Form NPORT-P ULTRA SERIES FUND For: Mar 31

May 18, 2022 10:56 AM EDT

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    NPORT-P
    false
    
      
      
        
          0000732697
          XXXXXXXX
        
      
      
      
      
        S000019978
        C000056036
        C000074783
      
      
      
    
  
  
    
      ULTRA SERIES FUND
      811-04815
      0000732697
      254900JPNAJ16VJV5X45
      550 SCIENCE DRIVE
      MADISON
      
      53711
      608-274-0300
      Core Bond Fund
      S000019978
      254900ZJ8847WPVD2X76
      2022-12-31
      2022-03-31
      N
    
    
      100707777.22
      3196236.29
      97511540.93
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      443508.89000000
      
        
          USD
          
          
        
      
      
      
      
        
        
        
        
        
      
      N
      
        
          
          
        
        
          
            
            
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        JPMORGAN CHASE & CO
        8I5DZWZKVSZI1NUHU748
        JPMorgan Chase & Co.
        48128BAH4
        
          
        
        400000.00000000
        PA
        USD
        378000.00000000
        0.387646422561
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-04-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        HUNTINGTON NATIONAL BANK
        2WHM8VNJH63UN14OL754
        Huntington National Bank
        44644AAE7
        
          
        
        250000.00000000
        PA
        USD
        252962.75000000
        0.259418267404
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-10-06
          Fixed
          3.55000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Bond
        912810SE9
        
          
        
        500000.00000000
        PA
        USD
        585898.44000000
        0.600850355160
        Long
        DBT
        UST
        US
        N
        
        2
        
          2048-11-15
          Fixed
          3.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        31335AYT9
        
          
        
        448173.53000000
        PA
        USD
        446161.17000000
        0.457547040837
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2046-10-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BROADCOM INC
        549300WV6GIDOZJTV909
        Broadcom, Inc.
        11135FBQ3
        
          
        
        12000.00000000
        PA
        USD
        10524.80000000
        0.010793389069
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2036-11-15
          Fixed
          3.18700000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Bunker Hill Loan Depositary Trust
        N/A
        Bunker Hill Loan Depositary Trust
        12061RAA9
        
          
        
        128181.47000000
        PA
        USD
        127277.29000000
        0.130525360163
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2049-07-25
          Variable
          2.87900000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Bond
        912810SN9
        
          
        
        1500000.00000000
        PA
        USD
        1121015.63000000
        1.149623541283
        Long
        DBT
        UST
        US
        N
        
        2
        
          2050-05-15
          Fixed
          1.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418CYM0
        
          
        
        138243.44000000
        PA
        USD
        141514.54000000
        0.145125939607
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-07-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUBLIC STORAGE
        549300LMZF40TKJ6DM64
        Public Storage
        74460DAH2
        
          
        
        125000.00000000
        PA
        USD
        115622.30000000
        0.118572939056
        Long
        DBT
        
        US
        N
        
        2
        
          2028-11-09
          Fixed
          1.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Ball Corp
        0BGI85ALH27ZJP15DY16
        Ball Corp.
        058498AV8
        
          
        
        250000.00000000
        PA
        USD
        260461.50000000
        0.267108382777
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-03-15
          Fixed
          4.87500000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        AERCAP IRELAND CAP/GLOBA
        N/A
        AerCap Ireland Capital DAC/AerCap Global Aviation Trust
        00774MAS4
        
          
        
        300000.00000000
        PA
        USD
        274610.17000000
        0.281618121692
        Long
        DBT
        CORP
        IE
        N
        
        2
        
          2026-01-30
          Fixed
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Note
        9128286B1
        
          
        
        2250000.00000000
        PA
        USD
        2279619.14000000
        2.337794191598
        Long
        DBT
        UST
        US
        N
        
        2
        
          2029-02-15
          Fixed
          2.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Vodafone Group PLC
        213800TB53ELEUKM7Q61
        Vodafone Group PLC
        92857WBL3
        
          
        
        250000.00000000
        PA
        USD
        272603.59000000
        0.279560334499
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2038-05-30
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3140E9NZ5
        
          
        
        156936.07000000
        PA
        USD
        159600.95000000
        0.163673908214
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2045-11-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31410LRR5
        
          
        
        467655.65000000
        PA
        USD
        472640.92000000
        0.484702544429
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2030-09-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3132M8PL4
        
          
        
        242015.83000000
        PA
        USD
        247208.43000000
        0.253517099250
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2044-08-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Carlisle Cos Inc
        XR64VGX1ZPX6G7ZN7Z11
        Carlisle Cos., Inc.
        142339AG5
        
          
        
        200000.00000000
        PA
        USD
        201840.30000000
        0.206991191068
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-12-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WALGREENS BOOTS ALLIANCE
        549300RPTUOIXG4LIH86
        Walgreens Boots Alliance, Inc.
        931427AQ1
        
          
        
        176000.00000000
        PA
        USD
        177104.59000000
        0.181624234742
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-06-01
          Fixed
          3.45000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MARS INC
        54930073HKEO6GZBSS03
        Mars, Inc.
        571676AN5
        
          
        
        350000.00000000
        PA
        USD
        292958.78000000
        0.300434981547
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2040-07-16
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GLP CAPITAL LP / FIN II
        N/A
        GLP Capital LP/GLP Financing II, Inc.
        361841AR0
        
          
        
        200000.00000000
        PA
        USD
        181460.00000000
        0.186090793222
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2032-01-15
          Fixed
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        31334YPZ4
        
          
        
        420979.80000000
        PA
        USD
        404868.00000000
        0.415200084152
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-04-01
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ORACLE CORP
        1Z4GXXU7ZHVWFCD8TV52
        Oracle Corp.
        68389XCA1
        
          
        
        400000.00000000
        PA
        USD
        349502.12000000
        0.358421287025
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2051-03-25
          Fixed
          3.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MAGALLANES INC
        549300DXR29GD4N0A520
        Magallanes, Inc.
        55903VAQ6
        
          
        
        175000.00000000
        PA
        USD
        179085.35000000
        0.183655543017
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2052-03-15
          Fixed
          5.14100000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PSMC 2019-2 Trust
        N/A
        PSMC Trust
        69374XAA8
        
          
        
        7718.70000000
        PA
        USD
        7707.66000000
        0.007904356680
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2049-10-25
          Variable
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chase Auto Credit Linked Notes
        N/A
        JPMorgan Chase Bank NA - CACLN
        46591HCE8
        
          
        
        340855.43000000
        PA
        USD
        330985.69000000
        0.339432324464
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2029-02-26
          Fixed
          0.86000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KINDER MORGAN INC
        549300WR7IX8XE0TBO16
        Kinder Morgan, Inc.
        49456BAH4
        
          
        
        550000.00000000
        PA
        USD
        615464.67000000
        0.631171104599
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2045-06-01
          Fixed
          5.55000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3132XVH97
        
          
        
        165016.12000000
        PA
        USD
        167438.94000000
        0.171711920869
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2047-12-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OLD REPUBLIC INTL CORP
        549300IV6O2YY2A1KH37
        Old Republic International Corp.
        680223AL8
        
          
        
        250000.00000000
        PA
        USD
        231866.13000000
        0.237783269332
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2051-06-11
          Fixed
          3.85000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STERIS PLC
        549300BRDKZ1HFI2J358
        STERIS Irish FinCo UnLtd Co.
        85917PAB3
        
          
        
        350000.00000000
        PA
        USD
        325416.19000000
        0.333720692849
        Long
        DBT
        CORP
        IE
        
        N
        
        2
        
          2051-03-15
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STATE STREET CORP
        549300ZFEEJ2IP5VME73
        State Street Corp.
        857477BF9
        
          
        
        125000.00000000
        PA
        USD
        119570.38000000
        0.122621772622
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2034-11-01
          Fixed
          3.03100000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KKR GROUP FINAN CO VIII
        N/A
        KKR Group Finance Co. VIII LLC
        48252MAA3
        
          
        
        250000.00000000
        PA
        USD
        217951.81000000
        0.223513860945
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-08-25
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GOLDMAN SACHS BDC INC
        6D01AGSGBNZIJSN77043
        Goldman Sachs BDC, Inc.
        38147UAD9
        
          
        
        200000.00000000
        PA
        USD
        192660.00000000
        0.197576613150
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-01-15
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        CHARLES SCHWAB CORP
        549300VSGCJ7E698NM85
        Charles Schwab Corp.
        808513BJ3
        
          
        
        550000.00000000
        PA
        USD
        493966.00000000
        0.506571832717
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-12-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3140F9UD5
        
          
        
        111408.33000000
        PA
        USD
        115181.44000000
        0.118120828469
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2046-12-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Synchrony Credit Card Master Note Trust
        549300G1V1M796QIYC04
        Synchrony Credit Card Master Note Trust
        87165LCE9
        
          
        
        500000.00000000
        PA
        USD
        502756.45000000
        0.515586611805
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2026-05-15
          Fixed
          3.87000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CIGNA CORP
        549300VIWYMSIGT1U456
        Cigna Corp.
        125523AH3
        
          
        
        50000.00000000
        PA
        USD
        52690.57000000
        0.054035214188
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-10-15
          Fixed
          4.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HORMEL FOODS CORP
        MSD54751OJP1FS2ND863
        Hormel Foods Corp.
        440452AF7
        
          
        
        200000.00000000
        PA
        USD
        179261.56000000
        0.183836249832
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-06-11
          Fixed
          1.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MORGAN STANLEY
        IGJSJL3JD5P30I6NJZ34
        Morgan Stanley
        61772BAB9
        
          
        
        250000.00000000
        PA
        USD
        232566.90000000
        0.238501922728
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-05-04
          Fixed
          1.59300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Duke Energy Corp
        I1BZKREC126H0VB1BL91
        Duke Energy Corp.
        26441CAT2
        
          
        
        400000.00000000
        PA
        USD
        376778.16000000
        0.386393401649
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2046-09-01
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        31297GFX4
        
          
        
        226118.34000000
        PA
        USD
        242467.36000000
        0.248655038867
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-11-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TD SYNNEX CORP
        5493004HI6PFLF46NS53
        TD SYNNEX Corp.
        87162WAE0
        
          
        
        500000.00000000
        PA
        USD
        458554.42000000
        0.470256562071
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-08-09
          Fixed
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MCDONALD'S CORP
        UE2136O97NLB5BYP9H04
        McDonald's Corp.
        58013MFM1
        
          
        
        250000.00000000
        PA
        USD
        227481.14000000
        0.233286375982
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-03-01
          Fixed
          2.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3140FKDN7
        
          
        
        257757.25000000
        PA
        USD
        256425.94000000
        0.262969836754
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2047-01-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ROYAL BANK OF CANADA
        ES7IP3U3RHIGC71XBU11
        Royal Bank of Canada
        78015K7H1
        
          
        
        375000.00000000
        PA
        USD
        354330.21000000
        0.363372588127
        Long
        DBT
        CORP
        CA
        N
        
        2
        
          2025-06-10
          Fixed
          1.15000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EMPOWER FINANCE 2020 LP
        N/A
        Empower Finance 2020 LP
        29248HAC7
        
          
        
        125000.00000000
        PA
        USD
        105776.35000000
        0.108475723992
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2051-09-17
          Fixed
          3.07500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Cboe Global Markets Inc
        529900RLNSGA90UPEH54
        Cboe Global Markets, Inc.
        12503MAA6
        
          
        
        365000.00000000
        PA
        USD
        371963.79000000
        0.381456170677
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-01-12
          Fixed
          3.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WESTERN UNION CO/THE
        28ID94QU1140NC23S047
        Western Union Co.
        959802AY5
        
          
        
        125000.00000000
        PA
        USD
        123687.50000000
        0.126843960028
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-01-10
          Fixed
          2.85000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DISCOVERY COMMUNICATIONS
        L2Z2MO2EQURH3BREWI15
        Discovery Communications LLC
        25470DAS8
        
          
        
        250000.00000000
        PA
        USD
        256820.96000000
        0.263374937520
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2037-09-20
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ALIBABA GROUP HOLDING
        5493001NTNQJDH60PM02
        Alibaba Group Holding Ltd.
        01609WAX0
        
          
        
        250000.00000000
        PA
        USD
        217292.08000000
        0.222837294875
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2031-02-09
          Fixed
          2.12500000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        LAD Auto Receivables Trust
        N/A
        LAD Auto Receivables Trust
        501683AA4
        
          
        
        383085.98000000
        PA
        USD
        375406.22000000
        0.384986450239
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2026-08-17
          Fixed
          1.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JP Morgan Mortgage Trust
        N/A
        JP Morgan Mortgage Trust
        46592EAC0
        
          
        
        346317.68000000
        PA
        USD
        321530.34000000
        0.329735677370
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2051-06-25
          Variable
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ENERGY TRANSFER LP
        MTLVN9N7JE8MIBIJ1H73
        Energy Transfer LP
        29278NAG8
        
          
        
        300000.00000000
        PA
        USD
        320165.26000000
        0.328335761025
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2029-04-15
          Fixed
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CIGNA CORP
        549300VIWYMSIGT1U456
        Cigna Corp.
        125523AK6
        
          
        
        200000.00000000
        PA
        USD
        223994.63000000
        0.229710891514
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2048-12-15
          Fixed
          4.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CCG Receivables Trust
        N/A
        CCG Receivables Trust
        12509DAB8
        
          
        
        149280.07000000
        PA
        USD
        147797.81000000
        0.151569556372
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2027-12-14
          Fixed
          0.54000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31417C4N2
        
          
        
        471972.17000000
        PA
        USD
        481748.70000000
        0.494042751663
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-09-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FREMF Mortgage Trust
        549300OFE1DNC7KO4K57
        FREMF Mortgage Trust
        30292NAG8
        
          
        
        450000.00000000
        PA
        USD
        445495.19000000
        0.456864065269
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-01-25
          Variable
          3.67000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418DHH8
        
          
        
        61351.06000000
        PA
        USD
        60669.62000000
        0.062217886643
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2039-11-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Mars Inc
        54930073HKEO6GZBSS03
        Mars, Inc.
        571676AD7
        
          
        
        350000.00000000
        PA
        USD
        354162.64000000
        0.363200741801
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2039-04-01
          Fixed
          3.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Bond
        912810EZ7
        
          
        
        2000000.00000000
        PA
        USD
        2380000.00000000
        2.440736734648
        Long
        DBT
        UST
        US
        N
        
        2
        
          2027-02-15
          Fixed
          6.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PICASSO FINANCE SUB INC
        N/A
        Picasso Finance Sub, Inc.
        71953LAA9
        
          
        
        135000.00000000
        PA
        USD
        137193.75000000
        0.140694884617
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-06-15
          Fixed
          6.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LYB INT FINANCE III
        N/A
        LYB International Finance III LLC
        50249AAJ2
        
          
        
        400000.00000000
        PA
        USD
        361712.74000000
        0.370943517608
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2051-04-01
          Fixed
          3.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        5493008BJIBKQ5KTIF74
        State Street Navigator Securities Lending Government Money Market Portfolio
        857492706
        
          
        
        2725190.00000000
        NS
        USD
        2725190.00000000
        2.794735857939
        Long
        STIV
        RF
        US
        N
        
        1
        
          
          N
          N
        
      
      
        ENLINK MIDSTREAM PARTNER
        88CPW63VL7KHJWS0NY83
        EnLink Midstream Partners LP
        29336UAG2
        
          
        
        550000.00000000
        PA
        USD
        464750.00000000
        0.476610251020
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2047-06-01
          Fixed
          5.45000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PIONEER NATURAL RESOURCE
        FY8JBF7CCL2VE4F1B628
        Pioneer Natural Resources Co.
        723787AR8
        
          
        
        200000.00000000
        PA
        USD
        180261.76000000
        0.184861974573
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-01-15
          Fixed
          2.15000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138ASR46
        
          
        
        257707.40000000
        PA
        USD
        269140.35000000
        0.276008713874
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-09-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Note
        9128282A7
        
          
        
        2750000.00000000
        PA
        USD
        2638925.80000000
        2.706270226920
        Long
        DBT
        UST
        US
        N
        
        2
        
          2026-08-15
          Fixed
          1.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VULCAN MATERIALS CO
        549300Q8LSNHAVWBNI21
        Vulcan Materials Co.
        929160AZ2
        
          
        
        250000.00000000
        PA
        USD
        247984.45000000
        0.254312922998
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-06-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        McDonald's Corp
        UE2136O97NLB5BYP9H04
        McDonald's Corp.
        58013MFA7
        
          
        
        400000.00000000
        PA
        USD
        445151.38000000
        0.456511481363
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2045-12-09
          Fixed
          4.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Bond
        912810SU3
        
          
        
        1000000.00000000
        PA
        USD
        874218.75000000
        0.896528494640
        Long
        DBT
        UST
        US
        N
        
        2
        
          2051-02-15
          Fixed
          1.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Towd Point Asset Funding, LLC
        N/A
        Towd Point HE Trust HE1
        89180DAA4
        
          
        
        247214.47000000
        PA
        USD
        242785.82000000
        0.248981625851
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2063-02-25
          Variable
          0.91800000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        31334XEE5
        
          
        
        234627.32000000
        PA
        USD
        230678.20000000
        0.236565023790
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2049-07-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138WMKY6
        
          
        
        329881.81000000
        PA
        USD
        336732.67000000
        0.345325965304
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2043-03-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31415SGU0
        
          
        
        286507.06000000
        PA
        USD
        321843.96000000
        0.330057300838
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2038-08-01
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Wheels SPV LLC
        N/A
        Wheels SPV 2 LLC
        96328DBN3
        
          
        
        200000.00000000
        PA
        USD
        200421.42000000
        0.205536101766
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2028-05-22
          Fixed
          2.35000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Government National Mortgage Association
        36202DMR9
        
          
        
        15848.01000000
        PA
        USD
        17270.62000000
        0.017711359942
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2031-04-20
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        METLIFE INC
        C4BXATY60WC6XEOZDX54
        MetLife, Inc.
        59156RCA4
        
          
        
        350000.00000000
        PA
        USD
        345170.00000000
        0.353978612898
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-09-15
          Fixed
          3.85000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        JP Morgan Mortgage Trust
        N/A
        JP Morgan Mortgage Trust
        46651GAC3
        
          
        
        79966.74000000
        PA
        USD
        79557.81000000
        0.081588096384
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2050-02-25
          Variable
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INTUIT INC
        VI90HBPH7XSFMB9E4M29
        Intuit, Inc.
        46124HAD8
        
          
        
        250000.00000000
        PA
        USD
        220603.05000000
        0.226232759626
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-07-15
          Fixed
          1.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CVS Health Corp
        549300EJG376EN5NQE29
        CVS Health Corp.
        126650CN8
        
          
        
        250000.00000000
        PA
        USD
        282487.98000000
        0.289696970538
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2045-07-20
          Fixed
          5.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VMWARE INC
        549300BUDHS3LRWBE814
        VMware, Inc.
        928563AL9
        
          
        
        250000.00000000
        PA
        USD
        220141.42000000
        0.225759348996
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-08-15
          Fixed
          2.20000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418BNK8
        
          
        
        270426.86000000
        PA
        USD
        286684.76000000
        0.294000850838
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2045-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PSMC Trust
        N/A
        PSMC Trust
        693652AB5
        
          
        
        82317.54000000
        PA
        USD
        81732.32000000
        0.083818099089
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2050-05-25
          Variable
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PSMC Trust
        N/A
        PSMC Trust
        693650AL7
        
          
        
        194693.34000000
        PA
        USD
        186187.97000000
        0.190939419297
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2051-03-25
          Variable
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BAXTER INTERNATIONAL INC
        J5OIVXX3P24RJRW5CK77
        Baxter International, Inc.
        071813CM9
        
          
        
        300000.00000000
        PA
        USD
        278472.81000000
        0.285579334860
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-12-01
          Fixed
          2.27200000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3132WLRX6
        
          
        
        130921.83000000
        PA
        USD
        135082.34000000
        0.138529592201
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2047-03-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        31298HA65
        
          
        
        33333.25000000
        PA
        USD
        33642.84000000
        0.034501393044
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2031-03-01
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Bond
        912810QS0
        
          
        
        750000.00000000
        PA
        USD
        882832.04000000
        0.905361592669
        Long
        DBT
        UST
        US
        N
        
        2
        
          2041-08-15
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FHLMC Multifamily Structured Pass Through Certs.
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
        3137F2LJ3
        
          
        
        650000.00000000
        PA
        USD
        661134.05000000
        0.678005950572
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2027-06-25
          Fixed
          3.11700000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JP Morgan Mortgage Trust
        N/A
        JP Morgan Mortgage Trust
        46653PAF4
        
          
        
        421473.36000000
        PA
        USD
        404630.86000000
        0.414956892426
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2051-10-25
          Variable
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VALERO ENERGY CORP
        549300XTO5VR8SKV1V74
        Valero Energy Corp.
        91913YBE9
        
          
        
        100000.00000000
        PA
        USD
        93928.56000000
        0.096325582699
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2052-06-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LOWE'S COS INC
        WAFCR4OKGSC504WU3E95
        Lowe's Cos., Inc.
        548661DZ7
        
          
        
        500000.00000000
        PA
        USD
        425126.28000000
        0.435975348092
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-10-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CARRIER GLOBAL CORP
        549300JE3W6CWY2NAN77
        Carrier Global Corp.
        14448CAS3
        
          
        
        150000.00000000
        PA
        USD
        137181.85000000
        0.140682680933
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-04-05
          Fixed
          3.57700000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EXPEDIA GROUP INC
        N/A
        Expedia Group, Inc.
        30212PAR6
        
          
        
        350000.00000000
        PA
        USD
        333580.59000000
        0.342093445369
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-02-15
          Fixed
          3.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Hillsboro School District No 1J
        N/A
        Hillsboro School District No. 1J
        939307HP2
        
          
        
        800000.00000000
        PA
        USD
        835591.44000000
        0.856915429733
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2034-06-30
          Fixed
          4.35500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WELLS FARGO & COMPANY
        PBLD0EJDB5FWOLXP3B76
        Wells Fargo & Co.
        95000U2S1
        
          
        
        250000.00000000
        PA
        USD
        236771.09000000
        0.242813402128
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-06-02
          Fixed
          2.39300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VALERO ENERGY PARTNERS
        549300WH1375KZXLJ231
        Valero Energy Partners LP
        91914JAB8
        
          
        
        500000.00000000
        PA
        USD
        513016.19000000
        0.526108176639
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-03-15
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TransDigm Inc
        88Q84GB3X55CF5OC7582
        TransDigm, Inc.
        893647BE6
        
          
        
        200000.00000000
        PA
        USD
        205625.00000000
        0.210872475236
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-03-15
          Fixed
          6.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FHLMC Multifamily Structured Pass Through Certs.
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
        3137FBTG1
        
          
        
        211084.60000000
        PA
        USD
        210534.05000000
        0.215906802407
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2025-11-25
          Fixed
          2.98200000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AIR LEASE CORP
        5493004NW4M4P8TMMK63
        Air Lease Corp.
        00914AAM4
        
          
        
        250000.00000000
        PA
        USD
        230072.49000000
        0.235943856292
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-08-15
          Fixed
          1.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        31292LV28
        
          
        
        677032.55000000
        PA
        USD
        677609.60000000
        0.694901950617
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-09-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CCO HLDGS LLC/CAP CORP
        N/A
        CCO Holdings LLC/CCO Holdings Capital Corp.
        1248EPCD3
        
          
        
        200000.00000000
        PA
        USD
        191929.00000000
        0.196826958295
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-03-01
          Fixed
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418AF52
        
          
        
        146687.68000000
        PA
        USD
        153618.77000000
        0.157539065155
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-06-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CHARTER COMM OPT LLC/CAP
        N/A
        Charter Communications Operating LLC/Charter Communications Operating Capital
        161175AY0
        
          
        
        400000.00000000
        PA
        USD
        415263.05000000
        0.425860412049
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-07-23
          Fixed
          4.90800000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Chesapeake Funding II LLC
        5493000HT7H4OFOD6Z12
        Chesapeake Funding II LLC
        165183BV5
        
          
        
        100000.00000000
        PA
        USD
        100072.32000000
        0.102626129220
        Long
        ABS-O
        CORP
        US
        
        N
        
        2
        
          2031-01-15
          Fixed
          3.62000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JPMorgan Chase Bank, NA - CACLN
        N/A
        JPMorgan Chase Bank NA - CACLN
        46591HAU4
        
          
        
        119256.99000000
        PA
        USD
        117720.67000000
        0.120724858695
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2028-02-25
          Fixed
          0.84000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DELL INT LLC / EMC CORP
        N/A
        Dell International LLC/EMC Corp.
        24703DBG5
        
          
        
        275000.00000000
        PA
        USD
        223800.04000000
        0.229511335648
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2051-12-15
          Fixed
          3.45000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VERIZON COMMUNICATIONS
        2S72QS2UO2OESLG6Y829
        Verizon Communications, Inc.
        92343VCQ5
        
          
        
        300000.00000000
        PA
        USD
        319234.00000000
        0.327380735608
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2034-11-01
          Fixed
          4.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Note
        91282CAE1
        
          
        
        2250000.00000000
        PA
        USD
        1956005.87000000
        2.005922428611
        Long
        DBT
        UST
        US
        N
        
        2
        
          2030-08-15
          Fixed
          0.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AFFILIATED MANAGERS GROU
        2JE75BUE3T1BLCYYGK54
        Affiliated Managers Group, Inc.
        008252AM0
        
          
        
        250000.00000000
        PA
        USD
        256255.57000000
        0.262795118973
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-02-15
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ALLY FINANCIAL INC
        549300JBN1OSM8YNAI90
        Ally Financial, Inc.
        02005NBM1
        
          
        
        250000.00000000
        PA
        USD
        234063.75000000
        0.240036971796
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-05-15
          Fixed
          4.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GENERAL MILLS INC
        2TGYMUGI08PO8X8L6150
        General Mills, Inc.
        370334CL6
        
          
        
        200000.00000000
        PA
        USD
        192151.52000000
        0.197055156925
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-04-15
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        MARVELL TECHNOLOGY INC
        N/A
        Marvell Technology, Inc.
        573874AL8
        
          
        
        400000.00000000
        PA
        USD
        406599.46000000
        0.416975730382
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-06-22
          Fixed
          4.20000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association REMICS
        31397SD27
        
          
        
        235271.52000000
        PA
        USD
        241384.30000000
        0.247544339570
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2031-05-25
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CARNIVAL CORP
        F1OF2ZSX47CR0BCWA982
        Carnival Corp.
        143658BN1
        
          
        
        150000.00000000
        PA
        USD
        142900.50000000
        0.146547268802
        Long
        DBT
        CORP
        PA
        
        N
        
        2
        
          2027-03-01
          Fixed
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Bond
        912810RM2
        
          
        
        750000.00000000
        PA
        USD
        798632.81000000
        0.819013628933
        Long
        DBT
        UST
        US
        N
        
        2
        
          2045-05-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JPMorgan Chase Bank, NA - CACLN
        N/A
        JPMorgan Chase Bank NA - CACLN
        48128U2M0
        
          
        
        184348.15000000
        PA
        USD
        180908.45000000
        0.185525167866
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2028-12-26
          Fixed
          0.88900000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CIM Trust
        N/A
        CIM Trust
        12564EAD4
        
          
        
        323411.95000000
        PA
        USD
        310363.38000000
        0.318283740611
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2051-04-25
          Variable
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31416XJ27
        
          
        
        521301.42000000
        PA
        USD
        545845.11000000
        0.559774878741
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-01-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31385JF86
        
          
        
        116536.68000000
        PA
        USD
        127076.39000000
        0.130319333268
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2032-06-01
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FIFTH THIRD BANCORP
        THRNG6BD57P9QWTQLG42
        Fifth Third Bancorp
        316773DA5
        
          
        
        175000.00000000
        PA
        USD
        169339.89000000
        0.173661382421
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-05-05
          Fixed
          2.55000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        TRUIST BANK
        JJKC32MCHWDI71265Z06
        Truist Bank
        89788KAA4
        
          
        
        325000.00000000
        PA
        USD
        297940.88000000
        0.305544222928
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-03-11
          Fixed
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31408F5W5
        
          
        
        66349.03000000
        PA
        USD
        71621.56000000
        0.073449316170
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-12-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Liberty Mutual Group Inc
        QUR0DG15Z6FFGYCHH861
        Liberty Mutual Group, Inc.
        53079EBE3
        
          
        
        166000.00000000
        PA
        USD
        168639.53000000
        0.172943149489
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-06-15
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ROYALTY PHARMA PLC
        549300FGFN7VOK8BZR03
        Royalty Pharma PLC
        78081BAM5
        
          
        
        250000.00000000
        PA
        USD
        207341.31000000
        0.212632584843
        Long
        DBT
        CORP
        GB
        
        N
        
        2
        
          2050-09-02
          Fixed
          3.55000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VERIZON COMMUNICATIONS
        2S72QS2UO2OESLG6Y829
        Verizon Communications, Inc.
        92343VES9
        
          
        
        300000.00000000
        PA
        USD
        312135.00000000
        0.320100571709
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2029-02-08
          Fixed
          3.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GARTNER INC
        PP55B5R38BFB8O8HH686
        Gartner, Inc.
        366651AC1
        
          
        
        150000.00000000
        PA
        USD
        149968.50000000
        0.153795641592
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Note
        91282CDJ7
        
          
        
        2500000.00000000
        PA
        USD
        2294921.88000000
        2.353487451959
        Long
        DBT
        UST
        US
        N
        
        2
        
          2031-11-15
          Fixed
          1.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Citrix Systems Inc
        HCTKJGUQOPZ5NBK7NP58
        Citrix Systems, Inc.
        177376AE0
        
          
        
        105000.00000000
        PA
        USD
        107467.27000000
        0.110209795656
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FREMF Mortgage Trust
        N/A
        FREMF Mortgage Trust
        30288BAE5
        
          
        
        500000.00000000
        PA
        USD
        502127.30000000
        0.514941406125
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2047-11-25
          Variable
          3.59100000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JP Morgan Mortgage Trust
        N/A
        JP Morgan Mortgage Trust
        46591FAC8
        
          
        
        30013.46000000
        PA
        USD
        30043.87000000
        0.030810578638
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2049-11-25
          Variable
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Note
        9128284N7
        
          
        
        3000000.00000000
        PA
        USD
        3073359.36000000
        3.151790373414
        Long
        DBT
        UST
        US
        N
        
        2
        
          2028-05-15
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ONEOK INC
        2T3D6M0JSY48PSZI1Q41
        ONEOK, Inc.
        682680BD4
        
          
        
        100000.00000000
        PA
        USD
        107594.72000000
        0.110340498133
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-01-15
          Fixed
          5.85000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BLACKROCK INC
        549300LRIF3NWCU26A80
        BlackRock, Inc.
        09247XAS0
        
          
        
        350000.00000000
        PA
        USD
        317249.35000000
        0.325345438062
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2032-02-25
          Fixed
          2.10000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3128PRP86
        
          
        
        69183.92000000
        PA
        USD
        71664.09000000
        0.073492931520
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2025-05-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GCAT
        N/A
        GCAT Trust
        36167TAA7
        
          
        
        254296.80000000
        PA
        USD
        244078.54000000
        0.250307335595
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2066-01-25
          Variable
          0.87400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MAGALLANES INC
        549300DXR29GD4N0A520
        Magallanes, Inc.
        55903VAS2
        
          
        
        75000.00000000
        PA
        USD
        77339.12000000
        0.079312786222
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2062-03-15
          Fixed
          5.39100000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31413KFC0
        
          
        
        238562.98000000
        PA
        USD
        266413.80000000
        0.273212583309
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2037-10-01
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HEALTH CARE SERVICE CORP
        549300TMJ1FKCKECR148
        Health Care Service Corp. A Mutual Legal Reserve Co.
        42218SAF5
        
          
        
        250000.00000000
        PA
        USD
        227182.40000000
        0.232980012246
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-06-01
          Fixed
          2.20000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        REGIONS FINANCIAL CORP
        CW05CS5KW59QTC0DG824
        Regions Financial Corp.
        7591EPAT7
        
          
        
        495000.00000000
        PA
        USD
        442778.42000000
        0.454077964287
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-08-12
          Fixed
          1.80000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31389PM23
        
          
        
        17598.13000000
        PA
        USD
        18896.89000000
        0.019379131762
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2032-03-01
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Dupont De Nemours Inc
        5493004JF0SDFLM8GD76
        DuPont de Nemours, Inc.
        26078JAD2
        
          
        
        300000.00000000
        PA
        USD
        322083.54000000
        0.330302994833
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-11-15
          Fixed
          4.72500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANK OF NY MELLON CORP
        WFLLPEPC7FZXENRZV188
        Bank of New York Mellon Corp.
        064058AL4
        
          
        
        200000.00000000
        PA
        USD
        183500.00000000
        0.188182853280
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-12-20
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DELL INT LLC / EMC CORP
        N/A
        Dell International LLC/EMC Corp.
        24703TAK2
        
          
        
        62000.00000000
        PA
        USD
        90569.59000000
        0.092880893006
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2046-07-15
          Fixed
          8.35000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WISCONSIN ELECTRIC POWER
        AENKIFMULUAWOUU8Q584
        Wisconsin Electric Power Co.
        976656CM8
        
          
        
        250000.00000000
        PA
        USD
        226313.18000000
        0.232088610067
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-06-15
          Fixed
          1.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FISERV INC
        GI7UBEJLXYLGR2C7GV83
        Fiserv, Inc.
        337738AU2
        
          
        
        200000.00000000
        PA
        USD
        196893.20000000
        0.201917842874
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2029-07-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Sequoia Mortgage Trust
        549300DFASAA48I36408
        Sequoia Mortgage Trust
        81745CAB9
        
          
        
        284568.95000000
        PA
        USD
        276028.69000000
        0.283072841806
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2043-06-25
          Variable
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BOEING CO
        RVHJWBXLJ1RFUBSY1F30
        Boeing Co.
        097023DC6
        
          
        
        200000.00000000
        PA
        USD
        194695.55000000
        0.199664109646
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-02-01
          Fixed
          3.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AERCAP IRELAND CAP/GLOBA
        N/A
        AerCap Ireland Capital DAC/AerCap Global Aviation Trust
        00774MAR6
        
          
        
        200000.00000000
        PA
        USD
        203798.26000000
        0.208999117495
        Long
        DBT
        CORP
        IE
        N
        
        2
        
          2027-10-15
          Fixed
          4.62500000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        SBA COMMUNICATIONS CORP
        5299001HX8ZN8Y8QIT49
        SBA Communications Corp.
        78410GAD6
        
          
        
        250000.00000000
        PA
        USD
        243495.00000000
        0.249708903866
        Long
        DBT
        
        US
        N
        
        2
        
          2027-02-15
          Fixed
          3.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138EPKA1
        
          
        
        470395.61000000
        PA
        USD
        515057.66000000
        0.528201744211
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-07-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANK OF AMERICA CORP
        9DJT3UXIJIZJI4WXO774
        Bank of America Corp.
        06051GKL2
        
          
        
        150000.00000000
        PA
        USD
        143667.74000000
        0.147334088488
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2037-03-08
          Fixed
          3.84600000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MPLX LP
        5493000CZJ19CK4P3G36
        MPLX LP
        55336VAS9
        
          
        
        250000.00000000
        PA
        USD
        266556.28000000
        0.273358699347
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2029-02-15
          Fixed
          4.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AVOLON HOLDINGS FNDG LTD
        635400ZRKEX9L1BKCH30
        Avolon Holdings Funding Ltd.
        05401AAM3
        
          
        
        300000.00000000
        PA
        USD
        274239.86000000
        0.281238361515
        Long
        DBT
        CORP
        KY
        
        N
        
        2
        
          2026-02-21
          Fixed
          2.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Liberty Mutual Group Inc
        QUR0DG15Z6FFGYCHH861
        Liberty Mutual Group, Inc.
        53079EBG8
        
          
        
        400000.00000000
        PA
        USD
        424031.27000000
        0.434852393835
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2029-02-01
          Fixed
          4.56900000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3132QSGY8
        
          
        
        389089.04000000
        PA
        USD
        396443.05000000
        0.406560132492
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2045-08-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HUNTINGTON BANCSHARES
        549300XTVCVV9I7B5T19
        Huntington Bancshares, Inc.
        446150AW4
        
          
        
        500000.00000000
        PA
        USD
        435101.17000000
        0.446204793658
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2036-08-15
          Fixed
          2.48700000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PNC BANK NA
        AD6GFRVSDT01YPT1CS68
        PNC Bank NA
        69349LAS7
        
          
        
        125000.00000000
        PA
        USD
        120109.14000000
        0.123174281581
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2029-10-22
          Fixed
          2.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MPLX LP
        5493000CZJ19CK4P3G36
        MPLX LP
        55336VBQ2
        
          
        
        200000.00000000
        PA
        USD
        183230.37000000
        0.187906342421
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-08-15
          Fixed
          2.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31390FC49
        
          
        
        5167.17000000
        PA
        USD
        5306.64000000
        0.005442063523
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2032-05-01
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association REMICS
        3136AMC23
        
          
        
        746403.08000000
        PA
        USD
        66214.61000000
        0.067904382772
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2030-03-25
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TEXTRON INC
        3PPKBHUG1HD6BO7RNR87
        Textron, Inc.
        883203CC3
        
          
        
        250000.00000000
        PA
        USD
        226372.48000000
        0.232149423382
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-03-15
          Fixed
          2.45000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        IRON MOUNTAIN INC
        SQL3F6CKNNBM3SQGHX24
        Iron Mountain, Inc.
        46284VAN1
        
          
        
        125000.00000000
        PA
        USD
        115438.75000000
        0.118384704927
        Long
        DBT
        
        US
        N
        
        2
        
          2031-02-15
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ARCONIC CORP
        549300B4YFWH3U74B152
        Arconic Corp.
        03966VAB3
        
          
        
        150000.00000000
        PA
        USD
        153000.00000000
        0.156904504370
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-05-15
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3133KYU64
        
          
        
        439205.75000000
        PA
        USD
        412364.04000000
        0.422887420368
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-03-01
          Fixed
          2.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3128M6NJ3
        
          
        
        98161.49000000
        PA
        USD
        107553.44000000
        0.110298164683
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2037-01-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3140X9EC5
        
          
        
        359916.60000000
        PA
        USD
        368079.67000000
        0.377472929347
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-11-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418CCV4
        
          
        
        32463.45000000
        PA
        USD
        34113.39000000
        0.034983951309
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2046-10-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Note
        91282CBH3
        
          
        
        1750000.00000000
        PA
        USD
        1614580.08000000
        1.655783576591
        Long
        DBT
        UST
        US
        N
        
        2
        
          2026-01-31
          Fixed
          0.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OMEGA HLTHCARE INVESTORS
        549300OJ7ENK42CZ8E73
        Omega Healthcare Investors, Inc.
        681936BM1
        
          
        
        225000.00000000
        PA
        USD
        206147.92000000
        0.211408739964
        Long
        DBT
        
        US
        N
        
        2
        
          2031-02-01
          Fixed
          3.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac - STACR
        N/A
        Federal Home Loan Mortgage Corp. STACR REMIC Trust
        35564KED7
        
          
        
        377293.63000000
        PA
        USD
        373764.20000000
        0.383302526485
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-10-25
          Floating
          0.84900000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138WDWT4
        
          
        
        72545.18000000
        PA
        USD
        75763.70000000
        0.077697162076
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2045-01-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3140X6QT1
        
          
        
        526218.75000000
        PA
        USD
        506044.93000000
        0.518959012619
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2047-12-01
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MARATHON PETROLEUM CORP
        3BNYRYQHD39K4LCKQF12
        Marathon Petroleum Corp.
        56585ABH4
        
          
        
        275000.00000000
        PA
        USD
        286083.98000000
        0.293384739151
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-05-01
          Fixed
          4.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138WGAK0
        
          
        
        121973.80000000
        PA
        USD
        124344.30000000
        0.127517521325
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2045-12-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AT&T INC
        549300Z40J86GGSTL398
        AT&T, Inc.
        00206RKH4
        
          
        
        500000.00000000
        PA
        USD
        443501.53000000
        0.454819527791
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2032-02-01
          Fixed
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Dell Equipment Finance Trust
        N/A
        Dell Equipment Finance Trust
        24703KAC9
        
          
        
        105614.74000000
        PA
        USD
        105731.42000000
        0.108429647395
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2024-10-22
          Fixed
          1.91000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CNH Equipment Trust
        N/A
        CNH Equipment Trust
        12596JAD5
        
          
        
        225000.00000000
        PA
        USD
        227171.00000000
        0.232968321322
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2026-01-15
          Fixed
          3.22000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        709857.27000000
        NS
        USD
        709857.27000000
        0.727972569431
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CLARIOS GLOBAL LP/US FIN
        N/A
        Clarios Global LP/Clarios U.S. Finance Co.
        69867DAA6
        
          
        
        150000.00000000
        PA
        USD
        154312.50000000
        0.158250498893
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-05-15
          Fixed
          6.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3132GKF92
        
          
        
        255774.90000000
        PA
        USD
        267368.46000000
        0.274191605885
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-10-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SABINE PASS LIQUEFACTION
        549300KJYBG7C6WJYZ11
        Sabine Pass Liquefaction LLC
        785592AX4
        
          
        
        250000.00000000
        PA
        USD
        261472.52000000
        0.268145203640
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-05-15
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Donlen Fleet Lease Funding
        549300ZWUQETU54FDP26
        Donlen Fleet Lease Funding 2 LLC
        257812AD9
        
          
        
        391689.57000000
        PA
        USD
        384255.50000000
        0.394061560647
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2034-12-11
          Fixed
          0.56000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31385XQ91
        
          
        
        154400.04000000
        PA
        USD
        167578.75000000
        0.171855298769
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2033-11-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JEFFERIES GRP LLC / CAP
        N/A
        Jefferies Group LLC/Jefferies Group Capital Finance, Inc.
        47233JGT9
        
          
        
        250000.00000000
        PA
        USD
        225369.69000000
        0.231121042545
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-10-15
          Fixed
          2.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AES CORP/THE
        2NUNNB7D43COUIRE5295
        AES Corp.
        00130HCE3
        
          
        
        450000.00000000
        PA
        USD
        414298.72000000
        0.424871472698
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-01-15
          Fixed
          1.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STORE Capital Corp
        5493004EA6C9IHDZ7N66
        STORE Capital Corp.
        862121AA8
        
          
        
        200000.00000000
        PA
        USD
        205369.59000000
        0.210610547265
        Long
        DBT
        
        US
        N
        
        2
        
          2028-03-15
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418BXB7
        
          
        
        294084.15000000
        PA
        USD
        297994.42000000
        0.305599129249
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-12-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        M&T BANK CORPORATION
        549300WYXDDBYRASEG81
        M&T Bank Corp.
        55261FAJ3
        
          
        
        250000.00000000
        PA
        USD
        252916.40000000
        0.259370734569
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-07-26
          Fixed
          3.55000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        OTIS WORLDWIDE CORP
        549300ZLBKR8VSU25153
        Otis Worldwide Corp.
        68902VAK3
        
          
        
        300000.00000000
        PA
        USD
        280413.52000000
        0.287569571073
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-02-15
          Fixed
          2.56500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Verizon Owner Trust
        549300XY7L2MRX0BQH89
        Verizon Owner Trust
        92348TAC8
        
          
        
        250000.00000000
        PA
        USD
        249373.30000000
        0.255737215945
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2024-07-22
          Fixed
          1.98000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3128MJWP1
        
          
        
        283957.96000000
        PA
        USD
        283064.53000000
        0.290288233885
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2045-07-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SPIRIT AEROSYSTEMS INC
        ZD2NBKV6GCC3UMGBM518
        Spirit AeroSystems, Inc.
        85205TAM2
        
          
        
        175000.00000000
        PA
        USD
        175437.50000000
        0.179914601212
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-01-15
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3128PQ4F5
        
          
        
        34629.90000000
        PA
        USD
        35773.76000000
        0.036686693348
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2025-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3132L5A37
        
          
        
        848260.80000000
        PA
        USD
        848461.40000000
        0.870113826433
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2043-04-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PHILLIPS 66
        5493005JBO5YSIGK1814
        Phillips 66
        718546AW4
        
          
        
        250000.00000000
        PA
        USD
        222086.47000000
        0.227754035965
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-12-15
          Fixed
          2.15000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3133L7SJ7
        
          
        
        209005.75000000
        PA
        USD
        207030.35000000
        0.212313689257
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-06-01
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3132A9S65
        
          
        
        124347.94000000
        PA
        USD
        123108.36000000
        0.126250040585
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2032-02-01
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31410QK75
        
          
        
        228025.70000000
        PA
        USD
        245935.72000000
        0.252211910153
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-10-01
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        J.P. Morgan Wealth Management
        N/A
        JPMorgan Wealth Management
        46652HAC0
        
          
        
        161626.36000000
        PA
        USD
        158007.66000000
        0.162039958032
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2050-02-25
          Variable
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Enterprise Fleet Financing LLC
        N/A
        Enterprise Fleet Financing LLC
        29374WAB2
        
          
        
        154663.14000000
        PA
        USD
        154756.60000000
        0.158705932163
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2025-05-20
          Fixed
          2.06000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Zoetis Inc
        549300HD9Q1LOC9KLJ48
        Zoetis, Inc.
        98978VAL7
        
          
        
        300000.00000000
        PA
        USD
        299284.93000000
        0.306922572595
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-09-12
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AMERICAN AIRLINES/AADVAN
        N/A
        American Airlines, Inc./AAdvantage Loyalty IP Ltd.
        00253XAA9
        
          
        
        200000.00000000
        PA
        USD
        201520.00000000
        0.206662717128
        Long
        DBT
        CORP
        XX
        
        N
        
        2
        
          2026-04-20
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MORGAN STANLEY
        IGJSJL3JD5P30I6NJZ34
        Morgan Stanley
        6174468Q5
        
          
        
        175000.00000000
        PA
        USD
        169238.45000000
        0.173557353710
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-04-28
          Fixed
          2.18800000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association REMICS
        3136ARZG6
        
          
        
        86357.56000000
        PA
        USD
        86838.02000000
        0.089054094696
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-03-25
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UBS GROUP AG
        549300SZJ9VS8SGXAN81
        UBS Group AG
        902613AD0
        
          
        
        200000.00000000
        PA
        USD
        180500.00000000
        0.185106294371
        Long
        DBT
        CORP
        CH
        N
        
        2
        
          2031-02-10
          Fixed
          4.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KEURIG DR PEPPER INC
        DYTQ8KRTKO7Y2BVU5K74
        Keurig Dr Pepper, Inc.
        49271VAK6
        
          
        
        300000.00000000
        PA
        USD
        284830.44000000
        0.292099209266
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-05-01
          Fixed
          3.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JPMORGAN CHASE & CO
        8I5DZWZKVSZI1NUHU748
        JPMorgan Chase & Co.
        46647PBW5
        
          
        
        400000.00000000
        PA
        USD
        366971.38000000
        0.376336356189
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-02-04
          Fixed
          1.04000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        31292HDJ0
        
          
        
        6564.40000000
        PA
        USD
        7290.69000000
        0.007476745757
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2030-06-01
          Fixed
          8.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138ETSG2
        
          
        
        140757.41000000
        PA
        USD
        146231.54000000
        0.149963315732
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-06-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31411AVB8
        
          
        
        230577.02000000
        PA
        USD
        257412.47000000
        0.263981542640
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-11-01
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Santander Revolving Auto Loan Trust
        N/A
        Santander Revolving Auto Loan Trust
        80286JAC9
        
          
        
        300000.00000000
        PA
        USD
        295093.44000000
        0.302624117294
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2032-01-26
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BERKSHIRE HATHAWAY ENERG
        549300JD0S5IZJE9LY15
        Berkshire Hathaway Energy Co.
        084659BD2
        
          
        
        200000.00000000
        PA
        USD
        174188.36000000
        0.178633583613
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-05-15
          Fixed
          1.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        QUANTA SERVICES INC
        SHVRXXEACT60MMH07S24
        Quanta Services, Inc.
        74762EAF9
        
          
        
        250000.00000000
        PA
        USD
        231334.97000000
        0.237238554322
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-10-01
          Fixed
          2.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Government National Mortgage Association
        36202DAP6
        
          
        
        21986.19000000
        PA
        USD
        23679.65000000
        0.024283946058
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2029-02-20
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LOWE'S COS INC
        WAFCR4OKGSC504WU3E95
        Lowe's Cos., Inc.
        548661EJ2
        
          
        
        250000.00000000
        PA
        USD
        258739.58000000
        0.265342520005
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2052-04-01
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp.
        3132L5A29
        
          
        
        856718.19000000
        PA
        USD
        853194.02000000
        0.874967221174
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2043-04-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TRUIST FINANCIAL CORP
        549300DRQQI75D2JP341
        Truist Financial Corp.
        89788MAD4
        
          
        
        300000.00000000
        PA
        USD
        278146.63000000
        0.285244830865
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-03-02
          Fixed
          1.26700000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PRUDENTIAL FINANCIAL INC
        5PRBRS5FEH7NREC8OR45
        Prudential Financial, Inc.
        744320BH4
        
          
        
        250000.00000000
        PA
        USD
        229100.00000000
        0.234946548700
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-10-01
          Fixed
          3.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31388K3Y6
        
          
        
        14031.65000000
        PA
        USD
        15000.92000000
        0.015383738024
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2031-11-01
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BLOCK INC
        549300OHIIUWSTIZME52
        Block, Inc.
        852234AL7
        
          
        
        300000.00000000
        PA
        USD
        283566.00000000
        0.290802501217
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-06-01
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ENTERPRISE PRODUCTS OPER
        5493004LGN656HWLDA30
        Enterprise Products Operating LLC
        29379VBE2
        
          
        
        500000.00000000
        PA
        USD
        509462.09000000
        0.522463377299
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-02-15
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association REMICS
        31397SHK3
        
          
        
        157249.99000000
        PA
        USD
        158976.19000000
        0.163033204566
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2031-04-25
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association REMICS
        3136BAN34
        
          
        
        2011916.52000000
        PA
        USD
        344170.31000000
        0.352953411173
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-12-25
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LAM RESEARCH CORP
        549300I4GMO6D34U1T02
        Lam Research Corp.
        512807AV0
        
          
        
        350000.00000000
        PA
        USD
        317224.80000000
        0.325320261555
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-06-15
          Fixed
          1.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Citigroup Inc
        6SHGI4ZSSLCXXQSBB395
        Citigroup, Inc.
        172967LW9
        
          
        
        300000.00000000
        PA
        USD
        306288.38000000
        0.314104748093
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2029-04-23
          Fixed
          4.07500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LIBERTY MUTUAL GROUP INC
        QUR0DG15Z6FFGYCHH861
        Liberty Mutual Group, Inc.
        53079EBK9
        
          
        
        150000.00000000
        PA
        USD
        136394.69000000
        0.139875432896
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2060-05-15
          Fixed
          3.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CENTENE CORP
        549300Z7JJ4TQSQGT333
        Centene Corp.
        15135BAY7
        
          
        
        300000.00000000
        PA
        USD
        274110.00000000
        0.281105187535
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-07-15
          Fixed
          2.45000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FHLMC Multifamily Structured Pass Through Certs.
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
        3137BSRG0
        
          
        
        11600876.75000000
        PA
        USD
        136051.60000000
        0.139523587364
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2026-09-25
          Variable
          0.30800000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418DY89
        
          
        
        454685.14000000
        PA
        USD
        440111.79000000
        0.451343282859
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-05-01
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Government National Mortgage Association
        38379LH33
        
          
        
        103143.76000000
        PA
        USD
        1961.42000000
        0.002011474725
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2044-09-20
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T-MOBILE USA INC
        549300V2JRLO5DIFGE82
        T-Mobile USA, Inc.
        87264ABU8
        
          
        
        225000.00000000
        PA
        USD
        215590.50000000
        0.221092291172
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-04-15
          Fixed
          2.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JPMorgan Chase Bank, NA - CACLN
        N/A
        JPMorgan Chase Bank NA - CACLN
        46591HBR0
        
          
        
        157543.88000000
        PA
        USD
        154772.34000000
        0.158722073842
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2028-09-25
          Fixed
          0.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GOLDMAN SACHS GROUP INC
        784F5XWPLTWKTBV3E584
        Goldman Sachs Group, Inc.
        38141GYM0
        
          
        
        400000.00000000
        PA
        USD
        372261.57000000
        0.381761549914
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-10-21
          Fixed
          1.94800000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WRKCo Inc
        549300JEB576INN13W07
        WRKCo, Inc.
        92940PAE4
        
          
        
        450000.00000000
        PA
        USD
        451804.58000000
        0.463334468608
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2028-06-01
          Fixed
          3.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Note
        912828M56
        
          
        
        3000000.00000000
        PA
        USD
        2972929.68000000
        3.048797764496
        Long
        DBT
        UST
        US
        N
        
        2
        
          2025-11-15
          Fixed
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EASTERN GAS TRAN
        H2VQBNB3NSKRM5QWBI71
        Eastern Gas Transmission & Storage, Inc.
        276480AG5
        
          
        
        150000.00000000
        PA
        USD
        144444.42000000
        0.148130589079
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2029-11-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31410YYU2
        
          
        
        74181.12000000
        PA
        USD
        78984.97000000
        0.081000637716
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-10-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138LUS22
        
          
        
        525676.30000000
        PA
        USD
        535701.57000000
        0.549372479288
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-06-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association REMICS
        31394FHV0
        
          
        
        226358.00000000
        PA
        USD
        246448.74000000
        0.252738022237
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-09-25
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138ET4J2
        
          
        
        192346.22000000
        PA
        USD
        193951.59000000
        0.198901164057
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2030-12-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418CNQ3
        
          
        
        56146.44000000
        PA
        USD
        57692.38000000
        0.059164668561
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2032-08-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CAPITAL ONE FINANCIAL CO
        ZUE8T73ROZOF6FLBAR73
        Capital One Financial Corp.
        14040HCF0
        
          
        
        250000.00000000
        PA
        USD
        231875.00000000
        0.237792365691
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-09-01
          Fixed
          3.95000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        7-ELEVEN INC
        549300K23JPL0SS3LB18
        7-Eleven, Inc.
        817826AE0
        
          
        
        300000.00000000
        PA
        USD
        258423.16000000
        0.265018025082
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-02-10
          Fixed
          1.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Wells Fargo Mortgage Backed Securities Trust
        N/A
        Wells Fargo Mortgage-Backed Securities Trust
        95002JAA4
        
          
        
        12911.57000000
        PA
        USD
        12909.62000000
        0.013239068808
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2049-04-25
          Variable
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Metropolitan Transportation Authority
        5493000TKYODLXADQD60
        Metropolitan Transportation Authority
        59259YCA5
        
          
        
        1000000.00000000
        PA
        USD
        1170091.50000000
        1.199951809642
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2031-11-15
          Fixed
          6.54800000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INTERSTATE POWER & LIGHT
        EF9UQIIO4KY2BWOK3P26
        Interstate Power & Light Co.
        461070AR5
        
          
        
        225000.00000000
        PA
        USD
        204343.29000000
        0.209558056462
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2049-09-30
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31416YT81
        
          
        
        218811.51000000
        PA
        USD
        233064.92000000
        0.239012652017
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31407NNQ2
        
          
        
        221083.75000000
        PA
        USD
        235096.57000000
        0.241096148986
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-09-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Woodward Capital Management
        N/A
        RCKT Mortgage Trust
        74939KAE6
        
          
        
        314662.10000000
        PA
        USD
        300514.58000000
        0.308183602816
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2051-12-25
          Variable
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418AAV0
        
          
        
        50052.33000000
        PA
        USD
        50723.03000000
        0.052017463283
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2031-12-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HP INC
        WHKXQACZ14C5XRO8LW03
        HP, Inc.
        40434LAJ4
        
          
        
        400000.00000000
        PA
        USD
        357932.65000000
        0.367066961086
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-06-17
          Fixed
          2.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PERFORMANCE FOOD GROUP I
        549300OMUOGBYK0FFO76
        Performance Food Group, Inc.
        69346VAA7
        
          
        
        150000.00000000
        PA
        USD
        149437.50000000
        0.153251090665
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-10-15
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Note
        912828X88
        
          
        
        2000000.00000000
        PA
        USD
        1993750.00000000
        2.044629775086
        Long
        DBT
        UST
        US
        N
        
        2
        
          2027-05-15
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BOEING CO
        RVHJWBXLJ1RFUBSY1F30
        Boeing Co.
        097023CW3
        
          
        
        350000.00000000
        PA
        USD
        403966.69000000
        0.414275773049
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-05-01
          Fixed
          5.80500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Bond
        912810RS9
        
          
        
        500000.00000000
        PA
        USD
        490859.38000000
        0.503385932904
        Long
        DBT
        UST
        US
        N
        
        2
        
          2046-05-15
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        U.S. Treasury Bond
        912810PX0
        
          
        
        2000000.00000000
        PA
        USD
        2565546.88000000
        2.631018703562
        Long
        DBT
        UST
        US
        N
        
        2
        
          2038-05-15
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Aflac Inc
        549300N0B7DOGLXWPP39
        Aflac, Inc.
        001055AY8
        
          
        
        400000.00000000
        PA
        USD
        456574.94000000
        0.468226566461
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2049-01-15
          Fixed
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138M5LP2
        
          
        
        243414.69000000
        PA
        USD
        248057.18000000
        0.254387509041
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-08-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SOUTHWEST AIRLINES CO
        UDTZ87G0STFETI6HGH41
        Southwest Airlines Co.
        844741BJ6
        
          
        
        350000.00000000
        PA
        USD
        367948.00000000
        0.377337899176
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-05-04
          Fixed
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac - STACR
        N/A
        Federal Home Loan Mortgage Corp. STACR REMIC Trust
        35564KGX1
        
          
        
        22243.01000000
        PA
        USD
        22202.83000000
        0.022769438148
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2034-01-25
          Floating
          0.74900000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp. REMICS
        3137ARDX1
        
          
        
        782857.28000000
        PA
        USD
        38450.82000000
        0.039432070945
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2027-06-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CAPITAL ONE FINANCIAL CO
        ZUE8T73ROZOF6FLBAR73
        Capital One Financial Corp.
        14040HCN3
        
          
        
        250000.00000000
        PA
        USD
        241574.43000000
        0.247739321618
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-03-01
          Fixed
          3.27300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TD SYNNEX CORP
        5493004HI6PFLF46NS53
        TD SYNNEX Corp.
        87162WAJ9
        
          
        
        200000.00000000
        PA
        USD
        171773.81000000
        0.176157415175
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-08-09
          Fixed
          2.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NASDAQ INC
        549300L8X1Q78ERXFD06
        NASDAQ, Inc.
        63111XAD3
        
          
        
        200000.00000000
        PA
        USD
        168639.35000000
        0.172942964895
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2031-01-15
          Fixed
          1.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3138MBFD3
        
          
        
        356805.05000000
        PA
        USD
        373090.00000000
        0.382611121147
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2042-10-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VIATRIS INC
        254900ZZTSW7NL773X71
        Viatris, Inc.
        92556VAD8
        
          
        
        400000.00000000
        PA
        USD
        351872.21000000
        0.360851860860
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-06-22
          Fixed
          2.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31407FW71
        
          
        
        179191.61000000
        PA
        USD
        192144.05000000
        0.197047496293
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-08-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TEACHERS INSUR & ANNUITY
        O06XD7BJ4EPXNABVFN69
        Teachers Insurance & Annuity Association of America
        878091BG1
        
          
        
        300000.00000000
        PA
        USD
        265449.20000000
        0.272223367068
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-05-15
          Fixed
          3.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MORGAN STANLEY
        IGJSJL3JD5P30I6NJZ34
        Morgan Stanley
        6174468X0
        
          
        
        250000.00000000
        PA
        USD
        216116.71000000
        0.221631929860
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2032-04-28
          Fixed
          1.92800000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31406UL48
        
          
        
        273537.16000000
        PA
        USD
        296675.92000000
        0.304246981609
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-09-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fanniemae-Aces
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association-Aces
        3136AY6U2
        
          
        
        236447.80000000
        PA
        USD
        237670.64000000
        0.243735908317
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2027-11-25
          Variable
          3.16100000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BERKSHIRE HATHAWAY FIN
        549300RLHFT5RU20WM87
        Berkshire Hathaway Finance Corp.
        084664DB4
        
          
        
        225000.00000000
        PA
        USD
        229946.14000000
        0.235814281885
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2052-03-15
          Fixed
          3.85000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ROYALTY PHARMA PLC
        549300FGFN7VOK8BZR03
        Royalty Pharma PLC
        78081BAK9
        
          
        
        200000.00000000
        PA
        USD
        174882.54000000
        0.179345478834
        Long
        DBT
        CORP
        GB
        
        N
        
        2
        
          2030-09-02
          Fixed
          2.20000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        31418BM37
        
          
        
        531816.25000000
        PA
        USD
        554068.03000000
        0.568207644670
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2035-02-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TRACTOR SUPPLY CO
        549300OJ9VZHZRO6I137
        Tractor Supply Co.
        892356AA4
        
          
        
        200000.00000000
        PA
        USD
        171818.27000000
        0.176203009778
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-11-01
          Fixed
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Santander Consumer Auto Receivables Trust
        N/A
        Santander Consumer Auto Receivables Trust
        802830AG4
        
          
        
        124963.07000000
        PA
        USD
        124558.06000000
        0.127736736402
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2024-08-15
          Fixed
          0.46000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WEYERHAEUSER CO
        08IRJODWFYBI7QWRGS31
        Weyerhaeuser Co.
        962166CA0
        
          
        
        250000.00000000
        PA
        USD
        243522.36000000
        0.249736962084
        Long
        DBT
        
        US
        N
        
        2
        
          2033-03-09
          Fixed
          3.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Discover Bank
        X05BVSK68TQ7YTOSNR22
        Discover Bank
        25466AAJ0
        
          
        
        75000.00000000
        PA
        USD
        74661.52000000
        0.076566854843
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-07-27
          Fixed
          3.45000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BELROSE FUNDING TRUST
        N/A
        Belrose Funding Trust
        080807AA8
        
          
        
        200000.00000000
        PA
        USD
        175195.06000000
        0.179665974231
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-08-15
          Fixed
          2.33000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        QVC INC
        549300WBLU5NKPX5X472
        QVC, Inc.
        747262AY9
        
          
        
        225000.00000000
        PA
        USD
        215437.50000000
        0.220935386668
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-02-15
          Fixed
          4.75000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        SUNOCO LP/FINANCE CORP
        N/A
        Sunoco LP/Sunoco Finance Corp.
        86765LAQ0
        
          
        
        150000.00000000
        PA
        USD
        152812.50000000
        0.156712219438
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-04-15
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SYSCO CORPORATION
        5RGWIFLMGH3YS7KWI652
        Sysco Corp.
        871829BL0
        
          
        
        199000.00000000
        PA
        USD
        230654.29000000
        0.236540503616
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-04-01
          Fixed
          5.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HILTON DOMESTIC OPERATIN
        5493003EG7H0N1E4XV50
        Hilton Domestic Operating Co., Inc.
        432833AG6
        
          
        
        200000.00000000
        PA
        USD
        204610.00000000
        0.209831572805
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-05-01
          Fixed
          5.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
    
    
      2022-04-22
      ULTRA SERIES FUND
      Greg Hoppe
      Greg Hoppe
      Chief Financial Officer
    
  
  XXXX



Ultra Series Fund | March 31, 2022
Conservative Allocation Fund Portfolio of Investments (unaudited)

SharesValue (Note 1,3)
INVESTMENT COMPANIES - 95.4%
Alternative Funds - 1.2%
Invesco Optimum Yield Diversified Commodity Strategy94,741$1,671,231
Bond Funds - 62.0%
Baird Aggregate Bond Fund Institutional Shares266,5602,825,540
iShares 20+ Year Treasury Bond ETF92,80212,257,288
Janus Henderson Mortgage-Backed Securities ETF170,5708,514,002
Madison Core Bond Fund Class R6 (A)3,754,00036,188,565
Schwab Intermediate-Term U.S. Treasury ETF282,70915,054,254
Vanguard Short-Term Corporate Bond ETF (B)164,01312,807,775
87,647,424
Foreign Stock Funds - 6.0%
iShares MSCI International Quality Factor ETF47,9041,766,221
iShares MSCI United Kingdom ETF21,327717,440
Vanguard FTSE All-World ex-U.S. ETF104,2476,003,585
8,487,246
Stock Funds - 26.2%
Invesco S&P 500 Quality ETF99,1984,950,972
iShares Core S&P Small-Cap ETF32,8673,545,692
iShares Core S&P U.S. Growth ETF20,1442,128,415
Madison Dividend Income Fund Class R6 (A)139,1774,494,040
Madison Investors Fund Class R6 (A)352,1999,361,460
Schwab U.S. Dividend Equity ETF45,0193,551,549
VanEck Gold Miners ETF74,3422,851,016
Vanguard Information Technology ETF14,8236,173,483
37,056,627
Total Investment Companies
( Cost $131,686,428 )
134,862,528
SHORT-TERM INVESTMENTS - 12.4%
State Street Institutional U.S. Government Money Market Fund, 0.25%, Premier Class (C)8,953,8028,953,802
State Street Navigator Securities Lending Government Money Market Portfolio, 0.25% (C) (D)8,604,0688,604,068
Total Short-Term Investments
( Cost $17,557,870 )
17,557,870
TOTAL INVESTMENTS - 107.8% ( Cost $149,244,298 )
152,420,398
NET OTHER ASSETS AND LIABILITIES - (7.8%)
(11,035,634)
TOTAL NET ASSETS - 100.0%
$141,384,764
(A)Affiliated Company.
(B)All or a portion of these securities, with an aggregate fair value of $8,424,974, are on loan as part of a securities lending program. See footnote (D) and Note 4 for details on the securities lending program.
(C)7-day yield.
(D)Represents investments of cash collateral received in connection with securities lending.
ETFExchange Traded Fund.
FTSEThe Financial Times Stock Exchange.

See accompanying Notes to Portfolios of Investments.
        1

Ultra Series Fund | March 31, 2022
Moderate Allocation Fund Portfolio of Investments (unaudited)

SharesValue (Note 1,3)
INVESTMENT COMPANIES - 93.8%
Alternative Funds - 1.8%
Invesco Optimum Yield Diversified Commodity Strategy149,771$2,641,960
Bond Funds - 35.3%
iShares 20+ Year Treasury Bond ETF63,7398,418,647
Janus Henderson Mortgage-Backed Securities ETF90,4394,514,263
Madison Core Bond Fund Class R6 (A)2,592,99724,996,490
Schwab Intermediate-Term U.S. Treasury ETF141,6017,540,253
Vanguard Short-Term Corporate Bond ETF (B)96,0427,499,920
52,969,573
Foreign Stock Funds - 10.8%
iShares MSCI International Quality Factor ETF91,4123,370,360
iShares MSCI United Kingdom ETF (B)44,6781,502,968
Vanguard FTSE All World ex-U.S. ETF195,34911,250,149
16,123,477
Stock Funds - 45.9%
Invesco S&P 500 Quality ETF150,3177,502,322
iShares Core S&P Small-Cap ETF70,4257,597,449
iShares Core S&P U.S. Growth ETF (B)31,0223,277,785
Madison Dividend Income Fund Class R6 (A)338,30510,923,867
Madison Investors Fund Class R6 (A)637,89616,955,285
Madison Mid Cap Fund Class R6 (A)107,1131,494,230
Schwab U.S. Dividend Equity ETF (B)42,9723,390,061
VanEck Gold Miners ETF145,7985,591,353
Vanguard Information Technology ETF29,07112,107,490
68,839,842
Total Investment Companies
( Cost $127,090,938 )
140,574,852
SHORT-TERM INVESTMENTS - 12.1%
State Street Institutional U.S. Government Money Market Fund, 0.25%, Premier Class (C)8,141,7498,141,749
State Street Navigator Securities Lending Government Money Market Portfolio, 0.25% (C) (D)9,894,2639,894,263
Total Short-Term Investments
( Cost $18,036,012 )
18,036,012
TOTAL INVESTMENTS - 105.9% ( Cost $145,126,950 )
158,610,864
NET OTHER ASSETS AND LIABILITIES - (5.9%)
(8,769,386)
TOTAL NET ASSETS - 100.0%
$149,841,478
(A)Affiliated Company.
(B)All or a portion of these securities, with an aggregate fair value of $9,929,769, are on loan as part of a securities lending program. See footnote (D) and Note 4 for details on the securities lending program.
(C)7-day yield.
(D)Represents investments of cash collateral received in connection with securities lending.
ETFExchange Traded Fund.
FTSEThe Financial Times Stock Exchange.

See accompanying Notes to Portfolios of Investments.
        2

Ultra Series Fund | March 31, 2022
Aggressive Allocation Fund Portfolio of Investments (unaudited)

SharesValue (Note 1,3)
INVESTMENT COMPANIES - 95.4%
Alternative Funds - 2.5%
Invesco Optimum Yield Diversified Commodity Strategy69,381$1,223,881
Bond Funds - 17.3%
iShares 20+ Year Treasury Bond ETF11,4031,506,108
Janus Henderson Mortgage-Backed Securities ETF14,973747,378
Madison Core Bond Fund Class R6 (A)372,9303,595,049
Schwab Intermediate-Term U.S. Treasury ETF (B)23,4431,248,340
Vanguard Short-Term Corporate Bond ETF (B)19,0801,489,957
8,586,832
Foreign Stock Funds - 14.6%
iShares MSCI International Quality Factor ETF45,8041,688,793
iShares MSCI United Kingdom ETF21,684729,450
Vanguard FTSE All World ex-U.S. ETF84,1854,848,214
7,266,457
Stock Funds - 61.0%
Invesco S&P 500 Quality ETF79,3153,958,612
iShares Core S&P Small-Cap ETF30,8303,325,940
iShares Core S&P U.S. Growth ETF (B)20,0272,116,053
Madison Dividend Income Fund Class R6 (A)145,2904,691,417
Madison Investors Fund Class R6 (A)234,7686,240,123
Madison Mid Cap Fund Class R6 (A)44,774624,596
Schwab U.S. Dividend Equity ETF (B)20,3081,602,098
VanEck Gold Miners ETF74,0222,838,744
Vanguard Information Technology ETF (B)11,5844,824,504
30,222,087
Total Investment Companies
( Cost $41,626,025 )
47,299,257
SHORT-TERM INVESTMENTS - 19.1%
State Street Institutional U.S. Government Money Market Fund, 0.25%, Premier Class (C)1,739,1921,739,192
State Street Navigator Securities Lending Government Money Market Portfolio, 0.25% (C) (D)7,716,4287,716,428
Total Short-Term Investments
( Cost $9,455,620 )
9,455,620
TOTAL INVESTMENTS - 114.5% ( Cost $51,081,645 )
56,754,877
NET OTHER ASSETS AND LIABILITIES - (14.5%)
(7,177,604)
TOTAL NET ASSETS - 100.0%
$49,577,273
(A)Affiliated Company.
(B)All or a portion of these securities, with an aggregate fair value of $11,427,171, are on loan as part of a securities lending program. See footnote (D) and Note 4 for details on the securities lending program.
(C)7-day yield.
(D)Represents investments of cash collateral received in connection with securities lending.
ETFExchange Traded Fund.
FTSEThe Financial Times Stock Exchange.

See accompanying Notes to Portfolios of Investments.
        3

Ultra Series Fund | March 31, 2022
Core Bond Fund Portfolio of Investments (unaudited)

Par ValueValue (Note 1,3)
ASSET BACKED SECURITIES - 3.7%
CCG Receivables Trust, Series 2020-1, Class A2 (A), 0.54%, 12/14/27$149,280$147,798
Chesapeake Funding II LLC, Series 2018-3A, Class B (A), 3.62%, 1/15/31100,000100,072
CNH Equipment Trust, Series 2019-A, Class A4, 3.22%, 1/15/26225,000227,171
Dell Equipment Finance Trust, Series 2019-2, Class A3 (A), 1.91%, 10/22/24105,615105,731
Donlen Fleet Lease Funding LLC, Series 2021-2, Class A2 (A), 0.56%, 12/11/34391,690384,256
Enterprise Fleet Financing LLC, Series 2019-3, Class A2 (A), 2.06%, 5/20/25154,663154,757
JPMorgan Chase Bank NA, Series 2020-2, Class B (A), 0.84%, 2/25/28119,257117,721
JPMorgan Chase Bank NA, Series 2021-1, Class B (A), 0.875%, 9/25/28157,544154,772
JPMorgan Chase Bank NA, Series 2021-2, Class B (A), 0.889%, 12/26/28184,348180,908
JPMorgan Chase Bank NA, Series 2021-3, Class C (A), 0.86%, 2/26/29340,855330,986
LAD Auto Receivables Trust, Series 2021-1A, Class A (A), 1.3%, 8/17/26383,086375,406
Santander Consumer Auto Receivables Trust, Series 2020-BA, Class A3 (A), 0.46%, 8/15/24124,963124,558
Santander Revolving Auto Loan Trust, Series 2019-A, Class C (A), 3%, 1/26/32300,000295,093
Synchrony Credit Card Master Note Trust, Series 2018-2, Class C, 3.87%, 5/15/26500,000502,757
Verizon Owner Trust, Series 2020-A, Class B, 1.98%, 7/22/24250,000249,373
Wheels SPV LLC, Series 2019-1A, Class A3 (A), 2.35%, 5/22/28200,000200,421
Total Asset Backed Securities
( Cost $3,729,594 )
3,651,780
COLLATERALIZED MORTGAGE OBLIGATIONS - 4.5%
Bunker Hill Loan Depositary Trust, Series 2019-2, Class A1 (A) (B)128,181127,277
CIM Trust, Series 2021-J2, Class A4 (A) (C) (D)323,412310,363
Fannie Mae REMICS, Series 2015-12, Class NI, IO746,40366,215
Fannie Mae REMICS, Series 2011-31, Class DB157,250158,976
Fannie Mae REMICS, Series 2011-36, Class QB235,272241,384
Fannie Mae REMICS, Series 2005-79, Class LT226,358246,449
Fannie Mae REMICS, Series 2020-44, Class TI, IO2,011,917344,170
Fannie Mae REMICS, Series 2016-21, Class BA86,35886,838
Freddie Mac REMICS, Series 4066, Class DI, IO782,85738,451
Freddie Mac STACR REMIC Trust, Series 2021-DNA3, Class M1, (SOFR30A + 0.750%) (A) (D)377,294373,764
Freddie Mac STACR REMIC Trust, Series 2021-DNA5, Class M1, (SOFR30A + 0.650%) (A) (D)22,24322,203
GCAT Trust, Series 2021-NQM1, Class A1 (A) (C) (D)254,297244,078
Government National Mortgage Association, Series 2015-53, Class IL, IO103,1441,961
JPMorgan Mortgage Trust, Series 2019-5, Class A3 (A) (C) (D)30,01330,044
JPMorgan Mortgage Trust, Series 2019-7, Class A3 (A) (C) (D)79,96779,558
JPMorgan Mortgage Trust, Series 2021-1, Class A3 (A) (C) (D)346,318321,530
JPMorgan Mortgage Trust, Series 2021-6, Class A4 (A) (C) (D)421,473404,631
JPMorgan Wealth Management, Series 2020-ATR1, Class A3 (A) (C) (D)161,626158,008
PSMC Trust, Series 2019-2, Class A1 (A) (C) (D)7,7197,708
PSMC Trust, Series 2020-2, Class A2 (A) (C) (D)82,31881,732
PSMC Trust, Series 2021-1, Class A11 (A) (C) (D)194,693186,188
RCKT Mortgage Trust, Series 2021-6, Class A5 (A) (C) (D)314,662300,515
Sequoia Mortgage Trust, Series 2013-7, Class A2 (C) (D)284,569276,029
Towd Point HE Trust, Series 2021-HE1, Class A1 (A) (C) (D)247,214242,786
Wells Fargo Mortgage-Backed Securities Trust, Series 2019-2, Class A1 (A) (C) (D)12,91212,910
Total Collateralized Mortgage Obligations
( Cost $4,776,138 )
4,363,768
See accompanying Notes to Portfolios of Investments.
        4

Ultra Series Fund | March 31, 2022
Core Bond Fund Portfolio of Investments (unaudited)

COMMERCIAL MORTGAGE-BACKED SECURITIES - 2.3%
Fannie Mae-Aces, Series 2017-M15, Class ATS2 (C) (D), 3.161%, 11/25/27236,448237,671
FHLMC Multifamily Structured Pass Through Certificates, Series KJ17, Class A2, 2.982%, 11/25/25211,085210,534
FHLMC Multifamily Structured Pass Through Certificates, Series K059, Class X1, IO (C) (D), 0.308%, 9/25/2611,600,877136,052
FHLMC Multifamily Structured Pass Through Certificates, Series K066, Class A2, 3.117%, 6/25/27650,000661,134
FREMF Mortgage Trust, Series 2015-K721, Class B (A) (C) (D), 3.591%, 11/25/47500,000502,127
FREMF Mortgage Trust, Series 2015-K44, Class B, (A) (D), 3.67%, 1/25/48450,000445,495
GSAMP Trust, Series 2006-S5, Class M5 (D), 7.488% 9/25/364,940,000
Total Commercial Mortgage-Backed Securities
( Cost $2,203,300 )
2,193,013
CORPORATE NOTES AND BONDS - 36.1%
Communication Services - 2.8%
AT&T, Inc., 2.25%, 2/1/32500,000443,502
CCO Holdings LLC / CCO Holdings Capital Corp. (A), 4.75%, 3/1/30200,000191,929
Charter Communications Operating LLC / Charter Communications Operating Capital, 4.908%, 7/23/25400,000415,263
Discovery Communications LLC, 5%, 9/20/37250,000256,821
Expedia Group, Inc., 3.25%, 2/15/30350,000333,581
Magallanes, Inc. (A), 5.141%, 3/15/52175,000179,085
Magallanes, Inc. (A), 5.391%, 3/15/6275,00077,339
T-Mobile USA, Inc., 2.625%, 4/15/26225,000215,590
Verizon Communications, Inc., 3.875%, 2/8/29300,000312,135
Verizon Communications, Inc., 4.4%, 11/1/34300,000319,234
2,744,479
Consumer Discretionary - 3.3%
7-Eleven, Inc. (A), 1.8%, 2/10/31300,000258,423
American Airlines, Inc. / AAdvantage Loyalty IP Ltd. (A), 5.5%, 4/20/26200,000201,520
Clarios Global LP / Clarios U.S. Finance Co. (A), 6.25%, 5/15/26
150,000154,313
Hilton Domestic Operating Co., Inc. (A), 5.375%, 5/1/25200,000204,610
Lowe's Cos., Inc., 3%, 10/15/50500,000425,126
Lowe's Cos., Inc., 4.25%, 4/1/52250,000258,740
McDonald's Corp., 2.125%, 3/1/30250,000227,481
McDonald's Corp., 4.875%, 12/9/45400,000445,151
Picasso Finance Sub, Inc. (A), 6.125%, 6/15/25135,000137,194
QVC, Inc., 4.75%, 2/15/27225,000215,437
Southwest Airlines Co., 5.25%, 5/4/25350,000367,948
Tractor Supply Co., 1.75%, 11/1/30200,000171,818
Walgreens Boots Alliance, Inc., 3.45%, 6/1/26176,000177,105
3,244,866
Consumer Staples - 1.7%
General Mills, Inc. (E), 2.875%, 4/15/30200,000192,152
Hormel Foods Corp., 1.8%, 6/11/30200,000179,262
Keurig Dr Pepper, Inc., 3.8%, 5/1/50300,000284,830
Mars, Inc. (A), 3.875%, 4/1/39350,000354,163
Mars, Inc. (A), 2.375%, 7/16/40350,000292,959
Performance Food Group, Inc. (A), 5.5%, 10/15/27150,000149,437
Sysco Corp., 5.95%, 4/1/30199,000230,654
1,683,457
See accompanying Notes to Portfolios of Investments.
        5

Ultra Series Fund | March 31, 2022
Core Bond Fund Portfolio of Investments (unaudited)

Energy - 4.4%
Eastern Gas Transmission & Storage, Inc. (A), 3%, 11/15/29150,000144,444
Energy Transfer LP, 5.25%, 4/15/29300,000320,165
EnLink Midstream Partners LP (E), 5.45%, 6/1/47550,000464,750
Enterprise Products Operating LLC, 3.75%, 2/15/25500,000509,462
Kinder Morgan, Inc., 5.55%, 6/1/45550,000615,465
Marathon Petroleum Corp., 4.7%, 5/1/25275,000286,084
MPLX LP, 4.8%, 2/15/29250,000266,556
MPLX LP, 2.65%, 8/15/30200,000183,230
ONEOK, Inc., 5.85%, 1/15/26100,000107,595
Phillips 66, 2.15%, 12/15/30250,000222,086
Pioneer Natural Resources Co., 2.15%, 1/15/31200,000180,262
Sabine Pass Liquefaction LLC, 4.5%, 5/15/30250,000261,473
Sunoco LP / Sunoco Finance Corp., 6%, 4/15/27150,000152,813
Valero Energy Corp., 4%, 6/1/52100,00093,929
Valero Energy Partners LP, 4.5%, 3/15/28500,000513,016
4,321,330
Financials - 12.8%
Affiliated Managers Group, Inc., 4.25%, 2/15/24250,000256,256
Aflac, Inc., 4.75%, 1/15/49400,000456,575
Air Lease Corp., 1.875%, 8/15/26250,000230,072
Ally Financial, Inc., (5 year CMT + 3.868%) (D), 4.7%, 5/15/26250,000234,064
Bank of America Corp., (5 year CMT + 2.000%) (D), 3.846%, 3/8/37150,000143,668
Bank of New York Mellon Corp., Series I, (5 year CMT + 2.630%) (D), 3.75%, 12/20/26200,000183,500
Belrose Funding Trust (A), 2.33%, 8/15/30200,000175,195
Berkshire Hathaway Finance Corp., 3.85%, 3/15/52225,000229,946
BlackRock, Inc., 2.1%, 2/25/32350,000317,249
Capital One Financial Corp. (5 year CMT + 3.157%) (D), 3.95%, 9/1/26250,000231,875
Capital One Financial Corp., (SOFR + 1.790%) (D), 3.273%, 3/1/30250,000241,574
Cboe Global Markets, Inc., 3.65%, 1/12/27365,000371,964
Charles Schwab Corp. (10 year CMT + 3.079%) (D), 4%, 12/1/30550,000493,966
Citigroup, Inc. (3M USD LIBOR + 1.192%) (D), 4.075%, 4/23/29300,000306,288
Discover Bank, 3.45%, 7/27/2675,00074,662
Empower Finance LP (A), 3.075%, 9/17/51125,000105,776
Fifth Third Bancorp, 2.55%, 5/5/27175,000169,340
GLP Capital LP / GLP Financing, Inc., 3.25%, 1/15/32200,000181,460
Goldman Sachs BDC, Inc., 2.875%, 1/15/26200,000192,660
Goldman Sachs Group, Inc. (SOFR + 0.913%) (D), 1.948%, 10/21/27400,000372,262
Huntington Bancshares, Inc. (5 year CMT + 1.170%) (A) (D), 2.487%, 8/15/36500,000435,101
Huntington National Bank, 3.55%, 10/6/23250,000252,963
Iron Mountain, Inc. (A), 4.5%, 2/15/31125,000115,439
Jefferies Group LLC / Jefferies Group Capital Finance, Inc., 2.625%, 10/15/31250,000225,370
JPMorgan Chase & Co., Series II, (SOFR + 2.745%) (D), 4%, 4/1/25400,000378,000
JPMorgan Chase & Co. (SOFR + 0.695%) (D), 1.04%, 2/4/27400,000366,971
KKR Group Finance Co. VIII LLC (A), 3.5%, 8/25/50250,000217,952
Liberty Mutual Group, Inc. (A), 4.25%, 6/15/23166,000168,640
Liberty Mutual Group, Inc. (A), 4.569%, 2/1/29400,000424,031
Liberty Mutual Group, Inc. (A), 3.95%, 5/15/60150,000136,395
M&T Bank Corp., 3.55%, 7/26/23250,000252,916
MetLife, Inc., (5 year CMT + 3.576%) (D), 3.85%, 9/15/25350,000345,170
Morgan Stanley (SOFR + 1.990%) (D), 2.188%, 4/28/26175,000169,238
Morgan Stanley (SOFR + 0.879%) (D), 1.593%, 5/4/27250,000232,567
See accompanying Notes to Portfolios of Investments.
        6

Ultra Series Fund | March 31, 2022
Core Bond Fund Portfolio of Investments (unaudited)

Morgan Stanley, (SOFR + 1.020%) (D), 1.928%, 4/28/32250,000216,117
NASDAQ, Inc., 1.65%, 1/15/31200,000168,639
Old Republic International Corp., 3.85%, 6/11/51250,000231,866
Omega Healthcare Investors, Inc., 3.375%, 2/1/31225,000206,148
PNC Bank NA, 2.7%, 10/22/29125,000120,109
Prudential Financial, Inc. (5 year CMT + 3.035%) (D), 3.7%, 10/1/50250,000229,100
Public Storage, 1.95%, 11/9/28125,000115,622
Regions Financial Corp., 1.8%, 8/12/28495,000442,778
SBA Communications Corp., 3.875%, 2/15/27250,000243,495
State Street Corp. (SOFR + 1.490%) (D), 3.031%, 11/1/34125,000119,570
STORE Capital Corp., 4.5%, 3/15/28200,000205,370
Teachers Insurance & Annuity Association of America (A), 3.3%, 5/15/50300,000265,449
Truist Bank, 2.25%, 3/11/30325,000297,941
Truist Financial Corp., (SOFR + 0.609%) (D), 1.267%, 3/2/27300,000278,147
Wells Fargo & Co., (SOFR + 2.100%) (D), 2.393%, 6/2/28250,000236,771
Western Union Co., 2.85%, 1/10/25125,000123,688
Weyerhaeuser Co., 3.375%, 3/9/33250,000243,522
12,433,437
Health Care - 2.1%
Baxter International, Inc. (A), 2.272%, 12/1/28300,000278,473
Centene Corp., 2.45%, 7/15/28300,000274,110
Cigna Corp., 4.375%, 10/15/2850,00052,690
Cigna Corp., 4.9%, 12/15/48200,000223,995
CVS Health Corp., 5.125%, 7/20/45250,000282,488
Health Care Service Corp. A Mutual Legal Reserve Co. (A), 2.2%, 6/1/30250,000227,182
Viatris, Inc., 2.7%, 6/22/30400,000351,872
Zoetis, Inc., 3%, 9/12/27300,000299,285
1,990,095
Industrials - 4.0%
Ball Corp., 4.875%, 3/15/26250,000260,461
Block, Inc. (A), 2.75%, 6/1/26300,000283,566
Boeing Co., 3.625%, 2/1/31200,000194,696
Boeing Co., 5.805%, 5/1/50350,000403,967
Carlisle Cos., Inc., 3.5%, 12/1/24200,000201,840
Carrier Global Corp., 3.577%, 4/5/50150,000137,182
Otis Worldwide Corp., 2.565%, 2/15/30300,000280,414
Quanta Services, Inc., 2.9%, 10/1/30250,000231,335
Spirit AeroSystems, Inc. (A), 5.5%, 1/15/25175,000175,438
TD SYNNEX Corp. (A), 1.75%, 8/9/26500,000458,554
TD SYNNEX Corp. (A), 2.65%, 8/9/31200,000171,774
Textron, Inc., 2.45%, 3/15/31250,000226,372
TransDigm, Inc. (A), 6.25%, 3/15/26200,000205,625
Vulcan Materials Co., 3.5%, 6/1/30250,000247,984
WRKCo, Inc., 3.9%, 6/1/28450,000451,805
3,931,013
Information Technology - 2.7%
Broadcom, Inc. (A), 3.187%, 11/15/3612,00010,525
Citrix Systems, Inc., 4.5%, 12/1/27105,000107,467
Dell International LLC / EMC Corp., 8.35%, 7/15/4662,00090,570
Dell International LLC / EMC Corp. (A), 3.45%, 12/15/51275,000223,800
Fiserv, Inc., 3.5%, 7/1/29200,000196,893
See accompanying Notes to Portfolios of Investments.
        7

Ultra Series Fund | March 31, 2022
Core Bond Fund Portfolio of Investments (unaudited)

Gartner, Inc. (A), 4.5%, 7/1/28150,000149,969
HP, Inc., 2.65%, 6/17/31400,000357,933
Intuit, Inc., 1.65%, 7/15/30250,000220,603
Lam Research Corp., 1.9%, 6/15/30350,000317,225
Marvell Technology, Inc., 4.2%, 6/22/23400,000406,599
Oracle Corp., 3.95%, 3/25/51400,000349,502
VMware, Inc., 2.2%, 8/15/31250,000220,141
2,651,227
Materials - 0.9%
Arconic Corp. (A), 6%, 5/15/25150,000153,000
DuPont de Nemours, Inc., 4.725%, 11/15/28300,000322,083
LYB International Finance III LLC, 3.625%, 4/1/51400,000361,713
836,796
Utilities - 1.4%
AES Corp., 1.375%, 1/15/26450,000414,299
Berkshire Hathaway Energy Co., 1.65%, 5/15/31200,000174,189
Duke Energy Corp., 3.75%, 9/1/46400,000376,778
Interstate Power & Light Co., 3.5%, 9/30/49225,000204,343
Wisconsin Electric Power Co., 1.7%, 6/15/28250,000226,313
1,395,922
Total Corporate Notes and Bonds
( Cost $36,631,438 )
35,232,622
FOREIGN CORPORATE BONDS - 2.7%
Communication Services - 0.5%
Alibaba Group Holding Ltd., 2.125%, 2/9/31250,000217,292
Vodafone Group PLC, 5%, 5/30/38250,000272,604
489,896
Consumer Discretionary - 0.2%
Carnival Corp. (A), 5.75%, 3/1/27150,000142,901
Financials - 1.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 1.75%, 1/30/26300,000274,610
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 4.625%, 10/15/27200,000203,798
Avolon Holdings Funding Ltd. (A), 2.125%, 2/21/26300,000274,240
Royal Bank of Canada, 1.15%, 6/10/25375,000354,330
UBS Group AG (5 year CMT + 3.313%) (A) (D), 4.375%, 2/10/31200,000180,500
1,287,478
Health Care - 0.7%
Royalty Pharma PLC, 2.2%, 9/2/30200,000174,883
Royalty Pharma PLC, 3.55%, 9/2/50250,000207,341
STERIS Irish FinCo UnLtd Co., 3.75%, 3/15/51350,000325,416
707,640
Total Foreign Corporate Bonds
( Cost $2,797,920 )
2,627,915
LONG TERM MUNICIPAL BONDS - 2.1%
General - 2.1%
Metropolitan Transportation Authority Revenue, 6.548%, 11/15/311,000,0001,170,092
Washington County Hillsboro School District #1J, General Obligation, 4.355%, 6/30/34800,000835,591
2,005,683
Total Long Term Municipal Bonds
( Cost $2,037,228 )
2,005,683
See accompanying Notes to Portfolios of Investments.
        8

Ultra Series Fund | March 31, 2022
Core Bond Fund Portfolio of Investments (unaudited)

MORTGAGE BACKED SECURITIES - 17.0%
Fannie Mae - 10.6%
3%, 9/1/30 Pool # 890696467,656472,641
3%, 12/1/30 Pool # AL8924192,346193,952
7%, 11/1/31 Pool # 60751514,03215,001
3.5%, 12/1/31 Pool # MA091950,05250,723
6.5%, 3/1/32 Pool # 63137717,59818,897
7%, 5/1/32 Pool # 6445915,1675,307
6.5%, 6/1/32 Pool # 545691116,537127,076
3.5%, 8/1/32 Pool # MA309856,14657,692
5.5%, 11/1/33 Pool # 555880154,400167,579
4%, 2/1/35 Pool # MA2177531,816554,068
5%, 8/1/35 Pool # 829670179,192192,144
5%, 9/1/35 Pool # 835699221,084235,097
5%, 9/1/35 Pool # 820347273,537296,676
3.5%, 12/1/35 Pool # MA2473294,084297,994
5%, 12/1/35 Pool # 85056166,34971,621
4%, 6/1/36 Pool # AL8618140,757146,231
5.5%, 10/1/36 Pool # 90172374,18178,985
6.5%, 10/1/36 Pool # 894118228,026245,936
6%, 11/1/36 Pool # 902510230,577257,412
6%, 10/1/37 Pool # 947563238,563266,414
6.5%, 8/1/38 Pool # 987711286,507321,844
3%, 11/1/39 Pool # MA383161,35160,670
4%, 1/1/41 Pool # AB2080521,301545,845
2.5%, 5/1/41 Pool # MA4334454,685440,112
4.5%, 7/1/41 Pool # AB3274218,812233,065
5.5%, 7/1/41 Pool # AL6588470,396515,058
4%, 9/1/41 Pool # AJ1406257,707269,140
3.5%, 6/1/42 Pool # AO4136525,676535,702
4%, 6/1/42 Pool # MA1087146,688153,619
3.5%, 8/1/42 Pool # AP2133243,415248,057
3.5%, 9/1/42 Pool # AB6228471,972481,749
4%, 10/1/42 Pool # AP7363356,805373,090
3.5%, 3/1/43 Pool # AT0310329,882336,733
4%, 1/1/45 Pool # AS425772,54575,764
4.5%, 2/1/45 Pool # MA2193270,427286,685
3.5%, 11/1/45 Pool # BA4907156,936159,601
3.5%, 12/1/45 Pool # AS6309121,974124,344
4.5%, 10/1/46 Pool # MA278332,46334,113
4%, 12/1/46 Pool # BD2379111,408115,181
3%, 1/1/47 Pool # BE0108257,757256,426
2.5%, 12/1/47 Pool # FM3165526,219506,045
4%, 7/1/48 Pool # MA3415138,243141,514
4%, 11/1/50 Pool # FM5530359,917368,080
10,333,883
Freddie Mac - 6.4%
4.5%, 2/1/25 Pool # J1172234,63035,774
4.5%, 5/1/25 Pool # J1224769,18471,664
8%, 6/1/30 Pool # C010056,5647,291
7%, 3/1/31 Pool # C4812933,33333,643
See accompanying Notes to Portfolios of Investments.
        9

Ultra Series Fund | March 31, 2022
Core Bond Fund Portfolio of Investments (unaudited)

2.5%, 2/1/32 Pool # ZS8641124,348123,108
5.5%, 11/1/34 Pool # A28282226,118242,467
2.5%, 6/1/35 Pool # RC1421209,006207,030
5.5%, 1/1/37 Pool # G0459398,161107,554
2%, 3/1/41 Pool # RB5105439,206412,364
4%, 10/1/41 Pool # Q04092255,775267,369
3%, 9/1/42 Pool # C04233677,033677,610
3%, 4/1/43 Pool # V80026848,261848,461
3%, 4/1/43 Pool # V80025856,718853,194
3.5%, 8/1/44 Pool # Q27927242,016247,208
3%, 7/1/45 Pool # G08653283,958283,065
3.5%, 8/1/45 Pool # Q35614389,089396,443
3%, 10/1/46 Pool # G60722448,174446,161
4%, 3/1/47 Pool # Q46801130,922135,082
3.5%, 12/1/47 Pool # Q52955165,016167,439
2.5%, 4/1/48 Pool # QA2240420,980404,868
3%, 7/1/49 Pool # QA1033234,627230,678
6,198,473
Ginnie Mae - 0.0%
6.5%, 2/20/29 Pool # 271421,98623,680
6.5%, 4/20/31 Pool # 306815,84817,270
40,950
Total Mortgage Backed Securities
( Cost $16,682,634 )
16,573,306
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 29.2%
U.S. Treasury Bonds - 9.9%
6.625%, 2/15/272,000,0002,380,000
4.500%, 5/15/382,000,0002,565,547
3.750%, 8/15/41750,000882,832
3.000%, 5/15/45750,000798,633
2.500%, 5/15/46500,000490,859
3.375%, 11/15/48500,000585,898
1.250%, 5/15/501,500,0001,121,016
1.875%, 2/15/511,000,000874,219
9,699,004
U.S. Treasury Notes - 19.3%
2.250%, 11/15/253,000,0002,972,930
0.375%, 1/31/261,750,0001,614,580
1.500%, 8/15/262,750,0002,638,926
2.375%, 5/15/272,000,0001,993,750
2.875%, 5/15/283,000,0003,073,359
2.625%, 2/15/292,250,0002,279,619
0.625%, 8/15/302,250,0001,956,006
1.375%, 11/15/312,500,0002,294,922
18,824,092
Total U.S. Government and Agency Obligations
( Cost $28,601,616 )
28,523,096
See accompanying Notes to Portfolios of Investments.
        10

Ultra Series Fund | March 31, 2022
Core Bond Fund Portfolio of Investments (unaudited)

Shares
SHORT-TERM INVESTMENTS - 3.5%
State Street Institutional U.S. Government Money Market Fund, 0.25%, Premier Class (F)709,857709,857
State Street Navigator Securities Lending Government Money Market Portfolio, 0.25% (F) (G)2,725,1902,725,190
Total Short-Term Investments
( Cost $3,435,047 )
3,435,047
TOTAL INVESTMENTS - 101.1% ( Cost $100,894,915 )
98,606,230
NET OTHER ASSETS AND LIABILITIES - (1.1%)
(1,055,044)
TOTAL NET ASSETS - 100.0%
$97,551,186
(A)Security sold within terms of a private placement memorandum exempt from registration under section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "qualified institutional buyers."
(B)Stepped rate security. Rate shown is as of March 31, 2022.
(C)Coupon rate may change based on changes of the underlying collateral or prepayments of principal. The coupon rate shown represents the rate at period end.
(D)Floating rate or variable rate note. Rate shown is as of March 31, 2022.
(E)All or a portion of these securities, with an aggregate fair value of $2,674,747, are on loan as part of a securities lending program. See footnote (G) and Note 4 for details on the securities lending program.
(F)7-day yield.
(G)Represents investments of cash collateral received in connection with securities lending.
CMTConstant Maturity Treasury.
DACDesignated Activity Company.
FHLMCFederal Home Loan Mortgage Corp or Freddie Mac
FREMFFreddie Mac Multifamily.
IOInterest Only.
PLCPublic Limited Company.
REMICReal Estate Mortgage Investment Conduit.
LIBORLondon Interbank Offered Rate.
LLCLimited Liability Company.
PLCPublic Limited Company.
REMICReal Estate Mortgage Investment Conduit.
SOFRSecured Overnight Financing Rate
STACRStructured Agency Credit Risk.
USDUnited States Dollar

See accompanying Notes to Portfolios of Investments.
        11

Ultra Series Fund | March 31, 2022
High Income Fund Portfolio of Investments (unaudited)

Par ValueValue (Note 1,3)
CORPORATE NOTES AND BONDS - 84.6%
Communication Services - 14.0%
Advantage Sales & Marketing, Inc. (A), 6.5%, 11/15/28$150,000$141,965
Cars.com, Inc. (A), 6.375%, 11/1/28150,000148,930
CCO Holdings LLC / CCO Holdings Capital Corp. (A), 4.75%, 3/1/30145,000139,149
Diamond Sports Group LLC / Diamond Sports Finance Co., 5.375%, 8/15/26125,00048,438
Frontier Communications Holdings LLC (A), 5%, 5/1/28225,000216,000
Hughes Satellite Systems Corp., 5.25%, 8/1/26225,000228,937
Lamar Media Corp., 4.875%, 1/15/29180,000178,650
Level 3 Financing, Inc. (A), 4.25%, 7/1/28180,000165,241
Millennium Escrow Corp. (A), 6.625%, 8/1/26225,000213,624
Netflix, Inc., 6.375%, 5/15/29100,000113,078
Outfront Media Capital LLC / Outfront Media Capital Corp. (A), 4.25%, 1/15/29125,000116,281
Sprint Corp., 7.125%, 6/15/24275,000294,951
Viasat, Inc. (A) (B), 6.5%, 7/15/28150,000144,000
2,149,244
Consumer Discretionary - 12.9%
American Airlines, Inc. / AAdvantage Loyalty IP Ltd. (A), 5.5%, 4/20/26300,000302,280
Delta Air Lines, Inc., 7.375%, 1/15/26125,000135,748
Genting New York LLC / GENNY Capital, Inc. (A) (B), 3.3%, 2/15/26200,000189,388
Murphy Oil USA, Inc., 5.625%, 5/1/27400,000406,500
Picasso Finance Sub, Inc. (A), 6.125%, 6/15/25175,000177,844
QVC, Inc., 4.375%, 9/1/28160,000145,980
Scientific Games International, Inc. (A), 5%, 10/15/25275,000281,875
United Airlines, Inc. (A), 4.375%, 4/15/26125,000123,047
Vail Resorts, Inc. (A), 6.25%, 5/15/25200,000206,576
1,969,238
Consumer Staples - 6.2%
B&G Foods, Inc. (B), 5.25%, 9/15/27220,000209,550
Edgewell Personal Care Co. (A), 5.5%, 6/1/28125,000124,786
Lamb Weston Holdings, Inc. (A), 4.875%, 5/15/28125,000125,000
Lamb Weston Holdings, Inc. (A), 4.125%, 1/31/30100,00093,383
Performance Food Group, Inc. (A), 5.5%, 10/15/27215,000214,194
U.S. Foods, Inc. (A), 6.25%, 4/15/25175,000179,812
946,725
Energy - 3.4%
Berry Petroleum Co. LLC (A), 7%, 2/15/26125,000123,438
Buckeye Partners LP (A), 4.125%, 3/1/25150,000147,750
Sunoco LP / Sunoco Finance Corp., 6%, 4/15/27150,000152,812
Sunoco LP / Sunoco Finance Corp. (A), 4.5%, 4/30/30
110,000101,512
525,512
Financials - 23.4%
Alliance Data Systems Corp. (A), 4.75%, 12/15/24500,000491,570
Credit Acceptance Corp. (A), 5.125%, 12/31/24200,000200,718
Diversified Healthcare Trust, 9.75%, 6/15/25150,000157,875
Enact Holdings, Inc. (A), 6.5%, 8/15/25250,000257,912
Home Point Capital, Inc. (A) (B), 5%, 2/1/26130,000106,510
See accompanying Notes to Portfolios of Investments.
        12

Ultra Series Fund | March 31, 2022
High Income Fund Portfolio of Investments (unaudited)

Iron Mountain, Inc. (A) (B), 4.875%, 9/15/27250,000247,263
Iron Mountain, Inc. (A), 5.25%, 7/15/30135,000132,300
Jefferies Finance LLC / JFIN Co-Issuer Corp. (A), 5%, 8/15/28200,000191,496
LPL Holdings, Inc. (A), 4%, 3/15/29100,00094,898
MGIC Investment Corp., 5.25%, 8/15/28200,000197,582
MPT Operating Partnership LP / MPT Finance Corp., 5%, 10/15/27400,000406,750
MPT Operating Partnership LP / MPT Finance Corp., 3.5%, 3/15/31150,000139,307
NFP Corp. (A), 6.875%, 8/15/28125,000119,063
OneMain Finance Corp., 3.875%, 9/15/28195,000176,473
RHP Hotel Properties LP / RHP Finance Corp. (A), 4.5%, 2/15/29115,000108,100
RLJ Lodging Trust LP (A), 3.75%, 7/1/26150,000142,500
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (A), 3.875%, 3/1/31200,000180,000
SBA Communications Corp., 3.875%, 2/15/27235,000228,885
3,579,202
Health Care - 3.6%
AdaptHealth LLC (A), 4.625%, 8/1/2950,00045,250
HCA, Inc., 5.875%, 2/15/26250,000264,375
Legacy LifePoint Health LLC (A), 6.75%, 4/15/25150,000154,500
Mozart Debt Merger Sub, Inc. (A), 3.875%, 4/1/2990,00083,138
547,263
Industrials - 16.6%
ADT Security Corp., 4.125%, 6/15/23225,000227,450
Brink's Co. (A), 5.5%, 7/15/25125,000125,979
Energizer Holdings, Inc. (A), 4.75%, 6/15/28190,000172,738
EnerSys (A), 4.375%, 12/15/27125,000119,688
Madison IAQ LLC (A) (B), 4.125%, 6/30/28200,000184,500
Roller Bearing Co. of America, Inc. (A), 4.375%, 10/15/2990,00083,925
RR Donnelley & Sons Co. (A), 6.125%, 11/1/26300,000307,500
Sealed Air Corp. (A), 5.125%, 12/1/24300,000311,419
Spirit AeroSystems, Inc. (A), 5.5%, 1/15/25250,000250,625
Spirit AeroSystems, Inc. (A), 7.5%, 4/15/25250,000259,014
TransDigm, Inc. (A), 6.25%, 3/15/26275,000282,734
Waste Pro USA, Inc. (A), 5.5%, 2/15/26225,000210,375
2,535,947
Information Technology - 2.0%
Pitney Bowes, Inc. (A) (B), 6.875%, 3/15/27210,000197,400
Playtika Holding Corp. (A), 4.25%, 3/15/29110,000101,475
298,875
Materials - 1.1%
Arconic Corp. (A), 6.125%, 2/15/28175,000175,589
Utilities - 1.4%
AmeriGas Partners LP / AmeriGas Finance Corp., 5.875%, 8/20/26100,00099,914
Calpine Corp. (A), 3.75%, 3/1/31135,000120,850
220,764
Total Corporate Notes and Bonds
( Cost $13,377,282 )
12,948,359
FOREIGN CORPORATE BONDS - 8.6%
Communication Service - 0.6%
Telesat Canada / Telesat LLC (A), 6.5%, 10/15/27175,00087,195
See accompanying Notes to Portfolios of Investments.
        13

Ultra Series Fund | March 31, 2022
High Income Fund Portfolio of Investments (unaudited)

Consumer Discretionary - 5.4%
Carnival Corp. (A), 5.75%, 3/1/27200,000190,534
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd. (A), 5.75%, 1/20/26175,000175,100
International Game Technology PLC (A), 4.125%, 4/15/26250,000246,721
Royal Caribbean Cruises Ltd. (A), 9.125%, 6/15/23200,000208,250
820,605
Health Care - 2.6%
Mallinckrodt International Finance SA / Mallinckrodt CB LLC (A) (C), 10%, 4/15/25425,000401,625
Total Foreign Corporate Bonds
( Cost $1,463,518 )
1,309,425
Shares
EXCHANGE TRADED FUNDS - 3.2%
Bond Funds - 3.2%
iShares iBoxx High Yield Corporate Bond ETF (B)5,900485,511
Total Exchange Traded Funds
( Cost $508,729 )
485,511
SHORT-TERM INVESTMENTS - 13.5%
State Street Institutional U.S. Government Money Market Fund, 0.25%, Premier Class (D)371,526371,526
State Street Navigator Securities Lending Government Money Market Portfolio, 0.25% (D) (E)1,697,1991,697,199
Total Short-Term Investments
( Cost $2,068,725 )
2,068,725
TOTAL INVESTMENTS - 109.9% ( Cost $17,418,254 )
16,812,020
NET OTHER ASSETS AND LIABILITIES - (9.9%)
(1,512,594)
TOTAL NET ASSETS - 100.0%
$15,299,426
(A)Security sold within terms of a private placement memorandum exempt from registration under section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "qualified institutional buyers."
(B)All or a portion of these securities, with an aggregate fair value of $1,662,746, are on loan as part of a securities lending program. See footnote (E) and Note 4 for details on the securities lending program.
(C)In default. Issuer is bankrupt.
(D)7-day yield.
(E)Represents investments of cash collateral received in connection with securities lending.
ETFExchange Traded Fund.
LLCLimited Limited Company.
PLCPublic Limited Company.

See accompanying Notes to Portfolios of Investments.
        14

Ultra Series Fund | March 31, 2022
Diversified Income Fund Portfolio of Investments (unaudited)

SharesValue (Note 1,3)
COMMON STOCKS - 68.7%
Communication Services - 3.9%
Comcast Corp., Class A98,300$4,602,406
Verizon Communications, Inc.77,9003,968,226
8,570,632
Consumer Discretionary - 5.3%
Home Depot, Inc.15,9734,781,198
McDonald's Corp.20,1504,982,692
Starbucks Corp.23,3002,119,601
11,883,491
Consumer Staples - 7.2%
Archer-Daniels-Midland Co.45,9504,147,447
Coca-Cola Co.39,7002,461,400
Colgate-Palmolive Co.26,0001,971,580
PepsiCo, Inc.24,9504,176,131
Procter & Gamble Co.20,7503,170,600
15,927,158
Energy - 4.1%
Baker Hughes Co.138,1005,028,221
EOG Resources, Inc.33,6004,006,128
9,034,349
Financials - 13.5%
Aflac, Inc.68,3004,397,837
BlackRock, Inc.4,6753,572,495
CME Group, Inc.21,3005,066,418
JPMorgan Chase & Co.26,5003,612,480
Northern Trust Corp.39,6004,611,420
Travelers Cos., Inc.35,8006,541,734
U.S. Bancorp39,1002,078,165
29,880,549
Health Care - 13.2%
AmerisourceBergen Corp.25,2003,898,692
Bristol-Myers Squibb Co.84,3006,156,429
CVS Health Corp.59,4506,016,934
Johnson & Johnson30,2005,352,346
Medtronic PLC36,0003,994,200
Pfizer, Inc.74,1003,836,157
29,254,758
Industrials - 7.6%
Emerson Electric Co.26,3002,578,715
Fastenal Co.55,9003,320,460
Honeywell International, Inc.19,5003,794,310
PACCAR, Inc.46,2004,068,834
Union Pacific Corp.11,2503,073,613
16,835,932
See accompanying Notes to Portfolios of Investments.
        15

Ultra Series Fund | March 31, 2022
Diversified Income Fund Portfolio of Investments (unaudited)

Information Technology - 8.5%
Analog Devices, Inc.10,0001,651,800
Automatic Data Processing, Inc.8,4501,922,713
Cisco Systems, Inc.92,4005,152,224
Oracle Corp.26,9002,225,437
Paychex, Inc.26,3003,589,161
Texas Instruments, Inc.23,0504,229,214
18,770,549
Materials - 1.7%
Nucor Corp.25,4003,775,710
Real Estate - 1.2%
American Tower Corp., REIT11,0002,763,420
Utilities - 2.5%
Dominion Energy, Inc.66,6005,659,002
Total Common Stocks
( Cost $95,330,795 )
152,355,550
ASSET BACKED SECURITIES - 0.9%
CCG Receivables Trust, Series 2020-1, Class A2 (A), 0.54%, 12/14/2749,76049,266
Chesapeake Funding II LLC, Series 2018-3A, Class B (A), 3.62%, 1/15/31100,000100,072
CNH Equipment Trust, Series 2019-A, Class A4, 3.22%, 1/15/26130,000131,255
Dell Equipment Finance Trust, Series 2019-2, Class A3 (A), 1.91%, 10/22/2490,52790,627
Donlen Fleet Lease Funding LLC, Series 2021-2, Class A2 (A), 0.56%, 12/11/34174,084170,780
Enterprise Fleet Financing LLC, Series 2019-3, Class A2 (A), 2.06%, 5/20/25154,663154,757
JPMorgan Chase Bank NA, Series 2020-2, Class B (A), 0.84%, 2/25/28119,257117,721
JPMorgan Chase Bank NA, Series 2021-1, Class B (A), 0.875%, 9/25/28157,544154,772
JPMorgan Chase Bank NA, Series 2021-2, Class B (A), 0.889%, 12/26/28184,348180,909
JPMorgan Chase Bank NA, Series 2021-3, Class C (A), 0.86%, 2/26/29215,875209,624
LAD Auto Receivables Trust, Series 2021-1A, Class A (A), 1.3%, 8/17/26191,543187,703
Santander Consumer Auto Receivables Trust, Series 2020-BA, Class A3 (A), 0.46%, 8/15/24124,963124,558
Santander Revolving Auto Loan Trust, Series 2019-A, Class C (A), 3%, 1/26/32200,000196,729
Synchrony Credit Card Master Note Trust, Series 2018-2, Class C, 3.87%, 5/15/26100,000100,551
Verizon Owner Trust, Series 2020-A, Class B, 1.98%, 7/22/24150,000149,624
Wheels SPV LLC, Series 2019-1A, Class A2 (A), 2.3%, 5/22/284,1194,121
Total Asset Backed Securities
( Cost $2,158,236 )
2,123,069
COLLATERALIZED MORTGAGE OBLIGATIONS - 1.6%
CIM Trust, Series 2021-J2, Class A4 (A) (B) (C), 2.5%, 4/25/51152,194146,053
Fannie Mae REMICS, Series 2011-31, Class DB, 3.5%, 4/25/31146,767148,378
Fannie Mae REMICS, Series 2011-36, Class QB, 4%, 5/25/31226,331232,212
Fannie Mae REMICS, Series 2005-79, Class LT, 5.5%, 9/25/35206,552224,885
Fannie Mae REMICS, Series 2020-44, Class TI, IO, 5.5%, 12/25/351,023,607175,104
Fannie Mae REMICS, Series 2016-21, Class BA, 3%, 3/25/4251,81552,103
Flagstar Mortgage Trust, Series 2021-9INV, Class A1 (A) (B) (C), 2.5%, 9/25/41185,430178,931
Freddie Mac REMICS, Series 4037, Class B, 3%, 4/15/27301,228301,672
Freddie Mac STACR REMIC Trust, Series 2021-DNA3, Class M1, (SOFR30A + 0.750%) (A) (C), 0.849%, 10/25/33207,511205,570
See accompanying Notes to Portfolios of Investments.
        16

Ultra Series Fund | March 31, 2022
Diversified Income Fund Portfolio of Investments (unaudited)

Freddie Mac STACR REMIC Trust, Series 2021-DNA5, Class M1, (SOFR30A + 0.650%) (A) (C), 0.749%, 1/25/3413,34613,322
GS Mortgage-Backed Securities Corp. Trust, Series 2020-PJ6, Class A2 (A) (B) (C), 2.5%, 5/25/51182,110168,962
JPMorgan Mortgage Trust, Series 2019-7, Class A3 (A) (B) (C), 3.5%, 2/25/5050,88850,628
JPMorgan Mortgage Trust, Series 2021-1, Class A3 (A) (B) (C), 2.5%, 6/25/51311,686289,377
JPMorgan Mortgage Trust, Series 2021-3, Class A3 (A) (B) (C), 2.5%, 7/25/51114,477106,056
JPMorgan Mortgage Trust, Series 2021-6, Class A4 (A) (B) (C), 2.5%, 10/25/51210,737202,315
JPMorgan Wealth Management, Series 2020-ATR1, Class A3 (A) (B) (C), 3%, 2/25/5048,48847,402
PSMC Trust, Series 2019-2, Class A1 (A) (B) (C), 3.5%, 10/25/494,6314,625
PSMC Trust, Series 2021-1, Class A11 (A) (B) (C), 2.5%, 3/25/51116,816111,713
RCKT Mortgage Trust, Series 2021-6, Class A5 (A) (B) (C), 2.5%, 12/25/51314,662300,515
RCKT Mortgage Trust, Series 2022-1, Class A5 (A) (B) (C), 2.5%, 1/25/52296,172280,930
Sequoia Mortgage Trust, Series 2013-7, Class A2 (B) (C), 3%, 6/25/43159,636154,845
Towd Point HE Trust, Series 2021-HE1, Class A1 (A) (B) (C), 0.918%, 2/25/63123,607121,393
Total Collateralized Mortgage Obligations
( Cost $3,643,408 )
3,516,991
COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.5%
FHLMC Multifamily Structured Pass Through Certificates, Series KJ17, Class A2, 2.982%, 11/25/25140,723140,356
FHLMC Multifamily Structured Pass Through Certificates, Series K066, Class A2, 3.117%, 6/25/27300,000305,138
FREMF Mortgage Trust, Series 2015-K721, Class B (A) (B) (C), 3.591%, 11/25/47400,000401,702
FREMF Mortgage Trust, Series 2015-K44, Class B, (A) (B) (C), 3.67%, 1/25/48300,000296,997
GSAMP Trust, Series 2006-S5, Class M5 (C), 7.488% 9/25/362,190,000
Total Commercial Mortgage-Backed Securities
( Cost $1,156,801 )
1,144,193
CORPORATE NOTES AND BONDS - 10.2%
Communication Services - 1.4%
Amazon.com, Inc., 1.65%, 5/12/28400,000373,154
AT&T, Inc., 2.25%, 2/1/32200,000177,401
AT&T, Inc., 4.75%, 5/15/46500,000542,786
Charter Communications Operating LLC / Charter Communications Operating Capital, 4.908%, 7/23/25300,000311,447
Comcast Corp., 4.15%, 10/15/28275,000289,245
Discovery Communications LLC, 5%, 9/20/37300,000308,185
eBay, Inc., 1.9%, 3/11/2550,00048,377
eBay, Inc., 2.6%, 5/10/31250,000229,710
Expedia Group, Inc., 3.25%, 2/15/30250,000238,272
Magallanes, Inc. (A), 5.141%, 3/15/5275,00076,751
Magallanes, Inc. (A), 5.391%, 3/15/6250,00051,560
T-Mobile USA, Inc. (D), 2.625%, 4/15/26100,00095,818
Verizon Communications, Inc., 4.329%, 9/21/28309,000326,558
3,069,264
Consumer Discretionary - 0.6%
7-Eleven, Inc. (A), 1.8%, 2/10/31125,000107,676
Hilton Domestic Operating Co., Inc. (A), 5.375%, 5/1/25100,000102,305
Lowe's Cos., Inc., 3%, 10/15/50300,000255,076
Lowe's Cos., Inc., 4.25%, 4/1/52125,000129,370
McDonald's Corp., 2.125%, 3/1/30100,00090,992
Picasso Finance Sub, Inc. (A), 6.125%, 6/15/2590,00091,463
Southwest Airlines Co., 5.25%, 5/4/2575,00078,846
Southwest Airlines Co., 5.125%, 6/15/27300,000321,177
Tractor Supply Co., 1.75%, 11/1/30125,000107,386
Walgreens Boots Alliance, Inc., 3.45%, 6/1/26123,000123,772
1,408,063
See accompanying Notes to Portfolios of Investments.
        17

Ultra Series Fund | March 31, 2022
Diversified Income Fund Portfolio of Investments (unaudited)

Consumer Staples - 0.4%
Conagra Brands, Inc., 0.5%, 8/11/23250,000242,125
Hormel Foods Corp., 1.8%, 6/11/3075,00067,223
Keurig Dr Pepper, Inc., 3.8%, 5/1/50100,00094,943
Mars, Inc. (A), 3.875%, 4/1/39150,000151,784
Mars, Inc. (A), 2.375%, 7/16/40250,000209,256
Performance Food Group, Inc. (A), 5.5%, 10/15/2750,00049,813
Sysco Corp., 5.95%, 4/1/3083,00096,203
911,347
Energy - 1.7%
Energy Transfer LP, 5.25%, 4/15/29100,000106,722
Enterprise Products Operating LLC, 3.75%, 2/15/25250,000254,731
Exxon Mobil Corp., 4.114%, 3/1/46375,000404,548
Kinder Morgan, Inc., 5.55%, 6/1/45250,000279,757
Marathon Petroleum Corp., 4.7%, 5/1/25125,000130,038
MPLX LP, 4.8%, 2/15/29150,000159,934
MPLX LP, 2.65%, 8/15/30100,00091,615
Phillips 66, 2.15%, 12/15/30250,000222,087
Phillips 66, 4.65%, 11/15/34500,000533,691
Pioneer Natural Resources Co., 2.15%, 1/15/31125,000112,664
Sabine Pass Liquefaction LLC, 4.5%, 5/15/30100,000104,589
Schlumberger Holdings Corp. (A), 4%, 12/21/2526,00026,456
Schlumberger Holdings Corp. (A), 3.9%, 5/17/28390,000394,674
Valero Energy Corp., 6.625%, 6/15/37500,000616,059
Valero Energy Corp., 4%, 6/1/5275,00070,446
Valero Energy Partners LP, 4.5%, 3/15/28350,000359,111
3,867,122
Financials - 2.9%
Air Lease Corp., 1.875%, 8/15/26150,000138,043
Bank of America Corp .(SOFR + 0.910%) (C), 1.658%, 3/11/27200,000186,664
Bank of America Corp. (SOFR + 1.060%) (C), 2.087%, 6/14/29100,00091,515
Bank of America Corp., (5 year CMT + 2.000%) (C), 3.846%, 3/8/37100,00095,778
Bank of New York Mellon Corp., Series I, (5 year CMT + 2.630%) (C), 3.75%, 12/20/26200,000183,500
Belrose Funding Trust (A), 2.33%, 8/15/30100,00087,597
Berkshire Hathaway Finance Corp., 3.85%, 3/15/52125,000127,748
BlackRock, Inc., 2.1%, 2/25/32100,00090,643
Brixmor Operating Partnership LP, 3.65%, 6/15/24100,000100,799
Capital One Financial Corp. (5 year CMT + 3.157%) (C) (D), 3.95%, 9/1/26100,00092,750
Capital One Financial Corp., (SOFR + 1.790%) (C), 3.273%, 3/1/30100,00096,630
Cboe Global Markets, Inc., 3.65%, 1/12/27300,000305,724
Charles Schwab Corp. (10 year CMT + 3.079%) (C), 4%, 12/1/30175,000157,171
Empower Finance LP (A), 3.075%, 9/17/5175,00063,466
Fifth Third Bancorp (D), 2.55%, 5/5/27125,000120,957
GLP Capital LP / GLP Financing, Inc., 3.25%, 1/15/32100,00090,730
Goldman Sachs BDC, Inc. (D), 2.875%, 1/15/26100,00096,330
Goldman Sachs Group, Inc. (SOFR + 0.913%) (C), 1.948%, 10/21/27250,000232,663
Healthpeak Properties, Inc., 3.25%, 7/15/26100,00099,975
Huntington Bancshares, Inc. (5 year CMT + 1.170%) (A) (C), 2.487%, 8/15/36300,000261,061
Iron Mountain, Inc. (A), 4.5%, 2/15/31100,00092,351
Jefferies Group LLC / Jefferies Group Capital Finance, Inc., 2.625%, 10/15/31175,000157,759
JPMorgan Chase & Co., Series II, (SOFR + 2.745%) (C) (D), 4%, 4/1/25350,000330,750
See accompanying Notes to Portfolios of Investments.
        18

Ultra Series Fund | March 31, 2022
Diversified Income Fund Portfolio of Investments (unaudited)

JPMorgan Chase & Co. (SOFR + 0.695%) (C), 1.04%, 2/4/27250,000229,357
KKR Group Finance Co. VIII LLC (A), 3.5%, 8/25/50125,000108,976
Liberty Mutual Group, Inc. (A), 3.95%, 5/15/6050,00045,465
Morgan Stanley, 3.875%, 1/27/26200,000204,040
Morgan Stanley, (SOFR + 0.879%) (C), 1.593%, 5/4/27150,000139,540
Morgan Stanley, (SOFR + 1.020%) (C), 1.928%, 4/28/32500,000432,233
NASDAQ, Inc., 1.65%, 1/15/31400,000337,279
Omega Healthcare Investors, Inc., 3.375%, 2/1/31200,000183,243
Prudential Financial, Inc. (5 year CMT + 3.035%) (C), 3.7%, 10/1/50125,000114,550
STORE Capital Corp., 4.5%, 3/15/28200,000205,370
Synchrony Financial, 3.7%, 8/4/26250,000248,975
Teachers Insurance & Annuity Association of America (A), 3.3%, 5/15/50100,00088,483
Truist Bank, 2.25%, 3/11/3050,00045,837
Truist Financial Corp., (SOFR + 0.609%) (C), 1.267%, 3/2/27200,000185,431
Wells Fargo & Co., (SOFR + 2.100%) (C), 2.393%, 6/2/28175,000165,740
Welltower, Inc., 2.05%, 1/15/29150,000136,741
Western Union Co., 2.85%, 1/10/25200,000197,900
Weyerhaeuser Co., 3.375%, 3/9/33100,00097,409
6,467,173
Health Care - 1.0%
Anthem, Inc., 2.375%, 1/15/25200,000197,356
Baxter International, Inc. (A), 2.272%, 12/1/28300,000278,473
Cigna Corp., 4.375%, 10/15/2850,00052,690
Cigna Corp., 4.9%, 12/15/48100,000111,997
CVS Health Corp., 5.125%, 7/20/45400,000451,981
Health Care Service Corp. A Mutual Legal Reserve Co. (A), 2.2%, 6/1/3075,00068,155
PerkinElmer, Inc., 0.55%, 9/15/23325,000315,754
UnitedHealth Group, Inc., 3.7%, 8/15/49150,000152,130
Viatris, Inc., 2.7%, 6/22/30200,000175,936
Zoetis, Inc., 3%, 9/12/27225,000224,464
Zoetis, Inc., 3%, 5/15/50175,000154,975
2,183,911
Industrials - 0.9%
Ashtead Capital, Inc. (A), 2.45%, 8/12/31275,000241,654
Block, Inc. (A), 2.75%, 6/1/26200,000189,044
Boeing Co., 2.196%, 2/4/26150,000141,973
Boeing Co., 3.625%, 2/1/31125,000121,685
Boeing Co., 5.805%, 5/1/5075,00086,564
Martin Marietta Materials, Inc., 3.2%, 7/15/51300,000256,190
Quanta Services, Inc., 2.9%, 10/1/30150,000138,801
TD SYNNEX Corp. (A), 2.65%, 8/9/3150,00042,943
Textron, Inc. (D), 2.45%, 3/15/31150,000135,823
TransDigm, Inc. (A), 6.25%, 3/15/26100,000102,813
Vulcan Materials Co., 3.5%, 6/1/30175,000173,589
WRKCo, Inc., 3.9%, 6/1/28175,000175,702
WRKCo, Inc., 3%, 6/15/33100,00093,411
1,900,192
Information Technology - 0.7%
Broadcom, Inc. (A), 3.187%, 11/15/365,0004,385
Citrix Systems, Inc., 4.5%, 12/1/2785,00086,997
Dell International LLC / EMC Corp., 8.35%, 7/15/4644,00064,275
See accompanying Notes to Portfolios of Investments.
        19

Ultra Series Fund | March 31, 2022
Diversified Income Fund Portfolio of Investments (unaudited)

Dell International LLC / EMC Corp. (A), 3.45%, 12/15/51200,000162,764
Gartner, Inc. (A), 4.5%, 7/1/28100,00099,979
HP, Inc., 2.65%, 6/17/31300,000268,450
Intel Corp., 3.734%, 12/8/47435,000434,231
Intuit, Inc., 1.65%, 7/15/30100,00088,241
Oracle Corp., 3.95%, 3/25/51200,000174,751
salesforce.com, Inc., 2.9%, 7/15/51150,000133,105
1,517,178
Materials - 0.3%
DuPont de Nemours, Inc., 4.725%, 11/15/28295,000316,716
EI du Pont de Nemours and Co., 1.7%, 7/15/2550,00047,964
International Flavors & Fragrances, Inc. (A), 1.832%, 10/15/27250,000227,629
592,309
Utilities - 0.3%
AES Corp., 1.375%, 1/15/26250,000230,166
Berkshire Hathaway Energy Co., 1.65%, 5/15/31125,000108,868
Florida Power & Light Co., 2.875%, 12/4/51150,000134,387
Interstate Power & Light Co., 3.5%, 9/30/49150,000136,229
Wisconsin Electric Power Co., 1.7%, 6/15/28100,00090,525
700,175
Total Corporate Notes and Bonds
( Cost $23,276,109 )
22,616,734
FOREIGN CORPORATE BONDS - 0.6%
Communication Service - 0.1%
Thomson Reuters Corp. (D), 4.3%, 11/23/23200,000204,256
Financials - 0.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 1.75%, 1/30/26200,000183,073
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (D), 4.625%, 10/15/27150,000152,849
Avolon Holdings Funding Ltd. (A), 2.125%, 2/21/26200,000182,827
UBS Group AG (5 year CMT + 3.313%) (A) (C), 4.375%, 2/10/31200,000180,500
699,249
Health Care - 0.2%
Royalty Pharma PLC, 2.2%, 9/2/30200,000174,882
Royalty Pharma PLC, 3.55%, 9/2/50200,000165,873
340,755
Total Foreign Corporate Bonds
( Cost $1,331,136 )
1,244,260
LONG TERM MUNICIPAL BONDS - 0.5%
Metropolitan Transportation Authority Revenue, 6.548%, 11/15/311,000,0001,170,092
University of Massachusetts Building Authority Revenue, 6.573%, 5/1/3970,00070,225
Total Long Term Municipal Bonds
( Cost $1,288,406 )
1,240,317
MORTGAGE BACKED SECURITIES - 4.4%
Fannie Mae - 2.8%
3%, 9/1/30 Pool # 890696221,521223,883
3%, 12/1/30 Pool # AL8924153,877155,161
7%, 11/1/31 Pool # 60751514,03215,001
3.5%, 12/1/31 Pool # MA091962,56563,404
See accompanying Notes to Portfolios of Investments.
        20

Ultra Series Fund | March 31, 2022
Diversified Income Fund Portfolio of Investments (unaudited)

7%, 5/1/32 Pool # 6445912,8412,917
3.5%, 8/1/32 Pool # MA309856,14657,692
5.5%, 10/1/33 Pool # 25490465,34971,589
5.5%, 11/1/33 Pool # 555880154,400167,579
5%, 5/1/34 Pool # 780890200,565216,992
4%, 2/1/35 Pool # MA2177255,681266,379
5%, 9/1/35 Pool # 83569992,54398,409
5%, 9/1/35 Pool # 820347111,796121,253
5%, 12/1/35 Pool # 85056127,75629,961
5.5%, 9/1/36 Pool # 831820149,827162,310
5.5%, 10/1/36 Pool # 90172327,81829,619
5.5%, 12/1/36 Pool # 903059135,333145,620
4%, 1/1/41 Pool # AB2080231,690242,598
2.5%, 5/1/41 Pool # MA4334227,343220,056
4.5%, 7/1/41 Pool # AB327468,97373,466
5.5%, 7/1/41 Pool # AL6588271,382297,149
4%, 9/1/41 Pool # AJ1406114,537119,618
4%, 10/1/41 Pool # AJ4046234,439247,136
1.099%, 12/25/41 Pool # AL6778, (SOFR30A + 1.000%) (A) (C),266,122263,428
3.5%, 6/1/42 Pool # AO4134201,451205,302
3.5%, 6/1/42 Pool # AO4136197,129200,888
3.5%, 8/1/42 Pool # AP2133202,846206,714
4%, 10/1/42 Pool # AP7363187,792196,363
3%, 2/1/43 Pool # AL3072379,317379,379
3%, 2/1/43 Pool # AB8486347,175347,089
3.5%, 3/1/43 Pool # AT0310209,925214,284
4%, 1/1/45 Pool # AS425752,39454,718
4.5%, 2/1/45 Pool # MA2193152,714161,895
3.5%, 4/1/45 Pool # MA2229147,021149,893
3.5%, 11/1/45 Pool # BA4907156,936159,601
3.5%, 12/1/45 Pool # AS630945,74046,629
2.5%, 12/1/47 Pool # FM3165131,555126,511
4%, 7/1/48 Pool # MA3415103,683106,136
4%, 11/1/50 Pool # FM5530239,944245,387
6,092,009
Freddie Mac - 1.6%
4.5%, 2/1/25 Pool # J1172220,77821,464
4.5%, 5/1/25 Pool # J1224719,45820,155
8%, 6/1/30 Pool # C010055,2525,833
6.5%, 1/1/32 Pool # C6233351,55855,405
2.5%, 6/1/35 Pool # RC1421182,880181,152
3.5%, 11/1/40 Pool # G0616891,90793,880
2%, 3/1/41 Pool # RB5105439,206412,364
2.5%, 6/1/41 Pool # SC0151235,242228,502
4.5%, 9/1/41 Pool # Q03516178,313189,706
4%, 10/1/41 Pool # Q04092255,775267,368
3%, 9/1/42 Pool # C04233216,650216,835
3%, 4/1/43 Pool # V80026339,304339,385
3%, 4/1/43 Pool # V80025342,687341,278
3%, 7/1/45 Pool # G08653170,375