# EDGAR Filing Document

**Accession Number:** 0000914036
**File Stem:** 0001410368-25-027747
**Filing Date:** 2025-11
**Character Count:** 148604
**Document Hash:** 0f00cba1e1cfa22cd17c43cef9ae0a93
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-027747.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-027747

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **CENTRAL INDEX KEY:** 0000914036

**ORGANIZATION NAME:**
- **EIN:** 521835648
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08090
- **FILM NUMBER:** 251504937

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** 260-455-2000

**MAIL ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGGRESSIVE GROWTH FUND /
- **DATE OF NAME CHANGE:** 20031001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **DATE OF NAME CHANGE:** 20030910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN NATIONAL AGGRESSIVE GROWTH FUND INC
- **DATE OF NAME CHANGE:** 19931025

## Series and Classes Contracts Data

### LVIP American Century Inflation Protection Fund (Series ID: S000083646)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000247629 | Standard Class II |  |
| C000247630 | Service Class     |  |
| C000247632 | Standard Class    |  |

## Nport-Ex

**LVIP American Century Inflation Protection Fund**

**Schedule of Investments**

September 30, 2025 (unaudited)

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

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount°**<br>| **Value** <br>**(U.S. $)**<br>|
| **AGENCY MORTGAGE-BACKED SECURITIES–7.29%** | **AGENCY MORTGAGE-BACKED SECURITIES–7.29%** | **AGENCY MORTGAGE-BACKED SECURITIES–7.29%** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; 4.00% 11/1/52 | 3068343 | $2916267 |
| &nbsp;&nbsp; 5.00% 6/1/53 | 2855335 | 2838241 |
| &nbsp;&nbsp; 5.50% 10/1/54 | 3648190 | 3688640 |
| &nbsp;&nbsp; 6.00% 11/1/53 | 4359774 | 4481113 |
| Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| &nbsp;&nbsp; 4.00% 10/20/52 | 5072291 | 4812879 |
| &nbsp;&nbsp; 4.00% 4/20/54 | 5216877 | 4906939 |
| &nbsp;&nbsp; 5.00% 8/20/53 | 7598360 | 7575254 |
| &nbsp;&nbsp; 5.50% 11/20/52 | 2271329 | 2294300 |
| &nbsp;&nbsp; 5.50% 12/20/52 | 1927985 | 1955516 |
| **Total Agency** <br> **Mortgage-Backed** <br> **Securities** <br>**(Cost $34,939,582)**<br>|  | **35469149** |
| **AGENCY OBLIGATION–0.59%** | **AGENCY OBLIGATION–0.59%** | **AGENCY OBLIGATION–0.59%** |
| &nbsp;&nbsp; Federal National Mortgage <br> Association 6.63% 11/15/30<br>| 2542000 | 2873130 |
| **Total Agency Obligation** <br>**(Cost $2,857,969)**<br>|  | **2873130** |
| **ΔCORPORATE BONDS–13.48%** | **ΔCORPORATE BONDS–13.48%** | **ΔCORPORATE BONDS–13.48%** |
| **Canada–0.10%** | **Canada–0.10%** | **Canada–0.10%** |
| &nbsp;&nbsp; μRoyal Bank of Canada 4.70% <br> 8/6/31<br>| 501000 | 507559 |
|  |  | **507559** |
| **Luxembourg–0.16%** | **Luxembourg–0.16%** | **Luxembourg–0.16%** |
| &nbsp;&nbsp; Eagle Funding Luxco SARL <br> 5.50% 8/17/30<br>| 742000 | 752803 |
|  |  | **752803** |
| **United Kingdom–0.26%** | **United Kingdom–0.26%** | **United Kingdom–0.26%** |
| &nbsp;&nbsp; Nationwide Building Society <br> 4.35% 9/30/30<br>| 1290000 | 1285162 |
|  |  | **1285162** |
| **United States–12.96%** | **United States–12.96%** | **United States–12.96%** |
| AbbVie, Inc. 2.95% 11/21/26 | 1200000 | 1186224 |
| &nbsp;&nbsp; μAmerican Express Co. 4.35% <br> 7/20/29<br>| 1240000 | 1247316 |
| &nbsp;&nbsp; American International <br> Group, Inc. 5.13% 3/27/33<br>| 1775000 | 1825987 |
| Amgen, Inc. 5.25% 3/2/33 | 1145000 | 1186038 |
| Apple, Inc. 4.20% 5/12/30 | 1312000 | 1326147 |
| Athene Global Funding |  |  |
| &nbsp;&nbsp; 4.86% 8/27/26 | 1330000 | 1338628 |
| &nbsp;&nbsp; 5.35% 7/9/27 | 1025000 | 1044181 |
| &nbsp;&nbsp; Atlas Warehouse Lending Co. <br> LP 6.25% 1/15/30<br>| 1015000 | 1043630 |
| &nbsp;&nbsp; Black Hills Corp. 4.55% <br> 1/31/31<br>| 1906000 | 1905909 |
| μCapital One Financial Corp. |  |  |
| &nbsp;&nbsp; 2.36% 7/29/32 | 1155000 | 996945 |
| &nbsp;&nbsp; 7.62% 10/30/31 | 1555000 | 1758693 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| μCharles Schwab Corp. |  |  |
| &nbsp;&nbsp; 4.00% 6/1/26 | 1567000 | $1549373 |
| &nbsp;&nbsp; 5.00% 6/1/27 | 1040000 | 1035128 |
| μCitibank NA 4.88% 11/19/27 | 2245000 | 2262488 |
| μCitigroup, Inc. 5.83% 2/13/35 | 670000 | 694891 |
| &nbsp;&nbsp; Consumers Energy Co. 4.50% <br> 1/15/31<br>| 1690000 | 1707268 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp; 5.13% 2/21/30 | 1200000 | 1230101 |
| &nbsp;&nbsp; 5.25% 2/21/33 | 760000 | 777591 |
| &nbsp;&nbsp; Dell International LLC/EMC <br> Corp. 4.15% 2/15/29<br>| 790000 | 788109 |
| &nbsp;&nbsp; Evergy Kansas Central, Inc. <br> 4.70% 3/13/28<br>| 1250000 | 1265267 |
| &nbsp;&nbsp; Fortitude Global Funding <br> 4.63% 10/6/28<br>| 825000 | 825521 |
| &nbsp;&nbsp; GA Global Funding Trust <br> 4.40% 9/23/27<br>| 1360000 | 1362754 |
| HCA, Inc. 5.25% 3/1/30 | 1235000 | 1275041 |
| &nbsp;&nbsp; Highwoods Realty LP 3.88% <br> 3/1/27<br>| 1375000 | 1361127 |
| &nbsp;&nbsp; HPS Corporate Lending Fund <br> 4.90% 9/11/28<br>| 535000 | 532246 |
| &nbsp;&nbsp; Hyatt Hotels Corp. 5.75% <br> 3/30/32<br>| 247000 | 257601 |
| Intel Corp. 2.45% 11/15/29 | 1050000 | 975053 |
| &nbsp;&nbsp; Jersey Central Power & Light <br> Co. 4.40% 1/15/31<br>| 1349000 | 1344239 |
| μJPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp; 4.51% 10/22/28 | 552000 | 556716 |
| &nbsp;&nbsp; 5.00% 7/22/30 | 1375000 | 1410397 |
| &nbsp;&nbsp; 5.30% 7/24/29 | 740000 | 762444 |
| &nbsp;&nbsp; 6.09% 10/23/29 | 1524000 | 1608239 |
| &nbsp;&nbsp; Ladder Capital Finance <br> Holdings LLLP/Ladder <br> Capital Finance Corp. 4.25% <br> 2/1/27<br>| 1475000 | 1461973 |
| &nbsp;&nbsp; Lowe's Cos., Inc. 4.25% <br> 3/15/31<br>| 1690000 | 1679063 |
| &nbsp;&nbsp; μM&T Bank Corp. 5.13% <br> 11/1/26<br>| 56000 | 55755 |
| Mars, Inc. 5.20% 3/1/35 | 1743000 | 1781584 |
| &nbsp;&nbsp; μMorgan Stanley 4.99% <br> 4/12/29<br>| 642000 | 654823 |
| &nbsp;&nbsp; North Haven Private Income <br> Fund LLC 5.13% 9/25/28<br>| 880000 | 875454 |
| &nbsp;&nbsp; Oncor Electric Delivery Co. <br> LLC 4.30% 5/15/28<br>| 2205000 | 2218775 |
| Oracle Corp. 4.45% 9/26/30 | 1241000 | 1240391 |
| &nbsp;&nbsp; Realty Income Corp. 3.95% <br> 2/1/29<br>| 725000 | 721406 |
| &nbsp;&nbsp; Roche Holdings, Inc. 2.31% <br> 3/10/27<br>| 1930000 | 1889798 |
| &nbsp;&nbsp; Royalty Pharma PLC 4.45% <br> 3/25/31<br>| 1686000 | 1671948 |

---

*LVIP American Century Inflation Protection Fund–1*

------

**LVIP American Century Inflation Protection Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** | **ΔCORPORATE BONDS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp; Sprint Capital Corp. 6.88% <br> 11/15/28<br>| 1135000 | $1220861 |
| Synopsys, Inc. |  |  |
| &nbsp;&nbsp; 4.65% 4/1/28 | 760000 | 768506 |
| &nbsp;&nbsp; 4.85% 4/1/30 | 755000 | 769021 |
| &nbsp;&nbsp; μTruist Financial Corp. 6.12% <br> 10/28/33<br>| 2034000 | 2191458 |
| μU.S. Bank NA 4.51% 10/22/27 | 1340000 | 1344339 |
| μWells Fargo & Co. |  |  |
| &nbsp;&nbsp; 3.90% 3/15/26 | 1560000 | 1544850 |
| &nbsp;&nbsp; 4.97% 4/23/29 | 975000 | 993565 |
| &nbsp;&nbsp; 5.61% 4/23/36 | 175000 | 183654 |
| &nbsp;&nbsp; 6.30% 10/23/29 | 275000 | 291270 |
| &nbsp;&nbsp; Wisconsin Electric Power Co. <br> 4.15% 10/15/30<br>| 1014000 | 1009717 |
|  |  | **63009503** |
| **Total Corporate Bonds** <br>**(Cost $64,925,154)**<br>|  | **65555027** |
| **MUNICIPAL BONDS–0.52%** | **MUNICIPAL BONDS–0.52%** | **MUNICIPAL BONDS–0.52%** |
| &nbsp;&nbsp; Golden State Tobacco <br> Securitization Corp. Series <br> B 2.75% 6/1/34<br>| 1120000 | 993525 |
| &nbsp;&nbsp; University of California Series <br> BG 1.32% 5/15/27<br>| 1605000 | 1546074 |
| **Total Municipal Bonds** <br>**(Cost $2,658,930)**<br>|  | **2539599** |
| **NON-AGENCY ASSET-BACKED SECURITIES–3.05%** | **NON-AGENCY ASSET-BACKED SECURITIES–3.05%** | **NON-AGENCY ASSET-BACKED SECURITIES–3.05%** |
| &nbsp;&nbsp; Blackbird Capital II Aircraft <br> Lease Ltd. Series 2021-1A <br> Class A 2.44% 7/15/46<br>| 906352 | 856204 |
| &nbsp;&nbsp; •Cedar Funding VIII CLO Ltd. <br> Series 2017-8A Class ARR <br> 5.54% (3 mo. USD Term <br> SOFR + 1.22%) 1/17/38<br>| 2025000 | 2025026 |
| &nbsp;&nbsp; Dryden 43 Senior Loan Fund <br> Series 2016-43A Class B2R2 <br> 3.09% 4/20/34<br>| 3000000 | 2781381 |
| &nbsp;&nbsp; •Elmwood CLO 39 Ltd. Series <br> 2025-2A Class A1 5.42% (3 <br> mo. USD Term SOFR + <br> 1.14%) 4/17/38<br>| 2525000 | 2525101 |
| &nbsp;&nbsp; FirstKey Homes Trust Series <br> 2020-SFR2 Class D 1.97% <br> 10/19/37<br>| 1500000 | 1493339 |
| &nbsp;&nbsp; Goodgreen Trust Series <br> 2020-1A Class A 2.63% <br> 4/15/55<br>| 751544 | 625636 |
| &nbsp;&nbsp; GoodLeap Sustainable Home <br> Solutions Trust Series <br> 2021-4GS Class A 1.93% <br> 7/20/48<br>| 763930 | 631864 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; Hilton Grand Vacations Trust <br> Series 2019-AA Class B <br> 2.54% 7/25/33<br>| 357220 | $354281 |
| &nbsp;&nbsp; •Palmer Square CLO Ltd. <br> Series 2024-4A Class A2 <br> 5.82% (3 mo. USD Term <br> SOFR + 1.50%) 1/15/38<br>| 775000 | 776018 |
| &nbsp;&nbsp; Sierra Timeshare Receivables <br> Funding LLC Series 2021-1A <br> Class B 1.34% 11/20/37<br>| 580719 | 575927 |
| &nbsp;&nbsp; Subway Funding LLC Series <br> 2024-1A Class A2II 6.27% <br> 7/30/54<br>| 716585 | 735017 |
| &nbsp;&nbsp; Switch ABS Issuer LLC Series <br> 2024-2A Class A2 5.44% <br> 6/25/54<br>| 825000 | 829165 |
| &nbsp;&nbsp; •Towd Point Mortgage Trust <br> Series 2024-CES3 Class A1 <br> 6.29% 5/25/64<br>| 611390 | 619080 |
| **Total Non-Agency** <br> **Asset-Backed Securities** <br>**(Cost $15,182,368)**<br>|  | **14828039** |
| **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–9.21%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–9.21%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–9.21%** |
| &nbsp;&nbsp; ABN AMRO Mortgage Corp. <br> Series 2003-4 Class A4 5.50% <br> 3/25/33<br>| 5606 | 5530 |
| &nbsp;&nbsp; •Agate Bay Mortgage Trust <br> Series 2015-7 Class A3 3.50% <br> 10/25/45<br>| 408512 | 374918 |
| •Angel Oak Mortgage Trust | •Angel Oak Mortgage Trust | •Angel Oak Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2019-5 Class A3 2.92% <br> 10/25/49<br>| 101047 | 99701 |
| &nbsp;&nbsp;&nbsp; Series 2019-6 Class A3 2.93% <br> 11/25/59<br>| 109914 | 108531 |
| •Arroyo Mortgage Trust | •Arroyo Mortgage Trust | •Arroyo Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-1R Class A2 <br> 1.48% 10/25/48<br>| 284552 | 256069 |
| &nbsp;&nbsp;&nbsp; Series 2021-1R Class A3 <br> 1.64% 10/25/48<br>| 232135 | 208693 |
| &nbsp;&nbsp; Bank5 Series 2024-5YR7 <br> Class A3 5.77% 6/15/57<br>| 1983000 | 2067763 |
| &nbsp;&nbsp; φBRAVO Residential Funding <br> Trust Series 2024-NQM4 <br> Class A1B 4.35% 1/25/60<br>| 1429004 | 1401937 |
| &nbsp;&nbsp; Cendant Mortgage Corp. <br> Series 2003-6 Class A3 5.25% <br> 7/25/33<br>| 63346 | 61836 |
| •Chase Home Lending Mortgage Trust | •Chase Home Lending Mortgage Trust | •Chase Home Lending Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-10 Class A4 <br> 6.00% 10/25/55<br>| 1224933 | 1240396 |
| &nbsp;&nbsp;&nbsp; Series 2024-2 Class A4A <br> 6.00% 2/25/55<br>| 502020 | 508118 |
| &nbsp;&nbsp;&nbsp; Series 2024-7 Class A4 6.00% <br> 6/25/55<br>| 2009266 | 2032553 |

---

*LVIP American Century Inflation Protection Fund–2*

------

**LVIP American Century Inflation Protection Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| •Chase Home Lending Mortgage Trust (continued) | •Chase Home Lending Mortgage Trust (continued) | •Chase Home Lending Mortgage Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2024-9 Class A4 5.50% <br> 9/25/55<br>| 1306741 | $1312751 |
| &nbsp;&nbsp;&nbsp; Series 2024-9 Class A6 5.50% <br> 9/25/55<br>| 513525 | 514330 |
| &nbsp;&nbsp;&nbsp; Series 2025-10 Class A4A <br> 5.50% 7/25/56<br>| 1725000 | 1737815 |
| &nbsp;&nbsp;&nbsp; Series 2025-9 Class A4A <br> 5.50% 6/25/56<br>| 2418136 | 2433484 |
| &nbsp;&nbsp; •Citigroup Mortgage Loan <br> Trust Series 2024-CMI1 <br> Class A11 5.50% 6/25/54<br>| 1949319 | 1958033 |
| &nbsp;&nbsp; φCross Mortgage Trust Series <br> 2025-H5 Class A2 5.76% <br> 7/25/70<br>| 1859916 | 1877077 |
| •CSMC Trust | •CSMC Trust | •CSMC Trust |
| &nbsp;&nbsp;&nbsp; Series 2015-WIN1 Class A10 <br> 3.50% 12/25/44<br>| 180394 | 167798 |
| &nbsp;&nbsp;&nbsp; Series 2021-NQM2 Class A3 <br> 1.54% 2/25/66<br>| 367578 | 331852 |
| &nbsp;&nbsp; •GCAT Trust Series 2024-INV3 <br> Class A6 5.50% 9/25/54<br>| 853345 | 857867 |
| JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2014-5 Class A1 2.60% <br> 10/25/29<br>| 177388 | 174170 |
| &nbsp;&nbsp;&nbsp; •Series 2016-1 Class A7 3.50% <br> 5/25/46<br>| 1028183 | 936679 |
| &nbsp;&nbsp;&nbsp; •Series 2023-7 Class A4A <br> 5.50% 2/25/54<br>| 1558500 | 1559188 |
| &nbsp;&nbsp;&nbsp; •Series 2024-10 Class A4 <br> 5.50% 3/25/55<br>| 1210173 | 1216350 |
| &nbsp;&nbsp;&nbsp; •Series 2024-10 Class A6 <br> 5.50% 3/25/55<br>| 875534 | 877534 |
| &nbsp;&nbsp;&nbsp; •Series 2024-11 Class A4 <br> 6.00% 4/25/55<br>| 1906522 | 1932032 |
| &nbsp;&nbsp;&nbsp; •Series 2024-11 Class A6 <br> 6.00% 4/25/55<br>| 766357 | 772707 |
| &nbsp;&nbsp;&nbsp; •Series 2024-5 Class A6 6.00% <br> 11/25/54<br>| 849546 | 854520 |
| &nbsp;&nbsp;&nbsp; •Series 2024-6 Class A6 6.00% <br> 12/25/54<br>| 545205 | 548291 |
| &nbsp;&nbsp;&nbsp; •Series 2024-9 Class A6 5.50% <br> 2/25/55<br>| 872010 | 873447 |
| &nbsp;&nbsp;&nbsp; •Series 2024-INV1 Class A4 <br> 6.00% 4/25/55<br>| 1097741 | 1114486 |
| &nbsp;&nbsp;&nbsp; φSeries 2025-7MPR Class A1D <br> 5.32% 2/25/56<br>| 1319347 | 1320309 |
| &nbsp;&nbsp; •Morgan Stanley Residential <br> Mortgage Loan Trust Series <br> 2025-1 Class A1 6.00% <br> 3/25/55<br>| 972062 | 985808 |
| &nbsp;&nbsp; •PMT Loan Trust Series <br> 2025-J2 Class A9 5.50% <br> 8/25/56<br>| 2740571 | 2758724 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| &nbsp;&nbsp; •Provident Funding Mortgage <br> Trust Series 2024-1 Class A3 <br> 5.50% 12/25/54<br>| 1910269 | $1921767 |
| &nbsp;&nbsp; •Rate Mortgage Trust Series <br> 2024-J3 Class A8 5.50% <br> 10/25/54<br>| 441502 | 442719 |
| &nbsp;&nbsp; •RCKT Mortgage Trust Series <br> 2024-CES3 Class A1A 6.59% <br> 5/25/44<br>| 441798 | 448961 |
| •Sequoia Mortgage Trust | •Sequoia Mortgage Trust | •Sequoia Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2017-7 Class A7 3.50% <br> 10/25/47<br>| 688291 | 622065 |
| &nbsp;&nbsp;&nbsp; Series 2024-10 Class A11 <br> 5.50% 11/25/54<br>| 793751 | 795424 |
| &nbsp;&nbsp;&nbsp; Series 2024-10 Class A5 <br> 5.50% 11/25/54<br>| 703889 | 707392 |
| &nbsp;&nbsp;&nbsp; Series 2024-6 Class A11 <br> 6.00% 7/27/54<br>| 429257 | 432159 |
| &nbsp;&nbsp;&nbsp; Series 2024-9 Class A5 5.50% <br> 10/25/54<br>| 977856 | 982011 |
| &nbsp;&nbsp;&nbsp; Series 2025-8 Class A4 5.50% <br> 9/25/55<br>| 1442130 | 1453335 |
| &nbsp;&nbsp; •STAR Trust Series 2021-1 <br> Class A1 1.22% 5/25/65<br>| 670083 | 637175 |
| &nbsp;&nbsp; •Verus Securitization Trust <br> Series 2021-1 Class A3 1.16% <br> 1/25/66<br>| 657722 | 602344 |
| &nbsp;&nbsp; •Vista Point Securitization <br> Trust Series 2020-2 Class A3 <br> 2.50% 4/25/65<br>| 250562 | 242470 |
| **Total Non-Agency** <br> **Collateralized Mortgage** <br> **Obligations** <br>**(Cost $44,853,281)**<br>|  | **44769119** |
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–2.03%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–2.03%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–2.03%** |
| &nbsp;&nbsp; Aligned Data Centers <br> Issuer LLC Series 2021-1A <br> Class B 2.48% 8/15/46<br>| 1500000 | 1461772 |
| &nbsp;&nbsp; Bank5 Trust Series 2024-5YR6 <br> Class A3 6.23% 5/15/57<br>| 1061000 | 1119693 |
| &nbsp;&nbsp; BBCMS Mortgage Trust Series <br> 2024-5C27 Class A3 6.01% <br> 7/15/57<br>| 519000 | 545407 |
| &nbsp;&nbsp; •Benchmark Mortgage Trust <br> Series 2024-V8 Class A3 <br> 6.19% 7/15/57<br>| 1831000 | 1933257 |
| &nbsp;&nbsp; •BFLD Trust Series 2025-FPM <br> Class A 5.01% 10/10/30<br>| 2023000 | 2035581 |

---

*LVIP American Century Inflation Protection Fund–3*

------

**LVIP American Century Inflation Protection Fund**

**Schedule of Investments (continued)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| &nbsp;&nbsp; JP Morgan Chase Commercial <br> Mortgage Securities Trust <br> Series 2018-AON Class A <br> 4.13% 7/5/31<br>|  | 3055000 | $2784925 |
| **Total Non-Agency** <br> **Commercial** <br> **Mortgage-Backed** <br> **Securities** <br>**(Cost $10,133,205)**<br>|  |  | **9880635** |
| **ΔSOVEREIGN BONDS–8.07%** | **ΔSOVEREIGN BONDS–8.07%** | **ΔSOVEREIGN BONDS–8.07%** | **ΔSOVEREIGN BONDS–8.07%** |
| **Canada–2.32%** | **Canada–2.32%** | **Canada–2.32%** | **Canada–2.32%** |
| Canada Government Bonds | Canada Government Bonds | Canada Government Bonds | Canada Government Bonds |
| &nbsp;&nbsp; 1.50% 6/1/31 | CAD | 6050000 | 4047418 |
| &nbsp;&nbsp; 1.50% 12/1/31 | CAD | 4080000 | 2705078 |
| &nbsp;&nbsp; 2.75% 3/1/30 | CAD | 750000 | 540273 |
| &nbsp;&nbsp; 2.75% 9/1/30 | CAD | 5550000 | 3989763 |
|  |  |  | **11282532** |
| **New Zealand–2.01%** | **New Zealand–2.01%** | **New Zealand–2.01%** | **New Zealand–2.01%** |
| New Zealand Government Bonds | New Zealand Government Bonds | New Zealand Government Bonds | New Zealand Government Bonds |
| &nbsp;&nbsp; 1.50% 5/15/31 | NZD | 9400000 | 4873314 |
| &nbsp;&nbsp; 2.00% 5/15/32 | NZD | 9400000 | 4881679 |
|  |  |  | **9754993** |
| **United Kingdom–3.74%** | **United Kingdom–3.74%** | **United Kingdom–3.74%** | **United Kingdom–3.74%** |
| U.K. Gilts 4.38% 3/7/30 | GBP | 11100000 | 15068508 |
| &nbsp;&nbsp; U.K. Inflation-Linked Gilts <br> 0.13% 3/22/26<br>| GBP | 2359080 | 3134931 |
|  |  |  | **18203439** |
| **Total Sovereign Bonds** <br>**(Cost $39,441,730)**<br>|  |  | **39240964** |
| **U.S. TREASURY OBLIGATIONS–52.49%** | **U.S. TREASURY OBLIGATIONS–52.49%** | **U.S. TREASURY OBLIGATIONS–52.49%** | **U.S. TREASURY OBLIGATIONS–52.49%** |
| U.S. Treasury Inflation Indexed Bonds | U.S. Treasury Inflation Indexed Bonds | U.S. Treasury Inflation Indexed Bonds | U.S. Treasury Inflation Indexed Bonds |
| &nbsp;&nbsp; 0.13% 2/15/51 |  | 6513938 | 3609273 |
| &nbsp;&nbsp; 0.13% 2/15/52 |  | 5558412 | 3009501 |
| &nbsp;&nbsp; 0.25% 2/15/50 |  | 10064325 | 5947236 |
| &nbsp;&nbsp; 0.63% 2/15/43 |  | 11747456 | 8915678 |
| &nbsp;&nbsp; 0.75% 2/15/42 |  | 6027151 | 4776303 |
| &nbsp;&nbsp; 0.75% 2/15/45 |  | 13649310 | 10170417 |
| &nbsp;&nbsp; 0.88% 2/15/47 |  | 6791365 | 5011319 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **U.S. TREASURY OBLIGATIONS (continued)** | **U.S. TREASURY OBLIGATIONS (continued)** | **U.S. TREASURY OBLIGATIONS (continued)** |
| U.S. Treasury Inflation Indexed Bonds (continued) | U.S. Treasury Inflation Indexed Bonds (continued) | U.S. Treasury Inflation Indexed Bonds (continued) |
| &nbsp;&nbsp; 1.00% 2/15/46 | 10688429 | $8236248 |
| &nbsp;&nbsp; 1.00% 2/15/48 | 3536892 | 2648417 |
| &nbsp;&nbsp; 1.00% 2/15/49 | 513492 | 378601 |
| &nbsp;&nbsp; 1.38% 2/15/44 | 13236777 | 11312658 |
| &nbsp;&nbsp; 1.50% 2/15/53 | 4401216 | 3520888 |
| &nbsp;&nbsp; 1.75% 1/15/28 | 8258631 | 8393511 |
| &nbsp;&nbsp; 2.50% 1/15/29 | 5830209 | 6091562 |
| &nbsp;&nbsp; 3.38% 4/15/32 | 909950 | 1018239 |
| &nbsp;&nbsp; 3.63% 4/15/28 | 4385917 | 4665316 |
| U.S. Treasury Inflation Indexed Notes | U.S. Treasury Inflation Indexed Notes | U.S. Treasury Inflation Indexed Notes |
| &nbsp;&nbsp; 0.13% 1/15/30 | 13848716 | 13220124 |
| &nbsp;&nbsp; 0.13% 7/15/30 | 6425592 | 6108956 |
| &nbsp;&nbsp; 0.13% 7/15/31 | 26455237 | 24703333 |
| &nbsp;&nbsp; 0.13% 1/15/32 | 9579013 | 8819415 |
| &nbsp;&nbsp; 0.38% 7/15/27 | 7857273 | 7803863 |
| &nbsp;&nbsp; 0.50% 1/15/28 | 13357818 | 13202545 |
| &nbsp;&nbsp; 0.63% 7/15/32 | 9839430 | 9311859 |
| &nbsp;&nbsp; 0.88% 1/15/29 | 4541586 | 4506779 |
| &nbsp;&nbsp; 1.13% 1/15/33 | 6669368 | 6463625 |
| &nbsp;&nbsp; 1.25% 4/15/28 | 3769325 | 3783717 |
| &nbsp;&nbsp; 1.38% 7/15/33 | 25729210 | 25331389 |
| &nbsp;&nbsp; 1.63% 10/15/29 | 513310 | 523463 |
| &nbsp;&nbsp; 1.75% 1/15/34 | 4755232 | 4777373 |
| &nbsp;&nbsp; 1.88% 7/15/34 | 30111997 | 30548976 |
| &nbsp;&nbsp; 1.88% 7/15/35 | 2012115 | 2028405 |
| &nbsp;&nbsp; 2.13% 4/15/29 | 3550858 | 3665141 |
| &nbsp;&nbsp; 2.38% 10/15/28 | 2636625 | 2746259 |
| **Total U.S. Treasury** <br> **Obligations** <br>**(Cost $277,068,393)**<br>|  | **255250389** |

---

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

---

| | | |
|:---|:---|:---|
|  | **Number of** <br>**Shares**<br>|  |
| **MONEY MARKET FUND–3.14%** | **MONEY MARKET FUND–3.14%** | **MONEY MARKET FUND–3.14%** |
| &nbsp;&nbsp; State Street Institutional <br> U.S. Government Money <br> Market Fund - Premier Class <br> (seven-day effective yield <br> 4.09%)<br>| 15255717 | 15255717 |
| **Total Money Market Fund** <br>**(Cost $15,255,717)** | **Total Money Market Fund** <br>**(Cost $15,255,717)** | **15255717** |

---

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

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

---

| | |
|:---|:---|
| **TOTAL INVESTMENTS–99.87% (Cost $507,316,329)** | **485661768** |
| **RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–0.13%** | **629486** |
| **NET ASSETS APPLICABLE TO 49,765,392 SHARES OUTSTANDING –100.00%** | **$486291254** |

---

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

------

---

| |
|:---|
| °Principal amount shown is stated in U.S. dollars unless noted that the security is denominated in another currency. |
| ΔSecurities have been classified by country of origin. |
| μFixed to variable rate investment. The rate shown reflects the fixed rate in effect at September 30, 2025. Rate will reset at a future date. |

---

*LVIP American Century Inflation Protection Fund–4*

------

**LVIP American Century Inflation Protection Fund**

**Schedule of Investments (continued)**

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

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; •Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at September 30, 2025. For securities based on a <br> published reference rate and spread, the reference rate and spread are indicated in their description above and may be subject to caps <br> and/or floors or include a multiplier. Certain variable rate securities are not based on a published reference rate and spread but are <br> determined by the issuer or agent and are based on current market conditions such as changes in current interest rate and prepayments <br> on the underlying pool of assets. These securities do not indicate a reference rate and spread in their description above. |
| φStep coupon bond. Coupon increases/decreases periodically based on predetermined schedule. Stated rate in effect at September 30, 2025. |

---

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

The following foreign currency exchange contracts, futures contracts and swap contracts were outstanding at September 30, 2025:<br>

**Foreign Currency Exchange Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to**<br> **Receive (Deliver)** | **Contracts to**<br> **Receive (Deliver)** | **In Exchange For** | **In Exchange For** | **Settlement Date** | **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| BOA | CAD | &nbsp;&nbsp; (3061279)<br>| USD | &nbsp;&nbsp; 2233688 | 12/17/25 | &nbsp;&nbsp; $25890 | &nbsp;&nbsp; $— |
| BOA | CAD | &nbsp;&nbsp; 822433 | USD | &nbsp;&nbsp; (593581)<br>| 12/17/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (441)<br>|
| GS | CAD | &nbsp;&nbsp; 686990 | USD | &nbsp;&nbsp; (497711)<br>| 12/17/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2252)<br>|
| GS | GBP | &nbsp;&nbsp; (428795)<br>| USD | &nbsp;&nbsp; 577262 | 12/17/25 | &nbsp;&nbsp; 524 | &nbsp;&nbsp; — |
| MSC | CAD | &nbsp;&nbsp; (19674972)<br>| USD | &nbsp;&nbsp; 14290760 | 12/17/25 | &nbsp;&nbsp; 101146 | &nbsp;&nbsp; — |
| MSC | CAD | &nbsp;&nbsp; 2467162 | USD | &nbsp;&nbsp; (1782414)<br>| 12/17/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (3094)<br>|
| MSC | CAD | &nbsp;&nbsp; 3349944 | USD | &nbsp;&nbsp; (2411799)<br>| 12/17/25 | &nbsp;&nbsp; 4184 | &nbsp;&nbsp; — |
| MSC | GBP | &nbsp;&nbsp; (12869410)<br>| USD | &nbsp;&nbsp; 17445632 | 12/17/25 | &nbsp;&nbsp; 135991 | &nbsp;&nbsp; — |
| MSC | NZD | &nbsp;&nbsp; (16517223)<br>| USD | &nbsp;&nbsp; 9759796 | 12/17/25 | &nbsp;&nbsp; 154406 | &nbsp;&nbsp; — |
| **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | &nbsp;&nbsp; $422141 | &nbsp;&nbsp; $(5787)<br>|

---

**Futures Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy (Sell)** | **Contracts to Buy (Sell)** | **Notional** <br>**Amount**<br>| **Notional** <br>**Cost (Proceeds)**<br>| **Expiration** <br>**Date**<br>| **Value/** <br>**Unrealized** <br>**Appreciation**<sup>1</sup> <br>| **Value/** <br>**Unrealized** <br>**Depreciation**<sup>1</sup> <br>|
| **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** |
| 46 | CBOT 10 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; $5175000 | &nbsp;&nbsp; $5219746 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(44746)<br>|
| 81 | CBOT 5 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; 8844820 | &nbsp;&nbsp; 8863423 | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (18603)<br>|
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(63349)<br>|

---

**Swap Contracts**

**Inflation Swap Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Notional**<br> **Amount**<sup>2</sup> <br>| **Fixed**<br> **Interest**<br> **Rate Paid**<br> **(Received)**<br>| **Termination**<br> **Date**<br>| **Value** | **Unrealized**<br> **Appreciation**<sup>1</sup> <br>| **Unrealized**<br> **Depreciation**<sup>1</sup> <br>|
| **Centrally Cleared:** |  |  |  |  |  |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 1000000 | 1.88% | 11/21/29 | $172316 | $172316 | $— |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 6100000 | 1.80% | 10/21/29 | 1098075 | 1098075 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 18300000 | 2.37% | 2/2/29 | 339172 | 339172 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 4900000 | 2.49% | 2/2/34 | 51507 | 51507 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 3400000 | 2.66% | 8/2/30 | 11755 | 11755 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 10800000 | 2.65% | 8/2/33 | (19051) |  | (19051) |

---

*LVIP American Century Inflation Protection Fund–5*

------

**LVIP American Century Inflation Protection Fund**

**Schedule of Investments (continued)**

**Swap Contracts**

**Inflation Swap Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Notional**<br> **Amount**<sup>2</sup><br>| **Fixed**<br> **Interest**<br> **Rate Paid**<br> **(Received)**<br>| **Termination**<br> **Date**<br>| **Value** | **Unrealized**<br> **Appreciation**<sup>1</sup><br>| **Unrealized**<br> **Depreciation**<sup>1</sup><br>|
| **Centrally Cleared:**<br> **(continued)** |  |  |  |  |  |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 8000000 | 1.63% | 6/25/30 | $1695773 | $1695773 | $— |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 11500000 | 2.31% | 3/28/28 | 1400509 | 1400509 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 5000000 | 1.87% | 11/25/29 | 866463 | 866463 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 3200000 | 2.62% | 3/2/33 | 22371 | 22371 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 5000000 | 2.15% | 11/20/27 | 724973 | 724973 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 10500000 | 2.44% | 2/2/30 | 238323 | 238323 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 10000000 | 2.50% | 9/3/31 | 863572 | 863572 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 5000000 | 2.47% | 5/3/28 | 87355 | 87355 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 3500000 | 2.50% | 5/3/33 | 45966 | 45966 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 10000000 | 2.50% | 8/9/26 | 144206 | 144206 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 3000000 | 1.29% | 5/19/30 | 696497 | 696497 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 11700000 | 2.39% | 8/2/29 | 149421 | 149421 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 1400000 | 2.52% | 11/4/29 | 11992 | 11992 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 1400000 | 2.52% | 11/4/29 | 11992 | 11992 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 5800000 | 2.56% | 2/4/30 | 33840 | 33840 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 5000000 | 2.42% | 5/2/32 | 44452 | 44452 |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 4100000 | 2.60% | 9/3/35 | (16107) |  | (16107) |

---

*LVIP American Century Inflation Protection Fund–6*

------

**LVIP American Century Inflation Protection Fund**

**Schedule of Investments (continued)**

**Swap Contracts**

**Inflation Swap Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Notional**<br> **Amount**<sup>2</sup><br>| **Fixed**<br> **Interest**<br> **Rate Paid**<br> **(Received)**<br>| **Termination**<br> **Date**<br>| **Value** | **Unrealized**<br> **Appreciation**<sup>1</sup><br>| **Unrealized**<br> **Depreciation**<sup>1</sup><br>|
| **Centrally Cleared:**<br> **(continued)** |  |  |  |  |  |  |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 9700000 | 2.66% | 8/4/30 | $3984 | $3984 | $— |
| &nbsp;&nbsp; Receive amounts based on Infla-<br> tion USA-CPI-U Index and pay <br> fixed rate coupon at maturity<br>| 2600000 | 2.58% | 8/4/35 | (1713) |  | (1713) |
|  |  |  |  |  | 8714514 | (36871) |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Notional**<br> **Amount**<sup>2</sup> <br>| **Fixed**<br> **Interest**<br> **Rate Paid**<br> **(Received)**<br>| **Termination**<br> **Date**<br>| **Value** | **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| **Over-The-Counter:** |  |  |  |  |  |  |
| &nbsp;&nbsp; BOA–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 1750000 | 2.22% | 4/13/27 | $228479 | $228479 | $— |
| &nbsp;&nbsp; BOA–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 7000000 | 2.24% | 4/11/27 | 896474 | 896474 |  |
| &nbsp;&nbsp; BOA–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 4000000 | 2.24% | 4/28/27 | 515632 | 515632 |  |
| &nbsp;&nbsp; BRC–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 15100000 | 2.90% | 12/21/27 | (1763834) |  | (1763834) |
| &nbsp;&nbsp; BRC–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 3600000 | 2.78% | 7/2/44 | (196502) |  | (196502) |
| &nbsp;&nbsp; GSB–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 1500000 | 1.87% | 5/23/26 | 268816 | 268816 |  |
| &nbsp;&nbsp; GSB–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 12500000 | 1.77% | 6/16/26 | 2357976 | 2357976 |  |
| &nbsp;&nbsp; GSI–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 2500000 | 2.28% | 11/16/26 | 321030 | 321030 |  |

---

*LVIP American Century Inflation Protection Fund–7*

------

**LVIP American Century Inflation Protection Fund**

**Schedule of Investments (continued)**

**Swap Contracts**

**Inflation Swap Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Notional**<br> **Amount**<sup>2</sup><br>| **Fixed**<br> **Interest**<br> **Rate Paid**<br> **(Received)**<br>| **Termination**<br> **Date**<br>| **Value** | **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| **Over-The-Counter:**<br> **(continued)** |  |  |  |  |  |  |
| &nbsp;&nbsp; GSI–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 2500000 | 2.25% | 11/15/26 | $331581 | $331581 | $— |
| &nbsp;&nbsp; GSI–Receive amounts based on <br> Inflation USA-CPI-U Index and <br> pay fixed rate coupon at matu-<br> rity<br>| 13000000 | 1.92% | 5/31/26 | 2245661 | 2245661 |  |
|  |  |  |  |  | 7165649 | (1960336) |
| **Total Inflation Swap Contracts** | **Total Inflation Swap Contracts** | **Total Inflation Swap Contracts** | **Total Inflation Swap Contracts** | $13882956 | $15880163 | $(1997207) |

---

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

The use of foreign currency exchange contracts, futures contracts and swap contracts involves elements of market risk and risks in excess of the <br> amounts recognized in the financial statements. The foreign currency exchange contracts and notional amounts presented above represent the <br> Fund's total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund's net assets.<br>

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

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Includes cumulative appreciation (depreciation) of futures and centrally cleared swap contracts from the date the contracts were opened <br> through September 30, 2025. |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>2</sup> Notional amount shown is stated in U.S. dollars unless noted that the swap is denominated in another currency. |

---

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

---

| |
|:---|
| **Summary of Abbreviations:** |
| BOA–Bank of America |
| BRC–Barclays Bank |
| CAD–Canadian Dollar |
| CBOT–Chicago Board of Trade |
| CLO–Collateralized Loan Obligation |
| GBP–British Pound Sterling |
| GS–Goldman Sachs |
| GSB–Goldman Sachs Bank USA |
| GSI–Goldman Sachs International |
| MSC–Morgan Stanley & Co. |
| NZD–New Zealand Dollar |
| SOFR–Secured Overnight Financing Rate |
| USA-CPI-U–United States Consumer Price Index for All Urban Consumers |
| USD–United States Dollar |

---

*LVIP American Century Inflation Protection Fund–8*

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

- **b. Investment Company Act file number:** 811-08090

- **c. CIK number of Registrant:** 0000914036

- **d. LEI of Registrant:** 3EICVM5HD7FVBIM8WO57

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

  - **Street Address 1:** 1301 S. Harrison Street

  - **City:** FORT WAYNE

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46802

  - **Telephone number:** 260-455-2000

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

- **a. Name of Series:** LVIP American Century Inflation Protection Fund

- **b. EDGAR series identifier (if any):** S000083646

- **c. LEI of Series:** 25490053PUT7EA1MEC34

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $509041591.70

**Total Liabilities:** $22576104.09

**Net Assets:** $486465487.61

**Delayed Delivery Securities:** $4240074.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -314.94000000 | **1-Year:** -8116.22000000 | **5-Year:** -22977.87000000 | **10-Year:** -6755.41000000 | **30-Year:** -860.38000000

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

- **3-Month:** -68.08000000 | **1-Year:** -186.55000000 | **5-Year:** -120.18000000 | **10-Year:** -194.87000000 | **30-Year:** -14.67000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000247629 | 0.14%                | 1.55%                | 0.54%                |
| Class ID C000247630 | 0.13%                | 1.53%                | 0.53%                |
| Class ID C000247632 | 0.15%                | 1.56%                | 0.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-529179.94              | $-1516609.98                               |
| Month 2  | $-846832.39              | $5533687.12                                |
| Month 3  | $-5856.86                | $1524506.36                                |

**Designated Index Information**

- **Index Name:** Bloomberg US Treasury US TIPS TR USD Index

- **Index Identifier:** LBUTTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CVS HEALTH CORP                                    | CVS Health Corp                                                                                                                            | CUSIP: 126650DT4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1230100.55   | 0.25%             | 2030-02-21      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                | PURCHASED USD / SOLD CAD                                                                                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $70331.92     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MARS INC                                           | Mars Inc                                                                                                                                   | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1743000 | PA      | $1781583.97   | 0.37%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLF031DE9 IRS USD R V 12MUSCPI SLF031DE9_INF CCPINFLATIONZERO / Short: BLF031DE9 IRS USD P F  2.30800 SLF031DE9_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  11500000 | OU      | $1400353.50   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CJH5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2636625 | PA      | $2746258.90   | 0.56%             | 2028-10-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                                  | Cedar Funding VIII Clo Ltd                                                                                                                 | CUSIP: 15032EAY5<br>LEI: 549300PTCF9P2JDL1E69 | Long             | ABS-CBDO         | CORP              | KY        |   2025000 | PA      | $2025026.33   | 0.42%             | 2038-01-17      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                       | Synopsys Inc                                                                                                                               | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    755000 | PA      | $769021.00    | 0.16%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810TE8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5558412 | PA      | $3009500.68   | 0.62%             | 2052-02-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                           | Capital One Financial Corp                                                                                                                 | CUSIP: 14040HCG8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $996945.36    | 0.20%             | 2032-07-29      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust Series 2024-5                                                                                                     | CUSIP: 46658RAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    849546 | PA      | $854520.10    | 0.18%             | 2054-11-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                             | Sequoia Mortgage Trust 2024-10                                                                                                             | CUSIP: 81749QAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    703889 | PA      | $707391.88    | 0.15%             | 2054-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                                                                                                         | CUSIP: 3618N5A58<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |         0 | PA      | $0.01         | 0.00%             | 2054-11-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                            | Dryden 43 Senior Loan Fund                                                                                                                 | CUSIP: 26245CBN2<br>LEI: 5493002P75UIPU4MC757 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2781381.00   | 0.57%             | 2034-04-20      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Federal National Mortgage Association                                                                                                      | CUSIP: 31359MGK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |   5542000 | PA      | $6263919.87   | 1.29%             | 2030-11-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810SM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10064325 | PA      | $5947236.11   | 1.22%             | 2050-02-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2023-7                                                                                                            | CUSIP: 46657DAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1558501 | PA      | $1559188.15   | 0.32%             | 2054-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| US BANK NA CINCINNATI                              | US Bank NA/Cincinnati OH                                                                                                                   | CUSIP: 90331HPP2<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1344338.53   | 0.28%             | 2027-10-22      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CCM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  26455238 | PA      | $24703333.05  | 5.08%             | 2031-07-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| ROCHE HOLDINGS INC                                 | Roche Holdings Inc                                                                                                                         | CUSIP: 771196BV3<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1889797.87   | 0.39%             | 2027-03-10      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                 | Subway Funding LLC                                                                                                                         | CUSIP: 864300AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    716585 | PA      | $735017.21    | 0.15%             | 2054-07-30      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| Blackbird Capital Aircraft                         | Blackbird Capital II Aircraft Lease Ltd                                                                                                    | CUSIP: 09229CAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    906352 | PA      | $856204.34    | 0.18%             | 2046-07-15      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| UNITED KINGDOM I/L GILT                            | United Kingdom Inflation-Linked Gilt                                                                                                       | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |   2359080 | PA      | $3134930.67   | 0.64%             | 2026-03-22      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | Wells Fargo & Co                                                                                                                           | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    175000 | PA      | $183653.95    | 0.04%             | 2036-04-23      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BL89H32V3 IRS USD R V 12MUSCPI INF CCPINFLATIONZERO / Short: BL89H32V3 IRS USD P F  2.66250 FIX CCPINFLATIONZERO                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   9700000 | OU      | $4525.15      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank5                                              | BANK5 2024-5YR7                                                                                                                            | CUSIP: 06211UBL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1983000 | PA      | $2067763.14   | 0.43%             | 2057-06-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                 | Royalty Pharma PLC                                                                                                                         | CUSIP: 78081BAT0<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |   1686000 | PA      | $1671947.86   | 0.34%             | 2031-03-25      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BL4H5FHF4 IRS USD R V 12MUSCPI SL4H5FHF4_FLO CCPINFLATIONZERO / Short: BL4H5FHF4 IRS USD P F  2.48500 SL4H5FHF4_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   4900000 | OU      | $51967.93     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| New Zealand Government Bonds                       | New Zealand Government Bonds                                                                                                               | CUSIP: 000000000<br>LEI: 549300237GPHG2AI7C34 | Long             | DBT              | NUSS              | NZ        |   9400000 | PA      | $4881679.28   | 1.00%             | 2032-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                  | Citigroup Mortgage Loan Trust 2024-CMI1                                                                                                    | CUSIP: 17332DAL8<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |   1949319 | PA      | $1958032.73   | 0.40%             | 2054-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                             | Long: SL7Z00T74 IRS USD R V 12MUSCPI SL7Z00T74_INF INFLATIONZERO / Short: SL7Z00T74 IRS USD P F  1.77000 SL7Z00T74_FIX INFLATIONZERO       | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DIR              |  | US        |  12500000 | OU      | $2357975.75   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                 | Long: SL6V46O07 IRS USD R V 12MUSCPI SL6V46O07_INF INFLATIONZERO / Short: SL6V46O07 IRS USD P F  2.21750 SL6V46O07_FIX INFLATIONZERO       | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |   1750000 | OU      | $228479.05    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ABBVIE INC                                         | AbbVie Inc                                                                                                                                 | CUSIP: 00287YBV0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1186223.80   | 0.24%             | 2026-11-21      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                                                                                                         | CUSIP: 36179XNG7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1927985 | PA      | $1955516.04   | 0.40%             | 2052-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                           | HPS Corporate Lending Fund                                                                                                                 | CUSIP: 40440VAQ8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    535000 | PA      | $532245.65    | 0.11%             | 2028-09-11      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Canada Government Bonds                            | Canada Government Bonds                                                                                                                    | CUSIP: 135087N26<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |   4080000 | PA      | $2705077.82   | 0.56%             | 2031-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CJY8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4755232 | PA      | $4777372.84   | 0.98%             | 2034-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                       | Synopsys Inc                                                                                                                               | CUSIP: 871607AB3<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    760000 | PA      | $768506.21    | 0.16%             | 2028-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2024-11                                                                                                           | CUSIP: 46659AAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1906522 | PA      | $1932032.52   | 0.40%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                 | Chase Home Lending Mortgage Trust 2025-10                                                                                                  | CUSIP: 16160BAE7<br>LEI: 529900PXR6MEGSRAOO62 | Long             | ABS-MBS          | CORP              | US        |   1725000 | PA      | $1737814.68   | 0.36%             | 2056-07-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust Series 2024-6                                                                                                     | CUSIP: 46657YAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    545205 | PA      | $548291.09    | 0.11%             | 2054-12-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | Morgan Stanley                                                                                                                             | CUSIP: 61747YFY6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    642000 | PA      | $654823.09    | 0.13%             | 2029-04-12      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                | PURCHASED CAD / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | CA        |         1 | NC      | $4184.11      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Canada Government Bonds                            | Canada Government Bonds                                                                                                                    | CUSIP: 135087T38<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |   5550000 | PA      | $3989762.88   | 0.82%             | 2030-09-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                 | Chase Home Lending Mortgage Trust Series 2025-9                                                                                            | CUSIP: 16160UAE5<br>LEI: 529900II236FJ8MBXS58 | Long             | ABS-MBS          | CORP              | US        |   2418136 | PA      | $2433484.54   | 0.50%             | 2056-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CGK1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6669368 | PA      | $6463625.12   | 1.33%             | 2033-01-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| JERSEY CENTRAL PWR & LT                            | Jersey Central Power & Light Co                                                                                                            | CUSIP: 476556DG7<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |   1349000 | PA      | $1344238.77   | 0.28%             | 2031-01-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLYH0XDS3 IRS USD R V 12MUSCPI SLYH0XDS3_FLO CCPINFLATIONZERO / Short: BLYH0XDS3 IRS USD P F  2.50250 SLYH0XDS3_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  10000000 | OU      | $144358.20    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC        | BBCMS Mortgage Trust 2024-5C27                                                                                                             | CUSIP: 05555FAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    519000 | PA      | $545406.56    | 0.11%             | 2057-07-15      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                | PURCHASED CAD / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | CA        |         1 | NC      | $-2118.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| New Zealand Government Bonds                       | New Zealand Government Bonds                                                                                                               | CUSIP: 000000000<br>LEI: 549300237GPHG2AI7C34 | Long             | DBT              | NUSS              | NZ        |   9400000 | PA      | $4873313.41   | 1.00%             | 2031-05-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2024-INV1                                                                                                         | CUSIP: 46658PAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1097741 | PA      | $1114485.92   | 0.23%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Highwoods Realty LP                                | Highwoods Realty LP                                                                                                                        | CUSIP: 431282AP7<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              |  | US        |   1375000 | PA      | $1361126.87   | 0.28%             | 2027-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust                              | Arroyo Mortgage Trust 2021-1R                                                                                                              | CUSIP: 042853AB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    284552 | PA      | $256068.58    | 0.05%             | 2048-10-25      | Variable      | 1.48%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                            | GA Global Funding Trust                                                                                                                    | CUSIP: 36143L2N4<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1362753.96   | 0.28%             | 2027-09-23      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810FQ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    909950 | PA      | $1018238.83   | 0.21%             | 2032-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ELECTRIC POWER                           | Wisconsin Electric Power Co                                                                                                                | CUSIP: 976656CU0<br>LEI: AENKIFMULUAWOUU8Q584 | Long             | DBT              | CORP              | US        |   1014000 | PA      | $1009717.06   | 0.21%             | 2030-10-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUNDING                                 | F&G Global Funding                                                                                                                         | CUSIP: 30321L2K7<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |   1143000 | PA      | $1147046.59   | 0.24%             | 2028-09-08      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                 | PURCHASED USD / SOLD CAD                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $25890.20     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                | PURCHASED USD / SOLD GBP                                                                                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $135991.09    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust     | Morgan Stanley Residential Mortgage Loan Trust 2025-1                                                                                      | CUSIP: 617944AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    972062 | PA      | $985807.54    | 0.20%             | 2055-03-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                         | Intel Corp                                                                                                                                 | CUSIP: 458140BH2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $975052.73    | 0.20%             | 2029-11-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Benchmark 2024-V8 Mortgage Trust                   | Benchmark 2024-V8 Mortgage Trust                                                                                                           | CUSIP: 08190AAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1831000 | PA      | $1933256.77   | 0.40%             | 2057-07-15      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                            | PURCHASED CAD / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | CA        |         1 | NC      | $-2252.59     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| APPLE INC                                          | Apple Inc                                                                                                                                  | CUSIP: 037833EZ9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   1312000 | PA      | $1326147.03   | 0.27%             | 2030-05-12      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810TP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4401216 | PA      | $3520888.12   | 0.72%             | 2053-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Canada Government Bonds                            | Canada Government Bonds                                                                                                                    | CUSIP: 135087M27<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |   6050000 | PA      | $4047418.27   | 0.83%             | 2031-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Starwood Residential Mortgage Trust                | STAR 2021-1 Trust                                                                                                                          | CUSIP: 85573GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    670084 | PA      | $637175.31    | 0.13%             | 2065-05-25      | Variable      | 1.22%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2024-9                                                                                                            | CUSIP: 46593DAK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    872010 | PA      | $873447.42    | 0.18%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                                                                           | CUSIP: 3132DTPP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3068343 | PA      | $2916266.92   | 0.60%             | 2052-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                 | Realty Income Corp                                                                                                                         | CUSIP: 756109CW2<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    725000 | PA      | $721406.41    | 0.15%             | 2029-02-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                                                                                                        | CUSIP: 46647PEJ1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1410397.12   | 0.29%             | 2030-07-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG SOCIETY                            | Nationwide Building Society                                                                                                                | CUSIP: 63861VAP2<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   1290000 | PA      | $1285162.13   | 0.26%             | 2030-09-30      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                           | Angel Oak Mortgage Trust 2019-6                                                                                                            | CUSIP: 03464VAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    109914 | PA      | $108530.72    | 0.02%             | 2059-11-25      | Variable      | 2.93%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                                                                                                         | CUSIP: 36179XLJ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2271329 | PA      | $2294300.34   | 0.47%             | 2052-11-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                   | Black Hills Corp                                                                                                                           | CUSIP: 092113AY5<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |   1906000 | PA      | $1905909.37   | 0.39%             | 2031-01-31      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLBA39FI3 IRS USD R V 12MUSCPI SLBA39FI3_FLO CCPINFLATIONZERO / Short: BLBA39FI3 IRS USD P F  2.39000 SLBA39FI3_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  11700000 | OU      | $149858.98    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810RL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13649310 | PA      | $10170417.10  | 2.09%             | 2045-02-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                                                                           | CUSIP: 3132DUXJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3648190 | PA      | $3688639.80   | 0.76%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Canada Government Bonds                            | Canada Government Bonds                                                                                                                    | CUSIP: 135087S47<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |    750000 | PA      | $540272.69    | 0.11%             | 2030-03-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                              | Truist Financial Corp                                                                                                                      | CUSIP: 89788MAK8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2034000 | PA      | $2191457.61   | 0.45%             | 2033-10-28      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                                | Sprint Capital Corp                                                                                                                        | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1220860.81   | 0.25%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                             | Switch ABS Issuer LLC                                                                                                                      | CUSIP: 871044AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    825000 | PA      | $829165.10    | 0.17%             | 2054-06-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | Wells Fargo & Co                                                                                                                           | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1544850.06   | 0.32%             | 2026-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                        | Long: SL1T3R255 IRS USD R V 12MUSCPI SL1T3R255_INF INFLATIONZERO / Short: SL1T3R255 IRS USD P F  2.28000 SL1T3R255_FIX INFLATIONZERO       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | GB        |   2500000 | OU      | $321030.40    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust                               | FirstKey Homes 2020-SFR2 Trust                                                                                                             | CUSIP: 33767JAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1493338.80   | 0.31%             | 2037-10-19      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810PZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5830209 | PA      | $6091562.37   | 1.25%             | 2029-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                        | Citibank NA                                                                                                                                | CUSIP: 17325FBL1<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2262488.37   | 0.47%             | 2027-11-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810SV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6513938 | PA      | $3609272.52   | 0.74%             | 2051-02-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BL5I23ES6 IRS USD R V 12MUSCPI SL5I23ES6_FLO CCPINFLATIONZERO / Short: BL5I23ES6 IRS USD P F  2.66250 SL5I23ES6_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3400000 | OU      | $12118.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CKL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3550858 | PA      | $3665140.70   | 0.75%             | 2029-04-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | J.P. Morgan Mortgage Trust 2024-10                                                                                                         | CUSIP: 46658LAK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    875534 | PA      | $877533.91    | 0.18%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                    | CVS Health Corp                                                                                                                            | CUSIP: 126650DU1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    760000 | PA      | $777590.86    | 0.16%             | 2033-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLTQ16424 IRS USD R V 12MUSCPI SLTQ16424_FLO CCPINFLATIONZERO / Short: BLTQ16424 IRS USD P F  2.43750 SLTQ16424_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  10500000 | OU      | $238686.00    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                 | Chase Home Lending Mortgage Trust Series 2024-7                                                                                            | CUSIP: 16159TAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2009266 | PA      | $2032553.13   | 0.42%             | 2055-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                 | Chase Home Lending Mortgage Trust Series 2024-2                                                                                            | CUSIP: 161929BH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    502020 | PA      | $508118.39    | 0.10%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810FD5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4385917 | PA      | $4665315.85   | 0.96%             | 2028-04-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                  | Long: SL470T3E9 IRS USD R V 00MUSCPI CPURNSA / Short: SL470T3E9 IRS USD P F  2.89500                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |  15100000 | OU      | $-1763834.32  | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BL5I23EV9 IRS USD R V 12MUSCPI SL5I23EV9_FLO CCPINFLATIONZERO / Short: BL5I23EV9 IRS USD P F  2.65000 SL5I23EV9_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  10800000 | OU      | $-18567.68    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Global Advisors                       | State Street Institutional US Government Money Market Fund                                                                                 | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  15255717 | NS      | $15255717.22  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital Services LLC                | PURCHASED USD / SOLD CAD                                                                                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $30813.67     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLA11X4L8 IRS USD R V 12MUSCPI CCP LCH FLOATING / Short: BLA11X4L8 IRS USD P F  1.62875 CCP LCH FIXED                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   8000000 | OU      | $1696050.16   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp           | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT                                                                                | CUSIP: 38122NB50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $993525.01    | 0.20%             | 2034-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLO5SP4A6 IRS USD R V 12MUSCPI INF CCPINFLATIONZERO / Short: BLO5SP4A6 IRS USD P F  2.56250 FIX CCPINFLATIONZERO                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5800000 | OU      | $34305.67     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ATLAS WAREHOUSE LEND                               | Atlas Warehouse Lending Co LP                                                                                                              | CUSIP: 049463AE2<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1043630.13   | 0.21%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2024-11                                                                                                           | CUSIP: 46659AAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    766357 | PA      | $772707.07    | 0.16%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810RA8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11747456 | PA      | $8915677.79   | 1.83%             | 2043-02-15      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810RR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10688429 | PA      | $8236248.31   | 1.69%             | 2046-02-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                               | M&T Bank Corp                                                                                                                              | CUSIP: 55261FAH7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |     56000 | PA      | $55755.02     | 0.01%             | 2026-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| University of California                           | UNIV OF CALIFORNIA CA REVENUES                                                                                                             | CUSIP: 91412HGF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1546074.03   | 0.32%             | 2027-05-15      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| Rate Mortgage Trust                                | RATE Mortgage Trust 2024-J3                                                                                                                | CUSIP: 75409UAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    441502 | PA      | $442719.02    | 0.09%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | Wells Fargo & Co                                                                                                                           | CUSIP: 95000U3G6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    275000 | PA      | $291269.69    | 0.06%             | 2029-10-23      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 912828Z37<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13848716 | PA      | $13220124.23  | 2.72%             | 2030-01-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                            | Oncor Electric Delivery Co LLC                                                                                                             | CUSIP: 68233JCQ5<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |   2205000 | PA      | $2218775.12   | 0.46%             | 2028-05-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BL89H3318 IRS USD R V 12MUSCPI INF CCPINFLATIONZERO / Short: BL89H3318 IRS USD P F  2.57500 FIX CCPINFLATIONZERO                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2600000 | OU      | $-1194.93     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                       | CSMC Trust 2015-WIN1                                                                                                                       | CUSIP: 12649KAP2<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |    180394 | PA      | $167798.07    | 0.03%             | 2044-12-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810QV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6027151 | PA      | $4776302.83   | 0.98%             | 2042-02-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                             | Long: SL7Z00T17 IRS USD R V 12MUSCPI SL7Z00T17_INF INFLATIONZERO / Short: SL7Z00T17 IRS USD P F  1.87000 SL7Z00T17_FIX INFLATIONZERO       | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DIR              |  | US        |   1500000 | OU      | $268816.44    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                                                                                                        | CUSIP: 46647PEP7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    552000 | PA      | $556716.33    | 0.11%             | 2028-10-22      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                           | Angel Oak Mortgage Trust 2019-5                                                                                                            | CUSIP: 03464KAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    101047 | PA      | $99700.77     | 0.02%             | 2049-10-25      | Variable      | 2.92%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                 | Long: SL8J2QPE9 IRS USD R V 12MUSCPI SL8J2QPE9_INF INFLATIONZERO / Short: SL8J2QPE9 IRS USD P F  2.23500 SL8J2QPE9_FIX INFLATIONZERO       | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |   4000000 | OU      | $515631.84    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 9128282L3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7857272 | PA      | $7803862.69   | 1.60%             | 2027-07-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | J.P. Morgan Mortgage Trust 2024-10                                                                                                         | CUSIP: 46658LAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1210173 | PA      | $1216349.75   | 0.25%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                  | Long: SL7Z00836 IRS USD R V 00MCPI ZERO COUPON / Short: SL7Z00836 IRS USD P F  2.78400 CPI URBAN CONSUMER NSA                              | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |   3600000 | OU      | $-196501.61   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                 | Chase Home Lending Mortgage Trust 2024-10                                                                                                  | CUSIP: 16159YAD2<br>LEI: 529900OE9S6KWRJHHJ57 | Long             | ABS-MBS          | CORP              | US        |   1224933 | PA      | $1240395.94   | 0.25%             | 2055-10-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | Wells Fargo & Co                                                                                                                           | CUSIP: 95000U3T8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    975000 | PA      | $993565.52    | 0.20%             | 2029-04-23      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Mortgage Corp                             | ABN Amro Mortgage Corp                                                                                                                     | CUSIP: 000780BZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5606 | PA      | $5530.30      | 0.00%             | 2033-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                             | Sequoia Mortgage Trust 2017-7                                                                                                              | CUSIP: 81746GAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    688291 | PA      | $622064.84    | 0.13%             | 2047-10-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                         | BFLD Trust 2025-FPM                                                                                                                        | CUSIP: 05556HAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2023000 | PA      | $2035580.63   | 0.42%             | 2030-10-10      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CLE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30111998 | PA      | $30548976.18  | 6.28%             | 2034-07-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                  | Sierra Timeshare 2021-1 Receivables Funding LLC                                                                                            | CUSIP: 82652QAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    580719 | PA      | $575926.62    | 0.12%             | 2037-11-20      | Fixed         | 1.34%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BL3IBN1P4 IRS USD R V 12MUSCPI INF CCPINFLATIONZERO / Short: BL3IBN1P4 IRS USD P F  2.59900 FIX CCPINFLATIONZERO                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   4100000 | OU      | $-15566.96    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                             | US 5YR NOTE (CBT) DEC25                                                                                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        49 | NC      | $-17540.84    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                                                                                                         | CUSIP: 36179YDJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7598360 | PA      | $7575253.45   | 1.56%             | 2053-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                              | Athene Global Funding                                                                                                                      | CUSIP: 04685A3X7<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1044181.29   | 0.21%             | 2027-07-09      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 39 Ltd                                 | Elmwood CLO 39 Ltd                                                                                                                         | CUSIP: 289910AA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2525000 | PA      | $2525101.00   | 0.52%             | 2038-04-17      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                          | Amgen Inc                                                                                                                                  | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1145000 | PA      | $1186037.74   | 0.24%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Mitsui Marine Derivative Products LP | Long: SL604D030 IRS USD R V 12MUSCPI SL604D030_INF INFLATIONZERO / Short: SL604D030 IRS USD P F  2.24500 SL604D030_FIX INFLATIONZERO       | CUSIP: 000000000<br>LEI: X1H61UOUXUPKXR51OV18 | N/A              | DIR              |  | US        |   2500000 | OU      | $331581.30    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                              | Palmer Square CLO 2024-4 Ltd                                                                                                               | CUSIP: 69703WAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    775000 | PA      | $776018.35    | 0.16%             | 2038-01-15      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| U.K. Gilts                                         | U.K. Gilts                                                                                                                                 | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |  10650000 | PA      | $14457623.15  | 2.97%             | 2030-03-07      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                                                                           | CUSIP: 3133C6BC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2855335 | PA      | $2838240.96   | 0.58%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                               | Royal Bank of Canada                                                                                                                       | CUSIP: 78017DAM0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    501000 | PA      | $507558.66    | 0.10%             | 2031-08-06      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810RW0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6791365 | PA      | $5011319.44   | 1.03%             | 2047-02-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                          | Towd Point Mortgage Trust 2024-CES3                                                                                                        | CUSIP: 89183EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    611390 | PA      | $619079.94    | 0.13%             | 2064-05-25      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                | Charles Schwab Corp/The                                                                                                                    | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1567000 | PA      | $1549372.82   | 0.32%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                                     | PMT Loan Trust 2025-J2                                                                                                                     | CUSIP: 69392TAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2740571 | PA      | $2758724.14   | 0.57%             | 2056-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Goodgreen Trust                                    | Goodgreen 2020-1 Trust                                                                                                                     | CUSIP: 38217TAA3<br>LEI: 549300X0P2BXCQULUH20 | Long             | ABS-O            | CORP              | US        |    751544 | PA      | $625635.83    | 0.13%             | 2055-04-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                                  | Hyatt Hotels Corp                                                                                                                          | CUSIP: 448579AV4<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    247000 | PA      | $257601.22    | 0.05%             | 2032-03-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTERNATIONAL                             | American International Group Inc                                                                                                           | CUSIP: 026874DS3<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |   1775000 | PA      | $1825986.91   | 0.38%             | 2033-03-27      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                             | Sequoia Mortgage Trust 2024-9                                                                                                              | CUSIP: 81749PAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    977856 | PA      | $982011.36    | 0.20%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CGW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3769325 | PA      | $3783716.51   | 0.78%             | 2028-04-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                   | Vista Point Securitization Trust 2020-2                                                                                                    | CUSIP: 92838TAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250562 | PA      | $242469.61    | 0.05%             | 2065-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLNMIMIQ8 IRS USD R V 12MUSCPI INF CCPINFLATIONZERO / Short: BLNMIMIQ8 IRS USD P F  2.42000 FIX CCPINFLATIONZERO                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5000000 | OU      | $44960.70     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cendant Mortgage Corporation                       | Cendant Mort Capital LLC CDMC Mort Pas Thr Ce Se 03 6                                                                                      | CUSIP: 15132EDZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     63346 | PA      | $61835.90     | 0.01%             | 2033-07-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLO5K2OI6 IRS USD R V 12MUSCPI INF CCPINFLATIONZERO / Short: BLO5K2OI6 IRS USD P F  2.52250 FIX CCPINFLATIONZERO                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1400000 | OU      | $12408.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ORACLE CORP                                        | Oracle Corp                                                                                                                                | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1241000 | PA      | $1240391.12   | 0.25%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                             | US 10YR NOTE (CBT)DEC25                                                                                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        46 | NC      | $-44745.95    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810PV4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8258631 | PA      | $8393510.84   | 1.73%             | 2028-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810RF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13236778 | PA      | $11312657.55  | 2.33%             | 2044-02-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                       | Hilton Grand Vacations Trust 2019-A                                                                                                        | CUSIP: 43284HAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    357221 | PA      | $354281.08    | 0.07%             | 2033-07-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CHP9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25729210 | PA      | $25331388.78  | 5.21%             | 2033-07-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                                                                                                        | CUSIP: 46647PDX1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1524000 | PA      | $1608238.83   | 0.33%             | 2029-10-23      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                | PURCHASED CAD / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | CA        |         1 | NC      | $-974.73      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Woodward Capital Management                        | RCKT Mortgage Trust 2024-CES3                                                                                                              | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    441798 | PA      | $448960.56    | 0.09%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| Aligned Data Centers Issuer LLC                    | Aligned Data Centers Issuer LLC                                                                                                            | CUSIP: 01627AAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1461772.50   | 0.30%             | 2046-08-15      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 9128283R9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13357818 | PA      | $13202545.12  | 2.71%             | 2028-01-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                 | PURCHASED CAD / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | CA        |         1 | NC      | $-441.15      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                             | Sequoia Mortgage Trust 2024-10                                                                                                             | CUSIP: 81749QAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    793751 | PA      | $795424.09    | 0.16%             | 2054-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 9128285W6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4541586 | PA      | $4506779.33   | 0.93%             | 2029-01-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                               | Cross 2025-H5 Mortgage Trust                                                                                                               | CUSIP: 227920AD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1859916 | PA      | $1877077.21   | 0.39%             | 2070-07-25      | Variable      | 5.76%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                       | CSMC 2021-NQM2                                                                                                                             | CUSIP: 12662EAC7<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |    367578 | PA      | $331852.16    | 0.07%             | 2066-02-25      | Variable      | 1.54%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                        | Long: SL7Z00T41 IRS USD R V 12MUSCPI SL7Z00T41_INF INFLATIONZERO / Short: SL7Z00T41 IRS USD P F  1.92000 SL7Z00T41_FIX INFLATIONZERO       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | GB        |  13000000 | OU      | $2245660.69   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810SB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3536892 | PA      | $2648417.34   | 0.54%             | 2048-02-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Agate Bay Mortgage Loan Trust                      | Agate Bay Mortgage Trust 2015-7                                                                                                            | CUSIP: 00842CAC9<br>LEI: 549300LK2ZDVY7I44B84 | Long             | ABS-MBS          | CORP              | US        |    408512 | PA      | $374918.19    | 0.08%             | 2045-10-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | Citigroup Inc                                                                                                                              | CUSIP: 172967PG0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    670000 | PA      | $694891.40    | 0.14%             | 2035-02-13      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                | American Express Co                                                                                                                        | CUSIP: 025816EJ4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1240000 | PA      | $1247315.89   | 0.26%             | 2029-07-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust Series 2025-7MPR                                                                                                  | CUSIP: 46594CAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1319347 | PA      | $1320308.79   | 0.27%             | 2056-02-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                              | Athene Global Funding                                                                                                                      | CUSIP: 04685A4A6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1338627.59   | 0.28%             | 2026-08-27      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                              | Evergy Kansas Central Inc                                                                                                                  | CUSIP: 30036FAE1<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1265267.30   | 0.26%             | 2028-03-13      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLP4159L2 IRS USD R V 12MUSCPI SLP4159L2_FLO CCPINFLATIONZERO / Short: BLP4159L2 IRS USD P F  2.61900 SLP4159L2_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3200000 | OU      | $22767.68     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                            | Dell International LLC / EMC Corp                                                                                                          | CUSIP: 24703DBR1<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    790000 | PA      | $788109.50    | 0.16%             | 2029-02-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BL474BO35 IRS USD R V 12MUSCPI SL474BO35_INF CCPINFLATIONZERO / Short: BL474BO35 IRS USD P F  1.80000 SL474BO35_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   6100000 | OU      | $1097845.97   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLXA18CZ8 IRS USD R V 12MUSCPI SLXA18CZ8_FLO CCPINFLATIONZERO / Short: BLXA18CZ8 IRS USD P F  2.47000 SLXA18CZ8_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5000000 | OU      | $87634.45     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                                                                                                         | CUSIP: 36179YU36<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5216877 | PA      | $4906938.84   | 1.01%             | 2054-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GCAT                                               | GCAT 2024-INV3 Trust                                                                                                                       | CUSIP: 36830FAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    853345 | PA      | $857867.45    | 0.18%             | 2054-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2021-1                                                                                                          | CUSIP: 92537QAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    657722 | PA      | $602344.18    | 0.12%             | 2066-01-25      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CEZ0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9839430 | PA      | $9311859.25   | 1.91%             | 2032-07-15      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                             | Sequoia Mortgage Trust 2024-6                                                                                                              | CUSIP: 81743DAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    429257 | PA      | $432158.69    | 0.09%             | 2054-07-27      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                                            | HCA Inc                                                                                                                                    | CUSIP: 404119CZ0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1235000 | PA      | $1275040.60   | 0.26%             | 2030-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONSUMERS ENERGY CO                                | Consumers Energy Co                                                                                                                        | CUSIP: 210518DY9<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1707267.86   | 0.35%             | 2031-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Bonds                                                                                                      | CUSIP: 912810SG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    513492 | PA      | $378601.19    | 0.08%             | 2049-02-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Bank5                                              | BANK5 Trust 2024-5YR6                                                                                                                      | CUSIP: 066043AB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1061000 | PA      | $1119693.25   | 0.23%             | 2057-05-15      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                     | Lowe's Cos Inc                                                                                                                             | CUSIP: 548661EV5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1679062.81   | 0.35%             | 2031-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                           | Eagle Funding Luxco Sarl                                                                                                                   | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    742000 | PA      | $752803.52    | 0.15%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLWS0QPF1 IRS USD R V 12MUSCPI INF CCPINFLATIONZERO / Short: BLWS0QPF1 IRS USD P F  2.49750 FIX CCPINFLATIONZERO                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  10000000 | OU      | $863932.10    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Improvement Loan Trust   | GoodLeap Sustainable Home Solutions Trust 2021-4                                                                                           | CUSIP: 38237GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    763930 | PA      | $631863.77    | 0.13%             | 2048-07-20      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                 | Chase Home Lending Mortgage Trust 2024-9                                                                                                   | CUSIP: 16160QAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1306741 | PA      | $1312750.63   | 0.27%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                 | Chase Home Lending Mortgage Trust 2024-9                                                                                                   | CUSIP: 16160QAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    513525 | PA      | $514330.08    | 0.11%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                           | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                                         | CUSIP: 505742AM8<br>LEI: N/A                  | Long             | DBT              |  | US        |   1475000 | PA      | $1461973.29   | 0.30%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CDX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9579013 | PA      | $8819414.81   | 1.81%             | 2032-01-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLO5K2Q60 IRS USD R V 12MUSCPI INF CCPINFLATIONZERO / Short: BLO5K2Q60 IRS USD P F  2.52250 FIX CCPINFLATIONZERO                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1400000 | OU      | $12408.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                | Charles Schwab Corp/The                                                                                                                    | CUSIP: 808513CB9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1035127.60   | 0.21%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CLV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    513310 | PA      | $523463.07    | 0.11%             | 2029-10-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                                                                                                        | CUSIP: 46647PDU7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    740000 | PA      | $762444.50    | 0.16%             | 2029-07-24      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust      | J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-AON                                                                            | CUSIP: 46649XAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3055000 | PA      | $2784925.47   | 0.57%             | 2031-07-05      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust                              | Arroyo Mortgage Trust 2021-1R                                                                                                              | CUSIP: 042853AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    232135 | PA      | $208693.06    | 0.04%             | 2048-10-25      | Variable      | 1.64%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                | PURCHASED USD / SOLD NZD                                                                                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DFE              |  | US        |         1 | NC      | $154405.88    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2014-5                                                                                                            | CUSIP: 46643KAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    177388 | PA      | $174170.10    | 0.04%             | 2029-10-25      | Variable      | 2.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                                                                                                         | CUSIP: 36179XHX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5072291 | PA      | $4812879.25   | 0.99%             | 2052-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLYP0FI75 IRS USD R V 12MUSCPI SLYP0FI75_INF CCPINFLATIONZERO / Short: BLYP0FI75 IRS USD P F  1.29100 SLYP0FI75_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3000000 | OU      | $696743.28    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                             | Sequoia Mortgage Trust 2025-8                                                                                                              | CUSIP: 81749WAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1442130 | PA      | $1453334.54   | 0.30%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 91282CNS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    503010 | PA      | $507082.47    | 0.10%             | 2035-07-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Inflation-Indexed Notes                                                                                                      | CUSIP: 912828ZZ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6425592 | PA      | $6108956.11   | 1.26%             | 2030-07-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| NORTH HAVEN PRIVATE INC                            | North Haven Private Income Fund LLC                                                                                                        | CUSIP: 65960NAC4<br>LEI: 2549002BFPESF1EH2765 | Long             | DBT              | CORP              | US        |    880000 | PA      | $875453.62    | 0.18%             | 2028-09-25      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                 | Long: SL7Z00UG2 IRS USD R V 12MUSCPI SL7Z00UG2_INF INFLATIONZERO / Short: SL7Z00UG2 IRS USD P F  2.24000 SL7Z00UG2_FIX INFLATIONZERO       | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | AU        |   7000000 | OU      | $896474.25    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                                                                                                           | CUSIP: 3132DSBD3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4359774 | PA      | $4481113.06   | 0.92%             | 2053-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLFD07JJ4 IRS USD R V 12MUSCPI SLFD07JJ4_INF CCPINFLATIONZERO / Short: BLFD07JJ4 IRS USD P F  1.87375 SLFD07JJ4_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5000000 | OU      | $866233.25    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BL1S54L30 IRS USD R V 12MUSCPI SL1S54L30_INF CCPINFLATIONZERO / Short: BL1S54L30 IRS USD P F  1.88400 SL1S54L30_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1000000 | OU      | $172102.28    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust                   | Provident Funding Mortgage Trust 2024-1                                                                                                    | CUSIP: 74389BAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1910269 | PA      | $1921766.67   | 0.40%             | 2054-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2016-1                                                                                                            | CUSIP: 46646BAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1028184 | PA      | $936678.88    | 0.19%             | 2046-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GLOBAL FUNDING                           | Fortitude Global Funding                                                                                                                   | CUSIP: 34967GAA2<br>LEI: 635400TKBOGEHNO5RT68 | Long             | DBT              | CORP              | US        |    825000 | PA      | $825521.04    | 0.17%             | 2028-10-06      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BL4H5FHC1 IRS USD R V 12MUSCPI SL4H5FHC1_FLO CCPINFLATIONZERO / Short: BL4H5FHC1 IRS USD P F  2.37000 SL4H5FHC1_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  18300000 | OU      | $339604.63    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLXA18D20 IRS USD R V 12MUSCPI SLXA18D20_FLO CCPINFLATIONZERO / Short: BLXA18D20 IRS USD P F  2.49500 SLXA18D20_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3500000 | OU      | $46373.46     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                           | Capital One Financial Corp                                                                                                                 | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1555000 | PA      | $1758693.43   | 0.36%             | 2031-10-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                           | Long: BLP71H6D0 IRS USD R V 12MUSCPI SLP71H6D0_INF CCPINFLATIONZERO / Short: BLP71H6D0 IRS USD P F  2.14500 SLP71H6D0_FIX CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5000000 | OU      | $724854.55    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                    | BRAVO Residential Funding Trust 2024-NQM4                                                                                                  | CUSIP: 10568NAB8<br>LEI: 254900NOKQW417VKV943 | Long             | ABS-MBS          | CORP              | US        |   1429004 | PA      | $1401937.00   | 0.29%             | 2060-01-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

**Signature:** James Hoffmayer

**Name of Signer:** James Hoffmayer

**Title:** VP