# EDGAR Filing Document

**Accession Number:** 0000789281
**File Stem:** 0001193125-25-247962
**Filing Date:** 2025-10
**Character Count:** 168586
**Document Hash:** ae9923d2cb4170c56e4572318142905d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-247962.hdr.sgml**: 20251023

**ACCESSION NUMBER**: 0001193125-25-247962

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251023

**DATE AS OF CHANGE**: 20251023

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Income Securities Trust
- **CENTRAL INDEX KEY:** 0000789281

**ORGANIZATION NAME:**
- **EIN:** 251412886
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04577
- **FILM NUMBER:** 251411622

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 8003417400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED INCOME SECURITIES TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED FLOATING RATE TRUST
- **DATE OF NAME CHANGE:** 19920205

## Series and Classes Contracts Data

### Federated Hermes Capital Income Fund (Series ID: S000009073)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000024648 | Class A Shares       | CAPAX           |
| C000024650 | Class C Shares       | CAPCX           |
| C000024651 | Class F Shares       | CAPFX           |
| C000114947 | Institutional Shares | CAPSX           |
| C000130424 | Class R Shares       | CAPRX           |
| C000188217 | Class T Shares       |  |

## Nport-Ex

Federated Hermes Capital Income Fund

Portfolio of Investments

August 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Shares or** <br>**Principal** <br>**Amount**<br>|  | **Value** |
|  | COMMON STOCKS—39.5% |  |
|  | **Communication Services—3.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14944 | Alphabet, Inc., Class A | &nbsp;&nbsp; $3181727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19965 | Array Digital Infrastructure, Inc. | &nbsp;&nbsp; 1074716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 173131 | AT&T, Inc. | &nbsp;&nbsp; 5071007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32666 | Deutsche Telekom AG, Class REG | &nbsp;&nbsp; 1194735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9590 | Meta Platforms, Inc. | &nbsp;&nbsp; 7084133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56861 | Verizon Communications, Inc. | &nbsp;&nbsp; 2514962 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 20121280 |
|  | **Consumer Discretionary—2.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14277<br><sup>1</sup> <br>| Amazon.com, Inc. | &nbsp;&nbsp; 3269433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70779 | Bath & Body Works, Inc. | &nbsp;&nbsp; 2067454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40000<br><sup>1</sup> <br>| HBX Group International PLC | &nbsp;&nbsp; 347562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1969 | Home Depot, Inc. | &nbsp;&nbsp; 800930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26201 | Nike, Inc., Class B | &nbsp;&nbsp; 2027171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 113560<br><sup>1</sup> <br>| PENN Entertaintment, Inc. | &nbsp;&nbsp; 2297319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 169836 | The Wendy's Co. | &nbsp;&nbsp; 1801960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6738<br><sup>1</sup> <br>| Ulta Beauty, Inc. | &nbsp;&nbsp; 3320015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30458 | Whirlpool Corp. | &nbsp;&nbsp; 2837163 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 18769007 |
|  | **Consumer Staples—2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1931 | Costco Wholesale Corp. | &nbsp;&nbsp; 1821551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 116170 | JBS NV-A | &nbsp;&nbsp; 1883116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12673 | Philip Morris International, Inc. | &nbsp;&nbsp; 2118038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15794 | Procter & Gamble Co. | &nbsp;&nbsp; 2480290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53226 | The Coca-Cola Co. | &nbsp;&nbsp; 3672062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41273 | WalMart, Inc. | &nbsp;&nbsp; 4002655 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 15977712 |
|  | **Energy—1.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22443 | Chevron Corp. | &nbsp;&nbsp; 3604346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22946 | ConocoPhillips | &nbsp;&nbsp; 2270966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35201 | Exxon Mobil Corp. | &nbsp;&nbsp; 4023122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8000<br><sup>1</sup> <br>| Infinity Natural Resources, Inc. | &nbsp;&nbsp; 119200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14123 | TotalEnergies SE | &nbsp;&nbsp; 886346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6090 | Valero Energy Corp. | &nbsp;&nbsp; 925741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14892 | Williams Cos., Inc. | &nbsp;&nbsp; 861949 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 12691670 |
|  | **Financials—7.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10723 | American Express Co. | &nbsp;&nbsp; 3552316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14658<br><sup>1</sup> <br>| American Integrity Insurance Group, Inc. | &nbsp;&nbsp; 293013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29537 | American International Group, Inc. | &nbsp;&nbsp; 2401949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10268 | Assurant, Inc. | &nbsp;&nbsp; 2213884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87999 | Bank of America Corp. | &nbsp;&nbsp; 4465069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2145 | BlackRock, Inc. | &nbsp;&nbsp; 2417715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9016 | Capital One Financial Co. | &nbsp;&nbsp; 2048616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21754 | Charles Schwab Corp. | &nbsp;&nbsp; 2084903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68159 | Citizens Financial Group, Inc. | &nbsp;&nbsp; 3563353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11717 | Intercontinental Exchange, Inc. | &nbsp;&nbsp; 2069222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33248 | JPMorgan Chase & Co. | &nbsp;&nbsp; 10021612 |

---

**1**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Financials—continued** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11980 | KKR & Co., Inc. | &nbsp;&nbsp; $1671090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8871 | Progressive Corp., OH | &nbsp;&nbsp; 2191669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5007 | S&P Global, Inc. | &nbsp;&nbsp; 2746039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17558 | UMB Financial Corp. | &nbsp;&nbsp; 2140320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12089 | Visa, Inc., Class A | &nbsp;&nbsp; 4252668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26837 | Wells Fargo & Co. | &nbsp;&nbsp; 2205465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8612 | Willis Towers Watson PLC | &nbsp;&nbsp; 2814316 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 53153219 |
|  | **Health Care—4.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6291 | Abbott Laboratories | &nbsp;&nbsp; 834564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10373 | AbbVie, Inc. | &nbsp;&nbsp; 2182479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23512 | AstraZeneca PLC | &nbsp;&nbsp; 3758764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13708<br><sup>1</sup> <br>| Boston Scientific Corp. | &nbsp;&nbsp; 1446194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6621 | Danaher Corp. | &nbsp;&nbsp; 1362734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69940<br><sup>1</sup> <br>| Elanco Animal Health, Inc. | &nbsp;&nbsp; 1283399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4253 | Eli Lilly & Co. | &nbsp;&nbsp; 3115663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2807 | Humana, Inc. | &nbsp;&nbsp; 852374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8842 | Johnson & Johnson | &nbsp;&nbsp; 1566537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2893 | McKesson Corp. | &nbsp;&nbsp; 1986450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25828 | Medtronic PLC | &nbsp;&nbsp; 2397097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92339 | Pfizer, Inc. | &nbsp;&nbsp; 2286314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9084 | Sanofi | &nbsp;&nbsp; 902559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4528 | Thermo Fisher Scientific, Inc. | &nbsp;&nbsp; 2231036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7712 | UnitedHealth Group, Inc. | &nbsp;&nbsp; 2389717 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 28595881 |
|  | **Industrials—4.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8723<br><sup>1</sup> <br>| Builders Firstsource, Inc. | &nbsp;&nbsp; 1209706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29853 | Delta Air Lines, Inc. | &nbsp;&nbsp; 1844318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4925 | Dover Corp. | &nbsp;&nbsp; 880885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7027 | Eaton Corp. PLC | &nbsp;&nbsp; 2453407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6787 | GE Aerospace | &nbsp;&nbsp; 1867782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3158 | GE Vernova, Inc. | &nbsp;&nbsp; 1935759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24610 | Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp; 1080379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3584 | Northrop Grumman Corp. | &nbsp;&nbsp; 2114703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5725 | Parker-Hannifin Corp. | &nbsp;&nbsp; 4347279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15101 | RTX Corp. | &nbsp;&nbsp; 2395019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5134<br><sup>1</sup> <br>| Saia, Inc. | &nbsp;&nbsp; 1522026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7797<br><sup>1</sup> <br>| Siemens Energy AG | &nbsp;&nbsp; 827655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14880 | Stanley Black & Decker, Inc. | &nbsp;&nbsp; 1105435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1890 | United Rentals North America, Inc. | &nbsp;&nbsp; 1807483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12711 | Waste Management, Inc. | &nbsp;&nbsp; 2877643 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 28269479 |
|  | **Information Technology—8.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2198<br><sup>1</sup> <br>| Adobe, Inc. | &nbsp;&nbsp; 784027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10343<br><sup>1</sup> <br>| Advanced Micro Devices, Inc. | &nbsp;&nbsp; 1682082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44499 | Apple, Inc. | &nbsp;&nbsp; 10329998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8303 | Applied Materials, Inc. | &nbsp;&nbsp; 1334790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13590<br><sup>1</sup> <br>| Arista Networks, Inc. | &nbsp;&nbsp; 1855714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33181 | Broadcom, Inc. | &nbsp;&nbsp; 9867698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14290 | Dell Technologies, Inc. | &nbsp;&nbsp; 1745523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7143 | IBM Corp. | &nbsp;&nbsp; 1739249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9000<br><sup>1</sup> <br>| Innoscripta SE | &nbsp;&nbsp; 1274663 |

---

**2**

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---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Information Technology—continued** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15997 | Microchip Technology, Inc. | &nbsp;&nbsp; $1039805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23466 | Microsoft Corp. | &nbsp;&nbsp; 11889988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3802 | Motorola Solutions, Inc. | &nbsp;&nbsp; 1796293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44233 | NVIDIA Corp. | &nbsp;&nbsp; 7704504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10063<br><sup>1</sup> <br>| Qualco Group S.A. | &nbsp;&nbsp; 64924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9246 | Salesforce, Inc. | &nbsp;&nbsp; 2369287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16995 | TD SYNNEX Corp. | &nbsp;&nbsp; 2516450 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 57994995 |
|  | **Materials—1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37122 | Freeport-McMoRan, Inc. | &nbsp;&nbsp; 1648217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6684 | Linde PLC | &nbsp;&nbsp; 3196890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13107 | LyondellBasell Industries N.V. | &nbsp;&nbsp; 738580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33644<br><sup>1</sup> <br>| MP Materials Corp. | &nbsp;&nbsp; 2393434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6500 | Vulcan Materials Co. | &nbsp;&nbsp; 1892540 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 9869661 |
|  | **Real Estate—1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10844 | American Tower Corp. | &nbsp;&nbsp; 2210549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31353 | Brixmor Property Group, Inc. | &nbsp;&nbsp; 877570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2717 | Equinix, Inc. | &nbsp;&nbsp; 2136078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23678 | NNN REIT, Inc. | &nbsp;&nbsp; 1016023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13820 | ProLogis, Inc. | &nbsp;&nbsp; 1572440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114953 | RLJ Lodging Trust | &nbsp;&nbsp; 885138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6683 | Simon Property Group, Inc. | &nbsp;&nbsp; 1207351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6294 | Sun Communities, Inc. | &nbsp;&nbsp; 798520 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 10703669 |
|  | **Utilities—1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144296 | CenterPoint Energy, Inc. | &nbsp;&nbsp; 5441402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78852 | PPL Corp. | &nbsp;&nbsp; 2875733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33256 | Southern Co. | &nbsp;&nbsp; 3069529 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 11386664 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCKS <br>(IDENTIFIED COST $197,356,522)<br>| &nbsp;&nbsp; 267533237 |
|  | U.S. TREASURIES—8.3% |  |
|  | **U.S. Treasury Bond—2.6%** |  |
| $19100000 | United States Treasury Bond, 4.500%, 11/15/2054 | &nbsp;&nbsp; 17825671 |
|  | **U.S. Treasury Note—5.7%** |  |
| &nbsp;&nbsp; 3500000 | United States Treasury Note, 4.000%, 5/31/2030 | &nbsp;&nbsp; 3548854 |
| &nbsp;&nbsp; 19400000 | United States Treasury Note, 4.125%, 2/28/2027 | &nbsp;&nbsp; 19512270 |
| &nbsp;&nbsp; 15300000 | United States Treasury Note, 4.250%, 11/15/2034 | &nbsp;&nbsp; 15402798 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 38463922 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL U.S. TREASURIES <br>(IDENTIFIED COST $56,760,006)<br>| &nbsp;&nbsp;&nbsp; 56289593 |
|  | PREFERRED STOCKS—5.7% |  |
|  | **Communication Services—1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44564 | Google, Issued by JP Morgan Chase & Co., ELN, 4.000%, 2/19/26 | &nbsp;&nbsp; 9290257 |
|  | **Consumer Discretionary—1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32827 | Amazon, Issued by JP Morgan Chase & Co., ELN, 3%, 12/17/2025 | &nbsp;&nbsp; 7481930 |
|  | **Financials—1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60000 | Apollo Global Management, Inc., Conv. Pfd., 6.750% | &nbsp;&nbsp; 4302600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60000 | Ares Management Corp., Conv. Pfd., 6.750% | &nbsp;&nbsp; 3291000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31200 | KKR & Co., Inc., Conv. Pfd., Series D, 6.250% | &nbsp;&nbsp; 1701960 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 9295560 |

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**3**

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| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | PREFERRED STOCKS—continued |  |
|  | **Industrials—0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28000 | Boeing Co., Conv. Pfd., 6.000% | &nbsp;&nbsp; $2083760 |
|  | **Information Technology—0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58591 | Hewlett Packard Enterprise Co., Conv. Pfd., 7.625% | &nbsp;&nbsp; 3691819 |
|  | **Materials—0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37000 | Albemarle Corp., Conv. Pfd., 7.250% | &nbsp;&nbsp; 1460760 |
|  | **Utilities—0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129000 | NextEra Energy, Inc., Conv. Pfd., 6.926% | &nbsp;&nbsp; 5290290 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PREFERRED STOCKS <br>(IDENTIFIED COST $35,676,635)<br>| &nbsp;&nbsp;&nbsp; 38594376 |
|  | CORPORATE BONDS—1.7% |  |
|  | **Basic Industry - Metals & Mining—0.0%** |  |
| $75000 | Glencore Funding LLC, Sr. Unsecd. Note, 144A, 1.625%, 4/27/2026 | &nbsp;&nbsp; 73585 |
| &nbsp;&nbsp; 35000 | Glencore Funding LLC, Sr. Unsecd. Note, 144A, 3.375%, 9/23/2051 | &nbsp;&nbsp; 23216 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96801 |
|  | **Capital Goods - Aerospace & Defense—0.0%** |  |
| &nbsp;&nbsp; 75000 | Boeing Co., Sr. Unsecd. Note, 3.625%, 2/1/2031 | &nbsp;&nbsp; 71641 |
| &nbsp;&nbsp; 30000 | Boeing Co., Sr. Unsecd. Note, 3.950%, 8/1/2059 | &nbsp;&nbsp; 20683 |
| &nbsp;&nbsp; 30000 | Boeing Co., Sr. Unsecd. Note, 6.528%, 5/1/2034 | &nbsp;&nbsp; 32873 |
| &nbsp;&nbsp; 50000 | Boeing Co., Sr. Unsecd. Note, 6.858%, 5/1/2054 | &nbsp;&nbsp; 54889 |
| &nbsp;&nbsp; 50000 | Leidos, Inc., Sr. Unsecd. Note, Series WI, 4.375%, 5/15/2030 | &nbsp;&nbsp; 49770 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229856 |
|  | **Capital Goods - Building Materials—0.0%** |  |
| &nbsp;&nbsp; 40000 | Allegion PLC, Sr. Unsecd. Note, 3.500%, 10/1/2029 | &nbsp;&nbsp; 38741 |
|  | **Capital Goods - Diversified Manufacturing—0.0%** |  |
| &nbsp;&nbsp; 15000 | Ingersoll-Rand, Inc., Sr. Unsecd. Note, 5.450%, 6/15/2034 | &nbsp;&nbsp; 15527 |
| &nbsp;&nbsp; 15000 | Ingersoll-Rand, Inc., Sr. Unsecd. Note, 5.700%, 6/15/2054 | &nbsp;&nbsp; 14844 |
| &nbsp;&nbsp; 25000 | Valmont Industries, Inc., Sr. Unsecd. Note, 5.000%, 10/1/2044 | &nbsp;&nbsp; 22770 |
| &nbsp;&nbsp; 90000 | Valmont Industries, Inc., Sr. Unsecd. Note, 5.250%, 10/1/2054 | &nbsp;&nbsp; 80157 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133298 |
|  | **Capital Goods - Environmental—0.0%** |  |
| &nbsp;&nbsp; 100000 | Republic Services, Inc., Sr. Unsecd. Note, 4.875%, 4/1/2029 | &nbsp;&nbsp; 102594 |
| &nbsp;&nbsp; 100000 | Waste Connections, Inc., Sr. Unsecd. Note, 2.600%, 2/1/2030 | &nbsp;&nbsp; 94062 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196656 |
|  | **Communications - Cable & Satellite—0.1%** |  |
| &nbsp;&nbsp; 70000 | Charter Communications Operating, LLC/Charter Communications Operating Capital Corp., Sec. Fac. Bond, <br> 6.550%, 6/1/2034<br>| &nbsp;&nbsp; 74287 |
| &nbsp;&nbsp; 70000 | Charter Communications Operating, LLC/Charter Communications Operating Capital Corp., Term Loan - 1st Lien, <br> 5.050%, 3/30/2029<br>| &nbsp;&nbsp; 71112 |
| &nbsp;&nbsp; 200000 | Comcast Corp., Sr. Unsecd. Note, 3.300%, 2/1/2027 | &nbsp;&nbsp; 197831 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343230 |
|  | **Communications - Media & Entertainment—0.0%** |  |
| &nbsp;&nbsp; 35000 | AppLovin Corp., Sr. Unsecd. Note, 5.500%, 12/1/2034 | &nbsp;&nbsp; 35738 |
| &nbsp;&nbsp; 25000 | AppLovin Corp., Sr. Unsecd. Note, 5.950%, 12/1/2054 | &nbsp;&nbsp; 24354 |
| &nbsp;&nbsp; 50000 | Warnermedia Holdings, Inc., Sr. Unsecd. Note, 5.050%, 3/15/2042 | &nbsp;&nbsp; 33728 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93820 |
|  | **Communications - Telecom Wireless—0.1%** |  |
| &nbsp;&nbsp; 50000 | Crown Castle, Inc., Sr. Unsecd. Note, 5.200%, 2/15/2049 | &nbsp;&nbsp; 44917 |
| &nbsp;&nbsp; 60000 | T-Mobile USA, Inc., Series WI, 2.700%, 3/15/2032 | &nbsp;&nbsp; 53180 |
| &nbsp;&nbsp; 120000 | T-Mobile USA, Inc., Sr. Unsecd. Note, 5.650%, 1/15/2053 | &nbsp;&nbsp; 115011 |
| &nbsp;&nbsp; 85000 | Vodafone Group PLC, Sr. Unsecd. Note, 5.625%, 2/10/2053 | &nbsp;&nbsp; 80365 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293473 |
|  | **Communications - Telecom Wirelines—0.1%** |  |
| &nbsp;&nbsp; 190000 | AT&T, Inc., Sr. Unsecd. Note, Series WI, 5.300%, 8/15/2058 | &nbsp;&nbsp; 163495 |

---

**4**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Communications - Telecom Wirelines—continued** |  |
| $150000 | Rogers Communications, Inc., Sr. Unsecd. Note, 4.500%, 3/15/2042 | &nbsp;&nbsp; $128479 |
| &nbsp;&nbsp; 60000 | Verizon Communications, Inc., Sr. Unsecd. Note, 3.550%, 3/22/2051 | &nbsp;&nbsp; 42693 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334667 |
|  | **Consumer Cyclical - Automotive—0.0%** |  |
| &nbsp;&nbsp; 50000 | American Honda Finance Corp., Sr. Unsecd. Note, Series GMTN, 5.800%, 10/3/2025 | &nbsp;&nbsp; 50052 |
| &nbsp;&nbsp; 50000 | General Motors Co., Sr. Unsecd. Note, 5.200%, 4/1/2045 | &nbsp;&nbsp; 43529 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93581 |
|  | **Consumer Cyclical - Retailers—0.0%** |  |
| &nbsp;&nbsp; 125000 | AutoZone, Inc., Sr. Unsecd. Note, 5.400%, 7/15/2034 | &nbsp;&nbsp; 128532 |
| &nbsp;&nbsp; 110000 | Home Depot, Inc., Sr. Unsecd. Note, 2.950%, 6/15/2029 | &nbsp;&nbsp; 106052 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234584 |
|  | **Consumer Cyclical - Services—0.0%** |  |
| &nbsp;&nbsp; 75000 | Uber Technologies, Inc., Sr. Unsecd. Note, 4.300%, 1/15/2030 | &nbsp;&nbsp; 75252 |
|  | **Consumer Non-Cyclical - Food/Beverage—0.1%** |  |
| &nbsp;&nbsp; 132000 | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc., Sr. Unsecd. Note, 4.900%, 2/1/2046 | &nbsp;&nbsp; 120607 |
| &nbsp;&nbsp; 100000 | Bacardi-MartinI B.V., Sr. Unsecd. Note, 144A, 6.000%, 2/1/2035 | &nbsp;&nbsp; 102947 |
| &nbsp;&nbsp; 150000 | Coca-Cola Femsa S.A.B. de C.V., Sr. Unsecd. Note, 2.750%, 1/22/2030 | &nbsp;&nbsp; 141152 |
| &nbsp;&nbsp; 100000 | Kraft Heinz Foods Co., Sr. Unsecd. Note, 4.375%, 6/1/2046 | &nbsp;&nbsp; 79701 |
| &nbsp;&nbsp; 75000 | Mars, Inc., Sr. Unsecd. Note, 144A, 5.200%, 3/1/2035 | &nbsp;&nbsp; 75742 |
| &nbsp;&nbsp; 40000 | Mars, Inc., Sr. Unsecd. Note, 144A, 5.700%, 5/1/2055 | &nbsp;&nbsp; 39052 |
| &nbsp;&nbsp; 80000 | Smithfield Foods, Inc., Sr. Unsecd. Note, 144A, 3.000%, 10/15/2030 | &nbsp;&nbsp; 73179 |
| &nbsp;&nbsp; 85000 | The Campbell's Co., Sr. Unsecd. Note, 4.750%, 3/23/2035 | &nbsp;&nbsp; 81435 |
| &nbsp;&nbsp; 125000 | Tyson Foods, Inc., Sr. Unsecd. Note, 5.700%, 3/15/2034 | &nbsp;&nbsp; 130331 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 844146 |
|  | **Consumer Non-Cyclical - Health Care—0.0%** |  |
| &nbsp;&nbsp; 75000 | CVS Health Corp., Sr. Unsecd. Note, 5.250%, 2/21/2033 | &nbsp;&nbsp; 75902 |
| &nbsp;&nbsp; 50000 | HCA, Inc., Sr. Unsecd. Note, 5.950%, 9/15/2054 | &nbsp;&nbsp; 47954 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123856 |
|  | **Consumer Non-Cyclical - Pharmaceuticals—0.1%** |  |
| &nbsp;&nbsp; 185000 | AbbVie, Inc., Sr. Unsecd. Note, 3.200%, 11/21/2029 | &nbsp;&nbsp; 178313 |
| &nbsp;&nbsp; 35000 | Amgen, Inc., Sr. Unsecd. Note, 5.250%, 3/2/2033 | &nbsp;&nbsp; 35942 |
| &nbsp;&nbsp; 190000 | Amgen, Inc., Sr. Unsecd. Note, 5.650%, 3/2/2053 | &nbsp;&nbsp; 183898 |
| &nbsp;&nbsp; 60000 | AstraZeneca PLC, Sr. Unsecd. Note, 1.375%, 8/6/2030 | &nbsp;&nbsp; 52668 |
| &nbsp;&nbsp; 175000 | Bristol-Myers Squibb Co., Sr. Unsecd. Note, Series WI, 4.350%, 11/15/2047 | &nbsp;&nbsp; 145313 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 596134 |
|  | **Consumer Non-Cyclical - Products—0.0%** |  |
| &nbsp;&nbsp; 65000 | Church & Dwight Co., Inc., Sr. Unsecd. Note, 2.300%, 12/15/2031 | &nbsp;&nbsp; 57375 |
|  | **Consumer Non-Cyclical - Tobacco—0.1%** |  |
| &nbsp;&nbsp; 105000 | Philip Morris International, Inc., Sr. Unsecd. Note, 5.750%, 11/17/2032 | &nbsp;&nbsp; 111231 |
| &nbsp;&nbsp; 145000 | Reynolds American, Inc., Sr. Unsecd. Note, 7.000%, 8/4/2041 | &nbsp;&nbsp; 153005 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264236 |
|  | **Energy - Independent—0.0%** |  |
| &nbsp;&nbsp; 45000 | APA Corp., Sr. Unsecd. Note, 144A, 6.750%, 2/15/2055 | &nbsp;&nbsp; 42718 |
| &nbsp;&nbsp; 55000 | Ovintiv, Inc., Sr. Unsecd. Note, 7.100%, 7/15/2053 | &nbsp;&nbsp; 56904 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99622 |
|  | **Energy - Integrated—0.0%** |  |
| &nbsp;&nbsp; 50000 | Cenovus Energy, Inc., Sr. Unsecd. Note, 4.250%, 4/15/2027 | &nbsp;&nbsp; 49993 |
|  | **Energy - Midstream—0.1%** |  |
| &nbsp;&nbsp; 30000 | Boardwalk Pipeline Partners LP, Sr. Unsecd. Note, 4.800%, 5/3/2029 | &nbsp;&nbsp; 30454 |
| &nbsp;&nbsp; 125000 | Enbridge, Inc., Sr. Unsecd. Note, 5.950%, 4/5/2054 | &nbsp;&nbsp; 123465 |
| &nbsp;&nbsp; 125000 | MPLX LP, Sr. Unsecd. Note, 4.950%, 3/14/2052 | &nbsp;&nbsp; 103080 |
| &nbsp;&nbsp; 30000 | Targa Resources, Inc., Sr. Unsecd. Note, 4.200%, 2/1/2033 | &nbsp;&nbsp; 28293 |

---

**5**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Energy - Midstream—continued** |  |
| $125000 | Williams Cos., Inc., Sr. Unsecd. Note, 5.150%, 3/15/2034 | &nbsp;&nbsp; $125383 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410675 |
|  | **Financial Institution - Banking—0.5%** |  |
| &nbsp;&nbsp; 210000 | Bank of America Corp., Sr. Unsecd. Note, 2.592%, 4/29/2031 | &nbsp;&nbsp; 194259 |
| &nbsp;&nbsp; 70000 | Bank of America Corp., Sr. Unsecd. Note, 5.468%, 1/23/2035 | &nbsp;&nbsp; 72356 |
| &nbsp;&nbsp; 100000 | Bank of America Corp., Sr. Unsecd. Note, 5.511%, 1/24/2036 | &nbsp;&nbsp; 103068 |
| &nbsp;&nbsp; 130000 | Bank of America Corp., Sr. Unsecd. Note, Series MTN, 2.884%, 10/22/2030 | &nbsp;&nbsp; 122993 |
| &nbsp;&nbsp; 150000 | Bank of New York Mellon Corp., Sr. Unsecd. Note, Series MTN, 3.992%, 6/13/2028 | &nbsp;&nbsp; 149964 |
| &nbsp;&nbsp; 95000 | Citigroup, Inc., Sr. Unsecd. Note, 3.200%, 10/21/2026 | &nbsp;&nbsp; 93952 |
| &nbsp;&nbsp; 125000 | Citigroup, Inc., Sub., 5.827%, 2/13/2035 | &nbsp;&nbsp; 128554 |
| &nbsp;&nbsp; 250000 | Citizens Bank, N.A., Sr. Unsecd. Note, Series BKNT, 3.750%, 2/18/2026 | &nbsp;&nbsp; 248975 |
| &nbsp;&nbsp; 110000 | FNB Corp. (PA), 5.722%, 12/11/2030 | &nbsp;&nbsp; 112179 |
| &nbsp;&nbsp; 170000 | Goldman Sachs Group, Inc., Sr. Unsecd. Note, 3.691%, 6/5/2028 | &nbsp;&nbsp; 168461 |
| &nbsp;&nbsp; 60000 | Goldman Sachs Group, Inc., Sr. Unsecd. Note, 5.851%, 4/25/2035 | &nbsp;&nbsp; 63293 |
| &nbsp;&nbsp; 250000 | HSBC Holdings PLC, Sr. Unsecd. Note, 3.900%, 5/25/2026 | &nbsp;&nbsp; 249338 |
| &nbsp;&nbsp; 125000 | Huntington Bancshares, Inc., Sr. Unsecd. Note, 5.709%, 2/2/2035 | &nbsp;&nbsp; 129220 |
| &nbsp;&nbsp; 100000 | JPMorgan Chase & Co., Sr. Unsecd. Note, 2.963%, 1/25/2033 | &nbsp;&nbsp; 90751 |
| &nbsp;&nbsp; 210000 | JPMorgan Chase & Co., Sr. Unsecd. Note, 3.782%, 2/1/2028 | &nbsp;&nbsp; 208823 |
| &nbsp;&nbsp; 70000 | JPMorgan Chase & Co., Sr. Unsecd. Note, 5.336%, 1/23/2035 | &nbsp;&nbsp; 71928 |
| &nbsp;&nbsp; 125000 | KeyCorp, Sr. Unsecd. Note, 6.401%, 3/6/2035 | &nbsp;&nbsp; 134330 |
| &nbsp;&nbsp; 65000 | M&T Bank Corp., Sr. Unsecd. Note, 7.413%, 10/30/2029 | &nbsp;&nbsp; 70817 |
| &nbsp;&nbsp; 40000 | Morgan Stanley, Sr. Unsecd. Note, 5.466%, 1/18/2035 | &nbsp;&nbsp; 41260 |
| &nbsp;&nbsp; 225000 | Morgan Stanley, Sr. Unsecd. Note, Series MTN, 6.250%, 8/9/2026 | &nbsp;&nbsp; 229442 |
| &nbsp;&nbsp; 100000 | Northern Trust Corp., Sub., 6.125%, 11/2/2032 | &nbsp;&nbsp; 108942 |
| &nbsp;&nbsp; 40000 | PNC Financial Services Group, Inc., 5.575%, 1/29/2036 | &nbsp;&nbsp; 41310 |
| &nbsp;&nbsp; 80000 | PNC Financial Services Group, Inc., Sr. Unsecd. Note, 5.676%, 1/22/2035 | &nbsp;&nbsp; 83436 |
| &nbsp;&nbsp; 65000 | Synovus Financial Corp., Sr. Unsecd. Note, 6.168%, 11/1/2030 | &nbsp;&nbsp; 67638 |
| &nbsp;&nbsp; 100000 | Truist Financial Corp., Sr. Unsecd. Note, Series MTN, 1.887%, 6/7/2029 | &nbsp;&nbsp; 94120 |
| &nbsp;&nbsp; 55000 | U.S. Bancorp, 5.100%, 7/23/2030 | &nbsp;&nbsp; 56598 |
| &nbsp;&nbsp; 200000 | Wells Fargo & Co., Sr. Unsecd. Note, 3.000%, 10/23/2026 | &nbsp;&nbsp; 197432 |
| &nbsp;&nbsp; 100000 | Wells Fargo & Co., Sr. Unsecd. Note, Series MTN, 2.879%, 10/30/2030 | &nbsp;&nbsp; 94446 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 3427885 |
|  | **Financial Institution - Broker/Asset Mgr/Exchange—0.0%** |  |
| &nbsp;&nbsp; 50000 | Jefferies Financial Group, Inc., Sr. Unsecd. Note, 2.750%, 10/15/2032 | &nbsp;&nbsp; 43138 |
|  | **Financial Institution - Finance Companies—0.1%** |  |
| &nbsp;&nbsp; 150000 | AerCap Ireland Capital Ltd. / AerCap Global Aviation Trust, Sr. Unsecd. Note, 5.300%, 1/19/2034 | &nbsp;&nbsp; 152198 |
| &nbsp;&nbsp; 100000 | Wynnton Funding Trust, Sr. Unsecd. Note, 5.251%, 8/15/2035 | &nbsp;&nbsp; 100154 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252352 |
|  | **Financial Institution - Insurance - Life—0.0%** |  |
| &nbsp;&nbsp; 200000 | Massachusetts Mutual Life Insurance Co., Sub. Note, 144A, 4.900%, 4/1/2077 | &nbsp;&nbsp; 164462 |
|  | **Financial Institution - Insurance - P&C—0.1%** |  |
| &nbsp;&nbsp; 50000 | Aon North America, Inc., 5.750%, 3/1/2054 | &nbsp;&nbsp; 49035 |
| &nbsp;&nbsp; 100000 | Beacon Funding Trust, Sr. Unsecd. Note, 6.266%, 8/15/2054 | &nbsp;&nbsp; 99715 |
| &nbsp;&nbsp; 55000 | Marsh & McLennan Cos., Inc., Sr. Unsecd. Note, 4.650%, 3/15/2030 | &nbsp;&nbsp; 56013 |
| &nbsp;&nbsp; 250000 | Nationwide Mutual Insurance Co., Sub. Note, 144A, 9.375%, 8/15/2039 | &nbsp;&nbsp; 335630 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540393 |
|  | **Financial Institution - REIT - Apartment—0.0%** |  |
| &nbsp;&nbsp; 80000 | Avalonbay Communities, Inc., Sr. Unsecd. Note, Series MTN, 3.350%, 5/15/2027 | &nbsp;&nbsp; 79103 |
|  | **Financial Institution - REIT - Healthcare—0.0%** |  |
| &nbsp;&nbsp; 100000 | Physicians Realty Trust, Sr. Unsecd. Note, 4.300%, 3/15/2027 | &nbsp;&nbsp; 100114 |
| &nbsp;&nbsp; 85000 | Welltower, Inc., Sr. Unsecd. Note, 2.750%, 1/15/2031 | &nbsp;&nbsp; 78349 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178463 |

---

**6**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Financial Institution - REIT - Office—0.0%** |  |
| $105000 | Alexandria Real Estate Equities, Inc., Sr. Unsecd. Note, 1.875%, 2/1/2033 | &nbsp;&nbsp; $85200 |
|  | **Financial Institution - REIT - Other—0.0%** |  |
| &nbsp;&nbsp; 100000 | WP Carey, Inc., Sr. Unsecd. Note, 5.375%, 6/30/2034 | &nbsp;&nbsp; 101359 |
|  | **Financial Institution - REIT - Retail—0.0%** |  |
| &nbsp;&nbsp; 100000 | Regency Centers LP, Sr. Unsecd. Note, 4.125%, 3/15/2028 | &nbsp;&nbsp; 99866 |
|  | **Technology—0.1%** |  |
| &nbsp;&nbsp; 50000 | Alphabet, Inc., Sr. Unsecd. Note, 2.050%, 8/15/2050 | &nbsp;&nbsp; 27314 |
| &nbsp;&nbsp; 35000 | Autodesk, Inc., Sr. Unsecd. Note, 5.300%, 6/15/2035 | &nbsp;&nbsp; 35637 |
| &nbsp;&nbsp; 45000 | Broadcom, Inc., Sr. Unsecd. Note, 4.150%, 11/15/2030 | &nbsp;&nbsp; 44574 |
| &nbsp;&nbsp; 85000 | Broadcom, Inc., Sr. Unsecd. Note, 5.050%, 7/12/2029 | &nbsp;&nbsp; 87419 |
| &nbsp;&nbsp; 75000 | Broadcom, Inc., Sr. Unsecd. Note, 5.200%, 4/15/2032 | &nbsp;&nbsp; 77446 |
| &nbsp;&nbsp; 5000 | Broadcom, Inc., Sr. Unsecd. Note, 144A, 3.187%, 11/15/2036 | &nbsp;&nbsp; 4177 |
| &nbsp;&nbsp; 100000 | Fiserv, Inc., Sr. Unsecd. Note, 3.500%, 7/1/2029 | &nbsp;&nbsp; 97127 |
| &nbsp;&nbsp; 55000 | Hewlett Packard Enterprise Co., 5.600%, 10/15/2054 | &nbsp;&nbsp; 50834 |
| &nbsp;&nbsp; 50000 | Hewlett Packard Enterprise Co., Sr. Unsecd. Note, 5.000%, 10/15/2034 | &nbsp;&nbsp; 49175 |
| &nbsp;&nbsp; 45000 | Oracle Corp., Sr. Unsecd. Note, 6.900%, 11/9/2052 | &nbsp;&nbsp; 48768 |
| &nbsp;&nbsp; 75000 | Roper Technologies, Inc., Sr. Unsecd. Note, 4.900%, 10/15/2034 | &nbsp;&nbsp; 74274 |
| &nbsp;&nbsp; 50000 | Trimble, Inc., Sr. Unsecd. Note, 6.100%, 3/15/2033 | &nbsp;&nbsp; 53188 |
| &nbsp;&nbsp; 40000 | Verisign, Inc., Sr. Unsecd. Note, 2.700%, 6/15/2031 | &nbsp;&nbsp; 36079 |
| &nbsp;&nbsp; 55000 | Visa, Inc., Sr. Unsecd. Note, 2.750%, 9/15/2027 | &nbsp;&nbsp; 53838 |
| &nbsp;&nbsp; 35000 | VMware, Inc., Sr. Unsecd. Note, 2.200%, 8/15/2031 | &nbsp;&nbsp; 30717 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 770567 |
|  | **Transportation - Railroads—0.0%** |  |
| &nbsp;&nbsp; 65000 | Union Pacific Corp., Sr. Unsecd. Note, 2.400%, 2/5/2030 | &nbsp;&nbsp; 60575 |
|  | **Transportation - Services—0.0%** |  |
| &nbsp;&nbsp; 50000 | Enterprise Rent-A-Car USA Finance Co., Sr. Unsecd. Note, 144A, 5.200%, 10/30/2034 | &nbsp;&nbsp; 51140 |
|  | **Utility - Electric—0.2%** |  |
| &nbsp;&nbsp; 80000 | American Electric Power Co., Inc., Sr. Unsecd. Note, 5.625%, 3/1/2033 | &nbsp;&nbsp; 83849 |
| &nbsp;&nbsp; 75000 | Black Hills Corp., Sr. Unsecd. Note, 2.500%, 6/15/2030 | &nbsp;&nbsp; 68848 |
| &nbsp;&nbsp; 150000 | CenterPoint Energy, Inc., Sr. Unsecd. Note, 2.650%, 6/1/2031 | &nbsp;&nbsp; 136112 |
| &nbsp;&nbsp; 125000 | Constellation Energy Generation LLC, Sr. Unsecd. Note, 5.800%, 3/1/2033 | &nbsp;&nbsp; 133129 |
| &nbsp;&nbsp; 100000 | Duke Energy Corp., Sr. Unsecd. Note, 5.000%, 12/8/2027 | &nbsp;&nbsp; 101917 |
| &nbsp;&nbsp; 40000 | Duke Energy Ohio, Inc., Term Loan - 1st Lien, 5.250%, 4/1/2033 | &nbsp;&nbsp; 41239 |
| &nbsp;&nbsp; 280000 | Evergy Metro, Inc., Sr. Unsecd. Note, 4.200%, 3/15/2048 | &nbsp;&nbsp; 223788 |
| &nbsp;&nbsp; 30000 | Exelon Corp., Sr. Unsecd. Note, 4.100%, 3/15/2052 | &nbsp;&nbsp; 22820 |
| &nbsp;&nbsp; 80000 | FirstEnergy Transmission LLC, Sr. Unsecd. Note, 144A, 4.550%, 4/1/2049 | &nbsp;&nbsp; 66472 |
| &nbsp;&nbsp; 100000 | NextEra Energy Capital Holdings, Inc., Sr. Unsecd. Note, 5.050%, 2/28/2033 | &nbsp;&nbsp; 101515 |
| &nbsp;&nbsp; 75000 | NiSource, Inc., Sr. Unsecd. Note, 4.375%, 5/15/2047 | &nbsp;&nbsp; 61972 |
| &nbsp;&nbsp; 175000 | Southern Co., Jr. Sub. Note, Series B, 4.000%, 1/15/2051 | &nbsp;&nbsp; 174613 |
| &nbsp;&nbsp; 45000 | WEC Energy Group, Inc., Sr. Unsecd. Note, 2.200%, 12/15/2028 | &nbsp;&nbsp; 42313 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 1258587 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CORPORATE BONDS <br>(IDENTIFIED COST $12,206,079)<br>| &nbsp;&nbsp;&nbsp; 11723086 |
|  | COMMERCIAL MORTGAGE-BACKED SECURITIES—0.8% |  |
|  | **Commercial Mortgage—0.4%** |  |
| &nbsp;&nbsp; 875000 | Bank 2018-BN12, Class A4, 4.255%, 5/15/2061 | &nbsp;&nbsp; 873786 |
| &nbsp;&nbsp; 1225000 | Bank 2018-BN15, Class A4, 4.407%, 11/15/2061 | &nbsp;&nbsp; 1228457 |
| &nbsp;&nbsp; 285000 | Bank 2022-BNK40, Class A4, 3.503%, 3/15/2064 | &nbsp;&nbsp; 264731 |
| &nbsp;&nbsp; 400000 | CD Commercial Mortgage Trust 2016-CD4, Class A4, 3.514%, 5/10/2050 | &nbsp;&nbsp; 393516 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 2760490 |
|  | **Federal Home Loan Mortgage Corporation—0.4%** |  |
| &nbsp;&nbsp; 897788 | Federal Home Loan Mortgage Corp. REMIC, Series K054, Class A2, 2.745%, 1/25/2026 | &nbsp;&nbsp; 891037 |
| &nbsp;&nbsp; 821874 | Federal Home Loan Mortgage Corp. REMIC, Series K105, Class A1, 1.536%, 9/25/2029 | &nbsp;&nbsp; 776486 |

---

**7**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | COMMERCIAL MORTGAGE-BACKED SECURITIES—continued |  |
|  | **Federal Home Loan Mortgage Corporation—continued** |  |
| $600000 | Federal Home Loan Mortgage Corp. REMIC, Series K109, Class A2, 1.558%, 4/25/2030 | &nbsp;&nbsp; $538376 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 2205899 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES <br>(IDENTIFIED COST $5,190,226)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4966389 |
|  | COLLATERALIZED MORTGAGE OBLIGATION—0.2% |  |
|  | **Non-Agency Mortgage-Backed Securities—0.2%** |  |
| &nbsp;&nbsp; 1594688 | GS Mortgage-Backed Securities Trust 2022-PJ3, Class A4, 2.500%, 8/25/2052 <br>(IDENTIFIED COST $1,500,015)<br>| &nbsp;&nbsp; 1303408 |
|  | ASSET-BACKED SECURITY—0.1% |  |
|  | **Financial Services—0.1%** |  |
| &nbsp;&nbsp; 725297 | Home Partners of America Trust 2022-1, Class B, 4.330%, 4/17/2039 <br>(IDENTIFIED COST $719,122)<br>| &nbsp;&nbsp; 721421 |
|  | WARRANT—0.0% |  |
|  | **Materials—0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4803<br><sup>1</sup> <br>| Hercules, Inc., Warrants <br>(IDENTIFIED COST $0)<br>| &nbsp;&nbsp; 40323 |
|  | INVESTMENT COMPANIES—42.7% |  |
| &nbsp;&nbsp;&nbsp; 2618608 | Bank Loan Core Fund | &nbsp;&nbsp; 22493844 |
| &nbsp;&nbsp;&nbsp; 9607130 | Emerging Markets Core Fund | &nbsp;&nbsp; 86175958 |
| &nbsp;&nbsp;&nbsp; 2356911 | Federated Hermes Government Obligations Fund, Premier Shares, 4.22%<sup>2</sup> <br>| &nbsp;&nbsp; 2356911 |
| &nbsp;&nbsp; 15875412 | High Yield Bond Core Fund | &nbsp;&nbsp; 90966108 |
| &nbsp;&nbsp; 10352207 | Mortgage Core Fund | &nbsp;&nbsp; 86647976 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT COMPANIES <br>(IDENTIFIED COST $338,512,131)<br>| &nbsp;&nbsp; 288640797 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—99% <br>(IDENTIFIED COST $647,920,736)<br>| &nbsp;&nbsp; 669812630 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—1.0%<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 7016643 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NET ASSETS—100% | &nbsp;&nbsp; $676829273 |

---

At August 31, 2025, the Fund had the following outstanding futures contracts:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number of** <br>**Contracts**<br>| &nbsp;&nbsp; **Notional** <br>**Value**<br>| &nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| &nbsp;&nbsp; **Value and** <br>**Unrealized** <br>**Appreciation**<br>|
| **Long Futures:** |  |  |  |  |
| United States Treasury Notes 2-Year Long Futures | &nbsp;&nbsp; 663 | &nbsp;&nbsp;&nbsp; $138261398 | December 2025 | &nbsp;&nbsp;&nbsp; $135733 |
| United States Treasury Notes 5-Year Long Futures | &nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp; $22441094 | December 2025 | &nbsp;&nbsp;&nbsp; $73590 |
| United States Treasury Notes 10-Year Long Futures | &nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp; $2700000 | December 2025 | &nbsp;&nbsp;&nbsp; $11581 |
| United States Treasury Notes 10-Year Ultra Long Futures | &nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; $457625 | December 2025 | &nbsp;&nbsp;&nbsp; $2054 |
| **Short Futures:** |  |  |  |  |
| United States Treasury Ultra Bond Short Futures | &nbsp;&nbsp; 253 | &nbsp;&nbsp;&nbsp; $29490313 | December 2025 | &nbsp;&nbsp;&nbsp; $50016 |
| &nbsp;&nbsp;&nbsp;&nbsp; NET UNREALIZED APPRECIATION ON FUTURES CONTRACTS | &nbsp;&nbsp;&nbsp;&nbsp; NET UNREALIZED APPRECIATION ON FUTURES CONTRACTS | &nbsp;&nbsp;&nbsp;&nbsp; NET UNREALIZED APPRECIATION ON FUTURES CONTRACTS | &nbsp;&nbsp;&nbsp;&nbsp; NET UNREALIZED APPRECIATION ON FUTURES CONTRACTS | &nbsp;&nbsp;&nbsp; $272974 |

---

Net Unrealized Appreciation on Futures Contracts is included in "Other Assets and Liabilities—Net."

**8**

------

Transactions with affiliated investment companies, which are funds managed by the Adviser or an affiliate of the Adviser, during the period ended August 31, 2025, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliates** | **Value as of** <br>**11/30/2024**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**Depreciation**<br>| **Net** <br>**Realized** <br>**Gain/** <br>**(Loss)**<br>| **Value as of** <br>**8/31/2025**<br>| **Shares** <br>**Held as of** <br>**8/31/2025**<br>| **Dividend** <br>**Income**<br>|
| Bank Loan Core Fund | $15628159 | $7170689 | $— | $(305004) | $— | $22493844 | &nbsp;&nbsp; 2618608 | $1170691 |
| Emerging Markets Core Fund | $97226756 | $— | $(12000000) | $(13841) | $963043 | $86175958 | &nbsp;&nbsp; 9607130 | $5215569 |
| Federated Hermes Government Obligations <br> Fund, Premier Shares<br>| $522971 | $63416003 | $(61582063) | $— | $— | $2356911 | &nbsp;&nbsp; 2356911 | $87639 |
| High Yield Bond Core Fund | $79638461 | $10000000 | $— | $1327647 | $— | $90966108 | 15875412 | $4043812 |
| Mortgage Core Fund | $100545493 | $6850000 | $(20732500) | $2877548 | $(2892565) | $86647976 | 10352207 | $3452223 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL OF AFFILIATED TRANSACTIONS | $293561840 | $87436692 | $(94314563) | $3886350 | $(1929522) | $288640797 | 40810268 | $13969934 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

1 *Non-income-producing security.* <br> 2 *7-day net yield.* <br> 3 *Assets, other than investments in securities, less liabilities.*

Note: The categories of investments are shown as a percentage of net assets at August 31, 2025.

**Investment Valuation** 

In calculating its net asset value (NAV), the Fund generally values investments as follows:

■ Equity securities listed on an exchange or traded through a regulated market system are valued at their last reported sale price or official closing price in their principal exchange or market.

■ Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs, or NAV per share practical expedient, as applicable.

■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by Federated Equity Management Company of Pennsylvania (the "Adviser").

■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and ask quotations.

■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Adviser.

■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Adviser, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the issuer or dealers, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.

If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Adviser's valuation policies and procedures for the Fund, or if information furnished by a pricing service, in the opinion of the Adviser's valuation committee ("Valuation Committee"), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different.

**Fair Valuation and Significant Events Procedures** 

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Fund's Board of Trustees (the "Trustees") has designated the Adviser as the Fund's valuation designee to perform any fair value determinations for securities and other assets held by the Fund. The Adviser is subject to the Trustees' oversight and certain reporting and other requirements intended to provide the Trustees the information needed to oversee the Adviser's fair value determinations.

The Adviser, acting through its Valuation Committee, is responsible for determining the fair value of investments for which market quotations are not readily available. The Valuation Committee is comprised of officers of the Adviser and certain of the Adviser's affiliated companies and determines fair value and oversees the calculation of the NAV. The Valuation Committee is also authorized to use pricing services to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services' policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services, and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Adviser. The Trustees periodically review the fair valuations made by the Valuation Committee. The Trustees have also approved the Adviser's fair valuation and significant events procedures as part of the Fund's compliance program and will review any changes made to the procedures.

Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a "bid" evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and ask for the investment (a "mid" evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency

**9**

------

securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Adviser.

The Adviser has also adopted procedures requiring an investment to be priced at its fair value whenever the Valuation Committee determines that a significant event affecting the value of the investment has occurred between the time as of which the price of the investment would otherwise be determined and the time as of which the NAV is computed. An event is considered significant if there is both an affirmative expectation that the investment's value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Examples of significant events that may occur after the close of the principal market on which a security is traded, or after the time of a price evaluation provided by a pricing service or a dealer, include:

■ With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts;

■ Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded;

■ Announcements concerning matters such as acquisitions, recapitalizations, litigation developments, or a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry.

The Adviser has adopted procedures whereby the Valuation Committee uses a pricing service to provide factors to update the fair value of equity securities traded principally in foreign markets from the time of the close of their respective foreign stock exchanges to the pricing time of the Fund. For other significant events, the Fund may seek to obtain more current quotations or price evaluations from alternative pricing sources. If a reliable alternative pricing source is not available, the Valuation Committee will determine the fair value of the investment in accordance with the fair valuation procedures approved by the Adviser. The Trustees periodically review fair valuations made in response to significant events.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:

Level 1—quoted prices in active markets for identical securities.

Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.

Level 3—significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>The following is a summary of the inputs used, as of August 31, 2025, in valuing the Fund's assets carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** |
|  | **Level 1—** <br>**Quoted** <br>**Prices**<br>| **Level 2—** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3—** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **Equity Securities:** |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp; Domestic | &nbsp;&nbsp; $244792623 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $244792623 |
| &nbsp;&nbsp; International | &nbsp;&nbsp;&nbsp; 13483406 | &nbsp;&nbsp;&nbsp;&nbsp; 9257208 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22740614 |
| Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp; Domestic | &nbsp;&nbsp;&nbsp; 21822189 | &nbsp;&nbsp;&nbsp; 16772187 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 38594376 |
| **Debt Securities:** |  |  |  |  |
| U.S. Treasuries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 56289593 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 56289593 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11723086 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11723086 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4966389 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4966389 |
| Collateralized Mortgage Obligation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1303408 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1303408 |
| Asset-Backed Security | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 721421 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 721421 |
| **Warrant** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40323 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40323 |
| **Investment Companies** | &nbsp;&nbsp; 288640797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 288640797 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SECURITIES | &nbsp;&nbsp; $568739015 | &nbsp;&nbsp; $101073615 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $669812630 |
| **Other Financial Instruments:**<sup>1</sup> <br>|  |  |  |  |
| Assets | &nbsp;&nbsp; $272974 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $272974 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

1 *Other financial instruments are futures contracts.*

**10**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| The following acronym(s) are used throughout this portfolio: | The following acronym(s) are used throughout this portfolio: |
| BKNT | —Bank Notes |
| ELN | —Equity-Linked Notes |
| GMTN | —Global Medium Term Note |
| MTN | —Medium Term Note |
| REIT | —Real Estate Investment Trust |
| REMIC | —Real Estate Mortgage Investment Conduit |

---

**11**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Federated Hermes Income Securities Trust

- **b. Investment Company Act file number:** 811-04577

- **c. CIK number of Registrant:** 0000789281

- **d. LEI of Registrant:** 254900ZSL64R3SX7WJ45

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

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 8003417400

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

- **a. Name of Series:** Federated Hermes Capital Income Fund

- **b. EDGAR series identifier (if any):** S000009073

- **c. LEI of Series:** I2RS71GYTS7ATN1SJD42

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-08-31

**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:** $677276651.59

**Total Liabilities:** $327733.45

**Net Assets:** $676948918.14

**Cash Not Reported:** $3367277.99

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 136.357597000000 | **1-Year:** -1755.327320000000 | **5-Year:** -3314.954093000000 | **10-Year:** -3470.762260000000 | **30-Year:** -1934.647144000000

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

- **3-Month:** -5.971642000000 | **1-Year:** -360.430006000000 | **5-Year:** -62.034348000000 | **10-Year:** -21.597242000000 | **30-Year:** -7.471369000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024648 | 3.29%                | 1.38%                | 2.08%                |
| Class ID C000024650 | 3.11%                | 1.42%                | 2.00%                |
| Class ID C000024651 | 3.18%                | 1.50%                | 2.08%                |
| Class ID C000114947 | 3.31%                | 1.40%                | 2.10%                |
| Class ID C000130424 | 3.16%                | 1.49%                | 2.07%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $380745.59               | $18854237.98                               |
| Month 2  | $3753781.22              | $4586326.20                                |
| Month 3  | $1996813.02              | $8326720.06                                |

**Designated Index Information**

- **Index Name:** 40% Russell 1000 Value, 20% Bloomberg EM Seasoned ex Aggregate/Eurodollar, 20% Barclays US HY 2pc Issuer Capped, 20% Barclays US MBS

- **Index Identifier:** 2277 Blend BM

### Schedule of Portfolio Investments

| Name                                                     | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T Inc                                                 | AT&T Inc                                                                        | CUSIP: 00206RFS6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    190000 | PA      | $163495.01    | 0.02%             | 2058-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                               | AbbVie Inc                                                                      | CUSIP: 00287YBX6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    185000 | PA      | $178312.84    | 0.03%             | 2029-11-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Advanced Micro Devices Inc                               | Advanced Micro Devices Inc                                                      | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     10343 | NS      | $1682082.09   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                                      | American Tower Corp                                                             | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     10844 | NS      | $2210549.40   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES MANAGEMENT CORP                                     | Ares Management Corp                                                            | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |     60000 | NS      | $3291000.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc                                   | CenterPoint Energy Inc                                                          | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |    144296 | NS      | $5441402.16   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| ERAC USA FINANCE LLC                                     | ERAC USA Finance LLC                                                            | CUSIP: 26884TAZ5<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51139.70     | 0.01%             | 2034-10-30      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                      | GS Mortgage-Backed Securities Trust 2022-PJ3                                    | CUSIP: 362924AE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1594688 | PA      | $1303408.23   | 0.19%             | 2052-08-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings PLC                                        | HSBC Holdings PLC                                                               | CUSIP: 404280BB4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $249337.70    | 0.04%             | 2026-05-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ALLEGION PLC                                             | Allegion PLC                                                                    | CUSIP: 01748TAB7<br>LEI: 984500560CAC2E6FB757 | Long             | DBT              | CORP              | IE        |     40000 | PA      | $38740.92     | 0.01%             | 2029-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                                           | Amazon.com Inc                                                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     14277 | NS      | $3269433.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group I                           | American International Group Inc                                                | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     29537 | NS      | $2401948.84   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                                                      | International Business Machines Corp                                            | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      7143 | NS      | $1739249.07   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                        | Johnson & Johnson                                                               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      8842 | NS      | $1566537.14   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                                                | Amgen Inc                                                                       | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35942.38     | 0.01%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                    | Aon North America Inc                                                           | CUSIP: 03740MAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $49034.84     | 0.01%             | 2054-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                           | Morgan Stanley                                                                  | CUSIP: 61747YFL4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41260.34     | 0.01%             | 2035-01-18      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| S&P Global Inc                                           | S&P Global Inc                                                                  | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      5007 | NS      | $2746039.08   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AVALONBAY COMMUNITIES                                    | AvalonBay Communities Inc                                                       | CUSIP: 05348EBA6<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |     80000 | PA      | $79103.06     | 0.01%             | 2027-05-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                     | Bank of America Corp                                                            | CUSIP: 06051GHX0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    130000 | PA      | $122993.12    | 0.02%             | 2030-10-22      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                         | Black Hills Corp                                                                | CUSIP: 092113AT6<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68847.65     | 0.01%             | 2030-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Boardwalk Pipelines LP                                   | Boardwalk Pipelines LP                                                          | CUSIP: 096630AG3<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30453.79     | 0.00%             | 2029-05-03      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                   | U.S. Treasury Notes                                                             | CUSIP: 91282CMP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  19400000 | PA      | $19512269.74  | 2.88%             | 2027-02-28      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                    | Wells Fargo & Co                                                                | CUSIP: 949746SH5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197431.52    | 0.03%             | 2026-10-23      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corp                                   | Boston Scientific Corp                                                          | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     13708 | NS      | $1446194.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                             | Broadcom Inc                                                                    | CUSIP: 11135FCG4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77445.46     | 0.01%             | 2032-04-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                    | Wells Fargo & Co                                                                | CUSIP: 95000U2G7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94445.66     | 0.01%             | 2030-10-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                   | US 10YR ULTRA FUT DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         4 | NC      | $2053.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc                                 | Builders FirstSource Inc                                                        | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     13726 | NS      | $1903521.68   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc                                       | Cenovus Energy Inc                                                              | CUSIP: 15135UAM1<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $49993.22     | 0.01%             | 2027-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                   | US ULTRA BOND CBT DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -253 | NC      | $50016.35     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                            | Medtronic PLC                                                                   | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     25828 | NS      | $2397096.68   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                                    | Costco Wholesale Corp                                                           | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1931 | NS      | $1821550.92   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL QMA STRAT VAL-                                | FEDERATED CORE TR MUTUAL FUND                                                   | CUSIP: 31409N887<br>LEI: 254900HYFNGKM5PJOV84 | Long             | EC               | RF                | US        |   9607130 | NS      | $86175958.04  | 12.73%            |  |  |  | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                                     | Freeport-McMoRan Inc                                                            | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     37122 | NS      | $1648216.80   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                                           | GE Vernova Inc                                                                  | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      3158 | NS      | $1935759.26   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| HP ENTERPRISE CO                                         | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824C208<br>LEI: 549300BX44RGX6ANDV88 | Long             | EP               | CORP              | US        |     58591 | NS      | $3691818.91   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinity Natural Resources Inc                           | Infinity Natural Resources Inc                                                  | CUSIP: 456941103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8000 | NS      | $119200.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                                      | JPMorgan Chase & Co                                                             | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     33248 | NS      | $10021612.16  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                                      | JPMorgan Chase & Co                                                             | CUSIP: 46647PCU8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90751.28     | 0.01%             | 2033-01-25      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                  | MPLX LP                                                                         | CUSIP: 55336VBT6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    125000 | PA      | $103080.49    | 0.02%             | 2052-03-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                                   | Motorola Solutions Inc                                                          | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      3802 | NS      | $1796292.92   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                   | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCP3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101514.52    | 0.01%             | 2033-02-28      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| NiSource Inc                                             | NiSource Inc                                                                    | CUSIP: 65473QBF9<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     75000 | PA      | $61972.19     | 0.01%             | 2047-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                                    | Northrop Grumman Corp                                                           | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      3584 | NS      | $2114703.36   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTL INC                                   | Philip Morris International Inc                                                 | CUSIP: 718172CX5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    105000 | PA      | $111230.67    | 0.02%             | 2032-11-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co/The                                  | Procter & Gamble Co/The                                                         | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     15794 | NS      | $2480289.76   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                                 | Saia Inc                                                                        | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      5134 | NS      | $1522025.64   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                                 | Visa Inc                                                                        | CUSIP: 92826CAH5<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |     55000 | PA      | $53838.12     | 0.01%             | 2027-09-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Waste Management Inc                                     | Waste Management Inc                                                            | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |     12711 | NS      | $2877643.29   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| WYNNTON FUNDING TRUST                                    | Wynnton Funding Trust                                                           | CUSIP: 983196AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100153.98    | 0.01%             | 2035-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade                                   | US 2YR NOTE (CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       663 | NC      | $135733.41    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                 | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AV1<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |    105000 | PA      | $85199.64     | 0.01%             | 2033-02-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                                             | Alphabet Inc                                                                    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     14944 | NS      | $3181727.04   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                             | Alphabet Inc                                                                    | CUSIP: 02079KAF4<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |     50000 | PA      | $27314.36     | 0.00%             | 2050-08-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| BACARDI-MARTINI BV                                       | Bacardi-Martini BV                                                              | CUSIP: 05634WAB8<br>LEI: 5493002XXBV8B88K2408 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $102946.70    | 0.02%             | 2035-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Bank                                                     | BANK 2018-BNK15                                                                 | CUSIP: 06036FBC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1225000 | PA      | $1228457.07   | 0.18%             | 2061-11-15      | Variable      | 4.41%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                     | Bank of America Corp                                                            | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103067.50    | 0.02%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                             | Broadcom Inc                                                                    | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4176.48      | 0.00%             | 2036-11-15      | Fixed         | 3.19%                 | Yes           |                  2 | On Loan: No      |
| COCA-COLA FEMSA SAB CV                                   | Coca-Cola Femsa SAB de CV                                                       | CUSIP: 191241AH1<br>LEI: 5493008KEVFYPMGTXO33 | Long             | DBT              | CORP              | MX        |    150000 | PA      | $141152.07    | 0.02%             | 2030-01-22      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                  | HCA Inc                                                                         | CUSIP: 404121AL9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47954.19     | 0.01%             | 2054-09-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                      | JPMorgan Chase & Co                                                             | CUSIP: 46647PEC6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71928.33     | 0.01%             | 2035-01-23      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                                           | ELI LILLY & CO                                                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      4253 | NS      | $3115662.74   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC                                       | NextEra Energy Inc                                                              | CUSIP: 65339F713<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |    129000 | NS      | $5290290.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                             | Prologis Inc                                                                    | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     13820 | NS      | $1572439.60   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                                                 | Raytheon Technologies Corp                                                      | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     15101 | NS      | $2395018.60   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                 | Rogers Communications Inc                                                       | CUSIP: 775109CJ8<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $128479.05    | 0.02%             | 2042-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Sun Communities Inc                                      | Sun Communities Inc                                                             | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               |  | US        |      6294 | NS      | $798519.78    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIMBLE INC                                              | Trimble Inc                                                                     | CUSIP: 896239AE0<br>LEI: 549300E2MI7NSZFQWS19 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53187.74     | 0.01%             | 2033-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Ulta Beauty Inc                                          | Ulta Beauty Inc                                                                 | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      6153 | NS      | $3031767.69   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP                                       | Union Pacific Corp                                                              | CUSIP: 907818FH6<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |     65000 | PA      | $60574.95     | 0.01%             | 2030-02-05      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                   | UnitedHealth Group Inc                                                          | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      7712 | NS      | $2389717.44   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc                                   | Valmont Industries Inc                                                          | CUSIP: 920253AE1<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | DBT              | CORP              | US        |     90000 | PA      | $80157.62     | 0.01%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                     | WEC Energy Group Inc                                                            | CUSIP: 92939UAG1<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |     45000 | PA      | $42313.24     | 0.01%             | 2028-12-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                                           | Eaton Corp PLC                                                                  | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |      7027 | NS      | $2453406.78   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                                    | Applied Materials Inc                                                           | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      8303 | NS      | $1334790.28   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                                          | AstraZeneca PLC                                                                 | CUSIP: 046353AW8<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |     60000 | PA      | $52667.96     | 0.01%             | 2030-08-06      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                            | Boeing Co/The                                                                   | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |     28000 | NS      | $2083760.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO                                                | Boeing Co/The                                                                   | CUSIP: 097023DC6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71640.88     | 0.01%             | 2031-02-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                             | CD 2017-CD4 Mortgage Trust                                                      | CUSIP: 12515DAR5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $393515.68    | 0.06%             | 2050-05-10      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                          | CVS Health Corp                                                                 | CUSIP: 126650DU1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75901.89     | 0.01%             | 2033-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHURCH & DWIGHT CO INC                                   | Church & Dwight Co Inc                                                          | CUSIP: 17136MAA0<br>LEI: POOXSI30AWAQGYJZC921 | Long             | DBT              | CORP              | US        |     65000 | PA      | $57375.28     | 0.01%             | 2031-12-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                         | Crown Castle International Corp                                                 | CUSIP: 22822VAM3<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |     50000 | PA      | $44917.32     | 0.01%             | 2049-02-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Dell Technologies Inc                                    | Dell Technologies Inc                                                           | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |     14290 | NS      | $1745523.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP                                         | Duke Energy Corp                                                                | CUSIP: 26441CBW4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101916.81    | 0.02%             | 2027-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                             | Enbridge Inc                                                                    | CUSIP: 29250NCD5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $123464.57    | 0.02%             | 2054-04-05      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.         | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137BNGT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    897788 | PA      | $891037.42    | 0.13%             | 2026-01-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Federated Core Trust - High Yield Bond Portfolio         | FED HIGH YLD BOND PORT                                                          | CUSIP: 000000000<br>LEI: 549300FJ1PZWFDNRP685 | Long             | EC               | RF                | US        |  15875412 | NS      | $90966108.44  | 13.44%            |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co                                        | General Motors Co                                                               | CUSIP: 37045VAJ9<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43529.23     | 0.01%             | 2045-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                         | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824CBW8<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |     55000 | PA      | $50834.37     | 0.01%             | 2054-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust                           | Home Partners of America 2022-1 Trust                                           | CUSIP: 43730NAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    725297 | PA      | $721421.53    | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                      | JPMorgan Chase & Co                                                             | CUSIP: 46625HRY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    210000 | PA      | $208823.49    | 0.03%             | 2028-02-01      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| LEIDOS INC                                               | Leidos Inc                                                                      | CUSIP: 52532XAF2<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49769.99     | 0.01%             | 2030-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                                 | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748CA8<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56012.74     | 0.01%             | 2030-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Microchip Technology Inc                                 | Microchip Technology Inc                                                        | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     15997 | NS      | $1039805.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                               | AbbVie Inc                                                                      | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     10373 | NS      | $2182479.20   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBH7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $152197.59    | 0.02%             | 2034-01-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT                                 | Apollo Global Management Inc                                                    | CUSIP: 03769M304<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |     60000 | NS      | $4302600.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                                      | Arista Networks Inc                                                             | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     13590 | NS      | $1855714.50   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                                 | Simon Property Group Inc                                                        | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      6683 | NS      | $1207350.78   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE USA INC                                         | T-Mobile USA Inc                                                                | CUSIP: 87264ACW3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    120000 | PA      | $115011.48    | 0.02%             | 2053-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                             | AutoZone Inc                                                                    | CUSIP: 053332BK7<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128532.39    | 0.02%             | 2034-07-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                     | Bank of America Corp                                                            | CUSIP: 06051GJB6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    210000 | PA      | $194259.37    | 0.03%             | 2031-04-29      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                    | Truist Financial Corp                                                           | CUSIP: 89788MAE2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94119.53     | 0.01%             | 2029-06-07      | Fixed         | 1.89%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                    | Uber Technologies Inc                                                           | CUSIP: 90353TAN0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75251.78     | 0.01%             | 2030-01-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                                    | Bath & Body Works Inc                                                           | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     59974 | NS      | $1751840.54   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO                                                | Boeing Co/The                                                                   | CUSIP: 097023CR4<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     30000 | PA      | $20682.90     | 0.00%             | 2059-08-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| United Rentals Inc                                       | United Rentals Inc                                                              | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      1890 | NS      | $1807482.60   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                                               | US Bancorp                                                                      | CUSIP: 91159HJS0<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56597.75     | 0.01%             | 2030-07-23      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                            | Boeing Co/The                                                                   | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     50000 | PA      | $54888.80     | 0.01%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                 | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $74287.07     | 0.01%             | 2034-06-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| VERISIGN INC                                             | VeriSign Inc                                                                    | CUSIP: 92343EAM4<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |     40000 | PA      | $36079.05     | 0.01%             | 2031-06-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                                 | Visa Inc                                                                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     12089 | NS      | $4252668.42   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| WP CAREY INC                                             | WP Carey Inc                                                                    | CUSIP: 92936UAM1<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              |  | US        |    100000 | PA      | $101358.62    | 0.01%             | 2034-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                      | Deutsche Telekom AG                                                             | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     32666 | NS      | $1194735.29   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola Co/The                                         | Coca-Cola Co/The                                                                | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     53226 | NS      | $3672061.74   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                                             | Comcast Corp                                                                    | CUSIP: 20030NBY6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197830.96    | 0.03%             | 2027-02-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Siemens Energy AG                                        | Siemens Energy AG                                                               | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |      7797 | NS      | $827654.70    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| HBX Group International PLC                              | HBX Group International PLC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     40000 | NS      | $347561.76    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Danaher Corp                                             | Danaher Corp                                                                    | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      6621 | NS      | $1362734.22   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Elanco Animal Health Inc                                 | Elanco Animal Health Inc                                                        | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |     69940 | NS      | $1283399.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                 | FirstEnergy Transmission LLC                                                    | CUSIP: 33767BAC3<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |     80000 | PA      | $66472.31     | 0.01%             | 2049-04-01      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| Humana Inc                                               | Humana Inc                                                                      | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      2807 | NS      | $852373.62    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho                           | Knight-Swift Transportation Holdings Inc                                        | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24610 | NS      | $1080379.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MARS INC                                                 | Mars Inc                                                                        | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75742.17     | 0.01%             | 2035-03-01      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| MARS INC                                                 | Mars Inc                                                                        | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39052.06     | 0.01%             | 2055-05-01      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| MASS MUTUAL LIFE INS CO                                  | Massachusetts Mutual Life Insurance Co                                          | CUSIP: 575767AL2<br>LEI: R6ZXK5P01NP6HXSY1S07 | Long             | DBT              | CORP              | US        |    200000 | PA      | $164462.26    | 0.02%             | 2077-04-01      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                           | Morgan Stanley                                                                  | CUSIP: 61746BCY0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    225000 | PA      | $229441.73    | 0.03%             | 2026-08-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp                                              | NVIDIA Corp                                                                     | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     44233 | NS      | $7704503.94   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In                           | Philip Morris International Inc                                                 | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     12673 | NS      | $2118038.49   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers LP                                       | Regency Centers LP                                                              | CUSIP: 75884RAX1<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              |  | US        |    100000 | PA      | $99865.79     | 0.01%             | 2028-03-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                                           | salesforce.com Inc                                                              | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      9246 | NS      | $2369287.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SMITHFIELD FOODS INC                                     | Smithfield Foods Inc                                                            | CUSIP: 832248BC1<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |     80000 | PA      | $73179.25     | 0.01%             | 2030-10-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| ALBEMARLE CORP                                           | Albemarle Corp                                                                  | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |     37000 | NS      | $1460760.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                  | American Electric Power Co Inc                                                  | CUSIP: 025537AX9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     80000 | PA      | $83848.98     | 0.01%             | 2033-03-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| American Express Co                                      | American Express Co                                                             | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     10723 | NS      | $3552315.44   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN HONDA FINANCE                                   | American Honda Finance Corp                                                     | CUSIP: 02665WEQ0<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50051.79     | 0.01%             | 2025-10-03      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Southern Co/The                                          | Southern Co/The                                                                 | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     33256 | NS      | $3069528.80   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc                               | Stanley Black & Decker Inc                                                      | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     14880 | NS      | $1105435.20   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TARGA RESOURCES CORP                                     | Targa Resources Corp                                                            | CUSIP: 87612GAA9<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28293.19     | 0.00%             | 2033-02-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc                             | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      4528 | NS      | $2231036.16   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                               | Verizon Communications Inc                                                      | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     56861 | NS      | $2514962.03   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                                      | Vulcan Materials Co                                                             | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      6500 | NS      | $1892540.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                                         | Wells Fargo & Co                                                                | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     26837 | NS      | $2205464.66   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                   | US 10YR NOTE (CBT)DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        24 | NC      | $11580.64     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                   | US 5YR NOTE (CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       205 | NC      | $73590.29     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoscripta SE                                           | Innoscripta SE                                                                  | CUSIP: 000000000<br>LEI: 894500BA6B025ZEF0T83 | Long             | EC               | CORP              | DE        |      9833 | NS      | $1392640.23   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| QUALCO GROUP SA                                          | QUALCO GROUP SA                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GR        |     10063 | NS      | $64923.65     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Willis Towers Watson PLC                                 | Willis Towers Watson PLC                                                        | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |      8612 | NS      | $2814315.48   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| American Integrity Insurance G                           | American Integrity Insurance Group Inc                                          | CUSIP: 026948109<br>LEI: 529900Y2VOV2LYV4OK68 | Long             | EC               | CORP              | US        |     15000 | NS      | $299850.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                                                | Amgen Inc                                                                       | CUSIP: 031162DT4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    190000 | PA      | $183897.85    | 0.03%             | 2053-03-02      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Adobe Inc                                                | Adobe Inc                                                                       | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      2198 | NS      | $784026.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ANHEUSER-BUSCH CO/INBEV                                  | Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc                     | CUSIP: 03522AAJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    132000 | PA      | $120606.61    | 0.02%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Blackrock Inc                                            | Blackrock Inc                                                                   | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      2145 | NS      | $2417715.30   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                 | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BR4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $71112.49     | 0.01%             | 2029-03-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Chevron Corp                                             | Chevron Corp                                                                    | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22443 | NS      | $3604345.80   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                             | Citizens Financial Group Inc                                                    | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     68159 | NS      | $3563352.52   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                           | ConocoPhillips                                                                  | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     22946 | NS      | $2270965.62   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.         | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137FRUH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    821874 | PA      | $776486.24    | 0.11%             | 2029-09-25      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                  | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GA95<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     60000 | PA      | $63293.25     | 0.01%             | 2035-04-25      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                  | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GWL4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    170000 | PA      | $168460.66    | 0.02%             | 2028-06-05      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange Inc                            | Intercontinental Exchange Inc                                                   | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     11717 | NS      | $2069222.20   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T BANK CORPORATION                                     | M&T Bank Corp                                                                   | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |     65000 | PA      | $70817.40     | 0.01%             | 2029-10-30      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                                           | Microsoft Corp                                                                  | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     23466 | NS      | $11889987.54  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONWIDE MUTUAL INSURA                                 | Nationwide Mutual Insurance Co                                                  | CUSIP: 638671AK3<br>LEI: Z7LVXXWM8HZPKF5T2355 | Long             | DBT              | CORP              | US        |    250000 | PA      | $335630.45    | 0.05%             | 2039-08-15      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| OVINTIV INC                                              | Ovintiv Inc                                                                     | CUSIP: 69047QAD4<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56903.97     | 0.01%             | 2053-07-15      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                   | PNC Financial Services Group Inc/The                                            | CUSIP: 693475CC7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41309.53     | 0.01%             | 2036-01-29      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| DOC DR LLC                                               | Physicians Realty LP                                                            | CUSIP: 71951QAA0<br>LEI: 549300P6Q1UMT0X60U20 | Long             | DBT              |  | US        |    100000 | PA      | $100114.13    | 0.01%             | 2027-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                              | Southern Co/The                                                                 | CUSIP: 842587DF1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174612.94    | 0.03%             | 2051-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SYNOVUS FINANCIAL CORP                                   | Synovus Financial Corp                                                          | CUSIP: 87161CAP0<br>LEI: 549300EIUS8UN5JTLE54 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67637.77     | 0.01%             | 2030-11-01      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| TYSON FOODS INC                                          | Tyson Foods Inc                                                                 | CUSIP: 902494BM4<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    125000 | PA      | $130331.36    | 0.02%             | 2034-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| UMB Financial Corp                                       | UMB Financial Corp                                                              | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     17558 | NS      | $2140320.20   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLTOWER OP LLC                                         | Welltower Inc                                                                   | CUSIP: 95040QAL8<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |     85000 | PA      | $78349.29     | 0.01%             | 2031-01-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                         | TotalEnergies SE                                                                | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     14123 | NS      | $886346.39    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| APA CORP                                                 | APA Corp                                                                        | CUSIP: 03743QAS7<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |     45000 | PA      | $42717.61     | 0.01%             | 2055-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| APPLOVIN CORP                                            | AppLovin Corp                                                                   | CUSIP: 03831WAD0<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35738.22     | 0.01%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                            | AppLovin Corp                                                                   | CUSIP: 03831WAE8<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24353.56     | 0.00%             | 2054-12-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Assurant Inc                                             | Assurant Inc                                                                    | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     10268 | NS      | $2213883.48   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK INC                                             | Autodesk Inc                                                                    | CUSIP: 052769AJ5<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35637.08     | 0.01%             | 2035-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                     | Bank of America Corp                                                            | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     87999 | NS      | $4465069.26   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NY MELLON CORP                                   | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBG1<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149964.33    | 0.02%             | 2028-06-13      | Fixed         | 3.99%                 | No            |                  2 | On Loan: No      |
| Bank                                                     | BANK 2018-BNK12                                                                 | CUSIP: 06541KBA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    875000 | PA      | $873786.55    | 0.13%             | 2061-05-15      | Variable      | 4.26%                 | No            |                  2 | On Loan: No      |
| BEACON FUNDING TRUST                                     | Beacon Funding Trust                                                            | CUSIP: 073952AB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99715.12     | 0.01%             | 2054-08-15      | Fixed         | 6.27%                 | Yes           |                  2 | On Loan: No      |
| Broadcom Inc                                             | Broadcom Inc                                                                    | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     33181 | NS      | $9867697.59   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                             | Broadcom Inc                                                                    | CUSIP: 11135FAQ4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44573.72     | 0.01%             | 2030-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                             | Broadcom Inc                                                                    | CUSIP: 11135FBX8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87419.33     | 0.01%             | 2029-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                                   | CenterPoint Energy Inc                                                          | CUSIP: 15189TBB2<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |    150000 | PA      | $136112.06    | 0.02%             | 2031-06-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                            | Citigroup Inc                                                                   | CUSIP: 172967KY6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93952.17     | 0.01%             | 2026-10-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CITIZENS BANK NA/RI                                      | Citizens Bank NA/Providence RI                                                  | CUSIP: 17401QAU5<br>LEI: DRMSV1Q0EKMEXLAU1P80 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248974.97    | 0.04%             | 2026-02-18      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION EN GEN LLC                                 | Constellation Energy Generation LLC                                             | CUSIP: 210385AC4<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    125000 | PA      | $133128.74    | 0.02%             | 2033-03-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines Inc                                      | Delta Air Lines Inc                                                             | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     29853 | NS      | $1844318.34   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corp                                               | Dover Corp                                                                      | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |      4925 | NS      | $880885.50    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORP                                              | Exelon Corp                                                                     | CUSIP: 30161NBH3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |     30000 | PA      | $22820.01     | 0.00%             | 2052-03-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                                         | Exxon Mobil Corp                                                                | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     35201 | NS      | $4023122.29   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| FNB CORP                                                 | FNB Corp/PA                                                                     | CUSIP: 302520AD3<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112178.97    | 0.02%             | 2030-12-11      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                       | Meta Platforms Inc                                                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      9590 | NS      | $7084133.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Core Trust - Federated Mortgage Core Portfolio | FEDERATED CORE TR MTG CORE PORTFOLIO                                            | CUSIP: 31409N200<br>LEI: 254900WC9GWJKY8X3D48 | Long             | EC               | RF                | US        |  10352207 | NS      | $86647975.68  | 12.80%            |  |  |  | No            |                  2 | On Loan: No      |
| FISERV INC                                               | Fiserv Inc                                                                      | CUSIP: 337738AU2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97126.97     | 0.01%             | 2029-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| General Electric Co                                      | General Electric Co                                                             | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      6787 | NS      | $1867782.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GLENCORE FUNDING LLC                                     | Glencore Funding LLC                                                            | CUSIP: 378272BD9<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73584.69     | 0.01%             | 2026-04-27      | Fixed         | 1.63%                 | Yes           |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                     | Glencore Funding LLC                                                            | CUSIP: 378272BH0<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     35000 | PA      | $23216.05     | 0.00%             | 2051-09-23      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                         | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49175.04     | 0.01%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc/The                                       | Home Depot Inc/The                                                              | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1969 | NS      | $800930.13    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                                           | Home Depot Inc/The                                                              | CUSIP: 437076BY7<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    110000 | PA      | $106052.04    | 0.02%             | 2029-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                    | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BD5<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129219.87    | 0.02%             | 2035-02-02      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| INGERSOLL RAND INC                                       | Ingersoll Rand Inc                                                              | CUSIP: 45687VAF3<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15527.23     | 0.00%             | 2034-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| INGERSOLL RAND INC                                       | Ingersoll Rand Inc                                                              | CUSIP: 45687VAG1<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14843.73     | 0.00%             | 2054-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE LONDON                                    | JPMorgan Chase Bank NA/London                                                   | CUSIP: 466303708<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | SN               | CORP              | US        |     44564 | PA      | $9290257.08   | 1.37%             | 2026-02-19      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                  | Jefferies Group LLC                                                             | CUSIP: 47233JDX3<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43137.97     | 0.01%             | 2032-10-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| KKR & Co Inc                                             | KKR & Co Inc                                                                    | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |     11980 | NS      | $1671090.20   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERGY METRO                                             | Kansas City Power & Light Co                                                    | CUSIP: 485134BR0<br>LEI: 1128SIJQ26096WL7IO82 | Long             | DBT              | CORP              | US        |    280000 | PA      | $223788.20    | 0.03%             | 2048-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                                     | Kraft Heinz Foods Co                                                            | CUSIP: 50077LAB2<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $79700.82     | 0.01%             | 2046-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| McKesson Corp                                            | McKesson Corp                                                                   | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      2893 | NS      | $1986449.52   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Government Obligations Fund             | Federated Hermes Government Obligations Fund                                    | CUSIP: 608919718<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |   2356911 | NS      | $2356910.58   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                                             | National Retail Properties Inc                                                  | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     23678 | NS      | $1016022.98   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                                                 | NIKE Inc                                                                        | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     26201 | NS      | $2027171.37   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                              | Oracle Corp                                                                     | CUSIP: 68389XCK9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     45000 | PA      | $48768.03     | 0.01%             | 2052-11-09      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| PPL Corp                                                 | PPL Corp                                                                        | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     78852 | NS      | $2875732.44   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp                                     | Parker-Hannifin Corp                                                            | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      5725 | NS      | $4347278.75   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Entertainment Inc                                   | Penn Entertainment Inc                                                          | CUSIP: 707569109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    113560 | NS      | $2297318.80   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                               | Pfizer Inc                                                                      | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     92339 | NS      | $2286313.64   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The                                     | Progressive Corp/The                                                            | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      8871 | NS      | $2191669.26   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                                        | RLJ Lodging Trust                                                               | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               |  | US        |    114953 | NS      | $885138.10    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC SERVICES INC                                    | Republic Services Inc                                                           | CUSIP: 760759BB5<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102593.67    | 0.02%             | 2029-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Reynolds American Inc                                    | Reynolds American Inc                                                           | CUSIP: 761713BW5<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |    145000 | PA      | $153005.06    | 0.02%             | 2041-08-04      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp/The                                  | Charles Schwab Corp/The                                                         | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     21754 | NS      | $2084903.36   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                                           | SYNNEX Corp                                                                     | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     16995 | NS      | $2516449.65   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS COMPANIES INC                                   | Williams Cos Inc/The                                                            | CUSIP: 88339WAC0<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125382.91    | 0.02%             | 2034-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Array Digital Infrastructure Inc                         | Array Digital Infrastructure Inc                                                | CUSIP: 911684108<br>LEI: 549300B164AZXESI6E03 | Long             | EC               | CORP              | US        |     19965 | NS      | $1074715.95   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                   | U.S. Treasury Bonds                                                             | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  19100000 | PA      | $17825670.92  | 2.63%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                   | U.S. Treasury Notes                                                             | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15300000 | PA      | $15402797.64  | 2.28%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                   | U.S. Treasury Notes                                                             | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3500000 | PA      | $3548854.40   | 0.52%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp                                       | Valero Energy Corp                                                              | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      6090 | NS      | $925740.90    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc                                   | Valmont Industries Inc                                                          | CUSIP: 920253AF8<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22769.80     | 0.00%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                   | Verizon Communications Inc                                                      | CUSIP: 92343VGB4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     60000 | PA      | $42693.43     | 0.01%             | 2051-03-22      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                                               | VMware Inc                                                                      | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |     35000 | PA      | $30717.22     | 0.00%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                       | Vodafone Group PLC                                                              | CUSIP: 92857WBY5<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |     85000 | PA      | $80364.71     | 0.01%             | 2053-02-10      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                                              | Walmart Inc                                                                     | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     41273 | NS      | $4002655.54   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE CONNECTIONS INC                                    | Waste Connections Inc                                                           | CUSIP: 94106BAA9<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $94061.88     | 0.01%             | 2030-02-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp                                           | Whirlpool Corp                                                                  | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |     30458 | NS      | $2837162.70   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The                                     | Williams Cos Inc/The                                                            | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     14892 | NS      | $861948.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                          | AstraZeneca PLC                                                                 | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     23512 | NS      | $3758764.04   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Linde PLC                                                | Linde PLC                                                                       | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      6684 | NS      | $3196890.36   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                             | LyondellBasell Industries NV                                                    | CUSIP: 000000000<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |     13107 | NS      | $738579.45    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JBS NV                                                   | JBS NV                                                                          | CUSIP: 000000000<br>LEI: 254900JSFON4WL81TW77 | Long             | EC               | CORP              | NL        |    116170 | NS      | $1883115.70   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                                 | AT&T Inc                                                                        | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    173131 | NS      | $5071006.99   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                                      | Abbott Laboratories                                                             | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      6291 | NS      | $834564.06    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                                | Apple Inc                                                                       | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     44499 | NS      | $10329997.86  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                                     | Bank of America Corp                                                            | CUSIP: 06051GMA4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72355.70     | 0.01%             | 2035-01-23      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Bank                                                     | BANK 2022-BNK40                                                                 | CUSIP: 06541LBG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    285000 | PA      | $264730.60    | 0.04%             | 2064-03-15      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                            | Boeing Co/The                                                                   | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     30000 | PA      | $32873.17     | 0.00%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                  | Bristol-Myers Squibb Co                                                         | CUSIP: 110122DK1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    175000 | PA      | $145313.15    | 0.02%             | 2047-11-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Brixmor Property Group Inc                               | Brixmor Property Group Inc                                                      | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     31353 | NS      | $877570.47    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CAMPBELLS COMPANY                                    | Campbell Soup Co                                                                | CUSIP: 134429BQ1<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |     85000 | PA      | $81435.03     | 0.01%             | 2035-03-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp                               | Capital One Financial Corp                                                      | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      9016 | NS      | $2048615.52   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                            | Citigroup Inc                                                                   | CUSIP: 172967PG0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128554.18    | 0.02%             | 2035-02-13      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY OHIO INC                                     | Duke Energy Ohio Inc                                                            | CUSIP: 26442EAJ9<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41239.49     | 0.01%             | 2033-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Equinix Inc                                              | Equinix Inc                                                                     | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      2717 | NS      | $2136078.23   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.         | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137FTFY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    600000 | PA      | $538375.50    | 0.08%             | 2030-04-25      | Fixed         | 1.56%                 | No            |                  2 | On Loan: No      |
| Federated Core Trust - Federated Bank Loan Core Fund     | FEDERATED CORE TR FEDERATED BANK LOAN CORE FUND                                 | CUSIP: 31409N804<br>LEI: 549300FJK5JF0KIC2N83 | Long             | EC               | RF                | US        |   2602365 | NS      | $22354316.33  | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hercules Trust II                                        | HERCULES TR II WTS EXP 31MAR29                                                  | CUSIP: 427098116<br>LEI: N/A                  | N/A              | DE               |  | US        |      4803 | NS      | $40322.63     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE LONDON                                    | JPMorgan Chase Bank NA/London                                                   | CUSIP: 466303500<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | SN               | CORP              | US        |     32827 | PA      | $7481929.84   | 1.11%             | 2025-12-17      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| KKR & CO INC                                             | KKR & Co Inc                                                                    | CUSIP: 48251W500<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |     31200 | NS      | $1701960.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                                                  | KeyCorp                                                                         | CUSIP: 49326EEP4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    125000 | PA      | $134330.33    | 0.02%             | 2035-03-06      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| MP Materials Corp                                        | MP Materials Corp                                                               | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |     33644 | NS      | $2393434.16   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                 | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     50000 | PA      | $33728.25     | 0.00%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| NORTHERN TRUST CORP                                      | Northern Trust Corp                                                             | CUSIP: 665859AX2<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    100000 | PA      | $108942.06    | 0.02%             | 2032-11-02      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                   | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BW4<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     80000 | PA      | $83436.25     | 0.01%             | 2035-01-22      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                   | Roper Technologies Inc                                                          | CUSIP: 776696AJ5<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74274.33     | 0.01%             | 2034-10-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                         | T-Mobile USA Inc                                                                | CUSIP: 87264ACQ6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     60000 | PA      | $53179.63     | 0.01%             | 2032-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Wendy's Co/The                                           | Wendy's Co/The                                                                  | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |    169836 | NS      | $1801959.96   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                                | Sanofi                                                                          | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |      9084 | NS      | $902559.48    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-23

**Name of Applicant:** Federated Hermes Income Securities Trust

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Income Securities Trust

**Title:** Chief Compliance Officer