# EDGAR Filing Document

**Accession Number:** 0000927384
**File Stem:** 0000035402-25-002253
**Filing Date:** 2025-11
**Character Count:** 74568
**Document Hash:** c27fce0085fb3f046fe4361005357461
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-25-002253.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0000035402-25-002253

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VARIABLE INSURANCE PRODUCTS FUND III
- **CENTRAL INDEX KEY:** 0000927384

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07205
- **FILM NUMBER:** 251519789

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VARIABLE INSURANCE PRODUCTS III
- **DATE OF NAME CHANGE:** 19970106

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY ADVISOR ANNUITY FUND
- **DATE OF NAME CHANGE:** 19940722

## Series and Classes Contracts Data

### Dynamic Capital Appreciation Portfolio (Series ID: S000007731)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000021030 | Initial Class   |  |
| C000021031 | Investor class  |  |
| C000021032 | Service Class   |  |
| C000021033 | Service Class 2 |  |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Variable Insurance Products:**

**VIP Dynamic Capital Appreciation Portfolio**

**September 30, 2025**

VIPDCA-NPRT3-1125

1.808777.121 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.5%** | &nbsp;&nbsp;**Common Stocks - 99.5%** | &nbsp;&nbsp;**Common Stocks - 99.5%** |
|  | Shares | Value ($)<br>|
| BRAZIL - 1.5%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Broadline Retail - 0.6% |  |  |
| MercadoLibre Inc (b) | 760 | 1776074 |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| NU Holdings Ltd/Cayman Islands Class A (b) | 151800 | 2430318 |
| TOTAL BRAZIL |  | 4206392 |
| CANADA - 2.8%  |  |  |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Canadian Natural Resources Ltd (United States)  | 31000 | 990760 |
| Imperial Oil Ltd  | 2400 | 217616 |
|  |  | 1208376 |
| Financials - 2.2% |  |  |
| Capital Markets - 2.2% |  |  |
| Brookfield Corp Class A (United States)  | 91629 | 6283917 |
| Materials - 0.2% |  |  |
| Metals & Mining - 0.2% |  |  |
| Franco-Nevada Corp  | 2200 | 489684 |
| TOTAL CANADA |  | 7981977 |
| CHINA - 0.4%  |  |  |
| Communication Services - 0.1% |  |  |
| Interactive Media & Services - 0.1% |  |  |
| Tencent Holdings Ltd  | 5300 | 451611 |
| Consumer Discretionary - 0.3% |  |  |
| Automobile Components - 0.3% |  |  |
| Hesai Group ADR (b) | 29500 | 828950 |
| TOTAL CHINA |  | 1280561 |
| GERMANY - 0.3%  |  |  |
| Information Technology - 0.3% |  |  |
| Software - 0.3% |  |  |
| SAP SE  | 2900 | 776525 |
| ISRAEL - 0.0%  |  |  |
| Health Care - 0.0% |  |  |
| Biotechnology - 0.0% |  |  |
| Gamida Cell Ltd rights (b)(c) | 75514 | 1 |
| JAPAN - 0.1%  |  |  |
| Industrials - 0.1% |  |  |
| Machinery - 0.1% |  |  |
| Mitsubishi Heavy Industries Ltd  | 20200 | 528616 |
| KOREA (SOUTH) - 0.3%  |  |  |
| Information Technology - 0.3% |  |  |
| Semiconductors & Semiconductor Equipment - 0.3% |  |  |
| SK Hynix Inc  | 3290 | 814049 |
| NETHERLANDS - 1.4%  |  |  |
| Information Technology - 1.4% |  |  |
| Semiconductors & Semiconductor Equipment - 1.4% |  |  |
| ASM International NV  | 1400 | 839587 |
| ASML Holding NV  | 1100 | 1072706 |
| BE Semiconductor Industries NV  | 13500 | 2010531 |
| TOTAL NETHERLANDS |  | 3922824 |
| NORWAY - 0.3%  |  |  |
| Energy - 0.3% |  |  |
| Oil, Gas & Consumable Fuels - 0.3% |  |  |
| Frontline PLC (d) | 36000 | 820440 |
| SWITZERLAND - 0.0%  |  |  |
| Consumer Discretionary - 0.0% |  |  |
| Textiles, Apparel & Luxury Goods - 0.0% |  |  |
| On Holding AG Class A (b) | 1900 | 80465 |
| TAIWAN - 2.4%  |  |  |
| Information Technology - 2.4% |  |  |
| Semiconductors & Semiconductor Equipment - 2.4% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 7000 | 304164 |
| Taiwan Semiconductor Manufacturing Co Ltd ADR  | 23413 | 6539017 |
| TOTAL TAIWAN |  | 6843181 |
| UNITED KINGDOM - 1.5%  |  |  |
| Consumer Staples - 1.2% |  |  |
| Tobacco - 1.2% |  |  |
| British American Tobacco PLC  | 63700 | 3388032 |
| Financials - 0.3% |  |  |
| Capital Markets - 0.3% |  |  |
| 3i Group PLC  | 14400 | 793771 |
| Health Care - 0.0% |  |  |
| Biotechnology - 0.0% |  |  |
| Immunocore Holdings PLC ADR (b) | 5700 | 207081 |
| TOTAL UNITED KINGDOM |  | 4388884 |
| UNITED STATES - 88.5%  |  |  |
| Communication Services - 10.6% |  |  |
| Entertainment - 0.1% |  |  |
| ROBLOX Corp Class A (b) | 2300 | 318596 |
| Interactive Media & Services - 9.5% |  |  |
| Alphabet Inc Class A  | 40623 | 9875451 |
| Alphabet Inc Class C  | 23960 | 5835458 |
| Epic Games Inc (b)(c)(e) | 156 | 114119 |
| Match Group Inc  | 10300 | 363796 |
| Meta Platforms Inc Class A  | 13800 | 10134444 |
| Reddit Inc Class A (b) | 5000 | 1149950 |
|  |  | 27473218 |
| Media - 0.3% |  |  |
| New York Times Co/The Class A  | 16600 | 952840 |
| Wireless Telecommunication Services - 0.7% |  |  |
| T-Mobile US Inc  | 8200 | 1962916 |
| TOTAL COMMUNICATION SERVICES |  | 30707570 |
| Consumer Discretionary - 7.9% |  |  |
| Broadline Retail - 5.7% |  |  |
| Amazon.com Inc (b) | 75560 | 16590709 |
| Diversified Consumer Services - 0.3% |  |  |
| Service Corp International/US  | 10000 | 832200 |
| Hotels, Restaurants & Leisure - 1.2% |  |  |
| Planet Fitness Inc Class A (b) | 8800 | 913440 |
| Sportradar Holding AG Class A (b) | 27200 | 731680 |
| Vail Resorts Inc (d) | 3600 | 538452 |
| Viking Holdings Ltd (b) | 19600 | 1218336 |
|  |  | 3401908 |
| Household Durables - 0.3% |  |  |
| DR Horton Inc  | 5000 | 847350 |
| Specialty Retail - 0.4% |  |  |
| Lowe's Cos Inc  | 4200 | 1055502 |
| Textiles, Apparel & Luxury Goods - 0.0% |  |  |
| Crocs Inc (b) | 1800 | 150390 |
| TOTAL CONSUMER DISCRETIONARY |  | 22878059 |
| Consumer Staples - 1.6% |  |  |
| Beverages - 0.5% |  |  |
| Constellation Brands Inc Class A  | 7300 | 983091 |
| Keurig Dr Pepper Inc  | 16600 | 423466 |
|  |  | 1406557 |
| Tobacco - 1.1% |  |  |
| Philip Morris International Inc  | 19767 | 3206207 |
| TOTAL CONSUMER STAPLES |  | 4612764 |
| Energy - 4.7% |  |  |
| Energy Equipment & Services - 0.7% |  |  |
| Archrock Inc  | 44000 | 1157640 |
| Kodiak Gas Services Inc  | 24900 | 920553 |
|  |  | 2078193 |
| Oil, Gas & Consumable Fuels - 4.0% |  |  |
| Cheniere Energy Inc  | 12200 | 2866756 |
| Energy Transfer LP  | 93700 | 1607892 |
| Enterprise Products Partners LP  | 43000 | 1344610 |
| Exxon Mobil Corp  | 30145 | 3398849 |
| MPLX LP  | 12323 | 615534 |
| Shell PLC ADR  | 23400 | 1673802 |
|  |  | 11507443 |
| TOTAL ENERGY |  | 13585636 |
| Financials - 14.1% |  |  |
| Banks - 2.3% |  |  |
| Bank of America Corp  | 58432 | 3014507 |
| Wells Fargo & Co  | 44745 | 3750526 |
|  |  | 6765033 |
| Capital Markets - 4.2% |  |  |
| Ares Capital Corp  | 26918 | 549396 |
| Blackstone Secured Lending Fund  | 24500 | 638715 |
| Blue Owl Capital Corp  | 118907 | 1518442 |
| Blue Owl Capital Inc Class A  | 120300 | 2036679 |
| Cboe Global Markets Inc  | 12200 | 2992051 |
| Intercontinental Exchange Inc  | 13100 | 2207088 |
| Jefferies Financial Group Inc  | 15100 | 987842 |
| LPL Financial Holdings Inc  | 3200 | 1064608 |
| Raymond James Financial Inc  | 1100 | 189860 |
|  |  | 12184681 |
| Financial Services - 4.8% |  |  |
| Apollo Global Management Inc  | 33500 | 4464545 |
| Mastercard Inc Class A  | 6100 | 3469741 |
| Rocket Cos Inc Class A (d) | 69400 | 1344972 |
| Visa Inc Class A  | 13200 | 4506216 |
|  |  | 13785474 |
| Insurance - 2.8% |  |  |
| Arthur J Gallagher & Co  | 7957 | 2464601 |
| Chubb Ltd  | 7100 | 2003975 |
| Marsh & McLennan Cos Inc  | 7900 | 1592087 |
| Travelers Companies Inc/The  | 6800 | 1898696 |
|  |  | 7959359 |
| TOTAL FINANCIALS |  | 40694547 |
| Health Care - 4.6% |  |  |
| Biotechnology - 0.1% |  |  |
| Adamas Pharmaceuticals Inc rights (b)(c) | 47000 | 470 |
| Adamas Pharmaceuticals Inc rights (b)(c) | 47000 | 0 |
| Beam Therapeutics Inc (b) | 14800 | 359196 |
| Krystal Biotech Inc (b) | 800 | 141224 |
|  |  | 500890 |
| Health Care Providers & Services - 1.7% |  |  |
| Cigna Group/The  | 4600 | 1325950 |
| Humana Inc  | 4700 | 1222799 |
| UnitedHealth Group Inc  | 6900 | 2382570 |
|  |  | 4931319 |
| Life Sciences Tools & Services - 1.2% |  |  |
| Bruker Corp  | 13900 | 451611 |
| Thermo Fisher Scientific Inc  | 6200 | 3007124 |
|  |  | 3458735 |
| Pharmaceuticals - 1.6% |  |  |
| Eli Lilly & Co  | 3600 | 2746800 |
| Royalty Pharma PLC Class A  | 50800 | 1792224 |
|  |  | 4539024 |
| TOTAL HEALTH CARE |  | 13429968 |
| Industrials - 13.3% |  |  |
| Aerospace & Defense - 3.4% |  |  |
| Anduril Industries Inc Class B (c)(e) | 200 | 8176 |
| Boeing Co (b) | 30300 | 6539649 |
| GE Aerospace  | 9300 | 2797626 |
| Huntington Ingalls Industries Inc  | 1300 | 374283 |
|  |  | 9719734 |
| Construction & Engineering - 0.6% |  |  |
| EMCOR Group Inc  | 2800 | 1818712 |
| Electrical Equipment - 2.3% |  |  |
| GE Vernova Inc  | 8575 | 5272768 |
| Vertiv Holdings Co Class A  | 9600 | 1448256 |
|  |  | 6721024 |
| Machinery - 4.0% |  |  |
| Allison Transmission Holdings Inc  | 39700 | 3369736 |
| Cummins Inc  | 2100 | 886977 |
| PACCAR Inc  | 23900 | 2349848 |
| Westinghouse Air Brake Technologies Corp  | 23900 | 4791233 |
|  |  | 11397794 |
| Professional Services - 3.0% |  |  |
| KBR Inc  | 17185 | 812678 |
| Paycom Software Inc  | 16566 | 3448047 |
| Paylocity Holding Corp (b) | 8000 | 1274160 |
| SS&C Technologies Holdings Inc  | 35656 | 3164827 |
|  |  | 8699712 |
| Trading Companies & Distributors - 0.0% |  |  |
| Watsco Inc  | 300 | 121290 |
| TOTAL INDUSTRIALS |  | 38478266 |
| Information Technology - 26.8% |  |  |
| Communications Equipment - 0.8% |  |  |
| Arista Networks Inc  | 15600 | 2273076 |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Corning Inc  | 3300 | 270699 |
| Semiconductors & Semiconductor Equipment - 12.4% |  |  |
| Advanced Micro Devices Inc (b) | 1800 | 291222 |
| Astera Labs Inc (b) | 500 | 97900 |
| Broadcom Inc  | 23137 | 7633128 |
| First Solar Inc (b) | 3500 | 771855 |
| Marvell Technology Inc  | 19900 | 1672993 |
| NVIDIA Corp  | 135970 | 25369283 |
|  |  | 35836381 |
| Software - 9.1% |  |  |
| AppLovin Corp Class A (b) | 1300 | 934102 |
| Asapp Inc warrants 8/28/2028 (b)(c)(e) | 61925 | 60067 |
| BitMine Immersion Technologies Inc (b) | 10100 | 524493 |
| Microsoft Corp  | 40442 | 20946934 |
| Nutanix Inc Class A (b) | 4200 | 312438 |
| OpenAI Global LLC rights (b)(c)(e) | 159000 | 329130 |
| Riot Platforms Inc (b)(d) | 164300 | 3126629 |
|  |  | 26233793 |
| Technology Hardware, Storage & Peripherals - 4.5% |  |  |
| Apple Inc  | 37960 | 9665755 |
| Seagate Technology Holdings PLC  | 5500 | 1298330 |
| Western Digital Corp  | 16500 | 1980990 |
|  |  | 12945075 |
| TOTAL INFORMATION TECHNOLOGY |  | 77559024 |
| Materials - 0.7% |  |  |
| Chemicals - 0.1% |  |  |
| Sherwin-Williams Co/The  | 1200 | 415512 |
| Metals & Mining - 0.6% |  |  |
| Carpenter Technology Corp  | 5000 | 1227700 |
| Royal Gold Inc  | 1500 | 300870 |
|  |  | 1528570 |
| TOTAL MATERIALS |  | 1944082 |
| Real Estate - 2.3% |  |  |
| Health Care REITs - 1.0% |  |  |
| Ventas Inc  | 37600 | 2631624 |
| Real Estate Management & Development - 0.7% |  |  |
| CBRE Group Inc Class A (b) | 10200 | 1607112 |
| Compass Inc Class A (b) | 52800 | 423984 |
|  |  | 2031096 |
| Retail REITs - 0.6% |  |  |
| Simon Property Group Inc  | 9900 | 1857933 |
| TOTAL REAL ESTATE |  | 6520653 |
| Utilities - 1.9% |  |  |
| Electric Utilities - 1.8% |  |  |
| Exelon Corp  | 30100 | 1354801 |
| FirstEnergy Corp  | 23700 | 1085934 |
| NextEra Energy Inc  | 37200 | 2808228 |
|  |  | 5248963 |
| Water Utilities - 0.1% |  |  |
| WaterBridge Infrastructure LLC Class A  | 10000 | 252200 |
| TOTAL UTILITIES |  | 5501163 |
| TOTAL UNITED STATES |  | 255911732 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $208,340,903) |  | <br> **287555647** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Corporate Bonds - 0.0%** | &nbsp;&nbsp;**Convertible Corporate Bonds - 0.0%** | &nbsp;&nbsp;**Convertible Corporate Bonds - 0.0%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| UNITED STATES - 0.0%  |  |  |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| Illuminated Holdings Inc 15% (c)(e)(f)<br>(Cost $49,600)<br>| 49600 | **48508** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 0.0%  |  |  |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Canva Australia Holdings Pty Ltd Series A (b)(c)(e) | 85 | 139922 |
| Canva Australia Holdings Pty Ltd Series A2 (b)(c)(e) | 15 | 24692 |
| TOTAL AUSTRALIA |  | 164614 |
| UNITED STATES - 0.4%  |  |  |
| Financials - 0.0% |  |  |
| Financial Services - 0.0% |  |  |
| Akeana Series C (b)(c)(e) | 1600 | 21120 |
| Health Care - 0.0% |  |  |
| Biotechnology - 0.0% |  |  |
| ElevateBio LLC Series C (b)(c)(e) | 5300 | 11077 |
| Industrials - 0.1% |  |  |
| Aerospace & Defense - 0.1% |  |  |
| Anduril Industries Inc Series F (b)(c)(e) | 5252 | 214702 |
| Anduril Industries Inc Series G (c)(e) | 300 | 12264 |
|  |  | 226966 |
| Information Technology - 0.3% |  |  |
| IT Services - 0.2% |  |  |
| X.Ai Holdings Corp Series C (c)(e) | 9300 | 340008 |
| Software - 0.1% |  |  |
| Anthropic PBC Series F (c)(e) | 1100 | 155067 |
| Asapp Inc Series C (b)(c)(e) | 17672 | 27568 |
| Asapp Inc Series D (b)(c)(e) | 107931 | 139231 |
|  |  | 321866 |
| TOTAL INFORMATION TECHNOLOGY |  | 661874 |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| Illuminated Holdings Inc Series C2 (b)(c)(e) | 3438 | 39950 |
| Illuminated Holdings Inc Series C3 (b)(c)(e) | 4298 | 49943 |
| Illuminated Holdings Inc Series C4 (b)(c)(e) | 1252 | 14547 |
| Illuminated Holdings Inc Series C5 (b)(c)(e) | 2617 | 30410 |
|  |  | 134850 |
| TOTAL UNITED STATES |  | 1055887 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $1,538,528) |  | <br> **1220501** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Preferred Securities - 0.0%** | &nbsp;&nbsp;**Preferred Securities - 0.0%** | &nbsp;&nbsp;**Preferred Securities - 0.0%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| UNITED STATES - 0.0%  |  |  |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| Illuminated Holdings Inc 15% (c)(e)(f)<br>(Cost $66,000)<br>| 66000 | **81398** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.4%** | &nbsp;&nbsp;**Money Market Funds - 1.4%** | &nbsp;&nbsp;**Money Market Funds - 1.4%** | &nbsp;&nbsp;**Money Market Funds - 1.4%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (g) | 4.21 | 797907 | 798066 |
| Fidelity Securities Lending Cash Central Fund (g)(h) | 4.19 | 3118926 | 3119238 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $3,917,304) |  |  | **3917304** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.3%**<br> (Cost $213,912,335)<br>| <br>**292823358** |
| **NET OTHER ASSETS (LIABILITIES) - (1.3)%**  | **(3790180)** |
| **NET ASSETS - 100.0%** | **289033178** |

---

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Non-income producing.

(c) Level 3 security.

(d) Security or a portion of the security is on loan at period end.

(e) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $1,861,899 or 0.6% of net assets.

(f) Security is perpetual in nature with no stated maturity date.

(g) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(h) Investment made with cash collateral received from securities on loan.

At period end, the value of non-cash collateral for securities on loan amounted to $377,554.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| Akeana Series C | 1/23/2024 | 20417 |
| Anduril Industries Inc Class B | 6/16/2025 | 8177 |
| Anduril Industries Inc Series F | 8/7/2024 | 114161 |
| Anduril Industries Inc Series G | 4/17/2025 | 12264 |
| Anthropic PBC Series F | 8/18/2025 | 155064 |
| Asapp Inc Series C | 4/30/2021 | 116584 |
| Asapp Inc Series D | 8/29/2023 | 416777 |
| Asapp Inc warrants 8/28/2028 | 8/29/2023 | 0 |
| Canva Australia Holdings Pty Ltd Series A | 9/22/2023 | 90666 |
| Canva Australia Holdings Pty Ltd Series A2 | 9/22/2023 | 16000 |
| ElevateBio LLC Series C | 3/9/2021 | 22234 |
| Epic Games Inc | 3/29/2021 | 138060 |
| Illuminated Holdings Inc 15% | 6/14/2023 | 49600 |
| Illuminated Holdings Inc 15% | 9/27/2023 | 66000 |
| Illuminated Holdings Inc Series C2 | 7/7/2020 | 85950 |
| Illuminated Holdings Inc Series C3 | 7/7/2020 | 128940 |
| Illuminated Holdings Inc Series C4 | 1/8/2021 | 45072 |
| Illuminated Holdings Inc Series C5 | 6/16/2021 | 113054 |
| OpenAI Global LLC rights | 9/30/2024 | 159000 |
| X.Ai Holdings Corp Series C | 11/22/2024 | 201345 |

---

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 343986 | 76804350 | 76350196 | 134947 | (74) | - | 798066 | 797907 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 1309587 | 33012323 | 31202672 | 49026 | - | - | 3119238 | 3118926 | 0.0% |
| Total | 1653573 | 109816673 | 107552868 | 183973 | (74) | - | 3917304 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

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

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Convertible Corporate Bonds and Preferred Securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Variable Insurance Products Fund III

- **b. Investment Company Act file number:** 811-07205

- **c. CIK number of Registrant:** 0000927384

- **d. LEI of Registrant:** C88PZA3GJP7OWPNW6V03

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** VIP Dynamic Capital Appreciation Portfolio

- **b. EDGAR series identifier (if any):** S000007731

- **c. LEI of Series:** 22G2AD8QRPQRHGVA1859

**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:** $292819811.13

**Total Liabilities:** $3210706.69

**Net Assets:** $289609104.44

**Cash Not Reported:** $16709.57

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021032 | 2.75%                | 1.42%                | 3.34%                |
| Class ID C000021033 | 2.74%                | 1.36%                | 3.36%                |
| Class ID C000021030 | 2.80%                | 1.39%                | 3.37%                |
| Class ID C000021031 | 2.81%                | 1.39%                | 3.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $27652041.94             | $-20008659.58                              |
| Month 2  | $1841644.43              | $1851489.15                                |
| Month 3  | $1504117.02              | $7748445.79                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CANVA AUSTRALIA HOLDINGS PTY LTD   | CANVA INC SER A-2 PC PERP PP                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | AU        |        15 | NS      | $24692.10     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BLUE OWL CAPITAL INC               | BLUE OWL CAPITAL INC A                          | CUSIP: 09581B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    106200 | NS      | $1797966.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BE SEMICONDUCTOR INDUSTRIES NV     | BE SEMICOND INDUS NV (NETH)                     | CUSIP: N/A<br>LEI: 7245007A1YFLI2GNYX06       | Long             | EC               | CORP              | NL        |     13500 | NS      | $2010531.28   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                 | ENERGY TRANSFER LP                              | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     93700 | NS      | $1607892.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC       | THERMO FISHER SCIENTIFIC INC                    | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      6200 | NS      | $3007124.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC           | ILLUMINATED HOLDINGS INC CONV 15% PERP P/P      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |     49600 | PA      | $48508.80     | 0.02%             | 2199-12-31      | Fixed         | 0.15%                 | Yes           |                  3 | On Loan: No      |
| WATSCO INC                         | WATSCO INC                                      | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |       300 | NS      | $121290.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LTD     | CANADIAN NATL RESOURCES LTD                     | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     31000 | NS      | $990760.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CARPENTER TECHNOLOGY CORP          | CARPENTER TECHNOLOGY CORP                       | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |      5000 | NS      | $1227700.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE TECH CORP   | WESTINGHOUSE AIR BRAKE TECH CORP                | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |     23900 | NS      | $4791233.00   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                          | SHELL PLC SPONS ADR                             | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     23400 | NS      | $1673802.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ASAPP INC                          | ASAPP INC WT 08/28/2028 PP                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     61925 | NS      | $60067.25     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GE VERNOVA INC                     | GE VERNOVA INC                                  | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      8775 | NS      | $5395747.50   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                          | APPLE INC                                       | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     37960 | NS      | $9665754.80   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO PLC       | BRITISH AMERICAN TOBACCO PLC                    | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |     63700 | NS      | $3388031.62   | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| ADAMAS PHARMACEUTICALS INC         | ADAMAS PHARMACEUTICALS INC (CVR) RT             | CUSIP: N/A<br>LEI: 529900JBG6S9MXH83I79       | Long             | EC               | CORP              | US        |     47000 | NS      | $470.00       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| T-MOBILE US INC                    | T-MOBILE US INC                                 | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      8200 | NS      | $1962916.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL GOLD INC                     | ROYAL GOLD INC                                  | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      1500 | NS      | $300870.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION BRANDS INC           | CONSTELLATION BRANDS INC CL A                   | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |      7300 | NS      | $983091.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES INC         | ADVANCED MICRO DEVICES INC                      | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      1800 | NS      | $291222.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                     | AMAZON.COM INC                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     75560 | NS      | $16590709.20  | 5.73%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                             | SAP SE                                          | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |      2900 | NS      | $776524.97    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                     | MICROSOFT CORP                                  | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     40442 | NS      | $20946933.90  | 7.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ON HOLDING AG                      | ON HOLDING AG                                   | CUSIP: N/A<br>LEI: 506700FB3467B9W95526       | Long             | EC               | CORP              | CH        |      1900 | NS      | $80465.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                       | ALPHABET INC CL C                               | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     23960 | NS      | $5835458.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                           | VISA INC CL A                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     13200 | NS      | $4506216.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI HEAVY INDUSTRIES LTD    | MITSUBISHI HEAVY INDS LTD                       | CUSIP: N/A<br>LEI: 353800TJ98PCAZROVE69       | Long             | EC               | CORP              | JP        |     20200 | NS      | $528615.99    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| IMMUNOCORE HOLDINGS PLC            | IMMUNOCORE HOLDINGS LTD ADR                     | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |      5700 | NS      | $207081.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC                 | META PLATFORMS INC CL A                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     13800 | NS      | $10134444.00  | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT, INC      | APOLLO GLOBAL MANAGEMENT INC                    | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |     32600 | NS      | $4344602.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| WATERBRIDGE INFRASTRUCTURE LLC     | WATERBRIDGE INFRASTRUCTURE LLC                  | CUSIP: 940923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $252200.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP INC                     | CBRE GROUP INC - CL A                           | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     10200 | NS      | $1607112.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC                 | NEXTERA ENERGY INC                              | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     37200 | NS      | $2808228.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ANDURIL INDUSTRIES INC             | ANDURIL INDUSTRIES INC SER F PC PP              | CUSIP: N/A<br>LEI: 254900CIXLZUXXNYQW57       | Long             | EP               | CORP              | US        |      5252 | NS      | $214701.76    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CHUBB LTD                          | CHUBB LTD                                       | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |      7100 | NS      | $2003975.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BITMINE IMMERSION TECHNOLOGIES INC | BITMINE IMMERSION TECHNOLOGIES INC              | CUSIP: 09175A206<br>LEI: 254900TGJJ1D9JNAQT27 | Long             | EC               | CORP              | US        |     10100 | NS      | $524493.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR INC                         | PACCAR INC                                      | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     23900 | NS      | $2349848.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUKER CORP                        | BRUKER CORP                                     | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     13900 | NS      | $451611.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS INC                         | VENTAS INC REIT                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     37600 | NS      | $2631624.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| NU HOLDINGS LTD/CAYMAN ISLANDS     | NU HOLDINGS LTD/CAYMAN ISLANDS                  | CUSIP: N/A<br>LEI: 5493002DG1RHWK9W2X27       | Long             | EC               | CORP              | KY        |    151800 | NS      | $2430318.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ANDURIL INDUSTRIES INC             | ANDURIL INDUSTRIES INC CL B PP                  | CUSIP: N/A<br>LEI: 254900CIXLZUXXNYQW57       | Long             | EC               | CORP              | US        |       200 | NS      | $8176.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EPIC GAMES INC                     | EPIC GAMES INC PP                               | CUSIP: N/A<br>LEI: 549300I2RHITL4UP9K78       | Long             | EC               | CORP              | US        |       156 | NS      | $114118.68    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KRYSTAL BIOTECH INC                | KRYSTAL BIOTECH INC                             | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |       800 | NS      | $141224.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN DIGITAL CORP               | WESTERN DIGITAL CORP                            | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |     17200 | NS      | $2065032.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA GROUP (THE)                  | CIGNA GROUP (THE)                               | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      4600 | NS      | $1325950.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWES COS INC                      | LOWES COS INC                                   | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      4200 | NS      | $1055502.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTIV HOLDINGS CO                 | VERTIV HOLDINGS CO                              | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      9600 | NS      | $1448256.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC           | ILLUMINATED HOLDINGS INC CONV 15% PERP P/P      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     66000 | PA      | $64732.80     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PAYLOCITY HOLDING CORPORATION      | PAYLOCITY HOLDING CORP                          | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |      8000 | NS      | $1274160.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHROCK INC                       | ARCHROCK INC                                    | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     44000 | NS      | $1157640.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTENERGY CORP                   | FIRSTENERGY CORP                                | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |     23700 | NS      | $1085934.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYMOND JAMES FINANCIAL INC.       | RAYMOND JAMES FINANCIAL INC.                    | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |      1100 | NS      | $189860.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYALTY PHARMA PLC                 | ROYALTY PHARMA PLC                              | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |     50800 | NS      | $1792224.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| DR HORTON INC                      | DR HORTON INC                                   | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      5000 | NS      | $847350.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS INC                        | COMPASS INC                                     | CUSIP: 20464U100<br>LEI: 254900DMGQSTC3I2IM78 | Long             | EC               | CORP              | US        |     35900 | NS      | $288277.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CROCS INC                          | CROCS INC                                       | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |      1800 | NS      | $150390.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTERA LABS INC                    | ASTERA LABS INC                                 | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |       500 | NS      | $97900.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ASAPP INC                          | ASAPP INC SER C PC PP                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     17672 | NS      | $27568.32     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HESAI GROUP                        | HESAI GROUP ADR                                 | CUSIP: 428050108<br>LEI: 836800KOYHURQT1JZY11 | Long             | EC               | CORP              | KY        |     29500 | NS      | $828950.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMMINS INC                        | CUMMINS INC                                     | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      2100 | NS      | $886977.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLOVIN CORP                      | APPLOVIN CORP                                   | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      1300 | NS      | $934102.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MARSH and MCLENNAN COS INC         | MARSH and MCLENNAN COS INC                      | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      7900 | NS      | $1592087.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC           | ILLUMINATED HOLDINGS INC SER C-3 PC PP          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      4298 | NS      | $49942.76     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MARVELL TECHNOLOGY INC             | MARVELL TECHNOLOGY INC                          | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19900 | NS      | $1672993.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICE CORP INTERNATIONAL INC     | SERVICE CORP INTERNATIONAL INC                  | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |     10000 | NS      | $832200.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR INC                            | KBR INC                                         | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     17185 | NS      | $812678.65    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| VIKING HOLDINGS LTD                | VIKING HOLDINGS LTD                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |     19600 | NS      | $1218336.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SPORTRADAR HOLDING AG              | SPORTRADAR GROUP AG                             | CUSIP: N/A<br>LEI: 39120099GMDR0HYDS163       | Long             | EC               | CORP              | CH        |     27200 | NS      | $731680.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC               | KEURIG DR PEPPER INC                            | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     16600 | NS      | $423466.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC           | ILLUMINATED HOLDINGS INC SER C-5 PC PP          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      2617 | NS      | $30409.54     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GALLAGHER (ARTHUR J.) and CO       | ARTHUR J GALLAGHAR AND CO                       | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      7957 | NS      | $2464601.18   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| JEFFERIES FINANCIAL GROUP INC      | JEFFERIES FINANCIAL GROUP INC                   | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     15100 | NS      | $987842.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BLUE OWL CAPITAL CORP              | BLUE OWL CAPITAL CORP                           | CUSIP: 69121K104<br>LEI: 2549000BD79OOCPF2L94 | Long             | EC               | CORP              | US        |    118907 | NS      | $1518442.39   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC           | ILLUMINATED HOLDINGS INC SER C-4 PC PP          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      1252 | NS      | $14548.24     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VAIL RESORTS INC                   | VAIL RESORTS INC                                | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |      3600 | NS      | $538452.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| OPEN AI GLOBAL LLC                 | OPEN AI GLOBAL LLC CONVERTIBLE INTEREST RT PP   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    159000 | NS      | $329130.00    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NUTANIX INC                        | NUTANIX INC CL A                                | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |      4200 | NS      | $312438.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KODIAK GAS SERVICES INC            | KODIAK GAS SERVICES INC                         | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24900 | NS      | $920553.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AKEANA                             | AKEANA SER C PC PP                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      1600 | NS      | $21120.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELI LILLY and CO                   | ELI LILLY and CO                                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      3400 | NS      | $2594200.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP INC                    | EMCOR GROUP INC                                 | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      2800 | NS      | $1818712.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SEAGATE TECHNOLOGY HOLDINGS PLC    | SEAGATE TECHNOLOGY HOLDINGS PLC                 | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | IE        |      5900 | NS      | $1392754.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| GE AEROSPACE                       | GE AEROSPACE                                    | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      9300 | NS      | $2797626.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                       | BROADCOM INC                                    | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     23137 | NS      | $7633127.67   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL FINANCIAL HOLDINGS INC         | LPL FINL HLDGS INC                              | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      3200 | NS      | $1064608.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT HLDGS LTD                  | TENCENT HOLDINGS LTD                            | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |      5300 | NS      | $451610.89    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| PLANET FITNESS INC                 | PLANET FITNESS INC CL A                         | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |      8800 | NS      | $913440.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE INC      | INTERCONTINENTAL EXCHANGE INC                   | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     13100 | NS      | $2207088.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SHERWIN WILLIAMS CO                | SHERWIN WILLIAMS CO                             | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      1200 | NS      | $415512.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE PRODUCTS PARTNERS LP    | ENTERPRISE PRODS PARTNERS LP                    | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     43000 | NS      | $1344610.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CANVA AUSTRALIA HOLDINGS PTY LTD   | CANVA INC SER A PC PERP PP                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | AU        |        85 | NS      | $139921.90    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL INC    | PHILIP MORRIS INTL INC                          | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     19767 | NS      | $3206207.40   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust       | Fidelity Cash Central Fund                      | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |    797907 | NS      | $798066.43    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MFG CO LTD    | TAIWAN SEMIC MFG CO LTD SP ADR                  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     23413 | NS      | $6539016.77   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS INC            | CBOE GLOBAL MARKETS INC                         | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     12200 | NS      | $2992050.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP                   | EXXON MOBIL CORP                                | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     30145 | NS      | $3398848.75   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL OIL LTD                   | IMPERIAL OIL LTD                                | CUSIP: 453038408<br>LEI: 549300MO45LTBPAU4Z27 | Long             | EC               | CORP              | CA        |      2400 | NS      | $217615.87    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES CAPITAL CORP                  | ARES CAPITAL CORP                               | CUSIP: 04010L103<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | EC               | CORP              | US        |     26300 | NS      | $536783.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ASAPP INC                          | ASAPP INC SER D PC PP                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    107931 | NS      | $139230.99    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANTHROPIC PBC                      | ANTHROPIC PBC SERIES F PC PP                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      1100 | NS      | $155067.00    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ILLUMINATED HOLDINGS INC           | ILLUMINATED HOLDINGS INC SER C-2 PC PP          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      3438 | NS      | $39949.56     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PAYCOM SOFTWARE INC                | PAYCOM SOFTWARE INC                             | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |     16566 | NS      | $3448047.24   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKET COMPANIES INC               | ROCKET COS INC                                  | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69400 | NS      | $1344972.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: —       |
| HUNTINGTON INGALLS INDUSTRIES INC  | HUNTINGTON INGALLS INDUSTRIES INC               | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      1300 | NS      | $374283.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCADOLIBRE INC                   | MERCADOLIBRE INC                                | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       760 | NS      | $1776074.40   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO                          | BOEING CO                                       | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |     30300 | NS      | $6539649.00   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| X.AI HOLDINGS CORP                 | X.AI HOLDINGS CORP SER C PC PP                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      9300 | NS      | $340008.00    | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ARISTA NETWORKS INC                | ARISTA NETWORKS INC                             | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     15600 | NS      | $2273076.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVELERS COS INC                  | TRAVELERS COMPANIES INC                         | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      6800 | NS      | $1898696.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| 3I GROUP PLC                       | 3I GROUP PLC                                    | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |     14400 | NS      | $793770.92    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| ALLISON TRANSMISSION HLDGS INC     | ALLISON TRANSMISSION HLDGS INC                  | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     39700 | NS      | $3369736.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| RIOT PLATFORMS INC                 | RIOT PLATFORMS INC                              | CUSIP: 767292105<br>LEI: 5299005LKZAJQDQZDF73 | Long             | EC               | CORP              | US        |    164300 | NS      | $3126629.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: —       |
| CORNING INC                        | CORNING INC                                     | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      3300 | NS      | $270699.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ADAMAS PHARMACEUTICALS INC         | ADAMAS PHARMACEUTICALS INC (CVR) RT (WORTHLESS) | CUSIP: N/A<br>LEI: 529900JBG6S9MXH83I79       | Long             | EC               | CORP              | US        |     47000 | NS      | $0.47         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Fidelity Revere Street Trust       | Fidelity Securities Lending Cash Central Fund   | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   3021435 | NS      | $3021737.46   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX CORP                        | ROBLOX CORP                                     | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2300 | NS      | $318596.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                        | NVIDIA CORP                                     | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    135970 | NS      | $25369282.60  | 8.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ASM INTL NV                        | ASM INTERNATIONAL NV (NETH)                     | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Long             | EC               | CORP              | NL        |      1400 | NS      | $839586.64    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BEAM THERAPEUTICS INC              | BEAM THERAPEUTICS INC                           | CUSIP: 07373V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14800 | NS      | $359196.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                     | MASTERCARD INC CL A                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      6100 | NS      | $3469741.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO and CO                 | WELLS FARGO and CO                              | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     45645 | NS      | $3825963.90   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| GAMIDA CELL LTD                    | GAMIDA CELL LTD CVR RT                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |     75514 | NS      | $0.76         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BANK OF AMERICA CORPORATION        | BANK OF AMERICA CORPORATION                     | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     60132 | NS      | $3102209.88   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SK HYNIX INC                       | SK HYNIX INC                                    | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |      3290 | NS      | $814049.12    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML HOLDING NV                    | ASML HOLDING NV                                 | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |      1200 | NS      | $1170224.48   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| FIRST SOLAR INC                    | FIRST SOLAR INC                                 | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      3500 | NS      | $771855.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| REDDIT INC                         | REDDIT INC A                                    | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |      5000 | NS      | $1149950.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| HUMANA INC                         | HUMANA INC                                      | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      4700 | NS      | $1222799.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| FRONTLINE PLC                      | FRONTLINE PLC                                   | CUSIP: N/A<br>LEI: 5493004BCIKYU1YL3H63       | Long             | EC               | CORP              | CY        |     36000 | NS      | $820440.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| BROOKFIELD CORP                    | BROOKFIELD CORP CL A                            | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |     91629 | NS      | $6283916.82   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC             | UNITEDHEALTH GROUP INC                          | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      7200 | NS      | $2486160.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORP                        | EXELON CORP                                     | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     30100 | NS      | $1354801.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP INC           | SIMON PPTY GROUP INC - REIT                     | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      9900 | NS      | $1857933.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANCO NEVADA CORP                 | FRANCO-NEVADA CORP                              | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      2200 | NS      | $489684.56    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                            | MPLX LP                                         | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Long             | EC               | CORP              | US        |     12323 | NS      | $615533.85    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ANDURIL INDUSTRIES INC             | ANDURIL INDUSTRIES INC SER G PC PP              | CUSIP: N/A<br>LEI: 254900CIXLZUXXNYQW57       | Long             | EP               | CORP              | US        |       300 | NS      | $12264.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NEW YORK TIMES CO                  | NEW YORK TIMES CO CL A                          | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     16600 | NS      | $952840.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVATEBIO, LLC                    | ELEVATEBIO LLC SER C PC PP                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      5300 | NS      | $11077.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SS and C TECHNOLOGIES HLDGS INC    | SS and C TECHNOLOGIES HOLDINGS INC              | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |     36656 | NS      | $3253586.56   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MATCH GROUP INC                    | MATCH GROUP INC                                 | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     10300 | NS      | $363796.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                       | ALPHABET INC CL A                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     40623 | NS      | $9875451.30   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKSTONE SECURED LENDING FUND    | BLACKSTONE SECURED LENDING FUND                 | CUSIP: 09261X102<br>LEI: 549300KM7KWQHVBNH962 | Long             | EC               | CORP              | US        |     24500 | NS      | $638715.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE ENERGY INC                | CHENIERE ENERGY INC                             | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |     12700 | NS      | $2984246.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer