# EDGAR Filing Document

**Accession Number:** 0000810573
**File Stem:** 0001410368-26-055433
**Filing Date:** 2026-5
**Character Count:** 203165
**Document Hash:** a69b1e401592b000de92ccc71fdf3657
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-055433.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001410368-26-055433

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEUTSCHE DWS VARIABLE SERIES II
- **CENTRAL INDEX KEY:** 0000810573

**ORGANIZATION NAME:**
- **EIN:** 810105002
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05002
- **FILM NUMBER:** 261034462

**BUSINESS ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225
- **BUSINESS PHONE:** 212-454-4500

**MAIL ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DEUTSCHE VARIABLE SERIES II
- **DATE OF NAME CHANGE:** 20140811

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DWS VARIABLE SERIES II
- **DATE OF NAME CHANGE:** 20060303

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCUDDER VARIABLE SERIES II
- **DATE OF NAME CHANGE:** 20010501

## Series and Classes Contracts Data

### DWS Global Income Builder VIP (Series ID: S000006265)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017223 | Class A      |  |

## Nport-Ex

Investment Portfolio**as of March 31, 2026 (Unaudited)** 

**DWS Global Income Builder VIP** 

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value ($)** |
| **Common Stocks 37.0%** | **Common Stocks 37.0%** |  |
| **Communication Services 3.1%** | **Communication Services 3.1%** |  |
| **Diversified Telecommunication Services 0.0%** | **Diversified Telecommunication Services 0.0%** |  |
| Singapore Telecommunications Ltd. | 13200 | &nbsp;&nbsp; **50959** |
| **Entertainment 0.8%** | **Entertainment 0.8%** |  |
| NetEase, Inc. (ADR)  | 7035 | &nbsp;&nbsp; 787498 |
| Walt Disney Co.  | 1300 | &nbsp;&nbsp; 125294 |
|  |  | &nbsp;&nbsp; **912792** |
| **Interactive Media & Services 2.1%** | **Interactive Media & Services 2.1%** |  |
| Alphabet, Inc. "A"  | 3426 | &nbsp;&nbsp; 985180 |
| Alphabet, Inc. "C"  | 3180 | &nbsp;&nbsp; 912215 |
| Baidu, Inc. (ADR)\*  | 800 | &nbsp;&nbsp; 89136 |
| Tencent Holdings Ltd. (ADR)  | 4936 | &nbsp;&nbsp; 312054 |
|  |  | &nbsp;&nbsp; **2298585** |
| **Media 0.1%** | **Media 0.1%** |  |
| Omnicom Group, Inc. | 900 | &nbsp;&nbsp; **67779** |
| **Wireless Telecommunication Services 0.1%** | **Wireless Telecommunication Services 0.1%** |  |
| America Movil SAB de CV (ADR) | 4000 | &nbsp;&nbsp; **101920** |
| **Consumer Discretionary 3.5%** | **Consumer Discretionary 3.5%** |  |
| **Automobiles 1.0%** | **Automobiles 1.0%** |  |
| Mahindra & Mahindra Ltd. (GDR) REG S  | 16459 | &nbsp;&nbsp; 543147 |
| Toyota Motor Corp.  | 27000 | &nbsp;&nbsp; 552530 |
|  |  | &nbsp;&nbsp; **1095677** |
| **Broadline Retail 1.0%** | **Broadline Retail 1.0%** |  |
| Amazon.com, Inc.\*  | 4800 | &nbsp;&nbsp; 999696 |
| Dollarama, Inc.  | 300 | &nbsp;&nbsp; 36819 |
| Next PLC  | 294 | &nbsp;&nbsp; 49597 |
|  |  | &nbsp;&nbsp; **1086112** |
| **Hotels, Restaurants & Leisure 1.5%** | **Hotels, Restaurants & Leisure 1.5%** |  |
| Amadeus IT Group SA  | 427 | &nbsp;&nbsp; 24339 |
| Booking Holdings, Inc.  | 170 | &nbsp;&nbsp; 715754 |
| Carnival Corp.  | 10883 | &nbsp;&nbsp; 281652 |
| InterContinental Hotels Group PLC  | 1014 | &nbsp;&nbsp; 133344 |
| Restaurant Brands International, Inc.  | 6400 | &nbsp;&nbsp; 473594 |
|  |  | &nbsp;&nbsp; **1628683** |
| **Consumer Staples 2.0%** | **Consumer Staples 2.0%** |  |
| **Beverages 0.9%** | **Beverages 0.9%** |  |
| Keurig Dr Pepper, Inc. | 35900 | &nbsp;&nbsp; **945247** |
| **Consumer Staples Distribution & Retail 0.2%** | **Consumer Staples Distribution & Retail 0.2%** |  |
| Alimentation Couche-Tard, Inc.  | 2700 | &nbsp;&nbsp; 153041 |
| Costco Wholesale Corp.  | 117 | &nbsp;&nbsp; 116582 |
|  |  | &nbsp;&nbsp; **269623** |

---

------

---

| | | |
|:---|:---|:---|
| **Tobacco 0.9%** | **Tobacco 0.9%** |  |
| Japan Tobacco, Inc. | 25700 | &nbsp;&nbsp; **982960** |
| **Energy 1.8%** | **Energy 1.8%** |  |
| **Oil, Gas & Consumable Fuels 1.8%** | **Oil, Gas & Consumable Fuels 1.8%** |  |
| Eni SpA  | 927 | &nbsp;&nbsp; 26308 |
| Marathon Petroleum Corp.  | 700 | &nbsp;&nbsp; 170926 |
| Phillips 66  | 8900 | &nbsp;&nbsp; 1621402 |
| Texas Pacific Land Corp.  | 274 | &nbsp;&nbsp; 130029 |
|  |  | &nbsp;&nbsp; **1948665** |
| **Financials 6.4%** | **Financials 6.4%** |  |
| **Banks 1.2%** | **Banks 1.2%** |  |
| Bank Hapoalim BM  | 3793 | &nbsp;&nbsp; 88692 |
| DNB Bank ASA  | 1959 | &nbsp;&nbsp; 61383 |
| Erste Group Bank AG  | 203 | &nbsp;&nbsp; 21978 |
| HSBC Holdings PLC  | 22911 | &nbsp;&nbsp; 373838 |
| Itau Unibanco Holding SA (ADR) (Preferred)  | 26300 | &nbsp;&nbsp; 220394 |
| Nordea Bank Abp  | 5888 | &nbsp;&nbsp; 100944 |
| Oversea-Chinese Banking Corp. Ltd.  | 6500 | &nbsp;&nbsp; 111591 |
| Skandinaviska Enskilda Banken AB "A" (a) | 16197 | &nbsp;&nbsp; 297964 |
| State Bank of India REG S, (GDR)  | 219 | &nbsp;&nbsp; 23170 |
|  |  | &nbsp;&nbsp; **1299954** |
| **Capital Markets 0.7%** | **Capital Markets 0.7%** |  |
| Ameriprise Financial, Inc.  | 665 | &nbsp;&nbsp; 295526 |
| Charles Schwab Corp.  | 3900 | &nbsp;&nbsp; 366522 |
| Hong Kong Exchanges & Clearing Ltd.  | 3300 | &nbsp;&nbsp; 166097 |
|  |  | &nbsp;&nbsp; **828145** |
| **Insurance 4.5%** | **Insurance 4.5%** |  |
| Allstate Corp.  | 4500 | &nbsp;&nbsp; 933030 |
| Arch Capital Group Ltd.\*  | 1000 | &nbsp;&nbsp; 95990 |
| Chubb Ltd.  | 1780 | &nbsp;&nbsp; 580155 |
| Hannover Rueck SE  | 2341 | &nbsp;&nbsp; 733038 |
| QBE Insurance Group Ltd.  | 36715 | &nbsp;&nbsp; 540124 |
| Sompo Holdings, Inc.  | 16800 | &nbsp;&nbsp; 651005 |
| Travelers Companies, Inc.  | 4605 | &nbsp;&nbsp; 1343187 |
|  |  | &nbsp;&nbsp; **4876529** |
| **Health Care 3.3%** | **Health Care 3.3%** |  |
| **Biotechnology 1.4%** | **Biotechnology 1.4%** |  |
| Argenx SE\*  | 126 | &nbsp;&nbsp; 91739 |
| Regeneron Pharmaceuticals, Inc.  | 1911 | &nbsp;&nbsp; 1476515 |
|  |  | &nbsp;&nbsp; **1568254** |
| **Health Care Equipment & Supplies 0.1%** | **Health Care Equipment & Supplies 0.1%** |  |
| Intuitive Surgical, Inc.\* | 145 | &nbsp;&nbsp; **66844** |
| **Pharmaceuticals 1.8%** | **Pharmaceuticals 1.8%** |  |
| Eli Lilly & Co.  | 1102 | &nbsp;&nbsp; 1013586 |
| GSK PLC  | 23315 | &nbsp;&nbsp; 639588 |
| Roche Holding AG  | 137 | &nbsp;&nbsp; 54125 |
| UCB SA  | 72 | &nbsp;&nbsp; 21770 |
| Zoetis, Inc.  | 1800 | &nbsp;&nbsp; 212778 |
|  |  | &nbsp;&nbsp; **1941847** |

---

------

---

| | | |
|:---|:---|:---|
| **Industrials 4.1%** | **Industrials 4.1%** |  |
| **Aerospace & Defense 0.3%** | **Aerospace & Defense 0.3%** |  |
| GE Aerospace | 1160 | &nbsp;&nbsp; **329173** |
| **Building Products 0.8%** | **Building Products 0.8%** |  |
| Trane Technologies PLC | 1984 | &nbsp;&nbsp; **826812** |
| **Construction & Engineering 0.3%** | **Construction & Engineering 0.3%** |  |
| Ferrovial SE | 4712 | &nbsp;&nbsp; **306781** |
| **Electrical Equipment 1.3%** | **Electrical Equipment 1.3%** |  |
| ABB Ltd. (Registered)  | 9466 | &nbsp;&nbsp; 764956 |
| Prysmian SpA  | 2430 | &nbsp;&nbsp; 284471 |
| Siemens Energy AG  | 1057 | &nbsp;&nbsp; 179124 |
| Vestas Wind Systems A/S  | 6087 | &nbsp;&nbsp; 180062 |
|  |  | &nbsp;&nbsp; **1408613** |
| **Industrial Conglomerates 0.0%** | **Industrial Conglomerates 0.0%** |  |
| CK Hutchison Holdings Ltd. | 2500 | &nbsp;&nbsp; **19181** |
| **Machinery 1.2%** | **Machinery 1.2%** |  |
| Dover Corp.  | 3549 | &nbsp;&nbsp; 739789 |
| Parker-Hannifin Corp.  | 635 | &nbsp;&nbsp; 568477 |
| Volvo AB "B"  | 687 | &nbsp;&nbsp; 22630 |
|  |  | &nbsp;&nbsp; **1330896** |
| **Passenger Airlines 0.0%** | **Passenger Airlines 0.0%** |  |
| Ryanair Holdings PLC | 1280 | &nbsp;&nbsp; **35817** |
| **Professional Services 0.2%** | **Professional Services 0.2%** |  |
| Experian PLC  | 800 | &nbsp;&nbsp; 27717 |
| Leidos Holdings, Inc.  | 1100 | &nbsp;&nbsp; 171072 |
|  |  | &nbsp;&nbsp; **198789** |
| **Trading Companies & Distributors 0.0%** | **Trading Companies & Distributors 0.0%** |  |
| AerCap Holdings NV | 100 | &nbsp;&nbsp; **13718** |
| **Information Technology 9.6%** | **Information Technology 9.6%** |  |
| **Communications Equipment 0.6%** | **Communications Equipment 0.6%** |  |
| Arista Networks, Inc.\* | 5513 | &nbsp;&nbsp; **676886** |
| **Electronic Equipment, Instruments & Components 1.4%** | **Electronic Equipment, Instruments & Components 1.4%** |  |
| Amphenol Corp. "A"  | 11377 | &nbsp;&nbsp; 1437484 |
| Hon Hai Precision Industry Co., Ltd. (GDR) REG S  | 5619 | &nbsp;&nbsp; 67315 |
|  |  | &nbsp;&nbsp; **1504799** |
| **IT Services 0.1%** | **IT Services 0.1%** |  |
| Cognizant Technology Solutions Corp. "A" | 1071 | &nbsp;&nbsp; **65706** |
| **Semiconductors & Semiconductor Equipment 4.4%** | **Semiconductors & Semiconductor Equipment 4.4%** |  |
| ASE Technology Holding Co., Ltd. (ADR)  | 46100 | &nbsp;&nbsp; 999448 |
| ASML Holding NV  | 345 | &nbsp;&nbsp; 458230 |
| Broadcom, Inc.  | 2898 | &nbsp;&nbsp; 896960 |
| NVIDIA Corp.  | 11086 | &nbsp;&nbsp; 1933399 |
| Renesas Electronics Corp.  | 30500 | &nbsp;&nbsp; 436482 |
|  |  | &nbsp;&nbsp; **4724519** |
| **Software 1.6%** | **Software 1.6%** |  |
| Adobe, Inc.\*  | 1167 | &nbsp;&nbsp; 283675 |
| Autodesk, Inc.\*  | 2388 | &nbsp;&nbsp; 571687 |

---

------

---

| | | |
|:---|:---|:---|
| Intuit, Inc.  | 366 | &nbsp;&nbsp; 158251 |
| Microsoft Corp.  | 1853 | &nbsp;&nbsp; 685925 |
| PTC, Inc.\*  | 500 | &nbsp;&nbsp; 71245 |
|  |  | &nbsp;&nbsp; **1770783** |
| **Technology Hardware, Storage & Peripherals 1.5%** | **Technology Hardware, Storage & Peripherals 1.5%** |  |
| Dell Technologies, Inc. "C"  | 5400 | &nbsp;&nbsp; 886302 |
| Samsung Electronics Co., Ltd. (GDR) REG S  | 253 | &nbsp;&nbsp; 717508 |
| Samsung Electronics Co., Ltd. (GDR) (Preferred) REG S  | 30 | &nbsp;&nbsp; 58200 |
|  |  | &nbsp;&nbsp; **1662010** |
| **Materials 1.5%** | **Materials 1.5%** |  |
| **Metals & Mining 1.5%** | **Metals & Mining 1.5%** |  |
| Agnico Eagle Mines Ltd.  | 2300 | &nbsp;&nbsp; 466862 |
| BHP Group Ltd.  | 2756 | &nbsp;&nbsp; 97638 |
| Gold Fields Ltd. (ADR)  | 3496 | &nbsp;&nbsp; 158718 |
| Nucor Corp.  | 4040 | &nbsp;&nbsp; 683164 |
| Rio Tinto PLC  | 1465 | &nbsp;&nbsp; 135376 |
| Teck Resources Ltd. "B"  | 1300 | &nbsp;&nbsp; 67378 |
|  |  | &nbsp;&nbsp; **1609136** |
| **Real Estate 0.7%** | **Real Estate 0.7%** |  |
| **Specialized REITs 0.7%** | **Specialized REITs 0.7%** |  |
| Equinix, Inc.  | 507 | &nbsp;&nbsp; 496982 |
| VICI Properties, Inc.  | 9800 | &nbsp;&nbsp; 267736 |
|  |  | &nbsp;&nbsp; **764718** |
| **Utilities 1.0%** | **Utilities 1.0%** |  |
| **Electric Utilities 0.1%** | **Electric Utilities 0.1%** |  |
| Edison International (a) | 1526 | &nbsp;&nbsp; 111673 |
| Fortis, Inc.  | 400 | &nbsp;&nbsp; 22316 |
|  |  | &nbsp;&nbsp; **133989** |
| **Multi-Utilities 0.9%** | **Multi-Utilities 0.9%** |  |
| Engie SA | 30187 | &nbsp;&nbsp; **975397** |
| **Total Common Stocks** (Cost $37,489,424) | **Total Common Stocks** (Cost $37,489,424) | &nbsp;&nbsp; **40328298** |
| **Preferred Stocks 2.0%** | **Preferred Stocks 2.0%** |  |
| **Financials 1.3%** | **Financials 1.3%** |  |
| &nbsp;&nbsp;&nbsp; AGNC Investment Corp., Series C (REIT), 3 mo. USD Term SOFR + 5.373%, <br> 9.055% (b)<br>| 14427 | &nbsp;&nbsp; 363127 |
| Fifth Third Bancorp., Series I, 3 mo. USD Term SOFR + 3.972%, 7.973% (b) | 10000 | &nbsp;&nbsp; 251700 |
| KeyCorp., Series E, 6.125%  | 10000 | &nbsp;&nbsp; 247000 |
| Morgan Stanley, Series K, 5.85%  | 10000 | &nbsp;&nbsp; 233700 |
| Wells Fargo & Co., Series Y, 5.625%  | 15000 | &nbsp;&nbsp; 352950 |
|  |  | &nbsp;&nbsp; **1448477** |
| **Real Estate 0.7%** | **Real Estate 0.7%** |  |
| Kimco Realty Corp., Series L (REIT), 5.125%  | 15000 | &nbsp;&nbsp; 290550 |
| Prologis, Inc., Series Q (REIT), 8.54%  | 164 | &nbsp;&nbsp; 8570 |
| Simon Property Group, Inc., Series J (REIT), 8.375%  | 8000 | &nbsp;&nbsp; 426720 |
|  |  | &nbsp;&nbsp; **725840** |
| **Total Preferred Stocks** (Cost $2,574,794) | **Total Preferred Stocks** (Cost $2,574,794) | &nbsp;&nbsp; **2174317** |

---

------

---

| | | |
|:---|:---|:---|
| **Rights 0.0%** | **Rights 0.0%** |  |
| **Health Care**  | **Health Care**  |  |
| ABIOMED, Inc.,\* (c) (Cost $204) | 200 | &nbsp;&nbsp; **204** |
| **Warrants 0.0%** | **Warrants 0.0%** |  |
| **Materials**  | **Materials**  |  |
| Hercules Trust II, Expiration Date 3/31/2029\* (c) (Cost $30,284) | 170 | &nbsp;&nbsp; **2190** |

---

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

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount ($) (d)**<br>| **Value ($)** |
| **Corporate Bonds 21.5%** | **Corporate Bonds 21.5%** |  |
| **Communication Services 1.1%** | **Communication Services 1.1%** |  |
| AT&T, Inc., 3.55%, 9/15/2055 | 110000 | &nbsp;&nbsp; 71540 |
| Charter Communications Operating LLC: |  |  |
| &nbsp;&nbsp;&nbsp; 5.85%, 12/1/2035  | 186000 | &nbsp;&nbsp; 182947 |
| &nbsp;&nbsp;&nbsp; 6.384%, 10/23/2035  | 100000 | &nbsp;&nbsp; 101548 |
| Discovery Global Holdings, Inc., 4.279%, 3/15/2032 | 175000 | &nbsp;&nbsp; 154875 |
| Paramount Global: |  |  |
| &nbsp;&nbsp;&nbsp; 4.2%, 6/1/2029  | 225000 | &nbsp;&nbsp; 214856 |
| &nbsp;&nbsp;&nbsp; 4.6%, 1/15/2045  | 60000 | &nbsp;&nbsp; 35840 |
| &nbsp;&nbsp;&nbsp; 4.95%, 1/15/2031  | 150000 | &nbsp;&nbsp; 138947 |
| T-Mobile U.S.A., Inc., 6.0%, 6/15/2054 | 80000 | &nbsp;&nbsp; 79201 |
| Videotron Ltd., 144A, 5.7%, 1/15/2035 | 185000 | &nbsp;&nbsp; 186740 |
|  |  | &nbsp;&nbsp; **1166494** |
| **Consumer Discretionary 1.3%** | **Consumer Discretionary 1.3%** |  |
| Amazon.com, Inc., 5.8%, 3/13/2056 | 200000 | &nbsp;&nbsp; 199839 |
| Ford Motor Credit Co. LLC: |  |  |
| &nbsp;&nbsp;&nbsp; 4.125%, 8/17/2027  | 200000 | &nbsp;&nbsp; 197409 |
| &nbsp;&nbsp;&nbsp; 4.97%, 4/6/2029  | 200000 | &nbsp;&nbsp; 197533 |
| &nbsp;&nbsp;&nbsp; 7.35%, 3/6/2030  | 200000 | &nbsp;&nbsp; 210986 |
| General Motors Co.: |  |  |
| &nbsp;&nbsp;&nbsp; 5.625%, 4/15/2030  | 212000 | &nbsp;&nbsp; 217969 |
| &nbsp;&nbsp;&nbsp; 6.25%, 4/15/2035  | 100000 | &nbsp;&nbsp; 103989 |
| General Motors Financial Co., Inc., 5.45%, 1/8/2036 | 30000 | &nbsp;&nbsp; 29551 |
| Marriott International, Inc., 5.5%, 4/15/2037 | 210000 | &nbsp;&nbsp; 209081 |
|  |  | &nbsp;&nbsp; **1366357** |
| **Consumer Staples 0.7%** | **Consumer Staples 0.7%** |  |
| JBS NV, 6.75%, 3/15/2034 | 200000 | &nbsp;&nbsp; 219970 |
| Maple Parent Holdings Corp.: |  |  |
| &nbsp;&nbsp;&nbsp; 144A, 5.05%, 3/26/2031  | 355000 | &nbsp;&nbsp; 353499 |
| &nbsp;&nbsp;&nbsp; 144A, 6.625%, 3/26/2056  | 150000 | &nbsp;&nbsp; 148534 |
|  |  | &nbsp;&nbsp; **722003** |
| **Energy 5.7%** | **Energy 5.7%** |  |
| BP Capital Markets PLC, 6.125%, Perpetual | 300000 | &nbsp;&nbsp; 302591 |
| Buckeye Partners LP, 144A, 6.75%, 2/1/2030 | 450000 | &nbsp;&nbsp; 464405 |
| Cheniere Energy, Inc., 4.625%, 10/15/2028 | 320000 | &nbsp;&nbsp; 319191 |
| Columbia Pipelines Holding Co. LLC, 144A, 5.681%, 1/15/2034 | 100000 | &nbsp;&nbsp; 102322 |
| DT Midstream, Inc., 144A, 4.125%, 6/15/2029 | 400000 | &nbsp;&nbsp; 391584 |
| Ecopetrol SA, 7.75%, 2/1/2032 (a) | 300000 | &nbsp;&nbsp; 302960 |
| Enbridge, Inc., Series 20-A, 5.75%, 7/15/2080 | 200000 | &nbsp;&nbsp; 199605 |

---

------

---

| | | |
|:---|:---|:---|
| Energy Transfer LP: |  |  |
| &nbsp;&nbsp;&nbsp; 144A, 7.375%, 2/1/2031  | 85000 | &nbsp;&nbsp; 88163 |
| &nbsp;&nbsp;&nbsp; 8.0%, 5/15/2054  | 175000 | &nbsp;&nbsp; 183294 |
| EQT Corp., 5.75%, 2/1/2034 | 225000 | &nbsp;&nbsp; 231960 |
| Expand Energy Corp., 5.375%, 2/1/2029 | 205000 | &nbsp;&nbsp; 204818 |
| HF Sinclair Corp.: |  |  |
| &nbsp;&nbsp;&nbsp; 5.5%, 9/1/2032  | 156000 | &nbsp;&nbsp; 156356 |
| &nbsp;&nbsp;&nbsp; 5.75%, 1/15/2031  | 156000 | &nbsp;&nbsp; 159392 |
| Kinetik Holdings LP, 144A, 6.625%, 12/15/2028 | 179000 | &nbsp;&nbsp; 182029 |
| NuStar Logistics LP, 6.375%, 10/1/2030 | 565000 | &nbsp;&nbsp; 584208 |
| Occidental Petroleum Corp., 8.875%, 7/15/2030 | 300000 | &nbsp;&nbsp; 341483 |
| ONEOK, Inc., 144A, 6.5%, 9/1/2030 | 280000 | &nbsp;&nbsp; 296386 |
| Petrobras Global Finance BV: |  |  |
| &nbsp;&nbsp;&nbsp; 5.125%, 9/10/2030  | 225000 | &nbsp;&nbsp; 220466 |
| &nbsp;&nbsp;&nbsp; 6.25%, 1/10/2036  | 169000 | &nbsp;&nbsp; 165086 |
| Phillips 66 Co.: |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.875%, 3/15/2056  | 200000 | &nbsp;&nbsp; 196952 |
| &nbsp;&nbsp;&nbsp; Series B, 6.2%, 3/15/2056  | 63000 | &nbsp;&nbsp; 62717 |
| Plains All American Pipeline LP, 4.7%, 1/15/2031 | 65000 | &nbsp;&nbsp; 64802 |
| Saudi Arabian Oil Co.: |  |  |
| &nbsp;&nbsp;&nbsp; 144A, 5.0%, 2/2/2036  | 300000 | &nbsp;&nbsp; 288121 |
| &nbsp;&nbsp;&nbsp; 144A, 6.375%, 6/2/2055  | 210000 | &nbsp;&nbsp; 208626 |
| Targa Resources Corp., 6.05%, 5/15/2056 | 185000 | &nbsp;&nbsp; 178857 |
| Targa Resources Partners LP, 5.0%, 1/15/2028 | 200000 | &nbsp;&nbsp; 199883 |
| Western Midstream Operating LP, 5.45%, 11/15/2034 | 92000 | &nbsp;&nbsp; 91100 |
|  |  | &nbsp;&nbsp; **6187357** |
| **Financials 6.1%** | **Financials 6.1%** |  |
| Acrisure LLC, 144A, 6.75%, 7/1/2032 | 358000 | &nbsp;&nbsp; 344977 |
| AerCap Ireland Capital DAC, 6.95%, 3/10/2055 | 200000 | &nbsp;&nbsp; 204695 |
| Aircastle Ltd., 144A, 5.75%, 10/1/2031 | 150000 | &nbsp;&nbsp; 153588 |
| Blackstone Private Credit Fund: |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 4/1/2030  | 98000 | &nbsp;&nbsp; 93385 |
| &nbsp;&nbsp;&nbsp; 6.0%, 11/22/2034  | 150000 | &nbsp;&nbsp; 140228 |
| BNP Paribas SA, 144A, 8.5%, Perpetual | 280000 | &nbsp;&nbsp; 291662 |
| Capital One Financial Corp., Series M, 3.95%, Perpetual (a) | 350000 | &nbsp;&nbsp; 344946 |
| Charles Schwab Corp.: |  |  |
| &nbsp;&nbsp;&nbsp; Series H, 4.0%, Perpetual  | 200000 | &nbsp;&nbsp; 185007 |
| &nbsp;&nbsp;&nbsp; Series F, 5.0%, Perpetual (a) | 469000 | &nbsp;&nbsp; 458982 |
| Citigroup, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp; 6.02%, 1/24/2036  | 190000 | &nbsp;&nbsp; 193976 |
| &nbsp;&nbsp;&nbsp; Series FF, 6.95%, Perpetual  | 175000 | &nbsp;&nbsp; 176300 |
| First Citizens BancShares, Inc., 5.6%, 9/5/2035 | 240000 | &nbsp;&nbsp; 234570 |
| HSBC Holdings PLC, 6.95%, Perpetual | 300000 | &nbsp;&nbsp; 299346 |
| JPMorgan Chase & Co.: |  |  |
| &nbsp;&nbsp;&nbsp; Series OO, 6.5%, Perpetual  | 230000 | &nbsp;&nbsp; 236011 |
| &nbsp;&nbsp;&nbsp; Series NN, 6.875%, Perpetual  | 100000 | &nbsp;&nbsp; 103750 |
| M&T Bank Corp., 5.385%, 1/16/2036 | 230000 | &nbsp;&nbsp; 228106 |
| Morgan Stanley, 5.664%, 4/17/2036 | 140000 | &nbsp;&nbsp; 143397 |
| Navient Corp., 5.5%, 3/15/2029 (a) | 286000 | &nbsp;&nbsp; 262134 |
| Nordea Bank Abp, 144A, 6.3%, Perpetual (a) | 300000 | &nbsp;&nbsp; 298514 |
| Royal Bank of Canada, 6.35%, 11/24/2084 (a) | 250000 | &nbsp;&nbsp; 238500 |
| Societe Generale SA, 144A, 6.221%, 6/15/2033 (a) | 225000 | &nbsp;&nbsp; 231762 |
| State Street Corp., Series K, 6.45%, Perpetual | 250000 | &nbsp;&nbsp; 253649 |
| Sumitomo Mitsui Financial Group, Inc., 6.45%, Perpetual | 200000 | &nbsp;&nbsp; 194717 |
| Synchrony Financial: |  |  |
| &nbsp;&nbsp;&nbsp; 4.947%, 2/25/2032  | 300000 | &nbsp;&nbsp; 291151 |
| &nbsp;&nbsp;&nbsp; 5.45%, 3/6/2031  | 200000 | &nbsp;&nbsp; 199834 |

---

------

---

| | | |
|:---|:---|:---|
| The Goldman Sachs Group, Inc., Series Y, 6.125%, Perpetual (a) | 229000 | &nbsp;&nbsp; 227808 |
| Truist Financial Corp., Series N, 6.669%, Perpetual | 300000 | &nbsp;&nbsp; 299472 |
| UBS Group AG, 144A, 4.375%, Perpetual | 200000 | &nbsp;&nbsp; 176440 |
| Wells Fargo & Co., 6.85%, Perpetual (a) | 150000 | &nbsp;&nbsp; 155491 |
|  |  | &nbsp;&nbsp; **6662398** |
| **Health Care 0.4%** | **Health Care 0.4%** |  |
| Charles River Laboratories International, Inc., 144A, 3.75%, 3/15/2029 | 150000 | &nbsp;&nbsp; 142144 |
| CVS Health Corp.: |  |  |
| &nbsp;&nbsp;&nbsp; 5.45%, 9/15/2035  | 100000 | &nbsp;&nbsp; 100389 |
| &nbsp;&nbsp;&nbsp; 6.2%, 9/15/2055  | 170000 | &nbsp;&nbsp; 168386 |
|  |  | &nbsp;&nbsp; **410919** |
| **Industrials 1.1%** | **Industrials 1.1%** |  |
| Boeing Co., 6.858%, 5/1/2054 | 230000 | &nbsp;&nbsp; 253132 |
| Delta Air Lines, Inc., 3.75%, 10/28/2029 | 135000 | &nbsp;&nbsp; 129949 |
| Stanley Black & Decker, Inc., 6.707%, 3/15/2060 | 450000 | &nbsp;&nbsp; 439485 |
| United Airlines Pass-Through Trust, "A", Series 2023-1, 5.8%, 7/15/2037 | 273188 | &nbsp;&nbsp; 281187 |
| United Rentals North America, Inc., 144A, 6.0%, 12/15/2029 | 110000 | &nbsp;&nbsp; 111837 |
|  |  | &nbsp;&nbsp; **1215590** |
| **Information Technology 0.7%** | **Information Technology 0.7%** |  |
| AppLovin Corp., 5.95%, 12/1/2054 | 83000 | &nbsp;&nbsp; 75392 |
| Foundry JV Holdco LLC, 144A, 6.1%, 1/25/2036 | 200000 | &nbsp;&nbsp; 206025 |
| Global Payments, Inc., 5.55%, 11/15/2035 | 210000 | &nbsp;&nbsp; 202364 |
| Oracle Corp.: |  |  |
| &nbsp;&nbsp;&nbsp; 5.375%, 9/27/2054  | 245000 | &nbsp;&nbsp; 189513 |
| &nbsp;&nbsp;&nbsp; 5.5%, 9/27/2064  | 75000 | &nbsp;&nbsp; 57436 |
| &nbsp;&nbsp;&nbsp; 5.95%, 9/26/2055  | 96000 | &nbsp;&nbsp; 80762 |
|  |  | &nbsp;&nbsp; **811492** |
| **Materials 1.0%** | **Materials 1.0%** |  |
| Anglo American Capital PLC, 144A, 5.25%, 3/19/2036 | 250000 | &nbsp;&nbsp; 244445 |
| Celanese U.S. Holdings LLC, 6.85%, 11/15/2028 | 32000 | &nbsp;&nbsp; 33278 |
| Corp. Nacional del Cobre de Chile, 144A, 5.95%, 1/8/2034 | 200000 | &nbsp;&nbsp; 204493 |
| Dow Chemical Co., 5.65%, 3/15/2036 (a) | 160000 | &nbsp;&nbsp; 158499 |
| First Quantum Minerals Ltd., 144A, 7.25%, 2/15/2034 | 285000 | &nbsp;&nbsp; 290141 |
| Olin Corp., 5.0%, 2/1/2030 (a) | 200000 | &nbsp;&nbsp; 191577 |
|  |  | &nbsp;&nbsp; **1122433** |
| **Real Estate 0.5%** | **Real Estate 0.5%** |  |
| CBRE Services, Inc., 5.5%, 6/15/2035 | 90000 | &nbsp;&nbsp; 90829 |
| Iron Mountain, Inc., 144A, (REIT), 6.25%, 1/15/2033 (a) | 500000 | &nbsp;&nbsp; 498401 |
|  |  | &nbsp;&nbsp; **589230** |
| **Utilities 2.9%** | **Utilities 2.9%** |  |
| Alpha Generation LLC, 144A, 6.25%, 1/15/2034 | 429000 | &nbsp;&nbsp; 421425 |
| CMS Energy Corp., 3.75%, 12/1/2050 | 350000 | &nbsp;&nbsp; 319292 |
| Dominion Energy, Inc., 6.625%, 5/15/2055 | 187000 | &nbsp;&nbsp; 189863 |
| Exelon Corp., 6.5%, 3/15/2055 | 133000 | &nbsp;&nbsp; 135602 |
| NextEra Energy Capital Holdings, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp; 6.375%, 8/15/2055  | 350000 | &nbsp;&nbsp; 356563 |
| &nbsp;&nbsp;&nbsp; 6.75%, 6/15/2054  | 98000 | &nbsp;&nbsp; 101384 |
| NRG Energy, Inc., 144A, 5.407%, 10/15/2035 | 101000 | &nbsp;&nbsp; 99073 |
| Pacific Gas and Electric Co., 5.9%, 10/1/2054 | 52000 | &nbsp;&nbsp; 48456 |
| PG&E Corp., 7.375%, 3/15/2055 | 100000 | &nbsp;&nbsp; 100641 |

---

------

---

| | | |
|:---|:---|:---|
| Puget Energy, Inc., 144A, 7.0%, 9/15/2056 | 400000 | &nbsp;&nbsp; 396952 |
| Sempra, 4.125%, 4/1/2052 | 390000 | &nbsp;&nbsp; 379279 |
| Southern Co., Series 21-A, 3.75%, 9/15/2051 | 215000 | &nbsp;&nbsp; 212861 |
| Southwestern Electric Power Co., 5.2%, 4/1/2036 | 148000 | &nbsp;&nbsp; 145536 |
| Southwestern Public Service Co., 6.0%, 6/1/2054 | 200000 | &nbsp;&nbsp; 201481 |
|  |  | &nbsp;&nbsp; **3108408** |
| **Total Corporate Bonds** (Cost $23,427,476) | **Total Corporate Bonds** (Cost $23,427,476) | &nbsp;&nbsp; **23362681** |
| **Asset-Backed 8.0%** | **Asset-Backed 8.0%** | **Asset-Backed 8.0%** |
| **Automobile Receivables 1.9%** | **Automobile Receivables 1.9%** |  |
| &nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC, "C", Series 2022-5A, 144A, 6.24%, <br> 4/20/2027<br>| 33334 | &nbsp;&nbsp; 33359 |
| CarMax Select Receivables Trust, "C", Series 2026-A, 4.43%, 5/17/2032 | 200000 | &nbsp;&nbsp; 198650 |
| CPS Auto Receivables Trust, "C", Series 2023-C, 144A, 6.27%, 10/15/2029 | 62511 | &nbsp;&nbsp; 62948 |
| Exeter Automobile Receivables Trust, "C", Series 2025-3A, 5.09%, 10/15/2031 | 59000 | &nbsp;&nbsp; 59323 |
| &nbsp;&nbsp;&nbsp; Foursight Capital Automobile Receivables Trust, "C", Series 2023-2, 144A, 6.21%, <br> 4/16/2029<br>| 250000 | &nbsp;&nbsp; 253945 |
| Hertz Vehicle Financing III LLC, "C", Series 2023-1A, 144A, 6.91%, 6/25/2027 | 170000 | &nbsp;&nbsp; 170324 |
| &nbsp;&nbsp;&nbsp; Huntington Bank Auto Credit-Linked Notes, "B1", Series 2026-1, 144A, 4.503%, <br> 2/20/2034<br>| 400000 | &nbsp;&nbsp; 398246 |
| Santander Drive Auto Receivables Trust, "C", Series 2023-3, 5.77%, 11/15/2030 | 100000 | &nbsp;&nbsp; 101443 |
| Securitized Term Auto Receivables Trust: |  |  |
| &nbsp;&nbsp;&nbsp; "C", Series 2026-A, 144A, 4.431%, 3/25/2033  | 183736 | &nbsp;&nbsp; 183377 |
| &nbsp;&nbsp;&nbsp; "C", Series 2025-A, 144A, 5.185%, 7/25/2031  | 27312 | &nbsp;&nbsp; 27528 |
| U.S. Bank NA, "B1", Series 2026-RVM1, 144A, 4.959%, 12/25/2046 | 250000 | &nbsp;&nbsp; 248837 |
| United Auto Credit Securitization Trust: |  |  |
| &nbsp;&nbsp;&nbsp; "B", Series 2026-1, 144A, 4.63%, 5/10/2029  | 200000 | &nbsp;&nbsp; 199697 |
| &nbsp;&nbsp;&nbsp; "C", Series 2026-1, 144A, 5.06%, 6/10/2031  | 150000 | &nbsp;&nbsp; 149592 |
|  |  | &nbsp;&nbsp; **2087269** |
| **Credit Card Receivables 0.4%** | **Credit Card Receivables 0.4%** |  |
| &nbsp;&nbsp;&nbsp; Mercury Financial Credit Card Master Trust, "A", Series 2024-2A, 144A, 6.56%, <br> 7/20/2029<br>| 200000 | &nbsp;&nbsp; 200327 |
| Mission Lane Credit Card Master Trust, "A", Series 2024-B, 144A, 5.88%, 1/15/2030 | 250000 | &nbsp;&nbsp; 250406 |
|  |  | &nbsp;&nbsp; **450733** |
| **Home Equity Loans 0.3%** | **Home Equity Loans 0.3%** |  |
| RCKT Mortgage Trust: |  |  |
| &nbsp;&nbsp;&nbsp; "A1A", Series 2024-CES7, 144A, 5.158%, 10/25/2044  | 152957 | &nbsp;&nbsp; 152766 |
| &nbsp;&nbsp;&nbsp; "A1B", Series 2024-CES9, 144A, 5.683%, 12/25/2044  | 71698 | &nbsp;&nbsp; 71980 |
| Towd Point Mortgage Trust, "A1", Series 2025-CRM1, 144A, 5.799%, 1/25/2065 | 74421 | &nbsp;&nbsp; 74911 |
|  |  | &nbsp;&nbsp; **299657** |
| **Miscellaneous 5.4%** | **Miscellaneous 5.4%** |  |
| &nbsp;&nbsp;&nbsp; Allegro CLO V-S Ltd., "B1", Series 2024-2A, 144A, 3 mo. USD Term SOFR + 1.9%, <br> 5.568% (b), 7/24/2037<br>| 500000 | &nbsp;&nbsp; 500750 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXIV Ltd., "A1AL", Series 2016-24A, 144A, 3 mo. USD Term SOFR + <br> 1.212%, 4.879% (b), 10/20/2030<br>| 57420 | &nbsp;&nbsp; 57442 |
| &nbsp;&nbsp;&nbsp; ARES LXXVII CLO Ltd., "A2", Series 2025-77A, 144A, 3 mo. USD Term SOFR + <br> 1.6%, 5.272% (b), 7/15/2038<br>| 250000 | &nbsp;&nbsp; 248929 |
| &nbsp;&nbsp;&nbsp; ARES XLI CLO Ltd., "BR", Series 2016-41A, 144A, 3 mo. USD Term SOFR + <br> 1.712%, 5.384% (b), 4/15/2034<br>| 500000 | &nbsp;&nbsp; 500019 |
| Cloud Capital Holdco LP, "A2", Series 2024-1A, 144A, 5.781%, 11/22/2049 | 150000 | &nbsp;&nbsp; 150013 |
| Compass Datacenters Issuer III LLC, "A2", Series 2025-3A, 144A, 5.286%, 7/25/2050 | 84000 | &nbsp;&nbsp; 83175 |
| HINNT LLC: |  |  |
| &nbsp;&nbsp;&nbsp; "B", Series 2025-B, 144A, 4.75%, 5/15/2045  | 217388 | &nbsp;&nbsp; 216348 |
| &nbsp;&nbsp;&nbsp; "B", Series 2024-A, 144A, 5.84%, 3/15/2043  | 42069 | &nbsp;&nbsp; 42646 |

---

------

---

| | | |
|:---|:---|:---|
| HPEFS Equipment Trust, "C", Series 2025-2A, 144A, 4.41%, 11/22/2032 | 100000 | &nbsp;&nbsp; 99392 |
| Jersey Mike's Funding LLC, "A2", Series 2024-1A, 144A, 5.636%, 2/15/2055 | 118800 | &nbsp;&nbsp; 120144 |
| MVW LLC, "B", Series 2025-2A, 144A, 4.72%, 10/20/2044 | 139599 | &nbsp;&nbsp; 137513 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman CLO XVII Ltd., "AR3", Series 2014-17A, 144A, 3 mo. USD Term <br> SOFR + 1.4%, 5.069% (b), 7/22/2038<br>| 250000 | &nbsp;&nbsp; 250084 |
| &nbsp;&nbsp;&nbsp; Octagon 63 Ltd., "A2", Series 2024-2A, 144A, 3 mo. USD Term SOFR + 1.71%, <br> 5.378% (b), 7/20/2037<br>| 350000 | &nbsp;&nbsp; 348680 |
| &nbsp;&nbsp;&nbsp; Palmer Square CLO Ltd., "BR3", Series 2020-3A, 144A, 3 mo. USD Term SOFR + <br> 1.95%, 5.603% (b), 11/15/2036<br>| 250000 | &nbsp;&nbsp; 248267 |
| &nbsp;&nbsp;&nbsp; Pikes Peak CLO Ltd., "BR", Series 2023-14A, 144A, 3 mo. USD Term SOFR + 1.75%, <br> 5.418% (b), 7/20/2038<br>| 250000 | &nbsp;&nbsp; 250498 |
| &nbsp;&nbsp;&nbsp; Rad CLO 23 Ltd., "A1", Series 2024-23A, 144A, 3 mo. USD Term SOFR + 1.6%, <br> 5.268% (b), 4/20/2037<br>| 500000 | &nbsp;&nbsp; 500031 |
| &nbsp;&nbsp;&nbsp; Regatta 34 Funding Ltd., "A2", Series 2025-3A, 144A, 3 mo. USD Term SOFR + <br> 1.75%, 5.418% (b), 7/20/2038<br>| 250000 | &nbsp;&nbsp; 249100 |
| &nbsp;&nbsp;&nbsp; Sculptor CLO XXVI Ltd., "CR", Series 26A, 144A, 3 mo. USD Term SOFR + 2.2%, <br> 5.868% (b), 1/20/2038<br>| 250000 | &nbsp;&nbsp; 248208 |
| SERVPRO Master Issuer LLC, "A2", Series 2025-1A, 144A, 5.525%, 10/25/2055 | 249375 | &nbsp;&nbsp; 246609 |
| &nbsp;&nbsp;&nbsp; Sixth Street CLO XIV Ltd., "A2R2", Series 2019-14A, 144A, 3 mo. USD Term SOFR + <br> 1.4%, 5.07% (b), 1/20/2038<br>| 400000 | &nbsp;&nbsp; 398596 |
| Switch ABS Issuer LLC: |  |  |
| &nbsp;&nbsp;&nbsp; "A2", Series 2024-2A, 144A, 5.436%, 6/25/2054  | 100000 | &nbsp;&nbsp; 98024 |
| &nbsp;&nbsp;&nbsp; "A2", Series 2024-1A, 144A, 6.28%, 3/25/2054  | 200000 | &nbsp;&nbsp; 201878 |
| Taco Bell Funding LLC, "A2II", Series 2025-1A, 144A, 5.049%, 8/25/2055 | 62000 | &nbsp;&nbsp; 60550 |
| &nbsp;&nbsp;&nbsp; Texas Debt Capital CLO Ltd., "A2R", Series 2023-1A, 144A, 3 mo. USD Term SOFR + <br> 1.55%, 5.218% (b), 7/20/2038<br>| 300000 | &nbsp;&nbsp; 298736 |
| Wendy's Funding LLC, "A2I", Series 2025-1A, 144A, 5.422%, 12/15/2055 | 249375 | &nbsp;&nbsp; 246831 |
| Wingstop Funding LLC, "A2", Series 2024-1A, 144A, 5.858%, 12/5/2054 | 100000 | &nbsp;&nbsp; 101557 |
|  |  | &nbsp;&nbsp; **5904020** |
| **Total Asset-Backed** (Cost $8,749,251) | **Total Asset-Backed** (Cost $8,749,251) | &nbsp;&nbsp; **8741679** |
| **Mortgage-Backed Securities Pass-Throughs 3.5%** | **Mortgage-Backed Securities Pass-Throughs 3.5%** |  |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp.: <br>6.0%, with various maturities from 3/1/2038 until 1/1/2055 <br>| 446079 | &nbsp;&nbsp; 458608 |
| Federal National Mortgage Association: |  |  |
| &nbsp;&nbsp;&nbsp; 4.5%, 9/1/2035  | 2146 | &nbsp;&nbsp; 2155 |
| &nbsp;&nbsp;&nbsp; 5.0%, 4/1/2056, TBA  | 400000 | &nbsp;&nbsp; 394352 |
| &nbsp;&nbsp;&nbsp; 6.0%, 2/1/2055  | 447994 | &nbsp;&nbsp; 460102 |
| Government National Mortgage Association, 5.5%, 4/1/2056, TBA | 2500000 | &nbsp;&nbsp; 2514825 |
| **Total Mortgage-Backed Securities Pass-Throughs** (Cost $3,825,414) | **Total Mortgage-Backed Securities Pass-Throughs** (Cost $3,825,414) | &nbsp;&nbsp; **3830042** |
| **Commercial Mortgage-Backed Securities 2.4%** | **Commercial Mortgage-Backed Securities 2.4%** |  |
| 20 Times Square Trust, "C", Series 2018-20TS, 144A, 3.1% (b), 5/15/2035 | 200000 | &nbsp;&nbsp; 187500 |
| BAHA Trust, "A", Series 2024-MAR, 144A, 5.574% (b), 12/10/2041 | 169000 | &nbsp;&nbsp; 172446 |
| BX Trust: |  |  |
| &nbsp;&nbsp;&nbsp; "D", Series 2019-OC11, 144A, 3.944% (b), 12/9/2041  | 150000 | &nbsp;&nbsp; 141801 |
| &nbsp;&nbsp;&nbsp; "B", Series 2025-ARIA, 144A, 5.177%, 12/13/2042  | 100000 | &nbsp;&nbsp; 100074 |
| BXP Trust, "B", Series 2021-601L, 144A, 2.775% (b), 1/15/2044 | 250000 | &nbsp;&nbsp; 215632 |
| IRV Trust, "C", Series 2025-200P, 144A, 5.73% (b), 3/14/2047 | 127000 | &nbsp;&nbsp; 125742 |
| JPMorgan Chase Commercial Mortgage Securities Trust: |  |  |
| &nbsp;&nbsp;&nbsp; "A", Series 2021-1MEM, 144A, 2.516%, 10/9/2042  | 250000 | &nbsp;&nbsp; 209793 |
| &nbsp;&nbsp;&nbsp; "A", Series 2016-NINE, 144A, 2.854% (b), 9/6/2038  | 187000 | &nbsp;&nbsp; 185707 |
| &nbsp;&nbsp;&nbsp; "A", Series 2019-OSB, 144A, 3.397%, 6/5/2039  | 250000 | &nbsp;&nbsp; 234462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "A", Series 2018-PHH, 144A, 1 mo. USD Term SOFR + 1.257%, 4.93% (b), <br> 6/15/2035 <br>| 387634 | &nbsp;&nbsp; 251970 |
| &nbsp;&nbsp;&nbsp; JW Commercial Mortgage Trust, "B", Series 2024-MRCO, 144A, 1 mo. USD Term <br> SOFR + 1.941%, 5.613% (b), 6/15/2039<br>| 190000 | &nbsp;&nbsp; 190000 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; KIND Trust, "A", Series 2021-KIND, 144A, 1 mo. USD Term SOFR + 1.064%, 4.74% <br> (b), 8/15/2038<br>|  | 99172 | &nbsp;&nbsp; 98676 |
| ROCK Trust, "A", Series 2024-CNTR, 144A, 5.388%, 11/13/2041 |  | 159000 | &nbsp;&nbsp; 161637 |
| &nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, "A", Series 2025-DATA, 144A, 1 mo. USD Term <br> SOFR + 1.443%, 5.115% (b), 2/15/2042<br>|  | 200000 | &nbsp;&nbsp; 197500 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, "A", Series 2026-1250B, 144A, 4.833%, <br> 3/10/2041<br>|  | 150000 | &nbsp;&nbsp; 148556 |
| **Total Commercial Mortgage-Backed Securities** (Cost $2,594,840) | **Total Commercial Mortgage-Backed Securities** (Cost $2,594,840) | **Total Commercial Mortgage-Backed Securities** (Cost $2,594,840) | &nbsp;&nbsp; **2621496** |
| **Collateralized Mortgage Obligations 2.1%** | **Collateralized Mortgage Obligations 2.1%** | **Collateralized Mortgage Obligations 2.1%** | **Collateralized Mortgage Obligations 2.1%** |
| Federal National Mortgage Association: |  |  |  |
| &nbsp;&nbsp;&nbsp; "AO", Series 2023-53, Principal Only, Zero Coupon, 11/25/2053  |  | 290251 | &nbsp;&nbsp; 247070 |
| &nbsp;&nbsp;&nbsp; "FE", Series 2024-87, 30 day USD SOFR Average + 1.85%, 5.512% (b), 12/25/2054  |  | 362791 | &nbsp;&nbsp; 368164 |
| &nbsp;&nbsp;&nbsp; "I", Series 2003-84, Interest Only, 6.0%, 9/25/2033  |  | 26296 | &nbsp;&nbsp; 3472 |
| &nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, "M2", Series 2019-DNA2, <br> 144A, 30 day USD SOFR Average + 2.564%, 6.226% (b), 3/25/2049<br>|  | 104767 | &nbsp;&nbsp; 106755 |
| Government National Mortgage Association: |  |  |  |
| &nbsp;&nbsp;&nbsp; "QI", Series 2021-225, Interest Only, 2.5%, 12/20/2051  |  | 1313827 | &nbsp;&nbsp; 172376 |
| &nbsp;&nbsp;&nbsp; "AZ", Series 2023-120, 5.5%, 8/20/2053  |  | 238408 | &nbsp;&nbsp; 240972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "SG", Series 2025-60, 14.875% minus (2.5 x 30 day USD SOFR Average), 5.693% <br> (b), 4/20/2055 <br>|  | 401175 | &nbsp;&nbsp; 387888 |
| JPMorgan Mortgage Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "A11", Series 2024-6, 144A, 30 day USD SOFR Average + 1.25%, 4.912% (b), <br> 12/25/2054 <br>|  | 65874 | &nbsp;&nbsp; 65992 |
| &nbsp;&nbsp;&nbsp; "A1", Series 2025-DSC1, 144A, 5.577% (b), 9/25/2065  |  | 179119 | &nbsp;&nbsp; 179894 |
| Sequoia Mortgage Trust, "A3", Series 2024-INV1, 144A, 5.5%, 10/25/2054 |  | 309928 | &nbsp;&nbsp; 308763 |
| &nbsp;&nbsp;&nbsp; Western Alliance Bank, "M1", Series 2021-CL2, 144A, 30 day USD SOFR Average + <br> 3.15%, 6.812% (b), 7/25/2059<br>|  | 205780 | &nbsp;&nbsp; 220153 |
| **Total Collateralized Mortgage Obligations** (Cost $2,245,753) | **Total Collateralized Mortgage Obligations** (Cost $2,245,753) | **Total Collateralized Mortgage Obligations** (Cost $2,245,753) | &nbsp;&nbsp; **2301499** |
| **Government & Agency Obligations 15.3%** | **Government & Agency Obligations 15.3%** | **Government & Agency Obligations 15.3%** | **Government & Agency Obligations 15.3%** |
| **Sovereign Bonds 4.0%** | **Sovereign Bonds 4.0%** | **Sovereign Bonds 4.0%** |  |
| African Development Bank, 5.875%, Perpetual |  | 200000 | &nbsp;&nbsp; 194792 |
| Brazilian Government International Bond, 6.0%, 10/20/2033 |  | 200000 | &nbsp;&nbsp; 200560 |
| Colombia Government International Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.0%, 9/19/2032  | EUR | 755000 | &nbsp;&nbsp; 820830 |
| &nbsp;&nbsp;&nbsp; 6.125%, 1/21/2031  |  | 205000 | &nbsp;&nbsp; 201412 |
| Eagle Funding Luxco SARL, 144A, 5.5%, 8/17/2030 |  | 400000 | &nbsp;&nbsp; 402100 |
| Hungary Government Bond, 3.25%, 10/22/2031 | HUF | 220000000 | &nbsp;&nbsp; 545778 |
| Mexico Cetes, Zero Coupon, 1/21/2027 | MXN | 22000000 | &nbsp;&nbsp; 1157425 |
| Mexico Government International Bond, 5.625%, 2/9/2034 |  | 863000 | &nbsp;&nbsp; 844014 |
|  |  |  | &nbsp;&nbsp; **4366911** |
| **U.S. Treasury Obligations 11.3%** | **U.S. Treasury Obligations 11.3%** | **U.S. Treasury Obligations 11.3%** |  |
| U.S. Treasury Bills, 3.613% (e), 8/6/2026 (f) |  | 3900000 | &nbsp;&nbsp; 3850611 |
| U.S. Treasury Bonds, 4.625%, 2/15/2055 |  | 270800 | &nbsp;&nbsp; 258286 |
| U.S. Treasury Notes: |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.875%, 7/31/2027  |  | 5976900 | &nbsp;&nbsp; 5979235 |
| &nbsp;&nbsp;&nbsp; 3.875%, 8/31/2032  |  | 250000 | &nbsp;&nbsp; 246865 |
| &nbsp;&nbsp;&nbsp; 4.0%, 3/31/2030  |  | 875600 | &nbsp;&nbsp; 878747 |
| &nbsp;&nbsp;&nbsp; 4.25%, 8/15/2035  |  | 1104100 | &nbsp;&nbsp; 1099959 |
|  |  |  | &nbsp;&nbsp; **12313703** |
| **Total Government & Agency Obligations** (Cost $16,899,340) | **Total Government & Agency Obligations** (Cost $16,899,340) | **Total Government & Agency Obligations** (Cost $16,899,340) | &nbsp;&nbsp; **16680614** |

---

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

------

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value ($)** |
| **Exchange-Traded Funds 2.8%** | **Exchange-Traded Funds 2.8%** | **Exchange-Traded Funds 2.8%** |
| VanEck JPMorgan EM Local Currency Bond ETF (Cost $3,080,691) | 119225 | &nbsp;&nbsp; **2993740** |
| **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** |
| &nbsp;&nbsp;&nbsp; DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional <br> Shares", 3.55% (g) (h) (Cost $1,943,074)<br>| 1943074 | &nbsp;&nbsp; **1943074** |
| **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** |
| DWS Central Cash Management Government Fund, 3.66% (g) (Cost $10,349,601) | 10349601 | &nbsp;&nbsp; **10349601** |

---

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

---

| | | |
|:---|:---|:---|
|  | **% of** <br>**Net Assets**<br>| **Value ($)** |
| **Total Investment Portfolio** (Cost $113,210,146) | 105.9 | &nbsp;&nbsp; **115329435** |
| **Other Assets and Liabilities, Net**  | (5.9)<br>| &nbsp;&nbsp; **(6461089)**<br>|
| **Net Assets** | 100.0 | &nbsp;&nbsp; **108868346** |

---

*For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.*

*A summary of the Fund's transactions with affiliated investments during the period ended March 31, 2026 are as follows:* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value ($) at** <br>**12/31/2025**<br>| &nbsp;&nbsp; **Purchases** <br>**Cost ($)**<br>| &nbsp;&nbsp; **Sales** <br>**Proceeds ($)**<br>| &nbsp;&nbsp; **Net Realized** <br>**Gain/** <br>**(Loss) ($)**<br>| &nbsp;&nbsp; **Net Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation) ($)**<br>| **Income ($)** | &nbsp;&nbsp; **Capital Gain** <br>**Distributions ($)**<br>| &nbsp;&nbsp; **Number** <br>**of Shares** <br>**at** <br>**3/31/2026**<br>| &nbsp;&nbsp; **Value ($) at** <br>**3/31/2026**<br>|
| **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** | **Securities Lending Collateral 1.8%** |
| DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (g) (h) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (g) (h) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (g) (h) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (g) (h) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (g) (h) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (g) (h) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (g) (h) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (g) (h) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (g) (h) |
| 5395304  | —  | 3,452,230 (i) | —  | —  | 4599  | —  | 1943074  | 1943074  |
| **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** | **Cash Equivalents 9.5%** |
| DWS Central Cash Management Government Fund, 3.66% (g) | DWS Central Cash Management Government Fund, 3.66% (g) | DWS Central Cash Management Government Fund, 3.66% (g) | DWS Central Cash Management Government Fund, 3.66% (g) | DWS Central Cash Management Government Fund, 3.66% (g) | DWS Central Cash Management Government Fund, 3.66% (g) | DWS Central Cash Management Government Fund, 3.66% (g) | DWS Central Cash Management Government Fund, 3.66% (g) | DWS Central Cash Management Government Fund, 3.66% (g) |
| 12060994  | 11229814  | 12941207  | —  | —  | 110214  | —  | 10349601  | 10349601  |
| **17456298** | **11229814** | **16393437** | **—** | **—** | **114813** | **—** | **12292675** | **12292675** |

---

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

*\** *Non-income producing security.* 

*(a)* *All or a portion of these securities were on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that* *are also on loan. The value of securities loaned at March 31, 2026 amounted to $1,899,696, which is 1.7% of net assets.* 

*(b)* *Variable or floating rate security. These securities are shown at their current rate as of March 31, 2026. For securities based on a* *published reference rate and spread, the reference rate and spread are indicated within the description above. Certain variable* *rate securities are not based on a published reference rate and spread but adjust periodically based on current market conditions,* *prepayment of underlying positions and/or other variables. Securities with a floor or ceiling feature are disclosed at the inherent* *rate, where applicable.* 

*(c)* *Investment was valued using significant unobservable inputs.*

*(d)* *Principal amount stated in U.S. dollars unless otherwise noted.*

*(e)* *Annualized yield at time of purchase; not a coupon rate.*

*(f)* *At March 31, 2026, this security has been pledged, in whole or in part, to cover initial margin requirements for open futures* *contracts.* 

*(g)* *Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at* *period end.* 

*(h)* *Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates.*

*(i)* *Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period* *ended March 31, 2026.* 

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

------

---

| |
|:---|
| *144A: Security exempt from registration under Rule 144A under the Securities Act of 1933. These securities may be resold in* <br> *transactions exempt from registration, normally to qualified institutional buyers.*<br>|
| *ADR: American Depositary Receipt* |
| *CLO: Collateralized Loan Obligation* |
| *GDR: Global Depositary Receipt* |
| *Interest Only: Interest Only (IO) bonds represent the "interest only" portion of payments on a pool of underlying mortgages or* <br> *mortgage-backed securities. IO securities are subject to prepayment risk of the pool of underlying mortgages.*<br>|
| *MSCI: Morgan Stanley Capital International* |
| *Perpetual: Callable security with no stated maturity date.*  |
| *Principal Only: Principal Only (PO) bonds represent the "principal only" portion of payments on a pool of underlying mortgages or* <br> *mortgage-backed securities.*<br>|
| *REG S: Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or* <br> *benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the* <br> *Securities Act of 1933.*<br>|
| *REIT: Real Estate Investment Trust* |
| *S&P: Standard & Poor's* |
| *SOFR: Secured Overnight Financing Rate* |
| *TBA: To Be Announced* |

---

*Included in the portfolio are investments in mortgage or asset-backed securities which are interests in separate pools of mortgages or assets. Effective maturities of these investments may be shorter than stated maturities due to prepayments. Some separate investments in the Federal Home Loan Mortgage Corp. issues which have similar coupon rates have been aggregated for presentation purposes in this investment portfolio.*

*At March 31, 2026, open futures contracts purchased were as follows:* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Futures** | **Currency** | &nbsp;&nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| **Contracts** | &nbsp;&nbsp;&nbsp; **Notional** <br>**Amount ($)**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value ($)**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation/** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation) ($)**<br>|
| 10 Year <br> U.S. Treasury <br> Note <br>| USD | 9/21/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 50<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5548626 | &nbsp;&nbsp;&nbsp;&nbsp; 5544531<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4095)<br>|
| 2 Year <br> U.S. Treasury <br> Note <br>| USD | 6/30/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 90<br>| &nbsp;&nbsp;&nbsp;&nbsp; 18658347 | &nbsp;&nbsp;&nbsp;&nbsp; 18670078<br>| &nbsp;&nbsp;&nbsp;&nbsp; 11731 |
| E-Mini S&P 500 <br> Index <br>| USD | 6/18/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 8<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2653553 | &nbsp;&nbsp;&nbsp;&nbsp; 2628300<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25253)<br>|
| EURO STOXX 50 <br> Index <br>| EUR | 6/19/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 51<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3349628 | &nbsp;&nbsp;&nbsp;&nbsp; 3239212<br>| &nbsp;&nbsp;&nbsp;&nbsp; (110416)<br>|
| MSCI Emerging <br> Market Index <br>| USD | 6/19/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 15<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1103370 | &nbsp;&nbsp;&nbsp;&nbsp; 1090950<br>| &nbsp;&nbsp;&nbsp;&nbsp; (12420)<br>|
| MSCI World <br> Index <br>| USD | 6/19/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 97<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13684705 | &nbsp;&nbsp;&nbsp;&nbsp; 13263780<br>| &nbsp;&nbsp;&nbsp;&nbsp; (420925)<br>|
| Nikkei 225 Index  | JPY | 6/11/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 16<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5508214 | &nbsp;&nbsp;&nbsp;&nbsp; 5157746<br>| &nbsp;&nbsp;&nbsp;&nbsp; (350468)<br>|
| Russell E-Mini <br> 2000 Index <br>| USD | 6/18/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 6<br>| &nbsp;&nbsp;&nbsp;&nbsp; 767317 | &nbsp;&nbsp;&nbsp;&nbsp; 753660<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13657)<br>|
| U.S. Treasury <br> Long Bond <br>| USD | 6/18/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 6<br>| &nbsp;&nbsp;&nbsp;&nbsp; 706141 | &nbsp;&nbsp;&nbsp;&nbsp; 683250<br>| &nbsp;&nbsp;&nbsp;&nbsp; (22891)<br>|
| Ultra Long <br> U.S. Treasury <br> Bond <br>| USD | 6/18/2026  | &nbsp;&nbsp;&nbsp;&nbsp; 13<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1567755 | &nbsp;&nbsp;&nbsp;&nbsp; 1515313<br>| &nbsp;&nbsp;&nbsp;&nbsp; (52442)<br>|
| **Total net unrealized depreciation** | **Total net unrealized depreciation** | **Total net unrealized depreciation** | **Total net unrealized depreciation** | **Total net unrealized depreciation** | **Total net unrealized depreciation** | &nbsp;&nbsp;&nbsp;&nbsp; **(1000836)**<br>|

---

------

*At March 31, 2026, the Fund had the following open forward foreign currency contracts:* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **In Exchange For** | **In Exchange For** | **Settlement** <br>**Date**<br>| **Unrealized** <br>**Appreciation ($)**<br>| **Counterparty** |
| &nbsp;&nbsp; USD | 1430737 | JPY | 226300000 | 6/12/2026 | **3683** | Citigroup, Inc.  |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Deliver** | **Contracts to Deliver** | **In Exchange For** | **In Exchange For** | **Settlement** <br>**Date**<br>| **Unrealized** <br>**Depreciation ($)**<br>| **Counterparty** |
| &nbsp;&nbsp; USD | 1499206 | GBP | 1130000 | 6/12/2026 | (3830)<br>| Citigroup, Inc.  |
| &nbsp;&nbsp; USD | 1427269 | EUR | 1230000 | 6/12/2026 | (937)<br>| Citigroup, Inc.  |
| &nbsp;&nbsp; USD | 1536875 | GBP | 1150000 | 6/12/2026 | (15032)<br>| Citigroup, Inc.  |
| **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **(19799)**<br>|  |

---

***Currency Abbreviation(s)***

------

---

| | |
|:---|:---|
| *EUR* | *Euro* |
| *GBP* | *British Pound* |
| *HUF* | *Hungarian Forint* |
| *JPY* | *Japanese Yen* |
| *MXN* | *Mexican Peso* |
| *USD* | *United States Dollar* |

---

------

***Fair Value Measurements***

*Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.*

*The following is a summary of the inputs used as of March 31, 2026 in valuing the Fund's investments.* 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services  | $3381076 | &nbsp;&nbsp; $50959 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3432035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary  | 3050662 | &nbsp;&nbsp; 759810 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3810472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples  | 1214870 | &nbsp;&nbsp; 982960 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2197830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy  | 1922357 | &nbsp;&nbsp; 26308 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1948665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials  | 3857974 | &nbsp;&nbsp; 3146654 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7004628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care  | 2769723 | &nbsp;&nbsp; 807222 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3576945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials  | 2649041 | &nbsp;&nbsp; 1820739 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4469780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology  | 9509991 | &nbsp;&nbsp; 894712 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10404703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials  | 1376122 | &nbsp;&nbsp; 233014 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1609136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate  | 764718 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 764718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities  | 133989 | &nbsp;&nbsp; 975397 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1109386 |
| Preferred Stocks (a) | 2174317 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2174317 |
| Rights  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 204 | &nbsp;&nbsp; 204 |
| Warrants  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 2190 | &nbsp;&nbsp; 2190 |
| Corporate Bonds (a) |  | &nbsp;&nbsp; 23362681 | &nbsp;&nbsp; — | &nbsp;&nbsp; 23362681 |
| Asset-Backed (a) |  | &nbsp;&nbsp; 8741679 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8741679 |
| Mortgage-Backed Securities Pass-Throughs  |  | &nbsp;&nbsp; 3830042 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3830042 |
| Commercial Mortgage-Backed Securities  |  | &nbsp;&nbsp; 2621496 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2621496 |
| Collateralized Mortgage Obligations  |  | &nbsp;&nbsp; 2301499 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2301499 |
| Government & Agency Obligations (a) |  | &nbsp;&nbsp; 16680614 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16680614 |
| Exchange-Traded Funds  | 2993740 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2993740 |
| Short-Term Investments (a) | 12292675 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 12292675 |
| Derivatives (b) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts  | 11731 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 11731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  |  | &nbsp;&nbsp; 3683 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3683 |
| **Total** | **$48102986** | &nbsp;&nbsp; **$67239469** | &nbsp;&nbsp; **$2394** | &nbsp;&nbsp; **$115344849** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Liabilities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Derivatives (b) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts  | $(1012567)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1012567)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts  |  | &nbsp;&nbsp; (19799)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (19799)<br>|
| **Total** | **$(1012567)**<br>| &nbsp;&nbsp; **$(19799)**<br>| &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$(1032366)**<br>|

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *See Investment Portfolio for additional detailed categorizations.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* *Derivatives include unrealized appreciation (depreciation) on open futures contracts and forward foreign currency contracts.* 

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.

VS2GIB-PH1

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** DEUTSCHE DWS VARIABLE SERIES II

- **b. Investment Company Act file number:** 811-05002

- **c. CIK number of Registrant:** 0000810573

- **d. LEI of Registrant:** 7WRERVUOG2HKG87QIP75

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

  - **Street Address 1:** 875 Third Avenue

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10022-6225

  - **Telephone number:** 212-454-4500

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

- **a. Name of Series:** DWS Global Income Builder VIP

- **b. EDGAR series identifier (if any):** S000006265

- **c. LEI of Series:** 5FZLOX5MTTGTXCTW6733

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $116649206.44

**Total Liabilities:** $5076522.19

**Net Assets:** $111572684.25

**Cash Not Reported:** $1677258.67

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -66.15000000 | **1-Year:** -1540.67000000 | **5-Year:** -5669.46000000 | **10-Year:** -4909.28000000 | **30-Year:** -2787.45000000

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

- **3-Month:** -29.64000000 | **1-Year:** -701.10000000 | **5-Year:** -2292.89000000 | **10-Year:** -976.47000000 | **30-Year:** -680.82000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017223 | 1.66%                | 2.51%                | -5.62%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $682711.20               | $189822.81                                 |
| Month 2  | $839122.76               | $815926.29                                 |
| Month 3  | $361053.01               | $-4422106.75                               |

**Designated Index Information**

- **Index Name:** 50% MSCI World Index in EUR, 13% BBG U.S. Corporate High Yield Index, 11% BBG EM USD Aggregate Index, 7% BBG U.S. Credit Index, 6% MSCI EM Index, 5% BBG Treasury Index, 4% BBG MBS Index, 2.5%BBG ABS Index, 1.5% BBG CMBS Investment Grade Index

- **Index Identifier:** MSWBA_MIX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGNC Investment Corp                                                                | AGNC Investment Corp                                                                  | CUSIP: 00123Q500<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               |  | US        |     14427 | NS      | $363127.59    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                                                                            | AT&T Inc                                                                              | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    110000 | PA      | $71539.85     | 0.06%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd                                                       | ASE Technology Holding Co Ltd                                                         | CUSIP: 00215W100<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |     46100 | NS      | $999448.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA ABIOMED INC                                                                  | CONTRA ABIOMED INC                                                                    | CUSIP: 003CVR016<br>LEI: N/A                  | Long             |  | CORP              | US        |       200 | NS      | $204.00       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ACRISURE LLC / FIN INC                                                              | Acrisure LLC / Acrisure Finance Inc                                                   | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    358000 | PA      | $344977.07    | 0.31%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Adobe Inc                                                                           | Adobe Inc                                                                             | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      1167 | NS      | $283674.36    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                                            | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                             | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    200000 | PA      | $204695.40    | 0.18%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| AFRICAN DEVELOPMENT BANK                                                            | African Development Bank                                                              | CUSIP: 008281BK2<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | NUSS              | XX        |    200000 | PA      | $194791.74    | 0.17%             | N/A             | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Agnico Eagle Mines Ltd                                                              | Agnico Eagle Mines Ltd                                                                | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      2300 | NS      | $466861.48    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                                                             | Aircastle Ltd / Aircastle Ireland DAC                                                 | CUSIP: 00929JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    150000 | PA      | $153587.74    | 0.14%             | 2031-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Alimentation Couche-Tard Inc                                                        | Alimentation Couche-Tard Inc                                                          | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |      2700 | NS      | $153040.76    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro CLO Ltd                                                                     | Allegro CLO V-S Ltd                                                                   | CUSIP: 01750RAG5<br>LEI: 2138003E5WTFBR7NV267 | Long             | ABS-CBDO         | CORP              | JE        |    500000 | PA      | $500750.00    | 0.45%             | 2037-07-24      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                           | Uniform Mortgage-Backed Security, TBA                                                 | CUSIP: 01F050643<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    400000 | PA      | $394352.00    | 0.35%             | 2056-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allstate Corp/The                                                                   | Allstate Corp/The                                                                     | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      4500 | NS      | $933030.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHA GENERATION LLC                                                                | Alpha Generation LLC                                                                  | CUSIP: 02073LAC5<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    429000 | PA      | $421425.40    | 0.38%             | 2034-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                                                                        | Alphabet Inc                                                                          | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      3180 | NS      | $912214.80    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                                                        | Alphabet Inc                                                                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      3426 | NS      | $985180.56    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                                                      | Amazon.com Inc                                                                        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      4800 | NS      | $999696.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                                                                      | Amazon.com Inc                                                                        | CUSIP: 023135DH6<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199839.28    | 0.18%             | 2056-03-13      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| America Movil SAB de CV                                                             | America Movil SAB de CV                                                               | CUSIP: 02390A101<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |      4000 | NS      | $101920.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial Inc                                                            | Ameriprise Financial Inc                                                              | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |       665 | NS      | $295526.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                                                       | Amphenol Corp                                                                         | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     11377 | NS      | $1437483.95   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                                                              | Anglo American Capital PLC                                                            | CUSIP: 034863BJ8<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $244445.22    | 0.22%             | 2036-03-19      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                                          | Apidos CLO XXIV                                                                       | CUSIP: 03759CAS9<br>LEI: 549300PPHIOJQEKPJH29 | Long             | ABS-CBDO         | CORP              | KY        |     57420 | PA      | $57442.42     | 0.05%             | 2030-10-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                                                       | AppLovin Corp                                                                         | CUSIP: 03831WAE8<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |     83000 | PA      | $75392.04     | 0.07%             | 2054-12-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                                        | Ares LXXVII CLO Ltd                                                                   | CUSIP: 03990KAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $248928.50    | 0.22%             | 2038-07-15      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                                        | Ares XLI Clo Ltd                                                                      | CUSIP: 04016DAU9<br>LEI: 549300X38KZ67Q2FQG11 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500019.00    | 0.45%             | 2034-04-15      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Arista Networks Inc                                                                 | Arista Networks Inc                                                                   | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      5513 | NS      | $676886.14    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                                                                        | Autodesk Inc                                                                          | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      2388 | NS      | $571687.20    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                            | Avis Budget Rental Car Funding AESOP LLC                                              | CUSIP: 05377RFX7<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |     33333 | PA      | $33358.91     | 0.03%             | 2027-04-20      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                                   | HSBC Holdings PLC                                                                     | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |     22911 | NS      | $373838.08    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| The BAHA Trust                                                                      | BAHA Trust 2024-MAR                                                                   | CUSIP: 05493XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    169000 | PA      | $172446.47    | 0.15%             | 2041-12-10      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                                         | BNP Paribas SA                                                                        | CUSIP: 05565A5R0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    280000 | PA      | $291662.56    | 0.26%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                                              | BP Capital Markets PLC                                                                | CUSIP: 05565QDX3<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $302591.10    | 0.27%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                                                                  | BX Trust 2019-OC11                                                                    | CUSIP: 05606FAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $141800.91    | 0.13%             | 2041-12-09      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| BXP Trust                                                                           | BXP Trust 2021-601L                                                                   | CUSIP: 05607TAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $215632.23    | 0.19%             | 2044-01-15      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                            | BX Trust 2025-ARIA                                                                    | CUSIP: 05619TAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100073.70    | 0.09%             | 2042-12-13      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| Baidu Inc                                                                           | Baidu Inc                                                                             | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |       800 | NS      | $89136.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                                                                       | Rio Tinto PLC                                                                         | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |      1465 | NS      | $135375.91    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                                              | Blackstone Private Credit Fund                                                        | CUSIP: 09261HBS5<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     98000 | PA      | $93385.39     | 0.08%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                                              | Blackstone Private Credit Fund                                                        | CUSIP: 09261HBW6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140227.72    | 0.13%             | 2034-11-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                                       | Boeing Co/The                                                                         | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    230000 | PA      | $253132.22    | 0.23%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Booking Holdings Inc                                                                | Booking Holdings Inc                                                                  | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       170 | NS      | $715754.40    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Bourzou Issuer LLC, Jamshid Issuer LLC, Cristobal Issuer LLC & COPT DC-6 Issuer LLC | Cloud Capital Holdco LP                                                               | CUSIP: 102104AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150013.01    | 0.13%             | 2049-11-22      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| Brazil Government International Bonds                                               | Brazil Government International Bonds                                                 | CUSIP: 105756CF5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    200000 | PA      | $200560.00    | 0.18%             | 2033-10-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | Broadcom Inc                                                                          | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      2898 | NS      | $896959.98    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BUCKEYE PARTNERS LP                                                                 | Buckeye Partners LP                                                                   | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    450000 | PA      | $464404.95    | 0.42%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                    | Paramount Global                                                                      | CUSIP: 124857AN3<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     60000 | PA      | $35840.08     | 0.03%             | 2045-01-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                    | Paramount Global                                                                      | CUSIP: 124857AZ6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    225000 | PA      | $214856.09    | 0.19%             | 2029-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                                                                   | CBRE Services Inc                                                                     | CUSIP: 12505BAK6<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90828.56     | 0.08%             | 2035-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                                                                     | CMS Energy Corp                                                                       | CUSIP: 125896BV1<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    350000 | PA      | $319292.09    | 0.29%             | 2050-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                     | CVS Health Corp                                                                       | CUSIP: 126650EK2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100388.85    | 0.09%             | 2035-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                     | CVS Health Corp                                                                       | CUSIP: 126650EL0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    170000 | PA      | $168386.26    | 0.15%             | 2055-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                                            | Capital One Financial Corp                                                            | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    350000 | PA      | $344945.93    | 0.31%             | N/A             | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| CarMax Select Receivables Trust                                                     | CarMax Select Receivables Trust 2026-A                                                | CUSIP: 142929AF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $198650.34    | 0.18%             | 2032-05-17      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Carnival Corp                                                                       | Carnival Corp                                                                         | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |     10883 | NS      | $281652.04    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                                                                 | DWS Government & Agency Securities Portfolio DWS Government Cash Institutional Shares | CUSIP: 147539670<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1943074 | NS      | $1943074.00   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                                            | Celanese US Holdings LLC                                                              | CUSIP: 15089QAW4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     32000 | PA      | $33278.41     | 0.03%             | 2028-11-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                                                            | Charles River Laboratories International Inc                                          | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    150000 | PA      | $142144.44    | 0.13%             | 2029-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                            | Charter Communications Operating LLC / Charter Communications Operating Capital       | CUSIP: 161175AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101548.36    | 0.09%             | 2035-10-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                            | Charter Communications Operating LLC / Charter Communications Operating Capital       | CUSIP: 161175CS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    186000 | PA      | $182947.12    | 0.16%             | 2035-12-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                                                                 | Cheniere Energy Inc                                                                   | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |    320000 | PA      | $319191.34    | 0.29%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                       | Citigroup Inc                                                                         | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    190000 | PA      | $193976.44    | 0.17%             | 2036-01-24      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                       | Citigroup Inc                                                                         | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176299.57    | 0.16%             | N/A             | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions Corp                                                 | Cognizant Technology Solutions Corp                                                   | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      1071 | NS      | $65705.85     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF COLOMBIA                                                                | Colombia Government International Bond                                                | CUSIP: 195325EU5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    205000 | PA      | $201412.50    | 0.18%             | 2031-01-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO                                                            | Columbia Pipelines Holding Co LLC                                                     | CUSIP: 19828AAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102321.85    | 0.09%             | 2034-01-15      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer III, LLC                                                 | Compass Datacenters Issuer III LLC                                                    | CUSIP: 20469BAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     84000 | PA      | $83174.62     | 0.07%             | 2050-07-25      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                                                         | Corp Nacional del Cobre de Chile                                                      | CUSIP: 21987BBG2<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $204492.80    | 0.18%             | 2034-01-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Ginnie Mae                                                                            | CUSIP: 21H052645<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2500000 | PA      | $2514825.00   | 2.25%             | 2056-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Costco Wholesale Corp                                                               | Costco Wholesale Corp                                                                 | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       117 | NS      | $116582.31    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CPS Auto Trust                                                                      | CPS Auto Receivables Trust 2023-C                                                     | CUSIP: 223928AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     62511 | PA      | $62948.34     | 0.06%             | 2029-10-15      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                                  | Energy Transfer LP                                                                    | CUSIP: 226373AT5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     85000 | PA      | $88163.14     | 0.08%             | 2031-02-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                                                    | DT Midstream Inc                                                                      | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $391584.17    | 0.35%             | 2029-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Dell Technologies Inc                                                               | Dell Technologies Inc                                                                 | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      5400 | NS      | $886302.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| DELTA AIR LINES INC                                                                 | Delta Air Lines Inc                                                                   | CUSIP: 247361ZT8<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    135000 | PA      | $129948.24    | 0.12%             | 2029-10-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co/The                                                                  | Walt Disney Co/The                                                                    | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      1300 | NS      | $125294.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollarama Inc                                                                       | Dollarama Inc                                                                         | CUSIP: 25675T107<br>LEI: 5493002GJ0NJP1HI0C79 | Long             | EC               | CORP              | CA        |       300 | NS      | $36819.06     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINION ENERGY INC                                                                 | Dominion Energy Inc                                                                   | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    187000 | PA      | $189862.60    | 0.17%             | 2055-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Dover Corp                                                                          | Dover Corp                                                                            | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |      3549 | NS      | $739789.05    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| DOW CHEMICAL CO/THE                                                                 | Dow Chemical Co/The                                                                   | CUSIP: 260543DP5<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |    160000 | PA      | $158498.69    | 0.14%             | 2036-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| EQT CORP                                                                            | EQT Corp                                                                              | CUSIP: 26884LAR0<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    225000 | PA      | $231960.09    | 0.21%             | 2034-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                                                            | Eagle Funding Luxco Sarl                                                              | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    400000 | PA      | $402100.00    | 0.36%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED GBP / SOLD USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | GB        |         1 | NC      | $-3829.96     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED JPY / SOLD USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | JP        |         1 | NC      | $3683.28      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED EUR / SOLD USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |         1 | NC      | $-937.31      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                         | PURCHASED GBP / SOLD USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | GB        |         1 | NC      | $-15032.05    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                                        | Ecopetrol SA                                                                          | CUSIP: 279158AW9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    300000 | PA      | $302959.35    | 0.27%             | 2032-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Edison International                                                                | Edison International                                                                  | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |      1526 | NS      | $111672.68    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| ENBRIDGE INC                                                                        | Enbridge Inc                                                                          | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $199605.24    | 0.18%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                                  | Energy Transfer LP                                                                    | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    175000 | PA      | $183293.95    | 0.16%             | 2054-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Equinix Inc                                                                         | Equinix Inc                                                                           | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |       507 | NS      | $496981.68    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORP                                                                         | Exelon Corp                                                                           | CUSIP: 30161NBQ3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    133000 | PA      | $135601.82    | 0.12%             | 2055-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                                                 | Exeter Automobile Receivables Trust                                                   | CUSIP: 30166XAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     59000 | PA      | $59322.87     | 0.05%             | 2031-10-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                         | Freddie Mac Pool                                                                      | CUSIP: 3131WLBF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       549 | PA      | $577.45       | 0.00%             | 2038-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                          | Fannie Mae REMICS                                                                     | CUSIP: 3136BQUL1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    290251 | PA      | $247070.35    | 0.22%             | 2053-11-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                          | Fannie Mae REMICS                                                                     | CUSIP: 3136BTD26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    362791 | PA      | $368164.20    | 0.33%             | 2054-12-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                          | Fannie Mae REMICS                                                                     | CUSIP: 31393ENQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26296 | PA      | $3471.63      | 0.00%             | 2033-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                          | Fannie Mae Pool                                                                       | CUSIP: 31407KN70<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2146 | PA      | $2154.57      | 0.00%             | 2035-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                          | Fannie Mae Pool                                                                       | CUSIP: 3140QWA77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    447994 | PA      | $460101.87    | 0.41%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                         | Freddie Mac Pool                                                                      | CUSIP: 31425XDT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    445530 | PA      | $458031.42    | 0.41%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                                 | Fifth Third Bancorp                                                                   | CUSIP: 316773605<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |     10000 | NS      | $251700.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST CITIZENS BANCSHARE                                                            | First Citizens BancShares Inc/NC                                                      | CUSIP: 319626AA5<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |    240000 | PA      | $234569.93    | 0.21%             | 2035-09-05      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Next PLC                                                                            | Next PLC                                                                              | CUSIP: 000000000<br>LEI: 213800WQD8ECPZP9PH98 | Long             | EC               | CORP              | GB        |       294 | NS      | $49596.57     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                            | First Quantum Minerals Ltd                                                            | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    285000 | PA      | $290140.55    | 0.26%             | 2034-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                            | Ford Motor Credit Co LLC                                                              | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197409.13    | 0.18%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                            | Ford Motor Credit Co LLC                                                              | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210986.21    | 0.19%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                            | Ford Motor Credit Co LLC                                                              | CUSIP: 345397J20<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197532.48    | 0.18%             | 2029-04-06      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Fortis Inc/Canada                                                                   | Fortis Inc/Canada                                                                     | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |       400 | NS      | $22316.15     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                               | Foundry JV Holdco LLC                                                                 | CUSIP: 350930AH6<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206024.71    | 0.18%             | 2036-01-25      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Foursight Capital Automobile Receivables Trust                                      | Foursight Capital Automobile Receivables Trust 2023-2                                 | CUSIP: 35104AAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $253944.63    | 0.23%             | 2029-04-16      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                                 | Freddie Mac STACR Trust 2019-DNA2                                                     | CUSIP: 35564LAH0<br>LEI: 549300Y6KOVOWQ8OJC33 | Long             | ABS-MBS          | USGSE             | US        |    104767 | PA      | $106754.50    | 0.10%             | 2049-03-25      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| GE Aerospace                                                                        | GE Aerospace                                                                          | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      1160 | NS      | $329173.20    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS CO                                                                   | General Motors Co                                                                     | CUSIP: 37045VBA7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    212000 | PA      | $217968.65    | 0.20%             | 2030-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                                                   | General Motors Co                                                                     | CUSIP: 37045VBB5<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103989.46    | 0.09%             | 2035-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                              | General Motors Financial Co Inc                                                       | CUSIP: 37045XFN1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29551.00     | 0.03%             | 2036-01-08      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                                                 | Global Payments Inc                                                                   | CUSIP: 37940XAY8<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    210000 | PA      | $202364.13    | 0.18%             | 2035-11-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Gold Fields Ltd                                                                     | Gold Fields Ltd                                                                       | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      3496 | NS      | $158718.40    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                             | Goldman Sachs Group Inc/The                                                           | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    229000 | PA      | $227808.55    | 0.20%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage Association                                            | Government National Mortgage Association                                              | CUSIP: 38383FVU4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1313827 | PA      | $172376.15    | 0.15%             | 2051-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Government National Mortgage Association                                              | CUSIP: 38384CTB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    238408 | PA      | $240972.27    | 0.22%             | 2053-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | Government National Mortgage Association                                              | CUSIP: 38385FE31<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    401175 | PA      | $387888.03    | 0.35%             | 2055-04-20      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                                                                    | HF Sinclair Corp                                                                      | CUSIP: 403949AR1<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    156000 | PA      | $159392.28    | 0.14%             | 2031-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                                                                    | HF Sinclair Corp                                                                      | CUSIP: 403949AT7<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    156000 | PA      | $156355.42    | 0.14%             | 2032-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                                   | HSBC Holdings PLC                                                                     | CUSIP: 404280EV7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $299345.76    | 0.27%             | N/A             | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Hin Timeshare Trust                                                                 | HINNT 2024-A LLC                                                                      | CUSIP: 40472QAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     42069 | PA      | $42645.84     | 0.04%             | 2043-03-15      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| Hercules Trust II                                                                   | HERCULES TR II                                                                        | CUSIP: 427098116<br>LEI: N/A                  | N/A              | DE               |  | US        |       170 | NS      | $2189.91      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Hertz Vehicle Financing LLC                                                         | Hertz Vehicle Financing III LLC                                                       | CUSIP: 42806MBU2<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $170324.05    | 0.15%             | 2027-06-25      | Fixed         | 6.91%                 | No            |                  2 | On Loan: No      |
| Hin Timeshare Trust                                                                 | HINNT 2025-B LLC                                                                      | CUSIP: 433401AB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    217388 | PA      | $216347.88    | 0.19%             | 2045-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd                                                   | Hon Hai Precision Industry Co Ltd                                                     | CUSIP: 438090805<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |      5619 | NS      | $67315.62     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HPEFS Equipment Trust                                                               | HPEFS Equipment Trust 2025-2                                                          | CUSIP: 442927AE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99392.29     | 0.09%             | 2032-11-22      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                                                        | Huntington Bank Auto Credit-Linked Notes Series 2026-1                                | CUSIP: 44644NAV1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $398245.76    | 0.36%             | 2034-02-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| IRV Trust                                                                           | IRV Trust 2025-200P                                                                   | CUSIP: 45006HAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    127000 | PA      | $125741.63    | 0.11%             | 2047-03-14      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| Hannover Rueck SE                                                                   | Hannover Rueck SE                                                                     | CUSIP: 000000000<br>LEI: 529900KIN5BE45V5KB18 | Long             | EC               | CORP              | DE        |      2341 | NS      | $733038.29    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Intuit Inc                                                                          | Intuit Inc                                                                            | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       366 | NS      | $158251.08    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                                                              | Intuitive Surgical Inc                                                                | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       145 | NS      | $66843.55     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| IRON MOUNTAIN INC                                                                   | Iron Mountain Inc                                                                     | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    500000 | PA      | $498401.15    | 0.45%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Itau Unibanco Holding SA                                                            | Itau Unibanco Holding SA                                                              | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |     26300 | NS      | $220394.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Mortgage Trust                                                            | JP Morgan Mortgage Trust Series 2025-DSC1                                             | CUSIP: 46593TAA0<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |    179120 | PA      | $179894.45    | 0.16%             | 2065-09-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                       | J.P. Morgan Chase Commercial Mortgage Securities Trust 2016-NINE                      | CUSIP: 46646GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    187000 | PA      | $185707.21    | 0.17%             | 2038-09-06      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                       | J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-PHH                       | CUSIP: 46650FAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    387634 | PA      | $251970.03    | 0.23%             | 2035-06-15      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                       | J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-OSB                       | CUSIP: 46651EAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $234461.60    | 0.21%             | 2039-06-05      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                       | JP Morgan Chase Commercial Mortgage Securities Trust 2021-1MEM                        | CUSIP: 46654BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $209792.68    | 0.19%             | 2042-10-09      | Variable      | 2.52%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust 2024-MRCO                                              | JW Commercial Mortgage Trust 2024-MRCO                                                | CUSIP: 46657XAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    190000 | PA      | $190000.00    | 0.17%             | 2039-06-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                            | JP Morgan Mortgage Trust Series 2024-6                                                | CUSIP: 46657YAP9<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |     65874 | PA      | $65992.32     | 0.06%             | 2054-12-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| JBS NV/USA FOODS/FOOD CO                                                            | JBS NV/JBS USA Foods Group Holdings Inc/JBS USA Food Co Holdings                      | CUSIP: 47214BAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    200000 | PA      | $219969.80    | 0.20%             | 2034-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Jersey Mikes Funding LLC                                                            | Jersey Mike's Funding LLC                                                             | CUSIP: 476681AD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    118800 | PA      | $120144.48    | 0.11%             | 2055-02-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                                 | JPMorgan Chase & Co                                                                   | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    230000 | PA      | $236011.05    | 0.21%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                                 | JPMorgan Chase & Co                                                                   | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103750.00    | 0.09%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                                                    | Skandinaviska Enskilda Banken AB                                                      | CUSIP: 000000000<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | EC               | CORP              | SE        |     16197 | NS      | $297964.63    | 0.27%             |  |  |  | No            |                  2 | On Loan: —       |
| KNDR Trust 2021-KIND                                                                | KIND Trust 2021-KIND                                                                  | CUSIP: 482606AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     99172 | PA      | $98676.13     | 0.09%             | 2038-08-15      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                                                                | Keurig Dr Pepper Inc                                                                  | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     35900 | NS      | $945247.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                                                             | KeyCorp                                                                               | CUSIP: 493267702<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |     10000 | NS      | $247000.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                                                                   | Kimco Realty Corp                                                                     | CUSIP: 49446R737<br>LEI: 254900ARY41P4V1JL861 | Long             | EP               |  | US        |     15000 | NS      | $290550.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| KINETIK HOLDINGS LP                                                                 | Kinetik Holdings LP                                                                   | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    179000 | PA      | $182029.22    | 0.16%             | 2028-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Leidos Holdings Inc                                                                 | Leidos Holdings Inc                                                                   | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |      1100 | NS      | $171072.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Erste Group Bank AG                                                                 | Erste Group Bank AG                                                                   | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |       203 | NS      | $21977.75     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                                                                      | Eli Lilly & Co                                                                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1102 | NS      | $1013586.54   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T BANK CORPORATION                                                                | M&T Bank Corp                                                                         | CUSIP: 55261FAV6<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    230000 | PA      | $228106.46    | 0.20%             | 2036-01-16      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                                                     | MVW 2025-2 LLC                                                                        | CUSIP: 55389RAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    139599 | PA      | $137513.02    | 0.12%             | 2044-10-20      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| DISCOVERY HOLDINGS INC                                                              | Discovery Global Holdings Inc                                                         | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    175000 | PA      | $154875.00    | 0.14%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| UCB SA                                                                              | UCB SA                                                                                | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |        72 | NS      | $21769.58     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MAPLE PARENT HLDS CO                                                                | Maple Parent Holdings Corp                                                            | CUSIP: 56530KAB2<br>LEI: 254900J6FBJ1E892Q074 | Long             | DBT              | CORP              | US        |    355000 | PA      | $353499.27    | 0.32%             | 2031-03-26      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MAPLE PARENT HLDS CO                                                                | Maple Parent Holdings Corp                                                            | CUSIP: 56530KAD8<br>LEI: 254900J6FBJ1E892Q074 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148533.99    | 0.13%             | 2056-03-26      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp                                                             | Marathon Petroleum Corp                                                               | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       700 | NS      | $170926.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                                              | Marriott International Inc/MD                                                         | CUSIP: 571903BU6<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    210000 | PA      | $209080.84    | 0.19%             | 2037-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mercury Financial Credit Card Master Trust                                          | Mercury Financial Credit Card Master Trust                                            | CUSIP: 58940BAZ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $200327.28    | 0.18%             | 2029-07-20      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                                                                      | Microsoft Corp                                                                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      1853 | NS      | $685925.01    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Mission Lane Credit Card Master Trust                                               | Mission Lane Credit Card Master Trust                                                 | CUSIP: 60510MBE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $250405.80    | 0.22%             | 2030-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Bank Hapoalim BM                                                                    | Bank Hapoalim BM                                                                      | CUSIP: 000000000<br>LEI: B6ARUI4946ST4S7WOU88 | Long             | EC               | CORP              | IL        |      3793 | NS      | $88691.63     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd                                                                       | BHP Group Ltd                                                                         | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |      2756 | NS      | $97638.00     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                      | Morgan Stanley                                                                        | CUSIP: 61747YGA7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    140000 | PA      | $143396.73    | 0.13%             | 2036-04-17      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | Morgan Stanley                                                                        | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     10000 | NS      | $233700.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd                                                  | Hong Kong Exchanges & Clearing Ltd                                                    | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |      3300 | NS      | $166097.09    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                                      | NRG Energy Inc                                                                        | CUSIP: 629377DB5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    101000 | PA      | $99073.40     | 0.09%             | 2035-10-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                                                        | Navient Corp                                                                          | CUSIP: 63938CAM0<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    286000 | PA      | $262133.93    | 0.23%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| NetEase Inc                                                                         | NetEase Inc                                                                           | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |      7035 | NS      | $787497.90    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Berman CLO Ltd                                                            | Neuberger Berman CLO XVII Ltd                                                         | CUSIP: 64129UCC7<br>LEI: 549300XVEYZNG956Y145 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250084.00    | 0.22%             | 2038-07-22      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Japan Tobacco Inc                                                                   | Japan Tobacco Inc                                                                     | CUSIP: 000000000<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | EC               | CORP              | JP        |     25700 | NS      | $982959.59    | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                                              | NextEra Energy Capital Holdings Inc                                                   | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     98000 | PA      | $101384.33    | 0.09%             | 2054-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                                              | NextEra Energy Capital Holdings Inc                                                   | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    350000 | PA      | $356563.20    | 0.32%             | 2055-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                                                     | Nordea Bank Abp                                                                       | CUSIP: 65558RAK5<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    300000 | PA      | $298514.01    | 0.27%             | N/A             | Fixed         | 6.30%                 | No            |                  2 | On Loan: —       |
| Renesas Electronics Corp                                                            | Renesas Electronics Corp                                                              | CUSIP: 000000000<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |     30500 | NS      | $436482.08    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Nucor Corp                                                                          | Nucor Corp                                                                            | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |      4040 | NS      | $683164.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| NUSTAR LOGISTICS LP                                                                 | NuStar Logistics LP                                                                   | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    565000 | PA      | $584208.31    | 0.52%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp                                                                         | NVIDIA Corp                                                                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     11086 | NS      | $1933398.40   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| QBE Insurance Group Ltd                                                             | QBE Insurance Group Ltd                                                               | CUSIP: 000000000<br>LEI: 549300D2FBW76FPUSG65 | Long             | EC               | CORP              | AU        |     36715 | NS      | $540124.34    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                            | Occidental Petroleum Corp                                                             | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    300000 | PA      | $341483.10    | 0.31%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Octagon 63 Ltd                                                                      | Octagon 63 Ltd                                                                        | CUSIP: 67578VAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $348680.50    | 0.31%             | 2037-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| OLIN CORP                                                                           | Olin Corp                                                                             | CUSIP: 680665AK2<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191577.14    | 0.17%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Omnicom Group Inc                                                                   | Omnicom Group Inc                                                                     | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |       900 | NS      | $67779.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK INC                                                                           | ONEOK Inc                                                                             | CUSIP: 682680CR2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    280000 | PA      | $296385.57    | 0.27%             | 2030-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                         | Oracle Corp                                                                           | CUSIP: 68389XCU7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    245000 | PA      | $189513.19    | 0.17%             | 2054-09-27      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                         | Oracle Corp                                                                           | CUSIP: 68389XCV5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $57435.78     | 0.05%             | 2064-09-27      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                         | Oracle Corp                                                                           | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     96000 | PA      | $80761.99     | 0.07%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Corp                                                                   | Toyota Motor Corp                                                                     | CUSIP: 000000000<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |     27000 | NS      | $552530.44    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| PG&E CORP                                                                           | PG&E Corp                                                                             | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100641.44    | 0.09%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PTC Inc                                                                             | PTC Inc                                                                               | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |       500 | NS      | $71245.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                              | Pacific Gas and Electric Co                                                           | CUSIP: 694308KT3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     52000 | PA      | $48456.12     | 0.04%             | 2054-10-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                                               | Palmer Square CLO 2020-3 Ltd                                                          | CUSIP: 69701RBN6<br>LEI: 549300IUW4WDDDVSMS20 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $248267.00    | 0.22%             | 2036-11-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp                                                                | Parker-Hannifin Corp                                                                  | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |       635 | NS      | $568477.40    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                                                                             | ABB Ltd                                                                               | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |      9466 | NS      | $764956.24    | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Eni SpA                                                                             | Eni SpA                                                                               | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |       927 | NS      | $26307.58     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                                                            | Petrobras Global Finance BV                                                           | CUSIP: 71647NBM0<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    225000 | PA      | $220466.25    | 0.20%             | 2030-09-10      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                                                            | Petrobras Global Finance BV                                                           | CUSIP: 71647NBN8<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    169000 | PA      | $165085.96    | 0.15%             | 2036-01-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Phillips 66                                                                         | Phillips 66                                                                           | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      8900 | NS      | $1621402.00   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILLIPS 66 CO                                                                      | Phillips 66 Co                                                                        | CUSIP: 718547AZ5<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196951.62    | 0.18%             | 2056-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO                                                                      | Phillips 66 Co                                                                        | CUSIP: 718547BA9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |     63000 | PA      | $62716.96     | 0.06%             | 2056-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Pikes Peak CLO                                                                      | Pikes Peak CLO 14 2023 Ltd                                                            | CUSIP: 72134CAQ4<br>LEI: 213800AO7LGLGDRRY278 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $250498.00    | 0.22%             | 2038-07-20      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                                                            | Plains All American Pipeline LP / PAA Finance Corp                                    | CUSIP: 72650RBR2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $64802.18     | 0.06%             | 2031-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Prologis Inc                                                                        | Prologis Inc                                                                          | CUSIP: 74340W202<br>LEI: 529900DFH19P073LZ636 | Long             | EP               |  | US        |       164 | NS      | $8569.66      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PUGET ENERGY INC                                                                    | Puget Energy Inc                                                                      | CUSIP: 745310AR3<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |    400000 | PA      | $396952.18    | 0.36%             | 2056-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                                         | RCKT Mortgage Trust 2024-CES7                                                         | CUSIP: 749414AA6<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |    152957 | PA      | $152766.41    | 0.14%             | 2044-10-25      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                                         | RCKT Mortgage Trust 2024-CES9                                                         | CUSIP: 749426AB8<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |     71698 | PA      | $71979.87     | 0.06%             | 2044-12-25      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                                                          | ROCK Trust 2024-CNTR                                                                  | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    159000 | PA      | $161637.46    | 0.14%             | 2041-11-13      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                                         | RAD CLO 23 Ltd                                                                        | CUSIP: 75009CAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500031.00    | 0.45%             | 2037-04-20      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Regeneron Pharmaceuticals Inc                                                       | Regeneron Pharmaceuticals Inc                                                         | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      1911 | NS      | $1476515.04   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Regatta 34 Funding Ltd.                                                             | Regatta 34 Funding Ltd                                                                | CUSIP: 75904BAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249100.25    | 0.22%             | 2038-07-20      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Restaurant Brands International Inc                                                 | Restaurant Brands International Inc                                                   | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Long             | EC               | CORP              | CA        |      6400 | NS      | $473593.56    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL BANK OF CANADA                                                                | Royal Bank of Canada                                                                  | CUSIP: 780082AT0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $238499.85    | 0.21%             | 2084-11-24      | Fixed         | 6.35%                 | No            |                  2 | On Loan: —       |
| SWCH Commercial Mortgage Trust                                                      | SWCH Commercial Mortgage Trust 2025-DATA                                              | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $197500.00    | 0.18%             | 2042-02-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                                                          | Samsung Electronics Co Ltd                                                            | CUSIP: 796050201<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |        30 | NS      | $58200.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                                                          | Samsung Electronics Co Ltd                                                            | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |       253 | NS      | $717508.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Santander Drive Auto Receivables Trust                                              | Santander Drive Auto Receivables Trust 2023-3                                         | CUSIP: 80285XAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101443.49    | 0.09%             | 2030-11-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                                                | Saudi Arabian Oil Co                                                                  | CUSIP: 80414L3F0<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    210000 | PA      | $208626.19    | 0.19%             | 2055-06-02      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                                                | Saudi Arabian Oil Co                                                                  | CUSIP: 80415RAC5<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    300000 | PA      | $288120.57    | 0.26%             | 2036-02-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp/The                                                             | Charles Schwab Corp/The                                                               | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      3900 | NS      | $366522.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP                                                                 | Charles Schwab Corp/The                                                               | CUSIP: 808513AR6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    469000 | PA      | $458981.78    | 0.41%             | N/A             | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| CHARLES SCHWAB CORP                                                                 | Charles Schwab Corp/The                                                               | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185007.44    | 0.17%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sculptor CLO Ltd                                                                    | Sculptor CLO XXVI Ltd                                                                 | CUSIP: 81124TAS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $248207.75    | 0.22%             | 2038-01-20      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust                                             | Securitized Term Auto Receivables Trust                                               | CUSIP: 81378RAC8<br>LEI: 254900DVX7EZK9JMUP63 | Long             | ABS-O            | CORP              | CA        |     27312 | PA      | $27527.61     | 0.02%             | 2031-07-25      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust                                             | Securitized Term Auto Receivables Trust                                               | CUSIP: 81378WAG8<br>LEI: 254900DVX7EZK9JMUP63 | Long             | ABS-O            | CORP              | CA        |    183736 | PA      | $183376.76    | 0.16%             | 2033-03-25      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                                              | Sempra                                                                                | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    390000 | PA      | $379278.74    | 0.34%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                              | Sequoia Mortgage Trust 2024-INV1                                                      | CUSIP: 816939AC6<br>LEI: 549300671OK77JNRLK28 | Long             | ABS-MBS          | CORP              | US        |    309928 | PA      | $308762.58    | 0.28%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Servpro Master Issuer, LLC                                                          | SERVPRO Master Issuer LLC                                                             | CUSIP: 817743AL1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    249375 | PA      | $246608.53    | 0.22%             | 2055-10-25      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Simon Property Group Inc                                                            | Simon Property Group Inc                                                              | CUSIP: 828806885<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EP               |  | US        |      8000 | NS      | $426720.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Sixth Street CLO XVI, LTD.                                                          | Sixth Street CLO XIV Ltd                                                              | CUSIP: 83013NAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $398596.40    | 0.36%             | 2038-01-20      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                                                    | Societe Generale SA                                                                   | CUSIP: 83368RBL5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    225000 | PA      | $231761.90    | 0.21%             | 2033-06-15      | Fixed         | 6.22%                 | No            |                  2 | On Loan: —       |
| SOUTHERN CO                                                                         | Southern Co/The                                                                       | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    215000 | PA      | $212860.51    | 0.19%             | 2051-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ELEC POWER                                                             | Southwestern Electric Power Co                                                        | CUSIP: 845437BV3<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |    148000 | PA      | $145535.81    | 0.13%             | 2036-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                                  | Expand Energy Corp                                                                    | CUSIP: 845467AR0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    205000 | PA      | $204818.10    | 0.18%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN PUBLIC SERV                                                            | Southwestern Public Service Co                                                        | CUSIP: 845743BX0<br>LEI: OL6FE7QD5EQ3DOYEO258 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201480.73    | 0.18%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER I                                                            | Stanley Black & Decker Inc                                                            | CUSIP: 854502AM3<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |    450000 | PA      | $439484.94    | 0.39%             | 2060-03-15      | Variable      | 6.71%                 | No            |                  2 | On Loan: No      |
| State Bank of India                                                                 | State Bank of India                                                                   | CUSIP: 856552203<br>LEI: 5493001JZ37UBBZF6L49 | Long             | EC               | CORP              | IN        |       219 | NS      | $23170.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP                                                                   | State Street Corp                                                                     | CUSIP: 857477CS0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253649.00    | 0.23%             | N/A             | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                                            | Sumitomo Mitsui Financial Group Inc                                                   | CUSIP: 86562MDW7<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $194716.88    | 0.17%             | N/A             | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                                                              | Switch ABS Issuer LLC                                                                 | CUSIP: 871044AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $201877.88    | 0.18%             | 2054-03-25      | Fixed         | 6.28%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                                                              | Switch ABS Issuer LLC                                                                 | CUSIP: 871044AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $98023.88     | 0.09%             | 2054-06-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                                                 | Synchrony Financial                                                                   | CUSIP: 87165BAW3<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199834.39    | 0.18%             | 2031-03-06      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                                                 | Synchrony Financial                                                                   | CUSIP: 87165BAZ6<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    300000 | PA      | $291150.74    | 0.26%             | 2032-02-25      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                    | T-Mobile USA Inc                                                                      | CUSIP: 87264ADD4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79200.62     | 0.07%             | 2054-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                                                              | Taco Bell Funding LLC                                                                 | CUSIP: 87342RAL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     62000 | PA      | $60549.80     | 0.05%             | 2055-08-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                                                            | Targa Resources Partners LP / Targa Resources Partners Finance Corp                   | CUSIP: 87612BBG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $199883.05    | 0.18%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                                                | Targa Resources Corp                                                                  | CUSIP: 87612GAU5<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    185000 | PA      | $178856.40    | 0.16%             | 2056-05-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Teck Resources Ltd                                                                  | Teck Resources Ltd                                                                    | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |      1300 | NS      | $67378.33     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd                                                                | Tencent Holdings Ltd                                                                  | CUSIP: 88032Q109<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |      4936 | NS      | $312053.92    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Debt Capital CLO, Ltd                                                         | Texas Debt Capital CLO 2023-I Ltd                                                     | CUSIP: 88238CAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $298735.80    | 0.27%             | 2038-07-20      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Texas Pacific Land Corp                                                             | Texas Pacific Land Corp                                                               | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       274 | NS      | $130029.44    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Towd Point Mortgage Trust                                                           | Towd Point Mortgage Trust 2025-CRM1                                                   | CUSIP: 891946AA3<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |     74421 | PA      | $74910.55     | 0.07%             | 2065-01-25      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| Travelers Cos Inc/The                                                               | Travelers Cos Inc/The                                                                 | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      4605 | NS      | $1343186.40   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINANCIAL CORP                                                               | Truist Financial Corp                                                                 | CUSIP: 89832QAD1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    300000 | PA      | $299471.64    | 0.27%             | N/A             | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| 20 TSQ GroundCo LLC                                                                 | 20 Times Square Trust 2018-20TS                                                       | CUSIP: 90137LAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $187500.00    | 0.17%             | 2035-05-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                        | UBS Group AG                                                                          | CUSIP: 902613AD0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $176439.82    | 0.16%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| U.S. Bank National Association                                                      | US Bank NA                                                                            | CUSIP: 90355PAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $248836.65    | 0.22%             | 2046-12-25      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2023-1 A PTT                                                             | United Airlines 2023-1 Class A Pass Through Trust                                     | CUSIP: 90932LAJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    273188 | PA      | $281187.20    | 0.25%             | 2036-01-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| United Auto Credit Securitization Trust                                             | United Auto Credit Securitization Trust 2026-1                                        | CUSIP: 90945FAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $199697.42    | 0.18%             | 2029-05-10      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United Auto Credit Securitization Trust                                             | United Auto Credit Securitization Trust 2026-1                                        | CUSIP: 90945FAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $149592.00    | 0.13%             | 2031-06-10      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                                                               | Mexico Government International Bond                                                  | CUSIP: 91087BBQ2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    863000 | PA      | $844014.00    | 0.76%             | 2034-02-09      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                                             | United Rentals North America Inc                                                      | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111837.11    | 0.10%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bills                                                                   | CUSIP: 912797RG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   3900000 | PA      | $3850611.02   | 3.45%             | 2026-08-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Bonds                                                                   | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    270800 | PA      | $258286.08    | 0.23%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                                   | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    875600 | PA      | $878746.69    | 0.79%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                                   | CUSIP: 91282CNP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5976900 | PA      | $5979234.70   | 5.36%             | 2027-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                                   | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1104100 | PA      | $1099959.63   | 0.99%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                              | U.S. Treasury Notes                                                                   | CUSIP: 91282CNW7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $246865.24    | 0.22%             | 2032-08-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VanEck J. P. Morgan EM Local Currency Bond ETF                                      | VanEck J. P. Morgan EM Local Currency Bond ETF                                        | CUSIP: 92189H300<br>LEI: 549300CNWPR88MZBEA63 | Long             | EC               | RF                | US        |    119225 | NS      | $2993739.75   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                    | Paramount Global                                                                      | CUSIP: 92556HAB3<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    150000 | PA      | $138946.99    | 0.12%             | 2031-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| VICI Properties Inc                                                                 | VICI Properties Inc                                                                   | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |      9800 | NS      | $267736.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| VIDEOTRON LTD                                                                       | Videotron Ltd                                                                         | CUSIP: 92660FAT1<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |    185000 | PA      | $186740.05    | 0.17%             | 2035-01-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                               | Wells Fargo & Co                                                                      | CUSIP: 94988U656<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |     15000 | NS      | $352950.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                               | Wells Fargo Commercial Mortgage Trust 2026-1250B                                      | CUSIP: 949939AA0<br>LEI: 549300PX4QZK7CUM8D08 | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $148556.00    | 0.13%             | 2041-03-10      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                               | Wells Fargo & Co                                                                      | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155490.75    | 0.14%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: —       |
| WENDYS FUNDING LLC                                                                  | Wendy's Funding LLC                                                                   | CUSIP: 95058XAR9<br>LEI: 5493009DRVSTWJOXUL48 | Long             | ABS-O            | CORP              | US        |    249375 | PA      | $246831.15    | 0.22%             | 2055-12-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Western Alliance Bank                                                               | Western Alliance Bank                                                                 | CUSIP: 95763PNC1<br>LEI: SI7YQSVPFZBSQ878IC17 | Long             | ABS-MBS          | CORP              | US        |    205780 | PA      | $220152.58    | 0.20%             | 2059-07-25      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                            | Western Midstream Operating LP                                                        | CUSIP: 958667AG2<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     92000 | PA      | $91100.30     | 0.08%             | 2034-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| WINGSTOP FUNDING LLC                                                                | Wingstop Funding LLC                                                                  | CUSIP: 974153AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101556.83    | 0.09%             | 2054-12-05      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| DWS                                                                                 | DWS Central Cash Management Government Fund                                           | CUSIP: 25160K306<br>LEI: 5493003GD84DGSXJ7618 | Long             | STIV             | RF                | US        |  10312477 | NS      | $10312477.11  | 9.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                                                                          | Zoetis Inc                                                                            | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      1800 | NS      | $212778.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                                                     | ASML Holding NV                                                                       | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       345 | NS      | $458230.25    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                                                             | Hungary Government Bond                                                               | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        | 220000000 | PA      | $545777.62    | 0.49%             | 2031-10-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Siemens Energy AG                                                                   | Siemens Energy AG                                                                     | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |      1057 | NS      | $179124.41    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                                                        | DNB Bank ASA                                                                          | CUSIP: 000000000<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |      1959 | NS      | $61382.98     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrovial SE                                                                        | Ferrovial SE                                                                          | CUSIP: 000000000<br>LEI: 72450022R2ZFL41Y6I04 | Long             | EC               | CORP              | NL        |      4712 | NS      | $306781.11    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| MEXICO CETES                                                                        | Mexico Cetes                                                                          | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  22000000 | PA      | $1157425.24   | 1.04%             | 2027-01-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                                                                | Colombia Government International Bond                                                | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    755000 | PA      | $820829.80    | 0.74%             | 2032-09-19      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| InterContinental Hotels Group PLC                                                   | InterContinental Hotels Group PLC                                                     | CUSIP: 000000000<br>LEI: 2138007ZFQYRUSLU3J98 | Long             | EC               | CORP              | GB        |      1014 | NS      | $133344.36    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                                                    | Roche Holding AG                                                                      | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |       137 | NS      | $54124.92     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                         | S+P500 EMINI FUT JUN26                                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |         8 | NC      | $-25252.98    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                                                              | MSCI EMGMKT JUN26                                                                     | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |        39 | NC      | $-32291.19    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                                                      | NIKKEI 225 (OSE) JUN26                                                                | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |        16 | NC      | $-350468.56   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                                                   | MSCI WORLD INDEX JUN26                                                                | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |        97 | NC      | $-420924.81   | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                                                   | EURO STOXX 50 JUN26                                                                   | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |        51 | NC      | $-110415.47   | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                                                         | E-MINI RUSS 2000 JUN26                                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |         6 | NC      | $-13657.20    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                                                   | EURO-BTP FUTURE JUN26                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        33 | NC      | $-25374.40    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                              | US LONG BOND(CBT) JUN26                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         6 | NC      | $-22891.14    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                              | US ULTRA BOND CBT JUN26                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        13 | NC      | $-52442.26    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                              | US 2YR NOTE (CBT) JUN26                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        90 | NC      | $11730.78     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Telecommunications Ltd                                                    | Singapore Telecommunications Ltd                                                      | CUSIP: 000000000<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |     13200 | NS      | $50959.21     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                                                            | Engie SA                                                                              | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |     30187 | NS      | $975397.45    | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Oversea-Chinese Banking Corp Ltd                                                    | Oversea-Chinese Banking Corp Ltd                                                      | CUSIP: 000000000<br>LEI: 5493007O3QFXCPOGWK22 | Long             | EC               | CORP              | SG        |      6500 | NS      | $111590.94    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Experian PLC                                                                        | Experian PLC                                                                          | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | JE        |       800 | NS      | $27716.75     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Volvo AB                                                                            | Volvo AB                                                                              | CUSIP: 000000000<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |       687 | NS      | $22629.69     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Prysmian SpA                                                                        | Prysmian SpA                                                                          | CUSIP: 000000000<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |      2430 | NS      | $284470.70    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA                                                                 | Amadeus IT Group SA                                                                   | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |       427 | NS      | $24338.47     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sompo Holdings Inc                                                                  | Sompo Holdings Inc                                                                    | CUSIP: 000000000<br>LEI: 353800CWW4SRGEYEB512 | Long             | EC               | CORP              | JP        |     16800 | NS      | $651004.49    | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                                                     | Nordea Bank Abp                                                                       | CUSIP: 000000000<br>LEI: 529900ODI3047E2LIV03 | Long             | EC               | CORP              | FI        |      5888 | NS      | $100944.09    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Argenx SE                                                                           | Argenx SE                                                                             | CUSIP: 000000000<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |       126 | NS      | $91739.40     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Vestas Wind Systems A/S                                                             | Vestas Wind Systems A/S                                                               | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Long             | EC               | CORP              | DK        |      6087 | NS      | $180061.42    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK PLC                                                                             | GSK PLC                                                                               | CUSIP: 000000000<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |     23315 | NS      | $639587.80    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| CK Hutchison Holdings Ltd                                                           | CK Hutchison Holdings Ltd                                                             | CUSIP: 000000000<br>LEI: 254900Z8HM1VEPOQ2G79 | Long             | EC               | CORP              | KY        |      2500 | NS      | $19180.97     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryanair Holdings PLC                                                                | Ryanair Holdings PLC                                                                  | CUSIP: 000000000<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |      1280 | NS      | $35816.37     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Arch Capital Group Ltd                                                              | Arch Capital Group Ltd                                                                | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |      1000 | NS      | $95990.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                                                              | Trane Technologies PLC                                                                | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      1984 | NS      | $826812.16    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                                                                           | Chubb Ltd                                                                             | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |      1780 | NS      | $580155.40    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                                                                  | AerCap Holdings NV                                                                    | CUSIP: 000000000<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |       100 | NS      | $13718.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mahindra & Mahindra Ltd                                                             | Mahindra & Mahindra Ltd                                                               | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |     16459 | NS      | $543147.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** DEUTSCHE DWS VARIABLE SERIES II

**Signature:** Diane Kenneally

**Name of Signer:** Diane Kenneally

**Title:** Treasurer and Chief Financial Officer