# EDGAR Filing Document

**Accession Number:** 0001045487
**File Stem:** 0000910472-26-003736
**Filing Date:** 2026-3
**Character Count:** 43951
**Document Hash:** 776991646a6d25731eb03c608632c6cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-003736.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000910472-26-003736

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JAMES ADVANTAGE FUNDS
- **CENTRAL INDEX KEY:** 0001045487

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08411
- **FILM NUMBER:** 26706588

**BUSINESS ADDRESS:**
- **STREET 1:** 1349 FAIRGROUND RD
- **CITY:** BEAVERCREEK
- **STATE:** OH
- **ZIP:** 45385
- **BUSINESS PHONE:** 9374267640

**MAIL ADDRESS:**
- **STREET 1:** 1349 FAIRGROUND RD
- **CITY:** BEAVERCREEK
- **STATE:** OH
- **ZIP:** 45385

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JAMES FUNDS
- **DATE OF NAME CHANGE:** 19970904

## Series and Classes Contracts Data

### James Balanced: Golden Rainbow Fund (Series ID: S000003560)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000009900 | Retail Class        | GLRBX           |
| C000075008 | Institutional Class | GLRIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** JAMES ADVANTAGE FUNDS

- **b. Investment Company Act file number:** 811-08411

- **c. CIK number of Registrant:** 0001045487

- **d. LEI of Registrant:** 549300426TIVT528ZP40

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

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

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

- **a. Name of Series:** JAMES BALANCED: GOLDEN RAINBOW FUND

- **b. EDGAR series identifier (if any):** S000003560

- **c. LEI of Series:** 5493002CAUTT0DENCO09

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $417181546.68

**Total Liabilities:** $674696.49

**Net Assets:** $416506850.19

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 570.15108608 | **1-Year:** 2384.04596976 | **5-Year:** 7175.61322146 | **10-Year:** 19041.82458601 | **30-Year:** 2750.70295270

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000009900 | 0.94%                | 1.06%                | 0.18%                |
| Class ID C000075008 | 0.96%                | 1.08%                | 0.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1320171.00              | $2220054.41                                |
| Month 2  | $2174377.94              | $1844790.71                                |
| Month 3  | $3617214.34              | $-3315003.45                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABB Ltd.                                     | ABB Ltd. ADR                                                        | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |     36350 | NS      | $2688809.50   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                          | Abbott Laboratories                                                 | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     19650 | NS      | $2461948.50   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                  | AbbVie, Inc.                                                        | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     13000 | NS      | $2970370.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products & Chemicals, Inc.               | AIR PRODUCTS AND CHEMICALS INC 4.85%, DUE 02/08/2034                | CUSIP: 009158BK1<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1016673.27   | 0.24%             | 2034-02-08      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                | Alphabet, Inc. Class A                                              | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     37159 | NS      | $11630767.00  | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                             | Amazon.com, Inc.                                                    | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     28989 | NS      | $6691240.98   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co, Inc.             | American Electric Power Company, Inc.                               | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     19082 | NS      | $2200345.42   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                   | Apple, Inc.                                                         | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     50105 | NS      | $13621545.30  | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                   | Apple, Inc. 2.05%, Due 9/11/2026                                    | CUSIP: 037833DN7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2471991.13   | 0.59%             | 2026-09-11      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Gallagher Aj &Co                             | GALLAGHER ARTHUR J & CO SR GLBL NT 54 .                             | CUSIP: 04316JAJ8<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1966253.88   | 0.47%             | 2054-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                              | AstraZeneca plc ADR                                                 | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     16251 | NS      | $1493954.43   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancorp Inc                                  | Bancorp, Inc. (The)                                                 | CUSIP: 05969A105<br>LEI: 894500FP2ICT1B019Y71 | Long             | EC               | CORP              | US        |     24149 | NS      | $1630540.48   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                        | Bank of America Corporation 1.25%, due 09/24/2026                   | CUSIP: 06048WP20<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1961518.12   | 0.47%             | 2026-09-24      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Inc.                      | Berkshire Hathaway, Inc. Class B                                    | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      7007 | NS      | $3522068.55   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc.                               | Blackrock, Inc.                                                     | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      1642 | NS      | $1757498.28   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                 | Broadcom, Inc.                                                      | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     16803 | NS      | $5815518.30   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                              | CBRE Group, Inc.                                                    | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     12898 | NS      | $2073869.42   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                              | The Cigna Group SR GLBL NT 5.125% Due 05/15/2031                    | CUSIP: 125523CU2<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1033399.92   | 0.25%             | 2031-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                              | CVS Health Corporation 5.40%, DUE 06/01/2029                        | CUSIP: 126650EB2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2589238.65   | 0.62%             | 2029-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Casey'S General Stores Inc.                  | Casey's General Stores, Inc.                                        | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      3452 | NS      | $1907954.92   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                              | Caterpillar, Inc.                                                   | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      9252 | NS      | $5300193.24   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Financial Services Corp.         | CATERPILLAR FINANCIAL SERVICES CORPORATION 8.25%, Due 12/15/2038    | CUSIP: 14912L6T3<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1299217.39   | 0.31%             | 2038-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Chevron Corp.                                | Chevron Corporation                                                 | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $3048200.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Consolidated Inc                   | Coca-Cola Consolidated, Inc.                                        | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |      5839 | NS      | $895118.70    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                          | Comcast Corporation 5.35%, Due 11/15/2027                           | CUSIP: 20030NEA5<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2046254.44   | 0.49%             | 2027-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                          | Comcast Corporation 5.30%, due 05/15/2035                           | CUSIP: 20030NEP2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1022461.88   | 0.25%             | 2035-05-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Deckers Outdoor Corp.                        | Deckers Outdoor Corporation                                         | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |      9987 | NS      | $1035352.29   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| John Deere Capital Corp.                     | John Deere Capital Corporation 5.10%, Due 04/11/2034                | CUSIP: 24422EXP9<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4136200.56   | 0.99%             | 2034-04-11      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                           | Energy Transfer LP 5.55%, Due 05/15/2034                            | CUSIP: 29273VAY6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2055313.02   | 0.49%             | 2034-05-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Enova International Inc.                     | Enova International, Inc.                                           | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |     49844 | NS      | $7835476.80   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                            | Exxon Mobil Corporation                                             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     15605 | NS      | $1877905.70   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                           | Meta Platforms, Inc. Class A                                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      6405 | NS      | $4227876.45   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Banks                      | Federal Home Loan Bank 1.02%, Due 09/17/2026                        | CUSIP: 3130ANQD5<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   2500000 | PA      | $2454999.38   | 0.59%             | 2026-09-17      | Fixed         | 1.02%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Banks                      | Federal Home Loan Bank 5.00%, DUE 06/26/2029                        | CUSIP: 3130B1UH8<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   2500000 | PA      | $2516434.95   | 0.60%             | 2029-06-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks                    | Federal Farm Credit Bank 2.75%, Due 11/06/2026                      | CUSIP: 3133EFNH6<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |   5725000 | PA      | $5688615.56   | 1.37%             | 2026-11-06      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks                    | Federal Farm Credit Bank 2.75%, Due 11/06/2026                      | CUSIP: 3133EFNH6<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |   2500000 | PA      | $2499616.20   | 0.60%             | 2030-10-02      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks                    | Federal Farm Credit Bank 4.78%, due 10/29/2035                      | CUSIP: 3133ETP35<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |   1000000 | PA      | $997719.66    | 0.24%             | 2035-10-29      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association        | Federal National Mortgage Association 3.50%, Due 05/25/2047         | CUSIP: 3136B0KE5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    167628 | PA      | $163171.63    | 0.04%             | 2047-05-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association        | Federal National Mortgage Association 3.50%, Due 09/01/2033         | CUSIP: 3138X5R82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2140976 | PA      | $2099416.10   | 0.50%             | 2033-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association        | Federal National Mortgage Association 2.50%, Due 01/01/2057         | CUSIP: 3140FXFR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   9950630 | PA      | $8469067.72   | 2.03%             | 2057-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| First American Funds Inc.                    | First American Treasury Obligations Fund Class X                    | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   4853390 | PA      | $4853390.24   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corporation                              | Fox Corporation                                                     | CUSIP: 35137L204<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     16459 | NS      | $1068682.87   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                             | Arthur J Gallagher & Company                                        | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      9295 | NS      | $2405453.05   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Aerospace                                 | General Electric Company                                            | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      4150 | NS      | $1278324.50   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Funds                               | GLOBAL X DEFENSE TECH ETF                                           | CUSIP: 37960A529<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |     32502 | NS      | $2105804.58   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                    | Goldman Sachs Group, Inc. (The)                                     | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      4377 | NS      | $3847383.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                              | Home Depot, Inc. (The)                                              | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     10265 | NS      | $3532186.50   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola, S.A.                              | Iberdrola S.A. ADR                                                  | CUSIP: 450737101<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |     22276 | NS      | $1924646.40   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Gold Trust                           | iShares Gold Trust                                                  | CUSIP: 464285204<br>LEI: 5493006UOY7GXQW0IP42 | Long             | EC               | RF                | US        |    193533 | NS      | $15709073.61  | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                | iShares MSCI EAFE ETF                                               | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     35600 | NS      | $3418668.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                | iShares Russell 2000 ETF                                            | CUSIP: 464287655<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     25000 | NS      | $6154000.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Silver Trust                         | iShares Silver Trust                                                | CUSIP: 46428Q109<br>LEI: 549300K2C2CG14B0ZA09 | Long             | EC               | RF                | US        |     28989 | NS      | $1867471.38   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                         | JPMorgan Chase & Company                                            | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     30926 | NS      | $9964975.72   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                                    | Jabil, Inc.                                                         | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     19148 | NS      | $4366126.96   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase Bank, National Association    | JP Morgan Chase Bank 4.8% Due 07/29/2027                            | CUSIP: 46632FUG8<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2013198.49   | 0.48%             | 2027-07-29      | Fixed         | 4.80%                 | No            |                  1 | On Loan: No      |
| Johnson & Johnson                            | Johnson & Johnson                                                   | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     10625 | NS      | $2198843.75   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Kentucky Utilities Company                   | KENTUCKY UTILITIES COMPANY 5.125%, due 11/01/2040                   | CUSIP: 491674BG1<br>LEI: AGX0G2MXE54NFNNICD28 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $979770.94    | 0.24%             | 2040-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Kimco Realty OP LLC                          | Kimco Realty OP LLC 4.85%, Due 3/1/2025                             | CUSIP: 49447BAB9<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995722.46    | 0.24%             | 2035-03-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                              | Eli Lilly & Company                                                 | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      4540 | NS      | $4879047.20   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp.                        | MGIC Investment Corporation                                         | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     31967 | NS      | $934075.74    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc.                               | M/I Homes, Inc.                                                     | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |     17000 | NS      | $2175150.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                      | Mastercard, Inc. Class A                                            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      9000 | NS      | $5137920.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| McCormick & Company, Incorporated            | McCormick & Co 4.7%  10/15/2034                                     | CUSIP: 579780AU1<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2463358.60   | 0.59%             | 2034-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                             | McDonald's Corporation                                              | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     15786 | NS      | $4824675.18   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                             | McDonald's Corp Bond 6.3% 10/15/2037 .                              | CUSIP: 58013MEC4<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1111543.80   | 0.27%             | 2037-10-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Mckesson Corp.                               | McKesson Corporation                                                | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      1709 | NS      | $1401875.61   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                              | Microsoft Corporation                                               | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     30708 | NS      | $14851002.96  | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                               | MORGAN STANLEY 5.32% Due 07/19/2035                                 | CUSIP: 61747YFT7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2573504.35   | 0.62%             | 2035-07-19      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Nelnet Inc.                                  | Nelnet, Inc. Class A                                                | CUSIP: 64031N108<br>LEI: 549300T6B0Q52I6OM558 | Long             | EC               | CORP              | US        |     15000 | NS      | $1994400.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Capital Holdings Inc          | Nextera Energy Cap Hldgs Inc 1.875% 1/15/2027                       | CUSIP: 65339KBY5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $978846.55    | 0.24%             | 2027-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA Corporation                                                  | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     59028 | NS      | $11008722.00  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.                         | PayPal Holdings, Inc. 2.65%, due 10/01/2026                         | CUSIP: 70450YAD5<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991207.25    | 0.24%             | 2026-10-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| The Procter & Gamble Co.                     | Procter & Gamble Company (The)                                      | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      7104 | NS      | $1018074.24   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage Operating Co.                 | Public Storage Operating Co PSA 4.375  07/01/30                     | CUSIP: 74464AAC5<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2520402.60   | 0.61%             | 2030-07-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corporation                | Regions Financial Corporation                                       | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |     89093 | NS      | $2414420.30   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corporation                  | Southern Copper Corporation                                         | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      5907 | NS      | $847477.29    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                           | State Street Corporation 5.272%, Due 08/03/2026                     | CUSIP: 857477CD3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2012713.78   | 0.48%             | 2026-08-03      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                         | Steel Dynamics, Inc.                                                | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      3717 | NS      | $629845.65    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                       | TJX Companies, Inc. (The)                                           | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     15000 | NS      | $2304150.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                              | T-Mobile US, Inc.                                                   | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     15000 | NS      | $3045600.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd. | Taiwan Semiconductor Manufacturing Company Ltd. ADR                 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      3534 | NS      | $1073947.26   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies Financing Ltd.            | Trane Tech Fin Ltd 5.10% Due 06/13/2034                             | CUSIP: 892938AB7<br>LEI: 549300A5OEF3CJI2CO89 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2047350.88   | 0.49%             | 2034-06-13      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Tyson Foods, Inc.                            | TYSON FOODS INC 4.0%, due 03/01/2026                                | CUSIP: 902494BJ1<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1499571.95   | 0.36%             | 2026-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UC Health LLC                                | UC Health LLC 5.858% Due 08/01/2035                                 | CUSIP: 90293HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2613127.98   | 0.63%             | 2035-08-01      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| United Rentals, Inc.                         | United Rentals, Inc.                                                | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      4060 | NS      | $3285839.20   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                 | U.S. Treasury Bill 0.000%, Due 1/22/2026                            | CUSIP: 912797PD3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9980259.30   | 2.40%             | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                 | U.S. Treasury Bonds 5.50%, due 08/15/2028                           | CUSIP: 912810FE3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $15740625.00  | 3.78%             | 2028-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                 | U.S. Treasury Bonds 5.375%, Due 02/15/2031                          | CUSIP: 912810FP8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $21502343.80  | 5.16%             | 2031-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                 | U.S. Treasury Bonds 4.375%, Due 02/15/2038                          | CUSIP: 912810PW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $5044335.95   | 1.21%             | 2038-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                 | U.S. Treasury Notes 4.625%; Due 11/15/2044                          | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $4899609.40   | 1.18%             | 2044-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                 | U.S. Treasury Note 4.750%, Due 02/15/2045                           | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9949218.80   | 2.39%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                 | U.S. Treasury Notes 2.375%, Due 05/15/2027                          | CUSIP: 912828X88<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9849218.80   | 2.36%             | 2027-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                 | United States Treasury Notes 4.375%, Due 05/15/2034                 | CUSIP: 91282CKQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $15328710.90  | 3.68%             | 2034-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                 | U.S. Treasury Notes 4.250%; Due 11/30/2026                          | CUSIP: 91282CLY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10061262.60  | 2.42%             | 2026-11-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                 | U.S. Treasury Notes 4.25%, Due 05/15/2035                           | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7500000 | PA      | $7562109.38   | 1.82%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                      | UnitedHealth Group, Inc. 5.000%, due  04/15/2034                    | CUSIP: 91324PFB3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2032269.92   | 0.49%             | 2034-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp.                          | Valero Energy Corporation                                           | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     10032 | NS      | $1633109.28   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard International Equity Index Funds    | Vanguard FTSE Emerging Markets ETF Ftse Emerging Markets Etf Shares | CUSIP: 922042858<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |     27506 | NS      | $1478722.56   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                  | Walmart, Inc.                                                       | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     61285 | NS      | $6827761.85   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                  | WAL-MART STORES, INC. 5.25%, DUE 09/01/2035                         | CUSIP: 931142CB7<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2116011.50   | 0.51%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Eaton Corporation PLC                        | Eaton Corp plc                                                      | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |      8845 | NS      | $2817220.95   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                    | Linde plc                                                           | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |      2309 | NS      | $984534.51    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Nova Ltd                                     | Nova Ltd.                                                           | CUSIP: M7516K103<br>LEI: 529900B2DSWE5V3SC292 | Long             | EC               | CORP              | IL        |     14166 | NS      | $4651972.74   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                            | ASML Holding N.V.                                                   | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      2049 | NS      | $2192143.14   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

**Name of Applicant:** Lesley Ott

**Signature:** Lesley Ott

**Name of Signer:** Lesley Ott

**Title:** Chief Compliance Officer