# EDGAR Filing Document

**Accession Number:** 0001537395
**File Stem:** 0000940400-26-021779
**Filing Date:** 2026-5
**Character Count:** 318060
**Document Hash:** cfb3f1e2be4b9e5984107edc3dc10e4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021779.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021779

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0001537395

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22652
- **FILM NUMBER:** 261032172

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

## Series and Classes Contracts Data

### First Trust/Dow Jones Dividend & Income Allocation Portfolio (Series ID: S000036417)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000111397 | Class I      |  |

## Nport-Ex

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments** 

**March 31, 2026 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS – 50.9%** | **COMMON STOCKS – 50.9%** | **COMMON STOCKS – 50.9%** |
|  | **Aerospace & Defense – 1.5%** |  |
| 7415 | General Dynamics Corp. | $2544976 |
| 8102 | General Electric Co. | 2299105 |
| 4377 | Northrop Grumman Corp. | 2986164 |
| 8254 | Woodward, Inc. | 2954272 |
|  |  | 10784517 |
|  | **Air Freight & Logistics – 0.3%** |  |
| 16748 | Expeditors International of Washington, Inc. | 2398816 |
|  | **Automobile Components – 0.3%** |  |
| 21026 | Autoliv, Inc. | 2211094 |
|  | **Banks – 5.8%** |  |
| 18442 | 1st Source Corp. | 1276371 |
| 23541 | BancFirst Corp. | 2554199 |
| 20151 | Bank First Corp. | 2721594 |
| 54230 | Bank OZK | 2488615 |
| 20670 | City Holding Co. | 2470478 |
| 47683 | Commerce Bancshares, Inc. | 2346004 |
| 19709 | Cullen/Frost Bankers, Inc. | 2701710 |
| 120392 | First BanCorp | 2571573 |
| 39191 | Hancock Whitney Corp. | 2492156 |
| 89837 | Home BancShares, Inc. | 2419310 |
| 37563 | International Bancshares Corp. | 2527614 |
| 7746 | JPMorgan Chase & Co. | 2278563 |
| 14016 | Lakeland Financial Corp. | 804238 |
| 64583 | National Bank Holdings Corp., Class A | 2529070 |
| 56469 | OFG Bancorp | 2284736 |
| 14038 | Park National Corp. | 2294511 |
| 20042 | Popular, Inc. | 2689035 |
| 14876 | Preferred Bank | 1349104 |
| 26553 | Westamerica BanCorp | 1384739 |
|  |  | 42183620 |
|  | **Beverages – 0.4%** |  |
| 17388 | PepsiCo, Inc. | 2700182 |
|  | **Building Products – 1.3%** |  |
| 37317 | A.O. Smith Corp. | 2460683 |
| 8502 | CSW Industrials, Inc. | 2215451 |
| 5141 | Lennox International, Inc. | 2386092 |
| 6412 | Trane Technologies PLC | 2672137 |
|  |  | 9734363 |
|  | **Capital Markets – 3.6%** |  |
| 5089 | Ameriprise Financial, Inc. | 2261551 |
| 9943 | Cboe Global Markets, Inc. | 2794679 |
| 8601 | FactSet Research Systems, Inc. | 1866331 |
| 47931 | Federated Hermes, Inc. | 2718167 |
| 38808 | Interactive Brokers Group, Inc., Class A | 2602852 |
| 15539 | Raymond James Financial, Inc. | 2249892 |
| 30427 | SEI Investments Co. | 2387607 |
| 29897 | Stifel Financial Corp. | 2209986 |
| 24376 | T. Rowe Price Group, Inc. | 2197253 |
| 23207 | Tradeweb Markets, Inc., Class A | 2730536 |
| 15137 | Virtus Investment Partners, Inc. | 2033656 |
|  |  | 26052510 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Chemicals – 2.4%** |  |
| 16274 | Balchem Corp. | $2758118 |
| 37656 | Cabot Corp. | 2835874 |
| 32269 | CF Industries Holdings, Inc. | 4189807 |
| 9509 | Ecolab, Inc. | 2529584 |
| 5853 | Linde PLC | 2901683 |
| 3634 | NewMarket Corp. | 2329212 |
|  |  | 17544278 |
|  | **Commercial Services & Supplies – 1.0%** |  |
| 31846 | Brady Corp., Class A | 2587169 |
| 13269 | Cintas Corp. | 2244319 |
| 41582 | Rollins, Inc. | 2220894 |
|  |  | 7052382 |
|  | **Construction & Engineering – 0.4%** |  |
| 4078 | EMCOR Group, Inc. | 3010828 |
|  | **Consumer Staples Distribution & Retail – 1.2%** |  |
| 4517 | Casey's General Stores, Inc. | 3287744 |
| 2895 | Costco Wholesale Corp. | 2884665 |
| 22401 | Walmart, Inc. | 2783996 |
|  |  | 8956405 |
|  | **Containers & Packaging – 0.7%** |  |
| 20465 | AptarGroup, Inc. | 2578999 |
| 13723 | Avery Dennison Corp. | 2369688 |
|  |  | 4948687 |
|  | **Diversified Consumer Services – 0.3%** |  |
| 2270 | Graham Holdings Co., Class B | 2399980 |
|  | **Diversified Telecommunication Services – 0.3%** |  |
| 83498 | Comcast Corp., Class A | 2397228 |
|  | **Electric Utilities – 0.4%** |  |
| 30884 | Otter Tail Corp. | 2710689 |
|  | **Electrical Equipment – 0.4%** |  |
| 12157 | AMETEK, Inc. | 2605974 |
|  | **Electronic Equipment, Instruments & Components – 0.6%** |  |
| 18467 | Amphenol Corp., Class A | 2333305 |
| 14310 | Badger Meter, Inc. | 2180129 |
|  |  | 4513434 |
|  | **Energy Equipment & Services – 0.5%** |  |
| 65027 | SLB Ltd. | 3341737 |
|  | **Financial Services – 2.1%** |  |
| 38391 | Essent Group Ltd. | 2243570 |
| 13679 | Jack Henry & Associates, Inc. | 2161829 |
| 4372 | Mastercard, Inc., Class A | 2184514 |
| 85411 | MGIC Investment Corp. | 2242039 |
| 69345 | Radian Group, Inc. | 2293933 |
| 7118 | Visa, Inc., Class A | 2151344 |
| 33504 | Voya Financial, Inc. | 2288993 |
|  |  | 15566222 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Food Products – 2.3%** |  |
| 31365 | Cal-Maine Foods, Inc. | $2482540 |
| 53671 | General Mills, Inc. | 1997635 |
| 13715 | Hershey (The) Co. | 2851211 |
| 22633 | Ingredion, Inc. | 2549834 |
| 27616 | J&J Snack Foods Corp. | 2189120 |
| 15179 | Marzetti (The) Company | 2099711 |
| 46364 | Mondelez International, Inc., Class A | 2672421 |
|  |  | 16842472 |
|  | **Ground Transportation – 0.8%** |  |
| 17365 | Landstar System, Inc. | 2783783 |
| 15917 | Old Dominion Freight Line, Inc. | 3110182 |
|  |  | 5893965 |
|  | **Health Care Equipment & Supplies – 0.6%** |  |
| 19920 | Abbott Laboratories | 2045186 |
| 9844 | STERIS PLC | 2176804 |
|  |  | 4221990 |
|  | **Health Care Providers & Services – 0.3%** |  |
| 5832 | Chemed Corp. | 2202980 |
|  | **Hotel & Resort REITs – 0.3%** |  |
| 26375 | Ryman Hospitality Properties, Inc. | 2433621 |
|  | **Hotels, Restaurants & Leisure – 1.0%** |  |
| 29280 | Boyd Gaming Corp. | 2406230 |
| 13561 | Darden Restaurants, Inc. | 2658499 |
| 15034 | Texas Roadhouse, Inc. | 2482715 |
|  |  | 7547444 |
|  | **Household Durables – 0.4%** |  |
| 12303 | Garmin Ltd. | 2854419 |
|  | **Household Products – 0.4%** |  |
| 17415 | Procter & Gamble (The) Co. | 2515423 |
|  | **Insurance – 5.8%** |  |
| 22631 | Aflac, Inc. | 2482847 |
| 11989 | Allstate (The) Corp. | 2485799 |
| 29172 | American International Group, Inc. | 2195193 |
| 10362 | Assurant, Inc. | 2256947 |
| 27769 | Assured Guaranty Ltd. | 2262618 |
| 7996 | Chubb Ltd. | 2606136 |
| 15280 | Cincinnati Financial Corp. | 2404308 |
| 7355 | Everest Group Ltd. | 2403982 |
| 13657 | Hanover Insurance Group (The), Inc. | 2367441 |
| 18111 | Hartford Insurance Group (The), Inc. | 2449151 |
| 13453 | Marsh & McLennan Cos., Inc. | 2333423 |
| 54682 | Old Republic International Corp. | 2181812 |
| 9659 | Primerica, Inc. | 2419386 |
| 10961 | Progressive (The) Corp. | 2172909 |
| 29828 | Selective Insurance Group, Inc. | 2248733 |
| 8605 | Travelers (The) Cos., Inc. | 2509906 |
| 32203 | Unum Group | 2351785 |
| 35593 | W.R. Berkley Corp. | 2359104 |
|  |  | 42491480 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **IT Services – 0.5%** |  |
| 9301 | Accenture PLC, Class A | $1844295 |
| 30069 | Cognizant Technology Solutions Corp., Class A | 1844733 |
|  |  | 3689028 |
|  | **Machinery – 3.3%** |  |
| 5362 | Deere & Co. | 3020415 |
| 28148 | Donaldson Co., Inc. | 2388921 |
| 26126 | Franklin Electric Co., Inc. | 2408033 |
| 30447 | Graco, Inc. | 2577338 |
| 14384 | ITT, Inc. | 2740583 |
| 21741 | Mueller Industries, Inc. | 2408903 |
| 7241 | Snap-on, Inc. | 2630076 |
| 11692 | Wabtec Corp. | 2921948 |
| 9041 | Watts Water Technologies, Inc., Class A | 2624512 |
|  |  | 23720729 |
|  | **Media – 0.8%** |  |
| 35951 | New York Times (The) Co., Class A | 3010177 |
| 30906 | Omnicom Group, Inc. | 2327531 |
| 3352 | Versant Media Group, Inc. (a) | 124091 |
|  |  | 5461799 |
|  | **Metals & Mining – 0.4%** |  |
| 8641 | Reliance, Inc. | 2626173 |
|  | **Mortgage Real Estate Investment Trusts – 0.3%** |  |
| 178139 | Dynex Capital, Inc. | 2273054 |
|  | **Oil, Gas & Consumable Fuels – 2.0%** |  |
| 12838 | Cheniere Energy, Inc. | 3642911 |
| 16374 | Chevron Corp. | 3387780 |
| 20739 | Exxon Mobil Corp. | 3518579 |
| 114012 | Magnolia Oil & Gas Corp., Class A | 3599359 |
|  |  | 14148629 |
|  | **Pharmaceuticals – 0.7%** |  |
| 12059 | Johnson & Johnson | 2947702 |
| 19835 | Zoetis, Inc. | 2344695 |
|  |  | 5292397 |
|  | **Professional Services – 2.3%** |  |
| 9701 | Automatic Data Processing, Inc. | 1971049 |
| 11184 | Broadridge Financial Solutions, Inc. | 1817176 |
| 12436 | CRA International, Inc. | 2013140 |
| 35931 | Exponent, Inc. | 2344498 |
| 53349 | Genpact Ltd. | 1987250 |
| 37802 | Korn Ferry  | 2379636 |
| 22249 | Paychex, Inc. | 2049578 |
| 91889 | Robert Half, Inc. | 2333981 |
|  |  | 16896308 |
|  | **Software – 0.8%** |  |
| 38863 | Dolby Laboratories, Inc., Class A | 2334112 |
| 3768 | Intuit, Inc. | 1629208 |
| 5160 | Microsoft Corp. | 1910077 |
|  |  | 5873397 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Specialized REITs – 0.7%** |  |
| 115277 | Rayonier, Inc. | $2377012 |
| 88753 | VICI Properties, Inc. | 2424732 |
|  |  | 4801744 |
|  | **Specialty Retail – 1.8%** |  |
| 6183 | Murphy USA, Inc. | 3054216 |
| 15767 | Penske Automotive Group, Inc. | 2357482 |
| 13854 | Ross Stores, Inc. | 3001192 |
| 16250 | TJX (The) Cos., Inc. | 2595125 |
| 49906 | Tractor Supply Co. | 2260742 |
|  |  | 13268757 |
|  | **Trading Companies & Distributors – 1.9%** |  |
| 9720 | Applied Industrial Technologies, Inc. | 2578910 |
| 62190 | Fastenal Co. | 2885616 |
| 29676 | MSC Industrial Direct Co., Inc., Class A | 2738205 |
| 2475 | W.W. Grainger, Inc. | 2699755 |
| 7409 | Watsco, Inc. | 2695320 |
|  |  | 13597806 |
|  | **Total Common Stocks** | 369766561 |
|  | (Cost $339,022,263) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES – 41.9%** | **CORPORATE BONDS AND NOTES – 41.9%** | **CORPORATE BONDS AND NOTES – 41.9%** | **CORPORATE BONDS AND NOTES – 41.9%** | **CORPORATE BONDS AND NOTES – 41.9%** |
|  | **Aerospace & Defense – 2.0%** |  |  |  |
| $2000000 | Boeing (The) Co. | 3.55<br> %<br>| 03/01/38 | 1662738 |
| 1000000 | Howmet Aerospace, Inc. | 4.75<br> %<br>| 04/15/36 | 972625 |
| 500000 | Northrop Grumman Corp. | 4.60<br> %<br>| 02/01/29 | 503332 |
| 500000 | Northrop Grumman Corp. | 5.05<br> %<br>| 11/15/40 | 482535 |
| 750000 | Northrop Grumman Corp. | 4.03<br> %<br>| 10/15/47 | 590916 |
| 250000 | Northrop Grumman Corp. | 5.25<br> %<br>| 05/01/50 | 232038 |
| 1000000 | Northrop Grumman Corp. | 4.95<br> %<br>| 03/15/53 | 886517 |
| 2500000 | Northrop Grumman Corp. | 5.20<br> %<br>| 06/01/54 | 2305611 |
| 600000 | RTX Corp. | 5.75<br> %<br>| 01/15/29 | 622558 |
| 1000000 | RTX Corp. | 6.00<br> %<br>| 03/15/31 | 1063299 |
| 1500000 | RTX Corp. | 3.13<br> %<br>| 07/01/50 | 987214 |
| 1000000 | RTX Corp. | 2.82<br> %<br>| 09/01/51 | 612170 |
| 2500000 | RTX Corp. | 5.38<br> %<br>| 02/27/53 | 2349378 |
| 1000000 | RTX Corp. | 6.40<br> %<br>| 03/15/54 | 1079035 |
|  |  |  |  | 14349966 |
|  | **Air Freight & Logistics – 0.1%** |  |  |  |
| 750000 | FedEx Corp. | 4.55<br> %<br>| 04/01/46 | 626494 |
|  | **Banks – 7.6%** |  |  |  |
| 1105000 | Bank of America Corp. (b) | 5.20<br> %<br>| 04/25/29 | 1120895 |
| 500000 | Bank of America Corp. (b) | 4.27<br> %<br>| 07/23/29 | 498045 |
| 500000 | Bank of America Corp. (b) | 3.97<br> %<br>| 02/07/30 | 493233 |
| 500000 | Bank of America Corp. (b) | 3.19<br> %<br>| 07/23/30 | 479619 |
| 500000 | Bank of America Corp. (b) | 2.88<br> %<br>| 10/22/30 | 473029 |
| 500000 | Bank of America Corp. (b) | 1.90<br> %<br>| 07/23/31 | 445437 |
| 1000000 | Bank of America Corp. (b) | 1.92<br> %<br>| 10/24/31 | 886529 |
| 500000 | Bank of America Corp. (b) | 2.57<br> %<br>| 10/20/32 | 445026 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Banks (Continued)** |  |  |  |
| $500000 | Bank of America Corp. (b) | 4.57<br> %<br>| 04/27/33 | $491474 |
| 3500000 | Bank of America Corp. (b) | 5.29<br> %<br>| 04/25/34 | 3543868 |
| 2500000 | Bank of America Corp. (b) | 5.47<br> %<br>| 01/23/35 | 2552803 |
| 2000000 | Bank of America Corp. (b) | 5.05<br> %<br>| 02/06/37 | 1974196 |
| 500000 | Bank of America Corp. (b) | 4.08<br> %<br>| 04/23/40 | 435447 |
| 1000000 | Bank of America Corp. (b) | 2.68<br> %<br>| 06/19/41 | 717272 |
| 1000000 | Citibank N.A. | 4.91<br> %<br>| 05/29/30 | 1015813 |
| 1250000 | Citigroup, Inc. (b) | 4.95<br> %<br>| 05/07/31 | 1258534 |
| 1000000 | Citigroup, Inc. (b) | 5.17<br> %<br>| 09/11/36 | 991658 |
| 500000 | JPMorgan Chase & Co. (b) | 3.51<br> %<br>| 01/23/29 | 492105 |
| 1000000 | JPMorgan Chase & Co. (b) | 2.07<br> %<br>| 06/01/29 | 951650 |
| 1000000 | JPMorgan Chase & Co. (b) | 5.30<br> %<br>| 07/24/29 | 1018794 |
| 1475000 | JPMorgan Chase & Co. (b) | 5.01<br> %<br>| 01/23/30 | 1495846 |
| 500000 | JPMorgan Chase & Co. (b) | 3.70<br> %<br>| 05/06/30 | 487751 |
| 1000000 | JPMorgan Chase & Co. (b) | 4.26<br> %<br>| 10/22/31 | 984646 |
| 1500000 | JPMorgan Chase & Co. (b) | 4.35<br> %<br>| 01/22/32 | 1479148 |
| 1000000 | JPMorgan Chase & Co. (b) | 2.58<br> %<br>| 04/22/32 | 904017 |
| 1000000 | JPMorgan Chase & Co. (b) | 2.96<br> %<br>| 01/25/33 | 907584 |
| 1000000 | JPMorgan Chase & Co. (b) | 4.91<br> %<br>| 07/25/33 | 1001043 |
| 1000000 | JPMorgan Chase & Co. (b) | 5.35<br> %<br>| 06/01/34 | 1020770 |
| 1000000 | JPMorgan Chase & Co. (b) | 5.34<br> %<br>| 01/23/35 | 1015670 |
| 1500000 | JPMorgan Chase & Co. (b) | 4.90<br> %<br>| 01/22/37 | 1468328 |
| 1000000 | JPMorgan Chase & Co. (b) | 2.53<br> %<br>| 11/19/41 | 699391 |
| 1000000 | PNC Financial Services Group (The), Inc. (b) | 4.08<br> %<br>| 01/26/29 | 995112 |
| 1500000 | PNC Financial Services Group (The), Inc. (b) | 5.58<br> %<br>| 06/12/29 | 1537324 |
| 1000000 | PNC Financial Services Group (The), Inc. (b) | 5.07<br> %<br>| 01/24/34 | 1000311 |
| 1500000 | Truist Bank (b) | 4.14<br> %<br>| 10/23/29 | 1486007 |
| 2000000 | Truist Financial Corp. (b) | 7.16<br> %<br>| 10/30/29 | 2126449 |
| 1500000 | US Bancorp (b) | 5.38<br> %<br>| 01/23/30 | 1536402 |
| 1000000 | US Bancorp (b) | 5.42<br> %<br>| 02/12/36 | 1022268 |
| 1000000 | US Bancorp (b) | 5.03<br> %<br>| 01/26/37 | 985666 |
| 1000000 | Wells Fargo & Co. (b) | 4.08<br> %<br>| 09/15/29 | 989170 |
| 2000000 | Wells Fargo & Co. (b) | 4.18<br> %<br>| 01/23/30 | 1982589 |
| 1000000 | Wells Fargo & Co. (b) | 5.20<br> %<br>| 01/23/30 | 1015811 |
| 1000000 | Wells Fargo & Co. (b) | 5.24<br> %<br>| 01/24/31 | 1019623 |
| 1000000 | Wells Fargo & Co. (b) | 5.15<br> %<br>| 04/23/31 | 1017271 |
| 1000000 | Wells Fargo & Co. (b) | 5.50<br> %<br>| 01/23/35 | 1018273 |
| 3000000 | Wells Fargo & Co. (b) | 5.21<br> %<br>| 12/03/35 | 2988062 |
| 1000000 | Wells Fargo & Co. (b) | 4.96<br> %<br>| 01/23/37 | 974515 |
| 2000000 | Zions Bancorp N.A. (b) | 4.48<br> %<br>| 02/09/29 | 1985812 |
|  |  |  |  | 55430286 |
|  | **Beverages – 0.3%** |  |  |  |
| 875000 | &nbsp;&nbsp; Anheuser-Busch Cos., LLC/Anheuser-Busch InBev Worldwide, <br> Inc.<br>| 4.70<br> %<br>| 02/01/36 | 852580 |
| 1100000 | &nbsp;&nbsp; Anheuser-Busch Cos., LLC/Anheuser-Busch InBev Worldwide, <br> Inc.<br>| 4.90<br> %<br>| 02/01/46 | 991916 |
|  |  |  |  | 1844496 |
|  | **Biotechnology – 1.9%** |  |  |  |
| 1000000 | Abbvie, Inc. | 4.13<br> %<br>| 03/15/31 | 985707 |
| 1000000 | Abbvie, Inc. | 5.55<br> %<br>| 03/15/56 | 978710 |
| 2000000 | AbbVie, Inc. | 4.80<br> %<br>| 03/15/29 | 2032404 |
| 2000000 | AbbVie, Inc. | 4.88<br> %<br>| 03/15/30 | 2040380 |
| 275000 | AbbVie, Inc. | 4.40<br> %<br>| 11/06/42 | 241766 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Biotechnology (Continued)** |  |  |  |
| $300000 | AbbVie, Inc. | 4.70<br> %<br>| 05/14/45 | $267775 |
| 250000 | AbbVie, Inc. | 4.88<br> %<br>| 11/14/48 | 224323 |
| 1000000 | AbbVie, Inc. | 4.25<br> %<br>| 11/21/49 | 812291 |
| 1000000 | Amgen, Inc. | 4.20<br> %<br>| 02/19/31 | 986546 |
| 1000000 | Amgen, Inc. | 4.85<br> %<br>| 02/19/36 | 982912 |
| 750000 | Amgen, Inc. | 3.15<br> %<br>| 02/21/40 | 583841 |
| 1000000 | Amgen, Inc. | 2.80<br> %<br>| 08/15/41 | 723166 |
| 3000000 | Amgen, Inc. | 5.60<br> %<br>| 03/02/43 | 2961622 |
|  |  |  |  | 13821443 |
|  | **Capital Markets – 4.6%** |  |  |  |
| 5000000 | Goldman Sachs Group (The), Inc. (b) | 4.48<br> %<br>| 08/23/28 | 5001110 |
| 500000 | Goldman Sachs Group (The), Inc. | 2.60<br> %<br>| 02/07/30 | 465230 |
| 1000000 | Goldman Sachs Group (The), Inc. (b) | 5.73<br> %<br>| 04/25/30 | 1031874 |
| 1000000 | Goldman Sachs Group (The), Inc. (b) | 4.37<br> %<br>| 10/21/31 | 980726 |
| 1000000 | Goldman Sachs Group (The), Inc. (b) | 1.99<br> %<br>| 01/27/32 | 877921 |
| 1000000 | Goldman Sachs Group (The), Inc. (b) | 2.62<br> %<br>| 04/22/32 | 898572 |
| 1500000 | Goldman Sachs Group (The), Inc. (b) | 2.65<br> %<br>| 10/21/32 | 1332131 |
| 1000000 | Goldman Sachs Group (The), Inc. (b) | 5.07<br> %<br>| 01/21/37 | 978045 |
| 1000000 | Goldman Sachs Group (The), Inc. (b) | 2.91<br> %<br>| 07/21/42 | 704974 |
| 500000 | Goldman Sachs Group (The), Inc. (b) | 3.44<br> %<br>| 02/24/43 | 376559 |
| 1000000 | LSEG US Fin Corp. (c) | 4.50<br> %<br>| 03/23/31 | 988029 |
| 667000 | LSEG US Fin Corp. (c) | 5.25<br> %<br>| 03/23/36 | 660703 |
| 1750000 | Morgan Stanely (b) | 4.49<br> %<br>| 01/16/32 | 1721081 |
| 1000000 | Morgan Stanley (b) | 5.12<br> %<br>| 02/01/29 | 1011284 |
| 2000000 | Morgan Stanley (b) | 5.16<br> %<br>| 04/20/29 | 2023355 |
| 2500000 | Morgan Stanley (b) | 5.45<br> %<br>| 07/20/29 | 2544942 |
| 500000 | Morgan Stanley (b) | 4.43<br> %<br>| 01/23/30 | 497870 |
| 1000000 | Morgan Stanley (b) | 2.51<br> %<br>| 10/20/32 | 883293 |
| 2000000 | Morgan Stanley (b) | 5.25<br> %<br>| 04/21/34 | 2006960 |
| 1000000 | Morgan Stanley (b) | 5.42<br> %<br>| 07/21/34 | 1015042 |
| 500000 | Morgan Stanley (b) | 4.46<br> %<br>| 04/22/39 | 458680 |
| 3000000 | Morgan Stanley Private Bank N.A. (b) | 4.47<br> %<br>| 07/06/28 | 3000555 |
| 1500000 | MSCI, Inc. (c) | 4.00<br> %<br>| 11/15/29 | 1457589 |
| 2500000 | MSCI, Inc. (c) | 3.88<br> %<br>| 02/15/31 | 2364675 |
|  |  |  |  | 33281200 |
|  | **Construction Materials – 0.2%** |  |  |  |
| 1125000 | CRH America Finance, Inc. | 5.40<br> %<br>| 05/21/34 | 1146016 |
|  | **Consumer Finance – 0.9%** |  |  |  |
| 3000000 | American Express Co. (b) | 4.01<br> %<br>| 02/09/29 | 2981509 |
| 1000000 | American Express Co. (b) | 5.53<br> %<br>| 04/25/30 | 1029839 |
| 737000 | American Express Co. (b) | 5.09<br> %<br>| 01/30/31 | 749642 |
| 1000000 | American Express Co. (b) | 4.92<br> %<br>| 07/20/33 | 1002179 |
| 1000000 | American Express Co. (b) | 4.80<br> %<br>| 10/24/36 | 967278 |
|  |  |  |  | 6730447 |
|  | **Consumer Staples Distribution & Retail – 0.1%** |  |  |  |
| 1000000 | Sysco Corp. | 4.40<br> %<br>| 07/25/31 | 970091 |
|  | **Containers & Packaging – 0.3%** |  |  |  |
| 1000000 | Amcor Flexibles North America, Inc. | 5.13<br> %<br>| 03/12/36 | 972674 |
| 1000000 | Packaging Corp. of America | 5.20<br> %<br>| 08/15/35 | 992560 |
|  |  |  |  | 1965234 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Diversified Telecommunication Services – 1.6%** |  |  |  |
| $500000 | AT&T, Inc. | 1.65<br> %<br>| 02/01/28 | $476617 |
| 1392000 | AT&T, Inc. | 2.55<br> %<br>| 12/01/33 | 1178541 |
| 500000 | AT&T, Inc. | 5.55<br> %<br>| 11/01/45 | 473685 |
| 1186000 | AT&T, Inc. | 3.50<br> %<br>| 09/15/53 | 778284 |
| 504000 | AT&T, Inc. | 3.55<br> %<br>| 09/15/55 | 328032 |
| 1044000 | AT&T, Inc. | 3.65<br> %<br>| 09/15/59 | 677020 |
| 500000 | Comcast Corp. | 3.25<br> %<br>| 11/01/39 | 386255 |
| 1000000 | Comcast Corp. | 3.75<br> %<br>| 04/01/40 | 811276 |
| 500000 | Comcast Corp. | 4.00<br> %<br>| 08/15/47 | 372518 |
| 1119000 | Verizon Communications, Inc. | 4.02<br> %<br>| 12/03/29 | 1103927 |
| 500000 | Verizon Communications, Inc. | 1.75<br> %<br>| 01/20/31 | 438518 |
| 500000 | Verizon Communications, Inc. | 2.55<br> %<br>| 03/21/31 | 454050 |
| 1650000 | Verizon Communications, Inc. | 4.78<br> %<br>| 02/15/35 | 1597598 |
| 500000 | Verizon Communications, Inc. | 2.65<br> %<br>| 11/20/40 | 351209 |
| 500000 | Verizon Communications, Inc. | 3.40<br> %<br>| 03/22/41 | 384157 |
| 500000 | Verizon Communications, Inc. | 2.88<br> %<br>| 11/20/50 | 303511 |
| 1000000 | Verizon Communications, Inc. | 3.55<br> %<br>| 03/22/51 | 698353 |
| 1000000 | Verizon Communications, Inc. | 3.88<br> %<br>| 03/01/52 | 731868 |
|  |  |  |  | 11545419 |
|  | **Electric Utilities – 6.9%** |  |  |  |
| 1000000 | AEP Transmission Co., LLC | 5.15<br> %<br>| 04/01/34 | 1008132 |
| 900000 | AEP Transmission Co., LLC | 4.25<br> %<br>| 09/15/48 | 714904 |
| 500000 | AEP Transmission Co., LLC | 5.40<br> %<br>| 03/15/53 | 470797 |
| 2000000 | AEP Transmission Co., LLC, Series N | 2.75<br> %<br>| 08/15/51 | 1205641 |
| 1000000 | Alabama Power Co. | 5.85<br> %<br>| 11/15/33 | 1059242 |
| 500000 | Alabama Power Co. | 5.10<br> %<br>| 04/02/35 | 504833 |
| 1000000 | Alabama Power Co., Series C | 4.30<br> %<br>| 03/15/31 | 990221 |
| 2542000 | American Transmission Systems, Inc. (c) | 2.65<br> %<br>| 01/15/32 | 2278843 |
| 500000 | Commonwealth Edison Co. | 4.90<br> %<br>| 02/01/33 | 504735 |
| 500000 | Commonwealth Edison Co. | 4.00<br> %<br>| 03/01/49 | 383909 |
| 1000000 | Commonwealth Edison Co. | 5.30<br> %<br>| 02/01/53 | 928077 |
| 2000000 | Duke Energy Carolinas, LLC | 5.35<br> %<br>| 01/15/53 | 1875417 |
| 1000000 | Duke Energy Carolinas, LLC | 5.40<br> %<br>| 01/15/54 | 949314 |
| 267000 | Duke Energy Florida, LLC | 4.85<br> %<br>| 12/01/35 | 262186 |
| 500000 | Duke Energy Florida, LLC | 6.20<br> %<br>| 11/15/53 | 523933 |
| 455000 | Duke Energy Indiana, LLC, Series DDDD | 4.95<br> %<br>| 03/15/36 | 448100 |
| 1000000 | Duke Energy Progress, LLC | 4.00<br> %<br>| 04/01/52 | 757675 |
| 2000000 | FirstEnergy Pennsylvania Electric Co. (c) | 4.15<br> %<br>| 03/15/28 | 1993094 |
| 1000000 | FirstEnergy Pennsylvania Electric Co. (c) | 4.55<br> %<br>| 03/15/31 | 996847 |
| 1500000 | FirstEnergy Transmission, LLC | 4.55<br> %<br>| 01/15/30 | 1499049 |
| 1000000 | Florida Power & Light Co. | 5.30<br> %<br>| 06/15/34 | 1028544 |
| 1500000 | Florida Power & Light Co. | 4.70<br> %<br>| 02/15/36 | 1462739 |
| 2000000 | Florida Power & Light Co. | 5.69<br> %<br>| 03/01/40 | 2065428 |
| 1750000 | Florida Power & Light Co. | 5.60<br> %<br>| 06/15/54 | 1714416 |
| 1500000 | Florida Power & Light Co. | 5.60<br> %<br>| 02/15/66 | 1446142 |
| 2000000 | Georgia Power Co. | 4.55<br> %<br>| 03/15/30 | 2008626 |
| 1000000 | Georgia Power Co. | 4.85<br> %<br>| 03/15/31 | 1012864 |
| 500000 | Indiana Michigan Power Co. | 3.25<br> %<br>| 05/01/51 | 328050 |
| 1000000 | Indiana Michigan Power Co. | 5.63<br> %<br>| 04/01/53 | 966475 |
| 1000000 | Indiana Michigan Power Co. | 5.60<br> %<br>| 03/15/56 | 965360 |
| 500000 | Indiana Michigan Power Co., Series L | 3.75<br> %<br>| 07/01/47 | 371300 |
| 500000 | Northern States Power Co. | 4.85<br> %<br>| 05/15/36 | 493890 |
| 1250000 | Northern States Power Co. | 5.40<br> %<br>| 03/15/54 | 1189781 |
| 500000 | Northern States Power Co. | 5.55<br> %<br>| 05/15/56 | 486266 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Electric Utilities (Continued)** |  |  |  |
| $1000000 | NRG Energy, Inc. (c) | 4.73<br> %<br>| 10/15/30 | $991276 |
| 1000000 | NRG Energy, Inc. (c) | 5.41<br> %<br>| 10/15/35 | 981540 |
| 2000000 | Ohio Edison Co. (c) | 5.50<br> %<br>| 01/15/33 | 2060042 |
| 500000 | PECO Energy Co. | 3.90<br> %<br>| 03/01/48 | 382259 |
| 4000000 | PECO Energy Co. | 4.38<br> %<br>| 08/15/52 | 3252873 |
| 909000 | Public Service Electric and Gas Co. | 4.20<br> %<br>| 01/01/31 | 897464 |
| 1500000 | Public Service Electric and Gas Co. | 5.20<br> %<br>| 03/01/34 | 1526095 |
| 500000 | Public Service Electric and Gas Co. | 5.45<br> %<br>| 08/01/53 | 481958 |
| 1750000 | Public Service Electric and Gas Co. | 5.45<br> %<br>| 03/01/54 | 1672429 |
| 1000000 | Trans-Allegheny Interstate Line Co. (c) | 5.00<br> %<br>| 01/15/31 | 1016296 |
| 1000000 | Virginia Electric and Power Co. | 4.95<br> %<br>| 03/15/36 | 975223 |
| 500000 | Virginia Electric and Power Co. | 5.60<br> %<br>| 09/15/55 | 476174 |
| 1000000 | Virginia Electric and Power Co. | 5.70<br> %<br>| 03/15/56 | 965283 |
|  |  |  |  | 50573742 |
|  | **Financial Services – 0.5%** |  |  |  |
| 1250000 | Global Payments, Inc. | 4.88<br> %<br>| 11/15/30 | 1228180 |
| 2250000 | Global Payments, Inc. | 5.55<br> %<br>| 11/15/35 | 2169266 |
|  |  |  |  | 3397446 |
|  | **Food Products – 1.0%** |  |  |  |
| 1000000 | Conagra Brands, Inc. | 5.00<br> %<br>| 08/01/30 | 998424 |
| 2000000 | Conagra Brands, Inc. | 5.30<br> %<br>| 11/01/38 | 1861275 |
| 500000 | Conagra Brands, Inc. | 5.40<br> %<br>| 11/01/48 | 425232 |
| 2250000 | Kraft Heinz Foods Co. | 5.50<br> %<br>| 06/01/50 | 2012857 |
| 2000000 | The Campbell's Company | 5.40<br> %<br>| 03/21/34 | 1941789 |
|  |  |  |  | 7239577 |
|  | **Ground Transportation – 0.3%** |  |  |  |
| 2500000 | Union Pacific Corp. | 4.95<br> %<br>| 05/15/53 | 2237543 |
|  | **Health Care Equipment & Supplies – 0.7%** |  |  |  |
| 2350000 | Abbott Laboratories | 4.90<br> %<br>| 11/30/46 | 2159401 |
| 2000000 | Medline Borrower, L.P. (c) | 3.88<br> %<br>| 04/01/29 | 1935843 |
| 1170000 | Solventum Corp. | 5.90<br> %<br>| 04/30/54 | 1143988 |
|  |  |  |  | 5239232 |
|  | **Health Care Providers & Services – 3.7%** |  |  |  |
| 1000000 | Centene Corp. | 2.45<br> %<br>| 07/15/28 | 931889 |
| 1200000 | Cigna (The) Group | 4.38<br> %<br>| 10/15/28 | 1199242 |
| 1150000 | Cigna (The) Group | 5.00<br> %<br>| 05/15/29 | 1171032 |
| 1000000 | Cigna (The) Group | 4.50<br> %<br>| 09/15/30 | 996890 |
| 1100000 | Cigna (The) Group | 5.40<br> %<br>| 03/15/33 | 1132247 |
| 1150000 | Cigna (The) Group | 5.25<br> %<br>| 02/15/34 | 1164558 |
| 1500000 | Cigna (The) Group | 4.90<br> %<br>| 12/15/48 | 1303413 |
| 1150000 | Cigna (The) Group | 5.60<br> %<br>| 02/15/54 | 1089799 |
| 1000000 | Cigna (The) Group | 6.00<br> %<br>| 01/15/56 | 1002318 |
| 2000000 | CVS Health Corp. | 6.20<br> %<br>| 09/15/55 | 1982700 |
| 1000000 | Elevance Health, Inc. | 6.10<br> %<br>| 10/15/52 | 1004023 |
| 500000 | Elevance Health, Inc. | 5.70<br> %<br>| 02/15/55 | 473009 |
| 500000 | Elevance Health, Inc. | 5.70<br> %<br>| 09/15/55 | 475774 |
| 1000000 | HCA, Inc. | 5.25<br> %<br>| 03/01/30 | 1021185 |
| 1000000 | HCA, Inc. | 2.38<br> %<br>| 07/15/31 | 884132 |
| 2500000 | HCA, Inc. | 5.50<br> %<br>| 06/01/33 | 2550898 |
| 2500000 | HCA, Inc. | 3.50<br> %<br>| 07/15/51 | 1656101 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Health Care Providers & Services (Continued)** |  |  |  |
| $2500000 | HCA, Inc. | 5.90<br> %<br>| 06/01/53 | $2382274 |
| 3500000 | UnitedHealth Group, Inc. | 5.30<br> %<br>| 02/15/30 | 3599705 |
| 1000000 | UnitedHealth Group, Inc. | 6.05<br> %<br>| 02/15/63 | 1000575 |
|  |  |  |  | 27021764 |
|  | **Hotels, Restaurants & Leisure – 0.5%** |  |  |  |
| 500000 | Hyatt Hotels Corp. | 5.40<br> %<br>| 12/15/35 | 490014 |
| 1000000 | Marriott International, Inc. | 4.50<br> %<br>| 05/01/33 | 966624 |
| 2500000 | McDonald's Corp. | 5.45<br> %<br>| 08/14/53 | 2372549 |
|  |  |  |  | 3829187 |
|  | **Independent Power & Renewable Electricity Producers – 0.6%** |  |  |  |
| 1500000 | Vistra Operations Co., LLC (c) | 4.60<br> %<br>| 10/15/30 | 1470967 |
| 2000000 | Vistra Operations Co., LLC (c) | 5.70<br> %<br>| 12/30/34 | 2013586 |
| 1000000 | Vistra Operations Co., LLC (c) | 5.35<br> %<br>| 01/31/36 | 978864 |
|  |  |  |  | 4463417 |
|  | **Insurance – 2.3%** |  |  |  |
| 182000 | Aon North America, Inc. | 5.15<br> %<br>| 03/01/29 | 185929 |
| 2300000 | Aon North America, Inc. | 5.75<br> %<br>| 03/01/54 | 2217874 |
| 1000000 | Arthur J. Gallagher & Co. | 5.15<br> %<br>| 02/15/35 | 992363 |
| 1000000 | Arthur J. Gallagher & Co. | 5.75<br> %<br>| 03/02/53 | 960234 |
| 1000000 | Arthur J. Gallagher & Co. | 6.75<br> %<br>| 02/15/54 | 1080981 |
| 1000000 | Arthur J. Gallagher & Co. | 5.55<br> %<br>| 02/15/55 | 934162 |
| 750000 | Brown & Brown, Inc. | 4.90<br> %<br>| 06/23/30 | 749503 |
| 2750000 | Brown & Brown, Inc. | 5.65<br> %<br>| 06/11/34 | 2778232 |
| 400000 | Brown & Brown, Inc. | 5.55<br> %<br>| 06/23/35 | 399683 |
| 2500000 | Brown & Brown, Inc. | 4.95<br> %<br>| 03/17/52 | 2085831 |
| 1000000 | Marsh & McLennan Cos., Inc. | 4.95<br> %<br>| 03/15/36 | 991079 |
| 1000000 | Marsh & McLennan Cos., Inc. | 6.25<br> %<br>| 11/01/52 | 1054613 |
| 1115000 | Marsh & McLennan Cos., Inc. | 5.45<br> %<br>| 03/15/54 | 1053740 |
| 1367000 | Ryan Specialty LLC (c) | 5.88<br> %<br>| 08/01/32 | 1352195 |
|  |  |  |  | 16836419 |
|  | **Life Sciences Tools & Services – 0.6%** |  |  |  |
| 1000000 | Augusta SpinCo Corp. | 4.66<br> %<br>| 03/23/31 | 995669 |
| 1000000 | Augusta SpinCo Corp. | 4.95<br> %<br>| 03/23/33 | 996831 |
| 2000000 | IQVIA, Inc. | 5.70<br> %<br>| 05/15/28 | 2039850 |
|  |  |  |  | 4032350 |
|  | **Media – 0.1%** |  |  |  |
| 500000 | &nbsp;&nbsp; Charter Communications Operating, LLC/Charter Communications <br> Operating Capital<br>| 5.85<br> %<br>| 12/01/35 | 492067 |
|  | **Multi-Utilities – 0.1%** |  |  |  |
| 1000000 | Consolidated Edison Co. of New York, Inc. | 6.15<br> %<br>| 11/15/52 | 1041055 |
|  | **Oil, Gas & Consumable Fuels – 0.5%** |  |  |  |
| 1000000 | BP Capital Markets America, Inc. | 4.70<br> %<br>| 04/10/29 | 1012002 |
| 500000 | BP Capital Markets America, Inc. | 1.75<br> %<br>| 08/10/30 | 447448 |
| 1500000 | BP Capital Markets America, Inc. | 2.72<br> %<br>| 01/12/32 | 1355983 |
| 1000000 | BP Capital Markets America, Inc. | 3.06<br> %<br>| 06/17/41 | 753303 |
|  |  |  |  | 3568736 |
|  | **Pharmaceuticals – 0.1%** |  |  |  |
| 1000000 | AstraZeneca Finance, LLC | 2.25<br> %<br>| 05/28/31 | 900300 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Professional Services – 0.4%** |  |  |  |
| $1000000 | Jacobs Solutions, Inc. | 4.75<br> %<br>| 03/03/31 | $986393 |
| 1000000 | Jacobs Solutions, Inc. | 5.38<br> %<br>| 03/03/36 | 975906 |
| 1000000 | Verisk Analytics, Inc. | 5.25<br> %<br>| 03/15/35 | 992027 |
|  |  |  |  | 2954326 |
|  | **Semiconductors & Semiconductor Equipment – 0.3%** |  |  |  |
| 500000 | Broadcom, Inc. | 4.75<br> %<br>| 04/15/29 | 505717 |
| 500000 | Broadcom, Inc. | 2.45<br> %<br>| 02/15/31 | 454209 |
| 1250000 | Broadcom, Inc. | 4.30<br> %<br>| 11/15/32 | 1217744 |
|  |  |  |  | 2177670 |
|  | **Software – 0.8%** |  |  |  |
| 1000000 | AppLovin Corp. | 5.13<br> %<br>| 12/01/29 | 1006032 |
| 1000000 | Oracle Corp. | 6.15<br> %<br>| 11/09/29 | 1031450 |
| 1000000 | Roper Technologies, Inc. | 4.90<br> %<br>| 10/15/34 | 966027 |
| 850000 | Salesforce, Inc. | 4.65<br> %<br>| 03/15/29 | 851894 |
| 1000000 | Salesforce, Inc. | 4.90<br> %<br>| 09/15/31 | 998820 |
| 500000 | Salesforce, Inc. | 5.55<br> %<br>| 03/15/36 | 498633 |
| 500000 | Salesforce, Inc. | 6.55<br> %<br>| 03/15/56 | 502071 |
|  |  |  |  | 5854927 |
|  | **Specialized REITs – 0.2%** |  |  |  |
| 1000000 | VICI Properties, L.P. | 5.13<br> %<br>| 11/15/31 | 993261 |
| 750000 | VICI Properties, L.P. | 5.13<br> %<br>| 05/15/32 | 739447 |
|  |  |  |  | 1732708 |
|  | **Trading Companies & Distributors – 0.3%** |  |  |  |
| 1000000 | Ashtead Capital, Inc. (c) | 5.95<br> %<br>| 10/15/33 | 1031038 |
| 1000000 | Ashtead Capital, Inc. (c) | 5.80<br> %<br>| 04/15/34 | 1019906 |
|  |  |  |  | 2050944 |
|  | **Water Utilities – 1.0%** |  |  |  |
| 4000000 | American Water Capital Corp. | 5.15<br> %<br>| 03/01/34 | 4067420 |
| 2500000 | American Water Capital Corp. | 5.45<br> %<br>| 03/01/54 | 2378815 |
| 667000 | American Water Capital Corp. | 5.70<br> %<br>| 09/01/55 | 653069 |
|  |  |  |  | 7099304 |
|  | **Wireless Telecommunication Services – 1.4%** |  |  |  |
| 750000 | T-Mobile USA, Inc. | 2.05<br> %<br>| 02/15/28 | 719671 |
| 2500000 | T-Mobile USA, Inc. | 4.85<br> %<br>| 01/15/29 | 2529314 |
| 750000 | T-Mobile USA, Inc. | 2.55<br> %<br>| 02/15/31 | 681733 |
| 500000 | T-Mobile USA, Inc. | 2.25<br> %<br>| 11/15/31 | 439623 |
| 1500000 | T-Mobile USA, Inc. | 5.20<br> %<br>| 01/15/33 | 1527520 |
| 1500000 | T-Mobile USA, Inc. | 3.00<br> %<br>| 02/15/41 | 1097414 |
| 1000000 | T-Mobile USA, Inc. | 3.30<br> %<br>| 02/15/51 | 655069 |
| 1500000 | T-Mobile USA, Inc. | 5.65<br> %<br>| 01/15/53 | 1419541 |
| 1000000 | T-Mobile USA, Inc. | 5.80<br> %<br>| 09/15/62 | 959640 |
|  |  |  |  | 10029525 |
|  | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | 304483331 |
|  | (Cost $317,733,365) |  |  |  |
| **FOREIGN CORPORATE BONDS AND NOTES – 5.1%** | **FOREIGN CORPORATE BONDS AND NOTES – 5.1%** | **FOREIGN CORPORATE BONDS AND NOTES – 5.1%** | **FOREIGN CORPORATE BONDS AND NOTES – 5.1%** | **FOREIGN CORPORATE BONDS AND NOTES – 5.1%** |
|  | **Banks – 2.0%** |  |  |  |
| 1000000 | Banco Santander S.A. | 4.55<br> %<br>| 11/06/30 | 986105 |
| 1000000 | Banco Santander S.A. | 5.13<br> %<br>| 11/06/35 | 975346 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** |
|  | **Banks (Continued)** |  |  |  |
| $1000000 | Barclays PLC (b) | 4.22<br> %<br>| 05/24/30 | $984924 |
| 2000000 | Barclays PLC (b) | 5.37<br> %<br>| 02/25/31 | 2035303 |
| 500000 | BNP Paribas S.A. (b) (c) | 5.09<br> %<br>| 05/09/31 | 504496 |
| 2000000 | Lloyds Banking Group PLC (b) | 4.24<br> %<br>| 02/10/30 | 1978942 |
| 2250000 | Lloyds Banking Group PLC (b) | 5.72<br> %<br>| 06/05/30 | 2323997 |
| 2000000 | Royal Bank of Canada (b) | 5.15<br> %<br>| 02/04/31 | 2033341 |
| 1000000 | Royal Bank of Canada (b) | 4.70<br> %<br>| 08/06/31 | 998152 |
| 1000000 | Toronto-Dominion (The) Bank | 4.81<br> %<br>| 06/03/30 | 1008646 |
| 1000000 | Toronto-Dominion (The) Bank | 4.41<br> %<br>| 01/13/31 | 990891 |
|  |  |  |  | 14820143 |
|  | **Capital Markets – 0.8%** |  |  |  |
| 1000000 | UBS AG (b) | 4.30<br> %<br>| 03/16/29 | 998926 |
| 1000000 | UBS Group AG (b) (c) | 5.62<br> %<br>| 09/13/30 | 1031171 |
| 444000 | UBS Group AG (b) (c) | 4.40<br> %<br>| 09/23/31 | 436006 |
| 1500000 | UBS Group AG (b) (c) | 4.84<br> %<br>| 11/06/33 | 1475921 |
| 2000000 | UBS Group AG (b) (c) | 5.70<br> %<br>| 02/08/35 | 2050899 |
|  |  |  |  | 5992923 |
|  | **Containers & Packaging – 0.3%** |  |  |  |
| 2500000 | Smurfit Kappa Treasury ULC | 5.44<br> %<br>| 04/03/34 | 2538022 |
|  | **Ground Transportation – 0.1%** |  |  |  |
| 1000000 | Canadian Pacific Railway Co. | 5.50<br> %<br>| 03/15/56 | 957958 |
|  | **Hotels, Restaurants & Leisure – 0.3%** |  |  |  |
| 1000000 | Flutter Treasury DAC (c) | 5.88<br> %<br>| 06/04/31 | 991500 |
| 1000000 | Royal Caribbean Cruises Ltd. | 4.75<br> %<br>| 05/15/33 | 965848 |
|  |  |  |  | 1957348 |
|  | **Insurance – 0.3%** |  |  |  |
| 2000000 | Aon Corp./Aon Global Holdings PLC | 5.35<br> %<br>| 02/28/33 | 2049625 |
|  | **Life Sciences Tools & Services – 0.3%** |  |  |  |
| 1250000 | Icon Investments Six DAC | 5.85<br> %<br>| 05/08/29 | 1274753 |
| 1250000 | Icon Investments Six DAC | 6.00<br> %<br>| 05/08/34 | 1267969 |
|  |  |  |  | 2542722 |
|  | **Oil, Gas & Consumable Fuels – 0.7%** |  |  |  |
| 500000 | Enbridge, Inc. | 4.60<br> %<br>| 06/20/28 | 501386 |
| 1500000 | Enbridge, Inc. | 4.20<br> %<br>| 11/20/28 | 1489786 |
| 1000000 | Enbridge, Inc. | 4.50<br> %<br>| 02/15/31 | 989045 |
| 1000000 | Enbridge, Inc. | 4.85<br> %<br>| 03/27/31 | 1004426 |
| 1000000 | Enbridge, Inc. | 5.45<br> %<br>| 03/27/36 | 1008994 |
|  |  |  |  | 4993637 |
|  | **Software – 0.2%** |  |  |  |
| 1125000 | Constellation Software, Inc. (c) | 5.46<br> %<br>| 02/16/34 | 1102562 |
|  | **Textiles, Apparel & Luxury Goods – 0.1%** |  |  |  |
| 500000 | Gildan Activewear, Inc. (c) | 5.40<br> %<br>| 10/07/35 | 487961 |
|  | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | 37442901 |
|  | (Cost $37,508,154) |  |  |  |
| **U.S. GOVERNMENT BONDS AND NOTES – 1.0%** | **U.S. GOVERNMENT BONDS AND NOTES – 1.0%** | **U.S. GOVERNMENT BONDS AND NOTES – 1.0%** | **U.S. GOVERNMENT BONDS AND NOTES – 1.0%** | **U.S. GOVERNMENT BONDS AND NOTES – 1.0%** |
| 3200000 | United States Treasury Note | 3.88<br> %<br>| 03/31/28 | 3204875 |

---

------

**First Trust/Dow Jones Dividend & Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** |
| $2970000 | United States Treasury Note | 3.50<br> %<br>| 03/15/29 | $2943897 |
| 1200000 | United States Treasury Note | 3.88<br> %<br>| 03/31/31 | 1196203 |
|  | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | 7344975 |
|  | (Cost $7,342,392) |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS – 0.4%** | **MONEY MARKET FUNDS – 0.4%** | **MONEY MARKET FUNDS – 0.4%** |
| 2990966 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.53% (d) | 2990966 |
|  | (Cost $2,990,966) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Total Investments – 99.3%** | 722028734 |
| (Cost $704,597,140)  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net Other Assets and Liabilities – 0.7%** | 5381875 |
| **Net Assets – 100.0%** | $727410609 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Fixed-to-floating or fixed-to-variable rate security. The interest rate shown reflects
 the fixed rate in effect at March 31, 2026. At a predetermined date, the fixed rate will change to a floating rate or a variable rate.

&nbsp;&nbsp;&nbsp;&nbsp;(c) This security, sold within the terms of a private placement memorandum, is exempt
 from registration upon resale under Rule 144A of the Securities Act of 1933, as amended, and may be resold in transactions
 exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P., the Fund's advisor. Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific
 factors and assumptions, which require subjective judgment. At March 31, 2026, securities noted as such amounted to $33,671,849
 or 4.6% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Rate shown reflects yield as of March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations throughout the Portfolio of Investments: <br> REITs – Real Estate Investment Trusts

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2026 is as follows (see Valuation Inputs in the Additional Information section):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total**<br> **Value at**<br> **3/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1**<br> **Quoted**<br> **Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2**<br> **Significant**<br> **Observable**<br> **Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>|
| Common Stocks\* | &nbsp;&nbsp; $369766561 | &nbsp;&nbsp;&nbsp;&nbsp; $369766561 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Corporate Bonds and Notes\* | &nbsp;&nbsp; 304483331 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 304483331 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Foreign Corporate Bonds and Notes\* | &nbsp;&nbsp; 37442901 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 37442901 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Government Bonds and Notes | &nbsp;&nbsp; 7344975 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7344975 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Money Market Funds | &nbsp;&nbsp; 2990966 | &nbsp;&nbsp;&nbsp;&nbsp; 2990966 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; $722028734 | &nbsp;&nbsp;&nbsp;&nbsp; $372757527 | &nbsp;&nbsp;&nbsp;&nbsp; $349271207 | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

------

**First Trust Multi Income Allocation Portfolio** 

**Portfolio of Investments** 

**March 31, 2026 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **EXCHANGE-TRADED FUNDS – 48.6%** | **EXCHANGE-TRADED FUNDS – 48.6%** | **EXCHANGE-TRADED FUNDS – 48.6%** |
|  | **Capital Markets – 48.6%** |  |
| 7790 | First Trust AAA CMBS ETF (a) | $158137 |
| 31000 | First Trust Intermediate Government Opportunities ETF (a) | 628599 |
| 18161 | First Trust Limited Duration Investment Grade Corporate ETF (a) | 343969 |
| 86855 | First Trust Preferred Securities and Income ETF (a) | 1541676 |
| 41492 | First Trust Senior Loan Fund (a) | 1858842 |
| 7601 | First Trust Structured Credit Income Opportunities ETF (a) | 156885 |
| 37915 | First Trust Tactical High Yield ETF (a) | 1538212 |
| 167 | iShares 20+ Year Treasury Bond ETF | 14477 |
| 143 | iShares 3-7 Year Treasury Bond ETF | 16960 |
| 4129 | iShares 7-10 Year Treasury Bond ETF | 394072 |
| 9895 | iShares iBoxx $ Investment Grade Corporate Bond ETF | 1078456 |
| 1402 | iShares MBS ETF | 133120 |
|  | **Total Exchange-Traded Funds** | 7863405 |
|  | (Cost $7,946,200) |  |
| **COMMON STOCKS (b) – 38.5%** | **COMMON STOCKS (b) – 38.5%** | **COMMON STOCKS (b) – 38.5%** |
|  | **Aerospace & Defense – 0.5%** |  |
| 112 | Northrop Grumman Corp. | 76411 |
|  | **Automobiles – 0.2%** |  |
| 93 | Ferrari N.V. | 31476 |
|  | **Banks – 0.8%** |  |
| 460 | JPMorgan Chase & Co. | 135314 |
|  | **Beverages – 0.2%** |  |
| 253 | PepsiCo, Inc. | 39288 |
|  | **Biotechnology – 0.3%** |  |
| 210 | AbbVie, Inc. | 45673 |
|  | **Capital Markets – 0.6%** |  |
| 129 | Evercore, Inc., Class A | 38508 |
| 387 | Intercontinental Exchange, Inc. | 60867 |
|  |  | 99375 |
|  | **Construction & Engineering – 0.2%** |  |
| 60 | Quanta Services, Inc. | 32941 |
|  | **Consumer Finance – 0.4%** |  |
| 218 | American Express Co. | 65941 |
|  | **Consumer Staples Distribution & Retail – 0.5%** |  |
| 588 | Walmart, Inc. | 73077 |
|  | **Diversified REITs – 0.6%** |  |
| 1314 | WP Carey, Inc. | 89299 |
|  | **Electric Utilities – 3.2%** |  |
| 566 | Alliant Energy Corp.  | 40616 |
| 310 | American Electric Power Co., Inc. | 40635 |
| 316 | Duke Energy Corp. | 41377 |
| 481 | Entergy Corp. | 54045 |
| 491 | Evergy, Inc. | 40223 |
| 195 | FirstEnergy Corp. | 9879 |
| 210 | IDACORP, Inc. | 30024 |
| 1201 | NextEra Energy, Inc. | 111549 |
| 423 | OGE Energy Corp. | 20287 |
| 534 | PG&E Corp. | 9382 |

---

------

**First Trust Multi Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (b) (Continued)** | **COMMON STOCKS (b) (Continued)** | **COMMON STOCKS (b) (Continued)** |
|  | **Electric Utilities (Continued)** |  |
| 1336 | PPL Corp. | $51035 |
| 433 | Southern (The) Co. | 41793 |
| 248 | Xcel Energy, Inc. | 19701 |
|  |  | 510546 |
|  | **Electrical Equipment – 0.7%** |  |
| 253 | Eaton Corp. PLC | 90490 |
| 126 | Generac Holdings, Inc. (c) | 24612 |
|  |  | 115102 |
|  | **Electronic Equipment, Instruments & Components – 0.3%** |  |
| 269 | TE Connectivity PLC | 56226 |
|  | **Energy Equipment & Services – 0.1%** |  |
| 601 | Archrock, Inc. | 20915 |
|  | **Financial Services – 0.5%** |  |
| 260 | Visa, Inc., Class A | 78582 |
|  | **Gas Utilities – 1.2%** |  |
| 166 | Atmos Energy Corp. | 30663 |
| 68 | Chesapeake Utilities Corp. | 8593 |
| 910 | National Fuel Gas Co. | 85504 |
| 465 | New Jersey Resources Corp. | 25538 |
| 460 | ONE Gas, Inc. | 39620 |
|  |  | 189918 |
|  | **Health Care Equipment & Supplies – 0.4%** |  |
| 274 | Abbott Laboratories | 28132 |
| 457 | Medtronic PLC | 39599 |
|  |  | 67731 |
|  | **Health Care Providers & Services – 0.4%** |  |
| 225 | Cencora, Inc. | 70682 |
|  | **Health Care REITs – 2.8%** |  |
| 2361 | CareTrust REIT, Inc. | 86531 |
| 2015 | Omega Healthcare Investors, Inc. | 88297 |
| 4646 | Sabra Health Care REIT, Inc. | 89343 |
| 1163 | Ventas, Inc. | 95110 |
| 475 | Welltower, Inc. | 93912 |
|  |  | 453193 |
|  | **Hotel & Resort REITs – 1.1%** |  |
| 4848 | Host Hotels & Resorts, Inc. | 92888 |
| 943 | Ryman Hospitality Properties, Inc. | 87010 |
|  |  | 179898 |
|  | **Hotels, Restaurants & Leisure – 0.5%** |  |
| 216 | McDonald's Corp. | 67131 |
| 229 | Starbucks Corp. | 20516 |
|  |  | 87647 |
|  | **Independent Power & Renewable Electricity Producers – 0.3%** |  |
| 1258 | Clearway Energy, Inc., Class A | 49276 |
|  | **Industrial Conglomerates – 0.3%** |  |
| 220 | Honeywell International, Inc. | 49727 |

---

------

**First Trust Multi Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (b) (Continued)** | **COMMON STOCKS (b) (Continued)** | **COMMON STOCKS (b) (Continued)** |
|  | **Industrial REITs – 2.2%** |  |
| 496 | EastGroup Properties, Inc. | $91804 |
| 1562 | First Industrial Realty Trust, Inc. | 90362 |
| 678 | Prologis, Inc. | 89618 |
| 2434 | STAG Industrial, Inc. | 87770 |
|  |  | 359554 |
|  | **Insurance – 0.4%** |  |
| 152 | Brown & Brown, Inc. | 9912 |
| 184 | Chubb Ltd. | 59971 |
|  |  | 69883 |
|  | **IT Services – 0.8%** |  |
| 377 | Accenture PLC, Class A | 74756 |
| 221 | International Business Machines Corp. | 53568 |
|  |  | 128324 |
|  | **Machinery – 1.1%** |  |
| 121 | Caterpillar, Inc. | 85724 |
| 17 | Cummins, Inc. | 9146 |
| 87 | Parker-Hannifin Corp. | 77886 |
|  |  | 172756 |
|  | **Media – 0.3%** |  |
| 702 | Fox Corp., Class A | 40997 |
|  | **Metals & Mining – 0.6%** |  |
| 244 | Franco-Nevada Corp. | 60280 |
| 223 | Nucor Corp. | 37709 |
|  |  | 97989 |
|  | **Multi-Utilities – 2.3%** |  |
| 182 | Ameren Corp. | 20005 |
| 653 | Atco Ltd., Class I (CAD) | 31962 |
| 938 | CenterPoint Energy, Inc. | 40484 |
| 394 | CMS Energy Corp. | 30567 |
| 297 | Dominion Energy, Inc. | 18361 |
| 208 | DTE Energy Co. | 30414 |
| 1392 | Public Service Enterprise Group, Inc. | 112682 |
| 528 | Sempra | 51306 |
| 304 | WEC Energy Group, Inc. | 35194 |
|  |  | 370975 |
|  | **Office REITs – 0.5%** |  |
| 3635 | Cousins Properties, Inc. | 82042 |
|  | **Oil, Gas & Consumable Fuels – 2.6%** |  |
| 133 | Cheniere Energy, Inc. | 37740 |
| 672 | ConocoPhillips | 88704 |
| 123 | DT Midstream, Inc. | 16564 |
| 271 | Enbridge, Inc. | 14672 |
| 463 | Exxon Mobil Corp. | 78553 |
| 536 | Keyera Corp. (CAD) | 20733 |
| 2272 | Kinder Morgan, Inc. | 76180 |
| 351 | ONEOK, Inc. | 31727 |
| 86 | Targa Resources Corp. | 21563 |
| 318 | TC Energy Corp. | 19907 |

---

------

**First Trust Multi Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (b) (Continued)** | **COMMON STOCKS (b) (Continued)** | **COMMON STOCKS (b) (Continued)** |
|  | **Oil, Gas & Consumable Fuels (Continued)** |  |
| 281 | Williams (The) Cos., Inc. | $20451 |
|  |  | 426794 |
|  | **Pharmaceuticals – 0.6%** |  |
| 321 | AstraZeneca PLC | 63307 |
| 265 | Merck & Co., Inc. | 31877 |
|  |  | 95184 |
|  | **Residential REITs – 1.1%** |  |
| 1532 | Equity Residential | 90618 |
| 696 | Mid-America Apartment Communities, Inc. | 84995 |
|  |  | 175613 |
|  | **Retail REITs – 2.4%** |  |
| 3463 | Brixmor Property Group, Inc. | 99734 |
| 4242 | Kimco Realty Corp. | 95318 |
| 1252 | Regency Centers Corp. | 94726 |
| 492 | Simon Property Group, Inc. | 91773 |
|  |  | 381551 |
|  | **Semiconductors & Semiconductor Equipment – 1.1%** |  |
| 234 | Broadcom, Inc. | 72425 |
| 293 | Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 99020 |
|  |  | 171445 |
|  | **Software – 1.6%** |  |
| 306 | Microsoft Corp. | 113272 |
| 336 | Oracle Corp. | 49429 |
| 205 | Roper Technologies, Inc. | 72541 |
| 111 | SAP SE, ADR | 19005 |
|  |  | 254247 |
|  | **Specialized REITs – 3.6%** |  |
| 498 | American Tower Corp. | 85945 |
| 549 | Digital Realty Trust, Inc. | 98935 |
| 111 | Equinix, Inc. | 108807 |
| 2006 | Gaming and Leisure Properties, Inc. | 89006 |
| 1025 | Iron Mountain, Inc. | 104693 |
| 329 | Public Storage | 89120 |
|  |  | 576506 |
|  | **Specialty Retail – 0.6%** |  |
| 616 | TJX (The) Cos., Inc. | 98375 |
|  | **Technology Hardware, Storage & Peripherals – 0.6%** |  |
| 143 | Apple, Inc. | 36292 |
| 418 | Dell Technologies, Inc., Class C | 68606 |
|  |  | 104898 |
|  | **Total Common Stocks** | 6225371 |
|  | (Cost $5,575,541) |  |
| **MASTER LIMITED PARTNERSHIPS – 4.0%** | **MASTER LIMITED PARTNERSHIPS – 4.0%** | **MASTER LIMITED PARTNERSHIPS – 4.0%** |
|  | **Chemicals – 0.1%** |  |
| 655 | Westlake Chemical Partners, L.P. | 14469 |
|  | **Oil, Gas & Consumable Fuels – 3.9%** |  |
| 669 | Cheniere Energy Partners, L.P. | 43237 |

---

------

**First Trust Multi Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MASTER LIMITED PARTNERSHIPS (Continued)** | **MASTER LIMITED PARTNERSHIPS (Continued)** | **MASTER LIMITED PARTNERSHIPS (Continued)** |
|  | **Oil, Gas & Consumable Fuels (Continued)** |  |
| 8716 | Energy Transfer, L.P. | $168219 |
| 4974 | Enterprise Products Partners, L.P. | 188216 |
| 2088 | MPLX, L.P. | 119162 |
| 3344 | Plains GP Holdings, L.P., Class A (d) | 81192 |
| 649 | Sunoco, L.P. | 42166 |
|  |  | 642192 |
|  | **Total Master Limited Partnerships** | 656661 |
|  | (Cost $515,750) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT BONDS AND NOTES – 6.9%** | **U.S. GOVERNMENT BONDS AND NOTES – 6.9%** | **U.S. GOVERNMENT BONDS AND NOTES – 6.9%** | **U.S. GOVERNMENT BONDS AND NOTES – 6.9%** | **U.S. GOVERNMENT BONDS AND NOTES – 6.9%** |
| $10368 | U.S. Treasury Inflation Indexed Bond (e) | 0.13<br> %<br>| 04/15/27 | 10310 |
| 31911 | U.S. Treasury Inflation Indexed Bond (e) | 0.38<br> %<br>| 07/15/27 | 31911 |
| 28547 | U.S. Treasury Inflation Indexed Bond (e) | 1.63<br> %<br>| 10/15/27 | 29000 |
| 32965 | U.S. Treasury Inflation Indexed Bond (e) | 0.50<br> %<br>| 01/15/28 | 32718 |
| 15525 | U.S. Treasury Inflation Indexed Bond (e) | 1.75<br> %<br>| 01/15/28 | 15752 |
| 28193 | U.S. Treasury Inflation Indexed Bond (e) | 1.25<br> %<br>| 04/15/28 | 28311 |
| 20110 | U.S. Treasury Inflation Indexed Bond (e) | 3.63<br> %<br>| 04/15/28 | 21152 |
| 31098 | U.S. Treasury Inflation Indexed Bond (e) | 0.75<br> %<br>| 07/15/28 | 31016 |
| 29733 | U.S. Treasury Inflation Indexed Bond (e) | 2.38<br> %<br>| 10/15/28 | 30791 |
| 30915 | U.S. Treasury Inflation Indexed Bond (e) | 0.88<br> %<br>| 01/15/29 | 30696 |
| 13634 | U.S. Treasury Inflation Indexed Bond (e) | 2.50<br> %<br>| 01/15/29 | 14147 |
| 29443 | U.S. Treasury Inflation Indexed Bond (e) | 2.13<br> %<br>| 04/15/29 | 30236 |
| 23742 | U.S. Treasury Inflation Indexed Bond (e) | 3.88<br> %<br>| 04/15/29 | 25620 |
| 33060 | U.S. Treasury Inflation Indexed Bond (e) | 0.25<br> %<br>| 07/15/29 | 32163 |
| 32044 | U.S. Treasury Inflation Indexed Bond (e) | 1.63<br> %<br>| 10/15/29 | 32561 |
| 34133 | U.S. Treasury Inflation Indexed Bond (e) | 0.13<br> %<br>| 01/15/30 | 32679 |
| 34739 | U.S. Treasury Inflation Indexed Bond (e) | 1.63<br> %<br>| 04/15/30 | 35099 |
| 35520 | U.S. Treasury Inflation Indexed Bond (e) | 0.13<br> %<br>| 07/15/30 | 33822 |
| 36199 | U.S. Treasury Inflation Indexed Bond (e) | 1.13<br> %<br>| 10/15/30 | 35886 |
| 34985 | U.S. Treasury Inflation Indexed Bond (e) | 0.13<br> %<br>| 01/15/31 | 32902 |
| 36406 | U.S. Treasury Inflation Indexed Bond (e) | 0.13<br> %<br>| 07/15/31 | 34026 |
| 38720 | U.S. Treasury Inflation Indexed Bond (e) | 0.13<br> %<br>| 01/15/32 | 35647 |
| 7330 | U.S. Treasury Inflation Indexed Bond (e) | 3.38<br> %<br>| 04/15/32 | 8090 |
| 33583 | U.S. Treasury Inflation Indexed Bond (e) | 0.63<br> %<br>| 07/15/32 | 31697 |
| 34941 | U.S. Treasury Inflation Indexed Bond (e) | 1.13<br> %<br>| 01/15/33 | 33665 |
| 33199 | U.S. Treasury Inflation Indexed Bond (e) | 1.38<br> %<br>| 07/15/33 | 32465 |
| 34918 | U.S. Treasury Inflation Indexed Bond (e) | 1.75<br> %<br>| 01/15/34 | 34784 |
| 36279 | U.S. Treasury Inflation Indexed Bond (e) | 1.88<br> %<br>| 07/15/34 | 36471 |
| 39164 | U.S. Treasury Inflation Indexed Bond (e) | 2.13<br> %<br>| 01/15/35 | 39838 |
| 40518 | U.S. Treasury Inflation Indexed Bond (e) | 1.88<br> %<br>| 07/15/35 | 40332 |
| 14014 | U.S. Treasury Inflation Indexed Bond (e) | 1.88<br> %<br>| 01/15/36 | 13850 |
| 15048 | U.S. Treasury Inflation Indexed Bond (e) | 2.13<br> %<br>| 02/15/40 | 14742 |
| 23467 | U.S. Treasury Inflation Indexed Bond (e) | 2.13<br> %<br>| 02/15/41 | 22729 |
| 21303 | U.S. Treasury Inflation Indexed Bond (e) | 0.75<br> %<br>| 02/15/42 | 16430 |
| 20654 | U.S. Treasury Inflation Indexed Bond (e) | 0.63<br> %<br>| 02/15/43 | 15233 |
| 20655 | U.S. Treasury Inflation Indexed Bond (e) | 1.38<br> %<br>| 02/15/44 | 17083 |
| 21133 | U.S. Treasury Inflation Indexed Bond (e) | 0.75<br> %<br>| 02/15/45 | 15199 |
| 17845 | U.S. Treasury Inflation Indexed Bond (e) | 1.00<br> %<br>| 02/15/46 | 13250 |
| 16169 | U.S. Treasury Inflation Indexed Bond (e) | 0.88<br> %<br>| 02/15/47 | 11480 |
| 15827 | U.S. Treasury Inflation Indexed Bond (e) | 1.00<br> %<br>| 02/15/48 | 11380 |
| 12925 | U.S. Treasury Inflation Indexed Bond (e) | 1.00<br> %<br>| 02/15/49 | 9160 |
| 12651 | U.S. Treasury Inflation Indexed Bond (e) | 0.25<br> %<br>| 02/15/50 | 7170 |

---

------

**First Trust Multi Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** |
| $13742 | U.S. Treasury Inflation Indexed Bond (e) | 0.13<br> %<br>| 02/15/51 | $7318 |
| 15189 | U.S. Treasury Inflation Indexed Bond (e) | 0.13<br> %<br>| 02/15/52 | 7895 |
| 13130 | U.S. Treasury Inflation Indexed Bond (e) | 1.50<br> %<br>| 02/15/53 | 10076 |
| 11658 | U.S. Treasury Inflation Indexed Bond (e) | 2.13<br> %<br>| 02/15/54 | 10290 |
| 12369 | U.S. Treasury Inflation Indexed Bond (e) | 2.38<br> %<br>| 02/15/55 | 11508 |
| 6022 | U.S. Treasury Inflation Indexed Bond (e) | 2.38<br> %<br>| 02/15/56 | 5598 |
|  | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | 1114178 |
|  | (Cost $1,116,863) |  |  |  |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES – 0.0%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES – 0.0%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES – 0.0%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES – 0.0%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES – 0.0%** |
|  | **Collateralized Mortgage Obligations – 0.0%** |  |  |  |
|  | Fannie Mae REMICS  |  |  |  |
| 133 | &nbsp;&nbsp; Series 1999-56, Class Z | 7.00<br> %<br>| 12/01/29 | 135 |
|  | Freddie Mac REMICS  |  |  |  |
| 0 | &nbsp;&nbsp; Series 1996-1847, Class LL | 7.50<br> %<br>| 04/01/26 | 0 |
| 309 | &nbsp;&nbsp; Series 1999-2130, Class KB | 6.38<br> %<br>| 03/01/29 | 313 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 448 |
|  | (Cost $447) |  |  |  |
| **MORTGAGE-BACKED SECURITIES – 0.0%** | **MORTGAGE-BACKED SECURITIES – 0.0%** | **MORTGAGE-BACKED SECURITIES – 0.0%** | **MORTGAGE-BACKED SECURITIES – 0.0%** | **MORTGAGE-BACKED SECURITIES – 0.0%** |
|  | **Collateralized Mortgage Obligations – 0.0%** |  |  |  |
|  | Credit Suisse First Boston Mortgage Securities Corp.  |  |  |  |
| 299 | &nbsp;&nbsp; Series 2004-6, Class 2A1 (f) | 4.75<br> %<br>| 09/01/27 | 0 |
|  | (Cost $299) |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS – 2.1%** | **MONEY MARKET FUNDS – 2.1%** | **MONEY MARKET FUNDS – 2.1%** |
| 339447 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.53% (g) | 339447 |
|  | (Cost $339,447) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Total Investments – 100.1%** | 16199510 |
| (Cost $15,494,547)  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net Other Assets and Liabilities – (0.1)%** | (18102)<br>|
| **Net Assets – 100.0%** | $16181408 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Investment in an affiliated fund.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities are issued in U.S. dollars unless otherwise indicated in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) This security is taxed as a "C" corporation for federal income tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Security whose principal value is adjusted in accordance with changes to the country's Consumer Price Index. Interest is calculated on the basis of the current adjusted principal value.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be illiquid by First Trust Advisors L.P., the Fund's advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Rate shown reflects yield as of March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| CAD | – Canadian Dollar |
| REITs | – Real Estate Investment Trusts |
| REMICS | – Real Estate Mortgage Investment Conduit |

---

------

**First Trust Multi Income Allocation Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2026 is as follows (see Valuation Inputs in the Additional Information section):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total**<br> **Value at**<br> **3/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1**<br> **Quoted**<br> **Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2**<br> **Significant**<br> **Observable**<br> **Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>|
| Exchange-Traded Funds\* | &nbsp;&nbsp; $7863405 | &nbsp;&nbsp;&nbsp;&nbsp; $7863405 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Common Stocks\* | &nbsp;&nbsp; 6225371 | &nbsp;&nbsp;&nbsp;&nbsp; 6225371 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Master Limited Partnerships\* | &nbsp;&nbsp; 656661 | &nbsp;&nbsp;&nbsp;&nbsp; 656661 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Government Bonds and Notes | &nbsp;&nbsp; 1114178 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1114178 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Government Agency Mortgage-Backed Securities | &nbsp;&nbsp; 448 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 448 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Mortgage-Backed Securities | &nbsp;&nbsp; —<br> \*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp; — |
| Money Market Funds | &nbsp;&nbsp; 339447 | &nbsp;&nbsp;&nbsp;&nbsp; 339447 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; $16199510 | &nbsp;&nbsp;&nbsp;&nbsp; $15084884 | &nbsp;&nbsp;&nbsp;&nbsp; $1114626 | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| \* See Portfolio of Investments for industry breakout. |
| \*\* Investment is valued at $0. |

---

------

**Affiliated Transactions**

Amounts relating to investments in affiliated funds at March 31, 2026, and for the fiscal year-to-date period (January 1, 2026 to March 31, 2026) are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Name** | **Shares at**<br> **3/31/2026**<br>| **Value at**<br> **12/31/2025**<br>| **Purchases** | **Sales** | **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value at**<br> **3/31/2026**<br>| **Dividend**<br> **Income**<br>|
| First Trust AAA CMBS ETF | 7790<br>| $159695<br>| $—<br>| $—<br>| $(1558)<br>| $—<br>| $158137<br>| $1831<br>|
| &nbsp;&nbsp; First Trust Intermediate Government <br> Opportunities ETF<br>| 31000<br>| 634725<br>| —<br>| —<br>| (6126)<br>| —<br>| 628599<br>| 7905<br>|
| &nbsp;&nbsp; First Trust Limited Duration Investment Grade <br> Corporate ETF<br>| 18161<br>| 305658<br>| 50146<br>| (7488)<br>| (4335)<br>| (12)<br>| 343969<br>| 3725<br>|
| &nbsp;&nbsp; First Trust Preferred Securities and Income <br> ETF<br>| 86855<br>| 1387635<br>| 217309<br>| (18918)<br>| (44095)<br>| (255)<br>| 1541676<br>| 21871<br>|
| First Trust Senior Loan Fund | 41492<br>| 1846808<br>| 97652<br>| (40797)<br>| (44618)<br>| (203)<br>| 1858842<br>| 29649<br>|
| &nbsp;&nbsp; First Trust Structured Credit Income <br> Opportunities ETF<br>| 7601<br>| 158101<br>| —<br>| —<br>| (1216)<br>| —<br>| 156885<br>| 2166<br>|
| First Trust Tactical High Yield ETF | 37915<br>| 1377236<br>| 230275<br>| (20080)<br>| (49863)<br>| 644<br>| 1538212<br>| 25944<br>|
|  |  | $5869858<br>| $595382<br>| $(87283)<br>| $(151811)<br>| $174<br>| $6226320<br>| $93091<br>|

---

------

**First Trust Dorsey Wright Tactical Core Portfolio** 

**Portfolio of Investments** 

**March 31, 2026 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **EXCHANGE-TRADED FUNDS – 99.0%** | **EXCHANGE-TRADED FUNDS – 99.0%** | **EXCHANGE-TRADED FUNDS – 99.0%** |
|  | **Capital Markets – 99.0%** |  |
| 43290 | First Trust China AlphaDEX<sup>®</sup> Fund (a) | $1356709 |
| 39009 | First Trust Developed Markets ex-US AlphaDEX<sup>®</sup> Fund (a) | 3391045 |
| 116929 | First Trust Emerging Markets AlphaDEX<sup>®</sup> Fund (a) | 3502456 |
| 145000 | First Trust Energy AlphaDEX<sup>®</sup> Fund (a) | 3256700 |
| 23935 | First Trust Europe AlphaDEX<sup>®</sup> Fund (a) | 1307090 |
| 21041 | First Trust Eurozone AlphaDEX<sup>®</sup> ETF (a) | 1310223 |
| 20418 | First Trust Germany AlphaDEX<sup>®</sup> Fund (a) | 1225445 |
| 74139 | First Trust Indxx Aerospace & Defense ETF (a) | 3314755 |
| 32731 | First Trust Large Cap Core AlphaDEX<sup>®</sup> Fund (a) | 3990816 |
| 25056 | First Trust Large Cap Growth AlphaDEX<sup>®</sup> Fund (a) | 3862197 |
| 30299 | First Trust Mid Cap Core AlphaDEX<sup>®</sup> Fund (a) | 3885622 |
| 23911 | First Trust Nasdaq Semiconductor ETF (a) | 3526155 |
| 80957 | First Trust Nasdaq Transportation ETF (a) | 3085271 |
| 17172 | First Trust NYSE<sup>®</sup> Arca<sup>®</sup> Biotechnology Index Fund (a) (b) | 3448481 |
| 25491 | First Trust United Kingdom AlphaDEX<sup>®</sup> Fund (a) | 1283765 |
| 33388 | iShares Core U.S. Aggregate Bond ETF | 3314427 |
| 47605 | State Street Blackstone Senior Loan ETF | 1910865 |
| 19853 | State Street SPDR Bloomberg Convertible Securities ETF | 1816947 |
| 89650 | State Street SPDR Bloomberg Emerging Markets Local Bond ETF | 1850376 |
| 19959 | State Street SPDR Bloomberg High Yield Bond ETF | 1910475 |
|  | **Total Exchange-Traded Funds** | 52549820 |
|  | (Cost $50,356,806) |  |
| **MONEY MARKET FUNDS – 0.9%** | **MONEY MARKET FUNDS – 0.9%** | **MONEY MARKET FUNDS – 0.9%** |
| 445680 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.53% (c) | 445680 |
|  | (Cost $445,680) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Total Investments – 99.9%** | 52995500 |
| (Cost $50,802,486)  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net Other Assets and Liabilities – 0.1%** | 64057 |
| **Net Assets – 100.0%** | $53059557 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Investment in an affiliated fund.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Rate shown reflects yield as of March 31, 2026.

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2026 is as follows (see Valuation Inputs in the Additional Information section):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total**<br> **Value at**<br> **3/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1**<br> **Quoted**<br> **Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2**<br> **Significant**<br> **Observable**<br> **Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>|
| Exchange-Traded Funds\* | &nbsp;&nbsp; $52549820 | &nbsp;&nbsp;&nbsp;&nbsp; $52549820 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Money Market Funds | &nbsp;&nbsp; 445680 | &nbsp;&nbsp;&nbsp;&nbsp; 445680 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; $52995500 | &nbsp;&nbsp;&nbsp;&nbsp; $52995500 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

------

**First Trust Dorsey Wright Tactical Core Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

------

**Affiliated Transactions**

Amounts relating to investments in affiliated funds at March 31, 2026, and for the fiscal year-to-date period (January 1, 2026 to March 31, 2026) are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Name** | **Shares at**<br> **3/31/2026**<br>| **Value at**<br> **12/31/2025**<br>| **Purchases** | **Sales** | **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value at**<br> **3/31/2026**<br>| **Dividend**<br> **Income**<br>|
| First Trust China AlphaDEX<sup>®</sup> Fund | 43290<br>| $334491<br>| $1114368<br>| $(88816)<br>| $(34230)<br>| $30896<br>| $1356709<br>| $—<br>|
| &nbsp;&nbsp; First Trust Developed Markets <br> ex-US AlphaDEX<sup>®</sup> Fund<br>| 39009<br>| 864298<br>| 2760776<br>| (216715)<br>| (107745)<br>| 90431<br>| 3391045<br>| 12734<br>|
| &nbsp;&nbsp; First Trust Dow Jones Internet <br> Index Fund<br>| —<br>| 5342685<br>| —<br>| (4873585)<br>| (1944579)<br>| 1475479<br>| —<br>| —<br>|
| &nbsp;&nbsp; First Trust Emerging Markets <br> AlphaDEX<sup>®</sup> Fund<br>| 116929<br>| 732050<br>| 2774700<br>| (81614)<br>| 53410<br>| 23910<br>| 3502456<br>| 3905<br>|
| &nbsp;&nbsp; First Trust Energy AlphaDEX<sup>®</sup> <br> Fund<br>| 145000<br>| —<br>| 3362550<br>| —<br>| (105850)<br>| —<br>| 3256700<br>| —<br>|
| &nbsp;&nbsp; First Trust Europe AlphaDEX<sup>®</sup> <br> Fund<br>| 23935<br>| 263236<br>| 1107919<br>| (7838)<br>| (57000)<br>| 773<br>| 1307090<br>| 1824<br>|
| &nbsp;&nbsp; First Trust Eurozone AlphaDEX<sup>®</sup> <br> ETF<br>| 21041<br>| 341929<br>| 1104421<br>| (77782)<br>| (76457)<br>| 18112<br>| 1310223<br>| 288<br>|
| &nbsp;&nbsp; First Trust Financials AlphaDEX<sup>®</sup> <br> Fund<br>| —<br>| 4604826<br>| 289209<br>| (4840664)<br>| (337725)<br>| 284354<br>| —<br>| —<br>|
| &nbsp;&nbsp; First Trust Germany AlphaDEX<sup>®</sup> <br> Fund<br>| 20418<br>| 273703<br>| 1113511<br>| (11348)<br>| (152704)<br>| 2283<br>| 1225445<br>| —<br>|
| &nbsp;&nbsp; First Trust Indxx Aerospace & <br> Defense ETF<br>| 74139<br>| 4748535<br>| —<br>| (1795749)<br>| 112143<br>| 249826<br>| 3314755<br>| 2120<br>|
| &nbsp;&nbsp; First Trust Large Cap Core <br> AlphaDEX<sup>®</sup> Fund<br>| 32731<br>| 5591586<br>| —<br>| (1815435)<br>| (493295)<br>| 707960<br>| 3990816<br>| 9629<br>|
| &nbsp;&nbsp; First Trust Large Cap Growth <br> AlphaDEX<sup>®</sup> Fund<br>| 25056<br>| 5850190<br>| —<br>| (1881821)<br>| (857537)<br>| 751365<br>| 3862197<br>| 1521<br>|
| &nbsp;&nbsp; First Trust Mid Cap Core <br> AlphaDEX<sup>®</sup> Fund<br>| 30299 |  | 4121454 |  | (235832)<br>|  | 3885622 | 9517 |
| &nbsp;&nbsp; First Trust Mid Cap Growth <br> AlphaDEX<sup>®</sup> Fund<br>|  | 5364852 |  | (5712951)<br>| (528484)<br>| 876583 |  |  |
| First Trust Nasdaq Bank ETF | —<br>| —<br>| 3404302<br>| (3196343)<br>| —<br>| (207959)<br>| —<br>| 6733<br>|
| &nbsp;&nbsp; First Trust Nasdaq Semiconductor <br> ETF<br>| 23911<br>| 4297832<br>| 249078<br>| (1697407)<br>| 304026<br>| 372626<br>| 3526155<br>| 313<br>|
| &nbsp;&nbsp; First Trust Nasdaq Transportation <br> ETF<br>| 80957<br>| —<br>| 3417195<br>| —<br>| (331924)<br>| —<br>| 3085271<br>| 2769<br>|
| &nbsp;&nbsp; First Trust NYSE<sup>®</sup> Arca<sup>®</sup> <br> Biotechnology Index Fund<br>| 17172<br>| —<br>| 5279385<br>| (1467495)<br>| (316995)<br>| (46414)<br>| 3448481<br>| —<br>|
| &nbsp;&nbsp; First Trust United Kingdom <br> AlphaDEX<sup>®</sup> Fund<br>| 25491<br>| 311259<br>| 1111748<br>| (47628)<br>| (107211)<br>| 15597<br>| 1283765<br>| 4000<br>|
| &nbsp;&nbsp; First Trust Utilities AlphaDEX<sup>®</sup> <br> Fund<br>| —<br>| 4744774<br>| 258620<br>| (5095483)<br>| (454479)<br>| 546568<br>| —<br>| —<br>|
|  |  | $43666246<br>| $31469236<br>| $(32908674)<br>| $(5672468)<br>| $5192390<br>| $41746730<br>| $55353<br>|

---

------

**First Trust Capital Strength**<sup>®</sup> **Portfolio** 

**Portfolio of Investments** 

**March 31, 2026 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value** |
| **COMMON STOCKS – 97.7%**  | **COMMON STOCKS – 97.7%**  | **COMMON STOCKS – 97.7%**  |
|  | **Aerospace & Defense – 6.0%** |  |
| 10578 | General Dynamics Corp.  | $3630581 |
| 6708 | Lockheed Martin Corp.  | 4054248 |
| 5844 | Northrop Grumman Corp.  | 3987011 |
|  |  | 11671840 |
|  | **Beverages – 6.2%** |  |
| 55347 | Coca-Cola (The) Co.  | 4209139 |
| 50024 | Monster Beverage Corp. (a) | 3624739 |
| 26741 | PepsiCo, Inc.  | 4152610 |
|  |  | 11986488 |
|  | **Biotechnology – 4.3%** |  |
| 18157 | AbbVie, Inc.  | 3948966 |
| 31451 | Gilead Sciences, Inc.  | 4383326 |
|  |  | 8332292 |
|  | **Building Products – 2.2%** |  |
| 10024 | Trane Technologies PLC  | 4177402 |
|  | **Capital Markets – 10.7%** |  |
| 7632 | Ameriprise Financial, Inc.  | 3391661 |
| 14165 | Cboe Global Markets, Inc.  | 3981356 |
| 37335 | Charles Schwab (The) Corp.  | 3508743 |
| 7235 | Moody's Corp.  | 3156269 |
| 22665 | Raymond James Financial, Inc.  | 3281665 |
| 36554 | T. Rowe Price Group, Inc.  | 3294978 |
|  |  | 20614672 |
|  | **Chemicals – 6.2%** |  |
| 14111 | Ecolab, Inc.  | 3753808 |
| 8918 | Linde PLC  | 4421188 |
| 35524 | PPG Industries, Inc.  | 3796805 |
|  |  | 11971801 |
|  | **Commercial Services &** <br> **Supplies – 3.4%**<br>|  |
| 95390 | Copart, Inc. (a) | 3166948 |
| 37956 | Veralto Corp.  | 3356070 |
|  |  | 6523018 |
|  | **Communications Equipment –** <br> **2.1%**<br>|  |
| 51917 | Cisco Systems, Inc.  | 4028240 |
|  | **Consumer Staples** <br> **Distribution & Retail – 4.2%**<br>|  |
| 4086 | Costco Wholesale Corp.  | 4071413 |
| 33202 | Walmart, Inc.  | 4126345 |
|  |  | 8197758 |
|  | **Financial Services – 3.7%** |  |
| 7211 | Mastercard, Inc., Class A  | 3603048 |
| 11888 | Visa, Inc., Class A  | 3593029 |
|  |  | 7196077 |

---

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value** |
|  | **Food Products – 2.1%** |  |
| 19805 | Hershey (The) Co.  | $4117261 |
|  | **Health Care Equipment &** <br> **Supplies – 3.4%**<br>|  |
| 31901 | Abbott Laboratories  | 3275276 |
| 15080 | ResMed, Inc.  | 3385158 |
|  |  | 6660434 |
|  | **Health Care Providers &** <br> **Services – 1.8%**<br>|  |
| 11007 | Cencora, Inc.  | 3457739 |
|  | **Household Durables – 1.8%** |  |
| 522 | NVR, Inc. (a) | 3439891 |
|  | **Household Products – 4.1%** |  |
| 46347 | Colgate-Palmolive Co.  | 3950155 |
| 27109 | Procter & Gamble (The) Co.  | 3915624 |
|  |  | 7865779 |
|  | **Industrial Conglomerates –** <br> **2.1%**<br>|  |
| 17798 | Honeywell International, Inc.  | 4022882 |
|  | **Insurance – 8.0%** |  |
| 35585 | Aflac, Inc.  | 3904030 |
| 43275 | Arch Capital Group Ltd. (a) | 4153967 |
| 21419 | Marsh & McLennan Cos., Inc.  | 3715126 |
| 57092 | W.R. Berkley Corp.  | 3784058 |
|  |  | 15557181 |
|  | **IT Services – 1.4%** |  |
| 13568 | Accenture PLC, Class A  | 2690399 |
|  | **Machinery – 4.1%** |  |
| 18939 | Dover Corp.  | 3947835 |
| 10811 | Snap-on, Inc.  | 3926771 |
|  |  | 7874606 |
|  | **Oil, Gas & Consumable Fuels –** <br> **2.8%**<br>|  |
| 37333 | EOG Resources, Inc.  | 5397232 |
|  | **Pharmaceuticals – 2.3%** |  |
| 17885 | Johnson & Johnson  | 4371809 |
|  | **Professional Services – 3.3%** |  |
| 15014 | Automatic Data Processing, Inc.  | 3050544 |
| 35290 | Paychex, Inc.  | 3250915 |
|  |  | 6301459 |
|  | **Software – 3.4%** |  |
| 14799 | Autodesk, Inc. (a) | 3542881 |
| 8442 | Microsoft Corp.  | 3124975 |
|  |  | 6667856 |
|  | **Specialty Retail – 6.1%** |  |
| 10292 | Home Depot (The), Inc.  | 3384936 |
| 20252 | Ross Stores, Inc.  | 4387191 |

---

------

**First Trust Capital Strength**<sup>®</sup> **Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Specialty Retail (Continued)** |  |
| 24788 | TJX (The) Cos., Inc.  | $3958643 |
|  |  | 11730770 |
|  | **Technology Hardware,** <br> **Storage & Peripherals – 2.0%**<br>|  |
| 15233 | Apple, Inc.  | 3865983 |
|  | **Total Common Stocks** | 188720869 |
|  | (Cost $179,080,606) |  |
| **MONEY MARKET FUNDS – 2.4%** | **MONEY MARKET FUNDS – 2.4%** | **MONEY MARKET FUNDS – 2.4%** |
| 4513415 | &nbsp;&nbsp; Morgan Stanley Institutional <br> Liquidity Funds - Treasury <br> Portfolio - Institutional Class - <br> 3.53% (b)<br>| 4513415 |
|  | (Cost $4,513,415) |  |
|  | **Total Investments – 100.1%** | 193234284 |
|  | (Cost $183,594,021)  |  |
|  | **Net Other Assets and** <br> **Liabilities – (0.1)%**<br>| (128331)<br>|
|  | **Net Assets – 100.0%** | $193105953 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Rate shown reflects yield as of March 31, 2026.

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2026 is as follows (see Valuation Inputs in the Additional Information section):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total**<br> **Value at**<br> **3/31/2026**<br>| **Level 1**<br> **Quoted**<br> **Prices**<br>| **Level 2**<br> **Significant**<br> **Observable**<br> **Inputs**<br>| **Level 3**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>|
| Common Stocks\* | $188720869 | &nbsp;&nbsp; $188720869 | $— | $— |
| Money Market <br> Funds<br>| 4513415 | &nbsp;&nbsp; 4513415 |  |  |
| Total Investments | $193234284 | &nbsp;&nbsp; $193234284 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

------

**First Trust International Developed Capital Strength**<sup>®</sup> **Portfolio** 

**Portfolio of Investments** 

**March 31, 2026 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value** |
| **COMMON STOCKS (a) – 95.9%**  | **COMMON STOCKS (a) – 95.9%**  | **COMMON STOCKS (a) – 95.9%**  |
|  | **Aerospace & Defense – 1.8%** |  |
| 2039 | Safran S.A. (EUR) (b) | $667221 |
|  | **Banks – 4.4%** |  |
| 4859 | Royal Bank of Canada (CAD)  | 785488 |
| 8937 | &nbsp;&nbsp; Toronto-Dominion Bank (The) <br> (CAD) <br>| 834659 |
|  |  | 1620147 |
|  | **Beverages – 2.3%** |  |
| 14832 | Coca-Cola HBC AG (GBP) (b) | 835475 |
|  | **Broadline Retail – 3.7%** |  |
| 3990 | Next PLC (GBP) (b) | 674106 |
| 113500 | &nbsp;&nbsp; Pan Pacific International <br> Holdings Corp. (JPY) (b)<br>| 692379 |
|  |  | 1366485 |
|  | **Capital Markets – 7.6%** |  |
| 12346 | 3i Group PLC (GBP) (b) | 402369 |
| 2723 | Deutsche Boerse AG (EUR) (b) | 797690 |
| 4839 | Euronext N.V. (EUR) (b) (c) (d) | 777056 |
| 54600 | &nbsp;&nbsp; Singapore Exchange Ltd. <br> (SGD) (b)<br>| 832930 |
|  |  | 2810045 |
|  | **Chemicals – 1.4%** |  |
| 3199 | Sika AG (CHF) (b) | 529493 |
|  | **Construction & Engineering –** <br> **2.0%**<br>|  |
| 11228 | Ferrovial SE (EUR) (b) | 730454 |
|  | **Consumer Staples** <br> **Distribution & Retail – 2.1%**<br>|  |
| 16772 | Loblaw Cos. Ltd. (CAD)  | 764632 |
|  | **Diversified Telecommunication** <br> **Services – 2.3%**<br>|  |
| 217400 | &nbsp;&nbsp; Singapore Telecommunications <br> Ltd. (SGD) (b)<br>| 837082 |
|  | **Entertainment – 1.3%** |  |
| 25652 | &nbsp;&nbsp; Universal Music Group N.V. <br> (EUR) (b)<br>| 497926 |
|  | **Financial Services – 1.9%** |  |
| 30368 | &nbsp;&nbsp; Poste Italiane S.p.A. <br> (EUR) (b) (c) (d)<br>| 714825 |
|  | **Food Products – 1.7%** |  |
| 6599 | Nestle S.A. (CHF) (b) | 647303 |
|  | **Health Care Equipment &** <br> **Supplies – 1.6%**<br>|  |
| 2575 | Sonova Holding AG (CHF) (b) | 587135 |

---

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value** |
|  | **Hotels, Restaurants &** <br> **Leisure – 4.4%**<br>|  |
| 9017 | &nbsp;&nbsp; Amadeus IT Group S.A. <br> (EUR) (b)<br>| $515599 |
| 16828 | &nbsp;&nbsp; Aristocrat Leisure Ltd. <br> (AUD) (b)<br>| 534883 |
| 20790 | Compass Group PLC (GBP) (b) | 580060 |
|  |  | 1630542 |
|  | **Household Products – 1.6%** |  |
| 8911 | &nbsp;&nbsp; Reckitt Benckiser Group PLC <br> (GBP) (b)<br>| 599179 |
|  | **Insurance – 15.6%** |  |
| 1741 | Allianz SE (EUR) (b) | 735257 |
| 17179 | Great-West Lifeco, Inc. (CAD)  | 804552 |
| 2420 | Hannover Rueck SE (EUR) (b) | 760850 |
| 1117 | &nbsp;&nbsp; Muenchener <br> Rueckversicherungs-<br> Gesellschaft AG (EUR) (b)<br>| 705431 |
| 53201 | Prudential PLC (GBP) (b) | 739660 |
| 62892 | Sampo Oyj, Class A (EUR) (b) | 672335 |
| 3857 | Swiss Re AG (CHF) (b) | 647888 |
| 1008 | &nbsp;&nbsp; Zurich Insurance Group AG <br> (CHF) (b)<br>| 712473 |
|  |  | 5778446 |
|  | **IT Services – 3.0%** |  |
| 8134 | CGI, Inc. (CAD)  | 594657 |
| 21900 | Obic Co., Ltd. (JPY)  | 531545 |
|  |  | 1126202 |
|  | **Machinery – 5.7%** |  |
| 14903 | Alfa Laval AB (SEK) (b) | 815194 |
| 10814 | Kone Oyj, Class B (EUR) (b) | 690374 |
| 1877 | Schindler Holding AG (CHF) (b) | 618270 |
|  |  | 2123838 |
|  | **Metals & Mining – 5.1%** |  |
| 24980 | BHP Group Ltd. (AUD) (b) | 903839 |
| 10444 | Rio Tinto PLC (GBP) (b) | 968929 |
|  |  | 1872768 |
|  | **Oil, Gas & Consumable Fuels –** <br> **2.9%**<br>|  |
| 8331 | Imperial Oil Ltd. (CAD)  | 1091217 |
|  | **Personal Care Products – 3.3%** |  |
| 1550 | L'Oreal S.A. (EUR) (b) | 632850 |
| 10598 | Unilever PLC (GBP) (b) | 581824 |
|  |  | 1214674 |
|  | **Pharmaceuticals – 9.0%** |  |
| 4200 | AstraZeneca PLC (GBP) (b) | 821268 |
| 32458 | GSK PLC (GBP) (b) | 894071 |
| 5371 | Novartis AG (CHF) (b) | 824419 |

---

------

**First Trust International Developed Capital Strength**<sup>®</sup> **Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value** |
| **COMMON STOCKS (a) (Continued)** | **COMMON STOCKS (a) (Continued)** | **COMMON STOCKS (a) (Continued)** |
|  | **Pharmaceuticals (Continued)** |  |
| 1973 | Roche Holding AG (CHF) (b) | $787406 |
|  |  | 3327164 |
|  | **Professional Services – 3.6%** |  |
| 22159 | Bureau Veritas S.A. (EUR) (b) | 663250 |
| 6396 | SGS S.A. (CHF) (b) | 674068 |
|  |  | 1337318 |
|  | **Software – 1.4%** |  |
| 46676 | &nbsp;&nbsp; Sage Group (The) PLC <br> (GBP) (b)<br>| 523023 |
|  | **Specialty Retail – 2.0%** |  |
| 12684 | &nbsp;&nbsp; Industria de Diseno Textil S.A. <br> (EUR) (b)<br>| 738320 |
|  | **Trading Companies &** <br> **Distributors – 2.2%**<br>|  |
| 63600 | ITOCHU Corp. (JPY) (b) | 809023 |
|  | **Transportation Infrastructure –** <br> **2.0%**<br>|  |
| 25480 | &nbsp;&nbsp; Aena SME S.A. <br> (EUR) (b) (c) (d)<br>| 753836 |
|  | **Total Common Stocks** | 35533773 |
|  | (Cost $33,141,801) |  |
| **WARRANTS (a) – 0.0%**  | **WARRANTS (a) – 0.0%**  | **WARRANTS (a) – 0.0%**  |
|  | **Software – 0.0%** |  |
| 92 | &nbsp;&nbsp; Constellation Software, Inc. <br> (CAD) (b) (e) (f) (g)<br>| 0 |
|  | (Cost $0) |  |
| **MONEY MARKET FUNDS – 3.7%** | **MONEY MARKET FUNDS – 3.7%** | **MONEY MARKET FUNDS – 3.7%** |
| 1378174 | &nbsp;&nbsp; Morgan Stanley Institutional <br> Liquidity Funds - Treasury <br> Portfolio - Institutional Class - <br> 3.53% (h)<br>| 1378174 |
|  | (Cost $1,378,174) |  |
|  | **Total Investments – 99.6%** | 36911947 |
|  | (Cost $34,519,975)  |  |
|  | **Net Other Assets and** <br> **Liabilities – 0.4%**<br>| 132273 |
|  | **Net Assets – 100.0%** | $37044220 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Securities are issued in U.S. dollars unless otherwise indicated in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(b) This security is fair valued by the Advisor's Pricing Committee in accordance with procedures approved by the Trust's Board of Trustees and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At March 31, 2026, securities noted as such are valued at $30,127,023 or 81.3% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets' close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(c) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the "1933 Act").

&nbsp;&nbsp;&nbsp;&nbsp;(d) This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be illiquid by First Trust Advisors L.P., the Fund's advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(g) This security's value was determined using significant unobservable inputs. (see Valuation Inputs section).

&nbsp;&nbsp;&nbsp;&nbsp;(h) Rate shown reflects yield as of March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| AUD | – Australian Dollar |
| CAD | – Canadian Dollar |
| CHF | – Swiss Franc |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| JPY | – Japanese Yen |
| SEK | – Swedish Krona |
| SGD | – Singapore Dollar |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure**<br> **Diversification**<br>| **% of Total**<br> **Investments**<br>|
| EUR | &nbsp;&nbsp; 30.0% |
| GBP | &nbsp;&nbsp; 20.7 |
| CHF | &nbsp;&nbsp; 16.3 |
| CAD | &nbsp;&nbsp; 13.2 |
| JPY | &nbsp;&nbsp;&nbsp; 5.5 |
| SGD | &nbsp;&nbsp;&nbsp; 4.5 |
| AUD | &nbsp;&nbsp;&nbsp; 3.9 |
| USD | &nbsp;&nbsp;&nbsp; 3.7 |
| SEK | &nbsp;&nbsp;&nbsp; 2.2 |
| &nbsp;&nbsp; Total | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**First Trust International Developed Capital Strength**<sup>®</sup> **Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | |
|:---|:---|
| **Country Allocation †** | **% of Net**<br> **Assets**<br>|
| Switzerland | &nbsp;&nbsp; 18.5% |
| United Kingdom | &nbsp;&nbsp; 18.3 |
| Canada | &nbsp;&nbsp; 13.2 |
| Germany | &nbsp;&nbsp;&nbsp; 8.1 |
| Japan | &nbsp;&nbsp;&nbsp; 5.5 |
| Spain | &nbsp;&nbsp;&nbsp; 5.4 |
| Netherlands | &nbsp;&nbsp;&nbsp; 5.4 |
| France | &nbsp;&nbsp;&nbsp; 5.3 |
| Singapore | &nbsp;&nbsp;&nbsp; 4.5 |
| Australia | &nbsp;&nbsp;&nbsp; 3.9 |
| United States | &nbsp;&nbsp;&nbsp; 3.7 |
| Finland | &nbsp;&nbsp;&nbsp; 3.7 |
| Sweden | &nbsp;&nbsp;&nbsp; 2.2 |
| Italy | &nbsp;&nbsp;&nbsp; 1.9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments | &nbsp;&nbsp; 99.6 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net Other Assets and Liabilities | &nbsp;&nbsp;&nbsp; 0.4 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | &nbsp;&nbsp; 100.0% |

---

† Portfolio securities are categorized based upon their country of incorporation.

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2026 is as follows (see Valuation Inputs in the Additional Information section):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total**<br> **Value at**<br> **3/31/2026**<br>| **Level 1**<br> **Quoted**<br> **Prices**<br>| **Level 2**<br> **Significant**<br> **Observable**<br> **Inputs**<br>| **Level 3**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>|
| Common Stocks: <br>|  |  |  |  |
| &nbsp;&nbsp; Banks | $1620147 | &nbsp;&nbsp; $1620147 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples <br> Distribution & <br> Retail<br>| 764632 | &nbsp;&nbsp; 764632 |  |  |
| &nbsp;&nbsp; Insurance | 5778446 | &nbsp;&nbsp; 804552 | 4973894 |  |
| &nbsp;&nbsp; IT Services | 1126202 | &nbsp;&nbsp; 1126202 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & <br> Consumable Fuels<br>| 1091217 | &nbsp;&nbsp; 1091217 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other Industry <br> Categories\*<br>| 25153129 | &nbsp;&nbsp; — | 25153129 |  |
| Warrants\* | —<br> \*\*<br>| &nbsp;&nbsp; — |  | —<br> \*\*<br>|
| Money Market Funds | 1378174 | &nbsp;&nbsp; 1378174 |  |  |
| Total Investments | $36911947 | &nbsp;&nbsp; $6784924 | $30127023 | $—<br> \*\*<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

\*\* Investment is valued at $0.

Level 3 investments are fair valued by the Advisor's Pricing Committee and are footnoted in the Portfolio of Investments. All Level 3 values are based on unobservable inputs.

------

**First Trust Growth Strength**<sup>TM</sup> **Portfolio** 

**Portfolio of Investments** 

**March 31, 2026 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value** |
| **COMMON STOCKS – 98.0%**  | **COMMON STOCKS – 98.0%**  | **COMMON STOCKS – 98.0%**  |
|  | **Aerospace & Defense – 2.1%** |  |
| 1225 | Northrop Grumman Corp.  | $835744 |
|  | **Beverages – 1.9%** |  |
| 10452 | Monster Beverage Corp. (a) | 757352 |
|  | **Biotechnology – 6.6%** |  |
| 7693 | Incyte Corp. (a) | 724065 |
| 6171 | Neurocrine Biosciences, Inc. (a) | 812968 |
| 1757 | United Therapeutics Corp. (a) | 1041866 |
|  |  | 2578899 |
|  | **Building Products – 2.2%** |  |
| 2098 | Trane Technologies PLC  | 874321 |
|  | **Capital Markets – 5.7%** |  |
| 2987 | Cboe Global Markets, Inc.  | 839556 |
| 11137 | &nbsp;&nbsp; Interactive Brokers Group, Inc., <br> Class A <br>| 746959 |
| 1516 | Moody's Corp.  | 661355 |
|  |  | 2247870 |
|  | **Commercial Services &** <br> **Supplies – 1.7%**<br>|  |
| 19908 | Copart, Inc. (a) | 660946 |
|  | **Communications Equipment –** <br> **4.2%**<br>|  |
| 6293 | Arista Networks, Inc. (a) | 772655 |
| 3046 | F5, Inc. (a) | 881299 |
|  |  | 1653954 |
|  | **Consumer Finance – 1.7%** |  |
| 2240 | American Express Co.  | 677555 |
|  | **Consumer Staples** <br> **Distribution & Retail – 4.3%**<br>|  |
| 848 | Costco Wholesale Corp.  | 844973 |
| 6826 | Walmart, Inc.  | 848335 |
|  |  | 1693308 |
|  | **Electronic Equipment,** <br> **Instruments & Components –** <br> **1.7%**<br>|  |
| 5292 | Amphenol Corp., Class A  | 668644 |
|  | **Energy Equipment &** <br> **Services – 4.8%**<br>|  |
| 15788 | Baker Hughes Co.  | 963857 |
| 17484 | SLB Ltd.  | 898503 |
|  |  | 1862360 |
|  | **Entertainment – 2.3%** |  |
| 9285 | Netflix, Inc. (a) | 892753 |
|  | **Financial Services – 1.9%** |  |
| 1514 | Mastercard, Inc., Class A  | 756485 |

---

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value** |
|  | **Ground Transportation – 1.8%** |  |
| 9629 | Uber Technologies, Inc. (a) | $692614 |
|  | **Health Care Equipment &** <br> **Supplies – 3.7%**<br>|  |
| 11749 | Dexcom, Inc. (a) | 737837 |
| 3172 | ResMed, Inc.  | 712051 |
|  |  | 1449888 |
|  | **Health Care Providers &** <br> **Services – 1.8%**<br>|  |
| 2302 | Cencora, Inc.  | 723150 |
|  | **Hotels, Restaurants &** <br> **Leisure – 3.7%**<br>|  |
| 6253 | Airbnb, Inc., Class A (a) | 789629 |
| 20446 | Chipotle Mexican Grill, Inc. (a) | 654476 |
|  |  | 1444105 |
|  | **Household Durables – 4.2%** |  |
| 3858 | Garmin Ltd.  | 895095 |
| 6274 | PulteGroup, Inc.  | 737885 |
|  |  | 1632980 |
|  | **Insurance – 4.2%** |  |
| 9013 | Arch Capital Group Ltd. (a) | 865158 |
| 4479 | Marsh & McLennan Cos., Inc.  | 776882 |
|  |  | 1642040 |
|  | **Interactive Media & Services –** <br> **3.4%**<br>|  |
| 1317 | Meta Platforms, Inc., Class A  | 753495 |
| 31534 | Pinterest, Inc., Class A (a) | 578334 |
|  |  | 1331829 |
|  | **Machinery – 1.9%** |  |
| 1411 | Cummins, Inc.  | 759146 |
|  | **Media – 1.3%** |  |
| 23028 | &nbsp;&nbsp; Trade Desk (The), Inc., <br> Class A (a)<br>| 522505 |
|  | **Metals & Mining – 2.0%** |  |
| 7159 | Newmont Corp.  | 774962 |
|  | **Pharmaceuticals – 1.9%** |  |
| 787 | Eli Lilly & Co.  | 723859 |
|  | **Semiconductors &** <br> **Semiconductor Equipment –** <br> **7.9%**<br>|  |
| 2323 | Broadcom, Inc.  | 718992 |
| 2252 | Micron Technology, Inc.  | 760815 |
| 791 | Monolithic Power Systems, Inc.  | 864840 |
| 4387 | NVIDIA Corp.  | 765093 |
|  |  | 3109740 |
|  | **Software – 12.6%** |  |
| 1437 | AppLovin Corp., Class A (a) | 571926 |

---

------

**First Trust Growth Strength**<sup>TM</sup> **Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Software (Continued)** |  |
| 2574 | &nbsp;&nbsp; Cadence Design Systems, <br> Inc. (a)<br>| $715238 |
| 20487 | Dynatrace, Inc. (a) | 757609 |
| 10839 | Fortinet, Inc. (a) | 885763 |
| 1498 | Intuit, Inc.  | 647705 |
| 4779 | Palantir Technologies, Inc. (a) | 699072 |
| 6418 | ServiceNow, Inc. (a) | 671002 |
|  |  | 4948315 |
|  | **Specialty Retail – 4.5%** |  |
| 4247 | Ross Stores, Inc.  | 920028 |
| 5192 | TJX (The) Cos., Inc.  | 829162 |
|  |  | 1749190 |
|  | **Textiles, Apparel & Luxury** <br> **Goods – 2.0%**<br>|  |
| 2250 | Ralph Lauren Corp.  | 773977 |
|  | **Total Common Stocks** | 38438491 |
|  | (Cost $38,981,669) |  |
| **MONEY MARKET FUNDS – 2.1%** | **MONEY MARKET FUNDS – 2.1%** | **MONEY MARKET FUNDS – 2.1%** |
| 809598 | &nbsp;&nbsp; Morgan Stanley Institutional <br> Liquidity Funds - Treasury <br> Portfolio - Institutional Class - <br> 3.53% (b)<br>| 809598 |
|  | (Cost $809,598) |  |
|  | **Total Investments – 100.1%** | 39248089 |
|  | (Cost $39,791,267)  |  |
|  | **Net Other Assets and** <br> **Liabilities – (0.1)%**<br>| (35959)<br>|
|  | **Net Assets – 100.0%** | $39212130 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Rate shown reflects yield as of March 31, 2026.

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2026 is as follows (see Valuation Inputs in the Additional Information section):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total**<br> **Value at**<br> **3/31/2026**<br>| **Level 1**<br> **Quoted**<br> **Prices**<br>| **Level 2**<br> **Significant**<br> **Observable**<br> **Inputs**<br>| **Level 3**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>|
| Common Stocks\* | $38438491 | &nbsp;&nbsp; $38438491 | $— | $— |
| Money Market Funds | 809598 | &nbsp;&nbsp; 809598 |  |  |
| Total Investments | $39248089 | &nbsp;&nbsp; $39248089 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

------

**First Trust Capital Strength**<sup>®</sup> **Hedged Equity Portfolio** 

**Portfolio of Investments** 

**March 31, 2026 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS – 97.4%**  | **COMMON STOCKS – 97.4%**  | **COMMON STOCKS – 97.4%**  |
|  | **Aerospace & Defense – 6.0%** |  |
| 939 | General Dynamics Corp. (a) | $322284 |
| 592 | Lockheed Martin Corp.  | 357799 |
| 517 | Northrop Grumman Corp. (a) | 352718 |
|  |  | 1032801 |
|  | **Beverages – 6.2%** |  |
| 4895 | Coca-Cola (The) Co. (a) | 372265 |
| 4411 | Monster Beverage Corp. (a) (b) | 319621 |
| 2357 | PepsiCo, Inc. (a) | 366018 |
|  |  | 1057904 |
|  | **Biotechnology – 4.3%** |  |
| 1609 | AbbVie, Inc.  | 349941 |
| 2761 | Gilead Sciences, Inc.  | 384801 |
|  |  | 734742 |
|  | **Building Products – 2.1%** |  |
| 885 | Trane Technologies PLC  | 368815 |
|  | **Capital Markets – 10.7%** |  |
| 677 | Ameriprise Financial, Inc.  | 300859 |
| 1261 | Cboe Global Markets, Inc.  | 354429 |
| 3321 | Charles Schwab (The) Corp.  | 312108 |
| 640 | Moody's Corp.  | 279200 |
| 2007 | Raymond James Financial, Inc.  | 290593 |
| 3238 | T. Rowe Price Group, Inc.  | 291873 |
|  |  | 1829062 |
|  | **Chemicals – 6.2%** |  |
| 1245 | Ecolab, Inc. (a) | 331195 |
| 786 | Linde PLC (a) | 389667 |
| 3129 | PPG Industries, Inc.  | 334428 |
|  |  | 1055290 |
|  | **Commercial Services & Supplies – 3.4%** |  |
| 8402 | Copart, Inc. (a) (b) | 278946 |
| 3359 | Veralto Corp. (a) | 297003 |
|  |  | 575949 |
|  | **Communications Equipment – 2.1%** |  |
| 4586 | Cisco Systems, Inc. (a) | 355828 |
|  | **Consumer Staples Distribution & Retail – 4.2%** |  |
| 358 | Costco Wholesale Corp. (a) | 356722 |
| 2881 | Walmart, Inc.  | 358051 |
|  |  | 714773 |
|  | **Financial Services – 3.7%** |  |
| 639 | Mastercard, Inc., Class A (a) | 319283 |
| 1050 | Visa, Inc., Class A (a) | 317352 |
|  |  | 636635 |
|  | **Food Products – 2.1%** |  |
| 1744 | Hershey (The) Co.  | 362560 |
|  | **Health Care Equipment & Supplies – 3.5%** |  |
| 2832 | Abbott Laboratories (a) | 290761 |

---

------

**First Trust Capital Strength**<sup>®</sup> **Hedged Equity Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)**  | **COMMON STOCKS (Continued)**  | **COMMON STOCKS (Continued)**  |
|  | **Health Care Equipment & Supplies (Continued)** |  |
| 1339 | ResMed, Inc.  | $300579 |
|  |  | 591340 |
|  | **Health Care Providers & Services – 1.8%** |  |
| 972 | Cencora, Inc. (a) | 305344 |
|  | **Household Durables – 1.8%** |  |
| 46 | NVR, Inc. (b) | 303132 |
|  | **Household Products – 4.0%** |  |
| 4080 | Colgate-Palmolive Co. (a) | 347738 |
| 2386 | Procter & Gamble (The) Co. (a) | 344634 |
|  |  | 692372 |
|  | **Industrial Conglomerates – 2.1%** |  |
| 1572 | Honeywell International, Inc. (a) | 355319 |
|  | **Insurance – 8.0%** |  |
| 3149 | Aflac, Inc.  | 345477 |
| 3804 | Arch Capital Group Ltd. (b) | 365146 |
| 1891 | Marsh & McLennan Cos., Inc. (a) | 327994 |
| 5080 | W.R. Berkley Corp. (a) | 336702 |
|  |  | 1375319 |
|  | **IT Services – 1.4%** |  |
| 1205 | Accenture PLC, Class A  | 238939 |
|  | **Machinery – 4.1%** |  |
| 1669 | Dover Corp.  | 347903 |
| 954 | Snap-on, Inc. (a) | 346512 |
|  |  | 694415 |
|  | **Oil, Gas & Consumable Fuels – 2.8%** |  |
| 3274 | EOG Resources, Inc.  | 473322 |
|  | **Pharmaceuticals – 2.2%** |  |
| 1577 | Johnson & Johnson (a) | 385482 |
|  | **Professional Services – 3.2%** |  |
| 1324 | Automatic Data Processing, Inc. (a) | 269011 |
| 3102 | Paychex, Inc. (a) | 285756 |
|  |  | 554767 |
|  | **Software – 3.4%** |  |
| 1298 | Autodesk, Inc. (b) | 310741 |
| 750 | Microsoft Corp. (a) | 277628 |
|  |  | 588369 |
|  | **Specialty Retail – 6.1%** |  |
| 907 | Home Depot (The), Inc. (a) | 298303 |
| 1793 | Ross Stores, Inc. (a) | 388417 |
| 2191 | TJX (The) Cos., Inc. (a) | 349903 |
|  |  | 1036623 |
|  | **Technology Hardware, Storage & Peripherals – 2.0%** |  |
| 1349 | Apple, Inc.  | 342363 |
|  | **Total Common Stocks** | 16661465 |
|  | (Cost $16,566,128) |  |

---

------

**First Trust Capital Strength**<sup>®</sup> **Hedged Equity Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS – 0.5%** | **MONEY MARKET FUNDS – 0.5%** | **MONEY MARKET FUNDS – 0.5%** |
| 82528 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.53% (c) | $82528 |
|  | (Cost $82,528) |  |
|  | **Total Investments – 97.9%** | 16743993 |
|  | (Cost $16,648,656)  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of** <br> **Contracts**<br>| **Description** | **Notional** <br> **Amount**<br>| **Exercise** <br> **Price**<br>| **Expiration** <br> **Date**<br>| **Value** |
| **PURCHASED OPTIONS – 2.2%** | **PURCHASED OPTIONS – 2.2%** | **PURCHASED OPTIONS – 2.2%** | **PURCHASED OPTIONS – 2.2%** | **PURCHASED OPTIONS – 2.2%** | **PURCHASED OPTIONS – 2.2%** |
|  | **Put Options Purchased – 2.2%** |  |  |  |  |
| 22 | S&P 500<sup>®</sup> Index | $14362744 | $6600.00 | 04/17/26 | 336842 |
| 29 | S&P 500<sup>®</sup> Mini Index | 1893265 | 660.00 | 04/17/26 | 42137 |
|  | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | 378979 |
|  | (Cost $245,236)  |  |  |  |  |
| **WRITTEN OPTIONS – (0.1)%** | **WRITTEN OPTIONS – (0.1)%** | **WRITTEN OPTIONS – (0.1)%** | **WRITTEN OPTIONS – (0.1)%** | **WRITTEN OPTIONS – (0.1)%** | **WRITTEN OPTIONS – (0.1)%** |
|  | **Call Options Written – (0.0)%** |  |  |  |  |
| (22)<br>| S&P 500<sup>®</sup> Index | (14362744)<br>| 7230.00 | 04/17/26 | (1210)<br>|
| (29)<br>| S&P 500<sup>®</sup> Mini Index | (1893265)<br>| 720.00 | 04/17/26 | (145)<br>|
|  | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | (1355)<br>|
|  | (Premiums received $183,788)  |  |  |  |  |
|  | **Put Options Written – (0.1)%** |  |  |  |  |
| (22)<br>| S&P 500<sup>®</sup> Index | (14362744)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5550.00 | 04/17/26 | (15400)<br>|
| (29)<br>| S&P 500<sup>®</sup> Mini Index | (1893265)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555.00 | 04/17/26 | (1943)<br>|
|  | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | (17343)<br>|
|  | (Premiums received $51,909)  |  |  |  |  |
|  | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | (18698)<br>|
|  | (Premiums received $235,697)  |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net Other Assets and Liabilities – (0.0)%** | (8078)<br>|
| **Net Assets – 100.0%** | $17096196 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) All or a portion of this security is segregated as collateral for the options written.
 At March 31, 2026, the segregated value of these securities amounts to $2,224,920.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Rate shown reflects yield as of March 31, 2026.

------

**First Trust Capital Strength**<sup>®</sup> **Hedged Equity Portfolio** 

**Portfolio of Investments (Continued)**

**March 31, 2026 (Unaudited)**

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2026 is as follows (see Valuation Inputs in the Additional Information section):

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total**<br> **Value at**<br> **3/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1**<br> **Quoted**<br> **Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2**<br> **Significant**<br> **Observable**<br> **Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>|
| Common Stocks\* | &nbsp;&nbsp; $16661465 | &nbsp;&nbsp;&nbsp;&nbsp; $16661465 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Money Market Funds | &nbsp;&nbsp; 82528 | &nbsp;&nbsp;&nbsp;&nbsp; 82528 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; 16743993 | &nbsp;&nbsp;&nbsp;&nbsp; 16743993 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Purchased Options | &nbsp;&nbsp; 378979 | &nbsp;&nbsp;&nbsp;&nbsp; 378979 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $17122972 | &nbsp;&nbsp;&nbsp;&nbsp; $17122972 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total**<br> **Value at**<br> **3/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1**<br> **Quoted**<br> **Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2**<br> **Significant**<br> **Observable**<br> **Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>|
| Written Options | &nbsp;&nbsp; $(18698)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(16755)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(1943)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

------

**Additional Information**

**First Trust Variable Insurance Trust** 

**March 31, 2026 (Unaudited)**

**Valuation Inputs**

The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the investment.

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

**Disclaimer**

S&P<sup>®</sup> is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). The trademarks have been licensed to S&P Dow Jones Indices LLC and have been sublicensed for use for certain purposes by First Trust Advisors L.P. ("First Trust"). The DOW JONES EQUAL WEIGHT U.S. ISSUED CORPORATE BOND INDEX<sup>SM</sup>, DOW JONES U.S. TOTAL STOCK MARKET INDEX<sup>SM</sup> and DOW JONES COMPOSITE AVERAGE<sup>TM</sup> are products of S&P Dow Jones Indices LLC and have been licensed for use by First Trust. The First Trust/Dow Jones Dividend & Income Allocation Portfolio and the First Trust Multi Income Allocation Portfolio are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, or any of their respective affiliates (collectively, "S&P Dow Jones Indices"). Neither S&P Dow Jones Indices nor its affiliates make any representation or warranty, express or implied, to the owners of the First Trust/Dow Jones Dividend & Income Allocation Portfolio or any member of the public regarding the advisability of investing in securities generally or in the First Trust/Dow Jones Dividend & Income Allocation Portfolio particularly or the ability of the DOW JONES EQUAL WEIGHT U.S. ISSUED CORPORATE BOND INDEX<sup>SM</sup>, DOW JONES U.S. TOTAL STOCK MARKET INDEX<sup>SM</sup> and DOW JONES COMPOSITE AVERAGE<sup>TM</sup> to track general market performance. S&P Dow Jones Indices' only relationship to First Trust with respect to the DOW JONES EQUAL WEIGHT U.S. ISSUED CORPORATE BOND INDEX<sup>SM</sup>, DOW JONES U.S. TOTAL STOCK MARKET INDEX<sup>SM</sup> and DOW JONES COMPOSITE AVERAGE<sup>TM</sup> is the licensing of the Indexes and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices. The DOW JONES EQUAL WEIGHT U.S. ISSUED CORPORATE BOND INDEX<sup>SM</sup>, DOW JONES U.S. TOTAL STOCK MARKET INDEX<sup>SM</sup> and DOW JONES COMPOSITE AVERAGE<sup>TM</sup> are determined, composed and calculated by S&P Dow Jones Indices without regard to First Trust or the First Trust/Dow Jones Dividend & Income Allocation Portfolio. S&P Dow Jones Indices has no obligation to take the needs of First Trust or the owners of the First Trust/Dow Jones Dividend & Income Allocation Portfolio into consideration in determining, composing or calculating the DOW JONES EQUAL WEIGHT U.S. ISSUED CORPORATE BOND INDEX<sup>SM</sup>, DOW JONES U.S. TOTAL STOCK MARKET INDEX<sup>SM</sup> and DOW JONES COMPOSITE AVERAGE<sup>TM</sup>. Neither S&P Dow Jones Indices nor its affiliates are responsible for and have not participated in the determination of the prices, and amount of the First Trust/Dow Jones Dividend & Income Allocation Portfolio or the timing of the issuance or sale of the First Trust/Dow Jones Dividend & Income Allocation Portfolio or in the determination or calculation of the equation by which the First Trust/Dow Jones Dividend & Income Allocation Portfolio is to be managed. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of the First Trust/Dow Jones Dividend & Income Allocation Portfolio. There is no assurance that investment products based on the DOW JONES EQUAL WEIGHT U.S. ISSUED CORPORATE BOND INDEX<sup>SM</sup>, DOW JONES U.S. TOTAL STOCK MARKET INDEX<sup>SM</sup> and DOW JONES COMPOSITE AVERAGE<sup>TM</sup> will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

NEITHER S&P DOW JONES INDICES NOR ITS AFFILIATES GUARANTEES THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE DOW JONES EQUAL WEIGHT U.S. ISSUED CORPORATE BOND INDEX<sup>SM</sup>, DOW JONES U.S. TOTAL STOCK MARKET INDEX<sup>SM</sup> AND DOW JONES COMPOSITE AVERAGE<sup>TM</sup> OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY FIRST TRUST, OWNERS OF THE FIRST TRUST/DOW JONES DIVIDEND & INCOME ALLOCATION PORTFOLIO, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE DOW JONES EQUAL WEIGHT U.S. ISSUED CORPORATE BOND INDEX<sup>SM</sup>, DOW JONES U.S. TOTAL STOCK MARKET INDEX<sup>SM</sup> AND DOW JONES COMPOSITE AVERAGE<sup>TM</sup> OR WITH

------

**Additional Information (Continued)**

**First Trust Variable Insurance Trust** 

**March 31, 2026 (Unaudited)**

RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND FIRST TRUST, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

The First Trust Dorsey Wright Tactical Core Portfolio (the "Fund") is not sponsored, endorsed, sold or promoted by Dorsey, Wright & Associates, LLC or its affiliates ("Licensor"). Licensor makes no representation or warranty, express or implied, to the owners of the Fund or any member of the public regarding the advisability of trading in the Fund. Licensor's only relationship to First Trust is the licensing of certain trademarks and trade names of Licensor and of the Dorsey Wright Tactical Tilt Moderate Core<sup>™</sup> Index (the "Index") which is determined, composed and calculated by Licensor, or its agent, without regard to First Trust or the Fund. Licensor has no obligation to take the needs of First Trust or the owners of the Fund into consideration in determining, composing or calculating the Index. Licensor is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Fund to be listed or in the determination or calculation of the equation by which the Fund is to be converted into cash. Licensor has no obligation or liability in connection with the administration, marketing or trading of the Fund.

LICENSOR DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE DORSEY WRIGHT TACTICAL TILT MODERATE CORE<sup>TM</sup> INDEX OR ANY DATA INCLUDED THEREIN AND LICENSOR SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. LICENSOR MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY FIRST TRUST, OWNERS OF THE FIRST TRUST DORSEY WRIGHT TACTICAL CORE PORTFOLIO, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE DORSEY WRIGHT TACTICAL TILT MODERATE CORE<sup>TM</sup> INDEX OR ANY DATA INCLUDED THEREIN. LICENSOR MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE DORSEY WRIGHT TACTICAL TILT MODERATE CORE<sup>TM</sup> INDEX OR ANY DATA INCLUDED THEREIN, WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL LICENSOR HAVE ANY LIABILITY FOR ANY LOST PROFITS OR INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN LICENSOR AND FIRST TRUST.

First Trust does not guarantee the accuracy and/or the completeness of The Capital Strength<sup>™</sup> Index, The International Capital Strength<sup>™</sup> Index and/or The Growth Strength<sup>™</sup> Index (together, the "Indexes") or any data included therein, and First Trust shall have no liability for any errors, omissions or interruptions therein. First Trust makes no warranty, express or implied, as to results to be obtained by the Fund, owners of the shares of the Fund or any other person or entity from the use of the Indexes or any data included therein. First Trust makes no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Indexes or any data included therein. Without limiting any of the foregoing, in no event shall First Trust have any liability for any special, punitive, direct, indirect or consequential damages (including lost profits) arising out of matters relating to the use of the Indexes, even if notified of the possibility of such damages.

The First Trust Capital Strength<sup>®</sup> Portfolio, the First Trust International Developed Capital Strength<sup>®</sup> Portfolio, the First Trust Growth Strength<sup>TM</sup> Portfolio, and the First Trust Capital Strength<sup>®</sup> Hedged Equity Portfolio (the "Capital Strength Funds") are not sponsored, endorsed, sold or promoted by Nasdaq, Inc. ("Nasdaq") or its affiliates (Nasdaq with its affiliates are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Capital Strength Funds. The Corporations make no representation or warranty, express or implied, to the owners of the Capital Strength Funds or any member of the public regarding the advisability of investing in securities generally or in the Capital Strength Funds particularly, or the ability of the Indexes to track general stock market performance. The Corporations' only relationship to First Trust with respect to the Capital Strength Funds is in the licensing of the Indexes, and certain trade names of the Corporations and the use of the Indexes, which are determined, composed and calculated by Nasdaq without regard to First Trust or the Capital Strength Funds. Nasdaq has no obligation to take the needs of First Trust or the owners of the Capital Strength Funds into consideration in determining, composing or calculating the Indexes. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of Capital Strength Fund Shares to be issued or in the determination or calculation of the equation by which the Capital Strength Fund Shares are to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Capital Strength Funds.

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF THE INDEXES OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED,

------

**Additional Information (Continued)**

**First Trust Variable Insurance Trust** 

**March 31, 2026 (Unaudited)**

AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S) OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEXES OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDEXES OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-22652

- **c. CIK number of Registrant:** 0001537395

- **d. LEI of Registrant:** 549300JPONC55SJXNC46

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

  - **Street Address 1:** 120 EAST LIBERTY DRIVE

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 630-765-8000

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

- **a. Name of Series:** First Trust/Dow Jones Dividend & Income Allocation Portfolio

- **b. EDGAR series identifier (if any):** S000036417

- **c. LEI of Series:** 549300NF9OL8EILDJ864

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $728174438.81

**Total Liabilities:** $1731613.65

**Net Assets:** $726442825.16

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.38991000 | **1-Year:** 16646.44605000 | **5-Year:** 76209.36424000 | **10-Year:** 130257.88158000 | **30-Year:** 20758.17616000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000111397 | 1.59%                | 1.42%                | -3.10%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2622314.50              | $8240155.75                                |
| Month 2  | $649214.77               | $8708621.28                                |
| Month 3  | $-236166.20              | $-24942061.88                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| RTX Corp.                                                                            | RTX 2.82 09/01/51                                           | CUSIP: 75513ECL3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $612170.23    | 0.08%             | 2051-09-01      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V2.615 04/22/32                                          | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $898571.87    | 0.12%             | 2032-04-22      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc.                                                                      | CRM 4.65 03/15/29                                           | CUSIP: 79466LAR5<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |    850000 | PA      | $851894.01    | 0.12%             | 2029-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Ross Stores Inc                                                                      | Ross Stores Inc COM                                         | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     13854 | NS      | $3001192.02   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                                                                 | HWM 4.75 04/15/36                                           | CUSIP: 443201AH1<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $972624.58    | 0.13%             | 2036-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Marzetti Co.                                                                         | Marzetti Co. COM                                            | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |     15179 | NS      | $2099711.07   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                                                         | UBS V5.699 02/08/35 144A                                    | CUSIP: 902613BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2000000 | PA      | $2050899.18   | 0.28%             | 2035-02-08      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Alabama Power Co.                                                                    | SO 5.1 04/02/35                                             | CUSIP: 010392GC6<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504833.16    | 0.07%             | 2035-04-02      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 2.25 11/15/31                                          | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $439622.91    | 0.06%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                                                | AON 5.75 03/01/54                                           | CUSIP: 03740MAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2217874.18   | 0.31%             | 2054-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| National Bank Holdings Corp                                                          | National Bank Holdings Corp CL A                            | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64583 | NS      | $2529070.28   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                                         | T 3.5 03/15/29                                              | CUSIP: 91282CQE4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2970000 | PA      | $2943896.49   | 0.41%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AUTOLIV INC                                                                          | Autoliv Inc. COM                                            | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | US        |     21026 | NS      | $2211094.16   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corporation                                                         | NOC 4.95 03/15/53                                           | CUSIP: 666807CJ9<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $886516.57    | 0.12%             | 2053-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 2.55 12/01/33                                             | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1392000 | PA      | $1178540.95   | 0.16%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                        | USB V5.033 01/26/37                                         | CUSIP: 91159HJY7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $985666.21    | 0.14%             | 2037-01-26      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| Darden Restaurants, Inc.                                                             | Darden Restaurants, Inc. COM                                | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     13561 | NS      | $2658498.44   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 6.15 11/09/29                                          | CUSIP: 68389XCH6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031450.12   | 0.14%             | 2029-11-09      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Gallagher Aj &Co                                                                     | AJG 5.55 02/15/55                                           | CUSIP: 04316JAP4<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $934162.18    | 0.13%             | 2055-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Cboe Global Markets Inc                                                              | Cboe Global Markets Inc COM                                 | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      9943 | NS      | $2794679.01   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                                                                   | SANTAN 5.127 11/06/35                                       | CUSIP: 05971KAS8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   1000000 | PA      | $975345.72    | 0.13%             | 2035-11-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.4 11/06/42                                           | CUSIP: 00287YAM1<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    275000 | PA      | $241765.69    | 0.03%             | 2042-11-06      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 3.875 03/31/31                                            | CUSIP: 91282CQG9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1450000 | PA      | $1445412.11   | 0.20%             | 2031-03-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Aptargroup Inc.                                                                      | Aptargroup Inc. COM                                         | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     20465 | NS      | $2578999.30   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.                                                                 | ELV 5.7 09/15/55                                            | CUSIP: 036752BL6<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    500000 | PA      | $475773.87    | 0.07%             | 2055-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Boyd Gaming Corporation                                                              | Boyd Gaming Corporation COM                                 | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     29280 | NS      | $2406230.40   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Virginia Electric and Power Company                                                  | D 5.7 03/15/56                                              | CUSIP: 927804GY4<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $965282.55    | 0.13%             | 2056-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| NORTHERN STATES POWER COMPANY (WISCONSIN)                                            | XEL 5.55 05/15/56                                           | CUSIP: 665772DC0<br>LEI: OOVRSRHKQSBLKRB7QM17 | Long             | DBT              | CORP              | US        |    500000 | PA      | $486265.87    | 0.07%             | 2056-05-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                     | NRG 5.407 10/15/35 144A                                     | CUSIP: 629377DB5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $981539.78    | 0.14%             | 2035-10-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V2.908 07/21/42                                          | CUSIP: 38141GYK4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $704973.63    | 0.10%             | 2042-07-21      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| Aflac Incorporated                                                                   | Aflac Incorporated COM                                      | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |     22631 | NS      | $2482847.01   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.58 04/22/32                                          | CUSIP: 46647PCC8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $904017.37    | 0.12%             | 2032-04-22      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| Chubb Ltd. Switzerland                                                               | Chubb Ltd. Switzerland ORD CHF24.15                         | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |      7996 | NS      | $2606136.28   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular, Inc.                                                                        | Popular, Inc. COM NEW                                       | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     20042 | NS      | $2689035.14   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                                                                    | BRO 4.9 06/23/30                                            | CUSIP: 115236AK7<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    750000 | PA      | $749502.74    | 0.10%             | 2030-06-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V4.912 07/25/33                                         | CUSIP: 46647PDH6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001042.51   | 0.14%             | 2033-07-25      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| OHIO EDISON CO                                                                       | FE 5.5 01/15/33 144A                                        | CUSIP: 677347CH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2060042.40   | 0.28%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                         | BACR V4.219 05/24/30                                        | CUSIP: 06738EDG7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $984923.69    | 0.14%             | 2030-05-24      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                                  | MEDIND 3.875 04/01/29 144A                                  | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1935843.60   | 0.27%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 4.75 04/15/29                                          | CUSIP: 11135FBA8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    500000 | PA      | $505717.20    | 0.07%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Park National Corp                                                                   | Park National Corp COM                                      | CUSIP: 700658107<br>LEI: 984500Q3E941TDF87712 | Long             | EC               | CORP              | US        |     14038 | NS      | $2294511.10   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation                                                         | Stifel Financial Corporation COM                            | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |     29897 | NS      | $2209986.24   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc.                                                                 | Landstar System Inc. COM                                    | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |     17365 | NS      | $2783783.15   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                                                                        | ENBCN 4.5 02/15/31                                          | CUSIP: 29250NCN3<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $989044.62    | 0.14%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                                                         | NOC 4.03 10/15/47                                           | CUSIP: 666807BP6<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    750000 | PA      | $590916.07    | 0.08%             | 2047-10-15      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| PECO Energy Co.                                                                      | EXC 3.9 03/01/48                                            | CUSIP: 693304AW7<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |    500000 | PA      | $382258.61    | 0.05%             | 2048-03-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V5.244 01/24/31                                         | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1019622.58   | 0.14%             | 2031-01-24      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 6.2 09/15/55                                            | CUSIP: 126650EL0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1982700.24   | 0.27%             | 2055-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| American International Group Inc.                                                    | American International Group Inc. COM NEW                   | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     29172 | NS      | $2195193.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTENERGY PENNSYLVANIA ELECTRIC CO                                                 | FE 4.15 03/15/28 144A                                       | CUSIP: 33767QAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1993093.66   | 0.27%             | 2028-03-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Canadian Pacific Railway Company                                                     | CP 5.5 03/15/56                                             | CUSIP: 13645RBS2<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $957957.84    | 0.13%             | 2056-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cincinnati Financial Corporation                                                     | Cincinnati Financial Corporation COM                        | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               | CORP              | US        |     15280 | NS      | $2404308.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| LSEG US Finance Corp                                                                 | LSELN 4.5 03/23/31 144A                                     | CUSIP: 50222CAE0<br>LEI: 2138007FV67QQ13CGJ43 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $988029.43    | 0.14%             | 2031-03-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V4.493 01/16/32                                          | CUSIP: 61748UAS1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1721081.39   | 0.24%             | 2032-01-16      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Inc                                                                 | Federated Hermes Inc CL B                                   | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     47931 | NS      | $2718167.01   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.                                                                 | ELV 6.1 10/15/52                                            | CUSIP: 036752AX1<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004023.08   | 0.14%             | 2052-10-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Public Service Electric & Gas Co.                                                    | PEG 4.2 01/01/31 R                                          | CUSIP: 74456QCX2<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |    909000 | PA      | $897464.40    | 0.12%             | 2031-01-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Firstenergy Transmission Llc                                                         | FE 4.55 01/15/30                                            | CUSIP: 33767BAG4<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1499048.72   | 0.21%             | 2030-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V1.922 10/24/31 MTN                                     | CUSIP: 06051GJL4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $886529.05    | 0.12%             | 2031-10-24      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V5.336 01/23/35                                         | CUSIP: 46647PEC6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015669.99   | 0.14%             | 2035-01-23      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| Applovin Corp.                                                                       | APP 5.125 12/01/29                                          | CUSIP: 03831WAB4<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1006032.11   | 0.14%             | 2029-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Selective Insurance Group Inc.                                                       | Selective Insurance Group Inc. COM                          | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     29828 | NS      | $2248732.92   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide Inc                    | ABIBB 4.7 02/01/36 *                                        | CUSIP: 03522AAH3<br>LEI: 5493002J2SVENP0PVK27 | Long             | DBT              | CORP              | US        |    875000 | PA      | $852580.28    | 0.12%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V5.211 12/03/35                                         | CUSIP: 95000U3N1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2988061.89   | 0.41%             | 2035-12-03      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Commonwealth Edison Company                                                          | EXC 4 03/01/49                                              | CUSIP: 202795JP6<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |    500000 | PA      | $383909.21    | 0.05%             | 2049-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                                                         | Northrop Grumman Corporation COM                            | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      4377 | NS      | $2986164.48   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                                                                      | CI 4.5 09/15/30                                             | CUSIP: 125523CX6<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996890.23    | 0.14%             | 2030-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                                     | BPLN 2.721 01/12/32                                         | CUSIP: 10373QBT6<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1355982.93   | 0.19%             | 2032-01-12      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                            | RTX 3.125 07/01/50                                          | CUSIP: 75513EAC5<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $987214.23    | 0.14%             | 2050-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Private Bank National Association                                     | MS V4.466 07/06/28 *                                        | CUSIP: 61776NVE0<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3000555.36   | 0.41%             | 2028-07-06      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 4.016 12/03/29                                           | CUSIP: 92343VEU4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1119000 | PA      | $1103926.75   | 0.15%             | 2029-12-03      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 5.8 09/15/62                                           | CUSIP: 87264ACX1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $959639.75    | 0.13%             | 2062-09-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BancFirst Corp.                                                                      | BancFirst Corp. COM                                         | CUSIP: 05945F103<br>LEI: 549300EJEHGBP4IO2J30 | Long             | EC               | CORP              | US        |     23541 | NS      | $2554198.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp                                                        | International Bancshares Corp COM                           | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |     37563 | NS      | $2527614.27   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Inc.                                                                             | HCA 5.25 03/01/30                                           | CUSIP: 404119CZ0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1021185.34   | 0.14%             | 2030-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Penske Automotive Group, Inc.                                                        | Penske Automotive Group, Inc. COM                           | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |     15767 | NS      | $2357481.84   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                                                             | T 3.5 09/15/53                                              | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1186000 | PA      | $778283.83    | 0.11%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 5.3 02/15/30                                            | CUSIP: 91324PEQ1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3599704.50   | 0.50%             | 2030-02-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| NORTHERN STATES POWER COMPANY (WISCONSIN)                                            | XEL 4.85 05/15/36                                           | CUSIP: 665772DB2<br>LEI: OOVRSRHKQSBLKRB7QM17 | Long             | DBT              | CORP              | US        |    500000 | PA      | $493890.08    | 0.07%             | 2036-05-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V5.065 01/21/37                                          | CUSIP: 38145GAS9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $978044.71    | 0.13%             | 2037-01-21      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V4.078 04/23/40 MTN                                     | CUSIP: 06051GHU6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $435446.61    | 0.06%             | 2040-04-23      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Radian Group Inc.                                                                    | Radian Group Inc. COM                                       | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               | CORP              | US        |     69345 | NS      | $2293932.60   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V3.509 01/23/29                                         | CUSIP: 46647PAM8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492104.73    | 0.07%             | 2029-01-23      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| Franklin Electric Co Inc                                                             | Franklin Electric Co Inc COM                                | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |     26126 | NS      | $2408033.42   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| W.R. Berkley Corporation                                                             | W.R. Berkley Corporation COM                                | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     35593 | NS      | $2359104.04   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                                                               | The TJX Companies Inc. COM                                  | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     16250 | NS      | $2595125.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc.                                                                 | CSW Industrials Inc. COM                                    | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |      8502 | NS      | $2215451.16   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| The New York Times Company                                                           | The New York Times Company CL A                             | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     35951 | NS      | $3010177.23   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                                                                          | Pepsico Inc COM                                             | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     17388 | NS      | $2700182.52   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA INTERNATIONAL INC                                                                | CRA International Inc. COM                                  | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12436 | NS      | $2013139.68   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                                                                      | CI 5.25 02/15/34                                            | CUSIP: 125523CV0<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1164557.76   | 0.16%             | 2034-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Flutter Treasury Designated Activity Co.                                             | FLTR 5.875 06/04/31 144A                                    | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $991500.00    | 0.14%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V4.898 01/22/37                                         | CUSIP: 46647PFJ0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1468328.42   | 0.20%             | 2037-01-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Indiana Michigan Power Company                                                       | AEP 3.75 07/01/47 L                                         | CUSIP: 454889AR7<br>LEI: JHR9V15J0ZRG02MIRD06 | Long             | DBT              | CORP              | US        |    500000 | PA      | $371299.60    | 0.05%             | 2047-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.8 03/15/29                                           | CUSIP: 00287YDS5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2032404.28   | 0.28%             | 2029-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp                                                          | AWK 5.7 09/01/55                                            | CUSIP: 03040WBG9<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    667000 | PA      | $653069.20    | 0.09%             | 2055-09-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Hershey Co. (The)                                                                    | Hershey Co. (The) COM                                       | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     13715 | NS      | $2851211.35   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc.                                                                            | MSCI 3.875 02/15/31 144A                                    | CUSIP: 55354GAL4<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2364675.05   | 0.33%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                                                         | NOC 4.6 02/01/29                                            | CUSIP: 666807CK6<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    500000 | PA      | $503331.67    | 0.07%             | 2029-02-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Alabama Power Co.                                                                    | SO 5.85 11/15/33                                            | CUSIP: 010392GB8<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1059242.41   | 0.15%             | 2033-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Paychex Inc                                                                          | Paychex Inc COM                                             | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     22249 | NS      | $2049577.88   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                                                            | RTX 6 03/15/31                                              | CUSIP: 75513ECV1<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1063298.79   | 0.15%             | 2031-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Old Dominion Freight Line Inc.                                                       | Old Dominion Freight Line Inc. COM                          | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     15917 | NS      | $3110181.80   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies Inc.                                                 | Applied Industrial Technologies Inc. COM                    | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      9720 | NS      | $2578910.40   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial, Inc.                                                           | Ameriprise Financial, Inc. COM                              | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      5089 | NS      | $2261551.60   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co                                                                   | Graham Holdings Co COM CL B                                 | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |      2270 | NS      | $2399980.20   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc                                                                  | Cheniere Energy Inc COM NEW                                 | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |     12838 | NS      | $3642910.88   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V3.194 07/23/30 MTN                                     | CUSIP: 06051GHV4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $479619.15    | 0.07%             | 2030-07-23      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                      | CI 4.375 10/15/28                                           | CUSIP: 125523AH3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1199242.21   | 0.17%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| The Progressive Corporation                                                          | The Progressive Corporation COM                             | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     10961 | NS      | $2172908.64   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc                                                                     | Badger Meter Inc COM                                        | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |     14310 | NS      | $2180128.50   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                                                             | T 3.55 09/15/55                                             | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    504000 | PA      | $328031.88    | 0.05%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Ryman Hospitality Properties Inc                                                     | Ryman Hospitality Properties Inc COM                        | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     26375 | NS      | $2433621.25   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Investments Co                                                                   | SEI Investments Co COM                                      | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |     30427 | NS      | $2387606.69   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TRANSMISSION SYSTEMS INC                                                    | FE 2.65 01/15/32 144A                                       | CUSIP: 030288AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2542000 | PA      | $2278843.11   | 0.31%             | 2032-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Alabama Power Co.                                                                    | SO 4.3 03/15/31 C                                           | CUSIP: 010392GE2<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $990221.20    | 0.14%             | 2031-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                      | CI 5.6 02/15/54                                             | CUSIP: 125523CW8<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1089798.88   | 0.15%             | 2054-02-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Preferred Bank                                                                       | Preferred Bank COM NEW                                      | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |     14876 | NS      | $1349104.44   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPMorgan Chase & Co. COM                                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      7746 | NS      | $2278563.36   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Incorporated                                                               | Ingredion Incorporated COM                                  | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     22633 | NS      | $2549833.78   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc.                                                                            | MSCI 4 11/15/29 144A                                        | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1457588.51   | 0.20%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                           | BA 3.55 03/01/38                                            | CUSIP: 097023BY0<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1662737.54   | 0.23%             | 2038-03-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V4.952 05/07/31                                           | CUSIP: 172967QA2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1258533.45   | 0.17%             | 2031-05-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co.                                                            | NEE 5.3 06/15/34                                            | CUSIP: 341081GU5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1028543.95   | 0.14%             | 2034-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 1.75 01/20/31                                            | CUSIP: 92343VFR0<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    500000 | PA      | $438518.49    | 0.06%             | 2031-01-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V5.164 04/20/29 MTN                                      | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2023354.82   | 0.28%             | 2029-04-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Northern States Power Company                                                        | XEL 5.4 03/15/54                                            | CUSIP: 665772CY3<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1189781.50   | 0.16%             | 2054-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Interactive Brokers Group Inc                                                        | Interactive Brokers Group Inc COM CL A                      | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     38808 | NS      | $2602852.56   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V5.15 04/23/31                                          | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017270.81   | 0.14%             | 2031-04-23      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc.                                                                      | CRM 5.55 03/15/36                                           | CUSIP: 79466LAU8<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498633.30    | 0.07%             | 2036-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Vici Properties Inc                                                                  | Vici Properties Inc COM                                     | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     88753 | NS      | $2424731.96   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                                                             | T 3.65 09/15/59                                             | CUSIP: 00206RLV2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1044000 | PA      | $677020.32    | 0.09%             | 2059-09-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                                     | BPLN 3.06 06/17/41                                          | CUSIP: 10373QBR0<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $753302.94    | 0.10%             | 2041-06-17      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| LSEG US Finance Corp                                                                 | LSELN 5.25 03/23/36 144A                                    | CUSIP: 50222CAF7<br>LEI: 2138007FV67QQ13CGJ43 | Long             | DBT              | CORP              | US        |    667000 | PA      | $660703.37    | 0.09%             | 2036-03-23      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FactSet Research Systems Inc.                                                        | FactSet Research Systems Inc. COM                           | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |      8601 | NS      | $1866330.99   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Company                                                             | AXP V4.009 02/09/29                                         | CUSIP: 025816EN5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2981508.99   | 0.41%             | 2029-02-09      | Fixed         | 4.01%                 | No            |                  2 | On Loan: No      |
| Virtus Investment Partners Inc.                                                      | Virtus Investment Partners Inc. COM                         | CUSIP: 92828Q109<br>LEI: 549300HWF93HB8BDM648 | Long             | EC               | CORP              | US        |     15137 | NS      | $2033655.95   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AUGUSTA SPINCO CORP                                                                  | WAT 4.945 03/23/33                                          | CUSIP: 051473AE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996831.34    | 0.14%             | 2033-03-23      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Aon Corp/ Aon Global Holdings PLC                                                    | AON 5.35 02/28/33                                           | CUSIP: 03740LAG7<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2049625.30   | 0.28%             | 2033-02-28      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Duke Energy Indiana, LLC.                                                            | DUK 4.95 03/15/36 DDDD                                      | CUSIP: 26443TAG1<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |    455000 | PA      | $448100.23    | 0.06%             | 2036-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Smurfit Kappa Treasury Unlimited Company                                             | SW 5.438 04/03/34                                           | CUSIP: 83272GAE1<br>LEI: 635400B3DOXSWFOWJT40 | Long             | DBT              | CORP              | IE        |   2500000 | PA      | $2538021.63   | 0.35%             | 2034-04-03      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| Gildan Activewear Inc.                                                               | GILCN 5.4 10/07/35 144A                                     | CUSIP: 375916AG8<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $487960.90    | 0.07%             | 2035-10-07      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 5.55 11/01/45                                             | CUSIP: 00206RND0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    500000 | PA      | $473685.23    | 0.07%             | 2045-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Intuit Inc                                                                           | Intuit Inc COM                                              | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      3768 | NS      | $1629207.84   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AEP Transmission Company, LLC                                                        | AEP 5.15 04/01/34                                           | CUSIP: 00115AAR0<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1008132.48   | 0.14%             | 2034-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V4.571 04/27/33                                         | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $491473.78    | 0.07%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Public Service Electric & Gas Co.                                                    | PEG 5.2 03/01/34 MTN                                        | CUSIP: 74456QCQ7<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1526095.05   | 0.21%             | 2034-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V5.198 01/23/30                                         | CUSIP: 95000U3J0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015810.90   | 0.14%             | 2030-01-23      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Donaldson Co Inc                                                                     | Donaldson Co Inc COM                                        | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     28148 | NS      | $2388920.76   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.125 03/15/31                                         | CUSIP: 00287YEE5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $985707.33    | 0.14%             | 2031-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Deere & Company                                                                      | Deere & Company COM                                         | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      5362 | NS      | $3020414.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor Flexibles North America Inc                                                    | AMCR 5.125 03/12/36                                         | CUSIP: 02344AAK4<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $972673.40    | 0.13%             | 2036-03-12      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corporation                                                             | H 5.4 12/15/35                                              | CUSIP: 448579AW2<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    500000 | PA      | $490013.70    | 0.07%             | 2035-12-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 5.85 12/01/35                                          | CUSIP: 161175CS1<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492067.39    | 0.07%             | 2035-12-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Steris PLC                                                                           | Steris PLC ORD USD0.001                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      9844 | NS      | $2176803.72   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Jack & Associates Inc.                                                         | Henry Jack & Associates Inc. COM                            | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |     13679 | NS      | $2161829.16   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Indiana Michigan Power Company                                                       | AEP 5.6 03/15/56                                            | CUSIP: 454889AW6<br>LEI: JHR9V15J0ZRG02MIRD06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $965359.83    | 0.13%             | 2056-03-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                                             | LLOYDS V4.241 02/10/30                                      | CUSIP: 53944YBG7<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $1978942.18   | 0.27%             | 2030-02-10      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Companies, Inc.                                                     | Marsh & McLennan Companies, Inc. COM                        | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     13453 | NS      | $2333422.85   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 3.4 03/22/41                                             | CUSIP: 92343VGK4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    500000 | PA      | $384157.34    | 0.05%             | 2041-03-22      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                            | RTX 5.375 02/27/53                                          | CUSIP: 75513ECS8<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2349378.45   | 0.32%             | 2053-02-27      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                                    | Exxon Mobil Corp. COM                                       | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     20739 | NS      | $3518578.74   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| The Campbells Co.                                                                    | CPB 5.4 03/21/34                                            | CUSIP: 134429BP3<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1941788.92   | 0.27%             | 2034-03-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.3 02/15/51                                           | CUSIP: 87264ABN4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $655069.13    | 0.09%             | 2051-02-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Rayonier Inc                                                                         | Rayonier Inc COM                                            | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |    115277 | NS      | $2377011.74   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V4.96 01/23/37                                          | CUSIP: 95000U4E0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $974515.00    | 0.13%             | 2037-01-23      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.525 11/19/41                                         | CUSIP: 46647PBV7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $699391.32    | 0.10%             | 2041-11-19      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| Snap-On Incorporated                                                                 | Snap-On Incorporated COM                                    | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |      7241 | NS      | $2630076.02   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashtead Capital Inc.                                                                 | AHTLN 5.8 04/15/34 144A                                     | CUSIP: 045054AS2<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1019906.55   | 0.14%             | 2034-04-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 2.55 02/15/31                                          | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    750000 | PA      | $681733.55    | 0.09%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 5.55 03/15/56                                          | CUSIP: 00287YEH8<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $978709.84    | 0.13%             | 2056-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                                                               | ROP 4.9 10/15/34                                            | CUSIP: 776696AJ5<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $966026.41    | 0.13%             | 2034-10-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 5.9 06/01/53                                            | CUSIP: 404119CR8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2382274.28   | 0.33%             | 2053-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.875 11/14/48                                         | CUSIP: 00287YBD0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    250000 | PA      | $224323.06    | 0.03%             | 2048-11-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                       | BNP V5.085 05/09/31 144A                                    | CUSIP: 09659W3D4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $504495.58    | 0.07%             | 2031-05-09      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co.                                                            | NEE 5.6 02/15/66                                            | CUSIP: 341081HB6<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1446142.19   | 0.20%             | 2066-02-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| OFG Bancorp                                                                          | OFG Bancorp COM                                             | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     56469 | NS      | $2284735.74   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Companies, Inc.                                                     | MRSH 5.45 03/15/54                                          | CUSIP: 571748BX9<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $1053739.59   | 0.15%             | 2054-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Duke Energy Progress LLC                                                             | DUK 4 04/01/52                                              | CUSIP: 26442UAP9<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $757674.56    | 0.10%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City Holding Co                                                                      | City Holding Co COM                                         | CUSIP: 177835105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20670 | NS      | $2470478.40   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Florida Power & Light Co.                                                            | NEE 5.69 03/01/40                                           | CUSIP: 341081FC6<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2065427.60   | 0.28%             | 2040-03-01      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                                                        | ENBCN 4.85 03/27/31                                         | CUSIP: 29250NCQ6<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1004425.76   | 0.14%             | 2031-03-27      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY PENNSYLVANIA ELECTRIC CO                                                 | FE 4.55 03/15/31 144A                                       | CUSIP: 33767QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996847.08    | 0.14%             | 2031-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Linde PLC                                                                            | Linde PLC COM EUR0.001                                      | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      5853 | NS      | $2901683.28   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Commonwealth Edison Company                                                          | EXC 5.3 02/01/53                                            | CUSIP: 202795JY7<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $928076.99    | 0.13%             | 2053-02-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Constellation Software Inc.                                                          | CSUCN 5.461 02/16/34 144A                                   | CUSIP: 21037XAD2<br>LEI: 549300B6PYHMCTDWQV29 | Long             | DBT              | CORP              | CA        |   1125000 | PA      | $1102562.36   | 0.15%             | 2034-02-16      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Georgia Power Company                                                                | SO 4.85 03/15/31                                            | CUSIP: 373334LA7<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1012863.82   | 0.14%             | 2031-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| J&J Snack Foods Corp                                                                 | J&J Snack Foods Corp COM                                    | CUSIP: 466032109<br>LEI: 894500IGP1Y2ZQFQMJ83 | Long             | EC               | CORP              | US        |     27616 | NS      | $2189120.32   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hartford Insurance Group Inc.                                                    | The Hartford Insurance Group Inc. COM                       | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     18111 | NS      | $2449150.53   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                                                            | RTX 5.75 01/15/29                                           | CUSIP: 75513ECU3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    600000 | PA      | $622558.30    | 0.09%             | 2029-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V5.35 06/01/34                                          | CUSIP: 46647PDR4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1020770.25   | 0.14%             | 2034-06-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Conagra Brands Inc                                                                   | CAG 5.4 11/01/48                                            | CUSIP: 205887CE0<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    500000 | PA      | $425232.20    | 0.06%             | 2048-11-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Sysco Corporation                                                                    | SYY 4.4 07/25/31                                            | CUSIP: 871829BW6<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $970091.03    | 0.13%             | 2031-07-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| American Express Company                                                             | AXP V5.532 04/25/30                                         | CUSIP: 025816DU0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1029839.28   | 0.14%             | 2030-04-25      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                                                    | PNC V5.068 01/24/34                                         | CUSIP: 693475BM6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000311.14   | 0.14%             | 2034-01-24      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp                                                          | AWK 5.45 03/01/54                                           | CUSIP: 03040WBC8<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2378814.63   | 0.33%             | 2054-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                                 | RY V4.696 08/06/31                                          | CUSIP: 78017DAM0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $998151.90    | 0.14%             | 2031-08-06      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Mondelez International Inc.                                                          | Mondelez International Inc. CL A                            | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     46364 | NS      | $2672420.96   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                                       | MS V4.457 04/22/39                                          | CUSIP: 61744YAR9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $458680.32    | 0.06%             | 2039-04-22      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                                                        | ENBCN 5.45 03/27/36                                         | CUSIP: 29250NCR4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1008994.45   | 0.14%             | 2036-03-27      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Amgen Inc.                                                                           | AMGN 5.6 03/02/43                                           | CUSIP: 031162DS6<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2961622.23   | 0.41%             | 2043-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| 1ST SOURCE CORP                                                                      | 1st Source Corporation COM                                  | CUSIP: 336901103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18442 | NS      | $1276370.82   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AEP Transmission Company, LLC                                                        | AEP 4.25 09/15/48                                           | CUSIP: 00115AAJ8<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |    900000 | PA      | $714903.72    | 0.10%             | 2048-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V5.045 02/06/37                                         | CUSIP: 060505GR9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1974196.38   | 0.27%             | 2037-02-06      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                        | USB V5.424 02/12/36                                         | CUSIP: 91159HJU5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1022268.13   | 0.14%             | 2036-02-12      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| MGIC Investment Corp.                                                                | MGIC Investment Corp. COM                                   | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     85411 | NS      | $2242038.75   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V2.65 10/21/32                                           | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1332131.37   | 0.18%             | 2032-10-21      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                         | UBS V4.844 11/06/33 144A                                    | CUSIP: 902613BT4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1500000 | PA      | $1475920.98   | 0.20%             | 2033-11-06      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Omnicom Group Inc                                                                    | Omnicom Group Inc COM                                       | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     30906 | NS      | $2327530.86   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                                                                  | ABT 4.9 11/30/46                                            | CUSIP: 002824BH2<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |   2350000 | PA      | $2159400.76   | 0.30%             | 2046-11-30      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| The Hanover Insurance Group, Inc.                                                    | The Hanover Insurance Group, Inc. COM                       | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     13657 | NS      | $2367440.95   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 2.45 02/15/31                                          | CUSIP: 11135FCQ2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    500000 | PA      | $454208.38    | 0.06%             | 2031-02-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V4.369 10/21/31 .                                        | CUSIP: 38141GD35<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $980726.18    | 0.14%             | 2031-10-21      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                                                         | NOC 5.25 05/01/50                                           | CUSIP: 666807BU5<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    250000 | PA      | $232037.62    | 0.03%             | 2050-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OTTER TAIL CORP                                                                      | Otter Tail Corporation COM                                  | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30884 | NS      | $2710688.68   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERCE BANCSHARES INC (MO)                                                         | Commerce Bancshares Inc COM                                 | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47683 | NS      | $2346003.60   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers, Inc.                                                           | Cullen/Frost Bankers, Inc. COM                              | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |     19709 | NS      | $2701709.72   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                                                              | MasterCard Incorporated CL A                                | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      4372 | NS      | $2184513.52   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Robert Half Inc.                                                                     | Robert Half Inc. COM                                        | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |     91889 | NS      | $2333980.60   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide Inc                    | ABIBB 4.9 02/01/46 *                                        | CUSIP: 03522AAJ9<br>LEI: 5493002J2SVENP0PVK27 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $991915.83    | 0.14%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CRH America Finance, Inc.                                                            | CRHID 5.4 05/21/34                                          | CUSIP: 12636YAE2<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1146015.93   | 0.16%             | 2034-05-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Jacobs Solutions Inc.                                                                | J 5.375 03/03/36                                            | CUSIP: 46982LAB4<br>LEI: 254900E3KHXCC2C8K272 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $975905.86    | 0.13%             | 2036-03-03      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Amgen Inc.                                                                           | AMGN 4.85 02/19/36                                          | CUSIP: 031162DW7<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982911.58    | 0.14%             | 2036-02-19      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Ryan Specialty LLC                                                                   | RYASPE 5.875 08/01/32 144A                                  | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   1367000 | PA      | $1352194.84   | 0.19%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Jacobs Solutions Inc.                                                                | J 4.75 03/03/31                                             | CUSIP: 46982LAA6<br>LEI: 254900E3KHXCC2C8K272 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986393.60    | 0.14%             | 2031-03-03      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Accenture PLC                                                                        | Accenture PLC CLS'A'USD0.0000225                            | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      9301 | NS      | $1844295.29   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 5.2 01/15/33                                           | CUSIP: 87264ACV5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1527519.84   | 0.21%             | 2033-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                         | UBS V5.617 09/13/30 144A                                    | CUSIP: 902613BL1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1000000 | PA      | $1031170.99   | 0.14%             | 2030-09-13      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Voya Financial Inc                                                                   | Voya Financial Inc COM                                      | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     33504 | NS      | $2288993.28   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent Inc                                                                         | Exponent Inc COM                                            | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |     35931 | NS      | $2344497.75   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                                                                            | Graco Inc COM                                               | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |     30447 | NS      | $2577338.55   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Ametek, Inc.                                                                         | Ametek, Inc. COM                                            | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     12157 | NS      | $2605974.52   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                                                                          | Rollins Inc COM                                             | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |     41582 | NS      | $2220894.62   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                                                                         | BACR V5.367 02/25/31                                        | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $2035303.12   | 0.28%             | 2031-02-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                                                         | NOC 5.2 06/01/54                                            | CUSIP: 666807CM2<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2305610.70   | 0.32%             | 2054-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| American Express Company                                                             | AXP V5.085 01/30/31                                         | CUSIP: 025816DY2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    737000 | PA      | $749642.33    | 0.10%             | 2031-01-30      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Gallagher Aj &Co                                                                     | AJG 5.15 02/15/35                                           | CUSIP: 04316JAN9<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992362.79    | 0.14%             | 2035-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V4.482 08/23/28                                          | CUSIP: 38141GZU1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5001110.25   | 0.69%             | 2028-08-23      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V5.123 02/01/29                                          | CUSIP: 61747YFA8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1011283.93   | 0.14%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ICON Investments Six DAC                                                             | ICLR 6 05/08/34                                             | CUSIP: 45115AAC8<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |   1250000 | PA      | $1267968.65   | 0.17%             | 2034-05-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Cal-Maine Foods Inc.                                                                 | Cal-Maine Foods Inc. COM NEW                                | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     31365 | NS      | $2482539.75   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON Investments Six DAC                                                             | ICLR 5.849 05/08/29                                         | CUSIP: 45115AAB0<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |   1250000 | PA      | $1274753.53   | 0.18%             | 2029-05-08      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                                     | MCD 5.45 08/14/53                                           | CUSIP: 58013MFW9<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2372548.68   | 0.33%             | 2053-08-14      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                      | CI 4.9 12/15/48                                             | CUSIP: 125523AK6<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1303412.72   | 0.18%             | 2048-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| American Water Capital Corp                                                          | AWK 5.15 03/01/34                                           | CUSIP: 03040WBD6<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4067420.36   | 0.56%             | 2034-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Murphy USA Inc.                                                                      | Murphy USA Inc. COM                                         | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |      6183 | NS      | $3054216.51   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                                                           | AMGN 3.15 02/21/40                                          | CUSIP: 031162CR9<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    750000 | PA      | $583840.76    | 0.08%             | 2040-02-21      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                        | CNC 2.45 07/15/28                                           | CUSIP: 15135BAY7<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $931888.50    | 0.13%             | 2028-07-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Westamerica Bancorp                                                                  | Westamerica Bancorp COM                                     | CUSIP: 957090103<br>LEI: 984500CF4F8115C11D96 | Long             | EC               | CORP              | US        |     26553 | NS      | $1384738.95   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Florida LLC                                                              | DUK 6.2 11/15/53                                            | CUSIP: 26444HAR2<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    500000 | PA      | $523933.50    | 0.07%             | 2053-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Amgen Inc.                                                                           | AMGN 2.8 08/15/41                                           | CUSIP: 031162DA5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $723166.01    | 0.10%             | 2041-08-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 3.55 03/22/51                                            | CUSIP: 92343VGB4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $698352.62    | 0.10%             | 2051-03-22      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Broadridge Financial Solutions Inc.                                                  | Broadridge Financial Solutions Inc. COM                     | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |     11184 | NS      | $1817176.32   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation                                                         | Costco Wholesale Corporation COM                            | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      2895 | NS      | $2884664.85   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                                                                     | AJG 5.75 03/02/53                                           | CUSIP: 04316JAE9<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $960234.21    | 0.13%             | 2053-03-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UBS AG Stamford Branch                                                               | UBS V4.302 03/16/29                                         | CUSIP: 90261AAG7<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998925.79    | 0.14%             | 2029-03-16      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AEP Transmission Company, LLC                                                        | AEP 5.4 03/15/53                                            | CUSIP: 00115AAQ2<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |    500000 | PA      | $470797.14    | 0.06%             | 2053-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Consolidated Edison Company of New York, Inc.                                        | ED 6.15 11/15/52                                            | CUSIP: 209111GD9<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1041054.60   | 0.14%             | 2052-11-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 4.125 02/15/36                                            | CUSIP: 91282CPZ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $295335.94    | 0.04%             | 2036-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Conagra Brands Inc                                                                   | CAG 5.3 11/01/38                                            | CUSIP: 205887CD2<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1861274.52   | 0.26%             | 2038-11-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc.                                                                          | Zoetis Inc. CL A                                            | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     19835 | NS      | $2344695.35   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                                                               | Trane Technologies PLC COM USD1                             | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      6412 | NS      | $2672136.88   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                                                                         | Fastenal Co. COM                                            | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     62190 | NS      | $2885616.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANS-ALLEGHENY INTERSTATE LINE CO                                                   | FE 5 01/15/31 144A                                          | CUSIP: 893045AF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1016295.56   | 0.14%             | 2031-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3 02/15/41                                             | CUSIP: 87264ABL8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1097414.07   | 0.15%             | 2041-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Garmin Ltd                                                                           | Garmin Ltd COM CHF10.00                                     | CUSIP: 000000000<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |     12303 | NS      | $2854419.03   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                                                                  | General Mills, Inc. COM                                     | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     53671 | NS      | $1997634.62   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                                       | MS V2.511 10/20/32 MTN                                      | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $883293.31    | 0.12%             | 2032-10-20      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| VERSANT MEDIA GROUP INC                                                              | Versant Media Group Inc. COM CL A                           | CUSIP: 925283103<br>LEI: 254900D2Q5F5F229PU30 | Long             | EC               | CORP              | US        |      3352 | NS      | $124091.04    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                                                                         | Reliance Inc COM                                            | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      8641 | NS      | $2626172.72   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                                                           | Unum Group COM                                              | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     32203 | NS      | $2351785.09   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME BANCSHARES INC                                                                  | Home BancShares Inc. COM                                    | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     89837 | NS      | $2419310.41   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V5.468 01/23/35                                         | CUSIP: 06051GMA4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2552802.85   | 0.35%             | 2035-01-23      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| PECO Energy Co.                                                                      | EXC 4.375 08/15/52                                          | CUSIP: 693304BE6<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3252873.12   | 0.45%             | 2052-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 4.85 01/15/29                                          | CUSIP: 87264ADE2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2529313.70   | 0.35%             | 2029-01-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                     | NRG 4.734 10/15/30 144A                                     | CUSIP: 629377DA7<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991276.50    | 0.14%             | 2030-10-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                                                                          | Walmart Inc COM                                             | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     22401 | NS      | $2783996.28   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.963 01/25/33                                         | CUSIP: 46647PCU8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $907583.60    | 0.12%             | 2033-01-25      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| Amphenol Corporation                                                                 | Amphenol Corporation CL A                                   | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     18467 | NS      | $2333305.45   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| The Toronto-Dominion Bank                                                            | TD 4.808 06/03/30 MTN                                       | CUSIP: 89115KAB6<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1008645.75   | 0.14%             | 2030-06-03      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| Primerica, Inc.                                                                      | Primerica, Inc. COM                                         | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |      9659 | NS      | $2419386.32   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca Finance LLC                                                              | AZN 2.25 05/28/31                                           | CUSIP: 04636NAB9<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $900299.94    | 0.12%             | 2031-05-28      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V5.449 07/20/29                                          | CUSIP: 61747YFF7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2544941.63   | 0.35%             | 2029-07-20      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 5.5 06/01/33                                            | CUSIP: 404119CQ0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2550897.80   | 0.35%             | 2033-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V5.727 04/25/30                                          | CUSIP: 38141GA87<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031873.98   | 0.14%             | 2030-04-25      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                                                                 | ELV 5.7 02/15/55                                            | CUSIP: 036752BE2<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    500000 | PA      | $473009.44    | 0.07%             | 2055-02-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Brady Corp                                                                           | Brady Corp CL A                                             | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |     31846 | NS      | $2587169.04   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V3.702 05/06/30                                         | CUSIP: 46647PBD7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    500000 | PA      | $487751.13    | 0.07%             | 2030-05-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Duke Energy Carolinas LLC                                                            | DUK 5.4 01/15/54                                            | CUSIP: 26442CBL7<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $949314.00    | 0.13%             | 2054-01-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 5.65 01/15/53                                          | CUSIP: 87264ACW3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1419541.29   | 0.20%             | 2053-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| W.w. Grainger Inc.                                                                   | W.w. Grainger Inc. COM                                      | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |      2475 | NS      | $2699754.75   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                                       | MS V5.424 07/21/34 MTN                                      | CUSIP: 61747YFG5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015041.96   | 0.14%             | 2034-07-21      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 2.375 07/15/31                                          | CUSIP: 404119CC1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $884132.49    | 0.12%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Mueller Industries Inc.                                                              | Mueller Industries Inc. COM                                 | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     21741 | NS      | $2408902.80   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.                                                    | PNC V5.582 06/12/29                                         | CUSIP: 693475BR5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1537323.65   | 0.21%             | 2029-06-12      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                                 | RY V5.153 02/04/31 GMTN                                     | CUSIP: 78017DAC2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2033341.00   | 0.28%             | 2031-02-04      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SLB LTD                                                                              | SLB Ltd. COM STK                                            | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     65027 | NS      | $3341737.53   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP                                             | Wabtec Corp COM                                             | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |     11692 | NS      | $2921947.72   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.7 05/14/45                                           | CUSIP: 00287YAS8<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    300000 | PA      | $267775.41    | 0.04%             | 2045-05-14      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Old Republic International Corporation                                               | Old Republic International Corporation COM                  | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     54682 | NS      | $2181811.80   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V4.182 01/23/30                                         | CUSIP: 95000U4D2<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1982589.02   | 0.27%             | 2030-01-23      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| Georgia Power Company                                                                | SO 4.55 03/15/30                                            | CUSIP: 373334KY6<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2008626.26   | 0.28%             | 2030-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                                                | AON 5.15 03/01/29                                           | CUSIP: 03740MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    182000 | PA      | $185929.39    | 0.03%             | 2029-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS 2.6 02/07/30                                             | CUSIP: 38141GXG4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $465230.42    | 0.06%             | 2030-02-07      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Smith(Ao)Corp                                                                        | Smith(Ao)Corp COM                                           | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |     37317 | NS      | $2460682.98   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                                                                    | BRO 4.95 03/17/52                                           | CUSIP: 115236AF8<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2085830.73   | 0.29%             | 2052-03-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Raymond James Financial Inc.                                                         | Raymond James Financial Inc. COM                            | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     15539 | NS      | $2249891.81   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Florida LLC                                                              | DUK 4.85 12/01/35                                           | CUSIP: 26444HAU5<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    267000 | PA      | $262185.53    | 0.04%             | 2035-12-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Companies, Inc.                                                     | MRSH 4.95 03/15/36                                          | CUSIP: 571748CF7<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991079.03    | 0.14%             | 2036-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                             | VST 4.6 10/15/30 144A                                       | CUSIP: 92840VAV4<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1470967.05   | 0.20%             | 2030-10-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| American Express Company                                                             | AXP V4.804 10/24/36                                         | CUSIP: 025816EM7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $967277.61    | 0.13%             | 2036-10-24      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 3.875 03/01/52                                           | CUSIP: 92343VGP3<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $731867.68    | 0.10%             | 2052-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co.                                                            | NEE 4.7 02/15/36                                            | CUSIP: 341081HA8<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1462738.67   | 0.20%             | 2036-02-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V5.499 01/23/35                                         | CUSIP: 95000U3K7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018272.78   | 0.14%             | 2035-01-23      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Watts Water Technologies Inc.                                                        | Watts Water Technologies Inc. CL A                          | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      9041 | NS      | $2624511.89   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V4.347 01/22/32                                         | CUSIP: 46647PFG6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1479148.23   | 0.20%             | 2032-01-22      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FedEx Corporation                                                                    | FDX 4.55 04/01/46 *                                         | CUSIP: 31428XDS2<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    750000 | PA      | $626493.82    | 0.09%             | 2046-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | CMCSA 3.75 04/01/40                                         | CUSIP: 20030NDH1<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $811275.80    | 0.11%             | 2040-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Verisk Analytics, Inc.                                                               | VRSK 5.25 03/15/35                                          | CUSIP: 92345YAL0<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992026.61    | 0.14%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V5.202 04/25/29                                         | CUSIP: 06051GLG2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1105000 | PA      | $1120895.24   | 0.15%             | 2029-04-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Dolby Laboratories Inc.                                                              | Dolby Laboratories Inc. COM CL A                            | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |     38863 | NS      | $2334111.78   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| LAKELAND FINANCIAL CORP                                                              | Lakeland Financial Corp. COM                                | CUSIP: 511656100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14016 | NS      | $804238.08    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CINTAS CORP                                                                          | Cintas Corporation COM                                      | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13269 | NS      | $2244318.66   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.069 06/01/29                                         | CUSIP: 46647PCJ3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $951650.00    | 0.13%             | 2029-06-01      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| Automatic Data Processing, Inc.                                                      | Automatic Data Processing, Inc. COM                         | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      9701 | NS      | $1971049.18   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                                                                  | Texas Roadhouse Inc COM                                     | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     15034 | NS      | $2482714.76   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                                       | MS V5.25 04/21/34 MTN                                       | CUSIP: 61747YFE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2006959.64   | 0.28%             | 2034-04-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                                                    | PNC V4.075 01/26/29                                         | CUSIP: 693475CG8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995111.83    | 0.14%             | 2029-01-26      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Chemed Corporation                                                                   | Chemed Corporation COM                                      | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      5832 | NS      | $2202979.68   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties LP                                                                   | VICI 5.125 05/15/32                                         | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |    750000 | PA      | $739447.11    | 0.10%             | 2032-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Everest Group Ltd                                                                    | Everest Group Ltd COM USD0.01                               | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      7355 | NS      | $2403981.75   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 2.55 03/21/31                                            | CUSIP: 92343VGJ7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    500000 | PA      | $454050.37    | 0.06%             | 2031-03-21      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Ecolab Inc.                                                                          | Ecolab Inc. COM                                             | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      9509 | NS      | $2529584.18   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Virginia Electric and Power Company                                                  | D 5.6 09/15/55 D                                            | CUSIP: 927804GW8<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    500000 | PA      | $476174.03    | 0.07%             | 2055-09-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                                     | BPLN 4.699 04/10/29                                         | CUSIP: 10373QBX7<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1012002.18   | 0.14%             | 2029-04-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | CMCSA 4 08/15/47                                            | CUSIP: 20030NBZ3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    500000 | PA      | $372517.94    | 0.05%             | 2047-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tractor Supply Co                                                                    | Tractor Supply Co COM                                       | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |     49906 | NS      | $2260741.80   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Companies, Inc.                                                     | MRSH 6.25 11/01/52                                          | CUSIP: 571748BS0<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1054613.39   | 0.15%             | 2052-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                      | CI 5.4 03/15/33                                             | CUSIP: 125523CS7<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1132246.90   | 0.16%             | 2033-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Sabine Pass Liquefaction, LLC                                                        | SPLLLC 4.2 03/15/28                                         | CUSIP: 785592AU0<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |   3750000 | PA      | $3735855.11   | 0.51%             | 2028-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                             | VST 5.7 12/30/34 144A                                       | CUSIP: 92840VAU6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2013586.00   | 0.28%             | 2034-12-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc.                                                                      | CRM 6.55 03/15/56                                           | CUSIP: 79466LAW4<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502070.87    | 0.07%             | 2056-03-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions Corp.                                                 | Cognizant Technology Solutions Corp. CL A                   | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     30069 | NS      | $1844733.15   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Tradeweb Markets Inc                                                                 | Tradeweb Markets Inc CL A                                   | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23207 | NS      | $2730535.62   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Foods Company                                                            | KHC 5.5 06/01/50                                            | CUSIP: 50077LBJ4<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2012857.25   | 0.28%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                                                        | ENBCN 4.6 06/20/28                                          | CUSIP: 29250NCH6<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $501386.11    | 0.07%             | 2028-06-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Commonwealth Edison Company                                                          | EXC 4.9 02/01/33                                            | CUSIP: 202795JX9<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504734.57    | 0.07%             | 2033-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AUGUSTA SPINCO CORP                                                                  | WAT 4.656 03/23/31                                          | CUSIP: 051473AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995669.13    | 0.14%             | 2031-03-23      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| Hancock Whitney Corporation                                                          | Hancock Whitney Corporation COM                             | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     39191 | NS      | $2492155.69   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                                                                       | C V5.174 09/11/36                                           | CUSIP: 172967QH7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991658.30    | 0.14%             | 2036-09-11      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Truist Bank (North Carolina)                                                         | TFC V4.136 10/23/29 BKNT                                    | CUSIP: 89788JAH2<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1486007.37   | 0.20%             | 2029-10-23      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| Gallagher Aj &Co                                                                     | AJG 6.75 02/15/54                                           | CUSIP: 04316JAG4<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1080981.26   | 0.15%             | 2054-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 4.78 02/15/35                                            | CUSIP: 92343VGY4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1597598.29   | 0.22%             | 2035-02-15      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Balchem Corp                                                                         | Balchem Corp COM                                            | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |     16274 | NS      | $2758117.52   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmarket Corporation                                                                | Newmarket Corporation COM                                   | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      3634 | NS      | $2329212.30   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                                                                   | SANTAN 4.551 11/06/30                                       | CUSIP: 05971KAR0<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   1000000 | PA      | $986105.43    | 0.14%             | 2030-11-06      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc.                                                                      | CRM 4.9 09/15/31                                            | CUSIP: 79466LAS3<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998820.22    | 0.14%             | 2031-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Iqvia Inc                                                                            | IQV 5.7 05/15/28                                            | CUSIP: 46266TAC2<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2039850.00   | 0.28%             | 2028-05-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 3.5 07/15/51                                            | CUSIP: 404119CB3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $1656100.98   | 0.23%             | 2051-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital Inc.                                                                 | AHTLN 5.95 10/15/33 144A                                    | CUSIP: 045054AR4<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031037.56   | 0.14%             | 2033-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Watsco Inc                                                                           | Watsco Inc COM                                              | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |      7409 | NS      | $2695320.11   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Solventum Corp.                                                                      | SOLV 5.9 04/30/54                                           | CUSIP: 83444MAS0<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1143987.68   | 0.16%             | 2054-04-30      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| The Allstate Corporation                                                             | The Allstate Corporation COM                                | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     11989 | NS      | $2485799.26   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties LP                                                                   | VICI 5.125 11/15/31                                         | CUSIP: 925650AH6<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $993260.94    | 0.14%             | 2031-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Emcor Group Inc                                                                      | Emcor Group Inc COM                                         | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      4078 | NS      | $3010828.18   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International Of Washington Inc.                                          | Expeditors International Of Washington Inc. COM             | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |     16748 | NS      | $2398816.04   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V3.974 02/07/30 MTN                                     | CUSIP: 06051GHQ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $493232.84    | 0.07%             | 2030-02-07      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| American Express Company                                                             | AXP V4.918 07/20/33                                         | CUSIP: 025816EK1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002179.23   | 0.14%             | 2033-07-20      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V4.078 09/15/29                                         | CUSIP: 95000U4A8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $989170.02    | 0.14%             | 2029-09-15      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL & GAS CORP                                                              | Magnolia Oil & Gas Corporation CL A                         | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    114012 | NS      | $3599358.84   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V4.271 07/23/29 MTN                                     | CUSIP: 06051GHM4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498045.41    | 0.07%             | 2029-07-23      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 2.875 11/20/50                                           | CUSIP: 92343VFU3<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    500000 | PA      | $303511.02    | 0.04%             | 2050-11-20      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| FIRST BANCORP (PUERTO RICO)                                                          | First Bancorp Puerto Rico COM NEW                           | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |    120392 | NS      | $2571573.12   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc.                                                                        | Assurant Inc. COM                                           | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     10362 | NS      | $2256947.22   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Florida Power & Light Co.                                                            | NEE 5.6 06/15/54                                            | CUSIP: 341081GV3<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1714416.29   | 0.24%             | 2054-06-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BANK FIRST CORP                                                                      | Bank First Corp. COM                                        | CUSIP: 06211J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20151 | NS      | $2721594.06   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                                                                    | BRO 5.55 06/23/35                                           | CUSIP: 115236AM3<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    400000 | PA      | $399682.82    | 0.06%             | 2035-06-23      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                      | CI 6 01/15/56                                               | CUSIP: 125523DA5<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002317.87   | 0.14%             | 2056-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CF Industries Holdings, Inc.                                                         | CF Industries Holdings, Inc. COM                            | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     32269 | NS      | $4189806.96   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                                                                  | Abbott Laboratories COM                                     | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     19920 | NS      | $2045186.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Indiana Michigan Power Company                                                       | AEP 5.625 04/01/53                                          | CUSIP: 454889AV8<br>LEI: JHR9V15J0ZRG02MIRD06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $966475.38    | 0.13%             | 2053-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Zions Bancorporation Natl Assn Global Bank                                           | ZION V4.483 02/09/29                                        | CUSIP: 98971DAE0<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1985811.52   | 0.27%             | 2029-02-09      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corporation                                                         | General Dynamics Corporation COM                            | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      7415 | NS      | $2544976.30   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Avery Dennison Corporation                                                           | Avery Dennison Corporation COM                              | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |     13723 | NS      | $2369687.64   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V5.288 04/25/34                                         | CUSIP: 06051GLH0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3543868.16   | 0.49%             | 2034-04-25      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| MSC Industrial Direct Co Inc.                                                        | MSC Industrial Direct Co Inc. CL A                          | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     29676 | NS      | $2738204.52   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Operations Co LLC                                                             | VST 5.35 01/31/36 144A                                      | CUSIP: 92840VAZ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $978863.50    | 0.13%             | 2036-01-31      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Travelers Companies, Inc.                                                            | Travelers Companies, Inc. COM                               | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      8605 | NS      | $2509906.40   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V4.255 10/22/31                                         | CUSIP: 46647PFD3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $984646.28    | 0.14%             | 2031-10-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V1.992 01/27/32                                          | CUSIP: 38141GXR0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $877920.49    | 0.12%             | 2032-01-27      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Global Payments Inc                                                                  | GPN 4.875 11/15/30                                          | CUSIP: 37940XAW2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1228180.05   | 0.17%             | 2030-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                                                      | Microsoft Corp. COM                                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      5160 | NS      | $1910077.20   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc.                                                            | Lennox International Inc. COM                               | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |      5141 | NS      | $2386092.33   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                                                           | AMGN 4.2 02/19/31                                           | CUSIP: 031162DV9<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986546.02    | 0.14%             | 2031-02-19      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V3.436 02/24/43                                          | CUSIP: 38141GZN7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $376559.12    | 0.05%             | 2043-02-24      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                            | RTX 6.4 03/15/54                                            | CUSIP: 75513ECX7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1079035.36   | 0.15%             | 2054-03-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Indiana Michigan Power Company                                                       | AEP 3.25 05/01/51                                           | CUSIP: 454889AU0<br>LEI: JHR9V15J0ZRG02MIRD06 | Long             | DBT              | CORP              | US        |    500000 | PA      | $328049.93    | 0.05%             | 2051-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| The Procter & Gamble Co.                                                             | The Procter & Gamble Co. COM                                | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     17415 | NS      | $2515422.60   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BP Capital Markets America, Inc.                                                     | BPLN 1.749 08/10/30                                         | CUSIP: 10373QBM1<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    500000 | PA      | $447448.14    | 0.06%             | 2030-08-10      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Korn Ferry                                                                           | Korn Ferry COM NEW                                          | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     37802 | NS      | $2379635.90   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                                                                             | Bank OZK COM                                                | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     54230 | NS      | $2488614.70   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corporation                                                         | NOC 5.05 11/15/40                                           | CUSIP: 666807BD3<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    500000 | PA      | $482535.41    | 0.07%             | 2040-11-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                         | RCL 4.75 05/15/33                                           | CUSIP: 78017TAC7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1000000 | PA      | $965847.75    | 0.13%             | 2033-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Dynex Capital Inc                                                                    | Dynex Capital Inc COM                                       | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |    178139 | NS      | $2273053.64   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V5.012 01/23/30                                         | CUSIP: 46647PEB8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1495846.19   | 0.21%             | 2030-01-23      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 4.3 11/15/32                                           | CUSIP: 11135FAS0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1217744.36   | 0.17%             | 2032-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                         | UBS V4.398 09/23/31 144A                                    | CUSIP: 225401BM9<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    444000 | PA      | $436006.15    | 0.06%             | 2031-09-23      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| AEP Transmission Company, LLC                                                        | AEP 2.75 08/15/51 N                                         | CUSIP: 00115AAN9<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1205641.08   | 0.17%             | 2051-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Citibank, N.A.                                                                       | C 4.914 05/29/30 .                                          | CUSIP: 17325FBP2<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015813.08   | 0.14%             | 2030-05-29      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                                                    | Johnson & Johnson COM                                       | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     12059 | NS      | $2947701.96   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corporation                                                            | UNP 4.95 05/15/53                                           | CUSIP: 907818GF9<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2237543.28   | 0.31%             | 2053-05-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 1.65 02/01/28                                             | CUSIP: 00206RKG6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    500000 | PA      | $476616.85    | 0.07%             | 2028-02-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | Comcast Corporation CL A                                    | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     83498 | NS      | $2397227.58   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds                                         | Morgan Stanley Institutional Liquidity Funds TREAS PTF INST | CUSIP: 61747C582<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |   3899147 | NS      | $3899146.84   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc.                                                                        | Woodward Inc. COM                                           | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |      8254 | NS      | $2954271.68   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| GENPACT LTD                                                                          | Genpact Ltd. COM STK USD0.01                                | CUSIP: 000000000<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | BM        |     53349 | NS      | $1987250.25   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.875 03/15/30                                         | CUSIP: 00287YDZ9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2040379.94   | 0.28%             | 2030-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V2.884 10/22/30 MTN                                     | CUSIP: 06051GHX0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $473029.27    | 0.07%             | 2030-10-22      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                        | USB V5.384 01/23/30                                         | CUSIP: 91159HJQ4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1536401.46   | 0.21%             | 2030-01-23      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Duke Energy Carolinas LLC                                                            | DUK 5.35 01/15/53                                           | CUSIP: 26442CBK9<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1875416.92   | 0.26%             | 2053-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                                             | LLOYDS V5.721 06/05/30                                      | CUSIP: 53944YBA0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2250000 | PA      | $2323997.26   | 0.32%             | 2030-06-05      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                                                         | MAR 4.5 05/01/33                                            | CUSIP: 571903BY8<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $966624.66    | 0.13%             | 2033-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cabot Corporation                                                                    | Cabot Corporation COM                                       | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     37656 | NS      | $2835873.36   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                                                                              | ITT Inc COM                                                 | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     14384 | NS      | $2740583.52   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                                                                  | GPN 5.55 11/15/35                                           | CUSIP: 37940XAY8<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2169266.40   | 0.30%             | 2035-11-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | CMCSA 3.25 11/01/39                                         | CUSIP: 20030NCY5<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    500000 | PA      | $386254.84    | 0.05%             | 2039-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V5.299 07/24/29                                         | CUSIP: 46647PDU7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018794.12   | 0.14%             | 2029-07-24      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Public Service Electric & Gas Co.                                                    | PEG 5.45 08/01/53                                           | CUSIP: 74456QCP9<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |    500000 | PA      | $481957.65    | 0.07%             | 2053-08-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Public Service Electric & Gas Co.                                                    | PEG 5.45 03/01/54 MTN                                       | CUSIP: 74456QCR5<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1672428.99   | 0.23%             | 2054-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Virginia Electric and Power Company                                                  | D 4.95 03/15/36                                             | CUSIP: 927804GX6<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $975223.50    | 0.13%             | 2036-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                                                        | ENBCN 4.2 11/20/28                                          | CUSIP: 29250NCM5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1489786.46   | 0.21%             | 2028-11-20      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Assured Guaranty Ltd.                                                                | Assured Guaranty Ltd. COM USD0.01                           | CUSIP: 000000000<br>LEI: 549300BBOQUJEPH87M14 | Long             | EC               | CORP              | BM        |     27769 | NS      | $2262618.12   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 2.05 02/15/28                                          | CUSIP: 87264ACA1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    750000 | PA      | $719670.63    | 0.10%             | 2028-02-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                                                             | Visa Inc COM CL A                                           | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      7118 | NS      | $2151344.32   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                                                                      | CI 5 05/15/29                                               | CUSIP: 125523CT5<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1171031.91   | 0.16%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                                                            | TD 4.411 01/13/31                                           | CUSIP: 89115KAM2<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $990891.36    | 0.14%             | 2031-01-13      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| Packaging Corporation of America                                                     | PKG 5.2 08/15/35                                            | CUSIP: 695156AY5<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992560.23    | 0.14%             | 2035-08-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| GE Aerospace                                                                         | GE Aerospace COM NEW                                        | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      8102 | NS      | $2299104.54   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc                                                                   | CAG 5 08/01/30                                              | CUSIP: 205887CK6<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998424.20    | 0.14%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V2.572 10/20/32                                         | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $445026.16    | 0.06%             | 2032-10-20      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V4.431 01/23/30 GMTN                                     | CUSIP: 6174468G7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497869.48    | 0.07%             | 2030-01-23      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                               | TFC V7.161 10/30/29 MTN                                     | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2126448.64   | 0.29%             | 2029-10-30      | Fixed         | 7.16%                 | No            |                  2 | On Loan: No      |
| Brown & Brown Inc                                                                    | BRO 5.65 06/11/34                                           | CUSIP: 115236AG6<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2778231.58   | 0.38%             | 2034-06-11      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Essent Group Ltd.                                                                    | Essent Group Ltd. COM USD0.015                              | CUSIP: 000000000<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | BM        |     38391 | NS      | $2243570.04   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP                                                                         | Chevron Corp. COM                                           | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16374 | NS      | $3387780.60   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V2.676 06/19/41 MTN                                     | CUSIP: 06051GJE0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $717271.48    | 0.10%             | 2041-06-19      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V1.898 07/23/31 MTN                                     | CUSIP: 06051GJF7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $445437.41    | 0.06%             | 2031-07-23      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Price T Rowe Group Inc.                                                              | Price T Rowe Group Inc. COM                                 | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |     24376 | NS      | $2197252.64   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey'S General Stores Inc.                                                          | Casey'S General Stores Inc. COM                             | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      4517 | NS      | $3287743.62   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 6.05 02/15/63                                           | CUSIP: 91324PET5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000574.96   | 0.14%             | 2063-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.25 11/21/49                                          | CUSIP: 00287YCB3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $812290.41    | 0.11%             | 2049-11-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 2.65 11/20/40                                            | CUSIP: 92343VFT6<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    500000 | PA      | $351208.66    | 0.05%             | 2040-11-20      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-27

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

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

**Title:** Treasurer, Chief Financial Officer and Chief Accounting Officer