# EDGAR Filing Document

**Accession Number:** 0000914036
**File Stem:** 0001410368-25-027773
**Filing Date:** 2025-11
**Character Count:** 334319
**Document Hash:** ac5a0d87b938c6b00071b69e8c7a212c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-027773.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-027773

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **CENTRAL INDEX KEY:** 0000914036

**ORGANIZATION NAME:**
- **EIN:** 521835648
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08090
- **FILM NUMBER:** 251504963

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** 260-455-2000

**MAIL ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGGRESSIVE GROWTH FUND /
- **DATE OF NAME CHANGE:** 20031001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **DATE OF NAME CHANGE:** 20030910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN NATIONAL AGGRESSIVE GROWTH FUND INC
- **DATE OF NAME CHANGE:** 19931025

## Series and Classes Contracts Data

### LVIP Franklin Templeton Core Bond Fund (Series ID: S000002812)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000007720 | Standard Class |  |
| C000007721 | Service Class  |  |

## Nport-Ex

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments**

September 30, 2025 (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount°**<br>| **Value** <br>**(U.S. $)**<br>|
| **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–3.43%** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–3.43%** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–3.43%** |
| Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
| &nbsp;&nbsp;&nbsp; Series 4676 Class KZ 2.50% <br> 7/15/45<br>| 1840772 | $1598429 |
| &nbsp;&nbsp;&nbsp; •Series 5444 Class FC 5.48% <br> (30 day USD SOFR Average <br> + 1.12%) 8/25/54<br>| 20071249 | 20080303 |
| &nbsp;&nbsp;&nbsp; •Series 5452 Class FC 5.41% <br> (30 day USD SOFR Average <br> + 1.05%) 9/25/54<br>| 14253154 | 14218347 |
| &nbsp;&nbsp;&nbsp; •Series 5493 Class FK 5.51% <br> (30 day USD SOFR Average <br> + 1.15%) 1/25/55<br>| 358155 | 358252 |
| &nbsp;&nbsp;&nbsp; •Series 5537 Class FC 5.51% <br> (30 day USD SOFR Average <br> + 1.15%) 5/25/55<br>| 14216961 | 14232516 |
| •Federal Home Loan Mortgage Corp. STACR REMICS Trust | •Federal Home Loan Mortgage Corp. STACR REMICS Trust | •Federal Home Loan Mortgage Corp. STACR REMICS Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-DNA5 Class M2 <br> 6.01% (30 day USD SOFR <br> Average + 1.65%) 1/25/34<br>| 4426668 | 4451106 |
| &nbsp;&nbsp;&nbsp; Series 2021-HQA2 Class M2 <br> 6.41% (30 day USD SOFR <br> Average + 2.05%) 12/25/33<br>| 18127098 | 18561608 |
| &nbsp;&nbsp;&nbsp; Series 2022-DNA1 Class M2 <br> 6.86% (30 day USD SOFR <br> Average + 2.50%) 1/25/42<br>| 10549000 | 10721272 |
| &nbsp;&nbsp;&nbsp; Series 2025-DNA2 Class M1 <br> 5.56% (30 day USD SOFR <br> Average + 1.20%) 5/25/45<br>| 1778040 | 1779742 |
| &nbsp;&nbsp;&nbsp; Series 2025-DNA2 Class M2 <br> 5.86% (30 day USD SOFR <br> Average + 1.50%) 5/25/45<br>| 4443000 | 4445896 |
| &nbsp;&nbsp;&nbsp; Series 2025-DNA3 Class A1 <br> 5.32% (30 day USD SOFR <br> Average + 0.95%) 9/25/45<br>| 7452000 | 7456658 |
| &nbsp;&nbsp;&nbsp; Series 2025-DNA3 Class M1 <br> 5.47% (30 day USD SOFR <br> Average + 1.10%) 9/25/45<br>| 11384000 | 11391115 |
| &nbsp;&nbsp;&nbsp; Series 2025-HQA1 Class M2 <br> 6.01% (30 day USD SOFR <br> Average + 1.65%) 2/25/45<br>| 1200000 | 1204532 |
| &nbsp;&nbsp; ♦Federal Home Loan Mortgage <br> Corp. Structured <br> Pass-Through Certificates <br> Series T-58 Class 2A 6.50% <br> 9/25/43<br>| 119597 | 125712 |
| &nbsp;&nbsp; •Federal National Mortgage Association Connecticut Avenue <br> Securities Trust | &nbsp;&nbsp; •Federal National Mortgage Association Connecticut Avenue <br> Securities Trust | &nbsp;&nbsp; •Federal National Mortgage Association Connecticut Avenue <br> Securities Trust |
| &nbsp;&nbsp;&nbsp; Series 2022-R02 Class 2M2 <br> 7.36% (30 day USD SOFR <br> Average + 3.00%) 1/25/42<br>| 4169000 | 4261093 |
| &nbsp;&nbsp;&nbsp; Series 2023-R08 Class 1M1 <br> 5.86% (30 day USD SOFR <br> Average + 1.50%) 10/25/43<br>| 6140339 | 6162258 |
| &nbsp;&nbsp;&nbsp; Series 2024-R04 Class 1A1 <br> 5.36% (30 day USD SOFR <br> Average + 1.00%) 5/25/44<br>| 14540249 | 14562780 |
| &nbsp;&nbsp;&nbsp; Series 2025-R01 Class 1M2 <br> 5.86% (30 day USD SOFR <br> Average + 1.50%) 1/25/45<br>| 5334000 | 5341767 |
| &nbsp;&nbsp;&nbsp; Series 2025-R02 Class 1M2 <br> 5.96% (30 day USD SOFR <br> Average + 1.60%) 2/25/45<br>| 4558000 | 4567821 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| &nbsp;&nbsp; •Federal National Mortgage Association Connecticut Avenue <br> Securities Trust (continued) | &nbsp;&nbsp; •Federal National Mortgage Association Connecticut Avenue <br> Securities Trust (continued) | &nbsp;&nbsp; •Federal National Mortgage Association Connecticut Avenue <br> Securities Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2025-R03 Class 2M1 <br> 5.96% (30 day USD SOFR <br> Average + 1.60%) 3/25/45<br>| 7060721 | $7101262 |
| &nbsp;&nbsp;&nbsp; Series 2025-R04 Class 1M2 <br> 5.86% (30 day USD SOFR <br> Average + 1.50%) 5/25/45<br>| 11307000 | 11306954 |
| Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
| &nbsp;&nbsp;&nbsp; Series 2013-44 Class Z 3.00% <br> 5/25/43<br>| 195048 | 146917 |
| &nbsp;&nbsp;&nbsp; Series 2017-40 Class GZ <br> 3.50% 5/25/47<br>| 2356497 | 2162082 |
| &nbsp;&nbsp;&nbsp; •Series 2024-49 Class AF <br> 5.46% (30 day USD SOFR <br> Average + 1.10%) 7/25/54<br>| 7801054 | 7824789 |
| &nbsp;&nbsp;&nbsp; •Series 2024-87 Class FB <br> 5.46% (30 day USD SOFR <br> Average + 1.10%) 12/25/54<br>| 11764893 | 11751172 |
| &nbsp;&nbsp;&nbsp; •Series 2024-95 Class KF <br> 5.46% (30 day USD SOFR <br> Average + 1.10%) 12/25/54<br>| 1488710 | 1487581 |
| &nbsp;&nbsp;&nbsp; •Series Update Class FE <br> 5.51% (30 day USD SOFR <br> Average + 1.15%) 2/25/55<br>| 14339105 | 14363207 |
| &nbsp;&nbsp; Federal National Mortgage <br> Association REMICS Trust <br> Series 2004-W11 Class 1A2 <br> 6.50% 5/25/44<br>| 33285 | 34387 |
| Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
| &nbsp;&nbsp;&nbsp; Series 2013-113 Class LY <br> 3.00% 5/20/43<br>| 2231683 | 2077164 |
| &nbsp;&nbsp;&nbsp; Series 2017-163 Class ZK <br> 3.50% 11/20/47<br>| 498710 | 454733 |
| **Total Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $203,781,928)** | **Total Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $203,781,928)** | **204231455** |
| **AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–0.67%** | **AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–0.67%** | **AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–0.67%** |
| &nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured <br> Pass-Through Certificates | &nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured <br> Pass-Through Certificates | &nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multifamily Structured <br> Pass-Through Certificates |
| &nbsp;&nbsp;&nbsp; ♦Series K144 Class A2 2.45% <br> 4/25/32<br>| 21463000 | 19323386 |
| &nbsp;&nbsp;&nbsp; ♦•Series K-150 Class A2 3.71% <br> 9/25/32<br>| 10595000 | 10208691 |
| &nbsp;&nbsp;&nbsp; ♦Series K753 Class A2 4.40% <br> 10/25/30<br>| 7284000 | 7386457 |
| &nbsp;&nbsp; •FREMF Mortgage Trust Series <br> 2017-K71 Class B 3.88% <br> 11/25/50<br>| 2731000 | 2680330 |
| **Total Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $39,013,717)** | **Total Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $39,013,717)** | **39598864** |
| **AGENCY MORTGAGE-BACKED SECURITIES–30.64%** | **AGENCY MORTGAGE-BACKED SECURITIES–30.64%** | **AGENCY MORTGAGE-BACKED SECURITIES–30.64%** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; 2.00% 12/1/50 | 5290341 | 4302960 |
| &nbsp;&nbsp; 2.00% 3/1/52 | 13959095 | 11303243 |
| &nbsp;&nbsp; 2.50% 9/1/42 | 19846775 | 17705428 |
| &nbsp;&nbsp; 2.50% 7/1/50 | 1656982 | 1415462 |
| &nbsp;&nbsp; 2.50% 3/1/51 | 2633190 | 2257141 |

---

*LVIP Franklin Templeton Core Bond Fund–1*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** |
| Federal Home Loan Mortgage Corp. (continued) | Federal Home Loan Mortgage Corp. (continued) | Federal Home Loan Mortgage Corp. (continued) |
| &nbsp;&nbsp; 2.50% 5/1/51 | 3369338 | $2886434 |
| &nbsp;&nbsp; 2.50% 11/1/51 | 13835855 | 11908932 |
| &nbsp;&nbsp; 2.50% 12/1/51 | 19142932 | 16443234 |
| &nbsp;&nbsp; 3.00% 1/1/47 | 44589505 | 40295667 |
| &nbsp;&nbsp; 3.00% 8/1/48 | 3737206 | 3376364 |
| &nbsp;&nbsp; 3.00% 7/1/50 | 3089341 | 2780894 |
| &nbsp;&nbsp; 3.00% 8/1/51 | 5256144 | 4679807 |
| &nbsp;&nbsp; 3.00% 8/1/52 | 14620980 | 12992118 |
| &nbsp;&nbsp; 3.50% 2/1/47 | 7884360 | 7432197 |
| &nbsp;&nbsp; 3.50% 7/1/47 | 47508968 | 44388642 |
| &nbsp;&nbsp; 3.50% 11/1/48 | 7182531 | 6723085 |
| &nbsp;&nbsp; 3.50% 2/1/49 | 31086632 | 28598552 |
| &nbsp;&nbsp; 4.00% 10/1/47 | 5615840 | 5381180 |
| &nbsp;&nbsp; 4.00% 9/1/49 | 5274987 | 5070705 |
| &nbsp;&nbsp; 4.00% 9/1/52 | 12923572 | 12214275 |
| &nbsp;&nbsp; 4.50% 5/1/38 | 3699275 | 3699373 |
| &nbsp;&nbsp; 4.50% 1/1/49 | 3555758 | 3502963 |
| &nbsp;&nbsp; 4.50% 3/1/49 | 1757882 | 1732802 |
| &nbsp;&nbsp; 4.50% 8/1/49 | 5355880 | 5298380 |
| &nbsp;&nbsp; 4.50% 10/1/52 | 18089997 | 17627939 |
| &nbsp;&nbsp; 5.00% 10/1/48 | 2118064 | 2135642 |
| &nbsp;&nbsp; 5.00% 7/1/52 | 11078700 | 11102103 |
| &nbsp;&nbsp; 5.00% 9/1/52 | 23462279 | 23488511 |
| &nbsp;&nbsp; 5.50% 9/1/41 | 6017009 | 6268120 |
| &nbsp;&nbsp; 5.50% 9/1/52 | 11348995 | 11597425 |
| &nbsp;&nbsp; 5.50% 11/1/52 | 2311931 | 2355532 |
| &nbsp;&nbsp; 5.50% 3/1/53 | 20711881 | 21176633 |
| &nbsp;&nbsp; 5.50% 9/1/53 | 23201856 | 23649091 |
| &nbsp;&nbsp; 5.50% 2/1/54 | 18816169 | 19098171 |
| &nbsp;&nbsp; 5.50% 2/1/55 | 35142818 | 35445616 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; 2.00% 8/1/36 | 26218051 | 24144581 |
| &nbsp;&nbsp; 2.00% 6/1/50 | 22074844 | 17991546 |
| &nbsp;&nbsp; 2.00% 11/1/50 | 13949852 | 11397802 |
| &nbsp;&nbsp; 2.00% 1/1/51 | 4315823 | 3539166 |
| &nbsp;&nbsp; 2.00% 2/1/51 | 11486940 | 9413027 |
| &nbsp;&nbsp; 2.00% 3/1/51 | 1655884 | 1345455 |
| &nbsp;&nbsp; 2.00% 4/1/51 | 16545067 | 13436501 |
| &nbsp;&nbsp; 2.00% 8/1/51 | 6002807 | 4903071 |
| &nbsp;&nbsp; 2.00% 9/1/51 | 40800116 | 33007106 |
| &nbsp;&nbsp; 2.00% 1/1/52 | 15623528 | 12807363 |
| &nbsp;&nbsp; 2.50% 8/1/50 | 21127704 | 18183868 |
| &nbsp;&nbsp; 2.50% 1/1/51 | 36927867 | 31866272 |
| &nbsp;&nbsp; 2.50% 6/1/51 | 6115402 | 5261846 |
| &nbsp;&nbsp; 2.50% 7/1/51 | 906083 | 773466 |
| &nbsp;&nbsp; 2.50% 8/1/51 | 30695552 | 26282377 |
| &nbsp;&nbsp; 2.50% 2/1/52 | 56064253 | 47304817 |
| &nbsp;&nbsp; 2.50% 7/1/53 | 6549975 | 5562828 |
| &nbsp;&nbsp; 3.00% 11/1/33 | 7188670 | 6995401 |
| &nbsp;&nbsp; 3.00% 6/1/45 | 370735 | 337295 |
| &nbsp;&nbsp; 3.00% 8/1/46 | 884973 | 800862 |
| &nbsp;&nbsp; 3.00% 12/1/47 | 1937128 | 1746908 |
| &nbsp;&nbsp; 3.00% 2/1/48 | 16964731 | 15384114 |
| &nbsp;&nbsp; 3.00% 3/1/48 | 13478309 | 12180631 |
| &nbsp;&nbsp; 3.00% 12/1/49 | 14876682 | 13318778 |
| &nbsp;&nbsp; 3.50% 8/1/50 | 23918583 | 22177193 |
| &nbsp;&nbsp; 3.50% 5/1/52 | 11342669 | 10492907 |
| &nbsp;&nbsp; 4.00% 9/1/42 | 21262673 | 20784446 |
| &nbsp;&nbsp; 4.00% 10/1/48 | 3494645 | 3388680 |
| &nbsp;&nbsp; 4.50% 1/1/50 | 2432803 | 2392578 |
| &nbsp;&nbsp; 4.50% 4/1/50 | 11906959 | 11751623 |
| &nbsp;&nbsp; 5.00% 7/1/47 | 15053992 | 15425047 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** |
| Federal National Mortgage Association (continued) | Federal National Mortgage Association (continued) | Federal National Mortgage Association (continued) |
| &nbsp;&nbsp; 5.00% 1/1/51 | 14914630 | $15042356 |
| &nbsp;&nbsp; 5.00% 8/1/53 | 5946224 | 5961702 |
| &nbsp;&nbsp; 5.50% 5/1/44 | 5878757 | 6117118 |
| &nbsp;&nbsp; 5.50% 8/1/52 | 8721429 | 8926641 |
| &nbsp;&nbsp; 5.50% 11/1/52 | 7683912 | 7838223 |
| &nbsp;&nbsp; 5.50% 7/1/53 | 8887104 | 8974646 |
| &nbsp;&nbsp; 6.00% 1/1/42 | 12226732 | 12884232 |
| &nbsp;&nbsp; 6.00% 7/1/53 | 11204310 | 11582285 |
| &nbsp;&nbsp; 6.50% 9/1/53 | 6851045 | 7142218 |
| Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| &nbsp;&nbsp; 3.00% 8/15/45 | 2466826 | 2229566 |
| &nbsp;&nbsp; 3.00% 12/20/51 | 11498713 | 10283791 |
| &nbsp;&nbsp; 5.00% 9/20/52 | 5833603 | 5837797 |
| &nbsp;&nbsp; 5.50% 10/15/42 | 7448417 | 7808857 |
| &nbsp;&nbsp; 5.50% 4/20/53 | 8496476 | 8480891 |
| &nbsp;&nbsp; 5.50% 7/20/53 | 10691887 | 10844102 |
| &nbsp;&nbsp; 5.50% 2/20/54 | 11935947 | 12102934 |
| Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
| &nbsp;&nbsp; 2.00% 10/20/55 | 60000000 | 49583362 |
| &nbsp;&nbsp; 2.50% 10/20/55 | 59000000 | 50785849 |
| &nbsp;&nbsp; 3.00% 10/20/55 | 16000000 | 14281219 |
| &nbsp;&nbsp; 3.50% 10/20/55 | 40000000 | 36464642 |
| &nbsp;&nbsp; 4.00% 10/20/55 | 21000000 | 19742077 |
| &nbsp;&nbsp; 4.50% 10/20/55 | 57000000 | 55267295 |
| &nbsp;&nbsp; 5.00% 10/20/54 | 40000000 | 39784767 |
| &nbsp;&nbsp; 5.50% 10/20/54 | 101000000 | 101751670 |
| &nbsp;&nbsp; 6.00% 10/20/54 | 95000000 | 96616289 |
| &nbsp;&nbsp; 6.50% 10/20/54 | 28000000 | 28756594 |
| Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
| &nbsp;&nbsp; 1.50% 10/1/40 | 10000000 | 8944727 |
| &nbsp;&nbsp; 1.50% 10/1/55 | 12000000 | 9211672 |
| &nbsp;&nbsp; 2.00% 10/1/55 | 135000000 | 108778189 |
| &nbsp;&nbsp; 5.00% 10/1/55 | 10000000 | 9916572 |
| &nbsp;&nbsp; 5.50% 10/1/54 | 77000000 | 77634324 |
| &nbsp;&nbsp; 6.00% 10/1/54 | 77000000 | 87526546 |
| &nbsp;&nbsp; 6.50% 10/1/54 | 51000000 | 52702568 |
| **Total Agency Mortgage-Backed Securities** <br>**(Cost $1,857,458,707)** | **Total Agency Mortgage-Backed Securities** <br>**(Cost $1,857,458,707)** | **1824537897** |
| **CORPORATE BONDS–29.11%** | **CORPORATE BONDS–29.11%** | **CORPORATE BONDS–29.11%** |
| **Aerospace & Defense–0.96%** | **Aerospace & Defense–0.96%** | **Aerospace & Defense–0.96%** |
| &nbsp;&nbsp; BAE Systems PLC 5.30% <br> 3/26/34<br>| 17745000 | 18388123 |
| Boeing Co. |  |  |
| &nbsp;&nbsp; 5.15% 5/1/30 | 7000000 | 7183089 |
| &nbsp;&nbsp; 6.86% 5/1/54 | 22541000 | 25712589 |
| &nbsp;&nbsp; 6.88% 3/15/39 | 4875000 | 5520441 |
|  |  | **56804242** |
| **Agriculture–0.31%** | **Agriculture–0.31%** | **Agriculture–0.31%** |
| &nbsp;&nbsp; BAT Capital Corp. 4.63% <br> 3/22/33<br>| 7330000 | 7253558 |
| &nbsp;&nbsp; Bunge Ltd. Finance Corp. <br> 4.20% 9/17/29<br>| 11394000 | 11354900 |
|  |  | **18608458** |
| **Airlines–0.10%** | **Airlines–0.10%** | **Airlines–0.10%** |
| &nbsp;&nbsp; AS Mileage Plan IP Ltd. 5.02% <br> 10/20/29<br>| 5800000 | 5803030 |
|  |  | **5803030** |

---

*LVIP Franklin Templeton Core Bond Fund–2*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Auto Manufacturers–0.27%** | **Auto Manufacturers–0.27%** | **Auto Manufacturers–0.27%** |
| &nbsp;&nbsp; General Motors Financial Co., <br> Inc. 5.63% 4/4/32<br>| 2777000 | $2866161 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp; 2.10% 9/15/28 | 5000000 | 4685853 |
| &nbsp;&nbsp; 4.50% 9/18/30 | 1870000 | 1861097 |
| &nbsp;&nbsp; 5.35% 3/19/29 | 6700000 | 6881471 |
|  |  | **16294582** |
| **Banks–9.34%** | **Banks–9.34%** | **Banks–9.34%** |
| μBank of America Corp. |  |  |
| &nbsp;&nbsp; 5.16% 1/24/31 | 8567000 | 8841875 |
| &nbsp;&nbsp; 5.52% 10/25/35 | 23067000 | 23627496 |
| &nbsp;&nbsp; 5.82% 9/15/29 | 8690000 | 9087092 |
| &nbsp;&nbsp; 6.20% 11/10/28 | 20477000 | 21339064 |
| &nbsp;&nbsp; 6.25% 7/26/30 | 14618000 | 14804768 |
| &nbsp;&nbsp; 6.63% 5/1/30 | 4781000 | 4974578 |
| &nbsp;&nbsp; μBank of Montreal 7.30% <br> 11/26/84<br>| 2160000 | 2292138 |
| &nbsp;&nbsp; μBank of New York Mellon <br> Corp.<br>|  |  |
| &nbsp;&nbsp; 4.94% 2/11/31 | 6667000 | 6847916 |
| &nbsp;&nbsp; 6.30% 3/20/30 | 5663000 | 5826327 |
| Citibank NA 5.44% 4/30/26 | 4457000 | 4487117 |
| μCitigroup, Inc. |  |  |
| &nbsp;&nbsp; 4.50% 9/11/31 | 5395000 | 5397916 |
| &nbsp;&nbsp; 6.02% 1/24/36 | 5612000 | 5879047 |
| &nbsp;&nbsp; 6.75% 2/15/30 | 6946000 | 7052038 |
| &nbsp;&nbsp; 6.88% 8/15/30 | 3736000 | 3850161 |
| &nbsp;&nbsp; 7.00% 8/15/34 | 4110000 | 4365437 |
| &nbsp;&nbsp; μCredit Agricole SA 5.22% <br> 5/27/31<br>| 5754000 | 5902628 |
| μDeutsche Bank AG |  |  |
| &nbsp;&nbsp; 5.30% 5/9/31 | 5544000 | 5679071 |
| &nbsp;&nbsp; 6.72% 1/18/29 | 5422000 | 5693854 |
| &nbsp;&nbsp; 6.82% 11/20/29 | 6519000 | 6973105 |
| &nbsp;&nbsp; 7.15% 7/13/27 | 5037000 | 5144802 |
| μGoldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp; 5.02% 10/23/35 | 9348000 | 9410153 |
| &nbsp;&nbsp; 5.22% 4/23/31 | 8731000 | 9028777 |
| &nbsp;&nbsp; 5.56% 11/19/45 | 7782000 | 7902067 |
| &nbsp;&nbsp; 6.48% 10/24/29 | 8074000 | 8592184 |
| &nbsp;&nbsp; μHuntington Bancshares, Inc. <br> 6.21% 8/21/29<br>| 7498000 | 7891177 |
| μJPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp; 5.01% 1/23/30 | 6455000 | 6612829 |
| &nbsp;&nbsp; 5.10% 4/22/31 | 7895000 | 8156482 |
| &nbsp;&nbsp; 5.14% 1/24/31 | 26673000 | 27546030 |
| &nbsp;&nbsp; 5.57% 4/22/28 | 6940000 | 7091578 |
| &nbsp;&nbsp; 5.57% 4/22/36 | 10320000 | 10877535 |
| &nbsp;&nbsp; 5.58% 7/23/36 | 6105000 | 6328944 |
| &nbsp;&nbsp; 6.25% 10/23/34 | 4064000 | 4478223 |
| &nbsp;&nbsp; μLloyds Banking Group PLC <br> 5.72% 6/5/30<br>| 4430000 | 4633158 |
| μM&T Bank Corp. 5.18% 7/8/31 | 4475000 | 4582876 |
| μMorgan Stanley |  |  |
| &nbsp;&nbsp; 2.48% 9/16/36 | 19146000 | 16630727 |
| &nbsp;&nbsp; 5.16% 4/20/29 | 11755000 | 12032789 |
| &nbsp;&nbsp; 5.19% 4/17/31 | 1388000 | 1433238 |
| &nbsp;&nbsp; 5.66% 4/17/36 | 5023000 | 5299567 |
| &nbsp;&nbsp; 5.83% 4/19/35 | 13390000 | 14274315 |
| &nbsp;&nbsp; 6.14% 10/16/26 | 21815000 | 21828887 |
| &nbsp;&nbsp; 6.30% 10/18/28 | 11176000 | 11646386 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| μMorgan Stanley (continued) |  |  |
| &nbsp;&nbsp; 6.41% 11/1/29 | 7055000 | $7498519 |
| &nbsp;&nbsp; μMorgan Stanley Private Bank <br> NA 4.73% 7/18/31<br>| 4142000 | 4203854 |
| &nbsp;&nbsp; μPNC Financial Services <br> Group, Inc.<br>|  |  |
| &nbsp;&nbsp; 4.90% 5/13/31 | 3557000 | 3632375 |
| &nbsp;&nbsp; 5.58% 1/29/36 | 4530000 | 4726610 |
| &nbsp;&nbsp; 5.68% 1/22/35 | 4841000 | 5105007 |
| &nbsp;&nbsp; 6.88% 10/20/34 | 7074000 | 8014508 |
| Popular, Inc. 7.25% 3/13/28 | 9000000 | 9402759 |
| &nbsp;&nbsp; μScotiabank Peru SAA 6.10% <br> 10/1/35<br>| 7562000 | 7860245 |
| State Street Corp. |  |  |
| &nbsp;&nbsp; 4.83% 4/24/30 | 3895000 | 3998659 |
| &nbsp;&nbsp; 4.99% 3/18/27 | 7188000 | 7298640 |
| Truist Bank |  |  |
| &nbsp;&nbsp; 3.30% 5/15/26 | 6594000 | 6555073 |
| μ4.63% 9/17/29 | 20076000 | 20226083 |
| &nbsp;&nbsp; μTruist Financial Corp. 4.95% <br> 10/6/25<br>| 6480000 | 6453330 |
| U.S. Bancorp |  |  |
| μ2.49% 11/3/36 | 4284000 | 3693241 |
| &nbsp;&nbsp; 3.95% 11/17/25 | 5681000 | 5677074 |
| μ4.65% 2/1/29 | 14825000 | 14988998 |
| μ5.05% 2/12/31 | 6676000 | 6847123 |
| μ5.38% 1/23/30 | 2283000 | 2360436 |
| μ5.42% 2/12/36 | 3599000 | 3726561 |
| μ5.68% 1/23/35 | 5083000 | 5351847 |
| μ5.73% 10/21/26 | 1264000 | 1264849 |
| μ6.79% 10/26/27 | 3430000 | 3521895 |
| μU.S. Bank NA 4.73% 5/15/28 | 6238000 | 6293244 |
| μUBS Group AG |  |  |
| &nbsp;&nbsp; 5.58% 5/9/36 | 6763000 | 7039658 |
| &nbsp;&nbsp; 6.85% 9/10/29 | 12828000 | 13228016 |
| μWells Fargo & Co. |  |  |
| &nbsp;&nbsp; 5.15% 4/23/31 | 7069000 | 7290266 |
| &nbsp;&nbsp; 5.24% 1/24/31 | 5156000 | 5334438 |
| &nbsp;&nbsp; 5.61% 4/23/36 | 9622000 | 10097819 |
|  |  | **556035479** |
| **Biotechnology–0.25%** | **Biotechnology–0.25%** | **Biotechnology–0.25%** |
| Royalty Pharma PLC |  |  |
| &nbsp;&nbsp; 1.75% 9/2/27 | 6297000 | 6016507 |
| &nbsp;&nbsp; 5.15% 9/2/29 | 5800000 | 5950879 |
| &nbsp;&nbsp; 5.20% 9/25/35 | 2775000 | 2772644 |
|  |  | **14740030** |
| **Building Materials–0.05%** | **Building Materials–0.05%** | **Building Materials–0.05%** |
| &nbsp;&nbsp; Carlisle Cos., Inc. 5.25% <br> 9/15/35<br>| 2735000 | 2768094 |
|  |  | **2768094** |
| **Computers–0.76%** | **Computers–0.76%** | **Computers–0.76%** |
| Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp; 4.05% 10/4/29 | 4580000 | 4575633 |
| &nbsp;&nbsp; 4.50% 10/4/34 | 10188000 | 10047651 |
| Gartner, Inc. 3.63% 6/15/29 | 8800000 | 8431774 |
| Leidos, Inc. |  |  |
| &nbsp;&nbsp; 5.40% 3/15/32 | 9078000 | 9430981 |
| &nbsp;&nbsp; 5.50% 3/15/35 | 12362000 | 12808586 |
|  |  | **45294625** |

---

*LVIP Franklin Templeton Core Bond Fund–3*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Diversified Financial Services–3.05%** | **Diversified Financial Services–3.05%** | **Diversified Financial Services–3.05%** |
| &nbsp;&nbsp; AerCap Ireland Capital <br> DAC/AerCap Global Aviation <br> Trust<br>|  |  |
| &nbsp;&nbsp; 2.45% 10/29/26 | 6530000 | $6415626 |
| &nbsp;&nbsp; 3.00% 10/29/28 | 18664000 | 17986357 |
| &nbsp;&nbsp; 5.10% 1/19/29 | 3836000 | 3926385 |
| Air Lease Corp. |  |  |
| &nbsp;&nbsp; 2.88% 1/15/26 | 20637000 | 20545797 |
| &nbsp;&nbsp; 3.00% 2/1/30 | 8421000 | 7841809 |
| μ4.13% 12/15/26 | 4377000 | 4230456 |
| &nbsp;&nbsp; 4.63% 10/1/28 | 3017000 | 3030914 |
| &nbsp;&nbsp; 5.10% 3/1/29 | 2182000 | 2215375 |
| Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp; 3.50% 11/1/27 | 14504000 | 14244292 |
| &nbsp;&nbsp; 4.80% 10/24/30 | 14878000 | 14864376 |
| &nbsp;&nbsp; 5.38% 7/15/29 | 6398000 | 6553362 |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp; 4.95% 10/15/32 | 10000000 | 9879266 |
| &nbsp;&nbsp; 5.75% 11/15/29 | 5800000 | 6025359 |
| &nbsp;&nbsp; μCapital One Financial Corp. <br> 4.49% 9/11/31<br>| 6490000 | 6437505 |
| &nbsp;&nbsp; Jane Street Group/JSG <br> Finance, Inc. 4.50% <br> 11/15/29<br>| 5800000 | 5662134 |
| &nbsp;&nbsp; Jefferies Financial Group, <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 2.63% 10/15/31 | 5411000 | 4812659 |
| &nbsp;&nbsp; 4.50% 9/15/26 | 8450000 | 8467539 |
| &nbsp;&nbsp; 6.45% 6/8/27 | 1613000 | 1669397 |
| &nbsp;&nbsp; 6.50% 1/20/43 | 4685000 | 5028787 |
| &nbsp;&nbsp; LPL Holdings, Inc. 5.20% <br> 3/15/30<br>| 8800000 | 8986245 |
| &nbsp;&nbsp; Macquarie Airfinance <br> Holdings Ltd. 6.40% 3/26/29<br>| 8800000 | 9267428 |
| &nbsp;&nbsp; OneMain Finance Corp. 7.13% <br> 9/15/32<br>| 5731000 | 5920340 |
| &nbsp;&nbsp; Rocket Cos., Inc. 6.38% <br> 8/1/33<br>| 7503000 | 7743951 |
|  |  | **181755359** |
| **Electric–3.13%** | **Electric–3.13%** | **Electric–3.13%** |
| AEP Texas, Inc. |  |  |
| &nbsp;&nbsp; 3.45% 1/15/50 | 1649000 | 1143024 |
| &nbsp;&nbsp; 4.15% 5/1/49 | 1397000 | 1091098 |
| &nbsp;&nbsp; 5.40% 6/1/33 | 2306000 | 2371444 |
| &nbsp;&nbsp; Alexander Funding Trust II <br> 7.47% 7/31/28<br>| 5800000 | 6201752 |
| &nbsp;&nbsp; μAmerican Electric Power Co., <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 5.80% 3/15/56 | 7975000 | 7947056 |
| &nbsp;&nbsp; 6.05% 3/15/56 | 2660000 | 2663741 |
| &nbsp;&nbsp; Appalachian Power Co. 3.70% <br> 5/1/50<br>| 2201000 | 1600954 |
| &nbsp;&nbsp; Atlantic City Electric Co. <br> 4.00% 10/15/28<br>| 1548000 | 1545139 |
| &nbsp;&nbsp; Constellation Energy <br> Generation LLC 5.75% <br> 3/15/54<br>| 7357000 | 7454335 |
| μDominion Energy, Inc. |  |  |
| &nbsp;&nbsp; 6.20% 2/15/56 | 3855000 | 3880226 |
| &nbsp;&nbsp; 6.63% 5/15/55 | 5046000 | 5222247 |
| &nbsp;&nbsp; 6.88% 2/1/55 | 6051000 | 6333425 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| DTE Energy Co. 5.10% 3/1/29 | 6466000 | $6625389 |
| &nbsp;&nbsp; Duke Energy Carolinas LLC <br> 4.95% 1/15/33<br>| 25751000 | 26474621 |
| &nbsp;&nbsp; Enel Finance International <br> NV 4.38% 9/30/30<br>| 6685000 | 6639534 |
| &nbsp;&nbsp; Entergy Texas, Inc. 3.55% <br> 9/30/49<br>| 3251000 | 2360480 |
| Exelon Corp. 5.45% 3/15/34 | 12010000 | 12465151 |
| &nbsp;&nbsp; NextEra Energy Capital <br> Holdings, Inc.<br>|  |  |
| &nbsp;&nbsp; 5.55% 3/15/54 | 6699000 | 6556544 |
| μ6.50% 8/15/55 | 2923000 | 3096234 |
| Oglethorpe Power Corp. |  |  |
| &nbsp;&nbsp; 3.75% 8/1/50 | 7469000 | 5390603 |
| &nbsp;&nbsp; 5.05% 10/1/48 | 5649000 | 5136732 |
| &nbsp;&nbsp; 6.20% 12/1/53 | 1589000 | 1672506 |
| μSempra 6.40% 10/1/54 | 14791000 | 15113296 |
| Southern Power Co. |  |  |
| &nbsp;&nbsp; 4.25% 10/1/30 | 2525000 | 2509774 |
| &nbsp;&nbsp; 4.90% 10/1/35 | 4550000 | 4487214 |
| &nbsp;&nbsp; Southwestern Electric Power <br> Co. 4.10% 9/15/28<br>| 16298000 | 16245622 |
| &nbsp;&nbsp; Virginia Electric & Power Co. <br> 4.90% 9/15/35<br>| 3250000 | 3232996 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp; 6.00% 4/15/34 | 2790000 | 2941516 |
| &nbsp;&nbsp; 6.95% 10/15/33 | 16079000 | 17933552 |
|  |  | **186336205** |
| **Electronics–0.10%** | **Electronics–0.10%** | **Electronics–0.10%** |
| &nbsp;&nbsp; Amphenol Corp. 2.20% <br> 9/15/31<br>| 6553000 | 5815378 |
|  |  | **5815378** |
| **Food–0.92%** | **Food–0.92%** | **Food–0.92%** |
| &nbsp;&nbsp; JBS USA Holding Lux <br> SARL/JBS USA Foods Group <br> Holdings, Inc./JBS USA Food <br> Co.<br>|  |  |
| &nbsp;&nbsp; 5.50% 1/15/36 | 6206000 | 6337629 |
| &nbsp;&nbsp; 6.25% 3/1/56 | 5804000 | 5951364 |
| Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp; 4.63% 10/1/39 | 1975000 | 1800672 |
| &nbsp;&nbsp; 6.88% 1/26/39 | 1975000 | 2203518 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp; 4.80% 3/1/30 | 8855000 | 9021272 |
| &nbsp;&nbsp; 5.20% 3/1/35 | 7795000 | 7967554 |
| &nbsp;&nbsp; 5.65% 5/1/45 | 5206000 | 5281103 |
| &nbsp;&nbsp; 5.70% 5/1/55 | 11828000 | 11981128 |
| Sysco Corp. 5.10% 9/23/30 | 4210000 | 4340511 |
|  |  | **54884751** |
| **Forest Products & Paper–0.10%** | **Forest Products & Paper–0.10%** | **Forest Products & Paper–0.10%** |
| &nbsp;&nbsp; Georgia-Pacific LLC 4.95% <br> 6/30/32<br>| 5800000 | 5950484 |
|  |  | **5950484** |
| **Health Care Products–0.10%** | **Health Care Products–0.10%** | **Health Care Products–0.10%** |
| &nbsp;&nbsp; GE HealthCare Technologies, <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 4.80% 1/15/31 | 2941000 | 2989287 |
| &nbsp;&nbsp; 5.50% 6/15/35 | 2882000 | 2987439 |
|  |  | **5976726** |

---

*LVIP Franklin Templeton Core Bond Fund–4*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Health Care Services–0.16%** | **Health Care Services–0.16%** | **Health Care Services–0.16%** |
| HCA, Inc. 5.45% 9/15/34 | 9458000 | $9701926 |
|  |  | **9701926** |
| **Insurance–1.32%** | **Insurance–1.32%** | **Insurance–1.32%** |
| &nbsp;&nbsp; Aon Corp./Aon Global <br> Holdings PLC<br>|  |  |
| &nbsp;&nbsp; 2.90% 8/23/51 | 11471000 | 7241275 |
| &nbsp;&nbsp; 5.00% 9/12/32 | 11257000 | 11586081 |
| Aon North America, Inc. |  |  |
| &nbsp;&nbsp; 5.30% 3/1/31 | 4626000 | 4818226 |
| &nbsp;&nbsp; 5.75% 3/1/54 | 1740000 | 1752321 |
| &nbsp;&nbsp; Athene Global Funding 5.54% <br> 8/22/35<br>| 4200000 | 4256253 |
| Athene Holding Ltd. |  |  |
| μ6.63% 10/15/54 | 5539000 | 5588768 |
| &nbsp;&nbsp; 6.63% 5/19/55 | 5790000 | 6196132 |
| μ6.88% 6/28/55 | 5279000 | 5407148 |
| &nbsp;&nbsp; Brown & Brown, Inc. 4.90% <br> 6/23/30<br>| 11700000 | 11857209 |
| &nbsp;&nbsp; Marsh & McLennan Cos., Inc. <br> 5.35% 11/15/44<br>| 11120000 | 11026558 |
| &nbsp;&nbsp; New York Life Global Funding <br> 5.45% 9/18/26<br>| 8900000 | 9025640 |
|  |  | **78755611** |
| **Internet–0.17%** | **Internet–0.17%** | **Internet–0.17%** |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp; 3.85% 8/15/32 | 6252000 | 6084048 |
| &nbsp;&nbsp; 5.40% 8/15/54 | 4229000 | 4178174 |
|  |  | **10262222** |
| **Investment Companies–0.46%** | **Investment Companies–0.46%** | **Investment Companies–0.46%** |
| &nbsp;&nbsp; Apollo Debt Solutions BDC <br> 6.70% 7/29/31<br>| 2735000 | 2898584 |
| &nbsp;&nbsp; Blackstone Private Credit <br> Fund 5.60% 11/22/29<br>| 4430000 | 4507743 |
| Blue Owl Credit Income Corp. |  |  |
| &nbsp;&nbsp; 5.80% 3/15/30 | 14339000 | 14540501 |
| &nbsp;&nbsp; 6.60% 9/15/29 | 5402000 | 5631917 |
|  |  | **27578745** |
| **Leisure Time–0.36%** | **Leisure Time–0.36%** | **Leisure Time–0.36%** |
| Carnival Corp. |  |  |
| &nbsp;&nbsp; 5.13% 5/1/29 | 7960000 | 7960000 |
| &nbsp;&nbsp; 5.75% 3/15/30 | 8800000 | 8984677 |
| &nbsp;&nbsp; Royal Caribbean Cruises Ltd. <br> 5.38% 1/15/36<br>| 4115000 | 4138997 |
|  |  | **21083674** |
| **Machinery Construction & Mining–0.22%** | **Machinery Construction & Mining–0.22%** | **Machinery Construction & Mining–0.22%** |
| &nbsp;&nbsp; Caterpillar, Inc. 5.20% <br> 5/15/35<br>| 7092000 | 7337447 |
| &nbsp;&nbsp; Vertiv Group Corp. 4.13% <br> 11/15/28<br>| 6019000 | 5877430 |
|  |  | **13214877** |
| **Media–0.41%** | **Media–0.41%** | **Media–0.41%** |
| &nbsp;&nbsp; Charter Communications <br> Operating LLC/Charter <br> Communications Operating <br> Capital 3.85% 4/1/61<br>| 6859000 | 4275079 |
| Time Warner Cable LLC |  |  |
| &nbsp;&nbsp; 6.75% 6/15/39 | 5494000 | 5747935 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp; Time Warner <br> Cable LLC (continued)<br>|  |  |
| &nbsp;&nbsp; 7.30% 7/1/38 | 13330000 | $14565573 |
|  |  | **24588587** |
| **Mining–0.07%** | **Mining–0.07%** | **Mining–0.07%** |
| &nbsp;&nbsp; AngloGold Ashanti Holdings <br> PLC 6.50% 4/15/40<br>| 3991000 | 4213180 |
|  |  | **4213180** |
| **Miscellaneous Manufacturing–0.13%** | **Miscellaneous Manufacturing–0.13%** | **Miscellaneous Manufacturing–0.13%** |
| Siemens Funding BV |  |  |
| &nbsp;&nbsp; 4.60% 5/28/30 | 3375000 | 3435724 |
| &nbsp;&nbsp; 4.90% 5/28/32 | 4256000 | 4365435 |
|  |  | **7801159** |
| **Office Business Equipment–0.35%** | **Office Business Equipment–0.35%** | **Office Business Equipment–0.35%** |
| &nbsp;&nbsp; CDW LLC/CDW Finance Corp. <br> 3.28% 12/1/28<br>| 21449000 | 20718674 |
|  |  | **20718674** |
| **Oil & Gas–0.94%** | **Oil & Gas–0.94%** | **Oil & Gas–0.94%** |
| &nbsp;&nbsp; BP Capital Markets America, <br> Inc. 2.72% 1/12/32<br>| 6635000 | 6016825 |
| &nbsp;&nbsp; μBP Capital Markets PLC <br> 4.88% 3/22/30<br>| 5343000 | 5305236 |
| &nbsp;&nbsp; ConocoPhillips Co. 5.05% <br> 9/15/33<br>| 15116000 | 15576538 |
| &nbsp;&nbsp; EOG Resources, Inc. 5.00% <br> 7/15/32<br>| 11176000 | 11435219 |
| &nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp <br> Finance Co.<br>|  |  |
| &nbsp;&nbsp; 6.00% 2/1/31 | 3306000 | 3183877 |
| &nbsp;&nbsp; 6.25% 4/15/32 | 3146000 | 3018111 |
| &nbsp;&nbsp; Petroleos Mexicanos 6.75% <br> 9/21/47<br>| 4103000 | 3386230 |
| &nbsp;&nbsp; Viper Energy Partners LLC <br> 4.90% 8/1/30<br>| 1945000 | 1959237 |
| &nbsp;&nbsp; Woodside Finance Ltd. 5.70% <br> 5/19/32<br>| 6010000 | 6239890 |
|  |  | **56121163** |
| **Oil & Gas Services–0.07%** | **Oil & Gas Services–0.07%** | **Oil & Gas Services–0.07%** |
| &nbsp;&nbsp; Guara Norte SARL 5.20% <br> 6/15/34<br>| 4350826 | 4260929 |
|  |  | **4260929** |
| **Pipelines–1.53%** | **Pipelines–1.53%** | **Pipelines–1.53%** |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp; 5.25% 4/5/27 | 6220000 | 6314065 |
| &nbsp;&nbsp; 5.55% 6/20/35 | 5622000 | 5797763 |
| μ5.75% 7/15/80 | 2722000 | 2748167 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp; 6.10% 12/1/28 | 5955000 | 6265810 |
| μ6.50% 11/15/26 | 14595000 | 14649439 |
| &nbsp;&nbsp; Enterprise Products <br> Operating LLC<br>|  |  |
| &nbsp;&nbsp; 4.60% 1/15/31 | 6046000 | 6108711 |
| &nbsp;&nbsp; 4.95% 2/15/35 | 4293000 | 4328686 |
| &nbsp;&nbsp; 5.35% 1/31/33 | 5147000 | 5379047 |
| &nbsp;&nbsp; Greensaif Pipelines Bidco <br> SARL 6.51% 2/23/42<br>| 3557000 | 3846828 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp; 5.05% 11/1/34 | 2703000 | 2665644 |

---

*LVIP Franklin Templeton Core Bond Fund–5*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| ONEOK, Inc. (continued) |  |  |
| &nbsp;&nbsp; 5.70% 11/1/54 | 4421000 | $4173735 |
| &nbsp;&nbsp; Targa Resources <br> Partners LP/Targa <br> Resources Partners Finance <br> Corp. 5.00% 1/15/28<br>| 10782000 | 10794049 |
| &nbsp;&nbsp; Tennessee Gas Pipeline Co. <br> LLC 2.90% 3/1/30<br>| 12788000 | 11977312 |
| &nbsp;&nbsp; Venture Global Calcasieu <br> Pass LLC 3.88% 11/1/33<br>| 6969000 | 6279242 |
|  |  | **91328498** |
| **Real Estate Investment Trusts–0.72%** | **Real Estate Investment Trusts–0.72%** | **Real Estate Investment Trusts–0.72%** |
| American Tower Corp. |  |  |
| &nbsp;&nbsp; 2.90% 1/15/30 | 8800000 | 8294359 |
| &nbsp;&nbsp; 4.90% 3/15/30 | 980000 | 999346 |
| &nbsp;&nbsp; Crown Castle, Inc. 4.90% <br> 9/1/29<br>| 8800000 | 8926411 |
| &nbsp;&nbsp; Extra Space Storage LP 5.40% <br> 2/1/34<br>| 10576000 | 10883135 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp; 4.95% 2/15/30 | 7877000 | 7968363 |
| &nbsp;&nbsp; 5.63% 4/1/35 | 3192000 | 3268320 |
| &nbsp;&nbsp; VICI Properties LP/VICI <br> Note Co., Inc. 4.63% 12/1/29<br>| 2690000 | 2663505 |
|  |  | **43003439** |
| **Retail–0.15%** | **Retail–0.15%** | **Retail–0.15%** |
| Home Depot, Inc. |  |  |
| &nbsp;&nbsp; 4.88% 6/25/27 | 2379000 | 2418374 |
| &nbsp;&nbsp; 4.95% 6/25/34 | 6238000 | 6387563 |
|  |  | **8805937** |
| **Semiconductors–0.50%** | **Semiconductors–0.50%** | **Semiconductors–0.50%** |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp; 3.14% 11/15/35 | 3000 | 2595 |
| &nbsp;&nbsp; 4.90% 7/15/32 | 3019000 | 3088400 |
| &nbsp;&nbsp; 5.05% 7/12/29 | 9289000 | 9568467 |
| &nbsp;&nbsp; 5.20% 7/15/35 | 3758000 | 3872999 |
| Entegris, Inc. 4.75% 4/15/29 | 5393000 | 5346743 |
| &nbsp;&nbsp; Foundry JV Holdco LLC 6.10% <br> 1/25/36<br>| 7202000 | 7651424 |
|  |  | **29530628** |
| **Software–0.56%** | **Software–0.56%** | **Software–0.56%** |
| MSCI, Inc. 3.63% 9/1/30 | 8800000 | 8399239 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp; 4.45% 9/26/30 | 3530000 | 3528268 |
| &nbsp;&nbsp; 4.80% 9/26/32 | 4725000 | 4730682 |
| &nbsp;&nbsp; Roper Technologies, Inc. <br> 4.90% 10/15/34<br>| 12476000 | 12490193 |
| Synopsys, Inc. 5.70% 4/1/55 | 4188000 | 4226658 |
|  |  | **33375040** |
| **Telecommunications–1.55%** | **Telecommunications–1.55%** | **Telecommunications–1.55%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp; 3.50% 9/15/53 | 15749000 | 10893630 |
| &nbsp;&nbsp; 5.38% 8/15/35 | 2799000 | 2882769 |
| &nbsp;&nbsp; 6.05% 8/15/56 | 2781000 | 2882574 |
| &nbsp;&nbsp; 6.30% 1/15/38 | 4110000 | 4473031 |
| Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp; 5.30% 2/15/34 | 10060000 | 10205724 |
| μ7.13% 4/15/55 | 5800000 | 6148946 |
| Softbank Corp. 4.70% 7/9/30 | 9969000 | 10045053 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp; Sprint Capital Corp. 6.88% <br> 11/15/28<br>| 8800000 | $9465705 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp; 3.00% 2/15/41 | 5883000 | 4420622 |
| &nbsp;&nbsp; 3.75% 4/15/27 | 12092000 | 12020111 |
| &nbsp;&nbsp; 5.13% 5/15/32 | 2471000 | 2543049 |
| &nbsp;&nbsp; 5.75% 1/15/34 | 3046000 | 3227601 |
| &nbsp;&nbsp; 5.88% 11/15/55 | 7594000 | 7756996 |
| &nbsp;&nbsp; Verizon Communications, Inc. <br> 5.25% 4/2/35<br>| 5010000 | 5094738 |
|  |  | **92060549** |
| **Total Corporate Bonds** <br>**(Cost $1,720,266,194)** | **Total Corporate Bonds** <br>**(Cost $1,720,266,194)** | **1733472281** |
| **NON-AGENCY ASSET-BACKED SECURITIES–7.54%** | **NON-AGENCY ASSET-BACKED SECURITIES–7.54%** | **NON-AGENCY ASSET-BACKED SECURITIES–7.54%** |
| &nbsp;&nbsp; •Apex Credit CLO LLC Series <br> 2021-2A Class A1AR 5.41% <br> (3 mo. USD Term SOFR + <br> 1.18%) 10/20/34<br>| 28324000 | 28338162 |
| &nbsp;&nbsp; •ARES LXV CLO Ltd. Series <br> 2022-65A Class A1R 5.28% (3 <br> mo. USD Term SOFR + <br> 1.12%) 7/25/34<br>| 29000000 | 29066584 |
| &nbsp;&nbsp; •Black Diamond CLO DAC <br> Series 2017-2A Class A2 <br> 5.89% (3 mo. USD Term <br> SOFR + 1.56%) 1/20/32<br>| 21509 | 21509 |
| &nbsp;&nbsp; •Carlyle U.S. CLO Ltd. Series <br> 2020-2A Class A1R2 5.30% (3 <br> mo. USD Term SOFR + <br> 1.08%) 1/25/35<br>| 27000000 | 27028350 |
| &nbsp;&nbsp; •Catamaran CLO Ltd. Series <br> 2014-1A Class A1BR 5.98% <br> (3 mo. USD Term SOFR + <br> 1.65%) 4/22/30<br>| 10184000 | 10201802 |
| •CIFC Funding Ltd. | •CIFC Funding Ltd. | •CIFC Funding Ltd. |
| &nbsp;&nbsp;&nbsp; Series 2021-7A Class AR <br> 5.32% (3 mo. USD Term <br> SOFR + 1.09%) 1/23/35<br>| 24382000 | 24405992 |
| &nbsp;&nbsp;&nbsp; Series 2022-4A Class BR <br> 5.83% (3 mo. USD Term <br> SOFR + 1.55%) 7/16/35<br>| 4700000 | 4702350 |
| &nbsp;&nbsp; DataBank Issuer LLC Series <br> 2021-1A Class A2 2.06% <br> 2/27/51<br>| 7763000 | 7668986 |
| &nbsp;&nbsp; Diamond Infrastructure <br> Funding LLC Series 2021-1A <br> Class A 1.76% 4/15/49<br>| 24025000 | 23041325 |
| &nbsp;&nbsp; •FIGRE Trust Series 2025-HE5 <br> Class A 5.29% 8/25/55<br>| 3768932 | 3783166 |
| &nbsp;&nbsp; Ford Credit Auto Owner Trust <br> Series 2024-B Class A3 5.10% <br> 4/15/29<br>| 12787000 | 12975639 |
| &nbsp;&nbsp; Frontier Issuer LLC Series <br> 2024-1 Class A2 6.19% <br> 6/20/54<br>| 6393000 | 6589415 |
| &nbsp;&nbsp; GM Financial Automobile <br> Leasing Trust Series 2024-1 <br> Class A3 5.09% 3/22/27<br>| 8392961 | 8419871 |

---

*LVIP Franklin Templeton Core Bond Fund–6*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; GMF Floorplan Owner <br> Revolving Trust Series <br> 2024-1A Class A1 5.13% <br> 3/15/29<br>| 26486000 | $26897886 |
| &nbsp;&nbsp; φGS Mortgage-Backed <br> Securities Trust Series <br> 2025-CES2 Class A1 5.18% <br> 9/25/55<br>| 4013000 | 4013040 |
| &nbsp;&nbsp; •ICG U.S. CLO Ltd. Series <br> 2014-1A Class A1A2 5.79% (3 <br> mo. USD Term SOFR + <br> 1.46%) 10/20/34<br>| 3653000 | 3657121 |
| &nbsp;&nbsp; •KKR CLO 41 Ltd. Series <br> 2022-41A Class A1 5.65% (3 <br> mo. USD Term SOFR + <br> 1.33%) 4/15/35<br>| 5115000 | 5119900 |
| •Neuberger Berman Loan Advisers CLO 48 Ltd. | •Neuberger Berman Loan Advisers CLO 48 Ltd. | •Neuberger Berman Loan Advisers CLO 48 Ltd. |
| &nbsp;&nbsp;&nbsp; Series 2022-48A Class A1R <br> 5.41% (3 mo. USD Term <br> SOFR + 1.09%) 4/25/36<br>| 29400000 | 29413054 |
| &nbsp;&nbsp;&nbsp; Series 2022-48A Class A2R <br> 5.77% (3 mo. USD Term <br> SOFR + 1.45%) 4/25/36<br>| 2000000 | 2000882 |
| &nbsp;&nbsp; •Octagon Investment Partners <br> 51 Ltd. Series 2021-1A <br> Class AR 5.32% (3 mo. USD <br> Term SOFR + 0.99%) <br> 7/20/34<br>| 10047000 | 10059338 |
| &nbsp;&nbsp; PK Alift Loan Funding 7 LP <br> Series 2025-2 Class A 4.75% <br> 3/15/43<br>| 3015000 | 3015407 |
| &nbsp;&nbsp; Porsche Innovative Lease <br> Owner Trust Series 2024-1A <br> Class A3 4.67% 11/22/27<br>| 18267000 | 18360279 |
| &nbsp;&nbsp; •Regatta XIX Funding Ltd. <br> Series 2022-1A Class A1 <br> 5.65% (3 mo. USD Term <br> SOFR + 1.32%) 4/20/35<br>| 2740000 | 2740493 |
| &nbsp;&nbsp; •Rockford Tower CLO Ltd. <br> Series 2021-2A Class A2R <br> 5.66% (3 mo. USD Term <br> SOFR + 1.50%) 7/20/34<br>| 2700000 | 2700977 |
| &nbsp;&nbsp; Santander Drive Auto <br> Receivables Trust Series <br> 2025-1 Class D 5.43% <br> 3/17/31<br>| 7078000 | 7183483 |
| &nbsp;&nbsp; •Signal Peak CLO 5 Ltd. Series <br> 2018-5A Class A1R 5.87% (3 <br> mo. USD Term SOFR + <br> 1.55%) 4/25/37<br>| 3653000 | 3665592 |
| &nbsp;&nbsp; •Steele Creek CLO Ltd. Series <br> 2017-1A Class A 5.83% (3 <br> mo. USD Term SOFR + <br> 1.51%) 10/15/30<br>| 452241 | 452368 |
| &nbsp;&nbsp; •Towd Point Mortgage Trust <br> Series 2025-HE2 Class A1A <br> 5.69% (30 day USD SOFR <br> Average + 1.35%) 9/25/65<br>| 8231000 | 8231082 |
| &nbsp;&nbsp; Toyota Auto Receivables <br> Owner Trust Series 2024-B <br> Class A3 5.33% 1/16/29<br>| 26098000 | 26495298 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; •Trinitas CLO XIV Ltd. Series <br> 2020-14A Class A1R2 5.33% <br> (3 mo. USD Term SOFR + <br> 1.10%) 1/25/34<br>| 29000000 | $28999536 |
| &nbsp;&nbsp; •Trinitas CLO XVII Ltd. Series <br> 2021-17A Class B1R 5.81% (3 <br> mo. USD Term SOFR + <br> 1.65%) 10/20/34<br>| 14700000 | 14713671 |
| &nbsp;&nbsp; •Venture 34 CLO Ltd. Series <br> 2018-34A Class AR 5.60% (3 <br> mo. USD Term SOFR + <br> 1.28%) 10/15/31<br>| 4344727 | 4346573 |
| &nbsp;&nbsp; •Venture 42 CLO Ltd. Series <br> 2021-42A Class A1A 5.71% (3 <br> mo. USD Term SOFR + <br> 1.39%) 4/15/34<br>| 13700000 | 13708713 |
| &nbsp;&nbsp; Verizon Master Trust Series <br> 2024-3 Class A1A 5.34% <br> 4/22/30<br>| 15527000 | 15867166 |
| &nbsp;&nbsp; Volkswagen Auto Lease Trust <br> Series 2024-A Class A3 5.21% <br> 6/21/27<br>| 31053000 | 31328092 |
| **Total Non-Agency Asset-Backed Securities** <br>**(Cost $448,044,476)** | **Total Non-Agency Asset-Backed Securities** <br>**(Cost $448,044,476)** | **449213102** |
| **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–3.26%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–3.26%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–3.26%** |
| &nbsp;&nbsp; φA&D Mortgage Trust Series <br> 2024-NQM1 Class A1 6.20% <br> 2/25/69<br>| 5841999 | 5893705 |
| •Agate Bay Mortgage Trust | •Agate Bay Mortgage Trust | •Agate Bay Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2015-1 Class B1 3.63% <br> 1/25/45<br>| 403210 | 394219 |
| &nbsp;&nbsp;&nbsp; Series 2015-1 Class B2 3.63% <br> 1/25/45<br>| 249481 | 243918 |
| &nbsp;&nbsp; •Cascade Funding Mortgage <br> Trust Series 2025-HB16 <br> Class A 3.00% 3/25/35<br>| 2567408 | 2512816 |
| &nbsp;&nbsp; •Chase Home Lending <br> Mortgage Trust Series <br> 2025-10 Class A11 5.67% (30 <br> day USD SOFR Average + <br> 1.30%) 7/25/56<br>| 5346100 | 5346125 |
| &nbsp;&nbsp; =•Citigroup Mortgage Loan <br> Trust Series 2025-4 <br> Class A28 5.61% (30 day USD <br> SOFR Average + 1.30%) <br> 10/25/55<br>| 8927000 | 8926966 |
| &nbsp;&nbsp; φDeephaven Residential <br> Mortgage Trust Series <br> 2024-1 Class A1 5.74% <br> 7/25/69<br>| 6257460 | 6312120 |
| &nbsp;&nbsp; •EFMT Series 2025-NQM4 <br> Class A1F 5.56% (30 day <br> USD SOFR Average + 1.20%) <br> 9/25/70<br>| 20613765 | 20610121 |
| •GS Mortgage-Backed Securities Trust | •GS Mortgage-Backed Securities Trust | •GS Mortgage-Backed Securities Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-PJ7 Class A2 <br> 2.50% 1/25/52<br>| 8867495 | 7350322 |
| &nbsp;&nbsp;&nbsp; Series 2021-PJ8 Class A2 <br> 2.50% 1/25/52<br>| 12062480 | 9998664 |

---

*LVIP Franklin Templeton Core Bond Fund–7*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| •GS Mortgage-Backed Securities Trust (continued) | •GS Mortgage-Backed Securities Trust (continued) | •GS Mortgage-Backed Securities Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2021-PJ9 Class A2 <br> 2.50% 2/26/52<br>| 13740395 | $11389499 |
| &nbsp;&nbsp;&nbsp; Series 2025-PJ8 Class A27 <br> 5.69% (30 day USD SOFR <br> Average + 1.30%) 2/25/56<br>| 2397000 | 2396790 |
| JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2014-2 Class B1 3.38% <br> 6/25/29<br>| 588553 | 571232 |
| &nbsp;&nbsp;&nbsp; •Series 2014-2 Class B2 3.38% <br> 6/25/29<br>| 219277 | 212824 |
| &nbsp;&nbsp;&nbsp; •Series 2015-1 Class B2 5.66% <br> 12/25/44<br>| 758868 | 758089 |
| &nbsp;&nbsp;&nbsp; •Series 2015-4 Class B1 3.51% <br> 6/25/45<br>| 1023299 | 954016 |
| &nbsp;&nbsp;&nbsp; •Series 2015-4 Class B2 3.51% <br> 6/25/45<br>| 802363 | 748039 |
| &nbsp;&nbsp;&nbsp; •Series 2015-5 Class B2 5.93% <br> 5/25/45<br>| 108954 | 107763 |
| &nbsp;&nbsp;&nbsp; •Series 2015-6 Class B1 3.51% <br> 10/25/45<br>| 718653 | 694807 |
| &nbsp;&nbsp;&nbsp; •Series 2015-6 Class B2 3.51% <br> 10/25/45<br>| 608901 | 587469 |
| &nbsp;&nbsp;&nbsp; •Series 2015-6 Class B3 3.51% <br> 10/25/45<br>| 1001097 | 894003 |
| &nbsp;&nbsp;&nbsp; •Series 2016-4 Class B1 3.78% <br> 10/25/46<br>| 896444 | 846818 |
| &nbsp;&nbsp;&nbsp; •Series 2016-4 Class B2 3.78% <br> 10/25/46<br>| 1641433 | 1550564 |
| &nbsp;&nbsp;&nbsp; •Series 2017-1 Class B3 3.45% <br> 1/25/47<br>| 3173806 | 2883799 |
| &nbsp;&nbsp;&nbsp; •Series 2017-2 Class A3 3.50% <br> 5/25/47<br>| 269055 | 242803 |
| &nbsp;&nbsp;&nbsp; •Series 2020-2 Class A3 3.50% <br> 7/25/50<br>| 356600 | 318933 |
| &nbsp;&nbsp;&nbsp; •Series 2020-7 Class A3 3.00% <br> 1/25/51<br>| 1582781 | 1368050 |
| &nbsp;&nbsp;&nbsp; •Series 2021-1 Class A3 2.50% <br> 6/25/51<br>| 2770441 | 2296436 |
| &nbsp;&nbsp;&nbsp; •Series 2021-10 Class A3 <br> 2.50% 12/25/51<br>| 5858983 | 4856547 |
| &nbsp;&nbsp;&nbsp; •Series 2021-11 Class A3 <br> 2.50% 1/25/52<br>| 9886546 | 8195020 |
| &nbsp;&nbsp;&nbsp; •Series 2021-12 Class A3 <br> 2.50% 2/25/52<br>| 12792860 | 10604081 |
| &nbsp;&nbsp;&nbsp; •Series 2021-13 Class A3 <br> 2.50% 4/25/52<br>| 12801438 | 10611191 |
| &nbsp;&nbsp;&nbsp; φSeries 2024-VIS2 Class A1 <br> 5.85% 11/25/64<br>| 2249719 | 2278077 |
| &nbsp;&nbsp; φMill City Mortgage Loan Trust <br> Series 2023-NQM2 Class A1 <br> 6.24% 12/25/67<br>| 4669166 | 4675629 |
| •Morgan Stanley Residential Mortgage Loan Trust | •Morgan Stanley Residential Mortgage Loan Trust | •Morgan Stanley Residential Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp; Series 2020-1 Class A2A <br> 2.50% 12/25/50<br>| 3864369 | 3166850 |
| &nbsp;&nbsp;&nbsp; Series 2021-1 Class A2 2.50% <br> 3/25/51<br>| 2694115 | 2233169 |
| &nbsp;&nbsp;&nbsp; Series 2021-4 Class A3 2.50% <br> 7/25/51<br>| 2765405 | 2292261 |
| &nbsp;&nbsp;&nbsp; Series 2021-5 Class A3 2.50% <br> 8/25/51<br>| 8874779 | 7356359 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| &nbsp;&nbsp; •New Residential Mortgage <br> Loan Trust Series 2018-RPL1 <br> Class A1 3.50% 12/25/57<br>| 490298 | $475451 |
| &nbsp;&nbsp; •OBX Trust Series 2025-J2 <br> Class AF 5.66% (30 day USD <br> SOFR Average + 1.30%) <br> 9/25/55<br>| 11965539 | 11988648 |
| &nbsp;&nbsp; •PMT Loan Trust Series <br> 2025-J2 Class A11 5.71% (30 <br> day USD SOFR Average + <br> 1.35%) 8/25/56<br>| 1549447 | 1553296 |
| &nbsp;&nbsp; •Radian Mortgage Capital <br> Trust Series 2025-J3 <br> Class A25 5.86% (30 day USD <br> SOFR Average + 1.50%) <br> 12/25/55<br>| 5951186 | 5974853 |
| •RCKT Mortgage Trust | •RCKT Mortgage Trust | •RCKT Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-1 Class A1 2.50% <br> 3/25/51<br>| 2804318 | 2324516 |
| &nbsp;&nbsp;&nbsp; Series 2021-4 Class A1 2.50% <br> 9/25/51<br>| 13248289 | 10981589 |
| &nbsp;&nbsp;&nbsp; Series 2021-6 Class A1 2.50% <br> 12/25/51<br>| 5911489 | 4900070 |
| •Sequoia Mortgage Trust | •Sequoia Mortgage Trust | •Sequoia Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2013-4 Class B2 3.43% <br> 4/25/43<br>| 291922 | 281851 |
| &nbsp;&nbsp;&nbsp; Series 2015-1 Class B2 3.94% <br> 1/25/45<br>| 487563 | 474769 |
| &nbsp;&nbsp;&nbsp; Series 2020-4 Class A2 2.50% <br> 11/25/50<br>| 2296293 | 1889702 |
| &nbsp;&nbsp; •Towd Point Mortgage Trust <br> Series 2018-1 Class A1 3.00% <br> 1/25/58<br>| 179792 | 178160 |
| &nbsp;&nbsp; •Wells Fargo Mortgage-Backed <br> Securities Trust Series <br> 2020-1 Class A1 3.00% <br> 12/25/49<br>| 545793 | 468766 |
| **Total Non-Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $217,655,460)** | **Total Non-Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $217,655,460)** | **194171765** |
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–8.16%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–8.16%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–8.16%** |
| Bank | Bank | Bank |
| &nbsp;&nbsp;&nbsp; •Series 2017-BNK5 Class B <br> 3.90% 6/15/60<br>| 3731000 | 3599024 |
| &nbsp;&nbsp;&nbsp; Series 2019-BN20 Class A3 <br> 3.01% 9/15/62<br>| 5625000 | 5269088 |
| &nbsp;&nbsp;&nbsp; Series 2019-BN21 Class A5 <br> 2.85% 10/17/52<br>| 11462000 | 10757912 |
| &nbsp;&nbsp;&nbsp; Series 2020-BN25 Class A5 <br> 2.65% 1/15/63<br>| 36533000 | 33680306 |
| &nbsp;&nbsp;&nbsp; •Series 2022-BNK40 Class B <br> 3.50% 3/15/64<br>| 8083000 | 7102078 |
| &nbsp;&nbsp; \*•Bank5 Series 2025-5YR17 <br> Class XA 1.40% 11/15/58<br>| 57539000 | 2935036 |
| BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2020-C7 Class A5 <br> 2.04% 4/15/53<br>| 16970000 | 15093374 |
| &nbsp;&nbsp;&nbsp; \*•Series 2025-5C37 Class XA <br> 1.66% 9/15/58<br>| 76785000 | 5374336 |

---

*LVIP Franklin Templeton Core Bond Fund–8*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2018-B1 Class A5 <br> 3.67% 1/15/51<br>| 1220000 | $1202012 |
| &nbsp;&nbsp;&nbsp; Series 2020-B17 Class A5 <br> 2.29% 3/15/53<br>| 21463000 | 19236152 |
| &nbsp;&nbsp;&nbsp; Series 2020-B19 Class A5 <br> 1.85% 9/15/53<br>| 27498000 | 24161981 |
| &nbsp;&nbsp;&nbsp; Series 2020-B20 Class A5 <br> 2.03% 10/15/53<br>| 20185000 | 17745726 |
| &nbsp;&nbsp;&nbsp; Series 2020-B22 Class A5 <br> 1.97% 1/15/54<br>| 22240000 | 19376687 |
| &nbsp;&nbsp;&nbsp; Series 2021-B24 Class A5 <br> 2.58% 3/15/54<br>| 6059000 | 5403318 |
| &nbsp;&nbsp;&nbsp; Series 2021-B25 Class A5 <br> 2.58% 4/15/54<br>| 12905000 | 11532753 |
| &nbsp;&nbsp;&nbsp; •Series 2022-B32 Class B <br> 3.20% 1/15/55<br>| 8220000 | 6866761 |
| &nbsp;&nbsp;&nbsp; •Series 2022-B32 Class C <br> 3.57% 1/15/55<br>| 10047000 | 7875389 |
| &nbsp;&nbsp;&nbsp; •Series 2022-B33 Class B <br> 3.73% 3/15/55<br>| 4064000 | 3543716 |
| &nbsp;&nbsp;&nbsp; •Series 2022-B33 Class C <br> 3.73% 3/15/55<br>| 4064000 | 3222357 |
| &nbsp;&nbsp;&nbsp; •Series 2022-B34 Class A5 <br> 3.79% 4/15/55<br>| 4325866 | 4028031 |
| &nbsp;&nbsp;&nbsp; •Series 2022-B35 Class A5 <br> 4.59% 5/15/55<br>| 13924000 | 13613848 |
| &nbsp;&nbsp;&nbsp; •Series 2022-B36 Class A5 <br> 4.47% 7/15/55<br>| 7284000 | 7143997 |
| &nbsp;&nbsp;&nbsp; \*•Series 2025-V17 Class XA <br> 1.51% 9/15/58<br>| 63769000 | 4135381 |
| BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2022-C1 Class A5 <br> 3.37% 2/15/55<br>| 3247000 | 3005467 |
| &nbsp;&nbsp;&nbsp; \*•Series 2025-5C12 Class XA <br> 1.66% 10/15/58<br>| 50546000 | 3186203 |
| Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending |
| &nbsp;&nbsp;&nbsp; Series 2019-CF1 Class A5 <br> 3.79% 5/15/52<br>| 14871000 | 14517680 |
| &nbsp;&nbsp;&nbsp; Series 2019-CF2 Class A5 <br> 2.87% 11/15/52<br>| 5434000 | 5098022 |
| &nbsp;&nbsp;&nbsp; Series 2019-CF3 Class A4 <br> 3.01% 1/15/53<br>| 12010000 | 11237733 |
| CD Mortgage Trust | CD Mortgage Trust | CD Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2016-CD2 Class A3 <br> 3.25% 11/10/49<br>| 8802813 | 8715325 |
| &nbsp;&nbsp;&nbsp; •Series 2017-CD6 Class B <br> 3.91% 11/13/50<br>| 2760000 | 2633411 |
| &nbsp;&nbsp;&nbsp; Series 2019-CD8 Class A4 <br> 2.91% 8/15/57<br>| 14682000 | 13577071 |
| &nbsp;&nbsp; CFCRE Commercial Mortgage <br> Trust Series 2016-C7 <br> Class A3 3.84% 12/10/54<br>| 6475000 | 6403965 |
| Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2016-P3 Class A4 <br> 3.33% 4/15/49<br>| 7213000 | 7148087 |
| &nbsp;&nbsp;&nbsp; Series 2017-C4 Class A4 <br> 3.47% 10/12/50<br>| 17298000 | 17001915 |
| &nbsp;&nbsp;&nbsp; Series 2019-C7 Class A4 <br> 3.10% 12/15/72<br>| 10872000 | 10285335 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| Citigroup Commercial Mortgage Trust (continued) | Citigroup Commercial Mortgage Trust (continued) | Citigroup Commercial Mortgage Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2020-555 Class A <br> 2.65% 12/10/41<br>| 6119000 | $5529291 |
| &nbsp;&nbsp; COMM Mortgage Trust Series <br> 2016-CR28 Class A4 3.76% <br> 2/10/49<br>| 6626807 | 6615218 |
| DB-JPM Mortgage Trust | DB-JPM Mortgage Trust | DB-JPM Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2016-C1 Class A4 <br> 3.28% 5/10/49<br>| 4188000 | 4155484 |
| &nbsp;&nbsp;&nbsp; Series 2020-C9 Class A5 <br> 1.93% 8/15/53<br>| 10275000 | 9125351 |
| &nbsp;&nbsp;&nbsp; Series 2020-C9 Class B 2.57% <br> 8/15/53<br>| 2968000 | 2523183 |
| &nbsp;&nbsp; Grace Trust Series <br> 2020-GRCE Class A 2.35% <br> 12/10/40<br>| 8503000 | 7546113 |
| GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp; Series 2017-GS6 Class A3 <br> 3.43% 5/10/50<br>| 13609000 | 13397767 |
| &nbsp;&nbsp;&nbsp; •Series 2018-GS9 Class B <br> 4.32% 3/10/51<br>| 2875000 | 2667172 |
| &nbsp;&nbsp;&nbsp; Series 2019-GC39 Class A4 <br> 3.57% 5/10/52<br>| 2200000 | 2068521 |
| &nbsp;&nbsp;&nbsp; Series 2019-GC42 Class A4 <br> 3.00% 9/10/52<br>| 18267000 | 17133989 |
| &nbsp;&nbsp;&nbsp; Series 2020-GC47 Class A5 <br> 2.38% 5/12/53<br>| 13015000 | 11885509 |
| JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp; Series 2013-LC11 Class B <br> 3.50% 4/15/46<br>| 1352470 | 1239868 |
| &nbsp;&nbsp;&nbsp; Series 2015-JP1 Class A5 <br> 3.91% 1/15/49<br>| 7047262 | 7005733 |
| &nbsp;&nbsp;&nbsp; Series 2016-JP2 Class A4 <br> 2.82% 8/15/49<br>| 9731000 | 9550559 |
| &nbsp;&nbsp; JPM-BB Commercial <br> Mortgage Securities Trust <br> Series 2015-C33 Class A4 <br> 3.77% 12/15/48<br>| 8645433 | 8623689 |
| JPM-DB Commercial Mortgage Securities Trust | JPM-DB Commercial Mortgage Securities Trust | JPM-DB Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp; Series 2016-C2 Class A4 <br> 3.14% 6/15/49<br>| 10755000 | 10433381 |
| &nbsp;&nbsp;&nbsp; Series 2016-C4 Class A3 <br> 3.14% 12/15/49<br>| 6530000 | 6407105 |
| &nbsp;&nbsp;&nbsp; Series 2017-C7 Class A5 <br> 3.41% 10/15/50<br>| 3854000 | 3763882 |
| &nbsp;&nbsp; Morgan Stanley Bank of <br> America Merrill Lynch Trust <br> Series 2015-C26 Class A5 <br> 3.53% 10/15/48<br>| 1115254 | 1109270 |
| &nbsp;&nbsp; Morgan Stanley Capital I <br> Trust Series 2019-L3 <br> Class A4 3.13% 11/15/52<br>| 5845000 | 5513015 |
| Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2016-BNK1 Class A3 <br> 2.65% 8/15/49<br>| 7211000 | 7097221 |
| &nbsp;&nbsp;&nbsp; Series 2020-C58 Class A4 <br> 2.09% 7/15/53<br>| 2991000 | 2660120 |

---

*LVIP Franklin Templeton Core Bond Fund–9*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| Wells Fargo Commercial Mortgage Trust (continued) | Wells Fargo Commercial Mortgage Trust (continued) | Wells Fargo Commercial Mortgage Trust (continued) |
| &nbsp;&nbsp;&nbsp; \*•Series 2025-5C6 Class XA <br> 1.58% 10/15/58<br>| 76020600 | $4432913 |
| **Total Non-Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $531,348,793)** | **Total Non-Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $531,348,793)** | **486193831** |
| **SUPRANATIONAL BANKS–0.23%** | **SUPRANATIONAL BANKS–0.23%** | **SUPRANATIONAL BANKS–0.23%** |
| &nbsp;&nbsp; Africa Finance Corp. 5.55% <br> 10/8/29<br>| 5393000 | 5506410 |
| &nbsp;&nbsp; μAfrican Development Bank <br> 5.75% 5/7/34<br>| 5914000 | 5949029 |
| &nbsp;&nbsp; μCorp. Andina de Fomento <br> 6.75% 6/17/30<br>| 2384000 | 2463625 |
| **Total Supranational Banks** <br>**(Cost $13,528,552)** | **Total Supranational Banks** <br>**(Cost $13,528,552)** | **13919064** |
| **U.S. TREASURY OBLIGATIONS–16.58%** | **U.S. TREASURY OBLIGATIONS–16.58%** | **U.S. TREASURY OBLIGATIONS–16.58%** |
| U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
| &nbsp;&nbsp; 2.25% 8/15/46 | 77191000 | 51500870 |
| &nbsp;&nbsp; 4.13% 8/15/44 | 6850000 | 6358191 |
| &nbsp;&nbsp; 4.63% 11/15/44 | 180122000 | 178447427 |
| &nbsp;&nbsp; 4.75% 5/15/55 | 170848000 | 171381900 |
| &nbsp;&nbsp; 5.00% 5/15/45 | 96927000 | 100652632 |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp; 3.88% 7/15/28 | 13577000 | 13665039 |
| &nbsp;&nbsp; 3.88% 6/30/30 | 207855000 | 209129735 |
| &nbsp;&nbsp; 4.25% 5/15/35 | 241339000 | 243563844 |
| &nbsp;&nbsp; 4.63% 9/30/28 | 12262000 | 12606869 |
| **Total U.S. Treasury Obligations** <br>**(Cost $995,883,267)** | **Total U.S. Treasury Obligations** <br>**(Cost $995,883,267)** | **987306507** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Number of** <br>**Shares**<br>|  |
| **COMMON STOCK–0.01%** | **COMMON STOCK–0.01%** | **COMMON STOCK–0.01%** |
| †MNSN Holdings, Inc. | 8379 | 502739 |
| **Total Common Stock** <br>**(Cost $0)** | **Total Common Stock** <br>**(Cost $0)** | **502739** |
| **MONEY MARKET FUND–0.33%** | **MONEY MARKET FUND–0.33%** | **MONEY MARKET FUND–0.33%** |
| &nbsp;&nbsp; State Street Institutional <br> U.S. Government Money <br> Market Fund - Premier Class <br> (seven-day effective yield <br> 4.09%)<br>| 19458861 | 19458861 |
| **Total Money Market Fund** <br>**(Cost $19,458,861)** | **Total Money Market Fund** <br>**(Cost $19,458,861)** | **19458861** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount°**<br>|  |
| **SHORT-TERM INVESTMENTS—13.82%** | **SHORT-TERM INVESTMENTS—13.82%** | **SHORT-TERM INVESTMENTS—13.82%** |
| **Certificates of Deposit–0.17%** | **Certificates of Deposit–0.17%** | **Certificates of Deposit–0.17%** |
| &nbsp;&nbsp; Credit Agricole Corporate & <br> Investment Bank SA 4.09% <br> 10/23/25<br>| 10000000 | 10000000 |
|  |  | **10000000** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |
| **Discounted Commercial Paper–13.65%** | **Discounted Commercial Paper–13.65%** | **Discounted Commercial Paper–13.65%** |
| ≠ABN AMRO Funding USA LLC | ≠ABN AMRO Funding USA LLC | ≠ABN AMRO Funding USA LLC |
| &nbsp;&nbsp; 4.15% 10/1/25 | 35000000 | $35000000 |
| &nbsp;&nbsp; 4.16% 10/1/25 | 53000000 | 53000000 |
| ≠Atlantic Asset Securitization LLC | ≠Atlantic Asset Securitization LLC | ≠Atlantic Asset Securitization LLC |
| &nbsp;&nbsp; 4.15% 10/1/25 | 53197000 | 53197000 |
| ≠Barclays Bank PLC | ≠Barclays Bank PLC | ≠Barclays Bank PLC |
| &nbsp;&nbsp; 4.20% 10/1/25 | 30000000 | 30000000 |
| &nbsp;&nbsp; 4.40% 11/6/25 | 6280000 | 6252996 |
| ≠Bedford Row Funding Corp. | ≠Bedford Row Funding Corp. | ≠Bedford Row Funding Corp. |
| &nbsp;&nbsp; 4.15% 10/7/25 | 25000000 | 24982958 |
| ≠BNP Paribas SA | ≠BNP Paribas SA | ≠BNP Paribas SA |
| &nbsp;&nbsp; 4.21% 10/9/25 | 5000000 | 4995400 |
| &nbsp;&nbsp; 4.39% 11/7/25 | 8500000 | 8462522 |
| ≠CAFCO LLC | ≠CAFCO LLC | ≠CAFCO LLC |
| &nbsp;&nbsp; 4.17% 10/1/25 | 12377000 | 12377000 |
| ≠Canada | ≠Canada | ≠Canada |
| &nbsp;&nbsp; 4.16% 10/22/25 | 5000000 | 4988071 |
| ≠Canadian Imperial Bank of Commerce | ≠Canadian Imperial Bank of Commerce | ≠Canadian Imperial Bank of Commerce |
| &nbsp;&nbsp; 4.16% 10/2/25 | 50000000 | 49994305 |
| &nbsp;&nbsp; 4.17% 10/1/25 | 50000000 | 50000000 |
| &nbsp;&nbsp; 4.17% 10/7/25 | 20000000 | 19986300 |
| ≠Cooperatieve Rabobank UA | ≠Cooperatieve Rabobank UA | ≠Cooperatieve Rabobank UA |
| &nbsp;&nbsp; 4.15% 10/2/25 | 35000000 | 34996024 |
| ≠Credit Agricole Corporate & Investment Bank SA | ≠Credit Agricole Corporate & Investment Bank SA | ≠Credit Agricole Corporate & Investment Bank SA |
| &nbsp;&nbsp; 4.14% 10/1/25 | 50000000 | 50000000 |
| &nbsp;&nbsp; 4.15% 10/2/25 | 25000000 | 24997160 |
| ≠Gotham Funding Corp. | ≠Gotham Funding Corp. | ≠Gotham Funding Corp. |
| &nbsp;&nbsp; 4.17% 10/14/25 | 25000000 | 24962986 |
| &nbsp;&nbsp; 4.21% 10/1/25 | 20000000 | 20000000 |
| ≠Liberty Street Funding LLC | ≠Liberty Street Funding LLC | ≠Liberty Street Funding LLC |
| &nbsp;&nbsp; 4.32% 10/1/25 | 9000000 | 9000000 |
| &nbsp;&nbsp; 4.36% 11/21/25 | 38960000 | 38724876 |
| ≠Manhattan Asset Funding Co. LLC | ≠Manhattan Asset Funding Co. LLC | ≠Manhattan Asset Funding Co. LLC |
| &nbsp;&nbsp; 4.16% 10/1/25 | 30000000 | 30000000 |
| &nbsp;&nbsp; 4.18% 10/14/25 | 50000000 | 49925792 |
| ≠Matchpoint Finance PLC | ≠Matchpoint Finance PLC | ≠Matchpoint Finance PLC |
| &nbsp;&nbsp; 4.16% 10/1/25 | 19420000 | 19420000 |
| ≠Nestle Finance International Ltd. | ≠Nestle Finance International Ltd. | ≠Nestle Finance International Ltd. |
| &nbsp;&nbsp; 4.36% 10/1/25 | 20000000 | 20000000 |
| ≠NRW Bank | ≠NRW Bank | ≠NRW Bank |
| &nbsp;&nbsp; 4.14% 10/9/25 | 50000000 | 49954666 |
| ≠Swedbank AB | ≠Swedbank AB | ≠Swedbank AB |
| &nbsp;&nbsp; 4.08% 3/6/26 | 8000000 | 7861974 |
| ≠Toronto-Dominion Bank | ≠Toronto-Dominion Bank | ≠Toronto-Dominion Bank |
| &nbsp;&nbsp; 4.22% 10/27/25 | 35000000 | 34895097 |
| ≠Victory Receivables Corp. | ≠Victory Receivables Corp. | ≠Victory Receivables Corp. |
| &nbsp;&nbsp; 4.14% 10/3/25 | 20000000 | 19995467 |
| &nbsp;&nbsp; 4.16% 10/7/25 | 25000000 | 24982917 |
|  |  | **812953511** |
| **Total Short-Term** <br> **Investments** <br>**(Cost $822,994,778)**<br>|  | **822953511** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **TOTAL INVESTMENTS–113.78% (Cost $6,869,434,733)** | **6775559877** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(13.78%)** | **(820345022)**<br>|
| **NET ASSETS APPLICABLE TO 496,247,831 SHARES OUTSTANDING–100.00%** | **$5955214855** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*LVIP Franklin Templeton Core Bond Fund–10*

------

**LVIP Franklin Templeton Core Bond Fund**

**Schedule of Investments (continued)**

------

---

| |
|:---|
| °Principal amount shown is stated in U.S. dollars unless noted that the security is denominated in another currency. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; •Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at September 30, 2025. For securities based on a <br> published reference rate and spread, the reference rate and spread are indicated in their description above and may be subject to caps <br> and/or floors or include a multiplier. Certain variable rate securities are not based on a published reference rate and spread but are <br> determined by the issuer or agent and are based on current market conditions such as changes in current interest rate and prepayments <br> on the underlying pool of assets. These securities do not indicate a reference rate and spread in their description above. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ♦Pass Through Agreement. Security represents the contractual right to receive a proportionate amount of underlying payments due to the <br> counterparty pursuant to various agreements related to the rescheduling of obligations and the exchange of certain notes. |
| μFixed to variable rate investment. The rate shown reflects the fixed rate in effect at September 30, 2025. Rate will reset at a future date. |
| φStep coupon bond. Coupon increases/decreases periodically based on predetermined schedule. Stated rate in effect at September 30, 2025. |
| =The value of this security was determined using significant unobservable inputs. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*Interest only security. An interest only security is the interest only portion of a fixed income security which is sold separately from the <br> principal portion of the security. |
| †Non-income producing. |
| ≠The rate shown is the effective yield at the time of purchase. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The following futures contracts were outstanding at September 30, 2025:<br>

**Futures Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy (Sell)** | **Contracts to Buy (Sell)** | **Notional** <br>**Amount**<br>| **Notional** <br>**Cost (Proceeds)**<br>| **Expiration** <br>**Date**<br>| **Value/** <br>**Unrealized** <br>**Appreciation**<sup>1</sup> <br>| **Value/** <br>**Unrealized** <br>**Depreciation**<sup>1</sup> <br>|
| **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** |
| (8526) | CBOT 10 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; $(959175000)<br>| &nbsp;&nbsp; $(964070232)<br>| &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; $4895232 | &nbsp;&nbsp; $— |
| (303) | CBOT 2 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; (63144727)<br>| &nbsp;&nbsp; (63289127)<br>| &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 144400 | &nbsp;&nbsp; — |
| 12141 | CBOT 5 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; 1325740295 | &nbsp;&nbsp; 1331636122 | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (5895827)<br>|
| 65 | CBOT U.S. Long Bond Futures | &nbsp;&nbsp; 7578594 | &nbsp;&nbsp; 7645726 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (67132)<br>|
| 2891 | Ultra 10 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; 332690859 | &nbsp;&nbsp; 335478010 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2787151)<br>|
| 741 | Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp; 88966313 | &nbsp;&nbsp; 89873640 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (907327)<br>|
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | &nbsp;&nbsp; $5039632 | &nbsp;&nbsp; $(9657437)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The use of futures contracts involves elements of market risk and risks in excess of the amounts recognized in the financial statements. The <br> notional amounts presented above represent the Fund's total exposure in such contracts, whereas only the net unrealized appreciation <br> (depreciation) is reflected in the Fund's net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Includes cumulative appreciation (depreciation) of futures contracts from the date the contracts were opened through September 30, 2025.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Summary of Abbreviations:** |
| BMO–Bank of Montreal  |
| BNP–BNP Paribas |
| CBOT–Chicago Board of Trade |
| CLO–Collateralized Loan Obligation |
| DB-JPM–Deutsche Bank JPMorgan |
| FREMF–Freddie Mac Multifamily |
| GS–Goldman Sachs |
| JPM-BB–JPMorgan Barclays Bank |
| JPM-DB–JPMorgan Deutsche Bank |
| REMIC–Real Estate Mortgage Investment Conduits |
| SOFR–Secured Overnight Financing Rate |
| STACR–Structured Agency Credit Risk |
| TBA–To be announced |

---

*LVIP Franklin Templeton Core Bond Fund–11*

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

- **b. Investment Company Act file number:** 811-08090

- **c. CIK number of Registrant:** 0000914036

- **d. LEI of Registrant:** 3EICVM5HD7FVBIM8WO57

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

  - **Street Address 1:** 1301 S. Harrison Street

  - **City:** FORT WAYNE

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46802

  - **Telephone number:** 260-455-2000

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

- **a. Name of Series:** LVIP Franklin Templeton Core Bond Fund

- **b. EDGAR series identifier (if any):** S000002812

- **c. LEI of Series:** TX5WPE5J86ZXCTSWEQ14

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

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

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $7047480150.30

**Total Liabilities:** $1094139909.38

**Net Assets:** $5953340240.92

**Delayed Delivery Securities:** $17763303.28

**Cash Not Reported:** $24592742.91

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -8160.67000000 | **1-Year:** -182623.36000000 | **5-Year:** -526084.47000000 | **10-Year:** -428186.10000000 | **30-Year:** -144500.74000000

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

- **3-Month:** -383.22000000 | **1-Year:** -9355.89000000 | **5-Year:** -20365.30000000 | **10-Year:** -11789.44000000 | **30-Year:** -6134.10000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007721 | -0.25%               | 1.23%                | 1.03%                |
| Class ID C000007720 | -0.22%               | 1.26%                | 1.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-27810869.64            | $-2182447.99                               |
| Month 2  | $-17063751.20            | $65178231.55                               |
| Month 3  | $-5797914.35             | $53650673.00                               |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate Bond Index

- **Index Identifier:** LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JPMORGAN CHASE & CO                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PFC5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   6105000 | PA      | $6328943.61   | 0.11%             | 2036-07-23      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| MARS INC                                               | Mars Inc                                                                        | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   7795000 | PA      | $7967554.25   | 0.13%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                                  | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  19146000 | PA      | $16630726.61  | 0.28%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                   | Bank of America Corp                                                            | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   8567000 | PA      | $8841874.77   | 0.15%             | 2031-01-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae II Pool                                                              | CUSIP: 36179WTZ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  11498713 | PA      | $10283790.61  | 0.17%             | 2051-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                          | Boeing Co/The                                                                   | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |  22541000 | PA      | $25712588.58  | 0.43%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                       | LPL Holdings Inc                                                                | CUSIP: 50212YAL8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   8800000 | PA      | $8986244.96   | 0.15%             | 2030-03-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                | Jefferies Financial Group Inc                                                   | CUSIP: 472319AE2<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   1613000 | PA      | $1669396.85   | 0.03%             | 2027-06-08      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Catamaran CLO Ltd                                      | Catamaran CLO 2014-1 Ltd                                                        | CUSIP: 14889DAL2<br>LEI: 549300C8Q7ISEHHDRH76 | Long             | ABS-CBDO         | CORP              | KY        |  10184000 | PA      | $10201801.63  | 0.17%             | 2030-04-22      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                     | Meta Platforms Inc                                                              | CUSIP: 30303M8H8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   6252000 | PA      | $6084047.71   | 0.10%             | 2032-08-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XH5W3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  56064253 | PA      | $47304816.77  | 0.79%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                    | GS Mortgage-Backed Securities Trust 2021-PJ8                                    | CUSIP: 36262WAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12062480 | PA      | $9998664.13   | 0.17%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                                 | AngloGold Ashanti Holdings PLC                                                  | CUSIP: 03512TAB7<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |   3991000 | PA      | $4213179.57   | 0.07%             | 2040-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                     | BMO 2025-5C12 Mortgage Trust                                                    | CUSIP: 09663VAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  50546000 | PA      | $3186202.49   | 0.05%             | 2058-10-15      | Variable      | 1.66%                 | No            |                  2 | On Loan: No      |
| BARCLAYS US CCP                                        | Barclays Bank PLC                                                               | CUSIP: 06741FY68<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | STIV             | CORP              | US        |   6280000 | PA      | $6252996.00   | 0.11%             | 2025-11-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                             | US Bancorp                                                                      | CUSIP: 91159HHU7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   5681000 | PA      | $5677073.58   | 0.10%             | 2025-11-17      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                               | CUSIP: 3136AWPE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2356497 | PA      | $2162082.49   | 0.04%             | 2047-05-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                         | Air Lease Corp                                                                  | CUSIP: 00914AAG7<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   8421000 | PA      | $7841809.18   | 0.13%             | 2030-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                                    | Frontier Issuer LLC                                                             | CUSIP: 35910EAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6393000 | PA      | $6589414.70   | 0.11%             | 2054-06-20      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                               | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3306000 | PA      | $3183877.02   | 0.05%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PEB8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   6455000 | PA      | $6612829.07   | 0.11%             | 2030-01-23      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   7895000 | PA      | $8156481.93   | 0.14%             | 2031-04-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Gold Pool                                                           | CUSIP: 31335BZT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6017009 | PA      | $6268120.35   | 0.11%             | 2041-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                                | Morgan Stanley Private Bank NA                                                  | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |   4142000 | PA      | $4203853.60   | 0.07%             | 2031-07-18      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Trust 2015-6                                                          | CUSIP: 46645GAZ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    608901 | PA      | $587468.89    | 0.01%             | 2045-10-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                 | Roper Technologies Inc                                                          | CUSIP: 776696AJ5<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |  12476000 | PA      | $12490192.82  | 0.21%             | 2034-10-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                      | EOG Resources Inc                                                               | CUSIP: 26875PAY7<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |  11176000 | PA      | $11435218.60  | 0.19%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TBA MERRILL LYNCH BOC                                  | TBA MERRILL LYNCH BOC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     61000 | NS      | $61000.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                               | CUSIP: 3136BS2J3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7801054 | PA      | $7824789.36   | 0.13%             | 2054-07-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                                         | PMT Loan Trust 2025-J2                                                          | CUSIP: 69392TAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1549447 | PA      | $1553296.25   | 0.03%             | 2056-08-25      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                    | GS Mortgage-Backed Securities Trust 2021-PJ7                                    | CUSIP: 36262CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8867495 | PA      | $7350321.72   | 0.12%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                                 | VICI Properties LP / VICI Note Co Inc                                           | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              |  | US        |   2690000 | PA      | $2663505.25   | 0.04%             | 2029-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Bank5                                                  | BANK5 2025-5YR17                                                                | CUSIP: 06211GAM8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  57539000 | PA      | $2935035.62   | 0.05%             | 2058-11-15      | Variable      | 1.40%                 | No            |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                  | Oglethorpe Power Corp                                                           | CUSIP: 677050AQ9<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | DBT              | CORP              | US        |   7469000 | PA      | $5390603.39   | 0.09%             | 2050-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC            | BBCMS Mortgage Trust 2020-C7                                                    | CUSIP: 05492VAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16970000 | PA      | $15093374.25  | 0.25%             | 2053-04-15      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                          | DTE Energy Co                                                                   | CUSIP: 233331BK2<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |   6466000 | PA      | $6625388.78   | 0.11%             | 2029-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                 | BP Capital Markets PLC                                                          | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   5343000 | PA      | $5305235.68   | 0.09%             | 2030-03-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XCPG7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  26218051 | PA      | $24144580.60  | 0.41%             | 2036-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MNSN Holdings Inc                                      | MNSN Holdings Inc                                                               | CUSIP: 55339C109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8379 | NS      | $502740.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140X72U2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3093428 | PA      | $3168902.09   | 0.05%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Time Warner Cable LLC                                  | Time Warner Cable LLC                                                           | CUSIP: 88732JAN8<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |  13330000 | PA      | $14565572.76  | 0.24%             | 2038-07-01      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133BMRK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2138235 | PA      | $2179946.68   | 0.04%             | 2052-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132E0CW0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  31086632 | PA      | $28598551.77  | 0.48%             | 2049-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                  | Wells Fargo & Co                                                                | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   9622000 | PA      | $10097818.68  | 0.17%             | 2036-04-23      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                   | Bank of America Corp                                                            | CUSIP: 06051GLC1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  20477000 | PA      | $21339064.09  | 0.36%             | 2028-11-10      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust             | JPMBB Commercial Mortgage Securities Trust 2015-C33                             | CUSIP: 46645JAD4<br>LEI: 549300UOGMFS1M8XVM16 | Long             | ABS-MBS          | CORP              | US        |   8645433 | PA      | $8623688.95   | 0.14%             | 2048-12-15      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                      | State Street Corp                                                               | CUSIP: 857477DB6<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   3895000 | PA      | $3998659.23   | 0.07%             | 2030-04-24      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XGP86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  23918583 | PA      | $22177193.18  | 0.37%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENTERGY TEXAS INC                                      | Entergy Texas Inc                                                               | CUSIP: 29365TAJ3<br>LEI: LWXX58X12AJXISQ28573 | Long             | DBT              | CORP              | US        |   3251000 | PA      | $2360480.49   | 0.04%             | 2049-09-30      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2014-2                                                 | CUSIP: 46641YAP8<br>LEI: 549300BV8AJIRLDGMR51 | Long             | ABS-MBS          | CORP              | US        |    588553 | PA      | $571232.46    | 0.01%             | 2029-06-25      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140KYPB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5284002 | PA      | $4329808.66   | 0.07%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                 | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2923000 | PA      | $3096234.52   | 0.05%             | 2055-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                                   | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4110000 | PA      | $4365436.50   | 0.07%             | 2034-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GA46<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   8074000 | PA      | $8592183.99   | 0.14%             | 2029-10-24      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                 | Rockford Tower CLO 2021-2 Ltd                                                   | CUSIP: 77341LAS8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2700000 | PA      | $2700977.40   | 0.05%             | 2034-07-20      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| GOTHAM FUNDING CORP                                    | Gotham Funding Corp                                                             | CUSIP: 38346LX19<br>LEI: 549300Z2ZR7VTUMRPR17 | Long             | STIV             | CORP              | US        |  20000000 | PA      | $20000000.00  | 0.34%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AFRICAN DEVELOPMENT BANK                               | African Development Bank                                                        | CUSIP: 008281BF3<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | NUSS              | XX        |   5914000 | PA      | $5949028.62   | 0.10%             | 2034-05-07      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                  | Athene Global Funding                                                           | CUSIP: 04685A4S7<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4256252.78   | 0.07%             | 2035-08-22      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DNFT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3089341 | PA      | $2780894.16   | 0.05%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140L2PU1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6202938 | PA      | $5083218.47   | 0.09%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XCB80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    906083 | PA      | $773466.50    | 0.01%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                       | T-Mobile USA Inc                                                                | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |  12092000 | PA      | $12020111.49  | 0.20%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR REMIC Trust 2021-HQA2                                         | CUSIP: 35564KFV6<br>LEI: 5493000ISM9M3KNO6J64 | Long             | ABS-MBS          | USGSE             | US        |  18127098 | PA      | $18561608.33  | 0.31%             | 2033-12-25      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                   | Bank of America Corp                                                            | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4781000 | PA      | $4974577.91   | 0.08%             | 2030-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TRUIST BANK                                            | Truist Bank                                                                     | CUSIP: 86787GAJ1<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   6594000 | PA      | $6555073.44   | 0.11%             | 2026-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                              | CUSIP: 3137HLBG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14216961 | PA      | $14232515.68  | 0.24%             | 2055-05-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                      | Brown & Brown Inc                                                               | CUSIP: 115236AK7<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |  11700000 | PA      | $11857209.39  | 0.20%             | 2030-06-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20755TAC5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  11307000 | PA      | $11306953.64  | 0.19%             | 2045-05-25      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                            | Exelon Corp                                                                     | CUSIP: 30161NBN0<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |  12010000 | PA      | $12465150.90  | 0.21%             | 2034-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                               | CUSIP: 3136BTS53<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1488710 | PA      | $1487581.06   | 0.02%             | 2054-12-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC            | BBCMS Mortgage Trust 2025-5C37                                                  | CUSIP: 05494NAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  76785000 | PA      | $5374335.72   | 0.09%             | 2058-09-15      | Variable      | 1.66%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                           | Broadcom Inc                                                                    | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2595.50      | 0.00%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                           | Ford Credit Auto Owner Trust 2024-B                                             | CUSIP: 34531QAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12787000 | PA      | $12975638.94  | 0.22%             | 2029-04-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140X9XJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5878757 | PA      | $6117118.29   | 0.10%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2021-11                                                | CUSIP: 46654KAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9886546 | PA      | $8195019.55   | 0.14%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| TBA CITIBANK BOC                                       | TBA CITIBANK BOC                                                                | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -452000 | NS      | $-452000.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust         | Morgan Stanley Residential Mortgage Loan Trust 2021-1                           | CUSIP: 61772AAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2694115 | PA      | $2233168.89   | 0.04%             | 2051-03-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| NOMURA TBA COC                                         | NOMURA TBA COC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -255000 | NS      | $-255000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418D3X8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  40800117 | PA      | $33007105.78  | 0.55%             | 2051-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                               | Rogers Communications Inc                                                       | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   5800000 | PA      | $6148945.98   | 0.10%             | 2055-04-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2021-B25 Mortgage Trust                                               | CUSIP: 08163DAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12905000 | PA      | $11532753.28  | 0.19%             | 2054-04-15      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                               | Enterprise Products Operating LLC                                               | CUSIP: 29379VCK7<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   6046000 | PA      | $6108710.99   | 0.10%             | 2031-01-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR INC                                        | Caterpillar Inc                                                                 | CUSIP: 149123CL3<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |   7092000 | PA      | $7337447.60   | 0.12%             | 2035-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | U.S. Treasury Notes                                                             | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 241339000 | PA      | $243563843.91 | 4.09%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                  | Foundry JV Holdco LLC                                                           | CUSIP: 350930AH6<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   7202000 | PA      | $7651423.89   | 0.13%             | 2036-01-25      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KPY85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  23462279 | PA      | $23488510.89  | 0.39%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                               | AT&T Inc                                                                        | CUSIP: 00206RAG7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   4110000 | PA      | $4473030.87   | 0.08%             | 2038-01-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140X8LV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  13949852 | PA      | $11397802.38  | 0.19%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                                 | Bunge Ltd Finance Corp                                                          | CUSIP: 120568BE9<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |  11394000 | PA      | $11354900.69  | 0.19%             | 2029-09-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                               | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   6530000 | PA      | $6415625.61   | 0.11%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                    | Citigroup Commercial Mortgage Trust 2020-555                                    | CUSIP: 17328EAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6119000 | PA      | $5529291.17   | 0.09%             | 2041-12-10      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae I Pool                                                               | CUSIP: 3622ABDD1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2466826 | PA      | $2229566.11   | 0.04%             | 2045-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                               | Rogers Communications Inc                                                       | CUSIP: 775109DF5<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |  10060000 | PA      | $10205723.63  | 0.17%             | 2034-02-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                   | Bank of America Corp                                                            | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  14618000 | PA      | $14804767.61  | 0.25%             | 2030-07-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                 | Blue Owl Credit Income Corp                                                     | CUSIP: 09581CAB7<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   5402000 | PA      | $5631917.01   | 0.09%             | 2029-09-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                 | PNC Financial Services Group Inc/The                                            | CUSIP: 693475CC7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   4530000 | PA      | $4726610.06   | 0.08%             | 2036-01-29      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XLYF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  11204310 | PA      | $11582285.36  | 0.19%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BMO 2022-C1 Mortgage Trust                             | BMO 2022-C1 Mortgage Trust                                                      | CUSIP: 05609MCC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3247000 | PA      | $3005466.71   | 0.05%             | 2055-02-15      | Variable      | 3.37%                 | No            |                  2 | On Loan: No      |
| TBA STATE STREET BANK BOC                              | TBA STATE STREET BANK BOC                                                       | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |  -7438000 | NS      | $-7438000.00  | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| AVIATION CAPITAL GROUP                                 | Aviation Capital Group LLC                                                      | CUSIP: 05369AAA9<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |  14504000 | PA      | $14244291.52  | 0.24%             | 2027-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2021-1                                                 | CUSIP: 46592EAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2770441 | PA      | $2296435.83   | 0.04%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                       | T-Mobile USA Inc                                                                | CUSIP: 87264ADC6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   3046000 | PA      | $3227601.36   | 0.05%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | U.S. Treasury Bonds                                                             | CUSIP: 912810RT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  77191000 | PA      | $51500870.31  | 0.87%             | 2046-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                             | US Bancorp                                                                      | CUSIP: 91159HJP6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   3430000 | PA      | $3521895.29   | 0.06%             | 2027-10-26      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2021-13                                                | CUSIP: 46592XAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12801438 | PA      | $10611191.14  | 0.18%             | 2052-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                    | American Tower Corp                                                             | CUSIP: 03027XCN8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    980000 | PA      | $999346.01    | 0.02%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                           | CD 2019-CD8 Mortgage Trust                                                      | CUSIP: 12515BAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14682000 | PA      | $13577070.85  | 0.23%             | 2057-08-15      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DPXE3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  20711881 | PA      | $21176632.58  | 0.36%             | 2053-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                          | AEP Texas Inc                                                                   | CUSIP: 00108WAR1<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |   2306000 | PA      | $2371443.80   | 0.04%             | 2033-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                    | COMM 2016-CR28 Mortgage Trust                                                   | CUSIP: 12593YBE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6626807 | PA      | $6615217.85   | 0.11%             | 2049-02-10      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust           | Wells Fargo Mortgage Backed Securities 2020-1 Trust                             | CUSIP: 95002KAA1<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |    545793 | PA      | $468765.91    | 0.01%             | 2049-12-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                               | CUSIP: 3136ADA74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    195048 | PA      | $146917.13    | 0.00%             | 2043-05-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CA IMPERIAL BK OF COMM                                 | Canadian Imperial Bank of Commerce                                              | CUSIP: 13608AX27<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | STIV             | CORP              | CA        |  50000000 | PA      | $49994305.50  | 0.84%             | 2025-10-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                               | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6859000 | PA      | $4275078.89   | 0.07%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac Stacr Remic Trust 2025-Dna3                                         | CUSIP: 35564UAQ0<br>LEI: 5299009HC4IGFM6RXF30 | Long             | ABS-MBS          | USGSE             | US        |   7452000 | PA      | $7456657.50   | 0.13%             | 2045-09-25      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                    | Dominion Energy Inc                                                             | CUSIP: 25746UEA3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3855000 | PA      | $3880226.00   | 0.07%             | 2056-02-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                         | BNP Paribas SA                                                                  | CUSIP: 09660EX97<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | STIV             | CORP              | FR        |   5000000 | PA      | $4995400.00   | 0.08%             | 2025-10-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140X9LP8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4315823 | PA      | $3539166.06   | 0.06%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                 | US ULTRA BOND CBT DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       741 | NC      | $-907327.26   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| TBA NOMURA BOC USD                                     | TBA NOMURA BOC USD                                                              | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -106000 | NS      | $-106000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JBS USA HOLD/FOOD GRP/CO                               | JBS USA Holding Lux Sarl / JBS USA Foods Group Holdings Inc / JBS USA Food Co   | CUSIP: 472140AE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6206000 | PA      | $6337629.26   | 0.11%             | 2036-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                 | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   7074000 | PA      | $8014507.97   | 0.13%             | 2034-10-20      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2020-B22 Mortgage Trust                                               | CUSIP: 08163BBA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  22240000 | PA      | $19376686.74  | 0.33%             | 2054-01-15      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                               | AT&T Inc                                                                        | CUSIP: 00206RMY5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   2799000 | PA      | $2882769.37   | 0.05%             | 2035-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                             | US Bancorp                                                                      | CUSIP: 91159HJB7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   4284000 | PA      | $3693240.90   | 0.06%             | 2036-11-03      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2021-1                                                      | CUSIP: 749350AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2804318 | PA      | $2324516.45   | 0.04%             | 2051-03-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| LEIDOS INC                                             | Leidos Inc                                                                      | CUSIP: 52532XAK1<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |   9078000 | PA      | $9430980.87   | 0.16%             | 2032-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| TBA JP MORGAN COC                                      | TBA JP MORGAN COC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1048000 | NS      | $1048000.00   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORP                                    | American Tower Corp                                                             | CUSIP: 03027XBA7<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |   8800000 | PA      | $8294358.78   | 0.14%             | 2030-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                               | MSCI Inc                                                                        | CUSIP: 55354GAK6<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   8800000 | PA      | $8399238.94   | 0.14%             | 2030-09-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| LEIDOS INC                                             | Leidos Inc                                                                      | CUSIP: 52532XAL9<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |  12362000 | PA      | $12808586.27  | 0.22%             | 2035-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                           | GS Mortgage Securities Trust 2020-GC47                                          | CUSIP: 36258RBA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13015000 | PA      | $11885508.84  | 0.20%             | 2053-05-12      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| TENNESSEE GAS PIPELINE                                 | Tennessee Gas Pipeline Co LLC                                                   | CUSIP: 880451AZ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12788000 | PA      | $11977311.52  | 0.20%             | 2030-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| FHLMC Structured Pass Through Securities               | Freddie Mac Structured Pass-Through Certificates                                | CUSIP: 31394JY35<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    119597 | PA      | $125711.68    | 0.00%             | 2043-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TBA BARCLAYS BANK COC                                  | TBA BARCLAYS BANK COC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -840000 | NS      | $-840000.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| TBA BANK OF AMERICA COC                                | TBA BANK OF AMERICA COC                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1701000 | NS      | $1701000.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2022-B33 Mortgage Trust                                               | CUSIP: 08163PBN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4064000 | PA      | $3222356.57   | 0.05%             | 2055-03-15      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                              | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F0206A2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        | 135000000 | PA      | $108778188.60 | 1.83%             | 2055-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | U.S. Treasury Bonds                                                             | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 180122000 | PA      | $178447427.38 | 3.00%             | 2044-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NOMURA TBA COC                                         | NOMURA TBA COC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    385000 | NS      | $385000.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GEORGIA-PACIFIC LLC                                    | Georgia-Pacific LLC                                                             | CUSIP: 37331NAT8<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |   5800000 | PA      | $5950483.49   | 0.10%             | 2032-06-30      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2022-B34 Mortgage Trust                                               | CUSIP: 08161YBG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4325866 | PA      | $4028030.56   | 0.07%             | 2055-04-15      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                 | Extra Space Storage LP                                                          | CUSIP: 30225VAS6<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |  10576000 | PA      | $10883134.44  | 0.18%             | 2034-02-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                  | Wells Fargo & Co                                                                | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   5156000 | PA      | $5334437.77   | 0.09%             | 2031-01-24      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                                   | CUSIP: 172967PR6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   6946000 | PA      | $7052038.33   | 0.12%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                | HCA Inc                                                                         | CUSIP: 404121AK1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   9458000 | PA      | $9701925.89   | 0.16%             | 2034-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.       | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137H9C98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  10595000 | PA      | $10208691.47  | 0.17%             | 2032-09-25      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                  | Wells Fargo & Co                                                                | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   7069000 | PA      | $7290266.49   | 0.12%             | 2031-04-23      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| MARS INC                                               | Mars Inc                                                                        | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   8855000 | PA      | $9021272.37   | 0.15%             | 2030-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                  | Oglethorpe Power Corp                                                           | CUSIP: 677050AU0<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | DBT              | CORP              | US        |   1589000 | PA      | $1672506.24   | 0.03%             | 2053-12-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae II Pool                                                              | CUSIP: 3622AC5Q9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  11935947 | PA      | $12102934.42  | 0.20%             | 2054-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                           | CD 2016-CD2 Mortgage Trust                                                      | CUSIP: 12515ABD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8802813 | PA      | $8715324.93   | 0.15%             | 2049-11-10      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                 | Blue Owl Credit Income Corp                                                     | CUSIP: 09581CAD3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |  14339000 | PA      | $14540500.52  | 0.24%             | 2030-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                               | Virginia Electric and Power Co                                                  | CUSIP: 927804GV0<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3232995.58   | 0.05%             | 2035-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SWEDBANK                                               | Swedbank AB                                                                     | CUSIP: 87020XC65<br>LEI: M312WZV08Y7LYUC71685 | Long             | STIV             | CORP              | SE        |   8000000 | PA      | $7861973.60   | 0.13%             | 2026-03-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2016-4                                                 | CUSIP: 46647JBA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1641433 | PA      | $1550564.16   | 0.03%             | 2046-10-25      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| TBA BOC STONEX USD                                     | TBA BOC STONEX USD                                                              | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -222000 | NS      | $-222000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DPCK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2311931 | PA      | $2355531.76   | 0.04%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SIEMENS FUNDING BV                                     | Siemens Funding BV                                                              | CUSIP: 82622RAD8<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |   4256000 | PA      | $4365434.61   | 0.07%             | 2032-05-28      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| TBA CITIGROUP BOC                                      | TBA CITIGROUP BOC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -114000 | NS      | $-114000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Time Warner Cable LLC                                  | Time Warner Cable LLC                                                           | CUSIP: 88732JAU2<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |   5494000 | PA      | $5747934.93   | 0.10%             | 2039-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                              | Towd Point Mortgage Trust 2025-HE2                                              | CUSIP: 89183PAA4<br>LEI: 254900HCCXAYNB40M417 | Long             | ABS-O            | CORP              | US        |   8231000 | PA      | $8231082.31   | 0.14%             | 2065-09-25      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | U.S. Treasury Bonds                                                             | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  96927000 | PA      | $100652631.56 | 1.69%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                     | A&D Mortgage Trust 2024-NQM1                                                    | CUSIP: 00039GAA7<br>LEI: 984500E3BD374F778L95 | Long             | ABS-MBS          | CORP              | US        |   5841999 | PA      | $5893704.98   | 0.10%             | 2069-02-25      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                               | CUSIP: 3136BUWD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  14339105 | PA      | $14363206.51  | 0.24%             | 2055-02-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2020-B20 Mortgage Trust                                               | CUSIP: 08162XBG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  20185000 | PA      | $17745725.51  | 0.30%             | 2053-10-15      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                  | Truist Financial Corp                                                           | CUSIP: 89832QAE9<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   6480000 | PA      | $6453329.62   | 0.11%             | 2025-10-06      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ALEXANDER FUND TRUST II                                | Alexander Funding Trust II                                                      | CUSIP: 014916AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5800000 | PA      | $6201752.43   | 0.10%             | 2028-07-31      | Fixed         | 7.47%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                | American Electric Power Co Inc                                                  | CUSIP: 02557TAE9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   7975000 | PA      | $7947055.60   | 0.13%             | 2056-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| ACCENTURE CAPITAL INC                                  | Accenture Capital Inc                                                           | CUSIP: 00440KAD5<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |  10188000 | PA      | $10047650.93  | 0.17%             | 2034-10-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust                         | Cascade Funding Mortgage Trust                                                  | CUSIP: 12531BAA6<br>LEI: 984500AB3AED98FEEV98 | Long             | ABS-MBS          | CORP              | US        |   2567408 | PA      | $2512816.33   | 0.04%             | 2035-03-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| TBA JP MORGAN BOC                                      | TBA JP MORGAN BOC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |  -2908000 | NS      | $-2908000.00  | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| GUARA NORTE SARL                                       | Guara Norte Sarl                                                                | CUSIP: 400666AA1<br>LEI: 549300U2I4L03BBA3485 | Long             | DBT              | CORP              | LU        |   4350826 | PA      | $4260929.02   | 0.07%             | 2034-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                              | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F0526A5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  77000000 | PA      | $77634323.69  | 1.30%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0626A0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  28000000 | PA      | $28756594.16  | 0.48%             | 2054-10-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                             | US Bancorp                                                                      | CUSIP: 91159HJR2<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   5083000 | PA      | $5351847.29   | 0.09%             | 2035-01-23      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0226A4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  59000000 | PA      | $50785848.90  | 0.85%             | 2055-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                 | General Motors Financial Co Inc                                                 | CUSIP: 37045XFG6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2777000 | PA      | $2866161.53   | 0.05%             | 2032-04-04      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trust                        | CFCRE Commercial Mortgage Trust 2016-C7                                         | CUSIP: 12532BAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6475000 | PA      | $6403965.37   | 0.11%             | 2054-12-10      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QEKE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  21127704 | PA      | $18183867.92  | 0.31%             | 2050-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Matchpoint Finance PLC                                 | Matchpoint Finance PLC                                                          | CUSIP: 57666AX15<br>LEI: 635400YCKMVA7GIA6Q33 | Long             | STIV             | CORP              | IE        |  19420000 | PA      | $19420000.00  | 0.33%             | 2025-10-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Agate Bay Mortgage Loan Trust                          | Agate Bay Mortgage Trust 2015-1                                                 | CUSIP: 00841WBJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    403210 | PA      | $394219.48    | 0.01%             | 2045-01-25      | Variable      | 3.63%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                  | Wells Fargo Commercial Mortgage Trust 2020-C58                                  | CUSIP: 95002UAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2991000 | PA      | $2660119.73   | 0.04%             | 2053-07-15      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                     | Royalty Pharma PLC                                                              | CUSIP: 78081BAQ6<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |   5800000 | PA      | $5950879.52   | 0.10%             | 2029-09-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3138WEW39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    370735 | PA      | $337295.36    | 0.01%             | 2045-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                                    | Sprint Capital Corp                                                             | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   8800000 | PA      | $9465704.95   | 0.16%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                 | US 10YR ULTRA FUT DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      2891 | NC      | $-2787151.17  | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                               | Venture Global Calcasieu Pass LLC                                               | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   6969000 | PA      | $6279242.18   | 0.11%             | 2033-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2017-2                                                 | CUSIP: 46648HAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    269055 | PA      | $242802.91    | 0.00%             | 2047-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20755CAA6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   6140339 | PA      | $6162257.68   | 0.10%             | 2043-10-25      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.       | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137HB2L7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7284000 | PA      | $7386456.74   | 0.12%             | 2030-10-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418EHF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  21262673 | PA      | $20784445.92  | 0.35%             | 2042-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                   | Bank of America Corp                                                            | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   8690000 | PA      | $9087091.98   | 0.15%             | 2029-09-15      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                                   | Signal Peak CLO 5 Ltd                                                           | CUSIP: 82666VAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3653000 | PA      | $3665591.89   | 0.06%             | 2037-04-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| FannieMae Whole Loan                                   | Fannie Mae REMIC Trust 2004-W11                                                 | CUSIP: 31394AB47<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     33285 | PA      | $34387.21     | 0.00%             | 2044-05-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                     | VICI Properties LP                                                              | CUSIP: 925650AK9<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |   3192000 | PA      | $3268320.18   | 0.05%             | 2035-04-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XFNN7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  15623528 | PA      | $12807363.12  | 0.22%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TBA STATE STREET BANK COC                              | TBA STATE STREET BANK COC                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    539000 | NS      | $539000.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                                 | ConocoPhillips Co                                                               | CUSIP: 20826FBF2<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |  15116000 | PA      | $15576537.96  | 0.26%             | 2033-09-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | U.S. Treasury Notes                                                             | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 207855000 | PA      | $209129735.22 | 3.51%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                           | UBS Group AG                                                                    | CUSIP: 902613BQ0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   6763000 | PA      | $7039657.96   | 0.12%             | 2036-05-09      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust         | Morgan Stanley Residential Mortgage Loan Trust 2021-5                           | CUSIP: 61772NAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8874779 | PA      | $7356358.96   | 0.12%             | 2051-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                 | BP Capital Markets America Inc                                                  | CUSIP: 10373QBT6<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   6635000 | PA      | $6016825.48   | 0.10%             | 2032-01-12      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                            | FIGRE Trust 2025-HE5                                                            | CUSIP: 31684MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3768932 | PA      | $3783166.26   | 0.06%             | 2055-08-25      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| General Motors                                         | GMF Floorplan Owner Revolving Trust                                             | CUSIP: 361886DA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  26486000 | PA      | $26897886.43  | 0.45%             | 2029-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                               | Lloyds Banking Group PLC                                                        | CUSIP: 53944YBA0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   4430000 | PA      | $4633158.47   | 0.08%             | 2030-06-05      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Gracechurch Mortgage Finance Plc                       | Grace Trust 2020-GRCE                                                           | CUSIP: 38406JAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8503000 | PA      | $7546113.19   | 0.13%             | 2040-12-10      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| SCOTIABANK PERU SA                                     | Scotiabank Peru SAA                                                             | CUSIP: 80928HAB9<br>LEI: 5493001E54CPRG5J5Q41 | Long             | DBT              | CORP              | PE        |   7562000 | PA      | $7860245.28   | 0.13%             | 2035-10-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                               | Enterprise Products Operating LLC                                               | CUSIP: 29379VCG6<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   4293000 | PA      | $4328686.38   | 0.07%             | 2035-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                    | Citigroup Commercial Mortgage Trust 2019-C7                                     | CUSIP: 17328CAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10872000 | PA      | $10285334.92  | 0.17%             | 2072-12-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Steele Creek CLO Ltd                                   | Steele Creek Clo 2017-1 Ltd                                                     | CUSIP: 85816VAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    452241 | PA      | $452368.29    | 0.01%             | 2030-10-15      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                 | Sequoia Mortgage Trust 2020-4                                                   | CUSIP: 81748RAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2296293 | PA      | $1889702.45   | 0.03%             | 2050-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                               | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3836000 | PA      | $3926385.48   | 0.07%             | 2029-01-19      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasing Trust                  | GM Financial Automobile Leasing Trust 2024-1                                    | CUSIP: 36269FAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8392960 | PA      | $8419870.82   | 0.14%             | 2027-03-22      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae REMICS                                                               | CUSIP: 3136BTE66<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  11764893 | PA      | $11751172.44  | 0.20%             | 2054-12-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Trust 2015-5                                                          | CUSIP: 46644XBD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    108954 | PA      | $107763.07    | 0.00%             | 2045-05-25      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR REMIC Trust 2025-DNA2                                         | CUSIP: 35564NHZ9<br>LEI: 529900XX8WXEM4FBIH80 | Long             | ABS-MBS          | USGSE             | US        |   1778040 | PA      | $1779742.22   | 0.03%             | 2045-05-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KPZH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9210760 | PA      | $9417477.71   | 0.16%             | 2052-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                       | T-Mobile USA Inc                                                                | CUSIP: 87264ADS1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   2471000 | PA      | $2543048.55   | 0.04%             | 2032-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Cantor Commercial Real Estate Lending                  | Cantor Commercial Real Estate Lending 2019-CF3                                  | CUSIP: 12529TAX1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12010000 | PA      | $11237732.98  | 0.19%             | 2053-01-15      | Fixed         | 3.01%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DWE66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  18089997 | PA      | $17627938.72  | 0.30%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                    | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21449000 | PA      | $20718674.20  | 0.35%             | 2028-12-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                                  | CUSIP: 61747YFH3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   7055000 | PA      | $7498519.35   | 0.13%             | 2029-11-01      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae I Pool                                                               | CUSIP: 3622ACCD0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7448417 | PA      | $7808856.84   | 0.13%             | 2042-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140LNA23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6115402 | PA      | $5261846.00   | 0.09%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae II Pool                                                              | CUSIP: 36179XFJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5833603 | PA      | $5837796.91   | 0.10%             | 2052-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                               | New York Life Global Funding                                                    | CUSIP: 64953BBF4<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   8900000 | PA      | $9025640.68   | 0.15%             | 2026-09-18      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| SIEMENS FUNDING BV                                     | Siemens Funding BV                                                              | CUSIP: 82622RAC0<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |   3375000 | PA      | $3435724.42   | 0.06%             | 2030-05-28      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Volkswagen Auto Lease Trust                            | Volkswagen Auto Lease Trust 2024-A                                              | CUSIP: 92866EAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  31053000 | PA      | $31328092.32  | 0.53%             | 2027-06-21      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| BEDFORD ROW FUNDING CORP                               | Bedford Row Funding Corp                                                        | CUSIP: 07644AX74<br>LEI: 5493000JWH1Z48FX0180 | Long             | STIV             | CORP              | US        |  25000000 | PA      | $24982958.25  | 0.42%             | 2025-10-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                                  | CUSIP: 61747YGA7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   5023000 | PA      | $5299567.08   | 0.09%             | 2036-04-17      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae II Pool                                                              | CUSIP: 36179XXS0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   8496476 | PA      | $8480890.60   | 0.14%             | 2053-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                 | Bank of New York Mellon Corp/The                                                | CUSIP: 064058AN0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   5663000 | PA      | $5826326.58   | 0.10%             | 2030-03-20      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13608AX76<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | STIV             | CORP              | CA        |  20000000 | PA      | $19986300.00  | 0.34%             | 2025-10-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors                           | State Street Institutional US Government Money Market Fund                      | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  19458861 | NS      | $19458860.58  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Bank                                            | Truist Bank                                                                     | CUSIP: 07330MAC1<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |  20076000 | PA      | $20226083.36  | 0.34%             | 2029-09-17      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QPAD9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  11342669 | PA      | $10492906.60  | 0.18%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                           | GS Mortgage Securities Trust 2018-GS9                                           | CUSIP: 36255NAY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2875000 | PA      | $2667171.71   | 0.04%             | 2051-03-10      | Variable      | 4.32%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KPN95<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11078700 | PA      | $11102103.47  | 0.19%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2025-V17 Mortgage Trust                                               | CUSIP: 081934AS0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  63769000 | PA      | $4135381.39   | 0.07%             | 2058-09-15      | Variable      | 1.51%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                     | Energy Transfer LP                                                              | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  14595000 | PA      | $14649439.35  | 0.25%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DVKT1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5274987 | PA      | $5070704.79   | 0.09%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CIB NY                                 | Credit Agricole Corporate and Investment Bank/New York                          | CUSIP: 22533TX27<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | FR        |  25000000 | PA      | $24997159.75  | 0.42%             | 2025-10-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TBA CITIGROUP COC                                      | TBA CITIGROUP COC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     24000 | NS      | $24000.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| APPALACHIAN POWER CO                                   | Appalachian Power Co                                                            | CUSIP: 037735CY1<br>LEI: 3SCHO1ABYYIG382BEI70 | Long             | DBT              | CORP              | US        |   2201000 | PA      | $1600953.65   | 0.03%             | 2050-05-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| TBA CITIBANK COC                                       | TBA CITIBANK COC                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  11662000 | NS      | $11662000.00  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK INC                                              | ONEOK Inc                                                                       | CUSIP: 682680CF8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   4421000 | PA      | $4173734.84   | 0.07%             | 2054-11-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                | Hyundai Capital America                                                         | CUSIP: 44891AEA1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1870000 | PA      | $1861096.59   | 0.03%             | 2030-09-18      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0406A6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  21000000 | PA      | $19742077.32  | 0.33%             | 2055-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                | Royal Caribbean Cruises Ltd                                                     | CUSIP: 78017TAB9<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   4115000 | PA      | $4138997.49   | 0.07%             | 2036-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2015-4                                                 | CUSIP: 46644VBQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1023299 | PA      | $954015.93    | 0.02%             | 2045-06-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| TBA MORGAN STANLEY COC                                 | TBA MORGAN STANLEY COC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -755000 | NS      | $-755000.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XLL71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  12226732 | PA      | $12884232.33  | 0.22%             | 2042-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                 | GE HealthCare Technologies Inc                                                  | CUSIP: 36266GAC1<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   2882000 | PA      | $2987439.70   | 0.05%             | 2035-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140J9T68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  16964731 | PA      | $15384113.67  | 0.26%             | 2048-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DVLV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3369338 | PA      | $2886433.53   | 0.05%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                           | Synopsys Inc                                                                    | CUSIP: 871607AG2<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   4188000 | PA      | $4226658.63   | 0.07%             | 2055-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                              | ONEOK Inc                                                                       | CUSIP: 682680CE1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   2703000 | PA      | $2665643.46   | 0.04%             | 2034-11-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                               | Neuberger Berman Loan Advisers CLO 48 Ltd                                       | CUSIP: 64135GAN8<br>LEI: 549300FC7JRIZ6YLHK36 | Long             | ABS-CBDO         | CORP              | JE        |   2000000 | PA      | $2000882.00   | 0.03%             | 2036-04-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| CAFCO LLC                                              | CAFCO LLC                                                                       | CUSIP: 1247P2X17<br>LEI: 8O46YQAGJ63WE5QHIG35 | Long             | STIV             | CORP              | US        |  12377000 | PA      | $12377000.00  | 0.21%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Apex Credit CLO LLC                                    | Apex Credit CLO 2021-II LLC                                                     | CUSIP: 03755QAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  28324000 | PA      | $28338162.00  | 0.48%             | 2034-10-20      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                         | Air Lease Corp                                                                  | CUSIP: 00912XBK9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   4377000 | PA      | $4230455.85   | 0.07%             | 2026-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20753GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  14540249 | PA      | $14562780.44  | 0.24%             | 2044-05-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust          | JP Morgan Chase Commercial Mortgage Securities Trust 2013-LC11                  | CUSIP: 46639YAV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1352470 | PA      | $1239868.46   | 0.02%             | 2046-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                             | US Bancorp                                                                      | CUSIP: 91159HJH4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1264000 | PA      | $1264849.36   | 0.02%             | 2026-10-21      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                 | Sempra                                                                          | CUSIP: 816851BT5<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |  14791000 | PA      | $15113295.89  | 0.25%             | 2054-10-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                                  | CUSIP: 61747YFZ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1388000 | PA      | $1433238.38   | 0.02%             | 2031-04-17      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| MANHATTAN ASSET FDG CO                                 | Manhattan Asset Funding Co LLC                                                  | CUSIP: 56274LX17<br>LEI: 549300S0NSJYSOB32S63 | Long             | STIV             | CORP              | US        |  30000000 | PA      | $30000000.00  | 0.50%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DWAN3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5290341 | PA      | $4302960.12   | 0.07%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                               | Targa Resources Partners LP / Targa Resources Partners Finance Corp             | CUSIP: 87612BBG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10782000 | PA      | $10794048.45  | 0.18%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AFRICA FINANCE CORP                                    | Africa Finance Corp                                                             | CUSIP: 00830YAF8<br>LEI: 213800LXFHRRXIJRXW97 | Long             | DBT              | NUSS              | XX        |   5393000 | PA      | $5506409.88   | 0.09%             | 2029-10-08      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| TBA GOLDMAN SACHS COC                                  | TBA GOLDMAN SACHS COC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |  -2010000 | NS      | $-2010000.00  | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae - CAS                                       | Connecticut Avenue Securities Series 2025-R01                                   | CUSIP: 20755JAC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5334000 | PA      | $5341767.37   | 0.09%             | 2045-01-25      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KLJ57<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2633190 | PA      | $2257141.08   | 0.04%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                     | Credit Agricole SA                                                              | CUSIP: 22535WAR8<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   5754000 | PA      | $5902627.66   | 0.10%             | 2031-05-27      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                 | US LONG BOND(CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        65 | NC      | $-67132.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2022-B35 Mortgage Trust                                               | CUSIP: 08163RBQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13924000 | PA      | $13613848.47  | 0.23%             | 2055-05-15      | Variable      | 4.59%                 | No            |                  2 | On Loan: No      |
| SWAP GOLDMAN SACHS COC                                 | SWAP GOLDMAN SACHS COC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |       100 | NS      | $100.21       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Porsche Innovative Lease Owner Trust                   | Porsche Innovative Lease Owner Trust 2024-1                                     | CUSIP: 73328AAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  18267000 | PA      | $18360278.61  | 0.31%             | 2027-11-22      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                               | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   5800000 | PA      | $6025359.12   | 0.10%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                        | Venture 34 CLO Ltd                                                              | CUSIP: 92332CAE9<br>LEI: 549300MYRV6PEDBLPL32 | Long             | ABS-CBDO         | CORP              | KY        |   4344727 | PA      | $4346573.30   | 0.07%             | 2031-10-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK                                  | Toronto-Dominion Bank/The                                                       | CUSIP: 89119AXT0<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | CA        |  35000000 | PA      | $34895097.30  | 0.59%             | 2025-10-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2015-4                                                 | CUSIP: 46644VBR6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    802363 | PA      | $748038.98    | 0.01%             | 2045-06-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| TBA BARCLAYS BANK COC                                  | TBA BARCLAYS BANK COC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    540000 | NS      | $540000.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADA-GOV'T                                           | Canada                                                                          | CUSIP: 13508TXN1<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | STIV             | CORP              | CA        |   5000000 | PA      | $4988070.85   | 0.08%             | 2025-10-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                       | T-Mobile USA Inc                                                                | CUSIP: 87264ABL8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   5883000 | PA      | $4420621.86   | 0.07%             | 2041-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                  | Aon North America Inc                                                           | CUSIP: 03740MAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4626000 | PA      | $4818225.89   | 0.08%             | 2031-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2022-B32 Mortgage Trust                                               | CUSIP: 08163NBQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10047000 | PA      | $7875389.18   | 0.13%             | 2055-01-15      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                       | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CU1<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   6519000 | PA      | $6973104.61   | 0.12%             | 2029-11-20      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2020-2                                                 | CUSIP: 46591TAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    356600 | PA      | $318933.14    | 0.01%             | 2050-07-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                                   | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3736000 | PA      | $3850160.95   | 0.06%             | 2030-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TBBC INTL FC STONE BOC                                 | TBBC INTL FC STONE BOC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    222000 | NS      | $222000.00    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES CLO Ltd                                           | Ares LXV CLO Ltd                                                                | CUSIP: 04019FAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  29000000 | PA      | $29066584.00  | 0.49%             | 2034-07-25      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 51 Ltd                     | Octagon Investment Partners 51 Ltd                                              | CUSIP: 675943AA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10047000 | PA      | $10059337.72  | 0.17%             | 2034-07-20      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                              | Towd Point Mortgage Trust 2018-1                                                | CUSIP: 89176EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    179792 | PA      | $178160.25    | 0.00%             | 2058-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust             | JPMDB Commercial Mortgage Securities Trust 2016-C2                              | CUSIP: 46590LAT9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10755000 | PA      | $10433381.40  | 0.18%             | 2049-06-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp                                         | Air Lease Corp                                                                  | CUSIP: 00912XBF0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   3017000 | PA      | $3030914.22   | 0.05%             | 2028-10-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.       | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137H7M91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  21463000 | PA      | $19323385.72  | 0.32%             | 2032-04-25      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140K0SW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  14876682 | PA      | $13318777.81  | 0.22%             | 2049-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                     | Athene Holding Ltd                                                              | CUSIP: 04686JAM3<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   5279000 | PA      | $5407147.73   | 0.09%             | 2055-06-28      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Cantor Commercial Real Estate Lending                  | Cantor Commercial Real Estate Lending 2019-CF1                                  | CUSIP: 12529MAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14871000 | PA      | $14517679.91  | 0.24%             | 2052-05-15      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2020-B17 Mortgage Trust                                               | CUSIP: 08162MAX6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21463000 | PA      | $19236151.51  | 0.32%             | 2053-03-15      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CIB NY                                 | Credit Agricole Corporate and Investment Bank/New York                          | CUSIP: 22533TX19<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | FR        |  50000000 | PA      | $50000000.00  | 0.84%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                         | Rocket Cos Inc                                                                  | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7503000 | PA      | $7743951.34   | 0.13%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust             | JPMDB Commercial Mortgage Securities Trust 2016-C4                              | CUSIP: 46646RAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6530000 | PA      | $6407104.75   | 0.11%             | 2049-12-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| POPULAR INC                                            | Popular Inc                                                                     | CUSIP: 733174AL0<br>LEI: 5493008CARDZMVQ3LO89 | Long             | DBT              | CORP              | PR        |   9000000 | PA      | $9402759.00   | 0.16%             | 2028-03-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   8731000 | PA      | $9028776.69   | 0.15%             | 2031-04-23      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust          | JP Morgan Chase Commercial Mortgage Securities Trust 2015-JP1                   | CUSIP: 46590KAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7047262 | PA      | $7005733.16   | 0.12%             | 2049-01-15      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ELEC POWER                                | Southwestern Electric Power Co                                                  | CUSIP: 845437BR2<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |  16298000 | PA      | $16245621.65  | 0.27%             | 2028-09-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  26673000 | PA      | $27546029.70  | 0.46%             | 2031-01-24      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| SWAP CCPC JP MORGAN COC                                | SWAP CCPC JP MORGAN COC                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   5463085 | NS      | $5463084.90   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                                  | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  11755000 | PA      | $12032788.64  | 0.20%             | 2029-04-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS NY BRANCH                                  | BNP Paribas SA/New York NY                                                      | CUSIP: 09659BY79<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | STIV             | CORP              | US        |   8500000 | PA      | $8462522.06   | 0.14%             | 2025-11-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                 | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RCB1<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   6667000 | PA      | $6847915.78   | 0.12%             | 2031-02-11      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                            | Oracle Corp                                                                     | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   4725000 | PA      | $4730681.67   | 0.08%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XK2G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  11906959 | PA      | $11751623.04  | 0.20%             | 2050-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                               | Vertiv Group Corp                                                               | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |   5008000 | PA      | $4890208.99   | 0.08%             | 2028-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                              | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F0124A1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  10000000 | PA      | $8944727.40   | 0.15%             | 2040-10-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Trust 2015-1                                                          | CUSIP: 46643UDP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    758868 | PA      | $758089.48    | 0.01%             | 2044-12-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                  | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CBJ2<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |  25751000 | PA      | $26474620.61  | 0.44%             | 2033-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                              | CUSIP: 3137HFGQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14253154 | PA      | $14218346.72  | 0.24%             | 2054-09-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Bank                                                   | BANK 2017-BNK5                                                                  | CUSIP: 06541WBB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3731000 | PA      | $3599024.46   | 0.06%             | 2060-06-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae II Pool                                                              | CUSIP: 3622ACQE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  10691887 | PA      | $10844101.68  | 0.18%             | 2053-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cantor Commercial Real Estate Lending                  | Cantor Commercial Real Estate Lending 2019-CF2                                  | CUSIP: 12528YAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5434000 | PA      | $5098022.30   | 0.09%             | 2052-11-15      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Gold Pool                                                           | CUSIP: 31335B5H5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7182531 | PA      | $6723085.47   | 0.11%             | 2048-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                   | OneMain Finance Corp                                                            | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   5731000 | PA      | $5920339.57   | 0.10%             | 2032-09-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                   | Deephaven Residential Mortgage Trust 2024-1                                     | CUSIP: 24380QAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6257460 | PA      | $6312119.91   | 0.11%             | 2069-07-25      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust          | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP2                   | CUSIP: 46590MAR1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9731000 | PA      | $9550559.04   | 0.16%             | 2049-08-15      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner Trust                    | Toyota Auto Receivables 2024-B Owner Trust                                      | CUSIP: 89237NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  26098000 | PA      | $26495297.68  | 0.45%             | 2029-01-16      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132ACYK0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2118064 | PA      | $2135642.27   | 0.04%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418DXK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1655884 | PA      | $1345455.19   | 0.02%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                           | Entegris Inc                                                                    | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   5393000 | PA      | $5346742.62   | 0.09%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2021-12                                                | CUSIP: 46592WAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12792860 | PA      | $10604080.60  | 0.18%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                         | Home Depot Inc/The                                                              | CUSIP: 437076DE9<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   6238000 | PA      | $6387562.66   | 0.11%             | 2034-06-25      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2018-B1 Mortgage Trust                                                | CUSIP: 08162PAX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1220000 | PA      | $1202012.08   | 0.02%             | 2051-01-15      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20754TAD4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   4558000 | PA      | $4567820.67   | 0.08%             | 2045-02-25      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| NRW.BANK                                               | NRW Bank                                                                        | CUSIP: 62939LX95<br>LEI: 52990002O5KK6XOGJ020 | Long             | STIV             | CORP              | DE        |  50000000 | PA      | $49954666.50  | 0.84%             | 2025-10-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Gotham Funding Corp                                    | Gotham Funding Corp                                                             | CUSIP: 38346LXE1<br>LEI: 549300Z2ZR7VTUMRPR17 | Long             | STIV             | CORP              | US        |  25000000 | PA      | $24962986.00  | 0.42%             | 2025-10-14      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortgage Trust                | DBJPM 20-C9 Mortgage Trust                                                      | CUSIP: 233063AT3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10275000 | PA      | $9125350.80   | 0.15%             | 2053-08-15      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| Oglethorpe Power Corp                                  | Oglethorpe Power Corp                                                           | CUSIP: 677050AN6<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | DBT              | CORP              | US        |   5649000 | PA      | $5136731.68   | 0.09%             | 2048-10-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                             | US Bancorp                                                                      | CUSIP: 91159HJK7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |  14825000 | PA      | $14988997.71  | 0.25%             | 2029-02-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Diamond Infrastructure Funding LLC                     | Diamond Infrastructure Funding LLC                                              | CUSIP: 25265LAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  24025000 | PA      | $23041325.21  | 0.39%             | 2049-04-15      | Fixed         | 1.76%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5800000 | PA      | $5662134.46   | 0.10%             | 2029-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                               | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |  18664000 | PA      | $17986356.63  | 0.30%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                                   | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5612000 | PA      | $5879046.57   | 0.10%             | 2036-01-24      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| SOUTHERN POWER CO                                      | Southern Power Co                                                               | CUSIP: 843646AX8<br>LEI: 5LADC78JBG2BMZD5XF57 | Long             | DBT              | CORP              | US        |   2525000 | PA      | $2509774.25   | 0.04%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                           | Enbridge Inc                                                                    | CUSIP: 29250NCA1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   6220000 | PA      | $6314065.12   | 0.11%             | 2027-04-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2020-7                                                 | CUSIP: 46591XAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1582781 | PA      | $1368050.50   | 0.02%             | 2051-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| TBA MERRILL LYNCH COC                                  | TBA MERRILL LYNCH COC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -105000 | NS      | $-105000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DOMINION ENERGY INC                                    | Dominion Energy Inc                                                             | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   5046000 | PA      | $5222246.54   | 0.09%             | 2055-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                               | AT&T Inc                                                                        | CUSIP: 00206RMZ2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   2781000 | PA      | $2882574.05   | 0.05%             | 2056-08-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2021-B24 Mortgage Trust                                               | CUSIP: 08163CBC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6059000 | PA      | $5403318.04   | 0.09%             | 2054-03-15      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                 | US 5YR NOTE (CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |     12141 | NC      | $-5895826.68  | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC                                           | Enbridge Inc                                                                    | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   2722000 | PA      | $2748166.59   | 0.05%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DVKS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5355880 | PA      | $5298379.76   | 0.09%             | 2049-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                               | Neuberger Berman Loan Advisers CLO 48 Ltd                                       | CUSIP: 64135GAL2<br>LEI: 549300FC7JRIZ6YLHK36 | Long             | ABS-CBDO         | CORP              | JE        |  29400000 | PA      | $29413053.60  | 0.49%             | 2036-04-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| LIBERTY STREET FDG LLC                                 | Liberty Street Funding LLC                                                      | CUSIP: 53127TX16<br>LEI: 549300F33VRHM10B9391 | Long             | STIV             | CORP              | US        |   9000000 | PA      | $9000000.00   | 0.15%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                 | Blackstone Private Credit Fund                                                  | CUSIP: 09261HBU0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   4430000 | PA      | $4507742.91   | 0.08%             | 2029-11-22      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132E0DY5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  23201856 | PA      | $23649091.20  | 0.40%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KMJG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5256144 | PA      | $4679806.87   | 0.08%             | 2051-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132ADXY9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3555758 | PA      | $3502962.81   | 0.06%             | 2049-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                       | Crown Castle Inc                                                                | CUSIP: 22822VBF7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |   8800000 | PA      | $8926411.38   | 0.15%             | 2029-09-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2016-4                                                 | CUSIP: 46647JAZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    896444 | PA      | $846817.65    | 0.01%             | 2046-10-25      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 31329NP69<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  47508968 | PA      | $44388641.95  | 0.75%             | 2047-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                              | Boeing Co/The                                                                   | CUSIP: 097023AX3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   4875000 | PA      | $5520441.37   | 0.09%             | 2039-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                 | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BW4<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   4841000 | PA      | $5105006.89   | 0.09%             | 2035-01-22      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132D9QC1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  19846775 | PA      | $17705428.43  | 0.30%             | 2042-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                  | Wells Fargo Commercial Mortgage Trust 2025-5C6                                  | CUSIP: 95004TAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  76020600 | PA      | $4432913.23   | 0.07%             | 2058-10-15      | Variable      | 1.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Gold Pool                                                           | CUSIP: 31335BXV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3737206 | PA      | $3376364.43   | 0.06%             | 2048-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DVL52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  13835855 | PA      | $11908932.36  | 0.20%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GB86<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   7782000 | PA      | $7902067.08   | 0.13%             | 2045-11-19      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2020-B19 Mortgage Trust                                               | CUSIP: 08162WBC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  27498000 | PA      | $24161981.14  | 0.41%             | 2053-09-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| TBA GOLDMAN SACHS BOC                                  | TBA GOLDMAN SACHS BOC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -730000 | NS      | $-730000.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Santander Drive Auto Receivables Trust                 | Santander Drive Auto Receivables Trust 2025-1                                   | CUSIP: 80288DAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7078000 | PA      | $7183482.73   | 0.12%             | 2031-03-17      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140X5TL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2432803 | PA      | $2392577.94   | 0.04%             | 2050-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bank                                                   | BANK 2019-BNK20                                                                 | CUSIP: 06540AAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5625000 | PA      | $5269088.25   | 0.09%             | 2062-09-15      | Fixed         | 3.01%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                              | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F0626A4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  51000000 | PA      | $52702568.19  | 0.89%             | 2054-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TBA GOLDMAN SACHS COC                                  | TBA GOLDMAN SACHS COC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   2010000 | NS      | $2010000.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QLRB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  21754439 | PA      | $18626729.68  | 0.31%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                              | CUSIP: 3137HHWV9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    358155 | PA      | $358252.39    | 0.01%             | 2055-01-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20754BAB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   4169000 | PA      | $4261093.21   | 0.07%             | 2042-01-25      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QLMW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6002807 | PA      | $4903071.15   | 0.08%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QQSQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7683912 | PA      | $7838223.52   | 0.13%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                     | Energy Transfer LP                                                              | CUSIP: 29273VAS9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   5955000 | PA      | $6265810.15   | 0.11%             | 2028-12-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                         | Air Lease Corp                                                                  | CUSIP: 00914AAV4<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   2182000 | PA      | $2215374.61   | 0.04%             | 2029-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                       | BAT Capital Corp                                                                | CUSIP: 054989AF5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   7330000 | PA      | $7253557.78   | 0.12%             | 2033-03-22      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                                        | BAE Systems PLC                                                                 | CUSIP: 05523RAL1<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |  17745000 | PA      | $18388122.99  | 0.31%             | 2034-03-26      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2025-J2 Trust                                                               | CUSIP: 67122EAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11965539 | PA      | $11988648.32  | 0.20%             | 2055-09-25      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0606A4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  95000000 | PA      | $96616289.15  | 1.62%             | 2054-10-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Regatta XIX Funding Ltd                                | Regatta XIX Funding Ltd                                                         | CUSIP: 75888EAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2740000 | PA      | $2740493.20   | 0.05%             | 2035-04-20      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140X4PF7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3494645 | PA      | $3388679.55   | 0.06%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TBA MORGAN STANLEY BOC                                 | TBA MORGAN STANLEY BOC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1759000 | NS      | $1759000.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust 2020-1  | Morgan Stanley Residential Mortgage Loan Trust 2020-1                           | CUSIP: 61771QAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3864369 | PA      | $3166849.98   | 0.05%             | 2050-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                         | Home Depot Inc/The                                                              | CUSIP: 437076DB5<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   2379000 | PA      | $2418374.02   | 0.04%             | 2027-06-25      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                                   | Kraft Heinz Foods Co                                                            | CUSIP: 50077LAX4<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |   1975000 | PA      | $1800672.22   | 0.03%             | 2039-10-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0326A3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  40000000 | PA      | $36464642.00  | 0.61%             | 2055-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                   | FREMF 2017-K71 Mortgage Trust                                                   | CUSIP: 35708WAS9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2731000 | PA      | $2680329.85   | 0.05%             | 2050-11-25      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                  | Wells Fargo Commercial Mortgage Trust 2016-BNK1                                 | CUSIP: 95000GAY0<br>LEI: 549300DNBJ7A0SEFVK31 | Long             | ABS-MBS          | CORP              | US        |   7211000 | PA      | $7097220.52   | 0.12%             | 2049-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO                                 | Corp Andina de Fomento                                                          | CUSIP: 219868CM6<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              | NUSS              | XX        |   2384000 | PA      | $2463625.60   | 0.04%             | 2030-06-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD GRP/CO                               | JBS USA Holding Lux Sarl / JBS USA Foods Group Holdings Inc / JBS USA Food Co   | CUSIP: 472140AG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5804000 | PA      | $5951363.56   | 0.10%             | 2056-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                | Jefferies Financial Group Inc                                                   | CUSIP: 47233JGT9<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   5411000 | PA      | $4812658.76   | 0.08%             | 2031-10-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| TBA BONY BOC USD                                       | TBA BONY BOC USD                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    142000 | NS      | $142000.00    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                           | Broadcom Inc                                                                    | CUSIP: 11135FCM1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   3758000 | PA      | $3872998.97   | 0.07%             | 2035-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2022-B36 Mortgage Trust                                               | CUSIP: 08163QBH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7284000 | PA      | $7143997.15   | 0.12%             | 2055-07-15      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                 | US 10YR NOTE (CBT)DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |     -8526 | NC      | $4895231.73   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC                                           | Enbridge Inc                                                                    | CUSIP: 29250NCJ2<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   3585000 | PA      | $3666154.47   | 0.06%             | 2030-06-20      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                               | AT&T Inc                                                                        | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |  15749000 | PA      | $10893629.92  | 0.18%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Radian Mortgage Capital Trust                          | Radian Mortgage Capital Trust 2025-J3                                           | CUSIP: 75024RBP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5951186 | PA      | $5974852.57   | 0.10%             | 2055-12-25      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| Black Diamond CLO                                      | Black Diamond CLO 2017-2 DAC                                                    | CUSIP: 000000000<br>LEI: 549300PKZ3LBLGCJNI86 | Long             | ABS-CBDO         | CORP              | IE        |     21509 | PA      | $21508.97     | 0.00%             | 2032-01-20      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| SOFTBANK CORP                                          | SOFTBANK CORP                                                                   | CUSIP: 83405KAA0<br>LEI: 353800M1YCTS9JRBJ535 | Long             | DBT              | CORP              | JP        |   9969000 | PA      | $10045052.50  | 0.17%             | 2030-07-09      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| MARS INC                                               | Mars Inc                                                                        | CUSIP: 571676BB0<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   5206000 | PA      | $5281102.69   | 0.09%             | 2045-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| TBA CITIGROUP COC                                      | TBA CITIGROUP COC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        | -11897000 | NS      | $-11897000.00 | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                | Jefferies Financial Group Inc                                                   | CUSIP: 472319AM4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   4685000 | PA      | $5028787.31   | 0.08%             | 2043-01-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3138WHSS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    884973 | PA      | $800861.54    | 0.01%             | 2046-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0206A8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  60000000 | PA      | $49583361.60  | 0.83%             | 2055-10-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PEX0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  10320000 | PA      | $10877535.42  | 0.18%             | 2036-04-22      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QSTW1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5946224 | PA      | $5961702.21   | 0.10%             | 2053-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                             | US Bancorp                                                                      | CUSIP: 91159HJQ4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2283000 | PA      | $2360436.07   | 0.04%             | 2030-01-23      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                | American Electric Power Co Inc                                                  | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2660000 | PA      | $2663740.63   | 0.04%             | 2056-03-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                 | Verizon Communications Inc                                                      | CUSIP: 92343VGZ1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   5010000 | PA      | $5094738.29   | 0.09%             | 2035-04-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DSP22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  18816169 | PA      | $19098170.91  | 0.32%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DVMD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14620980 | PA      | $12992117.75  | 0.22%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0526A1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        | 101000000 | PA      | $101751670.28 | 1.71%             | 2054-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR REMIC Trust 2022-DNA1                                         | CUSIP: 35564KQC6<br>LEI: 5493000ISBDRXIMCHZ70 | Long             | ABS-MBS          | USGSE             | US        |  10549000 | PA      | $10721271.50  | 0.18%             | 2042-01-25      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DWNX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  35142818 | PA      | $35445615.80  | 0.60%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | U.S. Treasury Notes                                                             | CUSIP: 91282CJA0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12262000 | PA      | $12606868.75  | 0.21%             | 2028-09-30      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                 | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCV0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   6699000 | PA      | $6556544.36   | 0.11%             | 2054-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2021-4                                                      | CUSIP: 74938VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13248289 | PA      | $10981588.63  | 0.18%             | 2051-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133B0SH7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  19142932 | PA      | $16443234.28  | 0.28%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Bank                                                   | BANK 2020-BNK25                                                                 | CUSIP: 06539WBB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  36533000 | PA      | $33680306.08  | 0.57%             | 2063-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2022-B33 Mortgage Trust                                               | CUSIP: 08163PBM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4064000 | PA      | $3543715.75   | 0.06%             | 2055-03-15      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133WKN51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3699275 | PA      | $3699373.42   | 0.06%             | 2038-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XQUL9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6549976 | PA      | $5562827.86   | 0.09%             | 2053-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                    | Citigroup Commercial Mortgage Trust 2016-P3                                     | CUSIP: 29429CAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7213000 | PA      | $7148086.61   | 0.12%             | 2049-04-15      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| TBA WELLS FARGO BOC                                    | TBA WELLS FARGO BOC                                                             | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -226000 | NS      | $-226000.37   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE BANK NY                                       | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526DA4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   5544000 | PA      | $5679071.13   | 0.10%             | 2031-05-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer LLC                                    | DataBank Issuer                                                                 | CUSIP: 23802WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7763000 | PA      | $7668986.19   | 0.13%             | 2051-02-27      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| KKR FINANCIAL CLO LTD                                  | KKR CLO 41 Ltd                                                                  | CUSIP: 48255PAA3<br>LEI: 254900UD92WBBLUHGZ35 | Long             | ABS-CBDO         | CORP              | KY        |   5115000 | PA      | $5119900.17   | 0.09%             | 2035-04-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                                  | CUSIP: 61747YEX9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  21815000 | PA      | $21828887.43  | 0.37%             | 2026-10-16      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                             | US Bancorp                                                                      | CUSIP: 91159HJT8<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   6676000 | PA      | $6847123.17   | 0.12%             | 2031-02-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                            | Oracle Corp                                                                     | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3530000 | PA      | $3528268.04   | 0.06%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ATLANTIC CITY ELECTRIC                                 | Atlantic City Electric Co                                                       | CUSIP: 048303CH2<br>LEI: 549300S5TW3VP5V06B73 | Long             | DBT              | CORP              | US        |   1548000 | PA      | $1545139.14   | 0.03%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                         | Air Lease Corp                                                                  | CUSIP: 00914AAJ1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |  20637000 | PA      | $20545796.84  | 0.35%             | 2026-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                          | Amphenol Corp                                                                   | CUSIP: 032095AL5<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |   6553000 | PA      | $5815378.13   | 0.10%             | 2031-09-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust Series 2024-VIS2                                       | CUSIP: 46658DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2249719 | PA      | $2278076.84   | 0.04%             | 2064-11-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Manhattan Asset Funding Co LLC                         | Manhattan Asset Funding Co LLC                                                  | CUSIP: 56274LXE9<br>LEI: 549300S0NSJYSOB32S63 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49925791.50  | 0.84%             | 2025-10-14      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QKC48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  16545067 | PA      | $13436501.20  | 0.23%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ICG US CLO Ltd                                         | ICG US CLO 2014-1 Ltd                                                           | CUSIP: 44928XAY0<br>LEI: 25490053S2JSJU63Y978 | Long             | ABS-CBDO         | CORP              | KY        |   3653000 | PA      | $3657120.58   | 0.06%             | 2034-10-20      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QP3Z8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8721429 | PA      | $8926640.70   | 0.15%             | 2052-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140J9T84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  13478309 | PA      | $12180630.59  | 0.20%             | 2048-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                       | CIFC Funding 2021-VII Ltd                                                       | CUSIP: 12567HAQ5<br>LEI: 54930089HD7KU5NUS092 | Long             | ABS-CBDO         | CORP              | KY        |  24382000 | PA      | $24405991.89  | 0.41%             | 2035-01-23      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                      | Citigroup Mortgage Loan Trust 2025-4                                            | CUSIP: 17332NAX0<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |   8927000 | PA      | $8926966.08   | 0.15%             | 2055-10-25      | Floating      | 5.61%                 | No            |                  3 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Trust 2015-6                                                          | CUSIP: 46645GAY4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    718653 | PA      | $694806.97    | 0.01%             | 2045-10-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                         | Morgan Stanley Capital I Trust 2019-L3                                          | CUSIP: 61691UBE8<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |   5845000 | PA      | $5513014.52   | 0.09%             | 2052-11-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| SWAP CCPC JP MORGAN COC                                | SWAP CCPC JP MORGAN COC                                                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |  -5605454 | NS      | $-5605453.66  | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                 | US 2YR NOTE (CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -303 | NC      | $144400.11    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC                                     | Meta Platforms Inc                                                              | CUSIP: 30303M8V7<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   4229000 | PA      | $4178173.97   | 0.07%             | 2054-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac Stacr Remic Trust 2025-Hqa1                                         | CUSIP: 35564NHA4<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | USGSE             | US        |   1200000 | PA      | $1204531.92   | 0.02%             | 2045-02-25      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                       | T-Mobile USA Inc                                                                | CUSIP: 87264ADU6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   7594000 | PA      | $7756996.48   | 0.13%             | 2055-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 31329QHG9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1757882 | PA      | $1732802.32   | 0.03%             | 2049-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13608AX19<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | STIV             | CORP              | CA        |  50000000 | PA      | $50000000.00  | 0.84%             | 2025-10-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XCLU0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8941113 | PA      | $7655646.66   | 0.13%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                                  | CUSIP: 61747YFR1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  13390000 | PA      | $14274314.83  | 0.24%             | 2035-04-19      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                            | Citibank NA                                                                     | CUSIP: 17325FBF4<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   4457000 | PA      | $4487117.20   | 0.08%             | 2026-04-30      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                      | State Street Corp                                                               | CUSIP: 857477CL5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   7188000 | PA      | $7298640.36   | 0.12%             | 2027-03-18      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | U.S. Treasury Notes                                                             | CUSIP: 91282CNM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13577000 | PA      | $13665038.43  | 0.23%             | 2028-07-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PEE2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   6940000 | PA      | $7091577.93   | 0.12%             | 2028-04-22      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| MARS INC                                               | Mars Inc                                                                        | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |  11828000 | PA      | $11981127.54  | 0.20%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                   | M&T Bank Corp                                                                   | CUSIP: 55261FAY0<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   4475000 | PA      | $4582876.36   | 0.08%             | 2031-07-08      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                | Hyundai Capital America                                                         | CUSIP: 44891ACA3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4685853.05   | 0.08%             | 2028-09-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| AEP Texas Inc                                          | AEP Texas Inc                                                                   | CUSIP: 00108WAJ9<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |   1397000 | PA      | $1091098.32   | 0.02%             | 2049-05-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                     | VICI Properties LP                                                              | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |   7877000 | PA      | $7968363.35   | 0.13%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Victory Receivables Corp                               | Victory Receivables Corp                                                        | CUSIP: 92646KX31<br>LEI: 549300D0F37QF0LP7F94 | Long             | STIV             | CORP              | US        |  20000000 | PA      | $19995466.60  | 0.34%             | 2025-10-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortgage Trust                | DBJPM 16-C1 Mortgage Trust                                                      | CUSIP: 23312LAS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4188000 | PA      | $4155484.37   | 0.07%             | 2049-05-10      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                              | Boeing Co/The                                                                   | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7183088.99   | 0.12%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                       | CIFC Funding 2022-IV Ltd                                                        | CUSIP: 12567WAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4700000 | PA      | $4702350.00   | 0.08%             | 2035-07-16      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| TBA WELLS FARGO BOC                                    | TBA WELLS FARGO BOC                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    340000 | NS      | $340000.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                    | GS Mortgage-Backed Securities Trust 2021-PJ9                                    | CUSIP: 36263CAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13740395 | PA      | $11389498.88  | 0.19%             | 2052-02-26      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                       | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CS6<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   5422000 | PA      | $5693853.98   | 0.10%             | 2029-01-18      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0506A5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  40000000 | PA      | $39784767.20  | 0.67%             | 2054-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140NSQX5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6851046 | PA      | $7142217.95   | 0.12%             | 2053-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                               | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3146000 | PA      | $3018111.01   | 0.05%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                 | PNC Financial Services Group Inc/The                                            | CUSIP: 693475CD5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   3557000 | PA      | $3632375.11   | 0.06%             | 2031-05-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                       | Trinitas CLO XVII Ltd                                                           | CUSIP: 89642JAN5<br>LEI: 254900E0LENORBQRRG46 | Long             | ABS-CBDO         | CORP              | KY        |  14700000 | PA      | $14713671.00  | 0.25%             | 2034-10-20      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PDY9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4064000 | PA      | $4478222.75   | 0.08%             | 2034-10-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION EN GEN LLC                               | Constellation Energy Generation LLC                                             | CUSIP: 210385AF7<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |   7357000 | PA      | $7454334.73   | 0.13%             | 2054-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                              | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F0606A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        | 167000000 | PA      | $170605140.89 | 2.87%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TBA BANK OF AMERICA COC                                | TBA BANK OF AMERICA COC                                                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |  -1714000 | NS      | $-1714000.00  | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                    | GS Mortgage Backed Securities Trust 2025 CES2                                   | CUSIP: 36273BAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4013000 | PA      | $4013040.13   | 0.07%             | 2055-09-25      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                                  | CUSIP: 61747YEV3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  11176000 | PA      | $11646386.11  | 0.20%             | 2028-10-18      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                           | GS Mortgage Securities Trust 2017-GS6                                           | CUSIP: 36253PAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13609000 | PA      | $13397766.55  | 0.23%             | 2050-05-10      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP                                 | Aviation Capital Group LLC                                                      | CUSIP: 05369AAQ4<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |   6398000 | PA      | $6553362.12   | 0.11%             | 2029-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                               | Benchmark 2022-B32 Mortgage Trust                                               | CUSIP: 08163NBP9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8220000 | PA      | $6866761.13   | 0.12%             | 2055-01-15      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| SOUTHERN POWER CO                                      | Southern Power Co                                                               | CUSIP: 843646AY6<br>LEI: 5LADC78JBG2BMZD5XF57 | Long             | DBT              | CORP              | US        |   4550000 | PA      | $4487213.96   | 0.08%             | 2035-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association                                        | CUSIP: 38378WRW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2231683 | PA      | $2077163.83   | 0.03%             | 2043-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                               | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401ABC4<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |  10000000 | PA      | $9879266.00   | 0.17%             | 2032-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                    | Petroleos Mexicanos                                                             | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   4103000 | PA      | $3386230.11   | 0.06%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                   | Verizon Master Trust                                                            | CUSIP: 92348KCQ4<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |  15527000 | PA      | $15867165.52  | 0.27%             | 2030-04-22      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133BMLL7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  12923572 | PA      | $12214274.84  | 0.21%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132A5GE9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  44589505 | PA      | $40295666.86  | 0.68%             | 2047-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                           | UBS Group AG                                                                    | CUSIP: 902613BN7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  12828000 | PA      | $13228015.52  | 0.22%             | 2029-09-10      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co                                   | Kraft Heinz Foods Co                                                            | CUSIP: 50076QAR7<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |   1975000 | PA      | $2203517.67   | 0.04%             | 2039-01-26      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418ET67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8887104 | PA      | $8974646.46   | 0.15%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2021-6                                                      | CUSIP: 74939KAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5911489 | PA      | $4900069.90   | 0.08%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| CARLISLE COS INC                                       | Carlisle Cos Inc                                                                | CUSIP: 142339AN0<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1401758.57   | 0.02%             | 2035-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WOODSIDE FINANCE LTD                                   | Woodside Finance Ltd                                                            | CUSIP: 980236AU7<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |   6010000 | PA      | $6239889.83   | 0.10%             | 2032-05-19      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                       | Carlyle US CLO 2020-2 Ltd                                                       | CUSIP: 14315GAW5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  27000000 | PA      | $27028350.00  | 0.45%             | 2035-01-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                  | Aon North America Inc                                                           | CUSIP: 03740MAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1740000 | PA      | $1752320.71   | 0.03%             | 2054-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                           | Enbridge Inc                                                                    | CUSIP: 29250NCK9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   5622000 | PA      | $5797763.12   | 0.10%             | 2035-06-20      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                           | CD 2017-CD6 Mortgage Trust                                                      | CUSIP: 125039AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2760000 | PA      | $2633410.94   | 0.04%             | 2050-11-13      | Variable      | 3.91%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust         | Morgan Stanley Residential Mortgage Loan Trust 2021-4                           | CUSIP: 61772MAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2765404 | PA      | $2292260.91   | 0.04%             | 2051-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | U.S. Treasury Bonds                                                             | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 170848000 | PA      | $171381900.00 | 2.88%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0426A2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  57000000 | PA      | $55267295.19  | 0.93%             | 2055-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                               | Macquarie Airfinance Holdings Ltd                                               | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |   8800000 | PA      | $9267427.58   | 0.16%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Bank                                                   | BANK 2022-BNK40                                                                 | CUSIP: 06541LBU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8083000 | PA      | $7102077.84   | 0.12%             | 2064-03-15      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| AON CORP/AON GLOBAL HOLD                               | Aon Corp / Aon Global Holdings PLC                                              | CUSIP: 03740LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |  11471000 | PA      | $7241275.00   | 0.12%             | 2051-08-23      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                 | Sequoia Mortgage Trust 2015-1                                                   | CUSIP: 81745QCB6<br>LEI: 5493007E0SBYHIR7SU85 | Long             | ABS-MBS          | CORP              | US        |    487563 | PA      | $474768.62    | 0.01%             | 2045-01-25      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                           | GS Mortgage Securities Trust 2019-GC42                                          | CUSIP: 36257UAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  18267000 | PA      | $17133989.33  | 0.29%             | 2052-09-10      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                    | Citigroup Commercial Mortgage Trust 2017-C4                                     | CUSIP: 17326FAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  17298000 | PA      | $17001915.32  | 0.29%             | 2050-10-12      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20754VAB3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   7060721 | PA      | $7101261.96   | 0.12%             | 2045-03-25      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| AON CORP/AON GLOBAL HOLD                               | Aon Corp / Aon Global Holdings PLC                                              | CUSIP: 03740LAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |  11257000 | PA      | $11586081.62  | 0.19%             | 2032-09-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                  | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BC7<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   7498000 | PA      | $7891176.75   | 0.13%             | 2029-08-21      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortgage Trust                | DBJPM 20-C9 Mortgage Trust                                                      | CUSIP: 233063BC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2968000 | PA      | $2523183.17   | 0.04%             | 2053-08-15      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XGTC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  14914630 | PA      | $15042355.59  | 0.25%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US BANK NA CINCINNATI                                  | US Bank NA/Cincinnati OH                                                        | CUSIP: 90331HPS6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |   6238000 | PA      | $6293244.35   | 0.11%             | 2028-05-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                              | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C26                     | CUSIP: 61690VAZ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1115254 | PA      | $1109270.38   | 0.02%             | 2048-10-15      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| PK ALIFT LOAN FUNDING                                  | PK Alift Loan Funding 7 LP                                                      | CUSIP: 69291NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3015000 | PA      | $3015407.03   | 0.05%             | 2043-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                    | GS Mortgage-Backed Securities Trust 2025-PJ8                                    | CUSIP: 36272XBA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2397000 | PA      | $2396789.54   | 0.04%             | 2056-02-25      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association                                        | CUSIP: 38380KSV8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    498710 | PA      | $454733.41    | 0.01%             | 2047-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                              | CUSIP: 3137BWY73<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1840772 | PA      | $1598428.56   | 0.03%             | 2045-07-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                               | Vistra Operations Co LLC                                                        | CUSIP: 92840VAS1<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   2790000 | PA      | $2941516.53   | 0.05%             | 2034-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                     | EFMT 2025-NQM4                                                                  | CUSIP: 26846RAD5<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |  20613765 | PA      | $20610120.75  | 0.35%             | 2070-09-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                | Jefferies Financial Group Inc                                                   | CUSIP: 47233WKS7<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   8450000 | PA      | $8467539.50   | 0.14%             | 2026-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Victory Receivables Corp                               | Victory Receivables Corp                                                        | CUSIP: 92646KX72<br>LEI: 549300D0F37QF0LP7F94 | Long             | STIV             | CORP              | US        |  25000000 | PA      | $24982916.75  | 0.42%             | 2025-10-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                       | Deutsche Bank AG/New York NY                                                    | CUSIP: 25160PAN7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   5037000 | PA      | $5144801.72   | 0.09%             | 2027-07-13      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| Nestle Finance International Ltd                       | Nestle Finance International Ltd                                                | CUSIP: 64106GX16<br>LEI: 0KLLMNHINTFDRMU6DI05 | Long             | STIV             | CORP              | LU        |  20000000 | PA      | $20000000.00  | 0.34%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                | Hyundai Capital America                                                         | CUSIP: 44891ACY1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   6700000 | PA      | $6881470.97   | 0.12%             | 2029-03-19      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                             | US Bancorp                                                                      | CUSIP: 91159HJU5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   3599000 | PA      | $3726561.34   | 0.06%             | 2036-02-12      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac Stacr Remic Trust 2025-Dna3                                         | CUSIP: 35564UAR8<br>LEI: 5299009HC4IGFM6RXF30 | Long             | ABS-MBS          | USGSE             | US        |  11384000 | PA      | $11391115.00  | 0.19%             | 2045-09-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DMGC3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7884360 | PA      | $7432197.01   | 0.12%             | 2047-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2021-10                                                | CUSIP: 46654AAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5858983 | PA      | $4856547.24   | 0.08%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XLD47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  11960564 | PA      | $12256145.12  | 0.21%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                    | Dominion Energy Inc                                                             | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   6051000 | PA      | $6333425.40   | 0.11%             | 2055-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA                               | Cooperatieve Rabobank UA/NY                                                     | CUSIP: 21687AX24<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | STIV             | CORP              | US        |  35000000 | PA      | $34996023.65  | 0.59%             | 2025-10-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ACCENTURE CAPITAL INC                                  | Accenture Capital Inc                                                           | CUSIP: 00440KAB9<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |   4580000 | PA      | $4575633.11   | 0.08%             | 2029-10-04      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| LIBERTY STREET FDG LLC                                 | Liberty Street Funding LLC                                                      | CUSIP: 53127TYM9<br>LEI: 549300F33VRHM10B9391 | Long             | STIV             | CORP              | US        |  38960000 | PA      | $38724876.40  | 0.65%             | 2025-11-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                           | GS Mortgage Securities Trust 2019-GC39                                          | CUSIP: 36260JAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $2068521.18   | 0.03%             | 2052-05-10      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                 | GE HealthCare Technologies Inc                                                  | CUSIP: 36266GAB3<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   2941000 | PA      | $2989286.78   | 0.05%             | 2031-01-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                            | Gartner Inc                                                                     | CUSIP: 366651AG2<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |   8800000 | PA      | $8431773.68   | 0.14%             | 2029-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XGUS6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7188670 | PA      | $6995401.12   | 0.12%             | 2033-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                               | Capital One Financial Corp                                                      | CUSIP: 14040HDM4<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   6490000 | PA      | $6437504.66   | 0.11%             | 2031-09-11      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140X67M7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1937128 | PA      | $1746908.05   | 0.03%             | 2047-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP                                 | Aviation Capital Group LLC                                                      | CUSIP: 05369AAT8<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |  14878000 | PA      | $14864376.51  | 0.25%             | 2030-10-24      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                 | Sequoia Mortgage Trust 2013-4                                                   | CUSIP: 81744YAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    291922 | PA      | $281850.68    | 0.00%             | 2043-04-25      | Variable      | 3.43%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR REMIC Trust 2021-DNA5                                         | CUSIP: 35564KHE2<br>LEI: 5493000ISU5NYXNHD479 | Long             | ABS-MBS          | USGSE             | US        |   4426668 | PA      | $4451105.91   | 0.07%             | 2034-01-25      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                 | U.S. Treasury Bonds                                                             | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6850000 | PA      | $6358191.37   | 0.11%             | 2044-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae                                                                      | CUSIP: 21H0306A7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  16000000 | PA      | $14281218.72  | 0.24%             | 2055-10-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TBA CITIGROUP BOC                                      | TBA CITIGROUP BOC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    862000 | NS      | $862000.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TBA GOLDMAN SACHS BOC                                  | TBA GOLDMAN SACHS BOC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   7000000 | NS      | $7000000.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Chase Mortgage Finance Corporation                     | Chase Home Lending Mortgage Trust 2025-10                                       | CUSIP: 16160BBD8<br>LEI: 529900PXR6MEGSRAOO62 | Long             | ABS-MBS          | CORP              | US        |   5346100 | PA      | $5346125.13   | 0.09%             | 2056-07-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                   | Bank of America Corp                                                            | CUSIP: 06051GMD8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  23067000 | PA      | $23627496.27  | 0.40%             | 2035-10-25      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 31418DP97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  22074844 | PA      | $17991546.08  | 0.30%             | 2050-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                                      | Sysco Corp                                                                      | CUSIP: 871829BU0<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |   4210000 | PA      | $4340511.22   | 0.07%             | 2030-09-23      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Bank                                                   | BANK 2019-BNK21                                                                 | CUSIP: 06540BBD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11462000 | PA      | $10757912.26  | 0.18%             | 2052-10-17      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                     | Royalty Pharma PLC                                                              | CUSIP: 78081BAU7<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |   2775000 | PA      | $2772643.97   | 0.05%             | 2035-09-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac REMICS                                                              | CUSIP: 3137HFD77<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  20071249 | PA      | $20080303.01  | 0.34%             | 2054-08-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| BARCLAYS US CCP                                        | Barclays Bank PLC                                                               | CUSIP: 06741FX10<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | STIV             | CORP              | GB        |  30000000 | PA      | $30000000.00  | 0.50%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132DWDC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  13959095 | PA      | $11303243.21  | 0.19%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                     | Athene Holding Ltd                                                              | CUSIP: 04686JAL5<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   5790000 | PA      | $6196131.79   | 0.10%             | 2055-05-19      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                               | Enterprise Products Operating LLC                                               | CUSIP: 29379VCD3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   5147000 | PA      | $5379047.09   | 0.09%             | 2033-01-31      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR REMIC Trust 2025-DNA2                                         | CUSIP: 35564NJA2<br>LEI: 529900XX8WXEM4FBIH80 | Long             | ABS-MBS          | USGSE             | US        |   4443000 | PA      | $4445896.39   | 0.07%             | 2045-05-25      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GB78<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   9348000 | PA      | $9410152.89   | 0.16%             | 2035-10-23      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                          | AEP Texas Inc                                                                   | CUSIP: 00108WAK6<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |   1649000 | PA      | $1143024.48   | 0.02%             | 2050-01-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Agate Bay Mortgage Loan Trust                          | Agate Bay Mortgage Trust 2015-1                                                 | CUSIP: 00841WBK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    249481 | PA      | $243918.48    | 0.00%             | 2045-01-25      | Variable      | 3.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QGM61<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  36927867 | PA      | $31866272.31  | 0.54%             | 2051-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                           | Broadcom Inc                                                                    | CUSIP: 11135FCL3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   3019000 | PA      | $3088399.93   | 0.05%             | 2032-07-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| TBA MORGAN STANLEY COC                                 | TBA MORGAN STANLEY COC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1206000 | NS      | $1206000.00   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MARSH & MCLENNAN COS INC                               | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748CE0<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |  11120000 | PA      | $11026557.97  | 0.19%             | 2044-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                           | Broadcom Inc                                                                    | CUSIP: 11135FBX8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   9289000 | PA      | $9568467.46   | 0.16%             | 2029-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                               | Mill City Mortgage Loan Trust 2023-NQM2                                         | CUSIP: 59981CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4669165 | PA      | $4675628.54   | 0.08%             | 2067-12-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                               | Apollo Debt Solutions BDC                                                       | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |   2735000 | PA      | $2898584.48   | 0.05%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                    | New Residential Mortgage Loan Trust 2018-RPL1                                   | CUSIP: 64829VAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    490298 | PA      | $475451.18    | 0.01%             | 2057-12-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                               | Greensaif Pipelines Bidco Sarl                                                  | CUSIP: 39541EAC7<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |   3557000 | PA      | $3846828.45   | 0.06%             | 2042-02-23      | Fixed         | 6.51%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                              | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F0506A9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  10000000 | PA      | $9916571.60   | 0.17%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust             | JPMDB Commercial Mortgage Securities Trust 2017-C7                              | CUSIP: 46648KAU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3854000 | PA      | $3763881.92   | 0.06%             | 2050-10-15      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| TBA MORGAN STANLEY BOC                                 | TBA MORGAN STANLEY BOC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -613000 | NS      | $-613000.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| UMBS, TBA                                              | Uniform Mortgage-Backed Security, TBA                                           | CUSIP: 01F0126A9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  12000000 | PA      | $9211672.32   | 0.15%             | 2055-10-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                          | Carnival Corp                                                                   | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   8800000 | PA      | $8984676.80   | 0.15%             | 2030-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                       | Bank of Montreal                                                                | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   2160000 | PA      | $2292138.00   | 0.04%             | 2084-11-26      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| AS MILEAGE PLAN IP LTD                                 | AS Mileage Plan IP Ltd                                                          | CUSIP: 00218QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   5800000 | PA      | $5803030.15   | 0.10%             | 2029-10-20      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2014-2                                                 | CUSIP: 46641YAQ6<br>LEI: 549300BV8AJIRLDGMR51 | Long             | ABS-MBS          | CORP              | US        |    219277 | PA      | $212824.18    | 0.00%             | 2029-06-25      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                     | Royalty Pharma PLC                                                              | CUSIP: 78081BAJ2<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |   6297000 | PA      | $6016506.75   | 0.10%             | 2027-09-02      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Mortgage Trust 2017-1                                                 | CUSIP: 46648CAY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3173806 | PA      | $2883799.09   | 0.05%             | 2047-01-25      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3132A5HR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5615840 | PA      | $5381180.27   | 0.09%             | 2047-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                                | CUSIP: 3133KJNE8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1656982 | PA      | $1415461.63   | 0.02%             | 2050-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                                   | CUSIP: 172967QF1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5395000 | PA      | $5397916.43   | 0.09%             | 2031-09-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TBA CITIBANK BOC                                       | TBA CITIBANK BOC                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    752000 | NS      | $752000.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD                                     | Athene Holding Ltd                                                              | CUSIP: 04686JAJ0<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   5539000 | PA      | $5588767.92   | 0.09%             | 2054-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Credit Agricole Corporate and Investment Bank/New York | Credit Agricole Corporate and Investment Bank/New York                          | CUSIP: 22536JM36<br>LEI: 254900BN8XS34XZDJ223 | Long             | STIV             | CORP              | US        |  10000000 | PA      | $10000000.00  | 0.17%             | 2025-10-23      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                                   | Enel Finance International NV                                                   | CUSIP: 29278GBG2<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   6685000 | PA      | $6639533.78   | 0.11%             | 2030-09-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Atlantic Asset Securitization LLC                      | Atlantic Asset Securitization LLC                                               | CUSIP: 04821TX18<br>LEI: 549300BUNY5BIX4CVW20 | Long             | STIV             | CORP              | US        |  53197000 | PA      | $53197000.00  | 0.89%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ABN AMRO FUNDING USA LLC                               | ABN AMRO Funding USA LLC                                                        | CUSIP: 00084BX17<br>LEI: 549300WEQ09INLYV6558 | Long             | STIV             | CORP              | US        |  88000000 | PA      | $88000000.00  | 1.48%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                       | Trinitas CLO XIV Ltd                                                            | CUSIP: 89641QAY6<br>LEI: 549300095MXHZZMH2053 | Long             | ABS-CBDO         | CORP              | KY        |  29000000 | PA      | $28999536.00  | 0.49%             | 2034-01-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                               | Vistra Operations Co LLC                                                        | CUSIP: 92840VAQ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |  16079000 | PA      | $17933551.86  | 0.30%             | 2033-10-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                               | JP Morgan Trust 2015-6                                                          | CUSIP: 46645GBA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1001097 | PA      | $894002.72    | 0.02%             | 2045-10-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                        | Venture 42 CLO Ltd                                                              | CUSIP: 923260AC7<br>LEI: 5493005OM8P21GK6YE73 | Long             | ABS-CBDO         | CORP              | KY        |  13700000 | PA      | $13708713.20  | 0.23%             | 2034-04-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

**Signature:** James Hoffmayer

**Name of Signer:** James Hoffmayer

**Title:** VP