# EDGAR Filing Document

**Accession Number:** 0000918942
**File Stem:** 0000894189-25-014074
**Filing Date:** 2025-11
**Character Count:** 66932
**Document Hash:** 2f19408c28fe1471b8ae460e63b63101
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-014074.hdr.sgml**: 20251119

**ACCESSION NUMBER**: 0000894189-25-014074

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251119

**DATE AS OF CHANGE**: 20251119

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LKCM Funds
- **CENTRAL INDEX KEY:** 0000918942

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08352
- **FILM NUMBER:** 251500200

**BUSINESS ADDRESS:**
- **STREET 1:** 301 COMMERCE
- **STREET 2:** SUITE 1600
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102
- **BUSINESS PHONE:** 817-332-3235

**MAIL ADDRESS:**
- **STREET 1:** 301 COMMERCE
- **STREET 2:** SUITE 1600
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** U.S. Bancorp Fund Services, LLC
- **DATE OF NAME CHANGE:** 20040819

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LKCM FUND
- **DATE OF NAME CHANGE:** 19940211

## Series and Classes Contracts Data

### LKCM Fixed Income Fund (Series ID: S000004606)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000012574 | LKCM Fixed Income Fund | LKFIX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **LKCM Fixed Income Fund** | **LKCM Fixed Income Fund** | **LKCM Fixed Income Fund** | **LKCM Fixed Income Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **CORPORATE BONDS - 74.2%** | **CORPORATE BONDS - 74.2%** | **Par** | **Value**  |
| **Aerospace & Defense - 6.0%** | **Aerospace & Defense - 6.0%** | **Aerospace & Defense - 6.0%** | **Aerospace & Defense - 6.0%** |
| L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. |
| &nbsp;&nbsp; 5.05%, 06/01/2029 (Callable 05/01/2029) | &nbsp;&nbsp; 5.05%, 06/01/2029 (Callable 05/01/2029) | $4000000 | $4115683 |
| &nbsp;&nbsp; 5.40%, 07/31/2033 (Callable 04/30/2033) | &nbsp;&nbsp; 5.40%, 07/31/2033 (Callable 04/30/2033) | 5525000 | 5762121 |
| RTX Corp. | RTX Corp. | RTX Corp. | RTX Corp. |
| &nbsp;&nbsp; 5.75%, 01/15/2029 (Callable 12/15/2028) | &nbsp;&nbsp; 5.75%, 01/15/2029 (Callable 12/15/2028) | 4000000 | 4196338 |
| &nbsp;&nbsp; 5.15%, 02/27/2033 (Callable 11/27/2032) | &nbsp;&nbsp; 5.15%, 02/27/2033 (Callable 11/27/2032) | 2750000 | 2849526 |
|  |  |  | 16923668 |
| **Banks - 5.3%** | **Banks - 5.3%** | **Banks - 5.3%** | **Banks - 5.3%** |
| Bank of America Corp. | Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
| &nbsp;&nbsp; 4.45%, 03/03/2026 | &nbsp;&nbsp; 4.45%, 03/03/2026 | 2000000 | 2001505 |
| &nbsp;&nbsp; 4.25%, 10/22/2026 | &nbsp;&nbsp; 4.25%, 10/22/2026 | 5000000 | 5007809 |
|  Cullen/Frost Bankers, Inc., 4.50%, 03/17/2027 (Callable 02/17/2027) | Cullen/Frost Bankers, Inc., 4.50%, 03/17/2027 (Callable 02/17/2027) | 3942000 | 3906483 |
| JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
| &nbsp;&nbsp; 3.30%, 04/01/2026 (Callable 01/01/2026) | &nbsp;&nbsp; 3.30%, 04/01/2026 (Callable 01/01/2026) | 3500000 | 3487643 |
| &nbsp;&nbsp; 3.20%, 06/15/2026 (Callable 03/15/2026) | &nbsp;&nbsp; 3.20%, 06/15/2026 (Callable 03/15/2026) | 636000 | 632486 |
|  |  |  | 15035926 |
| **Beverages - 0.8%** | **Beverages - 0.8%** | **Beverages - 0.8%** | **Beverages - 0.8%** |
|  Keurig Dr Pepper, Inc., 2.55%, 09/15/2026 (Callable 06/15/2026) | Keurig Dr Pepper, Inc., 2.55%, 09/15/2026 (Callable 06/15/2026) | 2225000 | 2193358 |
| **Biotechnology - 3.1%** | **Biotechnology - 3.1%** | **Biotechnology - 3.1%** | **Biotechnology - 3.1%** |
|  AbbVie, Inc., 4.95%, 03/15/2031 (Callable 01/15/2031) | AbbVie, Inc., 4.95%, 03/15/2031 (Callable 01/15/2031) | 4000000 | 4136650 |
| Amgen, Inc. | Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
| &nbsp;&nbsp; 2.60%, 08/19/2026 (Callable 05/19/2026) | &nbsp;&nbsp; 2.60%, 08/19/2026 (Callable 05/19/2026) | 1000000 | 987192 |
| &nbsp;&nbsp; 5.25%, 03/02/2033 (Callable 12/02/2032) | &nbsp;&nbsp; 5.25%, 03/02/2033 (Callable 12/02/2032) | 3500000 | 3627527 |
|  |  |  | 8751369 |
| **Chemicals - 0.9%** | **Chemicals - 0.9%** | **Chemicals - 0.9%** | **Chemicals - 0.9%** |
| Ecolab, Inc. | Ecolab, Inc. | Ecolab, Inc. | Ecolab, Inc. |
| &nbsp;&nbsp; 2.70%, 11/01/2026 (Callable 08/01/2026) | &nbsp;&nbsp; 2.70%, 11/01/2026 (Callable 08/01/2026) | 2000000 | 1974506 |
| &nbsp;&nbsp; 4.80%, 03/24/2030 (Callable 12/24/2029) | &nbsp;&nbsp; 4.80%, 03/24/2030 (Callable 12/24/2029) | 500000 | 513306 |
|  |  |  | 2487812 |
| **Commercial Services & Supplies - 5.3%** | **Commercial Services & Supplies - 5.3%** | **Commercial Services & Supplies - 5.3%** | **Commercial Services & Supplies - 5.3%** |
| Republic Services, Inc. | Republic Services, Inc. | Republic Services, Inc. | Republic Services, Inc. |
| &nbsp;&nbsp; 4.75%, 07/15/2030 (Callable 06/15/2030) | &nbsp;&nbsp; 4.75%, 07/15/2030 (Callable 06/15/2030) | 4000000 | 4101182 |
| &nbsp;&nbsp; 5.00%, 04/01/2034 (Callable 01/01/2034) | &nbsp;&nbsp; 5.00%, 04/01/2034 (Callable 01/01/2034) | 2500000 | 2566262 |
| Waste Management, Inc. | Waste Management, Inc. | Waste Management, Inc. | Waste Management, Inc. |
| &nbsp;&nbsp; 4.50%, 03/15/2028 (Callable 02/15/2028) | &nbsp;&nbsp; 4.50%, 03/15/2028 (Callable 02/15/2028) | 5800000 | 5872856 |
| &nbsp;&nbsp; 4.63%, 02/15/2030 (Callable 12/15/2029) | &nbsp;&nbsp; 4.63%, 02/15/2030 (Callable 12/15/2029) | 2370000 | 2412529 |
|  |  |  | 14952829 |
| **Consumer Finance - 0.7%** | **Consumer Finance - 0.7%** | **Consumer Finance - 0.7%** | **Consumer Finance - 0.7%** |
|  American Express Co., 4.20%, 11/06/2025 (Callable 10/06/2025) | American Express Co., 4.20%, 11/06/2025 (Callable 10/06/2025) | 2000000 | 1999955 |
| **Diversified Telecommunication Services - 3.2%** | **Diversified Telecommunication Services - 3.2%** | **Diversified Telecommunication Services - 3.2%** | **Diversified Telecommunication Services - 3.2%** |
|  AT&T, Inc., 4.25%, 03/01/2027 (Callable 12/01/2026) | AT&T, Inc., 4.25%, 03/01/2027 (Callable 12/01/2026) | 4235000 | 4244843 |
| Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
| &nbsp;&nbsp; 4.13%, 03/16/2027 | &nbsp;&nbsp; 4.13%, 03/16/2027 | 2000000 | 2002284 |
| &nbsp;&nbsp; 2.10%, 03/22/2028 (Callable 01/22/2028) | &nbsp;&nbsp; 2.10%, 03/22/2028 (Callable 01/22/2028) | 3000000 | 2862263 |
|  |  |  | 9109390 |
| **Electric Utilities - 1.6%** | **Electric Utilities - 1.6%** | **Electric Utilities - 1.6%** | **Electric Utilities - 1.6%** |
| Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. |
| &nbsp;&nbsp; 4.50%, 08/15/2032 (Callable 05/15/2032) | &nbsp;&nbsp; 4.50%, 08/15/2032 (Callable 05/15/2032) | 2000000 | 1989270 |
| &nbsp;&nbsp; 5.75%, 09/15/2033 (Callable 06/15/2033) | &nbsp;&nbsp; 5.75%, 09/15/2033 (Callable 06/15/2033) | 2500000 | 2659514 |
|  |  |  | 4648784 |
| **Electrical Equipment - 1.2%** | **Electrical Equipment - 1.2%** | **Electrical Equipment - 1.2%** | **Electrical Equipment - 1.2%** |
|  Emerson Electric Co., 5.00%, 03/15/2035 (Callable 12/15/2034) | Emerson Electric Co., 5.00%, 03/15/2035 (Callable 12/15/2034) | 3450000 | 3544477 |
| **Electronic Equipment, Instruments & Components - 1.9%** | **Electronic Equipment, Instruments & Components - 1.9%** | **Electronic Equipment, Instruments & Components - 1.9%** | **Electronic Equipment, Instruments & Components - 1.9%** |
|  Trimble, Inc., 6.10%, 03/15/2033 (Callable 12/15/2032) | Trimble, Inc., 6.10%, 03/15/2033 (Callable 12/15/2032) | 5000000 | 5386132 |
| **Entertainment - 0.7%** | **Entertainment - 0.7%** | **Entertainment - 0.7%** | **Entertainment - 0.7%** |
|  Netflix, Inc., 4.90%, 08/15/2034 (Callable 05/15/2034) | Netflix, Inc., 4.90%, 08/15/2034 (Callable 05/15/2034) | 2000000 | 2064004 |
| **Financial Services - 2.2%** | **Financial Services - 2.2%** | **Financial Services - 2.2%** | **Financial Services - 2.2%** |
| Fiserv, Inc. | Fiserv, Inc. | Fiserv, Inc. | Fiserv, Inc. |
| &nbsp;&nbsp; 5.15%, 03/15/2027 (Callable 02/15/2027) | &nbsp;&nbsp; 5.15%, 03/15/2027 (Callable 02/15/2027) | 3000000 | 3040971 |
| &nbsp;&nbsp; 5.35%, 03/15/2031 (Callable 01/15/2031) | &nbsp;&nbsp; 5.35%, 03/15/2031 (Callable 01/15/2031) | 3000000 | 3123281 |
|  |  |  | 6164252 |
| **GICS~Diversified Telecommunication Services - 1.9%** | **GICS~Diversified Telecommunication Services - 1.9%** | **GICS~Diversified Telecommunication Services - 1.9%** | **GICS~Diversified Telecommunication Services - 1.9%** |
|  T-Mobile USA, Inc., 4.75%, 02/01/2028 (Callable 10/11/2025) | T-Mobile USA, Inc., 4.75%, 02/01/2028 (Callable 10/11/2025) | 5500000 | 5508557 |
| **Health Care Equipment & Supplies - 3.7%** | **Health Care Equipment & Supplies - 3.7%** | **Health Care Equipment & Supplies - 3.7%** | **Health Care Equipment & Supplies - 3.7%** |
|  Abbott Laboratories, 4.75%, 11/30/2036 (Callable 05/30/2036) | Abbott Laboratories, 4.75%, 11/30/2036 (Callable 05/30/2036) | 200000 | 201898 |
| Stryker Corp. | Stryker Corp. | Stryker Corp. | Stryker Corp. |
| &nbsp;&nbsp; 4.25%, 09/11/2029 (Callable 08/11/2029) | &nbsp;&nbsp; 4.25%, 09/11/2029 (Callable 08/11/2029) | 2500000 | 2508286 |
| &nbsp;&nbsp; 4.85%, 02/10/2030 (Callable 01/10/2030) | &nbsp;&nbsp; 4.85%, 02/10/2030 (Callable 01/10/2030) | 7500000 | 7690973 |
|  |  |  | 10401157 |
| **Health Care Providers & Services - 1.4%** | **Health Care Providers & Services - 1.4%** | **Health Care Providers & Services - 1.4%** | **Health Care Providers & Services - 1.4%** |
|  UnitedHealth Group, Inc., 4.25%, 01/15/2029 (Callable 12/15/2028) | UnitedHealth Group, Inc., 4.25%, 01/15/2029 (Callable 12/15/2028) | 4000000 | 4013245 |
| **Hotels, Restaurants & Leisure - 0.9%** | **Hotels, Restaurants & Leisure - 0.9%** | **Hotels, Restaurants & Leisure - 0.9%** | **Hotels, Restaurants & Leisure - 0.9%** |
|  McDonald's Corp., 3.50%, 07/01/2027 (Callable 05/01/2027) | McDonald's Corp., 3.50%, 07/01/2027 (Callable 05/01/2027) | 2500000 | 2481520 |
| **Insurance - 1.9%** | **Insurance - 1.9%** | **Insurance - 1.9%** | **Insurance - 1.9%** |
|  Arthur J Gallagher & Co., 5.00%, 02/15/2032 (Callable 12/15/2031) | Arthur J Gallagher & Co., 5.00%, 02/15/2032 (Callable 12/15/2031) | 5250000 | 5362363 |
| **Interactive Media & Services - 2.7%** | **Interactive Media & Services - 2.7%** | **Interactive Media & Services - 2.7%** | **Interactive Media & Services - 2.7%** |
| Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. |
| &nbsp;&nbsp; 4.60%, 05/15/2028 (Callable 04/15/2028) | &nbsp;&nbsp; 4.60%, 05/15/2028 (Callable 04/15/2028) | 2500000 | 2552026 |
| &nbsp;&nbsp; 4.80%, 05/15/2030 (Callable 03/15/2030) | &nbsp;&nbsp; 4.80%, 05/15/2030 (Callable 03/15/2030) | 2950000 | 3047366 |
| &nbsp;&nbsp; 4.75%, 08/15/2034 (Callable 05/15/2034) | &nbsp;&nbsp; 4.75%, 08/15/2034 (Callable 05/15/2034) | 2000000 | 2026734 |
|  |  |  | 7626126 |
| **Life Sciences Tools & Services - 1.5%** | **Life Sciences Tools & Services - 1.5%** | **Life Sciences Tools & Services - 1.5%** | **Life Sciences Tools & Services - 1.5%** |
|  Thermo Fisher Scientific, Inc., 5.09%, 08/10/2033 (Callable 05/10/2033) | Thermo Fisher Scientific, Inc., 5.09%, 08/10/2033 (Callable 05/10/2033) | 4000000 | 4150428 |
| **Oil, Gas & Consumable Fuels - 9.0%** | **Oil, Gas & Consumable Fuels - 9.0%** | **Oil, Gas & Consumable Fuels - 9.0%** | **Oil, Gas & Consumable Fuels - 9.0%** |
|  Chevron Corp., 2.95%, 05/16/2026 (Callable 02/16/2026) | Chevron Corp., 2.95%, 05/16/2026 (Callable 02/16/2026) | 1870000 | 1858624 |
|  ConocoPhillips Co., 5.05%, 09/15/2033 (Callable 06/15/2033) | ConocoPhillips Co., 5.05%, 09/15/2033 (Callable 06/15/2033) | 2000000 | 2061978 |
|  Devon Energy Corp., 4.50%, 01/15/2030 (Callable 10/11/2025) | Devon Energy Corp., 4.50%, 01/15/2030 (Callable 10/11/2025) | 4000000 | 4007378 |
|  Kinder Morgan, Inc., 5.20%, 06/01/2033 (Callable 03/01/2033) | Kinder Morgan, Inc., 5.20%, 06/01/2033 (Callable 03/01/2033) | 7300000 | 7476128 |
| ONEOK, Inc. | ONEOK, Inc. | ONEOK, Inc. | ONEOK, Inc. |
| &nbsp;&nbsp; 5.55%, 11/01/2026 (Callable 10/01/2026) | &nbsp;&nbsp; 5.55%, 11/01/2026 (Callable 10/01/2026) | 2500000 | 2532675 |
| &nbsp;&nbsp; 6.35%, 01/15/2031 (Callable 10/15/2030) | &nbsp;&nbsp; 6.35%, 01/15/2031 (Callable 10/15/2030) | 2000000 | 2149111 |
| &nbsp;&nbsp; 6.05%, 09/01/2033 (Callable 06/01/2033) | &nbsp;&nbsp; 6.05%, 09/01/2033 (Callable 06/01/2033) | 5000000 | 5304600 |
|  |  |  | 25390494 |
| **Other Management Consulting Services - 0.7%** | **Other Management Consulting Services - 0.7%** | **Other Management Consulting Services - 0.7%** | **Other Management Consulting Services - 0.7%** |
|  Accenture Capital, Inc., 4.50%, 10/04/2034 (Callable 07/04/2034) | Accenture Capital, Inc., 4.50%, 10/04/2034 (Callable 07/04/2034) | 2000000 | 1973977 |
| **Semiconductors & Semiconductor Equipment - 2.9%** | **Semiconductors & Semiconductor Equipment - 2.9%** | **Semiconductors & Semiconductor Equipment - 2.9%** | **Semiconductors & Semiconductor Equipment - 2.9%** |
| Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. |
| &nbsp;&nbsp; 5.00%, 04/15/2030 (Callable 01/15/2030) | &nbsp;&nbsp; 5.00%, 04/15/2030 (Callable 01/15/2030) | 2500000 | 2578514 |
| &nbsp;&nbsp; 5.15%, 11/15/2031 (Callable 09/15/2031) | &nbsp;&nbsp; 5.15%, 11/15/2031 (Callable 09/15/2031) | 5500000 | 5717998 |
|  |  |  | 8296512 |
| **Software - 6.2%** | **Software - 6.2%** | **Software - 6.2%** | **Software - 6.2%** |
|  Adobe, Inc., 4.80%, 04/04/2029 (Callable 03/04/2029) | Adobe, Inc., 4.80%, 04/04/2029 (Callable 03/04/2029) | 700000 | 719205 |
|  Intuit, Inc., 5.20%, 09/15/2033 (Callable 06/15/2033) | Intuit, Inc., 5.20%, 09/15/2033 (Callable 06/15/2033) | 2500000 | 2615969 |
| Oracle Corp. | Oracle Corp. | Oracle Corp. | Oracle Corp. |
| &nbsp;&nbsp; 2.65%, 07/15/2026 (Callable 04/15/2026) | &nbsp;&nbsp; 2.65%, 07/15/2026 (Callable 04/15/2026) | 2000000 | 1977080 |
| &nbsp;&nbsp; 6.15%, 11/09/2029 (Callable 09/09/2029) | &nbsp;&nbsp; 6.15%, 11/09/2029 (Callable 09/09/2029) | 3000000 | 3200695 |
| &nbsp;&nbsp; 4.90%, 02/06/2033 (Callable 11/06/2032) | &nbsp;&nbsp; 4.90%, 02/06/2033 (Callable 11/06/2032) | 3000000 | 3026058 |
|  Roper Technologies, Inc., 4.90%, 10/15/2034 (Callable 07/15/2034) | Roper Technologies, Inc., 4.90%, 10/15/2034 (Callable 07/15/2034) | 6000000 | 6009796 |
|  |  |  | 17548803 |
| **Specialized REITs - 4.3%** | **Specialized REITs - 4.3%** | **Specialized REITs - 4.3%** | **Specialized REITs - 4.3%** |
| American Tower Corp. | American Tower Corp. | American Tower Corp. | American Tower Corp. |
| &nbsp;&nbsp; 3.38%, 10/15/2026 (Callable 07/15/2026) | &nbsp;&nbsp; 3.38%, 10/15/2026 (Callable 07/15/2026) | 4030000 | 4001272 |
| &nbsp;&nbsp; 5.25%, 07/15/2028 (Callable 06/15/2028) | &nbsp;&nbsp; 5.25%, 07/15/2028 (Callable 06/15/2028) | 4200000 | 4321299 |
| &nbsp;&nbsp; 4.05%, 03/15/2032 (Callable 12/15/2031) | &nbsp;&nbsp; 4.05%, 03/15/2032 (Callable 12/15/2031) | 4050000 | 3926579 |
|  |  |  | 12249150 |
| **Specialty Retail - 4.2%** | **Specialty Retail - 4.2%** | **Specialty Retail - 4.2%** | **Specialty Retail - 4.2%** |
|  Lowe's Cos., Inc., 2.50%, 04/15/2026 (Callable 01/15/2026) | Lowe's Cos., Inc., 2.50%, 04/15/2026 (Callable 01/15/2026) | 1000000 | 992271 |
| O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. | O'Reilly Automotive, Inc. |
| &nbsp;&nbsp; 4.35%, 06/01/2028 (Callable 03/01/2028) | &nbsp;&nbsp; 4.35%, 06/01/2028 (Callable 03/01/2028) | 675000 | 679460 |
| &nbsp;&nbsp; 4.20%, 04/01/2030 (Callable 01/01/2030) | &nbsp;&nbsp; 4.20%, 04/01/2030 (Callable 01/01/2030) | 2325000 | 2319051 |
| &nbsp;&nbsp; 4.70%, 06/15/2032 (Callable 03/15/2032) | &nbsp;&nbsp; 4.70%, 06/15/2032 (Callable 03/15/2032) | 2750000 | 2774265 |
|  Tractor Supply Co., 5.25%, 05/15/2033 (Callable 02/15/2033) | Tractor Supply Co., 5.25%, 05/15/2033 (Callable 02/15/2033) | 5000000 | 5164679 |
|  |  |  | 11929726 |
| **TOTAL CORPORATE BONDS** (Cost $206,990,618) | **TOTAL CORPORATE BONDS** (Cost $206,990,618) | **TOTAL CORPORATE BONDS** (Cost $206,990,618) | 210194014 |
| **U.S. GOVERNMENT SPONSORED ENTITIES - 11.4%** | **U.S. GOVERNMENT SPONSORED ENTITIES - 11.4%** | **Par** | **Value**  |
| Federal Home Loan Banks | Federal Home Loan Banks | Federal Home Loan Banks | Federal Home Loan Banks |
| &nbsp;&nbsp; 2.25%, 10/28/2025 <sup>(a)</sup> | &nbsp;&nbsp; 2.25%, 10/28/2025 <sup>(a)</sup> | 3000000 | 2995790 |
| &nbsp;&nbsp; 4.50%, 11/12/2025 <sup>(a)</sup> | &nbsp;&nbsp; 4.50%, 11/12/2025 <sup>(a)</sup> | 1505000 | 1505457 |
| &nbsp;&nbsp; 3.00%, 02/17/2026 <sup>(a)</sup> | &nbsp;&nbsp; 3.00%, 02/17/2026 <sup>(a)</sup> | 2500000 | 2490659 |
| &nbsp;&nbsp; 2.38%, 03/13/2026 | &nbsp;&nbsp; 2.38%, 03/13/2026 | 3575000 | 3548946 |
| &nbsp;&nbsp; 2.00%, 03/30/2026 <sup>(a)</sup> | &nbsp;&nbsp; 2.00%, 03/30/2026 <sup>(a)</sup> | 3000000 | 2972453 |
| &nbsp;&nbsp; 2.00%, 05/26/2026 <sup>(a)</sup> | &nbsp;&nbsp; 2.00%, 05/26/2026 <sup>(a)</sup> | 2500000 | 2470969 |
| &nbsp;&nbsp; 2.00%, 10/28/2026 (Callable 10/28/2025) <sup>(a)</sup> | &nbsp;&nbsp; 2.00%, 10/28/2026 (Callable 10/28/2025) <sup>(a)</sup> | 3000000 | 2967766 |
| &nbsp;&nbsp; 2.50%, 01/25/2027 (Callable 10/25/2025) <sup>(a)</sup> | &nbsp;&nbsp; 2.50%, 01/25/2027 (Callable 10/25/2025) <sup>(a)</sup> | 2500000 | 2479149 |
| &nbsp;&nbsp; 4.50%, 09/29/2027 | &nbsp;&nbsp; 4.50%, 09/29/2027 | 1750000 | 1777535 |
| &nbsp;&nbsp; 1.75%, 11/16/2028 (Callable 11/16/2025) <sup>(a)</sup> | &nbsp;&nbsp; 1.75%, 11/16/2028 (Callable 11/16/2025) <sup>(a)</sup> | 3000000 | 2895738 |
| &nbsp;&nbsp; 2.82%, 06/27/2029 (Callable 10/08/2025) | &nbsp;&nbsp; 2.82%, 06/27/2029 (Callable 10/08/2025) | 4000000 | 3861774 |
| &nbsp;&nbsp; 2.00%, 12/15/2033 (Callable 12/15/2025) <sup>(a)</sup> | &nbsp;&nbsp; 2.00%, 12/15/2033 (Callable 12/15/2025) <sup>(a)</sup> | 2500000 | 2295871 |
| **TOTAL U.S. GOVERNMENT SPONSORED ENTITIES** (Cost $32,829,819) | **TOTAL U.S. GOVERNMENT SPONSORED ENTITIES** (Cost $32,829,819) | **TOTAL U.S. GOVERNMENT SPONSORED ENTITIES** (Cost $32,829,819) | 32262107 |
| **U.S. GOVERNMENT ISSUES - 6.9%** | **U.S. GOVERNMENT ISSUES - 6.9%** | **Par** | **Value**  |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 4.25%, 01/31/2026 | &nbsp;&nbsp; 4.25%, 01/31/2026 | 2000000 | 2001688 |
| &nbsp;&nbsp; 4.63%, 11/15/2026 | &nbsp;&nbsp; 4.63%, 11/15/2026 | 500000 | 504980 |
| &nbsp;&nbsp; 4.13%, 09/30/2027 | &nbsp;&nbsp; 4.13%, 09/30/2027 | 400000 | 403961 |
| &nbsp;&nbsp; 4.00%, 10/31/2029 | &nbsp;&nbsp; 4.00%, 10/31/2029 | 2000000 | 2023438 |
| &nbsp;&nbsp; 4.13%, 11/15/2032 | &nbsp;&nbsp; 4.13%, 11/15/2032 | 8500000 | 8601934 |
| &nbsp;&nbsp; 4.50%, 11/15/2033 | &nbsp;&nbsp; 4.50%, 11/15/2033 | 3000000 | 3102715 |
| &nbsp;&nbsp; 4.00%, 02/15/2034 | &nbsp;&nbsp; 4.00%, 02/15/2034 | 3000000 | 2993027 |
| **TOTAL U.S. GOVERNMENT ISSUES** (Cost $19,710,834) | **TOTAL U.S. GOVERNMENT ISSUES** (Cost $19,710,834) | **TOTAL U.S. GOVERNMENT ISSUES** (Cost $19,710,834) | 19631743 |
| **U.S. TREASURY SECURITIES - 4.6%** | **U.S. TREASURY SECURITIES - 4.6%** | **Par** | **Value**  |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 4.13%, 06/15/2026 | &nbsp;&nbsp; 4.13%, 06/15/2026 | 1000000 | 1002379 |
| &nbsp;&nbsp; 4.50%, 05/15/2027 | &nbsp;&nbsp; 4.50%, 05/15/2027 | 2300000 | 2330592 |
| &nbsp;&nbsp; 4.00%, 07/31/2030 | &nbsp;&nbsp; 4.00%, 07/31/2030 | 2000000 | 2023359 |
| &nbsp;&nbsp; 5.38%, 02/15/2031 | &nbsp;&nbsp; 5.38%, 02/15/2031 | 2500000 | 2692676 |
| &nbsp;&nbsp; 4.25%, 11/15/2034 | &nbsp;&nbsp; 4.25%, 11/15/2034 | 5000000 | 5058008 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $12,822,761) | **TOTAL U.S. TREASURY SECURITIES** (Cost $12,822,761) | **TOTAL U.S. TREASURY SECURITIES** (Cost $12,822,761) | 13107014 |
| **SHORT-TERM INVESTMENTS**<br> ****  | **SHORT-TERM INVESTMENTS**<br> ****  | **SHORT-TERM INVESTMENTS**<br> ****  | **SHORT-TERM INVESTMENTS**<br> ****  |
| **SHORT-TERM INVESTMENTS - 2.0%** | **SHORT-TERM INVESTMENTS - 2.0%** |  | **Value**  |
| Invesco Short-Term Investments Trust - Government & Agency Portfolio - Institutional Shares - Institutional Class, 4.06%<sup>(b)</sup> | Invesco Short-Term Investments Trust - Government & Agency Portfolio - Institutional Shares - Institutional Class, 4.06%<sup>(b)</sup> | 5530849 | 5530849 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $5,530,849) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $5,530,849) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $5,530,849) | 5530849 |
| **TOTAL INVESTMENTS - 99.1% (**Cost $277,884,881**)** | **TOTAL INVESTMENTS - 99.1% (**Cost $277,884,881**)** | **TOTAL INVESTMENTS - 99.1% (**Cost $277,884,881**)** | 280725727 |
| Other Assets in Excess of Liabilities - 0.9% | Other Assets in Excess of Liabilities - 0.9% | Other Assets in Excess of Liabilities - 0.9% | 2428299 |
| **TOTAL NET ASSETS - 100.0%** | 0.0% | 0.0% | $283154026 |
| two | two | two | –% |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

(a) Step coupon bond. The rate disclosed is as of September 30, 2025.

(b) The rate shown represents the 7-day annualized yield as of September 30, 2025.

Investments are classified by industry pursuant to the Global Industry Classification Standard ("GICS<sup>®</sup>"), which was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

------

#### Fair Value Measurement Summary at September 30, 2025 (Unaudited)
Equity securities listed or traded on a U.S. securities exchange for which market quotations are readily available are valued at the last quoted sale price on the exchange on which the security is primarily traded. Nasdaq Global Market securities are valued at the Nasdaq Official Closing Price ("NOCP"). Unlisted U.S. equity securities and listed U.S. equity securities not traded on a particular valuation date are valued at the mean of the most recent quoted bid and ask price on the relevant exchanges or markets. Equity securities listed on a foreign exchange for which market quotations are readily available are valued at the last quoted sales price on the exchange on which the security is primarily traded. Debt securities are normally valued at the mean of the closing bid and ask price and/or by using a combination of broker quotations or evaluated prices provided by an independent pricing service. Futures contracts and options on futures contracts are valued at the settlement prices established each day on the principal exchange on which they are traded. Forward contracts are valued based on the forward rate using information provided by an independent pricing service. Other assets and securities for which no market or broker quotations or evaluated prices are readily available are valued by the Adviser in good faith at fair value. Rule 2a-5 under the Investment Company Act of 1940 (the "Valuation Rule") establishes requirements for determining fair value in good faith for purposes of the 1940 Act, including related oversight and reporting requirements. The Valuation Rule also defines when market quotations are "readily available" for purposes of the 1940 Act, the threshold for determining whether a security must be fair valued. In many cases, fixed-income and foreign securities are not considered to have a "readily available market quotation" under the Valuation Rule. Accordingly, such securities typically are fair valued. The Valuation Rule permits the Fund's board to designate the Fund's investment adviser as "valuation designee" to perform the Fund's fair value determinations subject to board oversight and certain reporting and other requirements intended to ensure that the registered investment company's board receives the information it needs to oversee the investment adviser's fair value determinations. The Board has designated the Adviser as valuation designee under the Valuation Rule to perform fair value functions in accordance with the requirements of the Valuation Rule. The Adviser may value securities at fair value in good faith pursuant to the Adviser's and the Fund's procedures. The Adviser may use prices provided by independent pricing services to assist in the fair valuation of the Fund's portfolio securities.

The Trust has adopted accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period. These standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy is organized into three levels based upon the assumptions (referred to as "inputs") used in pricing the asset or liability. These standards state that "observable inputs" reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from independent sources and "unobservable inputs" reflect an entity's own assumptions about the assumptions market participants would use in pricing the asset or liability. These inputs are summarized in the three broad levels listed below.

Level 1 - Quoted unadjusted prices for identical instruments in active markets to which the Trust has access at the date of measurement.

Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 2 inputs are those in markets for which there are few transactions, the prices are not current, little public information exists or instances where prices vary substantially over time or among brokered market makers.

Level 3 - Model derived valuations in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are those inputs that reflect the Trust's own assumptions that market participants would use to price the asset or liability based on the best available information.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. As of September 30, 2025, the Fund's assets carried at fair value were classified as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | $– | $210194014 | $– | $210194014 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Sponsored Entities | – | 32262107 | – | 32262107 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Issues | – | 19631743 | – | 19631743 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | – | 13107014 | – | 13107014 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | 5530849 | – | – | 5530849 |
| Total Investments\* | $5530849 | $275194878 | $– | $280725727 |
| \*Additional information regarding the industry classifications of these investments is disclosed in the Schedule of Investments. | \*Additional information regarding the industry classifications of these investments is disclosed in the Schedule of Investments. | \*Additional information regarding the industry classifications of these investments is disclosed in the Schedule of Investments. | \*Additional information regarding the industry classifications of these investments is disclosed in the Schedule of Investments. | \*Additional information regarding the industry classifications of these investments is disclosed in the Schedule of Investments. |

---

------

---

| | |
|:---|:---|
| **LKCM Fixed Income Fund** | |
| **Sector Classification** | |
| **September 30, 2025 (Unaudited)** | |
| **Sector:** | **% of Net Assets** |
| Industrials | 12.5% |
| U.S. Government Sponsored Entities | 11.4% |
| Information Technology | 11.0% |
| Financials | 10.1% |
| Health Care | 9.7% |
| Energy | 9.0% |
| Communication Services | 8.5% |
| U.S. Government Issues | 6.9% |
| Consumer Discretionary | 5.1% |
| Real Estate | 4.3% |
| Utilities | 1.6% |
| Materials | 0.9% |
| Consumer Staples | 0.8% |
| Cash & Others | 8.2% |
|  | **100%** |

---

------

---

| |
|:---|
| **Sector Classification as of March 31, 2024** |
| (% of Net Assets) |

---

---

| | |
|:---|:---|
| Health Care | 12.4% |
| Information Technology | 12.1 |
| Industrials | 9.6 |
| Energy | 6.3 |
| Financials | 5.9 |
| Consumer Discretionary | 4.9 |
| Communication Services | 4.2 |
| Materials | 3.5 |
| Real Estate | 2.3 |
| Consumer Staples | 2.2 |
| Other Assets in Excess of Liabilities | 36.6 |
|  | 100.0<br> **%** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LKCM Fixed Income Fund** | **LKCM Fixed Income Fund** | **LKCM Fixed Income Fund** | **LKCM Fixed Income Fund** | **LKCM Fixed Income Fund** |
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | $184522927 |  | $184522927 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Sponsored Entities | – | 66397713 |  | 66397713 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Issues | – | 29971815 |  | 29971815 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Fund | 2728114 | – |  | 2728114 |
| **Total Assets** | $2728114 | $280892455 |  | $283620569 |
| Refer to the Schedule of Investments for industry classifications. | Refer to the Schedule of Investments for industry classifications. | Refer to the Schedule of Investments for industry classifications. | Refer to the Schedule of Investments for industry classifications. | Refer to the Schedule of Investments for industry classifications. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** LKCM Funds

- **b. Investment Company Act file number:** 811-08352

- **c. CIK number of Registrant:** 0000918942

- **d. LEI of Registrant:** 549300P4U5XLVM1D1Z46

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

  - **Street Address 1:** 301 Commerce Street

  - **City:** Fort Worth

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 76102

  - **Telephone number:** 800-423-6369

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

- **a. Name of Series:** LKCM Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000004606

- **c. LEI of Series:** 549300NMV6O6X39QKV64

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $283467297.60

**Total Liabilities:** $313274.99

**Net Assets:** $283154022.61

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 5971.901075000000 | **1-Year:** 10463.412559000000 | **5-Year:** 51654.747597000000 | **10-Year:** 35683.875075000000 | **30-Year:** 5.567856000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012574 | 0.00%                | 0.95%                | 0.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $63580.91                | $-767529.56                                |
| Month 2  | $0.00                    | $1742852.85                                |
| Month 3  | $11275.00                | $936829.67                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABBOTT LABORATORIES            | Abbott Laboratories                   | CUSIP: 002824BG4<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201898.01    | 0.07%             | 2036-11-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                     | AbbVie Inc                            | CUSIP: 00287YDT3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4136650.60   | 1.46%             | 2031-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                      | Amgen Inc                             | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3627526.74   | 1.28%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                  | CUSIP: 06051GFU8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2001504.50   | 0.71%             | 2026-03-03      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CHEVRON CORP                   | Chevron Corp                          | CUSIP: 166764BL3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1870000 | PA      | $1858624.04   | 0.66%             | 2026-05-16      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY         | ConocoPhillips Co                     | CUSIP: 20826FBF2<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2061977.74   | 0.73%             | 2033-09-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| EMERSON ELECTRIC CO            | Emerson Electric Co                   | CUSIP: 291011BT0<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | DBT              | CORP              | US        |   3450000 | PA      | $3544477.39   | 1.25%             | 2035-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130ALS88<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |   3000000 | PA      | $2972452.62   | 1.05%             | 2026-03-30      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130ATEN3<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   1750000 | PA      | $1777534.89   | 0.63%             | 2027-09-29      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FISERV INC                     | Fiserv Inc                            | CUSIP: 337738BK3<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3123281.55   | 1.10%             | 2031-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC               | T-Mobile USA Inc                      | CUSIP: 87264AAV7<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5508556.57   | 1.95%             | 2028-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 912810FP8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2500000 | PA      | $2692675.78   | 0.95%             | 2031-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CFT3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $2023437.50   | 0.71%             | 2029-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS         | Verizon Communications Inc            | CUSIP: 92343VGH1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2862262.71   | 1.01%             | 2028-03-22      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| AT&T INC                       | AT&T Inc                              | CUSIP: 00206RDQ2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   4235000 | PA      | $4244843.33   | 1.50%             | 2027-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO            | American Express Co                   | CUSIP: 025816CA5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1999954.60   | 0.71%             | 2025-11-06      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP            | American Tower Corp                   | CUSIP: 03027XAK6<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   4030000 | PA      | $4001272.27   | 1.41%             | 2026-10-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                | McDonald's Corp                       | CUSIP: 58013MFP4<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2481519.43   | 0.88%             | 2027-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                    | Netflix Inc                           | CUSIP: 64110LAZ9<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2064004.36   | 0.73%             | 2034-08-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                             | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2532675.43   | 0.89%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                             | CUSIP: 682680BL6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5304599.75   | 1.87%             | 2033-09-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| RTX CORP                       | RTX Corp                              | CUSIP: 75513ECU3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4196337.40   | 1.48%             | 2029-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC         | Roper Technologies Inc                | CUSIP: 776696AJ5<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6009796.08   | 2.12%             | 2034-10-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                   | Stryker Corp                          | CUSIP: 863667BE0<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2508285.98   | 0.89%             | 2029-09-11      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TRACTOR SUPPLY CO              | Tractor Supply Co                     | CUSIP: 892356AB2<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5164679.20   | 1.82%             | 2033-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CFM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400000 | PA      | $403960.94    | 0.14%             | 2027-09-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CKR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2300000 | PA      | $2330591.79   | 0.82%             | 2027-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                           | CUSIP: 68389XBM6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1977080.00   | 0.70%             | 2026-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                           | CUSIP: 68389XCH6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3200694.87   | 1.13%             | 2029-11-09      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC       | Thermo Fisher Scientific Inc          | CUSIP: 883556CX8<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4150428.00   | 1.47%             | 2033-08-10      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| TRIMBLE INC                    | Trimble Inc                           | CUSIP: 896239AE0<br>LEI: 549300E2MI7NSZFQWS19 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5386132.05   | 1.90%             | 2033-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CJV4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $2001688.34   | 0.71%             | 2026-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ACCENTURE CAPITAL INC          | Accenture Capital Inc                 | CUSIP: 00440KAD5<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1973977.32   | 0.70%             | 2034-10-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC           | Keurig Dr Pepper Inc                  | CUSIP: 26138EAU3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   2225000 | PA      | $2193358.10   | 0.77%             | 2026-09-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC              | L3Harris Technologies Inc             | CUSIP: 502431AS8<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4115683.32   | 1.45%             | 2029-06-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP            | American Tower Corp                   | CUSIP: 03027XCC2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4321298.69   | 1.53%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO        | Arthur J Gallagher & Co               | CUSIP: 04316JAM1<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   5250000 | PA      | $5362362.71   | 1.89%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                  | CUSIP: 06051GFL8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5007809.45   | 1.77%             | 2026-10-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                   | Broadcom Inc                          | CUSIP: 11135FBY6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5717997.84   | 2.02%             | 2031-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CULLEN/FROST BANKERS INC       | Cullen/Frost Bankers Inc              | CUSIP: 229899AB5<br>LEI: 529900V2E9G9AY665O34 | Long             | DBT              | CORP              | US        |   3942000 | PA      | $3906482.58   | 1.38%             | 2027-03-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION       | Devon Energy Corp                     | CUSIP: 25179MBF9<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4007378.44   | 1.42%             | 2030-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP               | Duke Energy Corp                      | CUSIP: 26441CBT1<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1989270.66   | 0.70%             | 2032-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP               | Duke Energy Corp                      | CUSIP: 26441CBZ7<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2659513.70   | 0.94%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ECOLAB INC                     | Ecolab Inc                            | CUSIP: 278865AV2<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1974505.70   | 0.70%             | 2026-11-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| ECOLAB INC                     | Ecolab Inc                            | CUSIP: 278865BE9<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513305.77    | 0.18%             | 2030-03-24      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130A7BA2<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   3575000 | PA      | $3548945.61   | 1.25%             | 2026-03-13      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130AMGT3<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |   2500000 | PA      | $2470968.85   | 0.87%             | 2026-05-26      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130AQJQ7<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |   2500000 | PA      | $2479148.63   | 0.88%             | 2027-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| FISERV INC                     | Fiserv Inc                            | CUSIP: 337738BJ6<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3040970.73   | 1.07%             | 2027-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC              | L3Harris Technologies Inc             | CUSIP: 502431AQ2<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   5525000 | PA      | $5762120.46   | 2.03%             | 2033-07-31      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                 | Lowe's Cos Inc                        | CUSIP: 548661DM6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992270.68    | 0.35%             | 2026-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                             | CUSIP: 682680BE2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2149111.22   | 0.76%             | 2031-01-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                           | CUSIP: 68389XCP8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3026058.18   | 1.07%             | 2033-02-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| RTX CORP                       | RTX Corp                              | CUSIP: 75513ECR0<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2849526.30   | 1.01%             | 2033-02-27      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Invesco Government & Agency Po | Invesco Government & Agency Portfolio | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |   5530849 | NS      | $5530849.48   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CHR5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $2023359.38   | 0.71%             | 2030-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CJJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $3102714.84   | 1.10%             | 2033-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CJK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $504980.47    | 0.18%             | 2026-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2993027.34   | 1.06%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $5058007.80   | 1.79%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS         | Verizon Communications Inc            | CUSIP: 92343VDY7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2002284.24   | 0.71%             | 2027-03-16      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC           | Waste Management Inc                  | CUSIP: 94106LBT5<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |   2370000 | PA      | $2412528.77   | 0.85%             | 2030-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms Inc                    | CUSIP: 30303M8M7<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   2950000 | PA      | $3047366.02   | 1.08%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC        | O'Reilly Automotive Inc               | CUSIP: 67103HAJ6<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |   2325000 | PA      | $2319051.07   | 0.82%             | 2030-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC        | O'Reilly Automotive Inc               | CUSIP: 67103HAL1<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2774265.31   | 0.98%             | 2032-06-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                      | Amgen Inc                             | CUSIP: 031162CJ7<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $987191.83    | 0.35%             | 2026-08-19      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130APKJ3<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |   3000000 | PA      | $2967766.14   | 1.05%             | 2026-10-28      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130APKR5<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |   3000000 | PA      | $2995790.19   | 1.06%             | 2025-10-28      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130APLH6<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |   3000000 | PA      | $2895738.60   | 1.02%             | 2028-11-16      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130AQ3W1<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |   2500000 | PA      | $2295871.58   | 0.81%             | 2033-12-15      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130AQPA5<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |   2500000 | PA      | $2490658.98   | 0.88%             | 2026-02-17      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130ARUT6<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |   1505000 | PA      | $1505456.95   | 0.53%             | 2025-11-12      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                   | CUSIP: 46625HQW3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3487642.80   | 1.23%             | 2026-04-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                   | CUSIP: 46625HRS1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    636000 | PA      | $632486.46    | 0.22%             | 2026-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC              | Kinder Morgan Inc                     | CUSIP: 49456BAX9<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   7300000 | PA      | $7476127.61   | 2.64%             | 2033-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC        | O'Reilly Automotive Inc               | CUSIP: 67103HAG2<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    675000 | PA      | $679459.59    | 0.24%             | 2028-06-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC         | UnitedHealth Group Inc                | CUSIP: 91324PEU2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4013244.84   | 1.42%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC           | Waste Management Inc                  | CUSIP: 94106LCB3<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |   5800000 | PA      | $5872855.95   | 2.07%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP            | American Tower Corp                   | CUSIP: 03027XBW9<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   4050000 | PA      | $3926579.37   | 1.39%             | 2032-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                   | Broadcom Inc                          | CUSIP: 11135FBD2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2578513.83   | 0.91%             | 2030-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms Inc                    | CUSIP: 30303M8L9<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2552026.15   | 0.90%             | 2028-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC             | Meta Platforms Inc                    | CUSIP: 30303M8U9<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2026733.66   | 0.72%             | 2034-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK         | Federal Home Loan Banks               | CUSIP: 3130AGME2<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   4000000 | PA      | $3861774.08   | 1.36%             | 2029-06-27      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                     | Intuit Inc                            | CUSIP: 46124HAG1<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2615969.05   | 0.92%             | 2033-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC          | Republic Services Inc                 | CUSIP: 760759BC3<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2566261.85   | 0.91%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC          | Republic Services Inc                 | CUSIP: 760759BL3<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4101182.76   | 1.45%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                   | Stryker Corp                          | CUSIP: 863667BL4<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7690973.25   | 2.72%             | 2030-02-10      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CHH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1002378.76   | 0.35%             | 2026-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                      | Adobe Inc                             | CUSIP: 00724PAF6<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |    700000 | PA      | $719204.78    | 0.25%             | 2029-04-04      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond      | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8500000 | PA      | $8601933.62   | 3.04%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-19

**Name of Applicant:** LKCM Funds

**Signature:** /s/ Jacob D. Smith

**Name of Signer:** LKCM Funds

**Title:** Chief Financial Officer