# EDGAR Filing Document

**Accession Number:** 0002015799
**File Stem:** 0001410368-26-057626
**Filing Date:** 2026-6
**Character Count:** 69891
**Document Hash:** 6e31d0c38880110597c1e1716a2f5b1f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-057626.hdr.sgml**: 20260610

**ACCESSION NUMBER**: 0001410368-26-057626

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260610

**DATE AS OF CHANGE**: 20260610

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lincoln Funds Trust
- **CENTRAL INDEX KEY:** 0002015799

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23952
- **FILM NUMBER:** 261078343

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 S. HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** (484) 583-6302

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

## Series and Classes Contracts Data

### Lincoln Inflation Plus Fund (Series ID: S000085533)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000250823 | Class I      | LFTEX           |
| C000250824 | Class A      | LFTAX           |

## Nport-Ex

**Lincoln Inflation Plus Fund**

**Consolidated Schedule of Investments**

April 30, 2026 (unaudited)

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

---

| | | |
|:---|:---|:---|
|  | **Number of** <br>**Shares**<br>| **Value** <br>**(U.S. $)**<br>|
| **ΔCOMMON STOCK–1.67%** | **ΔCOMMON STOCK–1.67%** | **ΔCOMMON STOCK–1.67%** |
| **Australia–0.26%** | **Australia–0.26%** | **Australia–0.26%** |
| &nbsp;&nbsp; †Predictive Discovery Ltd. | 50400 | $33943 |
|  |  | **33943** |
| **Canada–0.69%** | **Canada–0.69%** | **Canada–0.69%** |
| &nbsp;&nbsp;&nbsp; Franco-Nevada Corp. | 130 | 29944 |
| &nbsp;&nbsp;&nbsp; OR Royalties, Inc. | 830 | 30635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wheaton Precious Metals <br> Corp.<br>| 230 | 29086 |
|  |  | **89665** |
| **Norway–0.26%** | **Norway–0.26%** | **Norway–0.26%** |
| &nbsp;&nbsp;&nbsp; Norsk Hydro ASA | 3100 | 34213 |
|  |  | **34213** |
| **United States–0.46%** | **United States–0.46%** | **United States–0.46%** |
| &nbsp;&nbsp;&nbsp; Alcoa Corp. | 500 | 31895 |
| &nbsp;&nbsp;&nbsp; Royal Gold, Inc. | 120 | 28006 |
|  |  | **59901** |
| **Total Common Stock** <br>**(Cost $234,690)** | **Total Common Stock** <br>**(Cost $234,690)** | **217722** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal** <br>**Amount°**<br>|  |
| **ΔSOVEREIGN BONDS–32.04%** | **ΔSOVEREIGN BONDS–32.04%** | **ΔSOVEREIGN BONDS–32.04%** | **ΔSOVEREIGN BONDS–32.04%** |
| **Argentina–0.97%** | **Argentina–0.97%** | **Argentina–0.97%** | **Argentina–0.97%** |
| &nbsp;&nbsp; φArgentina Government <br> International Bonds 4.13% <br> 7/9/35<br>|  | 170000 | 126650 |
|  |  |  | **126650** |
| **Brazil–6.38%** | **Brazil–6.38%** | **Brazil–6.38%** | **Brazil–6.38%** |
| &nbsp;&nbsp; Brazil Notas do Tesouro <br> Nacional <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00% 5/15/35 | BRL | 70000 | 61986 |
| &nbsp;&nbsp;&nbsp; 10.00% 1/1/35 | BRL | 4490000 | 771379 |
|  |  |  | **833365** |
| **Chile–1.51%** | **Chile–1.51%** | **Chile–1.51%** | **Chile–1.51%** |
| &nbsp;&nbsp; Bonos de la Tesoreria de la <br> Republica en pesos 4.70% <br> 9/1/30<br>| CLP | 180000000 | 196562 |
|  |  |  | **196562** |
| **Colombia–4.22%** | **Colombia–4.22%** | **Colombia–4.22%** | **Colombia–4.22%** |
| Colombia TES  |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25% 7/9/36 | COP | 1810000000 | 310191 |
| &nbsp;&nbsp;&nbsp; 9.25% 5/28/42 | COP | 550000000 | 112448 |
| &nbsp;&nbsp;&nbsp; 13.25% 2/9/33 | COP | 482700000 | 127874 |
|  |  |  | **550513** |
| **Egypt–2.20%** | **Egypt–2.20%** | **Egypt–2.20%** | **Egypt–2.20%** |
| &nbsp;&nbsp; Egypt Treasury Bills 0.00% <br> 10/13/26<br>| EGP | 17000000 | 286501 |
|  |  |  | **286501** |
| **Hungary–3.21%** | **Hungary–3.21%** | **Hungary–3.21%** | **Hungary–3.21%** |
| Hungary Government Bonds  |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25% 9/23/37 | HUF | 30500000 | 99518 |
| &nbsp;&nbsp;&nbsp; 7.00% 10/24/35 | HUF | 92700000 | 319899 |
|  |  |  | **419417** |
| **Malaysia–2.56%** | **Malaysia–2.56%** | **Malaysia–2.56%** | **Malaysia–2.56%** |
| Malaysia Government Bonds  |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.83% 7/5/34 | MYR | 900000 | 230899 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** |
| **Malaysia (continued)** | **Malaysia (continued)** | **Malaysia (continued)** | **Malaysia (continued)** |
| &nbsp;&nbsp; Malaysia Government <br> Bonds (continued) <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.89% 8/15/29 | MYR | 400000 | $102738 |
|  |  |  | **333637** |
| **Mexico–4.61%** | **Mexico–4.61%** | **Mexico–4.61%** | **Mexico–4.61%** |
| Mexico Bonos  |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75% 11/23/34 | MXN | 3600000 | 188689 |
| &nbsp;&nbsp;&nbsp; 8.50% 11/18/38 | MXN | 7810000 | 413617 |
|  |  |  | **602306** |
| **Philippines–0.70%** | **Philippines–0.70%** | **Philippines–0.70%** | **Philippines–0.70%** |
| &nbsp;&nbsp; Philippines Government <br> Bonds 6.38% 4/28/35<br>| PHP | 5890000 | 91713 |
|  |  |  | **91713** |
| **Romania–1.37%** | **Romania–1.37%** | **Romania–1.37%** | **Romania–1.37%** |
| &nbsp;&nbsp; Romania Government Bonds <br> 7.10% 7/31/34<br>| RON | 800000 | 178342 |
|  |  |  | **178342** |
| **South Africa–4.31%** | **South Africa–4.31%** | **South Africa–4.31%** | **South Africa–4.31%** |
| &nbsp;&nbsp; Republic of South Africa <br> Government Bonds <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.50% 1/31/37 | ZAR | 4500000 | 259831 |
| &nbsp;&nbsp;&nbsp; 8.75% 2/28/48 | ZAR | 5350000 | 303308 |
|  |  |  | **563139** |
| **Total Sovereign Bonds** <br>**(Cost $4,018,972)** | **Total Sovereign Bonds** <br>**(Cost $4,018,972)** | **Total Sovereign Bonds** <br>**(Cost $4,018,972)** | **4182145** |
| **SUPRANATIONAL BANKS–3.48%** | **SUPRANATIONAL BANKS–3.48%** | **SUPRANATIONAL BANKS–3.48%** | **SUPRANATIONAL BANKS–3.48%** |
| &nbsp;&nbsp; Asian Infrastructure <br> Investment Bank 6.00% <br> 12/8/31<br>|  | 14500000 | 140976 |
| &nbsp;&nbsp; European Bank for <br> Reconstruction & <br> Development <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50% 10/3/36 |  | 20500000 | 196720 |
| &nbsp;&nbsp;&nbsp; 7.05% 8/10/33 |  | 11500000 | 116630 |
| **Total Supranational Banks** <br>**(Cost $550,267)**<br>|  |  | **454326** |
| **U.S. TREASURY OBLIGATION–0.96%** | **U.S. TREASURY OBLIGATION–0.96%** | **U.S. TREASURY OBLIGATION–0.96%** | **U.S. TREASURY OBLIGATION–0.96%** |
| &nbsp;&nbsp; U.S. Treasury Bonds 4.75% <br> 2/15/56<br>|  | 130000 | 125166 |
| **Total U.S. Treasury Obligation** <br>**(Cost $127,468)** | **Total U.S. Treasury Obligation** <br>**(Cost $127,468)** | **Total U.S. Treasury Obligation** <br>**(Cost $127,468)** | **125166** |

---

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

---

| | | |
|:---|:---|:---|
|  | **Number of** <br>**Shares**<br>|  |
| **EXCHANGE-TRADED FUNDS–16.54%** | **EXCHANGE-TRADED FUNDS–16.54%** | **EXCHANGE-TRADED FUNDS–16.54%** |
| &nbsp;&nbsp;&nbsp; abrdn Bloomberg All <br> Commodity Strategy K-1 <br> Free ETF <br>| 53100 | 1343961 |
| &nbsp;&nbsp; iShares Silver Trust  | 3300 | 219978 |
| &nbsp;&nbsp;&nbsp; SPDR<sup>®</sup> Gold MiniShares <br> Trust <br>| 6510 | 594819 |
| **Total Exchange-Traded Funds** <br>**(Cost $1,921,414)** | **Total Exchange-Traded Funds** <br>**(Cost $1,921,414)** | **2158758** |

---

*Lincoln Inflation Plus Fund–1*

------

**Lincoln Inflation Plus Fund**

**Consolidated Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Shares**<br>| **Value**<br> **(U.S. $)**<br>|
| **MONEY MARKET FUND–0.01%** | **MONEY MARKET FUND–0.01%** | **MONEY MARKET FUND–0.01%** |
| &nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money <br> Market Fund Premier Class <br> (seven-day effective yield <br> 3.60%)<br>| 1946 | $1945 |
| **Total Money Market Fund** <br>**(Cost $1,946)** | **Total Money Market Fund** <br>**(Cost $1,946)** | **1945** |

---

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

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount°**<br>|  |
| **SHORT-TERM INVESTMENTS–42.15%** | **SHORT-TERM INVESTMENTS–42.15%** | **SHORT-TERM INVESTMENTS–42.15%** |
| **U.S. TREASURY OBLIGATIONS–40.66%** | **U.S. TREASURY OBLIGATIONS–40.66%** | **U.S. TREASURY OBLIGATIONS–40.66%** |
| ≠U.S. Treasury Bills | ≠U.S. Treasury Bills | ≠U.S. Treasury Bills |
| &nbsp;&nbsp; 3.65% 6/2/26 | 1250000 | 1246030 |
| &nbsp;&nbsp; 3.66% 5/28/26 | 850000 | 847716 |
| &nbsp;&nbsp; 3.67% 6/4/26 | 300000 | 298984 |
| &nbsp;&nbsp; 3.67% 6/4/26 | 450000 | 448474 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |
| **U.S. TREASURY OBLIGATIONS (continued)** | **U.S. TREASURY OBLIGATIONS (continued)** | **U.S. TREASURY OBLIGATIONS (continued)** |
| ≠U.S. Treasury Bills (continued) | ≠U.S. Treasury Bills (continued) | ≠U.S. Treasury Bills (continued) |
| &nbsp;&nbsp; 3.67% 6/25/26 | 500000 | $497258 |
| &nbsp;&nbsp; 3.68% 5/14/26 | 200000 | 199740 |
| &nbsp;&nbsp; 3.68% 5/28/26 | 180000 | 179515 |
| &nbsp;&nbsp; 3.69% 7/2/26 | 600000 | 596270 |
| &nbsp;&nbsp; 3.69% 7/9/26 | 1000000 | 993092 |
|  |  | **5307079** |
| **SOVEREIGN BONDS–1.49%** | **SOVEREIGN BONDS–1.49%** | **SOVEREIGN BONDS–1.49%** |
| &nbsp;&nbsp; ^Nigeria OMO Bills 0.00% <br> 1/12/27<br>NGN | 301090000 | 194115 |
|  |  | **194115** |
| **Total Short-Term Investments** <br>**(Cost $5,502,903)** | **Total Short-Term Investments** <br>**(Cost $5,502,903)** | **5501194** |

---

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

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

---

| | |
|:---|:---|
| **TOTAL INVESTMENTS–96.85% (Cost $12,357,660)** | **12641256** |
| **RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–3.15%** | **410804** |
| **NET ASSETS APPLICABLE TO 1,129,943 SHARES OUTSTANDING–100.00%** | **$13052060** |

---

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

------

---

| |
|:---|
| ΔSecurities have been classified by country of origin. |
| †Non-income producing. |
| °Principal amount shown is stated in U.S. dollars unless noted that the security is denominated in another currency. |
| φStep coupon bond. Coupon increases/decreases periodically based on predetermined schedule. Stated rate in effect at April 30, 2026. |
| ≠The rate shown is the effective yield at the time of purchase. |
| ^Zero coupon security. |

---

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

The following foreign currency exchange contracts and futures contracts were outstanding at April 30, 2026:<br>

**Foreign Currency Exchange Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to**<br> **Receive (Deliver)** | **Contracts to**<br> **Receive (Deliver)** | **In Exchange For** | **In Exchange For** | **Settlement Date** | **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| BNP | BRL | &nbsp;&nbsp; 620000 | USD | &nbsp;&nbsp; (118569)<br>| 5/5/26 | &nbsp;&nbsp; $6470 | &nbsp;&nbsp; $— |
| BNP | BRL | &nbsp;&nbsp; (620000)<br>| USD | &nbsp;&nbsp; 124283 | 5/5/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (755)<br>|
| BNP | HUF | &nbsp;&nbsp; 33875000 | USD | &nbsp;&nbsp; (102195)<br>| 5/18/26 | &nbsp;&nbsp; 6858 | &nbsp;&nbsp; — |
| BNP | KRW | &nbsp;&nbsp; 333500000 | USD | &nbsp;&nbsp; (230852)<br>| 5/26/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4322)<br>|
| BNP | KRW | &nbsp;&nbsp; 196400000 | USD | &nbsp;&nbsp; (132970)<br>| 7/10/26 | &nbsp;&nbsp; 605 | &nbsp;&nbsp; — |
| BRC | CZK | &nbsp;&nbsp; (2550000)<br>| USD | &nbsp;&nbsp; 123896 | 5/26/26 | &nbsp;&nbsp; 1123 | &nbsp;&nbsp; — |
| BRC | HUF | &nbsp;&nbsp; 9568000 | USD | &nbsp;&nbsp; (28812)<br>| 6/2/26 | &nbsp;&nbsp; 1963 | &nbsp;&nbsp; — |
| BRC | HUF | &nbsp;&nbsp; 8838000 | USD | &nbsp;&nbsp; (28481)<br>| 6/2/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (53)<br>|
| BRC | MXN | &nbsp;&nbsp; (4459000)<br>| USD | &nbsp;&nbsp; 254844 | 6/2/26 | &nbsp;&nbsp; 290 | &nbsp;&nbsp; — |
| BRC | MXN | &nbsp;&nbsp; 3984000 | USD | &nbsp;&nbsp; (227539)<br>| 6/2/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (102)<br>|
| BRC | MYR | &nbsp;&nbsp; (500000)<br>| USD | &nbsp;&nbsp; 127226 | 6/4/26 | &nbsp;&nbsp; 1140 | &nbsp;&nbsp; — |
| BRC | MYR | &nbsp;&nbsp; 500000 | USD | &nbsp;&nbsp; (127910)<br>| 6/4/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1824)<br>|
| CIBC | CZK | &nbsp;&nbsp; 2959000 | USD | &nbsp;&nbsp; (140399)<br>| 5/26/26 | &nbsp;&nbsp; 2066 | &nbsp;&nbsp; — |
| CIBC | GBP | &nbsp;&nbsp; 26000 | USD | &nbsp;&nbsp; (35297)<br>| 6/17/26 | &nbsp;&nbsp; 79 | &nbsp;&nbsp; — |
| CIBC | HUF | &nbsp;&nbsp; (40585000)<br>| USD | &nbsp;&nbsp; 126111 | 5/18/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4544)<br>|
| CIBC | HUF | &nbsp;&nbsp; 22000000 | USD | &nbsp;&nbsp; (64222)<br>| 5/18/26 | &nbsp;&nbsp; 6603 | &nbsp;&nbsp; — |
| CIBC | NOK | &nbsp;&nbsp; 289000 | USD | &nbsp;&nbsp; (30836)<br>| 6/17/26 | &nbsp;&nbsp; 340 | &nbsp;&nbsp; — |
| CIBC | PLN | &nbsp;&nbsp; 346000 | USD | &nbsp;&nbsp; (93943)<br>| 5/18/26 | &nbsp;&nbsp; 1508 | &nbsp;&nbsp; — |
| GSI | ARS | &nbsp;&nbsp; 190000000 | USD | &nbsp;&nbsp; (122660)<br>| 5/5/26 | &nbsp;&nbsp; 13298 | &nbsp;&nbsp; — |
| GSI | ARS | &nbsp;&nbsp; (190000000)<br>| USD | &nbsp;&nbsp; 133709 | 5/5/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2249)<br>|
| GSI | ARS | &nbsp;&nbsp; (190000000)<br>| USD | &nbsp;&nbsp; 137572 | 5/5/26 | &nbsp;&nbsp; 1614 | &nbsp;&nbsp; — |
| GSI | ARS | &nbsp;&nbsp; 190000000 | USD | &nbsp;&nbsp; (137572)<br>| 5/5/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1614)<br>|
| GSI | BRL | &nbsp;&nbsp; (2645000)<br>| USD | &nbsp;&nbsp; 497186 | 5/5/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (36244)<br>|
| GSI | BRL | &nbsp;&nbsp; 2645000 | USD | &nbsp;&nbsp; (530209)<br>| 5/5/26 | &nbsp;&nbsp; 3221 | &nbsp;&nbsp; — |
| GSI | CLP | &nbsp;&nbsp; 58820000 | USD | &nbsp;&nbsp; (66542)<br>| 7/20/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1168)<br>|

---

*Lincoln Inflation Plus Fund–2*

------

**Lincoln Inflation Plus Fund**

**Consolidated Schedule of Investments (continued)**

**Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to**<br> **Receive (Deliver)** | **Contracts to**<br> **Receive (Deliver)** | **In Exchange For** | **In Exchange For** | **Settlement Date** | **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| GSI | CZK | &nbsp;&nbsp; 1965000 | USD | &nbsp;&nbsp; (93631)<br>| 5/26/26 | &nbsp;&nbsp; $977 | &nbsp;&nbsp; $— |
| GSI | EGP | &nbsp;&nbsp; (14865000)<br>| USD | &nbsp;&nbsp; 262401 | 5/4/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (14206)<br>|
| GSI | EGP | &nbsp;&nbsp; 22765000 | USD | &nbsp;&nbsp; (431920)<br>| 5/4/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (8311)<br>|
| GSI | EGP | &nbsp;&nbsp; (7900000)<br>| USD | &nbsp;&nbsp; 149083 | 5/4/26 | &nbsp;&nbsp; 2080 | &nbsp;&nbsp; — |
| GSI | INR | &nbsp;&nbsp; (8880000)<br>| USD | &nbsp;&nbsp; 96112 | 6/5/26 | &nbsp;&nbsp; 2979 | &nbsp;&nbsp; — |
| GSI | INR | &nbsp;&nbsp; (26280000)<br>| USD | &nbsp;&nbsp; 276620 | 6/29/26 | &nbsp;&nbsp; 1613 | &nbsp;&nbsp; — |
| GSI | INR | &nbsp;&nbsp; (9344000)<br>| USD | &nbsp;&nbsp; 98697 | 7/17/26 | &nbsp;&nbsp; 1157 | &nbsp;&nbsp; — |
| GSI | KRW | &nbsp;&nbsp; 169300000 | USD | &nbsp;&nbsp; (115550)<br>| 7/23/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (359)<br>|
| GSI | MXN | &nbsp;&nbsp; 6475000 | USD | &nbsp;&nbsp; (365355)<br>| 5/26/26 | &nbsp;&nbsp; 4480 | &nbsp;&nbsp; — |
| GSI | MXN | &nbsp;&nbsp; 475000 | USD | &nbsp;&nbsp; (26535)<br>| 6/2/26 | &nbsp;&nbsp; 581 | &nbsp;&nbsp; — |
| GSI | MYR | &nbsp;&nbsp; 870000 | USD | &nbsp;&nbsp; (216165)<br>| 6/9/26 | &nbsp;&nbsp; 3258 | &nbsp;&nbsp; — |
| GSI | PHP | &nbsp;&nbsp; (5625000)<br>| USD | &nbsp;&nbsp; 92387 | 6/29/26 | &nbsp;&nbsp; 1001 | &nbsp;&nbsp; — |
| GSI | ZAR | &nbsp;&nbsp; (2050000)<br>| USD | &nbsp;&nbsp; 125929 | 6/4/26 | &nbsp;&nbsp; 3186 | &nbsp;&nbsp; — |
| LYD | AUD | &nbsp;&nbsp; (46000)<br>| USD | &nbsp;&nbsp; 32971 | 7/17/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (96)<br>|
| LYD | HUF | &nbsp;&nbsp; (40406000)<br>| USD | &nbsp;&nbsp; 125804 | 6/2/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4162)<br>|
| LYD | NOK | &nbsp;&nbsp; 115000 | USD | &nbsp;&nbsp; (12266)<br>| 6/12/26 | &nbsp;&nbsp; 141 | &nbsp;&nbsp; — |
| LYD | ZAR | &nbsp;&nbsp; 4080000 | USD | &nbsp;&nbsp; (245935)<br>| 5/26/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1494)<br>|
| MSC | BRL | &nbsp;&nbsp; 2025000 | USD | &nbsp;&nbsp; (380911)<br>| 5/5/26 | &nbsp;&nbsp; 27480 | &nbsp;&nbsp; — |
| MSC | BRL | &nbsp;&nbsp; (2025000)<br>| USD | &nbsp;&nbsp; 405925 | 5/5/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2466)<br>|
| MSC | CLP | &nbsp;&nbsp; 100775000 | USD | &nbsp;&nbsp; (117352)<br>| 5/5/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (5356)<br>|
| MSC | CLP | &nbsp;&nbsp; (100775000)<br>| USD | &nbsp;&nbsp; 115913 | 5/5/26 | &nbsp;&nbsp; 3917 | &nbsp;&nbsp; — |
| MSC | CLP | &nbsp;&nbsp; 100775000 | USD | &nbsp;&nbsp; (111594)<br>| 5/5/26 | &nbsp;&nbsp; 403 | &nbsp;&nbsp; — |
| MSC | CLP | &nbsp;&nbsp; (100775000)<br>| USD | &nbsp;&nbsp; 111594 | 5/5/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (403)<br>|
| MSC | CZK | &nbsp;&nbsp; (2374000)<br>| USD | &nbsp;&nbsp; 114517 | 5/26/26 | &nbsp;&nbsp; 218 | &nbsp;&nbsp; — |
| MSC | EUR | &nbsp;&nbsp; 48000 | USD | &nbsp;&nbsp; (56964)<br>| 6/17/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (504)<br>|
| MSC | HUF | &nbsp;&nbsp; 47295000 | USD | &nbsp;&nbsp; (140178)<br>| 5/18/26 | &nbsp;&nbsp; 12078 | &nbsp;&nbsp; — |
| MSC | HUF | &nbsp;&nbsp; 22000000 | USD | &nbsp;&nbsp; (71885)<br>| 6/2/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1122)<br>|
| MSC | HUF | &nbsp;&nbsp; 19400000 | USD | &nbsp;&nbsp; (63213)<br>| 7/21/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (995)<br>|
| MSC | MXN | &nbsp;&nbsp; (6475000)<br>| USD | &nbsp;&nbsp; 371984 | 5/26/26 | &nbsp;&nbsp; 2148 | &nbsp;&nbsp; — |
| MSC | MYR | &nbsp;&nbsp; (870000)<br>| USD | &nbsp;&nbsp; 220615 | 6/9/26 | &nbsp;&nbsp; 1192 | &nbsp;&nbsp; — |
| MSC | NOK | &nbsp;&nbsp; (240000)<br>| USD | &nbsp;&nbsp; 25043 | 6/12/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (849)<br>|
| MSC | NOK | &nbsp;&nbsp; 125000 | USD | &nbsp;&nbsp; (13218)<br>| 6/12/26 | &nbsp;&nbsp; 267 | &nbsp;&nbsp; — |
| MSC | NOK | &nbsp;&nbsp; (526000)<br>| USD | &nbsp;&nbsp; 54274 | 6/17/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2468)<br>|
| MSC | PLN | &nbsp;&nbsp; 385000 | USD | &nbsp;&nbsp; (108342)<br>| 5/18/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2132)<br>|
| MSC | PLN | &nbsp;&nbsp; 189000 | USD | &nbsp;&nbsp; (51043)<br>| 5/18/26 | &nbsp;&nbsp; 1096 | &nbsp;&nbsp; — |
| MSC | ZAR | &nbsp;&nbsp; (6065000)<br>| USD | &nbsp;&nbsp; 372005 | 5/26/26 | &nbsp;&nbsp; 8639 | &nbsp;&nbsp; — |
| MSC | ZAR | &nbsp;&nbsp; 1985000 | USD | &nbsp;&nbsp; (121394)<br>| 5/26/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2469)<br>|
| MSC | ZAR | &nbsp;&nbsp; 2050000 | USD | &nbsp;&nbsp; (124134)<br>| 6/4/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1391)<br>|
| RBC | EUR | &nbsp;&nbsp; (48000)<br>| USD | &nbsp;&nbsp; 55590 | 6/17/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (871)<br>|
| RBC | GBP | &nbsp;&nbsp; (26000)<br>| USD | &nbsp;&nbsp; 34711 | 6/17/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (666)<br>|
| RBC | HUF | &nbsp;&nbsp; (40585000)<br>| USD | &nbsp;&nbsp; 125197 | 5/18/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (5457)<br>|
| **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | &nbsp;&nbsp; $126069 | &nbsp;&nbsp; $(108652)<br>|

---

*Lincoln Inflation Plus Fund–3*

------

**Lincoln Inflation Plus Fund**

**Consolidated Schedule of Investments (continued)**

**Futures Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy (Sell)** | **Contracts to Buy (Sell)** | **Notional** <br>**Amount**<br>| **Notional** <br>**Cost (Proceeds)**<br>| **Expiration** <br>**Date**<br>| **Value/** <br>**Unrealized** <br>**Appreciation**<sup>1</sup> <br>| **Value/** <br>**Unrealized** <br>**Depreciation**<sup>1</sup> <br>|
| **Commodity Contracts:** | **Commodity Contracts:** | **Commodity Contracts:** | **Commodity Contracts:** | **Commodity Contracts:** | **Commodity Contracts:** | **Commodity Contracts:** |
| 16 | CBOT Corn Futures | &nbsp;&nbsp; $379800 | &nbsp;&nbsp; $374652 | &nbsp;&nbsp; 7/14/26 | &nbsp;&nbsp; $5148 | &nbsp;&nbsp; $— |
| 2 | CBOT Soybean Futures | &nbsp;&nbsp; 119550 | &nbsp;&nbsp; 117306 | &nbsp;&nbsp; 7/14/26 | &nbsp;&nbsp; 2244 | &nbsp;&nbsp; — |
| 3 | CBOT Soybean Oil Futures | &nbsp;&nbsp; 134172 | &nbsp;&nbsp; 132632 | &nbsp;&nbsp; 7/14/26 | &nbsp;&nbsp; 1540 | &nbsp;&nbsp; — |
| 3 | COMEX 1000-oz. Silver Futures | &nbsp;&nbsp; 222084 | &nbsp;&nbsp; 233202 | &nbsp;&nbsp; 7/29/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (11118)<br>|
| 2 | COMEX Copper Futures | &nbsp;&nbsp; 299025 | &nbsp;&nbsp; 290119 | &nbsp;&nbsp; 7/29/26 | &nbsp;&nbsp; 8906 | &nbsp;&nbsp; — |
| 2 | COMEX E-Micro Gold Futures | &nbsp;&nbsp; 92592 | &nbsp;&nbsp; 95928 | &nbsp;&nbsp; 6/26/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (3336)<br>|
| 4 | LME Primary Aluminum Futures | &nbsp;&nbsp; 353422 | &nbsp;&nbsp; 350782 | &nbsp;&nbsp; 5/18/26 | &nbsp;&nbsp; 2640 | &nbsp;&nbsp; — |
| (4) | LME Primary Aluminum Futures | &nbsp;&nbsp; (353422)<br>| &nbsp;&nbsp; (363963)<br>| &nbsp;&nbsp; 5/18/26 | &nbsp;&nbsp; 10541 | &nbsp;&nbsp; — |
| 7 | LME Primary Aluminum Futures | &nbsp;&nbsp; 610412 | &nbsp;&nbsp; 632953 | &nbsp;&nbsp; 7/13/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (22541)<br>|
| 4 | NYBOT CSC Cocoa Futures | &nbsp;&nbsp; 142760 | &nbsp;&nbsp; 136492 | &nbsp;&nbsp; 7/16/26 | &nbsp;&nbsp; 6268 | &nbsp;&nbsp; — |
| 26 | NYBOT CSC Number 11 World Sugar Futures | &nbsp;&nbsp; 425443 | &nbsp;&nbsp; 407359 | &nbsp;&nbsp; 6/30/26 | &nbsp;&nbsp; 18084 | &nbsp;&nbsp; — |
| 9 | NYBOT CTN Number 2 Cotton Futures | &nbsp;&nbsp; 369900 | &nbsp;&nbsp; 352815 | &nbsp;&nbsp; 7/9/26 | &nbsp;&nbsp; 17085 | &nbsp;&nbsp; — |
| 2 | NYMEX Light Sweet Crude Oil Futures | &nbsp;&nbsp; 160420 | &nbsp;&nbsp; 149948 | &nbsp;&nbsp; 11/20/26 | &nbsp;&nbsp; 10472 | &nbsp;&nbsp; — |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | &nbsp;&nbsp; $82928 | &nbsp;&nbsp; $(36995)<br>|

---

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Includes cumulative appreciation (depreciation) of from the date the contracts were opened through April 30, 2026.<br>

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

---

| |
|:---|
| **Summary of Abbreviations:** |
| ARS–Argentine Peso |
| AUD–Australian Dollar |
| BNP–BNP Paribas |
| BRC–Barclays Bank |
| BRL–Brazilian Real |
| CBOT–Chicago Board of Trade |
| CIBC–Canadian Imperial Bank of Commerce |
| CLP–Chilean Peso |
| COMEX–Commodity Exchange |
| COP–Colombia Peso |
| CZK–Czech Koruna |
| EGP–Egyptian Pound |
| ETF–Exchange-Traded Fund |
| EUR–Euro |
| GBP–British Pound Sterling |
| GSI–Goldman Sachs International |
| HUF–Hungarian Forint |
| INR–Indian Rupee |
| KRW–South Korean Won |
| LME–London Metal Exchange |
| LYD–Lloyds Bank Corporate Markets PLC |
| MSC–Morgan Stanley & Co. |
| MXN–Mexican Peso |
| MYR–Malaysian Ringgit |
| NGN–Nigerian Naira |
| NOK–Norwegian Krone |
| NYBOT–New York Board of Trade |
| NYMEX–New York Mercantile Exchange |
| PHP–Philippine Peso |
| PLN–Polish Zloty |
| RBC–Royal Bank of Canada |
| SPDR–Standard & Poor's Depositary Receipt |
| USD–United States Dollar |
| ZAR–South African Rand |

---

*Lincoln Inflation Plus Fund–4*

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-23952

- **c. CIK number of Registrant:** 0002015799

- **d. LEI of Registrant:** 25490047JKRSM3ZCKX41

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

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

  - **City:** Fort Wayne

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46802

  - **Telephone number:** 484-583-6302

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

- **a. Name of Series:** Lincoln Inflation Plus Fund

- **b. EDGAR series identifier (if any):** S000085533

- **c. LEI of Series:** 2549004QBLWWTIIO1B82

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $13322320.74

**Total Liabilities:** $266813.71

**Net Assets:** $13055507.03

**Amount of Assets Invested in Other Investment Companies:** $3224981.17

**Cash Not Reported:** $359849.35

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -0.96000000 | **1-Year:** -13.04000000 | **5-Year:** -119.02000000 | **10-Year:** -154.65000000 | **30-Year:** -2.33000000

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

- **3-Month:** -5.43000000 | **1-Year:** -11.34000000 | **5-Year:** -42.81000000 | **10-Year:** -25.97000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250824 | 3.02%                | 2.84%                | 0.57%                |
| Class ID C000250823 | 3.04%                | 2.86%                | 0.59%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $33021.53                | $231887.96                                 |
| Month 2  | $208929.24               | $-391358.50                                |
| Month 3  | $301516.18               | $-176801.44                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Barclays Bank PLC                                   | PURCHASED USD / SOLD MXN                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $290.48       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED USD / SOLD NOK                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $-849.21      | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OR Royalties Inc                                    | OR Royalties Inc                                           | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |        830 | NS      | $30635.30     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                             | Hungary Government Bond                                    | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   92700000 | PA      | $319898.71    | 2.45%             | 2035-10-24      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                             | Mexican Bonos                                              | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    3600000 | PA      | $188689.58    | 1.45%             | 2034-11-23      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD EGP                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $2080.29      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD PLN                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $-0.34        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD INR                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $2979.21      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS                               | Bonos de la Tesoreria de la Republica en pesos             | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  180000000 | PA      | $196561.50    | 1.51%             | 2030-09-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Lloyds Bank Corporate Markets PLC                   | PURCHASED USD / SOLD AUD                                   | CUSIP: 000000000<br>LEI: 213800MBWEIJDM5CU638 | N/A              | DFE              |  | US        |          1 | NC      | $-96.26       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED PLN / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | PL        |          1 | NC      | $1096.31      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED BRL / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | BR        |          1 | NC      | $27480.22     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED CZK / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | CZ        |          1 | NC      | $976.58       | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD ARS                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $-2249.17     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED MYR / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MY        |          1 | NC      | $3257.51      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Gold Inc                                      | Royal Gold Inc                                             | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |        120 | NS      | $28005.60     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                            | Brazil Notas do Tesouro Nacional Serie F                   | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    4490000 | PA      | $771379.06    | 5.91%             | 2035-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| United States Treasury                              | U.S. Treasury Bills                                        | CUSIP: 912797TF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |     600000 | PA      | $596269.67    | 4.57%             | 2026-07-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED ZAR / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | ZA        |          1 | NC      | $-1391.31     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED MXN / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |          1 | NC      | $581.23       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                      | PURCHASED KRW / SOLD USD                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | KR        |          1 | NC      | $604.94       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD INR                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $1156.65      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures U.S., Inc.                              | COTTON NO.2 FUTR JUL26                                     | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |          6 | NC      | $15158.28     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                      | PURCHASED KRW / SOLD USD                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | KR        |          1 | NC      | $-4322.38     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                | PURCHASED USD / SOLD EUR                                   | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | US        |          1 | NC      | $-870.73      | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                              | U.S. Treasury Bills                                        | CUSIP: 912797TU1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    1250000 | PA      | $1246030.55   | 9.54%             | 2026-06-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                              | U.S. Treasury Bills                                        | CUSIP: 912797SW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    1030000 | PA      | $1027230.52   | 7.87%             | 2026-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Mercantile Exchange                        | WTI CRUDE FUTURE DEC26                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          2 | NC      | $10472.16     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED ARS / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | AR        |          1 | NC      | $13298.05     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                  | PURCHASED NOK / SOLD USD                                   | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | N/A              | DFE              |  | NO        |          1 | NC      | $339.77       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                      | PURCHASED BRL / SOLD USD                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | BR        |          1 | NC      | $6469.51      | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD INR                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $1092.14      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                  | PURCHASED PLN / SOLD USD                                   | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | N/A              | DFE              |  | PL        |          1 | NC      | $1507.88      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| abrdn Bloomberg All Commodity Strategy K-1 Free ETF | abrdn Bloomberg All Commodity Strategy K-1 Free ETF        | CUSIP: 003261104<br>LEI: 549300PWXO8WGDSMS419 | Long             | EC               | RF                | US        |      53100 | NS      | $1343961.00   | 10.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Imperial Bank of Commerce                  | PURCHASED CZK / SOLD USD                                   | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | N/A              | DFE              |  | CZ        |          1 | NC      | $2066.07      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| London Metal Exchange                               | LME PRI ALUM FUTR MAY26                                    | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          4 | NC      | $2639.68      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                              | U.S. Treasury Bills                                        | CUSIP: 912797SX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |     750000 | PA      | $747458.64    | 5.73%             | 2026-06-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                             | Mexican Bonos                                              | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    7810000 | PA      | $413616.81    | 3.17%             | 2038-11-18      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Commodities Exchange Center                         | MICRO GOLD JUN26                                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          2 | NC      | $-3335.60     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                                | PURCHASED USD / SOLD GBP                                   | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | US        |          1 | NC      | $-665.50      | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                   | PURCHASED MYR / SOLD USD                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MY        |          1 | NC      | $-1823.51     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE Futures U.S., Inc.                              | SUGAR 11 (WORLD) JUL26                                     | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |         26 | NC      | $18083.85     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Imperial Bank of Commerce                  | PURCHASED HUF / SOLD USD                                   | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | N/A              | DFE              |  | HU        |          1 | NC      | $6602.49      | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT                               | Philippine Government Bond                                 | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    5890000 | PA      | $91713.42     | 0.70%             | 2035-04-28      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | CORN FUTURE JUL26                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |          5 | NC      | $5733.65      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED HUF / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | HU        |          1 | NC      | $-1121.67     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED MXN / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |          1 | NC      | $2595.08      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Global Advisors                        | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |       1946 | NS      | $1945.69      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank PLC                                   | PURCHASED HUF / SOLD USD                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | HU        |          1 | NC      | $-53.29       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                      | PURCHASED HUF / SOLD USD                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | HU        |          1 | NC      | $6857.83      | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED EGP / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | EG        |          1 | NC      | $-4396.53     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED CLP / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | CL        |          1 | NC      | $-5355.42     | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED NOK / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | NO        |          1 | NC      | $267.31       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED USD / SOLD CLP                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $3916.52      | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Bank Corporate Markets PLC                   | PURCHASED NOK / SOLD USD                                   | CUSIP: 000000000<br>LEI: 213800MBWEIJDM5CU638 | N/A              | DFE              |  | NO        |          1 | NC      | $140.98       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD INR                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $520.70       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                              | U.S. Treasury Bonds                                        | CUSIP: 912810UR7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     130000 | PA      | $125165.63    | 0.96%             | 2056-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                | Colombian TES                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 1810000000 | PA      | $310190.63    | 2.38%             | 2036-07-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds   | Argentina Republic Government International Bonds          | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     170000 | PA      | $126650.00    | 0.97%             | 2035-07-09      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                  | PURCHASED GBP / SOLD USD                                   | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | N/A              | DFE              |  | GB        |          1 | NC      | $79.31        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                | Colombian TES                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  482700000 | PA      | $127874.39    | 0.98%             | 2033-02-09      | Fixed         | 13.25%                | No            |                  2 | On Loan: No      |
| Lloyds Bank Corporate Markets PLC                   | PURCHASED USD / SOLD HUF                                   | CUSIP: 000000000<br>LEI: 213800MBWEIJDM5CU638 | N/A              | DFE              |  | US        |          1 | NC      | $-4161.76     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD EGP                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $-14205.84    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL                                 | Egypt Treasury Bills                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |   17000000 | PA      | $286501.16    | 2.19%             | 2026-10-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD PHP                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $1001.39      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                            | Republic of South Africa Government Bond                   | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    5350000 | PA      | $303307.35    | 2.32%             | 2048-02-28      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                | PURCHASED USD / SOLD HUF                                   | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | US        |          1 | NC      | $-5457.11     | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED USD / SOLD MYR                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $1191.84      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED ZAR / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | ZA        |          1 | NC      | $-2468.76     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                            | Republic of South Africa Government Bond                   | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    4500000 | PA      | $259831.31    | 1.99%             | 2037-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD BRL                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $-36243.69    | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED USD / SOLD MXN                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $2148.21      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED USD / SOLD NOK                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $-1677.41     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                            | Brazil Notas do Tesouro Nacional Serie B                   | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      70000 | PA      | $61986.33     | 0.47%             | 2035-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | SOYBEAN FUTURE JUL26                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |          2 | NC      | $2243.46      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank PLC                                   | PURCHASED USD / SOLD MYR                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $1140.02      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                             | European Bank for Reconstruction & Development             | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |   11500000 | PA      | $116629.78    | 0.89%             | 2033-08-10      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED USD / SOLD ZAR                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $3185.75      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ASIAN INFRASTRUCTURE INV                            | Asian Infrastructure Investment Bank/The                   | CUSIP: 000000000<br>LEI: 25490065OSV2524LCR32 | Long             | DBT              | NUSS              | XX        |   14500000 | PA      | $140976.41    | 1.08%             | 2031-12-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                   | PURCHASED MXN / SOLD USD                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MX        |          1 | NC      | $-102.34      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                   | PURCHASED HUF / SOLD USD                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | HU        |          1 | NC      | $1963.49      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED MXN / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |          1 | NC      | $1885.19      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED EUR / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | XX        |          1 | NC      | $-503.95      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED PLN / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | PL        |          1 | NC      | $-2132.37     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Predictive Discovery Ltd                            | Predictive Discovery Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      50400 | NS      | $33943.12     | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                              | U.S. Treasury Bills                                        | CUSIP: 912797RF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    1000000 | PA      | $993092.33    | 7.61%             | 2026-07-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                                 | Malaysia Government Bond                                   | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     900000 | PA      | $230899.32    | 1.77%             | 2034-07-05      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED EGP / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | EG        |          1 | NC      | $-3914.37     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                  | PURCHASED USD / SOLD HUF                                   | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | N/A              | DFE              |  | US        |          1 | NC      | $-4543.79     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                             | Hungary Government Bond                                    | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   30500000 | PA      | $99517.99     | 0.76%             | 2037-09-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Franco-Nevada Corp                                  | Franco-Nevada Corp                                         | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |        130 | NS      | $29944.20     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Norsk Hydro ASA                                     | Norsk Hydro ASA                                            | CUSIP: 000000000<br>LEI: 549300N1SDN71ZZ8BO45 | Long             | EC               | CORP              | NO        |       3100 | NS      | $34213.20     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                               | LME PRI ALUM FUTR MAY26                                    | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         -4 | NC      | $10540.68     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED USD / SOLD ZAR                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $8638.72      | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                              | U.S. Treasury Bills                                        | CUSIP: 912797QN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |     200000 | PA      | $199739.78    | 1.53%             | 2026-05-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                               | LME PRI ALUM FUTR JUL26                                    | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          7 | NC      | $-22540.56    | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| EUROPEAN BK RECON & DEV                             | European Bank for Reconstruction & Development             | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |   20500000 | PA      | $196719.61    | 1.51%             | 2036-10-03      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wheaton Precious Metals Corp                        | Wheaton Precious Metals Corp                               | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |        230 | NS      | $29085.80     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED HUF / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | HU        |          1 | NC      | $-995.25      | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SPDR Gold MiniShares Trust                          | SPDR Gold MiniShares Trust                                 | CUSIP: 98149E303<br>LEI: 5493002IEEMEY6LRJ932 | Long             | EC               | RF                | US        |       6510 | NS      | $594818.70    | 4.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED CLP / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | CL        |          1 | NC      | $-1168.27     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Commodities Exchange Center                         | COPPER FUTURE JUL26                                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          2 | NC      | $8906.32      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank PLC                                   | PURCHASED USD / SOLD CZK                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $1123.18      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Bank Corporate Markets PLC                   | PURCHASED ZAR / SOLD USD                                   | CUSIP: 000000000<br>LEI: 213800MBWEIJDM5CU638 | N/A              | DFE              |  | ZA        |          1 | NC      | $-254.72      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                              | U.S. Treasury Bills                                        | CUSIP: 912797TE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |     500000 | PA      | $497257.64    | 3.81%             | 2026-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Alcoa Corp                                          | Alcoa Corp                                                 | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |        500 | NS      | $31895.00     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Lloyds Bank Corporate Markets PLC                   | PURCHASED ZAR / SOLD USD                                   | CUSIP: 000000000<br>LEI: 213800MBWEIJDM5CU638 | N/A              | DFE              |  | ZA        |          1 | NC      | $-1239.28     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                             | Romania Government Bond                                    | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     800000 | PA      | $178342.40    | 1.37%             | 2034-07-31      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED USD / SOLD NOK                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $-790.69      | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                | Colombian TES                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  550000000 | PA      | $112447.61    | 0.86%             | 2042-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                         | PURCHASED KRW / SOLD USD                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | KR        |          1 | NC      | $-359.03      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Commodities Exchange Center                         | MICRO SILVER JUL26                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          3 | NC      | $-11117.67    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED HUF / SOLD USD                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | HU        |          1 | NC      | $12078.12     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria                     | Nigeria OMO Bill                                           | CUSIP: 000000000<br>LEI: 549300G1JG004Y3K8S97 | Long             | STIV             | NUSS              | NG        |  301090000 | PA      | $194114.56    | 1.49%             | 2027-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                                 | Malaysia Government Bond                                   | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     400000 | PA      | $102737.66    | 0.79%             | 2029-08-15      | Fixed         | 3.89%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED USD / SOLD CZK                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $218.18       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares Silver Trust                                | iShares Silver Trust                                       | CUSIP: 46428Q109<br>LEI: 549300K2C2CG14B0ZA09 | Long             | EC               | RF                | US        |       3300 | NS      | $219978.00    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-22

**Name of Applicant:** Lincoln Funds Trust

**Signature:** James Hoffmayer

**Name of Signer:** James Hoffmayer

**Title:** VP