# EDGAR Filing Document

**Accession Number:** 0000920547
**File Stem:** 0001193125-26-076411
**Filing Date:** 2026-2
**Character Count:** 101641
**Document Hash:** 4bc98ab8aa447350536c74cbc011074d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-076411.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001193125-26-076411

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOUCHSTONE VARIABLE SERIES TRUST
- **CENTRAL INDEX KEY:** 0000920547

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08416
- **FILM NUMBER:** 26687311

**BUSINESS ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202-4203
- **BUSINESS PHONE:** 513-362-8000

**MAIL ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202-4203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SELECT ADVISORS VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 19950912

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IFS VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 19940318

## Series and Classes Contracts Data

### Touchstone Balanced Fund (Series ID: S000059066)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000193689 | Touchstone Balanced Fund - Class I |  |
| C000226678 | Class SC                           |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Touchstone Variable Series Trust

- **b. Investment Company Act file number:** 811-08416

- **c. CIK number of Registrant:** 0000920547

- **d. LEI of Registrant:** 549300PPYZ5OV9N1T150

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

  - **Street Address 1:** 303 Broadway

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45202

  - **Telephone number:** 8006388194

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

- **a. Name of Series:** Touchstone Variable Series Trust-Touchstone Balanced Fund

- **b. EDGAR series identifier (if any):** S000059066

- **c. LEI of Series:** 549300R24124F2BXT953

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

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

- **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:** $48130401.25

**Total Liabilities:** $762427.93

**Net Assets:** $47367973.32

**Cash Not Reported:** $2694.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 261.162976548282 | **1-Year:** 425.841204216112 | **5-Year:** 2513.553122413363 | **10-Year:** 2950.468543809561 | **30-Year:** 1596.064359764743

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

- **3-Month:** 0.000000000000 | **1-Year:** 5.050669966606 | **5-Year:** 5.475762018002 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000193689 | 1.24%                | 0.21%                | 0.81%                |
| Class ID C000226678 | 1.24%                | 0.21%                | 0.83%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1438316.95              | $-885938.93                                |
| Month 2  | $6391.37                 | $16187.46                                  |
| Month 3  | $-7604.44                | $322283.24                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Short-Term Invts T                                                                   | Short-Term Invts T INVSCO GOVT INST                                   | CUSIP: 825252885<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |    667946 | NS      | $667946.40    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Mars Inc.                                                                            | MARS 3.6 04/01/34 144A                                                | CUSIP: 571676AC9<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     33000 | PA      | $30490.01     | 0.06%             | 2034-04-01      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 5.2 03/01/35 144A                                                | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     72000 | PA      | $74154.95     | 0.16%             | 2035-03-01      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| PNC Capital Trust C                                                                  | PNC F 06/01/28                                                        | CUSIP: 69349AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $83652.66     | 0.18%             | 2028-06-01      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Pepsico Inc                                                                          | PEP 1.625 05/01/30                                                    | CUSIP: 713448EZ7<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |     45000 | PA      | $40790.61     | 0.09%             | 2030-05-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Pernod Ricard International Finance Llc                                              | RIFP 1.625 04/01/31 144A                                              | CUSIP: 71427QAB4<br>LEI: 5493009254WI1A8WXT48 | Long             | DBT              | CORP              | US        |     97000 | PA      | $84404.58     | 0.18%             | 2031-04-01      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                   | PERU 2.78 12/01/60                                                    | CUSIP: 715638DQ2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    119000 | PA      | $64450.40     | 0.14%             | 2060-12-01      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                     | PM 5.375 02/15/33                                                     | CUSIP: 718172DB2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    102000 | PA      | $106837.88    | 0.23%             | 2033-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Oncor Electric Delivery Company LLC                                                  | ONCRTX 5.8 04/01/55 144A                                              | CUSIP: 68233JDA9<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     78000 | PA      | $78754.83     | 0.17%             | 2055-04-01      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| RTX Corp.                                                                            | RTX 6.4 03/15/54                                                      | CUSIP: 75513ECX7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |     52000 | PA      | $57388.98     | 0.12%             | 2054-03-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Sempra Infrastructure Partners LP                                                    | SMPINF 3.25 01/15/32 144A                                             | CUSIP: 81685VAA1<br>LEI: 549300L0B3MD11PUAA07 | Long             | DBT              | CORP              | US        |     86000 | PA      | $76216.52     | 0.16%             | 2032-01-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.                                         | Taiwan Semiconductor Manufacturing Co., Ltd. SPON ADS REP 5 ORD TWD10 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      2497 | NS      | $758813.33    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Westrock MWV LLC                                                                     | SW 8.2 01/15/30                                                       | CUSIP: 961548AV6<br>LEI: 4DL8C98Z5G5IXZLH3578 | Long             | DBT              | CORP              | US        |     16000 | PA      | $18221.46     | 0.04%             | 2030-01-15      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER)  | AER 3 10/29/28                                                        | CUSIP: 00774MAW5<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |     85000 | PA      | $82435.46     | 0.17%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Calpine Corporation                                                                  | CPN 5 02/01/31 144A                                                   | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40627.24     | 0.09%             | 2031-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Canadian Pacific Railway Company                                                     | CP 3 12/02/41                                                         | CUSIP: 13645RBG8<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $59967.39     | 0.13%             | 2041-12-02      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                           | Boeing Co. COM USD5.00                                                | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      2694 | NS      | $584921.28    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                                                                  | Comcast Corporation COM USD0.01 CL A                                  | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      9684 | NS      | $289454.76    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                                                                      | Deere & Company COM USD1                                              | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       695 | NS      | $323571.15    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                                                                 | EIX 4.125 03/15/28                                                    | CUSIP: 281020AM9<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |     59000 | PA      | $58324.87     | 0.12%             | 2028-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                                                                 | ELV 4.75 02/15/33                                                     | CUSIP: 28622HAB7<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     59000 | PA      | $59264.73     | 0.13%             | 2033-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp.                                                                      | Starbucks Corp. COM USD0.001                                          | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      1984 | NS      | $167072.64    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| FLAGSTAR MTG TR 2021-5INV                                                            | FSMT 2021-5INV A16                                                    | CUSIP: 33851PAS4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     64470 | PA      | $53439.57     | 0.11%             | 2051-07-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 725423                                                             | CUSIP: 31402C4G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26252 | PA      | $26999.71     | 0.06%             | 2034-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas Instruments Inc.                                                               | Texas Instruments Inc. COM USD1.00                                    | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      2584 | NS      | $448298.16    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Mortgage Trust 2018-3Inv                                                    | FSMT 2021-4 A1                                                        | CUSIP: 33852FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    132000 | PA      | $110814.53    | 0.23%             | 2051-06-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 725610                                                             | CUSIP: 31402DDP2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     23723 | PA      | $24338.94     | 0.05%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2012-Lc5                                       | WFCM 2019-C51 A4                                                      | CUSIP: 95001VAU4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $162237.83    | 0.34%             | 2052-06-17      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| Gildan Activewear Inc.                                                               | GILCN 4.7 10/07/30 144A                                               | CUSIP: 375916AF0<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $19919.63     | 0.04%             | 2030-10-07      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FA0499                                                             | CUSIP: 3140W0RV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    201428 | PA      | $201601.30    | 0.43%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Western Midstream Operating LP                                                       | WES 5.25 02/01/50                                                     | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     65000 | PA      | $55787.06     | 0.12%             | 2050-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Gildan Activewear Inc.                                                               | GILCN 5.4 10/07/35 144A                                               | CUSIP: 375916AG8<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |     42000 | PA      | $41963.56     | 0.09%             | 2035-10-07      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS2906                                                             | CUSIP: 3140XJGQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    208824 | PA      | $209510.48    | 0.44%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp.                                                                      | SBUX 3.35 03/12/50                                                    | CUSIP: 855244AX7<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |     53000 | PA      | $36297.48     | 0.08%             | 2050-03-12      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS9194                                                             | CUSIP: 3140XRGC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    140222 | PA      | $130281.14    | 0.28%             | 2052-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| STORE Capital Corp.                                                                  | STOR 4.625 03/15/29                                                   | CUSIP: 862121AB6<br>LEI: 5493004EA6C9IHDZ7N66 | Long             | DBT              | CORP              | US        |     44000 | PA      | $43855.67     | 0.09%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 890310                                                             | CUSIP: 31410LDP4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5936 | PA      | $5986.67      | 0.01%             | 2040-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STORE Capital Corp.                                                                  | STOR 2.7 12/01/31                                                     | CUSIP: 862121AD2<br>LEI: 5493004EA6C9IHDZ7N66 | Long             | DBT              | CORP              | US        |     56000 | PA      | $49515.99     | 0.10%             | 2031-12-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Cargill Inc.                                                                         | CARGIL 4.76 11/23/45 144A                                             | CUSIP: 141781BF0<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |     64000 | PA      | $57975.54     | 0.12%             | 2045-11-23      | Fixed         | 4.76%                 | Yes           |                  2 | On Loan: No      |
| Crown Castle Inc.                                                                    | CCI 4.8 09/01/28                                                      | CUSIP: 22822VBB6<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     82000 | PA      | $83219.13     | 0.18%             | 2028-09-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Ferguson Enterprises Inc                                                             | FERG 4.35 03/15/31                                                    | CUSIP: 31488VAB3<br>LEI: 2138003JYQMRP3SLX189 | Long             | DBT              | CORP              | US        |     54000 | PA      | $53861.43     | 0.11%             | 2031-03-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                               | TFC F 05/15/27 A                                                      | CUSIP: 86787XAA3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    151000 | PA      | $150069.33    | 0.32%             | 2027-05-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| The Timken Company                                                                   | TKR 4.5 12/15/28                                                      | CUSIP: 887389AK0<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80640.67     | 0.17%             | 2028-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                                            | TOYOTA 4.65 01/05/29 MTN                                              | CUSIP: 89236TLL7<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     49000 | PA      | $49922.71     | 0.11%             | 2029-01-05      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| iShares Trust                                                                        | iShares Trust BROAD USD HIGH                                          | CUSIP: 46435U853<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     11938 | NS      | $446421.51    | 0.94%             |  |  |  | No            |                  1 | On Loan: —       |
| Microsoft Corp.                                                                      | Microsoft Corp. COM USD0.00000625                                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      5768 | NS      | $2789520.16   | 5.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                                                   | META 4.875 11/15/35                                                   | CUSIP: 30303MAD4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80027.25     | 0.17%             | 2035-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corporation                                                         | NSC 4.837 10/01/41                                                    | CUSIP: 655844BH0<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |     66000 | PA      | $62380.01     | 0.13%             | 2041-10-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Northwestern Mutual Life Insurance Co.                                               | NWMLIC 3.85 09/30/47 144A                                             | CUSIP: 668138AA8<br>LEI: 1DU7IM20QESYGDO4HO54 | Long             | DBT              | CORP              | US        |     93000 | PA      | $72485.52     | 0.15%             | 2047-09-30      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| Apple Inc.                                                                           | Apple Inc. COM USD0.00001                                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      8461 | NS      | $2300207.46   | 4.86%             |  |  |  | No            |                  1 | On Loan: No      |
| PSMC 2019-1 Trust                                                                    | PSMC 2021-3 A3                                                        | CUSIP: 69376DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    131932 | PA      | $119938.90    | 0.25%             | 2051-08-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Applied Materials Inc.                                                               | Applied Materials Inc. COM USD0.01                                    | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      1952 | NS      | $501644.48    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Poland (Republic of)                                                                 | POLAND 5.5 03/18/54 30Y                                               | CUSIP: 731011AZ5<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     61000 | PA      | $58417.63     | 0.12%             | 2054-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GS MBS TRUST 2021-PJ10                                                               | GSMBS 2021-PJ10 A8                                                    | CUSIP: 36262PAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    173566 | PA      | $155871.17    | 0.33%             | 2052-03-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                   | Meta Platforms Inc COM USD0.000006 CL 'A'                             | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      3001 | NS      | $1980930.09   | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Energy                                                                     | PFMT 2021-J1 A3                                                       | CUSIP: 74387MAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    139048 | PA      | $124629.93    | 0.26%             | 2051-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| NGPL Pipe Co LLC                                                                     | NGPLCO 7.768 12/15/37 144A                                            | CUSIP: 62912XAC8<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |     79000 | PA      | $91902.13     | 0.19%             | 2037-12-15      | Fixed         | 7.77%                 | Yes           |                  2 | On Loan: No      |
| Monster Beverage Corp                                                                | Monster Beverage Corp COM USD0.005                                    | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      4251 | NS      | $325924.17    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| RATE MORTGAGE TRUST 2021-J3                                                          | RATE 2021-J3 A7                                                       | CUSIP: 75409TAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    136128 | PA      | $121878.92    | 0.26%             | 2051-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| State Street Corp.                                                                   | STT F 06/15/47                                                        | CUSIP: 857477AY9<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    110000 | PA      | $98280.81     | 0.21%             | 2047-06-15      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corporation                                                               | CMS V4.75 06/01/50                                                    | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113128.27    | 0.24%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RATE MORTGAGE TRUST 2021-HB1                                                         | RATE 2021-HB1 A7                                                      | CUSIP: 75409XAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     83840 | PA      | $74989.06     | 0.16%             | 2051-12-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | Amazon.com, Inc. COM USD0.01                                          | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      8010 | NS      | $1848868.20   | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                                                                  | CMCSA 4 03/01/48                                                      | CUSIP: 20030NCK5<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     61000 | PA      | $46032.47     | 0.10%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RATE MORTGAGE TRUST 2022-J1                                                          | RATE 2022-J1 A9                                                       | CUSIP: 75410RAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    127866 | PA      | $114195.32    | 0.24%             | 2052-01-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                        | USB V4.967 07/22/33 MTN                                               | CUSIP: 91159HJG6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     56000 | PA      | $56499.51     | 0.12%             | 2033-07-22      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance (USA) plc                                                          | RIOLN 5.25 03/14/35                                                   | CUSIP: 76720AAU0<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |     38000 | PA      | $39227.66     | 0.08%             | 2035-03-14      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                              | HYNMTR 5.35 03/19/29 144A                                             | CUSIP: 44891ACY1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     69000 | PA      | $71024.82     | 0.15%             | 2029-03-19      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Invitation Homes Operating Partnership Lp                                            | INVH 4.15 04/15/32                                                    | CUSIP: 46188BAD4<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |     77000 | PA      | $74978.67     | 0.16%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                           | OXY 7.95 06/15/39                                                     | CUSIP: 674599DH5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     73000 | PA      | $85847.93     | 0.18%             | 2039-06-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Ohio Power Company                                                                   | AEP 2.9 10/01/51 R                                                    | CUSIP: 677415CU3<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |     85000 | PA      | $52563.72     | 0.11%             | 2051-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Walt Disney Company                                                                  | Walt Disney Company COM DISNEY USD0.01                                | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      2504 | NS      | $284880.08    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Incorporated                                                                 | Hubbell Incorporated COM USD0.001                                     | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |       691 | NS      | $306880.01    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc.                                                          | LPL Financial Holdings Inc. COM USD0.001                              | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |       963 | NS      | $343954.71    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| BP Capital Markets America, Inc.                                                     | BPLN 4.97 10/17/29                                                    | CUSIP: 10373QBZ2<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87524.02     | 0.18%             | 2029-10-17      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Markel Group Inc                                                                     | Markel Group Inc COM NPV                                              | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |       287 | NS      | $616949.55    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                                                | Bank of America Corp. COM USD0.01                                     | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     15782 | NS      | $868010.00    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                                                                      | Salesforce Inc. COM USD0.001                                          | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      2427 | NS      | $642936.57    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 3.419 04/15/33                                                   | CUSIP: 11135FCU3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     91000 | PA      | $84450.99     | 0.18%             | 2033-04-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                                                             | Visa Inc COM STK USD0.0001                                            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2268 | NS      | $795410.28    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Biomarin Pharmaceutical Inc.                                                         | Biomarin Pharmaceutical Inc. COM USD0.001                             | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      3000 | NS      | $178290.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Northern Santa Fe LLC                                                     | BNSF 5.75 05/01/40                                                    | CUSIP: 12189LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $72044.96     | 0.15%             | 2040-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HCA Healthcare Inc                                                                   | HCA Healthcare Inc COM USD0.01                                        | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       718 | NS      | $335205.48    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SB0762                                                             | CUSIP: 3132CWZ31<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    126945 | PA      | $120225.01    | 0.25%             | 2037-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Videotron LTD/ Videotron LTEE                                                        | QBRCN 3.625 06/15/29 144A                                             | CUSIP: 92660FAN4<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |     98000 | PA      | $95368.69     | 0.20%             | 2029-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD1436                                                             | CUSIP: 3132DNSZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    261419 | PA      | $257978.46    | 0.54%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD1515                                                             | CUSIP: 3132DNVG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    230640 | PA      | $227994.62    | 0.48%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD1620                                                             | CUSIP: 3132DNYR8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    226875 | PA      | $229359.16    | 0.48%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD1638                                                             | CUSIP: 3132DNZB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    233044 | PA      | $234126.10    | 0.49%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances Inc.                                              | International Flavors & Fragrances Inc. COM USD0.125                  | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |      3213 | NS      | $216524.07    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                                                    | Johnson & Johnson COM USD1.00                                         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      3025 | NS      | $626023.75    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Incorporated                                                      | Jones Lang LaSalle Incorporated COM USD0.01                           | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      1402 | NS      | $471730.94    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                                                        | Netflix, Inc. COM USD0.001                                            | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      1730 | NS      | $162204.80    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc.                                                      | SS&C Technologies Holdings Inc. COM USD0.01                           | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |      4766 | NS      | $416643.72    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation                                                       | The Charles Schwab Corporation COM USD0.01                            | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      7025 | NS      | $701867.75    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| 7-Eleven Inc.                                                                        | SVELEV 1.8 02/10/31 144A                                              | CUSIP: 817826AE0<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |    125000 | PA      | $109563.99    | 0.23%             | 2031-02-10      | Fixed         | 1.80%                 | Yes           |                  2 | On Loan: No      |
| Berkshire Hathaway Inc.                                                              | Berkshire Hathaway Inc. COM USD0.0033 CLASS'B'                        | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |       846 | NS      | $425241.90    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| John Deere Capital Corp.                                                             | DE 5.1 04/11/34 MTN                                                   | CUSIP: 24422EXP9<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |     72000 | PA      | $74579.53     | 0.16%             | 2034-04-11      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Global Payments Inc                                                                  | GPN 5.2 11/15/32                                                      | CUSIP: 37940XAX0<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     72000 | PA      | $72109.65     | 0.15%             | 2032-11-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc.                                                                      | HD 5.95 04/01/41                                                      | CUSIP: 437076AV4<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |     48000 | PA      | $51513.93     | 0.11%             | 2041-04-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V3.691 06/05/28                                                    | CUSIP: 38141GWL4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44764.48     | 0.09%             | 2028-06-05      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MTG TRUST 2021-13                                                        | JPMMT 2021-13 A4                                                      | CUSIP: 46592XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    111325 | PA      | $100643.84    | 0.21%             | 2052-04-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V2.615 04/22/32                                                    | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91265.82     | 0.19%             | 2032-04-22      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.45 05/14/46                                                    | CUSIP: 00287YAW9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |     69000 | PA      | $60129.72     | 0.13%             | 2046-05-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                                                           | RCICN 5.3 02/15/34                                                    | CUSIP: 775109DF5<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |     85000 | PA      | $85810.63     | 0.18%             | 2034-02-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Airbnb Inc                                                                           | Airbnb Inc COM CL A                                                   | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      3824 | NS      | $518993.28    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V3.509 01/23/29                                                   | CUSIP: 46647PAM8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     82000 | PA      | $81239.44     | 0.17%             | 2029-01-23      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | Alphabet Inc. CAP USD0.001 CL C                                       | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      8330 | NS      | $2613954.00   | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                                                                 | RY V4.969 08/02/30 GMTN                                               | CUSIP: 78016HZZ6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $81997.17     | 0.17%             | 2030-08-02      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Becton, Dickinson and Company                                                        | Becton, Dickinson and Company COM USD1.00                             | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      2566 | NS      | $497983.62    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.956 05/13/31                                                   | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    104000 | PA      | $98191.03     | 0.21%             | 2031-05-13      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| Stanley Black & Decker, Inc.                                                         | Stanley Black & Decker, Inc. COM USD2.50                              | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |      3096 | NS      | $229970.88    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 3.5 08/15/39                                                      | CUSIP: 91324PDT6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     87000 | PA      | $72645.31     | 0.15%             | 2039-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                                                         | Bristol-Myers Squibb Company COM USD0.10                              | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      7348 | NS      | $396351.12    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kroger Co.                                                                       | KR 5 04/15/42                                                         | CUSIP: 501044CR0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     52000 | PA      | $48597.95     | 0.10%             | 2042-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Workday Inc                                                                          | Workday Inc COM USD0.001 CL A                                         | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      1655 | NS      | $355460.90    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                                                           | Diageo PLC ADR REPR 4 ORD GBX28.935185                                | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |      1646 | NS      | $142000.42    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 2.987 10/30/56                                                     | CUSIP: 92343VFW9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     80000 | PA      | $47822.01     | 0.10%             | 2056-10-30      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| Macquarie Airfinance Holdings Ltd                                                    | MCAIRH 6.4 03/26/29 144A                                              | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |     70000 | PA      | $73403.59     | 0.15%             | 2029-03-26      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 5.875 11/30/55                                                     | CUSIP: 92343VHJ6<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29726.03     | 0.06%             | 2055-11-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 4.5 05/15/35                                                        | CUSIP: 00206RCP5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     44000 | PA      | $42343.96     | 0.09%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                                          | UPS 5.95 05/14/55                                                     | CUSIP: 911312CK0<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |     72000 | PA      | $74646.58     | 0.16%             | 2055-05-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 3.8 12/01/57                                                        | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     88000 | PA      | $60767.22     | 0.13%             | 2057-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Medtronic PLC                                                                        | Medtronic PLC USD0.0001                                               | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      6137 | NS      | $589520.22    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BMW US Capital, LLC                                                                  | BMW 4.5 08/11/30 144A                                                 | CUSIP: 05565EDC6<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |     74000 | PA      | $74427.19     | 0.16%             | 2030-08-11      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                 | GM 3.1 01/12/32                                                       | CUSIP: 37045XDS2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    131000 | PA      | $119568.24    | 0.25%             | 2032-01-12      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Georgia Power Company                                                                | SO 5.95 02/01/39                                                      | CUSIP: 373334JN2<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |     43000 | PA      | $45719.97     | 0.10%             | 2039-02-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BANK 2020-BNK26                                                                      | BANK 2020-BN26 A4                                                     | CUSIP: 06540JBG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $55092.26     | 0.12%             | 2063-03-16      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 5.5 03/01/32                                                      | CUSIP: 404119DA4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     76000 | PA      | $79314.41     | 0.17%             | 2032-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMCC Commercial Mortgage Securities Trust 2015-Jp1                                  | JPMCC 2017-JP7 A5                                                     | CUSIP: 465968AE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $167840.88    | 0.35%             | 2050-09-16      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| BANK 2021-BNK37                                                                      | BANK 2021-BN37 A5                                                     | CUSIP: 06540LBF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    280000 | PA      | $250630.52    | 0.53%             | 2064-11-18      | Variable      | 2.62%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 5.95 09/26/55                                                    | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     46000 | PA      | $40929.04     | 0.09%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co (The)                                                                   | KO 2.5 03/15/51                                                       | CUSIP: 191216DC1<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    126000 | PA      | $75905.93     | 0.16%             | 2051-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PacifiCorp.                                                                          | BRKHEC 5.75 04/01/37                                                  | CUSIP: 695114CD8<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |     73000 | PA      | $74121.50     | 0.16%             | 2037-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CommonSpirit Health                                                                  | CATMED 4.187 10/01/49                                                 | CUSIP: 20268JAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $55109.44     | 0.12%             | 2049-10-01      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp.                                       | PENSKE 5.35 01/12/27 144A                                             | CUSIP: 709599BY9<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |     44000 | PA      | $44504.99     | 0.09%             | 2027-01-12      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Duke Energy Progress LLC                                                             | DUK 4.15 12/01/44                                                     | CUSIP: 26442RAD3<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     81000 | PA      | $67674.37     | 0.14%             | 2044-12-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp                                                        | EFNCN 5.037 03/25/30 144A                                             | CUSIP: 286181AP7<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |     78000 | PA      | $79794.21     | 0.17%             | 2030-03-25      | Fixed         | 5.04%                 | Yes           |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                           | BATSLN 2.259 03/25/28                                                 | CUSIP: 05526DBR5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     72000 | PA      | $69300.89     | 0.15%             | 2028-03-25      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                 | Las Vegas Sands Corp COM USD0.001                                     | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |      3870 | NS      | $251898.30    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel, Inc.                                                                         | MAT 5.45 11/01/41                                                     | CUSIP: 577081AW2<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     62000 | PA      | $58447.07     | 0.12%             | 2041-11-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance 2018-Mtg1                                          | MELLO 2021-MTG3 A9                                                    | CUSIP: 58549RAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     67573 | PA      | $61461.54     | 0.13%             | 2051-07-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Meritage Homes Corp                                                                  | MTH 3.875 04/15/29 144A                                               | CUSIP: 59001ABD3<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     92000 | PA      | $90419.02     | 0.19%             | 2029-04-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Microsoft Corp.                                                                      | MSFT 2.525 06/01/50                                                   | CUSIP: 594918CC6<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    113000 | PA      | $69353.57     | 0.15%             | 2050-06-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                                                               | MU 2.703 04/15/32                                                     | CUSIP: 595112BS1<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |     41000 | PA      | $36825.84     | 0.08%             | 2032-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Midwest Connector Capital Company LLC                                                | MWXCAP 4.625 04/01/29 144A                                            | CUSIP: 59833CAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $78147.76     | 0.16%             | 2029-04-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust 2020-1                                           | NRZT 2021-INV2 A7                                                     | CUSIP: 64831GAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125300 | PA      | $113596.90    | 0.24%             | 2051-09-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| New York Life Global Funding                                                         | NYLIFE 4.55 01/28/33 144A                                             | CUSIP: 64952WEZ2<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |     61000 | PA      | $60916.34     | 0.13%             | 2033-01-28      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| The Sherwin-Williams Company                                                         | SHW 4.5 06/01/47                                                      | CUSIP: 824348AX4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |     68000 | PA      | $58185.52     | 0.12%             | 2047-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Uber Technologies Inc                                                                | Uber Technologies Inc COM USD0.00001                                  | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      3060 | NS      | $250032.60    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UnitedHealth Group Inc. COM USD0.01                                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1304 | NS      | $430463.44    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| First Maryland Capital I                                                             | MTB F 01/15/27                                                        | CUSIP: 320808AD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     52000 | PA      | $51493.69     | 0.11%             | 2027-01-15      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp.                                                                         | NVIDIA Corp. COM USD0.001                                             | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     10758 | NS      | $2006367.00   | 4.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                                                         | Oracle Corp. COM USD0.01                                              | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      2845 | NS      | $554518.95    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor Flexibles North America Inc                                                    | AMCR 2.63 06/19/30                                                    | CUSIP: 081437AT2<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |     82000 | PA      | $76108.06     | 0.16%             | 2030-06-19      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                     | Philip Morris International Inc. COM NPV                              | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      4287 | NS      | $687634.80    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowes Companies, Inc.                                                                | LOW 4.5 04/15/30                                                      | CUSIP: 548661DU8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     92000 | PA      | $93235.60     | 0.20%             | 2030-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Teachers Insurance and Annuity Association of America                                | TIAAGL 3.3 05/15/50 144A                                              | CUSIP: 878091BG1<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |    117000 | PA      | $80519.71     | 0.17%             | 2050-05-15      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| Marsh & McLennan Companies, Inc.                                                     | MMC 5.35 11/15/44                                                     | CUSIP: 571748CE0<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |     52000 | PA      | $51052.47     | 0.11%             | 2044-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Texas Instruments Inc.                                                               | TXN 5.1 05/23/35                                                      | CUSIP: 882508CM4<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |     56000 | PA      | $57721.44     | 0.12%             | 2035-05-23      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Marvell Technology Inc                                                               | MRVL 2.95 04/15/31                                                    | CUSIP: 573874AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $79738.92     | 0.17%             | 2031-04-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Textron Financial Corporation                                                        | TXT V0 02/15/42 144A                                                  | CUSIP: 883199AR2<br>LEI: 4E8B2CNXPE5P5AY03O18 | Long             | DBT              | CORP              | US        |    132000 | PA      | $118953.79    | 0.25%             | 2042-02-15      | Floating      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V2.484 09/16/36                                                    | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     63000 | PA      | $55465.42     | 0.12%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | TII 2.375 02/15/55                                                    | CUSIP: 912810UH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    665556 | PA      | $632816.23    | 1.34%             | 2055-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS 3.95 04/23/27                                                      | CUSIP: 61761JZN2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     89000 | PA      | $88946.14     | 0.19%             | 2027-04-23      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Cap I Tst 2018-H3                                                     | MSC 2018-H3 A5                                                        | CUSIP: 61767YAZ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $74901.80     | 0.16%             | 2051-07-17      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc                                                         | TMO 5.404 08/10/43                                                    | CUSIP: 883556CY6<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |     59000 | PA      | $59535.65     | 0.13%             | 2043-08-10      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| United Air Lines, Inc.                                                               | UAL 4.625 04/15/29 144A                                               | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     78000 | PA      | $77654.58     | 0.16%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Becton, Dickinson and Company                                                        | BDX 4.685 12/15/44                                                    | CUSIP: 075887BG3<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |     55000 | PA      | $48850.51     | 0.10%             | 2044-12-15      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| DH Europe Finance II SARL                                                            | DHR 3.25 11/15/39                                                     | CUSIP: 23291KAJ4<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |     85000 | PA      | $69821.37     | 0.15%             | 2039-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DCP Midstream Operating LP                                                           | DCP 6.75 09/15/37                                                     | CUSIP: 23311RAA4<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |     87000 | PA      | $94788.83     | 0.20%             | 2037-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Dreyfus Government Cash Management Funds                                             | Dreyfus Government Cash Management Funds SH BEN INT                   | CUSIP: 262006208<br>LEI: 549300F7IDB6WRO7VJ11 | Long             | STIV             | RF                | US        |    538972 | NS      | $538971.99    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ERAC USA Finance LLC                                                                 | ENTERP 4.2 11/01/46 144A                                              | CUSIP: 26884TAS1<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |     64000 | PA      | $53259.90     | 0.11%             | 2046-11-01      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| Skymiles IP Ltd. & Delta Air Lines Inc.                                              | DAL 4.75 10/20/28 144A                                                | CUSIP: 830867AB3<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | KY        |     70000 | PA      | $70432.26     | 0.15%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Berkshire Hathaway Finance Corporation                                               | BRK 4.25 01/15/49                                                     | CUSIP: 084664CR0<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |     57000 | PA      | $48010.98     | 0.10%             | 2049-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Cim Trust                                                                            | CIM 2021-J3 A7                                                        | CUSIP: 12565VAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    117279 | PA      | $105392.22    | 0.22%             | 2051-06-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                                                  | CSCO 4.85 02/26/29                                                    | CUSIP: 17275RBR2<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    104000 | PA      | $106816.60    | 0.23%             | 2029-02-26      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V6.174 05/25/34                                                     | CUSIP: 17327CAR4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     49000 | PA      | $52116.28     | 0.11%             | 2034-05-25      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V4.542 09/19/30                                                     | CUSIP: 17327CAT0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    106000 | PA      | $106920.66    | 0.23%             | 2030-09-19      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust 2020-Gc46                                        | CGCMT 2020-GC46 A5                                                    | CUSIP: 17328RAZ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    255000 | PA      | $237354.33    | 0.50%             | 2053-02-18      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                                    | Exxon Mobil Corp. COM NPV                                             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      5663 | NS      | $681485.42    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | Goldman Sachs Group, Inc. COM USD0.01                                 | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       676 | NS      | $594204.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Inc.                                                                         | PII 5.6 03/01/31                                                      | CUSIP: 731068AB8<br>LEI: 549300QJSN8UVWN1EI78 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60671.09     | 0.13%             | 2031-03-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.875 04/15/30                                                   | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     96000 | PA      | $94504.81     | 0.20%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 5.75 01/15/54                                                    | CUSIP: 87264ADB8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34471.82     | 0.07%             | 2054-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| American Express Company                                                             | AXP V5.282 07/27/29                                                   | CUSIP: 025816DH9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     93000 | PA      | $95813.51     | 0.20%             | 2029-07-27      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| American Tower Corporation                                                           | AMT 5.9 11/15/33                                                      | CUSIP: 03027XCF5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     87000 | PA      | $93080.85     | 0.20%             | 2033-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Amgen Inc.                                                                           | AMGN 5.15 03/02/28                                                    | CUSIP: 031162DP2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     74000 | PA      | $75756.60     | 0.16%             | 2028-03-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide Inc                    | ABIBB 4.9 02/01/46 *                                                  | CUSIP: 03522AAJ9<br>LEI: 5493002J2SVENP0PVK27 | Long             | DBT              | CORP              | US        |     48000 | PA      | $44598.82     | 0.09%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Apple Inc.                                                                           | AAPL 4.65 02/23/46                                                    | CUSIP: 037833BX7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     87000 | PA      | $80137.77     | 0.17%             | 2046-02-23      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V3.705 04/24/28                                                   | CUSIP: 06051GGL7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     67000 | PA      | $66702.99     | 0.14%             | 2028-04-24      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V2.687 04/22/32                                                   | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     61000 | PA      | $56033.27     | 0.12%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V5.511 01/24/36                                                   | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31365.45     | 0.07%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                                     | BMO V3.803 12/15/32                                                   | CUSIP: 06368BGS1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     77000 | PA      | $76097.52     | 0.16%             | 2032-12-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                                                    | BK V5.834 10/25/33 MTN                                                | CUSIP: 06406RBM8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     65000 | PA      | $70179.00     | 0.15%             | 2033-10-25      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 5.125 07/20/45                                                    | CUSIP: 126650CN8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     60000 | PA      | $54330.16     | 0.11%             | 2045-07-20      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 6.484 10/23/45                                                   | CUSIP: 161175BA1<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |     49000 | PA      | $46159.31     | 0.10%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                          | CQP 4 03/01/31                                                        | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29243.68     | 0.06%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                          | CQP 3.25 01/31/32                                                     | CUSIP: 16411QAN1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     71000 | PA      | $65497.58     | 0.14%             | 2032-01-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                   | DELL 4.85 02/01/35                                                    | CUSIP: 24703DBQ3<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |     48000 | PA      | $47468.26     | 0.10%             | 2035-02-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD8212                                                             | CUSIP: 3132DWDR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    304808 | PA      | $259644.11    | 0.55%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD8220                                                             | CUSIP: 3132DWDZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    149778 | PA      | $133006.43    | 0.28%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QE9228                                                             | CUSIP: 3133BKHD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    254925 | PA      | $250560.98    | 0.53%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR RA7357                                                             | CUSIP: 3133KPE61<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    129123 | PA      | $126975.83    | 0.27%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR RA7483                                                             | CUSIP: 3133KPJ41<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    136279 | PA      | $130264.96    | 0.28%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AD9193                                                             | CUSIP: 31418XGB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21999 | PA      | $22647.57     | 0.05%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QX4026                                                             | CUSIP: 31425YPL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    182845 | PA      | $186692.30    | 0.39%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2020-Pj2                                         | GSMBS 2021-PJ9 A8                                                     | CUSIP: 36263CAH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75602 | PA      | $67941.70     | 0.14%             | 2052-02-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Guardian Life Global Funding                                                         | GUARDN 4.327 10/06/30 144A                                            | CUSIP: 40139LBN2<br>LEI: 635400NHILJ5JEKILC36 | Long             | DBT              | CORP              | US        |     39000 | PA      | $39106.27     | 0.08%             | 2030-10-06      | Fixed         | 4.33%                 | Yes           |                  2 | On Loan: No      |
| HF Sinclair Corp.                                                                    | DINO 5 02/01/28                                                       | CUSIP: 403949AQ3<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |     71000 | PA      | $71013.72     | 0.15%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                            | TPMT 2020-4 A2                                                        | CUSIP: 89179JAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95000 | PA      | $78324.49     | 0.17%             | 2060-10-25      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Tyson Foods, Inc.                                                                    | TSN 5.4 03/15/29                                                      | CUSIP: 902494BL6<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |     57000 | PA      | $58906.44     | 0.12%             | 2029-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | T 4.625 11/15/45                                                      | CUSIP: 912810UQ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    210000 | PA      | $205964.06    | 0.43%             | 2045-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 3.75 04/15/28                                                       | CUSIP: 91282CMW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     30000 | PA      | $30161.72     | 0.06%             | 2028-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 4 05/31/30                                                          | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    560000 | PA      | $567590.63    | 1.20%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 4.25 08/15/35                                                       | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    551000 | PA      | $556165.63    | 1.17%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 4 11/15/35                                                          | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     24000 | PA      | $23707.50     | 0.05%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG G05624                                                             | CUSIP: 3128M7SM9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76303 | PA      | $77144.15     | 0.16%             | 2039-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG Q29260                                                             | CUSIP: 3132M95V2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     50994 | PA      | $49617.12     | 0.10%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                                                                          | WMT 4.5 09/09/52                                                      | CUSIP: 931142EZ2<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |     51000 | PA      | $45091.68     | 0.10%             | 2052-09-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-25

**Name of Applicant:** Touchstone Variable Series Trust

**Signature:** Terri Lucas

**Name of Signer:** Terri Lucas

**Title:** Controller & Treasurer