Page 1 of 22 - T. Rowe Price Investment Management · 2020-07-15 · T. Rowe Price Balanced Fund 06/30/2020 (Unaudited) Portfolio of Investments Investments in Securities Coupon %

T. Rowe Price Balanced Fund 06/30/2020

(Unaudited)

Portfolio of Investments

Investments in Securities Coupon % Maturity Shares/Par Value ($) % of Net Assets

ABB 321,427 7,290,908 0.171%

Abbott Laboratories 3.4 11/30/23 1,281,000 1,394,940 0.033%

Abbott Laboratories 1.15 1/30/28 1,460,000 1,459,511 0.034%

Abbott Laboratories 32,144 2,938,926 0.069%

AbbVie 2.95 11/21/26 920,000 999,361 0.024%

AbbVie 3.6 5/14/25 1,630,000 1,801,142 0.042%

AbbVie 3.2 5/14/26 420,000 463,953 0.011%

AbbVie 4.5 5/14/35 1,900,000 2,301,476 0.054%

AbbVie 207,557 20,377,946 0.479%

Abn Amro Bank 4.75 7/28/25 940,000 1,035,645 0.024%

Accenture 19,891 4,270,996 0.100%

Activision Blizzard 4,535 344,207 0.008%

Advanced Micro Devices 115,215 6,061,461 0.143%

AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.5 5/26/22 560,000 552,892 0.013%

AerCap Ireland Capital DAC / AerCap Global Aviation Trust 6.5 7/15/25 365,000 382,413 0.009%

AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.13 7/3/23 1,945,000 1,905,800 0.045%

AES 31,900 462,231 0.011%

Agilent Technologies 3.2 10/1/22 710,000 742,327 0.017%

Agilent Technologies 3.88 7/15/23 975,000 1,058,909 0.025%

Agilent Technologies 69,874 6,174,765 0.145%

AHS Hospital 5.02 7/1/45 1,600,000 2,070,368 0.049%

Aia 3.2 3/11/25 1,020,000 1,077,661 0.025%

Aia 3.6 4/9/29 1,280,000 1,405,185 0.033%

AIA Group 449,800 4,209,051 0.099%

AIG Global Funding 3.35 6/25/21 1,600,000 1,643,808 0.039%

AIG Global Funding 2.15 7/2/20 615,000 615,028 0.014%

Air Lease 2.5 3/1/21 980,000 979,661 0.023%

Air Lease 3.63 4/1/27 1,025,000 999,193 0.023%

Air Liquide 41,633 6,019,555 0.142%

Air Products & Chemicals 313 75,577 0.002%

Alaska Air Group 13,429 486,936 0.011%

Alcon 36,825 2,115,936 0.050%

Alcon Finance 2.6 5/27/30 1,300,000 1,323,071 0.031%

Alexandria Real Estate Equities 3.95 1/15/27 655,000 733,492 0.017%

Alexandria Real Estate, REIT 2,900 470,525 0.011%

Alexion Pharmaceuticals 17,826 2,000,790 0.047%

Alfa SAB de CV 5.25 3/25/24 395,000 422,115 0.010%

Alibaba Group Holding, ADR 138,008 29,768,326 0.700%

Allstate 5.55 5/9/35 1,000,000 1,413,591 0.033%

Ally Financial 52,330 1,037,704 0.024%

Alphabet Class A 11,455 16,243,763 0.382%

Alphabet Class C 43,055 60,862,979 1.431%

Altria 4.75 5/5/21 535,000 554,315 0.013%

Altria 2.35 5/6/25 415,000 437,103 0.010%

Altria Group 139,640 5,480,870 0.129%

Amadeus IT 68,667 3,605,148 0.085%

Amazon.com 5.2 12/3/25 1,850,000 2,259,183 0.053%

Amazon.com 2.8 8/22/24 1,055,000 1,144,784 0.027%

Amazon.com 3.88 8/22/37 1,645,000 2,031,011 0.048%

Amazon.com 39,036 107,693,298 2.533%

Amcor 314,236 3,173,819 0.075%

Ameren 121,401 8,541,774 0.201%

America Movil SAB de CV 6.38 3/1/35 300,000 437,966 0.010%

America Movil SAB de CV 2.88 5/7/30 2,525,000 2,669,998 0.063%

American Airlines 2014-1 Class A Pass Through Trust 3.7 10/1/26 905,029 760,297 0.018%

American Airlines 2016-1 Class B Pass Through Trust 5.25 1/15/24 1,703,495 1,151,230 0.027%

American Campus Communities Operating Partnership 3.63 11/15/27 1,860,000 1,908,468 0.045%

American Electric Power 13,481 1,073,627 0.025%

American Express 3.7 11/5/21 2,040,000 2,121,653 0.050%

American International 3.4 6/30/30 1,975,000 2,124,837 0.050%

American International Group 623,763 19,448,930 0.457%

American Tower, REIT 12,171 3,146,690 0.074%

Amgen 5.75 3/15/40 325,000 444,877 0.010%

Amgen 15,824 3,732,249 0.088%

Amphenol 21,553 2,064,993 0.049%

Page 1 of 22

Analog Devices 4,100 502,824 0.012%

Angel Oak Mortgage Trust 1.69 4/25/65 1,335,000 1,334,993 0.031%

Anheuser-Busch InBev Worldwide 5.55 1/23/49 2,120,000 2,824,203 0.066%

Anthem 2.5 11/21/20 695,000 700,381 0.016%

Anthem 4.65 1/15/43 915,000 1,159,046 0.027%

Anthem 46,986 12,356,378 0.291%

Antofagasta 403,892 4,674,775 0.110%

ANZ New Zealand Int l Ltd/London 2.75 1/22/21 1,965,000 1,990,779 0.047%

ANZ New Zealand Int l Ltd/London 2.2 7/17/20 930,000 930,698 0.022%

Aon 2.8 3/15/21 2,085,000 2,116,229 0.050%

Appalachian Power 4.45 6/1/45 2,450,000 2,950,501 0.069%

Apple 1.65 5/11/30 2,345,000 2,406,380 0.057%

Apple 197,431 72,022,829 1.694%

Applied Materials 346,533 20,947,920 0.493%

Aptiv 4.15 3/15/24 745,000 789,637 0.019%

Aptiv 14,959 1,165,605 0.027%

APT Pipelines 4.25 7/15/27 620,000 692,774 0.016%

Arbys Funding 2015-1A 4.97 10/30/45 3,079,875 3,138,239 0.074%

Asahi Kasei 516,600 4,228,780 0.099%

Ascendis Pharma, ADR 11,660 1,724,514 0.041%

Ashford Hospitality Trust 2018-ASHF 1.08 4/15/35 2,269,875 2,104,994 0.050%

Ashtead 102,384 3,453,713 0.081%

ASML Holding 5,727 2,107,708 0.050%

ASML Holding 26,394 9,655,226 0.227%

ASOS 131,253 5,578,552 0.131%

Astellas Pharma 833,200 13,914,075 0.327%

Atlassian 13,174 2,374,877 0.056%

Atmos Energy 4.15 1/15/43 1,500,000 1,835,223 0.043%

Atmos Energy 11,094 1,104,741 0.026%

Atrium Hotel Portfolio Trust 2017-ATRM 1.11 12/15/36 2,530,000 2,350,153 0.055%

AT&T 2.75 6/1/31 3,390,000 3,494,144 0.082%

AT&T 148,862 4,500,098 0.106%

Ausgrid Finance Pty 3.85 5/1/23 1,705,000 1,795,888 0.042%

Australia & New Zealand Banking 258,554 3,354,765 0.079%

Autoliv 50,819 3,313,209 0.078%

Automatic Data Processing 486 72,361 0.002%

Autoridad del Canal de Panama 4.95 7/29/35 510,000 583,596 0.014%

AutoZone 4 11/15/20 825,000 828,770 0.019%

AutoZone 3.13 4/21/26 650,000 715,457 0.017%

AutoZone 902 1,017,564 0.024%

AvalonBay Communities, REIT 9,403 1,454,080 0.034%

Avery Dennison 8,441 963,034 0.023%

Avis Budget Rental Car Funding AESOP 3.41 9/20/23 1,000,000 964,730 0.023%

Avis Budget Rental Car Funding AESOP 3.55 9/22/25 1,165,000 1,148,389 0.027%

Aviva 808,683 2,740,922 0.064%

AXA 529,906 11,150,723 0.262%

Baidu 3.88 9/29/23 2,000,000 2,133,195 0.050%

Baidu, ADR 11,740 1,407,509 0.033%

Baltimore Gas & Electric 3.35 7/1/23 1,750,000 1,868,144 0.044%

Banco Santander 3.13 2/23/23 1,000,000 1,040,827 0.024%

Banco Santander 3.85 4/12/23 2,000,000 2,125,846 0.050%

Banco Santander 3.49 5/28/30 200,000 214,951 0.005%

Banco Santander Chile 2.7 1/10/25 1,322,000 1,360,014 0.032%

Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand 5.38 4/17/25 1,110,000 1,216,865 0.029%

Bank of America 6.11 1/29/37 900,000 1,278,550 0.030%

Bank of America 6.75 6/1/28 700,000 913,819 0.021%

Bank of America 2.68 6/19/41 2,620,000 2,688,775 0.063%

Bank of America 0.95 6/25/22 2,575,000 2,577,261 0.061%

Bank of America 4.2 8/26/24 600,000 665,924 0.016%

Bank of America 706,019 16,767,951 0.394%

Bank of Montreal 3.1 4/13/21 2,835,000 2,891,632 0.068%

Bank of Nova Scotia 3.13 4/20/21 3,275,000 3,347,767 0.079%

Barclays 3.25 1/12/21 1,800,000 1,795,444 0.042%

Barclays 2.85 5/7/26 1,880,000 1,974,071 0.046%

Barclays Bank 2.65 1/11/21 1,515,000 1,524,413 0.036%

Barclays Bank 1.7 5/12/22 700,000 710,357 0.017%

BASF 75,755 4,255,088 0.100%

BAT Capital 2.76 8/15/22 2,205,000 2,280,521 0.054%

Bausch Health 120,124 2,197,068 0.052%

Bayer 142,490 10,561,815 0.248%

Baylor Scott & White Holdings 3.97 11/15/46 1,850,000 2,285,242 0.054%

BBCMS 2019-BWAY Mortgage Trust 2.34 11/25/34 605,000 570,254 0.013%

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Becton Dickinson And 2.82 5/20/30 1,380,000 1,449,288 0.034%

Becton Dickinson And 13,547 709,467 0.017%

Becton Dickinson And 3.7 6/6/27 1,956,000 2,174,738 0.051%

Becton, Dickinson & Company 54,120 12,949,292 0.305%

Beijing Enterprises Holdings 538,000 1,806,642 0.042%

Berkshire Hathaway 38,076 6,796,947 0.160%

Berkshire Hathaway Energy 5.15 11/15/43 1,350,000 1,820,941 0.043%

Bermuda Government International Bond 4.14 1/3/23 615,000 647,998 0.015%

Bermuda Government International Bond 4.85 2/6/24 644,000 705,917 0.017%

BFLD 2019-DPLO 1.72 10/15/34 2,080,000 1,902,990 0.045%

Bhp 242,022 4,952,496 0.116%

Bhp 93,739 2,333,896 0.055%

Biogen 3.63 9/15/22 1,095,000 1,163,305 0.027%

Biogen 4,521 1,209,594 0.028%

BMW US Capital 3.4 8/13/21 2,835,000 2,909,320 0.068%

Bnp Paribas 2.22 6/9/26 1,315,000 1,343,459 0.032%

BNP Paribas 152,755 6,103,145 0.144%

Boardwalk Pipelines 4.95 12/15/24 780,000 834,285 0.020%

Boardwalk Pipelines 4.45 7/15/27 385,000 403,280 0.009%

Boeing 21,878 4,010,237 0.094%

Booking Holdings 3.65 3/15/25 1,515,000 1,659,675 0.039%

Booking Holdings 3.6 6/1/26 2,020,000 2,216,199 0.052%

Booking Holdings 5,426 8,640,037 0.203%

Boral Finance Pty 3 11/1/22 220,000 221,709 0.005%

Boston Properties 3.65 2/1/26 1,165,000 1,288,853 0.030%

Boston Properties 4.13 5/15/21 375,000 382,484 0.009%

Boston Properties 3.13 9/1/23 625,000 661,732 0.016%

Boston Scientific 163,006 5,723,141 0.135%

Bpce 5.7 10/22/23 1,700,000 1,893,375 0.045%

Bpce 4.5 3/15/25 1,000,000 1,089,021 0.026%

Bpce 3 5/22/22 425,000 439,271 0.010%

Bpce 4 9/12/23 1,350,000 1,457,549 0.034%

Bre Grand Islander Timeshare Issuer 2019 3.28 9/26/33 590,624 587,838 0.014%

Bristol-Myers Squibb 4.63 5/15/44 1,200,000 1,588,606 0.037%

Bristol-Myers Squibb 3.55 8/15/22 1,700,000 1,794,857 0.042%

Bristol-Myers Squibb 10,326 607,169 0.014%

Brixmor Operating Partnership 3.9 3/15/27 565,000 576,081 0.014%

Brixmor Operating Partnership 4.13 6/15/26 1,220,000 1,280,181 0.030%

Brixmor Operating Partnership 3.88 8/15/22 865,000 895,075 0.021%

Broadcom 354 395,832 0.009%

Broadcom 46,638 14,719,419 0.346%

Broadridge Financial Solutions 900 113,571 0.003%

Bunzl 96,990 2,601,564 0.061%

Burberry 169,822 3,355,689 0.079%

Burlington Northern Santa Fe 6.15 5/1/37 650,000 964,391 0.023%

Burlington Northern Santa Fe 4.38 9/1/42 1,400,000 1,757,867 0.041%

Burlington Stores 2,993 589,411 0.014%

Camden Property Trust 2.95 12/15/22 565,000 588,036 0.014%

Cameron LNG 3.7 1/15/39 475,000 508,421 0.012%

Cameron LNG 2.9 7/15/31 575,000 617,962 0.015%

Canadian Natural Resources 2.95 7/15/30 1,700,000 1,692,979 0.040%

Canadian Pacific Railway 5,453 1,392,369 0.033%

Cantor Commercial Real Estate Lending 2019-CF1 4.41 5/15/52 800,000 804,190 0.019%

Capital One Financial 3.45 4/30/21 2,730,000 2,784,507 0.065%

Capital One Financial 3.65 5/11/27 1,215,000 1,327,459 0.031%

Capital One Financial 133,881 8,379,612 0.197%

Cardinal Health 3.41 6/15/27 1,570,000 1,757,303 0.041%

Cardinal Health 3.75 9/15/25 1,005,000 1,120,477 0.026%

CarMax 13,310 1,191,911 0.028%

CarMax Auto Owner Trust 2017-4 2.11 10/17/22 268,097 269,988 0.006%

CarMax Auto Owner Trust 2018-2 2.98 1/17/23 1,038,806 1,055,204 0.025%

Carpenter Technology 4.45 3/1/23 790,000 778,896 0.018%

Carrier Global 4,399 97,746 0.002%

Caterpillar Financial Services 3.15 9/7/21 2,665,000 2,748,393 0.065%

Cboe Global Markets 1,610 150,181 0.004%

CC Holdings GS V LLC / Crown Castle GS III 3.85 4/15/23 440,000 474,651 0.011%

CDW Corp/DE 7,714 896,213 0.021%

Celanese 7,667 661,969 0.016%

Celulosa Arauco Y Constitucion 4.2 1/29/30 505,000 515,322 0.012%

Centene 117,008 7,435,858 0.175%

Central Japan Railway 26,800 4,144,841 0.097%

Central Texas Turnpike System 3.03 8/15/41 1,820,000 1,735,024 0.041%

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CF Industries 17,259 485,668 0.011%

Challenger Ltd/Australia 607,509 1,881,307 0.044%

Charles Schwab 146,731 4,950,704 0.116%

Charter Communications 4,738 2,416,570 0.057%

Charter Communications Operating LLC / Charter Communications Operating Capital 4.91 7/23/25 2,465,000 2,826,206 0.066%

Chevron 2 5/11/27 1,155,000 1,204,934 0.028%

Chevron 80,790 7,208,892 0.170%

Chicago O Hare International Airport 6.4 1/1/40 755,000 1,125,969 0.026%

Chipotle Mexican Grill 2,444 2,571,968 0.060%

Chubb 74,176 9,392,165 0.221%

CIFC Funding 2015-V 1.85 10/25/27 2,375,000 2,339,104 0.055%

Cigna 3.75 7/15/23 2,307,000 2,502,721 0.059%

Cigna 3 7/15/23 810,000 858,814 0.020%

Cigna 76,027 14,266,467 0.336%

Cintas 6,054 1,612,543 0.038%

Cisco Systems 113,586 5,297,651 0.125%

Citibank NA 2.13 10/20/20 2,000,000 2,007,486 0.047%

Citigroup 2.98 11/5/30 2,750,000 2,921,309 0.069%

Citigroup 4.08 4/23/29 2,000,000 2,278,648 0.054%

Citigroup 2.35 8/2/21 1,460,000 1,487,429 0.035%

Citigroup 33,221 1,697,593 0.040%

Citigroup Commercial Mortgage Trust 2014-GC21 4.03 5/10/47 235,000 247,710 0.006%

Citigroup Commercial Mortgage Trust 2020-555 2.65 12/10/41 2,115,000 2,176,184 0.051%

Citizens Bank NA/Providence RI 2.55 5/13/21 1,085,000 1,102,636 0.026%

Citizens Financial 2.38 7/28/21 210,000 212,919 0.005%

Citrix Systems 12,155 1,797,846 0.042%

City of Los Angeles department of Airports 7.05 5/15/40 1,000,000 1,541,540 0.036%

CK Hutchison Holdings 448,968 2,907,331 0.068%

Close Brothers 73,165 1,001,668 0.024%

CME Group 34,038 5,532,537 0.130%

CMS Energy 4.88 3/1/44 1,200,000 1,532,836 0.036%

CMS Energy 4.7 3/31/43 840,000 1,006,692 0.024%

Cnh Equipment Trust 2017 2.08 2/15/23 603,482 607,585 0.014%

Cnh Equipment Trust 2019 2.35 4/15/27 2,575,000 2,586,508 0.061%

CNOOC Curtis Funding No 1 Pty 4.5 10/3/23 900,000 989,404 0.023%

CNOOC Finance 2013 3 5/9/23 1,390,000 1,452,133 0.034%

Coca-Cola 63,677 2,845,088 0.067%

Cognizant Technology Solutions 32,294 1,834,945 0.043%

Colombia Government International Bond 4 2/26/24 275,000 288,837 0.007%

COLT 2019-2 Mortgage Loan Trust 3.34 5/25/49 744,285 753,136 0.018%

COLT 2019-2 Mortgage Loan Trust 3.54 5/25/49 876,930 882,140 0.021%

Comcast 4.15 10/15/28 2,455,000 2,941,463 0.069%

Comcast 1.95 1/15/31 1,280,000 1,303,140 0.031%

Comcast 2.65 2/1/30 1,455,000 1,579,666 0.037%

Comcast 192,879 7,518,423 0.177%

COMM 2014-LC15 Mortgage Trust 4.6 4/10/47 2,495,000 2,580,895 0.061%

COMM 2015-LC21 Mortgage Trust 3.71 7/10/48 3,700,000 4,066,240 0.096%

COMM 2017-PANW Mortgage Trust 3.24 10/10/29 2,160,000 2,223,362 0.052%

CommonSpirit Health 2.76 10/1/24 960,000 986,837 0.023%

Compass Group 233,091 3,206,962 0.075%

Conagra Brands 70,749 2,488,242 0.059%

Concho Resources 3.75 10/1/27 665,000 709,056 0.017%

Concho Resources 14,531 748,347 0.018%

ConocoPhillips 89,501 3,760,832 0.088%

Constellation Brands 4,128 722,194 0.017%

Continental Airlines 2010-1 Class A Pass Through Trust 4.75 1/12/21 118,214 115,436 0.003%

Continental Resources Inc/OK 4.38 1/15/28 445,000 392,713 0.009%

Cooperatieve Rabobank UA/NY 3.13 4/26/21 1,805,000 1,843,250 0.043%

Cooper Companies 1,197 339,517 0.008%

Corp Nacional del Cobre de Chile 3 9/30/29 2,645,000 2,741,040 0.064%

CoStar Group 6,779 4,817,632 0.113%

Costco Wholesale 11,406 3,458,413 0.081%

Coupa Software 1,627 450,744 0.011%

Covestro 74,880 2,852,035 0.067%

Credit Agricole SA/London 3.75 4/24/23 2,125,000 2,265,012 0.053%

Credit Suisse 3 12/14/23 1,385,000 1,436,498 0.034%

Credit Suisse 2.59 9/11/25 2,095,000 2,161,055 0.051%

CRH America Finance 3.95 4/4/28 2,600,000 2,841,844 0.067%

Crown Castle International 2.25 1/15/31 1,440,000 1,442,360 0.034%

Crown Castle International 3.4 2/15/21 485,000 492,796 0.012%

Crown Castle International, REIT 6,092 1,019,496 0.024%

Crown Castle Towers 3.66 5/15/25 485,000 516,803 0.012%

Page 4 of 22



CSL 11,519 2,290,995 0.054%

Cummins 19,520 3,382,035 0.080%

CVS Health 66,878 4,345,064 0.102%

CyberAgent 92,900 4,566,376 0.107%

Dallas/Fort Worth International Airport 2.99 11/1/38 1,155,000 1,197,458 0.028%

Danaher 195,978 34,654,790 0.815%

Danone 2.95 11/2/26 1,925,000 2,093,719 0.049%

Danske Bank 3.24 12/20/25 2,940,000 3,050,250 0.072%

Darden Restaurants 3,631 275,121 0.006%

DBS Group 180,200 2,711,439 0.064%

DCC 53,977 4,504,025 0.106%

Deephaven Residential Mortgage Trust 2018-1 2.98 12/25/57 405,947 409,852 0.010%

Deephave Residential Mortgage Trust 2019-2 3.56 4/25/59 810,524 813,463 0.019%

Deere 42,500 6,678,875 0.157%

Delta Air Lines 3.8 4/19/23 765,000 680,850 0.016%

Denso 73,800 2,894,218 0.068%

Detroit City School District 6.65 5/1/29 2,000,000 2,647,540 0.062%

Diageo 186,862 6,210,778 0.146%

Diamondback Energy 2.88 12/1/24 2,485,000 2,488,106 0.059%

Diamondback Energy 4.75 5/31/25 1,215,000 1,302,899 0.031%

Digital Realty Trust, REIT 7,727 1,098,084 0.026%

Direct Line Insurance 423,980 1,421,624 0.033%

Discover Bank 2.7 2/6/30 2,000,000 2,001,346 0.047%

Discover Financial Services 3.75 3/4/25 590,000 636,099 0.015%

DISH Network 4,973 171,618 0.004%

DNB 573,806 7,658,876 0.180%

DocuSign 19,333 3,329,336 0.078%

Dollar General 51,672 9,844,033 0.232%

Dollar Tree 13,971 1,294,832 0.030%

Dominion Energy 2.58 7/1/20 640,000 640,000 0.015%

Dominion Energy 2.75 9/15/22 200,000 207,221 0.005%

Dominion Energy 42,900 3,482,622 0.082%

Dow Chemical 3.15 5/15/24 935,000 996,341 0.023%

DRIVEN BRANDS FUNDING 3.79 7/20/50 675,000 675,000 0.016%

Duke Energy 2.65 9/1/26 640,000 693,837 0.016%

Duke Energy 3.75 9/1/46 500,000 569,845 0.013%

DuPont de Nemours 82,454 4,380,781 0.103%

Eaton Vance 3.63 6/15/23 750,000 786,451 0.018%

Edison International 26,777 1,454,259 0.034%

Elanco Animal Health 4.66 8/27/21 370,000 379,248 0.009%

Elanco Animal Health 267,053 5,728,287 0.135%

Elara Hgv Timeshare Issuer 2017 2.69 3/25/30 395,240 395,019 0.009%

Electric Power development 178,000 3,374,253 0.079%

Electronic Arts 17,088 2,256,470 0.053%

Elekta 411,560 3,833,836 0.090%

Element Fleet Management 702,398 5,241,081 0.123%

Eli Lilly And 29,896 4,908,325 0.115%

Ellington Financial Mortgage Trust 2019-2 3.05 11/25/59 888,313 891,348 0.021%

Enbridge 4 10/1/23 690,000 747,618 0.018%

Enbridge 4.25 12/1/26 590,000 671,193 0.016%

Enbridge 203,229 6,182,226 0.145%

Enbridge Energy Partners 5.5 9/15/40 245,000 290,446 0.007%

Enel Finance International 2.75 4/6/23 1,665,000 1,724,374 0.041%

Energy Transfer Operating 5.25 4/15/29 1,225,000 1,332,188 0.031%

Energy Transfer Operating 3.75 5/15/30 765,000 757,350 0.018%

Engie 611,493 7,583,660 0.178%

Eni 4 9/12/23 780,000 842,394 0.020%

Entergy 61,206 5,741,735 0.135%

EOG Resources 2.63 3/15/23 500,000 523,830 0.012%

EOG Resources 59,132 2,995,627 0.070%

Equifax 28,509 4,900,127 0.115%

Equinix, REIT 1,057 742,331 0.017%

Equinor 422,811 6,090,876 0.143%

Equitable Financial Life Global Funding 1.4 7/7/25 780,000 781,585 0.018%

Equitable Holdings 3.9 4/20/23 735,000 784,588 0.018%

Equitable Holdings 453,221 8,742,633 0.206%

Equity Residential, REIT 15,152 891,241 0.021%

ERAC USA Finance 3.85 11/15/24 435,000 460,759 0.011%

ERAC USA Finance 4.5 2/15/45 505,000 514,003 0.012%

Erste Group Bank 106,640 2,518,584 0.059%

Page 5 of 22

Essex Portfolio 2.65 3/15/32 1,430,000 1,516,117 0.036%

Essex Property Trust, REIT 2,400 550,008 0.013%

EssilorLuxottica 34,800 4,475,553 0.105%

Estee Lauder 1,872 353,209 0.008%

E*TRADE Financial 163,574 8,134,535 0.191%

Etsy 9,000 956,070 0.022%

Evotec 89,846 2,452,273 0.058%

Exact Sciences 14,131 1,228,549 0.029%

Express Scripts Holding 2.6 11/30/20 1,930,000 1,946,857 0.046%

ExxonMobil 148,562 6,643,693 0.156%

Facebook 258,923 58,793,646 1.383%

Fannie Mae Connecticut Avenue Securities 1.28 11/25/29 2,908,291 2,833,928 0.067%

Fannie Mae REMICS 4 6/25/44 856,012 877,211 0.021%

Federal Home Loan Mortgage 6 10/1/32 2,860 3,182 0.000%

Federal Home Loan Mortgage 3.99 10/1/36 12,770 13,377 0.000%










Federal Home Loan Mortgage 6 11/1/37 282 329 0.000%


Federal Home Loan Mortgage 3.5 11/1/42 1,472,073 1,593,531 0.037%
















Federal Home Loan Mortgage 3 12/1/42 1,743,258 1,892,418 0.045%


Federal Home Loan Mortgage 3.5 12/1/43 920,661 1,015,826 0.024%




























Page 6 of 22




Federal National Mortgage Assn. 4.5 10/1/20 59 63 0.000%

Federal National Mortgage Assn. 4.5 10/1/26 87,130 92,836 0.002%

Federal National Mortgage Assn. 7 10/1/29 453 470 0.000%



Federal National Mortgage Assn. 5 10/1/34 235,400 268,947 0.006%



Federal National Mortgage Assn. 3 10/1/37 1,590,349 1,675,607 0.039%










Federal National Mortgage Assn. 3 10/1/49 955,115 1,006,319 0.024%

Federal National Mortgage Assn. 3.5 10/1/49 1,612,289 1,694,759 0.040%




































Federal National Mortgage Assn. 2.5 1/1/32 988,235 1,036,484 0.024%














Page 7 of 22














Federal National Mortgage Assn. 7 12/1/27 947 1,079 0.000%



























































Page 8 of 22









































































Page 9 of 22







































Federal Realty Investment Trust 2.75 6/1/23 1,500,000 1,527,584 0.036%

FedEx 6,159 863,615 0.020%

Ferrari 8,845 1,512,583 0.036%

Fidelity National Financial 4.5 8/15/28 2,065,000 2,298,108 0.054%

Fidelity National Information Services 4.25 5/15/28 2,590,000 3,061,722 0.072%

Fidelity National Information Services 109,499 14,682,721 0.345%

Fifth Third Bancorp 3.5 3/15/22 340,000 355,689 0.008%

Fifth Third Bancorp 235,223 4,535,099 0.107%

Fifth Third Bank NA 3.35 7/26/21 2,665,000 2,725,040 0.064%

First American Financial 4.6 11/15/24 415,000 447,399 0.011%

FirstEnergy Transmission 4.35 1/15/25 1,310,000 1,460,529 0.034%

First Republic Bank 12,066 1,278,875 0.030%

Fiserv 3.2 7/1/26 1,100,000 1,217,002 0.029%

Fiserv 127,317 12,428,686 0.292%

FleetCor Technologies 16,502 4,150,748 0.098%

Flowserve 25,258 720,358 0.017%

FMR 4.95 2/1/33 740,000 983,807 0.023%

Fontainebleau Miami Beach Trust 2019-FBLU 3.75 12/10/36 2,635,000 2,482,563 0.058%

Ford Motor Credit 5.75 2/1/21 600,000 602,491 0.014%

Fortive 37,086 2,509,239 0.059%

Freddie Mac Multifamily Structured PTCs 1.75 2/25/22 1,259,900 1,271,243 0.030%



Freddie Mac Multifamily Structured PTCs 2.78 4/25/23 352,487 363,960 0.009%


Freddie Mac Multifamily Structured PTCs 1.79 9/25/22 666,581 674,392 0.016%

Freddie Mac REMICS 4.5 5/25/50 1,325,584 207,379 0.005%

Freddie Mac Stacr Remic Trust 2019-Hqa4 0.95 11/25/49 97,753 97,302 0.002%

Freddie Mac Structured Agency Credit Risk debt Notes 3.03 4/25/28 131,434 131,625 0.003%



Fresenius 146,555 7,284,172 0.171%

Fresnillo 5.5 11/13/23 805,000 872,334 0.021%

Galton Funding Mortgage Trust 2017-1 3.5 11/25/57 625,174 643,123 0.015%

Page 10 of 22

Galton Funding Mortgage Trust 2019-1 4 2/25/59 548,915 556,031 0.013%

Galton Funding Mortgage Trust 2019-H1 2.66 10/25/59 1,418,492 1,449,703 0.034%

Galton Funding Mortgage Trust 2019-H1 2.96 10/25/59 1,278,935 1,306,910 0.031%

GATX 4.35 2/15/24 2,105,000 2,279,749 0.054%

GATX 4.85 6/1/21 1,000,000 1,035,037 0.024%

GE 2,652,415 18,115,994 0.426%

Ge Capital International Funding Co Unlimited 2.34 11/15/20 877,000 882,678 0.021%

Ge Capital International Funding Co Unlimited 4.42 11/15/35 2,200,000 2,216,601 0.052%

General Motors 4 4/1/25 1,120,000 1,160,423 0.027%

General Motors Financial 3.45 1/14/22 1,400,000 1,424,074 0.033%

General Motors Financial 4.2 11/6/21 1,335,000 1,366,445 0.032%

George Washington University 4.3 9/15/44 975,000 1,129,358 0.027%

Gilead Sciences 3.25 9/1/22 875,000 921,865 0.022%

Gilead Sciences 9,677 744,548 0.018%

GlaxoSmithKline, ADR 203,950 8,319,121 0.196%

Global Payments 89,547 15,188,962 0.357%

GM Financial Consumer Automobile Receivables Trust 2018-2 2.81 12/16/22 1,499,546 1,527,715 0.036%

Goldman Sachs 6.75 10/1/37 700,000 1,014,297 0.024%

Goldman Sachs 5.75 1/24/22 380,000 409,941 0.010%

Goldman Sachs 3 4/26/22 3,935,000 3,989,523 0.094%

Goldman Sachs 2.75 9/15/20 1,300,000 1,303,203 0.031%

Goldman Sachs 25,099 4,960,064 0.117%

Government National Mortgage Assn. 8 10/15/23 408 432 0.000%

Government National Mortgage Assn. 5 10/15/34 535,561 611,882 0.014%



Government National Mortgage Assn. 3.5 10/20/44 74,816 80,581 0.002%



Government National Mortgage Assn. 3 10/20/46 2,272,689 2,417,358 0.057%






Government National Mortgage Assn. 7.5 11/15/25 66 72 0.000%



Government National Mortgage Assn. 4.5 11/20/40 1,114,414 1,223,255 0.029%
























Government National Mortgage Assn. 4 2/15/41 929,022 1,020,043 0.024%










Page 11 of 22









































































Page 12 of 22














Government National Mortgage Association 3 11/20/47 456,912 481,266 0.011%

Government National Mortgage Association 3 12/20/47 588,877 610,201 0.014%

Government National Mortgage Association 0.49 9/20/48 699,100 696,856 0.016%

GreatAmerica Leasing Receivables Funding LLC Series 2018-1 2.6 6/15/21 184,409 185,164 0.004%

Great Portland Estates 397,406 3,113,400 0.073%

Great Wolf Trust 2019-WOLF 1.82 12/15/36 1,130,000 1,045,146 0.025%

GS Mortgage-Backed Securities Trust 2020-INV1 3 8/25/50 965,000 995,006 0.023%

GS Mortgage Securities Trust 2015-GC32 3.76 7/10/48 950,000 1,046,314 0.025%

GS Mortgage Securities Trust 2018-GS9 3.99 3/10/51 1,250,000 1,426,776 0.034%

GS Mortgage Securities Trust 2019-GSA1 3.51 11/10/52 1,736,000 1,743,428 0.041%

Halliburton 303,376 3,937,820 0.093%

Hamamatsu Photonics KK 89,500 3,897,254 0.092%

Hardee s Funding 4.25 6/20/48 790,913 803,796 0.019%

Hardee s Funding 4.96 6/20/48 1,950,263 1,930,643 0.045%

Hartford Financial Services 89,731 3,459,130 0.081%

Hasbro 3 11/19/24 1,550,000 1,625,122 0.038%

HCA 4.13 6/15/29 1,895,000 2,093,975 0.049%

HCA Healthcare 70,983 6,889,610 0.162%

Healthcare Realty Trust 3.63 1/15/28 1,075,000 1,130,798 0.027%

Healthcare Realty Trust 3.75 4/15/23 1,010,000 1,051,433 0.025%

Healthpeak Properties 2.88 1/15/31 360,000 369,359 0.009%

Heathrow Funding 4.88 7/15/21 935,000 955,570 0.022%

Hess 30,744 1,592,847 0.037%

High Street Funding Trust I 4.11 2/15/28 1,800,000 2,004,129 0.047%

Hilton Worldwide Holdings 82,151 6,033,991 0.142%

Hologic 20,468 1,166,676 0.027%

Home Depot 28,969 7,257,024 0.171%

Homeward Opportunities Fund I Trust 2018-1 3.77 6/25/48 724,744 738,619 0.017%

Homeward Opportunities Fund I Trust 2019-1 3.45 1/25/59 1,691,923 1,721,096 0.040%



Honda Motor 88,200 2,257,362 0.053%

Honeywell International 78,248 11,313,878 0.266%

HSBC Bank USA NA/New York NY 5.88 11/1/34 950,000 1,247,983 0.029%

HSBC Holdings 3.26 3/13/23 1,800,000 1,862,489 0.044%

HSBC Holdings 2.85 6/4/31 640,000 657,006 0.015%

Humana 8,648 3,353,262 0.079%

Hyatt Hotels 3.38 7/15/23 275,000 276,376 0.006%

Hydro-Quebec 8.4 1/15/22 200,000 223,429 0.005%

Hyundai Auto Receivables Trust 2018 2.79 7/15/22 721,225 729,259 0.017%

Hyundai Capital America 3.45 3/12/21 3,145,000 3,178,117 0.075%

IAC/interactivecorp 14,579 4,714,849 0.111%

Iberdrola International BV 6.75 9/15/33 1,000,000 1,371,261 0.032%

IGO 1,076,388 3,672,696 0.086%

IHS Markit 2,407 181,729 0.004%

Illinois State Toll Highway Authority 6.18 1/1/34 470,000 673,599 0.016%

Illinois Tool Works 3.9 9/1/42 1,200,000 1,472,164 0.035%

Illinois Tool Works 3,672 642,049 0.015%

Incyte 39,907 4,149,131 0.098%

Indonesia Government International Bond 4.88 5/5/21 1,000,000 1,032,500 0.024%

Ingersoll-Rand 34,282 964,010 0.023%

Ing Groep 3.15 3/29/22 560,000 581,655 0.014%

ING Groep 867,846 6,049,646 0.142%

Inland Valley development Agency 5.5 3/1/33 695,000 776,885 0.018%

Intel 111,770 6,687,199 0.157%

Intercontinental Exchange 3.45 9/21/23 1,440,000 1,554,808 0.037%

Intercontinental Exchange 85,978 7,875,585 0.185%

International Paper 4.4 8/15/47 1,180,000 1,377,547 0.032%

International Paper 121,378 4,273,719 0.101%

Page 13 of 22

Interpublic Group of 4 3/15/22 450,000 467,933 0.011%

Interpublic Group of 4.2 4/15/24 585,000 638,658 0.015%

Intesa Sanpaolo 3.38 1/12/23 660,000 676,389 0.016%

Intesa Sanpaolo 3.13 7/14/22 1,875,000 1,905,281 0.045%

Intesa Sanpaolo 1,402,260 2,694,697 0.063%

Intuit 50,117 14,844,154 0.349%

Intuitive Surgical 22,671 12,918,616 0.304%

Invesco Finance 3.13 11/30/22 480,000 506,291 0.012%

Ipsen 34,410 2,919,041 0.069%

Jacobs Engineering Group 49,100 4,163,680 0.098%

JBG SMITH Properties, REIT 7,012 207,345 0.005%

J.B. Hunt Transport Services 13,739 1,653,351 0.039%

Jimmy Johns Funding 3.61 7/30/47 505,700 496,006 0.012%

JobsOhio Beverage System 3.99 1/1/29 1,225,000 1,376,667 0.032%

John deere Capital 2.35 1/8/21 1,255,000 1,267,504 0.030%

Johnson Controls International 51,266 1,750,221 0.041%

Johnson & Johnson 46,727 6,571,218 0.155%

Johnson Matthey 163,794 4,265,824 0.100%

JOYY, ADR 48,688 4,311,322 0.101%

JPMBB Commercial Mortgage Securities Trust 2015-C31 3.8 8/15/48 2,425,000 2,674,585 0.063%

JPMorgan Chase 4.5 1/24/22 2,000,000 2,123,830 0.050%

JPMorgan Chase 2.52 4/22/31 1,620,000 1,703,997 0.040%

JPMorgan Chase 3.56 4/23/24 1,875,000 2,003,627 0.047%

JPMorgan Chase 3.38 5/1/23 1,080,000 1,155,370 0.027%

JPMorgan Chase 2.96 5/13/31 1,070,000 1,136,075 0.027%

JPMorgan Chase 81,092 7,627,514 0.179%

JP Morgan Mortgage Trust 2019-INV3 3.5 5/25/50 3,065,029 3,126,927 0.074%

JP Morgan Mortgage Trust 2019-INV3 3.5 5/25/50 2,645,695 2,699,934 0.063%

Kaiser Foundation Hospitals 3.5 4/1/22 625,000 655,259 0.015%

Kansas City Southern 2.88 11/15/29 2,115,000 2,232,317 0.052%

Kansas City Southern 9,762 1,457,369 0.034%

Kering 8,046 4,398,882 0.103%

Keurig Dr Pepper 3.55 5/25/21 1,710,000 1,757,738 0.041%

Keurig Dr Pepper 52,941 1,503,524 0.035%

KeyBank NA/Cleveland OH 3.35 6/15/21 2,675,000 2,748,472 0.065%

Keysight Technologies 57,874 5,832,542 0.137%

Kilroy Realty 4.38 10/1/25 480,000 513,888 0.012%

Kilroy Realty 3.45 12/15/24 1,350,000 1,396,341 0.033%

Kimberly-Clark 12,204 1,725,035 0.041%

Kingfisher 1,695,963 4,665,897 0.110%

Kion 76,189 4,690,925 0.110%

Kirin Holdings 156,100 3,290,551 0.077%

KKR 20,988 648,109 0.015%

KLA 1,682 327,115 0.008%

Knorr-Bremse 35,092 3,561,321 0.084%

Koninklijke Philips 325,177 15,191,527 0.357%

KT 82,122 1,617,832 0.038%

L3Harris Technologies 3.83 4/27/25 570,000 638,756 0.015%

L3Harris Technologies 13,255 2,248,976 0.053%

Lam Research 18,103 5,855,596 0.138%

Largan Precision 26,000 3,615,040 0.085%

Legrand 52,001 3,951,146 0.093%

Liberty Broadband 18,384 2,278,881 0.054%

Liberty Mutual 4.25 6/15/23 410,000 445,101 0.010%

Liberty Mutual 4.85 8/1/44 1,700,000 1,998,418 0.047%

Linde 108,103 22,929,727 0.539%

Lloyds Banking 1.33 6/15/23 420,000 420,853 0.010%

Lloyds Banking Group 9,315,627 3,593,589 0.085%

LM Ericsson 841,960 7,804,596 0.184%

L'Oreal 28,180 9,094,959 0.214%

Lowe's 15,774 2,131,383 0.050%

lululemon athletica 14,421 4,499,496 0.106%

Macquarie Group 72,358 6,005,126 0.141%

Magna International 212,499 9,462,580 0.223%

Magnetite XXIII 2.29 10/25/32 2,020,000 1,974,304 0.046%

Manufacturers & Traders Trust 1.4 12/28/20 834,000 834,021 0.020%

Manufacturers & Traders Trust 3.4 8/17/27 250,000 277,507 0.007%

Marathon Petroleum 25,903 968,254 0.023%

Marriott 75,314 6,456,669 0.152%

Marsh & McLennan 3.5 6/3/24 3,060,000 3,342,967 0.079%

Marsh & McLennan 103,289 11,090,140 0.261%

Marvell Technology Group 127,815 4,481,194 0.105%

Page 14 of 22

Maryland HHEFA 4.67 7/1/36 1,800,000 2,128,536 0.050%

MassMutual Global Funding II 1.95 9/22/20 1,496,000 1,501,359 0.035%

MasterCard 82,768 24,474,498 0.576%

Match 640 68,512 0.002%

Maxim Integrated Products 13,006 788,294 0.019%

Mayo Clinic 4 11/15/47 1,500,000 1,809,539 0.043%

McDonald s 1.45 9/1/25 940,000 961,271 0.023%

McDonald's 57,925 10,685,425 0.251%

McKesson 2,440 374,345 0.009%

MedStar Health 3.63 8/15/49 905,000 975,328 0.023%

Medtronic 33,067 3,032,244 0.071%

Meggitt 1,040,852 3,791,143 0.089%

Melrose Industries 2,435,258 3,432,590 0.081%

Merck 53,649 4,148,677 0.098%

MetLife 211,605 7,727,815 0.182%

Metropolitan Life Global Funding I 3.45 10/9/21 2,605,000 2,696,133 0.063%

Metropolitan Transportation Authority 7.34 11/15/39 240,000 388,118 0.009%

Metropolitan Transportation Authority 5.87 11/15/39 700,000 826,105 0.019%

Metropolitan Water Reclamation District of Greater Chicago 5.72 12/1/38 500,000 722,475 0.017%

MGM Resorts International 20,322 341,410 0.008%

Microchip Technology 3.92 6/1/21 650,000 662,793 0.016%

Micron Technology 4.19 2/15/27 2,940,000 3,292,800 0.077%

Micron Technology 235,198 12,117,401 0.285%

Microsoft 534,849 108,847,120 2.560%

Mid-Atlantic Interstate Transmission 4.1 5/15/28 2,640,000 3,001,044 0.071%

Mill City Mortgage Loan Trust 2016-1 2.5 4/25/57 93,419 94,499 0.002%

Mill City Mortgage Loan Trust 2018-1 3.25 5/25/62 1,297,179 1,350,362 0.032%

Mississippi Power 3.95 3/30/28 1,435,000 1,620,764 0.038%

Mitsubishi Corporation 153,800 3,250,059 0.076%

Mitsubishi Electric 616,000 8,045,742 0.189%

Mitsubishi Ufj Financial 2.19 2/25/25 2,200,000 2,270,116 0.053%

Mitsubishi Ufj Financial 3.54 7/26/21 3,420,000 3,522,576 0.083%

Mitsubishi UFJ Financial 816,100 3,211,782 0.076%

Mitsubishi UFJ Lease & Finance 438,600 2,092,933 0.049%

Mitsui Fudosan 318,300 5,654,513 0.133%

Mmaf Equipment Finance Llc 2017 2.21 10/17/22 733,587 739,378 0.017%

Mohawk Industries 3.63 5/15/30 2,465,000 2,686,872 0.063%

Moncler 137,796 5,298,720 0.125%

Mondelez International 61,747 3,157,124 0.074%

Monster Beverage 31,786 2,203,406 0.052%

Morgan Stanley 4.3 1/27/45 1,150,000 1,443,278 0.034%

Morgan Stanley 3.97 7/22/38 1,445,000 1,722,178 0.041%

Morgan Stanley 6.25 8/9/26 755,000 963,807 0.023%

Morgan Stanley 514,518 24,851,219 0.584%

Morgan Stanley Bank of America Merrill Lynch Trust 2014-C17 4.46 8/15/47 1,670,000 1,723,025 0.041%



Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30 2.86 9/15/49 495,000 527,940 0.012%

Morgan Stanley Capital I Trust 2015-MS1 3.78 5/15/48 1,440,000 1,587,954 0.037%

Morgan Stanley Capital I Trust 2019-MEAD 3.18 11/10/36 2,090,000 1,824,072 0.043%

Morocco Government International Bond 4.25 12/11/22 1,400,000 1,477,972 0.035%

Motorola Solutions 36,797 5,156,364 0.121%

Mplx 1.41 9/9/22 2,250,000 2,213,438 0.052%

MSCI 2,636 879,950 0.021%

M&T Bank 3.55 7/26/23 2,740,000 2,999,996 0.071%

Munich Re 44,746 11,651,581 0.274%

Murata Manufacturing 90,800 5,352,524 0.126%

MVW Owner Trust 2013-1 2.15 4/22/30 42,412 42,438 0.001%

National Bank of Canada 144,642 6,554,490 0.154%

National Grid 457,541 5,582,163 0.131%

National Rural Utilities Cooperative Finance 2.9 3/15/21 3,220,000 3,272,225 0.077%

NatWest Markets 2.38 5/21/23 3,370,000 3,449,515 0.081%

NAVER 17,027 3,830,790 0.090%

Navient Private Education Refi Loan Trust 2019 3.13 2/15/68 1,980,000 2,042,761 0.048%

Navient Private Education Refi Loan Trust 2019-F 2.6 8/15/68 2,030,000 2,085,770 0.049%

Navient Private Education Refi Loan Trust 2019-G 2.4 10/15/68 3,587,824 3,658,037 0.086%

Nestle 265,718 29,460,321 0.693%

Netflix 48,419 22,032,582 0.518%

New Jersey Turnpike Authority 7.41 1/1/40 415,000 703,288 0.017%

Newmont 3.63 6/9/21 1,260,000 1,286,129 0.030%

New Orleans Hotel Trust 2019-HNLA 1.77 4/15/32 845,000 751,879 0.018%

New Residential Mortgage Loan Trust 2019-NQM5 2.71 11/25/59 2,121,288 2,153,866 0.051%

Page 15 of 22

New York City Transitional Finance Authority Future Tax Secured Revenue 5.51 8/1/37 950,000 1,329,478 0.031%

New York City Water & Sewer System 6.01 6/15/42 245,000 378,912 0.009%

New York Life Global Funding 1.1 5/5/23 600,000 607,151 0.014%

New York Life Global Funding 3.25 8/6/21 2,095,000 2,160,433 0.051%

New York State dormitory Authority 5.63 3/15/39 1,300,000 1,686,412 0.040%

Next 51,708 3,130,648 0.074%

NextEra Energy 109,641 26,332,479 0.619%

Nike 44,691 4,381,953 0.103%

Nippon Telegraph & Telephone 651,400 15,177,263 0.357%

NiSource 3.95 3/30/48 1,775,000 2,049,355 0.048%

NiSource 3.49 5/15/27 1,730,000 1,947,807 0.046%

NiSource 176,459 4,012,678 0.094%

Nordea Bank Abp 1 6/9/23 820,000 825,803 0.019%

Norfolk Southern 3 4/1/22 1,085,000 1,127,548 0.027%

Norfolk Southern 31,084 5,457,418 0.128%

Northrop Grumman 4,542 1,396,392 0.033%

NortonLifeLock 128,975 2,557,574 0.060%

Novartis 202,311 17,625,550 0.415%

Novartis, ADR 3,689 322,197 0.008%

Novo Nordisk 45,897 2,990,085 0.070%

Nstar Electric 2.38 10/15/22 565,000 584,694 0.014%

NTT Data 439,700 4,916,015 0.116%

Nucor 3.95 5/1/28 2,140,000 2,448,226 0.058%

Nucor 2.7 6/1/30 455,000 477,138 0.011%

Nutrien 4 12/15/26 830,000 938,213 0.022%

NVIDIA 55,192 20,967,993 0.493%

NXP Semiconductors 150,831 17,200,767 0.405%

OBX 2019-EXP3 Trust 3.5 10/25/59 888,232 905,732 0.021%

OBX 2019-EXP3 Trust 1.28 10/25/59 543,822 547,184 0.013%

Occidental Petroleum 3 2/15/27 2,320,000 1,798,000 0.042%

Occidental Petroleum 2.6 8/13/21 125,000 122,188 0.003%

Occidental Petroleum 2.9 8/15/24 2,680,000 2,291,400 0.054%

Octagon Investment Partners XXIII 2.07 7/15/27 1,320,000 1,291,894 0.030%

Omnicom Group Inc / Omnicom Capital 3.6 4/15/26 830,000 927,226 0.022%

Omron 52,400 3,509,660 0.083%

Oracle 19,728 1,090,367 0.026%

O Reilly Automotive 4.88 1/14/21 1,000,000 1,011,286 0.024%

O Reilly Automotive 3.8 9/1/22 370,000 386,757 0.009%

O Reilly Automotive 3.6 9/1/27 1,825,000 2,053,235 0.048%

O'Reilly Automotive 10,632 4,483,195 0.105%

Otis Worldwide 42,657 2,425,477 0.057%

Otsuka Holdings 135,700 5,914,071 0.139%

OZLM VIII 2.3 10/17/29 1,935,460 1,887,086 0.044%

OZLM VIII 2.93 10/17/29 1,295,000 1,224,694 0.029%

PACCAR 33,479 2,505,903 0.059%

PACCAR Financial 3.1 5/10/21 2,190,000 2,239,879 0.053%

Pacific Gas & Electric 2.1 8/1/27 1,340,000 1,323,062 0.031%

PacifiCorp 3.85 6/15/21 900,000 921,332 0.022%

Packaging Corp of America 4.5 11/1/23 395,000 436,195 0.010%

Packaging Corp of America 3.65 9/15/24 785,000 857,226 0.020%

Packaging Corporation of America 85,637 8,546,573 0.201%

Panasonic 416,500 3,652,309 0.086%

Parker-Hannifin 6,013 1,102,003 0.026%

Paycom Software 4,287 1,327,813 0.031%

PayPal Holdings 2.4 10/1/24 2,720,000 2,882,999 0.068%

PayPal Holdings 101,235 17,638,174 0.415%

PepsiCo 38,053 5,032,890 0.118%

Perrigo Finance Unlimited 3.15 6/15/30 1,510,000 1,527,052 0.036%

Persimmon 127,772 3,616,134 0.085%

Pertamina Persero PT 4.3 5/20/23 1,250,000 1,323,472 0.031%

Perusahaan Gas Negara 5.13 5/16/24 1,105,000 1,160,206 0.027%

Pfizer 117,025 3,826,718 0.090%

Philadelphia Authority for Industrial development 3.96 4/15/26 805,000 871,638 0.020%

Philip Morris International 100,165 7,017,560 0.165%

PICC Property & Casualty 5,146,000 4,276,666 0.101%

Ping An Insurance 357,000 3,558,930 0.084%

Pioneer Natural Resources 9,805 957,949 0.023%

Planet Fitness Master Issuer 4.26 9/5/48 3,070,313 3,083,699 0.073%

PNC Bank NA 3.5 6/8/23 1,330,000 1,439,334 0.034%

PNC Financial Services 3.3 3/8/22 1,100,000 1,148,023 0.027%

PNC Financial Services Group 33,051 3,477,296 0.082%

Pola Orbis Holdings 61,500 1,073,701 0.025%

Page 16 of 22

Port Authority of New York & New Jersey 5.31 8/1/46 1,400,000 1,550,584 0.036%

PPG Industries 50,776 5,385,303 0.127%

PPL Capital Funding 3.1 5/15/26 2,200,000 2,378,068 0.056%

Pricoa Global Funding I 3.45 9/1/23 2,650,000 2,874,566 0.068%

Principal Financial 3.4 5/15/25 2,460,000 2,702,871 0.064%

Principal Financial Group 15,290 635,147 0.015%

Procter & Gamble 58,265 6,966,746 0.164%

Progress Energy 4.4 1/15/21 450,000 455,034 0.011%

Progressive 19,183 1,536,750 0.036%

Prologis, REIT 276,259 25,783,252 0.606%

Protective Life Global Funding 1.08 6/9/23 780,000 783,069 0.018%

Providence Health & Services Obligated 4.38 10/1/23 1,310,000 1,460,520 0.034%

Province of Quebec Canada 3.5 7/29/20 750,000 751,874 0.018%

Prudential Financial 9,400 572,460 0.013%

Prysmian 190,162 4,411,420 0.104%

Public Service Co of Colorado 3.2 11/15/20 325,000 325,160 0.008%

Qualcomm 221,133 20,169,541 0.474%

QUALCOMM 3.25 5/20/27 1,120,000 1,267,330 0.030%

QUALCOMM 2.15 5/20/30 2,605,000 2,709,333 0.064%

QVC 4.45 2/15/25 140,000 137,200 0.003%

QVC 4.38 3/15/23 770,000 766,150 0.018%

QVC 4.85 4/1/24 1,645,000 1,661,450 0.039%

Raymond James Financial 3.63 9/15/26 210,000 232,698 0.005%

Raymond James Financial 9,495 653,541 0.015%

Raytheon Technologies 4,144 255,353 0.006%

Recruit Holdings 160,000 5,502,432 0.129%

Regeneron Pharmaceuticals 2,919 1,820,434 0.043%

Reinsurance Group of America 5 6/1/21 630,000 655,587 0.015%

REI - SECURITY LENDING COLLATERAL 3,578,533 35,785,325 0.842%

RELX Capital 3.5 3/16/23 840,000 894,332 0.021%

RELX Capital 3 5/22/30 945,000 1,017,546 0.024%

Renesas Electronics 245,300 1,260,941 0.030%

Republic of Poland Government International Bond 3.25 4/6/26 1,030,000 1,157,627 0.027%

Republic Services 3.38 11/15/27 1,045,000 1,173,409 0.028%

Restaurant Brands International 1,325 72,385 0.002%

Rio Tinto 33,526 2,295,639 0.054%

Roche Holding 56,950 19,730,301 0.464%

Rockwell Automation 21,300 4,536,900 0.107%

Rogers Communications 3.63 12/15/25 610,000 688,271 0.016%

Roper Technologies 3 12/15/20 1,160,000 1,170,245 0.028%

Roper Technologies 3.8 12/15/26 1,085,000 1,239,273 0.029%

Roper Technologies 2.95 9/15/29 380,000 414,451 0.010%

Roper Technologies 27,033 10,495,833 0.247%

Ross Stores 91,773 7,822,731 0.184%

Royal Bank of Canada 1.6 4/17/23 2,075,000 2,126,875 0.050%

Royal Dutch Shell, ADR 96,582 2,940,922 0.069%

RPM 7,289 547,112 0.013%

Sabine Pass Liquefaction 4.2 3/15/28 1,335,000 1,431,788 0.034%

Sabine Pass Liquefaction 4.5 5/15/30 560,000 618,100 0.015%

Safran 42,343 4,259,317 0.100%

Salesforce.com 115,802 21,693,189 0.510%

Sampo 172,398 5,942,496 0.140%

Samsonite International 1,380,900 1,408,574 0.033%

Samsung Electronics 243,858 10,795,016 0.254%

San Diego Gas & Electric 4.1 6/15/49 2,570,000 3,135,076 0.074%

Sanofi 101,862 10,388,314 0.244%

Sanofi, ADR 19,796 1,010,586 0.024%

Santander Drive Auto Receivables Trust 2018-2 3.03 9/15/22 99,693 99,808 0.002%

Santander Retail Auto Lease Trust 2019 2.77 6/20/22 1,365,000 1,391,932 0.033%

Santander UK 3.75 11/15/21 1,360,000 1,414,392 0.033%

SAP 75,108 10,499,260 0.247%

SBA Communications, REIT 842 250,849 0.006%

SBA Tower Trust 2.84 1/15/25 1,135,000 1,169,100 0.027%

Scentre 1,038,526 1,576,626 0.037%

Schlumberger 21,185 389,592 0.009%

Sea, ADR 35,400 3,796,296 0.089%

Sealed Air 10,771 353,827 0.008%

Seasoned Credit Risk Transfer Trust Series 2016-1 3 9/25/55 530,000 523,592 0.012%

Seattle Genetics 3,965 673,733 0.016%

Sempra Energy 7,000 685,616 0.016%

Sempra Energy 877 85,225 0.002%

Sempra Energy 144,908 16,987,565 0.400%

Page 17 of 22

Sequoia Mortgage Trust 2018-CH1 3.5 2/25/48 678,662 684,807 0.016%

Sequoia Mortgage Trust 2018-CH2 4 6/25/48 1,572,003 1,608,016 0.038%

ServiceNow 38,873 15,745,897 0.370%

Seven & i Holdings 187,000 6,117,429 0.144%

SG Residential Mortgage Trust 2019-3 2.7 9/25/59 1,017,818 1,026,257 0.024%

Sherwin-Williams 3,103 1,793,069 0.042%

Shire Acquisitions Investments Ireland DAC 2.88 9/23/23 2,870,000 3,040,246 0.071%

Siemens 141,714 16,713,274 0.393%

Siemens Healthineers 119,862 5,761,515 0.135%

Sierra Timeshare 2015-3 Receivables Funding 2.58 9/20/32 78,980 78,802 0.002%

Simon Property Group, REIT 11,239 768,523 0.018%

SL Green Realty, REIT 12,086 595,719 0.014%

SMBC Aviation Capital Finance DAC 4.13 7/15/23 422,000 438,282 0.010%

Smb Private Education Loan Trust 2018 3.6 1/15/37 1,118,544 1,162,468 0.027%

SMC 4,200 2,158,468 0.051%

Snap Inc. 76,623 1,799,874 0.042%

Snap-On 3,869 535,895 0.013%

SOFTBANK GROUP CORP 71,700 3,615,664 0.085%

Sonic Capital 4.03 2/20/48 250,963 265,390 0.006%

Sony 69,500 4,797,597 0.113%

South32 1,509,459 2,136,972 0.050%

South Carolina Public Service Authority 5.78 12/1/41 2,000,000 2,666,060 0.063%

Southeast Supply Header 4.25 6/15/24 905,000 901,378 0.021%

Southern 39,519 1,726,511 0.041%

Southern Company 205,635 10,662,175 0.251%

Spectra Energy Partners 3.38 10/15/26 480,000 516,563 0.012%

Spectra Energy Partners 4.75 3/15/24 1,145,000 1,276,472 0.030%

S&P Global 14,651 4,827,211 0.114%

Splunk 30,540 6,068,298 0.143%

Spotify Technology 13,364 3,450,451 0.081%

Standard Chartered 289,824 1,571,071 0.037%

Stanley Black & decker 571 650,867 0.015%

Stanley Black & Decker 21,435 2,987,610 0.070%

Stanley Electric 125,800 3,045,317 0.072%

Starbucks 21,466 1,579,683 0.037%

Starwood Mortgage Residential Trust 2019-IMC1 3.47 2/25/49 867,501 889,557 0.021%

Starwood Mortgage Residential Trust 2019-INV1 2.61 9/27/49 280,071 280,961 0.007%

Starwood Mortgage Residential Trust 2019-INV1 2.92 9/27/49 677,592 673,597 0.016%

State Grid Overseas Investment 2016 3.75 5/2/23 1,175,000 1,253,169 0.029%

State of California 7.63 3/1/40 2,200,000 3,883,418 0.091%

State Street 3.1 5/15/23 265,000 284,887 0.007%

State Street 12,514 795,265 0.019%

Stora Enso 464,770 5,562,963 0.131%

Storebrand 732,197 3,815,654 0.090%

Stroeer SE & Co KGaA 42,812 2,889,026 0.068%

Stryker 90,187 16,250,796 0.382%

Sumitomo Corporation 368,000 4,232,528 0.100%

Sumitomo Mitsui Financial 3.75 7/19/23 2,045,000 2,214,663 0.052%

Sumitomo Mitsui Trust Holdings 98,354 2,771,652 0.065%

Sumitomo Rubber Industries 140,500 1,391,583 0.033%

Sun Communities, REIT 32,209 4,370,117 0.103%

Suncor Energy 3.1 5/15/25 665,000 710,322 0.017%

Sun Life Financial 187,529 6,891,442 0.162%

Suzuki Motor 108,500 3,704,853 0.087%

SVB Financial Group 5,219 1,124,851 0.026%

Svenska Handelsbanken 3.35 5/24/21 1,825,000 1,861,453 0.044%

Svenska Handelsbanken 550,023 5,222,646 0.123%

Synchrony Credit Card Master Note Trust 2.62 10/15/25 920,000 954,348 0.022%

Synopsys 61,692 12,029,940 0.283%

Taiwan Semiconductor Manufacturing 1,105,969 11,811,218 0.278%

Takeda Pharmaceutical, ADR 142,817 2,560,709 0.060%

Tampa Electric 6.15 5/15/37 1,000,000 1,320,985 0.031%

Tapestry 26,167 347,498 0.008%

Targa Resources 18,746 376,232 0.009%

Target 4,900 587,657 0.014%

Tarrant County Cultural Education Facilities Finance 4.37 11/15/47 1,200,000 1,445,796 0.034%

TC Energy 155,087 6,647,029 0.156%

TD Ameritrade Holding 41,299 1,502,458 0.035%

Teachers Insurance & Annuity Association of America 4.9 9/15/44 1,800,000 2,296,107 0.054%

TechnoPro Holdings 58,300 3,365,635 0.079%

Telecom Italia 5,185,273 2,018,107 0.047%

Teleflex 189 68,792 0.002%

Page 18 of 22

Teleperformance 14,032 3,573,680 0.084%

Tencent Holdings 2.99 1/19/23 960,000 997,649 0.023%

Tencent Holdings 344,600 22,081,249 0.519%

Teva Pharmaceutical Finance IV BV 3.65 11/10/21 730,000 730,913 0.017%

Texas Instruments 1.38 3/12/25 650,000 667,300 0.016%

Texas Instruments 52,943 6,722,173 0.158%

Texas Private Activity Bond Surface Transportation 3.92 12/31/49 1,900,000 1,955,898 0.046%

Textron 41,175 1,355,069 0.032%

Thermo Fisher Scientific 67,219 24,356,132 0.573%

THK 151,900 3,781,946 0.089%

Thomson Reuters 3.35 5/15/26 405,000 439,497 0.010%

Time Warner Cable 6.55 5/1/37 450,000 591,522 0.014%

Time Warner Cable 6.75 6/15/39 530,000 703,806 0.017%

Time Warner Cable 4 9/1/21 200,000 205,336 0.005%

TJX 71,791 3,629,753 0.085%

T-Mobile US 11,867 1,235,948 0.029%

T-Mobile US 6,716 1,128 0.000%

Tokio Marine Holdings 164,700 7,209,418 0.170%

Tokyo Electron 18,600 4,589,434 0.108%

Toronto-Dominion Bank 3.25 6/11/21 1,595,000 1,638,295 0.039%

Toronto-Dominion Bank 3.5 7/19/23 1,235,000 1,347,265 0.032%

Toronto-Dominion Bank 3.63 9/15/31 305,000 340,838 0.008%

Tosoh 50,800 697,835 0.016%

Total 223,018 8,599,181 0.202%

Total, ADR 40,372 1,552,707 0.037%

Total Capital International 2.99 6/29/41 2,630,000 2,678,947 0.063%

Towd Point Mortgage Trust 2015-3 3 3/25/54 249,911 251,795 0.006%

Towd Point Mortgage Trust 2015-4 2.75 4/25/55 332,545 335,127 0.008%






Towd Point Mortgage Trust 2017-6 2.75 10/25/57 999,409 1,035,314 0.024%

Towd Point Mortgage Trust 2018-1 3 1/25/58 520,872 539,599 0.013%

Toyota Motor 3.18 7/20/21 1,505,000 1,545,509 0.036%

Toyota Motor 165,400 10,401,028 0.245%

Toyota Motor Credit 2.95 4/13/21 2,690,000 2,736,771 0.064%

Tradeweb Markets 15,392 894,891 0.021%

Transcontinental Gas Pipe Line 4.6 3/15/48 1,645,000 1,861,892 0.044%

TransUnion 5,074 441,641 0.010%

Transurban Finance Co Pty 4.13 2/2/26 335,000 366,637 0.009%

Transurban Finance Co Pty 3.38 3/22/27 395,000 416,061 0.010%

Travelers 6.25 6/15/37 750,000 1,099,105 0.026%

Trinity Health 4.13 12/1/45 725,000 848,047 0.020%

Trip.Com, ADR 2,903 75,246 0.002%

TRP Inflation Protected Bond - I 1,177 15,050 0.000%

TRP Institutional High Yield - Inst 23,685,951 194,698,519 4.579%

TRP Limited Duration Infl Foc Bd - I 7,081 36,041 0.001%

TRP Real Assets - I 5,963,422 62,019,592 1.459%

TRP Treasury Reserve 0.21 150,428,137 150,428,137 3.538%

Truist Bank 3.5 8/2/22 2,730,000 2,809,934 0.066%

Truist Financial 1.95 6/5/30 1,250,000 1,270,336 0.030%

Truist Financial 11,676 438,434 0.010%

Twilio 2,200 482,724 0.011%

Tyson Foods 150,238 8,970,711 0.211%

Ubs 3.49 5/23/23 1,040,000 1,086,800 0.026%

Ulta Beauty 2,144 436,132 0.010%

Umicore 95,374 4,502,022 0.106%

Unilever 340,687 18,376,961 0.432%

Union Pacific 48,560 8,210,039 0.193%

United Airlines 2014-2 Class B Pass Through Trust 4.63 9/3/22 1,164,658 1,019,488 0.024%

United Airlines 2019-1 Class AA Pass Through Trust 4.15 8/25/31 1,124,371 1,072,863 0.025%

United Airlines Holdings 21,746 752,629 0.018%

Unitedhealth 4.7 2/15/21 835,000 848,559 0.020%

Unitedhealth 3.75 7/15/25 645,000 733,713 0.017%

Unitedhealth 4.75 7/15/45 1,235,000 1,663,455 0.039%

UnitedHealth Group 76,637 22,604,083 0.532%

United Overseas Bank 315,200 4,605,661 0.108%

United Rentals 8,800 1,311,552 0.031%

University of California 4.6 5/15/31 1,625,000 1,972,458 0.046%

University of California 5.77 5/15/43 750,000 1,117,178 0.026%

Page 19 of 22

University of California 4.13 5/15/45 365,000 443,336 0.010%

Unum 5.63 9/15/20 200,000 201,670 0.005%

UPS 65,990 7,336,768 0.173%

U.S. Treasury Bonds 1.63 11/15/22 315,000 325,877 0.008%

U.S. Treasury Bonds 3.13 11/15/41 3,500,000 4,737,031 0.111%

U.S. Treasury Bonds 3 11/15/44 2,990,000 4,001,461 0.094%










U.S. Treasury Bonds 7.25 8/15/22 100,000 114,938 0.003%




U.S. Treasury Notes 1.13 2/28/22 14,665,000 14,898,723 0.350%



Utah Transit Authority 5.94 6/15/39 900,000 1,283,067 0.030%

Valero Energy 2.85 4/15/25 260,000 274,079 0.006%

Veeva Systems 7,872 1,845,354 0.043%

Vereit Operating Partnership 3.1 12/15/29 2,130,000 2,056,230 0.048%

Vereit Operating Partnership 3.95 8/15/27 1,490,000 1,508,390 0.035%

VeriSign 4,200 868,686 0.020%

Verizon Communications 4.27 1/15/36 870,000 1,076,153 0.025%

Verizon Communications 64,038 3,530,415 0.083%

Vertex Pharmaceuticals 48,180 13,987,136 0.329%

Verus Securitization Trust 2018-INV1 3.63 3/25/58 781,676 782,797 0.018%

Verus Securitization Trust 2019-4 2.64 11/25/59 2,886,603 2,933,694 0.069%

Verus Securitization Trust 2019-INV1 3.4 12/25/59 713,105 729,367 0.017%

Verus Securitization Trust 2019-INV3 2.69 11/25/59 3,018,220 3,054,391 0.072%

V. F. 14,817 902,948 0.021%

Virginia Commonwealth Transportation Board 5.35 5/15/35 690,000 878,425 0.021%

Virginia Public Building Authority 5.9 8/1/30 755,000 971,647 0.023%

Visa 2.15 9/15/22 2,420,000 2,507,331 0.059%

Visa 162,110 31,314,789 0.736%

Vistra Operations 3.55 7/15/24 1,370,000 1,404,250 0.033%

VMware 13,426 2,079,150 0.049%

Vodafone 4.88 6/19/49 2,045,000 2,559,119 0.060%

Vodafone 4.25 9/17/50 775,000 920,829 0.022%

Vodafone, ADR 341,587 5,444,897 0.128%

Volkswagen Group of America Finance 4 11/12/21 2,595,000 2,698,989 0.063%

Volkswagen Group of America Finance 3.35 5/13/25 1,395,000 1,497,234 0.035%

Voya Financial 12,507 583,452 0.014%

Vulcan Materials 4.5 6/15/47 590,000 652,894 0.015%

Wabtec 17,265 993,946 0.023%

Wal-Mart 23,736 2,843,098 0.067%

Walt Disney 3.7 10/15/25 525,000 591,666 0.014%

Walt Disney 4.5 2/15/21 475,000 487,287 0.011%

Walt Disney 71,696 7,994,821 0.188%

Waste Connections 16,178 1,517,335 0.036%

WEA Finance LLC / Westfield UK & Europe Finance 3.25 10/5/20 720,000 720,905 0.017%

Weibo 3.5 7/5/24 1,390,000 1,440,999 0.034%

Welcia Holdings 34,900 2,819,470 0.066%

Wells Fargo 2.57 2/11/31 1,735,000 1,815,572 0.043%

Wells Fargo 2.39 6/2/28 3,915,000 4,041,658 0.095%

Wells Fargo 212,686 5,444,762 0.128%

Wells Fargo Commercial Mortgage Trust 2019-C54 3.67 12/15/52 2,377,000 2,438,311 0.057%

Westlake Chemical 16,919 907,704 0.021%

Westrock 63,687 1,799,795 0.042%

Weyerhaeuser, REIT 129,533 2,909,311 0.068%

WFRBS Commercial Mortgage Trust 2014-C19 4.72 3/15/47 610,000 628,818 0.015%

Williams 5.1 9/15/45 1,735,000 1,893,319 0.045%

Williams Companies 326,768 6,215,127 0.146%

Willis North America 3.6 5/15/24 820,000 886,550 0.021%

Willis North America 4.5 9/15/28 1,370,000 1,591,633 0.037%

Willis Towers Watson 36,087 7,107,335 0.167%

Wilmar International 1,412,300 4,177,260 0.098%

Page 20 of 22

Wix.com 13,104 3,357,507 0.079%

Woodside Finance 3.7 3/15/28 1,187,000 1,216,675 0.029%

Woodside Finance 3.7 9/15/26 738,000 779,962 0.018%

Workday 39,017 7,310,225 0.172%

Worley 505,577 3,093,525 0.073%

WP Carey 3.85 7/15/29 2,755,000 2,865,963 0.067%

WPP 474,066 3,695,957 0.087%

WPP Finance 2010 3.75 9/19/24 1,310,000 1,410,546 0.033%

Wynn Resorts 12,195 908,406 0.021%

Xilinx 32,932 3,240,179 0.076%

XP 19,322 811,717 0.019%

Yum! Brands 98,887 8,594,269 0.202%

Zalando 82,454 5,849,303 0.138%

Z Holdings 766,900 3,763,734 0.089%

Zimmer Biomet Holdings 13,670 1,631,651 0.038%

Zoetis 37,842 5,185,868 0.122%

Zoom Video Communications 5,000 1,267,700 0.030%

Zurich Insurance Group 19,979 7,079,169 0.166%

Miscellaneous Securities ‡ 1,422,224

Total Investments in Securities 4,359,500,278

‡ At the discretion of the advisor, the identity of certain securities has been concealed to protect the fund's interests.

Swap Contracts Notional Amount Market Value % of Net Assets

CDX IG CDSI S34 5Y 06/20/2025 (24,000,000) 283,344 0.007%

283,344

Futures Contracts Contracts Expiration Contract Value Unrealized G/L % of Net Assets

FVU0 US 5YR NOTE CBT FUT SEP 20 789 9/30/2020 99,210,588 233,118 2.333%

TUU0 US 2YR NOTE CBT SEP 20 32 9/30/2020 7,066,500 705 0.166%

WNU0 ULTRA US BOND FUT SEP 20 9 9/21/2020 1,963,406 38,518 0.046%

Total Futures Contracts 272,341

NET ASSETS 4,252,174,545

NET ASSET VALUE PER SHARE

Balanced Fund Shares 24.29

($3,527,462,683 / 145,229,561 Shares Outstanding)

Balanced Fund - I Class Shares 24.28

($724,711,862 / 29,850,885 Shares Outstanding)

ADR American Depository Receipts

ADS American Depository Shares

AR Auction Rate security with an interest rate reset feature through a modified Dutch auction at predetermined short-term intervals; rate shown is effective rate at period end

ARM Adjustable Rate Mortgage

BAN Bond Anticipation Note

CDA Community Development Administration

CLN Credit Linked Note

CMO Collateralized Mortgage Obligation

COP Certificate of Participation

DOT Department of Transportation

EFA Educational Facility Authority

ETC Equipment Trust Certificate

FDR Fiduciary Depository Receipt

FRN Floating Rate Note

GDR Global Depository Receipts

GDS Global Depository Shares

GO General Obligation

HDA Housing Development Authority

HEFA Health & Education Facility Authority

HFA Health Facility Authority

HFC Housing Finance Corp

HFFA Health Facility Financing Authority

HHEFA Health & Higher Education Facility Authority

IDA Industrial Development Authority/Agency

IDB Industrial Development Bond

IDC Industrial Development Corp

IDRB Industrial Development Revenue Bond

IO Interest Only security for which the fund receives interest on notional principal (par)

PCR Pollution Control Revenue

PFA Public Finance Authority

PIK Payment-in-kind

PTC Pass-Through Certificate

RAC Revenue Anticipation Certificate

RAN Revenue Anticipation Note

RAW Revenue Anticipation Warrant

REIT Real Estate Investment Trust

RIB Residual interest bond issued by a third party securitization trust and purchased directly through a cash transaction that involved no exchange of previously held securities; rate varies

inversely to short-term rates and the rate presented is the effective rate at period-end

STEP Stepped coupon bond for which the coupon rate of interest will adjust on specified future dates(s)

Total Swap Contracts

Page 21 of 22

TAN Tax Anticipation Note

TAW Tax Anticipation Warrant

TBA To Be Announced purchase commitment

TDFA Trade & Deposit Facility Agreement

TECP Tax-Exempt Commercial Paper

TRAN Tax Revenue Anticipation Note

VR Variable Rate; rate shown is effective rate at period end

VRDN Variable Rate Demand Note under which the holder has the right to sell the security to the issuer or the issuer's agent at a predetermined price (generally par) on specified dates upon

required notification; rate shown is effective rate at period-end

Important Information

The portfolio data contained herein is for informational purposes only and does not constitute a recommendation or an offer for a particular security or investment. Unlike the fund's regulatory

filings, the portfolio data and its presentation in this document do not conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation

requirements. The holdings are not audited and the information may differ in certain respects, such as derivatives exposure and security name, from the information found in the complete list

of portfolio investments in the semiannual and annual shareholder reports and Form N-Q.

Page 22 of 22

Documents

Page 1 of 22 - T. Rowe Price Investment Management · 2020-07-15 · T. Rowe Price Balanced Fund 06/30/2020 (Unaudited) Portfolio of Investments Investments in Securities Coupon %