# EDGAR Filing Document

**Accession Number:** 0000920547
**File Stem:** 0001145549-23-010994
**Filing Date:** 2023-2
**Character Count:** 109731
**Document Hash:** 76828b443044e72f1f3f8fc18da00ca3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-010994.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001145549-23-010994

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOUCHSTONE VARIABLE SERIES TRUST
- **CENTRAL INDEX KEY:** 0000920547
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08416
- **FILM NUMBER:** 23673441

**BUSINESS ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202-4203
- **BUSINESS PHONE:** 513-362-8000

**MAIL ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202-4203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SELECT ADVISORS VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 19950912

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IFS VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 19940318

## Series and Classes Contracts Data

### Touchstone Balanced Fund (Series ID: S000059066)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000193689 | Touchstone Balanced Fund - Class I |  |
| C000226678 | Class SC                           |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Touchstone Variable Series Trust

- **b. Investment Company Act file number:** 811-08416

- **c. CIK number of Registrant:** 0000920547

- **d. LEI of Registrant:** 549300PPYZ5OV9N1T150

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

  - **Street Address 1:** 303 Broadway

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45202

  - **Telephone number:** 8006388194

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

- **a. Name of Series:** Touchstone Variable Series Trust-Touchstone Balanced Fund

- **b. EDGAR series identifier (if any):** S000059066

- **c. LEI of Series:** 549300R24124F2BXT953

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $55118691.48

**Total Liabilities:** $98930.45

**Net Assets:** $55019761.03

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2.293866521921 | **1-Year:** 324.394663855325 | **5-Year:** 2803.486681326583 | **10-Year:** 3183.137831787500 | **30-Year:** 1859.275528097196

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 4.454103242038 | **10-Year:** 20.804258621138 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000193689 | 4.92%                | 5.39%                | -3.70%               |
| Class ID C000226678 | 4.92%                | 5.39%                | -3.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-254711.39              | $2797815.91                                |
| Month 2  | $48193.32                | $2802536.02                                |
| Month 3  | $3150.04                 | $-2189925.23                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T Inc                                                                             | AT&T Inc COM USD1                                                                                                                      | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      9870 | NS      | $181706.70    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AmerisourceBergen Corporation                                                        | AmerisourceBergen Corporation COM USD0.01                                                                                              | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      5185 | NS      | $859206.35    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                                                           | Apple Inc. COM USD0.00001                                                                                                              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     17617 | NS      | $2288976.81   | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                                                          | Bank of America Corporation COM USD0.01                                                                                                | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     28524 | NS      | $944714.88    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| The Boeing Company                                                                   | The Boeing Company COM USD5.00                                                                                                         | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      2970 | NS      | $565755.30    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Company                                                         | Bristol-Myers Squibb Company COM USD0.10                                                                                               | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      9899 | NS      | $712233.05    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.                                                              | Berkshire Hathaway Inc. COM USD0.0033 CLASS'B'                                                                                         | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      5607 | NS      | $1732002.30   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Biomarin Pharmaceutical Inc.                                                         | Biomarin Pharmaceutical Inc. COM USD0.001                                                                                              | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      8055 | NS      | $833611.95    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| John Deere Capital Corporation                                                       | DE 2.45 01/09/30 MTN                                                                                                                   | CUSIP: 24422EVD8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |     99000 | PA      | $85532.92     | 0.16%             | 2030-01-09      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Operating Partnership Lp                                            | INVH 4.15 04/15/32                                                                                                                     | CUSIP: 46188BAD4<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |     94000 | PA      | $82518.34     | 0.15%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Jpmcc Commercial Mortgage Securities                                                 | JPMCC 2016-JP2 A4                                                                                                                      | CUSIP: 46590MAR1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    235000 | PA      | $214663.64    | 0.39%             | 2049-08-17      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| Jbs Usa Lux SA/Jbs Usa Food Company/Jbs Usa Finance Inc                              | JBSSBZ 4.375 02/02/52 144A                                                                                                             | CUSIP: 46590XAE6<br>LEI: P77IMDGVZE8EFBTF2M92 | Long             | DBT              | CORP              | LU        |     33000 | PA      | $23259.80     | 0.04%             | 2052-02-02      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Jpmcc Commercial Mortgage Securities                                                 | JPMCC 2017-JP7 A5                                                                                                                      | CUSIP: 465968AE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $156844.31    | 0.29%             | 2050-09-16      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V3.509 01/23/29                                                                                                                    | CUSIP: 46647PAM8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90906.11     | 0.17%             | 2029-01-23      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.956 05/13/31                                                                                                                    | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    128000 | PA      | $105773.11    | 0.19%             | 2031-05-13      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.45 05/14/46                                                                                                                     | CUSIP: 00287YAW9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |     84000 | PA      | $72649.78     | 0.13%             | 2046-05-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V5.717 09/14/33                                                                                                                    | CUSIP: 46647PDK9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     66000 | PA      | $64900.47     | 0.12%             | 2033-09-14      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                                                    | JNJ 2.9 01/15/28                                                                                                                       | CUSIP: 478160CK8<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |     45000 | PA      | $42002.43     | 0.08%             | 2028-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Walt Disney Company                                                                  | Walt Disney Company COM DISNEY USD0.01                                                                                                 | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      3151 | NS      | $273758.88    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| 7-Eleven Inc.                                                                        | SVELEV 1.8 02/10/31 144A                                                                                                               | CUSIP: 817826AE0<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |    101000 | PA      | $77205.59     | 0.14%             | 2031-02-10      | Fixed         | 1.80%                 | Yes           |                  2 | On Loan: No      |
| The Kroger Co.                                                                       | KR 5 04/15/42                                                                                                                          | CUSIP: 501044CR0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     64000 | PA      | $58389.90     | 0.11%             | 2042-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                                                             | Visa Inc COM STK USD0.0001                                                                                                             | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      4468 | NS      | $928271.68    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                                                          | Workday Inc COM USD0.001 CL A                                                                                                          | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      2796 | NS      | $467854.68    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| BBCMS MORTGAGE TRUST                                                                 | BBCMS 2021-C11 A5                                                                                                                      | CUSIP: 05493MAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55000 | PA      | $44461.29     | 0.08%             | 2054-09-17      | Fixed         | 2.32%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                   | Meta Platforms Inc COM USD0.000006 CL 'A'                                                                                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      6230 | NS      | $749718.20    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Corporation                                                                   | Markel Corporation COM NPV                                                                                                             | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |       499 | NS      | $657427.51    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corporation                                                                | Microsoft Corporation COM USD0.00000625                                                                                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     12059 | NS      | $2891989.38   | 5.26%             |  |  |  | No            |                  1 | On Loan: No      |
| B.A.T. Capital Corporation                                                           | BATSLN 3.557 08/15/27                                                                                                                  | CUSIP: 05526DBB0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    135000 | PA      | $123327.70    | 0.22%             | 2027-08-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| BBCMS MORTGAGE TRUST                                                                 | BBCMS 2021-C12 A5                                                                                                                      | CUSIP: 05552XBG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    165000 | PA      | $137024.60    | 0.25%             | 2054-11-18      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| BBMCS MORTGAGE TRUST 2022-C16                                                        | BBCMS 2022-C16 A5                                                                                                                      | CUSIP: 05552YAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    140000 | PA      | $135126.08    | 0.25%             | 2055-06-17      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| Bank of America Corporation                                                          | BAC V3.705 04/24/28                                                                                                                    | CUSIP: 06051GGL7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     82000 | PA      | $75992.43     | 0.14%             | 2028-04-24      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| Medtronic PLC                                                                        | Medtronic PLC USD0.0001                                                                                                                | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      7683 | NS      | $597122.76    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                                                          | BAC V2.687 04/22/32                                                                                                                    | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     81000 | PA      | $65042.83     | 0.12%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                                     | BMO V3.803 12/15/32                                                                                                                    | CUSIP: 06368BGS1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     94000 | PA      | $82904.06     | 0.15%             | 2032-12-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corporation                                              | BK V5.834 10/25/33                                                                                                                     | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     80000 | PA      | $83209.00     | 0.15%             | 2033-10-25      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| BANK 2022-BNK39                                                                      | BANK 2022-BNK39 A4                                                                                                                     | CUSIP: 06539VAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $63494.26     | 0.12%             | 2055-02-18      | Floating      | 2.93%                 | No            |                  2 | On Loan: No      |
| BANK 2021-BNK36                                                                      | BANK 2021-BN36 A5                                                                                                                      | CUSIP: 06540DBH7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145000 | PA      | $118575.45    | 0.22%             | 2064-09-17      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| BANK 2020-BNK26                                                                      | BANK 2020-BN26 A4                                                                                                                      | CUSIP: 06540JBG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $50255.30     | 0.09%             | 2063-03-16      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BANK 2021-BNK37                                                                      | BANK 2021-BN37 A5                                                                                                                      | CUSIP: 06540LBF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    280000 | PA      | $231262.22    | 0.42%             | 2064-11-18      | Floating      | 2.62%                 | No            |                  2 | On Loan: No      |
| BBCMS MORTGAGE TRUST 2022-C14                                                        | BBCMS 2022-C14 A5                                                                                                                      | CUSIP: 07336AAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     45000 | PA      | $38091.46     | 0.07%             | 2055-02-18      | Floating      | 2.95%                 | No            |                  2 | On Loan: No      |
| Becton, Dickinson and Company                                                        | BDX 4.685 12/15/44                                                                                                                     | CUSIP: 075887BG3<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |     67000 | PA      | $60121.07     | 0.11%             | 2044-12-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| BENCHMARK MORTGAGE TRUST                                                             | BMARK 2018-B8 A5                                                                                                                       | CUSIP: 08162UAW0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    160000 | PA      | $152890.54    | 0.28%             | 2052-01-18      | Fixed         | 4.23%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Finance Corporation                                               | BRK 4.25 01/15/49                                                                                                                      | CUSIP: 084664CR0<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |     70000 | PA      | $62832.62     | 0.11%             | 2049-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Boardwalk Pipelines LP                                                               | BWP 4.8 05/03/29                                                                                                                       | CUSIP: 096630AG3<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |     78000 | PA      | $73585.04     | 0.13%             | 2029-05-03      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| The Boeing Company                                                                   | BA 5.805 05/01/50                                                                                                                      | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     53000 | PA      | $49344.68     | 0.09%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                 | GM 5.65 01/17/29                                                                                                                       | CUSIP: 37045XCS3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     56000 | PA      | $55065.24     | 0.10%             | 2029-01-17      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                 | GM 3.1 01/12/32                                                                                                                        | CUSIP: 37045XDS2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    105000 | PA      | $82564.93     | 0.15%             | 2032-01-12      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V3.691 06/05/28                                                                                                                     | CUSIP: 38141GWL4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     55000 | PA      | $51095.82     | 0.09%             | 2028-06-05      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V2.615 04/22/32                                                                                                                     | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    122000 | PA      | $97362.29     | 0.18%             | 2032-04-22      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V3.615 03/15/28                                                                                                                     | CUSIP: 38141GZR8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    105000 | PA      | $97715.39     | 0.18%             | 2028-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| FedEx Corporation                                                                    | FDX 5.1 01/15/44                                                                                                                       | CUSIP: 31428XAW6<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |     94000 | PA      | $83821.80     | 0.15%             | 2044-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Firstenergy Transmission Llc                                                         | FE 5.45 07/15/44 144A                                                                                                                  | CUSIP: 33767BAA7<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |     82000 | PA      | $76729.22     | 0.14%             | 2044-07-15      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Company                                                                   | F 3.25 02/12/32                                                                                                                        | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |     60000 | PA      | $45003.02     | 0.08%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                              | MPLX 4.95 03/14/52                                                                                                                     | CUSIP: 55336VBT6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     67000 | PA      | $55109.24     | 0.10%             | 2052-03-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Mohawk Industries, Inc.                                                              | MHK 3.625 05/15/30                                                                                                                     | CUSIP: 608190AL8<br>LEI: 549300JI1115MG3Q6322 | Long             | DBT              | CORP              | US        |     88000 | PA      | $76031.45     | 0.14%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V5.297 04/20/37                                                                                                                     | CUSIP: 61747YES0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     66000 | PA      | $60543.60     | 0.11%             | 2037-04-20      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management Funds                                             | Dreyfus Government Cash Management Funds SH BEN INT                                                                                    | CUSIP: 262006208<br>LEI: 549300F7IDB6WRO7VJ11 | Long             | STIV             | RF                | US        |    830715 | NS      | $830715.35    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Progress Inc                                                             | DUK 4.15 12/01/44                                                                                                                      | CUSIP: 26442RAD3<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     74000 | PA      | $62012.11     | 0.11%             | 2044-12-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS 3.95 04/23/27                                                                                                                       | CUSIP: 61761JZN2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    109000 | PA      | $103112.31    | 0.19%             | 2027-04-23      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Cap I Tst 2018-H3                                                     | MSC 2018-H3 A5                                                                                                                         | CUSIP: 61767YAZ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $70786.06     | 0.13%             | 2051-07-17      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| Edison International                                                                 | EIX 4.125 03/15/28                                                                                                                     | CUSIP: 281020AM9<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |     72000 | PA      | $66908.59     | 0.12%             | 2028-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Mylan Inc                                                                            | VTRS 4.55 04/15/28                                                                                                                     | CUSIP: 628530BK2<br>LEI: 30ZMPDNA1RHIBH89C294 | Long             | DBT              | CORP              | US        |     93000 | PA      | $86297.87     | 0.16%             | 2028-04-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NGPL Pipe Co LLC                                                                     | NGPLCO 7.768 12/15/37 144A                                                                                                             | CUSIP: 62912XAC8<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |     81000 | PA      | $84625.36     | 0.15%             | 2037-12-15      | Fixed         | 7.77%                 | Yes           |                  2 | On Loan: No      |
| Netflix, Inc.                                                                        | NFLX 6.375 05/15/29                                                                                                                    | CUSIP: 64110LAX4<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     76000 | PA      | $78225.84     | 0.14%             | 2029-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corporation                                                         | TFC 2.85 10/26/24 MTN                                                                                                                  | CUSIP: 05531FBB8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     22000 | PA      | $21223.03     | 0.04%             | 2024-10-26      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| SunTrust Capital I                                                                   | TFC F 05/15/27 A                                                                                                                       | CUSIP: 86787XAA3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    185000 | PA      | $171445.33    | 0.31%             | 2027-05-15      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Toll Brothers Finance Corp.                                                          | TOL 3.8 11/01/29                                                                                                                       | CUSIP: 88947EAU4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $94027.52     | 0.17%             | 2029-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                                                            | TD 1.15 06/12/25 MTN                                                                                                                   | CUSIP: 89114QCH9<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $109465.05    | 0.20%             | 2025-06-12      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| Raytheon Technologies Corporation                                                    | Raytheon Technologies Corporation COM                                                                                                  | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      9476 | NS      | $956317.92    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                                                                       | Salesforce Inc COM USD0.001                                                                                                            | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      4910 | NS      | $651016.90    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Magallanes Inc.                                                                      | WBD 4.279 03/15/32 144A                                                                                                                | CUSIP: 55903VAL7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     58000 | PA      | $47842.47     | 0.09%             | 2032-03-15      | Fixed         | 4.28%                 | Yes           |                  2 | On Loan: No      |
| Magallanes Inc.                                                                      | WBD 5.141 03/15/52 144A                                                                                                                | CUSIP: 55903VAQ6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     58000 | PA      | $42369.99     | 0.08%             | 2052-03-15      | Fixed         | 5.14%                 | Yes           |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                                             | LLOYDS V3.574 11/07/28                                                                                                                 | CUSIP: 539439AQ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $180401.39    | 0.33%             | 2028-11-07      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                                | LOW 4.5 04/15/30                                                                                                                       | CUSIP: 548661DU8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    113000 | PA      | $108583.73    | 0.20%             | 2030-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Mars Inc. (Del)                                                                      | MARS 3.875 04/01/39 144A                                                                                                               | CUSIP: 571676AD7<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     96000 | PA      | $81902.12     | 0.15%             | 2039-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| MasterCard Incorporated                                                              | MA 2 11/18/31                                                                                                                          | CUSIP: 57636QAU8<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    112000 | PA      | $90224.01     | 0.16%             | 2031-11-18      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 2.987 10/30/56                                                                                                                      | CUSIP: 92343VFW9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     98000 | PA      | $60188.68     | 0.11%             | 2056-10-30      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                                                             | V 4.15 12/14/35                                                                                                                        | CUSIP: 92826CAE2<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |     65000 | PA      | $61601.23     | 0.11%             | 2035-12-14      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Microsoft Corporation                                                                | MSFT 3.5 02/12/35                                                                                                                      | CUSIP: 594918BC7<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |     49000 | PA      | $44509.59     | 0.08%             | 2035-02-12      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Microchip Technology Incorporated                                                    | MCHP 0.983 09/01/24                                                                                                                    | CUSIP: 595017BC7<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    112000 | PA      | $103754.22    | 0.19%             | 2024-09-01      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| VMware Inc                                                                           | VMW 1.4 08/15/26                                                                                                                       | CUSIP: 928563AJ4<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |     71000 | PA      | $61972.22     | 0.11%             | 2026-08-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                                                                          | WMT 2.85 07/08/24                                                                                                                      | CUSIP: 931142EL3<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92375.41     | 0.17%             | 2024-07-08      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                                                               | MU 2.703 04/15/32                                                                                                                      | CUSIP: 595112BS1<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |     54000 | PA      | $40706.48     | 0.07%             | 2032-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                                                               | MU 6.75 11/01/29                                                                                                                       | CUSIP: 595112BV4<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20385.17     | 0.04%             | 2029-11-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                                | WFCM 2019-C51 A4                                                                                                                       | CUSIP: 95001VAU4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $151440.76    | 0.28%             | 2052-06-17      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2019-C53                                       | WFCM 2019-C53 A4                                                                                                                       | CUSIP: 95002BAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145000 | PA      | $126672.86    | 0.23%             | 2052-10-18      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| Midwest Connector Capital Company LLC                                                | MWXCAP 3.9 04/01/24 144A                                                                                                               | CUSIP: 59833CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66000 | PA      | $63924.98     | 0.12%             | 2024-04-01      | Fixed         | 3.90%                 | Yes           |                  2 | On Loan: No      |
| Westvaco Corporation                                                                 | WRK 8.2 01/15/30                                                                                                                       | CUSIP: 961548AV6<br>LEI: 4DL8C98Z5G5IXZLH3578 | Long             | DBT              | CORP              | US        |     52000 | PA      | $58779.62     | 0.11%             | 2030-01-15      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group Inc.                                                                | WEC V0 05/15/67                                                                                                                        | CUSIP: 976657AH9<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    199000 | PA      | $166471.46    | 0.30%             | 2067-05-15      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| Schlumberger Limited                                                                 | Schlumberger Limited COM USD0.01                                                                                                       | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     11589 | NS      | $619547.94    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.                                                               | Southwest Airlines Co. COM USD1                                                                                                        | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     12061 | NS      | $406093.87    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem, Inc.                                                                          | XYL 1.95 01/30/28                                                                                                                      | CUSIP: 98419MAM2<br>LEI: 549300DF5MV96DRYLQ48 | Long             | DBT              | CORP              | US        |    117000 | PA      | $100632.84    | 0.18%             | 2028-01-30      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | Comcast Corporation COM USD0.01 CL A                                                                                                   | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     15413 | NS      | $538992.61    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                                                                      | Deere & Company COM USD1                                                                                                               | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       708 | NS      | $303562.08    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Dupont De Nemours Inc                                                                | Dupont De Nemours Inc COM USD0.01                                                                                                      | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      9297 | NS      | $638053.11    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corporation                                                               | CMS V4.75 06/01/50                                                                                                                     | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |     89000 | PA      | $76981.38     | 0.14%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CNH Industrial Capital LLC                                                           | CNHI 1.45 07/15/26                                                                                                                     | CUSIP: 12592BAM6<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    118000 | PA      | $104253.15    | 0.19%             | 2026-07-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Inc                                                                  | LNG 4.625 10/15/28                                                                                                                     | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |    112000 | PA      | $101239.70    | 0.18%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C 3.2 10/21/26                                                                                                                         | CUSIP: 172967KY6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     77000 | PA      | $71313.91     | 0.13%             | 2026-10-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V0.981 05/01/25                                                                                                                      | CUSIP: 172967MX6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    128000 | PA      | $119808.37    | 0.22%             | 2025-05-01      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| CITIGROUP COMMERCIAL MORTGAGE TRUST                                                  | CGCMT 2020-GC46 A5                                                                                                                     | CUSIP: 17328RAZ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    255000 | PA      | $215761.77    | 0.39%             | 2053-02-18      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | CMCSA 4 03/01/48                                                                                                                       | CUSIP: 20030NCK5<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     74000 | PA      | $59150.45     | 0.11%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corporation                                                              | Exxon Mobil Corporation COM NPV                                                                                                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     10485 | NS      | $1156495.50   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Capital Trust C                                                                  | PNC F 06/01/28                                                                                                                         | CUSIP: 69349AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    121000 | PA      | $111547.82    | 0.20%             | 2028-06-01      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| The Procter & Gamble Company                                                         | PG 1.2 10/29/30                                                                                                                        | CUSIP: 742718FM6<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |     41000 | PA      | $32272.31     | 0.06%             | 2030-10-29      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                           | PRU V5.125 03/01/52                                                                                                                    | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |     92000 | PA      | $83720.00     | 0.15%             | 2052-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FedEx Corporation                                                                    | FedEx Corporation COM USD0.10                                                                                                          | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |      1118 | NS      | $193637.60    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corporation                                                                      | Fox Corporation COM USD0.01 CL A                                                                                                       | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |      3694 | NS      | $112186.78    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | Goldman Sachs Group, Inc. COM USD0.01                                                                                                  | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      3246 | NS      | $1114611.48   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc                                                               | ROP 2.95 09/15/29                                                                                                                      | CUSIP: 776743AG1<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |     71000 | PA      | $61661.80     | 0.11%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Sabine Pass Liquefaction, LLC                                                        | SPLLLC 5 03/15/27                                                                                                                      | CUSIP: 785592AS5<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19634.51     | 0.04%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                                                                 | POLAND 5.75 11/16/32                                                                                                                   | CUSIP: 857524AE2<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     62000 | PA      | $65974.57     | 0.12%             | 2032-11-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HCA Healthcare Inc                                                                   | HCA Healthcare Inc COM USD0.01                                                                                                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      3562 | NS      | $854737.52    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 4.15 11/15/30                                                                                                                     | CUSIP: 11135FAQ4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    116000 | PA      | $104087.18    | 0.19%             | 2030-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Brunswick Corporation                                                                | BC 4.4 09/15/32                                                                                                                        | CUSIP: 117043AU3<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | DBT              | CORP              | US        |     82000 | PA      | $69458.23     | 0.13%             | 2032-09-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Burlington Northern Santa Fe LLC                                                     | BNSF 5.75 05/01/40                                                                                                                     | CUSIP: 12189LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     81000 | PA      | $85219.76     | 0.15%             | 2040-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Canadian Natural Resources Limited                                                   | CNQCN 6.25 03/15/38                                                                                                                    | CUSIP: 136385AL5<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |     65000 | PA      | $64630.29     | 0.12%             | 2038-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corporation                                                           | CARR 3.577 04/05/50                                                                                                                    | CUSIP: 14448CAS3<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     54000 | PA      | $38774.12     | 0.07%             | 2050-04-05      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings Llc                                                             | CE 6.165 07/15/27                                                                                                                      | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88898.14     | 0.16%             | 2027-07-15      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Cenovus Energy Inc                                                                   | CVECN 5.25 06/15/37                                                                                                                    | CUSIP: 15135UAP4<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |     74000 | PA      | $67713.53     | 0.12%             | 2037-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 6.484 10/23/45                                                                                                                    | CUSIP: 161175BA1<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |     79000 | PA      | $71545.00     | 0.13%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                                                       | SCHW 1.15 05/13/26                                                                                                                     | CUSIP: 808513BR5<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    142000 | PA      | $126327.04    | 0.23%             | 2026-05-13      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                                                       | SCHW V5 PERP                                                                                                                           | CUSIP: 808513CB9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |     62000 | PA      | $56605.91     | 0.10%             | N/A             | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP Funding LLC                                                               | NXPI 5.35 03/01/26                                                                                                                     | CUSIP: 62947QBB3<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | NL        |     90000 | PA      | $89577.78     | 0.16%             | 2026-03-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corporation                                                         | NSC 4.837 10/01/41                                                                                                                     | CUSIP: 655844BH0<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |     81000 | PA      | $74818.59     | 0.14%             | 2041-10-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corporation                                                           | NTRS 6.125 11/02/32                                                                                                                    | CUSIP: 665859AX2<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |     76000 | PA      | $80401.77     | 0.15%             | 2032-11-02      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Northwestern Mutual Life Insurance Co.                                               | NWMLIC 3.85 09/30/47 144A                                                                                                              | CUSIP: 668138AA8<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |    113000 | PA      | $86826.83     | 0.16%             | 2047-09-30      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| Ohio Power Company                                                                   | AEP 2.9 10/01/51 R                                                                                                                     | CUSIP: 677415CU3<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |    104000 | PA      | $68286.03     | 0.12%             | 2051-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Oracle Corporation                                                                   | ORCL 4.3 07/08/34                                                                                                                      | CUSIP: 68389XAV7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     24000 | PA      | $21118.55     | 0.04%             | 2034-07-08      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Oracle Corporation                                                                   | ORCL 2.65 07/15/26                                                                                                                     | CUSIP: 68389XBM6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     46000 | PA      | $42331.48     | 0.08%             | 2026-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE SECURITIES TRUST                                                         | GSMS 2020-GC47 A5                                                                                                                      | CUSIP: 36258RBA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80000 | PA      | $66209.68     | 0.12%             | 2053-05-14      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 5.375 09/01/26                                                                                                                     | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     88000 | PA      | $87099.85     | 0.16%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Oracle Corporation                                                                   | ORCL 3.6 04/01/40                                                                                                                      | CUSIP: 68389XBW4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     32000 | PA      | $23785.52     | 0.04%             | 2040-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Company                                                     | PCG 3.5 08/01/50                                                                                                                       | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    126000 | PA      | $79621.97     | 0.14%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc                                                                       | HD 5.95 04/01/41                                                                                                                       | CUSIP: 437076AV4<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |     59000 | PA      | $64401.47     | 0.12%             | 2041-04-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Host Hotels & Resorts, L.P.                                                          | HST 4.5 02/01/26 F                                                                                                                     | CUSIP: 44107TAW6<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              | CORP              | US        |    122000 | PA      | $117045.20    | 0.21%             | 2026-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PacifiCorp.                                                                          | BRKHEC 5.75 04/01/37                                                                                                                   | CUSIP: 695114CD8<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |     89000 | PA      | $90868.98     | 0.17%             | 2037-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corporation                                                          | PH 4.25 09/15/27                                                                                                                       | CUSIP: 701094AR5<br>LEI: 5493002CONDB4N2HKI23 | Long             | DBT              | CORP              | US        |     96000 | PA      | $93247.76     | 0.17%             | 2027-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares Incorporated                                                   | HBAN 2.55 02/04/30                                                                                                                     | CUSIP: 446150AS3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    126000 | PA      | $103938.09    | 0.19%             | 2030-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                              | HYNMTR 2.65 02/10/25 144A                                                                                                              | CUSIP: 44891ABF3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     94000 | PA      | $88451.79     | 0.16%             | 2025-02-10      | Fixed         | 2.65%                 | Yes           |                  2 | On Loan: No      |
| Pepsico Inc                                                                          | PEP 1.625 05/01/30                                                                                                                     | CUSIP: 713448EZ7<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |     55000 | PA      | $44972.24     | 0.08%             | 2030-05-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Peru (Republic of)                                                                   | PERU 2.78 12/01/60                                                                                                                     | CUSIP: 715638DQ2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    146000 | PA      | $84640.32     | 0.15%             | 2060-12-01      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                                                     | PARA 4.95 05/19/50                                                                                                                     | CUSIP: 92556HAC1<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     51000 | PA      | $37340.49     | 0.07%             | 2050-05-19      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                        | USB V4.967 07/22/33                                                                                                                    | CUSIP: 91159HJG6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     86000 | PA      | $81871.80     | 0.15%             | 2033-07-22      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | T 1.75 08/15/41                                                                                                                        | CUSIP: 912810TA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $172353.52    | 0.31%             | 2041-08-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | TII 0.125 02/15/52                                                                                                                     | CUSIP: 912810TE8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    240872 | PA      | $155973.70    | 0.28%             | 2052-02-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | T 2.875 05/15/52                                                                                                                       | CUSIP: 912810TG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $404375.00    | 0.73%             | 2052-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | T 4 11/15/52                                                                                                                           | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    175000 | PA      | $176804.69    | 0.32%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | XIT 4 11/15/42                                                                                                                         | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    350000 | PA      | $344914.06    | 0.63%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 4.375 10/31/24                                                                                                                       | CUSIP: 91282CFQ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2120000 | PA      | $2114948.44   | 3.84%             | 2024-10-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 4.5 05/15/35                                                                                                                         | CUSIP: 00206RCP5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     54000 | PA      | $49172.86     | 0.09%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 4.125 11/15/32                                                                                                                       | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     45000 | PA      | $46089.84     | 0.08%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 3.5 08/15/39                                                                                                                       | CUSIP: 91324PDT6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    107000 | PA      | $87908.97     | 0.16%             | 2039-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Aercap Ireland Capital DAC                                                           | AER 2.45 10/29/26                                                                                                                      | CUSIP: 00774MAV7<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    150000 | PA      | $131320.68    | 0.24%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| The Allstate Corporation                                                             | ALL V5.75 08/15/53 B                                                                                                                   | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |     89000 | PA      | $83660.00     | 0.15%             | 2053-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                               | FG G05624                                                                                                                              | CUSIP: 3128M7SM9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    103752 | PA      | $103033.71    | 0.19%             | 2039-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                               | FR SD1436                                                                                                                              | CUSIP: 3132DNSZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    311501 | PA      | $300370.10    | 0.55%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| American Express Company                                                             | AXP 2.25 03/04/25                                                                                                                      | CUSIP: 025816CQ0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     74000 | PA      | $69881.15     | 0.13%             | 2025-03-04      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide Inc                    | ABIBB 4.9 02/01/46 *                                                                                                                   | CUSIP: 03522AAJ9<br>LEI: 5493002J2SVENP0PVK27 | Long             | DBT              | CORP              | US        |     74000 | PA      | $67823.60     | 0.12%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Monster Beverage Corp                                                                | Monster Beverage Corp COM USD0.005                                                                                                     | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      8385 | NS      | $851329.05    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                               | FR SD1515                                                                                                                              | CUSIP: 3132DNVG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    305627 | PA      | $294685.94    | 0.54%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                               | FR SD1620                                                                                                                              | CUSIP: 3132DNYR8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    294744 | PA      | $290850.06    | 0.53%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                               | FR SD1638                                                                                                                              | CUSIP: 3132DNZB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    313130 | PA      | $308993.37    | 0.56%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Apple Inc.                                                                           | AAPL 4.65 02/23/46                                                                                                                     | CUSIP: 037833BX7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     67000 | PA      | $63513.97     | 0.12%             | 2046-02-23      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corporation                                                             | ARCC 3.25 07/15/25                                                                                                                     | CUSIP: 04010LAY9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    112000 | PA      | $103141.65    | 0.19%             | 2025-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                        | Netflix, Inc. COM USD0.001                                                                                                             | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      1377 | NS      | $406049.76    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corporation                                                                   | Oracle Corporation COM USD0.01                                                                                                         | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     10755 | NS      | $879113.70    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Incorporation                                                        | Paypal Holdings Incorporation COM USD0.0001                                                                                            | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      4370 | NS      | $311231.40    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                               | FG Q29260                                                                                                                              | CUSIP: 3132M95V2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     73239 | PA      | $70317.49     | 0.13%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                               | FR QE9228                                                                                                                              | CUSIP: 3133BKHD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    304091 | PA      | $293153.77    | 0.53%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Amcor Flexibles North America Inc                                                    | AMCR 2.63 06/19/30                                                                                                                     | CUSIP: 081437AT2<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |    100000 | PA      | $81521.62     | 0.15%             | 2030-06-19      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                     | Philip Morris International Inc. COM NPV                                                                                               | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      8556 | NS      | $865952.76    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Enable Midstream Partners LP                                                         | ET 4.15 09/15/29                                                                                                                       | CUSIP: 292480AM2<br>LEI: 549300TLGDBYE711G509 | Long             | DBT              | CORP              | US        |    115000 | PA      | $104150.03    | 0.19%             | 2029-09-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Equinix, Inc.                                                                        | EQIX 2.9 11/18/26                                                                                                                      | CUSIP: 29444UBD7<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |     84000 | PA      | $76833.40     | 0.14%             | 2026-11-18      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 725423                                                                                                                              | CUSIP: 31402C4G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45175 | PA      | $46605.84     | 0.08%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 725610                                                                                                                              | CUSIP: 31402DDP2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     40647 | PA      | $41969.16     | 0.08%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fnma Pass-Thru I                                                                     | FN FS2906                                                                                                                              | CUSIP: 3140XJGQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    301421 | PA      | $297489.42    | 0.54%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 890310                                                                                                                              | CUSIP: 31410LDP4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8601 | PA      | $8535.31      | 0.02%             | 2040-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AD9193                                                                                                                              | CUSIP: 31418XGB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30358 | PA      | $30767.87     | 0.06%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust 2015-Dc1                                                   | COMM 2015-DC1 A5                                                                                                                       | CUSIP: 12629NAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80000 | PA      | $76195.26     | 0.14%             | 2048-02-12      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 5.125 07/20/45                                                                                                                     | CUSIP: 126650CN8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     73000 | PA      | $66238.73     | 0.12%             | 2045-07-20      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                                  | CATMED 4.187 10/01/49                                                                                                                  | CUSIP: 20268JAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $67452.10     | 0.12%             | 2049-10-01      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| Continental Resources, Inc.                                                          | CLR 5.75 01/15/31 144A                                                                                                                 | CUSIP: 212015AT8<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |     60000 | PA      | $55870.61     | 0.10%             | 2031-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Corestates Capital III                                                               | WFC F 02/15/27 144A                                                                                                                    | CUSIP: 21869MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    149000 | PA      | $138779.79    | 0.25%             | 2027-02-15      | Floating      | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Crown Castle Inc.                                                                    | CCI 3.65 09/01/27                                                                                                                      | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93031.90     | 0.17%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| DH Europe Finance II SARL                                                            | DHR 3.25 11/15/39                                                                                                                      | CUSIP: 23291KAJ4<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |    104000 | PA      | $83617.68     | 0.15%             | 2039-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Holdings Inc.                                                      | SS&C Technologies Holdings Inc. COM USD0.01                                                                                            | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |      8036 | NS      | $418354.16    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corporation                                                                | Starbucks Corporation COM USD0.001                                                                                                     | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      4787 | NS      | $474870.40    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Incorporated                                                       | Texas Instruments Incorporated COM USD1.00                                                                                             | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      5122 | NS      | $846256.84    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp.                                                                        | U.S. Bancorp. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES L NON-CUMULATIVE PERPETUAL PREFERRED STOCK | CUSIP: 902973734<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |       283 | NS      | $4386.50      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UnitedHealth Group Inc. COM USD0.01                                                                                                    | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      2825 | NS      | $1497758.50   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care Ltd Partnership / Sabra Capital Corp                               | SBRA 5.125 08/15/26                                                                                                                    | CUSIP: 14162VAB2<br>LEI: 5493001YP3WEETKSV608 | Long             | DBT              | CORP              | US        |     74000 | PA      | $70528.47     | 0.13%             | 2026-08-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SBA Tower Trust                                                                      | SBATOW 6.599 01/15/28 144A                                                                                                             | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     96000 | PA      | $96304.63     | 0.18%             | 2052-11-15      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| The Sherwin-Williams Company                                                         | SHW 4.5 06/01/47                                                                                                                       | CUSIP: 824348AX4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |     83000 | PA      | $70180.00     | 0.13%             | 2047-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Starbucks Corporation                                                                | SBUX 3.35 03/12/50                                                                                                                     | CUSIP: 855244AX7<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |     65000 | PA      | $46264.71     | 0.08%             | 2050-03-12      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| STORE Capital Corp.                                                                  | STOR 4.5 03/15/28                                                                                                                      | CUSIP: 862121AA8<br>LEI: 5493004EA6C9IHDZ7N66 | Long             | DBT              | CORP              | US        |     37000 | PA      | $33426.34     | 0.06%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STORE Capital Corp.                                                                  | STOR 4.625 03/15/29                                                                                                                    | CUSIP: 862121AB6<br>LEI: 5493004EA6C9IHDZ7N66 | Long             | DBT              | CORP              | US        |     63000 | PA      | $56609.49     | 0.10%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.875 04/15/30                                                                                                                    | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    118000 | PA      | $107168.79    | 0.19%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Hilton Worldwide Holdings Inc                                                        | Hilton Worldwide Holdings Inc COM USD0.01                                                                                              | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      3850 | NS      | $486486.00    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Incorporated                                                                 | Hubbell Incorporated COM USD0.001                                                                                                      | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      3221 | NS      | $755904.28    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corporation                                          | International Business Machines Corporation COM USD0.20                                                                                | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      4367 | NS      | $615266.63    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust                                                                        | Ishares Trust J.P. MORGAN USD EMERG MKTS                                                                                               | CUSIP: 464288281<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     14788 | NS      | $1250916.92   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                                                    | Johnson & Johnson COM USD1.00                                                                                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      7614 | NS      | $1345013.10   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Incorporated                                                      | Jones Lang LaSalle Incorporated COM USD0.01                                                                                            | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      2398 | NS      | $382169.26    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                                                                           | Airbnb Inc COM CL A                                                                                                                    | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      3072 | NS      | $262656.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                                                            | Alibaba Group Holding Ltd SPON ADS EACH REP 8 ORD SHS                                                                                  | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |      2793 | NS      | $246035.37    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                                                        | Alphabet Inc. CAP USD0.001 CL C                                                                                                        | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     19179 | NS      | $1701752.67   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                                                                     | Amazon.com, Inc. COM USD0.01                                                                                                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     14620 | NS      | $1228080.00   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-24

**Name of Applicant:** Touchstone Variable Series Trust

**Signature:** Terrie A. Wiedenheft

**Name of Signer:** Terrie A. Wiedenheft

**Title:** Controller & Treasurer