# EDGAR Filing Document

**Accession Number:** 0000887340
**File Stem:** 0001752724-25-201290
**Filing Date:** 2025-8
**Character Count:** 132714
**Document Hash:** 0c73b5bbd9f8e12f08cc533a3c6da71d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-201290.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-201290

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEW YORK LIFE INVESTMENTS VP FUNDS TRUST
- **CENTRAL INDEX KEY:** 0000887340

**ORGANIZATION NAME:**
- **EIN:** 133186036
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03833-01
- **FILM NUMBER:** 251248749

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 2125767000

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAINSTAY VP FUNDS TRUST
- **DATE OF NAME CHANGE:** 20110429

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAINSTAY VP SERIES FUND INC
- **DATE OF NAME CHANGE:** 20010518

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEW YORK LIFE MFA SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### NYLI VP Bond Portfolio (Series ID: S000009445)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000025820 | Initial Class |  |
| C000025821 | Service Class |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** NEW YORK LIFE INVESTMENTS VP FUNDS TRUST

- **b. Investment Company Act file number:** 811-03833-01

- **c. CIK number of Registrant:** 0000887340

- **d. LEI of Registrant:** 549300AG6K4RXYNOVN04

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 212-576-7000

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

- **a. Name of Series:** NYLI VP Bond Portfolio

- **b. EDGAR series identifier (if any):** S000009445

- **c. LEI of Series:** 549300KB0UVVQINXSS10

**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:** $590089605.66

**Total Liabilities:** $27808569.03

**Net Assets:** $562281036.63

**Cash Not Reported:** $24284811.27

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -333.25000000 | **1-Year:** -14977.03000000 | **5-Year:** -40181.72000000 | **10-Year:** -63384.27000000 | **30-Year:** -102509.17000000

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

- **3-Month:** -58.20000000 | **1-Year:** -3001.59000000 | **5-Year:** -11518.48000000 | **10-Year:** -18040.57000000 | **30-Year:** -21985.37000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000025820 | 0.12%                | -0.64%               | 1.53%                |
| Class ID C000025821 | 0.10%                | -0.66%               | 1.51%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-17107.21               | $-954227.60                                |
| Month 2  | $-1240367.46             | $-3605063.55                               |
| Month 3  | $149228.04               | $5405721.36                                |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate

- **Index Identifier:** LEH__LHMN0001

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Intel Corp.                                        | Intel Corp.                                                        | CUSIP: 458140CK4<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    195000 | PA      | $183113.45    | 0.03%             | 2063-02-10      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                      | UMBS, Single Family, 30 Year                                       | CUSIP: 01F052672<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5800000 | PA      | $5798673.08   | 1.03%             | 2055-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                        | Intel Corp.                                                        | CUSIP: 458140CL2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    900000 | PA      | $898158.43    | 0.16%             | 2034-02-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| KeyCorp                                            | KeyCorp                                                            | CUSIP: 49326EEQ2<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   2295000 | PA      | $2322392.80   | 0.41%             | 2031-04-04      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Acquisition Trust             | J.P. Morgan Mortgage Acquisition Trust, Series 2007-CH2, Class AF3 | CUSIP: 46630MAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    374081 | PA      | $183763.48    | 0.03%             | 2030-10-25      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                     | Morgan Stanley                                                     | CUSIP: 61747YFR1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    715000 | PA      | $749076.30    | 0.13%             | 2035-04-19      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC Gold Pools, 30 Year                                          | CUSIP: 3128LXFL9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1179 | PA      | $1219.36      | 0.00%             | 2035-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2023-40, Class DL                                     | CUSIP: 38383WQE9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2500000 | PA      | $2501885.75   | 0.44%             | 2053-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                          | HCA, Inc.                                                          | CUSIP: 404119CL1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     85000 | PA      | $68307.51     | 0.01%             | 2052-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Georgia-Pacific LLC                                | Georgia-Pacific LLC                                                | CUSIP: 37331NAT8<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |   2290000 | PA      | $2317486.69   | 0.41%             | 2032-06-30      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Amphenol Corp.                                     | Amphenol Corp.                                                     | CUSIP: 032095AR2<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    750000 | PA      | $758050.62    | 0.13%             | 2035-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                  | Xcel Energy, Inc.                                                  | CUSIP: 98389BBB5<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1198620.03   | 0.21%             | 2034-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                        | ONEOK, Inc.                                                        | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    980000 | PA      | $993481.99    | 0.18%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                    | Goldman Sachs Group, Inc. (The)                                    | CUSIP: 38141GC44<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    750000 | PA      | $769116.38    | 0.14%             | 2036-01-28      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                       | Pacific Gas and Electric Co.                                       | CUSIP: 694308KM8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    310000 | PA      | $324046.73    | 0.06%             | 2033-06-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, 30 Year                                                   | CUSIP: 3622ACC40<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2808989 | PA      | $2570070.09   | 0.46%             | 2052-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA I, Single Family, 30 Year                                     | CUSIP: 36178GJ62<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     18029 | PA      | $17181.48     | 0.00%             | 2044-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Constellation Brands, Inc.                         | Constellation Brands, Inc.                                         | CUSIP: 21036PBP2<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |   1595000 | PA      | $1580391.43   | 0.28%             | 2033-05-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Sabey Data Center Issuer LLC                       | Sabey Data Center Issuer LLC, Series 2025-1, Class A2              | CUSIP: 78520EAH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2044401.00   | 0.36%             | 2050-02-21      | Fixed         | 5.73%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5517, Class MA                                | CUSIP: 3137HKH64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2374869 | PA      | $2360345.21   | 0.42%             | 2055-03-25      | Variable      | 7.86%                 | No            |                  2 | On Loan: No      |
| 225 Liberty Street Trust                           | 225 Liberty Street Trust, Series 2016-225L, Class A                | CUSIP: 902055AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1908071.20   | 0.34%             | 2036-02-10      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140W0CR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4727788 | PA      | $4147519.78   | 0.74%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                  | Wells Fargo & Co.                                                  | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2385000 | PA      | $2442628.80   | 0.43%             | 2031-04-23      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                         | Prudential Financial, Inc.                                         | CUSIP: 744320BA9<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    225000 | PA      | $172214.71    | 0.03%             | 2049-12-07      | Fixed         | 3.94%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2025-21                                               | CUSIP: 38381L5V0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  38958501 | PA      | $2733811.55   | 0.49%             | 2065-04-16      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140XNQX5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3746652 | PA      | $3689743.12   | 0.66%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                | CUSIP: 91282CMV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  43825000 | PA      | $43893476.56  | 7.81%             | 2027-03-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans LLC                      | College Ave Student Loans LLC, Series 2024-B, Class A1A            | CUSIP: 19423UAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2267134 | PA      | $2327262.40   | 0.41%             | 2054-08-25      | Fixed         | 5.69%                 | Yes           |                  2 | On Loan: No      |
| AbbVie, Inc.                                       | AbbVie, Inc.                                                       | CUSIP: 00287YCA5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    135000 | PA      | $118328.41    | 0.02%             | 2039-11-21      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA I, Single Family, 30 Year                                     | CUSIP: 36295WJE8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    105604 | PA      | $103517.09    | 0.02%             | 2040-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Bonds                                                | CUSIP: 912810TC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1795000 | PA      | $1234483.21   | 0.22%             | 2041-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                        | HOMES Trust, Series 2025-AFC2, Class A1A                           | CUSIP: 43761YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $2001310.60   | 0.36%             | 2060-06-25      | Variable      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                          | Williams Cos., Inc. (The)                                          | CUSIP: 96949LAE5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    570000 | PA      | $493698.08    | 0.09%             | 2048-03-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Georgia Power Co.                                  | Georgia Power Co.                                                  | CUSIP: 373334KT7<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   1735000 | PA      | $1748439.40   | 0.31%             | 2033-05-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Bonds                                                | CUSIP: 912810UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1250000 | PA      | $1225830.08   | 0.22%             | 2044-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA I, Single Family, 30 Year                                     | CUSIP: 36182LDS3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    107246 | PA      | $101443.14    | 0.02%             | 2044-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                         | Warnermedia Holdings, Inc.                                         | CUSIP: 55903VBC6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1271812.50   | 0.23%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                           | UnitedHealth Group, Inc.                                           | CUSIP: 91324PET5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    825000 | PA      | $837144.48    | 0.15%             | 2063-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC Gold Pools, 30 Year                                          | CUSIP: 3128KUMZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     12109 | PA      | $12700.14     | 0.00%             | 2037-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loan Trust                            | Mosaic Solar Loan Trust, Series 2025-1A, Class B                   | CUSIP: 61945HAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1350302 | PA      | $1334081.72   | 0.24%             | 2050-08-22      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| CNA Financial Corp.                                | CNA Financial Corp.                                                | CUSIP: 126117AY6<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |    805000 | PA      | $806249.33    | 0.14%             | 2034-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank NA                             | Morgan Stanley Bank NA                                             | CUSIP: 61690U8A1<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    895000 | PA      | $902208.50    | 0.16%             | 2028-01-14      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| Virginia Electric and Power Co.                    | Virginia Electric and Power Co.                                    | CUSIP: 927804GR9<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1513205.52   | 0.27%             | 2034-08-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5427, Class Z                                 | CUSIP: 3137HDRT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2112816 | PA      | $2106743.91   | 0.37%             | 2054-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                        | Capital One Financial Corp.                                        | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    415000 | PA      | $422489.52    | 0.08%             | 2036-01-30      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                       | AbbVie, Inc.                                                       | CUSIP: 00287YDU0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1588333.67   | 0.28%             | 2034-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Equitable America Global Funding                   | Equitable America Global Funding                                   | CUSIP: 29446Q2B8<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2426149.27   | 0.43%             | 2030-06-09      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| Ballyrock CLO 23 Ltd.                              | Ballyrock CLO 23 Ltd., Series 2023-23A, Class A2R                  | CUSIP: 05874VAN3<br>LEI: 254900TBQBTBNIDKIF15 | Long             | ABS-CBDO         | CORP              | JE        |   2500000 | PA      | $2513230.00   | 0.45%             | 2038-04-25      | Floating      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| Duke Energy Ohio, Inc.                             | Duke Energy Ohio, Inc.                                             | CUSIP: 26442EAJ9<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |    205000 | PA      | $211126.57    | 0.04%             | 2033-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                       | Barclays plc                                                       | CUSIP: 06738ECV5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1630000 | PA      | $1617765.40   | 0.29%             | 2035-09-10      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC               | Charter Communications Operating LLC                               | CUSIP: 161175CL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1031600.22   | 0.18%             | 2063-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cloud Capital Holdco LP                            | Cloud Capital Holdco LP, Series 2024-1A, Class A2                  | CUSIP: 102104AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2026157.80   | 0.36%             | 2049-11-22      | Fixed         | 5.78%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)           | PNC Financial Services Group, Inc. (The)                           | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    620000 | PA      | $693099.18    | 0.12%             | 2034-10-20      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                  | Lowe's Cos., Inc.                                                  | CUSIP: 548661EQ6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    450000 | PA      | $459216.09    | 0.08%             | 2033-07-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                 | General Motors Financial Co., Inc.                                 | CUSIP: 37045XDZ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   3295000 | PA      | $3305706.15   | 0.59%             | 2025-10-10      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Georgia Power Co.                                  | Georgia Power Co.                                                  | CUSIP: 373334JW2<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |    141000 | PA      | $121692.68    | 0.02%             | 2042-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                      | Comcast Corp.                                                      | CUSIP: 20030NCL3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    740000 | PA      | $685311.51    | 0.12%             | 2038-10-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| NSTAR Electric Co.                                 | NSTAR Electric Co.                                                 | CUSIP: 67021CAS6<br>LEI: 54930080R72Y2Z31UR68 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $881495.05    | 0.16%             | 2052-06-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                       | Oracle Corp.                                                       | CUSIP: 68389XCA1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    360000 | PA      | $265714.07    | 0.05%             | 2051-03-25      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Blackstone Holdings Finance Co. LLC                | Blackstone Holdings Finance Co. LLC                                | CUSIP: 09261BAJ9<br>LEI: 549300D2L6J4NC1QVZ22 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3101757.33   | 0.55%             | 2027-11-03      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                | U.S. Treasury 5 Year Notes                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        80 | NC      | $64311.69     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings plc                                  | HSBC Holdings plc                                                  | CUSIP: 404280DR7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2415000 | PA      | $2564705.13   | 0.46%             | 2028-11-03      | Variable      | 7.39%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, Single Family, 30 Year                                    | CUSIP: 36179WQB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2782583 | PA      | $2464058.49   | 0.44%             | 2051-10-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, 30 Year                                                   | CUSIP: 3622AB4V1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2520235 | PA      | $2425740.99   | 0.43%             | 2052-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC            | Daimler Truck Finance North America LLC                            | CUSIP: 233853BF6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    780000 | PA      | $793822.11    | 0.14%             | 2035-01-13      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                     | Blackstone Private Credit Fund                                     | CUSIP: 09261HBA4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   1870000 | PA      | $1880295.83   | 0.33%             | 2025-09-29      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 15 Year                                                      | CUSIP: 3140QLJ23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2777351 | PA      | $2552971.45   | 0.45%             | 2036-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                       | Verizon Communications, Inc.                                       | CUSIP: 92343VGT5<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1285000 | PA      | $1302998.40   | 0.23%             | 2033-05-09      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11650000 | PA      | $11668203.13  | 2.08%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 31413HNX2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8118 | PA      | $8558.40      | 0.00%             | 2037-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                               | JPMorgan Chase & Co.                                               | CUSIP: 46647PEE2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $1137879.92   | 0.20%             | 2028-04-22      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, Single Family, 30 Year                                    | CUSIP: 36179XLH7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1447242 | PA      | $1428896.75   | 0.25%             | 2052-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Simon Property Group LP                            | Simon Property Group LP                                            | CUSIP: 828807DL8<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1837271.36   | 0.33%             | 2028-02-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| EOG Resources, Inc.                                | EOG Resources, Inc.                                                | CUSIP: 26875PAY7<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |   1310000 | PA      | $1325932.05   | 0.24%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, REMIC, Series 2025-35, Class MT                              | CUSIP: 3136BVF86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2655184 | PA      | $2744365.17   | 0.49%             | 2055-05-25      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                  | Wells Fargo & Co.                                                  | CUSIP: 95000U3T8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    825000 | PA      | $836544.12    | 0.15%             | 2029-04-23      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| CENT Trust                                         | CENT Trust, Series 2023-CITY, Class A                              | CUSIP: 12516WAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2400000 | PA      | $2402982.96   | 0.43%             | 2038-09-15      | Floating      | 6.93%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                               | JPMorgan Chase & Co.                                               | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3205000 | PA      | $3284497.43   | 0.58%             | 2031-04-22      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, Single Family, 30 Year                                    | CUSIP: 36179W2X5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1885454 | PA      | $1760869.37   | 0.31%             | 2052-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                      | UMBS, Single Family, 30 Year                                       | CUSIP: 01F052672<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |  -1500000 | PA      | $-1499656.83  | -0.27%            | 2055-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cedar Funding XIX CLO Ltd.                         | Cedar Funding XIX CLO Ltd., Series 2024-19A, Class B               | CUSIP: 15033CAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2006070.00   | 0.36%             | 2038-01-23      | Floating      | 5.94%                 | Yes           |                  2 | On Loan: No      |
| Truist Bank                                        | Truist Bank                                                        | CUSIP: 07330MAC1<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   1005000 | PA      | $993082.80    | 0.18%             | 2029-09-17      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| Southwest Gas Corp.                                | Southwest Gas Corp.                                                | CUSIP: 845011AH8<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |    445000 | PA      | $454970.11    | 0.08%             | 2028-03-23      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                         | UMBS Pool, 30 Year                                                 | CUSIP: 3132DS7M8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2927272 | PA      | $2345641.51   | 0.42%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                       | Pacific Gas and Electric Co.                                       | CUSIP: 694308KF3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1476898.68   | 0.26%             | 2027-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3138WQAT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    204108 | PA      | $179481.06    | 0.03%             | 2043-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Oklahoma Gas and Electric Co.                      | Oklahoma Gas and Electric Co.                                      | CUSIP: 678858BY6<br>LEI: 549300VJ8YXGPO8EV472 | Long             | DBT              | CORP              | US        |    470000 | PA      | $457760.15    | 0.08%             | 2053-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                               | JPMorgan Chase & Co.                                               | CUSIP: 46647PEX0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2410000 | PA      | $2497587.38   | 0.44%             | 2036-04-22      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                       | Verizon Communications, Inc.                                       | CUSIP: 92343VGZ1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    755000 | PA      | $761290.40    | 0.14%             | 2035-04-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Sunnova Helios XIV Issuer LLC                      | Sunnova Helios XIV Issuer LLC, Series 2024-B, Class A              | CUSIP: 866974AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2995531 | PA      | $2912518.96   | 0.52%             | 2051-05-22      | Fixed         | 6.15%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                | U.S. Treasury Long Bonds                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       306 | NC      | $1615484.16   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                       | Oracle Corp.                                                       | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1345000 | PA      | $1256024.56   | 0.22%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, Series 2025-7, Class HB                                      | CUSIP: 3136BUXA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |   2289544 | PA      | $2274317.85   | 0.40%             | 2054-06-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                     | Southern California Edison Co.                                     | CUSIP: 842400HT3<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    420000 | PA      | $431003.46    | 0.08%             | 2032-11-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                         | UMBS Pool, 30 Year                                                 | CUSIP: 3132DQZV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2481689 | PA      | $2323648.39   | 0.41%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2024-32                                               | CUSIP: 38381J2J5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  45652787 | PA      | $2347384.15   | 0.42%             | 2063-06-16      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| Duke Energy Indiana LLC                            | Duke Energy Indiana LLC                                            | CUSIP: 263901AB6<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |    600000 | PA      | $657164.46    | 0.12%             | 2039-04-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Entergy Arkansas LLC                               | Entergy Arkansas LLC                                               | CUSIP: 29366MAD0<br>LEI: 549300A0I5ONUIFMLP35 | Long             | DBT              | CORP              | US        |   1695000 | PA      | $1736894.60   | 0.31%             | 2033-01-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                                | BWAY Mortgage Trust, Series 2013-1515, Class A2                    | CUSIP: 05604FAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1963358 | PA      | $1866875.08   | 0.33%             | 2033-03-10      | Fixed         | 3.45%                 | Yes           |                  2 | On Loan: No      |
| PECO Energy Co.                                    | PECO Energy Co.                                                    | CUSIP: 693304BF3<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |   1255000 | PA      | $1274184.33   | 0.23%             | 2033-06-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                            | MPLX LP                                                            | CUSIP: 55336VBX7<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1486015.96   | 0.26%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                              | Targa Resources Corp.                                              | CUSIP: 87612GAK7<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    475000 | PA      | $476664.02    | 0.08%             | 2035-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORL Trust                                          | ORL Trust, Series 2024-GLKS, Class B                               | CUSIP: 67120DAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2496093.75   | 0.44%             | 2039-12-15      | Floating      | 6.20%                 | Yes           |                  2 | On Loan: No      |
| Capital Automotive REIT                            | Capital Automotive REIT, Series 2024-2A, Class A2                  | CUSIP: 12510HAX8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1726302 | PA      | $1713694.86   | 0.30%             | 2054-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                         | Corebridge Financial, Inc.                                         | CUSIP: 21871XAK5<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    190000 | PA      | $159477.72    | 0.03%             | 2042-04-05      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, REMIC, Series 2025-12, Class ET                              | CUSIP: 3136BVJC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2110673 | PA      | $2122288.33   | 0.38%             | 2055-03-25      | Floating      | 8.61%                 | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                | Cisco Systems, Inc.                                                | CUSIP: 17275RBU5<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    870000 | PA      | $843699.80    | 0.15%             | 2054-02-26      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.              | NextEra Energy Capital Holdings, Inc.                              | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    600000 | PA      | $613320.29    | 0.11%             | 2055-08-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, Single Family, 30 Year                                    | CUSIP: 21H060671<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1750000 | PA      | $1775562.72   | 0.32%             | 2055-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I LLC                 | CyrusOne Data Centers Issuer I LLC, Series 2023-1A, Class A2       | CUSIP: 23284BAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2750000 | PA      | $2683222.30   | 0.48%             | 2048-04-20      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| Intel Corp.                                        | Intel Corp.                                                        | CUSIP: 458140CJ7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    910000 | PA      | $846881.04    | 0.15%             | 2053-02-10      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, Other                                                        | CUSIP: 3140FX4D1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3079605 | PA      | $2531400.64   | 0.45%             | 2064-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2025-41, Class MB                                     | CUSIP: 38385EPY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2344653 | PA      | $2317982.21   | 0.41%             | 2054-11-20      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                      | UMBS, Single Family, 30 Year                                       | CUSIP: 01F022675<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   9250000 | PA      | $7667978.33   | 1.36%             | 2055-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                       | Pacific Gas and Electric Co.                                       | CUSIP: 694308KJ5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    460000 | PA      | $473779.07    | 0.08%             | 2033-01-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Cigna Group (The)                                  | Cigna Group (The)                                                  | CUSIP: 125523AK6<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    540000 | PA      | $471440.69    | 0.08%             | 2048-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Meta Platforms, Inc.                               | Meta Platforms, Inc.                                               | CUSIP: 30303M8W5<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    800000 | PA      | $781789.80    | 0.14%             | 2064-08-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2021-106                                              | CUSIP: 38381DMB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  39055592 | PA      | $2582176.06   | 0.46%             | 2063-04-16      | Variable      | 0.86%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                         | Warnermedia Holdings, Inc.                                         | CUSIP: 55903VBB8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    535000 | PA      | $428000.00    | 0.08%             | 2029-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| JB Hunt Transport Services, Inc.                   | JB Hunt Transport Services, Inc.                                   | CUSIP: 445658CG0<br>LEI: 549300XCD1MPI1C5GK90 | Long             | DBT              | CORP              | US        |   1815000 | PA      | $1841822.32   | 0.33%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Navient Private Education Refi Loan Trust          | Navient Private Education Refi Loan Trust, Series 2021-DA, Class D | CUSIP: 63942CAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2254935 | PA      | $2155839.08   | 0.38%             | 2060-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 31410PF57<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8664 | PA      | $9156.70      | 0.00%             | 2036-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cars Net Lease Mortgage Notes                      | Cars Net Lease Mortgage Notes, Series 2020-1A, Class A2            | CUSIP: 14576AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1935000 | PA      | $1690316.78   | 0.30%             | 2050-12-15      | Fixed         | 2.48%                 | Yes           |                  2 | On Loan: No      |
| Southern Co. (The)                                 | Southern Co. (The)                                                 | CUSIP: 842587DM6<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    770000 | PA      | $770834.50    | 0.14%             | 2025-10-06      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Public Service Co. of Oklahoma                     | Public Service Co. of Oklahoma                                     | CUSIP: 744533BS8<br>LEI: F3TJNSIZRGXRH8GEIK79 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1389864.01   | 0.25%             | 2036-01-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| N/A                                                | U.S. Treasury 2 Year Notes                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -68 | NC      | $-45207.29    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                               | FNMA, Other                                                        | CUSIP: 3140FX3S9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3398794 | PA      | $3174108.26   | 0.56%             | 2064-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | U.S. Treasury 10 Year Notes                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -5 | NC      | $-9384.10     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group, Inc.                     | Citizens Financial Group, Inc.                                     | CUSIP: 174610BG9<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1164106.36   | 0.21%             | 2035-04-25      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                     | Morgan Stanley                                                     | CUSIP: 61747YFT7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    735000 | PA      | $743972.57    | 0.13%             | 2035-07-19      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                       | Pacific Gas and Electric Co.                                       | CUSIP: 694308KH9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    400000 | PA      | $402458.16    | 0.07%             | 2053-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                     | Morgan Stanley                                                     | CUSIP: 61747YET8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2590000 | PA      | $2589599.30   | 0.46%             | 2026-07-17      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                         | UMBS Pool, 30 Year                                                 | CUSIP: 3132DMUS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4035662 | PA      | $3579965.30   | 0.64%             | 2051-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Corebridge Global Funding                          | Corebridge Global Funding                                          | CUSIP: 00138CAX6<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |   2230000 | PA      | $2283928.45   | 0.41%             | 2029-01-12      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                          | HCA, Inc.                                                          | CUSIP: 404119CK3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    965000 | PA      | $890102.26    | 0.16%             | 2032-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| VLS Commercial Mortgage Trust                      | VLS Commercial Mortgage Trust, Series 2020-LAB, Class A            | CUSIP: 92858TAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2123314.25   | 0.38%             | 2042-10-10      | Fixed         | 2.13%                 | Yes           |                  2 | On Loan: No      |
| Sunnova Helios XIII Issuer LLC                     | Sunnova Helios XIII Issuer LLC, Series 2024-A, Class A             | CUSIP: 86745CAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1394518 | PA      | $1289952.93   | 0.23%             | 2051-02-20      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Huntington Bancshares, Inc.                        | Huntington Bancshares, Inc.                                        | CUSIP: 446150BE3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   2260000 | PA      | $2315589.24   | 0.41%             | 2031-01-15      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO XIV LLC                               | Owl Rock CLO XIV LLC, Series 2023-14A, Class A                     | CUSIP: 69121MAA8<br>LEI: 254900B8IYPWONWXYZ94 | Long             | ABS-CBDO         | CORP              | US        |   2500000 | PA      | $2508285.00   | 0.45%             | 2035-10-20      | Floating      | 6.67%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 31413FHQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1705 | PA      | $1782.87      | 0.00%             | 2037-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                         | UMBS Pool, 30 Year                                                 | CUSIP: 3132DSQM7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4058473 | PA      | $3254588.30   | 0.58%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BAE Systems plc                                    | BAE Systems plc                                                    | CUSIP: 05523RAM9<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |    430000 | PA      | $424358.41    | 0.08%             | 2054-03-26      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2023-111, Class ZL                                    | CUSIP: 38384CJJ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1952951 | PA      | $2014750.97   | 0.36%             | 2053-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Meta Platforms, Inc.                               | Meta Platforms, Inc.                                               | CUSIP: 30303M8J4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    890000 | PA      | $750365.57    | 0.13%             | 2052-08-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                 | Morgan Stanley Mortgage Loan Trust, Series 2006-17XS, Class A3A    | CUSIP: 61751DAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    726105 | PA      | $202219.70    | 0.04%             | 2046-10-25      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                              | Bank of America Corp.                                              | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3345000 | PA      | $3251269.12   | 0.58%             | 2027-07-22      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5520, Class SB                                | CUSIP: 3137HK3N2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  24485530 | PA      | $2421298.13   | 0.43%             | 2055-03-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 31418DUF7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3898009 | PA      | $2935954.48   | 0.52%             | 2050-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                  | Lowe's Cos., Inc.                                                  | CUSIP: 548661ER4<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    230000 | PA      | $224855.80    | 0.04%             | 2053-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, Single Family, 30 Year                                    | CUSIP: 36179XBV7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1339396 | PA      | $1321975.81   | 0.24%             | 2052-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC            | Daimler Truck Finance North America LLC                            | CUSIP: 233853BD1<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153507.63    | 0.03%             | 2030-01-13      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA or FHLMC                                      | UMBS, Single Family, 30 Year                                       | CUSIP: 01F022675<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |  -3150000 | PA      | $-2611257.48  | -0.46%            | 2055-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                    | Citigroup, Inc.                                                    | CUSIP: 172967NX5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3705000 | PA      | $3713321.02   | 0.66%             | 2026-09-29      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| EOG Resources, Inc.                                | EOG Resources, Inc.                                                | CUSIP: 26875PAX9<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |   3450000 | PA      | $3469919.75   | 0.62%             | 2028-07-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Bonds                                                | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10275000 | PA      | $10217203.13  | 1.82%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                     | Broadcom, Inc.                                                     | CUSIP: 11135FBL4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    835000 | PA      | $745899.85    | 0.13%             | 2034-04-15      | Fixed         | 3.47%                 | Yes           |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                         | Occidental Petroleum Corp.                                         | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    720000 | PA      | $736648.24    | 0.13%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, Other                                                        | CUSIP: 3140FX2C5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1790693 | PA      | $1712827.56   | 0.30%             | 2063-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Patterson-UTI Energy, Inc.                         | Patterson-UTI Energy, Inc.                                         | CUSIP: 703481AD3<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |   1595000 | PA      | $1633241.40   | 0.29%             | 2033-10-01      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, 30 Year                                                   | CUSIP: 36179WVU9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     71722 | PA      | $60965.11     | 0.01%             | 2052-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Waste Connections, Inc.                            | Waste Connections, Inc.                                            | CUSIP: 94106BAA9<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |   1785000 | PA      | $1660874.92   | 0.30%             | 2030-02-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev Worldwide, Inc.               | Anheuser-Busch InBev Worldwide, Inc.                               | CUSIP: 03523TBV9<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   1770000 | PA      | $1756574.46   | 0.31%             | 2049-01-23      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                             | Home Depot, Inc. (The)                                             | CUSIP: 437076CT7<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $973302.61    | 0.17%             | 2052-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                        | United Parcel Service, Inc.                                        | CUSIP: 911312BQ8<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    480000 | PA      | $391324.96    | 0.07%             | 2049-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| QUALCOMM, Inc.                                     | QUALCOMM, Inc.                                                     | CUSIP: 747525BR3<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    260000 | PA      | $220149.94    | 0.04%             | 2052-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                       | Pacific Gas and Electric Co.                                       | CUSIP: 694308KL0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    675000 | PA      | $699336.52    | 0.12%             | 2029-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp.                                     | Amphenol Corp.                                                     | CUSIP: 032095AS0<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    415000 | PA      | $406019.69    | 0.07%             | 2054-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                     | Morgan Stanley                                                     | CUSIP: 61747YFL4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    850000 | PA      | $869592.63    | 0.15%             | 2035-01-18      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Metropolitan Life Global Funding I                 | Metropolitan Life Global Funding I                                 | CUSIP: 59217GFP9<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |    940000 | PA      | $954033.18    | 0.17%             | 2033-03-28      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Oracle Corp.                                       | Oracle Corp.                                                       | CUSIP: 68389XDA0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1512790.39   | 0.27%             | 2035-08-03      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                        | United Parcel Service, Inc.                                        | CUSIP: 911312CE4<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    750000 | PA      | $727273.88    | 0.13%             | 2054-05-22      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC               | Charter Communications Operating LLC                               | CUSIP: 161175BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $891693.73    | 0.16%             | 2031-04-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, REMIC, Series 2024-43, Class B                               | CUSIP: 3136BSQU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |   2250000 | PA      | $2279458.80   | 0.41%             | 2054-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                       | UBS Group AG                                                       | CUSIP: 902613BQ0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    605000 | PA      | $618682.86    | 0.11%             | 2036-05-09      | Variable      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, 30 Year                                                   | CUSIP: 3622ACLF5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3373346 | PA      | $2703875.46   | 0.48%             | 2051-03-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                        | ONEOK, Inc.                                                        | CUSIP: 682680CF8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    505000 | PA      | $466136.68    | 0.08%             | 2054-11-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Arizona Public Service Co.                         | Arizona Public Service Co.                                         | CUSIP: 040555DG6<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |    825000 | PA      | $844311.00    | 0.15%             | 2033-08-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Bonds                                                | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2140000 | PA      | $1556850.00   | 0.28%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                         | UMBS Pool, 30 Year                                                 | CUSIP: 3132DWCX9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2611728 | PA      | $2369412.08   | 0.42%             | 2051-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                         | Warnermedia Holdings, Inc.                                         | CUSIP: 55903VBE2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    560000 | PA      | $390600.00    | 0.07%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                | CUSIP: 91282CMT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18825000 | PA      | $18991924.85  | 3.38%             | 2032-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                   | Paramount Global                                                   | CUSIP: 124857AJ2<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    780000 | PA      | $614964.85    | 0.11%             | 2042-07-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans LLC                      | College Ave Student Loans LLC, Series 2023-A, Class C              | CUSIP: 193938AD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1872666 | PA      | $1891560.45   | 0.34%             | 2055-05-25      | Fixed         | 6.06%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                  | HSBC Holdings plc                                                  | CUSIP: 404280DX4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    880000 | PA      | $934859.59    | 0.17%             | 2034-06-20      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                 | T-Mobile USA, Inc.                                                 | CUSIP: 87264ADC6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    370000 | PA      | $387501.07    | 0.07%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                  | Enterprise Products Operating LLC                                  | CUSIP: 29379VBU6<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    390000 | PA      | $340000.17    | 0.06%             | 2049-02-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                       | Pacific Gas and Electric Co.                                       | CUSIP: 694308KP1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    600000 | PA      | $645895.19    | 0.11%             | 2034-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| GA Global Funding Trust                            | GA Global Funding Trust                                            | CUSIP: 36143L2S3<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |   1565000 | PA      | $1587325.63   | 0.28%             | 2035-01-13      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                    | Goldman Sachs Group, Inc. (The)                                    | CUSIP: 38141GA46<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1835000 | PA      | $1946506.00   | 0.35%             | 2029-10-24      | Variable      | 6.48%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                    | Citigroup, Inc.                                                    | CUSIP: 172967PN5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    810000 | PA      | $822585.01    | 0.15%             | 2034-11-19      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                          | Ford Motor Credit Co. LLC                                          | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1870000 | PA      | $1857163.95   | 0.33%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                 | Southern Co. (The)                                                 | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    370000 | PA      | $388647.05    | 0.07%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                     | Broadcom, Inc.                                                     | CUSIP: 11135FCF6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1961707.46   | 0.35%             | 2030-04-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| KeyBank NA                                         | KeyBank NA                                                         | CUSIP: 49327V2C7<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    250000 | PA      | $241242.06    | 0.04%             | 2032-08-08      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 31374TAG4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1349 | PA      | $1351.24      | 0.00%             | 2028-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Targa Resources Partners LP                        | Targa Resources Partners LP                                        | CUSIP: 87612BBQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3075000 | PA      | $3120750.40   | 0.56%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Leggett & Platt, Inc.                              | Leggett & Platt, Inc.                                              | CUSIP: 524660AZ0<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | DBT              | CORP              | US        |   2455000 | PA      | $2386297.41   | 0.42%             | 2029-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp.                                  | Duke Energy Corp.                                                  | CUSIP: 26441CBH7<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    960000 | PA      | $871141.32    | 0.15%             | 2030-06-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 31413Y7B1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2886 | PA      | $3048.78      | 0.00%             | 2037-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2021-104, Class BI                                    | CUSIP: 38382UGE5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  13390617 | PA      | $2673707.26   | 0.48%             | 2051-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PRPM Trust                                         | PRPM Trust, Series 2025-NQM1, Class A3                             | CUSIP: 74391EAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2273379 | PA      | $2296699.86   | 0.41%             | 2069-11-25      | Variable      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                        | Toronto-Dominion Bank (The)                                        | CUSIP: 89116CQJ9<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1310000 | PA      | $1313759.70   | 0.23%             | 2034-09-10      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                         | UMBS Pool, 30 Year                                                 | CUSIP: 3133KQEV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4745287 | PA      | $4676636.76   | 0.83%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, Single Family, 30 Year                                    | CUSIP: 21H052678<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3500000 | PA      | $3504593.02   | 0.62%             | 2055-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                 | Energy Transfer LP                                                 | CUSIP: 29278NAR4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $873275.35    | 0.16%             | 2050-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                    | Solventum Corp.                                                    | CUSIP: 83444MAS0<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    490000 | PA      | $489838.32    | 0.09%             | 2054-04-30      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, REMIC, Series 2024-46, Class BS                              | CUSIP: 3136BSJM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  28493939 | PA      | $2174848.36   | 0.39%             | 2054-07-25      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                        | Amgen, Inc.                                                        | CUSIP: 031162DK3<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    605000 | PA      | $528332.71    | 0.09%             | 2053-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                             | Keurig Dr Pepper, Inc.                                             | CUSIP: 49271VBA7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   2190000 | PA      | $2201117.62   | 0.39%             | 2030-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                       | Oracle Corp.                                                       | CUSIP: 68389XCQ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    850000 | PA      | $799316.53    | 0.14%             | 2053-02-06      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                               | Ally Financial, Inc.                                               | CUSIP: 02005NBT6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1842210.65   | 0.33%             | 2029-06-13      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                  | Wells Fargo & Co.                                                  | CUSIP: 95000U3C5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2260000 | PA      | $2259520.18   | 0.40%             | 2026-08-15      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140QQVA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3251653 | PA      | $3273368.04   | 0.58%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                       | UBS Group AG                                                       | CUSIP: 225401AV0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1445000 | PA      | $1501457.68   | 0.27%             | 2028-08-11      | Variable      | 6.44%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)           | PNC Financial Services Group, Inc. (The)                           | CUSIP: 693475CD5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2220000 | PA      | $2248196.84   | 0.40%             | 2031-05-13      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| AEP Transmission Co. LLC                           | AEP Transmission Co. LLC, Series O                                 | CUSIP: 00115AAP4<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |    235000 | PA      | $197118.24    | 0.04%             | 2052-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, 30 Year                                                   | CUSIP: 36179XFD3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     22581 | PA      | $19193.83     | 0.00%             | 2052-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA I, Single Family, 30 Year                                     | CUSIP: 36297KZU8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    263636 | PA      | $261614.44    | 0.05%             | 2039-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SHR Trust                                          | SHR Trust, Series 2024-LXRY, Class A                               | CUSIP: 784234AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2750000 | PA      | $2748281.25   | 0.49%             | 2041-10-15      | Floating      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | FNMA, ACES, REMIC, Series 2019-M12, Class X3                       | CUSIP: 3136B5NY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  77000000 | PA      | $1681148.70   | 0.30%             | 2029-06-25      | Variable      | 0.72%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                       | Pacific Gas and Electric Co.                                       | CUSIP: 694308KV8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    550000 | PA      | $513160.25    | 0.09%             | 2055-03-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                 | A&D Mortgage Trust, Series 2023-NQM4, Class A1                     | CUSIP: 00002MAA7<br>LEI: 9845002EOD0CFAFA4F48 | Long             | ABS-MBS          | CORP              | US        |   2061910 | PA      | $2095353.65   | 0.37%             | 2068-09-25      | Variable      | 7.47%                 | Yes           |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                | CUSIP: 91282CNH0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16650000 | PA      | $16738453.13  | 2.98%             | 2028-06-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| National Rural Utilities Cooperative Finance Corp. | National Rural Utilities Cooperative Finance Corp.                 | CUSIP: 63743HFJ6<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |   1345000 | PA      | $1375750.92   | 0.24%             | 2028-09-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                     | Southern California Edison Co.                                     | CUSIP: 842400HU0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    760000 | PA      | $769665.87    | 0.14%             | 2028-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Lincoln Financial Global Funding                   | Lincoln Financial Global Funding                                   | CUSIP: 53359KAA9<br>LEI: 984500OC010458395923 | Long             | DBT              | CORP              | US        |   1795000 | PA      | $1844448.73   | 0.33%             | 2030-01-13      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Amazon.com, Inc.                                   | Amazon.com, Inc.                                                   | CUSIP: 023135CJ3<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    650000 | PA      | $512933.92    | 0.09%             | 2052-04-13      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| N/A                                                | U.S. Treasury 10 Year Ultra Bonds                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -283 | NC      | $-842746.91   | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| AT&T, Inc.                                         | AT&T, Inc.                                                         | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    797000 | PA      | $537774.04    | 0.10%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                              | Westpac Banking Corp.                                              | CUSIP: 961214FW8<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    700000 | PA      | $704632.97    | 0.13%             | 2035-11-20      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO XXXVII Ltd.            | Benefit Street Partners CLO XXXVII Ltd., Series 2024-37A, Class A  | CUSIP: 08182TAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2504527.50   | 0.45%             | 2038-01-25      | Floating      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| CARS-DB7 LP                                        | CARS-DB7 LP, Series 2023-1A, Class A2                              | CUSIP: 12510HAT7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1715000 | PA      | $1733337.90   | 0.31%             | 2053-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Duke Energy Corp.                                  | Duke Energy Corp.                                                  | CUSIP: 26441CBU8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    365000 | PA      | $319996.93    | 0.06%             | 2052-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | FNMA, Other                                                        | CUSIP: 3140FXZY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5009312 | PA      | $4083481.54   | 0.73%             | 2063-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp                                       | U.S. Bancorp                                                       | CUSIP: 91159HJP6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1580000 | PA      | $1626486.35   | 0.29%             | 2027-10-26      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                      | PepsiCo, Inc.                                                      | CUSIP: 713448FF0<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $869372.76    | 0.15%             | 2041-10-21      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                        | Amgen, Inc.                                                        | CUSIP: 031162DQ0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    805000 | PA      | $829457.41    | 0.15%             | 2030-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140QEYX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4315280 | PA      | $3662234.38   | 0.65%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I LLC                 | CyrusOne Data Centers Issuer I LLC, Series 2025-1A, Class A2       | CUSIP: 23284BAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2250000 | PA      | $2293371.00   | 0.41%             | 2050-02-20      | Fixed         | 5.91%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                            | Hyundai Capital America                                            | CUSIP: 44891ADU8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   3990000 | PA      | $4013017.03   | 0.71%             | 2027-06-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                         | UMBS Pool, 30 Year                                                 | CUSIP: 3132DUBD8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4284375 | PA      | $4360134.57   | 0.78%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Duke Energy Ohio, Inc.                             | Duke Energy Ohio, Inc.                                             | CUSIP: 26442EAM2<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |   4250000 | PA      | $4315321.44   | 0.77%             | 2035-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank NA                             | Morgan Stanley Bank NA                                             | CUSIP: 61690U4T4<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1734870.66   | 0.31%             | 2026-04-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch Cos. LLC                            | Anheuser-Busch Cos. LLC                                            | CUSIP: 03522AAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    730000 | PA      | $712297.38    | 0.13%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                        | Cheniere Energy Partners LP                                        | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1218024.65   | 0.22%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140QMJZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5035407 | PA      | $4026916.83   | 0.72%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                     | Broadcom, Inc.                                                     | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    925000 | PA      | $780181.27    | 0.14%             | 2035-11-15      | Fixed         | 3.14%                 | Yes           |                  2 | On Loan: No      |
| Burlington Northern Santa Fe LLC                   | Burlington Northern Santa Fe LLC                                   | CUSIP: 12189LBK6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $354926.90    | 0.06%             | 2054-04-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Corp. Trust                 | GS Mortgage Securities Corp. Trust, Series 2024-MARK, Class A      | CUSIP: 36270HAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $2000586.20   | 0.36%             | 2034-06-15      | Floating      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                   | ABN AMRO Bank NV                                                   | CUSIP: 00084DBA7<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   1655000 | PA      | $1691041.27   | 0.30%             | 2027-09-18      | Variable      | 6.34%                 | Yes           |                  2 | On Loan: No      |
| Amazon.com, Inc.                                   | Amazon.com, Inc.                                                   | CUSIP: 023135CB0<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    950000 | PA      | $640430.14    | 0.11%             | 2051-05-12      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                    | Citigroup, Inc.                                                    | CUSIP: 17327CAR4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1640000 | PA      | $1716799.33   | 0.31%             | 2034-05-25      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                             | Home Depot, Inc. (The)                                             | CUSIP: 437076CC4<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1005941.82   | 0.18%             | 2040-04-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| N/A                                                | U.S. Treasury Ultra Bonds                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       139 | NC      | $864517.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya CLO Ltd.                                      | Voya CLO Ltd., Series 2022-4A, Class BR                            | CUSIP: 92920LAS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $2005472.00   | 0.36%             | 2037-04-20      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                       | UBS Group AG                                                       | CUSIP: 902613BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    800000 | PA      | $821599.64    | 0.15%             | 2030-02-08      | Variable      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 31371NLU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       219 | PA      | $232.13       | 0.00%             | 2037-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co.                          | Florida Power & Light Co.                                          | CUSIP: 341081GK7<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   2550000 | PA      | $2611649.44   | 0.46%             | 2028-04-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                         | AT&T, Inc.                                                         | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    555000 | PA      | $388334.21    | 0.07%             | 2057-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Pine Street Trust III                              | Pine Street Trust III                                              | CUSIP: 72284KAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    840000 | PA      | $829253.35    | 0.15%             | 2054-05-15      | Fixed         | 6.22%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC                         | AerCap Ireland Capital DAC                                         | CUSIP: 00774MBL8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1360000 | PA      | $1360301.51   | 0.24%             | 2029-09-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                         | AT&T, Inc.                                                         | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1695000 | PA      | $1458800.34   | 0.26%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                        | Amgen, Inc.                                                        | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    875000 | PA      | $896019.85    | 0.16%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                  | Wells Fargo & Co.                                                  | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1595000 | PA      | $1646389.99   | 0.29%             | 2036-04-23      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                     | Morgan Stanley                                                     | CUSIP: 61747YFK6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    645000 | PA      | $658512.01    | 0.12%             | 2030-01-16      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                    | Goldman Sachs Group, Inc. (The)                                    | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1095000 | PA      | $1122562.74   | 0.20%             | 2031-04-23      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| Dayton Power & Light Co. (The)                     | Dayton Power & Light Co. (The)                                     | CUSIP: 240019BV0<br>LEI: 1ELKY8G44MKGCQWG6864 | Long             | DBT              | CORP              | US        |    500000 | PA      | $369454.21    | 0.07%             | 2049-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5517, Class MT                                | CUSIP: 3137HKH80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2780854 | PA      | $2777507.55   | 0.49%             | 2055-03-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140QQTF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2492328 | PA      | $2552671.30   | 0.45%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                          | Ford Motor Credit Co. LLC                                          | CUSIP: 345397G49<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    495000 | PA      | $496452.75    | 0.09%             | 2029-11-07      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                | Kinder Morgan, Inc.                                                | CUSIP: 49456BAW1<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    390000 | PA      | $359219.67    | 0.06%             | 2052-08-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                         | UMBS Pool, 30 Year                                                 | CUSIP: 3133KKK24<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1901094 | PA      | $1606909.29   | 0.29%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Duke Energy Ohio, Inc.                             | Duke Energy Ohio, Inc.                                             | CUSIP: 26442EAK6<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108343.55    | 0.02%             | 2053-04-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140XDAB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2293558 | PA      | $1943655.77   | 0.35%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                              | FHLMC, REMIC, Series 5513, Class MQ                                | CUSIP: 3137HKF25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2835042 | PA      | $2889195.20   | 0.51%             | 2054-06-25      | Variable      | 8.23%                 | No            |                  2 | On Loan: No      |
| Entergy Louisiana LLC                              | Entergy Louisiana LLC                                              | CUSIP: 29364WBP2<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1508537.27   | 0.27%             | 2034-09-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Bonds                                                | CUSIP: 912810TH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $413574.22    | 0.07%             | 2042-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                     | BNP Paribas SA                                                     | CUSIP: 09659W3A0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1925000 | PA      | $2002585.07   | 0.36%             | 2033-01-13      | Variable      | 5.79%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                               | GNMA II, Single Family, 30 Year                                    | CUSIP: 36179XQR0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2240447 | PA      | $1904425.25   | 0.34%             | 2053-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                         | AT&T, Inc.                                                         | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    585000 | PA      | $395961.56    | 0.07%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Baltimore Gas and Electric Co.                     | Baltimore Gas and Electric Co.                                     | CUSIP: 059165EQ9<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |    505000 | PA      | $481590.61    | 0.09%             | 2053-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                              | Bank of America Corp.                                              | CUSIP: 06051GMD8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2005000 | PA      | $2005018.19   | 0.36%             | 2035-10-25      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                  | Lowe's Cos., Inc.                                                  | CUSIP: 548661DZ7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    890000 | PA      | $556034.00    | 0.10%             | 2050-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                         | Occidental Petroleum Corp.                                         | CUSIP: 674599EJ0<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1504824.00   | 0.27%             | 2029-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                    | Goldman Sachs Group, Inc. (The)                                    | CUSIP: 38141GC51<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    375000 | PA      | $374933.10    | 0.07%             | 2056-01-28      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                              | Bank of America Corp.                                              | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1213293.13   | 0.22%             | 2036-01-24      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                | Bank of New York Mellon Corp. (The)                                | CUSIP: 06406RBU0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    725000 | PA      | $798349.79    | 0.14%             | 2034-10-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140MRBF3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1608844 | PA      | $1549464.77   | 0.28%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RGA Global Funding                                 | RGA Global Funding                                                 | CUSIP: 76209PAC7<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |   3670000 | PA      | $3849509.43   | 0.68%             | 2028-11-21      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ONEOK, Inc.                                        | ONEOK, Inc.                                                        | CUSIP: 682680BD4<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1615000 | PA      | $1623238.78   | 0.29%             | 2026-01-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                             | Truist Financial Corp.                                             | CUSIP: 89788MAM4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    825000 | PA      | $825516.12    | 0.15%             | 2034-01-26      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140XADW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3779903 | PA      | $3043527.71   | 0.54%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                           | Cooperatieve Rabobank UA                                           | CUSIP: 74977RDR2<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   1495000 | PA      | $1503618.63   | 0.27%             | 2028-08-22      | Variable      | 4.66%                 | Yes           |                  2 | On Loan: No      |
| 200 Park Funding Trust                             | 200 Park Funding Trust                                             | CUSIP: 901928AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $641273.43    | 0.11%             | 2055-02-15      | Fixed         | 5.74%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140QNB68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1862933 | PA      | $1690095.81   | 0.30%             | 2052-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NiSource, Inc.                                     | NiSource, Inc.                                                     | CUSIP: 65473QBD4<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    590000 | PA      | $575381.31    | 0.10%             | 2045-02-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Ares Management Corp.                              | Ares Management Corp.                                              | CUSIP: 03990BAA9<br>LEI: 529900JUV61FH7B8VW38 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1854490.21   | 0.33%             | 2028-11-10      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                     | Broadcom, Inc.                                                     | CUSIP: 11135FBF7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    490000 | PA      | $419113.72    | 0.07%             | 2033-02-15      | Fixed         | 2.60%                 | Yes           |                  2 | On Loan: No      |
| Credit Agricole SA                                 | Credit Agricole SA                                                 | CUSIP: 22535WAN7<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    725000 | PA      | $751546.98    | 0.13%             | 2036-01-09      | Variable      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| OBX Trust                                          | OBX Trust, Series 2025-NQM9, Class A1                              | CUSIP: 673916AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2224045 | PA      | $2243692.95   | 0.40%             | 2065-01-25      | Variable      | 5.66%                 | Yes           |                  2 | On Loan: No      |
| BAE Systems plc                                    | BAE Systems plc                                                    | CUSIP: 05523RAJ6<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |   1380000 | PA      | $1414480.58   | 0.25%             | 2029-03-26      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                               | GNMA, Series 2023-156, Class HI                                    | CUSIP: 38381JWH6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  48159075 | PA      | $2431758.76   | 0.43%             | 2062-01-16      | Variable      | 0.69%                 | No            |                  2 | On Loan: No      |
| National Securities Clearing Corp.                 | National Securities Clearing Corp.                                 | CUSIP: 637639AK1<br>LEI: 549300RYC9NELN2ICA34 | Long             | DBT              | CORP              | US        |   1490000 | PA      | $1521594.69   | 0.27%             | 2028-05-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140XM4Z6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2708097 | PA      | $2677603.61   | 0.48%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                          | RTX Corp.                                                          | CUSIP: 75513ECX7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1342762.96   | 0.24%             | 2054-03-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| United States of America                           | U.S. Treasury Notes                                                | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9725000 | PA      | $9815412.16   | 1.75%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                              | Bank of America Corp.                                              | CUSIP: 06051GJZ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1490355.91   | 0.27%             | 2029-06-14      | Variable      | 2.09%                 | No            |                  2 | On Loan: No      |
| FNMA                                               | UMBS, 30 Year                                                      | CUSIP: 3140X8QX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3653304 | PA      | $2935012.56   | 0.52%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                       | Verizon Communications, Inc.                                       | CUSIP: 92343VEA8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    705000 | PA      | $685290.25    | 0.12%             | 2033-08-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                               | GNMA I, Single Family, 30 Year                                     | CUSIP: 36178STM0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     49194 | PA      | $46577.81     | 0.01%             | 2045-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** NEW YORK LIFE INVESTMENTS VP FUNDS TRUST

**Signature:** Jack Benintende

**Name of Signer:** Jack Benintende

**Title:** Treasurer