# EDGAR Filing Document

**Accession Number:** 0001141819
**File Stem:** 0000894189-25-013469
**Filing Date:** 2025-11
**Character Count:** 132665
**Document Hash:** a1d01f719f9d3c296836f48e8bda4692
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-013469.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0000894189-25-013469

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUST FOR PROFESSIONAL MANAGERS
- **CENTRAL INDEX KEY:** 0001141819

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10401
- **FILM NUMBER:** 251472730

**BUSINESS ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4147655067

**MAIL ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZODIAC TRUST
- **DATE OF NAME CHANGE:** 20010601

## Series and Classes Contracts Data

### Mairs & Power Balanced Fund (Series ID: S000076013)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000235438 | Mairs & Power Balanced Fund | MAPOX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Mairs & Power Balanced Fund** | **Mairs & Power Balanced Fund** | **Mairs & Power Balanced Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 62.3%** | **Shares** | **Value**  |
| **Communication Services - 4.1%** | **Communication Services - 4.1%** | |
| Alphabet, Inc. - Class C | 82039 | $19980598 |
| Walt Disney Co. | 81000 | 9274500 |
|  |  | 29255098 |
| **Consumer Discretionary - 3.0%** | **Consumer Discretionary - 3.0%** |  |
| Amazon.com, Inc. <sup>(a)</sup> | 60000 | 13174200 |
| Home Depot, Inc. | 19067 | 7725758 |
|  |  | 20899958 |
| **Consumer Staples - 3.5%** | **Consumer Staples - 3.5%** |  |
| Casey's General Stores, Inc. | 16000 | 9045120 |
| Hershey Co. | 13000 | 2431650 |
| Hormel Foods Corp. | 232474 | 5751407 |
| Procter & Gamble Co. | 37000 | 5685050 |
| Sysco Corp. | 21546 | 1774097 |
|  |  | 24687324 |
| **Financials - 10.1%** | **Financials - 10.1%** |  |
| American Express Co. | 19363 | 6431614 |
| Ameriprise Financial, Inc. | 16000 | 7860000 |
| Fiserv, Inc. <sup>(a)</sup> | 100357 | 12939028 |
| JPMorgan Chase & Co. | 51109 | 16121312 |
| US Bancorp/MN | 91768 | 4435148 |
| Visa, Inc. - Class A | 42011 | 14341715 |
| Wells Fargo & Co. | 107389 | 9001346 |
|  |  | 71130163 |
| **Health Care - 10.7%** | **Health Care - 10.7%** |  |
| Abbott Laboratories | 113843 | 15248131 |
| Bio-Techne Corp. | 106876 | 5945512 |
| Eli Lilly & Co. | 14849 | 11329787 |
| Johnson & Johnson | 47751 | 8853990 |
| Medtronic PLC | 135000 | 12857400 |
| Roche Holding AG - ADR | 197000 | 8236570 |
| UnitedHealth Group, Inc. | 38726 | 13372088 |
|  |  | 75843478 |
| **Industrials - 10.8%** | **Industrials - 10.8%** |  |
| 3M Co. | 6527 | 1012860 |
| Automatic Data Processing, Inc. | 34000 | 9979000 |
| CH Robinson Worldwide, Inc. | 37000 | 4898800 |
| Donaldson Co., Inc. | 28569 | 2338373 |
| Fastenal Co. | 260000 | 12750400 |
| Graco, Inc. | 156826 | 13323937 |
| nVent Electric PLC | 58433 | 5763831 |
| Rockwell Automation, Inc. | 25000 | 8738250 |
| Tennant Co. | 61750 | 5005455 |
| Toro Co. | 160623 | 12239472 |
|  |  | 76050378 |
| **Information Technology - 11.3%** | **Information Technology - 11.3%** |  |
| Entegris, Inc. | 70000 | 6472200 |
| Littelfuse, Inc. | 39750 | 10295648 |
| Microsoft Corp. | 56917 | 29480160 |
| Motorola Solutions, Inc. | 23205 | 10611414 |
| QUALCOMM, Inc. | 26532 | 4413864 |
| Salesforce, Inc. | 7800 | 1848600 |
| Texas Instruments, Inc. | 89000 | 16351970 |
|  |  | 79473856 |
| **Materials - 5.1%** | **Materials - 5.1%** |  |
| Ecolab, Inc. | 61273 | 16780224 |
| HB Fuller Co. | 126525 | 7500402 |
| Sherwin-Williams Co. | 34000 | 11772840 |
|  |  | 36053466 |
| **Utilities - 3.7%** | **Utilities - 3.7%** |  |
| WEC Energy Group, Inc. | 99000 | 11344410 |
| Xcel Energy, Inc. | 184700 | 14896055 |
|  |  | 26240465 |
| **TOTAL COMMON STOCKS** (Cost $236,781,164) | **TOTAL COMMON STOCKS** (Cost $236,781,164) | 439634186 |
| **CORPORATE BONDS - 32.1%** | **Par** | **Value**  |
| **Communication Services - 0.7%** | **Communication Services - 0.7%** | **Communication Services - 0.7%** |
|  AT&T, Inc., 6.45%, 06/15/2034 | 1000000 | 1076190 |
|  Comcast Corp., 4.25%, 01/15/2033 | 2000000 | 1959770 |
|  Netflix, Inc., 5.88%, 11/15/2028 | 1688000 | 1780593 |
|  |  | 4816553 |
| **Communications - 0.8%** | **Communications - 0.8%** | **Communications - 0.8%** |
|  Cox Communications, Inc., 4.80%, 02/01/2035 <sup>(b)</sup> | 1880000 | 1776881 |
|  Discovery Communications LLC, 4.95%, 05/15/2042 | 570000 | 429637 |
|  T-Mobile USA, Inc., 5.75%, 01/15/2034 | 2000000 | 2119885 |
| Warnermedia Holdings, Inc. | Warnermedia Holdings, Inc. | Warnermedia Holdings, Inc. |
| &nbsp;&nbsp; 4.28%, 03/15/2032 | 581000 | 533068 |
| &nbsp;&nbsp; 5.05%, 03/15/2042 | 800000 | 638500 |
|  |  | 5497971 |
| **Consumer Discretionary - 3.6%** | **Consumer Discretionary - 3.6%** | **Consumer Discretionary - 3.6%** |
|  AutoNation, Inc., 3.80%, 11/15/2027 | 1110000 | 1099385 |
|  Block Financial LLC, 3.88%, 08/15/2030 | 1000000 | 963892 |
| Choice Hotels International, Inc. | Choice Hotels International, Inc. | Choice Hotels International, Inc. |
| &nbsp;&nbsp; 3.70%, 12/01/2029 | 1000000 | 955602 |
| &nbsp;&nbsp; 5.85%, 08/01/2034 | 750000 | 767481 |
|  eBay, Inc., 6.30%, 11/22/2032 | 2000000 | 2198601 |
| Ford Motor Co. | Ford Motor Co. | Ford Motor Co. |
| &nbsp;&nbsp; 6.10%, 08/19/2032 | 2000000 | 2050249 |
| &nbsp;&nbsp; 4.75%, 01/15/2043 | 1000000 | 796972 |
|  Ford Motor Credit Co. LLC, 3.63%, 06/17/2031 | 1750000 | 1592722 |
| General Motors Co. | General Motors Co. | General Motors Co. |
| &nbsp;&nbsp; 4.20%, 10/01/2027 | 1000000 | 999789 |
| &nbsp;&nbsp; 5.15%, 04/01/2038 | 1000000 | 957618 |
|  General Motors Financial Co., Inc., 5.75%, 02/08/2031 | 500000 | 521233 |
|  Hasbro, Inc., 3.90%, 11/19/2029 | 2000000 | 1949193 |
|  Lear Corp., 3.80%, 09/15/2027 | 2245000 | 2230339 |
|  Lowe's Cos., Inc., 4.65%, 04/15/2042 | 880000 | 810353 |
|  McDonald's Corp., 3.70%, 02/15/2042 | 1000000 | 821252 |
|  Mohawk Industries, Inc., 3.63%, 05/15/2030 | 2000000 | 1928704 |
|  Stellantis Financial Services US Corp., 4.95%, 09/15/2028 <sup>(b)</sup> | 2000000 | 1999440 |
|  United Airlines 2014-2 Class A Pass Through Trust, Series A, 3.75%, 09/03/2026 | 309493 | 308172 |
| Whirlpool Corp. | Whirlpool Corp. | Whirlpool Corp. |
| &nbsp;&nbsp; 5.75%, 03/01/2034 | 1000000 | 967440 |
| &nbsp;&nbsp; 5.15%, 03/01/2043 | 1100000 | 920210 |
|  Wildlife Conservation Society, 3.41%, 08/01/2050 | 1000000 | 658296 |
|  |  | 25496943 |
| **Consumer Staples - 0.9%** | **Consumer Staples - 0.9%** | **Consumer Staples - 0.9%** |
|  Land O' Lakes Capital Trust I, 7.45%, 03/15/2028 <sup>(b)</sup> | 1949000 | 2019979 |
| Land O' Lakes, Inc. | Land O' Lakes, Inc. | Land O' Lakes, Inc. |
| &nbsp;&nbsp; 7.25%, Perpetual <sup>(b)</sup> | 2500000 | 2275000 |
| &nbsp;&nbsp; 7.00%, Perpetual <sup>(b)</sup> | 2500000 | 2181250 |
|  |  | 6476229 |
| **Energy - 1.2%** | **Energy - 1.2%** | **Energy - 1.2%** |
| Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP |
| &nbsp;&nbsp; 5.80%, 03/15/2035 | 1200000 | 1258614 |
| &nbsp;&nbsp; 6.95%, 01/15/2038 | 1000000 | 1126649 |
|  Kinder Morgan, Inc., 5.30%, 12/01/2034 | 1200000 | 1224409 |
|  Murphy Oil Corp., 5.88%, 12/01/2042 <sup>(c)</sup> | 500000 | 437288 |
|  Northern Natural Gas Co., 4.10%, 09/15/2042 <sup>(b)</sup> | 1021000 | 838211 |
|  ONEOK Partners LP, 6.20%, 09/15/2043 | 1203000 | 1236402 |
|  ONEOK, Inc., 6.00%, 06/15/2035 | 1000000 | 1053210 |
|  Sabal Trail Transmission LLC, 4.68%, 05/01/2038 <sup>(b)</sup> | 1000000 | 935758 |
|  |  | 8110541 |
| **Financials - 11.0%** | **Financials - 11.0%** | **Financials - 11.0%** |
|  AmFam Holdings, Inc., 2.81%, 03/11/2031 <sup>(b)</sup> | 1540000 | 1339044 |
|  Associated Banc-Corp., 6.46% to 08/29/2029 then SOFR + 3.03%, 08/29/2030 | 1151000 | 1193740 |
| Assurant, Inc. | Assurant, Inc. | Assurant, Inc. |
| &nbsp;&nbsp; 3.70%, 02/22/2030 | 1500000 | 1455407 |
| &nbsp;&nbsp; 2.65%, 01/15/2032 | 1000000 | 878624 |
| Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
| &nbsp;&nbsp; 5.02% to 07/22/2032 then SOFR + 2.16%, 07/22/2033 | 1000000 | 1022491 |
| &nbsp;&nbsp; 4.00%, 08/15/2034 | 538000 | 512146 |
| &nbsp;&nbsp; 2.48% to 09/21/2031 then 5 yr. CMT Rate + 1.20%, 09/21/2036 | 1900000 | 1650355 |
|  Bank of Montreal, 3.09% to 01/10/2032 then 5 yr. CMT Rate + 1.40%, 01/10/2037 | 2150000 | 1916709 |
|  Blackstone Holdings Finance Co. LLC, 2.55%, 03/30/2032 <sup>(b)</sup> | 1000000 | 883145 |
| Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |
| &nbsp;&nbsp; 5.25% to 07/26/2029 then SOFR + 2.60%, 07/26/2030 | 3000000 | 3085137 |
| &nbsp;&nbsp; 6.18% to 01/30/2035 then SOFR + 2.04%, 01/30/2036 | 2000000 | 2075855 |
|  CBRE Services, Inc., 5.95%, 08/15/2034 | 2000000 | 2134370 |
|  Charles Schwab Corp., 4.00% to 12/01/2030 then 10 yr. CMT Rate + 3.08%, Perpetual | 2000000 | 1879822 |
|  Cincinnati Financial Corp., 6.13%, 11/01/2034 | 1301000 | 1399647 |
|  Citigroup, Inc., 3.07% to 02/24/2027 then SOFR + 1.28%, 02/24/2028 | 500000 | 492497 |
|  CNA Financial Corp., 5.50%, 06/15/2033 | 2000000 | 2077311 |
|  Farmers Exchange Capital, 7.05%, 07/15/2028 <sup>(b)</sup> | 1650000 | 1738718 |
|  First American Financial Corp., 5.45%, 09/30/2034 | 1000000 | 1003827 |
|  First National of Nebraska, Inc., 7.25% to 06/15/2030 then 3 mo. Term SOFR + 3.61%, 06/15/2035 <sup>(b)</sup> | 750000 | 778314 |
|  FMR LLC, 6.45%, 11/15/2039 <sup>(b)</sup> | 1141000 | 1266471 |
|  Fulton Financial Corp., 3.75% to 03/15/2030 then 3 mo. Term SOFR + 2.70%, 03/15/2035 | 3000000 | 2599699 |
| Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. |
| &nbsp;&nbsp; 5.22% to 04/23/2030 then SOFR + 1.58%, 04/23/2031 | 500000 | 517118 |
| &nbsp;&nbsp; 2.65% to 10/21/2031 then SOFR + 1.26%, 10/21/2032 | 2000000 | 1799866 |
| Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. | Hanover Insurance Group, Inc. |
| &nbsp;&nbsp; 2.50%, 09/01/2030 | 2500000 | 2258089 |
| &nbsp;&nbsp; 5.50%, 09/01/2035 | 1000000 | 1012506 |
|  Hartford Insurance Group, Inc., 6.63%, 04/15/2042 | 2300000 | 2510740 |
| JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
| &nbsp;&nbsp; 3.65% to 06/01/2026 then 5 yr. CMT Rate + 2.85%, Perpetual | 3000000 | 2961321 |
| &nbsp;&nbsp; 4.13%, 12/15/2026 | 1000000 | 1000927 |
| LPL Holdings, Inc. | LPL Holdings, Inc. | LPL Holdings, Inc. |
| &nbsp;&nbsp; 6.00%, 05/20/2034 | 2000000 | 2091661 |
| &nbsp;&nbsp; 5.75%, 06/15/2035 | 1000000 | 1026264 |
| M&T Bank Corp. | M&T Bank Corp. | M&T Bank Corp. |
| &nbsp;&nbsp; 5.13% to 11/01/2026 then 3 mo. Term SOFR + 3.78%, Perpetual | 1000000 | 1001100 |
| &nbsp;&nbsp; 5.18% to 07/08/2030 then SOFR + 1.40%, 07/08/2031 | 2000000 | 2049291 |
|  Mercury General Corp., 4.40%, 03/15/2027 | 4000000 | 3980721 |
| Morgan Stanley | Morgan Stanley | Morgan Stanley |
| &nbsp;&nbsp; 2.94% to 01/21/2032 then SOFR + 1.29%, 01/21/2033 | 1700000 | 1545860 |
| &nbsp;&nbsp; 2.48% to 09/16/2031 then SOFR + 1.36%, 09/16/2036 | 750000 | 652011 |
| Old Republic International Corp. | Old Republic International Corp. | Old Republic International Corp. |
| &nbsp;&nbsp; 3.88%, 08/26/2026 | 790000 | 787313 |
| &nbsp;&nbsp; 5.75%, 03/28/2034 | 1000000 | 1043243 |
|  Penn Mutual Life Insurance Co., 6.65%, 06/15/2034 <sup>(b)</sup> | 470000 | 501874 |
| Penske Truck Leasing Co. Lp / PTL Finance Corp. | Penske Truck Leasing Co. Lp / PTL Finance Corp. | Penske Truck Leasing Co. Lp / PTL Finance Corp. |
| &nbsp;&nbsp; 5.70%, 02/01/2028 <sup>(b)</sup> | 500000 | 514561 |
| &nbsp;&nbsp; 6.05%, 08/01/2028 <sup>(b)</sup> | 500000 | 522289 |
|  PNC Financial Services Group, Inc., 3.40% to 09/15/2026 then 5 yr. CMT Rate + 2.60%, Perpetual | 4000000 | 3888282 |
|  Principal Financial Group, Inc., 4.35%, 05/15/2043 | 500000 | 441444 |
|  Selective Insurance Group, Inc., 5.90%, 04/15/2035 | 1500000 | 1560211 |
| Synchrony Financial | Synchrony Financial | Synchrony Financial |
| &nbsp;&nbsp; 5.94% to 08/02/2029 then SOFR + 2.13%, 08/02/2030 | 1000000 | 1037236 |
| &nbsp;&nbsp; 2.88%, 10/28/2031 | 1000000 | 886213 |
| US Bancorp | US Bancorp | US Bancorp |
| &nbsp;&nbsp; 5.85% to 10/21/2032 then SOFR + 2.09%, 10/21/2033 | 2000000 | 2133952 |
| &nbsp;&nbsp; 2.49% to 11/03/2031 then 5 yr. CMT Rate + 0.95%, 11/03/2036 | 2000000 | 1724900 |
| Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
| &nbsp;&nbsp; 4.10%, 06/03/2026 | 1000000 | 999403 |
| &nbsp;&nbsp; 5.71% to 04/22/2027 then SOFR + 1.07%, 04/22/2028 | 2000000 | 2046722 |
|  Wintrust Financial Corp., 4.85%, 06/06/2029 | 3500000 | 3449168 |
|  |  | 77327615 |
| **Health Care - 1.5%** | **Health Care - 1.5%** | **Health Care - 1.5%** |
|  Bristol-Myers Squibb Co., 2.35%, 11/13/2040 | 1500000 | 1054210 |
| CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
| &nbsp;&nbsp; 4.78%, 03/25/2038 | 1400000 | 1312977 |
| &nbsp;&nbsp; 2.70%, 08/21/2040 | 1500000 | 1068123 |
|  DENTSPLY SIRONA, Inc., 3.25%, 06/01/2030 | 1000000 | 920476 |
|  Humana, Inc., 5.95%, 03/15/2034 | 1000000 | 1052169 |
|  Laboratory Corp. of America Holdings, 4.55%, 04/01/2032 | 1000000 | 995469 |
|  Quest Diagnostics, Inc., 6.40%, 11/30/2033 | 500000 | 555103 |
|  UnitedHealth Group, Inc., 6.50%, 06/15/2037 | 2000000 | 2240171 |
|  Viatris, Inc., 2.30%, 06/22/2027 | 1500000 | 1444296 |
|  |  | 10642994 |
| **Industrials - 3.4%** | **Industrials - 3.4%** | **Industrials - 3.4%** |
|  Ashtead Capital, Inc., 5.80%, 04/15/2034 <sup>(b)</sup> | 1000000 | 1048558 |
|  Delta Air Lines, Inc., 5.25%, 07/10/2030 | 3000000 | 3062230 |
|  Eaton Corp., 4.00%, 11/02/2032 | 2000000 | 1959920 |
|  Equifax, Inc., 7.00%, 07/01/2037 | 2000000 | 2262208 |
|  FedEx Corp., 4.10%, 04/15/2043 | 1000000 | 797903 |
| GATX Corp. | GATX Corp. | GATX Corp. |
| &nbsp;&nbsp; 4.90%, 03/15/2033 | 1000000 | 1006354 |
| &nbsp;&nbsp; 5.45%, 09/15/2033 | 1000000 | 1031707 |
| &nbsp;&nbsp; 6.05%, 03/15/2034 | 500000 | 535920 |
| &nbsp;&nbsp; 6.90%, 05/01/2034 | 500000 | 563479 |
|  Hillenbrand, Inc., 3.75%, 03/01/2031 | 2500000 | 2358394 |
|  Kennametal, Inc., 4.63%, 06/15/2028 | 1500000 | 1511280 |
|  Leidos Holdings, Inc., 5.95%, 12/01/2040 | 1400000 | 1438800 |
|  nVent Finance Sarl, 5.65%, 05/15/2033 | 1495000 | 1561684 |
|  Quanta Services, Inc., 5.25%, 08/09/2034 | 1000000 | 1026258 |
|  Resideo Funding, Inc., 6.50%, 07/15/2032 <sup>(b)</sup> | 1000000 | 1026000 |
|  Steelcase, Inc., 5.13%, 01/18/2029 | 1375000 | 1373350 |
|  Toro Co., 7.80%, 06/15/2027 | 500000 | 530108 |
|  United Rentals North America, Inc., 3.75%, 01/15/2032 | 1000000 | 927087 |
|  |  | 24021240 |
| **Information Technology - 3.0%** | **Information Technology - 3.0%** | **Information Technology - 3.0%** |
|  Analog Devices, Inc., 2.80%, 10/01/2041 | 1000000 | 740135 |
|  Autodesk, Inc., 2.40%, 12/15/2031 | 1000000 | 886816 |
| Avnet, Inc. | Avnet, Inc. | Avnet, Inc. |
| &nbsp;&nbsp; 3.00%, 05/15/2031 | 2000000 | 1812608 |
| &nbsp;&nbsp; 5.50%, 06/01/2032 | 1000000 | 1019540 |
|  Broadcom, Inc., 4.93%, 05/15/2037 <sup>(b)</sup> | 1500000 | 1496751 |
|  Entegris, Inc., 4.75%, 04/15/2029 <sup>(b)</sup> | 3000000 | 2977850 |
|  Fortinet, Inc., 2.20%, 03/15/2031 | 1500000 | 1337124 |
| HP, Inc. | HP, Inc. | HP, Inc. |
| &nbsp;&nbsp; 2.65%, 06/17/2031 | 1000000 | 902633 |
| &nbsp;&nbsp; 5.50%, 01/15/2033 | 2000000 | 2072754 |
| Micron Technology, Inc. | Micron Technology, Inc. | Micron Technology, Inc. |
| &nbsp;&nbsp; 5.88%, 02/09/2033 | 500000 | 531323 |
| &nbsp;&nbsp; 6.05%, 11/01/2035 | 500000 | 534755 |
| Motorola Solutions, Inc. | Motorola Solutions, Inc. | Motorola Solutions, Inc. |
| &nbsp;&nbsp; 4.60%, 02/23/2028 | 2500000 | 2527556 |
| &nbsp;&nbsp; 5.50%, 09/01/2044 | 2000000 | 1996179 |
|  Oracle Corp., 3.60%, 04/01/2040 | 3000000 | 2410267 |
|  |  | 21246291 |
| **Materials - 1.9%** | **Materials - 1.9%** | **Materials - 1.9%** |
| Albemarle Corp. | Albemarle Corp. | Albemarle Corp. |
| &nbsp;&nbsp; 5.05%, 06/01/2032 | 850000 | 840073 |
| &nbsp;&nbsp; 5.45%, 12/01/2044 | 325000 | 293799 |
|  Albemarle Wodgina Pty Ltd., 3.45%, 11/15/2029 | 1175000 | 1093299 |
| Cabot Corp. | Cabot Corp. | Cabot Corp. |
| &nbsp;&nbsp; 3.40%, 09/15/2026 | 1500000 | 1487394 |
| &nbsp;&nbsp; 4.00%, 07/01/2029 | 1800000 | 1776407 |
|  Celanese US Holdings LLC, 7.20%, 11/15/2033 <sup>(c)</sup> | 2000000 | 2078352 |
|  Eastman Chemical Co., 5.63%, 02/20/2034 | 1000000 | 1030274 |
|  HB Fuller Co., 4.25%, 10/15/2028 | 1700000 | 1654487 |
| International Flavors & Fragrances, Inc. | International Flavors & Fragrances, Inc. | International Flavors & Fragrances, Inc. |
| &nbsp;&nbsp; 1.83%, 10/15/2027 <sup>(b)</sup> | 486000 | 462552 |
| &nbsp;&nbsp; 3.27%, 11/15/2040 <sup>(b)</sup> | 1000000 | 762739 |
|  Mosaic Co., 5.45%, 11/15/2033 | 2000000 | 2068797 |
|  |  | 13548173 |
| **Technology - 0.8%** | **Technology - 0.8%** | **Technology - 0.8%** |
|  CDW LLC / CDW Finance Corp., 5.55%, 08/22/2034 | 1000000 | 1025035 |
|  Dell, Inc., 5.40%, 09/10/2040 | 1000000 | 983974 |
|  Leidos, Inc., 5.50%, 07/01/2033 | 3850000 | 3945178 |
|  |  | 5954187 |
| **Utilities - 3.3%** | **Utilities - 3.3%** | **Utilities - 3.3%** |
|  Alliant Energy Finance LLC, 3.60%, 03/01/2032 <sup>(b)</sup> | 1000000 | 925726 |
|  Ameren Corp., 5.38%, 03/15/2035 | 1000000 | 1027348 |
| Black Hills Corp. | Black Hills Corp. | Black Hills Corp. |
| &nbsp;&nbsp; 4.35%, 05/01/2033 | 1000000 | 964577 |
| &nbsp;&nbsp; 6.15%, 05/15/2034 | 2000000 | 2141034 |
|  Duke Energy Carolinas LLC, 6.10%, 06/01/2037 | 1000000 | 1075539 |
|  Duke Energy Progress LLC, 5.70%, 04/01/2035 | 1165000 | 1226034 |
|  Great River Energy, 7.23%, 07/01/2038 <sup>(b)</sup> | 706140 | 756294 |
| Interstate Power and Light Co. | Interstate Power and Light Co. | Interstate Power and Light Co. |
| &nbsp;&nbsp; 6.30%, 05/01/2034 | 1000000 | 1074030 |
| &nbsp;&nbsp; 6.25%, 07/15/2039 | 2000000 | 2167411 |
|  ITC Holdings Corp., 5.40%, 06/01/2033 <sup>(b)</sup> | 1045000 | 1083348 |
|  Niagara Mohawk Power Corp., 4.28%, 10/01/2034 <sup>(b)</sup> | 2000000 | 1899652 |
|  Public Service Co. of Colorado, 6.50%, 08/01/2038 | 2000000 | 2224844 |
|  Public Service Co. of Oklahoma, 5.20%, 01/15/2035 | 1000000 | 1013978 |
|  Southwestern Public Service Co., 6.00%, 10/01/2036 | 1000000 | 1038342 |
|  Toledo Edison Co., 2.65%, 05/01/2028 <sup>(b)</sup> | 416000 | 395117 |
| Virginia Electric and Power Co. | Virginia Electric and Power Co. | Virginia Electric and Power Co. |
| &nbsp;&nbsp; 6.35%, 11/30/2037 | 1065000 | 1174485 |
| &nbsp;&nbsp; 4.00%, 01/15/2043 | 1000000 | 837038 |
|  Wisconsin Power and Light Co., 4.95%, 04/01/2033 | 1000000 | 1013651 |
|  Xcel Energy, Inc., 5.60%, 04/15/2035 | 1000000 | 1038342 |
|  |  | 23076790 |
| **TOTAL CORPORATE BONDS** (Cost $229,420,237) | **TOTAL CORPORATE BONDS** (Cost $229,420,237) | 226215527 |
| **U.S. TREASURY SECURITIES - 2.4%** | **Par** | **Value**  |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 0.75%, 03/31/2026 | 1000000 | 984853 |
| &nbsp;&nbsp; 0.75%, 04/30/2026 | 1000000 | 982556 |
| &nbsp;&nbsp; 1.13%, 10/31/2026 | 1000000 | 972813 |
| &nbsp;&nbsp; 2.63%, 05/31/2027 | 3000000 | 2951074 |
| &nbsp;&nbsp; 1.25%, 06/30/2028 | 1000000 | 938672 |
| &nbsp;&nbsp; 1.00%, 07/31/2028 | 1000000 | 930078 |
| &nbsp;&nbsp; 1.25%, 09/30/2028 | 1000000 | 933105 |
| &nbsp;&nbsp; 2.63%, 02/15/2029 | 2000000 | 1935859 |
| &nbsp;&nbsp; 1.38%, 11/15/2031 | 2000000 | 1731875 |
| &nbsp;&nbsp; 2.88%, 05/15/2032 | 2000000 | 1880977 |
| &nbsp;&nbsp; 4.25%, 05/15/2035 | 1500000 | 1514062 |
| &nbsp;&nbsp; 3.25%, 05/15/2042 | 1000000 | 839961 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $16,849,831) | **TOTAL U.S. TREASURY SECURITIES** (Cost $16,849,831) | 16595885 |
| **MUNICIPAL BONDS - 1.8%** | **Par** | **Value**  |
|  Borough of Naugatuck CT, 3.09%, 09/15/2046 | 1000000 | 705943 |
|  Crowley Independent School District, 3.01%, 08/01/2038 | 1000000 | 850957 |
|  DeKalb Kane & LaSalle Counties Etc Community College District No 523 Kishwaukee, 3.02%, 02/01/2036 | 500000 | 426881 |
|  Desert Community College District, 2.46%, 08/01/2040 | 300000 | 227553 |
|  Glendale Community College District, 2.11%, 08/01/2031 | 650000 | 576543 |
|  Idaho Bond Bank Authority, 2.35%, 09/15/2038 | 500000 | 396366 |
| Iowa Finance Authority | Iowa Finance Authority | Iowa Finance Authority |
| &nbsp;&nbsp; 5.24%, 01/01/2035 | 500000 | 506891 |
| &nbsp;&nbsp; 5.28%, 07/01/2035 | 600000 | 608651 |
|  Massachusetts Development Finance Agency, 2.55%, 05/01/2040 | 885000 | 661587 |
|  Michigan State Housing Development Authority, 4.12%, 12/01/2030 | 500000 | 501070 |
|  Michigan State University, 4.50%, 08/15/2048 | 1000000 | 910203 |
| Minnesota Housing Finance Agency | Minnesota Housing Finance Agency | Minnesota Housing Finance Agency |
| &nbsp;&nbsp; 5.41%, 07/01/2035 | 980000 | 1000379 |
| &nbsp;&nbsp; 5.00%, 01/01/2036 | 400000 | 397527 |
| &nbsp;&nbsp; 5.05%, 07/01/2036 | 480000 | 477123 |
| North Dakota Housing Finance Agency | North Dakota Housing Finance Agency | North Dakota Housing Finance Agency |
| &nbsp;&nbsp; 5.63%, 07/01/2035 | 300000 | 309510 |
| &nbsp;&nbsp; 5.68%, 01/01/2036 | 630000 | 650030 |
|  Pierre School District No 32-2, 2.04%, 08/01/2033 | 920000 | 796896 |
|  Redondo Beach Unified School District, 2.04%, 08/01/2034 | 500000 | 410352 |
|  Socorro Independent School District, 2.13%, 08/15/2031 | 500000 | 444844 |
|  Village of Ashwaubenon WI, 2.97%, 06/01/2040 | 505000 | 404435 |
|  Woodbury County Law Enforcement Center Authority, 3.09%, 06/01/2040 | 750000 | 604125 |
|  Worthington Independent School District No 518, 3.30%, 02/01/2039 | 850000 | 743002 |
| **TOTAL MUNICIPAL BONDS** (Cost $14,353,062) | **TOTAL MUNICIPAL BONDS** (Cost $14,353,062) | 12610868 |
| **ASSET-BACKED SECURITIES - 0.5%** | **Par** | **Value**  |
| American Airlines Group, Inc. | American Airlines Group, Inc. | American Airlines Group, Inc. |
| &nbsp;&nbsp; 3.60%, 09/22/2027 | 105584 | 103554 |
| &nbsp;&nbsp; Series 2014-1, 3.70%, 10/01/2026 | 895898 | 889179 |
| &nbsp;&nbsp; Series 2015-1, 3.38%, 05/01/2027 | 232277 | 228170 |
| &nbsp;&nbsp; Series 2015-2, 4.00%, 09/22/2027 | 344248 | 336449 |
| &nbsp;&nbsp; Series 2016-3B, 3.75%, 10/15/2025 | 337124 | 337111 |
|  British Airways PLC, Series 2018-1, 4.13%, 09/20/2031 <sup>(b)</sup> | 500806 | 488321 |
|  Hawaiian Holdings, Inc., Series 2013-1, 3.90%, 01/15/2026 | 1018680 | 1014223 |
|  Spirit Airlines, Inc., Series 2015-1, 4.10%, 04/01/2028 | 66259 | 63491 |
|  United Airlines, Inc., Series A, 4.00%, 04/11/2026 | 389739 | 388776 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $3,868,561) | **TOTAL ASSET-BACKED SECURITIES** (Cost $3,868,561) | 3849274 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.7%** | **Shares** | **Value**  |
| First American Government Obligations Fund - Class X, 4.05%<sup>(d)</sup> | 4586377 | 4586377 |
| **TOTAL MONEY MARKET FUNDS** (Cost $4,586,377) | **TOTAL MONEY MARKET FUNDS** (Cost $4,586,377) | 4586377 |
| **TOTAL INVESTMENTS - 99.8% (**Cost $505,859,232**)** | **TOTAL INVESTMENTS - 99.8% (**Cost $505,859,232**)** | 703492117 |
| Other Assets in Excess of Liabilities - 0.2% | Other Assets in Excess of Liabilities - 0.2% | 1640171 |
| **TOTAL NET ASSETS - 100.0%** |  | $705132288 |
| two | two | –% |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

---

| |
|:---|
| ADR - American Depositary Receipt |
| CMT - Constant Maturity Treasury |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| SOFR - Secured Overnight Financing Rate |

---

(a) Non-income producing security.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of September 30, 2025, the value of these securities total $32,893,843 or 4.7% of the Fund's net assets.

(c) Step coupon bond. The rate disclosed is as of September 30, 2025.

(d) The rate shown represents the 7-day annualized yield as of September 30, 2025.

------

#### Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)
Mairs & Power Balanced Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $439634186 | $– | $– | $439634186 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 226215527 | – | 226215527 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | – | 16595885 | – | 16595885 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Municipal Bonds | – | 12610868 | – | 12610868 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | – | 3849274 | – | 3849274 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 4586377 | – | – | 4586377 |
| Total Investments | $444220563 | $259271554 | $– | $703492117 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Trust for Professional Managers

- **b. Investment Company Act file number:** 811-10401

- **c. CIK number of Registrant:** 0001141819

- **d. LEI of Registrant:** 549300O1N816L3GGRD45

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 513-520-5925

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

- **a. Name of Series:** Mairs & Power Balanced Fund

- **b. EDGAR series identifier (if any):** S000076013

- **c. LEI of Series:** 549300A8RKN43GUVKK54

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

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

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $707114012.97

**Total Liabilities:** $1840099.81

**Net Assets:** $705273913.16

**Delayed Delivery Securities:** $1380000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 802.868745000000 | **1-Year:** 9406.601099000000 | **5-Year:** 46384.970333000000 | **10-Year:** 65669.890808000000 | **30-Year:** 9656.754071000000

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

- **3-Month:** 1335.339429000000 | **1-Year:** 3675.044730000000 | **5-Year:** 2501.739282000000 | **10-Year:** 2800.288020000000 | **30-Year:** 834.521279000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000235438 | -0.06%               | 2.60%                | 1.14%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $7679225.04              | $-9129949.03                               |
| Month 2  | $7596963.59              | $9193067.92                                |
| Month 3  | $1701384.59              | $5114932.70                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALBEMARLE WOD PTY LTD          | Albemarle Wodgina Pty Ltd                                                       | CUSIP: 01273PAB8<br>LEI: 25490061SXKXCH8MR021 | Long             | DBT              | CORP              | AU        |   1175000 | PA      | $1093298.71   | 0.16%             | 2029-11-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ASSURANT INC                   | Assurant Inc                                                                    | CUSIP: 04621XAM0<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1455407.16   | 0.21%             | 2030-02-22      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP               | Black Hills Corp                                                                | CUSIP: 092113AW9<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2141033.64   | 0.30%             | 2034-05-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BLOCK FINANCIAL LLC            | Block Financial LLC                                                             | CUSIP: 093662AH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $963892.22    | 0.14%             | 2030-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                   | Broadcom Inc                                                                    | CUSIP: 11135FBV2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1496750.73   | 0.21%             | 2037-05-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE            | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1025035.00   | 0.15%             | 2034-08-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC       | Celanese US Holdings LLC                                                        | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2078352.00   | 0.29%             | 2033-11-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| CINCINNATI FINL CORP           | Cincinnati Financial Corp                                                       | CUSIP: 172062AE1<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | DBT              | CORP              | US        |   1301000 | PA      | $1399646.62   | 0.20%             | 2034-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Donaldson Co Inc               | Donaldson Co Inc                                                                | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     28569 | NS      | $2338372.65   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMERS EXCHANGE CAPITAL       | Farmers Exchange Capital                                                        | CUSIP: 309588AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1738717.78   | 0.25%             | 2028-07-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Fastenal Co                    | Fastenal Co                                                                     | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    260000 | NS      | $12750400.00  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                     | Fiserv Inc                                                                      | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |    100357 | NS      | $12939028.01  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY             | Ford Motor Co                                                                   | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2050249.44   | 0.29%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDI               | Ford Motor Credit Co LLC                                                        | CUSIP: 345397B69<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1592722.16   | 0.23%             | 2031-06-17      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| FORTINET INC                   | Fortinet Inc                                                                    | CUSIP: 34959EAB5<br>LEI: 549300O0QJWDBAS0QX03 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1337124.09   | 0.19%             | 2031-03-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| HB Fuller Co                   | HB Fuller Co                                                                    | CUSIP: 359694106<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | EC               | CORP              | US        |    126525 | NS      | $7500402.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX CORP                      | GATX Corp                                                                       | CUSIP: 361448BN2<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    500000 | PA      | $563478.91    | 0.08%             | 2034-05-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO              | General Motors Co                                                               | CUSIP: 37045VAP5<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $957618.29    | 0.14%             | 2038-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HANOVER INSURANCE GROUP        | Hanover Insurance Group Inc/The                                                 | CUSIP: 410867AH8<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1012505.46   | 0.14%             | 2035-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAND O LAKES CAP TRST I        | Land O'Lakes Capital Trust I                                                    | CUSIP: 514665AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1949000 | PA      | $2019978.68   | 0.29%             | 2028-03-15      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| NAUGATUCK CT                   | Borough of Naugatuck CT                                                         | CUSIP: 639064B60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $705942.80    | 0.10%             | 2046-09-15      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                    | Netflix Inc                                                                     | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   1688000 | PA      | $1780592.93   | 0.25%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PENN MUTUAL LIFE INS CO        | Penn Mutual Life Insurance Co/The                                               | CUSIP: 707567AA1<br>LEI: BIYXEJSLUQ3IWFUXX074 | Long             | DBT              | CORP              | US        |    470000 | PA      | $501873.65    | 0.07%             | 2034-06-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL       | Penske Truck Leasing Co Lp / PTL Finance Corp                                   | CUSIP: 709599BS2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $514560.94    | 0.07%             | 2028-02-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| PIERRE SD SCH DIST #32-2       | Pierre School District No 32-2                                                  | CUSIP: 720871FW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $796895.63    | 0.11%             | 2033-08-01      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FINANCIAL SER       | Stellantis Financial Services US Corp                                           | CUSIP: 85855FAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1999439.54   | 0.28%             | 2028-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| US Bancorp                     | US Bancorp                                                                      | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     91768 | NS      | $4435147.44   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 9128286B1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1935859.38   | 0.27%             | 2029-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CCH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $938671.88    | 0.13%             | 2028-06-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO       | Virginia Electric and Power Co                                                  | CUSIP: 927804FE9<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1174484.74   | 0.17%             | 2037-11-30      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                 | Whirlpool Corp                                                                  | CUSIP: 963320BC9<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $967440.50    | 0.14%             | 2034-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Ameriprise Financial Inc       | Ameriprise Financial Inc                                                        | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     16000 | NS      | $7860000.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KENNAMETAL INC                 | Kennametal Inc                                                                  | CUSIP: 489170AE0<br>LEI: 549300GZDSG25XUV0Y08 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1511279.54   | 0.21%             | 2028-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENER PART        | Kinder Morgan Energy Partners LP                                                | CUSIP: 494550AW6<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1126648.80   | 0.16%             | 2038-01-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC       | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    800000 | PA      | $638500.00    | 0.09%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM        | United Rentals North America Inc                                                | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $927087.30    | 0.13%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AMFAM HOLDINGS INC             | AmFam Holdings Inc                                                              | CUSIP: 03115AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1540000 | PA      | $1339044.28   | 0.19%             | 2031-03-11      | Fixed         | 2.81%                 | No            |                  2 | On Loan: No      |
| AUTODESK INC                   | Autodesk Inc                                                                    | CUSIP: 052769AH9<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $886815.81    | 0.13%             | 2031-12-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CBT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $984852.74    | 0.14%             | 2026-03-31      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | PA      | $1514062.50   | 0.21%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO       | Virginia Electric and Power Co                                                  | CUSIP: 927804FL3<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $837037.67    | 0.12%             | 2043-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group Inc           | WEC Energy Group Inc                                                            | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     99000 | NS      | $11344410.00  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTONATION INC                 | AutoNation Inc                                                                  | CUSIP: 05329WAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1099384.60   | 0.16%             | 2027-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                                            | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1022491.18   | 0.14%             | 2033-07-22      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| CABOT CORP                     | Cabot Corp                                                                      | CUSIP: 127055AL5<br>LEI: K05C0SER542GQ6VLRO68 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1776407.26   | 0.25%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEKALB/KANE/LA SALLE CNTYS ILC | DeKalb Kane & LaSalle Counties Etc Community College District No 523 Kishwaukee | CUSIP: 240853EV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $426880.65    | 0.06%             | 2036-02-01      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT        | Wisconsin Power and Light Co                                                    | CUSIP: 976826BR7<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1013651.01   | 0.14%             | 2033-04-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| WOODBURY CNTY IA LAW ENFORCEME | Woodbury County Law Enforcement Center Authority                                | CUSIP: 979079AQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $604125.30    | 0.09%             | 2040-06-01      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| DENTSPLY SIRONA INC            | DENTSPLY SIRONA Inc                                                             | CUSIP: 24906PAA7<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $920475.60    | 0.13%             | 2030-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DESERT CMNTY CLG DIST CA       | Desert Community College District                                               | CUSIP: 250375KG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $227553.00    | 0.03%             | 2040-08-01      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                     | FedEx Corp                                                                      | CUSIP: 31428XAU0<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $797903.14    | 0.11%             | 2043-04-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| FIRST AMERICAN FINANCIAL       | First American Financial Corp                                                   | CUSIP: 31847RAJ1<br>LEI: 549300B6VEZK3N0A1P55 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1003826.47   | 0.14%             | 2034-09-30      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FULTON FINANCIAL CORP          | Fulton Financial Corp                                                           | CUSIP: 360271AM2<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2599698.60   | 0.37%             | 2035-03-15      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| GLENDALE CA CMNTY CLG DIST     | Glendale Community College District                                             | CUSIP: 378394JN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $576543.05    | 0.08%             | 2031-08-01      | Fixed         | 2.11%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $517117.83    | 0.07%             | 2031-04-23      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| H.B. FULLER CO                 | HB Fuller Co                                                                    | CUSIP: 40410KAA3<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1654486.87   | 0.23%             | 2028-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HILLENBRAND INC                | Hillenbrand Inc                                                                 | CUSIP: 431571AE8<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2358394.48   | 0.33%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                     | Humana Inc                                                                      | CUSIP: 444859BY7<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1052168.60   | 0.15%             | 2034-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                                | CUSIP: 60416UXP5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    480000 | PA      | $477123.26    | 0.07%             | 2036-07-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                                                  | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    750000 | PA      | $652011.39    | 0.09%             | 2036-09-16      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                | Murphy Oil Corp                                                                 | CUSIP: 626717AG7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    500000 | PA      | $437287.75    | 0.06%             | 2042-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NVENT FINANCE SARL             | nVent Finance Sarl                                                              | CUSIP: 67078AAF0<br>LEI: 549300KO1OQ4MVFB6X02 | Long             | DBT              | CORP              | LU        |   1495000 | PA      | $1561684.49   | 0.22%             | 2033-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE OKLAHOMA        | Public Service Co of Oklahoma                                                   | CUSIP: 744533BR0<br>LEI: F3TJNSIZRGXRH8GEIK79 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1013978.15   | 0.14%             | 2035-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Roche Holding AG               | Roche Holding AG                                                                | CUSIP: 771195104<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |    197000 | NS      | $8236570.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| LEIDOS HOLDINGS INC            | Leidos Holdings Inc                                                             | CUSIP: 78390XAC5<br>LEI: 549300IUTGTP6EJP8124 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1438799.59   | 0.20%             | 2040-12-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| SOCORRO TX INDEP SCH DIST      | Socorro Independent School District                                             | CUSIP: 833715HL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $444844.05    | 0.06%             | 2031-08-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                                                             | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    113843 | NS      | $15248131.42  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES       | International Flavors & Fragrances Inc                                          | CUSIP: 459506AR2<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $762739.02    | 0.11%             | 2040-11-15      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| INTERSTATE P&L CO              | Interstate Power and Light Co                                                   | CUSIP: 461070AD6<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1074030.33   | 0.15%             | 2034-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| STEELCASE INC                  | Steelcase Inc                                                                   | CUSIP: 858155AE4<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1373350.00   | 0.19%             | 2029-01-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TOLEDO EDISON COMPANY          | Toledo Edison Co/The                                                            | CUSIP: 889175BF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    416000 | PA      | $395117.32    | 0.06%             | 2028-05-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH SF MTGE REVEN | Iowa Finance Authority                                                          | CUSIP: 46247EJX4<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    600000 | PA      | $608650.62    | 0.09%             | 2035-07-01      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| NIAGARA MOHAWK POWER           | Niagara Mohawk Power Corp                                                       | CUSIP: 65364UAH9<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1899651.66   | 0.27%             | 2034-10-01      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY    | North Dakota Housing Finance Agency                                             | CUSIP: 65889BDC5<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    630000 | PA      | $650030.16    | 0.09%             | 2036-01-01      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE COLORADO        | Public Service Co of Colorado                                                   | CUSIP: 744448CA7<br>LEI: 5BANEF6PGSEK0SNMQF44 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2224844.50   | 0.32%             | 2038-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL            | Synchrony Financial                                                             | CUSIP: 87165BAV5<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1037235.52   | 0.15%             | 2030-08-02      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| Toro Co/The                    | Toro Co/The                                                                     | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |    160623 | NS      | $12239472.60  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSOC BANC-CORP                | Associated Banc-Corp                                                            | CUSIP: 045487AD7<br>LEI: 549300N3CIN473IW5094 | Long             | DBT              | CORP              | US        |   1151000 | PA      | $1193740.01   | 0.17%             | 2030-08-29      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                                            | CUSIP: 06050WGE9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    538000 | PA      | $512146.01    | 0.07%             | 2034-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHOICE HOTELS INTL INC         | Choice Hotels International Inc                                                 | CUSIP: 169905AF3<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $955601.53    | 0.14%             | 2029-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CHOICE HOTELS INTL INC         | Choice Hotels International Inc                                                 | CUSIP: 169905AH9<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |    750000 | PA      | $767481.28    | 0.11%             | 2034-08-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CBW0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $982556.06    | 0.14%             | 2026-04-30      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                 | Whirlpool Corp                                                                  | CUSIP: 96332HCG2<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $920209.81    | 0.13%             | 2043-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES       | International Flavors & Fragrances Inc                                          | CUSIP: 459506AP6<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |    486000 | PA      | $462551.91    | 0.07%             | 2027-10-15      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL       | Penske Truck Leasing Co Lp / PTL Finance Corp                                   | CUSIP: 709599BW3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $522288.61    | 0.07%             | 2028-08-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC               | LPL Holdings Inc                                                                | CUSIP: 50212YAK0<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2091661.12   | 0.30%             | 2034-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC               | LPL Holdings Inc                                                                | CUSIP: 50212YAQ7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1026264.28   | 0.15%             | 2035-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL FINANCIAL GRP        | Principal Financial Group Inc                                                   | CUSIP: 74251VAJ1<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $441444.40    | 0.06%             | 2043-05-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| REDONDO BEACH CA UNIF SCH DIST | Redondo Beach Unified School District                                           | CUSIP: 757710UJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $410351.60    | 0.06%             | 2034-08-01      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION           | M&T Bank Corp                                                                   | CUSIP: 55261FAH7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001099.50   | 0.14%             | 2026-11-01      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| MOSAIC CO                      | Mosaic Co/The                                                                   | CUSIP: 61945CAD5<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2068797.44   | 0.29%             | 2033-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ASHWAUBENON WI                 | Village of Ashwaubenon WI                                                       | CUSIP: 045141XT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $404435.56    | 0.06%             | 2040-06-01      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                                                                  | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      7800 | NS      | $1848600.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP            | Charles Schwab Corp/The                                                         | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |   2000000 | PA      | $1879822.00   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| MICHIGAN ST UNIV REVENUES      | Michigan State University                                                       | CUSIP: 594712UF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $910202.60    | 0.13%             | 2048-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                                                                  | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     56917 | NS      | $29480160.15  | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                | Bio-Techne Corp                                                                 | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |    106876 | NS      | $5945511.88   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKSTONE HOLDINGS FINA       | Blackstone Holdings Finance Co LLC                                              | CUSIP: 09261BAG5<br>LEI: 549300D2L6J4NC1QVZ22 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $883145.20    | 0.13%             | 2032-03-30      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC          | Micron Technology Inc                                                           | CUSIP: 595112CH4<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    500000 | PA      | $534754.65    | 0.08%             | 2035-11-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                                | CUSIP: 60416UQC2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    980000 | PA      | $1000378.61   | 0.14%             | 2035-07-01      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| OLD REPUBLIC INTL CORP         | Old Republic International Corp                                                 | CUSIP: 680223AK0<br>LEI: 549300IV6O2YY2A1KH37 | Long             | DBT              | CORP              | US        |    790000 | PA      | $787313.25    | 0.11%             | 2026-08-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SABAL TRAIL TRANS              | Sabal Trail Transmission LLC                                                    | CUSIP: 78516FAB5<br>LEI: 5493002DWITGSZFUI977 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $935757.71    | 0.13%             | 2038-05-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| LEIDOS INC                     | Leidos Inc                                                                      | CUSIP: 808626AG0<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |   3850000 | PA      | $3945178.62   | 0.56%             | 2033-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CDJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1731875.00   | 0.25%             | 2031-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO        | Bristol-Myers Squibb Co                                                         | CUSIP: 110122DR6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1054210.16   | 0.15%             | 2040-11-13      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| GATX CORP                      | GATX Corp                                                                       | CUSIP: 361448BK8<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1006353.82   | 0.14%             | 2033-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CEP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1880976.56   | 0.27%             | 2032-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co               | Wells Fargo & Co                                                                | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    107389 | NS      | $9001345.98   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS FINL CO         | General Motors Financial Co Inc                                                 | CUSIP: 37045XER3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    500000 | PA      | $521233.04    | 0.07%             | 2031-02-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1799866.24   | 0.26%             | 2032-10-21      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-1 A PTT          | American Airlines 2015-1 Class A Pass Through Trust                             | CUSIP: 023770AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232277 | PA      | $228170.16    | 0.03%             | 2027-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Graco Inc                      | Graco Inc                                                                       | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |    156826 | NS      | $13323936.96  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERSTATE POWER & LIGHT       | Interstate Power and Light Co                                                   | CUSIP: 461070AG9<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2167410.56   | 0.31%             | 2039-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 16-3 B PTT        | American Airlines 2016-3 Class B Pass Through Trust                             | CUSIP: 023771S41<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    337124 | PA      | $337110.62    | 0.05%             | 2025-10-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 14-1 A PTT          | American Airlines 2014-1 Class A Pass Through Trust                             | CUSIP: 02377AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    895898 | PA      | $889179.18    | 0.13%             | 2026-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| SELECTIVE INSURANCE GROU       | Selective Insurance Group Inc                                                   | CUSIP: 816300AJ6<br>LEI: 549300R3WGJWLE40R258 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1560210.45   | 0.22%             | 2035-04-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Tennant Co                     | Tennant Co                                                                      | CUSIP: 880345103<br>LEI: JYAIRLT8DVP6DP8UT336 | Long             | EC               | CORP              | US        |     61750 | NS      | $5005455.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| IOWA ST FIN AUTH SF MTGE REVEN | Iowa Finance Authority                                                          | CUSIP: 46247EJW6<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506891.20    | 0.07%             | 2035-01-01      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC              | Kinder Morgan Inc                                                               | CUSIP: 49456BAG6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1224409.43   | 0.17%             | 2034-12-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| TORO CO                        | Toro Co/The                                                                     | CUSIP: 891092AD0<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | DBT              | CORP              | US        |    500000 | PA      | $530108.41    | 0.08%             | 2027-06-15      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CCY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $933105.47    | 0.13%             | 2028-09-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                | Xcel Energy Inc                                                                 | CUSIP: 98389BBE9<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1038342.01   | 0.15%             | 2035-04-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Medtronic PLC                  | Medtronic PLC                                                                   | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |    135000 | NS      | $12857400.00  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| LABORATORY CORP OF AMER        | Laboratory Corp of America Holdings                                             | CUSIP: 50540RBA9<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995469.59    | 0.14%             | 2032-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| LEAR CORP                      | Lear Corp                                                                       | CUSIP: 521865AY1<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2230339.07   | 0.32%             | 2027-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION           | M&T Bank Corp                                                                   | CUSIP: 55261FAY0<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2049291.30   | 0.29%             | 2031-07-08      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| MERCURY GENERAL CORP           | Mercury General Corp                                                            | CUSIP: 589400AB6<br>LEI: 5493001Q9EXPCEL4W527 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3980721.20   | 0.56%             | 2027-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc         | Motorola Solutions Inc                                                          | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     23205 | NS      | $10611414.45  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS INC         | Motorola Solutions Inc                                                          | CUSIP: 620076BE8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1996178.86   | 0.28%             | 2044-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-2 AA PTT         | American Airlines 2015-2 Class AA Pass Through Trust                            | CUSIP: 02377BAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105584 | PA      | $103554.28    | 0.01%             | 2027-09-22      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| American Express Co            | American Express Co                                                             | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     19363 | NS      | $6431614.08   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| AVNET INC                      | Avnet Inc                                                                       | CUSIP: 053807AV5<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1019539.70   | 0.14%             | 2032-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co/The             | Walt Disney Co/The                                                              | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     81000 | NS      | $9274500.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS INC         | Motorola Solutions Inc                                                          | CUSIP: 620076BL2<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2527556.00   | 0.36%             | 2028-02-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| NORTH DAKOTA ST HSG FIN AGY    | North Dakota Housing Finance Agency                                             | CUSIP: 65889BDB7<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    300000 | PA      | $309510.48    | 0.04%             | 2035-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| GATX CORP                      | GATX Corp                                                                       | CUSIP: 361448BM4<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    500000 | PA      | $535919.63    | 0.08%             | 2034-03-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| HP INC                         | HP Inc                                                                          | CUSIP: 40434LAN5<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2072753.98   | 0.29%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                                                     | CUSIP: 68389XBW4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2410267.11   | 0.34%             | 2040-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES         | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EP               | CORP              | US        |   4000000 | PA      | $3888282.40   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                                                              | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     19067 | NS      | $7725757.73   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Hormel Foods Corp              | Hormel Foods Corp                                                               | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |    232474 | NS      | $5751406.76   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| SPIRIT AIR 2015-1 PTT A        | Spirit Airlines Pass Through Trust 2015-1A                                      | CUSIP: 84858DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66259 | PA      | $63490.77     | 0.01%             | 2028-04-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                                                | CUSIP: 95000U3L5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2046722.38   | 0.29%             | 2028-04-22      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                                                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     14849 | NS      | $11329787.00  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                       | AT&T Inc                                                                        | CUSIP: 78387GAM5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1076190.20   | 0.15%             | 2034-06-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                                                         | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     34000 | NS      | $11772840.00  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL            | Synchrony Financial                                                             | CUSIP: 87165BAR4<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $886212.71    | 0.13%             | 2031-10-28      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Sysco Corp                     | Sysco Corp                                                                      | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     21546 | NS      | $1774097.64   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE USA INC               | T-Mobile USA Inc                                                                | CUSIP: 87264ADC6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2119884.86   | 0.30%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| 3M Co                          | 3M Co                                                                           | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      6527 | NS      | $1012859.86   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED AIR 2014-1 A PTT        | United Airlines 2014-1 Class A Pass Through Trust                               | CUSIP: 90932PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    389739 | PA      | $388775.69    | 0.06%             | 2026-04-11      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WILDLIFE CONSERVATION          | Wildlife Conservation Society                                                   | CUSIP: 96812WAA3<br>LEI: 254900A5BOQTQRA08946 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $658296.52    | 0.09%             | 2050-08-01      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| WINTRUST FINANCIAL CORP        | Wintrust Financial Corp                                                         | CUSIP: 97650WAG3<br>LEI: Q774KI4AW80FHFW33O61 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3449168.45   | 0.49%             | 2029-06-06      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| WORTHINGTON MN INDEP SCH DIST# | Worthington Independent School District No 518                                  | CUSIP: 981865KB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $743002.43    | 0.11%             | 2039-02-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                | Xcel Energy Inc                                                                 | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    184700 | NS      | $14896055.00  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED AIR 2014-2 A PTT        | United Airlines 2014-2 Class A Pass Through Trust                               | CUSIP: 90932QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    309493 | PA      | $308171.78    | 0.04%             | 2026-09-03      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US BANCORP                     | US Bancorp                                                                      | CUSIP: 91159HJB7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1724899.52   | 0.24%             | 2036-11-03      | Variable      | 2.49%                 | No            |                  2 | On Loan: No      |
| nVent Electric PLC             | nVent Electric PLC                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |     58433 | NS      | $5763831.12   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CDG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $972812.50    | 0.14%             | 2026-10-31      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CET4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2951074.23   | 0.42%             | 2027-05-31      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Visa Inc                       | Visa Inc                                                                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     42011 | NS      | $14341715.18  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ALBEMARLE CORP                 | Albemarle Corp                                                                  | CUSIP: 012653AE1<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | DBT              | CORP              | US        |    850000 | PA      | $840072.85    | 0.12%             | 2032-06-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CORP                 | Albemarle Corp                                                                  | CUSIP: 012725AD9<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | DBT              | CORP              | US        |    325000 | PA      | $293799.14    | 0.04%             | 2044-12-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CH Robinson Worldwide Inc      | CH Robinson Worldwide Inc                                                       | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |     37000 | NS      | $4898800.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| CNA FINANCIAL CORP             | CNA Financial Corp                                                              | CUSIP: 126117AX8<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2077311.30   | 0.29%             | 2033-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO       | Capital One Financial Corp                                                      | CUSIP: 14040HCV5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3085136.46   | 0.44%             | 2030-07-26      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                   | Comcast Corp                                                                    | CUSIP: 20030NBH3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1959769.76   | 0.28%             | 2033-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| COX COMMUNICATIONS INC         | Cox Communications Inc                                                          | CUSIP: 224044CF2<br>LEI: 5493001NEDZNIFRP2R92 | Long             | DBT              | CORP              | US        |   1880000 | PA      | $1776881.04   | 0.25%             | 2035-02-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments Inc                                                           | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     89000 | NS      | $16351970.00  | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                     | US Bancorp                                                                      | CUSIP: 91159HJJ0<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2133951.90   | 0.30%             | 2033-10-21      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group Inc                                                          | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     38726 | NS      | $13372087.80  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC         | UnitedHealth Group Inc                                                          | CUSIP: 91324PAX0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2240171.06   | 0.32%             | 2037-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC       | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    581000 | PA      | $533067.50    | 0.08%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC              | CBRE Services Inc                                                               | CUSIP: 12505BAG5<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2134369.50   | 0.30%             | 2034-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO       | Capital One Financial Corp                                                      | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2075855.30   | 0.29%             | 2036-01-30      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| DELL INC                       | Dell Inc                                                                        | CUSIP: 24702RAM3<br>LEI: 3E70L4WYANTIWWIPHC81 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $983973.83    | 0.14%             | 2040-09-10      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS       | Discovery Communications LLC                                                    | CUSIP: 25470DBW8<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    570000 | PA      | $429637.50    | 0.06%             | 2042-05-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 912810TH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $839960.94    | 0.12%             | 2042-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                                | CUSIP: 91282CCR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $930078.12    | 0.13%             | 2028-07-31      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| EASTMAN CHEMICAL CO            | Eastman Chemical Co                                                             | CUSIP: 277432AY6<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1030274.19   | 0.15%             | 2034-02-20      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                    | Viatris Inc                                                                     | CUSIP: 92556VAC0<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1444296.23   | 0.20%             | 2027-06-22      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                                                | CUSIP: 94974BFY1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999402.63    | 0.14%             | 2026-06-03      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-2 A PASS T       | American Airlines 2015-2 Class A Pass Through Trust                             | CUSIP: 02377BAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    344248 | PA      | $336449.12    | 0.05%             | 2027-09-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANALOG DEVICES INC             | Analog Devices Inc                                                              | CUSIP: 032654AW5<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $740135.23    | 0.10%             | 2041-10-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| ASSURANT INC                   | Assurant Inc                                                                    | CUSIP: 04621XAN8<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $878624.44    | 0.12%             | 2032-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL               | Bank of Montreal                                                                | CUSIP: 06368DH72<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   2150000 | PA      | $1916709.09   | 0.27%             | 2037-01-10      | Variable      | 3.09%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP               | Black Hills Corp                                                                | CUSIP: 092113AQ2<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $964577.47    | 0.14%             | 2033-05-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| BRITISH AIR 18-1 A PTT         | British Airways 2018-1 Class A Pass Through Trust                               | CUSIP: 11043HAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500806 | PA      | $488321.02    | 0.07%             | 2031-09-20      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CABOT CORP                     | Cabot Corp                                                                      | CUSIP: 127055AK7<br>LEI: K05C0SER542GQ6VLRO68 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1487393.90   | 0.21%             | 2026-09-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| HARTFORD INSUR GRP INC/T       | Hartford Insurance Group Inc/The                                                | CUSIP: 416518AC2<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2510739.96   | 0.36%             | 2042-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| HASBRO INC                     | Hasbro Inc                                                                      | CUSIP: 418056AZ0<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1949192.90   | 0.28%             | 2029-11-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN AIRLINES 13-1A        | Hawaiian Airlines 2013-1 Class A Pass Through Certificates                      | CUSIP: 419838AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1018680 | PA      | $1014223.23   | 0.14%             | 2026-01-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| IDAHO ST BOND BANK AUTH REVENU | Idaho Bond Bank Authority                                                       | CUSIP: 4511527S5<br>LEI: 5493006H5207M9WPQJ98 | Long             | DBT              | MUN               | US        |    500000 | PA      | $396366.15    | 0.06%             | 2038-09-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup Inc                                                                   | CUSIP: 172967NG2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492497.39    | 0.07%             | 2028-02-24      | Variable      | 3.07%                 | No            |                  2 | On Loan: No      |
| CROWLEY TX INDEP SCH DIST      | Crowley Independent School District                                             | CUSIP: 228130HH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $850956.80    | 0.12%             | 2038-08-01      | Fixed         | 3.01%                 | No            |                  2 | On Loan: No      |
| ONEOK PARTNERS LP              | ONEOK Partners LP                                                               | CUSIP: 68268NAM5<br>LEI: T4DHW82NMF6BXJT50795 | Long             | DBT              | CORP              | US        |   1203000 | PA      | $1236401.76   | 0.18%             | 2043-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co/The        | Procter & Gamble Co/The                                                         | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     37000 | NS      | $5685050.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| QUEST DIAGNOSTICS INC          | Quest Diagnostics Inc                                                           | CUSIP: 74834LBD1<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |    500000 | PA      | $555103.18    | 0.08%             | 2033-11-30      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC            | Resideo Funding Inc                                                             | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1026000.00   | 0.15%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FMR LLC                        | FMR LLC                                                                         | CUSIP: 30251BAB4<br>LEI: 6X064LF7Y6B4DKF2GZ26 | Long             | DBT              | CORP              | US        |   1141000 | PA      | $1266470.83   | 0.18%             | 2039-11-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| HP INC                         | HP Inc                                                                          | CUSIP: 40434LAJ4<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $902632.63    | 0.13%             | 2031-06-17      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN PUBLIC SERV       | Southwestern Public Service Co                                                  | CUSIP: 845743BL6<br>LEI: OL6FE7QD5EQ3DOYEO258 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1038341.83   | 0.15%             | 2036-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HANOVER INSURANCE GROUP        | Hanover Insurance Group Inc/The                                                 | CUSIP: 410867AG0<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2258089.30   | 0.32%             | 2030-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Hershey Co/The                 | Hershey Co/The                                                                  | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     13000 | NS      | $2431650.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                                             | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   3000000 | PA      | $2961321.45   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC               | Land O' Lakes Inc                                                               | CUSIP: 514666AM8<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2275000.00   | 0.32%             | 2027-04-04      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC               | Land O' Lakes Inc                                                               | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2181250.00   | 0.31%             | 2028-09-18      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Littelfuse Inc                 | Littelfuse Inc                                                                  | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     39750 | NS      | $10295647.50  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE'S COS INC                 | Lowe's Cos Inc                                                                  | CUSIP: 548661CX3<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    880000 | PA      | $810352.90    | 0.11%             | 2042-04-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                                                  | CUSIP: 61747YEL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1545859.95   | 0.22%             | 2033-01-21      | Variable      | 2.94%                 | No            |                  2 | On Loan: No      |
| NORTHERN NATURAL GAS CO        | Northern Natural Gas Co                                                         | CUSIP: 665501AK8<br>LEI: 5493007M02M6CT9EXE41 | Long             | DBT              | CORP              | US        |   1021000 | PA      | $838211.05    | 0.12%             | 2042-09-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                                                                       | CUSIP: 682680AN3<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1053209.96   | 0.15%             | 2035-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                                                                    | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     82039 | NS      | $19980598.45  | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ASHTEAD CAPITAL INC            | Ashtead Capital Inc                                                             | CUSIP: 045054AS2<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1048557.71   | 0.15%             | 2034-04-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Automatic Data Processing Inc  | Automatic Data Processing Inc                                                   | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     34000 | NS      | $9979000.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AVNET INC                      | Avnet Inc                                                                       | CUSIP: 053807AU7<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1812608.38   | 0.26%             | 2031-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                                            | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1650355.39   | 0.23%             | 2036-09-21      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                | CVS Health Corp                                                                 | CUSIP: 126650DP2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1068123.38   | 0.15%             | 2040-08-21      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Casey's General Stores Inc     | Casey's General Stores Inc                                                      | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |     16000 | NS      | $9045120.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CAROLINAS          | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CAA2<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1075539.17   | 0.15%             | 2037-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| EBAY INC                       | eBay Inc                                                                        | CUSIP: 278642BB8<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2198600.62   | 0.31%             | 2032-11-22      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                   | Entegris Inc                                                                    | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2977849.80   | 0.42%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund                                      | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   4586377 | NS      | $4586376.61   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY             | Ford Motor Co                                                                   | CUSIP: 345370CQ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $796972.19    | 0.11%             | 2043-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENER PART        | Kinder Morgan Energy Partners LP                                                | CUSIP: 494550AT3<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1258614.16   | 0.18%             | 2035-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY S | Massachusetts Development Finance Agency                                        | CUSIP: 57584FMQ0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    885000 | PA      | $661586.62    | 0.09%             | 2040-05-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                | McDonald's Corp                                                                 | CUSIP: 58013MEN0<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $821251.74    | 0.12%             | 2042-02-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SF MT | Michigan State Housing Development Authority                                    | CUSIP: 594654L45<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501070.35    | 0.07%             | 2030-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC          | Micron Technology Inc                                                           | CUSIP: 595112BZ5<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    500000 | PA      | $531323.51    | 0.08%             | 2033-02-09      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY       | Minnesota Housing Finance Agency                                                | CUSIP: 60416UXN0<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    400000 | PA      | $397526.76    | 0.06%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOHAWK INDUSTRIES INC          | Mohawk Industries Inc                                                           | CUSIP: 608190AL8<br>LEI: 549300JI1115MG3Q6322 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1928703.86   | 0.27%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| OLD REPUBLIC INTL CORP         | Old Republic International Corp                                                 | CUSIP: 680223AM6<br>LEI: 549300IV6O2YY2A1KH37 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1043243.23   | 0.15%             | 2034-03-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QUANTA SERVICES INC            | Quanta Services Inc                                                             | CUSIP: 74762EAL6<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1026258.05   | 0.15%             | 2034-08-09      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                | CVS Health Corp                                                                 | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1312976.66   | 0.19%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY FINANCE         | Alliant Energy Finance LLC                                                      | CUSIP: 01882YAD8<br>LEI: 54930033ER6EOI5DL570 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $925725.81    | 0.13%             | 2032-03-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                                                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     60000 | NS      | $13174200.00  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEREN CORP                    | Ameren Corp                                                                     | CUSIP: 023608AR3<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1027347.98   | 0.15%             | 2035-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC            | Delta Air Lines Inc                                                             | CUSIP: 247361A32<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3062230.50   | 0.43%             | 2030-07-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EATON CORP                     | Eaton Corp                                                                      | CUSIP: 278062AD6<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1959919.82   | 0.28%             | 2032-11-02      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FIRST NATIONAL OF NEBRAS       | First National of Nebraska Inc                                                  | CUSIP: 32119CAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $778314.23    | 0.11%             | 2035-06-15      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                                                                    | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     26532 | NS      | $4413863.52   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc        | Rockwell Automation Inc                                                         | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |     25000 | NS      | $8738250.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY PROGRESS INC       | Duke Energy Progress LLC                                                        | CUSIP: 144141CV8<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1226034.51   | 0.17%             | 2035-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Ecolab Inc                     | Ecolab Inc                                                                      | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     61273 | NS      | $16780223.78  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                   | Entegris Inc                                                                    | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     70000 | NS      | $6472200.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUIFAX INC                    | Equifax Inc                                                                     | CUSIP: 294429AG0<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2262207.60   | 0.32%             | 2037-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GATX CORP                      | GATX Corp                                                                       | CUSIP: 361448BL6<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031707.38   | 0.15%             | 2033-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO              | General Motors Co                                                               | CUSIP: 37045VAN0<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999788.62    | 0.14%             | 2027-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GREAT RIVER ENERGY             | Great River Energy                                                              | CUSIP: 39121JAG5<br>LEI: 5493007CIM8IF8LIUC91 | Long             | DBT              | CORP              | US        |    706140 | PA      | $756293.78    | 0.11%             | 2038-07-01      | Fixed         | 7.23%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP              | ITC Holdings Corp                                                               | CUSIP: 465685AS4<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1083347.61   | 0.15%             | 2033-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                                                             | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     51109 | NS      | $16121311.87  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                                             | CUSIP: 46625HJZ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000926.94   | 0.14%             | 2026-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                                                               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     47751 | NS      | $8853990.42   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** Trust for Professional Managers

**Signature:** /s/ Kelly Strauss

**Name of Signer:** Kelly Strauss

**Title:** Treasurer