# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001752724-23-074171
**Filing Date:** 2023-3
**Character Count:** 69001
**Document Hash:** 851d746d8517f060f53d1fea1506ef21
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-074171.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001752724-23-074171

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20230731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** USAA MUTUAL FUNDS TRUST
- **CENTRAL INDEX KEY:** 0000908695
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07852
- **FILM NUMBER:** 23779313

**BUSINESS ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256
- **BUSINESS PHONE:** 210-697-3625

**MAIL ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX FREE TRUST
- **DATE OF NAME CHANGE:** 19940325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19930707

## Series and Classes Contracts Data

### Value Fund (Series ID: S000012920)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000034890 | Value Fund Shares               | UVALX           |
| C000066845 | Value Fund Institutional Shares | UIVAX           |
| C000220630 | Value Fund Class A              | UAVAX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** USAA Mutual Funds Trust

- **b. Investment Company Act file number:** 811-07852

- **c. CIK number of Registrant:** 0000908695

- **d. LEI of Registrant:** 549300WIDR2J6W1Y9S11

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

  - **Street Address 1:** 15935 La Cantera Pkwy Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-235-8396

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

- **a. Name of Series:** Value Fund

- **b. EDGAR series identifier (if any):** S000012920

- **c. LEI of Series:** 549300F9D3M2P19RXS81

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

- **a. Date of fiscal year-end:** 2023-07-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $1207515676.26

**Total Liabilities:** $3980317.17

**Net Assets:** $1203535359.09

**Cash Not Reported:** $17965286.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000034890 | 5.32%                | -3.79%               | 5.61%                |
| Class ID C000220630 | 5.28%                | -3.78%               | 5.57%                |
| Class ID C000066845 | 5.31%                | -3.79%               | 5.60%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2265387.57              | $56459403.12                               |
| Month 2  | $-1360039.89             | $-45876779.91                              |
| Month 3  | $1941374.91              | $61237683.60                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EXELON CORPORATION                             | EXELON CORP                                | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |    299412 | NS      | $12632192.28  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| VONTIER CORPORATION                            | VONTIER CORP W I                           | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |     90196 | NS      | $2077213.88   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MANPOWERGROUP INC.                             | MANPOWER INC                               | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |     33492 | NS      | $2919162.72   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| EVEREST RE GROUP, LTD.                         | EVEREST RE GROUP LTD                       | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      6900 | NS      | $2412861.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC.                                 | CITIGROUP INC                              | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    107819 | NS      | $5630308.18   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                  | ALPHABET INC CLASS A                       | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    192294 | NS      | $19006338.96  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROUP, INC.                | AFFILIATED MANAGERS GROUP INC              | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |     15904 | NS      | $2747256.96   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| QORVO, INC.                                    | QORVO INC                                  | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     32414 | NS      | $3522105.24   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.                | INTERACTIVE BROKERS GROUP INC              | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |    179100 | NS      | $14317254.00  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| WATERS CORPORATION                             | WATERS CORP                                | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |     10446 | NS      | $3432346.68   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC.                          | KEURIG DR PEPPER INC                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    339992 | NS      | $11994917.76  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LABORATORY CORPORATION OF AMERICA HOLDINGS     | LABORATORY CORP OF AMERICA HOLDINGS        | CUSIP: 50540R409<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | EC               | CORP              | US        |     12959 | NS      | $3267223.08   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND | GLDMN SCHS FIN SQ GV-FST                   | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    285782 | NS      | $285781.65    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORPORATION                            | COMCAST CORP CLASS A                       | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    153454 | NS      | $6038414.90   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC INVESTMENT CORPORATION                    | MGIC INVESTMENT CORP                       | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    325334 | NS      | $4593716.08   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP, INC.                 | AMERICAN FINANCIAL GROUP INC               | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |     18691 | NS      | $2665149.69   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PARCEL SERVICE, INC.                    | UNITED PARCEL SERVICE INC                  | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     27127 | NS      | $5024734.21   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                                 | CONOCOPHILLIPS                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     55560 | NS      | $6771097.20   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LIMITED             | FAIRFAX FINANCIAL HOLDINGS LTD             | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |     46400 | NS      | $30721864.10  | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| DECKERS OUTDOOR CORPORATION                    | DECKERS OUTDOOR CORP                       | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |      4545 | NS      | $1942896.60   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTONATION, INC.                               | AUTONATION INC                             | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23290 | NS      | $2951308.80   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WESTERN UNION COMPANY                      | WESTERN UNION CO                           | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |    143357 | NS      | $2031368.69   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYALTY PHARMA PLC                             | ROYALTY PHARMA PLC                         | CUSIP: G7709Q104<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | GB        |     79945 | NS      | $3133044.55   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEL CORPORATION                              | INTEL CORP                                 | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    142253 | NS      | $4020069.78   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOZ ALLEN HAMILTON HOLDING CORPORATION        | BOOZ ALLEN HAMILTON HOLDINGS               | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     35736 | NS      | $3382055.04   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES, INC.                          | GILEAD SCIENCES INC                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     41151 | NS      | $3454214.94   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MODERNA, INC.                                  | MODERNA INC                                | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |     25423 | NS      | $4475973.38   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY                   | BRISTOL MYERS SQUIBB CO                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     62016 | NS      | $4505462.40   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TYSON FOODS, INC.                              | TYSON FOODS INC CLASS A                    | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     38127 | NS      | $2506850.25   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILDERS FIRSTSOURCE, INC.                     | BUILDERS FIRSTSOURCE INC                   | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     62315 | NS      | $4966505.50   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| DOW INC.                                       | DOW INC                                    | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |    129671 | NS      | $7695973.85   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORPORATION                         | CVS HEALTH CORP                            | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     37719 | NS      | $3327570.18   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                         | SEALED AIR CORP                            | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |    225829 | NS      | $12366396.04  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY AND COMPANY                          | ELI LILLY CO                               | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      7637 | NS      | $2628273.55   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| EMERSON ELECTRIC CO.                           | EMERSON ELECTRIC CO                        | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     50291 | NS      | $4537254.02   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| REALTY INCOME CORPORATION                      | REALTY INCOME CORP                         | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     70309 | NS      | $4769059.47   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                              | JOHNSON JOHNSON                            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    114696 | NS      | $18743620.32  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTINET, INC.                                 | FORTINET INC                               | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     39501 | NS      | $2067482.34   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY COMPANY                             | DTE ENERGY CO                              | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |     40929 | NS      | $4762907.73   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX LABORATORIES, INC.                       | IDEXX LABORATORIES INC                     | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      9704 | NS      | $4662772.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| PDC ENERGY, INC.                               | PDC ENERGY INC                             | CUSIP: 69327R101<br>LEI: 5493008W8H2T511J5Y59 | Long             | EC               | CORP              | US        |     45330 | NS      | $3070200.90   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.                | REGENERON PHARMACEUTICALS INC              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      3671 | NS      | $2784343.37   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL CORPORATION                                | PPL CORP                                   | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |    170457 | NS      | $5045527.20   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK, INC.                                 | AUTODESK INC                               | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     18793 | NS      | $4043501.88   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| THE HOME DEPOT, INC.                           | HOME DEPOT INC                             | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     17585 | NS      | $5700529.45   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI CORPORATION                                | UGI CORP                                   | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |    126468 | NS      | $5037220.44   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| THE HARTFORD FINANCIAL SERVICES GROUP, INC.    | HARTFORD FINANCIAL SERVICES GROUP INC      | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     98942 | NS      | $7678888.62   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY CORPORATION.              | CONSTELLATION ENERGY CORP                  | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     61499 | NS      | $5249554.64   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                    | VERIZON COMMUNICATIONS INC                 | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    142826 | NS      | $5937276.82   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets, Inc.                      | CBOE GLOBAL MARKETS INC                    | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |    107400 | NS      | $13197312.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA HEALTHCARE, INC.                           | HCA HEALTHCARE INC                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     21580 | NS      | $5504410.60   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI INTERNATIONAL INC.                        | CACI INTERNATIONAL INC CLASS A             | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     12607 | NS      | $3884090.63   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL FINANCIAL, INC.              | FIDELITY NATIONAL FINANCIAL                | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |    140865 | NS      | $6202285.95   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| PULTEGROUP, INC.                               | PULTEGROUP INC                             | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68756 | NS      | $3911528.84   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                        | EXXON MOBIL CORP                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    123591 | NS      | $14337791.91  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORPORATION                            | CHEVRON CORP                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25352 | NS      | $4411755.04   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL INFORMATION SERVICES, INC.   | FIDELITY NATIONAL INFORMATION SERVICES INC | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |    205900 | NS      | $15450736.00  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEVELAND-CLIFFS INC.                          | CLEVELAND CLIFFS INC                       | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |    114403 | NS      | $2442504.05   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE COMPANY                      | COLGATE PALMOLIVE CO                       | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     36905 | NS      | $2750529.65   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES, INC.              | EQUITY LIFESTYLE PROPERTIES INC            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     82800 | NS      | $5943384.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M COMPANY                                     | 3M CO                                      | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |     52046 | NS      | $5989453.68   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM! Brands, Inc.                              | YUM BRANDS INC                             | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |     28492 | NS      | $3718490.92   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BATH & BODY WORKS, INC.                        | BATH BODY WORKS INC                        | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     67752 | NS      | $3117269.52   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HOLOGIC, INC.                                  | HOLOGIC INC                                | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |     61566 | NS      | $5009625.42   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| HUMANA INC.                                    | HUMANA INC                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     20295 | NS      | $10384951.50  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                           | JPMORGAN CHASE CO                          | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    142652 | NS      | $19965573.92  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORPORATION    | INTERNATIONAL BUSINESS MACHINES CORP       | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     14427 | NS      | $1943749.71   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                           | MCKESSON CORP                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     22963 | NS      | $8695628.84   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP.                                   | VISTRA CORP                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |    808686 | NS      | $18648299.16  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP.                         | US FOODS HOLDING CORP                      | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    286700 | NS      | $10931871.00  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORPORATION              | CAPITAL ONE FINANCIAL CORP                 | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     47810 | NS      | $5689390.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC.                                      | AT T INC                                   | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    249936 | NS      | $5091196.32   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INCORPORATED.                       | MASTERCARD INC CLASS A                     | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      9140 | NS      | $3387284.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYSTEMS, INC.                   | CADENCE DESIGN SYSTEMS INC                 | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     24486 | NS      | $4476775.38   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON OIL CORPORATION                       | MARATHON OIL CORP                          | CUSIP: 565849106<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | EC               | CORP              | US        |    599961 | NS      | $16480928.67  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC US GOVERNMENT MONEY MARKET FUND           | HSBC US GOVT MMKT-I                        | CUSIP: 40428X107<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    285782 | NS      | $285781.65    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT ACCEPTANCE CORPORATION                  | CREDIT ACCEPTANCE CORPORATION              | CUSIP: 225310101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2523 | NS      | $1167240.72   | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| DUKE ENERGY CORPORATION                        | DUKE ENERGY CORP                           | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     84926 | NS      | $8700668.70   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                             | ALTRIA GROUP INC                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    142258 | NS      | $6407300.32   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| QUEST DIAGNOSTICS INCORPORATED                 | QUEST DIAGNOSTICS INC                      | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |     26978 | NS      | $4005693.44   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties, Inc.            | GAMING AND LEISURE PROPERTIE               | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     76584 | NS      | $4101839.04   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| LOUISIANA-PACIFIC CORPORATION                  | LOUISIANA PACIFIC CORP                     | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |     50857 | NS      | $3462853.13   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BEST BUY CO., INC.                             | BEST BUY CO INC                            | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |     57943 | NS      | $5140702.96   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBERT HALF INTERNATIONAL INC.                 | ROBERT HALF INTERNATIONAL INC              | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |     33699 | NS      | $2829368.04   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI INVESTMENTS COMPANY                        | SEI INVESTMENTS CO                         | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |    102039 | NS      | $6370294.77   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS, INC.                            | CISCO SYSTEMS INC                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    171607 | NS      | $8352112.69   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON CORPORATION PUBLIC LIMITED COMPANY       | EATON CORP PLC                             | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     40200 | NS      | $6520842.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYTHEON TECHNOLOGIES CORPORATION              | RAYTHEON TECHNOLOGIES                      | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     66167 | NS      | $6606774.95   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORPORATION                  | REGIONS FINANCIAL CORP                     | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |    221417 | NS      | $5212156.18   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE PRODUCTS PARTNERS L.P.              | ENTERPRISE PRODUCTS PARTNERS LP            | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             |  | CORP              | US        |    442624 | NS      | $11331174.40  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.               | PHILIP MORRIS INTERNATIONAL INC            | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     83924 | NS      | $8748237.76   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AVALONBAY COMMUNITIES, INC.                    | AVALONBAY COMMUNITIES INC                  | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     19184 | NS      | $3404008.96   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                            | EOG RESOURCES INC                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     30489 | NS      | $4032170.25   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| EAST WEST BANCORP, INC.                        | EAST WEST BANCORP INC                      | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61134 | NS      | $4800241.68   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                  | GOLDMAN SACHS GROUP INC                    | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |     19801 | NS      | $7243403.81   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS, INC.                                 | PROLOGIS INC                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     47151 | NS      | $6095681.28   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MASCO CORPORATION                              | MASCO CORP                                 | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |     69861 | NS      | $3716605.20   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PRIMERICA, INC.                                | PRIMERICA INC                              | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |     21971 | NS      | $3553809.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC INDUSTRIAL DIRECT CO., INC.                | MSC INDUSTRIAL DIRECT CO INC               | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     41171 | NS      | $3404841.70   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIXMOR PROPERTY GROUP INC.                    | BRIXMOR PROPERTY GROUP INC                 | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    170045 | NS      | $4001158.85   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROCTER & GAMBLE COMPANY                   | PROCTER GAMBLE CO                          | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     41865 | NS      | $5960738.70   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| THE KROGER CO.                                 | THE KROGER CO                              | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     75536 | NS      | $3371171.68   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HEALTHCARE TECHNOLOGIES INC.                | GE HEALTHCARE TECHNOLOGIES INC             | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     76800 | NS      | $5339136.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                     | AMERIPRISE FINANCIAL INC                   | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     14761 | NS      | $5168121.32   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY                             | FORD MOTOR CO                              | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |    240545 | NS      | $3249762.95   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG INDUSTRIES, INC.                           | PPG INDUSTRIES INC                         | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     71000 | NS      | $9254140.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC.                                    | ABBVIE INC                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     89800 | NS      | $13267950.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INCORPORATED                          | QUALCOMM INC                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     19967 | NS      | $2659804.07   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.                   | MONDELEZ INTERNATIONAL INC                 | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    190700 | NS      | $12479408.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| The Travelers Companies, Inc.                  | TRAVELERS COMPANIES INC                    | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |     25081 | NS      | $4793480.72   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| WORLD WRESTLING ENTERTAINMENT, INC.            | WORLD WRESTLING ENTERTAINMENT INC          | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |     36819 | NS      | $3115623.78   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SENSATA TECHNOLOGIES HOLDING PLC               | SENSATA TECHNOLOGIES HOLDING               | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |    223200 | NS      | $11349720.00  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL                            | SYNCHRONY FINANCIAL                        | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     95223 | NS      | $3497540.79   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries N.V.                 | LYONDELLBASELL INDUSTRIES NV               | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |     72877 | NS      | $7046477.13   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| HONEYWELL INTERNATIONAL INC.                   | HONEYWELL INTERNATIONAL INC                | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     12669 | NS      | $2641233.12   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORPORATION                    | LOCKHEED MARTIN CORP                       | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      6269 | NS      | $2904176.94   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEETCOR TECHNOLOGIES, INC.                    | FLEETCOR TECHNOLOGIES INC                  | CUSIP: 339041105<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     47194 | NS      | $9854579.14   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ CORPORATION                                | LKQ CORPORATION                            | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |    223510 | NS      | $13178149.60  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MATTEL, INC.                                   | MATTEL INC                                 | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    272300 | NS      | $5571258.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| DICK'S SPORTING GOODS, INC.                    | DICK S SPORTING GOODS INC                  | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |     29670 | NS      | $3879649.20   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| THE SOUTHERN COMPANY                           | SOUTHERN CO                                | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     75607 | NS      | $5117081.76   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| W.W. GRAINGER, INC.                            | WW GRAINGER INC                            | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |      5319 | NS      | $3135444.12   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYWORKS SOLUTIONS, INC.                       | SKYWORKS SOLUTIONS INC                     | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |     35716 | NS      | $3916973.72   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL PAYMENTS INC.                           | GLOBAL PAYMENTS INC                        | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     27300 | NS      | $3077256.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LEIDOS HOLDINGS, INC.                          | LEIDOS HOLDINGS INC                        | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     90800 | NS      | $8974672.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNICOM GROUP INC.                             | OMNICOM GROUP INC                          | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     29223 | NS      | $2512885.77   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH, INC.                          | ELEVANCE HEALTH INC                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     11791 | NS      | $5895382.09   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN & BROWN, INC.                            | BROWN BROWN INC                            | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |    282200 | NS      | $16525632.00  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES INC.                           | VICI PROPERTIES INC                        | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    134917 | NS      | $4611463.06   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS-SONOMA, INC.                          | WILLIAMS SONOMA INC                        | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |     30438 | NS      | $4107303.72   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. BANCORP                                   | US BANCORP                                 | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     80528 | NS      | $4010294.40   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY, INC.                              | ULTA BEAUTY INC                            | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      7291 | NS      | $3747282.36   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED                | UNITEDHEALTH GROUP INC                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     31985 | NS      | $15966592.15  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| OVINTIV INC.                                   | OVINTIV INC                                | CUSIP: 69047Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    192600 | NS      | $9481698.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PUBLIC LIMITED COMPANY               | MEDTRONIC PLC                              | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    166400 | NS      | $13926016.00  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PARKER-HANNIFIN CORPORATION                    | PARKER HANNIFIN CORP                       | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |     25100 | NS      | $8182600.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMMINS INC.                                   | CUMMINS INC                                | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     19716 | NS      | $4919930.64   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| DARDEN RESTAURANTS, INC.                       | DARDEN RESTAURANTS INC                     | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     42500 | NS      | $6288725.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS INSTRUMENTS INCORPORATED                 | TEXAS INSTRUMENTS INC                      | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     29499 | NS      | $5227517.79   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| METTLER-TOLEDO INTERNATIONAL INC.              | METTLER TOLEDO INTERNATIONAL               | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |      3167 | NS      | $4854757.64   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| DELL TECHNOLOGIES INC.                         | DELL TECHNOLOGIES INC                      | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |     53963 | NS      | $2191977.06   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORPORATION                      | UNION PACIFIC CORP                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     23447 | NS      | $4787642.93   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY, INC.                        | MICRON TECHNOLOGY INC                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     47347 | NS      | $2855024.10   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST                   | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    285782 | NS      | $285781.65    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS, INC.                                   | VENTAS INC                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     47506 | NS      | $2461285.86   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC.                  | THERMO FISHER SCIENTIFIC INC               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      3837 | NS      | $2188356.21   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DISCOVER FINANCIAL SERVICES                    | DISCOVER FINANCIAL SERVICES                | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               | CORP              | US        |     41658 | NS      | $4862738.34   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST                      | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    285782 | NS      | $285781.65    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FASTENAL COMPANY                               | FASTENAL CO                                | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     84705 | NS      | $4281837.75   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| THE AES CORPORATION                            | AES CORP                                   | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    148386 | NS      | $4067260.26   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Corporation                             | MARKEL CORP                                | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |     17700 | NS      | $24938946.00  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                    | PROGRESSIVE CORP                           | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    167987 | NS      | $22905027.45  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC.                                     | ADOBE INC                                  | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      7544 | NS      | $2793844.96   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| STEEL DYNAMICS, INC.                           | STEEL DYNAMICS INC                         | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     47373 | NS      | $5715078.72   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MATCH GROUP, INC.                              | MATCH GROUP INC                            | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     59391 | NS      | $3214240.92   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHPEAK PROPERTIES, INC.                    | HEALTHPEAK PROPERTIES INC                  | CUSIP: 42250P103<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | EC               | CORP              | US        |    110587 | NS      | $3038930.76   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERCORE INC.                                  | EVERCORE INC                               | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |     39259 | NS      | $5096210.79   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy, Inc.                                   | EVERGY INC                                 | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     72193 | NS      | $4522891.45   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                              | MERCK CO INC                               | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    189493 | NS      | $20353443.13  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDEX CORPORATION                              | FEDEX CORP                                 | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     44523 | NS      | $8631228.78   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| HESS CORPORATION                               | HESS CORP                                  | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |     71500 | NS      | $10736440.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ALEXANDRIA REAL ESTATE EQUITIES, INC.          | ALEXANDRIA REAL ESTATE EQUITIES INC        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     92527 | NS      | $14872789.98  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                          | WELLS FARGO CO                             | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     49159 | NS      | $2304082.33   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARTER COMMUNICATIONS, INC.                   | CHARTER COMMUNICATIONS INC                 | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      8219 | NS      | $3158643.89   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NUCOR CORPORATION                              | NUCOR CORP                                 | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |     37029 | NS      | $6258641.58   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| WHIRLPOOL CORPORATION                          | WHIRLPOOL CORP                             | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |     25846 | NS      | $4021379.14   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC.                                   | WALMART INC                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     17637 | NS      | $2537435.19   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISIGN, INC.                                 | VERISIGN INC                               | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |     15106 | NS      | $3293863.30   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| OTIS WORLDWIDE CORPORATION                     | OTIS WORLDWIDE CORP                        | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     69621 | NS      | $5724934.83   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW CORPORATION                                | CDW CORP OF DELAWARE                       | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     20031 | NS      | $3926676.93   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS, INC.                           | META PLATFORMS INC                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     86104 | NS      | $12826912.88  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC.                                     | AMGEN INC                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     13160 | NS      | $3321584.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| UBIQUITI INC.                                  | UBIQUITI INC                               | CUSIP: 90353W103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7481 | NS      | $2185648.96   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| PLAYTIKA HOLDING CORP.                         | PLAYTIKA HOLDING CORP                      | CUSIP: 72815L107<br>LEI: 254900E35Z4TKA4UFG64 | Long             | EC               | CORP              | US        |    270464 | NS      | $2837167.36   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CINTAS CORPORATION                             | CINTAS CORP                                | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11245 | NS      | $4989856.30   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORPORATION                              | CIGNA CORP                                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     48231 | NS      | $15273310.77  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOGEN INC.                                    | BIOGEN INC                                 | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |     10469 | NS      | $3045432.10   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYPAL HOLDINGS, INC.                          | PAYPAL HOLDINGS INC                        | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     42153 | NS      | $3435047.97   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PIONEER NATURAL RESOURCES COMPANY              | PIONEER NATURAL RESOURCES CO               | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |     20435 | NS      | $4707202.25   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES, INC.                | UNIVERSAL HEALTH SERVICES                  | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     20395 | NS      | $3022742.95   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| INVITATION HOMES INC.                          | INVITATION HOMES INC                       | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |    252000 | NS      | $8190000.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON CONTROLS INTERNATIONAL PLC             | JOHNSON CONTROLS INTERNATIONAL PLC         | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |    153300 | NS      | $10665081.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGNATURE BANK                                 | SIGNATURE BANK NEW YORK NY                 | CUSIP: 82669G104<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EC               | CORP              | US        |     24614 | NS      | $3173975.30   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION     | COGNIZANT TECHNOLOGY SOLUTIONS CORP        | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     49529 | NS      | $3306060.75   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TARGET CORPORATION                             | TARGET CORP                                | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     28023 | NS      | $4823879.22   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC.                                    | PFIZER INC                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    128706 | NS      | $5683656.96   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMB WESTON HOLDINGS, INC.                     | LAMB WESTON HOLDING INC                    | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     35800 | NS      | $3576062.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ORGANON & CO.                                  | ORGANON CO                                 | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |     99038 | NS      | $2984014.94   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORPORATION                       | STATE STREET CORP                          | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |    117200 | NS      | $10703876.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR INC                                     | PACCAR INC                                 | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     42300 | NS      | $4623813.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                                 | AMDOCS LTD                                 | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |     39040 | NS      | $3588947.20   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| LENNOX INTERNATIONAL INC.                      | LENNOX INTERNATIONAL INC                   | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |     14122 | NS      | $3680475.64   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** USAA Mutual Funds Trust

**Signature:** James K. De Vries

**Name of Signer:** James K. De Vries

**Title:** Treasurer