# EDGAR Filing Document

**Accession Number:** 0000857490
**File Stem:** 0000857490-25-000197
**Filing Date:** 2025-8
**Character Count:** 56885
**Document Hash:** c63876b8ecc684c738967b37b95a4f7f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000857490-25-000197.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0000857490-25-000197

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD VARIABLE INSURANCE FUNDS
- **CENTRAL INDEX KEY:** 0000857490

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05962
- **FILM NUMBER:** 251264997

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

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

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

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

## Series and Classes Contracts Data

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

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

## 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 VARIABLE INSURANCE FUNDS

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

- **c. CIK number of Registrant:** 0000857490

- **d. LEI of Registrant:** 549300N9FZ0B1IR95761

- **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:** REAL ESTATE INDEX PORTFOLIO

- **b. EDGAR series identifier (if any):** S000004392

- **c. LEI of Series:** NSYZG9R2JB2XHYUW8881

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $1090908043.01

**Total Liabilities:** $116399.81

**Net Assets:** $1090791643.20

**Cash Not Reported:** $431736.18

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012148 | -2.34%               | 1.07%                | 0.62%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $7906984.02              | $-24869461.99                              |
| Month 2  | $1433275.76              | $8356188.94                                |
| Month 3  | $-4563756.29             | $3979735.33                                |

### 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        |    250256 | NS      | $43627128.48  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc                                | OUTFRONT MEDIA I                        | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               | CORP              | US        |    105316 | NS      | $1718757.12   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                       | EQUINIX INC                             | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     72690 | NS      | $57822714.30  | 5.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                             | CAMDEN PROP TR                          | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     79355 | NS      | $8942514.95   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Diversified Real Estate Trust            | NEXPOINT DIVERSI                        | CUSIP: 65340G205<br>LEI: 5493008KGR2NU3OXMR64 | Long             | EC               | CORP              | US        |     25725 | NS      | $107787.75    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Realty Income Trust              | UNIVERSAL HEALTH                        | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               | CORP              | US        |      9868 | NS      | $394423.96    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| New Issuer: BB Company ID:71694130                | LANDBRIDGE CO LL                        | CUSIP: 514952100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12940 | NS      | $874485.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc               | ALEXANDRIA REAL                         | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |    115834 | NS      | $8413023.42   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc                   | FOUR CORNERS PRO                        | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |     74153 | NS      | $1995457.23   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SITE Centers Corp                                 | SITE CENTERS COR                        | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               | CORP              | US        |     35779 | NS      | $404660.49    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RMR Group Inc/The                                 | RMR GROUP-A                             | CUSIP: 74967R106<br>LEI: 549300JP4L34E48UJM16 | Long             | EC               | CORP              | US        |     11904 | NS      | $194630.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                           | EXTRA SPACE STOR                        | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    157733 | NS      | $23256153.52  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                                       | CENTERSPACE                             | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               | CORP              | US        |     12445 | NS      | $749064.55    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Plymouth Industrial REIT Inc                      | PLYMOUTH INDUSTR                        | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30537 | NS      | $490424.22    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CBL & Associates Properties Inc                   | CBL & ASSOC PROP                        | CUSIP: 124830878<br>LEI: 529900EIVFBRS4PUBZ13 | Long             | EC               | CORP              | US        |     11472 | NS      | $291274.08    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| One Liberty Properties Inc                        | ONE LIBERTY PROP                        | CUSIP: 682406103<br>LEI: 549300QII1CQZGZBZR14 | Long             | EC               | CORP              | US        |     12630 | NS      | $301351.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                              | LXP INDUSTRIAL T                        | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |    219384 | NS      | $1812111.84   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                        | BRIXMOR PROPERTY                        | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    227207 | NS      | $5916470.28   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BRT Apartments Corp                               | BRT APARTMENTS C                        | CUSIP: 055645303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8494 | NS      | $132846.16    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                          | BROADSTONE NET                          | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |    140230 | NS      | $2250691.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust Inc                             | SILA REALTY TRUS                        | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               | CORP              | US        |     41021 | NS      | $970967.07    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties Inc                                | LTC PROPERTIES                          | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               | CORP              | US        |     33962 | NS      | $1175424.82   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Curbline Properties Corp                          | CURBLINE PROPERT                        | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               | CORP              | US        |     70725 | NS      | $1614651.75   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust                 | NATIONAL STORAGE                        | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |     53754 | NS      | $1719590.46   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                               | TERRENO REALTY C                        | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76683 | NS      | $4299615.81   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                     | WELLTOWER INC                           | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |    481835 | NS      | $74072494.55  | 6.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                            | COUSINS PROP                            | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |    125063 | NS      | $3755641.89   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Opendoor Technologies Inc                         | OPENDOOR TECHNOL                        | CUSIP: 683712103<br>LEI: 254900KX11YZ4HV5BQ47 | Long             | EC               | CORP              | US        |    456715 | NS      | $243429.10    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Kimco Realty Corp                                 | KIMCO REALTY                            | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    505179 | NS      | $10618862.58  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                           | KITE REALTY GROU                        | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    163049 | NS      | $3693059.85   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc                  | RYMAN HOSPITALIT                        | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     42433 | NS      | $4186864.11   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties Inc                           | MILLROSE PROPERT                        | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     91496 | NS      | $2608550.96   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Realty Trust                               | ACADIA REALTY                           | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               | CORP              | US        |     88858 | NS      | $1650093.06   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc                            | JONES LANG LASAL                        | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     35316 | NS      | $9033126.48   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties Inc                | EASTERLY GOVERNM                        | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               | CORP              | US        |     30357 | NS      | $673925.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                               | SUN COMMUNITIES                         | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     94826 | NS      | $11994540.74  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                                    | CBRE GROUP INC-A                        | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |    222827 | NS      | $31222519.24  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc                    | COMMUNITY HEALTH                        | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |     21273 | NS      | $353769.99    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                                      | NNN REIT INC                            | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |    139583 | NS      | $6027193.94   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Veris Residential Inc                             | VERIS RESIDENTIA                        | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               | CORP              | US        |     61988 | NS      | $923001.32    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                         | CUBESMART                               | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    170242 | NS      | $7235285.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Commercial Corp                         | GLADSTONE COMMER                        | CUSIP: 376536108<br>LEI: 529900EVVV534W8R0T32 | Long             | EC               | CORP              | US        |     33948 | NS      | $486474.84    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Marcus & Millichap Inc                            | MARCUS & MILLICH                        | CUSIP: 566324109<br>LEI: 549300B2HE8ULXNB1N48 | Long             | EC               | CORP              | US        |     18892 | NS      | $580173.32    | 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        |     98306 | NS      | $4731467.78   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                        | VENTAS INC                              | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |    325253 | NS      | $20539726.95  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Medical REIT Inc                           | GLOBAL MEDICAL R                        | CUSIP: 37954A204<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               | CORP              | US        |     47479 | NS      | $329029.47    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                                     | ST JOE CO                               | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     28089 | NS      | $1339845.30   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywine Realty Trust                           | BRANDYWINE RLTY                         | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               | CORP              | US        |    127257 | NS      | $545932.53    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease Inc                              | GLOBAL NET LEASE                        | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |    144257 | NS      | $1089140.35   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc                          | PHILLIPS EDISON                         | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |     92998 | NS      | $3257719.94   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties Inc                       | SUMMIT HOTEL PRO                        | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               | CORP              | US        |     83444 | NS      | $424729.96    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Receive PROLOGIS INC Pay Overnight Rate | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |     45000 | NC      | $-127634.16   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| VICI Properties Inc                               | VICI PROPERTIES                         | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    785263 | NS      | $25599573.80  | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniti Group Inc                                   | UNITI GROUP INC                         | CUSIP: 91325V108<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               | CORP              | US        |    182104 | NS      | $786689.28    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Farmland Partners Inc                             | FARMLAND PARTNER                        | CUSIP: 31154R109<br>LEI: 549300LB188CHPZ4IL37 | Long             | EC               | CORP              | US        |     32407 | NS      | $373004.57    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                    | PUBLIC STORAGE                          | CUSIP: 74460D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    117321 | NS      | $34424327.82  | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                      | MEDICAL PROPERTI                        | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |    378732 | NS      | $1632334.92   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Forestar Group Inc                                | FORESTAR GROUP                          | CUSIP: 346232101<br>LEI: 549300BC2UB0GHV60V70 | Long             | EC               | CORP              | US        |     14887 | NS      | $297740.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                             | URBAN EDGE P                            | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93123 | NS      | $1737675.18   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander's Inc                                   | ALEXANDER'S INC                         | CUSIP: 014752109<br>LEI: 549300TZM28P04U5R635 | Long             | EC               | CORP              | US        |      1717 | NS      | $386874.44    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Peakstone Realty Trust                            | PEAKSTONE REALTY                        | CUSIP: 39818P799<br>LEI: 549300EZQXWQI2YL1T80 | Long             | EC               | CORP              | US        |     27317 | NS      | $360857.57    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cushman & Wakefield PLC                           | CUSHMAN & WAKEFI                        | CUSIP: G2717B108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    172536 | NS      | $1909973.52   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc                     | NATL HEALTH INV                         | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |     34636 | NS      | $2428676.32   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                        | Americold Realty Trust Inc              | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |    200637 | NS      | $3336593.31   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                         | HEALTHPEAK PROPE                        | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |    519330 | NS      | $9093468.30   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                          | HIGHWOODS PROP                          | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     79964 | NS      | $2486080.76   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                           | PEBBLEBROOK HOTE                        | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               | CORP              | US        |     88068 | NS      | $879799.32    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                                   | WEYERHAEUSER CO                         | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    539569 | NS      | $13861527.61  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers Inc                                  | SAUL CENTERS INC                        | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9966 | NS      | $340239.24    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts Inc                        | XENIA HOTELS & R                        | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               | CORP              | US        |     75253 | NS      | $945930.21    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc                     | INDEPENDENCE REA                        | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |    171428 | NS      | $3032561.32   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                                | KILROY REALTY                           | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     83346 | NS      | $2859601.26   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NET Lease Office Properties                       | NET LEASE OFFICE                        | CUSIP: 64110Y108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10457 | NS      | $340375.35    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chatham Lodging Trust                             | CHATHAM LODGING                         | CUSIP: 16208T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34897 | NS      | $243232.09    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Properties Trust                          | SERVICE PROPERTI                        | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Long             | EC               | CORP              | US        |    119158 | NS      | $284787.62    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                | EQUITY RESIDENTI                        | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |    254032 | NS      | $17144619.68  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                              | SL GREEN REALTY                         | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |     52675 | NS      | $3260582.50   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc                                | CARETRUST REI                           | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |    139698 | NS      | $4274758.80   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp                                 | GETTY REALTY                            | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     38770 | NS      | $1071602.80   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                       | HEALTHCARE REALT                        | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |    247354 | NS      | $3923034.44   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc                     | HUDSON PACIFIC P                        | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    250782 | NS      | $687142.68    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp                               | POTLATCHDELTIC C                        | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |     55493 | NS      | $2129266.41   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin Inc                           | ALEXANDER & BALD                        | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54082 | NS      | $964282.06    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc                      | AMERICAN HEALTHC                        | CUSIP: 398182303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    117855 | NS      | $4329992.70   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Residential Trust Inc                    | NEXPOINT RESI                           | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               | CORP              | US        |     17146 | NS      | $571304.72    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold Inc                                      | SAFEHOLD INC                            | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               | CORP              | US        |     34812 | NS      | $541674.72    | 0.05%             |  |  |  | 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        |     16965 | NS      | $1696362.85   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc                               | STAG INDUSTRIAL                         | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |    138564 | NS      | $5027101.92   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                    | EPR PROPERTIES                          | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     56517 | NS      | $3292680.42   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                                   | MACERICH CO                             | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |    187314 | NS      | $3030740.52   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                        | SABRA HEALTH CAR                        | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |    177245 | NS      | $3268397.80   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                                      | WP CAREY INC                            | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |    162740 | NS      | $10151721.20  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                           | BXP INC                                 | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |    111827 | NS      | $7544967.69   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Investment and Management Co            | APARTMENT INVEST                        | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               | CORP              | US        |     99481 | NS      | $860510.65    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                                  | CROWN CASTLE INC                        | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |    323618 | NS      | $33245277.14  | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc                      | SUNSTONE HOTEL                          | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |    141799 | NS      | $1230815.32   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust Inc                         | PIEDMONT REALTY                         | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92051 | NS      | $671051.79    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                              | VORNADO RLTY TST                        | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    121152 | NS      | $4632852.48   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                                 | RLJ LODGING TRUS                        | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    112486 | NS      | $818898.08    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Properties Inc              | INNOVATIVE INDUS                        | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |     21013 | NS      | $1160337.86   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                                | DOUGLAS EMMETT                          | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    124220 | NS      | $1868268.80   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Elme Communities                                  | ELME COMMUNITIES                        | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               | CORP              | US        |     65224 | NS      | $1037061.60   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                           | COPT DEFENSE PRO                        | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     83726 | NS      | $2309163.08   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                              | JBG SMITH PROPER                        | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60887 | NS      | $1053345.10   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities Inc             | MID-AMERICA APAR                        | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     86887 | NS      | $12860144.87  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit MTA REIT                                   | SPIRIT MTA REIT RTS                     | CUSIP: N/A<br>LEI: 5493001XMVHW4G48PP41       | Long             | EC               | CORP              | US        |     42040 | NS      | $3783.60      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| UMH Properties Inc                                | UMH PROPERTIES I                        | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |     58177 | NS      | $976791.83    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                        | APPLE HOSPITALIT                        | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |    168308 | NS      | $1964154.36   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Seritage Growth Properties                        | SERITAGE GROWT-A                        | CUSIP: 81752R100<br>LEI: 5493003CJFC2MM82WB25 | Long             | EC               | CORP              | US        |     26380 | NS      | $81250.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust                   | FED REALTY INVS                         | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |     60491 | NS      | $5746040.09   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings Inc                        | HOWARD HUGHES HO                        | CUSIP: 44267T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24307 | NS      | $1640722.50   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                       | LINEAGE INC                             | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50784 | NS      | $2210119.68   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Armada Hoffler Properties Inc                     | ARMADA HOFFLER P                        | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               | CORP              | US        |     59517 | NS      | $408881.79    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc                         | PARK H&R INC                            | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |    149730 | NS      | $1531737.90   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Land Corp                               | GLADSTONE LAND C                        | CUSIP: 376549101<br>LEI: 54930002B3Q17H38FG74 | Long             | EC               | CORP              | US        |     25624 | NS      | $260596.08    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                                    | NETSTREIT CORP                          | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     60585 | NS      | $1025704.05   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                             | AMERICAN HOMES-A                        | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    247222 | NS      | $8917297.54   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                                | REALTY INCOME                           | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |    662667 | NS      | $38176245.87  | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                                  | COSTAR GROUP INC                        | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    313419 | NS      | $25198887.60  | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc                 | GAMING AND LEISU                        | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |    204267 | NS      | $9535183.56   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                                      | RAYONIER INC                            | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |    109963 | NS      | $2438979.34   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| eXp World Holdings Inc                            | EXP WORLD HOLDIN                        | CUSIP: 30212W100<br>LEI: 549300TWVVZC283VEC32 | Long             | EC               | CORP              | US        |     56096 | NS      | $510473.60    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                                 | IRON MOUNTAIN                           | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |    218302 | NS      | $22391236.14  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmark Group Inc                                 | NEWMARK GROUP-A                         | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    106682 | NS      | $1296186.30   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc                         | AMERICAN ASSETS                         | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36483 | NS      | $720539.25    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                   | EQUITY LIFESTYLE                        | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |    135000 | NS      | $8325450.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc             | ESSENTIAL PROPER                        | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |    145529 | NS      | $4643830.39   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                         | HOST HOTELS & RE                        | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    515364 | NS      | $7915991.04   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                           | UDR INC                                 | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |    233871 | NS      | $9548952.93   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                                 | AGREE REALTY                            | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     79899 | NS      | $5837420.94   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                          | ESSEX PROPERTY                          | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     47811 | NS      | $13549637.40  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc                                  | ZILLOW GROUP I-A                        | CUSIP: 98954M101<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |     40430 | NS      | $2769050.70   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                          | EASTGROUP PROP                          | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     38885 | NS      | $6498461.20   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc                                  | ZILLOW GRO-C                            | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |    121689 | NS      | $8524314.45   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc                    | OMEGA HEALTHCARE                        | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |    209562 | NS      | $7680447.30   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust                      | DIVERSIFIED HEAL                        | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    124404 | NS      | $445366.32    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc                     | EMPIRE STATE REA                        | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               | CORP              | US        |    104533 | NS      | $845671.97    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                                   | WHITESTONE REI                          | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32461 | NS      | $405113.28    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                          | SIMON PROPERTY                          | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |    242452 | NS      | $38976583.52  | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Tejon Ranch Co                                    | TEJON RANCH CO                          | CUSIP: 879080109<br>LEI: 549300TMNDO77VJ6J111 | Long             | EC               | CORP              | US        |     15076 | NS      | $255688.96    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                           | SBA COMM CORP                           | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     80274 | NS      | $18851546.16  | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Inc                                       | COMPASS INC - A                         | CUSIP: 20464U100<br>LEI: 254900DMGQSTC3I2IM78 | Long             | EC               | CORP              | US        |    339525 | NS      | $2132217.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                               | AMERICAN TOWER C                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |    347853 | NS      | $76882470.06  | 7.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co                        | DIAMONDROCK HOSP                        | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |    155300 | NS      | $1189598.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                     | REXFORD INDUSTRI                        | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    175671 | NS      | $6248617.47   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                              | INVITATION HOMES                        | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    432758 | NS      | $14194462.40  | 1.30%             |  |  |  | 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        |      4968 | NS      | $496773.52    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                              | REGENCY CENTERS                         | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |    128194 | NS      | $9131258.62   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth Inc                             | CTO REALTY GROWT                        | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23213 | NS      | $400656.38    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp                        | INVENTRUST PROPE                        | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |     57458 | NS      | $1574349.20   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Group Inc                               | PARAMOUNT GROUP                         | CUSIP: 69924R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    138264 | NS      | $843410.40    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Kennedy-Wilson Holdings Inc                       | KENNEDY-WILSON H                        | CUSIP: 489398107<br>LEI: 549300MOI1T78144X610 | Long             | EC               | CORP              | US        |     82316 | NS      | $559748.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc                                        | TANGER INC                              | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |     83972 | NS      | $2567863.76   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                      | PROLOGIS INC                            | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    643881 | NS      | $67684770.72  | 6.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                         | AVALONBAY COMMUN                        | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |    105822 | NS      | $21534777.00  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Anywhere Real Estate Inc                          | ANYWHERE REAL ES                        | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Long             | EC               | CORP              | US        |     70606 | NS      | $255593.72    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                              | LAMAR ADVERTIS-A                        | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     65505 | NS      | $7949686.80   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** VANGUARD VARIABLE INSURANCE FUNDS

**Signature:** Ashley Grim

**Name of Signer:** Ashley Grim

**Title:** Treasurer