# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-23-041268
**Filing Date:** 2023-2
**Character Count:** 68499
**Document Hash:** 8f88fe5396d556c5feb99be769728a26
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041268.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041268

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000802716
- **IRS NUMBER:** 316364605
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04852
- **FILM NUMBER:** 23671068

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 6144708000

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOCIETY FUNDS
- **DATE OF NAME CHANGE:** 19940906

## Series and Classes Contracts Data

### Victory INCORE Low Duration Bond Fund (Series ID: S000053571)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168370 | Class A      | RLDAX           |
| C000168371 | Class C      | RLDCX           |
| C000168372 | Class R      | RLDKX           |
| C000168373 | Class Y      | RSDYX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Victory Portfolios

- **b. Investment Company Act file number:** 811-04852

- **c. CIK number of Registrant:** 0000802716

- **d. LEI of Registrant:** 549300V07N3HJP1EW330

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

  - **Street Address 1:** 4900 Tiedeman Road 4th Floor

  - **City:** Brooklyn

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44144

  - **Telephone number:** 800-539-3863

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

- **a. Name of Series:** Victory INCORE Low Duration Bond Fund

- **b. EDGAR series identifier (if any):** S000053571

- **c. LEI of Series:** 549300C633ZPXTKF0S40

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $183996324.30

**Total Liabilities:** $2871229.85

**Net Assets:** $181125094.45

**Cash Not Reported:** $6798606.76

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -828.53602461 | **1-Year:** -12504.35124143 | **5-Year:** -9819.60167545 | **10-Year:** -932.32849127 | **30-Year:** -553.00347532

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

- **3-Month:** -65.78416054 | **1-Year:** -762.02353478 | **5-Year:** -1049.42934394 | **10-Year:** -488.30080231 | **30-Year:** -751.64747840

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168370 | 0.37%                | 0.92%                | -0.12%               |
| Class ID C000168371 | 0.30%                | 0.86%                | -0.09%               |
| Class ID C000168373 | 0.39%                | 0.94%                | 0.00%                |
| Class ID C000168372 | 0.33%                | 0.88%                | -0.16%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-908269.93              | $882710.58                                 |
| Month 2  | $-902218.57              | $2562675.50                                |
| Month 3  | $-369050.87              | $86795.64                                  |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                    | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| The Bank of New York Mellon Corporation                 | BANK OF NEW YORK MELLON CORP THE                   | CUSIP: 06406RBJ5<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1783000 | PA      | $1757271.31   | 0.97%             | 2026-07-24      | Fixed         | 4.41%                 | No            |                  2 | On Loan: —       |
| Federal National Mortgage Association                   | FEDERAL NATIONAL MORTGAGE ASSOCIATION              | CUSIP: 3138EGAE4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    629512 | PA      | $636567.56    | 0.35%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES, INC.                             | CONTINENTAL RESOURCES                              | CUSIP: 212015AL5<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    801000 | PA      | $798188.49    | 0.44%             | 2023-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CFCRE COMMERCIAL MORTGAGE TRUST                         | CFCRE COMMERCIAL MORTGAGE TRUST 2016 C3            | CUSIP: 12531WBB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    925000 | PA      | $881155.19    | 0.49%             | 2048-01-10      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                             | BANK OF AMERICA CORP                               | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |       655 | NS      | $759800.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                   | FANNIE MAE                                         | CUSIP: 31397QHQ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1176537 | PA      | $1167945.48   | 0.64%             | 2040-05-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                | ULTRA LONG TERM US TREASURY BOND FUTURE MAR23      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -4 | NC      | $5642.37      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST              | JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015 C3 | CUSIP: 46645JAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1938000 | PA      | $1850461.04   | 1.02%             | 2048-12-15      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC                                        | CUSIP: 3137B8Q75<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    599622 | PA      | $579908.53    | 0.32%             | 2039-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CSAIL COMMERCIAL MORTGAGE TRUST                         | CSAIL 2016 C6 COMMERCIAL MORTGAGE TRUST            | CUSIP: 12636MAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    696000 | PA      | $641100.58    | 0.35%             | 2049-01-15      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC                                        | CUSIP: 3137A0UA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    639567 | PA      | $620032.25    | 0.34%             | 2040-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| EnPro Industries, Inc.                                  | ENPRO INDUSTRIES INC                               | CUSIP: 29355XAG2<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |    725000 | PA      | $708274.25    | 0.39%             | 2026-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COMM MORTGAGE TRUST                                     | COMM 2015 CCRE25 MORTGAGE TRUST                    | CUSIP: 12593PAW2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1219000 | PA      | $1164705.67   | 0.64%             | 2048-08-10      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL PLC                              | ANGLO AMERICAN CAPITAL PLC                         | CUSIP: 034863AS9<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |   2880000 | PA      | $2785680.00   | 1.54%             | 2024-09-11      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                     | FIFTH THIRD BANCORP                                | CUSIP: 316773CZ1<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1640910.00   | 0.91%             | 2023-05-05      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FHLMC GNMA                                         | CUSIP: 3133T1PY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       400 | PA      | $397.20       | 0.00%             | 2023-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KKR & CO. INC.                                          | KKR CO INC PFD                                     | CUSIP: 48251W401<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |      6495 | NS      | $371838.75    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED AUTO CREDIT SECURITIZATION TRUST                 | UNITED AUTO CREDIT SECURITIZATION TRUST 2022 1     | CUSIP: 90944DAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    731000 | PA      | $702722.29    | 0.39%             | 2027-06-10      | Fixed         | 2.61%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                             | FEDERAL HOME LOAN MORTGAGE CORPORATION             | CUSIP: 31292K2Y2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    373353 | PA      | $377957.49    | 0.21%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                   | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015 C28     | CUSIP: 94989JAZ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    732000 | PA      | $694146.57    | 0.38%             | 2048-05-15      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| KERRY GROUP FINANCIAL SERVICES UNLIMITED COMPANY        | KERRY GROUP FIN SERVICES                           | CUSIP: 49245PAA4<br>LEI: 635400SE9OHFJ8SLDG45 | Long             | DBT              | CORP              | IE        |   2391000 | PA      | $2367400.83   | 1.31%             | 2023-04-09      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING, LLC                   | CHARTER COMMUNICATIONS OPERATING LLC CHARTER COM   | CUSIP: 161175BQ6<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    496000 | PA      | $490018.24    | 0.27%             | 2024-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORPORATION                              | AMERICAN TOWER CORP                                | CUSIP: 03027XAQ3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $989740.00    | 0.55%             | 2023-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS COMPANY                                  | GENERAL MOTORS CO                                  | CUSIP: 37045VAE0<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   1297000 | PA      | $1295780.82   | 0.72%             | 2023-10-02      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                      | ALTRIA GROUP INC                                   | CUSIP: 02209SBC6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    322000 | PA      | $315637.28    | 0.17%             | 2026-02-14      | Fixed         | 4.40%                 | No            |                  2 | On Loan: —       |
| HCA INC.                                                | HCA INC                                            | CUSIP: 404119BN8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2479000 | PA      | $2465415.08   | 1.36%             | 2024-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND          | GLDMN SCHS FIN SQ GV-FST                           | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    528624 | NS      | $528623.88    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE FINANCIAL COMPANY LLC                    | JPMORGAN CHASE FINANCIAL                           | CUSIP: 48129KAE0<br>LEI: 549300NJFDJOFYVV6789 | Long             | DBT              | CORP              | US        |    800000 | PA      | $813152.00    | 0.45%             | 2023-05-01      | Fixed         | 0.25%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                   | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015 C29     | CUSIP: 94989KAV5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1092000 | PA      | $1041424.53   | 0.57%             | 2048-06-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| CENTENE CORPORATION                                     | CENTENE CORP                                       | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    621000 | PA      | $583150.05    | 0.32%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                   | WELLS FARGO CO                                     | CUSIP: 95000U2T9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    585000 | PA      | $547712.10    | 0.30%             | 2025-05-19      | Fixed         | 0.81%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORPORATION                             | WESTERN DIGITAL CORP                               | CUSIP: 958102AP0<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |    995000 | PA      | $949618.05    | 0.52%             | 2024-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE SECURITIES TRUST                            | GS MORTGAGE SECURITIES TRUST 2015 GC30             | CUSIP: 36250GAP0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1624000 | PA      | $1541515.81   | 0.85%             | 2050-05-10      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST                              | JP MORGAN MORTGAGE TRUST                           | CUSIP: 46647SBY5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    579811 | PA      | $480960.09    | 0.27%             | 2047-08-25      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| VISHAY INTERTECHNOLOGY, INC.                            | VISHAY INTERTECHNOLOGY                             | CUSIP: 928298AP3<br>LEI: 5493009O8F3QQJTCQR75 | Long             | DBT              | CORP              | US        |    225000 | PA      | $218092.50    | 0.12%             | 2025-06-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Dana Financing Luxembourg S.a r.l.                      | DANA FINANCING LUXEMBOURG SARL                     | CUSIP: 235822AB9<br>LEI: 222100DKCE3D036DQU13 | Long             | DBT              | CORP              | LU        |    772000 | PA      | $761114.80    | 0.42%             | 2025-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| EXELON CORPORATION                                      | EXELON CORP                                        | CUSIP: 30161NAN1<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    591000 | PA      | $577241.52    | 0.32%             | 2025-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MSILF Government Portfolio                              | MSILF GOVERNMENT-INST                              | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    528624 | NS      | $528623.86    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST                   | WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2021 1       | CUSIP: 96043FAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1230000 | PA      | $1178724.95   | 0.65%             | 2026-03-16      | Fixed         | 0.95%                 | Yes           |                  2 | On Loan: No      |
| BLOCK, INC.                                             | SQUARE INC                                         | CUSIP: 852234AK9<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    195000 | PA      | $147654.00    | 0.08%             | 2027-11-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| CSAIL COMMERCIAL MORTGAGE TRUST                         | CSAIL 2015 C3 COMMERCIAL MORTGAGE TRUST            | CUSIP: 12635FAT1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1280899 | PA      | $1222789.84   | 0.68%             | 2048-08-15      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                          | MORGAN STANLEY                                     | CUSIP: 6174468W2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2575000 | PA      | $2559112.25   | 1.41%             | 2024-01-25      | Fixed         | 0.53%                 | No            |                  2 | On Loan: No      |
| BARRY CALLEBAUT SERVICES N.V.                           | BARRY CALLEBAUT SERVICES NV                        | CUSIP: N/A<br>LEI: 213800R1F1EJYM4ICO85       | Long             | DBT              | CORP              | BE        |   2346000 | PA      | $2329507.62   | 1.29%             | 2023-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| KOHL'S CORPORATION                                      | KOHL S CORP                                        | CUSIP: 500255AU8<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |   1194000 | PA      | $1119160.08   | 0.62%             | 2025-07-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST                              | JP MORGAN MORTGAGE TRUST                           | CUSIP: 46643KAW1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1086285 | PA      | $1023804.05   | 0.57%             | 2029-10-25      | Variable      | 2.79%                 | Yes           |                  2 | On Loan: No      |
| KITE REALTY GROUP, L.P.                                 | KITE REALTY GROUP LP                               | CUSIP: 49803XAB9<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |    435000 | PA      | $401979.15    | 0.22%             | 2027-04-01      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| CDX NORTH AMERICA HIGH YIELD INDEX                      | CDX NORTH AMERICA HIGH YIELD INDEX                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        | -11000000 | OU      | $74587.45     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| CSAIL COMMERCIAL MORTGAGE TRUST                         | CSAIL 2015 C4 COMMERCIAL MORTGAGE TRUST            | CUSIP: 12635RAX6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    832000 | PA      | $793238.66    | 0.44%             | 2048-11-15      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST                  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2021 3      | CUSIP: 80287EAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    915000 | PA      | $882628.17    | 0.49%             | 2027-09-15      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST                   | WESTLAKE AUTOMOBILE RECEIVABLES                    | CUSIP: 96042WAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $947452.62    | 0.52%             | 2027-03-15      | Fixed         | 3.11%                 | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA MERRILL LYNCH COMMERCIAL MORTGAGE TRUST | BANC OF AMERICA COMMERCIAL MORTGAGE TRUST 2015 UBS | CUSIP: 06054AAX7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $950400.84    | 0.52%             | 2048-09-15      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST      | MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST | CUSIP: 61766EBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2018000 | PA      | $1884143.84   | 1.04%             | 2049-05-15      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                   | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015 C31     | CUSIP: 94989WAS6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1593000 | PA      | $1513711.53   | 0.84%             | 2048-11-15      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| GSR MORTGAGE LOAN TRUST                                 | GSR MORTGAGE LOAN TRUST                            | CUSIP: 36242DRF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15008 | PA      | $14015.60     | 0.01%             | 2020-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCES COMPANY                       | PIONEER NATURAL RESOURCE                           | CUSIP: 723787AP2<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |    565000 | PA      | $1318743.90   | 0.73%             | 2025-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INCORPORATED                              | IRON MOUNTAIN INC                                  | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    638000 | PA      | $554071.10    | 0.31%             | 2030-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY, INC                                 | MARVELL TECHNOLOGY GROUP LTD                       | CUSIP: 57385LAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    941000 | PA      | $931985.22    | 0.51%             | 2023-06-22      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FEDERAL HOME LOAN MORTGAGE CORPORATION             | CUSIP: 3128M6RR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2135 | PA      | $2292.86      | 0.00%             | 2038-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                | 10 YEAR US TREASURY NOTE FUTURE MAR23              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -22 | NC      | $12814.30     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                                       | BARCLAYS BANK PLC                                  | CUSIP: 06738G8A1<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | RF                | GB        |    270000 | PA      | $349326.00    | 0.19%             | 2025-02-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY, INC.                                    | NEXTERA ENERGY INC PFD                             | CUSIP: 65339F770<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     14070 | NS      | $713349.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP COMMERCIAL MORTGAGE TRUST                     | CITIGROUP COMMERCIAL MORTGAGE TRUST 2015 P1        | CUSIP: 17324DAU8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1662000 | PA      | $1583426.94   | 0.87%             | 2048-09-15      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| AKAMAI TECHNOLOGIES, INC.                               | AKAMAI TECHNOLOGIES INC                            | CUSIP: 00971TAJ0<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | DBT              | CORP              | US        |    375000 | PA      | $395951.25    | 0.22%             | 2025-05-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| AUSTRALIAN DOLLAR FUTURE MAR23                          | AUSTRALIAN DOLLAR FUTURE MAR23                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | AU        |       -16 | NC      | $8639.68      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                | U S TREASURY NOTE                                  | CUSIP: 91282CFK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18553000 | PA      | $18184838.91  | 10.04%            | 2025-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| D.R. HORTON, INC.                                       | DR HORTON INC                                      | CUSIP: 23331ABG3<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | DBT              | CORP              | US        |   3027000 | PA      | $3025183.80   | 1.67%             | 2023-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                   | WELLS FARGO CO                                     | CUSIP: 95000U2H5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2077000 | PA      | $1966898.23   | 1.09%             | 2025-10-30      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| Enel Generacion Chile S.A.                              | EMPRESA NACIONAL DE ELEC                           | CUSIP: 29246RAA1<br>LEI: 549300PVHXUFEIE6LY50 | Long             | DBT              | CORP              | CL        |    655000 | PA      | $643498.20    | 0.36%             | 2024-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                   | FEDERAL NATIONAL MORTGAGE ASSOCIATION              | CUSIP: 31416VQQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    643230 | PA      | $674629.82    | 0.37%             | 2037-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                             | BANK OF AMERICA CORP                               | CUSIP: 06051GKH1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2016000 | PA      | $1941972.48   | 1.07%             | 2028-02-04      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| EURONET WORLDWIDE, INC.                                 | EURONET WORLDWIDE INC                              | CUSIP: 298736AL3<br>LEI: YG3575C4DSHJPA5KET68 | Long             | DBT              | CORP              | US        |    730000 | PA      | $692156.80    | 0.38%             | 2049-03-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| LA BANQUE TORONTO-DOMINION                              | TORONTO DOMINION BANK THE                          | CUSIP: 89114TZR6<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1359000 | PA      | $1317917.43   | 0.73%             | 2024-03-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: —       |
| CAPITAL ONE FINANCIAL CORPORATION                       | CAPITAL ONE FINANCIAL CO                           | CUSIP: 14040HCK9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1695000 | PA      | $1623538.80   | 0.90%             | 2024-12-06      | Fixed         | 1.34%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPELINE, L.P.                      | PLAINS ALL AMER PIPELINE                           | CUSIP: 72650RBB7<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1008070.90   | 0.56%             | 2023-01-31      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                                      | SEAGATE HDD CAYMAN                                 | CUSIP: 81180WAT8<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $981790.00    | 0.54%             | 2024-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                | 5 YEAR US TREASURY NOTE FUTURE MAR23               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -41 | NC      | $4342.13      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                                       | BARCLAYS BANK PLC                                  | CUSIP: 06739GCF4<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | RF                | GB        |    230000 | PA      | $239259.80    | 0.13%             | 2025-02-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KLA CORPORATION                                         | KLA CORP                                           | CUSIP: 482480AE0<br>LEI: 549300H0BF5JCG96TJ81 | Long             | DBT              | CORP              | US        |    144000 | PA      | $143752.32    | 0.08%             | 2024-11-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| HSBC US GOVERNMENT MONEY MARKET FUND                    | HSBC US GOVT MMKT-I                                | CUSIP: 40428X107<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    528624 | NS      | $528623.88    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                                       | HSBC HOLDINGS PLC                                  | CUSIP: 404280CW7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $951480.00    | 0.53%             | 2024-11-22      | Fixed         | 1.16%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINANCIAL COMPANY, INC.                  | GENERAL MOTORS FINANCIAL CO INC                    | CUSIP: 37045XCR5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1549000 | PA      | $1544523.39   | 0.85%             | 2024-01-17      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC.                   | AMERICAN ELECTRIC POWER PFD                        | CUSIP: 02557T307<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EP               | CORP              | US        |      3530 | NS      | $182077.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICREDIT AUTOMOBILE RECEIVABLES TRUST                | AMERICREDIT AUTOMOBILE RECEIVABLES TRUST           | CUSIP: 03063FAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1815000 | PA      | $1666561.01   | 0.92%             | 2026-10-19      | Fixed         | 0.89%                 | No            |                  2 | On Loan: No      |
| JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST              | JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2016 C1 | CUSIP: 46645LAY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1321000 | PA      | $1246913.26   | 0.69%             | 2049-03-15      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORPORATION.                               | ARES CAPITAL CORP                                  | CUSIP: 04010LAW3<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    730000 | PA      | $772288.90    | 0.43%             | 2024-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC.                                          | CITIGROUP INC                                      | CUSIP: 172967MQ1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2772000 | PA      | $2621868.48   | 1.45%             | 2026-04-08      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                   | WELLS FARGO CO                                     | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |       550 | NS      | $651750.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Stellantis N.V.                                         | FIAT CHRYSLER AUTOMOBILES NV                       | CUSIP: 31562QAF4<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |   2048000 | PA      | $2044026.88   | 1.13%             | 2023-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTNERSHIP, LP                      | PIEDMONT OPERATING PARTN                           | CUSIP: 720198AC4<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              | CORP              | US        |   1629000 | PA      | $1613084.67   | 0.89%             | 2023-06-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO                   | INVESCO GVT & AGNCY-INST                           | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    528624 | NS      | $528623.88    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TYSON FOODS, INC.                                       | TYSON FOODS INC                                    | CUSIP: 902494AX1<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1151116.20   | 0.64%             | 2024-08-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST      | GM FINANCIAL SECURITIZED AUTOMOBILE RECEIVABLES TR | CUSIP: 380149AF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    886000 | PA      | $797426.18    | 0.44%             | 2027-01-19      | Fixed         | 1.28%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies B.V.                               | SENSATA TECHNOLOGIES BV                            | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    606000 | PA      | $522699.24    | 0.29%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST              | JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015 C3 | CUSIP: 46644YAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    453164 | PA      | $434363.42    | 0.24%             | 2048-08-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| WESTLAKE AUTOMOBILE RECEIVABLES TRUST                   | WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2021 2       | CUSIP: 96042RAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1223000 | PA      | $1152944.90   | 0.64%             | 2026-07-15      | Fixed         | 0.89%                 | Yes           |                  2 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LIMITED                      | CANADIAN NATURAL RESOURCES LTD                     | CUSIP: 136385AT8<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |   1180000 | PA      | $1158335.20   | 0.64%             | 2024-04-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| United States of America                                | U S TREASURY NOTE                                  | CUSIP: 91282CFQ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8500000 | PA      | $8475429.73   | 4.68%             | 2024-10-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CHASE AUTO CREDIT LINKED NOTES                          | JPMORGAN CHASE BANK NA CACLN                       | CUSIP: 48128U2M0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    474128 | PA      | $453124.86    | 0.25%             | 2028-12-26      | Fixed         | 0.89%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                   | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015 C30     | CUSIP: 94989NBE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1248000 | PA      | $1188287.14   | 0.66%             | 2058-09-15      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                     | FIFTH THIRD BANCORP                                | CUSIP: 316773CX6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    799000 | PA      | $787238.72    | 0.43%             | 2024-01-25      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP, INC.                                  | WEC ENERGY GROUP INC                               | CUSIP: 92939UAH9<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |   2870000 | PA      | $2874649.40   | 1.59%             | 2025-09-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ECOPETROL S.A.                                          | ECOPETROL SA                                       | CUSIP: 279158AC3<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    846000 | PA      | $841211.64    | 0.46%             | 2023-09-18      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FOX CORPORATION                                         | FOX CORP                                           | CUSIP: 35137LAG0<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |   1388000 | PA      | $1371399.52   | 0.76%             | 2024-01-25      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| S P500 MIC EMINI FUTURE MAR23                           | S P500 MIC EMINI FUTURE MAR23                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -168 | NC      | $109915.68    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP COMMERCIAL MORTGAGE TRUST                     | CITIGROUP COMMERCIAL MORTGAGE TRUST 2015 GC29      | CUSIP: 17323VAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    465000 | PA      | $440838.55    | 0.24%             | 2048-04-10      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH, INC.                                   | ANTHEM INC                                         | CUSIP: 94973VBG1<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    110000 | PA      | $804709.40    | 0.44%             | 2042-10-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HOLLYFRONTIER CORPORATION                               | HOLLYFRONTIER CORP                                 | CUSIP: 436106AB4<br>LEI: 549300J3U2WK73C9ZK26 | Long             | DBT              | CORP              | US        |    971000 | PA      | $940860.16    | 0.52%             | 2023-10-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                    | JPMORGAN CHASE CO                                  | CUSIP: 46647PCV6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    933000 | PA      | $877589.13    | 0.48%             | 2026-02-24      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                   | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015 P2      | CUSIP: 95000AAU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    532000 | PA      | $506066.88    | 0.28%             | 2048-12-15      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| CITIGROUP COMMERCIAL MORTGAGE TRUST                     | CITIGROUP COMMERCIAL MORTGAGE TRUST 2015 GC33      | CUSIP: 29425AAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1502000 | PA      | $1432111.85   | 0.79%             | 2058-09-10      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST                  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2021 2      | CUSIP: 80286XAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1125000 | PA      | $1092522.61   | 0.60%             | 2026-06-15      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| United States of America                                | 2 YEAR US TREASURY NOTE FUTURE MAR23               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       181 | NC      | $4557.42      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY                                      | FORD MOTOR COMPANY                                 | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    290000 | PA      | $274427.00    | 0.15%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                           | GOLDMAN SACHS GROUP INC THE                        | CUSIP: 38141GZS6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492395.00    | 0.27%             | 2028-03-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: —       |
| Federal National Mortgage Association                   | FEDERAL NATIONAL MORTGAGE ASSOCIATION              | CUSIP: 3138EHBB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    860809 | PA      | $870583.81    | 0.48%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Company      | AERCAP IRELAND CAPITAL DAC                         | CUSIP: 00774MAS4<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   1100000 | PA      | $969452.00    | 0.54%             | 2026-01-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CARMAX AUTO OWNER TRUST                                 | CARMAX AUTO OWNER TRUST 2020 4                     | CUSIP: 14316HAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    434000 | PA      | $399973.36    | 0.22%             | 2026-06-15      | Fixed         | 0.85%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                    | JPMORGAN CHASE CO                                  | CUSIP: 46647PBF2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $941350.00    | 0.52%             | 2025-10-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                    | JPMORGAN CHASE CO                                  | CUSIP: 46647PCY0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1308163.50   | 0.72%             | 2028-02-24      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| GM FINANCIAL AUTOMOBILE LEASING TRUST                   | GM FINANCIAL AUTOMOBILE LEASING TRUST              | CUSIP: 36261RAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1168000 | PA      | $1136200.37   | 0.63%             | 2025-02-20      | Fixed         | 0.70%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE SECURITIES TRUST                            | GS MORTGAGE SECURITIES TRUST 2015 GC32             | CUSIP: 36250PAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1098000 | PA      | $1046867.68   | 0.58%             | 2048-07-10      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| CADENCE DESIGN SYSTEMS, INC.                            | CADENCE DESIGN SYSTEMS INC                         | CUSIP: 127387AL2<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | DBT              | CORP              | US        |   1173000 | PA      | $1161821.31   | 0.64%             | 2024-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC                                        | CUSIP: 3137A14M2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    614526 | PA      | $597134.09    | 0.33%             | 2040-03-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ILLUMINA, INC.                                          | ILLUMINA INC                                       | CUSIP: 452327AK5<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |    530000 | PA      | $512912.80    | 0.28%             | 2023-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CFCRE COMMERCIAL MORTGAGE TRUST                         | CFCRE COMMERCIAL MORTGAGE TRUST 2016 C3            | CUSIP: 12531WBA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    494860 | PA      | $468988.27    | 0.26%             | 2048-01-10      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| CFCRE COMMERCIAL MORTGAGE TRUST                         | CFCRE COMMERCIAL MORTGAGE TRUST 2016 C4            | CUSIP: 12531YAN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    489000 | PA      | $454100.83    | 0.25%             | 2058-05-10      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| Mylan Inc.                                              | MYLAN INC                                          | CUSIP: 628530AV9<br>LEI: 30ZMPDNA1RHIBH89C294 | Long             | DBT              | CORP              | US        |   2479000 | PA      | $2476025.20   | 1.37%             | 2023-01-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                             | BANK OF AMERICA CORP                               | CUSIP: 06051GFH7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1634353.00   | 0.90%             | 2024-08-26      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORPORATION                                | STATE STREET CORP                                  | CUSIP: 857477BX0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   1907000 | PA      | $1958832.26   | 1.08%             | 2026-11-04      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORPORATION                       | CAPITAL ONE FINANCIAL CORP                         | CUSIP: 14040HBT1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    684000 | PA      | $660148.92    | 0.36%             | 2024-10-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| NCR CORPORATION                                         | NCR CORP                                           | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    642000 | PA      | $550861.68    | 0.30%             | 2028-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BROADCOM CORPORATION                                    | BROADCOM CORP                                      | CUSIP: 11134LAF6<br>LEI: KFFV4ZWM9DJH1ND3BD89 | Long             | DBT              | CORP              | US        |   2175000 | PA      | $2137829.25   | 1.18%             | 2024-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| HARLEY-DAVIDSON FINANCIAL SERVICES, INC.                | HARLEY DAVIDSON FINANCIAL SERVICES INC             | CUSIP: 41283LAS4<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |   1488000 | PA      | $1483387.20   | 0.82%             | 2023-02-15      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| COMM MORTGAGE TRUST                                     | COMM 2013 CCRE10 MORTGAGE TRUST                    | CUSIP: 12626BAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1982605.98   | 1.09%             | 2046-08-10      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES, INC.                                   | DELTA AIR LINES INC                                | CUSIP: 247361ZP6<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $1105689.75   | 0.61%             | 2023-04-19      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC                                        | CUSIP: 312916VS5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       491 | PA      | $489.11       | 0.00%             | 2023-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTANDER RETAIL AUTO LEASE TRUST                       | SANTANDER RETAIL AUTO LEASE TRUST 2021 A           | CUSIP: 80286TAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $2079442.05   | 1.15%             | 2026-03-20      | Fixed         | 1.14%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                             | FEDERAL HOME LOAN MORTGAGE CORP                    | CUSIP: 3137BGJD2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     71563 | PA      | $71128.12     | 0.04%             | 2041-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| REGENCY CENTERS, L.P.                                   | REGENCY CENTERS LP                                 | CUSIP: 75884RAU7<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              | CORP              | US        |   1194000 | PA      | $1130156.82   | 0.62%             | 2025-11-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST              | JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015 C2 | CUSIP: 46644FAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1191000 | PA      | $1131192.16   | 0.62%             | 2048-10-15      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| Hughes Satellite Systems Corporation                    | HUGHES SATELLITE SYSTEMS                           | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $513375.50    | 0.28%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CSAIL COMMERCIAL MORTGAGE TRUST                         | CSAIL 2015 C2 COMMERCIAL MORTGAGE TRUST            | CUSIP: 12634NAT5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    667000 | PA      | $630588.97    | 0.35%             | 2057-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO.                                  | SOUTHWEST AIRLINES CO                              | CUSIP: 844741BG2<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    710000 | PA      | $856224.50    | 0.47%             | 2025-05-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: —       |
| VERIZON COMMUNICATIONS INC.                             | VERIZON COMMUNICATIONS                             | CUSIP: 92343VEN0<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    354000 | PA      | $343156.98    | 0.19%             | 2025-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC.                                           | NISOURCE INC                                       | CUSIP: 65473P121<br>LEI: 549300D8GOWWH0SJB189 | Long             | EP               | CORP              | US        |      1710 | NS      | $176574.60    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTINENTAL RESOURCES, INC.                             | CONTINENTAL RESOURCES INC OK                       | CUSIP: 212015AU5<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    797000 | PA      | $691174.34    | 0.38%             | 2026-11-15      | Fixed         | 2.27%                 | Yes           |                  2 | On Loan: No      |
| BOOKING HOLDINGS INC.                                   | BOOKING HOLDINGS INC                               | CUSIP: 09857LAN8<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | DBT              | CORP              | US        |    525000 | PA      | $703652.25    | 0.39%             | 2025-05-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: —       |
| CITIGROUP COMMERCIAL MORTGAGE TRUST                     | CITIGROUP COMMERCIAL MORTGAGE TRUST 2016 P4        | CUSIP: 29429EAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1226000 | PA      | $1124708.37   | 0.62%             | 2049-07-10      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                   | FEDERAL NATIONAL MORTGAGE ASSOCIATION              | CUSIP: 3136ADEA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    131096 | PA      | $129003.60    | 0.07%             | 2039-04-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BRITISH POUND FUTURE MAR23                              | BRITISH POUND FUTURE MAR23                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | GB        |        32 | NC      | $-62800.64    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORPORATION                                     | DANAHER CORP PFD                                   | CUSIP: 235851409<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EP               | CORP              | US        |       146 | NS      | $198056.30    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| SOUTHERN COPPER CORPORATION                             | SOUTHERN COPPER CORP                               | CUSIP: 84265VAH8<br>LEI: 2549007U6NAP46Q9TU15 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $1990611.50   | 1.10%             | 2025-04-23      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP, INC.                                     | EXPEDIA GROUP INC                                  | CUSIP: 30212PBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    590000 | PA      | $512521.20    | 0.28%             | 2026-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMEREN CORPORATION                                      | AMEREN CORP                                        | CUSIP: 023608AH5<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    588000 | PA      | $561804.60    | 0.31%             | 2024-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MEXICAN PESO CURRENCY FUTURE MAR23                      | MEXICAN PESO CURRENCY FUTURE MAR23                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        56 | NC      | $14838.88     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORPORATION                       | CAPITAL ONE FINANCIAL CORP                         | CUSIP: 14040HCM5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   2052000 | PA      | $1923955.20   | 1.06%             | 2026-03-03      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE SECURITIES TRUST                            | GS MORTGAGE SECURITIES TRUST 2016 GS2              | CUSIP: 36252TAR6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1778000 | PA      | $1650259.93   | 0.91%             | 2049-05-10      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| SES SA                                                  | SES SA                                             | CUSIP: 78413HAA7<br>LEI: 5493008JPA4HYMH1HX51 | Long             | DBT              | CORP              | LU        |    503000 | PA      | $499901.52    | 0.28%             | 2023-04-04      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| EQUINIX, INC.                                           | EQUINIX INC                                        | CUSIP: 29444UBF2<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |    700000 | PA      | $634053.00    | 0.35%             | 2025-07-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES, INC.                         | UNIVERSAL HEALTH SERVICES INC                      | CUSIP: 913903AX8<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |   1387000 | PA      | $1190517.58   | 0.66%             | 2026-09-01      | Fixed         | 1.65%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST                  | SANTANDER DRIVE AUTO RECEIVABLES TRUST             | CUSIP: 80286NAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    937635 | PA      | $921343.20    | 0.51%             | 2026-02-17      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Victory Portfolios

**Signature:** Allan Shaer

**Name of Signer:** Allan Shaer

**Title:** Treasurer