# EDGAR Filing Document

**Accession Number:** 0000918942
**File Stem:** 0000894189-26-014407
**Filing Date:** 2026-5
**Character Count:** 64232
**Document Hash:** 4ba159fc65b40c5affebad1d052197f6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-014407.hdr.sgml**: 20260505

**ACCESSION NUMBER**: 0000894189-26-014407

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260505

**DATE AS OF CHANGE**: 20260505

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LKCM Funds
- **CENTRAL INDEX KEY:** 0000918942

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08352
- **FILM NUMBER:** 26942022

**BUSINESS ADDRESS:**
- **STREET 1:** 301 COMMERCE
- **STREET 2:** SUITE 1600
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102
- **BUSINESS PHONE:** 817-332-3235

**MAIL ADDRESS:**
- **STREET 1:** 301 COMMERCE
- **STREET 2:** SUITE 1600
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** U.S. Bancorp Fund Services, LLC
- **DATE OF NAME CHANGE:** 20040819

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LKCM FUND
- **DATE OF NAME CHANGE:** 19940211

## Series and Classes Contracts Data

### LKCM Balanced Fund (Series ID: S000004605)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000012573 | LKCM Balanced Fund | LKBAX           |

## Nport-Ex

**LKCM Balanced Fund** 

**Schedule of Investments** 

**March 31, 2026 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 68.2%** | **Shares** | **Value** |
|  **Aerospace & Defense - 2.0%** |  |  |
|  L3Harris Technologies, Inc. | 5850 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019128 |
|  **Banks - 3.8%** |  |  |
|  Bank of America Corp. | 29100 | 1418625 |
|  Cullen/Frost Bankers, Inc. | 8300 | 1137764 |
|  JPMorgan Chase & Co. | 4500 | 1323720 |
|  |  | 3880109 |
|  **Beverages - 3.2%** |  |  |
|  Coca-Cola Co. | 21400 | 1627470 |
|  Keurig Dr Pepper, Inc. | 31000 | 816230 |
|  PepsiCo, Inc. | 5750 | 892917 |
|  |  | 3336617 |
|  **Broadline Retail - 2.1%** |  |  |
|  Amazon.com, Inc. <sup>(a)</sup> | 10300 | 2145181 |
|  **Capital Markets - 1.1%** |  |  |
|  Moody's Corp. | 2650 | 1156063 |
|  **Chemicals - 3.3%** |  |  |
|  Corteva, Inc. | 7658 | 641051 |
|  Ecolab Inc. | 3600 | 957672 |
|  Linde PLC | 3600 | 1784736 |
|  |  | 3383459 |
|  **Commercial Services & Supplies - 3.6%** |  |  |
|  Cintas Corp. | 8000 | 1353120 |
|  Waste Connections, Inc. | 7100 | 1153324 |
|  Waste Management, Inc. | 5250 | 1206397 |
|  |  | 3712841 |
|  **Construction Materials - 1.6%** |  |  |
|  Martin Marietta Materials, Inc. | 2800 | 1648304 |
|  **Consumer Staples Distribution & Retail - 1.8%** |  |  |
|  Walmart, Inc. | 14600 | 1814488 |
|  **Diversified Telecommunication Services - 0.8%** |  |  |
|  Verizon Communications Inc. | 17341 | 870518 |
|  **Electric Utilities - 0.8%** |  |  |
|  Constellation Energy Corp. | 2900 | 809825 |
|  **Electrical Equipment - 2.8%** |  |  |
|  Eaton Corp. PLC | 1800 | 643806 |
|  Emerson Electric Co. | 8800 | 1152976 |
|  Rockwell Automation, Inc. | 3025 | 1085612 |
|  |  | 2882394 |
|  **Electronic Equipment, Instruments & Components - 1.4%** |  |  |
|  Teledyne Technologies, Inc. <sup>(a)</sup> | 2450 | 1482275 |
|  **Entertainment - 0.9%** |  |  |
|  Netflix, Inc. <sup>(a)</sup> | 10000 | 961500 |
|  **Financial Services - 1.1%** |  |  |
|  Visa, Inc. - Class A | 3850 | 1163624 |

---

------

---

| | | |
|:---|:---|:---|
|  **Health Care Equipment & Supplies - 2.1%** |  |  |
|  Abbott Laboratories | 7800 | 800826 |
|  Alcon AG | 17900 | 1348765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149591 |
|  **Health Care Providers & Services - 0.5%** |  |  |
|  BrightSpring Health Services, Inc. <sup>(a)</sup> | 12000 | 511320 |
|  **Household Products - 1.5%** |  |  |
|  Colgate-Palmolive Co. | 13400 | 1142082 |
|  Procter & Gamble Co. | 3150 | 454986 |
|  |  | 1597068 |
|  **Industrial Conglomerates - 0.3%** |  |  |
|  Honeywell International Inc. | 1600 | 361648 |
|  **Insurance - 0.6%** |  |  |
|  Arthur J Gallagher & Co. | 3100 | 671398 |
|  **Interactive Media & Services - 4.5%** |  |  |
|  Alphabet, Inc. - Class C | 9700 | 2782542 |
|  Meta Platforms, Inc. - Class A | 3275 | 1873726 |
|  |  | 4656268 |
|  **Life Sciences Tools & Services - 1.9%** |  |  |
|  Danaher Corp. | 5800 | 1099680 |
|  Thermo Fisher Scientific, Inc. | 1700 | 835601 |
|  |  | 1935281 |
|  **Metals & Mining - 1.9%** |  |  |
|  Newmont Goldcorp Corp. | 17700 | 1916025 |
|  **Oil, Gas & Consumable Fuels - 7.2%** |  |  |
|  Chevron Corp. | 7795 | 1612785 |
|  ConocoPhillips Co. | 10900 | 1438800 |
|  Coterra Energy, Inc. | 18000 | 632520 |
|  EOG Resources, Inc. | 4000 | 578280 |
|  Exxon Mobil Corp. | 10127 | 1718147 |
|  Kinder Morgan, Inc. | 42000 | 1408260 |
|  |  | 7388792 |
|  **Pharmaceuticals - 2.4%** |  |  |
|  Merck & Co., Inc. | 12500 | 1503625 |
|  Zoetis Inc. | 8026 | 948753 |
|  |  | 2452378 |
|  **Semiconductors & Semiconductor Equipment - 3.9%** |  |  |
|  NVIDIA Corp. | 20000 | 3488000 |
|  QUALCOMM, Inc. | 4400 | 566632 |
|  |  | 4054632 |
|  **Software - 6.0%** |  |  |
|  Microsoft Corp. | 6500 | 2406105 |
|  Oracle Corp. | 9100 | 1338701 |
|  Palo Alto Networks, Inc. <sup>(a)</sup> | 3700 | 593184 |
|  Salesforce, Inc. | 4550 | 849348 |
|  Trimble Inc. <sup>(a)</sup> | 15150 | 988235 |
|  |  | 6175573 |
|  **Specialty Retail - 1.4%** |  |  |
|  Home Depot, Inc. | 4500 | 1480005 |
|  **Technology Hardware, Storage & Peripherals - 3.7%** |  |  |
|  Apple Inc. | 15150 | 3844919 |
|  **TOTAL COMMON STOCKS** (Cost $31,484,163) |  | 70461224 |

---

------

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 30.8%** | **Par** | **Value** |
|  **Aerospace & Defense - 2.3%** |  |  |
|  L3Harris Technologies, Inc., 5.40%, 07/31/2033 (Callable 04/30/2033) | 750000 | 770252 |
|  Lockheed Martin Corp., 4.50%, 02/15/2029 (Callable 01/15/2029) | 785000 | 791708 |
|  RTX Corp., 5.15%, 02/27/2033 (Callable 11/27/2032) | 800000 | 816525 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2378485 |
|  **Banks - 0.7%** |  |  |
|  Cullen/Frost Bankers, Inc., 4.50%, 03/17/2027 (Callable 02/17/2027) | 750000 | 755625 |
|  **Beverages - 0.7%** |  |  |
|  Keurig Dr Pepper, Inc., 2.55%, 09/15/2026 (Callable 06/15/2026) | 750000 | 743315 |
|  **Biotechnology - 1.9%** |  |  |
|  AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/14/2026 (Callable 05/01/2026) | 600000 | 599409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/2031 (Callable 01/15/2031) | 250000 | 255438 |
|  Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 08/19/2026 (Callable 05/19/2026) | 450000 | 447409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/02/2030 (Callable 01/02/2030) | 650000 | 667623 |
|  |  | 1969879 |
|  **Broadline Retail - 0.7%** |  |  |
|  Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 12/01/2027 (Callable 11/01/2027) | 550000 | 555116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 12/01/2029 (Callable 10/01/2029) | 125000 | 126904 |
|  |  | 682020 |
|  **Chemicals - 1.9%** |  |  |
|  Air Products and Chemicals, Inc., 1.85%, 05/15/2027 (Callable 03/15/2027) | 675000 | 659107 |
|  DuPont de Nemours, Inc., 4.73%, 11/15/2028 (Callable 08/15/2028) <sup>(b)</sup> | 280000 | 281166 |
|  Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 11/01/2026 (Callable 08/01/2026) | 500000 | 496163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/2028 (Callable 12/15/2027) | 475000 | 483951 |
|  |  | 1920387 |
|  **Commercial Services & Supplies - 1.9%** |  |  |
|  Republic Services, Inc., 4.88%, 04/01/2029 (Callable 03/01/2029) | 750000 | 761522 |
|  Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/2028 (Callable 02/15/2028) | 200000 | 201339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/2030 (Callable 12/15/2029) | 500000 | 504867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/15/2032 (Callable 01/15/2032) | 500000 | 490687 |
|  |  | 1958415 |
|  **Communications Equipment - 0.7%** |  |  |
|  Cisco Systems, Inc., 5.05%, 02/26/2034 (Callable 11/26/2033) | 750000 | 761569 |
|  **Consumer Finance - 0.8%** |  |  |
|  American Express Co., 4.05%, 05/03/2029 (Callable 03/03/2029) | 850000 | 847334 |
|  **Crude Petroleum Extraction - 0.5%** |  |  |
|  Enterprise Products Operating LLC, 5.35%, 01/31/2033 (Callable 10/31/2032) | 500000 | 516136 |
|  **Electric Utilities - 1.0%** |  |  |
|  Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/08/2027 (Callable 11/08/2027) | 495000 | 500432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/2032 (Callable 05/15/2032) | 500000 | 492423 |
|  |  | 992855 |
|  **Financial Services - 1.0%** |  |  |
|  Mastercard, Inc., 4.85%, 03/09/2033 (Callable 12/09/2032) | 500000 | 506987 |
|  Visa Inc., 1.90%, 04/15/2027 (Callable 02/15/2027) | 500000 | 489662 |
|  |  | 996649 |
|  **Health Care Equipment & Supplies - 1.1%** |  |  |
|  Abbott Laboratories, 3.75%, 11/30/2026 (Callable 08/30/2026) | 355000 | 354504 |

---

------

---

| | | |
|:---|:---|:---|
|  Stryker Corp., 5.20%, 02/10/2035 (Callable 11/10/2034) | 750000 | 760066 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114570 |
|  **Household Products - 0.6%** |  |  |
|  Colgate-Palmolive Co., 3.10%, 08/15/2027 (Callable 07/15/2027) | 595000 | 588691 |
|  **Insurance - 0.9%** |  |  |
|  Arthur J Gallagher & Co., 5.00%, 02/15/2032 (Callable 12/15/2031) | 975000 | 978774 |
|  **Interactive Media & Services - 1.3%** |  |  |
|  Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/15/2027 (Callable 07/15/2027) | 250000 | 248273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/2028 (Callable 04/15/2028) | 250000 | 252711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/15/2031 (Callable 06/15/2031) | 550000 | 552226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/15/2034 (Callable 05/15/2034) | 250000 | 247248 |
|  |  | 1300458 |
|  **IT Services - 0.1%** |  |  |
|  International Business Machines Corp., 4.75%, 02/06/2033 (Callable 11/06/2032) | 125000 | 124478 |
|  **Life Sciences Tools & Services - 0.7%** |  |  |
|  Thermo Fisher Scientific, Inc., 4.95%, 11/21/2032 (Callable 08/21/2032) | 750000 | 763714 |
|  **Oil, Gas & Consumable Fuels - 3.4%** |  |  |
|  Chevron Corp., 2.00%, 05/11/2027 (Callable 03/11/2027) | 400000 | 391370 |
|  ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 04/15/2029 | 500000 | 536722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/15/2033 (Callable 06/15/2033) | 250000 | 254437 |
|  Devon Energy Corp., 4.50%, 01/15/2030 (Callable 04/11/2026) | 500000 | 498478 |
|  EOG Resources, Inc., 4.38%, 04/15/2030 (Callable 01/15/2030) | 750000 | 748299 |
|  Kinder Morgan, Inc., 5.20%, 06/01/2033 (Callable 03/01/2033) | 325000 | 330646 |
|  ONEOK, Inc., 5.80%, 11/01/2030 (Callable 09/01/2030) | 750000 | 779728 |
|  |  | 3539680 |
|  **Other Electric Power Generation - 0.3%** |  |  |
|  Duke Energy Progress LLC, 5.25%, 03/15/2033 (Callable 12/15/2032) | 300000 | 308948 |
|  **Personal Care Products - 0.1%** |  |  |
|  Kenvue, Inc., 5.00%, 03/22/2030 (Callable 01/22/2030) | 120000 | 122209 |
|  **Pharmaceuticals - 1.5%** |  |  |
|  Bristol-Myers Squibb Co., 5.10%, 02/22/2031 (Callable 12/22/2030) | 800000 | 822640 |
|  Eli Lilly & Co., 4.50%, 02/09/2029 (Callable 01/09/2029) | 575000 | 580750 |
|  Zoetis, Inc., 4.15%, 08/17/2028 (Callable 07/17/2028) | 100000 | 99696 |
|  |  | 1503086 |
|  **Semiconductors & Semiconductor Equipment - 0.6%** |  |  |
|  Broadcom, Inc., 5.05%, 07/12/2029 (Callable 06/12/2029) | 250000 | 255192 |
|  NVIDIA Corp., 3.20%, 09/16/2026 (Callable 06/16/2026) | 400000 | 398859 |
|  |  | 654051 |
|  **Software - 3.3%** |  |  |
|  Adobe, Inc., 4.80%, 04/04/2029 (Callable 03/04/2029) | 850000 | 863961 |
|  Intuit, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/15/2028 (Callable 08/15/2028) | 550000 | 560680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/2033 (Callable 06/15/2033) | 275000 | 279937 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/06/2030 (Callable 03/06/2030) | 220000 | 215029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/06/2033 (Callable 11/06/2032) | 750000 | 711529 |
|  Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/2032 (Callable 12/15/2031) | 300000 | 296262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/15/2034 (Callable 07/15/2034) | 500000 | 483277 |
|  |  | 3410675 |
|  **Specialized REITs - 0.7%** |  |  |
|  American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/15/2026 (Callable 07/15/2026) | 635000 | 631380 |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 11/15/2028 (Callable 10/15/2028) | 75000 | 77351 |
|  |  | 708731 |
|  **Specialty Retail - 1.9%** |  |  |
|  Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 09/14/2027 (Callable 06/14/2027) | 500000 | 491549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/2029 (Callable 03/15/2029) | 220000 | 224204 |
|  O'Reilly Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/01/2030 (Callable 01/01/2030) | 500000 | 494609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/15/2032 (Callable 03/15/2032) | 250000 | 248535 |
|  Tractor Supply Co., 5.25%, 05/15/2033 (Callable 02/15/2033) | 500000 | 508198 |
|  |  | 1967095 |
|  **Support Activities for Oil and Gas Operations - 0.1%** |  |  |
|  ConocoPhillips Co., 4.70%, 01/15/2030 (Callable 12/15/2029) | 100000 | 100867 |
|  **Wireless Telecommunications Carriers (except Satellite) - 0.1%** |  |  |
|  T-Mobile USA, Inc., 3.75%, 04/15/2027 (Callable 02/15/2027) | 100000 | 99392 |
|  **TOTAL CORPORATE BONDS** (Cost $31,743,054) |  | 31808088 |
| **REAL ESTATE INVESTMENT TRUSTS - 0.7%** | **Shares** | **Value** |
|  **Specialized REITs - 0.7%** |  |  |
|  American Tower Corp. | 4500 | 776610 |
|  **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $847,757) |  | 776610 |
|  **SHORT-TERM INVESTMENTS** |  |  |
| **MONEY MARKET FUNDS - 0.1%** | **Shares** | **Value** |
|  Invesco Government & Agency Portfolio - Institutional Class, 3.58% <sup>(c)</sup> | 81371 | 81371 |
|  **TOTAL MONEY MARKET FUNDS** (Cost $81,371) |  | 81371 |
|  **TOTAL INVESTMENTS - 99.8% (**Cost $64,156,345**)** |  | 103127293 |
|  Other Assets in Excess of Liabilities - 0.2% |  | 176260 |
|  TOTAL NET ASSETS - 100.0% |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103303553 |

---

Par amount is in USD unless otherwise indicated.

Percentages are stated as a percent of net assets.

LLC - Limited Liability Company

PLC - Public Limited Company

REIT - Real Estate Investment Trust

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

(a) Non-income producing security.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended.
These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of March 31, 2026, the value of these securities total $281,166 or 0.3% of the Fund's net assets.

(c) The rate shown represents the 7-day annualized yield as of
March 31, 2026.

------

**Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)** 

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

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

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

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

The following is a summary of the fair valuation hierarchy of the Fund's securities as of March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
|  <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | $70461224 | $– | $– | $70461224 |
| &nbsp;&nbsp;&nbsp; Corporate Bonds |  | 31808088 |  | 31808088 |
| &nbsp;&nbsp;&nbsp; Real Estate Investment Trusts | 776610 |  |  | 776610 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | 81371 |  |  | 81371 |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71319205 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31808088 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;– | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103127293 |

---

Refer to the Schedule of Investments for further disaggregation of investment categories.

**Sector Classification as of March 31, 2026** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(% of Net Assets)

---

| | | |
|:---|:---|:---|
|  Information Technology | $20508172 | 19.7% |
|  Industrials | 13312911 | 12.9 |
|  Health Care | 12399819 | 12.1 |
|  Energy | 10928472 | 10.6 |
|  Financials | 10449576 | 10.0 |
|  Materials | 8868175 | 8.7 |
|  Consumer Staples | 8202388 | 7.9 |
|  Communication Services | 7888136 | 7.6 |
|  Consumer Discretionary | 6274301 | 6.1 |
|  Utilities | 1802680 | 1.8 |
|  Real Estate | 1485341 | 1.4 |
|  Money Market Funds | 81371 | 0.1 |
|  Other Assets in Excess of Liabilities | 1102211 | 1.1 |
|  | $**103303553** | **100.0%** |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** LKCM Funds

- **b. Investment Company Act file number:** 811-08352

- **c. CIK number of Registrant:** 0000918942

- **d. LEI of Registrant:** 549300P4U5XLVM1D1Z46

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

  - **Street Address 1:** 301 Commerce Street

  - **City:** Fort Worth

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 76102

  - **Telephone number:** 800-423-6369

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

- **a. Name of Series:** LKCM Balanced Fund

- **b. EDGAR series identifier (if any):** S000004605

- **c. LEI of Series:** 549300NU32P0I8JB8I98

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $103531594.60

**Total Liabilities:** $229000.36

**Net Assets:** $103302594.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012573 | 1.20%                | 1.26%                | -4.10%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1175738.54              | $53858.43                                  |
| Month 2  | $124957.02               | $1091593.04                                |
| Month 3  | $3223.45                 | $-4592299.05                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABBOTT LABORATORIES            | Abbott Laboratories                   | CUSIP: 002824BF6<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    355000 | PA      | $354504.58    | 0.34%             | 2026-11-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                          | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      9700 | NS      | $2782542.00   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS CO            | American Express Co                   | CUSIP: 025816CW7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    850000 | PA      | $847333.54    | 0.82%             | 2029-05-03      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC           | Keurig Dr Pepper Inc                  | CUSIP: 26138EAU3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    750000 | PA      | $743315.48    | 0.72%             | 2026-09-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                     | Intuit Inc                            | CUSIP: 46124HAG1<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |    275000 | PA      | $279936.98    | 0.27%             | 2033-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC              | Kinder Morgan Inc                     | CUSIP: 49456BAX9<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    325000 | PA      | $330646.02    | 0.32%             | 2033-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Martin Marietta Materials Inc  | Martin Marietta Materials Inc         | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      2800 | NS      | $1648304.00   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTHUR J GALLAGHER & CO        | Arthur J Gallagher & Co               | CUSIP: 04316JAM1<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |    975000 | PA      | $978773.78    | 0.95%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                    | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      3275 | NS      | $1873725.75   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                    | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      4500 | NS      | $1480005.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM CORP                       | International Business Machines Corp  | CUSIP: 459200KY6<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124477.93    | 0.12%             | 2033-02-06      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                   | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      4500 | NS      | $1323720.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                 | Mastercard Inc                        | CUSIP: 57636QAX2<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506987.02    | 0.49%             | 2033-03-09      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Teledyne Technologies Inc      | Teledyne Technologies Inc             | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |      2450 | NS      | $1482274.50   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      3850 | NS      | $1163624.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc           | Waste Management Inc                  | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      5250 | NS      | $1206397.50   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                    | Oracle Corp                           | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      9100 | NS      | $1338701.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks Inc                | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      3700 | NS      | $593184.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| TRACTOR SUPPLY CO              | Tractor Supply Co                     | CUSIP: 892356AB2<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |    500000 | PA      | $508197.51    | 0.49%             | 2033-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                    | Walmart Inc                           | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     14600 | NS      | $1814488.00   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                      | Amgen Inc                             | CUSIP: 031162DQ0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    650000 | PA      | $667622.46    | 0.65%             | 2030-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      6500 | NS      | $2406105.00   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                           | CUSIP: 68389XCN3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    220000 | PA      | $215029.03    | 0.21%             | 2030-05-06      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| PepsiCo Inc                    | PepsiCo Inc                           | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      5750 | NS      | $892917.50    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc        | Rockwell Automation Inc               | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      3025 | NS      | $1085612.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                     | Zoetis Inc                            | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      8026 | NS      | $948753.46    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC                      | Adobe Inc                             | CUSIP: 00724PAF6<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |    850000 | PA      | $863961.21    | 0.84%             | 2029-04-04      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Apple Inc                      | Apple Inc                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     15150 | NS      | $3844918.50   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightSpring Health Services I | BrightSpring Health Services Inc      | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12000 | NS      | $511320.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP                   | Chevron Corp                          | CUSIP: 166764BX7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $391370.36    | 0.38%             | 2027-05-11      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DUPONT DE NEMOURS INC          | DuPont de Nemours Inc                 | CUSIP: 26614NAC6<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |    280000 | PA      | $281166.19    | 0.27%             | 2028-11-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                 | Home Depot Inc/The                    | CUSIP: 437076BT8<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    500000 | PA      | $491549.36    | 0.48%             | 2027-09-14      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                 | Merck & Co Inc                        | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     12500 | NS      | $1503625.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                    | Netflix Inc                           | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     10000 | NS      | $961500.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX CORP                       | RTX Corp                              | CUSIP: 75513ECR0<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    800000 | PA      | $816524.74    | 0.79%             | 2033-02-27      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                        | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      4550 | NS      | $849348.50    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc          | Waste Connections Inc                 | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      7100 | NS      | $1153324.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE MANAGEMENT INC           | Waste Management Inc                  | CUSIP: 94106LBS7<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $490686.82    | 0.47%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                        | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |      1800 | NS      | $643806.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO        | Bristol-Myers Squibb Co               | CUSIP: 110122EG9<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    800000 | PA      | $822639.83    | 0.80%             | 2031-02-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY         | ConocoPhillips Co                     | CUSIP: 20826FBF2<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254437.12    | 0.25%             | 2033-09-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY         | ConocoPhillips Co                     | CUSIP: 20826FBJ4<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100867.34    | 0.10%             | 2030-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Corteva Inc                    | Corteva Inc                           | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      7658 | NS      | $641051.18    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOETIS INC                     | Zoetis Inc                            | CUSIP: 98978VAW3<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99696.40     | 0.10%             | 2028-08-17      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| AIR PRODUCTS & CHEMICALS       | Air Products and Chemicals Inc        | CUSIP: 009158AY2<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | DBT              | CORP              | US        |    675000 | PA      | $659107.37    | 0.64%             | 2027-05-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     10300 | NS      | $2145181.00   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                       | Alcon AG                              | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |     17900 | NS      | $1348765.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOLAB INC                     | Ecolab Inc                            | CUSIP: 278865AV2<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496163.17    | 0.48%             | 2026-11-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                 | Home Depot Inc/The                    | CUSIP: 437076CW0<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    220000 | PA      | $224203.89    | 0.22%             | 2029-04-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| L3Harris Technologies Inc      | L3Harris Technologies Inc             | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      5850 | NS      | $2019127.50   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECH INC              | L3Harris Technologies Inc             | CUSIP: 502431AQ2<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    750000 | PA      | $770252.28    | 0.75%             | 2033-07-31      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP           | Lockheed Martin Corp                  | CUSIP: 539830CC1<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    785000 | PA      | $791708.30    | 0.77%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                   | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      7800 | NS      | $800826.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                     | AbbVie Inc                            | CUSIP: 00287YAY5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    600000 | PA      | $599409.21    | 0.58%             | 2026-05-14      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| American Tower Corp            | American Tower Corp                   | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      4500 | NS      | $776610.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORP            | American Tower Corp                   | CUSIP: 03027XAK6<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    635000 | PA      | $631380.08    | 0.61%             | 2026-10-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                      | Amgen Inc                             | CUSIP: 031162CJ7<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    450000 | PA      | $447409.06    | 0.43%             | 2026-08-19      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp                  | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     29100 | NS      | $1418625.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7795 | NS      | $1612785.50   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS INC              | Cisco Systems Inc                     | CUSIP: 17275RBT8<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    750000 | PA      | $761568.93    | 0.74%             | 2034-02-26      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| COLGATE-PALMOLIVE CO           | Colgate-Palmolive Co                  | CUSIP: 194162AN3<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | DBT              | CORP              | US        |    595000 | PA      | $588690.59    | 0.57%             | 2027-08-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY         | ConocoPhillips Co                     | CUSIP: 208251AE8<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    500000 | PA      | $536721.47    | 0.52%             | 2029-04-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                        | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     10900 | NS      | $1438800.00   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources Inc                     | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      4000 | NS      | $578280.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES INC              | EOG Resources Inc                     | CUSIP: 26875PAU5<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    750000 | PA      | $748298.59    | 0.72%             | 2030-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     10127 | NS      | $1718146.82   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms Inc                    | CUSIP: 30303M8G0<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248273.10    | 0.24%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms Inc                    | CUSIP: 30303M8L9<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252711.50    | 0.24%             | 2028-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms Inc                    | CUSIP: 30303M8T2<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    550000 | PA      | $552225.89    | 0.53%             | 2031-08-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms Inc                    | CUSIP: 30303M8U9<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247247.54    | 0.24%             | 2034-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co        | Arthur J Gallagher & Co               | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      3100 | NS      | $671398.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc           | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      1600 | NS      | $361648.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| KENVUE INC                     | Kenvue Inc                            | CUSIP: 49177JAH5<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |    120000 | PA      | $122208.55    | 0.12%             | 2030-03-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc           | Keurig Dr Pepper Inc                  | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     31000 | NS      | $816230.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc              | Kinder Morgan Inc                     | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     42000 | NS      | $1408260.00   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The        | Procter & Gamble Co/The               | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      3150 | NS      | $454986.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ROPER TECHNOLOGIES INC         | Roper Technologies Inc                | CUSIP: 776696AH9<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    300000 | PA      | $296262.02    | 0.29%             | 2032-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC               | T-Mobile USA Inc                      | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99392.36     | 0.10%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Trimble Inc                    | Trimble Inc                           | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |     15150 | NS      | $988234.50    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE MANAGEMENT INC           | Waste Management Inc                  | CUSIP: 94106LBT5<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504866.66    | 0.49%             | 2030-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC           | Waste Management Inc                  | CUSIP: 94106LCB3<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201339.16    | 0.19%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co/The               | Coca-Cola Co/The                      | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     21400 | NS      | $1627470.00   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co           | Colgate-Palmolive Co                  | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     13400 | NS      | $1142082.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC SERVICES INC          | Republic Services Inc                 | CUSIP: 760759BB5<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    750000 | PA      | $761522.58    | 0.74%             | 2029-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC         | Roper Technologies Inc                | CUSIP: 776696AJ5<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    500000 | PA      | $483276.82    | 0.47%             | 2034-10-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                   | Stryker Corp                          | CUSIP: 863667BM2<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    750000 | PA      | $760065.68    | 0.74%             | 2035-02-10      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific Inc          | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1700 | NS      | $835601.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                     | AbbVie Inc                            | CUSIP: 00287YDT3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255437.83    | 0.25%             | 2031-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                 | Amazon.com Inc                        | CUSIP: 023135CQ7<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126904.49    | 0.12%             | 2029-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP            | American Tower Corp                   | CUSIP: 03027XCE8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77351.11     | 0.07%             | 2028-11-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                   | Broadcom Inc                          | CUSIP: 11135FBX8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255192.23    | 0.25%             | 2029-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC       | Duke Energy Progress LLC              | CUSIP: 26442UAQ7<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    300000 | PA      | $308948.04    | 0.30%             | 2033-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ECOLAB INC                     | Ecolab Inc                            | CUSIP: 278865BP4<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    475000 | PA      | $483950.68    | 0.47%             | 2028-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Emerson Electric Co            | Emerson Electric Co                   | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |      8800 | NS      | $1152976.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                    | NVIDIA Corp                           | CUSIP: 67066GAE4<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | DBT              | CORP              | US        |    400000 | PA      | $398858.89    | 0.39%             | 2026-09-16      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                          | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      4400 | NS      | $566632.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC       | Thermo Fisher Scientific Inc          | CUSIP: 883556CU4<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    750000 | PA      | $763713.71    | 0.74%             | 2032-11-21      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Linde PLC                      | Linde PLC                             | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |      3600 | NS      | $1784736.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                 | Amazon.com Inc                        | CUSIP: 023135CP9<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    550000 | PA      | $555115.62    | 0.54%             | 2027-12-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Coterra Energy Inc             | Coterra Energy Inc                    | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     18000 | NS      | $632520.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp      | Constellation Energy Corp             | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      2900 | NS      | $809825.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers Inc       | Cullen/Frost Bankers Inc              | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      8300 | NS      | $1137764.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVON ENERGY CORPORATION       | Devon Energy Corp                     | CUSIP: 25179MBF9<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498478.18    | 0.48%             | 2030-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP               | Duke Energy Corp                      | CUSIP: 26441CBT1<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492423.50    | 0.48%             | 2032-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP               | Duke Energy Corp                      | CUSIP: 26441CBW4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    495000 | PA      | $500431.89    | 0.48%             | 2027-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ecolab Inc                     | Ecolab Inc                            | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      3600 | NS      | $957672.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC                     | Intuit Inc                            | CUSIP: 46124HAF3<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |    550000 | PA      | $560680.00    | 0.54%             | 2028-09-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Moody's Corp                   | Moody's Corp                          | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |      2650 | NS      | $1156062.50   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     20000 | NS      | $3488000.00   | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC        | O'Reilly Automotive Inc               | CUSIP: 67103HAL1<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248535.42    | 0.24%             | 2032-06-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Invesco Government & Agency Po | Invesco Government & Agency Portfolio | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |     81371 | NS      | $81370.98     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                    | Cintas Corp                           | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8000 | NS      | $1353120.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CULLEN/FROST BANKERS INC       | Cullen/Frost Bankers Inc              | CUSIP: 229899AB5<br>LEI: 529900V2E9G9AY665O34 | Long             | DBT              | CORP              | US        |    750000 | PA      | $755625.00    | 0.73%             | 2027-03-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Danaher Corp                   | Danaher Corp                          | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      5800 | NS      | $1099680.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER       | Enterprise Products Operating LLC     | CUSIP: 29379VCD3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $516136.01    | 0.50%             | 2033-01-31      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                 | Eli Lilly & Co                        | CUSIP: 532457CK2<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    575000 | PA      | $580749.56    | 0.56%             | 2029-02-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Newmont Corp                   | Newmont Corp                          | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     17700 | NS      | $1916025.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC        | O'Reilly Automotive Inc               | CUSIP: 67103HAJ6<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494608.50    | 0.48%             | 2030-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                             | CUSIP: 682680BK8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    750000 | PA      | $779728.28    | 0.75%             | 2030-11-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                           | CUSIP: 68389XCP8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    750000 | PA      | $711529.28    | 0.69%             | 2033-02-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc     | Verizon Communications Inc            | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     17341 | NS      | $870518.20    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                       | Visa Inc                              | CUSIP: 92826CAL6<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    500000 | PA      | $489661.53    | 0.47%             | 2027-04-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** LKCM Funds

**Signature:** /s/ Jacob D. Smith

**Name of Signer:** LKCM Funds

**Title:** Chief Financial Officer