# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0001193125-26-190251
**Filing Date:** 2026-4
**Character Count:** 146847
**Document Hash:** 4360ae2d6c4fbb6d9e82b95c433148dc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-190251.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-190251

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**PERIOD START**: 20261130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS SERIES TRUST
- **CENTRAL INDEX KEY:** 0001027596

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07959
- **FILM NUMBER:** 26912466

**BUSINESS ADDRESS:**
- **STREET 1:** U.S BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 626-914-7235

**MAIL ADDRESS:**
- **STREET 1:** 615 E MICHIGAN STREET
- **STREET 2:** MK-WI-LC2
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### PIA BBB Bond Fund (Series ID: S000005064)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000013849 | Managed Account Completion Shares | PBBBX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **PIA BBB Bond Fund** | **PIA BBB Bond Fund** | **PIA BBB Bond Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** |
| **CORPORATE BONDS - 90.2%** | **Par**  | **Value**  |
| **Aerospace/Defense - 2.8%** | **Aerospace/Defense - 2.8%** | **Aerospace/Defense - 2.8%** |
| Boeing Co. | Boeing Co. | Boeing Co. |
| &nbsp;&nbsp; 5.15%, 05/01/2030 | $950000 | $984332 |
| &nbsp;&nbsp; 5.71%, 05/01/2040 | 1400000 | 1458804 |
|  L3Harris Technologies, Inc., 6.15%, 12/15/2040 | 500000 | 553772 |
|  Northrop Grumman Corp., 4.95%, 03/15/2053 | 500000 | 460883 |
| RTX Corp. | RTX Corp. | RTX Corp. |
| &nbsp;&nbsp; 3.50%, 03/15/2027 | 1000000 | 997581 |
| &nbsp;&nbsp; 4.35% , 04/15/2047 | 1000000 | 866336 |
|  |  | 5321708 |
| **Agriculture - 1.9%** | **Agriculture - 1.9%** | **Agriculture - 1.9%** |
| Altria Group, Inc. | Altria Group, Inc. | Altria Group, Inc. |
| &nbsp;&nbsp; 4.80%, 02/14/2029 | 148000 | 151268 |
| &nbsp;&nbsp; 3.40%, 05/06/2030 | 800000 | 779613 |
| BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. |
| &nbsp;&nbsp; 2.26%, 03/25/2028 | 1000000 | 967741 |
| &nbsp;&nbsp; 4.54%, 08/15/2047 | 400000 | 338369 |
| &nbsp;&nbsp; 5.65%, 03/16/2052 | 800000 | 771002 |
|  Bunge Ltd. Finance Corp., 3.75%, 09/25/2027 | 600000 | 598838 |
|  |  | 3606831 |
| **Airlines - 0.3%** | **Airlines - 0.3%** | **Airlines - 0.3%** |
|  Southwest Airlines Co., 5.13%, 06/15/2027 | 500000 | 505920 |
| **Auto Manufacturers - 3.3%** | **Auto Manufacturers - 3.3%** | **Auto Manufacturers - 3.3%** |
| Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
| &nbsp;&nbsp; 3.82%, 11/02/2027 | 500000 | 496267 |
| &nbsp;&nbsp; 6.80%, 11/07/2028 | 500000 | 527242 |
| &nbsp;&nbsp; 7.12%, 11/07/2033 | 1000000 | 1093080 |
| &nbsp;&nbsp; 6.13%, 03/08/2034 | 500000 | 517000 |
|  General Motors Co., 5.20%, 04/01/2045 | 400000 | 364974 |
| General Motors Financial Co., Inc. | General Motors Financial Co., Inc. | General Motors Financial Co., Inc. |
| &nbsp;&nbsp; 3.60%, 06/21/2030 | 1300000 | 1263722 |
| &nbsp;&nbsp; 2.35%, 01/08/2031 | 1500000 | 1366620 |
| &nbsp;&nbsp; 5.63%, 04/04/2032 | 500000 | 525856 |
|  |  | 6154761 |
| **Banks - 6.6%** | **Banks - 6.6%** | **Banks - 6.6%** |
| Barclays PLC | Barclays PLC | Barclays PLC |
| &nbsp;&nbsp; 4.84%, 05/09/2028 | 1000000 | 1007855 |
| &nbsp;&nbsp; 5.75% to 08/09/2032 then 1 yr. CMT Rate + 3.00%, 08/09/2033 | 1000000 | 1059080 |
| &nbsp;&nbsp; 3.33% to 11/24/2041 then 1 yr. CMT Rate + 1.30%, 11/24/2042 | 700000 | 545977 |
| Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. |
| &nbsp;&nbsp; 4.45%, 09/29/2027 | 700000 | 704517 |
| &nbsp;&nbsp; 5.30%, 05/06/2044 | 540000 | 525073 |
|  Citizens Financial Group, Inc., 5.84% to 01/23/2029 then SOFR + 2.01%, 01/23/2030 | 500000 | 522961 |
|  Deutsche Bank AG, 5.30% to 05/09/2030 then SOFR + 1.72%, 05/09/2031 | 1000000 | 1033163 |
| Fifth Third Bancorp | Fifth Third Bancorp | Fifth Third Bancorp |
| &nbsp;&nbsp; 4.06% to 04/25/2027 then SOFR + 1.36%, 04/25/2028 | 500000 | 500041 |
| &nbsp;&nbsp; 8.25%, 03/01/2038 | 225000 | 279107 |
|  Fifth Third Financial Corp., 5.98% to 01/30/2029 then SOFR + 2.16%, 01/30/2030 | 500000 | 524270 |
|  Goldman Sachs Group, Inc., 6.75%, 10/01/2037 | 950000 | 1067447 |
|  HSBC Holdings PLC, 7.40% to 11/13/2033 then SOFR + 3.02%, 11/13/2034 | 1100000 | 1261248 |
|  Lloyds Banking Group PLC, 4.65%, 03/24/2026 | 800000 | 800300 |
|  M&T Bank Corp., 6.08% to 03/13/2031 then SOFR + 2.26%, 03/13/2032 | 500000 | 535281 |
|  Morgan Stanley, 2.48% to 09/16/2031 then SOFR + 1.36%, 09/16/2036 | 900000 | 796943 |
|  Santander Holdings USA, Inc., 6.34% to 05/31/2034 then SOFR + 2.14%, 05/31/2035 | 1000000 | 1077743 |
|  Westpac Banking Corp., 3.13%, 11/18/2041 | 300000 | 232951 |
|  |  | 12473957 |
| **Beverages - 1.1%** | **Beverages - 1.1%** | **Beverages - 1.1%** |
|  Constellation Brands, Inc., 2.88%, 05/01/2030 | 700000 | 665978 |
| Keurig Dr Pepper, Inc. | Keurig Dr Pepper, Inc. | Keurig Dr Pepper, Inc. |
| &nbsp;&nbsp; 3.20%, 05/01/2030 | 1000000 | 959436 |
| &nbsp;&nbsp; 4.50%, 04/15/2052 | 500000 | 413947 |
|  |  | 2039361 |
| **Biotechnology - 2.1%** | **Biotechnology - 2.1%** | **Biotechnology - 2.1%** |
| Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
| &nbsp;&nbsp; 5.25%, 03/02/2033 | 1000000 | 1048451 |
| &nbsp;&nbsp; 2.80%, 08/15/2041 | 500000 | 375998 |
| &nbsp;&nbsp; 4.66%, 06/15/2051 | 1006000 | 879213 |
| &nbsp;&nbsp; 5.65%, 03/02/2053 | 500000 | 499618 |
|  Biogen, Inc., 2.25%, 05/01/2030 | 700000 | 649859 |
|  Royalty Pharma PLC, 2.15%, 09/02/2031 | 500000 | 447175 |
|  |  | 3900314 |
| **Building Materials - 0.7%** | **Building Materials - 0.7%** | **Building Materials - 0.7%** |
|  Amrize Finance US LLC, 5.40%, 04/07/2035 | 500000 | 523238 |
|  Carrier Global Corp., 2.70%, 02/15/2031 | 240000 | 225029 |
|  Vulcan Materials Co., 3.90%, 04/01/2027 | 620000 | 620460 |
|  |  | 1368727 |
| **Chemicals - 1.2%** | **Chemicals - 1.2%** | **Chemicals - 1.2%** |
| Dow Chemical Co. | Dow Chemical Co. | Dow Chemical Co. |
| &nbsp;&nbsp; 7.38%, 11/01/2029 | 170000 | 187123 |
| &nbsp;&nbsp; 6.90%, 05/15/2053 | 500000 | 513821 |
|  DuPont de Nemours, Inc., 4.73%, 11/15/2028 <sup>(a)</sup> | 432000 | 438184 |
|  Nutrien Ltd., 2.95%, 05/13/2030 | 700000 | 668784 |
|  Sherwin-Williams Co., 2.20%, 03/15/2032 | 600000 | 532963 |
|  |  | 2340875 |
| **Commercial Services - 1.0%** | **Commercial Services - 1.0%** | **Commercial Services - 1.0%** |
|  Equifax, Inc., 3.10%, 05/15/2030 | 500000 | 477607 |
| Global Payments, Inc. | Global Payments, Inc. | Global Payments, Inc. |
| &nbsp;&nbsp; 1.20%, 03/01/2026 | 500000 | 500000 |
| &nbsp;&nbsp; 4.88%, 11/15/2030 | 500000 | 499838 |
| Moody's Corp. | Moody's Corp. | Moody's Corp. |
| &nbsp;&nbsp; 2.00%, 08/19/2031 | 250000 | 224663 |
| &nbsp;&nbsp; 3.10%, 11/29/2061 | 250000 | 154766 |
|  |  | 1856874 |
| **Computers - 1.2%** | **Computers - 1.2%** | **Computers - 1.2%** |
| Dell International LLC / EMC Corp. | Dell International LLC / EMC Corp. | Dell International LLC / EMC Corp. |
| &nbsp;&nbsp; 6.02%, 06/15/2026 | 124000 | 124088 |
| &nbsp;&nbsp; 6.20%, 07/15/2030 | 500000 | 537431 |
| &nbsp;&nbsp; 3.45%, 12/15/2051 | 181000 | 127151 |
|  Hewlett Packard Enterprise Co., 4.85%, 10/15/2031 | 1000000 | 1015340 |
|  HP, Inc., 5.50%, 01/15/2033 | 500000 | 513969 |
|  |  | 2317979 |
| **Diversified Financial Services - 3.6%** | **Diversified Financial Services - 3.6%** | **Diversified Financial Services - 3.6%** |
|  AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.30%, 01/30/2032 | 1500000 | 1402562 |
|  Air Lease Corp., 5.30%, 02/01/2028 | 1000000 | 1021481 |
|  Ally Financial, Inc., 2.20%, 11/02/2028 | 500000 | 476201 |
|  Capital One Financial Corp., 3.65%, 05/11/2027 | 1400000 | 1395901 |
|  Jefferies Financial Group, Inc., 6.20%, 04/14/2034 | 500000 | 523215 |
|  Nasdaq, Inc., 5.55%, 02/15/2034 | 500000 | 527027 |
|  Nomura Holdings, Inc., 2.17%, 07/14/2028 | 1000000 | 957717 |
|  Synchrony Financial, 5.02% (SOFR + 1.40%), 07/29/2029 | 500000 | 506732 |
|  |  | 6810836 |
| **Electric - 7.6%** | **Electric - 7.6%** | **Electric - 7.6%** |
|  AEP Texas, Inc., 5.45%, 05/15/2029 | 500000 | 521469 |
|  American Electric Power Co., Inc., 5.95%, 11/01/2032 | 500000 | 540978 |
|  Black Hills Corp., 6.00%, 01/15/2035 | 500000 | 540440 |
|  Constellation Energy Generation LLC, 5.75%, 03/15/2054 | 250000 | 251471 |
| Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. |
| &nbsp;&nbsp; 2.25%, 08/15/2031 | 500000 | 451785 |
| &nbsp;&nbsp; 4.90%, 08/01/2041 | 470000 | 439852 |
| Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. |
| &nbsp;&nbsp; 2.45%, 06/01/2030 | 950000 | 890954 |
| &nbsp;&nbsp; 3.30%, 06/15/2041 | 1000000 | 782272 |
|  El Paso Electric Co., 6.00%, 05/15/2035 | 850000 | 895668 |
|  Eversource Energy, 2.55%, 03/15/2031 | 500000 | 459735 |
|  Exelon Corp., 5.45%, 03/15/2034 | 600000 | 630407 |
|  FirstEnergy Corp., 2.25%, 09/01/2030 | 700000 | 643710 |
|  Interstate Power and Light Co., 5.60%, 06/29/2035 | 500000 | 526703 |
| NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
| &nbsp;&nbsp; 4.63%, 07/15/2027 | 500000 | 505123 |
| &nbsp;&nbsp; 2.25%, 06/01/2030 | 400000 | 371402 |
| &nbsp;&nbsp; 5.25%, 03/15/2034 | 600000 | 622009 |
|  Pacific Gas and Electric Co., 3.50%, 08/01/2050 | 5000000 | 3456343 |
|  Sempra, 4.13% to 04/01/2027 then 5 yr. CMT Rate + 2.87%, 04/01/2052 | 600000 | 592661 |
|  Southwestern Electric Power Co., 3.25%, 11/01/2051 | 400000 | 266768 |
|  System Energy Resources, Inc., 5.30%, 12/15/2034 | 500000 | 510829 |
|  Xcel Energy, Inc., 2.35%, 11/15/2031 | 500000 | 451279 |
|  |  | 14351858 |
| **Electronics - 0.4%** | **Electronics - 0.4%** | **Electronics - 0.4%** |
|  Fortive Corp., 3.15%, 06/15/2026 | 750000 | 747419 |
| **Entertainment - 0.3%** | **Entertainment - 0.3%** | **Entertainment - 0.3%** |
| Discovery Global Holdings, Inc. | Discovery Global Holdings, Inc. | Discovery Global Holdings, Inc. |
| &nbsp;&nbsp; 4.28%, 03/15/2032 | 581000 | 533794 |
| &nbsp;&nbsp; 5.14%, 03/15/2052 | 210000 | 140175 |
|  |  | 673969 |
| **Food - 2.8%** | **Food - 2.8%** | **Food - 2.8%** |
|  Conagra Brands, Inc., 7.00%, 10/01/2028 | 1300000 | 1391020 |
|  General Mills, Inc., 2.25%, 10/14/2031 | 700000 | 629204 |
| Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. |
| &nbsp;&nbsp; 5.20%, 03/15/2032 | 500000 | 518791 |
| &nbsp;&nbsp; 4.88%, 10/01/2049 | 600000 | 518126 |
|  Kroger Co., 5.50%, 09/15/2054 | 500000 | 483752 |
|  Mondelez International, Inc., 1.50%, 02/04/2031 | 500000 | 440894 |
| Sysco Corp. | Sysco Corp. | Sysco Corp. |
| &nbsp;&nbsp; 5.95% (SOFR + 2.16%), 04/01/2030 | 464000 | 494098 |
| &nbsp;&nbsp; 3.15%, 12/14/2051 | 400000 | 270910 |
|  Tyson Foods, Inc., 4.35%, 03/01/2029 | 600000 | 605853 |
|  |  | 5352648 |
| **Forest Products & Paper - 0.4%** | **Forest Products & Paper - 0.4%** | **Forest Products & Paper - 0.4%** |
|  International Paper Co., 6.00%, 11/15/2041 | 700000 | 730538 |
| **Gas - 0.3%** | **Gas - 0.3%** | **Gas - 0.3%** |
| NiSource, Inc. | NiSource, Inc. | NiSource, Inc. |
| &nbsp;&nbsp; 5.35%, 04/01/2034 | 250000 | 261161 |
| &nbsp;&nbsp; 5.25%, 02/15/2043 | 400000 | 390471 |
|  |  | 651632 |
| **Hand/Machine Tools - 0.2%** | **Hand/Machine Tools - 0.2%** | **Hand/Machine Tools - 0.2%** |
|  Kennametal, Inc., 2.80%, 03/01/2031 | 330000 | 307535 |
| **Healthcare-Products - 1.0%** | **Healthcare-Products - 1.0%** | **Healthcare-Products - 1.0%** |
|  Agilent Technologies, Inc., 2.30%, 03/12/2031 | 215000 | 196558 |
|  GE HealthCare Technologies, Inc., 5.86%, 03/15/2030 | 500000 | 531606 |
|  Solventum Corp., 5.60%, 03/23/2034 | 500000 | 522558 |
|  Stryker Corp., 1.95%, 06/15/2030 | 700000 | 643494 |
|  |  | 1894216 |
| **Healthcare-Services - 3.2%** | **Healthcare-Services - 3.2%** | **Healthcare-Services - 3.2%** |
| Cigna Group | Cigna Group | Cigna Group |
| &nbsp;&nbsp; 5.25%, 01/15/2036 | 500000 | 513986 |
| &nbsp;&nbsp; 3.40%, 03/15/2050 | 600000 | 425526 |
| Elevance Health, Inc. | Elevance Health, Inc. | Elevance Health, Inc. |
| &nbsp;&nbsp; 5.50%, 10/15/2032 | 500000 | 528127 |
| &nbsp;&nbsp; 4.65%, 08/15/2044 | 600000 | 536697 |
| &nbsp;&nbsp; 5.13%, 02/15/2053 | 1000000 | 912799 |
| HCA, Inc. | HCA, Inc. | HCA, Inc. |
| &nbsp;&nbsp; 4.13%, 06/15/2029 | 1000000 | 1001785 |
| &nbsp;&nbsp; 5.60%, 04/01/2034 | 1000000 | 1051703 |
| &nbsp;&nbsp; 4.38%, 03/15/2042 | 600000 | 522416 |
|  Humana, Inc., 4.88%, 04/01/2030 | 500000 | 507282 |
|  |  | 6000321 |
| **Household Products/Wares - 0.3%** | **Household Products/Wares - 0.3%** | **Household Products/Wares - 0.3%** |
|  Church & Dwight Co., Inc., 3.15%, 08/01/2027 | 500000 | 495869 |
| **Insurance - 4.0%** | **Insurance - 4.0%** | **Insurance - 4.0%** |
|  American International Group, Inc., 5.45%, 05/07/2035 | 500000 | 521871 |
|  Aon Corp., 2.80%, 05/15/2030 | 600000 | 569443 |
|  CNA Financial Corp., 5.13%, 02/15/2034 | 500000 | 508284 |
| Corebridge Financial, Inc. | Corebridge Financial, Inc. | Corebridge Financial, Inc. |
| &nbsp;&nbsp; 3.90%, 04/05/2032 | 500000 | 476250 |
| &nbsp;&nbsp; 6.05%, 09/15/2033 | 500000 | 533793 |
|  Fidelity National Financial, Inc., 2.45%, 03/15/2031 | 2000000 | 1798877 |
| Lincoln National Corp. | Lincoln National Corp. | Lincoln National Corp. |
| &nbsp;&nbsp; 3.80%, 03/01/2028 | 120000 | 118957 |
| &nbsp;&nbsp; 5.85%, 03/15/2034 | 500000 | 516718 |
|  MetLife, Inc., 6.40%, 12/15/2036 | 855000 | 894972 |
|  Old Republic International Corp., 5.75%, 03/28/2034 | 1000000 | 1048643 |
|  Prudential Financial, Inc., 5.13% to 02/28/2032 then 5 yr. CMT Rate + 3.16%, 03/01/2052 | 500000 | 491583 |
|  |  | 7479391 |
| **Internet - 0.5%** | **Internet - 0.5%** | **Internet - 0.5%** |
|  eBay, Inc., 2.60%, 05/10/2031 | 500000 | 461381 |
|  Expedia Group, Inc., 5.40%, 02/15/2035 | 500000 | 505521 |
|  |  | 966902 |
| **Investment Companies - 1.3%** | **Investment Companies - 1.3%** | **Investment Companies - 1.3%** |
|  Ares Capital Corp., 5.80%, 03/08/2032 | 1000000 | 997320 |
|  Ares Strategic Income Fund, 5.55%, 04/15/2031 <sup>(a)</sup> | 500000 | 492031 |
|  Blackstone Private Credit Fund, 5.95%, 07/16/2029 | 500000 | 504548 |
|  Blue Owl Capital Corp., 6.20%, 07/15/2030 | 500000 | 499166 |
|  |  | 2493065 |
| **Iron/Steel - 0.6%** | **Iron/Steel - 0.6%** | **Iron/Steel - 0.6%** |
|  Steel Dynamics, Inc., 5.25%, 05/15/2035 | 500000 | 513998 |
|  Vale Overseas Ltd., 6.13%, 06/12/2033 | 500000 | 540312 |
|  |  | 1054310 |
| **Lodging - 1.1%** | **Lodging - 1.1%** | **Lodging - 1.1%** |
|  Hyatt Hotels Corp., 5.75%, 03/30/2032 | 500000 | 528468 |
|  Marriott International, Inc./MD, 4.90%, 04/15/2029 | 500000 | 513116 |
|  Sands China Ltd., 2.30%, 03/08/2027 <sup>(b)</sup> | 1000000 | 982180 |
|  |  | 2023764 |
| **Machinery-Diversified - 1.1%** | **Machinery-Diversified - 1.1%** | **Machinery-Diversified - 1.1%** |
|  CNH Industrial Capital LLC, 5.10%, 04/20/2029 | 500000 | 514410 |
|  IDEX Corp., 3.00%, 05/01/2030 | 1000000 | 957486 |
|  Westinghouse Air Brake Technologies Corp., 5.61%, 03/11/2034 | 500000 | 530494 |
|  |  | 2002390 |
| **Media - 2.5%** | **Media - 2.5%** | **Media - 2.5%** |
| Charter Communications Operating LLC / Charter Communications Operating Capital | Charter Communications Operating LLC / Charter Communications Operating Capital | Charter Communications Operating LLC / Charter Communications Operating Capital |
| &nbsp;&nbsp; 2.80%, 04/01/2031 | 1000000 | 910837 |
| &nbsp;&nbsp; 2.30%, 02/01/2032 | 1000000 | 874244 |
| &nbsp;&nbsp; 3.90%, 06/01/2052 | 1000000 | 659696 |
|  Discovery Communications LLC, 3.63%, 05/15/2030 | 1000000 | 971250 |
|  Paramount Global, 4.38%, 03/15/2043 | 610000 | 382896 |
|  Time Warner Cable Enterprises LLC, 8.38%, 07/15/2033 | 810000 | 947524 |
|  |  | 4746447 |
| **Mining - 0.4%** | **Mining - 0.4%** | **Mining - 0.4%** |
|  Southern Copper Corp., 6.75%, 04/16/2040 | 750000 | 861945 |
| **Miscellaneous Manufacturing - 0.3%** | **Miscellaneous Manufacturing - 0.3%** | **Miscellaneous Manufacturing - 0.3%** |
|  Textron, Inc., 6.10%, 11/15/2033 | 500000 | 547876 |
| **Oil & Gas - 2.6%** | **Oil & Gas - 2.6%** | **Oil & Gas - 2.6%** |
|  Canadian Natural Resources Ltd., 4.95%, 06/01/2047 | 700000 | 639499 |
|  Devon Energy Corp., 5.20%, 09/15/2034 | 1000000 | 1025642 |
|  Diamondback Energy, Inc., 3.13%, 03/24/2031 | 500000 | 474596 |
|  Occidental Petroleum Corp., 5.55%, 10/01/2034 | 1000000 | 1042945 |
|  Suncor Energy, Inc., 3.75%, 03/04/2051 | 500000 | 367001 |
| Valero Energy Corp. | Valero Energy Corp. | Valero Energy Corp. |
| &nbsp;&nbsp; 2.80%, 12/01/2031 | 750000 | 694474 |
| &nbsp;&nbsp; 6.63%, 06/15/2037 | 655000 | 737188 |
|  |  | 4981345 |
| **Oil & Gas Services - 0.5%** | **Oil & Gas Services - 0.5%** | **Oil & Gas Services - 0.5%** |
|  Halliburton Co., 2.92%, 03/01/2030 | 1000000 | 958844 |
| **Packaging & Containers - 0.5%** | **Packaging & Containers - 0.5%** | **Packaging & Containers - 0.5%** |
|  Amcor Flexibles North America, Inc., 5.10%, 03/17/2030 | 500000 | 518062 |
|  WRKCo, Inc., 3.90%, 06/01/2028 | 500000 | 499919 |
|  |  | 1017981 |
| **Pharmaceuticals - 2.9%** | **Pharmaceuticals - 2.9%** | **Pharmaceuticals - 2.9%** |
|  AbbVie, Inc., 4.75%, 03/15/2045 | 268000 | 249498 |
|  Cardinal Health, Inc., 3.41%, 06/15/2027 | 125000 | 124327 |
| CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
| &nbsp;&nbsp; 3.75%, 04/01/2030 | 2150000 | 2117334 |
| &nbsp;&nbsp; 5.13%, 07/20/2045 | 500000 | 458015 |
| &nbsp;&nbsp; 5.05%, 03/25/2048 | 1000000 | 892640 |
| &nbsp;&nbsp; 6.05%, 06/01/2054 | 500000 | 503044 |
|  Viatris, Inc., 2.70%, 06/22/2030 | 600000 | 554360 |
|  Zoetis, Inc., 2.00%, 05/15/2030 | 600000 | 554444 |
|  |  | 5453662 |
| **Pipelines - 7.1%** | **Pipelines - 7.1%** | **Pipelines - 7.1%** |
|  Boardwalk Pipelines LP, 3.60%, 09/01/2032 | 500000 | 473411 |
| Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. |
| &nbsp;&nbsp; 4.50%, 02/15/2031 | 500000 | 505493 |
| &nbsp;&nbsp; 3.40%, 08/01/2051 | 250000 | 174843 |
| &nbsp;&nbsp; 5.95%, 04/05/2054 | 500000 | 516138 |
| Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
| &nbsp;&nbsp; 5.25%, 07/01/2029 | 1200000 | 1245091 |
| &nbsp;&nbsp; 5.00%, 05/15/2050 | 1000000 | 856562 |
| &nbsp;&nbsp; 5.95%, 05/15/2054 | 500000 | 483780 |
|  Enterprise Products Operating LLC, 3.30%, 02/15/2053 | 500000 | 341249 |
|  Kinder Morgan Energy Partners LP, 5.80%, 03/15/2035 | 1270000 | 1358584 |
| Kinder Morgan, Inc. | Kinder Morgan, Inc. | Kinder Morgan, Inc. |
| &nbsp;&nbsp; 2.00%, 02/15/2031 | 600000 | 544341 |
| &nbsp;&nbsp; 5.55%, 06/01/2045 | 700000 | 692805 |
| MPLX LP | MPLX LP | MPLX LP |
| &nbsp;&nbsp; 4.25%, 12/01/2027 | 515000 | 517658 |
| &nbsp;&nbsp; 4.95%, 03/14/2052 | 600000 | 516647 |
| ONEOK, Inc. | ONEOK, Inc. | ONEOK, Inc. |
| &nbsp;&nbsp; 6.10%, 11/15/2032 | 500000 | 540293 |
| &nbsp;&nbsp; 5.70%, 11/01/2054 | 500000 | 472119 |
|  Plains All American Pipeline LP / PAA Finance Corp., 3.80%, 09/15/2030 | 546000 | 536433 |
|  South Bow USA Infrastructure Holdings LLC, 6.18%, 10/01/2054 | 1000000 | 979951 |
| Targa Resources Corp. | Targa Resources Corp. | Targa Resources Corp. |
| &nbsp;&nbsp; 5.20%, 07/01/2027 | 500000 | 508193 |
| &nbsp;&nbsp; 4.90%, 09/15/2030 | 500000 | 513718 |
|  TransCanada PipeLines Ltd., 4.10%, 04/15/2030 | 1100000 | 1098772 |
|  Williams Cos., Inc., 5.10%, 09/15/2045 | 500000 | 468471 |
|  |  | 13344552 |
| **REITs - 5.2%** | **REITs - 5.2%** | **REITs - 5.2%** |
|  Alexandria Real Estate Equities, Inc., 1.88%, 02/01/2033 | 650000 | 541103 |
|  American Tower Corp., 1.88%, 10/15/2030 | 1000000 | 903494 |
|  Boston Properties LP, 3.25%, 01/30/2031 | 675000 | 636244 |
|  COPT Defense Properties LP, 2.75%, 04/15/2031 | 500000 | 462358 |
| Crown Castle, Inc. | Crown Castle, Inc. | Crown Castle, Inc. |
| &nbsp;&nbsp; 3.65%, 09/01/2027 | 500000 | 497828 |
| &nbsp;&nbsp; 2.25%, 01/15/2031 | 600000 | 543267 |
| Equinix, Inc. | Equinix, Inc. | Equinix, Inc. |
| &nbsp;&nbsp; 1.55%, 03/15/2028 | 500000 | 477204 |
| &nbsp;&nbsp; 3.90%, 04/15/2032 | 100000 | 96918 |
|  Extra Space Storage LP, 5.90%, 01/15/2031 | 500000 | 533564 |
|  GLP Capital LP / GLP Financing II, Inc., 3.25%, 01/15/2032 | 250000 | 228280 |
|  Healthpeak OP LLC, 2.13%, 12/01/2028 | 350000 | 333099 |
|  Omega Healthcare Investors, Inc., 3.25%, 04/15/2033 | 1000000 | 903401 |
|  Sabra Health Care LP, 3.90%, 10/15/2029 | 1000000 | 986510 |
| Store Capital LLC | Store Capital LLC | Store Capital LLC |
| &nbsp;&nbsp; 4.50%, 03/15/2028 | 810000 | 813598 |
| &nbsp;&nbsp; 5.40%, 04/30/2030 | 1000000 | 1028417 |
|  Ventas Realty LP, 5.63%, 07/01/2034 | 600000 | 632914 |
|  Weyerhaeuser Co., 7.38%, 03/15/2032 | 226000 | 259442 |
|  |  | 9877641 |
| **Retail - 2.3%** | **Retail - 2.3%** | **Retail - 2.3%** |
|  AutoZone, Inc., 4.75%, 08/01/2032 | 500000 | 507762 |
|  Genuine Parts Co., 1.88%, 11/01/2030 | 500000 | 441541 |
| Lowe's Cos., Inc. | Lowe's Cos., Inc. | Lowe's Cos., Inc. |
| &nbsp;&nbsp; 1.70%, 10/15/2030 | 500000 | 449842 |
| &nbsp;&nbsp; 5.63%, 04/15/2053 | 1000000 | 985774 |
|  McDonald's Corp., 4.88%, 12/09/2045 | 550000 | 511739 |
|  Starbucks Corp., 2.55%, 11/15/2030 | 1000000 | 935171 |
|  Tractor Supply Co., 1.75%, 11/01/2030 | 500000 | 448051 |
|  |  | 4279880 |
| **Semiconductors - 2.0%** | **Semiconductors - 2.0%** | **Semiconductors - 2.0%** |
|  Broadcom, Inc., 3.19%, 11/15/2036 <sup>(a)</sup> | 55000 | 47473 |
| Intel Corp. | Intel Corp. | Intel Corp. |
| &nbsp;&nbsp; 5.20%, 02/10/2033 | 1500000 | 1546962 |
| &nbsp;&nbsp; 5.60%, 02/21/2054 | 1000000 | 945491 |
|  Micron Technology, Inc., 2.70%, 04/15/2032 | 250000 | 228719 |
| NXP BV / NXP Funding LLC / NXP USA, Inc. | NXP BV / NXP Funding LLC / NXP USA, Inc. | NXP BV / NXP Funding LLC / NXP USA, Inc. |
| &nbsp;&nbsp; 4.40%, 06/01/2027 | 500000 | 502684 |
| &nbsp;&nbsp; 2.50%, 05/11/2031 | 500000 | 458131 |
|  |  | 3729460 |
| **Software - 3.5%** | **Software - 3.5%** | **Software - 3.5%** |
|  Fidelity National Information Services, Inc., 5.10%, 07/15/2032 | 600000 | 611285 |
| Fiserv, Inc. | Fiserv, Inc. | Fiserv, Inc. |
| &nbsp;&nbsp; 5.63%, 08/21/2033 | 500000 | 517645 |
| &nbsp;&nbsp; 5.25%, 08/11/2035 | 500000 | 500493 |
| Oracle Corp. | Oracle Corp. | Oracle Corp. |
| &nbsp;&nbsp; 4.95%, 02/04/2031 | 1000000 | 999814 |
| &nbsp;&nbsp; 5.50%, 08/03/2035 | 670000 | 662631 |
| &nbsp;&nbsp; 3.65%, 03/25/2041 | 1400000 | 1040663 |
| &nbsp;&nbsp; 3.95%, 03/25/2051 | 1350000 | 894066 |
| &nbsp;&nbsp; 5.55%, 02/06/2053 | 1000000 | 832673 |
|  Roper Technologies, Inc., 1.40%, 09/15/2027 | 650000 | 625567 |
|  |  | 6684837 |
| **Telecommunications - 7.9%** | **Telecommunications - 7.9%** | **Telecommunications - 7.9%** |
| AT&T, Inc. | AT&T, Inc. | AT&T, Inc. |
| &nbsp;&nbsp; 2.30%, 06/01/2027 | 400000 | 392575 |
| &nbsp;&nbsp; 2.55%, 12/01/2033 | 875000 | 759172 |
| &nbsp;&nbsp; 5.13%, 04/30/2036 | 1000000 | 1015303 |
| &nbsp;&nbsp; 3.50%, 09/15/2053 | 2368000 | 1617033 |
| &nbsp;&nbsp; 3.55%, 09/15/2055 | 1196000 | 811190 |
| &nbsp;&nbsp; 3.80%, 12/01/2057 | 727000 | 510476 |
|  British Telecommunications PLC, 9.63%, 12/15/2030 <sup>(b)</sup> | 855000 | 1046579 |
|  Deutsche Telekom International Finance BV, 8.75%, 06/15/2030 <sup>(b)</sup> | 345000 | 404988 |
|  Motorola Solutions, Inc., 5.40%, 04/15/2034 | 500000 | 522986 |
|  Orange SA, 5.38%, 01/13/2042 | 575000 | 573256 |
|  Telefonica Emisiones SA, 7.05%, 06/20/2036 | 475000 | 538045 |
| T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. |
| &nbsp;&nbsp; 3.88%, 04/15/2030 | 1600000 | 1588310 |
| &nbsp;&nbsp; 2.25%, 11/15/2031 | 600000 | 539110 |
| &nbsp;&nbsp; 3.40%, 10/15/2052 | 1100000 | 751583 |
| &nbsp;&nbsp; 5.65%, 01/15/2053 | 500000 | 490593 |
| Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
| &nbsp;&nbsp; 2.55%, 03/21/2031 | 336000 | 311010 |
| &nbsp;&nbsp; 5.40%, 07/02/2037 | 523000 | 538507 |
| &nbsp;&nbsp; 4.86%, 08/21/2046 | 1500000 | 1352659 |
| &nbsp;&nbsp; 3.55%, 03/22/2051 | 1000000 | 725160 |
| &nbsp;&nbsp; 2.99%, 10/30/2056 | 600000 | 366053 |
|  |  | 14854588 |
| **Transportation - 1.1%** | **Transportation - 1.1%** | **Transportation - 1.1%** |
|  FedEx Corp., 3.25%, 05/15/2041 | 1000000 | 789275 |
|  Kirby Corp., 4.20%, 03/01/2028 | 450000 | 451679 |
| Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. |
| &nbsp;&nbsp; 2.30%, 05/15/2031 | 250000 | 228321 |
| &nbsp;&nbsp; 2.90%, 08/25/2051 | 1000000 | 641985 |
|  |  | 2111260 |
| **Trucking & Leasing - 0.2%** | **Trucking & Leasing - 0.2%** | **Trucking & Leasing - 0.2%** |
|  GATX Corp., 1.90%, 06/01/2031 | 500000 | 445212 |
| **Water - 0.3%** | **Water - 0.3%** | **Water - 0.3%** |
|  American Water Capital Corp., 2.80%, 05/01/2030 | 650000 | 622578 |
| **TOTAL CORPORATE BONDS** (Cost $181,047,072) | **TOTAL CORPORATE BONDS** (Cost $181,047,072) | 170442078 |
| **FOREIGN GOVERNMENT DEBT OBLIGATIONS - 6.1%** | **Par**  | **Value**  |
| Indonesia Government International Bond | Indonesia Government International Bond | Indonesia Government International Bond |
| &nbsp;&nbsp; 3.85%, 10/15/2030 | 500000 | 493250 |
| &nbsp;&nbsp; 4.70%, 02/10/2034 | 500000 | 498531 |
| &nbsp;&nbsp; 5.15%, 09/10/2054 | 500000 | 476703 |
| Mexico Government International Bond | Mexico Government International Bond | Mexico Government International Bond |
| &nbsp;&nbsp; 4.50%, 04/22/2029 | 1300000 | 1304810 |
| &nbsp;&nbsp; 5.63%, 02/09/2034 | 200000 | 201996 |
| &nbsp;&nbsp; 6.88%, 05/13/2037 | 200000 | 216040 |
| &nbsp;&nbsp; 4.75%, 03/08/2044 | 2490000 | 2079648 |
| Panama Government International Bond | Panama Government International Bond | Panama Government International Bond |
| &nbsp;&nbsp; 2.25%, 09/29/2032 | 1700000 | 1433695 |
| &nbsp;&nbsp; 6.70%, 01/26/2036 | 750000 | 819263 |
| Peruvian Government International Bond | Peruvian Government International Bond | Peruvian Government International Bond |
| &nbsp;&nbsp; 3.00%, 01/15/2034 | 400000 | 352700 |
| &nbsp;&nbsp; 6.55%, 03/14/2037 | 1050000 | 1175213 |
|  Philippine Government International Bond, 5.00%, 01/13/2037 | 1625000 | 1648746 |
|  Uruguay Government International Bond, 4.38%, 01/23/2031 | 800000 | 814520 |
| **TOTAL FOREIGN GOVERNMENT DEBT OBLIGATIONS** (Cost $12,828,294) | **TOTAL FOREIGN GOVERNMENT DEBT OBLIGATIONS** (Cost $12,828,294) | 11515115 |
| **U.S. TREASURY SECURITIES - 1.7%** | **Par**  | **Value**  |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 4.00%, 11/15/2035 | 1000000 | 1003750 |
| &nbsp;&nbsp; 4.75%, 08/15/2055 | 2200000 | 2240734 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $3,209,243) | **TOTAL U.S. TREASURY SECURITIES** (Cost $3,209,243) | 3244484 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 1.2%** | **Shares**  | **Value**  |
| Fidelity Government Portfolio - Institutional Class, 3.55% <sup>(c)</sup> | 2300011 | 2300011 |
| **TOTAL MONEY MARKET FUNDS** (Cost $2,300,011) | **TOTAL MONEY MARKET FUNDS** (Cost $2,300,011) | 2300011 |
| **TOTAL INVESTMENTS - 99.2% (**Cost $199,384,620**)** | **TOTAL INVESTMENTS - 99.2% (**Cost $199,384,620**)** | 187501688 |
| Other Assets in Excess of Liabilities - 0.8% | Other Assets in Excess of Liabilities - 0.8% | 1423492 |
| **TOTAL NET ASSETS - 100.0%** |  | $188925180 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

REIT - Real Estate Investment Trust<br>

(a) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional
 investors. As of February 28, 2026, the value of these securities total $977,688 or 0.5% of the Fund's net assets.

(b) Step coupon bond. The rate disclosed is as of February 28, 2026.

(c) The rate shown represents the 7-day annualized yield as of February 28, 2026.

------

#### Summary of Fair Value Disclosure as of February 28, 2026 (Unaudited)
PIA BBB Bond Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

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

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | $– | $170442078 | $– | $170442078 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Foreign Government Debt Obligations | – | 11515115 | – | 11515115 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | – | 3244484 | – | 3244484 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 2300011 | – | – | 2300011 |
| Total Investments | $2300011 | $185201677 | $– | $187501688 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Advisors Series Trust

- **b. Investment Company Act file number:** 811-07959

- **c. CIK number of Registrant:** 0001027596

- **d. LEI of Registrant:** 2549003Z0J6URS6I4Y63

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 626-914-7363

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

- **a. Name of Series:** PIA BBB Bond Fund

- **b. EDGAR series identifier (if any):** S000005064

- **c. LEI of Series:** 254900L8F69QXB99WA02

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

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-28

**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:** $188991425.55

**Total Liabilities:** $149289.22

**Net Assets:** $188842136.33

**Cash Not Reported:** $28668.11

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 81.644078000000 | **1-Year:** 6515.080856000000 | **5-Year:** 31439.726914000000 | **10-Year:** 36203.035926000000 | **30-Year:** 37431.290964000000

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

- **3-Month:** 0.000000000000 | **1-Year:** 312.198488000000 | **5-Year:** 2090.758506000000 | **10-Year:** 4894.650224000000 | **30-Year:** 1724.885516000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013849 | -0.15%               | 0.29%                | 1.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11769.39                | $-836401.40                                |
| Month 2  | $0.00                    | $-162897.10                                |
| Month 3  | $0.00                    | $1794539.96                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T INC                      | AT&T Inc                                                                        | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    727000 | PA      | $510475.77    | 0.27%             | 2057-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                  | AutoZone Inc                                                                    | CUSIP: 053332BB7<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507762.02    | 0.27%             | 2032-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                  | Barclays PLC                                                                    | CUSIP: 06738EAW5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1007854.95   | 0.53%             | 2028-05-09      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE               | Cigna Group/The                                                                 | CUSIP: 125523CZ1<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513985.79    | 0.27%             | 2036-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC           | Cardinal Health Inc                                                             | CUSIP: 14149YBJ6<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124326.51    | 0.07%             | 2027-06-15      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP      | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $659695.69    | 0.35%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CHURCH & DWIGHT CO INC        | Church & Dwight Co Inc                                                          | CUSIP: 171340AN2<br>LEI: POOXSI30AWAQGYJZC921 | Long             | DBT              | CORP              | US        |    500000 | PA      | $495868.97    | 0.26%             | 2027-08-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP       | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    124000 | PA      | $124087.82    | 0.07%             | 2026-06-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC             | Expedia Group Inc                                                               | CUSIP: 30212PBL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $505520.61    | 0.27%             | 2035-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP           | Fifth Third Bancorp                                                             | CUSIP: 316773DE7<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500041.22    | 0.26%             | 2028-04-25      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| FORTIVE CORPORATION           | Fortive Corp                                                                    | CUSIP: 34959JAG3<br>LEI: 549300MU9YQJYHDQEF63 | Long             | DBT              | CORP              | US        |    750000 | PA      | $747419.08    | 0.40%             | 2026-06-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| GATX CORP                     | GATX Corp                                                                       | CUSIP: 361448BG7<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    500000 | PA      | $445212.24    | 0.24%             | 2031-06-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO             | General Motors Co                                                               | CUSIP: 37045VAJ9<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    400000 | PA      | $364974.46    | 0.19%             | 2045-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HP INC                        | HP Inc                                                                          | CUSIP: 40434LAN5<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513969.06    | 0.27%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA         | Indonesia Government International Bond                                         | CUSIP: 455780CS3<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    500000 | PA      | $493250.24    | 0.26%             | 2030-10-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA         | Indonesia Government International Bond                                         | CUSIP: 455780DW3<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    500000 | PA      | $476703.13    | 0.25%             | 2054-09-10      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| INTERSTATE POWER & LIGHT      | Interstate Power and Light Co                                                   | CUSIP: 461070AX2<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |    500000 | PA      | $526703.25    | 0.28%             | 2035-06-29      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| KENNAMETAL INC                | Kennametal Inc                                                                  | CUSIP: 489170AF7<br>LEI: 549300GZDSG25XUV0Y08 | Long             | DBT              | CORP              | US        |    330000 | PA      | $307534.65    | 0.16%             | 2031-03-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                   | Nutrien Ltd                                                                     | CUSIP: 67077MAW8<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    700000 | PA      | $668783.61    | 0.35%             | 2030-05-13      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS      | Omega Healthcare Investors Inc                                                  | CUSIP: 681936BN9<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $903400.86    | 0.48%             | 2033-04-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA            | Panama Government International Bond                                            | CUSIP: 698299BN3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   1700000 | PA      | $1433695.00   | 0.76%             | 2032-09-29      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SABRA HEALTH CARE LP          | Sabra Health Care LP                                                            | CUSIP: 78572XAG6<br>LEI: 549300OVKLRFSIQG0H81 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986509.69    | 0.52%             | 2029-10-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD               | Sands China Ltd                                                                 | CUSIP: 80007RAN5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $982179.80    | 0.52%             | 2027-03-08      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS      | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAH5<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $979951.04    | 0.52%             | 2054-10-01      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC            | Steel Dynamics Inc                                                              | CUSIP: 858119BS8<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513997.68    | 0.27%             | 2035-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRACTOR SUPPLY CO             | Tractor Supply Co                                                               | CUSIP: 892356AA4<br>LEI: 549300OJ9VZHZRO6I137 | Long             | DBT              | CORP              | US        |    500000 | PA      | $448051.12    | 0.24%             | 2030-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY CORP            | Valero Energy Corp                                                              | CUSIP: 91913YAL4<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    655000 | PA      | $737187.59    | 0.39%             | 2037-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS        | Verizon Communications Inc                                                      | CUSIP: 92343VGB4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $725160.41    | 0.38%             | 2051-03-22      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| WRKCO INC                     | WRKCo Inc                                                                       | CUSIP: 92940PAE4<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499918.56    | 0.26%             | 2028-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP       | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $537430.39    | 0.28%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| EL PASO ELECTRIC CO           | El Paso Electric Co                                                             | CUSIP: 283677AW2<br>LEI: OZ8GM8L4AHPKSWZMW205 | Long             | DBT              | CORP              | US        |    850000 | PA      | $895668.03    | 0.47%             | 2035-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP           | Fifth Third Bancorp                                                             | CUSIP: 316773CH1<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    225000 | PA      | $279106.88    | 0.15%             | 2038-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| FISERV INC                    | Fiserv Inc                                                                      | CUSIP: 337738BQ0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500492.87    | 0.27%             | 2035-08-11      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC      | Ford Motor Credit Co LLC                                                        | CUSIP: 345397D59<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $527242.38    | 0.28%             | 2028-11-07      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC             | General Mills Inc                                                               | CUSIP: 370334CQ5<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    700000 | PA      | $629203.64    | 0.33%             | 2031-10-14      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO        | General Motors Financial Co Inc                                                 | CUSIP: 37045XCY0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1263721.93   | 0.67%             | 2030-06-21      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| HCA INC                       | HCA Inc                                                                         | CUSIP: 404119BX6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001785.54   | 0.53%             | 2029-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION          | M&T Bank Corp                                                                   | CUSIP: 55261FAT1<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    500000 | PA      | $535281.17    | 0.28%             | 2032-03-13      | Variable      | 6.08%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL        | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCU2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    600000 | PA      | $622009.34    | 0.33%             | 2034-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                     | ONEOK Inc                                                                       | CUSIP: 682680BG7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $540292.46    | 0.29%             | 2032-11-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                     | ONEOK Inc                                                                       | CUSIP: 682680CF8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $472118.45    | 0.25%             | 2054-11-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                   | Oracle Corp                                                                     | CUSIP: 68389XCQ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $832672.66    | 0.44%             | 2053-02-06      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                   | Oracle Corp                                                                     | CUSIP: 68389XDA0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    670000 | PA      | $662630.75    | 0.35%             | 2035-08-03      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE      | Plains All American Pipeline LP / PAA Finance Corp                              | CUSIP: 72650RBN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    546000 | PA      | $536433.37    | 0.28%             | 2030-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL              | Paramount Global                                                                | CUSIP: 92553PAP7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    610000 | PA      | $382895.94    | 0.20%             | 2043-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC      | Corebridge Financial Inc                                                        | CUSIP: 21871XAR0<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    500000 | PA      | $533792.72    | 0.28%             | 2033-09-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA      | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1500000 | PA      | $1402562.06   | 0.74%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC              | Altria Group Inc                                                                | CUSIP: 02209SBD4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    148000 | PA      | $151268.09    | 0.08%             | 2029-02-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP               | CVS Health Corp                                                                 | CUSIP: 126650EF3<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    500000 | PA      | $503043.83    | 0.27%             | 2054-06-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE TELEKOM INT FIN      | Deutsche Telekom International Finance BV                                       | CUSIP: 25156PAC7<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |    345000 | PA      | $404988.41    | 0.21%             | 2030-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC        | Diamondback Energy Inc                                                          | CUSIP: 25278XAR0<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    500000 | PA      | $474595.57    | 0.25%             | 2031-03-24      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC             | Healthpeak OP LLC                                                               | CUSIP: 42250PAD5<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |    350000 | PA      | $333099.43    | 0.18%             | 2028-12-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| DISCOVERY HOLDINGS INC        | Discovery Global Holdings Inc                                                   | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    581000 | PA      | $533793.75    | 0.28%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP               | McDonald's Corp                                                                 | CUSIP: 58013MFA7<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    550000 | PA      | $511738.93    | 0.27%             | 2045-12-09      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                   | MetLife Inc                                                                     | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    855000 | PA      | $894972.11    | 0.47%             | 2036-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC        | Pacific Gas and Electric Co                                                     | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $3456343.20   | 1.83%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA            | Panama Government International Bond                                            | CUSIP: 698299AW4<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    750000 | PA      | $819262.50    | 0.43%             | 2036-01-26      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU              | Peruvian Government International Bond                                          | CUSIP: 715638DU3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    400000 | PA      | $352700.00    | 0.19%             | 2034-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FISERV INC                    | Fiserv Inc                                                                      | CUSIP: 337738BH0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    500000 | PA      | $517644.92    | 0.27%             | 2033-08-21      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC      | Ford Motor Credit Co LLC                                                        | CUSIP: 345397E66<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $517000.47    | 0.27%             | 2034-03-08      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC        | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAH6<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $531606.40    | 0.28%             | 2030-03-15      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY CORP            | Valero Energy Corp                                                              | CUSIP: 91913YBC3<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    750000 | PA      | $694474.49    | 0.37%             | 2031-12-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO      | British Telecommunications PLC                                                  | CUSIP: 111021AE1<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    855000 | PA      | $1046579.15   | 0.55%             | 2030-12-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| ORANGE SA                     | Orange SA                                                                       | CUSIP: 35177PAX5<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    575000 | PA      | $573256.07    | 0.30%             | 2042-01-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA         | Indonesia Government International Bond                                         | CUSIP: 455780DU7<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    500000 | PA      | $498531.31    | 0.26%             | 2034-02-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES       | Philippine Government International Bond                                        | CUSIP: 718286BW6<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   1625000 | PA      | $1648745.80   | 0.87%             | 2037-01-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RTX CORP                      | RTX Corp                                                                        | CUSIP: 75513ECK5<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $866335.83    | 0.46%             | 2047-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO           | Sherwin-Williams Co/The                                                         | CUSIP: 824348BN5<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    600000 | PA      | $532963.28    | 0.28%             | 2032-03-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC              | T-Mobile USA Inc                                                                | CUSIP: 87264ACT0<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $751582.73    | 0.40%             | 2052-10-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP          | Targa Resources Corp                                                            | CUSIP: 87612KAA0<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    500000 | PA      | $508193.02    | 0.27%             | 2027-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE ENTRMN      | Time Warner Cable Enterprises LLC                                               | CUSIP: 88731EAJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    810000 | PA      | $947524.24    | 0.50%             | 2033-07-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B               | United States Treasury Note/Bond                                                | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1003750.00   | 0.53%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS        | Verizon Communications Inc                                                      | CUSIP: 92343VGJ7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    336000 | PA      | $311009.45    | 0.16%             | 2031-03-21      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP          | Westpac Banking Corp                                                            | CUSIP: 961214EY5<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    300000 | PA      | $232951.39    | 0.12%             | 2041-11-18      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC               | Xcel Energy Inc                                                                 | CUSIP: 98388MAC1<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    500000 | PA      | $451278.98    | 0.24%             | 2031-11-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| SOUTHERN COPPER CORP          | Southern Copper Corp                                                            | CUSIP: 84265VAE5<br>LEI: 2549007U6NAP46Q9TU15 | Long             | DBT              | CORP              | US        |    750000 | PA      | $861945.00    | 0.46%             | 2040-04-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SUNCOR ENERGY INC             | Suncor Energy Inc                                                               | CUSIP: 867224AE7<br>LEI: 894500XO86FKXQGPYV71 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $367001.41    | 0.19%             | 2051-03-04      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL           | Synchrony Financial                                                             | CUSIP: 87165BAX1<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506731.57    | 0.27%             | 2029-07-29      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP          | Targa Resources Corp                                                            | CUSIP: 87612GAP6<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513717.70    | 0.27%             | 2030-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AT&T INC                      | AT&T Inc                                                                        | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   2368000 | PA      | $1617032.70   | 0.86%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AT&T INC                      | AT&T Inc                                                                        | CUSIP: 00206RNH1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015302.78   | 0.54%             | 2036-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AON CORP                      | Aon Corp                                                                        | CUSIP: 037389BE2<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |    600000 | PA      | $569443.26    | 0.30%             | 2030-05-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP              | BAT Capital Corp                                                                | CUSIP: 05526DBF1<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    400000 | PA      | $338369.37    | 0.18%             | 2047-08-15      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II       | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $228280.43    | 0.12%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC        | Roper Technologies Inc                                                          | CUSIP: 776743AN6<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    650000 | PA      | $625566.85    | 0.33%             | 2027-09-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| SEMPRA                        | Sempra                                                                          | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    600000 | PA      | $592660.92    | 0.31%             | 2052-04-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                | Starbucks Corp                                                                  | CUSIP: 855244AZ2<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $935171.16    | 0.50%             | 2030-11-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC             | Store Capital LLC                                                               | CUSIP: 862123AB2<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1028416.70   | 0.54%             | 2030-04-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| TEXTRON INC                   | Textron Inc                                                                     | CUSIP: 883203CD1<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |    500000 | PA      | $547875.96    | 0.29%             | 2033-11-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS        | Verizon Communications Inc                                                      | CUSIP: 92343VCK8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1352659.16   | 0.72%             | 2046-08-21      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                 | AEP Texas Inc                                                                   | CUSIP: 00108WAS9<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |    500000 | PA      | $521469.05    | 0.28%             | 2029-05-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C      | American Water Capital Corp                                                     | CUSIP: 03040WAW5<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    650000 | PA      | $622577.83    | 0.33%             | 2030-05-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTERNATIONAL        | American International Group Inc                                                | CUSIP: 026874DX2<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $521870.85    | 0.28%             | 2035-05-07      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                     | Amgen Inc                                                                       | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1048450.89   | 0.56%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP               | CVS Health Corp                                                                 | CUSIP: 126650CZ1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $892639.63    | 0.47%             | 2048-03-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC         | Amrize Finance US LLC                                                           | CUSIP: 43475RAT3<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    500000 | PA      | $523237.99    | 0.28%             | 2035-04-07      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| KROGER CO                     | Kroger Co/The                                                                   | CUSIP: 501044DW8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    500000 | PA      | $483752.16    | 0.26%             | 2054-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL        | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCH1<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    500000 | PA      | $505122.57    | 0.27%             | 2027-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                  | NiSource Inc                                                                    | CUSIP: 65473PAQ8<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    250000 | PA      | $261160.58    | 0.14%             | 2034-04-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORP         | Norfolk Southern Corp                                                           | CUSIP: 655844CK2<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    250000 | PA      | $228320.77    | 0.12%             | 2031-05-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| OLD REPUBLIC INTL CORP        | Old Republic International Corp                                                 | CUSIP: 680223AM6<br>LEI: 549300IV6O2YY2A1KH37 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1048643.15   | 0.56%             | 2034-03-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EMISIONES SAU      | Telefonica Emisiones SA                                                         | CUSIP: 87938WAC7<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    475000 | PA      | $538045.21    | 0.28%             | 2036-06-20      | Fixed         | 7.04%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                     | Amgen Inc                                                                       | CUSIP: 031162DA5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    500000 | PA      | $375998.32    | 0.20%             | 2041-08-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                     | Amgen Inc                                                                       | CUSIP: 031162DT4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499618.04    | 0.26%             | 2053-03-02      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU      | Ares Strategic Income Fund                                                      | CUSIP: 04020EAU1<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492031.31    | 0.26%             | 2031-04-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                  | Barclays PLC                                                                    | CUSIP: 06738EBW4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    700000 | PA      | $545976.77    | 0.29%             | 2042-11-24      | Variable      | 3.33%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO         | Becton Dickinson & Co                                                           | CUSIP: 075887BG3<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    550000 | PA      | $506479.24    | 0.27%             | 2044-12-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| BIOGEN INC                    | Biogen Inc                                                                      | CUSIP: 09062XAH6<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |    700000 | PA      | $649858.93    | 0.34%             | 2030-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE        | Blackstone Private Credit Fund                                                  | CUSIP: 09261HBN6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504547.97    | 0.27%             | 2029-07-16      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP               | CVS Health Corp                                                                 | CUSIP: 126650DJ6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2150000 | PA      | $2117334.36   | 1.12%             | 2030-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION      | Devon Energy Corp                                                               | CUSIP: 25179MBG7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1025642.09   | 0.54%             | 2034-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS      | Discovery Communications LLC                                                    | CUSIP: 25470DCC1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $971250.00    | 0.51%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                   | Equinix Inc                                                                     | CUSIP: 29444UBU9<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96917.62     | 0.05%             | 2032-04-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                    | FedEx Corp                                                                      | CUSIP: 31428XDL7<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $789274.83    | 0.42%             | 2041-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                    | Intel Corp                                                                      | CUSIP: 458140CG3<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1546961.60   | 0.82%             | 2033-02-10      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DISCOVERY HOLDINGS INC        | Discovery Global Holdings Inc                                                   | CUSIP: 55903VBU6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    210000 | PA      | $140175.00    | 0.07%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP         | Blue Owl Capital Corp                                                           | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499166.00    | 0.26%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| RTX CORP                      | RTX Corp                                                                        | CUSIP: 75513ECH2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997581.02    | 0.53%             | 2027-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC            | Royalty Pharma PLC                                                              | CUSIP: 78081BAN3<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $447174.97    | 0.24%             | 2031-09-02      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ELEC POWER       | Southwestern Electric Power Co                                                  | CUSIP: 845437BT8<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |    400000 | PA      | $266768.38    | 0.14%             | 2051-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC              | T-Mobile USA Inc                                                                | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1588310.21   | 0.84%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC              | T-Mobile USA Inc                                                                | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    600000 | PA      | $539109.99    | 0.29%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES         | Mexico Government International Bond                                            | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $216040.00    | 0.11%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES         | Mexico Government International Bond                                            | CUSIP: 91087BBQ2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $201996.00    | 0.11%             | 2034-02-09      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED         | Vale Overseas Ltd                                                               | CUSIP: 91911TAR4<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |    500000 | PA      | $540312.50    | 0.29%             | 2033-06-12      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| VENTAS REALTY LP              | Ventas Realty LP                                                                | CUSIP: 92277GAX5<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |    600000 | PA      | $632914.11    | 0.34%             | 2034-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC           | Elevance Health Inc                                                             | CUSIP: 94973VBK2<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    600000 | PA      | $536697.22    | 0.28%             | 2044-08-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                  | Stryker Corp                                                                    | CUSIP: 863667AY7<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    700000 | PA      | $643493.89    | 0.34%             | 2030-06-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES         | TransCanada PipeLines Ltd                                                       | CUSIP: 89352HBA6<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |   1100000 | PA      | $1098772.22   | 0.58%             | 2030-04-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS        | Verizon Communications Inc                                                      | CUSIP: 92343VFW9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    600000 | PA      | $366053.02    | 0.19%             | 2056-10-30      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| VULCAN MATERIALS CO           | Vulcan Materials Co                                                             | CUSIP: 929160AT6<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    620000 | PA      | $620459.89    | 0.33%             | 2027-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP              | Duke Energy Corp                                                                | CUSIP: 26441CBH7<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    950000 | PA      | $890954.17    | 0.47%             | 2030-06-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL INFO SERV       | Fidelity National Information Services Inc                                      | CUSIP: 31620MBY1<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |    600000 | PA      | $611285.60    | 0.32%             | 2032-07-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP              | FirstEnergy Corp                                                                | CUSIP: 337932AP2<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    700000 | PA      | $643710.13    | 0.34%             | 2030-09-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO        | General Motors Financial Co Inc                                                 | CUSIP: 37045XDE3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1366619.81   | 0.72%             | 2031-01-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC       | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GFD1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    950000 | PA      | $1067446.95   | 0.57%             | 2037-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL PAPER CO        | International Paper Co                                                          | CUSIP: 460146CH4<br>LEI: 824LMFJDH41EY779Q875 | Long             | DBT              | CORP              | US        |    700000 | PA      | $730537.61    | 0.39%             | 2041-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E      | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AV1<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |    650000 | PA      | $541103.12    | 0.29%             | 2033-02-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER       | American Electric Power Co Inc                                                  | CUSIP: 025537AW1<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    500000 | PA      | $540978.44    | 0.29%             | 2032-11-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP           | American Tower Corp                                                             | CUSIP: 03027XBG4<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $903494.19    | 0.48%             | 2030-10-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP              | BAT Capital Corp                                                                | CUSIP: 05526DBV6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    800000 | PA      | $771002.51    | 0.41%             | 2052-03-16      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC        | CNH Industrial Capital LLC                                                      | CUSIP: 12592BAS3<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    500000 | PA      | $514410.27    | 0.27%             | 2029-04-20      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CNA FINANCIAL CORP            | CNA Financial Corp                                                              | CUSIP: 126117AY6<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |    500000 | PA      | $508284.02    | 0.27%             | 2034-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP               | CVS Health Corp                                                                 | CUSIP: 126650CN8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    500000 | PA      | $458015.25    | 0.24%             | 2045-07-20      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES       | Canadian Natural Resources Ltd                                                  | CUSIP: 136385AY7<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    700000 | PA      | $639499.34    | 0.34%             | 2047-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO      | Capital One Financial Corp                                                      | CUSIP: 14040HCE3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1395900.83   | 0.74%             | 2027-05-11      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                 | Citigroup Inc                                                                   | CUSIP: 172967KA8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    700000 | PA      | $704516.93    | 0.37%             | 2027-09-29      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD FINANCL CORP      | Fifth Third Financial Corp                                                      | CUSIP: 200340AW7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $524269.69    | 0.28%             | 2030-01-30      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC      | Constellation Brands Inc                                                        | CUSIP: 21036PBF4<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    700000 | PA      | $665977.53    | 0.35%             | 2030-05-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION EN GEN LLC      | Constellation Energy Generation LLC                                             | CUSIP: 210385AF7<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251470.94    | 0.13%             | 2054-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC      | Corebridge Financial Inc                                                        | CUSIP: 21871XAH2<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    500000 | PA      | $476250.54    | 0.25%             | 2032-04-05      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| COPT DEFENSE PROP LP          | COPT Defense Properties LP                                                      | CUSIP: 22003BAM8<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |    500000 | PA      | $462358.37    | 0.24%             | 2031-04-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC              | Crown Castle Inc                                                                | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497828.41    | 0.26%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC              | Crown Castle Inc                                                                | CUSIP: 22822VAT8<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    600000 | PA      | $543267.12    | 0.29%             | 2031-01-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP       | Dell International LLC / EMC Corp                                               | CUSIP: 24703DBH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    181000 | PA      | $127151.30    | 0.07%             | 2051-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC           | Dominion Energy Inc                                                             | CUSIP: 25746UBM0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    470000 | PA      | $439852.28    | 0.23%             | 2041-08-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                  | Enbridge Inc                                                                    | CUSIP: 29250NCD5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $516138.43    | 0.27%             | 2054-04-05      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP            | Energy Transfer LP                                                              | CUSIP: 29273VAW0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    500000 | PA      | $483780.44    | 0.26%             | 2054-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                   | Equinix Inc                                                                     | CUSIP: 29444UBL9<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |    500000 | PA      | $477203.83    | 0.25%             | 2028-03-15      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC      | Ford Motor Credit Co LLC                                                        | CUSIP: 345397D67<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1093080.15   | 0.58%             | 2033-11-07      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC      | Ford Motor Credit Co LLC                                                        | CUSIP: 345397YT4<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496266.75    | 0.26%             | 2027-11-02      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC           | Global Payments Inc                                                             | CUSIP: 37940XAE2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500000.00    | 0.26%             | 2026-03-01      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC           | Global Payments Inc                                                             | CUSIP: 37940XAW2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499837.81    | 0.26%             | 2030-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC             | L3Harris Technologies Inc                                                       | CUSIP: 413875AN5<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    500000 | PA      | $553771.58    | 0.29%             | 2040-12-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO              | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824CBU2<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015340.04   | 0.54%             | 2031-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC          | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAJ9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $959436.41    | 0.51%             | 2030-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENER PART       | Kinder Morgan Energy Partners LP                                                | CUSIP: 494550AT3<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1358583.95   | 0.72%             | 2035-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC             | Kinder Morgan Inc                                                               | CUSIP: 49456BAH4<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    700000 | PA      | $692804.76    | 0.37%             | 2045-06-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC             | Kinder Morgan Inc                                                               | CUSIP: 49456BAR2<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    600000 | PA      | $544341.11    | 0.29%             | 2031-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| KIRBY CORPORATION             | Kirby Corp                                                                      | CUSIP: 497266AC0<br>LEI: I7NO6FZO5GUCG585T325 | Long             | DBT              | CORP              | US        |    450000 | PA      | $451678.67    | 0.24%             | 2028-03-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO          | Kraft Heinz Foods Co                                                            | CUSIP: 50077LAZ9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    600000 | PA      | $518126.36    | 0.27%             | 2049-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO          | Kraft Heinz Foods Co                                                            | CUSIP: 50077LBM7<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    500000 | PA      | $518790.45    | 0.27%             | 2032-03-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP         | Lincoln National Corp                                                           | CUSIP: 534187BH1<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118957.34    | 0.06%             | 2028-03-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC      | Lloyds Banking Group PLC                                                        | CUSIP: 53944YAB9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    800000 | PA      | $800300.28    | 0.42%             | 2026-03-24      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                | Lowe's Cos Inc                                                                  | CUSIP: 548661DY0<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    500000 | PA      | $449841.67    | 0.24%             | 2030-10-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL        | Marriott International Inc/MD                                                   | CUSIP: 571903BL6<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513116.14    | 0.27%             | 2029-04-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL        | Mondelez International Inc                                                      | CUSIP: 609207AX3<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $440894.27    | 0.23%             | 2031-02-04      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| MOODY'S CORPORATION           | Moody's Corp                                                                    | CUSIP: 615369AW5<br>LEI: 549300GCEDD8YCF5WU84 | Long             | DBT              | CORP              | US        |    250000 | PA      | $224663.68    | 0.12%             | 2031-08-19      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA        | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HBA5<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    500000 | PA      | $458131.35    | 0.24%             | 2031-05-11      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NASDAQ INC                    | Nasdaq Inc                                                                      | CUSIP: 63111XAJ0<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |    500000 | PA      | $527027.44    | 0.28%             | 2034-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL        | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KBR0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    400000 | PA      | $371401.44    | 0.20%             | 2030-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                  | NiSource Inc                                                                    | CUSIP: 65473QBB8<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    400000 | PA      | $390471.57    | 0.21%             | 2043-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORP         | Norfolk Southern Corp                                                           | CUSIP: 655844CL0<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $641985.51    | 0.34%             | 2051-08-25      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR      | Occidental Petroleum Corp                                                       | CUSIP: 674599EL5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1042945.00   | 0.55%             | 2034-10-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                   | Oracle Corp                                                                     | CUSIP: 68389XCA1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $894066.24    | 0.47%             | 2051-03-25      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                   | Oracle Corp                                                                     | CUSIP: 68389XDX0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999814.44    | 0.53%             | 2031-02-04      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU              | Peruvian Government International Bond                                          | CUSIP: 715638AU6<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   1050000 | PA      | $1175212.50   | 0.62%             | 2037-03-14      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA        | Santander Holdings USA Inc                                                      | CUSIP: 80282KBL9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1077742.45   | 0.57%             | 2035-05-31      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS        | Verizon Communications Inc                                                      | CUSIP: 92343VHC1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    523000 | PA      | $538507.39    | 0.29%             | 2037-07-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                   | Viatris Inc                                                                     | CUSIP: 92556VAD8<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |    600000 | PA      | $554360.24    | 0.29%             | 2030-06-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                    | Zoetis Inc                                                                      | CUSIP: 98978VAS2<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    600000 | PA      | $554443.84    | 0.29%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| AT&T INC                      | AT&T Inc                                                                        | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1196000 | PA      | $811190.40    | 0.43%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| AT&T INC                      | AT&T Inc                                                                        | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    875000 | PA      | $759171.88    | 0.40%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                    | AbbVie Inc                                                                      | CUSIP: 00287YDB2<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    268000 | PA      | $249498.08    | 0.13%             | 2045-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC            | Ally Financial Inc                                                              | CUSIP: 02005NBP4<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    500000 | PA      | $476200.65    | 0.25%             | 2028-11-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC              | Altria Group Inc                                                                | CUSIP: 02209SBJ1<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    800000 | PA      | $779612.70    | 0.41%             | 2030-05-06      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| AMCOR FLEXIBLES NORTH AM      | Amcor Flexibles North America Inc                                               | CUSIP: 02344AAG3<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |    500000 | PA      | $518062.42    | 0.27%             | 2030-03-17      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                     | Amgen Inc                                                                       | CUSIP: 031162CF5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1006000 | PA      | $879213.25    | 0.47%             | 2051-06-15      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP             | Ares Capital Corp                                                               | CUSIP: 04010LBH5<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997319.63    | 0.53%             | 2032-03-08      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| AT&T INC                      | AT&T Inc                                                                        | CUSIP: 00206RJX1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    400000 | PA      | $392574.88    | 0.21%             | 2027-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC      | Agilent Technologies Inc                                                        | CUSIP: 00846UAN1<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |    215000 | PA      | $196557.77    | 0.10%             | 2031-03-12      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                | Air Lease Corp                                                                  | CUSIP: 00914AAU6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1021481.46   | 0.54%             | 2028-02-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BOARDWALK PIPELINES LP        | Boardwalk Pipelines LP                                                          | CUSIP: 096630AJ7<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |    500000 | PA      | $473410.94    | 0.25%             | 2032-09-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC            | Conagra Brands Inc                                                              | CUSIP: 205887AR3<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1391019.84   | 0.74%             | 2028-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                  | Enbridge Inc                                                                    | CUSIP: 29250NBE4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $174842.95    | 0.09%             | 2051-08-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                   | Exelon Corp                                                                     | CUSIP: 30161NBN0<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    600000 | PA      | $630407.00    | 0.33%             | 2034-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP              | BAT Capital Corp                                                                | CUSIP: 05526DBR5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $967740.60    | 0.51%             | 2028-03-25      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                  | Barclays PLC                                                                    | CUSIP: 06738ECA1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1059079.89   | 0.56%             | 2033-08-09      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP              | Black Hills Corp                                                                | CUSIP: 092113AX7<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |    500000 | PA      | $540440.21    | 0.29%             | 2035-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO                     | Boeing Co/The                                                                   | CUSIP: 097023CV5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1458804.47   | 0.77%             | 2040-05-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| BOEING CO                     | Boeing Co/The                                                                   | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    950000 | PA      | $984332.06    | 0.52%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP        | Bunge Ltd Finance Corp                                                          | CUSIP: 120568AZ3<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    600000 | PA      | $598837.61    | 0.32%             | 2027-09-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP           | Carrier Global Corp                                                             | CUSIP: 14448CAL8<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    240000 | PA      | $225029.43    | 0.12%             | 2031-02-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL CO/THE           | Dow Chemical Co/The                                                             | CUSIP: 260543BJ1<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |    170000 | PA      | $187123.44    | 0.10%             | 2029-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL CO/THE           | Dow Chemical Co/The                                                             | CUSIP: 260543DH3<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513821.08    | 0.27%             | 2053-05-15      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP              | Duke Energy Corp                                                                | CUSIP: 26441CBM6<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $782271.66    | 0.41%             | 2041-06-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| DUPONT DE NEMOURS INC         | DuPont de Nemours Inc                                                           | CUSIP: 26614NAC6<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |    432000 | PA      | $438183.87    | 0.23%             | 2028-11-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| EBAY INC                      | eBay Inc                                                                        | CUSIP: 278642AY9<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |    500000 | PA      | $461381.50    | 0.24%             | 2031-05-10      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                  | Enbridge Inc                                                                    | CUSIP: 29250NCN3<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $505492.92    | 0.27%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP            | Energy Transfer LP                                                              | CUSIP: 29273VAZ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1245091.36   | 0.66%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP            | Energy Transfer LP                                                              | CUSIP: 29278NAR4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $856562.34    | 0.45%             | 2050-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER      | Enterprise Products Operating LLC                                               | CUSIP: 29379VCB7<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $341248.64    | 0.18%             | 2053-02-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                   | Equifax Inc                                                                     | CUSIP: 294429AS4<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |    500000 | PA      | $477606.94    | 0.25%             | 2030-05-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP        | Extra Space Storage LP                                                          | CUSIP: 30225VAR8<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $533563.71    | 0.28%             | 2031-01-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Fidelity Government Portfolio | Fidelity Government Portfolio                                                   | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   1752951 | NS      | $1752951.24   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS FINL CO        | General Motors Financial Co Inc                                                 | CUSIP: 37045XFG6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    500000 | PA      | $525855.54    | 0.28%             | 2032-04-04      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC       | Jefferies Financial Group Inc                                                   | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    500000 | PA      | $523215.28    | 0.28%             | 2034-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP         | Lincoln National Corp                                                           | CUSIP: 534187BT5<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |    500000 | PA      | $516717.64    | 0.27%             | 2034-03-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                | Lowe's Cos Inc                                                                  | CUSIP: 548661EM5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $985773.79    | 0.52%             | 2053-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MPLX LP                       | MPLX LP                                                                         | CUSIP: 55336VBN9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    515000 | PA      | $517657.62    | 0.27%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MPLX LP                       | MPLX LP                                                                         | CUSIP: 55336VBT6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    600000 | PA      | $516647.05    | 0.27%             | 2052-03-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC         | Micron Technology Inc                                                           | CUSIP: 595112BS1<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    250000 | PA      | $228718.75    | 0.12%             | 2032-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| MOODY'S CORPORATION           | Moody's Corp                                                                    | CUSIP: 615369AX3<br>LEI: 549300GCEDD8YCF5WU84 | Long             | DBT              | CORP              | US        |    250000 | PA      | $154765.83    | 0.08%             | 2061-11-29      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                   | Oracle Corp                                                                     | CUSIP: 68389XBZ7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1040663.13   | 0.55%             | 2041-03-25      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC      | Prudential Financial Inc                                                        | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    500000 | PA      | $491583.00    | 0.26%             | 2052-03-01      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                | Solventum Corp                                                                  | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    500000 | PA      | $522557.94    | 0.28%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO         | Southwest Airlines Co                                                           | CUSIP: 844741BK3<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $505919.90    | 0.27%             | 2027-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION             | Sysco Corp                                                                      | CUSIP: 871829BL0<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    464000 | PA      | $494097.77    | 0.26%             | 2030-04-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B               | United States Treasury Note/Bond                                                | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1200000 | PA      | $1222218.74   | 0.65%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY      | Uruguay Government International Bond                                           | CUSIP: 917288BK7<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    800000 | PA      | $814520.00    | 0.43%             | 2031-01-23      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE        | Westinghouse Air Brake Technologies Corp                                        | CUSIP: 960386AR1<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |    500000 | PA      | $530493.94    | 0.28%             | 2034-03-11      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO               | Weyerhaeuser Co                                                                 | CUSIP: 962166BR4<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              | CORP              | US        |    226000 | PA      | $259441.73    | 0.14%             | 2032-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC        | Williams Cos Inc/The                                                            | CUSIP: 96949LAC9<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    500000 | PA      | $468470.85    | 0.25%             | 2045-09-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BOSTON PROPERTIES LP          | Boston Properties LP                                                            | CUSIP: 10112RBD5<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    675000 | PA      | $636243.83    | 0.34%             | 2031-01-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP      | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $874243.79    | 0.46%             | 2032-02-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| GENUINE PARTS CO              | Genuine Parts Co                                                                | CUSIP: 372460AA3<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |    500000 | PA      | $441541.34    | 0.23%             | 2030-11-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| HCA INC                       | HCA Inc                                                                         | CUSIP: 404119CS6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    600000 | PA      | $522415.89    | 0.28%             | 2042-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC             | HSBC Holdings PLC                                                               | CUSIP: 404280EC9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1100000 | PA      | $1261247.76   | 0.67%             | 2034-11-13      | Variable      | 7.40%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                | Morgan Stanley                                                                  | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    900000 | PA      | $796942.76    | 0.42%             | 2036-09-16      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC        | Motorola Solutions Inc                                                          | CUSIP: 620076BZ1<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    500000 | PA      | $522985.55    | 0.28%             | 2034-04-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA        | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HBE7<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    500000 | PA      | $502684.32    | 0.27%             | 2027-06-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC           | Nomura Holdings Inc                                                             | CUSIP: 65535HAY5<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |   1000000 | PA      | $957717.00    | 0.51%             | 2028-07-14      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP         | Northrop Grumman Corp                                                           | CUSIP: 666807CJ9<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    500000 | PA      | $460883.09    | 0.24%             | 2053-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC             | Store Capital LLC                                                               | CUSIP: 862121AA8<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |    810000 | PA      | $813597.53    | 0.43%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION             | Sysco Corp                                                                      | CUSIP: 871829BR7<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    400000 | PA      | $270910.30    | 0.14%             | 2051-12-14      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| SYSTEM ENERGY RESOURCES       | System Energy Resources Inc                                                     | CUSIP: 871911AV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $510828.56    | 0.27%             | 2034-12-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC              | T-Mobile USA Inc                                                                | CUSIP: 87264ACW3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $490593.07    | 0.26%             | 2053-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| TYSON FOODS INC               | Tyson Foods Inc                                                                 | CUSIP: 902494BK8<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    600000 | PA      | $605853.32    | 0.32%             | 2029-03-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES         | Mexico Government International Bond                                            | CUSIP: 91086QBB3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   2490000 | PA      | $2079648.00   | 1.10%             | 2044-03-08      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES         | Mexico Government International Bond                                            | CUSIP: 91087BAF7<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1300000 | PA      | $1304810.00   | 0.69%             | 2029-04-22      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC           | Elevance Health Inc                                                             | CUSIP: 036752AW3<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    500000 | PA      | $528127.39    | 0.28%             | 2032-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                  | Broadcom Inc                                                                    | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     55000 | PA      | $47472.78     | 0.03%             | 2036-11-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE               | Cigna Group/The                                                                 | CUSIP: 125523CK4<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    600000 | PA      | $425525.92    | 0.23%             | 2050-03-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP      | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $910837.45    | 0.48%             | 2031-04-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                 | Citigroup Inc                                                                   | CUSIP: 172967HS3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    540000 | PA      | $525072.74    | 0.28%             | 2044-05-06      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP      | Citizens Financial Group Inc                                                    | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    500000 | PA      | $522961.41    | 0.28%             | 2030-01-23      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY              | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526DA4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1000000 | PA      | $1033163.29   | 0.55%             | 2031-05-09      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC           | Dominion Energy Inc                                                             | CUSIP: 25746UDL0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    500000 | PA      | $451784.95    | 0.24%             | 2031-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC           | Elevance Health Inc                                                             | CUSIP: 28622HAC5<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $912798.55    | 0.48%             | 2053-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY             | Eversource Energy                                                               | CUSIP: 30040WAL2<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    500000 | PA      | $459734.70    | 0.24%             | 2031-03-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL FINANCIAL       | Fidelity National Financial Inc                                                 | CUSIP: 31620RAK1<br>LEI: 549300CAZYIH39SYQ287 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1798876.88   | 0.95%             | 2031-03-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| HCA INC                       | HCA Inc                                                                         | CUSIP: 404119CU1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1051702.83   | 0.56%             | 2034-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| HALLIBURTON CO                | Halliburton Co                                                                  | CUSIP: 406216BL4<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $958843.88    | 0.51%             | 2030-03-01      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                    | Humana Inc                                                                      | CUSIP: 444859BN1<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507281.55    | 0.27%             | 2030-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP             | Hyatt Hotels Corp                                                               | CUSIP: 448579AV4<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    500000 | PA      | $528467.73    | 0.28%             | 2032-03-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| IDEX CORP                     | IDEX Corp                                                                       | CUSIP: 45167RAG9<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $957485.88    | 0.51%             | 2030-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                    | Intel Corp                                                                      | CUSIP: 458140CM0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $945491.21    | 0.50%             | 2054-02-21      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC          | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAR1<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    500000 | PA      | $413946.82    | 0.22%             | 2052-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-19

**Name of Applicant:** Advisors Series Trust

**Signature:** /s/ Richard Conner

**Name of Signer:** Advisors Series Trust

**Title:** Assistant Treasurer