# EDGAR Filing Document

**Accession Number:** 0000778207
**File Stem:** 0001410368-25-027175
**Filing Date:** 2025-11
**Character Count:** 174810
**Document Hash:** af139ecfc3c28ed4d355e853fa548981
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-027175.hdr.sgml**: 20251120

**ACCESSION NUMBER**: 0001410368-25-027175

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251120

**DATE AS OF CHANGE**: 20251120

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRANSAMERICA SERIES TRUST
- **CENTRAL INDEX KEY:** 0000778207

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04419
- **FILM NUMBER:** 251501196

**BUSINESS ADDRESS:**
- **STREET 1:** 1801 CALIFORNIA STREET
- **STREET 2:** SUITE 5200
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202
- **BUSINESS PHONE:** 720-482-8836

**MAIL ADDRESS:**
- **STREET 1:** 1801 CALIFORNIA STREET
- **STREET 2:** SUITE 5200
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AEGON/TRANSAMERICA SERIES TRUST
- **DATE OF NAME CHANGE:** 20050511

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AEGON/TRANSAMERICA SERIES FUND INC
- **DATE OF NAME CHANGE:** 20010501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WRL SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Transamerica Madison Diversified Income VP (Series ID: S000031955)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000099470 | Service      |  |

## Nport-Ex

**Transamerica Madison Diversified Income VP**

------

**SCHEDULE OF INVESTMENTS**

**At September 30, 2025**

**(unaudited)**

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCKS - 41.9%**  | **COMMON STOCKS - 41.9%**  | **COMMON STOCKS - 41.9%**  |
| **Banks - 2.4%**  | **Banks - 2.4%**  | **Banks - 2.4%**  |
| Bank of America Corp. | 25750 | $1328443 |
| JPMorgan Chase & Co. | 4250 | 1340577 |
|  |  | 2669020 |
| **Beverages - 0.8%**  | **Beverages - 0.8%**  | **Beverages - 0.8%**  |
| PepsiCo, Inc. | 6600 | 926904 |
| **Biotechnology - 1.3%**  | **Biotechnology - 1.3%**  | **Biotechnology - 1.3%**  |
| AbbVie, Inc. | 6275 | 1452914 |
| **Capital Markets - 4.9%**  | **Capital Markets - 4.9%**  | **Capital Markets - 4.9%**  |
| Blackrock, Inc. | 1600 | 1865392 |
| CME Group, Inc. | 5925 | 1600876 |
| Morgan Stanley | 11700 | 1859832 |
|  |  | 5326100 |
| **Chemicals - 0.8%**  | **Chemicals - 0.8%**  | **Chemicals - 0.8%**  |
| Air Products & Chemicals, Inc. | 3100 | 845432 |
| **Electric Utilities - 1.6%**  | **Electric Utilities - 1.6%**  | **Electric Utilities - 1.6%**  |
| NextEra Energy, Inc. | 23250 | 1755142 |
| **Electrical Equipment - 0.8%**  | **Electrical Equipment - 0.8%**  | **Electrical Equipment - 0.8%**  |
| Rockwell Automation, Inc. | 2450 | 856349 |
| **Electronic Equipment, Instruments & Components - 1.2%**  | **Electronic Equipment, Instruments & Components - 1.2%**  | **Electronic Equipment, Instruments & Components - 1.2%**  |
| TE Connectivity PLC | 6200 | 1361086 |
| **Food Products - 0.7%**  | **Food Products - 0.7%**  | **Food Products - 0.7%**  |
| Hershey Co. | 4225 | 790286 |
| **Ground Transportation - 1.4%**  | **Ground Transportation - 1.4%**  | **Ground Transportation - 1.4%**  |
| Union Pacific Corp. | 6400 | 1512768 |
| **Health Care Equipment & Supplies - 2.4%**  | **Health Care Equipment & Supplies - 2.4%**  | **Health Care Equipment & Supplies - 2.4%**  |
| Abbott Laboratories | 8650 | 1158581 |
| Medtronic PLC | 15750 | 1500030 |
|  |  | 2658611 |
| **Health Care Providers & Services - 0.6%**  | **Health Care Providers & Services - 0.6%**  | **Health Care Providers & Services - 0.6%**  |
| Elevance Health, Inc. | 2050 | 662396 |
| **Hotels, Restaurants & Leisure - 1.1%**  | **Hotels, Restaurants & Leisure - 1.1%**  | **Hotels, Restaurants & Leisure - 1.1%**  |
| McDonald's Corp. | 2100 | 638169 |
| Starbucks Corp. | 6400 | 541440 |
|  |  | 1179609 |
| **Household Products - 1.5%**  | **Household Products - 1.5%**  | **Household Products - 1.5%**  |
| Colgate-Palmolive Co. | 9150 | 731451 |
| Procter & Gamble Co. | 5775 | 887329 |
|  |  | 1618780 |
| **Industrial Conglomerates - 1.4%**  | **Industrial Conglomerates - 1.4%**  | **Industrial Conglomerates - 1.4%**  |
| Honeywell International, Inc. | 7050 | 1484025 |
| **Insurance - 0.8%**  | **Insurance - 0.8%**  | **Insurance - 0.8%**  |
| Marsh & McLennan Cos., Inc. | 4325 | 871617 |
| **IT Services - 0.5%**  | **IT Services - 0.5%**  | **IT Services - 0.5%**  |
| Accenture PLC, Class A | 2425 | 598005 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Machinery - 2.5%**  | **Machinery - 2.5%**  | **Machinery - 2.5%**  |
| Caterpillar, Inc. | 1300 | $620295 |
| Cummins, Inc. | 1900 | 802503 |
| Illinois Tool Works, Inc. | 5200 | 1355952 |
|  |  | 2778750 |
| **Media - 0.8%**  | **Media - 0.8%**  | **Media - 0.8%**  |
| Comcast Corp., Class A | 28100 | 882902 |
| **Oil, Gas & Consumable Fuels - 3.7%**  | **Oil, Gas & Consumable Fuels - 3.7%**  | **Oil, Gas & Consumable Fuels - 3.7%**  |
| Chevron Corp. | 7700 | 1195733 |
| ConocoPhillips | 7400 | 699966 |
| EOG Resources, Inc. | 11300 | 1266956 |
| Exxon Mobil Corp. | 8100 | 913275 |
|  |  | 4075930 |
| **Pharmaceuticals - 1.9%**  | **Pharmaceuticals - 1.9%**  | **Pharmaceuticals - 1.9%**  |
| Johnson & Johnson | 11000 | 2039620 |
| **Professional Services - 1.4%**  | **Professional Services - 1.4%**  | **Professional Services - 1.4%**  |
| Automatic Data Processing, Inc. | 5050 | 1482175 |
| **Semiconductors & Semiconductor Equipment - 1.9%**  | **Semiconductors & Semiconductor Equipment - 1.9%**  | **Semiconductors & Semiconductor Equipment - 1.9%**  |
| Analog Devices, Inc. | 2700 | 663390 |
| Texas Instruments, Inc. | 7700 | 1414721 |
|  |  | 2078111 |
| **Specialized REITs - 1.0%**  | **Specialized REITs - 1.0%**  | **Specialized REITs - 1.0%**  |
| American Tower Corp. | 5850 | 1125072 |
| **Specialty Retail - 2.7%**  | **Specialty Retail - 2.7%**  | **Specialty Retail - 2.7%**  |
| Home Depot, Inc. | 4225 | 1711928 |
| Lowe's Cos., Inc. | 5200 | 1306812 |
|  |  | 3018740 |
| **Textiles, Apparel & Luxury Goods - 0.7%**  | **Textiles, Apparel & Luxury Goods - 0.7%**  | **Textiles, Apparel & Luxury Goods - 0.7%**  |
| NIKE, Inc., Class B | 10440 | 727981 |
| **Trading Companies & Distributors - 1.1%**  | **Trading Companies & Distributors - 1.1%**  | **Trading Companies & Distributors - 1.1%**  |
| Fastenal Co. | 24800 | 1216192 |
| &nbsp;&nbsp; **Total Common Stocks** <br>**(Cost $38,323,311)**<br>|  | 45994517 |

---

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

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS - 24.4%**  | **U.S. GOVERNMENT AGENCY OBLIGATIONS - 24.4%**  | **U.S. GOVERNMENT AGENCY OBLIGATIONS - 24.4%**  |
| Federal Home Loan Mortgage Corp. |  |  |
| 2.00%, 03/01/2041 - 12/01/2051 | $1432376 | 1211236 |
| 2.50%, 02/01/2032 - 01/01/2052 | 2210517 | 1931705 |
| 3.00%, 09/01/2042 - 08/01/2052 | 1594913 | 1437857 |
| 3.50%, 11/01/2040 - 05/01/2052 | 1707387 | 1582837 |
| 4.00%, 04/01/2033 - 03/01/2047 | 126769 | 124650 |
| 4.50%, 08/01/2039 - 12/01/2052 | 414119 | 410348 |
| 5.00%, 05/01/2040 - 02/01/2053 | 2251616 | 2250703 |
| 5.50%, 01/01/2037 - 02/01/2054 | 1331544 | 1356258 |
| 6.00%, 09/01/2053 | 556798 | 572784 |
| Federal Home Loan Mortgage Corp. <br> REMICS |  |  |
| 5.00%, 07/15/2036 | 59556 | 60776 |

---

**Transamerica Series Trust**

**Page 1**

------

**Transamerica Madison Diversified Income VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** |
| Federal National Mortgage Association |  |  |
| 2.50%, 06/01/2031 - 04/01/2052 | $3374423 | $2992164 |
| 3.00%, 12/01/2028 - 01/01/2049 | 1736549 | 1608576 |
| 3.50%, 12/01/2031 - 08/01/2052 | 2015357 | 1870246 |
| 4.00%, 02/01/2035 - 09/01/2052 | 2871508 | 2731474 |
| 4.50%, 05/01/2038 - 07/01/2053 | 1797414 | 1768343 |
| 5.00%, 10/01/2052 - 12/01/2052 | 1151265 | 1148235 |
| 5.50%, 10/01/2052 - 05/01/2054 | 1511686 | 1530332 |
| Federal National Mortgage Association <br> REMICS |  |  |
| 1.38%, 09/25/2027 | 90551 | 88441 |
| 3.50%, 04/25/2031 | 72776 | 71512 |
| 5.50%, 05/25/2051 - 10/25/2051 | 1297011 | 1313449 |
| Federal National Mortgage <br> Association-ACES |  |  |
| 3.21% <sup>(A)</sup>, 11/25/2027 | 407492 | 401586 |
| Government National Mortgage <br> Association |  |  |
| 3.50%, 12/15/2042 | 27404 | 25618 |
| 4.00%, 12/15/2039 | 3328 | 3215 |
| 4.50%, 08/15/2040 | 1393 | 1388 |
| Government National Mortgage <br> Association REMICS |  |  |
| 4.50%, 03/16/2065 | 241800 | 238845 |
| &nbsp;&nbsp; **Total U.S. Government Agency Obligations** <br>**(Cost $27,694,005)** | &nbsp;&nbsp; **Total U.S. Government Agency Obligations** <br>**(Cost $27,694,005)** | 26732578 |
| **CORPORATE DEBT SECURITIES - 17.4%**  | **CORPORATE DEBT SECURITIES - 17.4%**  | **CORPORATE DEBT SECURITIES - 17.4%**  |
| **Aerospace & Defense - 0.2%**  | **Aerospace & Defense - 0.2%**  | **Aerospace & Defense - 0.2%**  |
| BAE Systems PLC |  |  |
| 5.30%, 03/26/2034 <sup>(B)</sup> <br>| 250000 | 259061 |
| **Banks - 4.4%**  | **Banks - 4.4%**  | **Banks - 4.4%**  |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 06/14/2028, <br>2.09% <sup>(A)</sup>, 06/14/2029<br>| 300000 | 284169 |
| &nbsp;&nbsp;&nbsp; Fixed until 03/08/2032, <br>3.85% <sup>(A)</sup>, 03/08/2037<br>| 250000 | 233572 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 05/24/2032, <br>4.91% <sup>(A)</sup>, 05/24/2033<br>| 200000 | 202417 |
| &nbsp;&nbsp;&nbsp; Fixed until 09/19/2034, <br>5.41% <sup>(A)</sup>, 09/19/2039<br>| 150000 | 150508 |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 04/25/2032, <br>4.34% <sup>(A)</sup>, 04/25/2033<br>| 200000 | 194922 |
| &nbsp;&nbsp;&nbsp; Fixed until 07/27/2028, <br>6.34% <sup>(A)</sup>, 07/27/2029<br>| 100000 | 105367 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 04/23/2030, <br>5.22% <sup>(A)</sup>, 04/23/2031<br>| 250000 | 258526 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 08/15/2031, <br>2.49% <sup>(A)</sup>, 08/15/2036<br>| 300000 | 256790 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 01/23/2034, <br>5.34% <sup>(A)</sup>, 01/23/2035<br>| 250000 | 259844 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 02/22/2030, <br>5.48% <sup>(A)</sup>, 02/22/2031<br>| $250000 | $260464 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 01/18/2034, <br>5.47% <sup>(A)</sup>, 01/18/2035<br>| 250000 | 260386 |
| PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 10/20/2033, <br>6.88% <sup>(A)</sup>, 10/20/2034<br>| 250000 | 283238 |
| Royal Bank of Canada |  |  |
| 5.15%, 02/01/2034 | 175000 | 182316 |
| State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 11/01/2029, <br>3.03% <sup>(A)</sup>, 11/01/2034<br>| 125000 | 117298 |
| Toronto-Dominion Bank |  |  |
| 4.46%, 06/08/2032 | 250000 | 249810 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 01/26/2033, <br>5.12% <sup>(A)</sup>, 01/26/2034<br>| 200000 | 203200 |
| &nbsp;&nbsp;&nbsp; Fixed until 06/08/2033, <br>5.87% <sup>(A)</sup>, 06/08/2034<br>| 300000 | 317858 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 02/01/2033, <br>4.84% <sup>(A)</sup>, 02/01/2034<br>| 225000 | 225985 |
| &nbsp;&nbsp;&nbsp; Fixed until 01/23/2029, <br>5.38% <sup>(A)</sup>, 01/23/2030<br>| 125000 | 129240 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 08/05/2026, <br>4.70% <sup>(A)</sup>, 08/05/2027 <sup>(B)</sup> <br>| 200000 | 200665 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 01/22/2029, <br>5.20% <sup>(A)</sup>, 01/23/2030<br>| 125000 | 128737 |
| &nbsp;&nbsp;&nbsp; Fixed until 07/25/2028, <br>5.57% <sup>(A)</sup>, 07/25/2029<br>| 250000 | 259088 |
|  |  | 4764400 |
| **Beverages - 0.3%**  | **Beverages - 0.3%**  | **Beverages - 0.3%**  |
| Diageo Investment Corp. |  |  |
| 5.13%, 08/15/2030 | 200000 | 207215 |
| Keurig Dr. Pepper, Inc. |  |  |
| 3.80%, 05/01/2050 | 200000 | 145005 |
|  |  | 352220 |
| **Biotechnology - 0.2%**  | **Biotechnology - 0.2%**  | **Biotechnology - 0.2%**  |
| Amgen, Inc. |  |  |
| 5.65%, 03/02/2053 | 75000 | 74808 |
| Royalty Pharma PLC |  |  |
| 2.20%, 09/02/2030 | 200000 | 179559 |
|  |  | 254367 |
| **Building Products - 0.4%**  | **Building Products - 0.4%**  | **Building Products - 0.4%**  |
| Carrier Global Corp. |  |  |
| 3.58%, 04/05/2050 | 34000 | 25356 |
| 6.20%, 03/15/2054 | 98000 | 106264 |
| Vulcan Materials Co. |  |  |
| 3.50%, 06/01/2030 | 275000 | 265649 |
|  |  | 397269 |

---

**Transamerica Series Trust**

**Page 2**

------

**Transamerica Madison Diversified Income VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Capital Markets - 0.2%**  | **Capital Markets - 0.2%**  | **Capital Markets - 0.2%**  |
| Goldman Sachs BDC, Inc. |  |  |
| 2.88%, 01/15/2026 | $200000 | $198858 |
| **Chemicals - 0.3%**  | **Chemicals - 0.3%**  | **Chemicals - 0.3%**  |
| LYB International Finance III LLC |  |  |
| 3.63%, 04/01/2051 | 100000 | 66919 |
| Nutrien Ltd. |  |  |
| 5.80%, 03/27/2053 | 250000 | 254203 |
|  |  | 321122 |
| **Commercial Services & Supplies - 0.6%**  | **Commercial Services & Supplies - 0.6%**  | **Commercial Services & Supplies - 0.6%**  |
| PayPal Holdings, Inc. |  |  |
| 5.10%, 04/01/2035 | 100000 | 102275 |
| Quanta Services, Inc. |  |  |
| 2.90%, 10/01/2030 | 300000 | 280064 |
| Textron, Inc. |  |  |
| 2.45%, 03/15/2031 | 250000 | 225106 |
|  |  | 607445 |
| **Communications Equipment - 0.2%**  | **Communications Equipment - 0.2%**  | **Communications Equipment - 0.2%**  |
| AT&T, Inc. |  |  |
| 2.25%, 02/01/2032 | 200000 | 175092 |
| 4.75%, 05/15/2046 | 75000 | 66973 |
|  |  | 242065 |
| **Consumer Staples Distribution & Retail - 0.4%**  | **Consumer Staples Distribution & Retail - 0.4%**  | **Consumer Staples Distribution & Retail - 0.4%**  |
| Lowe's Cos., Inc. |  |  |
| 3.00%, 10/15/2050 | 150000 | 97048 |
| Tractor Supply Co. |  |  |
| 5.25%, 05/15/2033 | 100000 | 103110 |
| Walmart, Inc. |  |  |
| 4.90%, 04/28/2035 | 250000 | 257165 |
|  |  | 457323 |
| **Containers & Packaging - 0.1%**  | **Containers & Packaging - 0.1%**  | **Containers & Packaging - 0.1%**  |
| WRKCo, Inc. |  |  |
| 3.90%, 06/01/2028 | 125000 | 123964 |
| **Diversified REITs - 0.3%**  | **Diversified REITs - 0.3%**  | **Diversified REITs - 0.3%**  |
| GLP Capital LP/GLP Financing II, Inc. |  |  |
| 3.25%, 01/15/2032 | 200000 | 179934 |
| Weyerhaeuser Co. |  |  |
| 3.38%, 03/09/2033 | 200000 | 182050 |
|  |  | 361984 |
| **Electric Utilities - 0.7%**  | **Electric Utilities - 0.7%**  | **Electric Utilities - 0.7%**  |
| DTE Electric Co. |  |  |
| 5.40%, 04/01/2053 | 250000 | 247819 |
| Duke Energy Corp. |  |  |
| 3.75%, 09/01/2046 | 250000 | 191650 |
| Interstate Power & Light Co. |  |  |
| 3.50%, 09/30/2049 | 225000 | 163364 |
| PECO Energy Co. |  |  |
| 3.05%, 03/15/2051 | 250000 | 164923 |
|  |  | 767756 |
| **Electronic Equipment, Instruments & Components - 0.2%**  | **Electronic Equipment, Instruments & Components - 0.2%**  | **Electronic Equipment, Instruments & Components - 0.2%**  |
| Vontier Corp. |  |  |
| 1.80%, 04/01/2026 | 200000 | 197237 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Financial Services - 1.4%**  | **Financial Services - 1.4%**  | **Financial Services - 1.4%**  |
| AerCap Ireland Capital DAC/AerCap <br> Global Aviation Trust |  |  |
| 4.63%, 10/15/2027 | $250000 | $251873 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 10/30/2030, <br>6.49% <sup>(A)</sup>, 10/30/2031<br>| 250000 | 274000 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 05/10/2027, <br>4.93% <sup>(A)</sup>, 05/10/2028<br>| 200000 | 202060 |
| &nbsp;&nbsp;&nbsp; Fixed until 06/08/2028, <br>6.31% <sup>(A)</sup>, 06/08/2029<br>| 200000 | 209802 |
| Jefferies Financial Group, Inc. |  |  |
| 2.63%, 10/15/2031 | 250000 | 222355 |
| 6.20%, 04/14/2034 | 100000 | 106320 |
| KKR Group Finance Co. VIII LLC |  |  |
| 3.50%, 08/25/2050 <sup>(B)</sup> <br>| 250000 | 179441 |
| Synchrony Financial |  |  |
| 3.70%, 08/04/2026 | 100000 | 99356 |
|  |  | 1545207 |
| **Food Products - 0.4%**  | **Food Products - 0.4%**  | **Food Products - 0.4%**  |
| J.M. Smucker Co. |  |  |
| 6.20%, 11/15/2033 | 250000 | 271532 |
| Mars, Inc. |  |  |
| 5.20%, 03/01/2035 <sup>(B)</sup> <br>| 100000 | 102214 |
| 5.70%, 05/01/2055 <sup>(B)</sup> <br>| 100000 | 101294 |
|  |  | 475040 |
| **Health Care Providers & Services - 0.5%**  | **Health Care Providers & Services - 0.5%**  | **Health Care Providers & Services - 0.5%**  |
| Cigna Group |  |  |
| 4.38%, 10/15/2028 | 50000 | 50263 |
| Health Care Service Corp. A Mutual Legal <br> Reserve Co. |  |  |
| 2.20%, 06/01/2030 <sup>(B)</sup> <br>| 350000 | 316431 |
| Humana, Inc. |  |  |
| 5.38%, 04/15/2031 | 150000 | 154292 |
|  |  | 520986 |
| **Health Care REITs - 0.3%**  | **Health Care REITs - 0.3%**  | **Health Care REITs - 0.3%**  |
| Healthpeak OP LLC |  |  |
| 3.25%, 07/15/2026 | 150000 | 148923 |
| Omega Healthcare Investors, Inc. |  |  |
| 3.38%, 02/01/2031 | 225000 | 208792 |
|  |  | 357715 |
| **Insurance - 1.2%**  | **Insurance - 1.2%**  | **Insurance - 1.2%**  |
| Aflac, Inc. |  |  |
| 4.75%, 01/15/2049 | 250000 | 224288 |
| American International Group, Inc. |  |  |
| 4.75%, 04/01/2048 | 100000 | 90479 |
| Athene Holding Ltd. |  |  |
| 6.25%, 04/01/2054 | 125000 | 127436 |
| Empower Finance 2020 LP |  |  |
| 3.08%, 09/17/2051 <sup>(B)</sup> <br>| 350000 | 227658 |
| Five Corners Funding Trust II |  |  |
| 2.85%, 05/15/2030 <sup>(B)</sup> <br>| 250000 | 234181 |
| Liberty Mutual Group, Inc. |  |  |
| 3.95%, 05/15/2060 <sup>(B)</sup> <br>| 100000 | 71072 |

---

**Transamerica Series Trust**

**Page 3**

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**Transamerica Madison Diversified Income VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Old Republic International Corp. |  |  |
| 3.85%, 06/11/2051 | $250000 | $181308 |
| Teachers Insurance & Annuity Association <br> of America |  |  |
| 3.30%, 05/15/2050 <sup>(B)</sup> <br>| 200000 | 137787 |
|  |  | 1294209 |
| **IT Services - 0.4%**  | **IT Services - 0.4%**  | **IT Services - 0.4%**  |
| Dell International LLC/EMC Corp. |  |  |
| 3.45%, 12/15/2051 | 250000 | 175669 |
| 8.35%, 07/15/2046 | 19000 | 24693 |
| HP, Inc. |  |  |
| 2.65%, 06/17/2031 | 250000 | 225515 |
|  |  | 425877 |
| **Oil, Gas & Consumable Fuels - 3.1%**  | **Oil, Gas & Consumable Fuels - 3.1%**  | **Oil, Gas & Consumable Fuels - 3.1%**  |
| Devon Energy Corp. |  |  |
| 5.20%, 09/15/2034 <sup>(C)</sup> <br>| 400000 | 398269 |
| Diamondback Energy, Inc. |  |  |
| 5.40%, 04/18/2034 | 295000 | 301160 |
| Eastern Gas Transmission & Storage, Inc. |  |  |
| 3.00%, 11/15/2029 | 250000 | 237856 |
| Enbridge, Inc. |  |  |
| 5.70%, 03/08/2033 | 125000 | 131545 |
| Energy Transfer LP |  |  |
| 5.25%, 04/15/2029 | 100000 | 102886 |
| 6.55%, 12/01/2033 | 250000 | 273447 |
| Exxon Mobil Corp. |  |  |
| 4.11%, 03/01/2046 | 225000 | 190777 |
| Kinder Morgan, Inc. |  |  |
| 5.55%, 06/01/2045 | 350000 | 339955 |
| Marathon Petroleum Corp. |  |  |
| 3.80%, 04/01/2028 | 175000 | 173290 |
| MPLX LP |  |  |
| 2.65%, 08/15/2030 | 400000 | 367233 |
| Phillips 66 |  |  |
| 4.65%, 11/15/2034 | 100000 | 97608 |
| Valero Energy Corp. |  |  |
| 4.00%, 06/01/2052 | 100000 | 74364 |
| 5.15%, 02/15/2030 | 150000 | 154409 |
| 6.63%, 06/15/2037 | 250000 | 277217 |
| Valero Energy Partners LP |  |  |
| 4.50%, 03/15/2028 | 250000 | 251948 |
|  |  | 3371964 |
| **Passenger Airlines - 0.2%**  | **Passenger Airlines - 0.2%**  | **Passenger Airlines - 0.2%**  |
| Delta Air Lines, Inc./SkyMiles IP Ltd. |  |  |
| 4.75%, 10/20/2028 <sup>(B)</sup> <br>| 250000 | 251406 |
| **Pharmaceuticals - 0.2%**  | **Pharmaceuticals - 0.2%**  | **Pharmaceuticals - 0.2%**  |
| Pfizer Investment Enterprises Pte. Ltd. |  |  |
| 5.30%, 05/19/2053 | 200000 | 193277 |
| **Real Estate Management & Development - 0.1%**  | **Real Estate Management & Development - 0.1%**  | **Real Estate Management & Development - 0.1%**  |
| CBRE Services, Inc. |  |  |
| 4.80%, 06/15/2030 | 125000 | 126985 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Retail REITs - 0.2%**  | **Retail REITs - 0.2%**  | **Retail REITs - 0.2%**  |
| Realty Income Corp. |  |  |
| 4.85%, 03/15/2030 <sup>(C)</sup> <br>| $200000 | $205097 |
| **Semiconductors & Semiconductor Equipment - 0.0% \*** | **Semiconductors & Semiconductor Equipment - 0.0% \*** | **Semiconductors & Semiconductor Equipment - 0.0% \*** |
| Broadcom, Inc. |  |  |
| 3.19%, 11/15/2036 <sup>(B)</sup> <br>| 9000 | 7680 |
| **Software - 0.7%**  | **Software - 0.7%**  | **Software - 0.7%**  |
| Fiserv, Inc. |  |  |
| 3.50%, 07/01/2029 | 200000 | 194388 |
| Oracle Corp. |  |  |
| 3.95%, 03/25/2051 | 250000 | 185877 |
| Paychex, Inc. |  |  |
| 5.60%, 04/15/2035 | 200000 | 209376 |
| VMware LLC |  |  |
| 2.20%, 08/15/2031 | 250000 | 220506 |
|  |  | 810147 |
| **Technology Hardware, Storage & Peripherals - 0.2%**  | **Technology Hardware, Storage & Peripherals - 0.2%**  | **Technology Hardware, Storage & Peripherals - 0.2%**  |
| CDW LLC/CDW Finance Corp. |  |  |
| 5.10%, 03/01/2030 | 204000 | 207617 |
|  |  | 207617 |
| &nbsp;&nbsp; **Total Corporate Debt Securities** <br>**(Cost $20,074,862)**<br>|  | 19098278 |
| **U.S. GOVERNMENT OBLIGATIONS - 11.8%**  | **U.S. GOVERNMENT OBLIGATIONS - 11.8%**  | **U.S. GOVERNMENT OBLIGATIONS - 11.8%**  |
| **U.S. Treasury - 11.8%**  | **U.S. Treasury - 11.8%**  | **U.S. Treasury - 11.8%**  |
| U.S. Treasury Bonds |  |  |
| 2.00%, 02/15/2050 | 700000 | 418606 |
| 2.75%, 08/15/2042 - 11/15/2042 | 1800000 | 1397836 |
| 3.00%, 05/15/2047 | 750000 | 570996 |
| 3.75%, 08/15/2041 | 250000 | 227197 |
| 4.13%, 08/15/2053 | 1100000 | 994254 |
| 4.25%, 08/15/2054 | 1000000 | 923125 |
| 4.38%, 05/15/2041 | 500000 | 491309 |
| 4.63%, 05/15/2044 | 715000 | 709777 |
| U.S. Treasury Notes |  |  |
| 2.63%, 02/15/2029 | 1500000 | 1451367 |
| 3.88%, 11/30/2029 | 1000000 | 1006445 |
| 4.00%, 02/29/2028 - 02/15/2034 | 2150000 | 2163873 |
| 4.13%, 11/15/2032 | 250000 | 252910 |
| 4.38%, 05/15/2034 | 1000000 | 1023125 |
| 4.63%, 06/15/2027 - 09/30/2028 | 1300000 | 1330449 |
| &nbsp;&nbsp; **Total U.S. Government Obligations** <br>**(Cost $13,887,931)**<br>|  | 12961269 |
| **MORTGAGE-BACKED SECURITIES - 2.8%**  | **MORTGAGE-BACKED SECURITIES - 2.8%**  | **MORTGAGE-BACKED SECURITIES - 2.8%**  |
| Bunker Hill Loan Depositary Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020-1, Class A1, <br>1.72% <sup>(A)</sup>, 02/25/2055 <sup>(B)</sup> <br>| 13820 | 13714 |
| CIM Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-J2, Class A4, <br>2.50% <sup>(A)</sup>, 04/25/2051 <sup>(B)</sup> <br>| 244778 | 220417 |
| FREMF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020-K106, Class B, <br>3.68% <sup>(A)</sup>, 03/25/2053 <sup>(B)</sup> <br>| 250000 | 235722 |

---

**Transamerica Series Trust**

**Page 4**

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**Transamerica Madison Diversified Income VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-NQM1, Class A1, <br>0.87% <sup>(A)</sup>, 01/25/2066 <sup>(B)</sup> <br>| $115179 | $103031 |
| GS Mortgage-Backed Securities Corp. <br> Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020-PJ6, Class A2, <br>2.50% <sup>(A)</sup>, 05/25/2051 <sup>(B)</sup> <br>| 143611 | 118372 |
| JPMorgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-1, Class A3, <br>2.50% <sup>(A)</sup>, 06/25/2051 <sup>(B)</sup> <br>| 406223 | 337705 |
| &nbsp;&nbsp;&nbsp; Series 2021-3, Class A3, <br>2.50% <sup>(A)</sup>, 07/25/2051 <sup>(B)</sup> <br>| 191167 | 158913 |
| &nbsp;&nbsp;&nbsp; Series 2021-6, Class A4, <br>2.50% <sup>(A)</sup>, 10/25/2051 <sup>(B)</sup> <br>| 484456 | 435256 |
| &nbsp;&nbsp;&nbsp; Series 2024-5, Class A4, <br>6.00% <sup>(A)</sup>, 11/25/2054 <sup>(B)</sup> <br>| 151438 | 153264 |
| JPMorgan Wealth Management |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020-ATR1, Class A3, <br>3.00% <sup>(A)</sup>, 02/25/2050 <sup>(B)</sup> <br>| 96206 | 84359 |
| PSMC Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-1, Class A11, <br>2.50% <sup>(A)</sup>, 03/25/2051 <sup>(B)</sup> <br>| 288160 | 257469 |
| RCKT Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-6, Class A5, <br>2.50% <sup>(A)</sup>, 12/25/2051 <sup>(B)</sup> <br>| 280755 | 250223 |
| Sequoia Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2013-7, Class A2, <br>3.00% <sup>(A)</sup>, 06/25/2043<br>| 169804 | 153169 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-4, Class A1A, <br>4.54% <sup>(A)</sup>, 10/27/2064 <sup>(B)</sup> <br>| 425757 | 426524 |
| Wells Fargo Mortgage-Backed Securities <br> Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-INV2, Class A2, <br>2.50% <sup>(A)</sup>, 09/25/2051 <sup>(B)</sup> <br>| 176442 | 146231 |
| &nbsp;&nbsp; **Total Mortgage-Backed Securities** <br>**(Cost $3,464,552)**<br>|  | 3094369 |
| **ASSET-BACKED SECURITIES - 0.6%**  | **ASSET-BACKED SECURITIES - 0.6%**  | **ASSET-BACKED SECURITIES - 0.6%**  |
| Carmax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2022-3, Class A4, <br>4.06%, 02/15/2028<br>| 203000 | 202902 |
| Chesapeake Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-1A, Class A1, <br>5.65%, 05/15/2035 <sup>(B)</sup> <br>| 163607 | 164612 |
| Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2022-4, Class A2, <br>5.76%, 10/22/2029 <sup>(B)</sup> <br>| 61492 | 61787 |
| &nbsp;&nbsp;&nbsp; Series 2023-1, Class A2, <br>5.51%, 01/22/2029 <sup>(B)</sup> <br>| 53166 | 53315 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-CES1, Class A1A, <br>5.85% <sup>(A)</sup>, 01/25/2064 <sup>(B)</sup> <br>| $187706 | $189026 |
| &nbsp;&nbsp; **Total Asset-Backed Securities** <br>**(Cost $663,892)** | &nbsp;&nbsp; **Total Asset-Backed Securities** <br>**(Cost $663,892)** | 671642 |
| **MUNICIPAL GOVERNMENT OBLIGATION - 0.0% \*** | **MUNICIPAL GOVERNMENT OBLIGATION - 0.0% \*** | **MUNICIPAL GOVERNMENT OBLIGATION - 0.0% \*** |
| **Massachusetts - 0.0% \*** | **Massachusetts - 0.0% \*** | **Massachusetts - 0.0% \*** |
| University of Massachusetts Building <br> Authority, Revenue Bonds, |  |  |
| 6.57%, 05/01/2039 | 35000 | 35039 |
| &nbsp;&nbsp; **Total Municipal Government Obligation** <br>**(Cost $35,000)**<br>|  | 35039 |

---

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **OTHER INVESTMENT COMPANY - 0.6%**  | **OTHER INVESTMENT COMPANY - 0.6%**  | **OTHER INVESTMENT COMPANY - 0.6%**  |
| **Securities Lending Collateral - 0.6%**  | **Securities Lending Collateral - 0.6%**  | **Securities Lending Collateral - 0.6%**  |
| &nbsp;&nbsp; State Street Navigator Securities Lending <br> Trust - Government Money Market Portfolio, <br> 4.13% <sup>(D)</sup> <br>| 611820 | 611820 |
| &nbsp;&nbsp; **Total Other Investment Company** <br>**(Cost $611,820)** | &nbsp;&nbsp; **Total Other Investment Company** <br>**(Cost $611,820)** | 611820 |

---

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

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **REPURCHASE AGREEMENT - 0.8%**  | **REPURCHASE AGREEMENT - 0.8%**  | **REPURCHASE AGREEMENT - 0.8%**  |
| &nbsp;&nbsp; Fixed Income Clearing Corp., <br>1.65% <sup>(D)</sup>, dated 09/30/2025, to be <br> repurchased at $892,545 on 10/01/2025. <br> Collateralized by a U.S. Government <br> Obligation, 2.50%, due 03/31/2027, and <br> with a value of $910,549.<br>| $892504 | 892504 |
| &nbsp;&nbsp; **Total Repurchase Agreement** <br>**(Cost $892,504)** | &nbsp;&nbsp; **Total Repurchase Agreement** <br>**(Cost $892,504)** | 892504 |
| &nbsp;&nbsp; **Total Investments** <br>**(Cost $105,647,877)** | &nbsp;&nbsp; **Total Investments** <br>**(Cost $105,647,877)** | 110092016 |
| **Net Other Assets (Liabilities) - (0.3)%** | **Net Other Assets (Liabilities) - (0.3)%** | (275520) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | **$109816496** |

---

**Transamerica Series Trust**

**Page 5**

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**Transamerica Madison Diversified Income VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

**INVESTMENT VALUATION:**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs** <sup>(E)</sup> <br>|  |  |  |  |
|  | **Level 1 -** <br>**Unadjusted** <br>**Quoted Prices**<br>| **Level 2 -** <br>**Other Significant** <br>**Observable Inputs**<br>| **Level 3 -** <br>**Significant** <br>**Unobservable Inputs**<br>| **Value** |
| **ASSETS** |  |  |  |  |
| **Investments** |  |  |  |  |
| Common Stocks | $45994517 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $45994517 |
| U.S. Government Agency Obligations |  | &nbsp;&nbsp; 26732578 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26732578 |
| Corporate Debt Securities |  | &nbsp;&nbsp; 19098278 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19098278 |
| U.S. Government Obligations |  | &nbsp;&nbsp; 12961269 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12961269 |
| Mortgage-Backed Securities |  | &nbsp;&nbsp; 3094369 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3094369 |
| Asset-Backed Securities |  | &nbsp;&nbsp; 671642 | &nbsp;&nbsp; — | &nbsp;&nbsp; 671642 |
| Municipal Government Obligation |  | &nbsp;&nbsp; 35039 | &nbsp;&nbsp; — | &nbsp;&nbsp; 35039 |
| Other Investment Company | 611820 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 611820 |
| Repurchase Agreement |  | &nbsp;&nbsp; 892504 | &nbsp;&nbsp; — | &nbsp;&nbsp; 892504 |
| **Total Investments** | **$46606337** | &nbsp;&nbsp; **$63485679** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$110092016** |

---

**FOOTNOTES TO SCHEDULE OF INVESTMENTS:** 

\* *Percentage rounds to less than 0.1% or (0.1)%.*

<sup>(A)</sup> *Floating or variable rate security. The rate disclosed is as of September 30, 2025. For securities based on a published reference rate and spread, the* *reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate,* *where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and* *are based on current market conditions; these securities do not indicate a reference rate and spread in the description.* 

<sup>(B)</sup> *Security is exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Security may be resold as transactions exempt from* *registration, normally to qualified institutional buyers. At September 30, 2025, the total value of 144A securities is $5,498,830, representing 5.0% of the* *Portfolio's net assets.* 

<sup>(C)</sup> *All or a portion of the security is on loan. The total value of the securities on loan is $598,717, collateralized by cash collateral of $611,820. The amount* *on loan indicated may not correspond with the securities on loan identified because a security with pending sales are in the process of recall from the* *brokers.* 

<sup>(D)</sup> *Rate disclosed reflects the yield at September 30, 2025.*

<sup>(E)</sup> *There were no transfers in or out of Level 3 during the period ended September 30, 2025. Please reference the Investment Valuation section of the* *Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.* 

**PORTFOLIO ABBREVIATION(S):** 

*REIT* *Real Estate Investment Trust*

**Transamerica Series Trust**

**Page 6**

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**Transamerica Madison Diversified Income VP**

------

**NOTES TO SCHEDULE OF INVESTMENTS**

**At September 30, 2025**

**(unaudited)**

**INVESTMENT VALUATION**

Transamerica Madison Diversified Income VP (the "Portfolio") is a series of the Transamerica Series Trust.

Transamerica Asset Management, Inc. ("TAM") has been designated as the Portfolio's valuation designee pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, with responsibility for fair valuation subject to oversight by the Portfolio's Board of Trustees. The net asset value of the Portfolio is computed as of the official close of the New York Stock Exchange ("NYSE") each day the NYSE is open for business.

TAM utilizes various methods to measure the fair value of its investments on a recurring basis. Generally Accepted Accounting Principles in the United States of America establishes a hierarchy that prioritizes inputs to valuation methods. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The three levels ("Levels") of inputs of the fair value hierarchy are defined as follows:

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

Level 2—Inputs, other than quoted prices included in Level 1, which are observable, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.

Level 3—Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include TAM's own assumptions used in determining the fair value of the Portfolio's investments.

The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy that is assigned to the fair value measurement of a security is determined based on the lowest Level input that is significant to the fair value measurement in its entirety. Certain investments that are measured at fair value using Net Asset Value ("NAV") per share, or its equivalent, using the "practical expedient" have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Portfolio's investments at September 30, 2025, is disclosed within the Investment Valuation section of the Schedule of Investments.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, but not limited to, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is generally greatest for instruments categorized in Level 3. Due to the inherent uncertainty of valuation, the determination of values may differ significantly from values that would have been realized had a ready market for investments existed, and the differences could be material.

**Fair value measurements:** Descriptions of the valuation techniques applied to the Portfolio's significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:

*Asset-backed securities:* The fair value of asset-backed securities is estimated based on models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield, and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

*Corporate debt securities:* The fair value of corporate debt securities is estimated using various techniques, which consider recently executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, fundamental data relating to the issuer, and credit default swap spreads adjusted for any basis difference between cash and derivative instruments. While most corporate debt securities are categorized in Level 2 of the fair value hierarchy, in instances where lower relative weight is placed on transaction prices, quotations, or similar observable inputs, they are categorized in Level 3.

*Equity securities:* Securities are stated at the last reported sales price or closing price on the day of valuation taken from the primary exchange where the security is principally traded. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Equities traded on inactive markets or valued by reference to similar instruments are generally categorized in Level 2 or Level 3 if inputs are unobservable.

**Transamerica Series Trust**

**Page 7**

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**Transamerica Madison Diversified Income VP**

------

**NOTES TO SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

*Foreign equity securities:* Securities in which the primary trading market closes at the same time or after the NYSE, are valued based on quotations from the primary market in which they are traded and are categorized in Level 1. Because many foreign securities markets and exchanges close prior to the close of the NYSE, closing prices for foreign securities in those markets or on those exchanges do not reflect the events that occur after that close. Certain foreign securities may be fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, or ETFs and the movement of certain indices of securities based on a statistical analysis of their historical relationship; such valuations generally are categorized in Level 2.

*Mortgage-backed securities:* The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.

*Municipal government obligations:* The fair value of municipal government obligations and variable rate notes is estimated based on models that consider, among other factors, information received from market makers and broker-dealers, current trades, bid-want lists, offerings, market movements, the liquidity of the bond, state of issuance, benchmark yield curves, and bond or note insurance. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.

*U.S. government agency obligations:* U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced ("TBA") securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

*U.S. government obligations:* U.S. government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. U.S. government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

*Securities lending collateral:* Securities lending collateral is invested in a money market fund which is valued at the actively traded NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.

*Repurchase agreements:* Repurchase agreements are valued at cost, which approximates fair value. To the extent the inputs are observable and timely, the values are generally categorized in Level 2 of the fair value hierarchy.

**Transamerica Series Trust**

**Page 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:** TRANSAMERICA SERIES TRUST

- **b. Investment Company Act file number:** 811-04419

- **c. CIK number of Registrant:** 0000778207

- **d. LEI of Registrant:** 5493000QR1WGXIM5V222

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

  - **Street Address 1:** 1801 CALIFORNIA STREET

  - **City:** DENVER

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80202

  - **Telephone number:** 720-493-4256

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

- **a. Name of Series:** Transamerica Madison Diversified Income VP

- **b. EDGAR series identifier (if any):** S000031955

- **c. LEI of Series:** 5493003O716XTLA4DE78

**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:** $110981210.51

**Total Liabilities:** $1157217.59

**Net Assets:** $109823992.92

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -56.94000000 | **1-Year:** -1031.20000000 | **5-Year:** -4752.21000000 | **10-Year:** -5192.93000000 | **30-Year:** -3090.74000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000099470 | -0.09%               | 2.23%                | 0.61%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $913516.44               | $-1225326.05                               |
| Month 2  | $-24966.84               | $2251116.48                                |
| Month 3  | $394770.50               | $19174.34                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Honeywell International Inc                    | Honeywell International, Inc.                                               | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      7050 | NS      | $1484025.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| FIVE CORNERS FND TR II                         | Five Corners Funding Trust II                                               | CUSIP: 33834DAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $234180.98    | 0.21%             | 2030-05-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3128MJXQ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    191215 | PA      | $173410.36    | 0.16%             | 2046-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3128M8FH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     43732 | PA      | $41774.38     | 0.04%             | 2040-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MARS INC                                       | Mars, Inc.                                                                  | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102213.65    | 0.09%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31417EJT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45943 | PA      | $42250.83     | 0.04%             | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 31335AYT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    127582 | PA      | $115491.18    | 0.11%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                   | Broadcom, Inc.                                                              | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      9000 | PA      | $7680.40      | 0.01%             | 2036-11-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418EJ84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    246766 | PA      | $249801.12    | 0.23%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138WHCJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    112122 | PA      | $108350.68    | 0.10%             | 2031-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                            | American Express Co.                                                        | CUSIP: 025816DN6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    250000 | PA      | $273999.80    | 0.25%             | 2031-10-30      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                         | CUSIP: 9128286B1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | PA      | $1451367.18   | 1.32%             | 2029-02-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                    | Nutrien Ltd.                                                                | CUSIP: 67077MBB3<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $254202.75    | 0.23%             | 2053-03-27      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Blackrock Inc                                  | Blackrock, Inc.                                                             | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      1600 | NS      | $1865392.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                                  | Accenture PLC                                                               | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      2425 | NS      | $598005.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DVL94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1308897 | PA      | $1122794.05   | 1.02%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31410LRR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30689 | PA      | $30086.14     | 0.03%             | 2030-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XFSF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    324121 | PA      | $293093.58    | 0.27%             | 2048-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority | University of Massachusetts Building Authority                              | CUSIP: 914440KK7<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35039.19     | 0.03%             | 2039-05-01      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                  | Citigroup, Inc.                                                             | CUSIP: 17327CAU7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150508.42    | 0.14%             | 2039-09-19      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                             | Union Pacific Corp.                                                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      6400 | NS      | $1512768.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                              | Johnson & Johnson                                                           | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     11000 | NS      | $2039620.00   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| GLP CAPITAL LP / FIN II                        | GLP Capital LP/GLP Financing II, Inc.                                       | CUSIP: 361841AR0<br>LEI: N/A                  | Long             | DBT              |  | US        |    200000 | PA      | $179934.38    | 0.16%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 31334YPZ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    379716 | PA      | $329614.74    | 0.30%             | 2048-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp                                | McDonald's Corp.                                                            | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      2100 | NS      | $638169.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association REMICS                                | CUSIP: 3136BULD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    420462 | PA      | $425870.77    | 0.39%             | 2051-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                    | Oracle Corp.                                                                | CUSIP: 68389XCA1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    250000 | PA      | $185877.07    | 0.17%             | 2051-03-25      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138ACAT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5059 | PA      | $4924.68      | 0.00%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 31292R7M8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     41396 | PA      | $39248.66     | 0.04%             | 2042-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP                            | Carrier Global Corp.                                                        | CUSIP: 14448CBD5<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     98000 | PA      | $106263.84    | 0.10%             | 2054-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                              | Kinder Morgan, Inc.                                                         | CUSIP: 49456BAH4<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    350000 | PA      | $339954.76    | 0.31%             | 2045-06-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132XVH97<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    108650 | PA      | $101082.81    | 0.09%             | 2047-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co.                                                        | CUSIP: 46647PEC6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    250000 | PA      | $259843.91    | 0.24%             | 2035-01-23      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| OLD REPUBLIC INTL CORP                         | Old Republic International Corp.                                            | CUSIP: 680223AL8<br>LEI: 549300IV6O2YY2A1KH37 | Long             | DBT              | CORP              | US        |    250000 | PA      | $181307.54    | 0.17%             | 2051-06-11      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                              | State Street Corp.                                                          | CUSIP: 857477BF9<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117298.28    | 0.11%             | 2034-11-01      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                             | NextEra Energy, Inc.                                                        | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     23250 | NS      | $1755142.50   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR GROUP FINAN CO VIII                        | KKR Group Finance Co. VIII LLC                                              | CUSIP: 48252MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $179440.95    | 0.16%             | 2050-08-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS BDC INC                          | Goldman Sachs BDC, Inc.                                                     | CUSIP: 38147UAD9<br>LEI: 6D01AGSGBNZIJSN77043 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198857.83    | 0.18%             | 2026-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                       | AT&T, Inc.                                                                  | CUSIP: 00206RCQ3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     75000 | PA      | $66973.01     | 0.06%             | 2046-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Phillips 66                                    | Phillips 66                                                                 | CUSIP: 718546AK0<br>LEI: 5493005JBO5YSIGK1814 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97607.91     | 0.09%             | 2034-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                          | Truist Financial Corp.                                                      | CUSIP: 89788MAM4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203199.92    | 0.19%             | 2034-01-26      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138AVP82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     49739 | PA      | $48681.72     | 0.04%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140F9UD5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     55774 | PA      | $53639.75     | 0.05%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                | Cigna Group                                                                 | CUSIP: 125523AH3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50263.01     | 0.05%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                     | AbbVie, Inc.                                                                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      6275 | NS      | $1452913.50   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                               | Duke Energy Corp.                                                           | CUSIP: 26441CAT2<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    250000 | PA      | $191650.22    | 0.17%             | 2046-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                             | Energy Transfer LP                                                          | CUSIP: 29273VAU4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $273447.12    | 0.25%             | 2033-12-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418BPP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     65658 | PA      | $61725.58     | 0.06%             | 2045-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Air Products and Chemicals Inc                 | Air Products & Chemicals, Inc.                                              | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |      3100 | NS      | $845432.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVON ENERGY CORPORATION                       | Devon Energy Corp.                                                          | CUSIP: 25179MBG7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    400000 | PA      | $398269.10    | 0.36%             | 2034-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| EMPOWER FINANCE 2020 LP                        | Empower Finance 2020 LP                                                     | CUSIP: 29248HAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $227658.30    | 0.21%             | 2051-09-17      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140QP2R7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    616944 | PA      | $603255.10    | 0.55%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138EJ4Q8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66492 | PA      | $62718.42     | 0.06%             | 2042-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bonds                                                         | CUSIP: 912810SL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    700000 | PA      | $418605.47    | 0.38%             | 2050-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JPMorgan Mortgage Trust                                                     | CUSIP: 46592EAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    406223 | PA      | $337704.59    | 0.31%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                             | Energy Transfer LP                                                          | CUSIP: 29278NAG8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102886.34    | 0.09%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                            | CDW LLC/CDW Finance Corp.                                                   | CUSIP: 12513GBK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    204000 | PA      | $207617.46    | 0.19%             | 2030-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                                  | J.M. Smucker Co.                                                            | CUSIP: 832696AX6<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    250000 | PA      | $271531.71    | 0.25%             | 2033-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                         | Diamondback Energy, Inc.                                                    | CUSIP: 25278XAZ2<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    295000 | PA      | $301160.31    | 0.27%             | 2034-04-18      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418DHH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     79597 | PA      | $74510.77     | 0.07%             | 2039-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| EOG Resources Inc                              | EOG Resources, Inc.                                                         | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     11300 | NS      | $1266956.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                                       | NIKE, Inc.                                                                  | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     10440 | NS      | $727981.20    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| LYB INT FINANCE III                            | LYB International Finance III LLC                                           | CUSIP: 50249AAJ2<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |    100000 | PA      | $66919.21     | 0.06%             | 2051-04-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors                   | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |    611820 | NS      | $611820.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XKX21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    273647 | PA      | $251535.08    | 0.23%             | 2049-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                         | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $252910.16    | 0.23%             | 2032-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140QPZ34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    415302 | PA      | $380912.46    | 0.35%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418ECH1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    547506 | PA      | $486232.05    | 0.44%             | 2042-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bonds                                                         | CUSIP: 912810QX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $778242.19    | 0.71%             | 2042-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138ASR46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28435 | PA      | $27711.68     | 0.03%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DWFH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    190236 | PA      | $192932.66    | 0.18%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VULCAN MATERIALS CO                            | Vulcan Materials Co.                                                        | CUSIP: 929160AZ2<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    275000 | PA      | $265648.80    | 0.24%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                         | PNC Financial Services Group, Inc.                                          | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    250000 | PA      | $283238.20    | 0.26%             | 2034-10-20      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XG3N7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    186226 | PA      | $177338.45    | 0.16%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DWGG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    207098 | PA      | $206354.10    | 0.19%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                   | Comcast Corp.                                                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     28100 | NS      | $882902.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                                     | U.S. Bancorp                                                                | CUSIP: 91159HJL5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225985.20    | 0.21%             | 2034-02-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 31334XEE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    149832 | PA      | $133118.92    | 0.12%             | 2049-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138MFP76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     38041 | PA      | $34987.99     | 0.03%             | 2042-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association REMICS                                | CUSIP: 3136A8RZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     90551 | PA      | $88441.37     | 0.08%             | 2027-09-25      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DWFG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    402476 | PA      | $401505.19    | 0.37%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp. REMICS                                     | CUSIP: 31396UUY4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     59556 | PA      | $60776.51     | 0.06%             | 2036-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                                     | VMware LLC                                                                  | CUSIP: 928563AL9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    250000 | PA      | $220505.62    | 0.20%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Medtronic PLC                                  | Medtronic PLC                                                               | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     15750 | NS      | $1500030.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| DELL INT LLC / EMC CORP                        | Dell International LLC/EMC Corp.                                            | CUSIP: 24703DBH3<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    250000 | PA      | $175668.70    | 0.16%             | 2051-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                          | Huntington Bancshares, Inc.                                                 | CUSIP: 446150AX2<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    300000 | PA      | $256790.20    | 0.23%             | 2036-08-15      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| PepsiCo Inc                                    | PepsiCo, Inc.                                                               | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      6600 | NS      | $926904.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYPAL HOLDINGS INC                            | PayPal Holdings, Inc.                                                       | CUSIP: 70450YAT0<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102275.28    | 0.09%             | 2035-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3133KQFT8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    607891 | PA      | $606804.05    | 0.55%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PSMC Trust                                     | PSMC Trust                                                                  | CUSIP: 693650AL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    288160 | PA      | $257468.82    | 0.23%             | 2051-03-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Texas Instruments Inc                          | Texas Instruments, Inc.                                                     | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      7700 | NS      | $1414721.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                                  | CME Group, Inc.                                                             | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      5925 | NS      | $1600875.75   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138ELK51<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     83572 | PA      | $81384.78     | 0.07%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132WLRX6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     26685 | PA      | $25695.35     | 0.02%             | 2047-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bonds                                                         | CUSIP: 912810QS0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $227197.27    | 0.21%             | 2041-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3133BBTU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    243077 | PA      | $222419.68    | 0.20%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JPMorgan Mortgage Trust                                                     | CUSIP: 46653PAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    484456 | PA      | $435255.62    | 0.40%             | 2051-10-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc                            | Elevance Health, Inc.                                                       | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      2050 | NS      | $662396.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY CORP                             | Valero Energy Corp.                                                         | CUSIP: 91913YBE9<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    100000 | PA      | $74363.83     | 0.07%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                 | Lowe's Cos., Inc.                                                           | CUSIP: 548661DZ7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    150000 | PA      | $97047.41     | 0.09%             | 2050-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP                            | Carrier Global Corp.                                                        | CUSIP: 14448CAS3<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     34000 | PA      | $25356.34     | 0.02%             | 2050-04-05      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31416M4T8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1783 | PA      | $1796.59      | 0.00%             | 2039-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co/The                        | Procter & Gamble Co.                                                        | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      5775 | NS      | $887328.75    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY PARTNERS                         | Valero Energy Partners LP                                                   | CUSIP: 91914JAB8<br>LEI: 549300WH1375KZXLJ231 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251947.88    | 0.23%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3128MMXU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     40622 | PA      | $40620.24     | 0.04%             | 2033-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3128MMXX6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     27919 | PA      | $27919.76     | 0.03%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos Inc                                 | Lowe's Cos., Inc.                                                           | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      5200 | NS      | $1306812.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140QNM25<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    372042 | PA      | $329826.34    | 0.30%             | 2042-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 31292LV28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     46185 | PA      | $42549.19     | 0.04%             | 2042-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Cummins Inc                                    | Cummins, Inc.                                                               | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      1900 | NS      | $802503.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138LWL33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     47753 | PA      | $45033.11     | 0.04%             | 2042-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                      | Towd Point Mortgage Trust                                                   | CUSIP: 89183CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    187707 | PA      | $189026.45    | 0.17%             | 2064-01-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bonds                                                         | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    715000 | PA      | $709777.15    | 0.65%             | 2044-05-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XKS43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    204438 | PA      | $174183.72    | 0.16%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| American Tower Corp                            | American Tower Corp.                                                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |      5850 | NS      | $1125072.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINANCIAL CORP                          | Truist Financial Corp.                                                      | CUSIP: 89788MAP7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    300000 | PA      | $317857.74    | 0.29%             | 2034-06-08      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Rockwell Automation Inc                        | Rockwell Automation, Inc.                                                   | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      2450 | NS      | $856348.50    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 312945QJ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21600 | PA      | $20713.24     | 0.02%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                         | CUSIP: 91282CHR5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $252822.27    | 0.23%             | 2030-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418EHJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    203987 | PA      | $192948.69    | 0.18%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                             | Realty Income Corp.                                                         | CUSIP: 756109BR4<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    200000 | PA      | $205097.12    | 0.19%             | 2030-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| UBS GROUP AG                                   | UBS Group AG                                                                | CUSIP: 902613AS7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $200664.74    | 0.18%             | 2027-08-05      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Chevron Corp                                   | Chevron Corp.                                                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7700 | NS      | $1195733.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418ESB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    499991 | PA      | $500004.36    | 0.46%             | 2038-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                         | CUSIP: 91282CKV2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $507949.22    | 0.46%             | 2027-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418DET5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     82221 | PA      | $75999.28     | 0.07%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138A5GN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4780 | PA      | $4663.87      | 0.00%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                              | CBRE Services, Inc.                                                         | CUSIP: 12505BAJ9<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126985.15    | 0.12%             | 2030-06-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                      | CIM Trust                                                                   | CUSIP: 12564EAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    244778 | PA      | $220417.50    | 0.20%             | 2051-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp                        | Marathon Petroleum Corp.                                                    | CUSIP: 56585ABD3<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173290.48    | 0.16%             | 2028-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31416XJ27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     35829 | PA      | $34928.27     | 0.03%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bunker Hill Loan Depositary Trust 2020-1       | Bunker Hill Loan Depositary Trust                                           | CUSIP: 12062RAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13820 | PA      | $13714.29     | 0.01%             | 2055-02-25      | Variable      | 1.72%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Government National Mortgage Association                                    | CUSIP: 3620A7ZM0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1393 | PA      | $1388.15      | 0.00%             | 2040-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140QPCQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    209785 | PA      | $198272.92    | 0.18%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                       | Capital One Financial Corp.                                                 | CUSIP: 14040HCS2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202059.81    | 0.18%             | 2028-05-10      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                              | Healthpeak OP LLC                                                           | CUSIP: 40414LAQ2<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              |  | US        |    150000 | PA      | $148922.64    | 0.14%             | 2026-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132HL2Q5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21684 | PA      | $20487.72     | 0.02%             | 2042-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                        | CarMax Auto Owner Trust                                                     | CUSIP: 14318MAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    203000 | PA      | $202901.67    | 0.18%             | 2028-02-15      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3128MJMK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    117587 | PA      | $118374.55    | 0.11%             | 2039-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos Inc                       | Marsh & McLennan Cos., Inc.                                                 | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      4325 | NS      | $871617.25    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| TORONTO-DOMINION BANK                          | Toronto-Dominion Bank                                                       | CUSIP: 89115A2E1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $249810.27    | 0.23%             | 2032-06-08      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                            | Fifth Third Bancorp                                                         | CUSIP: 316773DF4<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194922.25    | 0.18%             | 2033-04-25      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138EKMW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     91881 | PA      | $84527.76     | 0.08%             | 2043-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                        | Pfizer Investment Enterprises Pte. Ltd.                                     | CUSIP: 716973AG7<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $193277.32    | 0.18%             | 2053-05-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| PAYCHEX INC                                    | Paychex, Inc.                                                               | CUSIP: 704326AC1<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209376.42    | 0.19%             | 2035-04-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| DIAGEO INVESTMENT CORP                         | Diageo Investment Corp.                                                     | CUSIP: 25245BAC1<br>LEI: S4G8DPIPDVCF6CB81Z61 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207214.42    | 0.19%             | 2030-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DPMV7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    242842 | PA      | $247816.56    | 0.23%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3129366F9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1247 | PA      | $1254.85      | 0.00%             | 2039-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EXXON MOBIL CORPORATION                        | Exxon Mobil Corp.                                                           | CUSIP: 30231GAW2<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    225000 | PA      | $190776.57    | 0.17%             | 2046-03-01      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                            | Fifth Third Bancorp                                                         | CUSIP: 316773DK3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105366.49    | 0.10%             | 2029-07-27      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                               | Exxon Mobil Corp.                                                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      8100 | NS      | $913275.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co.                                                           | CUSIP: 95000U3E1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    250000 | PA      | $259087.97    | 0.24%             | 2029-07-25      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XH3P0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    219839 | PA      | $214243.79    | 0.20%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GCAT                                           | GCAT Trust                                                                  | CUSIP: 36167TAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    115179 | PA      | $103031.34    | 0.09%             | 2066-01-25      | Variable      | 0.87%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                              | CUSIP: 61747YFL4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    250000 | PA      | $260386.07    | 0.24%             | 2035-01-18      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE SERVICE CORP                       | Health Care Service Corp. A Mutual Legal Reserve Co.                        | CUSIP: 42218SAF5<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |    350000 | PA      | $316431.42    | 0.29%             | 2030-06-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                       | Capital One Financial Corp.                                                 | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209802.41    | 0.19%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                           | Royal Bank of Canada                                                        | CUSIP: 78016HZW3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $182315.70    | 0.17%             | 2034-02-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132GJSD2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     43209 | PA      | $43250.08     | 0.04%             | 2041-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                        | Dell International LLC/EMC Corp.                                            | CUSIP: 24703TAK2<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |     19000 | PA      | $24693.54     | 0.02%             | 2046-07-15      | Fixed         | 8.35%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                     | Fiserv, Inc.                                                                | CUSIP: 337738AU2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194387.87    | 0.18%             | 2029-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Hershey Co/The                                 | Hershey Co.                                                                 | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      4225 | NS      | $790286.25    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Sequoia Mortgage Trust                         | Sequoia Mortgage Trust                                                      | CUSIP: 81745CAB9<br>LEI: 549300DFASAA48I36408 | Long             | ABS-MBS          | CORP              | US        |    169804 | PA      | $153168.81    | 0.14%             | 2043-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DWJG9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    307837 | PA      | $315363.74    | 0.29%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                  | Citigroup, Inc.                                                             | CUSIP: 172967NU1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202416.84    | 0.18%             | 2033-05-24      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group, Inc.                                                   | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    250000 | PA      | $258526.42    | 0.24%             | 2031-04-23      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132D6J50<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    374653 | PA      | $378561.68    | 0.34%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XPTR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    297285 | PA      | $300974.82    | 0.27%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132GFK22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4533 | PA      | $4423.32      | 0.00%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                       | AerCap Ireland Capital DAC/AerCap Global Aviation Trust                     | CUSIP: 00774MAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    250000 | PA      | $251872.92    | 0.23%             | 2027-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418EKU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    514916 | PA      | $514074.59    | 0.47%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp.                                                       | CUSIP: 06051GKL2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    250000 | PA      | $233572.17    | 0.21%             | 2037-03-08      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                           | Bank of America Corp.                                                       | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     25750 | NS      | $1328442.50   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association       | Government National Mortgage Association                                    | CUSIP: 36179DE30<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     27404 | PA      | $25618.46     | 0.02%             | 2042-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132QSGY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     85243 | PA      | $80235.17     | 0.07%             | 2045-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                        | MPLX LP                                                                     | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    400000 | PA      | $367232.99    | 0.33%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418CR89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     87001 | PA      | $81017.62     | 0.07%             | 2047-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc/The                             | Home Depot, Inc.                                                            | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      4225 | NS      | $1711927.75   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXTRON INC                                    | Textron, Inc.                                                               | CUSIP: 883203CC3<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |    250000 | PA      | $225106.42    | 0.20%             | 2031-03-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co.                                                           | CUSIP: 95000U3J0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128737.28    | 0.12%             | 2030-01-23      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3133KYU64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    807013 | PA      | $697599.77    | 0.64%             | 2041-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3128M6NJ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15968 | PA      | $16633.68     | 0.02%             | 2037-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140X9EC5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    245454 | PA      | $233561.38    | 0.21%             | 2050-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138AAFW6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1722 | PA      | $1722.37      | 0.00%             | 2041-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                       | Omega Healthcare Investors, Inc.                                            | CUSIP: 681936BM1<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |    225000 | PA      | $208791.85    | 0.19%             | 2031-02-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                            | Abbott Laboratories                                                         | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      8650 | NS      | $1158581.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TRACTOR SUPPLY CO                              | Tractor Supply Co.                                                          | CUSIP: 892356AB2<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103109.82    | 0.09%             | 2033-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                         | CUSIP: 91282CGP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1400000 | PA      | $1412359.37   | 1.29%             | 2028-02-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140X6QT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    670723 | PA      | $582665.00    | 0.53%             | 2047-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138WGAK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     34380 | PA      | $32320.92     | 0.03%             | 2045-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                | DTE Electric Co.                                                            | CUSIP: 23338VAT3<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247818.83    | 0.23%             | 2053-04-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                       | AT&T, Inc.                                                                  | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    200000 | PA      | $175091.71    | 0.16%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                      | Chesapeake Funding II LLC                                                   | CUSIP: 165183CU6<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |    163608 | PA      | $164612.29    | 0.15%             | 2035-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                             | Athene Holding Ltd.                                                         | CUSIP: 04686JAH4<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127435.86    | 0.12%             | 2054-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DWFR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    407581 | PA      | $406158.99    | 0.37%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138X82D2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    170725 | PA      | $168245.59    | 0.15%             | 2028-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fixed Income Clearing Corp                     | FIXED INC CLEARING CORP.REPO                                                | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |    892504 | PA      | $892504.37    | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                                | BAE Systems PLC                                                             | CUSIP: 05523RAL1<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $259060.62    | 0.24%             | 2034-03-26      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JPMorgan Mortgage Trust                                                     | CUSIP: 46658RAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    151438 | PA      | $153263.88    | 0.14%             | 2054-11-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                         | CUSIP: 91282CFY2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1006445.31   | 0.92%             | 2029-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418EJ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    375906 | PA      | $374613.15    | 0.34%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140MHSX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    243255 | PA      | $205307.07    | 0.19%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association REMICS                                | CUSIP: 3136BUHL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    660589 | PA      | $668922.30    | 0.61%             | 2051-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140QPA56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    944962 | PA      | $892959.91    | 0.81%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Analog Devices Inc                             | Analog Devices, Inc.                                                        | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      2700 | NS      | $663390.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| JEFFERIES FIN GROUP INC                        | Jefferies Financial Group, Inc.                                             | CUSIP: 47233JGT9<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    250000 | PA      | $222355.33    | 0.20%             | 2031-10-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Illinois Tool Works Inc                        | Illinois Tool Works, Inc.                                                   | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      5200 | NS      | $1355952.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418DFG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     55585 | PA      | $54782.37     | 0.05%             | 2029-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XLRS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    226064 | PA      | $220789.08    | 0.20%             | 2053-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp.                                                       | CUSIP: 06051GJZ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    300000 | PA      | $284168.42    | 0.26%             | 2029-06-14      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bonds                                                         | CUSIP: 912810RX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    750000 | PA      | $570996.09    | 0.52%             | 2047-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                         | Mitsubishi UFJ Financial Group, Inc.                                        | CUSIP: 606822CT9<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    250000 | PA      | $260463.93    | 0.24%             | 2031-02-22      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31417FU71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     65537 | PA      | $60250.11     | 0.05%             | 2043-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                     | U.S. Bancorp                                                                | CUSIP: 91159HJQ4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129239.82    | 0.12%             | 2030-01-23      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132XYTE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     49688 | PA      | $49130.55     | 0.04%             | 2048-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTL GROUP                            | American International Group, Inc.                                          | CUSIP: 026874DL8<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90479.49     | 0.08%             | 2048-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VONTIER CORP                                   | Vontier Corp.                                                               | CUSIP: 928881AB7<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197237.25    | 0.18%             | 2026-04-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DVMD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    543041 | PA      | $482542.71    | 0.44%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XMFR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    204389 | PA      | $208123.43    | 0.19%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                            | Synchrony Financial                                                         | CUSIP: 87165BAL7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99355.87     | 0.09%             | 2026-08-04      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                 | Enterprise Fleet Financing LLC                                              | CUSIP: 29374GAB7<br>LEI: RKWYUSIDZTWNAX1D9U96 | Long             | ABS-O            | CORP              | US        |     61492 | PA      | $61786.57     | 0.06%             | 2029-10-22      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| PECO ENERGY CO                                 | PECO Energy Co.                                                             | CUSIP: 693304BA4<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |    250000 | PA      | $164922.57    | 0.15%             | 2051-03-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3128MJWP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    317484 | PA      | $288738.27    | 0.26%             | 2045-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132L5A37<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    108272 | PA      | $99669.07     | 0.09%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                         | CUSIP: 91282CJA0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    800000 | PA      | $822500.00    | 0.75%             | 2028-09-30      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY CORP                             | Valero Energy Corp.                                                         | CUSIP: 91913YBF6<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154408.88    | 0.14%             | 2030-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3133L7SJ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    154353 | PA      | $145735.88    | 0.13%             | 2035-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132A9S65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     52212 | PA      | $50287.19     | 0.05%             | 2032-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Wealth Management                  | JPMorgan Wealth Management                                                  | CUSIP: 46652HAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     96206 | PA      | $84358.98     | 0.08%             | 2050-02-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XKQB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    164254 | PA      | $155615.92    | 0.14%             | 2036-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DQQ33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    413450 | PA      | $420936.83    | 0.38%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                        | Jefferies Financial Group, Inc.                                             | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    100000 | PA      | $106319.65    | 0.10%             | 2034-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                         | CUSIP: 91282CKQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1023125.00   | 0.93%             | 2034-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                           | Keurig Dr. Pepper, Inc.                                                     | CUSIP: 49271VAK6<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    200000 | PA      | $145005.08    | 0.13%             | 2050-05-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp                                 | Starbucks Corp.                                                             | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      6400 | NS      | $541440.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity PLC                            | TE Connectivity PLC                                                         | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |      6200 | NS      | $1361086.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138ETSG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66717 | PA      | $65662.28     | 0.06%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DNB51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    578333 | PA      | $536504.38    | 0.49%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| QUANTA SERVICES INC                            | Quanta Services, Inc.                                                       | CUSIP: 74762EAF9<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |    300000 | PA      | $280063.52    | 0.26%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132L5A29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    111302 | PA      | $102338.12    | 0.09%             | 2043-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp                             | Valero Energy Corp.                                                         | CUSIP: 91913YAL4<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    250000 | PA      | $277216.78    | 0.25%             | 2037-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DM2T1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    625363 | PA      | $513636.49    | 0.47%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                       | JPMorgan Mortgage Trust                                                     | CUSIP: 46592KAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    191167 | PA      | $158913.28    | 0.14%             | 2051-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association REMICS                                | CUSIP: 3136BUH37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    215960 | PA      | $218655.64    | 0.20%             | 2051-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association REMICS                                | CUSIP: 31397SHK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     72776 | PA      | $71511.90     | 0.07%             | 2031-04-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132HLZM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     49625 | PA      | $46891.35     | 0.04%             | 2042-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                 | Morgan Stanley                                                              | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     11700 | NS      | $1859832.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                                | Caterpillar, Inc.                                                           | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1300 | NS      | $620295.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MARS INC                                       | Mars, Inc.                                                                  | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101294.62    | 0.09%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                       | Liberty Mutual Group, Inc.                                                  | CUSIP: 53079EBK9<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    100000 | PA      | $71072.52     | 0.06%             | 2060-05-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138WF6D3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     57447 | PA      | $54620.39     | 0.05%             | 2035-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418ELY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    154207 | PA      | $156393.67    | 0.14%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132XUJZ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    104622 | PA      | $97616.46     | 0.09%             | 2047-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418DY89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    663470 | PA      | $589858.26    | 0.54%             | 2041-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                       | Delta Air Lines, Inc./SkyMiles IP Ltd.                                      | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    250000 | PA      | $251405.75    | 0.23%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132E0EL2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    248961 | PA      | $257420.02    | 0.23%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 312942KP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1984 | PA      | $1943.38      | 0.00%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138M5W88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     29094 | PA      | $27496.79     | 0.03%             | 2042-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418ET67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    609039 | PA      | $615038.83    | 0.56%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WRKCo Inc                                      | WRKCo, Inc.                                                                 | CUSIP: 92940PAE4<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123964.21    | 0.11%             | 2028-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DPD21<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    202388 | PA      | $198336.58    | 0.18%             | 2052-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DSNS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     84966 | PA      | $86187.70     | 0.08%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138ET4J2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     41363 | PA      | $40746.08     | 0.04%             | 2030-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132D9EY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    315339 | PA      | $283272.86    | 0.26%             | 2041-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418CNQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26548 | PA      | $26183.66     | 0.02%             | 2032-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                    | Walmart, Inc.                                                               | CUSIP: 931142FP3<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    250000 | PA      | $257165.32    | 0.23%             | 2035-04-28      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                      | Amgen, Inc.                                                                 | CUSIP: 031162DT4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74808.17     | 0.07%             | 2053-03-02      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| INTERSTATE POWER & LIGHT                       | Interstate Power & Light Co.                                                | CUSIP: 461070AR5<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |    225000 | PA      | $163364.00    | 0.15%             | 2049-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31416YT81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30774 | PA      | $30781.95     | 0.03%             | 2041-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140MNP75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    428326 | PA      | $396674.40    | 0.36%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                 | Enterprise Fleet Financing LLC                                              | CUSIP: 29375CAB5<br>LEI: RKWYUSIDZTWNAX1D9U96 | Long             | ABS-O            | CORP              | US        |     53166 | PA      | $53315.16     | 0.05%             | 2029-01-22      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                    | RCKT Mortgage Trust                                                         | CUSIP: 74939KAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    280755 | PA      | $250223.07    | 0.23%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust            | GS Mortgage-Backed Securities Corp. Trust                                   | CUSIP: 36260RAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    143611 | PA      | $118372.45    | 0.11%             | 2051-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418AAV0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     79350 | PA      | $77990.00     | 0.07%             | 2031-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Automatic Data Processing Inc                  | Automatic Data Processing, Inc.                                             | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      5050 | NS      | $1482175.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HP INC                                         | HP, Inc.                                                                    | CUSIP: 40434LAJ4<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    250000 | PA      | $225515.17    | 0.21%             | 2031-06-17      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140QPHX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    589362 | PA      | $540560.67    | 0.49%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418ELX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    260443 | PA      | $259547.21    | 0.24%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XHAU1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    421284 | PA      | $398295.55    | 0.36%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                           | FREMF Mortgage Trust                                                        | CUSIP: 30313WAE8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    250000 | PA      | $235721.58    | 0.21%             | 2053-03-25      | Variable      | 3.68%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132HMFS5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     63323 | PA      | $59322.73     | 0.05%             | 2042-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Aflac Inc                                      | Aflac, Inc.                                                                 | CUSIP: 001055AY8<br>LEI: 549300N0B7DOGLXWPP39 | Long             | DBT              | CORP              | US        |    250000 | PA      | $224287.63    | 0.20%             | 2049-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bonds                                                         | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $923125.00    | 0.84%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140KEJK5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    396613 | PA      | $360125.30    | 0.33%             | 2040-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Government National Mortgage Association REMICS                             | CUSIP: 38381LTG7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    241800 | PA      | $238845.18    | 0.22%             | 2065-03-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3128MJQR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3426 | PA      | $3336.25      | 0.00%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colgate-Palmolive Co                           | Colgate-Palmolive Co.                                                       | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      9150 | NS      | $731451.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TEACHERS INSUR & ANNUITY                       | Teachers Insurance & Annuity Association of America                         | CUSIP: 878091BG1<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |    200000 | PA      | $137786.60    | 0.13%             | 2050-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bonds                                                         | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1100000 | PA      | $994253.91    | 0.91%             | 2053-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                            | JPMorgan Chase & Co.                                                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      4250 | NS      | $1340577.50   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DPB49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    384082 | PA      | $391748.89    | 0.36%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3138LUSY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     37134 | PA      | $35211.14     | 0.03%             | 2042-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fanniemae-Aces                                 | Federal National Mortgage Association-ACES                                  | CUSIP: 3136AY6U2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    407492 | PA      | $401586.55    | 0.37%             | 2027-11-25      | Variable      | 3.21%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XCGM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    273968 | PA      | $261038.14    | 0.24%             | 2051-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3132DPSX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    251918 | PA      | $251318.57    | 0.23%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                             | Royalty Pharma PLC                                                          | CUSIP: 78081BAK9<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $179559.30    | 0.16%             | 2030-09-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418BM37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     55937 | PA      | $55460.94     | 0.05%             | 2035-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                         | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $498691.41    | 0.45%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140X4NV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    461973 | PA      | $418938.60    | 0.38%             | 2048-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bonds                                                         | CUSIP: 912810QQ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $491308.60    | 0.45%             | 2041-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                   | Enbridge, Inc.                                                              | CUSIP: 29250NBR5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $131544.68    | 0.12%             | 2033-03-08      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| EASTERN GAS TRAN                               | Eastern Gas Transmission & Storage, Inc.                                    | CUSIP: 276480AH3<br>LEI: H2VQBNB3NSKRM5QWBI71 | Long             | DBT              | CORP              | US        |    250000 | PA      | $237856.10    | 0.22%             | 2029-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                     | Humana, Inc.                                                                | CUSIP: 444859CA8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154291.62    | 0.14%             | 2031-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                                | Weyerhaeuser Co.                                                            | CUSIP: 962166CA0<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              |  | US        |    200000 | PA      | $182050.05    | 0.17%             | 2033-03-09      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bonds                                                         | CUSIP: 912810QY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    800000 | PA      | $619593.75    | 0.56%             | 2042-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Federal Home Loan Mortgage Corp.                                            | CUSIP: 3133KPFV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    367702 | PA      | $337254.06    | 0.31%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 3140XJD34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    200297 | PA      | $195750.20    | 0.18%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fastenal Co                                    | Fastenal Co.                                                                | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     24800 | NS      | $1216192.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Federal National Mortgage Association                                       | CUSIP: 31418CPL2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26736 | PA      | $26401.99     | 0.02%             | 2032-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                      | Towd Point Mortgage Trust                                                   | CUSIP: 89183GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425757 | PA      | $426523.61    | 0.39%             | 2064-10-27      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                                 | ConocoPhillips                                                              | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      7400 | NS      | $699966.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust   | Wells Fargo Mortgage-Backed Securities Trust                                | CUSIP: 95003FBR3<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |    176442 | PA      | $146230.89    | 0.13%             | 2051-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Government National Mortgage Association                                    | CUSIP: 3620A9Y54<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3328 | PA      | $3214.98      | 0.00%             | 2039-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

**Name of Applicant:** TRANSAMERICA SERIES TRUST

**Signature:** Kari Seabrands

**Name of Signer:** Kari Seabrands

**Title:** Treasurer