# EDGAR Filing Document

**Accession Number:** 0000904170
**File Stem:** 0001752724-23-038085
**Filing Date:** 2023-2
**Character Count:** 100143
**Document Hash:** de8766f64931b53e1624ff0d60461849
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-038085.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-038085

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VALUE LINE ASSET ALLOCATION FUND INC
- **CENTRAL INDEX KEY:** 0000904170
- **IRS NUMBER:** 133719750
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07702
- **FILM NUMBER:** 23663767

**BUSINESS ADDRESS:**
- **STREET 1:** 7 TIMES SQUARE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 2129071900

**MAIL ADDRESS:**
- **STREET 1:** 7 TIMES SQUARE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

## Series and Classes Contracts Data

### VALUE LINE ASSET ALLOCATION FUND INC (Series ID: S000007558)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000020616 | VALUE LINE ASSET ALLOCATION FUND INC | VLAAX           |
| C000162154 | Institutional                        | VLAIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** VALUE LINE ASSET ALLOCATION FUND INC

- **b. Investment Company Act file number:** 811-07702

- **c. CIK number of Registrant:** 0000904170

- **d. LEI of Registrant:** 549300IQJPPEZPF7LK27

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

  - **Street Address 1:** 7 TIMES SQUARE, Suite 1606

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 212-907-1900

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

- **a. Name of Series:** VALUE LINE ASSET ALLOCATION FUND INC

- **b. EDGAR series identifier (if any):** S000007558

- **c. LEI of Series:** 549300IQJPPEZPF7LK27

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $995654730.82

**Total Liabilities:** $41758219.58

**Net Assets:** $953896511.24

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -124.60000000 | **1-Year:** -6876.36000000 | **5-Year:** -28145.77000000 | **10-Year:** -26331.44000000 | **30-Year:** -8502.31000000

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

- **3-Month:** -4.17000000 | **1-Year:** -492.45000000 | **5-Year:** -809.97000000 | **10-Year:** -169.81000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000162154 | 3.45%                | 6.16%                | -3.21%               |
| Class ID C000020616 | 3.43%                | 6.13%                | -3.23%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4592914.73             | $37780852.66                               |
| Month 2  | $15150319.49             | $44701515.56                               |
| Month 3  | $5632950.58              | $-39229200.69                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ANALOG DEVICES INC                                                | Analog Devices, Inc.                                                              | CUSIP: 032654AW5<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $921748.80    | 0.10%             | 2041-10-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                           | KeyCorp                                                                           | CUSIP: 49326EEJ8<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1075417.03   | 0.11%             | 2029-10-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                                     | Citigroup, Inc.                                                                   | CUSIP: 172967HS3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1228000 | PA      | $1112420.26   | 0.12%             | 2044-05-06      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 912828R36<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8200000 | PA      | $7555851.54   | 0.79%             | 2026-05-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                                      | Comcast Corp.                                                                     | CUSIP: 20030NCT6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1273005.66   | 0.13%             | 2028-10-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Aflac Inc                                                         | Aflac, Inc.                                                                       | CUSIP: 001055BJ0<br>LEI: 549300N0B7DOGLXWPP39 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $975464.65    | 0.10%             | 2030-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Charles River Laboratories International Inc                      | Charles River Laboratories International, Inc.                                    | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |     17000 | NS      | $3704300.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems Inc                                                  | EPAM Systems, Inc.                                                                | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |     36100 | NS      | $11831414.00  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| New York City Transitional Finance Authority Building Aid Revenue | New York City Transitional Finance Authority Building Aid Revenue                 | CUSIP: 64972HRE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1238961.25   | 0.13%             | 2026-07-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES                                             | AvalonBay Communities, Inc.                                                       | CUSIP: 05348EBH1<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |   1375000 | PA      | $1140667.58   | 0.12%             | 2031-01-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                          | AerCap Ireland Capital DAC/AerCap Global Aviation Trust                           | CUSIP: 00774MAS4<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1275000 | PA      | $1123135.58   | 0.12%             | 2026-01-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                                                    | Salesforce, Inc.                                                                  | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     81000 | NS      | $10739790.00  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                                        | Intuit, Inc.                                                                      | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     72810 | NS      | $28339108.20  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140X6TL5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1149188 | PA      | $1068343.66   | 0.11%             | 2049-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                                                 | Hyatt Hotels Corp.                                                                | CUSIP: 448579AN2<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $937344.06    | 0.10%             | 2024-10-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Accenture PLC                                                     | Accenture PLC                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     72751 | NS      | $19412876.84  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                          | Enterprise Products Operating LLC                                                 | CUSIP: 29379VAW3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1132683.63   | 0.12%             | 2042-08-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Teledyne Technologies Inc                                         | Teledyne Technologies, Inc.                                                       | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |     31900 | NS      | $12757129.00  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDONALD'S CORP                                                   | McDonald's Corp.                                                                  | CUSIP: 58013MFS8<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1275731.35   | 0.13%             | 2032-09-09      | Fixed         | 4.60%                 | No            |                  2 | On Loan: —       |
| SCHLUMBERGER FIN CA                                               | Schlumberger Finance Canada Ltd.                                                  | CUSIP: 80685XAC5<br>LEI: 549300P4EXZFF0LRNF59 | Long             | DBT              | CORP              | CA        |   1175000 | PA      | $1077157.67   | 0.11%             | 2025-09-17      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| MASCO CORP                                                        | Masco Corp.                                                                       | CUSIP: 574599BP0<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $777521.91    | 0.08%             | 2030-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1125000 | PA      | $1028144.53   | 0.11%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138YX3C7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     34789 | PA      | $32482.07     | 0.00%             | 2045-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Pool Corp                                                         | Pool Corp.                                                                        | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |     34800 | NS      | $10521084.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Capital I Trust                                    | Morgan Stanley Capital I Trust                                                    | CUSIP: 61772TBC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $795810.00    | 0.08%             | 2054-10-15      | Fixed         | 2.32%                 | No            |                  2 | On Loan: No      |
| Constellation Brands Inc                                          | Constellation Brands, Inc.                                                        | CUSIP: 21036PBD9<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1202706.90   | 0.13%             | 2048-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AutoZone Inc                                                      | AutoZone, Inc.                                                                    | CUSIP: 053332AV4<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1193745.08   | 0.13%             | 2027-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                                                | Union Pacific Corp.                                                               | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     91300 | NS      | $18905491.00  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3133KYSK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    867748 | PA      | $788059.64    | 0.08%             | 2039-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association REMICS                                      | CUSIP: 3136ACA27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     25262 | PA      | $23856.24     | 0.00%             | 2028-03-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                           | John Deere Capital Corp.                                                          | CUSIP: 24422EVD8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1101560.28   | 0.12%             | 2030-01-09      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                        | AbbVie, Inc.                                                                      | CUSIP: 00287YBV0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1310000 | PA      | $1219746.10   | 0.13%             | 2026-11-21      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                           | Dell International LLC/EMC Corp.                                                  | CUSIP: 24703TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1084269.05   | 0.11%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                           | Goldman Sachs Group, Inc.                                                         | CUSIP: 38143U8H7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1059286.94   | 0.11%             | 2026-02-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                                                | NextEra Energy, Inc.                                                              | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108776 | NS      | $9093673.60   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810QA9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | PA      | $1417617.18   | 0.15%             | 2039-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                                                | Union Pacific Corp.                                                               | CUSIP: 907818FK9<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $945745.94    | 0.10%             | 2050-02-05      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810FP8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3170000 | PA      | $3488857.43   | 0.37%             | 2031-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137BEVH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1580000 | PA      | $1540136.44   | 0.16%             | 2024-09-25      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                         | Uniform Mortgage-Backed Security, TBA                                             | CUSIP: 01F042616<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  16100000 | PA      | $15508828.13  | 1.63%             | 2053-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                                           | Laboratory Corp. of America Holdings                                              | CUSIP: 50540RAW2<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $971265.59    | 0.10%             | 2029-12-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc                                      | Thermo Fisher Scientific, Inc.                                                    | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     56000 | NS      | $30838640.00  | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                                             | Costco Wholesale Corp.                                                            | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     30000 | NS      | $13695000.00  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 36179WQC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3794251 | PA      | $3491569.32   | 0.37%             | 2051-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                                          | Anheuser-Busch InBev Worldwide, Inc.                                              | CUSIP: 035240AR1<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1279370.60   | 0.13%             | 2031-01-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140KDKX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1140695 | PA      | $974651.79    | 0.10%             | 2050-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors                                      | State Street Navigator Securities Lending Government Money Market Portfolio       | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |   2368128 | NS      | $2368127.50   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN CASTLE INC                                                  | Crown Castle, Inc.                                                                | CUSIP: 22822VAK7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |   1225000 | PA      | $1139311.32   | 0.12%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| VULCAN MATERIALS CO                                               | Vulcan Materials Co.                                                              | CUSIP: 929160AZ2<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1061684.70   | 0.11%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                                 | EOG Resources, Inc.                                                               | CUSIP: 26875PAU5<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1189250.38   | 0.12%             | 2030-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137BXQY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1580000 | PA      | $1505611.70   | 0.16%             | 2027-03-25      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                         | Uniform Mortgage-Backed Security, TBA                                             | CUSIP: 01F040610<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   7260000 | PA      | $6816183.93   | 0.71%             | 2053-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tri-County Metropolitan Transportation District of Oregon         | Tri-County Metropolitan Transportation District of Oregon                         | CUSIP: 89546RRG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $918968.20    | 0.10%             | 2030-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                                            | Motorola Solutions, Inc.                                                          | CUSIP: 620076BN8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1049426.91   | 0.11%             | 2029-05-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Cintas Corp                                                       | Cintas Corp.                                                                      | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75900 | NS      | $34277958.00  | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent Inc                                                      | Exponent, Inc.                                                                    | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |     40400 | NS      | $4003236.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association REMICS                                      | CUSIP: 3136ADV30<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     41358 | PA      | $36921.51     | 0.00%             | 2042-11-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132DWC92<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    903897 | PA      | $823320.63    | 0.09%             | 2052-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138YBSS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    219521 | PA      | $204601.77    | 0.02%             | 2045-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 36179SLS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1234014 | PA      | $1155933.40   | 0.12%             | 2046-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NORTHERN TRUST CORP                                               | Northern Trust Corp.                                                              | CUSIP: 665859AV6<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1112434.47   | 0.12%             | 2030-05-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: —       |
| VISA INC                                                          | Visa, Inc.                                                                        | CUSIP: 92826CAM4<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $995364.64    | 0.10%             | 2030-04-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES                                             | TransCanada PipeLines Ltd.                                                        | CUSIP: 89352HAW9<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |   1150000 | PA      | $1090904.25   | 0.11%             | 2028-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LIFE STORAGE LP                                                   | Life Storage LP                                                                   | CUSIP: 53227JAC8<br>LEI: X0MIGH67XZCB7HL1A534 | Long             | DBT              |  | US        |   1125000 | PA      | $876703.13    | 0.09%             | 2030-10-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                             | Wells Fargo & Co.                                                                 | CUSIP: 95000U2Y8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1096601.74   | 0.11%             | 2026-04-25      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                                                 | Expedia Group, Inc.                                                               | CUSIP: 30212PAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1148066.27   | 0.12%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc                                                        | Fiserv, Inc.                                                                      | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |    118828 | NS      | $12009945.96  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31418DQ88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3110544 | PA      | $2656480.49   | 0.28%             | 2050-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137BTUM1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    875000 | PA      | $838171.34    | 0.09%             | 2026-11-25      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3133KNSE4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    854702 | PA      | $726189.49    | 0.08%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                                      | Centene Corp.                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $937043.74    | 0.10%             | 2029-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                    | Morgan Stanley                                                                    | CUSIP: 61746BDQ6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1354121.73   | 0.14%             | 2024-04-29      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                          | Charter Communications Operating LLC/Charter Communications Operating Capital     | CUSIP: 161175AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1226123.51   | 0.13%             | 2025-07-23      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Tyler Technologies Inc                                            | Tyler Technologies, Inc.                                                          | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |     52737 | NS      | $17002936.17  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140XEBH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1888099 | PA      | $1773630.17   | 0.19%             | 2052-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140X7S67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1098912 | PA      | $943663.60    | 0.10%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                       | Oracle Corp.                                                                      | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1311988.34   | 0.14%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA PLC                                                   | AstraZeneca PLC                                                                   | CUSIP: 046353AW8<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |   1375000 | PA      | $1089729.75   | 0.11%             | 2030-08-06      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| IQVIA Holdings Inc                                                | IQVIA Holdings, Inc.                                                              | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |     26900 | NS      | $5511541.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                                     | Intercontinental Exchange, Inc.                                                   | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |    289913 | NS      | $29742174.67  | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| State of Oregon                                                   | State of Oregon                                                                   | CUSIP: 68609TQ27<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $799499.25    | 0.08%             | 2036-05-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                          | Occidental Petroleum Corp.                                                        | CUSIP: 674599EE1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1146101.50   | 0.12%             | 2025-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Stryker Corp                                                      | Stryker Corp.                                                                     | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     19371 | NS      | $4736015.79   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 38378B6L8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    116490 | PA      | $110086.83    | 0.01%             | 2052-11-16      | Variable      | 2.06%                 | No            |                  2 | On Loan: No      |
| RAYTHEON TECH CORP                                                | Raytheon Technologies Corp.                                                       | CUSIP: 913017CY3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1174833.53   | 0.12%             | 2028-11-16      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                                           | HCA, Inc.                                                                         | CUSIP: 404119BR9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1199455.81   | 0.13%             | 2025-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Adobe Inc                                                         | Adobe, Inc.                                                                       | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     59900 | NS      | $20158147.00  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DISCOVER FINANCIAL SVS                                            | Discover Financial Services                                                       | CUSIP: 254709AK4<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1071371.42   | 0.11%             | 2024-11-06      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| KIMCO REALTY CORP                                                 | Kimco Realty Corp.                                                                | CUSIP: 49446RAY5<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              |  | US        |   1250000 | PA      | $963058.50    | 0.10%             | 2031-12-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Hartford County Metropolitan District Clean Water Project Revenue | Hartford County Metropolitan District Clean Water Project Revenue                 | CUSIP: 416498DH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1028979.88   | 0.11%             | 2034-04-01      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140QDEN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    858432 | PA      | $763203.77    | 0.08%             | 2050-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 912828D56<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $6756640.66   | 0.71%             | 2024-08-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                          | Prudential Financial, Inc.                                                        | CUSIP: 744320BF8<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1122125.00   | 0.12%             | 2048-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors                                      | State Street Institutional U.S. Government Money Market Fund                      | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  60808814 | NS      | $60808814.16  | 6.37%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp                                                  | W R Berkley Corp.                                                                 | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |    332256 | NS      | $24111817.92  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAGEO CAPITAL PLC                                                | Diageo Capital PLC                                                                | CUSIP: 25243YBD0<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |   1250000 | PA      | $1029725.94   | 0.11%             | 2030-04-29      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CUMMINS INC                                                       | Cummins, Inc.                                                                     | CUSIP: 231021AT3<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1022132.67   | 0.11%             | 2030-09-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd                                                       | Nutrien Ltd.                                                                      | CUSIP: 67077MAT5<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |   1225000 | PA      | $1153636.63   | 0.12%             | 2029-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Gartner Inc                                                       | Gartner, Inc.                                                                     | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |     36000 | NS      | $12101040.00  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc                                          | Marsh & McLennan Cos., Inc.                                                       | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     57300 | NS      | $9482004.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 91282CBL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1750000 | PA      | $1430830.08   | 0.15%             | 2031-02-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP                                                     | Allstate Corp.                                                                    | CUSIP: 020002BJ9<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $845271.92    | 0.09%             | 2030-12-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 912828Z94<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $8544531.20   | 0.90%             | 2030-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140XDZ25<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1624089 | PA      | $1480602.72   | 0.16%             | 2051-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                            | UnitedHealth Group, Inc.                                                          | CUSIP: 91324PBU5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1112341.44   | 0.12%             | 2041-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| San Marcos Unified School District                                | San Marcos Unified School District                                                | CUSIP: 798755GQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $345467.48    | 0.04%             | 2038-08-01      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                         | Amgen, Inc.                                                                       | CUSIP: 031162CT5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $988315.98    | 0.10%             | 2027-02-21      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| NOVARTIS CAPITAL CORP                                             | Novartis Capital Corp.                                                            | CUSIP: 66989HAS7<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $857328.54    | 0.09%             | 2050-08-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| American Financial Group Inc/OH                                   | American Financial Group, Inc.                                                    | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |     70100 | NS      | $9623328.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810SJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4500000 | PA      | $3192714.86   | 0.33%             | 2049-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                                  | Duke Energy Corp.                                                                 | CUSIP: 26441CBT1<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1201921.69   | 0.13%             | 2032-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PulteGroup Inc                                                    | PulteGroup, Inc.                                                                  | CUSIP: 745867AX9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1208000 | PA      | $1195719.12   | 0.13%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| RLI Corp                                                          | RLI Corp.                                                                         | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |     43100 | NS      | $5657737.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR GENERAL CORP                                               | Dollar General Corp.                                                              | CUSIP: 256677AG0<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1103498.87   | 0.12%             | 2030-04-03      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UBS-Barclays Commercial Mortgage Trust                            | UBS-Barclays Commercial Mortgage Trust                                            | CUSIP: 90270YBF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       884 | PA      | $882.27       | 0.00%             | 2046-03-10      | Fixed         | 3.18%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137FAWS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1825000 | PA      | $1732483.27   | 0.18%             | 2027-07-25      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                      | Enbridge, Inc.                                                                    | CUSIP: 29250NBF1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1150000 | PA      | $889452.76    | 0.09%             | 2033-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TransDigm Group Inc                                               | TransDigm Group, Inc.                                                             | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38400 | NS      | $24178560.00  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 9128285C0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9000000 | PA      | $8706796.92   | 0.91%             | 2025-09-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                                         | Hess Corp.                                                                        | CUSIP: 42809HAG2<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1195647.24   | 0.13%             | 2027-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Cadence Design Systems Inc                                        | Cadence Design Systems, Inc.                                                      | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |    147600 | NS      | $23710464.00  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                          | Ford Motor Credit Co. LLC                                                         | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1017014.45   | 0.11%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140X5NU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2783068 | PA      | $2657012.03   | 0.28%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ecolab Inc                                                        | Ecolab, Inc.                                                                      | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     31097 | NS      | $4526479.32   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137FJZ93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    750000 | PA      | $721675.35    | 0.08%             | 2028-10-25      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| Republic Services Inc                                             | Republic Services, Inc.                                                           | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |    192627 | NS      | $24846956.73  | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137F1G44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1750000 | PA      | $1667247.40   | 0.17%             | 2027-04-25      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                           | Teva Pharmaceutical Finance Netherlands III BV                                    | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $874500.00    | 0.09%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                          | AT&T, Inc.                                                                        | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $848643.14    | 0.09%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31418DVQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1489167 | PA      | $1365662.57   | 0.14%             | 2050-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137B7YY9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1800000 | PA      | $1772880.12   | 0.19%             | 2024-01-25      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132DWAH6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2187926 | PA      | $1928525.34   | 0.20%             | 2050-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City & County of San Francisco CA                                 | City & County of San Francisco                                                    | CUSIP: 7976466L5<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |    500000 | PA      | $379362.55    | 0.04%             | 2037-06-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                               | Charles Schwab Corp.                                                              | CUSIP: 808513BZ7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1241157.51   | 0.13%             | 2027-03-03      | Floating      | 5.30%                 | No            |                  2 | On Loan: —       |
| ADOBE INC                                                         | Adobe, Inc.                                                                       | CUSIP: 00724PAD1<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1068907.04   | 0.11%             | 2030-02-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138W9SE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1471270 | PA      | $1339138.08   | 0.14%             | 2043-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ZIONS BANCORP NA                                                  | Zions Bancorp NA                                                                  | CUSIP: 98971DAB6<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $901331.04    | 0.09%             | 2029-10-29      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                                                | Steel Dynamics, Inc.                                                              | CUSIP: 858119BM1<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1027825.75   | 0.11%             | 2031-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ServiceNow Inc                                                    | ServiceNow, Inc.                                                                  | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     45925 | NS      | $17831299.75  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                                    | Merck & Co., Inc.                                                                 | CUSIP: 58933YAV7<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1160447.97   | 0.12%             | 2039-03-07      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association REMICS                                   | CUSIP: 38382TQ72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   8335043 | PA      | $1251721.79   | 0.13%             | 2051-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137BQYS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $938319.20    | 0.10%             | 2026-05-25      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp                                                    | Air Lease Corp.                                                                   | CUSIP: 00912XAV6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1231912.33   | 0.13%             | 2027-04-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                                       | Netflix, Inc.                                                                     | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1115252.26   | 0.12%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Chemed Corp                                                       | Chemed Corp.                                                                      | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |     22699 | NS      | $11586250.57  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES                                            | PNC Financial Services Group, Inc.                                                | CUSIP: 693475BA2<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1014544.04   | 0.11%             | 2032-04-23      | Fixed         | 2.31%                 | No            |                  2 | On Loan: —       |
| Aon PLC                                                           | Aon PLC                                                                           | CUSIP: 000000000<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |     83700 | NS      | $25121718.00  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc                                           | O'Reilly Automotive, Inc.                                                         | CUSIP: 67103HAF4<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1107050.60   | 0.12%             | 2027-09-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3133A8WX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1087116 | PA      | $962541.85    | 0.10%             | 2050-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp. REMICS                                           | CUSIP: 3137AXK44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     45872 | PA      | $42350.74     | 0.00%             | 2033-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                             | Wells Fargo Commercial Mortgage Trust                                             | CUSIP: 94989HAF7<br>LEI: 5493002S7XBI8CVRR075 | Long             | ABS-MBS          | CORP              | US        |      3882 | PA      | $3873.47      | 0.00%             | 2048-05-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810TG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $4852500.00   | 0.51%             | 2052-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                  | T-Mobile USA, Inc.                                                                | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1035826.20   | 0.11%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                       | Equinix, Inc.                                                                     | CUSIP: 29444UBS4<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |   1200000 | PA      | $967386.52    | 0.10%             | 2031-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                                            | Roper Technologies, Inc.                                                          | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |     21100 | NS      | $9117099.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| San Diego Unified School District/CA                              | San Diego Unified School District                                                 | CUSIP: 797356DR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1118268.00   | 0.12%             | 2036-07-01      | Fixed         | 2.61%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 912828ZH6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3953437.52   | 0.41%             | 2023-04-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                                     | Amphenol Corp.                                                                    | CUSIP: 032095AL5<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $906278.31    | 0.10%             | 2031-09-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Welltower Inc                                                     | Welltower, Inc.                                                                   | CUSIP: 95040QAD6<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |   1125000 | PA      | $1056027.69   | 0.11%             | 2028-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810PW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $3158906.25   | 0.33%             | 2038-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                                           | Digital Realty Trust LP                                                           | CUSIP: 25389JAU0<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |   1250000 | PA      | $1119250.48   | 0.12%             | 2029-07-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: —       |
| MARRIOTT INTERNATIONAL                                            | Marriott International, Inc.                                                      | CUSIP: 571903BJ1<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1260050.42   | 0.13%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                              | FREMF Mortgage Trust                                                              | CUSIP: 30286XAN9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    231257 | PA      | $221152.20    | 0.02%             | 2048-02-25      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| Electronic Arts Inc                                               | Electronic Arts, Inc.                                                             | CUSIP: 285512AD1<br>LEI: 549300O7A67PUEYKDL45 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1147414.50   | 0.12%             | 2026-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Flex Ltd                                                          | Flex Ltd.                                                                         | CUSIP: 33938EAU1<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |   1200000 | PA      | $1179419.82   | 0.12%             | 2025-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31418D7H9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2521029 | PA      | $2296748.45   | 0.24%             | 2051-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132A5EU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    941747 | PA      | $876248.07    | 0.09%             | 2046-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| REGENERON PHARMACEUTICAL                                          | Regeneron Pharmaceuticals, Inc.                                                   | CUSIP: 75886FAE7<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $951750.39    | 0.10%             | 2030-09-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                          | Lloyds Banking Group PLC                                                          | CUSIP: 53944YAH6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1100000 | PA      | $1080015.44   | 0.11%             | 2024-03-12      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC                                          | Baxter International, Inc.                                                        | CUSIP: 071813CB3<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $957243.09    | 0.10%             | 2031-04-01      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3133A9JB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2141342 | PA      | $1887649.81   | 0.20%             | 2050-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Bunge Ltd Finance Corp                                            | Bunge Ltd. Finance Corp.                                                          | CUSIP: 120568AX8<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1049267.33   | 0.11%             | 2026-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                         | Uniform Mortgage-Backed Security, TBA                                             | CUSIP: 01F052615<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  15600000 | PA      | $15649871.33  | 1.64%             | 2053-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                       | Prologis LP                                                                       | CUSIP: 74340XBM2<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |   1100000 | PA      | $919149.70    | 0.10%             | 2030-04-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137FL6N9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1723829 | PA      | $1667410.28   | 0.17%             | 2028-10-25      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                               | American Express Co.                                                              | CUSIP: 025816CU1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1123785.15   | 0.12%             | 2024-05-03      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Bio-Rad Laboratories Inc                                          | Bio-Rad Laboratories, Inc.                                                        | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |     13600 | NS      | $5718664.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| VODAFONE GROUP PLC                                                | Vodafone Group PLC                                                                | CUSIP: 92857WBU3<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |   1225000 | PA      | $939705.46    | 0.10%             | 2050-09-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 91282CAY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7400000 | PA      | $6295203.09   | 0.66%             | 2027-11-30      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                                | Ally Financial, Inc.                                                              | CUSIP: 02005NBQ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1102915.10   | 0.12%             | 2027-06-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                              | Freeport-McMoRan, Inc.                                                            | CUSIP: 35671DCH6<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1178511.92   | 0.12%             | 2030-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                              | Bank of America Corp.                                                             | CUSIP: 06051GKN8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1090930.18   | 0.11%             | 2026-04-02      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31418DQH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    979610 | PA      | $840964.29    | 0.09%             | 2050-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137BSP72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1320000 | PA      | $1238006.35   | 0.13%             | 2026-08-25      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137BPW21<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1240000 | PA      | $1171315.28   | 0.12%             | 2026-03-25      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                      | Synopsys, Inc.                                                                    | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |     33800 | NS      | $10792002.00  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                                               | JPMorgan Chase & Co.                                                              | CUSIP: 46647PAL0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $938161.81    | 0.10%             | 2048-11-15      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| Danaher Corp                                                      | Danaher Corp.                                                                     | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     59738 | NS      | $15855659.96  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140J8BC6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1289465 | PA      | $1198485.17   | 0.13%             | 2047-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ANSYS Inc                                                         | ANSYS, Inc.                                                                       | CUSIP: 03662Q105<br>LEI: 549300VJV8H15Z5FJ571 | Long             | EC               | CORP              | US        |     24700 | NS      | $5967273.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc                                          | Lennox International, Inc.                                                        | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |      9500 | NS      | $2272685.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Boardwalk Pipelines LP                                            | Boardwalk Pipelines LP                                                            | CUSIP: 096630AD0<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1260247.33   | 0.13%             | 2024-12-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132DVK38<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    742489 | PA      | $685111.69    | 0.07%             | 2050-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                                          | Discovery Communications LLC                                                      | CUSIP: 25470DAL3<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1115480.78   | 0.12%             | 2026-03-11      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                 | Kinder Morgan, Inc.                                                               | CUSIP: 49456BAP6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1151483.05   | 0.12%             | 2028-03-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 36179VZT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    827880 | PA      | $768704.33    | 0.08%             | 2050-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31418D7G1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1611559 | PA      | $1418193.33   | 0.15%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810RB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5700000 | PA      | $4685578.13   | 0.49%             | 2043-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                              | Targa Resources Corp.                                                             | CUSIP: 87612KAA0<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1226964.49   | 0.13%             | 2027-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL                                             | Takeda Pharmaceutical Co. Ltd.                                                    | CUSIP: 874060AY2<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |   1050000 | PA      | $775074.23    | 0.08%             | 2040-07-09      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140XDR73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1206962 | PA      | $1136910.40   | 0.12%             | 2036-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810SA7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3306406.24   | 0.35%             | 2048-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CGI Inc                                                           | CGI, Inc.                                                                         | CUSIP: 12532H104<br>LEI: 549300WSRCZY73ZG3090 | Long             | EC               | CORP              | CA        |    155100 | NS      | $13358763.00  | 1.40%             |  |  |  | No            |                  1 | On Loan: —       |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3128MJRJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4687 | PA      | $4398.99      | 0.00%             | 2042-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                                           | Canadian Natural Resources Ltd.                                                   | CUSIP: 136385AZ4<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |   1100000 | PA      | $1024222.72   | 0.11%             | 2025-07-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| S&P Global Inc                                                    | S&P Global, Inc.                                                                  | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     92719 | NS      | $31055301.86  | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                                   | Equity LifeStyle Properties, Inc.                                                 | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |    174700 | NS      | $11285620.00  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137FEBP4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    771846 | PA      | $746253.15    | 0.08%             | 2027-11-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Becton Dickinson and Co                                           | Becton Dickinson & Co.                                                            | CUSIP: 075887BW8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1136517.88   | 0.12%             | 2027-06-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: —       |
| PAYPAL HOLDINGS INC                                               | PayPal Holdings, Inc.                                                             | CUSIP: 70450YAD5<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1062439.29   | 0.11%             | 2026-10-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                               | JPMorgan Chase & Co.                                                              | CUSIP: 46625HJZ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1088190.57   | 0.11%             | 2026-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140XD4U7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2080209 | PA      | $1920493.40   | 0.20%             | 2049-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                                            | Motorola Solutions, Inc.                                                          | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     42100 | NS      | $10849591.00  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                                                   | Fair Isaac Corp.                                                                  | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |     30700 | NS      | $18376406.00  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                                            | IDEXX Laboratories, Inc.                                                          | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     36800 | NS      | $15012928.00  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                                                     | Citigroup, Inc.                                                                   | CUSIP: 172967MF5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1182053.67   | 0.12%             | 2025-04-24      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| COSTCO WHOLESALE CORP                                             | Costco Wholesale Corp.                                                            | CUSIP: 22160KAQ8<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1032822.49   | 0.11%             | 2032-04-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                   | CVS Health Corp.                                                                  | CUSIP: 126650DN7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1087088.02   | 0.11%             | 2030-08-21      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                                              | Utah Acquisition Sub, Inc.                                                        | CUSIP: 62854AAN4<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1029568.46   | 0.11%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810QY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $8072265.60   | 0.85%             | 2042-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CSX CORP                                                          | CSX Corp.                                                                         | CUSIP: 126408HR7<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $906312.01    | 0.10%             | 2049-09-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-18

**Name of Applicant:** VALUE LINE ASSET ALLOCATION FUND INC

**Signature:** Jim Gallo

**Name of Signer:** Jim Gallo

**Title:** Treasurer