# EDGAR Filing Document

**Accession Number:** 0000783316
**File Stem:** 0001752724-23-038086
**Filing Date:** 2023-2
**Character Count:** 93641
**Document Hash:** fac8804fc1101b8db4756973c3b9070e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-038086.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-038086

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Value Line Core Bond Fund
- **CENTRAL INDEX KEY:** 0000783316
- **IRS NUMBER:** 136866048
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04471
- **FILM NUMBER:** 23663768

**BUSINESS ADDRESS:**
- **STREET 1:** 7 TIMES SQUARE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212-907-1900

**MAIL ADDRESS:**
- **STREET 1:** 7 TIMES SQUARE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VALUE LINE AGGRESSIVE INCOME TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### VALUE LINE CORE BOND FUND (Series ID: S000007530)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000020574 | VALUE LINE CORE BOND FUND | VAGIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Value Line Core Bond Fund

- **b. Investment Company Act file number:** 811-04471

- **c. CIK number of Registrant:** 0000783316

- **d. LEI of Registrant:** 549300GWUFTRPJWK6V14

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

  - **Street Address 1:** 7 TIMES SQUARE

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 212-907-1900

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

- **a. Name of Series:** VALUE LINE CORE BOND FUND

- **b. EDGAR series identifier (if any):** S000007530

- **c. LEI of Series:** 549300GWUFTRPJWK6V14

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

- **a. Date of fiscal year-end:** 2022-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $46251171.71

**Total Liabilities:** $5608972.34

**Net Assets:** $40642199.37

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -23.60000000 | **1-Year:** -869.30000000 | **5-Year:** -3457.04000000 | **10-Year:** -3603.23000000 | **30-Year:** -1271.96000000

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

- **3-Month:** -0.83000000 | **1-Year:** -90.02000000 | **5-Year:** -155.10000000 | **10-Year:** -59.59000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020574 | -1.38%               | 3.20%                | -0.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-145534.85              | $-498881.86                                |
| Month 2  | $-88294.37               | $1310228.31                                |
| Month 3  | $70601.23                | $-237142.72                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ANALOG DEVICES INC                                                | Analog Devices, Inc.                                                              | CUSIP: 032654AW5<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |    140000 | PA      | $103235.87    | 0.25%             | 2041-10-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                           | KeyCorp                                                                           | CUSIP: 49326EEJ8<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    150000 | PA      | $126519.65    | 0.31%             | 2029-10-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                                     | Citigroup, Inc.                                                                   | CUSIP: 172967HS3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    155000 | PA      | $140411.35    | 0.35%             | 2044-05-06      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                                      | Comcast Corp.                                                                     | CUSIP: 20030NCT6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    175000 | PA      | $168132.82    | 0.41%             | 2028-10-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Lennar Corp                                                       | Lennar Corp.                                                                      | CUSIP: 526057BW3<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149277.39    | 0.37%             | 2023-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| Aflac Inc                                                         | Aflac, Inc.                                                                       | CUSIP: 001055BJ0<br>LEI: 549300N0B7DOGLXWPP39 | Long             | DBT              | CORP              | US        |    150000 | PA      | $136111.35    | 0.33%             | 2030-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES                                             | AvalonBay Communities, Inc.                                                       | CUSIP: 05348EBH1<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |    125000 | PA      | $103697.05    | 0.26%             | 2031-01-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                          | AerCap Ireland Capital DAC/AerCap Global Aviation Trust                           | CUSIP: 00774MAS4<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    175000 | PA      | $154155.86    | 0.38%             | 2026-01-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| MAGELLAN MIDSTREAM PARTN                                          | Magellan Midstream Partners LP                                                    | CUSIP: 559080AL0<br>LEI: MZF5TI8NFVZZNUSKDL39 | Long             | DBT              | CORP              | US        |    125000 | PA      | $94791.19     | 0.23%             | 2046-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138WFRN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     63018 | PA      | $58663.71     | 0.14%             | 2045-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                          | Enterprise Products Operating LLC                                                 | CUSIP: 29379VAW3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    140000 | PA      | $124373.10    | 0.31%             | 2042-08-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                                   | McDonald's Corp.                                                                  | CUSIP: 58013MFS8<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147199.77    | 0.36%             | 2032-09-09      | Fixed         | 4.60%                 | No            |                  2 | On Loan: —       |
| United States Treasury                                            | U.S. Treasury Inflation-Indexed Notes                                             | CUSIP: 91282CCM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    111175 | PA      | $98344.28     | 0.24%             | 2031-07-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER FIN CA                                               | Schlumberger Finance Canada Ltd.                                                  | CUSIP: 80685XAC5<br>LEI: 549300P4EXZFF0LRNF59 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $114591.24    | 0.28%             | 2025-09-17      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| MASCO CORP                                                        | Masco Corp.                                                                       | CUSIP: 574599BP0<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | DBT              | CORP              | US        |    135000 | PA      | $104965.46    | 0.26%             | 2030-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    525000 | PA      | $479800.78    | 1.18%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Constellation Brands Inc                                          | Constellation Brands, Inc.                                                        | CUSIP: 21036PBD9<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    160000 | PA      | $150927.92    | 0.37%             | 2048-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AutoZone Inc                                                      | AutoZone, Inc.                                                                    | CUSIP: 053332AV4<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143249.41    | 0.35%             | 2027-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31417YWB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     62502 | PA      | $60573.38     | 0.15%             | 2031-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 36202F4R4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     36812 | PA      | $35850.22     | 0.09%             | 2042-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association REMICS                                      | CUSIP: 3136ACA27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16841 | PA      | $15904.16     | 0.04%             | 2028-03-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                           | John Deere Capital Corp.                                                          | CUSIP: 24422EVD8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    150000 | PA      | $129595.33    | 0.32%             | 2030-01-09      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                        | AbbVie, Inc.                                                                      | CUSIP: 00287YBV0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    150000 | PA      | $139665.58    | 0.34%             | 2026-11-21      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138X3XH0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     78419 | PA      | $71468.69     | 0.18%             | 2043-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                           | Dell International LLC/EMC Corp.                                                  | CUSIP: 24703TAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $133069.38    | 0.33%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3135G0Q22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |    240000 | PA      | $221751.62    | 0.55%             | 2026-09-24      | Fixed         | 1.88%                 | No            |                  2 | On Loan: —       |
| GOLDMAN SACHS GROUP INC                                           | Goldman Sachs Group, Inc.                                                         | CUSIP: 38143U8H7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    175000 | PA      | $168522.92    | 0.41%             | 2026-02-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132DWCJ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    449035 | PA      | $381856.71    | 0.94%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810QA9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    650000 | PA      | $614300.78    | 1.51%             | 2039-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 31297HSP5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21222 | PA      | $21184.00     | 0.05%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                                                | Union Pacific Corp.                                                               | CUSIP: 907818FK9<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    150000 | PA      | $109124.53    | 0.27%             | 2050-02-05      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810FP8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    120000 | PA      | $132070.31    | 0.32%             | 2031-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31418DN65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     79259 | PA      | $71027.20     | 0.17%             | 2035-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137FBU79<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    300000 | PA      | $284440.65    | 0.70%             | 2027-09-25      | Variable      | 3.19%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140QK5S3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    731417 | PA      | $643680.25    | 1.58%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                         | Uniform Mortgage-Backed Security, TBA                                             | CUSIP: 01F042616<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1670000 | PA      | $1608679.69   | 3.96%             | 2053-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                                           | Laboratory Corp. of America Holdings                                              | CUSIP: 50540RAW2<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    150000 | PA      | $129502.08    | 0.32%             | 2029-12-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 36179WQC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    132358 | PA      | $121798.93    | 0.30%             | 2051-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                              | District of Columbia                                                              | CUSIP: 25477GEX9<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200397.98    | 0.49%             | 2023-12-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                                          | Anheuser-Busch InBev Worldwide, Inc.                                              | CUSIP: 035240AR1<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150514.19    | 0.37%             | 2031-01-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors                                      | State Street Navigator Securities Lending Government Money Market Portfolio       | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |    658838 | NS      | $658837.50    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138Y1PA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     76662 | PA      | $73218.76     | 0.18%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                  | Crown Castle, Inc.                                                                | CUSIP: 22822VAK7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    150000 | PA      | $139507.51    | 0.34%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 9128282A7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    620000 | PA      | $565798.43    | 1.39%             | 2026-08-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| VULCAN MATERIALS CO                                               | Vulcan Materials Co.                                                              | CUSIP: 929160AZ2<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    150000 | PA      | $132710.59    | 0.33%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                                 | EOG Resources, Inc.                                                               | CUSIP: 26875PAU5<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    165000 | PA      | $160184.75    | 0.39%             | 2030-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CNA Financial Corp                                                | CNA Financial Corp.                                                               | CUSIP: 126117AS9<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196553.37    | 0.48%             | 2024-05-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                         | Uniform Mortgage-Backed Security, TBA                                             | CUSIP: 01F040610<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1065000 | PA      | $999894.75    | 2.46%             | 2053-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140Q9SJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    134564 | PA      | $126166.49    | 0.31%             | 2048-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                                            | Motorola Solutions, Inc.                                                          | CUSIP: 620076BN8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190804.89    | 0.47%             | 2029-05-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138W4C82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    219237 | PA      | $199812.04    | 0.49%             | 2043-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 36179SLS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    137113 | PA      | $128437.04    | 0.32%             | 2046-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NORTHERN TRUST CORP                                               | Northern Trust Corp.                                                              | CUSIP: 665859AV6<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    150000 | PA      | $123603.83    | 0.30%             | 2030-05-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: —       |
| TRANSCANADA PIPELINES                                             | TransCanada PipeLines Ltd.                                                        | CUSIP: 89352HAW9<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $142291.86    | 0.35%             | 2028-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LIFE STORAGE LP                                                   | Life Storage LP                                                                   | CUSIP: 53227JAC8<br>LEI: X0MIGH67XZCB7HL1A534 | Long             | DBT              |  | US        |    150000 | PA      | $116893.75    | 0.29%             | 2030-10-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                             | Wells Fargo & Co.                                                                 | CUSIP: 95000U2Y8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199382.13    | 0.49%             | 2026-04-25      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31418EBS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    472335 | PA      | $401109.39    | 0.99%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132Y12Z0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     50229 | PA      | $48007.43     | 0.12%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137BVZ82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    200000 | PA      | $192213.64    | 0.47%             | 2027-01-25      | Variable      | 3.43%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 91282CCH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $259910.16    | 0.64%             | 2028-06-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                                                 | Expedia Group, Inc.                                                               | CUSIP: 30212PAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $106302.43    | 0.26%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137BTUM1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    250000 | PA      | $239477.53    | 0.59%             | 2026-11-25      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                               | COMM Mortgage Trust                                                               | CUSIP: 12591UAH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $145548.20    | 0.36%             | 2047-03-10      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                                      | Centene Corp.                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    150000 | PA      | $137128.35    | 0.34%             | 2029-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                    | Morgan Stanley                                                                    | CUSIP: 61746BDQ6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123101.98    | 0.30%             | 2024-04-29      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                          | Charter Communications Operating LLC/Charter Communications Operating Capital     | CUSIP: 161175AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $171657.29    | 0.42%             | 2025-07-23      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| SABRA HEALTH CARE LP                                              | Sabra Health Care LP                                                              | CUSIP: 78572XAG6<br>LEI: 549300OVKLRFSIQG0H81 | Long             | DBT              |  | US        |    155000 | PA      | $130013.01    | 0.32%             | 2029-10-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| VERISIGN INC                                                      | VeriSign, Inc.                                                                    | CUSIP: 92343EAM4<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |    125000 | PA      | $102224.02    | 0.25%             | 2031-06-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: —       |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132QQTZ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    160291 | PA      | $153897.00    | 0.38%             | 2045-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                       | Oracle Corp.                                                                      | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $157438.60    | 0.39%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA PLC                                                   | AstraZeneca PLC                                                                   | CUSIP: 046353AW8<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $118879.61    | 0.29%             | 2030-08-06      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| State of Oregon                                                   | State of Oregon                                                                   | CUSIP: 68609TQ27<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    145000 | PA      | $105388.54    | 0.26%             | 2036-05-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                          | Occidental Petroleum Corp.                                                        | CUSIP: 674599EE1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149491.50    | 0.37%             | 2025-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RAYTHEON TECH CORP                                                | Raytheon Technologies Corp.                                                       | CUSIP: 913017CY3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    125000 | PA      | $119880.97    | 0.29%             | 2028-11-16      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                                           | HCA, Inc.                                                                         | CUSIP: 404119BR9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149931.98    | 0.37%             | 2025-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138XBX90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     63245 | PA      | $60653.94     | 0.15%             | 2043-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SVS                                            | Discover Financial Services                                                       | CUSIP: 254709AK4<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |    165000 | PA      | $160705.71    | 0.40%             | 2024-11-06      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| KIMCO REALTY CORP                                                 | Kimco Realty Corp.                                                                | CUSIP: 49446RAY5<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              |  | US        |    150000 | PA      | $115567.02    | 0.28%             | 2031-12-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 912828ZY9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $487851.56    | 1.20%             | 2023-07-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| Hartford County Metropolitan District Clean Water Project Revenue | Hartford County Metropolitan District Clean Water Project Revenue                 | CUSIP: 416498DH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $93543.63     | 0.23%             | 2034-04-01      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 38378BP78<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    140020 | PA      | $120324.26    | 0.30%             | 2053-02-16      | Variable      | 2.11%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140QDEN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     68675 | PA      | $61056.30     | 0.15%             | 2050-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                          | Prudential Financial, Inc.                                                        | CUSIP: 744320BF8<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    175000 | PA      | $167125.00    | 0.41%             | 2048-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors                                      | State Street Institutional U.S. Government Money Market Fund                      | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   6095760 | NS      | $6095759.83   | 15.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DIAGEO CAPITAL PLC                                                | Diageo Capital PLC                                                                | CUSIP: 25243YBD0<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $102972.59    | 0.25%             | 2030-04-29      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CUMMINS INC                                                       | Cummins, Inc.                                                                     | CUSIP: 231021AT3<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | DBT              | CORP              | US        |    175000 | PA      | $137594.78    | 0.34%             | 2030-09-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd                                                       | Nutrien Ltd.                                                                      | CUSIP: 67077MAT5<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $141261.63    | 0.35%             | 2029-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 91282CBL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    625000 | PA      | $511010.74    | 1.26%             | 2031-02-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association REMICS                                   | CUSIP: 38377YTM2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8818 | PA      | $8746.47      | 0.02%             | 2040-05-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP                                                     | Allstate Corp.                                                                    | CUSIP: 020002BJ9<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    125000 | PA      | $96053.63     | 0.24%             | 2030-12-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3128PQXQ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11653 | PA      | $11501.06     | 0.03%             | 2025-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 912828Z94<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    675000 | PA      | $576755.86    | 1.42%             | 2030-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                            | UnitedHealth Group, Inc.                                                          | CUSIP: 91324PBU5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    150000 | PA      | $139042.68    | 0.34%             | 2041-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| San Marcos Unified School District                                | San Marcos Unified School District                                                | CUSIP: 798755GQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $153541.10    | 0.38%             | 2038-08-01      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                               | Synchrony Financial                                                               | CUSIP: 87165BAD5<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    190000 | PA      | $185716.72    | 0.46%             | 2024-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                         | Amgen, Inc.                                                                       | CUSIP: 031162CT5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    150000 | PA      | $134770.36    | 0.33%             | 2027-02-21      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                            | Sequoia Mortgage Trust                                                            | CUSIP: 81744FDJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     38702 | PA      | $33622.63     | 0.08%             | 2034-09-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138WKTU9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     69531 | PA      | $62160.66     | 0.15%             | 2047-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NOVARTIS CAPITAL CORP                                             | Novartis Capital Corp.                                                            | CUSIP: 66989HAS7<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |    160000 | PA      | $111977.60    | 0.28%             | 2050-08-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138WFX84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20482 | PA      | $19062.79     | 0.05%             | 2045-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810SJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2056000 | PA      | $1458715.94   | 3.59%             | 2049-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                                  | Duke Energy Corp.                                                                 | CUSIP: 26441CBT1<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141402.55    | 0.35%             | 2032-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PulteGroup Inc                                                    | PulteGroup, Inc.                                                                  | CUSIP: 745867AX9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    142000 | PA      | $140556.39    | 0.35%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| DOLLAR GENERAL CORP                                               | Dollar General Corp.                                                              | CUSIP: 256677AG0<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    150000 | PA      | $135122.31    | 0.33%             | 2030-04-03      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                      | Enbridge, Inc.                                                                    | CUSIP: 29250NBF1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $116015.58    | 0.29%             | 2033-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 9128285C0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $193484.38    | 0.48%             | 2025-09-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                                         | Hess Corp.                                                                        | CUSIP: 42809HAG2<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |    135000 | PA      | $129129.90    | 0.32%             | 2027-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                          | Ford Motor Credit Co. LLC                                                         | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    170000 | PA      | $153682.18    | 0.38%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                           | Teva Pharmaceutical Finance Netherlands III BV                                    | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    125000 | PA      | $109312.50    | 0.27%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                          | AT&T, Inc.                                                                        | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    190000 | PA      | $146583.81    | 0.36%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 38378B6A2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    106593 | PA      | $100109.47    | 0.25%             | 2052-11-16      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 91282CAW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    165000 | PA      | $158657.81    | 0.39%             | 2023-11-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 9128283W8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    790000 | PA      | $744142.96    | 1.83%             | 2028-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132GT5R4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     19522 | PA      | $18771.52     | 0.05%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3128M8G99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     36199 | PA      | $33968.13     | 0.08%             | 2041-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                               | Charles Schwab Corp.                                                              | CUSIP: 808513BZ7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    175000 | PA      | $170354.95    | 0.42%             | 2027-03-03      | Floating      | 5.30%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3135G0ZR7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |    250000 | PA      | $242651.19    | 0.60%             | 2024-09-06      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                                           | European Bank for Reconstruction & Development                                    | CUSIP: 29874QDH4<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |    150000 | PA      | $149506.50    | 0.37%             | 2023-03-07      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                                                         | Adobe, Inc.                                                                       | CUSIP: 00724PAD1<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $128268.84    | 0.32%             | 2030-02-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ZIONS BANCORP NA                                                  | Zions Bancorp NA                                                                  | CUSIP: 98971DAB6<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |    150000 | PA      | $122908.78    | 0.30%             | 2029-10-29      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3133AB3X6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    196853 | PA      | $167779.23    | 0.41%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138WGCX0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27526 | PA      | $26398.88     | 0.06%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138YE2C0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     43506 | PA      | $40585.35     | 0.10%             | 2045-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                                                | Steel Dynamics, Inc.                                                              | CUSIP: 858119BM1<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    165000 | PA      | $141326.04    | 0.35%             | 2031-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                                                    | Merck & Co., Inc.                                                                 | CUSIP: 58933YAV7<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    175000 | PA      | $154432.24    | 0.38%             | 2039-03-07      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association REMICS                                   | CUSIP: 38382TQ72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1389174 | PA      | $208620.30    | 0.51%             | 2051-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp                                                    | Air Lease Corp.                                                                   | CUSIP: 00912XAV6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    175000 | PA      | $159692.34    | 0.39%             | 2027-04-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 91282CCU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    550000 | PA      | $533392.58    | 1.31%             | 2023-08-31      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                 | Service Corp. International                                                       | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    155000 | PA      | $130616.55    | 0.32%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810SR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    350000 | PA      | $220732.42    | 0.54%             | 2040-05-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 912828G38<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1085000 | PA      | $1042617.19   | 2.57%             | 2024-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 912828YB0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $434941.41    | 1.07%             | 2029-08-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                                       | Netflix, Inc.                                                                     | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    120000 | PA      | $115870.36    | 0.29%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                          | Celanese U.S. Holdings LLC                                                        | CUSIP: 15089QAD6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2022-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138WF3P9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     37113 | PA      | $34548.84     | 0.09%             | 2045-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                             | Wells Fargo Commercial Mortgage Trust                                             | CUSIP: 94989MAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     44773 | PA      | $43597.65     | 0.11%             | 2058-07-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                            | PNC Financial Services Group, Inc.                                                | CUSIP: 693475BA2<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    150000 | PA      | $121745.28    | 0.30%             | 2032-04-23      | Fixed         | 2.31%                 | No            |                  2 | On Loan: —       |
| O'Reilly Automotive Inc                                           | O'Reilly Automotive, Inc.                                                         | CUSIP: 67103HAF4<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117771.34    | 0.29%             | 2027-09-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138YHUV0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26035 | PA      | $24968.86     | 0.06%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp         | Tarrant County Cultural Education Facilities Finance Corp.                        | CUSIP: 87638QHB8<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    500000 | PA      | $435791.40    | 1.07%             | 2043-11-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810TG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    150000 | PA      | $121312.50    | 0.30%             | 2052-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                  | T-Mobile USA, Inc.                                                                | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    150000 | PA      | $129478.28    | 0.32%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                       | Equinix, Inc.                                                                     | CUSIP: 29444UBS4<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |    150000 | PA      | $120923.31    | 0.30%             | 2031-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138AHXP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     50362 | PA      | $51041.65     | 0.13%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31417CK61<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     33855 | PA      | $32678.22     | 0.08%             | 2027-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31416XTC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     52595 | PA      | $52192.42     | 0.13%             | 2041-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                                     | Amphenol Corp.                                                                    | CUSIP: 032095AL5<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    160000 | PA      | $127196.96    | 0.31%             | 2031-09-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Welltower Inc                                                     | Welltower, Inc.                                                                   | CUSIP: 95040QAD6<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    125000 | PA      | $117336.41    | 0.29%             | 2028-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810PW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    425000 | PA      | $447511.72    | 1.10%             | 2038-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                                           | Digital Realty Trust LP                                                           | CUSIP: 25389JAU0<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |    125000 | PA      | $111925.05    | 0.28%             | 2029-07-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                            | Marriott International, Inc.                                                      | CUSIP: 571903BJ1<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133417.10    | 0.33%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                              | FREMF Mortgage Trust                                                              | CUSIP: 30286XAN9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    175000 | PA      | $167353.36    | 0.41%             | 2048-02-25      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 31417BY50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     34698 | PA      | $33209.87     | 0.08%             | 2027-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Electronic Arts Inc                                               | Electronic Arts, Inc.                                                             | CUSIP: 285512AD1<br>LEI: 549300O7A67PUEYKDL45 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149662.76    | 0.37%             | 2026-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Flex Ltd                                                          | Flex Ltd.                                                                         | CUSIP: 33938EAU1<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |    150000 | PA      | $147427.48    | 0.36%             | 2025-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| REGENERON PHARMACEUTICAL                                          | Regeneron Pharmaceuticals, Inc.                                                   | CUSIP: 75886FAE7<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | DBT              | CORP              | US        |    150000 | PA      | $116540.86    | 0.29%             | 2030-09-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                          | Lloyds Banking Group PLC                                                          | CUSIP: 53944YAH6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $171820.64    | 0.42%             | 2024-03-12      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC                                          | Baxter International, Inc.                                                        | CUSIP: 071813CB3<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    135000 | PA      | $103382.25    | 0.25%             | 2031-04-01      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3133A9JB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    205334 | PA      | $181007.51    | 0.45%             | 2050-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Bunge Ltd Finance Corp                                            | Bunge Ltd. Finance Corp.                                                          | CUSIP: 120568AX8<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    150000 | PA      | $139902.31    | 0.34%             | 2026-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                         | Uniform Mortgage-Backed Security, TBA                                             | CUSIP: 01F052615<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2100000 | PA      | $2106713.45   | 5.18%             | 2053-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                       | Prologis LP                                                                       | CUSIP: 74340XBM2<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    125000 | PA      | $104448.83    | 0.26%             | 2030-04-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140E8J74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     34169 | PA      | $31790.23     | 0.08%             | 2045-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                               | American Express Co.                                                              | CUSIP: 025816CU1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174811.02    | 0.43%             | 2024-05-03      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                                | Vodafone Group PLC                                                                | CUSIP: 92857WBU3<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $134243.64    | 0.33%             | 2050-09-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                                | Ally Financial, Inc.                                                              | CUSIP: 02005NBQ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140797.67    | 0.35%             | 2027-06-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                              | Freeport-McMoRan, Inc.                                                            | CUSIP: 35671DCH6<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    145000 | PA      | $135086.35    | 0.33%             | 2030-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                              | Bank of America Corp.                                                             | CUSIP: 06051GKN8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148763.21    | 0.37%             | 2026-04-02      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137BSP72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    180000 | PA      | $168819.05    | 0.42%             | 2026-08-25      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| TOLL BROS FINANCE CORP                                            | Toll Brothers Finance Corp.                                                       | CUSIP: 88947EAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $136941.22    | 0.34%             | 2025-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                               | JPMorgan Chase & Co.                                                              | CUSIP: 46647PAL0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    175000 | PA      | $136815.26    | 0.34%             | 2048-11-15      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3138XXFC5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     29087 | PA      | $27240.40     | 0.07%             | 2029-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Boardwalk Pipelines LP                                            | Boardwalk Pipelines LP                                                            | CUSIP: 096630AD0<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123553.66    | 0.30%             | 2024-12-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                                          | Discovery Communications LLC                                                      | CUSIP: 25470DAL3<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121247.91    | 0.30%             | 2026-03-11      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                 | Kinder Morgan, Inc.                                                               | CUSIP: 49456BAP6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143935.38    | 0.35%             | 2028-03-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                          | Government National Mortgage Association                                          | CUSIP: 36179VZT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    125436 | PA      | $116470.36    | 0.29%             | 2050-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3133AFBW0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    242486 | PA      | $206334.76    | 0.51%             | 2051-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810RB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    425000 | PA      | $349363.28    | 0.86%             | 2043-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                              | Targa Resources Corp.                                                             | CUSIP: 87612KAA0<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122696.45    | 0.30%             | 2027-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL                                             | Takeda Pharmaceutical Co. Ltd.                                                    | CUSIP: 874060AY2<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    140000 | PA      | $103343.23    | 0.25%             | 2040-07-09      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Bonds                                                               | CUSIP: 912810SA7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    964000 | PA      | $796843.90    | 1.96%             | 2048-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132GRKU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18490 | PA      | $17352.50     | 0.04%             | 2042-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132DV4G7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    142654 | PA      | $122144.78    | 0.30%             | 2049-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137FQKN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    450000 | PA      | $402128.55    | 0.99%             | 2029-11-25      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                                           | Canadian Natural Resources Ltd.                                                   | CUSIP: 136385AZ4<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $139666.73    | 0.34%             | 2025-07-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132DWB85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    159709 | PA      | $145721.59    | 0.36%             | 2051-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                            | U.S. Treasury Notes                                                               | CUSIP: 912828ZB9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    350000 | PA      | $311636.72    | 0.77%             | 2027-02-28      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3128P75J8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     90891 | PA      | $88176.12     | 0.22%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132HRC65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    126300 | PA      | $115233.09    | 0.28%             | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                            | General Motors Financial Co., Inc.                                                | CUSIP: 37045XDW3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145550.70    | 0.36%             | 2027-04-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Becton Dickinson and Co                                           | Becton Dickinson & Co.                                                            | CUSIP: 075887BW8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    150000 | PA      | $142064.73    | 0.35%             | 2027-06-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: —       |
| PAYPAL HOLDINGS INC                                               | PayPal Holdings, Inc.                                                             | CUSIP: 70450YAD5<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |    150000 | PA      | $138579.04    | 0.34%             | 2026-10-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                               | JPMorgan Chase & Co.                                                              | CUSIP: 46625HJZ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120910.06    | 0.30%             | 2026-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                                        | Federal National Mortgage Association                                             | CUSIP: 3140XD4U7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1173589 | PA      | $1083482.72   | 2.67%             | 2049-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                                     | Citigroup, Inc.                                                                   | CUSIP: 172967MF5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145334.47    | 0.36%             | 2025-04-24      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                       | Federal Home Loan Mortgage Corp.                                                  | CUSIP: 3132GUGL2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     38957 | PA      | $36559.87     | 0.09%             | 2042-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COSTCO WHOLESALE CORP                                             | Costco Wholesale Corp.                                                            | CUSIP: 22160KAQ8<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | DBT              | CORP              | US        |    175000 | PA      | $139033.80    | 0.34%             | 2032-04-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                   | CVS Health Corp.                                                                  | CUSIP: 126650DN7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $118591.42    | 0.29%             | 2030-08-21      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                                              | Utah Acquisition Sub, Inc.                                                        | CUSIP: 62854AAN4<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |    165000 | PA      | $154435.27    | 0.38%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                  | Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | CUSIP: 3137FLYV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    200000 | PA      | $187278.48    | 0.46%             | 2029-04-25      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| FIRST-CITIZENS BANK/TRST                                          | First-Citizens Bank & Trust Co.                                                   | CUSIP: 125581HA9<br>LEI: L9VVX1KT5TFTKS0MLF66 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148715.31    | 0.37%             | 2024-06-19      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| CSX CORP                                                          | CSX Corp.                                                                         | CUSIP: 126408HR7<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    175000 | PA      | $126883.68    | 0.31%             | 2049-09-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-19

**Name of Applicant:** Value Line Core Bond Fund

**Signature:** Jim Gallo

**Name of Signer:** Jim Gallo

**Title:** Treasurer