# EDGAR Filing Document

**Accession Number:** 0000766351
**File Stem:** 0001752724-23-034261
**Filing Date:** 2023-2
**Character Count:** 98911
**Document Hash:** a8e79e976a546d29a43a1c47f70d0437
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-034261.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-034261

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Securian Funds Trust
- **CENTRAL INDEX KEY:** 0000766351
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04279
- **FILM NUMBER:** 23656202

**BUSINESS ADDRESS:**
- **STREET 1:** 400 N ROBERT ST
- **CITY:** ST PAUL
- **STATE:** MN
- **ZIP:** 55101
- **BUSINESS PHONE:** 6516656918

**MAIL ADDRESS:**
- **STREET 1:** 400 ROBERT STREET NORTH
- **CITY:** ST PAUL
- **STATE:** MN
- **ZIP:** 55101-2098

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ADVANTUS SERIES FUND INC
- **DATE OF NAME CHANGE:** 19970609

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MIMLIC SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### SFT Balanced Stabilization Fund (Series ID: S000040621)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000125912 | SFT Balanced Stabilization Fund |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Securian Funds Trust

- **b. Investment Company Act file number:** 811-04279

- **c. CIK number of Registrant:** 0000766351

- **d. LEI of Registrant:** 549300J5E2OE7HWZ1521

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

  - **Street Address 1:** 400 N ROBERT ST

  - **City:** ST PAUL

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55101

  - **Telephone number:** 651-665-1735

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

- **a. Name of Series:** SFT Balanced Stabilization Fund

- **b. EDGAR series identifier (if any):** S000040621

- **c. LEI of Series:** 549300X4PH71QIQJY241

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $636203174.18

**Total Liabilities:** $10670427.80

**Net Assets:** $625532746.38

**Cash Not Reported:** $7756560.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -323.79000000 | **1-Year:** -10617.45000000 | **5-Year:** -38405.85000000 | **10-Year:** -65052.78000000 | **30-Year:** -49253.73000000

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

- **3-Month:** -5.28000000 | **1-Year:** -165.21000000 | **5-Year:** -734.13000000 | **10-Year:** -1065.00000000 | **30-Year:** -14.40000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000125912 | 2.49%                | 3.68%                | -2.41%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1208059.01             | $20362972.58                               |
| Month 2  | $-4802840.82             | $29489914.47                               |
| Month 3  | $-1128976.30             | $-17793457.73                              |

**Designated Index Information**

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

- **Index Identifier:** SPX, LBUSTRUU

### Schedule of Portfolio Investments

| Name                                  | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BRITISH AIR 13-1 A PTT                | British Airways Pass-Through Trust                           | CUSIP: 11042AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    371432 | PA      | $364003.22    | 0.06%             | 2024-06-20      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury                | U.S. Treasury Bonds                                          | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $7075468.75   | 1.13%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| eBay Inc                              | eBay, Inc.                                                   | CUSIP: 278642AL7<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |    750000 | PA      | $731015.25    | 0.12%             | 2024-08-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ESTEE LAUDER CO INC                   | Estee Lauder Cos., Inc.                                      | CUSIP: 29736RAK6<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $857290.00    | 0.14%             | 2047-03-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                          | Comcast Corp.                                                | CUSIP: 20030NBM2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    500000 | PA      | $460949.00    | 0.07%             | 2034-08-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                    | Energy Transfer LP                                           | CUSIP: 29273RBE8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $893051.00    | 0.14%             | 2035-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                   | Sherwin-Williams Co.                                         | CUSIP: 824348BF2<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $973708.00    | 0.16%             | 2026-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                    | Energy Transfer LP                                           | CUSIP: 86765BAN9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $983486.00    | 0.16%             | 2024-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AT&T INC                              | AT&T, Inc.                                                   | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     75000 | PA      | $52242.68     | 0.01%             | 2057-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC               | Goldman Sachs Group, Inc.                                    | CUSIP: 38141GZU1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1918994.00   | 0.31%             | 2028-08-23      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                            | AbbVie, Inc.                                                 | CUSIP: 00287YAM1<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $873788.00    | 0.14%             | 2042-11-06      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| RAYTHEON TECH CORP                    | Raytheon Technologies Corp.                                  | CUSIP: 75513ECF6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494568.00    | 0.08%             | 2023-12-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                            | Federal National Mortgage Association                        | CUSIP: 3138WPA20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26921 | PA      | $24343.76     | 0.00%             | 2043-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pine Street Trust I                   | Pine Street Trust I                                          | CUSIP: 722844AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1388424.00   | 0.22%             | 2029-02-15      | Fixed         | 4.57%                 | Yes           |                  2 | On Loan: No      |
| Aquarion Co                           | Aquarion Co.                                                 | CUSIP: 03838WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $493098.50    | 0.08%             | 2024-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| AMER AIRLN 15-2 A PASS T              | American Airlines Pass-Through Trust                         | CUSIP: 02377BAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    692098 | PA      | $546757.36    | 0.09%             | 2027-09-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KITE REALTY GROUP TRUST               | Kite Realty Group Trust                                      | CUSIP: 76131VAA1<br>LEI: 549300OVTYLM7DH6CM14 | Long             | DBT              |  | US        |   1000000 | PA      | $952180.00    | 0.15%             | 2025-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Constellation Brands Inc              | Constellation Brands, Inc.                                   | CUSIP: 21036PBD9<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $1935241.00   | 0.31%             | 2048-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMCOR FINANCE USA INC                 | Amcor Finance USA, Inc.                                      | CUSIP: 02343UAH8<br>LEI: 549300ZMT7FVT8R77U18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $944362.00    | 0.15%             | 2028-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                            | 3M Co.                                                       | CUSIP: 88579YAZ4<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $748726.00    | 0.12%             | 2047-10-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                              | AT&T, Inc.                                                   | CUSIP: 00206RCP5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $913070.00    | 0.15%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RETAIL OPPORTUNITY IN                 | Retail Opportunity Investments Partnership LP                | CUSIP: 76132FAA5<br>LEI: 549300KH0PNTJK9NTE57 | Long             | DBT              |  | US        |    250000 | PA      | $247147.50    | 0.04%             | 2023-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC              | Warnermedia Holdings, Inc.                                   | CUSIP: 55903VAQ6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1030335.60   | 0.16%             | 2052-03-15      | Fixed         | 5.14%                 | Yes           |                  2 | On Loan: No      |
| COMCAST CORP                          | Comcast Corp.                                                | CUSIP: 20030NDS7<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1319000 | PA      | $854911.17    | 0.14%             | 2051-11-01      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                            | AbbVie, Inc.                                                 | CUSIP: 00287YAQ2<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $970104.00    | 0.16%             | 2025-05-14      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp               | Marathon Petroleum Corp.                                     | CUSIP: 56585AAG7<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    750000 | PA      | $729709.50    | 0.12%             | 2024-09-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                   | JPMorgan Chase & Co.                                         | CUSIP: 46625HKC3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $965839.00    | 0.15%             | 2025-01-23      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| HEALTHCARE RLTY HLDGS LP              | Healthcare Realty Holdings LP                                | CUSIP: 42225UAF1<br>LEI: 549300IYGAS4GE6VDL07 | Long             | DBT              |  | US        |   1000000 | PA      | $928128.00    | 0.15%             | 2027-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                            | AbbVie, Inc.                                                 | CUSIP: 00287YAW9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $868346.00    | 0.14%             | 2046-05-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| MOHAWK INDUSTRIES INC                 | Mohawk Industries, Inc.                                      | CUSIP: 608190AL8<br>LEI: 549300JI1115MG3Q6322 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1725664.00   | 0.28%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Phillips 66                           | Phillips 66                                                  | CUSIP: 718546AK0<br>LEI: 5493005JBO5YSIGK1814 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $941072.00    | 0.15%             | 2034-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                  | Bank of America Corp.                                        | CUSIP: 06051GFP9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $972806.00    | 0.16%             | 2025-04-21      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FIRST REPUBLIC BANK                   | First Republic Bank                                          | CUSIP: 33616CAC4<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | DBT              | CORP              | US        |   1379000 | PA      | $1099720.78   | 0.18%             | 2047-02-13      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury                | U.S. Treasury Bonds                                          | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $6901562.50   | 1.10%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                   | Global Payments, Inc.                                        | CUSIP: 37940XAN2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1458252.00   | 0.23%             | 2029-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                         | Citigroup, Inc.                                              | CUSIP: 172967JP7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    750000 | PA      | $724740.00    | 0.12%             | 2025-04-27      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Eaton Vance Corp                      | Eaton Vance Corp.                                            | CUSIP: 278265AE3<br>LEI: 4JJ8ORNW1AFZPSV8GJ79 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $933708.00    | 0.15%             | 2027-04-06      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA G&E CO                       | Oklahoma Gas & Electric Co.                                  | CUSIP: 678858BR1<br>LEI: 549300VJ8YXGPO8EV472 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $795243.00    | 0.13%             | 2047-04-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Duke Energy Progress LLC              | Duke Energy Progress LLC                                     | CUSIP: 26442UAE4<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $765745.00    | 0.12%             | 2047-09-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| RAYTHEON TECH CORP                    | Raytheon Technologies Corp.                                  | CUSIP: 913017CP2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $825286.00    | 0.13%             | 2047-05-04      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2018-1 AA PTT              | United Airlines Pass-Through Trust                           | CUSIP: 909318AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    983882 | PA      | $835680.96    | 0.13%             | 2030-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Sealed Air Corp                       | Sealed Air Corp.                                             | CUSIP: 81211KAK6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992500.00    | 0.16%             | 2033-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ONEOK Inc                             | ONEOK, Inc.                                                  | CUSIP: 682680AW3<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1389451.50   | 0.22%             | 2029-03-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ONEOK Inc                             | ONEOK, Inc.                                                  | CUSIP: 682680AS2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $469214.00    | 0.08%             | 2027-07-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                   | JPMorgan Chase & Co.                                         | CUSIP: 46647PCE4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1374732.00   | 0.22%             | 2052-04-22      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                             | Amgen, Inc.                                                  | CUSIP: 031162DH0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1877166.00   | 0.30%             | 2029-08-18      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                           | Federal Home Loan Mortgage Corp.                             | CUSIP: 3128MJVB3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     54450 | PA      | $50889.06     | 0.01%             | 2044-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Mylan Inc                             | Mylan, Inc.                                                  | CUSIP: 628530BD8<br>LEI: 30ZMPDNA1RHIBH89C294 | Long             | DBT              | CORP              | US        |    500000 | PA      | $495199.00    | 0.08%             | 2023-11-29      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER               | Laboratory Corp. of America Holdings                         | CUSIP: 50540RAN2<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247540.50    | 0.04%             | 2023-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                           | Federal Home Loan Mortgage Corp.                             | CUSIP: 3128M9VV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     52009 | PA      | $46845.02     | 0.01%             | 2043-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                            | Federal National Mortgage Association                        | CUSIP: 3138WVPE5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     61846 | PA      | $55913.09     | 0.01%             | 2043-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL              | Penske Truck Leasing Co. Lp/PTL Finance Corp.                | CUSIP: 709599BB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $980098.00    | 0.16%             | 2024-02-01      | Fixed         | 3.90%                 | Yes           |                  2 | On Loan: No      |
| National Fuel Gas Co                  | National Fuel Gas Co.                                        | CUSIP: 636180BM2<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991989.00    | 0.16%             | 2025-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| United States Treasury                | U.S. Treasury Notes                                          | CUSIP: 91282CDN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15500000 | PA      | $14509453.13  | 2.32%             | 2024-12-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| National Fuel Gas Co                  | National Fuel Gas Co.                                        | CUSIP: 636180BP5<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $943650.00    | 0.15%             | 2028-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                    | Union Pacific Corp.                                          | CUSIP: 907818CS5<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2516420.00   | 0.40%             | 2033-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                 | Wells Fargo & Co.                                            | CUSIP: 95000U2Q5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1148654.40   | 0.18%             | 2041-04-30      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                | Option                                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -3203 | NC      | $-73669.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC               | Duke Energy Florida LLC                                      | CUSIP: 26444HAN1<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1071983.00   | 0.17%             | 2052-11-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                | Bank of New York Mellon Corp.                                | CUSIP: 06406RAB3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $940298.00    | 0.15%             | 2028-02-07      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp                    | Valero Energy Corp.                                          | CUSIP: 91913YAV2<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $965044.00    | 0.15%             | 2028-06-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ALLIED WORLD ASSURANCE                | Allied World Assurance Co. Holdings Ltd.                     | CUSIP: 01959EAC2<br>LEI: 549300E2X3MLXVVR4T40 | Long             | DBT              | CORP              | BM        |   1290000 | PA      | $1227575.61   | 0.20%             | 2025-10-29      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E              | Alexandria Real Estate Equities, Inc.                        | CUSIP: 015271AG4<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |    500000 | PA      | $472117.00    | 0.08%             | 2029-07-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| L3Harris Tech Inc                     | L3Harris Technologies, Inc.                                  | CUSIP: 413875AR6<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $972314.00    | 0.16%             | 2025-04-27      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                           | PNC Bank NA                                                  | CUSIP: 69349LAR9<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $946269.00    | 0.15%             | 2028-07-26      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC              | Celanese U.S. Holdings LLC                                   | CUSIP: 15089QAN4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1460701.50   | 0.23%             | 2029-07-15      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC              | Marsh & McLennan Cos., Inc.                                  | CUSIP: 571748BC5<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $858694.00    | 0.14%             | 2047-01-30      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                | Arizona Public Service Co.                                   | CUSIP: 040555CT9<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $787302.00    | 0.13%             | 2045-11-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| JABIL INC                             | Jabil, Inc.                                                  | CUSIP: 466313AJ2<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1764496.00   | 0.28%             | 2030-01-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Arch Capital Finance LLC              | Arch Capital Finance LLC                                     | CUSIP: 03939CAA1<br>LEI: 549300XG4URFY0200M65 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $955919.00    | 0.15%             | 2026-12-15      | Fixed         | 4.01%                 | No            |                  2 | On Loan: No      |
| American Tower Corp                   | American Tower Corp.                                         | CUSIP: 03027XAK6<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |   1000000 | PA      | $936953.00    | 0.15%             | 2026-10-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| EASTERN ENERGY GAS                    | Eastern Energy Gas Holdings LLC                              | CUSIP: 257375AE5<br>LEI: 549300BFOD6TDMVV4O24 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246742.75    | 0.04%             | 2023-11-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY BANK                        | Synchrony Bank                                               | CUSIP: 87166FAD5<br>LEI: 549300UATVPGSLE43Z27 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992463.00    | 0.16%             | 2025-08-22      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SVS                | Discover Financial Services                                  | CUSIP: 254709AL2<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $960368.00    | 0.15%             | 2025-03-04      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp                 | Norfolk Southern Corp.                                       | CUSIP: 655844BP2<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494952.50    | 0.08%             | 2024-01-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Securian Funds Trust - Index 500 Fund | Sft Advantus Index 500 Funds                                 | CUSIP: 000000000<br>LEI: 549300G6PNE5BCVU7620 | Long             | EC               | RF                | US        |  14224618 | NS      | $234734958.53 | 37.53%            |  |  |  | No            |                  1 | On Loan: No      |
| CROWN CASTLE INC                      | Crown Castle, Inc.                                           | CUSIP: 22822VAF8<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |   1000000 | PA      | $847797.00    | 0.14%             | 2047-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                | UnitedHealth Group, Inc.                                     | CUSIP: 91324PCP5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $976259.00    | 0.16%             | 2025-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange           | Future                                                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |      -198 | NC      | $1349336.34   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Pass-Through Trust                | CVS Pass-Through Trust                                       | CUSIP: 126650BQ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    123851 | PA      | $126928.81    | 0.02%             | 2030-01-10      | Fixed         | 6.94%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE TOWERS LLC               | Crown Castle Towers LLC                                      | CUSIP: 22822RBD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $965463.05    | 0.15%             | 2025-05-15      | Fixed         | 3.66%                 | Yes           |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL                 | Takeda Pharmaceutical Co. Ltd.                               | CUSIP: 874060AW6<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |   1000000 | PA      | $990842.00    | 0.16%             | 2028-11-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Textron Inc                           | Textron, Inc.                                                | CUSIP: 883203BU4<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494442.50    | 0.08%             | 2024-03-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                 | Truist Financial Corp.                                       | CUSIP: 89788MAK8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2109078.00   | 0.34%             | 2033-10-28      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                | Bank of New York Mellon Corp.                                | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1043178.00   | 0.17%             | 2033-10-25      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Bank                                  | Bank                                                         | CUSIP: 065402BC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1358382.17   | 0.22%             | 2062-05-15      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| Oglethorpe Power Corp                 | Oglethorpe Power Corp.                                       | CUSIP: 677050AL0<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | DBT              | CORP              | US        |    800000 | PA      | $582730.40    | 0.09%             | 2046-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Essex Portfolio LP                    | Essex Portfolio LP                                           | CUSIP: 29717PAP2<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              |  | US        |   1000000 | PA      | $961011.00    | 0.15%             | 2025-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Apple Inc                             | Apple, Inc.                                                  | CUSIP: 037833BH2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $930063.00    | 0.15%             | 2045-05-13      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                   | SVB Financial Group                                          | CUSIP: 78486QAH4<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1667258.00   | 0.27%             | 2028-05-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                | Williams Cos., Inc.                                          | CUSIP: 96949LAD7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    500000 | PA      | $471237.50    | 0.08%             | 2027-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| RAYTHEON TECH CORP                    | Raytheon Technologies Corp.                                  | CUSIP: 913017CY3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1440733.50   | 0.23%             | 2028-11-16      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                | FMG Resources August Pty. Ltd.                               | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $926250.00    | 0.15%             | 2032-04-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                | Verizon Communications, Inc.                                 | CUSIP: 92343VFW9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1194000 | PA      | $738272.89    | 0.12%             | 2056-10-30      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                  | M&T Bank Corp.                                               | CUSIP: 55261FAQ7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2903016.00   | 0.46%             | 2028-08-16      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Target Corp                           | Target Corp.                                                 | CUSIP: 87612EBD7<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |    750000 | PA      | $734661.75    | 0.12%             | 2024-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Kimberly-Clark Corp                   | Kimberly-Clark Corp.                                         | CUSIP: 494368BW2<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $822619.00    | 0.13%             | 2047-05-04      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                 | Micron Technology, Inc.                                      | CUSIP: 595112BS1<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1507182.00   | 0.24%             | 2032-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN              | Rogers Communications, Inc.                                  | CUSIP: 775109AY7<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $247424.50    | 0.04%             | 2023-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| OFFICE PPTY INCOME TRST               | Office Properties Income Trust                               | CUSIP: 81618TAC4<br>LEI: N/A                  | Long             | DBT              |  | US        |    750000 | PA      | $679655.25    | 0.11%             | 2025-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                | Option                                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -81 | NC      | $-17820.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                | SPDR S&P 500 ETF Trust                                       | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |     36170 | NS      | $13832493.10  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Mutual Group Inc              | Liberty Mutual Group, Inc.                                   | CUSIP: 53079EBE3<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    750000 | PA      | $744438.00    | 0.12%             | 2023-06-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON              | CenterPoint Energy Houston Electric LLC                      | CUSIP: 15189XBA5<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $2979109.35   | 0.48%             | 2052-10-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I               | Metropolitan Life Global Funding I                           | CUSIP: 59217GGU7<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2334009.00   | 0.37%             | 2031-01-07      | Fixed         | 1.55%                 | Yes           |                  2 | On Loan: No      |
| Welltower Inc                         | Welltower, Inc.                                              | CUSIP: 95040QAH7<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |   1500000 | PA      | $1369158.00   | 0.22%             | 2029-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS CO                    | Sonoco Products Co.                                          | CUSIP: 835495AL6<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2030-05-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Republic Services Inc                 | Republic Services, Inc.                                      | CUSIP: 760759AT7<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $951547.00    | 0.15%             | 2028-05-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                            | Federal National Mortgage Association                        | CUSIP: 3138W0VH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     71449 | PA      | $66864.46     | 0.01%             | 2043-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                  | Bank of America Corp.                                        | CUSIP: 06051GGM5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $858189.00    | 0.14%             | 2038-04-24      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| MAGELLAN MIDSTREAM PARTN              | Magellan Midstream Partners LP                               | CUSIP: 559080AM8<br>LEI: MZF5TI8NFVZZNUSKDL39 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $754804.00    | 0.12%             | 2047-10-03      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                      | Alabama Power Co.                                            | CUSIP: 010392FV5<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1384540.00   | 0.22%             | 2051-07-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC                     | General Mills, Inc.                                          | CUSIP: 370334CP7<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |   1002000 | PA      | $678729.75    | 0.11%             | 2051-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II              | Principal Life Global Funding II                             | CUSIP: 74256LEG0<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2276127.00   | 0.36%             | 2030-08-27      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Amazon.com Inc                        | Amazon.com, Inc.                                             | CUSIP: 023135BJ4<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $865619.00    | 0.14%             | 2047-08-22      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO              | Capital One Financial Corp.                                  | CUSIP: 14040HBZ7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1473118.50   | 0.24%             | 2025-04-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                      | Duke Energy Corp.                                            | CUSIP: 26441CBT1<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $941639.00    | 0.15%             | 2032-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO               | Bristol-Myers Squibb Co.                                     | CUSIP: 110122DC9<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    229000 | PA      | $223000.43    | 0.04%             | 2025-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc                            | Fiserv, Inc.                                                 | CUSIP: 337738AP3<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $970867.00    | 0.16%             | 2025-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                     | Kinder Morgan, Inc.                                          | CUSIP: 49456BAG6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    750000 | PA      | $703838.25    | 0.11%             | 2034-12-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Bio-Rad Laboratories Inc              | Bio-Rad Laboratories, Inc.                                   | CUSIP: 090572AQ1<br>LEI: 549300ZC1GPV35XYDK53 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1721446.00   | 0.28%             | 2032-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| KROGER CO                             | Kroger Co.                                                   | CUSIP: 501044DG3<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $854328.00    | 0.14%             | 2047-02-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANK                      | Fifth Third Bank NA                                          | CUSIP: 31677QBM0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $979669.00    | 0.16%             | 2025-07-28      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CARGILL INC                           | Cargill, Inc.                                                | CUSIP: 141781BX1<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |   2150000 | PA      | $1873651.90   | 0.30%             | 2052-04-22      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| COMCAST CORP                          | Comcast Corp.                                                | CUSIP: 20030NDU2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    327000 | PA      | $206112.35    | 0.03%             | 2056-11-01      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT               | Wisconsin Power & Light Co.                                  | CUSIP: 976826BQ9<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2758383.00   | 0.44%             | 2032-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Physicians Realty LP                  | Physicians Realty LP                                         | CUSIP: 71951QAA0<br>LEI: 549300P6Q1UMT0X60U20 | Long             | DBT              |  | US        |   1000000 | PA      | $939944.00    | 0.15%             | 2027-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                            | Federal National Mortgage Association                        | CUSIP: 3138WPGY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     80482 | PA      | $72752.69     | 0.01%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY SOUTHERN                  | Kansas City Southern                                         | CUSIP: 485170AQ7<br>LEI: 5493008C12PZMWP3WY03 | Long             | DBT              | CORP              | US        |    250000 | PA      | $207190.25    | 0.03%             | 2043-05-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MOODY'S CORPORATION                   | Moody's Corp.                                                | CUSIP: 615369AC9<br>LEI: 549300GCEDD8YCF5WU84 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249035.75    | 0.04%             | 2024-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                           | Oracle Corp.                                                 | CUSIP: 68389XBP9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $795299.00    | 0.13%             | 2037-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE              | Intercontinental Exchange, Inc.                              | CUSIP: 45866FAV6<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2907195.00   | 0.46%             | 2029-06-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| AT&T INC                              | AT&T, Inc.                                                   | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    943000 | PA      | $727584.85    | 0.12%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                  | Bank of America Corp.                                        | CUSIP: 06051GGC7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $949221.00    | 0.15%             | 2027-11-25      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| FLORIDA GAS TRANSMISSION              | Florida Gas Transmission Co. LLC                             | CUSIP: 340711AW0<br>LEI: 549300Q0UQF87NXNOC32 | Long             | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2025-07-15      | Fixed         | 4.35%                 | Yes           |                  2 | On Loan: No      |
| HEALTHCARE RLTY HLDGS LP              | Healthcare Realty Holdings LP                                | CUSIP: 42225UAJ3<br>LEI: 549300IYGAS4GE6VDL07 | Long             | DBT              |  | US        |   1000000 | PA      | $958992.00    | 0.15%             | 2025-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP               | Dell International LLC/EMC Corp.                             | CUSIP: 24703TAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2039594.00   | 0.33%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Novartis Capital Corp                 | Novartis Capital Corp.                                       | CUSIP: 66989HAG3<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |    500000 | PA      | $489878.00    | 0.08%             | 2024-05-06      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| ASSOC BANC-CORP                       | Associated Banc-Corp.                                        | CUSIP: 045487AB1<br>LEI: 549300N3CIN473IW5094 | Long             | DBT              | CORP              | US        |    750000 | PA      | $715248.00    | 0.11%             | 2025-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Carlisle Cos Inc                      | Carlisle Cos., Inc.                                          | CUSIP: 142339AH3<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $932726.00    | 0.15%             | 2027-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2013-1 A PTT               | United Airlines Pass-Through Trust                           | CUSIP: 909319AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150777 | PA      | $140303.93    | 0.02%             | 2025-08-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MPLX LP                               | MPLX LP                                                      | CUSIP: 55336VBU3<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1884760.00   | 0.30%             | 2032-09-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                   | Global Payments, Inc.                                        | CUSIP: 891906AC3<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    750000 | PA      | $726554.25    | 0.12%             | 2026-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC               | Goldman Sachs Group, Inc.                                    | CUSIP: 38148LAF3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $909112.00    | 0.15%             | 2045-05-22      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                           | PNC Bank NA                                                  | CUSIP: 69349LAM0<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248116.75    | 0.04%             | 2023-07-25      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Discover Bank                         | Discover Bank                                                | CUSIP: 25466AAE1<br>LEI: X05BVSK68TQ7YTOSNR22 | Long             | DBT              | CORP              | US        |    500000 | PA      | $475643.00    | 0.08%             | 2026-03-13      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                 | Wells Fargo & Co.                                            | CUSIP: 94974BGU8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $1945800.00   | 0.31%             | 2046-12-07      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                          | Broadcom, Inc.                                               | CUSIP: 11135FBK6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1612620.00   | 0.26%             | 2033-04-15      | Fixed         | 3.42%                 | Yes           |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY ENERG              | Berkshire Hathaway Energy Co.                                | CUSIP: 59562VAY3<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247156.25    | 0.04%             | 2023-11-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                   | Elevance Health, Inc.                                        | CUSIP: 036752AD5<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $867843.00    | 0.14%             | 2047-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                            | Federal National Mortgage Association                        | CUSIP: 3138EKG74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     53768 | PA      | $50962.15     | 0.01%             | 2042-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FIRST REPUBLIC BANK                   | First Republic Bank                                          | CUSIP: 33616CAB6<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | DBT              | CORP              | US        |    575000 | PA      | $438690.50    | 0.07%             | 2046-08-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TRUIST BANK                           | Truist Bank                                                  | CUSIP: 86787EAN7<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248249.25    | 0.04%             | 2023-05-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                            | Federal National Mortgage Association                        | CUSIP: 3138WRWP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     57046 | PA      | $51577.68     | 0.01%             | 2043-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HARMAN INTL IND                       | Harman International Industries, Inc.                        | CUSIP: 413086AH2<br>LEI: 1VWDHRIRERCQ5D5M5681 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $974197.00    | 0.16%             | 2025-05-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                   | Abbott Laboratories                                          | CUSIP: 002824BN9<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    250000 | PA      | $240620.50    | 0.04%             | 2043-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Flex Ltd                              | Flex Ltd.                                                    | CUSIP: 33938XAA3<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |   1000000 | PA      | $942011.00    | 0.15%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BAKER HUGHES LLC/CO-OBL               | Baker Hughes Holdings LLC/Baker Hughes Co.-Obligor, Inc.     | CUSIP: 05723KAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $925052.00    | 0.15%             | 2027-12-15      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC               | Jefferies Financial Group, Inc.                              | CUSIP: 47233JGT9<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1537840.00   | 0.25%             | 2031-10-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| American Express Co                   | American Express Co.                                         | CUSIP: 025816BF5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1731710.00   | 0.28%             | 2042-12-03      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Aetna Inc                             | Aetna, Inc.                                                  | CUSIP: 00817YAZ1<br>LEI: 549300QKBENKLBXQ8968 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $779372.00    | 0.12%             | 2047-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KROGER CO                             | Kroger Co.                                                   | CUSIP: 501044CT6<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1014426.60   | 0.16%             | 2043-08-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY INC                    | Coterra Energy, Inc.                                         | CUSIP: 127097AG8<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $935086.53    | 0.15%             | 2027-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| LEIDOS INC                            | Leidos, Inc.                                                 | CUSIP: 52532XAF2<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1807500.00   | 0.29%             | 2030-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| YARA INTERNATIONAL ASA                | Yara International ASA                                       | CUSIP: 984851AG0<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | DBT              | CORP              | NO        |   1000000 | PA      | $789408.00    | 0.13%             | 2030-06-04      | Fixed         | 3.15%                 | Yes           |                  2 | On Loan: No      |
| Abbott Laboratories                   | Abbott Laboratories                                          | CUSIP: 002824BG4<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $994783.00    | 0.16%             | 2036-11-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                        | Morgan Stanley                                               | CUSIP: 6174468Y8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1252700.00   | 0.20%             | 2052-01-25      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| JOHNSON (S.C.) & SON INC              | SC Johnson & Son, Inc.                                       | CUSIP: 78408LAB3<br>LEI: PH5ZFDENRYXEVLP50443 | Long             | DBT              | CORP              | US        |    750000 | PA      | $725499.00    | 0.12%             | 2024-09-30      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| LOWE'S COS INC                        | Lowe's Cos., Inc.                                            | CUSIP: 548661EM5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2163312.00   | 0.35%             | 2053-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                            | AbbVie, Inc.                                                 | CUSIP: 00287YCX5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    670000 | PA      | $653896.55    | 0.10%             | 2025-03-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corp                 | General Dynamics Corp.                                       | CUSIP: 369550BG2<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $973544.00    | 0.16%             | 2025-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                   | Abbott Laboratories                                          | CUSIP: 002824BM1<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    750000 | PA      | $736707.00    | 0.12%             | 2025-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Washington Gas Light Co               | Washington Gas Light Co.                                     | CUSIP: 93884PDW7<br>LEI: DL22T1SB4DUBS063O841 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $749813.00    | 0.12%             | 2046-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| EOG Resources Inc                     | EOG Resources, Inc.                                          | CUSIP: 26875PAK7<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248850.50    | 0.04%             | 2023-03-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                         | Citigroup, Inc.                                              | CUSIP: 172967ME8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $901475.00    | 0.14%             | 2030-03-20      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                           | KeyBank NA                                                   | CUSIP: 49306SAA4<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2890011.00   | 0.46%             | 2027-12-14      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C              | American Water Capital Corp.                                 | CUSIP: 03040WAR6<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $782880.00    | 0.13%             | 2047-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON AND CO               | Becton Dickinson & Co.                                       | CUSIP: 075887CP2<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1879118.00   | 0.30%             | 2032-08-22      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Vulcan Materials Co                   | Vulcan Materials Co.                                         | CUSIP: 929160AV1<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $835700.00    | 0.13%             | 2047-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER              | Enterprise Products Operating LLC                            | CUSIP: 293791AT6<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    250000 | PA      | $240185.00    | 0.04%             | 2035-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AT&T INC                              | AT&T, Inc.                                                   | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1405000 | PA      | $950333.57    | 0.15%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Ameren Illinois Co                    | Ameren Illinois Co.                                          | CUSIP: 02361DAR1<br>LEI: RC71E2BZ6UOMFPDJSE79 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $788503.00    | 0.13%             | 2047-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CRH America Finance Inc               | CRH America Finance, Inc.                                    | CUSIP: 12636YAB8<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $829956.00    | 0.13%             | 2047-05-09      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE              | Caterpillar Financial Services Corp.                         | CUSIP: 14913Q2V0<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2024-05-17      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Entergy Texas Inc                     | Entergy Texas, Inc.                                          | CUSIP: 29365TAF1<br>LEI: LWXX58X12AJXISQ28573 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2763333.00   | 0.44%             | 2027-12-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                | Option                                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |        81 | NC      | $259281.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                         | Citigroup, Inc.                                              | CUSIP: 172967MD0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1091203.75   | 0.17%             | 2048-07-23      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Flex Ltd                              | Flex Ltd.                                                    | CUSIP: 33938EAU1<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |   1000000 | PA      | $977379.00    | 0.16%             | 2025-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FedEx Corp                            | FedEx Corp.                                                  | CUSIP: 31428XBN5<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $802940.00    | 0.13%             | 2047-01-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                        | Morgan Stanley                                               | CUSIP: 61747YEY7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1050736.00   | 0.17%             | 2033-10-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| MEAD JOHNSON NUTRITION C              | Mead Johnson Nutrition Co.                                   | CUSIP: 582839AF3<br>LEI: E4BJRFT3MF4GJDY1SC50 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1044463.00   | 0.17%             | 2039-11-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                    | Vodafone Group PLC                                           | CUSIP: 92857WBJ8<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $492128.50    | 0.08%             | 2025-05-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR              | Anheuser-Busch InBev Worldwide, Inc.                         | CUSIP: 035240AM2<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $904281.00    | 0.14%             | 2038-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                | Anglo American Capital PLC                                   | CUSIP: 034863AX8<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $1634594.00   | 0.26%             | 2030-09-10      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| Atmos Energy Corp                     | Atmos Energy Corp.                                           | CUSIP: 049560AQ8<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |    750000 | PA      | $614091.00    | 0.10%             | 2049-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES              | Delta Air Lines, Inc./SkyMiles IP Ltd.                       | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2000000 | PA      | $1880312.00   | 0.30%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AVERY DENNISON CORP                   | Avery Dennison Corp.                                         | CUSIP: 053611AK5<br>LEI: 549300PW7VPFCYKLIV37 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1650398.00   | 0.26%             | 2030-04-30      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| SOUTHERN NATURAL GAS                  | Southern Natural Gas Co. LLC                                 | CUSIP: 84346LAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1226805.00   | 0.20%             | 2047-03-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| Amazon.com Inc                        | Amazon.com, Inc.                                             | CUSIP: 023135BF2<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $890758.00    | 0.14%             | 2037-08-22      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                | UnitedHealth Group, Inc.                                     | CUSIP: 91324PBZ4<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249360.75    | 0.04%             | 2023-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| COMERICA BANK                         | Comerica Bank                                                | CUSIP: 200339EX3<br>LEI: 70WY0ID1N53Q4254VH70 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1920018.00   | 0.31%             | 2033-08-25      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Textron Inc                           | Textron, Inc.                                                | CUSIP: 883203BV2<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |    750000 | PA      | $730742.25    | 0.12%             | 2025-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GATX Corp                             | GATX Corp.                                                   | CUSIP: 361448AW3<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $952482.00    | 0.15%             | 2025-03-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                         | Citigroup, Inc.                                              | CUSIP: 172967KR1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1007967.60   | 0.16%             | 2046-05-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CME Group Inc                         | CME Group, Inc.                                              | CUSIP: 12572QAG0<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $966279.00    | 0.15%             | 2025-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                           | Federal Home Loan Mortgage Corp.                             | CUSIP: 3128MJVH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     53038 | PA      | $49569.59     | 0.01%             | 2044-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd                           | Nutrien Ltd.                                                 | CUSIP: 67077MAD0<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $958217.00    | 0.15%             | 2025-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US BANCORP                            | U.S. Bancorp                                                 | CUSIP: 91159HJJ0<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1046147.00   | 0.17%             | 2033-10-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| MOSAIC CO                             | Mosaic Co.                                                   | CUSIP: 61945CAD5<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197528.60    | 0.03%             | 2033-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                | Option                                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      3203 | NC      | $294676.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co               | Bristol-Myers Squibb Co.                                     | CUSIP: 110122AW8<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492944.50    | 0.08%             | 2023-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR INC                       | Caterpillar, Inc.                                            | CUSIP: 149123CJ8<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $1763543.40   | 0.28%             | 2050-04-09      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN FINANCIAL GROUP              | American Financial Group, Inc.                               | CUSIP: 025932AL8<br>LEI: 549300AFOM7IVKIU1G39 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $796126.00    | 0.13%             | 2047-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cardinal Health Inc                   | Cardinal Health, Inc.                                        | CUSIP: 14149YBE7<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $966715.00    | 0.15%             | 2025-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC               | Goldman Sachs Group, Inc.                                    | CUSIP: 38141GWB6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $953972.00    | 0.15%             | 2027-01-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Mars Inc                              | Mars, Inc.                                                   | CUSIP: 571676AF2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $827261.00    | 0.13%             | 2049-04-01      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                   | American Express Co.                                         | CUSIP: 025816CP2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $936381.00    | 0.15%             | 2027-05-03      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                | BP Capital Markets America, Inc.                             | CUSIP: 10373QAE0<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $968064.00    | 0.15%             | 2028-11-06      | Fixed         | 4.23%                 | No            |                  2 | On Loan: No      |
| iShares Core S&P 500 ETF              | iShares Core S&P 500 ETF                                     | CUSIP: 464287200<br>LEI: 5493007M4YMN8XL48C14 | Long             | EC               | RF                | US        |    105440 | NS      | $40511102.40  | 6.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ASHTEAD CAPITAL INC                   | Ashtead Capital, Inc.                                        | CUSIP: 04505AAA7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1922080.00   | 0.31%             | 2032-08-11      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| NORTHERN STATES PWR-WISC              | Northern States Power Co.                                    | CUSIP: 665789AZ6<br>LEI: OOVRSRHKQSBLKRB7QM17 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $740052.00    | 0.12%             | 2047-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                       | Chevron USA, Inc.                                            | CUSIP: 166756AP1<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $983017.00    | 0.16%             | 2024-11-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Tyson Foods Inc                       | Tyson Foods, Inc.                                            | CUSIP: 902494AY9<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $930676.00    | 0.15%             | 2044-08-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ASSURED GUARANTY US HLDG              | Assured Guaranty U.S. Holdings, Inc.                         | CUSIP: 04621WAC4<br>LEI: 5493007YCE0652G9TZ64 | Long             | DBT              | CORP              | US        |    330000 | PA      | $329297.43    | 0.05%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AIR CANADA 2015-2A PTT                | Air Canada Pass-Through Trust                                | CUSIP: 009088AB1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    760708 | PA      | $616173.31    | 0.10%             | 2027-12-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Vanguard S&P 500 ETF                  | Vanguard S&P 500 ETF                                         | CUSIP: 922908363<br>LEI: 549300D8V8ZP5GRJOC71 | Long             | EC               | RF                | US        |     20175 | NS      | $7088284.50   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PACIFIC LIFE INSURANCE C              | Pacific Life Insurance Co.                                   | CUSIP: 69448FAA9<br>LEI: 8WC3XYHE06SQFW7CQK10 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $780000.00    | 0.12%             | 2067-10-24      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL                 | TotalEnergies Capital International SA                       | CUSIP: 89153VAL3<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    750000 | PA      | $740056.50    | 0.12%             | 2024-04-10      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                      | Paramount Global                                             | CUSIP: 124857AQ6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    250000 | PA      | $239567.00    | 0.04%             | 2026-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AutoZone Inc                          | AutoZone, Inc.                                               | CUSIP: 053332AR3<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $960086.00    | 0.15%             | 2025-04-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                | General Motors Financial Co., Inc.                           | CUSIP: 37045XDW3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1944074.00   | 0.31%             | 2027-04-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GATX Corp                             | GATX Corp.                                                   | CUSIP: 361448BC6<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $945425.00    | 0.15%             | 2028-11-07      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors          | State Street Institutional U.S. Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  77124275 | NS      | $77124274.98  | 12.33%            |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                          | QUALCOMM, Inc.                                               | CUSIP: 747525AJ2<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $969747.00    | 0.16%             | 2035-05-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BURLINGTN NORTH SANTA FE              | Burlington Northern Santa Fe LLC                             | CUSIP: 12189LAR2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $344818.60    | 0.06%             | 2024-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Yara International ASA                | Yara International ASA                                       | CUSIP: 984851AF2<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | DBT              | CORP              | NO        |   1000000 | PA      | $921583.00    | 0.15%             | 2028-06-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Union Pacific Corp                    | Union Pacific Corp.                                          | CUSIP: 907818DV7<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492961.50    | 0.08%             | 2024-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE               | Walt Disney Co.                                              | CUSIP: 254687EX0<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $946909.00    | 0.15%             | 2045-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| GOODMAN US FIN FOUR                   | Goodman U.S. Finance Four LLC                                | CUSIP: 38239KAA6<br>LEI: N/A                  | Long             | DBT              |  | US        |    500000 | PA      | $416960.50    | 0.07%             | 2037-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CARGILL INC                           | Cargill, Inc.                                                | CUSIP: 141781BR4<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $693544.00    | 0.11%             | 2051-05-25      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                           | Federal Home Loan Mortgage Corp.                             | CUSIP: 3128MJVN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     58106 | PA      | $54305.83     | 0.01%             | 2044-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Securian Funds Trust

**Signature:** Kyle Riste

**Name of Signer:** Kyle Riste

**Title:** Financial Reporting Manager