TEXAS PERMANENT SCHOOL FUND ALL PUBLIC MARKET HOLDINGS

FISCAL YEAR ENDING AUGUST 31, 2020

Physical Address: The Texas Permanent School Fund 400 West 15th Street 11th Floor Austin, Texas 78701-1600

Mailing Address: Texas Education Agency 1701 North Congress Avenue Austin, Texas 78701-1494

http://tea.texas.gov/Finance_and_Grants/Texas_Permanent_School_Fund/Texas_Permanent_ School_Fund_-_Holdings/

TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Advertising, Media, & Publishing PLC 198,189 $ 1,114,549 $ 1,494,535 BOLLORE SA 156,205 983,153 588,088 INC 2,163 42,012 33,231 SOUTH PUBLISHING & MEDIA 278,392 473,347 454,862 CYFROWY POLSAT SA 50,645 244,740 397,037 GROUP INC 53,000 1,380,170 1,391,409 GRUPO TELEVISA SAB 657,626 2,983,019 811,891 HAKUHODO DY HOLDINGS INC 67,000 468,739 833,986 PLC 309,477 3,461,559 1,713,023 JCDECAUX SA 18,361 592,465 351,122 MULTICHOICE GROUP 109,769 751,263 627,788 PEARSON PLC 177,525 2,062,313 1,329,678 PUBLICIS GROUPE SA 52,970 1,996,949 1,860,574 QUEBECOR INC 26,838 629,362 666,135 RELX PLC 485,459 5,250,082 11,066,341 SCHIBSTED ASA 26,412 793,900 1,053,680 SHAW COMMUNICATIONS INC 112,421 1,081,828 2,104,416 TELENET GROUP HOLDING NV 16,087 592,789 626,815 THOMSON CORP 58,460 2,222,698 4,473,730 VIVENDI SA 209,439 5,273,271 5,961,390 WOLTERS KLUWER NV 72,834 1,234,160 5,992,881 WPP PLC 308,593 2,841,574 2,667,559 Advertising, Media, & Publishing Total 3,447,865 $ 36,473,942 $ 46,500,171

Aerospace & Defense AECC AVIATION POWER CO LTD 26,500 90,593 172,572 AIRBUS SE 138,025 5,861,671 11,363,488 ASELSAN ELEKTRONIK SANAYI VE T 176,410 547,486 389,305 AVICHINA INDUSTRY & TECHNOLOGY 640,000 482,712 399,683 BAE SYSTEMS PLC 832,945 4,026,837 5,794,952 DASSAULT AVIATION SA 816 987,037 744,120 ELBIT SYSTEMS LTD 7,666 955,720 1,036,085 KAWASAKI HEAVY INDUSTRIES LTD 40,880 1,002,848 579,016 KOREA AEROSPACE INDUSTRIES LTD 20,774 893,239 392,606 LEONARDO SPA 120,039 1,697,305 813,702 MTU AERO ENGINES AG 13,105 2,363,218 2,433,222 ROLLS‐ROYCE HOLDINGS PLC 559,373 2,561,535 1,805,773 SAFRAN SA 79,526 3,230,963 9,227,487 THALES SA 26,830 1,038,892 2,101,721 Aerospace & Defense Total 2,682,889 $ 25,740,056 $ 37,253,732

Agriculture & Environment CHAROEN POKPHAND INDONESIA TBK 2,223,945 499,375 962,125 GENTING PLANTATIONS BHD 74,200 198,096 177,061 GUDANG GARAM TBK PT 161,500 628,594 526,785 HANJAYA MANDALA SAMPOERNA TBK 2,753,300 792,651 311,964

Page 1 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SE CURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Agriculture & Environment IOI CORP BHD 968,695 1,011,091 1,037,182 TOBACCO INC 289,000 5,253,610 5,402,824 KT&G CORP 36,592 2,150,040 2,559,808 KUALA LUMPUR KEPONG BHD 144,100 494,615 783,893 MUYUAN FOODS CO LTD 79,128 456,117 1,013,514 NEW HOPE LIUHE CO LTD 77,000 193,293 426,854 SWEDISH MATCH AB 36,706 726,721 2,794,354 WENS FOODSTUFFS GROUP CO LTD 108,600 475,104 391,003 Agriculture & Environment Total 6,952,766 $ 12,879,307 $ 16,387,367

Banking & GROUP PLC 246,047 1,364,002 3,090,191 ABSA GROUP LTD 190,898 2,333,354 870,471 ABU DHABI COMMERCIAL PJSC 863,375 1,979,534 1,302,179 ACOM CO LTD 142,200 387,668 555,149 AERCAP HOLDINGS NV 28,713 1,135,298 849,043 AFTERPAY LTD 50,311 1,583,642 3,402,254 AGRICULTURAL LTD 9,372,900 4,225,462 3,300,850 AKBANK T.A.S. 481,897 1,314,491 320,217 AMMB HOLDINGS BHD 508,162 481,852 356,220 LTD 38,400 972,558 689,820 ASX LTD 57,622 980,174 3,721,937 AUSTRALIA & NEW ZEALAND BANKIN 699,511 10,989,994 9,456,671 AXIS BANK LTD 196,028 6,441,888 6,618,885 B3 SA ‐ BRASIL BOLSA BALCAO 511,715 3,611,435 5,484,759 BANCO BILBAO VIZCAYA ARGENTARI 1,610,203 14,645,574 4,723,797 BANCO BRADESCO SA 1,416,057 8,865,397 5,255,498 BANCO BTG PACTUAL SA 56,738 715,412 830,814 BANCO DE CHILE 11,725,253 1,215,049 982,534 BANCO DE CREDITO E INVERSIONES 11,153 551,648 352,320 BANCO DO BRASIL SA 211,125 2,451,897 1,256,536 BRASIL SA 80,260 412,632 413,743 BANCO SANTANDER CHILE 12,341,404 1,024,293 475,789 BANCO SANTANDER SA 3,996,221 32,182,561 8,903,093 BANCOLOMBIA SA 173,812 2,011,659 1,223,276 BANK PCL 135,300 759,670 462,991 BANK CENTRAL ASIA TBK PT 2,441,700 2,394,827 5,260,695 BANK HAPOALIM BM 296,097 1,361,099 1,796,856 BANK LEUMI LE‐ISRAEL BM 367,359 1,171,698 1,885,157 BANK MANDIRI PERSERO TBK PT 5,557,624 1,207,194 2,270,770 BANK NEGARA INDONESIA PERSERO 1,140,030 468,609 399,258 CO LTD 584,097 466,438 414,972 BANK OF CHINA LTD 21,436,878 8,422,828 7,155,946 CO LTD 3,246,844 2,644,010 1,817,374 BANK OF EAST ASIA LTD/THE 362,890 1,006,239 818,477 BANK OF JIANGSU CO LTD 511,500 540,898 479,056

Page 2 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Banking & Finance BANK OF KYOTO LTD/THE 17,400 768,637 741,647 172,318 8,476,400 10,947,837 BANK OF CO LTD 631,600 751,523 791,481 BANK OF CO LTD 217,798 834,235 1,127,944 BANK OF NOVA SCOTIA 287,850 11,583,470 12,453,359 CO LTD ORD 561,699 743,908 689,955 BANK OF THE PHILIPPINE ISLANDS 311,183 367,902 430,015 BANK POLSKA KASA OPIEKI SA 56,607 1,818,587 807,007 BANK RAKYAT INDONESIA PERSERO 13,110,400 1,156,411 3,160,022 BANKINTER SA 181,449 1,436,808 978,037 BANQUE CANTONALE VAUDOISE 7,235 775,187 775,365 PLC 4,338,275 22,405,506 6,503,458 BDO UNIBANK INC 610,038 915,028 1,082,052 BNK FINANCIAL GROUP INC 59,135 673,014 252,888 BNP PARIBAS SA 262,356 16,924,401 11,472,805 BOC HOLDINGS LTD 887,500 2,058,826 2,519,306 CAIXABANK SA 901,427 4,182,571 1,985,790 CANADIAN IMPERIAL BK OF COMM 107,770 6,670,106 8,565,686 CAPITEC BANK HOLDINGS LTD 11,237 469,214 553,849 CHAILEASE HOLDING CO LTD 316,239 468,024 1,395,735 CHANG HWA COMMERCIAL BANK LTD 973,552 497,920 605,536 LTD/THE 148,900 909,106 772,266 CHINA CINDA ASSET MANAGEMENT C 1,622,000 997,443 309,744 CHINA CITIC BANK CORP LTD 2,251,074 1,505,445 941,076 CHINA CONCH VENTURE HOLDINGS L 406,500 1,171,598 1,762,340 CORP 23,384,770 16,770,255 16,565,149 CHINA DEVELOPMENT FINANCIAL HO 3,687,224 1,307,590 1,073,186 CO LTD 1,296,400 683,537 646,644 CHINA EVERBRIGHT LTD 294,000 707,020 452,941 CHINA GALAXY SECURITIES CO LTD 771,500 991,629 464,882 CO LTD 1,238,132 3,726,537 6,139,319 CHINA MERCHANTS SECURITIES CO 2 26,720 467,660 712,758 CHINA MINSHENG BANKING CORP LT 2,348,286 1,745,111 1,556,239 CHONGQING RURAL COMMERCIAL BAN 687,000 487,270 280,113 CI FINANCIAL INC 70,215 1,192,463 998,029 CIMB GROUP HOLDINGS BHD 1,177,045 1,558,739 932,481 CITIC LTD 1,118,000 2,210,759 1,019,885 CITIC SECURITIES CO LTD 505,100 1,363,487 1,663,290 COMMERCIAL BANK PSQC/THE 1,320,270 1,335,139 1,506,290 COMMERCIAL INTERNATIONAL BANK 368,858 741,626 1,572,475 COMMERZBANK AG 231,124 6,353,731 1,344,195 COMMONWEALTH BANK OF AUSTRALIA 433,718 14,364,088 21,901,230 CONCORDIA FINANCIAL GROUP LTD 252,367 1,425,084 837,693 CREDICORP LTD 18,931 2,637,942 2,470,117 CREDIT AGRICOLE SA 245,135 4,750,776 2,517,737 GROUP AG 592,846 14,125,549 6,540,432

Page 3 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Banking & Finance CRONOS GROUP INC 66,523 434,751 369,133 CSC FINANCIAL CO LTD 81,600 333,858 622,226 CTBC FINANCIAL HOLDING CO LTD 4,490,553 1,716,416 2,900,192 INC 420,500 2,743,730 1,895,412 DANSKE BANK A/S 174,521 4,697,287 2,706,700 DBS GROUP HOLDINGS LTD 401,224 3,691,317 6,158,830 AG 465,934 12,465,247 4,471,801 DEUTSCHE BOERSE AG 48,123 2,913,742 9,116,348 DNB ASA 58,608 560,596 946,859 DUBAI ISLAMIC BANK PJSC 1,112,874 1,615,827 1,242,199 E.SUN FINANCIAL HOLDING CO LTD 2,418,338 734,094 2,241,835 CO LTD 127,100 447,652 485,052 EMIRATES NBD BANK PJSC 431,079 1,152,768 1,267,482 ERSTE GROUP BANK AG 66,088 2,326,570 1,610,793 CO LTD 160,269 243,586 512,502 FAR EAST HORIZON LTD 441,000 363,031 390,349 FINECOBANK BANCA FINECO SPA 116,931 1,242,747 1,776,014 FIRST ABU DHABI BANK PJSC 850,473 2,909,578 2,653,423 FIRST FINANCIAL HOLDING CO LTD 2,771,518 1,029,632 2,007,217 FIRSTRAND LTD 1,281,171 3,244,346 2,862,382 FUBON FINANCIAL HOLDING CO LTD 1,853,947 1,380,416 2,704,324 INC 43,600 1,247,364 721,562 GF SECURITIES CO LTD 297,800 810,338 352,358 GRUPO FINANCIERO BANORTE SAB D 598,430 2,392,001 2,069,049 GRUPO FINANCIERO INBURSA SAB D 625,944 1,210,702 457,889 CO LTD 2,400 4,223 4,905 CO LTD 224,300 492,759 632,836 CO LTD 816,400 1,537,693 741,593 INC 77,157 3,029,527 1,831,659 LTD 196,886 2,844,734 3,096,766 HONG KONG EXCHANGES & CLEARING 289,223 2,603,490 14,598,948 HONG LEONG BANK BHD 151,700 411,039 509,855 HONG LEONG FINANCIAL GROUP BHD 102,896 422,994 304,822 HSBC HOLDINGS PLC 4,900,071 51, 782,557 21,660,977 HUA NAN FINANCIAL HOLDINGS CO 2,198,436 868,261 1,352,411 CO LTD 327,600 794,074 1,023,212 ICICI BANK LTD 1,050,058 7,338,713 11,277,623 IGM FINANCIAL INC 31,909 877,565 779,511 INDUSTRIAL & COMMERCIAL BANK O 15,857,126 10,018,910 9,023,157 CO LTD 343,700 857,259 810,263 47,510 720,952 323,559 ING GROEP NV 888,732 11,154,980 7,231,829 INTESA SANPAOLO SPA 3,622,191 10,785,556 7,820,053 ISRAEL DISCOUNT BANK LTD 363,422 1,400,669 1,166,680 ITAU UNIBANCO HOLDING SA 1,190,459 9,017,953 5,110,430 ITAUSA SA 1,368,344 4,895,209 2,352,118

Page 4 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Banking & Finance JAPAN EXCHANGE GROUP INC 148,900 1,421,749 3,858,524 JAPAN POST BANK CO LTD 134,500 1,597,339 1,081,885 JULIUS BAER GROUP LTD 51,348 1,952,679 2,469,175 KASIKORNBANK PCL 503,568 2,206,011 1,363,181 KB FINANCIAL GROUP INC 82,891 5,314,490 2,571,373 KBC GROUP NV 60,191 2,970,260 3,462,499 KOMERCNI BANKA AS 20,885 718,183 503,806 KOREA INVESTMENT HOLDINGS CO L 11,330 551,013 580,855 KRUNG THAI BANK PCL 986,875 363,503 302,825 KURITA WATER INDUSTRIES LTD 5,400 82,105 169,060 PLC 16,816,732 25,030,109 6,383,502 LTD 85,311 3,254,399 8,056,816 MAGELLAN FINANCIAL GROUP LTD 32,644 1,121,578 1,430,406 MALAYAN BANKING BHD 1,079,298 2,491,637 1,899,233 MASRAF AL RAYAN QSC 1,036,710 1,610,212 1,187,333 MBANK SA 4,135 523,706 212,017 MEBUKI FINANCIAL GROUP INC 208,260 771,295 504,718 BANCA DI CREDITO FI 162,421 1,703,476 1,414,510 MEGA FINANCIAL HOLDING CO LTD 2,425,584 1,541,662 2,418,020 METROPOLITAN BANK & TRUST CO 216,995 210,728 149,930 MIRAE ASSET DAEWOO CO LTD 103,462 1,028,379 809,998 UFJ FINANCIAL GROUP 2,885,348 22,339,965 12,039,856 MITSUBISHI UFJ LEASE & FINANCE 84,300 322,153 398,268 MIZRAHI TEFAHOT BANK LTD 52,842 892,325 1,078,518 INC 5,630,456 15,715,741 7,635,057 MOSCOW EXCHANGE MICEX‐RTS PJSC 303,490 571,586 559,897 NATIONAL AUSTRALIA BANK LTD 767,475 15,577,486 10,176,819 NATIONAL BANK OF CANADA 76,717 1,647,973 4,221,658 SA 288,863 1,427,362 796,298 NATWEST GROUP PLC 1,157,901 17,557,825 1,748,819 NEDBANK GROUP LTD 100,004 1,744,493 566,628 NH INVESTMENT & SECURITIES CO 38,636 666,358 291,421 NOAH HOLDINGS LTD 8,541 511,456 239,148 INC 819,900 7,624,879 4,209,869 NORDEA BANK ABP 782,186 5,892,760 6,314,667 OLD MUTUAL LTD 1,321,371 4,264,821 872,789 ONEX CORP 13,563 242,593 659,231 CORP 357,120 3,651,562 4,452,003 OTP BANK NYRT 45,793 1,350,599 1,549,272 OVERSEA‐CHINESE BANKING CORP L 747,685 3,651,232 4,767,894 CO LTD 304,100 607,857 668,995 POWER CORP CANADA 141,778 3,348,648 2,833,493 POWSZECHNA KASA OSZCZEDNOSCI B 180,642 2,238,902 1,062,122 PUBLIC BANK BHD 786,020 4,007,819 3,098,415 QATAR INTERNATIONAL ISLAMIC BA 188,594 422,828 443,385 QATAR ISLAMIC BANK SAQ 326,965 1,193,310 1,436,814

Page 5 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Banking & Finance QATAR NATIONAL BANK QPSC 1,033,460 4,540,805 5,109,113 RAIFFEISEN BANK INTERNATIONAL 35,364 1,945,998 634,404 RAND MERCHANT INVESTMENT HOLDI 237,850 465,020 422,174 INC 478,000 3,986,836 1,757,933 RHB BANK BHD 222,760 249,182 244,926 347,844 13,623,909 26,517,782 CARD CO LTD 12,927 643,515 312,864 SAMSUNG SECURITIES CO LTD 17,663 840,484 448,303 SANTANDER BANK POLSKA SA 7,584 615,002 313,196 PJSC 2,542,594 7,551,278 7,723,486 SBI HOLDINGS INC/JAPAN 47,430 910,581 1,079,246 SEVEN BANK LTD 155,200 428,720 389,299 SHANGHAI COMMERCIAL & SAVINGS 674,698 1,118,275 961,177 SHANGHAI PUDONG DEVELOPMENT BA 355,000 566,139 536,529 SHENWAN HONGYUAN GROUP CO LTD 2,230,400 1,448,724 1,835,131 CO LTD 101,709 4,441,545 2,538,659 LTD 48,200 1,646,862 563,155 LTD/THE 110,300 1,020,425 766,572 SIAM COMMERCIAL BANK PCL/THE 393,000 1,224,706 915,495 SINGAPORE EXCHANGE LTD 209,400 573,015 1,326,077 SINOPAC FINANCIAL HOLDINGS CO 2,629,882 810,547 968,005 SKANDINAVISKA ENSKILDA BANKEN 393,351 3,415,114 3,910,274 SOCIETE GENERALE SA 184,061 11,822,563 2,989,775 SRISAWAD CORP PCL 269,880 550,411 381,464 GROUP LTD 286,873 3,363,925 1,787,998 PLC 658,854 9,536,262 3,461,645 STATE BANK OF INDIA 219,057 7,740,548 6,503,903 SUMITOMO FINANCIAL GROU 303,254 15,269,738 8,916,460 SUMITOMO MITSUI TRUST HOLDINGS 76,120 3,474,149 2,204,390 SVENSKA HANDELSBANKEN AB 346,416 3,005,016 3,495,107 SWEDBANK AB 224,219 3,269,304 3,811,615 TAISHIN FINANCIAL HOLDING CO L 2,647,364 645,910 1,195,494 TAIWAN BUSINESS BANK 1,252,847 175,601 426,988 TAIWAN COOPERATIVE FINANCIAL H 1,739,553 861,682 1,188,693 TMB BANK PCL 3,384,530 225,669 102,224 TMX GROUP LTD 12,670 1,265,518 1,333,367 CENTURY CORP 8,400 506,576 430,911 TORONTO DOMINION BANK 437,406 15,135,546 21,844,283 TURKIYE GARANTI BANKASI AS 613,520 1,853,841 563,581 TURKIYE IS BANKASI AS 431,932 1,115,874 288,189 UBS GROUP AG 899,102 19,662,498 10,968,555 SPA 457,504 15,025,346 4,514,003 UNITED OVERSEAS BANK LTD 293,757 3,029,505 4,226,160 VTB BANK PJSC 781,470,300 2,041,361 369,842 WESTPAC BANKING CORP 858,436 14,982,492 11,135,380 INC 89,995 1,252,698 640,928

Page 6 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Banking & Finance YUANTA FINANCIAL HOLDING CO LT 2,597,032 1,280,749 1,628,594 Banking & Finance Total 1,056,899,603 $ 826,691,469 $ 640,847,372

Biotechnology & Chemistry AIR LIQUIDE SA 113,485 5,942,526 18,872,194 AIR WATER INC 43,000 498,608 604,177 AKZO NOBEL NV 52,682 2,595,180 5,225,638 ARGENX SE 7,473 1,731,508 1,731,162 SA 16,379 1,534,797 1,819,768 CORP 264,400 1,449,577 2,219,020 BARITO PACIFIC TBK PT 6,426,600 566,308 370,704 BASF SE 222,527 9,930,838 13,588,657 BEIGENE LTD 11,045 1,620,649 2,668,141 BEIJING TIANTAN BIOLOGICAL PRO 49,920 160,633 308,268 BRENNTAG AG 37,416 1,292,360 2,347,463 CHR HANSEN HOLDING A/S 26,393 1,712,008 3,036,744 CLARIANT AG 42,066 1,101,249 878,273 PLC 37,685 1,375,329 2,977,042 CSL LTD 109,509 2,185,949 23,163,201 DAICEL CORP 82,000 369,348 595,408 EMS‐CHEMIE HOLDING AG 2,839 870,329 2,568,011 EVONIK INDUSTRIES AG 55,797 1,772,014 1,621,549 FORMOSA CHEMICALS & FIBRE CORP 883,135 2,794,399 2,040,678 FORMOSA PLASTICS CORP 1,114,139 1,860,334 2,969,367 GENMAB A/S 17,374 2,481,930 6,575,975 GIVAUDAN SA 2,374 2,003,094 9,992,182 H LUNDBECK A/S 20,897 1,116,102 687,542 CORP 23,983 314,473 806,567 CHEMICAL CO LTD 29,700 538,711 1,296,723 HUALAN BIOLOGICAL 86,350 323,929 725,588 HUTCHISON CHINA MEDITECH LTD 14,905 488,128 495,144 ICL GROUP LTD 257,787 1,239,078 960,620 INDORAMA VENTURES PCL 398,521 659,976 303,477 INDUSTRIES QATAR QSC 335,530 1,759,463 908,631 INNER MONGOLIA JUNZHENG ENERGY 1,327,400 461,115 1,812,520 IRPC PCL 2,866,900 520,784 215,553 PLC 49,530 984,696 1,575,057 KANSAI PAINT CO LTD 35,200 211,841 839,462 KINGBOARD HOLDINGS LTD 139,500 555,588 449,091 KONINKLIJKE DSM NV 42,275 1,757,786 6,797,629 CO LTD 3,889 769,218 329,022 CO LTD 100,600 845,819 1,029,289 LANXESS AG 19,712 1,366,159 1,155,390 LG CHEM LTD 11,204 1,087,884 6,979,513 LOTTE CHEMICAL CORP 3,610 1,055,580 575,886 MESAIEED PETROCHEMICAL HOLDING 778,154 555, 416 453,086

Page 7 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Biotechnology & Chemistry MITSUBISHI CHEMICAL HOLDINGS C 313,000 1,771,756 1,829,388 MITSUBISHI GAS CHEMICAL CO INC 55,000 448,500 982,319 INC 49,980 1,189,357 1,174,974 NAN YA PLASTICS CORP 1,301,729 2,207,482 2,728,434 NIPPON PAINT HOLDINGS CO LTD 42,000 665,371 3,604,130 NIPPON SANSO HOLDINGS CORP 40,800 789,850 717,929 CHEMICAL CORP 29,700 1,018,406 1,573,992 CORP 38,165 1,826,607 2,317,720 NOVOZYMES A/S 54,574 904,636 3,236,048 ORBIA ADVANCE CORP SAB DE CV 312,044 966,145 501,301 PETRONAS CHEMICALS GROUP BHD 566,800 1,061,240 742,943 PHOSAGRO PJSC 29,966 449,445 357,195 PTT GLOBAL CHEMICAL PCL 473,729 1,071,463 703,991 SASOL LTD 127,832 4,314,969 1,045,595 KANGTAI BIOLOGICAL PR 17,600 178,492 508,374 SHIN‐ETSU CHEMICAL CO LTD 85,644 3,987,808 10,406,176 KK 29,400 1,402,869 573,057 SHANGHAI PETROCHEMICAL 927,000 297,357 191,377 SOLVAY SA 17,718 1,359,456 1,539,230 CO LTD 349,895 1,511,892 1,138,326 SYMRISE AG 32,561 2,007,974 4,499,670 INC 308,098 1,634,639 1,463,426 CORP 63,000 1,072,515 935,688 UMICORE SA 47,979 501,341 2,208,575 CO LTD 95,895 672,233 1,025,288 YARA INTERNATIONAL ASA 47,770 1,796,111 2,014,729 ZAI LAB LTD 9,673 535,203 767,746 Biotechnology & Chemistry Total 21,631,437 $ 98,103,830 $ 183,357,033

Capital Goods & Vehicles CAE INC 73,015 1,065,237 1,158,870 WSP GLOBAL INC 31,033 1,702,820 2,107,610 Capital Goods & Vehicles Total 104,048 $ 2,768,057 $ 3,266,480

Commercial Services ADECCO GROUP AG 45,881 2,619,702 2,408,057 AMADEUS IT GROUP SA 98,083 2,437,415 5,502,654 PLC 108,539 1,830,955 3,785,802 ATLANTIA SPA 123,788 2,212,552 1,973,430 BENESSE HOLDINGS INC 19,608 568,190 499,422 BRAMBLES LTD 421,062 2,279,711 3,453,386 SA 110,147 1,984,210 2,502,217 CCR SA 356,878 1,363,535 867,166 CHINA MERCHANTS PORT HOLDINGS 367,908 1,283,601 421,068 CIELO SA 325,664 1,566,342 270,699 COGNA EDUCACAO 363,020 1,536,909 377,188

Page 8 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Commercial Services COSCO SHIPPING PORTS LTD 490,000 893,302 277,556 CO LTD 56,306 1,584,640 1,196,791 66,901 1,747,797 3,462,044 PLC 234,312 2,619,387 8,753,124 GMO PAYMENT GATEWAY INC 8,800 629,305 930,247 TIGERMED CONSULTING C 56,600 515,223 924,783 INTERNATIONAL CONTAINER TERMIN 157,590 248,222 341,280 GROUP PLC 41,380 1,147,894 3,255,642 JIANGSU EXPRESSWAY CO LTD 320,000 225,396 320,407 LOCALIZA RENT A SA 127,165 524,373 1,117,988 NEW ORIENTAL EDUCATION & TECHN 34,572 1,267,076 5,069,292 NIHON M&A CENTER INC 38,700 1,555,711 1,926,880 PARK24 CO LTD 36,300 612,243 655,861 PERSOL HOLDINGS CO LTD 42,500 1,029,555 663,280 PROMOTORA Y OPERADORA DE INFRA 62,700 794,936 466,053 RANDSTAD NV 36,375 1,305,763 1,899,762 RECRUIT HOLDINGS CO LTD 306,500 4,997,362 11,636,277 PLC 474,733 2,362,234 3,387,981 RITCHIE BROS AUCTIONEERS INC 26,884 1,159,440 1,574,724 S‐1 CORP 10,929 584,409 802,264 CO LTD 53,000 2,708,635 5,010,373 SECURITAS AB 86,348 710,182 1,232,406 SGS SA 1,527 2,442,333 3,964,824 SHANGHAI INTERNATIONAL PORT GR 456,786 504,208 295,870 SHENZHEN INTERNATIONAL HOLDING 246,000 538,843 394,862 SOHGO SECURITY SERVICES CO LTD 19,600 993,985 915,819 TAL EDUCATION GROUP 91,091 1,085,827 6,723,427 PRINTING CO LTD 67,000 1,399,172 1,041,218 TRANSURBAN GROUP 654,555 3,995,496 6,515,665 WESTPORTS HOLDINGS BHD 243,100 213,324 213,015 EXPRESSWAY CO LTD 372,000 269,090 251,035 Commercial Services Total 7,260,832 $ 60,348,485 $ 97,281,839

Communications ACCTON TECHNOLOGY CORP 151,000 842,295 1,204,230 ADVANCED INFO SERVICE PCL 363,600 1,608,270 2,137,965 ALTICE EUROPE NV 153,742 897,677 681,782 AMERICA MOVIL SAB DE CV 7,930,408 8,230,535 4,815,641 AXIATA GROUP BHD 723,025 940,139 522,460 BCE INC 25,785 935,987 1,109,411 BT GROUP PLC 2,077,587 6,487,902 2,911,138 LTD 1,480,000 14,313,897 10,340,703 HONG KONG LTD 1,563,220 3,240,826 1,107,343 CHINA UNITED NETWORK COMMUNICA 576,300 493,071 436,336 CHUNGHWA TELECOM CO LTD 1,137,840 3,366,310 4,207,544 DEUTSCHE TELEKOM AG 790,570 12, 799,395 13,945,862

Page 9 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Communications DIGI.COM BHD 1,001,430 895,372 949,622 ELISA OYJ 39,679 1,088,337 2,339,013 EMIRATES TELECOMMUNICATIONS GR 651,268 2,860,328 2,936,171 EMPRESA NACIONAL DE TELECOMUNI 30,931 499,750 187,699 FAR EASTONE TELECOMMUNICATIONS 466,000 750,998 973,563 GDS HOLDINGS LTD 22,107 990,272 1,789,341 GLOBE TELECOM INC 8,980 184,068 386,723 GUANGZHOU HAIGE COMMUNICATIONS 362,700 607,623 699,494 HELLENIC TELECOMMUNICATIONS OR 83,388 779,259 1,366,272 HENGTONG OPTIC‐ELECTRIC CO LTD 127,300 346,328 303,635 HIKARI TSUSHIN INC 5,700 767,141 1,377,095 HKT TRUST & HKT LTD 959,820 1,072,414 1,372,206 INTOUCH HOLDINGS PCL 560,900 1,001,011 982,217 KDDI CORP 385,300 5,595,299 11,183,492 KMW CO LTD 12,461 525,150 801,432 KONINKLIJKE KPN NV 878,272 3,201,785 2,307,662 LG UPLUS CORP 71,403 879,095 718, 298 MAXIS BHD 581,700 1,015,917 698,236 MEGACABLE HOLDINGS SAB DE CV 67,507 314,821 194,292 MOBILE TELESYSTEMS PJSC 152,817 3,069,271 1,424,254 MTN GROUP LTD 412,218 5,248,308 1,485,968 NICE LTD 16,366 883,265 3,750,008 NIPPON TELEGRAPH & TELEPHONE C 290,704 4,527,684 6,610,710 NOKIA OYJ 1,394,619 15,430,076 6,792,501 NTT DOCOMO INC 281,800 5,764,025 7,863,135 OOREDOO QPSC 409,702 1,136,138 742,775 ORANGE POLSKA SA 261,450 1,677,406 514,911 ORANGE SA 487,914 11,084,849 5,444,249 PCCW LTD 1,135,000 413,666 711,741 PLDT INC 28,669 1,823,475 874,527 PROXIMUS SADP 39,870 1,281,398 791,053 ROGERS COMMUNICATIONS INC 87,153 1,954,878 3,629,396 SAMSUNG SDI CO LTD 13,063 1,446,075 4,976,016 SES SA 93,321 2,607,436 664,063 SINGAPORE TELECOMMUNICATIONS L 2,043,385 3,986,375 3,456,741 SK TELECOM CO LTD 4,347 869,722 907,531 SOFTBANK CORP 407,700 5,424,475 5,353,598 SOFTBANK GROUP CORP 368,300 6,250,612 22,915,210 SPARK NEW ZEALAND LTD 697,632 1,477,277 2,277,487 SWISSCOM AG 6,296 2,678,203 3,496,030 TAIWAN MOBILE CO LTD 505,751 1,075,932 1,749,526 TELE2 AB 134,342 1,550,063 1,908,836 TELECOM ARGENTINA SA 9,355 145,798 63,240 TELECOM ITALIA SPA/MILANO 3,142,199 7,225,382 1,495,299 TELEFONAKTIEBOLAGET LM ERICSSO 720,929 8,668,214 8,379,542 TELEFONICA DEUTSCHLAND HOLDING 190,280 697,509 527,041

Page 10 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Communications TELEFONICA SA 1,253,088 17,328,656 4,961,966 TELEKOM MALAYSIA BHD 294,000 459,720 292,906 TELEKOMUNIKASI INDONESIA PERSE 11,768,950 1,977,728 2,311,377 TELENOR ASA 180,554 2,427,186 2,956,525 TELIA CO AB 634,869 3,305,647 2,451,897 TELSTRA CORP LTD 921,980 3,151,154 1,970,547 TELUS CORP 111,867 1,030,899 2,062,278 TIM PARTICIPACOES SA 243,377 1,147,712 635,294 TPG TELECOM LTD 84,697 493,077 515,508 TRUE CORP PCL 2,336,906 546,528 249,290 TURKCELL ILETISIM HIZMETLERI A 252,730 1,282,509 491,791 VODACOM GROUP LTD 166,909 1,452,459 1,259,804 GROUP PLC 6,343,456 28,540,296 9,465,235 ZTE CORP 237,081 362,929 689,816 Communications Total 61,455,569 $ 239,435,284 $ 204,106,500

Construction & Machinery ACS ACTIVIDADES DE CONSTRUCCIO 68,113 2,108,700 1,671,550 AEROPORTS DE 8,153 899,026 856,101 AGC INC/JAPAN 26,060 1,393,824 738,463 AGNICO EAGLE MINES LIMITED 57,178 1,658,603 4,719,231 AIRPORTS OF THAILAND PCL 1,151,300 1,006,842 2,071,582 ANDRITZ AG 20,497 1,040,320 687,355 CO LTD 433,495 1,208,395 3,259,502 ASIA CEMENT CORP 626,162 469,979 906,971 ATLAS COPCO AB 246,432 1,956,454 10,890,673 AUCKLAND INTERNATIONAL AIRPORT 248,473 437,065 1,113,461 B GRIMM POWER PCL 237,500 507,080 352,940 B2GOLD CORP 167,623 920,781 1,126,964 PLC 232,395 2,120,286 1,634,240 BARRICK GOLD CORP 419,716 9,745,023 12,447,006 BBMG CORP 1,292,800 607,419 622,373 BEIJING CAPITAL INTERNATIONAL 570,000 512,662 403,037 PLC 24,693 1,095,049 1,507,328 BOUYGUES SA 52,764 1,991,911 2,098,178 CAMECO CORP 112,886 1,514,351 1,309,112 CCL INDUSTRIES INC 41,030 1,400,737 1,518,137 CEMEX SAB DE CV 3,530,970 4,226,378 1,132,569 CHINA COMMUNICATIONS CONSTRUCT 1,278,819 2,074,756 717,775 CHINA COMMUNICATIONS SERVICES 654,400 368,231 429,785 CHINA NATIONAL BUILDING MATERI 878,536 1,068,722 1,235,594 CHINA RAILWAY CONSTRUCTION COR 541,947 777,010 598,712 CHINA RAILWAY GROUP LTD 1,831,455 1,517,803 1,391,778 CHINA RESOURCES CEMENT HOLDING 592,000 698,236 863,157 CHINA STATE CONSTRUCTION ENGIN 598,800 483,994 449,004 CHINA STATE CONSTRUCTION INTER 528,000 566,056 409,448

Page 11 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Construction & Machinery CIE DE SAINT‐GOBAIN 108,285 5,091,235 4,400,527 CIMIC GROUP LTD 18,367 229,860 287,559 CK INFRASTRUCTURE HOLDINGS LTD 181,000 657,584 957,530 CNH INDUSTRIAL NV 267,082 3,026,727 2,119,011 CRH PLC 215,067 4,110,378 7,973,491 DAELIM INDUSTRIAL CO LTD 2,022 168,638 147,918 DAEWOO ENGINEERING & CONSTRUCT 666 12,256 1,651 DAIFUKU CO LTD 28,100 1,578,242 2,472,281 INDUSTRIES LTD 55,261 2,007,178 10,403,940 INDUSTRY CO LTD 130,533 1,735,876 3,496,431 SA 17,555 1,515,361 1,621,226 EPIROC AB 264,680 612,527 3,896,959 FANUC CORP 45,210 4,133,090 7,931,841 FERROVIAL SA 124,292 2,113,628 3,326,720 FIRST QUANTUM MINERALS LTD 168,106 2,174,566 1,665,642 FRANCO‐NEVADA CORP 46,713 2,187,127 7,033,032 FRAPORT AG FRANKFURT AIRPORT S 14,373 876,933 655,947 GAMUDA BHD 466,300 392,306 380,607 GEA GROUP AG 37,836 1,236,725 1,382,839 GEBERIT A G 8,881 951,876 5,134,598 GRUPO AEROPORTUARIO DEL PACIFI 76,905 326,117 597,994 GRUPO AEROPORTUARIO DEL SUREST 59,200 609,801 670,767 GS ENGINEERING & CONSTRUCTION 13,531 842,330 281,350 HAITIAN INTERNATIONAL HOLDINGS 148,000 330,036 358,249 HEIDELBERGCEMENT AG 30,886 2,081,243 1,965,846 HEXAGON AB 65,059 1,161,263 4,725,008 HITACHI CONSTRUCTION MACHINERY 31,100 551,188 1,090,971 HITACHI LTD 233,480 6,755,885 7,772,025 HOCHTIEF AG 5,513 697,745 489,880 HUSQVARNA AB 122,161 711,204 1,331,102 HYUNDAI ENGINEERING & CONSTRUC 19,424 1,031,295 527,338 IIDA GROUP HOLDINGS CO LTD 38,800 704,926 757,377 INDOCEMENT TUNGGAL PRAKARSA TB 446,000 614,281 363,693 INVESTMENT AB LATOUR 40,554 732,591 907,004 JAMES HARDIE INDUSTRIES PLC 109,609 911,210 2,499,121 JAPAN AIRPORT TERMINAL CO LTD 23,900 1,150,905 1,075,044 JGC HOLDINGS CORP 60,000 735,598 662,549 CORP 123,700 955,372 1,540,928 KEPPEL CORP LTD 326,829 1,231,474 1,100,969 CORP 45,064 2,845,723 18,561,889 KINGSPAN GROUP PLC 28,629 1,245,868 2,463,485 KINROSS GOLD CORP 323,887 4,494,888 2,878,554 KION GROUP AG 16,892 1,534,934 1,431,513 KIRKLAND LAKE GOLD LTD 62,387 1,974,034 3,327,754 KOMATSU LTD 185,800 2,930,859 4,036,807 KONE OYJ 86,808 1,767,463 7,458,287

Page 12 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Construction & Machinery CORP 236,300 1,575,344 4,270,536 LAFARGEHOLCIM LTD 120,459 7,174,463 5,739,009 LAND & HOUSES PCL 3,737,300 1,272,530 888,618 LARSEN & TOUBRO LTD 472,171 7,134,376 6,144,645 LENDLEASE CORP LTD 163,515 1,212,724 1,405,178 LIXIL GROUP CORP 35,100 698,478 645,434 LUNDIN MINING CORP 172,773 1,074,926 1,083,353 MALAYSIA AIRPORTS HOLDINGS BHD 183,800 413,451 225,034 CORP 436,100 3,104,486 6,016,449 MITSUBISHI HEAVY INDUSTRIES LT 71,280 2,770,380 1,770,153 MIURA CO LTD 20,400 871,200 834,891 NABTESCO CORP 28,500 538,682 901,669 NIBE INDUSTRIER AB 72,475 1,609,972 2,041,916 NUTRIEN LTD 137,193 4,325,163 5,086,760 OBAYASHI CORP 137,100 677,263 1,340,683 PAN AMERICAN SILVER CORP 46,435 1,360,737 1,678,210 PEMBINA PIPELINE CORP 121,865 3,795,949 3,021,021 71,992 1,351,259 2,525,515 POWER CONSTRUCTION CORP OF CHI 678,299 490,247 402,736 RINNAI CORP 10,000 521,057 925,079 SAMSUNG C&T CORP 20,574 2,980,915 1,870,522 CO LTD 37,630 522,800 357,959 SANDVIK AB 272,404 3,224,469 5,362,837 HEAVY INDUSTRY CO LTD 181,800 386,356 587,187 PLC 262,206 1,123,098 3,345,097 SEKISUI CHEMICAL CO LTD 88,700 602,065 1,419,434 LTD 141,242 1,798,235 2,791,676 SEMEN INDONESIA PERSERO TBK PT 903,500 850,397 654,557 SHANGHAI ELECTRIC GROUP CO LTD 802,000 321,215 235,939 SHANGHAI INTERNATIONAL AIRPORT 43,000 483,522 479,255 SHIMIZU CORP 115,000 547,444 884,907 SIKA AG 31,586 1,607,411 7,597,898 SINGAPORE TECHNOLOGIES ENGINEE 498,300 1,061,667 1,246,117 SKANSKA AB 86,454 943,705 1,766,178 SMC CORP/JAPAN 14,400 2, 048,270 7,909,850 SUMITOMO HEAVY INDUSTRIES LTD 32,000 510,827 728,144 SYDNEY AIRPORT 342,458 1,078,461 1,277,235 CORP 33,300 682,634 846,592 TAISEI CORP 45,900 818,242 1,586,341 TAIWAN CEMENT CORP 1,165,764 713,826 1,704,455 TAV HAVALIMANLARI HOLDING AS 12,110 64,110 24,684 PLC 800,410 2,264,725 1,312,843 TECK RESOURCES LTD 125,216 2,476,144 1,445,373 THK CO LTD 34,600 708,209 811,124 TOTO LTD 29,200 569,555 1,281,777 VINCI SA 126,784 5,580,678 11,914,875

Page 13 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Construction & Machinery WEG SA 201,110 761,065 2,368,933 WHEATON PRECIOUS METALS CORP 105,714 2,343,851 5,651,819 YAMANA GOLD INC 161,336 869,899 1,000,495 YASKAWA ELECTRIC CORP 44,200 340,371 1,590,108 Construction & Machinery Total 35,108,599 $ 198,372,892 $ 308,328,380

Consumer Goods ABC‐MART INC 8,000 276,542 420,952 ADIDAS AG 46,310 2,869,310 14,100,880 AEON CO LTD 167,662 3,265,070 4,156,569 ALIBABA HEALTH INFORMATION TEC 872,000 825,493 2,106,261 AMOREPACIFIC CORP 10,027 844,483 1,342,318 AMOREPACIFIC GROUP 9,020 349,007 387,255 ANTA SPORTS PRODUCTS LTD 238,000 724,496 2,350,780 ASTRA INTERNATIONAL TBK PT 5,148,600 992,093 1,803,127 ATACADAO SA 99,717 555,319 355,360 INC 43,887 660,094 2,726,047 BEIERSDORF AG 27,075 2,114,355 3,134,418 BGF RETAIL CO LTD 2,456 335,844 263,608 BIDVEST GROUP LTD/THE 99,265 1,081,168 797,518 PLC 555,282 17,903,574 18,829,007 GROUP PLC 96,374 712,518 1,863,982 CANADIAN TIRE CORP LTD 13,827 898,069 1,448,017 CANON INC 236,400 7,429,663 4,083,972 CHICONY ELECTRONICS CO LTD 144,201 285,515 434,940 CHINA TOURISM GROUP DUTY FREE 43,700 487,958 1,326,020 CIE FINANCIERE RICHEMONT SA 122,415 2,930,828 8,124,294 CLICKS GROUP LTD 45,550 728,642 618,402 COSMOS PHARMACEUTICAL CORP 1,600 229,795 281,390 COWAY CO LTD 13,495 399,113 906,559 CP ALL PCL 1,444,400 1,332,317 2,947,045 DOLLARAMA INC 73,314 845,120 2,865,151 ECLAT TEXTILE CO LTD 55,161 486,801 728,487 ELECTROLUX AB 57,288 654,716 1,244,734 E‐MART INC 6,297 1,501,974 636,114 EMBOTELLADORA ANDINA SA 62,818 409,664 134,129 ESSITY AB 149,234 1,624,085 5,149,252 FALABELLA SA 172,423 1,528,980 544,678 FAR EASTERN NEW CENTURY CORP 944,583 686,165 851,498 CO LTD 14,146 1,607,574 8,441,312 FENG TAY ENTERPRISE CO LTD 105,217 405,707 611,404 FF GROUP 6,180 178,190 35,477 HOLDINGS CORP 10,002 453,492 292,171 FORMOSA TAFFETA CO LTD 213,000 217,350 229,758 FUJIFILM HOLDINGS CORP 83,552 2,802,152 3,975,703 GILDAN ACTIVEWEAR INC 50,956 349, 788 989,046

Page 14 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Consumer Goods GOME RETAIL HOLDINGS LTD 3,037,300 917,073 435,011 APPLIANCES INC O 94,900 733,814 754,515 GS RETAIL CO LTD 3,606 171,954 100,023 ELECTRONICS GROUP CO LTD 243,000 234,627 832,455 HANWHA CORP 13,585 691,488 314,494 HENKEL AG & CO KGAA 72,991 4,139,985 7,096,071 HENNES & MAURITZ AB 188,250 4,173,336 3,009,835 HERMES INTERNATIONAL 8,032 3,759,485 6,910,463 HOME PRODUCT CENTER PCL 1,940,669 873,918 929,102 HOSHIZAKI CORP 17,000 1,458,953 1,300,108 HOTAI MOTOR CO LTD 76,000 401,732 1,546,342 CO LTD 6,928 630,004 410,000 HYUNDAI DEPARTMENT STORE CO LT 80 8,731 3,616 PLC 242,920 6,355,531 4,075,479 INDUSTRIA DE DISENO TEXTIL SA 263,445 2,672,562 7,419,829 ISETAN MITSUKOSHI HOLDINGS LTD 82,818 1,261,155 456,087 CORP 296,800 1,854,874 7,622,564 JARDINE CYCLE & CARRIAGE LTD 23,608 546,409 329,046 JD SPORTS FASHION PLC 100,307 1,019,660 974,793 JOLLIBEE FOODS CORP 112,520 221,371 313,529 JUMBO SA 62,106 861,189 1,080,711 KAO CORP 117,699 3,541,816 8,955,757 KERING SA 18,572 1,851,900 11,429,875 KIMBERLY‐CLARK DE MEXICO SAB D 448,300 697,705 720,197 500,114 2,058,167 1,810,004 KOSE CORP 15,500 1,632,168 1,816,823 LAWSON INC 9,200 464,581 453,732 LG ELECTRONICS INC 19,620 1,292,447 1,390,693 LG HOUSEHOLD & HEALTH CARE LTD 2,982 767,960 3,132,940 LI NING CO LTD 431,000 809,515 1,824,068 LION CORP 59,700 1,020,226 1,264,427 LOJAS RENNER SA 164,225 680,527 1,301,311 L'OREAL SA 63,344 6,417,437 20,976,908 LOTTE SHOPPING CO LTD 2,777 1,113,741 177,668 LPP SA 470 1,017,233 920,514 LVMH MOET HENNESSY LOUIS VUITT 66,130 5,940,322 31,065,835 MAGAZINE LUIZA SA 180,230 1,064,395 3,062,586 CORP 303,000 1,400,071 1,827,515 GROUP CO LTD 48,900 642,234 893,199 MCDONALD'S HOLDINGS CO JAPAN L 28,900 960,948 1,417,134 MITSUBISHI CORP 298,754 5,429,726 7,078,310 MITSUI & CO LTD 405,165 4,559,865 7,312,799 MONCLER SPA 45,322 2,080,048 1,758,882 PLC 103,396 2,217,635 2,022,639 MR PRICE GROUP LTD 69,426 830,981 474,881 NATURA & CO HOLDING SA 170,443 1,403,746 1,532,959

Page 15 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Consumer Goods 35,595 828,022 2,877,706 NIEN MADE ENTERPRISE CO LTD 51,000 464,611 587,496 CO LTD 27,208 6,208,395 14,557,800 NITORI HOLDINGS CO LTD 21,200 447,596 4,434,118 PAN PACIFIC INTERNATIONAL HOLD 96,800 469,885 2,273,835 CORP 469,800 6,311,805 4,332,287 PANDORA A/S 25,616 1,999,656 1,874,909 PICK N PAY STORES LTD 3,278 17,370 8,074 PIGEON CORP 27,100 1,115,965 1,238,149 POLA ORBIS HOLDINGS INC 58,100 1,123,062 1,052,479 POSCO INTERNATIONAL CORP 14,259 520,583 163,248 PRESIDENT CHAIN STORE CORP 168,616 687,687 1,551,602 PUMA SE 18,400 988,494 1,522,339 RAIA DROGASIL SA 55,188 745,211 1,084,465 BENCKISER GROUP PLC 172,815 6,897,631 17,377,437 CO LTD 136,200 2,340,971 1,018,498 RYOHIN KEIKAKU CO LTD 61,000 1,308,079 954,878 CO LTD 192,687 1,790,203 7,704,887 SARTORIUS AG 7,999 1,170,189 3,396,073 SEB SA 7,445 960,266 1,309,756 SEIKO CORP 73,200 1,096,659 873,886 SHANGHAI M&G STATIONERY INC 81,000 544,783 821,249 SHANGHAI PHARMACEUTICALS HOLDI 160,700 289,825 286,559 SHARP CORP/JAPAN 61,100 1,245,436 758,817 SHENZHOU INTERNATIONAL GROUP H 206,000 1,092,729 3,322,516 SHIMAMURA CO LTD 6,516 527,261 537,649 INC 2,124 671,931 362,970 CO LTD 94,400 1,544,788 5,493,351 SIME DARBY BHD 781,335 1,451,777 410,785 SM INVESTMENTS CORP 70,525 384,087 1,236,388 CORP 300,700 9,891,850 23,560,906 SUMITOMO CORP 266,638 2,573,027 3,456,023 SUN ART RETAIL GROUP LTD 714,500 1,009,628 931,137 SUNDRUG CO LTD 24,400 929,039 907,709 SUNING.COM CO LTD 427,893 611, 487 614,861 SWATCH GROUP AG/THE 20,257 2,060,522 1,889,098 LTD 53,640 894,491 841,689 TSUSHO CORP 50,300 867,703 1,465,670 TSURUHA HOLDINGS INC 9,800 1,133,679 1,308,577 CORP 102,200 1,128,408 4,446,705 INDONESIA TBK PT 1,830,500 591,166 1,033,886 UNILEVER NV 354,933 10,117,824 20,591,628 UNILEVER PLC 271,373 6,931,364 16,205,628 UNITED TRACTORS TBK PT 473,277 641,313 747,498 USS CO LTD 63,500 517,470 1,072,455 WAL‐MART DE MEXICO SAB DE CV 1,357,427 2,499,918 3,258,048

Page 16 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Consumer Goods WELCIA HOLDINGS CO LTD 25,600 744,906 1,094,781 WESFARMERS LTD 265,600 5,663,832 9,334,091 YAMADA HOLDINGS CO LTD 135,300 579,726 725,972 YUM CHINA HOLDINGS INC 91,619 2,397,693 5,287,332 ZHONGSHENG GROUP HOLDINGS LTD 171,500 550,569 1,071,024 Consumer Goods Total 32,151,631 $ 242,446,841 $ 445,342,288

Energy & Utilities ABOITIZ POWER CORP 389,100 285,980 213,865 ADARO ENERGY TBK PT 4,066,500 980,348 302,983 AGL ENERGY LTD 151,555 1,400,807 1,658,821 ALGONQUIN POWER & UTIL CORP 167,895 2,308,977 2,329,745 ALTAGAS LTD 71,963 1,922,276 931,744 LTD 31,200 203,343 277,739 AMPOL LTD 119,383 2,142,127 2,297,298 245,539 7,119,150 6,024,937 65,280 790,441 938,747 APA GROUP 298,839 1,689,094 2,305,097 ATCO LTD 22,550 1,014,224 687,775 AUSNET SERVICES 691,908 804,825 933,854 BEIJING ENTERPRISES HOLDINGS L 149,000 701,942 473,907 BHP GROUP PLC 520,937 7,382,654 11,946,927 BP PLC 4,768,728 37,591,008 16,869,403 BROTHER INDUSTRIES LTD 39,900 444,561 660,328 CANADIAN NATURAL RESOURCES LTD 275,257 5,019,872 5,433,524 CANADIAN UTILITIES LTD 38,346 826,205 963,543 COMPUTER CO LTD 45,900 699,992 739,715 CENOVUS ENERGY INC 220,243 3,414,970 1,041,250 CENTRAIS ELETRICAS BRASILEIRAS 107,658 1,048,086 701,493 CEZ AS 45,278 1,785,552 934,583 CHINA EVERBRIGHT ENVIRONMENT G 977,074 778,846 590,015 CHINA GAS HOLDINGS LTD 594,400 781,692 1,629,775 CHINA LONGYUAN POWER GROUP COR 797,100 821,686 502,935 CHINA NATIONAL NUCLEAR POWER C 923,200 755,068 627,606 CHINA OILFIELD SERVICES LTD 461,921 911,037 362,973 CHINA PETROLEUM & CHEMICAL COR 5,743,399 3,780,068 2,757,720 CHINA POWER INTERNATIONAL DEVE 1,119,000 217,811 216,576 CHINA RESOURCES GAS GROUP LTD 240,000 454,986 1,127,204 CHINA RESOURCES POWER HOLDINGS 557,200 1,163,758 661,438 CO LTD 887,782 2,821,570 1,482,281 CO LTD 284,450 754,165 800,882 CO INC 148,700 2,999,064 1,836,227 CHUGOKU ELECTRIC POWER CO INC/ 46,700 999,273 568,970 CIA ENERGETICA DE MINAS GERAIS 283,302 1,539,535 543,789 CLP HOLDINGS LTD 394,000 2,746,614 3,871,293 CNOOC LTD 4,489,604 4, 868,776 5,109,360

Page 17 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Energy & Utilities COLBUN SA 2,303,068 453,000 356,342 CONTEMPORARY AMPEREX TECHNOLOG 38,600 492,684 1,161,976 COSAN SA 38,591 689,719 585,629 DCC PLC 20,557 1,900,638 1,824,343 DELTA ELECTRONICS INC 487,596 1,405,817 3,140,795 DIALOG GROUP BHD 1,582,008 1,084,076 1,363,440 DISCO CORP 7,000 1,283,185 1,632,420 E.ON SE 574,511 11,205,623 6,809,027 ECOPETROL SA 2,255,946 3,187,547 1,317,479 EDP ‐ ENERGIAS DE PORTUGAL SA 650,019 2,187,052 3,297,689 ELECTRIC POWER DEVELOPMENT CO 34,946 926,992 526,933 ELECTRICITE DE SA 133,290 5,129,796 1,403,111 ELIA GROUP SA/NV 6,633 778,198 714,740 EMERA INC 62,485 2,498,668 2,553,687 EMPRESAS COPEC SA 92,036 1,549,426 676,531 ENAGAS SA 41,474 1,044,226 1,016,321 ENBRIDGE INC 475,765 14,449,425 15,237,479 ENDESA SA 8 2,739 1,662,270 2,298,648 ENEL AMERICAS SA 10,840,285 2,273,132 1,563,627 ENEL CHILE SA 8,240,981 1,347,122 635,417 ENEL SPA 1,999,912 12,420,694 18,151,330 INC 694,612 3,453,733 2,722,248 ENERGISA SA 46,032 498,624 364,587 ENERGY ABSOLUTE PCL 355,200 437,091 479,345 ENGIE BRASIL ENERGIA SA 61,750 683,606 479,849 ENGIE SA 452,523 11,965,917 6,307,626 ENI SPA 592,157 12,520,812 5,523,883 ENN ENERGY HOLDINGS LTD 224,000 631,928 2,485,629 EQUATORIAL ENERGIA SA 290,830 670,559 1,229,927 EQUINOR ASA 264,086 6,015,720 4,309,124 EXXARO RESOURCES LTD 37,584 688,872 304,333 53,914 2,867,839 5,324,598 FORMOSA PETROCHEMICAL CORP 310,270 755,175 867,104 INC 107,890 3,095,173 4,319,906 FORTUM OYJ 129,547 2,147,812 2,744,616 CO LTD 31,600 416,937 987,826 GALP ENERGIA SGPS SA 153,821 1,907,610 1,650,509 PJSC 2,483,004 17,624,617 6,959,179 PLC 2,414,260 11,996,245 5,468,868 GLOBAL POWER SYNERGY PCL 186,000 536,339 382,489 GRUPA LOTOS SA 16,553 226,980 182,561 HK ELECTRIC INVESTMENTS & HK E 653,000 603,855 664,783 HONG KONG & CHINA GAS CO LTD 2,744,231 1,578,632 3,994,107 HUANENG POWER INTERNATIONAL IN 962,000 822,399 400,929 HYDRO ONE LIMITED 86,107 1,661,780 1,784,327 HOLDI 1,854 671,814 352,727

Page 18 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Energy & Utilities IBERDROLA SA 1,458,098 11,658,082 18,397,220 IDEMITSU KOSAN CO LTD 43,479 1,451,759 957,772 IMPERIAL OIL LTD 44,295 1,105,892 731,253 INFRAESTRUCTURA ENERGETICA NOV 184,429 817,515 540,074 CORP 246,000 2,714,986 1,563,061 INTER PIPELINE LTD 86,488 2,388,710 914,033 INTER RAO UES PJSC 11,146,505 658,070 782,521 INTERCONEXION ELECTRICA SA ESP 113,368 753,758 633,050 KANSAI ELECTRIC POWER CO INC/T 169,209 3,147,982 1,665,842 KEYERA CORP 51,220 1,535,620 936,383 KONINKLIJKE VOPAK NV 15,430 622,078 849,230 KOREA ELECTRIC POWER CORP 46,086 1,608,296 795,322 KOREA GAS CORP 8,482 453,786 168,512 KUNLUN ENERGY CO LTD 994,000 1,017,315 741,317 KYUSHU ELECTRIC POWER CO INC 79,000 1,372,607 699,524 LEGRAND SA 61,854 1,958,483 5,170,803 LG INNOTEK CO LTD 2,888 320,415 352,521 LONGI GREEN ENERGY TECHNOLOGY 175,100 794,915 1,616,433 PJSC 100,671 6,514,770 6,754,833 LUNDIN ENERGY AB 42,344 1,059,169 1,037,864 MAKITA CORP 57,900 451,954 2,675,374 MANILA ELECTRIC CO 169,470 696,618 940,238 MERCURY NZ LTD 283,035 850,632 992,864 MERIDIAN ENERGY LTD 394,888 764,442 1,355,876 MOL HUNGARIAN OIL & GAS PLC 71,833 943,851 405,689 MOTOR OIL HELLAS CORINTH REFIN 25,922 620,656 364,267 839,258 7,655,450 9,475,245 NATURGY ENERGY GROUP SA 64,589 1,055,415 1,248,283 NESTE OYJ 98,893 1,108,485 5,299,727 PJSC 24,269 1,195,933 3,594,239 OIL SEARCH LTD 368,675 1,910,553 891,577 OMV AG 31,469 962,578 1,025,940 ORIGIN ENERGY LTD 407,552 2,525,989 1,687,868 CO LTD 93,720 1,515,057 1,832,067 PARKLAND CORP 36,401 1,297,956 1,032,845 PERUSAHAAN GAS NEGARA TBK PT 3,195,500 646,471 275,391 PETROBRAS DISTRIBUIDORA SA 154,727 1,010,313 601,884 PETROCHINA CO LTD 5,048,000 5,154,345 1,745,597 PETROLEO BRASILEIRO SA 1,972,202 21,059,692 7,937,958 PETRONAS DAGANGAN BHD 66,800 343,964 330,352 PETRONAS GAS BHD 201,100 723,270 796,579 PGE POLSKA GRUPA ENERGETYCZNA 218,870 1,685,854 360,234 POLSKI KONCERN NAFTOWY ORLEN S 74,329 1,442,093 1,026,024 POLSKIE GORNICTWO NAFTOWE I GA 242,261 209,631 338,771 POWER ASSETS HOLDINGS LTD 374,700 1,953,023 2,146,627 PRYSMIAN SPA 68,313 1,409,599 1,915,023

Page 19 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Energy & Utilities PTT EXPLORATION & PRODUCTION P 406,610 1,296,462 1,162,769 PTT PCL 2,476,360 1,939,905 2,864,454 QATAR ELECTRICITY & WATER CO Q 173,480 893,286 819,516 QATAR FUEL QSC 147,340 835,403 744,591 RATCH GROUP PCL 208,500 479,647 375,163 RED ELECTRICA CORP SA 106,495 1,418,896 2,040,987 RELIANCE INDUSTRIES LTD 559,191 9,080,474 32,377,159 REPSOL SA 359,740 5,933,321 2,848,990 PLC 278,716 8,464,845 17,297,208 OIL CO PJSC 273,502 2,592,140 1,373,037 PLC 1,882,094 48,596,789 27,353,816 RWE AG 133,143 6,089,274 5,302,438 SANTOS LTD 415,593 2,631,544 1,742,685 SCHINDLER HOLDING AG 15,394 1,084,397 4,100,649 SCHNEIDER ELECTRIC SE 119,654 5,671,067 14,846,646 SDIC POWER HOLDINGS CO LTD 29,997 33,123 39,647 SICHUAN CHUANTOU ENERGY CO LTD 180,600 215,149 263,992 SIEMENS GAMESA RENEWABLE ENERG 59,819 1,358,314 1,605,370 SK HOLDINGS CO LTD 7,649 1,354,762 1,377,967 SK INNOVATION CO LTD 12,741 2,068,935 1,555,220 SNAM SPA 511,786 2,277,048 2,625,782 S‐OIL CORP 6,114 492,399 290,800 SPIRAX‐SARCO ENGINEERING PLC 18,358 1,941,106 2,518,267 SSE PLC 264,791 4,087,172 4,463,683 SUNCOR ENERGY INC 349,075 9,864,855 5,607,383 PJSC 2,926,419 3,377,440 1,891,676 PJSC 377,116 1,558,221 2,772,214 TC ENERGY CORP 215,443 6,961,000 10,084,707 TECHTRONIC INDUSTRIES CO LTD 315,000 993,851 3,999,406 TENAGA NASIONAL BHD 787,550 1,808,550 2,053,245 TERNA RETE ELETTRICA NAZIONALE 500,399 1,614,028 3,625,423 THAI OIL PCL 234,155 513,325 312,232 GAS CO LTD 21,400 742,532 942,411 TOHOKU ELECTRIC POWER CO INC 90,400 1,526,980 916,403 TOKYO ELECTRIC POWER CO HOLDIN 359,200 6,987,754 1,056,819 CO LTD 95,055 2,004,646 2,112,284 TOTAL SE 579,052 28,330,802 22,922,321 TUPRAS TURKIYE PETROL RAFINERI 25,869 470,218 281,223 ULTRAPAR PARTICIPACOES SA 191,936 967,363 680,150 UNIPER SE 55,240 1,680,846 1,812,804 VERBUND AG 14,458 591,405 778,097 VESTAS WIND SYSTEMS A/S 47,001 2,379,837 7,161,165 WOODSIDE PETROLEUM LTD 261,434 5,975,903 3,785,666 XINYI SOLAR HOLDINGS LTD 1,058,000 511,241 1,336,467 YANZHOU COAL MINING CO LTD 562,000 410,385 432,913

Page 20 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Energy & Utilities YPF SA 10,811 169,895 60,325 Energy & Utilities Total 121,169,549 $ 549,674,414 $ 508,074,318

Food & Beverage A2 MILK CO LTD/THE 185,961 1,484,385 2,336,595 AGUAS ANDINAS SA 651,321 381,540 195,673 CO INC 98,400 1,329,440 1,833,546 ALIMENTATION COUCHE‐TARD INC 213,429 2,037,633 6,973,155 AMBEV SA 1,159,282 4,611,960 2,601,353 ANADOLU EFES BIRACILIK VE MALT 61,418 629,392 162,162 ANHEUSER‐BUSCH INBEV SA/NV 177,993 6,211,681 10,389,156 ANHUI GUJING DISTILLERY CO LTD 45,800 481,957 581,501 ARCA CONTINENTAL SAB DE CV 137,105 615,088 625,386 ASAHI GROUP HOLDINGS LTD 93,300 1,368,092 3,266,754 PLC 78,053 1,286,839 2,138,255 BARRY CALLEBAUT AG 883 1,374,540 1,961,242 BEIJING ENTERPRISES WATER GROU 1,128,000 683,566 443,914 BERLI JUCKER PCL 522,200 838,631 620,818 BID CORP LTD 86,654 1,477,057 1,431,732 BIM BIRLESIK MAGAZALAR AS 139,400 1,001,717 1,285,268 BRF SA 111,577 1,475,573 398,438 CALBEE INC 14,900 544,611 464,374 CARLSBERG AS 27,649 1,870,732 3,893,731 CARLSBERG BREWERY MALAYSIA BHD 33,800 217,342 177,053 CARREFOUR SA 150,652 6,508,423 2,425,119 CASINO GUICHARD PERRACHON SA 3,970 342,358 103,267 CENCOSUD SA 461,127 1,131,953 683,750 CHAROEN POKPHAND FOODS PCL 877,100 407,330 922,967 CHINA HUISHAN DAIRY HOLDINGS C 1,457,000 345,955 2 CHINA MENGNIU DAIRY CO LTD 732,000 841,471 3,598,537 CHINA RESOURCES BEER HOLDINGS 352,000 943,416 2,289,091 CHOCOLADEFABRIKEN LINDT & SPRU 287 1,655,265 4,774,846 CIA BRASILEIRA DE DISTRIBUICAO 39,203 780,128 453,851 CIA CERVECERIAS UNIDAS SA 37,568 438,251 247,578 CIA DE SANEAMENTO BASICO DO ES 91,947 654,916 800,319 CJ CHEILJEDANG CORP 2,273 412,250 778,779 CJ CORP 4,028 288,839 274,660 COCA‐COLA AMATIL LTD 97,570 606,854 656,637 COCA‐COLA BOTTLERS JAPAN HOLDI 36,400 948,940 606,867 COCA‐COLA EUROPEAN PARTNERS PL 46,244 1,586,915 1,913,571 COCA‐COLA FEMSA SAB DE CV 121,700 1,034,048 510,466 COCA‐COLA HBC AG 53,420 1,288,391 1,426,243 COLES GROUP LTD 301,138 2,752,460 3,948,588 COLRUYT SA 17,871 529,935 1,132,760 PLC 374,526 2,625,927 6,120,461 DAIRY FARM INTERNATIONAL HOLDI 94,400 809, 909 394,592

Page 21 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Food & Beverage DANONE SA 149,078 7,499,627 9,823,770 DAVIDE CAMPARI‐MILANO NV 194,086 1,435,666 1,994,351 PLC 559,270 8,606,350 18,792,003 EMPIRE CO LTD 47,814 873,395 1,245,854 FOMENTO ECONOMICO MEXICANO SAB 463,629 1,978,827 2,697,971 FOSHAN HAITIAN FLAVOURING & FO 42,600 496,621 1,138,519 GRUMA SAB DE CV 40,700 427,040 481,292 GRUPO BIMBO SAB DE CV 365,045 723,996 674,181 GS HOLDINGS CORP 4,732 244,177 129,464 GUANGDONG INVESTMENT LTD 788,000 397,832 1,230,273 HEINEKEN HOLDING NV 25,591 1,632,388 2,101,071 HEINEKEN NV 61,581 3,267,693 5,712,123 HENAN SHUANGHUI INVESTMENT & D 74,500 357,484 690,137 ICA GRUPPEN AB 26,885 1,066,057 1,322,282 INDOFOOD CBP SUKSES MAKMUR TBK 686,000 453,765 481,675 INDOFOOD SUKSES MAKMUR TBK PT 1,271,500 198,868 665,769 INNER MONGOLIA YILI INDUSTRIAL 110,899 484,343 678,518 ITO EN LTD 11,900 682,756 719,308 J SAINSBURY PLC 353,483 1,867,627 869,918 JARDINE STRATEGIC HOLDINGS LTD 58,300 2,239,962 1,169,498 JBS SA 206,684 890,132 845,438 JERONIMO MARTINS SGPS SA 60,179 931,637 989,962 JG SUMMIT HOLDINGS INC 559,675 562,649 742,232 JIANGSU YANGHE BREWERY JOINT‐S 28,200 475,301 580,431 KERRY GROUP PLC 39,203 841,739 5,157,331 CORP 37,000 348,635 2,009,713 KIRIN HOLDINGS CO LTD 190,700 2,277,839 3,749,441 KOBE BUSSAN CO LTD 12,600 652,732 742,609 KONINKLIJKE AHOLD DELHAIZE NV 271,131 3,319,065 8,177,815 CO LTD 18,448 2,641,222 4,807,923 LOBLAW COMPANIES LTD 48,006 2,069,876 2,483,660 LOTTE CORP 9,558 604,601 241,384 CO LTD 39,300 489,354 857,115 PJSC 85,523 2,180,325 1,254,622 CO LTD 31,264 788,948 2,523,644 METRO AG 52,293 1,192,699 518,580 METRO INC 68,771 806,734 3,109,856 METRO PACIFIC INVESTMENTS CORP 5,257,800 713,805 364,364 MOWI ASA 105,660 1,764,787 2,080,204 NESTLE MALAYSIA BHD 14,600 543,391 487,893 NESTLE SA 714,920 28,782,738 86,192,143 NH FOODS LTD 26,000 728,291 1,178,085 INC 32,243 246,349 532,392 NISSIN FOODS HOLDINGS CO LTD 18,500 502,124 1,849,215 PLC 105,326 1,616,989 3,521,425 ORION CORP/REPUBLIC OF KOREA 7,295 528,988 862,823

Page 22 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Food & Beverage ORKLA ASA 176,912 1,137,428 1,812,747 OSOTSPA PCL 384,800 586,032 479,107 PERNOD RICARD SA 51,805 4,744,149 8,890,713 PPB GROUP BHD 172,320 558,078 744,631 REMGRO LTD 110,744 1,191,232 574,728 REMY COINTREAU SA 6,718 671,911 1,107,943 SAPUTO INC 63,901 917,360 1,595,870 SEVEN & I HOLDINGS CO LTD 180,379 5,808,643 5,839,418 PLC 71,181 1,440,004 2,222,578 SHANXI XINGHUACUN FEN WINE FAC 20,500 458,734 589,807 SHOPRITE HOLDINGS LTD 124,440 914,879 811,665 SIME DARBY PLANTATION BHD 781,335 1,069,929 956,622 SA 20,993 769,372 1,505,390 SPAR GROUP LTD/THE 50,163 688,496 478,675 STANDARD FOODS CORP 124,345 225,676 269,951 SUEZ SA 81,027 2,009,033 1,405,596 SUNTORY BEVERAGE & FOOD LTD 29,100 1,047,232 1,122,344 PLC 2,357,542 10,600,283 6,903,552 THAI UNION GROUP PCL 291,900 182,629 132,245 TIGER BRANDS LTD 48,152 849,366 490,097 TINGYI CAYMAN ISLANDS HOLDING 588,000 1,029,171 1,104,660 TOYO SUISAN KAISHA LTD 26,600 558,906 1,510,038 TREASURY WINE ESTATES LTD 158,775 810,494 1,086,154 TSINGTAO BREWERY CO LTD 90,000 222,304 819,855 UNI‐PRESIDENT CHINA HOLDINGS L 54,000 58,245 49,191 UNI‐PRESIDENT ENTERPRISES CORP 1,026,675 601,133 2,330,370 GROUP PLC 201,267 2,332,595 2,239,971 UNIVERSAL ROBINA CORP 250,900 311,493 713,087 VEOLIA ENVIRONNEMENT SA 137,950 5,014,151 3,332,622 WANT WANT CHINA HOLDINGS LTD 1,630,000 1,370,554 1,118,894 WESTON (GEORGE) LTD 19,914 1,469,396 1,440,191 PLC 44,947 845,087 1,521,997 WILMAR INTERNATIONAL LTD 578,900 1,549,320 1,856,431 WM MORRISON SUPERMARKETS PLC 603,523 2,929,102 1,553,952 WOOLWORTHS GROUP LTD 301,945 4,528,394 8,903,108 WOOLWORTHS HOLDINGS LTD/SOUTH 265,589 743,171 498,374 CO LTD 61,399 1,033,135 2,149,699 NV 40,044 1,036,556 1,465,610 YAKULT HONSHA CO LTD 29,600 965,179 1,688,717 YAMAZAKI BAKING CO LTD 38,900 431,871 633,141 YIHAI INTERNATIONAL HOLDING LT 116,000 656,430 1,823,036 Food & Beverage Total 35,109,206 $ 212,658,287 $ 340,094,111

Page 23 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Health & Pharmaceutical AIER EYE HOSPITAL GROUP CO LTD 106,073 409,853 804,201 ALCON INC 113,173 4,184,807 6,455,178 ALFRESA HOLDINGS CORP 47,200 527,278 948,050 ALTEOGEN INC 3,237 569,691 569,520 AMBU A/S 37,468 1,249,023 1,103,939 ASAHI INTECC CO LTD 45,600 1,068,430 1,352,369 ASPEN PHARMACARE HOLDINGS LTD 91,389 1,004,440 732,946 INC 440,335 3,303,590 6,911,572 ASTRAZENECA PLC 307,639 14,871,219 34,353,564 BANGKOK DUSIT MEDICAL SERVICES 2,419,800 1,608,338 1,617,217 BAUSCH HEALTH COS INC 78,129 3,457,080 1,298,202 BAYER AG 233,468 13,271,286 15,507,660 BIOMERIEUX 10,263 937,482 1,558,802 BUMRUNGRAD HOSPITAL PCL 180,600 734,658 641,218 CANOPY GROWTH CORP 50,566 2,164,293 834,779 CARL ZEISS MEDITEC AG 11,639 1,192,188 1,314,016 HEALTHCARE CO LTD 13,053 1,078,224 1,099,929 CELLTRION INC 22, 373 599,966 5,593,723 CHANGCHUN HIGH & NEW TECHNOLOG 24,400 1,138,125 1,664,445 CHINA MEDICAL SYSTEM HOLDINGS 509,000 885,858 574,666 CHINA TRADITIONAL CHINESE MEDI 596,000 547,825 254,545 CHONGQING ZHIFEI BIOLOGICAL PR 41,100 264,096 810,332 CHUGAI PHARMACEUTICAL CO LTD 160,992 1,215,464 7,167,177 COCHLEAR LTD 12,859 292,938 1,827,322 COLOPLAST A/S 28,825 1,719,152 4,901,683 CSPC PHARMACEUTICAL GROUP LTD 1,425,600 1,076,709 3,167,530 CO LTD 137,306 3,459,122 12,231,881 DEMANT A/S 15,439 377,423 461,832 DIASORIN SPA 6,403 1,344,179 1,160,137 DR REDDY'S LABORATORIES LTD 178,142 6,800,832 10,362,520 CO LTD 62,600 1,922,594 5,469,272 ESSILORLUXOTTICA SA 68,629 4,340,651 9,200,815 SE 2,690 1,178,021 2,160,608 FISHER & PAYKEL HEALTHCARE COR 143,811 1,524,979 3,581,888 FRESENIUS MEDICAL CARE AG & CO 52,255 2,258,314 4,440,850 FRESENIUS SE & CO KGAA 96, 834 4,295,708 4,493,375 GALAPAGOS NV 10,630 2,024,790 1,448,005 GENSCRIPT BIOTECH CORP 194,000 725,570 374,976 GLAXOSMITHKLINE PLC 1,211,387 24,264,639 23,875,643 GN STORE NORD A/S 22,361 1,206,762 1,623,374 GRIFOLS SA 74,264 859,458 2,017,012 HANMI PHARM CO LTD 1,729 554,165 446,114 HENGAN INTERNATIONAL GROUP CO 160,000 694,053 1,261,395 PLC 40,299 1,208,667 1,279,352 HISAMITSU PHARMACEUTICAL CO IN 17,000 737,603 783,912 HYPERA SA 103,348 1,020,822 596,249

Page 24 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Health & Pharmaceutical IHH HEALTHCARE BHD 642,700 695,237 827,001 IPSEN SA 10,123 1,281,802 1,050,853 CO LT 64,440 483,390 891,846 KALBE FARMA TBK PT 6,322,500 530,541 685,982 KOBAYASHI PHARMACEUTICAL CO LT 15,900 1,412,965 1,415,399 KONINKLIJKE PHILIPS NV 223,921 5,891,863 10,614,186 KYOWA KIRIN CO LTD 47,000 770,651 1,215,277 LIFE HEALTHCARE GROUP HOLDINGS 402,055 971,650 392,532 LONZA GROUP AG 18,175 1,916,252 11,311,311 MEDIPAL HOLDINGS CORP 44,500 678,018 850,596 MERCK KGAA 31,175 1,812,141 4,237,297 NIPPON SHINYAKU CO LTD 15,800 1,327,142 1,303,692 NOTRE DAME INTERMEDICA PARTICI 124,849 1,630,157 1,686,380 NOVARTIS AG 516,001 23,200,970 44,720,660 NOVO NORDISK A/S 430,855 6,671,247 28,597,229 OLYMPUS CORP 260,400 1,676,607 5,154,223 CO LTD 92,500 1,025,328 2,790,396 ORION OYJ 27,645 401,366 1,299,999 ORPEA 3,983 469,357 479,443 OTSUKA HOLDINGS CO LTD 94,500 2,568,328 4,149,998 PEPTIDREAM INC 22,900 1,150,311 929,648 QIAGEN NV 59,849 1,581,454 3,047,008 RAMSAY HEALTH CARE LTD 39,007 721,707 1,876,827 RECORDATI INDUSTRIA CHIMICA E 29,911 1,205,852 1,633,710 RICHTER GEDEON NYRT 35,689 719,579 874,306 ROCHE HOLDING AG 168,004 22,804,644 58,902,618 RYMAN HEALTHCARE LTD 146,868 1,033,809 1,334,163 SANOFI 267,449 18,397,627 27,146,147 SANTEN PHARMACEUTICAL CO LTD 101,400 1,726,007 1,932,476 SARTORIUS STEDIM BIOTECH 5,476 556,072 1,963,397 SHANDONG WEIGAO GROUP MEDICAL 452,000 426,402 1,055,618 SHANGHAI FOSUN PHARMACEUTICAL 143,000 526,517 604,279 SHENZHEN MINDRAY BIO‐MEDICAL E 15,200 527,096 759,357 SHIJIAZHUANG YILING PHARMACEUT 43,700 205,268 182,200 SHIMADZU CORP 56,700 576,908 1,692,258 & CO LTD 73,282 1,883,511 4,065,425 SINO BIOPHARMACEUTICAL LTD 2,655,000 551,428 3,066,037 SINOPHARM GROUP CO LTD 277,200 1,062,909 682,435 SMITH & NEPHEW PLC 199,089 2,286,558 4,055,866 SONIC HEALTHCARE LTD 109,198 882,688 2,588,274 SONOVA HOLDING AG 12,298 674,185 2,883,123 SSY GROUP LTD 480,000 514,060 305,955 STRAUMANN HOLDING AG 2,072 1,216,302 2,045,193 SUMITOMO DAINIPPON PHARMA CO L 46,300 931,662 585,927 SUZUKEN CO LTD/AICHI JAPAN 12,712 354,058 472,302 SYSMEX CORP 35,900 850,853 3,133,823

Page 25 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Health & Pharmaceutical TAISHO PHARMACEUTICAL HOLDINGS 8,230 576,154 506,008 TAKEDA PHARMACEUTICAL CO LTD 370,688 15,252,190 13,838,972 CORP 154,200 1,935,749 6,267,170 TEVA PHARMACEUTICAL INDUSTRIES 239,075 11,437,794 2,359,670 TOP GLOVE CORP BHD 351,900 474,227 2,220,125 UCB SA 27,644 1,437,995 3,290,215 VIFOR PHARMA AG 10,571 1,462,211 1,566,661 WALVAX BIOTECHNOLOGY CO LTD 47,100 183,763 436,315 APPTEC CO LTD 57,824 494,595 927,151 CORP 12,520 248,054 706,154 CO LTD 32,100 486,368 541,853 Health & Pharmaceutical Total 25,800,986 $ 272,941,944 $ 474,486,761

Industrial Commodities ALROSA PJSC 793,100 1,026,794 702,936 ALUMINUM CORP OF CHINA LTD 2,150,197 1,505,813 751,645 ANGLO AMERICAN PLATINUM LTD 16,709 2,073,225 1,246,839 ANGLOGOLD ASHANTI LTD 93,607 3,240,500 2,733,189 ARCELORMITTAL SA 136,959 3,961,628 1,736,566 BAOSHAN IRON & STEEL CO LTD 953,193 768,365 686,931 BAYERISCHE MOTOREN WERKE AG 7,964 370,034 448,606 BHP GROUP LTD 692,402 11,450,108 19,412,418 BLUESCOPE STEEL LTD 101,740 870,931 954,819 BOLIDEN AB 67,129 868,502 2,007,266 BRASKEM SA 45,685 297,511 177,297 PLC 77,089 727,553 2,499,948 CHINA HONGQIAO GROUP LTD 148,500 92,150 95,805 CO LTD 1,197,000 773,655 486,513 CHINA STEEL CORP 2,393,775 1,885,410 1,623,507 CIA DE MINAS BUENAVENTURA SAA 51,889 1,171,073 730,597 CIA SIDERURGICA NACIONAL SA 108,313 645,915 300,305 EMPRESAS CMPC SA 186,998 678,387 389,393 EREGLI DEMIR VE CELIK FABRIKAL 295,125 344,115 349,706 EVOLUTION MINING LTD 407,305 1,649,581 1,671,784 PLC 146,163 1,097,516 634,475 FORTESCUE METALS GROUP LTD 413,497 1,904,947 5,327,066 FUCHS PETROLUB SE 22,710 979,176 1,076,080 GERDAU SA 142,365 1,216,956 495,406 GOLD FIELDS LTD 226,782 2,476,070 2,932,554 GRUPO MEXICO SAB DE CV 795,954 1,037,249 2,123,902 HITACHI METALS LTD 9,800 108,575 147,030 HYUNDAI MOTOR CO 16,334 700,315 1,208,762 CO 15,060 778,840 318,214 IMPALA PLATINUM HOLDINGS LTD 171,083 1,338,330 1,579,119 INDAH KIAT PULP & PAPER CORP T 547,300 737,243 349,523

Page 26 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Industrial Commodities INDUSTRIAS PENOLES SAB DE CV 41,925 1,252,795 699,293 INNER MONGOLIA BAOTOU STEEL UN 2,055,700 500,487 347,875 JFE HOLDINGS INC 122,000 2,941,134 923,815 JIANGXI COPPER CO LTD 387,000 584,506 456,401 KGHM POLSKA MIEDZ SA 33,422 773,719 1,246,760 KOREA ZINC CO LTD 2,474 276,017 829,943 KUMBA IRON ORE LTD 23,018 510,799 721,467 LG CHEM LTD 2,021 333,658 637,996 LOJAS AMERICANAS SA 203,206 859,769 1,195,329 MAGNITOGORSK IRON & STEEL WORK 839,916 586,188 425,794 PLC 1,174,493 3,760,253 1,600,894 CORP 22,500 611,273 472,724 MMC PJSC 16,161 2,558,223 4,200,034 MONDI PLC 12,125 247,122 230,143 NEWCREST MINING LTD 180,422 3,358,246 4,264,458 NINE DRAGONS PAPER HOLDINGS LT 504,000 761,971 559,267 NIPPON ST EEL CORP 154,402 3,899,548 1,520,797 NORSK HYDRO ASA 331,041 2,044,211 1,063,924 NORTHAM PLATINUM LTD 60,222 444,317 568,939 NORTHERN STAR RESOURCES LTD 173,491 1,704,758 1,751,367 PJSC 287,843 705,341 599,464 OJI HOLDINGS CORP 254,500 1,562,042 1,149,564 POLYMETAL INTERNATIONAL PLC 46,285 707,520 1,231,181 PJSC 5,482 643,888 1,331,595 AUTOMOBIL HOLDING SE 35,974 2,530,965 2,207,085 POSCO 18,694 6,658,021 2,903,480 RIO TINTO LTD 76,800 3,090,193 5,566,149 PAO 75,518 1,102,449 947,357 SHANDONG GOLD MINING CO LTD 130,620 496,105 552,412 SHANDONG NANSHAN ALUMINUM CO L 1,852,600 573,230 718,900 SIBANYE STILLWATER LTD 631,357 1,383,676 1,911,447 PLC 88,107 1,525,412 1,653,952 GROUP PLC 59,376 2,321,858 2,107,598 SOCIEDAD QUIMICA Y MINERA DE C 27,427 1,020,904 859, 443 SOUTH32 LTD 1,253,911 2,316,386 1,947,393 SOUTHERN COPPER CORP 51,080 1,675,553 2,456,948 STORA ENSO OYJ 129,640 1,376,465 1,911,680 SUMITOMO METAL MINING CO LTD 55,917 1,146,487 1,706,854 SUZANO SA 121,241 782,107 1,109,444 SVENSKA CELLULOSA AB SCA 123,611 1,539,338 1,597,278 TATA STEEL LTD 970,300 3,757,127 5,297,838 TELEFONICA BRASIL SA 120,345 1,690,182 1,049,473 THYSSENKRUPP AG 97,154 1,721,254 699,937 UPM‐KYMMENE OYJ 130,173 2,358,858 3,955,839 VALE SA 876,498 13,614,212 9,535,245 VEDANTA LTD 824,265 4,669,100 5,778,098

Page 27 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Industrial Commodities VOESTALPINE AG 24,229 1,050,755 603,005 VOLKSWAGEN AG 44,540 5,549,124 7,422,309 ZIJIN MINING GROUP CO LTD 1,838,250 664,967 1,254,730 Industrial Commodities Total 29,023,003 $ 143,018,980 $ 148,981,119

Industrial AIRTAC INTERNATIONAL GROUP 30,000 250,550 665,610 SEIKI CO LTD 29,300 1,044,279 1,007,105 ALFA LAVAL AB 82,421 454,644 2,020,162 ALSTOM SA 45,024 1,408,538 2,511,399 BAYERISCHE MOTOREN WERKE AG 79,067 5,505,714 5,687,795 CORP 142,800 2,964,374 4,525,916 BRILLIANCE CHINA AUTOMOTIVE HO 810,000 825,283 725,328 BYD CO LTD 200,700 849,929 2,086,935 CATCHER TECHNOLOGY CO LTD 190,293 965,600 1,300,334 CHENG SHIN RUBBER INDUSTRY CO 478,763 532,548 587,409 CIE GENERALE DES ETABLISSEMENT 42,859 2,212,059 4,849,958 CONTINENTAL AG 28,514 3,092,469 3,110,040 CRRC CORP LTD 1,377,497 1,790,833 834,727 DAEWOO & MARINE E 15,082 501,686 281,224 DAIMLER AG 204,322 9,305,721 10,420,685 CORP 106,700 2,513,267 4,484,529 DONGFENG MOTOR GROUP CO LTD 754,125 425,990 523,499 FAURECIA SE 23,440 1,570,856 1,023,487 FERRARI NV 28,514 1,280,355 5,565,335 FIAT AUTOMOBILES NV 260,609 2,077,364 2,877,075 FORD OTOMOTIV SANAYI AS 18,749 172,523 215,286 FUYAO GLASS INDUSTRY GROUP CO 145,000 478,485 613,016 GEELY AUTOMOBILE HOLDINGS LTD 1,209,000 533,926 2,555,231 GREAT WALL MOTOR CO LTD 917,247 660,220 995,342 GT CAPITAL HOLDINGS INC 31,800 887,798 262,349 GUANGZHOU AUTOMOBILE GROUP CO 824,618 489,567 708,626 & TECHNOLOGY CO L 21,073 509,221 523,322 HANON SYSTEMS 50,400 365,263 547,319 HARTALEGA HOLDINGS BHD 352,400 540,560 1,397,587 LTD 76,000 466,244 511,707 HIWIN TECHNOLOGIES CORP 66,429 506,238 729,006 HLB INC 8,610 956,651 629,134 MOTOR CO LTD 381,400 9,600,391 9,815,084 CO LTD 17,646 1,857,175 3,327,473 HYUNDAI MOTOR CO 33,353 2,760,115 4,955,642 MOTORS LTD 136,200 1,259,285 1,347,294 JSR CORP 51,948 1,041,837 1,107,101 JTEKT CORP 64,700 820,702 499,687 MOTORS CORP 52,000 1,230,306 1,858,238 KNORR‐BREMSE AG 13,607 1, 352,410 1,732,780

Page 28 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Industrial Manufacturing KOITO MANUFACTURING CO LTD 26,000 400,401 1,260,220 KOREA SHIPBUILDING & OFFSHORE 10,267 2,649,358 745,025 LARGAN PRECISION CO LTD 23,937 394,018 2,761,507 MAGNA INTL INC 55,359 1,178,094 2,698,802 MAHINDRA & MAHINDRA LTD 845,628 6,474,114 7,071,404 MARUICHI STEEL TUBE LTD 31,800 789,132 852,538 MOTOR CORP 102,460 1,556,164 657,012 MISUMI GROUP INC 71,000 1,386,500 1,862,624 CORP 152,899 2,220,876 367,667 NGK INSULATORS LTD 35,800 311,917 508,752 NGK SPARK PLUG CO LTD 48,000 458,659 826,064 CORP 67,482 1,306,149 529,445 NIO INC 216,322 1,880,090 4,116,608 NISSAN MOTOR CO LTD 549,745 5,194,185 2,236,927 NSK LTD 76,900 394,918 589,558 ORICA LTD 106,767 1,412,678 1,372,317 PEUGEOT SA 135,799 2,335,751 2,333,815 POSCO CHEMICAL CO LTD 8,233 462,612 616,834 RENAULT SA 42,222 3,086,919 1,203,810 SAIC MOTOR CORP LTD 126,055 499,256 343,144 SAMSUNG HEAVY INDUSTRIES CO LT 94,865 1,482,098 412,075 SIEMENS AG 184,686 15,918,918 25,546,428 SINOTRUK HONG KONG LTD 240,500 501,154 625,288 SKF AB 95,726 1,382,845 1,915,641 CO LTD 40,000 734,246 1,146,683 CORP 147,600 1,139,773 3,065,576 SUMITOMO ELECTRIC INDUSTRIES L 177,300 1,827,716 2,088,243 SUMITOMO RUBBER INDUSTRIES LTD 46,300 461,393 445,776 SUNNY OPTICAL TECHNOLOGY GROUP 167,900 846,104 2,489,205 SUPERMAX CORP BHD 99,500 529,237 528,851 MOTOR CORP 83,200 2,421,344 3,412,106 TATA MOTORS LTD 712,862 8,214,089 6,943,276 TENARIS SA 184,905 1,704,822 1,087,995 CORP 87,480 3,502,245 2,520,170 TOYODA GOSEI CO LTD 18,000 465,496 392,946 TOYOTA INDUSTRIES CORP 26,800 610,469 1,561,828 TOYOTA MOTOR CORP 506,714 20,563,653 33,476,715 SA 60,509 2,491,153 1,852,563 VOLKSWAGEN AG 7,999 1,286,095 1,436,874 AB 354,693 4,147,307 6,797,808 WARTSILA OYJ ABP 113,379 677,901 971,407 CO LTD 537,596 409,804 1,086,270 YANGZIJIANG SHIPBUILDING HOLDI 600,000 584,279 403,795 YOKOHAMA RUBBER CO LTD/THE 25,500 522,026 399,411 ZHUZHOU CRRC TIMES ELECTRIC CO 148,500 623,060 477,107 Industrial Manufacturing Total 16,897,399 $ 173,499,994 $ 223,457,886

Page 29 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Information Technology & Electronics 51JOB INC 6,763 719,592 443,243 58.COM INC 20,021 1,136,396 1,108,363 AAC TECHNOLOGIES HOLDINGS INC 168,500 956,410 1,063,160 ABB LTD 442,660 5,268,814 11,292,021 ACER INC 782,452 1,253,477 622,676 ADEVINTA ASA 57,372 1,077,841 1,077,626 ADVANTECH CO LTD 104,678 208,152 1,082,759 CORP 48,300 1,183,104 2,309,218 ALIBABA GROUP HOLDING LTD 448,681 55,733,364 128,784,907 ASE TECHNOLOGY HOLDING CO LTD 903,596 1,551,262 1,884,705 ASM PACIFIC TECHNOLOGY LTD 58,900 293,001 633,448 ASML HOLDING NV 101,333 6,162,761 38,089,766 ASSA ABLOY AB 244,517 2,483,651 5,669,992 ASUSTEK COMPUTER INC 199,149 1,650,900 1,649,309 ATOS SE 21,260 1,400,861 1,843,378 AU OPTRONICS CORP 2,552,820 2,166,517 909,189 AUTOHOME INC 14,013 593,912 1,124,403 GROUP PLC 13,975 807,348 949,064 B2W CIA DIGITAL 54,373 538,862 1,110,970 BAIDU INC 65,224 12,897,066 8,124,954 BAOZUN INC 5,451 228,144 225,889 BILIBILI INC 26,034 844,491 1,230,107 BLACKBERRY LIMITED 135,154 3,799,171 705,359 BOE TECHNOLOGY GROUP CO LTD 1,364,900 957,858 1,095,138 BYD ELECTRONIC INTERNATIONAL C 260,000 526,907 1,102,043 CAPGEMINI SE 38,564 1,924,055 5,349,991 CD PROJEKT SA 15,125 529,463 1,807,884 CGI INC 57,710 1,733,687 4,058,015 CHECK POINT SOFTWARE TECHNOLOG 30,383 2,736,335 3,836,158 CORP LTD 2,982,000 1,715,895 977,308 COMPAL ELECTRONICS INC 382,826 311,406 241,374 COMPUTERSHARE LTD 109,997 341,174 1,081,119 CONSTELLATION SOFTWARE INC 5,023 1,668,820 5,821,160 CYBERAGENT INC 21,600 1,131,589 1,150,832 CYBERARK SOFTWARE LTD 10,569 1,434,900 1,167,875 DASSAULT SYSTEMES SE 30,260 2,258,435 5,712,504 DOUZONE BIZON CO LTD 5,411 524,563 460,065 FOXCONN INDUSTRIAL INTERNET CO 77,200 148,759 166,005 FOXCONN TECHNOLOGY CO LTD 237,832 1,088,323 423,115 LTD 43,490 2,572,499 5,667,705 GIGADEVICE SEMICONDUCTOR BEIJI 13,160 366,137 383,062 GLOBALWAFERS CO LTD 66,000 534,427 886,253 GLOBANT SA 9,693 900,044 1,721,283 GSX TECHEDU INC 15,396 482,942 1,314,818 103,880 2,407,187 3,085,019 HAMAMATSU PHOTONICS KK 40,000 661,390 1,821,868

Page 30 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Information Technology & Electronics HANGZHOU DIGITAL TEC 210,999 1,065,064 1,151,833 HIROSE ELECTRIC CO LTD 10,077 983,922 1,141,259 HON HAI PRECISION INDUSTRY CO 3,019,849 7,352,521 7,914,605 HOYA CORP 89,728 2,366,588 8,812,458 HUYA INC 30,530 398,355 876,822 ILIAD SA 3,636 470,537 778,377 INFINEON TECHNOLOGIES AG 294,690 2,379,685 8,162,383 INFOSYS LTD 1,795,184 12,043,871 22,619,318 INGENICO GROUP SA 15,831 1,922,410 2,692,285 INNOLUX CORP 2,061,938 2,784,884 640,897 INVENTEC CORP 681,121 329,960 528,109 IQIYI INC 58,668 1,292,418 1,270,162 ITOCHU TECHNO‐SOLUTIONS CORP 19,600 484,396 709,736 JD.COM INC 202,689 6,198,702 15,939,463 JOYY INC 11,487 1,136,055 981,449 KAKAKU.COM INC 43,900 805,210 1,170,308 CORP 12,952 1,499,289 4,437,634 KE HOLDINGS INC 21,912 1, 124,042 1,123,866 KINGDEE INTERNATIONAL SOFTWARE 476,000 523,143 1,213,623 KINGSOFT CORP LTD 167,000 505,350 894,241 HOLDINGS CORP 20,000 500,847 770,428 CORP 72,600 3,148,086 4,167,252 LASERTEC CORP 20,200 1,659,681 1,523,881 GROUP LTD 1,812,000 1,275,332 1,211,094 LG CORP 22,706 1,587,192 1,580,762 LG DISPLAY CO LTD 67,840 2,143,148 833,794 LINE CORP 12,200 513,736 621,246 LITE‐ON TECHNOLOGY CORP 255,898 406,326 404,671 LOGITECH INTERNATIONAL SA 41,448 2,403,269 3,075,746 LUXSHARE PRECISION INDUSTRY CO 164,056 597,237 1,316,316 M3 INC 104,600 550,515 6,056,335 MEDIATEK INC 337,440 3,594,583 6,394,242 MEITUAN DIANPING 844,800 13,429,475 27,861,510 MERCARI INC 18,000 499,762 816,446 MICRO‐STAR INTERNATIONAL CO LT 119,000 317,480 549,546 MINEBEA MITSUMI INC 78,600 1,112,329 1,363,057 MOMO INC 42,566 1,766,219 868,346 MONOTARO CO LTD 28,600 774,659 1,130,030 CO LTD 134,400 2,947,529 7,959,187 NANYA TECHNOLOGY CORP 221,000 569,259 390,910 NASPERS LTD 107,849 4,597,148 19,688,630 NAURA TECHNOLOGY GROUP CO LTD 17,700 322,545 475,887 NAVER CORP 30,960 1,083,952 8,405,256 NCSOFT CORP 4,486 795,991 3,115,541 NEC CORP 56,152 3,266,944 2,959,967 NEMETSCHEK SE 12,628 1,001,024 1,005,824

Page 31 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Information Technology & Electronics NETEASE INC 19,497 4,161,704 9,499,133 CO LTD 125,400 1,440,431 2,936,189 CORP 100,432 1,560,918 8,439,338 NOMURA RESEARCH INSTITUTE LTD 76,761 466,177 2,040,542 NOVATEK MICROELECTRONICS CORP 149,610 583,812 1,223,741 NTT DATA CORP 137,900 1,142,144 1,576,074 OBIC CO LTD 19,200 1,504,568 3,402,027 OMRON CORP 51,700 1,295,549 3,788,099 OPEN TEXT CORPORATION 61,514 942,480 2,793,022 ORACLE CORP JAPAN 11,300 717,433 1,325,588 OTSUKA CORP 27,500 591,696 1,348,484 CORP 2,518 463,441 385,787 PEGATRON CORP 465,445 732,547 991,439 PHISON ELECTRONICS CORP 35,000 211,789 330,419 PINDUODUO INC 62,279 2,514,263 5,539,094 POWERTECH TECHNOLOGY INC 200,486 358,248 590,358 PROSUS NV 112,378 9,333,361 11,276,200 QUANTA COMPUTER INC 469,979 735,578 1,233,352 INC 211,400 1,824,252 1,859,929 REALTEK SEMICONDUCTOR CORP 115,715 309,004 1,498,618 RENESAS ELECTRONICS CORP 185,900 2,243,083 1,169,271 ROHM CO LTD 22,803 2,802,714 1,466,514 PLC/THE 250,996 842,209 2,488,943 SAMSUNG ELECTRO‐MECHANICS CO L 15,735 871,833 1,649,136 SAMSUNG ELECTRONICS CO LTD 1,139,895 14,885,555 51,817,789 SAMSUNG SDS CO LTD 8,400 2,056,746 1,113,731 SAP SE 249,005 14,571,572 41,107,971 SCSK CORP 9,700 474,583 525,041 SEEK LTD 95,567 936,122 1,460,885 SEMICONDUCTOR MANUFACTURING IN 769,900 883,090 2,473,566 SHENZHEN GOODIX TECHNOLOGY CO 10,000 443,782 261,058 SHOPIFY INC 24,912 3,448,815 26,638,126 SILERGY CORP 16,000 863,540 1,016,990 SINA CORP/CHINA 16,305 1,256,511 663,369 SK HYNIX INC 133,769 3,782,015 8, 456,988 SQUARE ENIX HOLDINGS CO LTD 21,300 1,070,242 1,403,998 STMICROELECTRONICS NV 152,987 1,873,206 4,612,543 SUMCO CORP 69,600 1,581,880 943,796 SYNNEX TECHNOLOGY INTERNATIONA 376,347 569,305 560,515 TAIWAN SEMICONDUCTOR MANUFACTU 5,814,002 13,214,910 84,510,740 TDK CORP 29,600 1,753,228 3,073,186 TEAMVIEWER AG 29,351 1,494,135 1,592,593 TELEPERFORMANCE 16,650 2,692,410 5,145,407 TEMENOS AG 14,465 2,148,624 2,342,159 HOLDINGS LTD 1,371,745 10,201,940 93,896,341 TENCENT MUSIC ENTERTAINMENT GR 105,580 1,449,285 1,650,215

Page 32 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Information Technology & Electronics TIS INC 41,600 887,124 831,647 LTD 34,682 2,024,579 8,879,403 TONGCHENG‐ELONG HOLDINGS LTD 257,600 462,595 505,219 INC/JAPAN 30,500 1,146,034 1,886,746 TRIP.COM GROUP LTD 115,537 5,146,286 3,493,839 ENTERTAINMENT SA 23,259 2,175,437 1,918,233 UNITED INTERNET AG 26,788 657,931 1,318,007 UNITED MICROELECTRONICS CORP 2,419,000 1,218,787 1,747,791 VANGUARD INTERNATIONAL SEMICON 246,000 307,261 783,907 VENTURE CORP LTD 59,600 940,841 870,153 VIPSHOP HOLDINGS LTD 103,357 1,449,454 1,706,424 WALSIN TECHNOLOGY CORP 75,000 970,410 408,977 WEIBO CORP 12,931 701,507 482,326 WILL SEMICONDUCTOR LTD 17,900 378,153 438,256 WIN SEMICONDUCTORS CORP 75,000 609,715 731,046 WINBOND ELECTRONICS CORP 784,000 524,804 324,646 WINGTECH TECHNOLOGY CO LTD 25,000 500,550 503,516 WIPRO LTD 2,529,857 7,874,584 10,878,385 WISETECH GLOBAL LTD 34,298 619,146 714,788 WISTRON CORP 722,879 530,047 785,912 WIWYNN CORP 18,000 341,349 479,730 WIX.COM LTD 11,920 1,153,084 3,511,990 WPG HOLDINGS LTD 357,298 607,662 500,484 YAGEO CORP 61,103 1,227,008 693,465 NV 30,943 2,149,172 2,149,172 CORP 58,500 828,460 956,014 YONYOU NETWORK TECHNOLOGY CO L 103,200 249,392 630,961 Z HOLDINGS CORP 678,000 3,306,782 4,507,426 ZHEN DING TECHNOLOGY HOLDING L 55,807 151,812 233,944 ZOZO INC 17,100 319,233 481,177 Information Technology & Electronics Total 48,704,952 $ 385,202,491 $ 906,341,720

Insurance PLC 41,953 733,734 1,481,282 AEGON NV 422,796 4,162,059 1,179,665 AGEAS SA/NV 45,546 6,683,534 1,917,370 AIA GROUP LTD 2,913,600 10,680,861 30,000,101 ALLIANZ SE 99,592 12,953,193 21,620,312 AMP LTD 806,270 3,074,524 912,304 ASSICURAZIONI GENERALI SPA 272,973 6,413,507 4,245,639 PLC 922,033 7,717,290 3,490,090 AXA SA 477,527 10,415,207 9,752,077 BALOISE HOLDING AG 14,177 1,721,697 2,212,081 BB SEGURIDADE PARTICIPACOES SA 192,300 1,715,559 924,711 CATHAY FINANCIAL HOLDING CO LT 2,105,098 2,637,057 2,859,028 CHINA LIFE INSURANCE CO LTD 1,841,000 5, 491,712 4,484,827

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EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Insurance CHINA LIFE INSURANCE CO LTD/TA 793,158 416,124 555,507 CHINA PACIFIC INSURANCE GROUP 688,698 2,685,593 2,238,704 CHINA REINSURANCE GROUP CORP 1,847,000 424,102 197,804 CHINA TAIPING INSURANCE HOLDIN 338,564 877,093 538,197 CNP ASSURANCES 42,346 665,919 568,222 DAI‐ICHI LIFE HOLDINGS INC 260,300 4,250,493 3,940,890 DB INSURANCE CO LTD 12,110 463,023 444,988 DIRECT LINE INSURANCE GROUP PL 283,973 1,174,272 1,121,285 DISCOVERY LTD 101,170 510,335 722,769 FAIRFAX FINANCIAL HOLDINGS LTD 5,600 2,504,626 1,728,158 GJENSIDIGE FORSIKRING ASA 74,174 1,087,418 1,590,664 GREAT WEST LIFECO INC 81,105 1,844,960 1,656,398 HANNOVER RUECK SE 13,918 1,158,032 2,373,610 HYUNDAI MARINE & FIRE INSURANC 17,910 526,451 333,202 IA FINANCIAL CORP INC 29,374 858,266 1,058,451 INSURANCE AUSTRALIA GROUP LTD 537,243 1,834,240 1, 895,207 INTACT FINANCIAL CORP 34,711 1,851,198 3,721,919 IRB BRASIL RESSEGUROS S/A 174,042 1,014,349 226,202 JAPAN POST HOLDINGS CO LTD 391,300 4,765,127 2,891,808 JAPAN POST INSURANCE CO LTD 29,300 510,975 468,048 LEGAL & GENERAL GROUP PLC 1,443,173 2,510,989 4,198,967 MANULIFE FINANCIAL CORP 455,546 9,134,882 6,726,816 MAPFRE SA 198,077 505,094 376,182 MEDIBANK PVT LTD 785,000 1,428,260 1,584,893 MOMENTUM METROPOLITAN HOLDINGS 302,216 715,373 270,440 MS&AD INSURANCE GROUP HOLDINGS 116,014 3,614,945 3,217,475 MUENCHENER RUECKVERSICHERUNGS‐ 34,414 5,122,867 9,947,749 CO LT 206,700 823,849 883,250 NN GROUP NV 75,573 2,362,963 2,851,537 PEOPLE'S INSURANCE CO GROUP OF 1,415,000 784,261 461,920 PICC PROPERTY & CASUALTY CO LT 1,779,357 1,388,829 1,375,244 GROUP CO OF 1,569,600 9,501,395 16,808,474 PORTO SEGURO SA 33,500 397, 141 322,793 POWSZECHNY ZAKLAD UBEZPIECZEN 150,284 1,419,922 1,113,033 623,941 4,286,711 10,204,726 QBE INSURANCE GROUP LTD 309,095 4,086,768 2,425,353 RSA INSURANCE GROUP PLC 187,838 1,417,626 1,130,015 SAMPO OYJ 112,764 3,082,475 4,548,831 SAMSUNG FIRE & MARINE INSURANC 7,660 1,294,113 1,205,843 CO LTD 18,455 1,597,228 950,792 SANLAM LTD 411,306 1,064,709 1,334,825 SCOR SE 35,093 754,977 940,956 SHIN KONG FINANCIAL HOLDING CO 2,438,511 1,240,897 689,796 SOMPO HOLDINGS INC 86,543 3,098,933 3,248,066 ST JAMES'S PLACE PLC 142,440 1,949,132 1,868,675 SUL AMERICA SA 42,034 316,752 330,853

Page 34 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Insurance SUN LIFE FINANCIAL INC 146,371 3,831,862 6,115,689 SUNCORP GROUP LTD 302,437 2,608,027 2,080,106 SWISS LIFE HOLDING AG 7,930 2,080,742 3,212,687 SWISS RE AG 67,214 4,565,177 5,422,206 T&D HOLDINGS INC 107,000 1,589,739 1,119,996 HOLDINGS INC 149,100 4,538,536 6,875,374 TRYG A/S 28,190 521,034 867,259 ZURICH INSURANCE GROUP AG 34,191 6,913,012 12,682,319 Insurance Total 29,733,428 $ 194,371,750 $ 230,744,660

Investment Management 3SBIO INC 200,000 195,081 234,830 ABN AMRO BANK NV 89,455 1,926,604 854,158 ABOITIZ EQUITY VENTURES INC 486,390 502,441 481,525 ADYEN NV 4,506 4,676,816 7,614,587 AENA SME SA 17,472 1,938,979 2,614,044 ALFA SAB DE CV 743,300 531,697 477,850 A‐LIVING SERVICES CO LTD 117,250 525,757 605,150 AMUNDI SA 18,665 1,247,481 1,453,189 ASCENDAS REAL ESTATE INVESTMEN 878,776 1,461,100 2,145,878 AVIC CAPITAL CO LTD 637,300 507,754 467,646 BOC AVIATION LTD 59,600 506,136 443,339 CO PLC/THE 170,165 1,373,806 833,220 BUDWEISER BREWING CO APAC LTD 347,500 1,293,105 1,172,510 CANSINO BIOLOGICS INC 19,800 464,026 419,752 CAPITALAND COMMERCIAL TRUST 650,981 781,431 804,390 CAPITALAND MALL TRUST 634,300 751,387 914,407 CELLNEX TELECOM SA 81,027 3,052,008 5,201,820 CGN POWER CO LTD 1,950,000 946,684 422,702 CHINA EAST EDUCATION HOLDINGS 232,500 413,674 513,590 CHINA FEIHE LTD 269,000 486,542 544,931 CHINA HUARONG ASSET MANAGEMENT 2,600,000 946,612 298,575 CHINA INTERNATIONAL CAPITAL CO 271,600 573,422 645,519 CHINA LITERATURE LTD 54,600 344,331 339,218 CHINA RESOURCES PHARMACEUTICAL 323,000 496,414 182,960 CORP LTD 10,606,000 1,858,056 2,025,365 CHINA YUHUA EDUCATION CORP LTD 474,000 462,956 454,420 CK HUTCHISON HOLDINGS LTD 657,830 4,298,059 4,307,642 COVESTRO AG 39,002 2,360,311 1,859,247 COVIVIO 8,387 745,723 622,890 DAIWA HOUSE REIT INVESTMENT CO 378 1,065,947 987,373 DALI FOODS GROUP CO LTD 715,000 552,168 438,217 DELIVERY HERO SE 31,387 1,959,633 3,379,106 DEXUS 229,413 1,165,294 1,498,119 DINO POLSKA SA 11,684 577,213 712,146 EQT AB 61,293 984, 750 1,133,483

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EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Investment Management EURAZEO SE 12,988 820,887 686,869 EVOLUTION GAMING GROUP AB 30,102 1,776,748 2,260,891 EXOR NV 26,987 1,014,435 1,594,390 FIBRA UNO ADMINISTRACION SA DE 585,500 1,996,432 456,929 FUYAO GLASS INDUSTRY GROUP CO 141,200 430,031 454,564 SA 10,768 1,255,698 1,483,544 GOODMAN GROUP 378,152 1,105,631 5,120,617 GPT GROUP/THE 516,362 2,031,376 1,462,583 GROUPE BRUXELLES LAMBERT SA 24,841 1,774,581 2,357,185 GROWTHPOINT PROPERTIES LTD 550,382 1,042,991 396,675 GRUPO CARSO SAB DE CV 169,905 375,606 335,447 GRUPO DE INVERSIONES SURAMERIC 69,848 1,126,480 391,151 HACI OMER SABANCI HOLDING AS 58,381 214,642 61,324 HAIDILAO INTERNATIONAL HOLDING 153,000 673,032 987,078 HANSOH PHARMACEUTICAL GROUP CO 134,000 442,592 635,407 HAPVIDA PARTICIPACOES E INVEST 64,797 866,530 764,562 PLC 96,019 1,184,463 2,078,247 HUA HONG SEMICONDUCTOR LTD 210,000 413,042 758,695 HUATAI SECURITIES CO LTD 92,600 183,133 162,495 ICADE 8,496 1,018,225 551,223 INDUSTRIVARDEN AB 54,239 964,823 1,433,176 INFRASTRUTTURE WIRELESS ITALIA 43,253 441,480 422,363 INNOVENT BIOLOGICS INC 238,000 885,637 1,586,124 INVESTOR AB 112,309 3,389,944 7,180,005 JAPAN PRIME REALTY INVESTMENT 167 526,067 504,724 JAPAN REAL ESTATE INVESTMENT C 283 1,164,695 1,585,195 JAPAN RETAIL FUND INVESTMENT C 722 1,282,346 1,088,668 JARDINE MATHESON HOLDINGS LTD 54,100 3,176,597 2,272,200 .COM NV 27,084 2,748,914 3,020,147 KINNEVIK AB 131,440 1,385,393 2,598,717 KLEPIERRE SA 44,919 1,639,633 740,811 KOC HOLDING AS 197,063 548,300 399,000 L E LUNDBERGFORETAGEN AB 17,063 570,458 781,440 LA FRANCAISE DES JEUX SAEM 30,858 1,010,536 1,147,365 LAND SECURITIES GROUP P LC 148,343 2,000,179 1,148,245 LINK REIT 519,049 1,552,533 4,132,220 GROUP PL 75,461 1,348,538 8,891,389 LONGFOR GROUP HOLDINGS LTD 394,000 423,584 2,086,889 LUYE PHARMA GROUP LTD 436,500 479,731 236,550 M&G PLC 757,575 924,181 1,754,834 MAPLETREE COMMERCIAL TRUST 752,800 1,340,119 1,063,089 MAPLETREE LOGISTICS TRUST 1,061,300 1,540,237 1,615,836 MIRVAC GROUP 895,857 1,522,676 1,397,941 MONETA MONEY BANK AS 317,692 1,079,663 802,514 CORP 6,044 820,722 847,147 NEXI SPA 73,434 1,207,925 1,309,886

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EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Investment Management NIPPON BUILDING FUND INC 269 1,202,657 1,620,925 NIPPON PROLOGIS REIT INC 412 774,684 1,348,145 NOMURA REAL ESTATE MASTER FUND 749 1,036,608 959,867 ORIX JREIT INC 318 702,694 472,899 ORSTED A/S 47,737 2,541,226 6,768,682 PARTNERS GROUP HOLDING AG 5,343 1,387,293 5,445,950 PING AN HEALTHCARE AND TECHNOL 85,100 562,064 1,240,789 PIRELLI & C SPA 64,217 549,219 278,094 POSTAL SAVINGS BANK OF CHINA C 2,053,000 1,241,241 972,176 POSTE ITALIANE SPA 174,983 1,366,497 1,609,293 REINET INVESTMENTS SCA 34,306 647,697 654,317 CO LTD 4,441 2,010,723 2,908,578 SCENTRE GROUP 1,166,137 3,564,144 1,949,062 PLC 34,223 528,008 1,327,947 SCOUT24 AG 25,372 1,940,688 2,365,287 SHOPPING CENTRES AUSTRALASIA P 1 1 2 SIAM CEMENT PCL/THE 212,300 2,568,078 2,414,787 SIEMENS HEALTHINEERS AG 37,668 1,483,522 1,716,369 SOFINA SA 3,286 899,355 988,368 PLC 628,786 3,844,004 1,997,018 STOCKLAND 619,819 2,028,473 1,815,213 SUNTEC REAL ESTATE INVESTMENT 495,500 669,473 510,224 SWIRE PACIFIC LTD 112,101 1,129,572 610,396 TOPSPORTS INTERNATIONAL HOLDIN 366,000 520,132 452,887 UNIBAIL‐RODAMCO‐WESTFIELD 32,115 6,776,813 1,504,055 UNITED URBAN INVESTMENT CORP 519 705,549 577,510 VICINITY CENTRES 647,013 1,377,724 691,430 WASHINGTON H SOUL PATTINSON & 26,276 504,119 406,720 WENDEL SE 7,533 821,419 774,331 WH GROUP LTD 2,336,500 1,823,346 2,016,888 WORLDLINE SA/FRANCE 28,528 1,871,887 2,627,773 WUXI APPTEC CO LTD 52,696 295,825 780,566 WUXI BIOLOGICS CAYMAN INC 225,000 2,957,127 5,846,984 CORP 2,565,800 3,353,465 7,780,017 YTL CORP BHD 1,477,939 583,800 237,719 ZALANDO SE 39,987 1,708,240 3,497,734 ZHONGAN ONLINE P&C INSURANCE C 116,500 358,487 767,382 Investment Management Total 47,143,918 $ 152,030,718 $ 188,086,533

Packaging KLABIN SA 231,248 1,215,077 1,083,336 LEE & MAN PAPER MANUFACTURING 452,000 530,811 270,612 Packaging Total 683,248 $ 1,745,888 $ 1,353,948

Page 37 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Real Estate AEON MALL CO LTD 29,250 761,835 386,980 AGILE GROUP HOLDINGS LTD 362,000 691,375 499,784 ALDAR PROPERTIES PJSC 883,045 1,033,827 488,023 AROUNDTOWN SA 274,751 1,884,166 1,505,592 AYALA CORP 55,040 424,455 832,667 AYALA LAND INC 1,651,540 889,853 981,012 AZRIELI GROUP LTD 10,472 444,474 565,505 BARWA REAL ESTATE CO 1,132,860 1,196,565 1,061,298 BGP HOLDINGS PLC STAKE OF GPT 2,017,817 40,941 15 BROOKFIELD ASSET MGMT INC 319,876 2,667,413 10,806,970 CANADIAN APARTMENT PPTYS REIT 18,758 772,920 647,845 CAPITALAND LTD 819,100 1,637,578 1,668,805 CENCOSUD SHOPPING SA 262,124 512,872 392,424 CENTRAL PATTANA PCL 618,100 1,115,651 933,431 CHINA AOYUAN GROUP LTD 340,000 469,756 392,199 CHINA 390,000 400,203 910,821 CHINA FORTUNE LAND DEVELOPMENT 1 78,226 562,668 436,803 CHINA JINMAO HOLDINGS GROUP LT 968,000 339,172 605,769 CHINA MERCHANTS SHEKOU INDUSTR 291,596 786,679 710,400 CHINA OVERSEAS LAND & INVESTME 1,060,865 2,217,135 3,073,027 CHINA OVERSEAS PROPERTY HOLDIN 420,000 475,871 378,806 CHINA RESOURCES LAND LTD 617,222 1,336,159 2,855,094 CHINA CO LTD 482,500 1,205,871 1,607,404 CIFI HOLDINGS GROUP CO LTD 756,000 585,728 643,807 CK ASSET HOLDINGS LTD 635,830 2,332,539 3,453,926 HOLDINGS CO LTD 1,875,024 2,089,953 2,324,985 COUNTRY GARDEN SERVICES HOLDIN 300,000 480,176 2,092,218 CO LT 19,020 1,141,094 1,686,143 DEUTSCHE WOHNEN SE 90,411 1,990,803 4,826,791 EMAAR MALLS PJSC 500,000 469,676 189,211 EMAAR PROPERTIES PJSC 965,283 2,744,844 756,848 FIRST CAPITAL REIT 50,045 846,518 525,435 GREENLAND HOLDINGS CORP LTD 836,097 797,488 933,090 GREENTOWN SERVICE GROUP CO LTD 328,000 438,162 440,993 GUANGZHOU R&F PROPERTIES CO LT 291,697 402,481 371,107 HANG LUNG PROPERTIES LTD 424,626 873,515 1,197,148 HENDERSON LAND DEVELOPMENT CO 249,940 603,112 985,228 HIGHWEALTH CONSTRUCTION CORP 188,760 260,879 298,501 HONGKONG LAND HOLDINGS LTD 265,400 1,779,124 1,016,482 HULIC CO LTD 71,500 474,140 651,318 KERRY PROPERTIES LTD 209,500 517,880 544,689 KWG GROUP HOLDINGS LTD 366,500 506,187 697,046 LEG IMMOBILIEN AG 14,558 1,928,355 2,146,036 LOGAN GROUP CO LTD 342,000 515,130 637,211 MEGAWORLD CORP 1,711,000 171,578 102,692 CO LTD 283,884 4,537,824 4,447,860

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PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Real Estate CO LTD 199,912 3,631,333 3,619,511 MULTIPLAN EMPREENDIMENTOS IMOB 69,561 432,848 263,997 NEPI ROCKCASTLE PLC 84,034 1,026,941 393,304 NEW WORLD DEVELOPMENT CO LTD 357,276 1,302,133 1,855,494 NOMURA REAL ESTATE HOLDINGS IN 36,000 856,706 688,802 POLY DEVELOPMENTS AND HOLDINGS 314,300 659,413 738,202 POLY PROPERTY SERVICES CO LTD 43,200 488,351 378,202 REA GROUP LTD 17,830 726,530 1,505,466 RIOCAN REIT 39,032 920,177 455,640 RUENTEX DEVELOPMENT CO LTD 257,877 329,229 379,677 SEAZEN GROUP LTD 582,000 576,995 527,920 SHANGHAI INDUSTRIAL HOLDINGS L 153,000 519,248 229,792 SHANGHAI LUJIAZUI FINANCE & TR 122,040 225,181 104,832 SHENZHEN INVESTMENT LTD 2,096,000 857,359 711,274 SHENZHEN OVERSEAS CHINESE TOWN 742,000 742,738 773,954 SHIMAO GROUP HOLDINGS LTD 324,704 566,200 1,462,187 SINO LAND CO LTD 875,399 1,076,813 1,019,961 SINO‐OCEAN GROUP HOLDING LTD 945,500 781,812 218,376 SM PRIME HOLDINGS INC 2,075,625 424,117 1,250,041 SMARTCENTRES REIT 16,985 447,879 267,755 SOHO CHINA LTD 621,500 385,601 191,659 SUMITOMO REALTY & DEVELOPMENT 79,900 1,407,937 2,359,064 SUN HUNG KAI PROPERTIES LTD 316,132 3,552,499 4,250,363 SUNAC CHINA HOLDINGS LTD 639,000 1,556,650 2,687,871 SWIRE PROPERTIES LTD 317,200 1,045,917 859,493 SWISS PRIME SITE AG 17,592 1,380,985 1,589,327 TOKYU FUDOSAN HOLDINGS CORP 155,000 1,693,782 666,510 UOL GROUP LTD 153,200 861,941 740,309 VONOVIA SE 121,887 3,823,802 8,746,245 WHARF HOLDINGS LTD/THE 342,053 436,274 667,321 WHARF REAL ESTATE INVESTMENT C 269,053 567,783 1,119,586 YUEXIU PROPERTY CO LTD 2,330,000 526,429 444,946 Real Estate Total 38,693,009 $ 82,186,228 $ 103,876,520

Travel & Entertainment SA 49,621 1,665,428 1,527,520 AIR CANADA 33,437 1,174,738 451,661 LTD 598,000 453,714 412,033 ALIBABA PICTURES GROUP LTD 2,730,000 979,770 387,476 ANA HOLDINGS INC 28,600 844,755 714,022 AP MOLLER ‐ MAERSK A/S 2,387 4,105,637 3,618,879 ARISTOCRAT LEISURE LTD 121,577 725,382 2,550,811 AURIZON HOLDINGS LTD 423,211 1,371,975 1,361,488 BEST INC 71,924 382,211 287,696 BTS GROUP HOLDINGS PCL 3,286,300 1,038,332 1,098,161 CANADIAN NATIONAL RAILWAY CO 173,238 3,137,173 18,223,263

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PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Travel & Entertainment CANADIAN PACIFIC RAILWAY LTD 33,667 2,434,617 9,971,034 CENTRAL JAPAN RAILWAY CO 43,500 4,896,831 6,518,129 CHINA SOUTHERN AIRLINES CO LTD 204,000 209,163 107,657 CITY DEVELOPMENTS LTD 102,000 423,801 602,427 CJ ENM CO LTD 3,598 750,514 359,528 CJ LOGISTICS CORP 827 149,565 105,472 COSCO SHIPPING ENERGY TRANSPOR 362,000 228,679 166,750 COSCO SHIPPING HOLDINGS CO LTD 866,000 487,489 434,668 CROWN RESORTS LTD 79,859 949,720 532,128 DAQIN RAILWAY CO LTD 781,000 881,163 754,248 DEUTSCHE LUFTHANSA AG 52,917 859,904 552,488 DEUTSCHE POST AG 233,431 5,591,414 10,642,029 DSV PANALPINA A/S 54,945 1,231,147 8,609,858 EAST JAPAN RAILWAY CO 74,016 4,501,524 4,813,884 EVA AIRWAYS CORP 704,980 242,490 276,307 EVERGREEN MARINE CORP TAIWAN L 573,186 296,405 339,909 PLC 34,276 4,498,446 5,753,012 FOSUN INTERNATIONAL LTD 628,020 704,385 699,317 GALAXY ENTERTAINMENT GROUP LTD 535,000 1,652,543 4,214,338 GENTING BHD 602,035 1,188,952 507,296 GENTING MALAYSIA BHD 840,514 624,219 460,058 GENTING SINGAPORE LTD 1,629,751 1,366,124 839,089 SE 105,516 1,062,255 1,620,303 GIANT MANUFACTURING CO LTD 84,253 312,188 875,796 GVC HOLDINGS PLC 144,865 1,985,521 1,559,883 HANKYU HANSHIN HOLDINGS INC 63,200 1,506,025 2,053,128 HUAZHU GROUP LTD 32,552 1,432,695 1,456,051 CO LTD 3,786 493,738 463,729 INTERCONTINENTAL HOTELS GROUP 35,483 703,943 2,093,289 CO LTD 19,600 514,239 390,725 KAMIGUMI CO LTD 34,000 494,461 702,155 INC 28,220 421,777 490,566 KEIHAN HOLDINGS CO LTD 28,000 859,901 1,206,658 KEIKYU CORP 67,001 877,023 999,534 KEIO CORP 23,820 990,916 1,439,825 CO LTD 41,500 435,613 1,220,991 KINTETSU GROUP HOLDINGS CO LTD 47,050 1,737,404 2,067,547 KOREAN AIR LINES CO LTD 21,133 510,391 313,997 KUEHNE + NAGEL INTERNATIONAL A 13,496 1,170,725 2,623,660 KYUSHU RAILWAY CO 59,500 1,967,896 1,311,811 MELCO RESORTS & ENTERTAINMENT 56,832 1,781,531 1,109,361 MINOR INTERNATIONAL PCL 1,147,077 1,232,736 825,593 MINOR INTL PCL ‐CW23 54,622 ‐ ‐ MISC BHD 311,120 745,582 568,389 MTR CORP LTD 395,000 886,003 2,056,509 NAGOYA RAILROAD CO LTD 56,500 1,235,066 1,576,534

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EQUITY SECURITIES

PSF(SBOE) INTERNATIONAL EQUITY SECURITIES

Number of Shares Book Value Fair Value Travel & Entertainment CO LTD 19,850 1,176,111 1,173,648 KK 45,860 1,934,843 717,015 CO LTD 67,950 764,586 1,680,728 OPAP SA 71,657 1,161,854 658,162 ORIENTAL LAND CO LTD/JAPAN 48,240 2,267,539 6,546,029 QANTAS AIRWAYS LTD 180,927 888,939 527,190 RESTAURANT BRANDS INTL INC 64,932 2,835,858 3,521,812 RUMO SA 251,902 654,025 1,037,749 SANDS CHINA LTD 606,200 1,020,372 2,675,050 SEGA SAMMY HOLDINGS INC 54,624 809,032 633,060 SEIBU HOLDINGS INC 53,300 1,162,506 586,051 SF HOLDING CO LTD 176,700 1,125,721 2,193,670 SG HOLDINGS CO LTD 45,400 1,069,043 2,087,086 SHIMANO INC 18,500 602,676 3,916,498 SINGAPORE AIRLINES LTD 355,432 1,261,814 954,197 SJM HOLDINGS LTD 565,000 956,692 777,133 TABCORP HOLDINGS LTD 571,118 2,453,347 1,423,388 TAIWAN HIGH SPEED RAIL CORP 357,000 529,413 395,430 CO LTD 59,000 1,319,011 1,841,577 TOHO CO LTD/TOKYO 32,700 546,889 1,242,689 TOKYU CORP 128,850 1,594,299 1,722,941 TRAVELSKY TECHNOLOGY LTD 328,000 625,933 682,227 TURK HAVA YOLLARI AO 58,240 152,352 83,573 WEST JAPAN RAILWAY CO 48,500 2,048,506 2,547,914 WYNN MACAU LTD 454,400 785,827 854,842 YAMAHA CORP 34,800 620,786 1,696,601 YAMAHA MOTOR CO LTD 71,200 962,388 1,121,931 YAMATO HOLDINGS CO LTD 78,300 1,185,419 2,046,750 YUNDA HOLDING CO LTD 165,620 548,656 502,069 ZTO EXPRESS CAYMAN INC 94,945 2,162,741 3,183,506 Travel & Entertainment Total 23,941,090 $ 108,633,017 $ 165,949,186

TOTAL PSF(SBOE) INTERNATIONAL EQUITY SECURITIES 1,644,595,027 $ 4,019,223,874 $ 5,274,117,924

Page 41 of 41 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Advertising, Media, & Publishing AMC NETWORKS INC 33,645 $ 1,397,424 $ 817,237 CABLE ONE INC 4,356 3,026,785 8,016,477 CHARTER COMMUNICATIONS INC 26,290 7,399,149 16,184,387 COMCAST CORP 794,495 10,734,367 35,601,321 DISCOVERY INC 83,095 1,723,149 1,717,885 DISH NETWORK CORP 44,855 2,524,228 1,593,250 EW SCRIPPS CO/THE 45,524 647,794 506,227 FACTSET RESEARCH SYSTEMS INC 31,414 3,631,640 11,007,466 FOX CORP 87,548 3,554,197 2,437,420 GANNETT CO INC 109,630 724,162 189,660 INTERPUBLIC GROUP OF COS INC/T 67,961 1,444,770 1,206,987 JOHN WILEY & SONS INC 36,254 1,476,179 1,147,439 MEREDITH CORP 33,399 1,155,081 467,586 NEW YORK TIMES CO/THE 119,740 2,184,270 5,188,334 NEWS CORP 89,071 866,353 1,345,691 OMNICOM GROUP INC 37,379 1,514,681 2,021,830 SCHOLASTIC CORP 25,155 763,944 565,988 TEGNA INC 181,363 2,671,919 2,270,665 VIACOMCBS INC 94,296 3,909,167 2,626,144 WALT DISNEY CO/THE 315,074 13,475,015 41,548,808 WORLD WRESTLING ENTERTAINMENT 38,423 1,269,120 1,693,302 Advertising, Media, & Publishing Total 2,298,967 $ 66,093,394 $ 138,154,104

Aerospace & Defense AAR CORP 27,369 477,529 552,307 AEROJET ROCKETDYNE HOLDINGS IN 59,958 1,294,238 2,480,462 AEROVIRONMENT INC 17,908 777,328 1,367,992 BARNES GROUP INC 39,333 1,054,920 1,557,587 BOEING CO/THE 93,516 5,810,499 16,067,919 GENERAL DYNAMICS CORP 40,531 2,107,183 6,053,305 HEXCEL CORP 69,274 3,036,867 2,728,703 HOWMET AEROSPACE INC 66,943 2,230,768 1,172,841 KAMAN CORP 22,940 626,894 1,060,975 L3HARRIS TECHNOLOGIES INC 37,655 3,190,652 6,805,765 LOCKHEED MARTIN CORP 43,047 3,261,023 16,799,522 MERCURY SYSTEMS INC 46,133 1,827,515 3,494,113 MOOG INC 24,889 919,030 1,500,558 NATIONAL PRESTO INDUSTRIES INC 4,188 263,031 376,627 NORTHROP CORP 27,043 1,639,957 9,265,202 PARK AEROSPACE CORP 16,167 315,893 179,292 RAYTHEON TECHNOLOGIES CORP 256,553 6,395,331 15,649,733 TELEDYNE TECHNOLOGIES INC 6,396 2,052,924 2,005,850 TRANSDIGM GROUP INC 8,771 2,485,701 4,382,606 TRIUMPH GROUP INC 43,019 1,035,705 311,027 Aerospace & Defense Total 951,633 $ 40,802,988 $ 93,812,386

Page 1 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Agriculture & Environment ALTRIA GROUP INC 324,162 4,353,478 14,178,846 ANDERSONS INC/THE 27,292 686,763 483,887 ARCHER-DANIELS-MIDLAND CO 96,897 1,697,121 4,337,110 CLEAN HARBORS INC 42,420 1,673,609 2,591,862 DARLING INGREDIENTS INC 135,954 2,338,703 4,346,449 FRESH DEL MONTE PRODUCE INC 24,938 756,937 578,312 HARSCO CORP 65,385 1,144,288 925,198 PENTAIR PLC 28,908 759,409 1,304,907 PHILIP MORRIS INTERNATIONAL IN 271,615 8,474,348 21,672,161 REPUBLIC SERVICES INC 36,646 996,793 3,397,817 SANDERSON FARMS INC 16,411 1,182,003 1,919,431 STERICYCLE INC 75,865 3,703,954 4,863,705 TETRA TECH INC 44,820 1,646,309 4,137,334 UNIVERSAL CORP/VA 20,262 937,297 879,573 US ECOLOGY INC 21,160 955,311 785,671 VECTOR GROUP LTD 99,085 1,114,049 997,786 WASTE MANAGEMENT INC 67,726 1,980,790 7,720,764 Agriculture & Environment Total 1,399,546 $ 34,401,162 $ 75,120,813

Banking & Finance AFFILIATED MANAGERS GROUP INC 39,190 3,071,659 2,690,394 ALLEGIANCE BANCSHARES INC 15,563 505,891 395,611 ALLIANCE DATA SYSTEMS CORP 35,168 1,663,951 1,586,428 AMERICAN EXPRESS CO 115,139 4,523,340 11,696,971 AMERIPRISE FINANCIAL INC 21,339 622,083 3,345,955 AMERIS BANCORP 54,158 1,702,567 1,327,954 ASSOCIATED BANC-CORP 127,523 2,619,225 1,713,909 AXOS FINANCIAL INC 43,061 819,654 1,067,052 BANC OF CALIFORNIA INC 36,685 563,923 403,168 BANCFIRST CORP 4,839 214,818 212,916 BANCORPSOUTH BANK 80,668 2,000,997 1,740,815 BANK OF AMERICA CORP 1,361,986 34,662,314 35,057,520 BANK OF HAWAII CORP 33,204 1,560,201 1,827,548 BANK OF NEW YORK MELLON CORP/T 140,551 4,796,212 5,197,576 BANK OZK 100,321 2,511,300 2,311,396 BANKUNITED INC 76,465 1,787,609 1,787,752 BANNER CORP 29,177 1,206,607 1,053,873 BERKSHIRE HILLS BANCORP INC 35,810 1,218,924 328,736 BLACKROCK INC 25,948 7,429,179 15,418,042 BLUCORA INC 39,704 768,347 473,669 BOSTON PRIVATE FINANCIAL HOLDI 67,887 865,116 403,249 BRIGHTSPHERE INVESTMENT GROUP 51,722 529,699 716,867 BROOKLINE BANCORP INC 65,496 861,893 628,762 CADENCE BANCORP 104,501 1,603,166 992,760 CAPITAL ONE FINANCIAL CORP 79,422 4,434,443 5,482,501

Page 2 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Banking & Finance CATHAY GENERAL BANCORP 62,713 1,637,077 1,548,384 CBOE GLOBAL MARKETS INC 19,139 1,604,827 1,756,769 CENTRAL PACIFIC FINANCIAL CORP 23,321 479,658 361,242 CHARLES SCHWAB CORP/THE 199,865 4,196,933 7,101,203 CIT GROUP INC 81,626 3,166,948 1,605,583 INC 363,137 30,575,045 18,563,563 CITIZENS FINANCIAL GROUP INC 74,417 1,562,614 1,925,168 CITY HOLDING CO 13,402 617,829 857,460 CME GROUP INC 62,550 6,394,518 11,000,669 COLUMBIA BANKING SYSTEM INC 59,391 1,696,097 1,657,603 COMERICA INC 24,253 1,047,984 958,721 COMMERCE BANCSHARES INC/MO 83,294 2,968,648 4,961,824 COMMUNITY BANK SYSTEM INC 43,218 1,721,819 2,600,427 CULLEN/FROST BANKERS INC 47,224 2,805,782 3,280,179 CUSTOMERS BANCORP INC 24,019 542,683 306,723 CVB FINANCIAL CORP 106,831 1,710,869 1,945,393 DIME COMMUNITY BANCSHARES INC 23,768 373,358 306,607 DISCOVER FINANCIAL SERVICES 53,429 946,725 2,836,011 EAGLE BANCORP INC 26,703 1,245,979 768,512 EAST WEST BANCORP INC 117,425 3,092,615 4,318,892 EATON VANCE CORP 94,435 2,403,814 3,873,724 ENCORE CAPITAL GROUP INC 23,065 687,103 1,059,606 ENOVA INTERNATIONAL INC 24,917 350,057 425,582 INC 33,629 1,752,753 2,080,963 EZCORP INC 43,221 495,287 232,529 FB FINANCIAL CORP 25,436 778,407 686,761 FEDERATED HERMES INC 79,584 1,724,710 1,902,853 FIFTH THIRD BANCORP 124,182 3,494,284 2,565,600 FIRST BANCORP/PUERTO RICO 181,042 1,443,566 1,037,371 FIRST COMMONWEALTH FINANCIAL C 81,439 890,459 667,800 FIRST FINANCIAL BANCORP 81,301 1,643,203 1,115,450 FIRST FINANCIAL BANKSHARES INC 117,881 1,837,715 3,568,847 FIRST HAWAIIAN INC 90,034 1,610,765 1,488,262 FIRST HORIZON NATIONAL CORP 458,457 5,117,462 4,378,264 FIRST MIDWEST BANCORP INC/IL 94,784 1,802,907 1,181,009 FIRST REPUBLIC BANK/CA 29,910 2,606,343 3,377,138 FLAGSTAR BANCORP INC 33,896 1,018,677 1,065,012 FNB CORP/PA 268,115 3,068,176 2,010,863 FRANKLIN RESOURCES INC 48,383 858,554 1,018,946 FULTON FINANCIAL CORP 134,271 1,510,536 1,313,170 GLACIER BANCORP INC 73,625 1,973,493 2,583,133 GROUP INC/THE 53,987 5,449,115 11,060,317 GREAT WESTERN BANCORP INC 45,640 1,261,990 635,765 GREENHILL & CO INC 12,150 512,225 136,323 HANCOCK WHITNEY CORP 71,592 2,597,380 1,432,556

Page 3 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Banking & Finance HANMI FINANCIAL CORP 25,373 420,792 241,805 HERITAGE FINANCIAL CORP/WA 29,768 923,965 593,574 HOME BANCSHARES INC/AR 127,453 1,706,959 2,066,013 HOMESTREET INC 19,405 551,030 531,115 HOPE BANCORP INC 102,227 1,144,006 864,840 HUNTINGTON BANCSHARES INC/OH 176,914 1,836,730 1,664,761 INDEPENDENT BANK CORP 27,320 1,303,784 1,717,062 INDEPENDENT BANK GROUP INC 30,353 1,313,835 1,411,415 INTERACTIVE BROKERS GROUP INC 63,683 2,018,454 3,376,473 INTERCONTINENTAL EXCHANGE INC 95,454 4,700,805 10,140,078 INTERNATIONAL BANCSHARES CORP 46,197 1,012,937 1,458,901 INVESCO LTD 65,638 1,471,855 669,508 JANUS HENDERSON GROUP PLC 127,365 2,994,598 2,639,003 JEFFERIES FINANCIAL GROUP INC 187,397 3,382,120 3,286,943 JPMORGAN CHASE & CO 531,503 22,056,488 53,251,286 KEYCORP 170,144 2,268,041 2,096,174 LENDINGTREE INC 6,395 959,826 1,975,671 M&T BANK CORP 22,375 2,383,021 2,310,443 MASTERCARD INC 154,184 5,863,508 55,227,167 META FINANCIAL GROUP INC 26,414 674,073 509,262 196,367 7,396,175 10,262,139 NASDAQ INC 20,034 701,487 2,692,970 NATIONAL BANK HOLDINGS CORP 25,361 768,121 721,267 NAVIENT CORP 141,539 1,753,825 1,286,590 NBT BANCORP INC 36,156 937,888 1,101,673 NEW YORK COMMUNITY BANCORP INC 385,026 5,981,383 3,484,485 NORTHERN TRUST CORP 36,292 2,102,483 2,971,952 NORTHFIELD BANCORP INC 35,986 521,439 347,625 NORTHWEST BANCSHARES INC 98,450 1,191,756 995,330 OFG BANCORP 42,609 667,426 547,100 OLD NATIONAL BANCORP/IN 136,732 2,075,593 1,911,513 PACIFIC PREMIER BANCORP INC 67,071 1,905,132 1,515,134 PACWEST BANCORP 96,658 3,585,179 1,844,235 PARK NATIONAL CORP 1,453 127,045 130,639 PEOPLE'S UNITED FINANCIAL INC 74,074 1,233,867 783,703 PINNACLE FINANCIAL PARTNERS IN 59,171 2,612,021 2,363,881 PIPER SANDLER COS 12,032 599,698 907,814 PNC FINANCIAL SERVICES GROUP I 74,005 6,468,171 8,229,356 PRA GROUP INC 37,777 747,203 1,763,241 PREFERRED BANK/LOS ANGELES CA 11,259 661,865 421,087 PROSPERITY BANCSHARES INC 76,891 3,601,666 4,192,097 PROVIDENT FINANCIAL SERVICES I 58,118 871,297 765,995 INC 21,274 1,659,881 1,610,867 REGIONS FINANCIAL CORP 166,933 2,383,576 1,929,745 S&T BANCORP INC 31,590 949,823 637,960

Page 4 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Banking & Finance SEACOAST BANKING CORP OF FLORI 43,734 1,083,483 885,176 SEI INVESTMENTS CO 103,113 3,088,576 5,398,997 SERVISFIRST BANCSHARES INC 38,415 1,000,750 1,407,910 SIGNATURE BANK/NEW YORK NY 44,451 3,185,797 4,313,081 SIMMONS FIRST NATIONAL CORP 90,422 2,006,712 1,543,504 SLM CORP 311,305 2,739,649 2,378,370 SOUTHSIDE BANCSHARES INC 25,740 731,910 709,266 STATE STREET CORP 61,393 3,091,559 4,180,249 STERLING BANCORP/DE 161,369 2,506,549 1,883,176 FINANCIAL CORP 56,857 2,156,101 2,883,218 STONEX GROUP INC 13,553 450,170 768,455 SVB FINANCIAL GROUP 8,985 2,327,956 2,294,589 SYNCHRONY FINANCIAL 93,673 2,679,411 2,324,027 SYNOVUS FINANCIAL CORP 122,236 3,902,155 2,673,301 T ROWE PRICE GROUP INC 39,692 1,343,315 5,525,523 TCF FINANCIAL CORP 126,237 4,890,468 3,393,251 TEXAS CAPITAL BANCSHARES INC 41,849 1,428,086 1,355,489 TOMPKINS FINANCIAL CORP 10,128 547,564 670,271 TRIUMPH BANCORP INC 18,393 672,098 525,304 TRUIST FINANCIAL CORP 235,043 8,605,604 9,122,019 TRUSTCO BANK CORP NY 80,022 719,394 476,931 TRUSTMARK CORP 52,620 1,119,506 1,235,518 UMB FINANCIAL CORP 35,144 1,668,080 1,887,936 UMPQUA HOLDINGS CORP 182,746 2,900,526 2,061,375 UNITED BANKSHARES INC/WV 105,538 3,099,624 2,758,763 UNITED COMMUNITY INC/GA 64,967 1,670,164 1,177,202 US BANCORP 239,100 5,763,661 8,703,240 VALLEY NATIONAL BANCORP 325,065 3,521,755 2,441,238 VERITEX HOLDINGS INC 37,994 866,698 683,132 VIRTUS INVESTMENT PARTNERS INC 6,006 606,881 852,251 VISA INC 294,295 8,855,054 62,387,597 WADDELL & REED FINANCIAL INC 54,461 1,173,744 857,761 WALKER & DUNLOP INC 23,964 735,680 1,312,748 WASHINGTON FEDERAL INC 62,817 1,297,950 1,473,059 WEBSTER FINANCIAL CORP 74,816 2,201,010 2,057,440 & CO 650,811 23,441,997 15,717,086 WESTAMERICA BANCORP 22,350 1,141,070 1,360,221 WESTERN UNION CO/THE 71,673 1,155,252 1,690,766 WINTRUST FINANCIAL CORP 47,766 2,085,186 2,078,776 WISDOMTREE INVESTMENTS INC 98,661 1,562,682 368,992 WORLD ACCEPTANCE CORP 4,352 208,320 395,988 ZIONS BANCORP NA 28,583 1,158,731 919,229 Banking & Finance Total 14,808,987 $ 423,701,812 $ 584,002,518

Page 5 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Biotechnology & Chemistry ADVANSIX INC 23,231 384,873 295,731 AIR PRODUCTS AND CHEMICALS INC 38,525 2,799,641 11,259,317 ALBEMARLE CORP 18,546 1,462,308 1,687,871 ALEXION PHARMACEUTICALS INC 38,520 4,065,748 4,399,754 AMAG PHARMACEUTICALS INC 28,442 574,225 294,659 AMERICAN VANGUARD CORP 21,984 313,958 311,074 AMGEN INC 102,610 7,815,439 25,993,165 ANI PHARMACEUTICALS INC 7,879 405,102 247,085 ARROWHEAD PHARMACEUTICALS INC 84,461 2,412,990 3,567,633 ASHLAND GLOBAL HOLDINGS INC 50,161 1,512,094 3,696,364 BALCHEM CORP 26,820 1,233,373 2,620,314 BIOGEN INC 28,466 1,885,744 8,187,960 BIO‐RAD LABORATORIES INC 3,728 1,684,907 1,896,024 CABOT CORP 46,844 1,497,461 1,733,696 CELANESE CORP 20,624 1,773,913 2,086,118 CF INDUSTRIES HOLDINGS INC 37,293 930,672 1,216,871 CHEMOURS CO/THE 136,272 2,253,041 2,815,380 CORTEVA INC 130,541 2,475,188 3,726,946 DOW INC 129,208 4,417,087 5,829,865 DUPONT DE NEMOURS INC 127,999 6,226,410 7,137,224 EASTMAN CHEMICAL CO 23,704 631,837 1,732,999 ECOLAB INC 43,137 2,240,918 8,501,440 EMERGENT BIOSOLUTIONS INC 36,966 1,514,367 4,215,972 EXELIXIS INC 254,488 5,104,602 5,654,723 FERRO CORP 68,244 1,144,048 851,003 FMC CORP 22,580 624,904 2,412,899 GCP APPLIED TECHNOLOGIES INC 44,769 919,785 1,166,680 GILEAD SCIENCES INC 218,740 3,722,794 14,600,895 HAWKINS INC 7,806 330,667 392,017 HB FULLER CO 42,665 1,041,420 2,055,173 ILLUMINA INC 25,641 4,737,586 9,159,478 INCYTE CORP 31,471 4,016,556 3,032,231 INGEVITY CORP 34,193 1,225,958 1,920,621 INNOSPEC INC 20,367 1,138,315 1,521,211 INNOVIVA INC 55,491 607,581 649,800 INTERNATIONAL FLAVORS & FRAGRA 18,639 1,238,116 2,307,322 KOPPERS HOLDINGS INC 17,412 593,173 418,933 KRATON CORP 26,426 778,956 371,021 LIGAND PHARMACEUTICALS INC 13,303 1,050,479 1,356,906 LINDE PLC 91,610 9,328,945 22,878,681 LYONDELLBASELL INDUSTRIES NV 44,822 2,495,154 2,934,945 MINERALS TECHNOLOGIES INC 28,292 883,025 1,435,819 MOSAIC CO/THE 60,824 2,868,988 1,108,822 MYRIAD GENETICS INC 61,866 1,206,644 827,148 NEKTAR THERAPEUTICS 147,712 2,696,108 2,856,750

Page 6 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Biotechnology & Chemistry NEOGENOMICS INC 91,111 1,744,764 3,546,951 NEWMARKET CORP 5,980 1,139,494 2,227,490 OLIN CORP 131,001 2,216,977 1,473,761 PPG INDUSTRIES INC 41,153 1,276,905 4,954,821 QUAKER CHEMICAL CORP 10,747 788,084 2,041,930 RAYONIER ADVANCED MATERIALS IN 41,458 511,819 131,007 REGENERON PHARMACEUTICALS INC 17,594 6,283,076 10,907,048 REGENXBIO INC 26,265 1,314,770 801,608 ROGERS CORP 15,476 970,392 1,753,586 RPM INTERNATIONAL INC 107,462 3,372,301 9,109,554 SENSIENT TECHNOLOGIES CORP 35,103 1,116,666 1,938,388 SHERWIN‐WILLIAMS CO/THE 14,096 1,208,926 9,459,121 STEPAN CO 16,598 915,594 1,913,583 UNITED THERAPEUTICS CORP 36,520 2,745,057 3,906,179 VALVOLINE INC 153,546 1,666,582 3,132,338 VERTEX PHARMACEUTICALS INC 45,226 4,217,515 12,623,481 XENCOR INC 41,156 1,652,370 1,471,327 Biotechnology & Chemistry Total 3,373,814 $ 131,406,392 $ 254,758,713

Business Services AARON'S INC 56,073 1,343,134 3,133,917 ABM INDUSTRIES INC 55,296 1,327,233 2,108,989 ADTALEM GLOBAL EDUCATION INC 42,981 1,155,693 1,426,969 AMERICAN PUBLIC EDUCATION INC 12,256 434,806 385,329 AMN HEALTHCARE SERVICES INC 38,978 1,317,728 2,098,576 ARLO TECHNOLOGIES INC 64,672 302,408 370,571 ASGN INC 43,566 1,214,365 3,126,732 AUTOMATIC DATA PROCESSING INC 74,974 2,859,154 10,428,134 AVIS BUDGET GROUP INC 44,441 1,413,300 1,515,883 BRINK'S CO/THE 41,897 1,500,009 2,026,139 CARDTRONICS PLC 29,872 1,050,842 648,521 CINTAS CORP 14,701 831,874 4,898,961 CORELOGIC INC/ 65,893 1,728,224 4,375,295 CORVEL CORP 7,302 224,777 606,212 CROSS COUNTRY HEALTHCARE INC 31,081 365,545 198,608 DELUXE CORP 34,717 1,166,728 985,963 EQUIFAX INC 21,174 830,061 3,562,949 EVERTEC INC 49,488 948,262 1,733,070 FLEETCOR TECHNOLOGIES INC 14,616 3,209,436 3,675,193 FORRESTER RESEARCH INC 8,870 258,452 314,530 FTI CONSULTING INC 30,787 2,031,702 3,533,116 GARTNER INC 15,557 1,697,289 2,019,610 GLOBAL PAYMENTS INC 52,180 3,449,823 9,216,032 GRAHAM HOLDINGS CO 3,537 1,600,399 1,513,659 GRAND CANYON EDUCATION INC 39,250 3,568,788 3,691,070

Page 7 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Business Services GREEN DOT CORP 40,445 1,204,329 2,105,567 H&R BLOCK INC 33,574 682,424 486,823 HEALTHEQUITY INC 63,066 3,015,963 3,625,034 HEIDRICK & STRUGGLES INTERNATI 15,991 352,926 345,885 HMS HOLDINGS CORP 73,375 1,262,163 2,046,429 IHS MARKIT LTD 69,584 3,413,854 5,561,153 INSPERITY INC 30,236 934,685 2,036,999 KELLY SERVICES INC 27,654 553,138 525,149 KORN FERRY 45,663 985,860 1,392,722 LIVERAMP HOLDINGS INC 54,215 1,286,582 3,027,366 MANPOWERGROUP INC 48,175 2,459,231 3,531,709 MARKETAXESS HOLDINGS INC 6,613 2,133,558 3,213,521 MEDIFAST INC 9,769 648,570 1,589,612 MONRO INC 27,622 988,786 1,273,098 MOODY'S CORP 28,127 999,728 8,287,339 NIELSEN HOLDINGS PLC 62,181 2,287,136 950,126 PAYLOCITY HOLDING CORP 29,835 3,458,766 4,393,204 PAYPAL HOLDINGS INC 204,846 5,306,294 41,817,262 PERDOCEO EDUCATION CORP 57,302 1,085,088 823,430 QUANTA SERVICES INC 24,010 590,308 1,230,513 RENT‐A‐CENTER INC/TX 40,152 997,414 1,232,666 RESOURCES CONNECTION INC 25,061 276,879 308,000 ROBERT HALF INTERNATIONAL INC 19,990 493,732 1,063,468 ROLLINS INC 24,584 988,352 1,355,562 RR DONNELLEY & SONS CO 59,098 655,132 78,009 S&P GLOBAL INC 42,021 1,853,619 15,397,335 SABRE CORP 258,237 4,511,662 1,805,077 SERVICE CORP INTERNATIONAL/US 147,835 3,239,606 6,748,668 STRATEGIC EDUCATION INC 19,979 2,063,155 2,049,246 TEAM INC 25,415 564,649 161,894 TRUEBLUE INC 29,982 465,485 507,295 UNITED RENTALS INC 12,568 1,438,888 2,225,164 VERISK ANALYTICS INC 28,303 2,450,623 5,283,321 VIAD CORP 16,906 446,422 362,296 WEX INC 36,095 2,871,894 5,764,732 WW INTERNATIONAL INC 38,673 2,014,062 908,042 Business Services Total 2,671,341 $ 94,810,995 $ 201,107,744

Capital Goods & Vehicles GATX CORP 28,950 1,169,367 1,936,176 GREENBRIER COS INC/THE 27,104 892,054 736,958 Capital Goods & Vehicles Total 56,054 $ 2,061,421 $ 2,673,134

Page 8 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Construction & Machinery AAON INC 33,668 691,208 1,916,720 AECOM 132,849 3,419,794 5,248,864 AEGION CORP 25,460 416,817 412,070 AGCO CORP 51,564 1,711,111 3,666,200 ALAMO GROUP INC 8,067 571,738 894,630 ALBANY INTERNATIONAL CORP 25,473 939,612 1,322,049 AMERICAN WOODMARK CORP 12,915 655,267 1,130,063 APOGEE ENTERPRISES INC 21,830 356,122 456,902 APPLIED INDUSTRIAL TECHNOLOGIE 32,109 866,798 1,933,283 ARCOSA INC 39,997 699,627 1,851,461 ASTEC INDUSTRIES INC 18,729 542,834 987,393 BOISE CASCADE CO 32,526 1,000,455 1,489,691 BUILDERS FIRSTSOURCE INC 82,115 2,454,654 2,514,361 CARRIER GLOBAL CORP 142,022 1,240,693 4,239,357 CATERPILLAR INC 94,411 3,838,048 13,435,629 CAVCO INDUSTRIES INC 7,155 822,424 1,365,961 CENTURY COMMUNITIES INC 23,788 599,393 848,756 CHART INDUSTRIES INC 29,208 1,203,463 1,919,550 CIRCOR INTERNATIONAL INC 16,588 451,771 491,834 COGNEX CORP 142,474 3,084,480 9,857,776 COMFORT SYSTEMS USA INC 30,260 644,749 1,533,274 CRANE CO 40,882 1,660,823 2,311,468 CURTISS‐WRIGHT CORP 34,551 1,661,134 3,535,258 DEERE & CO 54,573 2,383,718 11,463,604 DOVER CORP 25,109 710,711 2,757,973 DR HORTON INC 57,706 1,067,069 4,118,477 DXP ENTERPRISES INC/TX 13,385 635,956 257,527 DYCOM INDUSTRIES INC 26,248 611,149 1,614,514 EAGLE MATERIALS INC 34,523 1,320,424 2,822,946 EMCOR GROUP INC 45,504 1,318,427 3,413,255 EXPONENT INC 42,721 1,148,154 3,437,118 FLOWSERVE CORP 22,698 673,199 673,677 FLUOR CORP 116,323 2,746,796 1,107,395 FORTUNE BRANDS HOME & SECURITY 24,369 1,371,128 2,048,946 GIBRALTAR INDUSTRIES INC 26,895 782,471 1,679,458 GRACO INC 138,257 2,877,276 8,021,671 GRANITE CONSTRUCTION INC 38,787 1,065,431 721,050 GRIFFON CORP 42,305 684,469 919,288 ICHOR HOLDINGS LTD 18,929 429,955 476,254 IDEX CORP 13,151 2,109,043 2,370,205 INC 60,315 1,127,951 2,114,644 INSTALLED BUILDING PRODUCTS IN 17,550 596,698 1,523,691 JACOBS ENGINEERING GROUP INC 22,694 1,771,459 2,048,587 JOHNSON CONTROLS INTERNATIONAL 129,755 4,679,899 5,284,921 KB HOME 72,201 1,195,210 2,581,908

Page 9 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Construction & Machinery KBR INC 118,080 2,269,613 2,950,819 LCI INDUSTRIES 20,852 1,033,285 2,369,413 LENNAR CORP 47,902 2,380,026 3,584,028 LENNOX INTERNATIONAL INC 28,873 2,497,261 8,093,968 LGI HOMES INC 18,085 881,991 2,022,988 LINDSAY CORP 8,985 460,112 897,871 LOUISIANA‐PACIFIC CORP 93,120 1,522,107 3,067,373 M/I HOMES INC 23,672 706,602 1,007,480 MARTIN MARIETTA MATERIALS INC 10,857 1,516,458 2,202,560 MASCO CORP 46,008 943,049 2,682,266 MASTEC INC 48,348 2,101,956 2,234,161 MDC HOLDINGS INC 41,862 1,243,343 1,815,974 MDU RESOURCES GROUP INC 166,236 3,136,323 3,926,494 MERITAGE HOMES CORP 29,326 1,090,776 2,816,176 MIDDLEBY CORP/THE 46,117 3,598,668 4,514,854 MYR GROUP INC 13,837 403,332 537,014 NORDSON CORP 42,604 2,541,801 7,945,220 NVR INC 604 2,133,118 2,517,677 OSHKOSH CORP 56,481 1,977,692 4,349,602 OTIS WORLDWIDE CORP 71,011 1,940,095 4,466,592 OWENS CORNING 89,489 5,064,403 6,053,036 PATRICK INDUSTRIES INC 18,331 754,128 1,030,386 PGT INNOVATIONS INC 48,903 596,281 886,611 PULTEGROUP INC 43,967 825,090 1,960,489 ROCKWELL AUTOMATION INC 20,204 722,713 4,657,628 SIMPSON MANUFACTURING CO INC 32,813 1,274,132 3,226,830 SPX CORP 36,962 763,163 1,546,120 SPX FLOW INC 35,376 1,216,851 1,538,148 TAYLOR MORRISON HOME CORP 107,550 2,544,619 2,530,652 TENNANT CO 15,298 733,167 1,016,858 TEREX CORP 52,910 898,688 1,035,449 THOR INDUSTRIES INC 45,809 1,857,454 4,325,744 TOLL BROTHERS INC 95,909 2,070,272 4,049,278 TOPBUILD CORP 27,657 1,235,136 4,253,647 TREX CO INC 47,996 1,945,525 7,174,922 TRI POINTE GROUP INC 108,085 1,451,435 1,824,475 UFP INDUSTRIES INC 50,704 1,024,195 3,009,282 US CONCRETE INC 13,132 510,306 350,493 VULCAN MATERIALS CO 23,101 1,258,384 2,772,120 WESTINGHOUSE AIR BRAKE TECHNOL 31,533 2,299,011 2,098,521 WINNEBAGO INDUSTRIES INC 27,956 773,863 1,509,065 XYLEM INC/NY 31,383 835,629 2,516,289 Construction & Machinery Total 4,060,567 $ 125,871,661 $ 248,188,232

Page 10 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Consumer Goods ABERCROMBIE & FITCH CO 51,105 1,318,198 664,868 ADVANCE AUTO PARTS INC 12,054 1,887,608 1,884,161 AMERICAN EAGLE OUTFITTERS INC 128,933 1,487,200 1,625,845 AMERICA'S CAR‐MART INC/TX 5,147 557,284 517,274 ASBURY AUTOMOTIVE GROUP INC 16,003 880,626 1,692,957 AUTONATION INC 47,761 1,869,609 2,715,690 AUTOZONE INC 4,072 859,404 4,871,374 AVERY DENNISON CORP 14,530 777,556 1,676,617 AVIENT CORP 75,848 1,102,711 1,935,641 BARNES & NOBLE EDUCATION INC 32,054 271,244 73,083 BED BATH & BEYOND INC 105,025 2,336,632 1,279,205 BEST BUY CO INC 39,650 1,231,445 4,397,582 BIG LOTS INC 32,551 1,020,710 1,534,780 BJ'S RESTAURANTS INC 18,466 492,602 582,048 BJ'S WHOLESALE CLUB HOLDINGS I 102,363 2,797,497 4,545,941 BLOOMIN' BRANDS INC 72,605 1,159,350 1,041,156 BOOT BARN HOLDINGS INC 23,903 652,869 674,782 BRINKER INTERNATIONAL INC 37,304 829,284 1,680,172 BUCKLE INC/THE 23,779 660,147 445,618 CALERES INC 33,383 478,396 260,721 CAPRI HOLDINGS LTD 123,958 1,873,115 1,963,495 CARMAX INC 28,388 663,474 3,035,529 CARTER'S INC 36,175 1,624,410 2,880,254 CASEY'S GENERAL STORES INC 30,521 1,993,699 5,428,160 CATO CORP/THE 17,539 274,232 140,312 CENTRAL GARDEN & PET CO 40,506 874,484 1,533,337 CHEESECAKE FACTORY INC/THE 34,711 798,065 1,025,016 CHICO'S FAS INC 99,896 980,514 127,867 CHILDREN'S PLACE INC/THE 12,064 434,857 240,858 CHIPOTLE MEXICAN GRILL INC 4,476 1,486,897 5,864,813 CHURCH & DWIGHT CO INC 42,892 1,927,250 4,110,340 CHUY'S HOLDINGS INC 13,803 354,136 306,979 CLOROX CO/THE 21,821 1,294,530 4,876,994 COLGATE‐PALMOLIVE CO 149,407 3,983,214 11,841,999 COLUMBIA SPORTSWEAR CO 23,577 2,174,327 2,017,484 CONN'S INC 15,893 272,998 203,113 COPART INC 36,039 2,093,343 3,723,549 CORE‐MARK HOLDING CO INC 37,409 1,158,318 1,250,209 COSTCO WHOLESALE CORP 77,016 5,149,193 26,775,383 COTY INC 51,912 1,131,014 185,845 CRACKER BARREL OLD COUNTRY STO 19,645 1,239,745 2,626,733 CROCS INC 55,898 1,277,596 2,230,889 DAKTRONICS INC 31,003 327,168 137,033 DARDEN RESTAURANTS INC 22,655 750,203 1,963,509 DAVE & BUSTER'S ENTERTAINMENT 39,308 1,113,223 653,692

Page 11 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Consumer Goods DECKERS OUTDOOR CORP 23,228 1,318,664 4,735,492 DESIGNER BRANDS INC 45,078 767,117 317,800 DICK'S SPORTING GOODS INC 54,063 1,573,469 2,925,890 DINE BRANDS GLOBAL INC 13,621 577,693 811,267 DOLLAR GENERAL CORP 43,909 2,577,171 8,864,349 DOLLAR TREE INC 41,381 2,123,228 3,983,749 DOMINO'S PIZZA INC 6,823 2,575,729 2,790,334 DUNKIN' BRANDS GROUP INC 68,137 3,737,189 5,183,863 EDGEWELL PERSONAL CARE CO 45,093 1,412,110 1,294,620 EL POLLO LOCO HOLDINGS INC 16,301 209,148 291,299 ESTEE LAUDER COS INC/THE 39,206 1,729,618 8,692,754 ETHAN ALLEN INTERIORS INC 19,123 466,015 272,312 EXPRESS INC 53,479 706,969 59,362 FASTENAL CO 99,918 1,548,088 4,881,993 FIESTA RESTAURANT GROUP INC 16,800 313,485 168,336 FIRSTCASH INC 34,380 1,274,942 2,054,205 FIVE BELOW INC 46,241 2,295,642 5,061,077 FOOT LOCKER INC 86,457 3,164,893 2,622,241 FOSSIL GROUP INC 38,615 942,553 248,488 FOUNDATION BUILDING MATERIALS 14,688 256,710 238,386 GAMESTOP CORP 53,742 1,291,615 358,997 GAP INC/THE 37,133 902,939 645,743 GENESCO INC 11,563 294,419 225,479 GENUINE PARTS CO 25,164 912,861 2,376,488 G‐III APPAREL GROUP LTD 35,882 1,091,504 396,855 GMS INC 35,112 694,298 930,117 GROUP 1 AUTOMOTIVE INC 14,180 640,690 1,225,719 GUESS? INC 36,485 1,175,552 419,578 HANESBRANDS INC 60,708 1,956,085 928,225 HASBRO INC 22,226 808,449 1,754,520 HAVERTY FURNITURE COS INC 14,327 231,197 302,586 HELEN OF TROY LTD 20,939 1,261,120 4,330,604 HERMAN MILLER INC 48,757 1,121,122 1,161,879 HIBBETT SPORTS INC 13,713 245,611 457,603 HNI CORP 35,376 1,134,237 1,126,726 HOME DEPOT INC/THE 187,608 8,720,229 53,475,784 IAA INC 100,618 4,419,510 5,264,334 INTER PARFUMS INC 14,625 461,974 653,299 INTERFACE INC 48,521 479,192 366,819 IROBOT CORP 23,135 878,894 1,712,684 JACK IN THE BOX INC 18,799 506,558 1,548,850 KAR AUCTION SERVICES INC 107,239 2,469,216 1,859,524 KIMBERLY‐CLARK CORP 59,403 3,510,389 9,371,417 KOHL'S CORP 27,514 1,475,389 587,699 KONTOOR BRANDS INC 38,856 1,387,316 858,718

Page 12 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Consumer Goods L BRANDS INC 40,709 928,390 1,196,845 LA‐Z‐BOY INC 38,195 758,763 1,241,338 LEGGETT & PLATT INC 23,078 519,956 946,198 LITHIA MOTORS INC 18,387 1,083,814 4,577,628 LKQ CORP 53,022 1,639,674 1,682,918 LOWE'S COS INC 131,698 2,874,758 21,689,344 LUMBER LIQUIDATORS HOLDINGS IN 23,907 462,900 573,529 MACY'S INC 257,004 1,758,348 1,791,318 MARINEMAX INC 17,811 331,685 523,822 MATTEL INC 287,897 3,180,832 3,093,453 MCDONALD'S CORP 129,701 4,503,227 27,693,758 MICHAELS COS INC/THE 63,574 1,111,000 715,208 MOHAWK INDUSTRIES INC 10,377 1,481,149 958,108 MOVADO GROUP INC 13,703 325,871 149,500 MSC INDUSTRIAL DIRECT CO INC 37,685 1,964,585 2,483,442 NEWELL BRANDS INC 66,580 2,849,694 1,063,948 NIKE INC 216,301 2,962,684 24,201,919 NORDSTROM INC 89,906 1,478,888 1,438,496 NU SKIN ENTERPRISES INC 43,059 2,034,181 2,035,399 ODP CORP/THE 43,674 1,724,680 1,021,098 OLLIE'S BARGAIN OUTLET HOLDING 46,920 2,005,373 4,482,737 O'REILLY AUTOMOTIVE INC 12,948 643,610 6,028,977 OXFORD INDUSTRIES INC 13,910 554,602 688,962 PAPA JOHN'S INTERNATIONAL INC 18,479 456,165 1,816,301 PC CONNECTION INC 9,089 456,603 402,552 PETMED EXPRESS INC 16,732 308,152 581,604 PITNEY BOWES INC 143,254 1,494,368 786,464 POOL CORP 33,143 2,736,037 10,865,601 PRICESMART INC 18,529 1,239,331 1,218,282 PROCTER & GAMBLE CO/THE 431,835 19,629,424 59,735,736 PVH CORP 12,374 1,446,122 689,974 QUANEX BUILDING PRODUCTS CORP 27,212 381,091 457,434 RALPH LAUREN CORP 8,334 725,715 573,629 RED ROBIN GOURMET BURGERS INC 10,701 398,721 118,781 REGIS CORP 20,062 413,770 148,258 RESIDEO TECHNOLOGIES INC 102,062 2,077,463 1,363,548 RH 13,760 1,123,385 4,548,368 ROSS STORES INC 61,991 904,038 5,646,140 RUTH'S HOSPITALITY GROUP INC 26,107 275,755 268,249 SALLY BEAUTY HOLDINGS INC 93,658 2,133,411 1,045,223 SCANSOURCE INC 21,021 552,832 519,008 SCOTTS MIRACLE‐GRO CO/THE 32,694 1,771,888 5,509,920 SHAKE SHACK INC 29,147 1,460,005 1,989,283 SHOE CARNIVAL INC 7,359 201,804 241,964 SIGNET JEWELERS LTD 43,439 1,379,751 750,192

Page 13 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Consumer Goods SKECHERS USA INC 113,008 1,845,417 3,373,289 SLEEP NUMBER CORP 22,934 495,651 1,100,832 SONIC AUTOMOTIVE INC 19,989 371,442 844,735 STARBUCKS CORP 203,756 2,531,036 17,211,269 STEVEN MADDEN LTD 63,481 1,038,627 1,343,258 TAPESTRY INC 48,161 1,182,103 709,412 TARGET CORP 87,219 3,379,641 13,188,385 TEMPUR SEALY INTERNATIONAL INC 35,917 1,814,219 3,072,340 TEXAS ROADHOUSE INC 54,060 1,475,858 3,405,239 TIFFANY & CO 19,051 941,944 2,333,748 TJX COS INC/THE 208,950 1,705,907 11,448,371 TORO CO/THE 88,930 2,323,111 6,694,650 TRACTOR SUPPLY CO 20,170 1,457,084 3,001,901 TUPPERWARE BRANDS CORP 40,666 742,943 662,449 ULTA BEAUTY INC 9,823 2,009,599 2,280,704 UNDER ARMOUR INC 67,151 1,713,008 625,844 UNIFI INC 12,087 308,379 147,824 UNIFIRST CORP/MA 12,653 1,045,519 2,437,221 UNIVAR SOLUTIONS INC 114,928 1,942,793 2,090,540 UNIVERSAL ELECTRONICS INC 11,533 394,202 473,776 URBAN OUTFITTERS INC 58,424 1,328,647 1,375,301 VERA BRADLEY INC 19,068 249,291 100,488 VERITIV CORP 10,400 333,565 180,752 VF CORP 55,619 1,039,187 3,656,949 WALGREENS BOOTS ALLIANCE INC 128,534 5,263,941 4,886,863 WALMART INC 246,994 11,683,768 34,295,117 WATSCO INC 27,144 2,672,818 6,650,009 WD‐40 CO 11,336 957,469 2,316,852 WENDY'S CO/THE 147,845 1,314,309 3,095,874 WHIRLPOOL CORP 10,843 824,116 1,927,018 WILLIAMS‐SONOMA INC 64,517 2,201,457 5,662,012 WINGSTOP INC 24,549 1,154,143 4,011,307 WOLVERINE WORLD WIDE INC 67,371 900,480 1,682,928 WORLD FUEL SERVICES CORP 52,536 1,076,440 1,386,950 WW GRAINGER INC 7,555 578,095 2,760,824 HOLDINGS CORP 31,943 827,982 602,445 YUM! BRANDS INC 52,502 849,067 5,032,317 ZEBRA TECHNOLOGIES CORP 9,261 2,310,001 2,653,554 ZUMIEZ INC 16,671 502,381 428,111 Consumer Goods Total 8,999,821 $ 269,091,311 $ 635,786,885

Energy & Utilities ACUITY BRANDS INC 32,885 3,742,117 3,593,998 AES CORP/THE 115,982 2,209,772 2,058,681 ALLETE INC 42,969 2,105,288 2,318,607

Page 14 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Energy & Utilities ALLIANT ENERGY CORP 43,522 1,781,116 2,356,716 AMEREN CORP 43,067 1,884,840 3,407,030 AMERICAN ELECTRIC POWER CO INC 86,446 3,278,493 6,814,538 AMETEK INC 40,021 1,961,176 4,030,115 ANTERO MIDSTREAM CORP 233,321 1,481,457 1,579,583 APACHE CORP 65,836 3,241,302 974,373 ARCHROCK INC 106,606 1,616,807 699,335 ATMOS ENERGY CORP 21,335 2,056,656 2,129,660 AVISTA CORP 55,761 1,616,898 2,055,350 BAKER HUGHES CO 114,260 3,494,874 1,631,633 BELDEN INC 31,750 940,103 1,069,340 BLACK HILLS CORP 52,077 2,404,809 2,920,478 BONANZA CREEK ENERGY INC 15,502 470,815 310,660 CABOT OIL & GAS CORP 69,525 1,153,434 1,318,889 CALLON PETROLEUM CO 32,932 1,547,063 218,339 CENTERPOINT ENERGY INC 95,012 1,763,706 1,906,891 CHAMPIONX CORP 154,157 3,035,086 1,578,568 CHEVRON CORP 325,664 14,838,773 27,332,980 CIMAREX ENERGY CO 84,620 2,468,165 2,350,744 CMS ENERGY CORP 49,927 1,003,139 3,020,084 CNX RESOURCES CORP 155,247 1,472,400 1,701,507 COLFAX CORP 69,716 1,866,526 2,320,148 CONCHO RESOURCES INC 34,309 3,759,215 1,783,382 CONOCOPHILLIPS 187,067 3,714,148 7,087,969 CONSOL ENERGY INC 21,567 337,565 111,501 CONSOLIDATED EDISON INC 58,278 2,933,888 4,157,553 CORE LABORATORIES NV 36,880 2,905,341 771,898 DENBURY INC 51,000 238,709 1,377 DEVON ENERGY CORP 66,756 1,915,764 725,638 DIAMONDBACK ENERGY INC 27,528 2,896,143 1,072,491 DMC GLOBAL INC 12,232 701,168 433,380 DOMINION ENERGY INC 146,393 7,008,458 11,483,067 DRIL‐QUIP INC 29,080 1,139,577 963,420 DTE ENERGY CO 33,598 1,812,145 3,987,075 DUKE ENERGY CORP 128,183 6,720,168 10,298,222 EDISON INTERNATIONAL 65,925 1,950,644 3,459,744 EMERSON ELECTRIC CO 104,219 3,370,740 7,240,094 ENCORE WIRE CORP 17,048 546,661 879,847 ENERGIZER HOLDINGS INC 52,837 1,177,036 2,445,825 ENERSYS 35,219 1,312,371 2,535,064 ENPHASE ENERGY INC 67,532 3,254,886 5,215,496 ENTERGY CORP 34,915 2,115,423 3,461,473 EOG RESOURCES INC 101,528 3,097,294 4,603,280 EQT CORP 212,089 3,527,440 3,365,852 EQUITRANS MIDSTREAM CORP 337,308 4,279,543 3,467,526

Page 15 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Energy & Utilities EVERGY INC 39,551 2,136,590 2,104,904 EVERSOURCE ENERGY 58,687 2,484,100 5,030,063 EXELON CORP 169,970 5,885,148 6,273,593 EXTERRAN CORP 23,104 636,532 106,278 EXXON MOBIL CORP 737,542 24,324,899 29,457,427 FIRST SOLAR INC 63,279 2,334,226 4,846,539 FIRSTENERGY CORP 94,500 3,452,436 2,701,755 FRANKLIN ELECTRIC CO INC 31,793 1,001,445 1,887,232 FUTUREFUEL CORP 21,416 330,673 259,134 GENERAC HOLDINGS INC 52,020 5,864,554 9,882,760 GEOSPACE TECHNOLOGIES CORP 11,333 384,889 74,231 GREEN PLAINS INC 27,688 512,346 370,465 GULFPORT ENERGY CORP 120,739 2,620,203 85,206 HALLIBURTON CO 153,026 3,223,571 2,475,961 HAWAIIAN ELECTRIC INDUSTRIES I 90,451 2,642,159 3,130,509 HELIX ENERGY SOLUTIONS GROUP I 118,269 948,910 423,403 HELMERICH & PAYNE INC 89,147 1,654,801 1,469,143 HESS CORP 45,539 1,603,615 2,096,616 HOLLYFRONTIER CORP 25,979 1,806,474 620,119 IDACORP INC 41,818 2,088,831 3,759,438 INSTEEL INDUSTRIES INC 15,181 486,101 279,938 KENNAMETAL INC 68,807 1,594,606 1,996,779 KINDER MORGAN INC 339,252 12,150,529 4,688,463 LAREDO PETROLEUM INC 7,540 809,532 123,279 LINCOLN ELECTRIC HOLDINGS INC 49,277 2,335,955 4,765,579 LITTELFUSE INC 20,137 1,743,210 3,641,575 MARATHON OIL CORP 137,857 1,560,963 727,885 MARATHON PETROLEUM CORP 113,428 2,225,945 4,022,157 MATADOR RESOURCES CO 90,813 1,690,604 883,610 MATRIX SERVICE CO 21,657 406,814 200,111 MSA SAFETY INC 29,651 1,906,021 3,734,543 MURPHY OIL CORP 121,209 2,618,162 1,665,412 MURPHY USA INC 22,745 1,330,114 3,067,391 NABORS INDUSTRIES LTD 5,632 2,337,901 225,167 NATIONAL FUEL GAS CO 74,896 2,613,015 3,418,253 NATIONAL OILWELL VARCO INC 67,719 2,028,350 812,628 NEW JERSEY RESOURCES CORP 79,451 1,736,641 2,394,653 NEWPARK RESOURCES INC 74,503 677,092 145,281 NEXTERA ENERGY INC 85,377 5,507,930 23,834,697 NISOURCE INC 66,773 855,070 1,479,690 NOBLE ENERGY INC 83,675 2,846,477 832,566 NORTHWEST NATURAL HOLDING CO 25,334 1,132,796 1,294,821 NORTHWESTERN CORP 41,851 1,834,424 2,161,186 NOW INC 90,716 2,203,205 659,505 NRG ENERGY INC 42,577 1,044,309 1,465,075

Page 16 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Energy & Utilities OASIS PETROLEUM INC 242,037 1,912,824 134,427 OCCIDENTAL PETROLEUM CO CW27 19,825 98,137 58,484 OCCIDENTAL PETROLEUM CORP 157,003 4,594,594 2,000,218 OCEANEERING INTERNATIONAL INC 82,375 846,648 444,001 OGE ENERGY CORP 166,111 3,259,131 5,292,296 OIL STATES INTERNATIONAL INC 50,573 694,164 222,015 ONE GAS INC 43,862 2,142,277 3,251,051 ONEOK INC 76,727 2,903,847 2,108,458 PAR PACIFIC HOLDINGS INC 32,169 550,974 279,227 PATTERSON‐UTI ENERGY INC 154,778 2,139,193 595,895 PBF ENERGY INC 84,529 1,833,394 723,568 PDC ENERGY INC 79,297 2,599,792 1,200,557 PENN VIRGINIA CORP 11,193 685,982 127,824 PHILLIPS 66 76,171 1,629,894 4,453,718 PINNACLE WEST CAPITAL CORP 19,623 845,037 1,439,347 PIONEER NATURAL RESOURCES CO 28,758 2,470,814 2,988,819 PNM RESOURCES INC 66,007 1,643,874 2,883,186 POWELL INDUSTRIES INC 7,320 222,090 197,567 PPL CORP 134,099 3,211,324 3,705,155 PROPETRO HOLDING CORP 68,326 965,340 429,087 PUBLIC SERVICE ENTERPRISE GROU 88,198 2,251,295 4,607,464 QEP RESOURCES INC 200,740 2,415,001 260,962 RANGE RESOURCES CORP 175,937 2,215,266 1,312,490 REGAL BELOIT CORP 33,615 1,610,215 3,323,179 RENEWABLE ENERGY GROUP INC 32,406 651,675 1,083,333 REX AMERICAN RESOURCES CORP 4,552 283,605 281,223 RING ENERGY INC 48,747 508,533 33,401 RPC INC 42,815 211,371 134,011 SCHLUMBERGER LTD 242,081 10,262,576 4,601,960 SEMPRA ENERGY 51,027 3,067,977 6,309,489 SM ENERGY CO 88,130 1,697,025 214,156 SNAP‐ON INC 9,481 409,290 1,405,748 SOLAREDGE TECHNOLOGIES INC 41,134 2,201,699 9,096,784 SOUTH JERSEY INDUSTRIES INC 76,730 1,723,028 1,699,570 SOUTHERN CO/THE 184,194 6,407,835 9,611,243 SOUTHWEST GAS HOLDINGS INC 45,744 1,981,966 2,875,925 SOUTHWESTERN ENERGY CO 449,558 2,680,814 1,249,771 SPIRE INC 42,503 2,194,147 2,474,100 STANLEY BLACK & DECKER INC 26,885 1,352,642 4,336,551 SUNCOKE ENERGY INC 68,596 672,248 245,574 SUNRUN INC 65,899 1,114,068 3,726,918 TALOS ENERGY INC 16,805 353,136 126,206 TECHNIPFMC PLC 73,366 2,490,551 564,918 TRANSOCEAN LTD 479,449 3,250,947 584,928 UGI CORP 172,842 4,288,667 5,968,234

Page 17 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Energy & Utilities UNIVERSAL DISPLAY CORP 35,173 3,787,791 6,172,862 US SILICA HOLDINGS INC 61,241 1,397,441 273,135 VALARIS PLC 156,785 4,416,242 15,130 VALERO ENERGY CORP 71,116 1,527,954 3,739,990 VICOR CORP 15,343 354,069 1,335,301 WARRIOR MET COAL INC 42,448 799,159 656,671 WEC ENERGY GROUP INC 55,023 1,912,446 5,176,564 WILLIAMS COS INC/THE 211,622 5,556,718 4,393,273 WPX ENERGY INC 338,485 4,094,481 1,881,977 XCEL ENERGY INC 91,582 2,244,509 6,362,659 Energy & Utilities Total 13,232,575 $ 363,397,027 $ 433,495,041

Food & Beverage AMERICAN STATES WATER CO 30,594 1,059,425 2,327,592 AMERICAN WATER WORKS CO INC 31,577 2,278,086 4,463,093 B&G FOODS INC 53,203 1,154,913 1,656,741 BOSTON BEER CO INC/THE 8,010 1,673,279 7,064,660 BROWN‐FORMAN CORP 31,811 770,211 2,327,611 CALAVO GROWERS INC 13,609 554,956 863,763 CALIFORNIA WATER SERVICE GROUP 40,372 1,359,101 1,830,466 CAL‐MAINE FOODS INC 30,187 838,884 1,164,916 CAMPBELL SOUP CO 29,516 1,058,507 1,552,837 CHEFS' WAREHOUSE INC/THE 25,645 680,523 379,802 COCA‐COLA CO/THE 674,256 16,092,279 33,395,900 COCA‐COLA CONSOLIDATED INC 3,834 803,980 1,047,832 CONAGRA BRANDS INC 84,962 1,895,146 3,259,142 CONSTELLATION BRANDS INC 29,297 1,327,198 5,404,711 ESSENTIAL UTILITIES INC 185,048 4,705,127 7,864,540 FLOWERS FOODS INC 159,774 1,975,429 3,908,072 GENERAL MILLS INC 105,731 3,037,658 6,761,497 GROCERY OUTLET HOLDING CORP 52,811 2,088,830 2,172,116 HAIN CELESTIAL GROUP INC/THE 65,140 1,228,625 2,135,941 HEALTHCARE SERVICES GROUP INC 61,753 1,016,193 1,284,462 HERSHEY CO/THE 25,711 1,276,458 3,821,683 HORMEL FOODS CORP 48,886 649,946 2,492,208 INGREDION INC 55,572 2,283,052 4,470,212 J & J SNACK FOODS CORP 12,369 801,449 1,681,566 J M SMUCKER CO/THE 19,892 1,230,369 2,390,621 JOHN B SANFILIPPO & SON INC 7,411 537,009 590,212 KELLOGG CO 43,635 1,791,041 3,094,158 KRAFT HEINZ CO/THE 108,696 2,870,605 3,808,708 KROGER CO/THE 137,138 1,699,010 4,893,084 LAMB WESTON HOLDINGS INC 25,474 1,924,867 1,601,041 LANCASTER COLONY CORP 16,423 1,248,907 2,918,696 MCCORMICK & CO INC/MD 21,567 972,253 4,447,115

Page 18 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Food & Beverage MGP INGREDIENTS INC 10,920 760,071 388,206 MOLSON COORS BEVERAGE CO 32,803 1,673,920 1,234,705 MONDELEZ INTERNATIONAL INC 248,997 4,243,514 14,546,405 MONSTER BEVERAGE CORP 65,212 1,877,263 5,468,678 NATIONAL BEVERAGE CORP 9,667 422,265 786,120 PEPSICO INC 242,026 10,600,391 33,898,162 PILGRIM'S PRIDE CORP 42,992 1,178,246 687,872 POST HOLDINGS INC 53,111 2,902,987 4,674,830 SENECA FOODS CORP 5,601 161,441 265,263 SPARTANNASH CO 29,601 612,142 591,428 SPROUTS FARMERS MARKET INC 97,754 2,217,599 2,282,556 SYSCO CORP 88,545 2,883,674 5,325,096 TOOTSIE ROLL INDUSTRIES INC 14,192 353,437 454,002 TREEHOUSE FOODS INC 46,828 2,043,062 2,004,707 TYSON FOODS INC 51,337 1,296,391 3,223,964 UNITED NATURAL FOODS INC 44,491 901,160 803,063 Food & Beverage Total 3,323,981 $ 97,010,879 $ 203,710,055

Health & Pharmaceutical ABBOTT LABORATORIES 308,550 8,794,479 33,776,968 ABBVIE INC 307,408 12,480,563 29,440,464 ABIOMED INC 7,842 2,932,914 2,412,356 ACADIA HEALTHCARE CO INC 73,803 2,712,175 2,281,251 ADDUS HOMECARE CORP 11,229 832,192 1,051,708 ALIGN TECHNOLOGY INC 12,502 1,921,224 3,712,844 AMEDISYS INC 26,870 2,120,997 6,499,853 AMERISOURCEBERGEN CORP 25,901 566,048 2,513,174 AMPHASTAR PHARMACEUTICALS INC 27,979 541,178 570,212 ANGIODYNAMICS INC 31,270 463,469 292,844 ANIKA THERAPEUTICS INC 11,768 420,197 451,067 ANTHEM INC 43,977 2,442,275 12,380,405 AVANOS MEDICAL INC 39,629 1,423,098 1,283,980 BAXTER INTERNATIONAL INC 88,758 2,660,961 7,728,159 BECTON DICKINSON AND CO 51,435 5,799,161 12,486,875 BIO‐TECHNE CORP 31,717 2,985,792 8,102,425 BIOTELEMETRY INC 28,319 807,646 1,120,866 BOSTON SCIENTIFIC CORP 249,212 3,804,503 10,222,676 BRISTOL MYERS SQUIBB CO 394,689 14,174,702 24,549,656 CANTEL MEDICAL CORP 30,786 833,233 1,615,649 CARDINAL HEALTH INC 50,932 2,164,495 2,585,308 CARDIOVASCULAR SYSTEMS INC 29,272 1,119,552 956,316 CATALENT INC 134,979 5,539,793 12,485,558

Page 19 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Health & Pharmaceutical CENTENE CORP 100,892 4,796,935 6,186,697 CHARLES RIVER LABORATORIES INT 41,069 3,066,967 8,992,058 CHEMED CORP 13,160 1,928,755 6,805,168 CIGNA CORP 64,362 6,426,811 11,415,888 COHERUS BIOSCIENCES INC 50,609 943,657 960,053 COMMUNITY HEALTH SYSTEMS INC 99,314 1,976,884 513,453 CONMED CORP 23,682 1,010,216 2,043,993 COOPER COS INC/THE 8,571 1,652,911 2,694,551 CORCEPT THERAPEUTICS INC 85,589 1,429,374 1,086,980 COVETRUS INC 80,819 2,610,179 1,851,563 CRYOLIFE INC 31,307 501,723 633,028 CUTERA INC 14,485 469,945 237,119 CVS HEALTH CORP 228,000 8,249,490 14,163,360 CYTOKINETICS INC 55,398 792,696 1,327,336 DANAHER CORP 109,762 4,245,931 22,662,560 DAVITA INC 14,873 509,616 1,290,381 DENTSPLY SIRONA INC 38,215 2,247,905 1,714,707 DEXCOM INC 16,101 6,748,116 6,849,526 EAGLE PHARMACEUTICALS INC/DE 8,391 465,044 332,955 EDWARDS LIFESCIENCES CORP 108,090 2,010,669 9,278,446 ELI LILLY AND CO 146,907 8,727,466 21,799,530 ENANTA PHARMACEUTICALS INC 13,446 697,366 701,747 ENCOMPASS HEALTH CORP 82,486 3,857,648 5,381,387 ENDO INTERNATIONAL PLC 169,664 1,653,749 510,689 ENSIGN GROUP INC/THE 41,869 756,799 2,451,011 GLAUKOS CORP 33,019 1,253,274 1,579,299 GLOBUS MEDICAL INC 62,783 2,004,502 3,548,495 HAEMONETICS CORP 41,817 1,775,776 3,749,312 HANGER INC 31,311 727,396 618,705 HCA HEALTHCARE INC 45,936 3,422,886 6,234,434 HENRY SCHEIN INC 24,902 1,342,339 1,654,489 HESKA CORP 6,997 656,982 724,889 HILL‐ROM HOLDINGS INC 55,236 2,975,219 5,180,584 HOLOGIC INC 45,039 1,584,652 2,689,729 HUMANA INC 23,061 1,006,838 9,574,235 ICU MEDICAL INC 16,071 1,839,232 3,218,057 IDEXX LABORATORIES INC 14,815 1,813,505 5,793,554 INOGEN INC 15,182 874,720 458,952 INTEGER HOLDINGS CORP 27,239 1,282,966 1,886,573 INTEGRA LIFESCIENCES HOLDINGS 58,440 1,886,479 2,792,848 INTUITIVE SURGICAL INC 20,342 3,239,411 14,866,747 INVACARE CORP 28,561 621,554 193,644 IQVIA HOLDINGS INC 30,979 3,259,031 5,072,811 JOHNSON & JOHNSON 459,561 23,526,205 70,501,253 LABORATORY CORP OF AMERICA HOL 16,955 1,391,184 2,979,841

Page 20 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Health & Pharmaceutical LANNETT CO INC 27,790 781,197 146,175 LANTHEUS HOLDINGS INC 54,797 986,100 735,376 LEMAITRE VASCULAR INC 13,724 412,310 443,011 LHC GROUP INC 24,638 1,617,829 5,135,545 LIVANOVA PLC 40,319 2,778,443 1,890,961 LUMINEX CORP 35,325 846,200 942,824 MAGELLAN HEALTH INC 18,436 883,629 1,391,181 MASIMO CORP 41,311 3,229,612 9,253,664 MCKESSON CORP 28,233 1,330,669 4,332,072 MEDNAX INC 70,865 1,317,991 1,316,672 MEDPACE HOLDINGS INC 22,306 1,333,315 2,895,096 MEDTRONIC PLC 233,929 17,788,985 25,140,350 MERCK & CO INC 440,288 18,126,904 37,543,358 MERIDIAN BIOSCIENCE INC 35,547 585,126 502,635 MERIT MEDICAL SYSTEMS INC 45,959 1,223,097 2,256,587 MOLINA HEALTHCARE INC 49,125 4,310,590 9,086,651 MOMENTA PHARMACEUTICALS INC 97,671 1,972,724 5,095,496 MYLAN NV 90,173 4,542,550 1,477,034 NATUS MEDICAL INC 28,041 672,225 509,225 NEOGEN CORP 43,898 1,298,017 3,345,028 NUVASIVE INC 42,513 1,647,580 2,216,203 ORASURE TECHNOLOGIES INC 59,112 740,416 692,793 ORTHOFIX MEDICAL INC 15,933 602,924 483,407 OWENS & MINOR INC 52,286 820,059 866,902 PACIRA BIOSCIENCES INC 34,950 1,383,877 2,185,074 PATTERSON COS INC 71,545 1,617,433 2,075,520 PENNANT GROUP INC/THE 21,760 179,453 805,990 PENUMBRA INC 27,423 4,183,731 5,735,520 PERRIGO CO PLC 23,777 2,654,820 1,243,537 PFIZER INC 968,949 25,886,825 36,616,583 PHIBRO ANIMAL HEALTH CORP 16,830 514,010 361,172 PRA HEALTH SCIENCES INC 52,806 4,710,920 5,645,489 PRESTIGE CONSUMER HEALTHCARE I 41,552 840,816 1,513,739 PROVIDENCE SERVICE CORP/THE 9,495 482,906 879,142 QUEST DIAGNOSTICS INC 23,327 954,277 2,594,895 QUIDEL CORP 31,714 6,702,758 5,580,395 RADNET INC 34,717 625,380 500,619 REPLIGEN CORP 39,058 2,025,519 6,050,475 RESMED INC 25,234 2,100,095 4,561,803 SELECT MEDICAL HOLDINGS CORP 89,175 1,297,695 1,789,742 SPECTRUM PHARMACEUTICALS INC 95,138 882,078 400,531 STERIS PLC 14,819 2,205,331 2,365,705 STRYKER CORP 56,229 3,628,865 11,142,339 SUPERNUS PHARMACEUTICALS INC 43,597 928,706 958,698 SURMODICS INC 11,287 394,512 510,737

Page 21 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Health & Pharmaceutical SYNEOS HEALTH INC 51,855 2,368,370 3,272,051 TACTILE SYSTEMS TECHNOLOGY INC 15,957 568,790 613,228 TELEFLEX INC 8,098 2,075,428 3,182,109 TENET HEALTHCARE CORP 86,901 2,294,321 2,448,870 THERMO FISHER SCIENTIFIC INC 68,893 4,550,065 29,553,719 TIVITY HEALTH INC 36,197 687,389 592,183 UNITEDHEALTH GROUP INC 165,429 8,083,173 51,704,834 UNIVERSAL HEALTH SERVICES INC 13,548 1,530,844 1,495,022 US PHYSICAL THERAPY INC 10,649 636,668 946,696 USANA HEALTH SCIENCES INC 10,099 681,303 791,863 VANDA PHARMACEUTICALS INC 45,015 876,624 463,204 VAREX IMAGING CORP 32,447 865,343 359,837 VARIAN MEDICAL SYSTEMS INC 15,841 770,543 2,751,106 WEST PHARMACEUTICAL SERVICES I 12,839 2,709,339 3,645,762 BIOMET HOLDINGS INC 36,073 2,323,986 5,081,964 ZOETIS INC 82,846 3,095,290 13,263,645 ZYNEX INC 12,671 302,345 186,771 Health & Pharmaceutical Total 8,775,093 $ 370,269,970 $ 785,292,066

Industrial Commodities ALLEGHENY TECHNOLOGIES INC 105,087 2,458,297 875,376 ARCONIC CORP 79,645 847,401 1,772,101 CARPENTER TECHNOLOGY CORP 39,668 1,088,192 834,218 CENTURY ALUMINUM CO 41,563 579,704 410,227 CLEARWATER PAPER CORP 13,742 180,235 462,556 CLEVELAND‐CLIFFS INC 330,805 1,950,083 2,176,697 COMMERCIAL METALS CO 98,806 1,088,820 2,062,081 COMPASS MINERALS INTERNATIONAL 28,125 2,090,741 1,601,156 DOMTAR CORP 45,745 2,018,299 1,304,647 FREEPORT‐MCMORAN INC 253,272 5,009,736 3,953,576 INTERNATIONAL PAPER CO 68,559 2,716,166 2,486,635 KAISER ALUMINUM CORP 13,092 735,198 841,554 LIVENT CORP 121,309 1,330,899 1,028,700 MERCER INTERNATIONAL INC 33,306 428,744 279,104 NEENAH INC 13,922 531,704 616,466 NEWMONT CORP 139,997 4,743,862 9,418,998 NUCOR CORP 52,528 1,111,260 2,387,923 P H GLATFELTER CO 36,763 604,808 551,077 RELIANCE STEEL & ALUMINUM CO 52,818 2,424,428 5,539,024 ROYAL GOLD INC 54,426 4,432,673 7,419,352 SCHWEITZER‐MAUDUIT INTERNATION 25,873 556,420 784,728 STEEL DYNAMICS INC 174,552 2,852,743 5,152,775 UNITED STATES STEEL CORP 182,601 3,251,052 1,429,766 Industrial Commodities Total 2,006,204 $ 43,031,465 $ 53,388,737

Page 22 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Industrial Manufacturing 3M CO 100,333 6,990,498 16,356,287 A O SMITH CORP 23,566 1,277,837 1,154,027 PLC 72,441 2,539,547 1,256,127 AMERICAN AXLE & MANUFACTURING 93,733 1,267,150 729,243 APTARGROUP INC 53,259 2,610,160 6,305,333 PLC 46,754 1,671,093 4,026,454 AXON ENTERPRISE INC 52,127 1,987,315 4,466,241 AZZ INC 21,700 455,496 753,641 BORGWARNER INC 8,436 271,977 342,417 CARLISLE COS INC 45,558 2,685,028 5,965,820 COOPER TIRE & RUBBER CO 41,712 1,370,270 1,441,984 COOPER‐STANDARD HOLDINGS INC 13,998 1,047,223 253,644 INC 25,733 944,983 5,333,164 DANA INC 119,908 2,141,199 1,672,717 DELPHI TECHNOLOGIES PLC 136,064 3,946,957 2,363,432 DONALDSON CO INC 104,662 2,578,815 5,270,778 DORMAN PRODUCTS INC 23,956 1,140,641 2,028,834 EATON CORP PLC 69,773 1,996,267 7,123,823 ENERPAC TOOL GROUP CORP 44,076 819,196 916,781 ENPRO INDUSTRIES INC 17,014 681,194 995,659 ESCO TECHNOLOGIES INC 21,600 1,081,205 1,942,272 FABRINET 30,463 1,024,138 2,125,708 FEDERAL SIGNAL CORP 49,989 931,902 1,605,647 FORD MOTOR CO 681,370 7,561,283 4,646,943 FOX FACTORY HOLDING CORP 34,023 1,347,094 3,429,859 GARRETT MOTION INC 62,721 910,132 172,483 GENERAL ELECTRIC CO 1,525,786 28,749,547 9,673,483 CO 219,672 7,640,390 6,508,881 GENTEX CORP 203,210 2,735,458 5,496,831 GENTHERM INC 27,049 1,219,843 1,223,426 GOODYEAR TIRE & RUBBER CO/THE 193,115 3,194,452 1,852,938 HAYNES INTERNATIONAL INC 10,417 458,993 195,215 HILLENBRAND INC 61,998 1,555,361 1,965,957 HUNTINGTON INGALLS INDUSTRIES 7,060 1,591,947 1,069,731 ILLINOIS TOOL WORKS INC 50,149 2,233,903 9,906,935 ITT INC 71,606 2,031,007 4,497,573 JOHN BEAN TECHNOLOGIES CORP 26,275 1,017,144 2,693,450 LEAR CORP 45,246 5,750,895 5,154,877 LYDALL INC 14,674 199,487 275,578 MATERION CORP 16,828 403,822 918,641 MERITOR INC 59,969 1,400,180 1,364,894 METHODE ELECTRONICS INC 30,782 574,890 871,438 MOTORCAR PARTS OF AMERICA INC 15,720 441,448 273,685 MUELLER INDUSTRIES INC 47,102 779,228 1,398,929 MYERS INDUSTRIES INC 29,672 434,573 453,982

Page 23 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Industrial Manufacturing OLYMPIC STEEL INC 7,555 322,106 83,105 INC 60,307 1,372,257 5,176,753 PARKER‐HANNIFIN CORP 22,391 939,427 4,612,770 PROTO LABS INC 22,086 1,842,508 3,246,642 RAVEN INDUSTRIES INC 29,726 703,284 738,691 STANDARD MOTOR PRODUCTS INC 16,663 390,466 757,167 STANDEX INTERNATIONAL CORP 10,297 385,992 595,578 STURM RUGER & CO INC 13,774 370,392 976,026 INC 39,709 837,454 1,565,726 TIMKEN CO/THE 56,067 1,269,634 3,038,271 TIMKENSTEEL CORP 33,211 341,230 125,205 TITAN INTERNATIONAL INC 41,726 696,684 99,308 TECHNOLOGIES PLC 41,726 1,310,459 4,939,941 TREDEGAR CORP 20,579 337,754 348,402 TRINITY INDUSTRIES INC 78,230 888,916 1,601,368 TRINSEO SA 31,731 1,047,126 790,419 VALMONT INDUSTRIES INC 17,715 1,319,796 2,250,691 CORP 23,087 2,562,894 1,741,452 CORP 43,849 574,230 535,396 WORTHINGTON INDUSTRIES INC 30,414 688,850 1,263,093 Industrial Manufacturing Total 5,292,142 $ 131,892,627 $ 172,961,766

Information Technology & Electronics 3D SYSTEMS CORP 98,657 1,913,028 541,621 8X8 INC 86,014 1,085,468 1,451,916 ACCENTURE PLC 111,141 8,307,385 26,666,060 ACI WORLDWIDE INC 96,225 1,359,110 2,827,091 ACTIVISION BLIZZARD INC 134,399 5,175,218 11,225,004 ADOBE INC 84,053 4,187,029 43,151,970 ADVANCED ENERGY INDUSTRIES INC 31,752 912,349 2,353,458 ADVANCED MICRO DEVICES INC 204,330 4,322,123 18,557,251 AGILENT TECHNOLOGIES INC 53,861 1,634,490 5,408,722 AGILYSYS INC 16,698 243,890 423,628 AKAMAI TECHNOLOGIES INC 28,312 1,345,073 3,296,366 ALARM.COM HOLDINGS INC 35,190 1,561,181 2,106,825 ALLEGION PLC 16,086 519,135 1,663,132 ALLSCRIPTS HEALTHCARE SOLUTION 134,902 1,850,160 1,204,675 ALPHABET INC‐CL A 52,339 18,753,721 85,287,971 ALPHABET INC‐CL C 51,015 18,123,391 83,367,693 AMAZON.COM INC 73,082 25,822,628 252,203,059 AMPHENOL CORP 51,622 1,294,870 5,668,096 ANALOG DEVICES INC 61,476 2,831,496 7,185,315 ANSYS INC 14,989 1,983,121 5,081,421 APPLE INC 2,842,540 5,332,900 366,801,362 APPLIED MATERIALS INC 159,879 3,386,106 9,848,546

Page 24 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Information Technology & Electronics APPLIED OPTOELECTRONICS INC 16,030 573,602 186,429 ARROW ELECTRONICS INC 65,272 2,177,522 5,127,768 AUTODESK INC 38,240 1,461,625 9,395,568 AVNET INC 81,965 1,956,849 2,254,857 AXCELIS TECHNOLOGIES INC 27,272 735,205 644,437 BADGER METER INC 24,152 768,023 1,489,937 BEL FUSE INC 8,386 175,453 100,800 BENCHMARK ELECTRONICS INC 30,216 596,097 592,536 BLACKBAUD INC 41,177 1,576,866 2,629,151 BOOKING HOLDINGS INC 7,140 2,194,527 13,640,613 BOTTOMLINE TECHNOLOGIES DE INC 31,476 895,220 1,499,202 BRADY CORP 40,187 1,208,718 1,884,368 BROADCOM INC 69,754 7,804,547 24,215,101 BROADRIDGE FINANCIAL SOLUTIONS 20,031 2,276,172 2,752,259 BROOKS AUTOMATION INC 61,202 1,373,724 3,159,859 CABOT MICROELECTRONICS CORP 24,108 1,747,088 3,671,407 CACI INTERNATIONAL INC 20,811 1,943,626 4,873,728 CADENCE DESIGN SYSTEMS INC 48,705 1,931,186 5,401,872 CDK GLOBAL INC 100,861 3,473,875 4,702,140 CDW CORP/DE 24,827 2,969,285 2,821,589 CERIDIAN HCM HOLDING INC 90,218 4,991,599 7,174,135 CERNER CORP 53,088 1,718,581 3,895,067 CEVA INC 18,258 456,233 771,401 CIRRUS LOGIC INC 48,439 1,453,547 2,934,919 CITRIX SYSTEMS INC 20,247 639,958 2,939,864 COGENT COMMUNICATIONS HOLDINGS 34,824 1,658,986 2,342,262 COGNIZANT TECHNOLOGY SOLUTIONS 94,299 2,212,474 6,304,831 COHERENT INC 20,118 1,454,381 2,266,494 COHU INC 34,593 623,334 595,000 COMMVAULT SYSTEMS INC 35,238 960,053 1,523,339 COMPUTER PROGRAMS AND SYSTEMS 10,472 284,978 286,514 COMTECH TELECOMMUNICATIONS COR 20,525 513,088 340,715 CREE INC 89,747 2,838,006 5,663,036 CSG SYSTEMS INTERNATIONAL INC 27,426 692,030 1,167,525 CTS CORP 26,754 404,875 559,159 CUBIC CORP 25,957 1,055,325 1,222,056 DIEBOLD NIXDORF INC 64,301 1,854,316 536,270 DIGI INTERNATIONAL INC 24,021 236,351 327,166 DIODES INC 34,594 965,932 1,690,263 DONNELLEY FINANCIAL SOLUTIONS 25,470 378,768 277,623 DSP GROUP INC 19,252 323,050 276,074 DXC TECHNOLOGY CO 44,267 2,065,988 884,455 E*TRADE FINANCIAL CORP 50,565 1,824,716 2,735,567 EBAY INC 115,216 1,240,760 6,311,532 EBIX INC 18,473 339,117 426,172

Page 25 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Information Technology & Electronics ELECTRONIC ARTS INC 50,357 1,966,791 7,023,291 EPLUS INC 11,200 559,323 859,264 ETSY INC 98,495 5,885,471 11,789,852 EXLSERVICE HOLDINGS INC 28,477 1,053,317 1,813,700 EXPEDIA GROUP INC 23,629 1,667,232 2,319,186 F5 NETWORKS INC 10,624 1,405,792 1,405,874 FACEBOOK INC 419,435 32,419,308 122,978,342 FAIR ISAAC CORP 24,060 2,635,420 10,124,207 FARO TECHNOLOGIES INC 14,692 580,993 830,098 FIDELITY NATIONAL INFORMATION 107,794 9,780,835 16,260,725 FISERV INC 98,120 4,640,994 9,770,790 FLIR SYSTEMS INC 22,821 702,296 842,095 FORMFACTOR INC 63,205 1,051,818 1,651,547 FORTINET INC 23,394 1,863,992 3,088,125 FORTIVE CORP 51,708 1,129,107 3,728,664 GARMIN LTD 25,324 1,354,367 2,623,820 GLU MOBILE INC 109,209 692,552 867,119 GRUBHUB INC 76,300 4,459,028 5,520,305 HEALTHSTREAM INC 20,967 547,409 434,331 HEWLETT PACKARD ENTERPRISE CO 224,126 1,843,319 2,167,298 HONEYWELL INTERNATIONAL INC 122,426 4,368,343 20,267,624 HP INC 249,386 3,263,470 4,875,496 HUBBELL INC 44,981 3,157,428 6,518,647 II‐VI INC 80,092 2,463,821 3,564,094 INSIGHT ENTERPRISES INC 29,255 740,702 1,749,595 INTEL CORP 738,478 17,587,924 37,625,454 INTERNATIONAL BUSINESS MACHINE 154,907 12,733,766 19,101,582 INTUIT INC 45,495 2,714,480 15,713,518 IPG PHOTONICS CORP 6,198 1,456,014 1,002,403 ITRON INC 29,652 1,509,980 1,766,370 J2 GLOBAL INC 37,605 1,426,098 2,631,974 JABIL INC 113,819 2,512,048 3,886,919 JACK HENRY & ASSOCIATES INC 13,366 1,892,512 2,211,004 KEYSIGHT TECHNOLOGIES INC 32,630 1,965,129 3,214,708 KLA CORP 27,045 1,419,498 5,548,011 KNOWLES CORP 71,391 1,764,522 1,075,148 KULICKE & SOFFA INDUSTRIES INC 51,796 693,931 1,242,068 LAM RESEARCH CORP 25,325 1,352,218 8,517,811 LEIDOS HOLDINGS INC 23,295 1,952,326 2,107,965 LIQUIDITY SERVICES INC 22,575 338,304 162,766 LIVEPERSON INC 51,078 897,433 3,047,313 LUMENTUM HOLDINGS INC 62,144 2,874,950 5,344,384 MANHATTAN ASSOCIATES INC 52,681 1,131,385 5,123,227 MANTECH INTERNATIONAL CORP/VA 22,460 969,858 1,681,131 MAXIM INTEGRATED PRODUCTS INC 50,954 2,878,597 3,487,292

Page 26 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Information Technology & Electronics MAXIMUS INC 50,874 1,402,922 3,945,279 MAXLINEAR INC 54,640 1,338,707 1,330,484 MESA LABORATORIES INC 3,352 752,729 824,324 METTLER‐TOLEDO INTERNATIONAL I 4,170 1,726,136 4,048,153 MICROCHIP TECHNOLOGY INC 42,811 2,072,563 4,696,367 INC 194,043 3,567,897 8,830,897 MICROSOFT CORP 1,322,601 40,266,132 298,286,204 MICROSTRATEGY INC 6,412 666,342 926,149 MKS INSTRUMENTS INC 45,524 2,033,239 5,441,484 MONOLITHIC POWER SYSTEMS INC 34,516 2,607,753 9,220,259 MSCI INC 14,830 2,278,248 5,535,594 MTS SYSTEMS CORP 14,830 506,289 361,852 NATIONAL INSTRUMENTS CORP 97,532 2,416,241 3,500,423 NCR CORP 106,054 2,411,251 2,167,744 NETAPP INC 38,575 1,211,146 1,828,069 NETFLIX INC 76,716 4,746,997 40,625,725 NETSCOUT SYSTEMS INC 52,727 1,454,556 1,220,103 NEXTGEN HEALTHCARE INC 40,588 705,436 538,197 NIC INC 55,570 932,757 1,188,087 NORTONLIFELOCK INC 94,489 2,421,255 2,222,381 NVENT ELECTRIC PLC 129,512 2,737,667 2,476,269 NVIDIA CORP 107,322 5,101,571 57,415,124 OMNICELL INC 35,354 1,452,369 2,357,405 ONESPAN INC 27,094 344,376 583,876 ONTO INNOVATION INC 39,487 844,101 1,233,574 ORACLE CORP 362,977 6,447,296 20,769,544 OSI SYSTEMS INC 13,889 607,182 1,093,759 PAYCHEX INC 55,699 2,188,463 4,259,303 PAYCOM SOFTWARE INC 8,415 2,596,758 2,519,956 PDF SOLUTIONS INC 23,384 364,235 484,049 PERFICIENT INC 27,440 616,632 1,177,450 PERKINELMER INC 19,430 557,498 2,287,300 PERSPECTA INC 113,268 2,579,658 2,352,576 PHOTRONICS INC 54,034 516,375 541,961 PLEXUS CORP 24,207 735,102 1,841,426 POWER INTEGRATIONS INC 49,513 1,416,731 2,771,243 PROGRESS SOFTWARE CORP 37,168 807,310 1,408,296 PTC INC 86,405 2,950,494 7,898,281 QORVO INC 20,014 1,621,447 2,567,196 QUALCOMM INC 196,229 7,071,388 23,370,874 QUALYS INC 27,802 1,343,826 2,950,904 QUINSTREET INC 38,801 372,231 510,233 RAMBUS INC 94,006 1,090,872 1,262,501 ROPER TECHNOLOGIES INC 18,210 1,668,559 7,779,130 SALESFORCE.COM INC 157,206 11,178,790 42,862,216

Page 27 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Information Technology & Electronics SANMINA CORP 56,592 1,081,369 1,601,554 SCIENCE APPLICATIONS INTERNATI 40,999 1,940,260 3,421,777 SEAGATE TECHNOLOGY PLC 39,390 1,165,740 1,890,326 SEMTECH CORP 54,059 1,368,541 3,170,560 SERVICENOW INC 33,275 9,464,647 16,039,216 SHUTTERSTOCK INC 15,964 757,064 803,308 SILICON LABORATORIES INC 36,257 2,017,094 3,713,079 SIMULATIONS PLUS INC 10,156 518,863 605,094 SKYWORKS SOLUTIONS INC 29,100 2,659,270 4,215,135 SMART GLOBAL HOLDINGS INC 11,342 304,767 285,818 SPS COMMERCE INC 28,972 1,147,829 2,314,283 STAMPS.COM INC 13,469 1,090,958 3,358,360 SYKES ENTERPRISES INC 31,249 679,905 1,034,498 SYNAPTICS INC 28,231 1,002,659 2,408,951 SYNNEX CORP 34,170 2,079,013 4,344,716 SYNOPSYS INC 26,308 1,971,375 5,821,960 TABULA RASA HEALTHCARE INC 16,993 828,267 859,846 TAKE‐TWO INTERACTIVE SOFTWARE 19,875 2,150,544 3,402,401 TE CONNECTIVITY LTD 57,538 2,064,508 5,558,171 TECHTARGET INC 18,962 399,584 752,412 TERADATA CORP 90,043 2,456,582 2,192,547 TERADYNE INC 137,565 3,885,117 11,688,898 INC 160,088 6,198,116 22,756,509 TRIMBLE INC 207,286 3,571,411 10,863,859 TRIPADVISOR INC 83,618 2,274,073 1,954,153 TTEC HOLDINGS INC 14,683 369,661 832,379 TTM TECHNOLOGIES INC 82,003 945,873 939,754 TWITTER INC 136,865 5,213,262 5,553,982 TYLER TECHNOLOGIES INC 7,004 2,333,803 2,418,551 ULTRA CLEAN HOLDINGS INC 33,072 687,811 810,925 UNISYS CORP 43,376 716,136 505,764 VEECO INSTRUMENTS INC 41,021 881,668 487,740 VERISIGN INC 17,735 993,754 3,809,478 VIRTUSA CORP 24,994 658,061 988,263 VISHAY INTERTECHNOLOGY INC 109,995 1,441,374 1,758,820 WATERS CORP 10,799 421,475 2,335,392 WATTS WATER TECHNOLOGIES INC 22,796 972,160 2,182,717 WESTERN DIGITAL CORP 52,290 2,041,316 2,008,982 WOODWARD INC 47,030 1,709,146 4,030,001 XILINX INC 42,409 1,704,660 4,417,321 XPERI HOLDING CORP 95,449 2,624,719 1,195,976 YELP INC 54,276 1,716,888 1,254,861 Information Technology & Electronics Total 16,164,725 $ 542,512,479 $ 2,190,481,937

Page 28 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Insurance AFLAC INC 125,158 2,152,971 4,545,741 ALLEGHANY CORP 11,875 4,573,809 6,585,400 CORP/THE 54,792 2,133,030 5,095,656 AMBAC FINANCIAL GROUP INC 37,989 678,544 479,801 AMERICAN EQUITY INVESTMENT LIF 75,953 1,730,501 1,816,036 AMERICAN FINANCIAL GROUP INC/O 61,877 2,764,154 4,136,477 AMERICAN INTERNATIONAL GROUP I 150,238 15,481,589 4,377,935 AMERISAFE INC 16,014 543,532 1,068,614 AON PLC 37,825 1,511,751 7,564,622 ARTHUR J GALLAGHER & CO 33,076 1,742,754 3,482,903 ASSURANT INC 10,405 652,258 1,264,832 BERKSHIRE HATHAWAY INC 339,104 32,469,022 73,938,236 BRIGHTHOUSE FINANCIAL INC 77,868 2,655,103 2,364,072 BROWN & BROWN INC 195,207 3,680,708 9,057,605 CHUBB LTD 78,732 6,232,688 9,841,500 CINCINNATI FINANCIAL CORP 26,320 1,040,934 2,090,071 CNO FINANCIAL GROUP INC 119,188 1,960,624 1,942,764 EHEALTH INC 21,238 1,335,364 1,340,543 EMPLOYERS HOLDINGS INC 25,209 551,066 821,309 ESSENT GROUP LTD 91,800 3,152,722 3,277,260 EVEREST RE GROUP LTD 6,975 1,761,379 1,535,058 FIRST AMERICAN FINANCIAL CORP 92,466 2,336,565 4,860,938 GENWORTH FINANCIAL INC 417,718 1,800,582 1,261,508 GLOBE LIFE INC 17,081 335,088 1,408,841 HANOVER INSURANCE GROUP INC/TH 31,536 1,676,900 3,232,125 HARTFORD FINANCIAL SERVICES GR 62,461 2,738,063 2,526,547 HCI GROUP INC 5,217 218,559 285,474 HORACE MANN EDUCATORS CORP 34,260 797,705 1,338,196 JAMES RIVER GROUP HOLDINGS LTD 25,326 958,278 1,233,629 KEMPER CORP 50,893 2,664,179 3,952,350 KINSALE CAPITAL GROUP INC 17,161 1,724,205 3,556,274 LINCOLN NATIONAL CORP 33,705 1,130,382 1,215,065 LOEWS CORP 42,218 1,010,274 1,513,937 MARSH & MCLENNAN COS INC 89,000 3,738,214 10,226,990 MERCURY GENERAL CORP 22,501 1,148,496 1,006,470 METLIFE INC 134,567 4,261,365 5,175,447 NMI HOLDINGS INC 70,327 1,145,498 1,206,108 OLD REPUBLIC INTERNATIONAL COR 237,139 4,032,470 3,820,309 PALOMAR HOLDINGS INC 14,682 1,131,001 1,649,523 PRIMERICA INC 33,825 1,804,883 4,223,051 PRINCIPAL FINANCIAL GROUP INC 44,428 1,284,381 1,870,863 PROASSURANCE CORP 44,673 1,071,009 684,390 PROGRESSIVE CORP/THE 102,095 2,175,478 9,703,109 PRUDENTIAL FINANCIAL INC 68,901 2,612,140 4,669,421 REINSURANCE GROUP OF AMERICA I 56,278 3,506,978 5,159,567

Page 29 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Insurance RENAISSANCERE HOLDINGS LTD 41,728 5,209,320 7,667,103 RLI CORP 33,180 1,389,519 3,111,952 SAFETY INSURANCE GROUP INC 12,064 706,570 873,434 SELECTIVE INSURANCE GROUP INC 49,536 1,490,761 2,962,748 STEWART INFORMATION SERVICES C 19,637 584,571 837,911 THIRD POINT REINSURANCE LTD 66,914 871,172 572,784 TRAVELERS COS INC/THE 44,103 1,765,729 5,117,712 TRUPANION INC 16,735 1,049,770 1,049,787 UNITED FIRE GROUP INC 17,640 645,550 444,175 UNITED INSURANCE HOLDINGS CORP 17,109 319,599 129,515 UNIVERSAL INSURANCE HOLDINGS I 24,733 446,581 458,797 UNUM GROUP 35,483 633,037 655,726 W R BERKLEY CORP 24,629 1,661,166 1,528,229 WILLIS TOWERS WATSON PLC 24,756 3,345,834 5,088,101 Insurance Total 3,773,548 $ 154,226,375 $ 252,904,541

Investment Management ISHARES CORE S&P MIDCAP ETF 18,265 3,526,255 3,517,291 ISHARES CORE S&P SMALL‐CAP E 57,374 4,227,426 4,243,955 SPDR S&P 500 ETF TRUST 71,829 19,574,542 25,090,588 SPDR S&P MIDCAP 400 ETF TRST 1,802 586,751 633,223 Investment Management Total 149,270 $ 27,914,974 $ 33,485,057

Packaging AMCOR PLC 274,634 3,001,179 3,037,450 BALL CORP 56,866 919,041 4,570,320 GREIF INC 21,928 1,139,771 808,047 MATTHEWS INTERNATIONAL CORP 25,933 1,003,070 567,933 O‐I GLASS INC 129,926 2,006,468 1,413,595 PACKAGING CORP OF AMERICA 16,544 1,775,069 1,674,915 SEALED AIR CORP 27,152 583,729 1,067,074 SILGAN HOLDINGS INC 64,396 1,330,389 2,450,912 SONOCO PRODUCTS CO 83,253 2,782,304 4,414,907 WESTROCK CO 45,223 2,363,694 1,371,614 Packaging Total 745,855 $ 16,904,714 $ 21,376,767

Real Estate ACADIA REALTY TRUST 71,346 1,595,441 809,056 AGREE REALTY CORP 44,679 2,380,894 2,989,919 ALEXANDER & BALDWIN INC 56,398 1,057,275 682,980 ALEXANDRIA REAL ESTATE EQUITIE 22,012 2,676,973 3,706,381 AMERICAN ASSETS TRUST INC 39,820 1,341,588 1,017,401 AMERICAN CAMPUS COMMUNITIES IN 114,185 4,429,667 3,870,872 AMERICAN TOWER CORP 77,328 5,175,118 19,266,271 APARTMENT INVESTMENT AND MANAG 25,967 727,821 935,591

Page 30 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Real Estate APOLLO COMMERCIAL REAL ESTATE 118,714 1,952,578 1,061,303 ARMADA HOFFLER PROPERTIES INC 46,875 623,156 473,438 ARMOUR RESIDENTIAL REIT INC 53,602 1,032,358 519,403 AVALONBAY COMMUNITIES INC 24,548 3,310,621 3,880,057 BOSTON PROPERTIES INC 25,205 2,331,405 2,189,558 BRANDYWINE REALTY TRUST 141,309 1,556,630 1,572,769 BRIXMOR PROPERTY GROUP INC 246,030 3,982,378 2,903,154 CAMDEN PROPERTY TRUST 80,809 5,204,847 7,348,770 CAPSTEAD MORTGAGE CORP 79,890 784,232 492,921 CARETRUST REIT INC 79,318 1,146,728 1,536,390 CBRE GROUP INC 58,464 1,546,522 2,749,562 CHATHAM LODGING TRUST 38,967 654,850 269,652 COMMUNITY HEALTHCARE TRUST INC 17,076 541,728 797,449 CORECIVIC INC 99,285 1,846,183 924,343 CORESITE REALTY CORP 33,443 2,457,776 4,095,095 CORPORATE OFFICE PROPERTIES TR 93,091 2,389,724 2,293,762 COUSINS PROPERTIES INC 123,270 4,993,188 3,679,610 CROWN CASTLE INTERNATIONAL COR 72,695 5,298,845 11,867,459 CYRUSONE INC 95,603 5,218,583 7,985,719 DIAMONDROCK HOSPITALITY CO 165,342 1,658,504 876,313 DIGITAL REALTY TRUST INC 46,802 5,121,378 7,284,731 DIVERSIFIED HEALTHCARE TRUST 197,426 3,176,094 750,219 DOUGLAS EMMETT INC 136,805 4,317,967 3,819,596 DUKE REALTY CORP 64,258 1,800,804 2,477,146 EASTERLY GOVERNMENT PROPERTIES 62,341 1,318,642 1,508,029 EASTGROUP PROPERTIES INC 32,411 2,270,870 4,315,849 EPR PROPERTIES 64,292 2,825,491 2,077,275 EQUINIX INC 15,440 5,005,302 12,194,203 EQUITY RESIDENTIAL 61,016 2,490,374 3,444,353 ESSENTIAL PROPERTIES REALTY TR 76,331 1,637,906 1,295,337 PROPERTY TRUST INC 11,411 2,088,826 2,470,596 EXTRA SPACE STORAGE INC 22,517 1,958,248 2,399,186 FEDERAL REALTY INVESTMENT TRUS 12,270 1,785,511 972,275 FIRST INDUSTRIAL REALTY TRUST 105,555 2,809,925 4,501,921 FOUR CORNERS PROPERTY TRUST IN 58,363 1,199,093 1,473,666 FRANKLIN STREET PROPERTIES COR 88,895 940,024 393,805 GROUP INC/THE 100,707 1,444,058 1,123,890 GETTY REALTY CORP 28,510 742,588 835,058 GLOBAL NET LEASE INC 74,245 1,261,948 1,299,288 GRANITE POINT MORTGAGE TRUST I 45,759 734,117 303,840 HEALTHCARE REALTY TRUST INC 111,982 2,869,283 3,230,681 HEALTHPEAK PROPERTIES INC 93,892 3,161,157 2,595,175 HERSHA HOSPITALITY TRUST 29,863 477,667 192,019 HIGHWOODS PROPERTIES INC 86,211 2,825,657 3,212,222 HOST HOTELS & RESORTS INC 122,968 2,438,350 1,380,931

Page 31 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Real Estate HUDSON PACIFIC PROPERTIES INC 127,217 3,128,213 2,987,055 INDEPENDENCE REALTY TRUST INC 78,587 794,517 920,254 INDUSTRIAL LOGISTICS PROPERTIE 54,087 1,107,015 1,166,657 INNOVATIVE INDUSTRIAL PROPERTI 17,663 1,404,260 2,174,139 INVESCO MORTGAGE CAPITAL INC 150,636 2,057,735 451,908 INVESTORS REAL ESTATE TRUST 10,081 771,713 716,759 IRON MOUNTAIN INC 50,217 1,309,719 1,511,030 ISTAR INC 60,301 681,114 746,526 JBG SMITH PROPERTIES 97,434 3,458,600 2,695,999 JONES LANG LASALLE INC 42,846 4,195,384 4,414,852 KILROY REALTY CORP 87,853 4,611,113 5,141,158 KIMCO REALTY CORP 75,447 1,901,538 904,610 KITE REALTY GROUP TRUST 69,801 1,605,122 784,563 KKR REAL ESTATE FINANCE TRUST 19,328 360,907 351,770 LAMAR ADVERTISING CO 71,547 3,733,270 4,953,199 LEXINGTON REALTY TRUST 229,256 2,436,660 2,606,641 LIFE STORAGE INC 38,877 2,797,777 4,098,802 LTC PROPERTIES INC 32,501 1,009,074 1,185,961 MACERICH CO/THE 96,488 2,012,517 765,150 MACK‐CALI REALTY CORP 75,181 2,087,076 949,536 MARCUS & MILLICHAP INC 19,541 651,779 551,252 MEDICAL PROPERTIES TRUST INC 438,474 6,657,085 8,146,847 MID‐AMERICA APARTMENT COMMUNIT 19,946 1,810,870 2,336,076 NATIONAL RETAIL PROPERTIES INC 142,716 4,591,895 5,057,855 NATIONAL STORAGE AFFILIATES TR 51,455 1,302,615 1,765,421 NEW YORK MORTGAGE TRUST INC 313,161 1,626,701 826,745 NEXPOINT RESIDENTIAL TRUST INC 18,126 797,575 750,416 OFFICE PROPERTIES INCOME TRUST 39,989 1,922,295 953,338 OMEGA HEALTHCARE INVESTORS INC 188,295 4,965,942 5,831,496 PARK HOTELS & RESORTS INC 195,278 4,206,916 1,853,188 PEBBLEBROOK HOTEL TRUST 108,401 3,106,081 1,368,021 PENNSYLVANIA REAL ESTATE INVES 50,386 668,704 55,425 PENNYMAC MORTGAGE INVESTMENT T 82,859 1,405,834 1,420,203 PHYSICIANS REALTY TRUST 168,104 2,856,753 3,051,088 POTLATCHDELTIC CORP 55,556 1,583,133 2,557,798 PROLOGIS INC 128,826 7,034,958 13,122,216 PS BUSINESS PARKS INC 16,644 1,390,354 2,100,473 PUBLIC STORAGE 26,221 2,652,293 5,569,340 RAYONIER INC 114,901 2,127,964 3,364,301 RE/MAX HOLDINGS INC 15,040 482,764 528,506 READY CAPITAL CORP 31,386 419,506 321,079 REALOGY HOLDINGS CORP 95,620 1,523,164 1,059,470 REALTY INCOME CORP 59,904 3,282,803 3,715,845 REDWOOD TRUST INC 95,282 1,359,370 660,304 REGENCY CENTERS CORP 29,589 1,961,676 1,174,979

Page 32 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value RETAIL OPPORTUNITY INVESTMENTS 96,557 1,455,681 1,074,679 RETAIL PROPERTIES OF AMERICA I 177,695 1,240,270 1,121,255 REXFORD INDUSTRIAL REALTY INC 94,154 4,421,677 4,517,509 RPT REALTY 66,864 777,193 391,823 SABRA HEALTH CARE REIT INC 170,592 3,591,967 2,529,879 SAFEHOLD INC 10,993 474,771 609,782 SAUL CENTERS INC 9,810 428,448 274,876 SBA COMMUNICATIONS CORP 19,471 3,082,389 5,959,489 SERVICE PROPERTIES TRUST 136,400 3,109,878 1,119,844 SIMON PROPERTY GROUP INC 53,333 3,767,270 3,618,644 SITE CENTERS CORP 123,444 978,081 927,064 SL GREEN REALTY CORP 13,351 1,712,956 624,293 SPIRIT REALTY CAPITAL INC 85,425 3,483,305 3,033,442 ST JOE CO/THE 25,891 482,453 600,930 STORE CAPITAL CORP 184,654 3,781,195 4,993,044 SUMMIT HOTEL PROPERTIES INC 87,639 988,049 516,194 TANGER FACTORY OUTLET CENTERS 77,562 1,408,284 441,328 TAUBMAN CENTERS INC 51,113 2,607,818 1,957,628 UDR INC 51,438 1,854,937 1,790,557 UNITI GROUP INC 161,096 3,442,990 1,581,963 UNIVERSAL HEALTH REALTY INCOME 10,498 505,849 700,427 URBAN EDGE PROPERTIES 91,868 1,846,617 970,126 URSTADT BIDDLE PROPERTIES INC 24,862 432,271 231,217 VENTAS INC 65,077 2,814,773 2,681,823 VORNADO REALTY TRUST 27,668 1,638,753 991,344 WASHINGTON PRIME GROUP INC 155,295 2,149,129 105,601 WASHINGTON REAL ESTATE INVESTM 68,304 1,827,696 1,498,590 WEINGARTEN REALTY INVESTORS 99,796 2,664,408 1,743,436 WELLTOWER INC 72,822 4,103,234 4,188,721 WEYERHAEUSER CO 130,164 2,692,699 3,945,271 WHITESTONE REIT 34,963 402,146 224,812 XENIA HOTELS & RESORTS INC 94,152 1,756,510 845,485 Real Estate Total 10,459,540 $ 292,392,944 $ 319,825,816

Telecommunications ADTRAN INC 39,792 812,328 441,293 ARISTA NETWORKS INC 9,377 2,711,234 2,095,291 AT&T INC 1,242,838 28,563,267 37,049,001 ATN INTERNATIONAL INC 9,010 499,345 522,580 CALAMP CORP 28,515 361,512 232,968 CENTURYLINK INC 172,297 5,294,301 1,852,193 CIENA CORP 127,497 3,038,275 7,238,005 CINCINNATI BELL INC 41,960 856,372 631,918 CISCO SYSTEMS INC 739,870 13,127,535 31,237,311 CONSOLIDATED COMMUNICATIONS HO 60,602 1,045,483 471,484 CORNING INC 132,400 2,761,114 4,297,704

Page 33 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Telecommunications EXTREME NETWORKS INC 99,755 1,103,967 435,929 HARMONIC INC 80,141 465,886 472,832 INTERDIGITAL INC 25,515 1,075,743 1,560,242 IRIDIUM COMMUNICATIONS INC 81,208 1,181,570 2,274,636 JUNIPER NETWORKS INC 57,803 1,133,076 1,445,075 MOTOROLA SOLUTIONS INC 29,668 2,171,168 4,591,123 NETGEAR INC 24,521 413,906 817,775 PLANTRONICS INC 27,685 686,252 342,187 SHENANDOAH TELECOMMUNICATIONS 38,877 1,627,232 2,149,898 SPOK HOLDINGS INC 14,656 165,012 158,871 TELEPHONE AND DATA SYSTEMS INC 81,001 2,482,631 1,873,553 T‐MOBILE US INC 101,564 9,361,401 11,850,488 VERIZON COMMUNICATIONS INC 721,805 26,928,865 42,781,382 VIASAT INC 48,473 1,960,800 1,927,286 VIAVI SOLUTIONS INC 189,201 1,583,636 2,522,995 VONAGE HOLDINGS CORP 191,403 1,603,671 2,191,564 Telecommunications Total 4,417,434 $ 113,015,582 $ 163,465,584

Travel & Entertainment ALASKA AIR GROUP INC 21,383 1,371,115 832,869 ALLEGIANT TRAVEL CO 10,874 772,338 1,398,396 AMERICAN AIRLINES GROUP INC 86,684 3,771,137 1,131,226 ARCBEST CORP 20,928 580,155 707,785 ATLAS AIR WORLDWIDE HOLDINGS I 21,673 926,944 1,222,140 BOYD GAMING CORP 66,472 1,261,597 1,780,120 BRISTOW GROUP INC 5,530 193,311 104,572 BRUNSWICK CORP/DE 65,665 1,473,462 4,064,007 CAESARS ENTERTAINMENT INC 126,931 4,824,225 5,813,440 CALLAWAY GOLF CO 78,101 999,589 1,629,187 CARNIVAL CORP 82,639 2,402,331 1,361,891 CH ROBINSON WORLDWIDE INC 23,480 1,231,968 2,308,084 CHOICE HOTELS INTERNATIONAL IN 26,183 2,480,126 2,599,710 CHURCHILL DOWNS INC 29,110 1,771,896 5,087,264 CINEMARK HOLDINGS INC 88,795 1,964,295 1,300,847 CSX CORP 133,522 1,471,208 10,209,092 DELTA AIR LINES INC 99,020 2,310,458 3,054,767 DORIAN LPG LTD 22,350 305,062 188,634 ECHO GLOBAL LOGISTICS INC 22,088 551,216 603,444 EXPEDITORS INTERNATIONAL OF WA 29,031 1,466,996 2,566,050 FEDEX CORP 41,925 2,934,660 9,216,792 FORWARD AIR CORP 23,209 747,745 1,369,099 HARLEY‐DAVIDSON INC 127,117 3,165,083 3,522,412 HAWAIIAN HOLDINGS INC 38,127 888,632 512,427 HEARTLAND EXPRESS INC 38,467 655,124 795,690 HILTON WORLDWIDE HOLDINGS INC 48,363 3,387,125 4,370,081

Page 34 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

EQUITY SECURITIES

PSF(SBOE) DOMESTIC EQUITY SECURITIES

Number of Shares Book Value Fair Value Travel & Entertainment HUB GROUP INC 27,820 801,666 1,497,829 JB HUNT TRANSPORT SERVICES INC 14,717 1,230,684 2,068,327 JETBLUE AIRWAYS CORP 223,839 3,476,767 2,578,625 KANSAS CITY SOUTHERN 16,575 1,855,400 3,017,313 KIRBY CORP 49,823 1,793,126 2,114,488 KNIGHT‐ HO 101,463 3,004,700 4,612,508 INC 31,837 1,580,720 4,237,186 LAS VEGAS SANDS CORP 58,617 3,276,976 2,972,468 LIVE NATION ENTERTAINMENT INC 24,782 1,723,681 1,407,618 MARCUS CORP/THE 19,167 366,841 300,347 MARRIOTT INTERNATIONAL INC/MD 46,946 1,401,447 4,831,213 MARRIOTT VACATIONS WORLDWIDE C 30,314 1,731,004 2,869,826 MARTEN TRANSPORT LTD 48,479 498,071 880,379 MATSON INC 35,715 830,253 1,431,100 MGM RESORTS INTERNATIONAL 86,034 2,789,600 1,935,765 MONARCH CASINO & RESORT INC 9,941 256,783 457,385 NORFOLK SOUTHERN CORP 44,686 1,348,563 9,497,116 NORWEGIAN CRUISE LINE HOLDINGS 47,621 2,191,565 814,795 OLD DOMINION FREIGHT LINE INC 16,459 2,015,712 3,327,681 PENN NATIONAL GAMING INC 107,199 2,263,970 5,477,869 POLARIS INC 47,770 2,059,217 4,826,681 ROYAL CARIBBEAN CRUISES LTD 29,949 2,372,178 2,061,689 RYDER SYSTEM INC 44,586 2,568,780 1,823,567 INC 21,630 1,075,362 2,902,746 SCIENTIFIC GAMES CORP 45,463 1,168,015 940,402 SEACOR HOLDINGS INC 14,668 455,594 463,655 SIX FLAGS ENTERTAINMENT CORP 65,346 3,205,853 1,419,969 SKYWEST INC 41,597 883,120 1,399,739 SOUTHWEST AIRLINES CO 93,556 1,732,165 3,515,834 UNION PACIFIC CORP 118,365 2,560,122 22,778,161 UNITED AIRLINES HOLDINGS INC 44,075 2,293,535 1,586,700 INC 122,822 8,503,207 20,096,136 VISTA OUTDOOR INC 48,145 647,139 934,494 INC 47,590 1,356,051 2,189,616 WYNDHAM DESTINATIONS INC 70,644 3,038,998 2,047,970 WYNDHAM HOTELS & RESORTS INC 77,259 4,115,475 4,045,281 WYNN RESORTS LTD 16,934 1,278,301 1,480,878 XPO LOGISTICS INC 75,609 3,935,460 6,674,006 YETI HOLDINGS INC 55,557 1,860,163 2,854,519 Travel & Entertainment Total 3,501,266 $ 123,454,062 $ 208,121,907

TOTAL PSF(SBOE) DOMESTIC EQUITY SECURITIES 110,462,363 $ 3,464,264,234 $ 7,072,113,803

Page 35 of 35 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

PSF(SBOE) FIXED INCOME SECURITIES

Coupon Rate Maturity Date Par Value Book Value Fair Value ASSET BACKED SECURITIES CF HIPPOLYTA LLC 1 A1 144A 0.016900 7/15/2060 $ 9,000,000 $ 8,998,757 $ 9,132,142 FINANCE OF AMERICA AB1 M1 144A 0.035000 12/27/2049 8,000,000 8,059,888 8,060,000 GLOBAL SC FINANCE II 1A A 144A 0.029800 4/17/2028 2,306,667 2,163,437 2,308,100 MILL CITY MORTGAGE L 3 M3 144A 0.032500 1/25/2061 19,584,708 20,551,554 20,651,842 Total ASSET BACKED SECURITIES $ 38,891,375 $ 39,773,636 $ 40,152,084

COLLATERALIZED LOAN OBLIGATIONS 1828 CLO LTD 1A CR 144A 0.036250 10/15/2031 7,500,000 7,506,508 7,272,371 610 FUNDING CLO 2 2RA CR 144A 0.042718 4/20/2029 10,000,000 10,000,000 9,998,281 APEX CREDIT CLO 2 1A AS1R 144A 0.015445 10/27/2028 4,921,068 4,428,064 4,850,006 APEX CREDIT CLO 201 1A DR 144A 0.036445 10/27/2028 10,131,296 10,048,074 9,969,038 ARCH STREET CLO LTD 2A DR 144A 0.040218 10/20/2028 9,887,424 9,887,424 7,881,268 BENEFIT STREET PA IIIA CR 144A 0.041718 7/20/2029 10,000,000 10,000,000 9,617,363 CANYON CAPITAL CLO 1A DR 144A 0.039250 4/15/2029 7,925,000 8,066,805 7,165,902 CARLYLE GLOBAL MARK 1A CR 144A 0.036148 8/14/2030 9,100,000 9,313,912 8,561,693 CFIP CLO 2013‐1 LTD 1A DR 144A 0.042218 4/20/2029 5,150,000 5,249,182 4,977,620 COVENANT CREDIT PART 1A D 144A 0.040250 10/15/2029 8,000,000 8,162,255 7,241,051 CVP CASCADE CLO‐1 CLO1 C 144A 0.037709 1/16/2026 10,000,000 10,036,375 9,484,025 ELEVATION CLO 2014‐ 2A DR 144A 0.034750 10/15/2029 6,500,000 6,500,000 5,602,748 ELEVATION CLO 2015‐ 4A DR 144A 0.035218 4/18/2027 5,000,000 5,000,000 4,693,640 FIRST EAGLE BSL CLO 1A C 144A 0.046218 1/20/2033 8,000,000 7,917,197 8,053,942 HALCYON LOAN ADVISOR 1A C 144A 0.041945 6/25/2029 8,000,000 8,017,854 6,872,938 HALCYON LOAN ADVISOR 2A C 144A 0.037468 4/28/2025 6,000,000 5,916,060 4,644,516 HALCYON LOAN ADVISOR 2A D 144A 0.040510 8/1/2025 5,000,000 4,975,088 4,252,463 JEFFERSON MILL CLO 1A DR 144A 0.038218 10/20/2031 9,000,000 9,000,000 8,139,661 JMP CREDIT ADVISORS 1A D 144A 0.080458 2/2/2160 16,800,000 16,773,657 14,153,913 KAYNE CLO I LTD 1A D 144A 0.031350 7/15/2031 7,750,000 7,684,437 7,307,528 MIDOCEAN CREDIT CLO 2A DR 144A 0.030196 1/29/2030 10,000,000 10,000,000 8,498,681 MONROE CAPITAL BSL 1A DR 144A 0.040061 5/22/2027 5,066,400 5,099,959 4,051,769 MOUNTAIN HAWK III CL 3A D 144A 0.037718 4/18/2025 14,000,000 13,589,924 13,052,887 MOUNTAIN VIEW CLO 20 1A D 144A 0.038709 10/16/2029 6,500,000 6,600,674 5,857,347 MOUNTAIN VIEW CLO 20 2A D 144A 0.033709 1/16/2031 6,725,000 6,703,416 6,271,336 NASSAU 2018‐II LTD IIA D 144A 0.036850 10/15/2031 12,000,000 11,897,466 10,616,586 NORTHWOODS CAPITAL 15A D 144A 0.039774 6/20/2029 2,000,000 1,984,993 1,832,775 PARALLEL 2018‐1 LTD 1A C 144A 0.030718 4/20/2031 2,500,000 2,500,000 2,177,538 ROMARK WM‐R LTD 1A D 144A 0.032918 4/20/2031 11,500,000 11,404,876 10,490,101 SARATOGA INVESTMEN 1A DR2 144A 0.040218 1/20/2030 10,500,000 10,500,000 10,327,694 SOUND POINT CLO XV L 1A D 144A 0.038555 1/23/2029 3,000,000 3,060,131 2,577,804 SOUND POINT CLO XVI 2A D 144A 0.038445 7/25/2030 11,831,000 11,680,390 10,884,637 THL CREDIT WIND RIV 1A CR 144A 0.039218 7/20/2030 1,500,000 1,500,000 1,287,198 TRINITAS CLO VI LTD 6A D 144A 0.040445 7/25/2029 17,250,000 17,052,977 17,002,306 VCO CLO 2018‐1 LLC 1A D 144A 0.043718 7/20/2030 14,000,000 13,779,736 12,541,605 WELLFLEET CLO 2016‐ 1A DR 144A 0.031718 4/20/2028 7,000,000 7,000,000 6,446,348 WELLFLEET CLO 2019‐ 1A C1 144A 0.042718 7/20/2032 9,500,000 9,500,000 9,584,894 ZAIS CLO 14 LTD 14A D 144A 0.057797 4/15/2032 10,000,000 10,000,000 10,056,848 ZAIS CLO 9 LTD 2A D 144A 0.037218 7/20/2031 21,300,000 20,930,456 15,511,348 Total COLLATERALIZED LOAN OBLIGATIONS $ 340,837,188 $ 339,267,890 $ 309,809,669

COMMERCIAL MORTGAGE BACKED SECURITIES CFCRE COMMERCIAL MORTGAG C2 A4 0.038343 12/15/2047 9,799,661 10,660,802 9,948,829 COMM 2012‐CCRE5 MOR CR5 B 144A 0.037740 12/10/2045 5,865,686 5,989,100 5,978,334 GS MORTGAGE SECURIT GC3 B 144A 0.053610 3/10/2044 8,000,000 8,636,143 8,069,250 Total COMMERCIAL MORTGAGE BACKED SECURITIES $ 23,665,347 $ 25,286,045 $ 23,996,413

U.S. GOVERNMENT AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES FREMF 2013‐K29 MORT K29 B 144A 0.035959 5/25/2046 9,000,000 9,219,196 9,493,966 FREMF 2015‐K44 MORT K44 B 144A 0.038065 1/25/2048 3,395,000 3,419,422 3,632,690 Total U.S. GOVERNMENT AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES $ 12,395,000 $ 12,638,618 $ 13,126,656

CORPORATE OBLIGATIONS 3M CO 0.032500 8/26/2049 5,000,000 5,252,101 5,694,484 ABBVIE INC 0.043000 5/14/2036 5,000,000 5,197,850 5,970,021 AEP TEXAS INC 0.039500 6/1/2028 7,253,000 7,328,724 8,423,565 AEP TEXAS INC 144A 0.038500 10/1/2025 10,000,000 10,239,571 11,130,992 AMAZON.COM INC 0.031500 8/22/2027 15,000,000 15,094,900 17,167,410 AMERICAN EXPRESS CO 0.025000 8/1/2022 15,000,000 15,029,175 15,567,458 AMERICAN FINANCIAL GROUP INC/O 0.045000 6/15/2047 6,000,000 6,170,888 6,658,871 AMGEN INC 0.023000 2/25/2031 7,000,000 6,975,768 7,403,500 ANTHEM INC 0.035000 8/15/2024 10,000,000 10,106,935 11,013,020 APPLE INC 0.016500 5/11/2030 10,000,000 9,931,590 10,368,481 AT&T INC 0.051500 3/15/2042 7,500,000 8,132,469 9,452,498 ATHENE GLOBAL FUNDING 144A 0.025500 6/29/2025 12,500,000 12,490,451 12,969,017 AUTOZONE INC 0.054000 6/17/2158 22,000,000 21,938,404 23,584,047 BANCO SANTANDER SA 0.034900 5/28/2030 2,000,000 2,000,000 2,194,594 BANK OF AMERICA CORP 0.114190 4/16/2278 15,274,000 15,466,594 17,082,750 BANK OF MONTREAL 0.038030 12/15/2032 10,000,000 9,636,464 11,083,200 BAYER US FINANCE II LLC 144A 0.046250 6/25/2038 5,000,000 5,454,528 5,977,493 BERKSHIRE HATHAWAY ENERGY CO 0.059500 5/15/2037 7,120,000 8,878,661 10,327,603 BOEING CO/THE 0.045080 5/1/2023 9,500,000 9,961,419 10,033,802 BRISTOL MYERS SQUIBB CO 0.038750 8/15/2025 15,000,000 16,121,043 17,259,406 CAPITAL ONE FINANCIAL CORP 0.037500 7/28/2026 10,000,000 10,063,992 10,978,464 CARLYLE HOLDINGS II FINAN 144A 0.056250 3/30/2043 10,000,000 10,915,813 12,602,998 CHEVRON CORP 0.071570 8/31/2276 20,165,000 20,014,222 21,209,147

Page 1 of 5 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

PSF(SBOE) FIXED INCOME SECURITIES

Coupon Rate Maturity Date Par Value Book Value Fair Value CORPORATE OBLIGATIONS CITIGROUP INC 0.084780 4/3/2165 15,000,000 15,499,356 17,576,118 CITIZENS FINANCIAL GROUP INC 0.040230 10/1/2024 5,000,000 4,973,614 5,442,157 CMS ENERGY CORP 0.047000 3/31/2043 5,000,000 5,473,295 6,207,881 COCA‐COLA EUROPEAN PARTNERS PL 0.035000 9/15/2020 5,000,000 5,000,400 5,005,040 CONSTELLATION BRANDS INC 0.036000 2/15/2028 10,000,000 10,477,687 11,271,709 COOPERATIEVE UA 0.039500 11/9/2022 10,000,000 10,109,922 10,678,900 CORNING INC 0.054500 11/15/2079 10,000,000 11,314,131 12,526,657 CVS HEALTH CORP 0.048750 7/20/2035 6,000,000 6,578,340 7,654,961 CVS PASS‐THROUGH TRUST 0.060360 12/10/2028 7,462,017 8,267,411 8,472,666 DELL INTERNATIONAL LLC / 144A 0.083500 7/15/2046 8,000,000 10,149,789 10,812,191 DISCOVERY COMMUNICATIONS LLC 0.050000 9/20/2037 5,000,000 4,922,260 5,912,197 DUKE ENERGY CORP 0.057500 6/17/2145 20,000,000 20,174,655 21,096,654 DUPONT DE NEMOURS INC 0.053190 11/15/2038 10,000,000 12,048,828 12,915,360 ENERGY TRANSFER OPERATING LP 0.066250 10/15/2036 7,106,000 8,085,511 7,721,283 ERAC USA FINANCE LLC 144A 0.033000 12/1/2026 10,000,000 10,118,904 10,896,654 EXELON GENERATION CO LLC 0.062500 10/1/2039 15,000,000 17,232,168 18,517,489 FEDEX CORP 0.049500 10/17/2048 20,000,000 23,869,220 24,948,648 FIFTH THIRD BANK NA 0.038500 3/15/2026 9,000,000 9,266,120 10,322,326 FIRST HORIZON NATIONAL CORP 0.035000 12/15/2020 5,000,000 5,006,087 5,027,871 GE CAPITAL INTERNATIONAL FUNDI 0.044180 11/15/2035 20,000,000 21,541,627 20,661,751 GENERAL MILLS INC 0.028750 4/15/2030 1,000,000 998,077 1,099,391 GENERAL MOTORS CO 0.119500 1/1/2166 13,000,000 13,533,003 14,316,302 GEORGIA POWER CO 0.026500 9/15/2029 10,000,000 10,916,183 10,708,265 GEORGIA‐PACIFIC LLC 144A 0.023000 4/30/2030 10,000,000 10,103,543 10,625,248 GOLDMAN SACHS GROUP INC/THE 0.109251 6/29/2394 41,835,000 42,442,011 44,550,397 HALLIBURTON CO 0.050000 11/15/2045 10,000,000 10,808,873 11,003,317 HEALTHPEAK PROPERTIES INC 0.034000 2/1/2025 8,000,000 7,964,279 8,820,199 HERSHEY CO/THE 0.017000 6/1/2030 10,600,000 10,617,140 10,929,229 INGREDION INC 0.029000 6/1/2030 10,000,000 10,108,864 10,878,762 INTERCONTINENTAL EXCHANGE INC 0.064000 8/18/2166 15,000,000 15,542,309 16,351,510 INTERNATIONAL FLAVORS & FRAGRA 0.043750 6/1/2047 7,000,000 7,170,365 7,990,464 J M SMUCKER CO/THE 0.043750 3/15/2045 5,000,000 5,240,050 6,020,567 JPMORGAN CHASE & CO 0.080780 4/4/2154 13,000,000 13,230,818 14,825,208 KEURIG DR PEPPER INC 0.034300 6/15/2027 5,000,000 5,052,174 5,603,965 KINDER MORGAN ENERGY PARTNERS 0.082000 7/4/2166 15,000,000 14,814,662 16,285,792 KINDER MORGAN INC 0.055500 6/1/2045 10,000,000 10,969,937 12,388,767 KRAFT HEINZ FOODS CO 0.050000 6/4/2042 7,500,000 7,845,283 8,304,963 LOEWS CORP 0.032000 5/15/2030 10,000,000 10,069,314 10,999,087 LOWE'S COS INC 0.036500 4/5/2029 5,000,000 5,033,199 5,793,250 LYONDELLBASELL INDUSTRIES NV 0.046250 2/26/2055 5,000,000 5,251,344 5,725,055 MANULIFE FINANCIAL CORP 0.040610 2/24/2032 15,000,000 15,150,959 16,026,265 MCKESSON CORP 0.027000 12/15/2022 10,000,000 9,796,016 10,438,701 METLIFE INC 0.043680 9/15/2023 15,000,000 15,737,647 16,756,817 MORGAN STANLEY 0.065385 8/26/2146 13,500,000 13,914,003 14,351,492 NATIONAL RURAL UTILITIES COOPE 0.028500 1/27/2025 10,000,000 9,946,327 10,931,954 NATIONWIDE BUILDING SOCIE 144A 0.041250 10/18/2032 7,000,000 6,968,019 7,656,614 NATIONWIDE FINANCIAL SERV 144A 0.039000 11/30/2049 10,000,000 11,368,690 10,284,654 NEXTERA ENERGY CAPITAL HOLDING 0.035000 4/1/2029 5,000,000 4,985,660 5,741,458 NISOURCE INC 0.029500 9/1/2029 10,000,000 10,618,824 10,985,630 NORDSTROM INC 0.050000 1/15/2044 10,000,000 9,712,855 7,029,960 NORTHWESTERN MUTUAL LIFE 144A 0.060630 3/30/2040 10,000,000 14,892,020 14,417,457 OGLETHORPE POWER CORP 0.042000 12/1/2042 10,000,000 9,434,822 10,145,021 OHIO POWER CO 0.066000 2/15/2033 10,000,000 12,894,995 14,042,701 OLD REPUBLIC INTERNATIONAL COR 0.038750 8/26/2026 8,000,000 8,395,435 8,875,417 PACIFIC GAS AND ELECTRIC CO 0.031500 1/1/2026 10,000,000 10,527,934 10,350,615 PHILLIPS 66 0.048750 11/15/2044 10,000,000 12,694,507 12,186,728 PLAINS ALL AMERICAN PIPELINE L 0.049000 2/15/2045 10,000,000 9,530,336 9,590,885 PPG INDUSTRIES INC 0.028000 8/15/2029 10,000,000 10,422,622 10,865,358 PRIMERICA INC 0.047500 7/15/2022 12,000,000 12,297,075 12,833,091 PROLOGIS LP 0.022500 4/15/2030 4,000,000 4,013,138 4,264,837 PRUDENTIAL FINANCIAL INC 0.058750 9/15/2042 10,000,000 10,785,560 10,680,921 PRUDENTIAL PLC 0.031250 4/14/2030 5,000,000 5,085,799 5,535,310 PUBLIC SERVICE CO OF NEW HAMPS 0.024000 9/1/2050 7,000,000 6,940,663 6,818,002 PUBLIC STORAGE 0.030940 9/15/2027 2,000,000 2,000,000 2,265,599 REGENERON PHARMACEUTICALS INC 0.028000 9/15/2050 6,000,000 6,013,077 5,738,666 REINSURANCE GROUP OF AMERICA I 0.039500 9/15/2026 10,000,000 10,147,038 11,144,578 ROYAL BANK OF CANADA 0.009968 1/28/2021 15,000,000 15,000,000 15,015,163 SEMPRA ENERGY 0.038000 2/1/2038 10,000,000 10,041,182 11,471,406 SPECTRA ENERGY PARTNERS LP 0.047500 3/15/2024 10,000,000 10,644,059 11,232,333 SYSCO CORP 0.077500 9/29/2174 25,000,000 27,366,387 27,240,136 UBS GROUP AG 144A 0.012301 8/15/2023 5,000,000 5,012,247 5,030,137 UNILEVER CAPITAL CORP 0.026000 5/5/2024 10,000,000 9,932,682 10,745,307 UNION PACIFIC CORP 0.038390 3/20/2060 5,000,000 5,567,056 5,837,664 USAA CAPITAL CORP 144A 0.021250 5/1/2030 2,500,000 2,493,039 2,651,558 VENTAS REALTY LP 0.084000 3/18/2157 9,957,000 9,828,456 10,969,382 VERIZON COMMUNICATIONS INC 0.042720 1/15/2036 10,000,000 12,446,758 12,269,456 VIACOMCBS INC 0.080750 8/16/2171 15,000,000 15,305,075 16,408,563 VODAFONE GROUP PLC 0.043750 2/19/2043 10,000,000 12,425,237 11,753,078 WALT DISNEY CO/THE 0.020000 9/1/2029 13,224,000 13,649,646 13,767,520 WASHINGTON MUTUAL BANK / DEBT 0.051250 1/15/2015 3,000,000 2,999,957 300 WASHINGTON REAL ESTATE INVESTM 0.039500 10/15/2022 10,000,000 10,119,927 10,278,243 WELLS FARGO & CO 0.137590 7/1/2400 47,000,000 49,130,116 51,442,950 Total CORPORATE OBLIGATIONS $ 1,090,996,017 $ 1,146,458,160 $ 1,207,112,999

Page 2 of 5 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

PSF(SBOE) FIXED INCOME SECURITIES

Coupon Rate Maturity Date Par Value Book Value Fair Value NON‐AGENCY MORTGAGE BACKED SECURITIES AGATE BAY MORTGAGE 1 A13 144A 0.035000 1/25/2045 2,869,408 2,876,829 2,956,252 NON‐AGENCY MORTGAGE BACKED SECURITIES CHASE HOME LENDI ATR2 A15 144A 0.035000 7/25/2049 4,538,371 4,560,875 4,647,577 CIM TRUST 2019‐J2 J2 A13 144A 0.035000 10/25/2049 11,541,834 11,805,653 11,823,444 CSMC TRUST 2013‐TH TH1 A1 144A 0.021300 2/25/2043 3,444,598 3,194,130 3,531,193 JP MORGAN MORTGA INV1 A15 144A 0.035000 8/25/2050 8,695,563 8,900,055 8,841,076 JP MORGAN MORTGA IVR3 2A1 144A 0.030000 9/25/2044 2,236,606 2,252,622 2,294,200 JP MORGAN MORTGAGE 3 1A13 144A 0.035000 8/25/2047 6,056,562 6,118,367 6,203,024 JP MORGAN MORTGAGE T 1 A7 144A 0.035000 5/25/2046 6,750,000 6,926,201 6,948,396 JP MORGAN MORTGAGE T 5 A1 144A 0.026245 12/25/2046 6,423,357 6,421,303 6,544,820 JP MORGAN TRUST 2015 3 A3 144A 0.035000 5/25/2045 4,804,855 4,814,917 4,954,801 MILL CITY MORTGAGE L 1 M1 144A 0.035000 10/25/2069 10,081,431 10,670,912 11,030,464 OAKS MORTGAGE TRUST 2 B2 144A 0.038751 10/25/2045 4,965,870 5,039,127 5,069,651 ONSLOW BAY MORTGAGE 1 2A4 144A 0.030000 11/25/2045 4,104,395 4,144,302 4,223,381 SEQUOIA MORTGAGE TRU 3 A7 144A 0.030000 4/25/2050 10,000,000 10,461,454 10,101,268 SEQUOIA MORTGAGE TRUST 20 3 B1 0.041295 7/25/2042 5,028,987 5,278,204 5,142,566 SEQUOIA MORTGAGE TRUST 20 3 B2 0.041295 7/25/2042 2,793,459 2,902,574 2,841,391 SEQUOIA MORTGAGE TRUST 20 7 A2 0.030000 6/25/2043 3,932,539 3,742,152 4,044,887 TOWD POINT MORTGAG HY2 A2 144A 0.015481 5/25/2058 14,140,000 14,210,661 14,215,679 Total NON‐AGENCY MORTGAGE BACKED SECURITIES $ 112,407,835 $ 114,320,338 $ 115,414,070

NON‐U.S. GOVERNMENT AGENCY OBLIGATIONS AFRICAN DEVELOPMENT BANK 0.021250 11/16/2022 5,000,000 4,947,972 5,207,042 BANCO DE CREDITO DEL PERU 144A 0.027000 1/11/2025 2,500,000 2,498,158 2,600,000 CARIBBEAN DEVELOPMENT BAN 144A 0.043750 11/9/2027 5,000,000 5,000,000 5,737,500 CHILE GOVERNMENT INTERNATIONAL 0.103500 4/13/2297 13,000,000 13,116,039 14,408,410 COLOMBIA GOVERNMENT INTERNATIO 0.038750 4/25/2027 5,000,000 5,243,672 5,445,050 CORP ANDINA DE FOMENTO 0.027500 1/6/2023 5,000,000 4,963,675 5,196,900 CORP FINANCIERA DE DESARR 144A 0.047500 7/15/2025 2,500,000 2,582,789 2,803,775 CPPIB CAPITAL INC 144A 0.023750 1/29/2021 10,000,000 9,994,769 10,081,858 EUROPEAN INVESTMENT BANK 0.022500 8/15/2022 10,000,000 10,059,157 10,397,824 FONDO MIVIVIENDA SA 144A 0.035000 1/31/2023 5,000,000 4,775,000 5,187,550 INTER‐AMERICAN DEVELOPMENT BAN 0.005000 7/14/2023 10,000,000 9,617,491 9,984,900 INTERNATIONAL BANK FOR RECONST 0.013750 5/24/2021 10,000,000 10,001,871 10,080,113 KOREA DEVELOPMENT BANK/THE 0.027500 3/19/2023 2,000,000 1,952,123 2,106,978 KOREA NATIONAL OIL CORP 144A 0.033750 3/27/2027 2,000,000 1,923,815 2,221,418 MEXICO GOVERNMENT INTERNATIONA 0.036250 3/15/2022 5,000,000 5,009,945 5,237,500 PANAMA GOVERNMENT INTERNATIONA 0.031600 1/23/2030 10,000,000 10,620,977 10,892,500 PETROLEOS MEXICANOS 0.048750 1/24/2022 4,000,000 4,102,489 4,059,000 PETROLEOS MEXICANOS 144A 0.059500 1/28/2031 3,177,000 3,024,142 2,870,102 ROMANIAN GOVERNMENT INTER 144A 0.067500 2/7/2022 5,000,000 5,155,343 5,375,960 Total NON‐U.S. GOVERNMENT AGENCY OBLIGATIONS $ 114,177,000 $ 114,589,427 $ 119,894,380

NON‐U.S. GOVERNMENT SOVEREIGN DEBT OBLIGATIONS COLOMBIA GOVERNMENT INTERNATIO 0.045000 1/28/2026 5,000,000 5,207,939 5,552,550 INDONESIA GOVERNMENT INTE 144A 0.096000 1/26/2169 15,000,000 16,008,768 18,680,900 LITHUANIA GOVERNMENT INTE 144A 0.066250 2/1/2022 10,000,000 10,607,926 10,821,560 MEXICO GOVERNMENT INTERNATIONA 0.089000 6/5/2171 19,000,000 19,584,877 21,181,000 PHILIPPINE GOVERNMENT INTERNAT 0.094500 4/20/2166 10,000,000 10,928,809 12,025,750 Total NON‐U.S. GOVERNMENT SOVEREIGN DEBT OBLIGATIONS $ 59,000,000 $ 62,338,319 $ 68,261,760

U.S. GOVERNMENT AGENCY OBLIGATIONS FEDERAL FARM CR BK CONS BD 0.042751 8/16/2422 37,515,000 37,513,207 37,404,696 FEDERAL HOME LN BK CONS BD 0.021250 6/12/2026 10,000,000 10,070,055 10,865,119 TENNESSEE VALLEY AUTH BD 0.028750 9/15/2024 10,000,000 10,441,898 11,016,529 TENNESSEE VALLEY AUTH STRIP ‐ 11/1/2025 7,949,000 7,050,936 7,667,646 Total U.S. GOVERNMENT AGENCY OBLIGATIONS $ 65,464,000 $ 65,076,096 $ 66,953,990

U.S. GOVERNMENT AGENCY MORTGAGE BACKED SECURITIES FHLMC POOL #A2‐8097 0.055000 11/1/2034 1,072,054 1,114,556 1,260,582 FHLMC POOL #C0‐1598 0.050000 8/1/2033 1,066,622 1,095,947 1,227,965 FHLMC POOL #U6‐1972 0.030000 1/1/2043 3,243,390 3,347,662 3,436,069 FHLMC MULTICLASS MTG 2137 TN 0.065000 3/15/2029 350,241 342,452 364,075 FHLMC MULTICLASS MTG 2183 TH 0.070000 9/15/2029 199,987 197,287 233,869 FHLMC MULTICLASS MTG 3000 BH 0.060000 7/15/2035 206,917 207,840 219,982 FHLMC MULTICLASS MTG 40 K 0.065000 8/17/2024 303,720 297,593 323,360 FHLMC MULTICLASS MTG 4050 LY 0.040000 5/15/2042 6,100,000 6,675,150 7,316,064 FHLMC MULTICLASS MTG 4223 CV 0.040000 6/15/2026 6,535,848 6,903,673 6,614,860 FHLMC MULTICLASS MTG 4435 DY 0.030000 2/15/2035 5,000,000 4,935,861 5,544,590 FHLMC MULTICLASS MTG 4462 KD 0.030000 1/15/2045 8,767,355 9,125,242 9,277,564 FHLMC MULTICLASS MTG 4691 HA 0.025000 6/15/2040 9,131,766 9,610,109 9,594,534 FHLMC MULTICLASS MTG 4758 A 0.030000 2/15/2048 14,441,870 14,424,344 15,489,723 FHLMC MULTICLASS MTG 4820 UP 0.035000 8/15/2048 3,626,141 3,707,014 3,796,552 FHLMC MULTICLASS MTG 4913 UA 0.030000 3/15/2049 3,613,511 3,687,172 3,799,881 FHLMC MULTICLASS MTG 4936 PM 0.035000 9/25/2049 28,327,251 29,436,695 30,323,266 FHLMC MULTICLASS MTG 4936 QM 0.035000 10/25/2049 4,229,142 4,378,850 4,528,801 FHLMC MULTICLASS MTG 4958 DL 0.040000 1/25/2050 5,000,000 5,393,395 5,467,363 FHLMC MULTICLASS MTG 4979 AL 0.020000 6/25/2050 10,000,000 10,306,634 10,292,939 FHLMC MULTICLASS MTG 4988 A 0.020000 5/25/2046 14,833,262 15,243,710 15,251,821 FHLMC MULTICLASS STRIP 356 300 0.030000 9/15/2047 10,203,908 10,417,699 10,855,405 FHLMC MULTICLASS STRIP 358 300 0.030000 10/15/2047 9,886,740 10,004,370 10,481,263 FNMA POOL #0725690 0.060000 8/1/2034 1,408,055 1,453,846 1,666,173 FNMA POOL #0761748 0.055000 1/1/2034 1,024,682 354,066 1,204,847

Page 3 of 5 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

PSF(SBOE) FIXED INCOME SECURITIES

Coupon Rate Maturity Date Par Value Book Value Fair Value U.S. GOVERNMENT AGENCY MORTGAGE BACKED SECURITIES FNMA POOL #0887584 0.060000 7/1/2036 706,772 719,032 834,893 FNMA POOL #0AB1345 0.045000 8/1/2040 3,730,306 3,128,345 4,117,288 FNMA POOL #0AP3106 0.030000 9/1/2042 3,603,088 3,738,821 3,816,832 FNMA GTD REMIC P/T 10‐96 KB 0.045000 9/25/2025 2,555,209 2,615,833 2,629,033 FNMA GTD REMIC P/T 12‐106 QN 0.035000 10/25/2042 2,941,779 3,088,454 3,171,693 FNMA GTD REMIC P/T 13‐106 LA 0.040000 8/25/2041 7,483,815 7,752,554 8,362,578 FNMA GTD REMIC P/T 13‐132 PN 0.030000 1/25/2044 17,444,000 16,141,569 19,179,819 FNMA GTD REMIC P/T 13‐89 PA 0.035000 2/25/2043 6,620,027 6,902,861 6,890,844 FNMA GTD REMIC P/T 14‐7 AJ 0.035000 7/25/2039 2,046,352 2,157,121 2,079,957 FNMA GTD REMIC P/T 15‐29 CA 0.030000 2/25/2044 7,456,292 7,808,394 7,839,808 FNMA GTD REMIC P/T 15‐48 DC 0.030000 1/25/2042 12,896,735 13,224,816 13,599,859 FNMA GTD REMIC P/T 16‐2 NA 0.030000 9/25/2040 9,637,159 9,784,050 9,765,846 FNMA GTD REMIC P/T 16‐24 HA 0.030000 4/25/2044 8,238,918 8,485,803 8,489,555 FNMA GTD REMIC P/T 17‐25 BE 0.022500 1/25/2046 5,009,126 5,003,350 5,194,050 FNMA GTD REMIC P/T 17‐85 PA 0.027500 11/25/2047 6,155,374 6,246,766 6,507,282 FNMA GTD REMIC P/T 17‐87 UA 0.035000 12/25/2044 13,116,108 14,443,767 14,459,321 FNMA GTD REMIC P/T 20‐10 LP 0.035000 3/25/2050 23,547,000 24,785,306 25,145,076 FNMA GTD REMIC P/T 20‐35 BA 0.020000 6/25/2050 9,898,367 10,273,334 10,202,146 FNMA GTD REMIC P/T 20‐37 TB 0.020000 6/25/2050 10,000,000 10,310,515 10,257,046 FNMA GTD REMIC P/T 20‐39 MY 0.020000 6/25/2050 10,015,730 10,382,705 10,273,241 FNMA GTD REMIC P/T 20‐45 HC 0.015000 7/25/2040 8,909,130 9,030,736 9,099,258 FNMA GTD REMIC P/T 20‐45 HN 0.015000 7/25/2040 15,885,182 16,168,529 16,259,772 FNMA GTD REMIC P/T 20‐45 JP 0.015000 7/25/2050 9,942,042 10,025,551 10,109,432 FNMA GTD REMIC P/T 20‐59 MN 0.020000 8/25/2040 20,291,000 21,178,706 20,887,417 FNMA GTD REMIC P/T 20‐61 DC 0.015000 9/25/2060 10,000,000 10,223,438 10,223,438 FNMA GTD REMIC P/T 90‐100 L 0.095850 9/25/2020 22 22 22 FNMA GTD REMIC P/T 90‐119 J 0.090000 10/25/2020 215 215 215 FNMA GTD REMIC P/T 91‐101 G 0.090000 8/25/2021 5,193 5,181 5,345 FNMA GTD REMIC P/T 91‐39 J 0.090000 5/25/2021 2,223 2,220 2,257 FNMA GTD REMIC P/T 91‐96 KA 0.090000 8/25/2021 3,702 3,691 3,807 FNMA GTD REMIC P/T 99‐64 LH 0.070000 1/25/2030 636,732 632,249 730,731 FNMA GTD REMIC P/T G‐32 K 0.090000 10/25/2021 6,174 6,167 6,333 FNMA GTD REMIC P/T G‐32 M 0.089000 10/25/2021 6,174 6,176 6,331 GNMA GTD REMIC P/T 10‐103 PE 0.045000 8/20/2040 25,662,580 26,953,545 28,529,740 GNMA GTD REMIC P/T 13‐13 A 0.017000 4/16/2046 9,700,575 9,796,524 9,816,115 GNMA GTD REMIC P/T 13‐131 PY 0.035000 9/16/2043 6,104,000 5,972,440 6,819,955 GNMA GTD REMIC P/T 15‐103 CP 0.020000 7/20/2045 6,061,146 5,763,924 6,262,737 GNMA GTD REMIC P/T 17‐123 AB 0.025000 1/20/2047 8,646,732 8,393,778 8,949,306 GNMA GTD REMIC P/T 17‐165 HP 0.025000 6/20/2047 4,552,022 4,335,916 4,735,254 GNMA GTD REMIC P/T 18‐14 PA 0.030000 10/20/2047 11,283,938 11,203,888 11,986,534 GNMA GTD REMIC P/T 20‐106 EA 0.017500 5/16/2061 9,996,562 10,294,060 10,265,149 GNMA GTD REMIC P/T 20‐34 DL 0.030000 3/20/2050 3,574,049 3,737,050 3,723,956 GNMA GTD REMIC P/T 20‐62 PB 0.030000 3/20/2048 9,893,678 10,393,001 10,234,988 GNMA GTD REMIC P/T 20‐65 YC 0.020000 5/20/2050 14,825,750 15,145,707 15,118,228 GNMA GTD REMIC P/T 20‐97 HB 0.010000 7/20/2050 9,981,732 9,919,500 10,003,756 GNMA II POOL #0003986 0.060000 5/20/2037 831,809 862,703 957,508 GNMA II POOL #0752631 0.045000 10/20/2040 3,976,201 2,891,368 4,406,881 VENDEE MORTGAGE TRUST 201 1 DA 0.042500 2/15/2035 1,667,916 1,230,824 1,702,796 Total U.S. GOVERNMENT AGENCY MORTGAGE BACKED SECURITIES $ 504,121,098 $ 513,831,672 $ 532,234,976

U.S. TAXABLE MUNICIPAL OBLIGATIONS ADMINISTRATORS OF THE TULANE E 0.050000 10/1/2047 5,015,000 4,531,290 5,310,333 KING CNTY WA SWR REVENUE 0.024300 1/1/2039 3,360,000 3,434,905 3,418,330 LONG BEACH CA UNIF SCH DIST 0.059140 8/1/2025 5,000,000 5,573,753 5,852,150 MONTGOMERY CNTY MD 0.017500 11/1/2033 10,000,000 10,045,446 10,083,100 NEW YORK CITY NY TRANSITIONAL 0.033300 2/1/2028 5,000,000 5,036,273 5,582,000 SAN DIEGO CA UNIF SCH DIST 0.026500 7/1/2034 8,500,000 8,810,530 8,983,055 TEXAS ST TRANSPRTN COMMISSIONS 0.051780 4/1/2030 4,550,000 5,249,973 5,897,346 TEXAS ST UNIV SYS FING REVENUE 0.041230 3/15/2035 7,750,000 7,816,717 8,551,815 TRUSTEES OF AMHERST COLLEGE/TH 0.041000 11/1/2045 5,000,000 5,069,161 6,146,956 UNIV OF CINCINNATI OH RECPTS 0.051530 6/1/2033 5,000,000 5,000,000 5,730,600 Total U.S. TAXABLE MUNICIPAL OBLIGATIONS $ 59,175,000 $ 60,568,048 $ 65,555,685

U.S. TREASURY INFLATION PROTECTED SECURITIES US TREAS‐CPI INFLAT 0.001250 7/15/2024 16,282,800 16,402,890 17,364,720 Total U.S. TREASURY INFLATION PROTECTED SECURITIES $ 16,282,800 $ 16,402,890 $ 17,364,720

U.S. TREASURY SECURITIES U S TREASURY BOND 0.027500 8/15/2042 30,000,000 32,470,666 38,339,062 U S TREASURY BOND 0.036250 8/15/2043 50,000,000 55,488,246 72,828,125 U S TREASURY BOND 0.030000 11/15/2044 80,000,000 87,052,409 106,631,250 U S TREASURY BOND 0.030000 11/15/2045 10,000,000 11,050,536 13,405,078 U S TREASURY BOND 0.025000 5/15/2046 24,000,000 24,993,360 29,589,375 U S TREASURY BOND 0.030000 5/15/2047 10,000,000 13,689,237 13,537,500 U S TREASURY BOND 0.022500 8/15/2049 18,000,000 22,280,415 21,417,891 U S TREASURY BOND 0.012500 5/15/2050 20,000,000 20,251,757 19,000,000 U S TREASURY BOND 0.013750 8/15/2050 5,000,000 4,953,927 4,906,250 U S TREASURY NOTE 0.020000 10/31/2022 85,000,000 84,337,572 88,416,601 U S TREASURY NOTE 0.023750 1/31/2023 25,000,000 24,849,942 26,349,610 U S TREASURY NOTE 0.026250 6/30/2023 89,000,000 93,005,830 95,226,524 U S TREASURY NOTE 0.028750 8/15/2028 11,000,000 11,649,462 12,984,727 U S TREASURY NOTE 0.027500 8/15/2021 40,000,000 40,034,701 40,984,375 U S TREASURY NOTE 0.025000 1/31/2024 25,000,000 25,113,159 26,978,516

Page 4 of 5 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

PSF(SBOE) FIXED INCOME SECURITIES

Coupon Rate Maturity Date Par Value Book Value Fair Value U.S. TREASURY SECURITIES U S TREASURY NOTE 0.026250 2/15/2029 90,000,000 94,886,644 105,053,906 U S TREASURY NOTE 0.017500 7/15/2022 20,000,000 19,978,182 20,598,438 U S TREASURY NOTE 0.027500 2/15/2024 30,000,000 30,680,528 32,660,156 U S TREASURY NOTE 0.020000 2/28/2021 24,000,000 24,070,480 24,225,000 U S TREASURY NOTE 0.023750 8/15/2024 67,000,000 67,375,089 72,723,789 U S TREASURY NOTE 0.022500 11/15/2024 133,000,000 135,241,122 144,315,390 U S TREASURY NOTE 0.018750 8/31/2022 20,000,000 20,022,324 20,693,750 U S TREASURY NOTE 0.022500 11/15/2025 87,000,000 87,794,942 95,774,766 U S TREASURY NOTE 0.016250 5/15/2026 24,000,000 23,216,672 25,725,937 U S TREASURY NOTE 0.021250 8/15/2021 57,000,000 61,099,997 58,068,750 U S TREASURY NOTE 0.027500 11/15/2023 20,000,000 20,005,239 21,650,000 U S TREASURY NOTE 0.016250 8/15/2029 28,000,000 30,475,141 30,437,969 U S TREASURY NOTE 0.013750 10/15/2022 40,000,000 39,826,540 41,043,750 U S TREASURY NOTE 0.006250 3/31/2027 25,000,000 25,208,602 25,291,992 U S TREASURY NOTE 0.005000 4/30/2027 80,000,000 79,807,980 80,243,750 U S TREASURY NOTE 0.001250 5/15/2023 75,000,000 74,880,482 74,958,984 U S TREASURY NOTE 0.005000 5/31/2027 30,000,000 30,243,489 30,076,172 U S TREASURY NOTE 0.002500 5/31/2025 30,000,000 29,881,854 30,002,344 Total U.S. TREASURY SECURITIES $ 1,402,000,000 $ 1,445,916,524 $ 1,544,139,727

TOTAL PSF(SBOE) DOMESTIC FIXED INCOME SECURITIES $ 3,839,412,660 $ 3,956,467,663 $ 4,124,017,129

Page 5 of 5 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

PSF(SBOE) REAL RETURN TIPS SECURITIES

Coupon Rate Maturity Date Par Value Book Value Fair Value U.S. TREASURY TIPS US TREAS‐CPI INFLAT 0.038750 4/15/2029 $ 31,358,000 $ 39,438,409 $ 45,659,309 US TREAS‐CPI INFLAT 0.007500 2/15/2042 22,813,800 21,940,554 28,969,222 US TREAS‐CPI INFLAT 0.006250 2/15/2043 22,421,800 20,991,959 27,883,033 US TREAS‐CPI INFLAT 0.013750 2/15/2044 38,708,250 41,795,353 55,644,626 US TREAS‐CPI INFLAT 0.007500 2/15/2045 32,837,100 34,392,778 42,300,861 US TREAS‐CPI INFLAT 0.010000 2/15/2046 27,195,250 35,391,392 37,155,280 US TREAS‐CPI INFLAT 0.003750 7/15/2027 73,758,300 73,903,300 82,864,128 US TREAS‐CPI INFLAT 0.005000 1/15/2028 57,471,700 56,301,417 65,127,303 US TREAS‐CPI INFLAT 0.008750 1/15/2029 45,935,550 51,223,559 54,127,464 US TREAS‐CPI INFLAT 0.005000 4/15/2024 40,879,200 41,633,142 43,777,608 US TREAS‐CPI INFLAT 0.002500 7/15/2029 35,267,750 39,401,007 39,948,479 US TREAS‐CPI INFLAT 0.002500 1/15/2025 114,264,150 114,290,457 123,014,061 US TREAS‐CPI INFLAT 0.006250 1/15/2026 21,695,200 21,115,476 24,142,734 US TREAS‐CPI INFLAT 0.011250 1/15/2021 64,805,400 64,992,350 65,469,885 US TREAS‐CPI INFLAT 0.001250 4/15/2021 59,814,150 59,879,412 60,302,964 US TREAS‐CPI INFLAT 0.001250 1/15/2023 51,366,820 50,830,581 53,264,139 US TREAS‐CPI INFLAT 0.003750 1/15/2027 37,346,050 38,185,662 41,550,392 US TREAS‐CPI INFLAT 0.001250 7/15/2024 21,710,400 22,304,609 23,152,961 US TREAS‐CPI INFLAT 0.001250 4/15/2022 52,992,500 52,656,316 54,193,157 US TREAS‐CPI INFLAT 0.003750 7/15/2025 76,083,000 75,590,318 83,364,988 US TREAS‐CPI INFLAT 0.001250 1/15/2030 8,014,560 8,894,725 8,974,711 Total U.S. TREASURY TIPS $ 936,738,930 $ 965,152,776 $ 1,060,887,305

PSF(SBOE) TOTAL REAL RETURN TIPS SECURITIES $ 936,738,930 $ 965,152,776 $ 1,060,887,305

Page 1 of 1 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

PSF(SBOE) REAL RETURN ‐ Commodities Collateral

Coupon Rate Maturity Date Par Value Book Value Fair Value U.S. TREASURY SECURITIES U.S. TREASURY SECURITIES 1.375% 01/31/2021 DD 01/31/16 0.013750 1/31/2021 $ 15,000,000 $ 15,103,125 $ 15,073,828 U.S. TREASURY SECURITIES 2.250% 07/31/2021 DD 07/31/14 0.022500 7/31/2021 5,000,000 5,130,078 5,093,750 Total U.S. TREASURY SECURITIES $ 20,000,000 $ 20,233,203 $ 20,167,578

PSF(SBOE) REAL RETURN ‐ Commodities Collateral $ 20,000,000 $ 20,233,203 $ 20,167,578

Page 1 of 1 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

PSF(SBOE) U.S. TREASURIES

Coupon Rate Maturity Date Par Value Book Value Fair Value U.S. TREASURY SECURITIES U.S. TREASURIES 3.125% 02/15/2043 DD 02/15/13 0.031250 2/15/2043 $ 40,000,000 $ 55,088,403 $ 54,099,998 U.S. TREASURIES 3.625% 08/15/2043 DD 08/15/13 0.036250 8/15/2043 40,000,000 59,109,246 58,262,500 U.S. TREASURIES 3.750% 11/15/2043 DD 11/15/13 0.037500 11/15/2043 20,000,000 30,066,919 29,662,500 U.S. TREASURIES 3.625% 02/15/2044 DD 02/15/14 0.036250 2/15/2044 50,000,000 74,298,161 72,945,313 U.S. TREASURIES 2.500% 02/15/2045 DD 02/15/15 0.025000 2/15/2045 50,000,000 62,003,869 61,468,750 U.S. TREASURIES 2.875% 08/15/2045 DD 08/15/15 0.028750 8/15/2045 20,000,000 26,339,154 26,253,125 U.S. TREASURIES 2.500% 02/15/2046 DD 02/15/16 0.025000 2/15/2046 20,000,000 24,988,192 24,668,750 U.S. TREASURIES 2.875% 11/15/2046 DD 11/15/16 0.028750 11/15/2046 65,000,000 88,593,991 85,901,563 U.S. TREASURIES 3.000% 02/15/2047 DD 02/15/17 0.030000 2/15/2047 45,000,000 62,958,392 60,855,469 U.S. TREASURIES 3.000% 05/15/2047 DD 05/15/17 0.030000 5/15/2047 30,000,000 41,652,731 40,612,500 U.S. TREASURIES 2.375% 11/15/2049 DD 11/15/19 0.023750 11/15/2049 20,000,000 24,661,768 24,459,375 U.S. TREASURIES 2.000% 02/15/2050 DD 02/15/20 0.020000 2/15/2050 25,000,000 29,227,963 28,328,125 U.S. TREASURIES 1.250% 05/15/2050 DD 05/15/20 0.012500 5/15/2050 115,000,000 115,894,975 109,250,000 U.S. TREASURIES 1.375% 08/15/2050 DD 08/15/20 0.013750 8/15/2050 30,000,000 29,361,577 29,437,500 U.S. TREASURIES1.125% 08/15/2040 DD 08/15/20 0.011250 8/15/2040 30,000,000 29,220,406 29,460,938 U.S. TREASURIES 1.125% 05/15/2040 DD 05/15/20 0.011250 5/15/2040 95,000,000 97,634,598 93,678,906 U.S. TREASURIES 0.625% 05/15/2030 DD 05/15/20 0.006250 5/15/2030 65,000,000 65,345,674 64,664,844 U.S. TREASURY SECURITIES Total $ 760,000,000 $ 916,446,019 $ 894,010,156

TOTAL PSF(SBOE) U.S. TREASURIES $ 760,000,000 $ 916,446,019 $ 894,010,156

Page 1 of 1 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

Liquid(SBOE) SHORT TERM FIXED INCOME

Coupon Rate Maturity Date Par Value Book Value Fair Value ASSET BACKED SECURITIES DRIVE AUTO RECEIVABLES TRU 4 D 0.040900 1/15/2026 $ 4,999,999 $ 5,122,820 $ 5,225,683 DT AUTO OWNER TRUST 1A D 144A 0.038100 12/15/2023 39,060,000 39,566,485 39,704,318 DT AUTO OWNER TRUST 2A D 144A 0.041500 3/15/2024 7,000,000 7,151,033 7,158,302 DT AUTO OWNER TRUST 3A D 144A 0.041900 7/15/2024 15,000,000 15,424,427 15,547,020 EXETER AUTOMOBILE RE 2A D 144A 0.040400 3/15/2024 15,000,000 15,369,446 15,313,788 EXETER AUTOMOBILE RE 3A D 144A 0.043500 6/17/2024 8,000,000 8,258,979 8,290,329 FINANCE OF AMERICA AB1 A 144A 0.026562 12/27/2049 3,707,111 3,707,105 3,707,103 FOURSIGHT CAPITAL AUT 1 B 144A 0.035300 4/17/2023 816,000 823,103 827,679 RAMP SERIES 2005‐RS7 TR RS7 M1 0.006481 7/25/2035 2,251,164 2,222,547 2,244,081 TOWD POINT MORTGAG SJ2 M1 144A 0.045000 11/25/2058 10,000,000 10,349,107 10,359,632 WESTLAKE AUTOMOBILE 2A C 144A 0.035000 1/16/2024 2,821,659 2,845,554 2,841,513 WESTLAKE AUTOMOBILE 3A D 144A 0.040000 10/16/2023 17,557,000 17,989,197 18,092,501 Total ASSET BACKED SECURITIES $ 126,212,933 $ 128,829,803 $ 129,311,949

COMMERCIAL MORTGAGE BACKED SECURITIES BX COMMERCIAL MORT BXLP C 144A 0.012724 12/15/2036 2,997,256 2,997,256 2,974,744 BX COMMERCIAL MORT BXLP D 144A 0.014024 12/15/2036 999,086 999,086 985,326 COMM 2015‐LC23 MORTGAG LC23 A2 0.032210 10/10/2048 2,712,050 2,730,462 2,716,960 Total COMMERCIAL MORTGAGE BACKED SECURITIES $ 6,708,392 $ 6,726,804 $ 6,677,030

CORPORATE OBLIGATIONS APPLE INC 0.034500 9/22/2145 10,750,000 10,926,036 11,076,820 ASTRAZENECA PLC 0.023750 11/16/2020 9,308,000 9,314,939 9,348,583 ATHENE GLOBAL FUNDING 144A 0.050500 7/15/2150 22,500,000 22,500,288 23,296,472 BANCO SANTANDER SA 0.040921 7/22/2148 7,000,000 7,050,551 7,148,366 BANK OF AMERICA CORP 0.020150 2/13/2026 10,000,000 10,214,238 10,423,309 BARCLAYS BANK PLC 0.017000 5/12/2022 5,000,000 4,996,516 5,089,126 BARCLAYS PLC 0.017101 2/15/2023 10,000,000 10,031,740 10,040,327 BMW US CAPITAL LLC 144A 0.007981 4/14/2022 10,000,000 10,017,935 9,996,786 BOEING CO/THE 0.067580 10/15/2149 15,000,000 14,865,321 15,239,334 CARGILL INC 144A 0.013750 7/23/2023 10,000,000 10,011,718 10,238,012 CITIBANK NA 0.028440 5/20/2022 10,000,000 10,102,667 10,172,633 DEERE & CO 0.027500 4/15/2025 2,000,000 1,997,506 2,189,220 DELL INTERNATIONAL LLC / 144A 0.054500 6/15/2023 7,450,000 7,979,610 8,228,299 DIAGEO CAPITAL PLC 0.013750 9/29/2025 7,925,000 8,000,622 8,178,701 DUPONT DE NEMOURS INC 0.021690 5/1/2023 10,000,000 10,201,288 10,198,085 FIRST HORIZON NATIONAL CORP 0.040000 5/26/2025 4,000,000 4,010,198 4,349,326 FORD MOTOR CREDIT CO LLC 0.113750 7/3/2269 20,000,000 20,184,403 20,150,550 GENERAL ELECTRIC CO 0.012504 3/15/2023 18,500,000 18,409,985 18,494,743 GEORGIA‐PACIFIC LLC 144A 0.017500 9/30/2025 5,000,000 4,999,040 5,228,328 GILEAD SCIENCES INC 0.025500 9/1/2020 10,000,000 10,000,000 10,000,000 GOLDMAN SACHS GROUP INC/THE 0.028541 4/29/2148 20,960,000 21,172,987 21,186,045 HEALTH CARE SERVICE CORP 144A 0.015000 6/1/2025 3,000,000 2,993,292 3,083,061 HERSHEY CO/THE 0.009000 6/1/2025 2,000,000 1,996,482 2,020,652 HONEYWELL INTERNATIONAL INC 0.013500 6/1/2025 3,000,000 2,999,719 3,090,403 KEURIG DR PEPPER INC 0.035510 5/25/2021 9,565,000 9,717,553 9,789,774 KRAFT HEINZ FOODS CO 0.010633 8/10/2022 12,000,000 12,037,878 11,949,469 MARS INC 144A 0.008750 7/16/2026 10,000,000 9,993,194 9,960,671 MICROCHIP TECHNOLOGY INC 0.039220 6/1/2021 10,000,000 10,111,419 10,226,830 MORGAN STANLEY 0.016635 10/24/2023 10,000,000 10,230,544 10,187,360 MPLX LP 0.013418 9/9/2022 10,000,000 10,029,099 10,000,897 NATIONAL SECURITIES CLEAR 144A 0.012000 4/23/2023 3,000,000 2,998,606 3,056,770 NUCOR CORP 0.020000 6/1/2025 10,000,000 10,358,429 10,493,225 NUTRIEN LTD 0.019000 5/13/2023 5,000,000 4,995,942 5,169,758 ROLLS‐ROYCE PLC 144A 0.036250 10/14/2025 5,000,000 5,205,514 4,832,733 STANDARD CHARTERED PLC 144A 0.038850 3/15/2024 7,000,000 7,268,030 7,408,774 SUMITOMO MITSUI FINANCIAL GROU 0.014118 10/19/2021 8,593,000 8,666,046 8,686,349 UNITEDHEALTH GROUP INC 0.012500 1/15/2026 2,000,000 1,992,648 2,052,990 USAA CAPITAL CORP 144A 0.015000 5/1/2023 2,000,000 1,997,813 2,058,409 WEA FINANCE LLC / WESTFIE 144A 0.032500 10/5/2020 15,000,000 15,011,886 15,011,121 Total CORPORATE OBLIGATIONS $ 352,551,000 $ 355,591,682 $ 359,352,311

NON‐AGENCY MORTGAGE BACKED SECURITIES FLAGSTAR MORTGAGE 6RR 1A1 144A 0.040000 10/25/2048 4,838,669 4,904,740 4,905,200 GS MORTGAGE‐BACKED PJ3 A4 144A 0.030000 10/25/2050 8,385,973 8,504,589 8,587,759 GS MORTGAGE‐BACKED SL1 A1 144A 0.026250 1/25/2059 6,786,895 6,782,681 6,884,544 JP MORGAN MORTGAGE 4 A15 144A 0.030000 11/25/2050 11,545,226 11,805,886 11,814,461 JP MORGAN MORTGAGE T 3 A3 144A 0.040000 9/25/2049 1,661,993 1,676,251 1,706,214 SEQUOIA MORTGAGE TRU 1 B1 144A 0.039162 4/25/2044 4,675,500 4,798,943 4,774,494 Total NON‐AGENCY MORTGAGE BACKED SECURITIES $ 37,894,256 $ 38,473,090 $ 38,672,672

NON‐U.S. GOVERNMENT AGENCY OBLIGATIONS BANCO DE CREDITO DEL PERU 144A 0.027000 1/11/2025 10,000,000 9,999,999 10,399,999 BANCO DEL ESTADO DE CHILE 144A 0.026680 1/8/2021 3,800,000 3,804,465 3,814,963 COLOMBIA GOVERNMENT INTERNATIO 0.043750 7/12/2021 9,495,000 9,661,952 9,766,842 CORP FINANCIERA DE DESARR 144A 0.047500 2/8/2022 2,601,000 2,683,530 2,714,820 FONDO MIVIVIENDA SA 144A 0.035000 1/31/2023 7,500,000 7,648,417 7,781,325 INDONESIA GOVERNMENT INTE REGS 0.037500 4/25/2022 3,000,000 3,064,712 3,122,700 KOREA DEVELOPMENT BANK/THE 0.007711 10/1/2022 5,000,000 5,022,308 4,998,040 ROMANIAN GOVERNMENT INTER 144A 0.067500 2/7/2022 5,000,000 5,155,343 5,375,960 Total NON‐U.S. GOVERNMENT AGENCY OBLIGATIONS $ 46,396,000 $ 47,040,726 $ 47,974,649

Page 1 of 2 TEXAS PERMANENT SCHOOL FUND SCHEDULE OF INVESTMENTS HELD AS OF AUGUST 31, 2020 (Unaudited)

Liquid(SBOE) SHORT TERM FIXED INCOME

Coupon Rate Maturity Date Par Value Book Value Fair Value U.S. GOVERNMENT AGENCY OBLIGATIONS FEDERAL FARM CR BK CONS BD 0.007300 12/3/2024 10,000,000 9,997,614 10,000,009 Total U.S. GOVERNMENT AGENCY OBLIGATIONS $ 10,000,000 $ 9,997,614 $ 10,000,009

U.S. GOVERNMENT AGENCY MORTGAGE BACKED SECURITIES FHLMC POOL #RA‐3021 0.025000 7/1/2050 9,895,292 10,334,477 10,419,398 FHLMC MULTICLASS MTG 4124 PA 0.020000 4/15/2042 9,684,733 9,972,839 10,058,053 FHLMC MULTICLASS MTG 4774 E 0.040000 3/15/2043 3,480,415 3,532,525 3,530,172 FHLMC MULTICLASS MTG 4782 K 0.040000 3/15/2043 2,839,376 2,881,888 2,879,986 FHLMC MULTICLASS MTG 4913 UA 0.030000 3/15/2049 2,262,058 2,331,355 2,378,726 FHLMC MULTICLASS MTG 4914 MA 0.030000 5/25/2044 5,787,484 5,892,340 5,924,598 FHLMC MULTICLASS MTG 4946 DP 0.025000 1/25/2050 2,946,250 3,011,933 3,073,606 FHLMC MULTICLASS MTG 4988 BA 0.015000 6/25/2050 9,933,248 9,910,071 9,973,739 FNMA GTD REMIC P/T 20‐45 HC 0.015000 7/25/2040 9,899,034 9,988,091 10,110,287 FNMA GTD REMIC P/T 20‐45 JP 0.015000 7/25/2050 10,235,914 10,305,970 10,408,252 FNMA GTD REMIC P/T 20‐45 KG 0.020000 7/25/2050 9,704,664 10,054,972 10,104,782 FNMA GTD REMIC P/T 20‐46 PC 0.015000 7/25/2050 4,973,547 4,971,999 5,031,321 FNMA GTD REMIC P/T 20‐47 BD 0.015000 7/25/2050 9,813,573 9,792,202 9,897,524 FNMA GTD REMIC P/T 20‐49 PB 0.017500 7/25/2050 9,937,856 10,231,892 10,207,812 GNMA GTD REMIC P/T 20‐97 HB 0.010000 7/20/2050 14,972,599 14,868,748 15,005,634 Total U.S. GOVERNMENT AGENCY MORTGAGE BACKED SECURITIES $ 116,366,043 $ 118,081,302 $ 119,003,890

U.S. TAXABLE MUNICIPAL OBLIGATIONS AUSTIN TX ELEC UTILITY SYS REV 0.024250 11/15/2020 3,000,000 3,000,148 3,012,570 GRANT CNTY WA PUBLIC UTIL DIST 0.015150 1/1/2022 9,825,000 9,915,161 9,963,041 Total U.S. TAXABLE MUNICIPAL OBLIGATIONS $ 12,825,000 $ 12,915,309 $ 12,975,611

U.S. TREASURY SECURITIES U S TREASURY NOTE 0.016250 8/31/2022 30,000,000 30,850,077 30,891,797 U S TREASURY NOTE 0.017500 6/15/2022 70,000,000 71,925,713 72,001,563 U S TREASURY NOTE 0.020000 11/15/2021 75,000,000 76,635,689 76,661,133 U S TREASURY NOTE 0.017500 6/30/2022 80,000,000 82,294,062 82,346,875 U S TREASURY NOTE 0.015000 9/30/2021 70,000,000 70,976,462 71,011,718 U S TREASURY NOTE 0.001250 4/30/2022 95,000,000 94,880,344 94,974,023 U S TREASURY NOTE 0.001250 5/15/2023 125,000,000 124,591,740 124,931,640 U S TREASURY NOTE 0.001250 5/31/2022 100,000,000 99,875,449 99,964,844 Total U.S. TREASURY SECURITIES $ 645,000,000 $ 652,029,536 $ 652,783,593

TOTAL Liquid(SBOE) SHORT TERM FIXED INCOME $ 1,353,953,624 $ 1,369,685,866 $ 1,376,751,714

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