# EDGAR Filing Document

**Accession Number:** 0001484018
**File Stem:** 0002000324-26-000560
**Filing Date:** 2026-2
**Character Count:** 123312
**Document Hash:** 2e493f5c1ce5e114c638f46b4ab148e1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000560.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0002000324-26-000560

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Spinnaker ETF Series
- **CENTRAL INDEX KEY:** 0001484018

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22398
- **FILM NUMBER:** 26668169

**BUSINESS ADDRESS:**
- **STREET 1:** 116 SOUTH FRANKLIN STREET
- **STREET 2:** POST OFFICE BOX 69
- **CITY:** ROCKY MOUNT
- **STATE:** NC
- **ZIP:** 27802-0069
- **BUSINESS PHONE:** 252-972-9922

**MAIL ADDRESS:**
- **STREET 1:** 116 SOUTH FRANKLIN STREET
- **STREET 2:** POST OFFICE BOX 69
- **CITY:** ROCKY MOUNT
- **STATE:** NC
- **ZIP:** 27802-0069

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Spinnaker ETF Trust
- **DATE OF NAME CHANGE:** 20100212

## Series and Classes Contracts Data

### UVA Unconstrained Medium-Term Fixed Income ETF (Series ID: S000057345)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000183025 | UVA Unconstrained Medium-Term Fixed Income ETF | FFIU            |

## Nport-Ex

---

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| XTR_FUND | XTR_FNDDSC | XTR_TKR | XTR_DESC1 | XTR_DESC2 | OCC_ID | XTR_CUSIP | XTR_GROUP | XTR_GROUP1 | XTR_GROUP2 | XTR_CATGRY | XTR_CATDSC | XTR_SECTOR | XTR_SECTR1 | XTR_SECTR2 | XTR_CONTRY | XTR_CONDSC | XTR_STATE | XTR_STNAME | XTR_CURNCY | XTR_CURDSC | XTR_MATDAT | XTR_SUBUNT | XTR_SUBDSC | XTR_PRICE | SECTYPE | SECTYPE2 | RPT_ID | INCLUD_CAT | LEGAL1 | LEGAL2 | LEGAL3 | LEGAL4 | LEGAL5 | LEGAL6 | BAS_Q_DECS | BAS_M_DECS | LCL_P_DECS | LCL_Q_DECS | ISBASCURR | POS_INCOM | CLASS | QTYINDIC | FAS_LEVEL | PROCESS_DATE | SECTOR | FUNDCURR | BASECURR | POS_QTY | POS_ORGCST | POS_AMORT | POS_MKTVAL | RND_MKTVAL | POS_GL | RNDPOS_GL | POS_YIELD | YIELDTOCALL | POS_YTM | POS_YTM_NA | POS_PC_PRT | POS_PC_AST | POS_PC_NAS | POS_ORGFAC | FAS_TODAY_ONLY | LEI | PRICE_ID | PRICINGMETHOD |
| 426 | UVA Unconstrained Medium-Term Fixed | BBN | BlackRock Taxable Mu | nicipal Bond Trust |  | 09248X100 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | DE | DELAWARE | USD | US DOLLAR | 1/0/1900 |  |  | 16.32 |  |  |  |  | BlackRock Taxable Mu | nicipal Bond Trust |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 31429.37 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 26978.00 | 663557.74 | 663557.74 | 440280.96 | 440280.96 | -223276.78 | -223276.78 | 7.14 | False | 0.00 | N/A | 0.85 | 0.85 | 0.85 | 0.00 |  | 549300LRIF3NWCU26A80 | BBN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | GBAB | Guggenheim Taxable M | unicipal Bond & Inve |  | 401664107 | 1022 | Closed-end Funds |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 1/0/1900 |  |  | 14.92 |  |  |  |  | Guggenheim Taxable M | unicipal Bond & Inve |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 36710.95 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 24328.00 | 599408.08 | 599408.08 | 362973.76 | 362973.76 | -236434.32 | -236434.32 | 10.11 | False | 0.00 | N/A | 0.70 | 0.70 | 0.70 | 0.00 |  | 549300GOPVLTY8C8IN16 | GBAB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | EVV | EATON VANCE LTD | DURATION FND |  | 27828H105 | 1041 | Equity Fund |  | CLOSED-E | CLOSED-END FUND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/0/1900 |  |  | 9.91 |  |  |  |  | EATON VANCE LTD | DURATION FND |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24975.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 25000.00 | 241682.50 | 241682.50 | 247750.00 | 247750.00 | 6067.50 | 6067.50 | 10.08 | False | 0.00 | N/A | 0.48 | 0.48 | 0.48 | 0.00 |  |  | EVV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3132DWJM | FR SD8368 | 10/01/2053 6.000000% |  | 3132DWJM6 |  | UNGROUPED SECURITIES |  | CMO | COLL MORT OBLIGATION | COLL MORT OBLIGATION |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 10/1/2053 |  |  | 102.85 |  |  |  |  | FR SD8368 | 10/01/2053 6.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 31071.84 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 517864.08 | 507021.29 | 507316.29 | 532611.81 | 532611.81 | 25295.52 | 25295.52 | 5.83 | False | 5.79 |  | 1.03 | 1.02 | 1.03 | 750000.00 |  |  | 3132DWJM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 008252AR | AFFIL MANAGERS | 08/20/2034 5.500000% |  | 008252AR9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 8/20/2034 |  |  | 102.28 |  |  |  |  | AFFIL MANAGERS | 08/20/2034 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 27500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 509440.00 | 508435.42 | 511386.00 | 511386.00 | 2950.58 | 2950.58 | 5.38 | True | 5.16 |  | 0.99 | 0.98 | 0.98 | 0.00 |  | 2JE75BUE3T1BLCYYGK54 | 008252AR<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02079KAE | ALPHABET INC | 8/15/2040 1.9% |  | 02079KAE7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 8/15/2040 |  |  | 67.92 |  |  |  |  | ALPHABET INC | 8/15/2040 1.9% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 469199.59 | 474358.19 | 339620.50 | 339620.50 | -134737.69 | -134737.69 | 2.80 | False | 5.02 |  | 0.66 | 0.65 | 0.65 | 0.00 |  | 5493006MHB84DD0ZWV18 | 02079KAE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02079KAF | ALPHABET INC | 8/15/2050 2.05% |  | 02079KAF4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 8/15/2050 |  |  | 54.54 |  |  |  |  | ALPHABET INC | 8/15/2050 2.05% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15375.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 750000.00 | 637816.05 | 647803.98 | 409042.50 | 409042.50 | -238761.48 | -238761.48 | 3.76 | False | 5.41 |  | 0.79 | 0.79 | 0.79 | 0.00 |  | 5493006MHB84DD0ZWV18 | 02079KAF<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02209SAM | ALTRIA GROUP INC | 8/9/2042 4.25% |  | 02209SAM5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 8/9/2042 |  |  | 83.59 |  |  |  |  | ALTRIA GROUP INC | 8/9/2042 4.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 17000.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 400000.00 | 441406.96 | 435918.28 | 334369.20 | 334369.20 | -101549.08 | -101549.08 | 5.08 | False | 5.80 |  | 0.65 | 0.64 | 0.64 | 0.00 |  | XSGZFLO9YTNO9VCQV219 | 02209SAM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02209SAQ | ALTRIA GROUP INC | 5/2/2043 4.5% |  | 02209SAQ6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 5/2/2043 |  |  | 85.53 |  |  |  |  | ALTRIA GROUP INC | 5/2/2043 4.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11250.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 259450.06 | 258331.57 | 213823.75 | 213823.75 | -44507.82 | -44507.82 | 5.26 | False | 5.84 |  | 0.41 | 0.41 | 0.41 | 0.00 |  | XSGZFLO9YTNO9VCQV219 | 02209SAQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 02209SBE | ALTRIA GROUP INC | 2/14/2039 5.8% |  | 02209SBE2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | VA | VIRGINIA | USD | US DOLLAR | 2/14/2039 |  |  | 103.17 |  |  |  |  | ALTRIA GROUP INC | 2/14/2039 5.8% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 321561.32 | 309355.23 | 257918.00 | 257918.00 | -51437.23 | -51437.23 | 5.62 | True | 5.45 |  | 0.50 | 0.50 | 0.50 | 0.00 |  | XSGZFLO9YTNO9VCQV219 | 02209SBE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 023135BT | AMAZON.COM INC | 6/3/2050 2.5% |  | 023135BT2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | WA | WASHINGTON | USD | US DOLLAR | 6/3/2050 |  |  | 59.58 |  |  |  |  | AMAZON.COM INC | 6/3/2050 2.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 18750.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 750000.00 | 686330.01 | 691954.60 | 446856.00 | 446856.00 | -245098.60 | -245098.60 | 4.20 | False | 5.54 |  | 0.87 | 0.86 | 0.86 | 0.00 |  | ZXTILKJKG63JELOEG630 | 023135BT<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 031162BP | AMGEN INC | 5/15/2043 5.375% |  | 031162BP4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/15/2043 |  |  | 94.55 |  |  |  |  | AMGEN INC | 5/15/2043 5.375% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5375.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 100000.00 | 133015.88 | 128745.86 | 94546.40 | 94546.40 | -34199.46 | -34199.46 | 5.69 | False | 5.88 |  | 0.18 | 0.18 | 0.18 | 0.00 |  | 62QBXGPJ34PQ72Z12S66 | 031162BP<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 031162BZ | AMGEN INC | 5/1/2045 4.4% |  | 031162BZ2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/1/2045 |  |  | 85.81 |  |  |  |  | AMGEN INC | 5/1/2045 4.4% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13200.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 300000.00 | 367592.67 | 359721.71 | 257425.20 | 257425.20 | -102296.51 | -102296.51 | 5.13 | False | 5.61 |  | 0.50 | 0.50 | 0.50 | 0.00 |  | 62QBXGPJ34PQ72Z12S66 | 031162BZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833AL | APPLE INC | 5/4/2043 3.85% |  | 037833AL4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/4/2043 |  |  | 84.55 |  |  |  |  | APPLE INC | 5/4/2043 3.85% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 17325.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 450000.00 | 452887.47 | 452519.31 | 380489.40 | 380489.40 | -72029.91 | -72029.91 | 4.55 | False | 5.21 |  | 0.74 | 0.73 | 0.73 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833AL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833BA | APPLE INC | 2/9/2045 3.45% |  | 037833BA7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 2/9/2045 |  |  | 77.77 |  |  |  |  | APPLE INC | 2/9/2045 3.45% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 17250.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 497740.00 | 497998.14 | 388868.00 | 388868.00 | -109130.14 | -109130.14 | 4.44 | False | 5.32 |  | 0.75 | 0.75 | 0.75 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833BA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833CH | APPLE INC | 2/9/2047 4.25% |  | 037833CH1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 2/9/2047 |  |  | 85.90 |  |  |  |  | APPLE INC | 2/9/2047 4.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 17000.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 400000.00 | 493965.50 | 483977.64 | 343599.20 | 343599.20 | -140378.44 | -140378.44 | 4.95 | False | 5.37 |  | 0.67 | 0.66 | 0.66 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833CH<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833DB | APPLE INC | 9/12/2027 2.9% |  | 037833DB3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 9/12/2027 |  |  | 98.84 |  |  |  |  | APPLE INC | 9/12/2027 2.9% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 497022.50 | 498994.71 | 494191.50 | 494191.50 | -4803.21 | -4803.21 | 2.93 | False | 3.61 |  | 0.96 | 0.95 | 0.95 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833DB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833DD | APPLE INC | 9/12/2047 3.75% |  | 037833DD9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 9/12/2047 |  |  | 79.12 |  |  |  |  | APPLE INC | 9/12/2047 3.75% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13125.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 350000.00 | 345845.50 | 346218.37 | 276917.90 | 276917.90 | -69300.47 | -69300.47 | 4.74 | False | 5.39 |  | 0.54 | 0.53 | 0.53 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833DD<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833EE | APPLE INC | 2/8/2041 2.375% |  | 037833EE6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 2/8/2041 |  |  | 72.19 |  |  |  |  | APPLE INC | 2/8/2041 2.375% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11875.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 475166.11 | 479066.90 | 360961.00 | 360961.00 | -118105.90 | -118105.90 | 3.29 | False | 5.02 |  | 0.70 | 0.69 | 0.69 | 0.00 |  | HWUPKR0MPOU8FGXBT394 | 037833EE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 060505EU | BANK OF AMER CRP |  |  | 060505EU4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 3/10/2026 |  |  | 100.03 |  |  |  |  | BANK OF AMER CRP |  |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 31500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 533749.01 | 501748.93 | 500160.00 | 500160.00 | -1588.93 | -1588.93 | 6.30 | True | 6.01 |  | 0.97 | 0.96 | 0.96 | 0.00 |  | 9DJT3UXIJIZJI4WXO774 | 060505EU<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 064058AL | BANK OF NY MELLO | 3.75% 12/20/26 |  | 064058AL4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 12/20/2026 |  |  | 98.63 |  |  |  |  | BANK OF NY MELLO | 3.75% 12/20/26 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13125.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 350000.00 | 323130.50 | 343776.13 | 345187.50 | 345187.50 | 1411.37 | 1411.37 | 3.80 | False | 5.21 |  | 0.67 | 0.66 | 0.66 | 0.00 |  | WFLLPEPC7FZXENRZV188 | 064058AL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 084664CV | BERKSHIRE HATH | 10/15/2050 2.85% |  | 084664CV1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NE | NEBRASKA | USD | US DOLLAR | 10/15/2050 |  |  | 64.52 |  |  |  |  | BERKSHIRE HATH | 10/15/2050 2.85% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8550.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 300000.00 | 285003.25 | 286269.03 | 193551.90 | 193551.90 | -92717.13 | -92717.13 | 4.42 | False | 5.48 |  | 0.38 | 0.37 | 0.37 | 0.00 |  | 5493000C01ZX7D35SD85 | 084664CV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 084659AV | BERKSHIRE HATHAW | 7/15/2030 3.7% |  | 084659AV3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IA | IOWA | USD | US DOLLAR | 7/15/2030 |  |  | 98.24 |  |  |  |  | BERKSHIRE HATHAW | 7/15/2030 3.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9250.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 228162.50 | 236239.18 | 245603.00 | 245603.00 | 9363.82 | 9363.82 | 3.77 | False | 4.13 |  | 0.48 | 0.47 | 0.47 | 0.00 |  | 5493000C01ZX7D35SD85 | 084659AV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 110122CQ | BRISTOL-MYERS | 6/15/2039 4.125% |  | 110122CQ9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 6/15/2039 |  |  | 90.99 |  |  |  |  | BRISTOL-MYERS | 6/15/2039 4.125% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 20625.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 587580.77 | 572264.02 | 454956.50 | 454956.50 | -117307.52 | -117307.52 | 4.53 | False | 5.06 |  | 0.88 | 0.88 | 0.88 | 0.00 |  | HLYYNH7UQUORYSJQCN42 | 110122CQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 11135FAS | BROADCOM INC | 11/15/2032 4.3% |  | 11135FAS0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 11/15/2032 |  |  | 98.70 |  |  |  |  | BROADCOM INC | 11/15/2032 4.3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10750.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 235956.58 | 240013.35 | 246762.25 | 246762.25 | 6748.90 | 6748.90 | 4.36 | False | 4.52 |  | 0.48 | 0.47 | 0.48 | 0.00 |  | 549300WV6GIDOZJTV909 | 11135FAS<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 115637AP | BROWN-FORMAN | 7/15/2045 4.5% |  | 115637AP5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | KY | KENTUCKY | USD | US DOLLAR | 7/15/2045 |  |  | 87.09 |  |  |  |  | BROWN-FORMAN | 7/15/2045 4.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14850.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 330000.00 | 306863.65 | 308580.56 | 287390.07 | 287390.07 | -21190.49 | -21190.49 | 5.17 | False | 5.59 |  | 0.56 | 0.55 | 0.55 | 0.00 |  | 549300873K3LXF7ARU34 | 115637AP<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 12505BAE | CBRE SERVICES | 04/01/2031 2.500% |  | 12505BAE0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 4/1/2031 |  |  | 90.62 |  |  |  |  | CBRE SERVICES | 04/01/2031 2.500% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 100000.00 | 83679.00 | 89299.89 | 90617.60 | 90617.60 | 1317.71 | 1317.71 | 2.76 | False | 4.53 |  | 0.18 | 0.17 | 0.17 | 0.00 |  |  | 12505BAE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 172062AE | CINCINNATI FINL | 11/1/2034 6.125% |  | 172062AE1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 11/1/2034 |  |  | 106.77 |  |  |  |  | CINCINNATI FINL | 11/1/2034 6.125% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15312.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 343181.05 | 318990.79 | 266913.75 | 266913.75 | -52077.04 | -52077.04 | 5.74 | False | 5.16 |  | 0.52 | 0.51 | 0.51 | 0.00 |  | 254900Q4WEDMZBOZ0002 | 172062AE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 17328YZV | CITIGROUP GLOBAL | 3/17/2031 1% |  | 17328YZV9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 3/17/2031 |  |  | 89.32<br> M |  |  |  |  | CITIGROUP GLOBAL | 3/17/2031 1% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5118.45 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 247500.00 | 248472.17 | 223294.56 | 223294.56 | -25177.61 | -25177.61 | 2.29 | False | 4.35 |  | 0.43 | 0.43 | 0.43 | 0.00 |  | 6SHGI4ZSSLCXXQSBB395 | 17328YZV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 21036PBC | CONSTELLATION BRANDS | 4.65% 11/15/2028 |  | 21036PBC1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 11/15/2028 |  |  | 101.33 |  |  |  |  | CONSTELLATION BRANDS | 4.65% 11/15/2028 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9300.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 200000.00 | 200255.20 | 200119.45 | 202662.60 | 202662.60 | 2543.15 | 2543.15 | 4.59 | True | 4.11 |  | 0.39 | 0.39 | 0.39 | 0.00 |  |  | 21036PBC<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 278642AF | EBAY INC | 7/15/2042 4% |  | 278642AF0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 7/15/2042 |  |  | 82.91 |  |  |  |  | EBAY INC | 7/15/2042 4% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 42720.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 1068000.00 | 1133360.00 | 1124363.37 | 885484.14 | 885484.14 | -238879.23 | -238879.23 | 4.82 | False | 5.60 |  | 1.72 | 1.70 | 1.70 | 0.00 |  | OML71K8X303XQONU6T67 | 278642AF<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 278642AW | EBAY INC | 3/11/2030 2.7% |  | 278642AW3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 3/11/2030 |  |  | 93.92 |  |  |  |  | EBAY INC | 3/11/2030 2.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5130.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 190000.00 | 184841.75 | 187085.85 | 178455.60 | 178455.60 | -8630.25 | -8630.25 | 2.87 | False | 4.30 |  | 0.35 | 0.34 | 0.34 | 0.00 |  | OML71K8X303XQONU6T67 | 278642AW<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 285512AE | ELECTRONIC ARTS | 2/15/2031 1.85% |  | 285512AE9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 2/15/2031 |  |  | 96.12 |  |  |  |  | ELECTRONIC ARTS | 2/15/2031 1.85% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4625.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 215119.65 | 228264.71 | 240300.50 | 240300.50 | 12035.79 | 12035.79 | 1.92 | False | 2.67 |  | 0.47 | 0.46 | 0.46 | 0.00 |  | 549300O7A67PUEYKDL45 | 285512AE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 26875PAQ | EOG RESOURCES IN | 1/15/2036 5.1% |  | 26875PAQ4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 1/15/2036 |  |  | 101.23 |  |  |  |  | EOG RESOURCES IN | 1/15/2036 5.1% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 16830.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 330000.00 | 404593.55 | 387658.96 | 334046.79 | 334046.79 | -53612.17 | -53612.17 | 5.04 | True | 4.94 |  | 0.65 | 0.64 | 0.64 | 0.00 |  | XWTZDRYZPBUHIQBKDB46 | 26875PAQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31428XAT | FEDEX CORP | 8/1/2042 3.875% |  | 31428XAT3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TN | TENNESSEE | USD | US DOLLAR | 8/1/2042 |  |  | 79.30 |  |  |  |  | FEDEX CORP | 8/1/2042 3.875% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11625.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 300000.00 | 237876.00 | 243294.63 | 237897.30 | 237897.30 | -5397.33 | -5397.33 | 4.89 | False | 5.84 |  | 0.46 | 0.46 | 0.46 | 0.00 |  | 549300E707U7WNPZN687 | 31428XAT<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31428XAU | FEDEX CORP | 4/15/2043 4.1% |  | 31428XAU0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TN | TENNESSEE | USD | US DOLLAR | 4/15/2043 |  |  | 80.33 |  |  |  |  | FEDEX CORP | 4/15/2043 4.1% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 28864.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 704000.00 | 740978.70 | 736134.87 | 565516.86 | 565516.86 | -170618.01 | -170618.01 | 5.10 | False | 5.93 |  | 1.10 | 1.09 | 1.09 | 0.00 |  | 549300E707U7WNPZN687 | 31428XAU<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 345370BZ | FORD MOTOR CO | 2/1/2029 6.375% |  | 345370BZ2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 2/1/2029 |  |  | 103.65 |  |  |  |  | FORD MOTOR CO | 2/1/2029 6.375% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15937.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 293889.54 | 271364.11 | 259126.50 | 259126.50 | -12237.61 | -12237.61 | 6.15 | False | 5.08 |  | 0.50 | 0.50 | 0.50 | 0.00 |  | 20S05OYHG0MQM4VUIC57 | 345370BZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 36966TCG | GEN ELEC CAP CRP | 6/15/2032 5.1% |  | 36966TCG5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 6/15/2032 |  |  | 103.27 |  |  |  |  | GEN ELEC CAP CRP | 6/15/2032 5.1% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14688.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 288000.00 | 311302.77 | 303972.90 | 297418.75 | 297418.75 | -6554.15 | -6554.15 | 4.94 | False | 4.51 |  | 0.58 | 0.57 | 0.57 | 0.00 |  | 3C7474T6CDKPR9K6YT90 | 36966TCG<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 37045VAS | GENERAL MOTORS C | 10/1/2028 5% |  | 37045VAS9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 10/1/2028 |  |  | 101.90 |  |  |  |  | GENERAL MOTORS C | 10/1/2028 5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 277543.53 | 262490.66 | 254750.50 | 254750.50 | -7740.16 | -7740.16 | 4.91 | True | 4.19 |  | 0.49 | 0.49 | 0.49 | 0.00 |  | 54930070NSV60J38I987 | 37045VAS<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 38143CEJ | GOLDMAN SACHS GP | 10/15/2033 4.6% |  | 38143CEJ6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 10/15/2033 |  |  | 99.09 |  |  |  |  | GOLDMAN SACHS GP | 10/15/2033 4.6% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 290036.35 | 278706.79 | 247718.75 | 247718.75 | -30988.04 | -30988.04 | 4.64 | False | 4.74 |  | 0.48 | 0.48 | 0.48 | 0.00 |  | 784F5XWPLTWKTBV3E584 | 38143CEJ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 38151F5Z | GOLDMAN SACHS GP | 08/16/2034 5.000000% |  | 38151F5Z2 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 8/16/2034 |  |  | 98.87 |  |  |  |  | GOLDMAN SACHS GP | 08/16/2034 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 25000.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 506750.00 | 505912.32 | 494339.00 | 494339.00 | -11573.32 | -11573.32 | 5.06 | False | 5.16 |  | 0.96 | 0.95 | 0.95 | 0.00 |  |  | 38151F5Z<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 40057FQ7 | GS FINANCE CORP | FLOAT 03/10/31 |  | 40057FQ72 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 3/10/2031 |  |  | 89.32<br> M |  |  |  |  | GS FINANCE CORP | FLOAT 03/10/31 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5044.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 247500.00 | 248475.27 | 223294.56 | 223294.56 | -25180.71 | -25180.71 | 2.26 | False | 4.33 |  | 0.43 | 0.43 | 0.43 | 0.00 |  |  | 40057FQ7<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 459200KB | IBM CORP | 5/15/2039 4.15% |  | 459200KB6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 5/15/2039 |  |  | 89.34 |  |  |  |  | IBM CORP | 5/15/2039 4.15% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 33200.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 800000.00 | 852324.41 | 842487.09 | 714690.40 | 714690.40 | -127796.69 | -127796.69 | 4.65 | False | 5.27 |  | 1.39 | 1.37 | 1.38 | 0.00 |  | VGRQXHF3J8VDLUA7XE92 | 459200KB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 458140BJ | INTEL CORP | 11/15/2049 3.25% |  | 458140BJ8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 11/15/2049 |  |  | 63.99 |  |  |  |  | INTEL CORP | 11/15/2049 3.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9750.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 300000.00 | 305748.25 | 305232.87 | 191977.50 | 191977.50 | -113255.37 | -113255.37 | 5.08 | False | 6.14 |  | 0.37 | 0.37 | 0.37 | 0.00 |  | KNX4USFCNGPY45LOCE31 | 458140BJ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 494553AE | KINDER MORGAN | 02/01/2034 5.400000% |  | 494553AE0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 2/1/2034 |  |  | 103.09 |  |  |  |  | KINDER MORGAN | 02/01/2034 5.400000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 27000.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 515005.00 | 513222.65 | 515471.00 | 515471.00 | 2248.35 | 2248.35 | 5.24 | True | 4.92 |  | 1.00 | 0.99 | 0.99 | 0.00 |  | 549300WR7IX8XE0TBO16 | 494553AE<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 539830BQ | LOCKHEED MARTIN | 6/15/2050 2.8% |  | 539830BQ1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MD | MARYLAND | USD | US DOLLAR | 6/15/2050 |  |  | 63.34 |  |  |  |  | LOCKHEED MARTIN | 6/15/2050 2.8% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8400.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 300000.00 | 285171.37 | 286461.07 | 190019.40 | 190019.40 | -96441.67 | -96441.67 | 4.42 | False | 5.56 |  | 0.37 | 0.37 | 0.37 | 0.00 |  | DPRBOZP0K5RM2YE8UU08 | 539830BQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 58013MEN | MCDONALD'S CORP | 2/15/2042 3.7% |  | 58013MEN0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 2/15/2042 |  |  | 81.65 |  |  |  |  | MCDONALD'S CORP | 2/15/2042 3.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7400.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 200000.00 | 164068.00 | 167461.07 | 163299.20 | 163299.20 | -4161.87 | -4161.87 | 4.53 | False | 5.42 |  | 0.32 | 0.31 | 0.31 | 0.00 |  | UE2136O97NLB5BYP9H04 | 58013MEN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 58013MEZ | MCDONALD'S CORP | 12/9/2035 4.7% |  | 58013MEZ3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | IL | ILLINOIS | USD | US DOLLAR | 12/9/2035 |  |  | 99.34 |  |  |  |  | MCDONALD'S CORP | 12/9/2035 4.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 528825.00 | 522865.03 | 496724.50 | 496724.50 | -26140.53 | -26140.53 | 4.73 | False | 4.78 |  | 0.96 | 0.96 | 0.96 | 0.00 |  | UE2136O97NLB5BYP9H04 | 58013MEZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 59156RAV | METLIFE INC | 8/1/2039 10.75% |  | 59156RAV0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 8/1/2039 |  |  | 132.60 |  |  |  |  | METLIFE INC | 8/1/2039 10.75% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 43537.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 405000.00 | 619463.85 | 590119.66 | 537021.50 | 537021.50 | -53098.17 | -53098.17 | 8.11 | True | 5.86 |  | 1.04 | 1.03 | 1.03 | 0.00 |  | C4BXATY60WC6XEOZDX54 | 59156RAV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 59156RBT | METLIFE INC | 5.875% 03/15/28 |  | 59156RBT4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 3/15/2028 |  |  | 101.38 |  |  |  |  | METLIFE INC | 5.875% 03/15/28 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 14687.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 258404.07 | 253448.79 | 253437.50 | 253437.50 | -11.29 | -11.29 | 5.80 | True | 5.20 |  | 0.49 | 0.49 | 0.49 | 0.00 |  | C4BXATY60WC6XEOZDX54 | 59156RBT<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 594918AR | MICROSOFT CORP | 11/15/2042 3.5% |  | 594918AR5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | WA | WASHINGTON | USD | US DOLLAR | 11/15/2042 |  |  | 80.88 |  |  |  |  | MICROSOFT CORP | 11/15/2042 3.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15750.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 450000.00 | 469070.35 | 466515.94 | 363961.80 | 363961.80 | -102554.14 | -102554.14 | 4.33 | False | 5.22 |  | 0.71 | 0.70 | 0.70 | 0.00 |  | INR2EJN1ERAN0W5ZP974 | 594918AR<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 61762VAA | MORGAN STANLEY | 5.875% 09/15/26 |  | 61762VAA9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 9/15/2026 |  |  | 99.38 |  |  |  |  | MORGAN STANLEY | 5.875% 09/15/26 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 16450.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 280000.00 | 289762.45 | 281699.29 | 278250.00 | 278250.00 | -3449.29 | -3449.29 | 5.91 | False | 6.78 |  | 0.54 | 0.54 | 0.54 | 0.00 |  | IGJSJL3JD5P30I6NJZ34 | 61762VAA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 654106AD | NIKE INC | 5/1/2043 3.625% |  | 654106AD5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OR | OREGON | USD | US DOLLAR | 5/1/2043 |  |  | 80.40 |  |  |  |  | NIKE INC | 5/1/2043 3.625% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12433.75 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 343000.00 | 371318.30 | 367598.12 | 275771.66 | 275771.66 | -91826.46 | -91826.46 | 4.51 | False | 5.38 |  | 0.54 | 0.53 | 0.53 | 0.00 |  | 787RXPR0UX0O0XUXPZ81 | 654106AD<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 654106AL | NIKE INC | 3/27/2040 3.25% |  | 654106AL7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OR | OREGON | USD | US DOLLAR | 3/27/2040 |  |  | 81.04 |  |  |  |  | NIKE INC | 3/27/2040 3.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8125.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 272245.24 | 268507.45 | 202592.50 | 202592.50 | -65914.95 | -65914.95 | 4.01 | False | 5.14 |  | 0.39 | 0.39 | 0.39 | 0.00 |  | 787RXPR0UX0O0XUXPZ81 | 654106AL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 68389XBF | ORACLE CORP | 5/15/2045 4.125% |  | 68389XBF1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 5/15/2045 |  |  | 71.77 |  |  |  |  | ORACLE CORP | 5/15/2045 4.125% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 26812.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 650000.00 | 687076.87 | 682847.89 | 466487.45 | 466487.45 | -216360.44 | -216360.44 | 5.75 | False | 6.76 |  | 0.91 | 0.90 | 0.90 | 0.00 |  | 1Z4GXXU7ZHVWFCD8TV52 | 68389XBF<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 68389XBP | ORACLE CORP | 11/15/2037 3.8% |  | 68389XBP9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 11/15/2037 |  |  | 80.60 |  |  |  |  | ORACLE CORP | 11/15/2037 3.8% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15200.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 400000.00 | 430748.51 | 424801.67 | 322380.40 | 322380.40 | -102421.27 | -102421.27 | 4.71 | False | 6.12 |  | 0.63 | 0.62 | 0.62 | 0.00 |  | 1Z4GXXU7ZHVWFCD8TV52 | 68389XBP<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 718546AK | PHILLIPS 66 | 11/15/2034 4.650000% |  | 718546AK0 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 11/15/2034 |  |  | 98.04 |  |  |  |  | PHILLIPS 66 | 11/15/2034 4.650000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23250.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 468840.00 | 470453.27 | 490178.00 | 490178.00 | 19724.73 | 19724.73 | 4.74 | False | 4.93 |  | 0.95 | 0.94 | 0.94 | 0.00 |  | 5493005JBO5YSIGK1814 | 718546AK<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 718547AY | PHILLIPS 66 CO | 03/15/2035 4.950000% |  | 718547AY8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 3/15/2035 |  |  | 99.48 |  |  |  |  | PHILLIPS 66 CO | 03/15/2035 4.950000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24750.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 502935.50 | 502659.22 | 497415.00 | 497415.00 | -5244.22 | -5244.22 | 4.98 | False | 5.02 |  | 0.97 | 0.96 | 0.96 | 0.00 |  | RVJMT2IZVVSKIRJJBH76 | 718547AY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 743315AQ | PROGRESSIVE CORP | 1/26/2045 3.7% |  | 743315AQ6 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | OH | OHIO | USD | US DOLLAR | 1/26/2045 |  |  | 78.65 |  |  |  |  | PROGRESSIVE CORP | 1/26/2045 3.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15355.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 415000.00 | 452422.18 | 448055.86 | 326388.37 | 326388.37 | -121667.49 | -121667.49 | 4.70 | False | 5.53 |  | 0.63 | 0.63 | 0.63 | 0.00 |  | 529900TACNVLY9DCR586 | 743315AQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 747525AU | QUALCOMM INC | 5/20/2027 3.25% |  | 747525AU7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/20/2027 |  |  | 99.43 |  |  |  |  | QUALCOMM INC | 5/20/2027 3.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 200000.00 | 219006.97 | 205353.73 | 198868.60 | 198868.60 | -6485.13 | -6485.13 | 3.27 | False | 3.67 |  | 0.39 | 0.38 | 0.38 | 0.00 |  | H1J8DDZKZP6H7RWC0H53 | 747525AU<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 74834LBA | QUEST DIAGNOSTIC | 6/30/2029 4.2% |  | 74834LBA7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NJ | NEW JERSEY | USD | US DOLLAR | 6/30/2029 |  |  | 100.21 |  |  |  |  | QUEST DIAGNOSTIC | 6/30/2029 4.2% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 253166.95 | 251667.89 | 250515.25 | 250515.25 | -1152.64 | -1152.64 | 4.19 | True | 4.13 |  | 0.49 | 0.48 | 0.48 | 0.00 |  | 8MCWUBXQ0WE04KMXBX50 | 74834LBA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 731572AB | RALPH LAUREN | 6/15/2030 2.95% |  | 731572AB9 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 6/15/2030 |  |  | 95.04 |  |  |  |  | RALPH LAUREN | 6/15/2030 2.95% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10325.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 350000.00 | 338795.67 | 343356.54 | 332630.20 | 332630.20 | -10726.34 | -10726.34 | 3.10 | False | 4.18 |  | 0.65 | 0.64 | 0.64 | 0.00 |  | HO1QNWM0IXBZ0QSMMO20 | 731572AB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 75513ECA | RAYTHEON TECH | 10/15/2040 4.875% |  | 75513ECA7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MA | MASSACHUSETTS | USD | US DOLLAR | 10/15/2040 |  |  | 96.68 |  |  |  |  | RAYTHEON TECH | 10/15/2040 4.875% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 19500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 400000.00 | 461400.89 | 452305.53 | 386716.80 | 386716.80 | -65588.73 | -65588.73 | 5.04 | False | 5.20 |  | 0.75 | 0.74 | 0.74 | 0.00 |  | I07WOS4YJ0N7YRFE7309 | 75513ECA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 797440CB | SAN DIEGO G & E | 3/15/2032 3% |  | 797440CB8 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 3/15/2032 |  |  | 91.40 |  |  |  |  | SAN DIEGO G & E | 3/15/2032 3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 210895.00 | 222268.87 | 228492.00 | 228492.00 | 6223.13 | 6223.13 | 3.28 | False | 4.61 |  | 0.44 | 0.44 | 0.44 | 0.00 |  | PBBKGKLRK5S5C0Y4T545 | 797440CB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 844741BF | SOUTHWEST AIR | 2/10/2030 2.625% |  | 844741BF4 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | TX | TEXAS | USD | US DOLLAR | 2/10/2030 |  |  | 92.96 |  |  |  |  | SOUTHWEST AIR | 2/10/2030 2.625% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2625.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 100000.00 | 101424.00 | 100787.31 | 92964.90 | 92964.90 | -7822.41 | -7822.41 | 2.82 | False | 4.52 |  | 0.18 | 0.18 | 0.18 | 0.00 |  | UDTZ87G0STFETI6HGH41 | 844741BF<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 855244AK | STARBUCKS CORP | 6/15/2026 2.45% |  | 855244AK5 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | WA | WASHINGTON | USD | US DOLLAR | 6/15/2026 |  |  | 99.29 |  |  |  |  | STARBUCKS CORP | 6/15/2026 2.45% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6125.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 238319.26 | 248618.68 | 248217.25 | 248217.25 | -401.43 | -401.43 | 2.47 | False | 4.04 |  | 0.48 | 0.48 | 0.48 | 0.00 |  | OQSJ1DU9TAOC51A47K68 | 855244AK<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 863667AN | STRYKER CORP | 3/15/2026 3.5% |  | 863667AN1 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 3/15/2026 |  |  | 99.87 |  |  |  |  | STRYKER CORP | 3/15/2026 3.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7385.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 211000.00 | 211644.61 | 211028.75 | 210733.72 | 210733.72 | -295.03 | -295.03 | 3.50 | False | 4.08 |  | 0.41 | 0.41 | 0.41 | 0.00 |  | 5493002F0SC4JTBU5137 | 863667AN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 254687FM | WALT DISNEY CO | 9/1/2049 2.75% |  | 254687FM3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 9/1/2049 |  |  | 63.48 |  |  |  |  | WALT DISNEY CO | 9/1/2049 2.75% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6875.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 245982.50 | 246357.72 | 158708.50 | 158708.50 | -87649.22 | -87649.22 | 4.33 | False | 5.54 |  | 0.31 | 0.31 | 0.31 | 0.00 |  | 549300GZKULIZ0WOW665 | 254687FM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 254687FY | WALT DISNEY CO | 5/13/2040 3.5% |  | 254687FY7 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/13/2040 |  |  | 83.79 |  |  |  |  | WALT DISNEY CO | 5/13/2040 3.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 300000.00 | 313944.16 | 311712.50 | 251370.00 | 251370.00 | -60342.50 | -60342.50 | 4.18 | False | 5.11 |  | 0.49 | 0.48 | 0.48 | 0.00 |  | 549300GZKULIZ0WOW665 | 254687FY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 25468PDN | WALT DISNEY CO | 7/30/2046 3% |  | 25468PDN3 |  | UNGROUPED SECURITIES |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 7/30/2046 |  |  | 69.05 |  |  |  |  | WALT DISNEY CO | 7/30/2046 3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7500.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 244707.50 | 245275.79 | 172626.25 | 172626.25 | -72649.54 | -72649.54 | 4.34 | False | 5.54 |  | 0.33 | 0.33 | 0.33 | 0.00 |  | 549300GZKULIZ0WOW665 | 25468PDN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 89837LAD | PRINCETON UNIVERSITY | 7/1/2026 2.612% |  | 89837LAD7 | 1025 | Commercial Services |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 7/1/2026 |  |  | 99.45 |  |  |  |  | PRINCETON UNIVERSITY | 7/1/2026 2.612% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6530.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 247300.00 | 249657.53 | 248636.75 | 248636.75 | -1020.78 | -1020.78 | 2.63 | False | 3.72 |  | 0.48 | 0.48 | 0.48 | 0.00 |  |  | 89837LAD<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 037833BX | APPLE INC | 4.65% 02/23/2046 |  | 037833BX7 | 1036 | Electronics |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/23/2046 |  |  | 91.99 |  |  |  |  | APPLE INC | 4.65% 02/23/2046 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4650.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 100000.00 | 138079.67 | 133606.39 | 91987.00 | 91987.00 | -41619.39 | -41619.39 | 5.06 | False | 5.30 |  | 0.18 | 0.18 | 0.18 | 0.00 |  |  | 037833BX<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 458140BV | INTEL CORP | 08/12/2041 2.8% |  | 458140BV1 | 1097 | Semiconductor Device |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 8/12/2041 |  |  | 69.93 |  |  |  |  | INTEL CORP | 08/12/2041 2.8% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8400.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 300000.00 | 234301.00 | 242517.39 | 209791.20 | 209791.20 | -32726.19 | -32726.19 | 4.00 | False | 5.74 |  | 0.41 | 0.40 | 0.40 | 0.00 |  |  | 458140BV<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 11134LAR | BROADCOM CRP / CAYMN | 01/15/2028 3.50% |  | 11134LAR0 | D50D | Software |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/15/2028 |  |  | 99.16 |  |  |  |  | BROADCOM CRP / CAYMN | 01/15/2028 3.50% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 7000.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 200000.00 | 188071.00 | 195235.58 | 198323.20 | 198323.20 | 3087.62 | 3087.62 | 3.53 | False | 3.93 |  | 0.38 | 0.38 | 0.38 | 0.00 |  |  | 11134LAR<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 594918CC | MICROSOFT CORP | 06/01/2050 2.525 |  | 594918CC6 | D50D | Software |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2050 |  |  | 61.41 |  |  |  |  | MICROSOFT CORP | 06/01/2050 2.525 |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 12625.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 467395.00 | 470309.70 | 307046.50 | 307046.50 | -163263.20 | -163263.20 | 4.11 | False | 5.38 |  | 0.60 | 0.59 | 0.59 | 0.00 |  |  | 594918CC<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 031162CR | AMGEN INC | 02/21/2040 3.15% |  | 031162CR9 | G40G | Pharmaceuticals |  | CORPBOND | CORPORATE BOND |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/21/2040 |  |  | 78.98 |  |  |  |  | AMGEN INC | 02/21/2040 3.15% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9450.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 300000.00 | 316802.21 | 313988.89 | 236937.60 | 236937.60 | -77051.29 | -77051.29 | 3.99 | False | 5.28 |  | 0.46 | 0.46 | 0.46 | 0.00 |  |  | 031162CR<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3142GSD9 | FR RJ1927 | 07/01/2054 5.000000% |  | 3142GSD96 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 7/1/2054 |  |  | 99.88 |  |  |  |  | FR RJ1927 | 07/01/2054 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 44112.19 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 882243.78 | 884173.69 | 884173.79 | 881188.26 | 881188.26 | -2985.53 | -2985.53 | 5.01 | False | 5.01 |  | 1.71 | 1.69 | 1.70 | 1000000.00 |  |  | 3142GSD9<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3142J6AP | FR RQ0013 | 06/01/2055 5.500000% |  | 3142J6AP8 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2055 |  |  | 101.47 |  |  |  |  | FR RQ0013 | 06/01/2055 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 25556.68 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 464666.85 | 462924.35 | 462924.35 | 471509.02 | 471509.02 | 8584.67 | 8584.67 | 5.42 | False | 5.40 |  | 0.91 | 0.91 | 0.91 | 500000.00 |  |  | 3142J6AP<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3142J6B9 | FR RQ0063 | 11/01/2055 5.000000% |  | 3142J6B93 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 11/1/2055 |  |  | 99.85 |  |  |  |  | FR RQ0063 | 11/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24818.23 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 496364.62 | 497295.30 | 497294.54 | 495624.19 | 495624.19 | -1670.35 | -1670.35 | 5.01 | False | 5.01 |  | 0.96 | 0.95 | 0.95 | 500000.00 |  |  | 3142J6B9<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3142J6CM | FR RQ0075 | 12/01/2055 5.000000% |  | 3142J6CM3 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 12/1/2055 |  |  | 99.85 |  |  |  |  | FR RQ0075 | 12/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 49857.16 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 997143.20 | 998233.83 | 998234.06 | 995655.56 | 995655.56 | -2578.50 | -2578.50 | 5.01 | False | 5.01 |  | 1.93 | 1.91 | 1.92 | 1000000.00 |  |  | 3142J6CM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3132DWGY | FR SD8315 | 04/01/2053 5.000000% |  | 3132DWGY3 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/1/2053 |  |  | 100.31 |  |  |  |  | FR SD8315 | 04/01/2053 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 30571.06 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 611421.28 | 596131.16 | 596131.16 | 613345.66 | 613345.66 | 17214.50 | 17214.50 | 4.98 | False | 4.98 |  | 1.19 | 1.18 | 1.18 | 750000.00 |  |  | 3132DWGY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3132DWPG | FR SD8523 | 04/01/2055 5.000000% |  | 3132DWPG2 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/1/2055 |  |  | 99.85 |  |  |  |  | FR SD8523 | 04/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23638.85 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 472777.09 | 470856.42 | 470856.42 | 472071.09 | 472071.09 | 1214.67 | 1214.67 | 5.01 | False | 5.01 |  | 0.92 | 0.91 | 0.91 | 500000.00 |  |  | 3132DWPG<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31427MHZ | FR SL0247 | 01/01/2055 5.000000% |  | 31427MHZ7 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/1/2055 |  |  | 99.96 |  |  |  |  | FR SL0247 | 01/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 22095.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 441899.91 | 435271.41 | 435271.41 | 441704.46 | 441704.46 | 6433.05 | 6433.05 | 5.00 | False | 5.00 |  | 0.86 | 0.85 | 0.85 | 500000.00 |  |  | 31427MHZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31427NSH | FR SL1419 | 05/01/2055 5.500000% |  | 31427NSH3 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 5/1/2055 |  |  | 101.48 |  |  |  |  | FR SL1419 | 05/01/2055 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24560.54 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 446555.35 | 445997.15 | 445997.15 | 453155.39 | 453155.39 | 7158.24 | 7158.24 | 5.42 | False | 5.40 |  | 0.88 | 0.87 | 0.87 | 500000.00 |  |  | 31427NSH<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31427NXW | FR SL1592 | 06/01/2055 5.500000% |  | 31427NXW4 |  | UNGROUPED SECURITIES |  | FHLB | FED HOME LOAN BANK |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2055 |  |  | 101.54 |  |  |  |  | FR SL1592 | 06/01/2055 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 40670.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 739463.67 | 740850.17 | 740843.40 | 750886.39 | 750886.39 | 10042.99 | 10042.99 | 5.42 | False | 5.40 |  | 1.46 | 1.44 | 1.45 | 800000.00 |  |  | 31427NXW<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3132DP7M | FR SD2700 | 04/01/2053 5.000000% |  | 3132DP7M4 |  | UNGROUPED SECURITIES |  | FHLMC | FREDDIE MAC |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/1/2053 |  |  | 100.65 |  |  |  |  | FR SD2700 | 04/01/2053 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 76659.12 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 1533182.36 | 1506207.93 | 1507070.91 | 1543193.43 | 1543193.43 | 36122.52 | 36122.52 | 4.97 | False | 4.96 |  | 2.99 | 2.97 | 2.97 | 2000000.00 |  |  | 3132DP7M<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140YXSM | FN DA9523 | 03/01/2054 5.500000% |  | 3140YXSM4 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES | NC | NORTH CAROLINA | USD | US DOLLAR | 3/1/2054 |  |  | 101.01 |  |  |  |  | FN DA9523 | 03/01/2054 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 40834.08 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 742437.76 | 750094.53 | 749944.19 | 749944.19 | 749944.19 | 0.00 | 0.00 | 5.44 | False | 5.43 |  | 1.46 | 1.44 | 1.44 | 1000000.00 |  |  | 3140YXSM<br> N | AC |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140AR4J | FN DC4424 | 10/01/2054 5.000000% |  | 3140AR4J6 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES | MO | MISSOURI | USD | US DOLLAR | 10/1/2054 |  |  | 99.96 |  |  |  |  | FN DC4424 | 10/01/2054 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 45489.87 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 909797.45 | 896008.19 | 896008.19 | 909395.05 | 909395.05 | 13386.86 | 13386.86 | 5.00 | False | 5.00 |  | 1.76 | 1.75 | 1.75 | 1000000.00 |  |  | 3140AR4J<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140B04M | FN DD0827 | 01/01/2055 6.000000% |  | 3140B04M7 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES | MI | MICHIGAN | USD | US DOLLAR | 1/1/2055 |  |  | 103.81 |  |  |  |  | FN DD0827 | 01/01/2055 6.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24365.63 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 406093.89 | 411677.68 | 411627.24 | 421564.81 | 421564.81 | 9937.57 | 9937.57 | 5.78 | False | 5.73 |  | 0.82 | 0.81 | 0.81 | 500000.00 |  |  | 3140B04M<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140W02Z | FN FA0791 | 02/01/2054 4.500000% |  | 3140W02Z7 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/1/2054 |  |  | 98.27 |  |  |  |  | FN FA0791 | 02/01/2054 4.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 20825.93 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 462798.37 | 443997.18 | 444234.11 | 454785.20 | 454785.20 | 10551.09 | 10551.09 | 4.58 | False | 4.61 |  | 0.88 | 0.87 | 0.88 | 500000.00 |  |  | 3140W02Z<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140XRPL | FN FS9426 | 10/01/2054 5.000000% |  | 3140XRPL3 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 10/1/2054 |  |  | 99.96 |  |  |  |  | FN FS9426 | 10/01/2054 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 37584.57 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 751691.33 | 738536.73 | 738536.73 | 751359.98 | 751359.98 | 12823.25 | 12823.25 | 5.00 | False | 5.00 |  | 1.46 | 1.45 | 1.45 | 800000.00 |  |  | 3140XRPL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 3140XRS6 | FN FS9540 | 11/01/2054 5.000000% |  | 3140XRS63 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 11/1/2054 |  |  | 100.03 |  |  |  |  | FN FS9540 | 11/01/2054 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23598.15 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 471962.91 | 472847.84 | 472847.06 | 472084.53 | 472084.53 | -762.53 | -762.53 | 5.00 | False | 5.00 |  | 0.92 | 0.91 | 0.91 | 500000.00 |  |  | 3140XRS6<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418ES4 | FN MA5038 | 06/01/2053 5.000000% |  | 31418ES43 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2053 |  |  | 100.31 |  |  |  |  | FN MA5038 | 06/01/2053 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 40883.22 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 817664.46 | 802333.25 | 802702.65 | 820236.26 | 820236.26 | 17533.61 | 17533.61 | 4.98 | False | 4.98 |  | 1.59 | 1.58 | 1.58 | 1000000.00 |  |  | 31418ES4<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418ET6 | FN MA5072 | 07/01/2053 5.500000% |  | 31418ET67 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 7/1/2053 |  |  | 101.69 |  |  |  |  | FN MA5072 | 07/01/2053 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 21301.98 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 387308.71 | 375205.52 | 375573.74 | 393851.05 | 393851.05 | 18277.31 | 18277.31 | 5.41 | False | 5.38 |  | 0.76 | 0.76 | 0.76 | 500000.00 |  |  | 31418ET6<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418EV8 | FN MA5138 | 09/01/2053 5.500000% |  | 31418EV80 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 9/1/2053 |  |  | 101.69 |  |  |  |  | FN MA5138 | 09/01/2053 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 32018.65 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 582157.21 | 555960.14 | 556720.31 | 591979.36 | 591979.36 | 35259.05 | 35259.05 | 5.41 | False | 5.38 |  | 1.15 | 1.14 | 1.14 | 750000.00 |  |  | 31418EV8<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418EW3 | FN MA5165 | 10/01/2053 5.500000% |  | 31418EW30 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 10/1/2053 |  |  | 101.72 |  |  |  |  | FN MA5165 | 10/01/2053 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 59755.30 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 1086459.99 | 1035613.67 | 1037071.20 | 1105118.09 | 1105118.09 | 68046.89 | 68046.89 | 5.41 | False | 5.38 |  | 2.14 | 2.13 | 2.13 | 1400000.00 |  |  | 31418EW3<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418FF3 | FN MA5585 | 01/01/2055 5.000000% |  | 31418FF36 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 1/1/2055 |  |  | 99.85 |  |  |  |  | FN MA5585 | 01/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23421.03 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 468420.68 | 456344.23 | 456344.23 | 467715.94 | 467715.94 | 11371.71 | 11371.71 | 5.01 | False | 5.01 |  | 0.91 | 0.90 | 0.90 | 500000.00 |  |  | 31418FF3<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418FJS | FN MA5672 | 04/01/2055 5.000000% |  | 31418FJS7 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 4/1/2055 |  |  | 99.85 |  |  |  |  | FN MA5672 | 04/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23991.30 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 479826.06 | 477202.00 | 477202.00 | 479109.48 | 479109.48 | 1907.48 | 1907.48 | 5.01 | False | 5.01 |  | 0.93 | 0.92 | 0.92 | 500000.00 |  |  | 31418FJS<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418FLQ | FN MA5734 | 06/01/2055 5.000000% |  | 31418FLQ8 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 6/1/2055 |  |  | 99.85 |  |  |  |  | FN MA5734 | 06/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 23981.05 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 479620.99 | 464033.30 | 464033.30 | 478904.67 | 478904.67 | 14871.37 | 14871.37 | 5.01 | False | 5.01 |  | 0.93 | 0.92 | 0.92 | 500000.00 |  |  | 31418FLQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418FMH | FN MA5759 | 07/01/2055 5.000000% |  | 31418FMH7 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 7/1/2055 |  |  | 99.85 |  |  |  |  | FN MA5759 | 07/01/2055 5.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 24193.79 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 483875.82 | 474198.30 | 474198.30 | 483153.30 | 483153.30 | 8955.00 | 8955.00 | 5.01 | False | 5.01 |  | 0.94 | 0.93 | 0.93 | 500000.00 |  |  | 31418FMH<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 31418FPG | FN MA5822 | 09/01/2055 5.500000% |  | 31418FPG6 |  | UNGROUPED SECURITIES |  | FNMASECY | FANNIE MAE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 9/1/2055 |  |  | 101.49 |  |  |  |  | FN MA5822 | 09/01/2055 5.500000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 53171.86 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 966761.05 | 972803.30 | 972776.11 | 981119.87 | 981119.87 | 8343.76 | 8343.76 | 5.42 | False | 5.40 |  | 1.90 | 1.89 | 1.89 | 1000000.00 |  |  | 31418FPG<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | MISXX | Morgan Stanley Insti | tutional Liquidity F |  | 61747C582 | 1078 | Money Market Fund |  | MONEYMKT | MONEY MARKET |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 1/1/2026 |  |  | 100.00 |  |  |  |  | Morgan Stanley Insti | tutional Liquidity F |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 56687.02 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 1559008.75 | 1559008.75 | 1559008.75 | 1559008.75 | 1559008.75 | 0.00 | 0.00 | 3.64 | False | 3.63 |  | 3.03 | 3.00 | 3.00 | 0.00 |  |  | MISXX<br> N | AC |
| 426 | UVA Unconstrained Medium-Term Fixed | 01179RM6 | ALASKA ST MUNI BOND | B 12/1/2036 2.602% |  | 01179RM67 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | AK | ALASKA | USD | US DOLLAR | 12/1/2036 |  |  | 82.15 |  |  |  |  | ALASKA ST MUNI BOND | B 12/1/2036 2.602% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9107.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 350000.00 | 344606.50 | 345762.26 | 287533.54 | 287533.54 | -58228.72 | -58228.72 | 3.17 | False | 4.71 |  | 0.56 | 0.55 | 0.55 | 0.00 |  |  | 01179RM6<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 01179RM7 | ALASKA ST MUNI BOND | B 12/1/2041 3.028% |  | 01179RM75 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | AK | ALASKA | USD | US DOLLAR | 12/1/2041 |  |  | 79.39 |  |  |  |  | ALASKA ST MUNI BOND | B 12/1/2041 3.028% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10598.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 350000.00 | 361236.80 | 359578.09 | 277852.89 | 277852.89 | -81725.20 | -81725.20 | 3.81 | False | 4.91 |  | 0.54 | 0.53 | 0.53 | 0.00 |  |  | 01179RM7<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 040484UU | ARIZONA BRD OF RGTS | U 6/1/2044 3.9% |  | 040484UU9 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | AZ | ARIZONA | USD | US DOLLAR | 6/1/2044 |  |  | 83.08 |  |  |  |  | ARIZONA BRD OF RGTS | U 6/1/2044 3.9% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13650.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 350000.00 | 418086.60 | 409436.79 | 290788.86 | 290788.86 | -118647.94 | -118647.94 | 4.69 | False | 5.36 |  | 0.56 | 0.56 | 0.56 | 0.00 |  |  | 040484UU<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 072024YB | BAY AREA CA TOLL AUT | H 4/1/2036 2.913% |  | 072024YB2 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 4/1/2036 |  |  | 84.18 |  |  |  |  | BAY AREA CA TOLL AUT | H 4/1/2036 2.913% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10195.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 350000.00 | 354595.06 | 353550.92 | 294628.92 | 294628.92 | -58922.01 | -58922.01 | 3.46 | False | 4.89 |  | 0.57 | 0.57 | 0.57 | 0.00 |  | 5493001FUZGUQMIP5D78 | 072024YB<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 110290NJ | BRISTOL TWP PA SCH D | I 6/1/2043 3.65% |  | 110290NJ8 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 6/1/2043 |  |  | 75.45 |  |  |  |  | BRISTOL TWP PA SCH D | I 6/1/2043 3.65% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9307.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 255000.00 | 261481.01 | 260665.68 | 192401.22 | 192401.22 | -68264.46 | -68264.46 | 4.84 | False | 5.93 |  | 0.37 | 0.37 | 0.37 | 0.00 |  |  | 110290NJ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 13077DMZ | CA ST UNIV-D | 11/1/2038 2.67% |  | 13077DMZ2 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 11/1/2038 |  |  | 82.18 |  |  |  |  | CA ST UNIV-D | 11/1/2038 2.67% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8010.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 300000.00 | 290778.00 | 292452.61 | 246536.40 | 246536.40 | -45916.21 | -45916.21 | 3.25 | False | 4.51 |  | 0.48 | 0.47 | 0.47 | 0.00 |  |  | 13077DMZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 38122NZX | GOLDEN ST TOBACCO SE | C 6/1/2038 3.115% |  | 38122NZX3 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 6/1/2038 |  |  | 82.75 |  |  |  |  | GOLDEN ST TOBACCO SE | C 6/1/2038 3.115% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 2647.75 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 85000.00 | 87792.15 | 87264.55 | 70338.26 | 70338.26 | -16926.29 | -16926.29 | 3.76 | False | 5.00 |  | 0.14 | 0.14 | 0.14 | 0.00 |  |  | 38122NZX<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 561850MA | MANATEE CNTY FL PORT | 10/1/2041 3.187% |  | 561850MA3 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 10/1/2041 |  |  | 78.01 |  |  |  |  | MANATEE CNTY FL PORT | 10/1/2041 3.187% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6374.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 200000.00 | 209605.73 | 208176.91 | 156015.78 | 156015.78 | -52161.13 | -52161.13 | 4.09 | False | 5.26 |  | 0.30 | 0.30 | 0.30 | 0.00 |  |  | 561850MA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 573394EN | MARTINEZ - REF - TXBL | 8/1/2040 2.7% |  | 573394EN9 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 8/1/2040 |  |  | 77.13 |  |  |  |  | MARTINEZ - REF - TXBL | 8/1/2040 2.7% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 8910.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 330000.00 | 331071.30 | 330898.50 | 254512.96 | 254512.96 | -76385.54 | -76385.54 | 3.50 | False | 4.92 |  | 0.49 | 0.49 | 0.49 | 0.00 |  |  | 573394EN | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 59335KDA | MIAMI-DADE - A-3-TXBL | 10/1/2038 2.762% |  | 59335KDA2 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 10/1/2038 |  |  | 78.23 |  |  |  |  | MIAMI-DADE - A-3-TXBL | 10/1/2038 2.762% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 6905.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 247407.50 | 247882.40 | 195587.10 | 195587.10 | -52295.30 | -52295.30 | 3.53 | False | 5.10 |  | 0.38 | 0.38 | 0.38 | 0.00 |  | 549300QG0NBD9HULR263 | 59335KDA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 6460667F | NEW JERSEY ST EDUCTN | L 7/1/2035 3.468% |  | 6460667F1 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | NJ | NEW JERSEY | USD | US DOLLAR | 7/1/2035 |  |  | 89.54 |  |  |  |  | NEW JERSEY ST EDUCTN | L 7/1/2035 3.468% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13872.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 400000.00 | 430085.08 | 422814.63 | 358169.56 | 358169.56 | -64645.07 | -64645.07 | 3.87 | False | 4.86 |  | 0.69 | 0.69 | 0.69 | 0.00 |  | 549300UTOO4X537XXG70 | 6460667F<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 64966MWM | NEW YORK-E-2-TXBL | 3/1/2026 3.45% |  | 64966MWM7 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | NY | NEW YORK | USD | US DOLLAR | 3/1/2026 |  |  | 99.98 |  |  |  |  | NEW YORK-E-2-TXBL | 3/1/2026 3.45% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5865.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 170000.00 | 170755.50 | 170029.24 | 169958.76 | 169958.76 | -70.48 | -70.48 | 3.45 | False | 3.56 |  | 0.33 | 0.33 | 0.33 | 0.00 |  | 549300ABYZD2SFD5JB29 | 64966MWM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 70917S3J | PENNSYLVANIA ST HGR | E 6/15/2045 4.3% |  | 70917S3J0 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 6/15/2045 |  |  | 83.03 |  |  |  |  | PENNSYLVANIA ST HGR | E 6/15/2045 4.3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 10750.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 266118.67 | 264424.90 | 207562.93 | 207562.93 | -56861.98 | -56861.98 | 5.18 | False | 5.76 |  | 0.40 | 0.40 | 0.40 | 0.00 |  |  | 70917S3J<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 709235T7 | PENNSYLVANIA ST UNIV | 9/1/2043 2.79% |  | 709235T70 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 9/1/2043 |  |  | 77.77 |  |  |  |  | PENNSYLVANIA ST UNIV | 9/1/2043 2.79% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 5580.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 200000.00 | 209153.71 | 207911.04 | 155540.92 | 155540.92 | -52370.12 | -52370.12 | 3.59 | False | 4.65 |  | 0.30 | 0.30 | 0.30 | 0.00 |  | 549300QDK4O4XCJ47X56 | 709235T7<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 798755GM | SAN MARCOS USD - TXBL | 8/1/2040 3.377% |  | 798755GM0 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 8/1/2040 |  |  | 85.06 |  |  |  |  | SAN MARCOS USD - TXBL | 8/1/2040 3.377% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 11819.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 350000.00 | 356096.56 | 355149.34 | 297713.36 | 297713.36 | -57435.98 | -57435.98 | 3.97 | False | 4.81 |  | 0.58 | 0.57 | 0.57 | 0.00 |  |  | 798755GM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 875301HY | TAMPA-HILLSBOROUGH | 7/1/2037 2.692% |  | 875301HY2 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | FL | FLORIDA | USD | US DOLLAR | 7/1/2037 |  |  | 81.13 |  |  |  |  | TAMPA-HILLSBOROUGH | 7/1/2037 2.692% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 13594.60 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 505000.00 | 518669.73 | 515837.04 | 409706.80 | 409706.80 | -106130.24 | -106130.24 | 3.32 | False | 4.85 |  | 0.79 | 0.79 | 0.79 | 0.00 |  |  | 875301HY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 899141BL | TULARE CO BRD ED-TXB | L 5/1/2043 3.64% |  | 899141BL8 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/1/2043 |  |  | 73.94 |  |  |  |  | TULARE CO BRD ED-TXB | L 5/1/2043 3.64% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 9100.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 249183.17 | 249276.86 | 184854.08 | 184854.08 | -64422.79 | -64422.79 | 4.92 | False | 6.10 |  | 0.36 | 0.36 | 0.36 | 0.00 |  |  | 899141BL<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 913366JA | UNIV CA RGTS-M-TXBL | 5/15/2026 2.459% |  | 913366JA9 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/15/2026 |  |  | 99.55 |  |  |  |  | UNIV CA RGTS-M-TXBL | 5/15/2026 2.459% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 1721.30 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 70000.00 | 67870.95 | 69790.51 | 69682.20 | 69682.20 | -108.31 | -108.31 | 2.47 | False | 3.68 |  | 0.14 | 0.13 | 0.13 | 0.00 |  | RRR42I7GG51DB5HDQR14 | 913366JA<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 91412G2Y | UNIV OF CALIFORNIA-N | 5/15/2027 3.039% |  | 91412G2Y0 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | CA | CALIFORNIA | USD | US DOLLAR | 5/15/2027 |  |  | 99.13 |  |  |  |  | UNIV OF CALIFORNIA-N | 5/15/2027 3.039% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 759.75 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 25000.00 | 24494.92 | 24852.58 | 24781.40 | 24781.40 | -71.18 | -71.18 | 3.07 | False | 3.70 |  | 0.05 | 0.05 | 0.05 | 0.00 |  |  | 91412G2Y<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 914805EX | UNIV OF PITTSBURGH P | A 9/15/2026 3.127% |  | 914805EX0 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | PA | PENNSYLVANIA | USD | US DOLLAR | 9/15/2026 |  |  | 99.69 |  |  |  |  | UNIV OF PITTSBURGH P | A 9/15/2026 3.127% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4377.80 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 140000.00 | 141231.44 | 140206.11 | 139571.29 | 139571.29 | -634.82 | -634.82 | 3.14 | False | 3.57 |  | 0.27 | 0.27 | 0.27 | 0.00 |  | 5493002C83QSGL8ETT42 | 914805EX<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 917567FQ | UTAH ST TRANSIT AUTH | 12/15/2038 2.774% |  | 917567FQ7 |  | UNGROUPED SECURITIES |  | MUNIBOND | MUNICIPAL BOND |  |  |  | USA | UNITED STATES | UT | UTAH | USD | US DOLLAR | 12/15/2038 |  |  | 81.58 |  |  |  |  | UTAH ST TRANSIT AUTH | 12/15/2038 2.774% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 15257.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 550000.00 | 563106.02 | 560690.26 | 448690.00 | 448690.00 | -112000.26 | -112000.26 | 3.40 | False | 4.69 |  | 0.87 | 0.86 | 0.86 | 0.00 |  |  | 917567FQ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810QZ | US TREASURY N/B | 2/15/2043 3.125% |  | 912810QZ4 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2043 |  |  | 81.20 |  |  |  |  | US TREASURY N/B | 2/15/2043 3.125% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 28125.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 900000.00 | 737688.94 | 754529.44 | 730828.08 | 730828.08 | -23701.36 | -23701.36 | 3.85 | False | 4.74 |  | 1.42 | 1.41 | 1.41 | 0.00 |  | 254900HROIFWPRGM1V77 | 912810QZ<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810TD | US TREASURY N/B | 2/15/2052 2.25% |  | 912810TD0 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2052 |  |  | 60.96 |  |  |  |  | US TREASURY N/B | 2/15/2052 2.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 33750.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 1500000.00 | 1430071.98 | 1436152.89 | 914472.60 | 914472.60 | -521680.29 | -521680.29 | 3.69 | False | 4.92 |  | 1.77 | 1.76 | 1.76 | 0.00 |  | 254900HROIFWPRGM1V77 | 912810TD<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810TH | US TREASURY N/B | 5/15/2042 3.25% |  | 912810TH1 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 5/15/2042 |  |  | 83.72 |  |  |  |  | US TREASURY N/B | 5/15/2042 3.25% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 16250.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 500000.00 | 494273.44 | 494273.44 | 418593.75 | 418593.75 | -75679.69 | -75679.69 | 3.88 | False | 4.68 |  | 0.81 | 0.81 | 0.81 | 0.00 |  | 254900HROIFWPRGM1V77 | 912810TH<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810TM | US TREASURY N/B | 11/15/2042 4.000000% |  | 912810TM0 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 11/15/2042 |  |  | 92.00 |  |  |  |  | US TREASURY N/B | 11/15/2042 4.000000% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 40000.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 1000000.00 | 970578.13 | 970578.13 | 920039.10 | 920039.10 | -50539.03 | -50539.03 | 4.35 | False | 4.69 |  | 1.79 | 1.77 | 1.77 | 0.00 |  | 254900HROIFWPRGM1V77 | 912810TM<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 91282CDY | US TREASURY N/B | 2/15/2032 1.875% |  | 91282CDY4 |  | UNGROUPED SECURITIES |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2032 |  |  | 89.31 |  |  |  |  | US TREASURY N/B | 2/15/2032 1.875% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 4687.50 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 250000.00 | 227652.80 | 235259.48 | 223281.25 | 223281.25 | -11978.23 | -11978.23 | 2.10 | False | 3.85 |  | 0.43 | 0.43 | 0.43 | 0.00 |  | 254900HROIFWPRGM1V77 | 91282CDY<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810RK | US TREASURY N/B | 2/15/2045 2.5% |  | 912810RK6 | K60K | Government/Agency |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2045 |  |  | 71.10 |  |  |  |  | US TREASURY N/B | 2/15/2045 2.5% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 18750.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 750000.00 | 577168.97 | 590520.67 | 533232.45 | 533232.45 | -57288.22 | -57288.22 | 3.52 | False | 4.83 |  | 1.03 | 1.03 | 1.03 | 0.00 |  |  | 912810RK<br> N | MP |
| 426 | UVA Unconstrained Medium-Term Fixed | 912810SA | US TREASURY N/B | 2/15/2048 3% |  | 912810SA7 | K60K | Government/Agency |  | TREASNOT | TREASURY NOTE |  |  |  | USA | UNITED STATES |  |  | USD | US DOLLAR | 2/15/2048 |  |  | 74.72 |  |  |  |  | US TREASURY N/B | 2/15/2048 3% |  |  |  |  | 5 | 2 | 6 | 5<br> N | True | 30000.00 | L<br> N |  |  | 12/31/2025<br> C |  | 426;USD | USD | 1000000.00 | 823703.13 | 830086.22 | 747226.60 | 747226.60 | -82859.62 | -82859.62 | 4.01 | False | 4.88 |  | 1.45 | 1.44 | 1.44 | 0.00 |  |  | 912810SA<br> N | MP |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SPINNAKER ETF SERIES

- **b. Investment Company Act file number:** 811-22398

- **c. CIK number of Registrant:** 0001484018

- **d. LEI of Registrant:** 54930056GHDI2JOI6X90

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

  - **Street Address 1:** 116 SOUTH FRANKLIN STREET

  - **City:** ROCKY MOUNT

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 27804-5707

  - **Telephone number:** 252-972-9922

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

- **a. Name of Series:** UVA Unconstrained Medium-Term Fixed Income ETF

- **b. EDGAR series identifier (if any):** S000057345

- **c. LEI of Series:** 549300XJDE5AD9OP5X97

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $51994302.59

**Total Liabilities:** $49311.93

**Net Assets:** $51944990.66

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -106.49 | **1-Year:** 52.65 | **5-Year:** 868.25 | **10-Year:** 3703.13 | **30-Year:** 50051.6

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 14.65 | **10-Year:** 30.37 | **30-Year:** 182.05

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000183025 | 0.61%                | 0.55%                | -0.35%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4193.00                | $181003.08                                 |
| Month 2  | $-19983.64               | $153297.99                                 |
| Month 3  | $3105.74                 | $-374151.62                                |

**Designated Index Information**

- **Index Name:** 0

- **Index Identifier:** 0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BlackRock Taxable Mu | CLOSED-E | CUSIP: 09248X100<br>LEI: SNYX4R2CEK5Q5D25DZ39 | Long             | EC               | CORP              | US        |     26978 | NS      | $440280.96    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON VANCE LTD      | CLOSED-E | CUSIP: 27828H105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25000 | NS      | $247750.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Taxable M | CLOSED-E | CUSIP: 401664107<br>LEI: O7RPTBV08XOX3ZU53L78 | Long             | EC               | CORP              | US        |     24328 | NS      | $362973.76    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| FR SD8368            | CMO      | CUSIP: 3132DWJM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    517864 | NS      | $532611.81    | 1.03%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AFFIL MANAGERS       | CORPBOND | CUSIP: 008252AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $511386.00    | 0.98%             | 2034-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC         | CORPBOND | CUSIP: 02079KAE7<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    500000 | NS      | $339620.50    | 0.65%             | 2040-08-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC         | CORPBOND | CUSIP: 02079KAF4<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    750000 | NS      | $409042.50    | 0.79%             | 2050-08-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC     | CORPBOND | CUSIP: 02209SAM5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    400000 | NS      | $334369.20    | 0.64%             | 2042-08-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC     | CORPBOND | CUSIP: 02209SAQ6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    250000 | NS      | $213823.75    | 0.41%             | 2043-05-02      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC     | CORPBOND | CUSIP: 02209SBE2<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    250000 | NS      | $257918.00    | 0.50%             | 2039-02-14      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC       | CORPBOND | CUSIP: 023135BT2<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    750000 | NS      | $446856.00    | 0.86%             | 2050-06-03      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMGEN INC            | CORPBOND | CUSIP: 031162BP4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    100000 | NS      | $94546.40     | 0.18%             | 2043-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AMGEN INC            | CORPBOND | CUSIP: 031162BZ2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    300000 | NS      | $257425.20    | 0.50%             | 2045-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| AMGEN INC            | CORPBOND | CUSIP: 031162CR9<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    300000 | NS      | $236937.60    | 0.46%             | 2040-02-21      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833AL4<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    450000 | NS      | $380489.40    | 0.73%             | 2043-05-04      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833BA7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    500000 | NS      | $388868.00    | 0.75%             | 2045-02-09      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833BX7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    100000 | NS      | $91987.00     | 0.18%             | 2046-02-23      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833CH1<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    400000 | NS      | $343599.20    | 0.66%             | 2047-02-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833DB3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    500000 | NS      | $494191.50    | 0.95%             | 2027-09-12      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833DD9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    350000 | NS      | $276917.90    | 0.53%             | 2047-09-12      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| APPLE INC            | CORPBOND | CUSIP: 037833EE6<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    500000 | NS      | $360961.00    | 0.69%             | 2041-02-08      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMER CRP     | CORPBOND | CUSIP: 060505EU4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | NS      | $500160.00    | 0.96%             | 2026-03-10      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLO     | CORPBOND | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    350000 | NS      | $345187.50    | 0.66%             | 2026-12-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAW     | CORPBOND | CUSIP: 084659AV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | NS      | $245603.00    | 0.47%             | 2030-07-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATH       | CORPBOND | CUSIP: 084664CV1<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    300000 | NS      | $193551.90    | 0.37%             | 2050-10-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS        | CORPBOND | CUSIP: 110122CQ9<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    500000 | NS      | $454956.50    | 0.88%             | 2039-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BROADCOM CRP / CAYMN | CORPBOND | CUSIP: 11134LAR0<br>LEI: KFFV4ZWM9DJH1ND3BD89 | Long             | DBT              | CORP              | US        |    200000 | NS      | $198323.20    | 0.38%             | 2028-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC         | CORPBOND | CUSIP: 11135FAS0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    250000 | NS      | $246762.25    | 0.48%             | 2032-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| BROWN-FORMAN         | CORPBOND | CUSIP: 115637AP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | NS      | $287390.07    | 0.55%             | 2045-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES        | CORPBOND | CUSIP: 12505BAE0<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    100000 | NS      | $90617.60     | 0.17%             | 2031-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CINCINNATI FINL      | CORPBOND | CUSIP: 172062AE1<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | DBT              | CORP              | US        |    250000 | NS      | $266913.75    | 0.51%             | 2034-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL     | CORPBOND | CUSIP: 17328YZV9<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |    250000 | NS      | $223294.56    | 0.43%             | 2031-03-17      | Variable      | 2.05%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS | CORPBOND | CUSIP: 21036PBC1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    200000 | NS      | $202662.60    | 0.39%             | 2028-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY CO       | CORPBOND | CUSIP: 254687FM3<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    250000 | NS      | $158708.50    | 0.31%             | 2049-09-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY CO       | CORPBOND | CUSIP: 254687FY7<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    300000 | NS      | $251370.00    | 0.48%             | 2040-05-13      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY CO       | CORPBOND | CUSIP: 25468PDN3<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |    250000 | NS      | $172626.25    | 0.33%             | 2046-07-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES IN     | CORPBOND | CUSIP: 26875PAQ4<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    330000 | NS      | $334046.79    | 0.64%             | 2036-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| EBAY INC             | CORPBOND | CUSIP: 278642AF0<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |   1068000 | NS      | $885484.14    | 1.70%             | 2042-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EBAY INC             | CORPBOND | CUSIP: 278642AW3<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |    190000 | NS      | $178455.60    | 0.34%             | 2030-03-11      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| ELECTRONIC ARTS      | CORPBOND | CUSIP: 285512AE9<br>LEI: 549300O7A67PUEYKDL45 | Long             | DBT              | CORP              | US        |    250000 | NS      | $240300.50    | 0.46%             | 2031-02-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP           | CORPBOND | CUSIP: 31428XAT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | NS      | $237897.30    | 0.46%             | 2042-08-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP           | CORPBOND | CUSIP: 31428XAU0<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    704000 | NS      | $565516.86    | 1.09%             | 2043-04-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CO        | CORPBOND | CUSIP: 345370BZ2<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    250000 | NS      | $259126.50    | 0.50%             | 2029-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GEN ELEC CAP CRP     | CORPBOND | CUSIP: 36966TCG5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    288000 | NS      | $297418.75    | 0.57%             | 2032-06-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS C     | CORPBOND | CUSIP: 37045VAS9<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    250000 | NS      | $254750.50    | 0.49%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GP     | CORPBOND | CUSIP: 38143CEJ6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    250000 | NS      | $247718.75    | 0.48%             | 2033-10-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GP     | CORPBOND | CUSIP: 38151F5Z2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $494339.00    | 0.95%             | 2034-08-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GS FINANCE CORP      | CORPBOND | CUSIP: 40057FQ72<br>LEI: 549300FR80KBVO6DRL61 | Long             | DBT              | CORP              | US        |    250000 | NS      | $223294.56    | 0.43%             | 2031-03-10      | Variable      | 2.02%                 | No            |                  2 | On Loan: No      |
| INTEL CORP           | CORPBOND | CUSIP: 458140BJ8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    300000 | NS      | $191977.50    | 0.37%             | 2049-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INTEL CORP           | CORPBOND | CUSIP: 458140BV1<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    300000 | NS      | $209791.20    | 0.40%             | 2041-08-12      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| IBM CORP             | CORPBOND | CUSIP: 459200KB6<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    800000 | NS      | $714690.40    | 1.38%             | 2039-05-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN        | CORPBOND | CUSIP: 494553AE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $515471.00    | 0.99%             | 2034-02-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN      | CORPBOND | CUSIP: 539830BQ1<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    300000 | NS      | $190019.40    | 0.37%             | 2050-06-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP      | CORPBOND | CUSIP: 58013MEN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | NS      | $163299.20    | 0.31%             | 2042-02-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP      | CORPBOND | CUSIP: 58013MEZ3<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    500000 | NS      | $496724.50    | 0.96%             | 2035-12-09      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| METLIFE INC          | CORPBOND | CUSIP: 59156RAV0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    405000 | NS      | $537021.50    | 1.03%             | 2039-08-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| METLIFE INC          | CORPBOND | CUSIP: 59156RBT4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    250000 | NS      | $253437.50    | 0.49%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP       | CORPBOND | CUSIP: 594918AR5<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    450000 | NS      | $363961.80    | 0.70%             | 2042-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP       | CORPBOND | CUSIP: 594918CC6<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    500000 | NS      | $307046.50    | 0.59%             | 2050-06-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY       | CORPBOND | CUSIP: 61762VAA9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    280000 | NS      | $278250.00    | 0.54%             | 2026-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NIKE INC             | CORPBOND | CUSIP: 654106AD5<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | DBT              | CORP              | US        |    343000 | NS      | $275771.66    | 0.53%             | 2043-05-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| NIKE INC             | CORPBOND | CUSIP: 654106AL7<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | DBT              | CORP              | US        |    250000 | NS      | $202592.50    | 0.39%             | 2040-03-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP          | CORPBOND | CUSIP: 68389XBF1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    650000 | NS      | $466487.45    | 0.90%             | 2045-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP          | CORPBOND | CUSIP: 68389XBP9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    400000 | NS      | $322380.40    | 0.62%             | 2037-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66          | CORPBOND | CUSIP: 718546AK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $490178.00    | 0.94%             | 2034-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO       | CORPBOND | CUSIP: 718547AY8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | NS      | $497415.00    | 0.96%             | 2035-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| RALPH LAUREN         | CORPBOND | CUSIP: 731572AB9<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | DBT              | CORP              | US        |    350000 | NS      | $332630.20    | 0.64%             | 2030-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP     | CORPBOND | CUSIP: 743315AQ6<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |    415000 | NS      | $326388.37    | 0.63%             | 2045-01-26      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INC         | CORPBOND | CUSIP: 747525AU7<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    200000 | NS      | $198868.60    | 0.38%             | 2027-05-20      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| QUEST DIAGNOSTIC     | CORPBOND | CUSIP: 74834LBA7<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |    250000 | NS      | $250515.25    | 0.48%             | 2029-06-30      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| RAYTHEON TECH        | CORPBOND | CUSIP: 75513ECA7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    400000 | NS      | $386716.80    | 0.74%             | 2040-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO G & E      | CORPBOND | CUSIP: 797440CB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | NS      | $228492.00    | 0.44%             | 2032-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIR        | CORPBOND | CUSIP: 844741BF4<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    100000 | NS      | $92964.90     | 0.18%             | 2030-02-10      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP       | CORPBOND | CUSIP: 855244AK5<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    250000 | NS      | $248217.25    | 0.48%             | 2026-06-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP         | CORPBOND | CUSIP: 863667AN1<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    211000 | NS      | $210733.72    | 0.41%             | 2026-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PRINCETON UNIVERSITY | CORPBOND | CUSIP: 89837LAD7<br>LEI: 549300PJZYINN64GDJ90 | Long             | DBT              | CORP              | US        |    250000 | NS      | $248636.75    | 0.48%             | 2026-07-01      | Fixed         | 2.61%                 | No            |                  2 | On Loan: No      |
| FR SD8315            | FHLB     | CUSIP: 3132DWGY3<br>LEI: N/A                  | Long             | DBT              |  | US        |    611421 | NS      | $613345.66    | 1.18%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FR SD8523            | FHLB     | CUSIP: 3132DWPG2<br>LEI: N/A                  | Long             | DBT              |  | US        |    472777 | NS      | $472071.09    | 0.91%             | 2055-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FR SL0247            | FHLB     | CUSIP: 31427MHZ7<br>LEI: N/A                  | Long             | DBT              |  | US        |    441900 | NS      | $441704.46    | 0.85%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FR SL1419            | FHLB     | CUSIP: 31427NSH3<br>LEI: N/A                  | Long             | DBT              |  | US        |    446555 | NS      | $453155.39    | 0.87%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FR SL1592            | FHLB     | CUSIP: 31427NXW4<br>LEI: N/A                  | Long             | DBT              |  | US        |    739464 | NS      | $750886.39    | 1.45%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FR RJ1927            | FHLB     | CUSIP: 3142GSD96<br>LEI: N/A                  | Long             | DBT              |  | US        |    882244 | NS      | $881188.26    | 1.70%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FR RQ0013            | FHLB     | CUSIP: 3142J6AP8<br>LEI: N/A                  | Long             | DBT              |  | US        |    464667 | NS      | $471509.02    | 0.91%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FR RQ0063            | FHLB     | CUSIP: 3142J6B93<br>LEI: N/A                  | Long             | DBT              |  | US        |    496365 | NS      | $495624.19    | 0.95%             | 2055-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FR RQ0075            | FHLB     | CUSIP: 3142J6CM3<br>LEI: N/A                  | Long             | DBT              |  | US        |    997143 | NS      | $995655.56    | 1.92%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FR SD2700            | FHLMC    | CUSIP: 3132DP7M4<br>LEI: N/A                  | Long             | DBT              |  | US        |   1533182 | NS      | $1543193.43   | 2.97%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN DC4424            | FNMASECY | CUSIP: 3140AR4J6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    909798 | NS      | $909395.05    | 1.75%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN DD0827            | FNMASECY | CUSIP: 3140B04M7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    406094 | NS      | $421564.81    | 0.81%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FN FA0791            | FNMASECY | CUSIP: 3140W02Z7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    462798 | NS      | $454785.20    | 0.88%             | 2054-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FN FS9426            | FNMASECY | CUSIP: 3140XRPL3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    751691 | NS      | $751359.98    | 1.45%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN FS9540            | FNMASECY | CUSIP: 3140XRS63<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    471963 | NS      | $472084.53    | 0.91%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN DA9523            | FNMASECY | CUSIP: 3140YXSM4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    742438 | NS      | $749944.19    | 1.44%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FN MA5038            | FNMASECY | CUSIP: 31418ES43<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    817664 | NS      | $820236.26    | 1.58%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN MA5072            | FNMASECY | CUSIP: 31418ET67<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    387309 | NS      | $393851.05    | 0.76%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FN MA5138            | FNMASECY | CUSIP: 31418EV80<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    582157 | NS      | $591979.36    | 1.14%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FN MA5165            | FNMASECY | CUSIP: 31418EW30<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1086460 | NS      | $1105118.09   | 2.13%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FN MA5585            | FNMASECY | CUSIP: 31418FF36<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    468421 | NS      | $467715.94    | 0.90%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN MA5672            | FNMASECY | CUSIP: 31418FJS7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    479826 | NS      | $479109.48    | 0.92%             | 2055-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN MA5734            | FNMASECY | CUSIP: 31418FLQ8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    479621 | NS      | $478904.67    | 0.92%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN MA5759            | FNMASECY | CUSIP: 31418FMH7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    483876 | NS      | $483153.30    | 0.93%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FN MA5822            | FNMASECY | CUSIP: 31418FPG6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    966761 | NS      | $981119.87    | 1.89%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Insti | MONEYMKT | CUSIP: 61747C582<br>LEI: 549300D1XR6GP7EZ0T47 | Long             | STIV             |  | US        |   1559009 | NS      | $1559008.75   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ALASKA ST MUNI BOND  | MUNIBOND | CUSIP: 01179RM67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | NS      | $287533.54    | 0.55%             | 2036-12-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| ALASKA ST MUNI BOND  | MUNIBOND | CUSIP: 01179RM75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | NS      | $277852.89    | 0.53%             | 2041-12-01      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| ARIZONA BRD OF RGTS  | MUNIBOND | CUSIP: 040484UU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | NS      | $290788.86    | 0.56%             | 2044-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BAY AREA CA TOLL AUT | MUNIBOND | CUSIP: 072024YB2<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |    350000 | NS      | $294628.92    | 0.57%             | 2036-04-01      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| BRISTOL TWP PA SCH D | MUNIBOND | CUSIP: 110290NJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | NS      | $192401.22    | 0.37%             | 2043-06-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CA ST UNIV-D         | MUNIBOND | CUSIP: 13077DMZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | NS      | $246536.40    | 0.47%             | 2038-11-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SE | MUNIBOND | CUSIP: 38122NZX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | NS      | $70338.26     | 0.14%             | 2038-06-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| MANATEE CNTY FL PORT | MUNIBOND | CUSIP: 561850MA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | NS      | $156015.78    | 0.30%             | 2041-10-01      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| MARTINEZ -REF -TXBL  | MUNIBOND | CUSIP: 573394EN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | NS      | $254512.96    | 0.49%             | 2040-08-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE -A-3-TXBL | MUNIBOND | CUSIP: 59335KDA2<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |    250000 | NS      | $195587.10    | 0.38%             | 2038-10-01      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDUCTN | MUNIBOND | CUSIP: 6460667F1<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    400000 | NS      | $358169.56    | 0.69%             | 2035-07-01      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| NEW YORK-E-2-TXBL    | MUNIBOND | CUSIP: 64966MWM7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    170000 | NS      | $169958.76    | 0.33%             | 2026-03-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR  | MUNIBOND | CUSIP: 70917S3J0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | NS      | $207562.93    | 0.40%             | 2045-06-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST UNIV | MUNIBOND | CUSIP: 709235T70<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |    200000 | NS      | $155540.92    | 0.30%             | 2043-09-01      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| SAN MARCOS USD -TXBL | MUNIBOND | CUSIP: 798755GM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | NS      | $297713.36    | 0.57%             | 2040-08-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TAMPA-HILLSBOROUGH   | MUNIBOND | CUSIP: 875301HY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | NS      | $409706.80    | 0.79%             | 2037-07-01      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| TULARE CO BRD ED-TXB | MUNIBOND | CUSIP: 899141BL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | NS      | $184854.08    | 0.36%             | 2043-05-01      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| UNIV CA RGTS-M-TXBL  | MUNIBOND | CUSIP: 913366JA9<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |     70000 | NS      | $69682.20     | 0.13%             | 2026-05-15      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA-N | MUNIBOND | CUSIP: 91412G2Y0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | NS      | $24781.40     | 0.05%             | 2027-05-15      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| UNIV OF PITTSBURGH P | MUNIBOND | CUSIP: 914805EX0<br>LEI: 5493002C83QSGL8ETT42 | Long             | DBT              | MUN               | US        |    140000 | NS      | $139571.29    | 0.27%             | 2026-09-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH | MUNIBOND | CUSIP: 917567FQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | NS      | $448690.00    | 0.86%             | 2038-12-15      | Fixed         | 2.77%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810QZ4<br>LEI: N/A                  | Long             | DBT              | UST               | US        |    900000 | NS      | $730828.08    | 1.41%             | 2043-02-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810RK6<br>LEI: N/A                  | Long             | DBT              | UST               | US        |    750000 | NS      | $533232.45    | 1.03%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810SA7<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   1000000 | NS      | $747226.60    | 1.44%             | 2048-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | NS      | $914472.60    | 1.76%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810TH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | NS      | $418593.75    | 0.81%             | 2042-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 912810TM0<br>LEI: N/A                  | Long             | DBT              | UST               | US        |   1000000 | NS      | $920039.10    | 1.77%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B      | TREASNOT | CUSIP: 91282CDY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | NS      | $223281.25    | 0.43%             | 2032-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-26

**Name of Applicant:** Spinnaker ETF Series

**Signature:** Pete Mccabe

**Name of Signer:** Pete Mccabe

**Title:** Principal Accounting Officer/Principal Financial Officer