# EDGAR Filing Document

**Accession Number:** 0000914036
**File Stem:** 0001410368-25-027750
**Filing Date:** 2025-11
**Character Count:** 350692
**Document Hash:** d26f98b527bc8efccd5eb5720e318133
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-027750.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-027750

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **CENTRAL INDEX KEY:** 0000914036

**ORGANIZATION NAME:**
- **EIN:** 521835648
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08090
- **FILM NUMBER:** 251504941

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** 260-455-2000

**MAIL ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGGRESSIVE GROWTH FUND /
- **DATE OF NAME CHANGE:** 20031001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **DATE OF NAME CHANGE:** 20030910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN NATIONAL AGGRESSIVE GROWTH FUND INC
- **DATE OF NAME CHANGE:** 19931025

## Series and Classes Contracts Data

### LVIP American Century Balanced Fund (Series ID: S000083643)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000247618 | Service Class     |  |
| C000247619 | Standard Class II |  |
| C000247620 | Standard Class    |  |

## Nport-Ex

**LVIP American Century Balanced Fund**

**Schedule of Investments**

September 30, 2025 (unaudited)

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

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount°**<br>| **Value** <br>**(U.S. $)**<br>|
| **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.11%** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.11%** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–0.11%** |
| &nbsp;&nbsp; •Federal National Mortgage <br> Association Connecticut <br> Avenue Securities Trust <br> Series 2017-C03 Class 1M2C <br> 7.47% (30 day USD SOFR <br> Average + 3.11%) 10/25/29<br>| 35828 | $36482 |
| &nbsp;&nbsp; \*Federal National Mortgage <br> Association REMICS Series <br> 2023-39 Class AI 2.00% <br> 7/25/52<br>| 3017312 | 387202 |
| **Total Agency Collateralized** <br> **Mortgage Obligations** <br>**(Cost $413,256)**<br>|  | **423684** |
| **AGENCY MORTGAGE-BACKED SECURITIES–11.35%** | **AGENCY MORTGAGE-BACKED SECURITIES–11.35%** | **AGENCY MORTGAGE-BACKED SECURITIES–11.35%** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; 2.00% 8/1/51 | 530415 | 431298 |
| &nbsp;&nbsp; 2.50% 5/1/51 | 619270 | 526986 |
| &nbsp;&nbsp; 2.50% 8/1/51 | 809933 | 686674 |
| &nbsp;&nbsp; 3.00% 1/1/50 | 530173 | 465987 |
| &nbsp;&nbsp; 3.00% 7/1/51 | 294453 | 260312 |
| &nbsp;&nbsp; 3.00% 12/1/51 | 446782 | 394004 |
| &nbsp;&nbsp; 3.00% 2/1/52 | 275910 | 245634 |
| &nbsp;&nbsp; 3.00% 6/1/52 | 211744 | 188160 |
| &nbsp;&nbsp; 3.50% 2/1/49 | 784710 | 732274 |
| &nbsp;&nbsp; 3.50% 5/1/50 | 100271 | 92480 |
| &nbsp;&nbsp; 3.50% 5/1/51 | 418157 | 385838 |
| &nbsp;&nbsp; 3.50% 5/1/52 | 369250 | 340881 |
| &nbsp;&nbsp; 4.00% 5/1/52 | 844757 | 801250 |
| &nbsp;&nbsp; 4.00% 6/1/52 | 1094277 | 1042050 |
| &nbsp;&nbsp; 4.50% 8/1/52 | 126631 | 124479 |
| &nbsp;&nbsp; 4.50% 10/1/52 | 1151810 | 1123019 |
| &nbsp;&nbsp; 5.00% 7/1/52 | 195756 | 196553 |
| &nbsp;&nbsp; 5.50% 11/1/52 | 131311 | 133281 |
| &nbsp;&nbsp; 5.50% 12/1/52 | 153354 | 155801 |
| &nbsp;&nbsp; 6.00% 11/1/52 | 963463 | 992347 |
| &nbsp;&nbsp; 6.00% 1/1/53 | 528003 | 543101 |
| &nbsp;&nbsp; 6.00% 3/1/53 | 1587072 | 1627689 |
| &nbsp;&nbsp; 6.50% 11/1/53 | 520083 | 539270 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; 2.00% 3/1/52 | 921000 | 752070 |
| &nbsp;&nbsp; 2.50% 6/1/50 | 523070 | 445802 |
| &nbsp;&nbsp; 2.50% 2/1/51 | 835680 | 713675 |
| &nbsp;&nbsp; 2.50% 12/1/51 | 573834 | 489835 |
| &nbsp;&nbsp; 2.50% 2/1/52 | 194400 | 165473 |
| &nbsp;&nbsp; 2.50% 7/1/52 | 258137 | 218478 |
| &nbsp;&nbsp; 3.00% 2/1/50 | 95898 | 85251 |
| &nbsp;&nbsp; 3.00% 6/1/51 | 42654 | 38205 |
| &nbsp;&nbsp; 3.00% 2/1/52 | 1204129 | 1070098 |
| &nbsp;&nbsp; 3.00% 3/1/52 | 480180 | 427687 |
| &nbsp;&nbsp; 3.00% 4/1/52 | 174149 | 154712 |
| &nbsp;&nbsp; 3.00% 5/1/52 | 343605 | 307320 |
| &nbsp;&nbsp;&nbsp; •3.18% (1 yr. USD RFUCCT + <br> 1.61%) 3/1/47<br>| 14283 | 14216 |
| &nbsp;&nbsp; 3.50% 5/1/42 | 103091 | 97943 |
| &nbsp;&nbsp; 3.50% 4/1/52 | 228192 | 208708 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** |
| Federal National Mortgage Association (continued) | Federal National Mortgage Association (continued) | Federal National Mortgage Association (continued) |
| &nbsp;&nbsp; 3.50% 5/1/52 | 2048264 | $1886376 |
| &nbsp;&nbsp; 3.50% 6/1/52 | 528613 | 491052 |
| &nbsp;&nbsp; 4.00% 4/1/52 | 801211 | 760094 |
| &nbsp;&nbsp; 4.00% 5/1/52 | 1004931 | 948087 |
| &nbsp;&nbsp; 4.50% 9/1/41 | 9162 | 9156 |
| &nbsp;&nbsp; 4.50% 7/1/52 | 446458 | 435054 |
| &nbsp;&nbsp; 4.50% 9/1/52 | 267496 | 263839 |
| &nbsp;&nbsp; 5.00% 8/1/52 | 1087603 | 1087003 |
| &nbsp;&nbsp; 5.00% 9/1/52 | 298774 | 299532 |
| &nbsp;&nbsp; 5.00% 10/1/52 | 990873 | 989203 |
| &nbsp;&nbsp; 5.00% 1/1/53 | 815874 | 814456 |
| &nbsp;&nbsp; 5.50% 10/1/52 | 491417 | 497461 |
| &nbsp;&nbsp; 5.50% 1/1/53 | 2707037 | 2743461 |
| &nbsp;&nbsp; 5.50% 3/1/54 | 1197306 | 1210204 |
| &nbsp;&nbsp; 6.00% 9/1/53 | 1344636 | 1380563 |
| &nbsp;&nbsp; 6.00% 5/1/54 | 639556 | 654497 |
| &nbsp;&nbsp; 6.50% 1/1/53 | 740750 | 768870 |
| Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| &nbsp;&nbsp; 2.00% 10/20/50 | 1425740 | 1179173 |
| &nbsp;&nbsp; 2.50% 11/20/50 | 590242 | 504026 |
| &nbsp;&nbsp; 2.50% 2/20/51 | 544134 | 469776 |
| &nbsp;&nbsp; 3.00% 5/20/50 | 172957 | 154625 |
| &nbsp;&nbsp; 3.00% 7/20/50 | 456815 | 409263 |
| &nbsp;&nbsp; 3.00% 7/20/51 | 430206 | 384419 |
| &nbsp;&nbsp; 3.50% 6/20/51 | 422060 | 387639 |
| &nbsp;&nbsp; 4.00% 9/20/52 | 1229016 | 1164387 |
| &nbsp;&nbsp; 4.00% 4/20/54 | 1479242 | 1391360 |
| &nbsp;&nbsp; 4.50% 1/15/40 | 8747 | 8731 |
| &nbsp;&nbsp; 4.50% 6/15/41 | 14568 | 14430 |
| &nbsp;&nbsp; 4.50% 9/20/52 | 1151157 | 1124724 |
| &nbsp;&nbsp; 4.50% 10/20/52 | 950559 | 928585 |
| &nbsp;&nbsp; 5.00% 12/20/54 | 571638 | 569723 |
| &nbsp;&nbsp; 6.50% 5/15/28 | 356 | 362 |
| &nbsp;&nbsp; 7.00% 4/20/26 | 137 | 140 |
| &nbsp;&nbsp; 7.00% 5/15/31 | 3653 | 3813 |
| &nbsp;&nbsp; 7.50% 8/15/26 | 202 | 202 |
| &nbsp;&nbsp; Government National <br> Mortgage Association, TBA <br> 5.50% 10/20/54<br>| 668000 | 672971 |
| &nbsp;&nbsp; Uniform Mortgage-Backed <br> Security, TBA 5.00% 10/1/55<br>| 3051000 | 3025546 |
| **Total Agency** <br> **Mortgage-Backed** <br> **Securities** <br>**(Cost $45,331,203)**<br>|  | **44851644** |
| **AGENCY OBLIGATIONS–0.52%** | **AGENCY OBLIGATIONS–0.52%** | **AGENCY OBLIGATIONS–0.52%** |
| &nbsp;&nbsp; Federal Home Loan Mortgage <br> Corp. 6.25% 7/15/32<br>| 700000 | 794596 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; 0.75% 10/8/27 | 600000 | 566999 |
| &nbsp;&nbsp; 0.88% 8/5/30 | 800000 | 699345 |
| **Total Agency Obligations** <br>**(Cost $2,079,553)**<br>|  | **2060940** |

---

*LVIP American Century Balanced Fund–1*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS–10.10%** | **ΔCORPORATE BONDS–10.10%** | **ΔCORPORATE BONDS–10.10%** |
| **Australia–0.06%** | **Australia–0.06%** | **Australia–0.06%** |
| &nbsp;&nbsp; μAustralia & New Zealand <br> Banking Group Ltd. 2.57% <br> 11/25/35<br>| 254000 | $226516 |
|  |  | **226516** |
| **Canada–0.60%** | **Canada–0.60%** | **Canada–0.60%** |
| &nbsp;&nbsp; Antares Holdings LP 6.35% <br> 10/23/29<br>| 250000 | 255646 |
| μBank of Nova Scotia |  |  |
| &nbsp;&nbsp; 6.88% 10/27/85 | 200000 | 199404 |
| &nbsp;&nbsp; 8.00% 1/27/84 | 190000 | 203905 |
| &nbsp;&nbsp; 8.63% 10/27/82 | 240000 | 255027 |
| &nbsp;&nbsp; μCanadian Imperial Bank of <br> Commerce 7.00% 10/28/85<br>| 135000 | 138631 |
| μEnbridge, Inc. 6.00% 1/15/77 | 360000 | 361009 |
| Gildan Activewear, Inc. |  |  |
| &nbsp;&nbsp; 4.70% 10/7/30 | 65000 | 64902 |
| &nbsp;&nbsp; 5.40% 10/7/35 | 55000 | 55008 |
| μRoyal Bank of Canada |  |  |
| &nbsp;&nbsp; 4.70% 8/6/31 | 149000 | 150950 |
| &nbsp;&nbsp; 5.15% 2/4/31 | 243000 | 250348 |
| &nbsp;&nbsp; μToronto-Dominion Bank <br> 8.13% 10/31/82<br>| 401000 | 423829 |
|  |  | **2358659** |
| **Chile–0.05%** | **Chile–0.05%** | **Chile–0.05%** |
| Colbun SA 5.38% 9/11/35 | 200000 | 199680 |
|  |  | **199680** |
| **Denmark–0.18%** | **Denmark–0.18%** | **Denmark–0.18%** |
| &nbsp;&nbsp; μDanske Bank AS 4.38% <br> 5/18/26<br>| 700000 | 694388 |
|  |  | **694388** |
| **Finland–0.13%** | **Finland–0.13%** | **Finland–0.13%** |
| &nbsp;&nbsp; μNordea Bank Abp 6.63% <br> 3/26/26<br>| 515000 | 517673 |
|  |  | **517673** |
| **France–0.31%** | **France–0.31%** | **France–0.31%** |
| μBNP Paribas SA |  |  |
| &nbsp;&nbsp; 4.63% 1/12/27 | 115000 | 113187 |
| &nbsp;&nbsp; 8.50% 8/14/28 | 400000 | 427341 |
| μBPCE SA 3.65% 1/14/37 | 250000 | 226181 |
| &nbsp;&nbsp; Electricite de France SA <br> 6.95% 1/26/39<br>| 211000 | 236098 |
| &nbsp;&nbsp; μSociete Generale SA 9.38% <br> 11/22/27<br>| 200000 | 214454 |
|  |  | **1217261** |
| **Ireland–0.03%** | **Ireland–0.03%** | **Ireland–0.03%** |
| &nbsp;&nbsp; Icon Investments Six DAC <br> 6.00% 5/8/34<br>| 110000 | 115467 |
|  |  | **115467** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **Italy–0.10%** | **Italy–0.10%** | **Italy–0.10%** |
| Eni SpA 5.95% 5/15/54 | 200000 | $199934 |
| &nbsp;&nbsp; μIntesa Sanpaolo SpA 4.20% <br> 6/1/32<br>| 200000 | 189049 |
|  |  | **388983** |
| **Luxembourg–0.09%** | **Luxembourg–0.09%** | **Luxembourg–0.09%** |
| &nbsp;&nbsp; Eagle Funding Luxco SARL <br> 5.50% 8/17/30<br>| 366000 | 371329 |
|  |  | **371329** |
| **Mexico–0.35%** | **Mexico–0.35%** | **Mexico–0.35%** |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp; 5.35% 2/12/28 | 499000 | 496873 |
| &nbsp;&nbsp; 5.95% 1/28/31 | 465000 | 450403 |
| &nbsp;&nbsp; 6.84% 1/23/30 | 44000 | 44755 |
| Trust Fibra Uno |  |  |
| &nbsp;&nbsp; 4.87% 1/15/30 | 200000 | 196071 |
| &nbsp;&nbsp; 7.70% 1/23/32 | 200000 | 216038 |
|  |  | **1404140** |
| **Netherlands–0.24%** | **Netherlands–0.24%** | **Netherlands–0.24%** |
| μING Groep NV |  |  |
| &nbsp;&nbsp; 5.75% 11/16/26 | 295000 | 295478 |
| &nbsp;&nbsp; 7.50% 5/16/28 | 400000 | 415691 |
| &nbsp;&nbsp; Siemens <br> Financieringsmaatschappij <br> NV 1.20% 3/11/26<br>| 250000 | 246887 |
|  |  | **958056** |
| **Spain–0.15%** | **Spain–0.15%** | **Spain–0.15%** |
| &nbsp;&nbsp; μBanco Bilbao Vizcaya <br> Argentaria SA 6.13% <br> 11/16/27<br>| 200000 | 199862 |
| &nbsp;&nbsp; μBanco Santander SA 4.75% <br> 11/12/26<br>| 400000 | 393012 |
|  |  | **592874** |
| **Sweden–0.15%** | **Sweden–0.15%** | **Sweden–0.15%** |
| &nbsp;&nbsp; μSkandinaviska Enskilda <br> Banken AB 6.88% 6/30/27<br>| 400000 | 409907 |
| &nbsp;&nbsp; μSvenska Handelsbanken AB <br> 4.38% 3/1/27<br>| 200000 | 196142 |
|  |  | **606049** |
| **Switzerland–0.06%** | **Switzerland–0.06%** | **Switzerland–0.06%** |
| &nbsp;&nbsp; μUBS Group AG 9.25% <br> 11/13/28<br>| 205000 | 225810 |
|  |  | **225810** |
| **United Kingdom–0.48%** | **United Kingdom–0.48%** | **United Kingdom–0.48%** |
| &nbsp;&nbsp; μAustralia & New Zealand <br> Banking Group Ltd. 6.75% <br> 6/15/26<br>| 206000 | 208598 |
| &nbsp;&nbsp; μLloyds Banking Group PLC <br> 6.75% 6/27/26<br>| 220000 | 222321 |

---

*LVIP American Century Balanced Fund–2*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| &nbsp;&nbsp; μMacquarie Bank Ltd. 6.13% <br> 3/8/27<br>| 245000 | $248095 |
| &nbsp;&nbsp; μNationwide Building Society <br> 4.13% 10/18/32<br>| 250000 | 246847 |
| μNatWest Group PLC |  |  |
| &nbsp;&nbsp; 3.03% 11/28/35 | 200000 | 182924 |
| &nbsp;&nbsp; 6.00% 12/29/25 | 495000 | 495573 |
| &nbsp;&nbsp; Rio Tinto Finance USA PLC <br> 5.75% 3/14/55<br>| 107000 | 110120 |
| &nbsp;&nbsp; μStandard Chartered PLC <br> 5.40% 8/12/36<br>| 200000 | 202938 |
|  |  | **1917416** |
| **United States–7.12%** | **United States–7.12%** | **United States–7.12%** |
| &nbsp;&nbsp; AEP Transmission Co. LLC <br> 5.38% 6/15/35<br>| 32000 | 33108 |
| AGCO Corp. 5.80% 3/21/34 | 121000 | 125781 |
| Aircastle Ltd. 6.50% 7/18/28 | 200000 | 210168 |
| &nbsp;&nbsp; Ally Financial, Inc. 8.00% <br> 11/1/31<br>| 266000 | 303232 |
| &nbsp;&nbsp; American Honda Finance <br> Corp. 4.95% 1/9/26<br>| 200000 | 200380 |
| Amgen, Inc. 5.65% 3/2/53 | 185000 | 184527 |
| Apple, Inc. 4.50% 5/12/32 | 176000 | 179613 |
| &nbsp;&nbsp; Applied Materials, Inc. 4.60% <br> 1/15/36<br>| 74000 | 73234 |
| AppLovin Corp. |  |  |
| &nbsp;&nbsp; 5.13% 12/1/29 | 45000 | 46035 |
| &nbsp;&nbsp; 5.38% 12/1/31 | 84000 | 86896 |
| &nbsp;&nbsp; 5.50% 12/1/34 | 145000 | 149676 |
| &nbsp;&nbsp; Arizona Public Service Co. <br> 5.70% 8/15/34<br>| 123000 | 128873 |
| &nbsp;&nbsp; Ashtead Capital, Inc. 5.95% <br> 10/15/33<br>| 200000 | 211405 |
| AT&T, Inc. 6.38% 3/1/41 | 25000 | 26983 |
| &nbsp;&nbsp; Athene Global Funding 5.53% <br> 7/11/31<br>| 120000 | 123647 |
| &nbsp;&nbsp; Atlas Warehouse Lending Co. <br> LP 6.25% 1/15/30<br>| 390000 | 401001 |
| μBank of America Corp. |  |  |
| &nbsp;&nbsp; 5.51% 1/24/36 | 145000 | 151570 |
| &nbsp;&nbsp; 6.25% 7/26/30 | 340000 | 344344 |
| &nbsp;&nbsp; Beacon Funding Trust 6.27% <br> 8/15/54<br>| 125000 | 127916 |
| &nbsp;&nbsp; Blackstone Private Credit <br> Fund 5.95% 7/16/29<br>| 35000 | 36006 |
| &nbsp;&nbsp; Blue Owl Capital Corp. 5.95% <br> 3/15/29<br>| 105000 | 107029 |
| &nbsp;&nbsp; Blue Owl Technology Finance <br> Corp. 6.10% 3/15/28<br>| 241000 | 244099 |
| Boeing Co. 5.71% 5/1/40 | 125000 | 127548 |
| &nbsp;&nbsp; Bristol-Myers Squibb Co. <br> 5.55% 2/22/54<br>| 155000 | 154482 |
| Broadcom, Inc. 4.80% 2/15/36 | 108000 | 107670 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp; μCapital One Financial Corp. <br> 2.36% 7/29/32<br>| 170000 | $146737 |
| &nbsp;&nbsp; Carlisle Cos., Inc. 5.55% <br> 9/15/40<br>| 85000 | 86042 |
| Carnival Corp. |  |  |
| &nbsp;&nbsp; 4.00% 8/1/28 | 235000 | 231641 |
| &nbsp;&nbsp; 5.13% 5/1/29 | 55000 | 55000 |
| &nbsp;&nbsp; Caterpillar, Inc. 5.20% <br> 5/15/35<br>| 73000 | 75526 |
| &nbsp;&nbsp; Centene Corp. 4.63% <br> 12/15/29<br>| 75000 | 72703 |
| μCharles Schwab Corp. |  |  |
| &nbsp;&nbsp; 4.00% 6/1/26 | 453000 | 447904 |
| &nbsp;&nbsp; 5.00% 6/1/27 | 300000 | 298594 |
| &nbsp;&nbsp; Cheniere Energy, Inc. 4.63% <br> 10/15/28<br>| 160000 | 159500 |
| &nbsp;&nbsp; Cisco Systems, Inc. 5.50% <br> 2/24/55<br>| 104000 | 105821 |
| Citibank NA 4.91% 5/29/30 | 250000 | 256858 |
| μCitigroup, Inc. |  |  |
| &nbsp;&nbsp; 3.88% 2/18/26 | 386000 | 382434 |
| &nbsp;&nbsp; 4.00% 12/10/25 | 457000 | 455221 |
| &nbsp;&nbsp; 4.41% 3/31/31 | 65000 | 64890 |
| &nbsp;&nbsp; 5.17% 9/11/36 | 110000 | 111116 |
| &nbsp;&nbsp; 5.61% 3/4/56 | 75000 | 75732 |
| &nbsp;&nbsp; CNA Financial Corp. 5.20% <br> 8/15/35<br>| 209000 | 209400 |
| &nbsp;&nbsp; CNO Financial Group, Inc. <br> 6.45% 6/15/34<br>| 87000 | 92322 |
| &nbsp;&nbsp; Columbia Pipelines Operating <br> Co. LLC 6.04% 11/15/33<br>| 140000 | 149385 |
| Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp; 5.30% 2/1/53 | 56000 | 54264 |
| &nbsp;&nbsp; 5.95% 6/1/55 | 53000 | 56339 |
| &nbsp;&nbsp; μCorebridge Financial, Inc. <br> 6.38% 9/15/54<br>| 106000 | 108798 |
| &nbsp;&nbsp; Cox Communications, Inc. <br> 5.70% 6/15/33<br>| 117000 | 119556 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp; 5.45% 9/15/35 | 73000 | 74285 |
| &nbsp;&nbsp; 6.00% 6/1/44 | 170000 | 172467 |
| μ7.00% 3/10/55 | 98000 | 102875 |
| &nbsp;&nbsp; Dell International LLC/EMC <br> Corp.<br>|  |  |
| &nbsp;&nbsp; 4.50% 2/15/31 | 190000 | 189561 |
| &nbsp;&nbsp; 5.30% 4/1/32 | 70000 | 72266 |
| &nbsp;&nbsp; Diamondback Energy, Inc. <br> 6.25% 3/15/33<br>| 130000 | 140063 |
| &nbsp;&nbsp; Duke Energy Corp. 4.95% <br> 9/15/35<br>| 74000 | 73514 |
| &nbsp;&nbsp; Duke Energy Florida LLC <br> 5.95% 11/15/52<br>| 90000 | 94661 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp; 4.15% 12/1/44 | 175000 | 148536 |
| &nbsp;&nbsp; 4.35% 3/6/27 | 131000 | 131983 |

---

*LVIP American Century Balanced Fund–3*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp; Duke Energy <br> Progress LLC (continued)<br>|  |  |
| &nbsp;&nbsp; 5.35% 3/15/53 | 50000 | $48713 |
| &nbsp;&nbsp; 5.55% 3/15/55 | 85000 | 85340 |
| &nbsp;&nbsp; Duke University 3.30% <br> 10/1/46<br>| 110000 | 80121 |
| &nbsp;&nbsp; Duke University Health <br> System, Inc. 3.92% 6/1/47<br>| 30000 | 24188 |
| &nbsp;&nbsp; Eastern Energy Gas <br> Holdings LLC 5.65% <br> 10/15/54<br>| 63000 | 62068 |
| &nbsp;&nbsp; Elevance Health, Inc. 5.00% <br> 1/15/36<br>| 69000 | 68498 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp; 6.13% 12/15/45 | 140000 | 140949 |
| &nbsp;&nbsp; 6.55% 12/1/33 | 240000 | 262509 |
| EPR Properties |  |  |
| &nbsp;&nbsp; 3.75% 8/15/29 | 45000 | 43322 |
| &nbsp;&nbsp; 4.95% 4/15/28 | 215000 | 216663 |
| &nbsp;&nbsp; Expand Energy Corp. 6.75% <br> 4/15/29<br>| 51000 | 51532 |
| &nbsp;&nbsp; μFirst Citizens BancShares, <br> Inc. 5.60% 9/5/35<br>| 180000 | 179524 |
| Fiserv, Inc. 5.25% 8/11/35 | 75000 | 75798 |
| &nbsp;&nbsp; Florida Power & Light Co. <br> 4.13% 2/1/42<br>| 254000 | 220973 |
| &nbsp;&nbsp; Flowers Foods, Inc. 5.75% <br> 3/15/35<br>| 95000 | 96763 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp; 5.85% 5/17/27 | 200000 | 202472 |
| &nbsp;&nbsp; 6.05% 11/5/31 | 200000 | 204415 |
| &nbsp;&nbsp; 7.20% 6/10/30 | 200000 | 213816 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp; 5.50% 1/25/31 | 310000 | 321678 |
| &nbsp;&nbsp; 6.10% 1/25/36 | 200000 | 212481 |
| &nbsp;&nbsp; 6.30% 1/25/39 | 320000 | 344122 |
| &nbsp;&nbsp; General Motors Financial Co., <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 5.60% 6/18/31 | 120000 | 124187 |
| &nbsp;&nbsp; 6.15% 7/15/35 | 145000 | 151641 |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp; 5.19% 4/1/30 | 180000 | 185452 |
| &nbsp;&nbsp; 5.89% 4/4/54 | 45000 | 45438 |
| μGoldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp; 4.69% 10/23/30 | 154000 | 155963 |
| &nbsp;&nbsp; 6.48% 10/24/29 | 145000 | 154306 |
| &nbsp;&nbsp; Golub Capital BDC, Inc. 7.05% <br> 12/5/28<br>| 119000 | 125790 |
| GXO Logistics, Inc. |  |  |
| &nbsp;&nbsp; 6.25% 5/6/29 | 297000 | 311898 |
| &nbsp;&nbsp; 6.50% 5/6/34 | 90000 | 96764 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp; 5.25% 3/1/30 | 111000 | 114599 |
| &nbsp;&nbsp; 6.20% 3/1/55 | 54000 | 55743 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp; Hewlett Packard Enterprise <br> Co. 4.85% 10/15/31<br>| 118000 | $119232 |
| &nbsp;&nbsp; HF Sinclair Corp. 5.50% <br> 9/1/32<br>| 68000 | 69121 |
| Hologic, Inc. 3.25% 2/15/29 | 55000 | 53108 |
| &nbsp;&nbsp; Home Depot, Inc. 4.65% <br> 9/15/35<br>| 64000 | 63367 |
| HPS Corporate Lending Fund |  |  |
| &nbsp;&nbsp; 4.90% 9/11/28 | 80000 | 79588 |
| &nbsp;&nbsp; 5.45% 1/14/28 | 65000 | 65591 |
| &nbsp;&nbsp; 6.25% 9/30/29 | 65000 | 67097 |
| &nbsp;&nbsp; Hyatt Hotels Corp. 5.75% <br> 3/30/32<br>| 66000 | 68833 |
| &nbsp;&nbsp; Hyundai Capital America <br> 6.50% 1/16/29<br>| 50000 | 53000 |
| Intel Corp. |  |  |
| &nbsp;&nbsp; 3.90% 3/25/30 | 230000 | 225614 |
| &nbsp;&nbsp; 5.15% 2/21/34 | 115000 | 116597 |
| &nbsp;&nbsp; 5.60% 2/21/54 | 97000 | 93137 |
| IQVIA, Inc. 6.25% 2/1/29 | 179000 | 188422 |
| &nbsp;&nbsp; Jersey Central Power & Light <br> Co. 5.15% 1/15/36<br>| 111000 | 112246 |
| μJPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp; 5.10% 4/22/31 | 230000 | 237618 |
| &nbsp;&nbsp; 5.29% 7/22/35 | 88000 | 90893 |
| &nbsp;&nbsp; 5.77% 4/22/35 | 272000 | 289785 |
| &nbsp;&nbsp; 6.09% 10/23/29 | 329000 | 347185 |
| &nbsp;&nbsp; Kaiser Foundation Hospitals <br> 3.00% 6/1/51<br>| 105000 | 69653 |
| &nbsp;&nbsp; Kentucky Utilities Co. 5.85% <br> 8/15/55<br>| 30000 | 30824 |
| &nbsp;&nbsp; Keysight Technologies, Inc. <br> 5.35% 7/30/30<br>| 103000 | 107061 |
| Kilroy Realty LP |  |  |
| &nbsp;&nbsp; 2.50% 11/15/32 | 115000 | 95551 |
| &nbsp;&nbsp; 2.65% 11/15/33 | 112000 | 91672 |
| &nbsp;&nbsp; 3.05% 2/15/30 | 90000 | 83055 |
| &nbsp;&nbsp; Ladder Capital Finance <br> Holdings LLLP/Ladder <br> Capital Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 4.75% 6/15/29 | 290000 | 284574 |
| &nbsp;&nbsp; 7.00% 7/15/31 | 220000 | 230645 |
| &nbsp;&nbsp; Leland Stanford Junior <br> University 4.68% 3/1/35<br>| 225000 | 226013 |
| &nbsp;&nbsp; μLiberty Mutual Group, Inc. <br> 4.13% 12/15/51<br>| 180000 | 176795 |
| &nbsp;&nbsp; Louisville Gas & Electric Co. <br> 5.85% 8/15/55<br>| 30000 | 30837 |
| Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp; 4.50% 10/15/32 | 165000 | 163658 |
| &nbsp;&nbsp; 4.85% 10/15/35 | 110000 | 109090 |
| &nbsp;&nbsp; LPL Holdings, Inc. 5.15% <br> 6/15/30<br>| 150000 | 152671 |
| &nbsp;&nbsp; μM&T Bank Corp. 5.13% <br> 11/1/26<br>| 16000 | 15930 |

---

*LVIP American Century Balanced Fund–4*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Mars, Inc. |  |  |
| &nbsp;&nbsp; 5.20% 3/1/35 | 212000 | $216693 |
| &nbsp;&nbsp; 5.65% 5/1/45 | 130000 | 131875 |
| &nbsp;&nbsp; 5.70% 5/1/55 | 75000 | 75971 |
| &nbsp;&nbsp; Massachusetts Institute of <br> Technology 5.62% 6/1/55<br>| 40000 | 42019 |
| &nbsp;&nbsp; Medline <br> Borrower LP/Medline <br> Co-Issuer, Inc. 6.25% 4/1/29<br>| 177000 | 181497 |
| &nbsp;&nbsp; Merck & Co., Inc. 5.70% <br> 9/15/55<br>| 104000 | 107321 |
| &nbsp;&nbsp; Meritage Homes Corp. 5.65% <br> 3/15/35<br>| 102000 | 103568 |
| MetLife, Inc. 6.40% 12/15/66 | 120000 | 126278 |
| &nbsp;&nbsp; Micron Technology, Inc. 5.30% <br> 1/15/31<br>| 245000 | 253525 |
| MidAmerican Energy Co. |  |  |
| &nbsp;&nbsp; 5.30% 2/1/55 | 90000 | 87566 |
| &nbsp;&nbsp; 5.85% 9/15/54 | 396000 | 416945 |
| μMorgan Stanley |  |  |
| &nbsp;&nbsp; 5.16% 4/20/29 | 112000 | 114647 |
| &nbsp;&nbsp; 5.52% 11/19/55 | 60000 | 60650 |
| &nbsp;&nbsp; 5.83% 4/19/35 | 63000 | 67161 |
| &nbsp;&nbsp; 6.63% 11/1/34 | 325000 | 363548 |
| &nbsp;&nbsp; μMorgan Stanley Private Bank <br> NA 4.73% 7/18/31<br>| 95000 | 96419 |
| &nbsp;&nbsp; Motorola Solutions, Inc. 5.20% <br> 8/15/32<br>| 110000 | 113365 |
| &nbsp;&nbsp; Newmont Corp./Newcrest <br> Finance Pty. Ltd. 5.35% <br> 3/15/34<br>| 156000 | 162714 |
| &nbsp;&nbsp; Niagara Mohawk Power Corp. <br> 4.65% 10/3/30<br>| 55000 | 55254 |
| NiSource, Inc. 5.35% 7/15/35 | 144000 | 147028 |
| &nbsp;&nbsp; Nordson Corp. 4.50% <br> 12/15/29<br>| 200000 | 201088 |
| &nbsp;&nbsp; Northern Natural Gas Co. <br> 5.63% 2/1/54<br>| 65000 | 63748 |
| Northern States Power Co. |  |  |
| &nbsp;&nbsp; 5.10% 5/15/53 | 110000 | 104552 |
| &nbsp;&nbsp; 5.65% 5/15/55 | 66000 | 67722 |
| &nbsp;&nbsp; μNorthern Trust Corp. 3.38% <br> 5/8/32<br>| 453000 | 444179 |
| &nbsp;&nbsp; Northrop Grumman Corp. <br> 5.15% 5/1/40<br>| 78000 | 77705 |
| &nbsp;&nbsp; Novant Health, Inc. 3.17% <br> 11/1/51<br>| 85000 | 57550 |
| &nbsp;&nbsp; OneMain Finance Corp. 7.50% <br> 5/15/31<br>| 73000 | 76311 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp; 4.80% 9/26/32 | 225000 | 225271 |
| &nbsp;&nbsp; 5.20% 9/26/35 | 225000 | 226239 |
| &nbsp;&nbsp; 5.50% 9/27/64 | 85000 | 77846 |
| &nbsp;&nbsp; Pacific Gas & Electric Co. <br> 4.20% 6/1/41<br>| 55000 | 45038 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp; Paramount Global 4.38% <br> 3/15/43<br>| 197000 | $152059 |
| &nbsp;&nbsp; PECO Energy Co. 5.65% <br> 9/15/55<br>| 95000 | 97071 |
| &nbsp;&nbsp; Pepperdine University 3.30% <br> 12/1/59<br>| 105000 | 65520 |
| &nbsp;&nbsp; Piedmont Operating <br> Partnership LP<br>|  |  |
| &nbsp;&nbsp; 6.88% 7/15/29 | 33000 | 34919 |
| &nbsp;&nbsp; 9.25% 7/20/28 | 182000 | 202092 |
| &nbsp;&nbsp; Public Service Electric & Gas <br> Co. 5.50% 3/1/55<br>| 155000 | 155682 |
| &nbsp;&nbsp; Realty Income Corp. 4.50% <br> 2/1/33<br>| 23000 | 22749 |
| &nbsp;&nbsp; Royal Caribbean Cruises Ltd. <br> 6.00% 2/1/33<br>| 198000 | 203045 |
| μSempra |  |  |
| &nbsp;&nbsp; 4.13% 4/1/52 | 303000 | 294811 |
| &nbsp;&nbsp; 4.88% 10/15/25 | 316000 | 315937 |
| &nbsp;&nbsp; Shell Finance U.S., Inc. 4.38% <br> 5/11/45<br>| 70000 | 61155 |
| SM Energy Co. 6.75% 9/15/26 | 108000 | 107963 |
| &nbsp;&nbsp; Solstice Advanced Materials, <br> Inc. 5.63% 9/30/33<br>| 70000 | 70231 |
| μSouthern Co. 4.00% 1/15/51 | 125000 | 124546 |
| &nbsp;&nbsp; Southern Co. Gas Capital <br> Corp. 5.10% 9/15/35<br>| 158000 | 158413 |
| &nbsp;&nbsp; Southern Natural Gas Co. <br> LLC 5.45% 8/1/35<br>| 52000 | 53046 |
| &nbsp;&nbsp; Sprint Capital Corp. 6.88% <br> 11/15/28<br>| 115000 | 123700 |
| Sunoco LP 5.88% 3/15/34 | 141000 | 139779 |
| Synopsys, Inc. 5.00% 4/1/32 | 274000 | 280000 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp; 5.13% 11/1/27 | 57000 | 56895 |
| &nbsp;&nbsp; 6.25% 2/1/27 | 135000 | 134955 |
| &nbsp;&nbsp; Time Warner Cable LLC 6.55% <br> 5/1/37<br>| 185000 | 192448 |
| &nbsp;&nbsp; T-Mobile USA, Inc. 6.70% <br> 12/15/33<br>| 191000 | 213584 |
| &nbsp;&nbsp; Union Electric Co. 5.45% <br> 3/15/53<br>| 90000 | 88161 |
| &nbsp;&nbsp; United Airlines, Inc. 4.63% <br> 4/15/29<br>| 130000 | 128010 |
| &nbsp;&nbsp; United Rentals North <br> America, Inc. 6.00% <br> 12/15/29<br>| 65000 | 66931 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp; 5.05% 4/15/53 | 210000 | 192420 |
| &nbsp;&nbsp; 5.30% 6/15/35 | 166000 | 171598 |
| &nbsp;&nbsp; 5.50% 7/15/44 | 174000 | 174329 |
| &nbsp;&nbsp; Universal Health Services, <br> Inc. 5.05% 10/15/34<br>| 96000 | 93697 |
| &nbsp;&nbsp; Venture Global Plaquemines <br> LNG LLC 6.75% 1/15/36<br>| 104000 | 110466 |

---

*LVIP American Century Balanced Fund–5*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp; Verizon Communications, Inc. <br> 2.99% 10/30/56<br>| 110000 | $67825 |
| &nbsp;&nbsp; Warnermedia Holdings, Inc. <br> 3.76% 3/15/27<br>| 176000 | 170817 |
| Weir Group, Inc. 5.35% 5/6/30 | 200000 | 205749 |
| μWells Fargo & Co. |  |  |
| &nbsp;&nbsp; 3.90% 3/15/26 | 450000 | 445630 |
| &nbsp;&nbsp; 5.01% 4/4/51 | 130000 | 121401 |
| &nbsp;&nbsp; 5.56% 7/25/34 | 85000 | 89284 |
| &nbsp;&nbsp; 5.61% 4/23/36 | 190000 | 199396 |
| &nbsp;&nbsp; Wynnton Funding Trust II <br> 5.99% 8/15/55<br>| 147000 | 150888 |
|  |  | **28115901** |
| **Total Corporate Bonds** <br>**(Cost $39,327,143)**<br>|  | **39910202** |
| **MUNICIPAL BONDS–0.33%** | **MUNICIPAL BONDS–0.33%** | **MUNICIPAL BONDS–0.33%** |
| &nbsp;&nbsp; California State University <br> Series B 2.98% 11/1/51<br>| 200000 | 138922 |
| City of Houston 3.96% 3/1/47 | 25000 | 21459 |
| &nbsp;&nbsp; City of Los Angeles <br> Department of Airports <br> Series C 6.58% 5/15/39<br>| 25000 | 27158 |
| &nbsp;&nbsp; Foothill-Eastern <br> Transportation Corridor <br> Agency Series A 4.09% <br> 1/15/49<br>| 85000 | 68361 |
| &nbsp;&nbsp; Golden State Tobacco <br> Securitization Corp. Series <br> B 2.75% 6/1/34<br>| 225000 | 199592 |
| &nbsp;&nbsp; Michigan Strategic Fund <br> Series A 3.23% 9/1/47<br>| 200000 | 152299 |
| &nbsp;&nbsp; Missouri Highway & <br> Transportation Commission <br> 5.45% 5/1/33<br>| 20000 | 20663 |
| &nbsp;&nbsp; New Jersey Turnpike <br> Authority Series A 7.10% <br> 1/1/41<br>| 85000 | 98471 |
| &nbsp;&nbsp; Ohio Turnpike & <br> Infrastructure Commission <br> Series A 3.22% 2/15/48<br>| 100000 | 74326 |
| &nbsp;&nbsp; Port Authority of New York & <br> New Jersey 4.93% 10/1/51<br>| 40000 | 37564 |
| &nbsp;&nbsp; Regents of the University of <br> California Medical Center <br> Pooled Revenue Series N <br> 3.26% 5/15/60<br>| 100000 | 64182 |
| State of California |  |  |
| &nbsp;&nbsp; 4.60% 4/1/38 | 120000 | 122378 |
| &nbsp;&nbsp; 7.60% 11/1/40 | 20000 | 24597 |
| &nbsp;&nbsp; Sumter Landing Community <br> Development District <br> (TXBL; Insured AGC)<br>|  |  |
| &nbsp;&nbsp; 5.57% 10/1/40 | 25000 | 25966 |
| &nbsp;&nbsp; 5.74% 10/1/45 | 40000 | 41051 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** | **MUNICIPAL BONDS (continued)** |
| &nbsp;&nbsp; Sumter Landing Community <br> Development District <br> (TXBL; Insured <br> AGC) (continued)<br>|  |  |
| &nbsp;&nbsp; 5.82% 10/1/54 | 70000 | $71560 |
| &nbsp;&nbsp; Texas Natural Gas <br> Securitization Finance Corp. <br> 5.17% 4/1/41<br>| 20000 | 20374 |
| &nbsp;&nbsp; United Nations Development <br> Corp. (New York) Series A <br> 6.54% 8/1/55<br>| 25000 | 26707 |
| &nbsp;&nbsp; University of California Series <br> BJ 3.07% 5/15/51<br>| 70000 | 46788 |
| **Total Municipal Bonds** <br>**(Cost $1,533,872)**<br>|  | **1282418** |
| **NON-AGENCY ASSET-BACKED SECURITIES–1.29%** | **NON-AGENCY ASSET-BACKED SECURITIES–1.29%** | **NON-AGENCY ASSET-BACKED SECURITIES–1.29%** |
| &nbsp;&nbsp; •ACREC LLC Series 2023-FL2 <br> Class A 6.38% (1 mo. USD <br> Term SOFR + 2.23%) <br> 2/19/38<br>| 76434 | 76631 |
| &nbsp;&nbsp; Blackbird Capital II Aircraft <br> Lease Ltd. Series 2021-1A <br> Class A 2.44% 7/15/46<br>| 194218 | 183472 |
| &nbsp;&nbsp; φBRAVO Residential Funding <br> Trust Series 2024-CES1 <br> Class A1A 6.38% 4/25/54<br>| 220525 | 223720 |
| &nbsp;&nbsp; DI Issuer LLC Series 2021-1A <br> Class A2 3.72% 9/15/51<br>| 598265 | 573603 |
| &nbsp;&nbsp; •Elmwood CLO 37 Ltd. Series <br> 2024-13A Class C 6.02% (3 <br> mo. USD Term SOFR + <br> 1.70%) 1/17/38<br>| 325000 | 326063 |
| &nbsp;&nbsp; •GoldenTree Loan <br> Management U.S. CLO 23 <br> Ltd. Series 2024-23A Class C <br> 6.08% (3 mo. USD Term <br> SOFR + 1.75%) 1/20/39<br>| 325000 | 326004 |
| Goodgreen Trust | Goodgreen Trust | Goodgreen Trust |
| &nbsp;&nbsp;&nbsp; •Series 2018-1A Class A 3.93% <br> 10/15/53<br>| 55898 | 51643 |
| &nbsp;&nbsp;&nbsp; Series 2020-1A Class A 2.63% <br> 4/15/55<br>| 140914 | 117307 |
| &nbsp;&nbsp; Hotwire Funding LLC Series <br> 2024-1A Class A2 5.89% <br> 6/20/54<br>| 250000 | 254229 |
| &nbsp;&nbsp; •Madison Park Funding LXVIII <br> Ltd. Series 2024-68A Class C <br> 6.13% (3 mo. USD Term <br> SOFR + 1.80%) 1/20/38<br>| 332000 | 332935 |
| &nbsp;&nbsp; •Magnetite XLI Ltd. Series <br> 2024-41A Class C 6.10% (3 <br> mo. USD Term SOFR + <br> 1.78%) 1/25/38<br>| 250000 | 250421 |

---

*LVIP American Century Balanced Fund–6*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; •Mountain View CLO LLC <br> Series 2017-2A Class B 6.28% <br> (3 mo. USD Term SOFR + <br> 1.96%) 1/16/31<br>| 110307 | $110394 |
| &nbsp;&nbsp; •Palmer Square Loan Funding <br> Ltd. Series 2025-1A Class A2 <br> 5.41% (3 mo. USD Term <br> SOFR + 1.20%) 2/15/33<br>| 250000 | 247895 |
| &nbsp;&nbsp; PK ALIFT Loan Funding 3 LP <br> Series 2024-1 Class A1 5.84% <br> 9/15/39<br>| 232271 | 237703 |
| RCKT Mortgage Trust | RCKT Mortgage Trust | RCKT Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2024-CES1 Class A1A <br> 6.03% 2/25/44<br>| 210269 | 212399 |
| &nbsp;&nbsp;&nbsp; φSeries 2024-CES6 Class A1A <br> 5.34% 9/25/44<br>| 96420 | 96754 |
| SCF Equipment Leasing LLC | SCF Equipment Leasing LLC | SCF Equipment Leasing LLC |
| &nbsp;&nbsp;&nbsp; Series 2024-1A Class B 5.56% <br> 4/20/32<br>| 125000 | 129214 |
| &nbsp;&nbsp;&nbsp; Series 2024-1A Class C 5.82% <br> 9/20/32<br>| 100000 | 103550 |
| &nbsp;&nbsp; •Shackleton CLO Ltd. Series <br> 2017-11A Class BR1 6.12% (3 <br> mo. USD Term SOFR + <br> 1.91%) 8/15/30<br>| 223915 | 224131 |
| &nbsp;&nbsp; Sierra Timeshare Receivables <br> Funding LLC Series 2021-1A <br> Class C 1.79% 11/20/37<br>| 20025 | 19863 |
| &nbsp;&nbsp; Subway Funding LLC Series <br> 2024-1A Class A2I 6.03% <br> 7/30/54<br>| 483348 | 490020 |
| &nbsp;&nbsp; Switch ABS Issuer LLC Series <br> 2024-2A Class A2 5.44% <br> 6/25/54<br>| 225000 | 226136 |
| &nbsp;&nbsp; •THL Credit Wind River CLO <br> Ltd. Series 2013-2A <br> Class BR2 6.16% (3 mo. USD <br> Term SOFR + 1.83%) <br> 10/18/30<br>| 69444 | 69451 |
| &nbsp;&nbsp; •Towd Point Mortgage Trust <br> Series 2024-CES3 Class A1 <br> 6.29% 5/25/64<br>| 220780 | 223557 |
| **Total Non-Agency** <br> **Asset-Backed Securities** <br>**(Cost $5,126,378)**<br>|  | **5107095** |
| **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–4.72%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–4.72%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–4.72%** |
| &nbsp;&nbsp; ABN AMRO Mortgage Corp. <br> Series 2003-4 Class A4 5.50% <br> 3/25/33<br>| 250 | 246 |
| &nbsp;&nbsp; Bank5 Series 2024-5YR7 <br> Class A3 5.77% 6/15/57<br>| 518000 | 540142 |
| BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust |
| &nbsp;&nbsp;&nbsp; φSeries 2024-NQM2 Class A1 <br> 6.29% 2/25/64<br>| 321076 | 325086 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| BRAVO Residential Funding Trust (continued) | BRAVO Residential Funding Trust (continued) | BRAVO Residential Funding Trust (continued) |
| &nbsp;&nbsp;&nbsp; •Series 2024-RPL1 Class A1 <br> 3.25% 10/25/63<br>| 375839 | $347571 |
| •Chase Home Lending Mortgage Trust | •Chase Home Lending Mortgage Trust | •Chase Home Lending Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-10 Class A4 <br> 6.00% 10/25/55<br>| 337300 | 341558 |
| &nbsp;&nbsp;&nbsp; Series 2024-2 Class A4A <br> 6.00% 2/25/55<br>| 129554 | 131127 |
| &nbsp;&nbsp;&nbsp; Series 2024-6 Class A4 6.00% <br> 5/25/55<br>| 188787 | 190724 |
| &nbsp;&nbsp;&nbsp; Series 2024-8 Class A6A <br> 5.50% 8/25/55<br>| 214002 | 214325 |
| &nbsp;&nbsp;&nbsp; Series 2024-9 Class A4 5.50% <br> 9/25/55<br>| 360480 | 362138 |
| &nbsp;&nbsp;&nbsp; Series 2024-9 Class A6 5.50% <br> 9/25/55<br>| 137775 | 137991 |
| &nbsp;&nbsp;&nbsp; Series 2025-5 Class A4A <br> 5.50% 4/25/56<br>| 514871 | 518038 |
| &nbsp;&nbsp;&nbsp; Series 2025-8 Class A4 6.00% <br> 6/25/56<br>| 596282 | 605172 |
| &nbsp;&nbsp;&nbsp; Series 2025-9 Class A4A <br> 5.50% 6/25/56<br>| 728579 | 733203 |
| &nbsp;&nbsp; CHL Mortgage Pass-Through <br> Trust Series 2005-17 Class <br> 1A11 5.50% 9/25/35<br>| 192 | 181 |
| •Citigroup Mortgage Loan Trust | •Citigroup Mortgage Loan Trust | •Citigroup Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-CMI1 Class A11 <br> 5.50% 6/25/54<br>| 522988 | 525326 |
| &nbsp;&nbsp;&nbsp; Series 2025-2 Class A10 <br> 6.00% 2/25/55<br>| 352889 | 357791 |
| &nbsp;&nbsp;&nbsp; Series 2025-3 Class A11 <br> 5.50% 6/25/55<br>| 354630 | 356619 |
| &nbsp;&nbsp; φEFMT Series 2025-CES2 <br> Class A1A 5.66% 2/25/60<br>| 347700 | 351303 |
| •GCAT Trust | •GCAT Trust | •GCAT Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-NQM1 Class A3 <br> 1.15% 1/25/66<br>| 55293 | 49468 |
| &nbsp;&nbsp;&nbsp; Series 2024-INV2 Class A6 <br> 6.00% 6/25/54<br>| 166335 | 168559 |
| &nbsp;&nbsp;&nbsp; Series 2024-INV3 Class A6 <br> 5.50% 9/25/54<br>| 227559 | 228765 |
| •GS Mortgage-Backed Securities Trust | •GS Mortgage-Backed Securities Trust | •GS Mortgage-Backed Securities Trust |
| &nbsp;&nbsp;&nbsp; Series 2023-PJ4 Class A15 <br> 6.00% 1/25/54<br>| 188951 | 191084 |
| &nbsp;&nbsp;&nbsp; Series 2023-PJ6 Class A15 <br> 6.00% 4/25/54<br>| 180410 | 182213 |
| &nbsp;&nbsp;&nbsp; Series 2024-PJ1 Class A15 <br> 6.00% 6/25/54<br>| 366954 | 369756 |
| &nbsp;&nbsp;&nbsp; Series 2025-PJ7 Class A5 <br> 5.50% 12/25/55<br>| 529634 | 532778 |
| •JP Morgan Mortgage Trust | •JP Morgan Mortgage Trust | •JP Morgan Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2020-3 Class A15 <br> 3.50% 8/25/50<br>| 47320 | 41803 |
| &nbsp;&nbsp;&nbsp; Series 2023-7 Class A4A <br> 5.50% 2/25/54<br>| 461189 | 461392 |

---

*LVIP American Century Balanced Fund–7*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| •JP Morgan Mortgage Trust (continued) | •JP Morgan Mortgage Trust (continued) | •JP Morgan Mortgage Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2023-8 Class A2 6.00% <br> 2/25/54<br>| 109363 | $110910 |
| &nbsp;&nbsp;&nbsp; Series 2024-10 Class A4 <br> 5.50% 3/25/55<br>| 328476 | 330152 |
| &nbsp;&nbsp;&nbsp; Series 2024-10 Class A6 <br> 5.50% 3/25/55<br>| 230404 | 230930 |
| &nbsp;&nbsp;&nbsp; Series 2024-11 Class A4 <br> 6.00% 4/25/55<br>| 519960 | 526918 |
| &nbsp;&nbsp;&nbsp; Series 2024-11 Class A6 <br> 6.00% 4/25/55<br>| 213867 | 215639 |
| &nbsp;&nbsp;&nbsp; Series 2024-5 Class A6 6.00% <br> 11/25/54<br>| 266276 | 267835 |
| &nbsp;&nbsp;&nbsp; Series 2024-INV1 Class A4 <br> 6.00% 4/25/55<br>| 308138 | 312838 |
| &nbsp;&nbsp;&nbsp; Series 2025-2 Class A4 6.00% <br> 7/25/55<br>| 454355 | 460433 |
| &nbsp;&nbsp; φMFA Trust Series 2024-NQM1 <br> Class A1 6.58% 3/25/69<br>| 214011 | 217535 |
| •Morgan Stanley Residential Mortgage Loan Trust | •Morgan Stanley Residential Mortgage Loan Trust | •Morgan Stanley Residential Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-1 Class A1 6.00% <br> 3/25/55<br>| 283518 | 287527 |
| &nbsp;&nbsp;&nbsp; Series 2025-1 Class A3 6.00% <br> 3/25/55<br>| 242689 | 245677 |
| OBX Trust | OBX Trust | OBX Trust |
| &nbsp;&nbsp;&nbsp; •Series 2024-HYB2 Class A1 <br> 3.69% 4/25/53<br>| 129447 | 127876 |
| &nbsp;&nbsp;&nbsp; φSeries 2024-NQM7 Class A1 <br> 6.24% 3/25/64<br>| 115958 | 117545 |
| &nbsp;&nbsp;&nbsp; •Series 2025-J1 Class A4 <br> 6.00% 5/25/55<br>| 275254 | 279327 |
| &nbsp;&nbsp; •PMT Loan Trust Series <br> 2025-J2 Class A9 5.50% <br> 8/25/56<br>| 814764 | 820161 |
| •Provident Funding Mortgage Trust | •Provident Funding Mortgage Trust | •Provident Funding Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-1 Class A3 5.50% <br> 12/25/54<br>| 515129 | 518229 |
| &nbsp;&nbsp;&nbsp; Series 2025-1 Class A3 5.50% <br> 2/25/55<br>| 641965 | 645972 |
| &nbsp;&nbsp;&nbsp; Series 2025-3 Class A4 5.50% <br> 8/25/55<br>| 542334 | 545908 |
| &nbsp;&nbsp; •Radian Mortgage Capital <br> Trust Series 2025-J3 <br> Class A15 5.50% 12/25/55<br>| 242402 | 243883 |
| •Rate Mortgage Trust | •Rate Mortgage Trust | •Rate Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-J1 Class A7 <br> 6.00% 7/25/54<br>| 188906 | 190262 |
| &nbsp;&nbsp;&nbsp; Series 2024-J3 Class A8 <br> 5.50% 10/25/54<br>| 118866 | 119194 |
| &nbsp;&nbsp;&nbsp; Series 2025-J1 Class A5 <br> 5.50% 3/25/55<br>| 155092 | 155644 |
| RCKT Mortgage Trust | RCKT Mortgage Trust | RCKT Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2024-CES2 Class A1A <br> 6.14% 4/25/44<br>| 140579 | 142271 |
| &nbsp;&nbsp;&nbsp; •Series 2024-CES3 Class A1A <br> 6.59% 5/25/44<br>| 101953 | 103606 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| RCKT Mortgage Trust (continued) | RCKT Mortgage Trust (continued) | RCKT Mortgage Trust (continued) |
| &nbsp;&nbsp;&nbsp; φSeries 2024-CES4 Class A1A <br> 6.15% 6/25/44<br>| 312587 | $316740 |
| &nbsp;&nbsp;&nbsp; φSeries 2024-CES8 Class A1A <br> 5.49% 11/25/44<br>| 270156 | 272398 |
| &nbsp;&nbsp; •Saluda Grade Alternative <br> Mortgage Trust Series <br> 2024-CES1 Class A1 6.31% <br> 3/25/54<br>| 281469 | 284447 |
| •Sequoia Mortgage Trust | •Sequoia Mortgage Trust | •Sequoia Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-10 Class A11 <br> 5.50% 11/25/54<br>| 132292 | 132571 |
| &nbsp;&nbsp;&nbsp; Series 2024-10 Class A5 <br> 5.50% 11/25/54<br>| 184352 | 185269 |
| &nbsp;&nbsp;&nbsp; Series 2024-6 Class A11 <br> 6.00% 7/27/54<br>| 300085 | 302114 |
| &nbsp;&nbsp;&nbsp; Series 2024-8 Class A5 5.50% <br> 9/25/54<br>| 155397 | 156085 |
| &nbsp;&nbsp;&nbsp; Series 2025-7 Class A5 5.50% <br> 8/25/55<br>| 622878 | 627617 |
| &nbsp;&nbsp;&nbsp; Series 2025-8 Class A4 5.50% <br> 9/25/55<br>| 434575 | 437951 |
| &nbsp;&nbsp; •SoFi Mortgage Trust Series <br> 2016-1A Class 1A4 3.00% <br> 11/25/46<br>| 5132 | 4617 |
| &nbsp;&nbsp; •Towd Point Mortgage Trust <br> Series 2024-1 Class A1 4.88% <br> 3/25/64<br>| 379029 | 390742 |
| &nbsp;&nbsp; •Verus Securitization Trust <br> Series 2021-R2 Class A3 <br> 1.23% 2/25/64<br>| 54946 | 50913 |
| **Total Non-Agency** <br> **Collateralized Mortgage** <br> **Obligations** <br>**(Cost $18,474,726)**<br>|  | **18642095** |
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–1.10%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–1.10%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–1.10%** |
| &nbsp;&nbsp; Aligned Data Centers <br> Issuer LLC Series 2021-1A <br> Class B 2.48% 8/15/46<br>| 226000 | 220240 |
| &nbsp;&nbsp; ARZ Trust Series 2024-BILT <br> Class A 5.77% 6/11/39<br>| 207000 | 212869 |
| &nbsp;&nbsp; Bank5 Trust Series 2024-5YR6 <br> Class A3 6.23% 5/15/57<br>| 281000 | 296545 |
| &nbsp;&nbsp; BBCMS Mortgage Trust Series <br> 2024-5C27 Class A3 6.01% <br> 7/15/57<br>| 138000 | 145021 |
| &nbsp;&nbsp; BX Trust Series 2023-LIFE <br> Class A 5.05% 2/15/28<br>| 438000 | 433064 |
| &nbsp;&nbsp; Capital Automotive REIT <br> Series 2024-2A Class A1 <br> 4.90% 5/15/54<br>| 307667 | 305983 |
| &nbsp;&nbsp; CyrusOne Data Centers Issuer <br> I LLC Series 2024-2A <br> Class A2 4.50% 5/20/49<br>| 300000 | 294975 |

---

*LVIP American Century Balanced Fund–8*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| &nbsp;&nbsp; •DBSG Mortgage Trust Series <br> 2024-ALTA Class A 6.14% <br> 6/10/37<br>|  | 229000 | $232736 |
| &nbsp;&nbsp; Flexential Issuer Series <br> 2021-1A Class A2 3.25% <br> 11/27/51<br>|  | 414000 | 401862 |
| &nbsp;&nbsp; FS Commercial Mortgage <br> Trust Series 2023-4SZN <br> Class A 7.07% 11/10/39<br>|  | 310000 | 317029 |
| &nbsp;&nbsp; •MF1 Ltd. Series 2021-FL7 <br> Class AS 5.70% (1 mo. USD <br> Term SOFR + 1.56%) <br> 10/16/36<br>|  | 350000 | 350053 |
| &nbsp;&nbsp; MIRA Trust Series 2023-MILE <br> Class A 6.75% 6/10/38<br>|  | 314000 | 326587 |
| &nbsp;&nbsp; New Economy Assets - Phase <br> 1 Sponsor LLC Series 2021-1 <br> Class B1 2.41% 10/20/61<br>|  | 500000 | 331786 |
| &nbsp;&nbsp; •SWCH Commercial Mortgage <br> Trust Series 2025-DATA <br> Class A 5.59% (1 mo. USD <br> Term SOFR + 1.44%) <br> 2/15/42<br>|  | 490000 | 487398 |
| **Total Non-Agency** <br> **Commercial** <br> **Mortgage-Backed** <br> **Securities** <br>**(Cost $4,466,799)**<br>|  |  | **4356148** |
| **ΔSOVEREIGN BONDS–0.16%** | **ΔSOVEREIGN BONDS–0.16%** | **ΔSOVEREIGN BONDS–0.16%** | **ΔSOVEREIGN BONDS–0.16%** |
| **Chile–0.02%** | **Chile–0.02%** | **Chile–0.02%** | **Chile–0.02%** |
| &nbsp;&nbsp; Chile Government <br> International Bonds 5.33% <br> 1/5/54<br>|  | 70000 | 67805 |
|  |  |  | **67805** |
| **New Zealand–0.14%** | **New Zealand–0.14%** | **New Zealand–0.14%** | **New Zealand–0.14%** |
| &nbsp;&nbsp; New Zealand Government <br> Bonds 4.50% 5/15/35<br>| NZD | 950000 | 563705 |
|  |  |  | **563705** |
| **Total Sovereign Bonds** <br>**(Cost $629,029)**<br>|  |  | **631510** |
| **U.S. TREASURY OBLIGATIONS–7.82%** | **U.S. TREASURY OBLIGATIONS–7.82%** | **U.S. TREASURY OBLIGATIONS–7.82%** | **U.S. TREASURY OBLIGATIONS–7.82%** |
| U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
| &nbsp;&nbsp; 2.50% 2/15/45 |  | 1900000 | 1360949 |
| &nbsp;&nbsp; 3.00% 5/15/45 |  | 600000 | 466922 |
| &nbsp;&nbsp; 3.00% 11/15/45 |  | 500000 | 387168 |
| &nbsp;&nbsp; 4.13% 8/15/44 |  | 600000 | 556922 |
| &nbsp;&nbsp; 4.38% 8/15/43 |  | 400000 | 386031 |
| &nbsp;&nbsp; 4.75% 11/15/43 |  | 1400000 | 1414875 |
| &nbsp;&nbsp; 5.00% 5/15/45 |  | 100000 | 103844 |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp; 3.63% 8/31/30 |  | 1600000 | 1591750 |
| &nbsp;&nbsp; 3.88% 6/15/28 |  | 1150000 | 1157547 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **U.S. TREASURY OBLIGATIONS (continued)** | **U.S. TREASURY OBLIGATIONS (continued)** | **U.S. TREASURY OBLIGATIONS (continued)** |
| U.S. Treasury Notes (continued) | U.S. Treasury Notes (continued) | U.S. Treasury Notes (continued) |
| &nbsp;&nbsp; 3.88% 12/31/29 | 500000 | $503203 |
| &nbsp;&nbsp; 3.88% 7/31/30 | 300000 | 301805 |
| &nbsp;&nbsp; 3.88% 8/31/32 | 400000 | 398813 |
| &nbsp;&nbsp; 4.00% 5/31/30 | 4300000 | 4350391 |
| &nbsp;&nbsp; 4.00% 6/30/32 | 800000 | 804125 |
| &nbsp;&nbsp; 4.13% 3/31/29 | 4600000 | 4670078 |
| &nbsp;&nbsp; 4.13% 8/31/30 | 3000000 | 3050273 |
| &nbsp;&nbsp; 4.13% 5/31/32 | 2300000 | 2329109 |
| &nbsp;&nbsp; 4.13% 11/15/32 | 300000 | 303492 |
| &nbsp;&nbsp; 4.25% 6/30/29 | 400000 | 407953 |
| &nbsp;&nbsp; 4.38% 11/30/30 | 3300000 | 3393199 |
| &nbsp;&nbsp; 4.88% 10/31/30 | 2800000 | 2943172 |
| **Total U.S. Treasury** <br> **Obligations** <br>**(Cost $30,642,504)**<br>|  | **30881621** |

---

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

---

| | | |
|:---|:---|:---|
|  | **Number of** <br>**Shares**<br>|  |
| **COMMON STOCK–61.93%** | **COMMON STOCK–61.93%** | **COMMON STOCK–61.93%** |
| **Air Freight & Logistics–0.20%** | **Air Freight & Logistics–0.20%** | **Air Freight & Logistics–0.20%** |
| FedEx Corp. | 3279 | 773221 |
|  |  | **773221** |
| **Automobiles–1.04%** | **Automobiles–1.04%** | **Automobiles–1.04%** |
| †Tesla, Inc. | 9279 | 4126557 |
|  |  | **4126557** |
| **Banks–2.61%** | **Banks–2.61%** | **Banks–2.61%** |
| Bank of America Corp. | 67216 | 3467674 |
| JPMorgan Chase & Co. | 12186 | 3843830 |
| Regions Financial Corp. | 113914 | 3003912 |
|  |  | **10315416** |
| **Beverages–0.43%** | **Beverages–0.43%** | **Beverages–0.43%** |
| PepsiCo, Inc. | 12080 | 1696515 |
|  |  | **1696515** |
| **Biotechnology–1.35%** | **Biotechnology–1.35%** | **Biotechnology–1.35%** |
| AbbVie, Inc. | 10480 | 2426539 |
| Gilead Sciences, Inc. | 15838 | 1758018 |
| †Vertex Pharmaceuticals, Inc. | 2945 | 1153380 |
|  |  | **5337937** |
| **Broadline Retail–2.18%** | **Broadline Retail–2.18%** | **Broadline Retail–2.18%** |
| †Amazon.com, Inc. | 39187 | 8604290 |
|  |  | **8604290** |
| **Building Products–0.84%** | **Building Products–0.84%** | **Building Products–0.84%** |
| &nbsp;&nbsp; Johnson Controls <br> International PLC<br>| 30357 | 3337752 |
|  |  | **3337752** |
| **Capital Markets–2.81%** | **Capital Markets–2.81%** | **Capital Markets–2.81%** |
| Ameriprise Financial, Inc. | 3035 | 1490944 |
| Blackrock, Inc. | 1433 | 1670692 |

---

*LVIP American Century Balanced Fund–9*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Shares**<br>| **Value**<br> **(U.S. $)**<br>|
| **CAPITAL MARKETS (continued)** | **CAPITAL MARKETS (continued)** | **CAPITAL MARKETS (continued)** |
| &nbsp;&nbsp; Intercontinental Exchange, <br> Inc.<br>| 7292 | $1228556 |
| KKR & Co., Inc. | 9601 | 1247650 |
| Morgan Stanley | 19395 | 3083029 |
| S&P Global, Inc. | 4912 | 2390719 |
|  |  | **11111590** |
| **Chemicals–1.01%** | **Chemicals–1.01%** | **Chemicals–1.01%** |
| Ecolab, Inc. | 5430 | 1487060 |
| Linde PLC | 5260 | 2498500 |
|  |  | **3985560** |
| **Commercial Services & Supplies–0.19%** | **Commercial Services & Supplies–0.19%** | **Commercial Services & Supplies–0.19%** |
| †Copart, Inc. | 16705 | 751224 |
|  |  | **751224** |
| **Communications Equipment–0.99%** | **Communications Equipment–0.99%** | **Communications Equipment–0.99%** |
| †Arista Networks, Inc. | 12310 | 1793690 |
| Motorola Solutions, Inc. | 4602 | 2104449 |
|  |  | **3898139** |
| **Consumer Finance–0.58%** | **Consumer Finance–0.58%** | **Consumer Finance–0.58%** |
| American Express Co. | 6863 | 2279614 |
|  |  | **2279614** |
| **Consumer Staples Distribution & Retail–0.91%** | **Consumer Staples Distribution & Retail–0.91%** | **Consumer Staples Distribution & Retail–0.91%** |
| Costco Wholesale Corp. | 1803 | 1668911 |
| Sysco Corp. | 23372 | 1924450 |
|  |  | **3593361** |
| **Containers & Packaging–0.25%** | **Containers & Packaging–0.25%** | **Containers & Packaging–0.25%** |
| Ball Corp. | 19958 | 1006282 |
|  |  | **1006282** |
| **Diversified Telecommunication Services–0.20%** | **Diversified Telecommunication Services–0.20%** | **Diversified Telecommunication Services–0.20%** |
| &nbsp;&nbsp; Verizon Communications, <br> Inc.<br>| 18244 | 801824 |
|  |  | **801824** |
| **Electric Utilities–0.92%** | **Electric Utilities–0.92%** | **Electric Utilities–0.92%** |
| NextEra Energy, Inc. | 48177 | 3636882 |
|  |  | **3636882** |
| **Electrical Equipment–0.79%** | **Electrical Equipment–0.79%** | **Electrical Equipment–0.79%** |
| Eaton Corp. PLC | 5220 | 1953585 |
| GE Vernova, Inc. | 1886 | 1159701 |
|  |  | **3113286** |
| **Electronic Equipment, Instruments & Components–0.23%** | **Electronic Equipment, Instruments & Components–0.23%** | **Electronic Equipment, Instruments & Components–0.23%** |
| CDW Corp. | 5606 | 892924 |
|  |  | **892924** |
| **Energy Equipment & Services–0.37%** | **Energy Equipment & Services–0.37%** | **Energy Equipment & Services–0.37%** |
| Schlumberger NV | 42107 | 1447218 |
|  |  | **1447218** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Shares**<br>| **Value**<br> **(U.S. $)**<br>|
| **Entertainment–0.72%** | **Entertainment–0.72%** | **Entertainment–0.72%** |
| &nbsp;&nbsp; †Liberty Media Corp.-Liberty <br> Formula One Class C<br>| 3755 | $392210 |
| †Netflix, Inc. | 2038 | 2443399 |
|  |  | **2835609** |
| **Financial Services–1.84%** | **Financial Services–1.84%** | **Financial Services–1.84%** |
| †Fiserv, Inc. | 4762 | 613965 |
| Mastercard, Inc. Class A | 7659 | 4356516 |
| Visa, Inc. Class A | 6706 | 2289294 |
|  |  | **7259775** |
| **Ground Transportation–0.64%** | **Ground Transportation–0.64%** | **Ground Transportation–0.64%** |
| †Uber Technologies, Inc. | 13573 | 1329747 |
| Union Pacific Corp. | 5099 | 1205250 |
|  |  | **2534997** |
| **Health Care Equipment & Supplies–0.63%** | **Health Care Equipment & Supplies–0.63%** | **Health Care Equipment & Supplies–0.63%** |
| †IDEXX Laboratories, Inc. | 2227 | 1422808 |
| †Intuitive Surgical, Inc. | 2379 | 1063960 |
|  |  | **2486768** |
| **Health Care Providers & Services–1.07%** | **Health Care Providers & Services–1.07%** | **Health Care Providers & Services–1.07%** |
| Cencora, Inc. | 3597 | 1124170 |
| Cigna Group | 5945 | 1713646 |
| UnitedHealth Group, Inc. | 3986 | 1376366 |
|  |  | **4214182** |
| **Health Care Reits–0.36%** | **Health Care Reits–0.36%** | **Health Care Reits–0.36%** |
| Welltower, Inc. | 7916 | 1410156 |
|  |  | **1410156** |
| **Hotels, Restaurants & Leisure–0.95%** | **Hotels, Restaurants & Leisure–0.95%** | **Hotels, Restaurants & Leisure–0.95%** |
| †Airbnb, Inc. Class A | 3559 | 432134 |
| Booking Holdings, Inc. | 261 | 1409209 |
| †Chipotle Mexican Grill, Inc. | 12050 | 472240 |
| &nbsp;&nbsp; Marriott International, Inc. <br> Class A<br>| 5598 | 1457943 |
|  |  | **3771526** |
| **Household Products–1.15%** | **Household Products–1.15%** | **Household Products–1.15%** |
| Church & Dwight Co., Inc. | 12363 | 1083370 |
| Colgate-Palmolive Co. | 9701 | 775498 |
| Procter & Gamble Co. | 17586 | 2702089 |
|  |  | **4560957** |
| **Industrial Conglomerates–0.34%** | **Industrial Conglomerates–0.34%** | **Industrial Conglomerates–0.34%** |
| Honeywell International, Inc. | 6301 | 1326360 |
|  |  | **1326360** |
| **Industrial Reits–0.56%** | **Industrial Reits–0.56%** | **Industrial Reits–0.56%** |
| Prologis, Inc. | 19376 | 2218939 |
|  |  | **2218939** |
| **Insurance–1.04%** | **Insurance–1.04%** | **Insurance–1.04%** |
| Marsh & McLennan Cos., Inc. | 5724 | 1153558 |

---

*LVIP American Century Balanced Fund–10*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Shares**<br>| **Value**<br> **(U.S. $)**<br>|
| **INSURANCE (continued)** | **INSURANCE (continued)** | **INSURANCE (continued)** |
| MetLife, Inc. | 21906 | $1804397 |
| Progressive Corp. | 4734 | 1169061 |
|  |  | **4127016** |
| **Interactive Media & Services–4.65%** | **Interactive Media & Services–4.65%** | **Interactive Media & Services–4.65%** |
| Alphabet, Inc. Class A | 48326 | 11748051 |
| Meta Platforms, Inc. Class A | 9009 | 6616029 |
|  |  | **18364080** |
| **IT Services–1.08%** | **IT Services–1.08%** | **IT Services–1.08%** |
| &nbsp;&nbsp; International Business <br> Machines Corp.<br>| 12546 | 3539979 |
| †MongoDB, Inc. | 2338 | 725669 |
|  |  | **4265648** |
| **Life Sciences Tools & Services–1.11%** | **Life Sciences Tools & Services–1.11%** | **Life Sciences Tools & Services–1.11%** |
| Agilent Technologies, Inc. | 6378 | 818616 |
| Danaher Corp. | 10332 | 2048423 |
| &nbsp;&nbsp; Thermo Fisher Scientific, <br> Inc.<br>| 3109 | 1507927 |
|  |  | **4374966** |
| **Machinery–1.64%** | **Machinery–1.64%** | **Machinery–1.64%** |
| Cummins, Inc. | 4820 | 2035823 |
| Deere & Co. | 2476 | 1132176 |
| Parker-Hannifin Corp. | 1588 | 1203942 |
| Xylem, Inc. | 14230 | 2098925 |
|  |  | **6470866** |
| **Oil, Gas & Consumable Fuels–0.97%** | **Oil, Gas & Consumable Fuels–0.97%** | **Oil, Gas & Consumable Fuels–0.97%** |
| Cheniere Energy, Inc. | 7737 | 1818040 |
| Williams Cos., Inc. | 31916 | 2021879 |
|  |  | **3839919** |
| **Pharmaceuticals–1.49%** | **Pharmaceuticals–1.49%** | **Pharmaceuticals–1.49%** |
| Bristol-Myers Squibb Co. | 13166 | 593787 |
| Eli Lilly & Co. | 3585 | 2735355 |
| Merck & Co., Inc. | 11826 | 992556 |
| Zoetis, Inc. | 10804 | 1580841 |
|  |  | **5902539** |
| **Professional Services–0.49%** | **Professional Services–0.49%** | **Professional Services–0.49%** |
| &nbsp;&nbsp; Automatic Data Processing, <br> Inc.<br>| 6556 | 1924186 |
|  |  | **1924186** |
| **Semiconductors & Semiconductor Equipment–8.78%** | **Semiconductors & Semiconductor Equipment–8.78%** | **Semiconductors & Semiconductor Equipment–8.78%** |
| Analog Devices, Inc. | 12243 | 3008105 |
| Applied Materials, Inc. | 3549 | 726622 |
| †ARM Holdings PLC ADR | 3406 | 481915 |
| ASML Holding NV | 837 | 813758 |
| Broadcom, Inc. | 25920 | 8551267 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Shares**<br>| **Value**<br> **(U.S. $)**<br>|
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT** <br> **(continued)** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT** <br> **(continued)** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT** <br> **(continued)** |
| NVIDIA Corp. | 108821 | $20303822 |
| &nbsp;&nbsp; Taiwan Semiconductor <br> Manufacturing Co. Ltd. <br> ADR<br>| 2929 | 818041 |
|  |  | **34703530** |
| **Software–7.79%** | **Software–7.79%** | **Software–7.79%** |
| †AppLovin Corp. Class A | 1918 | 1378160 |
| &nbsp;&nbsp; †Cadence Design Systems, <br> Inc.<br>| 7588 | 2665361 |
| &nbsp;&nbsp; †Crowdstrike Holdings, Inc. <br> Class A<br>| 2204 | 1080797 |
| †Dynatrace, Inc. | 24824 | 1202723 |
| Microsoft Corp. | 38647 | 20017214 |
| Salesforce, Inc. | 4198 | 994926 |
| †ServiceNow, Inc. | 2171 | 1997928 |
| †Workday, Inc. Class A | 6073 | 1461953 |
|  |  | **30799062** |
| **Specialized Reits–0.54%** | **Specialized Reits–0.54%** | **Specialized Reits–0.54%** |
| Equinix, Inc. | 2740 | 2146078 |
|  |  | **2146078** |
| **Specialty Retail–2.38%** | **Specialty Retail–2.38%** | **Specialty Retail–2.38%** |
| Home Depot, Inc. | 8894 | 3603760 |
| †O'Reilly Automotive, Inc. | 14955 | 1612298 |
| TJX Cos., Inc. | 17505 | 2530173 |
| Tractor Supply Co. | 29069 | 1653154 |
|  |  | **9399385** |
| **Technology Hardware, Storage & Peripherals–2.95%** | **Technology Hardware, Storage & Peripherals–2.95%** | **Technology Hardware, Storage & Peripherals–2.95%** |
| Apple, Inc. | 45740 | 11646776 |
|  |  | **11646776** |
| **Textiles, Apparel & Luxury Goods–0.19%** | **Textiles, Apparel & Luxury Goods–0.19%** | **Textiles, Apparel & Luxury Goods–0.19%** |
| †Deckers Outdoor Corp. | 7556 | 765952 |
|  |  | **765952** |
| **Trading Companies & Distributors–0.67%** | **Trading Companies & Distributors–0.67%** | **Trading Companies & Distributors–0.67%** |
| Ferguson Enterprises, Inc. | 4664 | 1047441 |
| United Rentals, Inc. | 1665 | 1589509 |
|  |  | **2636950** |
| **Total Common Stock** <br>**(Cost $139,006,827)**<br>|  | **244695814** |
| **EXCHANGE-TRADED FUND–0.06%** | **EXCHANGE-TRADED FUND–0.06%** | **EXCHANGE-TRADED FUND–0.06%** |
| iShares Core S&P 500 ETF  | 366 | 244964 |
| **Total Exchange-Traded Fund** <br>**(Cost $204,515)** | **Total Exchange-Traded Fund** <br>**(Cost $204,515)** | **244964** |

---

*LVIP American Century Balanced Fund–11*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Shares**<br>| **Value**<br> **(U.S. $)**<br>|
| **MONEY MARKET FUND–1.44%** | **MONEY MARKET FUND–1.44%** | **MONEY MARKET FUND–1.44%** |
| &nbsp;&nbsp; State Street Institutional <br> U.S. Government Money <br> Market Fund - Premier Class <br> (seven-day effective yield <br> 4.09%)<br>| 5666376 | $5666376 |
| **Total Money Market Fund** <br>**(Cost $5,666,376)** | **Total Money Market Fund** <br>**(Cost $5,666,376)** | **5666376** |

---

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

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

---

| | |
|:---|:---|
| **TOTAL INVESTMENTS–100.93% (Cost $292,902,181)** | **$398754511** |
| **LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(0.93%)** | **(3660796)**<br>|
| **NET ASSETS APPLICABLE TO 43,532,752 SHARES OUTSTANDING –100.00%** | **$395093715** |

---

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

------

---

| |
|:---|
| °Principal amount shown is stated in U.S. dollars unless noted that the security is denominated in another currency. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; •Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at September 30, 2025. For securities based on a <br> published reference rate and spread, the reference rate and spread are indicated in their description above and may be subject to caps <br> and/or floors or include a multiplier. Certain variable rate securities are not based on a published reference rate and spread but are <br> determined by the issuer or agent and are based on current market conditions such as changes in current interest rate and prepayments <br> on the underlying pool of assets. These securities do not indicate a reference rate and spread in their description above. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*Interest only security. An interest only security is the interest only portion of a fixed income security which is sold separately from the <br> principal portion of the security. |
| ΔSecurities have been classified by country of origin. |
| μFixed to variable rate investment. The rate shown reflects the fixed rate in effect at September 30, 2025. Rate will reset at a future date. |
| φStep coupon bond. Coupon increases/decreases periodically based on predetermined schedule. Stated rate in effect at September 30, 2025. |
| †Non-income producing. |

---

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

The following foreign currency exchange contracts, futures contracts and swap contracts were outstanding at September 30, 2025:<br>

**Foreign Currency Exchange Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to**<br> **Receive (Deliver)** | **Contracts to**<br> **Receive (Deliver)** | **In Exchange For** | **In Exchange For** | **Settlement Date** | **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| CITI | EUR | &nbsp;&nbsp; (141223)<br>| USD | &nbsp;&nbsp; 167467 | 12/19/25 | &nbsp;&nbsp; $895 | &nbsp;&nbsp; $— |
| GSI | EUR | &nbsp;&nbsp; (159578)<br>| USD | &nbsp;&nbsp; 189064 | 12/19/25 | &nbsp;&nbsp; 840 | &nbsp;&nbsp; — |
| MSC | EUR | &nbsp;&nbsp; (141223)<br>| USD | &nbsp;&nbsp; 167441 | 12/19/25 | &nbsp;&nbsp; 868 | &nbsp;&nbsp; — |
| MSC | NZD | &nbsp;&nbsp; (943380)<br>| USD | &nbsp;&nbsp; 563660 | 12/17/25 | &nbsp;&nbsp; 15049 | &nbsp;&nbsp; — |
| UBS | EUR | &nbsp;&nbsp; (141223)<br>| USD | &nbsp;&nbsp; 167454 | 12/19/25 | &nbsp;&nbsp; 881 | &nbsp;&nbsp; — |
| **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | &nbsp;&nbsp; $18533 | &nbsp;&nbsp; $— |

---

**Futures Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy (Sell)** | **Contracts to Buy (Sell)** | **Notional** <br>**Amount**<br>| **Notional** <br>**Cost (Proceeds)**<br>| **Expiration** <br>**Date**<br>| **Value/** <br>**Unrealized** <br>**Appreciation**<sup>1</sup> <br>| **Value/** <br>**Unrealized** <br>**Depreciation**<sup>1</sup> <br>|
| **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** |
| 9 | CBOT 10 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; $1012500 | &nbsp;&nbsp; $1011346 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; $1154 | &nbsp;&nbsp; $— |
| 7 | CBOT U.S. Long Bond Futures | &nbsp;&nbsp; 816156 | &nbsp;&nbsp; 801404 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 14752 | &nbsp;&nbsp; — |
| 6 | Long Gilt Futures | &nbsp;&nbsp; 733024 | &nbsp;&nbsp; 736664 | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (3640)<br>|
| 11 | Montreal Exchange 10 Year Canadian Bond Futures | &nbsp;&nbsp; 967924 | &nbsp;&nbsp; 946532 | &nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp; 21392 | &nbsp;&nbsp; — |
| 23 | Ultra 10 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; 2646797 | &nbsp;&nbsp; 2662607 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (15810)<br>|
| 55 | Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp; 6603438 | &nbsp;&nbsp; 6446312 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 157126 | &nbsp;&nbsp; — |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | &nbsp;&nbsp; $194424 | &nbsp;&nbsp; $(19450)<br>|

---

*LVIP American Century Balanced Fund–12*

------

**LVIP American Century Balanced Fund**

**Schedule of Investments (continued)**

**Swap Contract**

**Credit Default Swap (CDS) Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation/**<br> **Payment**<br> **Frequency**<br>| **Notional**<br> **Amount**<sup>2</sup> <br>| **Annual**<br> **Protection**<br> **Payments**<br>| **Termination**<br> **Date**<br>| **Value** | **Upfront**<br> **Payments**<br> **Paid**<br> **(Received)**<br>| **Unrealized**<br> **Appreciation**<sup>1</sup> <br>| **Unrealized**<br> **Depreciation**<sup>1</sup> <br>|
| **Centrally Cleared:** |  |  |  |  |  |  |  |
| **Protection Purchased** |  |  |  |  |  |  |  |
| CDX.NA.HY.44- Quarterly<sup>3</sup> <br>| 4850000 | (5.00%) | 6/20/30 | $(393432) | $(336173) | $— | $(57259) |

---

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

The use of foreign currency exchange contracts, futures contracts and swap contracts involves elements of market risk and risks in excess of the <br> amounts recognized in the financial statements. The foreign currency exchange contracts and notional amounts presented above represent the <br> Fund's total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund's net assets.<br>

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

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Includes cumulative appreciation (depreciation) of futures and centrally cleared swap contracts from the date the contracts were opened <br> through September 30, 2025. |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>2</sup> Notional amount shown is stated in U.S. dollars unless noted that the swap is denominated in another currency. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>3</sup> Markit's North American High Yield CDX Index, or the CDX.NA.HY Index, is composed of 100 of the most liquid North American entities with <br> high yield credit ratings that trade in the CDS market. Constituents for the index can be found at www.markit.com/Documentation. |

---

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

---

| |
|:---|
| **Summary of Abbreviations:** |
| ADR–American Depositary Receipt |
| BNP–BNP Paribas |
| CBOT–Chicago Board of Trade |
| CDX.NA.HY–Credit Default Swap Index North America High Yield |
| CITI–Citigroup Global Markets |
| CLO–Collateralized Loan Obligation |
| ETF–Exchange-Traded Fund |
| EUR–Euro |
| GS–Goldman Sachs |
| GSI–Goldman Sachs International |
| IT–Information Technology |
| LNG–Liquefied Natural Gas |
| MSC–Morgan Stanley & Co. |
| NZD–New Zealand Dollar |
| REIT–Real Estate Investment Trust |
| REMIC–Real Estate Mortgage Investment Conduits |
| RFUCCT–Refinitiv USD IBOR Consumer Cash Fallbacks Term |
| S&P–Standard & Poor's |
| SOFR–Secured Overnight Financing Rate |
| TBA–To be announced |
| USD–United States Dollar |
| yr.–Year |

---

*LVIP American Century Balanced Fund–13*

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

- **b. Investment Company Act file number:** 811-08090

- **c. CIK number of Registrant:** 0000914036

- **d. LEI of Registrant:** 3EICVM5HD7FVBIM8WO57

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

  - **Street Address 1:** 1301 S. Harrison Street

  - **City:** FORT WAYNE

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46802

  - **Telephone number:** 260-455-2000

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

- **a. Name of Series:** LVIP American Century Balanced Fund

- **b. EDGAR series identifier (if any):** S000083643

- **c. LEI of Series:** 254900LIBPHEI8QKOK26

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $403746437.58

**Total Liabilities:** $8524398.11

**Net Assets:** $395222039.47

**Delayed Delivery Securities:** $628734.60

**Cash Not Reported:** $181982.97

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -153.64000000 | **1-Year:** -3270.07000000 | **5-Year:** -9282.25000000 | **10-Year:** -9156.39000000 | **30-Year:** -4392.97000000

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

- **3-Month:** -70.33000000 | **1-Year:** -423.11000000 | **5-Year:** 1419.32000000 | **10-Year:** -341.29000000 | **30-Year:** -213.55000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000247620 | 0.95%                | 1.81%                | 2.13%                |
| Class ID C000247618 | 0.91%                | 1.78%                | 2.10%                |
| Class ID C000247619 | 0.94%                | 1.81%                | 2.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $491712.36               | $2686568.97                                |
| Month 2  | $-372656.07              | $6745848.42                                |
| Month 3  | $624974.10               | $6781303.55                                |

**Designated Index Information**

- **Index Name:** 60% S&P 500, 40% Bloomberg US Aggregate Bond Index

- **Index Identifier:** 60% SPX, 40% LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Honeywell International Inc                                           | Honeywell International Inc                                                                                            | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      6301 | NS      | $1326360.50   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust 2024-8                                                                               | CUSIP: 16159XAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    214002 | PA      | $214324.78    | 0.05%             | 2055-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                                | Motorola Solutions Inc                                                                                                 | CUSIP: 620076CB3<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113365.45    | 0.03%             | 2032-08-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XHCM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    343605 | PA      | $307319.68    | 0.08%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                                                 | Universal Health Services Inc                                                                                          | CUSIP: 913903BC3<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |     96000 | PA      | $93697.09     | 0.02%             | 2034-10-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                              | Mars Inc                                                                                                               | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    212000 | PA      | $216692.94    | 0.05%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                   | Petroleos Mexicanos                                                                                                    | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    499000 | PA      | $496873.49    | 0.13%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Time Warner Cable LLC                                                 | Time Warner Cable LLC                                                                                                  | CUSIP: 88732JAJ7<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |    185000 | PA      | $192448.42    | 0.05%             | 2037-05-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179VQT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    456815 | PA      | $409263.02    | 0.10%             | 2050-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179WG51<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    422060 | PA      | $387638.86    | 0.10%             | 2051-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MIDAMERICAN ENERGY CO                                                 | MidAmerican Energy Co                                                                                                  | CUSIP: 595620AY1<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |    396000 | PA      | $416944.52    | 0.11%             | 2054-09-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corp                                                   | Northern Trust Corp                                                                                                    | CUSIP: 665859AS3<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    453000 | PA      | $444179.32    | 0.11%             | 2032-05-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                               | PORT AUTH OF NEW YORK & NEW JERSEY NY                                                                                  | CUSIP: 73358WEK6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |     40000 | PA      | $37564.48     | 0.01%             | 2051-10-01      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                            | Verus Securitization Trust 2021-R2                                                                                     | CUSIP: 92538DAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     54946 | PA      | $50912.92     | 0.01%             | 2064-02-25      | Variable      | 1.23%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133KQDW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    963463 | PA      | $992346.73    | 0.25%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                    | Expand Energy Corp                                                                                                     | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     51000 | PA      | $51532.17     | 0.01%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                          | Broadcom Inc                                                                                                           | CUSIP: 11135FCY5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    108000 | PA      | $107670.51    | 0.03%             | 2036-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 31418EJ84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    491417 | PA      | $497461.09    | 0.13%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                               | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                                                                            | CUSIP: 594698SJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $152298.92    | 0.04%             | 2047-09-01      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XNVZ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1833972 | PA      | $1857324.94   | 0.47%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                                                        | Salesforce Inc                                                                                                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      4198 | NS      | $994926.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                                                         | Dynatrace Inc                                                                                                          | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |     24824 | NS      | $1202722.80   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                              | Capital One Financial Corp                                                                                             | CUSIP: 14040HCG8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    170000 | PA      | $146736.55    | 0.04%             | 2032-07-29      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | JP Morgan Mortgage Trust Series 2024-5                                                                                 | CUSIP: 46658RAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    266276 | PA      | $267834.65    | 0.07%             | 2054-11-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                | Sequoia Mortgage Trust 2024-10                                                                                         | CUSIP: 81749QAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    184352 | PA      | $185269.31    | 0.05%             | 2054-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                                                                    | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    230000 | PA      | $237617.59    | 0.06%             | 2031-04-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CJM4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3300000 | PA      | $3393199.23   | 0.86%             | 2030-11-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                                               | Morgan Stanley Private Bank NA                                                                                         | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96418.66     | 0.02%             | 2031-07-18      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| NORTHERN STATES PWR-MINN                                              | Northern States Power Co/MN                                                                                            | CUSIP: 665772CX5<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |    110000 | PA      | $104552.31    | 0.03%             | 2053-05-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Blackrock Inc                                                         | Blackrock Inc                                                                                                          | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      1433 | NS      | $1670691.71   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleos Mexicanos                                                   | Petroleos Mexicanos                                                                                                    | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     44000 | PA      | $44754.95     | 0.01%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QG5L7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    835680 | PA      | $713674.98    | 0.18%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SCF Equipment Trust Llc                                               | SCF Equipment Leasing 2024-1 LLC                                                                                       | CUSIP: 783896AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $103550.02    | 0.03%             | 2032-09-20      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Texas Natural Gas Securitization Finance Corp                         | TEXAS NATURAL GAS SECURITIZTN FIN CORP REVENUE                                                                         | CUSIP: 88258MAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20373.72     | 0.01%             | 2041-04-01      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XGMP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    442211 | PA      | $418894.83    | 0.11%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QPSR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    446458 | PA      | $435054.39    | 0.11%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                        | Morgan Stanley                                                                                                         | CUSIP: 61747YFJ9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    325000 | PA      | $363548.07    | 0.09%             | 2034-11-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | JP Morgan Mortgage Trust 2023-7                                                                                        | CUSIP: 46657DAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    461189 | PA      | $461392.42    | 0.12%             | 2054-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                                    | Banco Santander SA                                                                                                     | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $393012.37    | 0.10%             | 2026-11-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Welltower Inc                                                         | Welltower Inc                                                                                                          | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |      7916 | NS      | $1410156.24   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae I Pool                                                                                                      | CUSIP: 3620A94L2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8747 | PA      | $8731.26      | 0.00%             | 2040-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MetLife Inc                                                           | MetLife Inc                                                                                                            | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    120000 | PA      | $126277.68    | 0.03%             | 2036-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Chipotle Mexican Grill Inc                                            | Chipotle Mexican Grill Inc                                                                                             | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12050 | NS      | $472239.50    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackbird Capital Aircraft                                            | Blackbird Capital II Aircraft Lease Ltd                                                                                | CUSIP: 09229CAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    194218 | PA      | $183472.36    | 0.05%             | 2046-07-15      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133KMEZ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    294453 | PA      | $260311.75    | 0.07%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | JP Morgan Mortgage Trust 2020-3                                                                                        | CUSIP: 46592ABH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     47320 | PA      | $41802.81     | 0.01%             | 2050-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                 | Wells Fargo & Co                                                                                                       | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    190000 | PA      | $199395.71    | 0.05%             | 2036-04-23      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| Progressive Corp/The                                                  | Progressive Corp/The                                                                                                   | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      4734 | NS      | $1169061.30   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QPXM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1087603 | PA      | $1087002.58   | 0.28%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co                                              | Florida Power & Light Co                                                                                               | CUSIP: 341081FF9<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    254000 | PA      | $220972.69    | 0.06%             | 2042-02-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                                              | HPS Corporate Lending Fund                                                                                             | CUSIP: 40440VAC9<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67096.70     | 0.02%             | 2029-09-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                                      | LPL Holdings Inc                                                                                                       | CUSIP: 50212YAP9<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152670.94    | 0.04%             | 2030-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Vertex Pharmaceuticals Inc                                            | Vertex Pharmaceuticals Inc                                                                                             | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      2945 | NS      | $1153379.80   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY INC                                                 | Micron Technology Inc                                                                                                  | CUSIP: 595112CD3<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    245000 | PA      | $253524.58    | 0.06%             | 2031-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                           | RCKT Mortgage Trust 2024-CES6                                                                                          | CUSIP: 749410AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     96420 | PA      | $96753.61     | 0.02%             | 2044-09-25      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                                     | Sierra Timeshare 2021-1 Receivables Funding LLC                                                                        | CUSIP: 82652QAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20025 | PA      | $19863.34     | 0.01%             | 2037-11-20      | Fixed         | 1.79%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                                | UnitedHealth Group Inc                                                                                                 | CUSIP: 91324PFQ0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    166000 | PA      | $171597.96    | 0.04%             | 2035-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Bank5                                                                 | BANK5 2024-5YR7                                                                                                        | CUSIP: 06211UBL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    518000 | PA      | $540141.86    | 0.14%             | 2057-06-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| Ohio Turnpike & Infrastructure Commission                             | OHIO ST TURNPIKE COMMISSION                                                                                            | CUSIP: 67760HNB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $74325.86     | 0.02%             | 2048-02-15      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| Shackleton CLO LTD                                                    | Shackleton 2017-XI Clo Ltd                                                                                             | CUSIP: 81883EAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    223915 | PA      | $224131.40    | 0.06%             | 2030-08-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                                                    | Union Pacific Corp                                                                                                     | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      5099 | NS      | $1205250.63   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| State of California                                                   | CALIFORNIA ST                                                                                                          | CUSIP: 13063DGE2<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    120000 | PA      | $122378.33    | 0.03%             | 2038-04-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                              | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                     | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              |  | US        |    290000 | PA      | $284574.40    | 0.07%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                                | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |         1 | NC      | $880.75       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                                 | Northrop Grumman Corp                                                                                                  | CUSIP: 666807BT8<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     78000 | PA      | $77705.47     | 0.02%             | 2040-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| University of California                                              | UNIV OF CALIFORNIA CA REVENUES                                                                                         | CUSIP: 91412HKE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $46787.86     | 0.01%             | 2051-05-15      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                                         | AppLovin Corp                                                                                                          | CUSIP: 03831WAC2<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |     84000 | PA      | $86895.96     | 0.02%             | 2031-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DN3B7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    869609 | PA      | $848025.65    | 0.21%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                 | Tenet Healthcare Corp                                                                                                  | CUSIP: 88033GDS6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    135000 | PA      | $134955.42    | 0.03%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae I Pool                                                                                                      | CUSIP: 36225AN55<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       202 | PA      | $202.36       | 0.00%             | 2026-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                                                          | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    386000 | PA      | $382434.09    | 0.10%             | 2026-02-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                                                          | CUSIP: 172967MP3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64890.47     | 0.02%             | 2031-03-31      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                                                      | HF Sinclair Corp                                                                                                       | CUSIP: 403949AT7<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |     68000 | PA      | $69120.92     | 0.02%             | 2032-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust Series 2024-6                                                                        | CUSIP: 161931AD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    188787 | PA      | $190723.50    | 0.05%             | 2055-05-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                               | Goldman Sachs Group Inc/The                                                                                            | CUSIP: 38141GA46<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    145000 | PA      | $154306.00    | 0.04%             | 2029-10-24      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                | General Motors Financial Co Inc                                                                                        | CUSIP: 37045XEY8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    120000 | PA      | $124186.68    | 0.03%             | 2031-06-18      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                                | UnitedHealth Group Inc                                                                                                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      3986 | NS      | $1376365.80   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MACQUARIE BANK LONDON                                                 | Macquarie Bank Ltd/London                                                                                              | CUSIP: 556079AB7<br>LEI: 549300MPRNPO6FWNKN78 | Long             | DBT              | CORP              | AU        |    245000 | PA      | $248095.33    | 0.06%             | 2027-03-08      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                                | UnitedHealth Group Inc                                                                                                 | CUSIP: 91324PFK3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    174000 | PA      | $174328.56    | 0.04%             | 2044-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                                     | Citigroup Mortgage Loan Trust 2024-CMI1                                                                                | CUSIP: 17332DAL8<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    522988 | PA      | $525325.85    | 0.13%             | 2054-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| ASML Holding NV                                                       | ASML Holding NV                                                                                                        | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       837 | NS      | $813757.64    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc                                                    | United Rentals Inc                                                                                                     | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      1665 | NS      | $1589508.90   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133KPGB8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    466066 | PA      | $440632.95    | 0.11%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140LNDX2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42654 | PA      | $38205.31     | 0.01%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 3622ADQC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    571638 | PA      | $569722.88    | 0.14%             | 2054-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                                              | HPS Corporate Lending Fund                                                                                             | CUSIP: 40440VAQ8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79588.13     | 0.02%             | 2028-09-11      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp                                  | International Business Machines Corp                                                                                   | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     12546 | NS      | $3539979.36   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3138AP5M6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9162 | PA      | $9156.31      | 0.00%             | 2041-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GCAT                                                                  | GCAT 2021-NQM1 Trust                                                                                                   | CUSIP: 36167TAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     55293 | PA      | $49467.76     | 0.01%             | 2066-01-25      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | JP Morgan Mortgage Trust 2024-11                                                                                       | CUSIP: 46659AAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    519960 | PA      | $526917.96    | 0.13%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                                                    | NextEra Energy Inc                                                                                                     | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     48177 | NS      | $3636881.73   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVANT HEALTH INC                                                     | Novant Health Inc                                                                                                      | CUSIP: 66988AAH7<br>LEI: 549300ZUXEGFGE8EP917 | Long             | DBT              | CORP              | US        |     85000 | PA      | $57550.47     | 0.01%             | 2051-11-01      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| ICE Futures Europe - Financial Products Division                      | LONG GILT FUTURE DEC25                                                                                                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         6 | NC      | $-3640.51     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                                                       | Schlumberger NV                                                                                                        | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     42107 | NS      | $1447217.59   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC                                                       | Caterpillar Inc                                                                                                        | CUSIP: 149123CL3<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |     73000 | PA      | $75526.46     | 0.02%             | 2035-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QREU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    740750 | PA      | $768869.80    | 0.19%             | 2053-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                                        | Trust Fibra Uno                                                                                                        | CUSIP: 898339AA4<br>LEI: N/A                  | Long             | DBT              |  | MX        |    200000 | PA      | $196070.64    | 0.05%             | 2030-01-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                                            | AbbVie Inc                                                                                                             | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     10480 | NS      | $2426539.20   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                 | Foundry JV Holdco LLC                                                                                                  | CUSIP: 350930AH6<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $212480.53    | 0.05%             | 2036-01-25      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust Series 2025-9                                                                        | CUSIP: 16160UAE5<br>LEI: 529900II236FJ8MBXS58 | Long             | ABS-MBS          | CORP              | US        |    728579 | PA      | $733203.17    | 0.19%             | 2056-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Tractor Supply Co                                                     | Tractor Supply Co                                                                                                      | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |     29069 | NS      | $1653154.03   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp                                                             | Ball Corp                                                                                                              | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |     19958 | NS      | $1006282.36   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                                                    | Energy Transfer LP                                                                                                     | CUSIP: 29273VAU4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    240000 | PA      | $262509.23    | 0.07%             | 2033-12-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                           | BNP Paribas SA                                                                                                         | CUSIP: 05565AB28<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    115000 | PA      | $113187.57    | 0.03%             | 2027-01-12      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1900000 | PA      | $1360949.21   | 0.34%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                | Sequoia Mortgage Trust 2025-7                                                                                          | CUSIP: 81749VAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    622878 | PA      | $627617.30    | 0.16%             | 2055-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                            | Intel Corp                                                                                                             | CUSIP: 458140BR0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    230000 | PA      | $225613.81    | 0.06%             | 2030-03-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                                        | Lowe's Cos Inc                                                                                                         | CUSIP: 548661EW3<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    165000 | PA      | $163657.69    | 0.04%             | 2032-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                  | Bank of America Corp                                                                                                   | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    340000 | PA      | $344344.03    | 0.09%             | 2030-07-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                           | BBCMS Mortgage Trust 2024-5C27                                                                                         | CUSIP: 05555FAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    138000 | PA      | $145021.40    | 0.04%             | 2057-07-15      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4300000 | PA      | $4350390.63   | 1.10%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc                                          | Thermo Fisher Scientific Inc                                                                                           | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      3109 | NS      | $1507927.18   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                                                 | Costco Wholesale Corp                                                                                                  | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1803 | NS      | $1668910.89   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133KNNV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    275910 | PA      | $245634.44    | 0.06%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | JP Morgan Mortgage Trust 2024-INV1                                                                                     | CUSIP: 46658PAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    308138 | PA      | $312838.16    | 0.08%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179WJS8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    430206 | PA      | $384418.87    | 0.10%             | 2051-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Uber Technologies Inc                                                 | Uber Technologies Inc                                                                                                  | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     13573 | NS      | $1329746.81   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                              | Corebridge Financial Inc                                                                                               | CUSIP: 21871XAT6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    106000 | PA      | $108798.29    | 0.03%             | 2054-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EPR PROPERTIES                                                        | EPR Properties                                                                                                         | CUSIP: 26884UAF6<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              |  | US        |     45000 | PA      | $43321.95     | 0.01%             | 2029-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                               | United Rentals North America Inc                                                                                       | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66931.09     | 0.02%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SCF Equipment Trust Llc                                               | SCF Equipment Leasing 2024-1 LLC                                                                                       | CUSIP: 783896AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $129213.74    | 0.03%             | 2032-04-20      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| JERSEY CENTRAL PWR & LT                                               | Jersey Central Power & Light Co                                                                                        | CUSIP: 476556DH5<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |    111000 | PA      | $112245.93    | 0.03%             | 2036-01-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                                      | Hewlett Packard Enterprise Co                                                                                          | CUSIP: 42824CBU2<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    118000 | PA      | $119232.03    | 0.03%             | 2031-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DQQF6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    784710 | PA      | $732274.05    | 0.19%             | 2049-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                                     | Citigroup Mortgage Loan Trust 2025-3 Trust                                                                             | CUSIP: 17332RAL7<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    354630 | PA      | $356619.08    | 0.09%             | 2055-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Agilent Technologies Inc                                              | Agilent Technologies Inc                                                                                               | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |      6378 | NS      | $818616.30    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae I Pool                                                                                                      | CUSIP: 36209KYV4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       309 | PA      | $314.01       | 0.00%             | 2028-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133AQXM4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    809933 | PA      | $686674.09    | 0.17%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DNQ71<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    100271 | PA      | $92480.24     | 0.02%             | 2050-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ACREC LLC                                                             | ACREC 2023-FL2 LLC                                                                                                     | CUSIP: 00501BAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     76434 | PA      | $76631.21     | 0.02%             | 2038-02-19      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                     | NatWest Group PLC                                                                                                      | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    495000 | PA      | $495573.21    | 0.13%             | 2025-12-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WYNNTON FUNDING TRUST II                                              | Wynnton Funding Trust II                                                                                               | CUSIP: 983197AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147000 | PA      | $150888.50    | 0.04%             | 2055-08-15      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| Williams Cos Inc/The                                                  | Williams Cos Inc/The                                                                                                   | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     31916 | NS      | $2021878.60   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $303492.19    | 0.08%             | 2032-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Radian Mortgage Capital Trust                                         | Radian Mortgage Capital Trust 2025-J3                                                                                  | CUSIP: 75024RAX2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    242402 | PA      | $243882.47    | 0.06%             | 2055-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| STANFORD UNIVERSITY                                                   | Leland Stanford Junior University/The                                                                                  | CUSIP: 85440KAE4<br>LEI: JIUV0DC2REIJXQ26CR37 | Long             | DBT              | CORP              | US        |    225000 | PA      | $226013.20    | 0.06%             | 2035-03-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                              | Duke Energy Progress LLC                                                                                               | CUSIP: 26442UAT1<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    131000 | PA      | $131982.84    | 0.03%             | 2027-03-06      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QUNV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    639556 | PA      | $654496.96    | 0.17%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DPEF1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    211744 | PA      | $188160.02    | 0.05%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust                                      | Provident Funding Mortgage Trust 2025-1                                                                                | CUSIP: 74388NAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    641965 | PA      | $645971.73    | 0.16%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                | US ULTRA BOND CBT DEC25                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        55 | NC      | $157126.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| New Zealand Government Bonds                                          | New Zealand Government Bonds                                                                                           | CUSIP: 000000000<br>LEI: 549300237GPHG2AI7C34 | Long             | DBT              | NUSS              | NZ        |    950000 | PA      | $563704.56    | 0.14%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC                                               | Duke Energy Florida LLC                                                                                                | CUSIP: 26444HAN1<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |     90000 | PA      | $94661.41     | 0.02%             | 2052-11-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                          | Synopsys Inc                                                                                                           | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    274000 | PA      | $279999.75    | 0.07%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                        | Morgan Stanley Residential Mortgage Loan Trust 2025-1                                                                  | CUSIP: 617944AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    283518 | PA      | $287527.20    | 0.07%             | 2055-03-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Inc                                                   | Cheniere Energy Inc                                                                                                    | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      7737 | NS      | $1818040.26   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Capital Management                                           | RCKT Mortgage Trust 2024-CES1                                                                                          | CUSIP: 749424AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    210269 | PA      | $212399.22    | 0.05%             | 2044-02-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA                                              | Blue Owl Technology Finance Corp                                                                                       | CUSIP: 095924AA4<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    241000 | PA      | $244098.59    | 0.06%             | 2028-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                                | Blackstone Private Credit Fund                                                                                         | CUSIP: 09261HBN6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36006.37     | 0.01%             | 2029-07-16      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                                | UnitedHealth Group Inc                                                                                                 | CUSIP: 91324PEW8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    210000 | PA      | $192420.22    | 0.05%             | 2053-04-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae I Pool                                                                                                      | CUSIP: 36208T4S6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        47 | PA      | $48.43        | 0.00%             | 2028-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Missouri Highway & Transportation Commission                          | MISSOURI ST HIGHWAY & TRANSPRTN COMMISSION STATE ROAD REVENU                                                           | CUSIP: 60636WNU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20662.69     | 0.01%             | 2033-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Marriott International Inc/MD                                         | Marriott International Inc/MD                                                                                          | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      5598 | NS      | $1457943.12   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnetite CLO Ltd                                                     | Magnetite Xli Ltd                                                                                                      | CUSIP: 55956AAC9<br>LEI: 529900IDXPZZY6034K03 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250420.50    | 0.06%             | 2038-01-25      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QQ7G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    815874 | PA      | $814456.36    | 0.21%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PK ALIFT LOAN FUNDING                                                 | PK Alift Loan Funding 3 LP                                                                                             | CUSIP: 69291VAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    232271 | PA      | $237702.85    | 0.06%             | 2039-09-15      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| KAISER FOUNDATION HOSPIT                                              | Kaiser Foundation Hospitals                                                                                            | CUSIP: 48305QAG8<br>LEI: DW4Z57L3G4IRMHYZYK62 | Long             | DBT              | CORP              | US        |    105000 | PA      | $69652.94     | 0.02%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                                 | Athene Global Funding                                                                                                  | CUSIP: 04685A3Z2<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    120000 | PA      | $123646.59    | 0.03%             | 2031-07-11      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CNH0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1150000 | PA      | $1157546.88   | 0.29%             | 2028-06-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2024-HYB2 Trust                                                                                                    | CUSIP: 67118RAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    129447 | PA      | $127876.04    | 0.03%             | 2053-04-25      | Variable      | 3.69%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                       | CVS Health Corp                                                                                                        | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     98000 | PA      | $102874.81    | 0.03%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                                   | Elevance Health Inc                                                                                                    | CUSIP: 036752BK8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     69000 | PA      | $68497.96     | 0.02%             | 2036-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140MHUV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    480180 | PA      | $427687.30    | 0.11%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                               | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | US        |         1 | NC      | $1.29         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I LLC                                    | CyrusOne Data Centers Issuer I LLC                                                                                     | CUSIP: 23284BAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $294974.91    | 0.07%             | 2049-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ANTARES HOLDINGS                                                      | Antares Holdings LP                                                                                                    | CUSIP: 03666HAH4<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255645.86    | 0.06%             | 2029-10-23      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| PepsiCo Inc                                                           | PepsiCo Inc                                                                                                            | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     12080 | NS      | $1696515.20   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BRAVO Residential Funding Trust                                       | BRAVO Residential Funding Trust 2024 RPL1                                                                              | CUSIP: 10568TAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375839 | PA      | $347571.30    | 0.09%             | 2063-10-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                                     | Citigroup Mortgage Loan Trust 2025-2                                                                                   | CUSIP: 17292BAK2<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    352889 | PA      | $357791.04    | 0.09%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                         | Carnival Corp                                                                                                          | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    235000 | PA      | $231640.82    | 0.06%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae I Pool                                                                                                      | CUSIP: 36225BNC8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3653 | PA      | $3812.97      | 0.00%             | 2031-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                                                          | Alphabet Inc                                                                                                           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     48326 | NS      | $11748050.60  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                                          | Prologis Inc                                                                                                           | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |     19376 | NS      | $2218939.52   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                                              | Visa Inc                                                                                                               | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      6706 | NS      | $2289294.28   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | PA      | $103843.75    | 0.03%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                                         | Aircastle Ltd                                                                                                          | CUSIP: 00928QAX9<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $210167.85    | 0.05%             | 2028-07-18      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH EDISON CO                                                | Commonwealth Edison Co                                                                                                 | CUSIP: 202795KB5<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |     53000 | PA      | $56338.52     | 0.01%             | 2055-06-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CNN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $301804.69    | 0.08%             | 2030-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc                                                            | Zoetis Inc                                                                                                             | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     10804 | NS      | $1580841.28   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133BJPA4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    126631 | PA      | $124478.45    | 0.03%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DNXS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    195756 | PA      | $196552.79    | 0.05%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                           | RCKT Mortgage Trust 2024-CES2                                                                                          | CUSIP: 74938PAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140579 | PA      | $142271.10    | 0.04%             | 2044-04-25      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| APPLIED MATERIALS INC                                                 | Applied Materials Inc                                                                                                  | CUSIP: 038222AU9<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | DBT              | CORP              | US        |     74000 | PA      | $73233.90     | 0.02%             | 2036-01-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QN4N9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1004931 | PA      | $948086.97    | 0.24%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust 2025-8                                                                               | CUSIP: 16162UAD5<br>LEI: 529900CHSDEA1SX67419 | Long             | ABS-MBS          | CORP              | US        |    596282 | PA      | $605172.31    | 0.15%             | 2056-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc                                                            | Fiserv Inc                                                                                                             | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      4762 | NS      | $613964.66    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                                               | Procter & Gamble Co/The                                                                                                | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     17586 | NS      | $2702088.90   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QQKL8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    990873 | PA      | $989202.98    | 0.25%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                  | Bank of America Corp                                                                                                   | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    145000 | PA      | $151570.34    | 0.04%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                | Diamondback Energy Inc                                                                                                 | CUSIP: 25278XAV1<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    130000 | PA      | $140063.23    | 0.04%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                                   | PURCHASED USD / SOLD NZD                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $15048.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179VMD9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    172957 | PA      | $154624.47    | 0.04%             | 2050-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FS Commerical Mortgage Trust 2023-4SZN                                | FS Commercial Mortgage Trust 2023-4SZN                                                                                 | CUSIP: 30334RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    310000 | PA      | $317029.28    | 0.08%             | 2039-11-10      | Fixed         | 7.07%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                                          | Centene Corp                                                                                                           | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72703.22     | 0.02%             | 2029-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                            | Fiserv Inc                                                                                                             | CUSIP: 337738BQ0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75797.97     | 0.02%             | 2035-08-11      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133BBGS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    369250 | PA      | $340881.25    | 0.09%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| State of California                                                   | CALIFORNIA ST                                                                                                          | CUSIP: 13063BJC7<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |     20000 | PA      | $24596.77     | 0.01%             | 2040-11-01      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                                                   | Sprint Capital Corp                                                                                                    | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |    115000 | PA      | $123699.55    | 0.03%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Cummins Inc                                                           | Cummins Inc                                                                                                            | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      4820 | NS      | $2035823.40   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                                           | Workday Inc                                                                                                            | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      6073 | NS      | $1461953.29   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                | US 10YR ULTRA FUT DEC25                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        23 | NC      | $-15809.94    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Switch ABS Issuer, LLC                                                | Switch ABS Issuer LLC                                                                                                  | CUSIP: 871044AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $226135.94    | 0.06%             | 2054-06-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140N24W8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    267496 | PA      | $263839.04    | 0.07%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CDW Corp/DE                                                           | CDW Corp/DE                                                                                                            | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |      5606 | NS      | $892923.68    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                                 | Wells Fargo & Co                                                                                                       | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    450000 | PA      | $445629.83    | 0.11%             | 2026-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PECO ENERGY CO                                                        | PECO Energy Co                                                                                                         | CUSIP: 693304BJ5<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |     95000 | PA      | $97070.93     | 0.02%             | 2055-09-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| DUKE UNIVERSITY HEALTH                                                | Duke University Health System Inc                                                                                      | CUSIP: 26443CAA1<br>LEI: SYIJ9BNVFR17R33OPQ57 | Long             | DBT              | CORP              | US        |     30000 | PA      | $24188.19     | 0.01%             | 2047-06-01      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                                                        | Microsoft Corp                                                                                                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     38647 | NS      | $20017213.65  | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810RP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $387167.97    | 0.10%             | 2045-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae REMICS                                                                                                      | CUSIP: 3136BQFV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3017312 | PA      | $387202.03    | 0.10%             | 2052-07-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                                              | Medline Borrower LP/Medline Co-Issuer Inc                                                                              | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    177000 | PA      | $181496.62    | 0.05%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                                  | Glencore Funding LLC                                                                                                   | CUSIP: 378272BV9<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45437.65     | 0.01%             | 2054-04-04      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange Inc                                         | Intercontinental Exchange Inc                                                                                          | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      7292 | NS      | $1228556.16   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                                                 | Applied Materials Inc                                                                                                  | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      3549 | NS      | $726622.26    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CNW7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400000 | PA      | $398812.50    | 0.10%             | 2032-08-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                 | Foundry JV Holdco LLC                                                                                                  | CUSIP: 350930AF0<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    310000 | PA      | $321677.90    | 0.08%             | 2031-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 3622ABQ54<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    590242 | PA      | $504026.03    | 0.13%             | 2050-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                                        | Trust Fibra Uno                                                                                                        | CUSIP: 89834JAB9<br>LEI: N/A                  | Long             | DBT              |  | MX        |    200000 | PA      | $216037.80    | 0.05%             | 2032-01-23      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| SHELL FINANCE US INC                                                  | Shell Finance US Inc                                                                                                   | CUSIP: 822905AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $61154.71     | 0.02%             | 2045-05-11      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                      | Paramount Global                                                                                                       | CUSIP: 92553PAP7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    197000 | PA      | $152059.32    | 0.04%             | 2043-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                             | Boeing Co/The                                                                                                          | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127547.77    | 0.03%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                           | Southern Co/The                                                                                                        | CUSIP: 842587DF1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124546.11    | 0.03%             | 2051-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | J.P. Morgan Mortgage Trust 2024-10                                                                                     | CUSIP: 46658LAK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    230404 | PA      | $230929.98    | 0.06%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp                                                           | NVIDIA Corp                                                                                                            | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    108821 | NS      | $20303822.18  | 5.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FLOWERS FOODS INC                                                     | Flowers Foods Inc                                                                                                      | CUSIP: 343498AD3<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96762.53     | 0.02%             | 2035-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International plc                                    | Johnson Controls International plc                                                                                     | CUSIP: 000000000<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |     30357 | NS      | $3337752.15   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                               | Saluda Grade Alternative Mortgage Trust 2024-CES1                                                                      | CUSIP: 79581VAA0<br>LEI: 213800ETGZN4SIG56R83 | Long             | ABS-MBS          | CORP              | US        |    281469 | PA      | $284447.25    | 0.07%             | 2054-03-25      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                | Verizon Communications Inc                                                                                             | CUSIP: 92343VFW9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    110000 | PA      | $67824.94     | 0.02%             | 2056-10-30      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| ARM Holdings PLC                                                      | ARM Holdings PLC                                                                                                       | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |      3406 | NS      | $481914.94    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DWE66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    282201 | PA      | $274993.32    | 0.07%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                                       | Nordea Bank Abp                                                                                                        | CUSIP: 65559CAA9<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    515000 | PA      | $517672.85    | 0.13%             | 2026-03-26      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810RM2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | PA      | $466921.87    | 0.12%             | 2045-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                                   | United Airlines Inc                                                                                                    | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128009.54    | 0.03%             | 2029-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FIRST CITIZENS BANCSHARE                                              | First Citizens BancShares Inc/NC                                                                                       | CUSIP: 319626AA5<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |    180000 | PA      | $179524.39    | 0.05%             | 2035-09-05      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust Series 2024-2                                                                        | CUSIP: 161929BH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    129554 | PA      | $131127.33    | 0.03%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                | Sequoia Mortgage Trust 2024-8                                                                                          | CUSIP: 81749NAE5<br>LEI: 54930005PH54PMVV8351 | Long             | ABS-MBS          | CORP              | US        |    155397 | PA      | $156084.52    | 0.04%             | 2054-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Cigna Group/The                                                       | Cigna Group/The                                                                                                        | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      5945 | NS      | $1713646.25   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Flexential Issuer, LLC                                                | Flexential Issuer 2021-1                                                                                               | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    414000 | PA      | $401861.60    | 0.10%             | 2051-11-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Duke Energy Progress LLC                                              | Duke Energy Progress LLC                                                                                               | CUSIP: 26442RAD3<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    175000 | PA      | $148536.11    | 0.04%             | 2044-12-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179XHY5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    950559 | PA      | $928585.34    | 0.23%             | 2052-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                            | LOS ANGELES CA DEPT OF ARPTS                                                                                           | CUSIP: 544435C32<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |     25000 | PA      | $27157.89     | 0.01%             | 2039-05-15      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors                                          | State Street Institutional US Government Money Market Fund                                                             | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   5666376 | NS      | $5666375.88   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc                                               | O'Reilly Automotive Inc                                                                                                | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |     14955 | NS      | $1612298.55   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TENET HEALTHCARE CORP                                                 | Tenet Healthcare Corp                                                                                                  | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     57000 | PA      | $56895.39     | 0.01%             | 2027-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                              | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT                                                            | CUSIP: 38122NB50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $199592.08    | 0.05%             | 2034-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                                          | NiSource Inc                                                                                                           | CUSIP: 65473PAX3<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    144000 | PA      | $147027.89    | 0.04%             | 2035-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                                | CHL Mortgage Pass-Through Trust 2005-17                                                                                | CUSIP: 12669G5X5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       192 | PA      | $181.07       | 0.00%             | 2035-09-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Federal Home Loan Mortgage Corp                                                                                        | CUSIP: 3134A4KX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGSE             | US        |    700000 | PA      | $794596.11    | 0.20%             | 2032-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QN3F7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    667795 | PA      | $620446.64    | 0.16%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                                    | Realty Income Corp                                                                                                     | CUSIP: 756109CX0<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |     81000 | PA      | $80114.67     | 0.02%             | 2033-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XMY42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    258137 | PA      | $218478.24    | 0.06%             | 2052-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Linde PLC                                                             | Linde PLC                                                                                                              | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      5260 | NS      | $2498500.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                 | Venture Global Plaquemines LNG LLC                                                                                     | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    104000 | PA      | $110466.41    | 0.03%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                       | CVS Health Corp                                                                                                        | CUSIP: 126650EE6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    170000 | PA      | $172467.19    | 0.04%             | 2044-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140MKAG7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    220826 | PA      | $210286.75    | 0.05%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATLAS WAREHOUSE LEND                                                  | Atlas Warehouse Lending Co LP                                                                                          | CUSIP: 049463AE2<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |    390000 | PA      | $401000.74    | 0.10%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36202CNT6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       137 | PA      | $140.31       | 0.00%             | 2026-04-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos Inc                                              | Marsh & McLennan Cos Inc                                                                                               | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      5724 | NS      | $1153557.72   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumter Landing Community Development District                         | SUMTER LANDING FL CDD RECREATIONAL REVENUE                                                                             | CUSIP: 86657MCH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25966.50     | 0.01%             | 2040-10-01      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                             | Apple Inc                                                                                                              | CUSIP: 037833FA3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    176000 | PA      | $179612.90    | 0.05%             | 2032-05-12      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MongoDB Inc                                                           | MongoDB Inc                                                                                                            | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      2338 | NS      | $725668.44    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | JP Morgan Mortgage Trust 2024-11                                                                                       | CUSIP: 46659AAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    213867 | PA      | $215639.18    | 0.05%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                                                          | CUSIP: 172967QH7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111116.26    | 0.03%             | 2036-09-11      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133KL2S5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    619270 | PA      | $526986.16    | 0.13%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                                         | AppLovin Corp                                                                                                          | CUSIP: 03831WAB4<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46035.28     | 0.01%             | 2029-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Airbnb Inc                                                            | Airbnb Inc                                                                                                             | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      3559 | NS      | $432133.78    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                                                | Arizona Public Service Co                                                                                              | CUSIP: 040555DH4<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |    123000 | PA      | $128873.21    | 0.03%             | 2034-08-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                      | Fannie Mae Connecticut Avenue Securities                                                                               | CUSIP: 30711XJV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     35828 | PA      | $36482.00     | 0.01%             | 2029-10-25      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                                      | Societe Generale SA                                                                                                    | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $214453.80    | 0.05%             | 2027-11-22      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                                    | Subway Funding LLC                                                                                                     | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    483348 | PA      | $490020.26    | 0.12%             | 2054-07-30      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140FS6H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14283 | PA      | $14216.17     | 0.00%             | 2047-03-01      | Floating      | 3.18%                 | No            |                  2 | On Loan: No      |
| ICON INVESTMENTS SIX DAC                                              | Icon Investments Six DAC                                                                                               | CUSIP: 45115AAC8<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |    110000 | PA      | $115467.25    | 0.03%             | 2034-05-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                       | Long: BPED05UQ1 CDS USD R V 03MEVENT SPED05UQ1_PRO CCPCDX / Short: BPED05UQ1 CDS USD P F  5.00000 SPED05UQ1_FEE CCPCDX | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |   4850000 | OU      | $-387369.45   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| IQVIA INC                                                             | IQVIA Inc                                                                                                              | CUSIP: 46266TAF5<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    179000 | PA      | $188421.67    | 0.05%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DBSG 2024-ALTA Mortgage Trust                                         | DBSG 2024-ALTA Mortgage Trust                                                                                          | CUSIP: 239918AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    229000 | PA      | $232735.70    | 0.06%             | 2037-06-10      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                                  | M&T Bank Corp                                                                                                          | CUSIP: 55261FAH7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15930.00     | 0.00%             | 2026-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BEACON FUNDING TRUST                                                  | Beacon Funding Trust                                                                                                   | CUSIP: 073952AB9<br>LEI: 984500A80A2EBF5A7C93 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127916.03    | 0.03%             | 2054-08-15      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                               | Bristol-Myers Squibb Co                                                                                                | CUSIP: 110122EK0<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    155000 | PA      | $154482.36    | 0.04%             | 2054-02-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CKX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400000 | PA      | $407953.12    | 0.10%             | 2029-06-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                | US LONG BOND(CBT) DEC25                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         7 | NC      | $14751.97     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Rate Mortgage Trust                                                   | RATE Mortgage Trust 2024-J3                                                                                            | CUSIP: 75409UAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    118866 | PA      | $119193.58    | 0.03%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE                                                            | Federal National Mortgage Association                                                                                  | CUSIP: 3135G05Y5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |    600000 | PA      | $566998.82    | 0.14%             | 2027-10-08      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                              | Lloyds Banking Group PLC                                                                                               | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    220000 | PA      | $222321.00    | 0.06%             | 2026-06-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                                                                    | CUSIP: 46647PEK8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     88000 | PA      | $90893.01     | 0.02%             | 2035-07-22      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                                                                    | CUSIP: 46647PEH5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    272000 | PA      | $289785.28    | 0.07%             | 2035-04-22      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                               | Public Service Electric and Gas Co                                                                                     | CUSIP: 74456QCV6<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |    155000 | PA      | $155682.04    | 0.04%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XKZH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    528613 | PA      | $491052.32    | 0.12%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                               | HCA Inc                                                                                                                | CUSIP: 404119DC0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     54000 | PA      | $55743.25     | 0.01%             | 2055-03-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DPM96<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    528003 | PA      | $543101.28    | 0.14%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GCAT                                                                  | GCAT 2024-INV2 Trust                                                                                                   | CUSIP: 36170KAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    166335 | PA      | $168558.99    | 0.04%             | 2054-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Rate Mortgage Trust                                                   | Rate Mortgage Trust 2024-J1                                                                                            | CUSIP: 75410PAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    188906 | PA      | $190262.44    | 0.05%             | 2054-07-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| TJX Cos Inc/The                                                       | TJX Cos Inc/The                                                                                                        | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     17505 | NS      | $2530172.70   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SWCH Commercial Mortgage Trust                                        | SWCH Commercial Mortgage Trust 2025-DATA                                                                               | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    490000 | PA      | $487397.46    | 0.12%             | 2042-02-15      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL                                               | Southern Co Gas Capital Corp                                                                                           | CUSIP: 8426EPAK4<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |    158000 | PA      | $158413.03    | 0.04%             | 2035-09-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                                           | Hologic Inc                                                                                                            | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |     45000 | PA      | $43451.62     | 0.01%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                                          | SM Energy Co                                                                                                           | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    108000 | PA      | $107963.12    | 0.03%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                                       | Danske Bank A/S                                                                                                        | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    700000 | PA      | $694387.83    | 0.18%             | 2026-05-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                                                   | Ashtead Capital Inc                                                                                                    | CUSIP: 045054AR4<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    200000 | PA      | $211404.74    | 0.05%             | 2033-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QS4H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    521814 | PA      | $537696.38    | 0.14%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                                   | GS Mortgage-Backed Securities Trust 2024-PJ1                                                                           | CUSIP: 36268VAZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    366954 | PA      | $369756.14    | 0.09%             | 2054-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                           | Oracle Corp                                                                                                            | CUSIP: 68389XCV5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     85000 | PA      | $77845.94     | 0.02%             | 2064-09-27      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                              | Madison Park Funding Lxviii Ltd                                                                                        | CUSIP: 55822XAG2<br>LEI: 213800XCOFXF5X7M9P78 | Long             | ABS-CBDO         | CORP              | JE        |    332000 | PA      | $332934.91    | 0.08%             | 2038-01-20      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | J.P. Morgan Mortgage Trust 2023-8                                                                                      | CUSIP: 46657CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    109363 | PA      | $110909.54    | 0.03%             | 2054-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Foothill-Eastern Transportation Corridor Agency                       | FOOTHILL ESTRN TRANSPRTN CORRIDOR AGY CA TOLL ROAD REVENUE                                                             | CUSIP: 345105JE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $68361.12     | 0.02%             | 2049-01-15      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| California State University                                           | CALIFORNIA ST UNIV REVENUE                                                                                             | CUSIP: 13077DKU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $138921.66    | 0.04%             | 2051-11-01      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                                                | Standard Chartered PLC                                                                                                 | CUSIP: 85325C2J0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202937.77    | 0.05%             | 2036-08-12      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Sumter Landing Community Development District                         | SUMTER LANDING FL CDD RECREATIONAL REVENUE                                                                             | CUSIP: 86657MCJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $41051.04     | 0.01%             | 2045-10-01      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XGST7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    228192 | PA      | $208708.18    | 0.05%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                                           | Netflix Inc                                                                                                            | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      2038 | NS      | $2443398.96   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc                                            | Cadence Design Systems Inc                                                                                             | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      7588 | NS      | $2665360.88   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179V7E4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    544134 | PA      | $469775.82    | 0.12%             | 2051-02-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                        | Morgan Stanley                                                                                                         | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    112000 | PA      | $114646.73    | 0.03%             | 2029-04-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                                  | Royal Bank of Canada                                                                                                   | CUSIP: 78017DAC2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    243000 | PA      | $250347.95    | 0.06%             | 2031-02-04      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CNF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2300000 | PA      | $2329109.38   | 0.59%             | 2032-05-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Sumter Landing Community Development District                         | SUMTER LANDING FL CDD RECREATIONAL REVENUE                                                                             | CUSIP: 86657MCK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $71560.03     | 0.02%             | 2054-10-01      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Intuitive Surgical Inc                                                | Intuitive Surgical Inc                                                                                                 | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      2379 | NS      | $1063960.17   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                                           | Oracle Corp                                                                                                            | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225270.56    | 0.06%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                       | BRAVO Residential Funding Trust 2024-NQM2                                                                              | CUSIP: 10569KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    321076 | PA      | $325086.41    | 0.08%             | 2064-02-25      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| Xylem Inc/NY                                                          | Xylem Inc/NY                                                                                                           | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |     14230 | NS      | $2098925.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Arizona Biltmore Trust                                                | ARZ Trust 2024-BILT                                                                                                    | CUSIP: 00218TAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    207000 | PA      | $212868.74    | 0.05%             | 2039-06-11      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| Ecolab Inc                                                            | Ecolab Inc                                                                                                             | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      5430 | NS      | $1487059.80   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CJG7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2800000 | PA      | $2943171.87   | 0.74%             | 2030-10-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mastercard Inc                                                        | Mastercard Inc                                                                                                         | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      7659 | NS      | $4356515.79   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE'S COS INC                                                        | Lowe's Cos Inc                                                                                                         | CUSIP: 548661EX1<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109089.86    | 0.03%             | 2035-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| COLBUN SA                                                             | Colbun SA                                                                                                              | CUSIP: 192714AF0<br>LEI: 5493003VQJLE2QB8IF36 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $199680.00    | 0.05%             | 2035-09-11      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | J.P. Morgan Mortgage Trust 2024-10                                                                                     | CUSIP: 46658LAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    328476 | PA      | $330152.08    | 0.08%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133BBGD5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    378691 | PA      | $360616.97    | 0.09%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                          | Broadcom Inc                                                                                                           | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     25920 | NS      | $8551267.20   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                                                  | Bank of America Corp                                                                                                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     67216 | NS      | $3467673.44   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORP                                                             | AGCO Corp                                                                                                              | CUSIP: 001084AS1<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |    121000 | PA      | $125781.36    | 0.03%             | 2034-03-21      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO, LTD                                | GoldenTree Loan Management US CLO 23 Ltd                                                                               | CUSIP: 38139KAJ8<br>LEI: 254900TP00US14X9AP48 | Long             | ABS-CBDO         | CORP              | KY        |    325000 | PA      | $326004.25    | 0.08%             | 2039-01-20      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| GILDAN ACTIVEWEAR INC                                                 | Gildan Activewear Inc                                                                                                  | CUSIP: 375916AF0<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |     65000 | PA      | $64901.92     | 0.02%             | 2030-10-07      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust 2024-10                                                                              | CUSIP: 16159YAD2<br>LEI: 529900OE9S6KWRJHHJ57 | Long             | ABS-MBS          | CORP              | US        |    337300 | PA      | $341558.31    | 0.09%             | 2055-10-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                                                 | RIO TINTO FIN USA PLC                                                                                                  | CUSIP: 76720AAV8<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    107000 | PA      | $110119.67    | 0.03%             | 2055-03-14      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COX COMMUNICATIONS INC                                                | Cox Communications Inc                                                                                                 | CUSIP: 224044CS4<br>LEI: 5493001NEDZNIFRP2R92 | Long             | DBT              | CORP              | US        |    117000 | PA      | $119556.47    | 0.03%             | 2033-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Tesla Inc                                                             | Tesla Inc                                                                                                              | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      9279 | NS      | $4126556.88   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| INTESA SANPAOLO SPA                                                   | Intesa Sanpaolo SpA                                                                                                    | CUSIP: 46115HBQ9<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $189048.91    | 0.05%             | 2032-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Mortgage Corp                                                | ABN Amro Mortgage Corp                                                                                                 | CUSIP: 000780BZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       249 | PA      | $246.10       | 0.00%             | 2033-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc/The                                                    | Home Depot Inc/The                                                                                                     | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      8894 | NS      | $3603759.86   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                              | Warnermedia Holdings Inc                                                                                               | CUSIP: 55903VBA0<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    176000 | PA      | $170816.80    | 0.04%             | 2027-03-15      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                           | BNP Paribas SA                                                                                                         | CUSIP: 05565A5R0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $213670.40    | 0.05%             | 2028-08-14      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                 | Wells Fargo & Co                                                                                                       | CUSIP: 95000U3F8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     85000 | PA      | $89284.09     | 0.02%             | 2034-07-25      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| EASTERN ENERGY GAS                                                    | Eastern Energy Gas Holdings LLC                                                                                        | CUSIP: 27636AAA0<br>LEI: 549300BFOD6TDMVV4O24 | Long             | DBT              | CORP              | US        |     63000 | PA      | $62067.83     | 0.02%             | 2054-10-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                                   | GS Mortgage-Backed Securities Trust 2023-PJ4                                                                           | CUSIP: 36270XAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    188951 | PA      | $191084.22    | 0.05%             | 2054-01-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                           | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $894.53       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                | General Motors Financial Co Inc                                                                                        | CUSIP: 37045XFK7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    145000 | PA      | $151641.18    | 0.04%             | 2035-07-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Regents of the University of California Medical Center Pooled Revenue | UNIV OF CALIFORNIA CA RGTS MED CENTER POOLED REVENUE                                                                   | CUSIP: 913366KC3<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |    100000 | PA      | $64181.76     | 0.02%             | 2060-05-15      | Fixed         | 3.26%                 | No            |                  2 | On Loan: No      |
| KILROY REALTY LP                                                      | Kilroy Realty LP                                                                                                       | CUSIP: 49427RAP7<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              |  | US        |     90000 | PA      | $83055.07     | 0.02%             | 2030-02-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Wind River CLO Ltd                                                    | THL Credit Wind River 2013-2 CLO Ltd                                                                                   | CUSIP: 97314CAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     69444 | PA      | $69451.48     | 0.02%             | 2030-10-18      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3138LSL65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    103091 | PA      | $97942.89     | 0.02%             | 2042-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                           | Citibank NA                                                                                                            | CUSIP: 17325FBP2<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256858.01    | 0.06%             | 2030-05-29      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| FedEx Corp                                                            | FedEx Corp                                                                                                             | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |      3279 | NS      | $773220.99    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE UNIVERSITY                                                       | Duke University                                                                                                        | CUSIP: 26442TAE7<br>LEI: FY5ICUIRRDCHN4HHL592 | Long             | DBT              | CORP              | US        |    110000 | PA      | $80121.33     | 0.02%             | 2046-10-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Arista Networks Inc                                                   | Arista Networks Inc                                                                                                    | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     12310 | NS      | $1793690.10   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QS4T5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    822822 | PA      | $842866.93    | 0.21%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400000 | PA      | $386031.25    | 0.10%             | 2043-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp                                                  | Parker-Hannifin Corp                                                                                                   | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      1588 | NS      | $1203942.20   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO LOGISTICS INC                                                     | GXO Logistics Inc                                                                                                      | CUSIP: 36262GAG6<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |     90000 | PA      | $96763.94     | 0.02%             | 2034-05-06      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                              | Ford Motor Credit Co LLC                                                                                               | CUSIP: 345397E74<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202472.48    | 0.05%             | 2027-05-17      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XKAQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    194400 | PA      | $165472.83    | 0.04%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                       | BRAVO Residential Funding Trust 2024-CES1                                                                              | CUSIP: 10570NAA6<br>LEI: 254900UJENIYH5UEYD42 | Long             | ABS-MBS          | CORP              | US        |    220525 | PA      | $223720.36    | 0.06%             | 2054-04-25      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                                   | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $868.40       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                                              | HPS Corporate Lending Fund                                                                                             | CUSIP: 40440VAH8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65591.06     | 0.02%             | 2028-01-14      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                               | PURCHASED USD / SOLD EUR                                                                                               | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | US        |         1 | NC      | $838.67       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Electricite de France SA                                              | Electricite de France SA                                                                                               | CUSIP: 268317AC8<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    211000 | PA      | $236098.41    | 0.06%             | 2039-01-26      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                             | Sunoco LP                                                                                                              | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    141000 | PA      | $139779.20    | 0.04%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                         | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                                                                           | CUSIP: 646139X83<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |     85000 | PA      | $98470.69     | 0.02%             | 2041-01-01      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| ServiceNow Inc                                                        | ServiceNow Inc                                                                                                         | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      2171 | NS      | $1997927.88   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                                                            | Sysco Corp                                                                                                             | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     23372 | NS      | $1924450.48   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN STATES PWR-MINN                                              | Northern States Power Co/MN                                                                                            | CUSIP: 665772DA4<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |     66000 | PA      | $67722.08     | 0.02%             | 2055-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DWGS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1587072 | PA      | $1627688.54   | 0.41%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                               | Hyundai Capital America                                                                                                | CUSIP: 44891ACR6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53000.38     | 0.01%             | 2029-01-16      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                                  | Royal Bank of Canada                                                                                                   | CUSIP: 78017DAM0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    149000 | PA      | $150950.58    | 0.04%             | 2031-08-06      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                                     | Cisco Systems Inc                                                                                                      | CUSIP: 17275RCA8<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    104000 | PA      | $105821.45    | 0.03%             | 2055-02-24      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                             | Towd Point Mortgage Trust 2024-CES3                                                                                    | CUSIP: 89183EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220780 | PA      | $223556.64    | 0.06%             | 2064-05-25      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                              | Ford Motor Credit Co LLC                                                                                               | CUSIP: 345397D42<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $213815.85    | 0.05%             | 2030-06-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                                   | Charles Schwab Corp/The                                                                                                | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    453000 | PA      | $447904.20    | 0.11%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN NATURAL GAS                                                  | Southern Natural Gas Co LLC                                                                                            | CUSIP: 84346LAD2<br>LEI: 254900KDLS1X42SY7037 | Long             | DBT              | CORP              | US        |     52000 | PA      | $53046.44     | 0.01%             | 2035-08-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Deere & Co                                                            | Deere & Co                                                                                                             | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      2476 | NS      | $1132175.76   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                                                    | Analog Devices Inc                                                                                                     | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     12243 | NS      | $3008105.10   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| PMT Loan Trust                                                        | PMT Loan Trust 2025-J2                                                                                                 | CUSIP: 69392TAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    814764 | PA      | $820161.23    | 0.21%             | 2056-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| MetLife Inc                                                           | MetLife Inc                                                                                                            | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     21906 | NS      | $1804397.22   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| City of Houston TX                                                    | HOUSTON TX                                                                                                             | CUSIP: 4423313K8<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |     25000 | PA      | $21459.61     | 0.01%             | 2047-03-01      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                                | Canadian Imperial Bank of Commerce                                                                                     | CUSIP: 13607P7Y4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $138630.83    | 0.04%             | 2085-10-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE GAS & ELEC                                                 | Louisville Gas and Electric Co                                                                                         | CUSIP: 546676BA4<br>LEI: KO3GRIB3RPH1XDX50U72 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30837.49     | 0.01%             | 2055-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                            | Australia & New Zealand Banking Group Ltd.                                                                             | CUSIP: 05254HAA2<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    206000 | PA      | $208598.28    | 0.05%             | 2026-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | JP Morgan Mortgage Trust Series 2025-2                                                                                 | CUSIP: 46593NAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    454355 | PA      | $460433.19    | 0.12%             | 2055-07-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                                | Sempra                                                                                                                 | CUSIP: 816851BK4<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    316000 | PA      | $315936.80    | 0.08%             | 2025-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                    | Meta Platforms Inc                                                                                                     | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      9009 | NS      | $6616029.42   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodgreen Trust                                                       | Goodgreen 2020-1 Trust                                                                                                 | CUSIP: 38217TAA3<br>LEI: 549300X0P2BXCQULUH20 | Long             | ABS-O            | CORP              | US        |    140914 | PA      | $117306.72    | 0.03%             | 2055-04-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                 | Foundry JV Holdco LLC                                                                                                  | CUSIP: 350930AK9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    320000 | PA      | $344121.63    | 0.09%             | 2039-01-25      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                              | Mars Inc                                                                                                               | CUSIP: 571676BB0<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131875.40    | 0.03%             | 2045-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO                                                     | Mountain View CLO 2017-2 LLC                                                                                           | CUSIP: 62432LAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    110307 | PA      | $110394.42    | 0.03%             | 2031-01-16      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc                                            | Verizon Communications Inc                                                                                             | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     18244 | NS      | $801823.80    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| HYATT HOTELS CORP                                                     | Hyatt Hotels Corp                                                                                                      | CUSIP: 448579AV4<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |     66000 | PA      | $68832.71     | 0.02%             | 2032-03-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                                               | Australia & New Zealand Banking Group Ltd                                                                              | CUSIP: 052528AM8<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    254000 | PA      | $226516.06    | 0.06%             | 2035-11-25      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XHN94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    138174 | PA      | $130912.41    | 0.03%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                           | RCKT Mortgage Trust 2024-CES4                                                                                          | CUSIP: 74939FAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    312587 | PA      | $316740.13    | 0.08%             | 2044-06-25      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| KKR & Co Inc                                                          | KKR & Co Inc                                                                                                           | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |      9601 | NS      | $1247649.95   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae                                                                                                             | CUSIP: 21H0526A1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    668000 | PA      | $672971.44    | 0.17%             | 2054-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goodgreen Trust                                                       | Goodgreen 2018-1                                                                                                       | CUSIP: 38218GAA0<br>LEI: 549300X0P2BXCQULUH20 | Long             | ABS-O            | CORP              | KY        |     55898 | PA      | $51642.96     | 0.01%             | 2053-10-15      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| Crowdstrike Holdings Inc                                              | Crowdstrike Holdings Inc                                                                                               | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      2204 | NS      | $1080797.52   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                                                        | GE Vernova Inc                                                                                                         | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      1886 | NS      | $1159701.40   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                                                          | CUSIP: 17327CAY9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75731.96     | 0.02%             | 2056-03-04      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH EDISON CO                                                | Commonwealth Edison Co                                                                                                 | CUSIP: 202795JY7<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |     56000 | PA      | $54263.51     | 0.01%             | 2053-02-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                                        | Home Depot Inc/The                                                                                                     | CUSIP: 437076DK5<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |     72000 | PA      | $71287.50     | 0.02%             | 2035-09-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                   | Petroleos Mexicanos                                                                                                    | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    465000 | PA      | $450403.46    | 0.11%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                           | MF1 2021-FL7 Ltd                                                                                                       | CUSIP: 55284AAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $350053.41    | 0.09%             | 2036-10-16      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN AB                                              | Svenska Handelsbanken AB                                                                                               | CUSIP: 000000000<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |    200000 | PA      | $196142.27    | 0.05%             | 2027-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Cencora Inc                                                           | Cencora Inc                                                                                                            | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      3597 | NS      | $1124170.41   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SKANDINAVISKA ENSKILDA                                                | Skandinaviska Enskilda Banken AB                                                                                       | CUSIP: 000000000<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |    400000 | PA      | $409906.44    | 0.10%             | 2027-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                                              | Solstice Advanced Materials Inc                                                                                        | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70231.27     | 0.02%             | 2033-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Rate Mortgage Trust                                                   | Rate Mortgage Trust 205-J1                                                                                             | CUSIP: 75410CAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155092 | PA      | $155644.26    | 0.04%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Issuer LLC                                 | New Economy Assets - Phase 1 Sponsor LLC                                                                               | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $331786.10    | 0.08%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                               | Goldman Sachs Group Inc/The                                                                                            | CUSIP: 38141GB60<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    154000 | PA      | $155962.68    | 0.04%             | 2030-10-23      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| SIEMENS FINANCIERINGSMAT                                              | Siemens Financieringsmaatschappij NV                                                                                   | CUSIP: 82620KAZ6<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $246887.49    | 0.06%             | 2026-03-11      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                        | Morgan Stanley Residential Mortgage Loan Trust 2025-1                                                                  | CUSIP: 617944AE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    242689 | PA      | $245677.18    | 0.06%             | 2055-03-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                                              | Banco Bilbao Vizcaya Argentaria SA                                                                                     | CUSIP: 05946KAF8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $199861.46    | 0.05%             | 2027-11-16      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                | US 10YR NOTE (CBT)DEC25                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         9 | NC      | $1154.32      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Towd Point Mortgage Trust                                             | Towd Point Mortgage Trust 2024-1                                                                                       | CUSIP: 89182NAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    379029 | PA      | $390742.19    | 0.10%             | 2064-03-25      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133KQEW2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    131311 | PA      | $133281.41    | 0.03%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                               | Dell International LLC / EMC Corp                                                                                      | CUSIP: 24703DBS9<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189560.77    | 0.05%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                              | AT&T Inc                                                                                                               | CUSIP: 00206RDG4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26982.61     | 0.01%             | 2041-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QN7H9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    741172 | PA      | $679813.48    | 0.17%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE                                                            | Federal National Mortgage Association                                                                                  | CUSIP: 3135G05Q2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |    800000 | PA      | $699344.78    | 0.18%             | 2030-08-05      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                      | T-Mobile USA Inc                                                                                                       | CUSIP: 87264ADV4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    191000 | PA      | $213583.92    | 0.05%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                                                                    | CUSIP: 46647PDX1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    329000 | PA      | $347185.42    | 0.09%             | 2029-10-23      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| CNO FINANCIAL GROUP INC                                               | CNO Financial Group Inc                                                                                                | CUSIP: 12621EAM5<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | DBT              | CORP              | US        |     87000 | PA      | $92322.10     | 0.02%             | 2034-06-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| GXO LOGISTICS INC                                                     | GXO Logistics Inc                                                                                                      | CUSIP: 36262GAF8<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |    297000 | PA      | $311897.60    | 0.08%             | 2029-05-06      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NORTHERN NATURAL GAS CO                                               | Northern Natural Gas Co                                                                                                | CUSIP: 665501AN2<br>LEI: 5493007M02M6CT9EXE41 | Long             | DBT              | CORP              | US        |     65000 | PA      | $63748.46     | 0.02%             | 2054-02-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| EPR Properties                                                        | EPR Properties                                                                                                         | CUSIP: 26884UAE9<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              |  | US        |    215000 | PA      | $216663.25    | 0.05%             | 2028-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                           | RCKT Mortgage Trust 2024-CES3                                                                                          | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    101953 | PA      | $103606.28    | 0.03%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPCO                                               | Columbia Pipelines Operating Co LLC                                                                                    | CUSIP: 19828TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $149385.08    | 0.04%             | 2033-11-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| UNION ELECTRIC CO                                                     | Union Electric Co                                                                                                      | CUSIP: 906548CW0<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88160.54     | 0.02%             | 2053-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| WEIR GROUP INC                                                        | Weir Group Inc                                                                                                         | CUSIP: 94877DAA2<br>LEI: 2138009WEPEV2V98AV65 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205749.05    | 0.05%             | 2030-05-06      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae I Pool                                                                                                      | CUSIP: 36204DT66<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     14568 | PA      | $14429.56     | 0.00%             | 2041-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MIRA Trust                                                            | MIRA Trust 2023-MILE                                                                                                   | CUSIP: 55318EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    314000 | PA      | $326587.32    | 0.08%             | 2038-06-10      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Aligned Data Centers Issuer LLC                                       | Aligned Data Centers Issuer LLC                                                                                        | CUSIP: 01627AAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    226000 | PA      | $220240.39    | 0.06%             | 2046-08-15      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds                                  | Chile Government International Bonds                                                                                   | CUSIP: 168863EA2<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     70000 | PA      | $67805.50     | 0.02%             | 2054-01-05      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Ferguson Enterprises Inc                                              | Ferguson Enterprises Inc                                                                                               | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |      4664 | NS      | $1047441.12   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sequoia Mortgage Trust                                                | Sequoia Mortgage Trust 2024-10                                                                                         | CUSIP: 81749QAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    132292 | PA      | $132570.68    | 0.03%             | 2054-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                 | Wells Fargo & Co                                                                                                       | CUSIP: 95000U2M4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    130000 | PA      | $121401.15    | 0.03%             | 2051-04-04      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2025-J1 Trust                                                                                                      | CUSIP: 673923AD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275254 | PA      | $279326.57    | 0.07%             | 2055-05-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                           | RCKT Mortgage Trust 2024-CES8                                                                                          | CUSIP: 749421AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    270156 | PA      | $272397.65    | 0.07%             | 2044-11-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                        | Morgan Stanley                                                                                                         | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     19395 | NS      | $3083029.20   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3142GQLF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    520083 | PA      | $539269.64    | 0.14%             | 2053-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                        | Morgan Stanley                                                                                                         | CUSIP: 61747YFR1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     63000 | PA      | $67160.70     | 0.02%             | 2035-04-19      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| KENTUCKY UTILITIES CO                                                 | Kentucky Utilities Co                                                                                                  | CUSIP: 491674BP1<br>LEI: AGX0G2MXE54NFNNICD28 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30824.37     | 0.01%             | 2055-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2024-NQM7 Trust                                                                                                    | CUSIP: 67119FAA1<br>LEI: 254900FVMB3WTXJGGR91 | Long             | ABS-MBS          | CORP              | US        |    115958 | PA      | $117544.87    | 0.03%             | 2064-03-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                              | Mars Inc                                                                                                               | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75970.96     | 0.02%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust 2025-5                                                                               | CUSIP: 161935AE1<br>LEI: 529900V91KVGSU3Z1A61 | Long             | ABS-MBS          | CORP              | US        |    514871 | PA      | $518038.28    | 0.13%             | 2056-04-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC                                                     | Golub Capital BDC Inc                                                                                                  | CUSIP: 38173MAD4<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    119000 | PA      | $125790.23    | 0.03%             | 2028-12-05      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                            | Intel Corp                                                                                                             | CUSIP: 458140CM0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |     97000 | PA      | $93137.23     | 0.02%             | 2054-02-21      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| NORDSON CORP                                                          | Nordson Corp                                                                                                           | CUSIP: 655663AC6<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201088.27    | 0.05%             | 2029-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                       | CVS Health Corp                                                                                                        | CUSIP: 126650EK2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     73000 | PA      | $74284.97     | 0.02%             | 2035-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 37 Ltd                                                    | Elmwood CLO 37 Ltd                                                                                                     | CUSIP: 29004UAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    325000 | PA      | $326062.75    | 0.08%             | 2038-01-17      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| Ameriprise Financial Inc                                              | Ameriprise Financial Inc                                                                                               | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      3035 | NS      | $1490943.75   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BPCE SA                                                               | BPCE SA                                                                                                                | CUSIP: 05578QAH6<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $226180.59    | 0.06%             | 2037-01-14      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| KILROY REALTY LP                                                      | Kilroy Realty LP                                                                                                       | CUSIP: 49427RAQ5<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              |  | US        |    115000 | PA      | $95551.00     | 0.02%             | 2032-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 31418DLT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     95898 | PA      | $85251.16     | 0.02%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                                | American Honda Finance Corp                                                                                            | CUSIP: 02665WEY3<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200380.23    | 0.05%             | 2026-01-09      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Liberty Media Corp-Liberty Formula One                                | Liberty Media Corp-Liberty Formula One                                                                                 | CUSIP: 531229755<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3755 | NS      | $392209.75    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QPAJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    639296 | PA      | $586115.39    | 0.15%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Copart Inc                                                            | Copart Inc                                                                                                             | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     16705 | NS      | $751223.85    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                                                                   | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     73000 | PA      | $76311.41     | 0.02%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Trust 2023-LIFE                                                                                                     | CUSIP: 05609DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    438000 | PA      | $433064.18    | 0.11%             | 2028-02-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                            | Intel Corp                                                                                                             | CUSIP: 458140CL2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116597.25    | 0.03%             | 2034-02-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| NIAGARA MOHAWK POWER                                                  | Niagara Mohawk Power Corp                                                                                              | CUSIP: 653522DT6<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55254.16     | 0.01%             | 2030-10-03      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                                          | ING Groep NV                                                                                                           | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $415690.78    | 0.11%             | 2028-05-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CHW4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $3050273.43   | 0.77%             | 2030-08-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                               | Royal Caribbean Cruises Ltd                                                                                            | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    198000 | PA      | $203045.36    | 0.05%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 31418DQH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    523070 | PA      | $445801.93    | 0.11%             | 2050-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CNJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    800000 | PA      | $804125.00    | 0.20%             | 2032-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corp                                                | Regions Financial Corp                                                                                                 | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |    113914 | NS      | $3003912.18   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                                                          | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    457000 | PA      | $455220.99    | 0.12%             | 2025-12-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                               | Dell International LLC / EMC Corp                                                                                      | CUSIP: 24703TAN6<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72265.53     | 0.02%             | 2032-04-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG SOCIETY                                               | Nationwide Building Society                                                                                            | CUSIP: 63859WAF6<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $246847.18    | 0.06%             | 2032-10-18      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                                         | AppLovin Corp                                                                                                          | CUSIP: 03831WAD0<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    145000 | PA      | $149675.70    | 0.04%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                                                 | Keysight Technologies Inc                                                                                              | CUSIP: 49338LAH6<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    103000 | PA      | $107061.34    | 0.03%             | 2030-07-30      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Hotwire Funding LLC                                                   | Hotwire Funding LLC                                                                                                    | CUSIP: 44148JAH2<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $254229.25    | 0.06%             | 2054-06-20      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| Church & Dwight Co Inc                                                | Church & Dwight Co Inc                                                                                                 | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |     12363 | NS      | $1083369.69   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                              | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                     | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              |  | US        |    220000 | PA      | $230644.64    | 0.06%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United Nations Development Corp                                       | UNITED NATIONS DEV CORP NY                                                                                             | CUSIP: 911157MF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $26706.80     | 0.01%             | 2055-08-01      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                                      | Duke Energy Corp                                                                                                       | CUSIP: 26441CCJ2<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     74000 | PA      | $73514.37     | 0.02%             | 2035-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QNF31<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    411980 | PA      | $366121.36    | 0.09%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                                                        | Merck & Co Inc                                                                                                         | CUSIP: 58933YBT1<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    104000 | PA      | $107321.21    | 0.03%             | 2055-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                                              | Piedmont Operating Partnership LP                                                                                      | CUSIP: 720198AG5<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |    182000 | PA      | $202091.84    | 0.05%             | 2028-07-20      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                                             | Apple Inc                                                                                                              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     45740 | NS      | $11646776.20  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                        | Palmer Square Loan Funding 2025-1 Ltd                                                                                  | CUSIP: 69704CAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $247894.75    | 0.06%             | 2033-02-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Danaher Corp                                                          | Danaher Corp                                                                                                           | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     10332 | NS      | $2048422.32   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                   | Bank of Nova Scotia/The                                                                                                | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    190000 | PA      | $203904.96    | 0.05%             | 2084-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                                  | Glencore Funding LLC                                                                                                   | CUSIP: 378272BZ0<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    180000 | PA      | $185451.91    | 0.05%             | 2030-04-01      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| DI Issuer LLC                                                         | DI Issuer LLC                                                                                                          | CUSIP: 23292FAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    598265 | PA      | $573602.75    | 0.15%             | 2051-09-15      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CGB1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $503203.13    | 0.13%             | 2029-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XHWY9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    792149 | PA      | $703977.39    | 0.18%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                              | Duke Energy Progress LLC                                                                                               | CUSIP: 26442UAR5<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48713.42     | 0.01%             | 2053-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                             | Amgen Inc                                                                                                              | CUSIP: 031162DT4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    185000 | PA      | $184526.81    | 0.05%             | 2053-03-02      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                              | Ford Motor Credit Co LLC                                                                                               | CUSIP: 345397G31<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204415.47    | 0.05%             | 2031-11-05      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179YU36<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1479242 | PA      | $1391359.50   | 0.35%             | 2054-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GCAT                                                                  | GCAT 2024-INV3 Trust                                                                                                   | CUSIP: 36830FAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    227559 | PA      | $228764.66    | 0.06%             | 2054-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140N25N7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    298774 | PA      | $299531.58    | 0.08%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                                 | Blue Owl Capital Corp                                                                                                  | CUSIP: 69121KAH7<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    105000 | PA      | $107029.50    | 0.03%             | 2029-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                             | Taiwan Semiconductor Manufacturing Co Ltd                                                                              | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      2929 | NS      | $818040.41    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MASS INSTITUTE OF TECH                                                | Massachusetts Institute of Technology                                                                                  | CUSIP: 575718AK7<br>LEI: DLZO3A31IADZ27B62557 | Long             | DBT              | CORP              | US        |     40000 | PA      | $42018.73     | 0.01%             | 2055-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                | Sequoia Mortgage Trust 2024-6                                                                                          | CUSIP: 81743DAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300085 | PA      | $302113.57    | 0.08%             | 2054-07-27      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133KMLL7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    530415 | PA      | $431297.84    | 0.11%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| AEP TRANSMISSION CO LLC                                               | AEP Transmission Co LLC                                                                                                | CUSIP: 00115AAS8<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |     32000 | PA      | $33108.05     | 0.01%             | 2035-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                               | HCA Inc                                                                                                                | CUSIP: 404119CZ0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    111000 | PA      | $114598.79    | 0.03%             | 2030-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AppLovin Corp                                                         | AppLovin Corp                                                                                                          | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      1918 | NS      | $1378159.72   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CKG5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4600000 | PA      | $4670078.15   | 1.18%             | 2029-03-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Automatic Data Processing Inc                                         | Automatic Data Processing Inc                                                                                          | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      6556 | NS      | $1924186.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                                           | Oracle Corp                                                                                                            | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    225000 | PA      | $226238.95    | 0.06%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Bank5                                                                 | BANK5 Trust 2024-5YR6                                                                                                  | CUSIP: 066043AB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    281000 | PA      | $296544.58    | 0.08%             | 2057-05-15      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| GILDAN ACTIVEWEAR INC                                                 | Gildan Activewear Inc                                                                                                  | CUSIP: 375916AG8<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |     55000 | PA      | $55007.64     | 0.01%             | 2035-10-07      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| iShares Core S&P 500 ETF                                              | iShares Core S&P 500 ETF                                                                                               | CUSIP: 464287200<br>LEI: 5493007M4YMN8XL48C14 | Long             | EC               | RF                | US        |       366 | NS      | $244963.80    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XF4G3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    921000 | PA      | $752070.03    | 0.19%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                                              | Eagle Funding Luxco Sarl                                                                                               | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    366000 | PA      | $371328.96    | 0.09%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                   | Bank of Nova Scotia/The                                                                                                | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    240000 | PA      | $255026.88    | 0.06%             | 2082-10-27      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133KQE28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    153354 | PA      | $155801.16    | 0.04%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MIDAMERICAN ENERGY CO                                                 | MidAmerican Energy Co                                                                                                  | CUSIP: 595620AZ8<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |     90000 | PA      | $87565.85     | 0.02%             | 2055-02-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179XFH4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1151157 | PA      | $1124723.99   | 0.28%             | 2052-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Deckers Outdoor Corp                                                  | Deckers Outdoor Corp                                                                                                   | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |      7556 | NS      | $765951.72    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                                                                    | CUSIP: 91282CNX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1600000 | PA      | $1591750.00   | 0.40%             | 2030-08-31      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                                          | Enbridge Inc                                                                                                           | CUSIP: 29250NAN5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    360000 | PA      | $361008.72    | 0.09%             | 2077-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                                | Sempra                                                                                                                 | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    303000 | PA      | $294810.76    | 0.07%             | 2052-04-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | PA      | $556921.87    | 0.14%             | 2044-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust 2024-9                                                                               | CUSIP: 16160QAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    360480 | PA      | $362138.10    | 0.09%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CNA FINANCIAL CORP                                                    | CNA Financial Corp                                                                                                     | CUSIP: 126117AZ3<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |    209000 | PA      | $209399.67    | 0.05%             | 2035-08-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust 2024-9                                                                               | CUSIP: 16160QAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    137775 | PA      | $137991.00    | 0.03%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XJQY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    174149 | PA      | $154711.52    | 0.04%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                    | Energy Transfer LP                                                                                                     | CUSIP: 29273RBJ7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140948.74    | 0.04%             | 2045-12-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                   | Bank of Nova Scotia/The                                                                                                | CUSIP: 06419GEE2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $199403.82    | 0.05%             | 2085-10-27      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Booking Holdings Inc                                                  | Booking Holdings Inc                                                                                                   | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       261 | NS      | $1409209.47   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ENI SPA                                                               | Eni SpA                                                                                                                | CUSIP: 26874RAP3<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $199934.13    | 0.05%             | 2054-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                                   | Charles Schwab Corp/The                                                                                                | CUSIP: 808513CB9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298594.50    | 0.08%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                                                   | Cheniere Energy Inc                                                                                                    | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |    160000 | PA      | $159499.78    | 0.04%             | 2028-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DM5Y7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    446782 | PA      | $394004.14    | 0.10%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                                                        | Merck & Co Inc                                                                                                         | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     11826 | NS      | $992556.18    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MERITAGE HOMES CORP                                                   | Meritage Homes Corp                                                                                                    | CUSIP: 59001ABG6<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    102000 | PA      | $103567.68    | 0.03%             | 2035-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Equinix Inc                                                           | Equinix Inc                                                                                                            | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |      2740 | NS      | $2146077.60   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWMONT / NEWCREST FIN                                                | Newmont Corp / Newcrest Finance Pty Ltd                                                                                | CUSIP: 65163LAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    156000 | PA      | $162713.69    | 0.04%             | 2034-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| PEPPERDINE UNIV                                                       | Pepperdine University                                                                                                  | CUSIP: 71338QAC0<br>LEI: 549300G0RVHY0VSFWD76 | Long             | DBT              | CORP              | US        |    105000 | PA      | $65519.51     | 0.02%             | 2059-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Colgate-Palmolive Co                                                  | Colgate-Palmolive Co                                                                                                   | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      9701 | NS      | $775497.94    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital Automotive Reit                                               | Capital Automotive REIT                                                                                                | CUSIP: 12510HAV2<br>LEI: N/A                  | Long             | ABS-O            |  | US        |    307667 | PA      | $305982.84    | 0.08%             | 2054-05-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| S&P Global Inc                                                        | S&P Global Inc                                                                                                         | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      4912 | NS      | $2390719.52   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ING GROEP NV                                                          | ING Groep NV                                                                                                           | CUSIP: 456837AR4<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    295000 | PA      | $295477.90    | 0.07%             | 2026-11-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                                   | GS Mortgage-Backed Securities Trust 2025-PJ7                                                                           | CUSIP: 36272MAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    529634 | PA      | $532777.65    | 0.13%             | 2055-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                | Sequoia Mortgage Trust 2025-8                                                                                          | CUSIP: 81749WAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    434575 | PA      | $437951.17    | 0.11%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                                                        | Eli Lilly & Co                                                                                                         | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      3585 | NS      | $2735355.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                | Pacific Gas and Electric Co                                                                                            | CUSIP: 694308JU2<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     55000 | PA      | $45037.76     | 0.01%             | 2041-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DMJA4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    530173 | PA      | $465987.28    | 0.12%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                                   | JPMorgan Chase & Co                                                                                                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     12186 | NS      | $3843829.98   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                                        | Amazon.com Inc                                                                                                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     39187 | NS      | $8604289.59   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| UMBS, TBA                                                             | Uniform Mortgage-Backed Security, TBA                                                                                  | CUSIP: 01F0506A9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3051000 | PA      | $3025546.00   | 0.77%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140XDS98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    573834 | PA      | $489835.13    | 0.12%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                        | Morgan Stanley                                                                                                         | CUSIP: 61747YFV2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60649.76     | 0.02%             | 2055-11-19      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                                              | Liberty Mutual Group Inc                                                                                               | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    180000 | PA      | $176794.77    | 0.04%             | 2051-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                                                | Motorola Solutions Inc                                                                                                 | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      4602 | NS      | $2104448.58   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Funding Mortgage Trust                                      | Provident Funding Mortgage Trust 2025-3                                                                                | CUSIP: 74388PAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    542334 | PA      | $545907.45    | 0.14%             | 2055-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                                    | EFMT 2025-CES2                                                                                                         | CUSIP: 28225GAA2<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |    347700 | PA      | $351302.45    | 0.09%             | 2060-02-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                              | Duke Energy Progress LLC                                                                                               | CUSIP: 26442UAV6<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85340.06     | 0.02%             | 2055-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| IDEXX Laboratories Inc                                                | IDEXX Laboratories Inc                                                                                                 | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      2227 | NS      | $1422808.03   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                                   | GS Mortgage-Backed Securities Trust 2023-PJ6                                                                           | CUSIP: 36268FAZ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    180410 | PA      | $182212.54    | 0.05%             | 2054-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| KILROY REALTY LP                                                      | Kilroy Realty LP                                                                                                       | CUSIP: 49427RAR3<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              |  | US        |    112000 | PA      | $91671.58     | 0.02%             | 2033-11-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                                                                    | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1400000 | PA      | $1414875.00   | 0.36%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co                                               | Bristol-Myers Squibb Co                                                                                                | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     13166 | NS      | $593786.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3132DNFZ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    418157 | PA      | $385838.14    | 0.10%             | 2051-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc                                                    | Ally Financial Inc                                                                                                     | CUSIP: 36186CBY8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    266000 | PA      | $303231.92    | 0.08%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| American Express Co                                                   | American Express Co                                                                                                    | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      6863 | NS      | $2279614.08   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| MFRA Trust                                                            | MFA 2024-NQM1 Trust                                                                                                    | CUSIP: 55286VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    214011 | PA      | $217535.39    | 0.06%             | 2069-03-25      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                                                       | CUSIP: 3133KPMJ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1094277 | PA      | $1042049.91   | 0.26%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QUBQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1197306 | PA      | $1210203.92   | 0.31%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| The Montreal Exchange / Bourse De Montreal                            | CAN 10YR BOND FUT DEC25                                                                                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | CA        |        11 | NC      | $21392.18     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CARLISLE COS INC                                                      | Carlisle Cos Inc                                                                                                       | CUSIP: 142339AM2<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86041.89     | 0.02%             | 2040-09-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                                                        | CUSIP: 3140QREQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    873065 | PA      | $886135.47    | 0.22%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                                              | Piedmont Operating Partnership LP                                                                                      | CUSIP: 720198AJ9<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |     33000 | PA      | $34918.84     | 0.01%             | 2029-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                     | NatWest Group PLC                                                                                                      | CUSIP: 639057AB4<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $182923.46    | 0.05%             | 2035-11-28      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust                                      | Provident Funding Mortgage Trust 2024-1                                                                                | CUSIP: 74389BAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    515129 | PA      | $518229.22    | 0.13%             | 2054-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sofi Mortgage Trust                                                   | Sofi Mortgage Trust 2016-1                                                                                             | CUSIP: 78471KAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5132 | PA      | $4617.26      | 0.00%             | 2046-11-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                                                        | Eaton Corp PLC                                                                                                         | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |      5220 | NS      | $1953585.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                                                   | Gilead Sciences Inc                                                                                                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     15838 | NS      | $1758018.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS GROUP AG                                                          | UBS Group AG                                                                                                           | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    205000 | PA      | $225810.37    | 0.06%             | 2028-11-13      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179XFG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1229016 | PA      | $1164386.76   | 0.29%             | 2052-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                                                                     | CUSIP: 36179VVX5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1425740 | PA      | $1179172.69   | 0.30%             | 2050-10-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                                 | Toronto-Dominion Bank/The                                                                                              | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    401000 | PA      | $423829.23    | 0.11%             | 2082-10-31      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

**Signature:** James Hoffmayer

**Name of Signer:** James Hoffmayer

**Title:** VP