# EDGAR Filing Document

**Accession Number:** 0001484018
**File Stem:** 0002000324-25-003046
**Filing Date:** 2025-8
**Character Count:** 121483
**Document Hash:** 3451d34d2a328084408012cce15522dc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-003046.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0002000324-25-003046

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Spinnaker ETF Series
- **CENTRAL INDEX KEY:** 0001484018

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22398
- **FILM NUMBER:** 251249905

**BUSINESS ADDRESS:**
- **STREET 1:** 116 SOUTH FRANKLIN STREET
- **STREET 2:** POST OFFICE BOX 69
- **CITY:** ROCKY MOUNT
- **STATE:** NC
- **ZIP:** 27802-0069
- **BUSINESS PHONE:** 252-972-9922

**MAIL ADDRESS:**
- **STREET 1:** 116 SOUTH FRANKLIN STREET
- **STREET 2:** POST OFFICE BOX 69
- **CITY:** ROCKY MOUNT
- **STATE:** NC
- **ZIP:** 27802-0069

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Spinnaker ETF Trust
- **DATE OF NAME CHANGE:** 20100212

## Series and Classes Contracts Data

### UVA Unconstrained Medium-Term Fixed Income ETF (Series ID: S000057345)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000183025 | UVA Unconstrained Medium-Term Fixed Income ETF | FFIU            |

## Nport-Ex

---

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| XTR_FUND | XTR_FNDDSC | XTR_TKR | XTR_DESC1 | XTR_DESC2 | OCC_ID | XTR_CUSIP | XTR_GROUP | XTR_GROUP1 | XTR_GROUP2 | XTR_CATGRY | XTR_CATDSC | XTR_SECTOR | XTR_SECTR1 | XTR_SECTR2 | XTR_CONTRY | XTR_CONDSC | XTR_STATE | XTR_STNAME | XTR_CURNCY | XTR_CURDSC | XTR_MATDAT | XTR_SUBUNT | XTR_SUBDSC | XTR_PRICE | SECTYPE | SECTYPE2 | RPT_ID | INCLUD_CAT | LEGAL1 | LEGAL2 | LEGAL3 | LEGAL4 | LEGAL5 | LEGAL6 | BAS_Q_DECS | BAS_M_DECS | LCL_P_DECS | LCL_Q_DECS | ISBASCURR | POS_INCOM | CLASS | QTYINDIC | FAS_LEVEL | PROCESS_DATE | SECTOR | FUNDCURR | BASECURR | POS_QTY | POS_ORGCST | POS_AMORT | POS_MKTVAL | RND_MKTVAL | POS_GL | RNDPOS_GL | POS_YIELD | YIELDTOCALL | POS_YTM | POS_YTM_NA | POS_PC_PRT | POS_PC_AST | POS_PC_NAS | POS_ORGFAC | FAS_TODAY_ONLY | LEI | PRICE_ID | PRICINGMETHOD |
| 426 | UVA Unconstrained Medium-Term Fixed | BBN | BlackRock Taxable Mu | nicipal Bond Trust |  | 09248X100 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 1/0/1900 |  |  | 16.11 |  |  |  |  | BlackRock Taxable Mu | nicipal Bond Trust |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 31429.37 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 26978.00 | 663557.74 | 663557.74 | 434615.58 | 434615.58 | -228942.16 | -228942.16 | 7.23 | False | 0.00 | N/A | 0.87 | 0.86 | 0.87 | 0.00 |  | 549300LRIF3NWCU26A80 | BBN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | GBAB | Guggenheim Taxable M | unicipal Bond & Inve |  | 401664107 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 15.04 |  |  |  |  | Guggenheim Taxable M | unicipal Bond & Inve |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 36710.95 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 24328.00 | 599408.08 | 599408.08 | 365893.12 | 365893.12 | -233514.96 | -233514.96 | 10.03 | False | 0.00 | N/A | 0.74 | 0.73 | 0.73 | 0.00 |  | 549300GOPVLTY8C8IN16 | GBAB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | EVV | EATON VANCE LTD | DURATION FND |  | 27828H105 | 1041 | Equity Fund |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 10.26 |  |  |  |  | EATON VANCE LTD | DURATION FND |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24975.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 25000.00 | 241682.50 | 241682.50 | 256500.00 | 256500.00 | 14817.50 | 14817.50 | 9.74 | False | 0.00 | N/A | 0.52 | 0.51 | 0.51 | 0.00 |  |  | EVV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3132DWJM | FR SD8368 | 10/01/2053 6.000000% |  | 3132DWJM6 |  | UNGROUPED SECURITIES |  | CMO | COLL MORT OBLIGATION | COLL MORT OBLIGATION |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 10/1/2053 |  |  | 101.65 |  |  |  |  | FR SD8368 | 10/01/2053 6.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 35814.79 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 596913.09 | 584415.22 | 584673.44 | 606785.97 | 606785.97 | 22112.53 | 22112.53 | 5.90 | False | 5.88 |  | 1.22 | 1.21 | 1.21 | 750000.00 |  |  | 3132DWJM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 008252AR | AFFIL MANAGERS | 08/20/2034 5.500000% |  | 008252AR9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 8/20/2034 |  |  | 100.03 |  |  |  |  | AFFIL MANAGERS | 08/20/2034 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 27500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 509440.00 | 508835.31 | 500137.50 | 500137.50 | -8697.81 | -8697.81 | 5.50 | True | 5.50 |  | 1.00 | 1.00 | 1.00 | 0.00 |  | 2JE75BUE3T1BLCYYGK54 | 008252AR<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02079KAE | ALPHABET INC | 8/15/2040 1.9% |  | 02079KAE7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 8/15/2040 |  |  | 66.92 |  |  |  |  | ALPHABET INC | 8/15/2040 1.9% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 469199.59 | 473622.06 | 334619.50 | 334619.50 | -139002.56 | -139002.56 | 2.84 | False | 5.05 |  | 0.67 | 0.67 | 0.67 | 0.00 |  | 5493006MHB84DD0ZWV18 | 02079KAE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02079KAF | ALPHABET INC | 8/15/2050 2.05% |  | 02079KAF4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 8/15/2050 |  |  | 55.75 |  |  |  |  | ALPHABET INC | 8/15/2050 2.05% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15375.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 750000.00 | 637816.05 | 646367.62 | 418144.50 | 418144.50 | -228223.12 | -228223.12 | 3.68 | False | 5.24 |  | 0.84 | 0.83 | 0.83 | 0.00 |  | 5493006MHB84DD0ZWV18 | 02079KAF<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02209SAM | ALTRIA GROUP INC | 8/9/2042 4.25% |  | 02209SAM5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 8/9/2042 |  |  | 81.24 |  |  |  |  | ALTRIA GROUP INC | 8/9/2042 4.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 17000.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 400000.00 | 441406.96 | 436715.97 | 324948.80 | 324948.80 | -111767.17 | -111767.17 | 5.23 | False | 6.02 |  | 0.65 | 0.65 | 0.65 | 0.00 |  | XSGZFLO9YTNO9VCQV219 | 02209SAM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02209SAQ | ALTRIA GROUP INC | 5/2/2043 4.5% |  | 02209SAQ6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 5/2/2043 |  |  | 83.20 |  |  |  |  | ALTRIA GROUP INC | 5/2/2043 4.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11250.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 259450.06 | 258494.74 | 207989.00 | 207989.00 | -50505.74 | -50505.74 | 5.41 | False | 6.05 |  | 0.42 | 0.41 | 0.41 | 0.00 |  | XSGZFLO9YTNO9VCQV219 | 02209SAQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02209SBE | ALTRIA GROUP INC | 2/14/2039 5.8% |  | 02209SBE2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 2/14/2039 |  |  | 101.19 |  |  |  |  | ALTRIA GROUP INC | 2/14/2039 5.8% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 321561.32 | 311130.11 | 252980.75 | 252980.75 | -58149.36 | -58149.36 | 5.73 | True | 5.67 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | XSGZFLO9YTNO9VCQV219 | 02209SBE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 023135BT | AMAZON.COM INC | 6/3/2050 2.5% |  | 023135BT2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | WA | WASHINGTON | USD | US DOLLAR | 6/3/2050 |  |  | 59.80 |  |  |  |  | AMAZON.COM INC | 6/3/2050 2.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 18750.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 750000.00 | 686330.01 | 691142.22 | 448467.75 | 448467.75 | -242674.47 | -242674.47 | 4.18 | False | 5.48 |  | 0.90 | 0.89 | 0.89 | 0.00 |  | ZXTILKJKG63JELOEG630 | 023135BT<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 031162BP | AMGEN INC | 5/15/2043 5.375% |  | 031162BP4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/15/2043 |  |  | 92.12 |  |  |  |  | AMGEN INC | 5/15/2043 5.375% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5375.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 100000.00 | 133015.88 | 129363.61 | 92123.20 | 92123.20 | -37240.41 | -37240.41 | 5.83 | False | 6.10 |  | 0.19 | 0.18 | 0.18 | 0.00 |  | 62QBXGPJ34PQ72Z12S66 | 031162BP<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 031162BZ | AMGEN INC | 5/1/2045 4.4% |  | 031162BZ2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/1/2045 |  |  | 84.98 |  |  |  |  | AMGEN INC | 5/1/2045 4.4% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13200.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 367592.67 | 360858.43 | 254926.50 | 254926.50 | -105931.93 | -105931.93 | 5.18 | False | 5.67 |  | 0.51 | 0.51 | 0.51 | 0.00 |  | 62QBXGPJ34PQ72Z12S66 | 031162BZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833AL | APPLE INC | 5/4/2043 3.85% |  | 037833AL4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/4/2043 |  |  | 83.80 |  |  |  |  | APPLE INC | 5/4/2043 3.85% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 17325.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 450000.00 | 452887.47 | 452571.09 | 377083.80 | 377083.80 | -75487.29 | -75487.29 | 4.59 | False | 5.26 |  | 0.76 | 0.75 | 0.75 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833AL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833BA | APPLE INC | 2/9/2045 3.45% |  | 037833BA7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 2/9/2045 |  |  | 77.44 |  |  |  |  | APPLE INC | 2/9/2045 3.45% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 17250.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 497740.00 | 497961.39 | 387199.00 | 387199.00 | -110762.39 | -110762.39 | 4.46 | False | 5.32 |  | 0.78 | 0.77 | 0.77 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833BA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833CH | APPLE INC | 2/9/2047 4.25% |  | 037833CH1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 2/9/2047 |  |  | 85.74 |  |  |  |  | APPLE INC | 2/9/2047 4.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 17000.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 400000.00 | 493965.50 | 485416.24 | 342960.40 | 342960.40 | -142455.84 | -142455.84 | 4.96 | False | 5.37 |  | 0.69 | 0.68 | 0.68 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833CH<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833DB | APPLE INC | 9/12/2027 2.9% |  | 037833DB3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 9/12/2027 |  |  | 97.83 |  |  |  |  | APPLE INC | 9/12/2027 2.9% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 497022.50 | 498708.26 | 489149.00 | 489149.00 | -9559.26 | -9559.26 | 2.96 | False | 3.94 |  | 0.98 | 0.97 | 0.97 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833DB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833DD | APPLE INC | 9/12/2047 3.75% |  | 037833DD9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 9/12/2047 |  |  | 78.96 |  |  |  |  | APPLE INC | 9/12/2047 3.75% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13125.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 350000.00 | 345845.50 | 346163.17 | 276372.60 | 276372.60 | -69790.57 | -69790.57 | 4.75 | False | 5.39 |  | 0.56 | 0.55 | 0.55 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833DD<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833EE | APPLE INC | 2/8/2041 2.375% |  | 037833EE6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 2/8/2041 |  |  | 69.78 |  |  |  |  | APPLE INC | 2/8/2041 2.375% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11875.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 475166.11 | 478507.42 | 348878.50 | 348878.50 | -129628.92 | -129628.92 | 3.40 | False | 5.23 |  | 0.70 | 0.69 | 0.69 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833EE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 060505EU | BANK OF AMER CRP |  |  | 060505EU4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 3/10/2026 |  |  | 100.82 |  |  |  |  | BANK OF AMER CRP |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 31500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 533749.01 | 506487.13 | 504075.00 | 504075.00 | -2412.13 | -2412.13 | 6.25 | True | 5.08 |  | 1.01 | 1.00 | 1.00 | 0.00 |  | 9DJT3UXIJIZJI4WXO774 | 060505EU<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 064058AL | BANK OF NY MELLO | 3.75% 12/20/26 |  | 064058AL4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 12/20/2026 |  |  | 97.50 |  |  |  |  | BANK OF NY MELLO | 3.75% 12/20/26 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13125.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 350000.00 | 323130.50 | 340667.59 | 341250.00 | 341250.00 | 582.41 | 582.41 | 3.85 | False | 5.53 |  | 0.69 | 0.68 | 0.68 | 0.00 |  | WFLLPEPC7FZXENRZV188 | 064058AL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 084664CV | BERKSHIRE HATH | 10/15/2050 2.85% |  | 084664CV1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NE | NEBRASKA | USD | US DOLLAR | 10/15/2050 |  |  | 64.69 |  |  |  |  | BERKSHIRE HATH | 10/15/2050 2.85% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8550.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 285003.25 | 286084.91 | 194077.50 | 194077.50 | -92007.41 | -92007.41 | 4.41 | False | 5.43 |  | 0.39 | 0.39 | 0.39 | 0.00 |  | 5493000C01ZX7D35SD85 | 084664CV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 084659AV | BERKSHIRE HATHAW | 7/15/2030 3.7% |  | 084659AV3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IA | IOWA | USD | US DOLLAR | 7/15/2030 |  |  | 96.92 |  |  |  |  | BERKSHIRE HATHAW | 7/15/2030 3.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9250.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 228162.50 | 234904.27 | 242302.75 | 242302.75 | 7398.48 | 7398.48 | 3.82 | False | 4.39 |  | 0.49 | 0.48 | 0.48 | 0.00 |  | 5493000C01ZX7D35SD85 | 084659AV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 110122CQ | BRISTOL-MYERS | 6/15/2039 4.125% |  | 110122CQ9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 6/15/2039 |  |  | 88.88 |  |  |  |  | BRISTOL-MYERS | 6/15/2039 4.125% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 20625.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 587580.77 | 574472.74 | 444385.50 | 444385.50 | -130087.24 | -130087.24 | 4.64 | False | 5.26 |  | 0.89 | 0.88 | 0.89 | 0.00 |  | HLYYNH7UQUORYSJQCN42 | 110122CQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 11135FAS | BROADCOM INC | 11/15/2032 4.3% |  | 11135FAS0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 11/15/2032 |  |  | 96.93 |  |  |  |  | BROADCOM INC | 11/15/2032 4.3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10750.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 235956.58 | 239408.58 | 242329.75 | 242329.75 | 2921.17 | 2921.17 | 4.44 | False | 4.80 |  | 0.49 | 0.48 | 0.48 | 0.00 |  | 549300WV6GIDOZJTV909 | 11135FAS<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 115637AP | BROWN-FORMAN | 7/15/2045 4.5% |  | 115637AP5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | KY | KENTUCKY | USD | US DOLLAR | 7/15/2045 |  |  | 86.05 |  |  |  |  | BROWN-FORMAN | 7/15/2045 4.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14850.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 330000.00 | 306863.65 | 308259.49 | 283965.00 | 283965.00 | -24294.49 | -24294.49 | 5.23 | False | 5.67 |  | 0.57 | 0.57 | 0.57 | 0.00 |  | 549300873K3LXF7ARU34 | 115637AP<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 12505BAE | CBRE SERVICES | 04/01/2031 2.500% |  | 12505BAE0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 4/1/2031 |  |  | 88.53 |  |  |  |  | CBRE SERVICES | 04/01/2031 2.500% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 100000.00 | 83679.00 | 88406.43 | 88529.10 | 88529.10 | 122.67 | 122.67 | 2.82 | False | 4.81 |  | 0.18 | 0.18 | 0.18 | 0.00 |  |  | 12505BAE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 172062AE | CINCINNATI FINL | 11/1/2034 6.125% |  | 172062AE1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 11/1/2034 |  |  | 106.22 |  |  |  |  | CINCINNATI FINL | 11/1/2034 6.125% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15312.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 343181.05 | 322464.26 | 265554.00 | 265554.00 | -56910.26 | -56910.26 | 5.77 | False | 5.27 |  | 0.53 | 0.53 | 0.53 | 0.00 |  | 254900Q4WEDMZBOZ0002 | 172062AE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 172062AF | CINCINNATI FINL | 5/15/2028 6.92% |  | 172062AF8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 5/15/2028 |  |  | 106.94 |  |  |  |  | CINCINNATI FINL | 5/15/2028 6.92% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4082.80 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 59000.00 | 74629.01 | 66718.68 | 63097.43 | 63097.43 | -3621.25 | -3621.25 | 6.47 | False | 4.32 |  | 0.13 | 0.13 | 0.13 | 0.00 |  | 254900Q4WEDMZBOZ0002 | 172062AF<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 17328YZV | CITIGROUP GLOBAL | 3/17/2031 1% |  | 17328YZV9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 3/17/2031 |  |  | 84.73<br> M |  |  |  |  | CITIGROUP GLOBAL | 3/17/2031 1% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2868.15 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 247500.00 | 248355.81 | 211816.21 | 211816.21 | -36539.60 | -36539.60 | 1.35 | False | 4.16 |  | 0.43 | 0.42 | 0.42 | 0.00 |  | 6SHGI4ZSSLCXXQSBB395 | 17328YZV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 21036PBC | CONSTELLATION BRANDS | 4.65% 11/15/2028 |  | 21036PBC1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 11/15/2028 |  |  | 100.59 |  |  |  |  | CONSTELLATION BRANDS | 4.65% 11/15/2028 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9300.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 200000.00 | 200255.20 | 200140.54 | 201174.00 | 201174.00 | 1033.46 | 1033.46 | 4.62 | True | 4.45 |  | 0.40 | 0.40 | 0.40 | 0.00 |  |  | 21036PBC<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 247361ZN | DELTA AIR LINES | 4/19/2028 4.375% |  | 247361ZN1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | GA | GEORGIA | USD | US DOLLAR | 4/19/2028 |  |  | 99.13 |  |  |  |  | DELTA AIR LINES | 4/19/2028 4.375% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6781.25 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 155000.00 | 153699.55 | 154336.73 | 153643.75 | 153643.75 | -692.98 | -692.98 | 4.41 | False | 4.71 |  | 0.31 | 0.31 | 0.31 | 0.00 |  | Q2CCMS6R0AS67HJMBN42 | 247361ZN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 278642AF | EBAY INC | 7/15/2042 4% |  | 278642AF0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 7/15/2042 |  |  | 81.05 |  |  |  |  | EBAY INC | 7/15/2042 4% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 42720.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 1068000.00 | 1133360.00 | 1125663.78 | 865579.82 | 865579.82 | -260083.96 | -260083.96 | 4.94 | False | 5.76 |  | 1.74 | 1.72 | 1.72 | 0.00 |  | OML71K8X303XQONU6T67 | 278642AF<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 278642AW | EBAY INC | 3/11/2030 2.7% |  | 278642AW3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 3/11/2030 |  |  | 92.58 |  |  |  |  | EBAY INC | 3/11/2030 2.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5130.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 190000.00 | 184841.75 | 186759.75 | 175910.55 | 175910.55 | -10849.20 | -10849.20 | 2.92 | False | 4.47 |  | 0.35 | 0.35 | 0.35 | 0.00 |  | OML71K8X303XQONU6T67 | 278642AW<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 285512AE | ELECTRONIC ARTS | 2/15/2031 1.85% |  | 285512AE9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 2/15/2031 |  |  | 86.54 |  |  |  |  | ELECTRONIC ARTS | 2/15/2031 1.85% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4625.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 215119.65 | 226347.89 | 216346.00 | 216346.00 | -10001.89 | -10001.89 | 2.14 | False | 4.59 |  | 0.43 | 0.43 | 0.43 | 0.00 |  | 549300O7A67PUEYKDL45 | 285512AE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 26875PAQ | EOG RESOURCES IN | 1/15/2036 5.1% |  | 26875PAQ4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/15/2036 |  |  | 97.98 |  |  |  |  | EOG RESOURCES IN | 1/15/2036 5.1% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 16830.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 330000.00 | 404593.55 | 390099.45 | 323344.56 | 323344.56 | -66754.89 | -66754.89 | 5.20 | False | 5.35 |  | 0.65 | 0.64 | 0.64 | 0.00 |  | XWTZDRYZPBUHIQBKDB46 | 26875PAQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31428XAT | FEDEX CORP | 8/1/2042 3.875% |  | 31428XAT3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TN | TENNESSEE | USD | US DOLLAR | 8/1/2042 |  |  | 75.61 |  |  |  |  | FEDEX CORP | 8/1/2042 3.875% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11625.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 237876.00 | 242266.01 | 226837.20 | 226837.20 | -15428.81 | -15428.81 | 5.12 | False | 6.21 |  | 0.46 | 0.45 | 0.45 | 0.00 |  | 549300E707U7WNPZN687 | 31428XAT<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31428XAU | FEDEX CORP | 4/15/2043 4.1% |  | 31428XAU0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TN | TENNESSEE | USD | US DOLLAR | 4/15/2043 |  |  | 77.10 |  |  |  |  | FEDEX CORP | 4/15/2043 4.1% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 28864.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 704000.00 | 740978.70 | 736835.50 | 542816.38 | 542816.38 | -194019.12 | -194019.12 | 5.32 | False | 6.25 |  | 1.09 | 1.08 | 1.08 | 0.00 |  | 549300E707U7WNPZN687 | 31428XAU<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 345370BZ | FORD MOTOR CO | 2/1/2029 6.375% |  | 345370BZ2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 2/1/2029 |  |  | 102.87 |  |  |  |  | FORD MOTOR CO | 2/1/2029 6.375% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15937.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 293889.54 | 274631.64 | 257176.00 | 257176.00 | -17455.64 | -17455.64 | 6.20 | False | 5.48 |  | 0.52 | 0.51 | 0.51 | 0.00 |  | 20S05OYHG0MQM4VUIC57 | 345370BZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 36966TCG | GEN ELEC CAP CRP | 6/15/2032 5.1% |  | 36966TCG5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 6/15/2032 |  |  | 99.40 |  |  |  |  | GEN ELEC CAP CRP | 6/15/2032 5.1% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14688.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 288000.00 | 311302.77 | 305051.22 | 286272.29 | 286272.29 | -18778.93 | -18778.93 | 5.13 | False | 5.20 |  | 0.58 | 0.57 | 0.57 | 0.00 |  | 3C7474T6CDKPR9K6YT90 | 36966TCG<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 37045VAS | GENERAL MOTORS C | 10/1/2028 5% |  | 37045VAS9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 10/1/2028 |  |  | 100.82 |  |  |  |  | GENERAL MOTORS C | 10/1/2028 5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 277543.53 | 264672.77 | 252047.25 | 252047.25 | -12625.52 | -12625.52 | 4.96 | True | 4.70 |  | 0.51 | 0.50 | 0.50 | 0.00 |  | 54930070NSV60J38I987 | 37045VAS<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 38143CEJ | GOLDMAN SACHS GP | 10/15/2033 4.6% |  | 38143CEJ6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 10/15/2033 |  |  | 97.67 |  |  |  |  | GOLDMAN SACHS GP | 10/15/2033 4.6% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 290036.35 | 280338.71 | 244165.75 | 244165.75 | -36172.96 | -36172.96 | 4.71 | False | 4.94 |  | 0.49 | 0.49 | 0.49 | 0.00 |  | 784F5XWPLTWKTBV3E584 | 38143CEJ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 38151F5Z | GOLDMAN SACHS GP | 08/16/2034 5.000000% |  | 38151F5Z2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 8/16/2034 |  |  | 96.59 |  |  |  |  | GOLDMAN SACHS GP | 08/16/2034 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 25000.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 506750.00 | 506268.67 | 482970.50 | 482970.50 | -23298.17 | -23298.17 | 5.18 | False | 5.48 |  | 0.97 | 0.96 | 0.96 | 0.00 |  |  | 38151F5Z<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 40057FQ7 | GS FINANCE CORP | FLOAT 03/10/31 |  | 40057FQ72 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 3/10/2031 |  |  | 84.73<br> M |  |  |  |  | GS FINANCE CORP | FLOAT 03/10/31 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 3040.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 247500.00 | 248356.03 | 211816.21 | 211816.21 | -36539.82 | -36539.82 | 1.44 | False | 4.25 |  | 0.43 | 0.42 | 0.42 | 0.00 |  |  | 40057FQ7<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 459200KB | IBM CORP | 5/15/2039 4.15% |  | 459200KB6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 5/15/2039 |  |  | 87.85 |  |  |  |  | IBM CORP | 5/15/2039 4.15% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 33200.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 800000.00 | 852324.41 | 843866.98 | 702817.60 | 702817.60 | -141049.38 | -141049.38 | 4.72 | False | 5.41 |  | 1.41 | 1.40 | 1.40 | 0.00 |  | VGRQXHF3J8VDLUA7XE92 | 459200KB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 458140BJ | INTEL CORP | 11/15/2049 3.25% |  | 458140BJ8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 11/15/2049 |  |  | 63.23 |  |  |  |  | INTEL CORP | 11/15/2049 3.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9750.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 305748.25 | 305306.59 | 189679.80 | 189679.80 | -115626.79 | -115626.79 | 5.14 | False | 6.19 |  | 0.38 | 0.38 | 0.38 | 0.00 |  | KNX4USFCNGPY45LOCE31 | 458140BJ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 494553AE | KINDER MORGAN | 02/01/2034 5.400000% |  | 494553AE0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 2/1/2034 |  |  | 101.30 |  |  |  |  | KINDER MORGAN | 02/01/2034 5.400000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 27000.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 515005.00 | 513911.95 | 506521.50 | 506521.50 | -7390.45 | -7390.45 | 5.33 | True | 5.20 |  | 1.02 | 1.01 | 1.01 | 0.00 |  | 549300WR7IX8XE0TBO16 | 494553AE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 539830BQ | LOCKHEED MARTIN | 6/15/2050 2.8% |  | 539830BQ1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MD | MARYLAND | USD | US DOLLAR | 6/15/2050 |  |  | 62.87 |  |  |  |  | LOCKHEED MARTIN | 6/15/2050 2.8% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8400.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 285171.37 | 286275.02 | 188600.70 | 188600.70 | -97674.32 | -97674.32 | 4.45 | False | 5.57 |  | 0.38 | 0.38 | 0.38 | 0.00 |  | DPRBOZP0K5RM2YE8UU08 | 539830BQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 58013MEN | MCDONALD'S CORP | 2/15/2042 3.7% |  | 58013MEN0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 2/15/2042 |  |  | 79.09 |  |  |  |  | MCDONALD'S CORP | 2/15/2042 3.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7400.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 200000.00 | 164068.00 | 166818.52 | 158187.20 | 158187.20 | -8631.32 | -8631.32 | 4.68 | False | 5.66 |  | 0.32 | 0.31 | 0.32 | 0.00 |  | UE2136O97NLB5BYP9H04 | 58013MEN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 58013MEZ | MCDONALD'S CORP | 12/9/2035 4.7% |  | 58013MEZ3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 12/9/2035 |  |  | 97.60 |  |  |  |  | MCDONALD'S CORP | 12/9/2035 4.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 528825.00 | 523794.70 | 488009.50 | 488009.50 | -35785.20 | -35785.20 | 4.82 | False | 5.00 |  | 0.98 | 0.97 | 0.97 | 0.00 |  | UE2136O97NLB5BYP9H04 | 58013MEZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 59156RAV | METLIFE INC | 8/1/2039 10.75% |  | 59156RAV0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 8/1/2039 |  |  | 133.38 |  |  |  |  | METLIFE INC | 8/1/2039 10.75% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 43537.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 405000.00 | 619463.85 | 594606.53 | 540184.95 | 540184.95 | -54421.58 | -54421.58 | 8.06 | True | 5.94 |  | 1.09 | 1.07 | 1.08 | 0.00 |  | C4BXATY60WC6XEOZDX54 | 59156RAV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 59156RBT | METLIFE INC | 5.875% 03/15/28 |  | 59156RBT4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 3/15/2028 |  |  | 101.63 |  |  |  |  | METLIFE INC | 5.875% 03/15/28 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14687.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 258404.07 | 254190.88 | 254062.50 | 254062.50 | -128.38 | -128.38 | 5.78 | True | 5.22 |  | 0.51 | 0.51 | 0.51 | 0.00 |  | C4BXATY60WC6XEOZDX54 | 59156RBT<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 594918AR | MICROSOFT CORP | 11/15/2042 3.5% |  | 594918AR5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | WA | WASHINGTON | USD | US DOLLAR | 11/15/2042 |  |  | 80.89 |  |  |  |  | MICROSOFT CORP | 11/15/2042 3.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15750.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 450000.00 | 469070.35 | 466884.46 | 364005.00 | 364005.00 | -102879.46 | -102879.46 | 4.33 | False | 5.18 |  | 0.73 | 0.72 | 0.73 | 0.00 |  | INR2EJN1ERAN0W5ZP974 | 594918AR<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 61762VAA | MORGAN STANLEY | 5.875% 09/15/26 |  | 61762VAA9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 9/15/2026 |  |  | 100.25 |  |  |  |  | MORGAN STANLEY | 5.875% 09/15/26 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 16450.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 280000.00 | 289762.45 | 282903.06 | 280700.00 | 280700.00 | -2203.06 | -2203.06 | 5.86 | True | 5.65 |  | 0.56 | 0.56 | 0.56 | 0.00 |  | IGJSJL3JD5P30I6NJZ34 | 61762VAA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 654106AD | NIKE INC | 5/1/2043 3.625% |  | 654106AD5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OR | OREGON | USD | US DOLLAR | 5/1/2043 |  |  | 79.52 |  |  |  |  | NIKE INC | 5/1/2043 3.625% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12433.75 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 343000.00 | 371318.30 | 368135.23 | 272744.68 | 272744.68 | -95390.55 | -95390.55 | 4.56 | False | 5.43 |  | 0.55 | 0.54 | 0.54 | 0.00 |  | 787RXPR0UX0O0XUXPZ81 | 654106AD<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 654106AL | NIKE INC | 3/27/2040 3.25% |  | 654106AL7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OR | OREGON | USD | US DOLLAR | 3/27/2040 |  |  | 79.46 |  |  |  |  | NIKE INC | 3/27/2040 3.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8125.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 272245.24 | 269045.65 | 198661.75 | 198661.75 | -70383.90 | -70383.90 | 4.09 | False | 5.27 |  | 0.40 | 0.40 | 0.40 | 0.00 |  | 787RXPR0UX0O0XUXPZ81 | 654106AL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 68389XBF | ORACLE CORP | 5/15/2045 4.125% |  | 68389XBF1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 5/15/2045 |  |  | 79.54 |  |  |  |  | ORACLE CORP | 5/15/2045 4.125% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 26812.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 650000.00 | 687076.87 | 683457.61 | 517028.85 | 517028.85 | -166428.76 | -166428.76 | 5.19 | False | 5.88 |  | 1.04 | 1.03 | 1.03 | 0.00 |  | 1Z4GXXU7ZHVWFCD8TV52 | 68389XBF<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 68389XBP | ORACLE CORP | 11/15/2037 3.8% |  | 68389XBP9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 11/15/2037 |  |  | 85.52 |  |  |  |  | ORACLE CORP | 11/15/2037 3.8% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15200.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 400000.00 | 430748.51 | 425660.91 | 342076.80 | 342076.80 | -83584.11 | -83584.11 | 4.44 | False | 5.42 |  | 0.69 | 0.68 | 0.68 | 0.00 |  | 1Z4GXXU7ZHVWFCD8TV52 | 68389XBP<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 718546AK | PHILLIPS 66 | 11/15/2034 4.650000% |  | 718546AK0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 11/15/2034 |  |  | 95.42 |  |  |  |  | PHILLIPS 66 | 11/15/2034 4.650000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23250.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 468840.00 | 469076.18 | 477114.50 | 477114.50 | 8038.32 | 8038.32 | 4.87 | False | 5.27 |  | 0.96 | 0.95 | 0.95 | 0.00 |  | 5493005JBO5YSIGK1814 | 718546AK<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 718547AY | PHILLIPS 66 CO | 03/15/2035 4.950000% |  | 718547AY8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 3/15/2035 |  |  | 96.68 |  |  |  |  | PHILLIPS 66 CO | 03/15/2035 4.950000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24750.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 502935.50 | 502778.56 | 483422.00 | 483422.00 | -19356.56 | -19356.56 | 5.12 | False | 5.39 |  | 0.97 | 0.96 | 0.96 | 0.00 |  | RVJMT2IZVVSKIRJJBH76 | 718547AY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 743315AQ | PROGRESSIVE CORP | 1/26/2045 3.7% |  | 743315AQ6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 1/26/2045 |  |  | 77.11 |  |  |  |  | PROGRESSIVE CORP | 1/26/2045 3.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15355.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 415000.00 | 452422.18 | 448687.00 | 320004.43 | 320004.43 | -128682.58 | -128682.58 | 4.80 | False | 5.65 |  | 0.64 | 0.64 | 0.64 | 0.00 |  | 529900TACNVLY9DCR586 | 743315AQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 747525AU | QUALCOMM INC | 5/20/2027 3.25% |  | 747525AU7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/20/2027 |  |  | 98.76 |  |  |  |  | QUALCOMM INC | 5/20/2027 3.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 200000.00 | 219006.97 | 207272.47 | 197515.40 | 197515.40 | -9757.07 | -9757.07 | 3.29 | False | 3.94 |  | 0.40 | 0.39 | 0.39 | 0.00 |  | H1J8DDZKZP6H7RWC0H53 | 747525AU<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 74834LBA | QUEST DIAGNOSTIC | 6/30/2029 4.2% |  | 74834LBA7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NJ | NEW JERSEY | USD | US DOLLAR | 6/30/2029 |  |  | 99.27 |  |  |  |  | QUEST DIAGNOSTIC | 6/30/2029 4.2% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 253166.95 | 251888.12 | 248169.00 | 248169.00 | -3719.12 | -3719.12 | 4.23 | False | 4.40 |  | 0.50 | 0.49 | 0.49 | 0.00 |  | 8MCWUBXQ0WE04KMXBX50 | 74834LBA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 731572AB | RALPH LAUREN | 6/15/2030 2.95% |  | 731572AB9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 6/15/2030 |  |  | 93.30 |  |  |  |  | RALPH LAUREN | 6/15/2030 2.95% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10325.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 350000.00 | 338795.67 | 342684.10 | 326556.65 | 326556.65 | -16127.45 | -16127.45 | 3.16 | False | 4.47 |  | 0.66 | 0.65 | 0.65 | 0.00 |  | HO1QNWM0IXBZ0QSMMO20 | 731572AB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 75513ECA | RAYTHEON TECH | 10/15/2040 4.875% |  | 75513ECA7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 10/15/2040 |  |  | 93.82 |  |  |  |  | RAYTHEON TECH | 10/15/2040 4.875% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 19500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 400000.00 | 461400.89 | 453634.91 | 375294.00 | 375294.00 | -78340.91 | -78340.91 | 5.20 | False | 5.48 |  | 0.75 | 0.75 | 0.75 | 0.00 |  | I07WOS4YJ0N7YRFE7309 | 75513ECA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 797440CB | SAN DIEGO G & E | 3/15/2032 3% |  | 797440CB8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 3/15/2032 |  |  | 89.73 |  |  |  |  | SAN DIEGO G & E | 3/15/2032 3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 210895.00 | 220371.05 | 224330.00 | 224330.00 | 3958.95 | 3958.95 | 3.34 | False | 4.81 |  | 0.45 | 0.45 | 0.45 | 0.00 |  | PBBKGKLRK5S5C0Y4T545 | 797440CB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 844741AN | SOUTHWEST AIR | 3/1/2027 7.375% |  | 844741AN8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 3/1/2027 |  |  | 103.69 |  |  |  |  | SOUTHWEST AIR | 3/1/2027 7.375% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 18437.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 277087.75 | 260092.31 | 259229.75 | 259229.75 | -862.56 | -862.56 | 7.11 | False | 5.04 |  | 0.52 | 0.52 | 0.52 | 0.00 |  | UDTZ87G0STFETI6HGH41 | 844741AN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 844741BF | SOUTHWEST AIR | 2/10/2030 2.625% |  | 844741BF4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 2/10/2030 |  |  | 91.10 |  |  |  |  | SOUTHWEST AIR | 2/10/2030 2.625% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2625.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 100000.00 | 101424.00 | 100878.38 | 91098.80 | 91098.80 | -9779.58 | -9779.58 | 2.88 | False | 4.80 |  | 0.18 | 0.18 | 0.18 | 0.00 |  | UDTZ87G0STFETI6HGH41 | 844741BF<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 844741BK | SOUTHWEST AIRLINES | 5.125% 6/15/2027 |  | 844741BK3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/15/2027 |  |  | 101.02 |  |  |  |  | SOUTHWEST AIRLINES | 5.125% 6/15/2027 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 25625.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 526897.38 | 510905.68 | 505110.00 | 505110.00 | -5795.68 | -5795.68 | 5.07 | True | 4.52 |  | 1.01 | 1.01 | 1.01 | 0.00 |  |  | 844741BK<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 855244AK | STARBUCKS CORP | 6/15/2026 2.45% |  | 855244AK5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | WA | WASHINGTON | USD | US DOLLAR | 6/15/2026 |  |  | 98.12 |  |  |  |  | STARBUCKS CORP | 6/15/2026 2.45% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6125.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 238319.26 | 247115.20 | 245308.25 | 245308.25 | -1806.95 | -1806.95 | 2.50 | False | 4.47 |  | 0.49 | 0.49 | 0.49 | 0.00 |  | OQSJ1DU9TAOC51A47K68 | 855244AK<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 863667AN | STRYKER CORP | 3/15/2026 3.5% |  | 863667AN1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 3/15/2026 |  |  | 99.32 |  |  |  |  | STRYKER CORP | 3/15/2026 3.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7385.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 211000.00 | 211644.61 | 211118.44 | 209559.29 | 209559.29 | -1559.15 | -1559.15 | 3.52 | False | 4.48 |  | 0.42 | 0.42 | 0.42 | 0.00 |  | 5493002F0SC4JTBU5137 | 863667AN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 254687FM | WALT DISNEY CO | 9/1/2049 2.75% |  | 254687FM3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 9/1/2049 |  |  | 63.04 |  |  |  |  | WALT DISNEY CO | 9/1/2049 2.75% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6875.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 245982.50 | 246303.34 | 157590.75 | 157590.75 | -88712.59 | -88712.59 | 4.36 | False | 5.54 |  | 0.32 | 0.31 | 0.31 | 0.00 |  | 549300GZKULIZ0WOW665 | 254687FM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 254687FY | WALT DISNEY CO | 5/13/2040 3.5% |  | 254687FY7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/13/2040 |  |  | 82.09 |  |  |  |  | WALT DISNEY CO | 5/13/2040 3.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 313944.16 | 312034.45 | 246272.10 | 246272.10 | -65762.35 | -65762.35 | 4.26 | False | 5.25 |  | 0.49 | 0.49 | 0.49 | 0.00 |  | 549300GZKULIZ0WOW665 | 254687FY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 25468PDN | WALT DISNEY CO | 7/30/2046 3% |  | 25468PDN3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 7/30/2046 |  |  | 67.55 |  |  |  |  | WALT DISNEY CO | 7/30/2046 3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7500.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 244707.50 | 245194.19 | 168867.00 | 168867.00 | -76327.19 | -76327.19 | 4.44 | False | 5.65 |  | 0.34 | 0.34 | 0.34 | 0.00 |  | 549300GZKULIZ0WOW665 | 25468PDN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 345397XU | FORD MOTOR CRED | 1/8/2026 4.389% |  | 345397XU2 | 1012 | Auto Manufacturers |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 1/8/2026 |  |  | 99.29 |  |  |  |  | FORD MOTOR CRED | 1/8/2026 4.389% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8778.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 200000.00 | 203989.38 | 200599.44 | 198584.60 | 198584.60 | -2014.84 | -2014.84 | 4.42 | False | 5.78 |  | 0.40 | 0.40 | 0.40 | 0.00 |  |  | 345397XU<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 89837LAD | PRINCETON UNIVERSITY | 7/1/2026 2.612% |  | 89837LAD7 | 1025 | Commercial Services |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 7/1/2026 |  |  | 98.48 |  |  |  |  | PRINCETON UNIVERSITY | 7/1/2026 2.612% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6530.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 247300.00 | 249319.93 | 246196.50 | 246196.50 | -3123.43 | -3123.43 | 2.65 | False | 4.18 |  | 0.49 | 0.49 | 0.49 | 0.00 |  |  | 89837LAD<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833BX | APPLE INC | 4.65% 02/23/2046 |  | 037833BX7 | 1036 | Electronics |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/23/2046 |  |  | 91.44 |  |  |  |  | APPLE INC | 4.65% 02/23/2046 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4650.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 100000.00 | 138079.67 | 134247.28 | 91436.60 | 91436.60 | -42810.68 | -42810.68 | 5.09 | False | 5.34 |  | 0.18 | 0.18 | 0.18 | 0.00 |  |  | 037833BX<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 458140BV | INTEL CORP | 08/12/2041 2.8% |  | 458140BV1 | 1097 | Semiconductor Device |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 8/12/2041 |  |  | 67.08 |  |  |  |  | INTEL CORP | 08/12/2041 2.8% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8400.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 234301.00 | 241254.85 | 201249.90 | 201249.90 | -40004.95 | -40004.95 | 4.17 | False | 6.02 |  | 0.40 | 0.40 | 0.40 | 0.00 |  |  | 458140BV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 11134LAR | BROADCOM CRP / CAYMN | 01/15/2028 3.50% |  | 11134LAR0 | D50D | Software |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/15/2028 |  |  | 97.97 |  |  |  |  | BROADCOM CRP / CAYMN | 01/15/2028 3.50% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7000.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 200000.00 | 188071.00 | 194133.81 | 195948.40 | 195948.40 | 1814.59 | 1814.59 | 3.57 | False | 4.35 |  | 0.39 | 0.39 | 0.39 | 0.00 |  |  | 11134LAR<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 594918CC | MICROSOFT CORP | 06/01/2050 2.525 |  | 594918CC6 | D50D | Software |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2050 |  |  | 61.90 |  |  |  |  | MICROSOFT CORP | 06/01/2050 2.525 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12625.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 467395.00 | 469889.15 | 309475.00 | 309475.00 | -160414.15 | -160414.15 | 4.08 | False | 5.30 |  | 0.62 | 0.62 | 0.62 | 0.00 |  |  | 594918CC<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 031162CR | AMGEN INC | 02/21/2040 3.15% |  | 031162CR9 | G40G | Pharmaceuticals |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/21/2040 |  |  | 76.77 |  |  |  |  | AMGEN INC | 02/21/2040 3.15% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9450.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 316802.21 | 314393.44 | 230311.20 | 230311.20 | -84082.24 | -84082.24 | 4.10 | False | 5.48 |  | 0.46 | 0.46 | 0.46 | 0.00 |  |  | 031162CR<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3142J6AP | FR RQ0013 | 06/01/2055 5.500000% |  | 3142J6AP8 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2055 |  |  | 99.97 |  |  |  |  | FR RQ0013 | 06/01/2055 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 27374.68 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 497721.46 | 495855.00 | 495855.00 | 497561.14 | 497561.14 | 1706.14 | 1706.14 | 5.50 | False | 5.50 |  | 1.00 | 0.99 | 0.99 | 500000.00 |  |  | 3142J6AP<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3132DWGY | FR SD8315 | 04/01/2053 5.000000% |  | 3132DWGY3 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/1/2053 |  |  | 98.40 |  |  |  |  | FR SD8315 | 04/01/2053 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 32128.10 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 642562.05 | 626493.18 | 626493.18 | 632287.61 | 632287.61 | 5794.43 | 5794.43 | 5.08 | False | 5.11 |  | 1.27 | 1.26 | 1.26 | 750000.00 |  |  | 3132DWGY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3132DWPG | FR SD8523 | 04/01/2055 5.000000% |  | 3132DWPG2 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/1/2055 |  |  | 98.05 |  |  |  |  | FR SD8523 | 04/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24539.60 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 490792.01 | 488798.17 | 488798.17 | 481234.03 | 481234.03 | -7564.14 | -7564.14 | 5.10 | False | 5.13 |  | 0.97 | 0.96 | 0.96 | 500000.00 |  |  | 3132DWPG<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31427MHZ | FR SL0247 | 01/01/2055 5.000000% |  | 31427MHZ7 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/1/2055 |  |  | 98.08 |  |  |  |  | FR SL0247 | 01/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23202.43 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 464048.58 | 457087.85 | 457087.85 | 455124.60 | 455124.60 | -1963.25 | -1963.25 | 5.10 | False | 5.13 |  | 0.91 | 0.91 | 0.91 | 500000.00 |  |  | 31427MHZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31427NSH | FR SL1419 | 05/01/2055 5.500000% |  | 31427NSH3 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 5/1/2055 |  |  | 100.02 |  |  |  |  | FR SL1419 | 05/01/2055 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 26833.21 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 487876.62 | 487266.77 | 487266.77 | 487971.41 | 487971.41 | 704.64 | 704.64 | 5.50 | False | 5.50 |  | 0.98 | 0.97 | 0.97 | 500000.00 |  |  | 31427NSH<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3132DP7M | FR SD2700 | 04/01/2053 5.000000% |  | 3132DP7M4 |  | UNGROUPED SECURITIES |  | FHLMC | FREDDIE MAC |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/1/2053 |  |  | 99.07 |  |  |  |  | FR SD2700 | 04/01/2053 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 82624.37 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 1652487.30 | 1623413.85 | 1624109.05 | 1637054.56 | 1637054.56 | 12945.51 | 12945.51 | 5.05 | False | 5.06 |  | 3.29 | 3.26 | 3.26 | 2000000.00 |  |  | 3132DP7M<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140YXSM | FN DA9523 | 03/01/2054 5.500000% |  | 3140YXSM4 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 3/1/2054 |  |  | 101.02 |  |  |  |  | FN DA9523 | 03/01/2054 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 48766.61 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 886665.56 | 895809.75 | 895696.76 | 895696.76 | 895696.76 | 0.00 | 0.00 | 5.44 | False | 5.43 |  | 1.80 | 1.78 | 1.78 | 1000000.00 |  |  | 3140YXSM<br> N | AC |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140AR4J | FN DC4424 | 10/01/2054 5.000000% |  | 3140AR4J6 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES | MO | MISSOURI | USD | US DOLLAR | 10/1/2054 |  |  | 98.08 |  |  |  |  | FN DC4424 | 10/01/2054 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 47989.85 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 959797.00 | 945249.92 | 945249.92 | 941330.79 | 941330.79 | -3919.13 | -3919.13 | 5.10 | False | 5.13 |  | 1.89 | 1.87 | 1.87 | 1000000.00 |  |  | 3140AR4J<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140B04M | FN DD0827 | 01/01/2055 6.000000% |  | 3140B04M7 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 1/1/2055 |  |  | 102.66 |  |  |  |  | FN DD0827 | 01/01/2055 6.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 29846.27 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 497437.81 | 504277.57 | 504259.34 | 510665.32 | 510665.32 | 6405.98 | 6405.98 | 5.84 | False | 5.81 |  | 1.03 | 1.02 | 1.02 | 500000.00 |  |  | 3140B04M<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140W02Z | FN FA0791 | 02/01/2054 4.500000% |  | 3140W02Z7 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/1/2054 |  |  | 95.82 |  |  |  |  | FN FA0791 | 02/01/2054 4.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 21810.20 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 484671.17 | 464981.40 | 465066.33 | 464387.73 | 464387.73 | -678.60 | -678.60 | 4.70 | False | 4.77 |  | 0.93 | 0.92 | 0.92 | 500000.00 |  |  | 3140W02Z<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140XRPL | FN FS9426 | 10/01/2054 5.000000% |  | 3140XRPL3 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 10/1/2054 |  |  | 98.08 |  |  |  |  | FN FS9426 | 10/01/2054 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 38482.94 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 769658.73 | 756189.71 | 756189.71 | 754851.03 | 754851.03 | -1338.68 | -1338.68 | 5.10 | False | 5.13 |  | 1.52 | 1.50 | 1.50 | 800000.00 |  |  | 3140XRPL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418ES4 | FN MA5038 | 06/01/2053 5.000000% |  | 31418ES43 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2053 |  |  | 98.31 |  |  |  |  | FN MA5038 | 06/01/2053 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 43238.91 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 864778.14 | 848563.55 | 848823.82 | 850138.66 | 850138.66 | 1314.84 | 1314.84 | 5.09 | False | 5.11 |  | 1.71 | 1.69 | 1.69 | 1000000.00 |  |  | 31418ES4<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418ET6 | FN MA5072 | 07/01/2053 5.500000% |  | 31418ET67 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 7/1/2053 |  |  | 100.06 |  |  |  |  | FN MA5072 | 07/01/2053 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23013.46 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 418426.53 | 405350.91 | 405654.94 | 418679.76 | 418679.76 | 13024.82 | 13024.82 | 5.50 | False | 5.50 |  | 0.84 | 0.83 | 0.83 | 500000.00 |  |  | 31418ET6<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418EV8 | FN MA5138 | 09/01/2053 5.500000% |  | 31418EV80 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 9/1/2053 |  |  | 100.15 |  |  |  |  | FN MA5138 | 09/01/2053 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 34921.34 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 634933.55 | 606361.55 | 606991.34 | 635911.34 | 635911.34 | 28920.00 | 28920.00 | 5.49 | False | 5.49 |  | 1.28 | 1.27 | 1.27 | 750000.00 |  |  | 31418EV8<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418EW3 | FN MA5165 | 10/01/2053 5.500000% |  | 31418EW30 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 10/1/2053 |  |  | 99.97 |  |  |  |  | FN MA5165 | 10/01/2053 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 65421.36 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 1189479.30 | 1133811.66 | 1135022.20 | 1189097.71 | 1189097.71 | 54075.51 | 54075.51 | 5.50 | False | 5.50 |  | 2.39 | 2.37 | 2.37 | 1400000.00 |  |  | 31418EW3<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418FF3 | FN MA5585 | 01/01/2055 5.000000% |  | 31418FF36 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/1/2055 |  |  | 98.05 |  |  |  |  | FN MA5585 | 01/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24188.73 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 483774.60 | 471302.31 | 471302.31 | 474364.51 | 474364.51 | 3062.20 | 3062.20 | 5.10 | False | 5.13 |  | 0.95 | 0.94 | 0.94 | 500000.00 |  |  | 31418FF3<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418FLQ | FN MA5734 | 06/01/2055 5.000000% |  | 31418FLQ8 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2055 |  |  | 98.05 |  |  |  |  | FN MA5734 | 06/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24911.46 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 498229.30 | 482036.84 | 482036.84 | 488532.71 | 488532.71 | 6495.87 | 6495.87 | 5.10 | False | 5.13 |  | 0.98 | 0.97 | 0.97 | 500000.00 |  |  | 31418FLQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | MISXX | Morgan Stanley Insti | tutional Liquidity F |  | 61747C582 | 1078 | Money Market Fund |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 7/1/2025 |  |  | 100.00 |  |  |  |  | Morgan Stanley Insti | tutional Liquidity F |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 141104.21 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 3382419.52 | 3382419.52 | 3382419.52 | 3382419.52 | 3382419.52 | 0.00 | 0.00 | 4.17 | False | 4.16 |  | 6.80 | 6.73 | 6.74 | 0.00 |  |  | MISXX<br> N | AC |
| 426 | UVA Unconstrained Medium-Term Fixed | 01179RM6 | ALASKA ST MUNI BOND | B 12/1/2036 2.602% |  | 01179RM67 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | AK | ALASKA | USD | US DOLLAR | 12/1/2036 |  |  | 78.78 |  |  |  |  | ALASKA ST MUNI BOND | B 12/1/2036 2.602% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9107.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 350000.00 | 344606.50 | 345595.83 | 275733.50 | 275733.50 | -69862.33 | -69862.33 | 3.30 | False | 5.07 |  | 0.55 | 0.55 | 0.55 | 0.00 |  |  | 01179RM6<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 01179RM7 | ALASKA ST MUNI BOND | B 12/1/2041 3.028% |  | 01179RM75 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | AK | ALASKA | USD | US DOLLAR | 12/1/2041 |  |  | 76.03 |  |  |  |  | ALASKA ST MUNI BOND | B 12/1/2041 3.028% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10598.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 350000.00 | 361236.80 | 359817.19 | 266091.00 | 266091.00 | -93726.19 | -93726.19 | 3.98 | False | 5.22 |  | 0.53 | 0.53 | 0.53 | 0.00 |  |  | 01179RM7<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 040484UU | ARIZONA BRD OF RGTS | U 6/1/2044 3.9% |  | 040484UU9 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | AZ | ARIZONA | USD | US DOLLAR | 6/1/2044 |  |  | 78.29 |  |  |  |  | ARIZONA BRD OF RGTS | U 6/1/2044 3.9% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13650.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 350000.00 | 418086.60 | 410681.98 | 274004.50 | 274004.50 | -136677.48 | -136677.48 | 4.98 | False | 5.81 |  | 0.55 | 0.55 | 0.55 | 0.00 |  |  | 040484UU<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 072024YB | BAY AREA CA TOLL AUT | H 4/1/2036 2.913% |  | 072024YB2 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 4/1/2036 |  |  | 81.66 |  |  |  |  | BAY AREA CA TOLL AUT | H 4/1/2036 2.913% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10195.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 350000.00 | 354595.06 | 353701.24 | 285813.50 | 285813.50 | -67887.74 | -67887.74 | 3.57 | False | 5.16 |  | 0.57 | 0.57 | 0.57 | 0.00 |  | 5493001FUZGUQMIP5D78 | 072024YB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 110290NJ | BRISTOL TWP PA SCH D | I 6/1/2043 3.65% |  | 110290NJ8 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 6/1/2043 |  |  | 74.91 |  |  |  |  | BRISTOL TWP PA SCH D | I 6/1/2043 3.65% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9307.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 255000.00 | 261481.01 | 260784.38 | 191010.30 | 191010.30 | -69774.08 | -69774.08 | 4.87 | False | 5.94 |  | 0.38 | 0.38 | 0.38 | 0.00 |  |  | 110290NJ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 13077DMZ | CA ST UNIV-D | 11/1/2038 2.67% |  | 13077DMZ2 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 11/1/2038 |  |  | 78.31 |  |  |  |  | CA ST UNIV-D | 11/1/2038 2.67% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8010.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 290778.00 | 292210.28 | 234933.00 | 234933.00 | -57277.28 | -57277.28 | 3.41 | False | 4.90 |  | 0.47 | 0.47 | 0.47 | 0.00 |  |  | 13077DMZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 38122NZX | GOLDEN ST TOBACCO SE | C 6/1/2038 3.115% |  | 38122NZX3 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 6/1/2038 |  |  | 80.73 |  |  |  |  | GOLDEN ST TOBACCO SE | C 6/1/2038 3.115% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7787.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 258212.21 | 256884.29 | 201812.50 | 201812.50 | -55071.79 | -55071.79 | 3.86 | False | 5.18 |  | 0.41 | 0.40 | 0.40 | 0.00 |  |  | 38122NZX<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 561850MA | MANATEE CNTY FL PORT | 10/1/2041 3.187% |  | 561850MA3 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 10/1/2041 |  |  | 76.86 |  |  |  |  | MANATEE CNTY FL PORT | 10/1/2041 3.187% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6374.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 200000.00 | 209605.73 | 208383.11 | 153710.00 | 153710.00 | -54673.11 | -54673.11 | 4.15 | False | 5.33 |  | 0.31 | 0.31 | 0.31 | 0.00 |  |  | 561850MA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 573394EN | MARTINEZ - REF - TXBL | 8/1/2040 2.7% |  | 573394EN9 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 8/1/2040 |  |  | 75.19 |  |  |  |  | MARTINEZ - REF - TXBL | 8/1/2040 2.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8910.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 330000.00 | 331071.30 | 330923.68 | 248133.60 | 248133.60 | -82790.08 | -82790.08 | 3.59 | False | 5.07 |  | 0.50 | 0.49 | 0.49 | 0.00 |  |  | 573394EN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 59335KDA | MIAMI-DADE - A-3-TXBL | 10/1/2038 2.762% |  | 59335KDA2 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 10/1/2038 |  |  | 76.70 |  |  |  |  | MIAMI-DADE - A-3-TXBL | 10/1/2038 2.762% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6905.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 247407.50 | 247813.50 | 191742.50 | 191742.50 | -56071.00 | -56071.00 | 3.60 | False | 5.22 |  | 0.39 | 0.38 | 0.38 | 0.00 |  | 549300QG0NBD9HULR263 | 59335KDA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 6460667F | NEW JERSEY ST EDUCTN | L 7/1/2035 3.468% |  | 6460667F1 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | NJ | NEW JERSEY | USD | US DOLLAR | 7/1/2035 |  |  | 88.13 |  |  |  |  | NEW JERSEY ST EDUCTN | L 7/1/2035 3.468% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13872.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 400000.00 | 430085.08 | 423857.55 | 352524.00 | 352524.00 | -71333.55 | -71333.55 | 3.94 | False | 4.99 |  | 0.71 | 0.70 | 0.70 | 0.00 |  | 549300UTOO4X537XXG70 | 6460667F<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 64966MWM | NEW YORK-E-2-TXBL | 3/1/2026 3.45% |  | 64966MWM7 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 3/1/2026 |  |  | 99.49 |  |  |  |  | NEW YORK-E-2-TXBL | 3/1/2026 3.45% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5865.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 170000.00 | 170755.50 | 170135.17 | 169126.20 | 169126.20 | -1008.97 | -1008.97 | 3.47 | False | 4.23 |  | 0.34 | 0.34 | 0.34 | 0.00 |  | 549300ABYZD2SFD5JB29 | 64966MWM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 70917S3J | PENNSYLVANIA ST HGR | E 6/15/2045 4.3% |  | 70917S3J0 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 6/15/2045 |  |  | 84.84 |  |  |  |  | PENNSYLVANIA ST HGR | E 6/15/2045 4.3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10750.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 266118.67 | 264673.74 | 212090.00 | 212090.00 | -52583.74 | -52583.74 | 5.07 | False | 5.57 |  | 0.43 | 0.42 | 0.42 | 0.00 |  |  | 70917S3J<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 709235T7 | PENNSYLVANIA ST UNIV | 9/1/2043 2.79% |  | 709235T70 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 9/1/2043 |  |  | 72.51 |  |  |  |  | PENNSYLVANIA ST UNIV | 9/1/2043 2.79% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5580.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 200000.00 | 209153.71 | 208090.09 | 145018.00 | 145018.00 | -63072.09 | -63072.09 | 3.85 | False | 5.13 |  | 0.29 | 0.29 | 0.29 | 0.00 |  | 549300QDK4O4XCJ47X56 | 709235T7<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 798755GM | SAN MARCOS USD - TXBL | 8/1/2040 3.377% |  | 798755GM0 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 8/1/2040 |  |  | 83.20 |  |  |  |  | SAN MARCOS USD - TXBL | 8/1/2040 3.377% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11819.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 350000.00 | 356096.56 | 355286.99 | 291207.00 | 291207.00 | -64079.99 | -64079.99 | 4.06 | False | 4.97 |  | 0.59 | 0.58 | 0.58 | 0.00 |  |  | 798755GM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 875301HY | TAMPA-HILLSBOROUGH | 7/1/2037 2.692% |  | 875301HY2 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 7/1/2037 |  |  | 79.59 |  |  |  |  | TAMPA-HILLSBOROUGH | 7/1/2037 2.692% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13594.60 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 505000.00 | 518669.73 | 516242.18 | 401914.35 | 401914.35 | -114327.83 | -114327.83 | 3.38 | False | 4.97 |  | 0.81 | 0.80 | 0.80 | 0.00 |  |  | 875301HY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 899141BL | TULARE CO BRD ED-TXB | L 5/1/2043 3.64% |  | 899141BL8 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/1/2043 |  |  | 72.87 |  |  |  |  | TULARE CO BRD ED-TXB | L 5/1/2043 3.64% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9100.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 249183.17 | 249262.20 | 182180.00 | 182180.00 | -67082.20 | -67082.20 | 5.00 | False | 6.17 |  | 0.37 | 0.36 | 0.36 | 0.00 |  |  | 899141BL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 913366JA | UNIV CA RGTS-M-TXBL | 5/15/2026 2.459% |  | 913366JA9 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/15/2026 |  |  | 98.28 |  |  |  |  | UNIV CA RGTS-M-TXBL | 5/15/2026 2.459% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1721.30 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 70000.00 | 67870.95 | 69512.15 | 68797.40 | 68797.40 | -714.75 | -714.75 | 2.50 | False | 4.48 |  | 0.14 | 0.14 | 0.14 | 0.00 |  | RRR42I7GG51DB5HDQR14 | 913366JA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 91412G2Y | UNIV OF CALIFORNIA-N | 5/15/2027 3.039% |  | 91412G2Y0 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/15/2027 |  |  | 98.45 |  |  |  |  | UNIV OF CALIFORNIA-N | 5/15/2027 3.039% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 759.75 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 25000.00 | 24494.92 | 24800.51 | 24612.00 | 24612.00 | -188.51 | -188.51 | 3.09 | False | 3.90 |  | 0.05 | 0.05 | 0.05 | 0.00 |  |  | 91412G2Y<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 914805EX | UNIV OF PITTSBURGH P | A 9/15/2026 3.127% |  | 914805EX0 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 9/15/2026 |  |  | 98.88 |  |  |  |  | UNIV OF PITTSBURGH P | A 9/15/2026 3.127% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4377.80 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 140000.00 | 141231.44 | 140354.51 | 138432.00 | 138432.00 | -1922.51 | -1922.51 | 3.16 | False | 4.08 |  | 0.28 | 0.28 | 0.28 | 0.00 |  | 5493002C83QSGL8ETT42 | 914805EX<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 917567FQ | UTAH ST TRANSIT AUTH | 12/15/2038 2.774% |  | 917567FQ7 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | UT | UTAH | USD | US DOLLAR | 12/15/2038 |  |  | 80.52 |  |  |  |  | UTAH ST TRANSIT AUTH | 12/15/2038 2.774% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15257.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 550000.00 | 563106.02 | 561038.00 | 442849.00 | 442849.00 | -118189.00 | -118189.00 | 3.45 | False | 4.75 |  | 0.89 | 0.88 | 0.88 | 0.00 |  |  | 917567FQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 70914PMJ | PA TXB-B-BAB | 2/15/2030 5.45% |  | 70914PMJ8 | 1080 | Municipal |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 2/15/2030 |  |  | 102.16 |  |  |  |  | PA TXB-B-BAB | 2/15/2030 5.45% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 16350.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 300000.00 | 341777.34 | 326171.31 | 306471.00 | 306471.00 | -19700.31 | -19700.31 | 5.33 | False | 4.92 |  | 0.62 | 0.61 | 0.61 | 0.00 |  |  | 70914PMJ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810QZ | US TREASURY N/B | 2/15/2043 3.125% |  | 912810QZ4 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2043 |  |  | 80.43 |  |  |  |  | US TREASURY N/B | 2/15/2043 3.125% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 28125.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 900000.00 | 737688.94 | 751717.27 | 723902.31 | 723902.31 | -27814.96 | -27814.96 | 3.89 | False | 4.78 |  | 1.45 | 1.44 | 1.44 | 0.00 |  | 254900HROIFWPRGM1V77 | 912810QZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810TD | US TREASURY N/B | 2/15/2052 2.25% |  | 912810TD0 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2052 |  |  | 61.18 |  |  |  |  | US TREASURY N/B | 2/15/2052 2.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 33750.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 1500000.00 | 1430071.98 | 1435283.53 | 917753.85 | 917753.85 | -517529.68 | -517529.68 | 3.68 | False | 4.87 |  | 1.84 | 1.83 | 1.83 | 0.00 |  | 254900HROIFWPRGM1V77 | 912810TD<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810TH | US TREASURY N/B | 5/15/2042 3.25% |  | 912810TH1 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 5/15/2042 |  |  | 82.78 |  |  |  |  | US TREASURY N/B | 5/15/2042 3.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 16250.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 500000.00 | 494273.44 | 494273.44 | 413906.25 | 413906.25 | -80367.19 | -80367.19 | 3.93 | False | 4.74 |  | 0.83 | 0.82 | 0.82 | 0.00 |  | 254900HROIFWPRGM1V77 | 912810TH<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810TM | US TREASURY N/B | 11/15/2042 4.000000% |  | 912810TM0 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 11/15/2042 |  |  | 91.30 |  |  |  |  | US TREASURY N/B | 11/15/2042 4.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 40000.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 1000000.00 | 970578.13 | 970578.13 | 913007.80 | 913007.80 | -57570.33 | -57570.33 | 4.38 | False | 4.74 |  | 1.83 | 1.82 | 1.82 | 0.00 |  | 254900HROIFWPRGM1V77 | 912810TM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 91282CDY | US TREASURY N/B | 2/15/2032 1.875% |  | 91282CDY4 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2032 |  |  | 87.85 |  |  |  |  | US TREASURY N/B | 2/15/2032 1.875% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4687.50 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 250000.00 | 227652.80 | 234163.56 | 219619.15 | 219619.15 | -14544.41 | -14544.41 | 2.13 | False | 3.98 |  | 0.44 | 0.44 | 0.44 | 0.00 |  | 254900HROIFWPRGM1V77 | 91282CDY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810RK | US TREASURY N/B | 2/15/2045 2.5% |  | 912810RK6 | K60K | Government/Agency |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2045 |  |  | 70.47 |  |  |  |  | US TREASURY N/B | 2/15/2045 2.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 18750.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 750000.00 | 577168.97 | 587783.66 | 528544.95 | 528544.95 | -59238.71 | -59238.71 | 3.55 | False | 4.85 |  | 1.06 | 1.05 | 1.05 | 0.00 |  |  | 912810RK<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810SA | US TREASURY N/B | 2/15/2048 3% |  | 912810SA7 | K60K | Government/Agency |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2048 |  |  | 74.38 |  |  |  |  | US TREASURY N/B | 2/15/2048 3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 30000.00 | L<br> N |  |  | 6/30/2025<br> C |  | 426;USD | USD | 1000000.00 | 823703.13 | 827755.15 | 743789.10 | 743789.10 | -83966.05 | -83966.05 | 4.03 | False | 4.88 |  | 1.49 | 1.48 | 1.48 | 0.00 |  |  | 912810SA<br> N | MP |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SPINNAKER ETF SERIES

- **b. Investment Company Act file number:** 811-22398

- **c. CIK number of Registrant:** 0001484018

- **d. LEI of Registrant:** 54930056GHDI2JOI6X90

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

  - **Street Address 1:** 116 SOUTH FRANKLIN STREET

  - **City:** ROCKY MOUNT

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 27804-5707

  - **Telephone number:** 252-972-9922

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

- **a. Name of Series:** UVA Unconstrained Medium-Term Fixed Income ETF

- **b. EDGAR series identifier (if any):** S000057345

- **c. LEI of Series:** 549300XJDE5AD9OP5X97

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $50257207.97

**Total Liabilities:** $50894.77

**Net Assets:** $50206313.20

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.96 | **1-Year:** 98.4 | **5-Year:** 1329.13 | **10-Year:** 3209.75 | **30-Year:** 43791.77

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 15.26 | **30-Year:** 214.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000183025 | -0.15%               | -0.69%               | 1.98%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1600.51                 | $-237266.21                                |
| Month 2  | $1953.12                 | $-488352.59                                |
| Month 3  | $63988.23                | $802175.73                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BlackRock Taxable Mu | CLOSED-E | CUSIP: 09248X100<br>LEI: SNYX4R2CEK5Q5D25DZ39 | Long             | EC               | CORP              | US        |     26978 | NS      | $434615.58    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON VANCE LTD      | CLOSED-E | CUSIP: 27828H105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25000 | NS      | $256500.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Taxable M | CLOSED-E | CUSIP: 401664107<br>LEI: O7RPTBV08XOX3ZU53L78 | Long             | EC               | CORP              | US        |     24328 | NS      | $365893.12    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| FR SD8368            | CMO      | CUSIP: 3132DWJM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    596913 | NS      | $606785.97    | 1.21%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AFFIL MANAGERS       | CORPBOND | CUSIP: 008252AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $500137.50    | 1.00%             | 2034-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC         | CORPBOND | CUSIP: 02079KAE7<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    500000 | NS      | $334619.50    | 0.67%             | 2040-08-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC         | CORPBOND | CUSIP: 02079KAF4<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    750000 | NS      | $418144.50    | 0.83%             | 2050-08-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC     | CORPBOND | CUSIP: 02209SAM5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    400000 | NS      | $324948.80    | 0.65%             | 2042-08-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC     | CORPBOND | CUSIP: 02209SAQ6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    250000 | NS      | $207989.00    | 0.41%             | 2043-05-02      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC     | CORPBOND | CUSIP: 02209SBE2<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    250000 | NS      | $252980.75    | 0.50%             | 2039-02-14      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC       | CORPBOND | CUSIP: 023135BT2<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    750000 | NS      | $448467.75    | 0.89%             | 2050-06-03      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMGEN INC            | CORPBOND | CUSIP: 031162BP4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    100000 | NS      | $92123.20     | 0.18%             | 2043-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AMGEN INC            | CORPBOND | CUSIP: 031162BZ2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    300000 | NS      | $254926.50    | 0.51%             | 2045-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| AMGEN INC            | CORPBOND | CUSIP: 031162CR9<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    300000 | NS      | $230311.20    | 0.46%             | 2040-02-21      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833AL4<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    450000 | NS      | $377083.80    | 0.75%             | 2043-05-04      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833BA7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    500000 | NS      | $387199.00    | 0.77%             | 2045-02-09      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833BX7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    100000 | NS      | $91436.60     | 0.18%             | 2046-02-23      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833CH1<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    400000 | NS      | $342960.40    | 0.68%             | 2047-02-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833DB3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    500000 | NS      | $489149.00    | 0.97%             | 2027-09-12      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833DD9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    350000 | NS      | $276372.60    | 0.55%             | 2047-09-12      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833EE6<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    500000 | NS      | $348878.50    | 0.69%             | 2041-02-08      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMER CRP     | CORPBOND | CUSIP: 060505EU4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | NS      | $504075.00    | 1.00%             | 2026-03-10      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLO     | CORPBOND | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    350000 | NS      | $341250.00    | 0.68%             | 2026-12-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAW     | CORPBOND | CUSIP: 084659AV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | NS      | $242302.75    | 0.48%             | 2030-07-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATH       | CORPBOND | CUSIP: 084664CV1<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    300000 | NS      | $194077.50    | 0.39%             | 2050-10-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS        | CORPBOND | CUSIP: 110122CQ9<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    500000 | NS      | $444385.50    | 0.89%             | 2039-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BROADCOM CRP / CAYMN | CORPBOND | CUSIP: 11134LAR0<br>LEI: KFFV4ZWM9DJH1ND3BD89 | Long             | DBT              | CORP              | US        |    200000 | NS      | $195948.40    | 0.39%             | 2028-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC         | CORPBOND | CUSIP: 11135FAS0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    250000 | NS      | $242329.75    | 0.48%             | 2032-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| BROWN-FORMAN         | CORPBOND | CUSIP: 115637AP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | NS      | $283965.00    | 0.57%             | 2045-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES        | CORPBOND | CUSIP: 12505BAE0<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    100000 | NS      | $88529.10     | 0.18%             | 2031-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CINCINNATI FINL      | CORPBOND | CUSIP: 172062AE1<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | DBT              | CORP              | US        |    250000 | NS      | $265554.00    | 0.53%             | 2034-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CINCINNATI FINL      | CORPBOND | CUSIP: 172062AF8<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | DBT              | CORP              | US        |     59000 | NS      | $63097.43     | 0.13%             | 2028-05-15      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL     | CORPBOND | CUSIP: 17328YZV9<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |    250000 | NS      | $219706.31    | 0.44%             | 2031-03-17      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS | CORPBOND | CUSIP: 21036PBC1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    200000 | NS      | $201174.00    | 0.40%             | 2028-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES      | CORPBOND | CUSIP: 247361ZN1<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    155000 | NS      | $153643.75    | 0.31%             | 2028-04-19      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY CO       | CORPBOND | CUSIP: 254687FM3<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    250000 | NS      | $157590.75    | 0.31%             | 2049-09-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY CO       | CORPBOND | CUSIP: 254687FY7<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    300000 | NS      | $246272.10    | 0.49%             | 2040-05-13      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY CO       | CORPBOND | CUSIP: 25468PDN3<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |    250000 | NS      | $168867.00    | 0.34%             | 2046-07-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES IN     | CORPBOND | CUSIP: 26875PAQ4<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    330000 | NS      | $323344.56    | 0.64%             | 2036-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| EBAY INC             | CORPBOND | CUSIP: 278642AF0<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |   1068000 | NS      | $865579.82    | 1.72%             | 2042-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EBAY INC             | CORPBOND | CUSIP: 278642AW3<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |    190000 | NS      | $175910.55    | 0.35%             | 2030-03-11      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| ELECTRONIC ARTS      | CORPBOND | CUSIP: 285512AE9<br>LEI: 549300O7A67PUEYKDL45 | Long             | DBT              | CORP              | US        |    250000 | NS      | $216346.00    | 0.43%             | 2031-02-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP           | CORPBOND | CUSIP: 31428XAT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | NS      | $226837.20    | 0.45%             | 2042-08-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP           | CORPBOND | CUSIP: 31428XAU0<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    704000 | NS      | $542816.38    | 1.08%             | 2043-04-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CO        | CORPBOND | CUSIP: 345370BZ2<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    250000 | NS      | $257176.00    | 0.51%             | 2029-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CRED      | CORPBOND | CUSIP: 345397XU2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | NS      | $198584.60    | 0.40%             | 2026-01-08      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| GEN ELEC CAP CRP     | CORPBOND | CUSIP: 36966TCG5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    288000 | NS      | $286272.29    | 0.57%             | 2032-06-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS C     | CORPBOND | CUSIP: 37045VAS9<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    250000 | NS      | $252047.25    | 0.50%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GP     | CORPBOND | CUSIP: 38143CEJ6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    250000 | NS      | $244165.75    | 0.49%             | 2033-10-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GP     | CORPBOND | CUSIP: 38151F5Z2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $482970.50    | 0.96%             | 2034-08-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GS FINANCE CORP      | CORPBOND | CUSIP: 40057FQ72<br>LEI: 549300FR80KBVO6DRL61 | Long             | DBT              | CORP              | US        |    250000 | NS      | $219706.31    | 0.44%             | 2031-03-10      | Variable      | 1.22%                 | No            |                  2 | On Loan: No      |
| INTEL CORP           | CORPBOND | CUSIP: 458140BJ8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    300000 | NS      | $189679.80    | 0.38%             | 2049-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INTEL CORP           | CORPBOND | CUSIP: 458140BV1<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    300000 | NS      | $201249.90    | 0.40%             | 2041-08-12      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| IBM CORP             | CORPBOND | CUSIP: 459200KB6<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    800000 | NS      | $702817.60    | 1.40%             | 2039-05-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN        | CORPBOND | CUSIP: 494553AE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $506521.50    | 1.01%             | 2034-02-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN      | CORPBOND | CUSIP: 539830BQ1<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    300000 | NS      | $188600.70    | 0.38%             | 2050-06-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP      | CORPBOND | CUSIP: 58013MEN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | NS      | $158187.20    | 0.32%             | 2042-02-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP      | CORPBOND | CUSIP: 58013MEZ3<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    500000 | NS      | $488009.50    | 0.97%             | 2035-12-09      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| METLIFE INC          | CORPBOND | CUSIP: 59156RAV0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    405000 | NS      | $540184.95    | 1.08%             | 2039-08-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| METLIFE INC          | CORPBOND | CUSIP: 59156RBT4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    250000 | NS      | $254062.50    | 0.51%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP       | CORPBOND | CUSIP: 594918AR5<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    450000 | NS      | $364005.00    | 0.73%             | 2042-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP       | CORPBOND | CUSIP: 594918CC6<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    500000 | NS      | $309475.00    | 0.62%             | 2050-06-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY       | CORPBOND | CUSIP: 61762VAA9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    280000 | NS      | $280700.00    | 0.56%             | 2026-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NIKE INC             | CORPBOND | CUSIP: 654106AD5<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | DBT              | CORP              | US        |    343000 | NS      | $272744.68    | 0.54%             | 2043-05-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| NIKE INC             | CORPBOND | CUSIP: 654106AL7<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | DBT              | CORP              | US        |    250000 | NS      | $198661.75    | 0.40%             | 2040-03-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP          | CORPBOND | CUSIP: 68389XBF1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    650000 | NS      | $517028.85    | 1.03%             | 2045-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP          | CORPBOND | CUSIP: 68389XBP9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    400000 | NS      | $342076.80    | 0.68%             | 2037-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66          | CORPBOND | CUSIP: 718546AK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $477114.50    | 0.95%             | 2034-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO       | CORPBOND | CUSIP: 718547AY8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $483422.00    | 0.96%             | 2035-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| RALPH LAUREN         | CORPBOND | CUSIP: 731572AB9<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | DBT              | CORP              | US        |    350000 | NS      | $326556.65    | 0.65%             | 2030-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP     | CORPBOND | CUSIP: 743315AQ6<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |    415000 | NS      | $320004.43    | 0.64%             | 2045-01-26      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INC         | CORPBOND | CUSIP: 747525AU7<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    200000 | NS      | $197515.40    | 0.39%             | 2027-05-20      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| QUEST DIAGNOSTIC     | CORPBOND | CUSIP: 74834LBA7<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |    250000 | NS      | $248169.00    | 0.49%             | 2029-06-30      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| RAYTHEON TECH        | CORPBOND | CUSIP: 75513ECA7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    400000 | NS      | $375294.00    | 0.75%             | 2040-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO G & E      | CORPBOND | CUSIP: 797440CB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | NS      | $224330.00    | 0.45%             | 2032-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIR        | CORPBOND | CUSIP: 844741AN8<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    250000 | NS      | $259229.75    | 0.52%             | 2027-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIR        | CORPBOND | CUSIP: 844741BF4<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    100000 | NS      | $91098.80     | 0.18%             | 2030-02-10      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES   | CORPBOND | CUSIP: 844741BK3<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    500000 | NS      | $505110.00    | 1.01%             | 2027-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP       | CORPBOND | CUSIP: 855244AK5<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    250000 | NS      | $245308.25    | 0.49%             | 2026-06-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP         | CORPBOND | CUSIP: 863667AN1<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    211000 | NS      | $209559.29    | 0.42%             | 2026-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PRINCETON UNIVERSITY | CORPBOND | CUSIP: 89837LAD7<br>LEI: 549300PJZYINN64GDJ90 | Long             | DBT              | CORP              | US        |    250000 | NS      | $246196.50    | 0.49%             | 2026-07-01      | Fixed         | 2.61%                 | No            |                  2 | On Loan: No      |
| FR SD8315            | FHLB     | CUSIP: 3132DWGY3<br>LEI: N/A                  | Long             | DBT              |  | US        |    642562 | NS      | $632287.61    | 1.26%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FR SD8523            | FHLB     | CUSIP: 3132DWPG2<br>LEI: N/A                  | Long             | DBT              |  | US        |    490792 | NS      | $481234.03    | 0.96%             | 2055-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FR SL0247            | FHLB     | CUSIP: 31427MHZ7<br>LEI: N/A                  | Long             | DBT              |  | US        |    464049 | NS      | $455124.60    | 0.91%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FR SL1419            | FHLB     | CUSIP: 31427NSH3<br>LEI: N/A                  | Long             | DBT              |  | US        |    487877 | NS      | $487971.41    | 0.97%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FR RQ0013            | FHLB     | CUSIP: 3142J6AP8<br>LEI: N/A                  | Long             | DBT              |  | US        |    497722 | NS      | $497561.14    | 0.99%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FR SD2700            | FHLMC    | CUSIP: 3132DP7M4<br>LEI: N/A                  | Long             | DBT              |  | US        |   1652487 | NS      | $1637054.56   | 3.26%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN DC4424            | FNMASECY | CUSIP: 3140AR4J6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    959797 | NS      | $941330.79    | 1.87%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN DD0827            | FNMASECY | CUSIP: 3140B04M7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    497438 | NS      | $510665.32    | 1.02%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FN FA0791            | FNMASECY | CUSIP: 3140W02Z7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    484671 | NS      | $464387.73    | 0.92%             | 2054-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FN FS9426            | FNMASECY | CUSIP: 3140XRPL3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    769659 | NS      | $754851.03    | 1.50%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN DA9523            | FNMASECY | CUSIP: 3140YXSM4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    886666 | NS      | $895696.76    | 1.78%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FN MA5038            | FNMASECY | CUSIP: 31418ES43<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    864778 | NS      | $850138.66    | 1.69%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN MA5072            | FNMASECY | CUSIP: 31418ET67<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    418426 | NS      | $418679.76    | 0.83%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FN MA5138            | FNMASECY | CUSIP: 31418EV80<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    634934 | NS      | $635911.34    | 1.27%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FN MA5165            | FNMASECY | CUSIP: 31418EW30<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1189479 | NS      | $1189097.71   | 2.37%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FN MA5585            | FNMASECY | CUSIP: 31418FF36<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    483775 | NS      | $474364.51    | 0.94%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN MA5734            | FNMASECY | CUSIP: 31418FLQ8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    498229 | NS      | $488532.71    | 0.97%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Insti | MONEYMKT | CUSIP: 61747C582<br>LEI: 549300D1XR6GP7EZ0T47 | Long             | STIV             |  | US        |   3382420 | NS      | $3382419.52   | 6.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ALASKA ST MUNI BOND  | MUNIBOND | CUSIP: 01179RM67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | NS      | $275733.50    | 0.55%             | 2036-12-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| ALASKA ST MUNI BOND  | MUNIBOND | CUSIP: 01179RM75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | NS      | $266091.00    | 0.53%             | 2041-12-01      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| ARIZONA BRD OF RGTS  | MUNIBOND | CUSIP: 040484UU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | NS      | $274004.50    | 0.55%             | 2044-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BAY AREA CA TOLL AUT | MUNIBOND | CUSIP: 072024YB2<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |    350000 | NS      | $285813.50    | 0.57%             | 2036-04-01      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| BRISTOL TWP PA SCH D | MUNIBOND | CUSIP: 110290NJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | NS      | $191010.30    | 0.38%             | 2043-06-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CA ST UNIV-D         | MUNIBOND | CUSIP: 13077DMZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | NS      | $234933.00    | 0.47%             | 2038-11-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SE | MUNIBOND | CUSIP: 38122NZX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | NS      | $201812.50    | 0.40%             | 2038-06-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| MANATEE CNTY FL PORT | MUNIBOND | CUSIP: 561850MA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | NS      | $153710.00    | 0.31%             | 2041-10-01      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| MARTINEZ -REF -TXBL  | MUNIBOND | CUSIP: 573394EN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | NS      | $248133.60    | 0.49%             | 2040-08-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE -A-3-TXBL | MUNIBOND | CUSIP: 59335KDA2<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |    250000 | NS      | $191742.50    | 0.38%             | 2038-10-01      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDUCTN | MUNIBOND | CUSIP: 6460667F1<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    400000 | NS      | $352524.00    | 0.70%             | 2035-07-01      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| NEW YORK-E-2-TXBL    | MUNIBOND | CUSIP: 64966MWM7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    170000 | NS      | $169126.20    | 0.34%             | 2026-03-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| PA TXB-B-BAB         | MUNIBOND | CUSIP: 70914PMJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | NS      | $306471.00    | 0.61%             | 2030-02-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR  | MUNIBOND | CUSIP: 70917S3J0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | NS      | $212090.00    | 0.42%             | 2045-06-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST UNIV | MUNIBOND | CUSIP: 709235T70<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |    200000 | NS      | $145018.00    | 0.29%             | 2043-09-01      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| SAN MARCOS USD -TXBL | MUNIBOND | CUSIP: 798755GM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | NS      | $291207.00    | 0.58%             | 2040-08-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TAMPA-HILLSBOROUGH   | MUNIBOND | CUSIP: 875301HY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | NS      | $401914.35    | 0.80%             | 2037-07-01      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| TULARE CO BRD ED-TXB | MUNIBOND | CUSIP: 899141BL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | NS      | $182180.00    | 0.36%             | 2043-05-01      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| UNIV CA RGTS-M-TXBL  | MUNIBOND | CUSIP: 913366JA9<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |     70000 | NS      | $68797.40     | 0.14%             | 2026-05-15      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA-N | MUNIBOND | CUSIP: 91412G2Y0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | NS      | $24612.00     | 0.05%             | 2027-05-15      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| UNIV OF PITTSBURGH P | MUNIBOND | CUSIP: 914805EX0<br>LEI: 5493002C83QSGL8ETT42 | Long             | DBT              | MUN               | US        |    140000 | NS      | $138432.00    | 0.28%             | 2026-09-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH | MUNIBOND | CUSIP: 917567FQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | NS      | $442849.00    | 0.88%             | 2038-12-15      | Fixed         | 2.77%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810QZ4<br>LEI: N/A                  | Long             | DBT              | UST               | US        |    900000 | NS      | $723902.31    | 1.44%             | 2043-02-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810RK6<br>LEI: N/A                  | Long             | DBT              | UST               | US        |    750000 | NS      | $528544.95    | 1.05%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810SA7<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   1000000 | NS      | $743789.10    | 1.48%             | 2048-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | NS      | $917753.85    | 1.83%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810TH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | NS      | $413906.25    | 0.82%             | 2042-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810TM0<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   1000000 | NS      | $913007.80    | 1.82%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 91282CDY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | NS      | $219619.15    | 0.44%             | 2032-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-13

**Name of Applicant:** Spinnaker ETF Series

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

**Title:** Principal Accounting Officer/Principal Financial Officer