# EDGAR Filing Document

**Accession Number:** 0001547580
**File Stem:** 0001752724-23-041005
**Filing Date:** 2023-2
**Character Count:** 93165
**Document Hash:** aab0c38bb8ef1ab5cf9db4f189927523
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041005.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041005

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Victory Portfolios II
- **CENTRAL INDEX KEY:** 0001547580
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22696
- **FILM NUMBER:** 23670789

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD, 4TH FLOOR
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 216-898-2411

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD, 4TH FLOOR
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Compass EMP Funds Trust
- **DATE OF NAME CHANGE:** 20120417

## Series and Classes Contracts Data

### VictoryShares ESG Corporate Bond ETF (Series ID: S000073697)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000230773 | VictoryShares ESG Corporate Bond ETF | UCRD            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Victory Portfolios II

- **b. Investment Company Act file number:** 811-22696

- **c. CIK number of Registrant:** 0001547580

- **d. LEI of Registrant:** 5493002SUQLUY3T5P040

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

  - **Street Address 1:** 4900 Tiedeman Road 4th Floor

  - **City:** Brooklyn

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44144

  - **Telephone number:** 800-539-3863

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

- **a. Name of Series:** VictoryShares ESG Corporate Bond ETF

- **b. EDGAR series identifier (if any):** S000073697

- **c. LEI of Series:** 549300KWMTK88G1WP504

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $101125684.04

**Total Liabilities:** $64883.73

**Net Assets:** $101060800.31

**Cash Not Reported:** $551547.96

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -88.71179214 | **1-Year:** -3071.97146175 | **5-Year:** -21859.64158797 | **10-Year:** -36792.42975343 | **30-Year:** -14671.54982146

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

- **3-Month:** -1.79422340 | **1-Year:** -35.81278049 | **5-Year:** -345.54184850 | **10-Year:** -612.55520683 | **30-Year:** -74.86700223

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000230773 | -0.96%               | 5.37%                | -0.59%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-461928.45              | $-753126.57                                |
| Month 2  | $-13031.45               | $4947017.38                                |
| Month 3  | $-445652.42              | $-420595.07                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MORGAN STANLEY                                       | MORGAN STANLEY                           | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    250000 | PA      | $182357.50    | 0.18%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORPORATION                               | CVS HEALTH CORP                          | CUSIP: 126650DN7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1572180.00   | 1.56%             | 2030-08-21      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC (FIN) COMPANY                        | GLOBAL ATLANTIC FIN CO                   | CUSIP: 37959GAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $183270.00    | 0.18%             | 2031-06-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| BURLINGTON NORTHERN SANTA FE, LLC                    | BURLINGTON NORTHERN SANTA FE LLC         | CUSIP: 12189LAY7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $485890.00    | 0.48%             | 2025-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC.                            | BAXTER INTERNATIONAL INC                 | CUSIP: 071813CQ0<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    250000 | PA      | $199125.00    | 0.20%             | 2032-02-01      | Fixed         | 2.54%                 | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                          | BANK OF AMERICA CORP                     | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    250000 | PA      | $196115.00    | 0.19%             | 2032-10-20      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| WISCONSIN PUBLIC SERVICE CORPORATION                 | WISCONSIN PUBLIC SERVICE CORP            | CUSIP: 976843BN1<br>LEI: 549300BJRHJVYNUMQZ30 | Long             | DBT              | CORP              | US        |    250000 | PA      | $160790.00    | 0.16%             | 2051-12-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE SA                                  | SOCIETE GENERALE                         | CUSIP: 83368RAZ5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $435695.00    | 0.43%             | 2026-12-14      | Fixed         | 1.49%                 | Yes           |                  2 | On Loan: No      |
| Open Text Corporation                                | OPEN TEXT CORP                           | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |     98000 | PA      | $98811.44     | 0.10%             | 2027-12-01      | Fixed         | 6.90%                 | Yes           |                  2 | On Loan: No      |
| CULLEN/FROST BANKERS, INC.                           | CULLEN FROST BANKERS INC                 | CUSIP: 229899AB5<br>LEI: 529900V2E9G9AY665O34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $482350.00    | 0.48%             | 2027-03-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORPORATION                          | WESTERN DIGITAL CORP                     | CUSIP: 958102AR6<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |    250000 | PA      | $179770.00    | 0.18%             | 2032-02-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINANCE NORTH AMERICA LLC              | DAIMLER TRUCKS FINANCE NORTH AMERICA LLC | CUSIP: 233853AG5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    350000 | PA      | $294826.00    | 0.29%             | 2028-12-14      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| ESSEX PORTFOLIO, L.P.                                | ESSEX PORTFOLIO LP                       | CUSIP: 29717PAV9<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              | CORP              | US        |    500000 | PA      | $395145.00    | 0.39%             | 2032-03-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| AMGEN INC.                                           | AMGEN INC                                | CUSIP: 031162DB3<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    500000 | PA      | $417745.00    | 0.41%             | 2028-08-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FUNDING                         | NEW YORK LIFE GLOBAL FUNDING             | CUSIP: 64952WEG4<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |    500000 | PA      | $394050.00    | 0.39%             | 2031-08-01      | Fixed         | 1.85%                 | Yes           |                  2 | On Loan: No      |
| BMW US CAPITAL, LLC                                  | BMW US CAPITAL LLC                       | CUSIP: 05565ECB9<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |    500000 | PA      | $447915.00    | 0.44%             | 2032-04-01      | Fixed         | 3.70%                 | Yes           |                  2 | On Loan: No      |
| BANK OF NEW ZEALAND                                  | BANK OF NEW ZEALAND                      | CUSIP: 06407EAF2<br>LEI: N7LGVZM7X4UQ66T7LT74 | Long             | DBT              | CORP              | NZ        |    250000 | PA      | $206095.00    | 0.20%             | 2032-01-27      | Fixed         | 2.87%                 | Yes           |                  2 | On Loan: No      |
| FEDEX CORPORATION                                    | FEDEX CORP                               | CUSIP: 31428XBQ8<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    250000 | PA      | $189900.00    | 0.19%             | 2048-02-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP.                                   | ITC HOLDINGS CORP                        | CUSIP: 465685AP0<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |    500000 | PA      | $459960.00    | 0.46%             | 2027-11-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINANCIAL COMPANY, INC.               | GENERAL MOTORS FINANCIAL CO INC          | CUSIP: 37045XDV5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    500000 | PA      | $448830.00    | 0.44%             | 2029-04-06      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Shell International Finance B.V.                     | SHELL INTERNATIONAL FINANCE BV           | CUSIP: 822582CG5<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $439460.00    | 0.43%             | 2030-04-06      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                 | JPMORGAN CHASE CO                        | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    250000 | PA      | $205835.00    | 0.20%             | 2031-05-13      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| ORACLE CORPORATION                                   | ORACLE CORP                              | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    500000 | PA      | $426800.00    | 0.42%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                           | ROGERS COMMUNICATIONS INC                | CUSIP: 775109BZ3<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $406130.00    | 0.40%             | 2042-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC.                                 | GLOBAL PAYMENTS INC                      | CUSIP: 37940XAQ5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    250000 | PA      | $238345.00    | 0.24%             | 2032-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE S.A. LONDON BRANCH                   | CREDIT AGRICOLE SA LONDON                | CUSIP: 22535WAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    500000 | PA      | $481810.00    | 0.48%             | 2024-10-04      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| BP CAPITAL MARKETS P.L.C.                            | BP CAPITAL MARKETS PLC                   | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $218875.00    | 0.22%             | 2199-12-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WarnerMedia Holdings, Inc.                           | MAGALLANES INC                           | CUSIP: 55903VAN3<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    389000 | PA      | $299141.00    | 0.30%             | 2042-03-15      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| CARRIER GLOBAL CORPORATION                           | CARRIER GLOBAL CORP                      | CUSIP: 14448CAR5<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    750000 | PA      | $568222.50    | 0.56%             | 2040-04-05      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CORPORATION                                | ALBEMARLE CORP                           | CUSIP: 012653AD3<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | DBT              | CORP              | US        |    500000 | PA      | $488910.00    | 0.48%             | 2027-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                              | BANK OF NOVA SCOTIA THE                  | CUSIP: 064159HB5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $490535.00    | 0.49%             | 2025-12-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                             | LLOYDS BANKING GROUP PLC                 | CUSIP: 539439AW9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    303000 | PA      | $321119.40    | 0.32%             | 2033-11-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                          | VERIZON COMMUNICATIONS                   | CUSIP: 92343VFR0<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $774580.00    | 0.77%             | 2031-01-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                                   | KOHL S CORP                              | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |    250000 | PA      | $175512.50    | 0.17%             | 2031-05-01      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| THE BOEING COMPANY                                   | BOEING CO THE                            | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $465200.00    | 0.46%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| AUTODESK, INC.                                       | AUTODESK INC                             | CUSIP: 052769AH9<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | DBT              | CORP              | US        |    750000 | PA      | $601507.50    | 0.60%             | 2031-12-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| GLP Capital, L.P.                                    | GLP CAPITAL LP GLP FINANCING II INC      | CUSIP: 361841AR0<br>LEI: 2549005PXW31DRW8EC44 | Long             | DBT              | CORP              | US        |    117000 | PA      | $93623.40     | 0.09%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| OTIS WORLDWIDE CORPORATION                           | OTIS WORLDWIDE CORP                      | CUSIP: 68902VAL1<br>LEI: 549300ZLBKR8VSU25153 | Long             | DBT              | CORP              | US        |    500000 | PA      | $368535.00    | 0.36%             | 2040-02-15      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| WRKCO INC.                                           | WRKCO INC                                | CUSIP: 92940PAG9<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $797990.00    | 0.79%             | 2033-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| THE TIMKEN COMPANY                                   | TIMKEN CO THE                            | CUSIP: 887389AL8<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | DBT              | CORP              | US        |    500000 | PA      | $445605.00    | 0.44%             | 2032-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORPORATION                             | TSMC ARIZONA CORP                        | CUSIP: 872898AC5<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $821570.00    | 0.81%             | 2031-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| THE DOW CHEMICAL COMPANY                             | DOW CHEMICAL CO THE                      | CUSIP: 260543DG5<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $526815.00    | 0.52%             | 2033-03-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| V.F. CORPORATION                                     | VF CORP                                  | CUSIP: 918204BC1<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |     76000 | PA      | $63222.12     | 0.06%             | 2030-04-23      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| THE ALLSTATE CORPORATION                             | ALLSTATE CORP                            | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    500000 | PA      | $470900.00    | 0.47%             | 2053-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LIMITED                               | MACQUARIE BANK LTD                       | CUSIP: 556079AD3<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |    500000 | PA      | $362760.00    | 0.36%             | 2036-03-03      | Fixed         | 3.05%                 | Yes           |                  2 | On Loan: No      |
| JABIL INC.                                           | JABIL INC                                | CUSIP: 466313AK9<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |    500000 | PA      | $413585.00    | 0.41%             | 2031-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corporation                         | TRUIST FINANCIAL CORP                    | CUSIP: 89788MAE2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $840260.00    | 0.83%             | 2029-06-07      | Fixed         | 1.89%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC.                                | KEURIG DR PEPPER INC                     | CUSIP: 49271VAR1<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |     75000 | PA      | $62847.00     | 0.06%             | 2052-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                               | STANDARD CHARTERED PLC                   | CUSIP: 853254CN8<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $529830.00    | 0.52%             | 2028-11-16      | Fixed         | 7.77%                 | Yes           |                  2 | On Loan: No      |
| ORACLE CORPORATION                                   | ORACLE CORP                              | CUSIP: 68389XCC7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $896180.00    | 0.89%             | 2026-03-25      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC.                                          | ABBVIE INC                               | CUSIP: 00287YCB3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $420285.00    | 0.42%             | 2049-11-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PULTEGROUP, INC.                                     | PULTEGROUP INC                           | CUSIP: 745867AT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $477965.00    | 0.47%             | 2035-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WEBSTER FINANCIAL CORPORATION                        | WEBSTER FINANCIAL CORP                   | CUSIP: 947890AJ8<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | DBT              | CORP              | US        |    500000 | PA      | $454045.00    | 0.45%             | 2029-03-25      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                          | BANK OF AMERICA CORP                     | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1600140.00   | 1.58%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| Shell International Finance B.V.                     | SHELL INTERNATIONAL FINANCE BV           | CUSIP: 822582CK6<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $363975.00    | 0.36%             | 2041-11-26      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WORLDWIDE INC.                  | ANHEUSER BUSCH INBEV WORLDWIDE INC       | CUSIP: 03523TBQ0<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    750000 | PA      | $599917.50    | 0.59%             | 2042-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WORKDAY, INC.                                        | WORKDAY INC                              | CUSIP: 98138HAH4<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    500000 | PA      | $458650.00    | 0.45%             | 2029-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| GENUINE PARTS COMPANY                                | GENUINE PARTS CO                         | CUSIP: 372460AC9<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |    167000 | PA      | $134366.53    | 0.13%             | 2032-02-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING, INC.                              | LEVEL 3 FINANCING INC                    | CUSIP: 527298BQ5<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    500000 | PA      | $394110.00    | 0.39%             | 2029-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| PERKINELMER, INC.                                    | PERKINELMER INC                          | CUSIP: 714046AH2<br>LEI: 549300IKL1SDPFI7N655 | Long             | DBT              | CORP              | US        |    500000 | PA      | $403870.00    | 0.40%             | 2031-03-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS, LLC                        | DISCOVERY COMMUNICATIONS LLC             | CUSIP: 25470DAR0<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    500000 | PA      | $443715.00    | 0.44%             | 2028-03-20      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| APTARGROUP, INC.                                     | APTARGROUP INC                           | CUSIP: 038336AA1<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | DBT              | CORP              | US        |    588000 | PA      | $487722.48    | 0.48%             | 2032-03-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM, INC.                                   | RYDER SYSTEM INC                         | CUSIP: 78355HKT5<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    500000 | PA      | $452655.00    | 0.45%             | 2027-03-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA, LLC                             | DUKE ENERGY FLORIDA LLC                  | CUSIP: 26444HAK7<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $814310.00    | 0.81%             | 2031-12-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                | SUMITOMO MITSUI FINANCIAL GROUP INC      | CUSIP: 86562MCN8<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    250000 | PA      | $210685.00    | 0.21%             | 2029-01-14      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| DELL INC.                                            | DELL INC                                 | CUSIP: 24702RAM3<br>LEI: 3E70L4WYANTIWWIPHC81 | Long             | DBT              | CORP              | US        |    500000 | PA      | $437590.00    | 0.43%             | 2040-09-10      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                       | MORGAN STANLEY                           | CUSIP: 6174468X0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $377770.00    | 0.37%             | 2032-04-28      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| ORACLE CORPORATION                                   | ORACLE CORP                              | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    250000 | PA      | $170552.50    | 0.17%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| LOWE'S COMPANIES, INC.                               | LOWE S COS INC                           | CUSIP: 548661EE3<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $680720.00    | 0.67%             | 2041-09-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                          | BANK OF AMERICA CORP                     | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1360545.00   | 1.35%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| AUTONATION, INC.                                     | AUTONATION INC                           | CUSIP: 05329RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $399650.00    | 0.40%             | 2032-03-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES, INC.                                  | CBRE SERVICES INC                        | CUSIP: 12505BAE0<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    250000 | PA      | $197590.00    | 0.20%             | 2031-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                      | SBA TOWER TRUST                          | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $209486.91    | 0.21%             | 2052-11-15      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| QUANTA SERVICES, INC.                                | QUANTA SERVICES INC                      | CUSIP: 74762EAF9<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |    500000 | PA      | $411675.00    | 0.41%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| HP INC.                                              | HP INC                                   | CUSIP: 40434LAK1<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    500000 | PA      | $457800.00    | 0.45%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                                     | ARCELORMITTAL SA                         | CUSIP: 03938LBF0<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $249235.00    | 0.25%             | 2032-11-29      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| FORTUNE BRANDS INNOVATIONS, INC.                     | FORTUNE BRANDS HOME SECURITY INC         | CUSIP: 34964CAF3<br>LEI: 54930032LHW54PQUJD44 | Long             | DBT              | CORP              | US        |    250000 | PA      | $216977.50    | 0.21%             | 2032-03-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY COMPANY LLC                  | ONCOR ELECTRIC DELIVERY CO LLC           | CUSIP: 68233JBB9<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    500000 | PA      | $403075.00    | 0.40%             | 2045-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES, INC.                      | UNIVERSAL HEALTH SERVICES INC            | CUSIP: 913903AY6<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |    191000 | PA      | $145102.70    | 0.14%             | 2032-01-15      | Fixed         | 2.65%                 | Yes           |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS, INC.                | NEXTERA ENERGY CAPITAL HOLDINGS INC      | CUSIP: 65339KBZ2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    500000 | PA      | $402965.00    | 0.40%             | 2032-01-15      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Group AG                               | CREDIT SUISSE GROUP AG                   | CUSIP: 225401AZ1<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    435000 | PA      | $382138.80    | 0.38%             | 2033-08-12      | Fixed         | 6.54%                 | Yes           |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC                                   | SMITH NEPHEW PLC                         | CUSIP: 83192PAA6<br>LEI: 213800ZTMDN8S67S1H61 | Long             | DBT              | CORP              | GB        |    725000 | PA      | $569074.25    | 0.56%             | 2030-10-14      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| BANQUE CANADIENNE IMPERIALE DE COMMERCE              | CANADIAN IMPERIAL BANK OF COMMERCE       | CUSIP: 136055AA8<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    227603 | PA      | $260187.07    | 0.26%             | 2032-04-10      | Fixed         | 7.26%                 | Yes           |                  2 | On Loan: No      |
| DENTSPLY SIRONA INC.                                 | DENTSPLY SIRONA INC                      | CUSIP: 24906PAA7<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $828250.00    | 0.82%             | 2030-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA, INC.                                   | T MOBILE USA INC                         | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1222395.00   | 1.21%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| PACKAGING CORPORATION OF AMERICA                     | PACKAGING CORP OF AMERICA                | CUSIP: 695156AW9<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | DBT              | CORP              | US        |    750000 | PA      | $481605.00    | 0.48%             | 2051-10-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Hasbro, Inc.                                         | HASBRO INC                               | CUSIP: 418056AY3<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |    500000 | PA      | $469075.00    | 0.46%             | 2026-11-19      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                             | AMERICAN EXPRESS CO                      | CUSIP: 025816CX5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    500000 | PA      | $481880.00    | 0.48%             | 2033-05-26      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY    | BRITISH TELECOMMUNICATIO                 | CUSIP: 11102AAE1<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $424980.00    | 0.42%             | 2029-11-08      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| BNP PARIBAS SA                                       | BNP PARIBAS SA                           | CUSIP: 05581KAC5<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $476875.00    | 0.47%             | 2027-03-13      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| F&G GLOBAL FUNDING                                   | F G GLOBAL FUNDING                       | CUSIP: 30321L2C5<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $207142.50    | 0.20%             | 2028-09-20      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORPORATION                                | AIR LEASE CORP                           | CUSIP: 00914AAS1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    250000 | PA      | $199427.50    | 0.20%             | 2032-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                 | GLENCORE FUNDING LLC                     | CUSIP: 378272BD9<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    300000 | PA      | $265518.00    | 0.26%             | 2026-04-27      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| BOSTON PROPERTIES LIMITED PARTNERSHIP                | BOSTON PROPERTIES LP                     | CUSIP: 10112RBE3<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    500000 | PA      | $381015.00    | 0.38%             | 2032-04-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                             | CELANESE US HOLDINGS LLC                 | CUSIP: 15089QAN4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    128000 | PA      | $124586.24    | 0.12%             | 2029-07-15      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                 | JPMORGAN CHASE CO                        | CUSIP: 46647PCE4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $688850.00    | 0.68%             | 2052-04-22      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN PUBLIC SERVICE COMPANY                  | SOUTHWESTERN PUBLIC SERVICE CO           | CUSIP: 84574UN33<br>LEI: OL6FE7QD5EQ3DOYEO258 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $999495.11    | 0.99%             |  |  |  | Yes           |                  2 | On Loan: No      |
| RELIANCE STEEL & ALUMINUM CO.                        | RELIANCE STEEL ALUMINUM CO               | CUSIP: 759509AG7<br>LEI: 549300E287ZOFT3C5Z56 | Long             | DBT              | CORP              | US        |    500000 | PA      | $395005.00    | 0.39%             | 2030-08-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| BUNGE LIMITED FINANCE CORP.                          | BUNGE LTD FINANCE CORP                   | CUSIP: 120568BC3<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    500000 | PA      | $410440.00    | 0.41%             | 2031-05-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corporation                         | TRUIST FINANCIAL CORP                    | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    500000 | PA      | $464335.00    | 0.46%             | 2199-12-31      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| LYB INTERNATIONAL FINANCE III, LLC                   | LYB INT FINANCE III                      | CUSIP: 50249AAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $370865.00    | 0.37%             | 2050-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                 | JPMORGAN CHASE CO                        | CUSIP: 46647PCW4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    500000 | PA      | $452605.00    | 0.45%             | 2028-02-24      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| THE PNC FINANCIAL SERVICES GROUP, INC.               | PNC FINANCIAL SERVICES                   | CUSIP: 693475AZ8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    500000 | PA      | $424890.00    | 0.42%             | 2030-01-22      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORPORATION                           | AMERICAN TOWER CORP                      | CUSIP: 03027XBJ8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    500000 | PA      | $414165.00    | 0.41%             | 2028-01-31      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC COMPANY                                 | DTE ELECTRIC CO                          | CUSIP: 23338VAR7<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |    500000 | PA      | $389560.00    | 0.39%             | 2052-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                       | MORGAN STANLEY                           | CUSIP: 61772BAB9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2194700.00   | 2.17%             | 2027-05-04      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                    | NATWEST GROUP PLC                        | CUSIP: 639057AC2<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $866550.00    | 0.86%             | 2027-06-14      | Fixed         | 1.64%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                     | CBS CORP                                 | CUSIP: 124857AZ6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    750000 | PA      | $667005.00    | 0.66%             | 2029-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| BURLINGTON NORTHERN SANTA FE, LLC                    | BURLINGTON NORTHERN SANTA FE LLC         | CUSIP: 12189LAZ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $407830.00    | 0.40%             | 2046-08-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| DUQUESNE LIGHT HOLDINGS, INC.                        | DUQUESNE LIGHT HOLDINGS INC              | CUSIP: 266233AJ4<br>LEI: 4CUJ1D8WDXK9X7QI6B93 | Long             | DBT              | CORP              | US        |    250000 | PA      | $195827.50    | 0.19%             | 2032-01-07      | Fixed         | 2.77%                 | Yes           |                  2 | On Loan: No      |
| BLUE OWL FINANCE LLC                                 | BLUE OWL FINANCE LLC                     | CUSIP: 09581JAA4<br>LEI: 254900OF2NO2GYFV5T41 | Long             | DBT              | CORP              | US        |    250000 | PA      | $184372.50    | 0.18%             | 2031-06-10      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPERATING, LLC                | CHARTER COMMUNICATIONS OPERATING LLC     | CUSIP: 161175CJ1<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    750000 | PA      | $642750.00    | 0.64%             | 2033-04-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS P.L.C.                            | BP CAPITAL MARKETS PLC                   | CUSIP: 05565QDU9<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $476245.00    | 0.47%             | 2199-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS, L.P.                          | HOST HOTELS RESORTS LP                   | CUSIP: 44107TAZ9<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              | CORP              | US        |    500000 | PA      | $412455.00    | 0.41%             | 2030-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ELECTRIC POWER COMPANY                  | SOUTHWESTERN ELECTRIC POWER CO           | CUSIP: 845437BT8<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |    250000 | PA      | $165305.00    | 0.16%             | 2051-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LA BANQUE TORONTO-DOMINION                           | TORONTO DOMINION BANK THE                | CUSIP: 891160MJ9<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $460410.00    | 0.46%             | 2031-09-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| AT&T INC.                                            | AT T INC                                 | CUSIP: 00206RKD3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1385540.00   | 1.37%             | 2043-02-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| ERP OPERATING LIMITED PARTNERSHIP                    | ERP OPERATING LP                         | CUSIP: 26884ABF9<br>LEI: DX5HQV5MLU50FEWZ5072 | Long             | DBT              | CORP              | US        |    500000 | PA      | $462115.00    | 0.46%             | 2026-11-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| GXO LOGISTICS, INC.                                  | GXO LOGISTICS INC                        | CUSIP: 36262GAD3<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |    750000 | PA      | $555937.50    | 0.55%             | 2031-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                 | JPMORGAN CHASE CO                        | CUSIP: 46647PBX3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $1913675.00   | 1.89%             | 2032-02-04      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT COMPANY                        | FLORIDA POWER LIGHT CO                   | CUSIP: 341081GE1<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    500000 | PA      | $340480.00    | 0.34%             | 2051-12-04      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                          | VERIZON COMMUNICATIONS INC               | CUSIP: 92343VFU3<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $630700.00    | 0.62%             | 2050-11-20      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Duke Energy Carolinas, LLC                           | DUKE ENERGY CAROLINAS LLC                | CUSIP: 26442CBG8<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    250000 | PA      | $211215.00    | 0.21%             | 2032-03-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| MCCORMICK & COMPANY, INCORPORATED                    | MCCORMICK CO INC MD                      | CUSIP: 579780AS6<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |    500000 | PA      | $386845.00    | 0.38%             | 2031-02-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| AMGEN INC.                                           | AMGEN INC                                | CUSIP: 031162DF4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    250000 | PA      | $200717.50    | 0.20%             | 2052-02-22      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORPORATION                                  | ENTERGY CORP                             | CUSIP: 29364GAP8<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |    500000 | PA      | $396330.00    | 0.39%             | 2031-06-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC.                                        | BROADCOM INC                             | CUSIP: 11135FBF7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $749590.00    | 0.74%             | 2033-02-15      | Fixed         | 2.60%                 | Yes           |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP OF AMERICA FINANCE, LLC             | VOLKSWAGEN GROUP OF AMERICA FINANCE LLC  | CUSIP: 928668BT8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $472745.00    | 0.47%             | 2029-06-08      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| Credit Suisse Group AG                               | CREDIT SUISSE GROUP AG                   | CUSIP: 225401BB3<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    250000 | PA      | $257177.50    | 0.25%             | 2033-11-15      | Fixed         | 9.02%                 | Yes           |                  2 | On Loan: No      |
| HUBBELL INCORPORATED                                 | HUBBELL INC                              | CUSIP: 443510AK8<br>LEI: 54930088VDQ6840Y6597 | Long             | DBT              | CORP              | US        |    500000 | PA      | $398160.00    | 0.39%             | 2031-03-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| FIRST AMERICAN FINANCIAL CORPORATION                 | FIRST AMERICAN FINANCIAL CORP            | CUSIP: 31847RAH5<br>LEI: 549300B6VEZK3N0A1P55 | Long             | DBT              | CORP              | US        |    750000 | PA      | $548325.00    | 0.54%             | 2031-08-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL, INC.                                | ASHTEAD CAPITAL INC                      | CUSIP: 04505AAA7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    500000 | PA      | $479195.00    | 0.47%             | 2032-08-11      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| NORTHERN TRUST CORPORATION                           | NORTHERN TRUST CORP                      | CUSIP: 665859AX2<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    500000 | PA      | $528560.00    | 0.52%             | 2032-11-02      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Ontario Teachers' Cadillac Fairview Properties Trust | ONTARIO TEACHERS CADILLAC FAIRVIEW PROP  | CUSIP: 68327LAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    504000 | PA      | $379481.76    | 0.38%             | 2031-10-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| TRACTOR SUPPLY COMPANY                               | TRACTOR SUPPLY CO                        | CUSIP: 892356AA4<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |    500000 | PA      | $384090.00    | 0.38%             | 2030-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| KILROY REALTY, L.P.                                  | KILROY REALTY LP                         | CUSIP: 49427RAR3<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    500000 | PA      | $344015.00    | 0.34%             | 2033-11-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| QORVO, INC.                                          | QORVO INC                                | CUSIP: 74736KAJ0<br>LEI: 254900YAUJV2EUEVBR11 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $811100.00    | 0.80%             | 2031-04-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| THE BOEING COMPANY                                   | BOEING CO THE                            | CUSIP: 097023DC6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    750000 | PA      | $656430.00    | 0.65%             | 2031-02-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC.                                    | CROWN CASTLE INTERNATIONAL CORP          | CUSIP: 22822VAT8<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    250000 | PA      | $199922.50    | 0.20%             | 2031-01-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| CARLISLE COMPANIES INCORPORATED                      | CARLISLE COS INC                         | CUSIP: 142339AJ9<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |    500000 | PA      | $416035.00    | 0.41%             | 2030-03-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ILLUMINA, INC.                                       | ILLUMINA INC                             | CUSIP: 452327AM1<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |    500000 | PA      | $400110.00    | 0.40%             | 2031-03-23      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| EAGLE MATERIALS INC.                                 | EAGLE MATERIALS INC                      | CUSIP: 26969PAB4<br>LEI: 529900KRXRGXL61SG039 | Long             | DBT              | CORP              | US        |    250000 | PA      | $195510.00    | 0.19%             | 2031-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Alabama Power Company                                | ALABAMA POWER CO                         | CUSIP: 010392FV5<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |    500000 | PA      | $345260.00    | 0.34%             | 2051-07-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK OF AUSTRALIA                       | COMMONWEALTH BANK OF AUSTRALIA           | CUSIP: 202712BN4<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |    500000 | PA      | $384515.00    | 0.38%             | 2031-03-11      | Fixed         | 2.69%                 | Yes           |                  2 | On Loan: No      |
| PECO Energy Company                                  | PECO ENERGY CO                           | CUSIP: 693304AX5<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |    500000 | PA      | $343205.00    | 0.34%             | 2049-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS, INC.                                  | GENERAL MILLS INC                        | CUSIP: 370334CQ5<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    750000 | PA      | $601492.50    | 0.60%             | 2031-10-14      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                                    | SYSCO CORP                               | CUSIP: 871829BQ9<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    500000 | PA      | $401270.00    | 0.40%             | 2031-12-14      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC.                                  | ALLY FINANCIAL INC                       | CUSIP: 02005NBR0<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    278000 | PA      | $283429.34    | 0.28%             | 2027-11-15      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| CIGNA CORPORATION                                    | CIGNA CORP                               | CUSIP: 125523CB4<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    500000 | PA      | $469220.00    | 0.46%             | 2027-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Ferguson Finance Plc                                 | FERGUSON FINANCE PLC                     | CUSIP: 314890AB0<br>LEI: 2138003A7ZEU931DZL61 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $423710.00    | 0.42%             | 2030-06-02      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                              | BPCE SA                                  | CUSIP: 05578AAJ7<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $224212.50    | 0.22%             | 2028-01-11      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                          | BANK OF AMERICA CORP                     | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $424910.00    | 0.42%             | 2199-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                         | HUNTINGTON NATIONAL BANK THE             | CUSIP: 44644MAJ0<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251027.50    | 0.25%             | 2030-01-10      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC.                                | KEURIG DR PEPPER INC                     | CUSIP: 49271VAP5<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    250000 | PA      | $232272.50    | 0.23%             | 2029-04-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE EQUITIES, INC.                | ALEXANDRIA REAL ESTATE EQUITIES INC      | CUSIP: 015271AW9<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $769460.00    | 0.76%             | 2032-05-18      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| OLYMPUS CORPORATION                                  | OLYMPUS CORP                             | CUSIP: 68163WAA7<br>LEI: 5299000Y52IFDI1I2A21 | Long             | DBT              | CORP              | JP        |    152000 | PA      | $134526.08    | 0.13%             | 2026-12-08      | Fixed         | 2.14%                 | Yes           |                  2 | On Loan: No      |
| ENEL Finance International N.V.                      | ENEL FINANCE INTERNATIONAL NV            | CUSIP: 29278GBA5<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $531350.00    | 0.53%             | 2032-10-14      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| OWL ROCK CORE INCOME CORP.                           | OWL ROCK CORE INCOME CORP                | CUSIP: 69120VAE1<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    375000 | PA      | $336067.50    | 0.33%             | 2027-02-08      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY                         | BRISTOL MYERS SQUIBB CO                  | CUSIP: 110122DS4<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $315795.00    | 0.31%             | 2050-11-13      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Becle, S.A.B. de C.V.                                | BECLE SAB DE CV                          | CUSIP: 07586PAA9<br>LEI: 529900JY55CZKMJLCE09 | Long             | DBT              | CORP              | MX        |    250000 | PA      | $192870.00    | 0.19%             | 2031-10-14      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| ACUITY BRANDS LIGHTING, INC.                         | ACUITY BRANDS LIGHTING                   | CUSIP: 00510RAD5<br>LEI: 549300OTPVPFLUC38K21 | Long             | DBT              | CORP              | US        |    750000 | PA      | $576285.00    | 0.57%             | 2030-12-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| BAYPORT POLYMERS LLC                                 | BAYPORT POLYMERS LLC                     | CUSIP: 073096AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $464780.00    | 0.46%             | 2027-04-14      | Fixed         | 4.74%                 | Yes           |                  2 | On Loan: No      |
| BIO-RAD LABORATORIES, INC.                           | BIO RAD LABORATORIES INC                 | CUSIP: 090572AR9<br>LEI: 549300ZC1GPV35XYDK53 | Long             | DBT              | CORP              | US        |    250000 | PA      | $230647.50    | 0.23%             | 2027-03-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                             | LLOYDS BANKING GROUP PLC                 | CUSIP: 53944YAP8<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $864900.00    | 0.86%             | 2027-05-11      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                    | HSBC HOLDINGS PLC                        | CUSIP: 404280CV9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $807670.00    | 0.80%             | 2029-08-17      | Fixed         | 2.21%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS, INC.                             | ADVANCE AUTO PARTS INC                   | CUSIP: 00751YAG1<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    250000 | PA      | $204380.00    | 0.20%             | 2032-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT COMPANY                        | FLORIDA POWER LIGHT CO                   | CUSIP: 341081FX0<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    250000 | PA      | $181607.50    | 0.18%             | 2049-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LIMITED                                    | AIRCASTLE LTD                            | CUSIP: 00928QAS0<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $470740.00    | 0.47%             | 2026-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMEREN CORPORATION                                   | AMEREN CORP                              | CUSIP: 023608AJ1<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    250000 | PA      | $220690.00    | 0.22%             | 2031-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB INC.                            | MYLAN NV                                 | CUSIP: 62854AAN4<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |    500000 | PA      | $467295.00    | 0.46%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                 | JPMORGAN CHASE CO                        | CUSIP: 48128BAG6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    500000 | PA      | $443965.00    | 0.44%             | 2199-12-31      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                              | GA GLOBAL FUNDING TRUST                  | CUSIP: 36143L2A2<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    500000 | PA      | $443730.00    | 0.44%             | 2026-01-15      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| W. R. BERKLEY CORPORATION                            | W R BERKLEY CORP                         | CUSIP: 084423AV4<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | DBT              | CORP              | US        |    250000 | PA      | $172332.50    | 0.17%             | 2052-03-30      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Pentair Finance S.a r.l.                             | PENTAIR FINANCE SARL                     | CUSIP: 709629AS8<br>LEI: 549300H2U8U8TZPV3T89 | Long             | DBT              | CORP              | LU        |    500000 | PA      | $495485.00    | 0.49%             | 2032-07-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE, INC.                       | WALGREENS BOOTS ALLIANCE INC             | CUSIP: 931427AT5<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |    250000 | PA      | $183960.00    | 0.18%             | 2050-04-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG (New York Branch)                   | DEUTSCHE BANK NY                         | CUSIP: 251526BN8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $417490.00    | 0.41%             | 2032-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WORLDWIDE INC.                  | ANHEUSER BUSCH INBEV WORLDWIDE INC       | CUSIP: 035240AV2<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    750000 | PA      | $682132.50    | 0.67%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHURCH & DWIGHT CO., INC.                            | CHURCH DWIGHT CO INC                     | CUSIP: 17136MAA0<br>LEI: POOXSI30AWAQGYJZC921 | Long             | DBT              | CORP              | US        |    250000 | PA      | $200195.00    | 0.20%             | 2031-12-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| AVERY DENNISON CORPORATION                           | AVERY DENNISON CORP                      | CUSIP: 053611AM1<br>LEI: 549300PW7VPFCYKLIV37 | Long             | DBT              | CORP              | US        |    500000 | PA      | $380880.00    | 0.38%             | 2032-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| STEWART INFORMATION SERVICES CORPORATION             | STEWART INFORMATION SERVICES CORP        | CUSIP: 86038AAA0<br>LEI: 529900TV1XI0PLKENU10 | Long             | DBT              | CORP              | US        |    250000 | PA      | $190620.00    | 0.19%             | 2031-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC.                                   | NEWELL BRANDS INC                        | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248215.00    | 0.25%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL, INC.                           | PRUDENTIAL FINANCIAL INC                 | CUSIP: 744320BA9<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    500000 | PA      | $392510.00    | 0.39%             | 2049-12-07      | Fixed         | 3.94%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                                       | VAR ENERGI ASA                           | CUSIP: 92212WAE0<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    250000 | PA      | $257725.00    | 0.26%             | 2032-11-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.               | SIEMENS FINANCIERINGSMAATSCHAPPIJ NV     | CUSIP: 82620KAU7<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $471085.00    | 0.47%             | 2027-03-16      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| BARCLAYS PLC                                         | BARCLAYS PLC                             | CUSIP: 06738EAV7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | RF                | GB        |   1000000 | PA      | $863950.00    | 0.85%             | 2047-01-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Regions Bank                                         | REGIONS BANK                             | CUSIP: 75913MAA7<br>LEI: EQTWLK1G7ODGC2MGLV11 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1036990.00   | 1.03%             | 2037-06-26      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| ASSURANT, INC.                                       | ASSURANT INC                             | CUSIP: 04621XAN8<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |    250000 | PA      | $185345.00    | 0.18%             | 2032-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                       | MORGAN STANLEY                           | CUSIP: 6174468Y8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $621020.00    | 0.61%             | 2052-01-25      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| JAB Holdings B.V.                                    | JAB HOLDINGS BV                          | CUSIP: 46653KAC2<br>LEI: 529900RRNKUM3INJGF98 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $169775.00    | 0.17%             | 2052-04-08      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Keybank National Association                         | KEY BANK NA                              | CUSIP: 49327V2B9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $445480.00    | 0.44%             | 2029-04-13      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                     | VIACOMCBS INC                            | CUSIP: 124857AT0<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    445000 | PA      | $394746.15    | 0.39%             | 2028-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPELINE, L.P.                   | PLAINS ALL AMERICAN PIPELINE LP          | CUSIP: 72650RBN1<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    500000 | PA      | $434695.00    | 0.43%             | 2030-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| THE HOME DEPOT, INC.                                 | HOME DEPOT INC THE                       | CUSIP: 437076CG5<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    600000 | PA      | $363078.00    | 0.36%             | 2051-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| MIDAMERICAN ENERGY COMPANY                           | MIDAMERICAN ENERGY CO                    | CUSIP: 595620AW5<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |    500000 | PA      | $321930.00    | 0.32%             | 2052-08-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC.                                    | CROWN CASTLE INTL CORP                   | CUSIP: 22822VAX9<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    250000 | PA      | $171475.00    | 0.17%             | 2041-04-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Xcel Energy Inc.                                     | XCEL ENERGY INC                          | CUSIP: 98388MAC1<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    500000 | PA      | $399035.00    | 0.39%             | 2031-11-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM, INC.                                     | AMAZON COM INC                           | CUSIP: 023135CA2<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    500000 | PA      | $373390.00    | 0.37%             | 2041-05-12      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CCL INDUSTRIES INC.                                  | CCL INDUSTRIES INC                       | CUSIP: 124900AB7<br>LEI: 549300TD3EMSRRC0YH75 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $453450.00    | 0.45%             | 2026-10-01      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                | OGLETHORPE POWER CORP                    | CUSIP: 677050AR7<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | DBT              | CORP              | US        |    312000 | PA      | $248208.48    | 0.25%             | 2047-04-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| AMFAM HOLDINGS, INC.                                 | AMFAM HOLDINGS INC                       | CUSIP: 03115AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $383310.00    | 0.38%             | 2031-03-11      | Fixed         | 2.81%                 | Yes           |                  2 | On Loan: No      |
| PHYSICIANS REALTY L.P.                               | PHYSICIANS REALTY LP                     | CUSIP: 71951QAC6<br>LEI: 549300P6Q1UMT0X60U20 | Long             | DBT              | CORP              | US        |    250000 | PA      | $194905.00    | 0.19%             | 2031-11-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Brookfield Finance Inc.                              | BROOKFIELD FINANCE INC                   | CUSIP: 11271LAH5<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $400180.00    | 0.40%             | 2031-04-15      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORPORATION                          | WESTPAC BANKING CORP                     | CUSIP: 961214DF7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    500000 | PA      | $468615.00    | 0.46%             | 2031-11-23      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORPORATION                                | MICROSOFT CORP                           | CUSIP: 594918CC6<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    250000 | PA      | $166602.50    | 0.16%             | 2050-06-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| FELLS POINT FUNDING TRUST                            | FELLS POINT FUNDING TRUST                | CUSIP: 314382AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $683085.00    | 0.68%             | 2027-01-31      | Fixed         | 3.05%                 | Yes           |                  2 | On Loan: No      |
| T-MOBILE USA, INC.                                   | T MOBILE USA INC                         | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $393200.00    | 0.39%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| HCA INC.                                             | HCA INC                                  | CUSIP: 404119CM9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     94000 | PA      | $75122.92     | 0.07%             | 2042-03-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| UNION ELECTRIC COMPANY                               | UNION ELECTRIC CO                        | CUSIP: 906548CT7<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |    500000 | PA      | $394935.00    | 0.39%             | 2032-03-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| BACARDI LIMITED                                      | BACARDI LTD                              | CUSIP: 067316AF6<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $480310.00    | 0.48%             | 2028-05-15      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| MICROSOFT CORPORATION                                | MICROSOFT CORP                           | CUSIP: 594918BS2<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    500000 | PA      | $443715.00    | 0.44%             | 2036-08-08      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP, L.P.                           | SIMON PROPERTY GROUP INC                 | CUSIP: 828807DQ7<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    250000 | PA      | $194600.00    | 0.19%             | 2032-01-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Group AG                               | CREDIT SUISSE GROUP AG                   | CUSIP: 225401AU2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    500000 | PA      | $347180.00    | 0.34%             | 2032-05-14      | Fixed         | 3.09%                 | Yes           |                  2 | On Loan: No      |
| METLIFE, INC.                                        | METLIFE INC                              | CUSIP: 59156RBD9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    500000 | PA      | $423985.00    | 0.42%             | 2042-08-13      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corporation              | BANK OF NEW YORK MELLON CORP THE         | CUSIP: 064058AH3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    250000 | PA      | $239505.00    | 0.24%             | 2199-12-31      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SkyMiles IP Ltd.                                     | DELTA AIR LINES SKYMILES                 | CUSIP: 830867AB3<br>LEI: 2549008L7P4I8VB90936 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $235477.50    | 0.23%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| ROCHE HOLDINGS, INC.                                 | ROCHE HOLDINGS INC                       | CUSIP: 771196BW1<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | DBT              | CORP              | US        |    500000 | PA      | $428085.00    | 0.42%             | 2028-12-13      | Fixed         | 1.93%                 | Yes           |                  2 | On Loan: No      |
| PHOENIX GROUP HOLDINGS PLC                           | PHOENIX GROUP HOLDINGS PLC               | CUSIP: N/A<br>LEI: 2138001P49OLAEU33T68       | Long             | DBT              | CORP              | GB        |    250000 | PA      | $235312.50    | 0.23%             | 2027-07-06      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Ferguson Finance Plc                                 | FERGUSON FINANCE PLC                     | CUSIP: 314890AD6<br>LEI: 2138003A7ZEU931DZL61 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $228150.00    | 0.23%             | 2032-04-20      | Fixed         | 4.65%                 | Yes           |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                   | ENERGY TRANSFER LP                       | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $217142.50    | 0.21%             | 2199-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES INCORPORATED                   | HUNTINGTON BANCSHARES INC OH             | CUSIP: 446150AX2<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    500000 | PA      | $361915.00    | 0.36%             | 2036-08-15      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS, INC.                | NEXTERA ENERGY CAPITAL HOLDINGS INC      | CUSIP: 65339KBX7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249002.50    | 0.25%             | 2023-11-03      | Floating      | 4.31%                 | No            |                  2 | On Loan: No      |
| IDEX CORPORATION                                     | IDEX CORP                                | CUSIP: 45167RAG9<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |    500000 | PA      | $430240.00    | 0.43%             | 2030-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRESENIUS MEDICAL CARE US FINANCE III, INC.          | FRESENIUS MED CARE III                   | CUSIP: 35805BAB4<br>LEI: 5299006ZHLMXOOUVTU44 | Long             | DBT              | CORP              | US        |    500000 | PA      | $366600.00    | 0.36%             | 2031-02-16      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL, INC.                         | MARRIOTT INTERNATIONAL                   | CUSIP: 571903BF9<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    500000 | PA      | $415610.00    | 0.41%             | 2032-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD INC.                        | ALIMENTATION COUCHE TARD                 | CUSIP: 01626PAM8<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $422500.00    | 0.42%             | 2030-01-25      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| ECOLAB INC.                                          | ECOLAB INC                               | CUSIP: 278865BN9<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    250000 | PA      | $156565.00    | 0.15%             | 2051-12-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| COMCAST CORPORATION                                  | COMCAST CORP                             | CUSIP: 20030NDR9<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $647170.00    | 0.64%             | 2051-11-01      | Fixed         | 2.89%                 | Yes           |                  2 | On Loan: No      |
| SODEXO, INC.                                         | SODEXO INC                               | CUSIP: 833794AB6<br>LEI: 549300WSZGQGJQXRFU84 | Long             | DBT              | CORP              | US        |    750000 | PA      | $593460.00    | 0.59%             | 2031-04-16      | Fixed         | 2.72%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Victory Portfolios II

**Signature:** Allan Shaer

**Name of Signer:** Allan Shaer

**Title:** Treasurer