# EDGAR Filing Document

**Accession Number:** 0001454889
**File Stem:** 0001752724-25-201749
**Filing Date:** 2025-8
**Character Count:** 135317
**Document Hash:** 627a31a27f2457f46d39202b64f726bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-201749.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-201749

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHWAB STRATEGIC TRUST
- **CENTRAL INDEX KEY:** 0001454889

**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:** 811-22311
- **FILM NUMBER:** 251249675

**BUSINESS ADDRESS:**
- **STREET 1:** 211 MAIN STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** 1-415-667-7000

**MAIL ADDRESS:**
- **STREET 1:** 211 MAIN STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Schwab Strategic Trust
- **DATE OF NAME CHANGE:** 20090127

## Series and Classes Contracts Data

### Schwab Core Bond ETF (Series ID: S000089699)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000256323 | Schwab Core Bond ETF | SCCR            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SCHWAB STRATEGIC TRUST

- **b. Investment Company Act file number:** 811-22311

- **c. CIK number of Registrant:** 0001454889

- **d. LEI of Registrant:** 549300NAZEQOIX80E226

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

  - **Street Address 1:** 211 MAIN STREET

  - **City:** SAN FRANCISCO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 800-648-5300

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

- **a. Name of Series:** Schwab Core Bond ETF

- **b. EDGAR series identifier (if any):** S000089699

- **c. LEI of Series:** 254900BQL27NJ8TXFS89

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $298811571.87

**Total Liabilities:** $4767456.34

**Net Assets:** $294044115.53

**Delayed Delivery Securities:** $4732239.58

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.37000000 | **1-Year:** 728.18000000 | **5-Year:** 18253.97000000 | **10-Year:** 46716.36000000 | **30-Year:** 90981.83000000

**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 C000256323 | 0.29%                | -0.61%               | 1.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-90680.65               | $-76459.78                                 |
| Month 2  | $-348040.77              | $-1308376.27                               |
| Month 3  | $10870.77                | $3430525.81                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWBC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    578140 | PA      | $483524.02    | 0.16%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                            | Synopsys Inc                                                            | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   2075000 | PA      | $2105087.50   | 0.72%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA                                                 | PHILADELPHIA PA                                                         | CUSIP: 717813D97<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    550000 | PA      | $559896.70    | 0.19%             | 2030-08-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Texas Tech University System                                            | Texas Tech University System                                            | CUSIP: 882806LK6<br>LEI: 549300SPM8LGJKCQO195 | Long             | DBT              | MUN               | US        |    125000 | PA      | $127164.00    | 0.04%             | 2039-02-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XQU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    540128 | PA      | $507194.80    | 0.17%             | 2053-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418ECD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    685174 | PA      | $626007.78    | 0.21%             | 2037-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 3618N5C72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    549205 | PA      | $557459.05    | 0.19%             | 2054-12-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                            | Michigan State Housing Development Authority                            | CUSIP: 594654D51<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150601.65    | 0.05%             | 2027-12-01      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                    | Massachusetts Housing Finance Agency                                    | CUSIP: 57587GW50<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503782.50    | 0.17%             | 2031-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179V4W7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    682554 | PA      | $605610.28    | 0.21%             | 2051-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140W0GX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    975500 | PA      | $957881.51    | 0.33%             | 2054-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Lottery                                                    | Oregon State Lottery                                                    | CUSIP: 68607V6Y6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253395.50    | 0.09%             | 2030-04-01      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWPT4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    977692 | PA      | $994196.01    | 0.34%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VFP0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    494571 | PA      | $439263.84    | 0.15%             | 2050-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179YAQ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1008070 | PA      | $973203.32    | 0.33%             | 2053-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWF57<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2518399 | PA      | $2482924.58   | 0.84%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36180AAG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     97831 | PA      | $99328.27     | 0.03%             | 2054-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                       | Kinder Morgan Inc                                                       | CUSIP: 49456BBB6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   2740000 | PA      | $2799814.20   | 0.95%             | 2030-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133KL2H9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1176060 | PA      | $988429.87    | 0.34%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | NEW YORK NY                                                             | CUSIP: 64966SNA0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1423678.62   | 0.48%             | 2034-02-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| JEA District Energy System Revenue                                      | JEA District Energy System Revenue                                      | CUSIP: 46615MBC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $296064.60    | 0.10%             | 2055-10-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWNB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    296183 | PA      | $305782.95    | 0.10%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| University of North Texas System                                        | University of North Texas System                                        | CUSIP: 914729WY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $321198.40    | 0.11%             | 2039-04-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XHRS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    366623 | PA      | $332832.72    | 0.11%             | 2052-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| City of Shelbyville TN                                                  | City of Shelbyville                                                     | CUSIP: 822346KJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $219861.30    | 0.07%             | 2027-08-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                    | Bank of America Corp                                                    | CUSIP: 06051GMA4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1335000 | PA      | $1372153.05   | 0.47%             | 2035-01-23      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179Y2N3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    144989 | PA      | $148775.40    | 0.05%             | 2054-07-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                 | Goldman Sachs Group Inc/The                                             | CUSIP: 38143U8H7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    480000 | PA      | $478056.00    | 0.16%             | 2026-02-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662EE4<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    410000 | PA      | $413664.58    | 0.14%             | 2031-10-01      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Texas Tech University System                                            | Texas Tech University System                                            | CUSIP: 882806KZ4<br>LEI: 549300SPM8LGJKCQO195 | Long             | DBT              | MUN               | US        |    200000 | PA      | $203481.00    | 0.07%             | 2029-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418D6C1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    762575 | PA      | $635510.02    | 0.22%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Maryland Department of Housing & Community Development                  | Maryland Department of Housing & Community Development                  | CUSIP: 57419UPG7<br>LEI: 549300Q5BSL77YR7NP93 | Long             | DBT              | MUN               | US        |    655000 | PA      | $665043.12    | 0.23%             | 2032-09-01      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                     | California State Public Works Board                                     | CUSIP: 13068XNS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100609.80    | 0.03%             | 2027-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PROV ST JOSEPH HLTH OBL                                                 | Providence St Joseph Health Obligated Group                             | CUSIP: 743820AG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017860.00   | 0.35%             | 2032-10-01      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| EQT Corp                                                                | EQT Corp                                                                | CUSIP: 26884LAF6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   2810000 | PA      | $2774200.60   | 0.94%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR INC                                                         | Caterpillar Inc                                                         | CUSIP: 149123CL3<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1407172.20   | 0.48%             | 2035-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1738314 | PA      | $1743247.24   | 0.59%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                     | North Dakota Housing Finance Agency                                     | CUSIP: 65889BCS1<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |    475000 | PA      | $484232.10    | 0.16%             | 2031-01-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                                | Florida Power & Light Co                                                | CUSIP: 341081GG6<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   1580000 | PA      | $1396135.40   | 0.47%             | 2032-02-03      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                            | Broadcom Inc                                                            | CUSIP: 11135FBA8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1365000 | PA      | $1382936.10   | 0.47%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| County of St Louis MO                                                   | County of St. Louis                                                     | CUSIP: 791526QV1<br>LEI: 5493003TZLKXNN2MGO51 | Long             | DBT              | MUN               | US        |    435000 | PA      | $413496.65    | 0.14%             | 2027-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XKJ68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    661485 | PA      | $576762.08    | 0.20%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3142J6AR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    992462 | PA      | $1025066.25   | 0.35%             | 2055-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XX43<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    323068 | PA      | $311894.26    | 0.11%             | 2053-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWNZ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    367753 | PA      | $379677.00    | 0.13%             | 2055-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Vermont Housing Finance Agency                                          | Vermont Housing Finance Agency                                          | CUSIP: 924190J44<br>LEI: 549300RD7EYN90K0W008 | Long             | DBT              | MUN               | US        |    135000 | PA      | $135942.71    | 0.05%             | 2034-11-01      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                                | Capital One Financial Corp                                              | CUSIP: 14040HCH6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   2905000 | PA      | $2807275.80   | 0.95%             | 2027-11-02      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWMA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    688087 | PA      | $688454.83    | 0.23%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WQC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    436092 | PA      | $398886.47    | 0.14%             | 2051-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                | Golden State Tobacco Securitization Corp.                               | CUSIP: 38122NA93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $158151.18    | 0.05%             | 2027-06-01      | Fixed         | 1.89%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179X5F9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    641198 | PA      | $619020.55    | 0.21%             | 2053-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                    | Massachusetts Housing Finance Agency                                    | CUSIP: 57587GW92<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $505161.50    | 0.17%             | 2033-06-01      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                              | AbbVie Inc                                                              | CUSIP: 00287YCA5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   2405000 | PA      | $2108776.15   | 0.72%             | 2039-11-21      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                    | State of Connecticut                                                    | CUSIP: 20772KZR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $206114.60    | 0.07%             | 2035-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133KPQV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    241335 | PA      | $225159.12    | 0.08%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                   | Wells Fargo & Co                                                        | CUSIP: 95000U2Q5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3755000 | PA      | $2841821.55   | 0.97%             | 2041-04-30      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XNE2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    203486 | PA      | $196526.21    | 0.07%             | 2052-12-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWMB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    463012 | PA      | $471169.72    | 0.16%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                                  | GE HealthCare Technologies Inc                                          | CUSIP: 36266GAA5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1369953.00   | 0.47%             | 2029-08-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                  | PNC Financial Services Group Inc/The                                    | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1245000 | PA      | $1393030.50   | 0.47%             | 2034-10-20      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W2W7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    453505 | PA      | $414651.83    | 0.14%             | 2052-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XLF37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1135312 | PA      | $902675.31    | 0.31%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                            | Synopsys Inc                                                            | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253350.00    | 0.09%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWGG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    977943 | PA      | $962455.95    | 0.33%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority                                   | NEBRASKA ST INVESTMENT FIN AUTH SF HSG REVENUE                          | CUSIP: 63968XBX2<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |    285000 | PA      | $288323.96    | 0.10%             | 2033-03-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| State of California                                                     | State of California                                                     | CUSIP: 13063D3S5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1304265.29   | 0.44%             | 2038-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                           | Kentucky State Property & Building Commission                           | CUSIP: 49151FP79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $842031.98    | 0.29%             | 2031-09-01      | Fixed         | 2.22%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                                   | Micron Technology Inc                                                   | CUSIP: 595112CH4<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1412613.00   | 0.48%             | 2035-11-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                        | California Health Facilities Financing Authority                        | CUSIP: 13032UVG0<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    225000 | PA      | $211364.33    | 0.07%             | 2029-06-01      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418DYB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2938084 | PA      | $2342077.57   | 0.80%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Worcester MA                                                    | City of Worcester                                                       | CUSIP: 981305SA4<br>LEI: 5493006DO0NOILRNNH68 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1323500.80   | 0.45%             | 2028-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| State of California                                                     | State of California                                                     | CUSIP: 13063EHV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3505000 | PA      | $3573834.70   | 1.22%             | 2035-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                 | Dallas Fort Worth International Airport                                 | CUSIP: 23503CAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $243014.10    | 0.08%             | 2051-11-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Redondo Beach Community Financing Authority                             | Redondo Beach Community Financing Authority                             | CUSIP: 757696AW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $468171.38    | 0.16%             | 2030-05-01      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W5D6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    784839 | PA      | $717538.70    | 0.24%             | 2052-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132E0ZM7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    324563 | PA      | $338818.32    | 0.12%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                            | New York City Transitional Finance Authority                            | CUSIP: 64972JUV8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026449.00   | 0.35%             | 2040-05-01      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CMP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $5026855.45   | 1.71%             | 2027-02-28      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                       | UTAH HSG CORP SF MTGE REVENUE                                           | CUSIP: 917437UP8<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    270000 | PA      | $272485.35    | 0.09%             | 2031-01-01      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| University of Michigan                                                  | University of Michigan                                                  | CUSIP: 914455VJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $515219.38    | 0.18%             | 2047-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                 | South Carolina Public Service Authority                                 | CUSIP: 8371516W4<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    125000 | PA      | $126190.00    | 0.04%             | 2032-12-01      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XGF38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    531201 | PA      | $444430.90    | 0.15%             | 2051-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP                                                 | Simon Property Group LP                                                 | CUSIP: 828807DY0<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |   2155000 | PA      | $2099465.65   | 0.71%             | 2034-09-26      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWEH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    794303 | PA      | $716800.11    | 0.24%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                     | California State Public Works Board                                     | CUSIP: 13068XNV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $153010.50    | 0.05%             | 2030-04-01      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                 | South Carolina Public Service Authority                                 | CUSIP: 8371477D3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    920000 | PA      | $952901.04    | 0.32%             | 2030-01-01      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XTB2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    883970 | PA      | $853735.46    | 0.29%             | 2053-02-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179U6U1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    949593 | PA      | $843107.35    | 0.29%             | 2049-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                | Golden State Tobacco Securitization Corp.                               | CUSIP: 38122NC75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1769351.25   | 0.60%             | 2028-06-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWG98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    683741 | PA      | $685005.93    | 0.23%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign              | Burbank-Glendale-Pasadena Airport Authority Brick Campaign              | CUSIP: 120827CW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $229731.26    | 0.08%             | 2041-07-01      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp                | Harris County Cultural Education Facilities Finance Corp.               | CUSIP: 414008CQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $210439.90    | 0.07%             | 2027-11-15      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                    | District of Columbia                                                    | CUSIP: 25484JDK3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    510000 | PA      | $528013.20    | 0.18%             | 2035-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Los Angeles Community College District/CA                               | Los Angeles Community College District                                  | CUSIP: 54438CDT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1743914.40   | 0.59%             | 2029-08-01      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWEL3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    782118 | PA      | $770657.13    | 0.26%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kansas Development Finance Authority                                    | Kansas Development Finance Authority                                    | CUSIP: 485429Z72<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1053030.05   | 0.36%             | 2045-04-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133BXSM4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    438181 | PA      | $429952.11    | 0.15%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                            | New York City Transitional Finance Authority                            | CUSIP: 64972JUL0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1072184.63   | 0.36%             | 2031-05-01      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                 | Port Authority of New York & New Jersey                                 | CUSIP: 73358WCX0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    180000 | PA      | $188390.34    | 0.06%             | 2040-11-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FKP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    978080 | PA      | $994590.41    | 0.34%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133KPJ41<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    207832 | PA      | $193914.73    | 0.07%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV FIN                                                | Anheuser-Busch InBev Finance Inc                                        | CUSIP: 035242AN6<br>LEI: 5493000EYEKDT0FBSQ91 | Long             | DBT              | CORP              | US        |    965000 | PA      | $881025.70    | 0.30%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DTBS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1484672 | PA      | $1186937.03   | 0.40%             | 2052-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                    | Colorado Health Facilities Authority                                    | CUSIP: 19648FNV2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $901786.33    | 0.31%             | 2044-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWML4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    528941 | PA      | $537846.00    | 0.18%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| American Municipal Power Inc                                            | American Municipal Power, Inc.                                          | CUSIP: 02765UPG3<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |    300000 | PA      | $281706.90    | 0.10%             | 2030-02-15      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| City of Ogden City UT Sewer & Water Revenue                             | City of Ogden City Sewer & Water Revenue                                | CUSIP: 676313BA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $291588.85    | 0.10%             | 2027-06-15      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                 | South Carolina Public Service Authority                                 | CUSIP: 8371516T1<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    350000 | PA      | $353060.75    | 0.12%             | 2028-12-01      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Broomfield Urban Renewal Authority                                      | Broomfield Urban Renewal Authority                                      | CUSIP: 114778BH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $522699.25    | 0.18%             | 2030-12-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                | Public Finance Authority                                                | CUSIP: 74442PDX0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    300000 | PA      | $294167.10    | 0.10%             | 2027-07-01      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                | New Hampshire Business Finance Authority                                | CUSIP: 63607YCY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2073682.00   | 0.71%             | 2035-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                     | Idaho Housing & Finance Association                                     | CUSIP: 45129Y7L4<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    415000 | PA      | $414443.90    | 0.14%             | 2033-01-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 31329MJ84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    282063 | PA      | $271749.22    | 0.09%             | 2031-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                 | Goldman Sachs Group Inc/The                                             | CUSIP: 38141GXG4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3025000 | PA      | $2796884.75   | 0.95%             | 2030-02-07      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                  | Illinois Housing Development Authority                                  | CUSIP: 45203ML74<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $507934.50    | 0.17%             | 2031-10-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| County of Pima AZ                                                       | County of Pima                                                          | CUSIP: 72178JAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $172196.12    | 0.06%             | 2031-05-01      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp                                           | Sales Tax Securitization Corp.                                          | CUSIP: 79467BAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $982298.73    | 0.33%             | 2029-01-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662ED6<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    400000 | PA      | $403407.20    | 0.14%             | 2030-10-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XHY5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1064857 | PA      | $1029222.83   | 0.35%             | 2052-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XJ4T7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    635334 | PA      | $510888.45    | 0.17%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| State Street Institutional US Government Money Market Fund              | State Street Institutional US Government Money Market Fund              | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   3674524 | NS      | $3674523.66   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWNJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1231994 | PA      | $1233225.30   | 0.42%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                                     | American Express Co                                                     | CUSIP: 025816DP1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   2715000 | PA      | $2747417.10   | 0.93%             | 2028-02-16      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                               | Indiana Finance Authority                                               | CUSIP: 45506EFH1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $802038.00    | 0.27%             | 2052-03-01      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | State of Illinois                                                       | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1444069 | PA      | $1449202.20   | 0.49%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                 | South Carolina Public Service Authority                                 | CUSIP: 837151FV6<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1069099.19   | 0.36%             | 2030-12-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VN48<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1049012 | PA      | $967016.18    | 0.33%             | 2050-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                       | Indiana Housing & Community Development Authority                       | CUSIP: 45505WAH7<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |    200000 | PA      | $201880.00    | 0.07%             | 2031-01-01      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| City of Watertown WI                                                    | City of Watertown                                                       | CUSIP: 942214ZC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $279293.49    | 0.09%             | 2027-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W7J1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    885793 | PA      | $753369.18    | 0.26%             | 2052-06-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DUUA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1916763 | PA      | $1661362.98   | 0.57%             | 2052-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70869PMT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $932594.85    | 0.32%             | 2028-06-15      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FINGAUTH GOVTL LEASE REVENUE                   | CUSIP: 70869HBB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1855000 | PA      | $1747619.62   | 0.59%             | 2029-03-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Allegheny County Airport Authority                                      | Allegheny County Airport Authority                                      | CUSIP: 01728LJS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $151675.95    | 0.05%             | 2030-01-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                    | Bank of America Corp                                                    | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1388135.20   | 0.47%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| New Jersey Educational Facilities Authority                             | New Jersey Educational Facilities Authority                             | CUSIP: 6460662H2<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    475000 | PA      | $466854.70    | 0.16%             | 2027-09-01      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XLJ33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    677519 | PA      | $639181.00    | 0.22%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Glendale AZ                                                     | City of Glendale                                                        | CUSIP: 37828AAP4<br>LEI: 5493002BC35ZY7XRQ949 | Long             | DBT              | MUN               | US        |    750000 | PA      | $604502.25    | 0.21%             | 2037-07-01      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                                                          | Amazon.com Inc                                                          | CUSIP: 023135BJ4<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   3375000 | PA      | $2794196.25   | 0.95%             | 2047-08-22      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                                                    | Freeport-McMoRan Inc                                                    | CUSIP: 35671DBC8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   2945000 | PA      | $2790858.70   | 0.95%             | 2043-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CMV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1685000 | PA      | $1687929.00   | 0.57%             | 2027-03-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179UGC0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    354326 | PA      | $335842.07    | 0.11%             | 2048-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWER0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1695142 | PA      | $1580783.62   | 0.54%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | City of New York                                                        | CUSIP: 64966Q7W4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    310000 | PA      | $327009.39    | 0.11%             | 2038-10-01      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FBQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    259198 | PA      | $267599.69    | 0.09%             | 2054-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                 | Port Authority of New York & New Jersey                                 | CUSIP: 73358W3L6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    290000 | PA      | $186078.21    | 0.06%             | 2069-08-01      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                                  | UnitedHealth Group Inc                                                  | CUSIP: 91324PER9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1391040.00   | 0.47%             | 2033-02-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XRY66<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    326486 | PA      | $296486.20    | 0.10%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WXJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    343605 | PA      | $292265.26    | 0.10%             | 2052-02-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XMTB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    806341 | PA      | $701691.48    | 0.24%             | 2052-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                              | Fiserv Inc                                                              | CUSIP: 337738AU2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1377919.40   | 0.47%             | 2029-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| County of Riverside CA                                                  | RIVERSIDE CNTY CA PENSN OBLG                                            | CUSIP: 76913CAT6<br>LEI: 254900CB5HEOBAVTY629 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3029136.00   | 1.03%             | 2035-02-15      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132D6AY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    420718 | PA      | $384999.52    | 0.13%             | 2036-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XLD62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    310508 | PA      | $260172.66    | 0.09%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179YYT5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    124677 | PA      | $116302.61    | 0.04%             | 2054-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California State University                                             | California State University                                             | CUSIP: 13077DKU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $663652.00    | 0.23%             | 2051-11-01      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                        | Minnesota Housing Finance Agency                                        | CUSIP: 60416UPV1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503581.00    | 0.17%             | 2032-01-01      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EAS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    598633 | PA      | $547532.98    | 0.19%             | 2037-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Asheville NC                                                    | ASHEVILLE NC LIMITED OBLIG                                              | CUSIP: 044037DF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $563864.95    | 0.19%             | 2033-04-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XLH68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    496214 | PA      | $447873.05    | 0.15%             | 2052-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XPBW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2752399 | PA      | $2707013.52   | 0.92%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                              | CUSIP: 70869PRG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $448569.88    | 0.15%             | 2034-06-01      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70869PRB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $152764.35    | 0.05%             | 2029-06-01      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | Commonwealth Financing Authority                                        | CUSIP: 20281PKW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $489122.70    | 0.17%             | 2041-06-01      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Combined Utility System Revenue                      | City of Houston Combined Utility System Revenue                         | CUSIP: 44244CXU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $187111.50    | 0.06%             | 2030-11-15      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | Pennsylvania Economic Development Financing Authority                   | CUSIP: 70869PRD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $214124.82    | 0.07%             | 2031-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DV5R2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1052187 | PA      | $922586.70    | 0.31%             | 2050-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WXK9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    756121 | PA      | $669259.43    | 0.23%             | 2052-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CMN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $2027343.76   | 0.69%             | 2028-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                              | US Bancorp                                                              | CUSIP: 91159HHN3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    485000 | PA      | $476163.30    | 0.16%             | 2026-07-22      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                            | New York City Transitional Finance Authority                            | CUSIP: 64972JUN6<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030467.00   | 0.35%             | 2033-05-01      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                   | Connecticut Housing Finance Authority                                   | CUSIP: 20775H7K3<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    210000 | PA      | $211665.93    | 0.07%             | 2031-11-15      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132D6A59<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1310517 | PA      | $1199052.73   | 0.41%             | 2036-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                       | Utah Housing Corp.                                                      | CUSIP: 917437TM7<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    360000 | PA      | $356367.60    | 0.12%             | 2034-01-01      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                     | JPMorgan Chase & Co                                                     | CUSIP: 46647PCD6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2790000 | PA      | $2110495.50   | 0.72%             | 2042-04-22      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                | Golden State Tobacco Securitization Corp.                               | CUSIP: 38122NC83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1003898.42   | 0.34%             | 2029-06-01      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                    | State of Connecticut                                                    | CUSIP: 20772KZL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255218.50    | 0.09%             | 2030-03-15      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                   | Wells Fargo & Co                                                        | CUSIP: 95000U2D4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1385871.70   | 0.47%             | 2029-01-24      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                           | Citigroup Inc                                                           | CUSIP: 172967PF2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2705000 | PA      | $2760236.10   | 0.94%             | 2030-02-13      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| State Board of Administration Finance Corp                              | State Board of Administration Finance Corp.                             | CUSIP: 341271AH7<br>LEI: 549300S34SOJ0RULXM35 | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1126416.65   | 0.38%             | 2034-07-01      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| County of Harris TX Hotel Occupancy Tax Revenue                         | County of Harris Hotel Occupancy Tax Revenue                            | CUSIP: 414157BM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $722775.48    | 0.25%             | 2037-08-15      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                   | Connecticut Housing Finance Authority                                   | CUSIP: 20775H7J6<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    205000 | PA      | $206923.72    | 0.07%             | 2031-05-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XMUS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3583323 | PA      | $2858235.66   | 0.97%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| City of Chula Vista CA                                                  | City of Chula Vista                                                     | CUSIP: 17131RAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1439933.60   | 0.49%             | 2031-06-01      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| City of Oakland CA                                                      | City of Oakland                                                         | CUSIP: 672240YY8<br>LEI: 549300BRTTFKDQCGL048 | Long             | DBT              | MUN               | US        |    195000 | PA      | $204510.15    | 0.07%             | 2031-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                    | State of Connecticut                                                    | CUSIP: 20772GF45<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    440000 | PA      | $471643.92    | 0.16%             | 2032-03-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA                                                 | PHILADELPHIA PA                                                         | CUSIP: 717813E39<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    800000 | PA      | $817470.40    | 0.28%             | 2032-08-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WY93<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2292833 | PA      | $1950060.06   | 0.66%             | 2052-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179Y2L7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    214462 | PA      | $214946.00    | 0.07%             | 2054-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWPS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1283188 | PA      | $1283898.97   | 0.44%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                | AT&T Inc                                                                | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   3245000 | PA      | $2794950.95   | 0.95%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                | Golden State Tobacco Securitization Corp.                               | CUSIP: 38122NC67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    885000 | PA      | $848586.68    | 0.29%             | 2027-06-01      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XQT6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    232477 | PA      | $212488.00    | 0.07%             | 2053-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                             | Oracle Corp                                                             | CUSIP: 68389XBQ7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1845000 | PA      | $1415078.10   | 0.48%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Franklin OH                                                   | County of Franklin                                                      | CUSIP: 353187EK9<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    545000 | PA      | $379948.93    | 0.13%             | 2050-11-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                            | New York City Transitional Finance Authority                            | CUSIP: 64972JQY7<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    260000 | PA      | $264069.78    | 0.09%             | 2027-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3133KR5L4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1830584 | PA      | $1883707.88   | 0.64%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EKS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    737105 | PA      | $687150.26    | 0.23%             | 2052-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XPK40<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    481935 | PA      | $443039.02    | 0.15%             | 2037-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                          | Morgan Stanley                                                          | CUSIP: 61747YFA8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2748654.00   | 0.93%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWDQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    506322 | PA      | $401331.96    | 0.14%             | 2052-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VFN5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    655272 | PA      | $558528.60    | 0.19%             | 2050-02-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                        | New York State Thruway Authority                                        | CUSIP: 650009S61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $238872.13    | 0.08%             | 2042-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                                | RTX Corp                                                                | CUSIP: 75513ECX7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   2550000 | PA      | $2798115.00   | 0.95%             | 2054-03-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| QUALCOMM Inc                                                            | QUALCOMM Inc                                                            | CUSIP: 747525AK9<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |   2310000 | PA      | $2109122.40   | 0.72%             | 2045-05-20      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | Philadelphia Authority for Industrial Development                       | CUSIP: 71781LBH1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1859826.84   | 0.63%             | 2028-10-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179Y5L4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1173635 | PA      | $1176282.31   | 0.40%             | 2054-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XFE1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    315308 | PA      | $279011.25    | 0.09%             | 2052-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DPQE1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    687806 | PA      | $620693.96    | 0.21%             | 2052-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CMS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13710000 | PA      | $13777478.97  | 4.69%             | 2028-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FLT2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    988655 | PA      | $1021171.16   | 0.35%             | 2055-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179XX35<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    239463 | PA      | $224862.24    | 0.08%             | 2053-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                        | T-Mobile USA Inc                                                        | CUSIP: 87264AAZ8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   3390000 | PA      | $2804750.40   | 0.95%             | 2050-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| California State University                                             | California State University                                             | CUSIP: 13077DFM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $567320.04    | 0.19%             | 2030-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VQS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    573188 | PA      | $487610.24    | 0.17%             | 2050-07-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp                                           | Sales Tax Securitization Corp.                                          | CUSIP: 79467BJL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $696853.57    | 0.24%             | 2039-01-01      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                                 | MIAMI-DADE CNTY FL SEAPORT REVENUE                                      | CUSIP: 59335KCS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2229575.00   | 0.76%             | 2030-10-01      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132CXDU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    346035 | PA      | $323647.40    | 0.11%             | 2037-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| JobsOhio Beverage System                                                | JobsOhio Beverage System                                                | CUSIP: 47770VAZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $550240.32    | 0.19%             | 2035-01-01      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                  | Iowa Finance Authority                                                  | CUSIP: 46247EHB4<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100755.80    | 0.03%             | 2031-01-01      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| State of Hawaii                                                         | State of Hawaii                                                         | CUSIP: 419792R32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $204136.54    | 0.07%             | 2041-10-01      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| City of Asheville NC                                                    | ASHEVILLE NC LIMITED OBLIG                                              | CUSIP: 044037DJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $643054.38    | 0.22%             | 2036-04-01      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662EF1<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    400000 | PA      | $403673.20    | 0.14%             | 2032-10-01      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| City of Glendale AZ                                                     | City of Glendale                                                        | CUSIP: 37828AAH2<br>LEI: 5493002BC35ZY7XRQ949 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $887362.00    | 0.30%             | 2031-07-01      | Fixed         | 2.32%                 | No            |                  2 | On Loan: No      |
| Toledo Lucas County Public Library                                      | Toledo Lucas County Public Library                                      | CUSIP: 88928DAT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496780.50    | 0.17%             | 2038-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Kansas Development Finance Authority                                    | Kansas Development Finance Authority                                    | CUSIP: 48542RSL9<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |    215000 | PA      | $200453.53    | 0.07%             | 2028-05-01      | Fixed         | 1.52%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax Revenue                                 | District of Columbia Income Tax Revenue                                 | CUSIP: 25477GXP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500688.00    | 0.17%             | 2040-06-01      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| Montgomery County Housing Opportunities Commission                      | Montgomery County Housing Opportunities Commission                      | CUSIP: 61335AAN5<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    500000 | PA      | $497708.50    | 0.17%             | 2037-12-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Southwestern Illinois Development Authority                             | Southwestern Illinois Development Authority                             | CUSIP: 84552YSV4<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |    400000 | PA      | $407184.80    | 0.14%             | 2031-04-01      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                         | CVS Health Corp                                                         | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2790000 | PA      | $2779398.00   | 0.95%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| City of Trussville AL                                                   | City of Trussville                                                      | CUSIP: 898242NX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $207090.18    | 0.07%             | 2027-10-01      | Fixed         | 1.26%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                         | State of Oregon                                                         | CUSIP: 68607LXQ5<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    419440 | PA      | $429225.79    | 0.15%             | 2027-06-01      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FBP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    870327 | PA      | $885661.65    | 0.30%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                  | New York City Housing Development Corp.                                 | CUSIP: 64972EQQ5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    235000 | PA      | $212919.17    | 0.07%             | 2030-05-01      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| Montgomery County Housing Opportunities Commission                      | Montgomery County Housing Opportunities Commission                      | CUSIP: 61335AAE5<br>LEI: 549300HDL0LLRHMDL092 | Long             | DBT              | MUN               | US        |    250000 | PA      | $252613.75    | 0.09%             | 2029-12-01      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418ELY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    873392 | PA      | $878319.57    | 0.30%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp                                            | Florida Housing Finance Corp.                                           | CUSIP: 34074NBW8<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101264.20    | 0.03%             | 2033-07-01      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179UH54<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    377800 | PA      | $369112.18    | 0.13%             | 2048-12-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Toledo Lucas County Public Library                                      | Toledo Lucas County Public Library                                      | CUSIP: 88928DAH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $401317.20    | 0.14%             | 2028-12-01      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662EG9<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    415000 | PA      | $419432.62    | 0.14%             | 2033-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W5E4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     79025 | PA      | $74164.85     | 0.03%             | 2052-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DUL96<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    240271 | PA      | $216670.99    | 0.07%             | 2054-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                        | MINNESOTA ST HSG FIN AGY                                                | CUSIP: 60416UUM5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    835000 | PA      | $843571.28    | 0.29%             | 2031-01-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| TARGET CORP                                                             | Target Corp                                                             | CUSIP: 87612EBT2<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1359959.20   | 0.46%             | 2035-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179Y5N0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    213208 | PA      | $218774.91    | 0.07%             | 2054-08-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Maine Health & Higher Educational Facilities Authority                  | Maine Health & Higher Educational Facilities Authority                  | CUSIP: 56042RJ78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $277255.80    | 0.09%             | 2028-07-01      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp                            | Rhode Island Housing & Mortgage Finance Corp.                           | CUSIP: 76221SJD4<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506381.00    | 0.17%             | 2033-10-01      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| Oregon State Lottery                                                    | Oregon State Lottery                                                    | CUSIP: 68607V7G4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510484.50    | 0.17%             | 2038-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Bonds                                                     | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4200000 | PA      | $4177359.40   | 1.42%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3115000 | PA      | $3144811.52   | 1.07%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                     | CommonSpirit Health                                                     | CUSIP: 14916RAD6<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |   3385000 | PA      | $2842486.05   | 0.97%             | 2042-11-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6110000 | PA      | $6139118.00   | 2.09%             | 2027-01-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | Commonwealth Financing Authority                                        | CUSIP: 20281PKG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $37012.76     | 0.01%             | 2038-06-01      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XKES5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1023827 | PA      | $818509.01    | 0.28%             | 2051-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XK4N7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    827441 | PA      | $776318.43    | 0.26%             | 2036-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWMK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2317095 | PA      | $2318332.46   | 0.79%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                 | Dallas Fort Worth International Airport                                 | CUSIP: 2350366Q8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $228671.00    | 0.08%             | 2028-11-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 3622ADTQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    493323 | PA      | $498231.40    | 0.17%             | 2055-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418D7F3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    790079 | PA      | $658186.06    | 0.22%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132CW3X0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    482218 | PA      | $452796.19    | 0.15%             | 2037-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| City of Kansas City MO                                                  | City of Kansas City                                                     | CUSIP: 485106P36<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |   2140000 | PA      | $2172699.20   | 0.74%             | 2039-04-01      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                              | US Bancorp                                                              | CUSIP: 91159HJA9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   3240000 | PA      | $2803507.20   | 0.95%             | 2030-07-22      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| City of Cleveland OH Income Tax Revenue                                 | CLEVELAND OH INCOME TAX REVENUE                                         | CUSIP: 186387XZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1189315.55   | 0.40%             | 2035-10-01      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| Nebraska Investment Finance Authority                                   | NEBRASKA ST INVESTMENT FIN AUTH SF HSG REVENUE                          | CUSIP: 63968XBZ7<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |   1630000 | PA      | $1649097.08   | 0.56%             | 2034-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                               | New Jersey Economic Development Authority                               | CUSIP: 64577B8K3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    595000 | PA      | $558322.42    | 0.19%             | 2033-06-15      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                               | Boeing Co/The                                                           | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2920000 | PA      | $2803550.40   | 0.95%             | 2050-05-01      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWNG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    498381 | PA      | $488786.96    | 0.17%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                        | MINNESOTA ST HSG FIN AGY                                                | CUSIP: 60416UUJ2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    770000 | PA      | $776144.60    | 0.26%             | 2029-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWE74<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    306700 | PA      | $302085.06    | 0.10%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax Revenue                                 | DIST OF COLUMBIA INCOME TAX SECURED REVENUE                             | CUSIP: 25477GXQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2470000 | PA      | $2495008.75   | 0.85%             | 2045-06-01      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XGV89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    436301 | PA      | $381520.37    | 0.13%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | Commonwealth Financing Authority                                        | CUSIP: 20281PKT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $476373.04    | 0.16%             | 2038-06-01      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | State of Illinois                                                       | CUSIP: 452153LG2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    205000 | PA      | $201300.78    | 0.07%             | 2032-10-01      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL                                                 | County of Miami-Dade                                                    | CUSIP: 59333HBK1<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |    150000 | PA      | $165646.05    | 0.06%             | 2029-10-01      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| State Board of Administration Finance Corp                              | State Board of Administration Finance Corp.                             | CUSIP: 341271AE4<br>LEI: 549300S34SOJ0RULXM35 | Long             | DBT              | MUN               | US        |    757000 | PA      | $721231.75    | 0.25%             | 2027-07-01      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL                                                     | LAKELAND FL CAPITAL IMPT REVENUE                                        | CUSIP: 511662EB0<br>LEI: XRPK4ZALF4437WO3JQ94 | Long             | DBT              | MUN               | US        |    400000 | PA      | $402005.60    | 0.14%             | 2028-10-01      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                               | New Jersey Economic Development Authority                               | CUSIP: 645913AA2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2103000 | PA      | $2222107.61   | 0.76%             | 2029-02-15      | Fixed         | 7.43%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418FGZ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1231388 | PA      | $1252516.20   | 0.43%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                       | UTAH HSG CORP SF MTGE REVENUE                                           | CUSIP: 917437UT0<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    825000 | PA      | $836188.65    | 0.28%             | 2033-01-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 31418EDE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    402517 | PA      | $362865.05    | 0.12%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                  | Illinois Housing Development Authority                                  | CUSIP: 45203MM32<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513540.50    | 0.17%             | 2033-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179VFR6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    527773 | PA      | $498772.26    | 0.17%             | 2050-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWDC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1371459 | PA      | $1088743.36   | 0.37%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Bonds                                                     | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $973906.25    | 0.33%             | 2055-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971XEB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $206435.25    | 0.07%             | 2030-05-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179W7M4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    673714 | PA      | $632282.89    | 0.22%             | 2052-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                | Ginnie Mae II Pool                                                      | CUSIP: 36179WVU9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    386905 | PA      | $329125.17    | 0.11%             | 2052-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DS5D0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    483202 | PA      | $402987.07    | 0.14%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT                    | CUSIP: 64985SFF5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1524069.00   | 0.52%             | 2045-07-01      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                              | MICHIGAN ST FIN AUTH REVENUE                                            | CUSIP: 59447TXB4<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    535000 | PA      | $523849.53    | 0.18%             | 2049-09-01      | Floating      | 2.67%                 | No            |                  2 | On Loan: No      |
| Rutgers The State University of New Jersey                              | Rutgers The State University of New Jersey                              | CUSIP: 783186UJ6<br>LEI: 549300BOYDHNW8J60112 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $908443.65    | 0.31%             | 2043-05-01      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                              | Fannie Mae Pool                                                         | CUSIP: 3140XJJ61<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    453792 | PA      | $423680.31    | 0.14%             | 2037-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132CW5W0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    883171 | PA      | $827662.87    | 0.28%             | 2037-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                             | Freddie Mac Pool                                                        | CUSIP: 3132DWCC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3341182 | PA      | $2786523.49   | 0.95%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                  | U.S. Treasury Notes                                                     | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3600000 | PA      | $3615046.88   | 1.23%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| McKinney Economic Development Corp Sales Tax Revenue                    | McKinney Economic Development Corp. Sales Tax Revenue                   | CUSIP: 581655CW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205974.20    | 0.07%             | 2033-09-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Vermont Housing Finance Agency                                          | VERMONT ST HSG FIN AGY                                                  | CUSIP: 924190N49<br>LEI: 549300RD7EYN90K0W008 | Long             | DBT              | MUN               | US        |    230000 | PA      | $234181.40    | 0.08%             | 2033-11-01      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| Pennsylvania State University/The                                       | PENNSYLVANIA ST UNIV                                                    | CUSIP: 7092354T9<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |    350000 | PA      | $355486.95    | 0.12%             | 2036-09-01      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** SCHWAB STRATEGIC TRUST

**Signature:** Dana Smith

**Name of Signer:** Dana Smith

**Title:** CFO