# EDGAR Filing Document

**Accession Number:** 0000751173
**File Stem:** 0000940400-25-001993
**Filing Date:** 2025-9
**Character Count:** 132281
**Document Hash:** e066bb55fe08ee3b91010a3458c38e71
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-001993.hdr.sgml**: 20250923

**ACCESSION NUMBER**: 0000940400-25-001993

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250923

**DATE AS OF CHANGE**: 20250923

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MANNING & NAPIER FUND, INC.
- **CENTRAL INDEX KEY:** 0000751173

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04087
- **FILM NUMBER:** 251334215

**BUSINESS ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450
- **BUSINESS PHONE:** 585-325-6880

**MAIL ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND, INC /NY/
- **DATE OF NAME CHANGE:** 20060929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXETER FUND INC /NY/
- **DATE OF NAME CHANGE:** 19980226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Pro-Blend(R) Extended Term Series (Series ID: S000003639)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000010109 | Pro-Blend(R) Extended Term Series Class L | MNECX           |
| C000010111 | Pro-Blend(R) Extended Term Series Class R | MNBRX           |
| C000010113 | Pro-Blend(R) Extended Term Series Class S | MNBAX           |
| C000059954 | Pro-Blend(R) Extended Term Series Class I | MNBIX           |
| C000206456 | Class W                                   | MNBWX           |

## Nport-Ex

**Investment Portfolio - July 31, 2025** 

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;PRO-BLEND<sup>®</sup> EXTENDED TERM SERIES | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE |
| **COMMON STOCKS - 54.9%** |  |  |
| **Communication Services - 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Interactive Media & Services - 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A | 43089 | $8268779 |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc. - Class A | 13110 | 10139799 |
| **Total Communication Services** |  | 18408578 |
| **Consumer Discretionary - 7.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Automobiles - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Ferrari N.V. (Italy) | 11168 | 4951779 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Broadline Retail - 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc.<sup>\*</sup> | 48630 | 11384769 |
| &nbsp;&nbsp;&nbsp;&nbsp;MercadoLibre, Inc. (Brazil)<sup>\*</sup> | 1023 | 2428490 |
|  |  | 13813259 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.<sup>\*</sup> | 105920 | 4541850 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Household Durables - 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Persimmon plc - ADR (United Kingdom) | 106763 | 3248798 |
| &nbsp;&nbsp;&nbsp;&nbsp;Taylor Wimpey plc - ADR (United Kingdom) | 239317 | 3230780 |
|  |  | 6479578 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Specialty Retail - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;The TJX Companies, Inc. | 21306 | 2653236 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods - 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Hermes International SCA - ADR (France) | 28292 | 6940593 |
| **Total Consumer Discretionary** |  | 39380295 |
| **Consumer Staples - 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Beverages - 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;The Coca-Cola Co. | 113779 | 7724456 |
| **Financials - 9.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Banks - 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;HDFC Bank Ltd. - ADR (India) | 71578 | 5495043 |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 9690 | 2870566 |
| &nbsp;&nbsp;&nbsp;&nbsp;NU Holdings Ltd. - Class A (Brazil)<sup>\*</sup> | 208652 | 2549727 |
|  |  | 10915336 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Capital Markets - 4.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BlackRock, Inc. | 3522 | 3895367 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deutsche Boerse AG - ADR (Germany) | 80440 | 2323107 |
| &nbsp;&nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | 15614 | 2885936 |
| &nbsp;&nbsp;&nbsp;&nbsp;Moody's Corp. | 11085 | 5716867 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nasdaq, Inc. | 27719 | 2667122 |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P Global, Inc. | 7818 | 4308500 |
|  |  | 21796899 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Financial Services - 3.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc. - Class A | 16705 | 9462881 |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc. - Class A | 19604 | 6772594 |
|  |  | 16235475 |
| **Total Financials** |  | 48947710 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE | VALUE |
| **COMMON STOCKS** (continued) |  |  |  |
| **Health Care - 7.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Biotechnology - 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.<sup>\*</sup> | 11191 | $| 5112832 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies - 0.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.<sup>\*</sup> | 10224 |  | 4918664 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Health Care Providers & Services - 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | 25050 |  | 6251478 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Life Sciences Tools & Services - 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lonza Group AG - ADR (Switzerland) | 37542 |  | 2618555 |
| &nbsp;&nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | 10930 |  | 5111742 |
|  |  |  | 7730297 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Pharmaceuticals - 2.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AstraZeneca plc - ADR (United Kingdom) | 70362 |  | 5142759 |
| &nbsp;&nbsp;&nbsp;&nbsp;Roche Holding AG - ADR | 125066 |  | 4866318 |
| &nbsp;&nbsp;&nbsp;&nbsp;Zoetis, Inc. | 15720 |  | 2291819 |
|  |  |  | 12300896 |
| **Total Health Care** |  |  | 36314167 |
| **Industrials - 7.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Aerospace & Defense - 3.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BAE Systems plc - ADR (United Kingdom) | 24877 |  | 2378614 |
| &nbsp;&nbsp;&nbsp;&nbsp;HEICO Corp. - Class A | 16738 |  | 4319911 |
| &nbsp;&nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | 31921 |  | 8772529 |
|  |  |  | 15471054 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Air Freight & Logistics - 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deutsche Post AG - ADR (Germany) | 168592 |  | 7588326 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Commercial Services & Supplies - 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Rollins, Inc. | 45862 |  | 2626517 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Ground Transportation - 1.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Canadian National Railway Co. (Canada) | 24794 |  | 2316999 |
| &nbsp;&nbsp;&nbsp;&nbsp;CSX Corp. | 73399 |  | 2608600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Union Pacific Corp. | 10881 |  | 2415256 |
|  |  |  | 7340855 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Professional Services - 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;TransUnion | 55336 |  | 5267434 |
| **Total Industrials** |  |  | 38294186 |
| **Information Technology - 13.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Electronic Equipment, Instruments & Components - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**Electronic Equipment, Instruments & Components - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**Electronic Equipment, Instruments & Components - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**Electronic Equipment, Instruments & Components - 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Amphenol Corp. - Class A | 24871 |  | 2649010 |
| &nbsp;&nbsp;&nbsp;&nbsp;Halma plc - ADR (United Kingdom) | 29982 |  | 2614131 |
|  |  |  | 5263141 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 2.8%** | &nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 2.8%** | &nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 2.8%** | &nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Infineon Technologies AG - ADR (Germany) | 103119 |  | 4054639 |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | 30061 |  | 5346950 |

---

**1**

**Investment Portfolio - July 31, 2025** 

(unaudited)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;PRO-BLEND<sup>®</sup> EXTENDED TERM SERIES | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE | VALUE |
| **COMMON STOCKS** (continued) |  |  |  |
| **Information Technology** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment** (continued) | &nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment** (continued) | &nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment** (continued) | &nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. - ADR (Taiwan) | 21681 | $| 5238563 |
|  |  |  | 14640152 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Software - 9.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Atlassian Corp. - Class A <sup>\*</sup> | 27710 |  | 5314224 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc.<sup>\*</sup> | 24802 |  | 9042065 |
| &nbsp;&nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings, Inc. - Class A<sup>\*</sup> | 113527 |  | 2300057 |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | 25665 |  | 13692278 |
| &nbsp;&nbsp;&nbsp;&nbsp;Salesforce, Inc. | 9942 |  | 2568317 |
| &nbsp;&nbsp;&nbsp;&nbsp;ServiceNow, Inc.<sup>\*</sup> | 5453 |  | 5142833 |
| &nbsp;&nbsp;&nbsp;&nbsp;Synopsys, Inc.<sup>\*</sup> | 9202 |  | 5829191 |
| &nbsp;&nbsp;&nbsp;&nbsp;Workday, Inc. - Class A<sup>\*</sup> | 21905 |  | 5024569 |
|  |  |  | 48913534 |
| **Total Information Technology** |  |  | 68816827 |
| **Materials - 3.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Chemicals - 3.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Air Liquide S.A. - ADR (France) | 188658 |  | 7433125 |
| &nbsp;&nbsp;&nbsp;&nbsp;Albemarle Corp. | 31838 |  | 2160208 |
| &nbsp;&nbsp;&nbsp;&nbsp;The Sherwin-Williams Co. | 7589 |  | 2511048 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sociedad Quimica y Minera de Chile S.A. - ADR (Chile)<sup>\*</sup> | 127769 |  | 4695511 |
|  |  |  | 16799892 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Paper & Forest Products - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;West Fraser Timber Co. Ltd. (Canada) | 50902 |  | 3528018 |
| **Total Materials** |  |  | 20327910 |
| **Real Estate - 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Real Estate Management & Development - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;**Real Estate Management & Development - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;**Real Estate Management & Development - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;**Real Estate Management & Development - 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;CBRE Group, Inc. - Class A<sup>\*</sup> | 35554 |  | 5537180 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Specialized REITs - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | 17912 |  | 2406656 |
| **Total Real Estate** |  |  | 7943836 |
| **TOTAL COMMON STOCKS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $241,716,505) |  |  | **286157965** |
| **CORPORATE BONDS - 9.7%** |  |  |  |
| **Non-Convertible Corporate Bonds- 9.7%** |  |  |  |
| **Communication Services - 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Entertainment - 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;The Walt Disney Co., 6.65%, 11/15/2037 | 780000 |  | 885198 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Media - 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Open Infra U.S. Assets AB, 11.00%, 2/22/2027 | 600000 |  | 580492 |
| **Total Communication Services** |  |  | 1465690 |

---

---

| | | |
|:---|:---|:---|
|  | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE |
| **CORPORATE BONDS** (continued) |  |  |
| **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Consumer Discretionary - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Broadline Retail - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. (China), 4.00%, 12/6/2037 | 2430000 | $2168929 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Household Durables - 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DR Horton, Inc., 4.85%, 10/15/2030 | 970000 | 975301 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Specialty Retail - 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Ross Stores, Inc., 1.875%, 4/15/2031 | 320000 | 274086 |
| **Total Consumer Discretionary** |  | 3418316 |
| **Energy - 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Energy Equipment & Services - 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Borr IHC Ltd. - Borr Finance LLC (Mexico), 10.00%, 11/15/2028<sup>2</sup> | 471829 | 452126 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Brooge Petroleum and Gas Investment Co. FZE (United Arab Emirates), 8.50%, 9/24/2025 (Acquired 09/10/2020-09/01/2023, cost $443,185)<sup>3</sup> | 500163 | 450157 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cenovus Energy, Inc. (Canada), 6.75%, 11/15/2039 | 1480000 | 1581855 |
| &nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.375%, 2/1/2031<sup>2</sup> | 1000000 | 1045984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 2/1/2042 | 1510000 | 1573972 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc., 4.80%, 2/1/2033 | 780000 | 767069 |
| &nbsp;&nbsp;&nbsp;&nbsp;New Fortress Energy, Inc., 8.75%, 3/15/2029 (Acquired 03/05/2024-03/06/2024, cost $561,794)<sup>3</sup> | 560000 | 130681 |
|  |  | 5549718 |
| **Total Energy** |  | 6001844 |
| **Financials - 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Banks - 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp., (U.S. Secured Overnight Financing Rate + 1.320%), 2.687%, 4/22/2032<sup>4</sup> | 1840000 | 1649921 |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc., (U.S. Secured Overnight Financing Rate + 0.770%), 1.462%, 6/9/2027<sup>4</sup> | 1670000 | 1624541 |
| &nbsp;&nbsp;&nbsp;&nbsp;Citizens Bank NA, (U.S. Secured Overnight Financing Rate + 2.000%), 4.575%, 8/9/2028<sup>4</sup> | 990000 | 989321 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fifth Third Bancorp, (U.S. Secured Overnight Financing Index + 2.192%), 6.361%, 10/27/2028<sup>4</sup> | 1050000 | 1091426 |
| &nbsp;&nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc., 2.55%, 2/4/2030 | 1200000 | 1097844 |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co., (3 mo. U.S. Secured Overnight Financing Rate + 3.790%), 4.493%, 3/24/2031<sup>4</sup> | 2690000 | 2682020 |
| &nbsp;&nbsp;&nbsp;&nbsp;KeyBank NA, 5.85%, 11/15/2027 | 950000 | 976599 |

---

**2**

**Investment Portfolio - July 31, 2025** 

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;PRO-BLEND<sup>®</sup> EXTENDED TERM SERIES | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE |
| **CORPORATE BONDS** (continued) |  |  |
| **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Financials** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Banks** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;The PNC Financial Services Group, Inc., (U.S. Secured Overnight Financing Rate + 1.333%), 4.899%, 5/13/2031<sup>4</sup> | 1670000 | $1688205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Truist Financial Corp., (U.S. Secured Overnight Financing Rate + 0.862%), 1.887%, 6/7/2029<sup>4</sup> | 1770000 | 1647239 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Bancorp, (U.S. Secured Overnight Financing Rate + 1.230%), 4.653%, 2/1/2029<sup>4</sup> | 1600000 | 1607830 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co., (U.S. Secured Overnight Financing Rate + 1.070%), 5.707%, 4/22/2028<sup>4</sup> | 1560000 | 1590311 |
|  |  | 16645257 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Capital Markets - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;The Depository Trust & Clearing Corp., (5 yr. U.S. Treasury Yield Curve Rate T Note Constant Maturity + 2.606%), 3.375%<sup>2,4,5</sup> | 500000 | 484279 |
| &nbsp;&nbsp;&nbsp;&nbsp;Icahn Enterprises LP - Icahn Enterprises Finance Corp., 10.00%, 11/15/2029<sup>2</sup> | 550000 | 556942 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc., 6.20%, 4/14/2034 | 1530000 | 1598039 |
|  |  | 2639260 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Consumer Finance - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corp., (U.S. Secured Overnight Financing Rate + 2.860%), 6.377%, 6/8/2034<sup>4</sup> | 2130000 | 2270760 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Financial Services - 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Golden Pear Funding HoldCo LLC, 10.00%, 3/2/2028 | 340000 | 350004 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Claims Litigation Funding LLC, 10.25%, 3/17/2028 (Acquired 03/14/2023, cost $275,000)<sup>3</sup> | 275000 | 233356 |
|  |  | 583360 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Insurance - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;MassMutual Global Funding II, 4.85%, 1/17/2029<sup>2</sup> | 600000 | 608123 |
| &nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Life Global Funding I, 4.85%, 1/8/2029<sup>2</sup> | 600000 | 609911 |
| &nbsp;&nbsp;&nbsp;&nbsp;New York Life Global Funding, 4.70%, 1/29/2029<sup>2</sup> | 520000 | 525693 |
| &nbsp;&nbsp;&nbsp;&nbsp;SiriusPoint Ltd. (Sweden), 7.00%, 4/5/2029 | 1030000 | 1079942 |
|  |  | 2823669 |
| **Total Financials** |  | 24962306 |
| **Industrials - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Ground Transportation - 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNSF Funding Trust I, (3 mo. CME Term U.S. Secured Overnight Financing Rate + 2.350%), 6.613%, 12/15/2055<sup>4</sup> | 490000 | 491614 |

---

---

| | | |
|:---|:---|:---|
|  | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE |
| **CORPORATE BONDS** (continued) |  |  |
| **Non-Convertible Corporate Bonds** (continued) |  |  |
| **Industrials** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Passenger Airlines - 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alaska Airlines Pass-Through Trust, <br> Series 2020-1, Class B, 8.00%, 8/15/2025<sup>2</sup> | 63230 | $63299 |
| &nbsp;&nbsp;&nbsp;&nbsp;United Airlines Pass-Through Trust, <br> Series 2018-1, Class B, 4.60%, 3/1/2026 | 67044 | 65784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2, Class B, 3.50%, 5/1/2028 | 349988 | 339104 |
|  |  | 468187 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC - AerCap Global Aviation Trust (Ireland), 3.00%, 10/29/2028 | 1130000 | 1075486 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ashtead Capital, Inc. (United Kingdom), 4.00%, 5/1/2028<sup>2</sup> | 1070000 | 1049186 |
|  |  | 2124672 |
| **Total Industrials** |  | 3084473 |
| **Materials - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Metals & Mining - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ACG Holdco 1 Ltd. (United Kingdom), 14.75%, 1/13/2029 | 500000 | 536882 |
| &nbsp;&nbsp;&nbsp;&nbsp;Newcastle Coal Infrastructure Group Pty Ltd. (Australia), 4.40%, 9/29/2027<sup>2</sup> | 1477146 | 1455877 |
| &nbsp;&nbsp;&nbsp;&nbsp;Northwest Acquisitions ULC - Dominion Finco, Inc., 7.125%, 11/1/2022 (Acquired 10/10/2017-09/18/2020, cost $118,233)<sup>3,6</sup> | 653000 | 7 |
| **Total Materials** |  | 1992766 |
| **Real Estate - 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Industrial REITs - 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;IIP Operating Partnership LP, 5.50%, 5/25/2026 | 700000 | 683593 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Retail REITs - 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group LP, 2.65%, 2/1/2032 | 1460000 | 1287369 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Specialized REITs - 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pelorus Fund REIT LLC, 7.00%, 9/30/2026 (Acquired 07/08/2022, cost $552,500)<sup>3</sup> | 650000 | 648482 |
| &nbsp;&nbsp;&nbsp;&nbsp;Safehold GL Holdings LLC, 6.10%, 4/1/2034 | 1145000 | 1196607 |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA Tower Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.599%, 1/15/2028<sup>2</sup> | 1530000 | 1568710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.831%, 10/15/2029<sup>2</sup> | 920000 | 914829 |
|  |  | 4328628 |
| **Total Real Estate** |  | 6299590 |

---

**3**

**Investment Portfolio - July 31, 2025** 

(unaudited)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;PRO-BLEND<sup>®</sup> EXTENDED TERM SERIES | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE | VALUE |
| **CORPORATE BONDS** (continued) |  |  |  |
| **Non-Convertible Corporate Bonds** (continued) |  |  |  |
| **Utilities - 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Electric Utilities - 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alexander Funding Trust II, 7.467%, 7/31/2028<sup>2</sup> | 990000 | $| 1053930 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Palomino Funding Trust I, 7.233%, 5/17/2028<sup>2</sup> | 2020000 |  | 2134607 |
| **Total Utilities** |  |  | 3188537 |
| **TOTAL CORPORATE BONDS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $50,761,889) |  |  | **50413522** |
| **U.S. TREASURY SECURITIES - 16.6%** |  |  |  |
| **U.S. Treasury Bonds - 7.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.375%, 2/15/2042 | 22310000 |  | 16063200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 5/15/2047 | 14705000 |  | 10883997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 2/15/2053 | 13421000 |  | 10797614 |
| **Total U.S. Treasury Bonds** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $40,164,008) |  |  | 37744811 |
| **U.S. Treasury Notes - 9.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Note |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 11/15/2030 | 13047000 |  | 11130722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.375%, 11/15/2031 | 25398000 |  | 21598221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/15/2034 | 16081000 |  | 15980494 |
| **Total U.S. Treasury Notes** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $48,114,194) |  |  | 48709437 |
| **TOTAL U.S. TREASURY SECURITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $88,278,202) |  |  | **86454248** |
| **ASSET-BACKED SECURITIES - 4.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Aligned Data Centers Issuer LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2, 1.937%, 8/15/2046<sup>2</sup> | 1800000 |  | 1740778 |
| &nbsp;&nbsp;&nbsp;&nbsp;ALLO Issuer LLC, Series 2023-1A, Class A2, 6.20%, 6/20/2053<sup>2</sup> | 1450000 |  | 1465649 |
| &nbsp;&nbsp;&nbsp;&nbsp;CF Hippolyta Issuer LLC, Series 2020-1, Class A1, 1.69%, 7/15/2060<sup>2</sup> | 831993 |  | 713647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cogent Ipv4 LLC, Series 2024-1A, Class A2, 7.924%, 5/25/2054<sup>2</sup> | 830000 |  | 868599 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commonbond Student Loan Trust, Series 2019-AGS, Class A1, 2.54%, 1/25/2047<sup>2</sup> | 400667 |  | 365913 |
| &nbsp;&nbsp;&nbsp;&nbsp;Flexential Issuer, Series 2021-1A, Class A2, 3.25%, 11/27/2051<sup>2</sup> | 2150000 |  | 2075947 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hotwire Funding LLC, Series 2023-1A, Class A2, 5.687%, 5/20/2053<sup>2</sup> | 2200000 |  | 2209118 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nelnet Student Loan Trust, Series 2012-3A, Class A, (U.S. Secured Overnight Financing Rate 30 Day Average + 0.814%), 5.164%, 3/26/2040<sup>2,7</sup> | 104740 |  | 104078 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE | VALUE |
| **ASSET-BACKED SECURITIES** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class A1, 1.91%, 10/20/2061<sup>2</sup> | 2275000 | $| 1866072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oxford Finance Credit Fund III LP, Series 2024-A, Class A2, 6.675%, 1/14/2032<sup>2</sup> | 220000 |  | 222028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Oxford Finance Funding LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2, 3.602%, 2/15/2030<sup>2</sup> | 1106339 |  | 1098387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2, 6.716%, 2/15/2031<sup>2</sup> | 2229489 |  | 2237104 |
| &nbsp;&nbsp;&nbsp;&nbsp;PEAR LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A, 2.60%, 1/15/2034<sup>2</sup> | 326209 |  | 323882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A, 7.42%, 7/15/2035<sup>2</sup> | 1248587 |  | 1269065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A, 6.95%, 2/15/2036<sup>2</sup> | 452196 |  | 454268 |
| &nbsp;&nbsp;&nbsp;&nbsp;Slam Ltd., Series 2021-1A, Class A, (Cayman Islands), 2.434%, 6/15/2046<sup>2</sup> | 1339920 |  | 1250842 |
| &nbsp;&nbsp;&nbsp;&nbsp;SLM Student Loan Trust, Series 2012-7, Class A3, (U.S. Secured Overnight Financing Rate 30 Day Average + 0.764%), 5.114%, 5/26/2026<sup>7</sup> | 2165298 |  | 2102316 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stack Infrastructure Issuer LLC, Series 2021-1A, Class A2, 1.877%, 3/26/2046<sup>2</sup> | 1500000 |  | 1466353 |
| **TOTAL ASSET-BACKED SECURITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $22,506,592) |  |  | **21834046** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES - 4.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES - 4.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES - 4.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES - 4.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust, Series 2021-RM2, Class A, 1.75%, 10/25/2061<sup>2,8</sup> | 1043823 |  | 1003480 |
| &nbsp;&nbsp;&nbsp;&nbsp;CIM Trust, Series 2019-INV1, Class A1, 4.00%, 2/25/2049<sup>2,8</sup> | 20588 |  | 19429 |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup Mortgage Loan Trust, Inc., Series 2021-INV1, Class A3A, 2.50%, 5/25/2051<sup>2,8</sup> | 755765 |  | 608040 |
| &nbsp;&nbsp;&nbsp;&nbsp;COLT Mortgage Loan Trust, Series 2021-4, Class A1, 1.397%, 10/25/2066<sup>2,8</sup> | 2059565 |  | 1722723 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit Suisse Mortgage Capital Trust Series 2013-IVR3, Class A1, 2.50%, 5/25/2043<sup>2,8</sup> | 141572 |  | 125631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-TH1, Class A1, 2.13%, 2/25/2043<sup>2,8</sup> | 86185 |  | 75199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-IVR3, Class A1, 3.50%, 7/25/2044<sup>2,8</sup> | 40716 |  | 37844 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deephaven Residential Mortgage Trust, Series 2021-3, Class A1, 1.194%, 8/25/2066<sup>2,8</sup> | 1851466 |  | 1612414 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae REMICS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-31, Class KP, 3.50%, 7/25/2047 | 8641 |  | 8533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-69, Class WJ, 1.50%, 10/25/2050 | 761158 |  | 642756 |

---

**4**

**Investment Portfolio - July 31, 2025** 

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;PRO-BLEND<sup>®</sup> EXTENDED TERM SERIES | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance of America Structured Securities Trust, Series 2022-S6, Class A1, 3.00%, 7/25/2061<sup>2</sup> | 996390 | $986311 |
| &nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac REMICS, Series 5189, Class CP, 2.50%, 6/25/2049 | 1599547 | 1379117 |
| &nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association, Series 2017-54, Class AH, 2.60%, 12/16/2056 | 181564 | 166486 |
| &nbsp;&nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust Series 2021-INV1, Class A9, (U.S. Secured Overnight Financing Rate 30 Day Average + 0.850%), 5.00%, 12/25/2051<sup>2,7</sup> | 1052122 | 975298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PJ6, Class A8, 2.50%, 11/25/2051<sup>2,8</sup> | 760669 | 673187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PJ9, Class A8, 2.50%, 2/26/2052<sup>2,8</sup> | 782441 | 691194 |
| &nbsp;&nbsp;&nbsp;&nbsp;Imperial Fund Mortgage Trust, Series 2021-NQM3, Class A1, 1.595%, 11/25/2056<sup>2,8</sup> | 878352 | 747799 |
| &nbsp;&nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust Series 2014-2, Class 1A1, 3.00%, 6/25/2029<sup>2,8</sup> | 64303 | 63020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-2, Class A3, 3.50%, 5/25/2047<sup>2,8</sup> | 88181 | 77587 |
| &nbsp;&nbsp;&nbsp;&nbsp;JP Morgan Seasoned Mortgage Trust, Series 2025-1, Class A3, 3.702%, 1/25/2063<sup>2,8</sup> | 1648778 | 1469420 |
| &nbsp;&nbsp;&nbsp;&nbsp;New Residential Mortgage Loan Trust Series 2014-3A, Class AFX3, 3.75%, 11/25/2054<sup>2,8</sup> | 135561 | 129709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-2A, Class A1, 3.75%, 8/25/2055<sup>2,8</sup> | 176486 | 170394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4A, Class A1, 3.75%, 11/25/2056<sup>2,8</sup> | 195408 | 186232 |
| &nbsp;&nbsp;&nbsp;&nbsp;OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1, Class A1, 3.00%, 12/25/2051<sup>2,8</sup> | 1248088 | 1049191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM1, Class A1, 5.928%, 11/25/2063<sup>2,9</sup> | 1004153 | 1006219 |
| &nbsp;&nbsp;&nbsp;&nbsp;PCG LLC, Series 2023-1, (1 mo. U.S. Secured Overnight Financing Rate + 6.000%), 10.352%, 7/25/2029 (Acquired 07/24/2023, cost $154,190)<sup>3,7</sup> | 154190 | 154173 |
| &nbsp;&nbsp;&nbsp;&nbsp;PMT Loan Trust, Series 2013-J1, Class A9, 3.50%, 9/25/2043<sup>2,8</sup> | 780667 | 717074 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provident Funding Mortgage Trust Series 2021-2, Class A2A, 2.00%, 4/25/2051<sup>2,8</sup> | 930531 | 793865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1, Class A1, 2.50%, 8/25/2051<sup>2,8</sup> | 1663824 | 1334265 |
| &nbsp;&nbsp;&nbsp;&nbsp;RCKT Mortgage Trust, Series 2021-6, Class A1, 2.50%, 12/25/2051<sup>2,8</sup> | 1668958 | 1341195 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust Series 2013-2, Class A, 1.874%, 2/25/2043<sup>8</sup> | 185275 | 159299 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) | **COMMERCIAL MORTGAGE-BACKED SECURITIES** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-6, Class A2, 3.00%, 5/25/2043<sup>8</sup> |  | 389605 | $348831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-7, Class A2, 3.00%, 6/25/2043<sup>8</sup> |  | 84307 | 75501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-8, Class A1, 3.00%, 6/25/2043<sup>8</sup> |  | 102534 | 92105 |
| &nbsp;&nbsp;&nbsp;&nbsp;Starwood Retail Property Trust, Series 2014-STAR, Class A, (Prime Rate + 0.000%), 7.50%, 11/15/2027<sup>2,7</sup> |  | 1103101 | 589804 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sutherland Commercial Mortgage Trust, Series 2019-SBC8, Class A, 2.86%, 4/25/2041<sup>2,8</sup> |  | 113398 | 107688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Towd Point Mortgage Trust, Series 2019- HY1, Class A1, (1 mo. U.S. Secured Overnight Financing Rate + 1.114%), 5.467%, 10/25/2048<sup>2,7</sup> |  | 175471 | 175666 |
| &nbsp;&nbsp;&nbsp;&nbsp;WinWater Mortgage Loan Trust, Series 2015-1, Class A1, 3.50%, 1/20/2045<sup>2,8</sup> |  | 40997 | 37961 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $24,127,157) |  |  | **21554640** |
| **FOREIGN GOVERNMENT BONDS - 0.5%** | **FOREIGN GOVERNMENT BONDS - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Eagle Funding Luxco S.A.R.L (Mexico), 5.50%, 8/17/2030<sup>2</sup> |  | 1305000 | 1313737 |
| &nbsp;&nbsp;&nbsp;&nbsp;Japan Government Two Year Bond, Series 456, (Japan), 0.10%, 1/1/2026 | JPY | 210000000 | 1390142 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mexican Bonos, Series M, (Mexico), 7.75%, 5/29/2031 | MXN | 972000 | 48999 |
| **TOTAL FOREIGN GOVERNMENT BONDS** <br> (Identified Cost $2,793,357) |  |  | **2752878** |
| **MUNICIPAL BONDS - 0.0%##** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;South Carolina Public Service Authority, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B, Revenue Bond, 2.329%, 12/1/2028 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $230,000) |  | 230000 | **215264** |
| **U.S. GOVERNMENT AGENCIES - 6.4%** |  |  |  |
| **Mortgage-Backed Securities - 6.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA3463, UMBS, 4.00%, 9/1/2033 |  | 138534 | 136710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA1834, UMBS, 4.50%, 2/1/2034 |  | 206967 | 206027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA1903, UMBS, 4.50%, 5/1/2034 |  | 90074 | 89665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #889576, UMBS, 6.00%, 4/1/2038 |  | 83184 | 87038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #889579, UMBS, 6.00%, 5/1/2038 |  | 67509 | 70637 |

---

**5**

**Investment Portfolio - July 31, 2025**

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;PRO-BLEND<sup>®</sup> EXTENDED TERM SERIES | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE |
| **U.S. GOVERNMENT AGENCIES** (continued) |  |  |
| **Mortgage-Backed Securities** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA3412, UMBS, 3.50%, 7/1/2038 | 219161 | $208849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #995196, UMBS, 6.00%, 7/1/2038 | 3898 | 4069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AD0207, UMBS, 6.00%, 10/1/2038 | 217156 | 227217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AD0220, UMBS, 6.00%, 10/1/2038 | 6877 | 7179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA0258, UMBS, 4.50%, 12/1/2039 | 149557 | 147838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AL1595, UMBS, 6.00%, 1/1/2040 | 77525 | 81117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AL0152, UMBS, 6.00%, 6/1/2040 | 163858 | 171450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4203, UMBS, 2.50%, 12/1/2040 | 1642466 | 1457952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AL0241, UMBS, 4.00%, 4/1/2041 | 277368 | 266979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AI5172, UMBS, 4.00%, 8/1/2041 | 165395 | 158964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AL1410, UMBS, 4.50%, 12/1/2041 | 293028 | 288539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4687, UMBS, 4.00%, 6/1/2042 | 1949798 | 1860735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4934, UMBS, 5.00%, 2/1/2043 | 2659630 | 2655153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AL7729, UMBS, 4.00%, 6/1/2043 | 149494 | 143682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AX5234, UMBS, 4.50%, 11/1/2044 | 173164 | 169067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AS4103, UMBS, 4.50%, 12/1/2044 | 236290 | 230710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #BC6764, UMBS, 3.50%, 4/1/2046 | 118020 | 107859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #BD6997, UMBS, 4.00%, 10/1/2046 | 78872 | 74306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #BE7845, UMBS, 4.50%, 2/1/2047 | 89784 | 87010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #AL8674, 5.628%, 1/1/2049 | 518631 | 535036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS1179, UMBS, 3.50%, 12/1/2049 | 1957651 | 1781939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS9332, UMBS, 3.00%, 3/1/2050 | 1190545 | 1048712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS4339, UMBS, 3.00%, 12/1/2050 | 3373467 | 2938937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS4511, UMBS, 4.00%, 8/1/2051 | 1239434 | 1160173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #FS2696, UMBS, 3.00%, 12/1/2051 | 2414967 | 2095551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4644, UMBS, 4.00%, 5/1/2052 | 2130655 | 1971359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4733, UMBS, 4.50%, 9/1/2052 | 2439646 | 2325294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4807, UMBS, 5.50%, 11/1/2052 | 939896 | 939456 |

---

---

| | | |
|:---|:---|:---|
|  | SHARES/<br> PRINCIPAL<br> AMOUNT<sup>1</sup> | VALUE |
| **U.S. GOVERNMENT AGENCIES** (continued) |  |  |
| **Mortgage-Backed Securities** (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #MA4868, UMBS, 5.00%, 1/1/2053 | 3065450 | $3000393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #C91762, 4.50%, 5/1/2034 | 127675 | 127212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #C91771, 4.50%, 6/1/2034 | 129807 | 129343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #C91780, 4.50%, 7/1/2034 | 152162 | 151653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #G03926, 6.00%, 2/1/2038 | 33616 | 35221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #G05906, 6.00%, 4/1/2040 | 31447 | 32948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #Q33778, 4.00%, 6/1/2045 | 185412 | 175743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SD8044, UMBS, 3.00%, 2/1/2050 | 2080437 | 1806335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SD1129, UMBS, 4.00%, 8/1/2051 | 2208298 | 2067079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool #SD8276, UMBS, 5.00%, 12/1/2052 | 2072664 | 2026444 |
| **TOTAL U.S. GOVERNMENT AGENCIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $34,661,875) |  | **33287580** |
| **SHORT-TERM INVESTMENT - 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.20%<sup>10</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $19,088,346) | 19088346 | **19088346** |
| **TOTAL INVESTMENTS - 100.1%** |  | **521758489** |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $484,163,923) |  |  |
| **LIABILITIES, LESS OTHER ASSETS - (0.1%)** |  | **(426877)** |
| **NET ASSETS - 100%** |  | $**521331612** |

---

**6**

**Investment Portfolio - July 31, 2025** 

(unaudited)

ADR - American Depositary Receipt

JPY - Japanese Yen

MXN - Mexican Peso

REIT - Real Estate Investment Trust

REMICS - Real Estate Mortgage Investment Conduits

UMBS - Uniform Mortgage-Backed Securities

\*Non-income producing security.

## Less than 0.1%.

<sup>1</sup>Amount is stated in USD unless otherwise noted.

<sup>2</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be liquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2025 was $52,096,802, which represented 10.0% of the Series' Net Assets.

<sup>3</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be illiquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of such securities at July 31, 2025 was $1,616,856, or 0.3% of the Series' Net Assets.

<sup>4</sup>Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of July 31, 2025.

<sup>5</sup>Security is perpetual in nature and has no stated maturity date.

<sup>6</sup>Issuer filed for bankruptcy and/or is in default of interest payments.

<sup>7</sup>Floating rate security. Rate shown is the rate in effect as of July 31, 2025.

<sup>8</sup>Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of July 31, 2025.

<sup>9</sup>Represents a step-up bond that pays initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown reflects the current coupon as of July 31, 2025.

<sup>10</sup>Rate shown is the current yield as of July 31, 2025.

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.

**Fair Value Information:**

GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value. Level 1 includes quoted prices (unadjusted) in active markets for identical financial instruments that the Series' can access at the reporting date. Level 2 includes other significant observable inputs (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads). Level 3 includes unobservable inputs (including the Valuation Designee's own assumptions in determining fair value). A financial instrument's level within the fair value hierarchy is based on the lowest level of any input both individually and in aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuation levels used for major security types as of July 31, 2025 in valuing the Series' assets or liabilities carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;DESCRIPTION | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
| &nbsp;&nbsp;&nbsp;Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | $18408578 | $18408578 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Discretionary | 39380295 | 39380295 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Staples | 7724456 | 7724456 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 48947710 | 48947710 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care | 36314167 | 36314167 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 38294186 | 38294186 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information Technology | 68816827 | 68816827 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 20327910 | 20327910 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real Estate | 7943836 | 7943836 |  |  |

---

**7**

**Investment Portfolio - July 31, 2025**

(unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;DESCRIPTION | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury and other U.S. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government agencies | $119741828 | $— | $119741828 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;States and political subdivisions |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(municipals) | 215264 |  | 215264 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate debt: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | 1465690 |  | 1465690 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Discretionary | 3418316 |  | 3418316 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 6001844 |  | 6001844 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 24962306 |  | 24962306 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 3084473 |  | 3084473 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 1992766 |  | 1992766 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real Estate | 6299590 |  | 6299590 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 3188537 |  | 3188537 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities | 21834046 |  | 21834046 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage-backed securities | 21554640 |  | 21554640 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government bonds | 2752878 |  | 2752878 |  |
| &nbsp;&nbsp;&nbsp;Short-Term Investment | 19088346 | 19088346 |  |  |
| Total assets | $521758489 | $305246311 | $216512178 | $— |

---

There were no Level 3 securities held by the Series as of October 31, 2024 or July 31, 2025.

The Investment Portfolio should be read in conjunction with the financial statements and notes to financial statements, which are included in the Series' audited annual report or unaudited semi-annual report. These reports include additional information about the Series' security valuation policies and about certain security types invested in by the Series.

**8**

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Manning & Napier Fund, Inc.

- **b. Investment Company Act file number:** 811-04087

- **c. CIK number of Registrant:** 0000751173

- **d. LEI of Registrant:** 549300B31SDCBSJSN672

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

  - **Street Address 1:** 290 Woodcliff Drive

  - **City:** Fairport

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 14450

  - **Telephone number:** 585-325-6880

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

- **a. Name of Series:** Pro-Blend Extended Term Series

- **b. EDGAR series identifier (if any):** S000003639

- **c. LEI of Series:** 549300K0509KAM860Q02

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $523782468.83

**Total Liabilities:** $2001858.27

**Net Assets:** $521780610.56

**Delayed Delivery Securities:** $1301711.40

**Cash Not Reported:** $2419369.34

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 16.06301000 | **1-Year:** 5211.28646000 | **5-Year:** 33678.37411000 | **10-Year:** 17702.86551000 | **30-Year:** 76.40743000

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

- **3-Month:** 109.32374000 | **1-Year:** 919.04542000 | **5-Year:** 2761.58156000 | **10-Year:** 358.75828000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010113 | 1.97%                | 2.80%                | -0.49%               |
| Class ID C000206456 | 2.00%                | 2.92%                | -0.44%               |
| Class ID C000010109 | 1.86%                | 2.79%                | -0.59%               |
| Class ID C000010111 | 1.91%                | 2.84%                | -0.54%               |
| Class ID C000059954 | 1.91%                | 2.89%                | -0.49%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5306176.46              | $3508525.99                                |
| Month 2  | $1491579.03              | $12382814.73                               |
| Month 3  | $3652154.09              | $-6869377.54                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALIBABA GROUP HOLDING              | Alibaba Group Holding Ltd                                 | CUSIP: 01609WAU6<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |   2430000 | PA      | $2168928.85   | 0.42%             | 2037-12-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES              | Huntington Bancshares Inc/OH                              | CUSIP: 446150AS3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1097844.28   | 0.21%             | 2030-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31417YJC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    149557 | PA      | $147837.99    | 0.03%             | 2039-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Rollins Inc                        | Rollins Inc                                               | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |     45862 | NS      | $2626516.74   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                 | Energy Transfer LP                                        | CUSIP: 29273RAR0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1573971.83   | 0.30%             | 2042-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TransUnion                         | TransUnion                                                | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     55336 | NS      | $5267433.84   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| JEFFERIES FIN GROUP INC            | Jefferies Financial Group Inc                             | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   1530000 | PA      | $1598038.92   | 0.31%             | 2034-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO           | Capital One Financial Corp                                | CUSIP: 14040HDA0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   2130000 | PA      | $2270759.74   | 0.44%             | 2034-06-08      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru     | Provident Funding Mortgage Trust 2021-2                   | CUSIP: 74388JAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    930531 | PA      | $793864.79    | 0.15%             | 2051-04-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418BDH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     90074 | PA      | $89665.02     | 0.02%             | 2034-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3140XLAM0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1239434 | PA      | $1160173.12   | 0.22%             | 2051-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                       | Synopsys Inc                                              | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      9202 | NS      | $5829190.94   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                        | Freddie Mac Pool                                          | CUSIP: 3132DV5D3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2080437 | PA      | $1806335.55   | 0.35%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Air Liquide SA                     | Air Liquide SA                                            | CUSIP: 009126202<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |    188658 | NS      | $7433125.20   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| GS Mortgage-Backed Securities      | GS Mortgage-Backed Securities Trust 2021-INV1             | CUSIP: 36263KAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1052122 | PA      | $975298.48    | 0.19%             | 2051-12-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage     | Deephaven Residential Mortgage Trust 2021-3               | CUSIP: 24381VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1851466 | PA      | $1612414.47   | 0.31%             | 2066-08-25      | Variable      | 1.19%                 | No            |                  2 | On Loan: No      |
| SIRIUSPOINT LTD                    | SiriusPoint Ltd                                           | CUSIP: 82969BAA0<br>LEI: 549300OGXFI85N3YZZ51 | Long             | DBT              | CORP              | BM        |   1030000 | PA      | $1079942.33   | 0.21%             | 2029-04-05      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP               | Bank of America Corp                                      | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1649921.21   | 0.32%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                   | CUSIP: 837151XH7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    230000 | PA      | $215263.92    | 0.04%             | 2028-12-01      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                    | United States Treasury Note/Bond                          | CUSIP: 91282CAV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13047000 | PA      | $11130721.88  | 2.13%             | 2030-11-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust      | CITIGROUP MORTGAGE LOAN TRUST 2021-INV1                   | CUSIP: 17329PAY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    755765 | PA      | $608039.84    | 0.12%             | 2051-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                | JPMorgan Chase & Co                                       | CUSIP: 46647PBJ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2690000 | PA      | $2682020.30   | 0.51%             | 2031-03-24      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Pear LLC                           | PEAR 2021-1 LLC                                           | CUSIP: 70472TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    326209 | PA      | $323881.90    | 0.06%             | 2034-01-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2019-2 B PTT            | United Airlines 2019-2 Class B Pass Through Trust         | CUSIP: 90932KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    349988 | PA      | $339104.20    | 0.06%             | 2028-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GOLDEN PEAR FUND HOLDCO            | Golden Pear Funding HoldCo LLC                            | CUSIP: 38116FAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $350003.94    | 0.07%             | 2028-03-02      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss     | New Economy Assets - Phase 1 Sponsor LLC                  | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2275000 | PA      | $1866071.71   | 0.36%             | 2061-10-20      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| West Fraser Timber Co Ltd          | West Fraser Timber Co Ltd                                 | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |     50902 | NS      | $3528017.62   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| D.R. HORTON INC                    | DR Horton Inc                                             | CUSIP: 23331ABT5<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | DBT              | CORP              | US        |    970000 | PA      | $975300.58    | 0.19%             | 2030-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage Inc            | Extra Space Storage Inc                                   | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17912 | NS      | $2406656.32   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Wimpey PLC                  | Taylor Wimpey PLC                                         | CUSIP: 877409102<br>LEI: 21380089BTRXTD8S3R66 | Long             | EC               | CORP              | GB        |    239317 | NS      | $3230779.50   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| SAFEHOLD GL HOLDINGS LLC           | Safehold GL Holdings LLC                                  | CUSIP: 785931AA4<br>LEI: 54930012UY5Z4Q8NL108 | Long             | DBT              | CORP              | US        |   1145000 | PA      | $1196607.08   | 0.23%             | 2034-04-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| US CLAIMS LIT FNDG LLC             | US Claims Litigation Funding LLC                          | CUSIP: 91735CAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $233355.84    | 0.04%             | 2028-03-17      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities      | GS Mortgage-Backed Securities Trust 2021-PJ6              | CUSIP: 36262LAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    760669 | PA      | $673186.56    | 0.13%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| ACG HOLDCO 1 LTD                   | ACG Holdco 1 Ltd                                          | CUSIP: 000000000<br>LEI: 9845008FS09985054W54 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $536882.19    | 0.10%             | 2029-01-13      | Fixed         | 14.75%                | No            |                  2 | On Loan: No      |
| MASSMUTUAL GLOBAL FUNDIN           | MassMutual Global Funding II                              | CUSIP: 57629W5B2<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |    600000 | PA      | $608122.56    | 0.12%             | 2029-01-17      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Ferrari NV                         | Ferrari NV                                                | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | IT        |     11168 | NS      | $4951779.52   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3138Y6Y81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    173164 | PA      | $169067.34    | 0.03%             | 2044-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DEPOSITORY TRUST & CLEAR           | Depository Trust & Clearing Corp/The                      | CUSIP: 249670AB6<br>LEI: MLDY5N6PZ58ZE60QU102 | Long             | DBT              | CORP              | US        |    500000 | PA      | $484279.49    | 0.09%             | N/A             | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Brean Asset Backed Securities      | Brean Asset Backed Securities Trust 2021-RM2              | CUSIP: 10638MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1043823 | PA      | $1003480.23   | 0.19%             | 2061-10-25      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| PCG LLC                            | PCG 2023-1 LLC                                            | CUSIP: 70461JAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    154190 | PA      | $154172.92    | 0.03%             | 2029-07-25      | Floating      | 10.35%                | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL           | Eagle Funding Luxco Sarl                                  | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |   1305000 | PA      | $1313737.43   | 0.25%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae REMICS                                         | CUSIP: 3136BJMZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    761158 | PA      | $642756.10    | 0.12%             | 2050-10-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Cogent IPv4 LLC                    | Cogent Ipv4 LLC                                           | CUSIP: 19240JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    830000 | PA      | $868598.65    | 0.17%             | 2054-05-25      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| CSX Corp                           | CSX Corp                                                  | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |     73399 | NS      | $2608600.46   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418CZ56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    138534 | PA      | $136709.83    | 0.03%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Finance of America Structured      | Finance of America Structured Securities Trust 2022-S6    | CUSIP: 31740XAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    996390 | PA      | $986311.14    | 0.19%             | 2061-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Starwood Retail Property Trust     | Starwood Retail Property Trust 2014-STAR                  | CUSIP: 85571XAA5<br>LEI: 5493007115G809OI4R97 | Long             | ABS-MBS          | CORP              | US        |   1103101 | PA      | $589803.95    | 0.11%             | 2027-11-15      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust          | Nelnet Student Loan Trust 2012-3                          | CUSIP: 64032XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    104740 | PA      | $104077.77    | 0.02%             | 2040-03-26      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                        | Freddie Mac Pool                                          | CUSIP: 3132DNHE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2208298 | PA      | $2067078.62   | 0.40%             | 2051-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                 | Meta Platforms Inc                                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     13110 | NS      | $10139798.40  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MET LIFE GLOB FUNDING I            | Metropolitan Life Global Funding I                        | CUSIP: 59217GFR5<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |    600000 | PA      | $609910.65    | 0.12%             | 2029-01-08      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| OPEN INFRA US ASSETS AB            | Open Infra US Assets AB                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | SE        |    600000 | PA      | $580491.89    | 0.11%             | 2027-02-22      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3140XKZD5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3373467 | PA      | $2938937.50   | 0.56%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust           | JP Morgan Mortgage Trust 2014-2                           | CUSIP: 46641YAA1<br>LEI: 549300BV8AJIRLDGMR51 | Long             | ABS-MBS          | CORP              | US        |     64303 | PA      | $63019.77     | 0.01%             | 2029-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management        | RCKT Mortgage Trust 2021-6                                | CUSIP: 74939KAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1668958 | PA      | $1341194.85   | 0.26%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP            | Simon Property Group LP                                   | CUSIP: 828807DT1<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1287368.81   | 0.25%             | 2032-02-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                    | United States Treasury Note/Bond                          | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16081000 | PA      | $15980493.75  | 3.06%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                       | Alphabet Inc                                              | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     43089 | NS      | $8268779.10   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| DREYFUS GOVERNMENT CASH MANAGEMENT | DREYFUS GOVERN CASH MGMT-I                                | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |  16657890 | NS      | $16657889.69  | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| COLT Funding LLC                   | COLT 2021-4 Mortgage Loan Trust                           | CUSIP: 19688GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2059565 | PA      | $1722723.06   | 0.33%             | 2066-10-25      | Variable      | 1.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418EF54<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1949798 | PA      | $1860735.01   | 0.36%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Visa Inc                           | Visa Inc                                                  | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     19604 | NS      | $6772593.88   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| IIP OPERATING PARTNER              | IIP Operating Partnership LP                              | CUSIP: 44988FAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $683592.77    | 0.13%             | 2026-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust             | SLM Student Loan Trust 2012-7                             | CUSIP: 78447KAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2165298 | PA      | $2102316.46   | 0.40%             | 2026-05-26      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| CBRE Group Inc                     | CBRE Group Inc                                            | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     35554 | NS      | $5537179.96   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3140XRLN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1190545 | PA      | $1048711.99   | 0.20%             | 2050-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TJX Cos Inc/The                    | TJX Cos Inc/The                                           | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     21306 | NS      | $2653236.18   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN (2 YEAR ISSUE)               | Japan Government Two Year Bond                            | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        | 210000000 | PA      | $1390141.45   | 0.27%             | 2026-01-01      | Fixed         | 0.10%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC            | CF Hippolyta Issuer LLC                                   | CUSIP: 12530MAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    831993 | PA      | $713647.07    | 0.14%             | 2060-07-15      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| TSMC                               | Taiwan Semiconductor Manufacturing Co Ltd                 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     21681 | NS      | $5238563.22   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Halma PLC                          | Halma PLC                                                 | CUSIP: 40637C308<br>LEI: 2138007FRGLUR9KGBT40 | Long             | EC               | CORP              | GB        |     29982 | NS      | $2614130.58   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                   | Coca-Cola Co/The                                          | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    113779 | NS      | $7724456.31   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| KINDER MORGAN INC                  | Kinder Morgan Inc                                         | CUSIP: 49456BAV3<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    780000 | PA      | $767069.19    | 0.15%             | 2033-02-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust       | WinWater Mortgage Loan Trust 2015-1                       | CUSIP: 97652TAA1<br>LEI: 5493006H0W2XGUBIBK91 | Long             | ABS-MBS          | CORP              | US        |     40997 | PA      | $37961.17     | 0.01%             | 2045-01-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT            | Mexican Bonos                                             | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    972000 | PA      | $48999.45     | 0.01%             | 2031-05-29      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A     | Government National Mortgage Association                  | CUSIP: 38379RRX3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    181564 | PA      | $166485.72    | 0.03%             | 2056-12-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Oxford Finance Credit Fund III     | Oxford Finance Credit Fund III 2024-A LP                  | CUSIP: 69145DAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    220000 | PA      | $222028.16    | 0.04%             | 2032-01-14      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                     | Salesforce Inc                                            | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      9942 | NS      | $2568316.86   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418EKV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    939896 | PA      | $939456.27    | 0.18%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc                         | Zoetis Inc                                                | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     15720 | NS      | $2291818.80   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                        | Freddie Mac Gold Pool                                     | CUSIP: 3128P75X7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    127675 | PA      | $127212.43    | 0.02%             | 2034-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC            | New Fortress Energy Inc                                   | CUSIP: 644393AC4<br>LEI: 254900EICTYTCHA5X705 | Long             | DBT              | CORP              | US        |    560000 | PA      | $130681.34    | 0.03%             | 2029-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418EES5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2130655 | PA      | $1971358.96   | 0.38%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3138EQST0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    149494 | PA      | $143681.54    | 0.03%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Inc                      | Blackrock Inc                                             | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      3522 | NS      | $3895367.22   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3140FTWF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     89784 | PA      | $87009.73     | 0.02%             | 2047-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust          | Towd Point Mortgage Trust 2019-HY1                        | CUSIP: 89177EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175471 | PA      | $175665.70    | 0.03%             | 2048-10-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Chipotle Mexican Grill Inc         | Chipotle Mexican Grill Inc                                | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105920 | NS      | $4541849.60   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Hotwire Funding LLC                | Hotwire Funding LLC                                       | CUSIP: 44148HAA1<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |   2200000 | PA      | $2209117.75   | 0.42%             | 2053-05-20      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| Oxford Finance Funding Trust       | Oxford Finance Funding 2022-1 LLC                         | CUSIP: 69145BAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1106339 | PA      | $1098386.95   | 0.21%             | 2030-02-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Aligned Data Centers Issuer LL     | Aligned Data Centers Issuer LLC                           | CUSIP: 01627AAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1740777.94   | 0.33%             | 2046-08-15      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG           | New York Life Global Funding                              | CUSIP: 64952WFF5<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |    520000 | PA      | $525693.12    | 0.10%             | 2029-01-29      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3140FEX33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     78872 | PA      | $74306.00     | 0.01%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3138EHR87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    293028 | PA      | $288539.42    | 0.06%             | 2041-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust             | Sequoia Mortgage Trust 2013-6                             | CUSIP: 81745BAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    389605 | PA      | $348830.68    | 0.07%             | 2043-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust       | CSMC Trust 2013-TH1                                       | CUSIP: 22944PAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     86185 | PA      | $75198.99     | 0.01%             | 2043-02-25      | Variable      | 2.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                        | Freddie Mac Gold Pool                                     | CUSIP: 3128M73P9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31447 | PA      | $32947.79     | 0.01%             | 2040-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                   | MercadoLibre Inc                                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |      1023 | NS      | $2428489.47   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3138EHXZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     77525 | PA      | $81117.35     | 0.02%             | 2040-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer, LLC             | Flexential Issuer 2021-1                                  | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2150000 | PA      | $2075946.88   | 0.40%             | 2051-11-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                        | KeyBank NA/Cleveland OH                                   | CUSIP: 49327M3F9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    950000 | PA      | $976599.24    | 0.19%             | 2027-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Atlassian Corp                     | Atlassian Corp                                            | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | AU        |     27710 | NS      | $5314223.80   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLO Issuer, LLC                   | ALLO Issuer LLC                                           | CUSIP: 01983KAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1450000 | PA      | $1465648.76   | 0.28%             | 2053-06-20      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                      | HDFC Bank Ltd                                             | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     71578 | NS      | $5495043.06   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3138AJXA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    165395 | PA      | $158964.01    | 0.03%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nasdaq Inc                         | Nasdaq Inc                                                | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |     27719 | NS      | $2667122.18   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                     | Amazon.com Inc                                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     48630 | NS      | $11384769.30  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP                | Fifth Third Bancorp                                       | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1091426.22   | 0.21%             | 2028-10-27      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| HEICO Corp                         | HEICO Corp                                                | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |     16738 | NS      | $4319910.42   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc             | UnitedHealth Group Inc                                    | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     25050 | NS      | $6251478.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Fund LLC                  | Imperial Fund Mortgage Trust 2021-NQM3                    | CUSIP: 452762AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    878352 | PA      | $747799.12    | 0.14%             | 2056-11-25      | Variable      | 1.59%                 | No            |                  2 | On Loan: No      |
| CITIZENS BANK NA/RI                | Citizens Bank NA/Providence RI                            | CUSIP: 75524KPG3<br>LEI: DRMSV1Q0EKMEXLAU1P80 | Long             | DBT              | CORP              | US        |    990000 | PA      | $989321.27    | 0.19%             | 2028-08-09      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| Oxford Finance Funding Trust       | Oxford Finance Funding Trust 2023-1                       | CUSIP: 69145CAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2229489 | PA      | $2237104.23   | 0.43%             | 2031-02-15      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                        | Freddie Mac Gold Pool                                     | CUSIP: 3128P76R9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    152162 | PA      | $151652.68    | 0.03%             | 2034-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US BANCORP                         | US Bancorp                                                | CUSIP: 91159HJK7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1607829.60   | 0.31%             | 2029-02-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY              | Wells Fargo & Co                                          | CUSIP: 95000U3L5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1590310.41   | 0.30%             | 2028-04-22      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3140F2QS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    118020 | PA      | $107858.59    | 0.02%             | 2046-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                | JPMorgan Chase & Co                                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      9690 | NS      | $2870565.60   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418MGR7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    217156 | PA      | $227216.98    | 0.04%             | 2038-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Canadian National Railway Co       | Canadian National Railway Co                              | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |     24794 | NS      | $2316999.30   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Stack Infrastructure Issuer LL     | Stack Infrastructure Issuer LLC                           | CUSIP: 85236KAE2<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1466353.19   | 0.28%             | 2046-03-26      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| BNSF FUNDING TRUST I               | BNSF Funding Trust I                                      | CUSIP: 05567SAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    490000 | PA      | $491613.51    | 0.09%             | 2055-12-15      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418CYJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    219161 | PA      | $208848.99    | 0.04%             | 2038-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALEXANDER FUND TRUST II            | Alexander Funding Trust II                                | CUSIP: 014916AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    990000 | PA      | $1053929.55   | 0.20%             | 2028-07-31      | Fixed         | 7.47%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                    | United States Treasury Note/Bond                          | CUSIP: 912810RX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14705000 | PA      | $10883997.66  | 2.09%             | 2047-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ServiceNow Inc                     | ServiceNow Inc                                            | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      5453 | NS      | $5142833.36   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                        | Freddie Mac REMICS                                        | CUSIP: 3137H5U88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1599547 | PA      | $1379116.83   | 0.26%             | 2049-06-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co/The            | Sherwin-Williams Co/The                                   | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      7589 | NS      | $2511048.32   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                        | Freddie Mac Gold Pool                                     | CUSIP: 3132QQFU1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    185412 | PA      | $175742.88    | 0.03%             | 2045-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Infineon Technologies AG           | Infineon Technologies AG                                  | CUSIP: 45662N103<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |    103119 | NS      | $4054639.08   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Onslow Bay Financial LLC           | OBX 2024-NQM1 Trust                                       | CUSIP: 67448LAA0<br>LEI: 254900UI1468MQ7I8472 | Long             | ABS-MBS          | CORP              | US        |   1004153 | PA      | $1006219.15   | 0.19%             | 2063-11-25      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan      | New Residential Mortgage Loan Trust 2014-3                | CUSIP: 64829DAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    135561 | PA      | $129708.93    | 0.02%             | 2054-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Pear LLC                           | PEAR 2023-1 LLC                                           | CUSIP: 70473AAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1248587 | PA      | $1269065.56   | 0.24%             | 2035-07-15      | Fixed         | 7.42%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31416BRR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3898 | PA      | $4069.26      | 0.00%             | 2038-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PALOMINO FUNDING TRUST I           | Palomino Funding Trust I                                  | CUSIP: 69754AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2020000 | PA      | $2134607.46   | 0.41%             | 2028-05-17      | Fixed         | 7.23%                 | No            |                  2 | On Loan: No      |
| CIM Trust                          | CIM Trust 2019-INV1                                       | CUSIP: 12555DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20588 | PA      | $19428.78     | 0.00%             | 2049-02-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA           | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1130000 | PA      | $1075486.09   | 0.21%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                    | United States Treasury Note/Bond                          | CUSIP: 91282CDJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25398000 | PA      | $21598221.09  | 4.14%             | 2031-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                    | AstraZeneca PLC                                           | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     70362 | NS      | $5142758.58   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                   | Roche Holding AG                                          | CUSIP: 771195104<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |    125066 | NS      | $4866318.06   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands     | NU Holdings Ltd/Cayman Islands                            | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | BR        |    208652 | NS      | $2549727.44   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                        | NVIDIA Corp                                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     30061 | NS      | $5346950.07   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BORR IHC LTD / BORR FIN            | Borr IHC Ltd / Borr Finance LLC                           | CUSIP: 100018AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    471829 | PA      | $452126.09    | 0.09%             | 2028-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| JP Morgan Seasoned Mortgage Tr     | JP Morgan Seasoned Mortgage Trust Series 2025-1           | CUSIP: 46659PAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1648778 | PA      | $1469420.44   | 0.28%             | 2063-01-25      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                 | Energy Transfer LP                                        | CUSIP: 226373AT5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1045984.48   | 0.20%             | 2031-02-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust             | Sequoia Mortgage Trust 2013-2                             | CUSIP: 81745MAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    185275 | PA      | $159299.15    | 0.03%             | 2043-02-25      | Variable      | 1.87%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust             | Sequoia Mortgage Trust 2013-8                             | CUSIP: 81745EAA7<br>LEI: 549300EU86QZR1NB5U93 | Long             | ABS-MBS          | CORP              | US        |    102534 | PA      | $92105.60     | 0.02%             | 2043-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Sociedad Quimica y Minera de C     | Sociedad Quimica y Minera de Chile SA                     | CUSIP: 833635105<br>LEI: TJ88LXZZW5PWIN93ZC81 | Long             | EC               | CORP              | CL        |    127769 | NS      | $4695510.75   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ROSS STORES INC                    | Ross Stores Inc                                           | CUSIP: 778296AG8<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | DBT              | CORP              | US        |    320000 | PA      | $274086.27    | 0.05%             | 2031-04-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                        | Freddie Mac Gold Pool                                     | CUSIP: 3128P76G3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    129807 | PA      | $129343.16    | 0.02%             | 2034-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Mastercard Inc                     | Mastercard Inc                                            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     16705 | NS      | $9462881.35   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3138EGHT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    277368 | PA      | $266978.64    | 0.05%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418DU59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1642466 | PA      | $1457951.98   | 0.28%             | 2040-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc       | Thermo Fisher Scientific Inc                              | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     10930 | NS      | $5111742.40   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOGE PETROLEUM AND GAS           | Brooge Petroleum and Gas Investment Co FZE                | CUSIP: 000000000<br>LEI: 213800T6YBVV45KTOC07 | Long             | DBT              | CORP              | AE        |    500163 | PA      | $450156.94    | 0.09%             | 2025-09-24      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418EHK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2439646 | PA      | $2325294.49   | 0.45%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust       | CSMC Trust 2013-IVR3                                      | CUSIP: 12646XAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    141572 | PA      | $125631.26    | 0.02%             | 2043-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31410KJY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     67509 | PA      | $70636.78     | 0.01%             | 2038-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan      | New Residential Mortgage Loan Trust 2016-4                | CUSIP: 64829LAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    195408 | PA      | $186231.87    | 0.04%             | 2056-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3138EGE26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    163858 | PA      | $171449.78    | 0.03%             | 2040-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Moody's Corp                       | Moody's Corp                                              | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     11085 | NS      | $5716867.05   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                      | Citigroup Inc                                             | CUSIP: 172967NA5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1624541.27   | 0.31%             | 2027-06-09      | Fixed         | 1.46%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust       | CSMC Trust 2014-IVR3                                      | CUSIP: 12648TAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40716 | PA      | $37843.77     | 0.01%             | 2044-07-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                 | Union Pacific Corp                                        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     10881 | NS      | $2415255.57   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                    | United States Treasury Note/Bond                          | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  22310000 | PA      | $16063200.00  | 3.08%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae REMICS                                         | CUSIP: 3136B1YD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8641 | PA      | $8532.67      | 0.00%             | 2047-07-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3140XH7J0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2414967 | PA      | $2095550.80   | 0.40%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418EMS6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3065450 | PA      | $3000392.58   | 0.58%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Intuitive Surgical Inc             | Intuitive Surgical Inc                                    | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     10224 | NS      | $4918664.16   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Onslow Bay Financial LLC           | OBX 2022-INV1 Trust                                       | CUSIP: 67115NAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1248088 | PA      | $1049191.20   | 0.20%             | 2051-12-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                | Ashtead Capital Inc                                       | CUSIP: 045054AJ2<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1049185.76   | 0.20%             | 2028-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities      | GS Mortgage-Backed Securities Trust 2021-PJ9              | CUSIP: 36263CAH2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    782441 | PA      | $691193.79    | 0.13%             | 2052-02-26      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3140XGJZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1957651 | PA      | $1781939.33   | 0.34%             | 2049-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                     | PMT Loan Trust 2013-J1                                    | CUSIP: 693456AW5<br>LEI: 549300QFMQR379ND0354 | Long             | ABS-MBS          | CORP              | US        |    780667 | PA      | $717074.00    | 0.14%             | 2043-09-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN              | Icahn Enterprises LP / Icahn Enterprises Finance Corp     | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $556941.56    | 0.11%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31410KJV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     83184 | PA      | $87037.73     | 0.02%             | 2038-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORTHWEST ACQ/DOMINION             | Northwest Acquisitions ULC / Dominion Finco Inc           | CUSIP: 66727WAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    653000 | PA      | $6.53         | 0.00%             | 2022-11-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418MG63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6877 | PA      | $7179.31      | 0.00%             | 2038-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Albemarle Corp                     | Albemarle Corp                                            | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |     31838 | NS      | $2160208.30   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CENOVUS ENERGY INC                 | Cenovus Energy Inc                                        | CUSIP: 15135UAF6<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |   1480000 | PA      | $1581854.45   | 0.30%             | 2039-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                        | Freddie Mac Gold Pool                                     | CUSIP: 3128M5VT4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     33616 | PA      | $35220.77     | 0.01%             | 2038-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange Inc      | Intercontinental Exchange Inc                             | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     15614 | NS      | $2885935.62   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Mortgage Trust           | JP Morgan Mortgage Trust 2017-2                           | CUSIP: 46648HAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     88181 | PA      | $77587.01     | 0.01%             | 2047-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| NEWCASTLE COAL INFRASTRU           | Newcastle Coal Infrastructure Group Pty Ltd               | CUSIP: 65106WAA3<br>LEI: 549300YAJ8XYYGW2TZ32 | Long             | DBT              | CORP              | AU        |   1477146 | PA      | $1455877.45   | 0.28%             | 2027-09-29      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Lonza Group AG                     | Lonza Group AG                                            | CUSIP: 54338V101<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |     37542 | NS      | $2618554.50   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG                   | Deutsche Post AG                                          | CUSIP: 25157Y202<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |    168592 | NS      | $7588325.92   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3138ETT89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    518631 | PA      | $535035.50    | 0.10%             | 2049-01-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 3138WDRZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    236290 | PA      | $230710.23    | 0.04%             | 2044-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SLAM 2021-1 LLC                    | Slam 2021-1 Ltd                                           | CUSIP: 78449AAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1339920 | PA      | $1250841.98   | 0.24%             | 2046-06-15      | Fixed         | 2.43%                 | No            |                  2 | On Loan: No      |
| Cadence Design Systems Inc         | Cadence Design Systems Inc                                | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     24802 | NS      | $9042065.14   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| WALT DISNEY COMPANY/THE            | Walt Disney Co/The                                        | CUSIP: 254687EH5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    780000 | PA      | $885198.26    | 0.17%             | 2037-11-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Persimmon PLC                      | Persimmon PLC                                             | CUSIP: 715318101<br>LEI: 213800XI72Y57UWN6F31 | Long             | EC               | CORP              | GB        |    106763 | NS      | $3248798.09   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Sequoia Mortgage Trust             | Sequoia Mortgage Trust 2013-7                             | CUSIP: 81745CAB9<br>LEI: 549300DFASAA48I36408 | Long             | ABS-MBS          | CORP              | US        |     84307 | PA      | $75500.89     | 0.01%             | 2043-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                    | SBA Tower Trust                                           | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1530000 | PA      | $1568710.07   | 0.30%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| PELORUS FUND REIT LLC              | Pelorus Fund REIT LLC                                     | CUSIP: 70615PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $648481.82    | 0.12%             | 2026-09-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST      | Commonbond Student Loan Trust 2019-A-GS                   | CUSIP: 20268CAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    398095 | PA      | $363564.28    | 0.07%             | 2047-01-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                        | Freddie Mac Pool                                          | CUSIP: 3132DWFR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2072664 | PA      | $2026444.24   | 0.39%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP              | Truist Financial Corp                                     | CUSIP: 89788MAE2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1770000 | PA      | $1647238.89   | 0.32%             | 2029-06-07      | Fixed         | 1.89%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp                      | Amphenol Corp                                             | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     24871 | NS      | $2649010.21   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc          | L3Harris Technologies Inc                                 | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     31921 | NS      | $8772529.22   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ALASKA AIR 2020-1 CL B             | Alaska Airlines 2020-1 Class B Pass Through Trust         | CUSIP: 01166WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     63230 | PA      | $63299.45     | 0.01%             | 2025-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418BBC9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    206967 | PA      | $206026.67    | 0.04%             | 2034-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BAE Systems PLC                    | BAE Systems PLC                                           | CUSIP: 05523R107<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |     24877 | NS      | $2378614.36   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG                 | Deutsche Boerse AG                                        | CUSIP: 251542106<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |     80440 | NS      | $2323107.20   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings      | Clearwater Analytics Holdings Inc                         | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    113527 | NS      | $2300057.02   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES             | PNC Financial Services Group Inc/The                      | CUSIP: 693475CD5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1688204.83   | 0.32%             | 2031-05-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Sutherland Commercial Mortgage     | Sutherland Commercial Mortgage Trust 2019-SBC8            | CUSIP: 86935CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    113398 | PA      | $107688.16    | 0.02%             | 2041-04-25      | Variable      | 2.86%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                         | Fannie Mae Pool                                           | CUSIP: 31418EPU8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2659630 | PA      | $2655153.02   | 0.51%             | 2043-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                     | Microsoft Corp                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     25665 | NS      | $13692277.50  | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Pear LLC                           | Pear 2024-1 LLC                                           | CUSIP: 704933AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    452196 | PA      | $454267.59    | 0.09%             | 2036-02-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Hermes International SCA           | Hermes International SCA                                  | CUSIP: 42751Q105<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |     28292 | NS      | $6940593.44   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                        | Workday Inc                                               | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |     21905 | NS      | $5024568.90   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA TOWER TRUST                    | SBA Tower Trust                                           | CUSIP: 78403DBD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    920000 | PA      | $914829.32    | 0.18%             | 2029-10-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan      | New Residential Mortgage Loan Trust 2015-2                | CUSIP: 64829EAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    176486 | PA      | $170393.70    | 0.03%             | 2055-08-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2018-1 B PTT            | United Airlines 2018-1 Class B Pass Through Trust         | CUSIP: 90932NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67044 | PA      | $65783.85     | 0.01%             | 2026-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru     | Provident Funding Mortgage Trust 2021-INV1                | CUSIP: 74387VAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1663824 | PA      | $1334265.08   | 0.26%             | 2051-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                    | United States Treasury Note/Bond                          | CUSIP: 912810TN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13421000 | PA      | $10797613.91  | 2.07%             | 2053-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Vertex Pharmaceuticals Inc         | Vertex Pharmaceuticals Inc                                | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     11191 | NS      | $5112832.17   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                     | S&P Global Inc                                            | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      7818 | NS      | $4308499.80   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-23

**Name of Applicant:** Manning & Napier Fund, Inc.

**Signature:** Jill Peeper

**Name of Signer:** Jill Peeper

**Title:** Principal Financial Officer and Treasurer