# EDGAR Filing Document

**Accession Number:** 0000920547
**File Stem:** 0001193125-25-295456
**Filing Date:** 2025-11
**Character Count:** 220975
**Document Hash:** c6e0c00e81672b3f3caaa029ae37f215
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-295456.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001193125-25-295456

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOUCHSTONE VARIABLE SERIES TRUST
- **CENTRAL INDEX KEY:** 0000920547

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08416
- **FILM NUMBER:** 251516114

**BUSINESS ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202-4203
- **BUSINESS PHONE:** 513-362-8000

**MAIL ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202-4203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SELECT ADVISORS VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 19950912

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IFS VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 19940318

## Series and Classes Contracts Data

### Touchstone Balanced Fund (Series ID: S000059066)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000193689 | Touchstone Balanced Fund - Class I |  |
| C000226678 | Class SC                           |  |

## Nport-Ex

Portfolio of Investments

Touchstone Balanced Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 65.6%** |  |
|  | &nbsp;&nbsp;**Information Technology — 22.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9507 | &nbsp;&nbsp;Apple, Inc. | $2420767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952 | &nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp; 399653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6042 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 3129454 |
| &nbsp;&nbsp;&nbsp;&nbsp;10250 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 1912445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3925 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 1103867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2427 | &nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp; 575199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | &nbsp;&nbsp; 697387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2584 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 474758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;Workday, Inc. - Class A\* | &nbsp;&nbsp; 382039 |
|  |  | &nbsp;&nbsp;11095569 |
|  | &nbsp;&nbsp;**Communication Services — 11.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9520 | &nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp; 2318596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9684 | &nbsp;&nbsp;Comcast Corp. - Class A | &nbsp;&nbsp; 304271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3129 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 2297875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 239784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504 | &nbsp;&nbsp;Walt Disney Co. (The) | &nbsp;&nbsp; 286708 |
|  |  | &nbsp;&nbsp; 5447234 |
|  | &nbsp;&nbsp;**Financials — 9.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;16452 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 848759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B\* | &nbsp;&nbsp; 497713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7025 | &nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp; 670677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 795554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821 | &nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp; 273138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;Markel Group, Inc.\* | &nbsp;&nbsp; 607812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 867446 |
|  |  | &nbsp;&nbsp; 4561099 |
|  | &nbsp;&nbsp;**Health Care — 6.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2566 | &nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp; 480278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;BioMarin Pharmaceutical, Inc.\* | &nbsp;&nbsp; 162480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7348 | &nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp; 331395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959 | &nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp; 408726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3530 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 654533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6880 | &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp; 655251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304 | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 450271 |
|  |  | &nbsp;&nbsp; 3142934 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 5.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3824 | &nbsp;&nbsp;Airbnb, Inc. - Class A\* | &nbsp;&nbsp; 464310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8010 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 1758756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3528 | &nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp; 189771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2371 | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp; 200587 |
|  |  | &nbsp;&nbsp; 2613424 |
|  | &nbsp;&nbsp;**Industrials — 5.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051 | &nbsp;&nbsp;Boeing Co. (The)\* | &nbsp;&nbsp; 658498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp; 299505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691 | &nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp; 297344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp; 338341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5282 | &nbsp;&nbsp;SS&C Technologies Holdings, Inc. | &nbsp;&nbsp; 468830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3096 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 230126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3060 | &nbsp;&nbsp;Uber Technologies, Inc.\* | &nbsp;&nbsp; 299788 |
|  |  | &nbsp;&nbsp; 2592432 |
|  | &nbsp;&nbsp;**Consumer Staples — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646 | &nbsp;&nbsp;Diageo PLC (United Kingdom) ADR | &nbsp;&nbsp; 157078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5070 | &nbsp;&nbsp;Monster Beverage Corp.\* | &nbsp;&nbsp; 341262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4287 | &nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp; 695351 |
|  |  | &nbsp;&nbsp; 1193691 |
|  | &nbsp;&nbsp;**Energy — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5663 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 638503 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 65.6% (Continued)** |  |
|  | &nbsp;&nbsp;**Real Estate — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509 | &nbsp;&nbsp;Jones Lang LaSalle, Inc.\* | $450105 |
|  | &nbsp;&nbsp;**Materials — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3213 | &nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 197728 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $31932719 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  |  |
|  | &nbsp;&nbsp;**Corporate Bonds — 17.3%** |  |
|  | &nbsp;&nbsp;**Financials — 4.4%** |  |
| $85000 | &nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 3.000%, 10/29/28 | &nbsp;&nbsp; 81928 |
| &nbsp;&nbsp; 93000 | &nbsp;&nbsp;American Express Co., 5.282%, 7/27/29 | &nbsp;&nbsp; 95941 |
| &nbsp;&nbsp; 61000 | &nbsp;&nbsp;Bank of America Corp., 2.687%, 4/22/32 | &nbsp;&nbsp; 55587 |
| &nbsp;&nbsp; 67000 | &nbsp;&nbsp;Bank of America Corp., 3.705%, 4/24/28 | &nbsp;&nbsp; 66569 |
| &nbsp;&nbsp; 30000 | &nbsp;&nbsp;Bank of America Corp., 5.511%, 1/24/36 | &nbsp;&nbsp; 31356 |
| &nbsp;&nbsp; 77000 | &nbsp;&nbsp;Bank of Montreal (Canada), 3.803%, 12/15/32 | &nbsp;&nbsp; 75642 |
| &nbsp;&nbsp; 65000 | &nbsp;&nbsp;Bank of New York Mellon Corp. (The), 5.834%, 10/25/33 | &nbsp;&nbsp; 70024 |
| &nbsp;&nbsp; 57000 | &nbsp;&nbsp;Berkshire Hathaway Finance Corp., 4.250%, 1/15/49 | &nbsp;&nbsp; 48863 |
| &nbsp;&nbsp; 106000 | &nbsp;&nbsp;Citigroup, Inc., 4.542%, 9/19/30 | &nbsp;&nbsp; 106502 |
| &nbsp;&nbsp; 49000 | &nbsp;&nbsp;Citigroup, Inc., 6.174%, 5/25/34 | &nbsp;&nbsp; 52130 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;First Maryland Capital I, (TSFR3M + 1.262%), 5.579%, 1/15/27<sup>(A)</sup> | &nbsp;&nbsp; 51486 |
| &nbsp;&nbsp; 100000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 2.615%, 4/22/32 | &nbsp;&nbsp; 90735 |
| &nbsp;&nbsp; 45000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 3.691%, 6/5/28 | &nbsp;&nbsp; 44684 |
| &nbsp;&nbsp; 64000 | &nbsp;&nbsp;Guardian Life Global Funding, 144a, 4.327%, 10/6/30 | &nbsp;&nbsp; 64047 |
| &nbsp;&nbsp; 104000 | &nbsp;&nbsp;JPMorgan Chase & Co., 2.956%, 5/13/31 | &nbsp;&nbsp; 97574 |
| &nbsp;&nbsp; 82000 | &nbsp;&nbsp;JPMorgan Chase & Co., 3.509%, 1/23/29 | &nbsp;&nbsp; 80929 |
| &nbsp;&nbsp; 70000 | &nbsp;&nbsp;Macquarie Airfinance Holdings Ltd. (United Kingdom), 144a, 6.400%, 3/26/29 | &nbsp;&nbsp; 73617 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;Marsh & McLennan Cos., Inc., 5.350%, 11/15/44 | &nbsp;&nbsp; 51539 |
| &nbsp;&nbsp; 91000 | &nbsp;&nbsp;Mastercard, Inc., 2.000%, 11/18/31 | &nbsp;&nbsp; 80364 |
| &nbsp;&nbsp; 63000 | &nbsp;&nbsp;Morgan Stanley, 2.484%, 9/16/36 | &nbsp;&nbsp; 54753 |
| &nbsp;&nbsp; 89000 | &nbsp;&nbsp;Morgan Stanley, 3.950%, 4/23/27 | &nbsp;&nbsp; 88834 |
| &nbsp;&nbsp; 61000 | &nbsp;&nbsp;New York Life Global Funding, 144a, 4.550%, 1/28/33 | &nbsp;&nbsp; 60912 |
| &nbsp;&nbsp; 93000 | &nbsp;&nbsp;Northwestern Mutual Life Insurance Co. (The), 144a, 3.850%, 9/30/47 | &nbsp;&nbsp; 72178 |
| &nbsp;&nbsp; 85000 | &nbsp;&nbsp;PNC Capital Trust, (TSFR3M + 0.832%), 5.003%, 6/1/28<sup>(A)</sup> | &nbsp;&nbsp; 83946 |
| &nbsp;&nbsp; 80000 | &nbsp;&nbsp;Royal Bank of Canada (Canada), 4.969%, 8/2/30 | &nbsp;&nbsp; 81869 |
| &nbsp;&nbsp; 110000 | &nbsp;&nbsp;State Street Corp., (TSFR3M + 1.262%), 5.299%, 6/15/47<sup>(A)</sup> | &nbsp;&nbsp; 99539 |
| &nbsp;&nbsp; 117000 | &nbsp;&nbsp;Teachers Insurance & Annuity Association of America, 144a, 3.300%, 5/15/50 | &nbsp;&nbsp; 80591 |
| &nbsp;&nbsp; 151000 | &nbsp;&nbsp;Truist Financial Corp., Ser A, (TSFR3M + 0.932%), 5.143%, 5/15/27<sup>(A)</sup> | &nbsp;&nbsp; 149874 |
| &nbsp;&nbsp; 56000 | &nbsp;&nbsp;US Bancorp, 4.967%, 7/22/33 | &nbsp;&nbsp; 56229 |
|  |  | &nbsp;&nbsp; 2148242 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.0%** |  |
| &nbsp;&nbsp; 125000 | &nbsp;&nbsp;7-Eleven, Inc., 144a, 1.800%, 2/10/31 | &nbsp;&nbsp; 108692 |
| &nbsp;&nbsp; 74000 | &nbsp;&nbsp;BMW US Capital LLC (Germany), 144a, 4.500%, 8/11/30 | &nbsp;&nbsp; 74143 |
| &nbsp;&nbsp; 70000 | &nbsp;&nbsp;Delta Air Lines, Inc. / SkyMiles IP Ltd., 144a, 4.750%, 10/20/28 | &nbsp;&nbsp; 70396 |
| &nbsp;&nbsp; 54000 | &nbsp;&nbsp;Ferguson Enterprises, Inc., 4.350%, 3/15/31 | &nbsp;&nbsp; 53653 |
| &nbsp;&nbsp; 131000 | &nbsp;&nbsp;General Motors Financial Co., Inc., 3.100%, 1/12/32 | &nbsp;&nbsp; 118021 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 4.700%, 10/7/30 | &nbsp;&nbsp; 19975 |
| &nbsp;&nbsp; 42000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 5.400%, 10/7/35 | &nbsp;&nbsp; 42007 |
| &nbsp;&nbsp; 48000 | &nbsp;&nbsp;Home Depot, Inc. (The), 5.950%, 4/1/41 | &nbsp;&nbsp; 51737 |
| &nbsp;&nbsp; 69000 | &nbsp;&nbsp;Hyundai Capital America, 144a, 5.350%, 3/19/29 | &nbsp;&nbsp; 70880 |
| &nbsp;&nbsp; 92000 | &nbsp;&nbsp;Lowe's Cos., Inc., 4.500%, 4/15/30 | &nbsp;&nbsp; 93198 |
| &nbsp;&nbsp; 62000 | &nbsp;&nbsp;Mattel, Inc., 5.450%, 11/1/41 | &nbsp;&nbsp; 57078 |
| &nbsp;&nbsp; 92000 | &nbsp;&nbsp;Meritage Homes Corp., 144a, 3.875%, 4/15/29 | &nbsp;&nbsp; 89586 |

---

------

Touchstone Balanced Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Corporate Bonds — 17.3% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.0% (Continued)** |  |
| $49000 | &nbsp;&nbsp;Toyota Motor Credit Corp., MTN, 4.650%, 1/5/29<sup>†</sup> | $49906 |
| &nbsp;&nbsp; 76000 | &nbsp;&nbsp;United Airlines, Inc., 144a, 4.625%, 4/15/29 | &nbsp;&nbsp; 74846 |
|  |  | &nbsp;&nbsp; 974118 |
|  | &nbsp;&nbsp;**Industrials — 1.9%** |  |
| &nbsp;&nbsp; 82000 | &nbsp;&nbsp;Amcor Flexibles North America, Inc., 2.630%, 6/19/30 | &nbsp;&nbsp; 75667 |
| &nbsp;&nbsp; 68000 | &nbsp;&nbsp;Burlington Northern Santa Fe LLC, 5.750%, 5/1/40 | &nbsp;&nbsp; 71926 |
| &nbsp;&nbsp; 80000 | &nbsp;&nbsp;Canadian Pacific Railway Co. (Canada), 3.000%, 12/2/41 | &nbsp;&nbsp; 59948 |
| &nbsp;&nbsp; 78000 | &nbsp;&nbsp;Element Fleet Management Corp. (Canada), 144a, 5.037%, 3/25/30 | &nbsp;&nbsp; 79586 |
| &nbsp;&nbsp; 72000 | &nbsp;&nbsp;John Deere Capital Corp., MTN, 5.100%, 4/11/34 | &nbsp;&nbsp; 74503 |
| &nbsp;&nbsp; 54000 | &nbsp;&nbsp;Keysight Technologies, Inc., 4.950%, 10/15/34 | &nbsp;&nbsp; 54326 |
| &nbsp;&nbsp; 66000 | &nbsp;&nbsp;Norfolk Southern Corp., 4.837%, 10/1/41 | &nbsp;&nbsp; 62796 |
| &nbsp;&nbsp; 44000 | &nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 5.350%, 1/12/27 | &nbsp;&nbsp; 44538 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;RTX Corp., 6.400%, 3/15/54 | &nbsp;&nbsp; 58147 |
| &nbsp;&nbsp; 132000 | &nbsp;&nbsp;Textron Financial Corp., 144a, (TSFR3M + 1.997%), 6.208%, 2/15/42<sup>(A)</sup> | &nbsp;&nbsp; 119275 |
| &nbsp;&nbsp; 80000 | &nbsp;&nbsp;Timken Co. (The), 4.500%, 12/15/28 | &nbsp;&nbsp; 80482 |
| &nbsp;&nbsp; 72000 | &nbsp;&nbsp;United Parcel Service, Inc., 5.950%, 5/14/55 | &nbsp;&nbsp; 75191 |
| &nbsp;&nbsp; 43000 | &nbsp;&nbsp;WestRock MWV LLC, 8.200%, 1/15/30 | &nbsp;&nbsp; 49259 |
|  |  | &nbsp;&nbsp; 905644 |
|  | &nbsp;&nbsp;**Consumer Staples — 1.7%** |  |
| &nbsp;&nbsp; 48000 | &nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.900%, 2/1/46 | &nbsp;&nbsp; 44950 |
| &nbsp;&nbsp; 72000 | &nbsp;&nbsp;BAT Capital Corp. (United Kingdom), 2.259%, 3/25/28 | &nbsp;&nbsp; 68800 |
| &nbsp;&nbsp; 64000 | &nbsp;&nbsp;Cargill, Inc., 144a, 4.760%, 11/23/45 | &nbsp;&nbsp; 58933 |
| &nbsp;&nbsp; 126000 | &nbsp;&nbsp;Coca-Cola Co. (The), 2.500%, 3/15/51 | &nbsp;&nbsp; 77008 |
| &nbsp;&nbsp; 64000 | &nbsp;&nbsp;ERAC USA Finance LLC, 144a, 4.200%, 11/1/46 | &nbsp;&nbsp; 53892 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;Kroger Co. (The), 5.000%, 4/15/42 | &nbsp;&nbsp; 49369 |
| &nbsp;&nbsp; 33000 | &nbsp;&nbsp;Mars, Inc., 144a, 3.600%, 4/1/34 | &nbsp;&nbsp; 30233 |
| &nbsp;&nbsp; 72000 | &nbsp;&nbsp;Mars, Inc., 144a, 5.200%, 3/1/35 | &nbsp;&nbsp; 73595 |
| &nbsp;&nbsp; 45000 | &nbsp;&nbsp;PepsiCo, Inc., 1.625%, 5/1/30 | &nbsp;&nbsp; 40363 |
| &nbsp;&nbsp; 97000 | &nbsp;&nbsp;Pernod Ricard International Finance LLC, 144a, 1.625%, 4/1/31 | &nbsp;&nbsp; 83552 |
| &nbsp;&nbsp; 102000 | &nbsp;&nbsp;Philip Morris International, Inc., 5.375%, 2/15/33 | &nbsp;&nbsp; 106479 |
| &nbsp;&nbsp; 53000 | &nbsp;&nbsp;Starbucks Corp., 3.350%, 3/12/50 | &nbsp;&nbsp; 36748 |
| &nbsp;&nbsp; 57000 | &nbsp;&nbsp;Tyson Foods, Inc., 5.400%, 3/15/29 | &nbsp;&nbsp; 58961 |
| &nbsp;&nbsp; 51000 | &nbsp;&nbsp;Walmart, Inc., 4.500%, 9/9/52 | &nbsp;&nbsp; 45691 |
|  |  | &nbsp;&nbsp; 828574 |
|  | &nbsp;&nbsp;**Energy — 1.5%** |  |
| &nbsp;&nbsp; 85000 | &nbsp;&nbsp;BP Capital Markets America, Inc., 4.970%, 10/17/29 | &nbsp;&nbsp; 87564 |
| &nbsp;&nbsp; 71000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 3.250%, 1/31/32 | &nbsp;&nbsp; 64689 |
| &nbsp;&nbsp; 30000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 4.000%, 3/1/31 | &nbsp;&nbsp; 28935 |
| &nbsp;&nbsp; 87000 | &nbsp;&nbsp;DCP Midstream Operating LP, 144a, 6.750%, 9/15/37 | &nbsp;&nbsp; 94670 |
| &nbsp;&nbsp; 71000 | &nbsp;&nbsp;HF Sinclair Corp., 5.000%, 2/1/28 | &nbsp;&nbsp; 71153 |
| &nbsp;&nbsp; 78000 | &nbsp;&nbsp;Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29 | &nbsp;&nbsp; 78360 |
| &nbsp;&nbsp; 79000 | &nbsp;&nbsp;NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | &nbsp;&nbsp; 91186 |
| &nbsp;&nbsp; 73000 | &nbsp;&nbsp;Occidental Petroleum Corp., 7.950%, 6/15/39 | &nbsp;&nbsp; 85565 |
| &nbsp;&nbsp; 86000 | &nbsp;&nbsp;Sempra Infrastructure Partners LP, 144a, 3.250%, 1/15/32 | &nbsp;&nbsp; 76280 |
| &nbsp;&nbsp; 65000 | &nbsp;&nbsp;Western Midstream Operating LP, 5.250%, 2/1/50 | &nbsp;&nbsp; 56556 |
|  |  | &nbsp;&nbsp; 734958 |
|  | &nbsp;&nbsp;**Information Technology — 1.4%** |  |
| &nbsp;&nbsp; 87000 | &nbsp;&nbsp;Apple, Inc., 4.650%, 2/23/46 | &nbsp;&nbsp; 81318 |
| &nbsp;&nbsp; 91000 | &nbsp;&nbsp;Broadcom, Inc., 144a, 3.419%, 4/15/33 | &nbsp;&nbsp; 84219 |
| &nbsp;&nbsp; 104000 | &nbsp;&nbsp;Cisco Systems, Inc., 4.850%, 2/26/29 | &nbsp;&nbsp; 106737 |
| &nbsp;&nbsp; 48000 | &nbsp;&nbsp;Dell International LLC / EMC Corp., 4.850%, 2/1/35 | &nbsp;&nbsp; 47238 |
| &nbsp;&nbsp; 86000 | &nbsp;&nbsp;Marvell Technology, Inc., 2.950%, 4/15/31 | &nbsp;&nbsp; 79450 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;Micron Technology, Inc., 2.703%, 4/15/32 | &nbsp;&nbsp; 36484 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;Micron Technology, Inc., 6.750%, 11/1/29 | &nbsp;&nbsp; 21737 |
| &nbsp;&nbsp; 113000 | &nbsp;&nbsp;Microsoft Corp., 2.525%, 6/1/50 | &nbsp;&nbsp; 71425 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Corporate Bonds — 17.3% (Continued)** |  |
|  | &nbsp;&nbsp;**Information Technology — 1.4% (Continued)** |  |
| $38000 | &nbsp;&nbsp;Oracle Corp., 2.650%, 7/15/26 | $37555 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;Oracle Corp., 3.600%, 4/1/40 | &nbsp;&nbsp; 17666 |
| &nbsp;&nbsp; 24000 | &nbsp;&nbsp;Oracle Corp., 4.300%, 7/8/34 | &nbsp;&nbsp; 22962 |
| &nbsp;&nbsp; 56000 | &nbsp;&nbsp;Texas Instruments, Inc., 5.100%, 5/23/35 | &nbsp;&nbsp; 57763 |
|  |  | &nbsp;&nbsp; 664554 |
|  | &nbsp;&nbsp;**Health Care — 1.3%** |  |
| &nbsp;&nbsp; 69000 | &nbsp;&nbsp;AbbVie, Inc., 4.450%, 5/14/46 | &nbsp;&nbsp; 61034 |
| &nbsp;&nbsp; 74000 | &nbsp;&nbsp;Amgen, Inc., 5.150%, 3/2/28 | &nbsp;&nbsp; 75742 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;Becton Dickinson & Co., 4.685%, 12/15/44 | &nbsp;&nbsp; 49222 |
| &nbsp;&nbsp; 70000 | &nbsp;&nbsp;CommonSpirit Health, 4.187%, 10/1/49 | &nbsp;&nbsp; 55494 |
| &nbsp;&nbsp; 60000 | &nbsp;&nbsp;CVS Health Corp., 5.125%, 7/20/45 | &nbsp;&nbsp; 54437 |
| &nbsp;&nbsp; 85000 | &nbsp;&nbsp;DH Europe Finance II Sarl, 3.250%, 11/15/39 | &nbsp;&nbsp; 69643 |
| &nbsp;&nbsp; 59000 | &nbsp;&nbsp;Elevance Health, Inc., 4.750%, 2/15/33 | &nbsp;&nbsp; 59169 |
| &nbsp;&nbsp; 76000 | &nbsp;&nbsp;HCA, Inc., 5.500%, 3/1/32 | &nbsp;&nbsp; 79202 |
| &nbsp;&nbsp; 59000 | &nbsp;&nbsp;Thermo Fisher Scientific, Inc., 5.404%, 8/10/43 | &nbsp;&nbsp; 59599 |
| &nbsp;&nbsp; 87000 | &nbsp;&nbsp;UnitedHealth Group, Inc., 3.500%, 8/15/39 | &nbsp;&nbsp; 72577 |
|  |  | &nbsp;&nbsp; 636119 |
|  | &nbsp;&nbsp;**Communication Services — 1.1%** |  |
| &nbsp;&nbsp; 88000 | &nbsp;&nbsp;AT&T, Inc., 3.800%, 12/1/57 | &nbsp;&nbsp; 62670 |
| &nbsp;&nbsp; 44000 | &nbsp;&nbsp;AT&T, Inc., 4.500%, 5/15/35 | &nbsp;&nbsp; 42511 |
| &nbsp;&nbsp; 49000 | &nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/45 | &nbsp;&nbsp; 48361 |
| &nbsp;&nbsp; 61000 | &nbsp;&nbsp;Comcast Corp., 4.000%, 3/1/48 | &nbsp;&nbsp; 47642 |
| &nbsp;&nbsp; 85000 | &nbsp;&nbsp;Rogers Communications, Inc. (Canada), 5.300%, 2/15/34<sup>†</sup> | &nbsp;&nbsp; 86232 |
| &nbsp;&nbsp; 96000 | &nbsp;&nbsp;T-Mobile USA, Inc., 3.875%, 4/15/30 | &nbsp;&nbsp; 94141 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;T-Mobile USA, Inc., 5.750%, 1/15/54 | &nbsp;&nbsp; 35014 |
| &nbsp;&nbsp; 80000 | &nbsp;&nbsp;Verizon Communications, Inc., 2.987%, 10/30/56 | &nbsp;&nbsp; 49285 |
| &nbsp;&nbsp; 98000 | &nbsp;&nbsp;Videotron Ltd. (Canada), 144a, 3.625%, 6/15/29 | &nbsp;&nbsp; 95034 |
|  |  | &nbsp;&nbsp; 560890 |
|  | &nbsp;&nbsp;**Utilities — 1.1%** |  |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;Calpine Corp., 144a, 5.000%, 2/1/31 | &nbsp;&nbsp; 39882 |
| &nbsp;&nbsp; 115000 | &nbsp;&nbsp;CMS Energy Corp., 4.750%, 6/1/50 | &nbsp;&nbsp; 112138 |
| &nbsp;&nbsp; 81000 | &nbsp;&nbsp;Duke Energy Progress LLC, 4.150%, 12/1/44 | &nbsp;&nbsp; 68709 |
| &nbsp;&nbsp; 59000 | &nbsp;&nbsp;Edison International, 4.125%, 3/15/28 | &nbsp;&nbsp; 57925 |
| &nbsp;&nbsp; 43000 | &nbsp;&nbsp;Georgia Power Co., 5.950%, 2/1/39 | &nbsp;&nbsp; 45136 |
| &nbsp;&nbsp; 85000 | &nbsp;&nbsp;Ohio Power Co., Ser R, 2.900%, 10/1/51 | &nbsp;&nbsp; 52900 |
| &nbsp;&nbsp; 78000 | &nbsp;&nbsp;Oncor Electric Delivery Co. LLC, 144a, 5.800%, 4/1/55 | &nbsp;&nbsp; 80333 |
| &nbsp;&nbsp; 73000 | &nbsp;&nbsp;PacifiCorp., 5.750%, 4/1/37 | &nbsp;&nbsp; 75417 |
|  |  | &nbsp;&nbsp; 532440 |
|  | &nbsp;&nbsp;**Real Estate — 0.7%** |  |
| &nbsp;&nbsp; 87000 | &nbsp;&nbsp;American Tower Corp. REIT, 5.900%, 11/15/33 | &nbsp;&nbsp; 93257 |
| &nbsp;&nbsp; 82000 | &nbsp;&nbsp;Crown Castle, Inc. REIT, 4.800%, 9/1/28 | &nbsp;&nbsp; 83162 |
| &nbsp;&nbsp; 77000 | &nbsp;&nbsp;Invitation Homes Operating Partnership LP REIT, 4.150%, 4/15/32 | &nbsp;&nbsp; 74439 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;Store Capital LLC REIT, 2.700%, 12/1/31 | &nbsp;&nbsp; 40280 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Store Capital LLC REIT, 2.750%, 11/18/30 | &nbsp;&nbsp; 7274 |
| &nbsp;&nbsp; 44000 | &nbsp;&nbsp;Store Capital LLC REIT, 4.625%, 3/15/29 | &nbsp;&nbsp; 43715 |
|  |  | &nbsp;&nbsp; 342127 |
|  | &nbsp;&nbsp;**Materials — 0.2%** |  |
| &nbsp;&nbsp; 38000 | &nbsp;&nbsp;Rio Tinto Finance USA PLC (Australia), 5.250%, 3/14/35 | &nbsp;&nbsp; 39135 |
| &nbsp;&nbsp; 68000 | &nbsp;&nbsp;Sherwin-Williams Co. (The), 4.500%, 6/1/47 | &nbsp;&nbsp; 58673 |
|  |  | &nbsp;&nbsp; 97808 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | &nbsp;&nbsp; $8425474 |
|  | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 6.1%** | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 6.1%** |
| &nbsp;&nbsp; 77684 | &nbsp;&nbsp;FHLMC, Pool #G05624, 4.500%, 9/1/39 | &nbsp;&nbsp; 78256 |
| &nbsp;&nbsp; 51529 | &nbsp;&nbsp;FHLMC, Pool #Q29260, 4.000%, 10/1/44 | &nbsp;&nbsp; 49856 |
| &nbsp;&nbsp; 257508 | &nbsp;&nbsp;FHLMC REMIC, Pool #QE9228, 4.500%, 9/1/52 | &nbsp;&nbsp; 250909 |
| &nbsp;&nbsp; 191169 | &nbsp;&nbsp;FHLMC REMIC, Pool #QX4026, 5.500%, 1/1/55 | &nbsp;&nbsp; 194289 |
| &nbsp;&nbsp; 133388 | &nbsp;&nbsp;FHLMC REMIC, Pool #RA7357, 4.500%, 7/1/52 | &nbsp;&nbsp; 130333 |

---

------

Touchstone Balanced Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 6.1%<br> (Continued)** | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 6.1%<br> (Continued)** |
| $138890 | &nbsp;&nbsp;FHLMC REMIC, Pool #RA7483, 4.000%, 6/1/52 | $131343 |
| &nbsp;&nbsp; 131632 | &nbsp;&nbsp;FHLMC REMIC, Pool #SB0762, 2.500%, 4/1/37 | &nbsp;&nbsp; 123741 |
| &nbsp;&nbsp; 270495 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD1436, 4.500%, 8/1/52 | &nbsp;&nbsp; 264324 |
| &nbsp;&nbsp; 237729 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD1515, 4.500%, 8/1/52 | &nbsp;&nbsp; 232633 |
| &nbsp;&nbsp; 230380 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD1620, 5.000%, 9/1/52 | &nbsp;&nbsp; 231002 |
| &nbsp;&nbsp; 239447 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD1638, 5.000%, 9/1/52 | &nbsp;&nbsp; 239072 |
| &nbsp;&nbsp; 309703 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD8212, 2.500%, 5/1/52 | &nbsp;&nbsp; 261542 |
| &nbsp;&nbsp; 152296 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD8220, 3.000%, 6/1/52 | &nbsp;&nbsp; 134029 |
| &nbsp;&nbsp; 27648 | &nbsp;&nbsp;FNMA, Pool #725423, 5.500%, 5/1/34 | &nbsp;&nbsp; 28389 |
| &nbsp;&nbsp; 24924 | &nbsp;&nbsp;FNMA, Pool #725610, 5.500%, 7/1/34 | &nbsp;&nbsp; 25526 |
| &nbsp;&nbsp; 6194 | &nbsp;&nbsp;FNMA, Pool #890310, 4.500%, 12/1/40 | &nbsp;&nbsp; 6211 |
| &nbsp;&nbsp; 22338 | &nbsp;&nbsp;FNMA, Pool #AD9193, 5.000%, 9/1/40 | &nbsp;&nbsp; 22885 |
| &nbsp;&nbsp; 202354 | &nbsp;&nbsp;FNMA, Pool #FA0499, 5.000%, 10/1/53 | &nbsp;&nbsp; 201282 |
| &nbsp;&nbsp; 217028 | &nbsp;&nbsp;FNMA, Pool #FS2906, 5.000%, 9/1/52 | &nbsp;&nbsp; 216729 |
| &nbsp;&nbsp; 143642 | &nbsp;&nbsp;FNMA, Pool #FS9194, 3.500%, 2/1/52 | &nbsp;&nbsp; 131824 |
|  | &nbsp;&nbsp;**Total U.S. Government Mortgage-Backed Obligations** | &nbsp;&nbsp; $2954175 |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 4.6%** | &nbsp;&nbsp;**U.S. Treasury Obligations — 4.6%** |
| &nbsp;&nbsp; 395000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 2/15/45 | &nbsp;&nbsp; 397098 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 8/15/55 | &nbsp;&nbsp; 15040 |
| &nbsp;&nbsp; 276415 | &nbsp;&nbsp;U.S. Treasury Inflation Indexed Notes, 2.375%, 2/15/55 | &nbsp;&nbsp; 269409 |
| &nbsp;&nbsp; 205000 | &nbsp;&nbsp;U.S. Treasury Note, 3.750%, 4/15/28 | &nbsp;&nbsp; 205665 |
| &nbsp;&nbsp;1010000 | &nbsp;&nbsp;U.S. Treasury Note, 4.000%, 5/31/30 | &nbsp;&nbsp; 1022073 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;U.S. Treasury Note, 4.250%, 8/15/35 | &nbsp;&nbsp; 302437 |
|  | &nbsp;&nbsp;**Total U.S. Treasury Obligations** | &nbsp;&nbsp; $2211722 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 2.5%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 2.5%** |
| &nbsp;&nbsp; 119143 | &nbsp;&nbsp;CIM Trust, Ser 2021-J3, Class A7, 144a, 2.500%, 6/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 106462 |
| &nbsp;&nbsp; 134496 | &nbsp;&nbsp;Flagstar Mortgage Trust, Ser 2021-4, Class A1, 144a, 2.500%, 6/1/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 111812 |
| &nbsp;&nbsp; 65655 | &nbsp;&nbsp;Flagstar Mortgage Trust, Ser 2021-5INV, Class A16, 144a, 2.500%, 7/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 54029 |
| &nbsp;&nbsp; 177328 | &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2021-PJ10, Class A8, 144a, 2.500%, 3/25/52<sup>(A)(B)</sup> | &nbsp;&nbsp; 158380 |
| &nbsp;&nbsp; 77004 | &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2021-PJ9, Class A8, 144a, 2.500%, 2/26/52<sup>(A)(B)</sup> | &nbsp;&nbsp; 68772 |
| &nbsp;&nbsp; 114202 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2021-13, Class A4, 144a, 2.500%, 4/25/52<sup>(A)(B)</sup> | &nbsp;&nbsp; 102562 |
| &nbsp;&nbsp; 70569 | &nbsp;&nbsp;Mello Mortgage Capital Acceptance, Ser 2021-MTG3, Class A9, 144a, 2.500%, 7/1/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 63735 |
| &nbsp;&nbsp; 129716 | &nbsp;&nbsp;New Residential Mortgage Loan Trust, Ser 2021-INV2, Class A7, 144a, 2.500%, 9/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 116762 |
| &nbsp;&nbsp; 141944 | &nbsp;&nbsp;Provident Funding Mortgage Trust, Ser 2021-J1, Class A3, 144a, 2.500%, 10/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 126422 |
| &nbsp;&nbsp; 135587 | &nbsp;&nbsp;PSMC Trust, Ser 2021-3, Class A3, 144a, 2.500%, 8/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 122397 |
| &nbsp;&nbsp; 139063 | &nbsp;&nbsp;Rate Mortgage Trust, Ser 2021-J3, Class A7, 144a, 2.500%, 10/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 123465 |
| &nbsp;&nbsp; 95000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2020-4, Class A2, 144a, 2.500%, 10/25/60 | &nbsp;&nbsp; 78138 |
|  | &nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp; $1232936 |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 1.9%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 1.9%** |
| &nbsp;&nbsp; 60000 | &nbsp;&nbsp;BANK, Ser 2020-BN26, Class A4, 2.403%, 3/15/63 | &nbsp;&nbsp; 54701 |
| &nbsp;&nbsp; 280000 | &nbsp;&nbsp;BANK, Ser 2021-BN37, Class A5, 2.618%, 11/15/64<sup>(A)(B)</sup> | &nbsp;&nbsp; 249144 |
| &nbsp;&nbsp; 255000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2020-GC46, Class A5, 2.717%, 2/15/53 | &nbsp;&nbsp; 235882 |
| &nbsp;&nbsp; 170000 | &nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2017-JP7, Class A5, 3.454%, 9/15/50 | &nbsp;&nbsp; 166901 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 1.9% (Continued)** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 1.9% (Continued)** |
| $75000 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2018-H3, Class A5, 4.177%, 7/15/51 | $74531 |
| &nbsp;&nbsp; 170000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2019-C51, Class A4, 3.311%, 6/15/52 | &nbsp;&nbsp; 160891 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $942050 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Exchange-Traded Fund — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11938 | &nbsp;&nbsp;iShares Broad USD High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;451018 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  |  |
|  | &nbsp;&nbsp;**Sovereign Government Obligations — 0.3%** | &nbsp;&nbsp;**Sovereign Government Obligations — 0.3%** |
| $119000 | &nbsp;&nbsp;Peruvian Government International Bond, 2.780%, 12/1/60 | &nbsp;&nbsp; 66324 |
| &nbsp;&nbsp; 61000 | &nbsp;&nbsp;Republic of Poland Government International Bond, 5.500%, 3/18/54 | &nbsp;&nbsp; 58964 |
|  | &nbsp;&nbsp;**Total Sovereign Government Obligations** | &nbsp;&nbsp;&nbsp;&nbsp; $125288 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;422254 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 422254 |
| &nbsp;&nbsp;&nbsp;&nbsp;72325 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 4.05%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 72325 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp;&nbsp;&nbsp; $494579 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.2%<br> (Cost $33,054,515)** | $48769961 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.2%)** | &nbsp;&nbsp;&nbsp; (95078) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $48674883 |

---

---

| | |
|:---|:---|
| *(A)* | *Variable rate security - Rate reflected is the rate in effect as of September 30, 2025.* |
| *(B)* | *Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.* |
| *\** | *Non-income producing security.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of September 30, 2025 was $70,176.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *DAC – Designated Activity Company* |
| *ETF – Exchange-Traded Fund* |
| *FHLMC – Federal Home Loan Mortgage Corporation* |
| *FNMA – Federal National Mortgage Association* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *MTN – Medium Term Note* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *REMIC – Real Estate Mortgage Investment Conduit* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *USD – United States Dollar* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2025, these securities were valued at $3,318,374 or 6.8% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

------

Touchstone Balanced Fund (Unaudited) (Continued)

#### Other Information:
*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$31932719* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$—* | *$31932719* |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*8425474* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*8425474* |
| *U.S. Government Mortgage-Backed Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2954175* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2954175* |
| *U.S. Treasury Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2211722* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2211722* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1232936* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1232936* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*942050* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*942050* |
| *Exchange-Traded Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*451018* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*451018* |
| *Sovereign Government Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*125288* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*125288* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*494579* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*494579* |
| *Total* | *$32878316* | *$15891645* | *$—* | *$48769961* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Bond Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 41.4%** |  |
|  | &nbsp;&nbsp;**Financials — 9.8%** |  |
| $136000 | &nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 3.000%, 10/29/28 | $131084 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144a, 7.000%, 1/15/31 | &nbsp;&nbsp; 16530 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;Allstate Corp. (The), Ser B, (TSFR3M + 3.200%), 7.411%, 8/15/53<sup>(A)</sup> | &nbsp;&nbsp; 40997 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Ally Financial, Inc., 8.000%, 11/1/31 | &nbsp;&nbsp; 4553 |
| &nbsp;&nbsp; 178000 | &nbsp;&nbsp;American Express Co., 5.282%, 7/27/29 | &nbsp;&nbsp; 183629 |
| &nbsp;&nbsp; 101000 | &nbsp;&nbsp;Bank of America Corp., 2.687%, 4/22/32 | &nbsp;&nbsp; 92038 |
| &nbsp;&nbsp; 126000 | &nbsp;&nbsp;Bank of America Corp., 3.705%, 4/24/28 | &nbsp;&nbsp; 125190 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;Bank of America Corp., 5.511%, 1/24/36 | &nbsp;&nbsp; 40762 |
| &nbsp;&nbsp; 168000 | &nbsp;&nbsp;Bank of Montreal (Canada), 3.803%, 12/15/32 | &nbsp;&nbsp; 165037 |
| &nbsp;&nbsp; 154000 | &nbsp;&nbsp;Bank of New York Mellon Corp. (The), 5.834%, 10/25/33 | &nbsp;&nbsp; 165904 |
| &nbsp;&nbsp; 122000 | &nbsp;&nbsp;Bank of Nova Scotia (The) (Canada), Ser 2, 3.625%, 10/27/81 | &nbsp;&nbsp; 116208 |
| &nbsp;&nbsp; 187000 | &nbsp;&nbsp;Barclays PLC (United Kingdom), 2.894%, 11/24/32 | &nbsp;&nbsp; 168598 |
| &nbsp;&nbsp; 89000 | &nbsp;&nbsp;Berkshire Hathaway Finance Corp., 4.250%, 1/15/49 | &nbsp;&nbsp; 76295 |
| &nbsp;&nbsp; 189000 | &nbsp;&nbsp;Citigroup, Inc., 4.542%, 9/19/30 | &nbsp;&nbsp; 189896 |
| &nbsp;&nbsp; 91000 | &nbsp;&nbsp;Citigroup, Inc., 6.174%, 5/25/34 | &nbsp;&nbsp; 96813 |
| &nbsp;&nbsp; 155000 | &nbsp;&nbsp;Citizens Bank NA, 4.575%, 8/9/28 | &nbsp;&nbsp; 155953 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 9.250%, 12/15/28 | &nbsp;&nbsp; 15760 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 6.625%, 3/15/30 | &nbsp;&nbsp; 10026 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;CrossCountry Intermediate HoldCo LLC, 144a, 6.500%, 10/1/30 | &nbsp;&nbsp; 3010 |
| &nbsp;&nbsp; 108000 | &nbsp;&nbsp;First Maryland Capital I, (TSFR3M + 1.262%), 5.579%, 1/15/27<sup>(A)</sup> | &nbsp;&nbsp; 106932 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;FirstCash, Inc., 144a, 4.625%, 9/1/28 | &nbsp;&nbsp; 6855 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Freedom Mortgage Corp., 144a, 12.000%, 10/1/28 | &nbsp;&nbsp; 4240 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 7.875%, 4/1/33 | &nbsp;&nbsp; 2060 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 9.250%, 2/1/29 | &nbsp;&nbsp; 18996 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 9.250%, 12/1/28 | &nbsp;&nbsp; 14615 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 6.875%, 5/15/30 | &nbsp;&nbsp; 6944 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 7.625%, 7/1/29 | &nbsp;&nbsp; 5063 |
| &nbsp;&nbsp; 177000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 2.615%, 4/22/32 | &nbsp;&nbsp; 160601 |
| &nbsp;&nbsp; 92000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 3.691%, 6/5/28 | &nbsp;&nbsp; 91355 |
| &nbsp;&nbsp; 150000 | &nbsp;&nbsp;Guardian Life Global Funding, 144a, 4.327%, 10/6/30 | &nbsp;&nbsp; 150110 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Jane Street Group / JSG Finance, Inc., 144a, 6.125%, 11/1/32<sup>†</sup> | &nbsp;&nbsp; 17230 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Jane Street Group / JSG Finance, Inc., 144a, 6.750%, 5/1/33 | &nbsp;&nbsp; 6223 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;Jefferson Capital Holdings LLC, 144a, 8.250%, 5/15/30 | &nbsp;&nbsp; 7325 |
| &nbsp;&nbsp; 129000 | &nbsp;&nbsp;JPMorgan Chase & Co., 2.956%, 5/13/31 | &nbsp;&nbsp; 121029 |
| &nbsp;&nbsp; 168000 | &nbsp;&nbsp;JPMorgan Chase & Co., 3.509%, 1/23/29 | &nbsp;&nbsp; 165806 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;JPMorgan Chase & Co., 4.946%, 10/22/35 | &nbsp;&nbsp; 41347 |
| &nbsp;&nbsp; 129000 | &nbsp;&nbsp;Macquarie Airfinance Holdings Ltd. (United Kingdom), 144a, 6.400%, 3/26/29 | &nbsp;&nbsp; 135666 |
| &nbsp;&nbsp; 94000 | &nbsp;&nbsp;Marsh & McLennan Cos., Inc., 5.350%, 11/15/44 | &nbsp;&nbsp; 93167 |
| &nbsp;&nbsp; 188000 | &nbsp;&nbsp;Mastercard, Inc., 2.000%, 11/18/31 | &nbsp;&nbsp; 166026 |
| &nbsp;&nbsp; 148000 | &nbsp;&nbsp;Morgan Stanley, 2.484%, 9/16/36 | &nbsp;&nbsp; 128626 |
| &nbsp;&nbsp; 156000 | &nbsp;&nbsp;Morgan Stanley, 3.950%, 4/23/27 | &nbsp;&nbsp; 155710 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Nationstar Mortgage Holdings, Inc., 144a, 6.500%, 8/1/29 | &nbsp;&nbsp; 6158 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Nationstar Mortgage Holdings, Inc., 144a, 7.125%, 2/1/32 | &nbsp;&nbsp; 16736 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Navient Corp., 4.875%, 3/15/28 | &nbsp;&nbsp; 3924 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Navient Corp., 5.000%, 3/15/27 | &nbsp;&nbsp; 9961 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Navient Corp., 7.875%, 6/15/32 | &nbsp;&nbsp; 4210 |
| &nbsp;&nbsp; 138000 | &nbsp;&nbsp;New York Life Global Funding, 144a, 4.550%, 1/28/33 | &nbsp;&nbsp; 137801 |
| &nbsp;&nbsp; 198000 | &nbsp;&nbsp;Northwestern Mutual Life Insurance Co. (The), 144a, 3.850%, 9/30/47 | &nbsp;&nbsp; 153668 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;OneMain Finance Corp., 3.875%, 9/15/28 | &nbsp;&nbsp; 6728 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;OneMain Finance Corp., 4.000%, 9/15/30 | &nbsp;&nbsp; 4648 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;OneMain Finance Corp., 6.500%, 3/15/33 | &nbsp;&nbsp; 9022 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 41.4% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 9.8% (Continued)** |  |
| $6000 | &nbsp;&nbsp;OneMain Finance Corp., 6.625%, 5/15/29 | $6168 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;OneMain Finance Corp., 7.125%, 3/15/26 | &nbsp;&nbsp; 2018 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;OneMain Finance Corp., 7.125%, 9/15/32 | &nbsp;&nbsp; 4132 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 5.750%, 9/15/31 | &nbsp;&nbsp; 4955 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 7.875%, 12/15/29 | &nbsp;&nbsp; 6368 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 7.125%, 11/15/30 | &nbsp;&nbsp; 6248 |
| &nbsp;&nbsp; 136000 | &nbsp;&nbsp;PNC Capital Trust, (TSFR3M + 0.832%), 5.003%, 6/1/28<sup>(A)</sup> | &nbsp;&nbsp; 134313 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;PRA Group, Inc., 144a, 8.375%, 2/1/28 | &nbsp;&nbsp; 3068 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;PRA Group, Inc., 144a, 8.875%, 1/31/30 | &nbsp;&nbsp; 19608 |
| &nbsp;&nbsp; 152000 | &nbsp;&nbsp;Royal Bank of Canada (Canada), 4.969%, 8/2/30 | &nbsp;&nbsp; 155551 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;SBL Holdings, Inc., 144a, 9.508%<sup>(B)</sup> | &nbsp;&nbsp; 17680 |
| &nbsp;&nbsp; 245000 | &nbsp;&nbsp;State Street Corp., (TSFR3M + 1.262%), 5.299%, 6/15/47<sup>(A)</sup> | &nbsp;&nbsp; 221699 |
| &nbsp;&nbsp; 194000 | &nbsp;&nbsp;Teachers Insurance & Annuity Association of America, 144a, 3.300%, 5/15/50 | &nbsp;&nbsp; 133630 |
| &nbsp;&nbsp; 260000 | &nbsp;&nbsp;Truist Financial Corp., Ser A, (TSFR3M + 0.932%), 5.143%, 5/15/27<sup>(A)</sup> | &nbsp;&nbsp; 258060 |
| &nbsp;&nbsp; 119000 | &nbsp;&nbsp;US Bancorp, 4.967%, 7/22/33 | &nbsp;&nbsp; 119488 |
|  |  | &nbsp;&nbsp; 4850051 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.9%** |  |
| &nbsp;&nbsp; 215000 | &nbsp;&nbsp;7-Eleven, Inc., 144a, 1.800%, 2/10/31 | &nbsp;&nbsp; 186951 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Allison Transmission, Inc., 144a, 4.750%, 10/1/27 | &nbsp;&nbsp; 15890 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;American Axle & Manufacturing, Inc., 144a, 6.375%, 10/15/32 | &nbsp;&nbsp; 1996 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;American Axle & Manufacturing, Inc., 144a, 7.750%, 10/15/33 | &nbsp;&nbsp; 2015 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Beazer Homes USA, Inc., 7.250%, 10/15/29 | &nbsp;&nbsp; 8138 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Beazer Homes USA, Inc., 144a, 7.500%, 3/15/31 | &nbsp;&nbsp; 6079 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;BlueLinx Holdings, Inc., 144a, 6.000%, 11/15/29 | &nbsp;&nbsp; 24606 |
| &nbsp;&nbsp; 162000 | &nbsp;&nbsp;BMW US Capital LLC (Germany), 144a, 4.500%, 8/11/30 | &nbsp;&nbsp; 162313 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.125%, 5/1/29 | &nbsp;&nbsp; 4000 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.750%, 8/1/32 | &nbsp;&nbsp; 28490 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.875%, 6/15/31 | &nbsp;&nbsp; 12297 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Carnival Corp., 144a, 6.125%, 2/15/33 | &nbsp;&nbsp; 4100 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Carriage Services, Inc., 144a, 4.250%, 5/15/29 | &nbsp;&nbsp; 9473 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Century Communities, Inc., 144a, 6.625%, 9/15/33 | &nbsp;&nbsp; 10089 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Champ Acquisition Corp., 144a, 8.375%, 12/1/31 | &nbsp;&nbsp; 18068 |
| &nbsp;&nbsp; 128000 | &nbsp;&nbsp;Delta Air Lines, Inc. / SkyMiles IP Ltd., 144a, 4.750%, 10/20/28 | &nbsp;&nbsp; 128725 |
| &nbsp;&nbsp; 124000 | &nbsp;&nbsp;Ferguson Enterprises, Inc., 4.350%, 3/15/31 | &nbsp;&nbsp; 123203 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;Gap, Inc. (The), 144a, 3.625%, 10/1/29 | &nbsp;&nbsp; 8420 |
| &nbsp;&nbsp; 338000 | &nbsp;&nbsp;General Motors Financial Co., Inc., 3.100%, 1/12/32 | &nbsp;&nbsp; 304512 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 4.700%, 10/7/30 | &nbsp;&nbsp; 45942 |
| &nbsp;&nbsp; 94000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 5.400%, 10/7/35 | &nbsp;&nbsp; 94015 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;Goodyear Tire & Rubber Co. (The), 5.625%, 4/30/33 | &nbsp;&nbsp; 8386 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;Group 1 Automotive, Inc., 144a, 4.000%, 8/15/28 | &nbsp;&nbsp; 18469 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Group 1 Automotive, Inc., 144a, 6.375%, 1/15/30 | &nbsp;&nbsp; 4092 |
| &nbsp;&nbsp; 114000 | &nbsp;&nbsp;Home Depot, Inc. (The), 5.950%, 4/1/41 | &nbsp;&nbsp; 122876 |
| &nbsp;&nbsp; 119000 | &nbsp;&nbsp;Hyundai Capital America, 144a, 5.350%, 3/19/29 | &nbsp;&nbsp; 122242 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;JB Poindexter & Co., Inc., 144a, 8.750%, 12/15/31 | &nbsp;&nbsp; 19897 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;LGI Homes, Inc., 144a, 7.000%, 11/15/32 | &nbsp;&nbsp; 11687 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Light & Wonder International, Inc., 144a, 6.250%, 10/1/33 | &nbsp;&nbsp; 15025 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;Lindblad Expeditions LLC, 144a, 7.000%, 9/15/30 | &nbsp;&nbsp; 2039 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Lithia Motors, Inc., 144a, 5.500%, 10/1/30 | &nbsp;&nbsp; 11005 |
| &nbsp;&nbsp; 155000 | &nbsp;&nbsp;Lowe's Cos., Inc., 4.500%, 4/15/30 | &nbsp;&nbsp; 157018 |
| &nbsp;&nbsp; 124000 | &nbsp;&nbsp;Mattel, Inc., 5.450%, 11/1/41 | &nbsp;&nbsp; 114157 |
| &nbsp;&nbsp; 169000 | &nbsp;&nbsp;Meritage Homes Corp., 144a, 3.875%, 4/15/29 | &nbsp;&nbsp; 164565 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Michaels Cos., Inc. (The), 144a, 5.250%, 5/1/28 | &nbsp;&nbsp; 19250 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;NCL Corp. Ltd., 144a, 5.875%, 1/15/31 | &nbsp;&nbsp; 3998 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;NCL Corp. Ltd., 144a, 6.250%, 9/15/33 | &nbsp;&nbsp; 2011 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;NCL Corp. Ltd., 144a, 6.750%, 2/1/32 | &nbsp;&nbsp; 8225 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Newell Brands, Inc., 6.375%, 9/15/27 | &nbsp;&nbsp; 11152 |

---

------

Touchstone Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 41.4% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.9% (Continued)** |  |
| $6000 | &nbsp;&nbsp;Newell Brands, Inc., 6.625%, 5/15/32 | $5900 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Newell Brands, Inc., 144a, 8.500%, 6/1/28 | &nbsp;&nbsp; 5288 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;Nissan Motor Acceptance Co. LLC, 144a, 6.125%, 9/30/30 | &nbsp;&nbsp; 8998 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;QXO Building Products, Inc., 144a, 6.750%, 4/30/32 | &nbsp;&nbsp; 22743 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Sonic Automotive, Inc., 144a, 4.625%, 11/15/29 | &nbsp;&nbsp; 15522 |
| &nbsp;&nbsp; 32000 | &nbsp;&nbsp;Speedway Motorsports LLC / Speedway Funding II, Inc., 144a, 4.875%, 11/1/27 | &nbsp;&nbsp; 31622 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Station Casinos LLC, 144a, 4.625%, 12/1/31 | &nbsp;&nbsp; 10376 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Taylor Morrison Communities, Inc., 144a, 5.125%, 8/1/30 | &nbsp;&nbsp; 9969 |
| &nbsp;&nbsp; 93000 | &nbsp;&nbsp;Toyota Motor Credit Corp., MTN, 4.650%, 1/5/29<sup>†</sup> | &nbsp;&nbsp; 94720 |
| &nbsp;&nbsp; 184000 | &nbsp;&nbsp;United Airlines, Inc., 144a, 4.625%, 4/15/29 | &nbsp;&nbsp; 181206 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Viking Cruises Ltd., 144a, 5.875%, 10/15/33 | &nbsp;&nbsp; 4004 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Voyager Parent LLC, 144a, 9.250%, 7/1/32 | &nbsp;&nbsp; 15862 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Warnermedia Holdings, Inc., 4.279%, 3/15/32<sup>†</sup> | &nbsp;&nbsp; 7330 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Warnermedia Holdings, Inc., 5.050%, 3/15/42 | &nbsp;&nbsp; 16747 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;Winnebago Industries, Inc., 144a, 6.250%, 7/15/28 | &nbsp;&nbsp; 1996 |
|  |  | &nbsp;&nbsp; 2447699 |
|  | &nbsp;&nbsp;**Industrials — 4.6%** |  |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;AAR Escrow Issuer LLC, 144a, 6.750%, 3/15/29 | &nbsp;&nbsp; 11329 |
| &nbsp;&nbsp; 136000 | &nbsp;&nbsp;Amcor Flexibles North America, Inc., 2.630%, 6/19/30 | &nbsp;&nbsp; 125497 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 4.625%, 5/15/30 | &nbsp;&nbsp; 12563 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 6.375%, 3/15/33 | &nbsp;&nbsp; 8211 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;BNSF Funding Trust I, 6.613%, 12/15/55 | &nbsp;&nbsp; 16978 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Bombardier, Inc. (Canada), 144a, 8.750%, 11/15/30 | &nbsp;&nbsp; 6470 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Brundage-Bone Concrete Pumping Holdings, Inc., 144a, 7.500%, 2/1/32 | &nbsp;&nbsp; 17166 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Builders FirstSource, Inc., 144a, 6.375%, 6/15/32 | &nbsp;&nbsp; 15505 |
| &nbsp;&nbsp; 142000 | &nbsp;&nbsp;Burlington Northern Santa Fe LLC, 5.750%, 5/1/40 | &nbsp;&nbsp; 150197 |
| &nbsp;&nbsp; 24000 | &nbsp;&nbsp;BWX Technologies, Inc., 144a, 4.125%, 6/30/28 | &nbsp;&nbsp; 23428 |
| &nbsp;&nbsp; 179000 | &nbsp;&nbsp;Canadian Pacific Railway Co. (Canada), 3.000%, 12/2/41 | &nbsp;&nbsp; 134133 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Cascades, Inc. / Cascades USA, Inc. (Canada), 144a, 5.375%, 1/15/28 | &nbsp;&nbsp; 7937 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Clean Harbors, Inc., 144a, 5.750%, 10/15/33 | &nbsp;&nbsp; 8070 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Clearwater Paper Corp., 144a, 4.750%, 8/15/28 | &nbsp;&nbsp; 9408 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Clydesdale Acquisition Holdings, Inc., 144a, 6.750%, 4/15/32 | &nbsp;&nbsp; 4103 |
| &nbsp;&nbsp; 184000 | &nbsp;&nbsp;Element Fleet Management Corp. (Canada), 144a, 5.037%, 3/25/30 | &nbsp;&nbsp; 187741 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;EMRLD Borrower LP / Emerald Co-Issuer, Inc., 144a, 6.625%, 12/15/30 | &nbsp;&nbsp; 10277 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;EMRLD Borrower LP / Emerald Co-Issuer, Inc., 144a, 6.750%, 7/15/31 | &nbsp;&nbsp; 3115 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 5.500%, 5/1/28 | &nbsp;&nbsp; 4002 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 7.000%, 6/15/32 | &nbsp;&nbsp; 2093 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 7.875%, 12/1/30 | &nbsp;&nbsp; 2125 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Imola Merger Corp., 144a, 4.750%, 5/15/29 | &nbsp;&nbsp; 24315 |
| &nbsp;&nbsp; 111000 | &nbsp;&nbsp;John Deere Capital Corp., MTN, 5.100%, 4/11/34 | &nbsp;&nbsp; 114860 |
| &nbsp;&nbsp; 98000 | &nbsp;&nbsp;Keysight Technologies, Inc., 4.950%, 10/15/34 | &nbsp;&nbsp; 98592 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Manitowoc Co., Inc. (The), 144a, 9.250%, 10/1/31 | &nbsp;&nbsp; 16821 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Mauser Packaging Solutions Holding Co., 144a, 7.875%, 8/15/26 | &nbsp;&nbsp; 3977 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Mauser Packaging Solutions Holding Co., 144a, 7.875%, 4/15/27 | &nbsp;&nbsp; 17167 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Moog, Inc., 144a, 4.250%, 12/15/27 | &nbsp;&nbsp; 16740 |
| &nbsp;&nbsp; 122000 | &nbsp;&nbsp;Norfolk Southern Corp., 4.837%, 10/1/41 | &nbsp;&nbsp; 116077 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Owens-Brockway Glass Container, Inc., 144a, 7.250%, 5/15/31 | &nbsp;&nbsp; 15281 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;Owens-Brockway Glass Container, Inc., 144a, 7.375%, 6/1/32 | &nbsp;&nbsp; 7066 |
| &nbsp;&nbsp; 81000 | &nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 5.350%, 1/12/27 | &nbsp;&nbsp; 81991 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 41.4% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 4.6% (Continued)** |  |
| $12000 | &nbsp;&nbsp;Quikrete Holdings, Inc., 144a, 6.375%, 3/1/32 | $12431 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;Roller Bearing Co. of America, Inc., 144a, 4.375%, 10/15/29 | &nbsp;&nbsp; 17486 |
| &nbsp;&nbsp; 84000 | &nbsp;&nbsp;RTX Corp., 6.400%, 3/15/54 | &nbsp;&nbsp; 93931 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Sensata Technologies, Inc., 144a, 3.750%, 2/15/31 | &nbsp;&nbsp; 11075 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Smyrna Ready Mix Concrete LLC, 144a, 8.875%, 11/15/31 | &nbsp;&nbsp; 10552 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;Standard Building Solutions, Inc., 144a, 6.250%, 8/1/33 | &nbsp;&nbsp; 7090 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;Standard Building Solutions, Inc., 144a, 6.500%, 8/15/32 | &nbsp;&nbsp; 3079 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Standard Industries, Inc., 144a, 3.375%, 1/15/31 | &nbsp;&nbsp; 7243 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Stanley Black & Decker, Inc., 6.707%, 3/15/60 | &nbsp;&nbsp; 25083 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Stonepeak Nile Parent LLC, 144a, 7.250%, 3/15/32 | &nbsp;&nbsp; 11582 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Terex Corp., 144a, 6.250%, 10/15/32 | &nbsp;&nbsp; 16299 |
| &nbsp;&nbsp; 321000 | &nbsp;&nbsp;Textron Financial Corp., 144a, (TSFR3M + 1.997%), 6.208%, 2/15/42<sup>(A)</sup> | &nbsp;&nbsp; 290056 |
| &nbsp;&nbsp; 145000 | &nbsp;&nbsp;Timken Co. (The), 4.500%, 12/15/28 | &nbsp;&nbsp; 145873 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.250%, 1/31/34 | &nbsp;&nbsp; 2055 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.375%, 3/1/29 | &nbsp;&nbsp; 10223 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.625%, 3/1/32 | &nbsp;&nbsp; 16471 |
| &nbsp;&nbsp; 160000 | &nbsp;&nbsp;United Parcel Service, Inc., 5.950%, 5/14/55 | &nbsp;&nbsp; 167091 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Waste Pro USA, Inc., 144a, 7.000%, 2/1/33 | &nbsp;&nbsp; 4143 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.375%, 3/15/29 | &nbsp;&nbsp; 6177 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.375%, 3/15/33 | &nbsp;&nbsp; 3110 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.625%, 3/15/32 | &nbsp;&nbsp; 6235 |
| &nbsp;&nbsp; 102000 | &nbsp;&nbsp;WestRock MWV LLC, 8.200%, 1/15/30 | &nbsp;&nbsp; 116846 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;XPO, Inc., 144a, 7.125%, 2/1/32 | &nbsp;&nbsp; 23103 |
|  |  | &nbsp;&nbsp; 2280469 |
|  | &nbsp;&nbsp;**Energy — 4.2%** |  |
| &nbsp;&nbsp; 135000 | &nbsp;&nbsp;Aker BP ASA (Norway), 144a, 5.125%, 10/1/34 | &nbsp;&nbsp; 132931 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Blue Racer Midstream LLC / Blue Racer Finance Corp., 144a, 7.000%, 7/15/29 | &nbsp;&nbsp; 8289 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Blue Racer Midstream LLC / Blue Racer Finance Corp., 144a, 7.250%, 7/15/32 | &nbsp;&nbsp; 5259 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Bristow Group, Inc., 144a, 6.875%, 3/1/28 | &nbsp;&nbsp; 15083 |
| &nbsp;&nbsp; 165000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 3.250%, 1/31/32 | &nbsp;&nbsp; 150334 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 4.000%, 3/1/31 | &nbsp;&nbsp; 50154 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Civitas Resources, Inc., 144a, 8.375%, 7/1/28 | &nbsp;&nbsp; 14511 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Crescent Energy Finance LLC, 144a, 7.625%, 4/1/32 | &nbsp;&nbsp; 7945 |
| &nbsp;&nbsp; 229000 | &nbsp;&nbsp;DCP Midstream Operating LP, 144a, 6.750%, 9/15/37 | &nbsp;&nbsp; 249188 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Diamond Foreign Asset Co. / Diamond Finance LLC, 144a, 8.500%, 10/1/30 | &nbsp;&nbsp; 16956 |
| &nbsp;&nbsp; 31000 | &nbsp;&nbsp;Enbridge, Inc. (Canada), Ser NC5, 8.250%, 1/15/84 | &nbsp;&nbsp; 33300 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Energy Transfer LP, 8.000%, 5/15/54 | &nbsp;&nbsp; 11756 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Energy Transfer LP, Ser G, 7.125%<sup>(B)</sup> | &nbsp;&nbsp; 4133 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 7.875%, 5/15/32 | &nbsp;&nbsp; 7298 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 8.250%, 1/15/29 | &nbsp;&nbsp; 7302 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 8.875%, 4/15/30 | &nbsp;&nbsp; 12701 |
| &nbsp;&nbsp; 128000 | &nbsp;&nbsp;HF Sinclair Corp., 5.000%, 2/1/28 | &nbsp;&nbsp; 128275 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 5.750%, 2/1/29 | &nbsp;&nbsp; 8866 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.000%, 4/15/30 | &nbsp;&nbsp; 4922 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.875%, 5/15/34 | &nbsp;&nbsp; 6732 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 8.375%, 11/1/33 | &nbsp;&nbsp; 8402 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Kinetik Holdings LP, 144a, 5.875%, 6/15/30 | &nbsp;&nbsp; 15089 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp., 144a, 6.875%, 12/1/32 | &nbsp;&nbsp; 17445 |

---

------

Touchstone Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 41.4% (Continued)** |  |
|  | &nbsp;&nbsp;**Energy — 4.2% (Continued)** |  |
| $176056 | &nbsp;&nbsp;MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31 | $150752 |
| &nbsp;&nbsp; 198000 | &nbsp;&nbsp;Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29 | &nbsp;&nbsp; 198913 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Murphy Oil Corp., 6.000%, 10/1/32 | &nbsp;&nbsp; 11826 |
| &nbsp;&nbsp; 148000 | &nbsp;&nbsp;NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | &nbsp;&nbsp; 170830 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;Noble Finance II LLC, 144a, 8.000%, 4/15/30 | &nbsp;&nbsp; 2070 |
| &nbsp;&nbsp; 125000 | &nbsp;&nbsp;Occidental Petroleum Corp., 7.950%, 6/15/39 | &nbsp;&nbsp; 146516 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Parkland Corp. (Canada), 144a, 4.500%, 10/1/29 | &nbsp;&nbsp; 20460 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Parkland Corp. (Canada), 144a, 6.625%, 8/15/32 | &nbsp;&nbsp; 6162 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Prairie Acquiror LP, 144a, 9.000%, 8/1/29<sup>†</sup> | &nbsp;&nbsp; 12462 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;Precision Drilling Corp. (Canada), 144a, 6.875%, 1/15/29 | &nbsp;&nbsp; 19103 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Rockies Express Pipeline LLC, 144a, 7.500%, 7/15/38 | &nbsp;&nbsp; 6398 |
| &nbsp;&nbsp; 206000 | &nbsp;&nbsp;Sempra Infrastructure Partners LP, 144a, 3.250%, 1/15/32 | &nbsp;&nbsp; 182718 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;SESI LLC, 144a, 7.875%, 9/30/30 | &nbsp;&nbsp; 14992 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;SM Energy Co., 144a, 6.750%, 8/1/29 | &nbsp;&nbsp; 6029 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;SM Energy Co., 144a, 7.000%, 8/1/32 | &nbsp;&nbsp; 10005 |
| &nbsp;&nbsp; 2000 | &nbsp;&nbsp;Sunoco LP, 144a, 5.625%, 3/15/31 | &nbsp;&nbsp; 1986 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Sunoco LP, 144a, 5.875%, 3/15/34 | &nbsp;&nbsp; 9914 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144a, 7.375%, 2/15/29 | &nbsp;&nbsp; 16477 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Tidewater, Inc., 144a, 9.125%, 7/15/30 | &nbsp;&nbsp; 16106 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Valaris Ltd., 144a, 8.375%, 4/30/30 | &nbsp;&nbsp; 11396 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;Venture Global Calcasieu Pass LLC, 144a, 6.250%, 1/15/30 | &nbsp;&nbsp; 9382 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 7.000%, 1/15/30 | &nbsp;&nbsp; 10335 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 9.000%<sup>(B)</sup> | &nbsp;&nbsp; 16848 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Weatherford International Ltd., 144a, 6.750%, 10/15/33 | &nbsp;&nbsp; 5004 |
| &nbsp;&nbsp; 151000 | &nbsp;&nbsp;Western Midstream Operating LP, 5.250%, 2/1/50 | &nbsp;&nbsp; 131383 |
|  |  | &nbsp;&nbsp; 2104938 |
|  | &nbsp;&nbsp;**Consumer Staples — 3.9%** |  |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;ACCO Brands Corp., 144a, 4.250%, 3/15/29 | &nbsp;&nbsp; 11741 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Allied Universal Holdco LLC, 144a, 7.875%, 2/15/31 | &nbsp;&nbsp; 12584 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;AMN Healthcare, Inc., 144a, 4.625%, 10/1/27 | &nbsp;&nbsp; 16993 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;AMN Healthcare, Inc., 144a, 6.500%, 1/15/31 | &nbsp;&nbsp; 9032 |
| &nbsp;&nbsp; 93000 | &nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.900%, 2/1/46 | &nbsp;&nbsp; 87092 |
| &nbsp;&nbsp; 152000 | &nbsp;&nbsp;Ashtead Capital, Inc. (United Kingdom), 144a, 4.000%, 5/1/28 | &nbsp;&nbsp; 150730 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.000%, 2/15/31 | &nbsp;&nbsp; 8276 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.250%, 1/15/30 | &nbsp;&nbsp; 6224 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.375%, 6/15/32 | &nbsp;&nbsp; 4184 |
| &nbsp;&nbsp; 138000 | &nbsp;&nbsp;BAT Capital Corp. (United Kingdom), 2.259%, 3/25/28 | &nbsp;&nbsp; 131867 |
| &nbsp;&nbsp; 116000 | &nbsp;&nbsp;Cargill, Inc., 144a, 4.760%, 11/23/45 | &nbsp;&nbsp; 106816 |
| &nbsp;&nbsp; 225000 | &nbsp;&nbsp;Coca-Cola Co. (The), 2.500%, 3/15/51 | &nbsp;&nbsp; 137514 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Coty, Inc. /HFC Prestige Products, Inc./HFC Prestige International US LLC, 144a, 6.625%, 7/15/30 | &nbsp;&nbsp; 4079 |
| &nbsp;&nbsp; 118000 | &nbsp;&nbsp;ERAC USA Finance LLC, 144a, 4.200%, 11/1/46 | &nbsp;&nbsp; 99363 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Gap, Inc. (The), 144a, 3.875%, 10/1/31 | &nbsp;&nbsp; 19082 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 5.500%, 7/15/27 | &nbsp;&nbsp; 15960 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 6.625%, 6/15/29 | &nbsp;&nbsp; 6165 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 7.000%, 6/15/30 | &nbsp;&nbsp; 8309 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Ingles Markets, Inc., 144a, 4.000%, 6/15/31<sup>†</sup> | &nbsp;&nbsp; 13148 |
| &nbsp;&nbsp; 107000 | &nbsp;&nbsp;Kroger Co. (The), 5.000%, 4/15/42 | &nbsp;&nbsp; 101586 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Mars, Inc., 144a, 3.600%, 4/1/34 | &nbsp;&nbsp; 32065 |
| &nbsp;&nbsp; 154000 | &nbsp;&nbsp;Mars, Inc., 144a, 5.200%, 3/1/35 | &nbsp;&nbsp; 157413 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Performance Food Group, Inc., 144a, 6.125%, 9/15/32 | &nbsp;&nbsp; 10243 |
| &nbsp;&nbsp; 220000 | &nbsp;&nbsp;Pernod Ricard International Finance LLC, 144a, 1.625%, 4/1/31 | &nbsp;&nbsp; 189499 |
| &nbsp;&nbsp; 188000 | &nbsp;&nbsp;Philip Morris International, Inc., 5.375%, 2/15/33 | &nbsp;&nbsp; 196255 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 41.4% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 3.9% (Continued)** |  |
| $9000 | &nbsp;&nbsp;Post Holdings, Inc., 144a, 4.625%, 4/15/30 | $8677 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Post Holdings, Inc., 144a, 6.250%, 10/15/34 | &nbsp;&nbsp; 17137 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;S&S Holdings LLC, 144a, 8.375%, 10/1/31 | &nbsp;&nbsp; 7804 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 144a, 6.750%, 8/15/32 | &nbsp;&nbsp; 10339 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 144a, 4.625%, 3/1/29 | &nbsp;&nbsp; 23963 |
| &nbsp;&nbsp; 83000 | &nbsp;&nbsp;Starbucks Corp., 3.350%, 3/12/50 | &nbsp;&nbsp; 57548 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;Turning Point Brands, Inc., 144a, 7.625%, 3/15/32 | &nbsp;&nbsp; 41258 |
| &nbsp;&nbsp; 96000 | &nbsp;&nbsp;Tyson Foods, Inc., 5.400%, 3/15/29 | &nbsp;&nbsp; 99302 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;Velocity Vehicle Group LLC, 144a, 8.000%, 6/1/29 | &nbsp;&nbsp; 13057 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;VT Topco, Inc., 144a, 8.500%, 8/15/30 | &nbsp;&nbsp; 12211 |
| &nbsp;&nbsp; 99000 | &nbsp;&nbsp;Walmart, Inc., 4.500%, 9/9/52 | &nbsp;&nbsp; 88695 |
|  |  | &nbsp;&nbsp; 1916211 |
|  | &nbsp;&nbsp;**Information Technology — 3.2%** |  |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;Amentum Holdings, Inc., 144a, 7.250%, 8/1/32 | &nbsp;&nbsp; 3115 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;Amkor Technology, Inc., 144a, 5.875%, 10/1/33 | &nbsp;&nbsp; 13132 |
| &nbsp;&nbsp; 170000 | &nbsp;&nbsp;Apple, Inc., 4.650%, 2/23/46 | &nbsp;&nbsp; 158897 |
| &nbsp;&nbsp; 217000 | &nbsp;&nbsp;Broadcom, Inc., 4.150%, 11/15/30 | &nbsp;&nbsp; 216186 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Broadcom, Inc., 144a, 3.419%, 4/15/33 | &nbsp;&nbsp; 11106 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;CACI International, Inc., 144a, 6.375%, 6/15/33 | &nbsp;&nbsp; 4128 |
| &nbsp;&nbsp; 203000 | &nbsp;&nbsp;Cisco Systems, Inc., 4.850%, 2/26/29<sup>†</sup> | &nbsp;&nbsp; 208342 |
| &nbsp;&nbsp; 23000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 6.500%, 3/31/29 | &nbsp;&nbsp; 23201 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 8.250%, 6/30/32 | &nbsp;&nbsp; 22284 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Consensus Cloud Solutions, Inc., 144a, 6.000%, 10/15/26 | &nbsp;&nbsp; 20974 |
| &nbsp;&nbsp; 112000 | &nbsp;&nbsp;Dell International LLC / EMC Corp., 4.850%, 2/1/35 | &nbsp;&nbsp; 110222 |
| &nbsp;&nbsp; 182000 | &nbsp;&nbsp;Marvell Technology, Inc., 2.950%, 4/15/31 | &nbsp;&nbsp; 168139 |
| &nbsp;&nbsp; 102000 | &nbsp;&nbsp;Micron Technology, Inc., 2.703%, 4/15/32 | &nbsp;&nbsp; 90765 |
| &nbsp;&nbsp; 42000 | &nbsp;&nbsp;Micron Technology, Inc., 6.750%, 11/1/29 | &nbsp;&nbsp; 45647 |
| &nbsp;&nbsp; 210000 | &nbsp;&nbsp;Microsoft Corp., 2.525%, 6/1/50 | &nbsp;&nbsp; 132736 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Open Text Corp. (Canada), 144a, 3.875%, 12/1/29 | &nbsp;&nbsp; 10401 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Open Text Corp. (Canada), 144a, 3.875%, 2/15/28 | &nbsp;&nbsp; 10701 |
| &nbsp;&nbsp; 87000 | &nbsp;&nbsp;Oracle Corp., 2.650%, 7/15/26 | &nbsp;&nbsp; 85982 |
| &nbsp;&nbsp; 61000 | &nbsp;&nbsp;Oracle Corp., 3.600%, 4/1/40 | &nbsp;&nbsp; 48982 |
| &nbsp;&nbsp; 48000 | &nbsp;&nbsp;Oracle Corp., 4.300%, 7/8/34 | &nbsp;&nbsp; 45925 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Science Applications International Corp., 144a, 5.875%, 11/1/33 | &nbsp;&nbsp; 5006 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;SS&C Technologies, Inc., 144a, 5.500%, 9/30/27 | &nbsp;&nbsp; 7990 |
| &nbsp;&nbsp; 126000 | &nbsp;&nbsp;Texas Instruments, Inc., 5.100%, 5/23/35 | &nbsp;&nbsp; 129967 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;Zebra Technologies Corp., 144a, 6.500%, 6/1/32 | &nbsp;&nbsp; 3081 |
|  |  | &nbsp;&nbsp; 1576909 |
|  | &nbsp;&nbsp;**Health Care — 3.1%** |  |
| &nbsp;&nbsp; 142000 | &nbsp;&nbsp;AbbVie, Inc., 4.450%, 5/14/46 | &nbsp;&nbsp; 125606 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Acadia Healthcare Co., Inc., 144a, 5.000%, 4/15/29 | &nbsp;&nbsp; 5873 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Acadia Healthcare Co., Inc., 144a, 7.375%, 3/15/33 | &nbsp;&nbsp; 10379 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;AdaptHealth LLC, 144a, 4.625%, 8/1/29 | &nbsp;&nbsp; 7562 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;AdaptHealth LLC, 144a, 5.125%, 3/1/30 | &nbsp;&nbsp; 6675 |
| &nbsp;&nbsp; 118000 | &nbsp;&nbsp;Alcon Finance Corp. (Switzerland), 144a, 3.800%, 9/23/49 | &nbsp;&nbsp; 90814 |
| &nbsp;&nbsp; 152000 | &nbsp;&nbsp;Amgen, Inc., 5.150%, 3/2/28 | &nbsp;&nbsp; 155579 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Avantor Funding, Inc., 144a, 3.875%, 11/1/29 | &nbsp;&nbsp; 10461 |
| &nbsp;&nbsp; 133000 | &nbsp;&nbsp;Becton Dickinson & Co., 4.685%, 12/15/44 | &nbsp;&nbsp; 119028 |
| &nbsp;&nbsp; 132000 | &nbsp;&nbsp;CommonSpirit Health, 4.187%, 10/1/49 | &nbsp;&nbsp; 104646 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;Concentra Health Services, Inc., 144a, 6.875%, 7/15/32 | &nbsp;&nbsp; 3116 |
| &nbsp;&nbsp; 121000 | &nbsp;&nbsp;CVS Health Corp., 5.125%, 7/20/45 | &nbsp;&nbsp; 109780 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;DaVita, Inc., 144a, 6.750%, 7/15/33 | &nbsp;&nbsp; 6187 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;DaVita, Inc., 144a, 6.875%, 9/1/32 | &nbsp;&nbsp; 8264 |
| &nbsp;&nbsp; 147000 | &nbsp;&nbsp;DH Europe Finance II Sarl, 3.250%, 11/15/39 | &nbsp;&nbsp; 120442 |
| &nbsp;&nbsp; 136000 | &nbsp;&nbsp;Elevance Health, Inc., 4.750%, 2/15/33 | &nbsp;&nbsp; 136390 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;Global Medical Response, Inc., 144a, 7.375%, 10/1/32 | &nbsp;&nbsp; 18522 |

---

------

Touchstone Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 41.4% (Continued)** |  |
|  | &nbsp;&nbsp;**Health Care — 3.1% (Continued)** |  |
| $170000 | &nbsp;&nbsp;HCA, Inc., 5.500%, 3/1/32 | $177161 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Medline Borrower LP/Medline Co-Issuer, Inc., 144a, 6.250%, 4/1/29 | &nbsp;&nbsp; 5132 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 3.875%, 5/15/32 | &nbsp;&nbsp; 15427 |
| &nbsp;&nbsp; 4000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 6.250%, 1/15/33 | &nbsp;&nbsp; 4033 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;Option Care Health, Inc., 144a, 4.375%, 10/31/29 | &nbsp;&nbsp; 12537 |
| &nbsp;&nbsp; 23000 | &nbsp;&nbsp;Pediatrix Medical Group, Inc., 144a, 5.375%, 2/15/30 | &nbsp;&nbsp; 22848 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;Tenet Healthcare Corp., 6.125%, 10/1/28 | &nbsp;&nbsp; 19016 |
| &nbsp;&nbsp; 113000 | &nbsp;&nbsp;Thermo Fisher Scientific, Inc., 5.404%, 8/10/43 | &nbsp;&nbsp; 114148 |
| &nbsp;&nbsp; 156000 | &nbsp;&nbsp;UnitedHealth Group, Inc., 3.500%, 8/15/39 | &nbsp;&nbsp; 130137 |
|  |  | &nbsp;&nbsp; 1539763 |
|  | &nbsp;&nbsp;**Communication Services — 2.8%** |  |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;AMC Networks, Inc., 144a, 10.250%, 1/15/29 | &nbsp;&nbsp; 13699 |
| &nbsp;&nbsp; 100000 | &nbsp;&nbsp;AT&T, Inc., 3.800%, 12/1/57 | &nbsp;&nbsp; 71216 |
| &nbsp;&nbsp; 120000 | &nbsp;&nbsp;AT&T, Inc., 4.500%, 5/15/35 | &nbsp;&nbsp; 115939 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Block Communications, Inc., 144a, 4.875%, 3/1/28 | &nbsp;&nbsp; 4788 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Cable One, Inc., 144a, 4.000%, 11/15/30 | &nbsp;&nbsp; 10167 |
| &nbsp;&nbsp; 36000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 2/1/31 | &nbsp;&nbsp; 33164 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 5/1/32 | &nbsp;&nbsp; 11830 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 6.375%, 9/1/29 | &nbsp;&nbsp; 8110 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 7.375%, 3/1/31 | &nbsp;&nbsp; 18598 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.750%, 3/1/30 | &nbsp;&nbsp; 44149 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 1/15/34 | &nbsp;&nbsp; 6911 |
| &nbsp;&nbsp; 103000 | &nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/45 | &nbsp;&nbsp; 101658 |
| &nbsp;&nbsp; 122000 | &nbsp;&nbsp;Comcast Corp., 4.000%, 3/1/48 | &nbsp;&nbsp; 95284 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Directv Financing LLC, 144a, 8.875%, 2/1/30 | &nbsp;&nbsp; 10916 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;Directv Financing LLC / Directv Financing Co-Obligor, Inc., 144a, 10.000%, 2/15/31 | &nbsp;&nbsp; 21965 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;GCI LLC, 144a, 4.750%, 10/15/28 | &nbsp;&nbsp; 8746 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Gen Digital, Inc., 144a, 6.750%, 9/30/27 | &nbsp;&nbsp; 14212 |
| &nbsp;&nbsp; 8980 | &nbsp;&nbsp;Level 3 Financing, Inc., 144a, 6.875%, 6/30/33 | &nbsp;&nbsp; 9153 |
| &nbsp;&nbsp; 12488 | &nbsp;&nbsp;Level 3 Financing, Inc., 144a, 7.000%, 3/31/34 | &nbsp;&nbsp; 12731 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;Midcontinent Communications, 144a, 8.000%, 8/15/32 | &nbsp;&nbsp; 7212 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Nexstar Media, Inc., 144a, 5.625%, 7/15/27 | &nbsp;&nbsp; 15979 |
| &nbsp;&nbsp; 161000 | &nbsp;&nbsp;Rogers Communications, Inc. (Canada), 5.300%, 2/15/34 | &nbsp;&nbsp; 163334 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;Sinclair Television Group, Inc., 144a, 8.125%, 2/15/33 | &nbsp;&nbsp; 3085 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Sirius XM Radio LLC, 144a, 4.000%, 7/15/28 | &nbsp;&nbsp; 10621 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;Stagwell Global LLC, 144a, 5.625%, 8/15/29 | &nbsp;&nbsp; 2914 |
| &nbsp;&nbsp; 168000 | &nbsp;&nbsp;T-Mobile USA, Inc., 3.875%, 4/15/30 | &nbsp;&nbsp; 164747 |
| &nbsp;&nbsp; 74000 | &nbsp;&nbsp;T-Mobile USA, Inc., 5.750%, 1/15/54 | &nbsp;&nbsp; 74030 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Univision Communications, Inc., 144a, 8.000%, 8/15/28 | &nbsp;&nbsp; 8289 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;Univision Communications, Inc., 144a, 8.500%, 7/31/31<sup>†</sup> | &nbsp;&nbsp; 18587 |
| &nbsp;&nbsp; 170000 | &nbsp;&nbsp;Verizon Communications, Inc., 2.987%, 10/30/56 | &nbsp;&nbsp; 104731 |
| &nbsp;&nbsp; 176000 | &nbsp;&nbsp;Videotron Ltd. (Canada), 144a, 3.625%, 6/15/29 | &nbsp;&nbsp; 170672 |
| &nbsp;&nbsp; 24000 | &nbsp;&nbsp;Ziff Davis, Inc., 144a, 4.625%, 10/15/30 | &nbsp;&nbsp; 22622 |
|  |  | &nbsp;&nbsp; 1380059 |
|  | &nbsp;&nbsp;**Utilities — 2.6%** |  |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;Algonquin Power & Utilities Corp. (Canada), 4.750%, 1/18/82 | &nbsp;&nbsp; 26472 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;AltaGas Ltd. (Canada), 144a, 7.200%, 10/15/54 | &nbsp;&nbsp; 16551 |
| &nbsp;&nbsp; 88000 | &nbsp;&nbsp;Calpine Corp., 144a, 5.000%, 2/1/31 | &nbsp;&nbsp; 87740 |
| &nbsp;&nbsp; 220000 | &nbsp;&nbsp;CMS Energy Corp., 4.750%, 6/1/50 | &nbsp;&nbsp; 214524 |
| &nbsp;&nbsp; 178000 | &nbsp;&nbsp;Duke Energy Progress LLC, 4.150%, 12/1/44 | &nbsp;&nbsp; 150990 |
| &nbsp;&nbsp; 104000 | &nbsp;&nbsp;Edison International, 4.125%, 3/15/28 | &nbsp;&nbsp; 102105 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 41.4% (Continued)** |  |
|  | &nbsp;&nbsp;**Utilities — 2.6% (Continued)** |  |
| $34000 | &nbsp;&nbsp;Edison International, 7.875%, 6/15/54 | $34685 |
| &nbsp;&nbsp; 106000 | &nbsp;&nbsp;Electricite de France SA (France), 144a, 4.875%, 9/21/38 | &nbsp;&nbsp; 99855 |
| &nbsp;&nbsp; 67000 | &nbsp;&nbsp;Georgia Power Co., 5.950%, 2/1/39 | &nbsp;&nbsp; 70328 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp., 5.250%, 4/20/46 | &nbsp;&nbsp; 11969 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp., (TSFR3M + 3.172%), 7.482%, 4/30/43<sup>(A)</sup> | &nbsp;&nbsp; 8955 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;NextEra Energy Capital Holdings, Inc., (TSFR3M + 2.329%), 6.314%, 10/1/66<sup>(A)</sup> | &nbsp;&nbsp; 13823 |
| &nbsp;&nbsp; 170000 | &nbsp;&nbsp;Ohio Power Co., Ser R, 2.900%, 10/1/51 | &nbsp;&nbsp; 105800 |
| &nbsp;&nbsp; 176000 | &nbsp;&nbsp;Oncor Electric Delivery Co. LLC, 144a, 5.800%, 4/1/55 | &nbsp;&nbsp; 181265 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;PacifiCorp, 7.375%, 9/15/55 | &nbsp;&nbsp; 17921 |
| &nbsp;&nbsp; 64000 | &nbsp;&nbsp;PacifiCorp., 5.750%, 4/1/37 | &nbsp;&nbsp; 66119 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;PPL Capital Funding, Inc., Ser A, (TSFR3M + 2.927%), 6.928%, 3/30/67<sup>(A)</sup> | &nbsp;&nbsp; 15876 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Sempra, 4.125%, 4/1/52 | &nbsp;&nbsp; 27325 |
| &nbsp;&nbsp; 31000 | &nbsp;&nbsp;South Jersey Industries, Inc., 5.020%, 4/15/31 | &nbsp;&nbsp; 26615 |
|  |  | &nbsp;&nbsp; 1278918 |
|  | &nbsp;&nbsp;**Real Estate — 1.7%** |  |
| &nbsp;&nbsp; 212000 | &nbsp;&nbsp;American Tower Corp. REIT, 5.900%, 11/15/33 | &nbsp;&nbsp; 227246 |
| &nbsp;&nbsp; 181000 | &nbsp;&nbsp;Crown Castle, Inc. REIT, 4.800%, 9/1/28 | &nbsp;&nbsp; 183565 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;CTR Partnership LP / CareTrust Capital Corp. REIT, 144a, 3.875%, 6/30/28 | &nbsp;&nbsp; 9727 |
| &nbsp;&nbsp; 182000 | &nbsp;&nbsp;Invitation Homes Operating Partnership LP REIT, 4.150%, 4/15/32 | &nbsp;&nbsp; 175946 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;MPT Operating Partnership LP / MPT Finance Corp. REIT, 144a, 8.500%, 2/15/32 | &nbsp;&nbsp; 11689 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer REIT, 144a, 4.875%, 5/15/29 | &nbsp;&nbsp; 11699 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer REIT, 144a, 7.000%, 2/1/30 | &nbsp;&nbsp; 6186 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;RHP Hotel Properties LP / RHP Finance Corp. REIT, 4.750%, 10/15/27 | &nbsp;&nbsp; 9956 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;RLJ Lodging Trust LP REIT, 144a, 3.750%, 7/1/26 | &nbsp;&nbsp; 18810 |
| &nbsp;&nbsp; 60000 | &nbsp;&nbsp;Store Capital LLC REIT, 2.700%, 12/1/31 | &nbsp;&nbsp; 52539 |
| &nbsp;&nbsp; 34000 | &nbsp;&nbsp;Store Capital LLC REIT, 2.750%, 11/18/30 | &nbsp;&nbsp; 30916 |
| &nbsp;&nbsp; 95000 | &nbsp;&nbsp;Store Capital LLC REIT, 4.625%, 3/15/29 | &nbsp;&nbsp; 94384 |
| &nbsp;&nbsp; 3000 | &nbsp;&nbsp;XHR LP REIT, 144a, 4.875%, 6/1/29 | &nbsp;&nbsp; 2939 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;XHR LP REIT, 144a, 6.625%, 5/15/30 | &nbsp;&nbsp; 8220 |
|  |  | &nbsp;&nbsp; 843822 |
|  | &nbsp;&nbsp;**Materials — 0.6%** |  |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Celanese US Holdings LLC, 6.879%, 7/15/32 | &nbsp;&nbsp; 10219 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Celanese US Holdings LLC, 7.200%, 11/15/33 | &nbsp;&nbsp; 15578 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Magnera Corp., 144a, 7.250%, 11/15/31 | &nbsp;&nbsp; 15056 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;NOVA Chemicals Corp. (Canada), 144a, 8.500%, 11/15/28 | &nbsp;&nbsp; 12558 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Novelis Corp., 144a, 4.750%, 1/30/30 | &nbsp;&nbsp; 24120 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;Novelis Corp., 144a, 6.875%, 1/30/30 | &nbsp;&nbsp; 17628 |
| &nbsp;&nbsp; 88000 | &nbsp;&nbsp;Rio Tinto Finance USA PLC (Australia), 5.250%, 3/14/35 | &nbsp;&nbsp; 90629 |
| &nbsp;&nbsp; 151000 | &nbsp;&nbsp;Sherwin-Williams Co. (The), 4.500%, 6/1/47 | &nbsp;&nbsp; 130288 |
|  |  | &nbsp;&nbsp; 316076 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | $20534915 |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 28.5%** | &nbsp;&nbsp;**U.S. Treasury Obligations — 28.5%** |
| &nbsp;&nbsp;1080000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.250%, 8/15/54 | &nbsp;&nbsp; 996173 |
| &nbsp;&nbsp;2795000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 2/15/45 | &nbsp;&nbsp; 2809849 |
| &nbsp;&nbsp; 175000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 8/15/55 | &nbsp;&nbsp; 175465 |
| &nbsp;&nbsp; 803652 | &nbsp;&nbsp;U.S. Treasury Inflation Indexed Notes, 2.375%, 2/15/55 | &nbsp;&nbsp; 783281 |
| &nbsp;&nbsp;4275000 | &nbsp;&nbsp;U.S. Treasury Note, 3.750%, 4/15/28 | &nbsp;&nbsp; 4288860 |
| &nbsp;&nbsp;1950000 | &nbsp;&nbsp;U.S. Treasury Note, 4.000%, 5/31/30 | &nbsp;&nbsp; 1973309 |
| &nbsp;&nbsp;3065000 | &nbsp;&nbsp;U.S. Treasury Note, 4.250%, 8/15/35 | &nbsp;&nbsp; 3089903 |
|  | &nbsp;&nbsp;**Total U.S. Treasury Obligations** | $14116840 |

---

------

Touchstone Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 7.7%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 7.7%** |
| $675000 | &nbsp;&nbsp;BANK, Ser 2018-BN14, Class A3, 3.966%, 9/15/60 | $669203 |
| &nbsp;&nbsp; 285000 | &nbsp;&nbsp;BANK, Ser 2020-BN26, Class A4, 2.403%, 3/15/63 | &nbsp;&nbsp; 259829 |
| &nbsp;&nbsp; 365000 | &nbsp;&nbsp;BANK, Ser 2022-BNK39, Class A4, 2.928%, 2/15/55<sup>(A)(C)</sup> | &nbsp;&nbsp; 331287 |
| &nbsp;&nbsp; 110000 | &nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2024-5C27, Class AS, 6.410%, 7/15/57<sup>(A)(C)</sup> | &nbsp;&nbsp; 115553 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;BMO Mortgage Trust, Ser 2025-5C10, Class B, 6.445%, 5/15/58<sup>(A)(C)</sup> | &nbsp;&nbsp; 208872 |
| &nbsp;&nbsp; 65000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class AS, 3.789%, 9/15/50<sup>(A)(C)</sup> | &nbsp;&nbsp; 61154 |
| &nbsp;&nbsp; 250000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2020-GC46, Class A5, 2.717%, 2/15/53 | &nbsp;&nbsp; 231257 |
| &nbsp;&nbsp; 250000 | &nbsp;&nbsp;GS Mortgage Securities Trust, Ser 2017-FARM, Class B, 144a, 3.659%, 1/10/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 224494 |
| &nbsp;&nbsp; 210000 | &nbsp;&nbsp;HONO Mortgage Trust, Ser 2021-LULU, Class B, 144a, (TSFR1M + 1.564%), 5.715%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 207847 |
| &nbsp;&nbsp; 350000 | &nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2017-JP7, Class A5, 3.454%, 9/15/50 | &nbsp;&nbsp; 343621 |
| &nbsp;&nbsp; 105000 | &nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47 | &nbsp;&nbsp; 101850 |
| &nbsp;&nbsp; 350000 | &nbsp;&nbsp;JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2018-MINN, Class A, 144a, (TSFR1M + 1.317%), 5.467%, 11/15/35<sup>(A)</sup> | &nbsp;&nbsp; 333094 |
| &nbsp;&nbsp; 355000 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2018-H3, Class A5, 4.177%, 7/15/51 | &nbsp;&nbsp; 352778 |
| &nbsp;&nbsp; 70000 | &nbsp;&nbsp;UBS Commercial Mortgage Trust, Ser 2017-C1, Class AS, 3.724%, 6/15/50 | &nbsp;&nbsp; 68359 |
| &nbsp;&nbsp; 80000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2015-P2, Class AS, 4.013%, 12/15/48 | &nbsp;&nbsp; 79633 |
| &nbsp;&nbsp; 220000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2025-5C4, Class B, 6.394%, 5/15/58<sup>(A)(C)</sup> | &nbsp;&nbsp; 229838 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** | &nbsp;&nbsp; $3818669 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.7%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.7%** |
| &nbsp;&nbsp; 22826 | &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2013-1, Class B3, 144a, 3.560%, 7/25/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 22229 |
| &nbsp;&nbsp; 109526 | &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2015-4, Class B2, 144a, 3.484%, 6/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 107464 |
| &nbsp;&nbsp; 200184 | &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2015-7, Class B1, 144a, 3.630%, 10/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 191687 |
| &nbsp;&nbsp; 216108 | &nbsp;&nbsp;COLT Mortgage Loan Trust, Ser 2022-6, Class A1, 144a, 4.650%, 6/27/67<sup>(A)(C)</sup> | &nbsp;&nbsp; 215273 |
| &nbsp;&nbsp; 64215 | &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR3, Class B2, 144a, 3.397%, 5/25/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 63257 |
| &nbsp;&nbsp; 149292 | &nbsp;&nbsp;CSMC Trust, Ser 2015-1, Class B3, 144a, 3.891%, 1/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 144352 |
| &nbsp;&nbsp; 84196 | &nbsp;&nbsp;CSMC Trust, Ser 2015-WIN1, Class B3, 144a, 3.763%, 12/25/44<sup>(A)(C)</sup> | &nbsp;&nbsp; 81454 |
| &nbsp;&nbsp; 256955 | &nbsp;&nbsp;Deephaven Residential Mortgage Trust, Ser 2022-2, Class A1, 144a, 4.300%, 3/25/67<sup>(A)(C)</sup> | &nbsp;&nbsp; 251130 |
| &nbsp;&nbsp; 32 | &nbsp;&nbsp;Deutsche ALT-A Securities, Inc. ALT, Ser 2003-2XS, Class A6, 5.470%, 9/25/33<sup>(A)(C)</sup> | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp; 351294 | &nbsp;&nbsp;EverBank Mortgage Loan Trust, Ser 2018-1, Class B2, 144a, 3.560%, 2/25/48<sup>(A)(C)</sup> | &nbsp;&nbsp; 322455 |
| &nbsp;&nbsp; 195851 | &nbsp;&nbsp;GCAT Trust, Ser 2022-NQM2, Class A1, 144a, 4.210%, 2/25/67<sup>(A)(C)</sup> | &nbsp;&nbsp; 195144 |
| &nbsp;&nbsp; 268398 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2018-8, Class B3, 144a, 4.028%, 1/25/49<sup>(A)(C)</sup> | &nbsp;&nbsp; 247500 |
| &nbsp;&nbsp; 189993 | &nbsp;&nbsp;Mello Mortgage Capital Acceptance, Ser 2021-MTG3, Class A9, 144a, 2.500%, 7/1/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 171593 |
| &nbsp;&nbsp; 289383 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2018-3, Class M3, 144a, 3.250%, 8/25/58<sup>(A)(C)</sup> | &nbsp;&nbsp; 261465 |
| &nbsp;&nbsp; 76023 | &nbsp;&nbsp;Residential Asset Securitization Trust, Ser 2006-A1, Class 1A3, 6.000%, 4/25/36 | &nbsp;&nbsp; 32125 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.7%<br> (Continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.7%<br> (Continued)** |
| $28844 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-10, Class B2, 144a, 3.536%, 8/25/43<sup>(A)(C)</sup> | $28162 |
| &nbsp;&nbsp; 42739 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-5, Class B1, 144a, 3.488%, 5/25/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 41814 |
| &nbsp;&nbsp; 387067 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2018-CH3, Class B1B, 144a, 4.710%, 8/25/48<sup>(A)(C)</sup> | &nbsp;&nbsp; 375957 |
| &nbsp;&nbsp; 350780 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2018-CH3, Class B2B, 144a, 4.710%, 8/25/48<sup>(A)(C)</sup> | &nbsp;&nbsp; 340711 |
| &nbsp;&nbsp; 240732 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-S1, Class A4, 144a, 2.500%, 9/25/54<sup>(A)(C)</sup> | &nbsp;&nbsp; 213959 |
| &nbsp;&nbsp; 19135 | &nbsp;&nbsp;Washington Mutual Mortgage Pass-Through Certificates, Ser 2005-9, Class 2A4, 5.500%, 11/25/35 | &nbsp;&nbsp; 17777 |
|  | &nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp; $3325539 |
|  | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 5.4%** | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 5.4%** |
| &nbsp;&nbsp; 33105 | &nbsp;&nbsp;FHLMC, Pool #A95946, 4.000%, 1/1/41 | &nbsp;&nbsp; 32318 |
| &nbsp;&nbsp; 18734 | &nbsp;&nbsp;FHLMC, Pool #A96485, 4.500%, 1/1/41 | &nbsp;&nbsp; 18785 |
| &nbsp;&nbsp; 7009 | &nbsp;&nbsp;FHLMC, Pool #G03217, 5.500%, 9/1/37 | &nbsp;&nbsp; 7254 |
| &nbsp;&nbsp; 2774 | &nbsp;&nbsp;FHLMC, Pool #G03781, 6.000%, 1/1/38 | &nbsp;&nbsp; 2926 |
| &nbsp;&nbsp; 460581 | &nbsp;&nbsp;FHLMC REMIC, Pool #QD2143, 2.000%, 12/1/51 | &nbsp;&nbsp; 373954 |
| &nbsp;&nbsp; 1741 | &nbsp;&nbsp;FNMA, Pool #561741, 7.500%, 1/1/31 | &nbsp;&nbsp; 1791 |
| &nbsp;&nbsp; 104043 | &nbsp;&nbsp;FNMA, Pool #725423, 5.500%, 5/1/34 | &nbsp;&nbsp; 106831 |
| &nbsp;&nbsp; 92311 | &nbsp;&nbsp;FNMA, Pool #725610, 5.500%, 7/1/34 | &nbsp;&nbsp; 94540 |
| &nbsp;&nbsp; 2583 | &nbsp;&nbsp;FNMA, Pool #889734, 5.500%, 6/1/37 | &nbsp;&nbsp; 2688 |
| &nbsp;&nbsp; 17608 | &nbsp;&nbsp;FNMA, Pool #AB1149, 5.000%, 6/1/40 | &nbsp;&nbsp; 18040 |
| &nbsp;&nbsp; 16601 | &nbsp;&nbsp;FNMA, Pool #AB1800, 4.000%, 11/1/40 | &nbsp;&nbsp; 16207 |
| &nbsp;&nbsp; 28983 | &nbsp;&nbsp;FNMA, Pool #AD3795, 4.500%, 4/1/40 | &nbsp;&nbsp; 29100 |
| &nbsp;&nbsp; 35380 | &nbsp;&nbsp;FNMA, Pool #AD9150, 5.000%, 8/1/40 | &nbsp;&nbsp; 36248 |
| &nbsp;&nbsp; 74459 | &nbsp;&nbsp;FNMA, Pool #AD9193, 5.000%, 9/1/40 | &nbsp;&nbsp; 76285 |
| &nbsp;&nbsp; 48477 | &nbsp;&nbsp;FNMA, Pool #AE0548, 4.500%, 11/1/40 | &nbsp;&nbsp; 48562 |
| &nbsp;&nbsp; 38615 | &nbsp;&nbsp;FNMA, Pool #AE4429, 4.000%, 10/1/40 | &nbsp;&nbsp; 37747 |
| &nbsp;&nbsp; 56 | &nbsp;&nbsp;FNMA, Pool #AH2666, 4.000%, 1/1/26 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp; 149 | &nbsp;&nbsp;FNMA, Pool #AH3493, 4.000%, 2/1/26 | &nbsp;&nbsp; 149 |
| &nbsp;&nbsp; 63671 | &nbsp;&nbsp;FNMA, Pool #AL0054, 4.500%, 2/1/41 | &nbsp;&nbsp; 63763 |
| &nbsp;&nbsp; 181876 | &nbsp;&nbsp;FNMA, Pool #AR9195, 3.000%, 3/1/43 | &nbsp;&nbsp; 167403 |
| &nbsp;&nbsp; 153954 | &nbsp;&nbsp;FNMA, Pool #AT2016, 3.000%, 4/1/43 | &nbsp;&nbsp; 141621 |
| &nbsp;&nbsp; 123016 | &nbsp;&nbsp;FNMA, Pool #BC1158, 3.500%, 2/1/46 | &nbsp;&nbsp; 115085 |
| &nbsp;&nbsp; 262407 | &nbsp;&nbsp;FNMA, Pool #FM4996, 2.000%, 12/1/50 | &nbsp;&nbsp; 214997 |
| &nbsp;&nbsp; 133822 | &nbsp;&nbsp;FNMA, Pool #FM5468, 2.500%, 1/1/36 | &nbsp;&nbsp; 126540 |
| &nbsp;&nbsp; 230354 | &nbsp;&nbsp;FNMA, Pool #FM5682, 2.500%, 1/1/51 | &nbsp;&nbsp; 196329 |
| &nbsp;&nbsp; 68881 | &nbsp;&nbsp;FNMA, Pool #MA1175, 3.000%, 9/1/42 | &nbsp;&nbsp; 63442 |
| &nbsp;&nbsp; 36918 | &nbsp;&nbsp;FNMA, Pool #MA2177, 4.000%, 2/1/35 | &nbsp;&nbsp; 36611 |
| &nbsp;&nbsp; 240600 | &nbsp;&nbsp;FNMA, Pool #MA4166, 3.000%, 10/1/40 | &nbsp;&nbsp; 224240 |
| &nbsp;&nbsp; 54230 | &nbsp;&nbsp;GNMA, Pool #4853, 4.000%, 11/20/40 | &nbsp;&nbsp; 53348 |
| &nbsp;&nbsp; 42113 | &nbsp;&nbsp;GNMA, Pool #4883, 4.500%, 12/20/40 | &nbsp;&nbsp; 42395 |
| &nbsp;&nbsp; 165961 | &nbsp;&nbsp;GNMA, Pool #5175, 4.500%, 9/20/41 | &nbsp;&nbsp; 167073 |
| &nbsp;&nbsp; 12411 | &nbsp;&nbsp;GNMA, Pool #736696, 4.500%, 5/15/40 | &nbsp;&nbsp; 12312 |
| &nbsp;&nbsp; 101331 | &nbsp;&nbsp;GNMA, Pool #AD1745, 3.000%, 2/20/43 | &nbsp;&nbsp; 90822 |
| &nbsp;&nbsp; 62567 | &nbsp;&nbsp;GNMA, Pool #MA1157, 3.500%, 7/20/43 | &nbsp;&nbsp; 59264 |
|  | &nbsp;&nbsp;**Total U.S. Government Mortgage-Backed Obligations** | &nbsp;&nbsp; $2678725 |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 3.6%** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 3.6%** |
| &nbsp;&nbsp; 230000 | &nbsp;&nbsp;FHLMC REMIC, Ser 4991, Class HB, 2.000%, 7/25/50 | &nbsp;&nbsp; 167965 |
| &nbsp;&nbsp; 725000 | &nbsp;&nbsp;FHLMC REMIC, Ser 5178, Class CV, 2.000%, 11/25/40 | &nbsp;&nbsp; 542306 |
| &nbsp;&nbsp; 5538 | &nbsp;&nbsp;FNMA REMIC, Ser 2015-51, Class KC, 3.000%, 6/25/45 | &nbsp;&nbsp; 5342 |
| &nbsp;&nbsp; 155790 | &nbsp;&nbsp;FNMA REMIC, Ser 2017-90, Class KA, 3.000%, 11/25/47 | &nbsp;&nbsp; 147218 |
| &nbsp;&nbsp; 450000 | &nbsp;&nbsp;FNMA REMIC, Ser 2019-35, Class KB, 3.000%, 7/25/49 | &nbsp;&nbsp; 373921 |
| &nbsp;&nbsp; 675000 | &nbsp;&nbsp;FNMA REMIC, Ser 2022-16, Class KB, 2.500%, 11/25/49 | &nbsp;&nbsp; 525070 |
|  | &nbsp;&nbsp;**Total Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp; $1761822 |

---

------

Touchstone Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 3.0%** | &nbsp;&nbsp;**Asset-Backed Securities — 3.0%** |
| $175000 | &nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2025-2, Class D, 4.900%, 12/15/32 | $174901 |
| &nbsp;&nbsp; 91083 | &nbsp;&nbsp;Elara HGV Timeshare Issuer LLC, Ser 2019-A, Class B, 144a, 2.910%, 1/25/34 | &nbsp;&nbsp; 90140 |
| &nbsp;&nbsp; 279000 | &nbsp;&nbsp;Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | &nbsp;&nbsp; 271179 |
| &nbsp;&nbsp; 145000 | &nbsp;&nbsp;Jimmy Johns Funding LLC, Ser 2017-1A, Class A2II, 144a, 4.846%, 7/30/47 | &nbsp;&nbsp; 144407 |
| &nbsp;&nbsp; 290250 | &nbsp;&nbsp;Jimmy Johns Funding LLC, Ser 2022-1A, Class A2I, 144a, 4.077%, 4/30/52 | &nbsp;&nbsp; 286317 |
| &nbsp;&nbsp; 384000 | &nbsp;&nbsp;Madison Park Funding XLIX Ltd. (Cayman Islands), Ser 2021-49A, Class B1R, 144a, (TSFR3M + 1.450%), 5.775%, 10/19/34<sup>(A)</sup> | &nbsp;&nbsp; 383015 |
| &nbsp;&nbsp; 156750 | &nbsp;&nbsp;TAL Advantage VII LLC, Ser 2020-1A, Class A, 144a, 2.050%, 9/20/45 | &nbsp;&nbsp; 149006 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | &nbsp;&nbsp; $1498965 |
|  | &nbsp;&nbsp;**Sovereign Government Obligations — 0.4%** | &nbsp;&nbsp;**Sovereign Government Obligations — 0.4%** |
| &nbsp;&nbsp; 150000 | &nbsp;&nbsp;Chile Government International Bond, 3.100%, 1/22/61 | &nbsp;&nbsp; 92715 |
| &nbsp;&nbsp; 103000 | &nbsp;&nbsp;Republic of Poland Government International Bond, 5.500%, 3/18/54 | &nbsp;&nbsp; 99562 |
|  | &nbsp;&nbsp;**Total Sovereign Government Obligations** | &nbsp;&nbsp;&nbsp;&nbsp; $192277 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 3.1%** |  |
| 1460408 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 1460408 |
| &nbsp;&nbsp;&nbsp;&nbsp;56613 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 4.05%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 56613 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp; $1517021 |
|  | &nbsp;&nbsp;**Total Investment Securities—99.8%<br> (Cost $50,509,468)** | $49444773 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 0.2%** | &nbsp;&nbsp; 118553 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $49563326 |

---

---

| | |
|:---|:---|
| *(A)* | *Variable rate security - Rate reflected is the rate in effect as of September 30, 2025.* |
| *(B)* | *Perpetual Bond - A bond or preferred stock with no definite maturity date.* |
| *(C)* | *Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of September 30, 2025 was $54,622.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *DAC – Designated Activity Company* |
| *FHLMC – Federal Home Loan Mortgage Corporation* |
| *FNMA – Federal National Mortgage Association* |
| *GNMA – Government National Mortgage Association* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *MTN – Medium Term Note* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *REMIC – Real Estate Mortgage Investment Conduit* |
| *TSFR1M – One Month Term Secured Overnight Financing Rate* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2025, these securities were valued at $12,531,143 or 25.3% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| ***Assets:*** |  |  |  |  |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$20534915* | *$—* | *$20534915* |
| *U.S. Treasury Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*14116840* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*14116840* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*3818669* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*3818669* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*3325539* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*3325539* |
| *U.S. Government Mortgage-Backed Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2678725* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2678725* |
| *Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1761822* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1761822* |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1498965* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1498965* |
| *Sovereign Government Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*192277* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*192277* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;*1517021* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1517021* |
| ***Other Financial Instruments*** |  |  |  |  |
| *Futures* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Interest rate contracts* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3159* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3159* |
| *Total Assets* | *$1520180* | *$47927752* | *$—* | *$49447932* |
| ***Liabilities:*** |  |  |  |  |
| ***Other Financial Instruments*** |  |  |  |  |
| *Futures* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Interest rate contracts* | &nbsp;&nbsp;&nbsp;*$(40437)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$—* | &nbsp;&nbsp;&nbsp;&nbsp;*$(40437)* |
| *Total Liabilities* | &nbsp;&nbsp;&nbsp;*$(40437)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$—* | &nbsp;&nbsp;&nbsp;&nbsp;*$(40437)* |
| *Total* | *$1479743* | *$47927752* | *$—* | *$49407495* |

---

------

Touchstone Bond Fund (Unaudited) (Continued)

#### Futures Contracts
*At September 30, 2025, $140,309 was segregated with the broker as collateral for futures contracts. The Fund had the following futures contracts, brokered by Wells Fargo, open at September 30, 2025:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Description*** | &nbsp;&nbsp;&nbsp;***Expiration Date*** | &nbsp;&nbsp;&nbsp;***Number of<br> Contracts*** | &nbsp;&nbsp;&nbsp;***Notional Value*** | &nbsp;&nbsp;&nbsp;***Unrealized<br> Appreciation/<br> Depreciation*** |
| *Short Futures:* |  |  |  |  |
| *30-Year U.S. Ultra Treasury Bond* | &nbsp;&nbsp;&nbsp;*12/19/2025* | &nbsp;&nbsp;&nbsp;*20* | &nbsp;&nbsp;&nbsp;*$2401250* | &nbsp;&nbsp;&nbsp;*$3159* |
| *Long Futures:* |  |  |  |  |
| *2-Year U.S. Treasury Note* | &nbsp;&nbsp;&nbsp;*12/31/2025* | &nbsp;&nbsp;&nbsp;*93* | &nbsp;&nbsp;&nbsp;&nbsp;*19381055* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(40437)* |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$(37278)* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Common Stock Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 100.2%** |  |
|  | &nbsp;&nbsp;**Information Technology — 35.1%** |  |
| 60950 | &nbsp;&nbsp;Apple, Inc. | $15519698 |
| 13071 | &nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp; 2676157 |
| 43010 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 22277029 |
| 68781 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 12833159 |
| 22345 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 6284308 |
| 16359 | &nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp; 3877083 |
| 16388 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | &nbsp;&nbsp; 4577005 |
| 17519 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 3218766 |
| 10934 | &nbsp;&nbsp;Workday, Inc. - Class A\* | &nbsp;&nbsp; 2632142 |
|  |  | &nbsp;&nbsp; 73895347 |
|  | &nbsp;&nbsp;**Communication Services — 16.9%** |  |
| 63555 | &nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp; 15478820 |
| 63376 | &nbsp;&nbsp;Comcast Corp. - Class A | &nbsp;&nbsp; 1991274 |
| 20588 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 15119415 |
| &nbsp;&nbsp;&nbsp;&nbsp;1028 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 1232490 |
| 16162 | &nbsp;&nbsp;Walt Disney Co. (The) | &nbsp;&nbsp; 1850549 |
|  |  | &nbsp;&nbsp; 35672548 |
|  | &nbsp;&nbsp;**Financials — 14.1%** |  |
| 113647 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 5863049 |
| &nbsp;&nbsp;&nbsp;&nbsp;6425 | &nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B\* | &nbsp;&nbsp; 3230104 |
| 50720 | &nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp; 4842238 |
| &nbsp;&nbsp;&nbsp;&nbsp;5116 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 4074127 |
| &nbsp;&nbsp;&nbsp;&nbsp;5498 | &nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp; 1829130 |
| &nbsp;&nbsp;&nbsp;&nbsp;2156 | &nbsp;&nbsp;Markel Group, Inc.\* | &nbsp;&nbsp; 4120892 |
| 16711 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 5704801 |
|  |  | &nbsp;&nbsp; 29664341 |
|  | &nbsp;&nbsp;**Health Care — 10.1%** |  |
| 17120 | &nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp; 3204351 |
| 20439 | &nbsp;&nbsp;BioMarin Pharmaceutical, Inc.\* | &nbsp;&nbsp; 1106976 |
| 50911 | &nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp; 2296086 |
| &nbsp;&nbsp;&nbsp;&nbsp;6321 | &nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp; 2694010 |
| 23836 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 4419671 |
| 47426 | &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp; 4516852 |
| &nbsp;&nbsp;&nbsp;&nbsp;8908 | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 3075933 |
|  |  | &nbsp;&nbsp; 21313879 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 8.6%** |  |
| 25609 | &nbsp;&nbsp;Airbnb, Inc. - Class A\* | &nbsp;&nbsp; 3109445 |
| 56661 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 12441056 |
| 24757 | &nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp; 1331679 |
| 14897 | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp; 1260286 |
|  |  | &nbsp;&nbsp; 18142466 |
|  | &nbsp;&nbsp;**Industrials — 7.1%** |  |
| 19263 | &nbsp;&nbsp;Boeing Co. (The)\* | &nbsp;&nbsp; 4157533 |
| &nbsp;&nbsp;&nbsp;&nbsp;4413 | &nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp; 2017888 |
| &nbsp;&nbsp;&nbsp;&nbsp;4306 | &nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp; 1852915 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 100.2% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 7.1% (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2591 | &nbsp;&nbsp;RTX Corp. | $433552 |
| 33072 | &nbsp;&nbsp;SS&C Technologies Holdings, Inc. | &nbsp;&nbsp; 2935471 |
| 21573 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 1603521 |
| 20834 | &nbsp;&nbsp;Uber Technologies, Inc.\* | &nbsp;&nbsp; 2041107 |
|  |  | &nbsp;&nbsp; 15041987 |
|  | &nbsp;&nbsp;**Consumer Staples — 4.1%** |  |
| 11277 | &nbsp;&nbsp;Diageo PLC (United Kingdom) ADR | &nbsp;&nbsp; 1076164 |
| 33065 | &nbsp;&nbsp;Monster Beverage Corp.\* | &nbsp;&nbsp; 2225605 |
| 32648 | &nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp; 5295506 |
|  |  | &nbsp;&nbsp; 8597275 |
|  | &nbsp;&nbsp;**Energy — 2.1%** |  |
| 39648 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 4470312 |
|  | &nbsp;&nbsp;**Real Estate — 1.4%** |  |
| 10065 | &nbsp;&nbsp;Jones Lang LaSalle, Inc.\* | &nbsp;&nbsp; 3002188 |
|  | &nbsp;&nbsp;**Materials — 0.7%** |  |
| 22409 | &nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 1379050 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $211179393 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 0.0%** |  |
| 99648 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 99648 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.2%<br> (Cost $84,965,627)** | $211279041 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.2%)** | &nbsp;&nbsp;&nbsp; (456506) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $210822535 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |

---

#### Other Information:
*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$211179393* | *$—* | *$—* | *$211179393* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*99648* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*99648* |
| *Total* | *$211279041* | *$—* | *$—* | *$211279041* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Small Company Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.8%** |  |
|  | &nbsp;&nbsp;**Industrials — 19.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1970 | &nbsp;&nbsp;CACI International, Inc. - Class A\* | $982597 |
| &nbsp;&nbsp;&nbsp;&nbsp;4039 | &nbsp;&nbsp;Clean Harbors, Inc.\* | &nbsp;&nbsp; 937937 |
| &nbsp;&nbsp;&nbsp;&nbsp;3298 | &nbsp;&nbsp;Crane Co. | &nbsp;&nbsp; 607294 |
| 13354 | &nbsp;&nbsp;CSG Systems International, Inc. | &nbsp;&nbsp; 859730 |
| &nbsp;&nbsp;&nbsp;&nbsp;1210 | &nbsp;&nbsp;Curtiss-Wright Corp. | &nbsp;&nbsp; 656957 |
| &nbsp;&nbsp;&nbsp;&nbsp;3198 | &nbsp;&nbsp;ESCO Technologies, Inc. | &nbsp;&nbsp; 675130 |
| 22105 | &nbsp;&nbsp;ExlService Holdings, Inc.\* | &nbsp;&nbsp; 973283 |
| &nbsp;&nbsp;&nbsp;&nbsp;4820 | &nbsp;&nbsp;Federal Signal Corp. | &nbsp;&nbsp; 573532 |
| 14912 | &nbsp;&nbsp;Hexcel Corp. | &nbsp;&nbsp; 934982 |
| &nbsp;&nbsp;&nbsp;&nbsp;5501 | &nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp; 983359 |
| 19372 | &nbsp;&nbsp;KBR, Inc. | &nbsp;&nbsp; 916102 |
| 12147 | &nbsp;&nbsp;MAXIMUS, Inc. | &nbsp;&nbsp; 1109871 |
| 12274 | &nbsp;&nbsp;NEXTracker, Inc. - Class A\* | &nbsp;&nbsp; 908153 |
| 13693 | &nbsp;&nbsp;Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp; 643982 |
|  |  | &nbsp;&nbsp;11762909 |
|  | &nbsp;&nbsp;**Information Technology — 18.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3632 | &nbsp;&nbsp;Advanced Energy Industries, Inc. | &nbsp;&nbsp; 617949 |
| 26620 | &nbsp;&nbsp;Box, Inc. - Class A\* | &nbsp;&nbsp; 859027 |
| 79019 | &nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc.\* | &nbsp;&nbsp; 719863 |
| &nbsp;&nbsp;&nbsp;&nbsp;6770 | &nbsp;&nbsp;Ciena Corp.\* | &nbsp;&nbsp; 986186 |
| &nbsp;&nbsp;&nbsp;&nbsp;4327 | &nbsp;&nbsp;CommVault Systems, Inc.\* | &nbsp;&nbsp; 816851 |
| 63506 | &nbsp;&nbsp;DoubleVerify Holdings, Inc.\* | &nbsp;&nbsp; 760802 |
| 14857 | &nbsp;&nbsp;Kulicke & Soffa Industries, Inc. (Singapore) | &nbsp;&nbsp; 603789 |
| 46224 | &nbsp;&nbsp;LiveRamp Holdings, Inc.\* | &nbsp;&nbsp; 1254519 |
| &nbsp;&nbsp;&nbsp;&nbsp;7052 | &nbsp;&nbsp;Onto Innovation, Inc.\* | &nbsp;&nbsp; 911259 |
| &nbsp;&nbsp;&nbsp;&nbsp;6810 | &nbsp;&nbsp;Qualys, Inc.\* | &nbsp;&nbsp; 901167 |
| 40414 | &nbsp;&nbsp;RingCentral, Inc. - Class A\* | &nbsp;&nbsp; 1145333 |
| &nbsp;&nbsp;&nbsp;&nbsp;8599 | &nbsp;&nbsp;SPS Commerce, Inc.\* | &nbsp;&nbsp; 895500 |
| 13444 | &nbsp;&nbsp;Tower Semiconductor Ltd. (Israel)\* | &nbsp;&nbsp; 972001 |
|  |  | &nbsp;&nbsp;11444246 |
|  | &nbsp;&nbsp;**Health Care — 18.3%** |  |
| 15314 | &nbsp;&nbsp;Bio-Techne Corp. | &nbsp;&nbsp; 851918 |
| 33770 | &nbsp;&nbsp;Certara, Inc.\* | &nbsp;&nbsp; 412669 |
| &nbsp;&nbsp;&nbsp;&nbsp;2028 | &nbsp;&nbsp;Chemed Corp. | &nbsp;&nbsp; 908017 |
| &nbsp;&nbsp;&nbsp;&nbsp;8130 | &nbsp;&nbsp;Doximity, Inc. - Class A\* | &nbsp;&nbsp; 594709 |
| &nbsp;&nbsp;&nbsp;&nbsp;8443 | &nbsp;&nbsp;Encompass Health Corp. | &nbsp;&nbsp; 1072430 |
| &nbsp;&nbsp;&nbsp;&nbsp;5197 | &nbsp;&nbsp;Ensign Group, Inc. (The) | &nbsp;&nbsp; 897886 |
| 16182 | &nbsp;&nbsp;Globus Medical, Inc. - Class A\* | &nbsp;&nbsp; 926743 |
| 24527 | &nbsp;&nbsp;Haemonetics Corp.\* | &nbsp;&nbsp; 1195446 |
| 17334 | &nbsp;&nbsp;LivaNova PLC\* | &nbsp;&nbsp; 907955 |
| 10942 | &nbsp;&nbsp;Merit Medical Systems, Inc.\* | &nbsp;&nbsp; 910703 |
| 41735 | &nbsp;&nbsp;Option Care Health, Inc.\* | &nbsp;&nbsp; 1158563 |
| 57159 | &nbsp;&nbsp;Progyny, Inc.\* | &nbsp;&nbsp; 1230062 |
|  |  | &nbsp;&nbsp;11067101 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 14.0%** |  |
| 12068 | &nbsp;&nbsp;Champion Homes, Inc.\* | &nbsp;&nbsp; 921633 |
| &nbsp;&nbsp;&nbsp;&nbsp;7810 | &nbsp;&nbsp;Crocs, Inc.\* | &nbsp;&nbsp; 652526 |
| 12804 | &nbsp;&nbsp;Frontdoor, Inc.\* | &nbsp;&nbsp; 861581 |
| &nbsp;&nbsp;&nbsp;&nbsp;4010 | &nbsp;&nbsp;Grand Canyon Education, Inc.\* | &nbsp;&nbsp; 880275 |
| 18225 | &nbsp;&nbsp;Malibu Boats, Inc. - Class A\* | &nbsp;&nbsp; 591401 |
| &nbsp;&nbsp;&nbsp;&nbsp;8230 | &nbsp;&nbsp;PVH Corp. | &nbsp;&nbsp; 689427 |
| 19530 | &nbsp;&nbsp;Steven Madden Ltd. | &nbsp;&nbsp; 653865 |
| &nbsp;&nbsp;&nbsp;&nbsp;8008 | &nbsp;&nbsp;Stride, Inc.\* | &nbsp;&nbsp; 1192712 |
| &nbsp;&nbsp;&nbsp;&nbsp;4708 | &nbsp;&nbsp;Texas Roadhouse, Inc. | &nbsp;&nbsp; 782234 |
| &nbsp;&nbsp;&nbsp;&nbsp;1664 | &nbsp;&nbsp;TopBuild Corp.\* | &nbsp;&nbsp; 650391 |
| 17680 | &nbsp;&nbsp;YETI Holdings, Inc.\* | &nbsp;&nbsp; 586622 |
|  |  | &nbsp;&nbsp; 8462667 |
|  | &nbsp;&nbsp;**Financials — 10.7%** |  |
| 13820 | &nbsp;&nbsp;Ameris Bancorp | &nbsp;&nbsp; 1013144 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 10.7% (Continued)** |  |
| 26964 | &nbsp;&nbsp;Atlantic Union Bankshares Corp. | $951560 |
| &nbsp;&nbsp;&nbsp;&nbsp;2616 | &nbsp;&nbsp;Evercore, Inc. - Class A | &nbsp;&nbsp; 882429 |
| 58867 | &nbsp;&nbsp;FNB Corp. | &nbsp;&nbsp; 948347 |
| 26700 | &nbsp;&nbsp;Home BancShares, Inc. | &nbsp;&nbsp; 755610 |
| &nbsp;&nbsp;&nbsp;&nbsp;9694 | &nbsp;&nbsp;SouthState Bank Corp. | &nbsp;&nbsp; 958446 |
| 16525 | &nbsp;&nbsp;Webster Financial Corp. | &nbsp;&nbsp; 982246 |
|  |  | &nbsp;&nbsp; 6491782 |
|  | &nbsp;&nbsp;**Real Estate — 6.4%** |  |
| 13684 | &nbsp;&nbsp;Agree Realty Corp. REIT | &nbsp;&nbsp; 972111 |
| &nbsp;&nbsp;&nbsp;&nbsp;5834 | &nbsp;&nbsp;Colliers International Group, Inc. (Canada) | &nbsp;&nbsp; 911329 |
| 34785 | &nbsp;&nbsp;COPT Defense Properties REIT | &nbsp;&nbsp; 1010852 |
| 27678 | &nbsp;&nbsp;STAG Industrial, Inc. REIT | &nbsp;&nbsp; 976757 |
|  |  | &nbsp;&nbsp; 3871049 |
|  | &nbsp;&nbsp;**Energy — 5.6%** |  |
| 17707 | &nbsp;&nbsp;Cactus, Inc. - Class A | &nbsp;&nbsp; 698895 |
| &nbsp;&nbsp;&nbsp;&nbsp;3520 | &nbsp;&nbsp;Gulfport Energy Corp.\* | &nbsp;&nbsp; 637050 |
| 17860 | &nbsp;&nbsp;HF Sinclair Corp. | &nbsp;&nbsp; 934792 |
| 45060 | &nbsp;&nbsp;Oceaneering International, Inc.\* | &nbsp;&nbsp; 1116587 |
|  |  | &nbsp;&nbsp; 3387324 |
|  | &nbsp;&nbsp;**Communication Services — 3.4%** |  |
| 34720 | &nbsp;&nbsp;Cargurus, Inc.\* | &nbsp;&nbsp; 1292625 |
| 19269 | &nbsp;&nbsp;Ziff Davis, Inc.\* | &nbsp;&nbsp; 734149 |
|  |  | &nbsp;&nbsp; 2026774 |
|  | &nbsp;&nbsp;**Materials — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4122 | &nbsp;&nbsp;Eagle Materials, Inc. | &nbsp;&nbsp; 960591 |
| 21171 | &nbsp;&nbsp;Silgan Holdings, Inc. | &nbsp;&nbsp; 910565 |
|  |  | &nbsp;&nbsp; 1871156 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $60385008 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 1.5%** |  |
| 890300 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 890300 |
|  | &nbsp;&nbsp;**Total Investment Securities—101.3%<br> (Cost $42,475,179)** | $61275308 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (1.3%)** | &nbsp;&nbsp;&nbsp; (771883) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $60503425 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$60385008* | *$—* | *$—* | *$60385008* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*890300* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*890300* |
| *Total* | *$61275308* | *$—* | *$—* | *$61275308* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Notes to Portfolios of Investments

September 30, 2025 (Unaudited)

**Security valuation and fair value measurements — U.S. generally accepted accounting principles ("U.S. GAAP") defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. All investments in securities are recorded at their fair value. The Funds define the term "market value", as used throughout this report, as the estimated fair value. The Funds use various methods to measure fair value of their portfolio securities on a recurring basis. U.S. GAAP fair value measurement standards require disclosure of a hierarchy that prioritizes inputs to valuation methods. These inputs are summarized in the three broad levels listed below:**

• Level 1 - quoted prices in active markets for identical securities

• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

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

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

The aggregate value by input level, as of September 30, 2025, for each Fund's investments, is included in each Fund's Portfolio of Investments. The Funds did not hold or transfer any Level 3 categorized securities during the period ended September 30, 2025.

Changes in valuation techniques may result in transfers into or out of an investment's assigned level within the hierarchy.

The Funds' portfolio securities are valued as of the close of the regular session of trading on the New York Stock Exchange ("NYSE") (currently 4:00 p.m., Eastern Time or at the time as of which the NYSE establishes official closing prices). Portfolio securities traded on stock exchanges are valued at the last reported sale price, official close price, or last bid price if no sales are reported. Portfolio securities quoted by NASDAQ are valued at the NASDAQ Official Closing Price ("NOCP") or from the primary exchange on which the security trades. To the extent these securities are actively traded, they are categorized in Level 1 of the fair value hierarchy. Options and futures are valued at the last quoted sales price. If there is no such reported sale on the valuation date, long option positions are valued at the most recent bid price, and short option positions are valued at the most recent ask price on the valuation date and are categorized in Level 1. Shares of mutual funds in which the Funds invest are valued at their respective net asset value ("NAV") as reported by the underlying funds and are categorized in Level 1.

Debt securities held by the Funds are valued at their evaluated bid by an independent pricing service or at their last broker-quoted bid prices as obtained from one or more of the major market makers for such securities. Independent pricing services use information provided by market makers or estimates of market values through accepted market modeling conventions. Observable inputs to the models may include prepayment speeds, pricing spread, yield, trade information, dealer quotes, market color, cash flow models, the securities' terms and conditions, among others, and are generally categorized in Level 2. Investments in asset-backed and mortgage-backed securities are valued by independent pricing services using models that consider estimated cash flows of each tranche of the security, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche, and are generally categorized in Level 2. Debt securities with remaining maturities of 60 days or less may be valued at amortized cost, provided such amount approximates market value and are categorized in Level 2. While this method provides consistency in valuation (and may only be used if it approximates market value), it may result in periods during which fair value, as determined by amortized cost, is higher or lower than the price that would be received if the Fund sold the investment.

Securities mainly traded on a non-U.S. exchange or denominated in foreign currencies are generally valued according to the preceding closing values on that exchange, translated to U.S. dollars using currency exchange rates as of the close of regular trading on the NYSE, and are generally categorized in Level 1. However, if an event that may change the value of a security occurs after the time that the closing value on the non-U.S. exchange was determined, but before the close of regular trading on the NYSE, the security may be priced based on fair value and is generally categorized in Level 2. This may cause the value of the security, if held on the books of a Fund, to be different from the closing value on the non-U.S. exchange and may affect the calculation of that Fund's NAV. The Funds may use fair value pricing under the following circumstances, among others:

• If the value of a security has been materially affected by events occurring before the Funds' pricing time but after the close of the primary markets on which the security is traded.

• If the exchange on which a portfolio security is principally traded closes early or if trading in a particular portfolio security was halted during the day and did not resume prior to the Funds' NAV calculation.

• If a security is so thinly traded that reliable market quotations are unavailable due to infrequent trading.

• If the validity of market quotations is not reliable.

Securities held by the Funds that do not have readily available market quotations, significant observable inputs, or securities for which the available market quotations are not reliable, are priced at their estimated fair value using procedures established by Touchstone Advisors, Inc. and adopted by the Funds' Board of Trustees and are generally categorized in Level 3.

------

Notes to Portfolios of Investments (Unaudited) (Continued)

Each Fund is an investment company that follows the accounting and reporting guidance of Accounting Standards Codification Topic 946 applicable to investment companies.

#### Security transactions —Security transactions are reflected for financial reporting purposes as of the trade date.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Touchstone Variable Series Trust

- **b. Investment Company Act file number:** 811-08416

- **c. CIK number of Registrant:** 0000920547

- **d. LEI of Registrant:** 549300PPYZ5OV9N1T150

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

  - **Street Address 1:** 303 Broadway

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45202

  - **Telephone number:** 8006388194

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

- **a. Name of Series:** Touchstone Variable Series Trust-Touchstone Balanced Fund

- **b. EDGAR series identifier (if any):** S000059066

- **c. LEI of Series:** 549300R24124F2BXT953

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $48936683.92

**Total Liabilities:** $211445.28

**Net Assets:** $48725238.64

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 277.169530316627 | **1-Year:** 398.121288976245 | **5-Year:** 2305.438184131699 | **10-Year:** 3014.352509112734 | **30-Year:** 1624.385361214518

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 121.123519409294 | **10-Year:** 133.153048375993 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000193689 | 1.75%                | 1.58%                | 2.18%                |
| Class ID C000226678 | 1.75%                | 1.58%                | 2.18%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $133668.65               | $636969.27                                 |
| Month 2  | $-12031.49               | $674754.74                                 |
| Month 3  | $112185.76               | $882271.19                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Short-Term Invts T                                                                   | Short-Term Invts T INVSCO GOVT INST                                   | CUSIP: 825252885<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |     72325 | NS      | $72325.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                                                                      | Deere & Company COM USD1                                              | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       620 | NS      | $283501.20    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Dupont De Nemours Inc                                                                | Dupont De Nemours Inc COM USD0.01                                     | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      1254 | NS      | $97686.60     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| PSMC 2019-1 Trust                                                                    | PSMC 2021-3 A3                                                        | CUSIP: 69376DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135587 | PA      | $122396.99    | 0.25%             | 2051-08-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Provident Energy                                                                     | PFMT 2021-J1 A3                                                       | CUSIP: 74387MAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    141944 | PA      | $126421.88    | 0.26%             | 2051-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Airbnb Inc                                                                           | Airbnb Inc COM CL A                                                   | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      3824 | NS      | $464310.08    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                                                            | RTX 6.4 03/15/54                                                      | CUSIP: 75513ECX7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     52000 | PA      | $58147.52     | 0.12%             | 2054-03-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Amcor Flexibles North America Inc                                                    | AMCR 2.63 06/19/30                                                    | CUSIP: 081437AT2<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |     82000 | PA      | $75667.50     | 0.16%             | 2030-06-19      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance (USA) plc                                                          | RIOLN 5.25 03/14/35                                                   | CUSIP: 76720AAU0<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |     38000 | PA      | $39135.35     | 0.08%             | 2035-03-14      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NGPL Pipe Co LLC                                                                     | NGPLCO 7.768 12/15/37 144A                                            | CUSIP: 62912XAC8<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |     79000 | PA      | $91186.43     | 0.19%             | 2037-12-15      | Fixed         | 7.77%                 | Yes           |                  2 | On Loan: No      |
| Rogers Communications Inc.                                                           | RCICN 5.3 02/15/34                                                    | CUSIP: 775109DF5<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |     85000 | PA      | $86232.39     | 0.18%             | 2034-02-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| New Residential Mortgage Loan Trust 2020-1                                           | NRZT 2021-INV2 A7                                                     | CUSIP: 64831GAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    129716 | PA      | $116762.07    | 0.24%             | 2051-09-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                                                 | RY V4.969 08/02/30 GMTN                                               | CUSIP: 78016HZZ6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $81868.76     | 0.17%             | 2030-08-02      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| New York Life Global Funding                                                         | NYLIFE 4.55 01/28/33 144A                                             | CUSIP: 64952WEZ2<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |     61000 | PA      | $60911.85     | 0.13%             | 2033-01-28      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| Gildan Activewear Inc.                                                               | GILCN 4.7 10/07/30 144A                                               | CUSIP: 375916AF0<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $19974.61     | 0.04%             | 2030-10-07      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Gildan Activewear Inc.                                                               | GILCN 5.4 10/07/35 144A                                               | CUSIP: 375916AG8<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |     42000 | PA      | $42006.86     | 0.09%             | 2035-10-07      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| HF Sinclair Corp.                                                                    | DINO 5 02/01/28                                                       | CUSIP: 403949AQ3<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |     71000 | PA      | $71152.64     | 0.15%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 5.5 03/01/32                                                      | CUSIP: 404119DA4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     76000 | PA      | $79201.58     | 0.16%             | 2032-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V3.509 01/23/29                                                   | CUSIP: 46647PAM8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     82000 | PA      | $80929.13     | 0.17%             | 2029-01-23      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.956 05/13/31                                                   | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    104000 | PA      | $97573.62     | 0.20%             | 2031-05-13      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| Keysight Technologies, Inc.                                                          | KEYS 4.95 10/15/34                                                    | CUSIP: 49338LAG8<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |     54000 | PA      | $54326.20     | 0.11%             | 2034-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 5.2 03/01/35 144A                                                | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     72000 | PA      | $73595.55     | 0.15%             | 2035-03-01      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| Norfolk Southern Corporation                                                         | NSC 4.837 10/01/41                                                    | CUSIP: 655844BH0<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |     66000 | PA      | $62796.04     | 0.13%             | 2041-10-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Northwestern Mutual Life Insurance Co.                                               | NWMLIC 3.85 09/30/47 144A                                             | CUSIP: 668138AA8<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |     93000 | PA      | $72177.61     | 0.15%             | 2047-09-30      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                           | OXY 7.95 06/15/39                                                     | CUSIP: 674599DH5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     73000 | PA      | $85565.42     | 0.18%             | 2039-06-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Pepsico Inc                                                                          | PEP 1.625 05/01/30                                                    | CUSIP: 713448EZ7<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |     45000 | PA      | $40362.65     | 0.08%             | 2030-05-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Pernod Ricard International Finance Llc                                              | RIFP 1.625 04/01/31 144A                                              | CUSIP: 71427QAB4<br>LEI: 5493009254WI1A8WXT48 | Long             | DBT              | CORP              | US        |     97000 | PA      | $83551.83     | 0.17%             | 2031-04-01      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                   | PERU 2.78 12/01/60                                                    | CUSIP: 715638DQ2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    119000 | PA      | $66324.65     | 0.14%             | 2060-12-01      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| Uber Technologies Inc                                                                | Uber Technologies Inc COM USD0.00001                                  | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      3060 | NS      | $299788.20    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                                                           | AMGN 5.15 03/02/28                                                    | CUSIP: 031162DP2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     74000 | PA      | $75742.24     | 0.16%             | 2028-03-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Holdings Inc.                                                      | SS&C Technologies Holdings Inc. COM USD0.01                           | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |      5282 | NS      | $468830.32    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker, Inc.                                                         | Stanley Black & Decker, Inc. COM USD2.50                              | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |      3096 | NS      | $230125.68    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                                                                      | Starbucks Corp. COM USD0.001                                          | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      2371 | NS      | $200586.60    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.                                         | Taiwan Semiconductor Manufacturing Co., Ltd. SPON ADS REP 5 ORD TWD10 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      2497 | NS      | $697387.13    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Progress LLC                                                             | DUK 4.15 12/01/44                                                     | CUSIP: 26442RAD3<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     81000 | PA      | $68709.11     | 0.14%             | 2044-12-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Edison International                                                                 | EIX 4.125 03/15/28                                                    | CUSIP: 281020AM9<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |     59000 | PA      | $57924.78     | 0.12%             | 2028-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V6.174 05/25/34                                                     | CUSIP: 17327CAR4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     49000 | PA      | $52129.91     | 0.11%             | 2034-05-25      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp                                                        | EFNCN 5.037 03/25/30 144A                                             | CUSIP: 286181AP7<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |     78000 | PA      | $79585.70     | 0.16%             | 2030-03-25      | Fixed         | 5.04%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V4.542 09/19/30                                                     | CUSIP: 17327CAT0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    106000 | PA      | $106502.30    | 0.22%             | 2030-09-19      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                 | GM 3.1 01/12/32                                                       | CUSIP: 37045XDS2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    131000 | PA      | $118021.10    | 0.24%             | 2032-01-12      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                                                                 | ELV 4.75 02/15/33                                                     | CUSIP: 28622HAB7<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     59000 | PA      | $59169.12     | 0.12%             | 2033-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust 2020-Gc46                                        | CGCMT 2020-GC46 A5                                                    | CUSIP: 17328RAZ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    255000 | PA      | $235881.81    | 0.48%             | 2053-02-18      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| Sempra Infrastructure Partners LP                                                    | SMPINF 3.25 01/15/32 144A                                             | CUSIP: 81685VAA1<br>LEI: 549300L0B3MD11PUAA07 | Long             | DBT              | CORP              | US        |     86000 | PA      | $76280.54     | 0.16%             | 2032-01-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Starbucks Corp.                                                                      | SBUX 3.35 03/12/50                                                    | CUSIP: 855244AX7<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |     53000 | PA      | $36747.64     | 0.08%             | 2050-03-12      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                                                   | STT F 06/15/47                                                        | CUSIP: 857477AY9<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    110000 | PA      | $99538.53     | 0.20%             | 2047-06-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| STORE Capital Corp.                                                                  | STOR 4.625 03/15/29                                                   | CUSIP: 862121AB6<br>LEI: 5493004EA6C9IHDZ7N66 | Long             | DBT              | CORP              | US        |     44000 | PA      | $43714.80     | 0.09%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| STORE Capital Corp.                                                                  | STOR 2.75 11/18/30                                                    | CUSIP: 862121AC4<br>LEI: 5493004EA6C9IHDZ7N66 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7274.40      | 0.01%             | 2030-11-18      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| STORE Capital Corp.                                                                  | STOR 2.7 12/01/31                                                     | CUSIP: 862121AD2<br>LEI: 5493004EA6C9IHDZ7N66 | Long             | DBT              | CORP              | US        |     46000 | PA      | $40280.16     | 0.08%             | 2031-12-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Ohio Power Company                                                                   | AEP 2.9 10/01/51 R                                                    | CUSIP: 677415CU3<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |     85000 | PA      | $52900.17     | 0.11%             | 2051-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Oncor Electric Delivery Company LLC                                                  | ONCRTX 5.8 04/01/55 144A                                              | CUSIP: 68233JDA9<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     78000 | PA      | $80333.17     | 0.16%             | 2055-04-01      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| PNC Capital Trust C                                                                  | PNC F 06/01/28                                                        | CUSIP: 69349AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $83945.68     | 0.17%             | 2028-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp.                                       | PENSKE 5.35 01/12/27 144A                                             | CUSIP: 709599BY9<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |     44000 | PA      | $44538.23     | 0.09%             | 2027-01-12      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                     | PM 5.375 02/15/33                                                     | CUSIP: 718172DB2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    102000 | PA      | $106478.84    | 0.22%             | 2033-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Diageo PLC                                                                           | Diageo PLC ADR REPR 4 ORD GBX28.935185                                | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |      1646 | NS      | $157077.78    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation                                                       | The Charles Schwab Corporation COM USD0.01                            | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      7025 | NS      | $670676.75    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc.                                                               | Texas Instruments Inc. COM USD1.00                                    | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      2584 | NS      | $474758.32    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corp.                                                    | BK V5.834 10/25/33 MTN                                                | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     65000 | PA      | $70024.25     | 0.14%             | 2033-10-25      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | Bank of America Corp. COM USD0.01                                     | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     16452 | NS      | $848758.68    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Partners Lp                                                          | CQP 4 03/01/31                                                        | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28934.89     | 0.06%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Becton, Dickinson and Company                                                        | Becton, Dickinson and Company COM USD1.00                             | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      2566 | NS      | $480278.22    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Partners Lp                                                          | CQP 3.25 01/31/32                                                     | CUSIP: 16411QAN1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     71000 | PA      | $64689.09     | 0.13%             | 2032-01-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Westrock MWV LLC                                                                     | SW 8.2 01/15/30                                                       | CUSIP: 961548AV6<br>LEI: 4DL8C98Z5G5IXZLH3578 | Long             | DBT              | CORP              | US        |     43000 | PA      | $49258.61     | 0.10%             | 2030-01-15      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| Skymiles IP Ltd. & Delta Air Lines Inc.                                              | DAL 4.75 10/20/28 144A                                                | CUSIP: 830867AB3<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | KY        |     70000 | PA      | $70396.52     | 0.14%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                                          | UPS 5.95 05/14/55                                                     | CUSIP: 911312CK0<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |     72000 | PA      | $75190.78     | 0.15%             | 2055-05-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 4.5 05/15/35                                                        | CUSIP: 00206RCP5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     44000 | PA      | $42510.98     | 0.09%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 3.8 12/01/57                                                        | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     88000 | PA      | $62670.45     | 0.13%             | 2057-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.45 05/14/46                                                    | CUSIP: 00287YAW9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |     69000 | PA      | $61033.80     | 0.13%             | 2046-05-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER)  | AER 3 10/29/28                                                        | CUSIP: 00774MAW5<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |     85000 | PA      | $81927.63     | 0.17%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Walt Disney Company                                                                  | Walt Disney Company COM DISNEY USD0.01                                | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      2504 | NS      | $286708.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Midwest Connector Capital Company LLC                                                | MWXCAP 4.625 04/01/29 144A                                            | CUSIP: 59833CAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $78359.61     | 0.16%             | 2029-04-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 3.6 04/01/40                                                     | CUSIP: 68389XBW4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     22000 | PA      | $17665.85     | 0.04%             | 2040-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| PacifiCorp.                                                                          | BRKHEC 5.75 04/01/37                                                  | CUSIP: 695114CD8<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |     73000 | PA      | $75416.90     | 0.15%             | 2037-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| 7-Eleven Inc.                                                                        | SVELEV 1.8 02/10/31 144A                                              | CUSIP: 817826AE0<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |    125000 | PA      | $108692.39    | 0.22%             | 2031-02-10      | Fixed         | 1.80%                 | Yes           |                  2 | On Loan: No      |
| The Sherwin-Williams Company                                                         | SHW 4.5 06/01/47                                                      | CUSIP: 824348AX4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |     68000 | PA      | $58672.78     | 0.12%             | 2047-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UnitedHealth Group Inc. COM USD0.01                                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1304 | NS      | $450271.20    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                                                             | Visa Inc COM STK USD0.0001                                            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2541 | NS      | $867446.58    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                                                          | Workday Inc COM USD0.001 CL A                                         | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      1587 | NS      | $382038.51    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V3.691 06/05/28                                                    | CUSIP: 38141GWL4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44684.39     | 0.09%             | 2028-06-05      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V2.615 04/22/32                                                    | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90735.05     | 0.19%             | 2032-04-22      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| ERAC USA Finance LLC                                                                 | ENTERP 4.2 11/01/46 144A                                              | CUSIP: 26884TAS1<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |     64000 | PA      | $53891.68     | 0.11%             | 2046-11-01      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| Texas Instruments Inc.                                                               | TXN 5.1 05/23/35                                                      | CUSIP: 882508CM4<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |     56000 | PA      | $57762.96     | 0.12%             | 2035-05-23      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Ferguson Enterprises Inc                                                             | FERG 4.35 03/15/31                                                    | CUSIP: 31488VAB3<br>LEI: 2138003JYQMRP3SLX189 | Long             | DBT              | CORP              | US        |     54000 | PA      | $53652.73     | 0.11%             | 2031-03-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Textron Financial Corporation                                                        | TXT V0 02/15/42 144A                                                  | CUSIP: 883199AR2<br>LEI: 4E8B2CNXPE5P5AY03O18 | Long             | DBT              | CORP              | US        |    132000 | PA      | $119275.22    | 0.24%             | 2042-02-15      | Floating      | 6.21%                 | Yes           |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 5.125 07/20/45                                                    | CUSIP: 126650CN8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     60000 | PA      | $54436.65     | 0.11%             | 2045-07-20      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| First Maryland Capital I                                                             | MTB F 01/15/27                                                        | CUSIP: 320808AD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     52000 | PA      | $51486.02     | 0.11%             | 2027-01-15      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | CMCSA 4 03/01/48                                                      | CUSIP: 20030NCK5<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     61000 | PA      | $47641.82     | 0.10%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                                  | CATMED 4.187 10/01/49                                                 | CUSIP: 20268JAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $55494.27     | 0.11%             | 2049-10-01      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc                                                         | TMO 5.404 08/10/43                                                    | CUSIP: 883556CY6<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |     59000 | PA      | $59599.23     | 0.12%             | 2043-08-10      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| DH Europe Finance II SARL                                                            | DHR 3.25 11/15/39                                                     | CUSIP: 23291KAJ4<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |     85000 | PA      | $69643.37     | 0.14%             | 2039-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DCP Midstream Operating LP                                                           | DCP 6.75 09/15/37                                                     | CUSIP: 23311RAA4<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |     87000 | PA      | $94669.63     | 0.19%             | 2037-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                            | TPMT 2020-4 A2                                                        | CUSIP: 89179JAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95000 | PA      | $78138.16     | 0.16%             | 2060-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                   | DELL 4.85 02/01/35                                                    | CUSIP: 24703DBQ3<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |     48000 | PA      | $47238.00     | 0.10%             | 2035-02-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management Funds                                             | Dreyfus Government Cash Management Funds SH BEN INT                   | CUSIP: 262006208<br>LEI: 549300F7IDB6WRO7VJ11 | Long             | STIV             | RF                | US        |    420070 | NS      | $420069.73    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| The Timken Company                                                                   | TKR 4.5 12/15/28                                                      | CUSIP: 887389AK0<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80481.57     | 0.17%             | 2028-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                                            | TOYOTA 4.65 01/05/29 MTN                                              | CUSIP: 89236TLL7<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     49000 | PA      | $49906.09     | 0.10%             | 2029-01-05      | Fixed         | 4.65%                 | No            |                  2 | On Loan: —       |
| GS MBS TRUST 2021-PJ10                                                               | GSMBS 2021-PJ10 A8                                                    | CUSIP: 36262PAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    177328 | PA      | $158379.86    | 0.33%             | 2052-03-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2020-Pj2                                         | GSMBS 2021-PJ9 A8                                                     | CUSIP: 36263CAH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     77004 | PA      | $68771.54     | 0.14%             | 2052-02-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Georgia Power Company                                                                | SO 5.95 02/01/39                                                      | CUSIP: 373334JN2<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |     43000 | PA      | $45136.09     | 0.09%             | 2039-02-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc.                                                                      | HD 5.95 04/01/41                                                      | CUSIP: 437076AV4<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |     48000 | PA      | $51737.21     | 0.11%             | 2041-04-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                              | HYNMTR 5.35 03/19/29 144A                                             | CUSIP: 44891ACY1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     69000 | PA      | $70879.71     | 0.15%             | 2029-03-19      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG G05624                                                             | CUSIP: 3128M7SM9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     77684 | PA      | $78256.08     | 0.16%             | 2039-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG Q29260                                                             | CUSIP: 3132M95V2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     51529 | PA      | $49855.98     | 0.10%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 725423                                                             | CUSIP: 31402C4G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27648 | PA      | $28388.59     | 0.06%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 725610                                                             | CUSIP: 31402DDP2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24924 | PA      | $25525.85     | 0.05%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FA0499                                                             | CUSIP: 3140W0RV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    202354 | PA      | $201281.99    | 0.41%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS2906                                                             | CUSIP: 3140XJGQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    217028 | PA      | $216729.30    | 0.44%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS9194                                                             | CUSIP: 3140XRGC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    143642 | PA      | $131823.82    | 0.27%             | 2052-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 890310                                                             | CUSIP: 31410LDP4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6194 | PA      | $6211.16      | 0.01%             | 2040-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AD9193                                                             | CUSIP: 31418XGB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22338 | PA      | $22885.45     | 0.05%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLAGSTAR MTG TR 2021-5INV                                                            | FSMT 2021-5INV A16                                                    | CUSIP: 33851PAS4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     65655 | PA      | $54029.20     | 0.11%             | 2051-07-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Flagstar Mortgage Trust 2018-3Inv                                                    | FSMT 2021-4 A1                                                        | CUSIP: 33852FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    134496 | PA      | $111812.18    | 0.23%             | 2051-06-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | TII 2.375 02/15/55                                                    | CUSIP: 912810UH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    276415 | PA      | $269408.89    | 0.55%             | 2055-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | T 4.75 02/15/45                                                       | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    395000 | PA      | $397098.44    | 0.81%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | T 4.75 08/15/55                                                       | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     15000 | PA      | $15039.84     | 0.03%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 3.75 04/15/28                                                       | CUSIP: 91282CMW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    205000 | PA      | $205664.65    | 0.42%             | 2028-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 4 05/31/30                                                          | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1010000 | PA      | $1022072.65   | 2.10%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 4.25 08/15/35                                                       | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $302437.50    | 0.62%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Inc.                                                              | Berkshire Hathaway Inc. COM USD0.0033 CLASS'B'                        | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |       990 | NS      | $497712.60    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Biomarin Pharmaceutical Inc.                                                         | Biomarin Pharmaceutical Inc. COM USD0.001                             | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      3000 | NS      | $162480.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| The Boeing Company                                                                   | The Boeing Company COM USD5.00                                        | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      3051 | NS      | $658497.33    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                                                   | Meta Platforms Inc COM USD0.000006 CL 'A'                             | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      3129 | NS      | $2297875.02   | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | Goldman Sachs Group, Inc. COM USD0.01                                 | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       999 | NS      | $795553.65    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                                                                      | Microsoft Corp. COM USD0.00000625                                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      6042 | NS      | $3129453.90   | 6.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                                                        | Medtronic PLC USD0.0001                                               | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      6880 | NS      | $655251.20    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                                                        | Alphabet Inc. CAP USD0.001 CL C                                       | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      9520 | NS      | $2318596.00   | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                                                                     | Amazon.com, Inc. COM USD0.01                                          | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      8010 | NS      | $1758755.70   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide Inc                    | ABIBB 4.9 02/01/46 *                                                  | CUSIP: 03522AAJ9<br>LEI: 5493002J2SVENP0PVK27 | Long             | DBT              | CORP              | US        |     48000 | PA      | $44950.47     | 0.09%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Apple Inc.                                                                           | AAPL 4.65 02/23/46                                                    | CUSIP: 037833BX7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     87000 | PA      | $81317.84     | 0.17%             | 2046-02-23      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Calpine Corporation                                                                  | CPN 5 02/01/31 144A                                                   | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39882.00     | 0.08%             | 2031-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Canadian Pacific Railway Company                                                     | CP 3 12/02/41                                                         | CUSIP: 13645RBG8<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $59947.89     | 0.12%             | 2041-12-02      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Crown Castle Inc.                                                                    | CCI 4.8 09/01/28                                                      | CUSIP: 22822VBB6<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     82000 | PA      | $83162.13     | 0.17%             | 2028-09-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| HCA Healthcare Inc                                                                   | HCA Healthcare Inc COM USD0.01                                        | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       959 | NS      | $408725.80    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Incorporated                                                                 | Hubbell Incorporated COM USD0.001                                     | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |       691 | NS      | $297344.21    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| International Flavors & Fragrances Inc.                                              | International Flavors & Fragrances Inc. COM USD0.125                  | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |      3213 | NS      | $197728.02    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                                        | iShares Trust BROAD USD HIGH                                          | CUSIP: 46435U853<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     11938 | NS      | $451017.64    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                                                    | Johnson & Johnson COM USD1.00                                         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      3530 | NS      | $654532.60    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Incorporated                                                      | Jones Lang LaSalle Incorporated COM USD0.01                           | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      1509 | NS      | $450104.52    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp                                                                 | Las Vegas Sands Corp COM USD0.001                                     | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |      3528 | NS      | $189771.12    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Poland (Republic of)                                                                 | POLAND 5.5 03/18/54 30Y                                               | CUSIP: 731011AZ5<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     61000 | PA      | $58963.66     | 0.12%             | 2054-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RATE MORTGAGE TRUST 2021-J3                                                          | RATE 2021-J3 A7                                                       | CUSIP: 75409TAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    139063 | PA      | $123464.92    | 0.25%             | 2051-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Truist Financial Corp.                                                               | TFC F 05/15/27 A                                                      | CUSIP: 86787XAA3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    151000 | PA      | $149873.49    | 0.31%             | 2027-05-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.875 04/15/30                                                   | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     96000 | PA      | $94140.98     | 0.19%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 5.75 01/15/54                                                    | CUSIP: 87264ADB8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35014.10     | 0.07%             | 2054-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Teachers Insurance and Annuity Association of America                                | TIAAGL 3.3 05/15/50 144A                                              | CUSIP: 878091BG1<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |    117000 | PA      | $80591.27     | 0.17%             | 2050-05-15      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Tyson Foods, Inc.                                                                    | TSN 5.4 03/15/29                                                      | CUSIP: 902494BL6<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |     57000 | PA      | $58960.58     | 0.12%             | 2029-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| United Air Lines, Inc.                                                               | UAL 4.625 04/15/29 144A                                               | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     76000 | PA      | $74845.77     | 0.15%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| American Express Company                                                             | AXP V5.282 07/27/29                                                   | CUSIP: 025816DH9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     93000 | PA      | $95941.01     | 0.20%             | 2029-07-27      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| American Tower Corporation                                                           | AMT 5.9 11/15/33                                                      | CUSIP: 03027XCF5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     87000 | PA      | $93256.72     | 0.19%             | 2033-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Cargill Inc.                                                                         | CARGIL 4.76 11/23/45 144A                                             | CUSIP: 141781BF0<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |     64000 | PA      | $58933.00     | 0.12%             | 2045-11-23      | Fixed         | 4.76%                 | Yes           |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                                    | Exxon Mobil Corp. COM NPV                                             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      5663 | NS      | $638503.25    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN MTG TRUST 2021-13                                                        | JPMMT 2021-13 A4                                                      | CUSIP: 46592XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    114202 | PA      | $102562.41    | 0.21%             | 2052-04-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| JPMCC Commercial Mortgage Securities Trust 2015-Jp1                                  | JPMCC 2017-JP7 A5                                                     | CUSIP: 465968AE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $166901.56    | 0.34%             | 2050-09-16      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| The Kroger Co.                                                                       | KR 5 04/15/42                                                         | CUSIP: 501044CR0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     52000 | PA      | $49368.87     | 0.10%             | 2042-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LPL Financial Holdings Inc.                                                          | LPL Financial Holdings Inc. COM USD0.001                              | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |       821 | NS      | $273138.49    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc                                                                     | Markel Group Inc COM NPV                                              | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |       318 | NS      | $607812.48    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp                                                                | Monster Beverage Corp COM USD0.005                                    | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      5070 | NS      | $341261.70    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                                                        | Netflix, Inc. COM USD0.001                                            | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       200 | NS      | $239784.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                                                         | NVIDIA Corp. COM USD0.001                                             | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     10250 | NS      | $1912445.00   | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 3.5 08/15/39                                                      | CUSIP: 91324PDT6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     87000 | PA      | $72576.68     | 0.15%             | 2039-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                                                                          | WMT 4.5 09/09/52                                                      | CUSIP: 931142EZ2<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |     51000 | PA      | $45691.49     | 0.09%             | 2052-09-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                                | LOW 4.5 04/15/30                                                      | CUSIP: 548661DU8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     92000 | PA      | $93197.74     | 0.19%             | 2030-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Macquarie Airfinance Holdings Ltd                                                    | MCAIRH 6.4 03/26/29 144A                                              | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |     70000 | PA      | $73617.42     | 0.15%             | 2029-03-26      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 3.6 04/01/34 144A                                                | CUSIP: 571676AC9<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     33000 | PA      | $30233.14     | 0.06%             | 2034-04-01      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| Marsh & McLennan Companies, Inc.                                                     | MMC 5.35 11/15/44                                                     | CUSIP: 571748CE0<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |     52000 | PA      | $51539.18     | 0.11%             | 2044-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Marvell Technology Inc                                                               | MRVL 2.95 04/15/31                                                    | CUSIP: 573874AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $79450.27     | 0.16%             | 2031-04-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| MasterCard Incorporated                                                              | MA 2 11/18/31                                                         | CUSIP: 57636QAU8<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |     91000 | PA      | $80363.60     | 0.16%             | 2031-11-18      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Mattel, Inc.                                                                         | MAT 5.45 11/01/41                                                     | CUSIP: 577081AW2<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     62000 | PA      | $57078.48     | 0.12%             | 2041-11-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance 2018-Mtg1                                          | MELLO 2021-MTG3 A9                                                    | CUSIP: 58549RAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     70569 | PA      | $63734.57     | 0.13%             | 2051-07-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V2.484 09/16/36                                                    | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     63000 | PA      | $54753.12     | 0.11%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS 3.95 04/23/27                                                      | CUSIP: 61761JZN2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     89000 | PA      | $88834.49     | 0.18%             | 2027-04-23      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Cap I Tst 2018-H3                                                     | MSC 2018-H3 A5                                                        | CUSIP: 61767YAZ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $74530.64     | 0.15%             | 2051-07-17      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| Apple Inc.                                                                           | Apple Inc. COM USD0.00001                                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      9507 | NS      | $2420767.41   | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                                                               | Applied Materials Inc. COM USD0.01                                    | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      1952 | NS      | $399652.48    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp.                                                                        | USB V4.967 07/22/33 MTN                                               | CUSIP: 91159HJG6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     56000 | PA      | $56229.45     | 0.12%             | 2033-07-22      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                                                         | Bristol-Myers Squibb Company COM USD0.10                              | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      7348 | NS      | $331394.80    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 2.987 10/30/56                                                     | CUSIP: 92343VFW9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     80000 | PA      | $49285.01     | 0.10%             | 2056-10-30      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| Videotron LTD/ Videotron LTEE                                                        | QBRCN 3.625 06/15/29 144A                                             | CUSIP: 92660FAN4<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |     98000 | PA      | $95033.51     | 0.20%             | 2029-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | Comcast Corporation COM USD0.01 CL A                                  | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      9684 | NS      | $304271.28    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2012-Lc5                                       | WFCM 2019-C51 A4                                                      | CUSIP: 95001VAU4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $160891.43    | 0.33%             | 2052-06-17      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| Western Midstream Operating LP                                                       | WES 5.25 02/01/50                                                     | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     65000 | PA      | $56555.55     | 0.12%             | 2050-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Burlington Northern Santa Fe LLC                                                     | BNSF 5.75 05/01/40                                                    | CUSIP: 12189LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $71925.57     | 0.15%             | 2040-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Cim Trust                                                                            | CIM 2021-J3 A7                                                        | CUSIP: 12565VAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    119143 | PA      | $106461.97    | 0.22%             | 2051-06-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CMS Energy Corporation                                                               | CMS V4.75 06/01/50                                                    | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    115000 | PA      | $112137.57    | 0.23%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                                                  | CSCO 4.85 02/26/29                                                    | CUSIP: 17275RBR2<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    104000 | PA      | $106736.71    | 0.22%             | 2029-02-26      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co (The)                                                                   | KO 2.5 03/15/51                                                       | CUSIP: 191216DC1<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    126000 | PA      | $77007.97     | 0.16%             | 2051-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                                                             | DE 5.1 04/11/34 MTN                                                   | CUSIP: 24422EXP9<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |     72000 | PA      | $74503.56     | 0.15%             | 2034-04-11      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | Oracle Corp. COM USD0.01                                              | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      3925 | NS      | $1103867.00   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 4.3 07/08/34                                                     | CUSIP: 68389XAV7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     24000 | PA      | $22962.50     | 0.05%             | 2034-07-08      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 2.65 07/15/26                                                    | CUSIP: 68389XBM6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     38000 | PA      | $37555.29     | 0.08%             | 2026-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                     | Philip Morris International Inc. COM NPV                              | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      4287 | NS      | $695351.40    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                                                            | RTX Corp. COM                                                         | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      2022 | NS      | $338341.26    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                                                                      | Salesforce Inc. COM USD0.001                                          | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      2427 | NS      | $575199.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| B.A.T. Capital Corporation                                                           | BATSLN 2.259 03/25/28                                                 | CUSIP: 05526DBR5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     72000 | PA      | $68800.33     | 0.14%             | 2028-03-25      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| BMW US Capital, LLC                                                                  | BMW 4.5 08/11/30 144A                                                 | CUSIP: 05565EDC6<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |     74000 | PA      | $74143.06     | 0.15%             | 2030-08-11      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V3.705 04/24/28                                                   | CUSIP: 06051GGL7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     67000 | PA      | $66569.12     | 0.14%             | 2028-04-24      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V2.687 04/22/32                                                   | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     61000 | PA      | $55587.07     | 0.11%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V5.511 01/24/36                                                   | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31355.78     | 0.06%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                                     | BMO V3.803 12/15/32                                                   | CUSIP: 06368BGS1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     77000 | PA      | $75641.81     | 0.16%             | 2032-12-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| BANK 2020-BNK26                                                                      | BANK 2020-BN26 A4                                                     | CUSIP: 06540JBG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $54700.78     | 0.11%             | 2063-03-16      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BANK 2021-BNK37                                                                      | BANK 2021-BN37 A5                                                     | CUSIP: 06540LBF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    280000 | PA      | $249144.28    | 0.51%             | 2064-11-18      | Variable      | 2.62%                 | No            |                  2 | On Loan: No      |
| Becton, Dickinson and Company                                                        | BDX 4.685 12/15/44                                                    | CUSIP: 075887BG3<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |     55000 | PA      | $49222.08     | 0.10%             | 2044-12-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Finance Corporation                                               | BRK 4.25 01/15/49                                                     | CUSIP: 084664CR0<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |     57000 | PA      | $48863.29     | 0.10%             | 2049-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                                     | BPLN 4.97 10/17/29                                                    | CUSIP: 10373QBZ2<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87564.08     | 0.18%             | 2029-10-17      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 3.419 04/15/33 144A                                              | CUSIP: 11135FBK6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     91000 | PA      | $84218.93     | 0.17%             | 2033-04-15      | Fixed         | 3.42%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 6.484 10/23/45                                                   | CUSIP: 161175BA1<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |     49000 | PA      | $48361.35     | 0.10%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SB0762                                                             | CUSIP: 3132CWZ31<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    131632 | PA      | $123741.42    | 0.25%             | 2037-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD1436                                                             | CUSIP: 3132DNSZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    270495 | PA      | $264323.86    | 0.54%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD1515                                                             | CUSIP: 3132DNVG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    237729 | PA      | $232633.32    | 0.48%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD1620                                                             | CUSIP: 3132DNYR8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    230380 | PA      | $231001.96    | 0.47%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD1638                                                             | CUSIP: 3132DNZB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    239447 | PA      | $239071.82    | 0.49%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD8212                                                             | CUSIP: 3132DWDR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    309703 | PA      | $261542.37    | 0.54%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD8220                                                             | CUSIP: 3132DWDZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    152296 | PA      | $134028.52    | 0.28%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation UMBS 30Y Fixed                                | FR QE9228                                                             | CUSIP: 3133BKHD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    257508 | PA      | $250908.56    | 0.51%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR RA7357                                                             | CUSIP: 3133KPE61<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    133388 | PA      | $130332.76    | 0.27%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR RA7483                                                             | CUSIP: 3133KPJ41<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    138890 | PA      | $131343.47    | 0.27%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation UMBS 30Y Fixed                                | FR QX4026                                                             | CUSIP: 31425YPL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    191169 | PA      | $194288.57    | 0.40%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Operating Partnership Lp                                            | INVH 4.15 04/15/32                                                    | CUSIP: 46188BAD4<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |     77000 | PA      | $74438.68     | 0.15%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Meritage Homes Corp                                                                  | MTH 3.875 04/15/29 144A                                               | CUSIP: 59001ABD3<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     92000 | PA      | $89585.74     | 0.18%             | 2029-04-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Microsoft Corp.                                                                      | MSFT 2.525 06/01/50                                                   | CUSIP: 594918CC6<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    113000 | PA      | $71424.67     | 0.15%             | 2050-06-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                                                               | MU 2.703 04/15/32                                                     | CUSIP: 595112BS1<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |     41000 | PA      | $36484.07     | 0.07%             | 2032-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                                                               | MU 6.75 11/01/29                                                      | CUSIP: 595112BV4<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |     20000 | PA      | $21736.82     | 0.04%             | 2029-11-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Touchstone Variable Series Trust

**Signature:** Terri Lucas

**Name of Signer:** Terri Lucas

**Title:** Controller & Treasurer