# EDGAR Filing Document

**Accession Number:** 0001580353
**File Stem:** 0000940400-25-011526
**Filing Date:** 2025-11
**Character Count:** 302837
**Document Hash:** 1d6758c35b582b244ba9afae9156cb27
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-011526.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000940400-25-011526

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Forethought Variable Insurance Trust
- **CENTRAL INDEX KEY:** 0001580353

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1213

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22865
- **FILM NUMBER:** 251534546

**BUSINESS ADDRESS:**
- **STREET 1:** 10 WEST MARKET STREET
- **STREET 2:** SUITE 2300
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46204
- **BUSINESS PHONE:** 317-223-2700

**MAIL ADDRESS:**
- **STREET 1:** 10 WEST MARKET STREET
- **STREET 2:** SUITE 2300
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46204

## Series and Classes Contracts Data

### Global Atlantic Wellington Research Managed Risk Portfolio (Series ID: S000042090)

| Class ID   | Class Name                                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000130711 | Global Atlantic Wellington Research Managed Risk Portfolio Class II Shares |  |

## Nport-Ex

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Common Stocks - 63.3%** |  |  |
| **Aerospace & Defense - 0.9%** |  |  |
| Boeing Co. (The) <sup>\*</sup> | 3720 | $802888 |
| L3Harris Technologies, Inc. | 562 | 171640 |
| Loar Holdings, Inc. <sup>\*</sup> | 1286 | 102880 |
| Northrop Grumman Corp. | 1190 | 725091 |
| RTX Corp. | 1347 | 225393 |
| Standard Aero, Inc. <sup>\*</sup> | 20833 | 568533 |
|  |  | 2596425 |
| **Air Freight & Logistics - 0.3%** |  |  |
| C.H. Robinson Worldwide, Inc. | 7385 | 977774 |
| **Automobile Components - 0.2%** |  |  |
| Goodyear Tire & Rubber Co. (The) <sup>\*</sup> | 25410 | 190067 |
| Modine Manufacturing Co. <sup>\*</sup> | 2567 | 364924 |
|  |  | 554991 |
| **Automobiles - 1.0%** |  |  |
| Tesla, Inc. <sup>\*</sup> | 6080 | 2703898 |
| **Banks - 2.0%** |  |  |
| JPMorgan Chase & Co. | 1397 | 440656 |
| KeyCorp | 49990 | 934313 |
| Wells Fargo & Co. | 49436 | 4143725 |
|  |  | 5518694 |
| **Beverages - 0.8%** |  |  |
| Celsius Holdings, Inc. <sup>\*</sup> | 3758 | 216047 |
| Coca-Cola Co. (The) | 15159 | 1005345 |
| Monster Beverage Corp. <sup>\*</sup> | 5802 | 390533 |
| PepsiCo, Inc. | 2712 | 380873 |
| Vita Coco Co., Inc. (The) <sup>\*</sup> | 3500 | 148645 |
|  |  | 2141443 |
| **Biotechnology - 1.3%** |  |  |
| AbbVie, Inc. | 3307 | 765703 |
| Akero Therapeutics, Inc. <sup>\*</sup> | 728 | 34565 |
| Alnylam Pharmaceuticals, Inc. <sup>\*</sup> | 286 | 130416 |
| Argenx SE, ADR <sup>\*</sup> | 273 | 201354 |
| Ascendis Pharma A/S, ADR <sup>\*</sup> | 591 | 117497 |
| Avidity Biosciences, Inc. <sup>\*</sup> | 3185 | 138770 |
| Cytokinetics, Inc. <sup>\*</sup> | 3671 | 201758 |
| Disc Medicine, Inc., Class A <sup>\*</sup> | 664 | 43877 |
| Exact Sciences Corp. <sup>\*</sup> | 251 | 13732 |
| Gilead Sciences, Inc. | 4701 | 521811 |
| Kymera Therapeutics, Inc. <sup>\*</sup> | 875 | 49525 |
| Merus NV <sup>\*</sup> | 381 | 35871 |
| Metsera, Inc. <sup>\*</sup> | 652 | 34119 |
| Monopar Therapeutics, Inc. <sup>\*</sup> | 560 | 45735 |
| Natera, Inc. <sup>\*</sup> | 110 | 17707 |
| Newamsterdam Pharma Co. NV <sup>\*</sup> | 6700 | 190548 |
| PTC Therapeutics, Inc. <sup>\*</sup> | 961 | 58977 |
| REVOLUTION Medicines, Inc. <sup>\*</sup> | 2717 | 126884 |
| Scholar Rock Holding Corp. <sup>\*</sup> | 1174 | 43720 |
| Soleno Therapeutics, Inc. <sup>\*</sup> | 776 | 52458 |
| Ultragenyx Pharmaceutical, Inc. <sup>\*</sup> | 1138 | 34231 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Biotechnology (continued)** |  |  |
| United Therapeutics Corp. <sup>\*</sup> | 745 | $312311 |
| Vertex Pharmaceuticals, Inc. <sup>\*</sup> | 1432 | 560829 |
|  |  | 3732398 |
| **Broadline Retail - 2.9%** |  |  |
| Amazon.com, Inc. <sup>\*</sup> | 37217 | 8171737 |
| **Building Products - 0.5%** |  |  |
| AAON, Inc. | 7131 | 666321 |
| Builders FirstSource, Inc. <sup>\*</sup> | 1300 | 157625 |
| Johnson Controls International PLC | 4039 | 444088 |
|  |  | 1268034 |
| **Capital Markets - 2.9%** |  |  |
| Ares Management Corp., Class A | 20904 | 3342341 |
| Goldman Sachs Group, Inc. (The) | 4240 | 3376524 |
| Intercontinental Exchange, Inc. | 8419 | 1418433 |
|  |  | 8137298 |
| **Chemicals - 0.9%** |  |  |
| Celanese Corp. | 4679 | 196892 |
| FMC Corp. | 7815 | 262818 |
| Ingevity Corp. <sup>\*</sup> | 1367 | 75445 |
| Linde PLC | 2778 | 1319550 |
| PPG Industries, Inc. | 6071 | 638123 |
|  |  | 2492828 |
| **Commercial Services & Supplies - 0.6%** |  |  |
| Clean Harbors, Inc. <sup>\*</sup> | 5680 | 1319009 |
| Waste Connections, Inc. | 2517 | 442489 |
|  |  | 1761498 |
| **Communications Equipment - 0.4%** |  |  |
| Arista Networks, Inc. <sup>\*</sup> | 6879 | 1002339 |
| **Construction & Engineering - 0.1%** |  |  |
| Fluor Corp. <sup>\*</sup> | 5451 | 229324 |
| **Construction Materials - 0.3%** |  |  |
| James Hardie Industries PLC <sup>\*</sup> | 50375 | 967704 |
| **Consumer Staples Distribution & Retail - 1.5%** |  |  |
| Casey's General Stores, Inc. | 442 | 249871 |
| Kroger Co. (The) | 4560 | 307390 |
| Performance Food Group Co. <sup>\*</sup> | 4073 | 423755 |
| US Foods Holding Corp. <sup>\*</sup> | 13955 | 1069232 |
| Walmart, Inc. | 19669 | 2027087 |
|  |  | 4077335 |
| **Containers & Packaging - 0.1%** |  |  |
| Packaging Corp. of America | 1445 | 314909 |
| **Distributors - 0.3%** |  |  |
| Pool Corp. | 2866 | 888661 |
| **Electric Utilities - 0.8%** |  |  |
| American Electric Power Co., Inc. | 8139 | 915638 |
| NextEra Energy, Inc. | 5268 | 397681 |
| PG&E Corp. | 68487 | 1032784 |
|  |  | 2346103 |

---

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited) (Continued)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Electrical Equipment - 0.2%** |  |  |
| Vertiv Holdings Co., Class A | 3036 | $458011 |
| **Electronic Equipment, Instruments & Components - 0.5%** |  |  |
| CDW Corp. | 1710 | 272369 |
| Coherent Corp. <sup>\*</sup> | 4394 | 473321 |
| Flex Ltd. <sup>\*</sup> | 11273 | 653496 |
|  |  | 1399186 |
| **Entertainment - 1.0%** |  |  |
| Netflix, Inc. <sup>\*</sup> | 1319 | 1581375 |
| Walt Disney Co. (The) | 9913 | 1135039 |
|  |  | 2716414 |
| **Financial Services - 2.5%** |  |  |
| Berkshire Hathaway, Inc., Class B <sup>\*</sup> | 6544 | 3289930 |
| Equitable Holdings, Inc. | 14196 | 720873 |
| Mastercard, Inc., Class A | 5186 | 2949849 |
|  |  | 6960652 |
| **Food Products - 0.1%** |  |  |
| Freshpet, Inc. <sup>\*</sup> | 4472 | 246452 |
| **Gas Utilities - 0.3%** |  |  |
| Atmos Energy Corp. | 4793 | 818405 |
| **Ground Transportation - 0.2%** |  |  |
| Knight-Swift Transportation Holdings, Inc. | 12766 | 504385 |
| **Health Care Equipment & Supplies - 1.1%** |  |  |
| Abbott Laboratories | 4659 | 624026 |
| Align Technology, Inc. <sup>\*</sup> | 817 | 102305 |
| Boston Scientific Corp. <sup>\*</sup> | 3774 | 368456 |
| Cooper Cos., Inc. (The) <sup>\*</sup> | 3605 | 247159 |
| Edwards Lifesciences Corp. <sup>\*</sup> | 6270 | 487618 |
| Intuitive Surgical, Inc. <sup>\*</sup> | 1369 | 612258 |
| LivaNova PLC <sup>\*</sup> | 1525 | 79880 |
| Medtronic PLC | 4222 | 402103 |
| Stryker Corp. | 120 | 44360 |
|  |  | 2968165 |
| **Health Care Providers & Services - 1.3%** |  |  |
| Acadia Healthcare Co., Inc. <sup>\*</sup> | 6271 | 155270 |
| Cencora, Inc. | 1770 | 553178 |
| CVS Health Corp. | 5302 | 399718 |
| Elevance Health, Inc. | 881 | 284668 |
| HCA Healthcare, Inc. | 999 | 425774 |
| Labcorp Holdings, Inc. | 1346 | 386383 |
| UnitedHealth Group, Inc. | 3980 | 1374294 |
|  |  | 3579285 |
| **Health Care REITs - 0.5%** |  |  |
| Welltower, Inc. | 8641 | 1539308 |
| **Health Care Technology - 0.0%<sup>†</sup>** |  |  |
| HeartFlow, Inc. <sup>\*</sup> | 1200 | 40392 |
| **Hotels, Restaurants & Leisure - 1.3%** |  |  |
| Flutter Entertainment PLC <sup>\*</sup> | 2110 | 535940 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Hotels, Restaurants & Leisure (continued)** |  |  |
| Hyatt Hotels Corp., Class A | 8214 | $1165813 |
| Marriott International, Inc., Class A | 1994 | 519317 |
| Royal Caribbean Cruises Ltd. | 2156 | 697639 |
| Starbucks Corp. | 4513 | 381800 |
| Wingstop, Inc. | 1241 | 312335 |
|  |  | 3612844 |
| **Household Durables - 0.1%** |  |  |
| Champion Homes, Inc. <sup>\*</sup> | 4519 | 345116 |
| **Household Products - 0.0%<sup>†</sup>** |  |  |
| Church & Dwight Co., Inc. | 983 | 86140 |
| **Independent Power and Renewable Electricity Producers - 0.3%** |  |  |
| Vistra Corp. | 3831 | 750569 |
| **Insurance - 1.2%** |  |  |
| American International Group, Inc. | 8020 | 629891 |
| Chubb Ltd. | 2838 | 801026 |
| Everest Group Ltd. | 1295 | 453548 |
| Hamilton Insurance Group Ltd., Class B <sup>\*</sup> | 11738 | 291102 |
| Marsh & McLennan Cos., Inc. | 6042 | 1217644 |
|  |  | 3393211 |
| **Interactive Media & Services - 4.5%** |  |  |
| Alphabet, Inc., Class A | 41941 | 10195857 |
| Meta Platforms, Inc., Class A | 3221 | 2365438 |
|  |  | 12561295 |
| **IT Services - 0.3%** |  |  |
| Snowflake, Inc. <sup>\*</sup> | 3507 | 791004 |
| **Life Sciences Tools & Services - 0.6%** |  |  |
| 10X Genomics, Inc., Class A <sup>\*</sup> | 2710 | 31680 |
| Agilent Technologies, Inc. | 2914 | 374012 |
| Bio-Techne Corp. | 1508 | 83890 |
| Danaher Corp. | 2184 | 433000 |
| ICON PLC <sup>\*</sup> | 632 | 110600 |
| Thermo Fisher Scientific, Inc. | 1517 | 735775 |
|  |  | 1768957 |
| **Machinery - 0.5%** |  |  |
| IDEX Corp. | 3179 | 517414 |
| Ingersoll Rand, Inc. | 2941 | 242985 |
| Middleby Corp. (The) <sup>\*</sup> | 3469 | 461134 |
| PACCAR, Inc. | 2055 | 202048 |
|  |  | 1423581 |
| **Media - 0.2%** |  |  |
| New York Times Co. (The), Class A | 7690 | 441406 |
| **Metals & Mining - 0.2%** |  |  |
| Nucor Corp. | 3427 | 464119 |
| **Multi-Utilities - 0.4%** |  |  |
| Sempra | 13533 | 1217699 |
| **Oil, Gas & Consumable Fuels - 2.3%** |  |  |
| EQT Corp. | 9472 | 515561 |

---

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited) (Continued)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Oil, Gas & Consumable Fuels (continued)** |  |  |
| Exxon Mobil Corp. | 25494 | $2874448 |
| Marathon Petroleum Corp. | 3858 | 743591 |
| Shell PLC, ADR | 21524 | 1539612 |
| Targa Resources Corp. | 4939 | 827480 |
|  |  | 6500692 |
| **Personal Care Products - 0.5%** |  |  |
| BellRing Brands, Inc. <sup>\*</sup> | 9473 | 344344 |
| elf Beauty, Inc. <sup>\*</sup> | 1130 | 149702 |
| Unilever PLC, ADR | 15109 | 895661 |
|  |  | 1389707 |
| **Pharmaceuticals - 2.4%** |  |  |
| AstraZeneca PLC, ADR | 6912 | 530289 |
| Eli Lilly & Co. | 3637 | 2775031 |
| GSK PLC, ADR | 13253 | 571999 |
| Haleon PLC, ADR | 78783 | 706683 |
| Johnson & Johnson | 3935 | 729628 |
| Merck & Co., Inc. | 16169 | 1357064 |
| Structure Therapeutics, Inc., ADR <sup>\*</sup> | 5188 | 145264 |
|  |  | 6815958 |
| **Professional Services - 0.1%** |  |  |
| KBR, Inc. | 8735 | 413078 |
| **Residential REITs - 0.2%** |  |  |
| Camden Property Trust | 4456 | 475812 |
| **Semiconductors & Semiconductor Equipment - 8.6%** |  |  |
| Advanced Micro Devices, Inc. <sup>\*</sup> | 10480 | 1695559 |
| Broadcom, Inc. | 16286 | 5372914 |
| First Solar, Inc. <sup>\*</sup> | 1424 | 314035 |
| MKS, Inc. | 2692 | 333189 |
| NVIDIA Corp. | 84141 | 15699028 |
| NXP Semiconductors NV | 2488 | 566592 |
|  |  | 23981317 |
| **Software - 7.4%** |  |  |
| Autodesk, Inc. <sup>\*</sup> | 4173 | 1325637 |
| Figma, Inc., Class A <sup>\*</sup> | 6399 | 331916 |
| Intuit, Inc. | 1588 | 1084461 |
| Microsoft Corp. | 24351 | 12612601 |
| Oracle Corp. | 3579 | 1006558 |
| Palantir Technologies, Inc., Class A <sup>\*</sup> | 3096 | 564773 |
| SAP SE, ADR | 3811 | 1018337 |
| ServiceNow, Inc. <sup>\*</sup> | 1326 | 1220291 |
| Synopsys, Inc. <sup>\*</sup> | 3188 | 1572927 |
|  |  | 20737501 |
| **Specialty Retail - 1.0%** |  |  |
| Burlington Stores, Inc. <sup>\*</sup> | 2266 | 576697 |
| Lowe's Cos., Inc. | 5808 | 1459608 |
| O'Reilly Automotive, Inc. <sup>\*</sup> | 4904 | 528700 |
| Williams-Sonoma, Inc. | 1839 | 359433 |
|  |  | 2924438 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Technology Hardware, Storage & Peripherals - 4.2%** |  |  |
| Apple, Inc. | 44985 | $11454530 |
| NetApp, Inc. | 3676 | 435459 |
|  |  | 11889989 |
| **Textiles, Apparel & Luxury Goods - 0.1%** |  |  |
| Deckers Outdoor Corp. <sup>\*</sup> | 3135 | 317795 |
| **Tobacco - 0.3%** |  |  |
| British American Tobacco PLC, ADR | 3077 | 163327 |
| Philip Morris International, Inc. | 3931 | 637608 |
|  |  | 800935 |
| **Trading Companies & Distributors - 0.5%** |  |  |
| Ferguson Enterprises, Inc. | 1225 | 275110 |
| WESCO International, Inc. | 3534 | 747441 |
| WW Grainger, Inc. | 361 | 344019 |
|  |  | 1366570 |
| **Wireless Telecommunication Services - 0.6%** |  |  |
| T-Mobile US, Inc. | 6585 | 1576317 |
| **Total Common Stocks** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost - $102,160,974)** |  | **177160098** |
| **U.S. Treasury Securities and Agency Bonds - 14.7%** |  |  |
| U.S. Treasury Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 5/15/42 | $45000 | 37779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 8/15/42 | 441500 | 376017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/42 | 762700 | 704782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 5/15/43 | 672000 | 608317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 8/15/43 | 383300 | 369645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/43 | 425700 | 429940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 2/15/44 | 297400 | 290709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 5/15/44 | 200200 | 198605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 8/15/44 | 400400 | 371355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/15/44 | 337700 | 334297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 2/15/45 | 504200 | 360720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 2/15/45 | 494500 | 497127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 5/15/45 | 500100 | 518932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 8/15/45 | 545000 | 413796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 8/15/45 | 170600 | 174252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/15/46 | 730000 | 512796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 5/15/47 | 355900 | 270720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 8/15/47 | 320000 | 231762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 5/15/51 | 251500 | 161736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 5/15/52 | 701700 | 500235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/52 | 555100 | 490830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 2/15/53 | 478300 | 395121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 5/15/53 | 589700 | 486595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 8/15/53 | 340300 | 307333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/53 | 514800 | 515242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 5/15/54 | 289200 | 283879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 8/15/54 | 28500 | 26288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/54 | 469100 | 451289 |

---

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited) (Continued)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **U.S. Treasury Securities and Agency Bonds (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 2/15/55 | $336600 | $330552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 5/15/55 | 786200 | 788043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 8/15/55 | 57700 | 57853 |
| U.S. Treasury Note |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 12/15/26 | 207800 | 209456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 12/31/26 | 1164000 | 1129489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 1/15/27 | 363000 | 364390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 1/31/27 | 735200 | 739249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 2/28/27 | 367700 | 369926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 3/15/27 | 600000 | 604922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 3/31/27 | 117000 | 115035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 3/31/27 | 1275300 | 1279186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 4/30/27 | 895800 | 897200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 5/31/27 | 144000 | 141632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 5/31/27 | 433100 | 434673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 6/30/27 | 292300 | 292871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 7/15/27 | 160300 | 162335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 7/31/27 | 246400 | 247449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 8/15/27 | 397200 | 398084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 8/31/27 | 1960100 | 1960330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 10/31/27 | 342700 | 346234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 11/15/27 | 581000 | 587014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/15/27 | 69500 | 70081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 12/31/27 | 10000 | 10057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 1/31/28 | 325200 | 324387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 2/29/28 | 507500 | 512059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 3/15/28 | 409300 | 411954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 3/31/28 | 34000 | 32097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 3/31/28 | 367000 | 367158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 4/15/28 | 161600 | 162124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 9/15/28 | 240000 | 238406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 9/30/28 | 83100 | 85453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 10/31/28 | 600000 | 621516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 11/30/28 | 195000 | 182630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 11/30/28 | 259300 | 264952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 12/31/28 | 1283500 | 1287862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 1/31/29 | 680600 | 688124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 2/28/29 | 13200 | 13454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 3/31/29 | 53000 | 50789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 3/31/29 | 308200 | 312943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 5/31/29 | 586000 | 602573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 7/31/29 | 125000 | 120327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 7/31/29 | 463600 | 468852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 8/31/29 | 580500 | 579230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 9/30/29 | 479800 | 476501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/31/29 | 86100 | 87095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 10/31/29 | 688800 | 699939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 11/30/29 | 590800 | 600447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 12/31/29 | 196300 | 197603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 1/31/30 | 388500 | 396831 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **U.S. Treasury Securities and Agency Bonds (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 3/31/30 | $10000 | $10117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 4/30/30 | 605500 | 609474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 5/31/30 | 579000 | 585921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 6/30/30 | 451000 | 453872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 7/31/30 | 183500 | 184647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 8/31/30 | 1073300 | 1068101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 9/30/30 | 269100 | 267796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 12/31/30 | 521000 | 520573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 4/30/31 | 214600 | 223419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 5/31/31 | 110500 | 115041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 8/31/31 | 57800 | 57552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 9/30/31 | 62800 | 62076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/31/31 | 166400 | 172204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 1/31/32 | 40000 | 41114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 3/31/32 | 235000 | 238167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 5/31/32 | 277300 | 280864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 7/31/32 | 104400 | 104906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 8/31/32 | 521900 | 520514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/15/34 | 516500 | 522391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 2/15/35 | 942000 | 979091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 5/15/35 | 1344300 | 1356693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 8/15/35 | 961600 | 969413 |
| **Total U.S. Treasury Securities and Agency Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost - $41,683,048)** |  | **40985412** |
| **Agency Mortgage Backed Securities - 9.0%** |  |  |
| **Federal Home Loan Mortgage Corporation - 3.1%** |  |  |
| Freddie Mac Gold Pool |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 9/1/28 | $879 | 867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/1/28 | 1918 | 1893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 12/1/31 | 18963 | 18319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/1/34 | 20702 | 20777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 2/1/43 | 14257 | 13029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 10/1/43 | 7186 | 6736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 8/1/44 | 4267 | 4117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/1/46 | 429078 | 389300 |
| Freddie Mac Pool |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22%, 9/1/30 | 686953 | 690075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 9/1/30 | 435000 | 440668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 1/1/38 | 115817 | 116017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 5/1/38 | 25101 | 25173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 6/1/40 | 374105 | 384801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 11/1/41 | 219130 | 189086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 2/1/42 | 409553 | 362929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/1/47 | 7800 | 7637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/1/48 | 138223 | 132970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/1/48 | 7764 | 7657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 5/1/49 | 21708 | 21086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 7/1/49 | 26033 | 25247 |

---

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited) (Continued)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Federal Home Loan Mortgage Corporation (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 8/1/49 | $16124 | $15920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 2/1/51 | 120460 | 97966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 3/1/51 | 166480 | 135382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 5/1/51 | 112175 | 92117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 5/1/51 | 1682748 | 1374439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 7/1/51 | 596914 | 511642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 4/1/52 | 570659 | 467633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 8/1/52 | 398152 | 386497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 8/1/52 | 189619 | 190799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/1/52 | 530512 | 528146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 1/1/53 | 183325 | 182110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 1/1/53 | 76529 | 77455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 2/1/53 | 28670 | 28999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 3/1/53 | 47262 | 47853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 6/1/53 | 392361 | 396859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 7/1/53 | 151665 | 153450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 8/1/53 | 152527 | 154276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 8/1/53 | 402053 | 412071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 9/1/53 | 46473 | 47153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 10/1/53 | 66018 | 67591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 11/1/53 | 471284 | 487242 |
|  |  | 8713984 |
| **Federal National Mortgage Association - 4.0%** |  |  |
| Fannie Mae or Freddie Mac |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/1/40<sup>(a)</sup> | 1244000 | 1257218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/1/53<sup>(a)</sup> | 154000 | 155323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 11/1/54<sup>(a)</sup> | 145000 | 146133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/1/55<sup>(a)</sup> | 165000 | 138987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/1/55<sup>(a)</sup> | 346000 | 303885 |
| Fannie Mae Pool |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 4/1/28 | 2430 | 2400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/1/28 | 1596 | 1574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 2/1/30 | 6641 | 6472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.47%, 5/1/30 | 381000 | 386462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 6/1/30 | 22218 | 21639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.34%, 8/1/30 | 199000 | 200958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.34%, 8/1/30 | 177000 | 178741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.42%, 8/1/30 | 431000 | 436754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 10/1/30 | 440000 | 440516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.83%, 10/1/30 | 362000 | 372454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/1/31 | 44259 | 43063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 12/1/31 | 4753 | 4551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 1/1/38 | 123765 | 123839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 4/1/38 | 247142 | 247853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 7/1/40 | 397370 | 407769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 2/1/41 | 54134 | 48939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 5/1/41 | 135902 | 117261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 7/1/41 | 255149 | 221103 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Federal National Mortgage Association (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 6/1/43 | $172289 | $152471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 7/1/43 | 22413 | 20749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/1/43 | 8087 | 7835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 1/1/46 | 112160 | 107806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 2/1/46 | 125178 | 120319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 3/1/46 | 12790 | 12474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/1/46 | 434367 | 396681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 7/1/48 | 22696 | 22538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/1/48 | 10095 | 10002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 1/1/49 | 16130 | 15732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 8/1/49 | 6759 | 6546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/1/50 | 7596 | 7496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 11/1/50 | 269658 | 218200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/1/50 | 285790 | 232586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 2/1/51 | 62698 | 51485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 4/1/51 | 157097 | 129009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 5/1/51 | 492402 | 419019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 7/1/51 | 533312 | 491521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 8/1/51 | 659360 | 567831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 8/1/51 | 15471 | 15113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 9/1/51 | 177056 | 145380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/1/51 | 326830 | 292393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/1/51 | 542792 | 465474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 12/1/51 | 123320 | 105262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 1/1/52 | 318702 | 273063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 7/1/52 | 212064 | 206523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 8/1/52 | 21279 | 20815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 8/1/52 | 36723 | 36721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 9/1/52 | 114276 | 111995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 9/1/52 | 10624 | 10428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 9/1/52 | 36345 | 36571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 9/1/52 | 17049 | 17131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/1/52 | 33902 | 33879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/1/52 | 23828 | 23441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 1/1/53 | 174883 | 177426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 8/1/53 | 48045 | 48642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 9/1/53 | 842852 | 864112 |
|  |  | 11138563 |
| **Government National Mortgage Association - 1.9%** |  |  |
| Ginnie Mae |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 10/20/55<sup>(a)</sup> | 70000 | 57914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/20/55<sup>(a)</sup> | 586000 | 504418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/20/55<sup>(a)</sup> | 123000 | 109873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/20/55<sup>(a)</sup> | 630000 | 634627 |
| Ginnie Mae II Pool |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/20/42 | 11214 | 10382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 7/20/43 | 11925 | 11199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/20/44 | 3884 | 3773 |

---

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited) (Continued)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Government National Mortgage Association (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 8/20/48 | $9966 | $9562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 9/20/48 | 22314 | 21306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/20/48 | 9672 | 9250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/20/50 | 641911 | 532130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 1/20/51 | 166676 | 138097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 2/20/51 | 146994 | 121695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 3/20/51 | 162751 | 140310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 7/20/51 | 544931 | 487542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 8/20/51 | 624473 | 537919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/20/51 | 258313 | 222506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 1/20/52 | 646802 | 591309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/20/52 | 337087 | 310432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/20/52 | 138057 | 131420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 5/20/52 | 396256 | 377192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 8/20/52 | 373589 | 355330 |
|  |  | 5318186 |
| **Total Agency Mortgage Backed Securities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost - $25,823,107)** |  | **25170733** |
| **Corporate Bonds and Notes - 7.5%** |  |  |
| **Aerospace & Defense - 0.1%** |  |  |
| Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 5/1/40 | 110000 | 112264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.81%, 5/1/50 | 28000 | 27967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.86%, 5/1/54 | 252000 | 286989 |
|  |  | 427220 |
| **Agriculture - 0.1%** |  |  |
| BAT Capital Corp., 4.63%, 3/22/33 | 115000 | 113816 |
| JBS USA LUX Sarl / JBS USA Food Co. / JBS USA Foods Group, 5.95%, 4/20/35<sup>(b)</sup> | 45000 | 47360 |
|  |  | 161176 |
| **Banks - 1.7%** |  |  |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, (SOFR + 2.04%), 7/22/28<sup>(c)</sup> | 229000 | 232337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, (SOFR + 1.00%), 1/24/31<sup>(c)</sup> | 420000 | 433562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, (SOFR + 2.16%), 7/22/33<sup>(c)</sup> | 76000 | 77675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.51%, (SOFR + 1.31%), 1/24/36<sup>(c)</sup> | 171000 | 178728 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, (SOFR + 1.68%), 1/14/31<sup>(b),(c)</sup> | 270000 | 282061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.39%, (SOFR + 1.58%), 5/28/31<sup>(b),(c)</sup> | 250000 | 256489 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, (SOFR + 1.46%), 5/7/31<sup>(c)</sup> | 195000 | 198654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, (SOFR + 1.17%), 9/11/31<sup>(c)</sup> | 105000 | 105066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17%, (SOFR + 1.49%), 9/11/36<sup>(c)</sup> | 70000 | 70673 |
| Commonwealth Bank of Australia, 5.07%, 9/14/28<sup>(b)</sup> | 500000 | 516066 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Banks (continued)** |  |  |
| HSBC Holdings PLC, 5.74%, (SOFR + 1.96%), 9/10/36<sup>(c)</sup> | $200000 | $204101 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04%, (SOFR + 1.19%), 1/23/28<sup>(c)</sup> | 230000 | 232610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.07%, (SOFR + 1.02%), 6/1/29<sup>(c)</sup> | 10000 | 9490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.14%, (SOFR + 0.90%), 1/24/31<sup>(c)</sup> | 170000 | 175616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, (SOFR + 1.44%), 4/22/31<sup>(c)</sup> | 221000 | 228425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.91%, (SOFR + 2.08%), 7/25/33<sup>(c)</sup> | 153000 | 156012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.57%, (SOFR + 1.68%), 4/22/36<sup>(c)</sup> | 145000 | 152875 |
| Morgan Stanley, 4.65%, (SOFR + 1.10%), 10/18/30<sup>(c)</sup> | 212000 | 214369 |
| Morgan Stanley Private Bank NA, 4.73%, (SOFR + 1.08%), 7/18/31<sup>(c)</sup> | 250000 | 253765 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, (SOFR + 1.07%), 4/22/28<sup>(c)</sup> | 224000 | 229175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, (SOFR + 1.79%), 10/23/29<sup>(c)</sup> | 330000 | 349573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, (SOFR + 1.11%), 1/24/31<sup>(c)</sup> | 225000 | 232831 |
|  |  | 4790153 |
| **Diversified Financial Services - 0.2%** |  |  |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92%, (SOFR + 1.22%), 7/20/33<sup>(c)</sup> | 220000 | 223847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.67%, (SOFR + 1.79%), 4/25/36<sup>(c)</sup> | 145000 | 153177 |
| Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, (SOFR + 1.40%), 7/29/29<sup>(c)</sup> | 50000 | 50432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, (SOFR + 2.07%), 7/29/36<sup>(c)</sup> | 35000 | 35803 |
|  |  | 463259 |
| **Electric - 0.9%** |  |  |
| Alabama Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45%, 9/15/30 | 30000 | 26298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 4/2/35 | 30000 | 30666 |
| Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 5/15/46 | 75000 | 57919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 8/15/55 | 90000 | 92156 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 9/15/35 | 55000 | 54642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 9/15/55 | 70000 | 69700 |
| Enel Finance International NV, 4.13%, 9/30/28<sup>(b)</sup> | 200000 | 199531 |
| FirstEnergy Corp., 4.85%, 7/15/47 | 90000 | 79635 |
| FirstEnergy Pennsylvania Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 3/30/26<sup>(b)</sup> | 10000 | 10028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 4/1/28<sup>(b)</sup> | 15000 | 15341 |
| Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 5/15/32 | 216000 | 218596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 9/1/40 | 65000 | 61911 |
| Ohio Edison Co., 4.95%, 12/15/29<sup>(b)</sup> | 25000 | 25551 |
| Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 2/15/44 | 75000 | 64098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 7/1/50 | 259859 | 223678 |

---

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited) (Continued)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Electric (continued)** |  |  |
| Public Service Co. of Oklahoma, 5.45%, 1/15/36 | $230000 | $234947 |
| SCE Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.86%, 11/15/31 | 74763 | 66476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.94%, 5/15/38 | 50000 | 38772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.51%, 11/15/43 | 30000 | 20706 |
| Sempra, 4.13%, (US 5 Year CMT T-Note + 2.87%), 4/1/52<sup>(c)</sup> | 251000 | 244953 |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 10/1/43 | 164000 | 139621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/1/47 | 177000 | 133736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 9/15/55 | 10000 | 10087 |
| Texas Electric Market Stabilization Funding N LLC, 4.27%, 8/1/34<sup>(b)</sup> | 294293 | 293652 |
| Trans-Allegheny Interstate Line Co., 5.00%, 1/15/31<sup>(b)</sup> | 30000 | 30773 |
| Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 9/15/35 | 50000 | 49730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 9/15/55 | 45000 | 44815 |
|  |  | 2538018 |
| **Food - 0.5%** |  |  |
| JBS USA Holding Lux Sarl / JBS USA Food Co. / JBS Lux Co. Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 4/1/33 | 346000 | 361402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 3/15/34 | 443000 | 490457 |
| JBS USA Holding Lux Sarl / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 3/1/56<sup>(b)</sup> | 125000 | 128174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 4/15/66<sup>(b)</sup> | 100000 | 103192 |
| JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co. Sarl, 3.00%, 5/15/32 | 55000 | 49217 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 5/1/45<sup>(b)</sup> | 65000 | 65919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 5/1/55<sup>(b)</sup> | 196000 | 198562 |
|  |  | 1396923 |
| **Gas - 0.0%<sup>†</sup>** |  |  |
| Southern Co. Gas Capital Corp., 5.10%, 9/15/35 | 75000 | 75206 |
| **Healthcare-Services - 0.1%** |  |  |
| Memorial Sloan-Kettering Cancer Center, 2.96%, 1/1/50 | 20000 | 13269 |
| Providence St Joseph Health Obligated Group, 5.40%, 10/1/33 | 180000 | 185039 |
| Toledo Hospital (The), 5.75%, 11/15/38 | 35000 | 35039 |
|  |  | 233347 |
| **Insurance - 1.2%** |  |  |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 1/9/29<sup>(b)</sup> | 445000 | 459980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 1/7/30<sup>(b)</sup> | 355000 | 365992 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Insurance (continued)** |  |  |
| Athene Holding Ltd., 6.63%, 5/19/55 | $50000 | $53472 |
| Brighthouse Financial Global Funding, 5.65%, 6/10/29<sup>(b)</sup> | 393000 | 403399 |
| Equitable America Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 9/15/27<sup>(b)</sup> | 65000 | 64899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 9/15/32<sup>(b)</sup> | 35000 | 34822 |
| F&G Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 6/10/27<sup>(b)</sup> | 49000 | 50270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 9/8/28<sup>(b)</sup> | 45000 | 45176 |
| Fortitude Global Funding, 4.63%, 10/6/28<sup>(b)</sup> | 170000 | 170140 |
| Liberty Mutual Group, Inc., 4.57%, 2/1/29<sup>(b)</sup> | 147000 | 147993 |
| NLG Global Funding, 4.35%, 9/15/30<sup>(b)</sup> | 160000 | 158424 |
| Omnis Funding Trust, 6.72%, 5/15/55<sup>(b)</sup> | 166000 | 179087 |
| Pricoa Global Funding I, 5.35%, 5/28/35<sup>(b)</sup> | 150000 | 155482 |
| Protective Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 6/5/30<sup>(b)</sup> | 150000 | 152598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.43%, 1/14/32<sup>(b)</sup> | 255000 | 265460 |
| RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 8/25/28<sup>(b)</sup> | 270000 | 270316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 8/25/32<sup>(b)</sup> | 60000 | 60375 |
| Sammons Financial Group Global Funding, 4.95%, 6/12/30<sup>(b)</sup> | 345000 | 350108 |
|  |  | 3387993 |
| **Media - 0.2%** |  |  |
| Charter Communications Operating LLC / Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 12/1/35 | 25000 | 25238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 3/1/42 | 175000 | 126011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.48%, 10/23/45 | 30000 | 29609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 5/1/47 | 60000 | 51814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 6/1/52 | 465000 | 314557 |
| Time Warner Cable LLC, 5.88%, 11/15/40 | 31000 | 29629 |
|  |  | 576858 |
| **Mining - 0.5%** |  |  |
| Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 4/10/27<sup>(b)</sup> | 200000 | 201484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 9/10/30<sup>(b)</sup> | 437000 | 401163 |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.37%, 4/4/29<sup>(b)</sup> | 160000 | 164892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 10/6/30<sup>(b)</sup> | 593000 | 640424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.89%, 4/4/54<sup>(b)</sup> | 54000 | 54488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.14%, 4/1/55<sup>(b)</sup> | 45000 | 47024 |
|  |  | 1509475 |
| **Oil & Gas - 0.1%** |  |  |
| Saudi Arabian Oil Co., 6.38%, 6/2/55<sup>(b)</sup> | 200000 | 212705 |

---

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited) (Continued)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Passenger Airlines - 0.0%<sup>†</sup>** |  |  |
| United Airlines 2016-1 Class AA Pass-Through Trust, 3.10%, 7/7/28 | $57787 | $55842 |
| United Airlines 2018-1 Class B Pass Through Trust, 4.60%, 3/1/26 | 12134 | 12063 |
|  |  | 67905 |
| **Pipelines - 0.6%** |  |  |
| Columbia Pipelines Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 10/1/31<sup>(b)</sup> | 115000 | 116806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 1/15/34<sup>(b)</sup> | 32000 | 32977 |
| Columbia Pipelines Operating Co. LLC, 6.50%, 8/15/43<sup>(b)</sup> | 138000 | 147091 |
| Energy Transfer LP, 6.20%, 4/1/55 | 81000 | 81380 |
| Enterprise Products Operating LLC, 5.20%, 1/15/36 | 165000 | 167742 |
| Gray Oak Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 10/15/25<sup>(b)</sup> | 144000 | 143862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 10/15/27<sup>(b)</sup> | 25000 | 24649 |
| Greensaif Pipelines Bidco Sarl, 6.10%, 8/23/42<sup>(b)</sup> | 300000 | 315505 |
| Oneok, Inc., 5.63%, 1/15/28<sup>(b)</sup> | 226000 | 230934 |
| Whistler Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 9/30/29<sup>(b)</sup> | 278000 | 285941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 9/30/31<sup>(b)</sup> | 139000 | 144556 |
|  |  | 1691443 |
| **REITS - 0.7%** |  |  |
| Crown Castle, Inc., 5.00%, 1/11/28 | 228000 | 231223 |
| Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 1/15/33 | 45000 | 45272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 6/15/35 | 412000 | 420860 |
| GLP Capital LP / GLP Financing II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 1/15/32 | 375000 | 337412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 2/15/33 | 130000 | 129967 |
| Healthpeak OP LLC, 4.75%, 1/15/33 | 265000 | 263290 |
| Kilroy Realty LP, 5.88%, 10/15/35 | 105000 | 106367 |
| Kite Realty Group LP, 5.20%, 8/15/32 | 30000 | 30575 |
| SBA Tower Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 1/15/26<sup>(b)</sup> | 95000 | 94269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 11/15/26<sup>(b)</sup> | 115000 | 111630 |
| WEA Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 1/15/27<sup>(b)</sup> | 30000 | 29394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 6/15/29<sup>(b)</sup> | 70000 | 67552 |
|  |  | 1867811 |
| **Semiconductors - 0.3%** |  |  |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 1/25/33<sup>(b)</sup> | 200000 | 210929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 1/25/37<sup>(b)</sup> | 325000 | 347291 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 3/25/40 | 172000 | 156312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 2/21/54 | 107000 | 102781 |
|  |  | 817313 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Software - 0.1%** |  |  |
| Constellation Software, Inc., 5.46%, 2/16/34<sup>(b)</sup> | $183000 | $186919 |
| Synopsys, Inc., 5.00%, 4/1/32 | 220000 | 224834 |
|  |  | 411753 |
| **Telecommunications - 0.2%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 11/1/32 | 215000 | 214050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 11/1/45 | 220000 | 217601 |
|  |  | 431651 |
| **Total Corporate Bonds and Notes** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost - $20,646,339)** |  | **21060209** |
| **Asset Backed and Commercial Backed Securities - 2.4%** |  |  |
| Angel Oak Mortgage Trust 2019-6, 2.62%, 11/25/59 <sup>(b),(d)</sup> | 4751 | 4678 |
| Banc of America Commercial Mortgage Trust 2015-UBS7, 3.71%, 9/15/48 | 9938 | 9918 |
| Broadstreet Group LLC, 4.20%, 10/1/30 | 260000 | 259919 |
| Castlelake Aircraft Structured Trust 2019-1A, 3.97%, 4/15/39 <sup>(b)</sup> | 75362 | 72812 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.53%, 3/15/61<sup>(b)</sup> | 121951 | 101374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.97%, 8/15/62<sup>(b)</sup> | 97261 | 93839 |
| CFMT 2021-AL1 LLC, 1.39%, 9/22/31 <sup>(b)</sup> | 30303 | 30136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue Security Trust, 5.91%,<br> (SOFR + 1.55%), 10/25/41 <sup>(b),(c)</sup> | 39955 | 40041 |
| Durst Commercial Mortgage Trust 2025-151, 5.32%, 8/1/42 <sup>(b),(d)</sup> | 100000 | 101825 |
| Enterprise Fleet Financing 2023-3 LLC, 6.40%, 3/20/30 <sup>(b)</sup> | 194369 | 197281 |
| Fannie Mae REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 6/25/44 | 31194 | 30590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 1/25/45 | 131102 | 120828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/25/45 | 156941 | 147956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 10/25/49 | 178223 | 139179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/25/54 | 234220 | 227753 |
| Flagstar Mortgage Trust 2018-3INV, 4.00%, 5/25/48 <sup>(b),(d)</sup> | 54774 | 52037 |
| Flagstar Mortgage Trust 2021-9INV, 2.00%, 9/25/41 <sup>(b),(d)</sup> | 118505 | 104492 |
| Freddie Mac Multifamily Structured Pass Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.68%, 10/25/31 | 125000 | 128106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 3/25/32 | 280000 | 252011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.99%, 5/25/33 | 150000 | 148182 |
| Freddie Mac REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 9/15/41 | 160597 | 156510 |

---

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited) (Continued)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Asset Backed and Commercial Backed Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 9/15/42 | $143641 | $136459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 6/15/45 | 166851 | 161172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 7/15/48 | 119486 | 111111 |
| Freddie Mac Seasoned Credit Risk Transfer Trust Series 2019-3, 3.50%, 10/25/58 | 67708 | 65433 |
| Freddie Mac Seasoned Credit Risk Transfer Trust Series 2021-1, 2.50%, 9/25/60 | 480857 | 398124 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 10/20/49 | 361106 | 326288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.07%, (1 Month US Libor + 0.71%), 5/20/65<sup>(c)</sup> | 13499 | 13455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09%, (1 Month US Libor + 0.73%), 8/20/65<sup>(c)</sup> | 17601 | 17573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17%, (1 Month US Libor + 0.81%), 10/20/65<sup>(c)</sup> | 10 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.47%, (1 Month US Libor + 1.11%), 12/20/65<sup>(c)</sup> | 19056 | 19106 |
| Home Partners of America Trust, 2.30%, 12/17/26 <sup>(b)</sup> | 326229 | 317187 |
| Horizon Aircraft Finance III Ltd., 2019-2, 3.43%, 11/15/39 <sup>(b)</sup> | 136500 | 131437 |
| Kubota Credit Owner Trust 2023-2, 5.28%, 1/18/28 <sup>(b)</sup> | 228438 | 230292 |
| Metlife Securitization Trust, 3.00%, 4/25/55 <sup>(b),(d)</sup> | 28119 | 26981 |
| Navient Private Education Refi Loan Trust 2023-A, 5.51%, 10/15/71 <sup>(b)</sup> | 219788 | 225416 |
| New Residential Mortgage Loan Trust 2019-RPL3, 2.75%, 7/25/59 <sup>(b),(d)</sup> | 29037 | 27822 |
| PRET 2025-RPL2 Trust, 4.00%, 8/25/64 <sup>(b)</sup> | 346320 | 335142 |
| RFR Trust 2025-SGRM, 5.56%, 3/11/41 <sup>(b),(d)</sup> | 567617 | 580203 |
| Texas Natural Gas Securitization Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 4/1/35 | 167707 | 172789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17%, 4/1/41 | 50000 | 50934 |
| Towd Point Mortgage Trust 2017-4, 2.75%, 6/25/57 <sup>(b),(d)</sup> | 22929 | 22465 |
| Towd Point Mortgage Trust 2018-1, 3.00%, 1/25/58 <sup>(b),(d)</sup> | 4849 | 4800 |
| Toyota Lease Owner Trust 2025-B, 3.96%, 11/20/28 <sup>(b)</sup> | 200000 | 199815 |
| Volkswagen Auto Lease Trust 2024-A, 5.21%, 6/21/27 | 190000 | 191690 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Asset Backed and Commercial Backed Securities (continued)** |  |  |
| Volkswagen Auto Lease Trust 2025-B, 4.01%, 1/22/29 | $260000 | $260147 |
| Wheels Fleet Lease Funding 1 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.46%, 8/18/38<sup>(b)</sup> | 124887 | 126657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.87%, 6/21/39<sup>(b)</sup> | 215466 | 217645 |
| **Total Asset Backed and Commercial Backed Securities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost - $6,969,445)** |  | **6789620** |
| **Municipal Bonds - 0.4%** |  |  |
| Golden State Tobacco Securitization Corp., 3.00%, 6/1/46 | 30000 | 26824 |
| Illinois Municipal Electric Agency, 6.83%, 2/1/35 | 80000 | 82620 |
| Metropolitan Transportation Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 11/15/26 | 5000 | 5050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.81%, 11/15/40 | 110000 | 122053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.18%, 11/15/49 | 5000 | 4614 |
| Philadelphia Authority for Industrial Development, 6.55%, 10/15/28 | 270000 | 286714 |
| State of Illinois, 5.10%, 6/1/33 | 536618 | 545892 |
| University of California, 1.61%, 5/15/30 | 20000 | 18096 |
| **Total Municipal Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost - $1,147,108)** |  | **1091863** |
| **Sovereign Debts - 0.4%** |  |  |
| Israel Government International Bond, 5.38%, 3/12/29 | 325000 | 333929 |
| Mexico Government International Bond, 6.75%, 9/27/34 | 277000 | 301791 |
| Saudi Government International Bond, 5.38%, 1/13/31 <sup>(b)</sup> | 375000 | 393909 |
| **Total Sovereign Debts** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost - $998,841)** |  | **1029629** |
| **Exchange Traded Funds - 0.2%** |  |  |
| **Equity Funds - 0.2%** |  |  |
| SPDR S&P 500 ETF Trust (Cost - $480,158) | 850 | 566253 |
| **Short-Term Investments - 3.5%** |  |  |
| **Money Market Funds - 3.5%** |  |  |
| Dreyfus Government Cash Management, 4.04%<sup>(e)</sup> | 7999717 | 7999717 |
| Fidelity Investments Money Market Fund - Government Portfolio, Institutional Class, 4.04%<sup>(e)</sup> | 1934771 | 1934771 |
| **Total Short-Term Investments<br> (Cost - $9,934,488)** |  | **9934488** |

---

Global Atlantic Wellington Research Managed Risk Portfolio

Portfolio of Investments (Unaudited) (Continued)

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | **Shares/<br> Principal** | **Fair Value** |
| **Total Investments - 101.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost - $209,843,508)** |  | **$283788305** |
| **Other Assets Less Liabilities - Net (1.4)%** |  | **(3846080)** |
| **Total Net Assets - 100.0%** |  | **$279942225** |

---

---

| | |
|:---|:---|
| \* | Non-income producing security. |
| † | Represents less than 0.05%. |
| (a) | When-issued, or delayed delivery. All or a portion may be subject to dollar-roll transactions. |
| (b) | 144A - Security was purchased pursuant to Rule 144a under the Securities Act of 1933 and may not be resold subject to that rule, except to qualified institutional buyers. As of September 30, 2025, these securities amounted to $13,357,991 or 4.8% of net assets. |
| (c) | Variable rate or fixed to variable rate security. The rate shown is the rate in effect at period end. |
| (d) | Adjustable rate security with an interest rate that is not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions. The coupon rate shown represents the rate at period end. |
| (e) | The rate shown is the annualized seven-day yield at period end. |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| CMT | Treasury Constant Maturity Rate |
| Libor | London Interbank Offer Rate |
| PLC | Public Limited Company |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **FORWARD SALES CONTRACTS** | **FORWARD SALES CONTRACTS** | **FORWARD SALES CONTRACTS** | **FORWARD SALES CONTRACTS** | **FORWARD SALES CONTRACTS** | **FORWARD SALES CONTRACTS** |
| At September 30, 2025, the Fund had the following forward sales contracts: | At September 30, 2025, the Fund had the following forward sales contracts: | At September 30, 2025, the Fund had the following forward sales contracts: | At September 30, 2025, the Fund had the following forward sales contracts: | At September 30, 2025, the Fund had the following forward sales contracts: | At September 30, 2025, the Fund had the following forward sales contracts: |
| **Description** | **Interest Rate** | **Maturity Date<sup>\*</sup>** | **Settlement Date** | **Principal Amount** | **Value** |
| Fannie Mae or Freddie Mac | 4.50% | TBA - 30Yr | 10/1/2040 | $(411000) | $(410550) |
| Fannie Mae or Freddie Mac | 6.00% | TBA - 30yr | 10/1/2054 | (282000) | (288081) |
| Fannie Mae or Freddie Mac | 2.00% | TBA - 30Yr | 10/1/2055 | (900000) | (725414) |
| Fannie Mae or Freddie Mac | 3.50% | TBA - 30yr | 10/1/2055 | (208000) | (190093) |
| Fannie Mae or Freddie Mac | 4.00% | TBA - 30yr | 10/1/2055 | (73000) | (68814) |
| Fannie Mae or Freddie Mac | 4.50% | TBA - 30Yr | 10/1/2055 | (272000) | (263925) |
| Fannie Mae or Freddie Mac | 4.00% | TBA - 30Yr | 11/1/2055 | (70000) | (65920) |
| Fannie Mae or Freddie Mac | 4.50% | TBA - 30Yr | 11/1/2055 | (265000) | (256884) |
| Fannie Mae or Freddie Mac | 5.00% | TBA - 30yr | 11/1/2055 | (850000) | (842828) |
| Ginnie Mae | 4.00% | TBA - 30yr | 10/20/2055 | (667000) | (627188) |
| (Proceeds Receivable: $(3751094)) | (Proceeds Receivable: $(3751094)) | (Proceeds Receivable: $(3751094)) | (Proceeds Receivable: $(3751094)) |  | $(3739697) |

---

\* TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date.The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Forethought Variable Insurance Trust

- **b. Investment Company Act file number:** 811-22865

- **c. CIK number of Registrant:** 0001580353

- **d. LEI of Registrant:** 5493006EQMR1BNKF6A36

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

  - **Street Address 1:** 10 West Market Street

  - **City:** Indianapolis

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46204

  - **Telephone number:** 877-355-1820

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

- **a. Name of Series:** Global Atlantic Wellington Research Managed Risk Portfolio

- **b. EDGAR series identifier (if any):** S000042090

- **c. LEI of Series:** 5493004GHH4SPWZG5B06

**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:** $286777544.42

**Total Liabilities:** $6746031.22

**Net Assets:** $280031513.20

**Delayed Delivery Securities:** $700919.71

**Stand-by Commitments:** $5555514.58

**Cash Not Reported:** $27025.13

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 26.37761000 | **1-Year:** 2601.94705000 | **5-Year:** 15576.90862000 | **10-Year:** 7926.01978000 | **30-Year:** 669.40019000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 171.12839000 | **10-Year:** 102.50191000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000130711 | 1.50%                | 1.41%                | 1.79%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2556441.22              | $1504028.37                                |
| Month 2  | $2364659.16              | $1189449.78                                |
| Month 3  | $2873680.78              | $1968586.36                                |

**Designated Index Information**

- **Index Name:** Global Atlantic Wellington Research Managed Risk Portfolio _Ex Derivatives BM

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    235000 | PA      | $238166.99    | 0.09%             | 2032-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XMDB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16130 | PA      | $15732.06     | 0.01%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140QG4T1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     62698 | PA      | $51484.90     | 0.02%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac REMICS                                                              | CUSIP: 3137AX6T5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    143641 | PA      | $136459.49    | 0.05%             | 2042-09-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust             | Angel Oak Mortgage Trust 2019-6                                                 | CUSIP: 03464VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4751 | PA      | $4678.16      | 0.00%             | 2059-11-25      | Variable      | 2.62%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                         | Alphabet Inc                                                                    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     41941 | NS      | $10195857.10  | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Akero Therapeutics Inc               | Akero Therapeutics Inc                                                          | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Long             | EC               | CORP              | US        |       728 | NS      | $34565.44     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    469100 | PA      | $451288.86    | 0.16%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SCE RECOVERY FUNDING LLC             | SCE Recovery Funding LLC                                                        | CUSIP: 78433LAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $38772.15     | 0.01%             | 2038-05-15      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XJ6L2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     23828 | PA      | $23440.69     | 0.01%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust              | Flagstar Mortgage Trust 2018-3                                                  | CUSIP: 33851JAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     54774 | PA      | $52036.82     | 0.02%             | 2048-05-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Casey's General Stores Inc           | Casey's General Stores Inc                                                      | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |       442 | NS      | $249871.44    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                      | Bio-Techne Corp                                                                 | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |      1508 | NS      | $83890.04     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAY OAK PIPELINE LLC                | Gray Oak Pipeline LLC                                                           | CUSIP: 38937LAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $143861.77    | 0.05%             | 2025-10-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2016-1 AA PTT             | United Airlines 2016-1 Class AA Pass Through Trust                              | CUSIP: 90931LAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     57787 | PA      | $55841.60     | 0.02%             | 2028-07-07      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DPZS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21708 | PA      | $21085.73     | 0.01%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                 | Glencore Funding LLC                                                            | CUSIP: 378272BS6<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    160000 | PA      | $164892.08    | 0.06%             | 2029-04-04      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CLJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     57800 | PA      | $57551.64     | 0.02%             | 2031-08-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                          | Oracle Corp                                                                     | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      3579 | NS      | $1006557.96   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                        | Coherent Corp                                                                   | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      4394 | NS      | $473321.68    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132AEUX2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7764 | PA      | $7656.73      | 0.00%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CLC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    463600 | PA      | $468851.72    | 0.17%             | 2029-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CFU0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    342700 | PA      | $346234.09    | 0.12%             | 2027-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179W5E4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    396256 | PA      | $377191.68    | 0.13%             | 2052-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                     | BAT Capital Corp                                                                | CUSIP: 054989AF5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113816.04    | 0.04%             | 2033-03-22      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                   | Energy Transfer LP                                                              | CUSIP: 29273VBF6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     81000 | PA      | $81380.37     | 0.03%             | 2055-04-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| SCE RECOVERY FUNDING LLC             | SCE Recovery Funding LLC                                                        | CUSIP: 78433LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     74763 | PA      | $66476.33     | 0.02%             | 2031-11-15      | Fixed         | 0.86%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31374CSR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    172289 | PA      | $152470.75    | 0.05%             | 2043-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    579000 | PA      | $585920.86    | 0.21%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Deckers Outdoor Corp                 | Deckers Outdoor Corp                                                            | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |      3135 | NS      | $317794.95    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WHISTLER PIPELINE LLC                | Whistler Pipeline LLC                                                           | CUSIP: 96337RAA0<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |    278000 | PA      | $285941.41    | 0.10%             | 2029-09-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XFU33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    659360 | PA      | $567831.25    | 0.20%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                     | Georgia Power Co                                                                | CUSIP: 373334JS1<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |     65000 | PA      | $61911.00     | 0.02%             | 2040-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Revolution Medicines Inc             | Revolution Medicines Inc                                                        | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |      2717 | NS      | $126883.90    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon PLC                           | Haleon PLC                                                                      | CUSIP: 405552100<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |     78783 | NS      | $706683.51    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc            | Palantir Technologies Inc                                                       | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      3096 | NS      | $564772.32    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132D6DJ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    115817 | PA      | $116017.39    | 0.04%             | 2038-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DMY41<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    112175 | PA      | $92116.68     | 0.03%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL              | Southern Co Gas Capital Corp                                                    | CUSIP: 8426EPAK4<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75205.70     | 0.03%             | 2035-09-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XA4Q2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    135902 | PA      | $117261.04    | 0.04%             | 2041-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp                                                            | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    171000 | PA      | $178727.97    | 0.06%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co                                                             | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    230000 | PA      | $232610.27    | 0.08%             | 2028-01-23      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| SPDR S&P 500 ETF Trust               | SPDR S&P 500 ETF Trust                                                          | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |       850 | NS      | $566253.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc              | Kymera Therapeutics Inc                                                         | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       875 | NS      | $49525.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GEORGIA POWER CO                     | Georgia Power Co                                                                | CUSIP: 373334KQ3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |    216000 | PA      | $218596.15    | 0.08%             | 2032-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    425700 | PA      | $429940.37    | 0.15%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    605500 | PA      | $609473.59    | 0.22%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Knight-Swift Transportation Ho       | Knight-Swift Transportation Holdings Inc                                        | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12766 | NS      | $504384.66    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Gold Pool                                                           | CUSIP: 31335AZ68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    429078 | PA      | $389300.38    | 0.14%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140QQJ63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     33902 | PA      | $33878.64     | 0.01%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Gold Pool                                                           | CUSIP: 3128P77L1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     20702 | PA      | $20776.99     | 0.01%             | 2034-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP               | Extra Space Storage LP                                                          | CUSIP: 30225VAU1<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    412000 | PA      | $420859.95    | 0.15%             | 2035-06-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Marriott International Inc/MD        | Marriott International Inc/MD                                                   | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      1994 | NS      | $519317.36    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DWHG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    392361 | PA      | $396859.51    | 0.14%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co                                                             | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    221000 | PA      | $228424.56    | 0.08%             | 2031-04-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae                                                                      | CUSIP: 21H0206A8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     70000 | PA      | $57914.07     | 0.02%             | 2055-10-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| KILROY REALTY LP                     | Kilroy Realty LP                                                                | CUSIP: 49427RAT9<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106367.09    | 0.04%             | 2035-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC              | CF Hippolyta Issuer LLC                                                         | CUSIP: 12530MAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    121951 | PA      | $101373.80    | 0.04%             | 2061-03-15      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3133AG7H6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    166480 | PA      | $135381.99    | 0.05%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                      | SBA Tower Trust                                                                 | CUSIP: 78403DAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $94268.98     | 0.03%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| PTC Therapeutics Inc                 | PTC Therapeutics Inc                                                            | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |       961 | NS      | $58976.57     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XJED1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12790 | PA      | $12474.26     | 0.00%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor       | Banc of America Commercial Mortgage Trust 2015-UBS7                             | CUSIP: 06054AAX7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9938 | PA      | $9917.99      | 0.00%             | 2048-09-15      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Gold Pool                                                           | CUSIP: 3132J65C4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     14257 | PA      | $13029.00     | 0.00%             | 2043-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP             | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $29608.99     | 0.01%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                   | RGA Global Funding                                                              | CUSIP: 76209PAH6<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |    270000 | PA      | $270315.91    | 0.10%             | 2028-08-25      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    516500 | PA      | $522391.33    | 0.19%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    942000 | PA      | $979091.25    | 0.35%             | 2035-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO             | Virginia Electric and Power Co                                                  | CUSIP: 927804GW8<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44814.90     | 0.02%             | 2055-09-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Tesla Inc                            | Tesla Inc                                                                       | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      6080 | NS      | $2703897.60   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XGK99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    533312 | PA      | $491521.06    | 0.18%             | 2051-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140LLUW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    362000 | PA      | $372453.87    | 0.13%             | 2030-10-01      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179WJS8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    544931 | PA      | $487542.39    | 0.17%             | 2051-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140QQCC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     36345 | PA      | $36570.89     | 0.01%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae REMICS                                                               | CUSIP: 3136B0AP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    234220 | PA      | $227752.53    | 0.08%             | 2054-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Williams-Sonoma Inc                  | Williams-Sonoma Inc                                                             | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      1426 | NS      | $278711.70    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                            | IDEX Corp                                                                       | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |      3179 | NS      | $517414.04    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                      | CVS Health Corp                                                                 | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      5302 | NS      | $399717.78    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Gold Pool                                                           | CUSIP: 31307EP65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1918 | PA      | $1893.24      | 0.00%             | 2028-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                    | Healthpeak OP LLC                                                               | CUSIP: 42250GAB9<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |    265000 | PA      | $263290.14    | 0.09%             | 2033-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| T-Mobile US Inc                      | T-Mobile US Inc                                                                 | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      6585 | NS      | $1576317.30   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL             | Equitable America Global Funding                                                | CUSIP: 29446Q2C6<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64898.62     | 0.02%             | 2027-09-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE               | Arizona Public Service Co                                                       | CUSIP: 040555DJ0<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |     90000 | PA      | $92156.15     | 0.03%             | 2055-08-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    441500 | PA      | $376016.58    | 0.13%             | 2042-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust       | CFMT 2021-AL1 LLC                                                               | CUSIP: 12529UAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30303 | PA      | $30135.93     | 0.01%             | 2031-09-22      | Fixed         | 1.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3138WEAT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6641 | PA      | $6471.80      | 0.00%             | 2030-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                        | Citigroup Inc                                                                   | CUSIP: 172967QH7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70672.73     | 0.03%             | 2036-09-11      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                   | Meta Platforms Inc                                                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      3221 | NS      | $2365437.98   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DWJM6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     66018 | PA      | $67591.28     | 0.02%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NetApp Inc                           | NetApp Inc                                                                      | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      3676 | NS      | $435458.96    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC SERVICE OKLAHOMA              | Public Service Co of Oklahoma                                                   | CUSIP: 744533BS8<br>LEI: F3TJNSIZRGXRH8GEIK79 | Long             | DBT              | CORP              | US        |    230000 | PA      | $234946.57    | 0.08%             | 2036-01-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179T7K5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9966 | PA      | $9561.83      | 0.00%             | 2048-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CDW Corp/DE                          | CDW Corp/DE                                                                     | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |      1710 | NS      | $272368.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| RFR Trust                            | RFR Trust 2025-SGRM                                                             | CUSIP: 74984NAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    567617 | PA      | $580202.89    | 0.21%             | 2041-03-11      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0506B7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |   -850000 | PA      | $-842828.13   | -0.30%            | 2055-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132ADVT2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    138223 | PA      | $132970.40    | 0.05%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0326A7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |   -208000 | PA      | $-190092.49   | -0.07%            | 2055-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     45000 | PA      | $37778.91     | 0.01%             | 2042-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Alnylam Pharmaceuticals Inc          | Alnylam Pharmaceuticals Inc                                                     | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |       286 | NS      | $130416.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| COLUMBIA PIPELINES OPCO              | Columbia Pipelines Operating Co LLC                                             | CUSIP: 19828TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    138000 | PA      | $147091.19    | 0.05%             | 2043-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Argenx SE                            | Argenx SE                                                                       | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |       273 | NS      | $201353.88    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION SOFTWARE               | Constellation Software Inc/Canada                                               | CUSIP: 21037XAD2<br>LEI: 549300B6PYHMCTDWQV29 | Long             | DBT              | CORP              | CA        |    183000 | PA      | $186918.91    | 0.07%             | 2034-02-16      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CLK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    580500 | PA      | $579230.16    | 0.21%             | 2029-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNY3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    240000 | PA      | $238406.25    | 0.09%             | 2028-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    504200 | PA      | $360719.65    | 0.13%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AAON Inc                             | AAON Inc                                                                        | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7131 | NS      | $666320.64    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co                                                             | CUSIP: 46647PCJ3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9490.17      | 0.00%             | 2029-06-01      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                   | RGA Global Funding                                                              | CUSIP: 76209PAJ2<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60374.91     | 0.02%             | 2032-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESCO International Inc              | WESCO International Inc                                                         | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      3534 | NS      | $747441.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| GLENCORE FUNDING LLC                 | Glencore Funding LLC                                                            | CUSIP: 378272BP2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    593000 | PA      | $640423.37    | 0.23%             | 2030-10-06      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| James Hardie Industries PLC          | James Hardie Industries PLC                                                     | CUSIP: 000000000<br>LEI: 635400NSGXKTVOO7JU45 | Long             | EC               | CORP              | IE        |     51255 | NS      | $984608.55    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co Inc               | Church & Dwight Co Inc                                                          | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |       983 | NS      | $86140.29     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    494500 | PA      | $497127.03    | 0.18%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Loar Holdings Inc                    | Loar Holdings Inc                                                               | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1286 | NS      | $102880.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    895800 | PA      | $897199.69    | 0.32%             | 2027-04-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XMW51<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15471 | PA      | $15113.38     | 0.01%             | 2051-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XJN58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17049 | PA      | $17131.23     | 0.01%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                 | Glencore Funding LLC                                                            | CUSIP: 378272CB2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     45000 | PA      | $47024.05     | 0.02%             | 2055-04-01      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140Q0HG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    431000 | PA      | $436753.68    | 0.16%             | 2030-08-01      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3133KL2U0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1682748 | PA      | $1374438.79   | 0.49%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Flutter Entertainment PLC            | Flutter Entertainment PLC                                                       | CUSIP: 000000000<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | US        |      1951 | NS      | $495554.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XHC62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6759 | PA      | $6546.42      | 0.00%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                     | Alabama Power Co                                                                | CUSIP: 010392GC6<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30666.28     | 0.01%             | 2035-04-02      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne       | PRET 2025-RPL2 Trust                                                            | CUSIP: 69392LAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    346320 | PA      | $335141.60    | 0.12%             | 2064-08-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Ascendis Pharma A/S                  | Ascendis Pharma A/S                                                             | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |       591 | NS      | $117496.71    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| StandardAero Inc                     | StandardAero Inc                                                                | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20833 | NS      | $568532.57    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XJ6M0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10624 | PA      | $10428.09     | 0.00%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust              | Flagstar Mortgage Trust 2021-9INV                                               | CUSIP: 33851MAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    118505 | PA      | $104491.93    | 0.04%             | 2041-09-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DQLJ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7800 | PA      | $7636.85      | 0.00%             | 2047-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                       | Amazon.com Inc                                                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     37217 | NS      | $8171736.69   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DPVV7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    183325 | PA      | $182110.02    | 0.07%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    478300 | PA      | $395120.64    | 0.14%             | 2053-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP             | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $51814.11     | 0.02%             | 2047-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc         | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1517 | NS      | $735775.34    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                           | Fluor Corp                                                                      | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |      5451 | NS      | $229323.57    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Structure Therapeutics Inc           | Structure Therapeutics Inc                                                      | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5188 | NS      | $145264.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc       | American Electric Power Co Inc                                                  | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      8139 | NS      | $915637.50    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                             | AT&T Inc                                                                        | CUSIP: 00206RND0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    220000 | PA      | $217600.99    | 0.08%             | 2045-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| PROV ST JOSEPH HLTH OBL              | Providence St Joseph Health Obligated Group                                     | CUSIP: 743820AC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $185039.07    | 0.07%             | 2033-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Lennar Corp                          | Lennar Corp                                                                     | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |       405 | NS      | $51046.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CAL EDISON                  | Southern California Edison Co                                                   | CUSIP: 842400FZ1<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    164000 | PA      | $139620.65    | 0.05%             | 2043-10-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                     | Wells Fargo & Co                                                                | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     49436 | NS      | $4143725.52   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SAUDI INTERNATIONAL BOND             | Saudi Government International Bond                                             | CUSIP: 80413TBK4<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    375000 | PA      | $393908.70    | 0.14%             | 2031-01-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                     | Crown Castle Inc                                                                | CUSIP: 22822VBA8<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    228000 | PA      | $231223.45    | 0.08%             | 2028-01-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0406A0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |    -73000 | PA      | $-68813.90    | -0.02%            | 2055-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO EDISON CO                       | Ohio Edison Co                                                                  | CUSIP: 677347CJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25550.54     | 0.01%             | 2029-12-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ServiceNow Inc                       | ServiceNow Inc                                                                  | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      1326 | NS      | $1220291.28   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179WBY3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    162751 | PA      | $140310.27    | 0.05%             | 2051-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    590800 | PA      | $600446.65    | 0.21%             | 2029-11-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140Q9HX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22696 | PA      | $22537.81     | 0.01%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange Inc        | Intercontinental Exchange Inc                                                   | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      8419 | NS      | $1418433.12   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    383300 | PA      | $369644.94    | 0.13%             | 2043-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD GRP/CO             | JBS USA Holding Lux Sarl / JBS USA Foods Group Holdings Inc / JBS USA Food Co   | CUSIP: 472140AJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103192.00    | 0.04%             | 2066-04-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179VZQ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    641911 | PA      | $532129.87    | 0.19%             | 2050-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DWH30<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    402053 | PA      | $412071.57    | 0.15%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                   | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2019-3                   | CUSIP: 35563PLH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     67708 | PA      | $65433.30     | 0.02%             | 2058-10-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FMC Corp                             | FMC Corp                                                                        | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |      7815 | NS      | $262818.45    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc             | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      6042 | NS      | $1217644.26   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3138X0Y36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22413 | PA      | $20749.29     | 0.01%             | 2043-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0426B4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |   -265000 | PA      | $-256884.38   | -0.09%            | 2055-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     40000 | PA      | $41114.06     | 0.01%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Waste Connections Inc                | Waste Connections Inc                                                           | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      2517 | NS      | $442488.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CLM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     62800 | PA      | $62076.33     | 0.02%             | 2031-09-30      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Unilever PLC                         | Unilever PLC                                                                    | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |     15109 | NS      | $895661.52    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XFMM0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    318702 | PA      | $273062.63    | 0.10%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                | Mexico Government International Bond                                            | CUSIP: 91086QAS7<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    277000 | PA      | $301791.50    | 0.11%             | 2034-09-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Nucor Corp                           | Nucor Corp                                                                      | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |      3427 | NS      | $464118.61    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                           | PACCAR Inc                                                                      | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      2055 | NS      | $202047.60    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co                                                             | CUSIP: 46647PDH6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    153000 | PA      | $156012.26    | 0.06%             | 2033-07-25      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CEE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     53000 | PA      | $50788.91     | 0.02%             | 2029-03-31      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179WVW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    646802 | PA      | $591309.46    | 0.21%             | 2052-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140Y62E9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    397370 | PA      | $407768.71    | 0.15%             | 2040-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II              | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $129966.76    | 0.05%             | 2033-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Government National Mortgage Association                                        | CUSIP: 38376RMG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     19056 | PA      | $19105.53     | 0.01%             | 2065-12-20      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                       | Morgan Stanley                                                                  | CUSIP: 61747YFU4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    212000 | PA      | $214369.43    | 0.08%             | 2030-10-18      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                | Athene Global Funding                                                           | CUSIP: 04685A4G3<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    355000 | PA      | $365992.04    | 0.13%             | 2030-01-07      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Snowflake Inc                        | Snowflake Inc                                                                   | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      3507 | NS      | $791003.85    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTENERGY PENN ELECTRI             | FirstEnergy Pennsylvania Electric Co                                            | CUSIP: 708696CA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10028.05     | 0.00%             | 2026-03-30      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PPG Industries Inc                   | PPG Industries Inc                                                              | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |      6071 | NS      | $638122.81    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PACIFIC GAS & ELECTRIC               | Pacific Gas and Electric Co                                                     | CUSIP: 694308HH3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     75000 | PA      | $64097.54     | 0.02%             | 2044-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                   | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2021-1                   | CUSIP: 35563PUZ0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    480857 | PA      | $398123.54    | 0.14%             | 2060-09-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CET4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    144000 | PA      | $141631.88    | 0.05%             | 2027-05-31      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| WEA FINANCE LLC                      | WEA Finance LLC                                                                 | CUSIP: 92928QAH1<br>LEI: 3CYEJKBUJZO3UW777J80 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29393.63     | 0.01%             | 2027-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| SCE RECOVERY FUNDING LLC             | SCE Recovery Funding LLC                                                        | CUSIP: 78433LAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $20705.71     | 0.01%             | 2043-11-15      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| NLG GLOBAL FUNDING                   | NLG Global Funding                                                              | CUSIP: 62915W2B8<br>LEI: 635400SKBQOWEJZLTW68 | Long             | DBT              | CORP              | US        |    160000 | PA      | $158424.37    | 0.06%             | 2030-09-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    555100 | PA      | $490829.83    | 0.18%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KITE REALTY GROUP LP                 | Kite Realty Group LP                                                            | CUSIP: 49803XAG8<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30574.88     | 0.01%             | 2032-08-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SAP SE                               | SAP SE                                                                          | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |      3811 | NS      | $1018337.31   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae - CAS                     | Connecticut Avenue Securities Trust 2021-R01                                    | CUSIP: 20754RAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     39955 | PA      | $40040.88     | 0.01%             | 2041-10-25      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| WHISTLER PIPELINE LLC                | Whistler Pipeline LLC                                                           | CUSIP: 96337RAB8<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |    139000 | PA      | $144555.48    | 0.05%             | 2031-09-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO             | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl                      | CUSIP: 46590XAY2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    346000 | PA      | $361401.84    | 0.13%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trus       | Durst Commercial Mortgage Trust 2025-151                                        | CUSIP: 266895AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $101825.34    | 0.04%             | 2042-08-10      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp                                                            | CUSIP: 06051GKW8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    229000 | PA      | $232337.03    | 0.08%             | 2028-07-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp                 | Targa Resources Corp                                                            | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      4939 | NS      | $827480.06    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| New Residential Mortgage Loan        | New Residential Mortgage Loan Trust 2019-RPL3                                   | CUSIP: 64830NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29037 | PA      | $27821.43     | 0.01%             | 2059-07-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| Metsera Inc                          | Metsera Inc                                                                     | CUSIP: 59267L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1052 | NS      | $55051.16     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp            | Scholar Rock Holding Corp                                                       | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |      1174 | NS      | $43719.76     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOPSYS INC                         | Synopsys Inc                                                                    | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    220000 | PA      | $224834.48    | 0.08%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3138WGHD9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    112160 | PA      | $107806.34    | 0.04%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA                               | Sempra                                                                          | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    251000 | PA      | $244952.58    | 0.09%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XDBQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    326830 | PA      | $292393.10    | 0.10%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER             | Enterprise Products Operating LLC                                               | CUSIP: 29379VCL5<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    165000 | PA      | $167741.69    | 0.06%             | 2036-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC       | Wheels Fleet Lease Funding 1 LLC                                                | CUSIP: 96328GBT3<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |    215466 | PA      | $217645.11    | 0.08%             | 2039-06-21      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    786200 | PA      | $788042.66    | 0.28%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Arista Networks Inc                  | Arista Networks Inc                                                             | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      6879 | NS      | $1002339.09   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179UCB6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     22314 | PA      | $21306.04     | 0.01%             | 2048-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Inc               | Berkshire Hathaway Inc                                                          | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      6544 | NS      | $3289930.56   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                          | PepsiCo Inc                                                                     | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      2712 | NS      | $380873.28    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS NATURAL GAS SECURITIZTN        | Texas Natural Gas Securitization Finance Corp                                   | CUSIP: 88258MAB1<br>LEI: N/A                  | Long             | ABS-O            | MUN               | US        |     50000 | PA      | $50934.30     | 0.02%             | 2041-04-01      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0526A5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    154000 | PA      | $155323.45    | 0.06%             | 2055-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Intuitive Surgical Inc               | Intuitive Surgical Inc                                                          | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      1369 | NS      | $612257.87    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The                | New York Times Co/The                                                           | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |      7690 | NS      | $441406.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA TOWER TRUST                      | SBA Tower Trust                                                                 | CUSIP: 78403DAT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $111629.71    | 0.04%             | 2026-11-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31418DVA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    285790 | PA      | $232585.55    | 0.08%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Ares Management Corp                 | Ares Management Corp                                                            | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |     20904 | NS      | $3342340.56   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                            | PG&E Corp                                                                       | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     68487 | NS      | $1032783.96   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200200 | PA      | $198604.66    | 0.07%             | 2044-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CJA0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     83100 | PA      | $85453.42     | 0.03%             | 2028-09-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CDK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    140000 | PA      | $136106.25    | 0.05%             | 2026-11-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Gold Pool                                                           | CUSIP: 3132M8RV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4267 | PA      | $4116.55      | 0.00%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos Inc                       | Lowe's Cos Inc                                                                  | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      6127 | NS      | $1539776.37   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS CO                  | American Express Co                                                             | CUSIP: 025816EH8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    145000 | PA      | $153176.34    | 0.05%             | 2036-04-25      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| Ingevity Corp                        | Ingevity Corp                                                                   | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |      1367 | NS      | $75444.73     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS NATURAL GAS SECURITIZTN        | Texas Natural Gas Securitization Finance Corp                                   | CUSIP: 88258MAA3<br>LEI: N/A                  | Long             | ABS-O            | MUN               | US        |    167707 | PA      | $172788.47    | 0.06%             | 2035-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400400 | PA      | $371355.36    | 0.13%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                | Wells Fargo & Co                                                                | CUSIP: 95000U3G6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    330000 | PA      | $349573.13    | 0.12%             | 2029-10-23      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Exact Sciences Corp                  | Exact Sciences Corp                                                             | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |       251 | NS      | $13732.21     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Gold Pool                                                           | CUSIP: 31307SPB3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18963 | PA      | $18318.70     | 0.01%             | 2031-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31418BZD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    125178 | PA      | $120319.40    | 0.04%             | 2046-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3142GQLF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    471284 | PA      | $487242.21    | 0.17%             | 2053-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Linde PLC                            | Linde PLC                                                                       | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |      2778 | NS      | $1319550.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO                            | Boeing Co/The                                                                   | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27966.90     | 0.01%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179UD90<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9672 | PA      | $9249.60      | 0.00%             | 2048-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Celsius Holdings Inc                 | Celsius Holdings Inc                                                            | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3758 | NS      | $216047.42    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                         | Danaher Corp                                                                    | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      2184 | NS      | $432999.84    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810RN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    545000 | PA      | $413795.51    | 0.15%             | 2045-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Chubb Ltd                            | Chubb Ltd                                                                       | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |      2838 | NS      | $801025.50    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                             | Flex Ltd                                                                        | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | US        |     11273 | NS      | $653495.81    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                         | Stryker Corp                                                                    | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |       120 | NS      | $44360.40     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179WZB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    337087 | PA      | $310431.79    | 0.11%             | 2052-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                     | FirstEnergy Corp                                                                | CUSIP: 337932AJ6<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     90000 | PA      | $79634.67     | 0.03%             | 2047-07-15      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    451000 | PA      | $453871.60    | 0.16%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO             | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl                      | CUSIP: 46590XAP1<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     55000 | PA      | $49217.15     | 0.02%             | 2032-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    340300 | PA      | $307333.44    | 0.11%             | 2053-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140Q0CR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    199000 | PA      | $200957.88    | 0.07%             | 2030-08-01      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| TOLEDO HOSPITAL/THE                  | Toledo Hospital/The                                                             | CUSIP: 889184AD9<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35038.42     | 0.01%             | 2038-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Mastercard Inc                       | Mastercard Inc                                                                  | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      5186 | NS      | $2949848.66   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UA4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    289200 | PA      | $283879.17    | 0.10%             | 2054-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Autodesk Inc                         | Autodesk Inc                                                                    | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      4173 | NS      | $1325636.91   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                          | Netflix Inc                                                                     | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      1319 | NS      | $1581375.48   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co                                                             | CUSIP: 46647PEX0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    145000 | PA      | $152875.10    | 0.05%             | 2036-04-22      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CJT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    363000 | PA      | $364389.61    | 0.13%             | 2027-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Shell PLC                            | Shell PLC                                                                       | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     21524 | NS      | $1539611.72   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| WW Grainger Inc                      | WW Grainger Inc                                                                 | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |       344 | NS      | $327818.24    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CKE0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | PA      | $604921.87    | 0.22%             | 2027-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Equitable Holdings Inc               | Equitable Holdings Inc                                                          | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |     14196 | NS      | $720872.88    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                   | Ingersoll Rand Inc                                                              | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |      2941 | NS      | $242985.42    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0426A6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |   -272000 | PA      | $-263925.00   | -0.09%            | 2055-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp                          | NVIDIA Corp                                                                     | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     84141 | NS      | $15699027.78  | 5.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132CXWT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    374105 | PA      | $384801.54    | 0.14%             | 2040-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Advanced Micro Devices Inc           | Advanced Micro Devices Inc                                                      | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     10480 | NS      | $1695559.20   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEL CORP                           | Intel Corp                                                                      | CUSIP: 458140CM0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    107000 | PA      | $102781.00    | 0.04%             | 2054-02-21      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Metlife Securitization Trust         | METLIFE SECURITIZATION TRUST                                                    | CUSIP: 59166BAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     28119 | PA      | $26981.12     | 0.01%             | 2055-04-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Horizon Aircraft Finance             | Horizon Aircraft Finance III Ltd                                                | CUSIP: 44040JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    136500 | PA      | $131437.29    | 0.05%             | 2039-11-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XFU58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    177056 | PA      | $145380.40    | 0.05%             | 2051-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| American International Group I       | American International Group Inc                                                | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      8020 | NS      | $629890.80    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                            | Pool Corp                                                                       | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |      2866 | NS      | $888660.62    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140FPWR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4753 | PA      | $4550.94      | 0.00%             | 2031-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Figma Inc                            | Figma Inc                                                                       | CUSIP: 316841105<br>LEI: 254900273Q0J4Z65HU28 | Long             | EC               | CORP              | US        |      6399 | NS      | $331916.13    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0526B3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    145000 | PA      | $146132.81    | 0.05%             | 2055-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK              | Morgan Stanley Private Bank NA                                                  | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253765.13    | 0.09%             | 2031-07-18      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                           | Intel Corp                                                                      | CUSIP: 458140BL3<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    172000 | PA      | $156312.47    | 0.06%             | 2040-03-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI       | Golden State Tobacco Securitization Corp                                        | CUSIP: 38122NB76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $26824.08     | 0.01%             | 2046-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd          | Royal Caribbean Cruises Ltd                                                     | CUSIP: 000000000<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | US        |      2034 | NS      | $658161.72    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CJF9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | PA      | $621515.63    | 0.22%             | 2028-10-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Boeing Co/The                        | Boeing Co/The                                                                   | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      3720 | NS      | $802887.60    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL               | Protective Life Global Funding                                                  | CUSIP: 74368CCB8<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |    255000 | PA      | $265460.22    | 0.09%             | 2032-01-14      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DNF73<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    570659 | PA      | $467632.62    | 0.17%             | 2052-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179QWF4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3884 | PA      | $3773.18      | 0.00%             | 2044-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                     | Duke Energy Corp                                                                | CUSIP: 26441CCJ2<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54642.18     | 0.02%             | 2035-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Wingstop Inc                         | Wingstop Inc                                                                    | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      1241 | NS      | $312334.88    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE GLOBAL FUNDING                | Athene Global Funding                                                           | CUSIP: 04685A3Q2<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    445000 | PA      | $459979.62    | 0.16%             | 2029-01-09      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CJP7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    895000 | PA      | $902132.03    | 0.32%             | 2026-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE        | Metropolitan Transportation Authority                                           | CUSIP: 59259YGF0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    110000 | PA      | $122052.94    | 0.04%             | 2040-11-15      | Fixed         | 6.81%                 | No            |                  2 | On Loan: No      |
| BellRing Brands Inc                  | BellRing Brands Inc                                                             | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |      9473 | NS      | $344343.55    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co            | Performance Food Group Co                                                       | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      4073 | NS      | $423754.92    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Partners of America Trust       | Home Partners of America 2021-2 Trust                                           | CUSIP: 43732VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    326229 | PA      | $317187.18    | 0.11%             | 2026-12-17      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                       | Merck & Co Inc                                                                  | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     16169 | NS      | $1357064.17   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0606A8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |   -282000 | PA      | $-288080.63   | -0.10%            | 2055-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Atmos Energy Corp                    | Atmos Energy Corp                                                               | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |      4793 | NS      | $818404.75    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEL FINANCE INTL NV                 | Enel Finance International NV                                                   | CUSIP: 29278GBF4<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $199531.45    | 0.07%             | 2028-09-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Align Technology Inc                 | Align Technology Inc                                                            | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |       817 | NS      | $102304.74    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp            | Edwards Lifesciences Corp                                                       | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      6270 | NS      | $487617.90    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0306A1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    346000 | PA      | $303885.30    | 0.11%             | 2055-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ICON PLC                             | ICON PLC                                                                        | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |       632 | NS      | $110600.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMMONS FINANCIAL GLOBAL             | Sammons Financial Group Global Funding                                          | CUSIP: 79587J2C6<br>LEI: 635400IPRNPM6HDHRS48 | Long             | DBT              | CORP              | US        |    345000 | PA      | $350107.59    | 0.13%             | 2030-06-12      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc                  | Elevance Health Inc                                                             | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       881 | NS      | $284668.72    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0504A1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1244000 | PA      | $1257217.50   | 0.45%             | 2040-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US Foods Holding Corp                | US Foods Holding Corp                                                           | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |     13955 | NS      | $1069232.10   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                          | Vistra Corp                                                                     | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      3831 | NS      | $750569.52    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Newamsterdam Pharma Co NV            | Newamsterdam Pharma Co NV                                                       | CUSIP: 000000000<br>LEI: 984500B6549TF6E14D36 | Long             | EC               | CORP              | NL        |      6700 | NS      | $190548.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132E0N32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     26033 | PA      | $25246.94     | 0.01%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140Q0ED0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    686953 | PA      | $690075.06    | 0.25%             | 2030-09-01      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| OMNIS FUNDING TRUST                  | Omnis Funding Trust                                                             | CUSIP: 68218WAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    166000 | PA      | $179087.45    | 0.06%             | 2055-05-15      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae                                                                      | CUSIP: 21H0526A1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    630000 | PA      | $634626.59    | 0.23%             | 2055-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MARS INC                             | Mars Inc                                                                        | CUSIP: 571676BB0<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65919.24     | 0.02%             | 2045-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3133KPUH9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    398152 | PA      | $386496.70    | 0.14%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PRICOA GLOBAL FUNDING 1              | Pricoa Global Funding I                                                         | CUSIP: 74153WCX5<br>LEI: 635400IBXEBMD9ADYA79 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155482.38    | 0.06%             | 2035-05-28      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3138WPJG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2430 | PA      | $2399.60      | 0.00%             | 2028-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0226A8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    165000 | PA      | $138986.73    | 0.05%             | 2055-10-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Vertex Pharmaceuticals Inc           | Vertex Pharmaceuticals Inc                                                      | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      1432 | NS      | $560828.48    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CLN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    479800 | PA      | $476501.38    | 0.17%             | 2029-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    409300 | PA      | $411954.06    | 0.15%             | 2028-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP               | Extra Space Storage LP                                                          | CUSIP: 30225VAV9<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45272.46     | 0.02%             | 2033-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     10000 | PA      | $10116.80     | 0.00%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC       | Enterprise Fleet Financing 2023-3 LLC                                           | CUSIP: 29374LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    194369 | PA      | $197281.23    | 0.07%             | 2030-03-20      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co/The                   | Walt Disney Co/The                                                              | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      9913 | NS      | $1135038.50   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae REMICS                                                               | CUSIP: 3136ANUU9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     31194 | PA      | $30589.79     | 0.01%             | 2044-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD GRP/CO             | JBS USA Holding Lux Sarl / JBS USA Foods Group Holdings Inc / JBS USA Food Co   | CUSIP: 472140AG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $128173.75    | 0.05%             | 2056-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    589700 | PA      | $486594.64    | 0.17%             | 2053-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                 | Glencore Funding LLC                                                            | CUSIP: 378272BV9<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     54000 | PA      | $54488.04     | 0.02%             | 2054-04-04      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140NYEL1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    381000 | PA      | $386462.40    | 0.14%             | 2030-05-01      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| Monster Beverage Corp                | Monster Beverage Corp                                                           | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      2989 | NS      | $201189.59    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A       | Government National Mortgage Association                                        | CUSIP: 38376RMB9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        10 | PA      | $10.04        | 0.00%             | 2065-10-20      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| EQT Corp                             | EQT Corp                                                                        | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      9472 | NS      | $515560.96    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CKZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    160300 | PA      | $162335.06    | 0.06%             | 2027-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0206A2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |   -900000 | PA      | $-725414.04   | -0.26%            | 2055-10-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CGC9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     10000 | PA      | $10056.64     | 0.00%             | 2027-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CFT3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     86100 | PA      | $87095.53     | 0.03%             | 2029-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                  | JPMorgan Chase & Co                                                             | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    170000 | PA      | $175615.56    | 0.06%             | 2031-01-24      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| KeyCorp                              | KeyCorp                                                                         | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |     49990 | NS      | $934313.10    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadst Stlg Rch DUS 4.2000 10-01-30 | Broadst Stlg Rch DUS 4.2000 10-01-30                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $259918.75    | 0.09%             | 2030-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132D9HB3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    219130 | PA      | $189085.67    | 0.07%             | 2041-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corp               | Boston Scientific Corp                                                          | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      3774 | NS      | $368455.62    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                              | KBR Inc                                                                         | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |      8735 | NS      | $413078.15    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp                                                            | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    420000 | PA      | $433562.06    | 0.15%             | 2031-01-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31418EMT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    174883 | PA      | $177425.56    | 0.06%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| First Solar Inc                      | First Solar Inc                                                                 | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      1424 | NS      | $314034.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                | NXP Semiconductors NV                                                           | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |      2488 | NS      | $566592.24    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Merus NV                             | Merus NV                                                                        | CUSIP: 000000000<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               | CORP              | NL        |      1597 | NS      | $150357.55    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XD7G5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    123320 | PA      | $105262.26    | 0.04%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corp                    | Hyatt Hotels Corp                                                               | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |      8214 | NS      | $1165813.02   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                        | Kroger Co/The                                                                   | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      5164 | NS      | $348105.24    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                        | Medtronic PLC                                                                   | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      4222 | NS      | $402103.28    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Kubota Credit Owner Trust            | Kubota Credit Owner Trust 2023-2                                                | CUSIP: 500945AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    228438 | PA      | $230291.48    | 0.08%             | 2028-01-18      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| GRAY OAK PIPELINE LLC                | Gray Oak Pipeline LLC                                                           | CUSIP: 38937LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24648.95     | 0.01%             | 2027-10-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DWA52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    120460 | PA      | $97966.27     | 0.03%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Acadia Healthcare Co Inc             | Acadia Healthcare Co Inc                                                        | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |      6271 | NS      | $155269.96    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810SX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    251500 | PA      | $161736.11    | 0.06%             | 2051-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179WLP1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    624473 | PA      | $537919.26    | 0.19%             | 2051-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Hamilton Insurance Group Ltd         | Hamilton Insurance Group Ltd                                                    | CUSIP: 000000000<br>LEI: 549300W92BN1FIEXG871 | Long             | EC               | CORP              | BM        |     11738 | NS      | $291102.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CKG5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    308200 | PA      | $312943.39    | 0.11%             | 2029-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Celanese Corp                        | Celanese Corp                                                                   | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Long             | EC               | CORP              | US        |      4679 | NS      | $196892.32    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Disc Medicine Inc                    | Disc Medicine Inc                                                               | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       664 | NS      | $43877.12     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    514800 | PA      | $515242.41    | 0.18%             | 2053-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3133KPUU0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    189619 | PA      | $190799.28    | 0.07%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ISRAEL                      | Israel Government International Bond                                            | CUSIP: 46514BRN9<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |    325000 | PA      | $333929.23    | 0.12%             | 2029-03-12      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Packaging Corp of America            | Packaging Corp of America                                                       | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |      1445 | NS      | $314908.85    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                         | Synopsys Inc                                                                    | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      3188 | NS      | $1572927.32   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The          | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      4240 | NS      | $3376524.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                       | Eli Lilly & Co                                                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      3637 | NS      | $2775031.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179W2X5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    138057 | PA      | $131420.30    | 0.05%             | 2052-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140FKQU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    434367 | PA      | $396680.86    | 0.14%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    433100 | PA      | $434673.37    | 0.16%             | 2027-05-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CJW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    680600 | PA      | $688123.82    | 0.25%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                  | American Express Co                                                             | CUSIP: 025816EK1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    220000 | PA      | $223847.25    | 0.08%             | 2033-07-20      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CEF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    117000 | PA      | $115034.77    | 0.04%             | 2027-03-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CJR3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1283500 | PA      | $1287861.90   | 0.46%             | 2028-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500100 | PA      | $518931.89    | 0.19%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                    | HSBC Holdings PLC                                                               | CUSIP: 404280FB0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $204100.60    | 0.07%             | 2036-09-10      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                  | Southern California Edison Co                                                   | CUSIP: 842400GG2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    177000 | PA      | $133736.53    | 0.05%             | 2047-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Agilent Technologies Inc             | Agilent Technologies Inc                                                        | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |      2914 | NS      | $374011.90    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp              | Marathon Petroleum Corp                                                         | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      3858 | NS      | $743590.92    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL             | Equitable America Global Funding                                                | CUSIP: 29446Q2E2<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34822.22     | 0.01%             | 2032-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31418DW73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     54134 | PA      | $48939.46     | 0.02%             | 2041-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CJN2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    259300 | PA      | $264951.93    | 0.09%             | 2028-11-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31418DUG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    269658 | PA      | $218200.50    | 0.08%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC               | Pacific Gas and Electric Co                                                     | CUSIP: 694308JN8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    259859 | PA      | $223678.05    | 0.08%             | 2050-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140QPXT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21279 | PA      | $20814.56     | 0.01%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                | Wells Fargo & Co                                                                | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    225000 | PA      | $232830.62    | 0.08%             | 2031-01-24      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| Soleno Therapeutics Inc              | Soleno Therapeutics Inc                                                         | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |       776 | NS      | $52457.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Navient Student Loan Trust           | Navient Private Education Refi Loan Trust 2023-A                                | CUSIP: 638961AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    219788 | PA      | $225415.89    | 0.08%             | 2071-10-15      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XJ3A9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    123765 | PA      | $123838.59    | 0.04%             | 2038-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Government National Mortgage Association                                        | CUSIP: 38383DY69<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    361106 | PA      | $326287.69    | 0.12%             | 2049-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC             | Liberty Mutual Group Inc                                                        | CUSIP: 53079EBG8<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    147000 | PA      | $147992.96    | 0.05%             | 2029-02-01      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179WQA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    258313 | PA      | $222506.07    | 0.08%             | 2051-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust            | Towd Point Mortgage Trust 2017-4                                                | CUSIP: 89173UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     22929 | PA      | $22465.29     | 0.01%             | 2057-06-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1344300 | PA      | $1356692.77   | 0.48%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                         | Broadcom Inc                                                                    | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     16286 | NS      | $5372914.26   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Volkswagen Auto Lease Trust          | Volkswagen Auto Lease Trust 2024-A                                              | CUSIP: 92866EAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    190000 | PA      | $191689.65    | 0.07%             | 2027-06-21      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST MUNI ELEC AGY PWR        | Illinois Municipal Electric Agency                                              | CUSIP: 452024GT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $82619.75     | 0.03%             | 2035-02-01      | Fixed         | 6.83%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                     | Alabama Power Co                                                                | CUSIP: 010392FU7<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26298.05     | 0.01%             | 2030-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| HeartFlow Inc                        | HeartFlow Inc                                                                   | CUSIP: 42238D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1200 | NS      | $40392.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Gold Pool                                                           | CUSIP: 3128MJTL4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7186 | PA      | $6736.05      | 0.00%             | 2043-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                  | Synchrony Financial                                                             | CUSIP: 87165BAX1<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50432.22     | 0.02%             | 2029-07-29      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    762700 | PA      | $704782.47    | 0.25%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Volkswagen Auto Lease Trust          | Volkswagen Auto Lease Trust 2025-B                                              | CUSIP: 92868BAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    260000 | PA      | $260147.11    | 0.09%             | 2029-01-22      | Fixed         | 4.01%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    183500 | PA      | $184646.88    | 0.07%             | 2030-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust            | Towd Point Mortgage Trust 2018-1                                                | CUSIP: 89176EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4849 | PA      | $4800.38      | 0.00%             | 2058-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1073300 | PA      | $1068101.20   | 0.38%             | 2030-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    297400 | PA      | $290708.50    | 0.10%             | 2044-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co/The        | Goodyear Tire & Rubber Co/The                                                   | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |     25410 | NS      | $190066.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC         | British American Tobacco PLC                                                    | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |      3077 | NS      | $163327.16    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                           | Natera Inc                                                                      | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       110 | NS      | $17706.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CGT2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    367000 | PA      | $367157.70    | 0.13%             | 2028-03-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                        | Citigroup Inc                                                                   | CUSIP: 172967QF1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105066.56    | 0.04%             | 2031-09-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XH4D6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     36723 | PA      | $36721.38     | 0.01%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL        | Philadelphia Authority for Industrial Development                               | CUSIP: 71781LBH1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    270000 | PA      | $286713.92    | 0.10%             | 2028-10-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| CH Robinson Worldwide Inc            | CH Robinson Worldwide Inc                                                       | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |      7385 | NS      | $977774.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    151665 | PA      | $153450.08    | 0.05%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    675000 | PA      | $680484.38    | 0.24%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                | Wells Fargo & Co                                                                | CUSIP: 95000U3L5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    224000 | PA      | $229175.27    | 0.08%             | 2028-04-22      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE               | Arizona Public Service Co                                                       | CUSIP: 040555CU6<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |     75000 | PA      | $57918.75     | 0.02%             | 2046-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CDL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    195000 | PA      | $182629.69    | 0.07%             | 2028-11-30      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                          | State of Illinois                                                               | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    536618 | PA      | $545892.60    | 0.19%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Labcorp Holdings Inc                 | Labcorp Holdings Inc                                                            | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1346 | NS      | $386382.76    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    246400 | PA      | $247449.12    | 0.09%             | 2027-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P       | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137HHJF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    125000 | PA      | $128105.55    | 0.05%             | 2031-10-25      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| MKS Inc                              | MKS Inc                                                                         | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      2692 | NS      | $333188.84    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CGP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    507500 | PA      | $512059.57    | 0.18%             | 2028-02-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0424A8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |   -411000 | PA      | $-410550.45   | -0.15%            | 2040-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Government National Mortgage Association                                        | CUSIP: 38376RFL5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17601 | PA      | $17572.92     | 0.01%             | 2065-08-20      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO             | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl                      | CUSIP: 47214BAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    443000 | PA      | $490457.70    | 0.18%             | 2034-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810RY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    320000 | PA      | $231762.50    | 0.08%             | 2047-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae REMICS                                                               | CUSIP: 3136AL3J8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    131102 | PA      | $120828.12    | 0.04%             | 2045-01-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Castlelake Aircraft Securitiza       | Castlelake Aircraft Structured Trust 2019-1                                     | CUSIP: 14855MAA6<br>LEI: 549300MHTIBONNXM3R82 | Long             | ABS-O            | CORP              | US        |     75362 | PA      | $72812.32     | 0.03%             | 2039-04-15      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUNDING                   | F&G Global Funding                                                              | CUSIP: 30321L2K7<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45175.71     | 0.02%             | 2028-09-08      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac REMICS                                                              | CUSIP: 3137FGMK8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    119486 | PA      | $111110.51    | 0.04%             | 2048-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CLG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    397200 | PA      | $398084.39    | 0.14%             | 2027-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| elf Beauty Inc                       | elf Beauty Inc                                                                  | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |      1130 | NS      | $149702.40    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp             | United Therapeutics Corp                                                        | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |       745 | NS      | $312311.45    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    336600 | PA      | $330551.72    | 0.12%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                  | Synchrony Financial                                                             | CUSIP: 87165BAY9<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35803.02     | 0.01%             | 2036-07-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                      | AstraZeneca PLC                                                                 | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      6912 | NS      | $530288.64    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CKN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    214600 | PA      | $223418.72    | 0.08%             | 2031-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CLR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    688800 | PA      | $699939.19    | 0.25%             | 2029-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Aurora Apartmnts DUS4.2500 09-01-30  | Aurora Apartmnts DUS4.2500 09-01-30                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $440515.63    | 0.16%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DWE74<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    530512 | PA      | $528145.76    | 0.19%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEA FINANCE LLC                      | WEA Finance LLC                                                                 | CUSIP: 92928QAF5<br>LEI: 3CYEJKBUJZO3UW777J80 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67552.52     | 0.02%             | 2029-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    672000 | PA      | $608317.50    | 0.22%             | 2043-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Cencora Inc                          | Cencora Inc                                                                     | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      1770 | NS      | $553178.10    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CDQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1164000 | PA      | $1129489.22   | 0.40%             | 2026-12-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BRIGHTHSE FIN GLBL FUND              | Brighthouse Financial Global Funding                                            | CUSIP: 10921U2L1<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |    393000 | PA      | $403399.17    | 0.14%             | 2029-06-10      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140QST43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     48045 | PA      | $48641.96     | 0.02%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140Q0CU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    177000 | PA      | $178741.43    | 0.06%             | 2030-08-01      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                | Time Warner Cable LLC                                                           | CUSIP: 88732JAY4<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |     31000 | PA      | $29628.78     | 0.01%             | 2040-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC              | CF Hippolyta Issuer LLC                                                         | CUSIP: 12530MAL9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     97261 | PA      | $93839.61     | 0.03%             | 2062-08-15      | Fixed         | 5.97%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P       | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137FHQ63<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    150000 | PA      | $148182.12    | 0.05%             | 2033-05-25      | Variable      | 3.99%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST               | Commonwealth Bank of Australia                                                  | CUSIP: 20271AAL1<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |    500000 | PA      | $516066.19    | 0.18%             | 2028-09-14      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XAXV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    157097 | PA      | $129008.81    | 0.05%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                        | Boeing Co/The                                                                   | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    252000 | PA      | $286988.77    | 0.10%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                   | NextEra Energy Inc                                                              | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      5268 | NS      | $397681.32    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CLX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    581000 | PA      | $587014.26    | 0.21%             | 2027-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    166400 | PA      | $172204.50    | 0.06%             | 2031-12-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC             | Greensaif Pipelines Bidco Sarl                                                  | CUSIP: 39541EAE3<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $315504.78    | 0.11%             | 2042-08-23      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140J9M81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10095 | PA      | $10002.44     | 0.00%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CJQ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    521000 | PA      | $520572.62    | 0.19%             | 2030-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Champion Homes Inc                   | Champion Homes Inc                                                              | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4743 | NS      | $362222.91    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                         | Freshpet Inc                                                                    | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |      4472 | NS      | $246451.92    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3133KMFR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    596914 | PA      | $511642.01    | 0.18%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Ferguson Enterprises Inc             | Ferguson Enterprises Inc                                                        | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |      1150 | NS      | $258267.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MARS INC                             | Mars Inc                                                                        | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    196000 | PA      | $198561.79    | 0.07%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNW7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    521900 | PA      | $520513.70    | 0.19%             | 2032-08-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31418EE63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    212064 | PA      | $206523.09    | 0.07%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    367700 | PA      | $369926.31    | 0.13%             | 2027-02-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AT&T INC                             | AT&T Inc                                                                        | CUSIP: 00206RNB4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    215000 | PA      | $214049.84    | 0.08%             | 2032-11-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL               | Anglo American Capital PLC                                                      | CUSIP: 034863AX8<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    437000 | PA      | $401163.02    | 0.14%             | 2030-09-10      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Everest Group Ltd                    | Everest Group Ltd                                                               | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      1295 | NS      | $453547.85    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp                | Northrop Grumman Corp                                                           | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      1190 | NS      | $725090.80    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK INC                            | ONEOK Inc                                                                       | CUSIP: 682680CM3<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    226000 | PA      | $230934.31    | 0.08%             | 2028-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae                                                                      | CUSIP: 21H0306A7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    123000 | PA      | $109873.59    | 0.04%             | 2055-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                 | Bank of America Corp                                                            | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     76000 | PA      | $77674.59     | 0.03%             | 2033-07-22      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Welltower Inc                        | Welltower Inc                                                                   | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |      8641 | NS      | $1539307.74   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheels Fleet Lease Funding LLC       | Wheels Fleet Lease Funding 1 LLC                                                | CUSIP: 96328GBG1<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |    124887 | PA      | $126656.69    | 0.05%             | 2038-08-18      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140QQBW4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    114276 | PA      | $111995.39    | 0.04%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    292300 | PA      | $292870.90    | 0.10%             | 2027-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1275300 | PA      | $1279185.69   | 0.46%             | 2027-03-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                          | Walmart Inc                                                                     | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     19669 | NS      | $2027087.14   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     69500 | PA      | $70080.98     | 0.03%             | 2027-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3133KQWQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     47262 | PA      | $47852.88     | 0.02%             | 2053-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140Q0Q70<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    435000 | PA      | $440667.83    | 0.16%             | 2030-09-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    104400 | PA      | $104905.69    | 0.04%             | 2032-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc        | Ultragenyx Pharmaceutical Inc                                                   | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |      1138 | NS      | $34231.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANS-ALLEGHENY INTERSTA             | Trans-Allegheny Interstate Line Co                                              | CUSIP: 893045AF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $30773.39     | 0.01%             | 2031-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL               | Protective Life Global Funding                                                  | CUSIP: 74368CCC6<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152598.23    | 0.05%             | 2030-06-05      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CKD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     13200 | PA      | $13453.69     | 0.00%             | 2029-02-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DSLT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76529 | PA      | $77454.82     | 0.03%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132E0K27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     46473 | PA      | $47152.92     | 0.02%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DWH22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    152527 | PA      | $154276.08    | 0.06%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                     | Exxon Mobil Corp                                                                | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     25494 | NS      | $2874448.50   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE        | Metropolitan Transportation Authority                                           | CUSIP: 59261A2P1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |      5000 | PA      | $4614.15      | 0.00%             | 2049-11-15      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2018-1 B PTT              | United Airlines 2018-1 Class B Pass Through Trust                               | CUSIP: 90932NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12134 | PA      | $12062.94     | 0.00%             | 2026-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1960100 | PA      | $1960329.70   | 0.70%             | 2027-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3138WAES2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8087 | PA      | $7835.24      | 0.00%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cooper Cos Inc/The                   | Cooper Cos Inc/The                                                              | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      3605 | NS      | $247158.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31418AYP7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1596 | PA      | $1574.20      | 0.00%             | 2028-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac            | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0406B8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |    -70000 | PA      | $-65920.32    | -0.02%            | 2055-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE        | Metropolitan Transportation Authority                                           | CUSIP: 59259YDK2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5050.20      | 0.00%             | 2026-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| GSK PLC                              | GSK PLC                                                                         | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |     13253 | NS      | $571999.48    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BPCE SA                              | BPCE SA                                                                         | CUSIP: 05571AAZ8<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    270000 | PA      | $282060.83    | 0.10%             | 2031-01-14      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                 | Saudi Arabian Oil Co                                                            | CUSIP: 80414L3F0<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    200000 | PA      | $212704.66    | 0.08%             | 2055-06-02      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac REMICS                                                              | CUSIP: 3137AJUU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    160597 | PA      | $156510.49    | 0.06%             | 2041-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae REMICS                                                               | CUSIP: 3136AXBX2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    156941 | PA      | $147956.48    | 0.05%             | 2045-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HCA Healthcare Inc                   | HCA Healthcare Inc                                                              | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       999 | NS      | $425773.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CKT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    586000 | PA      | $602572.81    | 0.22%             | 2029-05-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac REMICS                                                              | CUSIP: 3137BVUA2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    166851 | PA      | $161171.68    | 0.06%             | 2045-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810RS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    730000 | PA      | $512796.49    | 0.18%             | 2046-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Apple Inc                            | Apple Inc                                                                       | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     44985 | NS      | $11454530.55  | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CGB1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    196300 | PA      | $197603.55    | 0.07%             | 2029-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                       | Microsoft Corp                                                                  | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     24351 | NS      | $12612600.45  | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| VIRGINIA ELEC & POWER CO             | Virginia Electric and Power Co                                                  | CUSIP: 927804GV0<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49730.33     | 0.02%             | 2035-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| O'Reilly Automotive Inc              | O'Reilly Automotive Inc                                                         | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      3786 | NS      | $408168.66    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    161600 | PA      | $162123.94    | 0.06%             | 2028-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31418D2V3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    255149 | PA      | $221103.00    | 0.08%             | 2041-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP             | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25238.64     | 0.01%             | 2035-12-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                  | Abbott Laboratories                                                             | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      4659 | NS      | $624026.46    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DQAM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     16124 | PA      | $15920.57     | 0.01%             | 2049-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RTX Corp                             | RTX Corp                                                                        | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      1516 | NS      | $253672.28    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MEMORIAL SLOAN-KETTERING             | Memorial Sloan-Kettering Cancer Center                                          | CUSIP: 586054AD0<br>LEI: 549300IZ71UAMEHWL382 | Long             | DBT              | CORP              | US        |     20000 | PA      | $13269.07     | 0.00%             | 2050-01-01      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| JBS USA SARL/FOOD/GRP                | JBS USA LUX Sarl / JBS USA Food Co / JBS USA Foods Group                        | CUSIP: 472140AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $47360.25     | 0.02%             | 2035-04-20      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Gold Pool                                                           | CUSIP: 31307EQ56<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       879 | PA      | $866.61       | 0.00%             | 2028-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO                            | Boeing Co/The                                                                   | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102058.20    | 0.04%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                           | AbbVie Inc                                                                      | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      3307 | NS      | $765702.78    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CAL EDISON                  | Southern California Edison Co                                                   | CUSIP: 842400JK0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10087.14     | 0.00%             | 2055-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO             | Columbia Pipelines Holding Co LLC                                               | CUSIP: 19828AAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     32000 | PA      | $32977.21     | 0.01%             | 2034-01-15      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Camden Property Trust                | Camden Property Trust                                                           | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |      4456 | NS      | $475811.68    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179NJA7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     11925 | PA      | $11198.66     | 0.00%             | 2043-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Burlington Stores Inc                | Burlington Stores Inc                                                           | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |      2266 | NS      | $576697.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A       | Government National Mortgage Association                                        | CUSIP: 38376RBH8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13499 | PA      | $13455.42     | 0.00%             | 2065-05-20      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Monopar Therapeutics Inc             | Monopar Therapeutics Inc                                                        | CUSIP: 61023L207<br>LEI: 549300QJFAI7L6YHKG83 | Long             | EC               | CORP              | US        |       560 | NS      | $45735.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management   | Dreyfus Government Cash Management                                              | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |   7999717 | NS      | $7999716.94   | 2.86%             |  |  |  | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUNDING                   | F&G Global Funding                                                              | CUSIP: 30321L2G6<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |     49000 | PA      | $50270.09     | 0.02%             | 2027-06-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                  | JPMorgan Chase & Co                                                             | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1397 | NS      | $440655.71    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In       | Philip Morris International Inc                                                 | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      3931 | NS      | $637608.20    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     66100 | PA      | $67514.95     | 0.02%             | 2045-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3138YTVU5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22218 | PA      | $21638.65     | 0.01%             | 2030-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CGH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    325200 | PA      | $324387.00    | 0.12%             | 2028-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Avidity Biosciences Inc              | Avidity Biosciences Inc                                                         | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3185 | NS      | $138770.45    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIV OF CALIFORNIA CA REVENUES       | University of California                                                        | CUSIP: 91412HGG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $18095.65     | 0.01%             | 2030-05-15      | Fixed         | 1.61%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                | Foundry JV Holdco LLC                                                           | CUSIP: 350930AG8<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210928.83    | 0.08%             | 2033-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    337700 | PA      | $334296.62    | 0.12%             | 2044-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CNF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    277300 | PA      | $280863.74    | 0.10%             | 2032-05-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Vertiv Holdings Co                   | Vertiv Holdings Co                                                              | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      3036 | NS      | $458010.96    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc            | L3Harris Technologies Inc                                                       | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |       617 | NS      | $188437.97    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CFC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    125000 | PA      | $120327.15    | 0.04%             | 2029-07-31      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CKU4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    110500 | PA      | $115040.86    | 0.04%             | 2031-05-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                    | Johnson & Johnson                                                               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      3935 | NS      | $729627.70    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| 10X Genomics Inc                     | 10X Genomics Inc                                                                | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |      2710 | NS      | $31679.90     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    735200 | PA      | $739249.34    | 0.26%             | 2027-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179MVR8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     11214 | PA      | $10382.15     | 0.00%             | 2042-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P       | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137H73P6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    280000 | PA      | $252011.17    | 0.09%             | 2032-03-25      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                   | Athene Holding Ltd                                                              | CUSIP: 04686JAL5<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53472.09     | 0.02%             | 2055-05-19      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY PENN ELECTRI             | FirstEnergy Pennsylvania Electric Co                                            | CUSIP: 591894CE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15340.55     | 0.01%             | 2028-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Modine Manufacturing Co              | Modine Manufacturing Co                                                         | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      2567 | NS      | $364924.72    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140QKVB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    492402 | PA      | $419019.21    | 0.15%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                        | Citigroup Inc                                                                   | CUSIP: 172967QA2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    195000 | PA      | $198654.01    | 0.07%             | 2031-05-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| LivaNova PLC                         | LivaNova PLC                                                                    | CUSIP: 000000000<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | GB        |      1525 | NS      | $79879.50     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140FKEU0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     44259 | PA      | $43062.56     | 0.02%             | 2031-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140QS4T5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    842852 | PA      | $864111.56    | 0.31%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     28500 | PA      | $26287.91     | 0.01%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                     | Duke Energy Corp                                                                | CUSIP: 26441CCK9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69700.03     | 0.02%             | 2055-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Vita Coco Co Inc/The                 | Vita Coco Co Inc/The                                                            | CUSIP: 92846Q107<br>LEI: 54930020WXOAWHR85Y25 | Long             | EC               | CORP              | US        |      3500 | NS      | $148645.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                     | Coca-Cola Co/The                                                                | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     15159 | NS      | $1005344.88   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP             | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    465000 | PA      | $314556.69    | 0.11%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CBS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     34000 | PA      | $32096.80     | 0.01%             | 2028-03-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae                                                                      | CUSIP: 21H0226A4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    586000 | PA      | $504417.78    | 0.18%             | 2055-10-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132D6EA4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     25101 | PA      | $25172.91     | 0.01%             | 2038-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II              | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $337411.95    | 0.12%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                | Foundry JV Holdco LLC                                                           | CUSIP: 350930AJ2<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    325000 | PA      | $347290.75    | 0.12%             | 2037-01-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Toyota Lease Owner Trust             | Toyota Lease Owner Trust 2025-B                                                 | CUSIP: 89240NAD4<br>LEI: 25490023VYI9VGKU0357 | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $199815.20    | 0.07%             | 2028-11-20      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XKME7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7596 | PA      | $7495.55      | 0.00%             | 2050-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GLOBAL FUNDING             | Fortitude Global Funding                                                        | CUSIP: 34967GAA2<br>LEI: 635400TKBOGEHNO5RT68 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170139.53    | 0.06%             | 2028-10-06      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 3140XFPU9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    542792 | PA      | $465474.20    | 0.17%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc               | UnitedHealth Group Inc                                                          | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      3980 | NS      | $1374294.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO             | Columbia Pipelines Holding Co LLC                                               | CUSIP: 19828AAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $116806.21    | 0.04%             | 2031-10-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP             | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $126010.67    | 0.04%             | 2042-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Clean Harbors Inc                    | Clean Harbors Inc                                                               | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      5680 | NS      | $1319009.60   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLO AMERICAN CAPITAL               | Anglo American Capital PLC                                                      | CUSIP: 034863AR1<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $201484.10    | 0.07%             | 2027-04-10      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae                                                                      | CUSIP: 21H0406A6<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |   -667000 | PA      | $-627188.44   | -0.22%            | 2055-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International       | Johnson Controls International plc                                              | CUSIP: 000000000<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | US        |      4039 | NS      | $444088.05    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                  | Gilead Sciences Inc                                                             | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      4701 | NS      | $521811.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp/The                    | Middleby Corp/The                                                               | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |      3469 | NS      | $461134.17    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179V7D6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    146994 | PA      | $121694.75    | 0.04%             | 2051-02-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179XDD5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    373589 | PA      | $355330.35    | 0.13%             | 2052-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Intuit Inc                           | Intuit Inc                                                                      | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      1588 | NS      | $1084461.08   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                               | Sempra                                                                          | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     13533 | NS      | $1217699.34   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810RX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    355900 | PA      | $270720.34    | 0.10%             | 2047-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A       | Ginnie Mae II Pool                                                              | CUSIP: 36179V4U1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    166676 | PA      | $138096.64    | 0.05%             | 2051-01-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Cytokinetics Inc                     | Cytokinetics Inc                                                                | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |      3671 | NS      | $201758.16    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS ELECTRIC MKT STABL             | Texas Electric Market Stabilization Funding N LLC                               | CUSIP: 88240TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    294293 | PA      | $293652.22    | 0.10%             | 2034-08-01      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae Pool                                                                 | CUSIP: 31418ERL6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    247142 | PA      | $247852.86    | 0.09%             | 2038-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp                       | Starbucks Corp                                                                  | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      4513 | NS      | $381799.80    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132D9HT4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    409553 | PA      | $362928.80    | 0.13%             | 2042-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 912810TG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    701700 | PA      | $500235.35    | 0.18%             | 2052-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                      | United States Treasury Note/Bond                                                | CUSIP: 91282CMG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    388500 | PA      | $396831.50    | 0.14%             | 2030-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BPCE SA                              | BPCE SA                                                                         | CUSIP: 056121AA4<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $256488.93    | 0.09%             | 2031-05-28      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                           | Fannie Mae REMICS                                                               | CUSIP: 3136B9VP9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    178223 | PA      | $139179.49    | 0.05%             | 2049-10-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fidelity Government Portfolio        | Fidelity Government Portfolio                                                   | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   1934771 | NS      | $1934770.94   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                          | Freddie Mac Pool                                                                | CUSIP: 3132DWGH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     28670 | PA      | $28998.58     | 0.01%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** Forethought Variable Insurance Trust

**Signature:** Cameron Jeffreys, CFA

**Name of Signer:** Cameron Jeffreys, CFA

**Title:** Senior Vice President