# EDGAR Filing Document

**Accession Number:** 0001022804
**File Stem:** 0001752724-25-203468
**Filing Date:** 2025-8
**Character Count:** 103729
**Document Hash:** abbd95b053ed7528635732b85763d501
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203468.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203468

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN FUND ALLOCATOR SERIES
- **CENTRAL INDEX KEY:** 0001022804

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07851
- **FILM NUMBER:** 251253163

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-4018

**MAIL ADDRESS:**
- **STREET 1:** FRANKLIN FUND ALLOCATOR SERIES
- **STREET 2:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN TEMPLETON FUND ALLOCATOR SERIES
- **DATE OF NAME CHANGE:** 19960912

## Series and Classes Contracts Data

### FRANKLIN GLOBAL ALLOCATION FUND (Series ID: S000007241)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000019849 | CLASS A       | FFALX           |
| C000019851 | CLASS C       | FFACX           |
| C000019852 | CLASS R       | FFARX           |
| C000019853 | ADVISOR CLASS | FFAAX           |
| C000194376 | Class R6      | FFAQX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin Fund Allocator Series

- **b. Investment Company Act file number:** 811-07851

- **c. CIK number of Registrant:** 0001022804

- **d. LEI of Registrant:** 5493009BPYLDNZHEMO31

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

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

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

- **a. Name of Series:** Franklin Global Allocation Fund

- **b. EDGAR series identifier (if any):** S000007241

- **c. LEI of Series:** 549300R05BQMM0PJVZ25

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

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

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2786176666.82

**Total Liabilities:** $21720481.64

**Net Assets:** $2764456185.18

**Delayed Delivery Securities:** $8474408.87

**Cash Not Reported:** $2641380.93

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -322.79000000 | **1-Year:** -28657.12000000 | **5-Year:** -130577.52000000 | **10-Year:** -167658.73000000 | **30-Year:** -109473.89000000

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

- **3-Month:** 0.00000000 | **1-Year:** -2435.71000000 | **5-Year:** -11345.46000000 | **10-Year:** -4724.01000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000019849 | 0.90%                | 3.49%                | 2.83%                |
| Class ID C000019853 | 0.95%                | 3.52%                | 2.87%                |
| Class ID C000019852 | 0.96%                | 3.41%                | 2.83%                |
| Class ID C000194376 | 0.93%                | 3.55%                | 2.86%                |
| Class ID C000019851 | 0.91%                | 3.40%                | 2.75%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1128087.73              | $32066854.72                               |
| Month 2  | $15269633.57             | $73083979.36                               |
| Month 3  | $15873692.48             | $63405536.80                               |

**Designated Index Information**

- **Index Name:** 60% MSCI ACWI-Daily+30%Bloomberg Multiverse USD Hedged+10%ICE BoFA 3M TBill Index

- **Index Identifier:** HB10957

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MonotaRO Co. Ltd.                                              | MonotaRO Co. Ltd.                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     203900 | NS      | $4013945.85   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Bundesrepublik Deutschland                                     | Bundesrepublik Deutschland                                      | CUSIP: N/A<br>LEI: 529900AQBND3S6YJLY83       | Long             | DBT              | NUSS              | DE        |   38000000 | PA      | $36010394.62  | 1.30%             | 2038-05-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, 30 Year                                                   | CUSIP: 31418FMK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   12835000 | PA      | $13051444.05  | 0.47%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Cadence Design Systems, Inc.                                   | Cadence Design Systems, Inc.                                    | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      11322 | NS      | $3488874.30   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp.                                             | Lam Research Corp.                                              | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      37190 | NS      | $3620074.60   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin BSP Real Estate Debt BDC                              | Franklin BSP Real Estate Debt BDC                               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | RF                | US        |      33292 | NS      | $909401.77    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust      | AerCap Ireland Capital DAC / AerCap Global Aviation Trust       | CUSIP: 00774MAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    3956000 | PA      | $3490709.64   | 0.13%             | 2033-10-29      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Alphabet, Inc.                                                 | Alphabet, Inc., Class A                                         | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     225629 | NS      | $39762598.67  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.                    | Taiwan Semiconductor Manufacturing Co. Ltd.                     | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      44755 | NS      | $10136559.95  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International of Washington, Inc.                   | Expeditors International of Washington, Inc.                    | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |      43564 | NS      | $4977187.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart, Inc.                                                  | Walmart, Inc.                                                   | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     117219 | NS      | $11461673.82  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| COSCO SHIPPING Holdings Co. Ltd.                               | COSCO SHIPPING Holdings Co. Ltd., Class H                       | CUSIP: N/A<br>LEI: 3003009XI0QGYYA29S17       | Long             | EC               | CORP              | CN        |    1933500 | NS      | $3366061.93   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| PayPal Holdings, Inc.                                          | PayPal Holdings, Inc.                                           | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      47470 | NS      | $3527970.40   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System, Inc.                                          | Landstar System, Inc.                                           | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |      18357 | NS      | $2551990.14   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                            | Forward Foreign Currency Contract                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $-2312811.20  | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| French Republic                                                | France Government Bond                                          | CUSIP: N/A<br>LEI: 969500KCGF3SUYJHPV70       | Long             | DBT              | NUSS              | FR        |    4770335 | PA      | $5678122.36   | 0.21%             | 2030-02-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp.                                                   | NVIDIA Corp.                                                    | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     475954 | NS      | $75195972.46  | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                                               | Amazon.com, Inc.                                                | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     151068 | NS      | $33142808.52  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Industry Co. Ltd.                                  | Daiwa House Industry Co. Ltd.                                   | CUSIP: N/A<br>LEI: 353800K9WXR9XRZJZI46       | Long             | EC               | CORP              | JP        |     113000 | NS      | $3882997.44   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker BP ASA                                                    | Aker BP ASA                                                     | CUSIP: 55037AAB4<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |    9191000 | PA      | $8212318.15   | 0.30%             | 2031-07-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Atlas Copco AB                                                 | Atlas Copco AB, Class B                                         | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |     498831 | NS      | $7099655.84   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| United Kingdom of Great Britain and Northern Ireland           | United Kingdom Gilt                                             | CUSIP: N/A<br>LEI: ECTRVYYCEF89VWYS6K36       | Long             | DBT              | NUSS              | GB        |   22840000 | PA      | $31495930.25  | 1.14%             | 2027-01-29      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Japan                                                          | Japan Government Bond                                           | CUSIP: N/A<br>LEI: 353800WZS8AXZXFUC241       | Long             | DBT              | NUSS              | JP        | 2802000000 | PA      | $19156898.95  | 0.69%             | 2029-06-20      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| JBS USA Holding Lux SARL / JBS USA Food Co. / JBS Lux Co. SARL | JBS USA Holding Lux SARL / JBS USA Food Co. / JBS Lux Co. SARL  | CUSIP: 46590XAP1<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    1310362 | PA      | $1147991.24   | 0.04%             | 2032-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                   | ING Groep NV                                                    | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |     454583 | NS      | $9963409.07   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Oddity Tech Ltd.                                               | Oddity Tech Ltd., Class A                                       | CUSIP: N/A<br>LEI: 254900QH12XZS53G0V57       | Long             | EC               | CORP              | IL        |      73762 | NS      | $5566818.14   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NN Group NV                                                    | NN Group NV                                                     | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |      84660 | NS      | $5633200.16   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| KLA Corp.                                                      | KLA Corp.                                                       | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      33633 | NS      | $30126423.42  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Subaru Corp.                                                   | Subaru Corp.                                                    | CUSIP: N/A<br>LEI: 549300N244BVAEE6HH86       | Long             | EC               | CORP              | JP        |     281700 | NS      | $4883662.54   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Novatek Microelectronics Corp.                                 | Novatek Microelectronics Corp.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     466000 | NS      | $8691311.23   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                                | Eli Lilly & Co.                                                 | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       4987 | NS      | $3887516.11   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp.                                          | Deckers Outdoor Corp.                                           | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |      27452 | NS      | $2829477.64   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodside Finance Ltd.                                          | Woodside Finance Ltd.                                           | CUSIP: 980236AQ6<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |    4654000 | PA      | $4597642.95   | 0.17%             | 2029-03-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PetroChina Co. Ltd.                                            | PetroChina Co. Ltd., Class H                                    | CUSIP: N/A<br>LEI: 529900RPY4YG47TRSV05       | Long             | EC               | CORP              | CN        |    5946000 | NS      | $5124126.81   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Premier, Inc.                                                  | Premier, Inc., Class A                                          | CUSIP: 74051N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     161696 | NS      | $3545993.28   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                           | FNMA, 30 Year                                                   | CUSIP: 3140XGX46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3162620 | PA      | $2511985.64   | 0.09%             | 2052-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Canadian Natural Resources Ltd.                                | Canadian Natural Resources Ltd.                                 | CUSIP: 136385AX9<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    6399000 | PA      | $6338697.23   | 0.23%             | 2027-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Chobani Holdco II LLC                                          | Chobani Holdco II LLC                                           | CUSIP: 169918AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    9006687 | PA      | $9667516.63   | 0.35%             | 2029-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Fortescue Ltd.                                                 | Fortescue Ltd.                                                  | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |    2881861 | NS      | $28969137.76  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK plc                                                        | GSK plc                                                         | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |     446558 | NS      | $8514284.53   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Mettler-Toledo International, Inc.                             | Mettler-Toledo International, Inc.                              | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |       5962 | NS      | $7003680.64   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                                                    | Apple, Inc.                                                     | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     336388 | NS      | $69016725.96  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest, Inc.                                                | Pinterest, Inc., Class A                                        | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     181803 | NS      | $6519455.58   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Finance LLC                                    | Crescent Energy Finance LLC                                     | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    7450000 | PA      | $7128052.57   | 0.26%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Check Point Software Technologies Ltd.                         | Check Point Software Technologies Ltd.                          | CUSIP: N/A<br>LEI: 2549003ZVBH73EPNS513       | Long             | EC               | CORP              | IL        |      48794 | NS      | $10795672.50  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                            | Forward Foreign Currency Contract                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $-11539.76    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DoorDash, Inc.                                                 | DoorDash, Inc., Class A                                         | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      17310 | NS      | $4267088.10   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin BSP Private Credit Fund                               | Franklin BSP Private Credit Fund, Class Advisor                 | CUSIP: 35242N202<br>LEI: 549300EZ3TEPDZJ0NK72 | Long             |  | RF                | US        |    2783694 | NS      | $29423648.79  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuaishou Technology                                            | Kuaishou Technology                                             | CUSIP: N/A<br>LEI: 300300FCDZBE6UP9ED24       | Long             | EC               | CORP              | KY        |     645700 | NS      | $5241527.65   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Recruit Holdings Co. Ltd.                                      | Recruit Holdings Co. Ltd.                                       | CUSIP: N/A<br>LEI: 353800R2LRSMVVC4I806       | Long             | EC               | CORP              | JP        |     311500 | NS      | $18318268.04  | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Dornoch Debt Merger Sub, Inc.                                  | Dornoch Debt Merger Sub, Inc.                                   | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    3250000 | PA      | $2520817.00   | 0.09%             | 2029-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                                               | ArcelorMittal SA                                                | CUSIP: 03938LBC7<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |    6981000 | PA      | $6897062.27   | 0.25%             | 2029-07-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Nitto Denko Corp.                                              | Nitto Denko Corp.                                               | CUSIP: N/A<br>LEI: 3538009GX5P09USH2J25       | Long             | EC               | CORP              | JP        |     252000 | NS      | $4866491.23   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth of Australia                                      | Australia Government Bond                                       | CUSIP: N/A<br>LEI: 213800J6B7JSBDETCB42       | Long             | DBT              | NUSS              | AU        |    7938000 | PA      | $4423599.48   | 0.16%             | 2031-11-21      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                             | Vodafone Group plc                                              | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |    5939151 | NS      | $6357575.35   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Dropbox, Inc.                                                  | Dropbox, Inc., Class A                                          | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     118904 | NS      | $3400654.40   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp.                                               | Fair Isaac Corp.                                                | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       6588 | NS      | $12042600.48  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AP Moller - Maersk A/S                                         | AP Moller - Maersk A/S, Class B                                 | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |       6608 | NS      | $12288888.06  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                         | Mercedes-Benz Group AG                                          | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |      97343 | NS      | $5671218.77   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Yancoal Australia Ltd.                                         | Yancoal Australia Ltd.                                          | CUSIP: N/A<br>LEI: 3003003IC6G39HKQAD13       | Long             | EC               | CORP              | AU        |     949576 | NS      | $3608173.12   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA                                          | Spotify Technology SA                                           | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | LU        |       5291 | NS      | $4059995.94   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co. (The)                                               | Kroger Co. (The)                                                | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     198332 | NS      | $14226354.36  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp.                                          | MGIC Investment Corp.                                           | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     328187 | NS      | $9136726.08   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                              | Johnson & Johnson                                               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     290019 | NS      | $44300402.25  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                                               | Mastercard, Inc., Class A                                       | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      26943 | NS      | $15140349.42  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| French Republic                                                | France Government Bond                                          | CUSIP: N/A<br>LEI: 969500KCGF3SUYJHPV70       | Long             | DBT              | NUSS              | FR        |   15124000 | PA      | $16727715.19  | 0.61%             | 2032-11-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| XP, Inc.                                                       | XP, Inc., Class A                                               | CUSIP: N/A<br>LEI: 5493008KDA8NBZRJST80       | Long             | EC               | CORP              | KY        |     176890 | NS      | $3573178.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Finland                                            | Finland Government Bond                                         | CUSIP: N/A<br>LEI: 743700M6Y2OQRVSBRD14       | Long             | DBT              | NUSS              | FI        |    2437000 | PA      | $2468573.10   | 0.09%             | 2031-09-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Bundesrepublik Deutschland Bundesanleihe                       | Bundesrepublik Deutschland Bundesanleihe                        | CUSIP: N/A<br>LEI: 529900AQBND3S6YJLY83       | Long             | DBT              | NUSS              | DE        |    2303832 | PA      | $2411673.04   | 0.09%             | 2054-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Shopify, Inc.                                                  | Shopify, Inc., Class A                                          | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      30230 | NS      | $3486633.96   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust      | AerCap Ireland Capital DAC / AerCap Global Aviation Trust       | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    5527000 | PA      | $5386471.60   | 0.19%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Kia Corp.                                                      | Kia Corp.                                                       | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |     206150 | NS      | $14750940.28  | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Industria de Diseno Textil SA                                  | Industria de Diseno Textil SA                                   | CUSIP: N/A<br>LEI: 549300TTCXZOGZM2EY83       | Long             | EC               | CORP              | ES        |      67640 | NS      | $3528559.12   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Paramount Global                                               | Paramount Global                                                | CUSIP: 92556HAB3<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    9346000 | PA      | $9090812.98   | 0.33%             | 2031-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| United Kingdom of Great Britain and Northern Ireland           | United Kingdom Gilt                                             | CUSIP: N/A<br>LEI: ECTRVYYCEF89VWYS6K36       | Long             | DBT              | NUSS              | GB        |   13370859 | PA      | $17194467.87  | 0.62%             | 2042-12-07      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain SA                                         | Cie de Saint-Gobain SA                                          | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |      50459 | NS      | $5927683.42   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                               | Deutsche Bank AG                                                | CUSIP: 251526CD9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    5817000 | PA      | $5443217.50   | 0.20%             | 2031-09-18      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Tesla, Inc.                                                    | Tesla, Inc.                                                     | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      33239 | NS      | $10558700.74  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Pandora A/S                                                    | Pandora A/S                                                     | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |      21415 | NS      | $3773224.15   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                       | U.S. Treasury Bonds                                             | CUSIP: 912810SN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   10770900 | PA      | $5178446.77   | 0.19%             | 2050-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Lululemon Athletica, Inc.                                      | Lululemon Athletica, Inc.                                       | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |      34952 | NS      | $8303896.16   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Amvest RCF Custodian BV                                        | Amvest RCF Custodian BV                                         | CUSIP: N/A<br>LEI: 72450023I38I1JFQ9376       | Long             | DBT              | CORP              | NL        |    1400000 | PA      | $1667594.56   | 0.06%             | 2030-03-25      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Kingdom of Spain                                               | Spain Bonos Y Oblig del Estado                                  | CUSIP: N/A<br>LEI: 9598007A56S18711AH60       | Long             | DBT              | NUSS              | ES        |    2008000 | PA      | $1952314.45   | 0.07%             | 2048-10-31      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Arista Networks, Inc.                                          | Arista Networks, Inc.                                           | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      93300 | NS      | $9545523.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Systematic Style Premia ETF                           | Franklin Systematic Style Premia ETF                            | CUSIP: 35473P546<br>LEI: 549300FEMFRM3FWBHG39 | Long             |  | RF                | US        |    2225000 | NS      | $53622500.00  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group, Inc.                                     | Simon Property Group, Inc.                                      | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      42219 | NS      | $6787126.44   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                           | FNMA, 30 Year                                                   | CUSIP: 31418E3E8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    7084505 | PA      | $7089709.10   | 0.26%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORLEN SA                                                       | ORLEN SA                                                        | CUSIP: N/A<br>LEI: 259400VVMM70CQREJT74       | Long             | EC               | CORP              | PL        |     163348 | NS      | $3722942.72   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX plc                                                       | RELX plc                                                        | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |      71173 | NS      | $3857411.47   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Bundesrepublik Deutschland                                     | Bundesrepublik Deutschland                                      | CUSIP: N/A<br>LEI: 529900AQBND3S6YJLY83       | Long             | DBT              | NUSS              | DE        |   47372269 | PA      | $55352817.36  | 2.00%             | 2033-02-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                         | Home Depot, Inc. (The)                                          | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       8245 | NS      | $3022946.80   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| iA Financial Corp., Inc.                                       | iA Financial Corp., Inc.                                        | CUSIP: 45075E104<br>LEI: 549300ZXLJVHQAIXV215 | Long             | EC               | CORP              | CA        |     124652 | NS      | $13665722.11  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Asian Development Bank                                         | Asian Development Bank                                          | CUSIP: 045167GE7<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | US        |   16478000 | PA      | $16593029.29  | 0.60%             | 2026-05-21      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Infosys Ltd.                                                   | Infosys Ltd.                                                    | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |     992866 | NS      | $18397806.98  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Electron Ltd.                                            | Tokyo Electron Ltd.                                             | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |      70100 | NS      | $13424813.39  | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Cerdia Finanz GmbH                                             | Cerdia Finanz GmbH                                              | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |    5825000 | PA      | $6052000.25   | 0.22%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                      | Williams Cos., Inc. (The)                                       | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     381335 | NS      | $23951651.35  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Parex Resources, Inc.                                          | Parex Resources, Inc.                                           | CUSIP: 69946Q104<br>LEI: 549300U7LWRGTY6XWK67 | Long             | EC               | CORP              | CA        |     552062 | NS      | $5639201.34   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd.                                                   | Hitachi Ltd.                                                    | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |     285100 | NS      | $8286247.27   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| WW Grainger, Inc.                                              | WW Grainger, Inc.                                               | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |      12558 | NS      | $13063333.92  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Federative Republic of Brazil                                  | Brazil Notas do Tesouro Nacional                                | CUSIP: N/A<br>LEI: 254900ZFY40OYEADAP90       | Long             | DBT              | NUSS              | BR        |   36181328 | PA      | $6411613.68   | 0.23%             | 2026-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Adobe, Inc.                                                    | Adobe, Inc.                                                     | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      15879 | NS      | $6143267.52   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                                               | Novo Nordisk A/S, Class B                                       | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |      32336 | NS      | $2240692.40   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Jane Street Group / JSG Finance, Inc.                          | Jane Street Group / JSG Finance, Inc.                           | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1228000 | PA      | $1292939.10   | 0.05%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                             | Altria Group, Inc.                                              | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     572636 | NS      | $33573648.68  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Canada                                                         | Canada Government Bond                                          | CUSIP: 135087Q49<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |   20600000 | PA      | $15374929.32  | 0.56%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| JBS USA Holding Lux SARL / JBS USA Food Co. / JBS Lux Co. SARL | JBS USA Holding Lux SARL / JBS USA Food Co. / JBS Lux Co. SARL  | CUSIP: 46590XAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    4800000 | PA      | $4476228.96   | 0.16%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Shionogi & Co. Ltd.                                            | Shionogi & Co. Ltd.                                             | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35       | Long             | EC               | CORP              | JP        |     279900 | NS      | $5038838.38   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Ralph Lauren Corp.                                             | Ralph Lauren Corp., Class A                                     | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      19280 | NS      | $5288118.40   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                                   | Iberdrola SA                                                    | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |     375036 | NS      | $7214954.03   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co. (The)                                     | Sherwin-Williams Co. (The)                                      | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       8824 | NS      | $3029808.64   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel, Inc.                                                   | Mattel, Inc.                                                    | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |     175916 | NS      | $3469063.52   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                                | Citigroup, Inc.                                                 | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     228552 | NS      | $19454346.24  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group plc                                                   | 3i Group plc                                                    | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |     265424 | NS      | $15020931.55  | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                       | U.S. Treasury Notes                                             | CUSIP: 91282CJW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   24915000 | PA      | $25145658.34  | 0.91%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Japan                                                          | Japan Government Bond                                           | CUSIP: N/A<br>LEI: 353800WZS8AXZXFUC241       | Long             | DBT              | NUSS              | JP        | 1445850000 | PA      | $10014489.43  | 0.36%             | 2035-03-20      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Kingdom of Spain                                               | Spain Bonos Y Oblig del Estado                                  | CUSIP: N/A<br>LEI: 9598007A56S18711AH60       | Long             | DBT              | NUSS              | ES        |    4964000 | PA      | $6099649.90   | 0.22%             | 2029-05-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                           | Glencore Funding LLC                                            | CUSIP: 378272AY4<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    8144000 | PA      | $7340969.51   | 0.27%             | 2030-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Corteva, Inc.                                                  | Corteva, Inc.                                                   | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      45189 | NS      | $3367936.17   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp.                                                    | Terex Corp.                                                     | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    5176000 | PA      | $5189954.50   | 0.19%             | 2032-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AutoZone, Inc.                                                 | AutoZone, Inc.                                                  | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       5085 | NS      | $18876689.55  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                                                 | Broadcom, Inc.                                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      60940 | NS      | $16798111.00  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                                            | Abbott Laboratories                                             | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     154153 | NS      | $20966349.53  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                                           | Meta Platforms, Inc., Class A                                   | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      50147 | NS      | $37012999.23  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                                  | Koninklijke Ahold Delhaize NV                                   | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |     175585 | NS      | $7333562.22   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Belgium                                             | Belgium Government Bond                                         | CUSIP: N/A<br>LEI: 549300SZ25JZFHRHWD76       | Long             | DBT              | NUSS              | BE        |    4833114 | PA      | $4830678.94   | 0.17%             | 2032-06-22      | Fixed         | 0.35%                 | No            |                  2 | On Loan: No      |
| Grifols SA                                                     | Grifols SA                                                      | CUSIP: 39843UAA0<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    1862000 | PA      | $1791154.62   | 0.06%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Canada                                                         | Canada Government Bond                                          | CUSIP: 135087P32<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |   27072000 | PA      | $19084293.83  | 0.69%             | 2032-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Petroleo Brasileiro SA                                         | Petroleo Brasileiro SA - Petrobras                              | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |    1994600 | NS      | $12515122.86  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                            | Forward Foreign Currency Contract                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $-1698548.61  | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| HubSpot, Inc.                                                  | HubSpot, Inc.                                                   | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |       5408 | NS      | $3010255.04   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Loblaw Cos. Ltd.                                               | Loblaw Cos. Ltd.                                                | CUSIP: 539481101<br>LEI: 5493008LN3O1DIDTSH67 | Long             | EC               | CORP              | CA        |      76200 | NS      | $12604406.10  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                                | ASML Holding NV                                                 | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       4579 | NS      | $3669321.37   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Palantir Technologies, Inc.                                    | Palantir Technologies, Inc., Class A                            | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      48034 | NS      | $6547994.88   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingdom of the Netherlands                                     | Netherlands Government Bond                                     | CUSIP: N/A<br>LEI: 254900G14ALGVKORFN62       | Long             | DBT              | NUSS              | NL        |    2432271 | PA      | $2922727.85   | 0.11%             | 2044-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NetEase, Inc.                                                  | NetEase, Inc.                                                   | CUSIP: N/A<br>LEI: 5299004AF4DSJDB0PA32       | Long             | EC               | CORP              | KY        |     708800 | NS      | $19101712.40  | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                            | Intesa Sanpaolo SpA                                             | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |    2468443 | NS      | $14219244.54  | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                       | U.S. Treasury Bonds                                             | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    5150100 | PA      | $5121935.39   | 0.19%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MediaTek, Inc.                                                 | MediaTek, Inc.                                                  | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |     409000 | NS      | $17525102.91  | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                  | Netflix, Inc.                                                   | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      21688 | NS      | $29043051.44  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.com Ltd.                                                | Monday.com Ltd.                                                 | CUSIP: N/A<br>LEI: 984500MDAFVD86E3B328       | Long             | EC               | CORP              | IL        |      17636 | NS      | $5546169.28   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                                            | Cisco Systems, Inc.                                             | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     318889 | NS      | $22124518.82  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                            | Forward Foreign Currency Contract                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $662114.40    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                          | Ashtead Capital, Inc.                                           | CUSIP: 04505AAA7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    6981000 | PA      | $7074667.01   | 0.26%             | 2032-08-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, 30 Year                                                   | CUSIP: 31418FE37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   13125013 | PA      | $13134657.03  | 0.48%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions Corp.                           | Cognizant Technology Solutions Corp., Class A                   | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      43493 | NS      | $3393758.79   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                           | JPMorgan Chase & Co.                                            | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      24613 | NS      | $7135554.83   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway, Inc.                                       | Berkshire Hathaway, Inc., Class B                               | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |       9640 | NS      | $4682822.80   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever plc                                                   | Unilever plc                                                    | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |      88066 | NS      | $5374338.59   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                            | Forward Foreign Currency Contract                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $-6189633.30  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Finland                                            | Finland Government Bond                                         | CUSIP: N/A<br>LEI: 743700M6Y2OQRVSBRD14       | Long             | DBT              | NUSS              | FI        |    2085000 | PA      | $1509886.04   | 0.05%             | 2043-04-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                              | Lowe's Cos., Inc.                                               | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      13677 | NS      | $3034515.99   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujikura Ltd.                                                  | Fujikura Ltd.                                                   | CUSIP: N/A<br>LEI: 353800PSDZ8VRCKVPL51       | Long             | EC               | CORP              | JP        |      83800 | NS      | $4408335.91   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Colgate-Palmolive Co.                                          | Colgate-Palmolive Co.                                           | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      78603 | NS      | $7145012.70   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials, Inc.                                        | Applied Materials, Inc.                                         | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      18287 | NS      | $3347801.09   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                     | FHLMC Pool, 30 Year                                             | CUSIP: 3132DWMB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    4367161 | PA      | $4441456.13   | 0.16%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                           | FNMA, 30 Year                                                   | CUSIP: 3140XJT94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4233623 | PA      | $3667983.41   | 0.13%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                                     | Alibaba Group Holding Ltd.                                      | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |      74136 | NS      | $8407763.76   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                                 | Takeda Pharmaceutical Co. Ltd.                                  | CUSIP: 874060AW6<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    6500000 | PA      | $6624148.18   | 0.24%             | 2028-11-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vodafone Group plc                                             | Vodafone Group plc                                              | CUSIP: 92857WAQ3<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    2680000 | PA      | $2877925.80   | 0.10%             | 2037-02-27      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Itausa SA                                                      | Itausa SA                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | BR        |    5120535 | NS      | $10320049.01  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Bezeq The Israeli Telecommunication Corp. Ltd.                 | Bezeq The Israeli Telecommunication Corp. Ltd.                  | CUSIP: N/A<br>LEI: 213800XCGZCFSWY9U863       | Long             | EC               | CORP              | IL        |    2216502 | NS      | $3787714.20   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlassian Corp.                                                | Atlassian Corp., Class A                                        | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      22990 | NS      | $4669039.10   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                     | FHLMC Pool, 30 Year                                             | CUSIP: 3132DWJE4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   17354917 | PA      | $17068303.96  | 0.62%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United Kingdom of Great Britain and Northern Ireland           | United Kingdom Gilt                                             | CUSIP: N/A<br>LEI: ECTRVYYCEF89VWYS6K36       | Long             | DBT              | NUSS              | GB        |   15140000 | PA      | $21155937.61  | 0.77%             | 2034-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Insulet Corp.                                                  | Insulet Corp.                                                   | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      56931 | NS      | $17886581.58  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Erie Indemnity Co.                                             | Erie Indemnity Co., Class A                                     | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Long             | EC               | CORP              | US        |      10892 | NS      | $3777236.68   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin FTSE India ETF                                        | Franklin FTSE India ETF                                         | CUSIP: 35473P769<br>LEI: 549300NU5VJOW0B4VV12 | Long             |  | RF                | US        |     165050 | NS      | $6573941.50   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugai Pharmaceutical Co. Ltd.                                 | Chugai Pharmaceutical Co. Ltd.                                  | CUSIP: N/A<br>LEI: 529900T9LAII161DCN95       | Long             | EC               | CORP              | JP        |      56300 | NS      | $2939863.55   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                            | Herc Holdings, Inc.                                             | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    3876000 | PA      | $4050351.55   | 0.15%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                       | U.S. Treasury Bonds                                             | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   15236200 | PA      | $13963144.03  | 0.51%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AIB Group plc                                                  | AIB Group plc                                                   | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | EC               | CORP              | IE        |    2433100 | NS      | $20080012.89  | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP / RHP Finance Corp.                    | RHP Hotel Properties LP / RHP Finance Corp.                     | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    5350000 | PA      | $5507134.85   | 0.20%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Reliance, Inc.                                                 | Reliance, Inc.                                                  | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      19628 | NS      | $6161229.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Commonwealth of Australia                                      | Australia Government Bond                                       | CUSIP: N/A<br>LEI: 213800J6B7JSBDETCB42       | Long             | DBT              | NUSS              | AU        |   14933000 | PA      | $8321694.51   | 0.30%             | 2031-11-21      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| IDEXX Laboratories, Inc.                                       | IDEXX Laboratories, Inc.                                        | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      23390 | NS      | $12544992.60  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrefour SA                                                   | Carrefour SA                                                    | CUSIP: N/A<br>LEI: 549300B8P6MUJ1YWTS08       | Long             | EC               | CORP              | FR        |     200479 | NS      | $2828003.22   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Caterpillar, Inc.                                              | Caterpillar, Inc.                                               | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      10210 | NS      | $3963624.10   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp.                                                  | Comcast Corp.                                                   | CUSIP: 20030NDH1<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    6272000 | PA      | $5210019.44   | 0.19%             | 2040-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Japan                                                          | Japan Government Bond                                           | CUSIP: N/A<br>LEI: 353800WZS8AXZXFUC241       | Long             | DBT              | NUSS              | JP        |  707550000 | PA      | $4513228.87   | 0.16%             | 2055-03-20      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ServiceNow, Inc.                                               | ServiceNow, Inc.                                                | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       7935 | NS      | $8157814.80   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                                                  | UniCredit SpA                                                   | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |     471238 | NS      | $31612239.45  | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                       | U.S. Treasury Notes                                             | CUSIP: 91282CNE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   21009200 | PA      | $21060081.76  | 0.76%             | 2027-05-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Dick's Sporting Goods, Inc.                                    | Dick's Sporting Goods, Inc.                                     | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |      21020 | NS      | $4157966.20   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                     | FHLMC Pool, 30 Year                                             | CUSIP: 3132DWNZ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   13184852 | PA      | $13625200.34  | 0.49%             | 2055-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                   | AbbVie, Inc.                                                    | CUSIP: 00287YDW6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    9088000 | PA      | $8843158.10   | 0.32%             | 2054-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| People's Republic of China                                     | China Government Bond                                           | CUSIP: N/A<br>LEI: 300300CHN201808MOF68       | Long             | DBT              | NUSS              | CN        |  121580000 | PA      | $17360519.42  | 0.63%             | 2027-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                                | Microsoft Corp.                                                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     125071 | NS      | $62211566.11  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                     | FHLMC Pool, 30 Year                                             | CUSIP: 3132DWHS5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    5130934 | PA      | $5050305.06   | 0.18%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Beijing Oriental Yuhong Waterproof Technology Co. Ltd.         | Beijing Oriental Yuhong Waterproof Technology Co. Ltd., Class A | CUSIP: N/A<br>LEI: 300300XMIXB7STDZWT60       | Long             | EC               | CORP              | CN        |    5074500 | NS      | $7602935.07   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Kimberly-Clark Corp.                                           | Kimberly-Clark Corp.                                            | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      25935 | NS      | $3343540.20   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                       | U.S. Treasury Notes                                             | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   19769600 | PA      | $18241317.20  | 0.66%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Canada                                                         | Canada Government Bond                                          | CUSIP: 135087Q23<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |   19081000 | PA      | $13626223.07  | 0.49%             | 2033-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                     | FHLMC Pool, 30 Year                                             | CUSIP: 3132DWKW2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2136731 | PA      | $2173080.45   | 0.08%             | 2054-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Telkom Indonesia Persero Tbk. PT                               | Telkom Indonesia Persero Tbk. PT                                | CUSIP: N/A<br>LEI: 529900M5SQZAOKV1PC81       | Long             | EC               | CORP              | ID        |   13349900 | NS      | $2283922.86   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                     | FHLMC Pool, 30 Year                                             | CUSIP: 3132DWBY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    5100663 | PA      | $4060630.96   | 0.15%             | 2051-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| French Republic                                                | France Government Bond                                          | CUSIP: N/A<br>LEI: 969500KCGF3SUYJHPV70       | Long             | DBT              | NUSS              | FR        |    4728295 | PA      | $5212683.66   | 0.19%             | 2031-05-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| BB Seguridade Participacoes SA                                 | BB Seguridade Participacoes SA                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    1378500 | NS      | $9083267.38   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| French Republic                                                | France Government Bond                                          | CUSIP: N/A<br>LEI: 969500KCGF3SUYJHPV70       | Long             | DBT              | NUSS              | FR        |    5786000 | PA      | $5720137.49   | 0.21%             | 2031-11-25      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MercadoLibre, Inc.                                             | MercadoLibre, Inc.                                              | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       5885 | NS      | $15381212.55  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Investments Co.                                            | SEI Investments Co.                                             | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |     142721 | NS      | $12824909.06  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingdom of Spain                                               | Spain Bonos Y Oblig del Estado                                  | CUSIP: N/A<br>LEI: 9598007A56S18711AH60       | Long             | DBT              | NUSS              | ES        |    3087000 | PA      | $3671485.41   | 0.13%             | 2027-05-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| STERIS plc                                                     | STERIS plc                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |      13769 | NS      | $3307589.18   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line, Inc.                                | Old Dominion Freight Line, Inc.                                 | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      52844 | NS      | $8576581.20   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin High Yield Corporate ETF                              | Franklin High Yield Corporate ETF                               | CUSIP: 35473P629<br>LEI: 5493002F67QK4VNO5Q54 | Long             |  | RF                | US        |     205000 | NS      | $4991750.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                            | Forward Foreign Currency Contract                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $-358178.02   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                   | AbbVie, Inc.                                                    | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     199757 | NS      | $37078894.34  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Bundesrepublik Deutschland                                     | Bundesrepublik Deutschland                                      | CUSIP: N/A<br>LEI: 529900AQBND3S6YJLY83       | Long             | DBT              | NUSS              | DE        |   16633000 | PA      | $17572203.14  | 0.64%             | 2030-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| JBS NV                                                         | JBS NV                                                          | CUSIP: N/A<br>LEI: 254900JSFON4WL81TW77       | Long             | EC               | CORP              | NL        |     228650 | NS      | $3291438.87   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank AG                                               | Deutsche Bank AG                                                | CUSIP: 251526CE7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    3491000 | PA      | $3455976.58   | 0.13%             | 2026-11-24      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Booking Holdings, Inc.                                         | Booking Holdings, Inc.                                          | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       9396 | NS      | $54395699.04  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd.                                     | Alibaba Group Holding Ltd.                                      | CUSIP: 01609WAT9<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |    6300000 | PA      | $6193213.61   | 0.22%             | 2027-12-06      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                                          | Gilead Sciences, Inc.                                           | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      84607 | NS      | $9380378.09   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co.                                             | General Motors Co.                                              | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      65332 | NS      | $3214987.72   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                                            | Deutsche Telekom AG                                             | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |     252979 | NS      | $9259942.25   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                                    | Novartis AG                                                     | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |      71866 | NS      | $8722887.31   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Sompo Holdings, Inc.                                           | Sompo Holdings, Inc.                                            | CUSIP: N/A<br>LEI: 353800CWW4SRGEYEB512       | Long             | EC               | CORP              | JP        |     179100 | NS      | $5397143.13   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                          | OneMain Finance Corp.                                           | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    1308000 | PA      | $1287524.11   | 0.05%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| United States of America                                       | U.S. Treasury Notes                                             | CUSIP: 912828ZQ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   17657600 | PA      | $15195882.29  | 0.55%             | 2030-05-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Visa, Inc.                                                     | Visa, Inc., Class A                                             | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      45846 | NS      | $16277622.30  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| MidAmerican Energy Co.                                         | MidAmerican Energy Co.                                          | CUSIP: 595620AP0<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |   10392000 | PA      | $8626570.15   | 0.31%             | 2046-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Illinois Tool Works, Inc.                                      | Illinois Tool Works, Inc.                                       | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      13625 | NS      | $3368781.25   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties, Inc.                                     | Highwoods Properties, Inc.                                      | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     115272 | NS      | $3583806.48   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Software, Inc.                                   | Constellation Software, Inc.                                    | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |        921 | NS      | $3377078.91   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Aerospace                                                   | GE Aerospace                                                    | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      20691 | NS      | $5325656.49   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Institutional Fiduciary Trust - Money Market Portfolio         | Institutional Fiduciary Trust - Money Market Portfolio          | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  156366404 | NS      | $156366404.31 | 5.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                                                      | Orange SA                                                       | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | DBT              | CORP              | FR        |    4900000 | PA      | $5490255.66   | 0.20%             | 2030-09-12      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| People's Republic of China                                     | China Government Bond                                           | CUSIP: N/A<br>LEI: 300300CHN201808MOF68       | Long             | DBT              | NUSS              | CN        |   47210000 | PA      | $6747430.04   | 0.24%             | 2027-10-15      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| AstraZeneca plc                                                | AstraZeneca plc                                                 | CUSIP: 046353AT5<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |    4654000 | PA      | $4633022.33   | 0.17%             | 2029-01-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bundesschatzanweisungen                                        | Bundesschatzanweisungen                                         | CUSIP: N/A<br>LEI: 529900AQBND3S6YJLY83       | Long             | DBT              | NUSS              | DE        |   10373600 | PA      | $12184915.18  | 0.44%             | 2027-06-10      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Kumba Iron Ore Ltd.                                            | Kumba Iron Ore Ltd.                                             | CUSIP: N/A<br>LEI: 3789006C753402643048       | Long             | EC               | CORP              | ZA        |     183731 | NS      | $2958168.99   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                                                   | Fastenal Co.                                                    | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |      97100 | NS      | $4078200.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Richter Gedeon Nyrt.                                           | Richter Gedeon Nyrt.                                            | CUSIP: N/A<br>LEI: 549300J6ZJW5IH4WEE46       | Long             | EC               | CORP              | HU        |     142678 | NS      | $4205630.75   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM, Inc.                                                 | QUALCOMM, Inc.                                                  | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      22324 | NS      | $3555320.24   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                            | Forward Foreign Currency Contract                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |          1 | NC      | $126842.46    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                               | NRG Energy, Inc.                                                | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      56818 | NS      | $9123834.44   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                                                  | UniCredit SpA                                                   | CUSIP: 904678AY5<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    9889000 | PA      | $8961203.24   | 0.32%             | 2032-06-03      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                          | Lockheed Martin Corp.                                           | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |       9737 | NS      | $4509594.18   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Portuguese Republic                                            | Portugal Obrigacoes do Tesouro                                  | CUSIP: N/A<br>LEI: 549300P6U1FJ3IMP7K42       | Long             | DBT              | NUSS              | PT        |    6298945 | PA      | $7497750.61   | 0.27%             | 2026-07-21      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Suncor Energy, Inc.                                            | Suncor Energy, Inc.                                             | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     520825 | NS      | $19509662.75  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Financieringsmaatschappij NV                           | Siemens Financieringsmaatschappij NV                            | CUSIP: 82620KAL7<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    6748000 | PA      | $6603689.57   | 0.24%             | 2026-10-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                              | NatWest Group plc                                               | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |    1318602 | NS      | $9260481.39   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Instruments, Inc.                                        | Texas Instruments, Inc.                                         | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      47786 | NS      | $9921329.32   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                           | FNMA, 30 Year                                                   | CUSIP: 3140XNVT8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4529189 | PA      | $3765319.92   | 0.14%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                            | Petroleos Mexicanos                                             | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    5236000 | PA      | $5202895.91   | 0.19%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings plc                                       | Rolls-Royce Holdings plc                                        | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |     571000 | NS      | $7567261.87   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Xero Ltd.                                                      | Xero Ltd.                                                       | CUSIP: N/A<br>LEI: 254900UG5D8YST164N14       | Long             | EC               | CORP              | NZ        |      71627 | NS      | $8475570.19   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| VanEck J.P. Morgan EM Local Currency Bond ETF                  | VanEck J.P. Morgan EM Local Currency Bond ETF                   | CUSIP: 92189H300<br>LEI: 549300CNWPR88MZBEA63 | Long             |  | RF                | US        |     773281 | NS      | $19602673.35  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co. Ltd.                                   | Samsung Electronics Co. Ltd.                                    | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |     183341 | NS      | $8107636.30   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                               | Deutsche Bank AG                                                | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               | CORP              | DE        |     356564 | NS      | $10570493.73  | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Cintas Corp.                                                   | Cintas Corp.                                                    | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      35492 | NS      | $7910102.04   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                       | U.S. Treasury Notes                                             | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   18808500 | PA      | $18369879.95  | 0.66%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Franklin Fund Allocator Series

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer