# EDGAR Filing Document

**Accession Number:** 0000106444
**File Stem:** 0000106444-25-000114
**Filing Date:** 2025-9
**Character Count:** 58528
**Document Hash:** 2d29c3dbfc3aff69479ef123fcae4718
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000106444-25-000114.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0000106444-25-000114

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD FIXED INCOME SECURITIES FUNDS
- **CENTRAL INDEX KEY:** 0000106444

**ORGANIZATION NAME:**
- **EIN:** 231899003
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02368
- **FILM NUMBER:** 251343486

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD FIXED INCOME SECURITIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WESTMINSTER BOND FUND INC
- **DATE OF NAME CHANGE:** 19800619

## Series and Classes Contracts Data

### Vanguard Real Estate II Index Fund (Series ID: S000059086)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000193720 | Institutional Plus Shares | VRTPX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** VANGUARD FIXED INCOME SECURITIES FUNDS

- **b. Investment Company Act file number:** 811-02368

- **c. CIK number of Registrant:** 0000106444

- **d. LEI of Registrant:** 549300F3N7VQKU6I4K64

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

  - **Street Address 1:** 100 Vanguard Boulevard

  - **City:** Malvern

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19355

  - **Telephone number:** 610-669-1000

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

- **a. Name of Series:** VANGUARD REAL ESTATE II INDEX FUND

- **b. EDGAR series identifier (if any):** S000059086

- **c. LEI of Series:** 549300ZF3K8JV2GHZ643

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $9493148293.27

**Total Liabilities:** $338889.83

**Net Assets:** $9492809403.44

**Cash Not Reported:** $3464163.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000193720 | 1.08%                | 0.64%                | 0.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $978866.72               | $83447694.30                               |
| Month 2  | $-41133544.29            | $38511029.46                               |
| Month 3  | $749951.89               | $1984624.98                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Digital Realty Trust Inc                          | DIGITAL REALTY                              | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |   2179285 | NS      | $384513045.40 | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc                                | OUTFRONT MEDIA I                            | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               | CORP              | US        |    920978 | NS      | $16144744.34  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                       | EQUINIX INC                                 | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |    633029 | NS      | $497035379.93 | 5.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                             | CAMDEN PROP TR                              | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |    690858 | NS      | $75441693.60  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Diversified Real Estate Trust            | NEXPOINT DIVERSI                            | CUSIP: 65340G205<br>LEI: 5493008KGR2NU3OXMR64 | Long             | EC               | CORP              | US        |    229324 | NS      | $1006732.36   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Realty Income Trust              | UNIVERSAL HEALTH                            | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               | CORP              | US        |     84670 | NS      | $3284349.30   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| New Issuer: BB Company ID:71694130                | LANDBRIDGE CO LL                            | CUSIP: 514952100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    112791 | NS      | $6392993.88   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Alexandria Real Estate Equities Inc               | ALEXANDRIA REAL                             | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |   1008135 | NS      | $77051758.05  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc                   | FOUR CORNERS PRO                            | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |    646523 | NS      | $16318240.52  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SITE Centers Corp                                 | SITE CENTERS COR                            | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               | CORP              | US        |    304576 | NS      | $3280283.52   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RMR Group Inc/The                                 | RMR GROUP-A                                 | CUSIP: 74967R106<br>LEI: 549300JP4L34E48UJM16 | Long             | EC               | CORP              | US        |    103334 | NS      | $1659544.04   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                           | EXTRA SPACE STOR                            | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1373506 | NS      | $184544266.16 | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                                       | CENTERSPACE                                 | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               | CORP              | US        |    107984 | NS      | $5877569.12   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Plymouth Industrial REIT Inc                      | PLYMOUTH INDUSTR                            | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    268853 | NS      | $3903745.56   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CBL & Associates Properties Inc                   | CBL & ASSOC PROP                            | CUSIP: 124830878<br>LEI: 529900EIVFBRS4PUBZ13 | Long             | EC               | CORP              | US        |    100069 | NS      | $2707867.14   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| One Liberty Properties Inc                        | ONE LIBERTY PROP                            | CUSIP: 682406103<br>LEI: 549300QII1CQZGZBZR14 | Long             | EC               | CORP              | US        |    111637 | NS      | $2498436.06   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                              | LXP INDUSTRIAL T                            | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |   1920869 | NS      | $14905943.44  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                        | BRIXMOR PROPERTY                            | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |   1979924 | NS      | $51735414.12  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BRT Apartments Corp                               | BRT APARTMENTS C                            | CUSIP: 055645303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73017 | NS      | $1062397.35   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                          | BROADSTONE NET                              | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |   1224639 | NS      | $19888137.36  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust Inc                             | SILA REALTY TRUS                            | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               | CORP              | US        |    358138 | NS      | $8752892.72   | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| LTC Properties Inc                                | LTC PROPERTIES                              | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               | CORP              | US        |    296742 | NS      | $10101097.68  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Curbline Properties Corp                          | CURBLINE PROPERT                            | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               | CORP              | US        |    612989 | NS      | $13547056.90  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust                 | NATIONAL STORAGE                            | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |    469921 | NS      | $13843872.66  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                               | TERRENO REALTY C                            | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    666256 | NS      | $36970545.44  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                     | WELLTOWER INC                               | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |   4196381 | NS      | $692696611.67 | 7.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                            | COUSINS PROP                                | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |   1086132 | NS      | $29434177.20  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Opendoor Technologies Inc                         | OPENDOOR TECHNOL                            | CUSIP: 683712103<br>LEI: 254900KX11YZ4HV5BQ47 | Long             | EC               | CORP              | US        |   3980699 | NS      | $7324486.16   | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Kimco Realty Corp                                 | KIMCO REALTY                                | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |   4396541 | NS      | $93338565.43  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                           | KITE REALTY GROU                            | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1421646 | NS      | $31247779.08  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc                  | RYMAN HOSPITALIT                            | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |    368689 | NS      | $35047576.34  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties Inc                           | MILLROSE PROPERT                            | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    798078 | NS      | $23934359.22  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Realty Trust                               | ACADIA REALTY                               | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               | CORP              | US        |    775691 | NS      | $14520935.52  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc                            | JONES LANG LASAL                            | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |    307542 | NS      | $83147055.12  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties Inc                | EASTERLY GOVERNM                            | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               | CORP              | US        |    267133 | NS      | $5876926.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                               | SUN COMMUNITIES                             | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |    750554 | NS      | $93091212.62  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                                    | CBRE GROUP INC-A                            | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |   1940566 | NS      | $302223748.84 | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc                    | COMMUNITY HEALTH                            | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |    184840 | NS      | $2840990.80   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                                      | NNN REIT INC                                | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |   1216446 | NS      | $50190561.96  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Veris Residential Inc                             | VERIS RESIDENTIA                            | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               | CORP              | US        |    541156 | NS      | $7619476.48   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                         | CUBESMART                                   | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1480973 | NS      | $57624659.43  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Commercial Corp                         | GLADSTONE COMMER                            | CUSIP: 376536108<br>LEI: 529900EVVV534W8R0T32 | Long             | EC               | CORP              | US        |    296834 | NS      | $3903367.10   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Marcus & Millichap Inc                            | MARCUS & MILLICH                            | CUSIP: 566324109<br>LEI: 549300B2HE8ULXNB1N48 | Long             | EC               | CORP              | US        |    164817 | NS      | $5135697.72   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc                 | FIRST IND REALTY                            | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    856295 | NS      | $41718692.40  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                        | VENTAS INC                                  | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |   2832726 | NS      | $190302532.68 | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Medical REIT Inc                           | GLOBAL MEDICAL R                            | CUSIP: 37954A204<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               | CORP              | US        |    418351 | NS      | $2794584.68   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                                     | ST JOE CO                                   | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |    244798 | NS      | $12362299.00  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywine Realty Trust                           | BRANDYWINE RLTY                             | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               | CORP              | US        |   1136369 | NS      | $4545476.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease Inc                              | GLOBAL NET LEASE                            | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |   1252383 | NS      | $8754157.17   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc                          | PHILLIPS EDISON                             | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |    811027 | NS      | $27404602.33  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties Inc                       | SUMMIT HOTEL PRO                            | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               | CORP              | US        |    728838 | NS      | $3804534.36   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                               | VICI PROPERTIES                             | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |   6839033 | NS      | $222952475.80 | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniti Group Inc                                   | UNITI GROUP INC                             | CUSIP: 91325V108<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               | CORP              | US        |   1578830 | NS      | $8399375.60   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Farmland Partners Inc                             | FARMLAND PARTNER                            | CUSIP: 31154R109<br>LEI: 549300LB188CHPZ4IL37 | Long             | EC               | CORP              | US        |    282032 | NS      | $2952875.04   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                    | PUBLIC STORAGE                              | CUSIP: 74460D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1021735 | NS      | $277850615.90 | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                      | MEDICAL PROPERTI                            | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |   3298509 | NS      | $13589857.08  | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Forestar Group Inc                                | FORESTAR GROUP                              | CUSIP: 346232101<br>LEI: 549300BC2UB0GHV60V70 | Long             | EC               | CORP              | US        |    130958 | NS      | $3247758.40   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                             | URBAN EDGE P                                | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    812478 | NS      | $16022066.16  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Receive MID-AMERICA APAR Pay Overnight Rate | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |     60000 | NC      | $-275998.18   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Alexander's Inc                                   | ALEXANDER'S INC                             | CUSIP: 014752109<br>LEI: 549300TZM28P04U5R635 | Long             | EC               | CORP              | US        |     14957 | NS      | $3757048.83   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Receive MID-AMERICA APAR Pay Overnight Rate | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |     82000 | NC      | $-377197.51   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Peakstone Realty Trust                            | PEAKSTONE REALTY                            | CUSIP: 39818P799<br>LEI: 549300EZQXWQI2YL1T80 | Long             | EC               | CORP              | US        |    239914 | NS      | $3262830.40   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cushman & Wakefield PLC                           | CUSHMAN & WAKEFI                            | CUSIP: G2717B108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1494638 | NS      | $18219637.22  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc                     | NATL HEALTH INV                             | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |    302039 | NS      | $21100444.54  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                        | Americold Realty Trust Inc                  | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |   1749154 | NS      | $28126396.32  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                         | HEALTHPEAK PROPE                            | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |   4519678 | NS      | $76563345.32  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                          | HIGHWOODS PROP                              | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |    697341 | NS      | $20229862.41  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                           | PEBBLEBROOK HOTE                            | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               | CORP              | US        |    766062 | NS      | $7683601.86   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                                   | WEYERHAEUSER CO                             | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |   4697700 | NS      | $117677385.00 | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers Inc                                  | SAUL CENTERS INC                            | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85257 | NS      | $2746980.54   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts Inc                        | XENIA HOTELS & R                            | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               | CORP              | US        |    655988 | NS      | $8337607.48   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc                     | INDEPENDENCE REA                            | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |   1495108 | NS      | $25072961.16  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                                | KILROY REALTY                               | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |    726299 | NS      | $26771381.14  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NET Lease Office Properties                       | NET LEASE OFFICE                            | CUSIP: 64110Y108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90882 | NS      | $3016373.58   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chatham Lodging Trust                             | CHATHAM LODGING                             | CUSIP: 16208T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    303144 | NS      | $2067442.08   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Properties Trust                          | SERVICE PROPERTI                            | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Long             | EC               | CORP              | US        |   1023869 | NS      | $2692775.47   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                | EQUITY RESIDENTI                            | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |   2211890 | NS      | $139791448.00 | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                              | SL GREEN REALTY                             | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |    459083 | NS      | $26282501.75  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc                                | CARETRUST REI                               | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |   1214048 | NS      | $38606726.40  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp                                 | GETTY REALTY                                | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |    337722 | NS      | $9385294.38   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                       | HEALTHCARE REALT                            | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |   2158322 | NS      | $33151825.92  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc                     | HUDSON PACIFIC P                            | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2194890 | NS      | $5377480.50   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp                               | POTLATCHDELTIC C                            | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |    483626 | NS      | $19775467.14  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin Inc                           | ALEXANDER & BALD                            | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    469132 | NS      | $8434993.36   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc                      | AMERICAN HEALTHC                            | CUSIP: 398182303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1027192 | NS      | $39690698.88  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Residential Trust Inc                    | NEXPOINT RESI                               | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               | CORP              | US        |    149420 | NS      | $4658915.60   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold Inc                                      | SAFEHOLD INC                                | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               | CORP              | US        |    300529 | NS      | $4204400.71   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund              | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |    308031 | NS      | $30799982.89  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc                               | STAG INDUSTRIAL                             | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |   1208428 | NS      | $41485333.24  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Receive PARK H&R INC Pay Overnight Rate     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |    400000 | NC      | $-127915.75   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EPR Properties                                    | EPR PROPERTIES                              | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |    491933 | NS      | $27075992.32  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                                   | MACERICH CO                                 | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |   1632650 | NS      | $27281581.50  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                        | SABRA HEALTH CAR                            | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |   1538687 | NS      | $27742526.61  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                                      | WP CAREY INC                                | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |   1417435 | NS      | $90942629.60  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                           | BXP INC                                     | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |    972922 | NS      | $63658286.46  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Investment and Management Co            | APARTMENT INVEST                            | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               | CORP              | US        |    870933 | NS      | $7324546.53   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                                  | CROWN CASTLE INC                            | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |   2817715 | NS      | $296113669.35 | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc                      | SUNSTONE HOTEL                              | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |   1236734 | NS      | $10821422.50  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust Inc                         | PIEDMONT REALTY                             | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    806943 | NS      | $6100489.08   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                              | VORNADO RLTY TST                            | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1055363 | NS      | $40547046.46  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                                 | RLJ LODGING TRUS                            | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    977273 | NS      | $7231820.20   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Properties Inc              | INNOVATIVE INDUS                            | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |    183134 | NS      | $9468027.80   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                                | DOUGLAS EMMETT                              | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1082513 | NS      | $16410897.08  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Elme Communities                                  | ELME COMMUNITIES                            | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               | CORP              | US        |    568407 | NS      | $8571577.56   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                           | COPT DEFENSE PRO                            | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |    730041 | NS      | $19915518.48  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                              | JBG SMITH PROPER                            | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    531213 | NS      | $11251091.34  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities Inc             | MID-AMERICA APAR                            | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |    614704 | NS      | $87552290.72  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit MTA REIT                                   | SPIRIT MTA REIT RTS                         | CUSIP: N/A<br>LEI: 5493001XMVHW4G48PP41       | Long             | EC               | CORP              | US        |    257871 | NS      | $23208.39     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| UMH Properties Inc                                | UMH PROPERTIES I                            | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |    506016 | NS      | $8237940.48   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                        | APPLE HOSPITALIT                            | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |   1466232 | NS      | $17228226.00  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Seritage Growth Properties                        | SERITAGE GROWT-A                            | CUSIP: 81752R100<br>LEI: 5493003CJFC2MM82WB25 | Long             | EC               | CORP              | US        |    219464 | NS      | $700090.16    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust                   | FED REALTY INVS                             | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |    527666 | NS      | $48629698.56  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings Inc                        | HOWARD HUGHES HO                            | CUSIP: 44267T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    211377 | NS      | $14527941.21  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                       | LINEAGE INC                                 | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    442875 | NS      | $19110056.25  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Armada Hoffler Properties Inc                     | ARMADA HOFFLER P                            | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               | CORP              | US        |    522387 | NS      | $3567903.21   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc                         | PARK H&R INC                                | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |    903098 | NS      | $9627024.68   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Land Corp                               | GLADSTONE LAND C                            | CUSIP: 376549101<br>LEI: 54930002B3Q17H38FG74 | Long             | EC               | CORP              | US        |    224926 | NS      | $2069319.20   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                                    | NETSTREIT CORP                              | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |    527843 | NS      | $9622577.89   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                             | AMERICAN HOMES-A                            | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |   2151851 | NS      | $74647711.19  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                                | REALTY INCOME                               | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |   5771182 | NS      | $323936445.66 | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                                  | COSTAR GROUP INC                            | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2729401 | NS      | $259811681.19 | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc                 | GAMING AND LEISU                            | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |   1778301 | NS      | $81054959.58  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                                      | RAYONIER INC                                | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |    958436 | NS      | $22341143.16  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| eXp World Holdings Inc                            | EXP WORLD HOLDIN                            | CUSIP: 30212W100<br>LEI: 549300TWVVZC283VEC32 | Long             | EC               | CORP              | US        |    490152 | NS      | $5283838.56   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                                 | IRON MOUNTAIN                               | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |   1900995 | NS      | $185080873.20 | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmark Group Inc                                 | NEWMARK GROUP-A                             | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    927060 | NS      | $14063500.20  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc                         | AMERICAN ASSETS                             | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    318094 | NS      | $6053328.82   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                   | EQUITY LIFESTYLE                            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |   1174899 | NS      | $70399948.08  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc             | ESSENTIAL PROPER                            | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |   1267845 | NS      | $38656594.05  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                         | HOST HOTELS & RE                            | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |   4484573 | NS      | $70497487.56  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                           | UDR INC                                     | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |   2035881 | NS      | $79989764.49  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                                 | AGREE REALTY                                | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    694788 | NS      | $49816299.60  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                          | ESSEX PROPERTY                              | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |    416378 | NS      | $108333228.04 | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc                                  | ZILLOW GROUP I-A                            | CUSIP: 98954M101<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |    360374 | NS      | $27658704.50  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                          | EASTGROUP PROP                              | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |    338163 | NS      | $55201728.12  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc                                  | ZILLOW GRO-C                                | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |   1051959 | NS      | $83683338.45  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc                    | OMEGA HEALTHCARE                            | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |   1823251 | NS      | $70924463.90  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust                      | DIVERSIFIED HEAL                            | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1090016 | NS      | $3564352.32   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc                     | EMPIRE STATE REA                            | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               | CORP              | US        |    914492 | NS      | $6620922.08   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                                   | WHITESTONE REI                              | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    279136 | NS      | $3402667.84   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                          | SIMON PROPERTY                              | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |   2111329 | NS      | $345814576.91 | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Tejon Ranch Co                                    | TEJON RANCH CO                              | CUSIP: 879080109<br>LEI: 549300TMNDO77VJ6J111 | Long             | EC               | CORP              | US        |    130198 | NS      | $2338356.08   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                           | SBA COMM CORP                               | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |    699174 | NS      | $157118381.28 | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Inc                                       | COMPASS INC - A                             | CUSIP: 20464U100<br>LEI: 254900DMGQSTC3I2IM78 | Long             | EC               | CORP              | US        |   2961723 | NS      | $23516080.62  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                               | AMERICAN TOWER C                            | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |   3029316 | NS      | $631279161.24 | 6.65%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co                        | DIAMONDROCK HOSP                            | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |   1350694 | NS      | $10427357.68  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                     | REXFORD INDUSTRI                            | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |   1527595 | NS      | $55803045.35  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                              | INVITATION HOMES                            | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3768509 | NS      | $115504800.85 | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund              | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |    200189 | NS      | $20016934.11  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                              | REGENCY CENTERS                             | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |   1116566 | NS      | $79722812.40  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth Inc                             | CTO REALTY GROWT                            | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    202590 | NS      | $3344760.90   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp                        | INVENTRUST PROPE                            | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |    500452 | NS      | $13797461.64  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Group Inc                               | PARAMOUNT GROUP                             | CUSIP: 69924R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1205439 | NS      | $7377286.68   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Kennedy-Wilson Holdings Inc                       | KENNEDY-WILSON H                            | CUSIP: 489398107<br>LEI: 549300MOI1T78144X610 | Long             | EC               | CORP              | US        |    716958 | NS      | $5248132.56   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc                                        | TANGER INC                                  | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |    732227 | NS      | $21981454.54  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                      | PROLOGIS INC                                | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |   5998903 | NS      | $640562862.34 | 6.75%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                         | AVALONBAY COMMUN                            | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |    921516 | NS      | $171660000.48 | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Anywhere Real Estate Inc                          | ANYWHERE REAL ES                            | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Long             | EC               | CORP              | US        |    614749 | NS      | $2840140.38   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                              | LAMAR ADVERTIS-A                            | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |    569994 | NS      | $69681766.50  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Receive SUN COMMUNITIES Pay Overnight Rate  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |     75000 | NC      | $-140789.06   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-25

**Name of Applicant:** VANGUARD FIXED INCOME SECURITIES FUNDS

**Signature:** Ashley Grim

**Name of Signer:** Ashley Grim

**Title:** Treasurer