# EDGAR Filing Document

**Accession Number:** 0000778207
**File Stem:** 0001410368-25-027186
**Filing Date:** 2025-11
**Character Count:** 413931
**Document Hash:** 243ebdd712f825e260fa925bf7b18f26
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-027186.hdr.sgml**: 20251120

**ACCESSION NUMBER**: 0001410368-25-027186

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251120

**DATE AS OF CHANGE**: 20251120

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRANSAMERICA SERIES TRUST
- **CENTRAL INDEX KEY:** 0000778207

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04419
- **FILM NUMBER:** 251501209

**BUSINESS ADDRESS:**
- **STREET 1:** 1801 CALIFORNIA STREET
- **STREET 2:** SUITE 5200
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202
- **BUSINESS PHONE:** 720-482-8836

**MAIL ADDRESS:**
- **STREET 1:** 1801 CALIFORNIA STREET
- **STREET 2:** SUITE 5200
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AEGON/TRANSAMERICA SERIES TRUST
- **DATE OF NAME CHANGE:** 20050511

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AEGON/TRANSAMERICA SERIES FUND INC
- **DATE OF NAME CHANGE:** 20010501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WRL SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Transamerica Aegon Core Bond VP (Series ID: S000007896)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021437 | Initial      |  |
| C000021438 | Service      |  |

## Nport-Ex

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS**

**At September 30, 2025**

**(unaudited)**

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

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **U.S. GOVERNMENT OBLIGATIONS - 31.0%**  | **U.S. GOVERNMENT OBLIGATIONS - 31.0%**  | **U.S. GOVERNMENT OBLIGATIONS - 31.0%**  |
| **U.S. Treasury - 29.1%**  | **U.S. Treasury - 29.1%**  | **U.S. Treasury - 29.1%**  |
| U.S. Treasury Bonds |  |  |
| 1.25%, 05/15/2050 | $2388000 | $1171333 |
| 1.38%, 11/15/2040 | 6400700 | 4175957 |
| 1.88%, 02/15/2051 - 11/15/2051 | 4164800 | 2371082 |
| 2.00%, 02/15/2050 | 6673500 | 3990805 |
| 2.25%, 05/15/2041 - 02/15/2052 | 9133900 | 6392305 |
| 2.38%, 05/15/2051 | 2728300 | 1755277 |
| 2.50%, 02/15/2045 - 05/15/2046 | 4651000 | 3298861 |
| 2.75%, 08/15/2047 - 11/15/2047 | 3635600 | 2632994 |
| 2.88%, 08/15/2045 - 05/15/2049 | 7924500 | 5910416 |
| 3.00%, 08/15/2048 - 08/15/2052 | 7182800 | 5360929 |
| 3.13%, 05/15/2048 | 2660000 | 2051109 |
| 3.50%, 02/15/2039 | 1395000 | 1276207 |
| 3.63%, 02/15/2044 - 05/15/2053 | 1706100 | 1435767 |
| 3.88%, 02/15/2043 | 2731000 | 2478703 |
| 4.00%, 11/15/2052 | 1172000 | 1037174 |
| 4.13%, 08/15/2044 - 08/15/2053 | 1604000 | 1467690 |
| 4.25%, 02/15/2054 - 08/15/2054 | 1762200 | 1626666 |
| 4.50%, 11/15/2054 | 382000 | 367809 |
| 4.63%, 05/15/2044 - 02/15/2055 | 4305000 | 4239354 |
| 4.75%, 11/15/2043 - 08/15/2055 | 13091300 | 13141791 |
| 5.00%, 05/15/2045 | 4737000 | 4919078 |
| 5.25%, 02/15/2029 | 736800 | 775367 |
| U.S. Treasury Notes |  |  |
| 0.63%, 05/15/2030 - 08/15/2030 | 32234000 | 27808879 |
| 1.25%, 11/30/2026 - 12/31/2026 | 3139000 | 3047852 |
| 1.38%, 11/15/2031 | 2544000 | 2201951 |
| 1.50%, 01/31/2027 - 02/15/2030 | 3250500 | 3020991 |
| 1.63%, 05/15/2026 - 05/15/2031 | 14907300 | 14539852 |
| 1.88%, 02/15/2032 | 9303000 | 8253505 |
| 2.25%, 11/15/2027 | 452700 | 440109 |
| 2.63%, 01/31/2026 - 02/15/2029 | 10039000 | 9979593 |
| 2.75%, 08/15/2032 | 3382000 | 3144071 |
| 3.13%, 08/31/2027 | 5265000 | 5216258 |
| 3.38%, 05/15/2033 | 1284000 | 1233342 |
| 3.63%, 05/31/2028 | 1286000 | 1286201 |
| 3.75%, 12/31/2030 | 1681000 | 1679161 |
| 3.88%, 07/31/2027 - 08/15/2034 | 28655000 | 28783966 |
| 4.00%, 06/30/2028 - 07/31/2032 | 12845500 | 12946751 |
| 4.13%, 09/30/2027 - 11/15/2032 | 14467300 | 14638349 |
| 4.25%, 02/28/2031 - 08/15/2035 | 5405400 | 5479770 |
| 4.50%, 05/31/2029 | 2010000 | 2066374 |
| 4.63%, 04/30/2029 | 755000 | 779095 |
|  |  | 218422744 |
| **U.S. Treasury Inflation-Protected Securities - 1.9%**  | **U.S. Treasury Inflation-Protected Securities - 1.9%**  | **U.S. Treasury Inflation-Protected Securities - 1.9%**  |
| U.S. Treasury Inflation-Protected Indexed <br> Bonds |  |  |
| 1.50%, 02/15/2053 | 3429794 | 2743769 |
| 2.50%, 01/15/2029 | 7544365 | 7882561 |
| U.S. Treasury Inflation-Protected Indexed <br> Notes |  |  |
| 0.13%, 07/15/2030 | 3782280 | 3595899 |
|  |  | 14222229 |
| &nbsp;&nbsp; **Total U.S. Government Obligations** <br>**(Cost $233,290,999)**<br>|  | 232644973 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES - 31.0%**  | **CORPORATE DEBT SECURITIES - 31.0%**  | **CORPORATE DEBT SECURITIES - 31.0%**  |
| **Aerospace & Defense - 1.0%**  | **Aerospace & Defense - 1.0%**  | **Aerospace & Defense - 1.0%**  |
| Boeing Co. |  |  |
| 5.81%, 05/01/2050 | $1077000 | $1075992 |
| 6.53%, 05/01/2034 | 1647000 | 1820703 |
| 6.86%, 05/01/2054 | 561000 | 639934 |
| General Electric Co. |  |  |
| 4.13%, 10/09/2042 | 442000 | 383610 |
| 4.30%, 07/29/2030 | 894000 | 899311 |
| 4.50%, 03/11/2044 | 1694000 | 1549363 |
| HEICO Corp. |  |  |
| 5.35%, 08/01/2033 | 1138000 | 1180573 |
|  |  | 7549486 |
| **Automobile Components - 0.2%**  | **Automobile Components - 0.2%**  | **Automobile Components - 0.2%**  |
| Aptiv Swiss Holdings Ltd. |  |  |
| 3.25%, 03/01/2032 | 704000 | 647529 |
| ZF North America Capital, Inc. |  |  |
| 6.88%, 04/23/2032 <sup>(A)</sup> <br>| 1028000 | 984214 |
|  |  | 1631743 |
| **Automobiles - 0.5%**  | **Automobiles - 0.5%**  | **Automobiles - 0.5%**  |
| General Motors Co. |  |  |
| 5.35%, 04/15/2028 | 564000 | 577061 |
| 6.25%, 10/02/2043 | 299000 | 304062 |
| Hyundai Capital America |  |  |
| 5.40%, 06/23/2032 <sup>(A)</sup> <br>| 1798000 | 1851168 |
| Volkswagen Group of America <br> Finance LLC |  |  |
| 4.85%, 09/11/2030 <sup>(A)</sup> <br>| 1081000 | 1085510 |
|  |  | 3817801 |
| **Banks - 5.5%**  | **Banks - 5.5%**  | **Banks - 5.5%**  |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 03/14/2027, <br>5.55% <sup>(B)</sup>, 03/14/2028<br>| 1000000 | 1018063 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 05/09/2035, <br>5.46% <sup>(B)</sup>, 05/09/2036<br>| 1961000 | 2044429 |
| &nbsp;&nbsp;&nbsp; Fixed until 09/15/2028, <br>5.82% <sup>(B)</sup>, 09/15/2029<br>| 3659000 | 3826199 |
| Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 07/21/2034, <br>5.61% <sup>(B)</sup>, 07/21/2039<br>| 414000 | 431770 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 02/25/2035, <br>5.79% <sup>(B)</sup>, 02/25/2036<br>| 731000 | 762883 |
| &nbsp;&nbsp;&nbsp; Fixed until 11/02/2025, <br>7.33% <sup>(B)</sup>, 11/02/2026<br>| 1604000 | 1607693 |
| CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 09/13/2033, <br>6.84% <sup>(B)</sup>, 09/13/2034 <sup>(A)</sup> <br>| 2418000 | 2694317 |
| Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 01/13/2030, <br>5.25% <sup>(B)</sup>, 01/13/2031<br>| 848000 | 875642 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 05/25/2033, <br>6.17% <sup>(B)</sup>, 05/25/2034<br>| 529000 | 562863 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 10/21/2031, <br>2.65% <sup>(B)</sup>, 10/21/2032<br>| 1525000 | 1371478 |

---

**Transamerica Series Trust**

**Page 1**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 11/21/2032, <br>8.25% <sup>(B)</sup>, 11/21/2033 <sup>(A)</sup> <br>| $1238000 | $1461003 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 04/22/2026, <br>1.58% <sup>(B)</sup>, 04/22/2027<br>| 1621000 | 1597704 |
| &nbsp;&nbsp;&nbsp; Fixed until 01/23/2029, <br>5.01% <sup>(B)</sup>, 01/23/2030<br>| 3080000 | 3155308 |
| &nbsp;&nbsp;&nbsp; Fixed until 07/23/2035, <br>5.58% <sup>(B)</sup>, 07/23/2036<br>| 1529000 | 1585087 |
| &nbsp;&nbsp;&nbsp; Fixed until 04/22/2034, <br>5.77% <sup>(B)</sup>, 04/22/2035<br>| 510000 | 543347 |
| &nbsp;&nbsp;&nbsp; Fixed until 10/23/2028, <br>6.09% <sup>(B)</sup>, 10/23/2029<br>| 555000 | 585678 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 07/08/2030, <br>5.18% <sup>(B)</sup>, 07/08/2031<br>| 1194000 | 1222783 |
| &nbsp;&nbsp;&nbsp; Fixed until 01/16/2035, <br>5.39% <sup>(B)</sup>, 01/16/2036<br>| 392000 | 397409 |
| &nbsp;&nbsp;&nbsp; Fixed until 10/30/2028, <br>7.41% <sup>(B)</sup>, 10/30/2029<br>| 535000 | 581179 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 07/19/2034, <br>5.32% <sup>(B)</sup>, 07/19/2035<br>| 908000 | 936919 |
| &nbsp;&nbsp;&nbsp; Fixed until 01/18/2034, <br>5.47% <sup>(B)</sup>, 01/18/2035<br>| 683000 | 711375 |
| &nbsp;&nbsp;&nbsp; Fixed until 04/18/2029, <br>5.66% <sup>(B)</sup>, 04/18/2030<br>| 2640000 | 2756726 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 03/01/2034, <br>5.78% <sup>(B)</sup>, 03/01/2035<br>| 1509000 | 1591292 |
| PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 07/21/2035, <br>5.37% <sup>(B)</sup>, 07/21/2036<br>| 761000 | 783121 |
| &nbsp;&nbsp;&nbsp; Fixed until 08/18/2033, <br>5.94% <sup>(B)</sup>, 08/18/2034<br>| 1082000 | 1160598 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 01/26/2033, <br>5.12% <sup>(B)</sup>, 01/26/2034<br>| 1802000 | 1830831 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 09/23/2030, <br>4.40% <sup>(B)</sup>, 09/23/2031 <sup>(A)</sup> <br>| 691000 | 688656 |
| &nbsp;&nbsp;&nbsp; Fixed until 08/12/2032, <br>6.54% <sup>(B)</sup>, 08/12/2033 <sup>(A)</sup> <br>| 1384000 | 1526668 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 01/24/2030, <br>5.24% <sup>(B)</sup>, 01/24/2031<br>| 1182000 | 1222906 |
| &nbsp;&nbsp;&nbsp; Fixed until 04/23/2035, <br>5.61% <sup>(B)</sup>, 04/23/2036<br>| 1444000 | 1515407 |
|  |  | 41049334 |
| **Beverages - 0.1%**  | **Beverages - 0.1%**  | **Beverages - 0.1%**  |
| Anheuser-Busch InBev Worldwide, Inc. |  |  |
| 4.44%, 10/06/2048 | 1083000 | 941169 |
| **Biotechnology - 0.5%**  | **Biotechnology - 0.5%**  | **Biotechnology - 0.5%**  |
| Amgen, Inc. |  |  |
| 2.80%, 08/15/2041 | 656000 | 482539 |
| 5.60%, 03/02/2043 | 627000 | 635309 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| CSL Finance PLC |  |  |
| 4.63%, 04/27/2042 <sup>(A)</sup> <br>| $650000 | $592916 |
| Gilead Sciences, Inc. |  |  |
| 5.10%, 06/15/2035 | 1089000 | 1118845 |
| Royalty Pharma PLC |  |  |
| 2.20%, 09/02/2030 | 856000 | 768514 |
|  |  | 3598123 |
| **Building Products - 0.4%**  | **Building Products - 0.4%**  | **Building Products - 0.4%**  |
| Amrize Finance U.S. LLC |  |  |
| 4.75%, 09/22/2046 <sup>(A)</sup> <br>| 420000 | 372112 |
| 5.40%, 04/07/2035 <sup>(A)</sup> <br>| 742000 | 764361 |
| Carlisle Cos., Inc. |  |  |
| 5.25%, 09/15/2035 | 457000 | 462530 |
| Owens Corning |  |  |
| 4.30%, 07/15/2047 | 1056000 | 870257 |
| Vulcan Materials Co. |  |  |
| 5.35%, 12/01/2034 | 830000 | 856166 |
|  |  | 3325426 |
| **Chemicals - 0.2%**  | **Chemicals - 0.2%**  | **Chemicals - 0.2%**  |
| Nutrien Ltd. |  |  |
| 4.90%, 03/27/2028 | 667000 | 678553 |
| OCP SA |  |  |
| 6.75%, 05/02/2034 <sup>(A)</sup> <br>| 367000 | 398958 |
|  |  | 1077511 |
| **Commercial Services & Supplies - 1.2%**  | **Commercial Services & Supplies - 1.2%**  | **Commercial Services & Supplies - 1.2%**  |
| ADT Security Corp. |  |  |
| 4.13%, 08/01/2029 <sup>(A)</sup> <br>| 821000 | 793920 |
| Ashtead Capital, Inc. |  |  |
| 5.55%, 05/30/2033 <sup>(A)</sup> <br>| 1137000 | 1172752 |
| Element Fleet Management Corp. |  |  |
| 5.04%, 03/25/2030 <sup>(A)</sup> <br>| 1929000 | 1967695 |
| GXO Logistics, Inc. |  |  |
| 2.65%, 07/15/2031 | 1855000 | 1653259 |
| 6.50%, 05/06/2034 | 639000 | 687024 |
| Herc Holdings, Inc. |  |  |
| 7.00%, 06/15/2030 <sup>(A)</sup> <br>| 683000 | 709450 |
| Quanta Services, Inc. |  |  |
| 2.90%, 10/01/2030 | 1229000 | 1147327 |
| 5.25%, 08/09/2034 | 57000 | 58437 |
| Veralto Corp. |  |  |
| 5.45%, 09/18/2033 | 701000 | 733049 |
|  |  | 8922913 |
| **Communications Equipment - 0.8%**  | **Communications Equipment - 0.8%**  | **Communications Equipment - 0.8%**  |
| NTT Finance Corp. |  |  |
| 4.62%, 07/16/2028 <sup>(A)</sup> <br>| 890000 | 898801 |
| T-Mobile USA, Inc. |  |  |
| 3.50%, 04/15/2031 | 1096000 | 1042555 |
| 3.88%, 04/15/2030 | 693000 | 679548 |
| 5.15%, 04/15/2034 | 1131000 | 1156985 |
| Verizon Communications, Inc. |  |  |
| 1.68%, 10/30/2030 | 1227000 | 1078930 |
| 2.99%, 10/30/2056 | 2104000 | 1297306 |
|  |  | 6154125 |

---

**Transamerica Series Trust**

**Page 2**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Construction & Engineering - 0.1%**  | **Construction & Engineering - 0.1%**  | **Construction & Engineering - 0.1%**  |
| Sitios Latinoamerica SAB de CV |  |  |
| 6.00%, 11/25/2029 <sup>(A)</sup> <br>| $442000 | $459371 |
| **Consumer Staples Distribution & Retail - 0.3%**  | **Consumer Staples Distribution & Retail - 0.3%**  | **Consumer Staples Distribution & Retail - 0.3%**  |
| 7-Eleven, Inc. |  |  |
| 1.80%, 02/10/2031 <sup>(A)</sup> <br>| 1256000 | 1091681 |
| Lowe's Cos., Inc. |  |  |
| 3.75%, 04/01/2032 | 1452000 | 1388902 |
|  |  | 2480583 |
| **Distributors - 0.1%**  | **Distributors - 0.1%**  | **Distributors - 0.1%**  |
| LKQ Corp. |  |  |
| 6.25%, 06/15/2033 | 621000 | 662698 |
| **Diversified REITs - 1.0%**  | **Diversified REITs - 1.0%**  | **Diversified REITs - 1.0%**  |
| GLP Capital LP/GLP Financing II, Inc. |  |  |
| 5.25%, 02/15/2033 | 1293000 | 1295108 |
| Safehold GL Holdings LLC |  |  |
| 6.10%, 04/01/2034 | 848000 | 893341 |
| SBA Tower Trust |  |  |
| 6.60%, 11/15/2052 <sup>(A)</sup> <br>| 2168000 | 2226062 |
| VICI Properties LP |  |  |
| 4.95%, 02/15/2030 | 1101000 | 1113770 |
| Weyerhaeuser Co. |  |  |
| 4.00%, 04/15/2030 | 1175000 | 1158773 |
| WP Carey, Inc. |  |  |
| 5.38%, 06/30/2034 | 896000 | 918125 |
|  |  | 7605179 |
| **Electric Utilities - 1.4%**  | **Electric Utilities - 1.4%**  | **Electric Utilities - 1.4%**  |
| Black Hills Corp. |  |  |
| 4.55%, 01/31/2031 | 568000 | 567973 |
| Chile Electricity Lux MPC II SARL |  |  |
| 5.58%, 10/20/2035 <sup>(A)</sup> <br>| 628536 | 649138 |
| Cleveland Electric Illuminating Co. |  |  |
| 5.95%, 12/15/2036 | 107000 | 113819 |
| CMS Energy Corp. |  |  |
| 2.95%, 02/15/2027 | 149000 | 146220 |
| 4.88%, 03/01/2044 | 189000 | 171275 |
| DTE Electric Co. |  |  |
| 4.30%, 07/01/2044 | 1918000 | 1653103 |
| Duke Energy Corp. |  |  |
| 3.75%, 09/01/2046 | 1876000 | 1438143 |
| 4.95%, 09/15/2035 | 1722000 | 1710699 |
| Duke Energy Progress LLC |  |  |
| 3.60%, 09/15/2047 | 1300000 | 986242 |
| NRG Energy, Inc. |  |  |
| 6.00%, 02/01/2033 <sup>(A)</sup> <br>| 140000 | 142180 |
| Oncor Electric Delivery Co. LLC |  |  |
| 5.30%, 06/01/2042 | 70000 | 69067 |
| Pacific Gas & Electric Co. |  |  |
| 3.75%, 08/15/2042 | 129000 | 98156 |
| Public Service Co. of Oklahoma |  |  |
| 6.63%, 11/15/2037 | 230000 | 256144 |
| Southern Power Co. |  |  |
| 4.25%, 10/01/2030 | 543000 | 539726 |
| 4.90%, 10/01/2035 | 732000 | 721899 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Electric Utilities (continued)** | **Electric Utilities (continued)** | **Electric Utilities (continued)** |
| Vistra Operations Co. LLC |  |  |
| 6.88%, 04/15/2032 <sup>(A)</sup> <br>| $1011000 | $1057382 |
|  |  | 10321166 |
| **Electronic Equipment, Instruments & Components - 0.4%**  | **Electronic Equipment, Instruments & Components - 0.4%**  | **Electronic Equipment, Instruments & Components - 0.4%**  |
| Arrow Electronics, Inc. |  |  |
| 5.88%, 04/10/2034 | 553000 | 579574 |
| Keysight Technologies, Inc. |  |  |
| 4.95%, 10/15/2034 | 450000 | 452847 |
| Sensata Technologies, Inc. |  |  |
| 4.38%, 02/15/2030 <sup>(A)</sup> <br>| 899000 | 867675 |
| Tyco Electronics Group SA |  |  |
| 5.00%, 05/09/2035 | 1273000 | 1291612 |
|  |  | 3191708 |
| **Energy Equipment & Services - 0.1%**  | **Energy Equipment & Services - 0.1%**  | **Energy Equipment & Services - 0.1%**  |
| Schlumberger Holdings Corp. |  |  |
| 3.90%, 05/17/2028 <sup>(A)</sup> <br>| 971000 | 966587 |
| **Financial Services - 1.6%**  | **Financial Services - 1.6%**  | **Financial Services - 1.6%**  |
| AerCap Ireland Capital DAC/AerCap <br> Global Aviation Trust |  |  |
| 4.45%, 04/03/2026 | 1592000 | 1591816 |
| 4.95%, 09/10/2034 | 750000 | 746556 |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 05/15/2028, <br>5.74% <sup>(B)</sup>, 05/15/2029<br>| 321000 | 328571 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 04/25/2029, <br>5.53% <sup>(B)</sup>, 04/25/2030<br>| 1063000 | 1110759 |
| Aviation Capital Group LLC |  |  |
| 1.95%, 01/30/2026 <sup>(A)</sup> <br>| 594000 | 588748 |
| Avolon Holdings Funding Ltd. |  |  |
| 5.75%, 11/15/2029 <sup>(A)</sup> <br>| 1650000 | 1714111 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 07/26/2034, <br>5.88% <sup>(B)</sup>, 07/26/2035<br>| 1680000 | 1761946 |
| &nbsp;&nbsp;&nbsp; Fixed until 01/30/2035, <br>6.18% <sup>(B)</sup>, 01/30/2036<br>| 329000 | 341290 |
| Citadel Finance LLC |  |  |
| 5.90%, 02/10/2030 <sup>(A)</sup> <br>| 1423000 | 1443762 |
| LPL Holdings, Inc. |  |  |
| 5.70%, 05/20/2027 | 558000 | 568520 |
| Rocket Cos., Inc. |  |  |
| 6.13%, 08/01/2030 <sup>(A)</sup> <br>| 1042000 | 1069426 |
| UWM Holdings LLC |  |  |
| 6.25%, 03/15/2031 <sup>(A)</sup> <br>| 979000 | 974337 |
|  |  | 12239842 |
| **Food Products - 1.6%**  | **Food Products - 1.6%**  | **Food Products - 1.6%**  |
| Albertsons Cos., Inc./Safeway, Inc./New <br> Albertsons LP |  |  |
| 6.25%, 03/15/2033 <sup>(A)</sup> <br>| 88000 | 89998 |
| BAT Capital Corp. |  |  |
| 4.63%, 03/22/2033 | 1020000 | 1009363 |
| 5.63%, 08/15/2035 | 1698000 | 1764228 |
| Bunge Ltd. Finance Corp. |  |  |
| 5.15%, 08/04/2035 | 1695000 | 1714980 |

---

**Transamerica Series Trust**

**Page 3**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Food Products (continued)** | **Food Products (continued)** | **Food Products (continued)** |
| Cargill, Inc. |  |  |
| 5.13%, 02/11/2035 <sup>(A)</sup> <br>| $1001000 | $1031172 |
| Imperial Brands Finance PLC |  |  |
| 5.63%, 07/01/2035 <sup>(A)</sup> <br>| 1410000 | 1438095 |
| J.M. Smucker Co. |  |  |
| 6.50%, 11/15/2043 | 444000 | 484191 |
| &nbsp;&nbsp; JBS USA Holding LUX SARL/JBS USA <br> Foods Group Holdings, Inc./JBS USA <br>Food Co. |  |  |
| 5.50%, 01/15/2036 <sup>(A)</sup> <br>| 1790000 | 1827966 |
| Kroger Co. |  |  |
| 5.00%, 09/15/2034 | 693000 | 698883 |
| Philip Morris International, Inc. |  |  |
| 4.90%, 11/01/2034 | 1384000 | 1394886 |
| Sysco Corp. |  |  |
| 5.40%, 03/23/2035 | 690000 | 713049 |
|  |  | 12166811 |
| **Health Care Equipment & Supplies - 0.3%**  | **Health Care Equipment & Supplies - 0.3%**  | **Health Care Equipment & Supplies - 0.3%**  |
| Alcon Finance Corp. |  |  |
| 5.75%, 12/06/2052 <sup>(A)</sup> <br>| 724000 | 744666 |
| GE HealthCare Technologies, Inc. |  |  |
| 4.80%, 08/14/2029 | 831000 | 847326 |
| 5.50%, 06/15/2035 | 664000 | 688293 |
|  |  | 2280285 |
| **Health Care Providers & Services - 1.1%**  | **Health Care Providers & Services - 1.1%**  | **Health Care Providers & Services - 1.1%**  |
| Centene Corp. |  |  |
| 3.38%, 02/15/2030 | 778000 | 715516 |
| Cigna Group |  |  |
| 2.40%, 03/15/2030 | 987000 | 911006 |
| 5.25%, 01/15/2036 | 1219000 | 1234535 |
| Elevance Health, Inc. |  |  |
| 5.70%, 09/15/2055 <sup>(C)</sup> <br>| 811000 | 803826 |
| HCA, Inc. |  |  |
| 5.60%, 04/01/2034 | 853000 | 885486 |
| 6.00%, 04/01/2054 | 848000 | 849661 |
| Health Care Service Corp. A Mutual Legal <br> Reserve Co. |  |  |
| 5.88%, 06/15/2054 <sup>(A)</sup> <br>| 418000 | 410709 |
| Laboratory Corp. of America Holdings |  |  |
| 4.80%, 10/01/2034 | 1240000 | 1230376 |
| UnitedHealth Group, Inc. |  |  |
| 5.15%, 07/15/2034 | 797000 | 818006 |
|  |  | 7859121 |
| **Health Care REITs - 0.2%**  | **Health Care REITs - 0.2%**  | **Health Care REITs - 0.2%**  |
| Healthpeak OP LLC |  |  |
| 4.75%, 01/15/2033 | 1672000 | 1661182 |
| **Hotels, Restaurants & Leisure - 0.6%**  | **Hotels, Restaurants & Leisure - 0.6%**  | **Hotels, Restaurants & Leisure - 0.6%**  |
| Carnival Corp. |  |  |
| 5.75%, 08/01/2032 <sup>(A)</sup> <br>| 320000 | 325657 |
| 6.13%, 02/15/2033 <sup>(A)</sup> <br>| 1130000 | 1158291 |
| Hyatt Hotels Corp. |  |  |
| 5.25%, 06/30/2029 | 863000 | 885106 |
| MGM Resorts International |  |  |
| 6.13%, 09/15/2029 | 1069000 | 1088025 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
| Royal Caribbean Cruises Ltd. |  |  |
| 5.38%, 01/15/2036 | $1137000 | $1143631 |
|  |  | 4600710 |
| **Household Durables - 0.1%**  | **Household Durables - 0.1%**  | **Household Durables - 0.1%**  |
| Whirlpool Corp. |  |  |
| 6.13%, 06/15/2030 | 497000 | 500893 |
| **Insurance - 1.8%**  | **Insurance - 1.8%**  | **Insurance - 1.8%**  |
| Allstate Corp. |  |  |
| 5.05%, 06/24/2029 | 1780000 | 1830279 |
| 5.25%, 03/30/2033 | 557000 | 577592 |
| American International Group, Inc. |  |  |
| 5.45%, 05/07/2035 | 520000 | 541688 |
| Aon North America, Inc. |  |  |
| 5.45%, 03/01/2034 | 787000 | 819821 |
| 5.75%, 03/01/2054 | 1034000 | 1041322 |
| Brown & Brown, Inc. |  |  |
| 5.25%, 06/23/2032 | 372000 | 381419 |
| 5.55%, 06/23/2035 | 1437000 | 1478172 |
| Constellation Insurance, Inc. |  |  |
| 6.80%, 01/24/2030 <sup>(A)</sup> <br>| 1614000 | 1626311 |
| Corebridge Financial, Inc. |  |  |
| 5.75%, 01/15/2034 | 635000 | 667939 |
| Fortitude Group Holdings LLC |  |  |
| 6.25%, 04/01/2030 <sup>(A)</sup> <br>| 502000 | 521226 |
| Muenchener Rueckversicherungs-<br> Gesellschaft AG |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 11/23/2031, <br>5.88% <sup>(B)</sup>, 05/23/2042 <sup>(A)</sup> <br>| 1000000 | 1043358 |
| Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Fixed until 07/01/2030, <br>3.70% <sup>(B)</sup>, 10/01/2050<br>| 1323000 | 1235799 |
| RenaissanceRe Holdings Ltd. |  |  |
| 5.80%, 04/01/2035 | 256000 | 268422 |
| RGA Global Funding |  |  |
| 5.05%, 12/06/2031 <sup>(A)</sup> <br>| 1669000 | 1701846 |
|  |  | 13735194 |
| **Internet & Catalog Retail - 0.5%**  | **Internet & Catalog Retail - 0.5%**  | **Internet & Catalog Retail - 0.5%**  |
| AppLovin Corp. |  |  |
| 5.50%, 12/01/2034 | 1046000 | 1079730 |
| Expedia Group, Inc. |  |  |
| 5.40%, 02/15/2035 | 1340000 | 1375126 |
| Meta Platforms, Inc. |  |  |
| 4.80%, 05/15/2030 | 1013000 | 1045724 |
| Uber Technologies, Inc. |  |  |
| 4.80%, 09/15/2034 | 520000 | 520976 |
|  |  | 4021556 |
| **IT Services - 0.4%**  | **IT Services - 0.4%**  | **IT Services - 0.4%**  |
| Dell International LLC/EMC Corp. |  |  |
| 4.85%, 02/01/2035 | 1308000 | 1287154 |
| Hewlett Packard Enterprise Co. |  |  |
| 5.00%, 10/15/2034 | 1378000 | 1367285 |
|  |  | 2654439 |

---

**Transamerica Series Trust**

**Page 4**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Machinery - 0.4%**  | **Machinery - 0.4%**  | **Machinery - 0.4%**  |
| Eaton Capital ULC |  |  |
| 4.45%, 05/09/2030 | $765000 | $772930 |
| Huntington Ingalls Industries, Inc. |  |  |
| 2.04%, 08/16/2028 | 1684000 | 1581620 |
| Ingersoll Rand, Inc. |  |  |
| 5.45%, 06/15/2034 | 842000 | 877899 |
|  |  | 3232449 |
| **Media - 0.2%**  | **Media - 0.2%**  | **Media - 0.2%**  |
| &nbsp;&nbsp; Charter Communications <br> Operating LLC/Charter Communications <br>Operating Capital |  |  |
| 4.80%, 03/01/2050 | 949000 | 751637 |
| Comcast Corp. |  |  |
| 2.94%, 11/01/2056 | 543000 | 322222 |
| NBCUniversal Media LLC |  |  |
| 4.45%, 01/15/2043 | 667000 | 581798 |
|  |  | 1655657 |
| **Metals & Mining - 0.5%**  | **Metals & Mining - 0.5%**  | **Metals & Mining - 0.5%**  |
| Anglo American Capital PLC |  |  |
| 4.50%, 03/15/2028 <sup>(A)</sup> <br>| 972000 | 977454 |
| ArcelorMittal SA |  |  |
| 6.55%, 11/29/2027 | 1373000 | 1432620 |
| Glencore Funding LLC |  |  |
| 2.63%, 09/23/2031 <sup>(A)</sup> <br>| 1138000 | 1022005 |
|  |  | 3432079 |
| **Mortgage Real Estate Investment Trusts - 0.0% \*** | **Mortgage Real Estate Investment Trusts - 0.0% \*** | **Mortgage Real Estate Investment Trusts - 0.0% \*** |
| Starwood Property Trust, Inc. |  |  |
| 6.00%, 04/15/2030 <sup>(A)</sup> <br>| 284000 | 288316 |
| **Office REITs - 0.1%**  | **Office REITs - 0.1%**  | **Office REITs - 0.1%**  |
| COPT Defense Properties LP |  |  |
| 2.90%, 12/01/2033 | 847000 | 716765 |
| **Oil, Gas & Consumable Fuels - 2.7%**  | **Oil, Gas & Consumable Fuels - 2.7%**  | **Oil, Gas & Consumable Fuels - 2.7%**  |
| Cheniere Energy Partners LP |  |  |
| 5.95%, 06/30/2033 | 1679000 | 1777385 |
| Chevron USA, Inc. |  |  |
| 3.25%, 10/15/2029 | 841000 | 819334 |
| Diamondback Energy, Inc. |  |  |
| 5.40%, 04/18/2034 | 1452000 | 1482321 |
| Ecopetrol SA |  |  |
| 7.75%, 02/01/2032 | 574000 | 593983 |
| Enbridge, Inc. |  |  |
| 4.90%, 06/20/2030 <sup>(C)</sup> <br>| 929000 | 950030 |
| 5.63%, 04/05/2034 | 1207000 | 1259873 |
| Energy Transfer LP |  |  |
| 5.15%, 02/01/2043 | 676000 | 613628 |
| 5.55%, 02/15/2028 | 586000 | 603196 |
| 5.95%, 10/01/2043 | 624000 | 616095 |
| EQT Corp. |  |  |
| 6.38%, 04/01/2029 | 431000 | 446941 |
| Greensaif Pipelines Bidco SARL |  |  |
| 5.85%, 02/23/2036 <sup>(A)</sup> <br>| 336000 | 352313 |
| Gulfstream Natural Gas System LLC |  |  |
| 5.60%, 07/23/2035 <sup>(A)</sup> <br>| 631000 | 646501 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| Hess Midstream Operations LP |  |  |
| 6.50%, 06/01/2029 <sup>(A)</sup> <br>| $828000 | $853945 |
| Occidental Petroleum Corp. |  |  |
| 5.20%, 08/01/2029 | 572000 | 580407 |
| ONEOK, Inc. |  |  |
| 6.10%, 11/15/2032 | 1359000 | 1456253 |
| Petroleos Mexicanos |  |  |
| 6.84%, 01/23/2030 | 585000 | 595037 |
| 7.69%, 01/23/2050 | 290000 | 263673 |
| Repsol E&P Capital Markets U.S. LLC |  |  |
| 5.98%, 09/16/2035 <sup>(A)</sup> <br>| 1373000 | 1397974 |
| Sabine Pass Liquefaction LLC |  |  |
| 4.20%, 03/15/2028 | 569000 | 568390 |
| Shell Finance U.S., Inc. |  |  |
| 3.75%, 09/12/2046 | 789000 | 626428 |
| Shell International Finance BV |  |  |
| 2.50%, 09/12/2026 | 595000 | 587845 |
| Sunoco LP |  |  |
| 5.63%, 03/15/2031 <sup>(A)</sup> <br>| 229000 | 227311 |
| Venture Global Plaquemines LNG LLC |  |  |
| 7.75%, 05/01/2035 <sup>(A)</sup> <br>| 1564000 | 1765300 |
| Western Midstream Operating LP |  |  |
| 6.15%, 04/01/2033 | 923000 | 975076 |
| Williams Cos., Inc. |  |  |
| 5.40%, 03/04/2044 | 108000 | 104823 |
|  |  | 20164062 |
| **Paper & Forest Products - 0.1%**  | **Paper & Forest Products - 0.1%**  | **Paper & Forest Products - 0.1%**  |
| Georgia-Pacific LLC |  |  |
| 4.95%, 06/30/2032 <sup>(A)</sup> <br>| 702000 | 720214 |
| **Passenger Airlines - 0.0% \*** | **Passenger Airlines - 0.0% \*** | **Passenger Airlines - 0.0% \*** |
| American Airlines Pass-Through Trust |  |  |
| 3.20%, 12/15/2029 | 252512 | 244482 |
| **Pharmaceuticals - 1.3%**  | **Pharmaceuticals - 1.3%**  | **Pharmaceuticals - 1.3%**  |
| Bayer U.S. Finance II LLC |  |  |
| 4.38%, 12/15/2028 <sup>(A)</sup> <br>| 1062000 | 1058214 |
| Bristol-Myers Squibb Co. |  |  |
| 5.65%, 02/22/2064 | 409000 | 405616 |
| Cardinal Health, Inc. |  |  |
| 5.45%, 02/15/2034 | 675000 | 700668 |
| CVS Health Corp. |  |  |
| 5.45%, 09/15/2035 | 1319000 | 1342218 |
| 6.00%, 06/01/2044 | 1001000 | 1015527 |
| &nbsp;&nbsp;&nbsp; Fixed until 12/10/2029, <br>7.00% <sup>(B)</sup>, 03/10/2055<br>| 1724000 | 1809757 |
| Merck & Co., Inc. |  |  |
| 5.00%, 05/17/2053 | 428000 | 402176 |
| Pfizer Investment Enterprises Pte. Ltd. |  |  |
| 5.11%, 05/19/2043 | 998000 | 967173 |
| Takeda U.S. Financing, Inc. |  |  |
| 5.20%, 07/07/2035 | 1275000 | 1295960 |
| Viatris, Inc. |  |  |
| 2.30%, 06/22/2027 | 572000 | 550610 |
|  |  | 9547919 |

---

**Transamerica Series Trust**

**Page 5**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Residential REITs - 0.2%**  | **Residential REITs - 0.2%**  | **Residential REITs - 0.2%**  |
| American Homes 4 Rent LP |  |  |
| 5.50%, 02/01/2034 | $1119000 | $1154716 |
| **Retail REITs - 0.2%**  | **Retail REITs - 0.2%**  | **Retail REITs - 0.2%**  |
| NNN REIT, Inc. |  |  |
| 4.60%, 02/15/2031 | 1694000 | 1700321 |
| **Semiconductors & Semiconductor Equipment - 1.5%**  | **Semiconductors & Semiconductor Equipment - 1.5%**  | **Semiconductors & Semiconductor Equipment - 1.5%**  |
| Broadcom, Inc. |  |  |
| 3.14%, 11/15/2035 <sup>(A)</sup> <br>| 1122000 | 970716 |
| Foundry JV Holdco LLC |  |  |
| 5.88%, 01/25/2034 <sup>(A)</sup> <br>| 1282000 | 1335545 |
| 5.90%, 01/25/2033 <sup>(A)</sup> <br>| 1230000 | 1297017 |
| Intel Corp. |  |  |
| 4.80%, 10/01/2041 | 1055000 | 951892 |
| Kioxia Holdings Corp. |  |  |
| 6.25%, 07/24/2030 <sup>(A)</sup> <br>| 2115000 | 2157309 |
| Microchip Technology, Inc. |  |  |
| 5.05%, 03/15/2029 | 1071000 | 1094331 |
| Micron Technology, Inc. |  |  |
| 5.30%, 01/15/2031 | 1135000 | 1174491 |
| NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| 3.25%, 11/30/2051 | 704000 | 472228 |
| 5.25%, 08/19/2035 | 1160000 | 1171843 |
| QUALCOMM, Inc. |  |  |
| 3.25%, 05/20/2050 | 752000 | 531615 |
|  |  | 11156987 |
| **Software - 1.0%**  | **Software - 1.0%**  | **Software - 1.0%**  |
| Cadence Design Systems, Inc. |  |  |
| 4.70%, 09/10/2034 | 671000 | 669916 |
| Fair Isaac Corp. |  |  |
| 6.00%, 05/15/2033 <sup>(A)</sup> <br>| 701000 | 709723 |
| Fiserv, Inc. |  |  |
| 5.45%, 03/02/2028 | 949000 | 975651 |
| Intuit, Inc. |  |  |
| 5.50%, 09/15/2053 | 418000 | 421047 |
| Oracle Corp. |  |  |
| 5.88%, 09/26/2045 | 905000 | 907457 |
| 5.95%, 09/26/2055 | 348000 | 346929 |
| 6.90%, 11/09/2052 | 976000 | 1085947 |
| Roper Technologies, Inc. |  |  |
| 4.90%, 10/15/2034 | 972000 | 973106 |
| Synopsys, Inc. |  |  |
| 5.15%, 04/01/2035 | 679000 | 690716 |
| 5.70%, 04/01/2055 | 488000 | 492505 |
|  |  | 7272997 |
| **Specialized REITs - 0.2%**  | **Specialized REITs - 0.2%**  | **Specialized REITs - 0.2%**  |
| Extra Space Storage LP |  |  |
| 5.40%, 06/15/2035 | 1450000 | 1481278 |
| **Transportation Infrastructure - 0.6%**  | **Transportation Infrastructure - 0.6%**  | **Transportation Infrastructure - 0.6%**  |
| Avolon Holdings Funding Ltd. |  |  |
| 4.90%, 10/10/2030 <sup>(A)</sup> <br>| 1480000 | 1488098 |
| Canadian Pacific Railway Co. |  |  |
| 2.45%, 12/02/2031 | 2112000 | 1880595 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** | **CORPORATE DEBT SECURITIES (continued)** |
| **Transportation Infrastructure (continued)** | **Transportation Infrastructure (continued)** | **Transportation Infrastructure (continued)** |
| United Parcel Service, Inc. |  |  |
| 5.25%, 05/14/2035 | $686000 | $709837 |
|  |  | 4078530 |
| &nbsp;&nbsp; **Total Corporate Debt Securities** <br>**(Cost $228,479,497)**<br>|  | 232321728 |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS - 23.9%**  | **U.S. GOVERNMENT AGENCY OBLIGATIONS - 23.9%**  | **U.S. GOVERNMENT AGENCY OBLIGATIONS - 23.9%**  |
| Federal Home Loan Mortgage Corp. |  |  |
| 3.00%, 02/01/2052 | 788484 | 692910 |
| 3.50%, 06/01/2042 - 06/01/2043 | 396144 | 374365 |
| 4.00%, 06/01/2042 - 01/01/2046 | 691916 | 664437 |
| 4.50%, 06/01/2048 | 315650 | 311732 |
| 5.50%, 04/01/2053 - 07/01/2053 | 2264047 | 2289344 |
| 6.00%, 12/01/2034 | 28822 | 29396 |
| 1-Month SOFR Average + 0.66%, |  |  |
| 5.04% <sup>(B)</sup>, 03/15/2044 | 2328 | 2321 |
| 1-Year RFUCC Treasury + 1.69%, |  |  |
| 6.32% <sup>(B)</sup>, 12/01/2036 | 1855 | 1888 |
| 6-Month RFUCC Treasury + 1.77%, |  |  |
| 6.41% <sup>(B)</sup>, 10/01/2036 | 9913 | 10094 |
| 6-Month RFUCC Treasury + 1.79%, |  |  |
| 6.42% <sup>(B)</sup>, 07/01/2036 | 10461 | 10672 |
| 1-Year CMT + 2.25%, |  |  |
| 6.50% <sup>(B)</sup>, 01/01/2035 - 05/01/2036 | 11817 | 12214 |
| 6.69% <sup>(B)</sup>, 02/01/2036 | 13806 | 14190 |
| 1-Year RFUCC Treasury + 1.67%, |  |  |
| 6.51% <sup>(B)</sup>, 11/01/2036 | 10139 | 10310 |
| 6-Month RFUCC Treasury + 1.84%, |  |  |
| 6.54% <sup>(B)</sup>, 03/01/2037 | 3613 | 3678 |
| 1-Year CMT + 2.37%, |  |  |
| 6.65% <sup>(B)</sup>, 09/01/2034 | 7030 | 7223 |
| 1-Year RFUCC Treasury + 1.94%, |  |  |
| 6.80% <sup>(B)</sup>, 06/01/2036 | 15739 | 16228 |
| 6-Month RFUCC Treasury + 2.11%, |  |  |
| 6.86% <sup>(B)</sup>, 02/01/2037 | 7568 | 7734 |
| 1-Year CMT + 2.36%, |  |  |
| 7.36% <sup>(B)</sup>, 10/01/2036 | 3834 | 3940 |
| Federal Home Loan Mortgage Corp. <br> REMICS |  |  |
| &nbsp;&nbsp;&nbsp; (3.33) \* 1-Month SOFR Average + <br> 17.12%,<br>|  |  |
| 2.54% <sup>(B)</sup>, 02/15/2040 | 18665 | 18548 |
| &nbsp;&nbsp;&nbsp; (2.00) \* 1-Month SOFR Average + <br> 13.06%,<br>|  |  |
| 4.31% <sup>(B)</sup>, 07/15/2033 | 11108 | 11800 |
| (1.25) \* 1-Month SOFR Average + 9.98%, |  |  |
| 4.52% <sup>(B)</sup>, 07/15/2032 | 9167 | 9378 |
| 1-Month SOFR Average + 0.46%, |  |  |
| 4.84% <sup>(B)</sup>, 06/15/2043 | 287798 | 281519 |
| 1-Month SOFR Average + 0.51%, |  |  |
| 4.86% <sup>(B)</sup>, 07/15/2037 | 35970 | 35541 |
| 4.89% <sup>(B)</sup>, 10/15/2041 | 51601 | 51374 |
| 1-Month SOFR Average + 0.55%, |  |  |
| 4.93% <sup>(B)</sup>, 02/15/2037 | 2118 | 2101 |
| 5.50%, 04/15/2033 - 05/15/2038 | 4494 | 4577 |
| 6.00%, 11/15/2032 | 8207 | 8561 |

---

**Transamerica Series Trust**

**Page 6**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** |
| &nbsp;&nbsp; Federal Home Loan Mortgage Corp. <br> REMICS (continued)<br>|  |  |
| 6.50%, 08/15/2031 - 07/15/2036 | $57489 | $60064 |
| 7.00%, 10/15/2030 - 05/15/2032 | 51100 | 53553 |
| 7.25%, 12/15/2030 | 6895 | 7188 |
| 7.50%, 08/15/2030 | 7291 | 7579 |
| 8.00%, 01/15/2030 | 25099 | 26188 |
| &nbsp;&nbsp;&nbsp; (3.62) \* 1-Month SOFR Average + <br> 26.80%,<br>|  |  |
| 5.50% <sup>(B)</sup>, 05/15/2041 | 16441 | 15815 |
| &nbsp;&nbsp;&nbsp; (1.83) \* 1-Month SOFR Average + <br> 14.55%,<br>|  |  |
| 6.53% <sup>(B)</sup>, 09/15/2033 | 1626 | 1787 |
| Federal Home Loan Mortgage Corp. <br> REMICS, Interest Only STRIPS |  |  |
| (1.00) \* 1-Month SOFR Average + 5.89%, |  |  |
| 1.51% <sup>(B)</sup>, 11/15/2037 - 02/15/2039 | 32242 | 2869 |
| (1.00) \* 1-Month SOFR Average + 6.09%, |  |  |
| 1.71% <sup>(B)</sup>, 06/15/2038 | 79718 | 8971 |
| 1.85% <sup>(B)</sup>, 01/15/2040 | 17362 | 1566 |
| (1.00) \* 1-Month SOFR Average + 6.26%, |  |  |
| 1.88% <sup>(B)</sup>, 10/15/2037 | 139617 | 12610 |
| (1.00) \* 1-Month SOFR Average + 6.31%, |  |  |
| 1.93% <sup>(B)</sup>, 11/15/2037 | 18326 | 1504 |
| (1.00) \* 1-Month SOFR Average + 6.69%, |  |  |
| 2.31% <sup>(B)</sup>, 04/15/2038 | 14858 | 1545 |
| (1.00) \* 1-Month SOFR Average + 6.99%, |  |  |
| 2.61% <sup>(B)</sup>, 07/15/2036 | 5681 | 605 |
| (1.00) \* 1-Month SOFR Average + 7.89%, |  |  |
| 3.51% <sup>(B)</sup>, 03/15/2032 | 6268 | 601 |
| Federal Home Loan Mortgage Corp. <br> REMICS, Principal Only STRIPS |  |  |
| 12/15/2032 - 01/15/2040 | 48597 | 42008 |
| Federal Home Loan Mortgage Corp. <br> Structured Pass-Through Certificates |  |  |
| 12-MTA + 1.20%, |  |  |
| 5.35% <sup>(B)</sup>, 10/25/2044 | 57231 | 52534 |
| 7.00%, 02/25/2043 | 25030 | 26095 |
| Federal Home Loan Mortgage Corp., <br> Interest Only STRIPS |  |  |
| 5.00%, 09/15/2035 | 11504 | 1669 |
| Federal National Mortgage Association |  |  |
| 2.50%, 12/01/2051 - 07/01/2061 | 2602933 | 2187479 |
| 3.00%, 01/01/2043 - 07/01/2060 | 1547288 | 1365392 |
| 3.50%, 08/01/2032 - 03/01/2060 | 1461317 | 1364683 |
| 4.00%, 07/01/2042 - 08/01/2048 | 1163457 | 1122913 |
| 4.50%, 08/01/2052 | 2218487 | 2162052 |
| 5.00%, 03/01/2053 - 02/01/2054 | 8680664 | 8659808 |
| 5.50%, 03/01/2053 - 01/01/2058 | 3211746 | 3284379 |
| 6.00%, 10/01/2033 - 06/01/2054 | 1576450 | 1616222 |
| 6.50%, 01/01/2036 | 6503 | 6493 |
| 8.00%, 11/01/2037 | 2989 | 3113 |
| 1-Year CMT + 2.23%, |  |  |
| 6.52% <sup>(B)</sup>, 01/01/2036 | 5388 | 5546 |
| Federal National Mortgage Association <br> REMICS |  |  |
| (1.33) \* 1-Month SOFR Average + 7.31%, |  |  |
| 1.51% <sup>(B)</sup>, 08/25/2033 | 17390 | 16404 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** |
| &nbsp;&nbsp; Federal National Mortgage Association <br> REMICS (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; (2.50) \* 1-Month SOFR Average + <br> 13.46%,<br>|  |  |
| 2.58% <sup>(B)</sup>, 07/25/2033 | $5140 | $5052 |
| &nbsp;&nbsp;&nbsp; (1.88) \* 1-Month SOFR Average + <br> 11.06%,<br>|  |  |
| 2.88% <sup>(B)</sup>, 07/25/2035 | 30010 | 28925 |
| &nbsp;&nbsp;&nbsp; (2.75) \* 1-Month SOFR Average + <br> 16.19%,<br>|  |  |
| 4.21% <sup>(B)</sup>, 05/25/2034 | 2525 | 2693 |
| 1-Month SOFR Average + 0.41%, |  |  |
| 4.77% <sup>(B)</sup>, 08/25/2041 | 5847 | 5837 |
| 1-Month SOFR Average + 0.46%, |  |  |
| 4.82% <sup>(B)</sup>, 04/25/2035 - 08/25/2036 | 19612 | 19455 |
| 1-Month SOFR Average + 0.36%, |  |  |
| 4.87% <sup>(B)</sup>, 06/27/2036 | 9157 | 9252 |
| &nbsp;&nbsp;&nbsp; (1.67) \* 1-Month SOFR Average + <br> 12.31%,<br>|  |  |
| 5.05% <sup>(B)</sup>, 09/25/2033 | 2187 | 2285 |
| &nbsp;&nbsp;&nbsp; (2.00) \* 1-Month SOFR Average + <br> 13.77%,<br>|  |  |
| 5.06% <sup>(B)</sup>, 03/25/2038 | 2434 | 2397 |
| 5.09% <sup>(B)</sup>, 10/25/2042 | 8125 | 8218 |
| 6.00%, 08/25/2037 | 7909 | 8328 |
| 6.50%, 05/25/2044 | 21157 | 21789 |
| 7.00%, 03/25/2031 - 11/25/2031 | 32543 | 33865 |
| &nbsp;&nbsp;&nbsp; (4.00) \* 1-Month SOFR Average + <br> 23.54%,<br>|  |  |
| 6.12% <sup>(B)</sup>, 05/25/2034 | 2237 | 2392 |
| &nbsp;&nbsp;&nbsp; (2.50) \* 1-Month SOFR Average + <br> 17.09%,<br>|  |  |
| 6.20% <sup>(B)</sup>, 07/25/2035 | 18775 | 20610 |
| &nbsp;&nbsp;&nbsp; (1.83) \* 1-Month SOFR Average + <br> 14.27%,<br>|  |  |
| 6.29% <sup>(B)</sup>, 12/25/2032 | 1368 | 1413 |
| &nbsp;&nbsp;&nbsp; (2.00) \* 1-Month SOFR Average + <br> 15.27%,<br>|  |  |
| 6.50% <sup>(B)</sup>, 11/25/2031 | 5262 | 5841 |
| &nbsp;&nbsp;&nbsp; (2.75) \* 1-Month SOFR Average + <br> 19.21%,<br>|  |  |
| 7.23% <sup>(B)</sup>, 04/25/2034 - 05/25/2034 | 21527 | 23709 |
| &nbsp;&nbsp;&nbsp; (3.67) \* 1-Month SOFR Average + <br> 24.15%,<br>|  |  |
| 8.17% <sup>(B)</sup>, 03/25/2036 | 6336 | 7524 |
| &nbsp;&nbsp;&nbsp; (4.00) \* 1-Month SOFR Average + <br> 25.74%,<br>|  |  |
| 8.32% <sup>(B)</sup>, 10/25/2036 | 1879 | 2338 |
| &nbsp;&nbsp;&nbsp; (4.00) \* 1-Month SOFR Average + <br> 26.10%,<br>|  |  |
| 8.68% <sup>(B)</sup>, 12/25/2036 | 1110 | 1243 |
| &nbsp;&nbsp;&nbsp; (6.67) \* 1-Month SOFR Average + <br> 53.24%,<br>|  |  |
| 10.00% <sup>(B)</sup>, 03/25/2032 | 541 | 568 |
| &nbsp;&nbsp;&nbsp; (3.25) \* 1-Month SOFR Average + <br> 24.82%,<br>|  |  |
| 10.66% <sup>(B)</sup>, 02/25/2032 | 835 | 987 |
| Federal National Mortgage Association <br> REMICS, Interest Only STRIPS |  |  |
| 0.90% <sup>(B)</sup>, 08/25/2042 | 108528 | 4287 |

---

**Transamerica Series Trust**

**Page 7**

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**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** |
| &nbsp;&nbsp; Federal National Mortgage Association <br> REMICS, Interest Only <br> STRIPS (continued)<br>|  |  |
| 1.22% <sup>(B)</sup>, 01/25/2038 | $8984 | $536 |
| 1.80% <sup>(B)</sup>, 04/25/2041 | 12011 | 859 |
| 6.50%, 05/25/2033 | 5947 | 786 |
| 7.00%, 06/25/2033 | 8070 | 948 |
| (1.00) \* 1-Month SOFR Average + 5.74%, |  |  |
| 1.38% <sup>(B)</sup>, 09/25/2038 | 44523 | 3420 |
| (1.00) \* 1-Month SOFR Average + 5.80%, |  |  |
| 1.44% <sup>(B)</sup>, 02/25/2038 | 21284 | 1741 |
| (1.00) \* 1-Month SOFR Average + 5.99%, |  |  |
| 1.63% <sup>(B)</sup>, 06/25/2037 | 12914 | 1067 |
| (1.00) \* 1-Month SOFR Average + 6.07%, |  |  |
| 1.71% <sup>(B)</sup>, 12/25/2039 | 3692 | 282 |
| (1.00) \* 1-Month SOFR Average + 6.09%, |  |  |
| 1.73% <sup>(B)</sup>, 03/25/2038 | 4720 | 369 |
| (1.00) \* 1-Month SOFR Average + 6.31%, |  |  |
| 1.95% <sup>(B)</sup>, 04/25/2040 | 5374 | 348 |
| (1.00) \* 1-Month SOFR Average + 6.42%, |  |  |
| 2.06% <sup>(B)</sup>, 01/25/2041 | 91310 | 10748 |
| (1.00) \* 1-Month SOFR Average + 6.43%, |  |  |
| 2.07% <sup>(B)</sup>, 09/25/2037 | 14306 | 1183 |
| (1.00) \* 1-Month SOFR Average + 6.44%, |  |  |
| 2.08% <sup>(B)</sup>, 02/25/2039 | 7818 | 638 |
| (1.00) \* 1-Month SOFR Average + 6.47%, |  |  |
| 2.11% <sup>(B)</sup>, 06/25/2036 | 8443 | 673 |
| (1.00) \* 1-Month SOFR Average + 6.59%, |  |  |
| 2.23% <sup>(B)</sup>, 03/25/2036 | 170341 | 16454 |
| (1.00) \* 1-Month SOFR Average + 7.04%, |  |  |
| 2.68% <sup>(B)</sup>, 07/25/2037 | 25207 | 3439 |
| Federal National Mortgage Association <br> REMICS, Principal Only STRIPS |  |  |
| 12/25/2032 - 10/25/2043 | 300323 | 240851 |
| Federal National Mortgage Association <br> Whole Loan |  |  |
| 1-Month SOFR Average + 0.37%, |  |  |
| 4.73% <sup>(B)</sup>, 11/25/2046 | 30019 | 29779 |
| Federal National Mortgage Association, <br> Principal Only STRIPS |  |  |
| 08/25/2032 - 01/25/2033 | 10299 | 9481 |
| Government National Mortgage <br> Association REMICS |  |  |
| 1.65%, 01/20/2063 | 13 | 11 |
| 1-Month Term SOFR + 0.41%, |  |  |
| 4.77% <sup>(B)</sup>, 08/20/2060 | 30 | 29 |
| (2.00) \* 1-Month Term SOFR + 13.17%, |  |  |
| 4.90% <sup>(B)</sup>, 10/20/2037 | 7342 | 7351 |
| 1-Month Term SOFR + 0.54%, |  |  |
| 4.90% <sup>(B)</sup>, 04/20/2060 | 457 | 454 |
| 1-Month Term SOFR + 0.56%, |  |  |
| 4.92% <sup>(B)</sup>, 03/20/2060 | 3638 | 3614 |
| 1-Month Term SOFR + 0.63%, |  |  |
| 4.98% <sup>(B)</sup>, 10/20/2062 | 13798 | 13803 |
| 1-Month Term SOFR + 0.66%, |  |  |
| 5.02% <sup>(B)</sup>, 07/20/2062 | 448 | 447 |
| 1-Month Term SOFR + 0.69%, |  |  |
| 5.05% <sup>(B)</sup>, 09/20/2062 | 818 | 819 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** |
| &nbsp;&nbsp; Government National Mortgage <br> Association REMICS (continued)<br>|  |  |
| 1-Month Term SOFR + 0.81%, |  |  |
| 5.17% <sup>(B)</sup>, 05/20/2061 | $54 | $54 |
| (2.41) \* 1-Month Term SOFR + 16.16%, |  |  |
| 6.17% <sup>(B)</sup>, 06/17/2035 | 2409 | 2638 |
| (2.20) \* 1-Month Term SOFR + 16.47%, |  |  |
| 7.35% <sup>(B)</sup>, 05/18/2034 | 32 | 34 |
| (3.00) \* 1-Month Term SOFR + 19.86%, |  |  |
| 7.46% <sup>(B)</sup>, 09/20/2037 | 3036 | 3317 |
| (2.75) \* 1-Month Term SOFR + 19.35%, |  |  |
| 7.94% <sup>(B)</sup>, 04/16/2034 | 9868 | 10896 |
| (3.50) \* 1-Month Term SOFR + 22.87%, |  |  |
| 8.40% <sup>(B)</sup>, 04/20/2037 | 9586 | 10525 |
| (4.91) \* 1-Month Term SOFR + 28.90%, |  |  |
| 8.59% <sup>(B)</sup>, 09/20/2034 | 5120 | 5670 |
| &nbsp;&nbsp; Government National Mortgage <br> Association REMICS, Interest Only <br>STRIPS |  |  |
| (1.00) \* 1-Month Term SOFR + 5.59%, |  |  |
| 1.45% <sup>(B)</sup>, 12/20/2038 | 13879 | 788 |
| (1.00) \* 1-Month Term SOFR + 5.72%, |  |  |
| 1.58% <sup>(B)</sup>, 02/20/2038 | 21487 | 240 |
| (1.00) \* 1-Month Term SOFR + 5.89%, |  |  |
| 1.75% <sup>(B)</sup>, 11/20/2037 | 20462 | 88 |
| (1.00) \* 1-Month Term SOFR + 5.97%, |  |  |
| 1.83% <sup>(B)</sup>, 06/20/2039 | 12503 | 1034 |
| (1.00) \* 1-Month Term SOFR + 5.99%, |  |  |
| 1.84% <sup>(B)</sup>, 02/16/2039 | 7142 | 29 |
| 1.85% <sup>(B)</sup>, 10/20/2034 | 23264 | 1211 |
| (1.00) \* 1-Month Term SOFR + 6.09%, |  |  |
| 1.95% <sup>(B)</sup>, 03/20/2037 - 06/20/2038 | 45263 | 1846 |
| (1.00) \* 1-Month Term SOFR + 6.16%, |  |  |
| 2.02% <sup>(B)</sup>, 04/20/2039 | 13023 | 991 |
| (1.00) \* 1-Month Term SOFR + 6.19%, |  |  |
| 2.05% <sup>(B)</sup>, 09/20/2035 - 03/20/2039 | 40587 | 3440 |
| (1.00) \* 1-Month Term SOFR + 6.29%, |  |  |
| 2.14% <sup>(B)</sup>, 05/16/2038 | 34314 | 1655 |
| (1.00) \* 1-Month Term SOFR + 6.36%, |  |  |
| 2.21% <sup>(B)</sup>, 06/16/2037 | 13720 | 166 |
| (1.00) \* 1-Month Term SOFR + 6.44%, |  |  |
| 2.30% <sup>(B)</sup>, 11/20/2037 - 12/20/2037 | 18692 | 67 |
| (1.00) \* 1-Month Term SOFR + 6.64%, |  |  |
| 2.50% <sup>(B)</sup>, 07/20/2037 | 34809 | 1379 |
| (1.00) \* 1-Month Term SOFR + 6.70%, |  |  |
| 2.55% <sup>(B)</sup>, 04/16/2037 | 11705 | 920 |
| 6.50%, 03/20/2039 | 9775 | 612 |
| &nbsp;&nbsp; Government National Mortgage <br> Association REMICS, Principal Only <br>STRIPS |  |  |
| 06/16/2033 - 01/20/2038 | 21246 | 18274 |
| KGS-Alpha SBA COOF Trust, Interest Only <br> STRIPS |  |  |
| 0.95% <sup>(B)</sup>, 08/25/2038 <sup>(A)</sup> <br>| 97750 | 1708 |
| 1.71% <sup>(B)</sup>, 03/25/2039 <sup>(A)</sup> <br>| 90310 | 2380 |
| 2.64% <sup>(B)</sup>, 04/25/2040 <sup>(A)</sup> <br>| 29014 | 1578 |
| Tennessee Valley Authority |  |  |
| 5.88%, 04/01/2036 | 1459000 | 1632491 |

---

**Transamerica Series Trust**

**Page 8**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)** |
| Uniform Mortgage-Backed Security, TBA |  |  |
| 2.00%, 10/01/2040 - 10/01/2055 <sup>(D)</sup> <br>| $14137000 | $11786996 |
| 2.50%, 10/01/2040 - 10/01/2055 <sup>(D)</sup> <br>| 34591000 | 29370697 |
| 3.00%, 10/01/2040 - 10/01/2055 <sup>(D)</sup> <br>| 24529000 | 21719693 |
| 3.50%, 10/01/2040 - 10/01/2055 <sup>(D)</sup> <br>| 13076000 | 12138305 |
| 4.00%, 10/01/2055 <sup>(D)</sup> <br>| 14323000 | 13497458 |
| 4.50%, 10/01/2055 <sup>(D)</sup> <br>| 13765000 | 13350093 |
| 5.00%, 10/01/2055 <sup>(D)</sup> <br>| 13149000 | 13039300 |
| 5.50%, 10/01/2054 <sup>(D)</sup> <br>| 21752000 | 21931192 |
| 6.00%, 10/01/2054 <sup>(D)</sup> <br>| 13156000 | 13440007 |
| Vendee Mortgage Trust |  |  |
| 7.50%, 02/15/2027 | 19030 | 19303 |
| &nbsp;&nbsp; **Total U.S. Government Agency Obligations** <br>**(Cost $181,074,274)** | &nbsp;&nbsp; **Total U.S. Government Agency Obligations** <br>**(Cost $181,074,274)** | 179571523 |
| **MORTGAGE-BACKED SECURITIES - 5.0%**  | **MORTGAGE-BACKED SECURITIES - 5.0%**  | **MORTGAGE-BACKED SECURITIES - 5.0%**  |
| Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004-2CB, Class 1A9, <br>5.75% , 03/25/2034<br>| 62765 | 64361 |
| &nbsp;&nbsp;&nbsp; Series 2005-28CB, Class 1A4, <br>5.50% , 08/25/2035<br>| 58034 | 49651 |
| &nbsp;&nbsp;&nbsp; Series 2005-54CB, Class 1A11, <br>5.50% , 11/25/2035<br>| 16454 | 12597 |
| Alternative Loan Trust, Interest Only <br> STRIPS |  |  |
| &nbsp;&nbsp;&nbsp; Series 2005-20CB, Class 3A8, <br>(1.00) \* 1-Month Term SOFR + 4.64%, <br>0.48% <sup>(B)</sup>, 07/25/2035<br>| 107261 | 5562 |
| &nbsp;&nbsp;&nbsp; Series 2005-22T1, Class A2, <br>(1.00) \* 1-Month Term SOFR + 4.96%, <br>0.80% <sup>(B)</sup>, 06/25/2035<br>| 303156 | 21661 |
| Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-1, Class A1, <br>5.69% <sup>(B)</sup>, 01/25/2070 <sup>(A)</sup> <br>| 1991358 | 2011469 |
| BAMLL Commercial Mortgage Securities <br> Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014-520M, Class C, <br>4.35% <sup>(B)</sup>, 08/15/2046 <sup>(A)</sup> <br>| 200000 | 139238 |
| Banc of America Funding Trust, Principal <br> Only STRIPS |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004-1, <br>03/25/2034<br>| 5168 | 3673 |
| &nbsp;&nbsp;&nbsp; Series 2005-7, Class 30, <br>11/25/2035<br>| 5290 | 5498 |
| &nbsp;&nbsp;&nbsp; Series 2005-8, Class 30, <br>01/25/2036<br>| 1671 | 1097 |
| Bear Stearns ARM Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2006-1, Class A1, <br>1-Year CMT + 2.25%, <br>6.53% <sup>(B)</sup>, 02/25/2036<br>| 10037 | 9673 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-NQM2, Class A1, <br>6.29% <sup>(B)</sup>, 02/25/2064 <sup>(A)</sup> <br>| 385291 | 390024 |
| &nbsp;&nbsp;&nbsp; Series 2024-NQM3, Class A1, <br>6.19% <sup>(B)</sup>, 03/25/2064 <sup>(A)</sup> <br>| 672686 | 680742 |
| &nbsp;&nbsp;&nbsp; Series 2024-NQM7, Class A1, <br>5.55% <sup>(B)</sup>, 10/27/2064 <sup>(A)</sup> <br>| 1461393 | 1472063 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; BRAVO Residential Funding <br> Trust (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-NQM1, Class A1, <br>5.60% <sup>(B)</sup>, 12/25/2064 <sup>(A)</sup> <br>| $510816 | $515232 |
| &nbsp;&nbsp;&nbsp; Series 2025-NQM6, Class A1, <br>5.33% <sup>(B)</sup>, 06/25/2065 <sup>(A)</sup> <br>| 4795775 | 4822340 |
| Chase Mortgage Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2007-A1, Class 1A3, <br>6.52% <sup>(B)</sup>, 02/25/2037<br>| 7099 | 7090 |
| &nbsp;&nbsp;&nbsp; Series 2007-A2, Class 2A1, <br>6.15% <sup>(B)</sup>, 06/25/2035<br>| 6264 | 6235 |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004-3, Class A26, <br>5.50% , 04/25/2034<br>| 18195 | 18222 |
| &nbsp;&nbsp;&nbsp; Series 2004-3, Class A4, <br>5.75% , 04/25/2034<br>| 10917 | 10889 |
| &nbsp;&nbsp;&nbsp; Series 2004-7, Class 2A1, <br>5.40% <sup>(B)</sup>, 06/25/2034<br>| 6163 | 5697 |
| &nbsp;&nbsp;&nbsp; Series 2004-HYB1, Class 2A, <br>5.19% <sup>(B)</sup>, 05/20/2034<br>| 4751 | 4564 |
| &nbsp;&nbsp;&nbsp; Series 2005-22, Class 2A1, <br>5.15% <sup>(B)</sup>, 11/25/2035<br>| 40779 | 33683 |
| Citigroup Mortgage Loan Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series 2003-1, Class 2A5, <br>5.25% , 10/25/2033<br>| 1820 | 1748 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-2, Class A1, <br>6.13% <sup>(B)</sup>, 04/25/2069 <sup>(A)</sup> <br>| 865688 | 875126 |
| Credit Suisse First Boston Mortgage <br> Securities Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series 2003-21, Class 1A4, <br>5.25% , 09/25/2033<br>| 4812 | 4814 |
| Cross Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-H7, Class A1, <br>4.93% <sup>(B)</sup>, 09/25/2070 <sup>(A)</sup> <br>| 3837294 | 3831117 |
| FREMF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2018-W5FX, Class BFX, <br>3.79% <sup>(B)</sup>, 04/25/2028 <sup>(A)</sup> <br>| 900000 | 857310 |
| GSMPS Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2005-RP2, Class 1AF, <br>1-Month Term SOFR + 0.46%, <br>4.62% <sup>(B)</sup>, 03/25/2035 <sup>(A)</sup> <br>| 65411 | 61518 |
| &nbsp;&nbsp;&nbsp; Series 2005-RP3, Class 1AF, <br>1-Month Term SOFR + 0.46%, <br>4.62% <sup>(B)</sup>, 09/25/2035 <sup>(A)</sup> <br>| 46109 | 39593 |
| GSR Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004-6F, Class 2A4, <br>5.50% , 05/25/2034<br>| 9393 | 9536 |
| &nbsp;&nbsp;&nbsp; Series 2004-8F, Class 2A3, <br>6.00% , 09/25/2034<br>| 4602 | 4729 |
| &nbsp;&nbsp;&nbsp; Series 2005-7F, Class 3A9, <br>6.00% , 09/25/2035<br>| 14025 | 14032 |
| &nbsp;&nbsp;&nbsp; Series 2006-1F, Class 2A4, <br>6.00% , 02/25/2036<br>| 31117 | 12777 |
| Hudson Yards Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-SPRL, Class A, <br>5.65% <sup>(B)</sup>, 01/13/2040 <sup>(A)</sup> <br>| 820000 | 847386 |
| Impac Secured Assets Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2006-1, Class 2A1, <br>1-Month Term SOFR + 0.81%, <br>4.97% <sup>(B)</sup>, 05/25/2036<br>| 9582 | 8955 |

---

**Transamerica Series Trust**

**Page 9**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** |
| JPMorgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2006-A2, Class 5A3, <br>6.71% <sup>(B)</sup>, 11/25/2033<br>| $2554 | $2527 |
| Ladder Capital Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2013-GCP, Class A2, <br>3.99% , 02/15/2036 <sup>(A)</sup> <br>| 154000 | 146281 |
| Manhattan West Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020-1MW, Class A, <br>2.13% , 09/10/2039 <sup>(A)</sup> <br>| 600000 | 571856 |
| &nbsp;&nbsp;&nbsp; Series 2020-1MW, Class B, <br>2.41% <sup>(B)</sup>, 09/10/2039 <sup>(A)</sup> <br>| 826000 | 788077 |
| MASTR Adjustable Rate Mortgages Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004-13, Class 2A1, <br>6.59% <sup>(B)</sup>, 04/21/2034<br>| 7144 | 7033 |
| &nbsp;&nbsp;&nbsp; Series 2004-13, Class 3A7, <br>5.58% <sup>(B)</sup>, 11/21/2034<br>| 3927 | 3769 |
| &nbsp;&nbsp;&nbsp; Series 2004-3, Class 4A2, <br>4.25% <sup>(B)</sup>, 04/25/2034<br>| 4381 | 3953 |
| MASTR Resecuritization Trust, Principal <br> Only STRIPS |  |  |
| &nbsp;&nbsp;&nbsp; Series 2005, Class 3, <br>05/28/2035 <sup>(A)</sup> <br>| 3251 | 2544 |
| Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2003-E, Class A1, <br>1-Month Term SOFR + 0.73%, <br>4.89% <sup>(B)</sup>, 10/25/2028<br>| 37023 | 35225 |
| &nbsp;&nbsp;&nbsp; Series 2004-1, Class 2A1, <br>5.34% <sup>(B)</sup>, 12/25/2034<br>| 11723 | 11030 |
| &nbsp;&nbsp;&nbsp; Series 2004-A, Class A1, <br>1-Month Term SOFR + 0.57%, <br>4.73% <sup>(B)</sup>, 04/25/2029<br>| 28706 | 26541 |
| MetLife Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2019-1A, Class A1A, <br>3.75% <sup>(B)</sup>, 04/25/2058 <sup>(A)</sup> <br>| 483889 | 478173 |
| MFA Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-RPL1, Class A1, <br>1.13% <sup>(B)</sup>, 07/25/2060 <sup>(A)</sup> <br>| 552111 | 505859 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017-1A, Class A1, <br>4.00% <sup>(B)</sup>, 02/25/2057 <sup>(A)</sup> <br>| 70540 | 68761 |
| &nbsp;&nbsp;&nbsp; Series 2017-3A, Class A1, <br>4.00% <sup>(B)</sup>, 04/25/2057 <sup>(A)</sup> <br>| 264753 | 256438 |
| &nbsp;&nbsp;&nbsp; Series 2019-5A, Class A1B, <br>3.50% <sup>(B)</sup>, 08/25/2059 <sup>(A)</sup> <br>| 216856 | 206544 |
| Nomura Asset Acceptance Corp. <br> Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2003-A1, Class A2, <br>6.00% , 05/25/2033<br>| 1858 | 1889 |
| &nbsp;&nbsp;&nbsp; Series 2003-A1, Class A5, <br>7.00% , 04/25/2033<br>| 9629 | 9701 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-NQM4, Class A1, <br>6.11% <sup>(B)</sup>, 03/25/2063 <sup>(A)</sup> <br>| 576777 | 578936 |
| &nbsp;&nbsp;&nbsp; Series 2024-NQM4, Class A1, <br>6.07% <sup>(B)</sup>, 01/25/2064 <sup>(A)</sup> <br>| 265534 | 268303 |
| &nbsp;&nbsp;&nbsp; Series 2024-NQM6, Class A1, <br>6.45% <sup>(B)</sup>, 02/25/2064 <sup>(A)</sup> <br>| 217888 | 221278 |
| &nbsp;&nbsp;&nbsp; Series 2025-NQM13, Class A1, <br>5.44% <sup>(B)</sup>, 05/25/2065 <sup>(A)</sup> <br>| 2979407 | 3004701 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** |
| OBX Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-NQM18, Class A1, <br>5.06% <sup>(B)</sup>, 09/25/2065 <sup>(A)</sup> <br>| $2500000 | $2500099 |
| &nbsp;&nbsp;&nbsp; Series 2025-NQM2, Class A1, <br>5.60% <sup>(B)</sup>, 11/25/2064 <sup>(A)</sup> <br>| 574047 | 579213 |
| PHH Alternative Mortgage Trust, Interest <br> Only STRIPS |  |  |
| &nbsp;&nbsp;&nbsp; Series 2007-2, Class 2X, <br>6.00% , 05/25/2037<br>| 42803 | 7751 |
| Sequoia Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2003-1, Class 1A, <br>1-Month Term SOFR + 0.87%, <br>5.01% <sup>(B)</sup>, 04/20/2033<br>| 20591 | 19381 |
| &nbsp;&nbsp;&nbsp; Series 2004-11, Class A1, <br>1-Month Term SOFR + 0.71%, <br>4.85% <sup>(B)</sup>, 12/20/2034<br>| 9420 | 8636 |
| &nbsp;&nbsp;&nbsp; Series 2004-8, Class A1, <br>1-Month Term SOFR + 0.81%, <br>4.95% <sup>(B)</sup>, 09/20/2034<br>| 61537 | 53993 |
| &nbsp;&nbsp;&nbsp; Series 2004-9, Class A1, <br>1-Month Term SOFR + 0.79%, <br>4.93% <sup>(B)</sup>, 10/20/2034<br>| 33963 | 31247 |
| Structured Adjustable Rate Mortgage Loan <br> Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004-1, Class 4A4, <br>6.34% <sup>(B)</sup>, 02/25/2034<br>| 37686 | 36456 |
| Structured Asset Mortgage Investments II <br> Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2003-AR4, Class A1, <br>1-Month Term SOFR + 0.81%, <br>4.95% <sup>(B)</sup>, 01/19/2034<br>| 77713 | 74431 |
| &nbsp;&nbsp;&nbsp; Series 2004-AR1, Class 1A1, <br>1-Month Term SOFR + 0.81%, <br>4.95% <sup>(B)</sup>, 03/19/2034<br>| 51649 | 48648 |
| &nbsp;&nbsp;&nbsp; Series 2004-AR5, Class 1A1, <br>1-Month Term SOFR + 0.77%, <br>4.91% <sup>(B)</sup>, 10/19/2034<br>| 7500 | 7221 |
| &nbsp;&nbsp;&nbsp; Series 2005-AR5, Class A3, <br>1-Month Term SOFR + 0.61%, <br>4.75% <sup>(B)</sup>, 07/19/2035<br>| 24784 | 24386 |
| Thornburg Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004-4, Class 3A, <br>5.51% <sup>(B)</sup>, 12/25/2044<br>| 15325 | 14954 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017-4, Class A1, <br>2.75% <sup>(B)</sup>, 06/25/2057 <sup>(A)</sup> <br>| 749797 | 734490 |
| &nbsp;&nbsp;&nbsp; Series 2017-6, Class A1, <br>2.75% <sup>(B)</sup>, 10/25/2057 <sup>(A)</sup> <br>| 371109 | 365321 |
| &nbsp;&nbsp;&nbsp; Series 2018-1, Class A1, <br>3.00% <sup>(B)</sup>, 01/25/2058 <sup>(A)</sup> <br>| 412146 | 408404 |
| &nbsp;&nbsp;&nbsp; Series 2018-4, Class A1, <br>3.00% <sup>(B)</sup>, 06/25/2058 <sup>(A)</sup> <br>| 1372954 | 1304674 |
| &nbsp;&nbsp;&nbsp; Series 2019-4, Class A1, <br>2.90% <sup>(B)</sup>, 10/25/2059 <sup>(A)</sup> <br>| 1200482 | 1153644 |
| &nbsp;&nbsp;&nbsp; Series 2020-4, Class A1, <br>1.75% , 10/25/2060 <sup>(A)</sup> <br>| 2768006 | 2521653 |
| &nbsp;&nbsp;&nbsp; Series 2021-R1, Class A1, <br>2.92% <sup>(B)</sup>, 11/30/2060 <sup>(A)</sup> <br>| 1244127 | 1117169 |
| &nbsp;&nbsp;&nbsp; Series 2022-1, Class A1, <br>3.75% <sup>(B)</sup>, 07/25/2062 <sup>(A)</sup> <br>| 545554 | 523569 |
| &nbsp;&nbsp;&nbsp; Series 2023-1, Class A1, <br>3.75% , 01/25/2063 <sup>(A)</sup> <br>| 1029010 | 998209 |

---

**Transamerica Series Trust**

**Page 10**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** | **MORTGAGE-BACKED SECURITIES (continued)** |
| Wachovia Bank Commercial Mortgage <br> Trust, Interest Only STRIPS |  |  |
| &nbsp;&nbsp;&nbsp; Series 2006-C24, Class XC, <br>0.00% , 03/15/2045 <sup>(A)</sup><sup>(E)</sup> <br>| $2254 | $0 |
| WaMu Mortgage Pass-Through Certificates <br> Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2003-AR11, Class A6, <br>5.89% <sup>(B)</sup>, 10/25/2033<br>| 20226 | 19144 |
| &nbsp;&nbsp;&nbsp; Series 2003-AR6, Class A1, <br>6.38% <sup>(B)</sup>, 06/25/2033<br>| 3713 | 3664 |
| &nbsp;&nbsp;&nbsp; Series 2003-S3, Class 1A4, <br>5.50% , 06/25/2033<br>| 15015 | 14850 |
| &nbsp;&nbsp;&nbsp; Series 2003-S9, Class A8, <br>5.25% , 10/25/2033<br>| 12547 | 12457 |
| &nbsp;&nbsp;&nbsp; Series 2004-AR3, Class A2, <br>5.37% <sup>(B)</sup>, 06/25/2034<br>| 3192 | 3026 |
| Washington Mutual Mortgage Pass-<br> Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2005-4, Class CB7, <br>5.50% , 06/25/2035<br>| 43029 | 39647 |
| &nbsp;&nbsp; Washington Mutual Mortgage Pass-<br> Through Certificates Trust, Interest Only <br>STRIPS |  |  |
| &nbsp;&nbsp;&nbsp; Series 2005-2, Class 1A4, <br>(1.00) \* 1-Month Term SOFR + 4.94%, <br>0.78% <sup>(B)</sup>, 04/25/2035<br>| 154409 | 7938 |
| &nbsp;&nbsp;&nbsp; Series 2005-3, Class CX, <br>5.50% , 05/25/2035<br>| 57922 | 8954 |
| &nbsp;&nbsp; Washington Mutual MSC Mortgage Pass-<br> Through Certificates Trust, Principal Only <br>STRIPS |  |  |
| &nbsp;&nbsp;&nbsp; Series 2003-MS7, Class P, <br>03/25/2033<br>| 97 | 78 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016-C35, Class A4, <br>2.93% , 07/15/2048<br>| 1103000 | 1088766 |
| &nbsp;&nbsp; **Total Mortgage-Backed Securities** <br>**(Cost $37,744,183)**<br>|  | 37791394 |
| **ASSET-BACKED SECURITIES - 4.2%**  | **ASSET-BACKED SECURITIES - 4.2%**  | **ASSET-BACKED SECURITIES - 4.2%**  |
| 321 Henderson Receivables VI LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2010-1A, Class A, <br>5.56%, 07/15/2059 <sup>(A)</sup> <br>| 351388 | 353717 |
| Accelerated LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-1H, Class A, <br>1.35%, 10/20/2040 <sup>(A)</sup> <br>| 59004 | 55085 |
| &nbsp;&nbsp;&nbsp; Series 2021-1H, Class B, <br>1.90%, 10/20/2040 <sup>(A)</sup> <br>| 450210 | 421423 |
| Avis Budget Rental Car Funding <br> AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-7A, Class A, <br>5.90%, 08/21/2028 <sup>(A)</sup> <br>| 1080000 | 1109576 |
| &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, <br>5.36%, 06/20/2030 <sup>(A)</sup> <br>| 3500000 | 3619835 |
| BXG Receivables Note Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-A, Class A, <br>5.77%, 11/15/2038 <sup>(A)</sup> <br>| 541533 | 551827 |
| Chase Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2003-6, Class 1A7, <br>4.84% <sup>(B)</sup>, 11/25/2034<br>| 11286 | 11190 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |
| CIFC Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; Series 2013-2A, Class A1L2, <br>3-Month Term SOFR + 1.26%, <br>5.59% <sup>(B)</sup>, 10/18/2030 <sup>(A)</sup> <br>| $945412 | $946490 |
| Diameter Capital CLO 1 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-1A, Class A1R, <br>3-Month Term SOFR + 1.39%, <br>5.71% <sup>(B)</sup>, 10/15/2037 <sup>(A)</sup> <br>| 1900000 | 1905090 |
| First National Master Note Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-1, Class A, <br>5.13%, 04/15/2029<br>| 1370000 | 1377243 |
| GM Financial Revolving Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-1, Class A, <br>1.17%, 06/12/2034 <sup>(A)</sup> <br>| 2239000 | 2180360 |
| Goodgreen Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017-1A, Class A, <br>3.74%, 10/15/2052 <sup>(A)</sup> <br>| 60415 | 55725 |
| Hero Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017-1A, Class A2, <br>4.46%, 09/20/2047 <sup>(A)</sup> <br>| 148898 | 143097 |
| &nbsp;&nbsp;&nbsp; Series 2017-3A, Class A2, <br>3.95%, 09/20/2048 <sup>(A)</sup> <br>| 164758 | 154830 |
| Hertz Vehicle Financing III LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-3A, Class A, <br>5.94%, 02/25/2028 <sup>(A)</sup> <br>| 955000 | 972842 |
| Hilton Grand Vacations Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-1B, Class A, <br>5.75%, 09/15/2039 <sup>(A)</sup> <br>| 202113 | 205391 |
| &nbsp;&nbsp;&nbsp; Series 2024-2A, Class A, <br>5.50%, 03/25/2038 <sup>(A)</sup> <br>| 204997 | 209062 |
| &nbsp;&nbsp;&nbsp; Series 2024-3A, Class A, <br>4.98%, 08/27/2040 <sup>(A)</sup> <br>| 2404989 | 2428575 |
| &nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, <br>4.54%, 05/25/2044 <sup>(A)</sup> <br>| 869298 | 871163 |
| HINNT LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-A, Class A, <br>5.49%, 03/15/2043 <sup>(A)</sup> <br>| 229166 | 233232 |
| ICG U.S. CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; Series 2014-1A, Class A1A2, <br>3-Month Term SOFR + 1.46%, <br>5.79% <sup>(B)</sup>, 10/20/2034 <sup>(A)</sup> <br>| 1500000 | 1501692 |
| MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-1A, Class A, <br>4.93%, 10/20/2040 <sup>(A)</sup> <br>| 475307 | 479814 |
| &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, <br>5.32%, 02/20/2043 <sup>(A)</sup> <br>| 2601558 | 2655148 |
| QTS Issuer ABS I LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2, <br>5.44%, 05/25/2055 <sup>(A)</sup> <br>| 1572000 | 1605558 |
| Renew Financial |  |  |
| &nbsp;&nbsp;&nbsp; Series 2017-1A, Class A, <br>3.67%, 09/20/2052 <sup>(A)</sup> <br>| 79024 | 73815 |
| SCF Equipment Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A3, <br>5.11%, 11/21/2033 <sup>(A)</sup> <br>| 820000 | 839243 |
| Securitized Asset-Backed Receivables LLC <br> Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series 2006-CB1, Class AF2, <br>2.82% <sup>(B)</sup>, 01/25/2036<br>| 12201 | 10484 |

---

**Transamerica Series Trust**

**Page 11**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** | **ASSET-BACKED SECURITIES (continued)** |
| Sierra Timeshare Receivables <br> Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-1A, Class A, <br>5.20%, 01/20/2040 <sup>(A)</sup> <br>| $553042 | $558320 |
| &nbsp;&nbsp;&nbsp; Series 2023-2A, Class A, <br>5.80%, 04/20/2040 <sup>(A)</sup> <br>| 198877 | 203377 |
| &nbsp;&nbsp;&nbsp; Series 2023-3A, Class A, <br>6.10%, 09/20/2040 <sup>(A)</sup> <br>| 218373 | 225134 |
| &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, <br>5.15%, 01/20/2043 <sup>(A)</sup> <br>| 438156 | 442553 |
| &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, <br>4.81%, 01/21/2042 <sup>(A)</sup> <br>| 697244 | 704587 |
| &nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, <br>4.72%, 04/20/2044 <sup>(A)</sup> <br>| 621617 | 627085 |
| Vantage Data Centers LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2, <br>5.13%, 08/15/2055 <sup>(A)</sup> <br>| 3570000 | 3588081 |
| &nbsp;&nbsp; **Total Asset-Backed Securities** <br>**(Cost $31,078,452)** | &nbsp;&nbsp; **Total Asset-Backed Securities** <br>**(Cost $31,078,452)** | 31320644 |
| **FOREIGN GOVERNMENT OBLIGATIONS - 0.4%**  | **FOREIGN GOVERNMENT OBLIGATIONS - 0.4%**  | **FOREIGN GOVERNMENT OBLIGATIONS - 0.4%**  |
| **Colombia - 0.1%**  | **Colombia - 0.1%**  | **Colombia - 0.1%**  |
| Colombia Government International Bonds |  |  |
| 7.75%, 11/07/2036 | 535000 | 560413 |
| **Dominican Republic - 0.1%**  | **Dominican Republic - 0.1%**  | **Dominican Republic - 0.1%**  |
| Dominican Republic International Bonds |  |  |
| 6.60%, 06/01/2036 <sup>(A)</sup> <br>| 857000 | 896850 |
| **Mexico - 0.1%**  | **Mexico - 0.1%**  | **Mexico - 0.1%**  |
| Mexico Government International Bonds |  |  |
| 3.75%, 01/11/2028 | 1053000 | 1041154 |
| **Peru - 0.1%**  | **Peru - 0.1%**  | **Peru - 0.1%**  |
| Corporacion Financiera de Desarrollo SA |  |  |
| 5.50%, 05/06/2030 <sup>(A)</sup> <br>| 392000 | 402956 |
| &nbsp;&nbsp; **Total Foreign Government Obligations** <br>**(Cost $2,809,307)**<br>|  | 2901373 |
| **COMMERCIAL PAPER - 17.4%**  | **COMMERCIAL PAPER - 17.4%**  | **COMMERCIAL PAPER - 17.4%**  |
| **Banks - 2.0%**  | **Banks - 2.0%**  | **Banks - 2.0%**  |
| Lloyds Bank PLC |  |  |
| 4.32% <sup>(F)</sup>, 12/12/2025 | 5700000 | 5653142 |
| Sheffield Receivables Co. LLC |  |  |
| 4.42% <sup>(F)</sup>, 11/19/2025 <sup>(A)</sup> <br>| 1500000 | 1491382 |
| 4.42% <sup>(F)</sup>, 11/21/2025 <sup>(A)</sup> <br>| 2700000 | 2683896 |
| Toronto-Dominion Bank |  |  |
| 4.21% <sup>(F)</sup>, 12/19/2025 <sup>(A)</sup> <br>| 5000000 | 4954601 |
|  |  | 14783021 |
| **Capital Markets - 1.5%**  | **Capital Markets - 1.5%**  | **Capital Markets - 1.5%**  |
| Lexington Parker Capital Co. LLC |  |  |
| 4.41% <sup>(F)</sup>, 11/21/2025 <sup>(A)</sup> <br>| 5700000 | 5666046 |
| Verto Capital I Compartment A |  |  |
| 4.43% <sup>(F)</sup>, 11/18/2025 <sup>(A)</sup> <br>| 5700000 | 5667391 |
|  |  | 11333437 |
| **Financial Services - 13.9%**  | **Financial Services - 13.9%**  | **Financial Services - 13.9%**  |
| Anglesea Funding LLC |  |  |
| 4.39% <sup>(F)</sup>, 10/10/2025 <sup>(A)</sup> <br>| 5700000 | 5693455 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **COMMERCIAL PAPER (continued)** | **COMMERCIAL PAPER (continued)** | **COMMERCIAL PAPER (continued)** |
| **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** |
| Barton Capital SA |  |  |
| 4.39% <sup>(F)</sup>, 11/12/2025 <sup>(A)</sup> <br>| $2700000 | $2686570 |
| 4.41% <sup>(F)</sup>, 11/19/2025 <sup>(A)</sup> <br>| 3000000 | 2982764 |
| Bedford Row Funding Corp. |  |  |
| 4.34% <sup>(F)</sup>, 11/07/2025 <sup>(A)</sup> <br>| 3000000 | 2986850 |
| 4.46% <sup>(F)</sup>, 10/28/2025 <sup>(A)</sup> <br>| 4000000 | 3987097 |
| Britannia Funding Co. LLC |  |  |
| 4.43% <sup>(F)</sup>, 11/07/2025 <sup>(A)</sup> <br>| 1500000 | 1493394 |
| 4.51% <sup>(F)</sup>, 10/15/2025 <sup>(A)</sup> <br>| 4250000 | 4242650 |
| Cancara Asset Securitisation LLC |  |  |
| 4.41%, 11/07/2025 | 3600000 | 3584222 |
| Columbia Funding Co. LLC |  |  |
| 4.39% <sup>(F)</sup>, 11/17/2025 <sup>(A)</sup> <br>| 5700000 | 5668566 |
| 4.40% <sup>(F)</sup>, 11/17/2025 <sup>(A)</sup> <br>| 1300000 | 1292831 |
| Concord Minutemen Capital Co. LLC |  |  |
| 4.36% <sup>(F)</sup>, 12/03/2025 <sup>(A)</sup> <br>| 7000000 | 6948439 |
| 4.46% <sup>(F)</sup>, 11/19/2025 <sup>(A)</sup> <br>| 7000000 | 6959361 |
| Glencove Funding LLC |  |  |
| 4.32% <sup>(F)</sup>, 12/01/2025 <sup>(A)</sup> <br>| 4000000 | 3971778 |
| GTA Funding LLC |  |  |
| 4.38% <sup>(F)</sup>, 11/20/2025 <sup>(A)</sup> <br>| 3750000 | 3728075 |
| 4.40% <sup>(F)</sup>, 11/13/2025 <sup>(A)</sup> <br>| 2000000 | 1989865 |
| 4.40% <sup>(F)</sup>, 11/19/2025 <sup>(A)</sup> <br>| 1500000 | 1491396 |
| Liberty Street Funding LLC |  |  |
| 4.32% <sup>(F)</sup>, 12/02/2025 <sup>(A)</sup> <br>| 3000000 | 2978549 |
| 4.39% <sup>(F)</sup>, 11/18/2025 <sup>(A)</sup> <br>| 2000000 | 1988756 |
| LMA-Americas LLC |  |  |
| 4.38% <sup>(F)</sup>, 11/12/2025 <sup>(A)</sup> <br>| 5700000 | 5671630 |
| Mackinac Funding Co. LLC |  |  |
| 4.40% <sup>(F)</sup>, 11/18/2025 <sup>(A)</sup> <br>| 7000000 | 6960456 |
| Mainbeach Funding LLC |  |  |
| 4.38% <sup>(F)</sup>, 12/02/2025 <sup>(A)</sup> <br>| 410000 | 407040 |
| Manhattan Asset Funding Co. LLC |  |  |
| 4.39% <sup>(F)</sup>, 10/16/2025 <sup>(A)</sup> <br>| 4300000 | 4292085 |
| 4.51% <sup>(F)</sup>, 12/11/2025 <sup>(A)</sup> <br>| 2700000 | 2677936 |
| Mont Blanc Capital Corp. |  |  |
| 4.39% <sup>(F)</sup>, 11/17/2025 <sup>(A)</sup> <br>| 4100000 | 4077390 |
| 4.42% <sup>(F)</sup>, 10/15/2025 <sup>(A)</sup> <br>| 2900000 | 2894997 |
| Versailles Commercial Paper LLC |  |  |
| 4.14%, 12/15/2025 | 7000000 | 6939047 |
| Victory Receivables Corp. |  |  |
| 4.41% <sup>(F)</sup>, 10/15/2025 <sup>(A)</sup> <br>| 1700000 | 1697053 |
| 4.48% <sup>(F)</sup>, 10/28/2025 <sup>(A)</sup> <br>| 4000000 | 3987018 |
|  |  | 104279270 |
| &nbsp;&nbsp; **Total Commercial Paper** <br>**(Cost $130,389,880)**<br>|  | 130395728 |
| **SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 3.3%**  | **SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 3.3%**  | **SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 3.3%**  |
| U.S. Treasury Bills |  |  |
| 3.67% <sup>(F)</sup>, 10/09/2025 | 1640000 | 1638520 |
| 4.19% <sup>(F)</sup>, 10/16/2025 | 5959000 | 5948934 |
| 4.28% <sup>(F)</sup>, 10/16/2025 | 5063000 | 5054448 |
| 4.31% <sup>(F)</sup>, 10/02/2025 | 12000000 | 11998659 |
| &nbsp;&nbsp; **Total Short-Term U.S. Government Obligations** <br>**(Cost $24,640,287)** | &nbsp;&nbsp; **Total Short-Term U.S. Government Obligations** <br>**(Cost $24,640,287)** | 24640561 |

---

**Transamerica Series Trust**

**Page 12**

------

**Transamerica Aegon Core Bond VP**

------

**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **OTHER INVESTMENT COMPANY - 0.1%**  | **OTHER INVESTMENT COMPANY - 0.1%**  | **OTHER INVESTMENT COMPANY - 0.1%**  |
| **Securities Lending Collateral - 0.1%**  | **Securities Lending Collateral - 0.1%**  | **Securities Lending Collateral - 0.1%**  |
| &nbsp;&nbsp; State Street Navigator Securities Lending <br> Trust - Government Money Market Portfolio, <br> 4.13% <sup>(F)</sup> <br>| 816145 | $816145 |
| &nbsp;&nbsp; **Total Other Investment Company** <br>**(Cost $816,145)** | &nbsp;&nbsp; **Total Other Investment Company** <br>**(Cost $816,145)** | 816145 |

---

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

---

| | | |
|:---|:---|:---|
|  | **Principal** | **Value** |
| **REPURCHASE AGREEMENT - 1.3%**  | **REPURCHASE AGREEMENT - 1.3%**  | **REPURCHASE AGREEMENT - 1.3%**  |
| &nbsp;&nbsp; Fixed Income Clearing Corp., <br>1.65% <sup>(F)</sup>, dated 09/30/2025, to be <br> repurchased at $9,747,606 on 10/01/2025. <br> Collateralized by a U.S. Government <br> Obligation, 4.25%, due 03/15/2027, and <br> with a value of $9,942,142.<br>| $9747159 | 9747159 |
| &nbsp;&nbsp; **Total Repurchase Agreement** <br>**(Cost $9,747,159)** | &nbsp;&nbsp; **Total Repurchase Agreement** <br>**(Cost $9,747,159)** | 9747159 |
| &nbsp;&nbsp; **Total Investments** <br>**(Cost $880,070,183)** | &nbsp;&nbsp; **Total Investments** <br>**(Cost $880,070,183)** | 882151228 |
| **Net Other Assets (Liabilities) - (17.6)%** | **Net Other Assets (Liabilities) - (17.6)%** | (132220768) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | **$749930460** |

---

**INVESTMENT VALUATION:**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs** <sup>(G)</sup> <br>|  |  |  |  |
|  | **Level 1 -** <br>**Unadjusted** <br>**Quoted Prices**<br>| **Level 2 -** <br>**Other Significant** <br>**Observable Inputs**<br>| **Level 3 -** <br>**Significant** <br>**Unobservable Inputs**<br>| **Value** |
| **ASSETS** |  |  |  |  |
| **Investments** |  |  |  |  |
| U.S. Government Obligations | $— | &nbsp;&nbsp; $232644973 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $232644973 |
| Corporate Debt Securities |  | &nbsp;&nbsp; 232321728 | &nbsp;&nbsp; — | &nbsp;&nbsp; 232321728 |
| U.S. Government Agency Obligations |  | &nbsp;&nbsp; 179571523 | &nbsp;&nbsp; — | &nbsp;&nbsp; 179571523 |
| Mortgage-Backed Securities |  | &nbsp;&nbsp; 37791394 | &nbsp;&nbsp; — | &nbsp;&nbsp; 37791394 |
| Asset-Backed Securities |  | &nbsp;&nbsp; 31320644 | &nbsp;&nbsp; — | &nbsp;&nbsp; 31320644 |
| Foreign Government Obligations |  | &nbsp;&nbsp; 2901373 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2901373 |
| Commercial Paper |  | &nbsp;&nbsp; 130395728 | &nbsp;&nbsp; — | &nbsp;&nbsp; 130395728 |
| Short-Term U.S. Government Obligations |  | &nbsp;&nbsp; 24640561 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24640561 |
| Other Investment Company | 816145 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 816145 |
| Repurchase Agreement |  | &nbsp;&nbsp; 9747159 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9747159 |
| **Total Investments** | **$816145** | &nbsp;&nbsp; **$881335083** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$882151228** |

---

**FOOTNOTES TO SCHEDULE OF INVESTMENTS:** 

\* *Percentage rounds to less than 0.1% or (0.1)%.*

<sup>(A)</sup> *Security is exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Security may be resold as transactions exempt from* *registration, normally to qualified institutional buyers. At September 30, 2025, the total value of 144A securities is $241,694,081, representing 32.2% of* *the Portfolio's net assets.* 

<sup>(B)</sup> *Floating or variable rate security. The rate disclosed is as of September 30, 2025. For securities based on a published reference rate and spread, the* *reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate,* *where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and* *are based on current market conditions; these securities do not indicate a reference rate and spread in the description.* 

<sup>(C)</sup> *All or a portion of the security is on loan. The total value of the securities on loan is $798,863, collateralized by cash collateral of $816,145. The amount* *on loan indicated may not correspond with the securities on loan identified because a security with pending sales are in the process of recall from the* *brokers.* 

<sup>(D)</sup> *When-issued, delayed-delivery and/or forward commitment (including TBAs) security. Security to be settled and delivered after September 30, 2025.* *Security may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.* 

**Transamerica Series Trust**

**Page 13**

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**Transamerica Aegon Core Bond VP**

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**SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

**FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):**

<sup>(E)</sup> *Rounds to less than $1 or $(1).*

<sup>(F)</sup> *Rate disclosed reflects the yield at September 30, 2025.*

<sup>(G)</sup> *There were no transfers in or out of Level 3 during the period ended September 30, 2025. Please reference the Investment Valuation section of the* *Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.* 

**PORTFOLIO ABBREVIATION(S):** 

---

| | |
|:---|:---|
| *CLO* | *Collateralized Loan Obligation* |
| *CMT* | *Constant Maturity Treasury* |
| *MTA* | *Month Treasury Average* |
| *REIT* | *Real Estate Investment Trust* |
| *RFUCC* | *Refinitiv USD IBOR Consumer Cash Fallbacks* |
| *SOFR* | *Secured Overnight Financing Rate* |
| *STRIPS* | *Separate Trading of Registered Interest and Principal of Securities* |
| *TBA* | *To Be Announced* |

---

**Transamerica Series Trust**

**Page 14**

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**Transamerica Aegon Core Bond VP**

------

**NOTES TO SCHEDULE OF INVESTMENTS**

**At September 30, 2025**

**(unaudited)**

**INVESTMENT VALUATION**

Transamerica Aegon Core Bond VP (the "Portfolio") is a series of the Transamerica Series Trust.

Transamerica Asset Management, Inc. ("TAM") has been designated as the Portfolio's valuation designee pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, with responsibility for fair valuation subject to oversight by the Portfolio's Board of Trustees. The net asset value of the Portfolio is computed as of the official close of the New York Stock Exchange ("NYSE") each day the NYSE is open for business.

TAM utilizes various methods to measure the fair value of its investments on a recurring basis. Generally Accepted Accounting Principles in the United States of America establishes a hierarchy that prioritizes inputs to valuation methods. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The three levels ("Levels") of inputs of the fair value hierarchy are defined as follows:

Level 1—Unadjusted quoted prices in active markets for identical securities.

Level 2—Inputs, other than quoted prices included in Level 1, which are observable, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.

Level 3—Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include TAM's own assumptions used in determining the fair value of the Portfolio's investments.

The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy that is assigned to the fair value measurement of a security is determined based on the lowest Level input that is significant to the fair value measurement in its entirety. Certain investments that are measured at fair value using Net Asset Value ("NAV") per share, or its equivalent, using the "practical expedient" have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Portfolio's investments at September 30, 2025, is disclosed within the Investment Valuation section of the Schedule of Investments.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, but not limited to, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is generally greatest for instruments categorized in Level 3. Due to the inherent uncertainty of valuation, the determination of values may differ significantly from values that would have been realized had a ready market for investments existed, and the differences could be material.

**Fair value measurements:** Descriptions of the valuation techniques applied to the Portfolio's significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:

*Asset-backed securities:* The fair value of asset-backed securities is estimated based on models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield, and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

*Commercial paper:* Commercial paper is valued using amortized cost, which approximates fair value. The values are generally categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

*Corporate debt securities:* The fair value of corporate debt securities is estimated using various techniques, which consider recently executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, fundamental data relating to the issuer, and credit default swap spreads adjusted for any basis difference between cash and derivative instruments. While most corporate debt securities are categorized in Level 2 of the fair value hierarchy, in instances where lower relative weight is placed on transaction prices, quotations, or similar observable inputs, they are categorized in Level 3.

**Transamerica Series Trust**

**Page 15**

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**Transamerica Aegon Core Bond VP**

------

**NOTES TO SCHEDULE OF INVESTMENTS (continued)**

**At September 30, 2025**

**(unaudited)**

*Foreign government obligations:* Foreign government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. Foreign government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

*Mortgage-backed securities:* The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.

*U.S. government agency obligations:* U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced ("TBA") securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

*U.S. government obligations:* U.S. government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. U.S. government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

*Short-term notes:* The Portfolio normally values short-term government and U.S. government agency securities using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers and reference data. Certain securities are valued by principally using dealer quotations. Short-term government and U.S. government agency securities generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

*Securities lending collateral:* Securities lending collateral is invested in a money market fund which is valued at the actively traded NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.

*Repurchase agreements:* Repurchase agreements are valued at cost, which approximates fair value. To the extent the inputs are observable and timely, the values are generally categorized in Level 2 of the fair value hierarchy.

**Transamerica Series Trust**

**Page 16**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** TRANSAMERICA SERIES TRUST

- **b. Investment Company Act file number:** 811-04419

- **c. CIK number of Registrant:** 0000778207

- **d. LEI of Registrant:** 5493000QR1WGXIM5V222

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

  - **Street Address 1:** 1801 CALIFORNIA STREET

  - **City:** DENVER

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80202

  - **Telephone number:** 720-493-4256

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

- **a. Name of Series:** Transamerica Aegon Core Bond VP

- **b. EDGAR series identifier (if any):** S000007896

- **c. LEI of Series:** 5493000FFMR7RP5KH592

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $884337601.43

**Total Liabilities:** $157340683.21

**Net Assets:** $726996918.22

**Delayed Delivery Securities:** $155163912.95

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -620.21000000 | **1-Year:** -14202.70000000 | **5-Year:** -53418.19000000 | **10-Year:** -69226.10000000 | **30-Year:** -18016.18000000

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

- **3-Month:** -36.09000000 | **1-Year:** -1919.19000000 | **5-Year:** -5435.67000000 | **10-Year:** -2403.22000000 | **30-Year:** -28.74000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021438 | -0.25%               | 1.15%                | 1.11%                |
| Class ID C000021437 | -0.18%               | 1.18%                | 1.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $432782.31               | $-2601581.24                               |
| Month 2  | $912482.93               | $3141170.60                                |
| Month 3  | $2337169.67              | $3050952.62                                |

**Designated Index Information**

- **Index Name:** Securities Portfolio VaR

- **Index Identifier:** Designated Reference Portfolio is the Fund's Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Hilton Grand Vacations Trust                                                    | Hilton Grand Vacations Trust                                                           | CUSIP: 43285JAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    869298 | PA      | $871163.23    | 0.12%             | 2044-05-25      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| SAFEHOLD GL HOLDINGS LLC                                                        | Safehold GL Holdings LLC                                                               | CUSIP: 785931AA4<br>LEI: 54930012UY5Z4Q8NL108 | Long             | DBT              |  | US        |    848000 | PA      | $893340.52    | 0.12%             | 2034-04-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS I LLC                                                            | QTS Issuer ABS I LLC                                                                   | CUSIP: 74690DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1572000 | PA      | $1605557.64   | 0.22%             | 2055-05-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                             | JPMorgan Chase & Co.                                                                   | CUSIP: 46647PFC5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1529000 | PA      | $1585086.78   | 0.22%             | 2036-07-23      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                                          | CHL Mortgage Pass-Through Trust                                                        | CUSIP: 12669FQA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     18195 | PA      | $18221.54     | 0.00%             | 2034-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                       | Towd Point Mortgage Trust                                                              | CUSIP: 89175JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    371109 | PA      | $365320.76    | 0.05%             | 2057-10-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1172000 | PA      | $1037174.22   | 0.14%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                                   | Boeing Co.                                                                             | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    561000 | PA      | $639934.44    | 0.09%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 912828R36<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12748100 | PA      | $12578689.73  | 1.73%             | 2026-05-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                             | JPMorgan Chase & Co.                                                                   | CUSIP: 46647PCB0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1621000 | PA      | $1597704.35   | 0.22%             | 2027-04-22      | Fixed         | 1.58%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC                                                        | Vantage Data Centers LLC                                                               | CUSIP: 92212KAH9<br>LEI: 5493000RL8X7WTQ7HO20 | Long             | ABS-O            | CORP              | US        |   3570000 | PA      | $3588080.98   | 0.49%             | 2055-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Corporation                                             | Banc of America Funding Trust, Principal Only STRIPS                                   | CUSIP: 05946XV83<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5290 | PA      | $5498.31      | 0.00%             | 2035-11-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                                        | Avolon Holdings Funding Ltd.                                                           | CUSIP: 05401ABA8<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1480000 | PA      | $1488097.72   | 0.20%             | 2030-10-10      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MONT BLANC CAPITAL CORP                                                         | Mont Blanc Capital Corp.                                                               | CUSIP: 6117P4YH7<br>LEI: 549300NC8BUDZTUFIQ67 | Long             | STIV             | CORP              | US        |   4100000 | PA      | $4077389.73   | 0.56%             | 2025-11-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                         | HCA, Inc.                                                                              | CUSIP: 404119CU1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    853000 | PA      | $885486.23    | 0.12%             | 2034-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810SN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2388000 | PA      | $1171332.65   | 0.16%             | 2050-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 3137ABAC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     16441 | PA      | $15815.35     | 0.00%             | 2041-05-15      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CDQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1935000 | PA      | $1877479.11   | 0.26%             | 2026-12-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| CHILE ELECTRICITY LUX                                                           | Chile Electricity Lux MPC II SARL                                                      | CUSIP: 16882LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    628536 | PA      | $649138.12    | 0.09%             | 2035-10-20      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810RN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3573300 | PA      | $2715289.24   | 0.37%             | 2045-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31392R3H2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     25353 | PA      | $26584.59     | 0.00%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Owens Corning                                                                   | Owens Corning                                                                          | CUSIP: 690742AG6<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |   1056000 | PA      | $870257.06    | 0.12%             | 2047-07-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MLCC Mortgage Investors Inc                                                     | Merrill Lynch Mortgage Investors Trust                                                 | CUSIP: 59020UAR6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | ABS-MBS          | CORP              | US        |     28706 | PA      | $26541.42     | 0.00%             | 2029-04-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 9128286B1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    529000 | PA      | $511848.83    | 0.07%             | 2029-02-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810RY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2457000 | PA      | $1781133.06   | 0.24%             | 2047-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                        | OBX Trust                                                                              | CUSIP: 67118TAA2<br>LEI: 254900LSNFNEGAD7J679 | Long             | ABS-MBS          | CORP              | US        |    265534 | PA      | $268303.16    | 0.04%             | 2064-01-25      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| GM Financial Revolving Receivables Trust                                        | GM Financial Revolving Receivables Trust                                               | CUSIP: 36263HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2239000 | PA      | $2180360.37   | 0.30%             | 2034-06-12      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375PQ61<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      7342 | PA      | $7351.11      | 0.00%             | 2037-10-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31396UCL2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     14438 | PA      | $14984.13     | 0.00%             | 2036-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                                                 | Cigna Group                                                                            | CUSIP: 125523CL2<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    987000 | PA      | $911005.82    | 0.13%             | 2030-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                                          | NXP BV/NXP Funding LLC/NXP USA, Inc.                                                   | CUSIP: 62954HBH0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1160000 | PA      | $1171842.94   | 0.16%             | 2035-08-19      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CJQ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1681000 | PA      | $1679161.41   | 0.23%             | 2030-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                             | JPMorgan Chase & Co.                                                                   | CUSIP: 46647PEB8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3080000 | PA      | $3155308.06   | 0.43%             | 2030-01-23      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| TYCO ELECTRONICS GROUP S                                                        | Tyco Electronics Group SA                                                              | CUSIP: 902133BD8<br>LEI: C33G1C5SYE2YM95EE712 | Long             | DBT              | CORP              | LU        |   1273000 | PA      | $1291611.51   | 0.18%             | 2035-05-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHELL INTERNATIONAL FIN                                                         | Shell International Finance BV                                                         | CUSIP: 822582BX9<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    595000 | PA      | $587844.60    | 0.08%             | 2026-09-12      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Sheffield Receivables Co LLC                                                    | Sheffield Receivables Co. LLC                                                          | CUSIP: 82124LYM8<br>LEI: 549300MYF6MOTU9T3G29 | Long             | STIV             | CORP              | US        |   2700000 | PA      | $2683895.58   | 0.37%             | 2025-11-21      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                                    | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    585000 | PA      | $595037.43    | 0.08%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                                          | Roper Technologies, Inc.                                                               | CUSIP: 776696AJ5<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    972000 | PA      | $973105.76    | 0.13%             | 2034-10-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0204A4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3501000 | PA      | $3216885.94   | 0.44%             | 2040-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND ELECTRIC ILLUM                                                        | Cleveland Electric Illuminating Co.                                                    | CUSIP: 186108CE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    107000 | PA      | $113819.24    | 0.02%             | 2036-12-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3138NXRT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    211422 | PA      | $194213.29    | 0.03%             | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                                             | General Electric Co.                                                                   | CUSIP: 369604BH5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |   1694000 | PA      | $1549363.30   | 0.21%             | 2044-03-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GLENCOVE FUNDING LLC                                                            | Glencove Funding LLC                                                                   | CUSIP: 37828VZ14<br>LEI: 549300XUUQZO7I38ZR06 | Long             | STIV             | CORP              | IE        |   4000000 | PA      | $3971778.40   | 0.55%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3133KNNT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    788484 | PA      | $692909.87    | 0.10%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128NUBP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3834 | PA      | $3940.47      | 0.00%             | 2036-10-01      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31397QW95<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     91310 | PA      | $10747.72     | 0.00%             | 2041-01-25      | Floating      | 2.06%                 | No            |                  2 | On Loan: No      |
| Renew Financial                                                                 | Renew Financial                                                                        | CUSIP: 75973LAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     79024 | PA      | $73814.65     | 0.01%             | 2052-09-20      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3382000 | PA      | $3144071.02   | 0.43%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                                    | Barclays PLC                                                                           | CUSIP: 06738ECZ6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    731000 | PA      | $762882.45    | 0.10%             | 2036-02-25      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375PYG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     21487 | PA      | $240.30       | 0.00%             | 2038-02-20      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                                                     | Hertz Vehicle Financing III LLC                                                        | CUSIP: 42806MCA5<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |    955000 | PA      | $972841.98    | 0.13%             | 2028-02-25      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                           | Wells Fargo & Co.                                                                      | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1444000 | PA      | $1515407.42   | 0.21%             | 2036-04-23      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                                         | GLP Capital LP/GLP Financing II, Inc.                                                  | CUSIP: 361841AV1<br>LEI: N/A                  | Long             | DBT              |  | US        |   1293000 | PA      | $1295107.59   | 0.18%             | 2033-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31393DJU6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5140 | PA      | $5052.23      | 0.00%             | 2033-07-25      | Floating      | 2.58%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                    | UBS Group AG                                                                           | CUSIP: 225401AZ1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1384000 | PA      | $1526667.92   | 0.21%             | 2033-08-12      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                                        | AerCap Ireland Capital DAC/AerCap Global Aviation Trust                                | CUSIP: 00774MBM6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    750000 | PA      | $746555.68    | 0.10%             | 2034-09-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                                                 | SBA Tower Trust                                                                        | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              |  | US        |   2168000 | PA      | $2226061.64   | 0.31%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                                           | Micron Technology, Inc.                                                                | CUSIP: 595112CD3<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1174491.42   | 0.16%             | 2031-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140QM6G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    753747 | PA      | $662547.32    | 0.09%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 3133TQC54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13285 | PA      | $13731.88     | 0.00%             | 2030-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1147000 | PA      | $1154168.75   | 0.16%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 3136AAJ71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5847 | PA      | $5836.85      | 0.00%             | 2041-08-25      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CHC8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1284000 | PA      | $1233342.19   | 0.17%             | 2033-05-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                                      | MFA Trust                                                                              | CUSIP: 55283QAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    552111 | PA      | $505859.30    | 0.07%             | 2060-07-25      | Variable      | 1.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CNP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15586000 | PA      | $15649926.91  | 2.15%             | 2027-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0224A0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2381000 | PA      | $2238938.40   | 0.31%             | 2040-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                                    | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    290000 | PA      | $263672.67    | 0.04%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| TAKEDA US FIN                                                                   | Takeda U.S. Financing, Inc.                                                            | CUSIP: 87406BAA0<br>LEI: 254900ZGPIBGBZ2N3A33 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1295960.01   | 0.18%             | 2035-07-07      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CKC4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2104000 | PA      | $2151340.00   | 0.30%             | 2031-02-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                                         | WaMu Mortgage Pass-Through Certificates Trust                                          | CUSIP: 92922FEV6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12547 | PA      | $12456.92     | 0.00%             | 2033-10-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140FXHG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1020222 | PA      | $1060943.41   | 0.15%             | 2058-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                    | Broadcom, Inc.                                                                         | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1122000 | PA      | $970715.85    | 0.13%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| GSMPS Mortgage Loan Trust                                                       | GSMPS Mortgage Loan Trust                                                              | CUSIP: 36242DT52<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     65411 | PA      | $61518.41     | 0.01%             | 2035-03-25      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                    | UBS Group AG                                                                           | CUSIP: 225401BM9<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    691000 | PA      | $688655.69    | 0.09%             | 2031-09-23      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CLD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2349000 | PA      | $2384693.78   | 0.33%             | 2031-07-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810QA9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1395000 | PA      | $1276207.03   | 0.18%             | 2039-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                                  | Rocket Cos., Inc.                                                                      | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1042000 | PA      | $1069425.44   | 0.15%             | 2030-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| FannieMae Whole Loan                                                            | Federal National Mortgage Association Whole Loan                                       | CUSIP: 31395D7H6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30019 | PA      | $29779.20     | 0.00%             | 2046-11-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL SA                                                                | ArcelorMittal SA                                                                       | CUSIP: 03938LBE3<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |   1373000 | PA      | $1432620.22   | 0.20%             | 2027-11-29      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                                           | Amrize Finance U.S. LLC                                                                | CUSIP: 43475RAD8<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    742000 | PA      | $764361.51    | 0.11%             | 2035-04-07      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                                           | Truist Financial Corp.                                                                 | CUSIP: 89788MAM4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1802000 | PA      | $1830831.28   | 0.25%             | 2034-01-26      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 31418APN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    232540 | PA      | $219487.58    | 0.03%             | 2043-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128S4ZC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3613 | PA      | $3678.28      | 0.00%             | 2037-03-01      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375LGF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3036 | PA      | $3317.09      | 0.00%             | 2037-09-20      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                                          | Philip Morris International, Inc.                                                      | CUSIP: 718172DQ9<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   1384000 | PA      | $1394885.59   | 0.19%             | 2034-11-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                                                        | Huntington Ingalls Industries, Inc.                                                    | CUSIP: 446413AZ9<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |   1684000 | PA      | $1581619.86   | 0.22%             | 2028-08-16      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375BYQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       448 | PA      | $447.24       | 0.00%             | 2062-07-20      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1041800 | PA      | $589349.51    | 0.08%             | 2051-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1651632 | PA      | $1669436.33   | 0.23%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128NFGD3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      9913 | PA      | $10094.08     | 0.00%             | 2036-10-01      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    188400 | PA      | $190136.81    | 0.03%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                                    | Barclays PLC                                                                           | CUSIP: 06738ECC7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1604000 | PA      | $1607693.03   | 0.22%             | 2026-11-02      | Fixed         | 7.33%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                                                | Duke Energy Corp.                                                                      | CUSIP: 26441CAT2<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1876000 | PA      | $1438143.25   | 0.20%             | 2046-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                                             | Intesa Sanpaolo SpA                                                                    | CUSIP: 46115HBV8<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   1238000 | PA      | $1461003.44   | 0.20%             | 2033-11-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LKQ CORP                                                                        | LKQ Corp.                                                                              | CUSIP: 501889AF6<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | DBT              | CORP              | US        |    621000 | PA      | $662697.91    | 0.09%             | 2033-06-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31398WRF3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18665 | PA      | $18547.65     | 0.00%             | 2040-02-15      | Floating      | 2.54%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2167200 | PA      | $1552341.65   | 0.21%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31359SDC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       833 | PA      | $869.36       | 0.00%             | 2031-03-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31396LVP2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7085 | PA      | $6169.81      | 0.00%             | 2036-11-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ladder Capital Commercial Mortgage Securities LLC                               | Ladder Capital Commercial Mortgage Trust                                               | CUSIP: 50184BAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    154000 | PA      | $146280.70    | 0.02%             | 2036-02-15      | Fixed         | 3.99%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                                                 | Fair Isaac Corp.                                                                       | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    701000 | PA      | $709722.66    | 0.10%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Cancara Asset Securitisation LLC                                                | Cancara Asset Securitisation LLC                                                       | CUSIP: 13738JY79<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   3600000 | PA      | $3584222.28   | 0.49%             | 2025-11-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                                                          | Anglo American Capital PLC                                                             | CUSIP: 034863AU4<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    972000 | PA      | $977453.97    | 0.13%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Duke Energy Progress LLC                                                        | Duke Energy Progress LLC                                                               | CUSIP: 26442UAE4<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $986242.34    | 0.14%             | 2047-09-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1669000 | PA      | $1671868.59   | 0.23%             | 2053-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                           | Venture Global Plaquemines LNG LLC                                                     | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1564000 | PA      | $1765299.75   | 0.24%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                           | Foundry JV Holdco LLC                                                                  | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   1282000 | PA      | $1335544.97   | 0.18%             | 2034-01-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5312500 | PA      | $5374755.86   | 0.74%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington Mutual MSC Mortgage Pass-Through CTFS                                | Washington Mutual MSC Mortgage Pass-Through Certificates Trust, Principal Only STRIPS  | CUSIP: 939336TX1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        97 | PA      | $77.86        | 0.00%             | 2033-03-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 31392KMK9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      6268 | PA      | $601.26       | 0.00%             | 2032-03-15      | Floating      | 3.51%                 | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgages Trust                                           | MASTR Adjustable Rate Mortgages Trust                                                  | CUSIP: 576433UM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3927 | PA      | $3769.01      | 0.00%             | 2034-11-21      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2731000 | PA      | $2478702.55   | 0.34%             | 2043-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810SL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6673500 | PA      | $3990805.12   | 0.55%             | 2050-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                                                 | Cigna Group                                                                            | CUSIP: 125523CZ1<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1219000 | PA      | $1234534.91   | 0.17%             | 2036-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ANGLESEA FUNDING LLC                                                            | Anglesea Funding LLC                                                                   | CUSIP: 0347M2XA9<br>LEI: 549300JC7SH8MD7E2Z33 | Long             | STIV             | CORP              | US        |   5700000 | PA      | $5693454.69   | 0.78%             | 2025-10-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                          | Williams Cos., Inc.                                                                    | CUSIP: 96950FAN4<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    108000 | PA      | $104823.21    | 0.01%             | 2044-03-04      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                       | Towd Point Mortgage Trust                                                              | CUSIP: 89173UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    749797 | PA      | $734489.68    | 0.10%             | 2057-06-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31394AVD5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3499 | PA      | $3127.19      | 0.00%             | 2032-12-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                                                                   | J.M. Smucker Co.                                                                       | CUSIP: 832696AY4<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    444000 | PA      | $484191.07    | 0.07%             | 2043-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                                               | Citigroup Mortgage Loan Trust, Inc.                                                    | CUSIP: 17307GBH0<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |      1820 | PA      | $1747.93      | 0.00%             | 2033-10-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                          | Diamondback Energy, Inc.                                                               | CUSIP: 25278XAZ2<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |   1452000 | PA      | $1482321.23   | 0.20%             | 2034-04-18      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Accelerated Assets                                                              | Accelerated LLC                                                                        | CUSIP: 00439KAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450210 | PA      | $421422.76    | 0.06%             | 2040-10-20      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31394DAA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16986 | PA      | $16845.12     | 0.00%             | 2035-04-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corp                                                                 | CMS Energy Corp.                                                                       | CUSIP: 125896BN9<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    189000 | PA      | $171274.91    | 0.02%             | 2044-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CKT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2010000 | PA      | $2066374.23   | 0.28%             | 2029-05-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bills                                                                    | CUSIP: 912797QF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  11022000 | PA      | $11003381.97  | 1.51%             | 2025-10-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810RT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2088300 | PA      | $1393287.66   | 0.19%             | 2046-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MASTR Resecuritization Trust                                                    | MASTR Resecuritization Trust, Principal Only STRIPS                                    | CUSIP: 576435BB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3287 | PA      | $2571.72      | 0.00%             | 2035-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VERSAILLES COM PAPER LLC                                                        | Versailles Commercial Paper LLC                                                        | CUSIP: 92512LZF1<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   7000000 | PA      | $6939046.80   | 0.95%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38374KF73<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        32 | PA      | $34.37        | 0.00%             | 2034-05-18      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                                                                 | Weyerhaeuser Co.                                                                       | CUSIP: 962166BY9<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              |  | US        |   1175000 | PA      | $1158773.12   | 0.16%             | 2030-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LMA AMERICAS LLC                                                                | LMA-Americas LLC                                                                       | CUSIP: 53944QYC8<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   5700000 | PA      | $5671629.96   | 0.78%             | 2025-11-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors                                                    | State Street Navigator Securities Lending Government Money Market Portfolio            | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |    820155 | NS      | $820155.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 31371LFJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3548 | PA      | $3545.24      | 0.00%             | 2033-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810SC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2660000 | PA      | $2051109.38   | 0.28%             | 2048-05-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 3133TVTX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15834 | PA      | $16580.01     | 0.00%             | 2032-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6238000 | PA      | $6310614.19   | 0.87%             | 2032-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                | T-Mobile USA, Inc.                                                                     | CUSIP: 87264ADF9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1131000 | PA      | $1156984.85   | 0.16%             | 2034-04-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375Y2X9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13879 | PA      | $788.18       | 0.00%             | 2038-12-20      | Floating      | 1.45%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                          | Sequoia Mortgage Trust                                                                 | CUSIP: 81744FFJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9420 | PA      | $8636.04      | 0.00%             | 2034-12-20      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                                   | ZF North America Capital, Inc.                                                         | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   1028000 | PA      | $984214.19    | 0.14%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Metlife Securitization Trust                                                    | MetLife Securitization Trust                                                           | CUSIP: 59166EAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    483889 | PA      | $478172.95    | 0.07%             | 2058-04-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38374TRY2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13023 | PA      | $990.55       | 0.00%             | 2039-04-20      | Floating      | 2.02%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128NHSF1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1855 | PA      | $1888.03      | 0.00%             | 2036-12-01      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CNR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6813000 | PA      | $6844935.94   | 0.94%             | 2032-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hin Timeshare Trust                                                             | HINNT LLC                                                                              | CUSIP: 40472QAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    229166 | PA      | $233232.04    | 0.03%             | 2043-03-15      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Principal Only STRIPS                 | CUSIP: 38373QR86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     11416 | PA      | $10174.76     | 0.00%             | 2033-06-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375LD23<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     20462 | PA      | $87.57        | 0.00%             | 2037-11-20      | Floating      | 1.75%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                                          | GE HealthCare Technologies, Inc.                                                       | CUSIP: 36266GAA5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    831000 | PA      | $847326.42    | 0.12%             | 2029-08-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31398F4S7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3692 | PA      | $282.06       | 0.00%             | 2039-12-25      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD GRP/CO                                                        | JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, Inc./JBS USA Food Co.           | CUSIP: 472140AE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1827965.90   | 0.25%             | 2036-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                                               | Brown & Brown, Inc.                                                                    | CUSIP: 115236AM3<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |   1437000 | PA      | $1478172.21   | 0.20%             | 2035-06-23      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                                         | Dell International LLC/EMC Corp.                                                       | CUSIP: 24703DBQ3<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |   1308000 | PA      | $1287153.55   | 0.18%             | 2035-02-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                         | Goldman Sachs Group, Inc.                                                              | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1525000 | PA      | $1371478.11   | 0.19%             | 2032-10-21      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140XKUQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2135166 | PA      | $2131347.05   | 0.29%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARGILL INC                                                                     | Cargill, Inc.                                                                          | CUSIP: 141781CD4<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |   1001000 | PA      | $1031172.48   | 0.14%             | 2035-02-11      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP                                                                   | Allstate Corp.                                                                         | CUSIP: 020002BL4<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1830279.36   | 0.25%             | 2029-06-24      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                                       | Amgen, Inc.                                                                            | CUSIP: 031162DA5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    656000 | PA      | $482539.17    | 0.07%             | 2041-08-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810SU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2731000 | PA      | $1559977.08   | 0.21%             | 2051-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                                            | M&T Bank Corp.                                                                         | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    535000 | PA      | $581178.81    | 0.08%             | 2029-10-30      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP                                                          | Aviation Capital Group LLC                                                             | CUSIP: 05369AAK7<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    594000 | PA      | $588748.36    | 0.08%             | 2026-01-30      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE OKLAHOMA                                                         | Public Service Co. of Oklahoma                                                         | CUSIP: 744533BJ8<br>LEI: F3TJNSIZRGXRH8GEIK79 | Long             | DBT              | CORP              | US        |    230000 | PA      | $256143.90    | 0.04%             | 2037-11-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31392B5S1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       541 | PA      | $568.00       | 0.00%             | 2032-03-25      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0206A2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  10636000 | PA      | $8570109.73   | 1.18%             | 2055-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31395NE29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3718 | PA      | $3033.00      | 0.00%             | 2036-07-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                             | New Residential Mortgage Loan Trust                                                    | CUSIP: 64829JAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70540 | PA      | $68760.75     | 0.01%             | 2057-02-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31397AJ95<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7149 | PA      | $6128.76      | 0.00%             | 2036-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA-PACIFIC LLC                                                             | Georgia-Pacific LLC                                                                    | CUSIP: 37331NAT8<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |    702000 | PA      | $720213.69    | 0.10%             | 2032-06-30      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                                             | Elevance Health, Inc.                                                                  | CUSIP: 036752BL6<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    811000 | PA      | $803825.75    | 0.11%             | 2055-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: —       |
| Britannia Funding Co LLC                                                        | Britannia Funding Co. LLC                                                              | CUSIP: 11042LY79<br>LEI: 549300X2ZBE7GS6QP587 | Long             | STIV             | CORP              | US        |   1500000 | PA      | $1493394.30   | 0.21%             | 2025-11-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                          | PNC Financial Services Group, Inc.                                                     | CUSIP: 693475BS3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1082000 | PA      | $1160598.11   | 0.16%             | 2034-08-18      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 313399C47<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8112 | PA      | $8448.61      | 0.00%             | 2031-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                 | CVS Health Corp.                                                                       | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1724000 | PA      | $1809756.83   | 0.25%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Nomura Asset Acceptance Corporation                                             | Nomura Asset Acceptance Corp. Alternative Loan Trust                                   | CUSIP: 65535VAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1858 | PA      | $1888.69      | 0.00%             | 2033-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 16-2 AA PTT                                                        | American Airlines Pass-Through Trust                                                   | CUSIP: 023765AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    252512 | PA      | $244481.97    | 0.03%             | 2028-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                           | Wells Fargo & Co.                                                                      | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1182000 | PA      | $1222906.41   | 0.17%             | 2031-01-24      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140FXRT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    582119 | PA      | $508632.10    | 0.07%             | 2060-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375KA77<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34809 | PA      | $1378.73      | 0.00%             | 2037-07-20      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31397FDQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2118 | PA      | $2100.76      | 0.00%             | 2037-02-15      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Inflation-Protected Indexed Bonds                                        | CUSIP: 912810TP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1133449 | PA      | $906737.36    | 0.12%             | 2053-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CDK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1204000 | PA      | $1170372.65   | 0.16%             | 2026-11-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                                    | Synopsys, Inc.                                                                         | CUSIP: 871607AE7<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    679000 | PA      | $690715.71    | 0.10%             | 2035-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                        | OBX Trust                                                                              | CUSIP: 67120VAA3<br>LEI: 2549006BC0G3YEF5SL09 | Long             | ABS-MBS          | CORP              | US        |    574047 | PA      | $579213.43    | 0.08%             | 2064-11-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                                               | Sierra Timeshare Receivables Funding LLC                                               | CUSIP: 82650BAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    198877 | PA      | $203376.81    | 0.03%             | 2040-04-20      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                                                       | Kroger Co.                                                                             | CUSIP: 501044DV0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    693000 | PA      | $698883.34    | 0.10%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                                           | Amrize Finance U.S. LLC                                                                | CUSIP: 43475RAK2<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    420000 | PA      | $372111.79    | 0.05%             | 2046-09-22      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WP CAREY INC                                                                    | WP Carey, Inc.                                                                         | CUSIP: 92936UAM1<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              |  | US        |    896000 | PA      | $918125.47    | 0.13%             | 2034-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| First National Master Note Trust                                                | First National Master Note Trust                                                       | CUSIP: 32113CBV1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1370000 | PA      | $1377242.92   | 0.19%             | 2029-04-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                              | Alternative Loan Trust                                                                 | CUSIP: 12667FAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     62765 | PA      | $64360.63     | 0.01%             | 2034-03-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140FXTC6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    733164 | PA      | $597901.37    | 0.08%             | 2061-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Wachovia Bank Commercial Mortgage Trust                                         | Wachovia Bank Commercial Mortgage Trust, Interest Only STRIPS                          | CUSIP: 92976BGA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2254 | PA      | $0.02         | 0.00%             | 2045-03-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| 321 Henderson Receivables LLC                                                   | 321 Henderson Receivables VI LLC                                                       | CUSIP: 88576XAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    351388 | PA      | $353716.47    | 0.05%             | 2059-07-15      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                                            | Cross Mortgage Trust                                                                   | CUSIP: 22757JAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3837294 | PA      | $3831117.32   | 0.53%             | 2070-09-25      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38374JXC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     23264 | PA      | $1211.34      | 0.00%             | 2034-10-20      | Floating      | 1.85%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4737000 | PA      | $4919078.44   | 0.68%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                  | Morgan Stanley                                                                         | CUSIP: 61747YFT7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    908000 | PA      | $936918.54    | 0.13%             | 2035-07-19      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CNN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10678000 | PA      | $10742234.79  | 1.48%             | 2030-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810SH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3666200 | PA      | $2674607.47   | 0.37%             | 2049-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                        | OBX Trust                                                                              | CUSIP: 67118XAA3<br>LEI: 254900LMIQVUH9BFZJ05 | Long             | ABS-MBS          | CORP              | US        |    217888 | PA      | $221278.04    | 0.03%             | 2064-02-25      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                                   | Carnival Corp.                                                                         | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    320000 | PA      | $325656.96    | 0.04%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                                                | Black Hills Corp.                                                                      | CUSIP: 092113AY5<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |    568000 | PA      | $567972.99    | 0.08%             | 2031-01-31      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Vendee Mortgage Trust                                                           | Vendee Mortgage Trust                                                                  | CUSIP: 911760KE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19030 | PA      | $19302.49     | 0.00%             | 2027-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31395NJD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8443 | PA      | $672.53       | 0.00%             | 2036-06-25      | Floating      | 2.11%                 | No            |                  2 | On Loan: No      |
| KGS-Alpha SBA COOF Trust                                                        | KGS-Alpha SBA COOF Trust, Interest Only STRIPS                                         | CUSIP: 48248XAA6<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |     90310 | PA      | $2380.26      | 0.00%             | 2039-03-25      | Variable      | 1.71%                 | No            |                  2 | On Loan: No      |
| GTA FUNDING LLC                                                                 | GTA Funding LLC                                                                        | CUSIP: 40060WYD8<br>LEI: 254900AKBBBSYOV90641 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1989865.40   | 0.27%             | 2025-11-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                        | Avis Budget Rental Car Funding AESOP LLC                                               | CUSIP: 05377RHY3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3619834.75   | 0.50%             | 2030-06-20      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bills                                                                    | CUSIP: 912797QE0<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1640000 | PA      | $1638519.80   | 0.23%             | 2025-10-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0526A5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  21752000 | PA      | $21931192.32  | 3.02%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                           | Foundry JV Holdco LLC                                                                  | CUSIP: 350930AG8<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1297017.19   | 0.18%             | 2033-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                                        | Sabine Pass Liquefaction LLC                                                           | CUSIP: 785592AU0<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    569000 | PA      | $568389.94    | 0.08%             | 2028-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128NFFX0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     10461 | PA      | $10671.75     | 0.00%             | 2036-07-01      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                        | OBX Trust                                                                              | CUSIP: 673918AC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2500098.50   | 0.34%             | 2065-09-25      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140QM4X9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    778458 | PA      | $664619.62    | 0.09%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                                                                | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3132HT3R5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2328 | PA      | $2321.08      | 0.00%             | 2044-03-15      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 3139204T4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5784 | PA      | $6068.10      | 0.00%             | 2031-09-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                                       | ONEOK, Inc.                                                                            | CUSIP: 682680BG7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1359000 | PA      | $1456252.69   | 0.20%             | 2032-11-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                | BAT Capital Corp.                                                                      | CUSIP: 05526DCC7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1698000 | PA      | $1764227.71   | 0.24%             | 2035-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD                                                        | Aptiv Swiss Holdings Ltd.                                                              | CUSIP: 00217GAB9<br>LEI: 254900HTTDFIJZ32GX53 | Long             | DBT              | CORP              | JE        |    704000 | PA      | $647528.53    | 0.09%             | 2032-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH INC                                                                | Sensata Technologies, Inc.                                                             | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    899000 | PA      | $867675.24    | 0.12%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Thornburg Mortgage Securities Trust                                             | Thornburg Mortgage Securities Trust                                                    | CUSIP: 885220GF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15325 | PA      | $14954.34     | 0.00%             | 2044-12-25      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                                                | LPL Holdings, Inc.                                                                     | CUSIP: 50212YAJ3<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    558000 | PA      | $568520.17    | 0.08%             | 2027-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| EATON CAPITAL ULC                                                               | Eaton Capital ULC                                                                      | CUSIP: 27806HAA9<br>LEI: 549300OLS85LSODKAF64 | Long             | DBT              | CORP              | IE        |    765000 | PA      | $772930.22    | 0.11%             | 2030-05-09      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31393EQX0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2187 | PA      | $2285.03      | 0.00%             | 2033-09-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                                         | Bristol-Myers Squibb Co.                                                               | CUSIP: 110122EL8<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    409000 | PA      | $405615.52    | 0.06%             | 2064-02-22      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Structured Adjustable Rate Mortgage Loan Trust                                  | Structured Adjustable Rate Mortgage Loan Trust                                         | CUSIP: 86359BGJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     37686 | PA      | $36455.62     | 0.01%             | 2034-02-25      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31397SMD3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12011 | PA      | $858.92       | 0.00%             | 2041-04-25      | Variable      | 1.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    857000 | PA      | $850739.88    | 0.12%             | 2044-05-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 31397PAT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2382 | PA      | $169.56       | 0.00%             | 2037-11-15      | Floating      | 1.51%                 | No            |                  2 | On Loan: No      |
| INGERSOLL RAND INC                                                              | Ingersoll Rand, Inc.                                                                   | CUSIP: 45687VAF3<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |    842000 | PA      | $877899.34    | 0.12%             | 2034-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                            | Bank of America Corp.                                                                  | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3659000 | PA      | $3826199.03   | 0.53%             | 2029-09-15      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| KGS-Alpha SBA COOF Trust                                                        | KGS-Alpha SBA COOF Trust, Interest Only STRIPS                                         | CUSIP: 48247KAA5<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |     97750 | PA      | $1708.29      | 0.00%             | 2038-08-25      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| FannieMae Whole Loan                                                            | Federal National Mortgage Association REMICS                                           | CUSIP: 31394AB47<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     21157 | PA      | $21789.15     | 0.00%             | 2044-05-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Inflation-Protected Indexed Bonds                                        | CUSIP: 912810PZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7544365 | PA      | $7882560.31   | 1.08%             | 2029-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                                        | Capital One Financial Corp.                                                            | CUSIP: 14040HDH5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1680000 | PA      | $1761946.42   | 0.24%             | 2035-07-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0304A3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2240000 | PA      | $2145466.65   | 0.30%             | 2040-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 31418AHQ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     78420 | PA      | $77250.59     | 0.01%             | 2032-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                              | Meta Platforms, Inc.                                                                   | CUSIP: 30303M8M7<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   1013000 | PA      | $1045724.22   | 0.14%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| VERALTO CORP                                                                    | Veralto Corp.                                                                          | CUSIP: 92338CAF0<br>LEI: 635400FJE6GSOJUSNY27 | Long             | DBT              | CORP              | US        |    701000 | PA      | $733048.67    | 0.10%             | 2033-09-18      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31394AR81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5262 | PA      | $5841.33      | 0.00%             | 2031-11-25      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| MANHATTAN ASSET FDG CO                                                          | Manhattan Asset Funding Co. LLC                                                        | CUSIP: 56274LXG4<br>LEI: 549300S0NSJYSOB32S63 | Long             | STIV             | CORP              | US        |   4300000 | PA      | $4292084.56   | 0.59%             | 2025-10-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BRITANNIA FUNDING CO LLC                                                        | Britannia Funding Co. LLC                                                              | CUSIP: 11042LXF2<br>LEI: 549300X2ZBE7GS6QP587 | Long             | STIV             | CORP              | US        |   4250000 | PA      | $4242650.48   | 0.58%             | 2025-10-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810SX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2728300 | PA      | $1755277.40   | 0.24%             | 2051-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 3137A6CE0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     17362 | PA      | $1566.00      | 0.00%             | 2040-01-15      | Floating      | 1.85%                 | No            |                  2 | On Loan: No      |
| MLCC Mortgage Investors Inc                                                     | Merrill Lynch Mortgage Investors Trust                                                 | CUSIP: 59020UNN1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | ABS-MBS          | CORP              | US        |     11723 | PA      | $11029.54     | 0.00%             | 2034-12-25      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CAE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  29662000 | PA      | $25573047.03  | 3.52%             | 2030-08-15      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                 | BRAVO Residential Funding Trust                                                        | CUSIP: 105698AC8<br>LEI: 254900T3YTF92WA96N66 | Long             | ABS-MBS          | CORP              | US        |   1461393 | PA      | $1472062.65   | 0.20%             | 2064-10-27      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31393BFR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5947 | PA      | $786.05       | 0.00%             | 2033-05-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31395BTU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8886 | PA      | $7625.41      | 0.00%             | 2036-03-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                                               | General Motors Co.                                                                     | CUSIP: 37045VBC3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    564000 | PA      | $577060.63    | 0.08%             | 2028-04-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| GSMPS Mortgage Loan Trust                                                       | GSMPS Mortgage Loan Trust                                                              | CUSIP: 362341LL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     46109 | PA      | $39592.65     | 0.01%             | 2035-09-25      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| CORP FINANCIERA DE DESAR                                                        | Corp. Financiera de Desarrollo SA                                                      | CUSIP: 21987DAH7<br>LEI: 254900BOM7T4MG6T0J30 | Long             | DBT              | NUSS              | PE        |    392000 | PA      | $402956.40    | 0.06%             | 2030-05-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    832000 | PA      | $767975.00    | 0.11%             | 2054-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31396XUU6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14306 | PA      | $1182.97      | 0.00%             | 2037-09-25      | Floating      | 2.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140QUVB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1572902 | PA      | $1612676.63   | 0.22%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                          | Verizon Communications, Inc.                                                           | CUSIP: 92343VFW9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   2104000 | PA      | $1297306.18   | 0.18%             | 2056-10-30      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| FannieMae Whole Loan                                                            | Federal National Mortgage Association REMICS Trust, Interest Only STRIPS               | CUSIP: 31392ET34<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    108528 | PA      | $4287.34      | 0.00%             | 2042-08-25      | Variable      | 0.90%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                                             | General Electric Co.                                                                   | CUSIP: 369604BF9<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    442000 | PA      | $383610.28    | 0.05%             | 2042-10-09      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                         | GSR Mortgage Loan Trust                                                                | CUSIP: 3623417C7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | ABS-MBS          | CORP              | US        |     31117 | PA      | $12776.88     | 0.00%             | 2036-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GTA FUNDING LLC                                                                 | GTA Funding LLC                                                                        | CUSIP: 40060WYK2<br>LEI: 254900AKBBBSYOV90641 | Long             | STIV             | CORP              | US        |   1500000 | PA      | $1491395.85   | 0.21%             | 2025-11-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 3137B2JP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    287798 | PA      | $281519.08    | 0.04%             | 2043-06-15      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgages Trust                                           | MASTR Adjustable Rate Mortgages Trust                                                  | CUSIP: 576433KX3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4381 | PA      | $3953.14      | 0.00%             | 2034-04-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| GXO LOGISTICS INC                                                               | GXO Logistics, Inc.                                                                    | CUSIP: 36262GAD3<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |   1855000 | PA      | $1653259.44   | 0.23%             | 2031-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                                        | AerCap Ireland Capital DAC/AerCap Global Aviation Trust                                | CUSIP: 00774MAL9<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1592000 | PA      | $1591816.04   | 0.22%             | 2026-04-03      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                                                         | Laboratory Corp. of America Holdings                                                   | CUSIP: 50540RBB7<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |   1240000 | PA      | $1230375.78   | 0.17%             | 2034-10-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375QK73<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     11997 | PA      | $143.23       | 0.00%             | 2038-06-20      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                                   | Boeing Co.                                                                             | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1647000 | PA      | $1820702.77   | 0.25%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31396JLG8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3829 | PA      | $3344.41      | 0.00%             | 2036-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPSOL E&P CAP MARKETS                                                          | Repsol E&P Capital Markets U.S. LLC                                                    | CUSIP: 76026AAC1<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |   1373000 | PA      | $1397973.52   | 0.19%             | 2035-09-16      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| General Motors Co                                                               | General Motors Co.                                                                     | CUSIP: 37045VAF7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    299000 | PA      | $304062.36    | 0.04%             | 2043-10-02      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 3136AGGA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     79996 | PA      | $60819.75     | 0.01%             | 2043-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31393XRE9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5951 | PA      | $6442.69      | 0.00%             | 2034-04-25      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 31403DES4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5388 | PA      | $5546.23      | 0.00%             | 2036-01-01      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Principal Only STRIPS                 | CUSIP: 38376CXX2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4899 | PA      | $4102.65      | 0.00%             | 2037-11-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                                               | Sierra Timeshare Receivables Funding LLC                                               | CUSIP: 82653HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    621617 | PA      | $627084.51    | 0.09%             | 2044-04-20      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0426A6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  13931000 | PA      | $13511089.71  | 1.86%             | 2055-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                        | Western Midstream Operating LP                                                         | CUSIP: 958667AE7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    923000 | PA      | $975076.09    | 0.13%             | 2033-04-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                 | CVS Health Corp.                                                                       | CUSIP: 126650EE6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1001000 | PA      | $1015527.42   | 0.14%             | 2044-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CDJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2544000 | PA      | $2201951.26   | 0.30%             | 2031-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| BXG Receivables Note Trust                                                      | BXG Receivables Note Trust                                                             | CUSIP: 123919AA0<br>LEI: 549300MVRSYZ837KPY83 | Long             | ABS-O            | CORP              | US        |    541533 | PA      | $551826.74    | 0.08%             | 2038-11-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION INSURC INC                                                        | Constellation Insurance, Inc.                                                          | CUSIP: 67740QAH9<br>LEI: 549300K609B872PZT291 | Long             | DBT              | CORP              | US        |   1614000 | PA      | $1626310.87   | 0.22%             | 2030-01-24      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                         | GSR Mortgage Loan Trust                                                                | CUSIP: 362341NB1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | ABS-MBS          | CORP              | US        |     14025 | PA      | $14032.41     | 0.00%             | 2035-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                                                                 | Federal National Mortgage Association Interest, Principal Only STRIPS                  | CUSIP: 3136FAQR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8829 | PA      | $8160.01      | 0.00%             | 2032-08-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128QGMA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7568 | PA      | $7734.12      | 0.00%             | 2037-02-01      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                             | New Residential Mortgage Loan Trust                                                    | CUSIP: 64828MAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    264753 | PA      | $256437.88    | 0.04%             | 2057-04-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 912828Z94<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2300500 | PA      | $2097858.30   | 0.29%             | 2030-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                                         | Royal Caribbean Cruises Ltd.                                                           | CUSIP: 78017TAB9<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1137000 | PA      | $1143630.65   | 0.16%             | 2036-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140HJHS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    155338 | PA      | $149248.01    | 0.02%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONCORD MINUTEMEN CAP CO                                                        | Concord Minutemen Capital Co. LLC                                                      | CUSIP: 20632KYK9<br>LEI: 549300B4YYZ4SNU1JB49 | Long             | STIV             | CORP              | US        |   7000000 | PA      | $6959360.80   | 0.96%             | 2025-11-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 31418AHB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    258208 | PA      | $251766.45    | 0.03%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DTE Electric Co                                                                 | DTE Electric Co.                                                                       | CUSIP: 23338VAD8<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |   1918000 | PA      | $1653102.81   | 0.23%             | 2044-07-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                                          | GE HealthCare Technologies, Inc.                                                       | CUSIP: 36266GAC1<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    664000 | PA      | $688292.84    | 0.09%             | 2035-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                              | Alternative Loan Trust                                                                 | CUSIP: 12667GWT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     58034 | PA      | $49651.14     | 0.01%             | 2035-08-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                         | GSR Mortgage Loan Trust                                                                | CUSIP: 36228F2K1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | ABS-MBS          | CORP              | US        |      9393 | PA      | $9536.26      | 0.00%             | 2034-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                                    | Synopsys, Inc.                                                                         | CUSIP: 871607AG2<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    488000 | PA      | $492504.64    | 0.07%             | 2055-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                                         | Colombia Government International Bonds                                                | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    535000 | PA      | $560412.50    | 0.08%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31392KPH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21981 | PA      | $23241.34     | 0.00%             | 2032-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31392F6E2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1368 | PA      | $1412.67      | 0.00%             | 2032-12-25      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CFM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4227300 | PA      | $4268086.85   | 0.59%             | 2027-09-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31398LQT8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11446 | PA      | $9558.29      | 0.00%             | 2037-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375BYE6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       818 | PA      | $819.09       | 0.00%             | 2062-09-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                                      | Fiserv, Inc.                                                                           | CUSIP: 337738BD9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    949000 | PA      | $975651.56    | 0.13%             | 2028-03-02      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31396YTG7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4720 | PA      | $368.50       | 0.00%             | 2038-03-25      | Floating      | 1.73%                 | No            |                  2 | On Loan: No      |
| SCF Equipment Trust Llc                                                         | SCF Equipment Trust LLC                                                                | CUSIP: 78437DAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    820000 | PA      | $839243.43    | 0.12%             | 2033-11-21      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                          | Sequoia Mortgage Trust                                                                 | CUSIP: 81744FDJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     61537 | PA      | $53993.07     | 0.01%             | 2034-09-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140XKTV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1901565 | PA      | $1896840.67   | 0.26%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                              | Alternative Loan Trust                                                                 | CUSIP: 12668APD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16454 | PA      | $12597.42     | 0.00%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                                        | Corebridge Financial, Inc.                                                             | CUSIP: 21871XAS8<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    635000 | PA      | $667939.17    | 0.09%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARROW ELECTRONICS INC                                                           | Arrow Electronics, Inc.                                                                | CUSIP: 04273WAE1<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |    553000 | PA      | $579574.16    | 0.08%             | 2034-04-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                                                           | United Parcel Service, Inc.                                                            | CUSIP: 911312CJ3<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    686000 | PA      | $709836.92    | 0.10%             | 2035-05-14      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810SD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2985600 | PA      | $2244798.00   | 0.31%             | 2048-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VICTORY RECEIVABLES CORP                                                        | Victory Receivables Corp.                                                              | CUSIP: 92646KXU1<br>LEI: 549300D0F37QF0LP7F94 | Long             | STIV             | CORP              | US        |   4000000 | PA      | $3987017.60   | 0.55%             | 2025-10-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgages Trust                                           | MASTR Adjustable Rate Mortgages Trust                                                  | CUSIP: 576433UE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7144 | PA      | $7033.21      | 0.00%             | 2034-04-21      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                                              | RGA Global Funding                                                                     | CUSIP: 76209PAF0<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |   1669000 | PA      | $1701846.09   | 0.23%             | 2031-12-06      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31396LT26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1110 | PA      | $1242.96      | 0.00%             | 2036-12-25      | Floating      | 8.68%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                   | Citigroup, Inc.                                                                        | CUSIP: 17327CAR4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    529000 | PA      | $562863.14    | 0.08%             | 2034-05-25      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L                                                        | RenaissanceRe Holdings Ltd.                                                            | CUSIP: 75968NAG6<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |    256000 | PA      | $268422.34    | 0.04%             | 2035-04-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140XKP38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2191524 | PA      | $2223436.04   | 0.31%             | 2053-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3138WU4E0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    140437 | PA      | $137371.54    | 0.02%             | 2033-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31395DUD9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9222 | PA      | $8013.73      | 0.00%             | 2036-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                                                        | Volkswagen Group of America Finance LLC                                                | CUSIP: 928668CX8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   1081000 | PA      | $1085510.23   | 0.15%             | 2030-09-11      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UA4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1412000 | PA      | $1387290.00   | 0.19%             | 2054-05-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140XPDG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2357445 | PA      | $2345815.34   | 0.32%             | 2054-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                             | JPMorgan Chase & Co.                                                                   | CUSIP: 46647PEH5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    510000 | PA      | $543347.40    | 0.07%             | 2035-04-22      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                                        | Avolon Holdings Funding Ltd.                                                           | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1650000 | PA      | $1714110.78   | 0.24%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                  | Morgan Stanley                                                                         | CUSIP: 61747YFL4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    683000 | PA      | $711374.73    | 0.10%             | 2035-01-18      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 3133TPGX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7291 | PA      | $7579.05      | 0.00%             | 2030-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375BE73<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        13 | PA      | $11.44        | 0.00%             | 2063-01-20      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1073000 | PA      | $886230.94    | 0.12%             | 2053-05-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810SY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5213000 | PA      | $3862303.57   | 0.53%             | 2041-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                              | Energy Transfer LP                                                                     | CUSIP: 29273RAT6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    676000 | PA      | $613628.11    | 0.08%             | 2043-02-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                              | Countrywide Alternative Loan Trust, Interest Only STRIPS                               | CUSIP: 12667GGP2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    303156 | PA      | $21660.83     | 0.00%             | 2035-06-25      | Floating      | 0.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38374L3B5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     36276 | PA      | $3346.20      | 0.00%             | 2035-09-20      | Floating      | 2.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 31397T4Y5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     14858 | PA      | $1544.53      | 0.00%             | 2038-04-15      | Floating      | 2.31%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3132H7EG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    274790 | PA      | $264176.09    | 0.04%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 31397YVF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      9105 | PA      | $730.07       | 0.00%             | 2039-02-15      | Floating      | 1.51%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                                                           | Keysight Technologies, Inc.                                                            | CUSIP: 49338LAG8<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    450000 | PA      | $452847.29    | 0.06%             | 2034-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3132H7BV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    264818 | PA      | $250259.11    | 0.03%             | 2043-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                              | Energy Transfer LP                                                                     | CUSIP: 29273RAZ2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    624000 | PA      | $616095.44    | 0.08%             | 2043-10-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PHH Alternative Mortgage Trust                                                  | PHH Alternative Mortgage Trust, Interest Only STRIPS                                   | CUSIP: 69337HAX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     42803 | PA      | $7751.16      | 0.00%             | 2037-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                       | Towd Point Mortgage Trust                                                              | CUSIP: 89176EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    412146 | PA      | $408403.99    | 0.06%             | 2058-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                                             | General Electric Co.                                                                   | CUSIP: 369604BZ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    894000 | PA      | $899310.68    | 0.12%             | 2030-07-29      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38374XAF2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9775 | PA      | $611.83       | 0.00%             | 2039-03-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                                                    | Hilton Grand Vacations Trust                                                           | CUSIP: 43283YAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    202113 | PA      | $205390.57    | 0.03%             | 2039-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 31349UFK9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7030 | PA      | $7222.77      | 0.00%             | 2034-09-01      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 31397KTW1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    139617 | PA      | $12610.13     | 0.00%             | 2037-10-15      | Floating      | 1.88%                 | No            |                  2 | On Loan: No      |
| LIBERTY STREET FDG LLC                                                          | Liberty Street Funding LLC                                                             | CUSIP: 53127TZ22<br>LEI: 549300F33VRHM10B9391 | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2978548.50   | 0.41%             | 2025-12-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                                         | Oncor Electric Delivery Co. LLC                                                        | CUSIP: 68233JAS3<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69067.00     | 0.01%             | 2042-06-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                                          | CHL Mortgage Pass-Through Trust                                                        | CUSIP: 12669FNP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4751 | PA      | $4563.61      | 0.00%             | 2034-05-20      | Variable      | 5.19%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                          | Pacific Gas & Electric Co.                                                             | CUSIP: 694308HA8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    129000 | PA      | $98156.41     | 0.01%             | 2042-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities                                  | Credit Suisse First Boston Mortgage Securities Corp.                                   | CUSIP: 22541QPB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4812 | PA      | $4813.49      | 0.00%             | 2033-09-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0406A0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  14521000 | PA      | $13684045.28  | 1.88%             | 2055-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38374JBS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5120 | PA      | $5670.29      | 0.00%             | 2034-09-20      | Floating      | 8.59%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                                                        | Cheniere Energy Partners LP                                                            | CUSIP: 16411QAQ4<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   1679000 | PA      | $1777385.30   | 0.24%             | 2033-06-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                                                    | Comcast Corp.                                                                          | CUSIP: 20030NDU2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    543000 | PA      | $322221.40    | 0.04%             | 2056-11-01      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31396WSA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     25207 | PA      | $3438.84      | 0.00%             | 2037-07-25      | Floating      | 2.68%                 | No            |                  2 | On Loan: No      |
| VERTO CAPITAL COMP A                                                            | Verto Capital I Compartment A                                                          | CUSIP: 92544KYJ8<br>LEI: 635400H24DGVN77S6U37 | Long             | STIV             | CORP              | US        |   5700000 | PA      | $5667391.44   | 0.78%             | 2025-11-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE SERVICE CORP                                                        | Health Care Service Corp. A Mutual Legal Reserve Co.                                   | CUSIP: 42218SAM0<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |    418000 | PA      | $410708.63    | 0.06%             | 2054-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                                                        | Canadian Pacific Railway Co.                                                           | CUSIP: 13645RBF0<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |   2112000 | PA      | $1880595.21   | 0.26%             | 2031-12-02      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| NBCUniversal Media LLC                                                          | NBCUniversal Media LLC                                                                 | CUSIP: 63946BAJ9<br>LEI: VTBDOQJ6KOGQ6K786R46 | Long             | DBT              | CORP              | US        |    667000 | PA      | $581798.33    | 0.08%             | 2043-01-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                                                 | MVW LLC                                                                                | CUSIP: 62848PAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475307 | PA      | $479813.89    | 0.07%             | 2040-10-20      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                                         | WaMu Mortgage Pass-Through Certificates Trust                                          | CUSIP: 92922FJF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20226 | PA      | $19143.59     | 0.00%             | 2033-10-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                              | Chase Mortgage Finance Trust                                                           | CUSIP: 161630AC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7099 | PA      | $7089.85      | 0.00%             | 2037-02-25      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GROUP HOLDINGS                                                        | Fortitude Group Holdings LLC                                                           | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |    502000 | PA      | $521225.90    | 0.07%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375Y5V0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      7142 | PA      | $29.12        | 0.00%             | 2039-02-16      | Floating      | 1.84%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                        | OBX Trust                                                                              | CUSIP: 67121UAA4<br>LEI: 254900FPAGVH6E25VL74 | Long             | ABS-MBS          | CORP              | US        |   2979407 | PA      | $3004701.44   | 0.41%             | 2065-05-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                 | BRAVO Residential Funding Trust                                                        | CUSIP: 10569KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385291 | PA      | $390024.23    | 0.05%             | 2064-02-25      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0306A1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  22289000 | PA      | $19574225.88  | 2.69%             | 2055-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                     | Oracle Corp.                                                                           | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    348000 | PA      | $346929.49    | 0.05%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                                              | Banco Santander SA                                                                     | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   1000000 | PA      | $1018062.46   | 0.14%             | 2028-03-14      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31396XAU8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7909 | PA      | $8327.98      | 0.00%             | 2037-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                           | Wells Fargo Commercial Mortgage Trust                                                  | CUSIP: 95000FAT3<br>LEI: 549300MZIB10PDVAE312 | Long             | ABS-MBS          | CORP              | US        |   1103000 | PA      | $1088765.56   | 0.15%             | 2048-07-15      | Fixed         | 2.93%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31392BVQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       835 | PA      | $987.19       | 0.00%             | 2032-02-25      | Floating      | 10.66%                | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                                         | Hyundai Capital America                                                                | CUSIP: 44891ADX2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1798000 | PA      | $1851167.44   | 0.25%             | 2032-06-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 3139204E7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3213 | PA      | $3343.56      | 0.00%             | 2031-09-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 31349UJY5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8421 | PA      | $8708.23      | 0.00%             | 2035-01-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0326A7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   9578000 | PA      | $8749705.96   | 1.20%             | 2055-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31394VX47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    170341 | PA      | $16454.39     | 0.00%             | 2036-03-25      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                       | Towd Point Mortgage Trust                                                              | CUSIP: 89179TAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1244127 | PA      | $1117169.08   | 0.15%             | 2060-11-30      | Variable      | 2.92%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC                                                             | Cardinal Health, Inc.                                                                  | CUSIP: 14149YBP2<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    675000 | PA      | $700667.93    | 0.10%             | 2034-02-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3113000 | PA      | $3138293.13   | 0.43%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                              | Energy Transfer LP                                                                     | CUSIP: 29273VAP5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    586000 | PA      | $603196.45    | 0.08%             | 2028-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    662000 | PA      | $651863.13    | 0.09%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31396X6G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8984 | PA      | $536.34       | 0.00%             | 2038-01-25      | Floating      | 1.22%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3132H33Q4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    298742 | PA      | $284692.24    | 0.04%             | 2043-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HEICO CORP                                                                      | HEICO Corp.                                                                            | CUSIP: 422806AB5<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | DBT              | CORP              | US        |   1138000 | PA      | $1180572.90   | 0.16%             | 2033-08-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31393CVP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8070 | PA      | $947.87       | 0.00%             | 2033-06-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| QUANTA SERVICES INC                                                             | Quanta Services, Inc.                                                                  | CUSIP: 74762EAL6<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |     57000 | PA      | $58436.51     | 0.01%             | 2034-08-09      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                                                                  | Merck & Co., Inc.                                                                      | CUSIP: 58933YBM6<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    428000 | PA      | $402176.18    | 0.06%             | 2053-05-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                     | Oracle Corp.                                                                           | CUSIP: 68389XCK9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    976000 | PA      | $1085947.00   | 0.15%             | 2052-11-09      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| SOUTHERN POWER CO                                                               | Southern Power Co.                                                                     | CUSIP: 843646AX8<br>LEI: 5LADC78JBG2BMZD5XF57 | Long             | DBT              | CORP              | US        |    543000 | PA      | $539725.71    | 0.07%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                                         | WaMu Mortgage Pass-Through Certificates Trust                                          | CUSIP: 9292274D5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3713 | PA      | $3664.02      | 0.00%             | 2033-06-25      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| MAINBEACH FUNDING LLC                                                           | Mainbeach Funding LLC                                                                  | CUSIP: 56037BZ23<br>LEI: 635400CWJW29VERCBI90 | Long             | STIV             | CORP              | IE        |    410000 | PA      | $407040.29    | 0.06%             | 2025-12-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Principal Only STRIPS                 | CUSIP: 38375PCK5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4931 | PA      | $3995.80      | 0.00%             | 2038-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Credit-Based Asset Servicing and Securitization                                 | Securitized Asset-Backed Receivables LLC Trust                                         | CUSIP: 81375WHH2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | ABS-O            | CORP              | US        |     12201 | PA      | $10483.77     | 0.00%             | 2036-01-25      | Variable      | 2.82%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                                               | Sierra Timeshare Receivables Funding LLC                                               | CUSIP: 82653CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    697244 | PA      | $704586.98    | 0.10%             | 2042-01-21      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                            | Bank of America Corp.                                                                  | CUSIP: 06051GMW6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1961000 | PA      | $2044429.18   | 0.28%             | 2036-05-09      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                        | Vistra Operations Co. LLC                                                              | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1011000 | PA      | $1057381.41   | 0.15%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31395NBC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     25649 | PA      | $22521.84     | 0.00%             | 2033-12-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SHEFFIELD RECEIVABLES                                                           | Sheffield Receivables Co. LLC                                                          | CUSIP: 82124LYK2<br>LEI: 549300MYF6MOTU9T3G29 | Long             | STIV             | CORP              | US        |   1500000 | PA      | $1491381.90   | 0.21%             | 2025-11-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375BWP3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3638 | PA      | $3613.89      | 0.00%             | 2060-03-20      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                                                      | Intuit, Inc.                                                                           | CUSIP: 46124HAH9<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |    418000 | PA      | $421047.02    | 0.06%             | 2053-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 31418AS33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    156030 | PA      | $146886.00    | 0.02%             | 2043-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128DHG99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     28822 | PA      | $29395.84     | 0.00%             | 2034-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31396UFA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1765 | PA      | $1536.22      | 0.00%             | 2036-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375BXB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       457 | PA      | $454.44       | 0.00%             | 2060-04-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| MONT BLANC CAPITAL CORP                                                         | Mont Blanc Capital Corp.                                                               | CUSIP: 6117P4XF2<br>LEI: 549300NC8BUDZTUFIQ67 | Long             | STIV             | CORP              | US        |   2900000 | PA      | $2894996.92   | 0.40%             | 2025-10-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                       | Towd Point Mortgage Trust                                                              | CUSIP: 89170VAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    545554 | PA      | $523569.26    | 0.07%             | 2062-07-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CFH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5265000 | PA      | $5216257.63   | 0.72%             | 2027-08-31      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31396KYA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2626 | PA      | $2609.83      | 0.00%             | 2036-08-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Impac Secured Assets Corp.                                                      | Impac Secured Assets Trust                                                             | CUSIP: 45254TTN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9582 | PA      | $8955.44      | 0.00%             | 2036-05-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                                                               | Expedia Group, Inc.                                                                    | CUSIP: 30212PBL8<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1375126.55   | 0.19%             | 2035-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                            | FREMF Mortgage Trust                                                                   | CUSIP: 30307MAS7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    900000 | PA      | $857310.30    | 0.12%             | 2028-04-25      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31394HVK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1626 | PA      | $1787.07      | 0.00%             | 2033-09-15      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| GXO LOGISTICS INC                                                               | GXO Logistics, Inc.                                                                    | CUSIP: 36262GAG6<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |    639000 | PA      | $687023.97    | 0.09%             | 2034-05-06      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7834000 | PA      | $7860929.38   | 1.08%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                                               | Sierra Timeshare Receivables Funding LLC                                               | CUSIP: 826943AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    553042 | PA      | $558319.93    | 0.08%             | 2040-01-20      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                                                             | Gilead Sciences, Inc.                                                                  | CUSIP: 375558CC5<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |   1089000 | PA      | $1118845.25   | 0.15%             | 2035-06-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS                                    | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Interest Only STRIPS | CUSIP: 9393365L3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     57922 | PA      | $8954.28      | 0.00%             | 2035-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MANHATTAN ASSET FDG CO                                                          | Manhattan Asset Funding Co. LLC                                                        | CUSIP: 56274LZB3<br>LEI: 549300S0NSJYSOB32S63 | Long             | STIV             | CORP              | US        |   2700000 | PA      | $2677935.60   | 0.37%             | 2025-12-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                                                             | Ashtead Capital, Inc.                                                                  | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1137000 | PA      | $1172752.50   | 0.16%             | 2033-05-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                                                    | Centene Corp.                                                                          | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    778000 | PA      | $715516.44    | 0.10%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| VULCAN MATERIALS CO                                                             | Vulcan Materials Co.                                                                   | CUSIP: 929160BC2<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    830000 | PA      | $856166.08    | 0.12%             | 2034-12-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Adjustable Rate Mortgage Trust                                     | Bear Stearns ARM Trust                                                                 | CUSIP: 07387AGZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10037 | PA      | $9672.75      | 0.00%             | 2036-02-25      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| ALCON FINANCE CORP                                                              | Alcon Finance Corp.                                                                    | CUSIP: 01400EAF0<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |    724000 | PA      | $744666.02    | 0.10%             | 2052-12-06      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Bayer US Finance II LLC                                                         | Bayer U.S. Finance II LLC                                                              | CUSIP: 07274NAL7<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |   1062000 | PA      | $1058214.31   | 0.15%             | 2028-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fixed Income Clearing Corp                                                      | FIXED INC CLEARING CORP.REPO                                                           | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   9747159 | PA      | $9747158.78   | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                | BAT Capital Corp.                                                                      | CUSIP: 054989AF5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1009362.75   | 0.14%             | 2033-03-22      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31395FEZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1078 | PA      | $967.04       | 0.00%             | 2032-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Accelerated Assets                                                              | Accelerated LLC                                                                        | CUSIP: 00439KAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     59004 | PA      | $55085.16     | 0.01%             | 2040-10-20      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                                                    | Hilton Grand Vacations Trust                                                           | CUSIP: 43283JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    204997 | PA      | $209062.45    | 0.03%             | 2038-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38373MA91<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9586 | PA      | $10525.06     | 0.00%             | 2037-04-20      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                                                    | Hudson Yards Mortgage Trust                                                            | CUSIP: 44855PAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    820000 | PA      | $847385.70    | 0.12%             | 2040-01-13      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                                           | Uber Technologies, Inc.                                                                | CUSIP: 90353TAP5<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    520000 | PA      | $520976.04    | 0.07%             | 2034-09-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                              | Chase Mortgage Finance Trust                                                           | CUSIP: 16163LAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6264 | PA      | $6235.13      | 0.00%             | 2035-06-25      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                                         | GSR Mortgage Loan Trust                                                                | CUSIP: 36242DCH4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | ABS-MBS          | CORP              | US        |      4602 | PA      | $4729.46      | 0.00%             | 2034-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                       | Towd Point Mortgage Trust                                                              | CUSIP: 89179JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2768006 | PA      | $2521653.09   | 0.35%             | 2060-10-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3138WCQR7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    167168 | PA      | $161100.35    | 0.02%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                              | Dominican Republic International Bonds                                                 | CUSIP: 25714PEZ7<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    857000 | PA      | $896850.50    | 0.12%             | 2036-06-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31396XC69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9157 | PA      | $9251.95      | 0.00%             | 2036-06-27      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31393YT96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2237 | PA      | $2391.68      | 0.00%             | 2034-05-25      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                                           | Aon North America, Inc.                                                                | CUSIP: 03740MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    787000 | PA      | $819821.24    | 0.11%             | 2034-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                  | Morgan Stanley                                                                         | CUSIP: 61747YFQ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2640000 | PA      | $2756726.44   | 0.38%             | 2030-04-18      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                                               | Sierra Timeshare Receivables Funding LLC                                               | CUSIP: 826944AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    218373 | PA      | $225134.42    | 0.03%             | 2040-09-20      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38374TXN9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4311 | PA      | $93.81        | 0.00%             | 2039-03-20      | Floating      | 2.05%                 | No            |                  2 | On Loan: No      |
| COLUMBIA FUNDING CO                                                             | Columbia Funding Co. LLC                                                               | CUSIP: 19767CYH3<br>LEI: 549300O1V8MCLCRCFD82 | Long             | STIV             | CORP              | US        |   7000000 | PA      | $6961397.10   | 0.96%             | 2025-11-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 912828YB0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1032200 | PA      | $957647.74    | 0.13%             | 2029-08-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 3133TNDG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     25099 | PA      | $26187.60     | 0.00%             | 2030-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Manhattan West                                                                  | Manhattan West Mortgage Trust                                                          | CUSIP: 563136AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $571856.10    | 0.08%             | 2039-09-10      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                          | Sequoia Mortgage Trust                                                                 | CUSIP: 81743PAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20591 | PA      | $19381.12     | 0.00%             | 2033-04-20      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31393EKS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17390 | PA      | $16403.59     | 0.00%             | 2033-08-25      | Floating      | 1.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31394V7G9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6336 | PA      | $7523.84      | 0.00%             | 2036-03-25      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 31408EN81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6503 | PA      | $6492.86      | 0.00%             | 2036-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                                    | Enbridge, Inc.                                                                         | CUSIP: 29250NCJ2<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    929000 | PA      | $950029.99    | 0.13%             | 2030-06-20      | Fixed         | 4.90%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375JMV4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     18993 | PA      | $1290.92      | 0.00%             | 2037-03-20      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                                        | Capital One Financial Corp.                                                            | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    329000 | PA      | $341289.83    | 0.05%             | 2036-01-30      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                        | Occidental Petroleum Corp.                                                             | CUSIP: 674599EJ0<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    572000 | PA      | $580407.26    | 0.08%             | 2029-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Corporation                                             | Banc of America Funding Trust, Principal Only STRIPS                                   | CUSIP: 05946X3C5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1671 | PA      | $1097.14      | 0.00%             | 2036-01-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31396KAA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3826 | PA      | $3297.99      | 0.00%             | 2036-07-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                                   | Carnival Corp.                                                                         | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1130000 | PA      | $1158290.68   | 0.16%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                                               | Sierra Timeshare Receivables Funding LLC                                               | CUSIP: 826935AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    438156 | PA      | $442552.71    | 0.06%             | 2043-01-20      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BEDFORD ROW FUNDING CORP                                                        | Bedford Row Funding Corp.                                                              | CUSIP: 07644AY73<br>LEI: 5493000JWH1Z48FX0180 | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2986849.80   | 0.41%             | 2025-11-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 3133TQKD8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      6895 | PA      | $7187.79      | 0.00%             | 2030-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                                          | UnitedHealth Group, Inc.                                                               | CUSIP: 91324PFJ6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    797000 | PA      | $818006.40    | 0.11%             | 2034-07-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO                                                            | Diameter Capital CLO 1 Ltd.                                                            | CUSIP: 25255DAL4<br>LEI: 25490018I1ROE4V49X69 | Long             | ABS-CBDO         | CORP              | KY        |   1900000 | PA      | $1905090.10   | 0.26%             | 2037-10-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Chase Funding Mortgage Loan Asset-Backed CTFS                                   | Chase Funding Trust                                                                    | CUSIP: 161546HC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11286 | PA      | $11190.10     | 0.00%             | 2034-11-25      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INC                                                                    | QUALCOMM, Inc.                                                                         | CUSIP: 747525BJ1<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    752000 | PA      | $531615.37    | 0.07%             | 2050-05-20      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31393FKF2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8207 | PA      | $8560.57      | 0.00%             | 2032-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Corporation                                             | Banc of America Funding Trust, Principal Only STRIPS                                   | CUSIP: 05946XGF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5168 | PA      | $3672.78      | 0.00%             | 2034-03-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                       | Towd Point Mortgage Trust                                                              | CUSIP: 89178BAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200482 | PA      | $1153644.31   | 0.16%             | 2059-10-25      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                                                | Hewlett Packard Enterprise Co.                                                         | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |   1378000 | PA      | $1367285.31   | 0.19%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corp                                                                 | CMS Energy Corp.                                                                       | CUSIP: 125896BR0<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    149000 | PA      | $146219.64    | 0.02%             | 2027-02-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31396WCQ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12914 | PA      | $1067.43      | 0.00%             | 2037-06-25      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31396YCX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21284 | PA      | $1741.27      | 0.00%             | 2038-02-25      | Floating      | 1.44%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch Large Loan Inc                                    | BAMLL Commercial Mortgage Securities Trust                                             | CUSIP: 05525MAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $139237.66    | 0.02%             | 2046-08-15      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3131Y1WR7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    315650 | PA      | $311731.77    | 0.04%             | 2048-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128QSZW9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15739 | PA      | $16227.78     | 0.00%             | 2036-06-01      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128Q3NB3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3396 | PA      | $3506.24      | 0.00%             | 2036-05-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| MUNICH RE                                                                       | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen                              | CUSIP: 62582PAA8<br>LEI: 529900MUF4C20K50JS49 | Long             | DBT              | CORP              | DE        |   1000000 | PA      | $1043357.62   | 0.14%             | 2042-05-23      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                                          | CHL Mortgage Pass-Through Trust                                                        | CUSIP: 126694LU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40779 | PA      | $33682.60     | 0.00%             | 2035-11-25      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                                          | Extra Space Storage LP                                                                 | CUSIP: 30225VAU1<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |   1450000 | PA      | $1481277.53   | 0.20%             | 2035-06-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CADENCE DESIGN SYS INC                                                          | Cadence Design Systems, Inc.                                                           | CUSIP: 127387AP3<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | DBT              | CORP              | US        |    671000 | PA      | $669916.07    | 0.09%             | 2034-09-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Structured Asset Mortgage Investments Inc                                       | Structured Asset Mortgage Investments II Trust                                         | CUSIP: 86359LDX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7500 | PA      | $7220.99      | 0.00%             | 2034-10-19      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| SHELL FINANCE US INC                                                            | Shell Finance U.S., Inc.                                                               | CUSIP: 822905AH8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    789000 | PA      | $626428.36    | 0.09%             | 2046-09-12      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31396N7B6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4684 | PA      | $4104.14      | 0.00%             | 2036-04-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                                          | Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC                   | CUSIP: 01309QAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     88000 | PA      | $89997.60     | 0.01%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1832600 | PA      | $1136713.11   | 0.16%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                                                     | Nutrien Ltd.                                                                           | CUSIP: 67077MBA5<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    667000 | PA      | $678553.15    | 0.09%             | 2028-03-27      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Intel Corp                                                                      | Intel Corp.                                                                            | CUSIP: 458140AK6<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $951892.43    | 0.13%             | 2041-10-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                       | Towd Point Mortgage Trust                                                              | CUSIP: 89175TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1372954 | PA      | $1304674.00   | 0.18%             | 2058-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                                          | NXP BV/NXP Funding LLC/NXP USA, Inc.                                                   | CUSIP: 62954HAN8<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    704000 | PA      | $472228.25    | 0.06%             | 2051-11-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANK PLC                                                                 | Lloyds Bank PLC                                                                        | CUSIP: 53943RZC6<br>LEI: H7FNTJ4851HG0EXQ1Z70 | Long             | STIV             | CORP              | GB        |   5700000 | PA      | $5653142.58   | 0.78%             | 2025-12-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                | T-Mobile USA, Inc.                                                                     | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1096000 | PA      | $1042555.23   | 0.14%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1529200 | PA      | $1118466.44   | 0.15%             | 2052-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810RE0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    633100 | PA      | $549535.74    | 0.08%             | 2044-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                 | Bravo Residential Funding Trust                                                        | CUSIP: 10569MAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    510816 | PA      | $515231.57    | 0.07%             | 2064-12-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 31397PFM7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18326 | PA      | $1503.81      | 0.00%             | 2037-11-15      | Floating      | 1.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 31300LLL7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13806 | PA      | $14190.43     | 0.00%             | 2036-02-01      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                                               | Brown & Brown, Inc.                                                                    | CUSIP: 115236AL5<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    372000 | PA      | $381418.69    | 0.05%             | 2032-06-23      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31398LZP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7078 | PA      | $6184.68      | 0.00%             | 2040-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SITIOS LATINOAMERICA                                                            | Sitios Latinoamerica SAB de CV                                                         | CUSIP: 82983PAA1<br>LEI: 984500D2C0CDC0BFDD35 | Long             | DBT              | CORP              | MX        |    442000 | PA      | $459370.60    | 0.06%             | 2029-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                                         | Starwood Property Trust, Inc.                                                          | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    284000 | PA      | $288316.52    | 0.04%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 9128286A3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9510000 | PA      | $9467743.65   | 1.30%             | 2026-01-31      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                        | JPMorgan Mortgage Trust                                                                | CUSIP: 466247K93<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2554 | PA      | $2526.87      | 0.00%             | 2033-11-25      | Variable      | 6.71%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140QRW66<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2286488 | PA      | $2285805.11   | 0.31%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3138ENZ93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    256558 | PA      | $242152.58    | 0.03%             | 2044-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375JJ55<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     14273 | PA      | $411.97       | 0.00%             | 2037-05-20      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| FannieMae Whole Loan                                                            | Federal National Mortgage Association REMICS                                           | CUSIP: 31393AP68<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      8125 | PA      | $8218.46      | 0.00%             | 2042-10-25      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    382000 | PA      | $367809.30    | 0.05%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                             | JPMorgan Chase & Co.                                                                   | CUSIP: 46647PDX1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    555000 | PA      | $585677.53    | 0.08%             | 2029-10-23      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| ICG US CLO Ltd                                                                  | ICG U.S. CLO Ltd.                                                                      | CUSIP: 44928XAY0<br>LEI: 25490053S2JSJU63Y978 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1501692.00   | 0.21%             | 2034-10-20      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| FHLMC Structured Pass Through Securities                                        | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates                  | CUSIP: 31395HHV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     57231 | PA      | $52534.23     | 0.01%             | 2044-10-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Nomura Asset Acceptance Corporation                                             | Nomura Asset Acceptance Corp. Alternative Loan Trust                                   | CUSIP: 65535VAX6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9629 | PA      | $9701.21      | 0.00%             | 2033-04-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                                        | Hess Midstream Operations LP                                                           | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    828000 | PA      | $853945.38    | 0.12%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3132DWGZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    612415 | PA      | $619908.47    | 0.09%             | 2053-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                                                | NTT Finance Corp.                                                                      | CUSIP: 62954WAQ8<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    890000 | PA      | $898800.43    | 0.12%             | 2028-07-16      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| QUANTA SERVICES INC                                                             | Quanta Services, Inc.                                                                  | CUSIP: 74762EAF9<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |   1229000 | PA      | $1147326.88   | 0.16%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                                          | Canadian Imperial Bank of Commerce                                                     | CUSIP: 13607PVQ4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    848000 | PA      | $875642.20    | 0.12%             | 2031-01-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                                          | CHL Mortgage Pass-Through Trust                                                        | CUSIP: 12669FXJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6163 | PA      | $5697.27      | 0.00%             | 2034-06-25      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| HERO Funding Trust                                                              | HERO Funding Trust                                                                     | CUSIP: 42771AAB2<br>LEI: 549300Z5C0ID42MSJA91 | Long             | ABS-O            | CORP              | KY        |    164758 | PA      | $154830.11    | 0.02%             | 2048-09-20      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                                               | Healthpeak OP LLC                                                                      | CUSIP: 42250GAB9<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              |  | US        |   1672000 | PA      | $1661182.28   | 0.23%             | 2033-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                                        | Prudential Financial, Inc.                                                             | CUSIP: 744320BH4<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   1323000 | PA      | $1235798.56   | 0.17%             | 2050-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 3136AGZH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     91909 | PA      | $69380.98     | 0.01%             | 2043-10-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CHE4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1286000 | PA      | $1286200.94   | 0.18%             | 2028-05-31      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                                       | Sunoco LP                                                                              | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    229000 | PA      | $227310.66    | 0.03%             | 2031-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                 | BRAVO Residential Funding Trust                                                        | CUSIP: 10570MAC4<br>LEI: 254900U9H6FFPW4O4S55 | Long             | ABS-MBS          | CORP              | US        |   4795775 | PA      | $4822339.74   | 0.66%             | 2065-06-25      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810SF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2668000 | PA      | $1997665.00   | 0.27%             | 2049-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                          | Sequoia Mortgage Trust                                                                 | CUSIP: 81744FDV6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     33963 | PA      | $31247.37     | 0.00%             | 2034-10-20      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810RZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1178600 | PA      | $851860.78    | 0.12%             | 2047-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375QKS7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34314 | PA      | $1654.75      | 0.00%             | 2038-05-16      | Floating      | 2.14%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                                            | Glencore Funding LLC                                                                   | CUSIP: 378272BG2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   1138000 | PA      | $1022004.51   | 0.14%             | 2031-09-23      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31394KZD9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11108 | PA      | $11799.69     | 0.00%             | 2033-07-15      | Floating      | 4.31%                 | No            |                  2 | On Loan: No      |
| FHLMC Structured Pass Through Securities                                        | Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates                  | CUSIP: 31393LFM0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     25030 | PA      | $26094.51     | 0.00%             | 2043-02-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                                             | American Express Co.                                                                   | CUSIP: 025816DU0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1063000 | PA      | $1110759.28   | 0.15%             | 2030-04-25      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31398PKD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5374 | PA      | $347.87       | 0.00%             | 2040-04-25      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| COPT DEFENSE PROP LP                                                            | COPT Defense Properties LP                                                             | CUSIP: 22003BAP1<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              |  | US        |    847000 | PA      | $716764.98    | 0.10%             | 2033-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31396HVU0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2843 | PA      | $2495.48      | 0.00%             | 2036-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31396HVT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2208 | PA      | $1958.53      | 0.00%             | 2036-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                                            | M&T Bank Corp.                                                                         | CUSIP: 55261FAY0<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1194000 | PA      | $1222783.10   | 0.17%             | 2031-07-08      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 31397WHQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     79718 | PA      | $8970.71      | 0.00%             | 2038-06-15      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31392MQP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      9586 | PA      | $10046.44     | 0.00%             | 2032-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                                                    | ADT Security Corp.                                                                     | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |    821000 | PA      | $793920.22    | 0.11%             | 2029-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31396HUN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5121 | PA      | $4570.45      | 0.00%             | 2036-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CITADEL LP                                                                      | Citadel LP                                                                             | CUSIP: 17288XAD6<br>LEI: 549300IPM6EKPVUPFL67 | Long             | DBT              | CORP              | US        |    289000 | PA      | $300381.28    | 0.04%             | 2030-01-23      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31396YXZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2434 | PA      | $2397.33      | 0.00%             | 2038-03-25      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 3137AQUB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     51601 | PA      | $51374.39     | 0.01%             | 2041-10-15      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                                              | VICI Properties LP                                                                     | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |   1101000 | PA      | $1113770.22   | 0.15%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140FXQS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    597332 | PA      | $541533.03    | 0.07%             | 2060-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31393X5V5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15576 | PA      | $17265.90     | 0.00%             | 2034-05-25      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| CONCORD MINUTEMEN CAP CO                                                        | Concord Minutemen Capital Co. LLC                                                      | CUSIP: 20632KZ36<br>LEI: 549300B4YYZ4SNU1JB49 | Long             | STIV             | CORP              | US        |   7000000 | PA      | $6948438.70   | 0.96%             | 2025-12-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CSL FINANCE PLC                                                                 | CSL Finance PLC                                                                        | CUSIP: 12661PAD1<br>LEI: 2549007CCNBNAF4HBC02 | Long             | DBT              | CORP              | GB        |    650000 | PA      | $592915.91    | 0.08%             | 2042-04-27      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375KHZ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13720 | PA      | $166.30       | 0.00%             | 2037-06-16      | Floating      | 2.21%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                                            | M&T Bank Corp.                                                                         | CUSIP: 55261FAV6<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    392000 | PA      | $397408.56    | 0.05%             | 2036-01-16      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 31416CFY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2989 | PA      | $3113.23      | 0.00%             | 2037-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Structured Asset Mortgage Investments Inc                                       | Structured Asset Mortgage Investments II Trust                                         | CUSIP: 86359LPF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     24784 | PA      | $24385.57     | 0.00%             | 2035-07-19      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                 | CVS Health Corp.                                                                       | CUSIP: 126650EK2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1319000 | PA      | $1342217.47   | 0.18%             | 2035-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                                | COLT Mortgage Loan Trust                                                               | CUSIP: 12665LAA2<br>LEI: 213800Z2Q6LED8DB8K38 | Long             | ABS-MBS          | CORP              | US        |    865688 | PA      | $875126.17    | 0.12%             | 2069-04-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| BARTON CAPITAL SA                                                               | Barton Capital SA                                                                      | CUSIP: 06945LYK8<br>LEI: 549300KOFKIMD0C37W24 | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2982763.80   | 0.41%             | 2025-11-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                                           | Mexico Government International Bonds                                                  | CUSIP: 91087BAE0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1053000 | PA      | $1041153.75   | 0.14%             | 2028-01-11      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 313921M70<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22713 | PA      | $23584.46     | 0.00%             | 2031-11-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31396K4K5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1879 | PA      | $2337.53      | 0.00%             | 2036-10-25      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                                                     | Viatris, Inc.                                                                          | CUSIP: 92556VAC0<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |    572000 | PA      | $550610.22    | 0.08%             | 2027-06-22      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0606A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  13156000 | PA      | $13440007.39  | 1.85%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                                                        | Anheuser-Busch InBev Worldwide, Inc.                                                   | CUSIP: 03523TBT4<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   1083000 | PA      | $941169.35    | 0.13%             | 2048-10-06      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                                                                | Federal Home Loan Mortgage Corp., Interest Only STRIPS                                 | CUSIP: 31282YDY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11504 | PA      | $1669.26      | 0.00%             | 2035-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38374L4C2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2409 | PA      | $2638.19      | 0.00%             | 2035-06-17      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                                                               | Hyatt Hotels Corp.                                                                     | CUSIP: 448579AR3<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    863000 | PA      | $885106.63    | 0.12%             | 2029-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN POWER CO                                                               | Southern Power Co.                                                                     | CUSIP: 843646AY6<br>LEI: 5LADC78JBG2BMZD5XF57 | Long             | DBT              | CORP              | US        |    732000 | PA      | $721899.04    | 0.10%             | 2035-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                                         | WaMu Mortgage Pass-Through Certificates Trust                                          | CUSIP: 92922FNJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3192 | PA      | $3026.23      | 0.00%             | 2034-06-25      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 9128283F5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    452700 | PA      | $440109.28    | 0.06%             | 2027-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MLCC Mortgage Investors Inc                                                     | Merrill Lynch Mortgage Investors Trust                                                 | CUSIP: 589929Y36<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | ABS-MBS          | CORP              | US        |     37023 | PA      | $35225.25     | 0.00%             | 2028-10-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| KIOXIA HOLDINGS CORP                                                            | Kioxia Holdings Corp.                                                                  | CUSIP: 49726JAA6<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |   2115000 | PA      | $2157308.46   | 0.30%             | 2030-07-24      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CARLISLE COS INC                                                                | Carlisle Cos., Inc.                                                                    | CUSIP: 142339AN0<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |    457000 | PA      | $462529.72    | 0.06%             | 2035-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810FG8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    736800 | PA      | $775366.88    | 0.11%             | 2029-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                                                         | Schlumberger Holdings Corp.                                                            | CUSIP: 806851AK7<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |    971000 | PA      | $966586.79    | 0.13%             | 2028-05-17      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS                                    | Washington Mutual Mortgage Pass-Through Certificates Trust                             | CUSIP: 9393366B4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     43029 | PA      | $39647.24     | 0.01%             | 2035-06-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                                  | NRG Energy, Inc.                                                                       | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142179.94    | 0.02%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38374GDC3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9868 | PA      | $10895.82     | 0.00%             | 2034-04-16      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31397MUL9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26312 | PA      | $1916.41      | 0.00%             | 2038-09-25      | Floating      | 1.38%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                                                   | AppLovin Corp.                                                                         | CUSIP: 03831WAD0<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |   1046000 | PA      | $1079729.56   | 0.15%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                                                  | Whirlpool Corp.                                                                        | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    497000 | PA      | $500892.62    | 0.07%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                                           | Aon North America, Inc.                                                                | CUSIP: 03740MAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1034000 | PA      | $1041321.62   | 0.14%             | 2054-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                                                 | Chevron USA, Inc.                                                                      | CUSIP: 166756AS5<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    841000 | PA      | $819333.74    | 0.11%             | 2029-10-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bills                                                                    | CUSIP: 912797MS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  12000000 | PA      | $11998659.60  | 1.65%             | 2025-10-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                                                | Duke Energy Corp.                                                                      | CUSIP: 26441CCJ2<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1722000 | PA      | $1710699.29   | 0.24%             | 2035-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1655300 | PA      | $1660472.81   | 0.23%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375BZQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13798 | PA      | $13802.56     | 0.00%             | 2062-10-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                                                           | American Homes 4 Rent LP                                                               | CUSIP: 02666TAG2<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              |  | US        |   1119000 | PA      | $1154716.01   | 0.16%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                     | Oracle Corp.                                                                           | CUSIP: 68389XDP7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    905000 | PA      | $907457.07    | 0.12%             | 2045-09-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31393NTQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1175 | PA      | $1182.24      | 0.00%             | 2033-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                                                        | Greensaif Pipelines Bidco SARL                                                         | CUSIP: 39541EAD5<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    336000 | PA      | $352313.10    | 0.05%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                                                    | Hilton Grand Vacations Trust                                                           | CUSIP: 43283NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2404989 | PA      | $2428574.99   | 0.33%             | 2040-08-27      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31392PU37<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      9167 | PA      | $9377.64      | 0.00%             | 2032-07-15      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375BWA6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        54 | PA      | $53.65        | 0.00%             | 2061-05-20      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 31396UD64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5681 | PA      | $604.85       | 0.00%             | 2036-07-15      | Floating      | 2.61%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3128QS6G6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     10139 | PA      | $10310.36     | 0.00%             | 2036-11-01      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| 7-ELEVEN INC                                                                    | 7-Eleven, Inc.                                                                         | CUSIP: 817826AE0<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |   1256000 | PA      | $1091681.34   | 0.15%             | 2031-02-10      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CHK0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    720000 | PA      | $727059.38    | 0.10%             | 2028-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                               | NatWest Group PLC                                                                      | CUSIP: 639057AN8<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1509000 | PA      | $1591292.30   | 0.22%             | 2035-03-01      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140XKS76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2218487 | PA      | $2162052.16   | 0.30%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31394ULM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30010 | PA      | $28925.25     | 0.00%             | 2035-07-25      | Floating      | 2.87%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                                | UWM Holdings LLC                                                                       | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    979000 | PA      | $974337.39    | 0.13%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| KGS-Alpha SBA COOF Trust                                                        | KGS-Alpha SBA COOF Trust, Interest Only STRIPS                                         | CUSIP: 48249GAA2<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |     29014 | PA      | $1577.76      | 0.00%             | 2040-04-25      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CHQ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1653000 | PA      | $1674953.91   | 0.23%             | 2028-07-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Structured Asset Mortgage Investments Inc                                       | Structured Asset Mortgage Investments II Trust                                         | CUSIP: 86359LAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     51649 | PA      | $48647.53     | 0.01%             | 2034-03-19      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| LEXINGTON PARKER CAPITAL                                                        | Lexington Parker Capital Co. LLC                                                       | CUSIP: 52953AYM1<br>LEI: 5493005MSQJBO8BDMA02 | Long             | STIV             | CORP              | US        |   5700000 | PA      | $5666045.67   | 0.78%             | 2025-11-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BARTON CAPITAL SA                                                               | Barton Capital SA                                                                      | CUSIP: 06945LYC6<br>LEI: 549300KOFKIMD0C37W24 | Long             | STIV             | CORP              | US        |   2700000 | PA      | $2686569.93   | 0.37%             | 2025-11-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Liberty Street Funding LLC                                                      | Liberty Street Funding LLC                                                             | CUSIP: 53127TYJ6<br>LEI: 549300F33VRHM10B9391 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1988756.40   | 0.27%             | 2025-11-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                              | Countrywide Alternative Loan Trust, Interest Only STRIPS                               | CUSIP: 12667GQN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    107261 | PA      | $5562.14      | 0.00%             | 2035-07-25      | Floating      | 0.48%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP                                                                   | Allstate Corp.                                                                         | CUSIP: 020002BK6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    557000 | PA      | $577592.26    | 0.08%             | 2033-03-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                                                  | Lowe's Cos., Inc.                                                                      | CUSIP: 548661EH6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1452000 | PA      | $1388901.98   | 0.19%             | 2032-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                                        | Avis Budget Rental Car Funding AESOP LLC                                               | CUSIP: 05377RHL1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1080000 | PA      | $1109576.02   | 0.15%             | 2028-08-21      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                       | Towd Point Mortgage Trust                                                              | CUSIP: 89181JAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1029010 | PA      | $998208.87    | 0.14%             | 2063-01-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                 | BRAVO Residential Funding Trust                                                        | CUSIP: 10569LAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    672686 | PA      | $680742.00    | 0.09%             | 2064-03-25      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                                                | MGM Resorts International                                                              | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   1069000 | PA      | $1088025.42   | 0.15%             | 2029-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NNN REIT INC                                                                    | NNN REIT, Inc.                                                                         | CUSIP: 637417AU0<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              |  | US        |   1694000 | PA      | $1700321.36   | 0.23%             | 2031-02-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                                       | Boeing Co.                                                                             | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1077000 | PA      | $1075991.68   | 0.15%             | 2050-05-01      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810RS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2483800 | PA      | $1746518.89   | 0.24%             | 2046-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                             | New Residential Mortgage Loan Trust                                                    | CUSIP: 64830MAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    216856 | PA      | $206544.25    | 0.03%             | 2059-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Principal Only STRIPS                         | CUSIP: 31397HKD9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1396 | PA      | $1160.90      | 0.00%             | 2037-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                                        | OCP SA                                                                                 | CUSIP: 67091TAF2<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    367000 | PA      | $398957.89    | 0.05%             | 2034-05-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BEDFORD ROW FUNDING CORP                                                        | Bedford Row Funding Corp.                                                              | CUSIP: 07644AXU3<br>LEI: 5493000JWH1Z48FX0180 | Long             | STIV             | CORP              | US        |   4000000 | PA      | $3987097.20   | 0.55%             | 2025-10-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140J8CB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    582743 | PA      | $560798.99    | 0.08%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    930200 | PA      | $858690.88    | 0.12%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CDY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8844000 | PA      | $7846286.25   | 1.08%             | 2032-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Manhattan West                                                                  | Manhattan West Mortgage Trust                                                          | CUSIP: 563136AE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    826000 | PA      | $788077.18    | 0.11%             | 2039-09-10      | Variable      | 2.41%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                                                         | Pfizer Investment Enterprises Pte. Ltd.                                                | CUSIP: 716973AF9<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |    998000 | PA      | $967172.97    | 0.13%             | 2043-05-19      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 31397THP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3319 | PA      | $3394.97      | 0.00%             | 2038-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                                    | Enbridge, Inc.                                                                         | CUSIP: 29250NCC7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1207000 | PA      | $1259873.00   | 0.17%             | 2034-04-05      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| TENN VALLEY AUTHORITY                                                           | Tennessee Valley Authority                                                             | CUSIP: 880591CS9<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   1459000 | PA      | $1632490.93   | 0.22%             | 2036-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 912828ZQ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2572000 | PA      | $2235831.58   | 0.31%             | 2030-05-15      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS                                    | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Interest Only STRIPS | CUSIP: 9393363L5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    154409 | PA      | $7938.16      | 0.00%             | 2035-04-25      | Floating      | 0.78%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31394VX39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     46457 | PA      | $38871.99     | 0.01%             | 2036-03-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                        | Angel Oak Mortgage Trust                                                               | CUSIP: 034934AA7<br>LEI: 254900HC0S1X9R2JZB30 | Long             | ABS-MBS          | CORP              | US        |   1991358 | PA      | $2011469.44   | 0.28%             | 2070-01-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| VICTORY RECEIVABLES CORP                                                        | Victory Receivables Corp.                                                              | CUSIP: 92646KXF4<br>LEI: 549300D0F37QF0LP7F94 | Long             | STIV             | CORP              | US        |   1700000 | PA      | $1697053.05   | 0.23%             | 2025-10-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                                                         | Imperial Brands Finance PLC                                                            | CUSIP: 45262BAK9<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |   1410000 | PA      | $1438095.48   | 0.20%             | 2035-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| GULFSTREAM NATURAL GAS                                                          | Gulfstream Natural Gas System LLC                                                      | CUSIP: 402740AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    631000 | PA      | $646500.71    | 0.09%             | 2035-07-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                                                    | CaixaBank SA                                                                           | CUSIP: 12803RAC8<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   2418000 | PA      | $2694316.59   | 0.37%             | 2034-09-13      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                                    | Ecopetrol SA                                                                           | CUSIP: 279158AW9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    574000 | PA      | $593982.66    | 0.08%             | 2032-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS                                        | CUSIP: 38375BF64<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        30 | PA      | $29.36        | 0.00%             | 2060-08-20      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                                       | Amgen, Inc.                                                                            | CUSIP: 031162DS6<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    627000 | PA      | $635309.21    | 0.09%             | 2043-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                         | HCA, Inc.                                                                              | CUSIP: 404119CV9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    848000 | PA      | $849660.82    | 0.12%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ELEMENT FLEET MANAGEMENT                                                        | Element Fleet Management Corp.                                                         | CUSIP: 286181AP7<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |   1929000 | PA      | $1967694.91   | 0.27%             | 2030-03-25      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Goodgreen Trust                                                                 | Goodgreen Trust                                                                        | CUSIP: 38217VAA8<br>LEI: 549300X0P2BXCQULUH20 | Long             | ABS-O            | CORP              | US        |     60415 | PA      | $55725.29     | 0.01%             | 2052-10-15      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| Structured Asset Mortgage Investments Inc                                       | Structured Asset Mortgage Investments II Trust                                         | CUSIP: 86359LAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     77713 | PA      | $74430.53     | 0.01%             | 2034-01-19      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS, Interest Only STRIPS                          | CUSIP: 31397PTW0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     20755 | PA      | $1968.53      | 0.00%             | 2038-01-15      | Floating      | 1.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31395BA52<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7161 | PA      | $6398.77      | 0.00%             | 2036-04-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                                          | Bank of New York Mellon Corp.                                                          | CUSIP: 06406YAB8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    414000 | PA      | $431769.64    | 0.06%             | 2039-07-21      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    735000 | PA      | $682229.29    | 0.09%             | 2044-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| GTA FUNDING LLC                                                                 | GTA Funding LLC                                                                        | CUSIP: 40060WYL0<br>LEI: 254900AKBBBSYOV90641 | Long             | STIV             | CORP              | US        |   3750000 | PA      | $3728075.25   | 0.51%             | 2025-11-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                                                                 | Federal National Mortgage Association Interest, Principal Only STRIPS                  | CUSIP: 3136FAWE6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1470 | PA      | $1321.42      | 0.00%             | 2033-01-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                          | PNC Financial Services Group, Inc.                                                     | CUSIP: 693475CE3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    761000 | PA      | $783120.84    | 0.11%             | 2036-07-21      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                        | OBX Trust                                                                              | CUSIP: 67448GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    576777 | PA      | $578935.99    | 0.08%             | 2063-03-25      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                                         | WaMu Mortgage Pass-Through Certificates Trust                                          | CUSIP: 929227T30<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15015 | PA      | $14849.50     | 0.00%             | 2033-06-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3132H3XT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    131326 | PA      | $124105.76    | 0.02%             | 2042-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31397MRK5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     18211 | PA      | $1504.22      | 0.00%             | 2038-09-25      | Floating      | 1.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31394EKR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     18775 | PA      | $20609.96     | 0.00%             | 2035-07-25      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS                                           | CUSIP: 31393YT54<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2525 | PA      | $2692.73      | 0.00%             | 2034-05-25      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2036000 | PA      | $2001324.38   | 0.28%             | 2055-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 912828Z78<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    950000 | PA      | $923132.81    | 0.13%             | 2027-01-31      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC / Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital          | CUSIP: 161175BT0<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    949000 | PA      | $751637.15    | 0.10%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0226A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  32210000 | PA      | $27131758.52  | 3.73%             | 2055-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810ST6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6400700 | PA      | $4175956.73   | 0.57%             | 2040-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK                                                           | Toronto-Dominion Bank                                                                  | CUSIP: 89119AZK7<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | CA        |   5000000 | PA      | $4954601.50   | 0.68%             | 2025-12-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HERO Funding Trust                                                              | HERO Funding Trust                                                                     | CUSIP: 42771XAC0<br>LEI: 549300Z5C0ID42MSJA91 | Long             | ABS-O            | CORP              | US        |    148898 | PA      | $143097.40    | 0.02%             | 2047-09-20      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                                | CIFC Funding Ltd.                                                                      | CUSIP: 12549BAY4<br>LEI: 2549009RG3XZEWMXDF59 | Long             | ABS-CBDO         | CORP              | KY        |    945412 | PA      | $946490.07    | 0.13%             | 2030-10-18      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    869000 | PA      | $785460.59    | 0.11%             | 2053-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                | T-Mobile USA, Inc.                                                                     | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    693000 | PA      | $679547.85    | 0.09%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31395NBG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4850 | PA      | $4306.49      | 0.00%             | 2036-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp. REMICS                                                | CUSIP: 3137AQUG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     35970 | PA      | $35540.81     | 0.00%             | 2037-07-15      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CCB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1127000 | PA      | $1003514.26   | 0.14%             | 2031-05-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0324A9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3498000 | PA      | $3388598.90   | 0.47%             | 2040-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Inflation-Protected Indexed Notes                                        | CUSIP: 912828ZZ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3782280 | PA      | $3595899.26   | 0.49%             | 2030-07-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                       | Uniform Mortgage-Backed Security, TBA                                                  | CUSIP: 01F0506A9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  13149000 | PA      | $13039300.00  | 1.79%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375JTD7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     11705 | PA      | $919.91       | 0.00%             | 2037-04-16      | Floating      | 2.55%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                        | EQT Corp.                                                                              | CUSIP: 26884LAZ2<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    431000 | PA      | $446941.17    | 0.06%             | 2029-04-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                                              | Royalty Pharma PLC                                                                     | CUSIP: 78081BAK9<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    856000 | PA      | $768513.81    | 0.11%             | 2030-09-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                                              | Ally Financial, Inc.                                                                   | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    321000 | PA      | $328570.54    | 0.05%             | 2029-05-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                                                 | MVW LLC                                                                                | CUSIP: 62847RAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2601558 | PA      | $2655148.30   | 0.37%             | 2043-02-20      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1729000 | PA      | $1739941.32   | 0.24%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Interest Only STRIPS                     | CUSIP: 31397M5Z6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7818 | PA      | $637.52       | 0.00%             | 2039-02-25      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Bonds                                                                    | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    786000 | PA      | $794351.25    | 0.11%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MACKINAC FUNDING CO LLC                                                         | Mackinac Funding Co. LLC                                                               | CUSIP: 55458EYJ3<br>LEI: 549300DSZ0UOZX6UNF02 | Long             | STIV             | CORP              | US        |   7000000 | PA      | $6960456.30   | 0.96%             | 2025-11-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38374UVQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12503 | PA      | $1033.63      | 0.00%             | 2039-06-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                               | Herc Holdings, Inc.                                                                    | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    683000 | PA      | $709449.86    | 0.10%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 38375LV72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9800 | PA      | $19.29        | 0.00%             | 2037-11-20      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                          | Verizon Communications, Inc.                                                           | CUSIP: 92343VFX7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1227000 | PA      | $1078930.27   | 0.15%             | 2030-10-30      | Fixed         | 1.68%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                                                          | Bunge Ltd. Finance Corp.                                                               | CUSIP: 120568BR0<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |   1695000 | PA      | $1714980.15   | 0.24%             | 2035-08-04      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                     | Federal Home Loan Mortgage Corp.                                                       | CUSIP: 3132H4CL3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    118384 | PA      | $115569.13    | 0.02%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTERNATIONAL                                                          | American International Group, Inc.                                                     | CUSIP: 026874DX2<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    520000 | PA      | $541687.80    | 0.07%             | 2035-05-07      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                                                        | Microchip Technology, Inc.                                                             | CUSIP: 595017BE3<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |   1071000 | PA      | $1094330.52   | 0.15%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                        | Government National Mortgage Association REMICS, Interest Only STRIPS                  | CUSIP: 383742AS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8892 | PA      | $47.49        | 0.00%             | 2037-12-20      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                          | U.S. Treasury Notes                                                                    | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    755000 | PA      | $779095.12    | 0.11%             | 2029-04-30      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                                                               | Sysco Corp.                                                                            | CUSIP: 871829BV8<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    690000 | PA      | $713048.92    | 0.10%             | 2035-03-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                                          | CHL Mortgage Pass-Through Trust                                                        | CUSIP: 12669FPC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10917 | PA      | $10889.44     | 0.00%             | 2034-04-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association                                                  | CUSIP: 3140M3AF7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1091311 | PA      | $924958.16    | 0.13%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                      | Federal National Mortgage Association REMICS, Principal Only STRIPS                    | CUSIP: 31395DTS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8065 | PA      | $7283.48      | 0.00%             | 2036-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

**Name of Applicant:** TRANSAMERICA SERIES TRUST

**Signature:** Kari Seabrands

**Name of Signer:** Kari Seabrands

**Title:** Treasurer