# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001752724-25-157700
**Filing Date:** 2025-6
**Character Count:** 114491
**Document Hash:** 49d837e764375c1212333777fadf5525
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-157700.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-157700

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK FUNDS
- **CENTRAL INDEX KEY:** 0000844779

**ORGANIZATION NAME:**
- **EIN:** 510318674
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05742
- **FILM NUMBER:** 251076721

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COMPASS CAPITAL FUNDS\
- **DATE OF NAME CHANGE:** 19961114

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PNC FUND
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NCP FUNDS
- **DATE OF NAME CHANGE:** 19890511

## Series and Classes Contracts Data

### BlackRock Short Obligations Fund (Series ID: S000038550)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000119004 | Class K Shares       |  |
| C000129315 | Institutional Shares |  |
| C000198747 | Investor A Shares    |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Funds

- **b. Investment Company Act file number:** 811-05742

- **c. CIK number of Registrant:** 0000844779

- **d. LEI of Registrant:** 549300OZUEVJZHOBFP42

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Short Obligations Fund

- **b. EDGAR series identifier (if any):** S000038550

- **c. LEI of Series:** 549300XULCSJN4492O72

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1233481749.83

**Total Liabilities:** $13189399.66

**Net Assets:** $1220292350.17

**Cash Not Reported:** $14817.73

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 15428.24000000 | **1-Year:** 42848.06000000 | **5-Year:** 18319.54000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000198747 | 0.33%                | 0.46%                | 0.25%                |
| Class ID C000129315 | 0.34%                | 0.38%                | 0.37%                |
| Class ID C000119004 | 0.35%                | 0.39%                | 0.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $608581.16                                 |
| Month 2  | $16.28                   | $-5105.88                                  |
| Month 3  | $266578.68               | $-377079.79                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                               | Title                                                                | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bank of Montreal, Chicago                          | Bank of Montreal, Chicago                                            | CUSIP: 06367DKQ7<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | STIV             | CORP              | CA        |   9000000 | PA      | $9009398.70   | 0.74%             | 2025-06-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                             | Extra Space Storage LP                                               | CUSIP: 30227PSV1<br>LEI: 549300YNKSKNZFR8UC42 | Long             | STIV             | CORP              | US        |   9250000 | PA      | $9214557.70   | 0.76%             | 2025-05-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Banking Corp.                      | Sumitomo Mitsui Banking Corp., New York                              | CUSIP: 86565GGY0<br>LEI: 549300MS3WYYVQ4HXM15 | Long             | STIV             | CORP              | JP        |   8190000 | PA      | $8189796.07   | 0.67%             | 2025-06-09      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust            | Hyundai Auto Lease Securitization Trust, Series 2024-B, Class A2B    | CUSIP: 44934FAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    968920 | PA      | $968514.85    | 0.08%             | 2026-10-15      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                    | Nordea Bank Abp                                                      | CUSIP: 65558RAA7<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   4425000 | PA      | $4419252.94   | 0.36%             | 2025-06-06      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| MassMutual Global Funding II                       | MassMutual Global Funding II                                         | CUSIP: 57629TBW6<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |   5448000 | PA      | $5489514.30   | 0.45%             | 2028-03-27      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                           | Svenska Handelsbanken AB                                             | CUSIP: 86959LAJ2<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |   6600000 | PA      | $6593531.74   | 0.54%             | 2025-06-10      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                           | John Deere Capital Corp.                                             | CUSIP: 24422EXV6<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1170830.07   | 0.10%             | 2027-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Fiserv, Inc.                                       | Fiserv, Inc.                                                         | CUSIP: 33774KS50<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | STIV             | CORP              | US        |  10000000 | PA      | $9993605.00   | 0.82%             | 2025-05-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                             | Keurig Dr Pepper, Inc.                                               | CUSIP: 49271JSD0<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | STIV             | CORP              | US        |   3500000 | PA      | $3494175.65   | 0.29%             | 2025-05-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Principal Life Global Funding II                   | Principal Life Global Funding II                                     | CUSIP: 74256LFA2<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |   2910000 | PA      | $2926542.59   | 0.24%             | 2027-08-19      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BofA Securities, Inc.                              | BofA Securities, Inc.                                                | CUSIP: 06054NT68<br>LEI: 549300HN4UKV1E2R3U73 | Long             | STIV             | CORP              | US        |   5250000 | PA      | $5226220.65   | 0.43%             | 2025-06-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                             | Goldman Sachs Bank USA                                               | CUSIP: 38151LAE0<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3141800.71   | 0.26%             | 2027-03-18      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                  | Lowe's Cos., Inc.                                                    | CUSIP: 548661EP8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1760000 | PA      | $1763550.47   | 0.14%             | 2026-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                             | Home Depot, Inc. (The)                                               | CUSIP: 437076CZ3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2936385.34   | 0.24%             | 2026-06-25      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital Services, Inc.                     | Hyundai Capital Services, Inc.                                       | CUSIP: 44920UAX6<br>LEI: 549300MALMDAGL2ZJJ27 | Long             | DBT              | CORP              | KR        |   5790000 | PA      | $5877296.35   | 0.48%             | 2028-01-22      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nestle Holdings, Inc.                              | Nestle Holdings, Inc.                                                | CUSIP: 641062BA1<br>LEI: 549300EAEU8YV8MQXP30 | Long             | DBT              | CORP              | US        |   6200000 | PA      | $6189040.76   | 0.51%             | 2025-09-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                           | Cooperatieve Rabobank UA                                             | CUSIP: 21688ABK7<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   5610000 | PA      | $5724450.17   | 0.47%             | 2028-01-21      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                           | John Deere Capital Corp.                                             | CUSIP: 24422EXY0<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   2780000 | PA      | $2803688.21   | 0.23%             | 2027-01-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                             | Waste Management, Inc.                                               | CUSIP: 94107MSD9<br>LEI: 549300YX8JIID70NFS41 | Long             | STIV             | CORP              | US        |   2500000 | PA      | $2495839.75   | 0.20%             | 2025-05-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                | Macquarie Bank Ltd.                                                  | CUSIP: 55607LAD6<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | AU        |   3110000 | PA      | $3016626.60   | 0.25%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co. LP                        | Penske Truck Leasing Co. LP                                          | CUSIP: 70962ASC1<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |   3200000 | PA      | $3194975.68   | 0.26%             | 2025-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                     | BNP Paribas SA                                                       | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | RA               | CORP              | FR        |   8250000 | PA      | $8250000.00   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                              | Bank of America Corp.                                                | CUSIP: N/A<br>LEI: 9DJT3UXIJIZJI4WXO774       | Long             | STIV             | CORP              | US        |   6060000 | PA      | $6053846.37   | 0.50%             | 2026-04-02      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| Advanced Micro Devices, Inc.                       | Advanced Micro Devices, Inc.                                         | CUSIP: 007903BH9<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |   3040000 | PA      | $3052739.30   | 0.25%             | 2026-09-24      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| HSBC USA, Inc.                                     | HSBC USA, Inc.                                                       | CUSIP: 40434RB35<br>LEI: 549300LBOHZ4QSIWU288 | Long             | STIV             | CORP              | US        |   7800000 | PA      | $7543774.68   | 0.62%             | 2026-02-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.              | NextEra Energy Capital Holdings, Inc.                                | CUSIP: 65339KDG2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2235000 | PA      | $2270405.28   | 0.19%             | 2028-02-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                           | Bristol-Myers Squibb Co.                                             | CUSIP: 110122EM6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   2055000 | PA      | $2054833.40   | 0.17%             | 2026-02-20      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp.                                    | Starbucks Corp.                                                      | CUSIP: 855244BG3<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |   3130000 | PA      | $3156748.04   | 0.26%             | 2027-02-08      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| NatWest Markets plc                                | NatWest Markets plc                                                  | CUSIP: 63906YAM0<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |   4220000 | PA      | $4248543.87   | 0.35%             | 2028-03-21      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                | Macquarie Bank Ltd.                                                  | CUSIP: 55608PBQ6<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |   1990000 | PA      | $2024970.11   | 0.17%             | 2026-12-07      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Western Union Co. (The)                            | Western Union Co. (The)                                              | CUSIP: 95980GS17<br>LEI: 28ID94QU1140NC23S047 | Long             | STIV             | CORP              | US        |   7750000 | PA      | $7749011.10   | 0.64%             | 2025-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                  | Wells Fargo & Co., Series W                                          | CUSIP: 95000U3R2<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2010000 | PA      | $2023380.07   | 0.17%             | 2028-01-24      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                      | State Street Bank & Trust Co.                                        | CUSIP: 857449AD4<br>LEI: 571474TGEMMWANRLN572 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1133801.84   | 0.09%             | 2026-11-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                            | Standard Chartered Bank, New York                                    | CUSIP: 85325VQE3<br>LEI: RILFO74KP1CM8P6PCT96 | Long             | STIV             | CORP              | GB        |   5000000 | PA      | $4999921.00   | 0.41%             | 2025-09-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                             | Northrop Grumman Corp.                                               | CUSIP: 66681LS84<br>LEI: RIMU48P07456QXSO0R61 | Long             | STIV             | CORP              | US        |   5500000 | PA      | $5494398.25   | 0.45%             | 2025-05-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Securities USA LLC                          | Mizuho Securities USA LLC                                            | CUSIP: N/A<br>LEI: 7TK5RJIZDFROZCA6XF66       | Long             | RA               | CORP              | US        |   3500000 | PA      | $3500000.00   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Swedbank AB                                        | Swedbank AB                                                          | CUSIP: 87020YCZ9<br>LEI: M312WZV08Y7LYUC71685 | Long             | STIV             | CORP              | SE        |   5800000 | PA      | $5802789.80   | 0.48%             | 2025-10-01      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                   | Deutsche Bank AG                                                     | CUSIP: 251526CQ0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   3900000 | PA      | $3899147.03   | 0.32%             | 2025-05-13      | Fixed         | 4.16%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Lease Trust                            | BMW Vehicle Lease Trust, Series 2024-1, Class A2B                    | CUSIP: 05611UAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    428759 | PA      | $428758.67    | 0.04%             | 2026-07-27      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| NiSource, Inc.                                     | NiSource, Inc.                                                       | CUSIP: 65478JS21<br>LEI: 549300D8GOWWH0SJB189 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1999492.40   | 0.16%             | 2025-05-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij NV               | Siemens Financieringsmaatschappij NV                                 | CUSIP: 826200AD9<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |   8750000 | PA      | $8967778.05   | 0.73%             | 2026-08-17      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Accenture Capital, Inc.                            | Accenture Capital, Inc.                                              | CUSIP: 00440KAA1<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |   2015000 | PA      | $2012999.85   | 0.16%             | 2027-10-04      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                          | RTX Corp.                                                            | CUSIP: 75513ECQ2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1595000 | PA      | $1601279.55   | 0.13%             | 2026-02-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BofA Securities, Inc.                              | BofA Securities, Inc.                                                | CUSIP: 06054NTH4<br>LEI: 549300HN4UKV1E2R3U73 | Long             | STIV             | CORP              | US        |   4000000 | PA      | $3976426.80   | 0.33%             | 2025-06-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp.              | International Business Machines Corp.                                | CUSIP: 459200JZ5<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |   6070000 | PA      | $6002236.46   | 0.49%             | 2026-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Taxable Municipal Funding Trust                    | Taxable Municipal Funding Trust, Series 2020-11                      | CUSIP: 62630WEL7<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   1120000 | PA      | $1120000.00   | 0.09%             | 2030-09-01      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC            | Daimler Truck Finance North America LLC                              | CUSIP: 233853BC3<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   1775000 | PA      | $1788751.23   | 0.15%             | 2028-01-13      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                  | State of Illinois, Series 2023A                                      | CUSIP: 452153GQ6<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1485012.80   | 0.12%             | 2025-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                             | Extra Space Storage LP                                               | CUSIP: 30227PS17<br>LEI: 549300YNKSKNZFR8UC42 | Long             | STIV             | CORP              | US        |   5340000 | PA      | $5339311.14   | 0.44%             | 2025-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Owner Trust                            | BMW Vehicle Owner Trust, Series 2024-A, Class A2B                    | CUSIP: 096919AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    910553 | PA      | $910315.17    | 0.07%             | 2027-02-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Trust & Banking Corp.               | Mitsubishi UFJ Trust & Banking Corp.                                 | CUSIP: 60683DW54<br>LEI: JBONEPAGQXF4QP29B387 | Long             | STIV             | CORP              | JP        |   5610000 | PA      | $5609516.42   | 0.46%             | 2025-09-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| Salisbury Receivables Co. LLC                      | Salisbury Receivables Co. LLC                                        | CUSIP: 79490AV13<br>LEI: 549300HB2PGDP0V6U989 | Long             | STIV             | CORP              | US        |  11380000 | PA      | $11251602.87  | 0.92%             | 2025-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                               | JPMorgan Chase & Co.                                                 | CUSIP: 46647PCB0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3888519.40   | 0.32%             | 2027-04-22      | Variable      | 1.58%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                       | American Honda Finance Corp.                                         | CUSIP: 02665JSN1<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2991546.00   | 0.25%             | 2025-05-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| National Securities Clearing Corp.                 | National Securities Clearing Corp.                                   | CUSIP: 637639AJ4<br>LEI: 549300RYC9NELN2ICA34 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1230526.92   | 0.10%             | 2025-05-30      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                                        | PNC Bank NA                                                          | CUSIP: 69353RFW3<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   2765000 | PA      | $2762005.51   | 0.23%             | 2027-01-15      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank NA                             | Morgan Stanley Bank NA                                               | CUSIP: 61690U8F0<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |   8770000 | PA      | $8736701.63   | 0.72%             | 2027-10-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                       | National Australia Bank Ltd.                                         | CUSIP: 63253QAF1<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |   2160000 | PA      | $2164106.27   | 0.18%             | 2025-12-10      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| American Express Credit Account Master Trust       | American Express Credit Account Master Trust, Series 2022-4, Class A | CUSIP: 02582JJX9<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5009371.50   | 0.41%             | 2027-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BMW US Capital LLC                                 | BMW US Capital LLC                                                   | CUSIP: 05565ECN3<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |   2770000 | PA      | $2773457.10   | 0.23%             | 2026-08-13      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                        | Citibank NA                                                          | CUSIP: 17325FBM9<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   8450000 | PA      | $8455239.00   | 0.69%             | 2027-11-19      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                  | CUSIP: 91282CJB8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $3009187.50   | 0.25%             | 2025-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NBN Co. Ltd.                                       | NBN Co. Ltd.                                                         | CUSIP: 62878U2H4<br>LEI: 2549007CRZ2NT7S96A24 | Long             | DBT              | NUSS              | AU        |   5925000 | PA      | $5893863.77   | 0.48%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole Corporate & Investment Bank SA     | Credit Agricole Corporate & Investment Bank SA, New York             | CUSIP: 22536HDT3<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | FR        |   3840000 | PA      | $3843317.38   | 0.31%             | 2025-06-02      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Finance North America LLC            | Mercedes-Benz Finance North America LLC                              | CUSIP: 58769JAT4<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   2840000 | PA      | $2854315.02   | 0.23%             | 2026-07-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                             | Home Depot, Inc. (The)                                               | CUSIP: 437076CR1<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1906751.15   | 0.16%             | 2025-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CDP Financial, Inc.                                | CDP Financial, Inc.                                                  | CUSIP: 125094BB7<br>LEI: 549300OXMGVYFCBFV096 | Long             | DBT              | NUSS              | CA        |   2523000 | PA      | $2528976.18   | 0.21%             | 2026-02-13      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Marubeni Finance America LLC                       | Marubeni Finance America LLC                                         | CUSIP: 57382ESP3<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  10350000 | PA      | $10318685.04  | 0.85%             | 2025-05-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                          | Toyota Motor Credit Corp.                                            | CUSIP: 89236TMR3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   2950000 | PA      | $2946814.00   | 0.24%             | 2026-04-10      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                              | Athene Global Funding                                                | CUSIP: 04685A4M0<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |  11065000 | PA      | $11006169.05  | 0.90%             | 2028-03-06      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| New York Life Global Funding                       | New York Life Global Funding                                         | CUSIP: 64953BBC1<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   3700000 | PA      | $3701872.83   | 0.30%             | 2025-06-13      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Protective Life Global Funding                     | Protective Life Global Funding                                       | CUSIP: 74368CBX1<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3186352.86   | 0.26%             | 2027-01-12      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                          | Rio Tinto Finance USA plc                                            | CUSIP: 76720AAQ9<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   1040000 | PA      | $1045221.30   | 0.09%             | 2027-03-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| American Express Co.                               | American Express Co.                                                 | CUSIP: 025816DS5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   3050000 | PA      | $3052162.45   | 0.25%             | 2027-04-23      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Lloyds Bank Corporate Markets plc                  | Lloyds Bank Corporate Markets plc, New York                          | CUSIP: 53947B2A7<br>LEI: 213800MBWEIJDM5CU638 | Long             | STIV             | CORP              | GB        |   4750000 | PA      | $4755919.93   | 0.39%             | 2025-07-25      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                              | CUSIP: 44891ADA2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2005000 | PA      | $2022483.08   | 0.17%             | 2026-06-24      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HSBC USA, Inc.                                     | HSBC USA, Inc.                                                       | CUSIP: 40434PT63<br>LEI: 549300LBOHZ4QSIWU288 | Long             | STIV             | CORP              | US        |   2445000 | PA      | $2433823.42   | 0.20%             | 2025-06-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Northwestern Mutual Global Funding                 | Northwestern Mutual Global Funding                                   | CUSIP: 66815L2V0<br>LEI: 635400LZXFVELZDVP257 | Long             | DBT              | CORP              | US        |   3940000 | PA      | $3965041.02   | 0.32%             | 2028-03-21      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                       | National Australia Bank Ltd.                                         | CUSIP: 632525BP5<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |   5150000 | PA      | $5148109.33   | 0.42%             | 2026-01-29      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Aquitaine Funding Co. LLC                          | Aquitaine Funding Co. LLC                                            | CUSIP: 03843LSN9<br>LEI: 549300RM1I17W1XLUM92 | Long             | STIV             | CORP              | US        |   4560000 | PA      | $4547696.21   | 0.37%             | 2025-05-22      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| USAA Auto Owner Trust                              | USAA Auto Owner Trust, Series 2024-A, Class A2                       | CUSIP: 90327VAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1299264 | PA      | $1301463.82   | 0.11%             | 2027-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                       | American Honda Finance Corp.                                         | CUSIP: 02665JT42<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | STIV             | CORP              | US        |   8000000 | PA      | $7963600.00   | 0.65%             | 2025-06-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Pacific Life Global Funding II                     | Pacific Life Global Funding II                                       | CUSIP: 6944PL3G2<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |   6635000 | PA      | $6617032.42   | 0.54%             | 2027-02-04      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| MassMutual Global Funding II                       | MassMutual Global Funding II                                         | CUSIP: 57629WDK3<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |   2238000 | PA      | $2235192.68   | 0.18%             | 2025-08-26      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Securities LLC                         | Wells Fargo Securities LLC                                           | CUSIP: N/A<br>LEI: VYVVCKR63DVZZN70PB21       | Long             | RA               | CORP              | US        |  12500000 | PA      | $12500000.00  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizuho Bank Ltd.                                   | Mizuho Bank Ltd.                                                     | CUSIP: 60710TE49<br>LEI: RB0PEZSDGCO3JS6CEU02 | Long             | STIV             | CORP              | JP        |   8750000 | PA      | $8746772.13   | 0.72%             | 2026-02-18      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC            | Volkswagen Group of America Finance LLC                              | CUSIP: 928668CD2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   3140000 | PA      | $3139466.20   | 0.26%             | 2026-03-20      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                 | Honda Auto Receivables Owner Trust, Series 2024-1, Class A2          | CUSIP: 437918AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1192653 | PA      | $1193722.27   | 0.10%             | 2026-09-15      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| PPG Industries, Inc.                               | PPG Industries, Inc.                                                 | CUSIP: 69350ASC3<br>LEI: 549300BKPEP01R3V6C59 | Long             | STIV             | CORP              | US        |   2100000 | PA      | $2096776.29   | 0.17%             | 2025-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                             | Waste Management, Inc.                                               | CUSIP: 94107MSK3<br>LEI: 549300YX8JIID70NFS41 | Long             | STIV             | CORP              | US        |   2750000 | PA      | $2743285.05   | 0.22%             | 2025-05-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                 | Honda Auto Receivables Owner Trust, Series 2023-2, Class A2          | CUSIP: 437927AB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     58592 | PA      | $58615.46     | 0.00%             | 2026-04-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Paradelle Funding LLC                              | Paradelle Funding LLC                                                | CUSIP: 69901MWQ5<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   6770000 | PA      | $6650439.09   | 0.54%             | 2025-09-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                             | Keurig Dr Pepper, Inc.                                               | CUSIP: 49271JS81<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | STIV             | CORP              | US        |   8240000 | PA      | $8231589.43   | 0.67%             | 2025-05-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                          | Toyota Motor Credit Corp.                                            | CUSIP: 89236TMD4<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   2975000 | PA      | $3004272.39   | 0.25%             | 2026-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CNH Equipment Trust                                | CNH Equipment Trust, Series 2024-B, Class A2A                        | CUSIP: 18978JAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    966617 | PA      | $968778.79    | 0.08%             | 2027-10-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Finance North America LLC            | Mercedes-Benz Finance North America LLC                              | CUSIP: 58769JAJ6<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   3330000 | PA      | $3333455.24   | 0.27%             | 2025-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                     | Morgan Stanley                                                       | CUSIP: 61747YET8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1839524.58   | 0.15%             | 2026-07-17      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| TWDC Enterprises 18 Corp.                          | TWDC Enterprises 18 Corp.                                            | CUSIP: 25468PDV5<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |   6040000 | PA      | $5915349.74   | 0.48%             | 2027-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.              | Sumitomo Mitsui Financial Group, Inc.                                | CUSIP: 86562MCT5<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   4800000 | PA      | $4831959.41   | 0.40%             | 2026-01-13      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Wisconsin Public Service Corp.                     | Wisconsin Public Service Corp.                                       | CUSIP: 976843BP6<br>LEI: 549300BJRHJVYNUMQZ30 | Long             | DBT              | CORP              | US        |   2720000 | PA      | $2731967.21   | 0.22%             | 2025-11-10      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                           | UnitedHealth Group, Inc.                                             | CUSIP: 91324PFF4<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    850000 | PA      | $856454.43    | 0.07%             | 2026-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                             | Goldman Sachs Bank USA                                               | CUSIP: 38151LAF7<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3171098.13   | 0.26%             | 2027-03-18      | Variable      | 5.28%                 | No            |                  2 | On Loan: No      |
| Paradelle Funding LLC                              | Paradelle Funding LLC                                                | CUSIP: 69901MT63<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  12530000 | PA      | $12473533.56  | 1.02%             | 2025-06-06      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                               | Royal Bank of Canada, New York                                       | CUSIP: 78015JWX1<br>LEI: 549300HXQQQCCUBS2Z23 | Long             | STIV             | CORP              | CA        |   8840000 | PA      | $8842276.30   | 0.72%             | 2025-10-07      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | CarMax Auto Owner Trust, Series 2023-3, Class A2B                    | CUSIP: 14319BAH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    244856 | PA      | $244904.54    | 0.02%             | 2026-11-16      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank                              | Toronto-Dominion Bank                                                | CUSIP: 89115DRT5<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | CA        |   4710000 | PA      | $4705345.11   | 0.39%             | 2026-03-20      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                     | Commonwealth Bank of Australia                                       | CUSIP: 20271RAV2<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |   3035000 | PA      | $3063466.78   | 0.25%             | 2028-03-14      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Credit Agricole Corporate & Investment Bank SA     | Credit Agricole Corporate & Investment Bank SA, New York             | CUSIP: 22536HVZ9<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | FR        |   3000000 | PA      | $2998781.70   | 0.25%             | 2025-10-07      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Norfina Ltd.                                       | Norfina Ltd.                                                         | CUSIP: 86724AW80<br>LEI: JEBU6C6ITPD2YZ9N7F22 | Long             | STIV             | CORP              | AU        |   2800000 | PA      | $2755897.48   | 0.23%             | 2025-09-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                     | Morgan Stanley                                                       | CUSIP: 61746BEF9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8916646.50   | 0.73%             | 2027-01-20      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                          | Toyota Motor Credit Corp., Series B                                  | CUSIP: 89236TMM4<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   8470000 | PA      | $8469661.20   | 0.69%             | 2025-09-17      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| UBS AG                                             | UBS AG                                                               | CUSIP: 90275DUR9<br>LEI: 254900R882POXXVAK772 | Long             | STIV             | CORP              | CH        |   5000000 | PA      | $5000356.50   | 0.41%             | 2025-11-03      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                   | Bank of Montreal, Chicago                                            | CUSIP: 06370B2P8<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | STIV             | CORP              | CA        |   5610000 | PA      | $5611480.48   | 0.46%             | 2025-11-17      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| National Bank of Canada                            | National Bank of Canada                                              | CUSIP: 63307LSP7<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | STIV             | CORP              | CA        |   5680000 | PA      | $5664236.30   | 0.46%             | 2025-05-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| eBay, Inc.                                         | eBay, Inc.                                                           | CUSIP: 278642BC6<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5531407.75   | 0.45%             | 2025-11-22      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                  | CUSIP: 91282CHN4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6220000 | PA      | $6226220.00   | 0.51%             | 2025-07-31      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PayPal Holdings, Inc.                              | PayPal Holdings, Inc.                                                | CUSIP: 70450YAS2<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |   1305000 | PA      | $1319437.74   | 0.11%             | 2028-03-06      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                          | Toyota Motor Credit Corp.                                            | CUSIP: 89236TND3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   5850000 | PA      | $5838101.33   | 0.48%             | 2026-02-24      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.               | Mitsubishi UFJ Financial Group, Inc.                                 | CUSIP: 606822BS2<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   6310000 | PA      | $6267010.73   | 0.51%             | 2025-07-17      | Fixed         | 1.41%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                              | Westpac Banking Corp.                                                | CUSIP: 9612C47A3<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | STIV             | CORP              | AU        |   3290000 | PA      | $3288339.21   | 0.27%             | 2025-12-18      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.              | NextEra Energy Capital Holdings, Inc.                                | CUSIP: 65339KCR9<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   3130000 | PA      | $3131550.92   | 0.26%             | 2026-01-29      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Banking Corp.                      | Sumitomo Mitsui Banking Corp., New York                              | CUSIP: 86565GGB0<br>LEI: 549300MS3WYYVQ4HXM15 | Long             | STIV             | CORP              | JP        |   4300000 | PA      | $4300160.39   | 0.35%             | 2025-05-12      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                     | Broadcom, Inc.                                                       | CUSIP: 11135MSL1<br>LEI: 549300WV6GIDOZJTV909 | Long             | STIV             | CORP              | US        |   9370000 | PA      | $9345814.16   | 0.77%             | 2025-05-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Salisbury Receivables Co. LLC                      | Salisbury Receivables Co. LLC                                        | CUSIP: 79490AY36<br>LEI: 549300HB2PGDP0V6U989 | Long             | STIV             | CORP              | US        |   7790000 | PA      | $7607098.59   | 0.62%             | 2025-11-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                              | CUSIP: 44891ADJ3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2965000 | PA      | $2938315.00   | 0.24%             | 2027-09-24      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Vulcan Materials Co.                               | Vulcan Materials Co.                                                 | CUSIP: 92919TSL8<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | STIV             | CORP              | US        |   3960000 | PA      | $3949798.64   | 0.32%             | 2025-05-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | CarMax Auto Owner Trust, Series 2023-4, Class A2A                    | CUSIP: 14318XAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    518961 | PA      | $519906.70    | 0.04%             | 2026-12-15      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                | Societe Generale SA                                                  | CUSIP: 83368RBN1<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   5000000 | PA      | $4996621.50   | 0.41%             | 2025-06-13      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                 | Canadian Imperial Bank of Commerce, New York                         | CUSIP: 13606DAY8<br>LEI: 549300H8L46OOZOFHU82 | Long             | STIV             | CORP              | CA        |   5900000 | PA      | $5900657.85   | 0.48%             | 2025-10-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA                                | Wells Fargo Bank NA                                                  | CUSIP: 94988J6H5<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3159126.56   | 0.26%             | 2026-01-15      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA              | Banque Federative du Credit Mutuel SA                                | CUSIP: 06675FAZ0<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   4800000 | PA      | $4814220.62   | 0.39%             | 2026-01-26      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group, Inc.                             | WEC Energy Group, Inc.                                               | CUSIP: 92939UAH9<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |   2560000 | PA      | $2560666.29   | 0.21%             | 2025-09-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                  | CUSIP: 91282CLS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13355000 | PA      | $13431165.17  | 1.10%             | 2026-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                 | Canadian Imperial Bank of Commerce, New York                         | CUSIP: 13606DFC1<br>LEI: 549300H8L46OOZOFHU82 | Long             | STIV             | CORP              | CA        |   3000000 | PA      | $2999261.10   | 0.25%             | 2026-02-06      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Spire, Inc.                                        | Spire, Inc.                                                          | CUSIP: 84858MSD1<br>LEI: 549300NXSY15DRY2R511 | Long             | STIV             | CORP              | US        |   8000000 | PA      | $7986680.00   | 0.65%             | 2025-05-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                    | Danske Bank A/S                                                      | CUSIP: 23636RAF1<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | STIV             | CORP              | DK        |   7000000 | PA      | $6788789.70   | 0.56%             | 2026-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust            | Hyundai Auto Lease Securitization Trust, Series 2024-B, Class A2A    | CUSIP: 44934FAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1997601 | PA      | $2002048.91   | 0.16%             | 2026-10-15      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Atlantic Asset Securitization LLC                  | Atlantic Asset Securitization LLC                                    | CUSIP: 04821TXW0<br>LEI: 549300BUNY5BIX4CVW20 | Long             | STIV             | CORP              | US        |   3500000 | PA      | $3423140.00   | 0.28%             | 2025-10-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                              | Athene Global Funding                                                | CUSIP: 04685A4J7<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   3810000 | PA      | $3801633.62   | 0.31%             | 2026-07-16      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Ionic Funding LLC                                  | Ionic Funding LLC                                                    | CUSIP: 46224KSM1<br>LEI: 2549003T8ZP164671925 | Long             | STIV             | CORP              | US        |  15340000 | PA      | $15300428.94  | 1.25%             | 2025-05-21      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                     | Commonwealth Bank of Australia                                       | CUSIP: 2027A0KV0<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |   2770000 | PA      | $2768307.53   | 0.23%             | 2026-11-27      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Waste Management, Inc.                             | Waste Management, Inc.                                               | CUSIP: 94106LBX6<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |   2155000 | PA      | $2195217.11   | 0.18%             | 2027-07-03      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                     | BNP Paribas SA                                                       | CUSIP: 05593DEY5<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | STIV             | CORP              | FR        |  11840000 | PA      | $11835674.85  | 0.97%             | 2025-11-20      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets, Inc.                     | Citigroup Global Markets, Inc.                                       | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Long             | RA               | CORP              | US        |   6000000 | PA      | $6000000.00   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| ASB Bank Ltd.                                      | ASB Bank Ltd.                                                        | CUSIP: 00216LAG8<br>LEI: 549300IBZWZL1KTPF918 | Long             | DBT              | CORP              | NZ        |   2925000 | PA      | $2962195.03   | 0.24%             | 2026-06-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Pacific Life Global Funding II                     | Pacific Life Global Funding II                                       | CUSIP: 6944PL3E7<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4969435.20   | 0.41%             | 2028-01-27      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.         | Australia & New Zealand Banking Group Ltd.                           | CUSIP: 05253ATS9<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | STIV             | CORP              | AU        |   9000000 | PA      | $8938454.40   | 0.73%             | 2025-06-26      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                   | Bank of Montreal                                                     | CUSIP: 06367L2H9<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | STIV             | CORP              | CA        |  10000000 | PA      | $10001513.50  | 0.82%             | 2025-09-11      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| BofA Securities, Inc.                              | BofA Securities, Inc.                                                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Finance North America LLC            | Mercedes-Benz Finance North America LLC                              | CUSIP: 58769JAP2<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3159822.83   | 0.26%             | 2026-01-09      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Walmart, Inc.                                      | Walmart, Inc.                                                        | CUSIP: 931142EW9<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6985999.65   | 0.57%             | 2025-09-09      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Pacific Life Global Funding II                     | Pacific Life Global Funding II                                       | CUSIP: 6944PL2T5<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |   3515000 | PA      | $3517011.28   | 0.29%             | 2025-06-16      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Lease Trust                       | Ford Credit Auto Lease Trust, Series 2024-B, Class A2A               | CUSIP: 345279AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    683363 | PA      | $684595.91    | 0.06%             | 2027-02-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corp.                             | General Dynamics Corp.                                               | CUSIP: 369550BL1<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |   1970000 | PA      | $1955023.84   | 0.16%             | 2027-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                  | CUSIP: 91282CHV6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3020000 | PA      | $3025780.46   | 0.25%             | 2025-08-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                    | Nordea Bank Abp                                                      | CUSIP: 65558RAG4<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   3150000 | PA      | $3197408.95   | 0.26%             | 2027-03-19      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KeyBank NA                                         | KeyBank NA                                                           | CUSIP: 49327M3E2<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $2046005.58   | 0.17%             | 2025-08-08      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Credit Agricole Corporate & Investment Bank SA     | Credit Agricole Corporate & Investment Bank SA, New York             | CUSIP: 22532XZF8<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | FR        |   5000000 | PA      | $5001412.50   | 0.41%             | 2025-06-20      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Chase Issuance Trust                               | Chase Issuance Trust, Series 2022-A1, Class A                        | CUSIP: 161571HS6<br>LEI: 5493008SHVCX2Y068L12 | Long             | ABS-O            | CORP              | US        |   4700000 | PA      | $4688485.47   | 0.38%             | 2027-09-15      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank Ltd.                    | Sumitomo Mitsui Trust Bank Ltd.                                      | CUSIP: 86563VBT5<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | CORP              | JP        |   2770000 | PA      | $2779372.38   | 0.23%             | 2027-09-10      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                              | CUSIP: 44891ADP9<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   3030000 | PA      | $3033580.19   | 0.25%             | 2027-03-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Nationwide Building Society                        | Nationwide Building Society                                          | CUSIP: 63859UBH5<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   8900000 | PA      | $8550030.73   | 0.70%             | 2026-10-13      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Stryker Corp.                                      | Stryker Corp.                                                        | CUSIP: 863667BJ9<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |   5935000 | PA      | $5965094.31   | 0.49%             | 2027-02-10      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                              | Bank of America Corp.                                                | CUSIP: 06051GFX2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   6380000 | PA      | $6327637.30   | 0.52%             | 2026-04-19      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner Trust                | Toyota Auto Receivables Owner Trust, Series 2024-A, Class A2B        | CUSIP: 89238DAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1478145 | PA      | $1478086.29   | 0.12%             | 2026-12-15      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp.                              | Lockheed Martin Corp.                                                | CUSIP: 539830BU2<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |   2220000 | PA      | $2224233.81   | 0.18%             | 2025-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                          | RTX Corp.                                                            | CUSIP: 78109FSK9<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | STIV             | CORP              | US        |  15360000 | PA      | $15322251.26  | 1.26%             | 2025-05-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                       | Ford Credit Auto Owner Trust, Series 2024-A, Class A2A               | CUSIP: 34535EAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    983247 | PA      | $984815.50    | 0.08%             | 2027-01-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| VW Credit, Inc.                                    | VW Credit, Inc.                                                      | CUSIP: 91842JS83<br>LEI: 549300UUPJ2NXDB68M19 | Long             | STIV             | CORP              | US        |  11500000 | PA      | $11488082.55  | 0.94%             | 2025-05-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Illinois Tool Works, Inc.                          | Illinois Tool Works, Inc.                                            | CUSIP: 4523ELST3<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2990218.50   | 0.25%             | 2025-05-27      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                             | Northrop Grumman Corp.                                               | CUSIP: 66681LSU5<br>LEI: RIMU48P07456QXSO0R61 | Long             | STIV             | CORP              | US        |   5500000 | PA      | $5480134.55   | 0.45%             | 2025-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                     | Hyundai Auto Receivables Trust, Series 2024-B, Class A2B             | CUSIP: 44934QAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1293563 | PA      | $1292991.37   | 0.11%             | 2027-06-15      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                       | American Honda Finance Corp.                                         | CUSIP: 02665WFB2<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   3130000 | PA      | $3130724.19   | 0.26%             | 2025-08-14      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                        | Citibank NA                                                          | CUSIP: 17330QGW1<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | STIV             | CORP              | US        |   6000000 | PA      | $6001897.80   | 0.49%             | 2025-09-19      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                  | Lowe's Cos., Inc.                                                    | CUSIP: 548661EK9<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   4150000 | PA      | $4146626.76   | 0.34%             | 2025-09-08      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                          | BlackRock Liquidity Funds, T-Fund, Institutional Class               | CUSIP: 09248U718<br>LEI: 5493002L9DNZ83RX7V61 | Long             | STIV             | RF                | US        |    154515 | NS      | $154514.65    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank Credit Card Issuance Trust                | Citibank Credit Card Issuance Trust, Series 2023-A1, Class A1        | CUSIP: 17305EGW9<br>LEI: R8AG6FXVDQAMDKCSJJ64 | Long             | ABS-O            | CORP              | US        |   1379000 | PA      | $1384600.53   | 0.11%             | 2027-12-08      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd.                                       | Nutrien Ltd.                                                         | CUSIP: 67077US19<br>LEI: 5493002QQ7GD21OWF963 | Long             | STIV             | CORP              | CA        |   1500000 | PA      | $1499807.85   | 0.12%             | 2025-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Spire, Inc.                                        | Spire, Inc.                                                          | CUSIP: 84858MSK5<br>LEI: 549300NXSY15DRY2R511 | Long             | STIV             | CORP              | US        |   1005000 | PA      | $1002543.28   | 0.08%             | 2025-05-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Securities USA LLC                          | Mizuho Securities USA LLC                                            | CUSIP: N/A<br>LEI: 7TK5RJIZDFROZCA6XF66       | Long             | RA               | CORP              | US        |  19000000 | PA      | $19000000.00  | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Natixis SA                                         | Natixis SA, New York                                                 | CUSIP: 63873Q3K8<br>LEI: 2549003L5ZG5M2ZSE107 | Long             | STIV             | CORP              | FR        |   9000000 | PA      | $9007131.60   | 0.74%             | 2025-05-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                    | Nordea Bank Abp                                                      | CUSIP: 65558RAC3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   6100000 | PA      | $6104876.89   | 0.50%             | 2025-09-22      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                           | John Deere Capital Corp.                                             | CUSIP: 24422EWF2<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   4310000 | PA      | $4304379.67   | 0.35%             | 2025-06-06      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CDP Financial, Inc.                                | CDP Financial, Inc.                                                  | CUSIP: 12509RU74<br>LEI: 549300OXMGVYFCBFV096 | Long             | STIV             | CORP              | CA        |   6000000 | PA      | $5950503.60   | 0.49%             | 2025-07-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                            | BPCE SA                                                              | CUSIP: 05571AAT2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   2010000 | PA      | $2038202.59   | 0.17%             | 2027-01-18      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BMW U.S. Capital LLC                               | BMW U.S. Capital LLC                                                 | CUSIP: 05565ECP8<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1178121.00   | 0.10%             | 2026-08-13      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                 | Canadian Imperial Bank of Commerce, New York                         | CUSIP: 13606DEU2<br>LEI: 549300H8L46OOZOFHU82 | Long             | STIV             | CORP              | CA        |   7090000 | PA      | $7087501.48   | 0.58%             | 2026-02-09      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| PayPal Holdings, Inc.                              | PayPal Holdings, Inc.                                                | CUSIP: 70450YAR4<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |   2080000 | PA      | $2080282.88   | 0.17%             | 2028-03-06      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                  | American Electric Power Co., Inc.                                    | CUSIP: 0255E2SG6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | STIV             | CORP              | US        |   4750000 | PA      | $4740243.98   | 0.39%             | 2025-05-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                | Macquarie Bank Ltd.                                                  | CUSIP: 55607NZK9<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | AU        |   6220000 | PA      | $6217634.53   | 0.51%             | 2025-11-20      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                             | JPMorgan Chase Bank NA                                               | CUSIP: 48125LRU8<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |   3030000 | PA      | $3075453.18   | 0.25%             | 2026-12-08      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Aon Corp.                                          | Aon Corp.                                                            | CUSIP: 03739NSL6<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | STIV             | CORP              | US        |   6250000 | PA      | $6234113.75   | 0.51%             | 2025-05-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC            | Daimler Truck Finance North America LLC                              | CUSIP: 233853AV2<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   2260000 | PA      | $2275400.97   | 0.19%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Toyota Lease Owner Trust                           | Toyota Lease Owner Trust, Series 2024-A, Class A2B                   | CUSIP: 89238GAC5<br>LEI: 254900MVSB4M6HOIRE71 | Long             | ABS-O            | CORP              | US        |    111329 | PA      | $111325.08    | 0.01%             | 2026-07-20      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets, Inc.                     | Citigroup Global Markets, Inc.                                       | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Long             | RA               | CORP              | US        |  16000000 | PA      | $16000000.00  | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| ING US Funding LLC                                 | ING US Funding LLC                                                   | CUSIP: 45685QX79<br>LEI: 254900QX5Y2ZDZ6XBT08 | Long             | STIV             | CORP              | US        |   5000000 | PA      | $4904666.50   | 0.40%             | 2025-10-07      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                    | Nordea Bank Abp                                                      | CUSIP: 65558RAM1<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   2210000 | PA      | $2205833.91   | 0.18%             | 2028-03-17      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp.                                     | Amphenol Corp.                                                       | CUSIP: 032095AM3<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    750000 | PA      | $751741.33    | 0.06%             | 2026-03-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                  | CUSIP: 91282CLH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5815000 | PA      | $5812501.35   | 0.48%             | 2026-08-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CNH Equipment Trust                                | CNH Equipment Trust, Series 2024-B, Class A2B                        | CUSIP: 18978JAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    844267 | PA      | $844263.84    | 0.07%             | 2027-10-15      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                             | Extra Space Storage LP                                               | CUSIP: 30227PT40<br>LEI: 549300YNKSKNZFR8UC42 | Long             | STIV             | CORP              | US        |   6940000 | PA      | $6907883.07   | 0.57%             | 2025-06-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                              | Westpac Banking Corp.                                                | CUSIP: 9612E0DL8<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |   2900000 | PA      | $2877580.48   | 0.24%             | 2028-03-06      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Protective Life Global Funding                     | Protective Life Global Funding                                       | CUSIP: 743672AG2<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |   8460000 | PA      | $8441134.20   | 0.69%             | 2026-07-22      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Caterpillar Financial Services Corp.               | Caterpillar Financial Services Corp.                                 | CUSIP: 14913UAW0<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |   2155000 | PA      | $2149427.17   | 0.18%             | 2027-01-07      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| Fiserv, Inc.                                       | Fiserv, Inc.                                                         | CUSIP: 33774KS76<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | STIV             | CORP              | US        |   1750000 | PA      | $1748431.30   | 0.14%             | 2025-05-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PPL Capital Funding, Inc.                          | PPL Capital Funding, Inc.                                            | CUSIP: 69354GSC6<br>LEI: 549300MROK5WY0D2NU17 | Long             | STIV             | CORP              | US        |   4595000 | PA      | $4587943.00   | 0.38%             | 2025-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                 | Canadian Imperial Bank of Commerce, New York                         | CUSIP: 13606DAF9<br>LEI: 549300H8L46OOZOFHU82 | Long             | STIV             | CORP              | CA        |   7500000 | PA      | $7503240.75   | 0.61%             | 2025-09-23      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Evergy Kansas Central, Inc.                        | Evergy Kansas Central, Inc.                                          | CUSIP: 30035MS16<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | STIV             | CORP              | US        |   6750000 | PA      | $6749144.10   | 0.55%             | 2025-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                              | CUSIP: 44891ACT2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   2625000 | PA      | $2643164.40   | 0.22%             | 2027-01-08      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pfizer Investment Enterprises Pte. Ltd.            | Pfizer Investment Enterprises Pte. Ltd.                              | CUSIP: 716973AB8<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |   5302000 | PA      | $5309134.58   | 0.44%             | 2026-05-19      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                | Macquarie Bank Ltd.                                                  | CUSIP: 55607KZ90<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | AU        |   2860000 | PA      | $2785098.32   | 0.23%             | 2025-12-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp. | National Rural Utilities Cooperative Finance Corp.                   | CUSIP: 63743HFW7<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1371091.44   | 0.11%             | 2028-02-07      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UBS AG                                             | UBS AG                                                               | CUSIP: 90261AAD4<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |   3420000 | PA      | $3443345.23   | 0.28%             | 2028-01-10      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                       | American Honda Finance Corp.                                         | CUSIP: 02665WFM8<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   3010000 | PA      | $3005935.15   | 0.25%             | 2026-01-12      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| HSBC Bank plc                                      | HSBC Bank plc                                                        | CUSIP: 40433FVM8<br>LEI: MP6I5ZYZBEU3UXPYFY54 | Long             | STIV             | CORP              | GB        |   2000000 | PA      | $1998859.40   | 0.16%             | 2026-02-24      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| BofA Securities, Inc.                              | BofA Securities, Inc.                                                | CUSIP: N/A<br>LEI: 549300HN4UKV1E2R3U73       | Long             | RA               | CORP              | US        |  12250000 | PA      | $12250000.00  | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PPG Industries, Inc.                               | PPG Industries, Inc.                                                 | CUSIP: 69350ASE9<br>LEI: 549300BKPEP01R3V6C59 | Long             | STIV             | CORP              | US        |   1380000 | PA      | $1377525.25   | 0.11%             | 2025-05-14      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                       | American Honda Finance Corp.                                         | CUSIP: 02665WFN6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2000586.18   | 0.16%             | 2026-10-05      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                  | Wells Fargo & Co.                                                    | CUSIP: 95000U3S0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2980000 | PA      | $2965080.75   | 0.24%             | 2028-01-24      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Fiserv, Inc.                                       | Fiserv, Inc.                                                         | CUSIP: 33774KS19<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | STIV             | CORP              | US        |   1750000 | PA      | $1749776.70   | 0.14%             | 2025-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Virginia Electric and Power Co.                    | Virginia Electric and Power Co.                                      | CUSIP: 92780JSC6<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | STIV             | CORP              | US        |   6950000 | PA      | $6939680.64   | 0.57%             | 2025-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                       | National Australia Bank Ltd.                                         | CUSIP: 632525CG4<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |   2805000 | PA      | $2783112.67   | 0.23%             | 2028-03-06      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                             | Northrop Grumman Corp.                                               | CUSIP: 66681LSL5<br>LEI: RIMU48P07456QXSO0R61 | Long             | STIV             | CORP              | US        |   5750000 | PA      | $5735243.20   | 0.47%             | 2025-05-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United Overseas Bank Ltd.                          | United Overseas Bank Ltd.                                            | CUSIP: 91127KAL6<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | DBT              | CORP              | SG        |   3035000 | PA      | $3030751.00   | 0.25%             | 2028-04-02      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken, New York                    | Svenska Handelsbanken, New York                                      | CUSIP: 86959TNF9<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | STIV             | CORP              | SE        |   3500000 | PA      | $3500141.05   | 0.29%             | 2026-04-22      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                | Macquarie Bank Ltd.                                                  | CUSIP: 55607NWE6<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | AU        |   8050000 | PA      | $8053405.96   | 0.66%             | 2025-06-24      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                           | Bristol-Myers Squibb Co.                                             | CUSIP: 110122ED6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   4495000 | PA      | $4519460.49   | 0.37%             | 2026-02-20      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Caterpillar Financial Services Corp.               | Caterpillar Financial Services Corp.                                 | CUSIP: 14913UAV2<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |   2780000 | PA      | $2802801.84   | 0.23%             | 2027-01-07      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| National Bank of Canada                            | National Bank of Canada                                              | CUSIP: 63307MAG4<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | STIV             | CORP              | CA        |   9330000 | PA      | $9051381.01   | 0.74%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VW Credit, Inc.                                    | VW Credit, Inc.                                                      | CUSIP: 91842JT25<br>LEI: 549300UUPJ2NXDB68M19 | Long             | STIV             | CORP              | US        |   7250000 | PA      | $7218964.20   | 0.59%             | 2025-06-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MUFG Bank Ltd.                                     | MUFG Bank Ltd.                                                       | CUSIP: 55381BFD5<br>LEI: C3GTMMZIHMY46P4OIX74 | Long             | STIV             | CORP              | JP        |   6000000 | PA      | $5996408.40   | 0.49%             | 2025-11-26      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                        | Citibank NA                                                          | CUSIP: 17325FBJ6<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   4420000 | PA      | $4454299.64   | 0.37%             | 2026-08-06      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| National Grid North America, Inc.                  | National Grid North America, Inc.                                    | CUSIP: 63627AS17<br>LEI: 5Q3U0WRKWZZGRMPYFT08 | Long             | STIV             | CORP              | US        |   5850000 | PA      | $5849258.22   | 0.48%             | 2025-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                       | Ford Credit Auto Owner Trust, Series 2024-B, Class A2A               | CUSIP: 34531QAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1422044 | PA      | $1426343.28   | 0.12%             | 2027-04-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Westpac Securities NZ Ltd.                         | Westpac Securities NZ Ltd.                                           | CUSIP: 96122GXW0<br>LEI: 549300W0N3O6Q4RCKE25 | Long             | STIV             | CORP              | NZ        |   6500000 | PA      | $6357436.15   | 0.52%             | 2025-10-30      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Bell Canada Holdings, Inc.                         | Bell Canada Holdings, Inc.                                           | CUSIP: 07787PSC3<br>LEI: N/A                  | Long             | STIV             | CORP              | CA        |   5580000 | PA      | $5571714.82   | 0.46%             | 2025-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Auto Receivables Trust               | Mercedes-Benz Auto Receivables Trust, Series 2023-2, Class A2        | CUSIP: 58769FAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    276854 | PA      | $277223.09    | 0.02%             | 2026-11-16      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| Mizuho Bank Ltd.                                   | Mizuho Bank Ltd., New York                                           | CUSIP: 60710TYN5<br>LEI: RB0PEZSDGCO3JS6CEU02 | Long             | STIV             | CORP              | JP        |   6500000 | PA      | $6512580.75   | 0.53%             | 2026-01-14      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| MUFG Bank Ltd.                                     | MUFG Bank Ltd.                                                       | CUSIP: 55381BFG8<br>LEI: C3GTMMZIHMY46P4OIX74 | Long             | STIV             | CORP              | JP        |   3900000 | PA      | $3897515.31   | 0.32%             | 2025-12-03      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Securities, Inc.                     | Deutsche Bank Securities, Inc.                                       | CUSIP: N/A<br>LEI: 9J6MBOOO7BECTDTUZW19       | Long             | RA               | CORP              | US        |   3500000 | PA      | $3500000.00   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Amphenol Corp.                                     | Amphenol Corp.                                                       | CUSIP: 032095AN1<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |   2755000 | PA      | $2804913.41   | 0.23%             | 2027-04-05      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                            | Goldman Sachs & Co. LLC                                              | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | Long             | RA               | CORP              | US        |  20000000 | PA      | $20000000.00  | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                       | National Australia Bank Ltd.                                         | CUSIP: 63253QAD6<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |   3140000 | PA      | $3140562.56   | 0.26%             | 2025-05-13      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                            | BPCE SA                                                              | CUSIP: 05611C2A0<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   3140000 | PA      | $3145590.42   | 0.26%             | 2026-01-26      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co.                          | Florida Power & Light Co.                                            | CUSIP: 341081GR2<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1917400.51   | 0.16%             | 2026-05-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                  | CUSIP: 91282CLP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2930000 | PA      | $2920271.49   | 0.24%             | 2026-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                       | AbbVie, Inc.                                                         | CUSIP: 00287BSL4<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | STIV             | CORP              | US        |   6500000 | PA      | $6483261.85   | 0.53%             | 2025-05-20      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.         | Australia & New Zealand Banking Group Ltd.                           | CUSIP: 05254JAA8<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |   3245000 | PA      | $3259072.07   | 0.27%             | 2025-12-08      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Cargill, Inc.                                      | Cargill, Inc.                                                        | CUSIP: 141781BY9<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |   5185000 | PA      | $5191697.72   | 0.43%             | 2025-10-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| New York Life Global Funding                       | New York Life Global Funding                                         | CUSIP: 64952WEU3<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   6200000 | PA      | $6182300.43   | 0.51%             | 2025-08-05      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA                                | Wells Fargo Bank NA                                                  | CUSIP: 94988J6B8<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |   3340000 | PA      | $3345451.11   | 0.27%             | 2025-08-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Pfizer Investment Enterprises Pte. Ltd.            | Pfizer Investment Enterprises Pte. Ltd.                              | CUSIP: 716973AA0<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |   7600000 | PA      | $7600034.58   | 0.62%             | 2025-05-19      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                  | CUSIP: 91282CJL6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3080000 | PA      | $3093186.25   | 0.25%             | 2025-11-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                          | Rio Tinto Finance USA plc                                            | CUSIP: 76720AAY2<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   1395000 | PA      | $1396395.00   | 0.11%             | 2028-03-14      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.              | NextEra Energy Capital Holdings, Inc.                                | CUSIP: 65339KBS8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2905000 | PA      | $2914069.38   | 0.24%             | 2025-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Credit Agricole Corporate & Investment Bank SA     | Credit Agricole Corporate & Investment Bank SA, New York             | CUSIP: 22532XZA9<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | FR        |   8700000 | PA      | $8702138.46   | 0.71%             | 2025-06-13      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| Mars, Inc.                                         | Mars, Inc.                                                           | CUSIP: 571676AW5<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   3370000 | PA      | $3390342.57   | 0.28%             | 2027-03-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| National Grid North America, Inc.                  | National Grid North America, Inc.                                    | CUSIP: 63627ASU3<br>LEI: 5Q3U0WRKWZZGRMPYFT08 | Long             | STIV             | CORP              | US        |   6740000 | PA      | $6715555.37   | 0.55%             | 2025-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken, New York                    | Svenska Handelsbanken, New York                                      | CUSIP: 86959TLW4<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | STIV             | CORP              | SE        |   7190000 | PA      | $7185075.57   | 0.59%             | 2025-12-12      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA              | Banque Federative du Credit Mutuel SA                                | CUSIP: 06675FBC0<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   3140000 | PA      | $3171569.69   | 0.26%             | 2027-01-23      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                  | CUSIP: 912828P46<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2580000 | PA      | $2532061.72   | 0.21%             | 2026-02-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                       | American Honda Finance Corp.                                         | CUSIP: 02665WFV8<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2197212.05   | 0.18%             | 2026-05-21      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                             | Northrop Grumman Corp.                                               | CUSIP: 66681LTC4<br>LEI: RIMU48P07456QXSO0R61 | Long             | STIV             | CORP              | US        |   7330000 | PA      | $7289287.71   | 0.60%             | 2025-06-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Northwestern Mutual Global Funding                 | Northwestern Mutual Global Funding                                   | CUSIP: 66815L2J7<br>LEI: 635400LZXFVELZDVP257 | Long             | DBT              | CORP              | US        |   6400000 | PA      | $6392145.60   | 0.52%             | 2025-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-04-30

**Name of Applicant:** BlackRock Funds

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer