PACIFIC SELECT FUND

CORE INCOME PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Principal Amount		Value
CORPORATE BONDS & NOTES - 50.1%
Basic Materials - 1.5%
Anglo American Capital PLC (South Africa) 2.625% due 09/10/30 ~		$7,100,000		$5,911,481
Braskem Netherlands Finance BV (Brazil) 7.250% due 02/13/33 ~		600,000		577,050
Glencore Funding LLC (Australia) 2.625% due 09/23/31 ~		2,550,000		2,094,697
South32 Treasury Ltd. (Australia) 4.350% due 04/14/32 ~		4,100,000		3,659,574
				12,242,802
Communications - 3.1%
AT&T, Inc.
3.500% due 09/15/53		2,953,000		2,147,712
3.850% due 06/01/60		2,900,000		2,177,140
Charter Communications Operating LLC/Charter Communications Operating Capital
3.500% due 06/01/41		2,600,000		1,786,477
3.850% due 04/01/61		5,200,000		3,248,742
Cox Communications, Inc. 1.800% due 10/01/30 ~		2,000,000		1,585,317
Rogers Communications, Inc. (Canada) 4.550% due 03/15/52 ~		2,700,000		2,223,220
T-Mobile USA, Inc.
2.250% due 02/15/26		2,000,000		1,861,922
2.250% due 11/15/31		1,000,000		819,364
3.375% due 04/15/29		600,000		547,553
5.050% due 07/15/33		3,900,000		3,921,203
Verizon Communications, Inc.
1.680% due 10/30/30		1,200,000		969,205
3.400% due 03/22/41		5,800,000		4,616,957
				25,904,812
Consumer, Cyclical - 5.1%
American Airlines Pass-Through Trust Class A 2.875% due 01/11/36		948,859		783,494
American Airlines Pass-Through Trust Class AA 3.600% due 03/22/29		2,606,764		2,392,774
American Airlines Pass-Through Trust Class B 3.950% due 01/11/32		620,750		546,277
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.750% due 04/20/29 ~		2,000,000		1,920,602
British Airways Pass-Through Trust Class A (United Kingdom)
3.350% due 12/15/30 ~		979,614		846,190
4.625% due 12/20/25 ~		490,223		484,673
British Airways Pass-Through Trust Class AA (United Kingdom) 3.300% due 06/15/34 ~		2,544,537		2,203,432
Continental Airlines Pass-Through Trust Class A 4.000% due 04/29/26		1,104,034		1,067,722
Delta Air Lines Pass-Through Trust Class AA 3.625% due 01/30/29		269,350		248,799
Delta Air Lines, Inc./SkyMiles IP Ltd.
4.500% due 10/20/25 ~		3,333,322		3,279,450
4.750% due 10/20/28 ~		2,000,000		1,931,696
Ferguson Finance PLC 4.250% due 04/20/27 ~		1,150,000		1,107,140
Ford Motor Credit Co. LLC
2.300% due 02/10/25		2,325,000		2,158,112
3.375% due 11/13/25		1,050,000		985,546

	Principal Amount		Value
4.542% due 08/01/26		$ 1,550,000		$ 1,471,679
Genting New York LLC/GENNY Capital, Inc. 3.300% due 02/15/26 ~		1,900,000		1,710,362
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc 4.875% due 07/01/31 ~		3,450,000		2,949,439
Kohl’s Corp. 3.625% due 05/01/31		1,750,000		1,182,755
Lowe’s Cos., Inc. 4.450% due 04/01/62		1,500,000		1,226,187
Marriott International, Inc.
2.750% due 10/15/33		2,500,000		2,025,786
5.000% due 10/15/27		1,350,000		1,353,817
Meritage Homes Corp. 3.875% due 04/15/29 ~		3,375,000		3,000,324
New Red Finance, Inc. (Canada) 3.875% due 01/15/28 ~		2,000,000		1,861,940
Six Flags Entertainment Corp. 4.875% due 07/31/24 ~		1,500,000		1,478,914
United Airlines Pass-Through Trust Class A 2.900% due 11/01/29		351,553		300,421
United Airlines Pass-Through Trust Class AA 4.150% due 02/25/33		562,562		506,609
US Airways Pass-Through Trust Class A 4.625% due 12/03/26		858,725		812,286
Warnermedia Holdings, Inc. 5.050% due 03/15/42 ~		2,750,000		2,302,680
				42,139,106
Consumer, Non-Cyclical - 7.0%
AmerisourceBergen Corp. 2.700% due 03/15/31		5,500,000		4,719,848
Amgen, Inc. 5.650% due 03/02/53		1,650,000		1,718,833
Anheuser-Busch InBev Finance, Inc. (Belgium) 4.000% due 01/17/43		6,500,000		5,717,587
Anheuser-Busch InBev Worldwide, Inc. (Belgium) 5.450% due 01/23/39		2,500,000		2,627,918
BAT Capital Corp. (United Kingdom) 5.650% due 03/16/52		1,050,000		923,496
Block, Inc. 2.750% due 06/01/26		2,000,000		1,825,980
Centene Corp. 2.450% due 07/15/28		1,750,000		1,524,075
Cigna Group 5.400% due 03/15/33		4,250,000		4,415,643
Elevance Health, Inc. 5.500% due 10/15/32		1,100,000		1,157,889
General Mills, Inc. 4.950% due 03/29/33		1,450,000		1,473,255
Global Payments, Inc. 5.300% due 08/15/29		2,150,000		2,125,352
Humana, Inc. 5.500% due 03/15/53		2,600,000		2,649,881
Imperial Brands Finance PLC (United Kingdom) 6.125% due 07/27/27 ~		650,000		667,560
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. 3.000% due 05/15/32 ~		3,000,000		2,353,020
Kenvue, Inc. 5.050% due 03/22/53 ~		1,650,000		1,701,902
Keurig Dr Pepper, Inc. 4.500% due 04/15/52		3,250,000		2,896,723
Kraft Heinz Foods Co. 4.375% due 06/01/46		3,700,000		3,226,716

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

1

PACIFIC SELECT FUND

CORE INCOME PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
UnitedHealth Group, Inc.
4.750% due 05/15/52		$ 3,000,000		$ 2,924,243
5.050% due 04/15/53		6,000,000		6,072,817
Universal Health Services, Inc.
2.650% due 10/15/30		2,000,000		1,605,099
2.650% due 01/15/32		3,550,000		2,772,688
Viatris, Inc. 3.850% due 06/22/40		4,750,000		3,338,088
				58,438,613
Energy - 3.8%
Cheniere Energy Partners LP 4.500% due 10/01/29		3,000,000		2,789,837
Enbridge, Inc. (Canada) 7.375% due 01/15/83		2,450,000		2,348,399
Energy Transfer LP
4.750% due 01/15/26		3,600,000		3,557,666
5.000% due 05/15/44		3,050,000		2,608,204
5.750% due 02/15/33		3,700,000		3,793,425
6.500% due 11/15/26		1,000,000		882,500
Enterprise Products Operating LLC 3.300% due 02/15/53		2,900,000		2,103,226
MPLX LP
4.950% due 03/14/52		1,000,000		870,996
5.200% due 12/01/47		1,600,000		1,424,380
5.650% due 03/01/53		4,150,000		3,999,760
Petroleos Mexicanos (Mexico) 6.350% due 02/12/48		1,400,000		862,050
Sabine Pass Liquefaction LLC 5.900% due 09/15/37 ~		2,700,000		2,764,136
Targa Resources Partners LP/Targa Resources Partners Finance Corp. 4.000% due 01/15/32		4,350,000		3,796,049
				31,800,628
Financial - 16.7%
ABN AMRO Bank NV (Netherlands) 3.324% due 03/13/37 ~		1,000,000		768,248
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland) 3.300% due 01/30/32		2,000,000		1,658,384
Air Lease Corp.
3.000% due 02/01/30		2,500,000		2,141,266
4.650% due 06/15/26		2,700,000		2,249,002
Ally Financial, Inc. 6.700% due 02/14/33		950,000		845,182
Aon Corp./Aon Global Holdings PLC 5.350% due 02/28/33		3,250,000		3,369,928
Assured Guaranty US Holdings, Inc. 3.600% due 09/15/51		2,150,000		1,495,384
Avolon Holdings Funding Ltd. (Ireland) 2.750% due 02/21/28 ~		2,400,000		2,005,209
Bank of America Corp.
2.482% due 09/21/36		2,500,000		1,900,346
2.687% due 04/22/32		2,000,000		1,670,290
2.972% due 02/04/33		2,000,000		1,685,522
4.375% due 01/27/27		1,500,000		1,278,957
5.015% due 07/22/33		3,000,000		2,969,301
6.125% due 04/27/27		2,950,000		2,909,438
BNP Paribas SA (France) 4.625% due 02/25/31 ~		1,200,000		899,832
Broadstone Net Lease LLC REIT 2.600% due 09/15/31		1,000,000		725,872
Citigroup, Inc.
4.150% due 11/15/26		1,750,000		1,435,000
4.600% due 03/09/26		3,000,000		2,940,706
4.658% due 05/24/28		2,000,000		1,977,127
6.270% due 11/17/33		2,000,000		2,164,718
Fidelity National Financial, Inc. 3.200% due 09/17/51		2,000,000		1,255,346
GLP Capital LP/GLP Financing II, Inc. REIT 3.250% due 01/15/32		2,600,000		2,111,876

	Principal Amount		Value
Goldman Sachs Group, Inc.
2.615% due 04/22/32		$ 4,000,000		$ 3,334,459
3.102% due 02/24/33		5,200,000		4,469,580
4.482% due 08/23/28		4,000,000		3,915,458
Hill City Funding Trust 4.046% due 08/15/41 ~		1,200,000		843,087
Host Hotels & Resorts LP REIT 2.900% due 12/15/31		3,700,000		2,891,855
HSBC Holdings PLC (United Kingdom) 4.700% due 03/09/31		1,450,000		1,081,756
JPMorgan Chase & Co.
2.963% due 01/25/33		8,450,000		7,232,143
4.851% due 07/25/28		4,000,000		3,996,188
4.912% due 07/25/33		5,150,000		5,123,378
5.717% due 09/14/33		5,850,000		5,997,353
Liberty Mutual Group, Inc. 4.300% due 02/01/61 ~		2,650,000		1,578,571
LSEGA Financing PLC (United Kingdom) 3.200% due 04/06/41 ~		1,800,000		1,376,253
Massachusetts Mutual Life Insurance Co. 5.672% due 12/01/52 ~		4,050,000		4,141,375
Metropolitan Life Global Funding I 5.150% due 03/28/33 ~		900,000		908,151
Morgan Stanley
2.475% due 01/21/28		2,200,000		2,011,551
2.484% due 09/16/36		9,100,000		6,919,170
2.943% due 01/21/33		3,000,000		2,543,856
5.123% due 02/01/29		2,000,000		2,017,447
6.342% due 10/18/33		2,000,000		2,186,134
New York Life Global Funding 4.700% due 04/02/26 ~		1,500,000		1,502,194
Northwestern Mutual Life Insurance Co. 3.625% due 09/30/59 ~		3,500,000		2,581,443
OneMain Finance Corp.
5.375% due 11/15/29		1,750,000		1,474,025
6.125% due 03/15/24		2,100,000		2,047,689
Piedmont Operating Partnership LP REIT 4.450% due 03/15/24		2,000,000		1,891,392
PNC Financial Services Group, Inc. 6.250% due 03/15/30		1,200,000		1,119,000
Principal Financial Group, Inc. 5.375% due 03/15/33		2,550,000		2,554,147
Prudential Financial, Inc. 6.750% due 03/01/53		3,600,000		3,508,272
Sun Communities Operating LP 5.700% due 01/15/33		2,850,000		2,855,470
Teachers Insurance & Annuity Association of America 4.270% due 05/15/47 ~		2,000,000		1,690,076
U.S. Bancorp 4.839% due 02/01/34		3,000,000		2,912,714
UBS Group AG (Switzerland) 4.875% due 02/12/27 ~		1,000,000		781,370
VICI Properties LP/VICI Note Co., Inc. REIT
3.750% due 02/15/27 ~		1,500,000		1,386,098
4.625% due 12/01/29 ~		7,750,000		7,062,068
Wells Fargo & Co.
4.400% due 06/14/46		2,200,000		1,819,120
4.897% due 07/25/33		1,000,000		976,708
				139,186,485
Industrial - 3.5%
Allegion US Holding Co., Inc. 3.550% due 10/01/27		4,289,000		4,009,532
Amcor Flexibles North America, Inc. 2.690% due 05/25/31		2,000,000		1,665,389
Berry Global, Inc. 4.875% due 07/15/26 ~		2,000,000		1,951,420
Flowserve Corp. 2.800% due 01/15/32		5,300,000		4,209,355

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

2

PACIFIC SELECT FUND

CORE INCOME PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Masco Corp. 7.750% due 08/01/29		$ 950,000		$ 1,064,946
nVent Finance SARL (United Kingdom) 2.750% due 11/15/31		4,100,000		3,330,173
Raytheon Technologies Corp.
5.150% due 02/27/33		2,500,000		2,603,199
5.375% due 02/27/53		1,350,000		1,422,877
Republic Services, Inc. 5.000% due 04/01/34		1,700,000		1,733,105
TransDigm, Inc. 6.250% due 03/15/26 ~		4,271,000		4,279,222
Weir Group PLC (United Kingdom) 2.200% due 05/13/26 ~		3,650,000		3,290,660
				29,559,878
Technology - 3.2%
Broadcom, Inc. 3.137% due 11/15/35 ~		5,500,000		4,234,106
Fiserv, Inc. 5.600% due 03/02/33		4,050,000		4,202,597
Intel Corp. 5.700% due 02/10/53		2,500,000		2,554,340
Kyndryl Holdings, Inc.
2.050% due 10/15/26		2,500,000		2,174,090
3.150% due 10/15/31		3,000,000		2,296,336
NXP BV/NXP Funding LLC/NXP USA, Inc. (China) 3.875% due 06/18/26		5,000,000		4,831,482
Oracle Corp.
2.875% due 03/25/31		2,000,000		1,712,424
3.950% due 03/25/51		4,500,000		3,392,830
6.150% due 11/09/29		850,000		905,760
Skyworks Solutions, Inc. 3.000% due 06/01/31		600,000		499,626
				26,803,591
Utilities - 6.2%
American Electric Power Co., Inc. 5.625% due 03/01/33		1,750,000		1,811,687
Appalachian Power Co. 4.500% due 08/01/32		1,650,000		1,585,169
Arizona Public Service Co. 6.350% due 12/15/32		3,200,000		3,479,644
Brooklyn Union Gas Co. 4.632% due 08/05/27 ~		2,175,000		2,113,302
Dominion Energy, Inc. 4.350% due 01/15/27		1,550,000		1,289,990
DPL, Inc.
4.125% due 07/01/25		1,500,000		1,434,563
4.350% due 04/15/29		1,125,000		999,945
Duke Energy Ohio, Inc. 5.650% due 04/01/53		1,000,000		1,049,984
Duke Energy Progress LLC 5.250% due 03/15/33		1,900,000		1,976,121
Duke Energy Progress NC Storm Funding LLC 2.387% due 07/01/39		2,650,000		2,195,758
Edison International 8.125% due 06/15/53		5,000,000		5,075,000
Eversource Energy 5.450% due 03/01/28		1,000,000		1,037,006
FirstEnergy Corp. 4.150% due 07/15/27		2,500,000		2,384,213
IPALCO Enterprises, Inc. 4.250% due 05/01/30		3,000,000		2,764,045
Kentucky Utilities Co. 5.450% due 04/15/33		1,750,000		1,821,102
KeySpan Gas East Corp. 3.586% due 01/18/52 ~		1,500,000		1,088,174
Louisville Gas & Electric Co. 5.450% due 04/15/33		2,200,000		2,287,764

	Principal Amount		Value
Nevada Power Co. 5.900% due 05/01/53		$ 2,650,000		$ 2,946,197
NextEra Energy Operating Partners LP 4.250% due 07/15/24 ~		3,350,000		3,311,039
NSTAR Electric Co.
4.550% due 06/01/52		2,050,000		1,913,866
4.950% due 09/15/52		1,650,000		1,629,898
PG&E Energy Recovery Funding LLC 2.280% due 01/15/38		1,200,000		957,675
PG&E Wildfire Recovery Funding LLC 3.594% due 06/01/32		938,169		896,580
Piedmont Natural Gas Co., Inc. 5.050% due 05/15/52		1,000,000		930,480
Sempra Energy 4.125% (UST + 2.868%) due 04/01/52		2,350,000		1,900,022
Southwestern Electric Power Co. 3.250% due 11/01/51		1,900,000		1,325,772
Texas Electric Market Stabilization Funding N LLC 4.265% due 08/01/36 ~		1,024,087		992,904
Virginia Electric & Power Co. 5.000% due 04/01/33		350,000		352,871
				51,550,771
Total Corporate Bonds & Notes (Cost $448,239,479)				417,626,686
SENIOR LOAN NOTES - 11.0%
Consumer, Cyclical - 2.8%
Carnival Corp.
Term B 7.840% (USD LIBOR + 3.000%) due 06/30/25 §		997,436		986,464
8.090% (USD LIBOR + 3.250%) due 10/18/28 §		370,313		362,675
ClubCorp Holdings, Inc. Term B 7.590% (USD LIBOR + 2.750%) due 09/18/24 §		3,385,831		3,245,109
Marriott Ownership Resorts, Inc. Term B 6.590% (USD LIBOR + 1.750%) due 08/29/25 §		3,231,949		3,213,770
Mileage Plus Holdings LLC Term B 10.213% (USD LIBOR + 5.250%) due 06/21/27 §		1,850,000		1,923,872
SeaWorld Parks & Entertainment, Inc. Term B 7.875% (USD LIBOR + 3.000%) due 08/25/28 §		6,932,405		6,915,074
Stars Group Holdings BV Term B (Canada) 7.409% (USD LIBOR + 2.250%) due 07/21/26 §		3,512,840		3,515,036
United Airlines, Inc. Term B 8.568% (USD LIBOR + 3.750%) due 04/21/28 §		3,121,415		3,109,061
				23,271,061
Consumer, Non-Cyclical - 3.1%
Allied Universal Holdco LLC Term B 8.657% (SOFR + 3.750%) due 05/12/28 §		1,231,250		1,170,457
CoreLogic, Inc. Term B 8.375% (USD LIBOR + 3.500%) due 06/02/28 §		2,708,750		2,317,674
Heartland Dental LLC Term B 8.840% (USD LIBOR + 4.000%) due 04/30/25 §		1,228,125		1,161,601
Mavis Tire Express Services Corp. Term B 8.922% (SOFR + 4.000%) due 05/04/28 §		4,349,962		4,275,877

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

3

PACIFIC SELECT FUND

CORE INCOME PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Medline Borrower LP Term B 8.090% (USD LIBOR + 3.250%) due 10/23/28 §		$ 1,739,981		$ 1,698,537
Pathway Vet Alliance LLC Term B 8.590% (USD LIBOR + 3.750%) due 03/31/27 §		6,400,325		5,638,002
PetVet Care Centers LLC Term B3 8.340% (USD LIBOR + 3.500%) due 02/14/25 §		4,519,250		4,392,146
Sunshine Luxembourg VII SARL Term B3 (Luxembourg) 8.909% (USD LIBOR + 3.750%) due 10/01/26 §		2,708,933		2,686,438
Verscend Holding Corp. Term B 8.840% (USD LIBOR + 4.000%) due 08/27/25 §		2,493,655		2,494,590
				25,835,322
Financial - 2.0%
AssuredPartners, Inc. Term B 8.340% (USD LIBOR + 3.500%) due 02/12/27 §		2,705,509		2,683,246
HUB International Ltd. Term B 7.818% (USD LIBOR + 3.000%) due 04/25/25 §		5,377,667		5,368,804
NFP Corp. Term B 8.090% (USD LIBOR + 3.250%) due 02/15/27 §		1,515,782		1,481,992
USI, Inc. Term B 8.648% (SOFR + 3.750%) due 11/22/29 §		7,778,746		7,769,022
				17,303,064
Industrial - 1.4%
Filtration Group Corp. Term B 7.840% (USD LIBOR + 3.000%) due 03/29/25 §		6,288,834		6,280,973
Proampac PG Borrower LLC Term B 7.829% (USD LIBOR + 3.750%) due 11/03/25 §		2,467,581		2,424,398
TransDigm, Inc. Term I 7.825% (SOFR + 3.250%) due 08/24/28 §		2,767,022		2,763,372
				11,468,743
Technology - 1.7%
CDK Global, Inc. Term B 9.148% (SOFR + 4.250%) due 07/06/29 §		997,500		996,342
Epicor Software Corp. Term C 8.090% (USD LIBOR + 3.250%) due 07/30/27 §		5,440,709		5,357,967
Sophia LP Term B 8.659% (USD LIBOR + 3.500%) due 10/07/27 §		1,706,003		1,685,105
Ultimate Software Group, Inc. 8.271% (USD LIBOR + 3.250%) due 05/04/26 §		6,174,666		6,024,708
				14,064,122
Total Senior Loan Notes (Cost $92,644,650)				91,942,312
MORTGAGE-BACKED SECURITIES - 1.0%
Fannie Mae - 1.0%
due 04/17/38 #		4,500,000		4,572,846

	Principal Amount		Value
due 04/01/53 #		$ 3,500,000		$ 3,609,102
				8,181,948
Total Mortgage-Backed Securities (Cost $8,118,086)				8,181,948
ASSET-BACKED SECURITIES - 14.8%
AIMCO CLO 11 Ltd. (Cayman) 5.922% (USD LIBOR + 1.130%) due 10/17/34 § ~		1,500,000		1,460,502
Ally Auto Receivables Trust 5.070% due 04/15/27		3,000,000		3,012,314
AmeriCredit Automobile Receivables Trust
0.760% due 12/18/25		2,400,000		2,312,448
0.890% due 10/19/26		1,050,000		979,267
1.410% due 08/18/27		1,500,000		1,363,413
Buttermilk Park CLO Ltd. (Cayman) 5.892% (USD LIBOR + 1.100%) due 10/15/31 § ~		1,200,000		1,182,424
Carlyle Global Market Strategies CLO Ltd. 6.549% (USD LIBOR+1.680%) due 08/14/30 ~		2,000,000		1,970,250
CIFC Funding Ltd. (Cayman)
5.668% (USD LIBOR + 0.870%) due 04/19/29 § ~		2,312,296		2,278,581
5.895% (USD LIBOR + 1.100%) due 07/18/31 § ~		3,630,000		3,584,625
Dryden 55 CLO Ltd. (Cayman) 6.692% (USD LIBOR + 1.900%) due 04/15/31 § ~		1,000,000		943,108
Dryden 58 CLO Ltd. (Cayman)
6.292% (USD LIBOR + 1.500%) due 07/17/31 § ~		1,000,000		963,950
6.592% (USD LIBOR + 1.800%) due 07/17/31 § ~		1,000,000		943,019
Dryden 61 CLO Ltd. (Cayman) 5.782% (USD LIBOR + 0.990%) due 01/17/32 § ~		2,250,000		2,212,042
Dryden 64 CLO Ltd. (Cayman) 6.195% (USD LIBOR + 1.400%) due 04/18/31 § ~		800,000		770,918
Ford Credit Auto Owner Trust
0.790% due 11/15/25		2,420,000		2,337,637
1.290% due 06/15/26		500,000		478,995
2.040% due 12/15/26		500,000		482,352
3.190% due 07/15/31 ~		3,000,000		2,912,015
3.880% due 11/15/34 ~		2,650,000		2,569,356
5.140% due 03/15/26		2,550,000		2,550,798
5.270% due 05/17/27		2,000,000		2,023,738
Hilton Grand Vacations Trust 3.610% due 06/20/34 ~		247,316		236,418
Honda Auto Receivables Owner Trust 0.600% due 12/20/27		1,580,000		1,463,843
Madison Park Funding XXVIII Ltd. (Cayman) 6.392% (USD LIBOR + 1.600%) due 07/15/30 § ~		1,400,000		1,360,205
Magnetite XII Ltd. (Cayman) 5.892% (USD LIBOR + 1.100%) due 10/15/31 § ~		4,775,000		4,720,443
Magnetite XIV-R Ltd. (Cayman) 5.915% (USD LIBOR + 1.120%) due 10/18/31 § ~		2,500,000		2,467,964
Magnetite XIX Ltd. (Cayman) 5.842% (USD LIBOR+1.050%) due 04/17/34 ~		4,500,000		4,377,809
Magnetite XXI Ltd. (Cayman) 5.828% (USD LIBOR + 1.020%) due 04/20/34 § ~		5,000,000		4,859,061

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

4

PACIFIC SELECT FUND

CORE INCOME PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Magnetite XXII Ltd. (Cayman) 6.392% (USD LIBOR+1.160%) due 04/15/31		$ 1,500,000		$ 1,460,625
Magnetite XXIX Ltd. (Cayman) 5.782% (USD LIBOR + 0.990%) due 01/15/34 § ~		1,300,000		1,278,918
Mercedes-Benz Auto Receivables Trust 5.260% due 10/15/25		500,000		499,733
MVW LLC 1.740% due 10/20/37 ~		141,109		129,564
Navient Private Education Refi Loan Trust
0.840% due 05/15/69 ~		307,341		268,991
0.940% due 07/15/69 ~		4,495,966		3,930,267
1.220% due 07/15/69 ~		690,204		617,347
1.310% due 01/15/69 ~		507,034		465,511
1.690% due 05/15/69 ~		2,336,505		2,104,923
2.460% due 11/15/68 ~		359,456		335,783
2.640% due 05/15/68 ~		411,789		388,608
Navient Student Loan Trust
1.310% due 12/26/69 ~		1,193,927		1,017,845
1.320% due 08/26/69 ~		968,898		825,179
3.390% due 12/15/59 ~		1,719,354		1,640,231
5.445% (USD LIBOR + 0.600%) due 12/26/69 § ~		717,073		689,595
5.895% (USD LIBOR + 1.050%) due 06/25/69 § ~		703,675		695,650
Neuberger Berman Loan Advisers CLO 25 Ltd. (Cayman) 6.145% (USD LIBOR + 1.350%) due 10/18/29 § ~		1,500,000		1,449,885
Neuberger Berman Loan Advisers CLO 31 Ltd. (Cayman) 5.848% (USD LIBOR + 1.040%) due 04/20/31 § ~		1,000,000		987,370
OneMain Financial Issuance Trust 4.130% due 05/14/35 ~		1,350,000		1,305,811
Palmer Square CLO Ltd. (Cayman)
5.892% (USD LIBOR + 1.100%) due 07/16/31 § ~		1,000,000		990,480
5.944% (USD LIBOR + 1.080%) due 11/15/31 § ~		4,000,000		3,951,242
Palmer Square Loan Funding Ltd. (Cayman)
5.608% (USD LIBOR + 0.800%) due 07/20/29 § ~		2,145,813		2,119,528
5.708% (USD LIBOR + 0.900%) due 04/20/29 § ~		1,337,798		1,331,134
6.165% (USD LIBOR + 1.250%) due 05/20/29 § ~		4,000,000		3,915,497
6.192% (USD LIBOR + 1.400%) due 10/15/29 § ~		4,800,000		4,706,408
6.208% (USD LIBOR + 1.400%) due 07/20/29 § ~		2,500,000		2,453,224
6.575% (USD LIBOR + 1.900%) due 02/20/28 § ~		600,000		582,172
Santander Drive Auto Receivables Trust
0.750% due 02/17/26		1,032,525		1,018,413
4.420% due 11/15/27		1,700,000		1,674,915
SLM Student Loan Trust 5.368% (USD LIBOR + 0.550%) due 10/25/64 § ~		530,224		518,145
SMB Private Education Loan Trust
1.070% due 01/15/53 ~		1,669,724		1,439,013
1.290% due 07/15/53 ~		712,633		638,860
1.680% due 02/15/51 ~		1,010,773		919,472
2.230% due 09/15/37 ~		2,266,995		2,095,130
2.340% due 09/15/34 ~		201,244		193,702
2.700% due 05/15/31 ~		239,204		232,697
2.820% due 10/15/35 ~		717,020		685,876
2.880% due 09/15/34 ~		1,524,842		1,459,151
3.440% due 07/15/36 ~		934,214		893,237
3.500% due 02/15/36 ~		561,018		533,849
3.600% due 01/15/37 ~		626,060		604,152

	Principal Amount		Value
3.630% due 11/15/35 ~		$ 505,570		$ 484,224
4.480% due 05/16/50 ~		1,372,967		1,331,190
5.414% (USD LIBOR + 0.730%) due 01/15/53 § ~		4,061,425		3,915,072
SoFi Professional Loan Program Trust 2.540% due 05/15/46 ~		708,494		661,132
Stratus CLO Ltd. (Cayman) 6.208% (USD LIBOR + 1.400%) due 12/29/29 § ~		4,000,000		3,899,016
Tiaa CLO III Ltd. (Cayman) 5.942% (USD LIBOR + 1.150%) due 01/16/31 § ~		1,834,000		1,812,939
Toyota Auto Receivables Owner Trust 0.430% due 01/15/26		1,125,000		1,077,889
Total Asset-Backed Securities (Cost $126,331,288)				123,047,090
U.S. TREASURY OBLIGATIONS - 18.2%
U.S. Treasury Bonds - 9.9%
1.125% due 05/15/40		6,000,000		3,997,735
1.250% due 05/15/50		3,750,000		2,182,324
1.375% due 08/15/50		2,750,000		1,653,115
1.750% due 08/15/41		5,500,000		3,986,641
1.875% due 11/15/51		3,350,000		2,282,646
2.000% due 02/15/50		1,750,000		1,241,406
2.000% due 08/15/51		2,500,000		1,759,619
2.250% due 08/15/46		1,950,000		1,473,164
2.250% due 02/15/52		7,500,000		5,596,582
2.500% due 02/15/46		6,500,000		5,168,008
2.750% due 11/15/47		3,500,000		2,914,365
2.875% due 05/15/52		3,250,000		2,781,607
3.000% due 08/15/52		10,000,000		8,787,500
3.625% due 02/15/53		23,000,000		22,840,078
3.875% due 02/15/43		15,000,000		15,137,109
4.000% due 11/15/42		500,000		513,750
				82,315,649
U.S. Treasury Notes - 8.3%
0.625% due 05/15/30		8,500,000		6,961,035
1.125% due 02/15/31		1,000,000		842,403
1.875% due 02/28/29		21,000,000		19,084,160
2.125% due 03/31/24		2,000,000		1,951,969
2.750% due 08/15/32		9,000,000		8,471,953
3.500% due 02/15/33		15,000,000		15,024,609
4.000% due 02/29/28		17,000,000		17,308,789
				69,644,918
Total U.S. Treasury Obligations (Cost $162,460,672)				151,960,567
SHORT-TERM INVESTMENT - 9.6%
Repurchase Agreement - 9.6%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $80,103,866; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $81,675,698)		80,074,172		80,074,172
Total Short-Term Investment (Cost $80,074,172)				80,074,172
TOTAL INVESTMENTS - 104.7% (Cost $917,868,347)				872,832,775
OTHER ASSETS & LIABILITIES, NET - (4.7%)				(38,789,557	)
NET ASSETS - 100.0%				$834,043,218

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

5

PACIFIC SELECT FUND

CORE INCOME PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Corporate Bonds & Notes		$417,626,686		$-		$417,626,686		$-
	Senior Loan Notes		91,942,312		-		91,942,312		-
	Mortgage-Backed Securities		8,181,948		-		8,181,948		-
	Asset-Backed Securities		123,047,090		-		123,047,090		-
	U.S. Treasury Obligations		151,960,567		-		151,960,567		-
	Short-Term Investment		80,074,172		-		80,074,172		-
	Total		$872,832,775		$-		$872,832,775		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

6

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Principal Amount		Value
CORPORATE BONDS & NOTES - 39.7%
Basic Materials - 1.4%
Anglo American Capital PLC (South Africa)
3.625% due 09/11/24 ~		$500,000		$488,240
4.000% due 09/11/27 ~		1,080,000		1,027,172
4.750% due 04/10/27 ~		750,000		734,824
ArcelorMittal SA (Luxembourg) 7.000% due 10/15/39		630,000		663,152
Barrick North America Finance LLC (Canada)
5.700% due 05/30/41		823,000		865,190
5.750% due 05/01/43		550,000		580,140
BHP Billiton Finance USA Ltd. (Australia) 5.000% due 09/30/43		720,000		730,045
Equate Petrochemical BV (Kuwait) 4.250% due 11/03/26 ~		1,260,000		1,225,288
Freeport-McMoRan, Inc.
4.550% due 11/14/24		120,000		119,447
4.625% due 08/01/30		500,000		472,864
5.450% due 03/15/43		2,310,000		2,163,351
Glencore Funding LLC (Australia)
4.000% due 03/27/27 ~		1,730,000		1,668,148
4.125% due 05/30/23 ~		130,000		129,538
4.125% due 03/12/24 ~		1,070,000		1,058,846
4.625% due 04/29/24 ~		2,000,000		1,978,393
OCP SA (Morocco)
3.750% due 06/23/31 ~		970,000		797,195
4.500% due 10/22/25 ~		1,170,000		1,137,568
5.125% due 06/23/51 ~		950,000		694,528
Orbia Advance Corp. SAB de CV (Mexico)
1.875% due 05/11/26 ~		2,050,000		1,827,838
2.875% due 05/11/31 ~		2,140,000		1,720,260
Southern Copper Corp. (Mexico) 5.250% due 11/08/42		2,340,000		2,241,949
Suzano Austria GmbH (Brazil)
3.125% due 01/15/32		1,560,000		1,277,667
3.750% due 01/15/31		2,420,000		2,107,874
Teck Resources Ltd. (Canada) 6.000% due 08/15/40		90,000		91,120
Vale Overseas Ltd. (Brazil) 6.875% due 11/21/36		993,000		1,038,917
Yamana Gold, Inc. (Canada) 4.625% due 12/15/27		1,810,000		1,731,475
				28,571,029
Communications - 5.1%
Alphabet, Inc.
1.100% due 08/15/30		690,000		565,139
1.900% due 08/15/40		960,000		673,734
2.050% due 08/15/50		230,000		146,424
Altice France SA (France) 5.500% due 10/15/29 ~		450,000		344,500
Amazon.com, Inc.
0.800% due 06/03/25		720,000		670,180
1.200% due 06/03/27		1,720,000		1,527,611
1.500% due 06/03/30		1,310,000		1,089,643
2.100% due 05/12/31		1,120,000		957,837
2.500% due 06/03/50		690,000		468,270
3.150% due 08/22/27		1,070,000		1,031,339
3.300% due 04/13/27		530,000		513,189
3.450% due 04/13/29		1,130,000		1,087,822
3.600% due 04/13/32		830,000		788,950
3.875% due 08/22/37		800,000		745,176
4.050% due 08/22/47		1,720,000		1,562,664
4.250% due 08/22/57		390,000		355,819
4.950% due 12/05/44		190,000		196,036
AT&T, Inc.
1.650% due 02/01/28		1,430,000		1,256,810

	Principal Amount		Value
2.250% due 02/01/32		$ 250,000		$ 204,488
2.300% due 06/01/27		1,990,000		1,824,278
2.550% due 12/01/33		510,000		410,505
3.500% due 09/15/53		730,000		530,928
3.550% due 09/15/55		2,244,000		1,613,603
3.650% due 09/15/59		550,000		393,724
3.800% due 12/01/57		180,000		133,939
4.350% due 03/01/29		900,000		881,579
4.350% due 06/15/45		744,000		638,224
5.350% due 09/01/40		490,000		486,490
5.550% due 08/15/41		550,000		559,550
Charter Communications Operating LLC/Charter Communications Operating Capital
3.500% due 03/01/42		370,000		250,302
4.200% due 03/15/28		2,020,000		1,913,032
4.400% due 04/01/33		380,000		337,523
4.800% due 03/01/50		230,000		175,533
4.908% due 07/23/25		1,970,000		1,951,135
5.125% due 07/01/49		330,000		261,553
5.375% due 04/01/38		1,590,000		1,387,679
5.375% due 05/01/47		200,000		165,207
5.750% due 04/01/48		240,000		207,363
6.384% due 10/23/35		270,000		269,223
6.484% due 10/23/45		650,000		616,510
6.834% due 10/23/55		370,000		360,020
Comcast Corp.
2.800% due 01/15/51		620,000		419,392
2.937% due 11/01/56		254,000		169,371
3.150% due 03/01/26		490,000		475,416
3.250% due 11/01/39		190,000		154,383
3.300% due 04/01/27		1,510,000		1,452,296
3.400% due 04/01/30		1,000,000		935,465
3.400% due 07/15/46		170,000		132,064
3.450% due 02/01/50		240,000		185,695
3.750% due 04/01/40		260,000		223,540
3.950% due 10/15/25		1,560,000		1,543,121
3.969% due 11/01/47		4,290,000		3,613,354
3.999% due 11/01/49		240,000		201,896
4.000% due 08/15/47		340,000		288,832
4.000% due 03/01/48		270,000		228,922
4.150% due 10/15/28		2,240,000		2,216,964
4.250% due 10/15/30		1,630,000		1,598,000
4.950% due 10/15/58		140,000		135,777
5.650% due 06/15/35		290,000		311,559
6.500% due 11/15/35		307,000		353,477
CSC Holdings LLC
3.375% due 02/15/31 ~		330,000		228,591
4.125% due 12/01/30 ~		5,860,000		4,213,897
4.500% due 11/15/31 ~		3,060,000		2,209,228
DISH DBS Corp.
5.125% due 06/01/29		1,120,000		597,610
5.250% due 12/01/26 ~		690,000		551,841
5.875% due 11/15/24		1,361,000		1,215,101
7.750% due 07/01/26		690,000		456,114
FOX Corp. 5.476% due 01/25/39		1,010,000		968,274
Prosus NV (China)
3.061% due 07/13/31 ~		4,880,000		3,848,509
3.832% due 02/08/51 ~		450,000		289,324
4.027% due 08/03/50 ~		2,450,000		1,613,292
Sprint Capital Corp. 8.750% due 03/15/32		1,420,000		1,730,355
Sprint LLC
7.625% due 02/15/25		910,000		944,458
7.875% due 09/15/23		40,000		40,332
T-Mobile USA, Inc.
2.250% due 02/15/26		410,000		381,694
2.550% due 02/15/31		2,510,000		2,128,523
2.625% due 02/15/29		1,290,000		1,137,794
2.875% due 02/15/31		950,000		820,523
3.000% due 02/15/41		330,000		244,923
3.375% due 04/15/29		480,000		438,042
3.500% due 04/15/25		3,080,000		2,995,556

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

7

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
3.500% due 04/15/31		$ 2,920,000		$ 2,628,507
3.750% due 04/15/27		330,000		317,431
3.875% due 04/15/30		2,600,000		2,441,665
Telefonica Emisiones SA (Spain) 5.520% due 03/01/49		1,050,000		950,884
Tencent Holdings Ltd. (China) 3.840% due 04/22/51 ~		910,000		662,558
Time Warner Cable Enterprises LLC 8.375% due 07/15/33		990,000		1,128,263
Time Warner Cable LLC
5.500% due 09/01/41		250,000		216,255
6.550% due 05/01/37		520,000		513,062
6.750% due 06/15/39		1,310,000		1,291,632
7.300% due 07/01/38		2,580,000		2,679,788
Verizon Communications, Inc.
1.750% due 01/20/31		1,620,000		1,307,386
2.100% due 03/22/28		970,000		864,460
2.355% due 03/15/32		1,522,000		1,249,379
2.550% due 03/21/31		1,050,000		894,938
2.625% due 08/15/26		1,970,000		1,863,391
2.650% due 11/20/40		1,400,000		1,000,737
2.875% due 11/20/50		2,740,000		1,825,218
3.150% due 03/22/30		860,000		783,847
3.850% due 11/01/42		960,000		803,887
4.000% due 03/22/50		610,000		508,592
4.125% due 03/16/27		286,000		283,660
4.125% due 08/15/46		980,000		838,543
4.329% due 09/21/28		715,000		707,147
4.400% due 11/01/34		1,750,000		1,664,325
4.500% due 08/10/33		5,540,000		5,355,864
4.862% due 08/21/46		630,000		600,387
5.500% due 03/16/47		250,000		252,758
				104,881,600
Consumer, Cyclical - 3.8%
Costco Wholesale Corp.
1.375% due 06/20/27		1,480,000		1,327,786
1.600% due 04/20/30		1,160,000		985,398
Delta Air Lines, Inc./SkyMiles IP Ltd.
4.500% due 10/20/25 ~		1,649,990		1,623,323
4.750% due 10/20/28 ~		1,650,000		1,593,649
Ford Motor Co.
4.750% due 01/15/43		300,000		230,466
6.100% due 08/19/32		1,000,000		970,461
Ford Motor Credit Co. LLC
2.900% due 02/16/28		650,000		559,637
3.625% due 06/17/31		1,770,000		1,460,843
3.664% due 09/08/24		270,000		259,456
4.000% due 11/13/30		4,360,000		3,710,827
4.125% due 08/17/27		1,590,000		1,458,992
5.113% due 05/03/29		300,000		282,062
5.125% due 06/16/25		760,000		744,986
7.350% due 11/04/27		1,390,000		1,435,189
7.350% due 03/06/30		480,000		493,680
General Motors Co.
5.150% due 04/01/38		440,000		397,292
5.600% due 10/15/32		590,000		578,265
5.950% due 04/01/49		660,000		613,797
6.125% due 10/01/25		140,000		142,730
6.250% due 10/02/43		570,000		548,716
General Motors Financial Co., Inc.
4.250% due 05/15/23		1,250,000		1,247,803
4.350% due 01/17/27		520,000		504,309
H&E Equipment Services, Inc. 3.875% due 12/15/28 ~		270,000		236,925
Home Depot, Inc.
2.500% due 04/15/27		730,000		685,585
2.700% due 04/15/30		860,000		776,860
3.300% due 04/15/40		480,000		399,539
3.350% due 04/15/50		1,490,000		1,154,969
3.900% due 12/06/28		190,000		187,268

	Principal Amount		Value
3.900% due 06/15/47		$ 210,000		$ 180,830
Las Vegas Sands Corp.
2.900% due 06/25/25		5,000,000		4,754,163
3.200% due 08/08/24		3,400,000		3,291,395
Lennar Corp.
4.500% due 04/30/24		1,040,000		1,027,856
4.750% due 05/30/25		200,000		197,163
Lowe’s Cos., Inc. 4.500% due 04/15/30		500,000		494,336
McDonald’s Corp.
1.450% due 09/01/25		260,000		242,246
3.300% due 07/01/25		580,000		568,314
3.500% due 07/01/27		1,390,000		1,347,137
3.600% due 07/01/30		730,000		692,900
3.625% due 09/01/49		190,000		152,435
3.700% due 01/30/26		1,220,000		1,199,862
3.800% due 04/01/28		740,000		726,677
4.200% due 04/01/50		1,320,000		1,165,672
MDC Holdings, Inc. 6.000% due 01/15/43		90,000		78,327
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. 6.500% due 06/20/27 ~		1,138,988		1,136,442
New Red Finance, Inc. (Canada)
3.500% due 02/15/29 ~		1,540,000		1,380,287
3.875% due 01/15/28 ~		1,550,000		1,443,004
Newell Brands, Inc. 4.700% due 04/01/26		10,000		9,636
NIKE, Inc.
2.750% due 03/27/27		1,060,000		1,005,980
3.250% due 03/27/40		750,000		633,267
3.375% due 03/27/50		970,000		800,603
Nissan Motor Co. Ltd. (Japan)
3.043% due 09/15/23 ~		1,040,000		1,024,631
3.522% due 09/17/25 ~		2,700,000		2,559,584
4.345% due 09/17/27 ~		2,620,000		2,473,185
Sands China Ltd. (Macau)
2.800% due 03/08/27		1,590,000		1,365,387
3.350% due 03/08/29		2,010,000		1,671,282
4.300% due 01/08/26		950,000		892,798
5.625% due 08/08/25		3,980,000		3,882,653
5.900% due 08/08/28		1,010,000		959,623
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. 8.000% due 09/20/25 ~		1,409,999		1,414,828
Target Corp. 2.250% due 04/15/25		990,000		951,594
Toll Brothers Finance Corp. 4.375% due 04/15/23		770,000		769,898
United Airlines, Inc.
4.375% due 04/15/26 ~		90,000		86,209
4.625% due 04/15/29 ~		1,870,000		1,693,886
VOC Escrow Ltd. 5.000% due 02/15/28 ~		1,320,000		1,173,011
Walmart, Inc.
1.500% due 09/22/28		390,000		341,595
1.800% due 09/22/31		450,000		380,877
Warnermedia Holdings, Inc.
3.755% due 03/15/27 ~		570,000		537,267
4.054% due 03/15/29 ~		730,000		679,572
4.279% due 03/15/32 ~		3,740,000		3,341,761
5.141% due 03/15/52 ~		2,400,000		1,947,230
6.412% due 03/15/26		1,060,000		1,065,673
Wynn Macau Ltd. (Macau)
5.125% due 12/15/29 ~		340,000		278,870
5.625% due 08/26/28 ~		2,500,000		2,129,049
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.
5.125% due 10/01/29 ~		150,000		136,424
7.125% due 02/15/31 ~		820,000		832,521
				79,728,753

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

8

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Consumer, Non-Cyclical - 6.2%
Abbott Laboratories
3.750% due 11/30/26		$ 885,000		$ 879,273
4.750% due 11/30/36		1,000,000		1,039,769
4.900% due 11/30/46		760,000		782,567
AbbVie, Inc.
2.600% due 11/21/24		2,660,000		2,568,176
2.950% due 11/21/26		1,110,000		1,056,866
3.200% due 11/21/29		2,700,000		2,506,697
3.600% due 05/14/25		1,600,000		1,570,121
3.750% due 11/14/23		370,000		366,472
3.800% due 03/15/25		2,430,000		2,391,520
4.250% due 11/21/49		1,930,000		1,704,914
Aetna, Inc. 2.800% due 06/15/23		540,000		537,471
Altria Group, Inc.
2.350% due 05/06/25		2,240,000		2,127,876
2.450% due 02/04/32		470,000		370,330
3.400% due 02/04/41		2,610,000		1,848,534
3.875% due 09/16/46		820,000		591,135
4.400% due 02/14/26		1,988,000		1,973,844
5.800% due 02/14/39		250,000		244,449
5.950% due 02/14/49		2,440,000		2,312,095
6.200% due 02/14/59		270,000		264,833
Amgen, Inc.
3.625% due 05/22/24		410,000		404,335
4.663% due 06/15/51		289,000		262,853
Anheuser-Busch Cos., LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium)
3.650% due 02/01/26		410,000		402,673
4.900% due 02/01/46		580,000		567,555
Anheuser-Busch InBev Worldwide, Inc. (Belgium)
3.500% due 06/01/30		1,640,000		1,547,253
4.000% due 04/13/28		1,010,000		999,192
4.350% due 06/01/40		1,540,000		1,431,677
4.750% due 01/23/29		590,000		602,852
5.550% due 01/23/49		1,850,000		1,986,284
BAT Capital Corp. (United Kingdom)
3.557% due 08/15/27		3,890,000		3,618,796
4.540% due 08/15/47		950,000		708,725
Bausch Health Americas, Inc. 9.250% due 04/01/26 ~		750,000		557,186
Bausch Health Cos., Inc.
5.000% due 02/15/29 ~		2,560,000		1,005,555
5.250% due 01/30/30 ~		7,880,000		2,950,075
6.250% due 02/15/29 ~		2,740,000		1,097,069
7.250% due 05/30/29 ~		800,000		307,108
Becton Dickinson & Co.
3.363% due 06/06/24		1,400,000		1,374,666
3.734% due 12/15/24		272,000		266,070
4.685% due 12/15/44		714,000		665,291
Bristol-Myers Squibb Co.
3.200% due 06/15/26		959,000		927,404
3.400% due 07/26/29		473,000		450,188
Centene Corp.
3.375% due 02/15/30		370,000		323,137
4.625% due 12/15/29		380,000		357,633
Cigna Group
3.750% due 07/15/23		2,027,000		2,017,346
4.125% due 11/15/25		1,010,000		994,147
4.375% due 10/15/28		3,500,000		3,450,928
4.900% due 12/15/48		2,350,000		2,213,379
Coca-Cola Co.
1.450% due 06/01/27		700,000		635,901
2.500% due 06/01/40		70,000		53,779
2.600% due 06/01/50		370,000		265,446
3.375% due 03/25/27		1,180,000		1,161,106
CommonSpirit Health 4.350% due 11/01/42		420,000		362,864
Constellation Brands, Inc.
2.250% due 08/01/31		220,000		180,877
3.600% due 05/09/24		620,000		612,163
4.350% due 05/09/27		640,000		631,661

	Principal Amount		Value
CVS Health Corp.
1.875% due 02/28/31		$ 430,000		$ 348,495
2.125% due 09/15/31		910,000		744,472
3.625% due 04/01/27		550,000		530,284
3.750% due 04/01/30		670,000		627,328
3.875% due 07/20/25		1,278,000		1,255,631
4.125% due 04/01/40		580,000		499,361
4.250% due 04/01/50		180,000		150,612
5.050% due 03/25/48		4,440,000		4,157,922
5.125% due 07/20/45		1,440,000		1,367,317
CVS Pass-Through Trust
5.298% due 01/11/27 ~		262,510		260,572
6.036% due 12/10/28		1,633,642		1,668,161
Danone SA (France) 2.589% due 11/02/23 ~		2,730,000		2,688,877
DP World PLC (United Arab Emirates) 5.625% due 09/25/48 ~		2,090,000		2,027,645
Elevance Health, Inc.
3.350% due 12/01/24		560,000		547,005
3.650% due 12/01/27		460,000		444,753
4.100% due 05/15/32		450,000		430,690
4.550% due 05/15/52		720,000		651,050
Gilead Sciences, Inc.
3.650% due 03/01/26		730,000		714,973
4.750% due 03/01/46		920,000		885,403
HCA, Inc.
3.500% due 09/01/30		450,000		401,113
4.500% due 02/15/27		110,000		107,505
5.000% due 03/15/24		1,333,000		1,325,523
5.250% due 06/15/26		180,000		180,267
5.375% due 02/01/25		517,000		517,550
5.375% due 09/01/26		440,000		441,869
5.500% due 06/15/47		450,000		423,107
5.625% due 09/01/28		200,000		202,482
5.875% due 02/01/29		630,000		644,118
Hershey Co. 0.900% due 06/01/25		340,000		314,129
Humana, Inc.
3.950% due 03/15/27		661,000		640,349
4.500% due 04/01/25		300,000		297,523
4.625% due 12/01/42		1,090,000		985,644
4.800% due 03/15/47		130,000		118,878
Johnson & Johnson 3.625% due 03/03/37		2,090,000		1,934,434
Kenvue, Inc. 4.900% due 03/22/33 ~		1,900,000		1,963,815
Kraft Heinz Foods Co.
3.000% due 06/01/26		587,000		561,107
4.250% due 03/01/31		420,000		406,683
4.375% due 06/01/46		560,000		488,368
4.625% due 10/01/39		30,000		27,531
5.000% due 06/04/42		210,000		201,590
5.200% due 07/15/45		990,000		960,804
5.500% due 06/01/50		830,000		841,164
6.750% due 03/15/32		50,000		56,018
6.875% due 01/26/39		140,000		158,793
7.125% due 08/01/39 ~		30,000		34,341
Mars, Inc.
2.700% due 04/01/25 ~		900,000		866,401
3.200% due 04/01/30 ~		590,000		543,791
Merck & Co., Inc. 1.450% due 06/24/30		800,000		661,708
Mondelez International, Inc. 1.500% due 05/04/25		1,540,000		1,442,101
PayPal Holdings, Inc. 1.650% due 06/01/25		630,000		591,666
PepsiCo, Inc.
0.750% due 05/01/23		1,350,000		1,345,537
1.625% due 05/01/30		620,000		524,997
2.250% due 03/19/25		190,000		183,455
2.625% due 03/19/27		190,000		179,688
2.875% due 10/15/49		400,000		304,727

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

9

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Pfizer, Inc.
0.800% due 05/28/25		$ 20,000		$ 18,560
1.700% due 05/28/30		620,000		522,292
2.625% due 04/01/30		780,000		704,497
Philip Morris International, Inc.
1.125% due 05/01/23		980,000		976,994
2.100% due 05/01/30		260,000		216,246
Procter & Gamble Co.
2.800% due 03/25/27		300,000		286,278
3.000% due 03/25/30		650,000		609,982
Reynolds American, Inc. (United Kingdom) 5.850% due 08/15/45		1,090,000		984,295
Service Corp. International 7.500% due 04/01/27		510,000		529,019
Teva Pharmaceutical Finance Co. LLC (Israel) 6.150% due 02/01/36		280,000		254,566
Teva Pharmaceutical Finance Netherlands III BV (Israel)
2.800% due 07/21/23		377,000		372,907
3.150% due 10/01/26		7,115,000		6,446,048
4.100% due 10/01/46		1,800,000		1,201,059
4.750% due 05/09/27		730,000		682,315
5.125% due 05/09/29		5,940,000		5,386,431
7.125% due 01/31/25		1,140,000		1,164,521
8.125% due 09/15/31		540,000		567,513
UnitedHealth Group, Inc.
1.250% due 01/15/26		590,000		541,822
2.000% due 05/15/30		560,000		479,031
2.300% due 05/15/31		320,000		274,369
3.125% due 05/15/60		200,000		140,248
3.500% due 06/15/23		540,000		538,632
3.875% due 08/15/59		570,000		467,233
4.000% due 05/15/29		720,000		704,791
4.200% due 05/15/32		380,000		372,691
4.250% due 06/15/48		420,000		378,655
4.450% due 12/15/48		410,000		380,470
5.700% due 10/15/40		10,000		10,859
5.800% due 03/15/36		860,000		939,694
				127,561,461
Energy - 6.1%
BP Capital Markets America, Inc.
3.000% due 02/24/50		2,570,000		1,822,923
3.119% due 05/04/26		920,000		885,818
3.410% due 02/11/26		1,200,000		1,170,038
3.633% due 04/06/30		540,000		512,738
Cameron LNG LLC
2.902% due 07/15/31 ~		540,000		480,637
3.302% due 01/15/35 ~		1,730,000		1,490,474
Cheniere Energy Partners LP
3.250% due 01/31/32		1,340,000		1,108,301
4.000% due 03/01/31		400,000		356,392
Cheniere Energy, Inc. 4.625% due 10/15/28		1,020,000		970,469
Chevron Corp.
1.554% due 05/11/25		600,000		566,059
1.995% due 05/11/27		720,000		659,831
3.078% due 05/11/50		220,000		166,852
Chevron USA, Inc. 3.850% due 01/15/28		1,110,000		1,096,418
ConocoPhillips 6.500% due 02/01/39		370,000		430,458
Continental Resources, Inc.
2.268% due 11/15/26 ~		560,000		497,852
3.800% due 06/01/24		730,000		715,713
4.375% due 01/15/28		660,000		622,573
4.500% due 04/15/23		1,180,000		1,178,541
4.900% due 06/01/44		290,000		224,876
5.750% due 01/15/31 ~		1,300,000		1,250,106

	Principal Amount		Value
Coterra Energy, Inc.
3.900% due 05/15/27		$ 1,620,000		$ 1,547,260
4.375% due 03/15/29		1,710,000		1,627,569
Devon Energy Corp.
4.750% due 05/15/42		70,000		61,030
5.000% due 06/15/45		2,910,000		2,590,619
5.600% due 07/15/41		1,240,000		1,189,534
8.250% due 08/01/23		3,290,000		3,304,192
Diamondback Energy, Inc. 3.500% due 12/01/29		2,320,000		2,122,621
Ecopetrol SA (Colombia)
4.625% due 11/02/31		850,000		654,745
5.875% due 05/28/45		3,880,000		2,696,600
Energy Transfer LP
2.900% due 05/15/25		1,010,000		963,036
3.750% due 05/15/30		2,010,000		1,856,626
4.950% due 06/15/28		680,000		675,864
5.250% due 04/15/29		410,000		408,826
5.300% due 04/01/44		160,000		141,855
5.400% due 10/01/47		590,000		525,319
6.250% due 04/15/49		1,030,000		1,022,385
6.750% due 05/15/25		1,950,000		1,723,516
7.125% due 05/15/30		890,000		750,715
7.600% due 02/01/24		1,560,000		1,575,205
8.892% (USD LIBOR + 4.028%) due 04/17/23 §		390,000		347,352
Energy Transfer LP/Regency Energy Finance Corp. 4.500% due 11/01/23		520,000		515,589
Enterprise Products Operating LLC
2.800% due 01/31/30		2,460,000		2,183,310
3.700% due 01/31/51		1,180,000		914,993
3.950% due 01/31/60		400,000		314,471
4.150% due 10/16/28		1,040,000		1,011,707
4.200% due 01/31/50		2,100,000		1,783,960
4.800% due 02/01/49		470,000		431,694
4.850% due 03/15/44		420,000		390,315
7.550% due 04/15/38		360,000		422,496
EOG Resources, Inc.
3.900% due 04/01/35		1,460,000		1,340,847
4.150% due 01/15/26		1,040,000		1,030,559
4.375% due 04/15/30		80,000		79,783
4.950% due 04/15/50		890,000		898,153
EQT Corp.
3.125% due 05/15/26 ~		50,000		46,293
3.625% due 05/15/31 ~		900,000		780,964
3.900% due 10/01/27		1,430,000		1,345,508
5.000% due 01/15/29		630,000		598,153
6.125% due 02/01/25		120,000		120,834
Exxon Mobil Corp.
1.571% due 04/15/23		170,000		169,748
2.992% due 03/19/25		1,910,000		1,860,546
3.043% due 03/01/26		750,000		728,376
3.482% due 03/19/30		1,300,000		1,243,532
4.114% due 03/01/46		2,150,000		1,941,627
4.327% due 03/19/50		220,000		203,459
Halliburton Co. 3.800% due 11/15/25		79,000		77,450
KazMunayGas National Co. JSC (Kazakhstan) 6.375% due 10/24/48 ~		1,500,000		1,251,600
Kinder Morgan Energy Partners LP 3.500% due 09/01/23		1,410,000		1,400,544
Kinder Morgan, Inc.
4.300% due 03/01/28		450,000		442,475
5.200% due 03/01/48		60,000		53,813
5.550% due 06/01/45		210,000		198,985
MPLX LP
4.500% due 04/15/38		1,510,000		1,343,540
4.700% due 04/15/48		520,000		437,478
4.800% due 02/15/29		930,000		922,197
4.875% due 12/01/24		1,190,000		1,183,103
5.200% due 03/01/47		70,000		62,815
5.500% due 02/15/49		730,000		680,303

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

10

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Occidental Petroleum Corp.
3.000% due 02/15/27		$ 870,000		$ 797,703
4.100% due 02/15/47		2,510,000		1,916,027
4.200% due 03/15/48		1,200,000		931,842
4.400% due 04/15/46		510,000		404,958
4.625% due 06/15/45		1,280,000		1,027,265
6.450% due 09/15/36		1,610,000		1,694,525
7.875% due 09/15/31		2,702,000		3,037,602
Petrobras Global Finance BV (Brazil)
5.299% due 01/27/25		8,001,000		7,933,040
6.250% due 03/17/24		150,000		150,339
7.250% due 03/17/44		1,270,000		1,229,447
Petroleos Mexicanos (Mexico)
6.375% due 01/23/45		520,000		328,888
6.750% due 09/21/47		160,000		104,130
6.875% due 08/04/26		1,350,000		1,282,898
Pioneer Natural Resources Co.
1.125% due 01/15/26		410,000		372,827
1.900% due 08/15/30		780,000		635,470
2.150% due 01/15/31		1,020,000		838,323
Reliance Industries Ltd. (India)
2.875% due 01/12/32 ~		850,000		707,209
3.625% due 01/12/52 ~		2,500,000		1,770,120
Sabine Pass Liquefaction LLC 5.750% due 05/15/24		730,000		731,930
Schlumberger Holdings Corp. 3.900% due 05/17/28 ~		1,232,000		1,185,508
Shell International Finance BV (Netherlands)
2.750% due 04/06/30		1,070,000		976,474
2.875% due 05/10/26		560,000		536,084
3.250% due 04/06/50		970,000		741,071
4.375% due 05/11/45		1,010,000		933,269
4.550% due 08/12/43		1,200,000		1,136,638
Sinopec Group Overseas Development Ltd. (China) 4.375% due 04/10/24 ~		1,790,000		1,779,511
Southwestern Energy Co.
4.750% due 02/01/32		770,000		681,026
5.375% due 02/01/29		60,000		56,619
5.375% due 03/15/30		250,000		235,330
Targa Resources Corp.
4.950% due 04/15/52		400,000		332,426
5.200% due 07/01/27		210,000		208,392
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.000% due 01/15/32		170,000		148,351
4.875% due 02/01/31		770,000		721,293
5.000% due 01/15/28		450,000		435,541
5.500% due 03/01/30		540,000		528,239
6.500% due 07/15/27		530,000		540,851
6.875% due 01/15/29		270,000		275,450
Tennessee Gas Pipeline Co. LLC 2.900% due 03/01/30 ~		4,600,000		3,989,711
Venture Global Calcasieu Pass LLC 3.875% due 11/01/33 ~		1,150,000		967,317
Western Midstream Operating LP
3.350% due 02/01/25		1,120,000		1,070,614
4.300% due 02/01/30		2,824,000		2,573,370
4.500% due 03/01/28		680,000		643,950
4.650% due 07/01/26		460,000		445,050
5.300% due 03/01/48		130,000		110,351
5.500% due 08/15/48		960,000		828,110
5.500% due 02/01/50		600,000		510,000
Williams Cos., Inc.
3.750% due 06/15/27		330,000		316,871
7.500% due 01/15/31		5,385,000		6,003,227
7.750% due 06/15/31		100,000		112,038
				125,320,383

	Principal Amount		Value
Financial - 13.5%
ABN AMRO Bank NV (Netherlands) 4.750% due 07/28/25 ~		$ 2,220,000		$ 2,144,941
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
2.450% due 10/29/26		920,000		826,853
3.000% due 10/29/28		1,840,000		1,607,701
3.150% due 02/15/24		2,180,000		2,114,553
3.300% due 01/30/32		780,000		646,770
Air Lease Corp.
3.375% due 07/01/25		1,160,000		1,106,082
5.300% due 02/01/28		1,230,000		1,214,923
American Express Co.
3.375% due 05/03/24		1,180,000		1,157,180
4.050% due 05/03/29		1,150,000		1,122,259
American International Group, Inc. 2.500% due 06/30/25		1,887,000		1,786,228
Banco Santander SA (Spain)
2.746% due 05/28/25		400,000		377,560
3.848% due 04/12/23		3,200,000		3,198,641
4.175% due 03/24/28		200,000		187,941
5.926% (USD LIBOR + 1.120%) due 04/12/23 §		1,000,000		1,000,004
Bank of America Corp.
2.572% due 10/20/32		3,040,000		2,486,744
2.592% due 04/29/31		2,550,000		2,160,997
2.972% due 02/04/33		1,920,000		1,618,101
3.419% due 12/20/28		3,934,000		3,658,252
3.974% due 02/07/30		3,230,000		3,022,020
4.000% due 04/01/24		2,280,000		2,255,084
4.083% due 03/20/51		3,820,000		3,145,001
4.125% due 01/22/24		3,295,000		3,269,861
4.200% due 08/26/24		4,930,000		4,846,628
4.250% due 10/22/26		310,000		300,590
4.330% due 03/15/50		1,190,000		1,022,336
4.450% due 03/03/26		660,000		645,115
5.000% due 01/21/44		370,000		355,942
Bank of Montreal (Canada)
1.850% due 05/01/25		2,120,000		1,986,376
3.803% due 12/15/32		550,000		497,000
Bank of New York Mellon Corp. 1.600% due 04/24/25		970,000		902,194
Bank of Nova Scotia (Canada)
1.300% due 06/11/25		690,000		636,554
4.588% due 05/04/37		980,000		864,671
Barclays PLC (United Kingdom)
4.972% due 05/16/29		2,496,000		2,409,391
5.088% due 06/20/30		4,250,000		3,936,132
Berkshire Hathaway Finance Corp. 4.250% due 01/15/49		2,370,000		2,189,501
BNP Paribas SA (France)
2.219% due 06/09/26 ~		2,260,000		2,077,264
2.824% due 01/26/41 ~		910,000		607,578
3.375% due 01/09/25 ~		910,000		873,528
4.375% due 03/01/33 ~		970,000		884,502
4.400% due 08/14/28 ~		2,110,000		2,000,460
4.625% due 03/13/27 ~		1,110,000		1,060,855
4.705% due 01/10/25 ~		2,360,000		2,333,917
5.125% due 01/13/29 ~		2,280,000		2,286,482
5.198% due 01/10/30 ~		920,000		895,833
BPCE SA (France) 5.150% due 07/21/24 ~		1,370,000		1,344,392
Canadian Imperial Bank of Commerce (Canada) 0.950% due 06/23/23		1,250,000		1,237,454
Chubb INA Holdings, Inc. 3.350% due 05/03/26		440,000		425,911
Citigroup, Inc.
1.678% due 05/15/24		1,910,000		1,902,259
3.106% due 04/08/26		1,310,000		1,253,296
3.500% due 05/15/23		560,000		558,187
3.980% due 03/20/30		2,000,000		1,865,892

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

11

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
4.075% due 04/23/29		$ 2,840,000		$ 2,710,209
4.400% due 06/10/25		3,030,000		2,955,821
4.412% due 03/31/31		890,000		845,569
4.450% due 09/29/27		1,330,000		1,290,700
4.650% due 07/30/45		2,171,000		1,978,101
4.650% due 07/23/48		1,430,000		1,327,677
4.658% due 05/24/28		730,000		721,651
4.750% due 05/18/46		440,000		390,266
4.910% due 05/24/33		1,920,000		1,885,584
5.300% due 05/06/44		240,000		228,808
5.500% due 09/13/25		630,000		629,480
5.950% due 05/15/25		2,220,000		2,071,694
6.300% due 05/15/24		2,520,000		2,403,450
6.625% due 06/15/32		480,000		515,509
6.675% due 09/13/43		580,000		648,432
8.125% due 07/15/39		200,000		258,272
8.870% (USD LIBOR + 4.068%) due 07/30/23 §		1,820,000		1,810,900
Cooperatieve Rabobank UA (Netherlands)
1.339% due 06/24/26 ~		250,000		228,533
3.649% due 04/06/28 ~		1,560,000		1,465,533
3.758% due 04/06/33 ~		1,160,000		1,038,751
4.375% due 08/04/25		3,420,000		3,310,905
Credit Agricole SA (France) 1.907% due 06/16/26 ~		1,500,000		1,378,275
Credit Suisse AG (Switzerland)
2.950% due 04/09/25		1,580,000		1,470,253
7.500% due 02/15/28		3,400,000		3,612,500
7.950% due 01/09/25		3,210,000		3,267,010
Credit Suisse Group AG (Switzerland)
2.193% due 06/05/26 ~		1,718,000		1,533,664
2.593% due 09/11/25 ~		250,000		232,175
3.091% due 05/14/32 ~		2,240,000		1,806,493
4.194% due 04/01/31 ~		3,760,000		3,347,528
4.550% due 04/17/26		440,000		406,450
9.016% due 11/15/33 ~		780,000		926,172
Danske Bank AS (Denmark)
1.226% due 06/22/24 ~		2,570,000		2,537,743
3.244% due 12/20/25 ~		800,000		761,523
5.375% due 01/12/24 ~		1,470,000		1,456,820
Goldman Sachs Capital II 5.730% (USD LIBOR + 0.768%) due 05/01/23 §		298,000		226,480
Goldman Sachs Group, Inc.
2.908% due 07/21/42		370,000		265,375
3.210% due 04/22/42		160,000		120,772
3.500% due 04/01/25		2,050,000		1,991,694
3.500% due 11/16/26		40,000		38,238
3.615% due 03/15/28		710,000		672,379
3.625% due 02/20/24		420,000		413,901
4.223% due 05/01/29		1,000,000		958,962
4.250% due 10/21/25		3,150,000		3,059,244
4.750% due 10/21/45		20,000		18,500
5.150% due 05/22/45		3,100,000		2,941,801
5.950% due 01/15/27		1,733,000		1,786,257
6.250% due 02/01/41		3,450,000		3,799,177
6.750% due 10/01/37		1,485,000		1,608,667
Guardian Life Global Funding 1.100% due 06/23/25 ~		690,000		634,024
HSBC Bank USA NA 7.000% due 01/15/39		1,240,000		1,359,251
HSBC Holdings PLC (United Kingdom)
2.099% due 06/04/26		200,000		183,812
3.973% due 05/22/30		1,480,000		1,336,683
4.250% due 03/14/24		2,070,000		2,016,917
4.250% due 08/18/25		1,100,000		1,047,107
4.762% due 03/29/33		1,190,000		1,076,698
Intercontinental Exchange, Inc.
4.600% due 03/15/33		980,000		966,906
4.950% due 06/15/52		540,000		525,714
Intesa Sanpaolo SpA (Italy)
5.017% due 06/26/24 ~		10,470,000		10,062,843

	Principal Amount		Value
5.710% due 01/15/26 ~		$ 350,000		$ 331,950
JPMorgan Chase & Co.
1.514% due 06/01/24		800,000		794,997
2.083% due 04/22/26		3,000,000		2,808,756
2.522% due 04/22/31		2,660,000		2,275,558
3.109% due 04/22/51		460,000		326,597
3.875% due 09/10/24		1,760,000		1,730,794
4.023% due 12/05/24		2,730,000		2,704,153
4.203% due 07/23/29		3,010,000		2,910,084
4.250% due 10/01/27		870,000		856,646
4.452% due 12/05/29		4,010,000		3,897,752
4.950% due 06/01/45		2,540,000		2,417,605
KKR Group Finance Co. II LLC 5.500% due 02/01/43 ~		350,000		332,415
Lloyds Banking Group PLC (United Kingdom)
3.900% due 03/12/24		1,910,000		1,873,199
4.375% due 03/22/28		2,430,000		2,308,716
Mastercard, Inc. 3.850% due 03/26/50		880,000		782,745
Mitsubishi UFJ Financial Group, Inc. (Japan)
3.837% due 04/17/26		910,000		882,276
4.080% due 04/19/28		940,000		900,838
Morgan Stanley
2.188% due 04/28/26		3,400,000		3,191,849
2.699% due 01/22/31		2,830,000		2,439,297
3.622% due 04/01/31		3,040,000		2,782,058
3.737% due 04/24/24		1,450,000		1,447,458
3.772% due 01/24/29		200,000		189,577
4.431% due 01/23/30		170,000		164,047
National Securities Clearing Corp.
1.200% due 04/23/23 ~		950,000		947,689
1.500% due 04/23/25 ~		1,000,000		934,924
Natwest Group PLC (United Kingdom)
4.519% due 06/25/24		200,000		199,053
4.892% due 05/18/29		360,000		345,982
5.076% due 01/27/30		500,000		486,659
New York Life Global Funding 0.950% due 06/24/25 ~		840,000		773,822
Nuveen LLC 4.000% due 11/01/28 ~		1,500,000		1,443,505
Park Aerospace Holdings Ltd. (Ireland) 5.500% due 02/15/24 ~		630,000		624,397
Principal Life Global Funding II 1.250% due 06/23/25 ~		640,000		585,872
Royal Bank of Canada (Canada)
1.150% due 06/10/25		1,170,000		1,077,033
1.600% due 04/17/23		1,970,000		1,966,679
3.875% due 05/04/32		570,000		527,327
Santander UK Group Holdings PLC (United Kingdom) 5.625% due 09/15/45 ~		408,000		338,807
Standard Chartered PLC (United Kingdom) 6.312% (USD LIBOR + 1.510%) due 01/30/27 § ~		3,900,000		3,294,825
Swedbank AB (Sweden) 1.300% due 06/02/23 ~		2,200,000		2,182,193
Teachers Insurance & Annuity Association of America 6.850% due 12/16/39 ~		132,000		148,319
Toronto-Dominion Bank (Canada)
0.750% due 06/12/23		1,510,000		1,496,836
1.150% due 06/12/25		1,720,000		1,583,964
4.456% due 06/08/32		1,940,000		1,890,350
UBS Group AG (Switzerland)
2.746% due 02/11/33 ~		850,000		681,723
4.125% due 09/24/25 ~		1,050,000		1,005,010
4.488% due 05/12/26 ~		1,050,000		1,013,512
4.751% due 05/12/28 ~		1,350,000		1,296,313
7.000% due 01/31/24 ~		7,030,000		6,687,006
US Bancorp 1.450% due 05/12/25		2,450,000		2,257,963

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

12

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Visa, Inc.
3.150% due 12/14/25		$ 2,010,000		$ 1,953,991
4.300% due 12/14/45		1,570,000		1,513,702
WEA Finance LLC/Westfield UK & Europe Finance PLC (France) 3.750% due 09/17/24 ~		6,230,000		5,906,082
Wells Fargo & Co.
2.188% due 04/30/26		1,310,000		1,228,597
2.879% due 10/30/30		980,000		852,288
3.000% due 10/23/26		2,240,000		2,097,344
3.350% due 03/02/33		590,000		511,882
3.750% due 01/24/24		1,700,000		1,680,020
4.150% due 01/24/29		1,150,000		1,099,225
4.400% due 06/14/46		1,650,000		1,364,340
4.478% due 04/04/31		3,350,000		3,209,224
4.650% due 11/04/44		1,600,000		1,382,777
4.750% due 12/07/46		2,550,000		2,220,311
4.900% due 11/17/45		1,490,000		1,329,822
5.013% due 04/04/51		7,140,000		6,732,740
5.375% due 11/02/43		2,030,000		1,947,142
5.606% due 01/15/44		1,567,000		1,513,697
				279,554,103
Industrial - 1.9%
3M Co.
2.375% due 08/26/29		990,000		875,663
3.050% due 04/15/30		340,000		311,141
3.700% due 04/15/50		2,220,000		1,823,120
Ball Corp. 3.125% due 09/15/31		1,220,000		1,010,727
Boeing Co.
2.196% due 02/04/26		1,190,000		1,104,625
2.700% due 02/01/27		610,000		562,341
3.200% due 03/01/29		1,480,000		1,353,307
3.250% due 02/01/35		3,350,000		2,738,896
3.550% due 03/01/38		460,000		366,046
3.750% due 02/01/50		1,380,000		1,047,087
4.875% due 05/01/25		1,340,000		1,337,934
5.150% due 05/01/30		1,900,000		1,912,866
5.705% due 05/01/40		2,190,000		2,217,679
5.805% due 05/01/50		1,720,000		1,733,855
5.930% due 05/01/60		150,000		150,121
Builders FirstSource, Inc. 4.250% due 02/01/32 ~		130,000		113,398
Carrier Global Corp. 3.577% due 04/05/50		100,000		75,853
Deere & Co.
3.100% due 04/15/30		370,000		341,306
3.750% due 04/15/50		760,000		676,046
Eaton Corp. 4.150% due 11/02/42		410,000		363,564
General Dynamics Corp.
3.250% due 04/01/25		420,000		408,938
4.250% due 04/01/40		100,000		94,535
4.250% due 04/01/50		340,000		318,490
L3Harris Technologies, Inc.
4.854% due 04/27/35		370,000		365,405
5.054% due 04/27/45		570,000		545,004
Lockheed Martin Corp.
3.550% due 01/15/26		605,000		599,530
3.900% due 06/15/32		600,000		583,962
4.150% due 06/15/53		2,290,000		2,084,747
4.500% due 05/15/36		580,000		573,940
Northrop Grumman Corp.
2.930% due 01/15/25		1,790,000		1,734,087
3.250% due 01/15/28		2,110,000		2,005,791
5.250% due 05/01/50		890,000		923,053
Otis Worldwide Corp. 2.056% due 04/05/25		870,000		821,606
Raytheon Technologies Corp.
2.250% due 07/01/30		640,000		548,621
3.150% due 12/15/24		750,000		732,165

	Principal Amount		Value
3.950% due 08/16/25		$ 950,000		$ 939,415
4.125% due 11/16/28		390,000		384,780
4.500% due 06/01/42		380,000		360,519
Republic Services, Inc. 2.500% due 08/15/24		1,000,000		969,052
Union Pacific Corp.
2.150% due 02/05/27		650,000		602,476
2.400% due 02/05/30		840,000		739,536
2.891% due 04/06/36		1,060,000		876,704
3.750% due 07/15/25		430,000		424,198
3.750% due 02/05/70		1,950,000		1,503,596
3.839% due 03/20/60		365,000		297,097
Vertiv Group Corp. 4.125% due 11/15/28 ~		570,000		503,586
				40,056,408
Technology - 1.4%
Apple, Inc.
1.125% due 05/11/25		2,110,000		1,981,139
2.450% due 08/04/26		1,610,000		1,533,301
Broadcom, Inc. 3.137% due 11/15/35 ~		4,110,000		3,164,032
Intel Corp.
1.600% due 08/12/28		530,000		463,408
3.050% due 08/12/51		240,000		164,150
3.700% due 07/29/25		620,000		611,467
4.750% due 03/25/50		920,000		844,899
5.125% due 02/10/30		880,000		896,534
International Business Machines Corp. 3.000% due 05/15/24		2,800,000		2,748,840
Micron Technology, Inc. 5.875% due 02/09/33		1,220,000		1,234,238
Microsoft Corp.
2.525% due 06/01/50		41,000		29,051
2.921% due 03/17/52		1,497,000		1,139,549
3.041% due 03/17/62		908,000		681,764
3.300% due 02/06/27		960,000		942,383
3.450% due 08/08/36		72,000		66,670
NVIDIA Corp.
2.850% due 04/01/30		580,000		528,315
3.500% due 04/01/40		1,520,000		1,306,613
3.500% due 04/01/50		1,250,000		1,024,703
3.700% due 04/01/60		1,590,000		1,284,545
NXP BV/NXP Funding LLC/NXP USA, Inc. (China) 2.700% due 05/01/25		1,030,000		978,082
Oracle Corp.
1.650% due 03/25/26		2,150,000		1,976,121
2.875% due 03/25/31		1,830,000		1,566,868
2.950% due 04/01/30		260,000		229,664
4.650% due 05/06/30		900,000		876,629
Salesforce, Inc.
3.250% due 04/11/23		1,200,000		1,199,397
3.700% due 04/11/28		680,000		668,584
Texas Instruments, Inc. 1.750% due 05/04/30		890,000		754,422
Workday, Inc. 3.700% due 04/01/29		950,000		891,398
				29,786,766
Utilities - 0.3%
Berkshire Hathaway Energy Co. 6.125% due 04/01/36		586,000		645,924
Consolidated Edison Co. of New York, Inc.
3.350% due 04/01/30		390,000		359,629
3.950% due 04/01/50		470,000		390,258
Duke Energy Ohio, Inc. 3.650% due 02/01/29		1,390,000		1,317,703
Pacific Gas and Electric Co.
2.100% due 08/01/27		810,000		707,034
2.500% due 02/01/31		350,000		283,847
3.300% due 08/01/40		210,000		149,285
3.500% due 08/01/50		490,000		324,126

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

13

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Virginia Electric & Power Co. 6.350% due 11/30/37		$ 2,130,000		$ 2,378,593
				6,556,399
Total Corporate Bonds & Notes (Cost $912,780,395)				822,016,902
SENIOR LOAN NOTES - 3.1%
Communications - 0.2%
Charter Communications Operating LLC
Term B1 6.557% (USD LIBOR + 1.750%) due 04/30/25 §		924,594		925,028
Term B2 6.557% (SOFR + 1.750%) due 02/01/27 §		7,386		7,329
Virgin Media Bristol LLC
Term N 7.184% (USD LIBOR + 2.500%) due 01/31/28 §		1,811,848		1,788,229
Term Q 7.934% (USD LIBOR + 3.250%) due 01/31/29 §		620,000		614,907
				3,335,493
Consumer, Cyclical - 0.8%
Air Canada Term B (Canada) 8.369% (USD LIBOR + 3.500%) due 08/11/28 §		1,657,475		1,653,923
Alterra Mountain Co. Term B 8.340% (USD LIBOR + 3.500%) due 08/17/28 §		1,344,349		1,340,989
Caesars Entertainment Corp. Term B 8.157% (SOFR + 3.250%) due 02/06/30 §		160,000		159,400
Clarios Global LP Term B 8.090% (USD LIBOR + 3.250%) due 04/30/26 §		3,675,191		3,663,706
Great Outdoors Group LLC Term B1 8.590% (USD LIBOR + 3.750%) due 03/06/28 §		1,022,721		1,011,641
GVC Holdings Gibraltar Ltd. Term B4 (United Kingdom) 7.437% (USD LIBOR + 2.500%) due 03/29/27 §		286,586		286,542
Harbor Freight Tools USA, Inc. Term B 7.590% (USD LIBOR + 2.750%) due 10/19/27 §		1,007,352		980,909
PCI Gaming Authority Term B 7.340% (USD LIBOR + 2.500%) due 05/29/26 §		1,637,523		1,638,956
Scientific Games International, Inc. (2nd Lien) 7.960% (SOFR + 3.000%) due 04/14/29 §		1,868,593		1,856,332
SkyMiles IP Ltd. Term B 8.558% (USD LIBOR + 3.750%) due 10/20/27 §		589,000		611,382
Station Casinos LLC Term B 7.100% (USD LIBOR + 2.250%) due 02/08/27 §		1,040,147		1,033,646
UFC Holdings LLC Term B 7.570% (USD LIBOR + 2.750%) due 04/29/26 §		1,282,253		1,276,198

	Principal Amount		Value
United Airlines, Inc. Term B 8.568% (USD LIBOR + 3.750%) due 04/21/28 §		$ 1,070,024		$ 1,065,789
				16,579,413
Consumer, Non-Cyclical - 0.9%
Allied Universal Holdco LLC Term B 8.657% (SOFR + 3.750%) due 05/12/28 §		2,059,560		1,957,869
Belron Finance US LLC Term B 7.125% (USD LIBOR + 2.250%) due 11/13/25 §		646,496		647,103
Eyecare Partners LLC 8.590% (USD LIBOR + 3.750%) due 02/18/27 §		942,409		779,254
Gainwell Acquisition Corp. Term B 8.998% (SOFR + 4.000%) due 10/01/27 §		1,428,199		1,361,252
Garda World Security Corp. Term B (Canada) 9.109% (SOFR + 4.250%) due 10/30/26 §		631,822		627,610
Global Medical Response, Inc. Term B 9.236% (USD LIBOR + 4.250%) due 10/02/25 §		2,920,209		2,080,649
ICON Luxembourg SARL Term B (Luxembourg) 7.410% (SOFR + 2.250%) due 07/03/28 §		1,661,003		1,659,792
Medline Borrower LP Term B 8.090% (USD LIBOR + 3.250%) due 10/23/28 §		13,047		12,736
Phoenix Guarantor, Inc.
Term B 8.090% (USD LIBOR + 3.250%) due 03/05/26 §		1,449,592		1,414,712
Term B3 8.340% (USD LIBOR + 3.500%) due 03/05/26 §		280,511		273,762
PRA Health Sciences, Inc. Term B 7.409% (USD LIBOR + 2.250%) due 07/03/28 §		440,024		439,703
Prime Security Services Borrower LLC Term B1 7.943% (USD LIBOR + 2.750%) due 09/23/26 §		975,386		973,497
Sotera Health Holdings LLC 7.575% (USD LIBOR + 2.750%) due 12/11/26 §		2,490,000		2,407,519
Trans Union LLC Term B5 6.590% (USD LIBOR + 1.750%) due 11/16/26 §		994,140		988,105
Triton Water Holdings, Inc. Term B 8.659% (USD LIBOR + 3.500%) due 03/31/28 §		1,907,982		1,723,384
Verscend Holding Corp. Term B 8.840% (USD LIBOR + 4.000%) due 08/27/25 §		174,905		174,971
				17,521,918
Diversified - 0.0%
First Eagle Holdings, Inc. Term B 7.659% (USD LIBOR + 2.500%) due 02/01/27 §		934,883		912,095
Financial - 0.5%
Allspring Buyer LLC Term B 8.163% (USD LIBOR + 3.000%) due 11/01/28 §		826,939		825,217
AmWINS Group, Inc.
Term B 7.109% (USD LIBOR + 2.250%) due 02/19/28 §		305,180		302,022
7.657% (SOFR + 2.750%) due 02/19/28 §		219,450		216,501

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

14

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Asurion LLC
Term B8 8.090% (USD LIBOR + 3.250%) due 12/23/26 §	$	1,422,739	$	1,326,704
Term B9 8.090% (USD LIBOR + 3.250%) due 07/31/27 §		132,185		121,610
Term B11 9.157% (SOFR + 4.250%) due 08/19/28 §		1,950,745		1,812,568
Castlelake Aviation Ltd. Term B 7.616% (USD LIBOR + 2.750%) due 10/22/26 §		1,067,378		1,058,572
Citadel Securities LP Term B 7.422% (SOFR + 2.500%) due 02/02/28 §		157,744		156,640
Deerfield Dakota Holding LLC Term B 8.557% (SOFR + 3.750%) due 04/09/27 §		1,310,571		1,272,346
Setanta Aircraft Leasing DAC Term B (Ireland) 7.159% (USD LIBOR + 2.000%) due 11/05/28 §		2,290,000		2,293,577
VFH Parent LLC Term B 7.859% (SOFR + 3.000%) due 01/13/29 § ±		1,574,100		1,526,877
				10,912,634
Industrial - 0.4%
Ali Group North America Corp. Term B 6.922% (SOFR + 2.000%) due 07/30/29 §		945,347		933,235
Brown Group Holding LLC Term B 7.407% (SOFR + 2.500%) due 06/07/28 §		2,243,398		2,226,012
Coherent Corp Term B 7.672% (USD LIBOR + 2.750%) due 07/02/29 §		1,440,671		1,429,865
Genesee & Wyoming, Inc. 6.998% (USD LIBOR + 2.000%) due 12/30/26 §		1,809,317		1,800,578
GFL Environmental, Inc. Term B (Canada) 7.806% (SOFR + 3.000%) due 05/28/27 §		96,499		96,620
Solis IV BV Term B1 (Netherlands) 8.373% (SOFR + 3.500%) due 02/26/29 §		2,519,084		2,277,882
				8,764,192
Technology - 0.3%
AthenaHealth Group, Inc.
Term B 8.160% (SOFR + 3.500%) due 02/15/29 § f		155,868		145,347
8.259% (SOFR + 3.500%) due 02/15/29 §		1,268,791		1,183,148
Cloudera, Inc. Term B 8.657% (USD LIBOR + 3.750%) due 10/08/28 §		715,100		675,769
Dcert Buyer, Inc. Term B 8.696% (SOFR + 4.000%) due 10/16/26 §		1,401,956		1,377,772
Magenta Buyer LLC (1st Lien) 9.580% (USD LIBOR + 4.750%) due 07/27/28 §		2,102,789		1,734,801

	Principal Amount		Value
Peraton Corp. Term B 8.590% (USD LIBOR + 3.750%) due 02/01/28 §		$ 1,543,680		$ 1,525,542
				6,642,379
Total Senior Loan Notes (Cost $67,288,014)				64,668,124
MORTGAGE-BACKED SECURITIES - 37.7%
Collateralized Mortgage Obligations - Commercial – 4.7%
Bank 2019-BN17(IO) 1.009% due 04/15/52 §		35,903,213		1,702,390
BANK 2023-BNK45 5.203% due 02/15/56		2,040,000		2,042,781
BBCCRE Trust 4.563% due 08/10/33 § ~		4,965,000		3,759,581
BHMS 5.934% (USD LIBOR + 1.250%) due 07/15/35 § ~		3,500,000		3,371,576
BX Commercial Mortgage Trust 5.535% (USD LIBOR + 0.850%) due 11/15/38 § ~		2,480,000		2,387,576
BX Trust 5.045% due 02/15/28 ~		1,240,000		1,211,767
CD Mortgage Trust (IO) 1.226% due 05/10/50 §		25,422,890		975,334
Citigroup Commercial Mortgage Trust 4.175% due 07/10/47 §		1,970,000		1,884,865
Commercial Mortgage Trust
4.300% due 10/10/46		510,000		461,886
4.762% due 10/10/46 §		450,000		376,105
4.873% due 08/15/45 § ~		2,390,000		2,072,054
5.110% due 10/10/46 §		220,000		147,747
Commercial Mortgage Trust (IO) 1.228% due 10/15/45 §		2,153,617		22
Credit Suisse Mortgage Capital Certificates 7.334% (USD LIBOR + 2.650%) due 05/15/36 § ~		5,416,524		5,272,809
Credit Suisse Mortgage Trust
3.953% due 09/15/37 ~		6,800,000		6,190,392
4.373% due 09/15/37 ~		1,700,000		952,222
10.034% (USD LIBOR + 5.350%) due 07/15/32 § ~		3,750,000		3,355,883
CSMC
7.523% (SOFR + 2.695%) due 06/15/39 § ~		1,830,000		1,820,931
DBJPM Mortgage Trust 2.890% due 08/10/49		2,010,000		1,850,792
Fannie Mae
2.232% due 02/25/27		2,012,081		1,891,899
2.560% due 09/25/29		965,085		880,904
2.720% due 10/25/31 §		366,838		326,993
3.106% due 04/25/28 §		82,729		78,738
Fannie Mae (IO) 0.560% due 06/25/29 §		9,375,931		256,722
Fannie Mae - Aces
2.500% due 10/25/37		433,821		381,198
3.061% due 05/25/27 §		521,347		498,133
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates 0.357% due 06/25/32 §		9,992,240		294,664
Freddie Mac (IO)
0.348% due 09/25/31 §		3,098		75
0.472% due 02/25/36 §		4,987,620		203,810
0.570% due 12/25/27 §		5,983,525		132,608
0.598% due 12/25/35 §		15,773		762
0.779% due 03/25/28 §		6,095,430		161,792
1.666% due 08/27/28 §		4,000,000		292,948

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

15

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Freddie Mac Multifamily Structured Pass-Through Certificates
0.230% due 06/25/54 §		$ 5,498,856		$ 109,942
0.297% due 03/25/32 §		6,897,343		157,499
0.342% due 04/25/55 §		6,995,024		186,423
Freddie Mac Multifamily Structured Pass-Through Certificates (IO)
0.637% due 10/25/26 §		16,682,109		293,547
0.880% due 06/25/29 §		7,228,451		322,523
1.148% due 06/25/29 §		6,050,000		373,748
1.212% due 06/25/27 §		1,521,882		45,539
1.288% due 07/25/26 §		4,978,678		170,969
Government National Mortgage Association
1.450% due 01/16/63		2,419,893		1,924,386
1.850% due 02/16/61		1,700,000		981,759
2.200% due 10/16/63		2,000,000		1,555,997
2.844% due 11/16/47 §		919,125		837,774
3.000% due 10/16/64 §		2,900,000		2,303,154
Government National Mortgage Association (IO)
0.064% due 10/16/48 §		4,593,825		6,213
0.323% due 01/16/53 §		26,096,144		226,194
0.449% due 08/16/58 §		1,240,685		32,292
0.503% due 12/16/59 §		1,858,966		59,629
0.507% due 04/16/57 §		1,615,457		48,990
0.527% due 02/16/59 §		1,873,765		61,435
0.567% due 01/16/63 §		4,916,413		251,184
0.570% due 11/16/47 §		8,013,856		103,452
0.571% due 02/16/62 §		3,439,700		182,954
0.595% due 07/16/58 §		1,029,926		28,944
0.640% due 02/16/61 §		2,153,029		123,109
0.666% due 11/16/55 §		6,676,599		163,119
0.805% due 01/16/61 §		12,397,501		753,778
0.826% due 05/16/63 §		4,661,306		292,549
0.840% due 05/16/60 §		1,784,556		105,942
0.870% due 10/16/62 §		2,736,467		175,892
0.913% due 11/16/60 §		5,695,890		369,977
1.422% due 10/16/60 §		30,677,245		2,712,635
GS Mortgage Securities Corp. Trust
5.835% (USD LIBOR + 1.150%) due 05/15/26 § ~		2,360,000		2,130,365
6.484% (USD LIBOR + 1.800%) due 09/15/31 § ~		3,882,008		3,241,475
GS Mortgage Securities Trust
3.164% due 05/10/50		3,048,713		2,816,390
3.777% due 05/10/50 §		3,880,000		3,659,821
4.025% due 05/10/50 §		550,000		502,592
5.161% due 11/10/46 §		1,070,000		1,051,548
JP Morgan Chase Commercial Mortgage Securities Trust
2.822% due 08/15/49		3,400,000		3,136,839
4.623% due 08/15/48 §		2,470,000		2,305,801
4.884% due 01/15/47 §		510,000		497,443
6.201% due 02/15/51 §		17,632		15,722
MHC Commercial Mortgage Trust 5.485% (USD LIBOR + 0.801%) due 04/15/38 § ~		1,240,000		1,200,761
ML-CFC Commercial Mortgage Trust
5.450% due 08/12/48 §		426,971		109,389
5.450% due 08/12/48 § ~		53,910		13,812
6.193% due 09/12/49 §		40,869		40,075
Ready Capital Mortgage Financing LLC
6.045% (USD LIBOR + 1.200%) due 11/25/36 § ~		4,696,326		4,597,276
7.259% (SOFR + 2.467%) due 06/25/37 § ~		948,402		946,909
Shops at Crystals Trust 3.126% due 07/05/36 ~		7,500,000		6,634,490
Waterfall Commercial Mortgage Trust 4.104% due 01/14/26 § ~		637,415		627,230
WFRBS Commercial Mortgage Trust
4.204% due 11/15/47 §		3,830,000		3,531,696
4.723% due 03/15/47 §		340,000		329,333
WFRBS Commercial Mortgage Trust (IO) 0.961% due 03/15/47 §		5,952,054		30,436
				97,618,910

	Principal Amount		Value
Collateralized Mortgage Obligations - Residential - 6.5%
Adjustable Rate Mortgage Trust
3.024% due 10/25/35 §		$ 1,160,364		$ 969,287
5.345% (USD LIBOR + 0.500%) due 03/25/36 §		334,576		95,013
Alternative Loan Trust
6.000% due 03/25/27		10,330		10,176
6.280% (16.940% - USD LIBOR) due 06/25/35 §		2,117,272		1,787,775
6.500% due 09/25/36		1,026,865		594,819
9.219% (28.600% - USD LIBOR) due 07/25/36 §		716,946		703,221
Angel Oak Mortgage Trust 4.750% due 09/26/67 § ~		4,885,629		4,717,030
Chevy Chase Funding LLC Mortgage-Backed Certificates 5.025% (USD LIBOR + 0.180%) due 08/25/47 § ~		130,377		104,776
Citigroup Mortgage Loan Trust, Inc.
4.133% due 04/25/37 §		233,750		204,237
6.500% due 10/25/36 § ~		1,273,774		733,512
Connecticut Avenue Securities Trust
6.895% (USD LIBOR + 2.050%) due 01/25/40 § ~		1,183,675		1,188,017
6.945% (USD LIBOR + 2.100%) due 10/25/39 § ~		522,891		524,561
Countrywide Home Loan Mortgage Pass-Through Trust
5.500% due 07/25/35		472,117		256,813
5.750% due 02/25/37		3,089,941		1,591,058
Credit Suisse Mortgage Trust
2.000% due 01/25/60 ~		1,470,550		1,252,167
3.500% due 02/25/48 § ~		7,080,089		6,369,993
3.931% due 01/27/36 § ~		7,895,183		7,120,311
CSMC Trust
1.101% due 05/25/66 § ~		1,731,116		1,418,552
2.952% due 07/25/57 § ~		9,880,000		8,945,777
6.811% (SOFR + 2.500%) due 10/25/66 § ~		4,994,191		4,981,724
DCP Rights, LLC 7.550% due 01/15/24		1,250,000		1,252,627
Fannie Mae
4.000% due 07/25/40		2,001,533		1,969,933
5.195% (USD LIBOR + 0.350%) due 05/25/34 §		174,126		172,432
6.000% due 05/25/42		458,779		488,649
6.500% due 06/25/39		22,227		22,766
7.000% due 05/25/42		188,728		204,722
Fannie Mae (IO)
0.128% due 10/25/35 §		153,544		7,747
0.255% due 08/25/44 §		1,221,406		57,223
0.309% due 08/25/55 §		429,674		16,129
0.388% due 03/25/36 §		89,861		3,901
0.955% due 07/25/36 §		155,968		12,468
1.305% (6.150% - USD LIBOR) due 09/25/41 - 08/25/45 §		4,273,204		391,749
1.635% (6.480% - USD LIBOR) due 04/25/40 §		243,421		28,923
1.755% (6.600% - USD LIBOR) due 07/25/42 §		157,703		19,432
1.805% (6.650% - USD LIBOR) due 03/25/42 §		611,949		39,833
2.500% due 08/25/50 - 02/25/51		4,084,961		624,688
3.000% due 11/25/26 - 09/25/32		1,753,283		82,410
3.500% due 07/25/28 - 11/25/41		980,025		119,024
4.000% due 11/25/41		1,047,254		190,932
4.365% due 12/25/36 §		373,632		27,763
4.500% due 11/25/39		140,247		26,159
4.733% due 12/25/36 §		287,820		15,999
5.000% due 01/25/38 - 01/25/39		392,297		74,551
5.000% due 01/25/39 §		100,387		20,142
5.500% due 01/25/39 §		91,668		19,930
6.000% due 01/25/38 - 07/25/38		398,938		87,253

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

16

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Fannie Mae (PO) due 03/25/42		$ 80,256		$ 71,775
Fannie Mae Connecticut Avenue Securities
9.845% (USD LIBOR + 5.000%) due 11/25/24 §		131,304		132,291
10.095% (USD LIBOR + 5.250%) due 10/25/23 §		609,190		619,929
Fannie Mae REMICS
2.000% due 08/25/50		2,600,000		2,011,541
2.500% due 02/25/44		3,771,756		3,282,121
Flagstar Mortgage Trust 3.500% due 04/25/48 § ~		104,769		102,107
Freddie Mac
3.000% due 08/15/48		355,004		315,968
4.000% due 12/15/39 - 04/25/52		1,206,057		1,141,867
5.000% due 02/15/30		582,570		588,427
5.684% (USD LIBOR + 1.000%) due 02/15/32 §		28,210		27,056
6.000% due 05/15/36		836,166		881,685
6.360% (SOFR + 1.800%) due 01/25/51 § ~		2,348,789		2,317,820
7.145% (USD LIBOR + 2.300%) due 01/25/50 § ~		2,570,000		2,488,153
Freddie Mac (IO)
0.212% due 04/15/41 §		537,443		23,479
0.250% due 01/15/38 §		48,158		416
1.266% (5.950% - USD LIBOR) due 10/15/41 §		437,465		41,454
1.316% (6.000% - USD LIBOR) due 05/15/44 §		2,328,124		253,085
1.346% (6.030% - USD LIBOR) due 09/15/37 §		640,147		52,151
1.366% (6.050% - USD LIBOR) due 08/15/39 §		616,911		52,333
1.546% (6.230% - USD LIBOR) due 01/15/40 §		109,808		11,047
1.566% (6.250% - USD LIBOR) due 09/15/42 §		370,134		30,691
1.606% (6.290% - USD LIBOR) due 11/15/36 §		213,727		20,951
2.000% due 10/25/50		2,141,447		289,570
2.500% due 05/25/49 - 01/25/51		11,687,303		1,749,448
3.000% due 12/15/31		308,739		16,051
3.500% due 06/15/27 - 04/15/43		960,835		67,412
4.000% due 04/15/43		66,663		2,740
Freddie Mac REMICS
2.000% due 03/25/51		5,271,170		593,241
3.000% due 09/15/44		2,322,092		2,082,824
Freddie Mac STACR Trust 6.695% (USD LIBOR + 1.850%) due 02/25/50 § ~		1,834,092		1,823,682
Freddie Mac Structured Agency Credit Risk Debt Notes 14.195% (USD LIBOR + 9.350%) due 04/25/28 §		2,833,222		2,964,846
Government National Mortgage Association
2.500% due 05/20/51 - 10/20/51		4,304,748		2,201,966
2.750% due 03/20/48		505,998		457,146
3.000% due 07/20/49		2,353,975		2,143,824
4.866% (USD LIBOR + 0.300%) due 02/20/68 - 07/20/68 §		1,758,199		1,739,813
4.966% (USD LIBOR + 0.400%) due 08/20/70 §		156,627		155,231
5.016% (USD LIBOR + 0.450%) due 07/20/70 §		509,925		493,930
5.066% (USD LIBOR + 0.500%) due 03/20/61 - 07/20/70 §		1,192,495		1,174,486
5.635% (USD LIBOR + 1.000%) due 05/20/60 §		176,530		176,888
Government National Mortgage Association (IO)
0.475% due 11/20/42 §		131,099		3,195

	Principal Amount		Value
1.372% (6.100% - USD LIBOR) due 08/16/42 §		$416,139		$45,154
1.422% (6.150% - USD LIBOR) due 06/16/43 §		379,702		14,992
1.472% (6.200% - USD LIBOR) due 10/16/42 §		571,891		64,402
1.719% (6.480% - USD LIBOR) due 04/20/40 §		59,231		6,782
1.789% (6.550% - USD LIBOR) due 06/20/40 §		1,155,053		123,080
1.872% (6.600% - USD LIBOR) due 04/16/42 §		1,146,520		156,867
1.889% (6.650% - USD LIBOR) due 01/20/40 §		16,304		143
2.000% due 12/20/50		7,608,473		832,287
2.500% due 08/20/50 - 02/20/51		22,733,514		3,198,052
3.500% due 04/20/27 - 04/20/50		3,289,501		521,685
4.000% due 04/16/45		616,691		110,354
5.000% due 10/20/44		2,993,802		590,380
GS Mortgage-Backed Securities Trust 4.000% due 05/25/62 § ~		1,830,558		1,666,360
Impac CMB Trust 5.365% (USD LIBOR + 0.520%) due 11/25/35 §		991,572		859,626
IndyMac INDX Mortgage Loan Trust 5.365% (USD LIBOR + 0.520%) due 06/25/35 §		840,020		645,813
JP Morgan Mortgage Trust
3.500% due 09/25/48 § ~		755,788		678,420
3.500% due 10/25/48 § ~		1,592,181		1,429,027
4.207% due 08/25/35 §		258,612		237,238
Legacy Mortgage Asset Trust
1.750% due 04/25/61 § ~		1,962,395		1,840,600
2.250% due 07/25/67 § ~		3,693,434		3,374,817
Lehman Mortgage Trust 5.500% (USD LIBOR + 0.750%) due 12/25/35 §		2,762,923		1,351,297
MASTR Reperforming Loan Trust 7.000% due 08/25/34 ~		895,013		689,990
Merrill Lynch Mortgage Investors Trust 3.471% due 06/25/35 §		499,745		457,807
Morgan Stanley Mortgage Loan Trust
3.543% due 07/25/34 §		127,119		113,456
3.703% due 07/25/35 §		516,473		422,807
Morgan Stanley Resecuritization Trust 3.503% (US FED + 0.710%) due 12/27/46 § ~		5,431,969		4,618,660
NAAC Reperforming Loan REMIC Trust Certificates 6.500% due 02/25/35 ~		1,048,286		948,813
New Residential Mortgage Loan Trust 4.000% due 05/25/57 § ~		1,838,733		1,714,643
Nomura Resecuritization Trust 3.365% (US FED + 1.000%) due 08/26/46 § ~		3,378,575		3,041,423
PMT Credit Risk Transfer Trust 7.602% (USD LIBOR + 2.750%) due 05/27/23 § ~		2,982,521		2,919,575
PRKCM Trust 2.071% due 11/25/56 § ~		2,018,460		1,684,525
RAAC Trust 6.000% due 09/25/34		8,416		7,885
Radnor RE Ltd. (Bermuda) 7.260% (SOFR + 2.700%) due 12/27/33 § ~		8,010,000		7,923,981
Residential Asset Securitization Trust
5.345% (USD LIBOR + 0.500%) due 07/25/36 §		315,264		227,853
6.000% due 08/25/36		687,511		461,603
Structured Adjustable Rate Mortgage Loan Trust
3.848% due 05/25/36 §		1,134,338		723,116
4.084% due 08/25/36 §		2,667,258		1,863,562

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

17

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Verus Securitization Trust 4.910% due 06/25/67 § ~		$1,689,384		$1,651,181
WaMu Mortgage Pass-Through Certificates Trust
3.187% due 10/25/36 §		399,136		351,065
3.884% due 07/25/37 §		1,419,284		1,279,878
4.157% due 09/25/33 §		57,436		52,232
Washington Mutual Mortgage Pass-Through Certificates Trust
3.838% (US FED + 0.700%) due 01/25/47 §		3,117,175		2,433,759
6.000% due 07/25/36		366,953		256,849
				133,740,883
Fannie Mae - 13.7%
due 04/13/53 #		12,800,000		10,583,148
due 04/13/53 #		6,700,000		5,775,348
due 04/13/53 #		13,600,000		12,203,793
due 04/13/53 #		16,000,000		14,868,125
due 04/13/53 #		8,500,000		8,130,150
due 04/13/53 #		14,400,000		14,110,185
due 04/13/53 #		8,900,000		8,877,055
due 04/13/53 #		5,500,000		5,555,967
1.500% due 03/01/51		2,919,541		2,301,127
2.000% due 06/01/41 - 03/01/52		37,535,098		31,369,785
2.149% due 02/01/32 §		716,952		610,590
2.500% due 03/01/38 - 09/01/61		56,506,365		49,040,838
2.810% due 04/01/25		130,000		125,773
2.930% due 06/01/30		246,258		230,553
3.000% due 07/01/35 - 03/01/52		47,615,883		43,701,555
3.200% due 02/01/29		89,589		85,191
3.250% due 05/01/29		174,825		166,715
3.450% due 03/01/29		152,551		147,140
3.500% due 12/01/34 - 06/01/52		32,154,595		30,524,793
3.850% due 08/01/32		400,000		381,488
3.900% due 08/01/32		500,000		478,787
4.000% due 10/01/42 - 06/01/57		19,433,938		19,006,374
4.060% due 07/01/32		600,000		581,955
4.310% due 02/01/30		800,000		804,753
4.480% due 05/01/33		100,000		102,366
4.500% due 04/01/23 - 08/01/58		12,878,044		12,844,409
5.000% due 07/01/33 - 06/01/41		4,020,546		4,107,350
5.500% due 04/01/37 - 02/01/53		1,032,632		1,063,448
6.000% due 07/01/41 - 01/01/53		1,361,568		1,411,050
6.500% due 05/01/40 - 02/01/53		3,102,747		3,240,934
7.000% due 02/01/39		406,122		433,858
				282,864,603
Freddie Mac - 6.4%
1.500% due 10/01/41 - 02/01/51		2,715,676		2,184,889
2.000% due 09/01/41 - 02/01/52		30,742,082		25,849,093
2.091% (UST + 1.285%) due 03/01/47 §		635,375		605,015
2.500% due 04/01/41 - 04/01/52		57,549,684		50,330,830
2.877% (USD LIBOR + 1.619%) due 11/01/47 §		1,755,689		1,700,328
3.000% due 05/01/42 - 04/01/52		12,286,208		11,236,805
3.007% (USD LIBOR + 1.628%) due 11/01/48 §		4,925,987		4,713,688
3.097% (USD LIBOR + 1.621%) due 02/01/50 §		1,808,493		1,750,366
3.500% due 01/01/38 - 05/01/52		5,172,745		4,887,225
4.000% due 10/01/42 - 07/01/49		17,626,198		17,191,738
4.500% due 07/01/23 - 01/01/51		6,056,107		6,099,887
5.000% due 12/01/35 - 06/01/48		2,398,902		2,451,801
5.500% due 08/01/37 - 01/01/53		772,502		797,973
6.000% due 10/01/36 - 12/01/52		1,940,229		2,021,492
6.500% due 09/01/39 - 03/01/53		1,660,633		1,719,558
7.000% due 03/01/39		114,908		123,469
				133,664,157

	Principal Amount		Value
Government National Mortgage Association - 6.4%
due 04/20/53 #		$1,600,000		$1,408,188
due 04/20/53 #		1,800,000		1,733,069
due 04/20/53 #		5,900,000		5,811,678
due 04/20/53 #		7,600,000		7,610,094
due 04/20/53 #		7,000,000		7,079,707
2.000% due 02/20/51 - 04/20/53		10,726,373		9,159,565
2.500% due 08/20/50 - 02/20/53		29,801,576		26,268,323
3.000% due 09/15/42 - 04/20/52		31,242,178		28,530,024
3.500% due 06/20/44 - 12/20/52		20,243,265		19,177,170
4.000% due 02/20/33 - 04/20/50		11,149,533		10,874,545
4.500% due 01/20/40 - 11/20/50		8,450,075		8,477,725
5.000% due 01/15/40 - 10/20/47		3,765,018		3,880,068
5.003% (USD LIBOR + 0.621%) due 08/20/60 §		295,301		294,683
5.500% due 06/15/36		152,378		159,080
6.000% due 06/20/35 - 03/20/42		1,983,569		2,100,374
6.500% due 10/20/37		276,240		294,328
				132,858,621
Total Mortgage-Backed Securities (Cost $833,324,071)				780,747,174
ASSET-BACKED SECURITIES - 3.0%
ACRES Commercial Realty Ltd. 5.909% (USD LIBOR + 1.200%) due 06/15/36 § ~		2,380,000		2,314,550
Arbor Realty Commercial Real Estate Notes Ltd. 6.034% (USD LIBOR + 1.350%) due 11/15/36 § ~		3,107,000		3,046,935
Citigroup Mortgage Loan Trust, Inc. 4.915% (USD LIBOR + 0.070%) due 05/25/37 §		145,742		96,171
College Ave Student Loans LLC
3.280% due 12/28/48 ~		1,358,009		1,243,165
6.245% (USD LIBOR + 1.400%) due 12/28/48 § ~		1,623,597		1,596,708
Credit Suisse European Mortgage Capital Ltd. (Ireland) 7.702% (USD LIBOR + 2.900%) due 08/09/24 § ~		4,011,150		3,937,711
Credit-Based Asset Servicing & Securitization LLC 5.625% (USD LIBOR + 0.780%) due 07/25/33 §		566,734		537,844
DB Master Finance LLC 2.791% due 11/20/51 ~		2,320,625		1,880,707
ECMC Group Student Loan Trust 6.195% (USD LIBOR + 1.350%) due 07/26/66 § ~		3,742,406		3,700,952
Fannie Mae Grantor Trust 2.898% due 06/25/27		536,384		505,810
FNA VI LLC 1.350% due 01/10/32 ~		1,994,491		1,817,201
Foundation Finance Trust 1.270% due 05/15/41 ~		1,926,612		1,715,251
Freddie Mac Structured Pass-Through Certificates 3.089% due 11/25/27		468,913		441,558
GoodLeap Sustainable Home Solutions Trust 1.930% due 07/20/48 ~		1,922,431		1,488,315
Hildene Community Funding CDO Ltd. (Cayman) 2.600% due 11/01/35 ~		4,771,678		3,849,716
Magnolia Finance X DAC (Ireland) 3.980% due 08/13/24		4,191,055		4,097,385
MF1 Ltd. (Cayman) 5.910% (SOFR + 1.350%) due 02/19/37 § ~		3,655,000		3,560,599

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
National Collegiate Student Loan Trust 5.205% (USD LIBOR + 0.360%) due 01/26/32 §		$ 1,200,000		$ 867,604
Navient Private Education Refi Loan Trust 1.690% due 05/15/69 ~		3,286,110		2,996,572
Oak Street Investment Grade Net Lease Fund 1.850% due 11/20/50 ~		4,249,739		3,838,805
Origen Manufactured Housing Contract Trust
5.522% due 10/15/37 §		2,505,900		2,295,883
6.616% due 04/15/37 §		1,704,435		1,575,798
SBA Small Business Investment Cos. 3.548% due 09/10/28		450,919		430,296
SMB Private Education Loan Trust 1.390% due 01/15/53 ~		1,417,102		1,248,108
SoFi Professional Loan Program Trust 3.340% due 08/25/47 ~		953,220		925,065
Stonepeak ABS 2.301% due 02/28/33 ~		6,622,838		6,121,516
Structured Asset Investment Loan Trust 5.845% (USD LIBOR + 1.000%) due 10/25/33 §		235,186		235,328
Sunrun Vulcan Issuer LLC 2.460% due 01/30/52 ~		1,950,892		1,649,483
Thrust Engine Leasing DAC 4.163% due 07/15/40 ~		2,219,464		1,844,596
United States Small Business Administration
2.690% due 07/01/44		1,178,079		1,048,936
2.980% due 04/01/39		645,871		603,757
Total Asset-Backed Securities (Cost $65,866,510)				61,512,325
U.S. TREASURY OBLIGATIONS - 9.7%
U.S. Treasury Bonds - 7.9%
1.875% due 11/15/51		8,375,000		5,706,614
2.000% due 08/15/51		10,880,000		7,657,863
2.250% due 05/15/41		13,310,000		10,581,710
2.375% due 02/15/42		1,860,000		1,496,755
2.375% due 05/15/51		16,210,000		12,454,156
2.875% due 05/15/52		950,000		813,085
3.000% due 08/15/52		8,420,000		7,399,075
3.250% due 05/15/42		150,000		138,480
3.375% due 11/15/48		10,000		9,360
3.625% due 08/15/43		1,020,000		990,914
3.625% due 02/15/44 ‡		2,697,000		2,611,138
4.000% due 11/15/42		41,740,000		42,887,850
4.000% due 11/15/52		67,070,000		71,198,997
				163,945,997
U.S. Treasury Inflation Indexed Bonds - 1.1%
U.S. Treasury Inflation-Indexed Notes 1.125% due 01/15/33 ^		23,877,260		23,836,793
U.S. Treasury Notes - 0.7%
3.625% due 03/31/30		12,100,000		12,158,609
4.000% due 02/29/28		660,000		671,988
4.000% due 10/31/29		1,210,000		1,239,494
4.125% due 09/30/27		510,000		519,722
4.125% due 11/15/32		6,000		6,306
4.625% due 03/15/26		340,000		347,769
				14,943,888
Total U.S. Treasury Obligations (Cost $214,668,977)				202,726,678

	Principal Amount		Value
FOREIGN GOVERNMENT BONDS & NOTES - 6.6%
Argentine Bonos del Tesoro (Argentina) 16.000% due 10/17/23 W		ARS 20,030,000		$ 34,872
Argentine Republic Government (Argentina)
0.500% due 07/09/30		$1,634,820		477,661
1.000% due 07/09/29		412,501		116,445
3.500% due 07/09/41		4,140,000		1,179,011
Brazilian Government (Brazil)
4.625% due 01/13/28		580,000		568,335
4.750% due 01/14/50		3,780,000		2,805,523
5.000% due 01/27/45		4,390,000		3,460,835
5.625% due 01/07/41		560,000		496,884
5.625% due 02/21/47		3,600,000		3,040,655
Colombia Government (Colombia)
3.250% due 04/22/32		1,810,000		1,351,394
4.125% due 02/22/42		1,850,000		1,203,738
5.625% due 02/26/44		2,180,000		1,655,164
Indonesia Government (Indonesia)
4.350% due 01/11/48		770,000		685,494
4.750% due 07/18/47 ~		400,000		376,100
Indonesia Treasury (Indonesia)
6.375% due 04/15/32		IDR 37,919,000,000		2,477,980
6.500% due 02/15/31		254,574,000,000		16,884,447
7.000% due 05/15/27		123,765,000,000		8,437,266
Israel Government International (Israel) 2.750% due 07/03/30		$1,290,000		1,168,655
Kenya Government (Kenya)
6.300% due 01/23/34 ~		3,210,000		2,275,087
7.250% due 02/28/28 ~		510,000		419,508
Mexican Bonos (Mexico)
7.750% due 11/23/34		346,790,000		17,762,499
7.750% due 11/13/42		660,067,500		31,962,908
8.000% due 11/07/47		MXN 346,070,000		17,104,731
8.500% due 05/31/29		55,030,000		3,007,625
10.000% due 12/05/24		28,960,000		1,596,734
Mexico Government (Mexico)
4.600% due 02/10/48		$3,370,000		2,759,563
5.750% due 10/12/10		1,450,000		1,301,258
Nigeria Government (Nigeria)
6.500% due 11/28/27 ~		650,000		531,323
7.143% due 02/23/30 ~		750,000		573,787
Panama Government (Panama)
2.252% due 09/29/32		2,630,000		2,022,154
4.500% due 04/01/56		1,230,000		918,511
Paraguay Government (Paraguay) 3.849% due 06/28/33 ~		790,000		697,967
Peruvian Government (Peru)
2.783% due 01/23/31		1,600,000		1,369,628
5.625% due 11/18/50		950,000		959,838
Provincia de Buenos Aires (Argentina) 5.250% due 09/01/37 § ~		4,542,772		1,609,572
Russian Federal (Russia)
6.900% due 05/23/29 * Y		RUB 107,830,000		83,320
7.050% due 01/19/28 * Y		656,291,000		507,115
7.250% due 05/10/34 * Y		41,210,000		31,843
7.650% due 04/10/30 * Y		754,940,000		583,341
7.700% due 03/16/39 * Y		690,870,000		533,834
8.150% due 02/03/27 * Y		458,179,000		354,034
State of Israel (Israel) 3.375% due 01/15/50		$990,000		760,557
Total Foreign Government Bonds & Notes (Cost $191,793,631)				136,147,196

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

19

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DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 0.8%
Repurchase Agreement - 0.8%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $17,063,605; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $17,398,444)		$ 17,057,280		$ 17,057,280
Total Short-Term Investment (Cost $17,057,280)				17,057,280
TOTAL INVESTMENTS - 100.6% (Cost $2,302,778,878)				2,084,875,679
DERIVATIVES - 1.3%				26,371,544
OTHER ASSETS & LIABILITIES, NET - (1.9%)				(38,923,133	)
NET ASSETS - 100.0%				$2,072,324,090

Notes to Schedule of Investments

(a) An investment with a value of $34,872 or less than 0.1% of the Fund’s net assets was valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or to the Board of Trustees.

(b) Investments with a total aggregate value of $2,093,487 or 0.1% of the Fund’s net assets were in default as of March 31, 2023.

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

20

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DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited

(c) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month		Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
30 Day Federal Funds		04/23		392		$155,482,016		$155,481,271		($745	)
3-Month USD SOFR		09/23		12		2,896,975		2,853,750		(43,225	)
3-Month USD SOFR		12/23		161		38,341,119		38,396,487		55,368
3-Month USD SOFR		03/26		238		57,349,402		57,753,675		404,273
AUD FX		06/23		665		44,829,883		44,561,650		(268,233	)
Australia Treasury 10-Year Bonds		06/23		260		20,670,509		21,357,296		686,787
EUR FX		06/23		387		51,413,724		52,745,681		1,331,957
Euro-Bobl		06/23		118		14,743,930		15,085,220		341,290
Euro-OAT		06/23		112		15,275,457		15,818,255		542,798
GBP FX		06/23		96		7,220,518		7,413,000		192,482
JPY FX		06/23		472		43,771,780		44,972,750		1,200,970
Long Gilt		06/23		137		16,978,889		17,466,470		487,581
MXN FX		06/23		1,420		38,425,858		38,815,700		389,842
U.S. Treasury 30-Year Bonds		06/23		1,319		168,111,191		172,995,094		4,883,903
U.S. Treasury 5-Year Notes		06/23		6,654		716,626,718		728,664,988		12,038,270
U.S. Treasury Ultra 10-Year Notes		06/23		401		46,967,819		48,577,391		1,609,572
U.S. Treasury Ultra Long Bonds		06/23		1455		198,063,468		205,336,875		7,273,407
										31,126,297
Short Futures Outstanding
3-Month USD SOFR		03/24		1,920		459,333,068		459,360,000		(26,932	)
3-Month USD SOFR		03/25		816		196,207,674		197,625,000		(1,417,326	)
CAD FX		06/23		38		2,759,839		2,811,620		(51,781	)
Euro-Bund		04/23		158		21,438,742		21,421,000		17,742
Euro-Bund		06/23		107		15,553,822		15,763,076		(209,254	)
Euro-Buxl		06/23		70		10,102,763		10,693,386		(590,623	)
Japan 10-Year Bonds		06/23		29		31,768,733		32,351,572		(582,839	)
U.S. Treasury 2-Year Notes		06/23		2,734		560,629,104		564,442,846		(3,813,742	)
U.S. Treasury 10-Year Notes		06/23		5,487		618,293,441		630,576,328		(12,282,887	)
										(18,957,642	)
Total Futures Contracts										$12,168,655

(d) Forward foreign currency contracts outstanding as of March 31, 2023 were as follows:

Currency Purchased		Currency Sold		Settlement Month		Counterparty	Unrealized Appreciation		Unrealized Depreciation
AUD	23,203,161	USD	16,178,706		04/23	MSC		$-		($660,769	)
CAD	78,816,658	USD	59,014,382		04/23	JPM		-		(684,162	)
CNH	192,689,166	USD	28,406,766		04/23	JPM		-		(340,248	)
EUR	6,287,000	USD	6,821,213		04/23	BNP		2,331		-
IDR	33,225,832,572	USD	2,160,749		04/23	JPM		61,482		-
INR	347,679,333	USD	4,174,323		04/23	JPM		56,046		-
JPY	2,132,276,206	USD	15,884,296		04/23	GSC		207,297		-
JPY	306,645,000	USD	2,347,265		04/23	MSC		-		(33,115	)
MXN	181,601,906	USD	9,623,199		04/23	GSC		426,899		-
NOK	125,617,894	EUR	11,826,645		04/23	MSC		-		(830,013	)
USD	17,851,007	CAD	24,179,186		04/23	JPM		-		(43,399	)
USD	47,038,592	CNH	321,972,108		04/23	JPM		141,114		-
USD	38,114,284	EUR	35,212,070		04/23	BNP		-		(102,852	)
USD	13,561,769	GBP	11,103,008		04/23	MSC		-		(138,873	)
USD	25,346,645	IDR	396,073,015,383		04/23	JPM		-		(1,143,752	)
USD	14,218,061	JPY	1,883,973,563		04/23	GSC		326		-
USD	50,335,991	MXN	996,350,602		04/23	GSC		-		(4,803,415	)
ZAR	57,802,295	USD	3,374,627		04/23	GSC		-		(132,213	)
Total Forward Foreign Currency Contracts								$895,495		($8,912,811	)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

21

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited

(e) Purchased options outstanding as of March 31, 2023 were as follows:

Options on Futures

Description	Exercise Price		Expiration Date	Exchange	Number of Contracts		Notional Amount		Cost		Value
Call - U.S. Treasury 5-Year Notes (04/23)		$109.50	04/07/23	CME		75		$8,212,500		$30,599		$34,570
Call - U.S. Treasury 6-7-Year Notes (04/23)		114.75	04/07/23	CME		142		16,294,500		86,152		95,406
Call - U.S. Treasury Long Bonds (04/23)		130.00	04/07/23	CME		25		3,250,000		25,949		41,406
Call - U.S. Treasury Long Bonds (04/23)		130.50	04/07/23	CME		25		3,262,500		21,262		33,594
Call - U.S. Treasury 5-Year Notes (05/23)		109.50	04/21/23	CME		75		8,212,500		55,794		53,321
Call - U.S. Treasury 5-Year Notes (05/23)		110.25	04/21/23	CME		49		5,402,250		26,975		22,203
Call - U.S. Treasury 5-Year Notes (05/23)		111.00	04/21/23	CME		98		10,878,000		52,388		28,328
Call - U.S. Treasury 5-Year Notes (05/23)		112.50	04/21/23	CME		49		5,512,500		34,538		5,742
Call - U.S. Treasury 10-Year Notes (05/23)		114.75	04/21/23	CME		16		1,836,000		17,278		16,250
Call - U.S. Treasury 10-Year Notes (05/23)		116.75	04/21/23	CME		33		3,852,750		23,526		12,375
Call - U.S. Treasury 10-Year Notes (05/23)		119.00	04/21/23	CME		33		3,927,000		26,354		4,125
Call - U.S. Treasury 30-Year Bonds (05/23)		130.50	04/21/23	CME		8		1,044,000		14,139		16,250
Call - U.S. Treasury 30-Year Bonds (05/23)		134.00	04/21/23	CME		25		3,350,000		26,168		17,969
Call - U.S. Treasury 30-Year Bonds (05/23)		137.00	04/21/23	CME		17		2,329,000		17,561		4,781
										458,683		386,320
Put - U.S. Treasury 6-7-Year Notes (04/23)		114.25	04/07/23	CME		74		8,454,500		37,487		21,969
Put - U.S. Treasury 6-7-Year Notes (04/23)		114.50	04/07/23	CME		59		6,755,500		40,790		22,125
Put - U.S. Treasury 10-Year Notes (05/23)		114.50	04/21/23	CME		17		1,946,500		14,904		12,219
Put - SOFR Midcurve 1-Year (12/23)		95.88	12/15/23	CME		416		99,710,000		374,399		179,400
Put - SOFR Midcurve 1-Year (12/23)		96.00	12/15/23	CME		973		233,520,000		895,443		498,662
										1,363,023		734,375
Total Purchased Options										$1,821,706		$1,120,695

(f) Premiums received and value of written options outstanding as of March 31, 2023 were as follows:

Description	Exercise Price		Expiration Date	Exchange	Number of Contracts		Notional Amount		Premium		Value
Call - GBP FX (04/23)		$122.00	04/06/23	CME		33		$2,516,250		$30,143		($33,206	)
Call - U.S. Treasury 6-7-Year Notes (04/23)		115.00	04/07/23	CME		156		17,940,000		70,683		(85,312	)
Call - U.S. Treasury 6-7-Year Notes (04/23)		115.75	04/07/23	CME		66		7,639,500		14,839		(18,562	)
Call - U.S. Treasury Long Bonds (04/23)		131.00	04/07/23	CME		17		2,227,000		10,189		(18,062	)
Call - U.S. Treasury 5-Year Notes (05/23)		107.00	04/21/23	CME		170		18,190,000		90,019		(431,641	)
Call - U.S. Treasury 5-Year Notes (05/23)		107.50	04/21/23	CME		189		20,317,500		74,978		(392,766	)
Call - U.S. Treasury 5-Year Notes (05/23)		109.00	04/21/23	CME		171		18,639,000		138,642		(164,320	)
Call - U.S. Treasury 5-Year Notes (05/23)		109.75	04/21/23	CME		115		12,621,250		84,254		(70,977	)
Call - U.S. Treasury 5-Year Notes (05/23)		110.00	04/21/23	CME		968		106,480,000		632,927		(514,250	)
Call - U.S. Treasury 10-Year Notes (05/23)		114.00	04/21/23	CME		313		35,682,000		169,068		(449,938	)
Call - U.S. Treasury 10-Year Notes (05/23)		115.00	04/21/23	CME		191		21,965,000		171,357		(173,094	)
Call - U.S. Treasury 10-Year Notes (05/23)		115.50	04/21/23	CME		348		40,194,000		389,773		(244,688	)
Call - U.S. Treasury 10-Year Notes (05/23)		116.00	04/21/23	CME		319		37,004,000		296,245		(174,453	)
Call - U.S. Treasury 10-Year Notes (05/23)		117.00	04/21/23	CME		58		6,786,000		62,884		(19,031	)
Call - U.S. Treasury 30-Year Bonds (05/23)		132.00	04/21/23	CME		8		1,056,000		9,361		(10,625	)
Call - U.S. Treasury 30-Year Bonds (05/23)		132.50	04/21/23	CME		8		1,060,000		10,736		(9,125	)
Call - U.S. Treasury 30-Year Bonds (05/23)		133.00	04/21/23	CME		25		3,325,000		34,722		(24,609	)
Call - U.S. Treasury 10-Year Notes (06/23)		115.00	05/26/23	CME		76		8,740,000		53,900		(109,250	)
										2,344,720		(2,943,909	)
Put - AUD FX (04/23)		69.00	04/06/23	CME		26		1,794,000		25,675		(52,000	)
Put - U.S. Treasury 6-7-Year Notes (04/23)		113.50	04/07/23	CME		86		9,761,000		57,664		(9,406	)
Put - U.S. Treasury 6-7-Year Notes (04/23)		114.00	04/07/23	CME		131		14,934,000		49,648		(28,656	)
Put - U.S. Treasury Long Bonds (04/23)		130.00	04/07/23	CME		19		2,470,000		18,655		(9,500	)
Put - U.S. Treasury 5-Year Notes (05/23)		106.50	04/21/23	CME		390		41,535,000		138,138		(9,141	)
Put - U.S. Treasury 5-Year Notes (05/23)		107.00	04/21/23	CME		249		26,643,000		74,663		(9,727	)
Put - U.S. Treasury 5-Year Notes (05/23)		107.75	04/21/23	CME		263		28,338,250		105,256		(28,766	)
Put - U.S. Treasury 5-Year Notes (05/23)		108.00	04/21/23	CME		66		7,128,000		17,675		(9,797	)
Put - U.S. Treasury 5-Year Notes (05/23)		108.50	04/21/23	CME		1,066		115,661,000		432,359		(283,156	)
Put - U.S. Treasury 5-Year Notes (05/23)		109.00	04/21/23	CME		492		53,628,000		314,790		(222,938	)
Put - U.S. Treasury 5-Year Notes (05/23)		109.25	04/21/23	CME		162		17,698,500		98,446		(92,390	)
Put - U.S. Treasury 5-Year Notes (05/23)		110.00	04/21/23	CME		197		21,670,000		120,526		(201,617	)
Put - U.S. Treasury 10-Year Notes (05/23)		111.50	04/21/23	CME		3		334,500		1,979		(234	)
Put - U.S. Treasury 10-Year Notes (05/23)		112.50	04/21/23	CME		190		21,375,000		113,968		(29,687	)
Put - U.S. Treasury 10-Year Notes (05/23)		113.00	04/21/23	CME		246		27,798,000		133,590		(61,500	)
Put - U.S. Treasury 10-Year Notes (05/23)		114.00	04/21/23	CME		974		111,036,000		664,206		(502,219	)
Put - U.S. Treasury 10-Year Notes (05/23)		115.00	04/21/23	CME		69		7,935,000		48,834		(67,922	)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

22

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited

Description	Exercise Price		Expiration Date		Exchange		Number of Contracts		Notional Amount		Premium		Value
Put - U.S. Treasury 10-Year Notes (05/23)		$117.00		04/21/23		CME		98		$11,466,000		$151,424		($235,813	)
Put - U.S. Treasury 30-Year Bonds (05/23)		129.00		04/21/23		CME		33		4,257,000		47,130		(26,297	)
Put - U.S. Treasury 30-Year Bonds (05/23)		130.00		04/21/23		CME		100		13,000,000		163,264		(115,625	)
Put - SOFR Midcurve 1-Year (12/23)		95.25		12/15/23		CME		832		198,120,000		331,053		(150,800	)
Put - SOFR Midcurve 1-Year (12/23)		95.38		12/15/23		CME		1,946		463,999,375		812,326		(413,525	)
												3,921,269		(2,560,716	)
Total Written Options												$6,265,989		($5,504,625	)

(g) Swap agreements outstanding as of March 31, 2023 were as follows:

Credit Default Swaps on Corporate Issues – Sell Protection (1)

Referenced Obligation	Payment Frequency	Fixed Deal Receive Rate		Expiration Date		Exchange		Implied Credit Spread at 03/31/23 (2)		Notional Amount (3)		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Apache Corp.	Q		1.000%		06/20/26		ICE		1.334%		$3,337,000		($31,997	)		($165,771	)		$133,774
Apache Corp.	Q		1.000%		12/20/26		ICE		1.523%		8,446,000		(146,602	)		(247,245	)		100,643
													($178,599	)		($413,016	)		$234,417

Credit Default Swaps on Credit Indices – Buy Protection (4)

Referenced Obligation

Payment Frequency

Fixed Deal Pay Rate

Expiration Date

Exchange

Notional Amount (3)

Value (5)

Upfront Premiums Paid (Received)

Unrealized Appreciation (Depreciation)

CDX HY40 5Y

Q

5.000%

06/20/28

ICE

$27,410,600

($423,666

)

$83,094

($506,760

)

Credit Default Swaps on Credit Indices – Sell Protection (1)

Referenced Obligation

Payment Frequency

Fixed Deal Receive Rate

Expiration Date

Exchange

Notional Amount (3)

Value (5)

Upfront Premiums Paid (Received)

Unrealized Appreciation (Depreciation)

CDX IG40 5Y

Q

1.000%

06/20/28

ICE

$330,028,000

$3,778,978

$2,634,079

$1,144,899

Total Credit Default Swaps

$3,176,713

$2,304,157

$872,556

(1) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying investments comprising the referenced index or (ii) pay a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.

(2) An implied credit spread is the spread in yield between a U.S. Treasury security and the referenced obligation or underlying investment that are identical in all respects except for the quality rating. Implied credit spreads, represented in the absolute terms, utilized in determining the value of credit default swaps on corporate issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter the agreement. Wider credit spreads, in comparison to narrower credit spreads, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

(3) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.

(5) The quoted market prices and resulting values for credit default swap agreements on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of period end. Increasing values (buy protection) or decreasing values (sell protection), when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

Interest Rate Swaps – Long

Receive	Pay	Payment Frequency Receive Rate/ Pay Rate	Exchange	Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
7.450%	28-Day MXN TIIE	L/L	CME		07/18/29		MXN 331,270,000		($936,985	)		$231,686			($1,168,671	)
7.440%	28-Day MXN TIIE	L/L	CME		07/20/29		594,730,000		(1,692,471	)		303,481			(1,995,952	)
3.400%	1-Day U.S. SOFR	A/A	CME		12/31/29		$34,337,000		423,504			69,092			354,412
3.250%	1-Day U.S. SOFR	A/A	CME		12/31/29		52,478,000		193,766			(312,677	)		506,443
									($2,012,186	)		$291,582			($2,303,768	)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

23

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited

Interest Rate Swaps – Short

Pay	Receive	Payment Frequency Pay Rate/ Receive Rate		Exchange		Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
1.220%	1-Day U.S. SOFR		A/A		CME		08/15/28		$34,412,000		$4,121,553			($2,220	)		$4,123,773
1.130%	1-Day U.S. SOFR		A/A		CME		08/15/28		26,145,000		3,260,650			120,805			3,139,845
2.850%	1-Day U.S. SOFR		A/A		CME		02/15/29		27,350,000		729,547			76,992			652,555
3.270%	1-Day U.S. SOFR		A/A		CME		04/30/29		57,973,000		398,854			(416,157	)		815,011
3.850%	1-Day U.S. SOFR		A/A		CME		06/30/29		51,410,000		(1,481,534	)		41,575			(1,523,109	)
2.000%	1-Day U.S. SOFR		A/A		CME		03/18/32		16,189,000		1,523,393			131,224			1,392,169
0.641%	1-Day JPY-TONAR		S/S		CME		05/09/46		JPY 2,649,800,000		1,594,716			3,542			1,591,174
1.520%	1-Day U.S. SOFR		A/A		CME		02/15/47		$16,888,000		4,476,542			(10,812	)		4,487,354
1.729%	1-Day U.S. SOFR		A/A		CME		02/15/47		10,330,000		2,373,682			255,989			2,117,693
1.630%	1-Day U.S. SOFR		A/A		CME		05/15/47		10,060,000		2,574,092			406,526			2,167,566
1.650%	1-Day U.S. SOFR		A/A		CME		08/15/47		4,402,000		1,117,576			442,539			675,037
2.510%	1-Day U.S. SOFR		A/A		CME		02/15/48		10,389,000		1,014,261			68,167			946,094
2.620%	1-Day U.S. SOFR		A/A		CME		02/15/48		11,765,000		924,642			(7,178	)		931,820
3.050%	1-Day U.S. SOFR		A/A		CME		02/15/48		12,094,000		51,110			372,814			(321,704	)
3.150%	1-Day U.S. SOFR		A/A		CME		05/15/48		20,787,000		(331,457	)		(6,691,057	)		6,359,600
2.500%	1-Day U.S. SOFR		A/A		CME		04/21/52		5,275,000		500,805			20,336			480,469
											$22,848,432			($5,186,915	)		$28,035,347
Total Interest Rate Swaps											$20,836,246			($4,895,333	)		$25,731,579
Total Swap Agreements											$24,012,959			($2,591,176	)		$26,604,135

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

24

PACIFIC SELECT FUND

DIVERSIFIED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited

(h) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023			Level 1 Quoted Price			Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Assets	Corporate Bonds & Notes		$822,016,902			$-			$822,016,902			$-
	Senior Loan Notes		64,668,124			-			63,141,247			1,526,877
	Mortgage-Backed Securities		780,747,174			-			780,747,174			-
	Asset-Backed Securities		61,512,325			-			61,512,325			-
	U.S. Treasury Obligations		202,726,678			-			202,726,678			-
	Foreign Government Bonds & Notes		136,147,196			-			136,147,196			-
	Short-Term Investment		17,057,280			-			17,057,280			-
	Derivatives:
	Credit Contracts
	Swaps		1,379,316			-			1,379,316			-
	Foreign Currency Contracts											-
	Futures		3,115,251			3,115,251			-			-
	Forward Foreign Currency Contracts		895,495			-			895,495			-
	Total Foreign Currency Contracts		4,010,746			3,115,251			895,495			-
	Interest Rate Contracts
	Futures		28,340,991			28,340,991			-			-
	Purchased Options		1,120,695			-			1,120,695			-
	Swaps		30,741,015			-			30,741,015			-
	Total Interest Rate Contracts		60,202,701			28,340,991			31,861,710			-
	Total Asset - Derivatives		65,592,763			31,456,242			34,136,521			-
	Total Assets		2,150,468,442			31,456,242			2,117,485,323			1,526,877
Liabilities	Due to Custodian		(5,365,345	)		-			(5,365,345	)		-
	Derivatives:
	Credit Contracts
	Swaps		(506,760	)		-			(506,760	)		-
	Foreign Currency Contracts
	Futures		(320,014	)		(320,014	)		-			-
	Forward Foreign Currency Contracts		(8,912,811	)		-			(8,912,811	)		-
	Written Options		(85,206	)		-			(85,206	)		-
	Total Foreign Currency Contracts		(9,318,031	)		(320,014	)		(8,998,017	)		-
	Interest Rate Contracts
	Futures		(18,967,573	)		(18,967,573	)		-			-
	Written Options		(5,419,419	)		-			(5,419,419	)		-
	Swaps		(5,009,436	)		-			(5,009,436	)		-
	Total Interest Rate Contracts		(29,396,428	)		(18,967,573	)		(10,428,855	)		-
	Total Liabilities - Derivatives		(39,221,219	)		(19,287,587	)		(19,933,632	)		-
	Total Liabilities		(44,586,564	)		(19,287,587	)		(25,298,977	)		-
	Total		$2,105,881,878			$12,168,655			$2,092,186,346			$1,526,877

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

25

PACIFIC SELECT FUND

FLOATING RATE INCOME PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 3.2%
Invesco Senior Loan ETF		245,340		$5,103,072
SPDR Bloomberg Short Term High Yield Bond		206,570		5,131,199
				10,234,271
Total Exchange-Traded Funds (Cost $10,008,770)				10,234,271
	Principal Amount
CORPORATE BONDS & NOTES - 9.8%
Consumer, Cyclical - 2.9%
American Airlines, Inc. 11.750% due 07/15/25 ~		$4,000,000		4,380,200
Carnival Corp. 9.875% due 08/01/27 ~		1,500,000		1,546,530
Merlin Entertainments Ltd. (United Kingdom) 5.750% due 06/15/26 ~		3,287,000		3,121,501
				9,048,231
Consumer, Non-Cyclical - 1.7%
Allied Universal Holdco LLC/Allied Universal Finance Corp. 6.625% due 07/15/26 ~		2,000,000		1,924,000
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL 4.625% due 06/01/28 ~		3,000,000		2,521,405
CoreLogic, Inc. 4.500% due 05/01/28 ~		1,250,000		949,606
				5,395,011
Financial - 5.0%
Acrisure LLC/Acrisure Finance, Inc. 7.000% due 11/15/25 ~		2,000,000		1,876,390
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer 6.750% due 04/15/28 ~		2,000,000		1,979,560
AssuredPartners, Inc. 7.000% due 08/15/25 ~		7,450,000		7,255,928
HUB International Ltd. 7.000% due 05/01/26 ~		2,750,000		2,705,389
Ryan Specialty Group LLC 4.375% due 02/01/30 ~		2,250,000		1,970,162
				15,787,429
Technology - 0.2%
Central Parent, Inc./CDK Global, Inc. 7.250% due 06/15/29 ~		500,000		491,889
Total Corporate Bonds & Notes (Cost $32,119,613)				30,722,560
SENIOR LOAN NOTES - 84.3%
Basic Materials - 2.9%
Diamond BV Term B 7.575% (USD LIBOR + 2.750%) due 09/29/28 § µ		2,992,424		2,984,009
Lonza Group AG Term B 9.159% (USD LIBOR + 4.000%) due 07/03/28 §		1,915,601		1,783,105
PMHC II, Inc. Term B 9.076% (SOFR + 4.250%) due 04/23/29 §		1,877,782		1,666,531

	Principal Amount		Value
Starfruit Finco BV Term B 7.526% (USD LIBOR + 2.750%) due 10/01/25 § µ		$ 1,993,218		$ 1,981,295
Vantage Specialty Chemicals, Inc. Term B 9.857% (SOFR + 4.750%) due 10/26/26 §		748,125		722,253
				9,137,193
Communications - 5.7%
Arches Buyer, Inc. Term B 8.157% (SOFR + 3.250%) due 12/06/27 § µ		3,619,524		3,423,845
CNT Holdings I Corp. (2nd Lien) 11.375% (USD LIBOR + 6.750%) due 11/06/28 § ±		6,620,000		6,272,450
Hunter Holdco 3 Ltd. Term B 9.409% (USD LIBOR + 4.250%) due 08/19/28 §		935,469		920,267
MH Sub I LLC (1st Lien) 8.590% (USD LIBOR + 3.750%) due 09/13/24 § µ		3,490,802		3,438,153
Pug LLC Term B 8.340% (USD LIBOR + 3.500%) due 02/12/27 §		4,143,050		3,024,426
PUG LLC Term B 9.090% (USD LIBOR + 4.250%) due 02/12/27 §		806,392		593,706
Xplornet Communications, Inc. (2nd Lien) (Canada) 11.840% (USD LIBOR + 7.000%) due 10/01/29 § ±		500,000		325,000
				17,997,847
Consumer, Cyclical - 10.4%
BCPE Empire Holdings, Inc.
8.840% (USD LIBOR + 4.000%) due 06/11/26 §		1,231,289		1,209,742
9.532% (SOFR + 4.625%) due 06/11/26 §		294,244		291,596
Term B 8.840% (USD LIBOR + 4.000%) due 06/11/26 §		1,734,067		1,705,348
Caesars Entertainment Corp. Term B 8.157% (SOFR + 3.250%) due 02/06/30 § µ		2,500,000		2,490,625
Carnival Corp.
Term B 7.840% (USD LIBOR + 3.000%) due 06/30/25 §		3,872,846		3,830,244
8.090% (USD LIBOR + 3.250%) due 10/18/28 §		1,835,354		1,797,499
ClubCorp Holdings, Inc. Term B 7.590% (USD LIBOR + 2.750%) due 09/18/24 §		8,532,864		8,178,221
Fertitta Entertainment LLC Term B 8.807% (SOFR + 4.000%) due 01/27/29 § µ		3,459,898		3,413,404
SeaWorld Parks & Entertainment, Inc. Term B 7.875% (USD LIBOR + 3.000%) due 08/25/28 § µ		1,994,937		1,989,949
Solis IV BV Term B1 (Netherlands) 8.373% (SOFR + 3.500%) due 02/26/29 § µ		2,113,676		1,911,292
Springs Windows Fashions LLC Term B 8.752% (USD LIBOR + 4.000%) due 10/06/28 § µ		1,702,576		1,445,061
SRS Distribution, Inc. Term B 8.340% (USD LIBOR + 3.500%) due 06/02/28 § µ		4,853,520		4,689,714
				32,952,695

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

26

PACIFIC SELECT FUND

FLOATING RATE INCOME PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Consumer, Non - Cyclical - 18.1%
Allied Universal Holdco LLC/Allied Universal Finance Corp. Term B 8.657% (SOFR + 3.750%) due 05/12/28 §		$ 2,541,964		$ 2,416,454
CoreLogic, Inc.
(2nd Lien) 11.375% (USD LIBOR + 6.500%) due 06/04/29 §		4,000,000		2,987,500
Term B 8.375% (USD LIBOR + 3.500%) due 06/02/28 §		422,627		361,611
Da Vinci Purchaser Corp. Term B 8.953% (USD LIBOR + 4.000%) due 01/08/27 §		1		1
Gainwell Acquisition Corp. Term B 8.998% (SOFR + 4.000%) due 10/01/27 § µ		3,209,369		3,058,930
Heartland Dental LLC (1st Lien) 8.590% (USD LIBOR + 3.750%) due 04/30/25 §		1,727,437		1,618,751
Mavis Tire Express Services Corp. Term B 8.922% (SOFR + 4.000%) due 05/04/28 §		3,267,549		3,211,900
Midwest Veterinary Partners LLC 8.840% (USD LIBOR + 4.000%) due 04/27/28 §		6,628,569		6,142,476
Packaging Coordinators Midco, Inc. (1st Lien) 8.659% (USD LIBOR + 3.500%) due 11/30/27 §		2,170,637		2,127,767
Pathway Vet Alliance LLC Term B 8.590% (USD LIBOR + 3.750%) due 03/31/27 §		8,050,611		7,091,727
PECF USS Intermediate Holding III Corp. Term B 9.090% (USD LIBOR + 4.250%) due 12/15/28 §		1,234,375		1,044,590
PetVet Care Centers LLC Term B3
(2nd Lien) 11.090% (USD LIBOR + 6.250%) due 02/13/26 §		5,000,000		4,483,335
Term B 8.090% (USD LIBOR + 3.250%) due 02/14/25 §		1,353,043		1,304,417
Term B3 8.340% (USD LIBOR + 3.500%) due 02/14/25 §		3,491,193		3,393,003
Spin Holdco, Inc. Term B 8.986% (USD LIBOR + 4.000%) due 03/04/28 §		3,143,396		2,654,205
Sunshine Luxembourg VII SARL Term B3 (Luxembourg) 8.909% (USD LIBOR + 3.750%) due 10/01/26 § µ		6,714,960		6,659,199
Team Health Holdings, Inc. Term B 10.057% (SOFR + 5.250%) due 03/02/27 §		3,998,816		2,792,505
Verscend Holding Corp. Term B 8.840% (USD LIBOR + 4.000%) due 08/27/25 § µ		5,984,772		5,987,016
				57,335,387
Financial - 11.1%
Acrisure LLC Term B 9.090% (USD LIBOR + 4.250%) due 02/15/27 § µ		5,674,965		5,578,020

	Principal Amount		Value
Apex Group Treasury LLC
Term B 8.556% (USD LIBOR + 3.750%) due 07/27/28 § µ		$ 3,989,873		$ 3,880,152
9.658% (SOFR + 5.000%) due 07/27/28 § µ		2,500		2,494
AssuredPartners, Inc. Term B 8.340% (USD LIBOR + 3.500%) due 02/12/27 §		3,352,254		3,324,969
Deerfield Dakota Holding LLC (2nd Lien) 11.909% (USD LIBOR + 6.750%) due 04/07/28 §		10,460,000		9,682,038
HUB International Ltd.
Term B 7.818% (USD LIBOR + 3.000%) due 04/25/25 § µ		5,984,293		5,974,431
8.692% (SOFR + 4.000%) due 11/10/29 § µ		845,344		844,522
Term B3 8.058% (USD LIBOR + 3.250%) due 04/25/25 §		1,994,898		1,993,340
Hyperion Refinance Sarl Term B (United Kingdom) 8.806% (SOFR+4.000%) due 03/24/30 § ±		750,000		746,250
USI, Inc. Term B 8.648% (SOFR + 3.750%) due 11/22/29 § µ		3,241,855		3,237,802
				35,264,018
Industrial – 16.0%
ASP LS Acquisition Corp 9.659% (USD LIBOR + 4.500%) due 05/07/28 § µ		2,575,887		2,224,922
Charter NEX US, Inc. 8.672% (SOFR + 3.750%) due 12/01/27 §		3,000,000		2,968,125
Crosby US Acquisition Corp. 9.751% (SOFR + 5.000%) due 06/27/26 § ±		500,000		485,000
Term B 9.601% (SOFR + 4.750%) due 06/26/26 § µ		748,057		725,148
Dynasty Acquisition Co., Inc.
Term B1 8.407% (SOFR + 3.500%) due 04/06/26 § µ		2,594,677		2,543,964
Term B2 8.407% (SOFR + 3.500%) due 04/06/26 § µ		1,394,987		1,367,722
Engineered Components & Systems LLC Term B 10.709% (USD LIBOR + 6.000%) due 08/02/28 § ±		578,535		535,145
Filtration Group Corp. (1st Lien) 7.840% (USD LIBOR + 3.000%) due 03/29/25 § µ		1,994,537		1,992,044
Flynn Canada Term B (Canada) 9.375% (USD LIBOR + 4.500%) due 07/31/28 § ±		633,343		595,343
KKR Apple Bidco LLC 7.590% (USD LIBOR + 2.750%) due 09/23/28 §		997,475		988,902
LABL, Inc. (1st Lien) 9.840% (USD LIBOR + 5.000%) due 10/29/28 § µ		3,783,350		3,669,589
LTI Holdings, Inc. (1st Lien) 8.340% (USD LIBOR + 3.500%) due 09/06/25 § µ		3,161,707		3,055,986

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

27

PACIFIC SELECT FUND

FLOATING RATE INCOME PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Pretium PKG Holdings, Inc.
(1st Lien) 7.743% (USD LIBOR + 4.000%) due 10/02/28 §		$ 1,341,604		$ 1,065,138
(2nd Lien) 11.538% (USD LIBOR + 6.750%) due 10/01/29 §		1,250,000		802,735
Pro Mach Group, Inc. Term B 8.840% (USD LIBOR + 4.000%) due 08/31/28 §		1,689,829		1,684,549
Proampac PG Borrower LLC Term B 7.829% (USD LIBOR + 3.750%) due 11/03/25 § µ		3,987,418		3,917,638
Roper Industrial Products Investment Co. LLC 8.927% (SOFR + 4.500%) due 11/22/29 §		4,500,000		4,473,000
SPX FLOW, Inc. Term B 7.634% (SOFR + 4.500%) due 04/05/29 §		4,426,671		4,244,071
Star US Bidco LLC Term B 9.090% (USD LIBOR + 4.250%) due 03/17/27 §		2,674,913		2,599,681
Titan Acquisition Ltd. Term B (Canada) 8.151% (USD LIBOR + 3.000%) due 03/28/25 § µ		1,496,063		1,422,819
TransDigm, Inc.
Term H 8.148% (SOFR + 3.250%) due 02/22/27 § µ		6,241,902		6,255,947
Term I 7.825% (SOFR + 3.250%) due 08/24/28 § µ		2,000,000		1,997,362
WP CPP Holdings LLC Term B 8.575% (USD LIBOR + 3.750%) due 04/30/25 §		1,175,103		1,076,100
				50,690,930
Technology - 20.1%
Applied Systems, Inc.
(1st Lien) 9.398% (SOFR + 4.500%) due 09/18/26 §		2,866,075		2,865,479
(2nd Lien) 11.648% (SOFR + 6.750%) due 09/17/27 §		3,653,223		3,666,922
AthenaHealth Group, Inc.
Term B 8.160% (SOFR + 3.500%) due 02/15/29 § f		109,162		101,794
8.259% (SOFR + 3.500%) due 02/15/29 § µ		888,599		828,619
Azalea Topco Inc. Term B 8.340% (USD LIBOR + 3.500%) due 07/24/26 § µ		249,354		233,665
Central Parent Inc. Term B 9.148% (SOFR + 4.250%) due 07/06/29 § µ		1,496,250		1,494,513
Epicor Software Corp. (2nd Lien) 12.590% (USD LIBOR + 7.750%) due 07/31/28 §		10,002,673		9,977,667
Finastra USA, Inc. (1st Lien) 8.325% (USD LIBOR + 3.500%) due 06/13/24 §		4,796,325		4,513,543
Peraton Corp
(2nd Lien) 12.651% (USD LIBOR + 7.750%) due 02/01/29 §		1,241,617		1,207,472
Term B 8.590% (USD LIBOR + 3.750%) due 02/01/28 §		2,198,387		2,172,556

	Principal Amount		Value
Polaris Newco LLC Term B 9.159% (USD LIBOR + 4.000%) due 06/02/28 §		$ 5,862,122		$ 5,360,910
RealPage, Inc. (2nd Lien) 11.340% (USD LIBOR + 6.500%) due 04/23/29 §		13,575,549		12,854,348
Sophia LP (2nd Lien) 13.159% (USD LIBOR + 8.000%) due 10/09/28 §		4,750,000		4,732,188
Sovos Compliance LLC Term B 9.340% (USD LIBOR + 4.500%) due 08/11/28 §		5,383,223		5,107,332
Tempo Acquisition LLC Term B 7.807% (SOFR + 3.000%) due 08/31/28 § µ		2,992,424		2,992,798
UKG, Inc.
8.271% (USD LIBOR + 3.250%) due 05/04/26 § µ		2,817,669		2,749,239
Term B 8.575% (USD LIBOR + 3.750%) due 05/04/26 § µ		1,465,650		1,430,841
Ultimate Software Group, Inc. (2nd Lien) 10.473% (USD LIBOR + 5.250%) due 05/03/27 §		1,750,000		1,688,750
				63,978,636
Total Senior Loan Notes (Cost $276,077,613)				267,356,706
SHORT-TERM INVESTMENT - 6.2%
Repurchase Agreement - 6.2%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $19,756,675; collateralized by U.S. Treasury Notes: 2.875% due 06/15/2025 and value $20,144,397)		19,749,351		19,749,351
Total Short-Term Investment (Cost $19,749,351)				19,749,351
TOTAL INVESTMENTS - 103.5% (Cost $337,955,347)				328,062,888
OTHER ASSETS & LIABILITIES, NET - (3.5%)				(10,950,681	)
NET ASSETS - 100.0%				$317,112,207

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

28

PACIFIC SELECT FUND

FLOATING RATE INCOME PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Exchange-Traded Funds		$10,234,271		$10,234,271		$-		$-
	Corporate Bonds & Notes		30,722,560		-		30,722,560		-
	Senior Loan Notes		267,356,706		-		258,397,518		8,959,188
	Short-Term Investment		19,749,351		-		19,749,351		-
	Total		$328,062,888		$10,234,271		$308,869,429		$8,959,188

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

29

PACIFIC SELECT FUND

FLOATING RATE INCOME PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

The following is a reconciliation of investments for significant unobservable inputs (Level 3) used in valuing the Fund’s assets and liabilities for the period ended March 31, 2023:

	Senior Loan Notes
Value, Beginning of Period		$33,014,103
Purchases		1,150,000
Sales (Includes Paydowns)		(24,384,999	)
Accrued Discounts (Premiums)		24,174
Net Realized Gains (Losses)		(614,527	)
Change in Net Unrealized Appreciation (Depreciation)		1,154,437
Transfers In		6,272,450
Transfers Out		(7,656,450	)
Value, End of Period		$8,959,188
Change in Net Unrealized Appreciation (Depreciation) on Level 3 Investments Held at the End of Period, if Applicable		$216,159

The table below shows transfers to/from Level 3:

Amount		Level Transfer				Change in Fair Valuation Measurement Inputs
Transferred		From		To		From	To
	$6,272,450		2		3	Vendor Price (Observable Inputs)	Unobservable Single Broker Quote
	7,656,450		3		2	Unobservable Single Broker Quote	Vendor Price (Observable Inputs)

All other significant unobservable inputs used to value Senior Loan Notes with the aggregate value of $8,959,188 were provided by a single broker quote. Significant changes to a single broker quote would have direct and proportional changes to the fair value of the security.

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

30

PACIFIC SELECT FUND

HIGH YIELD BOND PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 0.0%
Industrial - 0.0%
TNT Crane & Rigging, Inc. *		11,518		$92,144
Total Common Stocks (Cost $4,391,414)				92,144
	Principal Amount
CORPORATE BONDS & NOTES - 87.0%
Basic Materials - 5.5%
Constellium SE
5.625% due 06/15/28 ~		$1,250,000		1,181,545
5.875% due 02/15/26 ~		292,000		292,584
Hecla Mining Co. 7.250% due 02/15/28		6,550,000		6,623,393
Herens Holdco SARL (Luxembourg) 4.750% due 05/15/28 ~		5,975,000		4,816,238
INEOS Quattro Finance 2 PLC (United Kingdom) 3.375% due 01/15/26 ~		4,600,000		4,174,136
JW Aluminum Continuous Cast Co. 10.250% due 06/01/26 ~		1,250,000		1,257,994
Novelis Corp.
3.875% due 08/15/31 ~		2,925,000		2,467,881
4.750% due 01/30/30 ~		4,333,000		3,986,360
Perenti Finance Pty Ltd. (Australia) 6.500% due 10/07/25 ~		3,550,000		3,447,938
South32 Treasury Ltd. (Australia) 4.350% due 04/14/32 ~		4,500,000		4,016,606
SPCM SA (France) 3.375% due 03/15/30 ~		5,250,000		4,336,950
TMS International Corp. 6.250% due 04/15/29 ~		6,925,000		5,347,010
				41,948,635
Communications - 12.2%
CCO Holdings LLC/CCO Holdings Capital Corp.
4.250% due 02/01/31 ~		1,850,000		1,514,836
4.250% due 01/15/34 ~		1,450,000		1,135,618
4.750% due 03/01/30 ~		8,400,000		7,287,000
5.000% due 02/01/28 ~		675,000		623,508
5.375% due 06/01/29 ~		11,700,000		10,756,161
6.375% due 09/01/29 ~		2,225,000		2,126,878
Ciena Corp. 4.000% due 01/31/30 ~		4,200,000		3,657,780
Clear Channel Outdoor Holdings, Inc.
5.125% due 08/15/27 ~		4,450,000		3,998,503
7.750% due 04/15/28 ~		275,000		206,498
Cogent Communications Group, Inc. 7.000% due 06/15/27 ~		2,675,000		2,654,670
CommScope Technologies LLC 6.000% due 06/15/25 ~		5,521,000		5,204,845
CommScope, Inc.
4.750% due 09/01/29 ~		1,025,000		855,363
8.250% due 03/01/27 ~		700,000		574,000
CSC Holdings LLC
3.375% due 02/15/31 ~		3,300,000		2,285,910
4.625% due 12/01/30 ~		2,400,000		1,185,720
5.250% due 06/01/24		1,100,000		1,062,754
5.375% due 02/01/28 ~		650,000		533,134
5.750% due 01/15/30 ~		2,300,000		1,213,250
6.500% due 02/01/29 ~		6,550,000		5,445,785
7.500% due 04/01/28 ~		625,000		399,000

	Principal Amount		Value
DISH Network Corp. 11.750% due 11/15/27 ~		$ 8,425,000		$ 8,181,138
Frontier Communications Holdings LLC
5.000% due 05/01/28 ~		2,250,000		1,954,980
5.875% due 10/15/27 ~		1,175,000		1,069,250
8.625% due 03/15/31 ~		2,400,000		2,352,684
Level 3 Financing, Inc.
3.625% due 01/15/29 ~		1,925,000		1,066,373
3.750% due 07/15/29 ~		575,000		307,320
4.625% due 09/15/27 ~		6,650,000		4,004,297
10.500% due 05/15/30		577,500		552,234
Lumen Technologies, Inc. 4.000% due 02/15/27 ~		4,000,000		2,643,660
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.250% due 01/15/29 ~		1,250,000		1,038,906
5.000% due 08/15/27 ~		4,725,000		4,261,666
Sirius XM Radio, Inc. 3.875% due 09/01/31 ~		2,425,000		1,887,826
Sprint Capital Corp. 8.750% due 03/15/32		3,500,000		4,264,960
Uber Technologies, Inc. 8.000% due 11/01/26 ~		6,075,000		6,234,165
				92,540,672
Consumer, Cyclical - 17.8%
American Airlines Pass-Through Trust Class B
3.950% due 07/11/30		1,400,985		1,232,904
5.250% due 01/15/24		2,314,858		2,267,493
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.750% due 04/20/29 ~		3,170,000		3,044,154
Aramark Services, Inc. 6.375% due 05/01/25 ~		5,935,000		5,984,023
Boyd Gaming Corp. 4.750% due 06/15/31 ~		6,363,000		5,784,603
Caesars Entertainment, Inc. 8.125% due 07/01/27 ~		6,275,000		6,406,147
Cedar Fair LP 5.250% due 07/15/29		6,250,000		5,833,719
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./ Millennium Op 6.500% due 10/01/28		1,775,000		1,724,164
Clarios Global LP/Clarios US Finance Co.
6.250% due 05/15/26 ~		1,350,000		1,348,157
8.500% due 05/15/27 ~		1,175,000		1,181,609
Empire Resorts, Inc. 7.750% due 11/01/26 ~		1,100,000		911,379
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.
4.625% due 01/15/29 ~		2,450,000		2,153,183
6.750% due 01/15/30 ~		3,650,000		3,006,250
Ford Motor Co.
3.250% due 02/12/32		11,400,000		8,975,979
4.750% due 01/15/43		2,500,000		1,920,550
6.100% due 08/19/32		1,625,000		1,576,999
Ford Motor Credit Co. LLC
3.375% due 11/13/25		600,000		563,169
4.950% due 05/28/27		1,200,000		1,146,360
Foundation Building Materials, Inc. 6.000% due 03/01/29 ~		4,400,000		3,493,325
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc
4.875% due 07/01/31 ~		3,675,000		3,141,794
5.000% due 06/01/29 ~		2,775,000		2,467,711
Jacobs Entertainment, Inc. 6.750% due 02/15/29 ~		4,950,000		4,329,322
Las Vegas Sands Corp. 3.900% due 08/08/29		4,950,000		4,472,969
LBM Acquisition LLC 6.250% due 01/15/29 ~		3,825,000		2,931,845

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

31

PACIFIC SELECT FUND

HIGH YIELD BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
LGI Homes, Inc. 4.000% due 07/15/29 ~		$ 6,550,000		$ 5,328,360
MajorDrive Holdings IV LLC 6.375% due 06/01/29 ~		6,918,000		5,131,491
Marriott Ownership Resorts, Inc.
4.500% due 06/15/29 ~		2,350,000		2,002,976
4.750% due 01/15/28		4,450,000		3,982,261
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp. 4.875% due 05/01/29 ~		5,250,000		4,570,013
New Red Finance, Inc. (Canada)
3.500% due 02/15/29 ~		2,700,000		2,419,983
3.875% due 01/15/28 ~		900,000		837,873
4.000% due 10/15/30 ~		8,150,000		6,995,960
4.375% due 01/15/28 ~		2,700,000		2,495,232
NMG Holding Co., Inc./Neiman Marcus Group LLC 7.125% due 04/01/26 ~		2,475,000		2,325,931
PetSmart, Inc./PetSmart Finance Corp. 4.750% due 02/15/28 ~		750,000		704,738
Royal Caribbean Cruises Ltd.
7.250% due 01/15/30 ~		925,000		931,614
9.250% due 01/15/29 ~		2,675,000		2,844,769
11.625% due 08/15/27 ~		900,000		967,500
Scientific Games International, Inc. 7.000% due 05/15/28 ~		1,350,000		1,337,816
SeaWorld Parks & Entertainment, Inc. 5.250% due 08/15/29 ~		5,700,000		5,151,261
Six Flags Entertainment Corp.
4.875% due 07/31/24 ~		3,000,000		2,957,827
5.500% due 04/15/27 ~		1,125,000		1,091,644
STL Holding Co. LLC 7.500% due 02/15/26 ~		4,400,000		3,869,008
Viking Cruises Ltd.
6.250% due 05/15/25 ~		1,245,000		1,170,852
7.000% due 02/15/29 ~		1,775,000		1,524,281
Viking Ocean Cruises Ship VII Ltd. 5.625% due 02/15/29 ~		275,000		236,328
				134,775,526
Consumer, Non-Cyclical - 14.6%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC
3.500% due 03/15/29 ~		1,350,000		1,175,896
4.625% due 01/15/27 ~		550,000		532,455
5.875% due 02/15/28 ~		8,375,000		8,332,287
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.000% due 06/01/29 ~		1,250,000		934,506
6.625% due 07/15/26 ~		250,000		240,500
9.750% due 07/15/27 ~		10,200,000		9,100,950
Avantor Funding, Inc.
3.875% due 11/01/29 ~		500,000		447,960
4.625% due 07/15/28 ~		3,975,000		3,769,930
Bausch Health Cos., Inc.
4.875% due 06/01/28 ~		4,275,000		2,526,097
6.125% due 02/01/27 ~		550,000		356,521
11.000% due 09/30/28 ~		2,787,000		2,064,721
Central Garden & Pet Co. 4.125% due 04/30/31 ~		4,925,000		4,257,515
Charles River Laboratories International, Inc.
3.750% due 03/15/29 ~		825,000		733,142
4.000% due 03/15/31 ~		3,100,000		2,715,272
4.250% due 05/01/28 ~		3,350,000		3,139,285
CHS/Community Health Systems, Inc.
4.750% due 02/15/31 ~		1,305,000		964,787
5.250% due 05/15/30 ~		450,000		353,408
5.625% due 03/15/27 ~		3,100,000		2,724,714
6.125% due 04/01/30 ~		1,050,000		633,707
CoreLogic, Inc. 4.500% due 05/01/28 ~		4,500,000		3,418,582
Garda World Security Corp. (Canada)
6.000% due 06/01/29 ~		1,100,000		875,914

	Principal Amount		Value
9.500% due 11/01/27 ~		$ 3,117,000		$ 2,960,433
Hertz Corp. 5.000% due 12/01/29 ~		4,450,000		3,690,563
Lamb Weston Holdings, Inc.
4.125% due 01/31/30 ~		1,325,000		1,213,627
4.375% due 01/31/32 ~		4,250,000		3,858,183
Medline Borrower LP 3.875% due 04/01/29 ~		1,975,000		1,715,603
MPH Acquisition Holdings LLC
5.500% due 09/01/28 ~		975,000		776,051
5.750% due 11/01/28 ~		5,550,000		3,998,297
Option Care Health, Inc. 4.375% due 10/31/29 ~		4,350,000		3,846,334
PECF USS Intermediate Holding III Corp. 8.000% due 11/15/29 ~		4,800,000		3,193,416
Performance Food Group, Inc. 4.250% due 08/01/29 ~		6,475,000		5,821,395
Pilgrim’s Pride Corp. 4.250% due 04/15/31		2,800,000		2,472,330
Post Holdings, Inc. 4.625% due 04/15/30 ~		6,600,000		5,921,190
Select Medical Corp. 6.250% due 08/15/26 ~		6,550,000		6,360,083
Tenet Healthcare Corp.
4.250% due 06/01/29		1,525,000		1,381,055
4.375% due 01/15/30		1,950,000		1,751,880
4.625% due 06/15/28		675,000		623,420
6.125% due 10/01/28		4,075,000		3,909,331
6.125% due 06/15/30 ~		575,000		567,755
6.250% due 02/01/27		1,275,000		1,255,238
US Foods, Inc. 4.625% due 06/01/30 ~		6,850,000		6,185,804
				110,800,137
Energy - 10.8%
Antero Midstream Partners LP/Antero Midstream Finance Corp. 5.375% due 06/15/29 ~		6,600,000		6,219,250
Antero Resources Corp.
5.375% due 03/01/30 ~		2,550,000		2,375,006
7.625% due 02/01/29 ~		1,961,000		2,007,044
Archrock Partners LP/Archrock Partners Finance Corp.
6.250% due 04/01/28 ~		625,000		600,600
6.875% due 04/01/27 ~		3,200,000		3,143,120
Ascent Resources Utica Holdings LLC/ARU Finance Corp. 5.875% due 06/30/29 ~		4,550,000		4,019,902
Callon Petroleum Co. 7.500% due 06/15/30 ~		2,025,000		1,905,454
Cheniere Energy Partners LP
4.000% due 03/01/31		1,425,000		1,269,647
4.500% due 10/01/29		1,000,000		929,946
Comstock Resources, Inc. 5.875% due 01/15/30 ~		3,225,000		2,773,719
CQP Holdco LP/BIP-V Chinook Holdco LLC 5.500% due 06/15/31 ~		5,575,000		5,017,611
Crescent Energy Finance LLC 9.250% due 02/15/28 ~		925,000		887,773
Endeavor Energy Resources LP/EER Finance, Inc. 5.750% due 01/30/28 ~		6,375,000		6,333,499
EnLink Midstream LLC 6.500% due 09/01/30 ~		4,725,000		4,783,117
EQM Midstream Partners LP
5.500% due 07/15/28		1,525,000		1,387,079
6.000% due 07/01/25 ~		340,000		336,539
6.500% due 07/01/27 ~		2,200,000		2,134,726
7.500% due 06/01/27 ~		50,000		50,249
7.500% due 06/01/30 ~		50,000		48,497
Genesis Energy LP/Genesis Energy Finance Corp.
7.750% due 02/01/28		4,420,000		4,290,841
8.875% due 04/15/30		150,000		152,010

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

32

PACIFIC SELECT FUND

HIGH YIELD BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
ITT Holdings LLC 6.500% due 08/01/29 ~		$ 4,100,000		$ 3,465,402
Occidental Petroleum Corp. 6.125% due 01/01/31		4,500,000		4,673,318
Range Resources Corp. 8.250% due 01/15/29		2,200,000		2,320,890
SM Energy Co. 6.500% due 07/15/28		775,000		740,249
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
6.000% due 12/31/30 ~		2,500,000		2,237,513
6.000% due 09/01/31 ~		2,425,000		2,147,476
Tap Rock Resources LLC 7.000% due 10/01/26 ~		4,625,000		4,055,977
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.000% due 01/15/32		2,850,000		2,487,067
5.000% due 01/15/28		1,350,000		1,306,624
USA Compression Partners LP/USA Compression Finance Corp. 6.875% due 09/01/27		1,350,000		1,291,349
Venture Global Calcasieu Pass LLC
3.875% due 08/15/29 ~		975,000		880,328
3.875% due 11/01/33 ~		5,415,000		4,554,800
4.125% due 08/15/31 ~		975,000		857,600
6.250% due 01/15/30 ~		200,000		201,696
				81,885,918
Financial - 3.9%
Avolon Holdings Funding Ltd. (Ireland)
2.750% due 02/21/28 ~		3,500,000		2,924,264
3.250% due 02/15/27 ~		1,500,000		1,332,620
Howard Hughes Corp.
4.375% due 02/01/31 ~		5,575,000		4,495,011
5.375% due 08/01/28 ~		3,425,000		3,123,942
Iron Mountain, Inc.
4.500% due 02/15/31 ~		650,000		559,195
4.875% due 09/15/29 ~		3,450,000		3,104,586
5.000% due 07/15/28 ~		925,000		861,744
5.250% due 03/15/28 ~		700,000		667,761
OneMain Finance Corp. 7.125% due 03/15/26		5,100,000		4,907,730
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer 4.875% due 05/15/29 ~		5,400,000		4,651,911
VICI Properties LP/VICI Note Co., Inc. REIT
3.750% due 02/15/27 ~		1,750,000		1,617,114
4.625% due 12/01/29 ~		1,375,000		1,252,948
				29,498,826
Industrial - 17.5%
ARD Finance SA (Luxembourg) 6.500% Cash or 7.250% PIK due 06/30/27 ~		710,980		544,753
BWX Technologies, Inc.
4.125% due 06/30/28 ~		7,350,000		6,626,903
4.125% due 04/15/29 ~		2,050,000		1,820,334
Cargo Aircraft Management, Inc. 4.750% due 02/01/28 ~		6,175,000		5,528,292
Chart Industries, Inc.
7.500% due 01/01/30 ~		2,525,000		2,612,037
9.500% due 01/01/31 ~		2,325,000		2,455,095
Clean Harbors, Inc. 6.375% due 02/01/31 ~		4,525,000		4,621,382
Clydesdale Acquisition Holdings, Inc.
6.625% due 04/15/29 ~		1,575,000		1,517,355
8.750% due 04/15/30 ~		1,125,000		1,023,671

	Principal Amount		Value
First Student Bidco, Inc./First Transit Parent, Inc. 4.000% due 07/31/29 ~		$ 4,800,000	$	4,181,035
GFL Environmental, Inc. (Canada)
3.500% due 09/01/28 ~		7,050,000		6,386,842
3.750% due 08/01/25 ~		25,000		24,051
4.000% due 08/01/28 ~		1,050,000		954,944
4.375% due 08/15/29 ~		2,850,000		2,554,597
4.750% due 06/15/29 ~		550,000		514,250
Husky III Holding Ltd. (Canada) 13.000% Cash or 13.750% PIK due 02/15/25 ~		5,374,000		4,554,465
LABL, Inc.
5.875% due 11/01/28 ~		6,050,000		5,387,164
6.750% due 07/15/26 ~		1,850,000		1,785,800
8.250% due 11/01/29 ~		1,825,000		1,559,645
9.500% due 11/01/28 ~		200,000		202,000
Madison IAQ LLC
4.125% due 06/30/28 ~		1,900,000		1,645,619
5.875% due 06/30/29 ~		4,075,000		3,151,972
Masco Corp. 7.750% due 08/01/29		864,000		968,540
Mauser Packaging Solutions Holding Co.
7.875% due 08/15/26 ~		925,000		925,837
9.250% due 04/15/27 ~		5,700,000		5,272,500
OT Merger Corp. 7.875% due 10/15/29 ~		5,800,000		3,460,209
Owens-Brockway Glass Container, Inc.
5.375% due 01/15/25 ~		4,670,000		4,601,117
5.875% due 08/15/23 ~		2,259,000		2,257,713
Pentair Finance SARL 5.900% due 07/15/32		4,750,000		4,921,910
Rand Parent LLC 8.500% due 02/15/30 ~		2,725,000		2,564,429
Sealed Air Corp./Sealed Air Corp. 6.125% due 02/01/28 ~		4,800,000		4,858,560
Sensata Technologies BV 4.000% due 04/15/29 ~		1,600,000		1,447,000
Sensata Technologies, Inc. 4.375% due 02/15/30 ~		4,800,000		4,379,226
Spirit AeroSystems, Inc. 9.375% due 11/30/29 ~		1,775,000		1,939,187
SPX FLOW, Inc. 8.750% due 04/01/30 ~		5,225,000		4,515,027
Standard Industries, Inc.
3.375% due 01/15/31 ~		650,000		523,133
4.750% due 01/15/28 ~		4,875,000		4,561,026
TK Elevator Holdco GmbH (Germany) 7.625% due 07/15/28 ~		5,831,000		5,044,625
TK Elevator US Newco, Inc. (Germany) 5.250% due 07/15/27 ~		3,150,000		2,978,026
TransDigm UK Holdings PLC 6.875% due 05/15/26		2,650,000		2,612,834
TransDigm, Inc.
4.625% due 01/15/29		1,325,000		1,179,303
4.875% due 05/01/29		1,700,000		1,506,517
5.500% due 11/15/27		2,175,000		2,053,206
6.250% due 03/15/26 ~		4,075,000		4,082,844
6.750% due 08/15/28 ~		1,375,000		1,390,469
8.000% due 12/15/25 ~		3,925,000		4,001,047
Triumph Group, Inc. 9.000% due 03/15/28 ~		800,000		801,840
				132,498,331
Technology - 1.9%
Entegris Escrow Corp. 4.750% due 04/15/29 ~		3,575,000		3,383,068
Entegris, Inc.
3.625% due 05/01/29 ~		1,100,000		950,466
4.375% due 04/15/28 ~		5,225,000		4,726,312

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

33

PACIFIC SELECT FUND

HIGH YIELD BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Open Text Corp. (Canada) 3.875% due 12/01/29 ~		$ 950,000		$ 800,750
Open Text Holdings, Inc. (Canada) 4.125% due 12/01/31 ~		3,400,000		2,808,349
Rackspace Technology Global, Inc. 3.500% due 02/15/28 ~		2,925,000		1,524,744
				14,193,689
Utilities - 2.8%
Atlantica Sustainable Infrastructure PLC (Spain) 4.125% due 06/15/28 ~		600,000		539,040
Calpine Corp. 5.125% due 03/15/28 ~		7,100,000		6,510,063
Clearway Energy Operating LLC 3.750% due 02/15/31 ~		5,500,000		4,748,700
Vistra Operations Co. LLC
4.375% due 05/01/29 ~		5,350,000		4,744,301
5.000% due 07/31/27 ~		4,800,000		4,545,144
				21,087,248
Total Corporate Bonds & Notes (Cost $717,306,768)				659,228,982
SENIOR LOAN NOTES - 2.1%
Consumer, Cyclical - 2.1%
K-Mac Holdings Corp. (2nd Lien) 11.602% (USD LIBOR + 6.750%) due 07/30/29 §		1,750,000		1,624,583
PetSmart, Inc. Term B 8.657% (SOFR + 3.750%) due 02/11/28 §		8,000,000		7,948,336
SRS Distribution, Inc. Term B 8.340% (USD LIBOR + 3.500%) due 06/02/28 §		4,000,000		3,865,000
Tacala LLC (2nd Lien) 12.340% (USD LIBOR + 7.500%) due 02/04/28 §		2,250,000		2,062,980
				15,500,899
Technology - 0.0%
Ultimate Software Group, Inc. 8.271% (USD LIBOR + 3.250%) due 05/04/26 §		244,411		238,475
Total Senior Loan Notes (Cost $16,134,341)				15,739,374
ASSET-BACKED SECURITIES - 5.1%
AIG CLO LLC 11.408% (USD LIBOR + 6.600%) due 04/20/32 § ~		500,000		462,275
AIMCO CLO (Cayman) 11.392% (USD LIBOR + 6.600%) due 10/17/34 § ~		500,000		457,464
AIMCO CLO 10 Ltd. (Cayman) 10.765% (USD LIBOR + 5.950%) due 07/22/32 § ~		2,200,000		2,018,674
Benefit Street Partners CLO V-B Ltd. (Cayman) 10.758% (USD LIBOR + 5.950%) due 04/20/31 § ~		1,250,000		1,069,020
Benefit Street Partners CLO XVI Ltd. (Cayman) 11.492% (USD LIBOR + 6.700%) due 01/17/32 § ~		4,000,000		3,582,372

	Principal Amount		Value
Burnham Park Clo Ltd. (Cayman) 10.208% (USD LIBOR + 5.400%) due 10/20/29 § ~		$ 500,000		$ 423,743
CarVal CLO III Ltd. (Cayman) 11.248% (USD LIBOR + 6.440%) due 07/20/32 § ~		3,975,000		3,443,600
CIFC Funding Ltd. (Cayman)
10.942% (USD LIBOR + 6.150%) due 01/15/32 § ~		1,000,000		909,977
12.192% (USD LIBOR + 7.400%) due 01/16/33 § ~		4,550,000		4,262,143
Dryden 55 CLO Ltd. (Cayman)
10.192% (USD LIBOR + 5.400%) due 04/15/31 § ~		1,000,000		835,739
11.992% (USD LIBOR + 7.200%) due 04/15/31 § ~		250,000		169,938
Goldentree Loan Opportunities X Ltd. 10.458% (USD LIBOR + 5.650%) due 07/20/31 § ~		750,000		673,775
Magnetite VIII Ltd. (Cayman) 12.232% (USD LIBOR + 7.440%) due 04/15/31 § ~		2,000,000		1,701,951
Magnetite XXIII Ltd. (Cayman) 11.118% (USD LIBOR + 6.300%) due 01/25/35 § ~		500,000		463,918
Magnetite Xxix Ltd. (Cayman) 10.542% (USD LIBOR + 5.750%) due 01/15/34 § ~		3,950,000		3,604,622
Neuberger Berman Loan Advisers CLO 24 Ltd. (Cayman) 10.818% (USD LIBOR + 6.020%) due 04/19/30 § ~		2,500,000		2,175,433
Neuberger Berman Loan Advisers CLO 30 Ltd. (Cayman) 11.008% (USD LIBOR + 6.200%) due 01/20/31 § ~		2,250,000		2,015,261
Neuberger Berman Loan Advisers CLO 31 Ltd. (Cayman) 11.308% (USD LIBOR + 6.500%) due 04/20/31 § ~		2,500,000		2,239,403
Neuberger Berman Loan Advisers CLO 35 Ltd. (Cayman) 11.798% (USD LIBOR + 7.000%) due 01/19/33 § ~		2,100,000		1,916,059
Parallel Ltd. (Cayman) 12.008% (USD LIBOR + 7.200%) due 10/20/34 § ~		2,000,000		1,749,624
Rad CLO 2 Ltd. (Cayman)
10.792% (USD LIBOR + 6.000%) due 10/15/31 § ~		3,600,000		3,163,066
12.242% (USD LIBOR + 7.450%) due 10/15/31 § ~		1,750,000		1,216,732
RR 19 Ltd. (Cayman) 11.292% (USD LIBOR + 6.500%) due 10/15/35 § ~		625,000		561,476
Total Asset-Backed Securities (Cost $43,190,370)				39,116,265
SHORT-TERM INVESTMENT - 5.1%
Repurchase Agreement - 5.1%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $38,438,094; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $39,192,344)		38,423,845		38,423,845
Total Short-Term Investment (Cost $38,423,845)				38,423,845
TOTAL INVESTMENTS - 99.3% (Cost $819,446,738)				752,600,610
OTHER ASSETS & LIABILITIES, NET - 0.7%				5,100,955
NET ASSETS - 100.0%				$757,701,565

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

34

PACIFIC SELECT FUND

HIGH YIELD BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$92,144		$-		$92,144		$-
	Corporate Bonds & Notes		659,228,982		-		659,228,982		-
	Senior Loan Notes		15,739,374		-		15,739,374		-
	Asset-Backed Securities		39,116,265		-		39,116,265		-
	Short-Term Investment		38,423,845		-		38,423,845		-
	Total		$752,600,610		$-		$752,600,610		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

35

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Principal Amount		Value
CORPORATE BONDS & NOTES - 3.1%
Consumer, Cyclical - 0.1%
Toyota Tsusho Corp. (Japan) 3.625% due 09/13/23 ~		$500,000		$496,533
Financial - 3.0%
Avolon Holdings Funding Ltd. (Ireland) 2.528% due 11/18/27 ~		6,000		5,082
Bank of America Corp. 5.875% due 03/15/28		410,000		369,410
Credit Suisse Group AG (Switzerland)
0.650% due 01/14/28 ~		EUR 100,000		90,244
3.288% (EUR LIBOR + 1.000%) due 01/16/26 § ~		100,000		101,126
7.750% due 03/01/29 ~		100,000		118,762
Jyske Realkredit AS (Denmark)
0.500% due 10/01/43		DKK 1,810,813		203,518
1.000% due 10/01/50 ~		23,107,994		2,493,511
1.000% due 10/01/53		5,520,698		550,153
1.500% due 10/01/53		3,338,068		365,056
2.500% due 10/01/47		693		90
Natwest Group PLC (United Kingdom)
4.519% due 06/25/24		$500,000		497,633
6.684% (USD LIBOR + 1.550%) due 06/25/24 §		700,000		699,487
Nordea Kredit Realkreditaktieselskab (Denmark)
0.500% due 10/01/43		DKK 719,422		80,707
1.000% due 10/01/50		8,517,547		862,581
1.000% due 10/01/50 ~		7,676,970		829,143
1.500% due 10/01/53		5,199,579		549,829
2.000% due 10/01/53		999,840		111,680
2.000% due 10/01/53 ~		199,902		23,410
2.500% due 10/01/47		347		45
Nykredit Realkredit AS (Denmark)
0.500% due 10/01/43 ~		5,426,996		608,324
1.000% due 10/01/50 ~		51,965,813		5,596,133
1.000% due 10/01/53 ~		2,321,091		243,910
1.500% due 10/01/53 ~		8,834,833		986,546
2.500% due 10/01/47 ~		1,865		244
Realkredit Danmark AS (Denmark)
1.000% due 10/01/50 ~		15,620,747		1,682,743
1.000% due 10/01/53 ~		7,146,203		720,775
1.500% due 10/01/53 ~		497,488		52,835
2.000% due 10/01/53 ~		1,595,114		178,440
2.500% due 04/01/47 ~		8,576		1,123
UniCredit SpA (Italy) 7.830% due 12/04/23 ~		$1,750,000		1,766,236
				19,788,776
Technology - 0.0%
VMware, Inc. 3.900% due 08/21/27		100,000		95,792
Total Corporate Bonds & Notes (Cost $27,175,927)				20,381,101
MORTGAGE-BACKED SECURITIES - 7.0%
Collateralized Mortgage Obligations - Commercial - 0.3%
BAMLL Commercial Mortgage Securities Trust 5.734% (USD LIBOR + 1.050%) due 09/15/38 § ~		500,000		467,253

	Principal Amount		Value
GS Mortgage Securities Corp. II 8.228% (SOFR + 3.400%) due 08/15/39 § ~		$ 1,600,000		$ 1,593,151
				2,060,404
Collateralized Mortgage Obligations - Residential - 1.9%
Angel Oak Mortgage Trust 1.469% due 06/25/65 § ~		256,449		231,615
Bear Stearns Adjustable Rate Mortgage Trust 4.962% due 01/25/35 §		74,050		62,144
Chevy Chase Funding LLC Mortgage-Backed Certificates 5.205% (USD LIBOR + 0.360%) due 03/25/35 § ~		170,798		160,689
Citigroup Mortgage Loan Trust, Inc.
3.777% due 05/25/42 § ~		538,534		483,541
3.950% (UST + 2.400%) due 05/25/35 §		6,075		5,560
Eurosail-UK PLC (United Kingdom) 5.221% (SONIA + 1.069%) due 06/13/45 § ~		GBP 373,847		458,435
Fannie Mae REMICS
3.777% due 05/25/35 §		$203,099		206,241
4.677% (USD LIBOR + 0.060%) due 07/25/37 §		242,459		237,606
4.995% (USD LIBOR + 0.150%) due 08/25/34 §		14,301		14,013
5.195% (USD LIBOR + 0.350%) due 07/25/37 §		2,690		2,637
Freddie Mac 5.134% (USD LIBOR + 0.450%) due 09/15/42 §		595,376		580,505
Freddie Mac REMICS
3.806% (USD LIBOR + 0.350%) due 07/15/44 §		307,106		300,416
5.034% (USD LIBOR + 0.350%) due 01/15/47 §		964,538		931,904
Government National Mortgage Association REMICS
1.968% (USD LIBOR + 0.750%) due 04/20/67 §		561,243		560,924
3.858% (USD LIBOR + 0.150%) due 08/20/68 §		619,295		603,082
5.459% (SOFR + 0.900%) due 10/20/72 §		2,418,543		2,408,058
Great Hall Mortgages No 1 PLC (United Kingdom)
4.420% (SONIA + 0.249%) due 03/18/39 § ~		GBP 7,584		9,248
4.440% (SONIA + 0.269%) due 06/18/38 § ~		7,037		8,604
GSMPS Mortgage Loan Trust 7.000% due 06/25/43 ~		$123,043		125,971
GSR Mortgage Loan Trust 4.367% due 01/25/35 §		65,385		58,562
HarborView Mortgage Loan Trust 5.441% (USD LIBOR + 0.680%) due 06/20/35 §		1,675,336		1,471,903
Impac CMB Trust 5.845% (USD LIBOR + 1.000%) due 07/25/33 §		18,114		17,944
JP Morgan Mortgage Trust 4.183% due 07/25/35 §		34,155		32,321
Mellon Residential Funding Corp. Mortgage Pass-Through Certificate Trust
5.124% (USD LIBOR + 0.440%) due 12/15/30 §		58,080		53,831
5.384% (USD LIBOR + 0.700%) due 11/15/31 §		82,695		77,664
New Residential Mortgage Loan Trust 3.250% due 02/25/59 § ~		346,394		327,031

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

36

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Residential Mortgage Securities 32 PLC (United Kingdom) 5.421% (SONIA + 1.250%) due 06/20/70 § ~		GBP 435,330		$ 536,256
Sequoia Mortgage Trust 5.461% (USD LIBOR + 0.700%) due 10/19/26 §		$47,069		44,536
Structured Adjustable Rate Mortgage Loan Trust 5.193% due 02/25/34 §		19,015		17,483
Structured Asset Mortgage Investments II Trust
5.261% (USD LIBOR + 0.500%) due 07/19/35 §		175,749		154,770
5.421% (USD LIBOR + 0.660%) due 10/19/34 §		79,490		73,401
Thornburg Mortgage Securities Trust 5.465% (USD LIBOR + 0.620%) due 06/25/44 §		1,072,744		952,303
Towd Point Mortgage Funding PLC (United Kingdom) 5.037% (SONIA + 1.144%) due 10/20/51		GBP 719,373		888,479
WaMu Mortgage Pass-Through Certificates Trust 2.806% due 08/25/35 §		$17,597		15,233
				12,112,910
Fannie Mae - 4.8%
due 05/12/52 #		7,500,000		7,350,812
due 06/25/52 #		15,668,000		14,993,601
due 04/13/53 #		8,400,000		8,661,844
3.175% (USD LIBOR + 0.675%) due 02/01/36 §		29,490		28,794
3.326% (USD LIBOR + 2.000%) due 04/01/35 §		82,883		80,972
3.522% (USD LIBOR + 1.272%) due 11/01/35 §		20,097		19,713
3.622% (USD LIBOR + 1.372%) due 12/01/34 §		17,232		16,966
3.663% (USD LIBOR + 1.538%) due 01/01/36 §		6,106		5,966
3.850% (USD LIBOR + 1.725%) due 05/01/35 §		754		738
3.993% (US FED + 1.200%) due 11/01/42 - 10/01/44 §		70,177		67,016
4.030% (USD LIBOR + 1.780%) due 11/01/35 §		7,798		7,624
4.192% (USD LIBOR + 1.942%) due 09/01/35 §		165		162
4.394% (USD LIBOR + 1.644%) due 03/01/35 §		75,728		74,259
5.000% (US FED + 1.250%) due 08/01/24 §		1,108		1,099
				31,309,566
Freddie Mac - 0.0%
3.981% (USD LIBOR + 1.731%) due 08/01/35 §		1,211		1,194
4.350% (UST + 2.225%) due 01/01/34 §		34,773		34,866
4.815% (USD LIBOR + 1.815%) due 03/01/36 §		1,307		1,277
				37,337
Government National Mortgage Association - 0.0%
2.625% (UST + 1.500%) due 09/20/23 - 01/20/27 §		6,570		6,436
2.750% (UST + 1.500%) due 11/20/26 §		2,169		2,106

	Principal Amount		Value
2.875% (UST + 1.500%) due 05/20/23 §		$ 6		$ 6
3.000% (UST + 1.500%) due 10/20/24 - 12/20/26 §		5,018		4,903
				13,451
Total Mortgage-Backed Securities (Cost $46,071,574)				45,533,668
ASSET-BACKED SECURITIES - 9.4%
522 Funding CLO Ltd. (Cayman) 5.848% (USD LIBOR + 1.040%) due 10/20/31 § ~		1,100,000		1,081,850
ABFC Trust
5.445% (USD LIBOR + 0.600%) due 10/25/34 §		37,941		37,907
5.545% (USD LIBOR + 0.700%) due 06/25/34 §		924,214		869,311
ACAS CLO Ltd. (Cayman) 5.685% (USD LIBOR + 0.890%) due 10/18/28 § ~		345,089		341,165
ACE Securities Corp. Home Equity Loan Trust 5.625% (USD LIBOR + 0.780%) due 04/25/34 §		627,071		586,714
AMMC CLO 16 Ltd. (Cayman) 5.772% (USD LIBOR + 0.980%) due 04/14/29 § ~		378,676		378,429
Apidos CLO XXVI (Cayman) 5.695% (USD LIBOR + 0.900%) due 07/18/29 § ~		300,000		297,422
Apidos CLO XXVII (Cayman) 5.722% (USD LIBOR + 0.930%) due 07/17/30 § ~		300,000		296,454
Ares European CLO VI DAC (Ireland) 2.898% (EUR LIBOR + 0.610%) due 04/15/30 § ~		EUR 492,009		523,564
Ares European CLO X DAC (Ireland) 3.068% (EUR LIBOR + 0.780%) due 10/15/31 § ~		900,000		953,457
ARES L CLO Ltd. (Cayman) 5.842% (USD LIBOR + 1.050%) due 01/15/32 § ~		$810,000		798,139
ARES LII CLO Ltd. (Cayman) 5.865% (USD LIBOR + 1.050%) due 04/22/31 § ~		300,000		295,514
Atlas Senior Loan Fund Ltd. (Cayman) 5.942% (USD LIBOR + 1.150%) due 01/16/30 § ~		529,494		526,429
Barings CLO Ltd. (Cayman) 5.878% (USD LIBOR + 1.070%) due 01/20/32 § ~		1,500,000		1,480,903
BDS LLC 6.556% (SOFR + 1.800%) due 03/19/39 § ~		1,000,000		987,072
Benefit Street Partners CLO XVII Ltd. (Cayman) 5.872% (USD LIBOR + 1.080%) due 07/15/32 § ~		1,800,000		1,771,565
Black Diamond CLO Ltd. (Ireland) 3.202% (EUR LIBOR + 0.860%) due 01/20/32 § ~		EUR 547,328		583,832
Carlyle Euro CLO DAC (Ireland) 3.284% (EUR LIBOR + 0.630%) due 08/15/30 § ~		484,887		514,630
Carlyle Global Market Strategies CLO Ltd.
5.819% (USD LIBOR + 0.950%) due 08/14/30 § ~		$384,105		379,976
5.895% (USD LIBOR + 1.080%) due 04/22/32 § ~		500,000		491,500

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

37

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Carlyle Global Market Strategies Euro CLO Ltd. (Ireland) 3.404% (EUR LIBOR + 0.750%) due 11/15/31 § ~		EUR 1,700,000		$ 1,797,815
Catamaran CLO Ltd. (Cayman) 5.915% (USD LIBOR + 1.100%) due 04/22/30 § ~		$379,632		375,500
CBAM Ltd. (Cayman) 6.058% (USD LIBOR + 1.250%) due 07/20/30 § ~		588,323		576,246
CIFC Funding Ltd. (Cayman)
5.766% (USD LIBOR + 0.950%) due 10/24/30 § ~		387,508		382,907
5.795% (USD LIBOR + 1.000%) due 04/18/31 § ~		500,000		492,307
Citigroup Mortgage Loan Trust, Inc. 5.135% (USD LIBOR + 0.290%) due 09/25/36 § ~		267,955		253,693
Credit-Based Asset Servicing & Securitization LLC 3.948% (USD LIBOR + 1.050%) due 06/25/35 §		1,083,000		1,028,653
Crestline Denali CLO XIV Ltd. (Cayman) 5.955% (USD LIBOR + 1.140%) due 10/23/31 § ~		299,533		294,209
Crestline Denali CLO XV Ltd. (Cayman) 5.838% (USD LIBOR + 1.030%) due 04/20/30 § ~		343,220		338,783
Dryden 52 Euro CLO DAC (Ireland) 3.514% (EUR LIBOR + 0.860%) due 05/15/34 § ~		EUR 400,000		424,039
Dryden 60 CLO Ltd. (Cayman) 5.842% (USD LIBOR + 1.050%) due 07/15/31 § ~		$1,500,000		1,478,250
Dryden 64 CLO Ltd. (Cayman) 5.765% (USD LIBOR + 0.970%) due 04/18/31 § ~		600,000		592,364
Dryden XXVI Senior Loan Fund (Cayman) 5.692% (USD LIBOR + 0.900%) due 04/15/29 § ~		1,463,919		1,448,548
Freddie Mac Structured Pass-Through Certificates 5.105% (USD LIBOR + 0.260%) due 08/25/31 §		43,645		43,527
Gallatin CLO VIII Ltd. (Cayman) 5.169% (USD LIBOR + 1.090%) due 07/15/31 § ~		300,000		294,600
Goldentree Loan Management US Clo 2 Ltd. (Cayman) 5.718% (USD LIBOR + 0.910%) due 11/20/30 § ~		300,000		296,250
Goldentree Loan Opportunities XI Ltd. (Cayman) 5.865% (USD LIBOR + 1.070%) due 01/18/31 § ~		600,000		595,855
HalseyPoint CLO 3 Ltd. (Cayman) 6.252% (USD LIBOR + 1.450%) due 11/30/32 § ~		950,000		938,151
Harvest CLO XXII DAC (Ireland) 3.138% (EUR LIBOR + 0.850%) due 01/15/32 § ~		EUR 1,200,000		1,264,730
Home Equity Asset Trust
5.700% (USD LIBOR + 0.855%) due 08/25/34 §		$116,780		113,588
6.045% (USD LIBOR + 1.200%) due 07/25/35 §		1,000,000		952,210
KKR CLO 9 Ltd. (Cayman) 5.742% (USD LIBOR + 0.950%) due 07/15/30 § ~		260,764		257,850
LCM CLO XIII LP (Cayman) 5.668% (USD LIBOR + 0.870%) due 07/19/27 § ~		759,912		754,986

	Principal Amount		Value
LCM XV LP (Cayman) 5.808% (USD LIBOR + 1.000%) due 07/20/30 § ~		$ 1,195,845		$ 1,180,949
LCM XVIII LP (Cayman) 5.828% (USD LIBOR + 1.020%) due 04/20/31 § ~		1,000,000		986,934
LoanCore Issuer Ltd. (Cayman) 6.108% (SOFR + 1.550%) due 01/17/37 § ~		600,000		588,132
Madison Park Euro Funding IX DAC (Ireland) 3.168% (EUR LIBOR + 0.880%) due 07/15/35 § ~		EUR 1,000,000		1,045,298
Madison Park Funding XLI Ltd. (Cayman) 5.645% (USD LIBOR + 0.830%) due 04/22/27 § ~		$1,709,046		1,700,884
Madison Park Funding XXX Ltd. (Cayman) 5.542% (USD LIBOR + 0.750%) due 04/15/29 § ~		4,292,155		4,234,210
Magnetite CLO XVIII Ltd. (Cayman) 5.744% (USD LIBOR + 0.880%) due 11/15/28 § ~		273,744		271,143
Man GLG Euro CLO II DAC (Ireland) 3.158% (EUR LIBOR + 0.870%) due 01/15/30 § ~		EUR 123,795		132,179
Merrill Lynch Mortgage Investors Trust 5.565% (USD LIBOR + 0.720%) due 10/25/35 §		$622,129		578,937
MF1 LLC 6.906% (SOFR + 2.150%) due 06/19/37 § ~		600,000		594,914
MidOcean Credit CLO II (Cayman) 5.832% (USD LIBOR + 1.030%) due 01/29/30 § ~		278,965		276,175
Midocean Credit CLO VIII (Cayman) 5.965% (USD LIBOR + 1.050%) due 02/20/31 § ~		300,000		294,788
Morgan Stanley ABS Capital I, Inc. Trust
5.505% (USD LIBOR + 0.660%) due 01/25/35 §		516,035		496,908
5.820% (USD LIBOR + 0.975%) due 07/25/34 §		73,160		69,792
OAK Hill European Credit Partners VII DAC (Ireland) 3.082% (EUR LIBOR + 0.740%) due 10/20/31		EUR 600,000		636,205
Oaktree CLO Ltd. (Cayman) 5.925% (USD LIBOR + 1.110%) due 04/22/30 § ~		$300,000		293,740
Octagon Investment Partners Ltd. (Cayman) 5.752% (USD LIBOR + 0.960%) due 04/16/31 § ~		600,000		594,167
OSD CLO Ltd. (Cayman) 5.662% (USD LIBOR + 0.870%) due 04/17/31 § ~		1,477,319		1,457,851
OZLM CLO XXIV Ltd. (Cayman) 5.968% (USD LIBOR + 1.160%) due 07/20/32 § ~		200,000		196,900
OZLM VIII Ltd. (Cayman) 5.772% (USD LIBOR + 0.980%) due 10/17/29 § ~		243,361		240,927
Palmer Square Loan Funding Ltd. (Cayman)
5.592% (USD LIBOR + 0.800%) due 10/15/29 § ~		646,101		638,065
5.608% (USD LIBOR + 0.800%) due 07/20/29 § ~		572,217		565,208
Rad CLO 5 Ltd. (Cayman) 5.936% (USD LIBOR + 1.120%) due 07/24/32 § ~		500,000		491,350
Regatta VIII Funding Ltd. (Cayman) 6.042% (USD LIBOR + 1.250%) due 10/17/30 § ~		658,034		651,675

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

38

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Renaissance Home Equity Loan Trust 5.605% (USD LIBOR + 0.760%) due 12/25/32 §		$ 164,168		$ 149,628
Romark CLO Ltd. (Cayman) 5.845% (USD LIBOR + 1.030%) due 10/23/30 § ~		500,000		495,000
Saranac CLO VI Ltd. (Jersey) 6.294% (USD LIBOR + 1.140%) due 08/13/31 § ~		300,000		296,897
Saxon Asset Securities Trust 5.155% (USD LIBOR + 0.310%) due 09/25/37 §		137,224		128,994
Segovia European CLO 6- DAC (Ireland) 3.222% (EUR LIBOR + 0.880%) due 07/20/32 § ~		EUR 400,000		423,714
SLM Student Loan Trust 5.368% (USD LIBOR + 0.550%) due 10/25/64 § ~		$623,793		609,582
Sound Point CLO IX Ltd. (Cayman) 6.018% (USD LIBOR + 1.210%) due 07/20/32 § ~		600,000		588,795
Sound Point CLO XIV Ltd. (Cayman) 5.805% (USD LIBOR + 0.990%) due 01/23/29 § ~		270,381		269,957
Sound Point CLO XV Ltd. (Cayman) 5.715% (USD LIBOR + 0.900%) due 01/23/29 § ~		169,023		167,768
Stratus CLO Ltd. (Cayman) 5.758% (USD LIBOR + 0.950%) due 12/29/29 § ~		344,065		340,505
Structured Asset Securities Corp. Mortgage Loan Trust 6.162% (USD LIBOR + 1.500%) due 04/25/35 §		195,131		188,992
TCI-Symphony CLO Ltd. (Cayman) 5.722% (USD LIBOR + 0.930%) due 07/15/30 § ~		1,941,335		1,914,157
TCW CLO Ltd. (Cayman) 5.788% (USD LIBOR + 0.970%) due 04/25/31 § ~		500,000		493,450
THL Credit Wind River CLO Ltd. (Cayman) 5.872% (USD LIBOR + 1.080%) due 04/15/31 § ~		300,000		294,000
TRTX Issuer Ltd. (Cayman) 6.208% (SOFR + 1.650%) due 02/15/39 § ~		500,000		492,541
TSTAT Ltd. (Bermuda) 6.939% (SOFR + 2.300%) due 07/20/31 § ~		581,560		582,554
United States Small Business Administration 5.290% due 12/01/27		318,474		318,128
Venture XIV CLO Ltd. (Cayman) 5.983% (USD LIBOR + 1.030%) due 08/28/29 § ~		672,187		663,566
Venture XVII CLO Ltd. (Cayman) 5.672% (USD LIBOR + 0.880%) due 04/15/27 § ~		1,519,337		1,512,972
Venture XXIV CLO Ltd. (Cayman) 5.708% (USD LIBOR + 0.900%) due 10/20/28 § ~		297,471		293,687
Venture XXVIII CLO Ltd. (Cayman) 5.798% (USD LIBOR + 0.990%) due 07/20/30 § ~		298,016		294,290
Vibrant CLO XI Ltd. (Cayman) 5.928% (USD LIBOR + 1.120%) due 07/20/32 § ~		300,000		292,224
Voya CLO Ltd. (Cayman)
5.742% (USD LIBOR + 0.950%) due 04/17/30 § ~		1,656,529		1,637,485
5.892% (USD LIBOR + 1.100%) due 07/14/31 § ~		495,483		490,626
Wellfleet CLO Ltd. (Cayman)

	Principal Amount		Value
5.718% (USD LIBOR + 0.910%) due 04/20/28 § ~		$ 374,331		$ 372,801
5.892% (USD LIBOR + 1.100%) due 07/17/31 § ~		2,000,000		1,977,567
Total Asset-Backed Securities (Cost $62,716,626)				61,698,105
U.S. TREASURY OBLIGATIONS - 73.4%
U.S. Government Agency Issues - 5.1%
0.625% due 07/15/32 ^		34,822,450		33,291,212
U.S. Treasury Inflation Protected Securities - 65.1%
0.125% due 07/15/24 ^		15,127,800		14,834,988
0.125% due 10/15/24 ^		13,522,816		13,209,467
0.125% due 04/15/25 ^ ‡		3,902,224		3,781,270
0.125% due 10/15/25 ^		19,035,225		18,446,163
0.125% due 04/15/26 ^		16,778,874		16,106,496
0.125% due 07/15/26 ^		14,124,870		13,609,369
0.125% due 10/15/26 ^		17,088,864		16,414,583
0.125% due 04/15/27 ^		5,508,412		5,248,573
0.125% due 01/15/30 ^		13,880,250		12,942,946
0.125% due 07/15/30 ^		22,766,250		21,197,819
0.125% due 07/15/31 ^		1,595,780		1,470,772
0.125% due 01/15/32 ^		7,768,584		7,101,450
0.125% due 02/15/51 ^		4,606,728		3,196,052
0.125% due 02/15/52 ^		8,165,668		5,679,788
0.250% due 01/15/25 ^ ‡		2,651,838		2,587,968
0.250% due 07/15/29 ^		21,768,618		20,638,694
0.250% due 02/15/50 ^		3,187,606		2,316,075
0.375% due 07/15/23 ^		10,538,804		10,569,981
0.375% due 07/15/25 ^		9,783,361		9,571,260
0.375% due 01/15/27 ^		13,421,871		12,939,638
0.375% due 07/15/27 ^ ‡		61,135		59,077
0.500% due 04/15/24 ^ ‡		2,016,030		1,983,708
0.500% due 01/15/28 ^		24,605,534		23,757,686
0.625% due 01/15/24 ^		6,506,620		6,451,798
0.625% due 01/15/26 ^		3,727,159		3,644,735
0.625% due 02/15/43 ^		12,527,763		10,590,076
0.750% due 07/15/28 ^		4,587,391		4,500,250
0.750% due 02/15/42 ^		16,492,889		14,423,033
0.750% due 02/15/45 ^		16,854,758		14,375,202
0.875% due 01/15/29 ^		18,374,940		18,062,742
0.875% due 02/15/47 ^		5,827,158		5,052,119
1.000% due 02/15/46 ^		9,126,357		8,173,169
1.000% due 02/15/48 ^		7,641,207		6,815,467
1.000% due 02/15/49 ^		5,943,000		5,293,886
1.375% due 02/15/44 ^		14,257,907		13,828,360
1.625% due 10/15/27 ^ ‡		9,995,733		10,194,631
1.750% due 01/15/28 ^ ‡		2,568,396		2,628,896
2.000% due 01/15/26 ^		7,465,381		7,575,133
2.125% due 02/15/40 ^		4,525,026		5,001,305
2.125% due 02/15/41 ^		4,110,998		4,543,377
2.375% due 01/15/25 ^		13,169,859		13,331,148
2.375% due 01/15/27 ^ ‡		133,481		138,411
2.500% due 01/15/29 ^		6,962,614		7,458,175
3.625% due 04/15/28 ^		13,236,421		14,783,578
3.875% due 04/15/29 ^		9,757,335		11,245,998
				425,775,312
U.S. Treasury Notes - 3.2%
0.125% due 01/15/31 ^		22,308,060		20,633,183
Total U.S. Treasury Obligations (Cost $529,430,951)				479,699,707

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

39

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
FOREIGN GOVERNMENT BONDS & NOTES - 6.6%
Canadian Government (Canada) 4.250% due 12/01/26 ^		CAD 2,628,060		$2,166,307
French Republic Government OAT (France)
0.100% due 03/01/26 ^ ~		EUR 3,994,025		4,360,905
0.100% due 07/25/31 ^ ~		1,142,920		1,232,338
0.100% due 07/25/38 ^ ~		2,356,578		2,395,297
0.250% due 07/25/24 ^ ~		1,946,144		2,141,847
Italy Buoni Poliennali Del Tesoro (Italy)
0.400% due 05/15/30 ^ ~		2,433,564		2,430,851
1.400% due 05/26/25 ^ ~		12,512,640		13,482,702
Japanese Government CPI Linked (Japan)
0.005% due 03/10/31 ^		JPY 83,250,990		652,088
0.100% due 03/10/28 ^		511,009,170		3,985,313
0.100% due 03/10/29 ^		940,472,619		7,401,950
New Zealand Government Inflation Linked (New Zealand) 2.000% due 09/20/25 ^ ~		NZD 3,967,360		2,538,173
Qatar Government (Qatar) 3.875% due 04/23/23 ~		$300,000		299,833
Total Foreign Government Bonds & Notes (Cost $46,751,595)				43,087,604
SHORT-TERM INVESTMENTS - 11.9%
Repurchase Agreements - 11.9%
BNP Paribas SA 4.860% due 04/03/23 (Dated 03/31/23, repurchase price of $21,808,829; collateralized by U.S. Treasury Notes: 2.750% due 04/30/27 and value $21,992,179)		21,800,000		21,800,000
4.820% due 04/04/23 (Dated 04/03/23, repurchase price of $4,100,549; collateralized by U.S. Treasury Notes: 0.130% due 10/15/26 and value $4,164,360)		4,100,000		4,100,000
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $4,682,764; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $4,774,684)		4,681,028		4,681,028
J.P. Morgan Securities LLC 4.880% due 04/04/23 (Dated 04/03/23, repurchase price of $47,006,371; collateralized by U.S. Treasury Notes: 1.250% due 11/30/26 and value $47,783,118)		47,000,000		47,000,000
				77,581,028

	Principal Amount		Value
U.S. Treasury Bills - 0.0%
2.366% due 04/06/23		$326,000		$325,875
Total Short-Term Investments (Cost $77,906,825)				77,906,903
TOTAL INVESTMENTS - 111.4% (Cost $790,053,498)				728,307,088
DERIVATIVES - (0.6%)				(4,154,714	)
OTHER ASSETS & LIABILITIES, NET - (10.8%)				(70,275,797	)
NET ASSETS - 100.0%				$653,876,577

Notes to Schedule of Investments

(a) The average amount of borrowings by the Fund on reverse repurchase agreements during the period ended March 31, 2023 was $2,907,945 at a weighted average interest rate of 4.561%. The average amount of borrowings by the Fund on sale-buyback financing transactions during the period ended March 31, 2023 was $20,494,136 at a weighted average interest rate of 4.485%.

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

40

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(b) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month		Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Euro-Bund		06/23		61		$8,850,552		$ 8,986,426		$135,874
U.S. Treasury 2-Year Notes		06/23		400		81,974,328		82,581,251		606,923
U.S. Treasury 5-Year Notes		06/23		33		3,543,161		3,613,758		70,597
U.S. Treasury Ultra 10-Year Notes		06/23		18		2,208,169		2,180,531		(27,638	)
U.S. Treasury Ultra Long Bonds		06/23		74		10,235,996		10,443,250		207,254
										993,010
Short Futures Outstanding
3-Month USD SOFR		06/23		100		23,788,750		23,781,875		6,875
3-Month USD SOFR		12/23		271		64,596,238		64,630,113		(33,875	)
Australia Treasury 3-Year Bond		06/23		16		1,147,537		1,163,805		(16,268	)
Euro-Bobl		06/23		109		13,771,815		13,934,652		(162,837	)
Euro-BTP		06/23		141		17,011,829		17,638,686		(626,857	)
Euro-Buxl		06/23		51		7,300,853		7,790,895		(490,042	)
Euro-OAT		06/23		42		5,742,362		5,931,846		(189,484	)
Euro-Schatz		06/23		1,309		148,924,229		150,045,717		(1,121,488	)
Japan 10-Year Bonds		06/23		59		64,777,364		65,818,716		(1,041,352	)
Short Euro-BTP		06/23		65		7,346,432		7,427,794		(81,362	)
U.S. Treasury 10-Year Notes		06/23		86		9,826,317		9,883,281		(56,964	)
U.S. Treasury 30-Year Bonds		06/23		263		32,988,397		34,494,094		(1,505,697	)
										(5,319,351	)
Total Futures Contracts										($4,326,341	)

(c) Forward foreign currency contracts outstanding as of March 31, 2023 were as follows:

Currency Purchased		Currency Sold		Settlement Month		Counterparty	Unrealized Appreciation		Unrealized Depreciation
CAD	949,313	USD	700,548		04/23	TDB		$1,875		$-
CAD	1,821,018	USD	1,339,378		04/23	UBS		8,045		-
DKK	49,716,358	USD	7,222,016		04/23	BNP		15,402		-
DKK	34,521,407	USD	5,031,175		04/23	CIT		-		(5,749	)
EUR	2,681,000	USD	2,861,956		04/23	CIT		45,588		-
EUR	33,265,000	USD	35,999,383		04/23	DUB		76,506		-
EUR	455,000	USD	494,008		04/23	HSB		-		(561	)
EUR	1,812,000	USD	1,928,684		04/23	HSB		36,429		-
EUR	497,000	USD	541,209		05/23	BNP		-		(1,367	)
JPY	147,500,000	USD	1,113,804		04/23	BNP		-		(2,902	)
JPY	1,733,869,875	USD	13,227,570		04/23	DUB		-		(168,863	)
NZD	1,451,071	USD	902,276		04/23	BOA		5,079		-
NZD	2,078,916	USD	1,286,641		04/23	TDB		13,305		-
USD	2,041,102	CAD	2,768,930		04/23	TDB		-		(7,707	)
USD	700,548	CAD	948,922		05/23	TDB		-		(1,875	)
USD	1,339,378	CAD	1,820,288		05/23	UBS		-		(8,058	)
USD	5,717	DKK	40,000		04/23	BNP		-		(106	)
USD	7,574,082	DKK	53,114,878		04/23	BOA		-		(158,073	)
USD	8,243,018	DKK	57,994,002		04/23	CIT		-		(199,411	)
USD	7,222,016	DKK	49,623,916		05/23	BNP		-		(15,173	)
USD	3,923,361	DKK	26,824,683		05/23	BRC		11,229		-
USD	5,031,175	DKK	34,456,757		05/23	CIT		5,976		-
USD	1,380,252	EUR	1,293,000		04/23	BNP		-		(22,006	)
USD	5,846,422	EUR	5,467,000		04/23	HSB		-		(82,539	)
USD	32,441,947	EUR	30,556,000		04/23	UBS		-		(696,032	)
USD	36,057,131	EUR	33,265,000		05/23	DUB		-		(75,347	)
USD	1,967,160	GBP	1,629,000		04/23	HSB		-		(42,373	)
USD	2,016,547	GBP	1,629,000		05/23	UBS		5,842		-
USD	550,363	JPY	73,000,000		04/23	BNP		561		-
USD	2,206,956	JPY	297,700,628		04/23	HSB		-		(35,187	)
USD	209,527	JPY	28,508,279		04/23	MSC		-		(5,184	)
USD	10,903,841	JPY	1,480,176,788		04/23	TDB		-		(244,167	)
USD	13,227,570	JPY	1,726,892,332		05/23	DUB		168,827		-
USD	2,434,992	NZD	3,919,882		04/23	BOA		-		(16,111	)
USD	902,273	NZD	1,451,071		05/23	BOA		-		(5,120	)
USD	1,286,652	NZD	2,078,916		05/23	TDB		-		(13,349	)
Total Forward Foreign Currency Contracts								$394,664		($1,807,260	)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

41

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(d) Purchased options outstanding as of March 31, 2023 were as follows:

Interest Rate Swaptions

Description

Pay/Receive Floating Rate

Floating Rate Index

Exercise Rate

Expiration Date

Counter- party

Notional Amount

Cost

Value

Call - 5-Year Interest Rate Swap

Pay

SOFR

2.200%

04/26/23

GSC

$7,500,000

$80,062

$1,256

Call - 5-Year Interest Rate Swap

Pay

SOFR

2.200%

05/31/23

MSC

21,400,000

256,800

20,763

336,862

22,019

Put - 30-Year Interest Rate Swap

Receive

3-Month USD-LIBOR

2.237%

11/17/23

DUB

4,100,000

254,483

742,827

Total Purchased Options

$591,345

$764,846

(e) Premiums received and value of written options outstanding as of March 31, 2023 were as follows:

Inflation Floor/Cap Options

Description	Initial Index		Floating Rate		Expiration Date		Counter- party		Notional Amount		Premium		Value
Cap - U.S. CPI Urban Consumers		233.92		Maximum of [0, Final Index/Initial Index - (1.000+ 4.000%)^10]		04/22/24		JPM		$13,400,000		$97,485		($2	)
Cap - Eurostat Eurozone HICP		117.20		Maximum of [0, (Final Index/Initial Index) - (1+3.000%)^20)]		06/22/35		GSC		EUR 2,200,000		100,087		(47,744	)
												$197,572		($47,746	)

Interest Rate Swaptions

Description	Pay/Receive Floating Rate		Floating Rate Index		Exercise Rate		Expiration Date		Counter- party		Notional Amount		Premium		Value
Call - 10-Year Interest Rate Swap		Receive		6-Month EUR-LIBOR		2.920%		04/11/23		CIT		EUR 7,700,000		$155,023		($37,185	)
Call - 10-Year Interest Rate Swap		Receive		SOFR		2.350%		04/26/23		GSC		$4,200,000		82,935		(927	)
Call - 10-Year Interest Rate Swap		Receive		SOFR		2.350%		05/31/23		MSC		11,700,000		254,915		(17,367	)
Call - 10-Year Interest Rate Swap		Receive		6-Month EUR-LIBOR		2.067%		06/09/23		GSC		EUR 1,600,000		18,675		(2,496	)
														511,548		(57,975	)
Put - 10-Year Interest Rate Swap		Pay		6-Month EUR-LIBOR		2.920%		04/11/23		CIT		7,700,000		155,023		(72,255	)
Put - 10-Year Interest Rate Swap		Pay		6-Month EUR-LIBOR		3.140%		06/09/23		GSC		1,600,000		22,148		(18,907	)
Put - 5-Year Interest Rate Swap		Pay		3-Month USD-LIBOR		2.340%		11/17/23		DUB		$20,200,000		254,520		(1,019,528	)
														431,691		(1,110,690	)
Total Interest Rate Swaptions														$943,239		$1,168,665

Options on Futures

Description	Exercise Price		Expiration Date		Exchange	Number of Contracts		Notional Amount		Premium		Value
Call - U.S. Treasury 10-Year Notes		$118.00		04/23/23	CME		9		$1,062,000		$5,773		($1,688	)
Call - U.S. Treasury 10-Year Notes		119.00		04/21/23	CME		16		1,904,000		14,628		(2,000	)
											20,401		(3,688	)
Put - U.S. Treasury 10-Year Notes		112.00		04/22/23	CME		16		1,792,000		8,568		(1,750	)
Put - U.S. Treasury 10-Year Notes		112.50		04/21/23	CME		9		1,012,500		3,662		(1,406	)
											12,230		(3,156	)
Total Options on Futures											$32,631		($6,844	)
Total Written Options											$1,173,442		($1,223,255	)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

42

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(f) Swap agreements outstanding as of March 31, 2023 were as follows:

Credit Default Swaps on Corporate Issues - Sell Protection (1)

Referenced Obligation

Payment Frequency

Fixed Deal Receive Rate

Expiration Date

Exchange

Implied Credit Spread at 03/31/23 (2)

Notional Amount(3)

Value

Upfront Premiums Paid (Received)

Unrealized Appreciation (Depreciation)

General Electric Co.

Q

1.000%

12/20/23

ICE

0.267%

$300,000

$1,672

$1,340

$332

(1) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying investments comprising the referenced index or (ii) pay a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.

(2) An implied credit spread is the spread in yield between a U.S. Treasury security and the referenced obligation or underlying investment that are identical in all respects except for the quality rating. Implied credit spreads, represented in the absolute terms, utilized in determining the value of credit default swaps on corporate issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter the agreement. Wider credit spreads, in comparison to narrower credit spreads, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

(3) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

Interest Rate Swaps - Long

Receive	Pay	Payment Frequency Receive Rate/ Pay Rate	Exchange	Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
5.320%	U.S. CPI Urban Consumers	Z/Z	LCH		04/29/23		$1,500,000		($10,989	)		($9,587	)		($1,402	)
5.150%	U.S. CPI Urban Consumers	Z/Z	LCH		05/23/23		4,400,000		(11,488	)		(5,016	)		(6,472	)
5.185%	U.S. CPI Urban Consumers	Z/Z	LCH		05/24/23		4,100,000		(8,139	)		(2,012	)		(6,127	)
(0.526%)	3-Month EUR-LIBOR	A/Q	LCH		11/21/23		EUR 16,000,000		(499,839	)		(406,008	)		(93,831	)
0.700%	6-Month EUR-LIBOR	A/S	LCH		04/11/27		700,000		(69,908	)		(71,904	)		1,996
0.650%	6-Month EUR-LIBOR	A/S	LCH		04/12/27		1,400,000		(143,756	)		(146,611	)		2,855
0.650%	6-Month EUR-LIBOR	A/S	LCH		05/11/27		900,000		(93,664	)		(95,906	)		2,242
1.000%	6-Month EUR-LIBOR	A/S	LCH		05/13/27		1,600,000		(137,840	)		(148,192	)		10,352
1.000%	6-Month EUR-LIBOR	A/S	LCH		05/18/27		700,000		(60,280	)		(64,959	)		4,679
1.954%	U.S. CPI Urban Consumers	Z/Z	LCH		06/03/29		$2,350,000		(329,336	)		(305,429	)		(23,907	)
1.998%	U.S. CPI Urban Consumers	Z/Z	LCH		07/25/29		7,700,000		(1,030,443	)		(954,413	)		(76,030	)
1.760%	U.S. CPI Urban Consumers	Z/Z	LCH		11/04/29		3,100,000		(494,096	)		(462,962	)		(31,134	)
1.883%	U.S. CPI Urban Consumers	Z/Z	LCH		11/20/29		700,000		(103,595	)		(96,657	)		(6,938	)
1.380%	Eurostat Eurozone HICP	Z/Z	LCH		03/15/31		EUR 5,300,000		(1,182,697	)		(1,165,781	)		(16,916	)
2.879%	6-Month EUR-LIBOR	A/S	LCH		08/15/32		7,600,000		(41,270	)		-			(41,270	)
0.000%	6-Month EUR-LIBOR	A/S	LCH		11/04/32		9,200,000		(2,513,329	)		(2,467,362	)		(45,967	)
0.000%	6-Month EUR-LIBOR	A/S	LCH		11/08/32		8,300,000		(2,270,258	)		(2,228,873	)		(41,385	)
2.547%	6-Month EUR-LIBOR	A/S	LCH		03/09/33		1,300,000		(50,449	)		(65,475	)		15,026
3.000%	6-Month EUR-LIBOR	A/S	LCH		09/20/33		4,900,000		30,401			(35,398	)		65,799
3.085%	1-Day USD-SOFR	A/A	LCH		02/13/34		$21,200,000		110,153			(342,581	)		452,734
2.488%	Eurostat Eurozone HICP	Z/Z	LCH		05/15/37		EUR1,620,000		(98,808	)		(101,271	)		2,463
2.421%	Eurostat Eurozone HICP	Z/Z	LCH		05/15/52		240,000		(32,322	)		(30,243	)		(2,079	)
2.590%	Eurostat Eurozone HICP	Z/Z	LCH		12/15/52		900,000		(25,223	)		(20,415	)		(4,808	)
1.888%	3-Month USD-LIBOR	S/Q	LCH		11/21/53		$1,100,000		(263,550	)		(290,124	)		26,574
									($9,330,725	)		($9,517,179	)		$186,454

Interest Rate Swaps - Short

Pay	Receive	Payment Frequency Pay Rate/ Receive Rate	Exchange	Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
2.263%	U.S. CPI Urban Consumers	Z/Z	LCH		04/27/23		$5,320,000		$475,316			$468,963			$6,353
2.263%	U.S. CPI Urban Consumers	Z/Z	LCH		05/09/23		1,150,000		103,795			102,030			1,765
2.281%	U.S. CPI Urban Consumers	Z/Z	LCH		05/10/23		1,760,000		157,244			154,514			2,730
0.550%	6-Month EUR-LIBOR	A/S	LCH		08/10/24		EUR 200,000		(8,507	)		(8,508	)		1
2.314%	U.S. CPI Urban Consumers	Z/Z	LCH		02/26/26		$2,100,000		212,104			203,223			8,881

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

43

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Pay	Receive	Payment Frequency Pay Rate/ Receive Rate	Exchange		Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
2.419%	U.S. CPI Urban Consumers	Z/Z		LCH		03/05/26		$ 2,800,000		$ 268,420			$ 255,476			$ 12,944
2.768%	U.S. CPI Urban Consumers	Z/Z		LCH		05/13/26		1,700,000		127,945			118,816			9,129
2.813%	U.S. CPI Urban Consumers	Z/Z		LCH		05/14/26		1,000,000		72,915			67,532			5,383
2.703%	U.S. CPI Urban Consumers	Z/Z		LCH		05/25/26		1,210,000		93,915			86,786			7,129
2.965%	Eurostat Eurozone HICP	Z/Z		LCH		05/15/27		EUR 800,000		28,812			30,996			(2,184	)
3.000%	Eurostat Eurozone HICP	Z/Z		LCH		05/15/27		1,300,000		44,350			47,984			(3,634	)
3.130%	Eurostat Eurozone HICP	Z/Z		LCH		05/15/27		300,000		8,112			9,023			(911	)
1.798%	U.S. CPI Urban Consumers	Z/Z		LCH		08/25/27		$900,000		135,426			129,014			6,412
1.890%	U.S. CPI Urban Consumers	Z/Z		LCH		08/27/27		1,000,000		143,999			136,950			7,049
0.300%	1-Day JPY-TONAR	S/S		LCH		09/20/27		JPY 377,560,000		5,833			(4,347	)		10,180
3.250%	3-Month NZD Bank Bills	S/Q		CME		03/21/28		NZD 3,500,000		114,596			149,437			(34,841	)
2.573%	U.S. CPI Urban Consumers	Z/Z		LCH		08/26/28		$400,000		26,826			23,914			2,912
2.645%	U.S. CPI Urban Consumers	Z/Z		LCH		09/10/28		500,000		29,724			26,277			3,447
1.840%	3-Month USD-LIBOR	S/Q		LCH		11/21/28		5,500,000		374,832			442,298			(67,466	)
2.311%	U.S. CPI Urban Consumers	Z/Z		LCH		02/24/31		5,100,000		583,370			535,506			47,864
2.600%	Eurostat Eurozone HICP	Z/Z		LCH		05/15/32		EUR 1,500,000		67,558			71,769			(4,211	)
2.720%	Eurostat Eurozone HICP	Z/Z		LCH		06/15/32		1,400,000		22,194			27,531			(5,337	)
2.470%	Eurostat Eurozone HICP	Z/Z		LCH		07/15/32		800,000		33,122			35,407			(2,285	)
0.190%	6-Month EUR-LIBOR	A/S		LCH		11/04/52		1,500,000		766,258			755,767			10,491
0.195%	6-Month EUR-LIBOR	A/S		LCH		11/04/52		1,550,000		790,085			779,315			10,770
0.197%	6-Month EUR-LIBOR	A/S		LCH		11/08/52		2,800,000		1,426,452			1,407,046			19,406
2.500%	6-Month EUR-LIBOR	A/S		LCH		09/20/53		2,700,000		(21,432	)		15,991			(37,423	)
2.865%	1-Day USD-SOFR	A/A		LCH		02/13/54		$9,400,000		(50,303	)		240,548			(290,851	)
										$6,032,961			$6,309,258			($276,297	)
Total Interest Rate Swaps										($3,297,764	)		($3,207,921	)		($89,843	)

Total Return Swaps - Long

Receive	Pay	Payment Frequency Receive Rate/ Pay Rate	Counter- party	Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
U.S. Treasury Inflation Protected Securities 0.375% due 07/15/23	4.770%	Z	MSC		04/21/23		$5,000,000		$45,223			$-			$45,223
U.S. Treasury Inflation Protected Securities 0.625% due 01/15/24	4.770%	Z	MSC		04/21/23		15,000,000		155,698			-			155,698
U.S. Treasury Inflation Protected Securities 0.500% due 04/15/24	4.770%	Z	MSC		04/21/23		5,000,000		39,403			-			39,403
U.S. Treasury Inflation Protected Securities 0.125% due 10/15/24	4.770%	Z	MSC		04/21/23		10,000,000		65,249			-			65,249
U.S. Treasury Inflation Protected Securities 0.250% due 01/15/25	4.770%	Z	MSC		04/21/23		10,000,000		96,467			-			96,467
U.S. Treasury Inflation Protected Securities 0.125% due 04/15/25	4.770%	Z	MSC		04/21/23		15,000,000		107,412			-			107,412
U.S. Treasury Inflation Protected Securities 0.375% due 01/15/27	4.770%	Z	MSC		04/21/23		20,000,000		105,809			-			105,809
U.S. Treasury Inflation Protected Securities 0.375% due 07/15/27	4.770%	Z	MSC		04/21/23		30,000,000		177,909			-			177,909
U.S. Treasury Inflation Protected Securities 0.125% due 07/15/31	4.770%	Z	MSC		04/21/23		20,000,000		110,323			-			110,323
U.S. Treasury Inflation Protected Securities 0.625% due 01/15/26	4.930%	Z	MSC		06/06/23		10,000,000		143,711			-			143,711
U.S. Treasury Inflation Protected Securities 0.750% due 07/15/28	4.930%	Z	MSC		06/06/23		25,000,000		498,078			-			498,078
U.S. Treasury Inflation Protected Securities 0.125% due 01/15/32	4.930%	Z	MSC		06/06/23		30,000,000		586,861			-			586,861
									$2,132,143			$-			$2,132,143
Total Swap Agreements									($1,163,949	)		($3,206,581	)		$2,042,632

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

44

PACIFIC SELECT FUND

INFLATION MANAGED PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(g) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023			Level 1 Quoted Price			Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Assets	Corporate Bonds & Notes		$20,381,101			$-			$20,381,101			$-
	Mortgage-Backed Securities		45,533,668			-			45,533,668			-
	Asset-Backed Securities		61,698,105			-			61,698,105			-
	U.S. Treasury Obligations		479,699,707			-			479,699,707			-
	Foreign Government Bonds & Notes		43,087,604			-			43,087,604			-
	Short-Term Investments		77,906,903			-			77,906,903			-
	Derivatives:
	Credit Contracts
	Swaps		332			-			332			-
	Foreign Currency Contracts
	Forward Foreign Currency Contracts		394,664			-			394,664			-
	Interest Rate Contracts
	Futures		1,027,523			1,027,523			-			-
	Purchased Options		764,846			-			764,846			-
	Swaps		2,889,709			-			2,889,709			-
	Total Interest Rate Contracts		4,682,078			1,027,523			3,654,555			-
	Total Asset - Derivatives		5,077,074			1,027,523			4,049,551			-
	Total Assets		733,384,162			1,027,523			732,356,639			-
Liabilities	Sale-buyback Financing Transactions		(232,410,918	)		-			(232,410,918	)		-
	Derivatives:
	Foreign Currency Contracts
	Forward Foreign Currency Contracts		(1,807,260	)		-			(1,807,260	)		-
	Interest Rate Contracts
	Futures		(5,353,864	)		(5,353,864	)		-			-
	Written Options		(1,223,255	)		-			(1,223,255	)		-
	Swaps		(847,409	)		-			(847,409	)		-
	Total Interest Rate Contracts		(7,424,528	)		(5,353,864	)		(2,070,664	)		-
	Total Liabilities - Derivatives		(9,231,788	)		(5,353,864	)		(3,877,924	)		-
	Total Liabilities		(241,642,706	)		(5,353,864	)		(236,288,842	)		-
	Total		$491,741,456			($4,326,341	)		$496,067,797			$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

45

PACIFIC SELECT FUND

INTERMEDIATE BOND PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Principal Amount		Value
CORPORATE BONDS & NOTES - 25.9%
Basic Materials - 0.5%
Anglo American Capital PLC (South Africa) 3.625% due 09/11/24 ~		$1,200,000		$1,171,776
CF Industries, Inc. 4.950% due 06/01/43		960,000		829,592
DuPont de Nemours, Inc. 5.319% due 11/15/38		685,000		690,437
Glencore Funding LLC (Australia) 2.500% due 09/01/30 ~		760,000		637,070
International Flavors & Fragrances, Inc. 2.300% due 11/01/30 ~		1,126,000		904,439
LYB International Finance III LLC 1.250% due 10/01/25		329,000		298,228
Nutrien Ltd. (Canada) 5.000% due 04/01/49		375,000		344,717
Steel Dynamics, Inc. 1.650% due 10/15/27		750,000		644,423
Vale Overseas Ltd. (Brazil) 3.750% due 07/08/30		780,000		699,672
				6,220,354
Communications - 1.4%
Amazon.com, Inc.
3.875% due 08/22/37		800,000		745,176
3.950% due 04/13/52		875,000		777,563
AT&T, Inc.
2.750% due 06/01/31		3,100,000		2,672,848
3.550% due 09/15/55		1,434,000		1,031,153
Charter Communications Operating LLC/Charter Communications Operating Capital
2.800% due 04/01/31		3,050,000		2,456,648
3.500% due 06/01/41		1,285,000		882,932
3.700% due 04/01/51		860,000		551,445
Comcast Corp.
2.650% due 02/01/30		1,500,000		1,336,859
2.800% due 01/15/51		736,000		497,859
3.250% due 11/01/39		1,970,000		1,600,707
Corning, Inc. 5.750% due 08/15/40		300,000		316,812
Cox Communications, Inc. 2.950% due 10/01/50 ~		555,000		356,581
Deutsche Telekom AG (Germany) 3.625% due 01/21/50 ~		700,000		544,164
Discovery Communications LLC 3.625% due 05/15/30		980,000		869,752
Paramount Global 2.900% due 01/15/27		575,000		524,340
Verizon Communications, Inc.
2.650% due 11/20/40		2,046,000		1,462,506
3.700% due 03/22/61		600,000		448,384
Walt Disney Co. 2.650% due 01/13/31		600,000		530,406
				17,606,135
Consumer, Cyclical - 2.4%
7-Eleven, Inc.
1.800% due 02/10/31 ~		1,780,000		1,411,530
2.500% due 02/10/41 ~		283,000		191,403
Alimentation Couche-Tard, Inc. (Canada) 3.625% due 05/13/51 ~		875,000		614,008
American Airlines Pass-Through Trust Class A 3.650% due 12/15/29		1,165,590		1,008,778
American Airlines Pass-Through Trust Class AA 3.200% due 12/15/29		1,496,560		1,345,703

	Principal Amount		Value
American Airlines Pass-Through Trust Class B 3.950% due 01/11/32		$ 2,159,255		$ 1,900,202
Delta Air Lines Pass-Through Trust Class A 2.500% due 12/10/29		1,973,188		1,733,390
Delta Air Lines Pass-Through Trust Class B 4.250% due 01/30/25		475,742		471,262
General Motors Financial Co., Inc.
1.200% due 10/15/24		1,600,000		1,498,460
3.800% due 04/07/25		390,000		379,422
4.350% due 01/17/27		230,000		223,060
Hasbro, Inc. 3.900% due 11/19/29		682,000		621,443
Home Depot, Inc. 4.950% due 09/15/52		625,000		625,196
Hyundai Capital America
1.300% due 01/08/26 ~		1,825,000		1,639,705
1.800% due 01/10/28 ~		395,000		335,219
2.650% due 02/10/25 ~		600,000		572,544
JetBlue Pass-Through Trust 7.750% due 05/15/30		1,131,592		1,134,980
Lear Corp. 2.600% due 01/15/32		265,000		207,691
Lennar Corp. 4.500% due 04/30/24		195,000		192,723
Lowe’s Cos., Inc. 4.500% due 04/15/30		1,000,000		988,671
MDC Holdings, Inc. 2.500% due 01/15/31		530,000		412,697
O’Reilly Automotive, Inc. 3.900% due 06/01/29		1,135,000		1,083,960
Starbucks Corp.
2.550% due 11/15/30		2,000,000		1,741,623
3.350% due 03/12/50		565,000		421,837
4.800% due 02/15/33		1,200,000		1,211,845
Stellantis Finance US, Inc. 1.711% due 01/29/27 ~		791,000		700,292
Tractor Supply Co. 1.750% due 11/01/30		1,000,000		796,431
United Airlines Pass-Through Trust Class A
3.100% due 04/07/30		470,842		408,132
3.700% due 09/01/31		1,188,261		1,029,566
United Airlines Pass-Through Trust Class B
3.650% due 04/07/27		1,249,294		1,161,076
3.650% due 07/07/27		1,738,148		1,622,756
Volkswagen Group of America Finance LLC (Germany) 1.250% due 11/24/25 ~		1,500,000		1,365,402
				29,051,007
Consumer, Non-Cyclical - 3.4%
AbbVie, Inc.
3.200% due 11/21/29		1,675,000		1,555,081
4.050% due 11/21/39		2,120,000		1,896,422
4.250% due 11/21/49		910,000		803,872
Altria Group, Inc. 2.450% due 02/04/32		835,000		657,926
Amgen, Inc.
3.150% due 02/21/40		1,125,000		883,696
5.250% due 03/02/33		995,000		1,022,806
5.600% due 03/02/43		1,260,000		1,299,118
5.650% due 03/02/53		535,000		557,318
AstraZeneca PLC (United Kingdom) 6.450% due 09/15/37		205,000		242,049
Baptist Healthcare System Obligated Group 3.540% due 08/15/50		540,000		407,974
BAT Capital Corp. (United Kingdom) 2.259% due 03/25/28		3,125,000		2,681,505
Bon Secours Mercy Health, Inc. 3.205% due 06/01/50		700,000		496,766

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

46

PACIFIC SELECT FUND

INTERMEDIATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Boston Scientific Corp.
4.550% due 03/01/39		$ 167,000		$ 157,246
6.750% due 11/15/35		215,000		243,465
Bristol-Myers Squibb Co. 4.125% due 06/15/39		1,000,000		932,336
Bunge Ltd. Finance Corp. 2.750% due 05/14/31		805,000		685,186
CommonSpirit Health
2.782% due 10/01/30		1,065,000		905,885
3.910% due 10/01/50		650,000		505,006
CVS Health Corp.
4.875% due 07/20/35		850,000		830,104
5.050% due 03/25/48		430,000		402,682
5.250% due 02/21/33		900,000		918,902
CVS Pass-Through Trust 4.163% due 08/11/36 ~		485,040		440,096
DH Europe Finance II SARL 3.250% due 11/15/39		285,000		238,058
Elevance Health, Inc. 2.250% due 05/15/30		1,135,000		975,168
Gilead Sciences, Inc.
1.650% due 10/01/30		1,125,000		926,641
2.600% due 10/01/40		675,000		498,321
Global Payments, Inc.
3.200% due 08/15/29		1,234,000		1,086,580
5.300% due 08/15/29		285,000		281,733
Haleon US Capital LLC 3.375% due 03/24/29		300,000		276,911
HCA, Inc.
5.250% due 06/15/26		2,430,000		2,433,609
5.500% due 06/15/47		700,000		658,167
Kellogg Co. 5.250% due 03/01/33		775,000		795,913
Keurig Dr Pepper, Inc. 3.200% due 05/01/30		400,000		365,266
Kraft Heinz Foods Co.
4.375% due 06/01/46		360,000		313,951
4.625% due 10/01/39		640,000		587,331
Kroger Co. 1.700% due 01/15/31		1,300,000		1,035,036
MedStar Health, Inc. 3.626% due 08/15/49		520,000		379,965
MultiCare Health System 2.803% due 08/15/50		560,000		346,542
MyMichigan Health 3.409% due 06/01/50		1,000,000		723,857
Nationwide Children’s Hospital, Inc. 4.556% due 11/01/52		150,000		142,304
PeaceHealth Obligated Group 3.218% due 11/15/50		655,000		465,913
Piedmont Healthcare, Inc. 2.864% due 01/01/52		515,000		334,502
Quanta Services, Inc. 2.350% due 01/15/32		890,000		707,131
Regeneron Pharmaceuticals, Inc. 1.750% due 09/15/30		1,125,000		910,904
Royalty Pharma PLC 2.150% due 09/02/31		84,000		66,437
S&P Global, Inc. 2.700% due 03/01/29		853,000		776,419
Smithfield Foods, Inc. 3.000% due 10/15/30 ~		1,025,000		818,582
Takeda Pharmaceutical Co. Ltd. (Japan) 3.025% due 07/09/40		1,695,000		1,294,964
Thermo Fisher Scientific, Inc. 2.000% due 10/15/31		835,000		696,644
Triton Container International Ltd. (Bermuda) 2.050% due 04/15/26 ~		1,100,000		977,214
Tyson Foods, Inc. 3.550% due 06/02/27		850,000		811,169
UnitedHealth Group, Inc.
2.750% due 05/15/40		945,000		715,597

	Principal Amount		Value
3.250% due 05/15/51		$ 525,000		$ 395,192
5.875% due 02/15/53		420,000		472,824
Universal Health Services, Inc. 2.650% due 10/15/30		50,000		40,127
University of Miami 4.063% due 04/01/52		240,000		206,275
Verisk Analytics, Inc. 5.750% due 04/01/33		660,000		693,416
Viatris, Inc. 3.850% due 06/22/40		340,000		238,937
Zoetis, Inc. 5.600% due 11/16/32		715,000		763,038
				41,976,079
Energy - 1.9%
Aker BP ASA (Norway) 2.000% due 07/15/26 ~		307,000		276,378
BG Energy Capital PLC (United Kingdom) 5.125% due 10/15/41 ~		280,000		273,069
Boardwalk Pipelines LP 4.450% due 07/15/27		480,000		468,064
BP Capital Markets America, Inc.
3.633% due 04/06/30		1,685,000		1,599,932
4.812% due 02/13/33		860,000		873,550
Coterra Energy, Inc. 3.900% due 05/15/27		495,000		472,774
DT Midstream, Inc. 4.300% due 04/15/32 ~		790,000		708,988
Enbridge, Inc. (Canada) 5.700% due 03/08/33		700,000		728,520
Energy Transfer LP
3.900% due 07/15/26		2,470,000		2,377,227
4.150% due 09/15/29		605,000		565,922
6.100% due 02/15/42		455,000		446,095
Eni SpA (Italy) 4.000% due 09/12/23 ~		590,000		585,261
Enterprise Products Operating LLC 3.700% due 02/15/26		740,000		722,973
Exxon Mobil Corp. 4.114% due 03/01/46		1,060,000		957,268
Flex Intermediate Holdco LLC
3.363% due 06/30/31 ~		475,000		390,768
4.317% due 12/30/39 ~		335,000		255,298
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates) 2.940% due 09/30/40 ~		522,418		424,457
Gray Oak Pipeline LLC 2.600% due 10/15/25 ~		1,685,000		1,563,119
HF Sinclair Corp.
2.625% due 10/01/23		540,000		531,490
5.875% due 04/01/26		842,000		851,502
Kinder Morgan, Inc. 5.050% due 02/15/46		310,000		273,907
MPLX LP 4.500% due 04/15/38		580,000		516,062
NGPL PipeCo LLC 3.250% due 07/15/31 ~		860,000		730,665
Phillips 66 5.300% due 06/30/33		620,000		628,806
Phillips 66 Co. 3.550% due 10/01/26 ~		560,000		534,622
Pioneer Natural Resources Co. 1.900% due 08/15/30		760,000		619,176
Sabine Pass Liquefaction LLC
4.500% due 05/15/30		300,000		289,525
5.625% due 03/01/25		1,130,000		1,137,628
Saudi Arabian Oil Co. (Saudi Arabia) 1.625% due 11/24/25 ~		200,000		185,472
Shell International Finance BV (Netherlands) 2.375% due 11/07/29		1,135,000		1,007,424

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

47

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INTERMEDIATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Suncor Energy, Inc. (Canada) 5.950% due 12/01/34		$ 690,000		$ 713,230
Targa Resources Corp. 4.200% due 02/01/33		190,000		171,052
TotalEnergies Capital International SA (France) 2.986% due 06/29/41		1,130,000		885,581
				22,765,805
Financial - 10.6%
ABN AMRO Bank NV (Netherlands) 2.470% due 12/13/29 ~		400,000		336,593
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
2.450% due 10/29/26		470,000		422,414
3.300% due 01/30/32		550,000		456,056
4.500% due 09/15/23		1,000,000		990,671
6.500% due 07/15/25		300,000		302,414
AIB Group PLC (Ireland) 4.263% due 04/10/25 ~		600,000		587,455
Air Lease Corp.
2.875% due 01/15/26		610,000		569,184
3.375% due 07/01/25		2,555,000		2,436,241
Alexandria Real Estate Equities, Inc. REIT 3.375% due 08/15/31		1,130,000		1,003,521
American International Group, Inc. 4.375% due 06/30/50		770,000		658,850
American Tower Corp. REIT
2.950% due 01/15/51		229,000		146,902
3.100% due 06/15/50		351,000		230,834
Athene Global Funding
0.950% due 01/08/24 ~		772,000		739,210
1.450% due 01/08/26 ~		905,000		802,077
2.500% due 01/14/25 ~		1,418,000		1,339,127
2.500% due 03/24/28 ~		885,000		745,788
Australia & New Zealand Banking Group Ltd. (Australia) 4.400% due 05/19/26 ~		1,140,000		1,101,934
Aviation Capital Group LLC 5.500% due 12/15/24 ~		1,000,000		988,019
Avolon Holdings Funding Ltd. (Ireland)
2.125% due 02/21/26 ~		305,000		271,388
2.528% due 11/18/27 ~		5,605,000		4,747,894
4.250% due 04/15/26 ~		765,000		720,117
Banco Santander SA (Spain)
1.722% due 09/14/27		200,000		174,786
1.849% due 03/25/26		2,000,000		1,795,897
5.147% due 08/18/25		400,000		393,004
Bank of America Corp.
1.197% due 10/24/26		1,385,000		1,244,989
2.676% due 06/19/41		1,900,000		1,345,755
3.705% due 04/24/28		6,445,000		6,097,499
4.376% due 04/27/28		740,000		716,401
5.080% due 01/20/27		900,000		897,874
Bank of Ireland Group PLC (Ireland)
2.029% due 09/30/27 ~		1,212,000		1,050,018
6.253% due 09/16/26 ~		903,000		898,500
Bank of Nova Scotia (Canada) 4.850% due 02/01/30		1,081,000		1,068,425
Banque Federative du Credit Mutuel SA (France) 1.604% due 10/04/26 ~		1,365,000		1,199,417
Barclays PLC (United Kingdom)
1.007% due 12/10/24		1,341,000		1,292,606
2.894% due 11/24/32		358,000		287,334
Berkshire Hathaway Finance Corp. 3.850% due 03/15/52		1,285,000		1,078,399
BNP Paribas SA (France)
1.904% due 09/30/28 ~		550,000		468,178
2.159% due 09/15/29 ~		874,000		729,225
BPCE SA (France)
1.652% due 10/06/26 ~		1,670,000		1,501,870

	Principal Amount		Value
3.116% due 10/19/32 ~		$ 660,000		$ 495,364
5.975% due 01/18/27 ~		1,810,000		1,807,074
Brixmor Operating Partnership LP REIT
2.250% due 04/01/28		400,000		343,659
2.500% due 08/16/31		260,000		201,139
4.125% due 05/15/29		600,000		550,204
Brookfield Finance, Inc. (Canada) 3.500% due 03/30/51		1,200,000		801,036
Brown & Brown, Inc. 2.375% due 03/15/31		1,125,000		900,129
Camden Property Trust REIT 3.150% due 07/01/29		1,100,000		979,169
Capital One Financial Corp. 3.800% due 01/31/28		1,930,000		1,772,039
Citigroup, Inc.
2.520% due 11/03/32		225,000		183,330
3.057% due 01/25/33		1,909,000		1,616,917
3.520% due 10/27/28		1,140,000		1,066,500
Commonwealth Bank of Australia (Australia) 3.305% due 03/11/41 ~		660,000		466,671
Corebridge Financial, Inc.
3.650% due 04/05/27 ~		985,000		924,053
3.850% due 04/05/29 ~		270,000		246,783
Credit Agricole SA (France)
2.811% due 01/11/41 ~		250,000		167,200
4.375% due 03/17/25 ~		1,125,000		1,081,444
Credit Suisse AG (Switzerland)
1.250% due 08/07/26		925,000		782,781
3.700% due 02/21/25		500,000		475,215
7.950% due 01/09/25		1,117,000		1,136,838
Credit Suisse Group AG (Switzerland)
2.593% due 09/11/25 ~		339,000		314,829
3.091% due 05/14/32 ~		745,000		600,820
4.282% due 01/09/28 ~		1,135,000		1,025,756
Crown Castle, Inc. REIT 2.900% due 04/01/41		2,000,000		1,428,260
Danske Bank AS (Denmark) 6.466% due 01/09/26 ~		460,000		460,739
Deutsche Bank AG (Germany)
2.129% due 11/24/26		1,220,000		1,052,397
6.720% due 01/18/29		365,000		362,743
DNB Bank ASA (Norway) 1.605% due 03/30/28 ~		805,000		704,207
Empower Finance 2020 LP (Canada) 3.075% due 09/17/51 ~		625,000		408,559
Equinix, Inc. REIT 2.900% due 11/18/26		840,000		781,688
F&G Global Funding 1.750% due 06/30/26 ~		460,000		413,983
Federal Realty Investment Trust REIT 1.250% due 02/15/26		785,000		716,857
Federation des Caisses Desjardins du Quebec (Canada)
4.400% due 08/23/25 ~		745,000		727,180
5.700% due 03/14/28 ~		800,000		820,058
Goldman Sachs Group, Inc.
1.431% due 03/09/27		925,000		828,572
1.948% due 10/21/27		2,713,000		2,426,393
2.640% due 02/24/28		716,000		653,775
3.691% due 06/05/28		1,785,000		1,692,584
4.250% due 10/21/25		1,850,000		1,796,699
Healthcare Realty Holdings LP REIT 2.000% due 03/15/31		1,125,000		879,165
Healthpeak OP LLC REIT
2.125% due 12/01/28		813,000		705,938
2.875% due 01/15/31		1,130,000		970,891
HSBC Holdings PLC (United Kingdom)
2.013% due 09/22/28		4,175,000		3,579,854
2.206% due 08/17/29		495,000		415,420
Huntington National Bank 5.650% due 01/10/30		1,293,000		1,240,057
ING Groep NV (Netherlands) 1.726% due 04/01/27		675,000		600,349

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

48

PACIFIC SELECT FUND

INTERMEDIATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
KeyCorp 4.789% due 06/01/33		$ 115,000		$ 103,069
Life Storage LP REIT 2.400% due 10/15/31		1,230,000		992,881
Lloyds Banking Group PLC (United Kingdom)
1.627% due 05/11/27		590,000		519,006
4.716% due 08/11/26		1,150,000		1,120,508
LSEGA Financing PLC (United Kingdom) 2.000% due 04/06/28 ~		1,160,000		996,601
Macquarie Group Ltd. (Australia)
1.340% due 01/12/27 ~		1,075,000		960,064
2.871% due 01/14/33 ~		600,000		486,507
6.207% due 11/22/24 ~		2,736,000		2,781,923
Mitsubishi UFJ Financial Group, Inc. (Japan)
1.538% due 07/20/27		500,000		442,860
3.741% due 03/07/29		2,065,000		1,933,454
5.441% due 02/22/34		560,000		566,249
Mizuho Financial Group, Inc. (Japan)
1.234% due 05/22/27		515,000		453,622
5.414% due 09/13/28		2,440,000		2,452,359
Morgan Stanley
2.475% due 01/21/28		1,600,000		1,462,946
3.217% due 04/22/42		805,000		622,482
4.457% due 04/22/39		855,000		782,595
5.123% due 02/01/29		440,000		443,838
Natwest Group PLC (United Kingdom)
4.445% due 05/08/30		515,000		484,017
4.892% due 05/18/29		1,400,000		1,345,484
NatWest Markets PLC (United Kingdom) 1.600% due 09/29/26 ~		1,000,000		873,998
New York Life Insurance Co. 3.750% due 05/15/50 ~		1,140,000		922,731
Nordea Bank Abp (Finland) 5.375% due 09/22/27 ~		580,000		583,181
Northwestern Mutual Global Funding 1.700% due 06/01/28 ~		490,000		422,078
Physicians Realty LP REIT 2.625% due 11/01/31		315,000		248,489
PNC Financial Services Group, Inc. 5.068% due 01/24/34		503,000		496,615
Public Storage REIT
1.950% due 11/09/28		382,000		335,793
2.250% due 11/09/31		320,000		265,766
Realty Income Corp. REIT
1.800% due 03/15/33		705,000		524,222
4.850% due 03/15/30		810,000		798,784
Sabra Health Care LP REIT 3.200% due 12/01/31		515,000		378,292
Santander UK Group Holdings PLC (United Kingdom)
1.532% due 08/21/26		1,000,000		893,013
1.673% due 06/14/27		560,000		488,016
6.534% due 01/10/29		1,400,000		1,424,630
6.833% due 11/21/26		706,000		715,750
Scentre Group Trust 1/Scentre Group Trust 2 REIT (Australia) 3.625% due 01/28/26 ~		1,225,000		1,173,980
Societe Generale SA (France)
1.792% due 06/09/27 ~		455,000		394,948
4.250% due 04/14/25 ~		1,935,000		1,816,120
Standard Chartered PLC (United Kingdom)
1.214% due 03/23/25 ~		2,520,000		2,414,210
1.456% due 01/14/27 ~		565,000		496,830
Sumitomo Mitsui Financial Group, Inc. (Japan) 5.520% due 01/13/28		1,600,000		1,627,903
Teachers Insurance & Annuity Association of America 3.300% due 05/15/50 ~		555,000		401,291
Truist Financial Corp. 5.122% due 01/26/34		520,000		507,554
UBS Group AG (Switzerland)
1.494% due 08/10/27 ~		250,000		215,541

	Principal Amount		Value
2.095% due 02/11/32 ~		$ 1,320,000		$ 1,025,663
4.703% due 08/05/27 ~		835,000		800,053
UDR, Inc. REIT
1.900% due 03/15/33		185,000		138,530
2.100% due 08/01/32		1,130,000		873,542
UniCredit SpA (Italy)
1.982% due 06/03/27 ~		1,440,000		1,258,210
5.861% due 06/19/32 ~		315,000		278,080
Wells Fargo & Co.
2.393% due 06/02/28		1,600,000		1,441,804
4.611% due 04/25/53		780,000		692,915
Welltower OP LLC REIT 2.800% due 06/01/31		1,200,000		997,893
Westpac Banking Corp. (Australia)
3.133% due 11/18/41		541,000		373,422
5.405% due 08/10/33		780,000		746,260
WP Carey, Inc. REIT
2.250% due 04/01/33		325,000		247,975
2.400% due 02/01/31		1,130,000		923,408
				130,610,139
Industrial - 1.3%
BAE Systems PLC (United Kingdom) 3.400% due 04/15/30 ~		935,000		858,908
Boeing Co.
2.700% due 02/01/27		2,115,000		1,949,756
2.750% due 02/01/26		162,000		153,817
3.100% due 05/01/26		2,537,000		2,404,253
CRH America, Inc. () 3.875% due 05/18/25 ~		450,000		437,887
CSX Corp. 3.800% due 11/01/46		1,000,000		822,762
Graphic Packaging International LLC 1.512% due 04/15/26 ~		594,000		529,833
Kansas City Southern 4.700% due 05/01/48		1,500,000		1,377,592
Masco Corp. 2.000% due 10/01/30		1,125,000		900,006
Norfolk Southern Corp. 3.050% due 05/15/50		400,000		277,947
Northrop Grumman Corp. 3.850% due 04/15/45		1,120,000		940,604
Otis Worldwide Corp. 3.112% due 02/15/40		500,000		388,424
Penske Truck Leasing Co. LP/PTL Finance Corp. 1.200% due 11/15/25 ~		1,365,000		1,227,874
Raytheon Technologies Corp.
2.250% due 07/01/30		975,000		835,790
3.750% due 11/01/46		1,530,000		1,267,829
5.150% due 02/27/33		604,000		628,933
Siemens Financieringsmaatschappij NV (Denmark) 3.300% due 09/15/46 ~		860,000		678,737
Union Pacific Corp. 3.550% due 08/15/39		765,000		650,674
				16,331,626
Technology - 1.7%
Analog Devices, Inc. 2.800% due 10/01/41		259,000		197,940
Apple, Inc. 3.950% due 08/08/52		2,000,000		1,795,266
Broadcom, Inc.
1.950% due 02/15/28 ~		2,800,000		2,437,279
3.187% due 11/15/36 ~		148,000		112,282
CGI, Inc. (Canada) 2.300% due 09/14/31		925,000		732,916
Dell International LLC/EMC Corp. 6.200% due 07/15/30		695,000		725,180

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

49

PACIFIC SELECT FUND

INTERMEDIATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Intel Corp.
4.900% due 08/05/52		$ 780,000		$ 727,458
5.625% due 02/10/43		160,000		164,110
5.700% due 02/10/53		270,000		275,869
KLA Corp. 3.300% due 03/01/50		1,455,000		1,114,007
Leidos, Inc. 2.300% due 02/15/31		1,185,000		962,266
Microchip Technology, Inc.
0.983% due 09/01/24		186,000		175,640
2.670% due 09/01/23		218,000		214,972
NXP BV/NXP Funding LLC/NXP USA, Inc. (China)
2.500% due 05/11/31		1,870,000		1,547,082
3.250% due 05/11/41		895,000		653,069
Oracle Corp.
3.800% due 11/15/37		575,000		478,083
3.950% due 03/25/51		645,000		486,306
4.900% due 02/06/33		850,000		832,900
5.550% due 02/06/53		600,000		571,981
QUALCOMM, Inc. 4.500% due 05/20/52		300,000		279,918
Roper Technologies, Inc. 1.750% due 02/15/31		825,000		659,991
Take-Two Interactive Software, Inc. 3.700% due 04/14/27		886,000		857,494
TSMC Global Ltd. (Taiwan) 1.375% due 09/28/30 ~		1,385,000		1,106,587
VMware, Inc.
1.400% due 08/15/26		1,028,000		909,782
4.700% due 05/15/30		2,415,000		2,345,623
				20,364,001
Utilities - 2.7%
Alexander Funding Trust 1.841% due 11/15/23 ~		800,000		776,233
APA Infrastructure Ltd. (Australia) 4.200% due 03/23/25 ~		450,000		441,035
Atmos Energy Corp. 1.500% due 01/15/31		705,000		563,277
CenterPoint Energy Resources Corp. 1.750% due 10/01/30		560,000		453,119
Commonwealth Edison Co. 3.650% due 06/15/46		1,300,000		1,032,057
Constellation Energy Generation LLC
3.250% due 06/01/25		2,330,000		2,247,692
5.800% due 03/01/33		819,000		845,386
Consumers Energy Co. 3.250% due 08/15/46		265,000		198,644
Dominion Energy, Inc. 3.300% due 04/15/41		1,000,000		772,501
DTE Electric Co. 3.250% due 04/01/51		500,000		372,677
Duke Energy Corp. 3.750% due 09/01/46		1,500,000		1,168,776
Duke Energy Indiana LLC 3.250% due 10/01/49		395,000		289,661
Duquesne Light Holdings, Inc. 2.775% due 01/07/32 ~		800,000		646,977
Edison International 5.750% due 06/15/27		255,000		260,652
Emera US Finance LP (Canada) 4.750% due 06/15/46		550,000		447,046
Entergy Arkansas LLC 2.650% due 06/15/51		995,000		645,761
Entergy Louisiana LLC
2.900% due 03/15/51		260,000		177,497
4.000% due 03/15/33		430,000		402,949
Evergy, Inc. 2.900% due 09/15/29		1,160,000		1,040,625
Fells Point Funding Trust 3.046% due 01/31/27 ~		1,370,000		1,272,309

	Principal Amount		Value
FirstEnergy Transmission LLC 4.550% due 04/01/49 ~		$ 525,000		$ 442,640
Fortis, Inc. (Canada) 3.055% due 10/04/26		750,000		704,472
ITC Holdings Corp.
2.950% due 05/14/30 ~		360,000		317,347
4.950% due 09/22/27 ~		992,000		998,610
Jersey Central Power & Light Co. 4.300% due 01/15/26 ~		1,130,000		1,109,962
NiSource, Inc. 5.250% due 03/30/28		1,094,000		1,113,726
NRG Energy, Inc.
2.000% due 12/02/25 ~		430,000		387,632
2.450% due 12/02/27 ~		1,020,000		873,460
Pacific Gas and Electric Co.
1.700% due 11/15/23		420,000		409,831
2.950% due 03/01/26		1,490,000		1,387,553
3.450% due 07/01/25		475,000		453,127
3.750% due 08/15/42		191,000		135,921
4.300% due 03/15/45		325,000		245,085
PacifiCorp 4.150% due 02/15/50		450,000		386,196
PG&E Recovery Funding LLC 5.536% due 07/15/49		975,000		1,037,006
PG&E Wildfire Recovery Funding LLC
4.263% due 06/01/38		325,000		315,056
5.099% due 06/01/54		415,000		423,484
5.212% due 12/01/49		225,000		231,177
Public Service Co. of Oklahoma 5.250% due 01/15/33		930,000		949,712
Puget Energy, Inc. 2.379% due 06/15/28		330,000		290,963
San Diego Gas & Electric Co. 2.950% due 08/15/51		1,100,000		766,902
Southern California Edison Co.
1.200% due 02/01/26		540,000		486,419
4.125% due 03/01/48		1,290,000		1,069,848
Southern California Gas Co. 6.350% due 11/15/52		600,000		692,364
Southern Co. Gas Capital Corp. 4.400% due 06/01/43		1,000,000		845,858
Southern Power Co. 5.150% due 09/15/41		895,000		843,360
Union Electric Co. 3.900% due 04/01/52		520,000		437,634
Vistra Operations Co. LLC 4.875% due 05/13/24 ~		1,063,000		1,048,712
WEC Energy Group, Inc. 1.375% due 10/15/27		615,000		533,704
				32,992,635
Total Corporate Bonds & Notes (Cost $357,610,174)				317,917,781
MORTGAGE-BACKED SECURITIES - 32.8%
Collateralized Mortgage Obligations - Commercial - 3.6%
ACRE Commercial Mortgage Ltd.
5.591% (USD LIBOR + 0.830%) due 12/18/37 § ~		977,336		961,491
6.161% (USD LIBOR + 1.400%) due 12/18/37 § ~		1,198,000		1,163,171
BAMLL RE-Remic Trust 2.007% due 11/26/47 § ~		1,955,000		1,788,549
BPR Trust 6.192% (SOFR + 1.364%) due 02/15/29 § ~		1,790,000		1,749,599
Commercial Mortgage Trust 2.321% due 01/10/38 § ~		1,600,000		1,405,996
Fannie Mae
1.707% due 11/25/31 §		3,500,000		2,850,117
2.593% due 06/25/32 §		4,798,000		4,220,283

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

50

PACIFIC SELECT FUND

INTERMEDIATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates 3.820% due 12/25/32 §		$ 2,900,000		$ 2,811,241
Freddie Mac 6.360% (SOFR + 1.800%) due 07/25/41 § ~		3,675,891		3,354,799
Freddie Mac (IO)
1.195% due 11/25/30 §		18,945,000		1,412,338
1.211% due 10/25/30 §		15,300,000		1,151,501
1.364% due 12/25/29 §		8,830,000		560,821
Freddie Mac Multifamily Structured Pass-Through Certificates
1.981% due 12/25/31 §		3,800,000		3,170,443
2.920% due 06/25/32		2,100,000		1,894,541
FREMF Mortgage Trust
3.576% due 01/25/26 § ~		2,100,000		1,957,711
3.881% due 01/25/50 § ~		2,385,000		2,258,674
4.053% due 04/25/48 § ~		2,000,000		1,923,339
4.156% due 08/25/47 § ~		2,000,000		1,957,283
FRR RE REMIC Trust 0.422% due 10/27/46 § ~		2,400,000		2,357,676
MHC Commercial Mortgage Trust 6.785% (USD LIBOR + 2.101%) due 04/15/38 § ~		750,000		705,324
PFP Ltd. (Cayman) 6.128% (USD LIBOR + 1.400%) due 04/14/38 § ~		1,570,922		1,477,464
SLG Office Trust 2.585% due 07/15/41 ~		2,470,000		1,974,501
Wells Fargo Commercial Mortgage Trust 5.834% (USD LIBOR + 1.150%) due 02/15/40 § ~		1,099,916		1,042,372
				44,149,234
Collateralized Mortgage Obligations - Residential - 5.1%
Ajax Mortgage Loan Trust 2.239% due 06/25/66 § ~		1,314,653		1,236,486
Anchor Mortgage Trust 2.600% due 10/25/26 ~		2,156,026		2,094,825
ANTLR Mortgage Trust 2.115% due 11/25/24 § ~		1,864,000		1,833,286
CFMT LLC
0.946% due 12/26/30 § ~		689,744		672,919
1.374% due 02/25/31 § ~		3,815,000		3,609,335
Credit Suisse Mortgage Trust 3.023% due 08/25/60 § ~		1,559,741		1,516,804
CSMC Trust 1.668% due 09/27/60 § ~		2,564,762		2,456,231
Fannie Mae REMICS 3.500% due 11/25/57		4,045,883		3,876,716
Freddie Mac 2.000% due 12/25/51		2,389,216		2,103,794
Freddie Mac REMICS
1.500% due 01/25/51		2,867,723		2,340,513
3.500% due 01/15/48		4,777,666		4,275,694
Government National Mortgage Association 5.846% (USD LIBOR+1.280%) due 01/20/71 - 02/20/71 §		8,002,395		8,007,852
Government National Mortgage Association (IO) 0.777% due 03/20/71 §		40,247,143		1,296,912
LHOME Mortgage Trust 2.090% due 02/25/26 § ~		1,000,000		977,708
PRPM LLC
2.115% due 01/25/26 § ~		1,378,049		1,302,063
2.115% due 03/25/26 § ~		929,863		881,562
Seasoned Credit Risk Transfer Trust
2.000% due 05/25/60		5,383,012		4,538,383
3.000% due 05/25/60		10,739,948		9,894,102
3.250% due 11/25/61		1,674,240		1,509,016

	Principal Amount		Value
3.500% due 11/25/57		$ 2,407,763		$ 2,249,599
Towd Point Mortgage Trust
2.918% due 11/30/60 § ~		3,336,638		2,722,470
4.000% due 11/25/47 § ~		686,699		666,624
Trillion Capital III 9.120% (SOFR+1.300%) due 04/06/23 W ±		3,604,172		3,604,172
				63,667,066
Fannie Mae - 16.2%
0.970% due 07/01/27		5,640,504		4,942,096
1.090% due 04/01/28		2,889,000		2,494,439
1.275% due 04/01/30		3,628,535		3,004,235
1.370% due 03/01/30		3,598,381		3,020,150
1.410% due 12/01/30		10,170,000		8,320,730
1.440% due 01/01/31		1,400,000		1,146,111
1.460% due 12/01/30		5,000,000		4,107,404
1.560% due 01/01/31		2,700,000		2,232,051
1.754% due 03/01/32 §		3,298,754		2,714,300
1.815% due 01/01/31		1,019,811		867,900
1.870% due 05/01/31		6,400,000		5,384,079
1.960% due 09/01/33		3,750,000		3,024,843
2.010% due 01/01/32		2,200,000		1,855,788
2.140% due 12/01/33		2,550,000		2,135,760
2.160% due 12/01/33		3,100,000		2,601,180
2.290% due 01/01/37		4,025,997		3,306,335
2.320% due 02/01/35		1,912,000		1,564,570
2.500% due 01/01/52 - 03/01/62		9,762,537		8,266,483
2.510% due 10/01/30		2,730,000		2,437,510
2.550% due 10/01/30		905,000		816,330
3.000% due 05/01/47 - 06/01/62		25,595,666		23,035,783
3.040% due 07/01/32		1,742,462		1,605,412
3.080% due 05/01/32		1,875,000		1,715,567
3.140% due 07/01/32		1,710,000		1,587,270
3.190% due 07/01/33		1,031,508		954,795
3.260% due 02/01/31		800,000		748,895
3.500% due 01/01/50 - 03/01/60		7,892,584		7,427,347
3.510% due 09/01/32		5,000,000		4,727,822
3.540% due 10/01/32		2,697,172		2,572,966
3.610% due 01/01/37		2,539,884		2,443,603
3.650% due 10/01/32		4,566,000		4,366,817
3.670% due 09/01/32		546,000		519,565
3.700% due 10/01/32		3,958,878		3,803,148
3.730% due 10/01/32		4,916,406		4,733,043
3.750% due 09/01/32		2,610,000		2,519,399
3.790% due 12/01/30		2,610,000		2,540,760
3.800% due 09/01/32		2,210,061		2,140,082
3.805% due 11/01/32		1,470,000		1,423,864
3.810% due 10/01/32		3,930,000		3,808,291
3.830% due 09/01/32		2,500,000		2,426,729
3.870% due 03/01/30		4,592,000		4,510,809
3.895% due 02/01/33		3,600,000		3,512,966
3.910% due 08/01/32		1,300,000		1,266,115
4.000% due 10/01/43 - 04/01/52		4,471,914		4,319,182
4.090% due 09/01/31 - 02/01/34		4,484,000		4,385,901
4.210% due 02/01/33		3,000,000		2,992,458
4.510% due 10/01/32		4,160,000		4,239,196
4.550% due 10/01/32		1,030,000		1,054,344
4.600% due 10/01/32		4,000,000		4,108,435
4.900% due 12/01/32		3,045,000		3,204,357
5.000% due 12/01/49 - 12/01/61		14,739,180		14,902,680
5.500% due 09/01/52 - 05/01/58		7,755,235		7,979,924
6.000% due 12/01/61		2,832,704		3,004,921
				198,824,740
Freddie Mac - 0.9%
3.000% due 10/01/51 - 02/01/52		4,870,794		4,412,526
3.500% due 04/01/37		1,256,961		1,216,021
3.700% due 06/01/34		5,000,000		4,757,028
				10,385,575

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Government National Mortgage Association - 7.0%
2.500% due 10/20/45 - 10/20/50		$ 3,150,516		$ 2,760,848
2.816% due 07/20/71 §		2,551,689		2,294,129
2.930% due 10/20/70 §		1,907,132		1,716,570
3.000% due 08/20/50 - 03/20/52		5,034,942		4,574,990
3.073% due 09/20/70 §		5,716,569		5,244,342
3.093% due 12/20/71 §		2,973,584		2,705,955
3.500% due 10/20/50 - 03/20/52		18,214,497		17,087,344
4.000% due 12/20/51 - 03/20/52		4,676,727		4,533,015
4.500% due 07/20/52 - 09/20/52		10,017,938		9,939,937
5.000% due 07/20/52 - 09/15/52		14,666,622		14,881,575
5.500% due 09/20/52		2,000,567		2,025,291
6.343% (UST + 1.705%) due 03/20/72 §		2,002,138		2,084,842
6.374% (UST + 1.729%) due 02/20/72 §		1,947,547		2,027,290
6.381% (UST + 1.735%) due 10/20/71 §		2,518,835		2,618,179
6.449% (UST + 1.830%) due 07/20/72 §		3,550,041		3,733,321
6.471% (UST + 1.836%) due 08/20/71 §		2,345,134		2,448,868
6.565% (UST + 1.922%) due 08/20/72 §		4,475,388		4,703,331
				85,379,827
Total Mortgage-Backed Securities (Cost $433,222,251)				402,406,442
ASSET-BACKED SECURITIES - 13.3%
American Credit Acceptance Receivables Trust 5.830% due 10/13/28 ~		1,617,000		1,580,069
American Homes 4 Rent Trust 5.885% due 04/17/52 ~		2,135,000		2,104,301
AmeriCredit Automobile Receivables Trust 1.210% due 12/18/26		3,060,000		2,787,436
AMSR Trust
2.006% due 11/17/37 ~		2,120,000		1,922,424
2.327% due 10/17/38 ~		1,342,000		1,162,740
2.751% due 06/17/38 § ~		3,650,000		3,052,548
4.000% due 10/17/39 ~		3,000,000		2,568,809
Aqua Finance Trust 3.970% due 07/17/46 ~		1,225,000		1,048,932
Business Jet Securities LLC
2.918% due 04/15/36 ~		4,224,570		3,892,779
2.981% due 11/15/35 ~		1,063,267		1,008,788
Cars Net Lease Mortgage Notes 3.100% due 12/15/50 ~		425,163		378,466
Carvana Auto Receivables Trust 3.430% due 01/15/26 ~		2,366,300		2,334,944
Cascade MH Asset Trust
2.708% due 02/25/46 ~		1,420,000		1,095,788
4.250% due 08/25/54§ ~		3,396,565		3,023,371
CFIN Issuer LLC 3.250% due 02/16/26 ~		2,000,000		1,894,100
Consumer Receivables Asset Investment Trust 8.783% (SOFR + 3.750%) due 12/15/24 § ~		567,381		570,277
Continental Finance Credit Card ABS Master Trust
2.240% due 12/15/28 ~		2,170,000		2,070,471
6.190% due 10/15/30 ~		2,870,000		2,795,307
Credit Acceptance Auto Loan Trust
1.640% due 06/17/30 ~		3,815,000		3,520,493
2.730% due 11/15/29 ~		2,500,000		2,437,263

	Principal Amount		Value
Credito Real USA Auto Receivables Trust 1.350% due 02/16/27 ~		$ 251,048		$ 246,696
Crossroads Asset Trust 1.120% due 06/20/25 ~		679,000		670,976
DataBank Issuer 2.060% due 02/27/51 ~		1,300,000		1,155,423
Diversified Abs Phase VI LLC 7.500% due 11/28/39 W ±		1,910,684		1,862,917
Drive Auto Receivables Trust 3.180% due 10/15/26		2,304,836		2,290,012
DT Auto Owner Trust
1.100% due 02/16/27 ~		1,155,000		1,108,701
2.960% due 04/15/25 ~		1,483,996		1,469,901
Exeter Automobile Receivables Trust 5.980% due 12/15/28		3,400,000		3,366,641
FHF Trust 1.270% due 03/15/27 ~		166,065		159,540
FirstKey Homes Trust
2.389% due 08/17/38 ~		5,500,000		4,691,610
5.197% due 05/17/39 ~		915,000		867,265
Flagship Credit Auto Trust
2.180% due 02/16/27 ~		1,762,000		1,649,794
6.000% due 07/17/28 ~		3,148,000		3,107,830
FMC GMSR Issuer Trust
3.620% due 07/25/26 § ~		4,600,000		3,956,376
3.690% due 02/25/24		3,630,000		3,487,163
3.850% due 10/25/26 § ~		2,100,000		1,805,681
4.450% due 01/25/26 § ~		2,700,000		2,482,452
6.190% due 04/25/27 ~		3,000,000		2,805,839
7.900% due 07/25/27 ~		3,000,000		3,001,875
GLS Auto Receivables Issuer Trust
1.140% due 11/17/25 ~		536,606		529,271
1.640% due 10/15/26 ~		425,000		407,062
5.340% due 06/15/28 ~		1,889,000		1,865,994
6.420% due 06/15/28 ~		2,000,000		2,002,605
Hilton Grand Vacations Trust 4.300% due 01/25/37 ~		1,987,767		1,930,082
Jonah Energy Abs I LLC 7.200% due 12/10/37 ~		1,488,958		1,473,987
Jonah Energy LLC 7.800% due 11/10/37		1,845,380		1,809,210
LendingPoint Asset Securitization Trust 2.731% due 10/15/28 ~		475,382		470,486
LFT CRE Ltd. 6.634% (USD LIBOR + 1.950%) due 06/15/39 § ~		2,590,000		2,483,870
LP LMS Asset Securitization Trust
1.750% due 01/15/29 ~		963,443		940,982
3.228% due 10/15/28		317,474		317,244
Mariner Finance Issuance Trust 2.960% due 07/20/32 ~		849,730		840,355
MVW LLC 1.140% due 01/22/41 ~		738,928		673,422
New Residential Mortgage Loan Trust 4.000% due 09/04/39 ~		2,537,000		2,164,701
NRZ Excess Spread-Collateralized Notes
2.981% due 03/25/26 ~		1,274,253		1,157,456
3.104% due 07/25/26 ~		3,071,529		2,767,393
3.228% due 05/25/26 ~		1,491,087		1,351,858
3.844% due 12/25/25 ~		1,027,327		960,061
Octane Receivables Trust
2.890% due 03/20/26 ~		2,600,000		2,500,196
6.290% due 07/20/28 ~		2,613,000		2,617,356
OneMain Financial Issuance Trust 3.450% due 09/14/35 ~		675,000		579,018
Pagaya AI Debt Selection Trust 1.180% due 11/15/27 ~		430,993		427,510
Pagaya AI Technology in Housing Trust 4.250% due 08/25/25 ~		3,000,000		2,881,424
PNMAC GMSR Issuer Trust 8.810% (SOFR + 4.250%) due 05/25/27 § ~		1,730,000		1,731,895

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

52

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
PRET LLC 2.487% due 10/25/51 § ~		$ 3,368,955		$ 3,178,307
Pretium Mortgage Credit Partners I LLC 2.240% due 09/27/60 § ~		1,834,548		1,749,095
Progress Residential Trust
2.106% due 04/17/38 ~		3,250,000		2,790,811
2.409% due 05/17/38 ~		1,570,000		1,370,673
2.425% due 07/17/38 ~		2,530,000		2,178,599
2.538% due 05/17/26 ~		1,650,000		1,439,553
2.547% due 04/19/38 ~		2,550,000		2,223,293
2.811% due 11/17/40 ~		1,000,000		826,654
5.200% due 04/17/39 ~		1,685,000		1,550,012
Regional Management Issuance Trust
1.680% due 03/17/31 ~		1,217,000		1,136,608
2.420% due 03/17/31 ~		895,000		798,252
3.800% due 10/15/30 ~		2,000,000		1,814,459
Santander Consumer Auto Receivables Trust 1.570% due 01/15/27 ~		1,400,000		1,288,130
Santander Drive Auto Receivables Trust 4.430% due 03/15/27		1,539,000		1,516,282
SCF Equipment Leasing LLC 1.540% due 10/21/30 ~		2,055,000		1,847,346
Sierra Timeshare Receivables Funding LLC 1.340% due 11/20/37 ~		563,047		520,912
Tricolor Auto Securitization Trust 1.920% due 05/15/26 ~		815,000		796,314
United Auto Credit Securitization Trust 1.140% due 06/10/26 ~		850,000		831,872
Upstart Securitization Trust 5.980% due 08/20/32 ~		3,133,347		3,076,880
VCAT LLC 2.289% due 12/26/50 § ~		1,418,177		1,359,030
VOLT XCII LLC 1.893% due 02/27/51 § ~		660,189		606,834
VOLT XCIII LLC 1.893% due 02/27/51 § ~		2,311,503		2,135,346
VOLT XCIV LLC 2.240% due 02/27/51 § ~		1,617,138		1,520,806
VOLT XCIX LLC 2.116% due 04/25/51 § ~		1,102,349		1,009,624
VOLT XCVI LLC 2.116% due 03/27/51 § ~		1,288,908		1,216,458
VOLT XCVII LLC 2.240% due 04/25/51 § ~		1,316,073		1,215,519
Westlake Automobile Receivables Trust
5.480% due 09/15/27 ~		3,300,000		3,231,140
6.680% due 04/17/28 ~		2,900,000		2,922,726
Total Asset-Backed Securities (Cost $172,163,470)				162,470,971
U.S. TREASURY OBLIGATIONS - 26.7%
U.S. Treasury Bonds - 11.1%
1.125% due 08/15/40		6,945,000		4,596,451
1.250% due 05/15/50		127,000		73,908
1.375% due 08/15/50		11,770,000		7,075,333
1.625% due 11/15/50		6,885,000		4,419,309
1.875% due 02/15/41		3,025,000		2,265,028
1.875% due 02/15/51		7,498,800		5,126,133
1.875% due 11/15/51		8,070,000		5,498,791
2.000% due 11/15/41		5,200,000		3,928,742
2.000% due 08/15/51		6,815,000		4,796,722
2.250% due 05/15/41		13,162,000		10,464,047
2.250% due 08/15/46		950,000		717,695
2.375% due 02/15/42		4,790,000		3,854,547
2.375% due 05/15/51		260,000		199,758
2.750% due 08/15/42		5,700,000		4,854,574
2.875% due 08/15/45		4,210,000		3,590,916
2.875% due 05/15/52		21,300,000		18,230,221

	Principal Amount		Value
3.125% due 02/15/43		$ 368,000		$ 331,193
3.250% due 05/15/42		43,715,000		40,357,824
3.625% due 02/15/53		11,500,000		11,420,039
3.875% due 08/15/40		2,000,000		2,052,813
4.250% due 05/15/39		2,000,000		2,159,453
				136,013,497
U.S. Treasury Notes - 15.6%
0.250% due 09/30/25		18,990,000		17,383,268
0.375% due 01/31/26		115,000		104,425
0.875% due 06/30/26		600,000		547,277
1.250% due 03/31/28		5,485,000		4,893,970
1.500% due 02/15/30		1,075,000		942,725
1.625% due 05/15/31		565,000		491,219
1.875% due 02/28/27		20,000,000		18,666,797
1.875% due 02/28/29		7,300,000		6,634,018
1.875% due 02/15/32		6,000,000		5,267,578
2.500% due 02/28/26		270,000		260,197
2.625% due 07/31/29		28,130,000		26,612,518
2.750% due 07/31/27		71,080,000		68,470,031
2.875% due 04/30/29		15,475,000		14,861,743
2.875% due 05/15/32		6,175,000		5,877,828
3.000% due 07/15/25		9,475,000		9,274,767
3.125% due 08/31/27		1,925,000		1,883,342
3.125% due 08/31/29		1,900,000		1,849,902
3.250% due 06/30/29		7,400,000		7,256,914
				191,278,519
Total U.S. Treasury Obligations (Cost $364,525,257)				327,292,016
FOREIGN GOVERNMENT BONDS & NOTES - 0.4%
Chile Government (Chile) 2.550% due 01/27/32		272,000		232,871
Mexico Government (Mexico)
2.659% due 05/24/31		596,000		498,882
3.500% due 02/12/34		868,000		738,069
3.750% due 01/11/28		730,000		701,104
4.400% due 02/12/52		475,000		372,328
4.600% due 01/23/46		480,000		396,039
4.875% due 05/19/33		1,000,000		958,634
Panama Government (Panama)
3.160% due 01/23/30		480,000		422,494
4.500% due 04/16/50		415,000		317,118
Saudi Government (Saudi Arabia) 2.250% due 02/02/33 ~		338,000		278,152
Total Foreign Government Bonds & Notes (Cost $5,848,840)				4,915,691
MUNICIPAL BONDS - 0.3%
California State Build America Bonds 7.350% due 11/01/39		1,000,000		1,249,295
Oklahoma Development Finance Authority 4.714% due 05/01/52		445,000		431,867
Texas Natural Gas Securitization Finance Corp.
5.102% due 04/01/35		445,000		457,593
5.169% due 04/01/41		745,000		789,658
University of California 3.706% due 05/15/20		675,000		459,201
Total Municipal Bonds (Cost $3,888,105)				3,387,614

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

53

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 0.3%
Repurchase Agreement - 0.3%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $4,271,252; collateralized by U.S. Treasury Notes: 2.875% due 06/15/2025 and value $4,355,095)		$ 4,269,668		$ 4,269,668
Total Short-Term Investment (Cost $4,269,668)				4,269,668
TOTAL INVESTMENTS - 99.7% (Cost $1,341,527,765)				1,222,660,183
OTHER ASSETS & LIABILITIES, NET - 0.3%				3,432,700
NET ASSETS - 100.0%				$1,226,092,883

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $5,467,089 or less than 0.1% of the Fund’s net assets were valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or the Board of Trustees.

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Corporate Bonds & Notes		$317,917,781		$-		$317,917,781		$-
	Mortgage-Backed Securities		402,406,442		-		398,802,270		3,604,172
	Asset-Backed Securities		162,470,971		-		160,608,054		1,862,917
	U.S. Treasury Obligations		327,292,016		-		327,292,016		-
	Foreign Government Bonds & Notes		4,915,691		-		4,915,691		-
	Municipal Bonds		3,387,614		-		3,387,614		-
	Short-Term Investment		4,269,668		-		4,269,668		-
	Total		$1,222,660,183		$-		$1,217,193,094		$5,467,089

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

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Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 0.0%
Financial - 0.0%
CBL & Associates Properties, Inc. REIT		9,021		$231,298
Total Common Stocks (Cost $125,422)				231,298
	Principal Amount
CORPORATE BONDS & NOTES - 34.2%
Basic Materials - 0.2%
Syngenta Finance NV (Switzerland) 4.441% due 04/24/23 ~		$4,400,000		4,394,820
Communications - 1.0%
AT&T, Inc. 1.700% due 03/25/26		3,700,000		3,405,743
Charter Communications Operating LLC/Charter Communications Operating Capital 3.850% due 04/01/61		7,500,000		4,685,685
Level 3 Financing, Inc. 3.400% due 03/01/27 ~		2,000,000		1,583,686
Lumen Technologies, Inc. 4.000% due 02/15/27 ~		2,600,000		1,718,379
SES SA (Luxembourg) 3.600% due 04/04/23 ~		800,000		800,000
Sprint LLC 7.875% due 09/15/23		1,200,000		1,209,953
T-Mobile USA, Inc.
2.550% due 02/15/31		3,800,000		3,222,465
3.375% due 04/15/29		7,200,000		6,570,629
				23,196,540
Consumer, Cyclical - 3.2%
Air Canada Pass-Through Trust (Canada) 3.750% due 06/15/29 ~		1,510,435		1,406,023
Alaska Airlines Pass-Through Trust 4.800% due 02/15/29 ~		5,226,191		5,080,988
American Airlines Pass-Through Trust 2.875% due 01/11/36		4,627,511		3,821,042
American Airlines Pass-Through Trust A
3.250% due 04/15/30		2,164,225		1,876,791
4.000% due 01/15/27		2,020,557		1,831,492
American Airlines Pass-Through Trust AA 3.000% due 04/15/30		3,321,899		2,944,177
Daimler Truck Finance North America LLC (Germany) 5.569% (SOFR + 0.750%) due 12/13/24 § ~		6,650,000		6,562,858
Ford Motor Credit Co. LLC
2.748% due 06/14/24		GBP 300,000		352,686
3.021% due 03/06/24		EUR 1,900,000		2,027,521
3.375% due 11/13/25		$2,300,000		2,158,814
Hyatt Hotels Corp. 1.800% due 10/01/24		7,200,000		6,820,712
Hyundai Capital America 1.650% due 09/17/26 ~		7,200,000		6,377,558
JetBlue Pass-Through Trust Class A 4.000% due 05/15/34		7,648,309		7,030,541
Nissan Motor Acceptance Co. LLC
2.750% due 03/09/28 ~		5,900,000		4,994,135
3.875% due 09/21/23 ~		3,400,000		3,362,463

	Principal Amount		Value
Starbucks Corp. 2.550% due 11/15/30		$9,700,000		$8,446,871
Toyota Motor Credit Corp. 5.570% (SOFR + 0.750%) due 12/11/23 §		3,300,000		3,300,604
United Airlines Pass-Through Trust 2.700% due 11/01/33		4,317,364		3,648,060
Volkswagen Group of America Finance LLC (Germany) 4.625% due 11/13/25 ~		1,000,000		992,332
				73,035,668
Consumer, Non-Cyclical - 3.4%
Amgen, Inc. 5.250% due 03/02/33		3,700,000		3,803,400
Bacardi Ltd. (Bermuda) 4.450% due 05/15/25 ~		6,700,000		6,601,164
Bayer US Finance II LLC (Germany) 4.375% due 12/15/28 ~		7,400,000		7,158,150
Becton Dickinson & Co. 1.957% due 02/11/31		7,900,000		6,505,348
Block Financial LLC 3.875% due 08/15/30		6,600,000		5,680,491
CommonSpirit Health 6.073% due 11/01/27		4,200,000		4,314,834
Constellation Brands, Inc. 3.700% due 12/06/26		4,400,000		4,256,971
CVS Health Corp. 2.125% due 09/15/31		3,500,000		2,863,353
CVS Pass-Through Trust 6.943% due 01/10/30		144,513		149,043
Duke University 2.682% due 10/01/44		9,600,000		7,277,733
Elevance Health, Inc. 2.375% due 01/15/25		3,400,000		3,256,404
General Mills, Inc. 5.840% (USD LIBOR + 1.010%) due 10/17/23 §		1,000,000		1,003,884
HCA, Inc. 3.375% due 03/15/29 ~		7,300,000		6,598,400
Imperial Brands Finance PLC (United Kingdom)
3.125% due 07/26/24 ~		6,200,000		6,008,619
3.875% due 07/26/29 ~		3,300,000		2,971,089
Kenvue, Inc. 5.050% due 03/22/28 ~		2,400,000		2,481,675
Mylan, Inc. 4.200% due 11/29/23		1,500,000		1,484,167
Zoetis, Inc. 2.000% due 05/15/30		7,000,000		5,895,894
				78,310,619
Energy - 1.2%
Midwest Connector Capital Co. LLC 3.900% due 04/01/24 ~		4,100,000		4,029,374
Odebrecht Drilling Norbe VIII/IX Ltd. (Brazil) 7.350% PIK due 12/01/26 ~		2,273,594		1,264,118
Odebrecht Oil & Gas Finance Ltd. (Brazil) 0.000% due 05/01/23 ~		1,012,000		1,012
Petroleos Mexicanos (Mexico) 10.000% due 02/07/33 ~		1,900,000		1,822,659
Pioneer Natural Resources Co. 5.100% due 03/29/26		2,300,000		2,310,762
Rio Oil Finance Trust (Brazil)
9.250% due 07/06/24 ~		561,310		568,256
9.750% due 01/06/27 ~		3,082,382		3,194,935
Sabine Pass Liquefaction LLC 4.500% due 05/15/30		6,800,000		6,562,566
Targa Resources Corp. 5.200% due 07/01/27		6,600,000		6,549,465
				26,303,147

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Financial - 17.4%
AIB Group PLC (Ireland) 7.583% due 10/14/26 ~		$7,500,000		$7,699,762
American Tower Corp. REIT
2.100% due 06/15/30		8,000,000		6,541,260
3.000% due 06/15/23		900,000		895,057
Aviation Capital Group LLC 4.125% due 08/01/25 ~		6,620,000		6,306,140
Banco Bilbao Vizcaya Argentaria SA (Spain)
0.875% due 09/18/23		2,100,000		2,052,712
1.125% due 09/18/25		3,400,000		3,065,027
Banco Espirito Santo SA (Portugal)
2.625% * Y ~		EUR 1,000,000		135,563
4.750% * Y ~		5,600,000		759,150
Bank of America Corp. 5.015% due 07/22/33		$6,500,000		6,433,485
Bank of Ireland Group PLC (Ireland) 6.253% due 09/16/26 ~		6,400,000		6,368,105
Barclays PLC (United Kingdom)
3.375% due 04/02/25 ~		EUR 900,000		968,012
7.325% due 11/02/26		$4,100,000		4,202,651
7.385% due 11/02/28		4,000,000		4,243,373
BNP Paribas SA (France)
1.904% due 09/30/28 ~		3,600,000		3,064,439
3.132% due 01/20/33 ~		7,800,000		6,524,829
Citigroup, Inc.
2.572% due 06/03/31		8,100,000		6,838,763
3.070% due 02/24/28		4,200,000		3,908,941
Commonwealth Bank of Australia (Australia) 2.552% due 03/14/27 ~		2,900,000		2,690,270
Cooperatieve Rabobank UA (Netherlands) 4.655% due 08/22/28 ~		6,700,000		6,516,255
Credit Suisse AG (Switzerland)
6.500% due 08/08/23 ~		3,200,000		3,076,000
7.500% due 02/15/28		2,000,000		2,125,000
7.950% due 01/09/25		2,000,000		2,035,520
Credit Suisse Group AG (Switzerland)
3.869% due 01/12/29 ~		9,100,000		8,124,503
6.394% (USD LIBOR + 1.240%) due 06/12/24 § ~		6,200,000		6,046,389
6.537% due 08/12/33 ~		8,500,000		8,755,000
Crown Castle, Inc. REIT
2.250% due 01/15/31		7,900,000		6,551,421
3.700% due 06/15/26		2,277,000		2,196,523
CTP NV (Netherlands) 0.875% due 01/20/26 ~		EUR 2,100,000		1,905,513
CubeSmart LP REIT 2.500% due 02/15/32		$3,200,000		2,572,096
Deutsche Bank AG (Germany) 3.961% due 11/26/25		13,500,000		12,781,489
Digital Realty Trust LP REIT 3.600% due 07/01/29		4,500,000		4,046,488
EPR Properties REIT 4.500% due 04/01/25		2,200,000		2,125,799
Essex Portfolio LP REIT 3.375% due 04/15/26		3,500,000		3,343,783
Federation des Caisses Desjardins du Quebec (Canada) 4.400% due 08/23/25 ~		7,000,000		6,832,562
GA Global Funding Trust 1.250% due 12/08/23 ~		7,000,000		6,790,029
GLP Capital LP/GLP Financing II, Inc. REIT 4.000% due 01/15/30		1,800,000		1,598,364
Host Hotels & Resorts LP REIT
3.875% due 04/01/24		700,000		683,884
4.000% due 06/15/25		1,350,000		1,295,955
HSBC Holdings PLC (United Kingdom) 7.390% due 11/03/28		8,500,000		9,054,121
HSBC USA, Inc. 5.625% due 03/17/25		4,600,000		4,612,685

	Principal Amount		Value
Intercontinental Exchange, Inc. 2.100% due 06/15/30		$4,400,000		$3,708,813
Intesa Sanpaolo SpA (Italy) 3.250% due 09/23/24 ~		7,300,000		7,015,949
JPMorgan Chase & Co.
1.578% due 04/22/27		7,000,000		6,294,604
4.851% due 07/25/28		4,800,000		4,795,426
4.912% due 07/25/33		6,400,000		6,366,916
5.546% due 12/15/25		5,100,000		5,137,689
KBC Group NV (Belgium) 5.796% due 01/19/29 ~		2,600,000		2,618,369
Kilroy Realty LP REIT 4.375% due 10/01/25		2,600,000		2,358,950
Life Storage LP REIT
2.400% due 10/15/31		7,000,000		5,650,541
3.875% due 12/15/27		2,600,000		2,462,277
Lloyds Banking Group PLC (United Kingdom)
4.450% due 05/08/25		4,500,000		4,380,407
4.947% due 06/27/25 ~		EUR 300,000		294,706
Logicor Financing SARL (Luxembourg) 1.625% due 01/17/30 ~		2,300,000		1,747,459
Manulife Financial Corp. (Canada) 4.150% due 03/04/26		$500,000		492,545
MassMutual Global Funding II 5.050% due 12/07/27 ~		4,000,000		4,052,449
Mid-America Apartments LP REIT 4.200% due 06/15/28		3,000,000		2,920,233
Mitsubishi UFJ Financial Group, Inc. (Japan)
1.412% due 07/17/25		6,900,000		6,331,621
5.133% due 07/20/33		6,500,000		6,441,300
5.681% (SOFR + 0.940%) due 02/20/26 §		500,000		492,492
Mizuho Financial Group, Inc. (Japan)
2.201% due 07/10/31		8,700,000		7,046,628
5.414% due 09/13/28		3,800,000		3,819,247
Morgan Stanley
4.889% due 07/20/33		6,500,000		6,392,718
5.123% due 02/01/29		2,500,000		2,521,809
National Retail Properties, Inc. REIT 3.500% due 10/15/27		5,600,000		5,276,320
Natwest Group PLC (United Kingdom) 2.000% due 03/04/25 ~		EUR 4,600,000		4,879,806
Nomura Holdings, Inc. (Japan)
2.172% due 07/14/28		$500,000		417,706
2.679% due 07/16/30		6,700,000		5,421,904
5.842% due 01/18/28		1,700,000		1,715,365
6.181% due 01/18/33		2,500,000		2,546,921
Omega Healthcare Investors, Inc. REIT
4.375% due 08/01/23		453,000		450,159
4.750% due 01/15/28		590,000		547,384
Pricoa Global Funding I 4.200% due 08/28/25 ~		4,500,000		4,419,914
Public Storage REIT 3.094% due 09/15/27		1,100,000		1,035,563
Regency Centers LP REIT 4.125% due 03/15/28		3,500,000		3,324,034
Santander Holdings USA, Inc. 2.490% due 01/06/28		6,500,000		5,627,376
Scentre Group Trust 1/Scentre Group Trust 2 REIT (Australia) 3.625% due 01/28/26 ~		7,300,000		6,995,962
Societe Generale SA (France)
3.337% due 01/21/33 ~		8,000,000		6,443,887
4.250% due 09/14/23 ~		7,700,000		7,599,191
Spirit Realty LP REIT 3.200% due 01/15/27		8,100,000		7,394,179
Standard Chartered PLC (United Kingdom)
1.456% due 01/14/27 ~		4,000,000		3,517,380
5.683% (SOFR + 0.930%) due 11/23/25 § ~		5,400,000		5,300,336
STORE Capital Corp. REIT 4.500% due 03/15/28		7,600,000		6,814,558

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

56

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Sumitomo Mitsui Financial Group, Inc. (Japan)
1.902% due 09/17/28		$6,000,000		$5,085,993
5.464% due 01/13/26		2,900,000		2,929,606
5.520% due 01/13/28		3,100,000		3,154,062
Synchrony Bank 5.625% due 08/23/27		5,600,000		5,146,761
Synchrony Financial 5.150% due 03/19/29		4,700,000		4,137,063
Tesco Property Finance 4 PLC (United Kingdom) 5.801% due 10/13/40 ~		GBP 185,911		228,213
Tesco Property Finance 5 PLC (United Kingdom) 5.661% due 10/13/41 ~		95,382		115,274
Truist Financial Corp. 5.900% due 10/28/26		$6,000,000		5,987,543
UBS Group AG (Switzerland) 5.711% due 01/12/27 ~		2,800,000		2,777,254
UniCredit SpA (Italy) 7.830% due 12/04/23 ~		8,700,000		8,780,715
Virgin Money UK PLC (United Kingdom) 4.000% due 09/03/27 ~		GBP 500,000		566,350
Wells Fargo & Co.
2.393% due 06/02/28		$2,200,000		1,982,481
4.540% due 08/15/26		6,600,000		6,484,462
				396,213,788
Industrial - 2.0%
AP Moller - Maersk AS (Denmark) 4.500% due 06/20/29 ~		8,600,000		8,543,619
Boeing Co. 1.433% due 02/04/24		3,500,000		3,382,547
Flex Ltd. 4.875% due 05/12/30		7,900,000		7,692,177
Fortune Brands Innovations, Inc. 3.250% due 09/15/29		8,200,000		7,306,947
GATX Corp. 4.000% due 06/30/30		7,400,000		6,817,504
Kansas City Southern 3.125% due 06/01/26		9,800,000		9,357,697
SMBC Aviation Capital Finance DAC (Ireland) 4.125% due 07/15/23 ~		1,800,000		1,788,267
				44,888,758
Technology - 2.0%
Amdocs Ltd. 2.538% due 06/15/30		4,700,000		3,965,076
Broadcom, Inc.
2.600% due 02/15/33 ~		1,800,000		1,412,704
3.137% due 11/15/35 ~		7,388,000		5,687,560
3.187% due 11/15/36 ~		2,900,000		2,200,129
3.469% due 04/15/34 ~		3,639,000		2,991,456
Dell International LLC/EMC Corp. 5.850% due 07/15/25		9,200,000		9,355,054
NXP BV/NXP Funding LLC/NXP USA, Inc. (China)
3.875% due 06/18/26		4,000,000		3,865,186
4.875% due 03/01/24		5,900,000		5,857,673
Open Text Corp. (Canada) 6.900% due 12/01/27 ~		8,100,000		8,363,250
Oracle Corp. 6.150% due 11/09/29		2,700,000		2,877,122
				46,575,210
Utilities - 3.8%
DTE Electric Co. 4.050% due 05/15/48		100,000		85,698
Enel Finance America LLC (Italy) 7.100% due 10/14/27 ~		2,900,000		3,119,142

	Principal Amount		Value
Enel Finance International NV (Italy) 2.250% due 07/12/31 ~	$	7,500,000		$5,878,208
Entergy Louisiana LLC 2.350% due 06/15/32		7,700,000		6,330,757
Evergy, Inc. 2.450% due 09/15/24		8,800,000		8,434,888
National Rural Utilities Cooperative Finance Corp. 4.800% due 03/15/28		2,600,000		2,627,165
New York State Electric & Gas Corp. 2.150% due 10/01/31 ~		7,200,000		5,781,736
NextEra Energy Capital Holdings, Inc. 2.250% due 06/01/30		9,600,000		8,121,357
Pacific Gas & Electric Co.
1.700% due 11/15/23		3,300,000		3,220,100
3.500% due 06/15/25		2,400,000		2,290,037
5.450% due 06/15/27		6,800,000		6,738,894
Pennsylvania Electric Co. 3.600% due 06/01/29 ~		4,300,000		4,018,162
Public Service Co. of Colorado 1.900% due 01/15/31		6,300,000		5,212,053
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries (India) 4.500% due 07/14/28 ~		5,900,000		4,960,588
SGSP Australia Assets Pty Ltd. (Australia) 3.300% due 04/09/23 ~		1,200,000		1,199,685
Southern California Edison Co. 2.500% due 06/01/31		7,000,000		5,944,042
Southern Co. 3.250% due 07/01/26		5,700,000		5,439,538
WEC Energy Group, Inc. 1.800% due 10/15/30		8,400,000		6,808,454
				86,210,504
Total Corporate Bonds & Notes (Cost $844,452,915)				779,129,054
MORTGAGE-BACKED SECURITIES - 55.8%
Collateralized Mortgage Obligations - Commercial - 8.3%
1211 Avenue of the Americas Trust 3.901% due 08/10/35 ~		9,600,000		8,987,962
Arbor Multifamily Mortgage Securities Trust 2.756% due 05/15/53 ~		4,900,000		4,200,156
AREIT LLC 6.985% (SOFR + 2.242%) due 06/17/39 § ~		5,600,000		5,559,977
Ashford Hospitality Trust 5.685% (USD LIBOR + 1.000%) due 06/15/35 § ~		7,400,000		7,168,677
Atrium Hotel Portfolio Trust 5.634% (USD LIBOR + 0.950%) due 06/15/35 § ~		6,500,000		6,264,104
Austin Fairmont Hotel Trust 5.734% (USD LIBOR + 1.050%) due 09/15/32 § ~		4,500,000		4,407,387
BAMLL Commercial Mortgage Securities Trust 5.734% (USD LIBOR + 1.050%) due 09/15/38 § ~		7,000,000		6,541,544
BDS LLC 6.828% (SOFR + 2.137%) due 08/19/38 § ~		6,500,000		6,506,975
Benchmark Mortgage Trust 3.458% due 03/15/55		6,500,000		5,735,931
BX Commercial Mortgage Trust 5.373% (USD LIBOR + 0.689%) due 10/15/38 § ~		5,430,550		5,210,778
Cantor Commercial Real Estate Lending 2.874% due 11/15/52		6,200,000		5,276,727

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

57

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
CFCRE Commercial Mortgage Trust 3.060% due 11/10/49		$3,928,272		$3,773,152
Citigroup Commercial Mortgage Trust
2.984% due 11/15/49		5,376,416		5,165,975
3.778% due 09/10/58		5,900,000		5,662,084
CLNC Ltd. (Cayman) 6.056% (SOFR + 1.364%) due 08/20/35 § ~		2,485,800		2,457,081
DBGS Mortgage Trust 3.843% due 04/10/37 ~		8,700,000		7,407,241
DBWF Mortgage Trust 5.891% (USD LIBOR + 1.130%) due 12/19/30 § ~		6,600,000		6,483,012
DOLP Trust 2.956% due 05/10/41 ~		7,000,000		5,596,970
Extended Stay America Trust 5.765% (USD LIBOR + 1.080%) due 07/15/38 § ~		6,833,346		6,633,715
GS Mortgage Securities Corp. II 8.228% (SOFR + 3.400%) due 08/15/39 § ~		6,700,000		6,671,320
GS Mortgage Securities Trust 3.602% due 10/10/49 § ~		7,000,000		5,659,419
JP Morgan Chase Commercial Mortgage Securities Trust
5.934% (USD LIBOR + 1.250%) due 09/15/29 § ~		2,409,756		2,232,396
6.134% (USD LIBOR + 1.450%) due 12/15/31 § ~		5,461,346		5,212,298
Manhattan West 2020-1MW Mortgage Trust 2.130% due 09/10/39 ~		8,600,000		7,414,310
MF1 Multifamily Housing Mortgage Loan Trust 5.624% (SOFR + 0.964%) due 07/15/36 § ~		3,435,709		3,375,470
Morgan Stanley Bank of America Merrill Lynch Trust 3.150% due 03/15/48		2,284,358		2,221,170
Morgan Stanley Capital I Trust 2.428% due 04/05/42 § ~		4,900,000		3,843,105
NYO Commercial Mortgage Trust 5.780% (USD LIBOR + 1.095%) due 11/15/38 § ~		11,200,000		10,293,182
One New York Plaza Trust 5.634% (USD LIBOR + 0.950%) due 01/15/36 § ~		3,780,000		3,627,664
PFP Ltd. (Bermuda) 6.934% (SOFR + 2.274%) due 08/19/35 § ~		6,400,000		6,362,688
Ready Capital Mortgage Financing LLC 7.358% (SOFR + 2.552%) due 10/25/39 § ~		6,091,339		6,058,160
STWD Ltd. (Cayman) 5.854% (SOFR + 1.194%) due 07/15/38 § ~		5,654,182		5,630,130
STWD Mortgage Trust (Cayman) 5.542% (USD LIBOR + 0.858%) due 11/15/36 § ~		7,100,000		6,831,822
Wells Fargo Commercial Mortgage Trust 3.809% due 12/15/48		4,837,000		4,635,602
				189,108,184
Collateralized Mortgage Obligations - Residential - 8.5%
Alternative Loan Trust (IO)
0.155% (5.000% - USD LIBOR) due 05/25/35 §		645,534		31,909
Alternative Loan Trust
5.465% (USD LIBOR + 0.620%) due 10/25/35 §		5,456		5,343
Banc of America Funding Trust
3.011% due 08/25/47 § ~		3,395,971		2,362,921
4.160% due 02/20/36 §		237,362		216,393

	Principal Amount		Value
Banc of America Mortgage Trust 6.000% due 05/25/37		$1,833,628		$1,439,710
BCAP LLC Trust
4.604% due 03/26/37 § ~		136,723		133,229
5.250% due 02/26/36 § ~		959,489		433,969
Bear Stearns Adjustable Rate Mortgage Trust 3.539% due 08/25/33 §		456,972		416,963
Bear Stearns ALT-A Trust 4.601% due 01/25/36 §		1,033,032		957,288
Bear Stearns Structured Products, Inc. Trust
3.649% due 12/26/46 §		401,151		270,694
3.947% due 01/26/36 §		460,720		338,096
CHL Mortgage Pass-Through Trust
4.221% due 05/20/34 §		336,589		302,120
5.485% (USD LIBOR + 0.640%) due 03/25/35 §		386,361		340,797
6.500% due 10/25/37		744,447		364,923
Citigroup Mortgage Loan Trust 3.799% due 08/25/36 §		398,353		343,988
Citigroup Mortgage Loan Trust, Inc. 3.906% due 08/25/35 §		68,214		55,262
Credit Suisse First Boston Mortgage Securities Corp. (Switzerland) 5.044% due 03/25/32 § ~		79,915		72,475
DSLA Mortgage Loan Trust 4.540% due 07/19/44 §		277,445		245,805
Fannie Mae REMICS
4.677% (USD LIBOR + 0.060%) due 07/25/37 §		50,512		49,501
5.159% due 10/25/42 §		333,017		338,264
5.161% (USD LIBOR + 0.400%) due 04/18/28 §		11,804		11,786
5.211% (USD LIBOR + 0.450%) due 10/18/30 §		163		163
5.225% (USD LIBOR + 0.380%) due 11/25/42 §		1,168,689		1,150,888
Fannie Mae REMICS (IO) 1.855% (6.700% - USD LIBOR) due 10/25/35 §		1,497		150
Finsbury Square PLC (United Kingdom) 5.460% (SONIA + 1.300%) due 06/16/70 § ~		GBP 2,120,485		2,619,731
First Horizon Alternative Mortgage Securities Trust
4.432% due 03/25/35 §		$369,981		226,159
4.863% due 06/25/34 §		1,240,017		1,138,550
Freddie Mac 7.500% due 09/20/26		20,526		20,939
Freddie Mac REMICS
3.655% (USD LIBOR + 0.350%) due 08/15/40 §		2,379,354		2,323,754
3.666% (USD LIBOR + 0.350%) due 10/15/40 §		2,334,825		2,283,131
4.874% (USD LIBOR + 0.190%) due 10/15/43 §		2,643,642		2,571,764
5.034% (USD LIBOR + 0.350%) due 12/15/29 §		4,131		4,107
Freddie Mac Structured Pass-Through Certificates
4.338% (US FED + 1.200%) due 10/25/44 §		501,792		468,875
4.538% (US FED + 1.400%) due 07/25/44 §		2,395,790		2,264,762
Government National Mortgage Association
5.059% (SOFR + 0.500%) due 01/20/72 §		2,577,069		2,520,027
5.359% (SOFR + 0.800%) due 01/20/73 §		4,527,542		4,506,403
5.439% (SOFR + 0.880%) due 02/20/73 §		5,110,443		5,111,011
5.459% (SOFR + 0.900%) due 01/20/73 §		7,532,708		7,541,486

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

58

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Government National Mortgage Association REMICS
1.968% (USD LIBOR + 0.750%) due 04/20/67 §		$4,591,986		$4,589,376
5.066% (USD LIBOR + 0.500%) due 04/20/64 §		1,486,007		1,480,877
5.116% (USD LIBOR + 0.550%) due 05/20/65 §		895,104		886,157
5.166% (USD LIBOR + 0.600%) due 07/20/65 - 08/20/65 §		5,689,813		5,629,901
5.280% (SOFR + 0.880%) due 03/20/73 §		5,000,000		4,999,469
5.309% (SOFR + 0.750%) due 10/20/72 §		5,215,617		5,193,931
5.316% (USD LIBOR + 0.750%) due 01/20/66 §		3,898,655		3,852,966
5.579% (SOFR + 1.020%) due 12/20/72 §		3,122,925		3,150,481
Great Hall Mortgages No 1 PLC (United Kingdom) 5.093% (USD LIBOR + 0.130%) due 06/18/39 § ~		1,407,635		1,389,975
GreenPoint Mortgage Funding Trust 5.385% (USD LIBOR + 0.540%) due 11/25/45 §		29,169		26,141
GS Mortgage-Backed Securities Corp. Trust 2.500% due 06/25/52 § ~		6,412,604		5,220,215
HarborView Mortgage Loan Trust 5.005% (USD LIBOR + 0.320%) due 05/25/38 §		657,246		508,565
Impac CMB Trust 5.385% (USD LIBOR + 0.270%) due 05/25/35 §		24,700		22,307
IndyMac ARM Trust 3.544% due 01/25/32 §		6,563		5,982
JP Morgan Alternative Loan Trust
5.205% (USD LIBOR + 0.360%) due 05/25/36 §		1,910,166		1,542,943
6.000% due 12/27/36 ~		896,486		501,715
JP Morgan Mortgage Trust
3.759% due 12/26/37 § ~		3,177,791		2,667,325
5.145% (USD LIBOR + 0.300%) due 10/25/35 §		1,086,701		774,022
Legacy Mortgage Asset Trust 5.882% due 10/25/59 § ~		5,439,460		5,438,523
Lehman Mortgage Trust 5.750% due 02/25/37		4,972,134		3,507,759
MASTR Adjustable Rate Mortgages Trust 4.102% due 04/21/34 §		7,464		7,058
MASTR Alternative Loan Trust 5.245% (USD LIBOR + 0.400%) due 03/25/36 §		690,416		72,276
Merrill Lynch Mortgage Investors Trust 3.471% due 06/25/35 §		14,796		13,573
Metlife Securitization Trust 3.750% due 03/25/57 § ~		4,558,693		4,314,718
New Residential Mortgage Loan Trust
3.000% due 03/25/52 § ~		6,486,555		5,508,073
3.500% due 12/25/57 § ~		3,859,451		3,652,693
OBX Trust
5.495% (USD LIBOR + 0.650%) due 06/25/57 § ~		3,971,944		3,718,481
6.120% due 11/25/62 § ~		4,892,628		4,901,168
PHH Alternative Mortgage Trust 5.165% (USD LIBOR + 0.320%) due 02/25/37 §		6,837,255		4,700,403
RBSSP Resecuritization Trust 6.250% due 12/26/36 § ~		632,041		239,256
Reperforming Loan REMIC Trust 5.185% (USD LIBOR + 0.340%) due 06/25/35 § ~		903,537		823,474
Residential Asset Securitization Trust (IO) 0.105% (4.950% - USD LIBOR) due 11/25/35 §		1,788,545		134,012

	Principal Amount		Value
Resloc UK PLC (United Kingdom) 3.117% (EUR LIBOR + 0.160%) due 12/15/43 § ~		EUR 1,733,998		$1,782,177
RFMSI Trust 4.148% due 09/25/35 §		$366,227		225,993
Ripon Mortgages PLC (United Kingdom) 4.815% (SONIA + 0.700%) due 08/28/56 § ~		GBP 8,128,564		9,962,955
RMAC Securities No. 1 PLC (United Kingdom) 4.740% (SONIA + 0.589%) due 06/12/44 § ~		3,630,850		4,169,115
Seasoned Credit Risk Transfer Trust 14.119% due 09/25/60 § ~		$2,988,505		2,115,272
Sequoia Mortgage Trust 5.461% (USD LIBOR + 0.700%) due 07/20/33 §		222,673		199,023
Structured Adjustable Rate Mortgage Loan Trust 3.845% due 01/25/35 §		50,058		49,242
Structured Asset Mortgage Investments II Trust
5.261% (USD LIBOR + 0.500%) due 07/19/35 §		66,637		60,765
5.265% (USD LIBOR + 0.420%) due 05/25/36 §		385,645		251,681
5.305% (USD LIBOR + 0.460%) due 02/25/36 §		589,049		479,588
5.405% (USD LIBOR + 0.560%) due 02/25/36 §		361,357		295,046
Structured Asset Mortgage Investments Trust 5.421% (USD LIBOR + 0.660%) due 09/19/32 §		14,856		14,011
Structured Asset Securities Corp. Trust 5.750% due 04/25/35		2,355,662		1,417,563
Suntrust Alternative Loan Trust (IO) 0.255% (5.100% - USD LIBOR) due 12/25/35 §		2,056,308		80,202
Towd Point Mortgage Funding (United Kingdom) 5.243% (SONIA + 1.350%) due 07/20/45 § ~		GBP 18,250,638		22,424,189
Towd Point Mortgage Funding PLC (United Kingdom) 5.037% (SONIA + 1.144%) due 10/20/51		7,950,963		9,820,033
UWM Mortgage Trust
2.500% due 11/25/51 § ~		$6,322,010		5,146,466
2.500% due 12/25/51 § ~		6,385,444		5,198,105
Verus Securitization Trust 5.850% due 12/25/67 § ~		4,947,657		4,911,643
Wachovia Mortgage Loan Trust LLC Trust 4.238% due 05/20/36 §		60,512		57,964
WaMu Mortgage Pass-Through Certificates Trust
3.979% due 01/25/36 §		336,739		298,113
5.385% (USD LIBOR + 0.540%) due 12/25/45 §		18,572		17,054
5.425% (USD LIBOR + 0.580%) due 10/25/45 §		17,883		16,411
Washington Mutual Mortgage Pass-Through Certificates Trust
3.968% (US FED + 0.830%) due 11/25/46 §		892,433		728,888
6.000% due 07/25/36		1,195,354		892,375
Washington Mutual Mortgage Pass-Through Certificates Trust (IO)
0.005% (4.850% - USD LIBOR) due 11/25/35 §		6,726,356		327,510
0.105% (4.950% - USD LIBOR) due 11/25/35 §		1,997,139		134,512
Washington Mutual MSC Mortgage Pass-Through Certificates Trust 3.975% due 02/25/33 §		1,760		1,638
				194,034,685

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

59

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Fannie Mae - 37.3%
due 02/25/52 #		$230,600,000		$207,142,261
due 05/12/52 #		78,000,000		76,448,449
due 04/13/53 #		300,000		269,201
due 04/13/53 #		23,200,000		23,681,219
due 04/13/53 #		88,400,000		82,146,390
due 04/13/53 #		92,000,000		87,996,913
due 04/13/53 #		61,100,000		60,942,477
due 05/11/53 #		900,000		918,105
due 05/11/53 #		14,000,000		14,423,281
due 05/11/53 #		66,700,000		67,357,880
due 05/11/53 #		99,300,000		99,032,355
2.830% (USD LIBOR + 1.455%) due 04/01/35 §		64,054		62,507
2.855% (US FED + 1.270%) due 03/01/33 §		79,504		76,690
3.000% due 04/01/27 - 08/01/52		43,101,201		38,789,676
3.000% due 08/01/52		28,317,821		25,452,593
3.000% due 09/01/52		53,457,228		48,041,917
3.055% (UST + 2.055%) due 04/01/34 §		41,688		41,237
3.095% (UST + 2.095%) due 04/01/27 §		486		479
3.416% (UST + 2.068%) due 03/01/34 §		2,015		1,961
3.500% due 05/01/33 - 05/01/35		6,997,568		6,807,864
3.505% (USD LIBOR + 1.255%) due 07/01/35 §		126,084		125,243
3.560% (USD LIBOR + 1.318%) due 08/01/35 §		98,831		96,878
3.585% (USD LIBOR + 1.335%) due 12/01/34 §		237,329		233,368
3.663% (USD LIBOR + 1.413%) due 07/01/33 §		7,270		7,081
3.663% (USD LIBOR + 1.538%) due 01/01/36 §		5,310		5,188
3.668% (USD LIBOR + 1.418%) due 12/01/34 §		2,290		2,239
3.691% (USD LIBOR + 1.373%) due 09/01/35 §		33,109		32,304
3.738% (US FED + 1.255%) due 05/01/36 §		8,764		8,486
3.820% (UST + 1.695%) due 02/01/33 §		135,852		133,991
3.993% (US FED + 1.200%) due 08/01/42 - 10/01/44 §		397,508		378,867
4.000% due 04/01/24 - 02/01/48		2,597,224		2,537,583
4.000% (USD LIBOR + 2.250%) due 06/01/34 §		1,705		1,666
4.050% (UST + 1.925%) due 02/01/33 §		1,888		1,842
4.090% (USD LIBOR + 1.840%) due 09/01/35 §		14,732		14,549
4.110% (US FED + 1.255%) due 05/01/36 §		272,119		265,887
4.150% (UST + 2.025%) due 01/01/34 §		3,770		3,826
4.171% (US FED + 1.259%) due 05/01/36 §		6,336		6,251
4.320% (USD LIBOR + 1.694%) due 03/01/33 §		2,070		2,032
4.395% (UST + 2.360%) due 11/01/34 §		739,638		759,807
4.500% due 06/01/23 - 10/01/42		301,035		302,146
5.000% due 05/01/25 - 02/01/44		1,255,989		1,273,180
5.136% (US FED + 1.731%) due 09/01/34 §		22,788		23,137

	Principal Amount		Value
5.213% (USD LIBOR + 1.550%) due 09/01/33 §		$9,836		$9,880
5.500% due 05/01/23 - 09/01/41		2,450,738		2,528,482
5.730% (USD LIBOR + 1.605%) due 08/01/36 §		17,059		17,035
6.000% due 02/01/24 - 09/01/39		1,348,587		1,394,633
6.500% due 09/01/28 - 05/11/53		235,087		243,888
7.500% due 01/01/33		7,437		7,757
8.000% due 05/01/30		1,378		1,385
				850,052,066
Freddie Mac - 1.4%
3.000% due 04/01/27 - 08/01/52		395,406		355,272
3.000% due 04/01/52 - 08/01/52		24,856,432		22,342,893
3.235% (UST + 2.249%) due 03/01/32 §		10,418		10,172
3.500% due 08/01/27 - 06/01/48		6,318,594		5,965,582
3.586% (USD LIBOR + 1.345%) due 09/01/35 §		68,651		68,621
4.000% (UST + 2.250%) due 07/01/32 §		6,064		5,963
4.000% due 11/01/33 - 04/01/48		1,569,978		1,541,276
4.262% (UST + 2.137%) due 01/01/28 §		2,136		2,083
2.624% (UST + 2.249%) due 03/01/32 §		14,084		13,805
5.500% due 06/01/23 - 05/01/40		2,144,830		2,226,033
6.000% due 05/01/29		4,638		4,739
7.000% due 10/01/37		10,549		11,129
				32,547,568
Government National Mortgage Association - 0.3%
2.625% (UST + 1.500%) due 07/20/23 - 03/20/33 §		187,479		184,255
2.750% (UST + 1.500%) due 10/20/23 - 12/20/32 §		85,191		83,050
2.875% (UST + 1.500%) due 04/20/24 - 06/20/32 §		123,656		122,226
3.000% (UST + 1.500%) due 10/20/24 - 09/20/30 §		14,495		14,143
3.125% (UST + 2.000%) due 03/20/29 §		18,212		18,010
3.500% (UST + 1.500%) due 11/20/24 §		2,102		2,070
3.500% (UST + 2.000%) due 11/20/24 §		5,796		5,695
4.000% due 03/15/44 - 09/15/49		932,038		889,231
5.000% due 05/15/33 - 07/20/49		4,647,017		4,772,654
6.000% due 06/15/38 - 09/15/38		4,544		4,657
7.500% due 07/15/31 - 12/15/31		12,577		13,402
8.000% due 12/15/29 - 08/15/32		118,608		121,219
8.500% due 09/15/29 - 12/15/30		111,708		111,951
				6,342,563
Total Mortgage-Backed Securities (Cost $1,305,110,495)				1,272,085,066
ASSET-BACKED SECURITIES - 14.8%
ABFC Trust 5.670% (USD LIBOR + 0.825%) due 07/25/35 §		4,626,799		4,191,333
ACAS CLO Ltd. (Cayman) 5.685% (USD LIBOR + 0.890%) due 10/18/28 § ~		6,039,054		5,970,386
Apres Static CLO Ltd. (Cayman) 5.862% (USD LIBOR + 1.070%) due 10/15/28 § ~		2,301,169		2,290,231

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

60

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MANAGED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Ares XL CLO Ltd. (Cayman) 5.662% (USD LIBOR + 0.870%) due 01/15/29 § ~		$5,349,782		$5,306,211
Argent Securities, Inc. Asset-Backed Pass-Through Certificates 5.605% (USD LIBOR + 0.760%) due 02/25/36 §		1,564,780		1,180,312
Asset-Backed Securities Corp. Home Equity Loan Trust 5.865% (USD LIBOR + 1.020%) due 07/25/35 §		2,000,000		1,892,146
Avoca CLO XVII DAC (Netherlands) 3.108% (EUR LIBOR + 0.820%) due 10/15/32 § ~		EUR 6,000,000		6,345,951
Benefit Street Partners CLO XVI Ltd. (Cayman) 5.822% (USD LIBOR + 1.030%) due 01/17/32 § ~		$7,000,000		6,895,000
Benefit Street Partners CLO XVII Ltd. (Cayman) 5.872% (USD LIBOR + 1.080%) due 07/15/32 § ~		7,000,000		6,889,420
BSPDF Issuer Ltd. (Cayman) 5.884% (USD LIBOR + 1.200%) due 10/15/36 § ~		7,000,000		6,895,154
Catamaran CLO Ltd. (Cayman) 5.915% (USD LIBOR + 1.100%) due 04/22/30 § ~		8,541,718		8,448,751
CIT Mortgage Loan Trust 6.195% (USD LIBOR + 1.350%) due 10/25/37 § ~		407,128		405,637
Citigroup Mortgage Loan Trust
4.995% (USD LIBOR + 0.150%) due 12/25/36 §		8,894,782		3,730,335
5.005% (USD LIBOR + 0.160%) due 12/25/36 § ~		1,847,460		1,033,439
Countrywide Asset-Backed Certificates 5.745% (USD LIBOR + 0.900%) due 03/25/47 § ~		1,308,071		1,076,259
CVC Cordatus Loan Fund XI DAC (Ireland) 2.938% (EUR LIBOR + 0.650%) due 10/15/31 § ~		EUR 6,100,000		6,452,424
CWABS Asset-Backed Certificates Trust
4.985% (USD LIBOR + 0.140%) due 06/25/47 §		$4,609,583		4,078,747
5.075% (USD LIBOR + 0.230%) due 10/25/47 §		285,376		279,870
5.125% (USD LIBOR + 0.280%) due 03/25/37 §		2,156,305		2,065,384
Delta Funding Home Equity Loan Trust 7.030% due 08/15/30		1		1
Discover Card Execution Note Trust 5.284% (USD LIBOR + 0.600%) due 12/15/26 §		6,600,000		6,599,395
DLLAD LLC 5.190% due 04/20/26 ~		4,100,000		4,086,352
Dryden 52 Euro CLO DAC (Ireland) 3.514% (EUR LIBOR + 0.860%) due 05/15/34 § ~		EUR 5,600,000		5,936,552
FBR Securitization Trust 5.610% (USD LIBOR + 0.765%) due 09/25/35 §		$28,530,000		27,537,273
First Franklin Mortgage Loan Trust 5.155% (USD LIBOR + 0.310%) due 10/25/36 §		13,900,000		10,974,311
GLS Auto Receivables Issuer Trust 3.550% due 01/15/26 ~		4,208,650		4,164,646
GSAA Home Equity Trust 5.185% (USD LIBOR + 0.340%) due 09/25/36 §		8,579,210		2,055,381

	Principal Amount		Value
Halseypoint CLO II Ltd. (Cayman) 5.908% (USD LIBOR + 1.100%) due 07/20/31 § ~		$6,742,868		$6,665,325
Harvest CLO XI DAC (Ireland) 3.640% (EUR LIBOR + 0.650%) due 06/26/30 § ~		EUR 5,513,967		5,844,631
Home Equity Asset Trust 5.625% (USD LIBOR + 0.780%) due 10/25/34 §		$1,351,582		1,336,317
Home Equity Mortgage Loan Asset-Backed Trust 5.165% (USD LIBOR + 0.320%) due 04/25/37 §		3,582,166		3,032,289
HSI Asset Securitization Corp. Trust 5.340% (USD LIBOR + 0.495%) due 02/25/36 §		451,879		422,075
Imc Home Equity Loan Trust 5.432% due 08/20/29 §		432		412
IXIS Real Estate Capital Trust 5.045% (USD LIBOR + 0.200%) due 01/25/37 §		10,245,556		3,961,946
JP Morgan Mortgage Acquisition Trust 5.280% (USD LIBOR + 0.435%) due 05/25/36 §		9,911,186		9,478,257
LCCM CLO Trust 5.884% (USD LIBOR + 1.200%) due 12/13/38 § ~		8,000,000		7,770,656
LCM CLO XIII LP (Cayman) 5.668% (USD LIBOR + 0.870%) due 07/19/27 § ~		4,432,821		4,404,083
LCM CLO XXIV Ltd. (Cayman) 5.788% (USD LIBOR + 0.980%) due 03/20/30 § ~		712,059		702,817
LCM CLO XXV Ltd. (Cayman) 5.739% (SOFR + 1.100%) due 07/20/30 § ~		6,685,859		6,607,300
Lehman ABS Mortgage Loan CLO Trust 4.935% (USD LIBOR + 0.090%) due 06/25/37 § ~		792,199		555,313
LFT CRE CLO Ltd. 5.854% (USD LIBOR + 1.170%) due 06/15/39 § ~		7,000,000		6,900,061
Magnetite CLO XVIII Ltd. (Cayman) 5.744% (USD LIBOR + 0.880%) due 11/15/28 § ~		6,387,354		6,326,675
Marble Point CLO X Ltd. (Cayman) 5.832% (USD LIBOR + 1.040%) due 10/15/30 § ~		7,019,437		6,935,091
Mastr Asset-Backed Securities Trust 5.345% (USD LIBOR + 0.500%) due 04/25/36 §		7,346,293		1,930,635
Merrill Lynch Mortgage Investors Trust 5.595% (USD LIBOR + 0.750%) due 09/25/35 §		906,803		845,085
MKS CLO Ltd. (Cayman) 5.808% (USD LIBOR + 1.000%) due 07/20/30 § ~		4,817,021		4,752,503
Morgan Stanley ABS Capital I, Inc. Trust
4.905% (USD LIBOR + 0.060%) due 05/25/37 §		144,313		126,292
5.025% (USD LIBOR + 0.180%) due 03/25/37 §		2,335,223		1,044,477
5.025% (USD LIBOR + 0.180%) due 05/25/37 §		6,311,214		5,544,200
5.065% (USD LIBOR + 0.220%) due 11/25/36 §		5,517,262		2,720,158
5.095% (USD LIBOR + 0.250%) due 03/25/37 §		3,910,140		1,751,475
Morgan Stanley Capital I, Inc. Trust 5.205% (USD LIBOR + 0.360%) due 03/25/36 §		1,514,131		1,224,564

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

61

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Option One Mortgage Loan Trust
4.985% (USD LIBOR + 0.140%) due 02/25/37 §		$4,236,155		$2,839,168
5.065% (USD LIBOR + 0.220%) due 02/25/37 §		11,730,203		5,971,910
OZLM VI Ltd. (Cayman) 5.872% (USD LIBOR + 1.080%) due 04/17/31 § ~		6,108,258		6,016,786
OZLM VIII Ltd. (Cayman) 5.772% (USD LIBOR + 0.980%) due 10/17/29 § ~		6,489,619		6,424,723
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates 5.670% (USD LIBOR + 0.825%) due 07/25/35 §		6,700,000		6,186,832
RAAC Trust 5.495% (USD LIBOR + 0.650%) due 06/25/47 §		1,553,694		1,503,095
Renaissance Home Equity Loan Trust 4.446% (USD LIBOR + 0.880%) due 08/25/33 §		137,201		124,118
Santander Drive Auto Receivables Trust
3.980% due 01/15/25		4,231,415		4,220,306
4.370% due 05/15/25		5,804,871		5,789,773
Saranac CLO VI Ltd. (Jersey) 6.294% (USD LIBOR + 1.140%) due 08/13/31 § ~		6,800,000		6,729,671
Saxon Asset Securities Trust 5.505% (USD LIBOR + 0.660%) due 10/25/35 §		2,364,242		2,226,226
Securitized Asset-Backed Receivables LLC Trust 5.505% (USD LIBOR + 0.660%) due 08/25/35 §		3,570,631		2,727,841
Sound Point CLO XVI Ltd. (Cayman) 5.798% (USD LIBOR + 0.980%) due 07/25/30 § ~		6,952,056		6,859,190
Sound Point CLO XVII Ltd. (Cayman) 5.788% (USD LIBOR + 0.980%) due 10/20/30 § ~		5,060,000		4,983,015
Soundview Home Loan Trust 4.955% (USD LIBOR + 0.110%) due 02/25/37 §		1,404,267		399,997
Stratus CLO Ltd. (Cayman) 5.708% (USD LIBOR + 0.900%) due 12/28/29 § ~		5,975,347		5,924,873
Structured Asset Investment Loan Trust 5.465% (USD LIBOR + 0.620%) due 01/25/36 §		4,568,639		4,091,924
Structured Asset Securities Corp. Mortgage Loan Trust
5.115% (USD LIBOR + 0.270%) due 03/25/36 §		1,322,981		1,208,037
5.185% (USD LIBOR + 0.340%) due 12/25/36 §		184,325		177,647
Terwin Mortgage Trust 5.265% (USD LIBOR + 0.420%) due 04/25/37 § ~		160,692		153,651
THL Credit Wind River CLO Ltd. (Cayman) 5.872% (USD LIBOR + 1.080%) due 04/15/31 § ~		7,000,000		6,860,000
Tikehau CLO DAC (Ireland) 3.410% (EUR LIBOR + 0.870%) due 08/04/34 § ~		EUR 6,000,000		6,334,107
TRTX Issuer Ltd. (Cayman) 6.208% (SOFR + 1.650%) due 02/15/39 § ~		$6,600,000		6,501,542
Venture XXVIII CLO Ltd. (Cayman) 5.798% (USD LIBOR + 0.990%) due 07/20/30 § ~		6,556,343		6,467,832
Voya CLO Ltd. (Cayman) 5.742% (USD LIBOR + 0.950%) due 04/17/30 § ~		6,103,003		6,032,838

	Principal Amount		Value
Wellfleet CLO Ltd. (Cayman) 5.698% (USD LIBOR + 0.890%) due 04/20/29 § ~		$3,732,726		$3,696,081
Total Asset-Backed Securities (Cost $352,081,309)				338,114,721
U.S. GOVERNMENT AGENCY ISSUE - 1.5%
Freddie Mac 0.680% due 08/06/25		35,600,000		32,907,645
Total U.S. Government Agency Issue (Cost $35,600,000)				32,907,645
U.S. TREASURY OBLIGATIONS - 15.4%
U.S. Government Agency Issue - 0.8%
0.625% due 07/15/32 ^		19,661,731		18,795,746
U.S. Treasury Bonds - 13.1%
1.375% due 11/15/40		25,850,000		17,827,412
1.625% due 11/15/50		10,200,000		6,547,125
1.875% due 02/15/41 ‡		4,700,000		3,519,217
2.000% due 02/15/50 ‡		2,900,000		2,057,188
2.250% due 08/15/49 ‡		2,800,000		2,107,219
2.500% due 02/15/45 ‡		1,300,000		1,038,350
2.750% due 08/15/42		26,200,000		22,314,008
2.875% due 05/15/43 ‡		5,500,000		4,756,533
2.875% due 08/15/45		30,100,000		25,673,772
3.000% due 02/15/49 ‡		2,050,000		1,795,992
3.125% due 02/15/42 ‡		8,000,000		7,266,875
3.125% due 08/15/44		35,400,000		31,612,476
3.250% due 05/15/42 ‡		78,300,000		72,286,804
3.375% due 05/15/44		26,300,000		24,481,602
3.625% due 02/15/44		13,500,000		13,070,215
3.750% due 11/15/43		20,900,000		20,661,201
4.250% due 05/15/39 ‡		4,900,000		5,290,660
4.375% due 11/15/39		20,700,000		22,631,730
4.500% due 08/15/39		7,700,000		8,555,873
4.625% due 02/15/40 ‡		5,500,000		6,194,160
				299,688,412
U.S. Treasury Inflation Protected Securities - 1.5%
0.125% due 10/15/24 ^ ‡		1,049,184		1,024,872
0.125% due 07/15/31 ^		15,846,206		14,604,872
0.125% due 01/15/32 ^		4,747,468		4,339,775
0.250% due 02/15/50 ^		814,352		591,698
0.500% due 04/15/24 ^ ‡		1,304,490		1,283,576
0.625% due 01/15/24 ^		10,382,904		10,295,423
1.000% due 02/15/49 ^		1,664,040		1,482,288
				33,622,504
U.S. Treasury Notes - 0.0%
2.250% due 08/15/27 ‡		20,000		18,874
Total U.S. Treasury Obligations (Cost $398,175,263)				352,125,536
FOREIGN GOVERNMENT BONDS & NOTES - 1.9%
Chile Government (Chile) 3.500% due 01/31/34		7,000,000		6,246,909
Hydro-Quebec (Canada) 8.625% due 06/15/29		1,000,000		1,227,303
Israel Government International (Israel) 3.875% due 07/03/50		2,600,000		2,177,656

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

62

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Japan Finance Organization for Municipalities (Japan) 3.375% due 09/27/23 ~		$3,200,000		$3,172,768
Peruvian Government (Peru)
6.350% due 08/12/28 ~		PEN 7,500,000		1,945,012
8.200% due 08/12/26 ~		14,800,000		4,120,591
Republic of Poland Government (Poland) due 04/04/53 #		$2,100,000		2,130,975
Romanian Government (Romania) 3.000% due 02/27/27 ~		6,500,000		5,927,935
Saudi Government (Saudi Arabia)
4.875% due 07/18/33 ~		5,000,000		5,055,315
5.000% due 01/18/53 ~		5,000,000		4,657,890
State of Israel (Israel) 3.800% due 05/13/60 ~		9,000,000		7,010,837
Total Foreign Government Bonds & Notes (Cost $49,045,513)				43,673,191
SHORT-TERM INVESTMENTS - 8.9%
Commercial Paper - 1.6%
BAT International Finance PLC (United Kingdom)
5.900% due 05/24/23		1,800,000		1,785,380
5.900% due 05/25/23		2,800,000		2,776,814
Constellation Brands, Inc.
5.260% due 04/04/23		6,200,000		6,196,263
5.290% due 04/12/23		4,900,000		4,891,053
Dominion Energy, Inc. 5.800% due 04/24/23		2,600,000		2,590,961
Edison International 5.550% due 05/19/23		4,600,000		4,567,812
Entergy Corp. 5.000% due 04/05/23		4,900,000		4,896,499
NextEra Energy Capital Holdings, Inc. 5.600% due 05/08/23		4,600,000		4,573,367
Walgreens Boots Alliance, Inc. 5.180% due 04/03/23		4,900,000		4,897,862
				37,176,011
Repurchase Agreements - 7.2%
BNP Paribas SA
4.910% due 04/03/23 (Dated 03/31/23, repurchase price of $49,820,377; collateralized by U.S. Treasury Notes: 1.130% due 10/31/26 and value $50,527,161)		49,800,000		49,800,000
4.820% due 04/04/23 (Dated 04/03/23, repurchase price of $53,607,176; collateralized by U.S. Treasury Notes: 0.130% due 04/15/27 and value $54,466,628)		53,600,000		53,600,000
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $8,791,570; collateralized by U.S. Treasury Notes: 2.875% due 06/15/2025 and value $8,964,147)		8,788,311		8,788,311
Royal Bank of Canada
4.440% due 04/05/23 (Dated 03/29/23, repurchase price of $29,621,946; collateralized by Province of Ontario: 4.700% due 06/02/37 and value $29,774,340)		CAD 40,000,000		29,596,744
4.400% due 04/06/23 (Dated 03/30/23, repurchase price of $11,108,145; collateralized by Province of Ontario: 2.900% due 06/02/49 and value $11,301,297)		15,000,000		11,098,779

	Principal Amount		Value
4.420% due 04/06/23 (Dated 03/30/23, repurchase price of $11,108,187; collateralized by Province of Ontario: 2.800% due 06/02/48 and value $11,300,489)		CAD 15,000,000		$11,098,779
				163,982,613
U.S. Treasury Bills - 0.1%
2.366% due 04/06/23		$748,000		747,713
4.547% due 04/06/23		504,000		503,806
				1,251,519
Total Short-Term Investments (Cost $201,961,249)				202,410,143
TOTAL INVESTMENTS - 132.5% (Cost $3,186,552,166)				3,020,676,654
TOTAL SECURITIES SOLD SHORT - (1.6%) (Proceeds $35,992,969)				(36,167,093	)
DERIVATIVES - (0.4%)				(8,977,548	)
OTHER ASSETS & LIABILITIES, NET - (30.5%)				(695,143,781	)
NET ASSETS - 100.0%				$2,280,388,232

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $894,713 or less than 0.1% of the Fund’s net assets were in default as of March 31, 2023.

(b) The average amount of borrowings by the Fund on reverse repurchase agreements during the period ended March 31, 2023 was $ 18,149,315 at a weighted average interest rate of 4.461%. The average amount of borrowings by the Fund on sale-buyback financing transactions during the period ended March 31, 2023 was $ 377,530 at a weighted average interest rate of 4.588%.

(c) Securities sold short outstanding as of March 31, 2023 were as follows:

Description	Principal Amount			Value
Mortgage-Backed Securities - (1.6%)
Fannie Mae
due 05/11/53 #		($16,800,000	)		($13,903,507	)
due 05/11/53 #		(25,800,000	)		(22,263,586	)
Total Securities Sold Short (Proceeds $35,992,969)					($36,167,093	)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

63

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(d) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month	Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Euro-Bobl	06/23		142		$17,741,590		$18,153,400		$411,810
Eurodollar	12/23		41		9,891,293		9,782,600		(108,693	)
U.S. Treasury 5-Year Notes	06/23		2,489		266,967,980		272,564,947		5,596,967
U.S. Treasury Ultra Long Bonds	06/23		62		8,396,738		8,749,750		353,012
									6,253,096
Short Futures Outstanding
Euro-BTP	06/23		56		6,780,235		7,005,435		(225,200	)
Euro-Bund	06/23		600		85,653,427		88,391,079		(2,737,652	)
Euro-Buxl	06/23		28		4,008,282		4,277,354		(269,072	)
Euro-OAT	06/23		60		8,203,311		8,474,065		(270,754	)
Japan 10-Year Bonds	06/23		96		105,113,617		107,094,860		(1,981,243	)
U.S. Treasury 2-Year Notes	06/23		1,057		216,019,026		218,220,954		(2,201,928	)
U.S. Treasury 10-Year Notes	06/23		498		57,051,665		57,231,094		(179,429	)
U.S. Treasury 30-Year Bonds	06/23		18		2,253,489		2,360,813		(107,324	)
									(7,972,602	)
Total Futures Contracts									($1,719,506	)

(e) Forward foreign currency contracts outstanding as of March 31, 2023 were as follows:

Currency Purchased		Currency Sold		Settlement Month	Counterparty	Unrealized Appreciation		Unrealized Depreciation
AUD	34,651,000	USD	23,964,063	05/23	BOA		$-		($766,674	)
BRL	16,329,176	USD	3,162,680	04/23	CIT		59,050		-
CAD	163,472	USD	120,765	04/23	BOA		192		-
CAD	140,008	USD	103,506	04/23	HSB		90		-
CNH	30,424,087	USD	4,390,200	05/23	UBS		48,988		-
DKK	3,560,515	USD	517,216	04/23	BNP		1,103		-
DKK	34,150,000	USD	4,921,227	04/23	BOA		50,132		-
DKK	2,472,301	USD	360,315	04/23	CIT		-		(412	)
EUR	1,136,000	USD	1,238,984	05/23	BOA		-		(4,079	)
EUR	937,000	USD	1,001,747	05/23	BOA		16,832		-
EUR	2,947,000	USD	3,160,462	05/23	SCB		43,116		-
GBP	1,079,000	USD	1,301,914	05/23	BNP		30,286		-
GBP	1,171,000	USD	1,431,081	05/23	CIT		14,707		-
GBP	7,726,000	USD	9,434,072	05/23	NWM		104,923		-
IDR	174,032,408,324	USD	11,372,144	06/23	BNP		251,768		-
IDR	13,720,881,230	USD	914,981	06/23	CIT		1,800		-
IDR	3,203,760,000	USD	211,065	06/23	SCB		2,999		-
JPY	1,379,495,005	USD	10,532,982	05/23	BNP		-		(79,989	)
JPY	260,300,000	USD	1,979,479	05/23	HSB		-		(7,081	)
JPY	206,000,000	USD	1,580,762	05/23	SCB		-		(19,817	)
JPY	739,598,729	USD	5,659,937	05/23	TDB		-		(55,698	)
MXN	54,380	USD	2,906	06/23	CIT		67		-
PEN	27,414,101	USD	6,933,554	04/23	CIT		346,985		-
PEN	2,861,060	USD	756,434	04/23	JPM		3,920		-
PEN	21,911,683	USD	5,800,885	05/23	BOA		10,944		-
PEN	9,032,080	USD	2,318,681	06/23	CIT		69,474		-
PEN	1,986,149	USD	508,448	08/23	CIT		15,225		-
THB	413,287,544	USD	12,616,000	04/23	GSC		-		(513,256	)
TWD	31,574,009	USD	1,043,000	06/23	BNP		-		(822	)
USD	1,927,548	AUD	2,876,000	05/23	SCB		2,187		-
USD	3,167,823	BRL	16,329,176	04/23	CIT		-		(53,907	)
USD	14,880,470	CAD	20,321,030	04/23	BNP		-		(155,820	)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

64

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MANAGED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Currency Purchased		Currency Sold		Settlement Month	Counterparty		Unrealized Appreciation		Unrealized Depreciation
USD	11,042,102	CAD	15,012,686	04/23		BOA		$–		($66,490	)
USD	14,655,322	CAD	20,017,030	04/23		CIT		–		(156,030	)
USD	11,042,076	CAD	15,012,687	04/23		JPM		–		(66,516	)
USD	120,765	CAD	163,405	05/23		BOA		–		(193	)
USD	103,506	CAD	139,950	05/23		HSB		–		(89	)
USD	32,285	CNH	218,000	04/23		BOA		542		–
USD	4,656,963	CNH	31,252,879	05/23		HSB		96,846		–
USD	2,870,566	DKK	20,130,461	04/23		BOA		–		(59,909	)
USD	3,124,091	DKK	21,979,638	04/23		CIT		–		(75,577	)
USD	517,216	DKK	3,553,895	05/23		BNP		–		(1,087	)
USD	280,978	DKK	1,921,093	05/23		BRC		804		–
USD	360,315	DKK	2,467,671	05/23		CIT		428		–
USD	50,667,353	EUR	47,204,000	05/23		BNP		–		(646,419	)
USD	876,469	EUR	817,000	05/23		BOA		–		(11,662	)
USD	1,235,425	EUR	1,150,000	05/23		CIT		–		(14,699	)
USD	717,196	GBP	587,000	05/23		BOA		–		(7,551	)
USD	79,862,541	GBP	66,096,000	05/23		BRC		–		(1,743,649	)
USD	26,900	IDR	414,855,089	06/23		BNP		–		(807	)
USD	1,097,000	IDR	16,901,479,000	06/23		MSC		–		(32,298	)
USD	3,065,851	JPY	404,200,000	05/23		BOA		3,064		–
USD	2,705,905	JPY	358,700,000	05/23		CIT		–		(12,110	)
USD	3,477,405	JPY	462,800,000	05/23		HSB		–		(29,418	)
USD	5,811,347	PEN	21,911,683	04/23		BOA		–		(9,240	)
USD	4,998,438	PEN	19,739,730	04/23		CIT		–		(239,087	)
USD	761,305	PEN	2,861,060	04/23		JPM		951		–
USD	1,774,578	PEN	6,806,038	05/23		BOA		–		(29,720	)
USD	8,491,744	PEN	33,695,239	05/23		CIT		–		(438,139	)
USD	3,152,294	PEN	12,247,922	07/23		CIT		–		(83,760	)
USD	936,000	THB	31,766,436	04/23		CIT		5,749		–
USD	6,910,091	TWD	210,785,423	06/23		BNP		–		(48,253	)
USD	4,036	TWD	123,280	06/23		CIT		–		(33	)
USD	5,114,268	TWD	155,917,406	06/23		GSC		–		(32,169	)
USD	338,910	TWD	10,330,994	06/23		SCB		–		(2,132	)
Total Forward Foreign Currency Contracts								$1,183,172		($5,464,592	)

(f) Purchased options outstanding as of March 31, 2023 were as follows:

Interest Rate Swaptions

Description

Pay/Receive Floating Rate

Floating Rate Index

Exercise Rate

Expiration Date

Counter- party

Notional Amount

Cost

Value

Put - 10-Year Interest Rate Swap

Receive

SOFR

4.200%

09/06/23

GSC

$7,900,000

$79,000

$21,741

Put - 1-Year Interest Rate Swap

Receive

SOFR

3.750%

09/11/23

MSC

142,500,000

1,083,000

948,722

Put - 1-Year Interest Rate Swap

Receive

SOFR

3.750%

09/12/23

BOA

75,600,000

604,800

503,299

Put - 10-Year Interest Rate Swap

Receive

SOFR

3.850%

03/04/24

BOA

6,100,000

146,146

71,319

Total Purchased Options

$1,912,946

$1,545,081

(g) Premiums received and value of written options outstanding as of March 31, 2023 were as follows:

Interest Rate Swaptions

Description	Pay/Receive Floating Rate		Floating Rate Index		Exercise Rate		Expiration Date		Counter- party	Notional Amount		Premium		Value
Call - 10-Year Interest Rate Swap		Receive		SOFR		2.950%		05/04/23	GSC		$3,900,000		$20,329		($20,329	)
Call - 10-Year Interest Rate Swap		Receive		6-Month EUR-LIBOR		2.067%		06/09/23	GSC		EUR 5,500,000		64,592		(8,578	)
Call - 1-Year Interest Rate Swap		Receive		SOFR		2.910%		11/10/23	GSC		$9,300,000		61,729		(17,212	)
Call - 1-Year Interest Rate Swap		Receive		SOFR		2.150%		11/20/23	GSC		9,600,000		33,480		(8,644	)
													180,130		(54,763	)
Put - 10-Year Interest Rate Swap		Pay		SOFR		3.450%		05/04/23	GSC		3,900,000		20,329		(20,329	)
Put - 10-Year Interest Rate Swap		Pay		6-Month EUR-LIBOR		3.140%		06/09/23	GSC		EUR 5,500,000		76,014		(64,992	)
Put - 1-Year Interest Rate Swap		Pay		SOFR		5.766%		09/06/23	GSC		$65,000,000		78,000		(16,581	)
Put - 1-Year Interest Rate Swap		Pay		SOFR		4.233%		09/11/23	MSC		142,500,000		684,000		(556,947	)
Put - 1-Year Interest Rate Swap		Pay		SOFR		4.715%		09/11/23	MSC		142,500,000		399,000		(283,532	)
Put - 1-Year Interest Rate Swap		Pay		SOFR		4.250%		09/12/23	BOA		75,600,000		378,000		(289,004	)
Put - 1-Year Interest Rate Swap		Pay		SOFR		4.750%		09/12/23	BOA		75,600,000		226,800		(142,408	)
Put - 1-Year Interest Rate Swap		Pay		SOFR		2.910%		11/10/23	GSC		9,300,000		61,729		(105,059	)
Put - 1-Year Interest Rate Swap		Pay		SOFR		3.650%		11/20/23	GSC		9,600,000		33,480		(58,939	)
Put - 1-Year Interest Rate Swap		Pay		SOFR		5.100%		03/04/24	BOA		50,800,000		146,685		(43,983	)
													2,104,037		(1,581,774	)
Total Interest Rate Swaptions													$2,284,167		($1,636,537	)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

65

PACIFIC SELECT FUND

MANAGED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Options on Futures

Description	Exercise Price		Expiration Date		Exchange	Number of Contracts		Notional Amount		Premium		Value
Call - U.S. Treasury 5-Year Notes (05/23)		$111.50		04/21/23	CME		26		$2,899,000		$10,577		($5,484	)
Cal - U.S. Treasury 10-Year Notes (05/23)		119.00		04/21/23	CME		92		10,948,000		84,110		(11,500	)
											94,687		(16,984	)
Put - U.S. Treasury 5-Year Notes (05/23)		108.50		04/21/23	CME		26		2,821,000		8,771		(6,906	)
Put - U.S. Treasury 10-Year Notes (05/23)		112.00		04/21/23	CME		92		10,304,000		49,263		(10,063	)
Put - Eurodollar (12/23)		96.50		12/18/23	CME		466		112,422,500		488,963		(1,537,800	)
											546,997		(1,554,769	)
Total Options on Futures											$641,684		($1,571,753	)
Total Written Options											$2,925,851		($3,208,290	)

(h) Swap agreements outstanding as of March 31, 2023 were as follows:

Credit Default Swaps on Corporate and Sovereign Issues - Sell Protection (1)

Referenced Obligation	Payment Frequency	Fixed Deal Receive Rate		Expiration Date		Counter- party	Implied Credit Spread at 03/31/23 (2)		Notional Amount (3)		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Banco do Brasil SA	Q		1.000%		12/20/24	JPM		1.566%		$2,500,000		($22,430	)		($52,673	)		$30,243
South Africa Government	Q		1.000%		12/20/26	MSC		2.168%		4,800,000		(186,904	)		(161,400	)		(25,504	)
Colombia Government	Q		1.000%		06/20/27	GSC		2.348%		4,600,000		(231,065	)		(152,757	)		(78,308	)
Colombia Government	Q		1.000%		06/20/27	MSC		2.348%		1,600,000		(80,371	)		(73,120	)		(7,251	)
Colombia Government	Q		1.000%		12/20/27	GSC		2.611%		2,100,000		(138,836	)		(170,860	)		32,024
Colombia Government	Q		1.000%		12/20/27	MSC		2.611%		1,900,000		(125,613	)		(154,587	)		28,974
												(785,219	)		(765,397	)		(19,822	)
						Exchange
Barclays Bank PLC	Q		1.000%		12/20/23	ICE		0.909%		EUR 2,400,000		2,754			1,981			773
General Electric Co.	Q		1.000%		12/20/23	ICE		0.267%		$2,900,000		16,162			(19,415	)		35,577
General Electric Co.	Q		1.000%		06/20/24	ICE		0.358%		3,950,000		31,657			(19,569	)		51,226
General Electric Co.	Q		1.000%		12/20/24	ICE		0.430%		2,200,000		21,625			(11,993	)		33,618
Boeing Co.	Q		1.000%		06/20/25	ICE		1.000%		6,900,000		56,202			(78,506	)		134,708
Rolls-Royce PLC	Q		1.000%		06/20/25	ICE		1.475%		EUR 4,300,000		(43,311	)		(314,595	)		271,284
Verizon Communications, Inc.	Q		1.000%		12/20/26	ICE		0.817%		$7,300,000		48,163			124,114			(75,951	)
British Telecommunications PLC	Q		1.000%		06/20/28	ICE		1.157%		EUR 6,200,000		(49,666	)		(25,147	)		(24,519	)
												83,586			(343,130	)		426,716
Total Credit Default Swaps on Corporate and Sovereign Issues – Sell Protection												($701,633	)		($1,108,527	)		$406,894

Credit Default Swaps on Credit Indices - Buy Protection (4)

Referenced Obligation	Payment Frequency	Fixed Deal Pay Rate		Expiration Date		Exchange	Notional Amount (3)		Value (5)			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
CDX HY35 5Y	Q		5.000%		12/20/25	ICE		$2,475,000		($73,933	)		($96,188	)		$22,255
CDX HY36 5Y	Q		5.000%		06/20/26	ICE		4,752,000		(152,354	)		(284,845	)		132,491
										($226,287	)		($381,033	)		$154,746
Credit Default Swaps on Credit Indices - Sell Protection (1)
Referenced Obligation	Payment Frequency	Fixed Deal Receive Rate		Expiration Date		Exchange	Notional Amount (3)		Value (5)			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
CDX IG39 5Y	Q		1.000%		12/20/27	ICE		$6,400,000		$76,571			$41,617			$34,954
CDX IG40 5Y	Q		1.000%		06/20/28	ICE		10,000,000		117,703			73,678			44,025
										$194,274			$115,295			$78,979
Total Credit Default Swaps										($733,646	)		($1,374,265	)		$640,619

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

66

PACIFIC SELECT FUND

MANAGED BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(1) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying investments comprising the referenced index or (ii) pay a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.

(2) An implied credit spread is the spread in yield between a U.S. Treasury security and the referenced obligation or underlying investment that are identical in all respects except for the quality rating. Implied credit spreads, represented in the absolute terms, utilized in determining the value of credit default swap agreements on corporate and sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter the agreement. Wider credit spreads, in comparison to narrower credit spreads, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.

(3) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.

(5) The quoted market prices and resulting values for credit default swap agreements on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of three-month period end. Increasing values (buy protection) or decreasing values (sell protection), when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

Interest Rate Swaps - Long
Receive	Pay	Payment Frequency Receive Rate/ Pay Rate		Exchange		Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
0.000%	1-Day JPY-TONAR		A/A		LCH		03/17/24		JPY 21,440,000,000		($84,097	)		$134,738			($218,835	)
12.600%	Brazil CETIP Interbank		Z/Z		CME		01/02/25		BRL 750,000		367			-			367
11.960%	Brazil CETIP Interbank		Z/Z		CME		01/04/27		33,800,000		(53,959	)		-			(53,959	)
11.980%	Brazil CETIP Interbank		Z/Z		CME		01/04/27		39,600,000		(58,756	)		-			(58,756	)
12.980%	Brazil CETIP Interbank		Z/Z		CME		01/04/27		35,200,000		150,005			-			150,005
12.990%	Brazil CETIP Interbank		Z/Z		CME		01/04/27		17,600,000		75,821			-			75,821
13.024%	Brazil CETIP Interbank		Z/Z		CME		01/04/27		17,600,000		78,599			-			78,599
1.788%	1-Day USD-SOFR		A/A		LCH		05/03/27		$21,500,000		(1,608,695	)		(61,525	)		(1,547,170	)
1.000%	6-Month EUR-LIBOR		A/S		LCH		05/18/27		EUR 29,000,000		(2,504,251	)		(485,891	)		(2,018,360	)
2.850%	1-Day USD-SOFR		A/A		LCH		08/29/27		$50,500,000		(1,488,896	)		(231,306	)		(1,257,590	)
2.547%	6-Month EUR-LIBOR		A/S		LCH		03/09/33		EUR 4,500,000		(174,634	)		(100,010	)		(74,624	)
3.000%	6-Month EUR-LIBOR		A/S		LCH		09/20/33		68,200,000		423,127			(481,929	)		905,056
0.450%	1-Day JPY-TONAR		A/A		LCH		12/15/51		JPY 310,000,000		(358,836	)		(216,279	)		(142,557	)
											($5,604,205	)		($1,442,202	)		($4,162,003	)
Interest Rate Swaps - Short
Pay	Receive	Payment Frequency Pay Rate/ Receive Rate		Exchange		Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
12.351%	Brazil CETIP Interbank		Z/Z		CME		01/04/27		BRL 31,300,000		($52,285	)		$-			($52,285	)
12.417%	Brazil CETIP Interbank		Z/Z		CME		01/04/27		78,300,000		(154,282	)		-			(154,282	)
1.750%	1-Day USD-SOFR		A/A		CME		06/15/32		$34,800,000		4,442,188			4,969,338			(527,150	)
3.156%	1-Day USD-SOFR		A/A		LCH		03/10/33		27,600,000		(185,389	)		-			(185,389	)
0.750%	1-Day JPY-TONAR		S/S		LCH		03/20/38		JPY 50,000,000		8,402			(17,549	)		25,951
0.800%	1-Day JPY-TONAR		S/S		LCH		10/22/38		220,000,000		26,248			110			26,138
0.705%	1-Day JPY-TONAR		S/S		LCH		10/31/38		170,000,000		39,180			8,720			30,460
0.785%	1-Day JPY-TONAR		S/S		LCH		11/12/38		310,000,000		44,205			884			43,321
0.750%	1-Day JPY-TONAR		S/S		LCH		12/20/38		42,800,000		8,293			(18,364	)		26,657
0.500%	1-Day JPY-TONAR		A/A		LCH		03/15/42		2,459,000,000		1,564,096			677,552			886,544
0.662%	1-Day JPY-TONAR		A/A		LCH		04/19/42		138,000,000		52,292			-			52,292
0.800%	1-Day JPY-TONAR		A/A		LCH		06/15/52		3,770,000,000		1,748,820			(6,832	)		1,755,652
1.750%	1-Day USD-SOFR		A/A		CME		12/21/52		$11,600,000		2,788,076			2,118,574			669,502
3.250%	1-Day GBP-SONIA		A/A		LCH		09/20/53		GBP 7,300,000		(167,419	)		222,021			(389,440	)
											$10,162,425			$7,954,454			$2,207,971
Total Interest Rate Swaps											$4,558,220			$6,512,252			($1,954,032	)
Total Swap Agreements											$3,824,574			$5,137,987			($1,313,413	)

(i) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023			Level 1 Quoted Price			Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$231,298			$231,298			$-			$-
	Corporate Bonds & Notes		779,129,054			-			779,129,054			-
	Mortgage-Backed Securities		1,272,085,066			-			1,272,085,066			-
	Asset-Backed Securities		338,114,721			-			338,114,721			-
	U.S. Government Agency Issue		32,907,645			-			32,907,645			-
	U.S. Treasury Obligations		352,125,536			-			352,125,536			-
	Foreign Government Bonds & Notes		43,673,191			-			43,673,191			-
	Short-Term Investments		202,410,143			-			202,410,143			-
	Derivatives:
	Credit Contracts
	Swaps		852,152			-			852,152			-
	Foreign Currency Contracts
	Forward Foreign Currency Contracts		1,183,172			-			1,183,172			-
	Interest Rate Contracts
	Futures		6,361,789			6,361,789			-			-
	Purchased Options		1,545,081			-			1,545,081			-
	Swaps		4,726,365			-			4,726,365			-
	Total Interest Rate Contracts		12,633,235			6,361,789			6,271,446			-
	Total Asset - Derivatives		14,668,559			6,361,789			8,306,770			-
	Total Assets		3,035,345,213			6,593,087			3,028,752,126			-
Liabilities	Securities Sold Short
	Mortgage-Backed Securities		(36,167,093	)		-			(36,167,093	)		-
	Derivatives:
	Credit Contracts
	Swaps		(211,533	)		-			(211,533	)		-
	Foreign Currency Contracts
	Forward Foreign Currency Contracts		(5,464,592	)		-			(5,464,592	)		-
	Interest Rate Contracts
	Futures		(8,081,295	)		(8,081,295	)		-			-
	Written Options		(3,208,290	)		-			(3,208,290	)		-
	Swaps		(6,680,397	)		-			(6,680,397	)		-
	Total Interest Rate Contracts		(17,969,982	)		(8,081,295	)		(9,888,687	)		-
	Total Liabilities - Derivatives		(23,646,107	)		(8,081,295	)		(15,564,812	)		-
	Total Liabilities		(59,813,200	)		(8,081,295	)		(51,731,905	)		-
	Total		$2,975,532,013			($1,488,208	)		$2,977,020,221			$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

67

PACIFIC SELECT FUND

SHORT DURATION BOND PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Principal Amount		Value
CORPORATE BONDS & NOTES - 44.8%
Basic Materials - 1.9%
ArcelorMittal SA (Luxembourg) 3.600% due 07/16/24		$1,135,000		$1,111,958
Celanese US Holdings LLC
5.900% due 07/05/24		3,770,000		3,773,126
6.050% due 03/15/25		4,505,000		4,533,996
Celulosa Arauco y Constitucion SA (Chile) 4.500% due 08/01/24		1,300,000		1,276,009
Ecolab, Inc.
1.650% due 02/01/27		1,050,000		952,433
5.250% due 01/15/28		2,910,000		3,020,930
LG Chem Ltd. (South Korea) 3.250% due 10/15/24 ~		3,000,000		2,918,339
LYB International Finance III LLC 1.250% due 10/01/25		1,943,000		1,761,266
Nucor Corp.
2.000% due 06/01/25		670,000		630,508
3.950% due 05/23/25		1,280,000		1,260,467
Nutrien Ltd. (Canada) 4.900% due 03/27/28		1,020,000		1,020,468
POSCO (South Korea)
4.375% due 08/04/25 ~		2,000,000		1,969,164
5.625% due 01/17/26 ~		4,500,000		4,551,651
Sherwin-Williams Co.
4.050% due 08/08/24		480,000		474,128
4.250% due 08/08/25		970,000		959,698
Westlake Corp. 0.875% due 08/15/24		1,805,000		1,710,670
				31,924,811
Communications - 2.9%
Charter Communications Operating LLC/Charter Communications Operating Capital 4.908% due 07/23/25		8,549,000		8,467,132
Comcast Corp.
3.375% due 08/15/25		1,710,000		1,671,143
3.950% due 10/15/25		250,000		247,295
Cox Communications, Inc. 3.150% due 08/15/24 ~		4,606,000		4,491,196
KT Corp. (South Korea) 4.000% due 08/08/25 ~		1,680,000		1,645,226
NBN Co. Ltd. (Australia) 1.450% due 05/05/26 ~		3,725,000		3,369,248
NTT Finance Corp. (Japan)
0.583% due 03/01/24 ~		1,065,000		1,021,432
4.142% due 07/26/24 ~		440,000		436,136
4.239% due 07/25/25 ~		385,000		379,964
Rogers Communications, Inc. (Canada) 3.200% due 03/15/27 ~		2,995,000		2,820,059
SES SA (Luxembourg) 3.600% due 04/04/23 ~		1,670,000		1,670,000
Sky Ltd. (United Kingdom) 3.750% due 09/16/24 ~		6,130,000		6,013,993
T-Mobile USA, Inc.
2.250% due 02/15/26		1,895,000		1,764,171
3.500% due 04/15/25		3,470,000		3,374,863
Verizon Communications, Inc.
0.850% due 11/20/25		3,620,000		3,296,986
1.450% due 03/20/26		3,050,000		2,807,576
2.625% due 08/15/26		3,610,000		3,414,640
				46,891,060

	Principal Amount		Value
Consumer, Cyclical - 4.2%
7-Eleven, Inc. 0.800% due 02/10/24 ~		$1,285,000		$1,230,769
Advance Auto Parts, Inc. 5.900% due 03/09/26		535,000		546,236
American Airlines Pass-Through Trust Class B 3.700% due 04/15/27		893,836		834,904
AutoZone, Inc. 3.625% due 04/15/25		1,320,000		1,287,056
Brunswick Corp. 0.850% due 08/18/24		3,440,000		3,214,532
Daimler Truck Finance North America LLC (Germany)
1.625% due 12/13/24 ~		2,665,000		2,523,443
5.150% due 01/16/26 ~		765,000		768,448
5.200% due 01/17/25 ~		950,000		952,075
General Motors Financial Co., Inc. 2.900% due 02/26/25		4,520,000		4,317,079
Genuine Parts Co. 1.750% due 02/01/25		1,065,000		1,006,682
Hasbro, Inc. 3.000% due 11/19/24		4,800,000		4,631,131
Hyatt Hotels Corp. 1.300% due 10/01/23		1,150,000		1,125,998
Hyundai Capital America
0.800% due 01/08/24 ~		1,570,000		1,512,973
0.875% due 06/14/24 ~		2,015,000		1,908,467
1.000% due 09/17/24 ~		1,305,000		1,223,905
5.500% due 03/30/26 ~		1,125,000		1,127,342
5.600% due 03/30/28 ~		1,480,000		1,483,515
Hyundai Capital Services, Inc. (South Korea) 2.125% due 04/24/25 ~		1,010,000		947,688
Lowe’s Cos., Inc.
3.350% due 04/01/27		825,000		791,529
4.400% due 09/08/25		2,772,000		2,759,973
4.800% due 04/01/26		1,635,000		1,645,109
Marriott International, Inc.
3.750% due 03/15/25		475,000		462,330
4.900% due 04/15/29		510,000		505,783
5.750% due 05/01/25		480,000		483,592
Mercedes-Benz Finance North America LLC (Germany)
4.800% due 03/30/26 ~		1,725,000		1,727,539
4.950% due 03/30/25 ~		1,350,000		1,351,850
Nissan Motor Acceptance Co. LLC 3.875% due 09/21/23 ~		250,000		247,240
Nissan Motor Co. Ltd. (Japan) 3.043% due 09/15/23 ~		4,460,000		4,394,090
Nordstrom, Inc. 2.300% due 04/08/24		320,000		306,022
QVC, Inc. 4.850% due 04/01/24		2,385,000		1,911,029
Ross Stores, Inc.
0.875% due 04/15/26		960,000		854,790
4.600% due 04/15/25		5,315,000		5,306,904
Starbucks Corp. 4.750% due 02/15/26		2,105,000		2,118,259
Stellantis Finance US, Inc. 1.711% due 01/29/27 ~		1,940,000		1,717,530
United Airlines Pass-Through Trust Class B 3.500% due 11/01/29		536,390		485,576
Volkswagen Group of America Finance LLC (Germany)
0.875% due 11/22/23 ~		1,415,000		1,376,368
3.125% due 05/12/23 ~		680,000		678,084
3.950% due 06/06/25 ~		1,765,000		1,731,962
Warnermedia Holdings, Inc.
3.755% due 03/15/27 ~		6,730,000		6,343,526
6.412% due 03/15/26		1,170,000		1,176,262
				69,017,590

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

68

PACIFIC SELECT FUND

SHORT DURATION BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Consumer, Non-Cyclical - 8.1%
AbbVie, Inc.
2.600% due 11/21/24		$7,590,000		$7,327,991
2.950% due 11/21/26		5,005,000		4,765,419
3.200% due 05/14/26		335,000		323,646
Amgen, Inc.
5.150% due 03/02/28		1,910,000		1,951,169
5.250% due 03/02/25		2,395,000		2,422,550
Anheuser-Busch Cos., LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium) 3.650% due 02/01/26		2,665,000		2,617,377
Astrazeneca Finance LLC (United Kingdom) 1.200% due 05/28/26		3,930,000		3,581,246
BAT International Finance PLC (United Kingdom)
1.668% due 03/25/26		2,395,000		2,180,945
4.448% due 03/16/28		4,490,000		4,271,896
Bayer US Finance II LLC (Germany) 3.875% due 12/15/23 ~		3,750,000		3,708,646
Becton Dickinson & Co.
3.363% due 06/06/24		1,616,000		1,586,757
3.734% due 12/15/24		1,473,000		1,440,888
4.693% due 02/13/28		3,635,000		3,652,113
Cardinal Health, Inc.
3.079% due 06/15/24		1,285,000		1,256,427
3.500% due 11/15/24		2,100,000		2,048,943
Coca-Cola Europacific Partners PLC (United Kingdom) 0.800% due 05/03/24 ~		4,235,000		4,040,983
CSL Finance PLC (Australia) 3.850% due 04/27/27 ~		755,000		736,528
CVS Health Corp.
2.875% due 06/01/26		1,100,000		1,045,841
3.000% due 08/15/26		1,060,000		1,012,029
5.000% due 02/20/26		2,440,000		2,468,658
Diageo Capital PLC (United Kingdom)
1.375% due 09/29/25		1,300,000		1,201,942
5.200% due 10/24/25		1,600,000		1,622,145
Elevance Health, Inc.
2.375% due 01/15/25		780,000		747,057
5.350% due 10/15/25		805,000		812,549
HCA, Inc.
3.125% due 03/15/27 ~		2,555,000		2,376,932
5.375% due 02/01/25		1,065,000		1,066,132
Health Care Service Corp. A Mutual Legal Reserve Co. 1.500% due 06/01/25 ~		3,795,000		3,538,050
HPHT Finance 19 Ltd. (Hong Kong) 2.875% due 11/05/24 ~		1,880,000		1,819,014
HPHT Finance 21 II Ltd. (Hong Kong) 1.500% due 09/17/26 ~		3,450,000		3,087,060
Humana, Inc.
0.650% due 08/03/23		1,140,000		1,123,981
1.350% due 02/03/27		1,250,000		1,098,435
3.850% due 10/01/24		2,120,000		2,085,032
4.500% due 04/01/25		2,015,000		1,998,364
5.750% due 03/01/28		725,000		753,500
Imperial Brands Finance PLC (United Kingdom)
3.125% due 07/26/24 ~		5,615,000		5,441,677
4.250% due 07/21/25 ~		1,315,000		1,274,094
JDE Peet’s NV (Netherlands) 0.800% due 09/24/24 ~		1,510,000		1,407,917
Kenvue, Inc.
5.350% due 03/22/26 ~		1,075,000		1,103,588
5.500% due 03/22/25 ~		2,050,000		2,084,828
Mondelez International Holdings Netherlands BV 4.250% due 09/15/25 ~		1,410,000		1,396,436
Mondelez International, Inc. 2.625% due 03/17/27		1,895,000		1,772,780
Moody’s Corp. 3.750% due 03/24/25		2,285,000		2,239,844

	Principal Amount		Value
Nestle Holdings, Inc. 5.250% due 03/13/26 ~		$ 2,925,000		$ 3,003,497
PeaceHealth Obligated Group 1.375% due 11/15/25		455,000		414,392
PerkinElmer, Inc.
0.550% due 09/15/23		1,385,000		1,357,067
0.850% due 09/15/24		2,640,000		2,479,666
Perrigo Finance Unlimited Co. 3.900% due 12/15/24		5,480,000		5,372,784
Philip Morris International, Inc.
5.000% due 11/17/25		1,305,000		1,315,842
5.125% due 11/15/24		1,775,000		1,787,294
Royalty Pharma PLC 0.750% due 09/02/23		1,865,000		1,818,788
S&P Global, Inc. 2.450% due 03/01/27		4,790,000		4,495,314
Shire Acquisitions Investments Ireland DAC 2.875% due 09/23/23		930,000		918,778
Triton Container International Ltd. (Bermuda) 0.800% due 08/01/23 ~		2,770,000		2,706,979
UnitedHealth Group, Inc.
3.700% due 05/15/27		2,755,000		2,697,206
4.250% due 01/15/29		3,265,000		3,242,748
5.150% due 10/15/25		2,305,000		2,350,007
5.250% due 02/15/28		1,750,000		1,821,059
Viatris, Inc. 1.650% due 06/22/25		1,410,000		1,293,836
Zoetis, Inc. 5.400% due 11/14/25		2,075,000		2,111,133
				131,677,799
Energy - 3.0%
Aker BP ASA (Norway)
2.000% due 07/15/26 ~		970,000		873,247
3.000% due 01/15/25 ~		3,315,000		3,195,578
Canadian Natural Resources Ltd. (Canada) 2.050% due 07/15/25		3,845,000		3,594,769
Cheniere Corpus Christi Holdings LLC 5.875% due 03/31/25		3,835,000		3,864,193
Devon Energy Corp. 8.250% due 08/01/23		1,005,000		1,009,335
Enbridge, Inc. (Canada)
2.150% due 02/16/24		2,350,000		2,281,885
2.500% due 01/15/25		3,255,000		3,120,323
2.500% due 02/14/25		1,580,000		1,513,891
Energy Transfer LP
2.900% due 05/15/25		640,000		610,240
4.200% due 09/15/23		510,000		508,210
4.250% due 04/01/24		135,000		133,311
4.900% due 02/01/24		1,835,000		1,824,297
5.875% due 01/15/24		4,465,000		4,464,419
Eni SpA (Italy) 4.000% due 09/12/23 ~		3,395,000		3,367,733
Gray Oak Pipeline LLC
2.000% due 09/15/23 ~		455,000		447,423
2.600% due 10/15/25 ~		1,060,000		983,327
Pioneer Natural Resources Co.
0.550% due 05/15/23		1,280,000		1,272,916
5.100% due 03/29/26		1,505,000		1,512,042
Sabine Pass Liquefaction LLC
5.625% due 03/01/25		2,935,000		2,954,814
5.750% due 05/15/24		2,633,000		2,639,961
Schlumberger Finance Canada Ltd. 1.400% due 09/17/25		680,000		628,905
Targa Resources Corp. 5.200% due 07/01/27		1,448,000		1,436,913
TransCanada PipeLines Ltd. (Canada) 6.203% due 03/09/26		4,375,000		4,406,705
Williams Cos., Inc.
4.300% due 03/04/24		565,000		559,353
5.400% due 03/02/26		1,465,000		1,493,374
				48,697,164

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

69

PACIFIC SELECT FUND

SHORT DURATION BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Financial - 17.6%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
1.650% due 10/29/24		$5,325,000		$4,984,764
4.500% due 09/15/23		2,095,000		2,075,456
4.875% due 01/16/24		2,405,000		2,378,668
American Express Co.
2.250% due 03/04/25		4,055,000		3,865,085
4.900% due 02/13/26		1,400,000		1,414,023
American International Group, Inc. 2.500% due 06/30/25		2,210,000		2,091,979
American Tower Corp. 2.400% due 03/15/25		1,730,000		1,644,169
Athene Global Funding
1.716% due 01/07/25 ~		4,235,000		3,939,606
2.514% due 03/08/24 ~		5,235,000		5,052,616
Avolon Holdings Funding Ltd. (Ireland)
2.125% due 02/21/26 ~		2,935,000		2,611,558
2.875% due 02/15/25 ~		2,400,000		2,253,805
3.950% due 07/01/24 ~		810,000		788,627
5.125% due 10/01/23 ~		1,890,000		1,873,149
Banco Bilbao Vizcaya Argentaria SA (Spain) 0.875% due 09/18/23		4,200,000		4,105,425
Banco del Estado de Chile (Chile) 2.704% due 01/09/25 ~		1,010,000		960,535
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand (Mexico) 5.375% due 04/17/25 ~		3,955,000		3,936,214
Banco Santander SA (Spain)
0.701% due 06/30/24		600,000		591,330
3.496% due 03/24/25		2,600,000		2,502,950
Bank of America Corp.
0.976% due 04/22/25		3,175,000		3,026,375
1.734% due 07/22/27		2,350,000		2,109,197
1.843% due 02/04/25		2,080,000		2,018,825
3.384% due 04/02/26		2,705,000		2,595,384
3.841% due 04/25/25		1,760,000		1,728,567
5.080% due 01/20/27		1,450,000		1,446,576
Bank of Ireland Group PLC (Ireland) 4.500% due 11/25/23 ~		5,470,000		5,401,783
Bank of Montreal (Canada)
3.700% due 06/07/25		3,475,000		3,377,576
4.250% due 09/14/24		1,715,000		1,694,710
Bank of New York Mellon Corp. 4.414% due 07/24/26		2,290,000		2,260,758
Banque Federative du Credit Mutuel SA (France)
0.650% due 02/27/24 ~		2,045,000		1,959,353
0.998% due 02/04/25 ~		2,850,000		2,637,522
4.935% due 01/26/26 ~		1,590,000		1,572,587
Barclays PLC (United Kingdom)
1.007% due 12/10/24		2,235,000		2,154,343
4.338% due 05/16/24		1,780,000		1,775,779
5.304% due 08/09/26		1,405,000		1,377,299
7.325% due 11/02/26		1,470,000		1,506,804
BPCE SA (France) 5.700% due 10/22/23 ~		5,665,000		5,622,613
Brighthouse Financial Global Funding
0.600% due 06/28/23 ~		1,780,000		1,758,635
1.000% due 04/12/24 ~		2,535,000		2,422,559
Brixmor Operating Partnership LP 3.650% due 06/15/24		3,295,000		3,192,504
CaixaBank SA (Spain) 6.208% due 01/18/29 ~		1,770,000		1,782,450
Capital One Financial Corp.
2.636% due 03/03/26		2,575,000		2,387,635
3.500% due 06/15/23		965,000		960,261
3.900% due 01/29/24		1,290,000		1,267,669
4.250% due 04/30/25		515,000		491,502

	Principal Amount		Value
4.985% due 07/24/26	$	2,180,000	$	2,103,199
Charles Schwab Corp. 2.450% due 03/03/27		3,705,000		3,324,712
Citigroup, Inc.
0.981% due 05/01/25		2,600,000		2,471,264
3.106% due 04/08/26		1,845,000		1,765,138
4.140% due 05/24/25		2,580,000		2,535,382
CNO Global Funding
1.650% due 01/06/25 ~		2,330,000		2,182,008
1.750% due 10/07/26 ~		2,970,000		2,664,803
Commonwealth Bank of Australia (Australia) 5.316% due 03/13/26		5,705,000		5,805,325
Corebridge Financial, Inc. 3.500% due 04/04/25 ~		1,970,000		1,893,936
Credicorp Ltd. (Peru) 2.750% due 06/17/25 ~		665,000		620,880
Credit Suisse AG (Switzerland) 0.495% due 02/02/24		1,930,000		1,822,017
Crown Castle International Corp. REIT
1.050% due 07/15/26		2,400,000		2,116,156
2.900% due 03/15/27		1,635,000		1,518,581
3.150% due 07/15/23		1,140,000		1,133,054
Crown Castle, Inc. 5.000% due 01/11/28		555,000		559,711
Danske Bank AS (Denmark)
1.226% due 06/22/24 ~		3,715,000		3,668,372
3.773% due 03/28/25 ~		1,735,000		1,694,187
5.375% due 01/12/24 ~		1,630,000		1,615,385
Equitable Financial Life Global Funding 1.100% due 11/12/24 ~		2,420,000		2,286,907
Essex Portfolio LP REIT 3.875% due 05/01/24		1,500,000		1,479,858
Fifth Third Bank NA 5.852% due 10/27/25		3,390,000		3,343,811
First American Financial Corp. 4.600% due 11/15/24		615,000		606,360
Goldman Sachs Group, Inc.
0.657% due 09/10/24		2,430,000		2,375,537
0.925% due 10/21/24		1,590,000		1,547,471
1.757% due 01/24/25		2,490,000		2,410,824
3.500% due 04/01/25		2,620,000		2,545,483
4.482% due 08/23/28		1,945,000		1,903,892
HSBC Holdings PLC (United Kingdom)
1.162% due 11/22/24		1,485,000		1,441,470
1.645% due 04/18/26		2,375,000		2,170,703
2.099% due 06/04/26		1,585,000		1,456,711
Jackson Financial, Inc. 1.125% due 11/22/23		2,155,000		2,091,097
Jackson National Life Global Funding 1.750% due 01/12/25 ~		2,835,000		2,656,777
JPMorgan Chase & Co.
0.824% due 06/01/25		2,830,000		2,683,245
2.083% due 04/22/26		4,500,000		4,213,133
4.080% due 04/26/26		2,570,000		2,524,688
5.506% (SOFR + 0.885%) due 04/22/27 §		1,950,000		1,924,856
LeasePlan Corp. NV (Netherlands) 2.875% due 10/24/24 ~		2,985,000		2,837,669
Lloyds Banking Group PLC (United Kingdom) 4.500% due 11/04/24		1,625,000		1,575,912
LSEGA Financing PLC (United Kingdom)
0.650% due 04/06/24 ~		2,875,000		2,737,168
2.000% due 04/06/28 ~		920,000		790,408
Marsh & McLennan Cos., Inc.
3.750% due 03/14/26		435,000		425,843
3.875% due 03/15/24		1,815,000		1,789,919
Mitsubishi UFJ Financial Group, Inc. (Japan)
0.953% due 07/19/25		4,750,000		4,475,066
5.063% due 09/12/25		1,140,000		1,132,837
5.719% due 02/20/26		2,510,000		2,518,199

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

70

PACIFIC SELECT FUND

SHORT DURATION BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Morgan Stanley
0.731% due 04/05/24		$2,085,000		$2,084,398
1.164% due 10/21/25		2,150,000		2,009,155
2.630% due 02/18/26		2,470,000		2,346,115
3.620% due 04/17/25		2,660,000		2,612,610
5.050% due 01/28/27		670,000		668,658
5.108% (SOFR + 0.455%) due 01/25/24 §		1,745,000		1,740,112
NatWest Markets PLC (United Kingdom)
0.800% due 08/12/24 ~		1,055,000		987,763
2.375% due 05/21/23 ~		2,970,000		2,954,479
3.479% due 03/22/25 ~		875,000		836,731
Northern Trust Corp. 3.950% due 10/30/25		1,405,000		1,346,356
Northwestern Mutual Global Funding 4.350% due 09/15/27 ~		2,040,000		2,022,992
Park Aerospace Holdings Ltd. (Ireland) 5.500% due 02/15/24 ~		505,000		500,509
PNC Financial Services Group, Inc.
4.758% due 01/26/27		1,280,000		1,265,117
5.671% due 10/28/25		2,170,000		2,172,694
Principal Life Global Funding II 0.750% due 04/12/24 ~		1,230,000		1,176,189
Public Storage REIT 5.091% (SOFR + 0.470%) due 04/23/24 §		1,045,000		1,040,259
QNB Finance Ltd. (Qatar)
2.625% due 05/12/25 ~		4,330,000		4,123,840
3.500% due 03/28/24 ~		2,320,000		2,282,555
Realty Income Corp. 5.050% due 01/13/26		625,000		623,209
Santander Holdings USA, Inc. 2.490% due 01/06/28		1,730,000		1,497,748
SBA Tower Trust REIT
1.631% due 05/15/51 ~		1,045,000		916,524
1.884% due 07/15/50 ~		725,000		655,785
2.836% due 01/15/50 ~		2,045,000		1,938,706
6.599% due 01/15/28 ~		990,000		1,046,676
Simon Property Group LP REIT
2.000% due 09/13/24		1,099,000		1,050,135
3.375% due 10/01/24		2,250,000		2,198,306
Societe Generale SA (France) 2.625% due 10/16/24 ~		335,000		316,776
Standard Chartered PLC (United Kingdom)
0.991% due 01/12/25 ~		1,100,000		1,058,170
1.822% due 11/23/25 ~		1,325,000		1,233,667
State Street Corp. 4.857% due 01/26/26		1,090,000		1,083,233
Svenska Handelsbanken AB (Sweden)
0.550% due 06/11/24 ~		1,520,000		1,439,345
1.418% due 06/11/27 ~		2,165,000		1,922,289
Swedbank AB (Sweden) 1.300% due 06/02/23 ~		2,205,000		2,187,152
Synchrony Financial 4.250% due 08/15/24		4,015,000		3,797,623
Toronto-Dominion Bank (Canada) 0.700% due 09/10/24		2,920,000		2,746,816
Truist Financial Corp. 5.202% (SOFR + 0.400%) due 06/09/25 §		1,495,000		1,432,007
UBS Group AG (Switzerland)
1.008% due 07/30/24 ~		3,455,000		3,386,813
1.494% due 08/10/27 ~		1,025,000		883,720
4.488% due 05/12/26 ~		810,000		781,852
4.490% due 08/05/25 ~		2,225,000		2,171,895
US Bancorp
4.548% due 07/22/28		2,510,000		2,447,909
5.727% due 10/21/26		1,215,000		1,221,393
Wells Fargo & Co.
1.654% due 06/02/24		1,780,000		1,768,675
2.188% due 04/30/26		1,825,000		1,711,595
3.526% due 03/24/28		1,495,000		1,411,835
3.908% due 04/25/26		2,260,000		2,195,257
4.540% due 08/15/26		2,065,000		2,028,851

	Principal Amount		Value
Western Union Co. 2.850% due 01/10/25		$ 4,945,000		$ 4,722,545
				287,086,218
Industrial - 1.9%
Amcor Flexibles North America, Inc. 4.000% due 05/17/25		1,820,000		1,783,378
Amphenol Corp.
2.050% due 03/01/25		2,380,000		2,267,534
4.750% due 03/30/26		875,000		879,038
Canadian Pacific Railway Co. (Canada)
1.350% due 12/02/24		3,510,000		3,308,496
1.750% due 12/02/26		1,100,000		997,730
Carrier Global Corp. 2.242% due 02/15/25		649,000		619,588
DAE Funding LLC (United Arab Emirates) 1.550% due 08/01/24 ~		990,000		931,624
GATX Corp.
3.250% due 03/30/25		2,258,000		2,162,830
4.350% due 02/15/24		1,905,000		1,882,089
Kansas City Southern 3.000% due 05/15/23		1,940,000		1,932,875
Martin Marietta Materials, Inc. 0.650% due 07/15/23		855,000		842,683
Otis Worldwide Corp. 2.056% due 04/05/25		2,670,000		2,521,481
Parker-Hannifin Corp. 3.650% due 06/15/24		2,800,000		2,758,794
Penske Truck Leasing Co. Lp/PTL Finance Corp. 3.450% due 07/01/24 ~		1,553,000		1,512,493
Regal Rexnord Corp. 6.050% due 02/15/26 ~		1,605,000		1,613,700
Republic Services, Inc.
2.500% due 08/15/24		1,725,000		1,671,615
4.875% due 04/01/29		715,000		723,213
SMBC Aviation Capital Finance DAC (Ireland)
3.550% due 04/15/24 ~		1,645,000		1,605,761
4.125% due 07/15/23 ~		766,000		761,007
				30,775,929
Technology - 2.2%
CDW LLC/CDW Finance Corp. 5.500% due 12/01/24		655,000		654,892
Fidelity National Information Services, Inc.
0.600% due 03/01/24		1,225,000		1,171,852
4.500% due 07/15/25		1,355,000		1,340,681
Fiserv, Inc.
2.750% due 07/01/24		4,595,000		4,459,703
3.800% due 10/01/23		1,070,000		1,060,214
Fortinet, Inc. 1.000% due 03/15/26		1,890,000		1,697,405
Intel Corp. 4.875% due 02/10/26		1,660,000		1,681,869
Marvell Technology, Inc. 4.200% due 06/22/23		2,070,000		2,061,320
Microchip Technology, Inc.
0.972% due 02/15/24		2,770,000		2,659,946
0.983% due 09/01/24		2,900,000		2,738,474
2.670% due 09/01/23		2,125,000		2,095,483
NXP BV/NXP Funding LLC/NXP USA, Inc. (China)
2.700% due 05/01/25		2,030,000		1,927,675
3.875% due 06/18/26		1,455,000		1,405,961
4.400% due 06/01/27		355,000		350,895
4.875% due 03/01/24		1,605,000		1,593,486
Oracle Corp. 5.800% due 11/10/25		1,425,000		1,461,233
Qorvo, Inc. 1.750% due 12/15/24 ~		1,160,000		1,078,023

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

71

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Roper Technologies, Inc.
1.000% due 09/15/25		$ 510,000		$ 466,625
2.350% due 09/15/24		670,000		645,289
Skyworks Solutions, Inc. 0.900% due 06/01/23		650,000		644,571
Take-Two Interactive Software, Inc.
3.300% due 03/28/24		2,090,000		2,044,855
3.550% due 04/14/25		535,000		521,316
VMware, Inc. 0.600% due 08/15/23		1,375,000		1,349,285
Workday, Inc. 3.500% due 04/01/27		1,230,000		1,177,649
				36,288,702
Utilities - 3.0%
AES Corp. 3.300% due 07/15/25 ~		1,865,000		1,770,648
Alexander Funding Trust 1.841% due 11/15/23 ~		1,885,000		1,828,999
APA Infrastructure Ltd. (Australia) 4.200% due 03/23/25 ~		5,205,000		5,101,301
Constellation Energy Generation LLC 5.600% due 03/01/28		1,350,000		1,390,555
DTE Energy Co. 4.220% due 11/01/24		2,460,000		2,433,864
Enel Finance International NV (Italy)
1.375% due 07/12/26 ~		3,230,000		2,878,677
2.650% due 09/10/24 ~		4,020,000		3,882,373
6.800% due 10/14/25 ~		500,000		517,197
Israel Electric Corp. Ltd. (Israel)
5.000% due 11/12/24 ~		3,600,000		3,556,839
6.875% due 06/21/23 ~		565,000		565,927
NextEra Energy Capital Holdings, Inc.
1.875% due 01/15/27		2,360,000		2,135,553
4.450% due 06/20/25		1,695,000		1,684,587
6.051% due 03/01/25		770,000		783,722
NiSource, Inc. 5.250% due 03/30/28		535,000		544,647
NRG Energy, Inc. 3.750% due 06/15/24 ~		1,125,000		1,091,882
Pacific Gas and Electric Co. 3.500% due 06/15/25		2,010,000		1,917,906
Sempra Energy 3.300% due 04/01/25		1,775,000		1,719,019
Southern California Gas Co. 2.950% due 04/15/27		1,395,000		1,307,977
Southern Co. 3.250% due 07/01/26		1,420,000		1,355,113
Tenaga Nasional Bhd (Malaysia) 7.500% due 11/01/25 ~		1,200,000		1,262,263
Vistra Operations Co. LLC
3.550% due 07/15/24 ~		9,955,000		9,616,584
5.125% due 05/13/25 ~		2,485,000		2,424,628
				49,770,261
Total Corporate Bonds & Notes (Cost $753,413,493)				732,129,534
MORTGAGE-BACKED SECURITIES - 13.3%
Collateralized Mortgage Obligations - Commercial - 4.0%
280 Park Avenue Mortgage Trust 5.599% (USD LIBOR + 0.880%) due 09/15/34 § ~		1,640,000		1,593,262
BAMLL Commercial Mortgage Securities Trust
3.490% due 04/14/33 ~		1,775,000		1,625,408
5.535% (USD LIBOR + 0.850%) due 09/15/34 § ~		4,770,000		4,665,791
6.684% (USD LIBOR + 2.000%) due 09/15/38 § ~		1,570,000		1,422,426

	Principal Amount		Value
Bank
2.056% due 11/15/62		$252,068		$245,674
2.263% due 08/15/61		395,571		374,274
BCP Trust 5.483% (USD LIBOR + 0.799%) due 06/15/38 § ~		1,045,000		964,883
BIG Commercial Mortgage Trust 7.168% (SOFR + 2.340%) due 02/15/39 § ~		755,000		713,335
BPR Trust 5.834% (USD LIBOR + 1.150%) due 09/15/38 § ~		1,585,000		1,488,502
BSREP Commercial Mortgage Trust 6.585% (USD LIBOR + 1.900%) due 08/15/38 § ~		700,000		598,435
BX Commercial Mortgage Trust
5.964% (USD LIBOR + 1.280%) due 06/15/36 § ~		935,000		887,745
6.022% (SOFR + 1.194%) due 10/15/36 § ~		1,249,500		1,227,342
6.085% (USD LIBOR + 1.400%) due 06/15/38 § ~		1,372,871		1,290,840
7.968% (SOFR + 3.141%) due 06/15/27 § ~		1,815,000		1,779,706
CGDB Commercial Mortgage Trust 6.334% (USD LIBOR + 1.650%) due 11/15/36 § ~		2,615,000		2,453,349
Cold Storage Trust 5.984% (USD LIBOR + 1.300%) due 11/15/37 § ~		1,484,316		1,441,756
Commercial Mortgage Trust
3.838% due 09/10/47		2,825,000		2,735,505
3.926% due 03/10/48 §		845,000		793,567
4.070% due 03/10/48 §		1,770,000		1,607,642
4.080% due 08/10/47		1,760,000		1,693,725
4.353% due 08/10/30 ~		1,180,000		1,136,930
4.622% due 02/10/47 §		1,715,000		1,665,483
4.698% due 08/10/47 § ~		710,000		614,848
Credit Suisse Mortgage Capital Certificates
6.114% (USD LIBOR + 1.430%) due 05/15/36 § ~		2,134,689		2,098,562
6.284% (USD LIBOR + 1.600%) due 05/15/36 § ~		1,571,091		1,536,790
CSAIL Commercial Mortgage Trust 2.360% due 06/15/52		391,596		381,343
Extended Stay America Trust
5.765% (USD LIBOR + 1.080%) due 07/15/38 § ~		751,668		729,709
6.385% (USD LIBOR + 1.700%) due 07/15/38 § ~		1,679,051		1,629,310
Fontainebleau Miami Beach Trust 3.447% due 12/10/36 ~		1,715,000		1,615,421
GCT Commercial Mortgage Trust 5.484% (USD LIBOR + 0.800%) due 02/15/38 § ~		1,325,000		1,216,920
Great Wolf Trust 6.575% (SOFR + 1.747%) due 12/15/36 § ~		1,055,000		1,025,845
GS Mortgage Securities Corp. Trust 6.285% (USD LIBOR + 1.600%) due 05/15/26 § ~		1,440,000		1,270,371
JP Morgan Chase Commercial Mortgage Securities Trust
6.455% (USD LIBOR + 1.770%) due 10/15/33 § ~		2,345,000		2,062,975
6.534% (USD LIBOR + 1.850%) due 09/15/29 § ~		1,025,000		907,648
6.855% (USD LIBOR + 2.170%) due 10/15/33 § ~		1,890,000		1,581,993
JPMBB Commercial Mortgage Securities Trust 3.934% due 09/15/47		2,420,000		2,354,649

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

72

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
KIND Trust 6.692% (SOFR + 1.864%) due 08/15/38 § ~		$2,050,183		$1,910,379
KKR Industrial Portfolio Trust
5.942% (SOFR + 1.114%) due 12/15/37 § ~		660,000		630,897
6.192% (SOFR + 1.364%) due 12/15/37 § ~		476,250		450,922
Morgan Stanley Bank of America Merrill Lynch Trust 4.110% due 10/15/47 §		775,000		744,527
Morgan Stanley Capital I Trust 6.484% (USD LIBOR + 1.800%) due 12/15/36 § ~		775,000		610,932
New Orleans Hotel Trust 5.973% (USD LIBOR + 1.289%) due 04/15/32 § ~		2,575,999		2,449,471
ONE Mortgage Trust
5.892% (SOFR + 1.064%) due 03/15/36 § ~		2,945,000		2,711,108
6.042% (SOFR + 1.214%) due 03/15/36 § ~		1,580,000		1,450,632
RLGH Trust 5.485% (USD LIBOR + 0.800%) due 04/15/36 § ~		1,370,000		1,322,568
WFRBS Commercial Mortgage Trust 4.045% due 03/15/47		1,465,000		1,438,479
				65,151,879
Collateralized Mortgage Obligations - Residential - 5.9%
Angel Oak Mortgage Trust
0.909% due 01/25/66 § ~		1,237,851		1,037,036
0.985% due 04/25/66 § ~		977,178		821,854
1.068% due 05/25/66 § ~		792,649		655,829
1.579% due 05/25/65 § ~		310,092		281,424
2.872% due 04/25/65 § ~		215,124		199,234
Angel Oak Mortgage Trust I LLC 3.920% due 11/25/48 § ~		3,348		3,338
Barclays Mortgage Loan Trust 1.747% due 09/25/51 § ~		1,953,324		1,698,124
Bayview MSR Opportunity Master Fund Trust (Cayman) 2.500% due 06/25/51 § ~		1,650,758		1,439,371
BINOM Securitization Trust 2.625% due 06/25/56 § ~		653,821		572,754
BRAVO Residential Funding Trust 1.699% due 04/25/60 § ~		1,071,643		967,500
CIM Trust 2.500% due 04/25/50 § ~		1,307,565		1,080,711
CIM TRUST 4.500% due 03/25/62 § ~		2,776,378		2,670,127
COLT Mortgage Loan Trust
1.167% due 06/25/66 § ~		965,601		785,199
1.506% due 04/27/65 § ~		140,959		131,108
Connecticut Avenue Securities Trust
5.560% (SOFR + 1.000%) due 12/25/41 § ~		970,895		959,966
6.560% (SOFR + 2.000%) due 03/25/42 § ~		968,526		969,591
6.660% (SOFR + 2.100%) due 03/25/42 § ~		1,474,211		1,472,167
7.110% (SOFR + 2.550%) due 07/25/42 § ~		656,550		661,153
7.518% (SOFR + 2.950%) due 06/25/42 § ~		1,559,128		1,588,231
Deephaven Residential Mortgage Trust
0.899% due 04/25/66 § ~		401,461		345,162
0.973% due 05/25/65 § ~		230,919		207,365
1.260% due 04/25/66 § ~		439,437		376,194

	Principal Amount		Value
Eagle RE Ltd. (Bermuda) 6.110% (SOFR + 1.550%) due 04/25/34 § ~		$722,146		$720,264
Ellington Financial Mortgage Trust
0.797% due 02/25/66 § ~		277,359		232,761
0.931% due 06/25/66 § ~		590,670		477,579
1.106% due 02/25/66 § ~		238,245		196,738
1.291% due 06/25/66 § ~		569,135		455,450
1.550% due 09/25/66 § ~		565,574		426,757
3.046% due 11/25/59 § ~		206,368		191,606
Fannie Mae 3.000% due 11/25/47		1,897,222		1,770,713
Fannie Mae Connecticut Avenue Securities
6.045% (USD LIBOR + 1.200%) due 01/25/30 §		36,748		36,739
9.295% (USD LIBOR + 4.450%) due 01/25/29 §		623,077		651,475
Federal Home Loan Mortgage Corp. STACR REMIC Trust 6.860% (SOFR + 2.300%) due 08/25/42 § ~		931,203		934,110
Flagstar Mortgage Trust
4.000% due 09/25/48 § ~		185,826		179,951
5.467% (USD LIBOR + 0.850%) due 03/25/50 § ~		400,103		368,195
Freddie Mac
5.860% (SOFR + 1.300%) due 02/25/42 § ~		4,110,535		4,071,159
6.710% (SOFR + 2.150%) due 09/25/42 § ~		616,793		618,636
7.510% (SOFR + 2.950%) due 06/25/42 § ~		1,186,072		1,207,043
Freddie Mac STACR Trust
5.260% (SOFR + 0.700%) due 08/25/33 § ~		13,255		13,252
6.210% (SOFR + 1.650%) due 01/25/34 § ~		720,434		707,368
6.360% (SOFR + 1.800%) due 11/25/41 § ~		1,160,000		1,103,702
6.560% (SOFR + 2.000%) due 04/25/42 § ~		4,104,989		4,106,800
6.660% (SOFR + 2.100%) due 03/25/42 § ~		1,918,450		1,919,102
6.695% (USD LIBOR + 1.850%) due 02/25/50 § ~		1,154,423		1,147,871
6.760% (SOFR + 2.200%) due 05/25/42 § ~		2,222,860		2,233,961
7.000% due 09/15/30		93,845		97,241
7.945% (USD LIBOR + 3.100%) due 03/25/50 § ~		624,103		639,951
Freddie Mac Structured Agency Credit Risk Debt Notes
3.863% due 05/25/47 § ~		175,394		170,628
5.360% (SOFR + 0.800%) due 08/25/33 § ~		44,309		44,257
Galton Funding Mortgage Trust
2.832% due 01/25/60 § ~		1,085,000		807,327
3.339% due 10/25/59 § ~		680,000		614,821
3.500% due 11/25/57 § ~		225,469		205,279
4.000% due 02/25/59 § ~		100,984		95,823
4.500% due 02/25/59 § ~		138,165		133,773
GS Mortgage-Backed Securities Corp. Trust 2.500% due 10/25/51 § ~		2,562,228		2,222,482
GS Mortgage-Backed Securities Trust
2.500% due 06/25/52 § ~		3,239,697		2,810,120
3.207% due 07/25/44 § ~		16,926		16,659
Hundred Acre Wood Trust 2.500% due 07/25/51 § ~		1,662,641		1,456,083
Imperial Fund Mortgage Trust
1.516% due 09/25/56 § ~		935,629		734,067
4.767% due 06/25/67 § ~		1,499,401		1,441,612
JP Morgan Mortgage Trust
3.000% due 10/25/50 § ~		445,039		384,125
3.500% due 08/25/50 § ~		290,457		260,389

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

73

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SHORT DURATION BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Mello Mortgage Capital Acceptance 2.500% due 10/25/51 § ~		$ 1,410,746		$ 1,223,684
MFA Trust 0.852% due 01/25/56 § ~		532,900		472,506
New Residential Mortgage Loan Trust
2.500% due 06/25/51 § ~		1,092,461		950,323
2.500% due 09/25/51 § ~		2,953,416		2,569,154
NLT Trust 1.520% due 08/25/56 § ~		812,942		647,227
OBX Trust
1.054% due 07/25/61 § ~		380,150		290,946
2.500% due 05/25/51 § ~		1,891,568		1,640,750
3.000% due 01/25/60 § ~		541,655		469,504
3.000% due 05/25/60 § ~		1,056,894		912,963
3.500% due 12/25/49 § ~		167,741		149,878
3.500% due 02/25/60 § ~		599,301		535,402
5.456% (USD LIBOR + 1.200%) due 06/25/59 § ~		126,849		121,174
5.595% (USD LIBOR + 0.750%) due 02/25/60 § ~		331,871		307,697
5.745% (USD LIBOR + 0.900%) due 10/25/59 § ~		106,961		103,762
5.795% (USD LIBOR + 0.950%) due 02/25/60 § ~		542,676		506,499
Oceanview Mortgage Trust 2.500% due 12/25/51 § ~		1,521,659		1,319,890
PSMC Trust
2.500% due 03/25/51 § ~		2,697,685		2,365,271
2.500% due 05/25/51 § ~		1,199,611		1,043,532
Sequoia Mortgage Trust
4.000% due 06/25/48 § ~		236,507		222,626
4.000% due 08/25/48 § ~		66,416		64,605
4.000% due 10/25/48 § ~		5,920		5,862
4.500% due 08/25/48 § ~		16,395		16,012
SG Residential Mortgage Trust
1.381% due 05/25/65 § ~		397,354		344,530
3.166% due 03/27/62 § ~		1,964,388		1,773,180
Starwood Mortgage Residential Trust
0.943% due 05/25/65 § ~		883,966		792,678
1.162% due 08/25/56 § ~		2,320,723		1,926,880
2.408% due 02/25/50 § ~		722,245		688,623
2.916% due 09/27/49 § ~		665,197		633,699
Towd Point Mortgage Trust
3.250% due 07/25/58 § ~		729,245		702,932
3.750% due 03/25/58 § ~		839,845		800,517
3.750% due 05/25/58 § ~		1,568,816		1,503,624
3.750% due 09/25/62 ~		2,866,795		2,692,813
TRK Trust 1.409% due 07/25/56 § ~		433,600		371,042
UWM Mortgage Trust 2.500% due 09/25/51 § ~		541,907		470,052
Verus Securitization Trust
0.918% due 02/25/64 § ~		708,408		609,060
1.031% due 02/25/66 § ~		655,598		559,058
1.052% due 01/25/66 § ~		521,915		433,085
1.155% due 01/25/66 § ~		310,759		254,605
1.373% due 09/25/66 § ~		785,042		618,667
1.829% due 10/25/66 § ~		2,921,762		2,488,271
1.977% due 03/25/60 § ~		61,732		60,286
2.226% due 05/25/60 § ~		445,149		429,093
2.913% due 07/25/59 § ~		388,274		376,205
3.117% due 07/25/59 § ~		517,100		501,031
3.288% due 01/25/67 § ~		3,148,438		2,661,406
Vista Point Securitization Trust 2.496% due 04/25/65 § ~		225,974		199,972
Wells Fargo Mortgage-Backed Securities Trust
2.500% due 12/25/50 § ~		2,230,332		1,955,694
2.500% due 09/25/51 § ~		1,723,460		1,494,932
				96,110,509

	Principal Amount		Value
Fannie Mae - 1.7%
2.000% due 10/01/50		$ 676,114		$ 562,275
2.500% due 01/01/52		1,579,327		1,365,088
3.000% due 09/01/28 - 06/01/52		5,468,292		5,038,473
3.096% (UST + 2.258%) due 06/01/35 §		65,649		64,548
3.500% due 01/01/44 - 01/01/52		1,548,161		1,459,855
3.851% (UST + 2.259%) due 06/01/33 §		236,841		242,841
3.983% (USD LIBOR + 1.502%) due 02/01/33 §		18,343		17,964
4.000% due 03/01/41 - 09/01/52		3,272,306		3,137,752
4.230% (USD LIBOR + 1.605%) due 04/01/33 §		17,362		16,989
4.398% (UST + 2.215%) due 02/01/33 §		35,745		34,918
4.500% due 05/01/41 - 08/01/52		8,415,277		8,293,603
4.912% (USD LIBOR + 1.543%) due 01/01/35 §		2,248		2,268
5.000% due 07/01/24 - 02/01/49		1,350,083		1,378,354
5.500% due 01/01/36 - 02/01/49		2,623,410		2,724,523
6.000% due 03/01/37 - 02/01/49		2,567,821		2,695,450
6.500% due 05/01/33		251,364		262,022
7.000% due 06/01/33		123,923		127,374
				27,424,297
Freddie Mac - 0.5%
2.500% due 01/01/52		1,630,930		1,417,137
3.500% due 02/01/52		2,668,150		2,492,101
3.900% (UST + 2.250%) due 08/01/35 §		145,825		148,610
4.000% due 12/01/49 - 09/01/52		1,231,416		1,182,352
4.076% (UST + 1.951%) due 02/01/35 §		54,278		52,921
4.269% (UST + 2.179%) due 09/01/35 §		87,618		87,591
4.500% due 09/01/37 - 05/01/50		782,157		779,878
5.000% due 12/01/41 - 03/01/50		2,109,674		2,136,853
5.500% due 07/01/38 - 06/01/41		262,375		272,938
7.000% due 03/01/39		170,620		179,261
7.500% due 06/01/38		154,789		161,928
				8,911,570
Government National Mortgage Association - 1.2%
2.625% (UST + 1.500%) due 09/20/34 - 01/20/35 §		694,390		685,890
3.000% due 09/20/47		3,607,070		3,330,105
3.500% due 10/20/52 - 12/20/52		4,551,295		4,270,325
4.000% due 10/20/50 - 10/20/52		3,008,759		2,904,634
4.500% due 08/20/47 - 10/20/52		3,991,293		3,938,557
5.000% due 12/20/34 - 05/20/48		1,352,887		1,382,535
5.500% due 09/15/45 - 02/20/49		1,210,977		1,261,444
due 04/20/53 #		1,975,000		1,997,489
6.000% due 07/15/36		172,994		182,242
				19,953,221
Total Mortgage-Backed Securities (Cost $234,866,368)				217,551,476
ASSET-BACKED SECURITIES - 12.1%
AmeriCredit Automobile Receivables Trust
0.890% due 10/19/26		1,665,000		1,552,837
0.970% due 02/18/26		743,490		732,085
1.060% due 08/18/26		980,000		919,764
1.210% due 12/18/26		1,030,000		938,254
1.290% due 06/18/27		2,095,000		1,889,720
1.590% due 10/20/25		1,215,000		1,184,514
1.800% due 12/18/25		1,175,000		1,121,112
2.770% due 04/19/27		4,310,000		4,097,795
4.810% due 04/18/28		4,195,000		4,173,536
5.800% due 12/18/28		1,150,000		1,172,453

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

74

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Amur Equipment Finance Receivables X LLC 1.640% due 10/20/27 ~		$ 673,762		$ 645,303
ARI Fleet Lease Trust 5.410% due 02/17/32 ~		4,110,000		4,109,878
Avis Budget Rental Car Funding AESOP LLC
2.330% due 08/20/26 ~		930,000		874,191
3.350% due 09/22/25 ~		1,355,000		1,318,958
4.950% due 03/20/25 ~		745,000		729,941
Blackbird Capital Aircraft Lease Securitization Ltd. 2.487% due 12/16/41 § ~		612,091		586,416
BRE Grand Islander Timeshare Issuer LLC 3.280% due 09/26/33 ~		287,443		274,025
CarMax Auto Owner Trust
1.090% due 03/16/26		2,730,000		2,588,441
3.010% due 12/16/24		3,280,000		3,265,895
CBAM Ltd. (Cayman) 6.072% (USD LIBOR + 1.280%) due 02/12/30 § ~		5,239,416		5,215,920
Cedar Funding XIV CLO Ltd. (Cayman) 5.892% (USD LIBOR + 1.100%) due 07/15/33 § ~		2,230,000		2,201,904
CIFC Funding Ltd. (Cayman) 5.866% (USD LIBOR + 1.050%) due 04/24/30 § ~		3,721,371		3,692,732
CNH Equipment Trust
1.510% due 04/15/27		1,125,000		1,090,707
2.010% due 12/16/24		385,200		383,063
Drive Auto Receivables Trust 1.390% due 03/15/29		1,070,000		996,818
Dryden 86 CLO Ltd. (Cayman) 5.892% (USD LIBOR + 1.100%) due 07/17/34 § ~		2,225,000		2,162,190
Elara HGV Timeshare Issuer LLC
2.690% due 03/25/30 ~		231,828		223,525
2.730% due 04/25/28 ~		422,021		421,098
Exeter Automobile Receivables Trust
2.560% due 06/15/28		405,000		389,233
3.020% due 06/15/28		995,000		921,720
3.850% due 07/17/28		2,130,000		2,070,120
5.700% due 08/17/26		305,000		305,258
5.980% due 12/15/28		945,000		935,728
6.320% due 05/15/28		715,000		728,137
6.510% due 12/15/27		2,940,000		2,989,079
6.690% due 06/15/29		245,000		247,421
Finance of America HECM Buyout
4.000% due 08/01/32 § ~		2,718,355		2,637,788
FirstKey Homes Trust
1.339% due 08/17/37 ~		2,941,434		2,693,864
1.968% due 10/19/37 ~		2,580,000		2,319,104
2.241% due 08/17/37 ~		3,355,000		3,056,613
Ford Credit Auto Lease Trust
4.180% due 10/15/25		3,385,000		3,317,942
5.540% due 12/15/26		1,060,000		1,048,747
Ford Credit Auto Owner Trust
1.740% due 04/15/33 ~		1,355,000		1,231,937
3.520% due 07/15/30 ~		4,155,000		4,096,254
5.070% due 01/15/29		3,820,000		3,814,174
Ford Credit Floorplan Master Owner Trust Class C 1.420% due 09/15/25		1,885,000		1,842,210
GM Financial Automobile Leasing Trust
5.130% due 08/20/26		2,425,000		2,409,741
5.760% due 01/20/27		2,920,000		2,923,299
GM Financial Consumer Automobile Receivables Trust
1.050% due 05/18/26		1,005,000		940,631
1.490% due 12/16/24		115,004		114,008
5.030% due 09/18/28		520,000		521,376

	Principal Amount		Value
GMF Floorplan Owner Revolving Trust 1.030% due 08/15/25 ~		$ 830,000		$ 815,209
Hilton Grand Vacations Trust
2.660% due 12/26/28 ~		183,002		181,309
2.740% due 02/25/39 ~		691,185		652,217
2.960% due 12/26/28 ~		51,009		50,323
HPEFS Equipment Trust
5.910% due 04/20/28		1,495,000		1,495,300
6.130% due 08/20/29		3,555,000		3,596,758
Hyundai Auto Receivables Trust
1.410% due 11/15/24		357,037		353,631
1.600% due 12/15/26		1,360,000		1,293,833
2.940% due 05/15/25		159,707		159,545
KKR CLO 29 Ltd. (Cayman) 5.992% (USD LIBOR + 1.200%) due 01/15/32 § ~		2,500,000		2,479,811
Kubota Credit Owner Trust 1.960% due 03/15/24 ~		136,024		135,585
Madison Park Funding XXIII Ltd. (Cayman)
5.785% (USD LIBOR + 0.970%) due 07/27/31 § ~		2,580,346		2,557,380
6.365% (USD LIBOR + 1.550%) due 07/27/31 § ~		1,675,000		1,650,311
Madison Park Funding XXXIII Ltd. (Cayman) 5.948% (SOFR + 1.290%) due 10/15/32 § ~		3,565,000		3,502,587
Magnetite XXV Ltd. (Cayman) 6.018% (USD LIBOR + 1.200%) due 01/25/32 § ~		670,000		661,655
MMAF Equipment Finance LLC 5.610% due 07/10/28 ~		4,025,000		4,096,106
MVW LLC 2.730% due 10/20/37 ~		261,051		241,987
MVW Owner Trust
2.420% due 12/20/34 ~		106,095		104,521
2.750% due 12/20/34 ~		36,130		35,312
2.890% due 11/20/36 ~		795,848		754,405
2.990% due 12/20/34 ~		97,493		93,555
Navient Private Education Refi Loan Trust
1.170% due 09/16/69 ~		498,080		445,719
1.220% due 07/15/69 ~		415,560		371,694
1.310% due 01/15/69 ~		243,027		223,124
1.690% due 05/15/69 ~		748,246		682,318
2.150% due 11/15/68 ~		3,826,316		3,478,418
2.230% due 07/15/70 ~		2,865,307		2,576,655
2.400% due 10/15/68 ~		586,926		546,695
2.460% due 11/15/68 ~		1,046,016		977,128
2.640% due 05/15/68 ~		1,134,478		1,070,614
3.420% due 01/15/43 ~		1,491,023		1,428,675
Nelnet Student Loan Trust 1.320% due 04/20/62 ~		973,741		876,020
Neuberger Berman Loan Advisers CLO 26 Ltd. (Cayman) 6.195% (USD LIBOR + 1.400%) due 10/18/30 § ~		1,755,000		1,696,175
Neuberger Berman Loan Advisers CLO 32 Ltd. (Cayman) 5.788% (USD LIBOR + 0.990%) due 01/20/32 § ~		3,755,000		3,686,577
Neuberger Berman Loan Advisers CLO 40 Ltd. (Cayman) 5.852% (USD LIBOR + 1.060%) due 04/16/33 § ~		1,085,000		1,069,912
Nissan Auto Receivables Owner Trust 1.380% due 12/16/24		183,138		181,284
OCP CLO Ltd. (Cayman)
5.928% (USD LIBOR + 1.120%) due 07/20/29 § ~		3,731,580		3,698,287
6.342% (USD LIBOR + 1.550%) due 07/15/30 § ~		2,710,000		2,649,242
Octane Receivables Trust
1.210% due 09/20/28 ~		1,112,271		1,068,337
4.900% due 05/22/28 ~		1,290,000		1,262,547
5.870% due 05/21/29 ~		442,904		444,136

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

75

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SHORT DURATION BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Palmer Square CLO Ltd. (Cayman) 5.944% (USD LIBOR + 1.080%) due 11/15/31 § ~		$4,505,000		$4,450,086
Progress Residential Trust
1.495% due 10/17/27 ~		3,232,000		2,935,767
2.078% due 06/17/37 ~		459,432		429,880
4.451% due 07/20/39 ~		1,630,000		1,576,995
Santander Bank Auto Credit-Linked Notes
5.916% due 08/16/32 ~		690,467		687,835
6.024% due 12/15/32 ~		485,168		486,800
6.451% due 12/15/32 ~		2,086,847		2,087,745
Santander Bank NA - SBCLN 1.833% due 12/15/31 ~		243,454		233,784
Santander Consumer Auto Receivables Trust 1.290% due 04/15/26 ~		1,810,000		1,753,025
Santander Drive Auto Receivables Trust
1.010% due 01/15/26		604,380		599,532
3.760% due 07/16/29		3,340,000		3,224,904
4.740% due 10/16/28		990,000		971,226
5.000% due 11/15/29		4,085,000		4,021,162
5.090% due 05/15/30		905,000		895,492
Santander Retail Auto Lease Trust
0.830% due 03/20/26 ~		4,240,000		4,035,078
1.110% due 03/20/26 ~		1,290,000		1,221,234
3.850% due 03/22/27 ~		990,000		959,715
Sierra Timeshare Receivables Funding LLC 3.510% due 07/20/37 ~		335,337		317,549
SMB Private Education Loan Trust
1.290% due 07/15/53 ~		1,324,118		1,187,043
1.310% due 07/17/51 ~		2,184,126		1,945,575
1.600% due 09/15/54 ~		3,979,761		3,566,345
5.404% (USD LIBOR + 0.720%) due 01/15/37 § ~		1,740,740		1,711,279
6.184% (USD LIBOR + 1.500%) due 04/15/32 § ~		736,926		735,664
Symphony CLO XXIII Ltd. (Cayman) 5.812% (USD LIBOR + 1.020%) due 01/15/34 § ~		3,645,000		3,597,716
Symphony CLO XXVI Ltd. (Cayman) 5.888% (USD LIBOR + 1.080%) due 04/20/33 § ~		1,110,000		1,089,168
Symphony Static CLO I Ltd. (Cayman) 6.268% (USD LIBOR + 1.450%) due 10/25/29 § ~		2,825,000		2,749,720
Volkswagen Auto Loan Enhanced Trust 1.260% due 08/20/26		1,045,000		1,016,943
World Omni Auto Receivables Trust
1.640% due 08/17/26		825,000		793,718
2.550% due 09/15/28		1,105,000		1,037,788
World Omni Select Auto Trust
0.840% due 06/15/26		1,200,000		1,171,504
1.250% due 10/15/26		1,375,000		1,310,696
1.440% due 11/15/27		540,000		484,230
5.870% due 08/15/28		1,200,000		1,202,393
Total Asset-Backed Securities (Cost $202,885,217)				197,949,947
U.S. GOVERNMENT AGENCY ISSUE - 0.3%
Federal Home Loan Banks 5.000% due 02/28/25		4,190,000		4,248,283
Total U.S. Government Agency Issue (Cost $4,184,680)				4,248,283

	Principal Amount		Value
U.S. TREASURY OBLIGATIONS - 28.8%
U.S. Treasury Notes - 28.8%
1.750% due 03/15/25		$58,565,000		$56,029,090
2.750% due 05/15/25		57,850,000		56,348,386
4.000% due 12/15/25		5,875,000		5,898,752
4.125% due 01/31/25		3,070,000		3,069,520
4.500% due 11/15/25 ‡		28,750,000		29,179,566
4.625% due 02/28/25		316,200,000		319,300,243
				469,825,557
Total U.S. Treasury Obligations (Cost $473,921,537)				469,825,557
FOREIGN GOVERNMENT BONDS & NOTES - 0.4%
Korea Housing Finance Corp. (South Korea) 4.625% due 02/24/28 ~		3,300,000		3,302,412
Korea Hydro & Nuclear Power Co. Ltd. (South Korea)
1.250% due 04/27/26 ~		1,790,000		1,606,319
4.250% due 07/27/27 ~		1,480,000		1,457,112
Total Foreign Government Bonds & Notes (Cost $6,552,573)				6,365,843
MUNICIPAL BONDS - 0.1%
Golden State Tobacco Securitization Corp. 1.711% due 06/01/24		1,505,000		1,444,818
Total Municipal Bonds (Cost $1,505,000)				1,444,818
SHORT-TERM INVESTMENT - 1.0%
Repurchase Agreement - 1.0%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $15,789,246; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $16,099,120)		15,783,393		15,783,393
Total Short-Term Investment (Cost $15,783,393)				15,783,393
TOTAL INVESTMENTS - 100.8% (Cost $1,693,112,261)				1,645,298,851
DERIVATIVES - 0.0%				680,105
OTHER ASSETS & LIABILITIES, NET - (0.8%)				(13,057,237	)
NET ASSETS - 100.0%				$1,632,921,719

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

76

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SHORT DURATION BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month	Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
U.S. Treasury 2-Year Notes	06/23		1,015		$207,184,928		$209,549,923		$2,364,995
Short Futures Outstanding
U.S. Treasury 5-Year Notes	06/23		168		18,083,980		18,397,313		(313,333	)
U.S. Treasury 10-Year Notes	06/23		209		23,331,475		24,018,672		(687,197	)
U.S. Treasury Ultra 10-Year Notes	06/23		153		18,008,699		18,534,516		(525,817	)
U.S. Treasury Ultra Long Bonds	06/23		33		4,498,582		4,657,125		(158,543	)
									(1,684,890	)
Total Futures Contracts									$680,105

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023			Level 1 Quoted Price			Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Corporate Bonds & Notes		$732,129,534			$-			$732,129,534		$-
	Mortgage-Backed Securities		217,551,476			-			217,551,476		-
	Asset-Backed Securities		197,949,947			-			197,949,947		-
	U.S. Government Agency Issue		4,248,283			-			4,248,283		-
	U.S. Treasury Obligations		469,825,557			-			469,825,557		-
	Foreign Government Bonds & Notes		6,365,843			-			6,365,843		-
	Municipal Bonds		1,444,818			-			1,444,818		-
	Short-Term Investment		15,783,393			-			15,783,393		-
	Derivatives:
	Interest Rate Contracts
	Futures		2,364,995			2,364,995			-		-
	Total Assets		1,647,663,846			2,364,995			1,645,298,851		-
Liabilities	Derivatives:
	Interest Rate Contracts
	Futures		(1,684,890	)		(1,684,890	)		-		-
	Total Liabilities		(1,684,890	)		(1,684,890	)		-		-
	Total		$1,645,978,956			$680,105			$1,645,298,851		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

77

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EMERGING MARKETS DEBT PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Principal Amount		Value
CORPORATE BONDS & NOTES - 34.5%
Azerbaijan - 0.5%
SOCAR Turkey Enerji AS via Steas Funding 1 DAC 7.230% due 03/17/26 ~		$1,020,000		$983,280
Brazil - 1.1%
CSN Inova Ventures 6.750% due 01/28/28 ~		2,000,000		1,880,521
MC Brazil Downstream Trading SARL 7.250% due 06/30/31 ~		34,588		27,212
Usiminas International SARL 5.875% due 07/18/26 ~		600,000		568,734
				2,476,467
Chile - 0.6%
Alfa Desarrollo SpA 4.550% due 09/27/51 ~		806,007		591,726
Corp. Nacional del Cobre de Chile 5.125% due 02/02/33 ~		750,000		758,200
				1,349,926
China - 2.9%
Country Garden Holdings Co. Ltd.
2.700% due 07/12/26 ~		200,000		110,650
3.125% due 10/22/25 ~		925,000		536,428
4.200% due 02/06/26 ~		1,400,000		818,912
5.400% due 05/27/25 ~		250,000		163,891
6.150% due 09/17/25 ~		200,000		128,863
7.250% due 04/08/26 ~		850,000		539,750
Powerlong Real Estate Holdings Ltd.
4.900% due 05/13/26 ~		400,000		92,000
6.250% due 08/10/24 ~		300,000		74,062
Prosus NV
3.257% due 01/19/27 ~		2,900,000		2,638,180
4.193% due 01/19/32 ~		1,575,000		1,340,056
				6,442,792
Colombia - 0.4%
Ecopetrol SA 8.875% due 01/13/33		800,000		810,400
Czech Republic - 0.6%
Energo-Pro AS 8.500% due 02/04/27 ~		1,425,000		1,373,344
Ghana - 1.0%
Kosmos Energy Ltd.
7.125% due 04/04/26 ~		1,000,000		859,214
7.500% due 03/01/28 ~		1,150,000		937,301
7.750% due 05/01/27 ~		500,000		420,565
				2,217,080
Hong Kong - 1.3%
AIA Group Ltd. due 04/04/33 # ~		575,000		579,136
Melco Resorts Finance Ltd.
5.250% due 04/26/26 ~		350,000		315,789
5.625% due 07/17/27 ~		625,000		550,625
5.750% due 07/21/28 ~		1,550,000		1,342,300
				2,787,850

	Principal Amount		Value
Hungary - 0.2%
OTP Bank Nyrt 7.350% due 03/04/26 ~		EUR 450,000		$487,849
Israel - 6.3%
Bank Hapoalim BM 3.255% due 01/21/32 ~		$2,425,000		2,026,087
Bank Leumi Le-Israel BM 7.129% due 07/18/33 ~		1,750,000		1,702,750
Energean Israel Finance Ltd.
4.875% due 03/30/26 ~		1,075,000		998,406
5.375% due 03/30/28 ~		2,425,000		2,176,437
Israel Discount Bank Ltd. 5.375% due 01/26/28 ~		2,475,000		2,440,157
Leviathan Bond Ltd.
5.750% due 06/30/23 ~		725,000		723,913
6.125% due 06/30/25 ~		1,800,000		1,757,250
6.500% due 06/30/27 ~		2,025,000		1,949,063
				13,774,063
Kazakhstan - 2.4%
KazMunayGas National Co. JSC 5.375% due 04/24/30 ~		3,975,000		3,555,030
Tengizchevroil Finance Co. International Ltd. 4.000% due 08/15/26 ~		1,900,000		1,683,970
				5,239,000
Macau - 0.3%
MGM China Holdings Ltd. 5.250% due 06/18/25 ~		725,000		687,780
Malaysia - 0.5%
Gohl Capital Ltd. 4.250% due 01/24/27 ~		1,192,000		1,091,834
Mexico - 3.6%
Banco Mercantil del Norte SA 5.875% due 01/24/27 ~		2,300,000		1,960,750
BBVA Bancomer SA 5.125% due 01/18/33 ~		200,000		171,256
Cemex SAB de CV
5.125% due 06/08/26 ~		1,450,000		1,299,490
9.125% due 03/14/28 ~		575,000		576,554
Comision Federal de Electricidad 5.000% due 09/29/36 ~		1,944,800		1,636,827
Petroleos Mexicanos 6.490% due 01/23/27		2,600,000		2,359,721
				8,004,598
Nigeria - 0.5%
IHS Holding Ltd. 5.625% due 11/29/26 ~		1,275,000		1,077,120
Oman - 0.6%
Lamar Funding Ltd. 3.958% due 05/07/25 ~		1,475,000		1,406,855
Poland - 0.1%
Polski Koncern Naftowy ORLEN SA 1.125% due 05/27/28 ~		EUR 225,000		205,019

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

78

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Qatar - 0.7%
QIB Sukuk Ltd. 3.982% due 03/26/24 ~		$1,600,000		$ 1,579,440
Romania - 0.4%
NE Property BV 3.375% due 07/14/27 ~		EUR 975,000		931,585
Saudi Arabia - 1.2%
Greensaif Pipelines Bidco SARL 6.129% due 02/23/38 ~		$1,625,000		1,673,258
TMS Issuer Sarl 5.780% due 08/23/32 ~		1,000,000		1,044,520
				2,717,778
South Africa - 3.5%
Sasol Financing USA LLC
4.375% due 09/18/26		1,650,000		1,493,365
5.500% due 03/18/31		900,000		753,574
6.500% due 09/27/28		600,000		561,295
Stillwater Mining Co.
4.000% due 11/16/26 ~		2,450,000		2,195,690
4.500% due 11/16/29 ~		950,000		783,935
Transnet SOC Ltd. 8.250% due 02/06/28 ~		1,950,000		1,944,959
				7,732,818
South Korea - 0.4%
SK Hynix, Inc. 6.250% due 01/17/26 ~		800,000		808,540
Supranational - 0.9%
Africa Finance Corp. 2.875% due 04/28/28 ~		2,500,000		2,055,375
Tanzania - 0.8%
HTA Group Ltd. 7.000% due 12/18/25 ~		1,762,000		1,676,279
Ukraine - 0.1%
NPC Ukrenergo 6.875% due 11/09/28 ~ Y		1,375,000		200,006
United Arab Emirates - 2.0%
Galaxy Pipeline Assets Bidco Ltd. 2.160% due 03/31/34 ~		4,346,790		3,748,753
MAF Global Securities Ltd. 7.875% due 06/30/27 ~		625,000		631,481
				4,380,234
Venezuela - 1.6%
Petroleos de Venezuela SA
5.375% due 04/12/27 * Y ~		1,432,000		64,440
8.500% * Y ~		11,929,000		3,220,830
9.000% * Y ~		1,780,581		82,352
9.750% due 05/17/35 * Y ~		2,733,498		133,258
12.750% * Y ~		1,152,000		59,040
				3,559,920
Total Corporate Bonds & Notes (Cost $89,695,327)				76,057,232

	Principal Amount		Value
CONVERTIBLE CORPORATE BONDS & NOTES - 0.9%
United Arab Emirates - 0.9%
Abu Dhabi National Oil Co. (United Arab Emirates) 0.700% due 06/04/24 ~		$2,200,000		$2,087,800
Total Convertible Corporate Bonds & Notes (Cost $2,118,032)				2,087,800
	Shares
FOREIGN GOVERNMENT BONDS & NOTES - 57.5%
Angola - 0.9%
Angolan Government
8.000% due 11/26/29 ~		2,425,000		2,086,470
Bahamas - 1.1%
Bahamas Government
6.000% due 11/21/28 ~		2,675,000		2,042,986
9.000% due 06/16/29 ~		450,000		385,332
				2,428,318
Brazil - 5.0%
Brazil Notas do Tesouro Nacional Class F
10.000% due 01/01/27		BRL 59,800,000		11,084,316
Colombia - 2.5%
Colombia Government
3.000% due 01/30/30		$1,775,000		1,396,641
4.500% due 03/15/29		2,075,000		1,833,952
Colombia TES
6.000% due 04/28/28		COP 13,600,000,00		2,343,004
				5,573,597
Czech Republic - 2.7%
Czech Republic Government
1.000% due 06/26/26 ~		CZK 53,800,000		2,199,247
1.250% due 02/14/25		38,800,000		1,667,529
2.400% due 09/17/25 ~		45,900,000		1,986,520
				5,853,296
Ecuador - 0.8%
Ecuador Government VRN
2.500% due 07/31/35 § ~		$5,225,000		1,762,262
El Salvador - 1.3%
El Salvador Government
6.375% due 01/18/27 ~		900,000		507,430
7.625% due 09/21/34 ~		500,000		237,066
7.625% due 02/01/41 ~		1,925,000		909,259
7.650% due 06/15/35 ~		1,280,000		608,311
8.625% due 02/28/29 ~		1,100,000		593,084
				2,855,150
Ghana - 0.1%
Ghana Government REGS
10.750% due 10/14/30 ~		400,000		277,710
Hungary - 1.5%
Hungary Government
6.125% due 05/22/28 ~		1,800,000		1,848,161
6.250% due 09/22/32 ~		1,425,000		1,456,143
				3,304,304

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

79

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Indonesia - 4.2%
Indonesia Treasury
5.125% due 04/15/27		IDR 7,300,000,000		$467,001
6.375% due 08/15/28		50,000,000,000		3,340,708
6.500% due 02/15/31		28,900,000,000		1,916,773
7.000% due 02/15/33		52,300,000,000		3,549,857
				9,274,339
Iraq - 2.1%
Iraq Government 5.800% due 01/15/28 ~		$4,921,875		4,601,495
Israel - 1.0%
Israel Government 4.500% due 01/17/33		2,270,000		2,270,000
Ivory Coast - 1.9%
Ivory Coast Government
4.875% due 01/30/32 ~		EUR 4,425,000		3,670,544
5.875% due 10/17/31 ~		686,000		613,274
				4,283,818
Mexico - 8.5%
Mexican Bonos
7.750% due 11/23/34		MXN 206,500,000		10,576,880
7.750% due 11/13/42		43,300,000		2,096,746
Mexico Government
4.875% due 05/19/33		$3,575,000		3,427,116
6.350% due 02/09/35		2,525,000		2,687,606
				18,788,348
Nigeria - 0.9%
Nigeria Government MTN REGS 6.125% due 09/28/28 ~		2,500,000		1,954,375
Peru - 2.9%
Peru Government
5.400% due 08/12/34		PEN 10,100,000		2,254,432
5.940% due 02/12/29		9,200,000		2,309,641
Peruvian Government
6.350% due 08/12/28 ~		6,700,000		1,737,545
				6,301,618
Poland - 4.4%
Republic of Poland Government
due 10/04/33 #		$3,650,000		3,638,502
2.500% due 07/25/26		PLN 11,800,000		2,454,056
4.000% due 01/22/24		$1,000,000		993,788
5.858% due 07/25/24		PLN 12,200,000		2,621,435
				9,707,781
Romania - 3.3%
Romanian Government
1.375% due 12/02/29 ~		EUR 650,000		531,806
2.000% due 04/14/33 ~		2,725,000		2,022,416
3.624% due 05/26/30 ~		725,000		667,311
4.850% due 07/25/29		RON 7,500,000		1,442,432
5.000% due 02/12/29		6,900,000		1,349,579
6.625% due 09/27/29 ~		EUR 1,050,000		1,165,986
				7,179,530

	Principal Amount		Value
Saudi Arabia - 3.2%
Saudi Government
4.750% due 01/18/28 ~		$1,800,000		$1,823,463
4.875% due 07/18/33 ~		1,425,000		1,440,765
5.000% due 01/18/53 ~		1,175,000		1,094,604
4.500% due 10/26/46 ~		3,175,000		2,794,473
				7,153,305
Senegal - 1.1%
Senegal Government
4.750% due 03/13/28 ~		EUR 2,325,000		2,127,106
6.250% due 07/30/24 ~		$400,000		386,260
				2,513,366
Serbia - 0.4%
Serbia Government ~ 6.250% due 05/26/28 ~		875,000		885,780
South Africa - 2.7%
Republic of South Africa Government
8.750% due 01/31/44		ZAR 1,000		44
8.750% due 02/28/48		2,000		86
8.875% due 02/28/35		124,290,000		5,991,469
				5,991,599
South Korea - 0.6%
Korea Government 3.875% due 09/11/23		$1,300,000		1,296,292
Sri Lanka - 0.5%
Sri Lanka Government
6.825% due 07/18/26 Y ~		298,000		110,639
6.850% due 11/03/25 * Y ~		2,400,000		888,131
				998,770
Tunisia - 1.4%
Tunisian Republic
5.750% due 01/30/25 ~		200,000		115,052
6.375% due 07/15/26 ~		EUR 5,050,000		2,946,149
				3,061,201
Ukraine - 0.8%
State Agency of Roads of Ukraine ~ Y		$3,600,000		577,327
Ukraine Government
1.000% due 08/01/41 § ~ * Y		1,325,000		356,850
6.876% due 05/21/31 ~ * Y		1,100,000		199,241
7.750% due 09/01/27 ~ * Y		600,000		108,100
7.750% due 09/01/28 ~ * Y		2,450,000		442,717
				1,684,235
Uzbekistan - 0.8%
Republic of Uzbekistan
4.750% due 02/20/24 ~		725,000		714,430
5.375% due 02/20/29 ~		1,050,000		963,407
				1,677,837
Venezuela - 0.6%
Venezuela Government
7.750% * Y ~		913,000		68,475
8.250% due 10/13/24 * Y ~		1,784,900		196,339
9.000% due 05/07/23 * Y ~		816,000		87,720
11.750% due 10/21/26 * Y ~		7,749,400		833,061
12.750% * Y ~		1,624,000		174,580
				1,360,175

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

80

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EMERGING MARKETS DEBT PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Zambia - 0.3%
Zambia Government 8.500% due 04/14/24 * Y ~		$1,250,000		$570,313
Total Foreign Government Bonds & Notes (Cost $134,991,961)				126,779,600
SHORT-TERM INVESTMENTS - 5.9%
Repurchase Agreement - 3.6%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $7,964,974; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $8,121,263)		7,962,021		7,962,021
U.S. Treasury Bills - 2.3%
4.366% due 05/04/23		5,000,000		4,980,135
Total Short-Term Investments (Cost $12,940,846)				12,942,156
TOTAL INVESTMENTS - 98.8% (Cost $239,746,166)				217,866,788
DERIVATIVES - (0.0%)				(105,566	)
OTHER ASSETS & LIABILITIES, NET - 1.2%				2,666,877
NET ASSETS - 100.0%				$220,428,099

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $8,373,419 or 3.8% of the Fund’s net assets were in default as of March 31, 2023.

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

81

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(b) Open futures contracts outstanding as of March 31, 2023 were as follows:

Short Futures Outstanding	Expiration Month	Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Euro-BTP	06/23		27		$3,287,979		$3,377,621		($89,642	)

(c) Forward foreign currency contracts outstanding as of March 31, 2023 were as follows:

Currency Purchased		Currency Sold		Settlement Month	Counterparty	Unrealized Appreciation		Unrealized Depreciation
BRL	16,350,000	USD	3,088,332	04/23	JPM		$126,918		$-
CZK	98,725,000	USD	4,458,430	04/23	JPM		98,859		-
EUR	1,900,000	USD	2,028,668	04/23	JPM		33,367		-
HUF	1,925,000,000	USD	5,385,738	04/23	JPM		72,324		-
ILS	15,700,000	USD	4,438,633	04/23	JPM		-		(70,720	)
INR	540,500,000	USD	6,566,239	04/23	CIT		7,181		-
PLN	22,100,000	USD	5,124,539	04/23	JPM		-		(10,870	)
THB	112,100,000	USD	3,272,037	04/23	HSB		13,261		-
THB	104,400,000	USD	3,053,490	04/23	JPM		6,146		-
USD	3,100,534	BRL	16,350,000	04/23	CIT		-		(114,716	)
USD	10,966,201	CNH	75,200,000	04/23	CIT		7,682		-
USD	2,151,467	COP	10,400,000,000	04/23	JPM		-		(72,919	)
USD	20,032,263	EUR	18,722,756	04/23	JPM		-		(288,255	)
USD	245,198	EUR	225,000	04/23	JPM		1,010		-
USD	3,349,610	MXN	63,100,000	04/23	CIT		-		(138,375	)
USD	5,067,524	PLN	22,100,000	04/23	JPM		-		(46,146	)
USD	12,227,254	ZAR	228,000,000	04/23	CIT		-		(555,476	)
Total Forward Foreign Currency Contracts							$366,748		($1,297,477	)

(d) Swap agreements outstanding as of March 31, 2023 were as follows:

Credit Default Swaps on Corporate and Sovereign Issues – Buy Protection (1)

Referenced Obligation	Payment Frequency	Fixed Deal Pay Rate		Expiration Date		Counter- party	Implied Credit Spread at 03/31/23 (2)	Notional Amount (3)		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Bank of China Ltd.	Q		1.000%		12/20/25	GSC	0.553%		$5,900,000		($69,876	)		($62,719	)		($7,157	)
China Development Bank	Q		1.000%		12/20/25	GSC	0.534%		4,600,000		(56,641	)		(50,890	)		(5,751	)
Industrial & Commercial Bank of China Ltd.	Q		1.000%		12/20/25	GSC	0.539%		5,150,000		(62,813	)		(55,894	)		(6,919	)
China Construction Bank Corp.	Q		1.000%		12/20/25	GSC	0.551%		5,150,000		(61,267	)		(55,894	)		(5,373	)
											(250,597	)		(225,397	)		(25,200	)
						Exchange
Bahrain Government	Q		1.000%		06/20/28	ICE	2.439%		1,700,000		108,939			127,815			(18,876	)
South Africa Government	Q		1.000%		06/20/28	ICE	2.739%		8,700,000		674,164			652,254			21,910
											783,103			780,069			3,034
Total Credit default Swaps on Corporate and Sovereign Issues – Buy Protection											$532,506			$554,672			($22,166	)

Credit Default Swaps on Corporate Issues – Sell Protection (4)

Referenced Obligation

Payment Frequency

Fixed Deal Receive Rate

Expiration Date

Exchange

Implied Credit Spread at 03/31/23 (2)

Notional Amount (3)

Value (5)

Upfront Premiums Paid (Received)

Unrealized Appreciation (Depreciation)

South Africa Government

Q

1.000%

06/20/28

ICE

2.739%

$2,825,000

($218,909

)

($244,947

)

$26,038

Credit Default Swaps on Credit Indices – Buy Protection (1)

Referenced Obligation

Payment Frequency

Fixed Deal Pay Rate

Expiration Date

Exchange

Notional Amount (3)

Value (5)

Upfront Premiums Paid (Received)

Unrealized Appreciation (Depreciation)

CDX iTraxx Europe

Q

5.000%

12/20/27

ICE

EUR 23,500,000

($955,150

)

($470,071

)

($485,079

)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

82

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EMERGING MARKETS DEBT PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Credit Default Swaps on Credit Indices – Sell Protection (1)

Referenced Obligation

Payment Frequency

Fixed Deal Receive Rate

Expiration Date

Exchange

Notional Amount (3)

Value (5)

Upfront Premiums Paid (Received)

Unrealized Appreciation (Depreciation)

CDX iTraxx Europe

Q

5.000%

12/20/27

ICE

EUR 15,800,000

$642,202

$261,791

$380,411

Total Credit Default Swaps

$649

$101,445

($100,796

)

(1) If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.

(2) An implied credit spread is the spread in yield between a U.S. Treasury security and the referenced obligation or underlying investment that are identical in all respects except for the quality rating. Implied credit spreads, represented in the absolute terms, utilized in determining the value of credit default swap agreements on corporate and sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter the agreement. Wider credit spreads, in comparison to narrower credit spreads, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.

(3) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying investments comprising the referenced index or (ii) pay a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.

(5) The quoted market prices and resulting values for credit default swap agreements on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of period end. Increasing values (buy protection) or decreasing values (sell protection), when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

Interest Rate Swaps – Long

Receive	Pay	Payment Frequency Receive Rate/ Pay Rate	Exchange	Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
11.770%	Brazil CETIP Interbank	Z/Z	LCH		01/02/25		BRL 207,710,417		($487,579	)		($746,462	)		$258,883
9.481%	28-Day MXN TIIE	L/L	LCH		06/18/25		MXN 445,000,000		-			-			-
11.950%	Brazil CETIP Interbank	Z/Z	LCH		01/04/27		BRL 37,999,875		-			-			-
3.208%	3-Month ILS-TELBOR	A/Q	LCH		03/15/28		ILS 37,400,000		(230,074	)		-			(230,074	)
3.488%	3-Month ILS-TELBOR	A/Q	LCH		06/21/28		34,300,000		(65,681	)		-			(65,681	)
3.634%	3-Month KRW-KWCDC	Q/Q	LCH		06/21/28		KRW 9,300,000,000		168,484			-			168,484
8.763%	28-Day MXN TIIE	L/L	LCH		12/08/32		MXN 50,800,000		69,810			-			69,810
									($545,040	)		($746,462	)		$201,422
Interest Rate Swaps – Short
Pay	Receive	Payment Frequency Pay Rate/ Receive Rate	Exchange	Expiration Date		Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
7.372%	1-Day CLP CAMARA	S/S	LCH		11/29/24		CLP 23,000,000,000		$755,016			$13,992			$741,024
3.952%	1-Day USD SOFR	A/A	LCH		06/18/25		$23,400,000		-			-			-
3.208%	3-Month ILS-TELBOR	A/Q	LCH		03/15/28		ILS 37,400,000		230,200			160,456			69,744
8.763%	28-Day MXN TIIE	L/L	LCH		12/08/32		MXN 50,800,000		(66,705	)		(70,116	)		3,411
									$918,511			$104,332			$814,179
Total Interest Rate Swaps									$373,471			(642,130	)		1,015,601
Total Swap Agreements									$374,120			($540,685	)		$914,805

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

83

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(e) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023			Level 1 Quoted Price			Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Assets	Corporate Bonds & Notes		$76,057,232			$-			$76,057,232			$-
	Convertible Corporate Bonds & Notes		2,087,800			-			2,087,800			-
	Foreign Government Bonds & Notes		126,779,600			-			126,779,600			-
	Short-Term Investments		12,942,156			-			12,942,156			-
	Derivatives:
	Credit Contracts
	Swaps		428,359			-			428,359			-
	Foreign Currency Contracts
	Forward Foreign Currency Contracts		366,748			-			366,748			-
	Interest Rate Contracts
	Swaps		1,311,356			-			1,311,356			-
	Total Interest Rate Contracts		1,311,356			-			1,311,356			-
	Total Asset - Derivatives		2,106,463			-			2,106,463			-
	Total Assets		219,973,251			-			219,973,251			-
Liabilities	Derivatives:
	Credit Contracts
	Swaps		(529,155	)		-			(529,155	)		-
	Foreign Currency Contracts
	Forward Foreign Currency Contracts		(1,297,477	)		-			(1,297,477	)		-
	Interest Rate Contracts
	Futures		(89,642	)		(89,642	)		-			-
	Swaps		(295,755	)		-			(295,755	)		-
	Total Interest Rate Contracts		(385,397	)		(89,642	)		(295,755	)		-
	Total Liabilities - Derivatives		(2,212,029	)		(89,642	)		(2,122,387	)		-
	Total Liabilities		(2,212,029	)		(89,642	)		(2,122,387	)		-
	Total		$217,761,222			($89,642	)		$217,850,864			$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

84

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DIVIDEND GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
PREFERRED STOCKS - 0.3%
Consumer, Cyclical - 0.3%
Dr Ing hc F Porsche AG *		40,050		$5,140,384
Total Preferred Stocks (Cost $3,348,050)				5,140,384
COMMON STOCKS - 96.0%
Basic Materials - 3.3%
Air Products & Chemicals, Inc.		25,337		7,277,040
Linde PLC		48,194		17,130,075
Nutrien Ltd. (Canada)		98,351		7,263,221
RPM International, Inc.		53,824		4,695,606
Sherwin-Williams Co.		46,741		10,505,975
				46,871,917
Communications - 0.8%
Walt Disney Co. *		116,990		11,714,209
Consumer, Cyclical - 10.3%
Costco Wholesale Corp.		14,760		7,333,801
Cummins, Inc.		29,181		6,970,757
Dollar General Corp.		87,403		18,394,835
Hilton Worldwide Holdings, Inc.		109,016		15,357,084
Home Depot, Inc.		56,169		16,576,595
Las Vegas Sands Corp. *		122,795		7,054,573
Marriott International, Inc. Class A		18,969		3,149,613
McDonald’s Corp.		59,505		16,638,193
NIKE, Inc. Class B		75,406		9,247,792
Ross Stores, Inc.		178,228		18,915,337
Tractor Supply Co.		24,566		5,773,993
Walmart, Inc.		85,597		12,621,278
Yum! Brands, Inc.		64,228		8,483,234
				146,517,085
Consumer, Non-Cyclical - 26.6%
AbbVie, Inc.		126,044		20,087,632
AstraZeneca PLC ADR (United Kingdom)		256,552		17,807,274
Automatic Data Processing, Inc.		35,665		7,940,099
Avery Dennison Corp.		64,906		11,613,631
Becton Dickinson & Co.		76,981		19,055,877
Cigna Group		27,753		7,091,724
Coca-Cola Co.		286,333		17,761,236
Colgate-Palmolive Co.		50,583		3,801,312
Constellation Brands, Inc. Class A		37,475		8,465,228
Danaher Corp.		89,097		22,456,008
Diageo PLC (United Kingdom)		161,949		7,227,723
Elevance Health, Inc.		24,948		11,471,340
Eli Lilly & Co.		43,631		14,983,758
Equifax, Inc.		29,451		5,973,841
GE HealthCare Technologies, Inc. *		92,103		7,555,209
Johnson & Johnson		89,804		13,919,620
Keurig Dr Pepper, Inc.		113,119		3,990,838
McKesson Corp.		43,957		15,650,890
Medtronic PLC		47,068		3,794,622
Mondelez International, Inc. Class A		290,834		20,276,946
Nestle SA		53,309		6,499,993
PepsiCo, Inc.		101,212		18,450,948
Philip Morris International, Inc.		190,014		18,478,862
S&P Global, Inc.		19,904		6,862,302
Stryker Corp.		58,784		16,781,068
Thermo Fisher Scientific, Inc.		42,781		24,657,685
UnitedHealth Group, Inc.		68,971		32,595,005

	Shares		Value
Zoetis, Inc.		76,556		$ 12,741,981
				377,992,652
Energy - 2.7%
EOG Resources, Inc.		118,439		13,576,663
Exxon Mobil Corp.		163,071		17,882,366
TotalEnergies SE (France)		119,815		7,064,732
				38,523,761
Financial - 17.4%
American Express Co.		61,646		10,168,508
American Tower Corp. REIT		72,875		14,891,278
Aon PLC Class A		43,009		13,560,308
Bank of America Corp.		536,789		15,352,165
Charles Schwab Corp.		212,967		11,155,211
Chubb Ltd.		121,220		23,538,500
CME Group, Inc.		19,101		3,658,224
Crown Castle, Inc. REIT		12,270		1,642,217
Equity Residential REIT		250,306		15,018,360
Goldman Sachs Group, Inc.		20,159		6,594,210
Hartford Financial Services Group, Inc.		120,784		8,417,437
JPMorgan Chase & Co.		185,808		24,212,640
Marsh & McLennan Cos., Inc.		146,910		24,467,861
Morgan Stanley		175,665		15,423,387
Progressive Corp.		62,638		8,960,992
Rexford Industrial Realty, Inc. REIT		141,188		8,421,864
Visa, Inc. Class A		124,350		28,035,951
Wells Fargo & Co.		335,127		12,527,047
				246,046,160
Industrial - 14.2%
Agilent Technologies, Inc.		101,172		13,996,134
Amphenol Corp. Class A		130,501		10,664,542
Ball Corp.		141,988		7,824,959
General Electric Co.		216,695		20,716,042
Honeywell International, Inc.		97,291		18,594,256
Howmet Aerospace, Inc.		194,205		8,228,466
Illinois Tool Works, Inc.		43,044		10,479,062
JB Hunt Transport Services, Inc.		43,228		7,584,785
Northrop Grumman Corp.		30,674		14,162,799
Old Dominion Freight Line, Inc.		25,403		8,658,358
Otis Worldwide Corp.		78,647		6,637,807
Schneider Electric SE		47,012		7,856,823
Stanley Black & Decker, Inc.		79,234		6,384,676
TE Connectivity Ltd.		92,911		12,185,277
Trane Technologies PLC		44,354		8,160,249
Union Pacific Corp.		79,170		15,933,754
United Parcel Service, Inc. Class B		45,115		8,751,859
Waste Connections, Inc.		106,426		14,800,664
				201,620,512
Technology - 17.4%
Accenture PLC Class A		88,994		25,435,375
Apple, Inc.		345,740		57,012,526
Applied Materials, Inc.		81,731		10,039,019
Broadridge Financial Solutions, Inc.		82,987		12,163,405
Fidelity National Information Services, Inc.		89,819		4,879,866
KLA Corp.		24,760		9,883,449
Microchip Technology, Inc.		98,686		8,267,913
Microsoft Corp.		253,615		73,117,204
QUALCOMM, Inc.		35,197		4,490,433
Roper Technologies, Inc.		46,552		20,515,001
Texas Instruments, Inc.		111,394		20,720,398
				246,524,589
Utilities - 3.3%
Ameren Corp.		167,367		14,458,835
Atmos Energy Corp.		68,379		7,683,065
CMS Energy Corp.		185,723		11,399,678

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

85

PACIFIC SELECT FUND

DIVIDEND GROWTH PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
NextEra Energy, Inc.		54,605		$4,208,953
WEC Energy Group, Inc.		91,809		8,702,575
				46,453,106
Total Common Stocks (Cost $1,004,024,932)				1,362,263,991
	Principal Amount
SHORT-TERM INVESTMENT - 3.7%
Repurchase Agreement - 3.7%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $51,958,885; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $52,978,457)		$51,939,624		51,939,624
Total Short-Term Investment (Cost $51,939,624)				51,939,624
TOTAL INVESTMENTS - 100.0% (Cost $1,059,312,606)				1,419,343,999
OTHER ASSETS & LIABILITIES, NET - 0.0%				239,251
NET ASSETS - 100.0%				$1,419,583,250

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Preferred Stocks		$5,140,384		$-		$5,140,384		$-
	Common Stocks
	Basic Materials		46,871,917		46,871,917		-		-
	Communications		11,714,209		11,714,209		-		-
	Consumer, Cyclical		146,517,085		146,517,085		-		-
	Consumer, Non-Cyclical		377,992,652		364,264,936		13,727,716		-
	Energy		38,523,761		31,459,029		7,064,732		-
	Financial		246,046,160		246,046,160		-		-
	Industrial		201,620,512		193,763,689		7,856,823		-
	Technology		246,524,589		246,524,589		-		-
	Utilities		46,453,106		46,453,106		-		-
	Total Common Stocks		1,362,263,991		1,333,614,720		28,649,271		-
	Short-Term Investment		51,939,624		-		51,939,624		-
	Total		$1,419,343,999		$1,333,614,720		$85,729,279		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

86

PACIFIC SELECT FUND

EQUITY INDEX PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 99.8%
Basic Materials - 2.2%
Air Products & Chemicals, Inc.		25,654		$7,368,085
Albemarle Corp.		13,583		3,002,386
Celanese Corp.		10,995		1,197,246
CF Industries Holdings, Inc.		22,841		1,655,744
Dow, Inc.		82,005		4,495,514
DuPont de Nemours, Inc.		55,458		3,980,221
Eastman Chemical Co.		14,195		1,197,206
Ecolab, Inc.		28,625		4,738,296
FMC Corp.		14,448		1,764,534
Freeport-McMoRan, Inc.		165,109		6,754,609
International Flavors & Fragrances, Inc.		29,169		2,682,381
International Paper Co.		42,181		1,521,047
Linde PLC		56,895		20,222,759
LyondellBasell Industries NV Class A		28,992		2,722,059
Mosaic Co.		40,519		1,859,012
Newmont Corp.		91,689		4,494,595
Nucor Corp.		29,232		4,515,467
PPG Industries, Inc.		27,149		3,626,563
Sherwin-Williams Co.		27,241		6,122,960
Steel Dynamics, Inc.		18,798		2,125,302
				86,045,986
Communications - 12.1%
Alphabet, Inc. Class A *		688,010		71,367,277
Alphabet, Inc. Class C *		599,775		62,376,600
Amazon.com, Inc. *		1,029,834		106,371,554
Arista Networks, Inc. *		28,592		4,799,453
AT&T, Inc.		823,394		15,850,335
Booking Holdings, Inc. *		4,488		11,904,016
CDW Corp.		15,320		2,985,715
Charter Communications, Inc. Class A *		12,544		4,485,860
Cisco Systems, Inc.		474,550		24,807,101
Comcast Corp. Class A		486,186		18,431,311
Corning, Inc.		87,934		3,102,312
DISH Network Corp. Class A *		24,949		232,774
eBay, Inc.		62,933		2,792,337
Etsy, Inc. *		14,276		1,589,347
Expedia Group, Inc. *		17,141		1,663,191
F5, Inc. *		7,043		1,026,095
FactSet Research Systems, Inc.		4,457		1,850,056
Fox Corp. Class A		34,199		1,164,476
Fox Corp. Class B		14,368		449,862
Gen Digital, Inc.		65,904		1,130,913
Interpublic Group of Cos., Inc.		45,604		1,698,293
Juniper Networks, Inc.		36,259		1,248,035
Match Group, Inc. *		33,559		1,288,330
Meta Platforms, Inc. Class A *		257,110		54,491,893
Motorola Solutions, Inc.		19,315		5,526,601
Netflix, Inc. *		51,444		17,772,873
News Corp. Class A		44,294		764,957
News Corp. Class B		11,270		196,436
Omnicom Group, Inc.		22,852		2,155,858
Paramount Global Class B		61,474		1,371,485
T-Mobile US, Inc. *		68,420		9,909,953
VeriSign, Inc. *		10,715		2,264,401
Verizon Communications, Inc.		485,152		18,867,561
Walt Disney Co. *		211,025		21,129,933
Warner Bros Discovery, Inc. *		257,915		3,894,517
				480,961,711
Consumer, Cyclical - 9.4%
Advance Auto Parts, Inc.		6,813		828,529
Alaska Air Group, Inc. *		13,969		586,139
American Airlines Group, Inc. *		73,874		1,089,641
Aptiv PLC *		31,299		3,511,435

	Shares		Value
AutoZone, Inc. *		2,217		$5,449,719
Bath & Body Works, Inc.		27,606		1,009,827
Best Buy Co., Inc.		22,158		1,734,307
BorgWarner, Inc.		27,071		1,329,457
Caesars Entertainment, Inc. *		25,691		1,253,978
CarMax, Inc. *		17,570		1,129,400
Carnival Corp. *		121,389		1,232,098
Chipotle Mexican Grill, Inc. *		3,193		5,454,570
Copart, Inc. *		49,518		3,724,249
Costco Wholesale Corp.		51,258		25,468,562
Cummins, Inc.		16,322		3,898,999
Darden Restaurants, Inc.		13,788		2,139,346
Delta Air Lines, Inc. *		75,520		2,637,158
Dollar General Corp.		25,560		5,379,358
Dollar Tree, Inc. *		24,023		3,448,502
Domino’s Pizza, Inc.		4,229		1,395,020
DR Horton, Inc.		35,921		3,509,122
Fastenal Co.		65,940		3,556,804
Ford Motor Co.		452,281		5,698,741
General Motors Co.		163,370		5,992,412
Genuine Parts Co.		16,283		2,724,309
Hasbro, Inc.		15,081		809,699
Hilton Worldwide Holdings, Inc.		30,919		4,355,560
Home Depot, Inc.		117,732		34,745,068
Las Vegas Sands Corp. *		37,334		2,144,838
Lennar Corp. Class A		29,547		3,105,685
Live Nation Entertainment, Inc. *		16,213		1,134,910
LKQ Corp.		29,051		1,648,935
Lowe’s Cos., Inc.		69,953		13,988,501
Marriott International, Inc. Class A		31,027		5,151,723
McDonald’s Corp.		84,606		23,656,684
MGM Resorts International		35,988		1,598,587
Newell Brands, Inc.		39,580		492,375
NIKE, Inc. Class B		143,894		17,647,160
Norwegian Cruise Line Holdings Ltd. *		48,659		654,464
NVR, Inc. *		359		2,000,416
O’Reilly Automotive, Inc. *		7,175		6,091,431
PACCAR, Inc.		60,884		4,456,709
Pool Corp.		4,427		1,515,982
PulteGroup, Inc.		25,006		1,457,350
Ralph Lauren Corp.		4,766		556,049
Ross Stores, Inc.		39,127		4,152,549
Royal Caribbean Cruises Ltd. *		24,428		1,595,148
Southwest Airlines Co.		67,815		2,206,700
Starbucks Corp.		132,762		13,824,507
Tapestry, Inc.		28,065		1,209,882
Target Corp.		53,173		8,807,044
Tesla, Inc. *		310,677		64,453,050
TJX Cos., Inc.		133,479		10,459,414
Tractor Supply Co.		12,539		2,947,167
Ulta Beauty, Inc. *		5,951		3,247,282
United Airlines Holdings, Inc. *		38,529		1,704,908
VF Corp.		36,418		834,336
Walgreens Boots Alliance, Inc.		81,786		2,828,160
Walmart, Inc.		161,992		23,885,720
Whirlpool Corp.		6,457		852,453
WW Grainger, Inc.		5,212		3,590,078
Wynn Resorts Ltd. *		12,045		1,347,956
Yum! Brands, Inc.		31,925		4,216,654
				373,556,816
Consumer, Non-Cyclical - 21.3%
Abbott Laboratories		201,410		20,394,777
AbbVie, Inc.		204,287		32,557,219
Align Technology, Inc. *		8,494		2,838,185
Altria Group, Inc.		206,257		9,203,187
AmerisourceBergen Corp.		18,691		2,992,616
Amgen, Inc.		61,683		14,911,865
Archer-Daniels-Midland Co.		63,147		5,030,290
Automatic Data Processing, Inc.		47,864		10,655,962
Avery Dennison Corp.		9,367		1,676,037

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

87

PACIFIC SELECT FUND

EQUITY INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Baxter International, Inc.		57,089		$2,315,530
Becton Dickinson & Co.		32,795		8,118,074
Bio-Rad Laboratories, Inc. Class A *		2,591		1,241,141
Bio-Techne Corp.		17,632		1,308,118
Biogen, Inc. *		16,379		4,553,853
Boston Scientific Corp. *		165,454		8,277,664
Bristol-Myers Squibb Co.		245,604		17,022,813
Brown-Forman Corp. Class B		20,644		1,326,790
Bunge Ltd.		16,867		1,611,136
Campbell Soup Co.		22,767		1,251,730
Cardinal Health, Inc.		30,561		2,307,356
Catalent, Inc. *		21,035		1,382,210
Centene Corp. *		64,382		4,069,586
Charles River Laboratories International, Inc. *		5,633		1,136,852
Church & Dwight Co., Inc.		27,868		2,463,810
Cigna Group		34,263		8,755,224
Cintas Corp.		10,009		4,630,964
Clorox Co.		14,269		2,257,927
Coca-Cola Co.		449,593		27,888,254
Colgate-Palmolive Co.		96,480		7,250,472
Conagra Brands, Inc.		54,974		2,064,823
Constellation Brands, Inc. Class A		18,755		4,236,567
Cooper Cos., Inc.		5,567		2,078,495
Corteva, Inc.		82,902		4,999,820
CoStar Group, Inc. *		46,979		3,234,504
CVS Health Corp.		147,457		10,957,530
Danaher Corp.		75,717		19,083,713
DaVita, Inc. *		6,693		542,869
Dentsply Sirona, Inc.		24,679		969,391
Dexcom, Inc. *		44,330		5,150,259
Edwards Lifesciences Corp. *		71,571		5,921,069
Elevance Health, Inc.		27,588		12,685,238
Eli Lilly & Co.		91,101		31,285,905
Equifax, Inc.		14,004		2,840,571
Estee Lauder Cos., Inc. Class A		26,762		6,595,763
FleetCor Technologies, Inc. *		8,377		1,766,290
Gartner, Inc. *		9,128		2,973,629
GE HealthCare Technologies, Inc. *		42,409		3,478,810
General Mills, Inc.		68,354		5,841,533
Gilead Sciences, Inc.		144,048		11,951,663
Global Payments, Inc.		31,502		3,315,270
HCA Healthcare, Inc.		24,285		6,403,469
Henry Schein, Inc. *		15,796		1,288,006
Hershey Co.		17,014		4,328,532
Hologic, Inc. *		28,928		2,334,490
Hormel Foods Corp.		32,734		1,305,432
Humana, Inc.		14,437		7,008,586
IDEXX Laboratories, Inc. *		9,491		4,746,259
Illumina, Inc. *		18,171		4,225,666
Incyte Corp. *		21,164		1,529,522
Insulet Corp. *		8,185		2,610,688
Intuitive Surgical, Inc. *		40,585		10,368,250
IQVIA Holdings, Inc. *		21,451		4,266,389
J M Smucker Co.		12,294		1,934,707
Johnson & Johnson		302,013		46,812,015
Kellogg Co.		30,273		2,027,080
Keurig Dr Pepper, Inc.		96,540		3,405,931
Kimberly-Clark Corp.		38,987		5,232,835
Kraft Heinz Co.		91,974		3,556,635
Kroger Co.		75,247		3,714,944
Laboratory Corp. of America Holdings		10,118		2,321,272
Lamb Weston Holdings, Inc.		16,937		1,770,255
MarketAxess Holdings, Inc.		4,303		1,683,721
McCormick & Co., Inc.		28,263		2,351,764
McKesson Corp.		16,218		5,774,419
Medtronic PLC		153,656		12,387,747
Merck & Co., Inc.		292,878		31,159,290
Moderna, Inc. *		37,860		5,814,539
Molina Healthcare, Inc. *		6,909		1,848,088
Molson Coors Beverage Co. Class B		22,107		1,142,490
Mondelez International, Inc. Class A		157,483		10,979,715
Monster Beverage Corp. *		87,994		4,752,556

	Shares		Value
Moody’s Corp.		18,200		$5,569,564
Organon & Co.		28,657		674,013
PayPal Holdings, Inc. *		130,152		9,883,743
PepsiCo, Inc.		159,094		29,002,836
PerkinElmer, Inc.		14,933		1,989,972
Pfizer, Inc.		648,425		26,455,740
Philip Morris International, Inc.		179,076		17,415,141
Procter & Gamble Co.		272,518		40,520,701
Quanta Services, Inc.		16,274		2,711,899
Quest Diagnostics, Inc.		12,931		1,829,478
Regeneron Pharmaceuticals, Inc. *		12,419		10,204,320
ResMed, Inc.		17,132		3,751,737
Robert Half International, Inc.		12,427		1,001,243
Rollins, Inc.		27,278		1,023,743
S&P Global, Inc.		38,028		13,110,914
STERIS PLC		11,737		2,245,053
Stryker Corp.		38,947		11,118,200
Sysco Corp.		58,984		4,555,334
Teleflex, Inc.		5,288		1,339,503
Thermo Fisher Scientific, Inc.		45,305		26,112,443
Tyson Foods, Inc. Class A		32,118		1,905,240
United Rentals, Inc.		8,043		3,183,098
UnitedHealth Group, Inc.		107,932		51,007,584
Universal Health Services, Inc. Class B		7,429		944,226
Verisk Analytics, Inc.		17,816		3,418,178
Vertex Pharmaceuticals, Inc. *		29,698		9,356,949
Viatris, Inc.		136,711		1,315,160
Waters Corp. *		7,035		2,178,247
West Pharmaceutical Services, Inc.		8,531		2,955,736
Zimmer Biomet Holdings, Inc.		23,807		3,075,864
Zoetis, Inc.		53,839		8,960,963
				849,305,468
Energy - 4.8%
APA Corp.		37,604		1,356,000
Baker Hughes Co.		116,759		3,369,665
Chevron Corp.		205,496		33,528,727
ConocoPhillips		141,553		14,043,473
Coterra Energy, Inc.		89,891		2,205,925
Devon Energy Corp.		75,961		3,844,386
Diamondback Energy, Inc.		21,229		2,869,524
Enphase Energy, Inc. *		15,774		3,316,957
EOG Resources, Inc.		67,853		7,777,989
EQT Corp.		41,200		1,314,692
Exxon Mobil Corp.		475,693		52,164,494
First Solar, Inc. *		11,722		2,549,535
Halliburton Co.		104,435		3,304,323
Hess Corp.		32,053		4,241,894
Kinder Morgan, Inc.		228,518		4,001,350
Marathon Oil Corp.		74,736		1,790,675
Marathon Petroleum Corp.		52,818		7,121,451
Occidental Petroleum Corp.		83,686		5,224,517
ONEOK, Inc.		50,686		3,220,589
Phillips 66		53,827		5,456,981
Pioneer Natural Resources Co.		27,446		5,605,571
Schlumberger NV		164,054		8,055,052
SolarEdge Technologies, Inc. *		6,567		1,996,040
Targa Resources Corp.		26,814		1,956,081
Valero Energy Corp.		43,455		6,066,318
Williams Cos., Inc.		141,386		4,221,786
				190,603,995
Financial - 14.0%
Aflac, Inc.		65,171		4,204,833
Alexandria Real Estate Equities, Inc. REIT		18,195		2,285,110
Allstate Corp.		30,219		3,348,567
American Express Co.		68,773		11,344,106
American International Group, Inc.		83,873		4,223,844
American Tower Corp. REIT		53,785		10,990,427
Ameriprise Financial, Inc.		12,318		3,775,467
Aon PLC Class A		23,658		7,459,131

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

88

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Arch Capital Group Ltd. *		43,160		$2,929,269
Arthur J Gallagher & Co.		24,500		4,687,095
Assurant, Inc.		5,817		698,447
AvalonBay Communities, Inc. REIT		16,004		2,689,632
Bank of America Corp.		806,242		23,058,521
Bank of New York Mellon Corp.		84,966		3,860,855
Berkshire Hathaway, Inc. Class B *		208,127		64,263,374
BlackRock, Inc.		17,299		11,575,107
Boston Properties, Inc. REIT		15,602		844,380
Brown & Brown, Inc.		26,420		1,517,036
Camden Property Trust REIT		12,249		1,284,185
Capital One Financial Corp.		44,154		4,245,849
Cboe Global Markets, Inc.		11,891		1,596,248
CBRE Group, Inc. Class A *		36,618		2,666,157
Charles Schwab Corp.		176,197		9,229,199
Chubb Ltd.		47,945		9,309,960
Cincinnati Financial Corp.		17,742		1,988,523
Citigroup, Inc.		223,737		10,491,028
Citizens Financial Group, Inc.		58,508		1,776,888
CME Group, Inc.		41,554		7,958,422
Comerica, Inc.		16,559		718,992
Crown Castle, Inc. REIT		50,018		6,694,409
Digital Realty Trust, Inc. REIT		33,403		3,283,849
Discover Financial Services		31,250		3,088,750
Equinix, Inc. REIT		10,690		7,707,918
Equity Residential REIT		39,346		2,360,760
Essex Property Trust, Inc. REIT		7,361		1,539,480
Everest Re Group Ltd.		4,671		1,672,311
Extra Space Storage, Inc. REIT		15,508		2,526,719
Federal Realty Investment Trust REIT		8,328		823,056
Fifth Third Bancorp		77,136		2,054,903
First Republic Bank		20,463		286,277
Franklin Resources, Inc.		31,577		850,684
Globe Life, Inc.		10,410		1,145,308
Goldman Sachs Group, Inc.		39,118		12,795,889
Hartford Financial Services Group, Inc.		36,853		2,568,286
Healthpeak Properties, Inc. REIT		61,010		1,340,390
Host Hotels & Resorts, Inc. REIT		83,118		1,370,616
Huntington Bancshares, Inc.		169,115		1,894,088
Intercontinental Exchange, Inc.		64,556		6,732,545
Invesco Ltd.		50,174		822,854
Invitation Homes, Inc. REIT		67,588		2,110,773
Iron Mountain, Inc. REIT		33,579		1,776,665
JPMorgan Chase & Co.		338,830		44,152,937
KeyCorp		103,882		1,300,603
Kimco Realty Corp. REIT		74,038		1,445,962
Lincoln National Corp.		18,100		406,707
Loews Corp.		22,736		1,319,143
M&T Bank Corp.		19,815		2,369,280
Marsh & McLennan Cos., Inc.		57,180		9,523,329
Mastercard, Inc. Class A		97,463		35,419,029
MetLife, Inc.		75,462		4,372,268
Mid-America Apartment Communities, Inc. REIT		13,739		2,075,139
Morgan Stanley		150,583		13,221,187
Nasdaq, Inc.		38,864		2,124,695
Northern Trust Corp.		23,614		2,081,102
PNC Financial Services Group, Inc.		45,984		5,844,566
Principal Financial Group, Inc.		25,167		1,870,412
Progressive Corp.		67,565		9,665,849
Prologis, Inc. REIT		106,630		13,304,225
Prudential Financial, Inc.		41,373		3,423,202
Public Storage REIT		18,260		5,517,076
Raymond James Financial, Inc.		21,934		2,045,784
Realty Income Corp. REIT		72,446		4,587,281
Regency Centers Corp. REIT		17,121		1,047,463
Regions Financial Corp.		108,560		2,014,874
SBA Communications Corp. REIT		12,484		3,259,198
Simon Property Group, Inc. REIT		37,767		4,228,771
State Street Corp.		40,333		3,052,805
Synchrony Financial		54,639		1,588,902
T Rowe Price Group, Inc.		25,299		2,856,257
Travelers Cos., Inc.		27,010		4,629,784

	Shares		Value
Truist Financial Corp.		153,973		$5,250,479
UDR, Inc. REIT		36,922		1,516,017
US Bancorp		160,937		5,801,779
Ventas, Inc. REIT		46,222		2,003,724
VICI Properties, Inc. REIT		115,942		3,782,028
Visa, Inc. Class A		187,707		42,320,420
W R Berkley Corp.		23,655		1,472,760
Wells Fargo & Co.		440,171		16,453,592
Welltower, Inc. REIT		54,583		3,913,055
Weyerhaeuser Co. REIT		85,974		2,590,397
Willis Towers Watson PLC		12,490		2,902,426
Zions Bancorp NA		17,603		526,858
				557,748,547
Industrial - 8.0%
3M Co.		63,591		6,684,050
Agilent Technologies, Inc.		34,453		4,766,228
Allegion PLC		10,056		1,073,277
Amcor PLC		175,394		1,995,984
AMETEK, Inc.		26,529		3,855,460
Amphenol Corp. Class A		68,686		5,613,020
AO Smith Corp.		14,802		1,023,558
Ball Corp.		35,791		1,972,442
Boeing Co. *		64,960		13,799,453
Carrier Global Corp.		95,845		4,384,909
Caterpillar, Inc.		60,115		13,756,717
CH Robinson Worldwide, Inc.		13,856		1,376,871
CSX Corp.		243,524		7,291,109
Deere & Co.		31,323		12,932,640
Dover Corp.		16,269		2,471,912
Eaton Corp. PLC		45,941		7,871,531
Emerson Electric Co.		66,488		5,793,764
Expeditors International of Washington, Inc.		18,108		1,994,053
FedEx Corp.		26,899		6,146,153
Fortive Corp.		40,754		2,778,200
Garmin Ltd.		17,915		1,807,982
Generac Holdings, Inc. *		7,119		768,923
General Dynamics Corp.		25,995		5,932,319
General Electric Co.		125,830		12,029,348
Honeywell International, Inc.		77,181		14,750,833
Howmet Aerospace, Inc.		43,244		1,832,248
Huntington Ingalls Industries, Inc.		4,604		953,120
IDEX Corp.		8,858		2,046,464
Illinois Tool Works, Inc.		32,068		7,806,955
Ingersoll Rand, Inc.		45,835		2,666,680
Jacobs Solutions, Inc.		14,550		1,709,770
JB Hunt Transport Services, Inc.		9,458		1,659,501
Johnson Controls International PLC		79,929		4,813,324
Keysight Technologies, Inc. *		20,360		3,287,733
L3Harris Technologies, Inc.		22,119		4,340,633
Lockheed Martin Corp.		26,563		12,557,127
Martin Marietta Materials, Inc.		7,051		2,503,528
Masco Corp.		26,949		1,339,904
Mettler-Toledo International, Inc. *		2,573		3,937,230
Mohawk Industries, Inc. *		5,906		591,899
Nordson Corp.		5,993		1,332,004
Norfolk Southern Corp.		26,185		5,551,220
Northrop Grumman Corp.		16,619		7,673,325
Old Dominion Freight Line, Inc.		10,422		3,552,234
Otis Worldwide Corp.		47,924		4,044,786
Packaging Corp. of America		10,504		1,458,270
Parker-Hannifin Corp.		14,870		4,997,956
Pentair PLC		18,808		1,039,518
Raytheon Technologies Corp.		169,225		16,572,204
Republic Services, Inc.		23,790		3,216,884
Rockwell Automation, Inc.		13,259		3,890,854
Sealed Air Corp.		16,000		734,560
Snap-on, Inc.		6,242		1,541,087
Stanley Black & Decker, Inc.		16,912		1,362,769
TE Connectivity Ltd.		36,570		4,796,155
Teledyne Technologies, Inc. *		5,427		2,427,823

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

89

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EQUITY INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Textron, Inc.		24,771		$1,749,576
Trane Technologies PLC		26,237		4,827,083
TransDigm Group, Inc.		5,992		4,416,404
Trimble, Inc. *		28,669		1,502,829
Union Pacific Corp.		70,798		14,248,805
United Parcel Service, Inc. Class B		84,306		16,354,521
Vulcan Materials Co.		15,124		2,594,673
Waste Management, Inc.		42,485		6,932,277
Westinghouse Air Brake Technologies Corp.		21,313		2,153,892
Westrock Co.		31,377		956,057
Xylem, Inc.		20,402		2,136,089
				316,980,707
Technology - 25.1%
Accenture PLC Class A		72,745		20,791,249
Activision Blizzard, Inc.		82,269		7,041,404
Adobe, Inc. *		52,895		20,384,146
Advanced Micro Devices, Inc. *		186,252		18,254,559
Akamai Technologies, Inc. *		18,882		1,478,461
Analog Devices, Inc.		58,372		11,512,126
ANSYS, Inc. *		9,838		3,274,086
Apple, Inc.		1,718,019		283,301,333
Applied Materials, Inc.		97,196		11,938,585
Autodesk, Inc. *		25,050		5,214,408
Broadcom, Inc.		48,272		30,968,419
Broadridge Financial Solutions, Inc.		13,944		2,043,772
Cadence Design Systems, Inc. *		31,688		6,657,332
Ceridian HCM Holding, Inc. *		17,149		1,255,650
Cognizant Technology Solutions Corp. Class A		58,586		3,569,645
DXC Technology Co. *		27,250		696,510
Electronic Arts, Inc.		29,986		3,611,814
EPAM Systems, Inc. *		6,682		1,997,918
Fair Isaac Corp. *		2,906		2,042,017
Fidelity National Information Services, Inc.		68,619		3,728,070
Fiserv, Inc. *		73,356		8,291,429
Fortinet, Inc. *		75,410		5,011,749
Hewlett Packard Enterprise Co.		147,770		2,353,976
HP, Inc.		100,376		2,946,036
Intel Corp.		477,888		15,612,601
International Business Machines Corp.		104,441		13,691,171
Intuit, Inc.		32,451		14,467,629
Jack Henry & Associates, Inc.		8,352		1,258,813
KLA Corp.		16,007		6,389,514
Lam Research Corp.		15,587		8,262,980
Leidos Holdings, Inc.		16,405		1,510,244
Microchip Technology, Inc.		63,279		5,301,515
Micron Technology, Inc.		124,856		7,533,811
Microsoft Corp.		859,875		247,901,963
Monolithic Power Systems, Inc.		5,170		2,587,792
MSCI, Inc.		9,152		5,122,283
NetApp, Inc.		25,211		1,609,722
NVIDIA Corp.		284,168		78,933,345
NXP Semiconductors NV (China)		29,750		5,547,631
ON Semiconductor Corp. *		50,019		4,117,564
Oracle Corp.		177,532		16,496,273
Paychex, Inc.		37,377		4,283,030
Paycom Software, Inc. *		5,716		1,737,721
PTC, Inc. *		11,906		1,526,706
Qorvo, Inc. *		12,111		1,230,114
QUALCOMM, Inc.		128,800		16,432,304
Roper Technologies, Inc.		12,251		5,398,893
Salesforce, Inc. *		115,515		23,077,587
Seagate Technology Holdings PLC		21,636		1,430,572
ServiceNow, Inc. *		23,450		10,897,684
Skyworks Solutions, Inc.		18,644		2,199,619
Synopsys, Inc. *		17,607		6,800,704
Take-Two Interactive Software, Inc. *		18,803		2,243,198
Teradyne, Inc.		18,041		1,939,588
Texas Instruments, Inc.		104,681		19,471,713
Tyler Technologies, Inc. *		4,946		1,754,049
Western Digital Corp. *		37,898		1,427,618
Zebra Technologies Corp. Class A *		5,848		1,859,664
				998,420,309

	Shares		Value
Utilities - 2.9%
AES Corp.		75,668		$1,822,085
Alliant Energy Corp.		28,136		1,502,462
Ameren Corp.		29,641		2,560,686
American Electric Power Co., Inc.		59,359		5,401,075
American Water Works Co., Inc.		22,291		3,265,409
Atmos Energy Corp.		16,538		1,858,210
CenterPoint Energy, Inc.		71,434		2,104,446
CMS Energy Corp.		34,342		2,107,912
Consolidated Edison, Inc.		41,459		3,966,383
Constellation Energy Corp.		37,176		2,918,316
Dominion Energy, Inc.		96,256		5,381,673
DTE Energy Co.		21,893		2,398,159
Duke Energy Corp.		88,947		8,580,717
Edison International		43,214		3,050,476
Entergy Corp.		23,801		2,564,320
Evergy, Inc.		25,703		1,570,967
Eversource Energy		40,278		3,152,156
Exelon Corp.		114,793		4,808,679
FirstEnergy Corp.		62,744		2,513,525
NextEra Energy, Inc.		229,548		17,693,560
NiSource, Inc.		46,075		1,288,257
NRG Energy, Inc.		27,231		933,751
PG&E Corp. *		186,482		3,015,414
Pinnacle West Capital Corp.		13,040		1,033,290
PPL Corp.		86,766		2,411,227
Public Service Enterprise Group, Inc.		57,772		3,607,861
Sempra Energy		36,419		5,505,096
Southern Co.		125,759		8,750,311
WEC Energy Group, Inc.		35,918		3,404,667
Xcel Energy, Inc.		63,216		4,263,287
				113,434,377
Total Common Stocks (Cost $2,360,374,626)				3,967,057,916
	Principal Amount
SHORT-TERM INVESTMENT - 0.2%
Repurchase Agreement - 0.2%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $9,608,410; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $9,796,989)		$9,604,848		9,604,848
Total Short-Term Investment (Cost $9,604,848)				9,604,848
TOTAL INVESTMENTS - 100.0% (Cost $2,369,979,474)				3,976,662,764
DERIVATIVES - 0.0%				579,257
OTHER ASSETS & LIABILITIES, NET - 0.0%				1,286,058
NET ASSETS - 100.0%				$3,978,528,079

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

90

PACIFIC SELECT FUND

EQUITY INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month	Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
S&P 500 E-Mini Index	06/23		58		$11,420,218		$11,999,475		$579,257

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$3,967,057,916		$3,967,057,916		$-		$-
	Short-Term Investment		9,604,848		-		9,604,848		-
	Derivatives:
	Equity Contracts Futures		579,257		579,257		-		-
	Total		$3,977,242,021		$3,967,637,173		$9,604,848		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

91

PACIFIC SELECT FUND

FOCUSED GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 98.0%
Basic Materials - 3.9%
Freeport-McMoRan, Inc.		278,277		$11,384,312
Linde PLC		52,051		18,501,007
Sherwin-Williams Co.		48,005		10,790,084
				40,675,403
Communications - 12.2%
Alphabet, Inc. Class C *		216,346		22,499,984
Amazon.com, Inc. *		548,226		56,626,263
Booking Holdings, Inc. *		10,043		26,638,154
Meta Platforms, Inc. Class A *		98,707		20,919,962
				126,684,363
Consumer, Cyclical - 9.7%
Caesars Entertainment, Inc. *		216,740		10,579,079
Core & Main, Inc. Class A *		1,231,121		28,438,895
LVMH Moet Hennessy Louis Vuitton SE (France)		24,059		22,083,956
NIKE, Inc. Class B		109,557		13,436,071
Rivian Automotive, Inc. Class A *		192,099		2,973,693
TJX Cos., Inc.		305,448		23,934,905
				101,446,599
Consumer, Non-Cyclical - 15.6%
AbbVie, Inc.		203,998		32,511,161
Apellis Pharmaceuticals, Inc. *		122,123		8,055,233
Argenx SE ADR * (Netherlands)		15,294		5,698,239
CoStar Group, Inc. *		420,851		28,975,591
Danaher Corp.		82,941		20,904,450
Horizon Therapeutics PLC *		280,396		30,602,419
Illumina, Inc. *		82,639		19,217,699
Teleflex, Inc.		63,370		16,052,255
				162,017,047
Financial - 10.2%
American Tower Corp. REIT		129,558		26,473,882
Charles Schwab Corp.		176,313		9,235,275
Cullen/Frost Bankers, Inc.		126,584		13,334,358
Mastercard, Inc. Class A		85,190		30,958,898
Visa, Inc. Class A		114,280		25,765,569
				105,767,982
Industrial - 8.8%
Crown Holdings, Inc.		334,083		27,632,005
Deere & Co.		82,547		34,082,005
Howmet Aerospace, Inc.		709,003		30,040,457
				91,754,467
Technology - 37.6%
Advanced Micro Devices, Inc. *		445,417		43,655,320
Apple, Inc.		523,174		86,271,393
ASML Holding NV (Netherlands)		44,584		30,348,775
Atlassian Corp. Class A *		81,257		13,908,761
Microsoft Corp.		424,658		122,428,901
NVIDIA Corp.		127,159		35,320,955
Texas Instruments, Inc.		137,367		25,551,636
Workday, Inc. Class A *		165,111		34,102,026
				391,587,767
Total Common Stocks (Cost $977,499,132)				1,019,933,628

	Principal Amount		Value
SHORT-TERM INVESTMENT - 2.1%
U.S. Government Agency Issue - 2.1%
Federal Home Loan Mortgage Corp. 0.000% due 04/03/23		$21,800,000		$21,800,000
Total U.S. Government Agency Issue (Cost $21,795,277)				21,800,000
TOTAL INVESTMENTS - 100.1% (Cost $999,294,409)				1,041,733,628
OTHER ASSETS & LIABILITIES, NET - (0.1%)				(1,001,418	)
NET ASSETS - 100.0%				$1,040,732,210

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

92

PACIFIC SELECT FUND

FOCUSED GROWTH PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Basic Materials		$40,675,403		$40,675,403		$-		$-
	Communications		126,684,363		126,684,363		-		-
	Consumer, Cyclical		101,446,599		79,362,643		22,083,956		-
	Consumer, Non-Cyclical		162,017,047		162,017,047		-		-
	Financial		105,767,982		105,767,982		-		-
	Industrial		91,754,467		91,754,467		-		-
	Technology		391,587,767		391,587,767		-		-
	Total Common Stocks		1,019,933,628		997,849,672		22,083,956		-
	Short-Term Investment		21,800,000		-		21,800,000		-
	Total		$1,041,733,628		$997,849,672		$43,883,956		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

93

PACIFIC SELECT FUND

GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 98.3%
Basic Materials - 3.5%
Air Products & Chemicals, Inc.		60,747		$17,447,146
Linde PLC		48,157		17,116,924
Sherwin-Williams Co.		58,973		13,255,361
				47,819,431
Communications - 11.5%
Alphabet, Inc. Class A *		662,717		68,743,635
Alphabet, Inc. Class C *		181,282		18,853,328
Amazon.com, Inc. *		645,286		66,651,591
Match Group, Inc. *		102,934		3,951,636
				158,200,190
Consumer, Cyclical - 4.6%
Chipotle Mexican Grill, Inc. *		4,209		7,190,193
Dollar Tree, Inc. *		37,408		5,369,918
Hilton Worldwide Holdings, Inc.		115,581		16,281,895
Lululemon Athletica, Inc. *		10,033		3,653,918
LVMH Moet Hennessy Louis Vuitton SE		21,272		19,525,746
O’Reilly Automotive, Inc. *		13,497		11,458,683
				63,480,353
Consumer, Non-Cyclical - 20.0%
Abbott Laboratories		139,962		14,172,552
Becton Dickinson & Co.		43,813		10,845,470
Block, Inc. *		56,666		3,890,121
Boston Scientific Corp. *		558,261		27,929,798
Colgate-Palmolive Co.		105,358		7,917,654
CoStar Group, Inc. *		212,939		14,660,850
Danaher Corp.		70,871		17,862,327
Equifax, Inc.		43,126		8,747,678
Estee Lauder Cos., Inc. Class A		80,903		19,939,353
Gartner, Inc. *		31,339		10,209,306
ICON PLC *		54,767		11,697,683
Regeneron Pharmaceuticals, Inc. *		15,643		12,853,384
STERIS PLC		32,642		6,243,762
Thermo Fisher Scientific, Inc.		51,102		29,453,660
TransUnion		51,453		3,197,289
UnitedHealth Group, Inc.		40,435		19,109,177
Verisk Analytics, Inc.		110,790		21,256,169
Vertex Pharmaceuticals, Inc. *		72,240		22,760,657
Zoetis, Inc.		81,568		13,576,178
				276,323,068
Energy - 1.4%
Enphase Energy, Inc. *		10,540		2,216,351
EOG Resources, Inc.		56,496		6,476,136
Hess Corp.		77,179		10,213,869
				18,906,356
Financial - 11.8%
American Express Co.		25,670		4,234,267
American Tower Corp. REIT		75,785		15,485,907
Aon PLC Class A		75,170		23,700,349
Arthur J Gallagher & Co.		34,994		6,694,702
CME Group, Inc.		57,866		11,082,496
Mastercard, Inc. Class A		147,216		53,499,767
Visa, Inc. Class A		214,794		48,427,455
				163,124,943
Industrial - 8.8%
Agilent Technologies, Inc.		33,573		4,644,489
AMETEK, Inc.		121,490		17,656,142
Amphenol Corp. Class A		121,242		9,907,896

	Shares		Value
Canadian Pacific Railway Ltd. (NYSE)		163,649	$	12,591,154
Caterpillar, Inc.		19,134		4,378,625
Eaton Corp. PLC		78,405		13,433,913
Howmet Aerospace, Inc.		159,317		6,750,261
Johnson Controls International PLC		252,910		15,230,240
Martin Marietta Materials, Inc.		13,358		4,742,891
Rockwell Automation, Inc.		34,591		10,150,729
Vulcan Materials Co.		132,187		22,678,002
				122,164,342
Technology - 36.7%
Accenture PLC Class A		14,191		4,055,930
Adobe, Inc. *		62,278		24,000,073
Advanced Micro Devices, Inc. *		107,024		10,489,422
Apple, Inc.		447,987		73,873,056
Applied Materials, Inc.		59,738		7,337,619
ASML Holding NV		29,623		20,164,672
Autodesk, Inc. *		18,381		3,826,189
Black Knight, Inc. *		41,861		2,409,519
Cadence Design Systems, Inc. *		78,052		16,397,945
Electronic Arts, Inc.		90,035		10,844,716
Intuit, Inc.		68,242		30,424,331
KLA Corp.		14,096		5,626,700
Lam Research Corp.		22,903		12,141,338
Microsoft Corp.		574,390		165,596,637
MSCI, Inc.		56,704		31,736,662
NVIDIA Corp.		197,603		54,888,185
ServiceNow, Inc. *		32,277		14,999,767
Synopsys, Inc. *		24,663		9,526,084
Take-Two Interactive Software, Inc. *		45,580		5,437,694
Veeva Systems, Inc. Class A *		12,292		2,259,147
				506,035,686
Total Common Stocks (Cost $1,064,020,687)				1,356,054,369
	Principal Amount
SHORT-TERM INVESTMENT - 1.8%
Repurchase Agreement - 1.8%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $24,713,419; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $25,198,386)		$24,704,258		24,704,258
Total Short-Term Investment (Cost $24,704,258)				24,704,258
TOTAL INVESTMENTS - 100.1% (Cost $1,088,724,945)				1,380,758,627
OTHER ASSETS & LIABILITIES, NET - (0.1%)				(1,321,896	)
NET ASSETS - 100.0%				$1,379,436,731

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

94

PACIFIC SELECT FUND

GROWTH PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Basic Materials		$47,819,431		$47,819,431		$-		$-
	Communications		158,200,190		158,200,190		-		-
	Consumer, Cyclical		63,480,353		43,954,607		19,525,746		-
	Consumer, Non-Cyclical		276,323,068		276,323,068		-		-
	Energy		18,906,356		18,906,356		-		-
	Financial		163,124,943		163,124,943		-		-
	Industrial		122,164,342		122,164,342		-		-
	Technology		506,035,686		506,035,686		-		-
	Total Common Stocks		1,356,054,369		1,336,528,623		19,525,746		-
	Short-Term Investment		24,704,258		24,704,258		-		-
	Total		$1,380,758,627		$1,361,232,881		$19,525,746		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

95

PACIFIC SELECT FUND

HEDGED EQUITY PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 98.6%
Basic Materials - 2.5%
Air Products & Chemicals, Inc.		980		$281,466
Celanese Corp.		996		108,454
Dow, Inc.		9,351		512,622
DuPont de Nemours, Inc. ‡		2,194		157,463
Eastman Chemical Co. ‡		5,190		437,725
Freeport-McMoRan, Inc.		5,456		223,205
Linde PLC		3,109		1,105,063
LyondellBasell Industries NV Class A		2,592		243,363
Nucor Corp.		1,678		259,201
PPG Industries, Inc. ‡		4,740		633,169
				3,961,731
Communications - 12.0%
Alphabet, Inc. Class A * ‡		30,886		3,203,805
Alphabet, Inc. Class C * ‡		23,160		2,408,640
Amazon.com, Inc. * ‡		47,915		4,949,140
AT&T, Inc.		2,365		45,526
Booking Holdings, Inc. * ‡		380		1,007,916
Charter Communications, Inc. Class A * ‡		2,417		864,343
Comcast Corp. Class A ‡		33,160		1,257,096
Corning, Inc.		5,806		204,836
Expedia Group, Inc. *		4,722		458,176
Meta Platforms, Inc. Class A * ‡		12,536		2,656,880
Motorola Solutions, Inc.		1,312		375,403
Netflix, Inc. * ‡		2,778		959,743
T-Mobile US, Inc. * ‡		3,436		497,670
Uber Technologies, Inc. *		5,133		162,716
				19,051,890
Consumer, Cyclical - 8.7%
Aptiv PLC *		1,994		223,707
AutoNation, Inc. *		1,978		265,764
AutoZone, Inc. *		329		808,731
Best Buy Co., Inc. ‡		6,666		521,748
Burlington Stores, Inc. *		1,370		276,877
Chipotle Mexican Grill, Inc. *		548		936,143
Costco Wholesale Corp. ‡		2,416		1,200,438
Domino’s Pizza, Inc.		588		193,964
Home Depot, Inc. ‡		2,557		754,622
Lennar Corp. Class A ‡		3,420		359,476
LKQ Corp.		1,682		95,470
Lowe’s Cos., Inc. ‡		7,883		1,576,364
Magna International, Inc. (Canada)		1,178		63,106
Marriott International, Inc. Class A		2,997		497,622
McDonald’s Corp. ‡		2,674		747,677
NIKE, Inc. Class B ‡		6,994		857,744
O’Reilly Automotive, Inc. *		492		417,698
Royal Caribbean Cruises Ltd. *		954		62,296
Southwest Airlines Co.		4,175		135,855
Tesla, Inc. * ‡		11,742		2,435,995
TJX Cos., Inc. ‡		6,004		470,473
Toll Brothers, Inc.		3,303		198,279
Whirlpool Corp.		320		42,246
Yum! Brands, Inc.		5,580		737,006
				13,879,301
Consumer, Non-Cyclical - 20.2%
Abbott Laboratories ‡		8,883		899,493
AbbVie, Inc. ‡		13,686		2,181,138
Altria Group, Inc. ‡		5,663		252,683
Avery Dennison Corp.		636		113,799
Baxter International, Inc.		9,823		398,421
Biogen, Inc. *		1,869		519,638
BioMarin Pharmaceutical, Inc. *		1,417		137,789

	Shares		Value
Booz Allen Hamilton Holding Corp.		1,312		$121,609
Boston Scientific Corp. * ‡		15,419		771,413
Bristol-Myers Squibb Co. ‡		21,478		1,488,640
Centene Corp. * ‡		7,168		453,089
Cintas Corp.		619		286,399
Coca-Cola Co.		31,272		1,939,802
Colgate-Palmolive Co. ‡		12,235		919,460
Constellation Brands, Inc. Class A ‡		2,276		514,126
CVS Health Corp.		3,431		254,958
Danaher Corp. ‡		3,358		846,350
Dexcom, Inc. *		1,792		208,195
Elevance Health, Inc. ‡		1,869		859,385
Eli Lilly & Co. ‡		4,180		1,435,496
FleetCor Technologies, Inc. *		2,761		582,157
Humana, Inc.		904		438,856
Intuitive Surgical, Inc. * ‡		2,833		723,747
Johnson & Johnson ‡		8,324		1,290,220
Kimberly-Clark Corp. ‡		3,385		454,335
McKesson Corp.		934		332,551
Medtronic PLC		6,715		541,363
Merck & Co., Inc. ‡		9,815		1,044,218
Mondelez International, Inc. Class A ‡		6,451		449,764
Monster Beverage Corp. *		3,545		191,465
Neurocrine Biosciences, Inc. *		1,311		132,699
PepsiCo, Inc. ‡		7,571		1,380,193
Pfizer, Inc. ‡		9,928		405,062
Philip Morris International, Inc. ‡		5,046		490,724
Procter & Gamble Co. ‡		8,457		1,257,471
Regeneron Pharmaceuticals, Inc. * ‡		1,254		1,030,374
ResMed, Inc.		215		47,083
S&P Global, Inc. ‡		2,177		750,564
Sarepta Therapeutics, Inc. *		1,438		198,200
Stryker Corp.		1,172		334,571
Thermo Fisher Scientific, Inc.		3,198		1,843,231
UnitedHealth Group, Inc. ‡		5,390		2,547,260
Vertex Pharmaceuticals, Inc. * ‡		3,021		951,826
				32,019,817
Energy - 4.5%
Baker Hughes Co.		8,084		233,304
Chevron Corp. ‡		4,082		666,019
ConocoPhillips ‡		12,613		1,251,336
Diamondback Energy, Inc. ‡		6,583		889,824
EOG Resources, Inc. ‡		9,608		1,101,365
Exxon Mobil Corp. ‡		23,987		2,630,415
Marathon Oil Corp.		13,391		320,848
Phillips 66		1,072		108,679
				7,201,790
Financial - 14.6%
American Express Co. ‡		3,802		627,140
Bank of America Corp.		44,685		1,277,991
Berkshire Hathaway, Inc. Class B * ‡		7,166		2,212,646
Capital One Financial Corp. ‡		1,694		162,895
Charles Schwab Corp.		3,188		166,987
Citigroup, Inc. ‡		11,335		531,498
CME Group, Inc.		5,365		1,027,505
Equinix, Inc. REIT		667		480,934
Equity LifeStyle Properties, Inc. REIT		4,630		310,812
Fifth Third Bancorp		12,369		329,510
Globe Life, Inc.		2,844		312,897
Goldman Sachs Group, Inc.		577		188,742
Host Hotels & Resorts, Inc. REIT		3,988		65,762
Intercontinental Exchange, Inc. ‡		6,847		714,074
M&T Bank Corp.		1,316		157,354
Mastercard, Inc. Class A ‡		6,805		2,473,005
MetLife, Inc.		1,522		88,185
Morgan Stanley ‡		7,662		672,724
Progressive Corp. ‡		10,602		1,516,722
Prologis, Inc. REIT		9,266		1,156,119
Prudential Financial, Inc.		1,717		142,064

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

96

PACIFIC SELECT FUND

HEDGED EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Raymond James Financial, Inc.		6,015		$561,019
SBA Communications Corp. REIT		2,557		667,556
State Street Corp. ‡		4,333		327,965
Sun Communities, Inc. REIT ‡		2,726		384,039
Travelers Cos., Inc. ‡		5,368		920,129
Truist Financial Corp. ‡		19,494		664,745
UDR, Inc. REIT		9,078		372,743
US Bancorp		27,703		998,693
Ventas, Inc. REIT		11,406		494,450
Visa, Inc. Class A ‡		8,253		1,860,721
Wells Fargo & Co. ‡		36,440		1,362,127
				23,229,753
Industrial - 8.1%
CSX Corp.		9,937		297,514
Deere & Co. ‡		2,967		1,225,015
Dover Corp.		2,431		369,366
Eaton Corp. PLC		5,705		977,495
FedEx Corp.		1,172		267,790
General Dynamics Corp.		743		169,560
Honeywell International, Inc. ‡		9,349		1,786,781
Howmet Aerospace, Inc.		2,045		86,646
Masco Corp. ‡		6,971		346,598
Norfolk Southern Corp. ‡		2,525		535,300
Otis Worldwide Corp.		7,088		598,227
Parker-Hannifin Corp. ‡		2,446		822,125
Raytheon Technologies Corp. ‡		14,631		1,432,814
Textron, Inc.		9,049		639,131
Trane Technologies PLC		5,714		1,051,262
Union Pacific Corp. ‡		2,816		566,748
United Parcel Service, Inc. Class B ‡		8,317		1,613,415
				12,785,787
Technology - 25.1%
Accenture PLC Class A		4,841		1,383,606
Adobe, Inc. * ‡		3,683		1,419,318
Advanced Micro Devices, Inc. * ‡		12,904		1,264,721
Analog Devices, Inc. ‡		7,840		1,546,205
Apple, Inc. ‡		68,097		11,229,195
Broadcom, Inc.		483		309,864
Cadence Design Systems, Inc. *		1,259		264,503
Cognizant Technology Solutions Corp. Class A		8,898		542,155
DocuSign, Inc. *		1,208		70,427
Intuit, Inc. ‡		2,304		1,027,192
Lam Research Corp. ‡		2,450		1,298,794
Leidos Holdings, Inc. ‡		3,966		365,110
Microsoft Corp. ‡		35,768		10,311,915
NVIDIA Corp. ‡		9,613		2,670,203
NXP Semiconductors NV (China)		7,310		1,363,132
Oracle Corp. ‡		6,966		647,281
Qorvo, Inc. *		1,742		176,935
QUALCOMM, Inc.		535		68,255
Salesforce, Inc. * ‡		2,323		464,089
Seagate Technology Holdings PLC		8,650		571,938
Teradyne, Inc.		3,861		415,096
Texas Instruments, Inc. ‡		10,183		1,894,140
Workday, Inc. Class A * ‡		2,219		458,312
				39,762,386
Utilities - 2.9%
Ameren Corp.		4,536		391,865
CenterPoint Energy, Inc. ‡		15,097		444,758
CMS Energy Corp.		3,038		186,473
Dominion Energy, Inc.		4,724		264,119
NextEra Energy, Inc. ‡		20,392		1,571,815
PG&E Corp. *		36,826		595,476
Public Service Enterprise Group, Inc.		9,223		575,976

	Shares		Value
Sempra Energy		3,341		$505,026
				4,535,508
Total Common Stocks (Cost $153,522,056)				156,427,963
	Principal Amount
SHORT-TERM INVESTMENT - 1.2%
Repurchase Agreement - 1.2%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $1,941,470; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $1,979,597)		$1,940,750		1,940,750
Total Short-Term Investment (Cost $1,940,750)				1,940,750
TOTAL INVESTMENTS - 99.8% (Cost $155,462,806)				158,368,713
DERIVATIVES - 0.0%				10,324
OTHER ASSETS & LIABILITIES, NET - 0.2%				350,732
NET ASSETS - 100.0%				$158,729,769

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

97

PACIFIC SELECT FUND

HEDGED EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month	Number of Contracts	Notional Amount	Value		Unrealized Appreciation (Depreciation)
S&P 500 E-Mini Index	06/23	10	$2,035,659		$2,068,875		$33,216

(b) Purchased options outstanding as of March 31, 2023 were as follows:

Options on Indices

Description

Exercise Price

Expiration Date

Exchange

Number of Contracts

Notional Amount

Cost

Value

Put – S&P 500 Index

$3,885.00

06/30/23

CBOE

388

$150,738,000

$2,716,388

$2,716,000

Total Purchased Options

$2,716,388

$2,716,000

(c) Premiums received and value of written options outstanding as of March 31, 2023 were as follows:

Options on Indices
Description	Exercise Price		Expiration Date		Exchange	Number of Contracts		Notional Amount		Premium		Value
Call - S&P 500 Index		$4,320.00		06/30/23	CBOE		388		$167,616,000		$2,244,804		($2,244,192	)
Put - S&P 500 Index		3,280.00		06/30/23	CBOE		388		127,264,000		494,312		(494,700	)
Total Written Options											$2,739,116		($2,738,892	)

(d) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023			Level 1 Quoted Price		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$156,427,963			$156,427,963		$-			$-
	Short-Term Investment		1,940,750			-		1,940,750			-
	Derivatives:
	Equity Contracts
	Futures		33,216			33,216		-			-
	Purchased Options		2,716,000			-		2,716,000			-
	Total Assets		161,117,929			156,461,179		4,656,750			-
Liabilities	Derivatives
	Equity Contracts
	Written Options		(2,738,892	)		-		(2,738,892	)		-
	Total Liabilities		(2,738,892	)		-		(2,738,892	)		-
	Total		$158,379,037			$156,461,179		$1,917,858			$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

98

PACIFIC SELECT FUND

LARGE-CAP CORE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 99.6%
Basic Materials - 2.7%
Eastman Chemical Co.		132,958		$11,213,678
PPG Industries, Inc.		174,872		23,359,402
				34,573,080
Communications - 10.5%
Alphabet, Inc. Class A *		504,385		52,319,856
Amazon.com, Inc. *		455,119		47,009,241
Meta Platforms, Inc. Class A *		60,963		12,920,498
Uber Technologies, Inc. *		345,541		10,953,650
Verizon Communications, Inc.		301,094		11,709,546
				134,912,791
Consumer, Cyclical - 8.8%
Dollar General Corp.		51,298		10,796,177
Lowe’s Cos., Inc.		150,782		30,151,877
McDonald’s Corp.		106,484		29,773,991
NIKE, Inc. Class B		129,405		15,870,229
Tesla, Inc. *		67,750		14,055,415
TJX Cos., Inc.		150,409		11,786,049
				112,433,738
Consumer, Non-Cyclical - 19.4%
AbbVie, Inc.		274,018		43,670,249
Biogen, Inc. *		42,891		11,924,985
Boston Scientific Corp. *		231,786		11,596,254
Bristol-Myers Squibb Co.		463,204		32,104,669
Coca-Cola Co.		553,586		34,338,939
Regeneron Pharmaceuticals, Inc. *		35,998		29,578,477
S&P Global, Inc.		74,588		25,715,705
UnitedHealth Group, Inc.		90,638		42,834,612
Vertex Pharmaceuticals, Inc. *		56,548		17,816,578
				249,580,468
Energy - 5.2%
Baker Hughes Co.		932,155		26,901,993
ConocoPhillips		182,626		18,118,325
Pioneer Natural Resources Co.		109,244		22,311,995
				67,332,313
Financial - 13.7%
American Express Co.		84,979		14,017,286
Ameriprise Financial, Inc.		46,200		14,160,300
Mastercard, Inc. Class A		83,816		30,459,573
Morgan Stanley		335,255		29,435,389
Progressive Corp.		110,935		15,870,361
Prologis, Inc. REIT		256,690		32,027,211
Truist Financial Corp.		236,011		8,047,975
US Bancorp		215,293		7,761,313
Wells Fargo & Co.		651,956		24,370,115
				176,149,523
Industrial - 9.8%
Deere & Co.		65,963		27,234,803
Eaton Corp. PLC		153,896		26,368,541
Norfolk Southern Corp.		90,511		19,188,332
Northrop Grumman Corp.		52,315		24,154,882
Trane Technologies PLC		93,058		17,120,811
Vulcan Materials Co.		71,585		12,281,122
				126,348,491

	Shares		Value
Technology - 24.7%
Advanced Micro Devices, Inc. *		92,373		$9,053,478
Apple, Inc.		437,289		72,108,956
ASML Holding NV (Netherlands)		6,689		4,553,269
Intuit, Inc.		36,666		16,346,803
Leidos Holdings, Inc.		67,390		6,203,923
Microsoft Corp.		403,947		116,457,920
NVIDIA Corp.		109,694		30,469,702
NXP Semiconductors NV (China)		203,663		37,978,058
Oracle Corp.		183,611		17,061,134
Teradyne, Inc.		65,695		7,062,870
				317,296,113
Utilities - 4.8%
NextEra Energy, Inc.		540,292		41,645,708
PG&E Corp. *		829,248		13,408,940
Xcel Energy, Inc.		99,164		6,687,620
				61,742,268
Total Common Stocks (Cost $1,216,229,067)				1,280,368,785
	Principal Amount
SHORT-TERM INVESTMENT - 0.2%
Repurchase Agreement - 0.2%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $2,644,027; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $2,695,941)		$2,643,047		2,643,047
Total Short-Term Investment (Cost $2,643,047)				2,643,047
TOTAL INVESTMENTS - 99.8% (Cost $1,218,872,114)				1,283,011,832
OTHER ASSETS & LIABILITIES, NET - 0.2%				3,067,424
NET ASSETS - 100.0%				$1,286,079,256

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

99

PACIFIC SELECT FUND

LARGE-CAP CORE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$1,280,368,785		$1,280,368,785		$-		$-
	Short-Term Investment		2,643,047		-		2,643,047		-
	Total		$1,283,011,832		$1,280,368,785		$2,643,047		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

100

PACIFIC SELECT FUND

LARGE-CAP GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 99.9%
Basic Materials - 1.1%
Sherwin-Williams Co.		47,648		$10,709,841
Communications - 15.3%
Alphabet, Inc. Class A *		444,288		46,085,994
Amazon.com, Inc. *		632,047		65,284,135
Match Group, Inc. *		365,560		14,033,848
Netflix, Inc. *		41,967		14,498,759
Palo Alto Networks, Inc. *		24,852		4,963,939
				144,866,675
Consumer, Cyclical - 11.1%
Chipotle Mexican Grill, Inc. *		7,932		13,550,156
Evolution AB ~ (Sweden)		147,536		19,766,630
LVMH Moet Hennessy Louis Vuitton SE (France)		20,758		19,053,941
NIKE, Inc. Class B		178,886		21,938,579
Ross Stores, Inc.		45,851		4,866,167
Tesla, Inc. *		124,201		25,766,739
				104,942,212
Consumer, Non-Cyclical - 19.2%
Adyen NV * ~ (Netherlands)		4,070		6,485,251
AstraZeneca PLC ADR (United Kingdom)		85,915		5,963,360
Boston Scientific Corp. *		282,795		14,148,234
Cintas Corp.		24,280		11,233,870
Danaher Corp.		77,244		19,468,578
Eli Lilly & Co.		16,402		5,632,775
IDEXX Laboratories, Inc. *		28,934		14,469,315
Intuitive Surgical, Inc. *		68,657		17,539,804
Lonza Group AG (Switzerland)		18,577		11,183,343
S&P Global, Inc.		55,067		18,985,449
Thermo Fisher Scientific, Inc.		22,549		12,996,567
UnitedHealth Group, Inc.		61,216		28,930,069
Zoetis, Inc.		93,790		15,610,408
				182,647,023
Energy - 1.4%
Cheniere Energy, Inc.		73,801		11,631,038
EQT Corp.		58,627		1,870,787
				13,501,825
Financial - 8.3%
Blackstone, Inc.		134,304		11,797,264
Mastercard, Inc. Class A		65,013		23,626,374
Visa, Inc. Class A		190,854		43,029,943
				78,453,581
Industrial - 3.5%
TransDigm Group, Inc.		31,670		23,342,374
Waste Connections, Inc.		69,016		9,598,055
				32,940,429
Technology - 40.0%
Advanced Micro Devices, Inc. *		226,465		22,195,835
Apple, Inc.		499,577		82,380,247
ASML Holding NV (Netherlands)		47,943		32,635,279
BILL Holdings, Inc. *		37,873		3,073,015
Cadence Design Systems, Inc. *		95,296		20,020,737
Intuit, Inc.		89,546		39,922,293
KLA Corp.		46,538		18,576,573
Microsoft Corp.		285,056		82,181,645
MongoDB, Inc. *		8,214		1,914,848
MSCI, Inc.		27,922		15,627,664

	Shares		Value
NVIDIA Corp.		149,553		$ 41,541,337
ServiceNow, Inc. *		41,129		19,113,469
				379,182,942
Total Common Stocks (Cost $815,181,569)				947,244,528
	Principal Amount
SHORT-TERM INVESTMENT - 0.2%
Repurchase Agreement - 0.2%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $1,535,554; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $1,565,760)		$1,534,985		1,534,985
Total Short-Term Investment (Cost $1,534,985)				1,534,985
TOTAL INVESTMENTS - 100.1% (Cost $816,716,554)				948,779,513
OTHER ASSETS & LIABILITIES, NET - (0.1%)				(1,030,735	)
NET ASSETS - 100.0%				$947,748,778

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

101

PACIFIC SELECT FUND

LARGE-CAP GROWTH PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Basic Materials		$10,709,841		$10,709,841		$-		$-
	Communications		144,866,675		144,866,675		-		-
	Consumer, Cyclical		104,942,212		66,121,641		38,820,571		-
	Consumer, Non-Cyclical		182,647,023		164,978,429		17,668,594		-
	Energy		13,501,825		13,501,825		-		-
	Financial		78,453,581		78,453,581		-		-
	Industrial		32,940,429		32,940,429		-		-
	Technology		379,182,942		379,182,942		-		-
	Total Common Stocks		947,244,528		890,755,363		56,489,165		-
	Short-Term Investment		1,534,985		-		1,534,985		-
	Total		$948,779,513		$890,755,363		$58,024,150		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

102

PACIFIC SELECT FUND

LARGE-CAP VALUE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 97.6%
Basic Materials - 3.8%
Air Products & Chemicals, Inc.		91,316		$26,226,868
PPG Industries, Inc.		139,795		18,673,816
				44,900,684
Communications - 13.6%
Alphabet, Inc. Class A *		126,187		13,089,378
Charter Communications, Inc. Class A *		62,737		22,435,379
Cisco Systems, Inc.		578,132		30,221,850
Comcast Corp. Class A		490,577		18,597,774
DISH Network Corp. Class A *		815,304		7,606,786
Meta Platforms, Inc. Class A *		154,644		32,775,249
Motorola Solutions, Inc.		121,795		34,849,203
				159,575,619
Consumer, Cyclical - 1.6%
Home Depot, Inc.		63,998		18,887,090
Consumer, Non-Cyclical - 15.6%
Amgen, Inc.		58,637		14,175,495
Becton Dickinson & Co.		94,191		23,316,040
Elevance Health, Inc.		61,319		28,195,089
Haleon PLC ADR		2,324,454		18,921,056
Johnson & Johnson		133,654		20,716,370
McKesson Corp.		32,643		11,622,540
Merck & Co., Inc.		135,573		14,423,612
PepsiCo, Inc.		103,610		18,888,103
UnitedHealth Group, Inc.		68,416		32,332,717
				182,591,022
Energy - 9.8%
Chevron Corp.		199,716		32,585,663
ConocoPhillips		502,687		49,871,577
Enterprise Products Partners LP		1,240,668		32,133,301
				114,590,541
Financial - 23.1%
American Express Co.		222,123		36,639,189
American Tower Corp. REIT		89,977		18,385,900
Bank of America Corp.		1,304,521		37,309,301
Bank of New York Mellon Corp.		311,245		14,142,973
Berkshire Hathaway, Inc. Class B *		65,510		20,227,523
Charles Schwab Corp.		184,706		9,674,900
JPMorgan Chase & Co.		331,617		43,213,011
Marsh & McLennan Cos., Inc.		110,951		18,478,889
Progressive Corp.		147,348		21,079,605
Travelers Cos., Inc.		95,385		16,349,943
US Bancorp		391,888		14,127,562
Visa, Inc. Class A		90,459		20,394,886
				270,023,682
Industrial - 18.8%
Deere & Co.		86,407		35,675,722
Illinois Tool Works, Inc.		80,162		19,515,439
Martin Marietta Materials, Inc.		41,332		14,675,340
Northrop Grumman Corp.		48,662		22,468,219
Otis Worldwide Corp.		174,415		14,720,626
Raytheon Technologies Corp.		379,049		37,120,269
TE Connectivity Ltd.		268,286		35,185,709
United Parcel Service, Inc. Class B		124,844		24,218,487
Vertiv Holdings Co.		1,183,907		16,941,709
				220,521,520

	Shares		Value
Technology - 5.1%
Intel Corp.		641,038		$ 20,942,711
Microsoft Corp.		44,190		12,739,977
Oracle Corp.		172,400		16,019,408
QUALCOMM, Inc.		73,686		9,400,860
				59,102,956
Utilities - 6.2%
Edison International		317,599		22,419,314
Sempra Energy		330,026		49,886,730
				72,306,044
Total Common Stocks (Cost $829,251,491)				1,142,499,158
	Principal Amount
SHORT-TERM INVESTMENT - 1.8%
Repurchase Agreement - 1.8%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $20,638,689; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $21,043,727)		$20,631,038		20,631,038
Total Short-Term Investment (Cost $20,631,038)				20,631,038
TOTAL INVESTMENTS - 99.4% (Cost $849,882,529)				1,163,130,196
OTHER ASSETS & LIABILITIES, NET - 0.6%				7,132,492
NET ASSETS - 100.0%				$1,170,262,688

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

103

PACIFIC SELECT FUND

LARGE-CAP VALUE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$1,142,499,158		$1,142,499,158		$-		$-
	Short-Term Investment		20,631,038		-		20,631,038		-
	Total		$1,163,130,196		$1,142,499,158		$20,631,038		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

104

PACIFIC SELECT FUND

MID-CAP EQUITY PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 99.5%
Basic Materials - 5.8%
Agnico Eagle Mines Ltd. (Canada)		42,294		$2,155,725
Alamos Gold, Inc. Class A (Canada)		151,257		1,849,873
Albemarle Corp.		23,850		5,271,804
Alcoa Corp.		59,217		2,520,276
CF Industries Holdings, Inc.		35,605		2,581,007
Freeport-McMoRan, Inc.		120,629		4,934,932
Hecla Mining Co.		309,512		1,959,211
Huntsman Corp.		43,088		1,178,888
Mosaic Co.		105,214		4,827,218
Nucor Corp.		35,637		5,504,847
Westlake Corp.		20,842		2,417,255
				35,201,036
Communications - 2.8%
Arista Networks, Inc. *		24,907		4,180,889
Fox Corp. Class A		195,746		6,665,151
Spotify Technology SA *		3,912		522,722
World Wrestling Entertainment, Inc. Class A		34,763		3,172,471
Zillow Group, Inc. Class A *		59,037		2,579,917
				17,121,150
Consumer, Cyclical - 15.5%
Best Buy Co., Inc.		7,266		568,710
Brunswick Corp.		17,792		1,458,944
Casey’s General Stores, Inc.		31,068		6,724,979
Chipotle Mexican Grill, Inc. *		3,322		5,674,939
Copart, Inc. *		27,004		2,030,971
Darden Restaurants, Inc.		17,132		2,658,201
Delta Air Lines, Inc. *		102,496		3,579,160
Dollar General Corp.		2,575		541,934
DR Horton, Inc.		26,750		2,613,207
Floor & Decor Holdings, Inc. Class A *		35,659		3,502,427
Las Vegas Sands Corp. *		125,406		7,204,575
Live Nation Entertainment, Inc. *		45,614		3,192,980
Lululemon Athletica, Inc. *		19,389		7,061,280
Murphy USA, Inc.		18,518		4,778,570
NVR, Inc. *		862		4,803,228
O’Reilly Automotive, Inc. *		6,412		5,443,660
Polaris, Inc.		17,183		1,900,955
Ross Stores, Inc.		20,551		2,181,078
Southwest Airlines Co.		55,469		1,804,961
Texas Roadhouse, Inc.		45,818		4,951,093
Thor Industries, Inc.		6,790		540,756
Tractor Supply Co.		17,079		4,014,248
Ulta Beauty, Inc. *		16,108		8,789,652
Vail Resorts, Inc.		18,539		4,332,194
WW Grainger, Inc.		3,217		2,215,902
YETI Holdings, Inc. *		31,662		1,266,480
				93,835,084
Consumer, Non-Cyclical - 20.3%
Albertsons Cos., Inc. Class A		232,308		4,827,360
Align Technology, Inc. *		22,463		7,505,787
AmerisourceBergen Corp.		27,794		4,450,097
BioMarin Pharmaceutical, Inc. *		80,043		7,783,381
Booz Allen Hamilton Holding Corp.		4,475		414,788
Corteva, Inc.		82,035		4,947,531
CoStar Group, Inc. *		33,225		2,287,541
Darling Ingredients, Inc. *		107,586		6,283,022
Edwards Lifesciences Corp. *		103,411		8,555,192
Exelixis, Inc. *		75,072		1,457,148
FTI Consulting, Inc. *		5,138		1,013,984
Gartner, Inc. *		18,078		5,889,270
Henry Schein, Inc. *		51,528		4,201,593

	Shares		Value
Hershey Co.		23,697		$ 6,028,754
Hormel Foods Corp.		7,565		301,692
Insulet Corp. *		25,208		8,040,344
Kroger Co.		5,763		284,519
Molina Healthcare, Inc. *		4,202		1,123,993
Monster Beverage Corp. *		103,614		5,596,192
Morningstar, Inc.		11,434		2,321,445
Neurocrine Biosciences, Inc. *		17,460		1,767,301
Omnicell, Inc. *		58,803		3,449,972
Quanta Services, Inc.		96,446		16,071,762
Ritchie Bros Auctioneers, Inc. (Canada)		43,657		2,457,453
Service Corp. International		39,085		2,688,266
Tyson Foods, Inc. Class A		87,359		5,182,136
U-Haul Holding Co.		72,187		3,742,896
United Rentals, Inc.		4,130		1,634,489
Vertex Pharmaceuticals, Inc. *		7,907		2,491,259
				122,799,167
Energy - 6.3%
Baker Hughes Co.		207,862		5,998,897
ChampionX Corp.		31,328		849,929
Cheniere Energy, Inc.		28,579		4,504,051
Enphase Energy, Inc. *		14,583		3,066,513
Hess Corp.		64,751		8,569,147
Noble Corp. PLC *		149,046		5,882,846
Pioneer Natural Resources Co.		31,839		6,502,797
Valero Energy Corp.		18,903		2,638,859
				38,013,039
Financial - 15.9%
Agree Realty Corp. REIT		96,134		6,595,754
Arch Capital Group Ltd. *		41,756		2,833,980
Axis Capital Holdings Ltd.		93,306		5,087,043
Brown & Brown, Inc.		85,591		4,914,635
Cboe Global Markets, Inc.		83,726		11,239,378
Citizens Financial Group, Inc.		85,461		2,595,451
Commerce Bancshares, Inc.		65,136		3,800,686
Discover Financial Services		60,863		6,015,699
EastGroup Properties, Inc. REIT		31,303		5,175,012
Evercore, Inc. Class A		32,122		3,706,236
Everest Re Group Ltd.		14,372		5,145,463
First American Financial Corp.		33,222		1,849,137
Healthcare Realty Trust, Inc. REIT		373,001		7,210,109
Host Hotels & Resorts, Inc. REIT		333,287		5,495,903
Kinsale Capital Group, Inc.		8,098		2,430,615
Mid-America Apartment Communities, Inc. REIT		35,711		5,393,789
STAG Industrial, Inc. REIT		312,465		10,567,566
White Mountains Insurance Group Ltd.		4,196		5,779,948
				95,836,404
Industrial - 14.3%
AGCO Corp.		52,660		7,119,632
Agilent Technologies, Inc.		67,127		9,286,349
Builders FirstSource, Inc. *		6,884		611,162
BWX Technologies, Inc.		34,073		2,147,962
Carrier Global Corp.		125,247		5,730,050
Chart Industries, Inc. *		48,709		6,108,109
Eagle Materials, Inc.		31,378		4,604,722
Flex Ltd. *		278,919		6,417,926
Garmin Ltd.		8,057		813,112
Generac Holdings, Inc. *		44,242		4,778,578
Hubbell, Inc.		29,472		7,170,832
Huntington Ingalls Industries, Inc.		11,665		2,414,888
Keysight Technologies, Inc. *		40,626		6,560,287
Knight-Swift Transportation Holdings, Inc.		32,747		1,852,825
L3Harris Technologies, Inc.		7,170		1,407,041
Martin Marietta Materials, Inc.		7,214		2,561,403
Owens Corning		29,281		2,805,120
Textron, Inc.		73,231		5,172,306
Timken Co.		48,352		3,951,325

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

105

PACIFIC SELECT FUND

MID-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
vUniversal Display Corp.		10,931		$ 1,695,726
Vulcan Materials Co.		17,304		2,968,674
				86,178,029
Technology - 13.0%
DocuSign, Inc. *		47,280		2,756,424
DXC Technology Co. *		146,678		3,749,090
Jack Henry & Associates, Inc.		29,680		4,473,370
KLA Corp.		8,601		3,433,261
Microchip Technology, Inc.		22,331		1,870,891
Monolithic Power Systems, Inc.		7,317		3,662,451
ON Semiconductor Corp. *		55,027		4,529,823
Paycom Software, Inc. *		1,978		601,332
Pure Storage, Inc. Class A *		223,765		5,708,245
Skyworks Solutions, Inc.		66,776		7,878,232
Splunk, Inc. *		104,862		10,054,169
Take-Two Interactive Software, Inc. *		28,322		3,378,815
Teradata Corp. *		265,415		10,690,916
Teradyne, Inc.		57,810		6,215,153
Veeva Systems, Inc. Class A *		2,255		414,446
Workday, Inc. Class A *		29,191		6,029,109
Zebra Technologies Corp. Class A *		10,116		3,216,888
				78,662,615
Utilities - 5.6%
CenterPoint Energy, Inc.		469,650		13,835,889
Evergy, Inc.		109,676		6,703,397
WEC Energy Group, Inc.		136,703		12,958,077
				33,497,363
Total Common Stocks (Cost $586,450,403)				601,143,887
	Principal Amount
SHORT-TERM INVESTMENT - 0.9%
Repurchase Agreement - 0.9%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $5,734,801; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $5,847,348)		$5,732,675		5,732,675
Total Short-Term Investment (Cost $5,732,675)				5,732,675
TOTAL INVESTMENTS - 100.4% (Cost $592,183,078)				606,876,562
OTHER ASSETS & LIABILITIES, NET - (0.4%)				(2,491,863	)
NET ASSETS - 100.0%				$604,384,699

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

106

PACIFIC SELECT FUND

MID-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$601,143,887		$601,143,887		$-		$-
	Short-Term Investment		5,732,675		-		5,732,675		-
	Total		$606,876,562		$601,143,887		$5,732,675		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

107

PACIFIC SELECT FUND

MID-CAP GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 99.8%
Communications - 8.3%
Arista Networks, Inc. *		98,285		$16,498,120
Pinterest, Inc. Class A *		836,888		22,821,936
Shutterstock, Inc.		145,205		10,541,883
Trade Desk, Inc. Class A *		264,810		16,129,577
				65,991,516
Consumer, Cyclical - 17.3%
BorgWarner, Inc.		417,652		20,510,890
Copart, Inc. *		151,232		11,374,159
Fastenal Co.		233,989		12,621,367
Floor & Decor Holdings, Inc. Class A *		128,931		12,663,603
Foot Locker, Inc.		222,510		8,831,422
Levi Strauss & Co. Class A		546,685		9,966,067
Lululemon Athletica, Inc. *		35,348		12,873,388
National Vision Holdings, Inc. *		286,025		5,388,711
On Holding AG Class A * (Switzerland)		408,917		12,688,694
Petco Health & Wellness Co., Inc. *		519,731		4,677,579
Pool Corp.		40,507		13,871,217
Vail Resorts, Inc.		55,860		13,053,365
				138,520,462
Consumer, Non-Cyclical - 27.6%
Bio-Techne Corp.		159,560		11,837,756
Brown-Forman Corp. Class B		157,591		10,128,374
Clarivate PLC *		623,310		5,852,881
Cooper Cos., Inc.		11,261		4,204,407
CoStar Group, Inc. *		462,890		31,869,976
Dexcom, Inc. *		240,526		27,944,311
Edwards Lifesciences Corp. *		128,688		10,646,358
Envista Holdings Corp. *		376,206		15,379,301
Genmab AS ADR * (Denmark)		328,452		12,402,348
Intuitive Surgical, Inc. *		56,244		14,368,655
MarketAxess Holdings, Inc.		82,922		32,446,549
Repligen Corp. *		88,325		14,870,397
Seagen, Inc. *		58,527		11,849,962
West Pharmaceutical Services, Inc.		35,435		12,277,164
WillScot Mobile Mini Holdings Corp. *		88,284		4,138,754
				220,217,193
Financial - 1.1%
Kinsale Capital Group, Inc.		29,821		8,950,773
Industrial - 21.4%
Agilent Technologies, Inc.		82,490		11,411,667
AO Smith Corp.		178,434		12,338,711
Coherent Corp. *		327,496		12,471,048
Generac Holdings, Inc. *		89,237		9,638,488
HEICO Corp. Class A		131,988		17,937,169
Howmet Aerospace, Inc.		132,992		5,634,871
IDEX Corp.		47,330		10,934,650
Keysight Technologies, Inc. *		85,502		13,806,863
Lincoln Electric Holdings, Inc.		51,464		8,702,562
Littelfuse, Inc.		37,809		10,136,215
Martin Marietta Materials, Inc.		22,377		7,945,178
Novanta, Inc. *		67,473		10,734,280
Trex Co., Inc. *		265,206		12,907,576
Trimble, Inc. *		227,551		11,928,223
Universal Display Corp.		93,814		14,553,366
				171,080,867
Technology - 24.1%
Crowdstrike Holdings, Inc. Class A *		94,016		12,904,636

	Shares		Value
DocuSign, Inc. *		213,826		$ 12,466,056
DoubleVerify Holdings, Inc. *		92,035		2,774,855
EngageSmart, Inc. *		202,874		3,905,325
HubSpot, Inc. *		19,700		8,446,375
Marvell Technology, Inc.		358,424		15,519,759
Microchip Technology, Inc.		240,676		20,163,835
Monolithic Power Systems, Inc.		52,846		26,451,537
Paycom Software, Inc. *		51,885		15,773,559
Teradyne, Inc.		186,012		19,998,150
Tyler Technologies, Inc. *		46,177		16,376,211
Workday, Inc. Class A *		51,718		10,681,836
Workiva, Inc. *		112,823		11,554,204
Zebra Technologies Corp. Class A *		23,848		7,583,664
ZoomInfo Technologies, Inc. *		330,502		8,166,704
				192,766,706
Total Common Stocks (Cost $727,601,648)				797,527,517
	Principal Amount
SHORT-TERM INVESTMENT - 0.3%
Repurchase Agreement - 0.3%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $2,734,027; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $2,787,678)		$2,733,013		2,733,013
Total Short-Term Investment (Cost $2,733,013)				2,733,013
TOTAL INVESTMENTS - 100.1% (Cost $730,334,661)				800,260,530
OTHER ASSETS & LIABILITIES, NET - (0.1%)				(469,155	)
NET ASSETS - 100.0%				$799,791,375

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

108

PACIFIC SELECT FUND

MID-CAP GROWTH PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$797,527,517		$797,527,517		$-		$-
	Short-Term Investment		2,733,013		-		2,733,013		-
	Total		$800,260,530		$797,527,517		$2,733,013		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

109

PACIFIC SELECT FUND

MID-CAP VALUE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 97.7%
Basic Materials - 4.3%
Axalta Coating Systems Ltd. *		152,404		$4,616,317
DuPont de Nemours, Inc.		98,154		7,044,512
FMC Corp.		41,561		5,075,845
PPG Industries, Inc.		48,750		6,512,025
Valvoline, Inc.		111,504		3,895,950
				27,144,649
Communications - 2.6%
eBay, Inc.		66,211		2,937,782
Expedia Group, Inc. *		42,171		4,091,852
Gen Digital, Inc.		137,737		2,363,567
Interpublic Group of Cos., Inc.		77,772		2,896,229
Nexstar Media Group, Inc.		11,565		1,996,813
TEGNA, Inc.		117,038		1,979,113
				16,265,356
Consumer, Cyclical - 14.8%
Alaska Air Group, Inc. *		81,982		3,439,965
AutoZone, Inc. *		4,680		11,504,142
Boyd Gaming Corp.		25,910		1,661,349
Copart, Inc. *		66,452		4,997,855
Darden Restaurants, Inc.		24,158		3,748,355
Domino’s Pizza, Inc.		5,508		1,816,924
Ferguson PLC		34,633		4,632,164
Gentex Corp.		132,142		3,703,940
Harley-Davidson, Inc.		128,412		4,875,804
International Game Technology PLC		93,667		2,510,276
Las Vegas Sands Corp. *		70,267		4,036,839
Lear Corp.		14,038		1,958,161
Live Nation Entertainment, Inc. *		21,892		1,532,440
LKQ Corp.		84,629		4,803,542
Marriott International, Inc. Class A		33,169		5,507,381
NVR, Inc. *		644		3,588,490
Polaris, Inc.		48,662		5,383,477
Resideo Technologies, Inc. *		132,908		2,429,558
Ross Stores, Inc.		59,024		6,264,217
Tempur Sealy International, Inc.		143,060		5,649,439
Whirlpool Corp.		28,436		3,754,121
Wyndham Hotels & Resorts, Inc.		65,133		4,419,274
				92,217,713
Consumer, Non-Cyclical - 14.9%
AmerisourceBergen Corp.		57,153		9,150,767
ASGN, Inc. *		23,340		1,929,518
Avantor, Inc. *		91,681		1,938,136
Avery Dennison Corp.		16,281		2,913,159
Centene Corp. *		25,353		1,602,563
Cigna Group		6,397		1,634,625
Coca-Cola Europacific Partners PLC (United Kingdom)		62,049		3,672,680
Corteva, Inc.		124,769		7,524,818
Envista Holdings Corp. *		58,659		2,397,980
FleetCor Technologies, Inc. *		12,791		2,696,982
Global Payments, Inc.		23,155		2,436,832
H&R Block, Inc.		81,814		2,883,944
HCA Healthcare, Inc.		28,689		7,564,716
Humana, Inc.		11,120		5,398,315
ICON PLC (Ireland) *		39,005		8,331,078
IQVIA Holdings, Inc. *		10,749		2,137,869
Keurig Dr Pepper, Inc.		107,636		3,797,398
Laboratory Corp. of America Holdings		13,032		2,989,802
Molina Healthcare, Inc. *		523		139,897
Ritchie Bros Auctioneers, Inc. (Canada)		80,374		4,524,253
Robert Half International, Inc.		25,534		2,057,274

	Shares		Value
TransUnion		53,151		$ 3,302,803
US Foods Holding Corp. *		176,525		6,520,834
Zimmer Biomet Holdings, Inc.		42,667		5,512,576
				93,058,819
Energy - 5.4%
Devon Energy Corp.		71,568		3,622,056
Diamondback Energy, Inc.		24,462		3,306,529
Halliburton Co.		240,617		7,613,122
Marathon Petroleum Corp.		37,230		5,019,721
Pioneer Natural Resources Co.		18,013		3,678,975
Schlumberger NV		117,605		5,774,405
Valero Energy Corp.		32,236		4,500,146
				33,514,954
Financial - 20.0%
Aflac, Inc.		52,691		3,399,623
Allstate Corp.		14,477		1,604,196
American Homes 4 Rent Class A REIT		85,990		2,704,386
Ameriprise Financial, Inc.		42,909		13,151,609
Aon PLC Class A		19,392		6,114,104
Arch Capital Group Ltd. *		49,030		3,327,666
Ares Management Corp. Class A		45,713		3,814,293
Arthur J Gallagher & Co.		24,512		4,689,391
Discover Financial Services		69,779		6,896,956
East West Bancorp, Inc.		93,818		5,206,899
Equity LifeStyle Properties, Inc. REIT		38,615		2,592,225
Equity Residential REIT		62,929		3,775,740
Essex Property Trust, Inc. REIT		19,251		4,026,154
Everest Re Group Ltd.		19,800		7,088,796
Fifth Third Bancorp		190,491		5,074,680
First American Financial Corp.		31,193		1,736,202
Globe Life, Inc.		42,964		4,726,899
Healthpeak Properties, Inc. REIT		115,183		2,530,571
Huntington Bancshares, Inc.		479,018		5,365,002
Kilroy Realty Corp. REIT		40,785		1,321,434
Lamar Advertising Co. Class A REIT		52,010		5,195,279
Prologis, Inc. REIT		33,612		4,193,769
Regency Centers Corp. REIT		96,341		5,894,142
RenaissanceRe Holdings Ltd. (Bermuda)		13,316		2,667,727
Simon Property Group, Inc. REIT		48,808		5,465,032
SLM Corp.		80,358		995,636
Travelers Cos., Inc.		10,893		1,867,169
VICI Properties, Inc. REIT		90,027		2,936,681
Voya Financial, Inc.		23,320		1,666,447
Welltower, Inc. REIT		69,491		4,981,810
				125,010,518
Industrial - 21.3%
Advanced Drainage Systems, Inc.		19,907		1,676,368
Allegion PLC		56,151		5,992,996
AMETEK, Inc.		75,314		10,945,384
Builders FirstSource, Inc. *		26,451		2,348,320
BWX Technologies, Inc.		71,010		4,476,470
Curtiss-Wright Corp.		27,835		4,906,197
Dover Corp.		70,889		10,770,875
Eaton Corp. PLC		42,038		7,202,791
Expeditors International of Washington, Inc.		49,465		5,447,086
Flex Ltd. *		108,987		2,507,791
Fortive Corp.		49,936		3,404,137
Frontdoor, Inc. *		109,597		3,055,564
Garmin Ltd.		44,716		4,512,739
Hexcel Corp.		68,201		4,654,718
Howmet Aerospace, Inc.		198,034		8,390,701
ITT, Inc.		25,866		2,232,236
L3Harris Technologies, Inc.		9,395		1,843,675
Landstar System, Inc.		27,164		4,869,419
Masco Corp.		112,682		5,602,549
Mohawk Industries, Inc. *		18,580		1,862,088
Norfolk Southern Corp.		24,332		5,158,384

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

110

PACIFIC SELECT FUND

MID-CAP VALUE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
nVent Electric PLC		76,559		$ 3,287,443
Otis Worldwide Corp.		62,127		5,243,519
Parker-Hannifin Corp.		27,163		9,129,756
TE Connectivity Ltd.		41,842		5,487,578
Textron, Inc.		113,021		7,982,673
				132,991,457
Technology - 9.2%
Check Point Software Technologies Ltd. * (Israel)		45,501		5,915,130
Cognizant Technology Solutions Corp. Class A		64,951		3,957,464
Fair Isaac Corp. *		6,362		4,470,514
Fidelity National Information Services, Inc.		35,609		1,934,637
KLA Corp.		4,707		1,878,893
Leidos Holdings, Inc.		38,136		3,510,800
Microchip Technology, Inc.		85,056		7,125,992
NetApp, Inc.		52,620		3,359,787
NXP Semiconductors NV (China)		21,324		3,976,393
Qorvo, Inc. *		45,970		4,669,173
Science Applications International Corp.		38,257		4,111,097
SS&C Technologies Holdings, Inc.		88,280		4,985,172
Take-Two Interactive Software, Inc. *		26,431		3,153,218
Teradyne, Inc.		19,791		2,127,730
Western Digital Corp. *		67,661		2,548,790
				57,724,790
Utilities - 5.2%
American Electric Power Co., Inc.		65,283		5,940,100
CenterPoint Energy, Inc.		375,248		11,054,806
DTE Energy Co.		36,376		3,984,627
Entergy Corp.		65,683		7,076,687
FirstEnergy Corp.		105,571		4,229,174
				32,285,394
Total Common Stocks (Cost $501,405,459)				610,213,650
	Principal Amount
SHORT-TERM INVESTMENT - 2.3%
Repurchase Agreement - 2.3%
State Street Bank & Trust Co. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $14,491,101; collateralized by U.S. Treasury Notes: 1.500% due 01/31/27 and value $14,775,509)		$14,485,729		14,485,729
Total Short-Term Investment (Cost $14,485,729)				14,485,729
TOTAL INVESTMENTS - 100.0% (Cost $515,891,188)				624,699,379
OTHER ASSETS & LIABILITIES, NET - 0.0%				184,971
NET ASSETS - 100.0%				$624,884,350

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

111

PACIFIC SELECT FUND

MID-CAP VALUE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$610,213,650		$610,213,650		$-		$-
	Short-Term Investment		14,485,729		-		14,485,729		-
	Total		$624,699,379		$610,213,650		$14,485,729		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

112

PACIFIC SELECT FUND

SMALL-CAP EQUITY PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
RIGHTS - 0.0%
Basic Materials - 0.0%
PolyMet Mining Corp. * Exp 04/10/23		4,030		$11
Consumer, Non-Cyclical - 0.0%
Contra Aduro Biotechnologies, Inc. - Contingent Value Rights * W ±		154		391
OmniAb, Inc. $12.50 - Earn Out Shares * W ±		660		-
OmniAb, Inc. $15.00 - Earn Out Shares * W ±		660		-
				391
Total Rights (Cost $0)				402
COMMON STOCKS - 97.8%
Basic Materials - 6.3%
AdvanSix, Inc.		1,925		73,670
Alcoa Corp.		35,376		1,505,603
American Vanguard Corp.		304		6,651
Amyris, Inc. *		18,832		25,611
Arconic Corp. *		104,642		2,744,760
Ashland, Inc.		6,485		666,074
Avient Corp.		29,547		1,216,154
AZZ, Inc.		2,737		112,874
Carpenter Technology Corp.		5,314		237,855
Coeur Mining, Inc. *		31,112		124,137
Commercial Metals Co.		25,210		1,232,769
Constellium SE *		6,447		98,510
Danimer Scientific, Inc. *		9,896		34,141
Ecovyst, Inc. *		9,358		103,406
Elementis PLC * (United Kingdom)		1,497,351		2,199,933
Energy Fuels, Inc. *		2,916		16,271
Glatfelter Corp.		5,475		17,465
Hawkins, Inc.		819		35,856
Haynes International, Inc.		1,353		67,772
HB Fuller Co.		858		58,730
Hecla Mining Co.		61,247		387,693
Hycroft Mining Holding Corp. *		2,983		1,290
Innospec, Inc.		411		42,197
Intrepid Potash, Inc. *		1,216		33,562
Ivanhoe Electric, Inc. *		2,606		31,663
Koppers Holdings, Inc.		2,109		73,752
Mativ Holdings, Inc.		5,627		120,812
Minerals Technologies, Inc.		30,410		1,837,372
Novagold Resources, Inc. * (Canada)		1,509		9,386
Origin Materials, Inc. *		4,440		18,959
Perimeter Solutions SA *		13,016		105,169
Piedmont Lithium, Inc. *		1,369		82,208
PolyMet Mining Corp. * (Canada)		2,417		5,197
Quaker Chemical Corp.		503		99,569
Rayonier Advanced Materials, Inc. *		6,744		42,285
Schnitzer Steel Industries, Inc. Class A		2,554		79,429
Sensient Technologies Corp.		241		18,451
Stepan Co.		2,137		220,175
Sylvamo Corp.		261		12,074
Terawulf, Inc. *		6,937		6,506
Trinseo PLC		3,820		79,647
Tronox Holdings PLC		139,679		2,008,584
Unifi, Inc. *		1,812		14,804
Ur-Energy, Inc. *		2,111		2,238
US Lime & Minerals, Inc.		41		6,260

	Shares		Value
Valhi, Inc.		283		$ 4,927
				15,922,451
Communications - 1.7%
1-800-Flowers.com, Inc. Class A *		2,836		32,614
1stdibs.com, Inc. *		2,867		11,382
A10 Networks, Inc.		1,436		22,244
ADTRAN Holdings, Inc.		906		14,369
Advantage Solutions, Inc. *		8,655		13,675
aka Brands Holding Corp. *		563		307
Allbirds, Inc. Class A *		8,752		10,502
AMC Networks, Inc. Class A *		3,304		58,084
Anterix, Inc. *		1,439		47,545
Arena Group Holdings, Inc. *		363		1,543
ATN International, Inc.		1,194		48,858
Audacy, Inc. *		14,650		1,973
Aviat Networks, Inc. *		1,084		37,355
BARK, Inc. *		11,828		17,151
Blade Air Mobility, Inc. *		6,179		20,885
Boston Omaha Corp. Class A *		2,257		53,423
Bumble, Inc. Class A *		11,081		216,634
Calix, Inc. *		1,337		71,650
Cars.com, Inc. *		6,351		122,574
Clear Channel Outdoor Holdings, Inc. *		40,276		48,331
Cogent Communications Holdings, Inc.		2,173		138,464
Consolidated Communications Holdings, Inc. *		7,279		18,780
ContextLogic, Inc. Class A *		63,189		28,170
Cumulus Media, Inc. Class A *		2,262		8,347
DHI Group, Inc. *		741		2,875
DigitalBridge Group, Inc.		2,038		24,436
EchoStar Corp. Class A *		3,671		67,143
Edgio, Inc. *		1,237		979
Entravision Communications Corp. Class A		1,762		10,660
ePlus, Inc. *		666		32,661
Eventbrite, Inc. Class A *		1,262		10,828
EW Scripps Co. Class A *		6,387		60,102
Figs, Inc. Class A *		1,881		11,643
fuboTV, Inc. *		20,530		24,841
Gannett Co., Inc. *		15,301		28,613
Globalstar, Inc. *		10,593		12,288
Gogo, Inc. *		4,981		72,224
Gray Television, Inc.		5,029		43,853
Groupon, Inc. *		1,890		7,957
HealthStream, Inc. *		2,484		67,316
Hims & Hers Health, Inc. *		2,274		22,558
IDT Corp. Class B *		446		15,200
iHeartMedia, Inc. Class A *		13,165		51,343
Innovid Corp. * (Israel)		1,495		2,108
Inseego Corp. *		8,828		5,141
Inspirato, Inc. *		2,399		2,300
InterDigital, Inc.		2,063		150,393
KORE Group Holdings, Inc. *		4,943		6,030
Lands’ End, Inc. *		1,781		17,311
Liberty Latin America Ltd. Class A *		4,953		41,159
Liberty Latin America Ltd. Class C *		15,502		128,046
Liquidity Services, Inc. *		1,313		17,292
Magnite, Inc. *		14,669		135,835
Maxar Technologies, Inc.		8,107		413,943
NETGEAR, Inc. *		3,093		57,251
Overstock.com, Inc. *		4,651		94,276
Planet Labs PBC *		2,589		10,175
Preformed Line Products Co.		260		33,290
QuinStreet, Inc. *		5,199		82,508
Quotient Technology, Inc. *		8,756		28,720
RealReal, Inc. *		9,173		11,558
Ribbon Communications, Inc. *		7,896		27,004
Rover Group, Inc. *		485		2,197
RumbleON, Inc. Class B *		1,323		8,017
Scholastic Corp.		3,266		111,762
Shenandoah Telecommunications Co.		5,395		102,613
Solo Brands, Inc. Class A *		2,683		19,264

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

113

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SMALL-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Squarespace, Inc. Class A *		2,534		$ 80,505
Stagwell, Inc. *		7,599		56,385
Stitch Fix, Inc. Class A *		5,500		28,105
TEGNA, Inc.		24,645		416,747
Telephone & Data Systems, Inc.		11,202		117,733
Terran Orbital Corp. *		4,989		9,180
Thryv Holdings, Inc. *		2,087		48,126
TrueCar, Inc. *		9,540		21,942
Urban One, Inc. *		1,770		11,293
US Cellular Corp. *		1,605		33,272
Vacasa, Inc. Class A *		10,964		10,550
Value Line, Inc.		32		1,547
Vivid Seats, Inc. Class A *		2,293		17,496
WideOpenWest, Inc. *		2,693		28,627
Ziff Davis, Inc. *		4,105		320,395
				4,322,476
Consumer, Cyclical - 12.7%
A-Mark Precious Metals, Inc.		2,127		73,701
Abercrombie & Fitch Co. Class A *		5,384		149,406
Academy Sports & Outdoors, Inc.		8,362		545,621
Acushnet Holdings Corp.		2,614		133,157
Adient PLC *		58,266		2,386,575
Aeva Technologies, Inc. *		9,871		11,747
Allegiant Travel Co. *		966		88,853
America’s Car-Mart, Inc. *		643		50,932
American Axle & Manufacturing Holdings, Inc. *		11,677		91,197
American Eagle Outfitters, Inc.		17,090		229,690
Asbury Automotive Group, Inc. *		1,733		363,930
Aterian, Inc. *		7,090		6,098
Bally’s Corp. *		3,916		76,440
Beacon Roofing Supply, Inc. *		1,693		99,633
Beazer Homes USA, Inc. *		3,243		51,499
Bed Bath & Beyond, Inc. *		2,879		1,230
Big 5 Sporting Goods Corp.		2,154		16,564
Big Lots, Inc.		3,099		33,965
Biglari Holdings, Inc. Class B *		72		12,182
BJ’s Restaurants, Inc. *		2,476		72,151
Bloomin’ Brands, Inc.		2,595		66,562
Bluegreen Vacations Holding Corp.		909		24,888
BlueLinx Holdings, Inc. *		957		65,038
Bowlero Corp. *		3,225		54,664
Boyd Gaming Corp.		10,512		674,029
Brinker International, Inc. *		74,877		2,845,326
Brunswick Corp.		16,485		1,351,770
Buckle, Inc.		196		6,995
Build-A-Bear Workshop, Inc.		454		10,551
Capri Holdings Ltd. *		14,460		679,620
Carter’s, Inc.		21,661		1,557,859
Cato Corp. Class A		1,950		17,238
Cenntro Electric Group Ltd. * (Australia)		23,452		10,830
Century Casinos, Inc. *		307		2,250
Century Communities, Inc.		7,346		469,556
Cepton, Inc. *		1,086		504
Chico’s FAS, Inc. *		3,731		20,521
Children’s Place, Inc. *		27,127		1,091,862
Chuy’s Holdings, Inc. *		2,004		71,843
Cinemark Holdings, Inc. *		2,523		37,315
Citi Trends, Inc. *		839		15,958
Clean Energy Fuels Corp. *		18,513		80,717
CompX International, Inc.		141		2,549
Conn’s, Inc. *		1,263		7,654
Container Store Group, Inc. *		3,931		13,483
Dalata Hotel Group PLC * (Ireland)		159,576		723,552
Dana, Inc.		14,319		215,501
Denny’s Corp. *		31,874		355,714
Designer Brands, Inc. Class A		1,380		12,061
Destination XL Group, Inc. *		2,871		15,819
Dine Brands Global, Inc.		199		13,460
Dr. Martens PLC (United Kingdom)		208,936		366,380
Duluth Holdings, Inc. Class B *		730		4,657

	Shares		Value
El Pollo Loco Holdings, Inc.		2,124		$ 20,369
Ermenegildo Zegna NV (Italy)		5,063		69,059
Ethan Allen Interiors, Inc.		2,471		67,854
Everi Holdings, Inc. *		4,316		74,019
EVgo, Inc. *		6,310		49,155
Express, Inc. *		8,280		6,527
First Watch Restaurant Group, Inc. *		1,169		18,774
FirstCash Holdings, Inc.		2,077		198,084
Foot Locker, Inc.		8,890		352,844
Forestar Group, Inc. *		1,635		25,441
Fossil Group, Inc. *		4,888		15,642
Franchise Group, Inc.		206		5,614
Full House Resorts, Inc. *		2,461		17,793
G-III Apparel Group Ltd. *		4,818		74,920
Genesco, Inc. *		1,322		48,755
Global Industrial Co.		410		11,004
Goodyear Tire & Rubber Co. *		30,942		340,981
Green Brick Partners, Inc. *		2,169		76,045
Group 1 Automotive, Inc.		2,352		532,540
GrowGeneration Corp. *		6,269		21,440
Haverty Furniture Cos., Inc.		1,590		50,737
Hawaiian Holdings, Inc. *		5,530		50,655
Hibbett, Inc.		270		15,925
Hilton Grand Vacations, Inc. *		31,214		1,386,838
Hyliion Holdings Corp. *		14,999		29,698
IMAX Corp. *		2,195		42,100
Interface, Inc.		969		7,868
International Game Technology PLC		8,435		226,058
iRobot Corp. *		324		14,139
Jack in the Box, Inc.		21,177		1,854,893
JOANN, Inc.		1,395		2,218
Johnson Outdoors, Inc. Class A		569		35,853
KAR Auction Services, Inc. *		12,008		164,269
KB Home		6,866		275,876
Kimball International, Inc. Class B		3,907		48,447
La-Z-Boy, Inc.		4,751		138,159
Landsea Homes Corp. *		1,129		6,842
LCI Industries		6,010		660,319
LGI Homes, Inc. *		2,112		240,831
Life Time Group Holdings, Inc. *		4,591		73,272
Lifetime Brands, Inc.		1,637		9,626
Light & Wonder, Inc. *		10,423		625,901
Lindblad Expeditions Holdings, Inc. *		3,385		32,361
Lions Gate Entertainment Corp. Class A *		6,367		70,483
Lions Gate Entertainment Corp. Class B *		12,611		130,902
LL Flooring Holdings, Inc. *		2,817		10,705
Lordstown Motors Corp. Class A *		16,981		11,260
M/I Homes, Inc. *		9,720		613,235
Madison Square Garden Entertainment Corp. *		2,900		171,303
Marcus Corp.		2,598		41,568
MarineMax, Inc. *		2,159		62,071
MDC Holdings, Inc.		4,761		185,060
Meritage Homes Corp.		5,573		650,704
Methode Electronics, Inc.		3,937		172,756
Microvast Holdings, Inc. *		9,052		11,224
Miller Industries, Inc.		1,141		40,334
MillerKnoll, Inc.		8,435		172,496
Motorcar Parts of America, Inc. *		1,952		14,523
Movado Group, Inc.		1,653		47,557
National Vision Holdings, Inc. *		8,154		153,621
Nikola Corp. *		2,856		3,456
Nu Skin Enterprises, Inc. Class A		3,264		128,308
ODP Corp. *		4,437		199,576
OneWater Marine, Inc. Class A *		1,143		31,970
Oxford Industries, Inc.		503		53,112
Papa John’s International, Inc.		997		74,705
Patrick Industries, Inc.		2,150		147,942
PC Connection, Inc.		1,229		55,256
PetMed Express, Inc.		385		6,252
PLBY Group, Inc. *		5,176		10,248
PriceSmart, Inc.		1,064		76,055
Proterra, Inc. *		13,234		20,116

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

114

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SMALL-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Purple Innovation, Inc. *		6,548		$ 17,287
Qurate Retail, Inc. Series A *		38,237		37,771
RCI Hospitality Holdings, Inc.		47		3,674
Red Rock Resorts, Inc. Class A		3,103		138,301
Resideo Technologies, Inc. *		15,983		292,169
REV Group, Inc.		24,460		293,275
Rite Aid Corp. *		2,568		5,752
Rocky Brands, Inc.		657		15,157
Rush Enterprises, Inc. Class A		4,576		249,850
Rush Enterprises, Inc. Class B		716		42,881
Sally Beauty Holdings, Inc. *		708		11,031
ScanSource, Inc. *		2,757		83,923
SeaWorld Entertainment, Inc. *		2,204		135,127
Shoe Carnival, Inc.		1,856		47,606
Signet Jewelers Ltd.		4,941		384,311
SkyWest, Inc. *		5,593		123,997
Sleep Number Corp. *		1,284		39,046
Snap One Holdings Corp. *		1,865		17,438
Solid Power, Inc. *		8,760		26,368
Sonic Automotive, Inc. Class A		1,996		108,463
Sovos Brands, Inc. *		1,414		23,586
Spirit Airlines, Inc.		12,069		207,225
Sportsman’s Warehouse Holdings, Inc. *		4,079		34,590
Standard Motor Products, Inc.		2,202		81,276
Steelcase, Inc. Class A		9,505		80,032
Superior Group of Cos., Inc.		1,123		8,838
Taylor Morrison Home Corp. *		12,278		469,756
ThredUp, Inc. Class A *		4,983		12,607
Tile Shop Holdings, Inc. *		3,317		15,557
Tilly’s, Inc. Class A *		2,283		17,602
Titan Machinery, Inc. *		2,211		67,325
Topgolf Callaway Brands Corp. *		15,481		334,699
Torrid Holdings, Inc. *		811		3,536
Traeger, Inc. *		3,226		13,259
TravelCenters of America, Inc. *		1,392		120,408
Tri Pointe Homes, Inc. *		10,125		256,365
Tupperware Brands Corp. *		5,567		13,918
TuSimple Holdings, Inc. Class A *		15,455		22,719
UniFirst Corp.		1,655		291,661
Universal Electronics, Inc. *		1,536		15,575
Urban Outfitters, Inc. *		7,088		196,479
Vinco Ventures, Inc. *		13,870		4,456
Virgin Galactic Holdings, Inc. *		13,869		56,169
Vista Outdoor, Inc. *		6,203		171,885
VSE Corp.		1,158		51,994
Wabash National Corp.		669		16,451
Weyco Group, Inc.		659		16,673
Wheels Up Experience, Inc. *		15,734		9,956
Winmark Corp.		307		98,372
Winnebago Industries, Inc.		3,312		191,102
Workhorse Group, Inc. *		1,628		2,165
World Fuel Services Corp.		6,752		172,514
Xperi, Inc. *		4,552		49,753
Xponential Fitness, Inc. Class A *		1,560		47,408
Zumiez, Inc. *		1,709		31,514
				32,048,692
Consumer, Non-Cyclical - 15.0%
23andMe Holding Co. Class A *		16,072		36,644
2seventy bio, Inc. *		4,083		41,647
2U, Inc. *		8,377		57,382
4D Molecular Therapeutics, Inc. *		3,277		56,332
Aaron’s Co., Inc.		3,308		31,955
AbCellera Biologics, Inc. * (Canada)		13,233		99,777
ABM Industries, Inc.		7,325		329,186
Absci Corp. *		6,509		11,391
ACCO Brands Corp.		10,047		53,450
Accolade, Inc. *		7,264		104,456
Acrivon Therapeutics, Inc. *		543		6,891
AdaptHealth Corp. *		7,887		98,035
Adaptive Biotechnologies Corp. *		11,818		104,353

	Shares		Value
Addus HomeCare Corp. *		1,042		$ 111,244
Adicet Bio, Inc. *		3,312		19,077
ADMA Biologics, Inc. *		12,967		42,921
Adtalem Global Education, Inc. *		4,935		190,590
Aerovate Therapeutics, Inc. *		998		20,130
Affimed NV * (Germany)		1,510		1,126
Agios Pharmaceuticals, Inc. *		6,050		138,969
Akero Therapeutics, Inc. *		3,584		137,124
Alico, Inc.		761		18,416
Alight, Inc. Class A *		42,475		391,195
Allogene Therapeutics, Inc. *		8,703		42,993
Allovir, Inc. *		3,242		12,773
Alpha Teknova, Inc. *		701		2,075
Alphatec Holdings, Inc. *		782		12,199
Alpine Immune Sciences, Inc. *		1,429		11,032
Alta Equipment Group, Inc.		1,922		30,464
ALX Oncology Holdings, Inc. *		2,108		9,528
American Public Education, Inc. *		2,312		12,531
American Well Corp. Class A *		25,050		59,118
Amylyx Pharmaceuticals, Inc. *		4,481		131,473
AN2 Therapeutics, Inc. *		1,046		10,324
AnaptysBio, Inc. *		2,213		48,155
Andersons, Inc.		3,544		146,438
AngioDynamics, Inc. *		4,064		42,022
ANI Pharmaceuticals, Inc. *		1,392		55,290
Anika Therapeutics, Inc. *		1,592		45,722
API Group Corp. *		22,774		511,960
AppHarvest, Inc. *		9,064		5,550
Arbutus Biopharma Corp. *		5,162		15,641
Arcellx, Inc. *		3,264		100,564
Arcturus Therapeutics Holdings, Inc. *		326		7,814
Arcus Biosciences, Inc. *		5,705		104,059
Artivion, Inc. *		749		9,812
Atara Biotherapeutics, Inc. *		10,028		29,081
Atea Pharmaceuticals, Inc. *		7,915		26,515
Athira Pharma, Inc. *		3,981		9,953
ATI Physical Therapy, Inc. *		8,550		2,173
AtriCure, Inc. *		1,816		75,273
Avanos Medical, Inc. *		5,179		154,023
Aveanna Healthcare Holdings, Inc. *		4,980		5,179
Avidity Biosciences, Inc. *		7,215		110,750
B&G Foods, Inc.		7,826		121,538
Bakkt Holdings, Inc. *		5,228		8,992
Barrett Business Services, Inc.		76		6,737
Beachbody Co., Inc. *		11,191		5,396
Beauty Health Co. *		1,028		12,984
Benson Hill, Inc. *		8,618		9,911
BioCryst Pharmaceuticals, Inc. *		6,279		52,367
Biohaven Ltd. *		2,617		35,748
BioLife Solutions, Inc. *		3,401		73,972
Bionano Genomics, Inc. *		32,674		36,268
Bioventus, Inc. Class A *		3,920		4,194
Bioxcel Therapeutics, Inc. *		2,088		38,962
Bird Global, Inc. Class A *		21,041		5,889
Bluebird Bio, Inc. *		11,522		36,640
Boxed, Inc. *		7,514		1,426
Bridgebio Pharma, Inc. *		4,382		72,654
Bright Health Group, Inc. *		24,891		5,483
BrightView Holdings, Inc. *		4,481		25,183
Brookdale Senior Living, Inc. *		20,313		59,923
Butterfly Network, Inc. *		14,514		27,286
C4 Therapeutics, Inc. *		4,567		14,340
Cal-Maine Foods, Inc.		323		19,667
Cara Therapeutics, Inc. *		4,892		24,020
Cardiovascular Systems, Inc. *		2,036		40,435
CareMax, Inc. *		6,383		17,043
Caribou Biosciences, Inc. *		6,125		32,524
Cass Information Systems, Inc.		1,229		53,228
Castle Biosciences, Inc. *		2,679		60,867
Celldex Therapeutics, Inc. *		3,991		143,596
Central Garden & Pet Co. *		706		28,988
Central Garden & Pet Co. Class A *		2,817		110,060

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

115

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SMALL-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Century Therapeutics, Inc. *		2,465		$ 8,554
Chefs’ Warehouse, Inc. *		1,102		37,523
Chimerix, Inc. *		3,295		4,152
Chinook Therapeutics, Inc. *		5,615		129,987
Cipher Mining, Inc. *		4,347		10,129
Cogent Biosciences, Inc. *		6,991		75,433
Community Health Systems, Inc. *		13,657		66,919
CompoSecure, Inc. *		266		1,958
CoreCivic, Inc. *		12,651		116,389
Crinetics Pharmaceuticals, Inc. *		4,948		79,465
Cross Country Healthcare, Inc. *		3,386		75,576
CTI BioPharma Corp. *		8,802		36,968
Cue Health, Inc. *		11,890		21,640
Cullinan Oncology, Inc. *		2,859		29,248
Custom Truck One Source, Inc. *		4,450		30,216
Cytokinetics, Inc. *		861		30,299
Day One Biopharmaceuticals, Inc. *		3,024		40,431
Deciphera Pharmaceuticals, Inc. *		4,144		64,025
Deluxe Corp.		4,727		75,632
Design Therapeutics, Inc. *		3,700		21,349
DICE Therapeutics, Inc. *		3,920		112,308
Distribution Solutions Group, Inc. *		93		4,228
Dyne Therapeutics, Inc. *		3,459		39,848
Edgewell Personal Care Co.		5,692		241,455
Edgewise Therapeutics, Inc. *		4,139		27,607
Editas Medicine, Inc. *		7,544		54,694
Eiger BioPharmaceuticals, Inc. *		481		431
Embecta Corp.		856		24,071
Emergent BioSolutions, Inc. *		5,499		56,970
Enanta Pharmaceuticals, Inc. *		1,943		78,575
Ennis, Inc.		2,943		62,068
Enochian Biosciences, Inc. *		2,530		2,315
Envista Holdings Corp. *		78,819		3,222,121
EQRx, Inc. *		21,953		42,589
Erasca, Inc. *		8,205		24,697
European Wax Center, Inc. Class A		217		4,123
EyePoint Pharmaceuticals, Inc. *		1,722		5,063
FibroGen, Inc. *		1,041		19,425
First Advantage Corp. *		5,918		82,615
Fresh Del Monte Produce, Inc.		3,215		96,804
Fulcrum Therapeutics, Inc. *		5,470		15,590
Fulgent Genetics, Inc. *		2,355		73,523
GeneDx Holdings Corp. *		34,658		12,650
Generation Bio Co. *		5,005		21,522
GEO Group, Inc. *		13,102		103,375
Geron Corp. *		14,143		30,690
Glanbia PLC (Ireland)		216,596		3,127,751
Graham Holdings Co. Class B		406		241,911
Green Dot Corp. Class A *		4,586		78,787
Greenidge Generation Holdings, Inc. *		1,209		546
Hackett Group, Inc.		371		6,856
Hain Celestial Group, Inc. *		10,034		172,083
Healthcare Services Group, Inc.		4,209		58,379
Heidrick & Struggles International, Inc.		2,134		64,788
Herbalife Nutrition Ltd. *		3,594		57,863
Herc Holdings, Inc.		17,033		1,940,059
HF Foods Group, Inc. *		3,731		14,626
HilleVax, Inc. *		1,535		25,374
Honest Co., Inc. *		7,348		13,226
Hostess Brands, Inc. *		14,656		364,641
Huron Consulting Group, Inc. *		865		69,520
ICF International, Inc.		7,055		773,934
Icosavax, Inc. *		2,234		12,957
Ideaya Biosciences, Inc. *		4,837		66,412
IGM Biosciences, Inc. *		297		4,081
ImmunityBio, Inc. *		2,422		4,408
ImmunoGen, Inc. *		11,864		45,558
Immunovant, Inc. *		4,854		75,286
Inari Medical, Inc. *		469		28,956
Information Services Group, Inc.		2,214		11,269
Ingles Markets, Inc. Class A		1,587		140,767
Innovage Holding Corp. *		2,105		16,798

	Shares		Value
Inogen, Inc. *		2,350		$ 29,328
Inotiv, Inc. *		2,565		11,106
Inovio Pharmaceuticals, Inc. *		26,993		22,134
Instil Bio, Inc. *		8,942		5,909
Integer Holdings Corp. *		41,383		3,207,182
Intellia Therapeutics, Inc. *		3,178		118,444
Invitae Corp. *		26,629		35,949
Invivyd, Inc. *		6,262		7,514
Iovance Biotherapeutics, Inc. *		16,770		102,465
iTeos Therapeutics, Inc. *		2,569		34,964
Janux Therapeutics, Inc. *		1,874		22,675
John B Sanfilippo & Son, Inc.		378		36,636
John Wiley & Sons, Inc. Class A		281		10,894
Jounce Therapeutics, Inc. *		3,799		7,028
KalVista Pharmaceuticals, Inc. *		2,637		20,727
Kelly Services, Inc. Class A		3,686		61,151
Keros Therapeutics, Inc. *		119		5,081
Kezar Life Sciences, Inc. *		5,748		17,991
Kiniksa Pharmaceuticals Ltd. Class A *		181		1,948
Kinnate Biopharma, Inc. *		2,956		18,475
Kodiak Sciences, Inc. *		3,617		22,425
Krispy Kreme, Inc.		5,781		89,895
Kronos Bio, Inc. *		5,035		7,351
Krystal Biotech, Inc. *		1,580		126,495
Kura Oncology, Inc. *		7,098		86,809
Kymera Therapeutics, Inc. *		4,185		124,002
Lancaster Colony Corp.		329		66,748
Laureate Education, Inc.		14,758		173,554
Lexicon Pharmaceuticals, Inc. *		5,089		12,366
Lifecore Biomedical, Inc. *		3,257		12,295
LifeStance Health Group, Inc. *		7,370		54,759
Ligand Pharmaceuticals, Inc. *		1,448		106,515
Liquidia Corp. *		1,709		11,809
LivaNova PLC *		1,389		60,533
LiveRamp Holdings, Inc. *		7,107		155,857
Lyell Immunopharma, Inc. *		18,894		44,590
MacroGenics, Inc. *		6,583		47,200
MannKind Corp. *		25,104		102,926
Maple Leaf Foods, Inc. (Canada)		108,368		2,096,799
Marathon Digital Holdings, Inc. *		12,784		111,476
MarketWise, Inc. *		2,246		4,155
Matthews International Corp. Class A		3,317		119,611
MaxCyte, Inc. *		9,624		47,639
MeiraGTx Holdings PLC *		3,463		17,904
Merit Medical Systems, Inc. *		855		63,227
Mersana Therapeutics, Inc. *		10,107		41,540
MiMedx Group, Inc. *		12,321		42,015
Mineralys Therapeutics, Inc. *		758		11,870
Mission Produce, Inc. *		3,865		42,940
ModivCare, Inc. *		952		80,044
MoneyGram International, Inc. *		10,394		108,305
Moneylion, Inc. *		11,685		6,635
Monro, Inc.		3,460		171,028
Monte Rosa Therapeutics, Inc. *		3,244		25,271
Morphic Holding, Inc. *		410		15,432
Multiplan Corp. *		41,266		43,742
Myriad Genetics, Inc. *		8,776		203,866
Nano-X Imaging Ltd. * (Israel)		4,546		26,230
NanoString Technologies, Inc. *		562		5,564
National HealthCare Corp.		1,373		79,730
Natural Grocers by Vitamin Cottage, Inc.		222		2,609
Nature’s Sunshine Products, Inc. *		1,476		15,070
Nautilus Biotechnology, Inc. *		5,704		15,800
Nektar Therapeutics*		19,817		13,929
Neogen Corp. *		1,919		35,540
NeoGenomics, Inc. *		13,879		241,633
NGM Biopharmaceuticals, Inc. *		2,062		8,413
Nkarta, Inc. *		3,236		11,488
Nurix Therapeutics, Inc. *		5,067		44,995
Nuvalent, Inc. Class A *		2,227		58,102
Nuvation Bio, Inc. *		12,501		20,752
OmniAb, Inc. *		7,380		27,158

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

116

PACIFIC SELECT FUND

SMALL-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
OPKO Health, Inc. *		44,088		$ 64,368
OraSure Technologies, Inc. *		7,839		47,426
Orthofix Medical, Inc. *		3,744		62,712
Oscar Health, Inc. Class A *		13,177		86,178
Owens & Minor, Inc. *		7,124		103,654
P3 Health Partners, Inc. *		884		937
Pacific Biosciences of California, Inc. *		27,340		316,597
Pardes Biosciences, Inc. *		3,463		4,571
Patterson Cos., Inc.		2,028		54,290
Paysafe Ltd. *		3,078		53,157
Pediatrix Medical Group, Inc. *		9,113		135,875
PepGen, Inc. *		1,230		15,043
Perdoceo Education Corp. *		7,411		99,530
PetIQ, Inc. *		679		7,768
PFSweb, Inc.		1,366		5,792
PhenomeX, Inc. *		7,113		8,251
Phibro Animal Health Corp. Class A		242		3,707
PMV Pharmaceuticals, Inc. *		4,022		19,185
Point Biopharma Global, Inc. SPAC *		613		4,457
Praxis Precision Medicines, Inc. *		4,464		3,611
Precigen, Inc. *		2,339		2,479
Prestige Consumer Healthcare, Inc. *		5,482		343,338
Prime Medicine, Inc. *		702		8,635
Primo Water Corp.		17,353		266,369
PROG Holdings, Inc. *		4,598		109,386
Protagonist Therapeutics, Inc. *		5,144		118,312
Provention Bio, Inc. *		1,066		25,691
PTC Therapeutics, Inc. *		1,888		91,455
QinetiQ Group PLC (United Kingdom)		366,187		1,471,133
Quad/Graphics, Inc. *		3,208		13,762
Quanex Building Products Corp.		3,697		79,596
Quanterix Corp. *		3,214		36,222
Quantum-Si, Inc. *		9,435		16,606
Rallybio Corp. *		582		3,323
RAPT Therapeutics, Inc. *		1,001		18,368
Reata Pharmaceuticals, Inc. Class A *		501		45,551
Recursion Pharmaceuticals, Inc. Class A *		13,792		91,993
REGENXBIO, Inc. *		4,386		82,939
Relay Therapeutics, Inc. *		8,675		142,877
Relmada Therapeutics, Inc. *		1,019		2,303
Repay Holdings Corp. *		9,568		62,862
Replimune Group, Inc. *		5,186		91,585
Resources Connection, Inc.		3,505		59,795
REVOLUTION Medicines, Inc. *		8,263		178,977
Riot Platforms, Inc. *		17,574		175,564
Ritchie Bros Auctioneers, Inc. (Canada)		31,544		1,775,612
Rocket Pharmaceuticals, Inc. *		6,205		106,292
RxSight, Inc. *		203		3,386
Sabre Corp. *		28,836		123,706
Sage Therapeutics, Inc. *		5,755		241,480
Sana Biotechnology, Inc. *		9,720		31,784
Sangamo Therapeutics, Inc. *		13,794		24,277
Scilex Holding Co. * (Singapore)		6,965		57,113
Seer, Inc. *		5,633		21,743
Select Medical Holdings Corp.		1,728		44,669
Seneca Foods Corp. Class A *		557		29,114
Singular Genomics Systems, Inc. *		6,914		8,366
SomaLogic, Inc. *		14,682		37,439
SpartanNash Co.		3,916		97,117
Spire Global, Inc. *		15,401		10,288
SpringWorks Therapeutics, Inc. *		3,236		83,295
Sterling Check Corp. *		223		2,486
Stoke Therapeutics, Inc. *		2,427		20,217
StoneCo Ltd. Class A * (Brazil)		14,732		140,543
Strategic Education, Inc.		2,503		224,844
SunOpta, Inc. * (Canada)		889		6,845
Supernus Pharmaceuticals, Inc. *		5,318		192,671
Surgery Partners, Inc. *		711		24,508
Sutro Biopharma, Inc. *		5,887		27,198
Syndax Pharmaceuticals, Inc. *		5,122		108,177
Tactile Systems Technology, Inc. *		1,389		22,807
Talaris Therapeutics, Inc. *		2,703		5,082

	Shares		Value
Tango Therapeutics, Inc. *		4,994		$ 19,726
Tarsus Pharmaceuticals, Inc. *		2,007		25,228
Tattooed Chef, Inc. *		999		1,419
Tejon Ranch Co. *		2,270		41,473
Tenaya Therapeutics, Inc. *		5,064		14,432
Textainer Group Holdings Ltd. (China)		4,142		133,000
Theravance Biopharma, Inc. *		817		8,864
Theseus Pharmaceuticals, Inc. *		2,014		17,884
Third Harmonic Bio, Inc. *		884		3,642
Tootsie Roll Industries, Inc.		217		9,727
Travere Therapeutics, Inc. *		570		12,819
TreeHouse Foods, Inc. *		5,603		282,559
Triton International Ltd. (Bermuda)		6,411		405,303
TrueBlue, Inc. *		3,514		62,549
Twist Bioscience Corp. *		1,803		27,189
Tyra Biosciences, Inc. *		1,448		23,269
United Natural Foods, Inc. *		6,152		162,105
Universal Corp.		2,677		141,587
Utah Medical Products, Inc.		11		1,042
Utz Brands, Inc.		1,026		16,898
V2X, Inc. *		1,313		52,152
Vanda Pharmaceuticals, Inc. *		6,041		41,018
Varex Imaging Corp. *		4,219		76,744
Vaxart, Inc. *		12,607		9,540
VBI Vaccines, Inc. *		24,264		7,352
Vector Group Ltd.		13,524		162,423
Vera Therapeutics, Inc. *		146		1,133
Veracyte, Inc. *		7,924		176,705
Verve Therapeutics, Inc. *		4,330		62,439
Viad Corp. *		2,219		46,244
ViewRay, Inc. *		2,040		7,058
Village Super Market, Inc. Class A		899		20,569
Vintage Wine Estates, Inc. *		3,345		3,579
Vir Biotechnology, Inc. *		8,005		186,276
Viridian Therapeutics, Inc. *		1,127		28,671
Weis Markets, Inc.		1,816		153,761
Whole Earth Brands, Inc. *		3,793		9,710
Willdan Group, Inc. *		1,082		16,901
WillScot Mobile Mini Holdings Corp. *		1,501		70,367
WW International, Inc. *		6,156		25,363
Xencor, Inc. *		6,352		177,157
Zentalis Pharmaceuticals, Inc. *		301		5,177
Zimvie, Inc. *		2,128		15,385
				37,779,152
Energy - 6.6%
Aemetis, Inc. *		2,817		6,535
Alto Ingredients, Inc. *		7,726		11,589
Amplify Energy Corp. *		1,209		8,306
Archrock, Inc.		14,937		145,934
Berry Corp.		6,923		54,346
Borr Drilling Ltd. * (United Arab Emirates)		11,927		90,407
Bristow Group, Inc. *		2,551		57,142
California Resources Corp.		8,183		315,045
Callon Petroleum Co. *		908		30,364
Chord Energy Corp.		1,864		250,894
Civitas Resources, Inc.		8,134		555,878
Cleanspark, Inc. *		8,378		23,291
CNX Resources Corp. *		17,599		281,936
CONSOL Energy, Inc.		192		11,188
Crescent Point Energy Corp. (Canada)		578,699		4,084,934
Diamond Offshore Drilling, Inc. *		11,302		136,076
DMC Global, Inc. *		1,528		33,570
Dril-Quip, Inc. *		3,745		107,444
Eneti, Inc.		2,474		23,132
Equitrans Midstream Corp.		34,638		200,208
Excelerate Energy, Inc. Class A		2,026		44,856
Expro Group Holdings NV *		9,626		176,733
FuelCell Energy, Inc. *		12,272		34,975
FutureFuel Corp.		2,822		20,826
Gevo, Inc. *		21,496		33,104

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

117

PACIFIC SELECT FUND

SMALL-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Golar LNG Ltd. * (Cameroon)		10,493		$ 226,649
Green Plains, Inc. *		105,602		3,272,606
Helix Energy Solutions Group, Inc. *		15,860		122,756
Helmerich & Payne, Inc.		11,385		407,014
Hunting PLC (United Kingdom)		181,209		527,553
Kinetik Holdings, Inc.		1,647		51,551
Murphy Oil Corp.		9,233		341,436
Nabors Industries Ltd. *		116		14,142
NACCO Industries, Inc. Class A		404		14,572
National Energy Services Reunited Corp. *		4,043		21,266
Newpark Resources, Inc. *		9,420		36,267
NextDecade Corp. *		696		3,459
Noble Corp. PLC *		7,626		300,998
Northern Oil & Gas, Inc.		1,089		33,051
NOW, Inc. *		12,275		136,866
Oceaneering International, Inc. *		1,027		18,106
Oil States International, Inc. *		6,875		57,269
Patterson-UTI Energy, Inc.		7,568		88,546
PBF Energy, Inc. Class A		10,081		437,112
Peabody Energy Corp. *		12,981		332,314
Permian Resources Corp.		22,560		236,880
ProFrac Holding Corp. Class A *		1,346		17,054
ProPetro Holding Corp. *		9,539		68,585
REX American Resources Corp. *		1,694		48,431
Riley Exploration Permian, Inc.		375		14,273
Ring Energy, Inc. *		6,757		12,838
Select Energy Services, Inc. Class A		7,798		54,274
Stem, Inc. *		970		5,500
SunCoke Energy, Inc.		9,101		81,727
Sunnova Energy International, Inc. *		10,983		171,554
TechnipFMC PLC * (United Kingdom)		151,572		2,068,958
Tidewater, Inc. *		5,137		226,439
US Silica Holdings, Inc. *		6,872		82,052
Vertex Energy, Inc. *		895		8,843
W&T Offshore, Inc. *		2,066		10,495
Warrior Met Coal, Inc.		5,090		186,854
				16,477,003
Financial - 30.2%
1st Source Corp.		1,839		79,353
Acadia Realty Trust REIT		9,910		138,244
ACNB Corp.		883		28,742
AFC Gamma, Inc. REIT		1,647		20,028
Agree Realty Corp. REIT		9,620		660,028
Alerus Financial Corp.		1,789		28,713
Alexander & Baldwin, Inc. REIT *		78,012		1,475,207
Amalgamated Financial Corp.		1,928		34,106
Ambac Financial Group, Inc. *		4,917		76,115
Amerant Bancorp, Inc.		3,029		65,911
American Assets Trust, Inc. REIT		5,438		101,092
American Equity Investment Life Holding Co.		7,843		286,191
American National Bankshares, Inc.		1,133		35,916
American Realty Investors, Inc. *		134		3,527
Ameris Bancorp		7,103		259,828
AMERISAFE, Inc.		2,087		102,159
Angel Oak Mortgage REIT, Inc. REIT		1,082		7,899
Anywhere Real Estate, Inc. *		11,724		61,903
Apartment Investment & Management Co. Class A REIT		16,555		127,308
Apollo Commercial Real Estate Finance, Inc. REIT		15,570		144,957
Apple Hospitality REIT, Inc.		23,815		369,609
Applied Digital Corp. *		5,027		11,260
Arbor Realty Trust, Inc. REIT		18,212		209,256
Ares Commercial Real Estate Corp. REIT		5,606		50,959
Argo Group International Holdings Ltd.		3,527		103,306
Armada Hoffler Properties, Inc. REIT		7,330		86,567
ARMOUR Residential REIT, Inc.		17,713		92,993
Arrow Financial Corp.		1,685		41,973
Artisan Partners Asset Management, Inc. Class A		2,277		72,818
Ashford Hospitality Trust, Inc. REIT *		3,200		10,272
AssetMark Financial Holdings, Inc. *		2,353		74,002

	Shares		Value
Associated Banc-Corp.		16,751		$ 301,183
Associated Capital Group, Inc. Class A		148		5,469
Atlantic Union Bankshares Corp.		35,066		1,229,063
Atlanticus Holdings Corp. *		224		6,077
Axos Financial, Inc. *		5,530		204,168
Banc of California, Inc.		5,663		70,957
BancFirst Corp.		897		74,541
Banco Latinoamericano de Comercio Exterior SA (Panama)		3,004		52,210
Bancorp, Inc. *		2,450		68,233
Bank First Corp.		844		62,102
Bank of Marin Bancorp		1,904		41,679
Bank of NT Butterfield & Son Ltd. (Bermuda)		5,210		140,670
BankUnited, Inc.		8,095		182,785
Bankwell Financial Group, Inc.		752		18,695
Banner Corp.		3,669		199,484
Bar Harbor Bankshares		1,614		42,690
BayCom Corp.		1,223		20,889
BCB Bancorp, Inc.		1,825		23,962
Berkshire Hills Bancorp, Inc.		4,531		113,547
BGC Partners, Inc. Class A		34,752		181,753
Blackstone Mortgage Trust, Inc. Class A REIT		18,985		338,882
Blue Foundry Bancorp *		2,763		26,304
Blue Ridge Bankshares, Inc.		1,859		18,962
Bluerock Homes Trust, Inc. REIT *		295		5,847
Braemar Hotels & Resorts, Inc. REIT		7,025		27,117
Brandywine Realty Trust REIT		18,538		87,685
Bread Financial Holdings, Inc.		16,981		514,864
Bridgewater Bancshares, Inc. *		1,774		19,230
Brightsphere Investment Group, Inc.		239		5,636
BrightSpire Capital, Inc. REIT		10,234		60,381
Broadmark Realty Capital, Inc. REIT		14,220		66,834
Broadstone Net Lease, Inc. REIT		18,995		323,105
Brookfield Business Corp. Class A (Canada)		377		7,472
Brookline Bancorp, Inc.		8,972		94,206
BRT Apartments Corp. REIT		1,435		28,298
Business First Bancshares, Inc.		2,837		48,598
Byline Bancorp, Inc.		2,935		63,455
Cadence Bank		18,319		380,302
Cambridge Bancorp		746		48,348
Camden National Corp.		25,249		913,761
Cannae Holdings, Inc. *		7,820		157,808
Capital Bancorp, Inc.		982		16,340
Capital City Bank Group, Inc.		1,477		43,291
Capitol Federal Financial, Inc.		13,924		93,709
Capstar Financial Holdings, Inc.		2,221		33,648
CareTrust REIT, Inc.		10,148		198,698
Carter Bankshares, Inc. *		2,603		36,442
Cathay General Bancorp		7,845		270,809
CBL & Associates Properties, Inc. REIT		2,437		62,485
Centerspace REIT		1,645		89,866
Central Pacific Financial Corp.		2,917		52,214
Chatham Lodging Trust REIT		5,235		54,915
Chicago Atlantic Real Estate Finance, Inc.		680		9,187
Chimera Investment Corp. REIT		26,234		147,960
Citizens & Northern Corp.		1,813		38,762
City Holding Co.		1,569		142,591
City Office REIT, Inc.		4,252		29,339
Civista Bancshares, Inc.		1,873		31,616
Claros Mortgage Trust, Inc. REIT		10,177		118,562
Clipper Realty, Inc. REIT		46		264
CNB Financial Corp.		2,455		47,136
CNO Financial Group, Inc.		73,993		1,641,905
Colony Bankcorp, Inc.		1,787		18,227
Columbia Banking System, Inc.		117,071		2,507,661
Columbia Financial, Inc. *		2,616		47,820
Community Bank System, Inc.		5,731		300,820
Community Healthcare Trust, Inc. REIT		1,061		38,833
Community Trust Bancorp, Inc.		1,805		68,500
Compass Diversified Holdings		6,863		130,946
ConnectOne Bancorp, Inc.		4,054		71,675
Consumer Portfolio Services, Inc. *		879		9,397

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

118

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SMALL-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Corporate Office Properties Trust REIT		10,944		$259,482
Crawford & Co. Class A		1,578		13,192
CrossFirst Bankshares, Inc. *		4,873		51,069
Cryptyde, Inc. *		960		80
CTO Realty Growth, Inc. REIT		2,494		43,046
Curo Group Holdings Corp.		738		1,277
Cushman & Wakefield PLC *		22,911		241,482
Customers Bancorp, Inc. *		3,333		61,727
CVB Financial Corp.		14,310		238,691
DiamondRock Hospitality Co. REIT		23,098		187,787
Dime Community Bancshares, Inc.		3,563		80,951
Diversified Healthcare Trust REIT		25,976		35,068
Doma Holdings, Inc. *		15,706		6,400
Donegal Group, Inc. Class A		1,699		25,961
Douglas Elliman, Inc.		7,590		23,605
Dynex Capital, Inc. REIT		5,803		70,332
Eagle Bancorp, Inc.		3,283		109,882
Easterly Government Properties, Inc. REIT		10,040		137,950
Eastern Bankshares, Inc.		13,692		172,793
eHealth, Inc. *		2,162		20,236
Ellington Financial, Inc. REIT		6,925		84,554
Elme Communities REIT		9,351		167,009
Empire State Realty Trust, Inc. Class A REIT		14,531		94,306
Employers Holdings, Inc.		2,883		120,192
Enact Holdings, Inc.		3,339		76,330
Encore Capital Group, Inc. *		2,576		129,959
Enova International, Inc. *		3,387		150,484
Enstar Group Ltd. *		1,251		289,969
Enterprise Bancorp, Inc.		1,131		35,581
Enterprise Financial Services Corp.		4,008		178,717
Equity Bancshares, Inc. Class A		1,642		40,016
Equity Commonwealth REIT		11,547		239,138
Esquire Financial Holdings, Inc.		137		5,357
Essent Group Ltd.		11,711		469,026
Essential Properties Realty Trust, Inc. REIT		14,111		350,658
EZCORP, Inc. Class A *		5,356		46,062
Farmers & Merchants Bancorp, Inc.		946		23,007
Farmers National Banc Corp.		3,813		48,196
Farmland Partners, Inc. REIT		5,452		58,336
FB Financial Corp.		4,128		128,298
Federal Agricultural Mortgage Corp. Class C		1,009		134,389
Finance Of America Cos., Inc. Class A *		4,239		5,256
Financial Institutions, Inc.		1,650		31,812
First BanCorp		17,921		204,658
First Bancorp, Inc.		1,195		30,939
First Bancorp/Southern Pines NC		16,172		574,429
First Bancshares, Inc.		2,909		75,139
First Bank		1,783		18,008
First Busey Corp.		5,936		120,738
First Business Financial Services, Inc.		979		29,869
First Commonwealth Financial Corp.		10,836		134,691
First Community Bankshares, Inc.		1,723		43,161
First Financial Bancorp		10,003		217,765
First Financial Corp.		1,320		49,474
First Foundation, Inc.		5,586		41,616
First Guaranty Bancshares, Inc.		525		8,227
First Internet Bancorp		886		14,752
First Interstate BancSystem, Inc. Class A		99,404		2,968,203
First Merchants Corp.		6,471		213,219
First Mid Bancshares, Inc.		2,035		55,393
First of Long Island Corp.		9,011		121,648
First Western Financial, Inc. *		862		17,068
Five Star Bancorp		891		19,014
Flushing Financial Corp.		3,390		50,477
Four Corners Property Trust, Inc. REIT		8,362		224,603
Franklin BSP Realty Trust, Inc. REIT		9,062		108,110
Franklin Street Properties Corp. REIT		10,751		16,879
FRP Holdings, Inc. *		732		42,368
Fulton Financial Corp.		18,169		251,096
FVCBankcorp, Inc. *		1,543		16,433
GCM Grosvenor, Inc. Class A		624		4,873
Genworth Financial, Inc. Class A *		53,118		266,652

	Shares		Value
German American Bancorp, Inc.		33,533		$1,118,996
Getty Realty Corp. REIT		4,508		162,423
Glacier Bancorp, Inc.		10,729		450,725
Gladstone Commercial Corp. REIT		415		5,241
Gladstone Land Corp. REIT		1,612		26,840
Global Medical REIT, Inc.		6,665		60,718
Global Net Lease, Inc. REIT		11,596		149,125
Goosehead Insurance, Inc. Class A *		245		12,789
Granite Point Mortgage Trust, Inc. REIT		5,671		28,128
Great Southern Bancorp, Inc.		1,019		51,643
Greenlight Capital Re Ltd. Class A *		2,854		26,799
Guaranty Bancshares, Inc.		1,014		28,260
Hancock Whitney Corp.		9,492		345,509
Hanmi Financial Corp.		3,306		61,392
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT		9,013		257,772
Hanover Insurance Group, Inc.		29,048		3,732,668
HarborOne Bancorp, Inc.		4,780		58,316
HBT Financial, Inc.		1,416		27,924
Heartland Financial USA, Inc.		4,674		179,295
Heritage Commerce Corp.		6,845		57,019
Heritage Financial Corp.		3,778		80,849
Hersha Hospitality Trust REIT		3,241		21,780
Highwoods Properties, Inc. REIT		23,327		540,953
Hilltop Holdings, Inc.		5,602		166,211
Hingham Institution For Savings		164		38,284
Hippo Holdings, Inc. *		1,876		30,447
Home Bancorp, Inc.		798		26,358
Home BancShares, Inc.		20,883		453,370
Home Point Capital, Inc.		1,000		1,930
HomeStreet, Inc.		1,961		35,278
HomeTrust Bancshares, Inc.		1,431		35,188
Hope Bancorp, Inc.		12,333		121,110
Horace Mann Educators Corp.		60,521		2,026,243
Horizon Bancorp, Inc.		4,720		52,203
Independence Realty Trust, Inc. REIT		24,895		399,067
Independent Bank Corp.		4,918		322,719
Independent Bank Corp. MI		2,197		39,041
Independent Bank Group, Inc.		3,941		182,665
Indus Realty Trust, Inc. REIT		583		38,647
Industrial Logistics Properties Trust REIT		6,721		20,633
International Bancshares Corp.		5,961		255,250
InvenTrust Properties Corp. REIT		7,477		174,962
Invesco Mortgage Capital, Inc. REIT		3,886		43,096
Investors Title Co.		118		17,818
iStar, Inc. REIT *		2,664		78,248
Jackson Financial, Inc. Class A		8,261		309,044
James River Group Holdings Ltd.		4,015		82,910
John Marshall Bancorp, Inc.		1,261		27,238
Kearny Financial Corp.		6,495		52,739
Kennedy-Wilson Holdings, Inc.		13,005		215,753
Kite Realty Group Trust REIT		24,016		502,415
KKR Real Estate Finance Trust, Inc. REIT		6,327		72,065
Ladder Capital Corp. REIT		12,025		113,636
Lakeland Bancorp, Inc.		7,215		112,843
Lakeland Financial Corp.		204		12,779
Legacy Housing Corp. *		1,004		22,851
Lemonade, Inc. *		5,359		76,419
LendingClub Corp. *		10,927		78,784
Live Oak Bancshares, Inc.		747		18,204
LTC Properties, Inc. REIT		4,426		155,485
Luther Burbank Corp.		1,979		18,761
LXP Industrial Trust REIT		29,967		308,960
Macatawa Bank Corp.		3,214		32,847
Macerich Co. REIT		23,719		251,421
MBIA, Inc. *		5,245		48,569
McGrath RentCorp		32,054		2,990,959
Mercantile Bank Corp.		1,808		55,289
Merchants Bancorp		1,718		44,737
Mercury General Corp.		2,922		92,744
Metrocity Bankshares, Inc.		1,540		26,319
Metropolitan Bank Holding Corp. *		1,043		35,347

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

119

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SMALL-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
MFA Financial, Inc. REIT		11,551		$114,586
Mid Penn Bancorp, Inc.		1,697		43,460
Midland States Bancorp, Inc.		2,312		49,523
MidWestOne Financial Group, Inc.		1,545		37,729
Moelis & Co. Class A		3,584		137,769
Mr Cooper Group, Inc. *		7,649		313,380
MVB Financial Corp.		1,215		25,078
National Bank Holdings Corp. Class A		2,865		95,863
National Health Investors, Inc. REIT		4,632		238,919
National Western Life Group, Inc. Class A		248		60,170
Navient Corp.		11,289		180,511
NBT Bancorp, Inc.		4,469		150,650
Necessity Retail REIT, Inc. REIT		14,595		91,657
Nelnet, Inc. Class A		1,597		146,748
NETSTREIT Corp. REIT		6,094		111,398
New York Mortgage Trust, Inc. REIT *		10,103		100,626
Newmark Group, Inc. Class A		13,667		96,762
Nexpoint Real Estate Finance, Inc. REIT		898		14,072
NexPoint Residential Trust, Inc. REIT		145		6,332
NI Holdings, Inc. *		882		11,466
Nicolet Bankshares, Inc. *		1,247		78,623
NMI Holdings, Inc. Class A *		8,511		190,051
Northeast Bank		783		26,356
Northfield Bancorp, Inc.		4,663		54,930
Northwest Bancshares, Inc.		12,995		156,330
OceanFirst Financial Corp.		6,696		123,742
Office Properties Income Trust REIT		5,235		64,391
OFG Bancorp		4,954		123,553
Old National Bancorp		32,608		470,207
Old Second Bancorp, Inc.		4,626		65,042
One Liberty Properties, Inc. REIT		1,782		40,861
Oportun Financial Corp. *		3,586		13,842
Oppenheimer Holdings, Inc. Class A		861		33,708
OppFi, Inc. *		63		129
Orchid Island Capital, Inc. REIT		4,374		46,933
Origin Bancorp, Inc.		2,594		83,397
Orion Office REIT, Inc. REIT		6,216		41,647
Orrstown Financial Services, Inc.		1,041		20,674
Pacific Premier Bancorp, Inc.		10,063		241,713
Paramount Group, Inc. REIT		20,453		93,266
Park National Corp.		1,580		187,341
Parke Bancorp, Inc.		1,104		19,629
Pathward Financial, Inc.		2,075		86,092
PCB Bancorp		1,166		16,895
Peapack-Gladstone Financial Corp.		2,059		60,988
Pebblebrook Hotel Trust REIT		13,926		195,521
PennyMac Financial Services, Inc.		2,974		177,280
PennyMac Mortgage Investment Trust REIT		7,841		96,680
Peoples Bancorp, Inc.		46,852		1,206,439
Peoples Financial Services Corp.		764		33,119
Perella Weinberg Partners		454		4,131
Physicians Realty Trust REIT		25,083		374,489
Piedmont Office Realty Trust, Inc. Class A REIT		14,127		103,127
Pioneer Bancorp, Inc. *		1,373		13,538
Piper Sandler Cos.		1,925		266,824
Plymouth Industrial REIT, Inc. REIT		4,115		86,456
Postal Realty Trust, Inc. Class A REIT		823		12,526
PotlatchDeltic Corp. REIT		7,947		393,376
PRA Group, Inc. *		4,263		166,086
Preferred Bank		787		43,135
Premier Financial Corp.		4,073		84,433
Primis Financial Corp.		2,831		27,263
ProAssurance Corp.		5,888		108,810
Provident Bancorp, Inc.		1,742		11,915
Provident Financial Services, Inc.		7,815		149,892
QCR Holdings, Inc.		1,729		75,920
Radian Group, Inc.		16,900		373,490
Radius Global Infrastructure, Inc. Class A *		8,458		124,079
RBB Bancorp		1,760		27,280
RE/MAX Holdings, Inc. Class A		1,941		36,413
Ready Capital Corp. REIT		7,816		79,489
Red River Bancshares, Inc.		476		22,900

	Shares		Value
Redwood Trust, Inc. REIT		12,371		$ 83,381
Regional Management Corp.		827		21,576
Renasant Corp.		5,867		179,413
Republic Bancorp, Inc. Class A		950		40,309
Republic First Bancorp, Inc. *		6,542		8,897
Retail Opportunity Investments Corp. REIT		13,745		191,880
RLJ Lodging Trust REIT		18,021		191,023
RMR Group, Inc. Class A		700		18,368
Root, Inc. Class A *		993		4,478
RPT Realty REIT		9,227		87,749
Ryman Hospitality Properties, Inc. REIT		5,936		532,637
S&T Bancorp, Inc.		4,160		130,832
Sabra Health Care REIT, Inc.		25,567		294,020
Safety Insurance Group, Inc.		1,506		112,227
Sandy Spring Bancorp, Inc.		5,010		130,160
Saul Centers, Inc. REIT		161		6,279
Sculptor Capital Management, Inc.		1,395		12,011
Seacoast Banking Corp. of Florida		24,996		592,405
Selective Insurance Group, Inc.		13,739		1,309,739
Selectquote, Inc. *		14,784		32,081
Service Properties Trust REIT		18,087		180,147
Shore Bancshares, Inc.		2,208		31,530
Sierra Bancorp		1,700		29,274
Simmons First National Corp. Class A		13,052		228,279
SiriusPoint Ltd. * (Bermuda)		9,236		75,089
SITE Centers Corp. REIT		21,380		262,546
Skyward Specialty Insurance Group, Inc. *		917		20,055
SmartFinancial, Inc.		1,877		43,434
South Plains Financial, Inc.		1,227		26,270
Southern First Bancshares, Inc. *		828		25,420
Southern Missouri Bancorp, Inc.		930		34,791
Southside Bancshares, Inc.		3,176		105,443
SouthState Corp.		46,349		3,302,830
STAG Industrial, Inc. REIT		50,278		1,700,402
Star Holdings *		1,475		25,650
Stellar Bancorp, Inc.		5,083		125,093
Sterling Bancorp, Inc. *		1,711		9,684
Stewart Information Services Corp.		2,930		118,225
Stock Yards Bancorp, Inc.		491		27,074
StoneX Group, Inc. *		1,766		182,834
Stratus Properties, Inc.		727		14,540
Summit Financial Group, Inc.		1,215		25,211
Summit Hotel Properties, Inc. REIT		11,441		80,087
Sunlight Financial Holdings, Inc. *		3,199		999
Sunstone Hotel Investors, Inc. REIT		224,795		2,220,975
SWK Holdings Corp. *		437		7,805
Terreno Realty Corp. REIT		8,864		572,614
Texas Capital Bancshares, Inc. *		5,418		265,265
Third Coast Bancshares, Inc. *		1,246		19,575
Tiptree, Inc.		2,705		39,412
Tompkins Financial Corp.		1,516		100,374
Towne Bank		7,785		207,470
TPG RE Finance Trust, Inc. REIT		7,529		54,661
Transcontinental Realty Investors, Inc. REIT *		82		3,476
Trean Insurance Group, Inc. *		2,366		14,480
TriCo Bancshares		29,111		1,210,726
Triumph Financial, Inc. *		1,582		91,851
TrustCo Bank Corp.		2,048		65,413
Trustmark Corp.		6,555		161,908
Two Harbors Investment Corp. REIT		10,673		157,000
UMB Financial Corp.		4,849		279,884
UMH Properties, Inc. REIT		934		13,814
United Bankshares, Inc.		14,014		493,293
United Community Banks, Inc.		11,410		320,849
United Fire Group, Inc.		2,332		61,915
Uniti Group, Inc. REIT		25,918		92,009
Unity Bancorp, Inc.		778		17,746
Universal Insurance Holdings, Inc.		2,313		42,143
Univest Financial Corp.		3,337		79,220
Urban Edge Properties REIT		13,002		195,810
Urstadt Biddle Properties, Inc. Class A REIT		3,119		54,801
USCB Financial Holdings, Inc. *		1,135		11,225

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

120

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SMALL-CAP EQUITY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Valley National Bancorp		47,957		$ 443,123
Velocity Financial, Inc. *		901		8,136
Veris Residential, Inc. REIT *		9,548		139,783
Veritex Holdings, Inc.		4,882		89,145
Victory Capital Holdings, Inc. Class A		1,364		39,924
Virtus Investment Partners, Inc.		655		124,705
Walker & Dunlop, Inc.		1,022		77,846
Washington Federal, Inc.		6,955		209,485
Washington Trust Bancorp, Inc.		2,013		69,771
Waterstone Financial, Inc.		2,066		31,259
WesBanco, Inc.		6,309		193,686
West BanCorp, Inc.		1,421		25,962
Westamerica BanCorp		2,134		94,536
Whitestone REIT		5,108		46,994
World Acceptance Corp. *		119		9,912
WSFS Financial Corp.		58,054		2,183,411
Xenia Hotels & Resorts, Inc. REIT		12,226		160,038
				76,040,779
Industrial - 15.8%
908 Devices, Inc. *		1,721		14,801
AAR Corp. *		3,645		198,835
Aerojet Rocketdyne Holdings, Inc. *		2,170		121,889
AerSale Corp. *		2,823		48,612
Air Transport Services Group, Inc. *		3,926		81,779
Akoustis Technologies, Inc. *		118		363
Alamo Group, Inc.		165		30,386
Albany International Corp. Class A		2,769		247,438
Allied Motion Technologies, Inc.		103		3,981
American Woodmark Corp. *		1,703		88,675
AMMO, Inc. *		8,916		17,565
Apogee Enterprises, Inc.		12,359		534,527
ArcBest Corp.		1,807		167,003
Archer Aviation, Inc. Class A *		15,832		45,280
Arcosa, Inc.		5,332		336,503
Ardmore Shipping Corp. (Ireland)		4,465		66,395
Argan, Inc.		1,399		56,618
Astec Industries, Inc.		9,741		401,816
Astra Space, Inc. *		18,411		7,825
Astronics Corp. *		2,796		37,355
Atlas Technical Consultants, Inc. *		750		9,143
Barnes Group, Inc.		5,455		219,727
Belden, Inc.		2,188		189,853
Benchmark Electronics, Inc.		60,770		1,439,641
Boise Cascade Co.		3,454		218,465
Brady Corp. Class A		1,179		63,348
Caesarstone Ltd.		2,163		8,933
Centrus Energy Corp. Class A *		1,106		35,613
Chase Corp.		619		64,828
CIRCOR International, Inc. *		1,439		44,782
Clearwater Paper Corp. *		1,826		61,025
Coherent Corp. *		79,292		3,019,439
Columbus McKinnon Corp.		40,507		1,505,240
Comtech Telecommunications Corp.		2,826		35,268
Concrete Pumping Holdings, Inc. *		2,786		18,945
Costamare, Inc. (Monaco)		5,769		54,286
Covenant Logistics Group, Inc.		1,016		35,987
CryoPort, Inc. *		833		19,992
CTS Corp.		1,781		88,088
DHT Holdings, Inc.		15,084		163,058
Dorian LPG Ltd.		3,354		66,879
Ducommun, Inc. *		1,209		66,144
DXP Enterprises, Inc. *		1,663		44,768
Eagle Bulk Shipping, Inc.		1,466		66,703
Eastman Kodak Co. *		6,242		25,592
Encore Wire Corp.		1,948		361,023
EnerSys		4,001		347,607
EnPro Industries, Inc.		2,300		238,947
ESCO Technologies, Inc.		2,583		246,547
ESS Tech, Inc. *		1,074		1,493
Evolv Technologies Holdings, Inc. *		9,155		28,564

	Shares		Value
FARO Technologies, Inc. *		1,900		$ 46,759
Fathom Digital Manufacturing C Class A *		1,446		785
FLEX LNG Ltd. * (Norway)		3,173		106,549
Fluor Corp. *		1,352		41,790
Frontdoor, Inc. *		9,120		254,266
Frontline PLC (Norway)		13,726		227,303
GATX Corp.		3,643		400,803
Genco Shipping & Trading Ltd.		4,004		62,703
Gibraltar Industries, Inc. *		3,473		168,440
Golden Ocean Group Ltd. * (Norway)		13,542		128,920
GoPro, Inc. Class A *		14,633		73,604
Gorman-Rupp Co.		2,032		50,800
Granite Construction, Inc.		4,890		200,881
Great Lakes Dredge & Dock Corp. *		5,396		29,300
Greenbrier Cos., Inc.		30,756		989,421
Greif, Inc. Class A		2,372		150,314
Greif, Inc. Class B		482		36,883
Griffon Corp.		2,338		74,839
Harsco Corp. *		8,578		58,588
Heartland Express, Inc.		5,102		81,224
Heritage-Crystal Clean, Inc. *		1,712		60,964
Hillenbrand, Inc.		3,812		181,184
Hillman Solutions Corp. *		14,947		125,854
Hub Group, Inc. Class A *		3,554		298,323
Hydrofarm Holdings Group, Inc. *		5,642		9,761
Hyster-Yale Materials Handling, Inc.		1,184		59,070
Ichor Holdings Ltd. *		3,064		100,315
IES Holdings, Inc. *		305		13,142
Insteel Industries, Inc.		2,491		69,300
International Seaways, Inc.		5,362		223,488
Itron, Inc. *		4,599		255,015
JELD-WEN Holding, Inc. *		5,739		72,656
Joby Aviation, Inc. *		2,206		9,574
Kaman Corp.		3,061		69,974
Kennametal, Inc.		9,027		248,965
Kimball Electronics, Inc. *		2,618		63,094
Knowles Corp. *		139,683		2,374,611
Kratos Defense & Security Solutions, Inc. *		13,742		185,242
Li-Cycle Holdings Corp. * (Canada)		9,209		51,847
Luxfer Holdings PLC (United Kingdom)		1,720		29,068
Manitowoc Co., Inc. *		3,790		64,771
Marten Transport Ltd.		1,624		34,023
Masonite International Corp. *		14,563		1,321,884
Materion Corp.		126		14,616
Matson, Inc.		4,135		246,735
Mirion Technologies, Inc. *		15,135		129,253
Modine Manufacturing Co. *		5,488		126,498
Momentus, Inc. *		4,527		2,648
Moog, Inc. Class A		2,626		264,569
Mueller Industries, Inc.		3,935		289,144
National Presto Industries, Inc.		560		40,370
NEXTracker, Inc. Class A *		408		14,794
NL Industries, Inc.		952		5,769
nLight, Inc. *		4,852		49,393
Nordic American Tankers Ltd.		22,418		88,775
Northwest Pipe Co. *		834		26,046
NuScale Power Corp. *		3,423		31,115
O-I Glass, Inc. *		3,176		72,127
Olympic Steel, Inc.		1,048		54,716
OSI Systems, Inc. *		1,580		161,729
Pactiv Evergreen, Inc.		4,721		37,768
Park Aerospace Corp.		2,105		28,312
Plexus Corp. *		438		42,736
Powell Industries, Inc.		998		42,505
Primoris Services Corp.		51,574		1,271,815
Proto Labs, Inc. *		2,488		82,477
PureCycle Technologies, Inc. *		2,285		15,995
Radiant Logistics, Inc. *		2,816		18,473
Ranpak Holdings Corp. *		4,843		25,280
RBC Bearings, Inc. *		2,691		626,276
Redwire Corp. *		1,392		4,218
Regal Rexnord Corp.		13,980		1,967,405

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

121

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Ryerson Holding Corp.		12,866		$ 468,065
Safe Bulkers, Inc. (Greece)		7,469		27,561
Saia, Inc. *		3,584		975,135
Sanmina Corp. *		6,279		382,956
Scorpio Tankers, Inc. (Monaco)		5,179		291,629
Senior PLC (United Kingdom)		126,925		245,822
SFL Corp. Ltd. (Norway)		12,647		120,147
Sight Sciences, Inc. *		2,143		18,730
Smith & Wesson Brands, Inc.		4,627		56,958
SPX Technologies, Inc. *		4,822		340,337
Standex International Corp.		1,314		160,886
Stantec, Inc. (Canada)		31,013		1,813,050
Sterling Infrastructure, Inc. *		506		19,167
Stoneridge, Inc. *		2,433		45,497
Sturm Ruger & Co., Inc.		178		10,224
Summit Materials, Inc. Class A *		77,694		2,213,502
Teekay Corp. * (Bermuda)		7,534		46,560
Teekay Tankers Ltd. Class A * (Canada)		2,497		107,196
Tennant Co.		1,127		77,233
Terex Corp.		3,746		181,231
Thermon Group Holdings, Inc. *		3,617		90,136
Timken Co.		5,199		424,862
TimkenSteel Corp. *		4,832		88,619
Tredegar Corp.		2,969		27,107
TriMas Corp.		4,649		129,521
Trinity Industries, Inc.		7,723		188,132
Triumph Group, Inc. *		6,995		81,072
TTM Technologies, Inc. *		11,202		151,115
Turtle Beach Corp. *		404		4,048
Tutor Perini Corp. *		4,593		28,339
UFP Industries, Inc.		42,266		3,358,879
Universal Logistics Holdings, Inc.		251		7,317
View, Inc. *		15,507		7,754
Vishay Intertechnology, Inc.		14,279		322,991
Vishay Precision Group, Inc. *		1,357		56,668
Werner Enterprises, Inc.		6,154		279,945
Worthington Industries, Inc.		3,479		224,917
Zurn Elkay Water Solutions Corp.		24,349		520,095
				39,778,831
Technology - 6.0%
3D Systems Corp. *		14,179		151,999
ACI Worldwide, Inc. *		180,858		4,879,549
ACM Research, Inc. Class A *		4,534		53,048
ACV Auctions, Inc. Class A *		6,576		84,896
Adeia, Inc.		11,522		102,085
Alpha & Omega Semiconductor Ltd. *		483		13,017
American Software, Inc. Class A		975		12,295
Amkor Technology, Inc.		8,924		232,202
Avid Technology, Inc. *		1,413		45,188
AvidXchange Holdings, Inc. *		1,621		12,644
AXT, Inc. *		4,161		16,561
Bandwidth, Inc. Class A *		2,049		31,145
Blackbaud, Inc. *		268		18,572
Blend Labs, Inc. Class A *		20,672		20,593
Brightcove, Inc. *		1,489		6,626
C3.ai, Inc. Class A *		5,361		179,969
Cantaloupe, Inc. *		2,498		14,239
Cardlytics, Inc. *		3,708		12,589
Cerence, Inc. *		4,494		126,236
Cohu, Inc. *		54,718		2,100,624
Computer Programs & Systems, Inc. *		1,531		46,236
Conduent, Inc. *		18,540		63,592
Consensus Cloud Solutions, Inc. *		1,072		36,544
Corsair Gaming, Inc. *		1,944		35,672
Cvent Holding Corp. *		5,013		41,909
Daily Journal Corp. *		132		37,615
Desktop Metal, Inc. Class A *		29,275		67,332
Diebold Nixdorf, Inc. *		2,260		2,712
Digi International, Inc. *		2,510		84,537
Digimarc Corp. *		96		1,886

	Shares		Value
Diodes, Inc. *		1,287		$ 119,382
Donnelley Financial Solutions, Inc. *		2,637		107,748
E2open Parent Holdings, Inc. *		22,280		129,670
Ebix, Inc.		2,268		29,915
eGain Corp. *		1,396		10,596
EverCommerce, Inc. *		2,269		24,006
Faraday Future Intelligent Electric, Inc. *		28,056		9,935
Fastly, Inc. Class A *		12,549		222,870
ForgeRock, Inc. Class A *		1,345		27,707
Health Catalyst, Inc. *		5,990		69,903
Impinj, Inc. *		216		29,272
Insight Enterprises, Inc. *		538		76,912
Inspired Entertainment, Inc. *		892		11,409
Instructure Holdings, Inc. *		1,625		42,087
Integral Ad Science Holding Corp. *		2,819		40,227
IonQ, Inc. *		11,407		70,153
Kaleyra, Inc. * (Italy)		1,013		1,671
Latch, Inc. *		8,948		6,819
LiveVox Holdings, Inc. *		1,828		5,649
Markforged Holding Corp. *		9,299		8,916
Matterport, Inc. *		6,636		18,116
Maximus, Inc.		370		29,119
MicroStrategy, Inc. Class A *		438		128,036
Mitek Systems, Inc. *		275		2,637
N-Able, Inc. *		877		11,576
NetScout Systems, Inc. *		64,818		1,857,036
NextGen Healthcare, Inc. *		3,103		54,023
Olo, Inc. Class A *		9,820		80,131
ON24, Inc. *		4,622		40,489
OneSpan, Inc. *		2,796		48,930
Onto Innovation, Inc. *		19,972		1,755,139
Ouster, Inc. *		30,534		25,548
Outbrain, Inc. *		4,166		17,206
PAR Technology Corp. *		1,810		61,468
Parsons Corp. *		3,734		167,059
Pear Therapeutics, Inc. *		5,232		1,334
Photronics, Inc. *		1,787		29,628
Phreesia, Inc. *		2,893		93,415
Playstudios, Inc. *		4,122		15,210
Porch Group, Inc. *		7,954		11,374
PowerSchool Holdings, Inc. Class A *		3,252		64,455
PROS Holdings, Inc. *		1,599		43,813
PubMatic, Inc. Class A *		573		7,919
Rackspace Technology, Inc. *		5,957		11,199
Rambus, Inc. *		1,948		99,854
Rigetti Computing, Inc. Class A *		9,322		6,744
Sapiens International Corp. NV (Israel)		962		20,895
SecureWorks Corp. Class A *		1,266		10,850
Sharecare, Inc. *		32,554		46,227
Skillsoft Corp. *		8,492		16,984
Skillz, Inc. *		32,696		19,395
SolarWinds Corp. *		5,273		45,348
Sumo Logic, Inc. *		4,507		53,994
Ultra Clean Holdings, Inc. *		3,322		110,157
Unisys Corp. *		1,994		7,737
Upland Software, Inc. *		2,969		12,767
Veeco Instruments, Inc. *		1,244		26,286
Veradigm, Inc. *		11,864		154,825
Verint Systems, Inc. *		637		23,722
Vuzix Corp. *		1,145		4,740
Xerox Holdings Corp.		12,729		196,027
				15,008,371
Utilities - 3.5%
ALLETE, Inc.		6,322		406,947
Altus Power, Inc. *		6,731		36,886
American States Water Co.		2,130		189,336
Artesian Resources Corp. Class A		298		16,497
Avista Corp.		7,919		336,162
Black Hills Corp.		27,496		1,734,998
California Water Service Group		4,422		257,360

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

122

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Chesapeake Utilities Corp.		808		$ 103,416
IDACORP, Inc.		13,888		1,504,487
MGE Energy, Inc.		2,306		179,107
New Jersey Resources Corp.		9,750		518,700
Northwest Natural Holding Co.		3,865		183,819
NorthWestern Corp.		6,399		370,246
ONE Gas, Inc.		5,939		470,547
Ormat Technologies, Inc.		2,554		216,503
Otter Tail Corp.		2,510		181,398
PNM Resources, Inc.		9,385		456,862
Portland General Electric Co.		9,887		483,375
SJW Group		2,983		227,096
Southwest Gas Holdings, Inc. *		6,727		420,101
Spire, Inc.		5,611		393,556
Unitil Corp.		1,750		99,820
Via Renewables, Inc. *		46		845
				8,788,064
Total Common Stocks (Cost $274,469,159)				246,165,819
	Principal Amount
SHORT-TERM INVESTMENTS - 2.1%
Repurchase Agreement - 1.0%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $2,566,531; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $2,616,976)		$2,565,580		2,565,580
U.S. Government Agency Issue - 1.1%
Federal Home Loan Bank 4.412% due 04/03/23		2,735,000		2,735,000
Total Short-Term Investments (Cost $5,299,919)				5,300,580
TOTAL INVESTMENTS - 99.9% (Cost $279,769,078)				251,466,801
DERIVATIVES - 0.0%				34,539
OTHER ASSETS & LIABILITIES, NET - 0.1%				193,554
NET ASSETS - 100.0%				$251,694,894

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $391 or less than 0.1% of the Fund’s net assets were valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or the Board of Trustees.

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

123

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(b) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month		Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Micro Russell 2000 E-Mini Index		06/23		222		$1,978,446		$2,012,985		$34,539

(c) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Rights
	Basic Materials		$11		$11		$-		$-
	Consumer, Non-Cyclical		391		-		-		391
	Total Rights		402		11		-		391
	Common Stocks
	Basic Materials		15,922,451		15,922,451		-		-
	Communications		4,322,476		4,322,476		-		-
	Consumer, Cyclical		32,048,692		30,958,760		1,089,932		-
	Consumer, Non-Cyclical		37,779,152		33,123,155		4,655,997		-
	Energy		16,477,003		16,477,003		-		-
	Financial		76,040,779		76,040,779		-		-
	Industrial		39,778,831		39,778,831		-		-
	Technology		15,008,371		15,008,371		-		-
	Utilities		8,788,064		8,788,064		-		-
	Total Common Stocks		246,165,819		240,419,890		5,745,929		-
	Short-Term Investments		5,300,580		-		5,300,580		-
	Derivatives:
	Equity Contracts
	Futures		34,539		34,539		-		-
	Total		$251,501,340		$240,454,440		$11,046,509		$391

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

124

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Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
WARRANTS - 0.0%
Consumer, Non-Cyclical - 0.0%
Optinose, Inc. Exercise @ $2.57 Exp 11/23/27 *		73,697		$-
Total Warrants (Cost $737)				-
COMMON STOCKS - 94.6%
Basic Materials - 5.5%
Axalta Coating Systems Ltd. *		192,802		5,839,973
Element Solutions, Inc.		269,334		5,200,840
Ingevity Corp. *		62,468		4,467,711
				15,508,524
Communications - 1.6%
Q2 Holdings, Inc. *		91,191		2,245,122
Vivid Seats, Inc. Class A *		293,784		2,241,572
				4,486,694
Consumer, Cyclical - 14.4%
Brunswick Corp.		51,101		4,190,282
Five Below, Inc. *		14,396		2,965,144
Funko, Inc. Class A *		113,114		1,066,665
Genius Sports Ltd. * (United Kingdom)		371,462		1,849,881
Leslie’s, Inc. *		112,064		1,233,825
Manchester United PLC Class A (United Kingdom)		53,141		1,177,073
Methode Electronics, Inc.		78,324		3,436,857
Ollie’s Bargain Outlet Holdings, Inc. *		84,472		4,894,308
On Holding AG Class A * (Switzerland)		77,541		2,406,097
Penn Entertainment, Inc. *		172,086		5,104,071
Petco Health & Wellness Co., Inc. *		256,128		2,305,152
Skechers USA, Inc. Class A *		97,014		4,610,105
Univar Solutions, Inc. *		50,403		1,765,617
Visteon Corp. *		24,056		3,772,702
				40,777,779
Consumer, Non-Cyclical - 24.2%
Abcam PLC ADR * (United Kingdom)		226,530		3,049,094
Adaptive Biotechnologies Corp. *		120,478		1,063,821
Allovir, Inc. *		67,907		267,554
Annexon, Inc. *		64,988		250,204
BioAtla, Inc. *		43,207		115,795
Bioxcel Therapeutics, Inc. *		28,724		535,990
Boyd Group Services, Inc. (Canada)		16,823		2,689,190
Bright Horizons Family Solutions, Inc. *		36,558		2,814,600
Bruker Corp.		50,147		3,953,589
Certara, Inc. *		85,984		2,073,074
Collegium Pharmaceutical, Inc. *		53,078		1,273,341
Duckhorn Portfolio, Inc. *		197,293		3,136,959
Envista Holdings Corp. *		139,510		5,703,169
European Wax Center, Inc. Class A		153,787		2,921,953
Harmony Biosciences Holdings, Inc. *		32,116		1,048,587
HealthEquity, Inc. *		56,973		3,344,885
Immunocore Holdings PLC ADR * (United Kingdom)		29,249		1,446,071
Kymera Therapeutics, Inc. *		26,283		778,765
Legend Biotech Corp. ADR *		24,878		1,199,617
Lyell Immunopharma, Inc. *		85,941		202,821
Maravai LifeSciences Holdings, Inc. Class A *		85,673		1,200,279
MaxCyte, Inc. *		154,563		765,087
Neurocrine Biosciences, Inc. *		13,184		1,334,484
Nuvei Corp. * ~ (Canada)		80,720		3,513,338
Oatly Group AB ADR *		307,730		744,707

	Shares		Value
Optinose, Inc. *		238,386		$ 460,085
Oxford Nanopore Technologies PLC * (United Kingdom)		272,219		746,353
Paylocity Holding Corp. *		9,057		1,800,350
Payoneer Global, Inc. *		387,458		2,433,236
Prelude Therapeutics, Inc. *		41,703		237,707
PROCEPT BioRobotics Corp. *		42,224		1,199,162
Remitly Global, Inc. *		130,149		2,206,025
Ritchie Bros Auctioneers, Inc. (Canada)		86,485		4,868,241
Sabre Corp. *		443,724		1,903,576
Sana Biotechnology, Inc. *		66,462		217,331
Shockwave Medical, Inc. *		11,649		2,525,853
Silk Road Medical, Inc. *		35,471		1,387,980
SpringWorks Therapeutics, Inc. *		37,841		974,027
TriNet Group, Inc. *		26,274		2,117,947
				68,504,847
Energy - 5.7%
ChampionX Corp.		239,597		6,500,267
Magnolia Oil & Gas Corp. Class A		129,925		2,842,759
Matador Resources Co.		85,404		4,069,500
Permian Resources Corp.		278,538		2,924,649
				16,337,175
Financial - 5.1%
First Interstate BancSystem, Inc. Class A		10,385		310,096
GCM Grosvenor, Inc. Class A		260,777		2,036,669
Hamilton Lane, Inc. Class A		41,444		3,066,027
Pacific Premier Bancorp, Inc.		15,994		384,176
STAG Industrial, Inc. REIT		135,005		4,565,869
WisdomTree, Inc.		682,936		4,002,005
				14,364,842
Industrial - 17.1%
Advanced Energy Industries, Inc.		36,351		3,562,398
AeroVironment, Inc. *		16,437		1,506,615
AZEK Co., Inc. *		85,459		2,011,705
Cactus, Inc. Class A		96,405		3,974,778
Crane Co. *		5,840		435,664
CryoPort, Inc. *		65,477		1,571,448
Gerresheimer AG (Germany)		38,081		3,775,961
GFL Environmental, Inc. (Canada)		213,251		7,344,365
Jacobs Solutions, Inc.		44,427		5,220,617
Knight-Swift Transportation Holdings, Inc.		73,841		4,177,924
Kratos Defense & Security Solutions, Inc. *		79,132		1,066,699
Littelfuse, Inc.		12,164		3,261,047
NEXTracker, Inc. Class A *		22,355		810,592
Saia, Inc. *		6,455		1,756,276
Sensata Technologies Holding PLC		134,627		6,734,043
Trex Co., Inc. *		26,854		1,306,984
				48,517,116
Technology - 21.0%
ACV Auctions, Inc. Class A *		169,423		2,187,251
Alkami Technology, Inc. *		171,230		2,167,772
Allegro MicroSystems, Inc. * (Japan)		30,703		1,473,437
CACI International, Inc. Class A *		9,200		2,725,776
Corsair Gaming, Inc. *		68,645		1,259,636
Definitive Healthcare Corp. *		156,109		1,612,606
DoubleVerify Holdings, Inc. *		104,506		3,150,856
ExlService Holdings, Inc. *		36,393		5,889,479
Five9, Inc. *		51,331		3,710,718
FormFactor, Inc. *		61,840		1,969,604
KBR, Inc.		64,270		3,538,064
Keywords Studios PLC (Ireland)		94,308		3,208,610
Kinaxis, Inc. * (Canada)		19,302		2,650,151
nCino, Inc. *		56,680		1,404,530
Outset Medical, Inc. *		40,476		744,758
Paycor HCM, Inc. *		132,095		3,503,159
Procore Technologies, Inc. *		46,084		2,886,241

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

125

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SMALL-CAP GROWTH PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Rapid7, Inc. *		53,984		$ 2,478,405
TaskUS, Inc. Class A * (Philippines)		171,797		2,480,749
Thoughtworks Holding, Inc. *		439,968		3,238,165
WNS Holdings Ltd. ADR * (India)		78,490		7,312,913
				59,592,880
Total Common Stocks (Cost $295,671,779)				268,089,857
	Principal Amount
SHORT-TERM INVESTMENT - 5.0%
Repurchase Agreement - 5.0%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $14,072,617; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $14,348,815)		$14,067,400		14,067,400
Total Short-Term Investment (Cost $14,067,400)				14,067,400
TOTAL INVESTMENTS - 99.6% (Cost $309,739,916)				282,157,257
OTHER ASSETS & LIABILITIES, NET - 0.4%				1,112,807
NET ASSETS - 100.0%				$283,270,064

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Basic Materials		$15,508,524		$15,508,524		$-		$-
	Communications		4,486,694		4,486,694		-		-
	Consumer, Cyclical		40,777,779		40,777,779		-		-
	Consumer, Non-Cyclical		68,504,847		67,758,494		746,353		-
	Energy		16,337,175		16,337,175		-		-
	Financial		14,364,842		14,364,842		-		-
	Industrial		48,517,116		44,741,155		3,775,961		-
	Technology		59,592,880		59,592,880		-		-
	Total Common Stocks		268,089,857		263,567,543		4,522,314		-
	Short-Term Investment		14,067,400		-		14,067,400		-
	Total		$282,157,257		$263,567,543		$18,589,714		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

126

PACIFIC SELECT FUND

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Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
RIGHTS - 0.0%
Basic Materials - 0.0%
PolyMet Mining Corp. Exp 04/10/23 *		8,226		$22
Consumer, Non-Cyclical - 0.0%
Contra Aduro Biotechnologies, Inc. - Contingent Value Rights * W ±		3,861		9,803
Gtx, Inc. - Contingent Value Rights * W ±		216		222
OmniAb, Inc. $12.50 - Earn Out Shares * W ±		1,693		-
OmniAb, Inc. $15.00 - Earn Out Shares * W ±		1,693		-
				10,025
Total Rights (Cost $443)				10,047
COMMON STOCKS - 98.9%
Basic Materials - 3.7%
5E Advanced Materials, Inc. *		11,337		61,447
AdvanSix, Inc.		7,074		270,722
American Vanguard Corp.		7,396		161,824
Amyris, Inc. *		54,589		74,241
Arconic Corp. *		27,424		719,331
ATI, Inc. *		33,873		1,336,629
Avient Corp.		24,735		1,018,093
AZZ, Inc.		6,648		274,163
Balchem Corp.		8,719		1,102,779
Cabot Corp.		15,209		1,165,618
Carpenter Technology Corp.		12,919		578,254
Century Aluminum Co. *		14,853		148,530
Codexis, Inc. *		17,304		71,639
Coeur Mining, Inc. *		75,756		302,266
Commercial Metals Co.		31,893		1,559,568
Compass Minerals International, Inc.		9,080		311,353
Constellium SE *		33,968		519,031
Dakota Gold Corp. *		12,680		45,902
Danimer Scientific, Inc. *		25,743		88,813
Diversey Holdings Ltd. *		21,973		177,762
Ecovyst, Inc. *		22,149		244,746
Energy Fuels, Inc. *		44,174		246,491
Glatfelter Corp.		12,856		41,011
Hawkins, Inc.		5,475		239,695
Haynes International, Inc.		3,199		160,238
HB Fuller Co.		14,551		996,016
Hecla Mining Co.		149,959		949,240
Hycroft Mining Holding Corp. *		39,779		17,200
Ingevity Corp. *		10,140		725,213
Innospec, Inc.		6,774		695,487
Intrepid Potash, Inc. *		3,035		83,766
Ivanhoe Electric, Inc. *		12,224		148,522
Kaiser Aluminum Corp.		4,444		331,656
Koppers Holdings, Inc.		5,257		183,837
Kronos Worldwide, Inc.		6,400		58,944
Lightwave Logic, Inc. *		31,166		162,998
Livent Corp. *		44,118		958,243
Mativ Holdings, Inc.		15,234		327,074
Minerals Technologies, Inc.		8,683		524,627
Novagold Resources, Inc. * (Canada)		63,984		397,980
Origin Materials, Inc. *		29,507		125,995
Orion Engineered Carbons SA (Germany)		16,097		419,971
Perimeter Solutions SA *		31,411		253,801
Piedmont Lithium, Inc. *		4,870		292,443
PolyMet Mining Corp. * (Canada)		8,226		17,686

	Shares		Value
Quaker Chemical Corp.		3,673		$ 727,070
Rayonier Advanced Materials, Inc. *		17,403		109,117
Rogers Corp. *		5,105		834,310
Schnitzer Steel Industries, Inc. Class A		6,696		208,246
Sensient Technologies Corp.		11,411		873,626
Stepan Co.		5,722		589,538
Sylvamo Corp.		9,314		430,866
Terawulf, Inc. *		5,805		5,444
Trinseo PLC		9,800		204,330
Tronox Holdings PLC		31,498		452,941
Unifi, Inc. *		4,126		33,709
Ur-Energy, Inc. *		56,830		60,240
Uranium Energy Corp. *		99,024		285,189
US Lime & Minerals, Inc.		588		89,782
Valhi, Inc.		693		12,065
				23,507,318
Communications - 4.0%
1-800-Flowers.com, Inc. Class A *		7,662		88,113
1stdibs.com, Inc. *		7,333		29,112
A10 Networks, Inc.		17,707		274,281
AdTheorent Holding Co., Inc. *		7,672		12,966
ADTRAN Holdings, Inc.		21,613		342,782
Advantage Solutions, Inc. *		21,768		34,393
aka Brands Holding Corp. *		4,330		2,359
Allbirds, Inc. Class A *		26,001		31,201
AMC Networks, Inc. Class A *		8,364		147,039
Anterix, Inc. *		4,929		162,854
Arena Group Holdings, Inc. *		2,835		12,049
ATN International, Inc.		3,134		128,243
Audacy, Inc. *		35,074		4,724
Aviat Networks, Inc. *		1,902		65,543
BARK, Inc. *		31,852		46,185
Blade Air Mobility, Inc. *		15,595		52,711
Boston Omaha Corp. Class A *		6,130		145,097
Bumble, Inc. Class A *		27,153		530,841
Calix, Inc. *		15,659		839,166
Cambium Networks Corp. *		3,080		54,578
Cargurus, Inc. *		27,513		513,943
CarParts.com, Inc. *		13,897		74,210
Cars.com, Inc. *		17,745		342,479
Casa Systems, Inc. *		9,884		12,553
Clear Channel Outdoor Holdings, Inc. *		103,484		124,181
Clearfield, Inc. *		3,285		153,015
Cogent Communications Holdings, Inc.		11,546		735,711
CommScope Holding Co., Inc. *		57,266		364,784
Consolidated Communications Holdings, Inc. *		20,547		53,011
ContextLogic, Inc. Class A *		159,275		71,005
Couchbase, Inc. *		7,320		102,919
Credo Technology Group Holding Ltd. *		26,620		250,760
Cumulus Media, Inc. Class A *		4,944		18,243
Cyxtera Technologies, Inc. *		10,853		3,315
DHI Group, Inc. *		10,800		41,904
DigitalBridge Group, Inc.		42,346		507,729
DZS, Inc. *		4,476		35,316
EchoStar Corp. Class A *		9,658		176,645
Edgio, Inc. *		37,379		29,571
Entravision Communications Corp. Class A		16,640		100,672
ePlus, Inc. *		7,206		353,382
Eventbrite, Inc. Class A *		21,386		183,492
EverQuote, Inc. Class A *		5,385		74,852
EW Scripps Co. Class A *		16,290		153,289
Extreme Networks, Inc. *		34,451		658,703
Figs, Inc. Class A *		35,864		221,998
Focus Universal, Inc. *		7,047		17,618
fuboTV, Inc. *		50,486		61,088
Gambling.com Group Ltd. * (Malta)		2,447		24,250
Gannett Co., Inc. *		39,559		73,975
Globalstar, Inc. *		193,182		224,091
Gogo, Inc. *		14,075		204,088
Gray Television, Inc.		21,108		184,062

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

127

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Groupon, Inc. *		6,292		$26,489
Harmonic, Inc. *		25,672		374,554
HealthStream, Inc. *		6,408		173,657
Hims & Hers Health, Inc. *		33,818		335,475
IDT Corp. Class B *		4,166		141,977
iHeartMedia, Inc. Class A *		33,172		129,371
Infinera Corp. *		53,103		412,079
Innovid Corp. * (Israel)		19,669		27,733
Inseego Corp. *		25,524		14,865
Inspirato, Inc. *		4,144		3,974
InterDigital, Inc.		8,068		588,157
Iridium Communications, Inc.		33,981		2,104,443
KORE Group Holdings, Inc. *		8,836		10,780
Lands’ End, Inc. *		4,088		39,735
Liberty Latin America Ltd. Class A *		11,686		97,111
Liberty Latin America Ltd. Class C *		39,329		324,858
Liquidity Services, Inc. *		6,539		86,119
Lulu’s Fashion Lounge Holdings, Inc. *		3,942		9,382
Magnite, Inc. *		36,913		341,814
Marqeta, Inc. Class A *		116,715		533,388
Maxar Technologies, Inc.		20,018		1,022,119
MediaAlpha, Inc. Class A *		6,134		91,887
Nerdy, Inc. *		14,499		60,606
NETGEAR, Inc. *		8,143		150,727
Ondas Holdings, Inc. *		9,265		10,006
Ooma, Inc. *		5,971		74,697
Open Lending Corp. Class A *		29,640		208,666
OptimizeRx Corp. *		5,051		73,896
Overstock.com, Inc. *		11,975		242,733
Perficient, Inc. *		9,464		683,206
Planet Labs PBC *		51,866		203,833
Preformed Line Products Co.		730		93,469
Q2 Holdings, Inc. *		15,543		382,669
QuinStreet, Inc. *		13,401		212,674
Quotient Technology, Inc. *		24,701		81,019
RealReal, Inc. *		22,405		28,230
Revolve Group, Inc. *		11,485		302,056
Ribbon Communications, Inc. *		19,880		67,990
Rover Group, Inc. *		25,790		116,829
RumbleON, Inc. Class B *		2,841		17,216
Scholastic Corp.		8,091		276,874
Shenandoah Telecommunications Co.		12,773		242,942
Shutterstock, Inc.		6,464		469,286
Sinclair Broadcast Group, Inc. Class A		11,424		196,036
Solo Brands, Inc. Class A *		5,125		36,798
Squarespace, Inc. Class A *		8,193		260,292
Stagwell, Inc. *		19,853		147,309
Stitch Fix, Inc. Class A *		23,149		118,291
TechTarget, Inc. *		7,641		275,993
TEGNA, Inc.		60,062		1,015,648
Telephone & Data Systems, Inc.		26,743		281,069
Terran Orbital Corp. *		6,280		11,555
Thryv Holdings, Inc. *		6,865		158,307
TrueCar, Inc. *		21,676		49,855
Tucows, Inc. Class A *		2,783		54,129
Upwork, Inc. *		33,741		381,948
Urban One, Inc. *		5,120		38,656
US Cellular Corp. *		4,356		90,300
Vacasa, Inc. Class A *		30,329		29,183
Value Line, Inc.		334		16,142
Viavi Solutions, Inc. *		60,790		658,356
Vivid Seats, Inc. Class A *		6,633		50,610
WideOpenWest, Inc. *		15,069		160,183
Yelp, Inc. *		18,257		560,490
Ziff Davis, Inc. *		12,400		967,820
				25,599,652
Consumer, Cyclical - 12.2%
A-Mark Precious Metals, Inc.		4,974		172,349
Abercrombie & Fitch Co. Class A *		13,117		363,997
Academy Sports & Outdoors, Inc.		20,717		1,351,784

	Shares		Value
Accel Entertainment, Inc. *		16,191		$147,500
Acushnet Holdings Corp.		9,067		461,873
Adient PLC *		25,850		1,058,816
Aeva Technologies, Inc. *		30,039		35,746
Allegiant Travel Co. *		4,301		395,606
America’s Car-Mart, Inc. *		1,705		135,053
American Axle & Manufacturing Holdings, Inc. *		31,386		245,125
American Eagle Outfitters, Inc.		41,456		557,169
Arko Corp.		23,938		203,234
Asbury Automotive Group, Inc. *		6,020		1,264,200
Aspen Aerogels, Inc. *		13,003		96,872
Aterian, Inc. *		20,441		17,581
Bally’s Corp. *		9,143		178,471
Beacon Roofing Supply, Inc. *		13,937		820,192
Beazer Homes USA, Inc. *		8,418		133,678
Bed Bath & Beyond, Inc. *		22,187		9,483
Big 5 Sporting Goods Corp.		5,932		45,617
Big Lots, Inc.		7,651		83,855
Biglari Holdings, Inc. Class B *		230		38,916
BJ’s Restaurants, Inc. *		6,392		186,263
Bloomin’ Brands, Inc.		23,639		606,340
Blue Bird Corp. *		5,026		102,681
Bluegreen Vacations Holding Corp.		2,658		72,776
BlueLinx Holdings, Inc. *		2,289		155,560
Boot Barn Holdings, Inc. *		7,996		612,813
Bowlero Corp. *		8,239		139,651
Brinker International, Inc. *		11,930		453,340
Buckle, Inc.		7,959		284,057
Build-A-Bear Workshop, Inc.		3,742		86,964
Caleres, Inc.		9,093		196,682
Camping World Holdings, Inc. Class A		10,500		219,135
Canoo, Inc. *		70,824		46,220
Cato Corp. Class A		5,395		47,692
Cavco Industries, Inc. *		2,375		754,632
Cenntro Electric Group Ltd. * (Australia)		50,498		23,320
Century Casinos, Inc. *		7,401		54,249
Century Communities, Inc.		7,755		495,700
Cepton, Inc. *		9,852		4,575
Cheesecake Factory, Inc.		12,932		453,267
Chico’s FAS, Inc. *		34,362		188,991
Children’s Place, Inc. *		3,065		123,366
Chuy’s Holdings, Inc. *		4,772		171,076
Cinemark Holdings, Inc. *		29,278		433,022
Citi Trends, Inc. *		2,540		48,311
Clarus Corp.		6,816		64,411
Clean Energy Fuels Corp. *		47,494		207,074
CompX International, Inc.		719		13,000
Conn’s, Inc. *		3,860		23,392
Container Store Group, Inc. *		9,489		32,547
Cracker Barrel Old Country Store, Inc.		5,996		681,146
Crocs, Inc. *		16,527		2,089,674
Dana, Inc.		34,666		521,723
Dave & Buster’s Entertainment, Inc. *		11,540		424,557
Denny’s Corp. *		14,657		163,572
Designer Brands, Inc. Class A		12,684		110,858
Destination XL Group, Inc. *		15,629		86,116
Dillard’s, Inc. Class A		1,085		333,833
Dine Brands Global, Inc.		3,904		264,067
Dorman Products, Inc. *		7,162		617,794
Douglas Dynamics, Inc.		5,789		184,611
Dream Finders Homes, Inc. Class A *		5,778		76,558
Duluth Holdings, Inc. Class B *		3,374		21,526
El Pollo Loco Holdings, Inc.		5,169		49,571
Ermenegildo Zegna NV (Italy)		16,402		223,723
Ethan Allen Interiors, Inc.		6,270		172,174
Everi Holdings, Inc. *		23,005		394,536
EVgo, Inc. *		19,124		148,976
Express, Inc. *		17,437		13,746
F45 Training Holdings, Inc. *		9,115		10,573
First Watch Restaurant Group, Inc. *		4,458		71,595
FirstCash, Inc.		10,283		980,690
Fisker, Inc. *		46,993		288,537

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

128

PACIFIC SELECT FUND

SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Foot Locker, Inc.		21,834		$866,591
Forestar Group, Inc. *		4,745		73,832
Fossil Group, Inc. *		14,174		45,357
Fox Factory Holding Corp. *		11,567		1,403,887
Franchise Group, Inc.		7,091		193,230
Frontier Group Holdings, Inc. *		9,921		97,623
Full House Resorts, Inc. *		9,322		67,398
Funko, Inc. Class A *		9,070		85,530
G-III Apparel Group Ltd. *		12,267		190,752
Genesco, Inc. *		3,464		127,752
Gentherm, Inc. *		9,006		544,143
Global Industrial Co.		3,607		96,812
GMS, Inc. *		11,290		653,578
Golden Entertainment, Inc. *		5,662		246,354
Goodyear Tire & Rubber Co. *		76,126		838,909
Green Brick Partners, Inc. *		7,518		263,581
Group 1 Automotive, Inc.		3,823		865,604
GrowGeneration Corp. *		17,333		59,279
Guess?, Inc.		8,388		163,230
H&E Equipment Services, Inc.		8,812		389,755
Haverty Furniture Cos., Inc.		4,206		134,213
Hawaiian Holdings, Inc. *		14,373		131,657
Hibbett, Inc.		3,533		208,376
Hilton Grand Vacations, Inc. *		23,357		1,037,752
HNI Corp.		11,569		322,081
Holley, Inc. *		13,491		36,965
Hovnanian Enterprises, Inc. Class A *		1,458		98,911
Hudson Technologies, Inc. *		11,587		101,155
Hyliion Holdings Corp. *		35,612		70,512
Hyzon Motors, Inc. *		24,594		20,047
IMAX Corp. *		12,581		241,304
indie Semiconductor, Inc. Class A * (China)		28,191		297,415
Installed Building Products, Inc.		6,476		738,458
Interface, Inc.		16,564		134,500
International Game Technology PLC		26,623		713,496
iRobot Corp. *		7,514		327,911
Jack in the Box, Inc.		5,609		491,292
JOANN, Inc.		3,306		5,257
Johnson Outdoors, Inc. Class A		1,483		93,444
KAR Auction Services, Inc. *		30,134		412,233
KB Home		20,384		819,029
Kimball International, Inc. Class B		9,443		117,093
Kontoor Brands, Inc.		15,124		731,850
Kura Sushi USA, Inc. Class A *		1,269		83,551
La-Z-Boy, Inc.		11,979		348,349
Landsea Homes Corp. *		3,087		18,707
LCI Industries		6,732		739,645
LGI Homes, Inc. *		5,501		627,279
Liberty Media Corp. - Liberty Braves Class A *		2,808		97,101
Liberty Media Corp. - Liberty Braves Class C *		10,412		350,780
Life Time Group Holdings, Inc. *		11,059		176,502
Lifetime Brands, Inc.		4,323		25,419
Light & Wonder, Inc. *		25,699		1,543,225
Lightning eMotors, Inc. *		10,854		3,110
Lindblad Expeditions Holdings, Inc. *		9,393		89,797
Lions Gate Entertainment Corp. Class A *		15,888		175,880
Lions Gate Entertainment Corp. Class B *		32,936		341,876
LL Flooring Holdings, Inc. *		8,145		30,951
Lordstown Motors Corp. Class A *		44,120		29,256
Lovesac Co. *		3,639		105,167
Luminar Technologies, Inc. *		68,175		442,456
M/I Homes, Inc. *		6,933		437,403
Madison Square Garden Entertainment Corp. *		7,019		414,612
Malibu Boats, Inc. Class A *		5,379		303,645
Marcus Corp.		6,988		111,808
Marine Products Corp.		2,063		27,211
MarineMax, Inc. *		5,854		168,302
MasterCraft Boat Holdings, Inc. *		4,460		135,718
MDC Holdings, Inc.		15,938		619,510
Meritage Homes Corp.		9,922		1,158,493
Methode Electronics, Inc.		9,523		417,869
Microvast Holdings, Inc. *		47,733		59,189

	Shares		Value
Miller Industries, Inc.		3,086		$109,090
MillerKnoll, Inc.		20,364		416,444
Monarch Casino & Resort, Inc.		3,702		274,503
Motorcar Parts of America, Inc. *		5,348		39,789
Movado Group, Inc.		3,883		111,714
MRC Global, Inc. *		23,331		226,777
Mullen Automotive, Inc. *		250,732		32,921
Murphy USA, Inc.		5,483		1,414,888
National Vision Holdings, Inc. *		20,998		395,602
NEOGAMES SA * (Israel)		3,469		52,729
Nikola Corp. *		94,040		113,788
Noodles & Co. *		11,028		53,486
Nu Skin Enterprises, Inc. Class A		13,162		517,398
ODP Corp. *		11,100		499,278
ONE Group Hospitality, Inc. *		5,568		45,101
OneSpaWorld Holdings Ltd. * (Bahamas)		17,677		211,947
OneWater Marine, Inc. Class A *		3,002		83,966
Oxford Industries, Inc.		4,055		428,167
Papa John’s International, Inc.		8,882		665,528
Patrick Industries, Inc.		5,943		408,938
PC Connection, Inc.		3,267		146,884
PetMed Express, Inc.		5,625		91,350
PLBY Group, Inc. *		13,213		26,162
Portillo’s, Inc. Class A *		8,808		188,227
PriceSmart, Inc.		6,894		492,783
Proterra, Inc. *		61,591		93,618
Purple Innovation, Inc. *		16,412		43,328
Qurate Retail, Inc. *		97,221		96,035
RCI Hospitality Holdings, Inc.		2,406		188,077
Red Rock Resorts, Inc. Class A		13,712		611,144
Reservoir Media, Inc. *		5,058		32,978
Resideo Technologies, Inc. *		39,132		715,333
REV Group, Inc.		9,824		117,790
Rite Aid Corp. *		15,300		34,272
Rocky Brands, Inc.		1,966		45,356
Rush Enterprises, Inc. Class A		11,240		613,704
Rush Enterprises, Inc. Class B		1,946		116,546
Rush Street Interactive, Inc. *		15,494		48,186
Ruth’s Hospitality Group, Inc.		8,175		134,233
Sally Beauty Holdings, Inc. *		28,605		445,666
ScanSource, Inc. *		7,177		218,468
SeaWorld Entertainment, Inc. *		10,827		663,803
Shake Shack, Inc. Class A *		10,146		563,002
Shoe Carnival, Inc.		5,032		129,071
Shyft Group, Inc.		9,179		208,822
Signet Jewelers Ltd. (NYSE)		12,106		941,605
Skyline Champion Corp. *		14,537		1,093,618
SkyWest, Inc. *		13,945		309,161
Sleep Number Corp. *		6,003		182,551
Snap One Holdings Corp. *		4,391		41,056
Solid Power, Inc. *		35,749		107,604
Sonder Holdings, Inc. *		50,599		38,308
Sonic Automotive, Inc. Class A		5,018		272,678
Sonos, Inc. *		34,594		678,734
Sovos Brands, Inc. *		10,066		167,901
Spirit Airlines, Inc.		29,354		504,008
Sportsman’s Warehouse Holdings, Inc. *		10,339		87,675
Standard Motor Products, Inc.		5,668		209,206
Steelcase, Inc. Class A		22,684		190,999
Steven Madden Ltd.		20,726		746,136
Sun Country Airlines Holdings, Inc. *		9,156		187,698
Superior Group of Cos., Inc.		3,312		26,065
Sweetgreen, Inc. Class A *		24,234		189,995
Taylor Morrison Home Corp. *		28,712		1,098,521
Texas Roadhouse, Inc.		18,439		1,992,518
ThredUp, Inc. Class A *		16,754		42,388
Tile Shop Holdings, Inc. *		8,920		41,835
Tilly’s, Inc. Class A *		6,305		48,612
Titan International, Inc. *		14,386		150,765
Titan Machinery, Inc. *		5,393		164,217
Topgolf Callaway Brands Corp. *		37,834		817,971
Torrid Holdings, Inc. *		3,599		15,692

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

129

PACIFIC SELECT FUND

SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Traeger, Inc. *		8,369		$34,397
TravelCenters of America, Inc. *		3,340		288,910
Tri Pointe Homes, Inc. *		27,141		687,210
Tupperware Brands Corp. *		12,501		31,252
TuSimple Holdings, Inc. Class A *		39,510		58,080
UniFirst Corp.		4,072		717,609
Universal Electronics, Inc. *		3,466		35,145
Urban Outfitters, Inc. *		17,046		472,515
Veritiv Corp.		3,636		491,369
Vinco Ventures, Inc. *		61,050		19,615
Virgin Galactic Holdings, Inc. *		64,893		262,817
Vista Outdoor, Inc. *		15,438		427,787
Visteon Corp. *		7,614		1,194,104
Vizio Holding Corp. Class A *		18,753		172,153
VSE Corp.		3,009		135,104
Wabash National Corp.		12,847		315,908
Warby Parker, Inc. Class A *		23,590		249,818
Weyco Group, Inc.		1,051		26,590
Wheels Up Experience, Inc. *		43,696		27,651
Wingstop, Inc.		8,168		1,499,481
Winmark Corp.		737		236,157
Winnebago Industries, Inc.		7,966		459,638
Wolverine World Wide, Inc.		20,648		352,048
Workhorse Group, Inc. *		43,667		58,077
World Fuel Services Corp.		16,885		431,412
Xos, Inc. *		14,811		7,776
XPEL, Inc. *		5,966		405,390
Xperi, Inc. *		11,152		121,891
Xponential Fitness, Inc. Class A *		5,719		173,800
Zumiez, Inc. *		4,234		78,075
				77,675,527
Consumer, Non-Cyclical - 23.3%
22nd Century Group, Inc. *		45,815		35,232
23andMe Holding Co. Class A *		71,199		162,334
2seventy bio, Inc. *		10,518		107,284
2U, Inc. *		20,622		141,261
4D Molecular Therapeutics, Inc. *		7,686		132,122
Aadi Bioscience, Inc. *		4,054		29,351
Aaron’s Co., Inc.		8,577		82,854
AbCellera Biologics, Inc. * (Canada)		55,760		420,430
ABM Industries, Inc.		17,969		807,527
Absci Corp. *		15,969		27,946
ACADIA Pharmaceuticals, Inc. *		32,550		612,591
ACCO Brands Corp.		26,556		141,278
Accolade, Inc. *		17,948		258,092
Aclaris Therapeutics, Inc. *		17,799		143,994
Acrivon Therapeutics, Inc. *		2,037		25,850
AdaptHealth Corp. *		20,246		251,658
Adaptive Biotechnologies Corp. *		31,382		277,103
Addus HomeCare Corp. *		4,101		437,823
Adicet Bio, Inc. *		8,114		46,737
ADMA Biologics, Inc. *		57,137		189,123
Adtalem Global Education, Inc. *		12,073		466,259
Aerovate Therapeutics, Inc. *		2,841		57,303
Affimed NV * (Germany)		42,961		32,032
Agenus, Inc. *		85,439		129,867
Agiliti, Inc. *		8,056		128,735
Agios Pharmaceuticals, Inc. *		15,244		350,155
AirSculpt Technologies, Inc.		2,943		14,833
Akero Therapeutics, Inc. *		9,312		356,277
Akoya Biosciences, Inc. *		4,926		40,295
Alarm.com Holdings, Inc. *		12,995		653,389
Alector, Inc. *		16,790		103,930
Alico, Inc.		1,937		46,875
Alight, Inc. Class A *		105,103		967,999
Alkermes PLC *		44,239		1,247,097
Allogene Therapeutics, Inc. *		22,463		110,967
Allovir, Inc. *		8,823		34,763
Alpha Teknova, Inc. *		1,963		5,810
Alphatec Holdings, Inc. *		20,325		317,070

	Shares		Value
Alpine Immune Sciences, Inc. *		6,438		$49,701
Alta Equipment Group, Inc.		6,047		95,845
ALX Oncology Holdings, Inc. *		5,781		26,130
American Public Education, Inc. *		5,787		31,366
American Well Corp. Class A *		64,449		152,100
Amicus Therapeutics, Inc. *		74,909		830,741
AMN Healthcare Services, Inc. *		11,731		973,204
Amneal Pharmaceuticals, Inc. *		26,987		37,512
Amphastar Pharmaceuticals, Inc. *		10,639		398,963
Amylyx Pharmaceuticals, Inc. *		13,509		396,354
AN2 Therapeutics, Inc. *		3,055		30,153
AnaptysBio, Inc. *		5,435		118,266
Anavex Life Sciences Corp. *		19,000		162,830
Andersons, Inc.		8,942		369,483
AngioDynamics, Inc. *		10,544		109,025
ANI Pharmaceuticals, Inc. *		3,417		135,723
Anika Therapeutics, Inc. *		4,185		120,193
Apellis Pharmaceuticals, Inc. *		25,516		1,683,035
API Group Corp. *		56,452		1,269,041
AppHarvest, Inc. *		19,667		12,042
Arbutus Biopharma Corp. *		30,997		93,921
Arcellx, Inc. *		8,109		249,838
Arcturus Therapeutics Holdings, Inc. *		6,511		156,069
Arcus Biosciences, Inc. *		14,448		263,532
Arcutis Biotherapeutics, Inc. *		11,295		124,245
Arlo Technologies, Inc. *		23,889		144,767
Arrowhead Pharmaceuticals, Inc. *		27,834		706,984
Artivion, Inc. *		10,719		140,419
Arvinas, Inc. *		12,948		353,739
ASGN, Inc. *		13,400		1,107,778
Atara Biotherapeutics, Inc. *		25,754		74,687
Atea Pharmaceuticals, Inc. *		21,675		72,611
Athira Pharma, Inc. *		9,189		22,973
ATI Physical Therapy, Inc. *		20,309		5,163
AtriCure, Inc. *		12,155		503,825
Atrion Corp.		361		226,676
Aura Biosciences, Inc. *		5,132		47,625
Aurinia Pharmaceuticals, Inc. * (Canada)		35,782		392,171
Avanos Medical, Inc. *		12,690		377,401
Aveanna Healthcare Holdings, Inc. *		10,995		11,435
Avid Bioservices, Inc. *		16,291		305,619
Avidity Biosciences, Inc. *		17,593		270,053
Axogen, Inc. *		11,451		108,212
Axonics, Inc. *		13,269		723,957
Axsome Therapeutics, Inc. *		8,658		534,025
B&G Foods, Inc.		19,827		307,913
Babylon Holdings Ltd. Class A * (United Kingdom)		1,198		6,098
Bakkt Holdings, Inc. *		18,181		31,271
Barrett Business Services, Inc.		1,784		158,134
Beachbody Co., Inc. *		28,413		13,701
Beam Therapeutics, Inc. *		17,129		524,490
Beauty Health Co. *		23,615		298,257
BellRing Brands, Inc. *		36,221		1,231,514
Benson Hill, Inc. *		48,043		55,249
Beyond Meat, Inc. *		16,288		264,354
BioCryst Pharmaceuticals, Inc. *		49,915		416,291
Biohaven Ltd. *		17,620		240,689
BioLife Solutions, Inc. *		9,481		206,212
Bionano Genomics, Inc. *		80,145		88,961
Bioventus, Inc. Class A *		8,317		8,899
Bioxcel Therapeutics, Inc. *		5,161		96,304
Bird Global, Inc. Class A *		60,073		16,814
Bluebird Bio, Inc. *		27,489		87,415
Blueprint Medicines Corp. *		16,176		727,758
Boxed, Inc. *		13,108		2,488
BRC, Inc. Class A *		7,203		37,023
Bridgebio Pharma, Inc. *		28,273		468,766
Bright Health Group, Inc. *		55,031		12,123
BrightView Holdings, Inc. *		11,545		64,883
Brink’s Co.		12,291		821,039
Brookdale Senior Living, Inc. *		52,734		155,565
Butterfly Network, Inc. *		36,805		69,193

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

130

PACIFIC SELECT FUND

SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
C4 Therapeutics, Inc. *		11,659		$36,609
Cal-Maine Foods, Inc.		10,220		622,296
Calavo Growers, Inc.		4,921		141,577
Cano Health, Inc. *		45,716		41,602
Cara Therapeutics, Inc. *		12,408		60,923
Cardiovascular Systems, Inc. *		11,196		222,353
CareDx, Inc. *		14,543		132,923
CareMax, Inc. *		16,387		43,753
Caribou Biosciences, Inc. *		15,527		82,448
Carriage Services, Inc.		3,507		107,034
Cass Information Systems, Inc.		3,612		156,436
Cassava Sciences, Inc. *		10,696		257,988
Castle Biosciences, Inc. *		6,778		153,996
Catalyst Pharmaceuticals, Inc. *		26,621		441,376
CBIZ, Inc. *		12,645		625,801
Celldex Therapeutics, Inc. *		12,414		446,656
Celsius Holdings, Inc. *		15,138		1,406,926
Celularity, Inc. *		17,012		10,542
Central Garden & Pet Co. *		2,832		116,282
Central Garden & Pet Co. Class A *		10,573		413,087
Century Therapeutics, Inc. *		6,092		21,139
Cerevel Therapeutics Holdings, Inc. *		15,380		375,118
Cerus Corp. *		48,351		143,602
Chefs’ Warehouse, Inc. *		9,399		320,036
Chegg, Inc. *		33,630		548,169
Chimerix, Inc. *		20,798		26,205
Chinook Therapeutics, Inc. *		13,721		317,641
Cimpress PLC * (Ireland)		5,011		219,582
Cipher Mining, Inc. *		9,514		22,168
Clover Health Investments Corp. *		108,000		91,271
Coca-Cola Consolidated, Inc.		1,279		684,367
Cogent Biosciences, Inc. *		17,731		191,317
Coherus Biosciences, Inc. *		20,406		139,577
Collegium Pharmaceutical, Inc. *		8,932		214,279
Community Health Systems, Inc. *		35,405		173,485
CompoSecure, Inc. *		2,192		16,133
CONMED Corp.		7,804		810,523
Corcept Therapeutics, Inc. *		23,807		515,660
CoreCivic, Inc. *		30,586		281,391
CorVel Corp. *		2,363		449,632
Coursera, Inc. *		30,398		350,185
CRA International, Inc.		1,840		198,389
Crinetics Pharmaceuticals, Inc. *		14,790		237,527
Cross Country Healthcare, Inc. *		9,393		209,652
CTI BioPharma Corp. *		27,760		116,592
Cue Health, Inc. *		30,023		54,642
Cullinan Oncology, Inc. *		6,382		65,288
Custom Truck One Source, Inc. *		15,744		106,902
Cutera, Inc. *		4,734		111,817
Cytek Biosciences, Inc. *		32,059		294,622
Cytokinetics, Inc. *		22,308		785,019
Day One Biopharmaceuticals, Inc. *		7,650		102,281
Deciphera Pharmaceuticals, Inc. *		13,903		214,801
Deluxe Corp.		12,001		192,016
Denali Therapeutics, Inc. *		29,391		677,169
Design Therapeutics, Inc. *		9,609		55,444
DICE Therapeutics, Inc. *		9,889		283,320
Distribution Solutions Group, Inc. *		1,438		65,371
DocGo, Inc. *		22,021		190,482
Duckhorn Portfolio, Inc. *		11,347		180,417
Dynavax Technologies Corp. *		33,229		325,976
Dyne Therapeutics, Inc. *		8,556		98,565
Eagle Pharmaceuticals, Inc. *		2,602		73,819
Edgewell Personal Care Co.		13,942		591,420
Edgewise Therapeutics, Inc. *		10,824		72,196
Editas Medicine, Inc. *		19,439		140,933
Eiger BioPharmaceuticals, Inc. *		11,283		10,120
elf Beauty, Inc. *		13,403		1,103,737
Embecta Corp.		15,577		438,025
Emergent BioSolutions, Inc. *		14,083		145,900
Enanta Pharmaceuticals, Inc. *		5,538		223,957
Ennis, Inc.		7,255		153,008

	Shares		Value
Enochian Biosciences, Inc. *		10,109		$9,251
Ensign Group, Inc.		14,587		1,393,642
EQRx, Inc. *		55,481		107,633
Erasca, Inc. *		18,358		55,258
Esperion Therapeutics, Inc. *		21,875		34,781
European Wax Center, Inc. Class A		6,551		124,469
EVERTEC, Inc.		16,799		566,966
Evolus, Inc. *		9,829		83,153
EyePoint Pharmaceuticals, Inc. *		6,947		20,424
Fate Therapeutics, Inc. *		23,469		133,773
FibroGen, Inc. *		23,700		442,242
First Advantage Corp. *		16,191		226,026
Flywire Corp. *		15,560		456,842
Foghorn Therapeutics, Inc. *		5,573		34,553
Forrester Research, Inc. *		3,244		104,943
Franklin Covey Co. *		3,488		134,183
Fresh Del Monte Produce, Inc.		8,388		252,563
Fresh Market, Inc. * W ±		19,545		-
Fulcrum Therapeutics, Inc. *		12,662		36,087
Fulgent Genetics, Inc. *		5,932		185,197
GeneDx Holdings Corp. *		45,292		16,532
Generation Bio Co. *		13,156		56,571
GEO Group, Inc. *		33,214		262,058
Geron Corp. *		115,270		250,136
Glaukos Corp. *		12,302		616,330
Gossamer Bio, Inc. *		17,807		22,437
Graham Holdings Co. Class B		996		593,457
Green Dot Corp. Class A *		13,260		227,807
Greenidge Generation Holdings, Inc. *		2,593		1,172
GreenLight Biosciences Holdings PBC *		17,504		7,569
Hackett Group, Inc.		5,844		107,997
Haemonetics Corp. *		13,646		1,129,206
Hain Celestial Group, Inc. *		24,981		428,424
Halozyme Therapeutics, Inc. *		36,199		1,382,440
Harmony Biosciences Holdings, Inc. *		6,943		226,689
Healthcare Services Group, Inc.		20,771		288,094
HealthEquity, Inc. *		22,640		1,329,194
Heidrick & Struggles International, Inc.		5,551		168,528
Helen of Troy Ltd. *		6,422		611,182
Herbalife Nutrition Ltd. *		26,401		425,056
Herc Holdings, Inc.		6,818		776,570
Heron Therapeutics, Inc. *		28,366		42,833
Heska Corp. *		2,537		247,662
HF Foods Group, Inc. *		10,129		39,706
HilleVax, Inc. *		4,940		81,658
Honest Co., Inc. *		17,316		31,169
Hostess Brands, Inc. *		36,479		907,598
Humacyte, Inc. *		16,084		49,700
Huron Consulting Group, Inc. *		5,440		437,213
I3 Verticals, Inc. Class A *		6,213		152,405
ICF International, Inc.		4,983		546,635
Icosavax, Inc. *		6,944		40,275
Ideaya Biosciences, Inc. *		12,376		169,922
IGM Biosciences, Inc. *		2,873		39,475
ImmunityBio, Inc. *		22,558		41,056
ImmunoGen, Inc. *		59,569		228,745
Immunovant, Inc. *		11,512		178,551
Inari Medical, Inc. *		13,057		806,139
Information Services Group, Inc.		9,851		50,142
Ingles Markets, Inc. Class A		4,001		354,889
Inhibrx, Inc. *		9,175		173,132
Innovage Holding Corp. *		5,223		41,680
Innoviva, Inc. *		17,672		198,810
Inogen, Inc. *		6,640		82,867
Inotiv, Inc. *		5,533		23,958
Inovio Pharmaceuticals, Inc. *		67,342		55,220
Insmed, Inc. *		36,479		621,967
Insperity, Inc.		9,779		1,188,637
Inspire Medical Systems, Inc. *		7,779		1,820,831
Instil Bio, Inc. *		20,232		13,369
Integer Holdings Corp. *		8,890		688,975
Intellia Therapeutics, Inc. *		22,447		836,600

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

131

PACIFIC SELECT FUND

SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Inter Parfums, Inc.		4,930		$701,243
Intercept Pharmaceuticals, Inc. *		6,993		93,916
Intra-Cellular Therapies, Inc. *		24,877		1,347,090
Invitae Corp. *		65,368		88,247
Invivyd, Inc. *		15,257		18,308
Iovance Biotherapeutics, Inc. *		39,828		243,349
iRadimed Corp.		2,073		81,573
iRhythm Technologies, Inc. *		8,198		1,016,798
Ironwood Pharmaceuticals, Inc. *		36,012		378,846
iTeos Therapeutics, Inc. *		6,653		90,547
IVERIC bio, Inc. *		36,978		899,675
J & J Snack Foods Corp.		4,111		609,332
Janux Therapeutics, Inc. *		4,413		53,397
John B Sanfilippo & Son, Inc.		2,524		244,626
John Wiley & Sons, Inc. Class A		11,318		438,799
Joint Corp. *		3,930		66,142
Jounce Therapeutics, Inc. *		11,490		21,257
KalVista Pharmaceuticals, Inc. *		6,622		52,049
Karuna Therapeutics, Inc. *		8,818		1,601,702
Karyopharm Therapeutics, Inc. *		21,360		83,090
Kelly Services, Inc. Class A		9,458		156,908
Keros Therapeutics, Inc. *		5,386		229,982
Kezar Life Sciences, Inc. *		14,514		45,429
Kforce, Inc.		5,345		338,018
Kiniksa Pharmaceuticals Ltd. Class A *		8,746		94,107
Kinnate Biopharma, Inc. *		7,928		49,550
Kodiak Sciences, Inc. *		9,520		59,024
Korn Ferry		14,141		731,655
Krispy Kreme, Inc.		19,048		296,196
Kronos Bio, Inc. *		11,060		16,148
Krystal Biotech, Inc. *		5,723		458,183
Kura Oncology, Inc. *		17,822		217,963
Kymera Therapeutics, Inc. *		10,398		308,093
Lancaster Colony Corp.		5,305		1,076,278
Lantheus Holdings, Inc. *		18,597		1,535,368
Laureate Education, Inc.		36,110		424,654
Leafly Holdings, Inc. *		5,172		2,068
Legalzoom.com, Inc. *		26,919		252,500
LeMaitre Vascular, Inc.		5,430		279,482
Lexicon Pharmaceuticals, Inc. *		22,083		53,662
Lifecore Biomedical, Inc. *		7,169		27,063
LifeStance Health Group, Inc. *		20,646		153,400
Ligand Pharmaceuticals, Inc. *		4,154		305,568
Liquidia Corp. *		12,971		89,630
LivaNova PLC *		14,322		624,153
LiveRamp Holdings, Inc. *		17,158		376,275
Local Bounti Corp. *		20,935		16,687
Lyell Immunopharma, Inc. *		48,670		114,861
MacroGenics, Inc. *		17,306		124,084
Madrigal Pharmaceuticals, Inc. *		3,465		839,431
MannKind Corp. *		70,182		287,746
Marathon Digital Holdings, Inc. *		30,964		270,006
MarketWise, Inc. *		3,098		5,731
Matthews International Corp. Class A		7,898		284,802
MaxCyte, Inc. *		23,744		117,533
Medifast, Inc.		3,048		315,986
Medpace Holdings, Inc. *		6,902		1,297,921
MeiraGTx Holdings PLC *		8,487		43,878
Merit Medical Systems, Inc. *		15,184		1,122,857
Mersana Therapeutics, Inc. *		25,636		105,364
MGP Ingredients, Inc.		3,783		365,892
MiMedx Group, Inc. *		31,650		107,927
Mineralys Therapeutics, Inc. *		2,973		46,557
Mirum Pharmaceuticals, Inc. *		4,941		118,683
Mission Produce, Inc. *		10,566		117,388
ModivCare, Inc. *		3,350		281,668
MoneyGram International, Inc. *		26,113		272,097
Moneylion, Inc. *		40,753		23,140
Monro, Inc.		8,610		425,592
Monte Rosa Therapeutics, Inc. *		8,298		64,641
Morphic Holding, Inc. *		6,925		260,657
Multiplan Corp. *		106,862		113,274

	Shares		Value
Myriad Genetics, Inc. *		21,349		$495,937
Nano-X Imaging Ltd. * (Israel)		12,598		72,690
NanoString Technologies, Inc. *		12,958		128,284
National Beverage Corp. *		6,592		347,530
National HealthCare Corp.		3,484		202,316
National Research Corp.		3,989		173,561
Natural Grocers by Vitamin Cottage, Inc.		2,889		33,946
Nature’s Sunshine Products, Inc. *		3,409		34,806
Nautilus Biotechnology, Inc. SPAC *		13,513		37,431
Nektar Therapeutics *		50,360		35,398
Neogen Corp. *		58,807		1,089,106
NeoGenomics, Inc. *		34,677		603,727
Nevro Corp. *		9,806		354,487
NGM Biopharmaceuticals, Inc. *		11,285		46,043
Nkarta, Inc. *		9,173		32,564
Nurix Therapeutics, Inc. *		12,900		114,552
Nuvalent, Inc. Class A *		5,661		147,695
NuVasive, Inc. *		14,048		580,323
Nuvation Bio, Inc. *		33,923		56,312
Ocugen, Inc. *		61,494		52,461
Ocular Therapeutix, Inc. *		22,034		116,119
OmniAb, Inc. *		21,888		80,548
Omnicell, Inc. *		11,934		700,168
Oncology Institute, Inc. *		8,717		5,909
OPKO Health, Inc. *		114,128		166,627
Option Care Health, Inc. *		45,432		1,443,375
OraSure Technologies, Inc. *		20,519		124,140
Organogenesis Holdings, Inc. *		19,948		42,489
Orthofix Medical, Inc. *		9,501		159,142
OrthoPediatrics Corp. *		4,138		183,272
Oscar Health, Inc. Class A *		33,375		218,273
Outlook Therapeutics, Inc. *		30,807		33,580
Owens & Minor, Inc. *		20,708		301,301
Owlet, Inc. *		4,459		1,447
P3 Health Partners, Inc. *		7,637		8,095
Pacific Biosciences of California, Inc. *		67,053		776,474
Pacira BioSciences, Inc. *		11,897		485,517
Paragon 28, Inc. *		12,892		220,066
Pardes Biosciences, Inc. *		7,949		10,493
Patterson Cos., Inc.		23,319		624,250
Payoneer Global, Inc. *		61,050		383,394
Paysafe Ltd. *		7,555		130,475
Pediatrix Medical Group, Inc. *		21,527		320,968
Pennant Group, Inc. *		7,562		107,985
PepGen, Inc. *		4,108		50,241
Perdoceo Education Corp. *		18,982		254,928
PetIQ, Inc. *		7,522		86,052
PFSweb, Inc.		4,567		19,364
Phathom Pharmaceuticals, Inc. *		6,496		46,381
PhenomeX, Inc. *		15,555		18,044
Phibro Animal Health Corp. Class A		6,195		94,907
PMV Pharmaceuticals, Inc. *		10,583		50,481
Point Biopharma Global, Inc. SPAC *		24,011		174,560
Praxis Precision Medicines, Inc. *		9,132		7,388
Precigen, Inc. *		27,023		28,644
Prestige Consumer Healthcare, Inc. *		13,334		835,108
Prime Medicine, Inc. *		2,639		32,460
Primo Water Corp.		42,625		654,294
Priority Technology Holdings, Inc. *		6,741		24,200
PROCEPT BioRobotics Corp. *		7,211		204,792
PROG Holdings, Inc. *		13,989		332,798
Progyny, Inc. *		20,397		655,152
Prometheus Biosciences, Inc. *		9,471		1,016,428
Protagonist Therapeutics, Inc. *		12,858		295,734
Prothena Corp. PLC * (Ireland)		10,623		514,897
Provention Bio, Inc. *		17,071		411,411
PTC Therapeutics, Inc. *		19,094		924,913
Pulmonx Corp. *		9,899		110,671
Quad/Graphics, Inc. *		10,046		43,097
Quanex Building Products Corp.		9,382		201,994
Quanterix Corp. *		9,476		106,795
Quantum-Si, Inc. *		25,398		44,700

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

132

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SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
R1 RCM, Inc. *		41,265		$618,975
RadNet, Inc. *		13,742		343,962
Rallybio Corp. *		4,168		23,799
RAPT Therapeutics, Inc. *		8,381		153,791
Reata Pharmaceuticals, Inc. Class A *		7,516		683,355
Recursion Pharmaceuticals, Inc. Class A *		38,141		254,400
REGENXBIO, Inc. *		11,287		213,437
Relay Therapeutics, Inc. *		22,827		375,961
Relmada Therapeutics, Inc. *		7,567		17,101
Remitly Global, Inc. *		27,402		464,464
Rent the Runway, Inc. Class A *		14,271		40,672
Repay Holdings Corp. *		24,901		163,600
Replimune Group, Inc. *		12,470		220,220
Resources Connection, Inc.		9,146		156,031
Revance Therapeutics, Inc. *		21,958		707,267
REVOLUTION Medicines, Inc. *		23,519		509,422
Rigel Pharmaceuticals, Inc. *		46,759		61,722
Riot Platforms, Inc. *		42,731		426,883
Rocket Pharmaceuticals, Inc. *		15,018		257,258
RxSight, Inc. *		5,676		94,676
Sabre Corp. *		87,617		375,877
Sage Therapeutics, Inc. *		14,085		591,007
Sana Biotechnology, Inc. *		24,818		81,155
Sangamo Therapeutics, Inc. *		39,707		69,884
Science 37 Holdings, Inc. *		17,433		4,909
Scilex Holding Co. *		18,410		150,962
Seer, Inc. *		14,879		57,433
Select Medical Holdings Corp.		28,044		724,937
Seneca Foods Corp. Class A *		1,582		82,691
Senseonics Holdings, Inc. *		124,245		88,214
Seres Therapeutics, Inc. *		19,829		112,430
Shockwave Medical, Inc. *		9,686		2,100,215
ShotSpotter, Inc. *		2,409		94,722
SI-BONE, Inc. *		9,359		184,092
SIGA Technologies, Inc.		13,267		76,285
Silk Road Medical, Inc. *		10,019		392,043
Simply Good Foods Co. *		24,193		962,156
Singular Genomics Systems, Inc. *		15,602		18,878
SomaLogic, Inc. *		42,206		107,625
SP Plus Corp. *		5,484		188,046
SpartanNash Co.		9,573		237,410
Spire Global, Inc. *		33,361		22,285
SpringWorks Therapeutics, Inc. *		9,882		254,363
Sprouts Farmers Market, Inc. *		28,781		1,008,198
STAAR Surgical Co. *		13,020		832,629
Sterling Check Corp. *		6,714		74,861
Stoke Therapeutics, Inc. *		6,122		50,996
StoneCo Ltd. Class A * (Brazil)		75,324		718,591
Strategic Education, Inc.		6,158		553,173
Stride, Inc. *		11,368		446,194
SunOpta, Inc. * (Canada)		27,036		208,177
Supernus Pharmaceuticals, Inc. *		13,188		477,801
Surgery Partners, Inc. *		14,162		488,164
Surmodics, Inc. *		3,813		86,860
Sutro Biopharma, Inc. *		16,154		74,631
Syndax Pharmaceuticals, Inc. *		16,052		339,018
Tactile Systems Technology, Inc. *		5,500		90,310
Talaris Therapeutics, Inc. *		6,058		11,389
Tango Therapeutics, Inc. *		13,129		51,860
Target Hospitality Corp. *		8,395		110,310
Tarsus Pharmaceuticals, Inc. *		5,112		64,258
Tattooed Chef, Inc. *		13,324		18,920
Tejon Ranch Co. *		5,981		109,273
Tenaya Therapeutics, Inc. *		8,212		23,404
Textainer Group Holdings Ltd. (China)		11,996		385,192
TG Therapeutics, Inc. *		36,847		554,179
Theravance Biopharma, Inc. *		17,771		192,815
Theseus Pharmaceuticals, Inc. *		4,288		38,077
Third Harmonic Bio, Inc. *		3,427		14,119
Thorne HealthTech, Inc. *		4,618		21,335
Tootsie Roll Industries, Inc.		4,239		190,395
Transcat, Inc. *		2,020		180,568

	Shares		Value
TransMedics Group, Inc. *		8,239		$623,939
Travere Therapeutics, Inc. *		17,103		384,646
Treace Medical Concepts, Inc. *		9,946		250,540
TreeHouse Foods, Inc. *		13,750		693,413
TriNet Group, Inc. *		10,173		820,046
Triton International Ltd. (Bermuda)		15,830		1,000,773
TrueBlue, Inc. *		9,091		161,820
Turning Point Brands, Inc.		4,262		89,502
Twist Bioscience Corp. *		15,898		239,742
Tyra Biosciences, Inc. *		3,456		55,538
Udemy, Inc. *		20,272		179,002
UFP Technologies, Inc. *		1,837		238,516
United Natural Foods, Inc. *		16,345		430,691
Universal Corp.		6,744		356,690
Universal Technical Institute, Inc. *		8,476		62,553
Upbound Group, Inc.		13,967		342,331
US Physical Therapy, Inc.		3,446		337,398
USANA Health Sciences, Inc. *		2,971		186,876
Utah Medical Products, Inc.		985		93,348
Utz Brands, Inc.		18,038		297,086
V2X, Inc. *		3,277		130,162
Vanda Pharmaceuticals, Inc. *		16,014		108,735
Varex Imaging Corp. *		9,770		177,716
Vaxart, Inc. *		34,034		25,754
Vaxcyte, Inc. *		19,489		730,448
VBI Vaccines, Inc. *		53,523		16,217
Vector Group Ltd.		38,892		467,093
Ventyx Biosciences, Inc. *		7,024		235,304
Vera Therapeutics, Inc. *		6,426		49,866
Veracyte, Inc. *		19,793		441,384
Vericel Corp. *		12,677		371,690
Veru, Inc. *		18,025		20,909
Verve Therapeutics, Inc. *		12,657		182,514
Viad Corp. *		5,741		119,642
Vicarious Surgical, Inc. *		15,098		34,272
ViewRay, Inc. *		39,648		137,182
Village Super Market, Inc. Class A		2,310		52,853
Vintage Wine Estates, Inc. *		8,349		8,933
Vir Biotechnology, Inc. *		19,572		455,440
Viridian Therapeutics, Inc. *		10,485		266,738
VistaGen Therapeutics, Inc. *		54,507		6,797
Vita Coco Co., Inc. *		7,497		147,091
Vital Farms, Inc. *		8,027		122,813
WD-40 Co.		3,696		658,073
Weis Markets, Inc.		4,410		373,395
Wejo Group Ltd. * (Bermuda)		6,235		3,074
Whole Earth Brands, Inc. *		10,648		27,259
Willdan Group, Inc. *		3,203		50,031
WW International, Inc. *		15,006		61,825
Xencor, Inc. *		15,446		430,789
Xeris Biopharma Holdings, Inc. *		37,515		61,149
Y-mAbs Therapeutics, Inc. *		9,957		49,885
Zentalis Pharmaceuticals, Inc. *		13,028		224,082
Zimvie, Inc. *		5,789		41,854
ZipRecruiter, Inc. Class A *		19,363		308,646
Zynex, Inc. *		6,493		77,916
				147,999,580
Energy - 6.4%
Aemetis, Inc. *		8,840		20,509
Alpha Metallurgical Resources, Inc.		4,131		644,436
Alto Ingredients, Inc. *		20,377		30,566
Amplify Energy Corp. *		9,684		66,529
Arch Resources, Inc.		4,124		542,141
Archrock, Inc.		36,616		357,738
Aris Water Solution, Inc. Class A		5,953		46,374
Array Technologies, Inc. *		41,087		898,984
Battalion Oil Corp. *		478		3,140
Berry Corp.		19,990		156,922
Borr Drilling Ltd. * (United Arab Emirates)		53,673		406,841
Bristow Group, Inc. *		6,668		149,363

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

133

PACIFIC SELECT FUND

SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
California Resources Corp.		20,112		$774,312
Callon Petroleum Co. *		13,217		441,976
ChampionX Corp.		54,585		1,480,891
Chord Energy Corp.		11,379		1,531,613
Civitas Resources, Inc.		20,136		1,376,094
Cleanspark, Inc. *		20,273		56,359
CNX Resources Corp. *		45,574		730,095
Comstock Resources, Inc.		25,777		278,134
CONSOL Energy, Inc.		9,264		539,813
Crescent Energy Co. Class A		10,624		120,157
CVR Energy, Inc.		8,424		276,139
Delek US Holdings, Inc.		19,340		443,853
Denbury, Inc. *		13,695		1,200,093
Diamond Offshore Drilling, Inc. *		27,758		334,206
DMC Global, Inc. *		5,294		116,309
Dril-Quip, Inc. *		8,931		256,230
Earthstone Energy, Inc. Class A *		12,220		158,982
Empire Petroleum Corp. *		2,766		34,326
Energy Vault Holdings, Inc. *		23,503		50,296
Eneti, Inc.		5,910		55,259
Equitrans Midstream Corp.		111,666		645,429
Excelerate Energy, Inc. Class A		5,325		117,896
Expro Group Holdings NV *		23,434		430,248
Fluence Energy, Inc. *		9,905		200,576
FuelCell Energy, Inc. *		108,886		310,325
FutureFuel Corp.		7,097		52,376
Gevo, Inc. *		56,762		87,413
Golar LNG Ltd. * (Cameroon)		27,268		588,989
Green Plains, Inc. *		10,265		318,112
Gulfport Energy Corp. *		2,946		235,680
Heliogen, Inc. *		23,931		5,748
Helix Energy Solutions Group, Inc. *		38,090		294,817
Helmerich & Payne, Inc.		28,017		1,001,608
HighPeak Energy, Inc.		1,778		40,894
Kinetik Holdings, Inc.		4,871		152,462
Kosmos Energy Ltd. * (Ghana)		123,293		917,300
Liberty Energy, Inc.		36,474		467,232
Magnolia Oil & Gas Corp. Class A		47,471		1,038,666
Matador Resources Co.		30,720		1,463,808
Montauk Renewables, Inc. *		17,835		140,361
Murphy Oil Corp.		40,258		1,488,741
Nabors Industries Ltd. *		2,394		291,853
NACCO Industries, Inc. Class A		1,080		38,956
National Energy Services Reunited Corp. *		10,489		55,172
Newpark Resources, Inc. *		25,812		99,376
NextDecade Corp. *		8,872		44,094
NexTier Oilfield Solutions, Inc. *		47,356		376,480
Noble Corp. PLC *		22,848		901,811
Northern Oil & Gas, Inc.		18,036		547,393
NOW, Inc. *		29,266		326,316
Oceaneering International, Inc. *		27,215		479,800
Oil States International, Inc. *		17,196		143,243
Par Pacific Holdings, Inc. *		13,898		405,822
Patterson-UTI Energy, Inc.		58,393		683,198
PBF Energy, Inc. Class A		32,257		1,398,664
Peabody Energy Corp. *		32,076		821,146
Permian Resources Corp.		63,849		670,415
ProFrac Holding Corp. Class A *		6,451		81,734
ProPetro Holding Corp. *		24,544		176,471
Ramaco Resources, Inc.		6,187		54,507
Ranger Oil Corp. Class A		5,239		213,961
REX American Resources Corp. *		4,527		129,427
Riley Exploration Permian, Inc.		3,039		115,664
Ring Energy, Inc. *		24,141		45,868
RPC, Inc.		19,550		150,340
SandRidge Energy, Inc. *		5,917		85,264
Select Energy Services, Inc. Class A		19,247		133,959
Shoals Technologies Group, Inc. Class A *		44,301		1,009,620
SilverBow Resources, Inc. *		3,246		74,171
Sitio Royalties Corp. Class A		19,187		433,626
SM Energy Co.		32,846		924,943
Solaris Oilfield Infrastructure, Inc. Class A		8,990		76,775

	Shares		Value
Stem, Inc. *		40,545		$229,890
SunCoke Energy, Inc.		23,274		209,001
Sunnova Energy International, Inc. *		26,517		414,196
SunPower Corp. *		21,646		299,581
Talos Energy, Inc. *		18,638		276,588
Tellurian, Inc. *		143,054		175,956
TETRA Technologies, Inc. *		34,967		92,663
Tidewater, Inc. *		12,889		568,147
TPI Composites, Inc. *		10,178		132,823
US Silica Holdings, Inc. *		20,929		249,892
VAALCO Energy, Inc.		29,265		132,570
Valaris Ltd. *		16,671		1,084,615
Vertex Energy, Inc. *		15,330		151,460
Vital Energy, Inc. *		4,715		214,721
W&T Offshore, Inc. *		26,922		136,764
Warrior Met Coal, Inc.		14,191		520,952
Weatherford International PLC *		19,249		1,142,428
				40,599,677
Financial - 21.0%
1st Source Corp.		4,277		184,553
Acadia Realty Trust REIT		24,153		336,934
ACNB Corp.		2,538		82,612
AFC Gamma, Inc. REIT		4,115		50,038
Agree Realty Corp. REIT		23,948		1,643,072
Alerus Financial Corp.		4,370		70,139
Alexander & Baldwin, Inc. REIT *		19,821		374,815
Alexander’s, Inc. REIT		603		116,831
Amalgamated Financial Corp.		4,180		73,944
Ambac Financial Group, Inc. *		12,470		193,036
Amerant Bancorp, Inc.		7,762		168,901
American Assets Trust, Inc. REIT		13,629		253,363
American Equity Investment Life Holding Co.		19,253		702,542
American National Bankshares, Inc.		3,137		99,443
Ameris Bancorp		17,990		658,074
AMERISAFE, Inc.		5,085		248,911
Angel Oak Mortgage REIT, Inc.		3,681		26,871
Anywhere Real Estate, Inc. *		29,311		154,762
Apartment Investment & Management Co. Class A REIT		40,850		314,137
Apollo Commercial Real Estate Finance, Inc. REIT		37,921		353,045
Apple Hospitality REIT, Inc.		58,715		911,257
Applied Digital Corp. *		20,919		46,859
Arbor Realty Trust, Inc. REIT		44,628		512,776
Ares Commercial Real Estate Corp. REIT		15,222		138,368
Argo Group International Holdings Ltd.		8,821		258,367
Armada Hoffler Properties, Inc. REIT		17,038		201,219
ARMOUR Residential REIT, Inc.		39,030		204,908
Arrow Financial Corp.		3,690		91,918
Artisan Partners Asset Management, Inc. Class A		16,209		518,364
Ashford Hospitality Trust, Inc. REIT *		9,938		31,901
AssetMark Financial Holdings, Inc. *		5,895		185,398
Associated Banc-Corp.		40,725		732,235
Associated Capital Group, Inc. Class A		507		18,734
Atlantic Union Bankshares Corp.		20,360		713,618
Atlanticus Holdings Corp. *		1,279		34,699
Avantax, Inc. *		13,083		344,345
Axos Financial, Inc. *		15,615		576,506
B Riley Financial, Inc.		5,814		165,059
Banc of California, Inc.		12,967		162,477
BancFirst Corp.		5,450		452,895
Banco Latinoamericano de Comercio Exterior SA (Panama)		7,106		123,502
Bancorp, Inc. *		14,708		409,618
Bank First Corp.		1,891		139,140
Bank of Marin Bancorp		4,597		100,628
Bank of NT Butterfield & Son Ltd. (Bermuda)		13,464		363,528
BankUnited, Inc.		20,187		455,822
Bankwell Financial Group, Inc.		1,898		47,184
Banner Corp.		9,489		515,917
Bar Harbor Bankshares		4,199		111,064

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

134

PACIFIC SELECT FUND

SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
BayCom Corp.		3,365		$57,474
BCB Bancorp, Inc.		4,277		56,157
Berkshire Hills Bancorp, Inc.		11,394		285,534
BGC Partners, Inc. Class A		85,462		446,966
Blackstone Mortgage Trust, Inc. Class A REIT		47,467		847,286
Blue Foundry Bancorp *		7,307		69,563
Blue Ridge Bankshares, Inc.		4,942		50,408
Bluerock Homes Trust, Inc. REIT *		996		19,741
Braemar Hotels & Resorts, Inc. REIT		16,471		63,578
Brandywine Realty Trust REIT		48,359		228,738
Bread Financial Holdings, Inc.		8,017		243,075
Bridgewater Bancshares, Inc. *		6,000		65,040
Brightsphere Investment Group, Inc.		8,467		199,652
BrightSpire Capital, Inc. REIT		27,793		163,979
Broadmark Realty Capital, Inc. REIT		36,929		173,566
Broadstone Net Lease, Inc. REIT		47,458		807,261
Brookfield Business Corp. Class A (Canada)		7,170		142,109
Brookline Bancorp, Inc.		23,849		250,415
BRP Group, Inc. Class A *		16,411		417,824
BRT Apartments Corp. REIT		2,962		58,411
Business First Bancshares, Inc.		6,834		117,066
Byline Bancorp, Inc.		6,572		142,087
Cadence Bank		46,120		957,451
Cambridge Bancorp		1,939		125,667
Camden National Corp.		4,199		151,962
Cannae Holdings, Inc. *		18,942		382,250
Capital Bancorp, Inc.		2,234		37,174
Capital City Bank Group, Inc.		3,827		112,169
Capitol Federal Financial, Inc.		33,292		224,055
Capstar Financial Holdings, Inc.		5,885		89,158
CareTrust REIT, Inc.		26,731		523,393
Carter Bankshares, Inc. *		6,979		97,706
Cathay General Bancorp		19,395		669,515
CBL & Associates Properties, Inc. REIT		7,098		181,993
Centerspace REIT		4,153		226,878
Central Pacific Financial Corp.		6,796		121,648
Chatham Lodging Trust REIT		13,379		140,346
Chicago Atlantic Real Estate Finance, Inc.		1,993		26,925
Chimera Investment Corp. REIT		64,931		366,211
Citizens & Northern Corp.		4,143		88,577
City Holding Co.		4,031		366,337
City Office REIT, Inc.		12,171		83,980
Civista Bancshares, Inc.		4,343		73,310
Claros Mortgage Trust, Inc. REIT		25,821		300,815
Clipper Realty, Inc. REIT		3,507		20,130
CNB Financial Corp.		4,622		88,742
CNO Financial Group, Inc.		30,872		685,050
Coastal Financial Corp. *		2,871		103,385
Cohen & Steers, Inc.		6,861		438,830
Colony Bankcorp, Inc.		4,010		40,902
Columbia Financial, Inc. *		8,740		159,767
Community Bank System, Inc.		14,574		764,989
Community Healthcare Trust, Inc. REIT		6,196		226,774
Community Trust Bancorp, Inc.		3,689		139,998
Compass Diversified Holdings		17,056		325,428
Compass, Inc. Class A *		76,879		248,319
ConnectOne Bancorp, Inc.		10,724		189,600
Consumer Portfolio Services, Inc. *		2,941		31,439
Corporate Office Properties Trust REIT		30,726		728,513
Crawford & Co. Class A		4,680		39,125
CrossFirst Bankshares, Inc. *		11,653		122,123
Cryptyde, Inc. *		5,142		428
CTO Realty Growth, Inc. REIT		4,827		83,314
Curo Group Holdings Corp.		5,819		10,067
Cushman & Wakefield PLC *		42,826		451,386
Customers Bancorp, Inc. *		8,592		159,124
CVB Financial Corp.		37,158		619,795
Diamond Hill Investment Group, Inc.		863		142,033
DiamondRock Hospitality Co. REIT		57,973		471,320
Dime Community Bancshares, Inc.		8,897		202,140
Diversified Healthcare Trust REIT		70,553		95,247
Doma Holdings, Inc. *		38,651		15,750

	Shares		Value
Donegal Group, Inc. Class A		4,250		$64,940
Douglas Elliman, Inc.		20,647		64,212
Dynex Capital, Inc. REIT		13,884		168,274
Eagle Bancorp, Inc.		7,888		264,011
Easterly Government Properties, Inc. REIT		23,597		324,223
Eastern Bankshares, Inc.		41,795		527,453
eHealth, Inc. *		6,957		65,118
Ellington Financial, Inc. REIT		15,146		184,933
Elme Communities REIT		23,016		411,066
Empire State Realty Trust, Inc. Class A REIT		37,332		242,285
Employers Holdings, Inc.		7,209		300,543
Enact Holdings, Inc.		8,054		184,114
Encore Capital Group, Inc. *		6,183		311,932
Enova International, Inc. *		8,269		367,392
Enstar Group Ltd. *		3,052		707,423
Enterprise Bancorp, Inc.		2,665		83,841
Enterprise Financial Services Corp.		9,498		423,516
Equity Bancshares, Inc. Class A		4,136		100,794
Equity Commonwealth REIT		28,666		593,673
Esquire Financial Holdings, Inc.		1,920		75,072
Essent Group Ltd.		28,743		1,151,157
Essential Properties Realty Trust, Inc. REIT		38,469		955,955
eXp World Holdings, Inc.		18,376		233,191
EZCORP, Inc. Class A *		14,170		121,862
Farmers & Merchants Bancorp, Inc.		3,097		75,319
Farmers National Banc Corp.		8,886		112,319
Farmland Partners, Inc. REIT		14,392		153,994
FB Financial Corp.		9,412		292,525
Federal Agricultural Mortgage Corp. Class C		2,423		322,719
Federated Hermes, Inc.		23,450		941,283
Finance Of America Cos., Inc. Class A *		5,255		6,516
Financial Institutions, Inc.		4,452		85,835
First BanCorp		49,813		568,864
First Bancorp, Inc.		3,166		81,968
First Bancorp/Southern Pines NC		10,320		366,566
First Bancshares, Inc.		5,708		147,438
First Bank		4,430		44,743
First Busey Corp.		14,444		293,791
First Business Financial Services, Inc.		2,084		63,583
First Commonwealth Financial Corp.		26,911		334,504
First Community Bankshares, Inc.		4,892		122,545
First Financial Bancorp		25,021		544,707
First Financial Bankshares, Inc.		35,422		1,129,962
First Financial Corp.		2,998		112,365
First Foundation, Inc.		14,379		107,124
First Guaranty Bancshares, Inc.		1,411		22,110
First Internet Bancorp		2,673		44,505
First Interstate BancSystem, Inc. Class A		24,379		727,957
First Merchants Corp.		15,591		513,723
First Mid Bancshares, Inc.		5,363		145,981
First of Long Island Corp.		6,523		88,061
First Western Financial, Inc. *		1,760		34,848
Five Star Bancorp		3,543		75,608
Flushing Financial Corp.		7,798		116,112
Focus Financial Partners, Inc. Class A *		15,754		817,160
Four Corners Property Trust, Inc. REIT		22,511		604,645
Franklin BSP Realty Trust, Inc. REIT		22,518		268,640
Franklin Street Properties Corp. REIT		29,405		46,166
FRP Holdings, Inc. *		1,863		107,830
Fulton Financial Corp.		44,113		609,642
FVCBankcorp, Inc. *		3,783		40,289
GCM Grosvenor, Inc. Class A		11,898		92,923
Genworth Financial, Inc. Class A *		137,169		688,588
German American Bancorp, Inc.		7,675		256,115
Getty Realty Corp. REIT		11,224		404,401
Glacier Bancorp, Inc.		30,296		1,272,735
Gladstone Commercial Corp. REIT		10,476		132,312
Gladstone Land Corp. REIT		8,305		138,278
Global Medical REIT, Inc.		17,213		156,810
Global Net Lease, Inc. REIT		28,727		369,429
Goosehead Insurance, Inc. Class A *		5,043		263,245
Granite Point Mortgage Trust, Inc. REIT		15,191		75,347

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Great Southern Bancorp, Inc.		2,460		$124,673
Greene County Bancorp, Inc.		1,548		35,109
Greenlight Capital Re Ltd. Class A *		7,649		71,824
Guaranty Bancshares, Inc.		2,295		63,962
Hamilton Lane, Inc. Class A		9,709		718,272
Hancock Whitney Corp.		23,593		858,785
Hanmi Financial Corp.		8,694		161,448
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT		23,649		676,361
HarborOne Bancorp, Inc.		12,421		151,536
HBT Financial, Inc.		2,753		54,289
HCI Group, Inc.		1,867		100,071
Heartland Financial USA, Inc.		11,395		437,112
Heritage Commerce Corp.		16,489		137,353
Heritage Financial Corp.		9,657		206,660
Hersha Hospitality Trust REIT		9,820		65,990
Hilltop Holdings, Inc.		13,465		399,507
Hingham Institution For Savings		413		96,411
Hippo Holdings, Inc. *		4,255		69,059
Home Bancorp, Inc.		2,196		72,534
Home BancShares, Inc.		51,451		1,117,001
Home Point Capital, Inc.		1,960		3,783
HomeStreet, Inc.		5,106		91,857
HomeTrust Bancshares, Inc.		3,954		97,229
Hope Bancorp, Inc.		32,619		320,319
Horace Mann Educators Corp.		10,803		361,684
Horizon Bancorp, Inc.		10,763		119,039
Houlihan Lokey, Inc.		13,800		1,207,362
Independence Realty Trust, Inc. REIT		61,175		980,635
Independent Bank Corp.		12,655		830,421
Independent Bank Corp. MI		5,801		103,084
Independent Bank Group, Inc.		9,548		442,550
Indus Realty Trust, Inc. REIT		1,352		89,624
Industrial Logistics Properties Trust REIT		18,680		57,348
Innovative Industrial Properties, Inc. REIT		7,529		572,129
International Bancshares Corp.		14,618		625,943
International Money Express, Inc. *		8,259		212,917
InvenTrust Properties Corp. REIT		18,151		424,733
Invesco Mortgage Capital, Inc. REIT		9,273		102,838
Investors Title Co.		373		56,323
iStar, Inc. REIT *		10,953		321,677
Jackson Financial, Inc. Class A		20,160		754,186
James River Group Holdings Ltd.		9,238		190,765
John Marshall Bancorp, Inc.		3,207		69,271
Kearny Financial Corp.		16,274		132,145
Kennedy-Wilson Holdings, Inc.		32,099		532,522
Kinsale Capital Group, Inc.		5,908		1,773,285
Kite Realty Group Trust REIT		59,425		1,243,171
KKR Real Estate Finance Trust, Inc. REIT		16,175		184,233
Ladder Capital Corp. REIT		30,782		290,890
Lakeland Bancorp, Inc.		16,386		256,277
Lakeland Financial Corp.		6,647		416,368
Legacy Housing Corp. *		2,286		52,029
Lemonade, Inc. *		12,860		183,384
LendingClub Corp. *		28,655		206,603
LendingTree, Inc. *		3,022		80,567
Live Oak Bancshares, Inc.		9,311		226,909
LTC Properties, Inc. REIT		11,094		389,732
Luther Burbank Corp.		4,448		42,167
LXP Industrial Trust REIT		73,997		762,909
Macatawa Bank Corp.		7,514		76,793
Macerich Co. REIT		58,824		623,534
Marcus & Millichap, Inc.		6,955		223,325
MBIA, Inc. *		13,661		126,501
McGrath RentCorp		6,653		620,791
Mercantile Bank Corp.		4,061		124,185
Merchants Bancorp		4,198		109,316
Mercury General Corp.		7,482		237,479
Metrocity Bankshares, Inc.		5,458		93,277
Metropolitan Bank Holding Corp. *		2,787		94,451
MFA Financial, Inc. REIT		28,869		286,380
Mid Penn Bancorp, Inc.		4,078		104,438

	Shares		Value
Midland States Bancorp, Inc.		6,065		$129,912
MidWestOne Financial Group, Inc.		4,126		100,757
Moelis & Co. Class A		17,370		667,703
Mr Cooper Group, Inc. *		18,797		770,113
MVB Financial Corp.		2,897		59,794
National Bank Holdings Corp. Class A		7,737		258,880
National Health Investors, Inc. REIT		11,339		584,866
National Western Life Group, Inc. Class A		618		149,939
Navient Corp.		27,674		442,507
NBT Bancorp, Inc.		11,309		381,226
Necessity Retail REIT, Inc. REIT		37,120		233,114
Nelnet, Inc. Class A		4,061		373,165
NerdWallet, Inc. Class A *		7,145		115,606
NETSTREIT Corp. REIT		15,207		277,984
New York Mortgage Trust, Inc. REIT *		25,592		254,896
Newmark Group, Inc. Class A		38,156		270,144
Nexpoint Real Estate Finance, Inc. REIT		1,781		27,908
NexPoint Residential Trust, Inc. REIT		5,961		260,317
NI Holdings, Inc. *		2,437		31,681
Nicolet Bankshares, Inc. *		3,237		204,093
NMI Holdings, Inc. Class A *		22,051		492,399
Northeast Bank		1,878		63,213
Northfield Bancorp, Inc.		10,985		129,403
Northwest Bancshares, Inc.		32,331		388,942
OceanFirst Financial Corp.		15,899		293,814
Offerpad Solutions, Inc. *		19,220		10,129
Office Properties Income Trust REIT		13,833		170,146
OFG Bancorp		12,930		322,474
Old National Bancorp		80,348		1,158,618
Old Second Bancorp, Inc.		11,761		165,360
One Liberty Properties, Inc. REIT		4,590		105,249
Oportun Financial Corp. *		8,309		32,073
Oppenheimer Holdings, Inc. Class A		2,365		92,590
OppFi, Inc. *		2,693		5,521
Orchid Island Capital, Inc. REIT		8,905		95,551
Origin Bancorp, Inc.		6,361		204,506
Orion Office REIT, Inc. REIT		15,895		106,497
Orrstown Financial Services, Inc.		3,134		62,241
Outfront Media, Inc. REIT		39,558		642,026
Pacific Premier Bancorp, Inc.		24,843		596,729
Palomar Holdings, Inc. *		6,634		366,197
Paramount Group, Inc. REIT		47,763		217,799
Park National Corp.		3,897		462,067
Parke Bancorp, Inc.		3,261		57,981
Pathward Financial, Inc.		7,274		301,798
PCB Bancorp		3,596		52,106
Peapack-Gladstone Financial Corp.		4,471		132,431
Pebblebrook Hotel Trust REIT		36,102		506,872
PennyMac Financial Services, Inc.		7,472		445,406
PennyMac Mortgage Investment Trust REIT		24,429		301,210
Peoples Bancorp, Inc.		7,263		187,022
Peoples Financial Services Corp.		1,981		85,876
Perella Weinberg Partners		10,327		93,976
Phillips Edison & Co., Inc. REIT		32,364		1,055,714
Physicians Realty Trust REIT		61,837		923,226
Piedmont Office Realty Trust, Inc. Class A REIT		30,426		222,110
Pioneer Bancorp, Inc. *		3,302		32,558
Piper Sandler Cos.		4,727		655,209
PJT Partners, Inc. Class A		6,391		461,366
Plymouth Industrial REIT, Inc. REIT		10,352		217,496
Postal Realty Trust, Inc. Class A REIT		5,575		84,852
PotlatchDeltic Corp. REIT		21,748		1,076,526
PRA Group, Inc. *		10,304		401,444
Preferred Bank		2,729		149,576
Premier Financial Corp.		9,188		190,467
Primis Financial Corp.		6,934		66,774
ProAssurance Corp.		15,153		280,027
Provident Bancorp, Inc.		4,605		31,498
Provident Financial Services, Inc.		19,430		372,667
QCR Holdings, Inc.		4,401		193,248
Radian Group, Inc.		42,876		947,560
Radius Global Infrastructure, Inc. Class A *		21,153		310,315

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

136

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
RBB Bancorp		4,055		$62,853
RE/MAX Holdings, Inc. Class A		5,257		98,621
Ready Capital Corp. REIT		19,695		200,298
Red River Bancshares, Inc.		1,395		67,113
Redfin Corp. *		28,059		254,215
Redwood Trust, Inc. REIT		29,869		201,317
Regional Management Corp.		2,179		56,850
Renasant Corp.		14,687		449,128
Republic Bancorp, Inc. Class A		2,481		105,269
Republic First Bancorp, Inc. *		12,170		16,551
Retail Opportunity Investments Corp. REIT		31,028		433,151
RLI Corp.		10,694		1,421,340
RLJ Lodging Trust REIT		42,658		452,175
RMR Group, Inc. Class A		4,232		111,048
Root, Inc. Class A *		2,147		9,683
RPT Realty REIT		23,181		220,451
Ryman Hospitality Properties, Inc. REIT		14,693		1,318,403
S&T Bancorp, Inc.		10,345		325,350
Sabra Health Care REIT, Inc.		62,757		721,706
Safety Insurance Group, Inc.		3,743		278,928
Sandy Spring Bancorp, Inc.		11,460		297,731
Saul Centers, Inc. REIT		3,363		131,157
Sculptor Capital Management, Inc.		6,599		56,817
Seacoast Banking Corp. of Florida		17,753		420,746
Selective Insurance Group, Inc.		16,316		1,555,404
Selectquote, Inc. *		38,528		83,606
Service Properties Trust REIT		44,592		444,136
ServisFirst Bancshares, Inc.		13,709		748,923
Shore Bancshares, Inc.		5,478		78,226
Sierra Bancorp		4,016		69,156
Silvercrest Asset Management Group, Inc. Class A		2,703		49,141
Simmons First National Corp. Class A		32,914		575,666
SiriusPoint Ltd. * (Bermuda)		26,349		214,217
SITE Centers Corp. REIT		52,075		639,481
Skyward Specialty Insurance Group, Inc. *		1,994		43,609
SmartFinancial, Inc.		3,979		92,074
South Plains Financial, Inc.		2,964		63,459
Southern First Bancshares, Inc. *		2,115		64,931
Southern Missouri Bancorp, Inc.		2,222		83,125
Southside Bancshares, Inc.		8,002		265,666
SouthState Corp.		20,508		1,461,400
St. Joe Co.		9,580		398,624
STAG Industrial, Inc. REIT		49,453		1,672,500
Star Holdings *		3,395		59,039
Stellar Bancorp, Inc.		12,396		305,066
StepStone Group, Inc. Class A		14,887		361,307
Sterling Bancorp, Inc. *		5,290		29,941
Stewart Information Services Corp.		7,525		303,634
Stock Yards Bancorp, Inc.		7,873		434,117
StoneX Group, Inc. *		4,838		500,878
Stratus Properties, Inc.		1,416		28,320
Summit Financial Group, Inc.		3,486		72,335
Summit Hotel Properties, Inc. REIT		29,249		204,743
Sunlight Financial Holdings, Inc. *		7,562		2,362
Sunstone Hotel Investors, Inc. REIT		57,423		567,339
SWK Holdings Corp. *		1,531		27,344
Tanger Factory Outlet Centers, Inc. REIT		27,148		532,915
Terreno Realty Corp. REIT		21,899		1,414,675
Texas Capital Bancshares, Inc. *		13,250		648,720
Third Coast Bancshares, Inc. *		3,504		55,048
Tiptree, Inc.		6,469		94,253
Tompkins Financial Corp.		3,821		252,988
Towne Bank		19,054		507,789
TPG RE Finance Trust, Inc. REIT		18,201		132,139
Transcontinental Realty Investors, Inc. REIT *		349		14,794
Trean Insurance Group, Inc. *		6,132		37,528
TriCo Bancshares		8,442		351,103
Triumph Financial, Inc. *		6,284		364,849
Trupanion, Inc. *		10,516		451,031
TrustCo Bank Corp.		5,333		170,336
Trustmark Corp.		16,544		408,637
Two Harbors Investment Corp. REIT		25,738		378,606

	Shares		Value
UMB Financial Corp.		12,141		$700,779
UMH Properties, Inc. REIT		14,325		211,867
United Bankshares, Inc.		35,955		1,265,616
United Community Banks, Inc.		28,350		797,202
United Fire Group, Inc.		5,938		157,654
Uniti Group, Inc. REIT		66,310		235,401
Unity Bancorp, Inc.		2,261		51,573
Universal Health Realty Income Trust REIT		3,362		161,746
Universal Insurance Holdings, Inc.		6,721		122,457
Univest Financial Corp.		8,159		193,695
Urban Edge Properties REIT		30,102		453,336
Urstadt Biddle Properties, Inc. Class A REIT		7,347		129,087
USCB Financial Holdings, Inc. *		2,558		25,299
Valley National Bancorp		117,672		1,087,289
Velocity Financial, Inc. *		2,465		22,259
Veris Residential, Inc. REIT *		23,949		350,613
Veritex Holdings, Inc.		13,677		249,742
Victory Capital Holdings, Inc. Class A		4,290		125,568
Virtus Investment Partners, Inc.		1,849		352,031
Walker & Dunlop, Inc.		8,291		631,525
Washington Federal, Inc.		17,448		525,534
Washington Trust Bancorp, Inc.		4,592		159,159
Waterstone Financial, Inc.		5,473		82,806
WesBanco, Inc.		15,303		469,802
West BanCorp, Inc.		4,532		82,800
Westamerica BanCorp		6,938		307,353
Whitestone REIT		14,017		128,956
WisdomTree, Inc.		37,968		222,492
World Acceptance Corp. *		1,113		92,702
WSFS Financial Corp.		16,763		630,456
Xenia Hotels & Resorts, Inc. REIT		31,056		406,523
				133,702,805
Industrial - 14.6%
908 Devices, Inc. *		6,002		51,617
AAON, Inc.		11,974		1,157,766
AAR Corp. *		8,890		484,949
Advanced Energy Industries, Inc.		10,220		1,001,560
Aerojet Rocketdyne Holdings, Inc. *		21,710		1,219,451
AeroVironment, Inc. *		6,626		607,339
AerSale Corp. *		7,056		121,504
AEye, Inc. *		36,289		11,424
Air Transport Services Group, Inc. *		15,337		319,470
Akoustis Technologies, Inc. *		13,687		42,156
Alamo Group, Inc.		2,728		502,388
Albany International Corp. Class A		8,499		759,471
Allied Motion Technologies, Inc.		3,446		133,188
American Woodmark Corp. *		4,645		241,865
AMMO, Inc. *		24,273		47,818
Apogee Enterprises, Inc.		5,639		243,887
Applied Industrial Technologies, Inc.		10,458		1,486,396
ArcBest Corp.		6,566		606,830
Archer Aviation, Inc. Class A *		38,942		111,374
Arcosa, Inc.		13,155		830,212
Ardmore Shipping Corp. (Ireland)		10,774		160,209
Argan, Inc.		3,217		130,192
Astec Industries, Inc.		6,382		263,258
Astra Space, Inc. *		41,037		17,441
Astronics Corp. *		6,683		89,285
Atkore, Inc. *		10,737		1,508,334
Atlas Technical Consultants, Inc. *		4,893		59,646
Babcock & Wilcox Enterprises, Inc. *		15,816		95,845
Badger Meter, Inc.		7,995		973,951
Barnes Group, Inc.		13,021		524,486
Belden, Inc.		11,601		1,006,619
Benchmark Electronics, Inc.		9,797		232,091
Berkshire Grey, Inc. *		14,515		20,031
Blink Charging Co. *		10,403		89,986
Bloom Energy Corp. Class A *		48,936		975,294
Boise Cascade Co.		10,660		674,245
Brady Corp. Class A		12,274		659,482

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

137

PACIFIC SELECT FUND

SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Cactus, Inc. Class A		17,121		$705,899
Cadre Holdings, Inc.		5,135		110,608
Caesarstone Ltd.		6,257		25,841
Casella Waste Systems, Inc. Class A *		13,611		1,125,085
Centrus Energy Corp. Class A *		2,692		86,682
Charge Enterprises, Inc. *		35,341		38,875
Chart Industries, Inc. *		11,614		1,456,396
Chase Corp.		2,138		223,913
CIRCOR International, Inc. *		5,191		161,544
Clearwater Paper Corp. *		4,741		158,444
Columbus McKinnon Corp.		7,211		267,961
Comfort Systems USA, Inc.		9,695		1,415,082
Comtech Telecommunications Corp.		7,330		91,478
Concrete Pumping Holdings, Inc. *		7,352		49,994
Construction Partners, Inc. Class A *		11,205		301,863
Costamare, Inc. (Monaco)		14,551		136,925
Covenant Logistics Group, Inc.		2,358		83,520
CryoPort, Inc. *		12,389		297,336
CSW Industrials, Inc.		3,993		554,747
CTS Corp.		8,529		421,844
Daseke, Inc. *		11,415		88,238
DHT Holdings, Inc.		37,261		402,791
Dorian LPG Ltd.		8,850		176,469
Ducommun, Inc. *		2,897		158,495
DXP Enterprises, Inc. *		4,005		107,815
Dycom Industries, Inc. *		7,855		735,621
Eagle Bulk Shipping, Inc.		3,708		168,714
Eastman Kodak Co. *		16,400		67,240
EMCOR Group, Inc.		12,905		2,098,224
Encore Wire Corp.		4,806		890,696
Energizer Holdings, Inc.		19,171		665,234
Energy Recovery, Inc. *		15,179		349,876
Enerpac Tool Group Corp.		15,642		398,871
EnerSys		11,116		965,758
Enovix Corp. *		30,449		453,995
EnPro Industries, Inc.		5,623		584,173
ESCO Technologies, Inc.		7,031		671,109
ESS Tech, Inc. *		22,363		31,085
Evolv Technologies Holdings, Inc. *		22,559		70,384
Evoqua Water Technologies Corp. *		32,039		1,592,979
Exponent, Inc.		13,864		1,382,102
Fabrinet * (Thailand)		10,094		1,198,763
FARO Technologies, Inc. *		5,229		128,686
Federal Signal Corp.		16,428		890,562
FLEX LNG Ltd. * (Norway)		7,906		265,483
Fluor Corp. *		38,792		1,199,061
Forward Air Corp.		7,354		792,467
Franklin Electric Co., Inc.		12,592		1,184,907
Frontdoor, Inc. *		22,410		624,791
Frontline PLC (Norway)		34,039		563,686
GATX Corp.		9,535		1,049,041
Genco Shipping & Trading Ltd.		10,245		160,437
Gibraltar Industries, Inc. *		8,614		417,779
Golden Ocean Group Ltd. * (Norway)		34,268		326,231
GoPro, Inc. Class A *		36,282		182,498
Gorman-Rupp Co.		6,529		163,225
GrafTech International Ltd.		54,669		265,691
Granite Construction, Inc.		11,934		490,249
Great Lakes Dredge & Dock Corp. *		18,291		99,320
Greenbrier Cos., Inc.		8,915		286,796
Greif, Inc. Class A		6,792		430,409
Greif, Inc. Class B		1,595		122,049
Griffon Corp.		11,848		379,254
Harsco Corp. *		22,315		152,411
Heartland Express, Inc.		12,942		206,037
Helios Technologies, Inc.		8,771		573,623
Heritage-Crystal Clean, Inc. *		4,452		158,536
Hillenbrand, Inc.		18,850		895,940
Hillman Solutions Corp. *		37,069		312,121
Hub Group, Inc. Class A *		8,742		733,803
Hydrofarm Holdings Group, Inc. *		11,190		19,359
Hyster-Yale Materials Handling, Inc.		2,847		142,037

	Shares		Value
Ichor Holdings Ltd. *		7,973		$261,036
Identiv, Inc. *		5,886		36,140
IES Holdings, Inc. *		2,461		106,044
Insteel Industries, Inc.		5,299		147,418
International Seaways, Inc.		13,199		550,134
Itron, Inc. *		12,255		679,540
Janus International Group, Inc. *		22,097		217,876
JELD-WEN Holding, Inc. *		21,982		278,292
Joby Aviation, Inc. *		70,674		306,725
John Bean Technologies Corp.		8,596		939,457
Kadant, Inc.		3,154		657,672
Kaman Corp.		7,854		179,542
Karat Packaging, Inc.		1,306		17,409
Kennametal, Inc.		21,694		598,321
Kimball Electronics, Inc. *		6,838		164,796
Knowles Corp. *		24,139		410,363
Kratos Defense & Security Solutions, Inc. *		33,181		447,280
Latham Group, Inc. *		12,303		35,187
Li-Cycle Holdings Corp. * (Canada)		38,046		214,199
Lindsay Corp.		2,958		447,043
LSB Industries, Inc. *		20,528		212,054
Luxfer Holdings PLC (United Kingdom)		7,978		134,828
Manitowoc Co., Inc. *		9,869		168,661
Marten Transport Ltd.		15,506		324,851
Masonite International Corp. *		5,971		541,988
Materion Corp.		5,551		643,916
Matson, Inc.		10,082		601,593
Mesa Laboratories, Inc.		1,427		249,340
MicroVision, Inc. *		47,491		126,801
Mirion Technologies, Inc. *		37,506		320,301
Modine Manufacturing Co. *		13,216		304,629
Momentus, Inc. *		14,804		8,660
Montrose Environmental Group, Inc. *		7,599		271,056
Moog, Inc. Class A		7,899		795,824
Mueller Industries, Inc.		15,179		1,115,353
Mueller Water Products, Inc. Class A		42,897		597,984
Myers Industries, Inc.		9,513		203,864
MYR Group, Inc. *		4,452		560,997
Napco Security Technologies, Inc. *		8,336		313,267
National Presto Industries, Inc.		1,278		92,131
NEXTracker, Inc. Class A *		8,268		299,798
NL Industries, Inc.		2,103		12,744
nLight, Inc. *		12,119		123,371
Nordic American Tankers Ltd.		54,274		214,925
Northwest Pipe Co. *		2,663		83,165
Novanta, Inc. *		9,714		1,545,400
NuScale Power Corp. *		8,574		77,938
NV5 Global, Inc. *		3,614		375,748
O-I Glass, Inc. *		42,008		954,002
Olympic Steel, Inc.		2,532		132,196
Omega Flex, Inc.		916		102,079
OSI Systems, Inc. *		4,334		443,628
Pactiv Evergreen, Inc.		12,227		97,816
PAM Transportation Services, Inc. *		2,014		57,661
Park Aerospace Corp.		5,378		72,334
PGT Innovations, Inc. *		15,353		385,514
Plexus Corp. *		7,432		725,140
Powell Industries, Inc.		2,698		114,908
Primoris Services Corp.		14,675		361,886
Proto Labs, Inc. *		7,484		248,095
Pure Cycle Corp. *		5,726		54,111
PureCycle Technologies, Inc. *		29,874		209,118
Radiant Logistics, Inc. *		11,157		73,190
Ranpak Holdings Corp. *		10,823		56,496
RBC Bearings, Inc. *		7,775		1,809,476
Redwire Corp. *		6,759		20,480
Rocket Lab USA, Inc. *		60,053		242,614
Ryerson Holding Corp.		5,165		187,903
Safe Bulkers, Inc. (Greece)		19,002		70,117
Saia, Inc. *		7,241		1,970,131
Sanmina Corp. *		15,612		952,176
Sarcos Technology & Robotics Corp. *		29,082		13,805

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

138

PACIFIC SELECT FUND

SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Scorpio Tankers, Inc. (Monaco)		12,789		$720,149
SFL Corp. Ltd. (Norway)		31,383		298,139
Sight Sciences, Inc. *		6,414		56,058
Simpson Manufacturing Co., Inc.		11,622		1,274,236
SmartRent, Inc. *		33,349		85,040
Smith & Wesson Brands, Inc.		12,689		156,202
SPX Technologies, Inc. *		11,973		845,054
Standex International Corp.		3,173		388,502
Sterling Infrastructure, Inc. *		7,997		302,926
Stoneridge, Inc. *		7,629		142,662
Sturm Ruger & Co., Inc.		4,755		273,127
Summit Materials, Inc. Class A *		32,336		921,253
Teekay Corp. * (Bermuda)		19,788		122,290
Teekay Tankers Ltd. Class A * (Canada)		6,129		263,118
Tennant Co.		4,844		331,959
Terex Corp.		18,194		880,226
Thermon Group Holdings, Inc. *		9,371		233,525
TimkenSteel Corp. *		11,882		217,916
Transphorm, Inc. *		5,790		23,102
Tredegar Corp.		7,911		72,227
TriMas Corp.		11,117		309,720
Trinity Industries, Inc.		22,151		539,598
Triumph Group, Inc. *		17,961		208,168
TTM Technologies, Inc. *		27,907		376,465
Turtle Beach Corp. *		4,263		42,715
Tutor Perini Corp. *		11,284		69,622
UFP Industries, Inc.		16,274		1,293,295
Universal Logistics Holdings, Inc.		1,745		50,867
Vicor Corp. *		6,066		284,738
View, Inc. *		34,012		17,006
Vishay Intertechnology, Inc.		35,739		808,416
Vishay Precision Group, Inc. *		3,263		136,263
Watts Water Technologies, Inc. Class A		7,436		1,251,628
Werner Enterprises, Inc.		17,306		787,250
Worthington Industries, Inc.		8,659		559,804
Xometry, Inc. Class A *		9,527		142,619
Zurn Elkay Water Solutions Corp.		33,652		718,807
				93,225,447
Technology - 10.4%
3D Systems Corp. *		33,692		361,178
8x8, Inc. *		29,941		124,854
ACI Worldwide, Inc. *		30,575		824,913
ACM Research, Inc. Class A *		13,302		155,633
ACV Auctions, Inc. Class A *		31,905		411,894
Adeia, Inc.		29,025		257,162
Agilysys, Inc. *		5,498		453,640
Alignment Healthcare, Inc. *		27,540		175,154
Alkami Technology, Inc. *		10,533		133,348
Alpha & Omega Semiconductor Ltd. *		6,115		164,799
Altair Engineering, Inc. Class A *		14,229		1,026,053
Ambarella, Inc. *		10,000		774,200
American Software, Inc. Class A		8,132		102,545
Amkor Technology, Inc.		27,655		719,583
Amplitude, Inc. Class A *		15,782		196,328
Apollo Medical Holdings, Inc. *		10,836		395,189
Appfolio, Inc. Class A *		5,301		659,868
Appian Corp. Class A *		10,863		482,100
Arteris, Inc. *		5,296		22,402
Asana, Inc. Class A *		19,700		416,261
Atomera, Inc. *		6,243		39,768
AvePoint, Inc. *		35,515		146,322
Avid Technology, Inc. *		9,399		300,580
AvidXchange Holdings, Inc. *		38,970		303,966
Axcelis Technologies, Inc. *		8,854		1,179,795
AXT, Inc. *		11,917		47,430
Bandwidth, Inc. Class A *		6,640		100,928
BigCommerce Holdings, Inc. *		18,308		163,674
Blackbaud, Inc. *		12,687		879,209
Blackline, Inc. *		15,072		1,012,085
Blend Labs, Inc. Class A *		51,984		51,786

	Shares		Value
Box, Inc. Class A *		38,197		$1,023,298
Brightcove, Inc. *		12,051		53,627
C3.ai, Inc. Class A *		16,183		543,263
Cantaloupe, Inc. *		16,603		94,637
Cardlytics, Inc. *		9,074		30,806
Cerberus Cyber Sentinel Corp. *		12,986		4,389
Cerence, Inc. *		11,241		315,760
CEVA, Inc. *		6,475		197,034
Clear Secure, Inc. Class A		17,582		460,121
Cohu, Inc. *		12,683		486,900
CommVault Systems, Inc. *		12,157		689,788
Computer Programs & Systems, Inc. *		4,031		121,736
Conduent, Inc. *		47,287		162,194
Consensus Cloud Solutions, Inc. *		5,162		175,973
Corsair Gaming, Inc. *		10,756		197,373
CS Disco, Inc. *		6,360		42,230
CSG Systems International, Inc.		8,367		449,308
Cvent Holding Corp. *		13,601		113,704
Daily Journal Corp. *		344		98,026
Desktop Metal, Inc. Class A *		74,045		170,304
Diebold Nixdorf, Inc. *		20,849		25,019
Digi International, Inc. *		9,707		326,932
Digimarc Corp. *		3,820		75,063
Digital Turbine, Inc. *		24,758		306,009
DigitalOcean Holdings, Inc. *		18,954		742,428
Diodes, Inc. *		12,167		1,128,611
Domo, Inc. Class B *		8,752		124,191
Donnelley Financial Solutions, Inc. *		6,807		278,134
Duolingo, Inc. *		6,620		943,946
E2open Parent Holdings, Inc. *		53,117		309,141
Ebix, Inc.		7,481		98,674
eGain Corp. *		5,873		44,576
Enfusion, Inc. Class A *		7,114		74,697
EngageSmart, Inc. *		10,024		192,962
Envestnet, Inc. *		14,895		873,890
Everbridge, Inc. *		10,638		368,819
EverCommerce, Inc. *		6,233		65,945
Evolent Health, Inc. Class A *		22,260		722,337
ExlService Holdings, Inc. *		8,843		1,431,063
Faraday Future Intelligent Electric, Inc. *		127,442		45,127
Fastly, Inc. Class A *		30,618		543,776
ForgeRock, Inc. Class A *		11,850		244,110
FormFactor, Inc. *		20,913		666,079
Grid Dynamics Holdings, Inc. *		15,267		174,960
Health Catalyst, Inc. *		15,442		180,208
HireRight Holdings Corp. *		5,970		63,342
IBEX Holdings Ltd. *		2,665		65,026
Impinj, Inc. *		5,913		801,330
Insight Enterprises, Inc. *		8,632		1,234,031
Inspired Entertainment, Inc. *		5,923		75,755
Instructure Holdings, Inc. *		4,867		126,055
Intapp, Inc. *		4,189		187,835
Integral Ad Science Holding Corp. *		10,995		156,899
IonQ, Inc. *		33,681		207,138
IronNet, Inc. *		18,125		6,373
Kaleyra, Inc. * (Italy)		2,647		4,368
Kulicke & Soffa Industries, Inc. (Singapore)		15,197		800,730
Latch, Inc. *		25,273		19,261
LivePerson, Inc. *		20,407		89,995
LiveVox Holdings, Inc. *		4,002		12,366
MACOM Technology Solutions Holdings, Inc. *		14,775		1,046,661
Markforged Holding Corp. *		30,345		29,095
Matterport, Inc. *		62,120		169,588
Maximus, Inc.		16,489		1,297,684
MaxLinear, Inc. *		19,672		692,651
MeridianLink, Inc. *		6,513		112,675
MicroStrategy, Inc. Class A *		2,620		765,878
Mitek Systems, Inc. *		12,097		116,010
Model N, Inc. *		10,009		335,001
Momentive Global, Inc. *		35,080		326,946
N-Able, Inc. *		18,794		248,081
NetScout Systems, Inc. *		18,384		526,702

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

139

PACIFIC SELECT FUND

SMALL-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
NextGen Healthcare, Inc. *		14,849		$258,521
NextNav, Inc. *		17,389		35,300
Nutex Health, Inc. *		68,617		69,303
Olo, Inc. Class A *		25,454		207,705
ON24, Inc. *		11,692		102,422
OneSpan, Inc. *		10,665		186,638
Onto Innovation, Inc. *		13,517		1,187,874
Ouster, Inc. *		68,759		57,531
Outbrain, Inc. *		11,464		47,346
Outset Medical, Inc. *		12,778		235,115
PagerDuty, Inc. *		23,478		821,260
PAR Technology Corp. *		7,150		242,814
Parsons Corp. *		9,339		417,827
PDF Solutions, Inc. *		8,366		354,718
Pear Therapeutics, Inc. *		16,282		4,152
Photronics, Inc. *		15,785		261,715
Phreesia, Inc. *		13,273		428,585
Pitney Bowes, Inc.		36,845		143,327
Playstudios, Inc. *		21,641		79,855
Porch Group, Inc. *		22,166		31,697
Power Integrations, Inc.		15,501		1,312,005
PowerSchool Holdings, Inc. Class A *		12,660		250,921
Privia Health Group, Inc. *		13,891		383,531
Progress Software Corp.		11,979		688,194
PROS Holdings, Inc. *		11,491		314,853
PubMatic, Inc. Class A *		11,723		162,012
Qualys, Inc. *		10,528		1,368,851
Rackspace Technology, Inc. *		15,323		28,807
Rambus, Inc. *		29,245		1,499,099
Rapid7, Inc. *		16,058		737,223
Red Violet, Inc. *		2,399		42,222
Rigetti Computing, Inc. Class A *		29,356		21,236
Rimini Street, Inc. *		12,495		51,479
Sapiens International Corp. NV (Israel)		8,792		190,962
Schrodinger, Inc. *		14,550		383,102
SecureWorks Corp. Class A *		3,091		26,490
Semtech Corp. *		16,941		408,956
Sharecare, Inc. *		79,589		113,016
Silicon Laboratories, Inc. *		8,643		1,513,303
Simulations Plus, Inc.		4,480		196,851
SiTime Corp. *		4,466		635,199
Skillsoft Corp. *		22,120		44,240
Skillz, Inc. *		86,751		51,461
SkyWater Technology, Inc. *		2,918		33,207
SMART Global Holdings, Inc. *		12,847		221,482
SolarWinds Corp. *		13,154		113,124
Sprout Social, Inc. Class A *		12,763		777,011
SPS Commerce, Inc. *		9,939		1,513,710
Sumo Logic, Inc. *		31,433		376,567
Super Micro Computer, Inc. *		12,739		1,357,340
Synaptics, Inc. *		10,758		1,195,752
Telos Corp. *		15,266		38,623
Tenable Holdings, Inc. *		30,486		1,448,390
TTEC Holdings, Inc.		5,268		196,128
Ultra Clean Holdings, Inc. *		12,071		400,274
Unisys Corp. *		18,871		73,219
Upland Software, Inc. *		8,046		34,598
Varonis Systems, Inc. *		29,106		757,047
Veeco Instruments, Inc. *		13,152		277,902
Velo3D, Inc. *		16,740		38,000
Veradigm, Inc. *		29,643		386,841
Verint Systems, Inc. *		17,944		668,235
Veritone, Inc. *		8,078		47,095
Verra Mobility Corp. *		38,212		646,547
Viant Technology, Inc. Class A *		3,169		13,785
Vimeo, Inc. *		40,522		155,199
Vuzix Corp. *		16,544		68,492
Weave Communications, Inc. *		8,134		40,426
WM Technology, Inc. *		20,230		17,179
Workiva, Inc. *		13,016		1,332,969
Xerox Holdings Corp.		31,584		486,394
Yext, Inc. *		29,752		285,917

	Shares		Value
Zeta Global Holdings Corp. Class A *		30,186		$ 326,914
Zuora, Inc. Class A *		33,930		335,228
				66,278,604
Utilities - 3.3%
ALLETE, Inc.		15,597		1,003,979
Altus Power, Inc. *		24,359		133,487
Ameresco, Inc. Class A *		8,514		419,059
American States Water Co.		10,072		895,300
Artesian Resources Corp. Class A		2,171		120,187
Avista Corp.		19,936		846,283
Black Hills Corp.		17,724		1,118,384
Brookfield Infrastructure Corp. Class A (Canada)		26,758		1,232,474
California Water Service Group		14,792		860,894
Chesapeake Utilities Corp.		4,725		604,753
Clearway Energy, Inc. Class A		9,933		298,288
Clearway Energy, Inc. Class C		22,029		690,169
FTC Solar, Inc. *		11,755		26,449
Global Water Resources, Inc.		4,109		51,075
MGE Energy, Inc.		9,930		771,263
Middlesex Water Co.		4,661		364,117
New Jersey Resources Corp.		26,392		1,404,054
Northwest Natural Holding Co.		9,197		437,409
NorthWestern Corp.		15,865		917,949
ONE Gas, Inc.		14,639		1,159,848
Ormat Technologies, Inc.		14,302		1,212,381
Otter Tail Corp.		11,200		809,424
PNM Resources, Inc.		23,313		1,134,877
Portland General Electric Co.		24,453		1,195,507
SJW Group		7,247		551,714
Southwest Gas Holdings, Inc. *		18,229		1,138,401
Spire, Inc.		13,911		975,718
Unitil Corp.		4,486		255,881
Via Renewables, Inc. *		781		14,355
York Water Co.		3,936		175,939
				20,819,618
Total Common Stocks (Cost $587,060,049)				629,408,228
	Principal Amount
SHORT-TERM INVESTMENT - 0.8%
Repurchase Agreement - 0.8%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $5,209,499; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $5,311,748)		$5,207,568		5,207,568
Total Short-Term Investment (Cost $5,207,568)				5,207,568
TOTAL INVESTMENTS - 99.7% (Cost $592,268,060)				634,625,843
DERIVATIVES - 0.1%				173,156
OTHER ASSETS & LIABILITIES, NET - 0.2%				1,543,618
NET ASSETS - 100.0%				$636,342,617

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

140

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $10,025 or less than 0.1% of the Fund’s net assets were valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or the Board of Trustees.

(b) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month	Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Russell 2000 E-Mini Index	06/23		72		$6,355,444		$6,528,600		$173,156

(c) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Rights
	Basic Materials		$22		$22		$-		$-
	Consumer, Non-Cyclical		10,025		-		-		10,025
	Total Rights		10,047		22		-		10,025
	Common Stocks
	Basic Materials		23,507,318		23,507,318		-		-
	Communications		25,599,652		25,599,652		-		-
	Consumer, Cyclical		77,675,527		77,675,527		-		-
	Consumer, Non-Cyclical		147,999,580		147,848,618		150,962		-
	Energy		40,599,677		40,599,677		-		-
	Financial		133,702,805		133,702,805		-		-
	Industrial		93,225,447		93,225,447		-		-
	Technology		66,278,604		66,278,604		-		-
	Utilities		20,819,618		20,819,618		-		-
	Total Common Stocks		629,408,228		629,257,266		150,962		-
	Short-Term Investment		5,207,568		-		5,207,568		-
	Derivatives:
	Equity Contracts
	Futures		173,156		173,156		-		-
	Total		$634,798,999		$629,430,444		$5,358,530		$10,025

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

141

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Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 98.6%
Basic Materials - 4.2%
AdvanSix, Inc.		97,980		$3,749,695
ATI, Inc. *		95,799		3,780,228
Haynes International, Inc.		74,304		3,721,887
HB Fuller Co.		47,062		3,221,394
Innospec, Inc.		2,452		251,747
				14,724,951
Communications - 2.7%
A10 Networks, Inc.		251,872		3,901,497
Casa Systems, Inc. *		562,061		713,818
Criteo SA ADR * (France)		152,943		4,818,469
				9,433,784
Consumer, Cyclical - 20.1%
Alaska Air Group, Inc. *		88,270		3,703,809
Blue Bird Corp. *		198,926		4,064,058
Citi Trends, Inc. *		111,879		2,127,939
Dana, Inc.		222,618		3,350,401
Dine Brands Global, Inc.		57,115		3,863,259
Genesco, Inc. *		82,040		3,025,635
Goodyear Tire & Rubber Co. *		355,884		3,921,842
H&E Equipment Services, Inc.		67,232		2,973,671
Hilton Grand Vacations, Inc. *		104,826		4,657,419
IMAX Corp. *		197,410		3,786,324
KB Home		146,191		5,873,954
Papa John’s International, Inc.		45,791		3,431,120
REV Group, Inc.		378,693		4,540,529
Sally Beauty Holdings, Inc. *		378,830		5,902,171
Shyft Group, Inc.		199,073		4,528,911
Six Flags Entertainment Corp. *		165,570		4,422,375
Taylor Morrison Home Corp. *		165,781		6,342,781
				70,516,198
Consumer, Non-Cyclical - 12.7%
Acadia Healthcare Co., Inc. *		52,069		3,761,985
Adtalem Global Education, Inc. *		117,926		4,554,302
Envista Holdings Corp. *		106,470		4,352,494
Hain Celestial Group, Inc. *		292,635		5,018,690
Herc Holdings, Inc.		41,320		4,706,348
Integra LifeSciences Holdings Corp. *		99,605		5,718,323
Korn Ferry		91,110		4,714,031
Nomad Foods Ltd. * (United Kingdom)		290,635		5,446,500
Pediatrix Medical Group, Inc. *		287,005		4,279,245
Syneos Health, Inc. *		59,130		2,106,211
				44,658,129
Energy - 3.6%
ChampionX Corp.		113,180		3,070,573
Helmerich & Payne, Inc.		5,789		206,957
HF Sinclair Corp.		72,450		3,505,131
Magnolia Oil & Gas Corp. Class A		267,213		5,846,621
				12,629,282
Financial - 29.1%
1st Source Corp.		78,710		3,396,337
Associated Banc-Corp.		250,916		4,511,470
Bank of Marin Bancorp		79,718		1,745,027
BankUnited, Inc.		121,745		2,749,002
Berkshire Hills Bancorp, Inc.		180,790		4,530,598
Broadstone Net Lease, Inc. REIT		239,304		4,070,561
Carter Bankshares, Inc. *		168,008		2,352,112
First BanCorp		426,508		4,870,721

	Shares		Value
First Busey Corp.		112,470		$ 2,287,640
Hanover Insurance Group, Inc.		31,857		4,093,625
HarborOne Bancorp, Inc.		303,187		3,698,881
Heritage Financial Corp.		196,776		4,211,007
Independence Realty Trust, Inc. REIT		183,512		2,941,697
Independent Bank Group, Inc.		57,524		2,666,237
Moelis & Co. Class A		101,480		3,900,891
National Storage Affiliates Trust REIT		75,213		3,142,399
NETSTREIT Corp. REIT		202,890		3,708,829
Nicolet Bankshares, Inc. *		17,200		1,084,460
Pacific Premier Bancorp, Inc.		152,122		3,653,971
Peoples Bancorp, Inc.		75,783		1,951,412
Physicians Realty Trust REIT		268,980		4,015,871
Premier Financial Corp.		171,871		3,562,886
Sandy Spring Bancorp, Inc.		89,548		2,326,457
Selective Insurance Group, Inc.		63,201		6,024,951
STAG Industrial, Inc. REIT		171,505		5,800,299
Synovus Financial Corp.		66,233		2,041,963
Texas Capital Bancshares, Inc. *		90,807		4,445,911
TriCo Bancshares		102,429		4,260,022
WSFS Financial Corp.		105,077		3,951,946
				101,997,183
Industrial - 18.3%
ArcBest Corp.		61,980		5,728,192
Arcosa, Inc.		83,451		5,266,593
Belden, Inc.		42,221		3,663,516
Cactus, Inc. Class A		53,427		2,202,795
Dycom Industries, Inc. *		64,093		6,002,309
Fluor Corp. *		148,309		4,584,231
Great Lakes Dredge & Dock Corp. *		443,919		2,410,480
Heritage-Crystal Clean, Inc. *		120,719		4,298,804
Hillman Solutions Corp. *		413,937		3,485,350
Ichor Holdings Ltd. *		164,360		5,381,146
Masonite International Corp. *		49,409		4,484,855
O-I Glass, Inc. *		167,248		3,798,202
Spirit AeroSystems Holdings, Inc. Class A		128,080		4,422,602
Star Bulk Carriers Corp. (Greece)		219,960		4,645,555
TTM Technologies, Inc. *		298,303		4,024,108
				64,398,738
Technology - 5.5%
ACI Worldwide, Inc. *		147,630		3,983,057
CommVault Systems, Inc. *		47,178		2,676,880
FormFactor, Inc. *		98,659		3,142,289
Kulicke & Soffa Industries, Inc. (Singapore)		91,104		4,800,270
Magnachip Semiconductor Corp. * (South Korea)		361,552		3,355,202
Unisys Corp. *		391,192		1,517,825
				19,475,523
Utilities - 2.4%
IDACORP, Inc.		52,480		5,685,158
Southwest Gas Holdings, Inc. *		43,020		2,686,599
				8,371,757
Total Common Stocks (Cost $397,971,127)				346,205,545

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

142

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SMALL-CAP VALUE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 1.4%
Repurchase Agreement - 1.4%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $4,923,487; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $5,020,160)		$4,921,662		$4,921,662
Total Short-Term Investment (Cost $4,921,662)				4,921,662
TOTAL INVESTMENTS - 100.0% (Cost $402,892,789)				351,127,207
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(96,622	)
NET ASSETS - 100.0%				$351,030,585

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$346,205,545		$346,205,545		$-		$-
	Short-Term Investment		4,921,662		-		4,921,662		-
	Total		$351,127,207		$346,205,545		$4,921,662		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

143

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VALUE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
PREFERRED STOCKS - 1.0%
Consumer, Non-Cyclical - 1.0%
Henkel AG & Co. KGaA		130,507		$10,210,075
Total Preferred Stocks (Cost $9,805,072)				10,210,075
COMMON STOCKS - 95.5%
Basic Materials - 1.0%
Akzo Nobel NV (Netherlands)		126,256		9,875,063
Communications - 8.2%
Alphabet, Inc. Class A *		66,655		6,914,123
Cisco Systems, Inc.		357,310		18,678,380
F5, Inc. *		88,970		12,962,039
Juniper Networks, Inc.		200,620		6,905,341
Verizon Communications, Inc.		592,009		23,023,230
Walt Disney Co. *		134,963		13,513,845
				81,996,958
Consumer, Cyclical - 5.6%
Advance Auto Parts, Inc.		43,683		5,312,290
Dollar Tree, Inc. *		112,429		16,139,183
General Motors Co.		168,319		6,173,941
Sodexo SA (France)		70,573		6,892,904
Southwest Airlines Co.		300,062		9,764,017
Walmart, Inc.		80,243		11,831,830
				56,114,165
Consumer, Non-Cyclical - 35.0%
Automatic Data Processing, Inc.		46,988		10,460,938
Becton Dickinson & Co.		43,465		10,759,326
Cigna Group		25,102		6,414,314
Colgate-Palmolive Co.		249,570		18,755,186
Conagra Brands, Inc.		456,085		17,130,553
CVS Health Corp.		98,665		7,331,796
Henry Schein, Inc. *		182,468		14,878,441
Johnson & Johnson		305,755		47,392,025
Kimberly-Clark Corp.		156,911		21,060,594
Koninklijke Ahold Delhaize NV (Netherlands)		371,083		12,678,091
Medtronic PLC		482,474		38,897,054
Merck & Co., Inc.		71,575		7,614,864
Mondelez International, Inc. Class A		228,462		15,928,371
PepsiCo, Inc.		38,826		7,077,980
Pfizer, Inc.		217,951		8,892,401
Procter & Gamble Co.		69,189		10,287,712
Quest Diagnostics, Inc.		110,840		15,681,643
Roche Holding AG		34,420		9,835,255
Unilever PLC ADR (United Kingdom)		365,011		18,955,021
Universal Health Services, Inc. Class B		106,941		13,592,201
Zimmer Biomet Holdings, Inc.		265,895		34,353,634
				347,977,400
Energy - 7.8%
Baker Hughes Co.		365,860		10,558,719
Chevron Corp.		64,185		10,472,425
ConocoPhillips		92,304		9,157,480
Exxon Mobil Corp.		270,400		29,652,064
TotalEnergies SE ADR (France)		303,259		17,907,444
				77,748,132
Financial - 18.9%
Allstate Corp.		170,146		18,853,878

	Shares		Value
Ameriprise Financial, Inc.		30,714		$ 9,413,841
Bank of New York Mellon Corp.		430,035		19,540,791
Berkshire Hathaway, Inc. Class B *		123,904		38,257,838
BlackRock, Inc.		17,382		11,630,644
Charles Schwab Corp.		141,355		7,404,175
Chubb Ltd.		35,480		6,889,506
Healthpeak Properties, Inc. REIT		177,963		3,909,847
JPMorgan Chase & Co.		204,014		26,585,064
MetLife, Inc.		92,820		5,377,991
Northern Trust Corp.		91,321		8,048,120
Truist Financial Corp.		469,383		16,005,960
US Bancorp		459,430		16,562,452
				188,480,107
Industrial - 11.5%
Emerson Electric Co.		115,272		10,044,802
Norfolk Southern Corp.		41,143		8,722,316
nVent Electric PLC		261,155		11,213,996
Oshkosh Corp.		157,333		13,086,959
Packaging Corp. of America		101,586		14,103,184
Raytheon Technologies Corp.		290,285		28,427,610
Siemens AG (Germany)		47,347		7,670,399
Sonoco Products Co.		174,040		10,616,440
TE Connectivity Ltd.		78,414		10,283,996
				114,169,702
Technology - 1.3%
Applied Materials, Inc.		32,277		3,964,584
Texas Instruments, Inc.		49,122		9,137,183
				13,101,767
Utilities - 6.2%
Duke Energy Corp.		164,845		15,902,597
Edison International		152,165		10,741,327
Eversource Energy		103,327		8,086,371
Pinnacle West Capital Corp.		130,135		10,311,898
Xcel Energy, Inc.		246,096		16,596,714
				61,638,907
Total Common Stocks (Cost $949,119,614)				951,102,201
EXCHANGE-TRADED FUND - 1.5%
iShares Russell 1000 Value		98,001		14,921,632
Total Exchange-Traded Fund (Cost $15,041,301)				14,921,632

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

144

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VALUE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 1.9%
Repurchase Agreement - 1.9%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $18,702,145; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $19,069,199)		$18,695,213		$18,695,213
			Value
Total Short-Term Investment (Cost $18,695,213)				18,695,213
TOTAL INVESTMENTS - 99.9% (Cost $992,661,200)				994,929,121
DERIVATIVES - (0.1%)				(581,669	)
OTHER ASSETS & LIABILITIES, NET - 0.2%				1,682,283
NET ASSETS - 100.0%				$996,029,735

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

145

PACIFIC SELECT FUND

VALUE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) Forward foreign currency contracts outstanding as of March 31, 2023 were as follows:

Currency Purchased		Currency Sold		Settlement Month		Counterparty		Unrealized Appreciation		Unrealized Depreciation
USD	7,916,384	CHF	7,181,370		06/23		MSC		$-		($6,064	)
USD	490,479	CHF	444,467		06/23		MSC		145		-
USD	55,005,561	EUR	50,916,932		06/23		JPM		-		(483,981	)
USD	16,137,247	GBP	13,133,701		06/23		BOA		-		(91,769	)
Total Forward Foreign Currency Contracts									$145		($581,814	)

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023			Level 1 Quoted Price		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Assets	Preferred Stocks		$10,210,075			$-		$10,210,075			$-
	Common Stocks
	Basic Materials		9,875,063			-		9,875,063			-
	Communications		81,996,958			81,996,958		-			-
	Consumer, Cyclical		56,114,165			49,221,261		6,892,904			-
	Consumer, Non-Cyclical		347,977,400			325,464,054		22,513,346			-
	Energy		77,748,132			77,748,132		-			-
	Financial		188,480,107			188,480,107		-			-
	Industrial		114,169,702			106,499,303		7,670,399			-
	Technology		13,101,767			13,101,767		-			-
	Utilities		61,638,907			61,638,907		-			-
	Total Common Stocks		951,102,201			904,150,489		46,951,712			-
	Exchange-Traded Fund		14,921,632			14,921,632		-			-
	Short-Term Investment		18,695,213			-		18,695,213			-
	Derivatives:
	Foreign Currency Contracts
	Forward Foreign Currency Contracts		145			-		145			-
	Total Assets		994,929,266			919,072,121		75,857,145			-
Liabilities	Derivatives:
	Foreign Currency Contracts
	Forward Foreign Currency Contracts		(581,814	)		-		(581,814	)		-
	Total Liabilities		(581,814	)		-		(581,814	)		-
	Total		$994,347,452			$919,072,121		$75,275,331			$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

146

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VALUE ADVANTAGE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 97.9%
Basic Materials - 0.5%
Axalta Coating Systems Ltd. *		135,858		$4,115,139
Communications - 7.3%
Alphabet, Inc. Class C *		46,189		4,803,656
Booking Holdings, Inc. *		2,624		6,959,924
Cisco Systems, Inc.		82,408		4,307,878
CommScope Holding Co., Inc. *		166,487		1,060,522
IAC, Inc. *		90,692		4,679,707
Liberty Broadband Corp. Class C *		68,415		5,589,506
Liberty Media Corp. - Liberty SiriusXM Class C *		169,869		4,754,633
Meta Platforms, Inc. Class A *		49,248		10,437,621
Nexstar Media Group, Inc.		14,794		2,554,332
T-Mobile US, Inc. *		24,128		3,494,700
Verizon Communications, Inc.		248,342		9,658,020
				58,300,499
Consumer, Cyclical - 7.2%
AutoZone, Inc. *		3,950		9,709,692
Bath & Body Works, Inc.		106,608		3,899,721
Best Buy Co., Inc.		42,073		3,293,054
Columbia Sportswear Co.		22,244		2,007,298
Dick’s Sporting Goods, Inc.		34,278		4,863,705
Dollar General Corp.		13,073		2,751,344
Home Depot, Inc.		15,584		4,599,150
Lowe’s Cos., Inc.		33,662		6,731,390
Murphy USA, Inc.		13,972		3,605,475
Newell Brands, Inc.		313,225		3,896,519
Ralph Lauren Corp.		46,452		5,419,555
Target Corp.		21,036		3,484,193
Texas Roadhouse, Inc.		31,424		3,395,677
				57,656,773
Consumer, Non-Cyclical - 20.5%
AbbVie, Inc.		108,755		17,332,284
Albertsons Cos., Inc. Class A		195,166		4,055,550
AmerisourceBergen Corp.		69,091		11,062,160
BellRing Brands, Inc. *		90,309		3,070,506
Bristol-Myers Squibb Co.		238,042		16,498,691
Cigna Group		16,563		4,232,343
CVS Health Corp.		81,518		6,057,603
Elanco Animal Health, Inc. *		217,716		2,046,530
FleetCor Technologies, Inc. *		28,118		5,928,680
HCA Healthcare, Inc.		29,546		7,790,689
Johnson & Johnson		76,348		11,833,940
Keurig Dr Pepper, Inc.		134,169		4,733,482
Kraft Heinz Co.		194,267		7,512,305
Laboratory Corp. of America Holdings		27,101		6,217,512
Medtronic PLC		46,241		3,727,949
Merck & Co., Inc.		51,771		5,507,917
Philip Morris International, Inc.		66,205		6,438,436
Post Holdings, Inc. *		71,104		6,390,117
Procter & Gamble Co.		60,808		9,041,542
Regeneron Pharmaceuticals, Inc. *		8,672		7,125,522
Sysco Corp.		45,551		3,517,904
UnitedHealth Group, Inc.		11,058		5,225,900
Vertex Pharmaceuticals, Inc. *		15,730		4,956,051
Zimmer Biomet Holdings, Inc.		32,179		4,157,527
				164,461,140
Energy - 7.8%
Chevron Corp.		113,624		18,538,892
ConocoPhillips		134,964		13,389,778
Coterra Energy, Inc.		138,145		3,390,078

	Shares		Value
EOG Resources, Inc.		44,928		$ 5,150,097
Kinder Morgan, Inc.		458,926		8,035,794
Phillips 66		68,983		6,993,497
Williams Cos., Inc.		235,407		7,029,253
				62,527,389
Financial - 33.3%
American Express Co.		36,246		5,978,778
American Homes 4 Rent Class A REIT		187,414		5,894,170
Apple Hospitality REIT, Inc.		206,226		3,200,628
Bank of America Corp.		644,329		18,427,809
Berkshire Hathaway, Inc. Class B *		67,159		20,736,684
Brixmor Property Group, Inc. REIT		253,748		5,460,657
Capital One Financial Corp.		160,658		15,448,873
CBRE Group, Inc. Class A *		85,819		6,248,481
Charles Schwab Corp.		103,517		5,422,221
Chubb Ltd.		33,828		6,568,721
Citigroup, Inc.		87,400		4,098,186
Citizens Financial Group, Inc.		242,789		7,373,502
CNA Financial Corp.		64,417		2,514,196
Cullen/Frost Bankers, Inc.		12,630		1,330,444
EastGroup Properties, Inc. REIT		14,078		2,327,375
Fairfax Financial Holdings Ltd. (Canada)		9,288		6,177,643
Federal Realty Investment Trust REIT		48,285		4,772,007
First Citizens BancShares, Inc. Class A		3,881		3,776,601
Hartford Financial Services Group, Inc.		63,277		4,409,774
JBG SMITH Properties REIT		132,399		1,993,929
Kimco Realty Corp. REIT		394,989		7,714,135
Lamar Advertising Co. Class A REIT		48,946		4,889,216
Loews Corp.		231,506		13,431,978
M&T Bank Corp.		110,301		13,188,691
MGIC Investment Corp.		246,963		3,314,244
Mid-America Apartment Communities, Inc. REIT		43,050		6,502,272
Morgan Stanley		51,545		4,525,651
Northern Trust Corp.		54,817		4,831,022
PNC Financial Services Group, Inc.		79,647		10,123,134
Progressive Corp.		57,939		8,288,753
Public Storage REIT		22,785		6,884,260
Rayonier, Inc. REIT		164,882		5,483,975
T Rowe Price Group, Inc.		34,347		3,877,776
Travelers Cos., Inc.		46,784		8,019,245
Truist Financial Corp.		98,764		3,367,852
US Bancorp		126,912		4,575,178
Wells Fargo & Co.		388,176		14,510,019
Welltower, Inc. REIT		38,271		2,743,648
Weyerhaeuser Co. REIT		302,268		9,107,335
				267,539,063
Industrial - 13.8%
Carlisle Cos., Inc.		19,936		4,506,932
Dover Corp.		61,372		9,324,862
Eaton Corp. PLC		31,755		5,440,902
Energizer Holdings, Inc.		107,861		3,742,777
FedEx Corp.		30,186		6,897,199
Fortune Brands Innovations, Inc.		83,684		4,914,761
General Dynamics Corp.		28,183		6,431,642
Honeywell International, Inc.		31,021		5,928,734
ITT, Inc.		30,380		2,621,794
Martin Marietta Materials, Inc.		24,848		8,822,531
Middleby Corp. *		27,077		3,969,759
Mohawk Industries, Inc. *		49,874		4,998,372
Norfolk Southern Corp.		9,388		1,990,256
Northrop Grumman Corp.		9,134		4,217,351
Packaging Corp. of America		57,136		7,932,191
Raytheon Technologies Corp.		94,597		9,263,884
TD SYNNEX Corp.		43,556		4,215,785
Timken Co.		46,834		3,827,274
Union Pacific Corp.		30,561		6,150,707
Vulcan Materials Co.		14,583		2,501,859
Westrock Co.		104,079		3,171,287
				110,870,859

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

147

PACIFIC SELECT FUND

VALUE ADVANTAGE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Technology - 3.4%
Analog Devices, Inc.		21,418		$4,224,058
International Business Machines Corp.		33,724		4,420,879
Leidos Holdings, Inc.		42,795		3,939,708
NXP Semiconductors NV (China)		32,773		6,111,345
Texas Instruments, Inc.		47,703		8,873,235
				27,569,225
Utilities - 4.1%
American Electric Power Co., Inc.		39,106		3,558,255
Edison International		64,535		4,555,526
Entergy Corp.		34,527		3,719,939
NextEra Energy, Inc.		68,483		5,278,670
PG&E Corp. *		348,369		5,633,127
Public Service Enterprise Group, Inc.		61,360		3,831,932
Xcel Energy, Inc.		95,658		6,451,175
				33,028,624
Total Common Stocks (Cost $646,648,641)				786,068,711
	Principal Amount
SHORT-TERM INVESTMENT - 2.3%
Repurchase Agreement - 2.3%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $18,176,717; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $18,533,403)		$18,169,979		18,169,979
Total Short-Term Investment (Cost $18,169,979)				18,169,979
TOTAL INVESTMENTS - 100.2% (Cost $664,818,620)				804,238,690
OTHER ASSETS & LIABILITIES, NET - (0.2%)				(1,595,754	)
NET ASSETS - 100.0%				$802,642,936

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$786,068,711		$786,068,711		$-		$-
	Short-Term Investment		18,169,979		-		18,169,979		-
	Total		$804,238,690		$786,068,711		$18,169,979		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

148

PACIFIC SELECT FUND

EMERGING MARKETS PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
WARRANTS - 0.1%
Switzerland - 0.1%
Cie Financiere Richemont SA Exercise @ CHF 67.00 Exp 11/22/23 *		535,142		$672,619
Total Warrants (Cost $0)				672,619
PREFERRED STOCKS - 0.4%
Brazil - 0.4%
Banco Bradesco SA		1,176,572		3,057,237
Total Preferred Stocks (Cost $4,484,217)				3,057,237
COMMON STOCKS - 95.6%
Australia - 0.8%
Glencore PLC *		1,076,371		6,193,670
Brazil - 4.8%
Ambev SA		5,557,221		15,711,899
B3 SA - Brasil Bolsa Balcao		1,475,000		3,012,016
Lojas Renner SA		464,584		1,518,838
NU Holdings Ltd. Class A *		1,673,209		7,964,475
Vale SA ADR		467,852		7,382,705
WEG SA		449,975		3,600,013
				39,189,946
Chile - 0.6%
Antofagasta PLC		49,765		974,770
Banco Santander Chile		91,135,141		4,041,457
				5,016,227
China - 27.7%
BeiGene Ltd. ADR *		37,573		8,098,109
Brii Biosciences Ltd. *		41,500		22,867
H World Group Ltd. *		65,200		319,151
H World Group Ltd. ADR *		814,364		39,887,549
Meituan Class B * ~		369,072		6,695,783
MicroTech Medical Hangzhou Co. Ltd. Class H * ~		252,100		239,689
NetEase, Inc. ADR		304,571		26,936,259
New Horizon Health Ltd. * ~		431,000		1,493,591
Silergy Corp.		202,000		3,207,069
Tencent Holdings Ltd.		581,925		28,438,264
Wuxi Biologics Cayman, Inc. * ~		1,137,000		7,006,146
Yum China Holdings, Inc.		946,082		59,972,138
Zai Lab Ltd. ADR *		138,330		4,600,856
ZTO Express Cayman, Inc.		82,977		2,375,860
ZTO Express Cayman, Inc. ADR		1,234,424		35,378,592
				224,671,923
France - 6.3%
L’Oreal SA		3,789		1,693,087
Pernod Ricard SA		182,816		41,395,185
TotalEnergies SE		134,029		7,902,842
				50,991,114
Hong Kong - 1.5%
AIA Group Ltd.		917,018		9,617,093
Hongkong Land Holdings Ltd.		559,900		2,463,260
				12,080,353

	Shares		Value
India - 18.5%
Havells India Ltd.		206,749		$2,997,728
Housing Development Finance Corp. Ltd.		1,773,515		56,873,162
Infosys Ltd.		194,719		3,404,298
Kotak Mahindra Bank Ltd.		1,867,402		39,471,012
Oberoi Realty Ltd.		554,004		5,697,542
Tata Consultancy Services Ltd.		977,233		38,305,404
Zee Entertainment Enterprises Ltd.		1,303,408		3,371,840
				150,120,986
Indonesia - 0.7%
P.T. Bank Central Asia Tbk		10,342,900		6,051,053
Italy - 2.3%
Ermenegildo Zegna NV		168,679		2,300,781
PRADA SpA		2,256,600		16,001,693
				18,302,474
Japan - 0.5%
Daiichi Sankyo Co. Ltd.		121,000		4,413,794
Mexico - 10.6%
America Movil SAB de CV ADR *		716,509		15,082,514
Fomento Economico Mexicano SAB de CV		1,213,309		11,567,508
Grupo Mexico SAB de CV		8,768,199		41,520,001
Wal-Mart de Mexico SAB de CV		4,523,886		18,082,992
				86,253,015
Peru - 0.9%
Credicorp Ltd.		53,642		7,101,664
Philippines - 1.3%
SM Investments Corp.		645,339		10,592,773
Russia - 0.0%
Novatek PJSC GDR (LI) * ~ W ±		258,603		–
Polyus PJSC GDR * ~ W ±		41,905		–
Sberbank of Russia PJSC * W ±		156,504		–
TCS Group Holding PLC GDR * ~ W ±		86,992		–
Yandex NV Class A * W ±		722,151		1
				1
South Africa - 0.6%
FirstRand Ltd.		1,357,611		4,601,485
South Korea - 7.1%
LG Chem Ltd.		48,202		26,472,227
LG H&H Co. Ltd.		4,911		2,268,874
Samsung Biologics Co. Ltd. * ~		23,363		14,161,812
Samsung Electronics Co. Ltd.		298,802		14,776,045
				57,678,958
Switzerland - 3.5%
Cie Financiere Richemont SA Class A		176,932		28,372,117
Taiwan - 7.6%
MediaTek, Inc. *		166,000		4,303,735
Taiwan Semiconductor Manufacturing Co. Ltd.		3,247,376		56,908,985
				61,212,720
United Kingdom - 0.3%
AstraZeneca PLC ADR		34,449		2,391,105
Total Common Stocks (Cost $760,908,345)				775,235,378

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

149

PACIFIC SELECT FUND

EMERGING MARKETS PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 3.6%
Repurchase Agreement - 3.6%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $28,978,487; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $29,547,144)		$28,967,745		$28,967,745
Total Short-Term Investment (Cost $28,967,745)				28,967,745
TOTAL INVESTMENTS - 99.7% (Cost $794,360,307)				807,932,979
OTHER ASSETS & LIABILITIES, NET - 0.3%				2,818,477
NET ASSETS - 100.0%				$810,751,456

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

150

PACIFIC SELECT FUND

EMERGING MARKETS PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $1 or less than 0.1% of the Fund’s net assets were valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or the Board of Trustees.

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Warrants		$672,619		$672,619		$-		$-
	Preferred Stocks		3,057,237		3,057,237		-		-
	Common Stocks
	Australia		6,193,670		-		6,193,670		-
	Brazil		39,189,946		39,189,946		-		-
	Chile		5,016,227		4,041,457		974,770		-
	China		224,671,923		174,873,503		49,798,420		-
	France		50,991,114		-		50,991,114		-
	Hong Kong		12,080,353		-		12,080,353		-
	India		150,120,986		-		150,120,986		-
	Indonesia		6,051,053		-		6,051,053		-
	Italy		18,302,474		2,300,781		16,001,693		-
	Japan		4,413,794		-		4,413,794		-
	Mexico		86,253,015		86,253,015		-		-
	Peru		7,101,664		7,101,664		-		-
	Philippines		10,592,773		-		10,592,773		-
	Russia		1		-		-		1
	South Africa		4,601,485		-		4,601,485		-
	South Korea		57,678,958		-		57,678,958		-
	Switzerland		28,372,117		-		28,372,117		-
	Taiwan		61,212,720		-		61,212,720		-
	United Kingdom		2,391,105		2,391,105		-		-
	Total Common Stocks		775,235,378		316,151,471		459,083,906		1
	Short-Term Investment		28,967,745		-		28,967,745		-
	Total		$807,932,979		$319,881,327		$488,051,651		$1

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

151

PACIFIC SELECT FUND

INTERNATIONAL GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 99.3%
Australia - 1.1%
Brambles Ltd.		781,908		$7,049,875
Canada - 8.1%
CAE, Inc. *		251,597		5,689,089
Canadian Pacific Railway Ltd.		209,767		16,152,757
Loblaw Cos. Ltd.		89,654		8,170,687
Shopify, Inc. Class A *		32,759		1,570,467
Suncor Energy, Inc.		303,604		9,425,989
Thomson Reuters Corp.		80,781		10,510,197
				51,519,186
China - 2.0%
Tencent Holdings Ltd.		195,938		9,575,352
Zai Lab Ltd. *		399,800		1,332,366
Zai Lab Ltd. ADR *		58,155		1,934,235
				12,841,953
Denmark - 4.4%
Novo Nordisk AS Class B		176,234		27,989,705
France - 12.9%
Airbus SE		71,642		9,569,040
BNP Paribas SA		99,763		5,957,600
EssilorLuxottica SA		36,179		6,523,897
Kering SA		9,900		6,459,033
L’Oreal SA		25,882		11,565,181
LVMH Moet Hennessy Louis Vuitton SE		25,279		23,203,804
Safran SA		65,482		9,693,732
Teleperformance		39,616		9,572,577
				82,544,864
Germany - 6.4%
Deutsche Boerse AG		52,150		10,154,128
Deutsche Telekom AG		744,746		18,046,904
SAP SE		100,915		12,742,584
				40,943,616
Hong Kong - 4.0%
AIA Group Ltd.		1,343,521		14,089,982
Hong Kong Exchanges & Clearing Ltd.		258,553		11,460,283
				25,550,265
Ireland - 1.0%
CRH PLC		127,454		6,439,011
Israel - 1.1%
Nice Ltd. ADR *		31,956		7,314,409
Italy - 1.0%
Intesa Sanpaolo SpA		2,602,274		6,678,582
Japan - 13.0%
Daiichi Sankyo Co. Ltd.		371,015		13,533,750
Hoya Corp.		57,870		6,395,343
Keyence Corp.		34,245		16,783,760
Olympus Corp.		712,121		12,506,802
Recruit Holdings Co. Ltd.		269,964		7,426,447
Shiseido Co. Ltd.		206,724		9,691,891
Sony Group Corp.		181,422		16,524,530
				82,862,523

	Shares		Value
Netherlands - 4.1%
Adyen NV * ~		5,069		$8,077,086
Argenx SE *		13,959		5,183,750
ASML Holding NV		19,085		13,005,434
				26,266,270
Portugal - 2.4%
EDP - Energias de Portugal SA		2,873,323		15,656,489
Spain - 6.0%
Amadeus IT Group SA *		163,726		10,983,315
Cellnex Telecom SA ~		134,671		5,237,036
Iberdrola SA		673,957		8,396,020
Industria de Diseno Textil SA		410,076		13,776,582
				38,392,953
Sweden - 2.6%
Atlas Copco AB Class A		511,777		6,483,368
Sandvik AB		487,436		10,346,213
				16,829,581
Switzerland - 3.8%
Alcon, Inc.		160,040		11,360,837
Givaudan SA		1,970		6,411,931
Straumann Holding AG		44,468		6,669,513
				24,442,281
United Kingdom - 11.5%
3i Group PLC		303,072		6,317,074
Compass Group PLC		340,156		8,548,644
Diageo PLC		357,924		15,974,014
London Stock Exchange Group PLC		202,248		19,644,281
RELX PLC		308,970		10,006,579
Rentokil Initial PLC		1,762,558		12,881,726
				73,372,318
United States - 13.9%
Accenture PLC Class A		33,061		9,449,164
Computershare Ltd.		286,269		4,158,113
Haleon PLC		2,414,277		9,590,550
ICON PLC *		20,554		4,390,129
Linde PLC		36,807		13,082,680
Nestle SA		234,217		28,558,197
Roche Holding AG		30,704		8,773,437
SolarEdge Technologies, Inc. *		18,769		5,704,838
TE Connectivity Ltd.		35,830		4,699,105
				88,406,213
Total Common Stocks (Cost $652,979,177)				635,100,094
TOTAL INVESTMENTS - 99.3% (Cost $652,979,177)				635,100,094
OTHER ASSETS & LIABILITIES, NET - 0.7%				4,417,564
NET ASSETS - 100.0%				$639,517,658

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

152

PACIFIC SELECT FUND

INTERNATIONAL GROWTH PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023			Level 1 Quoted Price		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Australia		$7,049,875			$-		$7,049,875			$-
	Canada		51,519,186			51,519,186		-			-
	China		12,841,953			1,934,235		10,907,718			-
	Denmark		27,989,705			-		27,989,705			-
	France		82,544,864			-		82,544,864			-
	Germany		40,943,616			-		40,943,616			-
	Hong Kong		25,550,265			-		25,550,265			-
	Ireland		6,439,011			-		6,439,011			-
	Israel		7,314,409			7,314,409		-			-
	Italy		6,678,582			-		6,678,582			-
	Japan		82,862,523			-		82,862,523			-
	Netherlands		26,266,270			-		26,266,270			-
	Portugal		15,656,489			-		15,656,489			-
	Spain		38,392,953			-		38,392,953			-
	Sweden		16,829,581			-		16,829,581			-
	Switzerland		24,442,281			-		24,442,281			-
	United Kingdom		73,372,318			-		73,372,318			-
	United States		88,406,213			37,325,916		51,080,297			-
	Total Common Stocks		635,100,094			98,093,746		537,006,348			-
	Total Assets		635,100,094			98,093,746		537,006,348			-
Liabilities	Due to Custodian		(119,120	)		-		(119,120	)		-
	Total Liabilities		(119,120	)		-		(119,120	)		-
	Total		$634,980,974			$98,093,746		$536,887,228			$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

153

PACIFIC SELECT FUND

INTERNATIONAL LARGE-CAP PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 98.6%
Australia - 0.9%
Rio Tinto PLC		140,367		$9,527,816
Belgium - 0.7%
KBC Group NV		100,265		6,889,285
Canada - 3.7%
Canadian National Railway Co.		121,825		14,371,695
Intact Financial Corp.		50,990		7,297,437
Suncor Energy, Inc.		199,896		6,206,168
Toronto-Dominion Bank		188,389		11,283,825
				39,159,125
China - 2.6%
Meituan Class B * ~		24,092		437,082
NetEase, Inc.		422,300		7,454,806
Tencent Holdings Ltd.		219,023		10,703,500
Yum China Holdings, Inc.		133,564		8,466,622
				27,062,010
Denmark - 3.4%
Carlsberg AS Class B		61,857		9,598,158
Novo Nordisk AS Class B		167,711		26,636,072
				36,234,230
France - 16.2%
Air Liquide SA		177,864		29,772,403
Capgemini SE		115,564		21,475,879
Cie de Saint-Gobain		191,535		10,887,532
Cie Generale des Etablissements Michelin SCA		232,378		7,103,393
Dassault Systemes SE		143,040		5,900,547
Engie SA		909,152		14,387,047
EssilorLuxottica SA		90,213		16,267,458
L’Oreal SA		20,112		8,986,899
Legrand SA		101,166		9,243,772
LVMH Moet Hennessy Louis Vuitton SE		31,238		28,673,620
Pernod Ricard SA		83,433		18,891,807
				171,590,357
Germany - 9.9%
Bayer AG		265,896		16,985,863
Beiersdorf AG		151,457		19,702,635
Deutsche Boerse AG		111,728		21,754,563
Merck KGaA		98,348		18,335,489
MTU Aero Engines AG		27,751		6,944,403
SAP SE		168,737		21,306,499
				105,029,452
Hong Kong - 2.9%
AIA Group Ltd.		2,105,407		22,080,151
Prudential PLC		654,719		8,964,168
				31,044,319
India - 2.0%
HDFC Bank Ltd.		272,279		5,355,411
Housing Development Finance Corp. Ltd.		243,762		7,816,971
Tata Consultancy Services Ltd.		203,251		7,966,996
				21,139,378

	Shares		Value
Ireland - 1.1%
Ryanair Holdings PLC ADR  *		121,074		$11,416,067
Israel - 1.3%
Check Point Software Technologies Ltd. *		103,868		13,502,840
Italy - 2.3%
Eni SpA		781,423		10,898,009
Intesa Sanpaolo SpA		5,418,070		13,905,156
				24,803,165
Japan - 13.9%
Daikin Industries Ltd.		89,900		16,128,648
Denso Corp.		204,800		11,560,427
Hitachi Ltd.		394,400		21,676,494
Hoya Corp.		106,400		11,758,502
Koito Manufacturing Co. Ltd.		344,000		6,520,947
Kose Corp.		77,800		9,247,171
Kubota Corp.		306,000		4,639,366
Kyocera Corp.		215,100		11,220,892
Olympus Corp.		618,900		10,869,585
Shin-Etsu Chemical Co. Ltd.		193,500		6,281,208
SMC Corp.		21,700		11,503,524
Sony Group Corp.		173,500		15,802,967
Terumo Corp.		344,000		9,303,586
				146,513,317
Netherlands - 3.1%
Akzo Nobel NV		163,271		12,770,176
ING Groep NV		1,111,466		13,199,031
Randstad NV		114,267		6,783,425
				32,752,632
Portugal - 0.6%
Galp Energia SGPS SA		564,043		6,382,299
Singapore - 1.2%
DBS Group Holdings Ltd.		513,414		12,764,363
South Korea - 0.5%
Samsung Electronics Co. Ltd.		106,489		5,265,983
Spain - 1.0%
Amadeus IT Group SA *		160,128		10,741,949
Switzerland - 8.9%
Cie Financiere Richemont SA Class A		140,505		22,530,827
Julius Baer Group Ltd.		129,403		8,839,315
Novartis AG		169,059		15,522,747
Sika AG		29,399		8,246,285
Sonova Holding AG		24,627		7,264,683
UBS Group AG (XVTX)		766,553		16,220,866
Zurich Insurance Group AG		32,200		15,430,195
				94,054,918
Taiwan - 1.2%
Taiwan Semiconductor Manufacturing Co. Ltd. ADR		137,057		12,749,042
United Kingdom - 8.8%
Compass Group PLC		867,097		21,791,482
Diageo PLC		342,719		15,295,420
London Stock Exchange Group PLC		129,670		12,594,804

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

154

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INTERNATIONAL LARGE-CAP PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Reckitt Benckiser Group PLC		119,994		$9,128,840
RELX PLC		543,132		17,590,366
Rolls-Royce Holdings PLC *		3,917,372		7,215,256
Tesco PLC		2,862,215		9,383,570
				92,999,738
United States - 12.4%
Experian PLC		464,179		15,284,348
Linde PLC		42,791		15,040,455
Nestle SA		296,603		36,164,953
QIAGEN NV *		200,057		9,111,891
Roche Holding AG		89,382		25,540,233
Schneider Electric SE		177,553		29,673,327
				130,815,207
Total Common Stocks (Cost $844,926,849)				1,042,437,492
	Principal Amount
SHORT-TERM INVESTMENT - 0.4%
Repurchase Agreement - 0.4%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $4,753,590; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $4,846,923)		$4,751,828		4,751,828
Total Short-Term Investment (Cost $4,751,828)				4,751,828
TOTAL INVESTMENTS - 99.0% (Cost $849,678,677)				1,047,189,320
OTHER ASSETS & LIABILITIES, NET - 1.0%				10,739,119
NET ASSETS - 100.0%				$1,057,928,439

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

155

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INTERNATIONAL LARGE-CAP PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Australia		$9,527,816		$-		$9,527,816		$-
	Belgium		6,889,285		-		6,889,285		-
	Canada		39,159,125		39,159,125		-		-
	China		27,062,010		8,466,622		18,595,388		-
	Denmark		36,234,230		-		36,234,230		-
	France		171,590,357		-		171,590,357		-
	Germany		105,029,452		-		105,029,452		-
	Hong Kong		31,044,319		-		31,044,319		-
	India		21,139,378		-		21,139,378		-
	Ireland		11,416,067		11,416,067		-		-
	Israel		13,502,840		13,502,840		-		-
	Italy		24,803,165		-		24,803,165		-
	Japan		146,513,317		-		146,513,317		-
	Netherlands		32,752,632		-		32,752,632		-
	Portugal		6,382,299		-		6,382,299		-
	Singapore		12,764,363		-		12,764,363		-
	South Korea		5,265,983		-		5,265,983		-
	Spain		10,741,949		-		10,741,949		-
	Switzerland		94,054,918		-		94,054,918		-
	Taiwan		12,749,042		12,749,042		-		-
	United Kingdom		92,999,738		-		92,999,738		-
	United States		130,815,207		15,040,455		115,774,752		-
	Total Common Stocks		1,042,437,492		100,334,151		942,103,341		-
	Short-Term Investment		4,751,828		-		4,751,828		-
	Total		$1,047,189,320		$100,334,151		$946,855,169		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

156

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INTERNATIONAL SMALL-CAP PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 96.0%
Australia - 4.0%
EBOS Group Ltd.		53,660		$1,563,653
GUD Holdings Ltd.		288,233		1,904,137
Imdex Ltd.		1,441,433		2,175,001
Inghams Group Ltd.		1,352,914		2,833,335
Nanosonics Ltd. *		392,909		1,351,983
Servcorp Ltd.		200,736		425,357
SomnoMed Ltd. *		381,225		246,199
				10,499,665
Austria - 1.9%
Mayr Melnhof Karton AG		16,200		2,692,589
Strabag SE		20,400		872,784
Wienerberger AG		53,000		1,534,406
				5,099,779
Belgium - 1.5%
Econocom Group SA NV		424,100		1,361,968
Fagron		150,400		2,569,409
				3,931,377
Brazil - 1.3%
Atacadao SA		244,900		598,666
Hypera SA		238,242		1,772,085
LOG Commercial Properties e Participacoes SA		345,995		1,079,261
				3,450,012
Canada - 2.6%
CCL Industries, Inc. Class B		42,100		2,091,450
ECN Capital Corp.		190,900		395,501
North West Co., Inc.		54,800		1,532,292
Open Text Corp.		52,700		2,032,742
Parkland Corp.		32,700		783,929
				6,835,914
Cayman - 0.2%
Patria Investments Ltd. Class A		32,700		483,960
China - 3.8%
Best Pacific International Holdings Ltd.		2,831,726		407,629
Far East Horizon Ltd.		2,534,657		2,276,104
Precision Tsugami China Corp. Ltd.		1,088,972		1,104,246
Qingdao Port International Co. Ltd. Class H ~		3,365,372		1,756,400
Shenzhen YUTO Packaging Technology Co. Ltd. Class A		462,216		1,874,581
TravelSky Technology Ltd. Class H		1,159,128		2,159,869
Xingda International Holdings Ltd.		2,861,865		608,293
				10,187,122
Denmark - 0.6%
Spar Nord Bank AS		98,815		1,560,782
Finland - 1.5%
Huhtamaki OYJ		54,700		2,032,088
Nanoform Finland PLC *		105,200		181,402
Rovio Entertainment OYJ ~		224,800		1,904,162
				4,117,652
France - 3.8%
Altarea SCA REIT		12,100		1,488,855
Antin Infrastructure Partners SA		40,300		730,517

	Shares		Value
ARGAN SA REIT		16,000		$ 1,195,897
Elior Group SA * ~		366,400		1,288,767
Lectra		35,700		1,409,432
Maisons du Monde SA ~		120,400		1,299,347
Thermador Groupe		24,200		2,575,681
				9,988,496
Germany - 4.6%
DWS Group GmbH & Co. KGaA ~		32,700		1,006,669
JOST Werke AG ~		36,200		1,908,776
Norma Group SE		49,073		1,159,678
Rheinmetall AG		8,470		2,509,238
Stabilus SE		23,400		1,635,903
Takkt AG		106,000		1,673,051
Talanx AG *		48,500		2,248,052
				12,141,367
Greece - 0.9%
Mytilineos SA		87,000		2,480,221
Hong Kong - 1.7%
ASMPT Ltd.		230,756		2,288,634
Sino Land Co. Ltd.		1,212,776		1,640,062
WH Group Ltd. ~		1,143,000		681,395
				4,610,091
Hungary - 0.9%
Richter Gedeon Nyrt		114,686		2,394,550
Indonesia - 0.8%
P.T. Avia Avian Tbk		20,298,483		805,468
P.T. Selamat Sempurna Tbk		12,644,400		1,302,851
				2,108,319
Ireland - 2.1%
AerCap Holdings NV *		23,787		1,337,543
Dalata Hotel Group PLC *		324,400		1,470,900
Irish Residential Properties REIT PLC REIT * ◇		1,483,600		1,495,162
Mincon Group PLC		1,059,000		1,182,940
				5,486,545
Italy - 1.1%
Banca Generali SpA		39,800		1,267,045
Recordati Industria Chimica e Farmaceutica SpA		38,400		1,624,295
				2,891,340
Japan - 22.6%
Amano Corp.		88,400		1,670,189
ASKUL Corp.		127,600		1,661,226
Capcom Co. Ltd.		41,300		1,478,151
Daiichikosho Co. Ltd.		62,000		1,024,687
Daikyonishikawa Corp.		245,015		1,195,799
Daiwa Industries Ltd.		100,200		1,049,249
Dexerials Corp.		61,800		1,263,496
Dip Corp.		47,300		1,267,873
GMO internet group, Inc.		101,000		1,968,590
Inaba Denki Sangyo Co. Ltd.		73,000		1,595,729
Isuzu Motors Ltd.		132,700		1,585,896
JAFCO Group Co. Ltd.		81,500		1,167,363
Kamigumi Co. Ltd.		80,300		1,686,966
Lixil Corp.		88,900		1,467,370
Maruwa Co. Ltd.		12,900		1,798,677
Meitec Corp.		89,600		1,604,247
Minebea Mitsumi, Inc.		95,800		1,829,445
Mitani Corp.		92,400		939,062

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

157

PACIFIC SELECT FUND

INTERNATIONAL SMALL-CAP PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Nihon Parkerizing Co. Ltd.		211,000		$ 1,586,036
Nishimoto Co. Ltd.		47,219		1,326,125
NOF Corp.		35,300		1,649,577
NSD Co. Ltd.		107,100		1,931,873
PALTAC Corp.		56,000		2,127,821
Park24 Co. Ltd. *		68,900		1,007,869
Persol Holdings Co. Ltd.		63,800		1,284,608
Renesas Electronics Corp. *		252,500		3,656,403
Roland Corp.		62,200		1,878,174
S Foods, Inc.		106,500		2,293,071
San-Ai Obbli Co. Ltd.		204,100		2,118,657
Ship Healthcare Holdings, Inc.		133,500		2,459,412
Sugi Holdings Co. Ltd.		42,700		1,835,415
SUMCO Corp.		115,200		1,733,061
TechnoPro Holdings, Inc.		71,600		1,985,897
TIS, Inc.		63,400		1,676,652
TKC Corp.		32,000		888,728
Tsuruha Holdings, Inc.		33,300		2,227,231
				59,920,625
Mexico - 2.6%
Bolsa Mexicana de Valores SAB de CV		1,057,459		2,265,732
Gruma SAB de CV Class B		158,366		2,336,294
Grupo Comercial Chedraui SA de CV		403,000		2,314,678
				6,916,704
Netherlands - 1.4%
Acomo NV		89,500		2,149,940
Arcadis NV		37,400		1,531,308
				3,681,248
Norway - 1.1%
Europris ASA ~		305,000		2,117,991
SpareBank 1 SMN		61,200		722,990
				2,840,981
Peru - 0.6%
Intercorp Financial Services, Inc.		65,995		1,506,006
Philippines - 1.6%
Century Pacific Food, Inc.		5,231,555		2,487,551
Robinsons Land Corp.		6,718,549		1,820,072
				4,307,623
Singapore - 1.7%
Hour Glass Ltd.		782,782		1,283,761
HRnetgroup Ltd.		2,314,635		1,417,896
Mapletree Industrial Trust REIT		1,083,469		1,934,435
				4,636,092
South Korea - 1.9%
Hyundai Marine & Fire Insurance Co. Ltd.		45,124		1,171,556
Soulbrain Co. Ltd.		12,800		2,331,316
Vitzrocell Co. Ltd.		117,300		1,614,174
				5,117,046
Spain - 4.0%
Cia de Distribucion Integral Logista Holdings SA		114,300		2,852,068
CIE Automotive SA		73,900		2,126,955
Grupo Catalana Occidente SA		72,100		2,271,861
Indra Sistemas SA		77,400		1,047,581
Prosegur Cia de Seguridad SA		621,200		1,232,142
Viscofan SA		13,900		995,455
				10,526,062

	Shares		Value
Sweden - 1.6%
Granges AB		185,200		$1,766,813
Hexpol AB		144,900		1,794,870
Nordnet AB publ		35,400		583,649
				4,145,332
Taiwan - 3.5%
International Games System Co. Ltd.		168,350		3,175,382
Sporton International, Inc.		230,990		2,054,828
Test Research, Inc.		588,727		1,231,285
Tripod Technology Corp.		362,609		1,335,829
Yageo Corp.		89,964		1,568,262
				9,365,586
Tanzania - 0.3%
Helios Towers PLC *		729,940		935,760
Thailand - 0.7%
Star Petroleum Refining PCL		5,580,077		1,764,932
United Kingdom - 14.5%
Ashtead Technology Holdings PLC *		504,200		1,890,822
B&M European Value Retail SA		405,633		2,416,670
Bodycote PLC		162,025		1,303,589
DCC PLC		12,200		711,153
Grainger PLC		685,520		1,970,381
Harbour Energy PLC		325,056		1,101,562
Hiscox Ltd.		161,500		2,209,779
Informa PLC		266,898		2,287,704
J D Wetherspoon PLC *		205,614		1,813,564
JET2 PLC		125,580		2,048,069
John Wood Group PLC *		937,468		2,321,098
Lancashire Holdings Ltd.		389,819		2,660,281
LSL Property Services PLC		346,404		1,162,321
On the Beach Group PLC * ~		863,249		1,534,001
Pets at Home Group PLC		268,100		1,220,386
Premier Foods PLC		1,043,600		1,563,693
Rathbones Group PLC		32,700		774,319
Sabre Insurance Group PLC ~		1,003,286		1,398,548
Savills PLC		131,685		1,606,893
Tate & Lyle PLC		283,696		2,747,580
Vistry Group PLC		135,439		1,310,534
WH Smith PLC		133,754		2,475,850
				38,528,797
United States - 4.6%
Adient PLC *		38,900		1,593,344
Adtalem Global Education, Inc. *		46,400		1,791,968
Antero Resources Corp. *		67,741		1,564,140
GCC SAB de CV		329,010		2,608,162
GrafTech International Ltd.		187,291		910,234
Impro Precision Industries Ltd. ~		1,797,821		661,210
Ovintiv, Inc.		32,700		1,179,816
RHI Magnesita NV		70,500		1,953,128
				12,262,002
Total Common Stocks (Cost $272,216,453)				254,721,988
EXCHANGE-TRADED FUND - 2.6%
iShares MSCI India *		175,700		6,915,552
Total Exchange-Traded Fund (Cost $8,441,904)				6,915,552

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

158

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INTERNATIONAL SMALL-CAP PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 0.4%
Repurchase Agreement - 0.4%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $984,667; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $1,004,032)		$984,302		$984,302
Total Short-Term Investment (Cost $984,302)				984,302
TOTAL INVESTMENTS - 99.0% (Cost $281,642,659)				262,621,842
OTHER ASSETS & LIABILITIES, NET - 1.0%				2,690,710
NET ASSETS - 100.0%				$265,312,552

Notes to Schedule of Investments

(a) Restricted securities as of March 31, 2023 were as follows

Issuer and Acquisition Date	Cost		Value		Value as a % of Net Assets
Irish Residential Properties REIT PLC Acq 10/20/21		$2,664,574		$1,495,162		0.6%

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

159

PACIFIC SELECT FUND

INTERNATIONAL SMALL-CAP PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Australia		$10,499,665		$425,357		$10,074,308		$-
	Austria		5,099,779		872,784		4,226,995		-
	Belgium		3,931,377		-		3,931,377		-
	Brazil		3,450,012		3,450,012		-		-
	Canada		6,835,914		6,835,914		-		-
	Cayman		483,960		483,960		-		-
	China		10,187,122		1,511,875		8,675,247		-
	Denmark		1,560,782		-		1,560,782		-
	Finland		4,117,652		181,402		3,936,250		-
	France		9,988,496		-		9,988,496		-
	Germany		12,141,367		-		12,141,367		-
	Greece		2,480,221		-		2,480,221		-
	Hong Kong		4,610,091		-		4,610,091		-
	Hungary		2,394,550		-		2,394,550		-
	Indonesia		2,108,319		2,108,319		-		-
	Ireland		5,486,545		2,520,483		2,966,062		-
	Italy		2,891,340		-		2,891,340		-
	Japan		59,920,625		-		59,920,625		-
	Mexico		6,916,704		6,916,704		-		-
	Netherlands		3,681,248		2,149,940		1,531,308		-
	Norway		2,840,981		-		2,840,981		-
	Peru		1,506,006		1,506,006		-		-
	Philippines		4,307,623		2,487,551		1,820,072		-
	Singapore		4,636,092		-		4,636,092		-
	South Korea		5,117,046		-		5,117,046		-
	Spain		10,526,062		-		10,526,062		-
	Sweden		4,145,332		-		4,145,332		-
	Taiwan		9,365,586		-		9,365,586		-
	Tanzania, United Republic Of		935,760		-		935,760		-
	Thailand		1,764,932		-		1,764,932		-
	United Kingdom		38,528,797		9,456,022		29,072,775		-
	United States		12,262,002		9,647,664		2,614,338		-
	Total Common Stocks		254,721,988		50,553,993		204,167,995		-
	Exchange-Traded Fund		6,915,552		6,915,552		-		-
	Short-Term Investment		984,302		-		984,302		-
	Total		$262,621,842		$57,469,545		$205,152,297		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

160

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INTERNATIONAL VALUE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
PREFERRED STOCKS - 0.8%
Germany - 0.8%
Henkel AG & Co. KGaA		86,240		$6,746,894
Total Preferred Stocks (Cost $6,309,874)				6,746,894
COMMON STOCKS - 95.6%
Austria - 1.9%
ams-OSRAM AG *		406,241		3,165,714
Erste Group Bank AG		238,204		7,891,542
Mondi PLC		309,098		4,907,550
				15,964,806
Belgium - 1.1%
Ageas SA		135,427		5,858,341
Proximus SADP		391,312		3,784,086
				9,642,427
Brazil - 3.0%
Atacadao SA		1,424,555		3,482,374
Banco Bradesco SA ADR		2,986,581		7,824,842
Cia de Saneamento Basico do Estado de Sao Paulo SABESP		395,302		3,947,209
Telefonica Brasil SA		812,813		6,199,795
Ultrapar Participacoes SA		1,404,026		3,867,100
				25,321,320
Burkina Faso - 0.5%
Endeavour Mining PLC		159,636		3,847,092
Canada - 1.9%
ARC Resources Ltd.		256,383		2,908,140
Barrick Gold Corp. (TSE)		445,204		8,265,016
Cameco Corp. (NYSE)		134,737		3,526,067
Kinross Gold Corp.		287,562		1,354,417
				16,053,640
China - 0.6%
Baidu, Inc. Class A *		63,387		1,194,292
Dongfeng Motor Group Co. Ltd. Class H		7,668,787		3,602,504
				4,796,796
Finland - 1.6%
Nokia OYJ (OMXH)		1,673,309		8,214,081
Wartsila OYJ Abp		596,149		5,626,017
				13,840,098
France - 11.7%
AXA SA		462,447		14,112,759
BNP Paribas SA		172,890		10,324,563
Carrefour SA		413,769		8,365,411
Cie de Saint-Gobain		178,583		10,151,294
Dassault Aviation SA		13,846		2,739,155
Engie SA		866,625		13,714,071
Orange SA		763,906		9,075,336
Renault SA *		151,225		6,163,350
Societe Generale SA		317,871		7,162,061
TotalEnergies SE		307,687		18,142,355
				99,950,355

	Shares		Value
Germany - 5.3%
CECONOMY AG *		426,893		$1,163,841
Continental AG		69,420		5,201,599
Daimler Truck Holding AG *		304,438		10,274,482
Evonik Industries AG		231,226		4,864,793
Fresenius SE & Co. KGaA		288,466		7,789,515
HeidelbergCement AG		148,101		10,813,911
Mercedes-Benz Group AG		70,307		5,406,802
				45,514,943
Hong Kong - 1.4%
CK Asset Holdings Ltd.		1,124,740		6,818,926
WH Group Ltd. ~		9,307,761		5,548,790
				12,367,716
India - 0.8%
Canara Bank		1,188,307		4,130,916
Oil & Natural Gas Corp. Ltd.		1,331,260		2,453,417
				6,584,333
Indonesia - 0.6%
P.T. Bank Mandiri Persero Tbk		7,745,281		5,333,760
Ireland - 1.4%
AIB Group PLC		1,299,630		5,260,306
Bank of Ireland Group PLC		628,527		6,359,623
				11,619,929
Italy - 5.1%
Assicurazioni Generali SpA		399,748		7,964,817
BPER Banca		1,887,413		4,643,839
Eni SpA		971,591		13,550,162
UniCredit SpA		921,041		17,359,648
				43,518,466
Japan - 23.9%
Alfresa Holdings Corp.		222,390		2,849,426
Alps Alpine Co. Ltd.		278,176		2,677,045
Amada Co. Ltd.		399,170		3,741,597
Benesse Holdings, Inc.		16,683		244,468
Dai-ichi Life Holdings, Inc.		409,765		7,532,905
DeNA Co. Ltd. *		211,441		2,889,501
Eisai Co. Ltd.		43,814		2,488,617
Fuji Media Holdings, Inc.		140,232		1,266,620
Hakuhodo DY Holdings, Inc.		260,740		2,956,122
Hino Motors Ltd. *		795,588		3,331,533
Honda Motor Co. Ltd.		470,340		12,441,041
Inpex Corp.		517,816		5,479,799
Isuzu Motors Ltd.		536,221		6,408,370
Japan Airlines Co. Ltd.		227,997		4,445,508
JGC Holdings Corp.		301,520		3,747,312
Kirin Holdings Co. Ltd.		489,067		7,737,417
Makita Corp.		266,608		6,639,833
Mitsubishi Estate Co. Ltd.		502,457		5,976,557
Mitsubishi UFJ Financial Group, Inc.		1,801,533		11,545,427
MS&AD Insurance Group Holdings, Inc.		259,055		8,028,337
Nikon Corp.		435,804		4,474,056
Nippon Television Holdings, Inc.		262,457		2,262,883
Nissan Motor Co. Ltd.		1,929,878		7,303,792
Nomura Holdings, Inc.		613,845		2,366,567
Ono Pharmaceutical Co. Ltd.		295,680		6,161,432
Resona Holdings, Inc.		1,409,845		6,801,289
Stanley Electric Co. Ltd.		231,786		5,152,703
Subaru Corp.		363,618		5,804,656
Sumitomo Electric Industries Ltd.		571,413		7,340,897
Sumitomo Heavy Industries Ltd.		172,581		4,232,082
Sumitomo Mitsui Trust Holdings, Inc.		258,397		8,877,475
Sumitomo Rubber Industries Ltd.		333,447		3,016,849

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

161

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INTERNATIONAL VALUE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
T&D Holdings, Inc.		841,066		$ 10,424,065
Taiheiyo Cement Corp.		170,621		3,206,565
Takeda Pharmaceutical Co. Ltd.		232,278		7,628,832
THK Co. Ltd.		229,919		5,329,430
Tsuruha Holdings, Inc.		62,306		4,167,262
Yamato Holdings Co. Ltd.		427,987		7,346,516
				204,324,786
Luxembourg - 0.5%
RTL Group SA *		82,194		4,049,165
Malaysia - 0.5%
CIMB Group Holdings Bhd		3,333,361		4,017,181
Mexico - 0.4%
Fresnillo PLC		358,638		3,311,678
Netherlands - 6.3%
ABN AMRO Bank NV CVA ~		617,837		9,797,319
ING Groep NV		738,687		8,772,155
Koninklijke Philips NV		495,067		9,092,835
Shell PLC		909,660		25,924,009
				53,586,318
Norway - 0.1%
Norsk Hydro ASA		163,102		1,217,299
Russia - 0.1%
Gazprom PJSC * W ±		340,336		-
Gazprom PJSC ADR (OTC) * W ±		384		-
Gazprom PJSC ADR (SEAQ) * W ±		142,682		-
LUKOIL PJSC ADR (OTC) * W ±		24,064		-
Mobile TeleSystems PJSC ADR * W ±		327,186		1
Sberbank of Russia PJSC * W ±		927,996		-
VEON Ltd. *		60,476		1,065,587
				1,065,588
South Africa - 1.2%
Anglo American PLC		195,714		6,509,739
MTN Group Ltd.		143,758		1,029,947
Old Mutual Ltd.		4,421,721		2,931,101
				10,470,787
South Korea - 4.5%
Coway Co. Ltd.		90,847		3,666,549
Hankook Tire & Technology Co. Ltd.		126,134		3,373,836
Hyundai Mobis Co. Ltd.		40,522		6,730,284
KB Financial Group, Inc.		250,272		9,140,481
KT Corp. ADR *		577,202		6,545,471
Shinhan Financial Group Co. Ltd.		315,618		8,573,862
				38,030,483
Spain - 0.4%
CaixaBank SA (SIBE)		809,780		3,159,722
Sweden - 1.9%
SKF AB Class B		488,561		9,623,136
Telefonaktiebolaget LM Ericsson Class B		1,129,055		6,618,320
				16,241,456
Switzerland - 5.9%
Adecco Group AG		225,273		8,205,577
Novartis AG		192,770		17,699,856
The Swatch Group AG		24,713		8,510,925
UBS Group AG (XVTX)		768,696		16,266,214
				50,682,572

	Shares		Value
Taiwan - 1.1%
Catcher Technology Co. Ltd.		730,362		$4,565,708
Hon Hai Precision Industry Co. Ltd.		1,403,587		4,804,471
				9,370,179
Thailand - 0.8%
Kasikornbank PCL		1,667,962		6,471,803
Kasikornbank PCL NVDR		123,832		480,364
				6,952,167
United Kingdom - 8.4%
Babcock International Group PLC *		797,372		2,945,636
BP PLC		2,787,751		17,620,032
British Land Co. PLC REIT		672,484		3,225,681
BT Group PLC		3,241,638		5,839,248
easyJet PLC *		1,126,664		7,200,503
J Sainsbury PLC		1,393,881		4,796,600
Kingfisher PLC		1,011,418		3,269,413
Land Securities Group PLC REIT		461,910		3,545,873
Marks & Spencer Group PLC *		609,123		1,256,610
Standard Chartered PLC		1,515,108		11,483,098
WPP PLC		900,177		10,694,920
				71,877,614
United States - 2.7%
GSK PLC		798,101		14,101,896
Holcim AG *		139,324		8,985,186
				23,087,082
Total Common Stocks (Cost $754,959,107)				815,799,758
EXCHANGE-TRADED FUND - 0.6%
iShares Core MSCI EAFE		76,589		5,119,975
Total Exchange-Traded Fund (Cost $5,010,531)				5,119,975

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

162

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INTERNATIONAL VALUE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 1.5%
Repurchase Agreement - 1.5%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $12,767,066; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $13,017,613)		$12,762,333		$12,762,333
Total Short-Term Investment (Cost $12,762,333)				12,762,333
TOTAL INVESTMENTS - 98.5% (Cost $779,041,845)				840,428,960
OTHER ASSETS & LIABILITIES, NET - 1.5%				13,047,360
NET ASSETS - 100.0%				$853,476,320

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $1 or less than 0.1% of the Fund’s net assets were valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or the Board of Trustees.

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Preferred Stocks		$6,746,894		$-		$6,746,894		$-
	Common Stocks
	Austria		15,964,806		-		15,964,806		-
	Belgium		9,642,427		-		9,642,427		-
	Brazil		25,321,320		25,321,320		-		-
	Burkina Faso		3,847,092		3,847,092		-		-
	Canada		16,053,640		16,053,640		-		-
	China		4,796,796		-		4,796,796		-
	Finland		13,840,098		-		13,840,098		-
	France		99,950,355		-		99,950,355		-
	Germany		45,514,943		-		45,514,943		-
	Hong Kong		12,367,716		-		12,367,716		-
	India		6,584,333		-		6,584,333		-
	Indonesia		5,333,760		-		5,333,760		-
	Ireland		11,619,929		-		11,619,929		-
	Italy		43,518,466		-		43,518,466		-
	Japan		204,324,786		-		204,324,786		-
	Luxembourg		4,049,165		-		4,049,165		-
	Malaysia		4,017,181		-		4,017,181		-
	Mexico		3,311,678		-		3,311,678		-
	Netherlands		53,586,318		-		53,586,318		-
	Norway		1,217,299		-		1,217,299		-
	Russia		1,065,588		1,065,587		-		1
	South Africa		10,470,787		-		10,470,787		-
	South Korea		38,030,483		6,545,471		31,485,012		-
	Spain		3,159,722		-		3,159,722		-
	Sweden		16,241,456		-		16,241,456		-
	Switzerland		50,682,572		-		50,682,572		-
	Taiwan		9,370,179		-		9,370,179		-
	Thailand		6,952,167		-		6,952,167		-
	United Kingdom		71,877,614		-		71,877,614		-
	United States		23,087,082		-		23,087,082		-
	Total Common Stocks		815,799,758		52,833,110		762,966,647		1
	Exchange-Traded Fund		5,119,975		5,119,975		-		-
	Short-Term Investment		12,762,333		-		12,762,333		-
	Total		$840,428,960		$57,953,085		$782,475,874		$1

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

163

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HEALTH SCIENCES PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
RIGHTS - 0.0%
Technology - 0.0%
Contra Abiomed, Inc. - Contingent Value Rights * W ±		11,083		$30,922
Total Rights (Cost $11,305)				30,922
WARRANTS - 0.0%
Consumer, Non-Cyclical - 0.0%
CareMax, Inc. Exercise @ $ 11.50 Exp 07/16/25 *		3,646		1,853
Nuvation Bio, Inc. Exercise @ $ 11.50 Exp 07/07/27 *		3,472		417
				2,270
Total Warrants (Cost $16,587)				2,270
COMMON STOCKS - 97.5%
Consumer, Non-Cyclical - 96.6%
10X Genomics, Inc. Class A *		6,807		379,763
Abbott Laboratories		89,694		9,082,414
AbbVie, Inc.		77,490		12,349,581
Agiliti, Inc. *		29,088		464,826
Alcon, Inc. (Switzerland)		62,454		4,405,505
Align Technology, Inc. *		2,805		937,263
Alkermes PLC *		22,807		642,929
Alnylam Pharmaceuticals, Inc. *		11,422		2,288,055
AmerisourceBergen Corp.		40,464		6,478,691
Amgen, Inc.		47,115		11,390,051
Apellis Pharmaceuticals, Inc. *		9,440		622,662
Arcutis Biotherapeutics, Inc. *		34,856		383,416
Argenx SE ADR * (Netherlands)		5,090		1,896,432
Arvinas, Inc. *		10,600		289,592
AstraZeneca PLC (United Kingdom)		28,438		3,940,206
AstraZeneca PLC ADR (United Kingdom)		18,553		1,287,764
Avantor, Inc. *		58,070		1,227,600
Bausch & Lomb Corp. *		57,594		1,002,712
Baxter International, Inc.		77,158		3,129,528
Becton Dickinson & Co.		24,885		6,160,033
Biogen, Inc. *		15,061		4,187,410
BioMarin Pharmaceutical, Inc. *		24,587		2,390,840
Biomea Fusion, Inc. *		12,099		375,190
BioNTech SE ADR (Germany)		7,155		891,298
Blueprint Medicines Corp. *		18,580		835,914
Boston Scientific Corp. *		302,457		15,131,924
Bristol-Myers Squibb Co.		28,146		1,950,799
Catalent, Inc. *		14,315		940,639
Centene Corp. *		20,829		1,316,601
Cerevel Therapeutics Holdings, Inc. *		14,624		356,679
Cigna Group		9,171		2,343,466
Cooper Cos., Inc.		9,112		3,402,056
CureVac NV * (Germany)		14,364		100,117
Daiichi Sankyo Co. Ltd. (Japan)		73,200		2,670,163
Danaher Corp.		53,805		13,561,012
Decibel Therapeutics, Inc. *		20,803		62,825
Design Therapeutics, Inc. *		11,344		65,455
Dexcom, Inc. *		38,066		4,422,508
Edwards Lifesciences Corp. *		25,917		2,144,113
Elevance Health, Inc.		8,788		4,040,810
Eli Lilly & Co.		67,578		23,207,637
Enanta Pharmaceuticals, Inc. *		2,470		99,887
Encompass Health Corp.		10,847		586,823

	Shares		Value
Envista Holdings Corp. *		14,915		$ 609,725
Exact Sciences Corp. *		11,565		784,223
Frequency Therapeutics, Inc. *		19,740		9,929
GE HealthCare Technologies, Inc. *		47,560		3,901,347
Genmab AS * (Denmark)		1,934		731,062
Genmab AS ADR * (Denmark)		13,000		490,880
Gilead Sciences, Inc.		120,569		10,003,610
Glaukos Corp. *		3,530		176,853
Guardant Health, Inc. *		9,220		216,117
HCA Healthcare, Inc.		10,117		2,667,651
Hologic, Inc. *		7,745		625,021
Horizon Therapeutics PLC *		5,304		578,879
Humana, Inc.		6,335		3,075,389
ICON PLC ADR (Ireland) *		5,965		1,274,064
IDEXX Laboratories, Inc. *		5,040		2,520,403
Illumina, Inc. *		8,740		2,032,487
Immuneering Corp. Class A *		11,507		111,733
Immunocore Holdings PLC ADR * (United Kingdom)		7,997		395,372
Incyte Corp. *		23,005		1,662,571
Insulet Corp. *		5,970		1,904,191
Intuitive Surgical, Inc. *		39,321		10,045,336
Ionis Pharmaceuticals, Inc. *		13,405		479,095
IQVIA Holdings, Inc. *		18,215		3,622,781
iRhythm Technologies, Inc. *		1,670		207,130
IVERIC bio, Inc. *		8,505		206,927
Johnson & Johnson		70,577		10,939,435
Karuna Therapeutics, Inc. *		1,285		233,407
Krystal Biotech, Inc. *		2,235		178,934
Legend Biotech Corp. ADR *		10,392		501,102
Masimo Corp. *		6,230		1,149,684
McKesson Corp.		17,617		6,272,533
Medtronic PLC		97,292		7,843,681
Merck & Co., Inc.		165,487		17,606,162
Mirati Therapeutics, Inc. *		10,615		394,666
Moderna, Inc. *		19,979		3,068,375
Monte Rosa Therapeutics, Inc. *		22,869		178,150
Morphic Holding, Inc. *		4,980		187,447
Nautilus Biotechnology, Inc. SPAC *		13,880		38,448
Neurocrine Biosciences, Inc. *		16,210		1,640,776
Novo Nordisk AS Class B (Denmark)		18,405		2,923,105
Novocure Ltd. *		19,560		1,176,338
Nuvalent, Inc. Class A *		8,080		210,807
Omnicell, Inc. *		5,152		302,268
Orchestra BioMed Holdings, Inc. *		11,840		231,709
Penumbra, Inc. *		15,405		4,293,219
Pfizer, Inc.		143,946		5,872,997
Pliant Therapeutics, Inc. *		8,876		236,102
PMV Pharmaceuticals, Inc. *		14,248		67,963
Prime Medicine, Inc. *		16,502		202,975
Prometheus Biosciences, Inc. *		4,949		531,127
Protagonist Therapeutics, Inc. *		13,540		311,420
Prothena Corp. PLC * (Ireland)		6,265		303,665
PTC Therapeutics, Inc. *		4,465		216,285
QIAGEN NV *		22,146		1,017,166
Quest Diagnostics, Inc.		28,025		3,964,977
Rapid Micro Biosystems, Inc. Class A *		16,316		21,374
Regeneron Pharmaceuticals, Inc. *		12,335		10,135,299
Repligen Corp. *		5,695		958,810
ResMed, Inc.		10,197		2,233,041
REVOLUTION Medicines, Inc. *		13,995		303,132
Rhythm Pharmaceuticals, Inc. *		34,632		617,835
Roche Holding AG		4,677		1,336,417
Rocket Pharmaceuticals, Inc. *		12,263		210,065
Sage Therapeutics, Inc. *		15,705		658,982
Sanofi		17,776		1,928,318
Sarepta Therapeutics, Inc. *		13,024		1,795,098
Seagen, Inc. *		15,481		3,134,438
STERIS PLC		6,715		1,284,445
Structure Therapeutics, Inc. ADR *		9,293		221,080
Stryker Corp.		46,189		13,185,574
Tenaya Therapeutics, Inc. *		19,591		55,834

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

164

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HEALTH SCIENCES PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Thermo Fisher Scientific, Inc.		35,096		$ 20,228,282
TScan Therapeutics, Inc. *		23,807		49,995
Ultragenyx Pharmaceutical, Inc. *		4,520		181,252
UnitedHealth Group, Inc.		64,503		30,483,473
Vertex Pharmaceuticals, Inc. *		33,264		10,480,488
Viking Therapeutics, Inc. *		11,710		194,972
Waters Corp. *		8,635		2,673,655
West Pharmaceutical Services, Inc.		10,661		3,693,717
Zimmer Biomet Holdings, Inc.		10,825		1,398,590
Zoetis, Inc.		55,961		9,314,149
				390,649,203
Industrial - 0.9%
Agilent Technologies, Inc.		17,852		2,469,646
Mettler-Toledo International, Inc. *		755		1,155,308
				3,624,954
Total Common Stocks (Cost $344,257,290)				394,274,157
	Principal Amount
SHORT-TERM INVESTMENT - 2.5%
Repurchase Agreement - 2.5%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $9,967,216; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $10,162,863)		$9,963,521		9,963,521
Total Short-Term Investment (Cost $9,963,521)				9,963,521
TOTAL INVESTMENTS - 100.0% (Cost $354,248,703)				404,270,870
DERIVATIVES - (0.0%)				(92,309	)
OTHER ASSETS & LIABILITIES, NET - 0.0%				123,477
NET ASSETS - 100.0%				$404,302,038

Notes to Schedule of Investments

(a) An investment with a value of $30,922 or less than 0.1% of the Fund’s net assets was valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or to the Board of Trustees.

(b) Forward foreign currency contracts outstanding as of March 31, 2023 were as follows:

Currency Purchased		Currency Sold		Settlement Month		Counterparty		Unrealized Appreciation		Unrealized Depreciation
USD	1,903,504	EUR	1,763,000		06/23		ANZ		$-		($16,229	)
USD	6,266,255	GBP	5,134,000		06/23		CBA		-		(76,080	)
Total Forward Foreign Currency Contracts									$-		($92,309	)

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

165

PACIFIC SELECT FUND

HEALTH SCIENCES PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(c) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023			Level 1 Quoted Price		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Assets	Rights		$30,922			$-		$			$30,922
	Warrants		2,270			2,270		-			-
	Common Stocks
	Consumer, Non-Cyclical		390,649,203			377,119,932		13,529,271			-
	Industrial		3,624,954			3,624,954		-			-
	Total Common Stocks		394,274,157			380,744,886		13,529,271			-
	Short-Term Investment		9,963,521			-		9,963,521			-
	Total Assets		404,270,870			380,747,156		23,492,792			30,922
Liabilities	Derivatives:
	Foreign Currency Contracts
	Forward Foreign Currency Contracts		(92,309	)		-		(92,309	)		-
	Total Liabilities		(92,309	)		-		(92,309	)		-
	Total		$404,178,561			$380,747,156		$23,400,483			$30,922

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

166

PACIFIC SELECT FUND

REAL ESTATE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 98.5%
Consumer, Cyclical - 1.1%
Marriott Vacations Worldwide Corp.		34,763		$4,688,138
Financial - 97.4%
Agree Realty Corp. REIT		79,961		5,486,124
Alexandria Real Estate Equities, Inc. REIT		110,810		13,916,628
American Homes 4 Rent Class A REIT		454,213		14,284,999
American Tower Corp. REIT		80,673		16,484,721
Apartment Income REIT Corp.		218,210		7,814,100
Apple Hospitality REIT, Inc.		236,463		3,669,906
AvalonBay Communities, Inc. REIT		121,018		20,338,285
Boston Properties, Inc. REIT		48,600		2,630,232
Broadstone Net Lease, Inc. REIT		353,676		6,016,029
Cousins Properties, Inc. REIT		223,996		4,789,034
CubeSmart REIT		252,157		11,654,697
DiamondRock Hospitality Co. REIT		344,667		2,802,143
Digital Realty Trust, Inc. REIT		142,327		13,992,167
Equinix, Inc. REIT		21,842		15,748,956
Equity LifeStyle Properties, Inc. REIT		197,209		13,238,640
Equity Residential REIT		58,194		3,491,640
Essex Property Trust, Inc. REIT		73,322		15,334,563
Extra Space Storage, Inc. REIT		122,326		19,930,575
First Industrial Realty Trust, Inc. REIT		217,547		11,573,500
Gaming & Leisure Properties, Inc. REIT		194,522		10,126,815
Healthcare Realty Trust, Inc. REIT		220,799		4,268,045
InvenTrust Properties Corp. REIT		90,985		2,129,049
Invitation Homes, Inc. REIT		487,007		15,209,229
Kilroy Realty Corp. REIT		137,393		4,451,533
Medical Properties Trust, Inc. REIT		137,787		1,132,609
National Health Investors, Inc. REIT		43,499		2,243,678
NETSTREIT Corp. REIT		144,742		2,645,884
Prologis, Inc. REIT		256,793		32,040,063
Public Storage REIT		30,993		9,364,225
Regency Centers Corp. REIT		219,597		13,434,944
Rexford Industrial Realty, Inc. REIT		265,453		15,834,271
Sabra Health Care REIT, Inc.		401,623		4,618,665
Simon Property Group, Inc. REIT		50,798		5,687,852
Sun Communities, Inc. REIT		121,459		17,111,144
Terreno Realty Corp. REIT		121,600		7,855,360
Ventas, Inc. REIT		436,710		18,931,378
VICI Properties, Inc. REIT		641,967		20,940,964
Welltower, Inc. REIT		259,927		18,634,167
				409,856,814
Total Common Stocks (Cost $420,874,641)				414,544,952

	Principal Amount		Value
SHORT-TERM INVESTMENT - 1.1%
Repurchase Agreement - 1.1%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $4,673,228; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $4,764,936)		$4,671,496		$4,671,496
Total Short-Term Investment (Cost $4,671,496)				4,671,496
TOTAL INVESTMENTS - 99.6% (Cost $425,546,137)				419,216,448
OTHER ASSETS & LIABILITIES, NET - 0.4%				1,535,280
NET ASSETS - 100.0%				$420,751,728

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

167

PACIFIC SELECT FUND

REAL ESTATE PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$414,544,952		$414,544,952		$-		$-
	Short-Term Investment		4,671,496		-		4,671,496		-
	Total		$419,216,448		$414,544,952		$4,671,496		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

168

PACIFIC SELECT FUND

TECHNOLOGY PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 95.8%
Communications - 27.4%
Alphabet, Inc. Class A *		208,765		$21,655,194
Amazon.com, Inc. *		200,651		20,725,242
Arista Networks, Inc. *		10,254		1,721,236
Booking Holdings, Inc. *		2,764		7,331,261
Charter Communications, Inc. Class A *		3,390		1,212,298
FactSet Research Systems, Inc.		1,251		519,278
Meta Platforms, Inc. Class A *		18,698		3,962,854
Palo Alto Networks, Inc. *		13,083		2,613,198
Pinterest, Inc. Class A *		17,251		470,435
Q2 Holdings, Inc. *		16,937		416,989
Shopify, Inc. Class A * (Canada)		44,512		2,133,905
Tencent Holdings Ltd. (China)		31,100		1,519,835
				64,281,725
Consumer, Cyclical - 0.8%
Mobileye Global, Inc. Class A * (Israel)		41,198		1,782,637
Consumer, Non-Cyclical - 9.8%
Dun & Bradstreet Holdings, Inc.		99,693		1,170,396
Equifax, Inc.		5,618		1,139,555
FleetCor Technologies, Inc. *		14,223		2,998,919
Gartner, Inc. *		6,606		2,152,037
Global Payments, Inc.		22,122		2,328,119
Morningstar, Inc.		3,817		774,965
Nuvei Corp. * ~ (Canada)		13,182		573,747
PayPal Holdings, Inc. *		40,680		3,089,239
S&P Global, Inc.		4,240		1,461,825
TransUnion		9,383		583,060
Verisk Analytics, Inc.		10,881		2,087,629
WEX, Inc. *		24,914		4,581,435
				22,940,926
Energy - 0.3%
Enphase Energy, Inc. *		3,790		796,961
Financial - 11.4%
Aon PLC Class A		8,669		2,733,249
Arthur J Gallagher & Co.		22,126		4,232,925
Charles Schwab Corp.		2,015		105,546
Mastercard, Inc. Class A		36,367		13,216,131
Tradeweb Markets, Inc. Class A		13,805		1,090,871
Visa, Inc. Class A		23,625		5,326,493
				26,705,215
Industrial - 2.6%
Amphenol Corp. Class A		32,540		2,659,169
Hitachi Ltd. (Japan)		60,400		3,319,625
				5,978,794
Technology - 43.5%
Accenture PLC Class A		19,760		5,647,606
Activision Blizzard, Inc.		20,955		1,793,538
Adobe, Inc. *		16,579		6,389,049
Advanced Micro Devices, Inc. *		17,339		1,699,395
Apple, Inc.		6,137		1,011,991
Atlassian Corp. Class A *		5,936		1,016,065
Black Knight, Inc. *		39,327		2,263,662
Constellation Software, Inc. (Canada)		1,583		2,976,145
Descartes Systems Group, Inc. * (Canada)		27,266		2,200,648
Endava PLC ADR * (United Kingdom)		20,267		1,361,537
Fidelity National Information Services, Inc.		25,963		1,410,570
Freshworks, Inc. Class A *		14,326		220,047

	Shares		Value
HubSpot, Inc. *		3,682		$ 1,578,658
Intuit, Inc.		13,696		6,106,088
KLA Corp.		7,191		2,870,432
Lam Research Corp.		1,638		868,337
Marvell Technology, Inc.		70,201		3,039,703
Microsoft Corp.		110,824		31,950,559
MSCI, Inc.		3,244		1,815,634
NVIDIA Corp.		35,155		9,765,004
Paycor HCM, Inc. *		26,939		714,422
Rakus Co. Ltd. (Japan)		27,500		399,395
RingCentral, Inc. Class A *		19,745		605,579
Salesforce, Inc. *		29,052		5,804,009
ServiceNow, Inc. *		8,755		4,068,624
Take-Two Interactive Software, Inc. *		18,036		2,151,695
TaskUS, Inc. Class A * (Philippines)		23,051		332,856
Thoughtworks Holding, Inc. *		102,066		751,206
Topicus.com, Inc. * (Netherlands)		16,930		1,209,841
				102,022,295
Total Common Stocks (Cost $190,675,458)				224,508,553
	Principal Amount
SHORT-TERM INVESTMENT - 5.0%
Repurchase Agreement - 5.0%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $11,715,931; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $11,945,826)		$11,711,588		11,711,588
Total Short-Term Investment (Cost $11,711,588)				11,711,588
TOTAL INVESTMENTS - 100.8% (Cost $202,387,046)				236,220,141
DERIVATIVES - 0.1%				151,351
OTHER ASSETS & LIABILITIES, NET - (0.9%)				(2,087,303	)
NET ASSETS - 100.0%				$234,284,189

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

169

PACIFIC SELECT FUND

TECHNOLOGY PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) Purchased options outstanding as of March 31, 2023 were as follows:

Options on Securities

Description

Exercise Price

Expiration Date

Exchange

Number of Contracts

Notional Amount

Cost

Value

Put - Invesco QQQ Trust

$295.00

06/16/23

OCC

307

$9,056,500

$802,971

$151,351

Total Purchased Options

$802,971

$151,351

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Communication		$64,281,725		$62,761,890		$1,519,835		$-
	Consumer, Cyclical		1,782,637		1,782,637		-		-
	Consumer, Non-Cyclical		22,940,926		22,940,926		-		-
	Energy		796,961		796,961		-		-
	Financial		26,705,215		26,705,215		-		-
	Industrial		5,978,794		2,659,169		3,319,625		-
	Technology		102,022,295		101,622,900		399,395		-
	Total Common Stocks		224,508,553		219,269,698		5,238,855		-
	Short-Term Investment		11,711,588		-		11,711,588		-
	Derivatives:
	Equity Contracts
	Purchased options		151,351		-		151,351		-
	Total		$236,371,492		$219,269,698		$17,101,794		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

170

PACIFIC SELECT FUND

ESG DIVERSIFIED PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
MUTUAL FUNDS - 100.2%
Affiliated Mutual Fund - 14.2%
Pacific Funds ESG Core Bond Class I		361,726		$3,107,228
Unaffiliated Mutual Funds - 86.0%
BlackRock Advantage ESG Emerging Markets Equity Fund Class K		67,343		556,250
Calvert Green Bond Fund Class R6		222,790		3,099,004
Calvert Small Cap Fund Class R6		24,314		776,588
Calvert US Mid Cap Core Responsible Index Fund Class R6		32,672		1,116,395
Fidelity International Sustainability Index Fund Institutional		178,119		2,009,181
Fidelity US Sustainability Index Fund Institutional		454,943		8,193,531
JPMorgan High Yield Fund Class R6		174,975		1,086,593
PIMCO Low Duration ESG Fund Institutional		215,356		1,920,978
				18,758,520
Total Mutual Funds (Cost $22,864,916)				21,865,748
TOTAL INVESTMENTS - 100.2% (Cost $22,864,916)				21,865,748
OTHER ASSETS & LIABILITIES, NET - (0.2%)				(49,950	)
NET ASSETS - 100.0%				$21,815,798

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Mutual Funds		$21,865,748		$21,865,748		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

171

PACIFIC SELECT FUND

ESG DIVERSIFIED GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
MUTUAL FUNDS - 100.3%
Affiliated Mutual Fund - 7.3%
Pacific Funds ESG Core Bond Class I		107,180		$920,673
Unaffiliated Mutual Funds - 93.0%
BlackRock Advantage ESG Emerging Markets Equity Fund Class K		62,147		513,332
Calvert Green Bond Fund Class R6		65,888		916,495
Calvert Small Cap Fund Class R6		19,866		634,518
Calvert US Mid Cap Core Responsible Index Fund Class R6		28,014		957,239
Fidelity International Sustainability Index Fund Institutional		153,458		1,731,001
Fidelity US Sustainability Index Fund Institutional		303,689		5,469,434
JPMorgan High Yield Fund Class R6		70,150		435,631
PIMCO Low Duration ESG Fund Institutional		116,240		1,036,858
				11,694,508
Total Mutual Funds (Cost $13,054,866)				12,615,181
TOTAL INVESTMENTS - 100.3% (Cost $13,054,866)				12,615,181
OTHER ASSETS & LIABILITIES, NET - (0.3%)				(36,767	)
NET ASSETS - 100.0%				$12,578,414

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Mutual Funds		$12,615,181		$12,615,181		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

172

PACIFIC SELECT FUND

PSF AVANTIS BALANCED ALLOCATION PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 85.3%
American Century Diversified Corporate Bond *		425,188		$19,718,094
Avantis Core Fixed Income *		1,323,407		55,754,475
Avantis Emerging Markets Equity *		158,762		8,396,922
Avantis International Equity *		535,004		30,511,278
Avantis Real Estate *		157,571		6,532,894
Avantis Short-Term Fixed Income *		422,561		19,579,913
Avantis US Equity *		1,980,314		140,364,657
Avantis US Small Cap Value *		22,105		1,637,096
				282,495,329
Total Exchange-Traded Funds (Cost $269,136,646)				282,495,329
MUTUAL FUNDS - 14.7%
American Century Diversified Bond Fund Class I *		3,805,311		35,884,086
American Century Small Cap Growth Fund Class I *		92,453		1,669,702
American Century Short Duration Bond Fund Class I *		1,158,337		11,351,703
Total Mutual Funds (Cost $47,465,188)				48,905,491
TOTAL INVESTMENTS - 100.0% (Cost $316,601,834)				331,400,820
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(143,254	)
NET ASSETS - 100.0%				$331,257,566

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Exchange-Traded Funds		$282,495,329		$282,495,329		$-		$-
	Mutual Funds		48,905,491		48,905,491		-		-
	Total		$331,400,820		$331,400,820		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

173

PACIFIC SELECT FUND

PACIFIC DYNAMIX - CONSERVATIVE GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
AFFILIATED MUTUAL FUNDS - 100.0%
PD 1-3 Year Corporate Bond Portfolio Class P *		4,617,481		$51,243,611
PD Aggregate Bond Index Portfolio Class P *		18,458,474		230,233,653
PD High Yield Bond Market Portfolio Class P *		1,780,614		31,264,691
PD Large-Cap Growth Index Portfolio Class P *		840,392		55,884,681
PD Large-Cap Value Index Portfolio Class P *		1,645,789		66,483,431
PD Mid-Cap Index Portfolio Class P *		2,490,086		29,413,029
PD Small-Cap Growth Index Portfolio Class P *		144,322		5,315,209
PD Small-Cap Value Index Portfolio Class P *		171,123		5,276,884
PD Emerging Markets Index Portfolio Class P *		622,456		10,526,656
PD International Large-Cap Index Portfolio Class P *		1,472,252		34,532,412
Total Affiliated Mutual Funds (Cost $490,125,862)				520,174,257
TOTAL INVESTMENTS - 100.0% (Cost $490,125,862)				520,174,257
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(218,713	)
NET ASSETS - 100.0%				$519,955,544

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Affiliated Mutual Funds		$520,174,257		$520,174,257		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

174

PACIFIC SELECT FUND

PACIFIC DYNAMIX - MODERATE GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
AFFILIATED MUTUAL FUNDS - 100.0%
PD 1-3 Year Corporate Bond Portfolio Class P *		20,491,544		$227,409,871
PD Aggregate Bond Index Portfolio Class P *		55,595,355		693,444,197
PD High Yield Bond Market Portfolio Class P *		6,246,386		109,676,416
PD Large-Cap Growth Index Portfolio Class P *		6,569,651		436,870,903
PD Large-Cap Value Index Portfolio Class P *		11,775,541		475,685,808
PD Mid-Cap Index Portfolio Class P *		12,782,419		150,986,640
PD Small-Cap Growth Index Portfolio Class P *		1,018,779		37,520,559
PD Small-Cap Value Index Portfolio Class P *		1,205,210		37,164,921
PD Emerging Markets Index Portfolio Class P *		3,655,267		61,816,004
PD International Large-Cap Index Portfolio Class P *		9,613,969		225,500,426
Total Affiliated Mutual Funds (Cost $2,152,926,042)				2,456,075,745
TOTAL INVESTMENTS - 100.0% (Cost $2,152,926,042)				2,456,075,745
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(910,215	)
NET ASSETS - 100.0%				$2,455,165,530

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Affiliated Mutual Funds		$2,456,075,745		$2,456,075,745		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

175

PACIFIC SELECT FUND

PACIFIC DYNAMIX - GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
AFFILIATED MUTUAL FUNDS - 100.0%
PD 1-3 Year Corporate Bond Portfolio Class P *		15,009,440		$166,570,895
PD Aggregate Bond Index Portfolio Class P *		20,352,875		253,862,632
PD High Yield Bond Market Portfolio Class P *		3,049,457		53,543,525
PD Large-Cap Growth Index Portfolio Class P *		5,100,963		339,205,599
PD Large-Cap Value Index Portfolio Class P *		10,890,242		439,923,205
PD Mid-Cap Index Portfolio Class P *		12,484,673		147,469,644
PD Small-Cap Growth Index Portfolio Class P *		1,243,781		45,807,136
PD Small-Cap Value Index Portfolio Class P *		1,474,082		45,456,090
PD Emerging Markets Index Portfolio Class P *		4,307,469		72,845,717
PD International Large-Cap Index Portfolio Class P *		10,629,534		249,321,023
Total Affiliated Mutual Funds (Cost $1,688,562,244)				1,814,005,466
TOTAL INVESTMENTS - 100.0% (Cost $1,688,562,244)				1,814,005,466
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(638,092	)
NET ASSETS - 100.0%				$1,813,367,374

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Affiliated Mutual Funds		$1,814,005,466		$1,814,005,466		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

176

PACIFIC SELECT FUND

PORTFOLIO OPTIMIZATION CONSERVATIVE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
AFFILIATED MUTUAL FUNDS - 100.0%
Core Income Portfolio Class P *		8,450,199		$98,897,855
Diversified Bond Portfolio Class P *		12,249,352		166,859,573
Floating Rate Income Portfolio Class P *		1,208,982		17,383,476
High Yield Bond Portfolio Class P *		5,189,013		52,491,030
Inflation Managed Portfolio Class P *		2,953,009		40,571,365
Intermediate Bond Portfolio Class P *		16,234,513		146,046,119
Managed Bond Portfolio Class P *		13,355,792		194,064,914
Short Duration Bond Portfolio Class P *		12,681,288		137,810,916
Emerging Markets Debt Portfolio Class P *		2,489,984		29,045,802
Dividend Growth Portfolio Class P *		428,799		15,963,597
Equity Index Portfolio Class P *		98,234		10,693,718
Focused Growth Portfolio Class P *		393,703		19,075,829
Growth Portfolio Class P *		353,444		18,995,813
Large-Cap Core Portfolio Class P *		261,321		17,196,463
Large-Cap Growth Portfolio Class P *		812,419		17,260,427
Large-Cap Value Portfolio Class P *		614,809		21,905,234
Mid-Cap Equity Portfolio Class P *		333,109		11,923,909
Mid-Cap Growth Portfolio Class P *		656,424		17,879,788
Mid-Cap Value Portfolio Class P *		619,605		23,812,028
Small-Cap Equity Portfolio Class P *		84,915		2,957,322
Small-Cap Value Portfolio Class P *		94,308		2,951,950
Value Portfolio Class P *		1,098,853		24,245,864
Value Advantage Portfolio Class P *		882,854		20,734,660
Emerging Markets Portfolio Class P *		932,714		17,592,757
International Growth Portfolio Class P *		2,277,341		19,623,048
International Large-Cap Portfolio Class P *		594,873		8,298,738
International Value Portfolio Class P *		453,495		7,701,107
Total Affiliated Mutual Funds (Cost $1,168,032,314)				1,161,983,302
TOTAL INVESTMENTS - 100.0% (Cost $1,168,032,314)				1,161,983,302
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(412,811	)
NET ASSETS - 100.0%				$1,161,570,491

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Affiliated Mutual Funds		$1,161,983,302		$1,161,983,302		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

177

PACIFIC SELECT FUND

PORTFOLIO OPTIMIZATION MODERATE-CONSERVATIVE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
AFFILIATED MUTUAL FUNDS - 100.0%
Core Income Portfolio Class P *		10,005,272		$117,097,822
Diversified Bond Portfolio Class P *		14,580,834		198,618,804
Floating Rate Income Portfolio Class P *		1,142,775		16,431,520
High Yield Bond Portfolio Class P *		4,909,602		49,664,562
Inflation Managed Portfolio Class P *		2,994,695		41,144,097
Intermediate Bond Portfolio Class P *		19,271,209		173,364,319
Managed Bond Portfolio Class P *		15,832,595		230,053,838
Short Duration Bond Portfolio Class P *		16,451,291		178,780,537
Emerging Markets Debt Portfolio Class P *		1,414,115		16,495,739
Dividend Growth Portfolio Class P *		1,241,628		46,224,067
Equity Index Portfolio Class P *		302,880		32,971,382
Focused Growth Portfolio Class P *		770,082		37,312,279
Growth Portfolio Class P *		754,165		40,532,525
Large-Cap Core Portfolio Class P *		743,496		48,926,359
Large-Cap Growth Portfolio Class P *		1,674,506		35,576,083
Large-Cap Value Portfolio Class P *		1,323,317		47,148,927
Mid-Cap Equity Portfolio Class P *		473,944		16,965,239
Mid-Cap Growth Portfolio Class P *		934,281		25,448,127
Mid-Cap Value Portfolio Class P *		881,297		33,869,099
Small-Cap Equity Portfolio Class P *		192,991		6,721,288
Small-Cap Growth Portfolio Class P *		200,025		5,958,430
Small-Cap Index Portfolio Class P *		201,486		5,892,458
Small-Cap Value Portfolio Class P *		214,214		6,705,112
Value Portfolio Class P *		2,480,183		54,724,516
Value Advantage Portfolio Class P *		1,901,172		44,650,839
Emerging Markets Portfolio Class P *		1,773,929		33,459,651
International Growth Portfolio Class P *		3,552,141		30,607,547
International Large-Cap Portfolio Class P *		1,701,098		23,731,061
International Value Portfolio Class P *		2,293,767		38,951,993
Real Estate Portfolio Class P *		523,358		16,852,359
Total Affiliated Mutual Funds (Cost $1,570,415,209)				1,654,880,579
TOTAL INVESTMENTS - 100.0% (Cost $1,570,415,209)				1,654,880,579
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(583,206	)
NET ASSETS - 100.0%				$1,654,297,373

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Affiliated Mutual Funds		$1,654,880,579		$1,654,880,579		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

178

PACIFIC SELECT FUND

PORTFOLIO OPTIMIZATION MODERATE PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
AFFILIATED MUTUAL FUNDS - 100.0%
Core Income Portfolio Class P *		27,951,813		$327,137,175
Diversified Bond Portfolio Class P *		40,379,116		550,040,685
Floating Rate Income Portfolio Class P *		2,455,350		35,304,519
High Yield Bond Portfolio Class P *		17,582,830		177,864,442
Inflation Managed Portfolio Class P *		10,301,994		141,539,010
Intermediate Bond Portfolio Class P *		53,629,290		482,450,540
Managed Bond Portfolio Class P *		44,162,143		641,693,342
Short Duration Bond Portfolio Class P *		64,235,337		698,062,424
Emerging Markets Debt Portfolio Class P *		6,081,215		70,937,725
Dividend Growth Portfolio Class P *		9,430,656		351,089,940
Equity Index Portfolio Class P *		2,408,352		262,172,190
Focused Growth Portfolio Class P *		5,878,325		284,818,739
Growth Portfolio Class P *		5,007,688		269,137,828
Large-Cap Core Portfolio Class P *		5,576,380		366,958,435
Large-Cap Growth Portfolio Class P *		10,816,201		229,797,941
Large-Cap Value Portfolio Class P *		8,244,669		293,752,228
Mid-Cap Equity Portfolio Class P *		2,041,980		73,094,371
Mid-Cap Growth Portfolio Class P *		4,023,088		109,581,594
Mid-Cap Value Portfolio Class P *		3,798,068		145,963,507
Small-Cap Equity Portfolio Class P *		1,247,361		43,441,860
Small-Cap Growth Portfolio Class P *		1,845,466		54,973,652
Small-Cap Index Portfolio Class P *		1,240,100		36,266,704
Small-Cap Value Portfolio Class P *		1,500,432		46,965,007
Value Portfolio Class P *		14,298,867		315,500,340
Value Advantage Portfolio Class P *		11,900,689		279,499,053
Emerging Markets Portfolio Class P *		9,543,920		180,016,368
International Growth Portfolio Class P *		29,301,455		252,480,327
International Large-Cap Portfolio Class P *		10,985,018		153,245,768
International Small-Cap Portfolio Class P *		2,200,694		36,264,764
International Value Portfolio Class P *		10,520,906		178,662,537
Real Estate Portfolio Class P *		2,252,232		72,522,904
Total Affiliated Mutual Funds (Cost $6,502,439,769)				7,161,235,919
TOTAL INVESTMENTS - 100.0% (Cost $6,502,439,769)				7,161,235,919
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(2,390,173	)
NET ASSETS - 100.0%				$7,158,845,746

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Affiliated Mutual Funds		$7,161,235,919		$7,161,235,919		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

179

PACIFIC SELECT FUND

PORTFOLIO OPTIMIZATION GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
AFFILIATED MUTUAL FUNDS - 100.0%
Core Income Portfolio Class P *		17,825,631		$208,624,265
Diversified Bond Portfolio Class P *		35,667,242		485,855,957
High Yield Bond Portfolio Class P *		19,696,936		199,250,327
Inflation Managed Portfolio Class P *		9,616,108		132,115,625
Intermediate Bond Portfolio Class P *		41,124,056		369,953,119
Managed Bond Portfolio Class P *		33,642,907		488,844,687
Short Duration Bond Portfolio Class P *		15,061,427		163,676,514
Emerging Markets Debt Portfolio Class P *		5,686,341		66,331,493
Dividend Growth Portfolio Class P *		9,226,349		343,483,879
Equity Index Portfolio Class P *		2,179,197		237,226,485
Focused Growth Portfolio Class P *		7,436,421		360,312,192
Growth Portfolio Class P *		5,200,974		279,525,991
Large-Cap Core Portfolio Class P *		3,595,439		236,600,907
Large-Cap Growth Portfolio Class P *		12,980,150		275,772,587
Large-Cap Value Portfolio Class P *		8,585,739		305,904,350
Mid-Cap Equity Portfolio Class P *		2,993,605		107,158,614
Mid-Cap Growth Portfolio Class P *		7,795,941		212,347,280
Mid-Cap Value Portfolio Class P *		6,053,446		232,639,912
Small-Cap Equity Portfolio Class P *		2,339,241		81,468,805
Small-Cap Growth Portfolio Class P *		1,316,362		39,212,451
Small-Cap Index Portfolio Class P *		1,840,254		53,818,204
Small-Cap Value Portfolio Class P *		2,451,420		76,731,906
Value Portfolio Class P *		13,094,665		288,929,971
Value Advantage Portfolio Class P *		11,817,157		277,537,219
Emerging Markets Portfolio Class P *		8,911,072		168,079,666
International Growth Portfolio Class P *		30,286,288		260,966,280
International Large-Cap Portfolio Class P *		16,590,094		231,439,013
International Small-Cap Portfolio Class P *		6,119,954		100,849,381
International Value Portfolio Class P *		14,755,836		250,578,709
Real Estate Portfolio Class P *		2,905,139		93,546,798
Total Affiliated Mutual Funds (Cost $5,667,936,738)				6,628,782,587
TOTAL INVESTMENTS - 100.0% (Cost $5,667,936,738)				6,628,782,587
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(2,182,418	)
NET ASSETS - 100.0%				$6,626,600,169

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Affiliated Mutual Funds		$6,628,782,587		$6,628,782,587		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

180

PACIFIC SELECT FUND

PORTFOLIO OPTIMIZATION AGGRESSIVE-GROWTH PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
AFFILIATED MUTUAL FUNDS - 100.0%
Core Income Portfolio Class P *		3,099,383		$36,273,972
Diversified Bond Portfolio Class P *		4,032,537		54,930,850
High Yield Bond Portfolio Class P *		4,697,346		47,517,424
Inflation Managed Portfolio Class P *		1,138,374		15,640,114
Intermediate Bond Portfolio Class P *		4,699,505		42,276,876
Managed Bond Portfolio Class P *		3,772,525		54,816,275
Short Duration Bond Portfolio Class P *		1,429,797		15,537,987
Emerging Markets Debt Portfolio Class P *		1,360,428		15,869,474
Dividend Growth Portfolio Class P *		2,456,710		91,459,821
Equity Index Portfolio Class P *		580,233		63,163,911
Focused Growth Portfolio Class P *		1,996,489		96,734,593
Growth Portfolio Class P *		1,400,158		75,251,399
Large-Cap Core Portfolio Class P *		957,099		62,982,738
Large-Cap Growth Portfolio Class P *		3,455,903		73,423,145
Large-Cap Value Portfolio Class P *		2,255,222		80,352,105
Mid-Cap Equity Portfolio Class P *		761,080		27,243,515
Mid-Cap Growth Portfolio Class P *		2,138,412		58,246,448
Mid-Cap Value Portfolio Class P *		1,462,538		56,206,793
Small-Cap Equity Portfolio Class P *		739,556		25,756,532
Small-Cap Growth Portfolio Class P *		1,031,864		30,737,676
Small-Cap Index Portfolio Class P *		573,937		16,784,777
Small-Cap Value Portfolio Class P *		829,871		25,975,780
Value Portfolio Class P *		3,447,685		76,072,173
Value Advantage Portfolio Class P *		3,095,411		72,698,693
Emerging Markets Portfolio Class P *		3,845,774		72,538,560
International Growth Portfolio Class P *		8,495,454		73,202,339
International Large-Cap Portfolio Class P *		4,859,887		67,797,527
International Small-Cap Portfolio Class P *		2,939,500		48,439,377
International Value Portfolio Class P *		4,616,509		78,396,019
Real Estate Portfolio Class P *		914,758		29,455,623
Total Affiliated Mutual Funds (Cost $1,308,364,883)				1,585,782,516
TOTAL INVESTMENTS - 100.0% (Cost $1,308,364,883)				1,585,782,516
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(537,383	)
NET ASSETS - 100.0%				$1,585,245,133

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Affiliated Mutual Funds		$1,585,782,516		$1,585,782,516		$-		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

181

PACIFIC SELECT FUND

PD 1-3 YEAR CORPORATE BOND PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Principal Amount		Value
CORPORATE BONDS & NOTES - 98.6%
Basic Materials - 1.5%
Air Products & Chemicals, Inc. 1.500% due 10/15/25		$350,000		$325,830
BHP Billiton Finance USA Ltd. (Australia) 4.875% due 02/27/26		500,000		503,860
Celanese US Holdings LLC
5.900% due 07/05/24		150,000		150,124
6.050% due 03/15/25		950,000		956,115
DuPont de Nemours, Inc. 4.493% due 11/15/25		750,000		749,404
Eastman Chemical Co. 3.800% due 03/15/25		250,000		243,880
EIDP, Inc. 1.700% due 07/15/25		250,000		234,960
Fibria Overseas Finance Ltd. (Brazil) 4.000% due 01/14/25		250,000		243,675
Freeport-McMoRan, Inc. 4.550% due 11/14/24		350,000		348,388
Linde, Inc. 4.700% due 12/05/25		250,000		251,484
LYB International Finance III LLC 1.250% due 10/01/25		350,000		317,264
Nucor Corp. 2.000% due 06/01/25		250,000		235,264
Nutrien Ltd. (Canada) 5.950% due 11/07/25		570,000		586,544
PPG Industries, Inc. 1.200% due 03/15/26		250,000		224,281
Sherwin-Williams Co.
3.125% due 06/01/24		150,000		146,705
4.250% due 08/08/25		840,000		831,078
Steel Dynamics, Inc. 2.800% due 12/15/24		150,000		143,559
Westlake Corp. 0.875% due 08/15/24		250,000		236,935
				6,729,350
Communications - 6.1%
Alibaba Group Holding Ltd. (China) 3.600% due 11/28/24		1,000,000		977,831
Alphabet, Inc. 0.450% due 08/15/25		750,000		688,241
Amazon.com, Inc.
0.450% due 05/12/24		285,000		273,218
0.800% due 06/03/25		350,000		325,782
2.730% due 04/13/24		200,000		196,060
3.000% due 04/13/25		250,000		243,941
3.800% due 12/05/24		1,750,000		1,735,743
4.600% due 12/01/25		250,000		252,166
4.700% due 11/29/24		1,700,000		1,712,322
5.200% due 12/03/25		250,000		254,771
AT&T, Inc. 5.539% due 02/20/26		1,450,000		1,454,800
Baidu, Inc. (China) 4.125% due 06/30/25		750,000		734,707
Booking Holdings, Inc. 3.650% due 03/15/25		150,000		146,908
Charter Communications Operating LLC/Charter Communications Operating Capital 4.908% due 07/23/25		1,250,000		1,238,030
Cisco Systems, Inc.
2.950% due 02/28/26		500,000		483,891
3.500% due 06/15/25		250,000		245,385
Comcast Corp.
3.150% due 03/01/26		500,000		485,119

	Principal Amount		Value
3.375% due 02/15/25		$250,000		$244,983
3.375% due 08/15/25		2,250,000		2,198,873
5.250% due 11/07/25		355,000		362,915
Discovery Communications LLC
3.900% due 11/15/24		200,000		194,478
3.950% due 06/15/25		1,250,000		1,207,143
eBay, Inc.
1.900% due 03/11/25		750,000		709,517
5.900% due 11/22/25		175,000		179,831
Expedia Group, Inc. 5.000% due 02/15/26		250,000		249,068
Fox Corp. 3.050% due 04/07/25		500,000		481,092
Omnicom Group, Inc./Omnicom Capital, Inc. 3.650% due 11/01/24		250,000		245,081
Paramount Global 4.000% due 01/15/26		750,000		725,732
Rogers Communications, Inc. (Canada)
2.950% due 03/15/25 ~		610,000		587,745
3.625% due 12/15/25		250,000		240,844
T-Mobile USA, Inc.
2.250% due 02/15/26		1,000,000		930,961
3.500% due 04/15/25		1,250,000		1,215,729
TCI Communications, Inc. 7.875% due 02/15/26		250,000		272,768
TWDC Enterprises 18 Corp.
3.000% due 02/13/26		250,000		241,764
3.150% due 09/17/25		1,250,000		1,209,279
VeriSign, Inc. 5.250% due 04/01/25		200,000		199,911
Verizon Communications, Inc.
1.450% due 03/20/26		500,000		460,258
3.376% due 02/15/25		750,000		734,978
Vodafone Group PLC (United Kingdom) 4.125% due 05/30/25		750,000		741,966
Walt Disney Co.
1.750% due 08/30/24		1,000,000		962,868
3.350% due 03/24/25		250,000		245,680
Weibo Corp. (China) 3.500% due 07/05/24		250,000		243,387
WPP Finance 2010 (United Kingdom) 3.750% due 09/19/24		500,000		488,312
				27,024,078
Consumer, Cyclical - 7.4%
American Honda Finance Corp.
0.550% due 07/12/24		500,000		474,067
0.750% due 08/09/24		165,000		156,360
1.000% due 09/10/25		350,000		321,470
1.200% due 07/08/25		1,250,000		1,159,113
2.400% due 06/27/24		500,000		485,400
AutoNation, Inc. 3.500% due 11/15/24		250,000		242,088
AutoZone, Inc. 3.625% due 04/15/25		500,000		487,521
Brunswick Corp. 0.850% due 08/18/24		250,000		233,614
Costco Wholesale Corp. 2.750% due 05/18/24		500,000		490,875
Dollar General Corp. 4.250% due 09/20/24		500,000		494,235
Dollar Tree, Inc. 4.000% due 05/15/25		500,000		490,962
DR Horton, Inc.
2.500% due 10/15/24		250,000		239,270
2.600% due 10/15/25		250,000		234,046
General Motors Co. 6.125% due 10/01/25		350,000		356,825
General Motors Financial Co., Inc.
1.200% due 10/15/24		1,115,000		1,044,240
2.750% due 06/20/25		2,500,000		2,368,311

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

182

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
2.900% due 02/26/25		$350,000		$334,287
3.500% due 11/07/24		250,000		243,678
3.800% due 04/07/25		130,000		126,474
4.350% due 04/09/25		250,000		244,917
6.050% due 10/10/25		300,000		305,046
Genuine Parts Co. 1.750% due 02/01/25		250,000		236,310
Harley-Davidson, Inc. 3.500% due 07/28/25		250,000		239,015
Hasbro, Inc. 3.000% due 11/19/24		250,000		241,205
Home Depot, Inc.
2.700% due 04/15/25		135,000		130,614
3.350% due 09/15/25		1,000,000		978,678
4.000% due 09/15/25		80,000		79,460
Honda Motor Co. Ltd. (Japan) 2.271% due 03/10/25		165,000		157,787
Hyatt Hotels Corp. 1.800% due 10/01/24		590,000		558,919
Lennar Corp. 4.500% due 04/30/24		350,000		345,913
Lowe’s Cos., Inc.
4.000% due 04/15/25		250,000		246,735
4.400% due 09/08/25		1,055,000		1,050,423
4.800% due 04/01/26		140,000		140,866
Magna International, Inc. (Canada)
3.625% due 06/15/24		250,000		245,670
5.980% due 03/21/26		250,000		252,197
Marriott International, Inc.
3.750% due 03/15/25		150,000		145,999
3.750% due 10/01/25		250,000		241,136
5.750% due 05/01/25		500,000		503,742
McDonald’s Corp.
1.450% due 09/01/25		250,000		232,929
3.700% due 01/30/26		1,250,000		1,229,367
NIKE, Inc. 2.400% due 03/27/25		500,000		484,114
PACCAR Financial Corp.
0.500% due 08/09/24		140,000		132,170
2.850% due 04/07/25		100,000		96,621
3.550% due 08/11/25		850,000		830,949
4.450% due 03/30/26		200,000		200,381
4.950% due 10/03/25		100,000		100,961
PVH Corp. 4.625% due 07/10/25		250,000		244,934
Ralph Lauren Corp. 3.750% due 09/15/25		250,000		244,790
Southwest Airlines Co. 5.250% due 05/04/25		500,000		499,909
Starbucks Corp.
3.800% due 08/15/25		250,000		246,146
4.750% due 02/15/26		845,000		850,323
Tapestry, Inc. 4.250% due 04/01/25		200,000		197,304
Target Corp. 2.250% due 04/15/25		850,000		817,025
Toyota Motor Credit Corp.
0.500% due 06/18/24		250,000		238,004
0.625% due 09/13/24		440,000		415,925
1.450% due 01/13/25		1,650,000		1,562,924
3.000% due 04/01/25		350,000		339,244
3.650% due 08/18/25		620,000		606,562
3.950% due 06/30/25		175,000		172,914
4.400% due 09/20/24		2,250,000		2,244,961
4.800% due 01/10/25		200,000		201,337
5.400% due 11/10/25		100,000		102,627
United Airlines Pass-Through Trust 4.300% due 02/15/27		578,180		555,483
VF Corp. 2.400% due 04/23/25		250,000		235,826
Walgreens Boots Alliance, Inc. 3.800% due 11/18/24		500,000		490,119

	Principal Amount		Value
Walmart, Inc.
2.850% due 07/08/24		$750,000		$733,552
3.300% due 04/22/24		350,000		345,723
3.900% due 09/09/25		870,000		867,853
Warnermedia Holdings, Inc.
3.638% due 03/15/25 ~		250,000		241,653
6.412% due 03/15/26		165,000		165,883
Whirlpool Corp. 3.700% due 05/01/25		350,000		342,439
WW Grainger, Inc. 1.850% due 02/15/25		150,000		142,644
				32,741,064
Consumer, Non-Cyclical - 14.1%
Abbott Laboratories
2.950% due 03/15/25		500,000		488,743
3.875% due 09/15/25		350,000		345,804
AbbVie, Inc.
2.600% due 11/21/24		1,350,000		1,303,398
3.600% due 05/14/25		2,250,000		2,207,983
3.800% due 03/15/25		350,000		344,458
3.850% due 06/15/24		200,000		197,633
Aetna, Inc. 3.500% due 11/15/24		250,000		244,129
Altria Group, Inc.
2.350% due 05/06/25		250,000		237,486
4.400% due 02/14/26		500,000		496,440
AmerisourceBergen Corp. 3.250% due 03/01/25		150,000		145,307
Amgen, Inc.
1.900% due 02/21/25		250,000		236,918
3.125% due 05/01/25		750,000		727,718
5.250% due 03/02/25		70,000		70,805
5.507% due 03/02/26		625,000		627,694
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium) 3.650% due 02/01/26		1,100,000		1,080,343
Astrazeneca Finance LLC (United Kingdom) 0.700% due 05/28/24		200,000		191,118
AstraZeneca PLC (United Kingdom) 3.375% due 11/16/25		1,000,000		978,247
Automatic Data Processing, Inc. 3.375% due 09/15/25		250,000		245,230
Avery Dennison Corp. 0.850% due 08/15/24		250,000		236,383
BAT Capital Corp. (United Kingdom) 2.789% due 09/06/24		1,250,000		1,205,716
BAT International Finance PLC (United Kingdom) 1.668% due 03/25/26		750,000		682,968
Baxalta, Inc. 4.000% due 06/23/25		250,000		244,977
Baxter International, Inc. 1.322% due 11/29/24		600,000		564,932
Becton Dickinson & Co. 3.734% due 12/15/24		750,000		733,650
Biogen, Inc. 4.050% due 09/15/25		850,000		831,107
Boston Scientific Corp. 1.900% due 06/01/25		500,000		472,865
Bristol-Myers Squibb Co. 2.900% due 07/26/24		1,250,000		1,225,808
Brown-Forman Corp. 3.500% due 04/15/25		200,000		195,610
Bunge Ltd. Finance Corp. 1.630% due 08/17/25		250,000		231,434
Campbell Soup Co. 3.950% due 03/15/25		250,000		245,664
Cardinal Health, Inc. 3.079% due 06/15/24		500,000		488,882

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

183

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PD 1-3 YEAR CORPORATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Cigna Group
1.250% due 03/15/26		$250,000		$226,703
3.250% due 04/15/25		750,000		727,031
3.500% due 06/15/24		350,000		343,491
4.125% due 11/15/25		250,000		246,076
4.500% due 02/25/26		250,000		248,969
5.685% due 03/15/26		250,000		251,630
Cintas Corp. No. 2 3.450% due 05/01/25		250,000		244,092
Colgate-Palmolive Co.
3.100% due 08/15/25		50,000		48,757
4.800% due 03/02/26		145,000		148,253
CommonSpirit Health 1.547% due 10/01/25		500,000		460,964
Conagra Brands, Inc. 4.600% due 11/01/25		750,000		740,583
Constellation Brands, Inc.
3.600% due 05/09/24		50,000		49,368
4.400% due 11/15/25		500,000		493,524
4.750% due 11/15/24		150,000		149,914
5.000% due 02/02/26		85,000		85,036
CVS Health Corp.
2.625% due 08/15/24		1,500,000		1,454,690
3.875% due 07/20/25		250,000		245,624
4.100% due 03/25/25		250,000		247,984
5.000% due 02/20/26		705,000		713,280
DH Europe Finance II SARL 2.200% due 11/15/24		600,000		576,256
Diageo Capital PLC (United Kingdom) 1.375% due 09/29/25		750,000		693,428
Elevance Health, Inc.
1.500% due 03/15/26		500,000		456,516
2.375% due 01/15/25		250,000		239,441
4.900% due 02/08/26		1,070,000		1,069,077
5.350% due 10/15/25		145,000		146,360
Eli Lilly & Co. 5.000% due 02/27/26		110,000		111,022
Equifax, Inc.
2.600% due 12/01/24		250,000		239,003
2.600% due 12/15/25		250,000		233,251
GE HealthCare Technologies, Inc. 5.600% due 11/15/25 ~		1,000,000		1,012,655
General Mills, Inc.
4.000% due 04/17/25		500,000		493,496
5.241% due 11/18/25		80,000		80,255
Gilead Sciences, Inc.
3.500% due 02/01/25		1,350,000		1,323,708
3.650% due 03/01/26		500,000		489,708
GlaxoSmithKline Capital, Inc. (United Kingdom) 3.625% due 05/15/25		750,000		739,590
Global Payments, Inc.
1.200% due 03/01/26		350,000		311,566
1.500% due 11/15/24		460,000		433,533
Haleon UK Capital PLC 3.125% due 03/24/25		350,000		338,474
HCA, Inc.
5.250% due 04/15/25		350,000		350,001
5.375% due 02/01/25		1,000,000		1,001,063
5.875% due 02/15/26		1,000,000		1,015,352
Hershey Co. 3.200% due 08/21/25		500,000		485,491
Humana, Inc.
3.850% due 10/01/24		150,000		147,526
5.700% due 03/13/26		900,000		903,705
Illumina, Inc. 5.800% due 12/12/25		350,000		353,497
J M Smucker Co. 3.500% due 03/15/25		250,000		243,971
Johnson & Johnson
0.550% due 09/01/25		750,000		689,926
2.450% due 03/01/26		250,000		240,333
2.625% due 01/15/25		100,000		97,636

	Principal Amount		Value
Keurig Dr Pepper, Inc.
3.400% due 11/15/25		$250,000		$240,276
4.417% due 05/25/25		100,000		98,793
Kroger Co. 3.500% due 02/01/26		350,000		341,455
Laboratory Corp. of America Holdings
3.250% due 09/01/24		250,000		243,719
3.600% due 02/01/25		600,000		584,006
McCormick & Co., Inc. 0.900% due 02/15/26		600,000		537,939
McKesson Corp.
0.900% due 12/03/25		250,000		226,136
5.250% due 02/15/26		1,065,000		1,068,118
Mead Johnson Nutrition Co. (United Kingdom) 4.125% due 11/15/25		250,000		247,028
Merck & Co., Inc.
0.750% due 02/24/26		250,000		229,042
2.750% due 02/10/25		1,250,000		1,222,295
Mondelez International, Inc. 1.500% due 05/04/25		500,000		468,215
Moody’s Corp. 3.750% due 03/24/25		250,000		245,060
Novartis Capital Corp. (Switzerland)
1.750% due 02/14/25		250,000		238,565
3.000% due 11/20/25		1,250,000		1,211,292
3.400% due 05/06/24		250,000		246,881
PayPal Holdings, Inc.
1.650% due 06/01/25		750,000		704,365
2.400% due 10/01/24		185,000		179,278
PeaceHealth Obligated Group 1.375% due 11/15/25		250,000		227,688
PepsiCo, Inc.
2.250% due 03/19/25		1,000,000		965,552
2.750% due 04/30/25		250,000		242,241
2.850% due 02/24/26		500,000		484,190
3.500% due 07/17/25		250,000		246,636
4.550% due 02/13/26		195,000		198,501
PerkinElmer, Inc. 0.850% due 09/15/24		250,000		234,817
Pfizer, Inc. 0.800% due 05/28/25		1,000,000		927,994
Philip Morris International, Inc.
1.500% due 05/01/25		1,250,000		1,169,843
3.375% due 08/11/25		250,000		242,276
4.875% due 02/13/26		800,000		806,349
5.000% due 11/17/25		240,000		241,994
Procter & Gamble Co.
0.550% due 10/29/25		250,000		229,160
2.700% due 02/02/26		500,000		484,133
4.100% due 01/26/26		50,000		50,419
Quanta Services, Inc. 0.950% due 10/01/24		250,000		233,302
Quest Diagnostics, Inc. 3.500% due 03/30/25		250,000		242,410
Reynolds American, Inc. (United Kingdom) 4.450% due 06/12/25		350,000		343,866
Shire Acquisitions Investments Ireland DAC 2.875% due 09/23/23		140,000		138,311
Stryker Corp.
1.150% due 06/15/25		500,000		462,137
3.375% due 11/01/25		250,000		241,220
3.500% due 03/15/26		250,000		242,555
Sysco Corp. 3.750% due 10/01/25		250,000		243,482
Thermo Fisher Scientific, Inc. 1.215% due 10/18/24		1,000,000		949,531
Tyson Foods, Inc. 3.950% due 08/15/24		1,250,000		1,234,030
Unilever Capital Corp. (United Kingdom) 0.626% due 08/12/24		165,000		156,050

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

184

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PD 1-3 YEAR CORPORATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
UnitedHealth Group, Inc.
0.550% due 05/15/24		$165,000		$157,426
3.100% due 03/15/26		350,000		338,555
3.750% due 07/15/25		250,000		247,087
5.000% due 10/15/24		125,000		125,914
5.150% due 10/15/25		1,305,000		1,330,481
Verisk Analytics, Inc. 4.000% due 06/15/25		250,000		244,229
Zimmer Biomet Holdings, Inc.
1.450% due 11/22/24		180,000		170,205
3.550% due 04/01/25		750,000		727,783
Zoetis, Inc. 5.400% due 11/14/25		595,000		605,361
				62,689,450
Energy - 5.4%
Boardwalk Pipelines LP 4.950% due 12/15/24		500,000		497,207
BP Capital Markets America, Inc.
3.410% due 02/11/26		750,000		731,273
3.796% due 09/21/25		250,000		248,152
Canadian Natural Resources Ltd. (Canada)
2.050% due 07/15/25		250,000		233,730
3.900% due 02/01/25		500,000		489,994
Cheniere Corpus Christi Holdings LLC 5.875% due 03/31/25		500,000		503,806
Chevron Corp.
1.554% due 05/11/25		1,000,000		943,432
3.326% due 11/17/25		250,000		245,367
Chevron USA, Inc.
0.687% due 08/12/25		250,000		229,549
3.900% due 11/15/24		350,000		348,894
Columbia Pipeline Group, Inc. 4.500% due 06/01/25		250,000		246,933
ConocoPhillips Co.
2.400% due 03/07/25		200,000		192,088
3.350% due 11/15/24		500,000		490,018
Continental Resources, Inc. 3.800% due 06/01/24		285,000		279,422
Devon Energy Corp. 5.850% due 12/15/25		500,000		508,327
Enbridge, Inc. (Canada)
2.500% due 01/15/25		250,000		239,656
2.500% due 02/14/25		540,000		517,406
3.500% due 06/10/24		250,000		244,806
5.969% due 03/08/26		180,000		180,556
Energy Transfer LP
2.900% due 05/15/25		250,000		238,375
4.050% due 03/15/25		500,000		490,639
4.750% due 01/15/26		750,000		741,180
5.950% due 12/01/25		250,000		254,112
Enterprise Products Operating LLC
3.750% due 02/15/25		200,000		196,223
5.050% due 01/10/26		555,000		563,001
EOG Resources, Inc. 4.150% due 01/15/26		250,000		247,730
EQT Corp.
5.678% due 10/01/25		60,000		59,884
6.125% due 02/01/25		500,000		503,474
Exxon Mobil Corp.
2.709% due 03/06/25		1,000,000		971,395
2.992% due 03/19/25		500,000		487,054
3.043% due 03/01/26		850,000		825,492
Halliburton Co. 3.800% due 11/15/25		250,000		245,094
Hess Corp. 3.500% due 07/15/24		250,000		244,338
Kinder Morgan, Inc. 4.300% due 06/01/25		1,100,000		1,083,930
Marathon Petroleum Corp. 4.700% due 05/01/25		750,000		748,874
MPLX LP

	Principal Amount		Value
1.750% due 03/01/26		$250,000		$228,291
4.875% due 12/01/24		500,000		497,102
4.875% due 06/01/25		500,000		496,610
ONEOK, Inc. 2.200% due 09/15/25		1,000,000		927,409
Ovintiv Exploration, Inc. 5.375% due 01/01/26		250,000		250,620
Phillips 66 1.300% due 02/15/26		500,000		453,038
Pioneer Natural Resources Co. 5.100% due 03/29/26		240,000		241,123
Plains All American Pipeline LP/PAA Finance Corp. 3.600% due 11/01/24		850,000		828,584
Sabine Pass Liquefaction LLC 5.625% due 03/01/25		1,150,000		1,157,763
Shell International Finance BV (Netherlands)
2.000% due 11/07/24		350,000		336,538
3.250% due 05/11/25		850,000		831,208
TotalEnergies Capital International SA (France) 2.434% due 01/10/25		350,000		338,516
TransCanada PipeLines Ltd. (Canada)
1.000% due 10/12/24		400,000		375,232
6.203% due 03/09/26		250,000		251,812
Transcontinental Gas Pipe Line Co. LLC 7.850% due 02/01/26		250,000		267,947
Williams Cos., Inc.
3.900% due 01/15/25		1,350,000		1,324,195
5.400% due 03/02/26		175,000		178,389
				24,255,788
Financial - 45.3%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
1.650% due 10/29/24		1,435,000		1,343,312
1.750% due 10/29/24		285,000		265,725
3.500% due 01/15/25		685,000		654,488
6.500% due 07/15/25		250,000		252,012
Air Lease Corp.
0.800% due 08/18/24		85,000		79,323
2.300% due 02/01/25		650,000		615,734
2.875% due 01/15/26		750,000		699,816
3.375% due 07/01/25		250,000		238,380
Aircastle Ltd. 4.125% due 05/01/24		10,000		9,796
Alexandria Real Estate Equities, Inc. REIT 3.450% due 04/30/25		250,000		240,113
Allied World Assurance Co. Holdings Ltd. 4.350% due 10/29/25		250,000		242,519
Allstate Corp. 0.750% due 12/15/25		250,000		224,715
Ally Financial, Inc.
5.125% due 09/30/24		350,000		338,923
5.800% due 05/01/25		250,000		241,589
American Express Co.
2.250% due 03/04/25		160,000		152,506
3.000% due 10/30/24		250,000		242,193
3.375% due 05/03/24		1,525,000		1,495,508
3.950% due 08/01/25		2,250,000		2,207,731
4.900% due 02/13/26		45,000		45,451
American International Group, Inc. 2.500% due 06/30/25		583,000		551,866
American Tower Corp. REIT
1.300% due 09/15/25		250,000		228,991
3.375% due 05/15/24		400,000		391,698
4.400% due 02/15/26		500,000		493,198
Ameriprise Financial, Inc.
3.000% due 04/02/25		250,000		240,616
3.700% due 10/15/24		250,000		244,792
Aon Global Ltd. 3.875% due 12/15/25		1,250,000		1,220,119

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

185

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PD 1-3 YEAR CORPORATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Ares Capital Corp.
3.250% due 07/15/25		$250,000		$228,634
4.200% due 06/10/24		1,000,000		967,013
4.250% due 03/01/25		500,000		472,857
Australia & New Zealand Banking Group Ltd. (Australia)
3.700% due 11/16/25		250,000		243,904
5.088% due 12/08/25		250,000		252,168
AvalonBay Communities, Inc. REIT 3.500% due 11/15/24		250,000		241,654
Banco Bilbao Vizcaya Argentaria SA (Spain)
1.125% due 09/18/25		250,000		225,370
5.862% due 09/14/26		200,000		198,418
Banco Santander SA (Spain)
1.849% due 03/25/26		200,000		179,590
2.746% due 05/28/25		250,000		235,975
3.496% due 03/24/25		1,200,000		1,155,208
3.892% due 05/24/24		200,000		195,664
5.147% due 08/18/25		1,310,000		1,287,088
Bank of America Corp.
0.976% due 04/22/25		1,250,000		1,191,486
0.981% due 09/25/25		1,500,000		1,400,633
1.319% due 06/19/26		3,700,000		3,384,951
1.530% due 12/06/25		350,000		327,486
2.456% due 10/22/25		500,000		476,315
3.366% due 01/23/26		2,750,000		2,646,864
3.384% due 04/02/26		350,000		335,817
3.841% due 04/25/25		500,000		491,070
3.875% due 08/01/25		500,000		489,042
4.000% due 01/22/25		1,000,000		977,748
4.200% due 08/26/24		250,000		245,772
4.450% due 03/03/26		1,000,000		977,448
4.827% due 07/22/26		2,150,000		2,126,941
5.080% due 01/20/27		200,000		199,528
Bank of Montreal (Canada)
0.625% due 07/09/24		285,000		269,570
0.949% due 01/22/27		500,000		446,964
1.500% due 01/10/25		145,000		136,431
1.850% due 05/01/25		250,000		234,242
3.700% due 06/07/25		1,610,000		1,564,862
4.250% due 09/14/24		150,000		148,225
5.200% due 12/12/24		900,000		901,557
Bank of New York Mellon Corp.
0.500% due 04/26/24		250,000		237,906
0.850% due 10/25/24		200,000		186,561
3.350% due 04/25/25		200,000		192,765
3.430% due 06/13/25		1,200,000		1,172,564
4.414% due 07/24/26		1,490,000		1,470,974
Bank of Nova Scotia (Canada)
0.650% due 07/31/24		2,135,000		2,013,466
0.700% due 04/15/24		250,000		238,541
1.450% due 01/10/25		190,000		178,206
3.450% due 04/11/25		1,120,000		1,086,874
4.500% due 12/16/25		250,000		245,291
4.750% due 02/02/26		580,000		577,791
5.250% due 12/06/24		165,000		165,456
Barclays PLC (United Kingdom)
2.852% due 05/07/26		1,500,000		1,402,028
3.650% due 03/16/25		250,000		239,164
3.932% due 05/07/25		750,000		729,993
4.375% due 09/11/24		1,500,000		1,446,164
4.375% due 01/12/26		250,000		241,541
7.325% due 11/02/26		250,000		256,259
Berkshire Hathaway, Inc. 3.125% due 03/15/26		750,000		730,961
Blackstone Private Credit Fund
2.350% due 11/22/24		200,000		186,084
2.700% due 01/15/25		115,000		105,988
4.700% due 03/24/25		200,000		191,783
7.050% due 09/29/25 ~		600,000		592,383
BNP Paribas SA (France) 4.250% due 10/15/24		250,000		242,143

	Principal Amount		Value
Boston Properties LP REIT
3.200% due 01/15/25		$350,000		$325,000
3.650% due 02/01/26		500,000		457,464
BPCE SA (France) 4.000% due 04/15/24		350,000		342,384
Brandywine Operating Partnership LP REIT 4.100% due 10/01/24		250,000		230,704
Brixmor Operating Partnership LP REIT 3.850% due 02/01/25		150,000		144,029
Brookfield Corp. (Canada) 4.000% due 01/15/25		350,000		343,832
Canadian Imperial Bank of Commerce (Canada)
0.950% due 10/23/25		250,000		226,445
1.000% due 10/18/24		150,000		140,860
2.250% due 01/28/25		750,000		713,170
3.300% due 04/07/25		35,000		33,904
3.945% due 08/04/25		700,000		680,695
Capital One Financial Corp.
2.636% due 03/03/26		435,000		403,348
3.200% due 02/05/25		500,000		470,275
3.300% due 10/30/24		750,000		716,473
4.166% due 05/09/25		150,000		145,382
4.200% due 10/29/25		1,000,000		933,170
4.985% due 07/24/26		150,000		144,716
Capital One NA 2.280% due 01/28/26		750,000		691,907
Charles Schwab Corp.
0.900% due 03/11/26		1,000,000		877,952
3.625% due 04/01/25		200,000		192,354
3.850% due 05/21/25		250,000		240,673
Chubb INA Holdings, Inc.
3.150% due 03/15/25		400,000		390,551
3.350% due 05/15/24		250,000		245,998
Citigroup, Inc.
0.981% due 05/01/25		850,000		807,913
1.122% due 01/28/27		2,500,000		2,230,316
1.281% due 11/03/25		650,000		607,645
3.106% due 04/08/26		500,000		478,357
3.290% due 03/17/26		2,750,000		2,637,399
3.300% due 04/27/25		2,000,000		1,931,172
3.352% due 04/24/25		250,000		243,760
4.140% due 05/24/25		160,000		157,233
4.400% due 06/10/25		1,000,000		975,518
5.610% due 09/29/26		750,000		756,100
Citizens Bank NA 6.064% due 10/24/25		250,000		235,415
CME Group, Inc. 3.000% due 03/15/25		150,000		145,469
CNA Financial Corp. 4.500% due 03/01/26		350,000		346,791
CNO Financial Group, Inc. 5.250% due 05/30/25		250,000		247,586
Commonwealth Bank of Australia (Australia) 5.316% due 03/13/26		500,000		508,793
Cooperatieve Rabobank UA (Netherlands)
1.375% due 01/10/25		100,000		94,001
3.875% due 08/22/24		835,000		822,602
4.375% due 08/04/25		1,000,000		968,101
Corebridge Financial, Inc. 3.500% due 04/04/25 ~		500,000		480,694
Credit Suisse AG (Switzerland)
3.625% due 09/09/24		250,000		238,192
3.700% due 02/21/25		1,875,000		1,782,056
4.750% due 08/09/24		750,000		727,725
Credit Suisse Group AG (Switzerland) 3.750% due 03/26/25		250,000		230,617
Crown Castle, Inc. REIT
3.200% due 09/01/24		250,000		242,947
4.450% due 02/15/26		500,000		493,775
Deutsche Bank AG (Germany)
0.898% due 05/28/24		1,650,000		1,549,769
1.447% due 04/01/25		250,000		232,677

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

186

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PD 1-3 YEAR CORPORATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
3.700% due 05/30/24		$750,000		$712,300
3.961% due 11/26/25		250,000		236,694
4.162% due 05/13/25		1,000,000		954,757
6.119% due 07/14/26		165,000		159,894
Discover Financial Services
3.950% due 11/06/24		1,000,000		954,272
4.500% due 01/30/26		250,000		241,318
EPR Properties REIT 4.500% due 04/01/25		200,000		193,254
Equinix, Inc. REIT
1.000% due 09/15/25		350,000		317,141
2.625% due 11/18/24		500,000		481,529
Fifth Third Bancorp 2.375% due 01/28/25		250,000		232,758
Fifth Third Bank NA
3.950% due 07/28/25		500,000		470,973
5.852% due 10/27/25		320,000		315,640
First-Citizens Bank & Trust Co. 2.969% due 09/27/25		500,000		454,633
FS KKR Capital Corp.
1.650% due 10/12/24		200,000		184,075
4.125% due 02/01/25		500,000		473,393
4.625% due 07/15/24		250,000		241,930
GLP Capital LP/GLP Financing II, Inc. REIT 5.250% due 06/01/25		350,000		342,131
Goldman Sachs BDC, Inc. 3.750% due 02/10/25		250,000		237,638
Goldman Sachs Group, Inc.
0.855% due 02/12/26		2,000,000		1,832,081
1.093% due 12/09/26		250,000		224,060
3.272% due 09/29/25		1,500,000		1,456,126
3.500% due 04/01/25		350,000		340,045
3.750% due 05/22/25		500,000		485,851
3.750% due 02/25/26		250,000		243,207
3.850% due 07/08/24		500,000		490,267
4.250% due 10/21/25		250,000		242,797
5.700% due 11/01/24		3,885,000		3,914,780
Host Hotels & Resorts LP REIT 4.000% due 06/15/25		250,000		239,992
HSBC Holdings PLC (United Kingdom)
1.645% due 04/18/26		1,850,000		1,690,863
2.099% due 06/04/26		250,000		229,765
2.633% due 11/07/25		1,850,000		1,751,656
2.999% due 03/10/26		200,000		188,797
4.180% due 12/09/25		2,500,000		2,429,936
4.250% due 08/18/25		250,000		237,979
4.292% due 09/12/26		500,000		479,203
7.336% due 11/03/26		200,000		207,710
HSBC USA, Inc.
3.750% due 05/24/24		200,000		195,117
5.625% due 03/17/25		250,000		250,689
Huntington National Bank 4.008% due 05/16/25		1,000,000		958,161
ING Groep NV (Netherlands)
3.550% due 04/09/24		250,000		244,795
3.869% due 03/28/26		750,000		725,834
Intercontinental Exchange, Inc.
3.650% due 05/23/25		95,000		92,958
3.750% due 12/01/25		1,000,000		970,862
JPMorgan Chase & Co.
0.768% due 08/09/25		315,000		295,944
0.824% due 06/01/25		2,755,000		2,612,134
0.969% due 06/23/25		750,000		710,902
1.045% due 11/19/26		2,250,000		2,009,764
1.561% due 12/10/25		250,000		234,622
2.083% due 04/22/26		2,300,000		2,153,379
2.301% due 10/15/25		250,000		239,192
2.595% due 02/24/26		500,000		474,164
3.845% due 06/14/25		400,000		392,449
3.960% due 01/29/27		500,000		485,963
4.080% due 04/26/26		350,000		343,829
5.546% due 12/15/25		4,500,000		4,533,255

	Principal Amount		Value
7.750% due 07/15/25		$250,000		$264,228
KeyBank NA
4.150% due 08/08/25		250,000		236,590
4.700% due 01/26/26		1,000,000		960,714
KeyCorp 3.878% due 05/23/25		45,000		43,399
Kilroy Realty LP REIT 3.450% due 12/15/24		750,000		675,012
Kimco Realty OP LLC REIT 3.300% due 02/01/25		150,000		144,346
Lazard Group LLC 3.750% due 02/13/25		250,000		243,319
Lloyds Banking Group PLC (United Kingdom)
3.511% due 03/18/26		200,000		190,464
3.870% due 07/09/25		1,750,000		1,701,938
4.450% due 05/08/25		250,000		243,356
4.500% due 11/04/24		250,000		242,448
4.650% due 03/24/26		350,000		332,624
4.716% due 08/11/26		200,000		194,871
Main Street Capital Corp. 5.200% due 05/01/24		250,000		244,699
Manufacturers & Traders Trust Co.
4.650% due 01/27/26		250,000		235,632
5.400% due 11/21/25		250,000		241,658
Manulife Financial Corp. (Canada) 4.150% due 03/04/26		250,000		246,272
Marsh & McLennan Cos., Inc. 3.500% due 03/10/25		250,000		243,683
Mastercard, Inc. 2.000% due 03/03/25		750,000		718,069
MetLife, Inc. 3.600% due 11/13/25		500,000		489,587
Mid-America Apartments LP REIT 3.750% due 06/15/24		250,000		245,727
Mitsubishi UFJ Financial Group, Inc. (Japan)
0.962% due 10/11/25		350,000		326,180
1.412% due 07/17/25		1,750,000		1,605,846
2.193% due 02/25/25		250,000		235,696
2.801% due 07/18/24		500,000		482,583
4.788% due 07/18/25		200,000		198,142
5.063% due 09/12/25		1,200,000		1,192,460
5.719% due 02/20/26		1,500,000		1,504,900
Mizuho Financial Group, Inc. (Japan)
2.555% due 09/13/25		1,000,000		955,198
2.651% due 05/22/26		350,000		330,058
Morgan Stanley
0.790% due 05/30/25		2,000,000		1,894,081
0.864% due 10/21/25		1,500,000		1,392,337
0.985% due 12/10/26		250,000		223,031
1.164% due 10/21/25		2,555,000		2,387,624
2.188% due 04/28/26		1,000,000		938,779
3.620% due 04/17/25		300,000		294,655
3.875% due 01/27/26		500,000		488,287
4.000% due 07/23/25		4,250,000		4,162,815
4.679% due 07/17/26		345,000		340,766
5.050% due 01/28/27		300,000		299,399
6.138% due 10/16/26		750,000		764,825
National Australia Bank Ltd. (Australia)
3.375% due 01/14/26		1,000,000		968,037
4.966% due 01/12/26		250,000		252,459
5.132% due 11/22/24		250,000		251,734
National Bank of Canada (Canada) 5.250% due 01/17/25		800,000		799,188
Natwest Group PLC (United Kingdom)
5.847% due 03/02/27		500,000		501,747
7.472% due 11/10/26		750,000		775,797
Nomura Holdings, Inc. (Japan)
1.851% due 07/16/25		250,000		228,960
2.648% due 01/16/25		850,000		805,813
5.709% due 01/09/26		500,000		501,817
Northern Trust Corp. 3.950% due 10/30/25		250,000		239,565

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

187

PACIFIC SELECT FUND

PD 1-3 YEAR CORPORATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Oaktree Specialty Lending Corp. 3.500% due 02/25/25		$150,000		$142,708
Old Republic International Corp. 4.875% due 10/01/24		150,000		148,079
Omega Healthcare Investors, Inc. REIT 4.500% due 01/15/25		400,000		383,578
Owl Rock Capital Corp.
4.000% due 03/30/25		350,000		326,643
5.250% due 04/15/24		350,000		340,746
PNC Bank NA
2.500% due 08/27/24		2,000,000		1,922,214
3.875% due 04/10/25		250,000		241,893
PNC Financial Services Group, Inc.
4.758% due 01/26/27		90,000		88,954
5.671% due 10/28/25		200,000		200,248
Prudential Financial, Inc. 1.500% due 03/10/26		500,000		456,431
Radian Group, Inc. 6.625% due 03/15/25		250,000		249,180
Realty Income Corp. 5.050% due 01/13/26		1,045,000		1,042,006
Realty Income Corp. REIT 3.875% due 04/15/25		200,000		195,063
Royal Bank of Canada (Canada)
0.650% due 07/29/24		200,000		188,991
0.750% due 10/07/24		500,000		468,949
1.150% due 06/10/25		250,000		230,135
1.600% due 01/21/25		2,650,000		2,499,265
3.375% due 04/14/25		250,000		242,711
3.970% due 07/26/24		150,000		148,027
4.650% due 01/27/26		1,000,000		985,810
4.875% due 01/12/26		200,000		200,478
Santander Holdings USA, Inc.
3.500% due 06/07/24		500,000		485,525
4.260% due 06/09/25		150,000		144,945
4.500% due 07/17/25		250,000		239,026
5.807% due 09/09/26		60,000		59,020
Santander UK Group Holdings PLC (United Kingdom)
1.532% due 08/21/26		750,000		669,760
6.833% due 11/21/26		700,000		709,667
Simon Property Group LP REIT
3.375% due 10/01/24		350,000		341,959
3.500% due 09/01/25		750,000		723,774
SITE Centers Corp. REIT 3.625% due 02/01/25		250,000		236,745
Sixth Street Specialty Lending, Inc. 3.875% due 11/01/24		350,000		334,037
Sumitomo Mitsui Banking Corp. (Japan) 3.400% due 07/11/24		250,000		245,427
Sumitomo Mitsui Financial Group, Inc. (Japan)
1.474% due 07/08/25		1,000,000		916,339
2.448% due 09/27/24		350,000		335,612
3.784% due 03/09/26		250,000		241,978
5.464% due 01/13/26		1,785,000		1,803,223
Synchrony Bank 5.400% due 08/22/25		250,000		234,701
Synchrony Financial
4.250% due 08/15/24		750,000		709,394
4.875% due 06/13/25		130,000		120,474
Toronto-Dominion Bank (Canada)
0.750% due 09/11/25		250,000		225,488
1.150% due 06/12/25		250,000		230,227
1.250% due 12/13/24		130,000		122,105
2.650% due 06/12/24		1,500,000		1,458,610
4.285% due 09/13/24		2,700,000		2,669,858
5.103% due 01/09/26		200,000		201,350
Truist Bank
2.150% due 12/06/24		400,000		377,077
2.636% due 09/17/29		1,500,000		1,409,167
3.625% due 09/16/25		250,000		238,652
Truist Financial Corp.
1.200% due 08/05/25		250,000		224,975

	Principal Amount		Value
1.267% due 03/02/27		$250,000		$220,446
2.500% due 08/01/24		250,000		239,085
3.700% due 06/05/25		350,000		333,866
4.260% due 07/28/26		1,200,000		1,157,873
5.900% due 10/28/26		110,000		109,772
US Bancorp
3.600% due 09/11/24		2,000,000		1,935,787
5.727% due 10/21/26		95,000		95,500
US Bank NA
2.050% due 01/21/25		500,000		471,387
2.800% due 01/27/25		350,000		335,165
Ventas Realty LP REIT
2.650% due 01/15/25		350,000		333,760
4.125% due 01/15/26		500,000		485,442
Visa, Inc. 3.150% due 12/14/25		1,500,000		1,458,202
Vornado Realty LP REIT 3.500% due 01/15/25		250,000		226,168
Wells Fargo & Co.
0.805% due 05/19/25		310,000		294,507
2.164% due 02/11/26		2,000,000		1,882,710
2.188% due 04/30/26		250,000		234,465
2.406% due 10/30/25		750,000		713,176
3.000% due 02/19/25		500,000		481,877
3.550% due 09/29/25		1,750,000		1,683,901
3.908% due 04/25/26		295,000		286,549
4.540% due 08/15/26		1,650,000		1,621,116
Welltower OP LLC REIT 4.000% due 06/01/25		500,000		485,936
Western Union Co. 2.850% due 01/10/25		250,000		238,754
Westpac Banking Corp. (Australia)
1.019% due 11/18/24		135,000		126,987
2.350% due 02/19/25		600,000		575,756
2.894% due 02/04/30		1,500,000		1,407,617
3.735% due 08/26/25		250,000		244,721
5.350% due 10/18/24		500,000		503,743
Willis North America, Inc. 3.600% due 05/15/24		150,000		147,867
WP Carey, Inc. REIT 4.000% due 02/01/25		500,000		484,654
				201,735,290
Industrial - 6.9%
3M Co.
2.000% due 02/14/25		250,000		238,261
3.000% due 08/07/25		500,000		480,975
Amcor Flexibles North America, Inc. 4.000% due 05/17/25		350,000		342,957
Amphenol Corp. 4.750% due 03/30/26		255,000		256,177
Arrow Electronics, Inc.
3.250% due 09/08/24		350,000		340,191
6.125% due 03/01/26		100,000		100,262
Berry Global, Inc. 1.570% due 01/15/26		250,000		227,123
Boeing Co.
2.196% due 02/04/26		2,500,000		2,320,641
2.850% due 10/30/24		150,000		144,929
4.875% due 05/01/25		1,500,000		1,497,687
Burlington Northern Santa Fe LLC
3.000% due 04/01/25		350,000		340,215
7.000% due 12/15/25		250,000		265,320
Canadian Pacific Railway Co. (Canada)
1.350% due 12/02/24		725,000		683,379
2.900% due 02/01/25		150,000		144,545
Carlisle Cos., Inc. 3.500% due 12/01/24		150,000		146,718
Carrier Global Corp. 2.242% due 02/15/25		350,000		334,138

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

188

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PD 1-3 YEAR CORPORATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Caterpillar Financial Services Corp.
0.450% due 05/17/24		$150,000		$143,223
0.600% due 09/13/24		300,000		283,712
0.800% due 11/13/25		250,000		228,229
3.400% due 05/13/25		1,250,000		1,225,017
3.650% due 08/12/25		200,000		196,482
4.800% due 01/06/26		1,625,000		1,652,532
4.900% due 01/17/25		200,000		201,236
5.400% due 03/10/25		200,000		203,829
CNH Industrial Capital LLC
1.875% due 01/15/26		250,000		230,524
3.950% due 05/23/25		95,000		92,579
5.450% due 10/14/25		65,000		65,776
CSX Corp. 3.400% due 08/01/24		250,000		244,605
Flex Ltd. 3.750% due 02/01/26		600,000		576,492
General Dynamics Corp.
3.250% due 04/01/25		600,000		584,198
3.500% due 05/15/25		250,000		245,244
Hexcel Corp. 4.950% due 08/15/25		250,000		245,445
Honeywell International, Inc.
1.350% due 06/01/25		850,000		798,042
4.850% due 11/01/24		100,000		100,702
John Deere Capital Corp.
0.450% due 06/07/24		165,000		157,174
0.625% due 09/10/24		70,000		66,286
1.250% due 01/10/25		120,000		113,671
2.050% due 01/09/25		1,000,000		963,239
2.125% due 03/07/25		65,000		62,098
2.650% due 06/24/24		500,000		487,647
3.400% due 06/06/25		555,000		544,069
3.450% due 03/13/25		150,000		147,628
4.550% due 10/11/24		110,000		110,075
4.800% due 01/09/26		165,000		167,608
5.050% due 03/03/26		600,000		610,568
5.150% due 03/03/25		100,000		101,311
Johnson Controls International PLC 3.625% due 07/02/24		500,000		491,878
Keysight Technologies, Inc. 4.550% due 10/30/24		250,000		247,463
L3Harris Technologies, Inc. 3.832% due 04/27/25		500,000		487,229
Legrand France SA (France) 8.500% due 02/15/25		100,000		107,121
Lennox International, Inc. 1.350% due 08/01/25		250,000		229,191
Lockheed Martin Corp. 3.550% due 01/15/26		500,000		495,479
Northrop Grumman Corp. 2.930% due 01/15/25		100,000		96,876
Otis Worldwide Corp. 2.056% due 04/05/25		500,000		472,187
Owens Corning 4.200% due 12/01/24		150,000		148,541
Packaging Corp. of America 3.650% due 09/15/24		100,000		98,409
Parker-Hannifin Corp. 3.650% due 06/15/24		715,000		704,478
Raytheon Technologies Corp.
3.950% due 08/16/25		250,000		247,215
5.000% due 02/27/26		805,000		817,596
Regal Rexnord Corp. 6.050% due 02/15/26 ~		500,000		502,710
Republic Services, Inc.
0.875% due 11/15/25		500,000		451,473
2.500% due 08/15/24		350,000		339,168
Ryder System, Inc.
3.350% due 09/01/25		250,000		238,824
4.625% due 06/01/25		500,000		493,514
Stanley Black & Decker, Inc.
3.400% due 03/01/26		250,000		239,538

	Principal Amount		Value
6.272% due 03/06/26		$750,000		$759,103
TD SYNNEX Corp. 1.250% due 08/09/24		250,000		234,043
Teledyne Technologies, Inc. 0.950% due 04/01/24		200,000		191,759
Trane Technologies Luxembourg Finance SA 3.500% due 03/21/26		250,000		242,717
Tyco Electronics Group SA (Switzerland) 4.500% due 02/13/26		620,000		621,522
Union Pacific Corp.
2.750% due 03/01/26		750,000		716,286
3.250% due 08/15/25		250,000		243,016
4.750% due 02/21/26		65,000		65,822
United Parcel Service, Inc. 3.900% due 04/01/25		750,000		740,904
Vulcan Materials Co. 5.800% due 03/01/26		165,000		166,592
Waste Management, Inc. 0.750% due 11/15/25		500,000		455,108
WRKCo, Inc.
3.750% due 03/15/25		250,000		242,656
4.650% due 03/15/26		250,000		247,734
				30,548,911
Technology - 7.1%
Adobe, Inc. 3.250% due 02/01/25		250,000		245,123
Analog Devices, Inc. 2.950% due 04/01/25		200,000		193,374
Apple, Inc.
0.550% due 08/20/25		350,000		322,603
1.125% due 05/11/25		2,500,000		2,347,321
2.500% due 02/09/25		1,350,000		1,309,554
2.750% due 01/13/25		500,000		487,210
3.200% due 05/13/25		350,000		343,442
3.250% due 02/23/26		500,000		489,382
3.450% due 05/06/24		1,500,000		1,482,871
Applied Materials, Inc. 3.900% due 10/01/25		250,000		246,962
Broadcom, Inc. 3.150% due 11/15/25		500,000		478,649
CDW LLC/CDW Finance Corp. 4.125% due 05/01/25		250,000		242,800
Dell International LLC/EMC Corp.
4.000% due 07/15/24		500,000		493,411
5.850% due 07/15/25		500,000		508,427
Fidelity National Information Services, Inc.
1.150% due 03/01/26		500,000		445,334
4.500% due 07/15/25		110,000		108,838
Fiserv, Inc.
2.750% due 07/01/24		350,000		339,694
3.850% due 06/01/25		750,000		734,797
Genpact Luxembourg SARL 3.375% due 12/01/24		250,000		242,434
Hewlett Packard Enterprise Co.
4.900% due 10/15/25		1,100,000		1,098,708
6.102% due 04/01/26		250,000		252,344
HP, Inc. 2.200% due 06/17/25		500,000		471,467
Intel Corp.
3.400% due 03/25/25		1,750,000		1,720,007
4.875% due 02/10/26		920,000		932,120
International Business Machines Corp.
3.000% due 05/15/24		1,300,000		1,276,247
4.000% due 07/27/25		900,000		890,255
4.500% due 02/06/26		250,000		249,663
7.000% due 10/30/25		250,000		265,117
Intuit, Inc. 0.950% due 07/15/25		250,000		231,013

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

189

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PD 1-3 YEAR CORPORATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
KLA Corp. 4.650% due 11/01/24		$250,000		$249,509
Lam Research Corp.
3.750% due 03/15/26		250,000		245,940
3.800% due 03/15/25		250,000		245,830
Microchip Technology, Inc. 4.250% due 09/01/25		350,000		344,764
Micron Technology, Inc. 4.975% due 02/06/26		350,000		349,371
Microsoft Corp.
2.700% due 02/12/25		250,000		243,636
3.125% due 11/03/25		1,500,000		1,463,573
NetApp, Inc. 1.875% due 06/22/25		600,000		559,753
NVIDIA Corp. 0.584% due 06/14/24		750,000		716,346
NXP BV/NXP Funding LLC (China) 5.350% due 03/01/26		750,000		752,428
Oracle Corp.
1.650% due 03/25/26		500,000		459,563
2.500% due 04/01/25		350,000		335,239
2.950% due 11/15/24		1,950,000		1,894,597
2.950% due 05/15/25		500,000		481,546
5.800% due 11/10/25		1,070,000		1,097,207
QUALCOMM, Inc. 3.450% due 05/20/25		750,000		736,467
Roper Technologies, Inc. 1.000% due 09/15/25		250,000		228,737
Salesforce, Inc. 0.625% due 07/15/24		345,000		327,785
Take-Two Interactive Software, Inc. 3.550% due 04/14/25		500,000		487,212
Texas Instruments, Inc.
1.375% due 03/12/25		150,000		141,690
4.700% due 11/18/24		50,000		50,466
VMware, Inc.
1.000% due 08/15/24		155,000		146,332
4.500% due 05/15/25		750,000		740,894
Western Digital Corp. 4.750% due 02/15/26		500,000		480,370
Xilinx, Inc. 2.950% due 06/01/24		350,000		341,968
				31,570,390
Utilities - 4.8%
Ameren Corp. 2.500% due 09/15/24		500,000		480,523
Appalachian Power Co. 3.400% due 06/01/25		500,000		484,588
Avangrid, Inc.
3.150% due 12/01/24		250,000		242,465
3.200% due 04/15/25		350,000		335,236
Berkshire Hathaway Energy Co.
3.500% due 02/01/25		250,000		245,862
4.050% due 04/15/25		200,000		199,035
Black Hills Corp. 1.037% due 08/23/24		135,000		127,108
Constellation Energy Generation LLC 3.250% due 06/01/25		250,000		241,169
Dominion Energy, Inc.
3.071% due 08/15/24		750,000		727,918
3.300% due 03/15/25		150,000		144,908
DTE Energy Co.
1.050% due 06/01/25		1,250,000		1,149,477
4.220% due 11/01/24		150,000		148,406
Duke Energy Corp.
0.900% due 09/15/25		750,000		683,130
3.750% due 04/15/24		250,000		247,177
5.000% due 12/08/25		90,000		90,675
Eastern Energy Gas Holdings LLC 2.500% due 11/15/24		750,000		723,022

	Principal Amount		Value
Edison International 4.700% due 08/15/25		$100,000		$98,688
Emera US Finance LP (Canada) 0.833% due 06/15/24		350,000		329,878
Entergy Corp. 0.900% due 09/15/25		350,000		315,366
Entergy Louisiana LLC
0.950% due 10/01/24		145,000		136,675
5.400% due 11/01/24		750,000		755,465
Evergy, Inc. 2.450% due 09/15/24		500,000		479,255
Eversource Energy
0.800% due 08/15/25		250,000		227,495
2.900% due 10/01/24		500,000		482,460
4.200% due 06/27/24		110,000		108,989
Exelon Corp. 3.950% due 06/15/25		250,000		244,408
Florida Power & Light Co. 2.850% due 04/01/25		350,000		339,513
Iberdrola International BV (Spain) 5.810% due 03/15/25		250,000		254,931
ITC Holdings Corp. 3.650% due 06/15/24		350,000		343,337
National Fuel Gas Co. 5.200% due 07/15/25		250,000		249,974
National Rural Utilities Cooperative Finance Corp.
1.000% due 10/18/24		315,000		296,611
1.875% due 02/07/25		200,000		189,791
4.450% due 03/13/26		565,000		564,396
5.450% due 10/30/25		100,000		101,928
NextEra Energy Capital Holdings, Inc.
4.255% due 09/01/24		150,000		148,678
4.450% due 06/20/25		1,370,000		1,361,583
6.051% due 03/01/25		1,340,000		1,363,879
NiSource, Inc. 0.950% due 08/15/25		750,000		682,799
Oncor Electric Delivery Co. LLC 2.950% due 04/01/25		750,000		725,275
Pacific Gas and Electric Co.
2.950% due 03/01/26		250,000		232,811
3.150% due 01/01/26		250,000		233,489
3.400% due 08/15/24		750,000		729,125
4.950% due 06/08/25		50,000		49,445
Pinnacle West Capital Corp. 1.300% due 06/15/25		250,000		230,531
Public Service Enterprise Group, Inc. 2.875% due 06/15/24		500,000		486,580
Puget Energy, Inc. 3.650% due 05/15/25		250,000		241,647
Sempra Energy 3.300% due 04/01/25		245,000		237,273
Southern California Edison Co.
0.975% due 08/01/24		525,000		496,973
1.200% due 02/01/26		750,000		675,582
4.200% due 06/01/25		65,000		64,262
Southern California Gas Co. 3.200% due 06/15/25		250,000		242,779
Southern Co. 4.475% due 08/01/24		165,000		163,107
Southern Power Co. 0.900% due 01/15/26		250,000		225,455
Virginia Electric & Power Co. 3.150% due 01/15/26		500,000		484,224
WEC Energy Group, Inc.
4.750% due 01/09/26		135,000		135,140
5.000% due 09/27/25		530,000		530,551
				21,531,047
Total Corporate Bonds & Notes (Cost $443,755,616)				438,825,368

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

190

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PD 1-3 YEAR CORPORATE BOND PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
SHORT-TERM INVESTMENT - 2.0%
Money Market Funds - 2.0%
BlackRock Liquidity Funds: T-Fund Institutional Shares 4.700%		9,072,686		$9,072,686
Total Short-Term Investment (Cost $9,072,686)				9,072,686
TOTAL INVESTMENTS - 100.6% (Cost $452,828,302)				447,898,054
OTHER ASSETS & LIABILITIES, NET - (0.6%)				(2,677,365	)
NET ASSETS - 100.0%				$445,220,689

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Corporate Bonds & Notes		$438,825,368		$-		$438,825,368		$-
	Short-Term Investments		9,072,686		9,072,686		-		-
	Total		$447,898,054		$9,072,686		$438,825,368		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

191

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Principal Amount		Value
CORPORATE BONDS & NOTES - 26.0%
Basic Materials - 0.6%
Air Products & Chemicals, Inc.
3.350% due 07/31/24		$100,000		$98,420
4.800% due 03/03/33		100,000		102,852
Albemarle Corp.
5.050% due 06/01/32		100,000		97,753
5.450% due 12/01/44		50,000		47,496
ArcelorMittal SA (Luxembourg) 6.550% due 11/29/27		200,000		208,208
BHP Billiton Finance USA Ltd. (Australia) 5.000% due 09/30/43		500,000		506,975
Celanese US Holdings LLC
1.400% due 08/05/26		25,000		21,518
6.165% due 07/15/27		250,000		251,781
Dow Chemical Co.
2.100% due 11/15/30		250,000		208,742
3.600% due 11/15/50		250,000		187,397
4.250% due 10/01/34		141,000		131,278
4.800% due 05/15/49		65,000		57,859
DuPont de Nemours, Inc.
4.493% due 11/15/25		350,000		349,722
4.725% due 11/15/28		150,000		151,491
5.319% due 11/15/38		65,000		65,516
5.419% due 11/15/48		75,000		75,177
Eastman Chemical Co.
3.800% due 03/15/25		100,000		97,552
4.650% due 10/15/44		50,000		43,506
4.800% due 09/01/42		100,000		89,332
Ecolab, Inc.
1.650% due 02/01/27		100,000		90,708
2.125% due 02/01/32		100,000		83,564
2.700% due 12/15/51		100,000		66,596
Fibria Overseas Finance Ltd. (Brazil) 5.500% due 01/17/27		50,000		50,245
Freeport-McMoRan, Inc.
4.125% due 03/01/28		150,000		141,381
4.625% due 08/01/30		100,000		94,573
5.450% due 03/15/43		100,000		93,652
Georgia-Pacific LLC 8.875% due 05/15/31		100,000		125,939
Huntsman International LLC 4.500% due 05/01/29		45,000		42,300
International Paper Co.
4.350% due 08/15/48		54,000		46,917
6.000% due 11/15/41		200,000		208,498
Linde, Inc.
1.100% due 08/10/30		50,000		39,941
2.000% due 08/10/50		30,000		17,863
4.700% due 12/05/25		100,000		100,594
LYB International Finance III LLC
1.250% due 10/01/25		20,000		18,129
2.250% due 10/01/30		25,000		20,673
3.375% due 10/01/40		30,000		22,250
3.625% due 04/01/51		40,000		28,496
3.800% due 10/01/60		30,000		20,640
4.200% due 05/01/50		300,000		235,059
LyondellBasell Industries NV 4.625% due 02/26/55		75,000		61,429
Mosaic Co. 5.450% due 11/15/33		163,000		164,040
NewMarket Corp. 2.700% due 03/18/31		100,000		83,309
Newmont Corp.
2.250% due 10/01/30		65,000		54,635
2.600% due 07/15/32		100,000		83,753
5.875% due 04/01/35		100,000		105,690

	Principal Amount		Value
Nucor Corp.
2.000% due 06/01/25		$250,000		$235,264
2.979% due 12/15/55		25,000		16,689
Nutrien Ltd. (Canada)
2.950% due 05/13/30		50,000		44,051
4.200% due 04/01/29		55,000		53,041
5.250% due 01/15/45		139,000		132,311
5.950% due 11/07/25		35,000		36,016
PPG Industries, Inc.
1.200% due 03/15/26		70,000		62,799
2.800% due 08/15/29		50,000		44,522
Reliance Steel & Aluminum Co. 1.300% due 08/15/25		40,000		36,775
Rio Tinto Finance USA Ltd. (Australia)
2.750% due 11/02/51		50,000		34,544
7.125% due 07/15/28		50,000		56,384
Rio Tinto Finance USA PLC (Australia) 4.750% due 03/22/42		200,000		195,613
RPM International, Inc. 5.250% due 06/01/45		50,000		45,707
Sherwin-Williams Co.
3.125% due 06/01/24		25,000		24,451
3.450% due 06/01/27		60,000		57,438
3.950% due 01/15/26		150,000		146,105
4.000% due 12/15/42		50,000		41,203
4.500% due 06/01/47		29,000		25,609
Southern Copper Corp. (Mexico)
5.250% due 11/08/42		150,000		143,715
7.500% due 07/27/35		50,000		58,292
Steel Dynamics, Inc.
1.650% due 10/15/27		10,000		8,592
2.400% due 06/15/25		15,000		14,160
3.250% due 01/15/31		40,000		35,633
3.250% due 10/15/50		20,000		14,001
Suzano Austria GmbH (Brazil)
2.500% due 09/15/28		40,000		34,080
3.125% due 01/15/32		40,000		32,761
3.750% due 01/15/31		125,000		108,878
Teck Resources Ltd. (Canada) 3.900% due 07/15/30		250,000		229,871
Vale Overseas Ltd. (Brazil) 6.875% due 11/21/36		150,000		156,936
Westlake Corp. 4.375% due 11/15/47		100,000		80,174
				7,099,064
Communications - 2.4%
Alibaba Group Holding Ltd. (China)
2.700% due 02/09/41		350,000		235,393
3.600% due 11/28/24		200,000		195,566
Alphabet, Inc.
0.800% due 08/15/27		150,000		131,603
1.900% due 08/15/40		150,000		105,271
1.998% due 08/15/26		200,000		187,448
2.250% due 08/15/60		150,000		92,632
Amazon.com, Inc.
0.450% due 05/12/24		45,000		43,140
0.800% due 06/03/25		565,000		525,905
1.000% due 05/12/26		100,000		90,711
1.500% due 06/03/30		85,000		70,702
1.650% due 05/12/28		100,000		88,704
2.100% due 05/12/31		100,000		85,521
2.500% due 06/03/50		40,000		27,146
2.700% due 06/03/60		300,000		197,257
2.875% due 05/12/41		100,000		78,843
3.000% due 04/13/25		400,000		390,306
3.100% due 05/12/51		100,000		75,852
3.250% due 05/12/61		100,000		73,808
3.300% due 04/13/27		150,000		145,242
3.600% due 04/13/32		200,000		190,109
3.875% due 08/22/37		195,000		181,637

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

192

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
3.950% due 04/13/52		$150,000		$133,297
4.050% due 08/22/47		70,000		63,597
4.100% due 04/13/62		100,000		88,140
4.250% due 08/22/57		100,000		91,236
4.550% due 12/01/27		100,000		101,564
4.600% due 12/01/25		100,000		100,867
4.650% due 12/01/29		500,000		510,988
4.700% due 12/01/32		100,000		102,573
5.200% due 12/03/25		50,000		50,954
America Movil SAB de CV (Mexico)
2.875% due 05/07/30		200,000		176,577
6.375% due 03/01/35		125,000		137,600
AT&T, Inc.
1.650% due 02/01/28		300,000		263,666
2.250% due 02/01/32		165,000		134,962
2.550% due 12/01/33		250,000		201,228
2.750% due 06/01/31		100,000		86,221
3.500% due 06/01/41		200,000		158,012
3.500% due 09/15/53		597,000		434,197
3.550% due 09/15/55		433,000		311,359
3.650% due 06/01/51		350,000		265,503
3.650% due 09/15/59		121,000		86,619
3.800% due 12/01/57		200,000		148,821
3.850% due 06/01/60		45,000		33,783
4.250% due 03/01/27		100,000		99,270
4.300% due 12/15/42		393,000		342,353
4.350% due 03/01/29		150,000		146,930
4.350% due 06/15/45		177,000		151,835
4.500% due 05/15/35		90,000		84,351
4.550% due 03/09/49		100,000		87,373
4.850% due 03/01/39		70,000		65,774
5.350% due 09/01/40		161,000		159,847
5.539% due 02/20/26		300,000		300,993
Baidu, Inc. (China)
1.625% due 02/23/27		200,000		176,747
2.375% due 08/23/31		200,000		163,617
Bell Telephone Co. of Canada or Bell Canada (Canada)
2.150% due 02/15/32		40,000		32,768
3.200% due 02/15/52		20,000		14,078
3.650% due 08/15/52		70,000		54,207
4.464% due 04/01/48		65,000		57,232
Booking Holdings, Inc.
3.600% due 06/01/26		50,000		48,792
4.625% due 04/13/30		200,000		199,950
British Telecommunications PLC (United Kingdom)
5.125% due 12/04/28		200,000		202,026
9.625% due 12/15/30		50,000		62,367
Charter Communications Operating LLC/Charter Communications Operating Capital
3.500% due 06/01/41		60,000		41,226
3.750% due 02/15/28		100,000		92,939
3.850% due 04/01/61		335,000		209,294
3.900% due 06/01/52		175,000		115,891
4.200% due 03/15/28		200,000		189,409
4.400% due 12/01/61		100,000		68,434
4.800% due 03/01/50		350,000		267,116
4.908% due 07/23/25		150,000		148,564
5.125% due 07/01/49		100,000		79,259
5.375% due 05/01/47		50,000		41,302
6.384% due 10/23/35		70,000		69,799
6.484% due 10/23/45		165,000		156,499
6.834% due 10/23/55		50,000		48,651
Cisco Systems, Inc. 2.950% due 02/28/26		50,000		48,389
Comcast Corp.
1.500% due 02/15/31		700,000		562,429
1.950% due 01/15/31		140,000		116,562
2.350% due 01/15/27		40,000		37,284
2.450% due 08/15/52		100,000		62,580
2.800% due 01/15/51		55,000		37,204
2.987% due 11/01/63		101,000		65,607
3.300% due 02/01/27		100,000		96,511
3.400% due 07/15/46		55,000		42,727

	Principal Amount		Value
3.700% due 04/15/24		$85,000		$84,007
3.750% due 04/01/40		155,000		133,264
3.950% due 10/15/25		350,000		346,213
3.999% due 11/01/49		211,000		177,500
4.000% due 08/15/47		100,000		84,950
4.049% due 11/01/52		97,000		81,770
4.150% due 10/15/28		95,000		94,023
4.250% due 10/15/30		420,000		411,755
4.400% due 08/15/35		77,000		74,552
4.600% due 10/15/38		85,000		82,364
4.700% due 10/15/48		325,000		308,009
4.750% due 03/01/44		300,000		284,922
4.950% due 10/15/58		80,000		77,587
5.350% due 11/15/27		65,000		67,715
Corning, Inc.
4.375% due 11/15/57		100,000		84,753
4.700% due 03/15/37		50,000		47,858
5.350% due 11/15/48		100,000		98,578
Deutsche Telekom International Finance BV (Germany) 8.750% due 06/15/30		185,000		226,191
Discovery Communications LLC
3.450% due 03/15/25		100,000		96,113
3.625% due 05/15/30		250,000		221,875
3.950% due 03/20/28		60,000		56,303
4.000% due 09/15/55		118,000		78,413
5.200% due 09/20/47		30,000		24,888
eBay, Inc.
1.900% due 03/11/25		50,000		47,301
2.700% due 03/11/30		100,000		87,690
3.600% due 06/05/27		50,000		47,729
5.900% due 11/22/25		70,000		71,933
Expedia Group, Inc. 3.800% due 02/15/28		50,000		47,407
Fox Corp.
3.050% due 04/07/25		150,000		144,328
5.576% due 01/25/49		200,000		191,380
Interpublic Group of Cos., Inc.
2.400% due 03/01/31		100,000		83,078
3.375% due 03/01/41		70,000		52,780
JD.com, Inc. (China) 4.125% due 01/14/50		200,000		155,000
Juniper Networks, Inc. 3.750% due 08/15/29		100,000		92,756
Meta Platforms, Inc.
3.500% due 08/15/27		200,000		193,257
3.850% due 08/15/32		200,000		187,330
4.450% due 08/15/52		200,000		176,177
4.650% due 08/15/62		200,000		176,956
Motorola Solutions, Inc.
2.750% due 05/24/31		100,000		82,645
4.600% due 02/23/28		100,000		98,745
Omnicom Group, Inc. 2.600% due 08/01/31		100,000		84,994
Omnicom Group, Inc./Omnicom Capital, Inc. 3.600% due 04/15/26		50,000		48,558
Orange SA (France)
5.375% due 01/13/42		150,000		154,223
9.000% due 03/01/31		50,000		62,804
Paramount Global
2.900% due 01/15/27		50,000		45,595
3.375% due 02/15/28		55,000		49,867
4.200% due 05/19/32		300,000		257,523
4.375% due 03/15/43		70,000		49,806
5.900% due 10/15/40		50,000		44,522
6.875% due 04/30/36		100,000		101,722
7.875% due 07/30/30		100,000		109,516
Rogers Communications, Inc. (Canada)
3.200% due 03/15/27 ~		65,000		61,203
3.800% due 03/15/32 ~		65,000		58,396
4.300% due 02/15/48		85,000		68,080
4.350% due 05/01/49		75,000		60,826

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

193

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
4.500% due 03/15/43		$25,000		$21,157
4.550% due 03/15/52 ~		100,000		82,341
5.000% due 03/15/44		100,000		90,324
T-Mobile USA, Inc.
2.250% due 11/15/31		50,000		40,968
2.400% due 03/15/29		25,000		21,792
2.550% due 02/15/31		300,000		254,405
2.700% due 03/15/32		55,000		46,362
3.000% due 02/15/41		20,000		14,844
3.300% due 02/15/51		50,000		35,609
3.400% due 10/15/52		150,000		108,146
3.500% due 04/15/25		200,000		194,517
3.600% due 11/15/60		220,000		157,131
3.750% due 04/15/27		500,000		480,955
3.875% due 04/15/30		300,000		281,731
4.500% due 04/15/50		200,000		174,349
4.950% due 03/15/28		60,000		60,605
5.050% due 07/15/33		160,000		160,870
5.200% due 01/15/33		130,000		132,672
5.650% due 01/15/53		65,000		66,649
5.800% due 09/15/62		95,000		98,570
Telefonica Emisiones SA (Spain)
5.213% due 03/08/47		150,000		131,399
7.045% due 06/20/36		150,000		165,832
Telefonica Europe BV (Spain) 8.250% due 09/15/30		250,000		293,171
TELUS Corp. (Canada)
3.400% due 05/13/32		50,000		43,833
4.600% due 11/16/48		100,000		89,098
Thomson Reuters Corp. (Canada)
5.650% due 11/23/43		150,000		144,998
5.850% due 04/15/40		25,000		24,905
Time Warner Cable LLC
5.875% due 11/15/40		150,000		136,119
6.550% due 05/01/37		100,000		98,666
6.750% due 06/15/39		50,000		49,299
7.300% due 07/01/38		150,000		155,802
VeriSign, Inc. 2.700% due 06/15/31		80,000		67,882
Verizon Communications, Inc.
0.850% due 11/20/25		100,000		91,077
1.450% due 03/20/26		40,000		36,821
1.500% due 09/18/30		90,000		72,914
1.750% due 01/20/31		100,000		80,703
2.100% due 03/22/28		60,000		53,472
2.355% due 03/15/32		500,000		410,440
2.550% due 03/21/31		140,000		119,325
2.650% due 11/20/40		450,000		321,665
2.850% due 09/03/41		45,000		32,997
2.875% due 11/20/50		100,000		66,614
2.987% due 10/30/56		383,000		249,472
3.000% due 11/20/60		90,000		57,821
3.150% due 03/22/30		500,000		455,725
3.376% due 02/15/25		200,000		195,994
3.400% due 03/22/41		580,000		461,696
3.550% due 03/22/51		55,000		42,031
3.700% due 03/22/61		45,000		33,629
4.000% due 03/22/50		250,000		208,439
4.125% due 03/16/27		300,000		297,546
4.272% due 01/15/36		57,000		52,908
4.329% due 09/21/28		250,000		247,254
Vodafone Group PLC (United Kingdom)
5.125% due 06/19/59		100,000		91,498
5.625% due 02/10/53		175,000		173,037
6.150% due 02/27/37		150,000		160,584
7.875% due 02/15/30		50,000		58,401
Walt Disney Co.
1.750% due 08/30/24		50,000		48,143
1.750% due 01/13/26		70,000		65,646
2.000% due 09/01/29		35,000		30,395
2.650% due 01/13/31		310,000		274,043
2.750% due 09/01/49		45,000		31,340

	Principal Amount		Value
3.350% due 03/24/25		$350,000		$343,952
3.375% due 11/15/26		200,000		194,312
3.600% due 01/13/51		200,000		162,706
4.700% due 03/23/50		200,000		195,715
5.400% due 10/01/43		100,000		105,497
6.400% due 12/15/35		39,000		44,886
6.650% due 11/15/37		150,000		178,157
Weibo Corp. (China) 3.375% due 07/08/30		200,000		162,834
				28,215,166
Consumer, Cyclical - 1.5%
Advance Auto Parts, Inc. 1.750% due 10/01/27		20,000		17,285
American Airlines Pass-Through Trust Class AA 3.200% due 06/15/28		107,925		97,046
American Honda Finance Corp.
0.750% due 08/09/24		65,000		61,596
1.200% due 07/08/25		50,000		46,364
1.500% due 01/13/25		150,000		142,005
2.000% due 03/24/28		45,000		39,969
2.250% due 01/12/29		150,000		132,561
Aptiv PLC
3.100% due 12/01/51		200,000		127,017
4.400% due 10/01/46		100,000		79,097
AutoNation, Inc. 4.500% due 10/01/25		100,000		97,809
AutoZone, Inc.
1.650% due 01/15/31		85,000		67,730
3.750% due 06/01/27		100,000		96,812
4.750% due 02/01/33		65,000		64,262
Best Buy Co., Inc. 4.450% due 10/01/28		50,000		49,414
BorgWarner, Inc. 2.650% due 07/01/27		25,000		22,931
Choice Hotels International, Inc. 3.700% due 12/01/29		25,000		22,475
Continental Airlines Pass-Through Trust Class A 4.000% due 10/29/24		16,561		16,016
Costco Wholesale Corp.
1.375% due 06/20/27		200,000		179,431
1.750% due 04/20/32		200,000		164,568
Cummins, Inc.
0.750% due 09/01/25		35,000		31,990
1.500% due 09/01/30		100,000		81,877
2.600% due 09/01/50		100,000		65,352
Darden Restaurants, Inc. 3.850% due 05/01/27		130,000		125,860
Delta Air Lines Pass- Through Trust Class AA
2.000% due 06/10/28		42,526		37,476
3.204% due 04/25/24		25,000		24,490
Dick’s Sporting Goods, Inc. 3.150% due 01/15/32		300,000		246,747
Dollar General Corp.
3.875% due 04/15/27		50,000		48,802
4.150% due 11/01/25		25,000		24,564
Dollar Tree, Inc.
2.650% due 12/01/31		100,000		83,856
4.200% due 05/15/28		45,000		43,846
DR Horton, Inc. 1.300% due 10/15/26		85,000		75,073
General Motors Co.
4.200% due 10/01/27		50,000		48,022
5.400% due 10/15/29		250,000		247,990
5.400% due 04/01/48		50,000		42,999
6.125% due 10/01/25		250,000		254,875
6.250% due 10/02/43		100,000		96,266
6.750% due 04/01/46		25,000		25,321

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

194

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
General Motors Financial Co., Inc.
1.250% due 01/08/26		$500,000		$450,445
2.700% due 06/10/31		100,000		80,190
3.500% due 11/07/24		100,000		97,471
3.600% due 06/21/30		350,000		306,931
3.950% due 04/13/24		100,000		98,552
4.000% due 10/06/26		50,000		47,874
4.300% due 04/06/29		100,000		93,040
5.000% due 04/09/27		60,000		59,332
Hasbro, Inc.
3.500% due 09/15/27		30,000		28,297
3.900% due 11/19/29		100,000		91,121
Home Depot, Inc.
1.375% due 03/15/31		300,000		240,215
2.125% due 09/15/26		100,000		93,817
2.375% due 03/15/51		200,000		126,056
2.700% due 04/15/30		300,000		270,998
3.000% due 04/01/26		25,000		24,250
3.250% due 04/15/32		65,000		59,365
3.350% due 09/15/25		45,000		44,040
3.500% due 09/15/56		55,000		42,973
3.625% due 04/15/52		250,000		201,536
3.900% due 12/06/28		40,000		39,425
4.200% due 04/01/43		300,000		271,987
4.500% due 12/06/48		100,000		94,267
5.875% due 12/16/36		75,000		83,690
Honda Motor Co. Ltd. (Japan) 2.271% due 03/10/25		250,000		239,071
Hyatt Hotels Corp. 4.850% due 03/15/26		25,000		24,869
JetBlue Pass-Through Trust 4.000% due 11/15/32		13,037		11,984
Lear Corp.
2.600% due 01/15/32		100,000		78,374
3.550% due 01/15/52		100,000		65,795
Leggett & Platt, Inc. 3.800% due 11/15/24		50,000		49,153
Lowe’s Cos., Inc.
1.300% due 04/15/28		20,000		17,192
1.700% due 09/15/28		25,000		21,639
1.700% due 10/15/30		20,000		16,181
2.625% due 04/01/31		100,000		85,518
2.800% due 09/15/41		50,000		35,501
3.000% due 10/15/50		15,000		9,976
3.500% due 04/01/51		50,000		35,839
3.650% due 04/05/29		35,000		33,153
3.700% due 04/15/46		250,000		191,495
3.750% due 04/01/32		200,000		184,894
4.250% due 04/01/52		50,000		41,080
4.450% due 04/01/62		250,000		204,364
4.500% due 04/15/30		250,000		247,168
5.150% due 07/01/33		300,000		302,990
Magna International, Inc. (Canada)
4.150% due 10/01/25		25,000		24,480
5.980% due 03/21/26		200,000		201,757
Marriott International, Inc.
2.750% due 10/15/33		150,000		121,547
3.125% due 06/15/26		200,000		189,076
3.500% due 10/15/32		40,000		35,096
McDonald’s Corp.
3.375% due 05/26/25		100,000		97,780
3.500% due 03/01/27		50,000		48,503
3.500% due 07/01/27		300,000		290,749
3.600% due 07/01/30		100,000		94,918
3.700% due 02/15/42		200,000		165,770
3.800% due 04/01/28		25,000		24,550
4.200% due 04/01/50		150,000		132,463
4.450% due 09/01/48		10,000		9,297
4.875% due 07/15/40		10,000		9,748
Mercedes-Benz Finance North America LLC (Germany) 8.500% due 01/18/31		50,000		63,350
NIKE, Inc.

	Principal Amount		Value
2.850% due 03/27/30		$350,000		$321,888
3.375% due 11/01/46		200,000		164,937
3.625% due 05/01/43		25,000		21,637
O’Reilly Automotive, Inc.
4.350% due 06/01/28		100,000		99,166
4.700% due 06/15/32		50,000		49,383
PACCAR Financial Corp.
1.100% due 05/11/26		70,000		63,335
2.000% due 02/04/27		70,000		64,238
3.150% due 06/13/24		30,000		29,421
3.550% due 08/11/25		100,000		97,759
PulteGroup, Inc. 5.500% due 03/01/26		200,000		200,703
Ralph Lauren Corp. 3.750% due 09/15/25		50,000		48,958
Ross Stores, Inc.
0.875% due 04/15/26		100,000		89,041
1.875% due 04/15/31		100,000		80,742
Southwest Airlines Co. 5.250% due 05/04/25		180,000		179,967
Starbucks Corp.
2.450% due 06/15/26		50,000		46,966
3.500% due 03/01/28		100,000		95,581
3.500% due 11/15/50		200,000		155,444
3.550% due 08/15/29		100,000		95,284
3.750% due 12/01/47		35,000		28,207
4.300% due 06/15/45		35,000		31,231
4.450% due 08/15/49		100,000		90,252
4.800% due 02/15/33		70,000		70,691
Tapestry, Inc. 4.125% due 07/15/27		23,000		21,973
Target Corp.
1.950% due 01/15/27		250,000		231,289
2.250% due 04/15/25		150,000		144,181
2.950% due 01/15/52		200,000		144,824
3.375% due 04/15/29		100,000		95,791
4.800% due 01/15/53		35,000		34,420
Toyota Motor Credit Corp.
0.500% due 06/18/24		200,000		190,404
0.800% due 10/16/25		50,000		45,615
1.125% due 06/18/26		200,000		180,462
1.150% due 08/13/27		120,000		104,807
1.800% due 02/13/25		50,000		47,584
1.900% due 04/06/28		100,000		89,038
2.150% due 02/13/30		100,000		87,820
3.050% due 03/22/27		200,000		189,905
3.200% due 01/11/27		100,000		95,804
3.950% due 06/30/25		175,000		172,914
4.700% due 01/12/33		300,000		305,520
United Airlines Pass-Through Trust Class A
2.700% due 05/01/32		221,131		186,850
4.000% due 04/11/26		62,984		59,467
5.875% due 10/15/27		67,908		67,794
United Airlines Pass-Through Trust Class AA
2.875% due 10/07/28		110,354		98,487
3.100% due 07/07/28		35,489		32,030
Walgreens Boots Alliance, Inc. 3.450% due 06/01/26		30,000		28,664
Walmart, Inc.
1.050% due 09/17/26		150,000		135,317
1.800% due 09/22/31		300,000		253,918
2.500% due 09/22/41		250,000		189,328
2.650% due 12/15/24		100,000		97,391
2.650% due 09/22/51		200,000		145,218
2.850% due 07/08/24		90,000		88,026
3.050% due 07/08/26		65,000		62,999
3.250% due 07/08/29		80,000		76,314
3.300% due 04/22/24		300,000		296,334
Warnermedia Holdings, Inc.
3.638% due 03/15/25 ~		300,000		289,983
4.279% due 03/15/32 ~		300,000		268,056
5.050% due 03/15/42 ~		300,000		251,201
5.141% due 03/15/52 ~		400,000		324,538

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

195

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Whirlpool Corp.
2.400% due 05/15/31		$5,000		$4,096
4.600% due 05/15/50		50,000		41,723
4.700% due 05/14/32		30,000		28,812
4.750% due 02/26/29		60,000		59,402
WW Grainger, Inc.
1.850% due 02/15/25		25,000		23,774
3.750% due 05/15/46		50,000		41,586
4.600% due 06/15/45		20,000		19,072
				16,958,548
Consumer, Non-Cyclical - 4.4%
Abbott Laboratories
2.950% due 03/15/25		100,000		97,749
3.750% due 11/30/26		227,000		225,531
4.750% due 11/30/36		100,000		103,977
4.900% due 11/30/46		100,000		102,969
6.150% due 11/30/37		25,000		28,943
AbbVie, Inc.
2.600% due 11/21/24		80,000		77,238
2.950% due 11/21/26		455,000		433,220
3.200% due 05/14/26		100,000		96,611
3.200% due 11/21/29		175,000		162,471
3.600% due 05/14/25		175,000		171,732
3.800% due 03/15/25		70,000		68,892
4.050% due 11/21/39		70,000		62,618
4.250% due 11/21/49		300,000		265,013
4.300% due 05/14/36		50,000		47,034
4.400% due 11/06/42		125,000		114,341
4.500% due 05/14/35		160,000		155,185
4.625% due 10/01/42		100,000		91,927
4.700% due 05/14/45		50,000		46,889
4.750% due 03/15/45		330,000		311,672
Adventist Health System 3.630% due 03/01/49		15,000		11,190
Advocate Health & Hospitals Corp. 3.387% due 10/15/49		50,000		37,703
Aetna, Inc.
3.500% due 11/15/24		100,000		97,651
3.875% due 08/15/47		30,000		23,853
4.125% due 11/15/42		100,000		84,665
Altria Group, Inc.
2.350% due 05/06/25		75,000		71,246
3.400% due 05/06/30		50,000		44,500
3.400% due 02/04/41		250,000		177,063
4.400% due 02/14/26		13,000		12,907
4.450% due 05/06/50		75,000		56,061
4.500% due 05/02/43		100,000		80,119
4.800% due 02/14/29		300,000		297,804
5.800% due 02/14/39		65,000		63,557
5.950% due 02/14/49		75,000		71,068
AmerisourceBergen Corp.
3.400% due 05/15/24		100,000		98,063
3.450% due 12/15/27		50,000		47,369
Amgen, Inc.
1.900% due 02/21/25		35,000		33,168
2.200% due 02/21/27		35,000		32,272
2.300% due 02/25/31		200,000		168,409
2.450% due 02/21/30		50,000		43,612
2.770% due 09/01/53		311,000		199,202
3.200% due 11/02/27		50,000		47,300
3.350% due 02/22/32		145,000		130,958
3.375% due 02/21/50		250,000		188,176
3.625% due 05/22/24		100,000		98,618
4.200% due 03/01/33		200,000		191,824
4.400% due 05/01/45		100,000		88,370
5.150% due 03/02/28		100,000		102,155
5.150% due 11/15/41		174,000		169,335
5.250% due 03/02/25		35,000		35,403
5.250% due 03/02/30		100,000		102,313

	Principal Amount		Value
5.250% due 03/02/33		$290,000		$298,104
5.507% due 03/02/26		40,000		40,172
5.600% due 03/02/43		45,000		46,397
5.650% due 03/02/53		280,000		291,681
5.750% due 03/02/63		395,000		410,335
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium)
3.650% due 02/01/26		750,000		736,598
4.700% due 02/01/36		525,000		523,145
4.900% due 02/01/46		750,000		733,908
Anheuser-Busch InBev Finance, Inc. (Belgium) 4.625% due 02/01/44		300,000		283,779
Anheuser-Busch InBev Worldwide, Inc. (Belgium)
3.500% due 06/01/30		350,000		330,206
4.000% due 04/13/28		80,000		79,144
4.375% due 04/15/38		35,000		33,268
4.439% due 10/06/48		200,000		182,726
4.600% due 04/15/48		50,000		47,237
4.750% due 01/23/29		55,000		56,198
4.900% due 01/23/31		65,000		67,005
5.450% due 01/23/39		65,000		68,326
5.550% due 01/23/49		100,000		107,367
5.800% due 01/23/59		45,000		49,477
Archer-Daniels-Midland Co.
2.700% due 09/15/51		250,000		173,446
2.900% due 03/01/32		45,000		40,006
4.500% due 08/15/33		200,000		200,352
Ascension Health 3.945% due 11/15/46		70,000		61,092
Astrazeneca Finance LLC (United Kingdom)
1.200% due 05/28/26		35,000		31,894
2.250% due 05/28/31		20,000		17,218
4.875% due 03/03/28		150,000		154,410
AstraZeneca PLC (United Kingdom)
1.375% due 08/06/30		300,000		244,696
3.000% due 05/28/51		15,000		11,423
3.125% due 06/12/27		100,000		95,410
3.375% due 11/16/25		100,000		97,825
4.000% due 09/18/42		25,000		22,808
4.375% due 11/16/45		25,000		24,052
6.450% due 09/15/37		100,000		118,073
Automatic Data Processing, Inc.
1.250% due 09/01/30		40,000		32,814
1.700% due 05/15/28		40,000		35,720
3.375% due 09/15/25		25,000		24,523
Avery Dennison Corp.
2.650% due 04/30/30		30,000		25,641
5.750% due 03/15/33		100,000		104,104
Banner Health
1.897% due 01/01/31		40,000		32,771
2.913% due 01/01/51		50,000		33,966
BAT Capital Corp. (United Kingdom)
2.259% due 03/25/28		325,000		278,877
2.726% due 03/25/31		250,000		202,827
2.789% due 09/06/24		35,000		33,760
3.215% due 09/06/26		50,000		47,140
3.222% due 08/15/24		100,000		97,024
3.462% due 09/06/29		50,000		44,244
3.557% due 08/15/27		100,000		93,028
4.390% due 08/15/37		70,000		57,177
4.700% due 04/02/27		200,000		196,447
4.758% due 09/06/49		50,000		38,425
BAT International Finance PLC (United Kingdom) 1.668% due 03/25/26		25,000		22,766
Baxalta, Inc.
4.000% due 06/23/25		15,000		14,699
5.250% due 06/23/45		9,000		8,862
Baxter International, Inc.
1.322% due 11/29/24		400,000		376,621
1.915% due 02/01/27		100,000		89,551
2.539% due 02/01/32		100,000		81,491
3.950% due 04/01/30		150,000		139,956

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

196

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Baylor Scott & White Holdings 2.839% due 11/15/50		$200,000		$135,219
Becton Dickinson & Co.
2.823% due 05/20/30		70,000		62,499
3.363% due 06/06/24		23,000		22,584
3.734% due 12/15/24		36,000		35,215
3.794% due 05/20/50		350,000		284,399
4.669% due 06/06/47		50,000		46,797
Bestfoods 7.250% due 12/15/26		200,000		216,353
Biogen, Inc.
2.250% due 05/01/30		55,000		46,329
3.150% due 05/01/50		440,000		306,803
Boston Scientific Corp.
2.650% due 06/01/30		350,000		309,452
4.550% due 03/01/39		50,000		47,080
4.700% due 03/01/49		70,000		66,635
Bristol-Myers Squibb Co.
0.750% due 11/13/25		50,000		45,697
1.125% due 11/13/27		50,000		43,842
1.450% due 11/13/30		280,000		228,634
2.350% due 11/13/40		20,000		14,428
2.550% due 11/13/50		30,000		20,102
2.950% due 03/15/32		50,000		45,102
3.200% due 06/15/26		50,000		48,353
3.250% due 08/01/42		100,000		80,121
3.400% due 07/26/29		118,000		112,309
3.700% due 03/15/52		70,000		58,564
3.900% due 02/20/28		100,000		98,171
3.900% due 03/15/62		250,000		207,860
4.125% due 06/15/39		35,000		32,632
4.250% due 10/26/49		365,000		331,281
4.350% due 11/15/47		50,000		46,547
Brown-Forman Corp. 4.500% due 07/15/45		40,000		37,085
Bunge Ltd. Finance Corp.
2.750% due 05/14/31		100,000		85,116
3.250% due 08/15/26		20,000		18,978
3.750% due 09/25/27		30,000		28,840
California Institute of Technology 3.650% due 09/01/19		20,000		14,085
Campbell Soup Co.
4.150% due 03/15/28		100,000		98,021
4.800% due 03/15/48		20,000		18,635
Cardinal Health, Inc.
3.079% due 06/15/24		50,000		48,888
3.410% due 06/15/27		100,000		94,857
3.750% due 09/15/25		50,000		48,532
4.368% due 06/15/47		50,000		41,632
4.900% due 09/15/45		50,000		45,306
Centene Corp.
3.000% due 10/15/30		200,000		168,596
4.625% due 12/15/29		200,000		188,228
Children’s Hospital of Philadelphia 2.704% due 07/01/50		250,000		164,959
Church & Dwight Co., Inc.
2.300% due 12/15/31		40,000		33,597
5.000% due 06/15/52		100,000		99,407
Cigna Group
1.250% due 03/15/26		65,000		58,943
2.375% due 03/15/31		60,000		50,650
2.400% due 03/15/30		120,000		104,148
3.050% due 10/15/27		30,000		28,023
3.200% due 03/15/40		85,000		66,683
3.400% due 03/15/50		65,000		48,106
3.400% due 03/15/51		40,000		29,493
3.875% due 10/15/47		50,000		40,595
4.125% due 11/15/25		45,000		44,294
4.375% due 10/15/28		80,000		78,878
4.800% due 08/15/38		60,000		58,188
4.900% due 12/15/48		555,000		522,734

	Principal Amount		Value
Cintas Corp. No. 2
3.450% due 05/01/25		$25,000		$24,409
3.700% due 04/01/27		50,000		48,533
Coca-Cola Co.
1.375% due 03/15/31		200,000		163,250
1.500% due 03/05/28		60,000		53,328
2.000% due 03/05/31		65,000		55,696
2.125% due 09/06/29		100,000		89,816
2.250% due 01/05/32		100,000		87,143
2.875% due 05/05/41		100,000		79,925
3.000% due 03/05/51		415,000		324,046
Colgate-Palmolive Co.
3.100% due 08/15/27		50,000		48,242
3.700% due 08/01/47		100,000		90,494
4.800% due 03/02/26		60,000		61,346
CommonSpirit Health
4.350% due 11/01/42		150,000		129,594
6.073% due 11/01/27		80,000		82,187
Conagra Brands, Inc.
4.300% due 05/01/24		15,000		14,854
4.600% due 11/01/25		35,000		34,561
4.850% due 11/01/28		45,000		44,827
5.300% due 11/01/38		50,000		48,983
5.400% due 11/01/48		40,000		39,223
Constellation Brands, Inc.
2.250% due 08/01/31		160,000		131,547
3.500% due 05/09/27		15,000		14,439
4.350% due 05/09/27		150,000		148,046
4.400% due 11/15/25		35,000		34,547
4.650% due 11/15/28		30,000		29,998
5.250% due 11/15/48		30,000		29,002
CVS Health Corp.
1.300% due 08/21/27		335,000		291,865
1.750% due 08/21/30		200,000		162,681
2.625% due 08/15/24		30,000		29,094
2.700% due 08/21/40		65,000		46,552
2.875% due 06/01/26		100,000		95,076
3.000% due 08/15/26		35,000		33,416
3.250% due 08/15/29		65,000		59,473
3.750% due 04/01/30		100,000		93,631
3.875% due 07/20/25		200,000		196,499
4.100% due 03/25/25		37,000		36,702
4.125% due 04/01/40		300,000		258,290
4.250% due 04/01/50		200,000		167,346
4.300% due 03/25/28		72,000		70,749
4.780% due 03/25/38		95,000		90,629
5.125% due 07/20/45		105,000		99,700
5.250% due 02/21/33		500,000		510,501
5.300% due 12/05/43		200,000		197,051
Danaher Corp.
2.600% due 10/01/50		125,000		85,629
2.800% due 12/10/51		100,000		69,902
3.350% due 09/15/25		30,000		29,377
4.375% due 09/15/45		30,000		28,008
Diageo Capital PLC (United Kingdom)
2.000% due 04/29/30		350,000		298,393
3.875% due 04/29/43		100,000		87,243
Dignity Health 5.267% due 11/01/64		100,000		93,382
Elevance Health, Inc.
2.550% due 03/15/31		100,000		86,117
3.350% due 12/01/24		400,000		390,718
3.600% due 03/15/51		30,000		23,399
3.650% due 12/01/27		30,000		29,006
4.375% due 12/01/47		30,000		26,741
4.625% due 05/15/42		100,000		93,449
4.650% due 01/15/43		50,000		46,789
4.750% due 02/15/33		100,000		100,571
5.500% due 10/15/32		200,000		210,525
Eli Lilly & Co.
2.250% due 05/15/50		200,000		132,482
3.375% due 03/15/29		27,000		25,856
4.700% due 02/27/33		125,000		128,227
4.950% due 02/27/63		250,000		257,524

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

197

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Equifax, Inc.
2.350% due 09/15/31		$150,000		$120,908
2.600% due 12/01/24		25,000		23,900
Estee Lauder Cos., Inc.
1.950% due 03/15/31		45,000		37,800
2.000% due 12/01/24		10,000		9,653
2.375% due 12/01/29		10,000		8,851
3.125% due 12/01/49		15,000		11,520
3.150% due 03/15/27		50,000		48,390
4.150% due 03/15/47		30,000		27,261
Flowers Foods, Inc. 2.400% due 03/15/31		45,000		37,611
GE HealthCare Technologies, Inc. 5.857% due 03/15/30 ~		500,000		523,418
General Mills, Inc.
2.250% due 10/14/31		50,000		41,597
3.000% due 02/01/51		60,000		43,841
3.200% due 02/10/27		100,000		96,209
4.200% due 04/17/28		50,000		49,487
4.950% due 03/29/33		70,000		71,123
5.241% due 11/18/25		30,000		30,096
George Washington University 4.300% due 09/15/44		50,000		46,017
Georgetown University 2.943% due 04/01/50		25,000		17,090
Gilead Sciences, Inc.
1.200% due 10/01/27		45,000		39,330
1.650% due 10/01/30		40,000		32,947
2.600% due 10/01/40		450,000		332,214
2.800% due 10/01/50		100,000		69,133
2.950% due 03/01/27		100,000		95,221
3.650% due 03/01/26		100,000		97,941
4.150% due 03/01/47		75,000		66,012
4.600% due 09/01/35		45,000		44,598
4.750% due 03/01/46		50,000		48,120
GlaxoSmithKline Capital PLC (United Kingdom) 3.375% due 06/01/29		250,000		237,509
GlaxoSmithKline Capital, Inc. (United Kingdom)
3.625% due 05/15/25		85,000		83,820
6.375% due 05/15/38		100,000		118,049
Global Payments, Inc. 5.400% due 08/15/32		200,000		196,266
Hackensack Meridian Health, Inc. 4.500% due 07/01/57		100,000		92,060
Haleon UK Capital PLC 3.125% due 03/24/25		350,000		338,474
Haleon US Capital LLC
3.375% due 03/24/27		250,000		237,206
3.625% due 03/24/32		250,000		227,188
HCA, Inc.
3.125% due 03/15/27 ~		45,000		41,864
3.500% due 07/15/51		350,000		242,155
3.625% due 03/15/32 ~		600,000		529,474
4.125% due 06/15/29		35,000		32,821
4.500% due 02/15/27		60,000		58,639
4.625% due 03/15/52 ~		25,000		20,796
5.125% due 06/15/39		50,000		46,781
5.250% due 04/15/25		70,000		70,000
5.250% due 06/15/26		75,000		75,111
5.250% due 06/15/49		100,000		90,333
5.500% due 06/15/47		75,000		70,518
Hershey Co. 2.300% due 08/15/26		50,000		47,401
Hormel Foods Corp.
0.650% due 06/03/24		20,000		19,016
1.700% due 06/03/28		35,000		30,890
3.050% due 06/03/51		25,000		18,274
Humana, Inc.
3.700% due 03/23/29		85,000		80,063

	Principal Amount		Value
3.850% due 10/01/24		$100,000		$98,351
4.625% due 12/01/42		100,000		90,426
5.700% due 03/13/26		75,000		75,309
Ingredion, Inc. 3.200% due 10/01/26		100,000		95,360
J M Smucker Co.
2.375% due 03/15/30		65,000		56,103
2.750% due 09/15/41		100,000		73,283
3.550% due 03/15/50		50,000		37,611
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. 5.750% due 04/01/33 ~		500,000		478,750
Johns Hopkins Health System Corp. 3.837% due 05/15/46		50,000		42,358
Johns Hopkins University 4.705% due 07/01/32		30,000		30,540
Johnson & Johnson
0.550% due 09/01/25		400,000		367,961
1.300% due 09/01/30		70,000		58,628
2.100% due 09/01/40		65,000		47,207
2.250% due 09/01/50		100,000		67,515
2.450% due 03/01/26		50,000		48,067
3.400% due 01/15/38		50,000		44,973
3.500% due 01/15/48		65,000		56,798
3.550% due 03/01/36		25,000		23,200
3.625% due 03/03/37		132,000		122,175
3.700% due 03/01/46		25,000		22,438
3.750% due 03/03/47		50,000		45,095
4.850% due 05/15/41		50,000		51,309
5.950% due 08/15/37		100,000		116,729
Kaiser Foundation Hospitals
2.810% due 06/01/41		65,000		47,656
3.002% due 06/01/51		70,000		49,342
3.150% due 05/01/27		225,000		212,053
4.150% due 05/01/47		20,000		17,679
Kellogg Co.
3.400% due 11/15/27		100,000		95,317
4.300% due 05/15/28		100,000		98,778
Kenvue, Inc.
5.050% due 03/22/28 ~		200,000		206,806
5.050% due 03/22/53 ~		200,000		206,291
Keurig Dr Pepper, Inc.
2.550% due 09/15/26		50,000		46,412
3.430% due 06/15/27		35,000		33,438
4.420% due 12/15/46		250,000		219,488
Kimberly-Clark Corp.
1.050% due 09/15/27		25,000		21,905
2.000% due 11/02/31		100,000		84,362
3.050% due 08/15/25		50,000		48,353
3.950% due 11/01/28		10,000		9,903
6.625% due 08/01/37		100,000		121,956
Kraft Heinz Foods Co.
3.875% due 05/15/27		250,000		244,296
4.375% due 06/01/46		500,000		436,043
Kroger Co.
3.500% due 02/01/26		50,000		48,779
3.950% due 01/15/50		100,000		81,802
4.650% due 01/15/48		100,000		89,647
5.150% due 08/01/43		25,000		23,681
Laboratory Corp. of America Holdings
1.550% due 06/01/26		70,000		62,717
2.700% due 06/01/31		100,000		86,060
3.600% due 09/01/27		100,000		95,219
4.700% due 02/01/45		50,000		44,670
Leland Stanford Junior University 3.647% due 05/01/48		125,000		107,453
Mass General Brigham, Inc. 3.342% due 07/01/60		30,000		21,521
Massachusetts Institute of Technology
3.067% due 04/01/52		100,000		78,125
5.600% due 07/01/11		100,000		111,895

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

198

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Mayo Clinic 3.196% due 11/15/61		$100,000		$70,626
McCormick & Co., Inc.
0.900% due 02/15/26		95,000		85,174
3.400% due 08/15/27		50,000		47,451
McKesson Corp. 1.300% due 08/15/26		165,000		147,914
Mead Johnson Nutrition Co. (United Kingdom) 4.600% due 06/01/44		200,000		185,868
Medtronic Global Holdings SCA 4.500% due 03/30/33		200,000		200,264
Medtronic, Inc. 4.625% due 03/15/45		65,000		63,888
Memorial Sloan-Kettering Cancer Center 2.955% due 01/01/50		55,000		38,979
Merck & Co., Inc.
0.750% due 02/24/26		350,000		320,659
1.700% due 06/10/27		50,000		45,452
2.150% due 12/10/31		50,000		42,358
3.400% due 03/07/29		200,000		192,405
3.600% due 09/15/42		300,000		258,542
4.150% due 05/18/43		100,000		93,704
Molson Coors Beverage Co.
4.200% due 07/15/46		40,000		32,753
5.000% due 05/01/42		100,000		94,518
Mondelez International, Inc.
1.500% due 02/04/31		40,000		31,930
1.875% due 10/15/32		300,000		240,567
2.625% due 09/04/50		25,000		16,798
Moody’s Corp.
2.000% due 08/19/31		100,000		81,655
2.750% due 08/19/41		100,000		72,193
4.875% due 12/17/48		50,000		46,658
Mount Sinai Hospitals Group, Inc. 3.981% due 07/01/48		50,000		41,643
New York & Presbyterian Hospital 3.954% due 08/01/19		35,000		25,587
Northwell Healthcare, Inc. 3.809% due 11/01/49		100,000		78,467
Northwestern University 3.662% due 12/01/57		25,000		20,218
Novartis Capital Corp. (Switzerland)
3.000% due 11/20/25		100,000		96,903
3.100% due 05/17/27		30,000		28,885
3.400% due 05/06/24		150,000		148,128
4.000% due 11/20/45		100,000		92,251
NYU Langone Hospitals 4.368% due 07/01/47		25,000		22,001
OhioHealth Corp. 2.297% due 11/15/31		100,000		83,630
PayPal Holdings, Inc.
1.650% due 06/01/25		315,000		295,833
2.300% due 06/01/30		55,000		47,120
3.250% due 06/01/50		65,000		47,562
4.400% due 06/01/32		100,000		97,884
5.050% due 06/01/52		100,000		96,296
PeaceHealth Obligated Group 1.375% due 11/15/25		15,000		13,661
PepsiCo, Inc.
1.625% due 05/01/30		60,000		50,806
1.950% due 10/21/31		75,000		63,370
2.375% due 10/06/26		55,000		51,915
2.750% due 04/30/25		100,000		96,897
2.750% due 03/19/30		500,000		457,567
2.750% due 10/21/51		500,000		368,112
3.450% due 10/06/46		60,000		51,493
3.500% due 07/17/25		50,000		49,327
4.200% due 07/18/52		55,000		52,581
PerkinElmer, Inc.
2.550% due 03/15/31		85,000		70,475
3.300% due 09/15/29		30,000		26,795

	Principal Amount		Value
Pfizer, Inc.
0.800% due 05/28/25		$30,000		$27,840
1.700% due 05/28/30		350,000		294,842
1.750% due 08/18/31		100,000		82,546
2.550% due 05/28/40		25,000		18,807
2.625% due 04/01/30		250,000		225,800
2.700% due 05/28/50		25,000		17,891
3.000% due 12/15/26		100,000		96,359
3.400% due 05/15/24		150,000		148,018
3.600% due 09/15/28		100,000		98,023
3.900% due 03/15/39		25,000		22,738
4.100% due 09/15/38		50,000		47,050
4.200% due 09/15/48		35,000		32,493
Philip Morris International, Inc.
0.875% due 05/01/26		100,000		89,727
1.750% due 11/01/30		100,000		80,418
3.250% due 11/10/24		125,000		122,162
3.375% due 08/11/25		50,000		48,455
4.250% due 11/10/44		30,000		25,013
4.500% due 03/20/42		200,000		174,156
4.875% due 02/13/26		400,000		403,175
4.875% due 02/15/28		100,000		100,993
5.125% due 02/15/30		100,000		101,319
5.375% due 02/15/33		100,000		102,232
6.375% due 05/16/38		100,000		109,454
President & Fellows of Harvard College 4.875% due 10/15/40		100,000		104,791
Procter & Gamble Co.
0.550% due 10/29/25		50,000		45,832
1.000% due 04/23/26		250,000		228,889
1.200% due 10/29/30		50,000		40,885
3.000% due 03/25/30		300,000		281,530
3.950% due 01/26/28		100,000		100,513
Providence St Joseph Health Obligated Group
2.700% due 10/01/51		75,000		45,685
3.930% due 10/01/48		35,000		27,579
Quanta Services, Inc.
0.950% due 10/01/24		15,000		13,998
2.350% due 01/15/32		25,000		19,863
3.050% due 10/01/41		30,000		20,967
Quest Diagnostics, Inc.
2.800% due 06/30/31		70,000		61,249
2.950% due 06/30/30		55,000		49,258
RELX Capital, Inc. (United Kingdom) 4.000% due 03/18/29		100,000		96,484
Reynolds American, Inc. (United Kingdom) 6.150% due 09/15/43		300,000		284,555
Royalty Pharma PLC
2.150% due 09/02/31		55,000		43,500
3.300% due 09/02/40		300,000		217,723
3.350% due 09/02/51		60,000		39,598
RWJ Barnabas Health, Inc. 3.477% due 07/01/49		25,000		19,691
S&P Global, Inc.
2.450% due 03/01/27		250,000		234,620
2.700% due 03/01/29		200,000		182,044
3.900% due 03/01/62		250,000		208,016
Shire Acquisitions Investments Ireland DAC 3.200% due 09/23/26		250,000		238,004
Smith & Nephew PLC (United Kingdom) 2.032% due 10/14/30		250,000		202,884
Stanford Health Care 3.027% due 08/15/51		30,000		21,430
Stryker Corp.
1.150% due 06/15/25		250,000		231,068
4.100% due 04/01/43		100,000		87,023
Sutter Health
2.294% due 08/15/30		55,000		46,173
3.361% due 08/15/50		55,000		40,272
Sysco Corp.
2.450% due 12/14/31		105,000		87,548
3.150% due 12/14/51		125,000		87,534

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

199

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
3.250% due 07/15/27		$50,000		$47,395
3.750% due 10/01/25		25,000		24,348
4.450% due 03/15/48		50,000		43,436
4.500% due 04/01/46		25,000		21,706
4.850% due 10/01/45		15,000		13,725
Takeda Pharmaceutical Co. Ltd. (Japan)
3.175% due 07/09/50		250,000		178,902
5.000% due 11/26/28		100,000		101,123
Thermo Fisher Scientific, Inc.
1.215% due 10/18/24		250,000		237,383
1.750% due 10/15/28		20,000		17,587
2.000% due 10/15/31		35,000		29,201
2.800% due 10/15/41		320,000		243,828
5.300% due 02/01/44		100,000		104,822
Toledo Hospital 5.750% due 11/15/38		50,000		48,936
Trustees of Princeton University 5.700% due 03/01/39		50,000		55,913
Tyson Foods, Inc.
3.550% due 06/02/27		350,000		334,011
4.000% due 03/01/26		15,000		14,740
4.350% due 03/01/29		20,000		19,433
5.100% due 09/28/48		10,000		9,438
Unilever Capital Corp. (United Kingdom)
1.750% due 08/12/31		140,000		115,121
5.900% due 11/15/32		50,000		56,058
UnitedHealth Group, Inc.
0.550% due 05/15/24		35,000		33,393
1.150% due 05/15/26		50,000		45,496
2.000% due 05/15/30		405,000		346,442
2.300% due 05/15/31		50,000		42,870
2.375% due 08/15/24		70,000		67,806
2.875% due 08/15/29		75,000		68,781
2.900% due 05/15/50		300,000		212,863
3.050% due 05/15/41		50,000		39,462
3.250% due 05/15/51		50,000		37,637
3.500% due 08/15/39		60,000		51,127
3.700% due 12/15/25		20,000		19,588
3.700% due 08/15/49		65,000		53,140
3.750% due 07/15/25		75,000		74,126
3.850% due 06/15/28		100,000		97,810
3.875% due 12/15/28		25,000		24,517
3.875% due 08/15/59		100,000		81,971
4.200% due 05/15/32		65,000		63,750
4.250% due 06/15/48		50,000		45,078
4.450% due 12/15/48		25,000		23,199
4.500% due 04/15/33		150,000		149,204
4.750% due 07/15/45		50,000		49,056
5.050% due 04/15/53		150,000		151,820
5.150% due 10/15/25		25,000		25,488
5.250% due 02/15/28		70,000		72,842
5.350% due 02/15/33		100,000		106,373
5.875% due 02/15/53		530,000		596,659
6.875% due 02/15/38		250,000		302,004
University of Chicago 2.761% due 04/01/45		10,000		7,829
University of Notre Dame du Lac 3.394% due 02/15/48		50,000		41,596
University of Southern California
2.805% due 10/01/50		50,000		35,193
3.028% due 10/01/39		50,000		41,349
Utah Acquisition Sub, Inc. 3.950% due 06/15/26		100,000		95,319
Verisk Analytics, Inc. 5.750% due 04/01/33		115,000		120,823
Viatris, Inc. 3.850% due 06/22/40		400,000		281,102
Wyeth LLC
5.950% due 04/01/37		50,000		56,184
6.500% due 02/01/34		100,000		115,091
Zimmer Biomet Holdings, Inc. 2.600% due 11/24/31		100,000		83,593

	Principal Amount		Value
Zoetis, Inc. 5.600% due 11/16/32		$135,000		$144,070
				52,072,358
Energy - 1.7%
Baker Hughes Holdings LLC/Baker Hughes Co.-Obligor, Inc.
3.337% due 12/15/27		100,000		93,756
4.080% due 12/15/47		50,000		40,699
5.125% due 09/15/40		50,000		48,600
Boardwalk Pipelines LP 4.950% due 12/15/24		100,000		99,441
BP Capital Markets America, Inc.
1.749% due 08/10/30		130,000		107,638
2.772% due 11/10/50		130,000		88,173
3.000% due 02/24/50		150,000		106,396
3.001% due 03/17/52		50,000		35,319
3.119% due 05/04/26		25,000		24,071
3.588% due 04/14/27		100,000		96,856
4.234% due 11/06/28		400,000		396,751
4.812% due 02/13/33		535,000		543,429
Canadian Natural Resources Ltd. (Canada)
2.050% due 07/15/25		300,000		280,476
3.800% due 04/15/24		43,000		42,297
3.850% due 06/01/27		50,000		47,924
4.950% due 06/01/47		25,000		22,623
6.750% due 02/01/39		90,000		95,817
Cenovus Energy, Inc. (Canada)
2.650% due 01/15/32		65,000		53,693
3.750% due 02/15/52		225,000		164,165
Cheniere Corpus Christi Holdings LLC
3.700% due 11/15/29		60,000		55,312
5.125% due 06/30/27		300,000		300,398
Chevron Corp.
1.554% due 05/11/25		35,000		33,020
1.995% due 05/11/27		350,000		320,751
2.236% due 05/11/30		25,000		22,115
2.954% due 05/16/26		100,000		96,349
3.326% due 11/17/25		50,000		49,073
Chevron USA, Inc. 3.850% due 01/15/28		50,000		49,388
ConocoPhillips Co.
3.758% due 03/15/42		250,000		212,993
4.025% due 03/15/62		200,000		164,318
6.950% due 04/15/29		100,000		112,693
Devon Energy Corp.
5.000% due 06/15/45		105,000		93,476
5.850% due 12/15/25		50,000		50,833
Diamondback Energy, Inc.
3.125% due 03/24/31		500,000		433,900
3.500% due 12/01/29		100,000		91,492
4.250% due 03/15/52		60,000		47,174
6.250% due 03/15/33		300,000		317,225
Enbridge Energy Partners LP 7.500% due 04/15/38		50,000		58,263
Enbridge, Inc. (Canada)
1.600% due 10/04/26		55,000		49,385
2.500% due 01/15/25		50,000		47,931
2.500% due 08/01/33		400,000		322,660
3.400% due 08/01/51		70,000		49,446
3.700% due 07/15/27		100,000		95,264
4.500% due 06/10/44		150,000		127,589
Energy Transfer LP
2.900% due 05/15/25		40,000		38,140
3.750% due 05/15/30		310,000		286,345
3.900% due 07/15/26		100,000		96,244
4.050% due 03/15/25		100,000		98,128
4.200% due 04/15/27		100,000		95,933
4.400% due 03/15/27		200,000		194,473
5.000% due 05/15/50		350,000		299,280
5.250% due 04/15/29		25,000		24,928
5.300% due 04/15/47		100,000		87,811

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

200

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
5.750% due 02/15/33		$350,000		$358,838
5.950% due 10/01/43		100,000		95,868
6.125% due 12/15/45		200,000		193,709
6.500% due 02/01/42		100,000		103,895
Enterprise Products Operating LLC
3.125% due 07/31/29		100,000		91,687
4.150% due 10/16/28		50,000		48,640
4.200% due 01/31/50		450,000		382,277
4.250% due 02/15/48		25,000		21,328
4.800% due 02/01/49		50,000		45,925
5.350% due 01/31/33		100,000		103,690
5.375% due 02/15/78		300,000		241,557
6.125% due 10/15/39		115,000		124,978
6.875% due 03/01/33		150,000		171,326
Equinor ASA (Norway)
2.375% due 05/22/30		125,000		110,457
3.250% due 11/18/49		200,000		154,475
3.950% due 05/15/43		300,000		265,009
Exxon Mobil Corp.
2.019% due 08/16/24		50,000		48,310
2.440% due 08/16/29		50,000		45,771
2.610% due 10/15/30		250,000		224,788
2.992% due 03/19/25		500,000		487,054
2.995% due 08/16/39		50,000		40,485
3.043% due 03/01/26		150,000		145,675
3.452% due 04/15/51		200,000		159,531
4.114% due 03/01/46		65,000		58,700
4.327% due 03/19/50		300,000		277,444
Halliburton Co.
3.800% due 11/15/25		6,000		5,882
4.850% due 11/15/35		50,000		48,102
5.000% due 11/15/45		342,000		311,668
7.450% due 09/15/39		25,000		29,016
Hess Corp.
4.300% due 04/01/27		50,000		48,847
5.600% due 02/15/41		50,000		48,271
5.800% due 04/01/47		50,000		49,072
7.125% due 03/15/33		50,000		55,468
Kinder Morgan, Inc.
2.000% due 02/15/31		210,000		169,668
3.250% due 08/01/50		220,000		146,233
4.300% due 03/01/28		300,000		294,983
4.800% due 02/01/33		100,000		96,551
5.300% due 12/01/34		70,000		68,777
5.550% due 06/01/45		350,000		331,642
Magellan Midstream Partners LP
4.200% due 10/03/47		50,000		40,067
4.250% due 09/15/46		70,000		55,810
5.000% due 03/01/26		50,000		50,452
Marathon Oil Corp.
4.400% due 07/15/27		100,000		96,955
5.200% due 06/01/45		50,000		43,572
Marathon Petroleum Corp.
3.800% due 04/01/28		30,000		28,631
4.500% due 04/01/48		25,000		20,522
5.125% due 12/15/26		50,000		50,498
6.500% due 03/01/41		100,000		106,865
MPLX LP
2.650% due 08/15/30		45,000		38,188
4.250% due 12/01/27		250,000		242,261
4.500% due 04/15/38		30,000		26,693
4.700% due 04/15/48		45,000		37,859
4.875% due 12/01/24		250,000		248,551
4.900% due 04/15/58		15,000		12,520
4.950% due 03/14/52		200,000		174,199
5.650% due 03/01/53		75,000		72,285
NOV, Inc. 3.950% due 12/01/42		100,000		74,256
ONEOK, Inc.
2.200% due 09/15/25		25,000		23,185
3.100% due 03/15/30		25,000		21,869
4.000% due 07/13/27		130,000		124,283

	Principal Amount		Value
4.350% due 03/15/29		$100,000		$94,660
4.500% due 03/15/50		25,000		19,409
4.550% due 07/15/28		50,000		48,414
4.950% due 07/13/47		50,000		41,983
5.200% due 07/15/48		25,000		21,649
Phillips 66
1.300% due 02/15/26		20,000		18,122
3.300% due 03/15/52		100,000		70,874
4.650% due 11/15/34		200,000		191,991
4.950% due 12/01/27		250,000		251,231
Phillips 66 Co.
3.550% due 10/01/26 ~		50,000		47,734
4.900% due 10/01/46 ~		25,000		22,908
Pioneer Natural Resources Co. 2.150% due 01/15/31		385,000		316,426
Plains All American Pipeline LP/PAA Finance Corp.
4.500% due 12/15/26		150,000		146,703
4.650% due 10/15/25		100,000		98,968
4.700% due 06/15/44		50,000		39,358
Sabine Pass Liquefaction LLC
4.500% due 05/15/30		205,000		197,842
5.625% due 03/01/25		165,000		166,114
Schlumberger Investment SA 2.650% due 06/26/30		100,000		88,456
Shell International Finance BV (Netherlands)
2.500% due 09/12/26		50,000		47,106
2.750% due 04/06/30		85,000		77,570
2.875% due 05/10/26		100,000		95,729
2.875% due 11/26/41		200,000		153,773
3.000% due 11/26/51		200,000		144,379
3.250% due 05/11/25		100,000		97,789
3.250% due 04/06/50		100,000		76,399
3.625% due 08/21/42		100,000		84,282
3.750% due 09/12/46		50,000		42,297
4.000% due 05/10/46		100,000		87,525
4.125% due 05/11/35		263,000		252,230
Spectra Energy Partners LP 3.375% due 10/15/26		20,000		18,962
Suncor Energy, Inc. (Canada)
4.000% due 11/15/47		70,000		56,098
6.800% due 05/15/38		200,000		220,035
Targa Resources Corp.
5.200% due 07/01/27		85,000		84,349
6.125% due 03/15/33		70,000		72,526
6.250% due 07/01/52		200,000		197,564
TC PipeLines LP 3.900% due 05/25/27		20,000		19,329
TotalEnergies Capital International SA (France)
2.434% due 01/10/25		50,000		48,359
2.829% due 01/10/30		50,000		45,643
3.127% due 05/29/50		100,000		74,260
3.461% due 07/12/49		50,000		39,694
TotalEnergies Capital SA (France) 3.883% due 10/11/28		25,000		24,647
TransCanada PipeLines Ltd. (Canada)
1.000% due 10/12/24		420,000		393,994
4.100% due 04/15/30		200,000		187,729
4.250% due 05/15/28		50,000		48,554
5.100% due 03/15/49		50,000		46,552
7.625% due 01/15/39		50,000		59,477
Transcontinental Gas Pipe Line Co. LLC
3.250% due 05/15/30		25,000		22,656
4.000% due 03/15/28		50,000		47,877
4.450% due 08/01/42		150,000		132,059
Valero Energy Corp.
2.150% due 09/15/27		100,000		90,360
2.800% due 12/01/31		100,000		84,152
6.625% due 06/15/37		150,000		164,230
Western Midstream Operating LP
4.300% due 02/01/30		200,000		182,250
6.150% due 04/01/33		40,000		40,592

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

201

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Williams Cos., Inc.
2.600% due 03/15/31		$350,000		$294,570
3.750% due 06/15/27		50,000		48,011
4.550% due 06/24/24		85,000		84,405
5.100% due 09/15/45		100,000		91,653
5.300% due 08/15/52		250,000		236,391
5.400% due 03/02/26		70,000		71,356
5.750% due 06/24/44		35,000		34,297
6.300% due 04/15/40		20,000		21,079
				20,431,203
Financial - 9.6%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
1.650% due 10/29/24		150,000		140,416
1.750% due 10/29/24		150,000		139,855
2.450% due 10/29/26		150,000		134,813
3.300% due 01/30/32		150,000		124,379
3.875% due 01/23/28		150,000		138,531
6.500% due 07/15/25		250,000		252,012
Affiliated Managers Group, Inc. 3.500% due 08/01/25		50,000		48,240
African Development Bank (Ivory Coast)
0.875% due 03/23/26		400,000		366,083
0.875% due 07/22/26		116,000		104,872
Air Lease Corp.
0.800% due 08/18/24		40,000		37,329
2.100% due 09/01/28		300,000		250,276
2.300% due 02/01/25		100,000		94,728
3.000% due 02/01/30		100,000		85,651
3.250% due 03/01/25		100,000		96,137
5.300% due 02/01/28		300,000		296,323
Aircastle Ltd. 4.125% due 05/01/24		30,000		29,387
Alexandria Real Estate Equities, Inc. REIT
2.750% due 12/15/29		50,000		42,996
2.950% due 03/15/34		40,000		32,051
3.375% due 08/15/31		60,000		53,284
3.550% due 03/15/52		70,000		48,923
3.950% due 01/15/27		25,000		24,128
4.000% due 02/01/50		100,000		76,168
4.500% due 07/30/29		20,000		19,390
4.750% due 04/15/35		20,000		18,764
Allstate Corp. 3.280% due 12/15/26		350,000		332,487
Ally Financial, Inc. 5.800% due 05/01/25		200,000		193,271
American Express Co.
2.500% due 07/30/24		35,000		33,814
3.000% due 10/30/24		50,000		48,439
3.300% due 05/03/27		415,000		394,503
3.375% due 05/03/24		55,000		53,936
3.950% due 08/01/25		250,000		245,303
4.050% due 12/03/42		125,000		115,767
5.850% due 11/05/27		60,000		62,997
American Financial Group, Inc. 4.500% due 06/15/47		50,000		42,211
American Homes 4 Rent LP REIT 3.625% due 04/15/32		70,000		60,713
American International Group, Inc.
4.375% due 06/30/50		100,000		85,565
4.800% due 07/10/45		50,000		45,497
5.125% due 03/27/33		165,000		164,111
American Tower Corp. REIT
1.875% due 10/15/30		200,000		158,749
2.300% due 09/15/31		350,000		280,842
2.900% due 01/15/30		50,000		43,514
2.950% due 01/15/25		100,000		96,320
3.100% due 06/15/50		50,000		32,882
3.375% due 10/15/26		100,000		94,812
3.600% due 01/15/28		100,000		93,885
Ameriprise Financial, Inc. 5.150% due 05/15/33		60,000		59,881

	Principal Amount		Value
Aon Corp./Aon Global Holdings PLC
2.050% due 08/23/31		$100,000		$80,857
2.900% due 08/23/51		100,000		66,873
4.500% due 12/15/28		200,000		196,207
Arch Capital Group Ltd. 3.635% due 06/30/50		200,000		149,740
Arch Capital Group US, Inc. 5.144% due 11/01/43		200,000		188,137
Ares Capital Corp.
2.150% due 07/15/26		350,000		300,567
3.250% due 07/15/25		50,000		45,727
Arthur J Gallagher & Co. 5.500% due 03/02/33		265,000		271,009
Asian Development Bank (Multi-National)
0.375% due 06/11/24		180,000		171,522
0.500% due 02/04/26		400,000		363,842
0.625% due 04/29/25		500,000		465,828
1.000% due 04/14/26		200,000		183,607
1.250% due 06/09/28		50,000		44,244
1.500% due 10/18/24		150,000		143,757
1.750% due 08/14/26		250,000		233,793
2.625% due 01/12/27		200,000		191,925
2.750% due 01/19/28		100,000		95,892
2.875% due 05/06/25		225,000		219,464
3.125% due 09/26/28		200,000		193,840
3.875% due 09/28/32		120,000		121,857
4.000% due 01/12/33		85,000		87,098
4.125% due 09/27/24		250,000		248,864
Asian Infrastructure Investment Bank (Multi-National)
0.500% due 05/28/25		150,000		138,722
2.250% due 05/16/24		250,000		243,679
3.375% due 06/29/25		200,000		196,519
4.000% due 01/18/28		100,000		100,404
Assurant, Inc. 4.900% due 03/27/28		100,000		98,396
Assured Guaranty US Holdings, Inc. 3.150% due 06/15/31		70,000		60,093
Athene Holding Ltd.
3.450% due 05/15/52		100,000		63,399
3.500% due 01/15/31		20,000		16,646
6.650% due 02/01/33		100,000		101,651
AvalonBay Communities, Inc. REIT
2.050% due 01/15/32		200,000		162,026
2.450% due 01/15/31		105,000		88,569
3.350% due 05/15/27		25,000		23,586
4.150% due 07/01/47		50,000		41,456
AXA SA (France) 8.600% due 12/15/30		75,000		90,372
Banco Bilbao Vizcaya Argentaria SA (Spain) 6.138% due 09/14/28		200,000		203,411
Banco Santander SA (Spain)
1.722% due 09/14/27		200,000		174,786
2.706% due 06/27/24		200,000		193,246
2.749% due 12/03/30		200,000		156,235
3.892% due 05/24/24		200,000		195,664
5.294% due 08/18/27		200,000		197,009
Bank of America Corp.
1.197% due 10/24/26		100,000		89,891
1.319% due 06/19/26		500,000		457,426
1.530% due 12/06/25		200,000		187,135
1.658% due 03/11/27		350,000		317,145
1.734% due 07/22/27		410,000		367,987
1.922% due 10/24/31		100,000		79,822
2.015% due 02/13/26		100,000		93,770
2.299% due 07/21/32		100,000		80,665
2.456% due 10/22/25		50,000		47,632
2.482% due 09/21/36		200,000		152,028
2.496% due 02/13/31		100,000		84,768
2.572% due 10/20/32		100,000		81,801
2.592% due 04/29/31		500,000		423,725
2.651% due 03/11/32		100,000		83,552
2.676% due 06/19/41		350,000		247,902

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

202

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
2.831% due 10/24/51		$25,000		$16,361
2.884% due 10/22/30		50,000		43,532
2.972% due 02/04/33		350,000		294,966
2.972% due 07/21/52		100,000		67,519
3.248% due 10/21/27		150,000		141,440
3.311% due 04/22/42		400,000		310,180
3.366% due 01/23/26		100,000		96,250
3.384% due 04/02/26		100,000		95,948
3.419% due 12/20/28		169,000		157,154
3.483% due 03/13/52		100,000		75,415
3.500% due 04/19/26		150,000		144,304
3.593% due 07/21/28		100,000		94,052
3.824% due 01/20/28		300,000		286,914
3.846% due 03/08/37		400,000		341,399
3.875% due 08/01/25		100,000		97,808
3.946% due 01/23/49		100,000		81,343
3.950% due 04/21/25		200,000		193,655
3.970% due 03/05/29		100,000		94,791
4.078% due 04/23/40		200,000		174,352
4.083% due 03/20/51		350,000		288,155
4.183% due 11/25/27		100,000		96,723
4.450% due 03/03/26		85,000		83,083
4.750% due 04/21/45		85,000		78,949
5.015% due 07/22/33		250,000		247,442
5.080% due 01/20/27		800,000		798,111
6.110% due 01/29/37		250,000		263,459
6.204% due 11/10/28		65,000		68,008
7.750% due 05/14/38		200,000		239,804
Bank of Montreal (Canada)
0.949% due 01/22/27		100,000		89,393
3.700% due 06/07/25		165,000		160,374
5.200% due 12/12/24		225,000		225,389
5.203% due 02/01/28		300,000		302,621
Bank of New York Mellon Corp.
0.500% due 04/26/24		250,000		237,906
1.600% due 04/24/25		300,000		279,029
2.800% due 05/04/26		50,000		47,047
3.000% due 10/30/28		55,000		49,765
3.350% due 04/25/25		100,000		96,382
3.400% due 05/15/24		100,000		98,341
4.706% due 02/01/34		130,000		128,789
5.802% due 10/25/28		500,000		521,347
Bank of Nova Scotia (Canada)
0.650% due 07/31/24		70,000		66,015
0.700% due 04/15/24		85,000		81,104
1.300% due 06/11/25		100,000		92,254
1.300% due 09/15/26		50,000		44,154
2.450% due 02/02/32		100,000		82,508
3.450% due 04/11/25		60,000		58,225
4.588% due 05/04/37		40,000		35,293
4.750% due 02/02/26		240,000		239,086
5.250% due 12/06/24		335,000		335,927
Barclays PLC (United Kingdom)
2.645% due 06/24/31		200,000		160,897
2.894% due 11/24/32		200,000		160,522
3.330% due 11/24/42		200,000		143,975
4.337% due 01/10/28		300,000		285,946
4.375% due 01/12/26		200,000		193,232
4.950% due 01/10/47		200,000		178,109
7.385% due 11/02/28		200,000		212,169
Berkshire Hathaway Finance Corp.
1.450% due 10/15/30		80,000		65,728
2.500% due 01/15/51		410,000		264,522
2.850% due 10/15/50		90,000		63,623
3.850% due 03/15/52		200,000		167,844
4.300% due 05/15/43		200,000		185,052
5.750% due 01/15/40		25,000		27,662
BlackRock, Inc.
1.900% due 01/28/31		15,000		12,469
2.100% due 02/25/32		100,000		83,190
2.400% due 04/30/30		45,000		39,517
3.200% due 03/15/27		56,000		53,780

	Principal Amount		Value
3.250% due 04/30/29		$60,000		$57,090
Blackstone Private Credit Fund
2.625% due 12/15/26		100,000		84,116
3.250% due 03/15/27		150,000		127,606
7.050% due 09/29/25 ~		50,000		49,365
Blackstone Secured Lending Fund 2.750% due 09/16/26		100,000		86,645
Boston Properties LP REIT
2.450% due 10/01/33		50,000		33,697
2.550% due 04/01/32		250,000		178,480
3.250% due 01/30/31		150,000		118,825
Brandywine Operating Partnership LP REIT 4.550% due 10/01/29		50,000		36,864
Brighthouse Financial, Inc.
3.700% due 06/22/27		100,000		91,989
4.700% due 06/22/47		50,000		36,610
Brixmor Operating Partnership LP REIT
2.500% due 08/16/31		50,000		38,681
4.050% due 07/01/30		10,000		9,043
4.125% due 06/15/26		50,000		47,435
Brookfield Finance, Inc. (Canada)
3.500% due 03/30/51		50,000		33,376
4.000% due 04/01/24		50,000		49,010
4.700% due 09/20/47		50,000		43,260
4.850% due 03/29/29		100,000		96,389
Brown & Brown, Inc.
4.200% due 03/17/32		35,000		31,500
4.500% due 03/15/29		50,000		48,284
4.950% due 03/17/52		200,000		171,375
Camden Property Trust REIT
3.150% due 07/01/29		30,000		26,705
4.100% due 10/15/28		20,000		19,333
Canadian Imperial Bank of Commerce (Canada)
0.950% due 10/23/25		20,000		18,116
1.250% due 06/22/26		100,000		88,954
3.100% due 04/02/24		150,000		146,574
3.600% due 04/07/32		45,000		40,997
Capital One Financial Corp.
1.878% due 11/02/27		100,000		86,204
2.618% due 11/02/32		100,000		76,289
3.200% due 02/05/25		200,000		188,110
3.300% due 10/30/24		100,000		95,530
3.750% due 07/28/26		250,000		227,572
3.750% due 03/09/27		50,000		45,545
3.800% due 01/31/28		200,000		183,631
4.927% due 05/10/28		100,000		96,165
4.985% due 07/24/26		100,000		96,477
5.468% due 02/01/29		65,000		63,407
CBRE Services, Inc. 4.875% due 03/01/26		100,000		98,539
Charles Schwab Corp.
0.900% due 03/11/26		135,000		118,524
1.150% due 05/13/26		75,000		65,944
1.950% due 12/01/31		100,000		77,213
2.300% due 05/13/31		150,000		121,196
2.450% due 03/03/27		250,000		224,340
3.200% due 03/02/27		100,000		92,405
3.750% due 04/01/24		50,000		49,132
3.850% due 05/21/25		100,000		96,269
Chubb INA Holdings, Inc.
1.375% due 09/15/30		250,000		202,421
2.850% due 12/15/51		25,000		17,675
3.050% due 12/15/61		10,000		6,762
3.150% due 03/15/25		100,000		97,638
4.150% due 03/13/43		25,000		21,791
Citigroup, Inc.
0.981% due 05/01/25		50,000		47,524
1.122% due 01/28/27		750,000		669,095
1.281% due 11/03/25		30,000		28,045
1.462% due 06/09/27		100,000		88,867
2.014% due 01/25/26		145,000		136,634
2.520% due 11/03/32		70,000		57,036

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

203

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
2.561% due 05/01/32		$55,000		$45,667
2.572% due 06/03/31		600,000		506,575
2.666% due 01/29/31		150,000		128,130
2.904% due 11/03/42		50,000		35,853
2.976% due 11/05/30		100,000		87,633
3.057% due 01/25/33		135,000		114,345
3.070% due 02/24/28		650,000		604,955
3.106% due 04/08/26		200,000		191,343
3.290% due 03/17/26		100,000		95,905
3.400% due 05/01/26		100,000		95,510
3.520% due 10/27/28		100,000		93,553
3.668% due 07/24/28		100,000		94,812
3.750% due 06/16/24		100,000		98,297
3.785% due 03/17/33		450,000		403,811
3.875% due 03/26/25		100,000		96,944
3.878% due 01/24/39		100,000		85,122
3.887% due 01/10/28		100,000		95,637
4.000% due 08/05/24		50,000		49,164
4.125% due 07/25/28		100,000		94,507
4.300% due 11/20/26		100,000		96,835
4.750% due 05/18/46		50,000		44,348
5.300% due 05/06/44		400,000		381,346
6.125% due 08/25/36		100,000		103,407
6.270% due 11/17/33		235,000		254,354
Citizens Bank NA 4.119% due 05/23/25		250,000		236,135
CME Group, Inc.
3.000% due 03/15/25		50,000		48,490
3.750% due 06/15/28		100,000		98,025
4.150% due 06/15/48		50,000		45,515
CNA Financial Corp.
3.450% due 08/15/27		100,000		94,624
4.500% due 03/01/26		50,000		49,541
Comerica Bank 4.000% due 07/27/25		250,000		204,344
Cooperatieve Rabobank UA (Netherlands)
3.375% due 05/21/25		250,000		241,151
5.250% due 05/24/41		200,000		213,151
Corebridge Financial, Inc. 3.650% due 04/05/27 ~		500,000		469,062
Corp Andina de Fomento (Multi-National) 2.250% due 02/08/27		200,000		183,394
Corporate Office Properties LP REIT
2.250% due 03/15/26		35,000		30,934
2.900% due 12/01/33		65,000		45,406
Council Of Europe Development Bank (Multi-National) 3.625% due 01/26/28		250,000		247,748
Credit Suisse AG (Switzerland)
3.700% due 02/21/25		250,000		237,607
5.000% due 07/09/27		300,000		289,500
Credit Suisse Group AG (Switzerland) 3.750% due 03/26/25		250,000		230,617
Crown Castle, Inc. REIT
2.100% due 04/01/31		200,000		163,533
3.200% due 09/01/24		35,000		34,013
3.250% due 01/15/51		200,000		137,964
3.650% due 09/01/27		35,000		33,217
3.700% due 06/15/26		35,000		33,763
3.800% due 02/15/28		50,000		47,485
4.000% due 03/01/27		40,000		38,778
4.300% due 02/15/29		60,000		57,900
4.450% due 02/15/26		35,000		34,564
4.750% due 05/15/47		25,000		21,970
5.000% due 01/11/28		35,000		35,297
CubeSmart LP REIT
2.000% due 02/15/31		15,000		11,806
3.125% due 09/01/26		50,000		47,407
Deutsche Bank AG (Germany)
2.129% due 11/24/26		350,000		301,917
2.552% due 01/07/28		150,000		127,465
3.547% due 09/18/31		500,000		410,437

	Principal Amount		Value
3.700% due 05/30/24		$285,000		$270,674
Digital Realty Trust LP REIT
3.700% due 08/15/27		50,000		46,198
4.450% due 07/15/28		100,000		94,168
Discover Bank 3.450% due 07/27/26		250,000		231,095
Enstar Group Ltd. 4.950% due 06/01/29		25,000		23,519
EPR Properties REIT 3.600% due 11/15/31		30,000		22,488
Equinix, Inc. REIT
2.000% due 05/15/28		35,000		29,951
2.150% due 07/15/30		350,000		286,395
2.500% due 05/15/31		100,000		82,407
2.625% due 11/18/24		65,000		62,599
3.400% due 02/15/52		10,000		7,033
Equitable Holdings, Inc. 4.350% due 04/20/28		300,000		288,433
ERP Operating LP REIT
2.850% due 11/01/26		70,000		65,476
3.500% due 03/01/28		100,000		93,959
4.500% due 06/01/45		75,000		65,099
Essex Portfolio LP REIT
2.550% due 06/15/31		65,000		53,502
2.650% due 03/15/32		30,000		24,505
3.375% due 04/15/26		50,000		47,768
3.875% due 05/01/24		50,000		49,329
4.000% due 03/01/29		25,000		23,582
European Bank for Reconstruction & Development (United Kingdom)
0.500% due 01/28/26		300,000		272,573
4.375% due 03/09/28		120,000		123,562
European Investment Bank (Multi-National)
0.375% due 03/26/26		300,000		271,018
0.625% due 10/21/27		250,000		217,896
0.750% due 10/26/26		83,000		74,655
1.250% due 02/14/31		300,000		254,339
1.375% due 03/15/27		350,000		320,015
1.625% due 03/14/25		230,000		219,470
1.625% due 10/09/29		195,000		172,340
2.250% due 06/24/24		250,000		243,620
2.750% due 08/15/25		600,000		583,894
3.750% due 02/14/33		325,000		329,163
3.875% due 03/15/28		400,000		403,454
Extra Space Storage LP REIT 3.900% due 04/01/29		220,000		202,890
Fairfax Financial Holdings Ltd. (Canada) 5.625% due 08/16/32 ~		150,000		147,594
Federal Realty Investment Trust REIT
1.250% due 02/15/26		300,000		273,958
4.500% due 12/01/44		50,000		40,776
Fidelity National Financial, Inc.
3.400% due 06/15/30		200,000		175,204
4.500% due 08/15/28		50,000		48,469
Fifth Third Bancorp
1.707% due 11/01/27		155,000		131,111
2.550% due 05/05/27		60,000		51,758
4.772% due 07/28/30		200,000		185,156
8.250% due 03/01/38		25,000		28,219
FS KKR Capital Corp.
2.625% due 01/15/27		100,000		84,267
3.250% due 07/15/27		50,000		42,415
4.125% due 02/01/25		50,000		47,339
Globe Life, Inc. 4.550% due 09/15/28		50,000		49,466
GLP Capital LP/GLP Financing II, Inc. REIT
3.250% due 01/15/32		50,000		40,613
4.000% due 01/15/31		50,000		42,936
5.250% due 06/01/25		25,000		24,438
5.375% due 04/15/26		50,000		48,570
5.750% due 06/01/28		25,000		24,418

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

204

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Goldman Sachs Group, Inc.
1.093% due 12/09/26		$290,000		$259,909
1.431% due 03/09/27		80,000		71,660
1.542% due 09/10/27		100,000		88,054
1.948% due 10/21/27		250,000		223,589
2.383% due 07/21/32		70,000		56,878
2.615% due 04/22/32		70,000		58,353
2.640% due 02/24/28		250,000		228,273
2.650% due 10/21/32		250,000		206,736
2.908% due 07/21/42		60,000		43,034
3.102% due 02/24/33		250,000		214,884
3.210% due 04/22/42		60,000		45,290
3.272% due 09/29/25		255,000		247,541
3.436% due 02/24/43		450,000		347,753
3.500% due 01/23/25		150,000		145,824
3.500% due 04/01/25		100,000		97,156
3.500% due 11/16/26		100,000		95,594
3.615% due 03/15/28		200,000		189,403
3.750% due 05/22/25		150,000		145,755
3.750% due 02/25/26		60,000		58,370
3.800% due 03/15/30		250,000		233,079
3.814% due 04/23/29		150,000		141,030
3.850% due 01/26/27		160,000		154,490
4.017% due 10/31/38		100,000		86,665
4.223% due 05/01/29		200,000		191,792
4.411% due 04/23/39		450,000		405,462
4.482% due 08/23/28		500,000		489,432
4.750% due 10/21/45		100,000		92,499
6.750% due 10/01/37		200,000		216,655
Golub Capital BDC, Inc. 2.500% due 08/24/26		60,000		51,513
Hartford Financial Services Group, Inc. 2.900% due 09/15/51		100,000		67,473
Healthcare Realty Holdings LP REIT
2.000% due 03/15/31		25,000		19,537
3.100% due 02/15/30		50,000		43,399
Healthpeak OP LLC REIT
2.875% due 01/15/31		200,000		171,839
3.000% due 01/15/30		100,000		87,833
3.400% due 02/01/25		7,000		6,789
Hercules Capital, Inc. 3.375% due 01/20/27		35,000		30,083
Highwoods Realty LP REIT
4.125% due 03/15/28		20,000		17,749
4.200% due 04/15/29		50,000		41,374
Host Hotels & Resorts LP REIT
3.375% due 12/15/29		25,000		21,176
3.500% due 09/15/30		100,000		84,577
HSBC Holdings PLC (United Kingdom)
1.645% due 04/18/26		250,000		228,495
2.251% due 11/22/27		250,000		221,994
2.357% due 08/18/31		250,000		201,704
2.804% due 05/24/32		200,000		163,444
2.848% due 06/04/31		200,000		168,136
2.999% due 03/10/26		200,000		188,797
3.900% due 05/25/26		200,000		189,983
3.973% due 05/22/30		290,000		261,918
4.250% due 08/18/25		200,000		190,383
4.375% due 11/23/26		200,000		191,037
4.762% due 03/29/33		300,000		271,437
5.210% due 08/11/28		300,000		297,196
6.254% due 03/09/34		200,000		209,262
6.800% due 06/01/38		150,000		156,329
7.336% due 11/03/26		200,000		207,710
HSBC USA, Inc. 3.500% due 06/23/24		250,000		243,594
Hudson Pacific Properties LP REIT 4.650% due 04/01/29		50,000		35,139
Huntington Bancshares, Inc.
2.625% due 08/06/24		300,000		281,443
5.023% due 05/17/33		70,000		63,784
ING Groep NV (Netherlands)
4.252% due 03/28/33		200,000		182,883
4.550% due 10/02/28		200,000		191,956

	Principal Amount		Value
Inter-American Development Bank (Multi-National)
0.500% due 09/23/24		$150,000		$141,838
0.625% due 07/15/25		700,000		648,783
0.875% due 04/20/26		250,000		228,473
1.125% due 07/20/28		300,000		262,585
1.125% due 01/13/31		150,000		124,357
1.750% due 03/14/25		300,000		286,725
2.000% due 06/02/26		150,000		141,342
2.000% due 07/23/26		100,000		94,233
3.200% due 08/07/42		100,000		87,395
3.250% due 07/01/24		175,000		172,443
3.500% due 09/14/29		200,000		197,653
4.000% due 01/12/28		100,000		101,196
Inter-American Investment Corp. (Supranational) 4.125% due 02/15/28		150,000		151,066
Intercontinental Exchange, Inc.
1.850% due 09/15/32		65,000		51,016
2.650% due 09/15/40		65,000		47,198
3.000% due 09/15/60		65,000		42,876
3.100% due 09/15/27		100,000		94,524
5.200% due 06/15/62		350,000		351,396
International Bank for Reconstruction & Development (Multi-National)
0.375% due 07/28/25		350,000		322,272
0.500% due 10/28/25		200,000		183,341
0.625% due 04/22/25		1,100,000		1,025,486
0.750% due 11/24/27		195,000		170,447
0.875% due 05/14/30		350,000		288,247
1.125% due 09/13/28		160,000		139,674
1.250% due 02/10/31		500,000		418,907
1.375% due 04/20/28		250,000		223,446
1.625% due 01/15/25		150,000		143,303
1.625% due 11/03/31		190,000		162,052
1.750% due 10/23/29		100,000		88,719
2.500% due 03/29/32		200,000		182,615
3.125% due 11/20/25		50,000		48,986
3.125% due 06/15/27		600,000		586,362
3.625% due 09/21/29		250,000		248,980
International Finance Corp. (Multi-National)
0.750% due 10/08/26		100,000		90,027
0.750% due 08/27/30		250,000		203,174
1.375% due 10/16/24		90,000		86,035
3.625% due 09/15/25		67,000		66,502
Invesco Finance PLC 5.375% due 11/30/43		200,000		198,138
Invitation Homes Operating Partnership LP REIT 2.000% due 08/15/31		300,000		230,481
Jackson Financial, Inc. 5.170% due 06/08/27		55,000		54,891
Jefferies Financial Group, Inc.
2.625% due 10/15/31		100,000		76,516
2.750% due 10/15/32		40,000		30,902
JPMorgan Chase & Co.
0.768% due 08/09/25		350,000		328,826
0.824% due 06/01/25		170,000		161,184
0.969% due 06/23/25		300,000		284,361
1.040% due 02/04/27		500,000		446,685
1.045% due 11/19/26		100,000		89,323
1.470% due 09/22/27		75,000		66,210
1.561% due 12/10/25		100,000		93,849
1.578% due 04/22/27		65,000		58,450
1.764% due 11/19/31		100,000		79,433
2.069% due 06/01/29		140,000		121,577
2.083% due 04/22/26		250,000		234,063
2.182% due 06/01/28		650,000		582,757
2.301% due 10/15/25		615,000		588,413
2.525% due 11/19/41		100,000		69,186
2.545% due 11/08/32		375,000		311,176
2.580% due 04/22/32		75,000		63,162
2.595% due 02/24/26		100,000		94,833
2.739% due 10/15/30		75,000		65,524

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

205

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
2.947% due 02/24/28		$60,000		$55,668
2.956% due 05/13/31		65,000		56,226
2.963% due 01/25/33		100,000		85,587
3.109% due 04/22/51		250,000		177,498
3.157% due 04/22/42		300,000		228,567
3.200% due 06/15/26		100,000		95,911
3.328% due 04/22/52		70,000		51,432
3.509% due 01/23/29		185,000		173,258
3.540% due 05/01/28		100,000		94,647
3.625% due 05/13/24		200,000		197,544
3.702% due 05/06/30		150,000		139,596
3.882% due 07/24/38		150,000		132,465
3.964% due 11/15/48		100,000		82,970
4.032% due 07/24/48		150,000		126,612
4.080% due 04/26/26		250,000		245,592
4.452% due 12/05/29		150,000		145,801
4.851% due 07/25/28		500,000		499,524
4.912% due 07/25/33		500,000		497,415
5.500% due 10/15/40		100,000		103,528
5.546% due 12/15/25		200,000		201,478
5.600% due 07/15/41		100,000		104,206
5.717% due 09/14/33		190,000		194,786
6.400% due 05/15/38		300,000		341,363
KeyBank NA 5.850% due 11/15/27		250,000		246,041
KeyCorp
2.250% due 04/06/27		350,000		297,755
4.150% due 10/29/25		30,000		28,187
Kimco Realty OP LLC REIT
2.250% due 12/01/31		70,000		54,934
3.700% due 10/01/49		25,000		18,037
4.125% due 12/01/46		50,000		38,057
Kite Realty Group Trust REIT 4.750% due 09/15/30		25,000		22,631
Kreditanstalt fuer Wiederaufbau (Germany)
0.375% due 07/18/25		250,000		230,325
0.625% due 01/22/26		730,000		666,838
1.250% due 01/31/25		500,000		474,163
1.375% due 08/05/24		400,000		384,235
1.750% due 09/14/29		100,000		89,031
2.500% due 11/20/24		375,000		364,460
3.000% due 05/20/27		200,000		194,206
3.750% due 02/15/28		440,000		440,805
3.863% due 06/29/37		200,000		116,504
Landwirtschaftliche Rentenbank (Germany)
0.500% due 05/27/25		200,000		185,280
0.875% due 09/03/30		200,000		163,022
1.750% due 07/27/26		100,000		93,379
Lazard Group LLC
3.625% due 03/01/27		50,000		46,941
4.375% due 03/11/29		50,000		47,727
Legg Mason, Inc. 4.750% due 03/15/26		50,000		49,604
Life Storage LP REIT 4.000% due 06/15/29		100,000		91,971
Lincoln National Corp.
3.625% due 12/12/26		150,000		137,374
3.800% due 03/01/28		35,000		31,600
4.350% due 03/01/48		25,000		19,129
Lloyds Banking Group PLC (United Kingdom)
3.750% due 03/18/28		200,000		186,000
3.870% due 07/09/25		500,000		486,268
4.582% due 12/10/25		200,000		188,952
7.953% due 11/15/33		200,000		221,615
LXP Industrial Trust REIT 2.375% due 10/01/31		70,000		53,989
M&T Bank Corp. 4.553% due 08/16/28		65,000		60,206
Main Street Capital Corp. 3.000% due 07/14/26		100,000		87,306
Manufacturers & Traders Trust Co. 4.650% due 01/27/26		300,000		282,759

	Principal Amount		Value
Manulife Financial Corp. (Canada)
3.703% due 03/16/32		$100,000		$92,123
4.150% due 03/04/26		50,000		49,254
5.375% due 03/04/46		50,000		50,440
Markel Corp.
3.450% due 05/07/52		70,000		49,490
3.500% due 11/01/27		50,000		47,611
5.000% due 05/20/49		30,000		27,637
Marsh & McLennan Cos., Inc.
2.375% due 12/15/31		45,000		37,279
3.500% due 03/10/25		75,000		73,105
3.750% due 03/14/26		100,000		97,895
4.200% due 03/01/48		100,000		85,951
4.375% due 03/15/29		70,000		69,443
5.750% due 11/01/32		100,000		107,455
Mastercard, Inc.
1.900% due 03/15/31		100,000		85,090
2.000% due 11/18/31		200,000		168,966
2.950% due 11/21/26		50,000		47,794
2.950% due 06/01/29		50,000		46,405
2.950% due 03/15/51		45,000		33,951
3.650% due 06/01/49		50,000		42,753
3.800% due 11/21/46		50,000		43,907
3.950% due 02/26/48		15,000		13,520
MetLife, Inc.
4.550% due 03/23/30		350,000		346,113
5.700% due 06/15/35		100,000		105,954
5.875% due 02/06/41		200,000		208,834
6.375% due 06/15/34		100,000		111,758
Mid-America Apartments LP REIT
3.600% due 06/01/27		100,000		95,510
3.950% due 03/15/29		25,000		24,001
Mitsubishi UFJ Financial Group, Inc. (Japan)
0.962% due 10/11/25		200,000		186,388
1.640% due 10/13/27		200,000		175,926
2.048% due 07/17/30		200,000		163,621
2.852% due 01/19/33		200,000		165,144
3.677% due 02/22/27		100,000		96,211
3.777% due 03/02/25		50,000		48,643
3.850% due 03/01/26		200,000		192,031
3.961% due 03/02/28		50,000		48,153
4.050% due 09/11/28		150,000		146,288
4.788% due 07/18/25		250,000		247,677
5.441% due 02/22/34		200,000		202,232
5.475% due 02/22/31		200,000		201,562
5.719% due 02/20/26		500,000		501,633
Mizuho Financial Group, Inc. (Japan)
2.201% due 07/10/31		200,000		161,991
3.261% due 05/22/30		200,000		177,388
3.663% due 02/28/27		200,000		191,143
5.754% due 05/27/34		250,000		255,890
Morgan Stanley
0.864% due 10/21/25		70,000		64,976
1.164% due 10/21/25		225,000		210,260
1.512% due 07/20/27		100,000		88,952
1.593% due 05/04/27		145,000		130,055
1.794% due 02/13/32		65,000		51,069
2.188% due 04/28/26		500,000		469,390
2.239% due 07/21/32		100,000		80,309
2.475% due 01/21/28		170,000		155,438
2.484% due 09/16/36		100,000		76,035
2.699% due 01/22/31		445,000		383,564
2.720% due 07/22/25		565,000		544,888
2.802% due 01/25/52		400,000		264,550
2.943% due 01/21/33		135,000		114,474
3.125% due 07/27/26		70,000		66,350
3.217% due 04/22/42		55,000		42,530
3.591% due 07/22/28		100,000		94,533
3.622% due 04/01/31		200,000		183,030
3.625% due 01/20/27		300,000		289,023
4.300% due 01/27/45		100,000		88,555
4.350% due 09/08/26		90,000		87,749

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

206

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
4.431% due 01/23/30		$95,000		$91,673
4.457% due 04/22/39		150,000		137,297
5.050% due 01/28/27		560,000		558,878
5.123% due 02/01/29		600,000		605,234
5.597% due 03/24/51		100,000		105,383
5.948% due 01/19/38		300,000		298,615
6.342% due 10/18/33		325,000		355,247
7.250% due 04/01/32		100,000		117,292
Morgan Stanley Domestic Holdings, Inc.
3.800% due 08/24/27		15,000		14,207
4.500% due 06/20/28		50,000		49,442
Nasdaq, Inc.
1.650% due 01/15/31		150,000		118,437
2.500% due 12/21/40		150,000		99,080
National Australia Bank Ltd. (Australia) 5.132% due 11/22/24		250,000		251,734
National Retail Properties, Inc. REIT 4.300% due 10/15/28		35,000		32,984
Natwest Group PLC (United Kingdom)
3.032% due 11/28/35		350,000		267,056
3.073% due 05/22/28		200,000		181,110
7.472% due 11/10/26		300,000		310,319
Nomura Holdings, Inc. (Japan)
1.653% due 07/14/26		100,000		87,476
1.851% due 07/16/25		200,000		183,168
2.329% due 01/22/27		300,000		265,371
Nordic Investment Bank (Multi-National) 0.500% due 01/21/26		300,000		272,835
Northern Trust Corp.
1.950% due 05/01/30		75,000		62,582
3.375% due 05/08/32		63,000		57,249
3.650% due 08/03/28		50,000		46,838
4.000% due 05/10/27		35,000		34,329
Oaktree Specialty Lending Corp. 2.700% due 01/15/27		50,000		42,798
Oesterreichische Kontrollbank AG (Austria)
0.375% due 09/17/25		90,000		82,418
1.500% due 02/12/25		300,000		285,425
4.250% due 03/01/28		35,000		35,765
4.625% due 11/03/25		70,000		70,969
Old Republic International Corp. 3.850% due 06/11/51		55,000		41,343
Omega Healthcare Investors, Inc. REIT
4.500% due 01/15/25		25,000		23,974
4.750% due 01/15/28		50,000		46,388
4.950% due 04/01/24		100,000		98,853
ORIX Corp. (Japan)
3.700% due 07/18/27		50,000		47,626
4.000% due 04/13/32		100,000		92,158
Owl Rock Capital Corp.
2.875% due 06/11/28		100,000		81,185
3.750% due 07/22/25		100,000		91,299
4.000% due 03/30/25		25,000		23,332
OWL Rock Core Income Corp. 5.500% due 03/21/25		100,000		97,473
Physicians Realty LP REIT 2.625% due 11/01/31		50,000		39,443
Piedmont Operating Partnership LP REIT 2.750% due 04/01/32		35,000		24,086
PNC Bank NA
2.950% due 02/23/25		300,000		286,525
4.050% due 07/26/28		350,000		331,985
PNC Financial Services Group, Inc.
2.550% due 01/22/30		350,000		298,752
5.068% due 01/24/34		40,000		39,492
Principal Financial Group, Inc.
3.700% due 05/15/29		25,000		23,519
4.625% due 09/15/42		100,000		87,335
5.375% due 03/15/33		30,000		30,049
Private Export Funding Corp. 2.450% due 07/15/24		100,000		97,291
Progressive Corp.

	Principal Amount		Value
2.500% due 03/15/27		$40,000		$36,916
3.000% due 03/15/32		50,000		44,724
3.700% due 03/15/52		175,000		140,297
4.000% due 03/01/29		25,000		24,519
4.125% due 04/15/47		100,000		88,240
Prologis LP REIT
1.250% due 10/15/30		55,000		43,295
1.625% due 03/15/31		100,000		79,842
1.750% due 02/01/31		20,000		16,189
2.125% due 04/15/27		25,000		22,820
2.125% due 10/15/50		40,000		22,786
2.250% due 04/15/30		30,000		25,477
2.250% due 01/15/32		50,000		41,179
2.875% due 11/15/29		40,000		35,712
3.000% due 04/15/50		25,000		17,383
3.375% due 12/15/27		60,000		57,053
4.375% due 02/01/29		15,000		14,674
Prudential Financial, Inc.
1.500% due 03/10/26		20,000		18,257
2.100% due 03/10/30		15,000		12,825
3.000% due 03/10/40		25,000		18,962
3.700% due 10/01/50		175,000		143,017
3.700% due 03/13/51		150,000		113,870
3.935% due 12/07/49		132,000		104,790
4.350% due 02/25/50		50,000		42,866
5.200% due 03/15/44		100,000		95,272
6.625% due 06/21/40		50,000		55,396
Public Storage REIT
0.875% due 02/15/26		50,000		44,981
1.500% due 11/09/26		50,000		44,914
2.300% due 05/01/31		250,000		209,874
3.094% due 09/15/27		30,000		28,243
Raymond James Financial, Inc. 4.950% due 07/15/46		100,000		90,917
Realty Income Corp. REIT
1.800% due 03/15/33		50,000		37,179
2.200% due 06/15/28		35,000		30,898
2.850% due 12/15/32		30,000		24,832
3.000% due 01/15/27		50,000		46,745
3.875% due 04/15/25		150,000		146,297
4.625% due 11/01/25		50,000		49,309
4.850% due 03/15/30		65,000		64,100
4.875% due 06/01/26		25,000		24,893
Regency Centers LP REIT
3.600% due 02/01/27		30,000		28,747
3.700% due 06/15/30		35,000		31,627
4.400% due 02/01/47		35,000		28,627
Regions Financial Corp. 1.800% due 08/12/28		300,000		246,169
Reinsurance Group of America, Inc. 3.950% due 09/15/26		60,000		57,947
RenaissanceRe Finance, Inc. (Bermuda) 3.450% due 07/01/27		30,000		28,609
Royal Bank of Canada (Canada)
1.150% due 06/10/25		490,000		451,065
1.150% due 07/14/26		50,000		44,867
2.050% due 01/21/27		100,000		90,608
3.625% due 05/04/27		150,000		143,752
3.970% due 07/26/24		75,000		74,014
4.650% due 01/27/26		200,000		197,162
4.900% due 01/12/28		150,000		150,095
Santander Holdings USA, Inc.
2.490% due 01/06/28		70,000		60,603
4.260% due 06/09/25		75,000		72,472
4.400% due 07/13/27		145,000		135,879
Santander UK Group Holdings PLC (United Kingdom)
1.532% due 08/21/26		200,000		178,603
2.896% due 03/15/32		200,000		161,662
Simon Property Group LP REIT
1.375% due 01/15/27		300,000		264,209
2.000% due 09/13/24		100,000		95,554
2.450% due 09/13/29		100,000		85,887

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

207

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
2.650% due 07/15/30		$100,000		$84,710
3.250% due 11/30/26		50,000		47,364
3.250% due 09/13/49		100,000		68,280
3.375% due 06/15/27		100,000		94,128
4.250% due 11/30/46		50,000		40,701
5.850% due 03/08/53		200,000		199,438
Spirit Realty LP REIT 3.400% due 01/15/30		50,000		43,029
Stifel Financial Corp. 4.250% due 07/18/24		50,000		49,290
STORE Capital Corp. REIT 4.500% due 03/15/28		150,000		134,498
Sumitomo Mitsui Financial Group, Inc. (Japan)
0.948% due 01/12/26		200,000		177,888
1.474% due 07/08/25		200,000		183,268
1.710% due 01/12/31		200,000		155,840
1.902% due 09/17/28		250,000		211,916
2.296% due 01/12/41		200,000		130,477
2.348% due 01/15/25		200,000		189,737
3.010% due 10/19/26		200,000		186,090
3.202% due 09/17/29		150,000		131,349
3.364% due 07/12/27		150,000		140,288
3.784% due 03/09/26		100,000		96,791
5.766% due 01/13/33		200,000		209,041
Sun Communities Operating LP REIT 2.300% due 11/01/28		65,000		55,549
Synchrony Financial
3.700% due 08/04/26		50,000		43,719
3.950% due 12/01/27		100,000		84,827
4.875% due 06/13/25		100,000		92,672
Tanger Properties LP REIT 3.875% due 07/15/27		50,000		45,260
Toronto-Dominion Bank (Canada)
0.700% due 09/10/24		350,000		329,242
0.750% due 01/06/26		200,000		178,136
1.200% due 06/03/26		100,000		89,155
4.285% due 09/13/24		200,000		197,767
4.693% due 09/15/27		200,000		198,105
5.103% due 01/09/26		100,000		100,675
5.156% due 01/10/28		500,000		505,518
Travelers Cos., Inc.
3.050% due 06/08/51		50,000		35,734
6.250% due 06/15/37		125,000		141,941
Travelers Property Casualty Corp. 6.375% due 03/15/33		100,000		114,376
Truist Financial Corp.
1.125% due 08/03/27		100,000		84,633
1.200% due 08/05/25		135,000		121,487
1.267% due 03/02/27		120,000		105,814
1.887% due 06/07/29		125,000		104,477
1.950% due 06/05/30		135,000		108,973
2.500% due 08/01/24		300,000		286,902
3.700% due 06/05/25		100,000		95,390
4.000% due 05/01/25		100,000		96,582
4.873% due 01/26/29		40,000		39,039
4.916% due 07/28/33		100,000		93,284
U.S. Bancorp 4.839% due 02/01/34		200,000		194,181
UDR, Inc. REIT
2.100% due 06/15/33		100,000		75,369
3.100% due 11/01/34		50,000		40,972
3.200% due 01/15/30		50,000		44,744
4.400% due 01/26/29		25,000		24,006
Unum Group
4.000% due 06/15/29		70,000		65,422
4.125% due 06/15/51		100,000		71,643
US Bancorp
1.375% due 07/22/30		150,000		117,561
1.450% due 05/12/25		150,000		138,243
2.491% due 11/03/36		200,000		154,524
3.600% due 09/11/24		400,000		387,157
4.548% due 07/22/28		100,000		97,526

	Principal Amount		Value
5.850% due 10/21/33		$30,000		$31,361
Ventas Realty LP REIT
3.000% due 01/15/30		50,000		43,264
3.250% due 10/15/26		100,000		93,578
4.000% due 03/01/28		50,000		47,008
4.125% due 01/15/26		31,000		30,097
Visa, Inc.
1.100% due 02/15/31		200,000		159,845
1.900% due 04/15/27		250,000		230,160
2.050% due 04/15/30		300,000		261,792
3.650% due 09/15/47		25,000		21,842
4.150% due 12/14/35		30,000		29,533
4.300% due 12/14/45		100,000		96,414
Voya Financial, Inc.
3.650% due 06/15/26		50,000		47,850
4.800% due 06/15/46		30,000		25,509
W R Berkley Corp. 4.000% due 05/12/50		115,000		93,056
Wachovia Corp. 5.500% due 08/01/35		200,000		199,954
Wells Fargo & Co.
0.805% due 05/19/25		25,000		23,751
2.188% due 04/30/26		300,000		281,358
2.393% due 06/02/28		500,000		450,564
2.406% due 10/30/25		130,000		123,617
3.000% due 04/22/26		150,000		141,797
3.000% due 10/23/26		150,000		140,447
3.068% due 04/30/41		500,000		373,387
3.196% due 06/17/27		260,000		244,680
3.350% due 03/02/33		390,000		338,363
3.526% due 03/24/28		355,000		335,252
3.908% due 04/25/26		250,000		242,838
4.150% due 01/24/29		200,000		191,170
4.478% due 04/04/31		200,000		191,595
4.540% due 08/15/26		100,000		98,249
4.611% due 04/25/53		250,000		222,088
4.808% due 07/25/28		65,000		64,238
4.897% due 07/25/33		65,000		63,486
5.013% due 04/04/51		250,000		235,740
5.606% due 01/15/44		100,000		96,598
Wells Fargo Bank NA 6.600% due 01/15/38		100,000		112,033
Welltower OP LLC REIT
2.050% due 01/15/29		60,000		50,119
2.750% due 01/15/31		145,000		120,635
2.750% due 01/15/32		50,000		40,942
2.800% due 06/01/31		100,000		83,158
4.125% due 03/15/29		100,000		93,406
Westpac Banking Corp. (Australia)
1.953% due 11/20/28		100,000		87,102
2.150% due 06/03/31		100,000		84,518
2.700% due 08/19/26		150,000		140,823
2.894% due 02/04/30		200,000		187,682
2.963% due 11/16/40		200,000		134,548
3.400% due 01/25/28		100,000		95,048
4.043% due 08/26/27		100,000		98,378
4.110% due 07/24/34		65,000		58,263
4.421% due 07/24/39		45,000		37,809
5.457% due 11/18/27		100,000		103,650
Weyerhaeuser Co. REIT
4.000% due 11/15/29		100,000		94,513
7.375% due 03/15/32		100,000		115,005
Willis North America, Inc.
2.950% due 09/15/29		75,000		66,161
3.875% due 09/15/49		35,000		26,327
4.650% due 06/15/27		100,000		98,482
WP Carey, Inc. REIT 4.600% due 04/01/24		100,000		97,894
XL Group Ltd. (Bermuda) 5.250% due 12/15/43		50,000		49,835
				113,363,389

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

208

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Industrial - 1.8%
3M Co.
2.375% due 08/26/29		$300,000		$265,352
2.875% due 10/15/27		100,000		93,603
3.250% due 08/26/49		200,000		149,149
4.000% due 09/14/48		250,000		211,567
Agilent Technologies, Inc. 2.300% due 03/12/31		100,000		83,864
Allegion US Holding Co., Inc.
3.200% due 10/01/24		50,000		48,563
3.550% due 10/01/27		50,000		46,742
Amcor Flexibles North America, Inc.
2.690% due 05/25/31		65,000		54,125
4.000% due 05/17/25		65,000		63,692
Amphenol Corp.
2.050% due 03/01/25		25,000		23,819
2.200% due 09/15/31		60,000		49,812
4.350% due 06/01/29		50,000		49,888
Arrow Electronics, Inc.
3.250% due 09/08/24		100,000		97,198
3.875% due 01/12/28		25,000		23,745
Avnet, Inc.
4.625% due 04/15/26		25,000		24,720
6.250% due 03/15/28		100,000		101,869
Berry Global, Inc. 1.570% due 01/15/26		200,000		181,699
Boeing Co.
2.196% due 02/04/26		500,000		464,128
2.750% due 02/01/26		50,000		47,474
2.950% due 02/01/30		100,000		88,342
3.200% due 03/01/29		200,000		182,879
3.250% due 02/01/28		50,000		46,614
3.250% due 03/01/28		25,000		23,082
3.550% due 03/01/38		15,000		11,936
3.625% due 02/01/31		30,000		27,509
3.625% due 03/01/48		10,000		7,184
3.750% due 02/01/50		100,000		75,876
3.825% due 03/01/59		50,000		35,341
3.850% due 11/01/48		35,000		26,220
4.875% due 05/01/25		85,000		84,869
5.150% due 05/01/30		150,000		151,016
5.705% due 05/01/40		200,000		202,528
5.805% due 05/01/50		400,000		403,222
5.875% due 02/15/40		50,000		51,743
5.930% due 05/01/60		150,000		150,121
Burlington Northern Santa Fe LLC
3.050% due 02/15/51		200,000		146,079
3.300% due 09/15/51		200,000		153,140
3.550% due 02/15/50		150,000		120,640
3.650% due 09/01/25		50,000		48,979
4.125% due 06/15/47		50,000		44,458
4.450% due 01/15/53		300,000		281,210
4.700% due 09/01/45		50,000		47,718
5.750% due 05/01/40		100,000		107,800
Canadian National Railway Co. (Canada)
2.950% due 11/21/24		100,000		97,421
3.850% due 08/05/32		100,000		95,188
6.200% due 06/01/36		50,000		56,368
Canadian Pacific Railway Co. (Canada)
2.450% due 12/02/31		200,000		173,265
2.900% due 02/01/25		150,000		144,545
3.100% due 12/02/51		200,000		143,515
4.000% due 06/01/28		35,000		34,417
4.800% due 09/15/35		20,000		19,996
6.125% due 09/15/15		30,000		32,271
Carlisle Cos., Inc.
2.200% due 03/01/32		100,000		77,772
3.750% due 12/01/27		50,000		47,574
Carrier Global Corp.
2.242% due 02/15/25		35,000		33,414
2.493% due 02/15/27		35,000		32,541

	Principal Amount		Value
2.722% due 02/15/30		$50,000		$43,777
3.377% due 04/05/40		15,000		11,944
3.577% due 04/05/50		450,000		341,338
Caterpillar Financial Services Corp.
0.450% due 05/17/24		50,000		47,741
0.800% due 11/13/25		60,000		54,775
0.900% due 03/02/26		200,000		181,461
3.400% due 05/13/25		100,000		98,001
Caterpillar, Inc.
2.600% due 04/09/30		500,000		448,573
3.250% due 09/19/49		100,000		79,658
3.803% due 08/15/42		100,000		89,237
CNH Industrial Capital LLC 1.450% due 07/15/26		100,000		89,628
CNH Industrial NV (United Kingdom) 3.850% due 11/15/27		35,000		33,639
CSX Corp.
3.250% due 06/01/27		250,000		238,801
3.400% due 08/01/24		200,000		195,684
4.100% due 11/15/32		100,000		96,445
4.500% due 03/15/49		65,000		59,342
4.650% due 03/01/68		45,000		40,347
5.500% due 04/15/41		75,000		77,308
Deere & Co.
2.875% due 09/07/49		15,000		11,353
3.900% due 06/09/42		100,000		92,031
Dover Corp. 5.375% due 03/01/41		50,000		50,854
Eagle Materials, Inc. 2.500% due 07/01/31		50,000		40,996
Eaton Corp.
4.000% due 11/02/32		100,000		95,251
4.150% due 03/15/33		55,000		53,235
Emerson Electric Co.
0.875% due 10/15/26		35,000		31,061
2.200% due 12/21/31		100,000		84,772
3.150% due 06/01/25		100,000		97,071
FedEx Corp.
3.100% due 08/05/29		50,000		45,931
3.875% due 08/01/42		100,000		81,608
4.200% due 10/17/28		100,000		98,625
4.400% due 01/15/47		50,000		43,047
4.750% due 11/15/45		50,000		45,217
5.250% due 05/15/50		350,000		343,401
Flex Ltd.
3.750% due 02/01/26		50,000		48,041
4.750% due 06/15/25		50,000		49,115
4.875% due 06/15/29		25,000		24,227
Fortive Corp. 4.300% due 06/15/46		125,000		101,669
GATX Corp.
3.250% due 03/30/25		100,000		95,785
4.550% due 11/07/28		25,000		24,535
GE Capital International Funding Co. Unlimited Co. 4.418% due 11/15/35		350,000		339,448
General Dynamics Corp.
2.250% due 06/01/31		5,000		4,313
2.850% due 06/01/41		10,000		7,833
3.750% due 05/15/28		180,000		175,807
4.250% due 04/01/50		200,000		187,347
Honeywell International, Inc.
1.100% due 03/01/27		300,000		269,555
2.300% due 08/15/24		100,000		97,136
2.500% due 11/01/26		100,000		95,010
2.700% due 08/15/29		60,000		55,305
Hubbell, Inc. 3.350% due 03/01/26		50,000		48,346
Huntington Ingalls Industries, Inc. 2.043% due 08/16/28		50,000		42,898
IDEX Corp.
2.625% due 06/15/31		100,000		84,422
3.000% due 05/01/30		15,000		13,229

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

209

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Illinois Tool Works, Inc. 4.875% due 09/15/41		$100,000		$102,558
Jabil, Inc.
1.700% due 04/15/26		65,000		58,416
3.950% due 01/12/28		55,000		51,835
John Deere Capital Corp.
0.450% due 06/07/24		35,000		33,340
0.625% due 09/10/24		70,000		66,286
1.300% due 10/13/26		250,000		225,851
1.750% due 03/09/27		50,000		45,468
2.000% due 06/17/31		100,000		83,554
2.350% due 03/08/27		50,000		46,474
2.650% due 06/10/26		100,000		95,120
2.800% due 09/08/27		50,000		47,085
3.400% due 09/11/25		50,000		48,794
3.450% due 03/13/25		50,000		49,209
3.900% due 06/07/32		20,000		19,298
4.150% due 09/15/27		100,000		99,530
4.800% due 01/09/26		65,000		66,027
Johnson Controls International PLC
3.625% due 07/02/24		40,000		39,350
3.900% due 02/14/26		19,000		18,519
4.500% due 02/15/47		40,000		35,277
Johnson Controls International PLC/Tyco Fire & Security Finance SCA
1.750% due 09/15/30		15,000		12,365
4.900% due 12/01/32		40,000		40,615
Kansas City Southern 4.950% due 08/15/45		100,000		93,899
Kennametal, Inc. 4.625% due 06/15/28		50,000		48,406
Keysight Technologies, Inc. 4.550% due 10/30/24		100,000		98,985
L3Harris Technologies, Inc.
2.900% due 12/15/29		30,000		26,533
3.850% due 12/15/26		25,000		24,385
4.400% due 06/15/28		100,000		98,034
Lockheed Martin Corp.
3.550% due 01/15/26		50,000		49,548
3.600% due 03/01/35		25,000		23,376
3.800% due 03/01/45		20,000		17,317
3.900% due 06/15/32		45,000		43,797
4.150% due 06/15/53		385,000		350,492
4.500% due 05/15/36		20,000		19,791
4.700% due 05/15/46		44,000		43,743
6.150% due 09/01/36		100,000		113,486
Martin Marietta Materials, Inc.
2.500% due 03/15/30		65,000		55,269
3.450% due 06/01/27		21,000		19,944
Masco Corp.
2.000% due 02/15/31		100,000		80,125
3.500% due 11/15/27		100,000		94,415
Mohawk Industries, Inc. 3.625% due 05/15/30		50,000		45,364
Norfolk Southern Corp.
2.300% due 05/15/31		250,000		209,719
3.155% due 05/15/55		20,000		13,726
3.800% due 08/01/28		30,000		28,903
3.942% due 11/01/47		63,000		51,842
4.550% due 06/01/53		145,000		130,651
4.650% due 01/15/46		50,000		45,051
4.837% due 10/01/41		50,000		47,013
Northrop Grumman Corp.
3.250% due 01/15/28		350,000		332,714
3.850% due 04/15/45		100,000		83,983
4.700% due 03/15/33		60,000		60,651
nVent Finance SARL (United Kingdom) 2.750% due 11/15/31		50,000		40,612
Oshkosh Corp. 3.100% due 03/01/30		15,000		13,270
Otis Worldwide Corp.
2.056% due 04/05/25		20,000		18,888

	Principal Amount		Value
2.293% due 04/05/27		$20,000		$18,240
3.112% due 02/15/40		50,000		38,842
3.362% due 02/15/50		30,000		22,311
Owens Corning 3.875% due 06/01/30		150,000		139,020
Packaging Corp. of America
3.400% due 12/15/27		35,000		33,286
3.650% due 09/15/24		100,000		98,409
Parker-Hannifin Corp.
3.250% due 06/14/29		300,000		276,578
4.000% due 06/14/49		20,000		17,110
6.250% due 05/15/38		100,000		111,046
Precision Castparts Corp.
3.250% due 06/15/25		50,000		48,829
4.375% due 06/15/45		50,000		46,222
Raytheon Technologies Corp.
2.250% due 07/01/30		100,000		85,722
3.030% due 03/15/52		250,000		181,301
3.125% due 07/01/50		100,000		74,711
3.500% due 03/15/27		200,000		193,552
3.750% due 11/01/46		50,000		41,432
3.950% due 08/16/25		25,000		24,721
4.125% due 11/16/28		60,000		59,197
4.350% due 04/15/47		200,000		181,391
4.450% due 11/16/38		20,000		18,990
4.500% due 06/01/42		300,000		284,620
4.625% due 11/16/48		35,000		33,322
5.375% due 02/27/53		100,000		105,398
Regal Rexnord Corp. 6.050% due 04/15/28 ~		250,000		250,294
Republic Services, Inc.
3.200% due 03/15/25		100,000		97,218
3.375% due 11/15/27		120,000		114,632
3.950% due 05/15/28		100,000		97,321
Ryder System, Inc.
1.750% due 09/01/26		65,000		58,367
4.300% due 06/15/27		75,000		72,965
Snap-on, Inc. 3.100% due 05/01/50		35,000		26,715
Stanley Black & Decker, Inc.
2.750% due 11/15/50		50,000		29,727
4.250% due 11/15/28		100,000		96,652
6.272% due 03/06/26		100,000		101,214
Teledyne Technologies, Inc. 2.750% due 04/01/31		200,000		170,699
Textron, Inc.
3.650% due 03/15/27		100,000		95,666
4.000% due 03/15/26		25,000		24,630
Trane Technologies Financing Ltd. 5.250% due 03/03/33		45,000		46,549
Trane Technologies Luxembourg Finance SA 3.800% due 03/21/29		100,000		94,852
Trimble, Inc. 4.900% due 06/15/28		50,000		49,735
Tyco Electronics Group SA (Switzerland)
2.500% due 02/04/32		45,000		38,443
4.500% due 02/13/26		60,000		60,147
Union Pacific Corp.
2.375% due 05/20/31		40,000		34,556
2.750% due 03/01/26		25,000		23,876
2.891% due 04/06/36		125,000		103,385
2.973% due 09/16/62		25,000		16,597
3.000% due 04/15/27		100,000		95,506
3.200% due 05/20/41		370,000		298,585
3.250% due 08/15/25		50,000		48,603
3.350% due 08/15/46		50,000		38,699
3.550% due 05/20/61		100,000		76,091
3.600% due 09/15/37		20,000		17,623
3.750% due 07/15/25		50,000		49,325
3.799% due 04/06/71		30,000		23,358
4.750% due 02/21/26		125,000		126,580
4.950% due 05/15/53		200,000		202,966

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

210

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
United Parcel Service, Inc.
3.400% due 11/15/46		$200,000		$160,292
4.875% due 03/03/33		260,000		267,015
5.300% due 04/01/50		250,000		268,194
6.200% due 01/15/38		50,000		57,032
Vulcan Materials Co.
4.500% due 06/15/47		100,000		89,082
5.800% due 03/01/26		35,000		35,338
Waste Connections, Inc.
3.500% due 05/01/29		100,000		93,417
4.200% due 01/15/33		70,000		67,237
Waste Management, Inc.
0.750% due 11/15/25		206,000		187,504
2.950% due 06/01/41		35,000		26,833
3.150% due 11/15/27		100,000		95,143
4.625% due 02/15/33		200,000		200,592
Westinghouse Air Brake Technologies Corp. 4.950% due 09/15/28		100,000		98,161
WRKCo, Inc.
3.000% due 09/15/24		100,000		96,835
4.000% due 03/15/28		100,000		95,658
4.200% due 06/01/32		50,000		46,070
Xylem, Inc.
3.250% due 11/01/26		30,000		28,561
4.375% due 11/01/46		25,000		21,851
				21,253,519
Technology - 1.9%
Activision Blizzard, Inc.
1.350% due 09/15/30		35,000		28,369
2.500% due 09/15/50		100,000		67,122
3.400% due 09/15/26		50,000		48,446
Adobe, Inc. 1.900% due 02/01/25		230,000		220,170
Analog Devices, Inc.
2.100% due 10/01/31		60,000		50,556
2.800% due 10/01/41		50,000		38,212
2.950% due 10/01/51		55,000		40,360
3.450% due 06/15/27 ~		100,000		96,740
3.500% due 12/05/26		100,000		97,138
Apple, Inc.
0.700% due 02/08/26		400,000		364,120
1.125% due 05/11/25		65,000		61,030
1.400% due 08/05/28		100,000		87,661
1.650% due 05/11/30		410,000		349,273
1.650% due 02/08/31		200,000		167,449
1.700% due 08/05/31		100,000		83,178
1.800% due 09/11/24		100,000		96,437
2.050% due 09/11/26		100,000		93,574
2.200% due 09/11/29		100,000		89,535
2.550% due 08/20/60		250,000		165,282
2.650% due 05/11/50		100,000		70,587
2.650% due 02/08/51		450,000		315,771
2.700% due 08/05/51		100,000		70,556
2.850% due 08/05/61		100,000		69,071
2.950% due 09/11/49		65,000		49,154
3.000% due 11/13/27		100,000		96,093
3.250% due 02/23/26		570,000		557,896
3.350% due 02/09/27		200,000		195,423
3.750% due 09/12/47		75,000		65,712
3.750% due 11/13/47		50,000		43,909
3.850% due 08/04/46		35,000		31,301
4.250% due 02/09/47		100,000		95,954
4.500% due 02/23/36		50,000		51,671
4.650% due 02/23/46		445,000		448,626
Applied Materials, Inc.
1.750% due 06/01/30		30,000		25,214
3.900% due 10/01/25		35,000		34,575
4.350% due 04/01/47		45,000		42,348
5.100% due 10/01/35		35,000		36,629

	Principal Amount		Value
Autodesk, Inc.
2.400% due 12/15/31		$80,000		$66,582
2.850% due 01/15/30		55,000		48,618
Broadcom, Inc.
2.450% due 02/15/31 ~		200,000		163,836
3.419% due 04/15/33 ~		250,000		209,355
3.459% due 09/15/26		26,000		24,862
3.500% due 02/15/41 ~		315,000		237,892
3.750% due 02/15/51 ~		140,000		103,320
4.110% due 09/15/28		211,000		201,779
4.150% due 04/15/32 ~		40,000		36,467
4.300% due 11/15/32		200,000		184,374
4.750% due 04/15/29		150,000		148,192
5.000% due 04/15/30		200,000		198,784
Broadridge Financial Solutions, Inc. 3.400% due 06/27/26		50,000		47,838
CDW LLC/CDW Finance Corp. 3.569% due 12/01/31		250,000		215,258
Dell International LLC/EMC Corp.
4.000% due 07/15/24		50,000		49,341
4.900% due 10/01/26		100,000		99,807
5.300% due 10/01/29		100,000		100,826
5.850% due 07/15/25		200,000		203,371
6.020% due 06/15/26		500,000		513,412
8.100% due 07/15/36		27,000		31,528
8.350% due 07/15/46		13,000		15,857
Electronic Arts, Inc.
1.850% due 02/15/31		30,000		24,766
2.950% due 02/15/51		20,000		13,806
4.800% due 03/01/26		50,000		50,393
Fidelity National Information Services, Inc.
1.150% due 03/01/26		350,000		311,734
1.650% due 03/01/28		20,000		17,124
2.250% due 03/01/31		50,000		40,032
3.100% due 03/01/41		10,000		7,005
Fiserv, Inc.
2.250% due 06/01/27		100,000		90,541
2.650% due 06/01/30		100,000		86,383
2.750% due 07/01/24		100,000		97,056
3.200% due 07/01/26		25,000		23,742
3.500% due 07/01/29		45,000		41,786
3.850% due 06/01/25		100,000		97,973
4.400% due 07/01/49		40,000		34,209
Genpact Luxembourg SARL 3.375% due 12/01/24		25,000		24,243
Hewlett Packard Enterprise Co.
4.900% due 10/15/25		250,000		249,706
6.200% due 10/15/35		50,000		53,650
6.350% due 10/15/45		50,000		52,711
HP, Inc.
2.650% due 06/17/31		100,000		81,631
4.000% due 04/15/29		100,000		94,961
4.200% due 04/15/32		100,000		90,195
4.750% due 01/15/28		100,000		98,909
6.000% due 09/15/41		55,000		56,361
Intel Corp.
1.600% due 08/12/28		25,000		21,859
2.000% due 08/12/31		50,000		41,209
2.450% due 11/15/29		150,000		132,166
2.600% due 05/19/26		100,000		95,032
2.800% due 08/12/41		40,000		29,051
3.050% due 08/12/51		20,000		13,679
3.200% due 08/12/61		25,000		16,569
3.250% due 11/15/49		500,000		356,339
3.700% due 07/29/25		145,000		143,004
4.150% due 08/05/32		100,000		96,506
4.600% due 03/25/40		400,000		376,178
4.875% due 02/10/26		200,000		202,635
4.875% due 02/10/28		75,000		76,241
4.900% due 08/05/52		100,000		93,264
5.200% due 02/10/33		315,000		321,014
5.625% due 02/10/43		50,000		51,284
5.700% due 02/10/53		35,000		35,761
5.900% due 02/10/63		250,000		257,619

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

211

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
International Business Machines Corp.
2.850% due 05/15/40		$100,000		$73,820
3.000% due 05/15/24		200,000		196,346
3.300% due 05/15/26		300,000		289,490
3.500% due 05/15/29		170,000		159,777
4.150% due 05/15/39		100,000		88,660
4.250% due 05/15/49		300,000		258,228
4.750% due 02/06/33		200,000		198,901
5.100% due 02/06/53		200,000		191,489
5.600% due 11/30/39		26,000		27,072
Intuit, Inc. 1.650% due 07/15/30		15,000		12,502
KLA Corp.
4.650% due 07/15/32		60,000		60,608
4.950% due 07/15/52		100,000		99,229
Lam Research Corp.
4.000% due 03/15/29		55,000		53,930
4.875% due 03/15/49		25,000		24,787
Leidos, Inc.
2.300% due 02/15/31		55,000		44,662
5.750% due 03/15/33		45,000		46,018
Micron Technology, Inc.
2.703% due 04/15/32		20,000		16,026
3.366% due 11/01/41		15,000		10,649
3.477% due 11/01/51		25,000		16,324
6.750% due 11/01/29		250,000		265,706
Microsoft Corp.
2.400% due 08/08/26		250,000		238,058
2.525% due 06/01/50		485,000		343,657
2.675% due 06/01/60		166,000		114,775
2.921% due 03/17/52		278,000		211,620
3.125% due 11/03/25		100,000		97,572
3.300% due 02/06/27		300,000		294,495
3.450% due 08/08/36		72,000		66,670
3.700% due 08/08/46		500,000		454,898
NVIDIA Corp.
0.584% due 06/14/24		75,000		71,635
2.000% due 06/15/31		100,000		84,184
2.850% due 04/01/30		250,000		227,722
3.500% due 04/01/50		200,000		163,952
NXP BV/NXP Funding LLC/NXP USA, Inc. (China)
2.500% due 05/11/31		100,000		82,732
3.250% due 05/11/41		60,000		43,781
4.300% due 06/18/29		150,000		144,168
4.400% due 06/01/27		40,000		39,537
5.000% due 01/15/33		50,000		49,052
Oracle Corp.
1.650% due 03/25/26		545,000		500,924
2.300% due 03/25/28		70,000		62,670
2.800% due 04/01/27		500,000		465,017
2.875% due 03/25/31		75,000		64,216
2.950% due 05/15/25		150,000		144,464
3.250% due 11/15/27		350,000		329,109
3.600% due 04/01/40		500,000		388,522
3.650% due 03/25/41		80,000		61,793
3.850% due 07/15/36		50,000		42,790
3.850% due 04/01/60		300,000		209,722
3.900% due 05/15/35		105,000		91,820
3.950% due 03/25/51		120,000		90,475
4.000% due 07/15/46		250,000		191,070
4.100% due 03/25/61		95,000		70,033
4.300% due 07/08/34		100,000		91,748
4.375% due 05/15/55		200,000		157,701
6.125% due 07/08/39		100,000		104,141
6.250% due 11/09/32		200,000		215,220
6.500% due 04/15/38		100,000		108,452
Qorvo, Inc. 1.750% due 12/15/24 ~		30,000		27,880
QUALCOMM, Inc.
2.900% due 05/20/24		50,000		49,071

	Principal Amount		Value
3.250% due 05/20/27		$50,000		$48,392
3.450% due 05/20/25		150,000		147,293
4.250% due 05/20/32		20,000		20,018
4.300% due 05/20/47		30,000		27,844
4.500% due 05/20/52		45,000		41,988
4.800% due 05/20/45		150,000		149,556
6.000% due 05/20/53		350,000		398,122
Roper Technologies, Inc.
1.750% due 02/15/31		200,000		159,998
2.350% due 09/15/24		15,000		14,447
3.800% due 12/15/26		30,000		29,090
4.200% due 09/15/28		95,000		93,485
Salesforce, Inc.
0.625% due 07/15/24		55,000		52,256
1.500% due 07/15/28		65,000		57,342
1.950% due 07/15/31		80,000		67,033
2.700% due 07/15/41		60,000		45,120
2.900% due 07/15/51		100,000		71,029
3.050% due 07/15/61		50,000		34,367
ServiceNow, Inc. 1.400% due 09/01/30		65,000		52,392
Texas Instruments, Inc.
1.375% due 03/12/25		250,000		236,150
4.150% due 05/15/48		100,000		93,116
TSMC Arizona Corp. (Taiwan)
3.125% due 10/25/41		200,000		160,905
3.875% due 04/22/27		200,000		196,558
VMware, Inc.
2.200% due 08/15/31		250,000		198,077
3.900% due 08/21/27		30,000		28,737
Western Digital Corp.
2.850% due 02/01/29		30,000		24,407
3.100% due 02/01/32		55,000		41,503
Xilinx, Inc. 2.950% due 06/01/24		100,000		97,705
				22,461,268
Utilities - 2.1%
AEP Texas, Inc.
3.450% due 05/15/51		35,000		25,753
4.700% due 05/15/32		100,000		97,816
AEP Transmission Co. LLC 4.250% due 09/15/48		35,000		30,797
AES Corp.
1.375% due 01/15/26		75,000		67,540
2.450% due 01/15/31		100,000		81,508
Alabama Power Co.
3.125% due 07/15/51		100,000		71,097
4.150% due 08/15/44		90,000		77,489
4.300% due 07/15/48		15,000		13,035
Ameren Illinois Co.
3.250% due 03/01/25		50,000		48,677
3.800% due 05/15/28		50,000		48,675
3.850% due 09/01/32		50,000		47,332
4.150% due 03/15/46		50,000		43,255
American Electric Power Co., Inc.
1.000% due 11/01/25		30,000		27,258
5.950% due 11/01/32		100,000		106,493
American Water Capital Corp.
2.300% due 06/01/31		50,000		42,253
2.950% due 09/01/27		35,000		32,972
3.250% due 06/01/51		50,000		36,613
3.450% due 06/01/29		100,000		93,636
3.750% due 09/01/47		50,000		40,396
4.300% due 12/01/42		100,000		87,888
4.450% due 06/01/32		75,000		73,909
Appalachian Power Co.
3.700% due 05/01/50		150,000		116,091
7.000% due 04/01/38		150,000		174,329
Arizona Public Service Co.
2.200% due 12/15/31		65,000		51,786
2.950% due 09/15/27		50,000		46,364
4.500% due 04/01/42		100,000		87,038

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

212

PACIFIC SELECT FUND

PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Atmos Energy Corp.
2.625% due 09/15/29		$150,000		$134,376
3.000% due 06/15/27		30,000		28,390
4.150% due 01/15/43		64,000		56,806
4.300% due 10/01/48		50,000		44,432
Avangrid, Inc. 3.150% due 12/01/24		50,000		48,493
Baltimore Gas and Electric Co.
2.900% due 06/15/50		30,000		20,686
3.200% due 09/15/49		70,000		51,535
3.750% due 08/15/47		50,000		39,960
Berkshire Hathaway Energy Co.
3.250% due 04/15/28		30,000		28,500
3.800% due 07/15/48		25,000		20,147
4.250% due 10/15/50		200,000		172,265
4.450% due 01/15/49		50,000		45,070
4.600% due 05/01/53		250,000		228,348
6.125% due 04/01/36		99,000		109,124
Black Hills Corp.
3.150% due 01/15/27		50,000		46,985
4.350% due 05/01/33		30,000		27,594
5.950% due 03/15/28		100,000		103,682
CenterPoint Energy Houston Electric LLC
2.350% due 04/01/31		55,000		46,967
2.400% due 09/01/26		50,000		46,595
3.000% due 02/01/27		50,000		47,592
3.350% due 04/01/51		85,000		64,931
CenterPoint Energy Resources Corp.
4.000% due 04/01/28		100,000		97,890
5.250% due 03/01/28		200,000		205,228
Commonwealth Edison Co.
3.150% due 03/15/32		35,000		31,370
3.700% due 08/15/28		20,000		19,224
3.750% due 08/15/47		50,000		40,896
3.800% due 10/01/42		100,000		84,727
4.900% due 02/01/33		45,000		45,881
Connecticut Light & Power Co.
0.750% due 12/01/25		150,000		134,315
4.150% due 06/01/45		25,000		21,707
Consolidated Edison Co. of New York, Inc.
2.400% due 06/15/31		50,000		42,396
3.600% due 06/15/61		50,000		37,720
3.950% due 03/01/43		100,000		84,395
3.950% due 04/01/50		250,000		207,584
4.000% due 12/01/28		100,000		97,811
4.125% due 05/15/49		50,000		41,958
4.300% due 12/01/56		50,000		42,089
4.500% due 12/01/45		100,000		89,316
6.150% due 11/15/52		70,000		79,017
Constellation Energy Generation LLC 5.600% due 03/01/28		155,000		159,656
Consumers Energy Co.
3.250% due 08/15/46		50,000		37,480
3.600% due 08/15/32		65,000		60,209
3.800% due 11/15/28		100,000		96,579
4.350% due 04/15/49		100,000		90,548
Dominion Energy South Carolina, Inc.
4.600% due 06/15/43		100,000		92,413
5.300% due 05/15/33		50,000		51,996
5.450% due 02/01/41		50,000		51,295
Dominion Energy, Inc.
1.450% due 04/15/26		40,000		36,053
2.250% due 08/15/31		45,000		37,090
2.850% due 08/15/26		30,000		28,159
3.071% due 08/15/24		70,000		67,939
3.300% due 04/15/41		30,000		23,175
3.375% due 04/01/30		350,000		318,462
4.250% due 06/01/28		50,000		48,671
4.700% due 12/01/44		100,000		89,260
DTE Electric Co.

	Principal Amount		Value
2.250% due 03/01/30		$50,000		$43,430
2.950% due 03/01/50		50,000		35,221
3.000% due 03/01/32		150,000		132,207
3.375% due 03/01/25		50,000		48,682
3.650% due 03/01/52		55,000		43,880
DTE Energy Co. 4.220% due 11/01/24		75,000		74,203
Duke Energy Carolinas LLC
3.750% due 06/01/45		200,000		162,678
4.950% due 01/15/33		100,000		102,829
5.350% due 01/15/53		100,000		104,226
6.050% due 04/15/38		110,000		120,456
6.100% due 06/01/37		25,000		27,033
Duke Energy Corp.
2.450% due 06/01/30		160,000		136,465
2.550% due 06/15/31		100,000		83,773
3.150% due 08/15/27		50,000		47,028
3.300% due 06/15/41		100,000		75,492
3.500% due 06/15/51		100,000		73,230
3.950% due 08/15/47		50,000		39,820
4.200% due 06/15/49		65,000		53,301
4.500% due 08/15/32		180,000		174,189
Duke Energy Florida LLC
1.750% due 06/15/30		250,000		206,679
2.500% due 12/01/29		50,000		44,078
5.950% due 11/15/52		40,000		44,583
Duke Energy Indiana LLC
2.750% due 04/01/50		60,000		39,764
3.250% due 10/01/49		50,000		36,666
3.750% due 05/15/46		50,000		39,953
4.900% due 07/15/43		100,000		96,826
5.400% due 04/01/53		200,000		203,987
Duke Energy Ohio, Inc. 2.125% due 06/01/30		35,000		29,269
Duke Energy Progress LLC 3.700% due 09/01/28		100,000		96,045
Edison International
4.700% due 08/15/25		200,000		197,375
5.750% due 06/15/27		10,000		10,222
El Paso Electric Co. 5.000% due 12/01/44		50,000		45,336
Emera US Finance LP (Canada)
3.550% due 06/15/26		35,000		33,386
4.750% due 06/15/46		200,000		162,562
Enel Chile SA (Chile) 4.875% due 06/12/28		50,000		48,794
Enel Generacion Chile SA (Chile) 4.250% due 04/15/24		50,000		48,912
Entergy Arkansas LLC
3.500% due 04/01/26		50,000		48,755
4.200% due 04/01/49		50,000		42,920
Entergy Corp.
0.900% due 09/15/25		150,000		135,157
2.800% due 06/15/30		100,000		86,619
2.950% due 09/01/26		30,000		28,211
Entergy Louisiana LLC
2.350% due 06/15/32		100,000		82,218
3.100% due 06/15/41		400,000		310,429
3.250% due 04/01/28		50,000		46,711
4.200% due 09/01/48		50,000		43,408
4.950% due 01/15/45		40,000		37,409
5.590% due 10/01/24		50,000		50,426
Essential Utilities, Inc.
2.400% due 05/01/31		100,000		83,385
5.300% due 05/01/52		25,000		24,259
Evergy Kansas Central, Inc.
3.100% due 04/01/27		50,000		47,656
4.100% due 04/01/43		100,000		87,884
5.700% due 03/15/53		65,000		68,328
Evergy Metro, Inc. 3.650% due 08/15/25		50,000		48,323

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Eversource Energy
2.900% due 10/01/24		$50,000		$48,246
2.900% due 03/01/27		100,000		93,374
3.300% due 01/15/28		100,000		93,841
3.375% due 03/01/32		100,000		89,882
4.200% due 06/27/24		55,000		54,495
4.250% due 04/01/29		25,000		24,575
Exelon Corp.
3.950% due 06/15/25		100,000		97,763
4.050% due 04/15/30		300,000		286,569
4.100% due 03/15/52		350,000		288,284
4.450% due 04/15/46		100,000		86,172
4.950% due 06/15/35		35,000		34,524
5.100% due 06/15/45		35,000		33,171
Florida Power & Light Co.
2.850% due 04/01/25		350,000		339,513
2.875% due 12/04/51		300,000		211,057
3.700% due 12/01/47		200,000		166,201
4.950% due 06/01/35		100,000		100,866
5.100% due 04/01/33		65,000		67,418
5.690% due 03/01/40		35,000		37,904
5.950% due 02/01/38		125,000		137,723
Georgia Power Co.
4.300% due 03/15/42		100,000		88,356
4.700% due 05/15/32		100,000		99,131
5.125% due 05/15/52		100,000		97,985
Indiana Michigan Power Co.
3.250% due 05/01/51		60,000		42,551
4.250% due 08/15/48		25,000		21,474
Interstate Power & Light Co. 3.500% due 09/30/49		25,000		18,872
ITC Holdings Corp.
3.350% due 11/15/27		50,000		47,113
3.650% due 06/15/24		25,000		24,524
Kentucky Utilities Co. 4.375% due 10/01/45		40,000		34,378
Louisville Gas & Electric Co. 4.250% due 04/01/49		35,000		30,202
MidAmerican Energy Co.
3.650% due 08/01/48		100,000		81,158
6.750% due 12/30/31		100,000		115,195
Mississippi Power Co. 3.950% due 03/30/28		25,000		24,077
National Fuel Gas Co. 3.950% due 09/15/27		50,000		47,039
National Rural Utilities Cooperative Finance Corp.
1.350% due 03/15/31		100,000		77,222
1.650% due 06/15/31		200,000		158,694
4.023% due 11/01/32		100,000		94,378
5.450% due 10/30/25		100,000		101,928
8.000% due 03/01/32		50,000		59,936
Nevada Power Co. 5.900% due 05/01/53		250,000		277,943
NextEra Energy Capital Holdings, Inc.
2.250% due 06/01/30		80,000		67,678
4.800% due 12/01/77		100,000		84,455
5.050% due 02/28/33		200,000		200,697
5.650% due 05/01/79		100,000		88,507
6.051% due 03/01/25		250,000		254,455
NiSource, Inc.
0.950% due 08/15/25		200,000		182,080
3.490% due 05/15/27		50,000		47,431
3.950% due 03/30/48		50,000		40,528
4.800% due 02/15/44		100,000		92,294
5.250% due 02/15/43		100,000		99,629
Northern States Power Co.
2.600% due 06/01/51		50,000		33,291
4.500% due 06/01/52		75,000		69,300
Oglethorpe Power Corp. 5.050% due 10/01/48		100,000		91,402
Ohio Edison Co. 6.875% due 07/15/36		150,000		171,859

	Principal Amount		Value
Ohio Power Co. 1.625% due 01/15/31		$65,000		$51,691
Oklahoma Gas & Electric Co.
3.850% due 08/15/47		50,000		39,952
5.400% due 01/15/33		70,000		72,253
Oncor Electric Delivery Co. LLC
0.550% due 10/01/25		70,000		63,307
3.700% due 11/15/28		100,000		96,931
3.800% due 09/30/47		50,000		41,688
4.150% due 06/01/32		40,000		38,632
5.300% due 06/01/42		100,000		103,409
Pacific Gas & Electric Co.
6.150% due 01/15/33		45,000		46,240
6.700% due 04/01/53		105,000		108,138
6.750% due 01/15/53		100,000		103,566
Pacific Gas and Electric Co.
2.500% due 02/01/31		100,000		81,099
3.300% due 08/01/40		250,000		177,720
3.450% due 07/01/25		400,000		381,581
3.500% due 08/01/50		45,000		29,767
4.400% due 03/01/32		100,000		90,221
4.500% due 07/01/40		300,000		246,714
4.550% due 07/01/30		300,000		281,286
4.950% due 07/01/50		200,000		165,146
PacifiCorp
2.900% due 06/15/52		80,000		55,001
3.500% due 06/15/29		35,000		33,047
4.125% due 01/15/49		70,000		60,002
5.350% due 12/01/53		300,000		307,684
PECO Energy Co.
2.800% due 06/15/50		45,000		30,639
3.000% due 09/15/49		55,000		39,373
3.150% due 10/15/25		50,000		48,284
3.900% due 03/01/48		60,000		50,790
Piedmont Natural Gas Co., Inc.
3.350% due 06/01/50		225,000		159,643
4.650% due 08/01/43		35,000		31,231
PPL Electric Utilities Corp.
3.000% due 10/01/49		70,000		50,509
4.150% due 10/01/45		25,000		21,903
4.150% due 06/15/48		100,000		89,092
4.750% due 07/15/43		50,000		47,228
Progress Energy, Inc. 7.750% due 03/01/31		100,000		115,795
Public Service Co. of Colorado
due 04/01/53 #		115,000		117,317
2.700% due 01/15/51		100,000		66,639
3.700% due 06/15/28		50,000		48,394
3.800% due 06/15/47		50,000		41,377
5.250% due 06/15/31		200,000		163,539
Public Service Co. of New Hampshire 2.200% due 06/15/31		30,000		25,381
Public Service Co. of Oklahoma 2.200% due 08/15/31		100,000		81,860
Public Service Electric & Gas Co. 3.100% due 03/15/32		100,000		89,439
Public Service Electric and Gas Co.
0.950% due 03/15/26		100,000		90,916
2.050% due 08/01/50		100,000		59,530
3.000% due 03/01/51		100,000		72,211
3.200% due 08/01/49		60,000		45,116
4.050% due 05/01/48		25,000		21,707
Public Service Enterprise Group, Inc.
2.450% due 11/15/31		100,000		82,853
2.875% due 06/15/24		70,000		68,121
Puget Energy, Inc.
3.650% due 05/15/25		100,000		96,659
4.224% due 03/15/32		70,000		64,162
Puget Sound Energy, Inc.
2.893% due 09/15/51		55,000		37,073
5.795% due 03/15/40		25,000		26,324

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
San Diego Gas & Electric Co.
1.700% due 10/01/30		$95,000		$77,582
3.750% due 06/01/47		50,000		40,734
4.100% due 06/15/49		100,000		84,904
4.150% due 05/15/48		25,000		21,714
Sempra Energy
3.400% due 02/01/28		65,000		61,104
3.800% due 02/01/38		100,000		86,322
4.125% due 04/01/52		300,000		242,556
Southern California Edison Co.
2.250% due 06/01/30		120,000		102,022
2.850% due 08/01/29		75,000		67,132
2.950% due 02/01/51		320,000		216,071
3.650% due 03/01/28		50,000		47,263
3.650% due 02/01/50		70,000		54,037
3.700% due 08/01/25		30,000		29,255
3.900% due 03/15/43		50,000		40,781
4.125% due 03/01/48		10,000		8,293
4.500% due 09/01/40		50,000		44,480
5.300% due 03/01/28		200,000		205,163
Southern California Gas Co. 2.600% due 06/15/26		50,000		47,016
Southern Co.
4.000% due 01/15/51		350,000		321,978
4.250% due 07/01/36		30,000		27,557
4.400% due 07/01/46		450,000		392,666
5.700% due 10/15/32		65,000		68,421
Southwest Gas Corp.
3.800% due 09/29/46		50,000		37,918
4.050% due 03/15/32		60,000		55,239
Southwestern Electric Power Co.
3.250% due 11/01/51		200,000		139,555
3.900% due 04/01/45		50,000		39,509
4.100% due 09/15/28		50,000		48,491
6.200% due 03/15/40		50,000		52,699
Southwestern Public Service Co.
3.300% due 06/15/24		50,000		49,001
3.750% due 06/15/49		100,000		78,754
Spire Missouri, Inc. 4.800% due 02/15/33		60,000		59,927
Tampa Electric Co.
4.300% due 06/15/48		50,000		42,981
4.450% due 06/15/49		50,000		43,814
Tucson Electric Power Co.
3.050% due 03/15/25		50,000		48,403
4.850% due 12/01/48		100,000		91,602
Union Electric Co.
2.625% due 03/15/51		200,000		131,322
3.900% due 04/01/52		30,000		25,248
8.450% due 03/15/39		100,000		130,195
Virginia Electric & Power Co.
2.300% due 11/15/31		100,000		83,106
2.400% due 03/30/32		50,000		41,649
2.950% due 11/15/26		50,000		47,067
3.150% due 01/15/26		35,000		33,896
3.750% due 05/15/27		80,000		77,681
3.800% due 09/15/47		50,000		40,048
4.000% due 11/15/46		20,000		16,386
5.000% due 04/01/33		200,000		201,640
8.875% due 11/15/38		25,000		34,676
Washington Gas Light Co. 3.650% due 09/15/49		25,000		19,180
WEC Energy Group, Inc.
2.200% due 12/15/28		100,000		87,186
4.750% due 01/15/28		50,000		49,982
Wisconsin Electric Power Co. 4.300% due 10/15/48		10,000		8,812
Wisconsin Power & Light Co.
3.050% due 10/15/27		100,000		93,910
4.950% due 04/01/33		90,000		90,615
Xcel Energy, Inc.
4.000% due 06/15/28		50,000		48,649

	Principal Amount		Value
4.600% due 06/01/32		$35,000		$34,008
				24,395,385
Total Corporate Bonds & Notes (Cost $339,895,491)				306,249,900
MORTGAGE-BACKED SECURITIES - 28.9%
Collateralized Mortgage Obligations - Commercial - 1.8%
Bank
1.844% due 03/15/63		131,250		104,899
1.997% due 11/15/53		250,000		198,191
2.470% due 09/15/64		500,000		410,124
2.649% due 01/15/63		200,000		171,245
2.920% due 12/15/52		200,000		174,616
3.175% due 09/15/60		200,000		184,376
Bank 2017-BNK4 3.625% due 05/15/50		500,000		469,038
BBCMS Mortgage Trust
2.299% due 02/15/54		300,000		245,658
2.639% due 02/15/53		200,000		171,736
3.662% due 04/15/55 §		300,000		268,714
Benchmark Mortgage Trust
1.850% due 09/15/53		250,000		199,667
1.925% due 07/15/53		197,917		158,892
2.576% due 11/15/54		350,000		287,246
2.577% due 04/15/54		200,000		165,652
2.732% due 02/15/53		200,000		171,445
4.121% due 07/15/51 §		200,000		190,254
CD Mortgage Trust 3.456% due 11/13/50		175,000		161,628
Citigroup Commercial Mortgage Trust
3.372% due 10/10/47		285,194		275,342
3.778% due 09/10/58		600,000		575,805
Commercial Mortgage Trust
3.525% due 02/10/49		162,748		157,503
3.819% due 06/10/47		300,000		292,048
4.228% due 05/10/51		400,000		381,025
CSAIL Commercial Mortgage Trust 3.458% due 11/15/50 §		600,000		552,518
Fannie Mae - Aces
1.270% due 07/25/30		200,000		162,975
1.464% due 02/25/31 §		245,000		199,429
1.669% due 10/25/31 §		250,000		203,648
1.682% due 11/25/32 §		500,000		398,975
1.821% due 02/25/30		48,200		41,353
2.723% due 10/25/24		133,349		128,518
2.906% due 01/25/28 §		475,301		447,552
2.980% due 08/25/29		499,838		467,804
2.990% due 12/25/27 §		135,132		128,618
3.061% due 05/25/27 §		173,782		166,044
3.631% due 08/25/30 §		300,000		290,758
Freddie Mac 3.303% due 11/25/27 §		609,000		586,430
Freddie Mac Multifamily Structured Pass-Through Certificates
1.350% due 05/25/30		575,000		475,878
1.406% due 08/25/30		250,000		206,218
1.477% due 04/25/30		107,143		89,827
1.517% due 03/25/30		222,222		187,204
1.547% due 10/25/30		200,000		165,852
1.558% due 04/25/30		140,000		117,911
1.621% due 12/25/30		186,667		155,413
1.872% due 01/25/30		166,667		144,039
1.940% due 02/25/35		352,000		272,336
2.020% due 03/25/31		250,000		213,832
2.361% due 10/25/36		250,000		193,364
2.524% due 10/25/29		200,000		181,104
2.673% due 03/25/26 - 09/25/29		800,000		755,569
2.745% due 01/25/26		400,000		383,086
2.862% due 05/25/26		495,353		475,026
2.946% due 07/25/24		644,569		629,486

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
3.171% due 10/25/24		$850,000		$828,899
3.208% due 02/25/26		375,000		363,633
3.422% due 02/25/29		196,721		188,952
3.800% due 10/25/32 §		350,000		338,762
3.926% due 06/25/28		100,000		98,809
3.990% due 08/25/33 §		42,000		41,173
GS Mortgage Securities Trust 3.734% due 11/10/48		1,000,000		952,468
JPMBB Commercial Mortgage Securities Trust 4.274% due 12/15/48		600,000		547,457
JPMDB Commercial Mortgage Securities Trust 2.180% due 05/13/53		300,000		246,073
Morgan Stanley Bank of America Merrill Lynch Trust
3.720% due 12/15/49		570,000		537,161
3.753% due 12/15/47		700,000		672,036
Morgan Stanley Capital I Trust
2.728% due 05/15/54		250,000		208,834
3.596% due 12/15/49		400,000		375,353
Wells Fargo Commercial Mortgage Trust
2.626% due 04/15/54		250,000		206,901
2.652% due 08/15/49		350,000		320,674
2.925% due 04/15/50		300,000		285,773
3.453% due 07/15/50		500,000		463,712
4.184% due 06/15/51		200,000		190,235
				20,702,776
Fannie Mae - 14.9%
due 04/17/38 #		7,650,000		1,914,766
due 04/13/53 #		21,525,000		25,427,727
1.500% due 12/01/35 - 11/01/51		13,703,242		11,440,063
2.000% due 11/01/35 - 04/01/52		61,906,610		52,038,936
2.500% due 10/01/27 - 04/01/52		36,188,449		31,700,530
3.000% due 02/01/27 - 05/01/52		21,125,943		19,322,719
3.246% (USD LIBOR + 1.695%) due 06/01/38 §		751		734
3.500% due 10/01/25 - 06/01/52		13,074,776		12,393,725
3.940% (USD LIBOR + 1.690%) due 08/01/39 §		2,368		2,367
4.000% due 04/01/24 - 10/01/52		11,528,332		11,182,159
4.500% due 05/01/24 - 08/01/52		6,340,963		6,278,245
5.000% due 09/01/23 - 10/01/52		1,323,693		1,346,415
5.500% due 11/01/33 - 02/01/53		1,163,610		1,196,694
6.000% due 09/01/34 - 02/01/53		1,416,180		1,452,225
6.500% due 09/01/36 - 07/01/38		39,971		41,366
				175,738,671
Freddie Mac - 6.2%
1.500% due 02/01/37 - 05/01/51		5,071,735		4,232,524
2.000% due 09/01/35 - 03/01/52		25,770,775		21,859,197
2.500% due 08/01/28 - 01/01/52		23,232,820		20,311,009
3.000% due 09/01/26 - 03/01/52		10,762,288		9,900,653
3.500% due 03/01/26 - 09/01/52		8,610,577		8,132,885
4.000% due 02/01/25 - 01/01/48		2,942,331		2,877,283
4.500% due 08/01/24 - 12/01/52		2,149,805		2,143,973
5.000% due 12/01/31 - 02/01/53		2,849,890		2,865,930
5.500% due 04/01/34 - 12/01/52		428,713		443,679
6.000% due 04/01/36 - 05/01/40		345,414		362,792
6.500% due 08/01/37 - 04/01/39		27,679		29,020
				73,158,945
Government National Mortgage Association - 6.0%
due 04/20/53 #		8,000,000		7,811,392
due 04/20/53 #		5,050,000		4,778,831
2.000% due 10/20/50 - 04/20/53		17,598,257		15,002,998
2.500% due 01/20/43 - 05/20/52		17,062,224		15,066,924
3.000% due 08/20/42 - 12/20/51		11,307,706		10,419,084
3.500% due 10/15/41 - 06/20/52		8,648,972		8,224,296
4.000% due 06/15/39 - 11/20/52		4,580,373		4,463,159

	Principal Amount		Value
4.500% due 02/15/39 - 12/20/52		$3,073,023		$3,062,258
5.000% due 05/15/36 - 11/20/52		1,422,981		1,444,239
5.500% due 04/15/37 - 04/15/40		185,372		193,385
6.000% due 01/15/38 - 06/15/41		67,029		70,495
6.500% due 10/15/38 - 02/15/39		18,272		18,978
				70,556,039
Total Mortgage-Backed Securities (Cost $378,296,691)				340,156,431
ASSET-BACKED SECURITIES - 0.4%
American Express Credit Account Master Trust
0.900% due 11/15/26		109,000		102,506
3.750% due 08/15/27		350,000		344,046
Americredit Automobile Receivables Trust 5.620% due 11/18/27		97,000		98,457
BA Credit Card Trust 0.440% due 09/15/26		27,000		25,776
Capital One Multi-Asset Execution Trust 1.040% due 11/15/26		350,000		329,600
Capital One Prime Auto Receivables Trust 4.870% due 02/15/28		175,000		176,304
CarMax Auto Owner Trust 4.750% due 10/15/27		180,000		180,317
Chase Issuance Trust 3.970% due 09/15/27		180,000		177,699
Citibank Credit Card Issuance Trust 6.150% due 06/15/39		250,000		281,463
Discover Card Execution Note Trust
1.030% due 09/15/28		272,000		242,819
5.030% due 10/15/27		100,000		101,378
Ford Credit Auto Owner Trust 1.290% due 06/15/26		182,000		174,354
GM Financial Automobile Leasing Trust 3.420% due 06/20/25		400,000		393,060
GM Financial Consumer Automobile Receivables Trust 4.660% due 02/16/28		55,000		55,217
Harley-Davidson Motorcycle Trust 5.050% due 12/15/27		300,000		303,131
Honda Auto Receivables Owner Trust 5.040% due 04/21/27		67,000		67,543
Santander Drive Auto Receivables Trust 3.760% due 07/16/29		300,000		289,662
Synchrony Card Funding LLC 3.370% due 04/15/28		180,000		174,850
Toyota Auto Receivables Owner Trust 1.230% due 06/15/26		250,000		238,648
Verizon Master Trust 0.500% due 05/20/27		350,000		332,906
World Omni Auto Receivables Trust 0.840% due 09/15/27		272,000		250,020
Total Asset-Backed Securities (Cost $4,468,074)				4,339,756
U.S. GOVERNMENT AGENCY ISSUES - 1.1%
Fannie Mae
0.375% due 08/25/25		95,000		86,996
0.500% due 11/07/25		1,115,000		1,020,382
0.625% due 04/22/25		430,000		399,876
0.750% due 10/08/27		300,000		263,298
0.875% due 08/05/30		500,000		408,446
2.625% due 09/06/24		960,000		937,312
5.625% due 07/15/37		100,000		116,137
6.625% due 11/15/30		500,000		592,748
7.125% due 01/15/30		525,000		629,175
Federal Farm Credit Banks Funding Corp. 3.375% due 08/26/24		1,000,000		988,082

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

216

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Federal Home Loan Bank
0.375% due 09/04/25		$475,000		$436,476
0.500% due 04/14/25		500,000		465,173
1.250% due 12/21/26		300,000		273,303
5.500% due 07/15/36		100,000		114,325
Federal Home Loan Banks
3.250% due 11/16/28		1,000,000		974,200
4.500% due 10/03/24		750,000		751,707
Freddie Mac
0.375% due 07/21/25		680,000		625,761
0.375% due 09/23/25		825,000		753,906
1.500% due 02/12/25		1,250,000		1,190,086
2.750% due 06/28/24		850,000		832,213
6.250% due 07/15/32		475,000		566,636
Tennessee Valley Authority
3.500% due 12/15/42		100,000		84,912
3.875% due 03/15/28		318,000		318,228
4.250% due 09/15/65		200,000		188,161
5.250% due 09/15/39		25,000		26,710
5.375% due 04/01/56		50,000		56,593
6.750% due 11/01/25		150,000		159,922
7.125% due 05/01/30		50,000		59,253
Total U.S. Government Agency Issues (Cost $13,909,687)				13,320,017
U.S. TREASURY OBLIGATIONS - 40.8%
U.S. Treasury Bonds - 8.2%
1.125% due 05/15/40		1,750,000		1,166,006
1.125% due 08/15/40		3,700,000		2,448,793
1.250% due 05/15/50		3,350,000		1,949,543
1.375% due 11/15/40		4,500,000		3,103,418
1.375% due 08/15/50		3,600,000		2,164,078
1.625% due 11/15/50		3,100,000		1,989,813
1.750% due 08/15/41		4,750,000		3,443,008
1.875% due 02/15/41		3,100,000		2,321,186
1.875% due 02/15/51		3,100,000		2,119,141
1.875% due 11/15/51		2,900,000		1,976,021
2.000% due 11/15/41		4,500,000		3,399,873
2.000% due 02/15/50		2,250,000		1,596,094
2.000% due 08/15/51		4,200,000		2,956,160
2.250% due 05/15/41		1,200,000		954,023
2.250% due 08/15/46		2,150,000		1,624,258
2.250% due 08/15/49		2,850,000		2,144,848
2.250% due 02/15/52		2,700,000		2,014,770
2.375% due 02/15/42		3,250,000		2,615,298
2.375% due 11/15/49		1,950,000		1,507,746
2.375% due 05/15/51		3,500,000		2,689,053
2.500% due 02/15/45		2,800,000		2,236,445
2.500% due 02/15/46		2,600,000		2,067,203
2.500% due 05/15/46		1,000,000		794,844
2.750% due 08/15/42		450,000		383,256
2.750% due 11/15/42		1,850,000		1,570,368
2.750% due 11/15/47		2,500,000		2,081,689
2.875% due 08/15/45		1,000,000		852,949
2.875% due 05/15/49		1,275,000		1,091,818
2.875% due 05/15/52		2,750,000		2,353,667
3.000% due 05/15/42		1,075,000		955,469
3.000% due 05/15/45		1,500,000		1,307,490
3.000% due 11/15/45		1,900,000		1,654,967
3.000% due 02/15/47		500,000		435,488
3.000% due 05/15/47		1,700,000		1,480,859
3.000% due 02/15/48		2,000,000		1,745,938
3.000% due 08/15/48		1,500,000		1,310,859
3.000% due 02/15/49		2,000,000		1,752,188
3.000% due 08/15/52		1,500,000		1,318,125
3.125% due 11/15/41		975,000		889,573
3.125% due 02/15/43		1,000,000		899,980
3.125% due 08/15/44		600,000		535,805
3.125% due 05/15/48		2,700,000		2,411,648
3.250% due 05/15/42		1,000,000		923,203

	Principal Amount		Value
3.375% due 08/15/42		$3,000,000		$2,818,125
3.625% due 08/15/43		1,525,000		1,481,514
3.625% due 02/15/44		500,000		484,082
3.625% due 02/15/53		1,350,000		1,340,613
3.750% due 08/15/41		1,300,000		1,299,111
3.750% due 11/15/43		1,000,000		988,574
3.875% due 02/15/43		750,000		756,855
4.000% due 11/15/52		2,200,000		2,335,438
4.250% due 11/15/40		750,000		805,781
4.375% due 05/15/40		1,025,000		1,119,452
4.375% due 05/15/41		775,000		843,842
4.500% due 02/15/36		1,750,000		1,947,388
4.500% due 05/15/38		500,000		554,922
4.500% due 08/15/39		700,000		777,807
4.750% due 02/15/41		1,350,000		1,539,053
5.375% due 02/15/31		1,100,000		1,240,852
6.250% due 05/15/30		1,050,000		1,227,905
				96,798,275
U.S. Treasury Notes - 32.6%
0.250% due 06/15/24		2,500,000		2,378,174
0.250% due 05/31/25		2,750,000		2,538,271
0.250% due 06/30/25		3,500,000		3,226,904
0.250% due 07/31/25		5,000,000		4,593,262
0.250% due 08/31/25		3,500,000		3,207,285
0.250% due 09/30/25		4,200,000		3,844,641
0.250% due 10/31/25		6,000,000		5,472,305
0.375% due 07/15/24		5,000,000		4,750,684
0.375% due 04/30/25		3,000,000		2,783,320
0.375% due 11/30/25		2,500,000		2,281,201
0.375% due 12/31/25		3,500,000		3,191,221
0.375% due 01/31/26		4,000,000		3,632,188
0.500% due 03/31/25		3,000,000		2,798,848
0.500% due 02/28/26		3,500,000		3,182,061
0.500% due 05/31/27		3,500,000		3,072,412
0.500% due 06/30/27		1,000,000		876,172
0.500% due 08/31/27		2,500,000		2,179,785
0.500% due 10/31/27		2,000,000		1,736,094
0.625% due 10/15/24		2,750,000		2,601,650
0.625% due 07/31/26		3,250,000		2,932,554
0.625% due 12/31/27		5,000,000		4,349,902
0.625% due 05/15/30		3,350,000		2,743,467
0.625% due 08/15/30		3,400,000		2,771,730
0.750% due 11/15/24		3,500,000		3,309,687
0.750% due 03/31/26		2,500,000		2,287,891
0.750% due 04/30/26		2,500,000		2,279,883
0.750% due 05/31/26		3,000,000		2,729,648
0.750% due 08/31/26		3,000,000		2,712,188
0.750% due 01/31/28		2,500,000		2,184,326
0.875% due 06/30/26		4,500,000		4,104,580
0.875% due 09/30/26		2,950,000		2,672,516
0.875% due 11/15/30		4,250,000		3,519,614
1.000% due 12/15/24		2,000,000		1,895,820
1.000% due 07/31/28		2,000,000		1,748,711
1.125% due 01/15/25		3,000,000		2,843,906
1.125% due 02/28/25		3,500,000		3,310,371
1.125% due 10/31/26		5,000,000		4,561,719
1.125% due 02/28/27		750,000		680,889
1.125% due 02/29/28		2,750,000		2,443,042
1.125% due 08/31/28		2,750,000		2,415,435
1.125% due 02/15/31		3,500,000		2,948,408
1.250% due 08/31/24		3,250,000		3,112,954
1.250% due 11/30/26		5,000,000		4,575,293
1.250% due 12/31/26		3,500,000		3,197,988
1.250% due 03/31/28		4,000,000		3,568,984
1.250% due 04/30/28		2,500,000		2,226,709
1.250% due 05/31/28		3,000,000		2,668,535
1.250% due 06/30/28		1,500,000		1,331,807
1.250% due 09/30/28		3,000,000		2,648,027
1.250% due 08/15/31		5,500,000		4,615,059
1.375% due 01/31/25		4,000,000		3,807,891

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

217

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
1.375% due 08/31/26		$3,500,000		$3,231,895
1.375% due 10/31/28		5,000,000		4,437,402
1.375% due 12/31/28		2,400,000		2,126,484
1.375% due 11/15/31		7,500,000		6,332,520
1.500% due 09/30/24		3,000,000		2,879,297
1.500% due 10/31/24		2,000,000		1,916,484
1.500% due 02/15/25		2,000,000		1,905,859
1.500% due 08/15/26		3,200,000		2,971,187
1.500% due 01/31/27		3,500,000		3,223,145
1.500% due 11/30/28		2,500,000		2,230,713
1.500% due 02/15/30		3,250,000		2,850,098
1.625% due 02/15/26		1,900,000		1,787,521
1.625% due 05/15/26		1,300,000		1,217,607
1.625% due 10/31/26		5,500,000		5,111,025
1.625% due 08/15/29		2,000,000		1,784,531
1.625% due 05/15/31		6,000,000		5,216,484
1.750% due 12/31/24		1,600,000		1,535,469
1.750% due 03/15/25		1,500,000		1,435,049
1.750% due 12/31/26		2,500,000		2,328,516
1.750% due 01/31/29		1,500,000		1,354,365
1.875% due 08/31/24		3,000,000		2,899,043
1.875% due 07/31/26		1,000,000		941,094
1.875% due 02/28/27		3,000,000		2,800,020
1.875% due 02/28/29		3,000,000		2,726,309
1.875% due 02/15/32		3,500,000		3,072,754
2.000% due 05/31/24		3,500,000		3,403,066
2.000% due 02/15/25		2,000,000		1,923,516
2.000% due 11/15/26		1,000,000		940,859
2.125% due 05/15/25		3,500,000		3,365,879
2.125% due 05/31/26		3,000,000		2,852,109
2.250% due 04/30/24		3,250,000		3,169,931
2.250% due 10/31/24		800,000		775,516
2.250% due 11/15/24		2,000,000		1,937,852
2.250% due 12/31/24		2,500,000		2,418,994
2.250% due 11/15/25		2,200,000		2,111,656
2.250% due 08/15/27		4,200,000		3,963,504
2.250% due 11/15/27		2,300,000		2,164,201
2.375% due 08/15/24		9,550,000		9,298,939
2.375% due 04/30/26		1,000,000		959,414
2.375% due 05/15/27		2,750,000		2,612,983
2.375% due 03/31/29		2,675,000		2,498,042
2.375% due 05/15/29		1,000,000		933,320
2.500% due 05/15/24		5,000,000		4,891,602
2.500% due 05/31/24		1,500,000		1,466,836
2.500% due 01/31/25		4,000,000		3,885,234
2.500% due 03/31/27		2,500,000		2,388,330
2.625% due 04/15/25		2,000,000		1,944,141
2.625% due 05/31/27		2,500,000		2,397,705
2.625% due 02/15/29		2,750,000		2,608,364
2.625% due 07/31/29		2,000,000		1,892,109
2.750% due 04/30/27		2,000,000		1,928,086
2.750% due 07/31/27		1,500,000		1,444,922
2.750% due 02/15/28		3,500,000		3,362,939
2.750% due 05/31/29		2,000,000		1,906,797
2.750% due 08/15/32		3,000,000		2,823,984
2.875% due 05/31/25		1,200,000		1,171,852
2.875% due 06/15/25		1,000,000		976,641
2.875% due 05/15/28		2,500,000		2,412,256
2.875% due 08/15/28		1,750,000		1,686,050
2.875% due 04/30/29		2,000,000		1,920,742
2.875% due 05/15/32		3,500,000		3,331,562
3.000% due 06/30/24		2,000,000		1,964,805
3.000% due 07/31/24		3,500,000		3,437,383
3.000% due 07/15/25		1,500,000		1,468,301
3.125% due 08/31/27		2,500,000		2,445,898
3.125% due 11/15/28		3,000,000		2,925,469
3.125% due 08/31/29		3,000,000		2,920,898
3.250% due 08/31/24		2,000,000		1,970,078
3.250% due 06/30/27		4,000,000		3,932,031
3.250% due 06/30/29		1,750,000		1,716,162
3.500% due 01/31/28		1,000,000		994,922
3.500% due 01/31/30		1,500,000		1,494,141

	Principal Amount		Value
3.500% due 02/15/33		$3,500,000		$3,505,742
3.625% due 03/31/28		750,000		751,289
3.625% due 03/31/30		2,000,000		2,009,688
3.875% due 03/31/25		2,000,000		1,994,023
3.875% due 11/30/27		2,500,000		2,526,416
3.875% due 12/31/27		1,500,000		1,516,084
3.875% due 09/30/29		1,500,000		1,525,020
3.875% due 12/31/29		2,000,000		2,036,563
4.000% due 12/15/25		3,000,000		3,012,129
4.000% due 02/29/28		5,000,000		5,090,820
4.000% due 10/31/29		1,500,000		1,536,563
4.000% due 02/28/30		2,000,000		2,053,125
4.125% due 09/30/27		1,000,000		1,019,063
4.125% due 10/31/27		3,000,000		3,058,125
4.125% due 11/15/32		3,450,000		3,625,734
4.250% due 12/31/24		3,500,000		3,503,623
4.375% due 10/31/24		1,000,000		1,001,348
4.500% due 11/30/24		3,500,000		3,514,355
4.500% due 11/15/25		3,500,000		3,552,295
4.625% due 03/15/26		2,000,000		2,045,703
				383,778,612
Total U.S. Treasury Obligations (Cost $525,210,504)				480,576,887
FOREIGN GOVERNMENT BONDS & NOTES - 1.6%
Canada Government (Canada)
0.750% due 05/19/26		300,000		272,786
1.625% due 01/22/25		150,000		143,506
Chile Government (Chile)
2.550% due 07/27/33		250,000		206,159
3.100% due 01/22/61		400,000		261,523
3.125% due 01/21/26		75,000		72,832
3.500% due 01/31/34		200,000		178,483
3.860% due 06/21/47		300,000		246,365
Export Development Canada (Canada)
3.000% due 05/25/27		200,000		194,136
3.375% due 08/26/25		90,000		88,709
3.875% due 02/14/28		100,000		100,609
Export-Import Bank of Korea (South Korea)
0.625% due 02/09/26		200,000		178,627
1.625% due 01/18/27		400,000		361,010
5.125% due 01/11/33		200,000		208,265
Indonesia Government (Indonesia)
2.850% due 02/14/30		200,000		181,053
3.200% due 09/23/61		200,000		139,793
3.550% due 03/31/32		200,000		183,868
4.200% due 10/15/50		300,000		259,893
4.550% due 01/11/28		200,000		200,212
4.850% due 01/11/33		200,000		199,289
Israel Government AID 5.500% due 04/26/24		25,000		25,231
Israel Government International (Israel) 2.750% due 07/03/30		200,000		181,187
Japan Bank for International Cooperation (Japan)
0.625% due 07/15/25		235,000		215,894
1.250% due 01/21/31		500,000		405,319
1.875% due 07/21/26		200,000		185,416
1.875% due 04/15/31		200,000		169,505
2.500% due 05/23/24		200,000		195,230
3.250% due 07/20/28		200,000		191,590
4.250% due 01/26/26		500,000		500,600
Japan International Cooperation Agency (Japan) 3.375% due 06/12/28		200,000		191,385
Korea Development Bank (South Korea)
2.000% due 09/12/26		200,000		183,094
4.000% due 09/08/25		200,000		197,268
4.250% due 09/08/32		200,000		196,731

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

218

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Korea International (South Korea)
1.750% due 10/15/31		$200,000		$169,668
2.750% due 01/19/27		200,000		192,263
Mexico Government (Mexico)
2.659% due 05/24/31		200,000		167,410
3.500% due 02/12/34		200,000		170,062
3.900% due 04/27/25		350,000		346,514
4.150% due 03/28/27		200,000		196,646
4.280% due 08/14/41		200,000		163,928
4.400% due 02/12/52		400,000		313,540
4.500% due 01/31/50		200,000		161,766
4.600% due 01/23/46		250,000		206,270
4.600% due 02/10/48		200,000		163,772
4.750% due 04/27/32		350,000		336,906
4.750% due 03/08/44		264,000		225,003
6.750% due 09/27/34		225,000		248,412
Panama Government (Panama)
3.870% due 07/23/60		200,000		131,580
4.500% due 05/15/47		350,000		275,368
6.400% due 02/14/35		265,000		276,907
6.700% due 01/26/36		100,000		106,083
6.853% due 03/28/54		200,000		205,566
8.875% due 09/30/27		100,000		116,424
Peruvian Government (Peru)
2.780% due 12/01/60		200,000		119,720
2.783% due 01/23/31		300,000		256,805
3.300% due 03/11/41		250,000		188,110
4.125% due 08/25/27		150,000		147,321
8.750% due 11/21/33		200,000		252,539
Philippine Government (Philippines)
1.648% due 06/10/31		200,000		160,890
2.650% due 12/10/45		200,000		137,538
2.950% due 05/05/45		200,000		144,536
3.000% due 02/01/28		200,000		188,648
5.609% due 04/13/33		200,000		213,064
6.375% due 10/23/34		250,000		281,250
7.750% due 01/14/31		200,000		236,525
Philippines Government (Philippines) 5.000% due 07/17/33		200,000		203,493
Province of Alberta Canada (Canada)
1.300% due 07/22/30		250,000		207,719
1.875% due 11/13/24		350,000		335,976
Province of British Columbia Canada (Canada) 1.300% due 01/29/31		500,000		416,253
Province of Manitoba Canada (Canada) 1.500% due 10/25/28		155,000		136,588
Province of New Brunswick Canada (Canada) 3.625% due 02/24/28		50,000		49,103
Province of Ontario Canada (Canada)
0.625% due 01/21/26		300,000		272,785
1.050% due 04/14/26		200,000		183,084
1.050% due 05/21/27		200,000		178,208
2.000% due 10/02/29		100,000		89,101
2.125% due 01/21/32		150,000		130,140
2.300% due 06/15/26		250,000		236,866
Province of Quebec Canada (Canada)
0.600% due 07/23/25		100,000		92,319
1.350% due 05/28/30		50,000		42,163
1.500% due 02/11/25		350,000		332,856
1.900% due 04/21/31		200,000		172,691
2.500% due 04/09/24		65,000		63,580
7.500% due 09/15/29		75,000		89,503
Republic of Italy Government International Bond (Italy)
0.875% due 05/06/24		200,000		190,290
2.875% due 10/17/29		200,000		174,264
3.875% due 05/06/51		200,000		143,691
4.000% due 10/17/49		200,000		152,614
Republic of Poland Government (Poland) 5.750% due 11/16/32		65,000		69,225
State of Israel (Israel) 3.375% due 01/15/50		500,000		384,119

	Principal Amount		Value
Svensk Exportkredit AB (Sweden)
0.375% due 07/30/24		$250,000		$236,749
0.625% due 10/07/24		560,000		528,914
Uruguay Government International Bond (Uruguay)
4.125% due 11/20/45		143,467		132,603
4.375% due 10/27/27		200,000		200,594
5.100% due 06/18/50		200,000		200,916
Total Foreign Government Bonds & Notes (Cost $20,777,358)				18,663,009
MUNICIPAL BONDS - 0.6%
American Municipal Power, Inc.
6.449% due 02/15/44		25,000		28,568
8.084% due 02/15/50		300,000		415,650
Bay Area Toll Authority CA
6.263% due 04/01/49		25,000		30,392
7.043% due 04/01/50		50,000		64,981
California State University 2.975% due 11/01/51		50,000		35,712
Central Puget Sound Regional Transit Authority 5.491% due 11/01/39		25,000		27,443
Chicago O’Hare International Airport 4.472% due 01/01/49		50,000		47,174
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue IL 6.899% due 12/01/40		95,000		109,886
City of Atlanta GA Water & Wastewater Revenue 2.257% due 11/01/35		100,000		81,585
City of Chicago 7.750% due 01/01/42		42,000		44,036
City of Houston TX 3.961% due 03/01/47		50,000		44,509
City of New York NY 5.517% due 10/01/37		40,000		43,097
City of San Antonio TX Electric & Gas Systems Revenue 2.905% due 02/01/48		60,000		43,714
Commonwealth of Massachusetts
4.910% due 05/01/29		100,000		101,850
5.456% due 12/01/39		25,000		26,926
County of Clark Department of Aviation NV 6.820% due 07/01/45		125,000		155,278
Dallas Area Rapid Transit 2.613% due 12/01/48		200,000		140,276
Dallas Fort Worth International Airport 4.507% due 11/01/51		100,000		92,680
Dallas Independent School District 6.450% due 02/15/35		50,000		50,621
Golden State Tobacco Securitization Corp. 4.214% due 06/01/50		150,000		117,826
Grand Parkway Transportation Corp. 3.236% due 10/01/52		250,000		187,793
JobsOhio Beverage System 2.833% due 01/01/38		10,000		8,205
Los Angeles Unified School District CA 6.758% due 07/01/34		100,000		115,918
Massachusetts School Building Authority
2.950% due 05/15/43		50,000		39,600
3.395% due 10/15/40		20,000		16,823
Metropolitan Transportation Authority NY
5.871% due 11/15/39		25,000		25,117
6.668% due 11/15/39		55,000		59,395
Municipal Electric Authority of Georgia
6.637% due 04/01/57		25,000		27,465
6.655% due 04/01/57		96,000		106,443
New Jersey Economic Development Authority 7.425% due 02/15/29		125,000		136,587

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

219

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
New Jersey Turnpike Authority 7.102% due 01/01/41		$100,000		$123,544
New York City Municipal Water Finance Authority
5.952% due 06/15/42		50,000		57,398
6.011% due 06/15/42		10,000		11,544
New York City Transitional Finance Authority Future Tax Secured Revenue NY 5.572% due 11/01/38		30,000		32,020
New York State Dormitory Authority 3.142% due 07/01/43		100,000		82,468
New York State Urban Development Corp.
3.900% due 03/15/33		50,000		47,448
5.770% due 03/15/39		25,000		26,206
Pennsylvania Turnpike Commission 5.511% due 12/01/45		75,000		82,463
Permanent University Fund - University of Texas System 3.376% due 07/01/47		185,000		150,938
Port Authority of New York & New Jersey
3.175% due 07/15/60		250,000		178,469
4.031% due 09/01/48		50,000		44,408
4.229% due 10/15/57		30,000		27,005
4.458% due 10/01/62		100,000		93,731
5.647% due 11/01/40		150,000		162,395
Rutgers The State University of New Jersey 3.915% due 05/01/19		15,000		11,252
Sales Tax Securitization Corp. 4.787% due 01/01/48		50,000		47,773
San Diego County Regional Transportation Commission CA 5.911% due 04/01/48		50,000		56,628
State Board of Administration Finance Corp. 2.154% due 07/01/30		100,000		84,914
State of California
1.700% due 02/01/28		200,000		177,330
3.500% due 04/01/28		100,000		96,344
5.125% due 03/01/38		200,000		204,557
7.300% due 10/01/39		100,000		124,313
7.500% due 04/01/34		50,000		62,581
7.600% due 11/01/40		270,000		356,206
7.625% due 03/01/40		40,000		51,812
State of Connecticut 5.090% due 10/01/30		50,000		51,128
State of Illinois 6.725% due 04/01/35		400,000		426,964
State of Texas 5.517% due 04/01/39		100,000		110,087
State of Utah 4.554% due 07/01/24		5,000		4,986
State of Wisconsin 3.154% due 05/01/27		250,000		239,299
Texas Transportation Commission 2.562% due 04/01/42		350,000		268,230
Texas Transportation Commission State Highway Fund 5.178% due 04/01/30		25,000		25,883
University of California
3.063% due 07/01/25		50,000		48,766
4.132% due 05/15/32		100,000		96,186
4.767% due 05/15/15		75,000		68,400
4.858% due 05/15/12		100,000		93,467
University of Michigan
3.599% due 04/01/47		80,000		71,195
4.454% due 04/01/22		100,000		90,601
Total Municipal Bonds (Cost $6,877,312)				6,414,489

	Shares		Value
SHORT-TERM INVESTMENT - 4.2%
Money Market Fund - 4.2%
BlackRock Liquidity Funds T-Fund Institutional Shares 4.700%		49,722,745		$49,722,745
Total Short-Term Investment (Cost $49,722,745)				49,722,745
TOTAL INVESTMENTS - 103.6% (Cost $1,339,157,862)				1,219,443,234
OTHER ASSETS & LIABILITIES, NET - (3.6%)				(41,901,192	)
NET ASSETS - 100.0%				$1,177,542,042

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

220

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PD AGGREGATE BOND INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Note to Schedule of Investments

(a) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Corporate Bonds & Notes		$306,249,900		$-		$306,249,900		$-
	Mortgage-Backed Securities		340,156,431		-		340,156,431		-
	Asset-Backed Securities		4,339,756		-		4,339,756		-
	U.S. Government Agency Issues		13,320,017		-		13,320,017		-
	U.S. Treasury Obligations		480,576,887		-		480,576,887		-
	Foreign Government Bonds & Notes		18,663,009		-		18,663,009		-
	Municipal Bonds		6,414,489		-		6,414,489		-
	Short-Term Investment		49,722,745		49,722,745		-		-
	Total		$1,219,443,234		$49,722,745		$1,169,720,489		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

221

PACIFIC SELECT FUND

PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 0.0%
Energy - 0.0%
Patterson-UTI Energy, Inc.		306		$3,580
Financial - 0.0%
Stearns Holdings LLC Class B * W ±		3,570		-
Total Common Stocks (Cost $44,991)				3,580
	Principal Amount
CORPORATE BONDS & NOTES - 97.0%
Basic Materials - 4.9%
Arconic Corp. 6.000% due 05/15/25 ~		$90,000		90,225
Ashland LLC
3.375% due 09/01/31 ~		200,000		163,798
6.875% due 05/15/43		128,000		128,970
ATI, Inc.
4.875% due 10/01/29		200,000		182,316
5.125% due 10/01/31		50,000		45,573
5.875% due 12/01/27		200,000		195,621
Carpenter Technology Corp. 6.375% due 07/15/28		125,000		122,052
Cerdia Finanz GmbH (Germany) 10.500% due 02/15/27 ~		355,000		326,523
Chemours Co.
4.625% due 11/15/29 ~		100,000		82,591
5.750% due 11/15/28 ~		170,000		151,967
Cleveland-Cliffs, Inc.
4.625% due 03/01/29 ~		120,000		110,233
6.250% due 10/01/40		100,000		84,688
6.750% due 03/15/26 ~		137,000		139,603
Coeur Mining, Inc. 5.125% due 02/15/29 ~		300,000		254,635
Commercial Metals Co.
3.875% due 02/15/31		200,000		169,794
4.125% due 01/15/30		95,000		83,938
4.375% due 03/15/32		90,000		77,558
4.875% due 05/15/23		100,000		99,985
Compass Minerals International, Inc.
4.875% due 07/15/24 ~		50,000		47,549
6.750% due 12/01/27 ~		135,000		128,656
Consolidated Energy Finance SA (Switzerland) 5.625% due 10/15/28 ~		200,000		172,256
Constellium SE 5.625% due 06/15/28 ~		250,000		236,309
Cornerstone Chemical Co. 8.250% Cash or 2.000% PIK due 09/01/27 ~		150,000		135,187
CVR Partners LP/CVR Nitrogen Finance Corp. 6.125% due 06/15/28 ~		150,000		133,141
FMG Resources August 2006 Pty. Ltd. (Australia)
4.375% due 04/01/31 ~		474,000		416,416
5.125% due 05/15/24 ~		90,000		89,131
5.875% due 04/15/30 ~		275,000		263,942
GPD Cos., Inc. 10.125% due 04/01/26 ~		225,000		204,817
HB Fuller Co. 4.250% due 10/15/28		225,000		199,860

	Principal Amount		Value
Herens Holdco SARL (Luxembourg) 4.750% due 05/15/28 ~		$200,000		$161,213
Hudbay Minerals, Inc. (Canada) 6.125% due 04/01/29 ~		350,000		331,091
INEOS Finance PLC (Luxembourg) 6.750% due 05/15/28 ~		250,000		241,624
Ingevity Corp. 3.875% due 11/01/28 ~		115,000		98,673
Innophos Holdings, Inc. 9.375% due 02/15/28 ~		125,000		127,912
Kaiser Aluminum Corp.
4.500% due 06/01/31 ~		131,000		107,747
4.625% due 03/01/28 ~		114,000		101,607
Mativ Holdings, Inc. 6.875% due 10/01/26 ~		75,000		68,704
Mercer International, Inc. (Germany)
5.125% due 02/01/29		294,000		252,105
5.500% due 01/15/26		150,000		146,293
Methanex Corp. (Canada)
5.125% due 10/15/27		125,000		117,942
5.650% due 12/01/44		50,000		41,224
Mineral Resources Ltd. (Australia)
8.000% due 11/01/27 ~		175,000		180,162
8.125% due 05/01/27 ~		213,000		216,405
8.500% due 05/01/30 ~		205,000		210,596
New Gold, Inc. (Canada) 7.500% due 07/15/27 ~		165,000		158,976
Novelis Corp. 3.250% due 11/15/26 ~		375,000		343,039
OCI NV (Netherlands) 4.625% due 10/15/25 ~		160,000		152,014
Olympus Water US Holding Corp.
4.250% due 10/01/28 ~		400,000		331,394
6.250% due 10/01/29 ~		150,000		111,167
Rayonier AM Products, Inc. 5.500% due 06/01/24 ~		81,000		81,124
SCIH Salt Holdings, Inc.
4.875% due 05/01/28 ~		221,000		197,291
6.625% due 05/01/29 ~		105,000		87,021
SK Invictus Intermediate II SARL 5.000% due 10/30/29 ~		165,000		137,168
TMS International Corp. 6.250% due 04/15/29 ~		50,000		38,607
Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc. 5.375% due 09/01/25 ~		175,000		142,410
Valvoline, Inc.
3.625% due 06/15/31 ~		195,000		165,807
4.250% due 02/15/30 ~		176,000		172,753
WR Grace Holdings LLC
5.625% due 08/15/29 ~		390,000		331,500
7.375% due 03/01/31 ~		100,000		100,474
				9,491,377
Communications - 16.4%
Acuris Finance Us, Inc./Acuris Finance SARL 5.000% due 05/01/28 ~		200,000		157,263
Altice Financing SA (Luxembourg) 5.750% due 08/15/29 ~		600,000		477,543
Altice France Holding SA (Luxembourg) 10.500% due 05/15/27 ~		205,000		157,010
Altice France SA (France)
5.125% due 01/15/29 ~		350,000		267,125
5.125% due 07/15/29 ~		500,000		376,725
5.500% due 10/15/29 ~		640,000		489,956
AMC Networks, Inc.
4.250% due 02/15/29		248,000		152,742
4.750% due 08/01/25		350,000		310,774
5.000% due 04/01/24		160,000		157,992

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

222

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PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Audacy Capital Corp. 6.500% due 05/01/27 ~		$150,000		$10,976
Cable One, Inc. 4.000% due 11/15/30 ~		410,000		334,204
Cablevision Lightpath LLC 3.875% due 09/15/27 ~		200,000		161,168
CCO Holdings LLC/CCO Holdings Capital Corp.
4.250% due 02/01/31 ~		945,000		773,794
4.250% due 01/15/34 ~		200,000		156,637
4.500% due 08/15/30 ~		500,000		423,068
4.500% due 05/01/32		879,000		719,822
4.750% due 02/01/32 ~		190,000		159,810
5.125% due 05/01/27 ~		100,000		94,624
5.375% due 06/01/29 ~		289,000		265,686
5.500% due 05/01/26 ~		225,000		219,098
6.375% due 09/01/29 ~		270,000		258,093
7.375% due 03/01/31 ~		200,000		197,000
Cengage Learning, Inc. 9.500% due 06/15/24 ~		61,000		59,036
Ciena Corp. 4.000% due 01/31/30 ~		180,000		156,762
Clear Channel Outdoor Holdings, Inc. 7.500% due 06/01/29 ~		225,000		160,110
Cogent Communications Group, Inc. 7.000% due 06/15/27 ~		180,000		178,632
CommScope Technologies LLC 6.000% due 06/15/25 ~		313,000		295,076
CommScope, Inc.
4.750% due 09/01/29 ~		395,000		329,628
6.000% due 03/01/26 ~		230,000		222,227
7.125% due 07/01/28 ~		119,000		87,914
8.250% due 03/01/27 ~		290,000		237,800
Connect Finco SARL/Connect US Finco LLC (United Kingdom) 6.750% due 10/01/26 ~		627,000		589,944
Consolidated Communications, Inc. 6.500% due 10/01/28 ~		102,000		74,184
CSC Holdings LLC
3.375% due 02/15/31 ~		200,000		138,540
4.125% due 12/01/30 ~		200,000		143,819
4.625% due 12/01/30 ~		566,000		279,632
5.000% due 11/15/31 ~		300,000		152,277
5.250% due 06/01/24		204,000		197,093
5.375% due 02/01/28 ~		350,000		287,072
7.500% due 04/01/28 ~		200,000		127,680
Cumulus Media New Holdings, Inc. 6.750% due 07/01/26 ~		50,000		38,061
Directv Financing LLC/Directv Financing Co.-Obligor, Inc. 5.875% due 08/15/27 ~		740,000		670,928
DISH DBS Corp.
5.250% due 12/01/26 ~		875,000		699,799
5.875% due 11/15/24		365,000		325,872
7.375% due 07/01/28		80,000		45,726
7.750% due 07/01/26		618,000		408,520
DISH Network Corp. 11.750% due 11/15/27 ~		725,000		704,015
Frontier Communications Holdings LLC
5.000% due 05/01/28 ~		475,000		412,718
5.875% due 10/15/27 ~		210,000		191,100
6.000% due 01/15/30 ~		200,000		152,332
6.750% due 05/01/29 ~		200,000		158,694
8.625% due 03/15/31 ~		150,000		147,043
8.750% due 05/15/30 ~		270,000		269,213
Gen Digital, Inc.
5.000% due 04/15/25 ~		200,000		196,607
6.750% due 09/30/27 ~		150,000		150,938
7.125% due 09/30/30 ~		74,000		73,697
Getty Images, Inc. 9.750% due 03/01/27 ~		100,000		100,015
Gray Escrow II, Inc. 5.375% due 11/15/31 ~		350,000		232,797

	Principal Amount		Value
Gray Television, Inc.
5.875% due 07/15/26 ~		$75,000		$64,955
7.000% due 05/15/27 ~		340,000		284,981
iHeartCommunications, Inc.
5.250% due 08/15/27 ~		191,000		156,326
6.375% due 05/01/26		200,000		176,687
8.375% due 05/01/27		350,000		254,945
Iliad Holding SASU (France) 6.500% due 10/15/26 ~		500,000		476,960
Intelsat Jackson Holdings SA (Luxembourg) 6.500% due 03/15/30 ~		715,000		657,249
Lamar Media Corp.
3.625% due 01/15/31		120,000		103,308
4.875% due 01/15/29		200,000		188,399
Level 3 Financing, Inc.
3.400% due 03/01/27 ~		240,000		190,042
3.625% due 01/15/29 ~		100,000		55,396
3.875% due 11/15/29 ~		200,000		144,936
4.250% due 07/01/28 ~		175,000		98,914
4.625% due 09/15/27 ~		400,000		240,860
10.500% due 05/15/30		119,420		114,195
Lumen Technologies, Inc.
4.000% due 02/15/27 ~		560,000		370,112
4.500% due 01/15/29 ~		150,000		67,312
Match Group Holdings II LLC
3.625% due 10/01/31 ~		125,000		101,863
4.125% due 08/01/30 ~		150,000		129,350
4.625% due 06/01/28 ~		135,000		125,550
Midcontinent Communications/Midcontinent Finance Corp. 5.375% due 08/15/27 ~		100,000		90,607
Millennium Escrow Corp. 6.625% due 08/01/26 ~		292,000		190,168
Netflix, Inc.
3.625% due 06/15/25 ~		110,000		106,906
4.375% due 11/15/26		205,000		202,878
4.875% due 04/15/28		478,000		476,040
News Corp.
3.875% due 05/15/29 ~		85,000		75,625
5.125% due 02/15/32 ~		404,000		379,352
Nexstar Media, Inc.
4.750% due 11/01/28 ~		285,000		253,804
5.625% due 07/15/27 ~		438,000		405,209
Nokia OYJ (Finland) 6.625% due 05/15/39		50,000		49,952
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.
4.750% due 04/30/27 ~		20,000		17,106
6.000% due 02/15/28 ~		200,000		148,169
Outfront Media Capital LLC/Outfront Media Capital Corp. 5.000% due 08/15/27 ~		115,000		103,723
Paramount Global 6.250% due 02/28/57		292,000		218,804
Qwest Corp. 7.250% due 09/15/25		35,000		32,747
Radiate Holdco LLC/Radiate Finance, Inc. 6.500% due 09/15/28 ~		83,000		34,142
Rakuten Group, Inc. (Japan)
6.250% due 04/22/31 ~		300,000		144,537
10.250% due 11/30/24 ~		200,000		190,250
Scripps Escrow II, Inc.
3.875% due 01/15/29 ~		175,000		137,539
5.375% due 01/15/31 ~		100,000		68,878
Scripps Escrow, Inc. 5.875% due 07/15/27 ~		150,000		110,625
Sirius XM Radio, Inc.
3.125% due 09/01/26 ~		146,000		131,846
4.000% due 07/15/28 ~		625,000		537,500
4.125% due 07/01/30 ~		250,000		204,658
5.000% due 08/01/27 ~		160,000		149,968
5.500% due 07/01/29 ~		560,000		510,275

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

223

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Sprint Capital Corp. 8.750% due 03/15/32		$200,000		$243,712
Sprint LLC
7.125% due 06/15/24		750,000		763,103
7.625% due 02/15/25		600,000		622,720
TEGNA, Inc.
4.625% due 03/15/28		385,000		337,356
4.750% due 03/15/26 ~		141,000		133,925
5.000% due 09/15/29		374,000		323,708
Telecom Italia Capital SA (Italy)
6.000% due 09/30/34		200,000		171,750
7.200% due 07/18/36		250,000		226,444
Telesat Canada/Telesat LLC (Canada) 6.500% due 10/15/27 ~		134,000		42,880
Uber Technologies, Inc. 4.500% due 08/15/29 ~		500,000		456,562
Univision Communications, Inc.
4.500% due 05/01/29 ~		172,000		144,680
6.625% due 06/01/27 ~		255,000		242,021
7.375% due 06/30/30 ~		506,000		478,848
UPC Broadband Finco BV (Netherlands) 4.875% due 07/15/31 ~		500,000		432,982
UPC Holding BV (Netherlands) 5.500% due 01/15/28 ~		200,000		179,317
Videotron Ltd. (Canada)
3.625% due 06/15/29 ~		175,000		149,340
5.125% due 04/15/27 ~		200,000		193,226
Virgin Media Secured Finance PLC (United Kingdom)
4.500% due 08/15/30 ~		200,000		172,231
5.500% due 05/15/29 ~		223,000		207,922
Vmed O2 UK Financing I PLC (United Kingdom) 4.750% due 07/15/31 ~		400,000		343,362
Vodafone Group PLC (United Kingdom)
5.125% due 06/04/81		100,000		70,176
7.000% due 04/04/79		600,000		597,657
VZ Secured Financing BV (Netherlands) 5.000% due 01/15/32 ~		350,000		285,906
Windstream Escrow LLC/Windstream Escrow Finance Corp. 7.750% due 08/15/28 ~		396,000		324,720
Zayo Group Holdings, Inc. 4.000% due 03/01/27 ~		250,000		190,225
Ziff Davis, Inc. 4.625% due 10/15/30 ~		215,000		185,703
Ziggo Bond Co. BV (Netherlands) 5.125% due 02/28/30 ~		200,000		161,054
Ziggo BV (Netherlands) 4.875% due 01/15/30 ~		200,000		170,706
				31,842,495
Consumer, Cyclical - 23.3%
99 Escrow Issuer, Inc. 7.500% due 01/15/26 ~		213,000		85,264
Adient Global Holdings Ltd.
7.000% due 04/15/28 ~		63,000		64,819
8.250% due 04/15/31 ~		63,000		64,927
Air Canada (Canada) 3.875% due 08/15/26 ~		605,000		549,982
AMC Entertainment Holdings, Inc. 7.500% due 02/15/29 ~		165,000		114,159
American Airlines Group, Inc. 3.750% due 03/01/25 ~		150,000		137,787
American Airlines, Inc.
7.250% due 02/15/28 ~		200,000		194,693
11.750% due 07/15/25 ~		700,000		766,535
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.500% due 04/20/26 ~		235,000		231,555
5.750% due 04/20/29 ~		45,000		43,214
American Axle & Manufacturing, Inc.
6.250% due 03/15/26		34,000		32,682

	Principal Amount		Value
6.875% due 07/01/28		$150,000		$135,761
American Builders & Contractors Supply Co., Inc. 4.000% due 01/15/28 ~		129,000		117,593
Aramark Services, Inc. 5.000% due 04/01/25 ~		100,000		98,509
Asbury Automotive Group, Inc.
4.500% due 03/01/28		150,000		136,706
4.750% due 03/01/30		218,000		195,368
Ashton Woods USA LLC/Ashton Woods Finance Co. 6.625% due 01/15/28 ~		250,000		226,984
At Home Group, Inc.
4.875% due 07/15/28 ~		90,000		61,087
7.125% due 07/15/29 ~		45,000		25,821
Bath & Body Works, Inc.
6.694% due 01/15/27		195,000		194,706
6.750% due 07/01/36		90,000		80,531
6.875% due 11/01/35		300,000		270,716
BCPE Empire Holdings, Inc. 7.625% due 05/01/27 ~		190,000		173,784
Beacon Roofing Supply, Inc. 4.500% due 11/15/26 ~		150,000		142,283
Beazer Homes USA, Inc. 6.750% due 03/15/25		250,000		246,916
Bloomin’ Brands, Inc./OSI Restaurant Partners LLC 5.125% due 04/15/29 ~		100,000		89,634
BlueLinx Holdings, Inc. 6.000% due 11/15/29 ~		100,000		82,685
Boyne USA, Inc. 4.750% due 05/15/29 ~		394,000		352,210
Brinker International, Inc. 5.000% due 10/01/24 ~		100,000		98,209
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada)
4.875% due 02/15/30 ~		65,000		49,110
5.000% due 06/15/29 ~		100,000		76,693
6.250% due 09/15/27 ~		263,000		231,526
Caesars Entertainment, Inc.
6.250% due 07/01/25 ~		900,000		900,884
7.000% due 02/15/30 ~		550,000		560,128
Carnival Corp.
4.000% due 08/01/28 ~		725,000		624,859
5.750% due 03/01/27 ~		387,000		317,888
6.650% due 01/15/28		200,000		152,247
7.625% due 03/01/26 ~		420,000		383,662
Carnival PLC 7.875% due 06/01/27		185,000		181,913
Carvana Co.
4.875% due 09/01/29 ~		200,000		81,923
5.500% due 04/15/27 ~		89,000		39,629
5.625% due 10/01/25 ~		165,000		114,309
5.875% due 10/01/28 ~		125,000		55,785
10.250% due 05/01/30 ~		215,000		122,598
CD&R Smokey Buyer, Inc. 6.750% due 07/15/25 ~		120,000		103,500
CDI Escrow Issuer, Inc. 5.750% due 04/01/30 ~		350,000		338,361
CEC Entertainment LLC 6.750% due 05/01/26 ~		88,000		83,679
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op
5.375% due 04/15/27		80,000		76,546
6.500% due 10/01/28		100,000		97,136
Churchill Downs, Inc.
4.750% due 01/15/28 ~		236,000		221,226
5.500% due 04/01/27 ~		230,000		225,400
Cinemark USA, Inc. 8.750% due 05/01/25 ~		120,000		122,618
Clarios Global LP/Clarios US Finance Co. 8.500% due 05/15/27 ~		657,000		660,696

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

224

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PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Constellation Merger Sub, Inc. 8.500% due 09/15/25 ~		$100,000		$85,212
Cooper-Standard Automotive, Inc.
5.625% due 05/15/27 ~		300,000		173,184
13.500% due 03/31/27 ~		435,000		455,201
Crocs, Inc. 4.125% due 08/15/31 ~		150,000		123,721
Dana, Inc.
4.250% due 09/01/30		100,000		80,268
4.500% due 02/15/32		300,000		237,123
Dave & Buster’s, Inc. 7.625% due 11/01/25 ~		140,000		142,800
Dealer Tire LLC/DT Issuer LLC 8.000% due 02/01/28 ~		250,000		224,683
Delta Air Lines, Inc.
2.900% due 10/28/24		225,000		215,496
7.375% due 01/15/26		90,000		93,739
eG Global Finance PLC (United Kingdom) 8.500% due 10/30/25 ~		200,000		187,477
Evergreen Acqco 1 LP/TVI, Inc. 9.750% due 04/26/28 ~		200,000		190,205
Everi Holdings, Inc. 5.000% due 07/15/29 ~		200,000		178,233
Ferrellgas LP/Ferrellgas Finance Corp.
5.375% due 04/01/26 ~		240,000		224,986
5.875% due 04/01/29 ~		240,000		205,445
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc. 6.750% due 01/15/30 ~		515,000		424,169
FirstCash, Inc.
4.625% due 09/01/28 ~		150,000		133,228
5.625% due 01/01/30 ~		175,000		161,677
Ford Motor Co. 3.250% due 02/12/32		565,000		444,862
Ford Motor Credit Co. LLC
2.300% due 02/10/25		220,000		204,208
2.700% due 08/10/26		380,000		338,675
3.375% due 11/13/25		700,000		657,030
3.625% due 06/17/31		240,000		198,080
3.664% due 09/08/24		225,000		216,214
3.815% due 11/02/27		400,000		359,056
4.000% due 11/13/30		200,000		170,221
4.063% due 11/01/24		200,000		193,338
4.271% due 01/09/27		200,000		186,500
4.389% due 01/08/26		250,000		237,555
4.687% due 06/09/25		350,000		336,852
4.950% due 05/28/27		200,000		191,060
7.350% due 11/04/27		250,000		258,127
7.350% due 03/06/30		245,000		251,983
Forestar Group, Inc. 5.000% due 03/01/28 ~		150,000		134,454
Gap, Inc.
3.625% due 10/01/29 ~		345,000		246,399
3.875% due 10/01/31 ~		145,000		100,742
Genting New York LLC/GENNY Capital, Inc. 3.300% due 02/15/26 ~		200,000		180,038
Goodyear Tire & Rubber Co.
5.000% due 05/31/26		480,000		464,645
5.250% due 07/15/31		85,000		73,513
5.625% due 04/30/33		282,000		244,297
9.500% due 05/31/25		145,000		149,162
Group 1 Automotive, Inc. 4.000% due 08/15/28 ~		500,000		440,850
Hanesbrands, Inc. 9.000% due 02/15/31 ~		195,000		199,817
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd. 5.750% due 01/20/26 ~		600,000		570,372
Hilton Domestic Operating Co., Inc.
3.625% due 02/15/32 ~		50,000		42,233
4.000% due 05/01/31 ~		190,000		166,554
5.375% due 05/01/25 ~		50,000		50,031

	Principal Amount		Value
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp. 4.875% due 04/01/27		$215,000		$212,289
International Game Technology PLC
4.125% due 04/15/26 ~		200,000		193,230
6.500% due 02/15/25 ~		200,000		202,298
IRB Holding Corp. 7.000% due 06/15/25 ~		250,000		251,005
Jacobs Entertainment, Inc. 6.750% due 02/15/29 ~		160,000		139,938
JB Poindexter & Co., Inc. 7.125% due 04/15/26 ~		119,000		111,696
KAR Auction Services, Inc. 5.125% due 06/01/25 ~		200,000		197,709
KB Home
6.875% due 06/15/27		75,000		76,278
7.250% due 07/15/30		185,000		187,865
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC 4.750% due 06/01/27 ~		200,000		194,463
Kohl’s Corp.
3.625% due 05/01/31		138,000		93,269
4.250% due 07/17/25		58,000		54,079
Las Vegas Sands Corp.
2.900% due 06/25/25		150,000		142,625
3.500% due 08/18/26		306,000		285,881
LCM Investments Holdings II LLC 4.875% due 05/01/29 ~		400,000		335,098
Levi Strauss & Co. 3.500% due 03/01/31 ~		105,000		89,627
LGI Homes, Inc. 4.000% due 07/15/29 ~		75,000		61,012
Lindblad Expeditions LLC 6.750% due 02/15/27 ~		270,000		261,716
Lithia Motors, Inc.
3.875% due 06/01/29 ~		90,000		77,963
4.375% due 01/15/31 ~		150,000		129,398
4.625% due 12/15/27 ~		150,000		139,687
Live Nation Entertainment, Inc.
3.750% due 01/15/28 ~		160,000		143,600
4.750% due 10/15/27 ~		110,000		101,875
5.625% due 03/15/26 ~		81,000		78,465
6.500% due 05/15/27 ~		225,000		227,646
LSF9 Atlantis Holdings LLC/Victra Finance Corp. 7.750% due 02/15/26 ~		348,000		316,463
Macy’s Retail Holdings LLC 4.300% due 02/15/43		300,000		185,254
MajorDrive Holdings IV LLC 6.375% due 06/01/29 ~		200,000		148,352
Marriott Ownership Resorts, Inc.
4.500% due 06/15/29 ~		135,000		115,065
4.750% due 01/15/28		150,000		134,234
Mattel, Inc.
3.750% due 04/01/29 ~		110,000		98,942
6.200% due 10/01/40		134,000		121,464
Melco Resorts Finance Ltd. (Hong Kong) 5.375% due 12/04/29 ~		200,000		163,900
Meritage Homes Corp. 5.125% due 06/06/27		200,000		194,791
MGM China Holdings Ltd. (Macau) 4.750% due 02/01/27 ~		200,000		179,377
MGM Resorts International 6.750% due 05/01/25		80,000		80,703
Michaels Cos., Inc. 7.875% due 05/01/29 ~		115,000		80,609
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp. 4.875% due 05/01/29 ~		259,000		225,454
Mohegan Tribal Gaming Authority
8.000% due 02/01/26 ~		260,000		238,154
13.250% due 12/15/27 ~		150,000		161,488

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

225

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PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Murphy Oil USA, Inc.
3.750% due 02/15/31 ~		$85,000		$71,700
4.750% due 09/15/29		99,000		90,308
5.625% due 05/01/27		100,000		96,910
NCL Corp. Ltd.
5.875% due 03/15/26 ~		260,000		221,559
5.875% due 02/15/27 ~		456,000		425,742
7.750% due 02/15/29 ~		100,000		85,844
8.375% due 02/01/28 ~		83,000		83,359
NCL Finance Ltd. 6.125% due 03/15/28 ~		125,000		101,421
New Red Finance, Inc. (Canada)
3.500% due 02/15/29 ~		125,000		112,036
4.000% due 10/15/30 ~		758,000		650,667
5.750% due 04/15/25 ~		50,000		50,230
Newell Brands, Inc.
4.700% due 04/01/26		535,000		515,507
4.875% due 06/01/25		165,000		161,013
5.875% due 04/01/36		130,000		115,306
6.375% due 09/15/27		168,000		169,730
6.625% due 09/15/29		90,000		90,873
Nissan Motor Acceptance Co. LLC
1.125% due 09/16/24 ~		100,000		93,529
1.850% due 09/16/26 ~		126,000		109,133
2.000% due 03/09/26 ~		115,000		101,983
2.750% due 03/09/28 ~		100,000		84,646
Nissan Motor Co. Ltd. (Japan)
4.345% due 09/17/27 ~		200,000		188,793
4.810% due 09/17/30 ~		200,000		181,235
NMG Holding Co., Inc./Neiman Marcus Group LLC 7.125% due 04/01/26 ~		125,000		117,471
Nordstrom, Inc.
4.375% due 04/01/30		410,000		317,914
6.950% due 03/15/28		172,000		161,510
Odeon Finco PLC (United Kingdom) 12.750% due 11/01/27 ~		100,000		92,091
Park River Holdings, Inc. 5.625% due 02/01/29 ~		100,000		68,295
Patrick Industries, Inc. 7.500% due 10/15/27 ~		100,000		98,406
Penn Entertainment, Inc.
4.125% due 07/01/29 ~		200,000		166,971
5.625% due 01/15/27 ~		100,000		94,014
Penske Automotive Group, Inc. 3.500% due 09/01/25		139,000		130,857
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. 5.625% due 09/01/29 ~		438,000		323,846
QVC, Inc.
4.450% due 02/15/25		335,000		198,340
4.750% due 02/15/27		175,000		73,732
4.850% due 04/01/24		100,000		80,127
Resideo Funding, Inc. 4.000% due 09/01/29 ~		100,000		83,241
Resorts World Las Vegas LLC/RWLV Capital, Inc. 4.625% due 04/16/29 ~		400,000		309,245
Ritchie Bros Holdings, Inc. (Canada)
6.750% due 03/15/28 ~		81,000		83,517
7.750% due 03/15/31 ~		87,000		91,286
Rite Aid Corp. 8.000% due 11/15/26 ~		248,000		118,714
Royal Caribbean Cruises Ltd.
5.500% due 04/01/28 ~		450,000		397,800
7.250% due 01/15/30 ~		230,000		231,645
11.500% due 06/01/25 ~		334,000		356,441
11.625% due 08/15/27 ~		167,000		179,525
Sands China Ltd. (Macau)
2.800% due 03/08/27		200,000		171,747
3.350% due 03/08/29		200,000		166,297
3.750% due 08/08/31		200,000		160,819

	Principal Amount		Value
4.875% due 06/18/30		$130,000		$115,294
5.625% due 08/08/25		655,000		638,979
5.900% due 08/08/28		200,000		190,024
Scientific Games International, Inc.
7.000% due 05/15/28 ~		224,000		221,978
7.250% due 11/15/29 ~		156,000		156,443
Scotts Miracle-Gro Co.
4.500% due 10/15/29		200,000		172,186
5.250% due 12/15/26		100,000		95,607
SeaWorld Parks & Entertainment, Inc. 5.250% due 08/15/29 ~		112,000		101,218
Sonic Automotive, Inc. 4.875% due 11/15/31 ~		390,000		314,870
Speedway Motorsports LLC/Speedway Funding II, Inc. 4.875% due 11/01/27 ~		250,000		229,736
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. 8.000% due 09/20/25 ~		410,000		412,082
SRS Distribution, Inc.
4.625% due 07/01/28 ~		81,000		72,047
6.000% due 12/01/29 ~		310,000		256,410
6.125% due 07/01/29 ~		133,000		112,385
Staples, Inc.
7.500% due 04/15/26 ~		750,000		657,825
10.750% due 04/15/27 ~		97,000		70,454
Station Casinos LLC
4.500% due 02/15/28 ~		190,000		171,698
4.625% due 12/01/31 ~		86,000		72,710
Suburban Propane Partners LP/Suburban Energy Finance Corp.
5.000% due 06/01/31 ~		283,000		247,618
5.875% due 03/01/27		300,000		291,408
Thor Industries, Inc. 4.000% due 10/15/29 ~		110,000		91,076
Titan International, Inc. 7.000% due 04/30/28		200,000		180,386
Travel & Leisure Co. 5.650% due 04/01/24		300,000		299,346
TRI Pointe Group, Inc./TRI Pointe Homes, Inc. 5.875% due 06/15/24		200,000		199,191
Tri Pointe Homes, Inc. 5.250% due 06/01/27		100,000		95,141
Under Armour, Inc. 3.250% due 06/15/26		300,000		277,476
United Airlines Holdings, Inc. 4.875% due 01/15/25		150,000		146,431
United Airlines, Inc. 4.375% due 04/15/26 ~		96,000		91,956
Universal Entertainment Corp. (Japan) 8.500% due 12/11/24 ~		250,000		235,551
US Airways Pass-Through Trust Class A 3.950% due 05/15/27		88,766		83,079
Vail Resorts, Inc. 6.250% due 05/15/25 ~		235,000		235,766
Victoria’s Secret & Co. 4.625% due 07/15/29 ~		188,000		152,538
Viking Cruises Ltd.
5.875% due 09/15/27 ~		27,000		23,277
7.000% due 02/15/29 ~		190,000		163,163
Viking Ocean Cruises Ship VII Ltd. 5.625% due 02/15/29 ~		300,000		257,813
Wesco Aircraft Holdings, Inc.
8.500% due 11/15/24 ~		222,000		16,650
13.125% due 11/15/27 ~		262,000		23,580
Wheel Pros, Inc. 6.500% due 05/15/29 ~		100,000		45,500
White Cap Buyer LLC 6.875% due 10/15/28 ~		170,000		147,621
William Carter Co. 5.625% due 03/15/27 ~		214,000		208,210

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

226

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PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Winnebago Industries, Inc. 6.250% due 07/15/28 ~		$200,000		$191,560
WMG Acquisition Corp.
3.000% due 02/15/31 ~		221,000		184,970
3.875% due 07/15/30 ~		200,000		175,803
Wyndham Hotels & Resorts, Inc. 4.375% due 08/15/28 ~		106,000		97,751
Wynn Macau Ltd. (Macau)
5.125% due 12/15/29 ~		390,000		319,880
5.625% due 08/26/28 ~		300,000		255,486
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. 7.125% due 02/15/31 ~		175,000		177,672
Yum! Brands, Inc.
5.350% due 11/01/43		100,000		85,067
6.875% due 11/15/37		100,000		106,191
				45,358,591
Consumer, Non-Cyclical - 14.7%
Acadia Healthcare Co., Inc. 5.000% due 04/15/29 ~		225,000		211,702
AdaptHealth LLC
4.625% due 08/01/29 ~		190,000		158,391
5.125% due 03/01/30 ~		177,000		150,330
ADT Security Corp.
4.125% due 08/01/29 ~		465,000		415,257
4.875% due 07/15/32 ~		200,000		176,669
Adtalem Global Education, Inc. 5.500% due 03/01/28 ~		250,000		237,472
AHP Health Partners, Inc. 5.750% due 07/15/29 ~		150,000		126,389
Air Methods Corp. 8.000% due 05/15/25 ~		330,000		21,531
Akumin Escrow, Inc. 7.500% due 08/01/28 ~		100,000		70,096
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC
3.250% due 03/15/26 ~		203,000		191,220
6.500% due 02/15/28 ~		225,000		225,800
7.500% due 03/15/26 ~		125,000		128,370
Allied Universal Holdco LLC/Allied Universal Finance Corp. 9.750% due 07/15/27 ~		297,000		264,998
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL 4.625% due 06/01/28 ~		266,000		225,354
AMN Healthcare, Inc.
4.000% due 04/15/29 ~		150,000		132,916
4.625% due 10/01/27 ~		217,000		201,412
APi Group DE, Inc. 4.125% due 07/15/29 ~		150,000		128,976
Aptim Corp. 7.750% due 06/15/25 ~		150,000		105,750
APX Group, Inc. 6.750% due 02/15/27 ~		200,000		199,221
Arrow Bidco LLC 9.500% due 03/15/24 ~		78,000		78,090
ASGN, Inc. 4.625% due 05/15/28 ~		79,000		73,804
B&G Foods, Inc. 5.250% due 04/01/25		399,000		371,996
Bausch Health Cos., Inc.
4.875% due 06/01/28 ~		410,000		242,269
5.500% due 11/01/25 ~		346,000		284,865
5.750% due 08/15/27 ~		140,000		87,338
6.125% due 02/01/27 ~		185,000		119,921
7.000% due 01/15/28 ~		388,000		156,636
7.250% due 05/30/29 ~		98,000		37,621
9.000% due 12/15/25 ~		50,000		39,861
11.000% due 09/30/28 ~		539,000		399,313

	Principal Amount		Value
BC Ltd. (Canada) 9.000% due 01/30/28 ~		$106,000		$105,205
Block, Inc. 3.500% due 06/01/31		483,000		397,130
Brink’s Co.
4.625% due 10/15/27 ~		197,000		185,869
5.500% due 07/15/25 ~		150,000		148,754
C&S Group Enterprises LLC 5.000% due 12/15/28 ~		300,000		231,576
Cano Health LLC 6.250% due 10/01/28 ~		125,000		69,063
Central Garden & Pet Co. 4.125% due 10/15/30		335,000		296,307
Charles River Laboratories International, Inc.
3.750% due 03/15/29 ~		133,000		118,191
4.000% due 03/15/31 ~		200,000		175,179
4.250% due 05/01/28 ~		192,000		179,923
Chobani LLC/Chobani Finance Corp., Inc. 4.625% due 11/15/28 ~		350,000		319,335
CHS/Community Health Systems, Inc.
4.750% due 02/15/31 ~		115,000		85,020
5.250% due 05/15/30 ~		695,000		545,818
5.625% due 03/15/27 ~		105,000		92,289
6.000% due 01/15/29 ~		300,000		254,067
6.125% due 04/01/30 ~		194,000		117,085
CoreCivic, Inc.
4.750% due 10/15/27		60,000		52,973
8.250% due 04/15/26		135,000		136,203
Darling Ingredients, Inc.
5.250% due 04/15/27 ~		99,000		96,616
6.000% due 06/15/30 ~		145,000		144,637
DaVita, Inc. 3.750% due 02/15/31 ~		454,000		358,533
Deluxe Corp. 8.000% due 06/01/29 ~		70,000		51,255
Edgewell Personal Care Co.
4.125% due 04/01/29 ~		125,000		109,655
5.500% due 06/01/28 ~		100,000		95,941
Elanco Animal Health, Inc. 6.650% due 08/28/28		130,000		123,106
Embecta Corp.
5.000% due 02/15/30 ~		80,000		68,903
6.750% due 02/15/30 ~		100,000		91,122
Encompass Health Corp. 5.750% due 09/15/25		100,000		99,331
Envision Healthcare Corp. 8.750% due 10/15/26 ~		150,000		28,896
FAGE International SA/FAGE USA Dairy Industry, Inc. (Luxembourg) 5.625% due 08/15/26 ~		100,000		93,482
Garda World Security Corp. (Canada)
4.625% due 02/15/27 ~		400,000		359,547
6.000% due 06/01/29 ~		150,000		119,443
7.750% due 02/15/28 ~		80,000		78,920
9.500% due 11/01/27 ~		78,000		74,082
Gartner, Inc.
3.750% due 10/01/30 ~		397,000		356,712
4.500% due 07/01/28 ~		169,000		160,578
GEO Group, Inc. 10.500% due 06/30/28		163,000		164,889
Graham Holdings Co. 5.750% due 06/01/26 ~		100,000		98,105
Grifols Escrow Issuer SA (Spain) 4.750% due 10/15/28 ~		200,000		164,202
H-Food Holdings LLC/Hearthside Finance Co., Inc. 8.500% due 06/01/26 ~		400,000		247,940
HealthEquity, Inc. 4.500% due 10/01/29 ~		395,000		351,439
Hologic, Inc. 4.625% due 02/01/28 ~		191,000		185,681

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

227

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PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Ingles Markets, Inc. 4.000% due 06/15/31 ~		$225,000		$195,750
Korn Ferry 4.625% due 12/15/27 ~		150,000		141,887
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. (Canada) 5.000% due 12/31/26 ~		255,000		233,487
Land O’Lakes Capital Trust I 7.450% due 03/15/28 ~		43,000		41,065
Lannett Co., Inc. 7.750% due 04/15/26 ~		50,000		8,313
Legacy LifePoint Health LLC
4.375% due 02/15/27 ~		230,000		188,332
6.750% due 04/15/25 ~		180,000		171,000
Mallinckrodt International Finance SA/Mallinckrodt CB LLC 11.500% due 12/15/28 ~		250,000		204,875
Medline Borrower LP
3.875% due 04/01/29 ~		255,000		221,508
5.250% due 10/01/29 ~		388,000		337,004
Metis Merger Sub LLC 6.500% due 05/15/29 ~		100,000		83,382
ModivCare Escrow Issuer, Inc. 5.000% due 10/01/29 ~		405,000		344,293
ModivCare, Inc. 5.875% due 11/15/25 ~		72,000		69,123
Molina Healthcare, Inc.
3.875% due 05/15/32 ~		345,000		290,249
4.375% due 06/15/28 ~		150,000		139,680
MPH Acquisition Holdings LLC 5.500% due 09/01/28 ~		290,000		230,826
Nathan’s Famous, Inc. 6.625% due 11/01/25 ~		13,000		12,966
Neptune Bidco US, Inc. 9.290% due 04/15/29 ~		625,000		580,062
NESCO Holdings II, Inc. 5.500% due 04/15/29 ~		300,000		271,708
Option Care Health, Inc. 4.375% due 10/31/29 ~		63,000		55,706
Organon & Co./Organon Foreign Debt Co.-Issuer BV
4.125% due 04/30/28 ~		504,000		461,165
5.125% due 04/30/31 ~		500,000		444,289
Oriflame Investment Holding PLC (Switzerland) 5.125% due 05/04/26 ~		200,000		122,000
Owens & Minor, Inc.
4.500% due 03/31/29 ~		80,000		62,508
6.625% due 04/01/30 ~		139,000		119,491
PECF USS Intermediate Holding III Corp. 8.000% due 11/15/29 ~		206,000		137,051
Performance Food Group, Inc. 4.250% due 08/01/29 ~		158,000		142,051
Perrigo Finance Unlimited Co.
3.900% due 12/15/24		200,000		196,087
4.900% due 12/15/44		200,000		141,516
Post Holdings, Inc.
4.500% due 09/15/31 ~		500,000		440,500
5.750% due 03/01/27 ~		322,000		314,613
Prime Security Services Borrower LLC/Prime Finance, Inc.
3.375% due 08/31/27 ~		410,000		367,959
5.250% due 04/15/24 ~		197,000		195,050
5.750% due 04/15/26 ~		246,000		244,395
6.250% due 01/15/28 ~		50,000		46,797
Primo Water Holdings, Inc. (Canada) 4.375% due 04/30/29 ~		188,000		164,272
Radiology Partners, Inc. 9.250% due 02/01/28 ~		155,000		85,854
RCN Corp. 11.625% due 04/15/23 * Y W		9,000		830
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc. 9.750% due 12/01/26 ~		50,000		40,489

	Principal Amount		Value
RP Escrow Issuer LLC 5.250% due 12/15/25 ~		$300,000		$227,604
Sabre GLBL, Inc.
7.375% due 09/01/25 ~		518,000		463,351
9.250% due 04/15/25 ~		50,000		47,148
11.250% due 12/15/27 ~		105,000		97,909
Safeway, Inc. 7.250% due 02/01/31		150,000		150,566
SEG Holding LLC/SEG Finance Corp. 5.625% due 10/15/28 ~		200,000		190,098
Select Medical Corp. 6.250% due 08/15/26 ~		424,000		411,706
Service Corp. International
3.375% due 08/15/30		426,000		363,548
5.125% due 06/01/29		206,000		199,241
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc. 4.625% due 11/01/26 ~		300,000		282,358
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed 4.625% due 03/01/29 ~		245,000		199,408
Sotheby’s 7.375% due 10/15/27 ~		200,000		189,400
Sotheby’s/Bidfair Holdings, Inc. 5.875% due 06/01/29 ~		150,000		124,581
Spectrum Brands, Inc.
5.000% due 10/01/29 ~		86,000		74,746
5.750% due 07/15/25		200,000		197,696
Surgery Center Holdings, Inc. 10.000% due 04/15/27 ~		100,000		102,059
Team Health Holdings, Inc. 6.375% due 02/01/25 ~		200,000		120,610
Teleflex, Inc. 4.250% due 06/01/28 ~		95,000		90,454
Tenet Healthcare Corp.
4.375% due 01/15/30		536,000		481,542
4.625% due 09/01/24		87,000		85,555
4.875% due 01/01/26		545,000		534,893
5.125% due 11/01/27		276,000		265,236
6.125% due 10/01/28		655,000		628,371
6.250% due 02/01/27		530,000		521,785
Toledo Hospital 5.325% due 11/15/28		164,000		136,828
TriNet Group, Inc. 3.500% due 03/01/29 ~		115,000		98,474
Turning Point Brands, Inc. 5.625% due 02/15/26 ~		100,000		90,668
United Natural Foods, Inc. 6.750% due 10/15/28 ~		315,000		293,048
United Rentals North America, Inc.
3.875% due 11/15/27		175,000		164,281
4.875% due 01/15/28		115,000		110,089
5.250% due 01/15/30		142,000		136,813
5.500% due 05/15/27		130,000		128,896
US Acute Care Solutions LLC 6.375% due 03/01/26 ~		294,000		262,091
US Foods, Inc. 6.250% due 04/15/25 ~		169,000		170,697
Verscend Escrow Corp. 9.750% due 08/15/26 ~		325,000		325,310
WASH Multifamily Acquisition, Inc. 5.750% due 04/15/26 ~		255,000		241,577
Williams Scotsman International, Inc.
4.625% due 08/15/28 ~		100,000		91,089
6.125% due 06/15/25 ~		105,000		104,450
ZipRecruiter, Inc. 5.000% due 01/15/30 ~		100,000		85,625
				28,534,504

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

228

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PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Diversified - 0.1%
Stena AB (Sweden) 7.000% due 02/01/24 ~		$100,000		$99,618
Energy - 11.1%
Aethon United BR LP/Aethon United Finance Corp. 8.250% due 02/15/26 ~		340,000		333,953
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.375% due 06/15/29 ~		135,000		127,212
5.750% due 03/01/27 ~		200,000		195,660
5.750% due 01/15/28 ~		197,000		189,373
Antero Resources Corp. 7.625% due 02/01/29 ~		74,000		75,738
Apache Corp.
4.250% due 01/15/30		102,000		93,173
5.100% due 09/01/40		362,000		307,347
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
7.000% due 11/01/26 ~		80,000		77,406
8.250% due 12/31/28 ~		165,000		159,793
Athabasca Oil Corp. (Canada) 9.750% due 11/01/26 ~		211,000		220,748
Baytex Energy Corp. (Canada) 8.750% due 04/01/27 ~		185,000		189,613
Blue Racer Midstream LLC/Blue Racer Finance Corp.
6.625% due 07/15/26 ~		50,000		48,564
7.625% due 12/15/25 ~		245,000		242,770
Buckeye Partners LP
3.950% due 12/01/26		175,000		158,559
4.125% due 03/01/25 ~		127,000		120,293
4.500% due 03/01/28 ~		105,000		94,903
5.850% due 11/15/43		250,000		189,129
Calumet Specialty Products Partners LP/Calumet Finance Corp. 9.250% due 07/15/24 ~		162,000		162,960
CGG SA (France) 8.750% due 04/01/27 ~		300,000		250,482
Chesapeake Energy Corp.
5.875% due 02/01/29 ~		185,000		176,319
6.750% due 04/15/29 ~		300,000		298,117
Chord Energy Corp. 6.375% due 06/01/26 ~		150,000		148,753
Civitas Resources, Inc. 5.000% due 10/15/26 ~		60,000		56,475
CNX Midstream Partners LP 4.750% due 04/15/30 ~		40,000		34,452
CNX Resources Corp.
6.000% due 01/15/29 ~		250,000		234,050
7.250% due 03/14/27 ~		23,000		22,910
Comstock Resources, Inc. 6.750% due 03/01/29 ~		85,000		77,855
Crescent Energy Finance LLC
7.250% due 05/01/26 ~		235,000		221,116
9.250% due 02/15/28 ~		115,000		110,372
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
5.625% due 05/01/27 ~		140,000		135,047
5.750% due 04/01/25		85,000		83,113
6.000% due 02/01/29 ~		105,000		100,091
7.375% due 02/01/31 ~		115,000		115,111
8.000% due 04/01/29 ~		150,000		153,135
CrownRock LP/CrownRock Finance, Inc. 5.625% due 10/15/25 ~		94,000		92,242
CSI Compressco LP/CSI Compressco Finance, Inc. 7.500% due 04/01/25 ~		200,000		190,752
CVR Energy, Inc. 5.750% due 02/15/28 ~		125,000		114,846
DCP Midstream Operating LP 5.850% due 05/21/43 ~		100,000		97,830

	Principal Amount		Value
DT Midstream, Inc.
4.125% due 06/15/29 ~		$95,000		$83,396
4.375% due 06/15/31 ~		200,000		174,516
Earthstone Energy Holdings LLC 8.000% due 04/15/27 ~		190,000		184,549
Encino Acquisition Partners Holdings LLC 8.500% due 05/01/28 ~		325,000		284,682
Energy Ventures Gom LLC/EnVen Finance Corp. 11.750% due 04/15/26 ~		85,000		88,684
EnLink Midstream LLC
5.625% due 01/15/28 ~		75,000		73,571
6.500% due 09/01/30 ~		245,000		248,013
EnLink Midstream Partners LP
4.150% due 06/01/25		120,000		116,510
5.450% due 06/01/47		50,000		39,925
EnQuest PLC (United Kingdom) 11.625% due 11/01/27 ~		200,000		185,433
Enviva Partners LP/Enviva Partners Finance Corp. 6.500% due 01/15/26 ~		260,000		236,869
EQM Midstream Partners LP
4.000% due 08/01/24		43,000		41,402
4.750% due 01/15/31 ~		108,000		89,790
6.000% due 07/01/25 ~		221,000		218,750
7.500% due 06/01/27 ~		400,000		401,988
7.500% due 06/01/30 ~		457,000		443,260
FTAI Infra Escrow Holdings LLC 10.500% due 06/01/27 ~		200,000		197,881
Genesis Energy LP/Genesis Energy Finance Corp. 8.875% due 04/15/30		150,000		152,010
Global Partners LP/GLP Finance Corp.
6.875% due 01/15/29		100,000		93,065
7.000% due 08/01/27		150,000		144,118
Gulfport Energy Corp. 8.000% due 05/17/26 ~		200,000		198,240
Harbour Energy PLC (United Kingdom) 5.500% due 10/15/26 ~		200,000		175,262
Hess Midstream Operations LP
4.250% due 02/15/30 ~		230,000		205,688
5.625% due 02/15/26 ~		200,000		198,177
Hilcorp Energy I LP/Hilcorp Finance Co. 6.000% due 04/15/30 ~		50,000		46,170
Holly Energy Partners LP/Holly Energy Finance Corp.
5.000% due 02/01/28 ~		59,000		55,157
6.375% due 04/15/27 ~		35,000		34,649
Howard Midstream Energy Partners LLC 6.750% due 01/15/27 ~		100,000		94,398
Ithaca Energy North Sea PLC (United Kingdom) 9.000% due 07/15/26 ~		200,000		190,896
Kinetik Holdings LP 5.875% due 06/15/30 ~		290,000		279,560
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp. 6.000% due 08/01/26 ~		330,000		321,275
Martin Midstream Partners LP/Martin Midstream Finance Corp. 11.500% due 02/15/28 ~		275,000		263,596
Matador Resources Co. 5.875% due 09/15/26		330,000		326,000
Moss Creek Resources Holdings, Inc.
7.500% due 01/15/26 ~		50,000		46,423
10.500% due 05/15/27 ~		100,000		95,208
Murphy Oil Corp.
5.750% due 08/15/25		43,000		42,622
5.875% due 12/01/27		117,000		114,099
6.375% due 07/15/28		323,000		318,565
Nabors Industries Ltd. 7.250% due 01/15/26 ~		363,000		346,569

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

229

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Nabors Industries, Inc.
5.750% due 02/01/25		$85,000		$82,444
7.375% due 05/15/27 ~		271,000		265,661
Neptune Energy Bondco PLC (United Kingdom) 6.625% due 05/15/25 ~		250,000		242,591
New Fortress Energy, Inc.
6.500% due 09/30/26 ~		300,000		276,274
6.750% due 09/15/25 ~		338,000		325,683
Northriver Midstream Finance LP (Canada) 5.625% due 02/15/26 ~		250,000		234,899
NuStar Logistics LP 6.000% due 06/01/26		171,000		167,832
Occidental Petroleum Corp.
3.500% due 08/15/29		386,000		350,310
4.400% due 04/15/46		2,175,000		1,727,026
6.950% due 07/01/24		71,000		71,958
Oceaneering International, Inc.
4.650% due 11/15/24		200,000		196,000
6.000% due 02/01/28		100,000		94,081
Parkland Corp. (Canada)
4.500% due 10/01/29 ~		140,000		124,568
5.875% due 07/15/27 ~		132,000		128,220
Patterson-UTI Energy, Inc. 3.950% due 02/01/28		250,000		222,246
PDC Energy, Inc. 6.125% due 09/15/24		100,000		99,700
Precision Drilling Corp. (Canada)
6.875% due 01/15/29 ~		125,000		113,550
7.125% due 01/15/26 ~		200,000		195,512
Puma International Financing SA (Singapore) 5.000% due 01/24/26 ~		200,000		178,343
Range Resources Corp. 4.750% due 02/15/30 ~		29,000		26,472
Rockies Express Pipeline LLC 3.600% due 05/15/25 ~		250,000		234,053
SM Energy Co.
5.625% due 06/01/25		113,000		109,689
6.625% due 01/15/27		100,000		96,163
6.750% due 09/15/26		60,000		58,895
Southwestern Energy Co.
5.375% due 03/15/30		50,000		47,066
5.700% due 01/23/25		14,000		14,021
8.375% due 09/15/28		150,000		157,840
Summit Midstream Holdings LLC/Summit Midstream Finance Corp. 5.750% due 04/15/25		140,000		116,737
Sunnova Energy Corp. 5.875% due 09/01/26 ~		110,000		93,361
Sunoco LP/Sunoco Finance Corp. 6.000% due 04/15/27		359,000		354,870
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
6.000% due 12/31/30 ~		215,000		192,426
6.000% due 09/01/31 ~		200,000		177,111
7.500% due 10/01/25 ~		300,000		300,165
Tap Rock Resources LLC 7.000% due 10/01/26 ~		260,000		228,012
TerraForm Power Operating LLC 4.750% due 01/15/30 ~		177,000		158,993
TransMontaigne Partners LP/TLP Finance Corp. 6.125% due 02/15/26		50,000		43,093
Transocean, Inc. 9.350% due 12/15/41		490,000		381,941
Venture Global Calcasieu Pass LLC
4.125% due 08/15/31 ~		44,000		38,702
6.250% due 01/15/30 ~		243,000		245,061
Vital Energy, Inc.
9.500% due 01/15/25		180,000		181,433
10.125% due 01/15/28		125,000		120,149
W&T Offshore, Inc. 11.750% due 02/01/26 ~		150,000		147,116

	Principal Amount		Value
Weatherford International Ltd. 11.000% due 12/01/24 ~		$43,000		$44,164
Western Midstream Operating LP
4.300% due 02/01/30		50,000		45,563
4.650% due 07/01/26		75,000		72,563
5.500% due 08/15/48		354,000		305,366
5.500% due 02/01/50		50,000		42,500
				21,681,651
Financial - 10.0%
Acrisure LLC/Acrisure Finance, Inc.
4.250% due 02/15/29 ~		340,000		290,314
7.000% due 11/15/25 ~		275,000		258,004
Advisor Group Holdings, Inc. 10.750% due 08/01/27 ~		100,000		101,590
AG Issuer LLC 6.250% due 03/01/28 ~		70,000		63,127
AG TTMT Escrow Issuer LLC 8.625% due 09/30/27 ~		120,000		120,900
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
4.250% due 10/15/27 ~		220,000		197,310
5.875% due 11/01/29 ~		200,000		169,015
6.750% due 10/15/27 ~		350,000		324,957
6.750% due 04/15/28 ~		80,000		79,182
Ally Financial, Inc.
5.750% due 11/20/25		300,000		282,470
6.700% due 02/14/33		150,000		133,450
AmWINS Group, Inc. 4.875% due 06/30/29 ~		85,000		75,337
Apollo Commercial Real Estate Finance, Inc. 4.625% due 06/15/29 ~		150,000		105,671
Aretec Escrow Issuer, Inc. 7.500% due 04/01/29 ~		300,000		245,646
Assurant, Inc. 7.000% due 03/27/48		200,000		187,786
AssuredPartners, Inc. 7.000% due 08/15/25 ~		64,000		62,333
Blackstone Mortgage Trust, Inc. 3.750% due 01/15/27 ~		250,000		196,514
Brightsphere Investment Group, Inc. 4.800% due 07/27/26		100,000		93,500
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC
4.500% due 04/01/27 ~		150,000		120,585
5.750% due 05/15/26 ~		300,000		268,665
Burford Capital Global Finance LLC
6.250% due 04/15/28 ~		250,000		215,763
6.875% due 04/15/30 ~		200,000		172,358
Coinbase Global, Inc. 3.625% due 10/01/31 ~		85,000		47,692
Credit Acceptance Corp. 6.625% due 03/15/26		200,000		186,762
CTR Partnership LP/CareTrust Capital Corp. 3.875% due 06/30/28 ~		100,000		85,610
Cushman & Wakefield US Borrower LLC 6.750% due 05/15/28 ~		200,000		179,235
Enstar Finance LLC 5.500% due 01/15/42		250,000		180,776
First Republic Bank 4.625% due 02/13/47		210,000		115,762
Freedom Mortgage Corp.
6.625% due 01/15/27 ~		200,000		154,095
7.625% due 05/01/26 ~		190,000		152,880
Genworth Holdings, Inc. 6.500% due 06/15/34		100,000		86,972
Global Net Lease, Inc./Global Net Lease Operating Partnership LP 3.750% due 12/15/27 ~		250,000		198,066

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

230

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
goeasy Ltd. (Canada)
4.375% due 05/01/26 ~		$75,000		$65,699
5.375% due 12/01/24 ~		82,000		77,433
GTCR AP Finance, Inc. 8.000% due 05/15/27 ~		50,000		47,776
Hightower Holding LLC 6.750% due 04/15/29 ~		83,000		70,721
HUB International Ltd. 7.000% due 05/01/26 ~		645,000		634,537
Hunt Cos., Inc. 5.250% due 04/15/29 ~		200,000		156,561
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.375% due 02/01/29		145,000		124,899
5.250% due 05/15/27		600,000		563,712
6.250% due 05/15/26		405,000		398,925
6.375% due 12/15/25		50,000		49,163
Intesa Sanpaolo SpA (Italy) 5.017% due 06/26/24 ~		700,000		672,778
Iron Mountain Information Management Services, Inc. 5.000% due 07/15/32 ~		150,000		128,952
Iron Mountain, Inc.
4.875% due 09/15/27 ~		425,000		402,265
5.000% due 07/15/28 ~		65,000		60,555
5.250% due 07/15/30 ~		125,000		112,828
Jane Street Group/JSG Finance, Inc. 4.500% due 11/15/29 ~		350,000		313,761
Jefferson Capital Holdings LLC 6.000% due 08/15/26 ~		75,000		63,724
Jones Deslauriers Insurance Management, Inc. (Canada) 8.500% due 03/15/30 ~		83,000		86,112
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.750% due 06/15/29 ~		225,000		162,881
5.250% due 10/01/25 ~		250,000		220,212
LD Holdings Group LLC 6.500% due 11/01/25 ~		96,000		60,601
Liberty Mutual Group, Inc. 4.300% due 02/01/61 ~		100,000		59,569
LPL Holdings, Inc.
4.375% due 05/15/31 ~		250,000		221,300
4.625% due 11/15/27 ~		150,000		141,885
Midcap Financial Issuer Trust 5.625% due 01/15/30 ~		250,000		197,814
MPT Operating Partnership LP/MPT Finance Corp.
3.500% due 03/15/31		190,000		128,079
5.000% due 10/15/27		320,000		263,554
5.250% due 08/01/26		500,000		450,000
Nationstar Mortgage Holdings, Inc. 5.125% due 12/15/30 ~		105,000		80,794
Navient Corp.
4.875% due 03/15/28		100,000		84,225
5.000% due 03/15/27		390,000		344,015
5.625% due 08/01/33		150,000		111,469
6.125% due 03/25/24		100,000		98,759
6.750% due 06/25/25		335,000		325,914
6.750% due 06/15/26		100,000		97,623
NFP Corp.
6.875% due 08/15/28 ~		70,000		60,135
7.500% due 10/01/30 ~		133,000		128,649
Office Properties Income Trust REIT 4.250% due 05/15/24		100,000		93,279
Ohio National Financial Services, Inc. 6.800% due 01/24/30 ~		400,000		380,976
OneMain Finance Corp.
3.500% due 01/15/27		355,000		298,343
4.000% due 09/15/30		160,000		120,144
6.625% due 01/15/28		216,000		198,245
6.875% due 03/15/25		238,000		230,860
7.125% due 03/15/26		210,000		202,083
Oxford Finance LLC/Oxford Finance Co.-Issuer II, Inc. 6.375% due 02/01/27 ~		75,000		70,218

	Principal Amount		Value
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer 4.875% due 05/15/29 ~		$388,000		$334,248
PennyMac Financial Services, Inc.
4.250% due 02/15/29 ~		210,000		167,427
5.375% due 10/15/25 ~		225,000		210,386
5.750% due 09/15/31 ~		100,000		79,299
Popular, Inc. 7.250% due 03/13/28		125,000		123,780
PRA Group, Inc. 8.375% due 02/01/28 ~		75,000		75,054
Provident Funding Associates LP/PFG Finance Corp. 6.375% due 06/15/25 ~		50,000		44,393
Radian Group, Inc. 4.875% due 03/15/27		150,000		141,211
Realogy Group LLC/Realogy Co-Issuer Corp. 5.250% due 04/15/30 ~		273,000		199,230
RHP Hotel Properties LP/RHP Finance Corp. 4.500% due 02/15/29 ~		110,000		99,492
Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc.
2.875% due 10/15/26 ~		242,000		216,848
4.000% due 10/15/33 ~		50,000		39,749
Ryan Specialty Group LLC 4.375% due 02/01/30 ~		120,000		105,075
SBA Communications Corp. 3.125% due 02/01/29		715,000		622,661
Service Properties Trust
4.650% due 03/15/24		100,000		97,635
4.750% due 10/01/26		150,000		125,397
5.500% due 12/15/27		100,000		89,604
SLM Corp.
3.125% due 11/02/26		175,000		148,959
4.200% due 10/29/25		110,000		99,105
Starwood Property Trust, Inc.
3.625% due 07/15/26 ~		110,000		91,508
3.750% due 12/31/24 ~		63,000		58,120
4.375% due 01/15/27 ~		125,000		103,451
4.750% due 03/15/25		138,000		129,956
StoneX Group, Inc. 8.625% due 06/15/25 ~		75,000		75,450
Synchrony Financial 7.250% due 02/02/33		188,000		166,088
Synovus Financial Corp. 5.900% due 02/07/29		100,000		81,498
UniCredit SpA (Italy) 5.459% due 06/30/35 ~		450,000		371,209
United Wholesale Mortgage LLC 5.500% due 11/15/25 ~		95,000		90,020
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC 6.000% due 01/15/30 ~		150,000		87,938
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC
4.750% due 04/15/28 ~		250,000		193,467
6.500% due 02/15/29 ~		275,000		168,095
10.500% due 02/15/28 ~		186,000		180,587
USI, Inc. 6.875% due 05/01/25 ~		105,000		103,534
VistaJet Malta Finance PLC/XO Management Holding, Inc. (Switzerland) 7.875% due 05/01/27 ~		455,000		440,424
				19,375,252
Industrial - 10.9%
Advanced Drainage Systems, Inc. 6.375% due 06/15/30 ~		82,000		80,443
AECOM 5.125% due 03/15/27		165,000		163,605

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

231

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PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC
3.250% due 09/01/28 ~		$100,000		$86,175
4.000% due 09/01/29 ~		350,000		274,209
6.000% due 06/15/27 ~		200,000		198,480
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. 5.250% due 04/30/25 ~		200,000		197,189
Artera Services LLC 9.033% due 12/04/25 ~		90,000		77,522
ATS Corp. (Canada) 4.125% due 12/15/28 ~		200,000		177,611
Ball Corp.
4.000% due 11/15/23		71,000		70,235
4.875% due 03/15/26		265,000		263,304
5.250% due 07/01/25		190,000		188,931
6.875% due 03/15/28		155,000		160,583
Berry Global, Inc. 4.500% due 02/15/26 ~		89,000		85,763
Bombardier, Inc. (Canada)
6.000% due 02/15/28 ~		67,000		65,325
7.125% due 06/15/26 ~		366,000		367,647
7.500% due 02/01/29 ~		115,000		117,587
BWX Technologies, Inc. 4.125% due 04/15/29 ~		200,000		177,594
Cargo Aircraft Management, Inc. 4.750% due 02/01/28 ~		390,000		349,155
Cascades, Inc./Cascades USA, Inc. (Canada) 5.125% due 01/15/26 ~		250,000		236,059
Chart Industries, Inc.
7.500% due 01/01/30 ~		402,000		415,857
9.500% due 01/01/31 ~		100,000		105,596
Clean Harbors, Inc. 5.125% due 07/15/29 ~		100,000		95,456
Clearwater Paper Corp.
4.750% due 08/15/28 ~		250,000		224,912
5.375% due 02/01/25 ~		50,000		48,706
Clydesdale Acquisition Holdings, Inc. 8.750% due 04/15/30 ~		327,000		297,547
Covanta Holding Corp. 5.000% due 09/01/30		200,000		172,475
CP Atlas Buyer, Inc. 7.000% due 12/01/28 ~		200,000		148,761
Crown Americas LLC/Crown Americas Capital Corp. V 4.250% due 09/30/26		190,000		182,341
Crown Americas LLC/Crown Americas Capital Corp. VI 4.750% due 02/01/26		250,000		243,716
EnerSys 4.375% due 12/15/27 ~		150,000		139,810
EnPro Industries, Inc. 5.750% due 10/15/26		100,000		97,370
F-Brasile SpA/F-Brasile US LLC (Italy) 7.375% due 08/15/26 ~		200,000		167,210
Fluor Corp. 3.500% due 12/15/24		155,000		151,371
FXI Holdings, Inc. 7.875% due 11/01/24 ~		121,000		113,005
GFL Environmental, Inc. (Canada)
3.750% due 08/01/25 ~		506,000		486,785
4.250% due 06/01/25 ~		65,000		63,487
Graphic Packaging International LLC
3.750% due 02/01/30 ~		125,000		108,606
4.125% due 08/15/24		100,000		97,768
4.750% due 07/15/27 ~		200,000		190,876
Great Lakes Dredge & Dock Corp. 5.250% due 06/01/29 ~		250,000		189,275
Griffon Corp. 5.750% due 03/01/28		125,000		116,066
Hillenbrand, Inc.

	Principal Amount		Value
3.750% due 03/01/31		$125,000		$104,564
5.750% due 06/15/25		165,000		164,748
Howmet Aerospace, Inc.
5.950% due 02/01/37		147,000		148,279
6.750% due 01/15/28		257,000		270,194
6.875% due 05/01/25		12,000		12,469
Husky III Holding Ltd. (Canada) 13.000% Cash or 13.750% PIK due 02/15/25 ~		200,000		169,500
Imola Merger Corp. 4.750% due 05/15/29 ~		530,000		474,732
James Hardie International Finance DAC 5.000% due 01/15/28 ~		200,000		187,761
LABL, Inc.
5.875% due 11/01/28 ~		40,000		35,618
9.500% due 11/01/28 ~		43,000		43,430
Likewize Corp. 9.750% due 10/15/25 ~		120,000		109,170
LSB Industries, Inc. 6.250% due 10/15/28 ~		283,000		252,142
Madison IAQ LLC 4.125% due 06/30/28 ~		210,000		181,884
MasTec, Inc. 6.625% due 08/15/29 ~		100,000		89,654
Mauser Packaging Solutions Holding Co.
7.875% due 08/15/26 ~		350,000		350,317
9.250% due 04/15/27 ~		505,000		467,125
Mueller Water Products, Inc. 4.000% due 06/15/29 ~		50,000		44,709
NAC Aviation 29 DAC (Ireland) 4.750% due 06/30/26		223,269		190,895
New Enterprise Stone & Lime Co., Inc.
5.250% due 07/15/28 ~		120,000		106,226
9.750% due 07/15/28 ~		250,000		238,975
Oscar AcquisitionCo LLC/Oscar Finance, Inc. 9.500% due 04/15/30 ~		100,000		86,138
Owens-Brockway Glass Container, Inc.
5.375% due 01/15/25 ~		48,000		47,292
5.875% due 08/15/23 ~		73,000		72,958
6.375% due 08/15/25 ~		300,000		300,428
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc. 4.375% due 10/15/28 ~		100,000		87,524
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC 4.000% due 10/15/27 ~		600,000		539,529
Pactiv LLC
7.950% due 12/15/25		100,000		101,522
8.375% due 04/15/27		100,000		98,866
Railworks Holdings LP/Railworks Rally, Inc. 8.250% due 11/15/28 ~		150,000		139,702
Rand Parent LLC 8.500% due 02/15/30 ~		230,000		216,447
Roller Bearing Co. of America, Inc. 4.375% due 10/15/29 ~		50,000		44,708
Sealed Air Corp.
5.000% due 04/15/29 ~		100,000		94,094
5.125% due 12/01/24 ~		50,000		49,706
5.500% due 09/15/25 ~		290,000		286,827
6.875% due 07/15/33 ~		54,000		54,240
Sealed Air Corp./Sealed Air Corp. 6.125% due 02/01/28 ~		107,000		108,305
Seaspan Corp. (Hong Kong) 5.500% due 08/01/29 ~		121,000		94,497
Sensata Technologies BV
5.000% due 10/01/25 ~		250,000		248,425
5.625% due 11/01/24 ~		200,000		199,600
5.875% due 09/01/30 ~		109,000		108,144
Silgan Holdings, Inc. 4.125% due 02/01/28		140,000		131,908

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

232

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PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
Spirit AeroSystems, Inc.
3.850% due 06/15/26		$350,000		$333,623
4.600% due 06/15/28		55,000		46,677
7.500% due 04/15/25 ~		75,000		75,074
SPX FLOW, Inc. 8.750% due 04/01/30 ~		167,000		144,308
Standard Industries, Inc.
3.375% due 01/15/31 ~		466,000		375,046
5.000% due 02/15/27 ~		460,000		437,511
Stericycle, Inc.
3.875% due 01/15/29 ~		324,000		283,247
5.375% due 07/15/24 ~		201,000		199,675
Summit Materials LLC/Summit Materials Finance Corp.
5.250% due 01/15/29 ~		165,000		156,167
6.500% due 03/15/27 ~		175,000		173,725
Tervita Corp. (Canada) 11.000% due 12/01/25 ~		210,000		225,897
Titan Acquisition Ltd./Titan Co.-Borrower LLC (Canada) 7.750% due 04/15/26 ~		155,000		129,971
TopBuild Corp. 4.125% due 02/15/32 ~		35,000		29,295
TransDigm UK Holdings PLC 6.875% due 05/15/26		235,000		231,704
TransDigm, Inc.
4.625% due 01/15/29		488,000		434,340
6.250% due 03/15/26 ~		990,000		991,906
6.750% due 08/15/28 ~		689,000		696,751
8.000% due 12/15/25 ~		140,000		142,712
TriMas Corp. 4.125% due 04/15/29 ~		100,000		88,120
Trinity Industries, Inc. 4.550% due 10/01/24		175,000		169,484
Triumph Group, Inc. 9.000% due 03/15/28 ~		137,000		137,315
Trivium Packaging Finance BV (Netherlands) 8.500% due 08/15/27 ~		200,000		182,192
TTM Technologies, Inc. 4.000% due 03/01/29 ~		390,000		339,848
Tutor Perini Corp. 6.875% due 05/01/25 ~		150,000		105,935
Waste Pro USA, Inc. 5.500% due 02/15/26 ~		240,000		220,965
Watco Cos LLC/Watco Finance Corp. 6.500% due 06/15/27 ~		200,000		187,720
WESCO Distribution, Inc.
7.125% due 06/15/25 ~		220,000		223,832
7.250% due 06/15/28 ~		190,000		195,278
Western Global Airlines LLC 10.375% due 08/15/25 ~		225,000		92,054
XPO CNW, Inc. 6.700% due 05/01/34		250,000		226,594
				21,224,631
Technology - 2.8%
Ahead DB Holdings LLC 6.625% due 05/01/28 ~		33,000		27,431
Alteryx, Inc. 8.750% due 03/15/28 ~		94,000		94,693
AthenaHealth Group, Inc. 6.500% due 02/15/30 ~		435,000		353,115
Black Knight InfoServ LLC 3.625% due 09/01/28 ~		164,000		149,445
Central Parent, Inc./CDK Global, Inc. 7.250% due 06/15/29 ~		185,000		181,999
Cloud Software Group Holdings, Inc. 6.500% due 03/31/29 ~		775,000		686,277
Conduent Business Services LLC/Conduent State & Local Solutions, Inc. 6.000% due 11/01/29 ~		100,000		78,989
Consensus Cloud Solutions, Inc.

	Principal Amount		Value
6.000% due 10/15/26 ~		$250,000		$217,416
6.500% due 10/15/28 ~		90,000		74,718
Crowdstrike Holdings, Inc. 3.000% due 02/15/29		115,000		100,467
CWT Travel Group, Inc. 8.500% due 11/19/26 ~		148,000		116,180
Diebold Nixdorf, Inc. 8.500% Cash or 12.500% PIK due 10/15/26 ~		101,747		25,978
Elastic NV 4.125% due 07/15/29 ~		165,000		141,045
Exela Intermediate LLC/Exela Finance, Inc. 11.500% due 07/15/26 ~		296,000		38,785
Fair Isaac Corp. 5.250% due 05/15/26 ~		100,000		100,030
McAfee Corp. 7.375% due 02/15/30 ~		465,000		390,318
NCR Corp. 5.125% due 04/15/29 ~		96,000		83,160
ON Semiconductor Corp. 3.875% due 09/01/28 ~		205,000		184,760
Open Text Corp. (Canada) 3.875% due 12/01/29 ~		117,000		98,619
PTC, Inc.
3.625% due 02/15/25 ~		77,000		74,332
4.000% due 02/15/28 ~		363,000		339,556
Rocket Software, Inc. 6.500% due 02/15/29 ~		200,000		157,706
Science Applications International Corp. 4.875% due 04/01/28 ~		160,000		149,188
Seagate HDD Cayman
4.875% due 03/01/24		300,000		296,637
5.750% due 12/01/34		50,000		45,688
SS&C Technologies, Inc. 5.500% due 09/30/27 ~		718,000		697,482
Synaptics, Inc. 4.000% due 06/15/29 ~		200,000		172,536
Unisys Corp. 6.875% due 11/01/27 ~		200,000		127,759
Veritas US, Inc./Veritas Bermuda Ltd. 7.500% due 09/01/25 ~		50,000		37,688
Western Digital Corp. 4.750% due 02/15/26		220,000		211,363
Xerox Corp. 6.750% due 12/15/39		150,000		107,606
				5,560,966
Utilities - 2.8%
Algonquin Power & Utilities Corp. (Canada) 4.750% due 01/18/82		100,000		80,141
AmeriGas Partners LP/AmeriGas Finance Corp.
5.500% due 05/20/25		65,000		62,424
5.625% due 05/20/24		165,000		161,901
5.875% due 08/20/26		484,000		463,612
Calpine Corp.
3.750% due 03/01/31 ~		265,000		223,772
4.500% due 02/15/28 ~		107,000		99,384
4.625% due 02/01/29 ~		200,000		172,958
5.000% due 02/01/31 ~		185,000		156,806
5.125% due 03/15/28 ~		339,000		310,833
5.250% due 06/01/26 ~		83,000		81,013
Clearway Energy Operating LLC
3.750% due 02/15/31 ~		300,000		259,020
3.750% due 01/15/32 ~		175,000		145,766
4.750% due 03/15/28 ~		174,000		166,363
DPL, Inc.
4.125% due 07/01/25		150,000		143,456
4.350% due 04/15/29		150,000		133,326
FirstEnergy Corp.
1.600% due 01/15/26		100,000		91,429
2.050% due 03/01/25		100,000		94,074
7.375% due 11/15/31		450,000		505,192

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

233

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PD HIGH YIELD BOND MARKET PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
NextEra Energy Operating Partners LP
3.875% due 10/15/26 ~		$300,000		$279,706
4.500% due 09/15/27 ~		158,000		151,037
NRG Energy, Inc.
3.375% due 02/15/29 ~		90,000		74,621
3.875% due 02/15/32 ~		639,000		511,897
5.750% due 01/15/28		197,000		193,493
Pattern Energy Operations LP/Pattern Energy Operations, Inc. 4.500% due 08/15/28 ~		185,000		169,537
PG&E Corp. 5.000% due 07/01/28		115,000		108,710
Pike Corp. 5.500% due 09/01/28 ~		171,000		149,806
Solaris Midstream Holdings LLC 7.625% due 04/01/26 ~		100,000		96,269
TransAlta Corp. (Canada) 6.500% due 03/15/40		100,000		92,184
Vistra Operations Co. LLC
5.000% due 07/31/27 ~		74,000		70,071
5.625% due 02/15/27 ~		250,000		242,956
				5,491,757
Total Corporate Bonds & Notes (Cost $208,337,126)				188,660,842
	Shares
SHORT-TERM INVESTMENT - 1.5%
Money Market Fund - 1.5%
BlackRock Liquidity Funds: T-Fund, Institutional Shares 4.700%		2,903,536		2,903,536
Total Short-Term Investment (Cost $2,903,536)				2,903,536
TOTAL INVESTMENTS - 98.5% (Cost $211,285,653)				191,567,958
OTHER ASSETS & LIABILITIES, NET - 1.5%				2,924,147
NET ASSETS - 100.0%				$194,492,105

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $830 or less than 0.1% of the Fund’s net assets were valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or the Board of Trustees.

(b) An investment with a value of $830 or less than 0.1% of the Fund’s net assets was in default as of March 31, 2023.

(c) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$3,580		$3,580		$-		$-
	Corporate Bonds & Notes		188,660,842		-		188,660,842		-
	Short-Term Investment		2,903,536		2,903,536		-		-
	Total		$191,567,958		$2,907,116		$188,660,842		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

234

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Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 98.4%
Basic Materials - 1.0%
Albemarle Corp.		2,531		$559,452
Axalta Coating Systems Ltd. *		2,364		71,606
CF Industries Holdings, Inc.		8,220		595,868
Chemours Co.		3,728		111,616
Ecolab, Inc.		9,201		1,523,042
FMC Corp.		1,757		214,582
Linde PLC		4,361		1,550,074
Mosaic Co.		1,504		69,004
MP Materials Corp. *		4,119		116,115
PPG Industries, Inc.		5,254		701,829
Royal Gold, Inc.		219		28,406
RPM International, Inc.		295		25,736
Sherwin-Williams Co.		10,049		2,258,714
Southern Copper Corp. (Mexico)		2,213		168,741
Valvoline, Inc.		7,209		251,882
				8,246,667
Communications - 13.5%
Airbnb, Inc. Class A *		15,765		1,961,166
Alphabet, Inc. Class A *		219,949		22,815,310
Alphabet, Inc. Class C *		191,273		19,892,392
Amazon.com, Inc. *		373,561		38,585,116
Arista Networks, Inc. *		10,333		1,734,497
Booking Holdings, Inc. *		1,630		4,323,428
Cable One, Inc.		130		91,260
CDW Corp.		5,677		1,106,391
Charter Communications, Inc. Class A *		4,418		1,579,921
Corning, Inc.		2,023		71,371
DoorDash, Inc. Class A *		9,286		590,218
eBay, Inc.		2,741		121,618
Etsy, Inc. *		5,249		584,371
Expedia Group, Inc. *		6,192		600,810
FactSet Research Systems, Inc.		1,593		661,238
Gen Digital, Inc.		8,249		141,553
GoDaddy, Inc. Class A *		927		72,046
Liberty Broadband Corp. Class A *		440		36,133
Liberty Broadband Corp. Class C *		2,327		190,116
Liberty Media Corp. - Liberty Formula One Class C *		1,020		76,327
Liberty Media Corp. - Liberty SiriusXM Class A *		947		26,601
Liberty Media Corp. - Liberty SiriusXM Class C *		1,953		54,664
Lyft, Inc. Class A *		11,133		103,203
Match Group, Inc. *		10,964		420,908
Meta Platforms, Inc. Class A *		19,920		4,221,845
Netflix, Inc. *		8,298		2,866,793
Nexstar Media Group, Inc.		99		17,093
Okta, Inc. *		858		73,994
Opendoor Technologies, Inc. *		8,920		15,699
Palo Alto Networks, Inc. *		12,493		2,495,352
Pinterest, Inc. Class A *		5,501		150,012
Roku, Inc. *		1,539		101,297
Spotify Technology SA *		5,877		785,285
Trade Desk, Inc. Class A *		18,426		1,122,328
TripAdvisor, Inc. *		376		7,467
Uber Technologies, Inc. *		69,838		2,213,865
Ubiquiti, Inc.		78		21,192
VeriSign, Inc. *		466		98,480
Walt Disney Co. *		5,131		513,767
Warner Bros Discovery, Inc. *		72,709		1,097,906
Wayfair, Inc. Class A *		1,781		61,160
Wix.com Ltd. * (Israel)		1,800		179,640
World Wrestling Entertainment, Inc. Class A		1,807		164,907
Zillow Group, Inc. Class C *		454		20,189
				112,068,929

	Shares		Value
Consumer, Cyclical - 10.8%
Advance Auto Parts, Inc.		219		$26,633
Allison Transmission Holdings, Inc.		3,058		138,344
Aptiv PLC *		2,849		319,629
AutoZone, Inc. *		715		1,757,577
Best Buy Co., Inc.		2,598		203,345
BJ’s Wholesale Club Holdings, Inc. *		3,535		268,907
Brunswick Corp.		640		52,480
Burlington Stores, Inc. *		2,554		516,163
Caesars Entertainment, Inc. *		5,908		288,369
CarMax, Inc. *		567		36,447
Carvana Co. *		5,288		51,770
Chipotle Mexican Grill, Inc. *		1,154		1,971,367
Choice Hotels International, Inc.		1,350		158,206
Churchill Downs, Inc.		1,498		385,061
Copart, Inc. *		17,898		1,346,109
Core & Main, Inc. Class A *		899		20,767
Costco Wholesale Corp.		18,608		9,245,757
Darden Restaurants, Inc.		3,752		582,160
Deckers Outdoor Corp. *		976		438,761
Delta Air Lines, Inc. *		26,878		938,580
Dollar General Corp.		9,470		1,993,056
Dollar Tree, Inc. *		2,718		390,169
Domino’s Pizza, Inc.		1,083		357,249
DR Horton, Inc.		6,942		678,164
DraftKings, Inc. Class A *		14,856		287,612
Fastenal Co.		24,172		1,303,838
Five Below, Inc. *		2,291		471,877
Floor & Decor Holdings, Inc. Class A *		4,333		425,587
Freshpet, Inc. *		1,154		76,383
Genuine Parts Co.		511		85,495
Hilton Worldwide Holdings, Inc.		7,968		1,122,452
Home Depot, Inc.		24,842		7,331,371
Las Vegas Sands Corp. *		5,180		297,591
Leslie’s, Inc. *		6,503		71,598
Live Nation Entertainment, Inc. *		3,273		229,110
Lowe’s Cos., Inc.		21,943		4,387,942
Lucid Group, Inc. *		22,664		182,219
Lululemon Athletica, Inc. *		4,690		1,708,051
Madison Square Garden Sports Corp.		402		78,330
Marriott International, Inc. Class A		11,150		1,851,346
Mattel, Inc. *		7,692		141,610
McDonald’s Corp.		7,548		2,110,496
NIKE, Inc. Class B		50,560		6,200,678
Nordstrom, Inc.		4,322		70,319
Norwegian Cruise Line Holdings Ltd. *		2,090		28,110
NVR, Inc. *		88		490,353
O’Reilly Automotive, Inc. *		1,062		901,617
Planet Fitness, Inc. Class A *		2,582		200,544
Polaris, Inc.		1,712		189,399
Pool Corp.		1,597		546,877
PulteGroup, Inc.		3,721		216,860
RH *		285		69,412
Ross Stores, Inc.		6,070		644,209
Scotts Miracle-Gro Co.		627		43,727
SiteOne Landscape Supply, Inc. *		1,108		151,652
Six Flags Entertainment Corp. *		1,629		43,511
Skechers USA, Inc. Class A *		592		28,132
Starbucks Corp.		17,350		1,806,655
Tapestry, Inc.		1,109		47,809
Target Corp.		10,724		1,776,216
Tesla, Inc. *		108,623		22,534,928
TJX Cos., Inc.		48,779		3,822,322
Toll Brothers, Inc.		2,218		133,147
Tractor Supply Co.		4,637		1,089,880
Travel & Leisure Co.		2,615		102,508
Ulta Beauty, Inc. *		2,116		1,154,638
Vail Resorts, Inc.		1,597		373,187
Victoria’s Secret, Inc. *		2,740		93,571
Watsco, Inc.		714		227,166

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

235

PACIFIC SELECT FUND

PD LARGE-CAP GROWTH INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Wendy’s Co.		7,159		$ 155,923
WESCO International, Inc.		910		140,631
Williams-Sonoma, Inc.		2,200		267,652
WW Grainger, Inc.		1,892		1,303,229
Wyndham Hotels & Resorts, Inc.		2,529		171,593
Wynn Resorts Ltd. *		608		68,041
YETI Holdings, Inc. *		3,374		134,960
Yum! Brands, Inc.		1,313		173,421
				89,730,855
Consumer, Non-Cyclical - 17.3%
10X Genomics, Inc. Class A *		3,361		187,510
Abbott Laboratories		9,513		963,286
AbbVie, Inc.		74,279		11,837,844
agilon health, Inc. *		7,413		176,059
Align Technology, Inc. *		2,471		825,660
Alnylam Pharmaceuticals, Inc. *		5,161		1,033,852
AmerisourceBergen Corp.		6,846		1,096,113
Amgen, Inc.		18,852		4,557,471
Automatic Data Processing, Inc.		16,110		3,586,569
Avantor, Inc. *		23,786		502,836
Avery Dennison Corp.		2,102		376,111
Baxter International, Inc.		3,567		144,678
Bio-Techne Corp.		6,532		484,609
Booz Allen Hamilton Holding Corp.		5,511		510,815
Boston Beer Co., Inc. Class A *		356		117,017
Bright Horizons Family Solutions, Inc. *		756		58,204
Brown-Forman Corp. Class A		1,192		77,707
Brown-Forman Corp. Class B		4,531		291,207
Bruker Corp.		4,501		354,859
Catalent, Inc. *		2,472		162,435
Certara, Inc. *		2,623		63,241
Charles River Laboratories International, Inc. *		1,975		398,595
Chemed Corp.		203		109,163
Church & Dwight Co., Inc.		4,618		408,277
Cigna Group		1,958		500,328
Cintas Corp.		3,392		1,569,411
Clorox Co.		4,289		678,691
Coca-Cola Co.		123,077		7,634,466
Colgate-Palmolive Co.		21,397		1,607,985
CoStar Group, Inc. *		2,422		166,755
Danaher Corp.		1,850		466,274
Darling Ingredients, Inc. *		213		12,439
DaVita, Inc. *		2,335		189,392
Dexcom, Inc. *		16,185		1,880,373
Edwards Lifesciences Corp. *		25,954		2,147,174
Elevance Health, Inc.		3,080		1,416,215
Eli Lilly & Co.		28,827		9,899,768
Equifax, Inc.		2,552		517,648
Estee Lauder Cos., Inc. Class A		9,643		2,376,614
Euronet Worldwide, Inc. *		1,438		160,912
Exact Sciences Corp. *		1,437		97,443
Exelixis, Inc. *		11,000		213,510
FleetCor Technologies, Inc. *		3,014		635,502
FTI Consulting, Inc. *		643		126,896
Gartner, Inc. *		3,223		1,049,957
GE HealthCare Technologies, Inc. *		929		76,206
Ginkgo Bioworks Holdings, Inc. *		9,821		13,062
Globus Medical, Inc. Class A *		5		283
Grocery Outlet Holding Corp. *		577		16,306
Guardant Health, Inc. *		3,971		93,080
GXO Logistics, Inc. *		523		26,391
H&R Block, Inc.		5,276		185,979
HCA Healthcare, Inc.		531		140,014
Hershey Co.		5,314		1,351,935
Horizon Therapeutics PLC *		8,644		943,406
Humana, Inc.		3,751		1,820,960
ICU Medical, Inc. *		170		28,043
IDEXX Laboratories, Inc. *		3,452		1,726,276
Incyte Corp. *		6,628		479,006

	Shares		Value
Insulet Corp. *		2,890		$ 921,794
Intuitive Surgical, Inc. *		13,636		3,483,589
Ionis Pharmaceuticals, Inc. *		5,311		189,815
IQVIA Holdings, Inc. *		7,790		1,549,353
Kellogg Co.		5,866		392,787
Kimberly-Clark Corp.		8,383		1,125,166
Lamb Weston Holdings, Inc.		6,051		632,451
Maravai LifeSciences Holdings, Inc. Class A *		5,092		71,339
MarketAxess Holdings, Inc.		1,559		610,021
Masimo Corp. *		1,524		281,239
McKesson Corp.		1,128		401,624
Merck & Co., Inc.		44,548		4,739,462
Mister Car Wash, Inc. *		2,422		20,878
Moderna, Inc. *		781		119,946
Molina Healthcare, Inc. *		1,866		499,136
Monster Beverage Corp. *		28,454		1,536,801
Moody’s Corp.		6,332		1,937,719
Morningstar, Inc.		946		192,066
Natera, Inc. *		3,809		211,476
Neurocrine Biosciences, Inc. *		4,021		407,006
Novavax, Inc. *		3,498		24,241
Novocure Ltd. *		4,337		260,827
Olaplex Holdings, Inc. *		5,642		24,091
Paylocity Holding Corp. *		1,686		335,143
PayPal Holdings, Inc. *		14,753		1,120,343
Penumbra, Inc. *		1,497		417,199
PepsiCo, Inc.		49,097		8,950,383
Performance Food Group Co. *		2,133		128,705
Pilgrim’s Pride Corp. *		1,027		23,806
Procter & Gamble Co.		42,263		6,284,085
Quanta Services, Inc.		3,262		543,580
Regeneron Pharmaceuticals, Inc. *		636		522,582
Repligen Corp. *		1,653		278,299
ResMed, Inc.		6,067		1,328,612
Ritchie Bros Auctioneers, Inc. (Canada)		2,342		131,831
Robert Half International, Inc.		3,913		315,270
Rollins, Inc.		9,007		338,033
Sarepta Therapeutics, Inc. *		3,533		486,953
Seagen, Inc. *		5,708		1,155,699
Shift4 Payments, Inc. Class A *		2,119		160,620
Sotera Health Co. *		4,611		82,583
Stryker Corp.		7,900		2,255,213
Syneos Health, Inc. *		750		26,715
Sysco Corp.		21,334		1,647,625
Tandem Diabetes Care, Inc. *		2,700		109,647
Teladoc Health, Inc. *		761		19,710
Thermo Fisher Scientific, Inc.		2,006		1,156,198
Toast, Inc. Class A *		10,200		181,050
TransUnion		5,922		367,993
Ultragenyx Pharmaceutical, Inc. *		2,248		90,145
United Rentals, Inc.		1,346		532,693
UnitedHealth Group, Inc.		35,774		16,906,435
Verisk Analytics, Inc.		6,522		1,251,311
Vertex Pharmaceuticals, Inc. *		10,145		3,196,385
Waters Corp. *		2,480		767,882
West Pharmaceutical Services, Inc.		3,109		1,077,175
WEX, Inc. *		1,257		231,150
WillScot Mobile Mini Holdings Corp. *		4,542		212,929
Zoetis, Inc.		19,788		3,293,515
				144,133,142
Energy - 1.5%
Antero Resources Corp. *		7,641		176,431
Cheniere Energy, Inc.		6,010		947,176
Coterra Energy, Inc.		4,901		120,270
Devon Energy Corp.		13,356		675,947
Diamondback Energy, Inc.		4,293		580,285
Enphase Energy, Inc. *		5,496		1,155,699
Enviva, Inc.		1,390		40,143
EOG Resources, Inc.		17,965		2,059,328

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

236

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Halliburton Co.		17,091		$ 540,759
Hess Corp.		9,259		1,225,336
New Fortress Energy, Inc.		2,391		70,367
Occidental Petroleum Corp.		27,546		1,719,697
ONEOK, Inc.		2,281		144,935
Ovintiv, Inc.		7,336		264,683
PDC Energy, Inc.		1,906		122,327
Pioneer Natural Resources Co.		5,492		1,121,686
Plug Power, Inc. *		11,720		137,358
Range Resources Corp.		6,525		172,717
Southwestern Energy Co. *		3,587		17,935
Targa Resources Corp.		9,486		692,004
Texas Pacific Land Corp.		240		408,245
				12,393,328
Financial - 7.1%
American Express Co.		1,575		259,796
American Tower Corp. REIT		14,956		3,056,109
Ameriprise Financial, Inc.		2,818		863,717
Aon PLC Class A		8,110		2,557,002
Apartment Income REIT Corp. REIT		594		21,271
Apollo Global Management, Inc.		15,473		977,275
Arch Capital Group Ltd. *		4,833		328,016
Ares Management Corp. Class A		6,439		537,270
Arthur J Gallagher & Co.		946		180,979
Assurant, Inc.		164		19,691
Blackstone, Inc.		29,814		2,618,862
Blue Owl Capital, Inc.		17,710		196,227
Brown & Brown, Inc.		808		46,395
Camden Property Trust REIT		395		41,412
CBRE Group, Inc. Class A *		6,459		470,280
Charles Schwab Corp.		35,454		1,857,080
Crown Castle, Inc. REIT		18,132		2,426,787
Equinix, Inc. REIT		2,926		2,109,763
Equity LifeStyle Properties, Inc. REIT		4,570		306,784
Erie Indemnity Co. Class A		779		180,463
Everest Re Group Ltd.		477		170,776
Extra Space Storage, Inc. REIT		716		116,658
First Citizens BancShares, Inc. Class A		94		91,471
Iron Mountain, Inc. REIT		9,077		480,264
Lamar Advertising Co. Class A REIT		3,194		319,049
Lincoln National Corp.		1,760		39,547
LPL Financial Holdings, Inc.		3,342		676,421
Markel Corp. *		120		153,289
Marsh & McLennan Cos., Inc.		18,589		3,095,998
Mastercard, Inc. Class A		35,763		12,996,632
Progressive Corp.		21,345		3,053,616
Public Storage REIT		5,213		1,575,056
Raymond James Financial, Inc.		709		66,128
RenaissanceRe Holdings Ltd. (Bermuda)		957		191,725
Rocket Cos., Inc. Class A *		2,998		27,162
Ryan Specialty Holdings, Inc. *		3,117		125,428
SBA Communications Corp. REIT		1,021		266,552
Simon Property Group, Inc. REIT		6,644		743,929
Tradeweb Markets, Inc. Class A		2,761		218,174
Upstart Holdings, Inc. *		636		10,106
UWM Holdings Corp.		3,214		15,781
Visa, Inc. Class A		68,319		15,403,202
Western Alliance Bancorp		2,938		104,417
Western Union Co.		3,917		43,675
				59,040,235
Industrial - 6.6%
Advanced Drainage Systems, Inc.		2,614		220,125
AECOM		376		31,704
AGCO Corp.		414		55,973
Agilent Technologies, Inc.		11,155		1,543,183
Allegion PLC		2,914		311,011
Amphenol Corp. Class A		18,543		1,515,334
AO Smith Corp.		1,403		97,017

	Shares		Value
Ardagh Metal Packaging SA		3,859		$ 15,745
Armstrong World Industries, Inc.		1,117		79,575
Arrow Electronics, Inc. *		19		2,373
Axon Enterprise, Inc. *		2,195		493,546
Ball Corp.		5,153		283,982
Berry Global Group, Inc.		2,444		143,952
Boeing Co. *		7,242		1,538,418
BWX Technologies, Inc.		1,616		101,873
Carlisle Cos., Inc.		1,820		411,447
Caterpillar, Inc.		19,049		4,359,173
CH Robinson Worldwide, Inc.		1,295		128,684
ChargePoint Holdings, Inc. *		11,604		121,494
Cognex Corp.		6,791		336,494
Coherent Corp. *		925		35,224
Crown Holdings, Inc.		4,257		352,096
CSX Corp.		22,243		665,955
Deere & Co.		11,411		4,711,374
Donaldson Co., Inc.		669		43,712
Eagle Materials, Inc.		1,246		182,851
Emerson Electric Co.		7,614		663,484
Expeditors International of Washington, Inc.		2,058		226,627
Fortune Brands Innovations, Inc.		1,635		96,024
Generac Holdings, Inc. *		2,615		282,446
General Electric Co.		2,530		241,868
Graco, Inc.		4,833		352,857
Graphic Packaging Holding Co.		9,721		247,788
HEICO Corp.		1,768		302,399
HEICO Corp. Class A		3,105		421,970
Honeywell International, Inc.		8,327		1,591,456
Howmet Aerospace, Inc.		1,760		74,571
Huntington Ingalls Industries, Inc.		393		81,359
IDEX Corp.		614		141,852
Illinois Tool Works, Inc.		11,545		2,810,630
Jabil, Inc.		4,457		392,929
JB Hunt Transport Services, Inc.		3,083		540,943
Keysight Technologies, Inc. *		6,969		1,125,354
Landstar System, Inc.		1,334		239,133
Lincoln Electric Holdings, Inc.		2,352		397,723
Lockheed Martin Corp.		9,570		4,524,026
Louisiana-Pacific Corp.		466		25,262
Martin Marietta Materials, Inc.		248		88,055
Masco Corp.		557		27,694
Masterbrand, Inc. *		2,045		16,442
Mettler-Toledo International, Inc. *		923		1,412,384
Middleby Corp. *		170		24,924
MSA Safety, Inc.		618		82,503
National Instruments Corp.		772		40,461
Nordson Corp.		615		136,690
Northrop Grumman Corp.		709		327,360
Old Dominion Freight Line, Inc.		4,171		1,421,644
Otis Worldwide Corp.		2,060		173,864
Parker-Hannifin Corp.		1,220		410,054
Republic Services, Inc.		599		80,997
Rockwell Automation, Inc.		3,256		955,473
RXO, Inc. *		353		6,933
Sealed Air Corp.		6,119		280,923
Spirit AeroSystems Holdings, Inc. Class A		4,496		155,247
Tetra Tech, Inc.		829		121,788
TopBuild Corp. *		1,130		235,198
Toro Co.		4,381		486,992
Trane Technologies PLC		5,606		1,031,392
TransDigm Group, Inc.		835		615,437
Trex Co., Inc. *		4,624		225,050
Union Pacific Corp.		25,829		5,198,345
United Parcel Service, Inc. Class B		27,559		5,346,170
Universal Display Corp.		1,823		282,802
Valmont Industries, Inc.		133		42,464
Vertiv Holdings Co.		2,178		31,167
Vontier Corp.		4,244		116,031
Vulcan Materials Co.		2,713		465,442
Waste Management, Inc.		16,153		2,635,685
XPO, Inc. *		353		11,261
Xylem, Inc.		1,139		119,253
				55,169,141

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

237

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PD LARGE-CAP GROWTH INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Technology - 40.5%
Accenture PLC Class A		26,631		$7,611,406
Adobe, Inc. *		19,216		7,405,270
Advanced Micro Devices, Inc. *		53,492		5,242,751
Allegro MicroSystems, Inc. * (Japan)		2,782		133,508
Alteryx, Inc. Class A *		2,321		136,568
Analog Devices, Inc.		4,271		842,327
ANSYS, Inc. *		1,925		640,640
Apple, Inc.		631,668		104,162,053
Applied Materials, Inc.		35,366		4,344,006
AppLovin Corp. Class A *		8,532		134,379
Aspen Technology, Inc. *		1,132		259,081
Atlassian Corp. Class A *		6,110		1,045,849
Autodesk, Inc. *		9,142		1,902,999
Bentley Systems, Inc. Class B		7,078		304,283
Black Knight, Inc. *		653		37,587
Broadcom, Inc.		16,600		10,649,564
Broadridge Financial Solutions, Inc.		4,448		651,943
Cadence Design Systems, Inc. *		11,456		2,406,791
CCC Intelligent Solutions Holdings, Inc. *		2,979		26,722
Ceridian HCM Holding, Inc. *		1,180		86,400
Cloudflare, Inc. Class A *		11,874		732,151
Confluent, Inc. Class A *		5,639		135,731
Crowdstrike Holdings, Inc. Class A *		9,044		1,241,379
Datadog, Inc. Class A *		11,148		810,014
Definitive Healthcare Corp. *		1,131		11,683
Dell Technologies, Inc. Class C		1,244		50,021
DocuSign, Inc. *		8,294		483,540
DoubleVerify Holdings, Inc. *		2,703		81,495
Doximity, Inc. Class A *		2,096		67,868
Dropbox, Inc. Class A *		10,495		226,902
Dynatrace, Inc. *		9,285		392,755
Elastic NV *		3,248		188,059
Electronic Arts, Inc.		789		95,035
Entegris, Inc.		6,231		511,004
EPAM Systems, Inc. *		2,304		688,896
Fair Isaac Corp. *		1,019		716,041
Fiserv, Inc. *		2,250		254,317
Five9, Inc. *		2,939		212,460
Fortinet, Inc. *		27,097		1,800,867
Genpact Ltd.		3,800		175,636
GLOBALFOUNDRIES, Inc. *		686		49,515
Globant SA *		1,709		280,293
HP, Inc.		18,939		555,860
HubSpot, Inc. *		1,944		833,490
International Business Machines Corp.		25,265		3,311,989
Intuit, Inc.		11,582		5,163,603
Jack Henry & Associates, Inc.		3,047		459,244
Jamf Holding Corp. *		2,279		44,258
KBR, Inc.		3,636		200,162
KLA Corp.		5,819		2,322,770
Lam Research Corp.		5,664		3,002,600
Lattice Semiconductor Corp. *		5,697		544,063
Manhattan Associates, Inc. *		1,607		248,844
Microchip Technology, Inc.		19,089		1,599,276
Micron Technology, Inc.		8,624		520,372
Microsoft Corp.		314,480		90,664,584
MongoDB, Inc. *		2,784		649,006
Monolithic Power Systems, Inc.		1,925		963,539
MSCI, Inc.		2,457		1,375,158
nCino, Inc. *		506		12,539
NCR Corp. *		300		7,077
NetApp, Inc.		9,124		582,567
New Relic, Inc. *		2,116		159,314
Nutanix, Inc. Class A *		4,829		125,506
NVIDIA Corp.		99,436		27,620,338

	Shares		Value
ON Semiconductor Corp. *		11,368		$ 935,814
Oracle Corp.		44,135		4,101,024
Palantir Technologies, Inc. Class A *		77,239		652,670
Paychex, Inc.		13,546		1,552,236
Paycom Software, Inc. *		2,149		653,317
Pegasystems, Inc.		1,787		86,634
Playtika Holding Corp. *		2,535		28,544
Procore Technologies, Inc. *		2,112		132,275
PTC, Inc. *		4,470		573,188
Pure Storage, Inc. Class A *		11,972		305,406
QUALCOMM, Inc.		47,093		6,008,125
RingCentral, Inc. Class A *		3,792		116,301
ROBLOX Corp. Class A *		18,784		844,904
Salesforce, Inc. *		8,656		1,729,296
SentinelOne, Inc. Class A *		5,472		89,522
ServiceNow, Inc. *		8,522		3,960,344
Smartsheet, Inc. Class A *		5,337		255,109
Snowflake, Inc. Class A *		12,190		1,880,795
Splunk, Inc. *		6,832		655,052
Synopsys, Inc. *		6,403		2,473,159
Take-Two Interactive Software, Inc. *		5,746		685,498
Teradata Corp. *		2,565		103,318
Teradyne, Inc.		5,964		641,190
Texas Instruments, Inc.		26,125		4,859,511
Thoughtworks Holding, Inc. *		3,865		28,446
Twilio, Inc. Class A *		2,580		171,905
Tyler Technologies, Inc. *		1,508		534,797
UiPath, Inc. Class A *		1,558		27,358
Unity Software, Inc. *		6,670		216,375
Veeva Systems, Inc. Class A *		5,851		1,075,355
VMware, Inc. Class A *		4,369		545,470
Workday, Inc. Class A *		8,388		1,732,458
Zebra Technologies Corp. Class A *		888		282,384
Zoom Video Communications, Inc. Class A *		5,199		383,894
ZoomInfo Technologies, Inc. *		11,539		285,129
Zscaler, Inc. *		3,543		413,929
				337,216,680
Utilities - 0.1%
AES Corp.		5,453		131,308
National Fuel Gas Co.		357		20,613
Vistra Corp.		9,516		228,384
				380,305
Total Common Stocks (Cost $693,872,292)				818,379,282
EXCHANGE-TRADED FUND - 1.0%
iShares Russell 1000 Growth		35,029		8,558,636
Total Exchange-Traded Fund (Cost $7,657,725)				8,558,636

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

238

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 0.6%
Repurchase Agreement - 0.6%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $4,890,011; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $4,986,039)		$4,888,198		$4,888,198
Total Short-Term Investment (Cost $4,888,198)				4,888,198
TOTAL INVESTMENTS - 100.0% (Cost $706,418,215)				831,826,116
DERIVATIVES - 0.0%				364,915
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(229,258	)
NET ASSETS - 100.0%				$831,961,773

Notes to Schedule of Investments

(a) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month		Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Nasdaq 100 E-Mini Index		06/23		12		$2,939,017		$3,192,420		$253,403
S&P 500 E-Mini Index		06/23		11		2,164,251		2,275,763		111,512
Total Futures Contracts										$364,915

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks		$818,379,282		$818,379,282		$-		$-
	Exchange-Traded Fund		8,558,636		8,558,636		-		-
	Short-Term Investment		4,888,198		-		4,888,198		-
	Derivatives:
	Equity Contracts
	Futures		364,915		364,915		-		-
	Total		$832,191,031		$827,302,833		$4,888,198		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

239

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PD LARGE-CAP VALUE INDEX PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 98.3%
Basic Materials - 3.5%
Air Products & Chemicals, Inc.		11,633		$3,341,114
Albemarle Corp.		2,949		651,847
Alcoa Corp.		9,183		390,829
Ashland, Inc.		2,749		282,350
Axalta Coating Systems Ltd. *		8,682		262,978
Celanese Corp.		5,626		612,615
Chemours Co.		2,836		84,910
Cleveland-Cliffs, Inc. *		26,545		486,570
Dow, Inc.		37,153		2,036,727
DuPont de Nemours, Inc.		24,259		1,741,068
Eastman Chemical Co.		6,213		524,004
Ecolab, Inc.		1,559		258,061
Element Solutions, Inc.		11,900		229,789
FMC Corp.		4,306		525,892
Freeport-McMoRan, Inc.		74,879		3,063,300
Huntsman Corp.		9,469		259,072
International Flavors & Fragrances, Inc.		13,576		1,248,449
International Paper Co.		18,451		665,343
Linde PLC		20,509		7,289,719
LyondellBasell Industries NV Class A		13,678		1,284,227
Mosaic Co.		15,495		710,911
NewMarket Corp.		317		115,699
Newmont Corp.		41,874		2,052,664
Nucor Corp.		13,515		2,087,662
Olin Corp.		6,445		357,698
PPG Industries, Inc.		5,742		767,016
Reliance Steel & Aluminum Co.		3,034		778,949
Royal Gold, Inc.		3,209		416,239
RPM International, Inc.		6,292		548,914
Southern Copper Corp. (Mexico)		1,757		133,971
SSR Mining, Inc. (Canada)		11,736		177,448
Steel Dynamics, Inc.		8,649		977,856
United States Steel Corp.		11,705		305,501
Westlake Corp.		1,787		207,256
				34,876,648
Communications - 10.1%
Alphabet, Inc. Class A *		41,091		4,262,369
Alphabet, Inc. Class C *		35,734		3,716,336
Altice USA, Inc. Class A *		9,681		33,109
AT&T, Inc.		376,220		7,242,235
Cable One, Inc.		101		70,902
Ciena Corp. *		7,654		401,988
Cisco Systems, Inc.		215,944		11,288,473
Comcast Corp. Class A		219,810		8,332,997
Corning, Inc.		36,814		1,298,798
DISH Network Corp. Class A *		12,609		117,642
DoorDash, Inc. Class A *		1,330		84,535
eBay, Inc.		24,545		1,089,062
F5, Inc. *		3,093		450,619
Fox Corp. Class A		15,154		515,994
Fox Corp. Class B		7,604		238,081
Frontier Communications Parent, Inc. *		12,722		289,680
Gen Digital, Inc.		18,495		317,374
GoDaddy, Inc. Class A *		7,007		544,584
IAC, Inc. *		4,313		222,551
Interpublic Group of Cos., Inc.		20,158		750,684
Juniper Networks, Inc.		16,601		571,406
Liberty Broadband Corp. Class A *		516		42,374
Liberty Broadband Corp. Class C *		3,314		270,754
Liberty Media Corp. - Liberty Formula One Class A *		1,241		83,767
Liberty Media Corp. - Liberty Formula One Class C *		9,257		692,701
Liberty Media Corp. - Liberty SiriusXM Class A *		3,543		99,523
Liberty Media Corp. - Liberty SiriusXM Class C *		6,209		173,790

	Shares		Value
Lumen Technologies, Inc.		59,327		$157,216
Lyft, Inc. Class A *		2,837		26,299
Match Group, Inc. *		831		31,902
Meta Platforms, Inc. Class A *		92,023		19,503,355
Motorola Solutions, Inc.		8,661		2,478,172
Netflix, Inc. *		12,629		4,363,067
New York Times Co. Class A		8,436		327,992
News Corp. Class A		19,732		340,772
News Corp. Class B		5,501		95,882
Nexstar Media Group, Inc.		1,711		295,421
Okta, Inc. *		6,790		585,570
Omnicom Group, Inc.		10,415		982,551
Opendoor Technologies, Inc. *		16,826		29,614
Paramount Global Class A		1,569		40,543
Paramount Global Class B		29,961		668,430
Pinterest, Inc. Class A *		24,347		663,943
Robinhood Markets, Inc. Class A *		29,679		288,183
Roku, Inc. *		4,535		298,494
Sirius XM Holdings, Inc.		40,400		160,388
T-Mobile US, Inc. *		30,814		4,463,100
TripAdvisor, Inc. *		4,343		86,252
Uber Technologies, Inc. *		13,372		423,892
Ubiquiti, Inc.		210		57,055
VeriSign, Inc. *		4,448		939,996
Verizon Communications, Inc.		220,856		8,589,090
Viasat, Inc. *		3,959		133,972
Walt Disney Co. *		89,329		8,944,513
Warner Bros Discovery, Inc. *		32,605		492,335
Wayfair, Inc. Class A *		1,508		51,785
Wix.com Ltd. * (Israel)		552		55,090
Zillow Group, Inc. Class A *		2,529		110,517
Zillow Group, Inc. Class C *		7,799		346,821
				99,234,540
Consumer, Cyclical - 8.0%
Advance Auto Parts, Inc.		2,834		344,643
Alaska Air Group, Inc. *		6,499		272,698
Allison Transmission Holdings, Inc.		817		36,961
AMC Entertainment Holdings, Inc. Class A *		30,513		152,870
American Airlines Group, Inc. *		33,551		494,877
Aptiv PLC *		10,779		1,209,296
Aramark		12,216		437,333
AutoNation, Inc. *		1,794		241,042
AutoZone, Inc. *		96		235,982
Bath & Body Works, Inc.		11,885		434,753
Best Buy Co., Inc.		7,056		552,273
BJ’s Wholesale Club Holdings, Inc. *		2,651		201,662
BorgWarner, Inc.		12,123		595,361
Boyd Gaming Corp.		4,174		267,637
Brunswick Corp.		3,100		254,200
Burlington Stores, Inc. *		158		31,932
Caesars Entertainment, Inc. *		3,493		170,493
Capri Holdings Ltd. *		6,533		307,051
CarMax, Inc. *		7,250		466,030
Carnival Corp. *		50,679		514,392
Carter’s, Inc.		1,865		134,131
Casey’s General Stores, Inc.		1,925		416,686
Columbia Sportswear Co.		1,979		178,585
Copa Holdings SA Class A * (Panama)		1,444		133,353
Core & Main, Inc. Class A *		1,979		45,715
Cummins, Inc.		7,446		1,778,701
Darden Restaurants, Inc.		1,743		270,444
Deckers Outdoor Corp. *		146		65,634
Dick’s Sporting Goods, Inc.		2,761		391,758
Dolby Laboratories, Inc. Class A		3,236		276,419
Dollar Tree, Inc. *		7,485		1,074,472
Domino’s Pizza, Inc.		535		176,480
DR Horton, Inc.		7,803		762,275
Ford Motor Co.		207,374		2,612,912
Freshpet, Inc. *		928		61,424
GameStop Corp. Class A *		14,146		325,641

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

240

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Gap, Inc.		9,067		$91,033
General Motors Co.		73,146		2,682,995
Gentex Corp.		12,204		342,078
Genuine Parts Co.		6,629		1,109,098
Hanesbrands, Inc.		16,128		84,833
Harley-Davidson, Inc.		6,988		265,334
Hasbro, Inc.		6,825		366,434
Hilton Worldwide Holdings, Inc.		3,778		532,207
Home Depot, Inc.		22,491		6,637,544
Hyatt Hotels Corp. Class A *		2,472		276,345
JetBlue Airways Corp. *		18,225		132,678
Kohl’s Corp.		5,646		132,907
Las Vegas Sands Corp. *		10,775		619,024
Lear Corp.		3,056		426,281
Leggett & Platt, Inc.		6,911		220,323
Lennar Corp. Class A		13,296		1,397,543
Lennar Corp. Class B		706		63,053
Leslie’s, Inc. *		436		4,800
Lithia Motors, Inc.		1,449		331,720
Live Nation Entertainment, Inc. *		4,051		283,570
LKQ Corp.		12,986		737,085
Lowe’s Cos., Inc.		4,310		861,871
Lucid Group, Inc. *		1,501		12,068
Macy’s, Inc.		14,631		255,896
Madison Square Garden Sports Corp.		554		107,947
Marriott Vacations Worldwide Corp.		1,942		261,898
Mattel, Inc. *		10,142		186,714
McDonald’s Corp.		29,396		8,219,416
MGM Resorts International		16,449		730,665
MSC Industrial Direct Co., Inc. Class A		2,400		201,600
Newell Brands, Inc.		20,687		257,346
Nordstrom, Inc.		609		9,908
Norwegian Cruise Line Holdings Ltd. *		20,892		280,997
NVR, Inc. *		45		250,749
O’Reilly Automotive, Inc. *		1,943		1,649,568
Ollie’s Bargain Outlet Holdings, Inc. *		2,965		171,792
PACCAR, Inc.		26,994		1,975,961
Peloton Interactive, Inc. Class A *		16,300		184,842
Penn Entertainment, Inc. *		8,075		239,505
Penske Automotive Group, Inc.		1,387		196,690
Petco Health & Wellness Co., Inc. *		4,181		37,629
Planet Fitness, Inc. Class A *		1,192		92,583
Polaris, Inc.		896		99,124
PulteGroup, Inc.		7,171		417,926
PVH Corp.		3,520		313,843
QuantumScape Corp. *		15,218		124,483
Ralph Lauren Corp.		2,106		245,707
RH *		617		150,270
Rivian Automotive, Inc. Class A *		26,997		417,914
Ross Stores, Inc.		10,204		1,082,951
Royal Caribbean Cruises Ltd. *		11,443		747,228
Scotts Miracle-Gro Co.		1,606		112,002
SiteOne Landscape Supply, Inc. *		981		134,269
Six Flags Entertainment Corp. *		2,349		62,742
Skechers USA, Inc. Class A *		5,971		283,742
Southwest Airlines Co.		30,769		1,001,223
Starbucks Corp.		38,563		4,015,565
Tapestry, Inc.		10,611		457,440
Target Corp.		10,988		1,819,942
Tempur Sealy International, Inc.		8,655		341,786
Thor Industries, Inc.		2,794		222,514
Toll Brothers, Inc.		2,821		169,345
Travel & Leisure Co.		1,427		55,938
Under Armour, Inc. Class A *		9,235		87,640
Under Armour, Inc. Class C *		9,903		84,473
United Airlines Holdings, Inc. *		16,945		749,816
Univar Solutions, Inc. *		8,352		292,571
Vail Resorts, Inc.		110		25,705
VF Corp.		18,161		416,069
Victoria’s Secret, Inc. *		948		32,374
Walgreens Boots Alliance, Inc.		38,120		1,318,190
Walmart, Inc.		74,690		11,013,041

	Shares		Value
Watsco, Inc.		810		$ 257,710
WESCO International, Inc.		1,161		179,421
Whirlpool Corp.		2,798		369,392
Williams-Sonoma, Inc.		843		102,559
Wyndham Hotels & Resorts, Inc.		1,561		105,914
Wynn Resorts Ltd. *		4,732		529,558
Yum! Brands, Inc.		13,186		1,741,607
				78,430,640
Consumer, Non-Cyclical - 24.2%
10X Genomics, Inc. Class A *		611		34,088
Abbott Laboratories		78,211		7,919,646
Acadia Healthcare Co., Inc. *		4,626		334,228
ADT, Inc.		13,022		94,149
Affirm Holdings, Inc. *		10,454		117,817
agilon health, Inc. *		1,043		24,771
Albertsons Cos., Inc. Class A		12,105		251,542
Align Technology, Inc. *		1,019		340,489
Altria Group, Inc.		94,204		4,203,382
Amedisys, Inc. *		1,860		136,803
Amgen, Inc.		4,443		1,074,095
Archer-Daniels-Midland Co.		28,793		2,293,650
Automatic Data Processing, Inc.		1,781		396,504
Avantor, Inc. *		2,004		42,365
Avery Dennison Corp.		1,628		291,298
Avis Budget Group, Inc. *		1,340		261,032
Azenta, Inc. *		3,427		152,913
Baxter International, Inc.		22,812		925,255
Becton Dickinson & Co.		14,919		3,693,049
Bio-Rad Laboratories, Inc. Class A *		1,111		532,191
Biogen, Inc. *		7,553		2,099,961
BioMarin Pharmaceutical, Inc. *		9,587		932,240
Block, Inc. *		28,234		1,938,264
Boston Scientific Corp. *		74,972		3,750,849
Bright Horizons Family Solutions, Inc. *		2,311		177,924
Bristol-Myers Squibb Co.		111,910		7,756,482
Brown-Forman Corp. Class A		867		56,520
Brown-Forman Corp. Class B		3,945		253,545
Bunge Ltd.		7,186		686,407
Campbell Soup Co.		10,070		553,649
Cardinal Health, Inc.		13,387		1,010,718
Catalent, Inc. *		6,330		415,944
Centene Corp. *		28,910		1,827,401
Certara, Inc. *		2,118		51,065
Charles River Laboratories International, Inc. *		228		46,015
Chemed Corp.		489		262,960
Church & Dwight Co., Inc.		6,901		610,117
Cigna Group		12,948		3,308,602
Cintas Corp.		332		153,610
Clarivate PLC *		25,602		240,403
Clorox Co.		1,041		164,728
Coca-Cola Co.		51,293		3,181,705
Colgate-Palmolive Co.		16,956		1,274,243
Conagra Brands, Inc.		24,456		918,567
Constellation Brands, Inc. Class A		8,005		1,808,249
Cooper Cos., Inc.		2,524		942,361
Corteva, Inc.		37,663		2,271,456
CoStar Group, Inc. *		18,372		1,264,912
Coty, Inc. Class A *		18,355		221,361
CVS Health Corp.		67,451		5,012,284
Danaher Corp.		31,702		7,990,172
Darling Ingredients, Inc. *		7,738		451,899
Dentsply Sirona, Inc.		11,246		441,743
Driven Brands Holdings, Inc. *		2,917		88,414
Dun & Bradstreet Holdings, Inc.		14,117		165,734
Elanco Animal Health, Inc. *		24,180		227,292
Elevance Health, Inc.		8,815		4,053,225
Eli Lilly & Co.		8,235		2,828,064
Encompass Health Corp.		5,087		275,207
Enhabit, Inc. *		2,266		31,520
Enovis Corp. *		2,526		135,116

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

241

PACIFIC SELECT FUND

PD LARGE-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Envista Holdings Corp. *		8,651		$353,653
Equifax, Inc.		3,158		640,569
Euronet Worldwide, Inc. *		763		85,380
Exact Sciences Corp. *		7,437		504,303
Exelixis, Inc. *		3,137		60,889
Flowers Foods, Inc.		9,736		266,864
FTI Consulting, Inc. *		1,045		206,231
GE HealthCare Technologies, Inc. *		18,284		1,499,837
General Mills, Inc.		31,001		2,649,345
Gilead Sciences, Inc.		65,961		5,472,784
Ginkgo Bioworks Holdings, Inc. *		30,305		40,306
Global Payments, Inc.		13,847		1,457,258
Globus Medical, Inc. Class A *		3,872		219,310
Grand Canyon Education, Inc. *		1,725		196,477
Grocery Outlet Holding Corp. *		3,952		111,684
GXO Logistics, Inc. *		4,964		250,483
H&R Block, Inc.		1,583		55,801
HCA Healthcare, Inc.		10,645		2,806,874
Henry Schein, Inc. *		7,023		572,655
Hershey Co.		1,055		268,403
Hertz Global Holdings, Inc. *		8,823		143,727
Hologic, Inc. *		12,635		1,019,644
Horizon Therapeutics PLC *		728		79,454
Hormel Foods Corp.		14,894		593,973
Humana, Inc.		1,933		938,394
ICU Medical, Inc. *		936		154,403
Illumina, Inc. *		8,291		1,928,072
Incyte Corp. *		1,296		93,662
Ingredion, Inc.		3,405		346,391
Integra LifeSciences Holdings Corp. *		3,774		216,665
Intuitive Surgical, Inc. *		1,447		369,665
Ionis Pharmaceuticals, Inc. *		389		13,903
J M Smucker Co.		5,537		871,358
Jazz Pharmaceuticals PLC *		3,198		467,963
Johnson & Johnson		138,293		21,435,415
Kellogg Co.		5,987		400,890
Keurig Dr Pepper, Inc.		45,356		1,600,160
Kimberly-Clark Corp.		7,119		955,512
Kraft Heinz Co.		37,051		1,432,762
Kroger Co.		34,662		1,711,263
Laboratory Corp. of America Holdings		4,601		1,055,561
ManpowerGroup, Inc.		2,797		230,836
Masimo Corp. *		638		117,737
McCormick & Co., Inc.		13,024		1,083,727
McKesson Corp.		5,810		2,068,650
Medtronic PLC		70,233		5,662,184
Merck & Co., Inc.		77,232		8,216,712
Mirati Therapeutics, Inc. *		2,627		97,672
Mister Car Wash, Inc. *		1,318		11,361
Moderna, Inc. *		16,403		2,519,173
Molina Healthcare, Inc. *		706		188,848
Molson Coors Beverage Co. Class B		9,093		469,926
Mondelez International, Inc. Class A		71,641		4,994,811
Monster Beverage Corp. *		3,128		168,943
Moody’s Corp.		479		146,584
Morningstar, Inc.		147		29,845
Natera, Inc. *		190		10,549
Oak Street Health, Inc. *		6,164		238,424
Organon & Co.		13,446		316,250
PayPal Holdings, Inc. *		41,442		3,147,105
PepsiCo, Inc.		11,302		2,060,355
Performance Food Group Co. *		5,459		329,396
PerkinElmer, Inc.		6,553		873,253
Perrigo Co. PLC		7,434		266,658
Pfizer, Inc.		296,994		12,117,355
Philip Morris International, Inc.		81,425		7,918,581
Pilgrim’s Pride Corp. *		1,067		24,733
Post Holdings, Inc. *		3,015		270,958
Premier, Inc. Class A		6,503		210,502
Procter & Gamble Co.		71,198		10,586,431
QIAGEN NV *		11,783		541,193
Quanta Services, Inc.		3,356		559,244

	Shares		Value
Quest Diagnostics, Inc.		5,747		$ 813,086
QuidelOrtho Corp. *		2,610		232,525
Regeneron Pharmaceuticals, Inc. *		4,651		3,821,587
Repligen Corp. *		898		151,187
Reynolds Consumer Products, Inc.		2,762		75,955
Ritchie Bros Auctioneers, Inc. (Canada)		556		31,297
Robert Half International, Inc.		741		59,702
Rollins, Inc.		632		23,719
Royalty Pharma PLC Class A		19,322		696,172
S&P Global, Inc.		16,907		5,829,026
Seaboard Corp.		11		41,470
Service Corp. International		7,770		534,421
Spectrum Brands Holdings, Inc.		2,270		150,319
STERIS PLC		5,185		991,787
Stryker Corp.		8,597		2,454,186
Syneos Health, Inc. *		4,805		171,154
Tandem Diabetes Care, Inc. *		125		5,076
Teladoc Health, Inc. *		7,906		204,765
Teleflex, Inc.		2,437		617,316
Tenet Healthcare Corp. *		5,521		328,058
Thermo Fisher Scientific, Inc.		18,052		10,404,631
TransUnion		2,825		175,545
Tyson Foods, Inc. Class A		14,926		885,410
U-Haul Holding Co.		4,609		242,120
Ultragenyx Pharmaceutical, Inc. *		546		21,895
United Rentals, Inc.		1,963		776,877
United Therapeutics Corp. *		2,317		518,915
UnitedHealth Group, Inc.		4,437		2,096,882
Universal Health Services, Inc. Class B		3,223		409,643
US Foods Holding Corp. *		10,483		387,242
Vertex Pharmaceuticals, Inc. *		757		238,508
Viatris, Inc.		62,952		605,598
WEX, Inc. *		516		94,887
WillScot Mobile Mini Holdings Corp. *		5,294		248,183
Zimmer Biomet Holdings, Inc.		11,123		1,437,092
				237,802,370
Energy - 8.0%
Antero Midstream Corp.		17,817		186,900
Antero Resources Corp. *		4,747		109,608
APA Corp.		16,643		600,147
Baker Hughes Co.		49,959		1,441,817
Cheniere Energy, Inc.		5,497		866,327
Chesapeake Energy Corp.		6,291		478,368
Chevron Corp.		101,628		16,581,624
ConocoPhillips		64,328		6,381,981
Coterra Energy, Inc.		35,317		866,679
Devon Energy Corp.		17,869		904,350
Diamondback Energy, Inc.		3,991		539,463
DTE Midstream LLC *		5,034		248,529
EOG Resources, Inc.		8,450		968,623
EQT Corp.		19,145		610,917
Exxon Mobil Corp.		216,546		23,746,434
First Solar, Inc. *		5,519		1,200,382
Halliburton Co.		25,537		807,991
Hess Corp.		3,175		420,180
HF Sinclair Corp.		7,007		338,999
Kinder Morgan, Inc.		104,964		1,837,920
Marathon Oil Corp.		32,890		788,044
Marathon Petroleum Corp.		23,812		3,210,572
NOV, Inc.		20,499		379,436
Occidental Petroleum Corp.		7,180		448,247
ONEOK, Inc.		20,951		1,331,227
Ovintiv, Inc.		3,444		124,260
PDC Energy, Inc.		2,031		130,350
Phillips 66		24,513		2,485,128
Pioneer Natural Resources Co.		5,560		1,135,574
Plug Power, Inc. *		14,417		168,967
Range Resources Corp.		4,137		109,506
Schlumberger NV		74,212		3,643,809
Southwestern Energy Co. *		53,662		268,310

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

242

PACIFIC SELECT FUND

PD LARGE-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Sunrun, Inc. *		11,750		$236,763
Valero Energy Corp.		19,586		2,734,206
Vitesse Energy, Inc.		2,785		52,999
Williams Cos., Inc.		64,269		1,919,072
				78,303,709
Financial - 22.2%
Affiliated Managers Group, Inc.		2,027		288,685
Aflac, Inc.		32,154		2,074,576
AGNC Investment Corp. REIT		29,635		298,721
Air Lease Corp.		5,661		222,874
Alexandria Real Estate Equities, Inc. REIT		8,926		1,121,016
Allstate Corp.		13,998		1,551,118
Ally Financial, Inc.		15,500		395,095
American Express Co.		29,293		4,831,880
American Financial Group, Inc.		3,495		424,642
American Homes 4 Rent Class A REIT		15,989		502,854
American International Group, Inc.		38,636		1,945,709
American Tower Corp. REIT		5,759		1,176,794
Americold Realty Trust, Inc. REIT		13,962		397,219
Ameriprise Financial, Inc.		1,978		606,257
Annaly Capital Management, Inc. REIT		24,280		463,991
Aon PLC Class A		662		208,722
Apartment Income REIT Corp. REIT		7,146		255,898
Apollo Global Management, Inc.		5,980		377,697
Arch Capital Group Ltd. *		12,421		843,013
Arthur J Gallagher & Co.		9,732		1,861,829
Assurant, Inc.		2,336		280,484
Assured Guaranty Ltd.		2,613		131,355
AvalonBay Communities, Inc. REIT		7,428		1,248,350
Axis Capital Holdings Ltd.		4,042		220,370
Bank of America Corp.		369,059		10,555,087
Bank of Hawaii Corp.		2,332		121,451
Bank of New York Mellon Corp.		38,817		1,763,844
Bank OZK		6,141		210,022
Berkshire Hathaway, Inc. Class B *		94,801		29,271,705
BlackRock, Inc.		7,793		5,214,452
BOK Financial Corp.		1,685		142,231
Boston Properties, Inc. REIT		8,142		440,645
Brighthouse Financial, Inc. *		3,729		164,486
Brixmor Property Group, Inc. REIT		15,877		341,673
Brown & Brown, Inc.		11,348		651,602
Camden Property Trust REIT		4,933		517,176
Capital One Financial Corp.		20,096		1,932,431
Carlyle Group, Inc.		10,754		334,019
Cboe Global Markets, Inc.		5,499		738,186
CBRE Group, Inc. Class A *		8,385		610,512
Charles Schwab Corp.		35,665		1,868,133
Chubb Ltd.		21,837		4,240,309
Cincinnati Financial Corp.		8,227		922,082
Citigroup, Inc.		101,715		4,769,416
Citizens Financial Group, Inc.		25,368		770,426
CME Group, Inc.		18,843		3,608,811
CNA Financial Corp.		1,353		52,808
Coinbase Global, Inc. Class A *		8,295		560,493
Columbia Banking System, Inc.		10,968		234,935
Comerica, Inc.		6,839		296,949
Commerce Bancshares, Inc.		5,905		344,557
Cousins Properties, Inc. REIT		7,980		170,612
Credit Acceptance Corp. *		345		150,434
CubeSmart REIT		11,611		536,660
Cullen/Frost Bankers, Inc.		3,037		319,918
Digital Realty Trust, Inc. REIT		15,181		1,492,444
Discover Financial Services		14,157		1,399,278
Douglas Emmett, Inc. REIT		9,714		119,774
East West Bancorp, Inc.		7,346		407,703
EastGroup Properties, Inc. REIT		2,137		353,289
EPR Properties REIT		4,046		154,153
Equinix, Inc. REIT		1,221		880,390
Equitable Holdings, Inc.		19,147		486,142
Equity LifeStyle Properties, Inc. REIT		3,597		241,467

	Shares		Value
Equity Residential REIT		19,720		$ 1,183,200
Erie Indemnity Co. Class A		411		95,212
Essex Property Trust, Inc. REIT		3,339		698,318
Evercore, Inc. Class A		1,715		197,877
Everest Re Group Ltd.		1,397		500,154
Extra Space Storage, Inc. REIT		6,065		988,170
F&G Annuities & Life, Inc.		881		15,964
Federal Realty Investment Trust REIT		4,169		412,022
Fidelity National Financial, Inc.		13,493		471,310
Fifth Third Bancorp		35,400		943,056
First American Financial Corp.		4,796		266,945
First Citizens BancShares, Inc. Class A		438		426,218
First Hawaiian, Inc.		7,045		145,338
First Horizon Corp.		27,488		488,737
First Industrial Realty Trust, Inc. REIT		6,849		364,367
First Republic Bank		9,626		134,668
FNB Corp.		18,590		215,644
Franklin Resources, Inc.		14,822		399,305
Gaming & Leisure Properties, Inc. REIT		12,683		660,277
Globe Life, Inc.		4,645		511,043
Goldman Sachs Group, Inc.		17,234		5,637,414
Hanover Insurance Group, Inc.		1,839		236,311
Hartford Financial Services Group, Inc.		16,916		1,178,876
Healthcare Realty Trust, Inc. REIT		19,695		380,704
Healthpeak Properties, Inc. REIT		28,389		623,706
Highwoods Properties, Inc. REIT		5,969		138,421
Host Hotels & Resorts, Inc. REIT		36,775		606,420
Howard Hughes Corp. *		1,869		149,520
Hudson Pacific Properties, Inc. REIT		6,675		44,389
Huntington Bancshares, Inc.		74,561		835,083
Interactive Brokers Group, Inc. Class A		4,823		398,187
Intercontinental Exchange, Inc.		28,992		3,023,576
Invesco Ltd.		19,396		318,094
Invitation Homes, Inc. REIT		31,706		990,178
Iron Mountain, Inc. REIT		3,881		205,344
Janus Henderson Group PLC		6,375		169,830
JBG SMITH Properties REIT		5,503		82,875
Jefferies Financial Group, Inc.		10,540		334,540
Jones Lang LaSalle, Inc. *		2,480		360,815
JPMorgan Chase & Co.		153,270		19,972,614
Kemper Corp.		3,299		180,323
KeyCorp		48,274		604,390
Kilroy Realty Corp. REIT		5,709		184,972
Kimco Realty Corp. REIT		31,377		612,793
KKR & Co., Inc.		30,288		1,590,726
Lamar Advertising Co. Class A REIT		622		62,132
Lazard Ltd. Class A		4,714		156,081
Life Storage, Inc. REIT		4,370		572,863
Lincoln National Corp.		7,517		168,907
Loews Corp.		10,101		586,060
M&T Bank Corp.		8,932		1,067,999
Macerich Co. REIT		1		11
Markel Corp. *		529		675,750
Marsh & McLennan Cos., Inc.		2,756		459,012
Medical Properties Trust, Inc. REIT		31,656		260,212
MetLife, Inc.		34,850		2,019,209
MGIC Investment Corp.		14,368		192,819
Mid-America Apartment Communities, Inc. REIT		5,965		900,954
Morgan Stanley		64,781		5,687,772
Nasdaq, Inc.		17,864		976,625
National Retail Properties, Inc. REIT		9,401		415,054
National Storage Affiliates Trust REIT		4,584		191,520
New York Community Bancorp, Inc.		34,768		314,303
Northern Trust Corp.		10,679		941,140
Old Republic International Corp.		14,503		362,140
Omega Healthcare Investors, Inc. REIT		12,207		334,594
OneMain Holdings, Inc.		6,387		236,830
PacWest Bancorp		5,223		50,820
Park Hotels & Resorts, Inc. REIT		10,959		135,453
Pinnacle Financial Partners, Inc.		4,194		231,341
PNC Financial Services Group, Inc.		21,157		2,689,055
Popular, Inc.		3,708		212,876

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

243

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Primerica, Inc.		1,937		$333,629
Principal Financial Group, Inc.		12,580		934,946
Progressive Corp.		3,947		564,658
Prologis, Inc. REIT		48,370		6,035,125
Prosperity Bancshares, Inc.		4,548		279,793
Prudential Financial, Inc.		19,135		1,583,230
Public Storage REIT		1,674		505,782
Raymond James Financial, Inc.		9,616		896,884
Rayonier, Inc. REIT		7,907		262,987
Realty Income Corp. REIT		33,061		2,093,422
Regency Centers Corp. REIT		8,902		544,624
Regions Financial Corp.		48,562		901,311
Reinsurance Group of America, Inc.		3,471		460,810
RenaissanceRe Holdings Ltd. (Bermuda)		1,060		212,360
Rexford Industrial Realty, Inc. REIT		10,156		605,805
Rithm Capital Corp. REIT		23,318		186,544
Rocket Cos., Inc. Class A *		3,602		32,634
SBA Communications Corp. REIT		4,278		1,116,857
SEI Investments Co.		5,342		307,432
Simon Property Group, Inc. REIT		8,729		977,386
SL Green Realty Corp. REIT		3,048		71,689
SLM Corp.		11,182		138,545
SoFi Technologies, Inc. *		41,866		254,127
Spirit Realty Capital, Inc. REIT		7,228		287,963
Starwood Property Trust, Inc. REIT		14,206		251,304
State Street Corp.		18,123		1,371,730
Stifel Financial Corp.		5,518		326,059
Sun Communities, Inc. REIT		6,526		919,383
Synchrony Financial		22,626		657,964
Synovus Financial Corp.		7,677		236,682
T Rowe Price Group, Inc.		11,431		1,290,560
TFS Financial Corp.		3,338		42,159
Tradeweb Markets, Inc. Class A		2,226		175,899
Travelers Cos., Inc.		12,329		2,113,314
Truist Financial Corp.		70,030		2,388,023
UDR, Inc. REIT		17,030		699,252
Unum Group		10,293		407,191
Upstart Holdings, Inc. *		2,747		43,650
US Bancorp		72,743		2,622,385
UWM Holdings Corp.		2,320		11,391
Ventas, Inc. REIT		20,743		899,209
VICI Properties, Inc. REIT		52,979		1,728,175
Virtu Financial, Inc. Class A		5,096		96,314
Vornado Realty Trust REIT		8,797		135,210
Voya Financial, Inc.		5,056		361,302
W R Berkley Corp.		10,695		665,871
Webster Financial Corp.		8,977		353,873
Wells Fargo & Co.		201,568		7,534,612
Welltower, Inc. REIT		24,983		1,791,031
Western Alliance Bancorp		1,868		66,389
Western Union Co.		12,864		143,434
WeWork, Inc. Class A *		6,014		4,675
Weyerhaeuser Co. REIT		39,178		1,180,433
White Mountains Insurance Group Ltd.		133		183,206
Willis Towers Watson PLC		5,593		1,299,701
Wintrust Financial Corp.		3,244		236,650
WP Carey, Inc. REIT		11,201		867,517
Zions Bancorp NA		8,084		241,954
				217,934,357
Industrial - 10.1%
3M Co.		28,965		3,044,511
Acuity Brands, Inc.		1,707		311,920
AECOM		6,423		541,587
AGCO Corp.		2,799		378,425
Agilent Technologies, Inc.		1,673		231,443
Allegion PLC		1,009		107,691
Amcor PLC		79,624		906,121
AMETEK, Inc.		12,177		1,769,683
Amphenol Corp. Class A		7,486		611,756
AO Smith Corp.		4,932		341,048

	Shares		Value
AptarGroup, Inc.		3,452		$ 407,992
Ardagh Group SA * W		291		1,944
Ardagh Metal Packaging SA		4,387		17,899
Armstrong World Industries, Inc.		1,232		87,768
Arrow Electronics, Inc. *		2,959		369,490
Avnet, Inc.		4,724		213,525
Axon Enterprise, Inc. *		836		187,975
AZEK Co., Inc. *		6,521		153,504
Ball Corp.		9,645		531,536
Berry Global Group, Inc.		3,120		183,768
Boeing Co. *		20,061		4,261,558
Builders FirstSource, Inc. *		7,554		670,644
BWX Technologies, Inc.		3,022		190,507
Carlisle Cos., Inc.		374		84,550
Carrier Global Corp.		44,060		2,015,745
Caterpillar, Inc.		3,491		798,881
CH Robinson Worldwide, Inc.		4,407		437,924
Clean Harbors, Inc. *		2,648		377,499
Cognex Corp.		569		28,194
Coherent Corp. *		4,940		188,115
Crane Co.		2,469		280,232
Crown Holdings, Inc.		650		53,762
CSX Corp.		82,650		2,474,541
Curtiss-Wright Corp.		1,989		350,581
Donaldson Co., Inc.		5,318		347,478
Dover Corp.		7,278		1,105,819
Eagle Materials, Inc.		308		45,199
Eaton Corp. PLC		20,971		3,593,171
Emerson Electric Co.		20,455		1,782,449
Esab Corp.		3,119		184,239
Expeditors International of Washington, Inc.		5,695		627,133
FedEx Corp.		12,282		2,806,314
Flowserve Corp.		7,016		238,544
Fortive Corp.		18,830		1,283,641
Fortune Brands Innovations, Inc.		4,447		261,172
Garmin Ltd.		8,009		808,268
Gates Industrial Corp. PLC *		5,996		83,284
General Dynamics Corp.		12,780		2,916,524
General Electric Co.		53,758		5,139,265
Graco, Inc.		2,848		207,933
Graphic Packaging Holding Co.		3,241		82,613
Hayward Holdings, Inc. *		4,006		46,950
HEICO Corp.		131		22,406
HEICO Corp. Class A		230		31,257
Hexcel Corp.		4,353		297,092
Honeywell International, Inc.		25,002		4,778,382
Howmet Aerospace, Inc.		17,390		736,814
Hubbell, Inc.		2,782		676,888
Huntington Ingalls Industries, Inc.		1,595		330,197
IDEX Corp.		3,244		749,461
Illinois Tool Works, Inc.		1,605		390,737
Ingersoll Rand, Inc.		21,631		1,258,492
ITT, Inc.		4,336		374,197
Jabil, Inc.		1,402		123,600
Jacobs Solutions, Inc.		6,541		768,633
JB Hunt Transport Services, Inc.		458		80,361
Johnson Controls International PLC		36,277		2,184,601
Keysight Technologies, Inc. *		621		100,279
Kirby Corp. *		3,101		216,140
Knight-Swift Transportation Holdings, Inc.		8,104		458,524
L3Harris Technologies, Inc.		10,017		1,965,736
Landstar System, Inc.		277		49,655
Lennox International, Inc.		1,659		416,874
Littelfuse, Inc.		1,287		345,032
Louisiana-Pacific Corp.		3,503		189,898
Martin Marietta Materials, Inc.		2,947		1,046,362
Masco Corp.		11,095		551,643
MasTec, Inc. *		3,247		306,647
Masterbrand, Inc. *		3,958		31,822
MDU Resources Group, Inc.		10,492		319,796
Mercury Systems, Inc. *		2,521		128,874
Middleby Corp. *		2,586		379,134

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

244

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PD LARGE-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Mohawk Industries, Inc. *		2,767		$277,309
MSA Safety, Inc.		1,166		155,661
National Instruments Corp.		5,910		309,743
Nordson Corp.		2,276		505,864
Norfolk Southern Corp.		11,954		2,534,248
Northrop Grumman Corp.		6,687		3,087,522
nVent Electric PLC		8,581		368,468
Oshkosh Corp.		3,411		283,727
Otis Worldwide Corp.		19,366		1,634,490
Owens Corning		4,845		464,151
Packaging Corp. of America		4,741		658,193
Parker-Hannifin Corp.		5,232		1,758,528
Pentair PLC		8,547		472,393
Raytheon Technologies Corp.		77,237		7,563,819
Regal Rexnord Corp.		3,382		475,949
Republic Services, Inc.		10,241		1,384,788
Rockwell Automation, Inc.		1,940		569,293
RXO, Inc. *		5,779		113,500
Ryder System, Inc.		2,671		238,360
Schneider National, Inc. Class B		2,847		76,157
Sensata Technologies Holding PLC		7,854		392,857
Silgan Holdings, Inc.		4,415		236,953
Snap-on, Inc.		2,731		674,257
Sonoco Products Co.		5,054		308,294
Spirit AeroSystems Holdings, Inc. Class A		246		8,494
Stanley Black & Decker, Inc.		7,671		618,129
Stericycle, Inc. *		4,762		207,671
TD SYNNEX Corp.		2,425		234,716
Teledyne Technologies, Inc. *		2,406		1,076,348
Tetra Tech, Inc.		1,649		242,255
Textron, Inc.		10,833		765,135
Timken Co.		3,242		264,936
TopBuild Corp. *		301		62,650
Trane Technologies PLC		5,003		920,452
TransDigm Group, Inc.		1,676		1,235,296
Trimble, Inc.*		12,790		670,452
United Parcel Service, Inc. Class B		4,277		829,695
Valmont Industries, Inc.		940		300,123
Vertiv Holdings Co.		13,890		198,766
Vontier Corp.		2,807		76,743
Vulcan Materials Co.		3,522		604,234
Waste Management, Inc.		1,389		226,643
Westinghouse Air Brake Technologies Corp.		9,405		950,469
Westrock Co.		13,166		401,168
Woodward, Inc.		3,076		299,510
XPO, Inc. *		5,210		166,199
Xylem, Inc.		8,003		837,914
				99,224,371
Technology - 6.7%
Activision Blizzard, Inc.		40,806		3,492,586
Advanced Micro Devices, Inc. *		18,090		1,773,001
Akamai Technologies, Inc. *		8,047		630,080
Amdocs Ltd.		6,172		592,697
Analog Devices, Inc.		21,226		4,186,192
ANSYS, Inc. *		2,138		711,526
BILL Holdings, Inc. *		5,137		416,816
Black Knight, Inc. *		7,282		419,152
Broadridge Financial Solutions, Inc.		557		81,639
CACI International, Inc. Class A *		1,203		356,425
CCC Intelligent Solutions Holdings, Inc. *		4,789		42,957
Ceridian HCM Holding, Inc. *		5,758		421,601
Cirrus Logic, Inc. *		2,846		311,295
Cognizant Technology Solutions Corp. Class A		27,146		1,654,006
Concentrix Corp.		2,306		280,294
Definitive Healthcare Corp. *		1,177		12,158
Dell Technologies, Inc. Class C		10,584		425,583
DoubleVerify Holdings, Inc. *		1,163		35,064
Doximity, Inc. Class A *		3,268		105,818
Dropbox, Inc. Class A *		1,160		25,079
DXC Technology Co. *		11,949		305,416

	Shares		Value
Electronic Arts, Inc.		13,566		$ 1,634,025
Fidelity National Information Services, Inc.		31,350		1,703,245
Fiserv, Inc. *		28,117		3,178,065
Genpact Ltd.		4,573		211,364
GLOBALFOUNDRIES, Inc. *		2,617		188,895
Guidewire Software, Inc. *		4,257		349,287
Hewlett Packard Enterprise Co.		66,784		1,063,869
HP, Inc.		28,607		839,615
Informatica, Inc. Class A *		1,890		30,996
Intel Corp.		217,556		7,107,555
International Business Machines Corp.		15,761		2,066,109
IPG Photonics Corp. *		1,735		213,943
Jamf Holding Corp. *		284		5,515
KBR, Inc.		2,800		154,140
Kyndryl Holdings, Inc. *		10,616		156,692
Leidos Holdings, Inc.		7,076		651,417
Lumentum Holdings, Inc. *		3,818		206,210
Manhattan Associates, Inc. *		1,306		202,234
Marvell Technology, Inc.		44,790		1,939,407
Microchip Technology, Inc.		4,038		338,304
Micron Technology, Inc.		46,279		2,792,475
MKS Instruments, Inc.		2,976		263,733
MSCI, Inc.		997		558,011
nCino, Inc. *		3,329		82,493
NCR Corp. *		6,851		161,615
Nutanix, Inc. Class A *		5,778		150,170
ON Semiconductor Corp. *		8,476		697,744
Oracle Corp.		25,206		2,342,142
Paycor HCM, Inc. *		3,376		89,532
Procore Technologies, Inc. *		1,137		71,210
Qorvo, Inc. *		5,175		525,625
Roper Technologies, Inc.		5,553		2,447,152
Salesforce, Inc. *		39,749		7,941,055
Science Applications International Corp.		2,889		310,452
SentinelOne, Inc. Class A *		2,356		38,544
Skyworks Solutions, Inc.		8,253		973,689
Snowflake, Inc. Class A *		1,127		173,885
SS&C Technologies Holdings, Inc.		11,462		647,259
Take-Two Interactive Software, Inc. *		1,504		179,427
Teradata Corp. *		2,209		88,979
Teradyne, Inc.		689		74,074
Texas Instruments, Inc.		15,023		2,794,428
Twilio, Inc. Class A *		5,628		374,994
Tyler Technologies, Inc. *		256		90,788
UiPath, Inc. Class A *		17,780		312,217
Unity Software, Inc. *		4,121		133,685
VMware, Inc. Class A *		5,695		711,021
Western Digital Corp. *		16,513		622,045
Wolfspeed, Inc. *		6,396		415,420
Zebra Technologies Corp. Class A *		1,582		503,076
Zoom Video Communications, Inc. Class A *		6,433		475,013
				65,562,225
Utilities - 5.5%
AES Corp.		28,422		684,402
Alliant Energy Corp.		13,023		695,428
Ameren Corp.		13,698		1,183,370
American Electric Power Co., Inc.		27,035		2,459,915
American Water Works Co., Inc.		10,221		1,497,274
Atmos Energy Corp.		7,624		856,633
Avangrid, Inc.		3,971		158,363
Brookfield Renewable Corp. Class A		6,805		237,835
CenterPoint Energy, Inc.		32,738		964,462
CMS Energy Corp.		15,043		923,339
Consolidated Edison, Inc.		18,730		1,791,899
Constellation Energy Corp.		17,328		1,360,248
Dominion Energy, Inc.		43,773		2,447,348
DTE Energy Co.		10,024		1,098,029
Duke Energy Corp.		40,456		3,902,790
Edison International		19,943		1,407,776
Entergy Corp.		10,548		1,136,442

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

245

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PD LARGE-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Essential Utilities, Inc.		12,021		$524,717
Evergy, Inc.		11,549		705,875
Eversource Energy		18,271		1,429,888
Exelon Corp.		52,273		2,189,716
FirstEnergy Corp.		28,910		1,158,135
Hawaiian Electric Industries, Inc.		6,116		234,854
IDACORP, Inc.		2,614		283,175
National Fuel Gas Co.		4,435		256,077
NextEra Energy, Inc.		104,356		8,043,761
NiSource, Inc.		21,094		589,788
NRG Energy, Inc.		10,920		374,447
OGE Energy Corp.		10,373		390,647
PG&E Corp. *		87,261		1,411,010
Pinnacle West Capital Corp.		5,864		464,663
PPL Corp.		38,292		1,064,135
Public Service Enterprise Group, Inc.		26,346		1,645,308
Sempra Energy		16,545		2,500,942
Southern Co.		57,135		3,975,453
UGI Corp.		10,875		378,015
Vistra Corp.		8,345		200,280
WEC Energy Group, Inc.		16,691		1,582,140
Xcel Energy, Inc.		28,752		1,939,035
				54,147,614
Total Common Stocks (Cost $858,647,008)				965,516,474
EXCHANGE-TRADED FUND - 1.0%
iShares Russell 1000 Value		66,241		10,085,855
Total Exchange-Traded Fund (Cost $9,940,954)				10,085,855
	Principal Amount
SHORT-TERM INVESTMENT - 0.6%
Repurchase Agreement - 0.6%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $5,620,872; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $5,731,240)		$5,618,788		5,618,788
Total Short-Term Investment (Cost $5,618,788)				5,618,788
TOTAL INVESTMENTS - 99.9% (Cost $874,206,750)				981,221,117
DERIVATIVES - 0.0%				318,203
OTHER ASSETS & LIABILITIES, NET - 0.1%				554,970
NET ASSETS - 100.0%				$982,094,290

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

246

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PD LARGE-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) An investment with a value of $1,944 or less than 0.1% of the Fund’s net assets was valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or to the Board of Trustees.

(b) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month		Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
S&P 500 E-Mini Index		06/23		21		$4,142,931		$4,344,638		$201,707
S&P MID 400 E-Mini Index		06/23		9		2,160,234		2,276,730		116,496
Total Futures Contracts										$318,203

(c) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Basic Materials		$34,876,648		$34,876,648		$-		$-
	Communications		99,234,540		99,234,540		-		-
	Consumer, Cyclical		78,430,640		78,430,640		-		-
	Consumer, Non-Cyclical		237,802,370		237,802,370		-		-
	Energy		78,303,709		78,303,709		-		-
	Financial		217,934,357		217,934,357		-		-
	Industrial		99,224,371		99,222,427		1,944		-
	Technology		65,562,225		65,562,225		-		-
	Utilities		54,147,614		54,147,614		-		-
	Total Common Stocks		965,516,474		965,514,530		1,944		-
	Exchange-Traded Fund		10,085,855		10,085,855		-		-
	Short-Term Investment		5,618,788		-		5,618,788		-
	Derivatives:
	Equity Contracts
	Futures		318,203		318,203		-		-
	Total		$981,539,320		$975,918,588		$5,620,732		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

247

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Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
COMMON STOCKS - 98.3%
Basic Materials - 3.9%
Albemarle Corp.		3,906		$863,382
Alcoa Corp.		5,989		254,892
Ashland, Inc.		1,746		179,332
Axalta Coating Systems Ltd. *		7,187		217,694
Celanese Corp.		3,615		393,637
CF Industries Holdings, Inc.		6,533		473,577
Chemours Co.		5,114		153,113
Cleveland-Cliffs, Inc. *		17,162		314,580
DuPont de Nemours, Inc.		15,308		1,098,655
Eastman Chemical Co.		4,009		338,119
Element Solutions, Inc.		7,338		141,697
FMC Corp.		4,203		513,312
Huntsman Corp.		6,265		171,410
International Flavors & Fragrances, Inc.		8,505		782,120
International Paper Co.		11,851		427,347
LyondellBasell Industries NV Class A		8,576		805,201
Mosaic Co.		11,348		520,646
MP Materials Corp. *		2,953		83,245
NewMarket Corp.		186		67,886
Nucor Corp.		8,557		1,321,800
Olin Corp.		4,148		230,214
PPG Industries, Inc.		7,864		1,050,473
Reliance Steel & Aluminum Co.		1,948		500,130
Royal Gold, Inc.		2,206		286,140
RPM International, Inc.		4,263		371,904
SSR Mining, Inc. (Canada)		6,705		101,380
Steel Dynamics, Inc.		5,555		628,048
United States Steel Corp.		7,691		200,735
Valvoline, Inc.		5,590		195,315
Westlake Corp.		1,074		124,563
				12,810,547
Communications - 6.1%
Altice USA, Inc. Class A *		6,382		21,826
Arista Networks, Inc. *		8,212		1,378,466
Cable One, Inc.		188		131,976
CDW Corp.		4,512		879,344
Ciena Corp. *		4,982		261,655
Corning, Inc.		24,553		866,230
DISH Network Corp. Class A *		8,156		76,095
DoorDash, Inc. Class A *		8,339		530,027
eBay, Inc.		18,120		803,984
Etsy, Inc. *		4,172		464,469
Expedia Group, Inc. *		4,921		477,485
F5, Inc. *		2,004		291,963
FactSet Research Systems, Inc.		1,266		525,504
Fox Corp. Class A		9,776		332,873
Fox Corp. Class B		4,541		142,179
Frontier Communications Parent, Inc. *		7,972		181,522
Gen Digital, Inc.		18,428		316,224
GoDaddy, Inc. Class A *		5,221		405,776
IAC, Inc. *		2,502		129,103
Interpublic Group of Cos., Inc.		12,947		482,146
Juniper Networks, Inc.		10,696		368,156
Liberty Broadband Corp. Class A *		567		46,562
Liberty Broadband Corp. Class C *		3,996		326,473
Liberty Media Corp. - Liberty Formula One Class A *		669		45,157
Liberty Media Corp. - Liberty Formula One Class C *		6,695		500,987
Liberty Media Corp. - Liberty SiriusXM Class A *		2,443		68,624
Liberty Media Corp. - Liberty SiriusXM Class C *		5,038		141,014
Lumen Technologies, Inc.		33,443		88,624
Lyft, Inc. Class A *		10,611		98,364
Match Group, Inc. *		9,323		357,910
Motorola Solutions, Inc.		5,495		1,572,284

	Shares		Value
New York Times Co. Class A		5,286		$205,520
News Corp. Class A		12,365		213,544
News Corp. Class B		3,852		67,140
Nexstar Media Group, Inc.		1,180		203,739
Okta, Inc. *		5,047		435,253
Omnicom Group, Inc.		6,690		631,135
Opendoor Technologies, Inc. *		14,019		24,673
Paramount Global Class A		512		13,230
Paramount Global Class B		19,243		429,311
Pinterest, Inc. Class A *		19,820		540,491
Robinhood Markets, Inc. Class A *		19,594		190,258
Roku, Inc. *		4,107		270,323
Sirius XM Holdings, Inc.		22,844		90,691
Spotify Technology SA *		4,671		624,139
Trade Desk, Inc. Class A *		14,644		891,966
TripAdvisor, Inc. *		3,324		66,015
Ubiquiti, Inc.		135		36,678
VeriSign, Inc. *		3,096		654,278
Viasat, Inc. *		2,364		79,998
Warner Bros Discovery, Inc. *		78,729		1,188,808
Wayfair, Inc. Class A *		2,567		88,151
Wix.com Ltd. * (Israel)		1,897		189,321
World Wrestling Entertainment, Inc. Class A		1,401		127,855
Zillow Group, Inc. Class A *		1,834		80,146
Zillow Group, Inc. Class C *		5,138		228,487
				19,884,152
Consumer, Cyclical - 14.1%
Advance Auto Parts, Inc.		2,005		243,828
Alaska Air Group, Inc. *		4,306		180,680
Allison Transmission Holdings, Inc.		2,998		135,630
AMC Entertainment Holdings, Inc. Class A *		16,823		84,283
American Airlines Group, Inc. *		21,680		319,780
Aptiv PLC *		9,022		1,012,178
Aramark		7,927		283,787
AutoNation, Inc. *		1,097		147,393
AutoZone, Inc. *		625		1,536,344
Bath & Body Works, Inc.		7,714		282,178
Best Buy Co., Inc.		6,597		516,347
BJ’s Wholesale Club Holdings, Inc. *		4,484		341,098
BorgWarner, Inc.		7,798		382,960
Boyd Gaming Corp.		2,638		169,149
Brunswick Corp.		2,473		202,786
Burlington Stores, Inc. *		2,167		437,951
Caesars Entertainment, Inc. *		6,891		336,350
Capri Holdings Ltd. *		4,206		197,682
CarMax, Inc. *		5,303		340,877
Carnival Corp. *		32,829		333,214
Carter’s, Inc.		1,214		87,311
Carvana Co. *		3,088		30,232
Casey’s General Stores, Inc.		1,252		271,008
Chipotle Mexican Grill, Inc. *		917		1,566,502
Choice Hotels International, Inc.		1,047		122,698
Churchill Downs, Inc.		1,199		308,203
Columbia Sportswear Co.		1,172		105,761
Copa Holdings SA Class A * (Panama)		924		85,331
Copart, Inc. *		14,225		1,069,862
Core & Main, Inc. Class A *		2,387		55,140
Cummins, Inc.		4,704		1,123,692
Darden Restaurants, Inc.		4,085		633,829
Deckers Outdoor Corp. *		880		395,604
Delta Air Lines, Inc. *		21,361		745,926
Dick’s Sporting Goods, Inc.		1,794		254,551
Dolby Laboratories, Inc. Class A		2,040		174,257
Dollar Tree, Inc. *		6,967		1,000,113
Domino’s Pizza, Inc.		1,178		388,587
DR Horton, Inc.		10,530		1,028,676
DraftKings, Inc. Class A *		12,033		232,959
Fastenal Co.		19,211		1,036,241
Five Below, Inc. *		1,825		375,895
Floor & Decor Holdings, Inc. Class A *		3,460		339,841

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

248

PACIFIC SELECT FUND

PD MID-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Freshpet, Inc. *		1,480		$97,961
GameStop Corp. Class A *		9,291		213,879
Gap, Inc.		6,332		63,573
Gentex Corp.		7,993		224,044
Genuine Parts Co.		4,633		775,147
Hanesbrands, Inc.		11,344		59,669
Harley-Davidson, Inc.		4,625		175,611
Hasbro, Inc.		4,468		239,887
Hilton Worldwide Holdings, Inc.		8,759		1,233,880
Hyatt Hotels Corp. Class A *		1,628		181,994
JetBlue Airways Corp. *		10,440		76,003
Kohl’s Corp.		3,579		84,250
Las Vegas Sands Corp. *		11,037		634,076
Lear Corp.		1,984		276,748
Leggett & Platt, Inc.		4,331		138,072
Lennar Corp. Class A		8,368		879,561
Lennar Corp. Class B		482		43,047
Leslie’s, Inc. *		5,707		62,834
Lithia Motors, Inc.		883		202,145
Live Nation Entertainment, Inc. *		5,215		365,050
LKQ Corp.		8,341		473,435
Lucid Group, Inc. *		18,906		152,004
Lululemon Athletica, Inc. *		3,727		1,357,336
Macy’s, Inc.		9,257		161,905
Madison Square Garden Sports Corp.		606		118,079
Marriott Vacations Worldwide Corp.		1,286		173,430
Mattel, Inc. *		11,442		210,647
MGM Resorts International		10,565		469,297
MSC Industrial Direct Co., Inc. Class A		1,504		126,336
Newell Brands, Inc.		12,288		152,863
Nordstrom, Inc.		3,642		59,255
Norwegian Cruise Line Holdings Ltd. *		14,342		192,900
NVR, Inc. *		97		540,502
O’Reilly Automotive, Inc. *		2,070		1,757,389
Ollie’s Bargain Outlet Holdings, Inc. *		2,031		117,676
PACCAR, Inc.		17,080		1,250,256
Peloton Interactive, Inc. Class A *		10,032		113,763
Penn Entertainment, Inc. *		5,028		149,130
Penske Automotive Group, Inc.		839		118,979
Petco Health & Wellness Co., Inc. *		2,619		23,571
Planet Fitness, Inc. Class A *		2,717		211,029
Polaris, Inc.		1,792		198,249
Pool Corp.		1,269		434,556
PulteGroup, Inc.		7,563		440,772
PVH Corp.		2,178		194,191
QuantumScape Corp. *		8,391		68,638
Ralph Lauren Corp.		1,320		154,004
RH *		592		144,182
Rivian Automotive, Inc. Class A *		17,622		272,789
Ross Stores, Inc.		11,378		1,207,547
Royal Caribbean Cruises Ltd. *		7,350		479,955
Scotts Miracle-Gro Co.		1,314		91,638
SiteOne Landscape Supply, Inc. *		1,448		198,188
Six Flags Entertainment Corp. *		2,419		64,612
Skechers USA, Inc. Class A *		4,355		206,950
Southwest Airlines Co.		19,762		643,056
Tapestry, Inc.		7,911		341,043
Tempur Sealy International, Inc.		5,413		213,759
Thor Industries, Inc.		1,680		133,795
Toll Brothers, Inc.		3,747		224,932
Tractor Supply Co.		3,685		866,122
Travel & Leisure Co.		2,596		101,763
Ulta Beauty, Inc. *		1,682		917,817
Under Armour, Inc. Class A *		6,133		58,202
Under Armour, Inc. Class C *		6,180		52,715
United Airlines Holdings, Inc. *		10,884		481,617
Univar Solutions, Inc. *		5,234		183,347
Vail Resorts, Inc.		1,351		315,702
VF Corp.		11,809		270,544
Victoria’s Secret, Inc. *		2,640		90,156
Watsco, Inc.		1,103		350,931
Wendy’s Co.		5,551		120,901

	Shares		Value
WESCO International, Inc.		1,517		$234,437
Whirlpool Corp.		1,808		238,692
Williams-Sonoma, Inc.		2,236		272,032
WW Grainger, Inc.		1,504		1,035,970
Wyndham Hotels & Resorts, Inc.		2,825		191,676
Wynn Resorts Ltd. *		3,479		389,335
YETI Holdings, Inc. *		2,807		112,280
Yum! Brands, Inc.		9,411		1,243,005
				46,114,027
Consumer, Non-Cyclical - 17.9%
10X Genomics, Inc. Class A *		3,186		177,747
Acadia Healthcare Co., Inc. *		2,899		209,453
ADT, Inc.		6,803		49,186
Affirm Holdings, Inc. *		7,200		81,144
agilon health, Inc. *		6,497		154,304
Albertsons Cos., Inc. Class A		8,055		167,383
Align Technology, Inc. *		2,618		874,779
Alnylam Pharmaceuticals, Inc. *		4,102		821,713
Amedisys, Inc. *		1,041		76,566
AmerisourceBergen Corp.		5,441		871,159
Avantor, Inc. *		20,349		430,178
Avery Dennison Corp.		2,717		486,153
Avis Budget Group, Inc. *		884		172,203
Azenta, Inc. *		2,224		99,235
Bio-Rad Laboratories, Inc. Class A *		716		342,978
Bio-Techne Corp.		5,192		385,194
Biogen, Inc. *		4,784		1,330,096
BioMarin Pharmaceutical, Inc. *		6,158		598,804
Booz Allen Hamilton Holding Corp.		4,380		405,982
Boston Beer Co., Inc. Class A *		307		100,911
Bright Horizons Family Solutions, Inc. *		1,990		153,210
Brown-Forman Corp. Class A		1,481		96,546
Brown-Forman Corp. Class B		6,124		393,589
Bruker Corp.		3,617		285,164
Bunge Ltd.		4,616		440,920
Campbell Soup Co.		6,483		356,435
Cardinal Health, Inc.		8,598		649,149
Catalent, Inc. *		5,971		392,354
Certara, Inc. *		3,783		91,208
Charles River Laboratories International, Inc. *		1,689		340,874
Chemed Corp.		493		265,111
Church & Dwight Co., Inc.		8,103		716,386
Cintas Corp.		2,889		1,336,683
Clarivate PLC *		16,302		153,076
Clorox Co.		4,112		650,683
Conagra Brands, Inc.		15,707		589,955
Cooper Cos., Inc.		1,621		605,217
Corteva, Inc.		23,877		1,440,022
CoStar Group, Inc. *		13,460		926,721
Coty, Inc. Class A *		11,438		137,942
Darling Ingredients, Inc. *		5,382		314,309
DaVita, Inc. *		1,810		146,809
Dentsply Sirona, Inc.		7,224		283,759
Dexcom, Inc. *		12,863		1,494,423
Driven Brands Holdings, Inc. *		2,024		61,347
Dun & Bradstreet Holdings, Inc.		8,184		96,080
Elanco Animal Health, Inc. *		14,495		136,253
Encompass Health Corp.		3,366		182,101
Enhabit, Inc. *		1,444		20,086
Enovis Corp. *		1,648		88,152
Envista Holdings Corp. *		5,298		216,582
Equifax, Inc.		4,056		822,719
Euronet Worldwide, Inc. *		1,625		181,838
Exact Sciences Corp. *		5,836		395,739
Exelixis, Inc. *		10,411		202,078
FleetCor Technologies, Inc. *		2,396		505,197
Flowers Foods, Inc.		6,445		176,657
FTI Consulting, Inc. *		1,144		225,768
Gartner, Inc. *		2,561		834,297
Ginkgo Bioworks Holdings, Inc. *		27,567		36,664

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

249

PACIFIC SELECT FUND

PD MID-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Global Payments, Inc.		8,714		$917,061
Globus Medical, Inc. Class A *		2,512		142,280
Grand Canyon Education, Inc. *		998		113,672
Grocery Outlet Holding Corp. *		2,871		81,134
Guardant Health, Inc. *		3,172		74,352
GXO Logistics, Inc. *		3,647		184,028
H&R Block, Inc.		5,219		183,970
Henry Schein, Inc. *		4,520		368,561
Hershey Co.		4,871		1,239,231
Hertz Global Holdings, Inc. *		5,933		96,649
Hologic, Inc. *		8,115		654,880
Horizon Therapeutics PLC *		7,387		806,217
Hormel Foods Corp.		9,573		381,771
ICU Medical, Inc. *		656		108,214
IDEXX Laboratories, Inc. *		2,743		1,371,719
Incyte Corp. *		6,089		440,052
Ingredion, Inc.		2,228		226,654
Insulet Corp. *		2,297		732,651
Integra LifeSciences Holdings Corp. *		2,357		135,315
Ionis Pharmaceuticals, Inc. *		4,858		173,625
IQVIA Holdings, Inc. *		6,192		1,231,527
J M Smucker Co.		3,440		541,353
Jazz Pharmaceuticals PLC *		2,072		303,196
Kellogg Co.		8,508		569,696
Kroger Co.		21,884		1,080,413
Laboratory Corp. of America Holdings		2,955		677,936
Lamb Weston Holdings, Inc.		4,809		502,637
ManpowerGroup, Inc.		1,636		135,019
Maravai LifeSciences Holdings, Inc. Class A *		3,574		50,072
MarketAxess Holdings, Inc.		1,239		484,808
Masimo Corp. *		1,598		294,895
McCormick & Co., Inc.		8,365		696,052
Mirati Therapeutics, Inc. *		1,453		54,023
Mister Car Wash, Inc. *		3,163		27,265
Molina Healthcare, Inc. *		1,911		511,173
Molson Coors Beverage Co. Class B		5,882		303,982
Morningstar, Inc.		859		174,403
Natera, Inc. *		3,179		176,498
Neurocrine Biosciences, Inc. *		3,216		325,524
Novavax, Inc. *		3,335		23,112
Novocure Ltd. *		3,363		202,251
Oak Street Health, Inc. *		3,792		146,675
Olaplex Holdings, Inc. *		5,197		22,191
Organon & Co.		8,695		204,506
Paylocity Holding Corp. *		1,358		269,943
Penumbra, Inc. *		1,196		333,313
Performance Food Group Co. *		5,118		308,820
PerkinElmer, Inc.		4,209		560,891
Perrigo Co. PLC		4,635		166,257
Pilgrim’s Pride Corp. *		1,515		35,118
Post Holdings, Inc. *		1,863		167,428
Premier, Inc. Class A		3,832		124,042
QIAGEN NV *		7,583		348,287
Quanta Services, Inc.		4,748		791,207
Quest Diagnostics, Inc.		3,692		522,344
QuidelOrtho Corp. *		1,587		141,386
Repligen Corp. *		1,854		312,139
ResMed, Inc.		4,822		1,055,970
Reynolds Consumer Products, Inc.		1,768		48,620
Ritchie Bros Auctioneers, Inc. (Canada)		2,288		128,792
Robert Half International, Inc.		3,565		287,232
Rollins, Inc.		7,796		292,584
Royalty Pharma PLC Class A		12,410		447,132
Sarepta Therapeutics, Inc. *		2,814		387,854
Seaboard Corp.		8		30,160
Seagen, Inc. *		4,536		918,404
Service Corp. International		5,010		344,588
Shift4 Payments, Inc. Class A *		1,643		124,539
Sotera Health Co. *		3,217		57,616
Spectrum Brands Holdings, Inc.		1,297		85,887
STERIS PLC		3,330		636,962
Syneos Health, Inc. *		3,335		118,793

	Shares		Value
Tandem Diabetes Care, Inc. *		2,077		$84,347
Teladoc Health, Inc. *		5,227		135,379
Teleflex, Inc.		1,566		396,683
Tenet Healthcare Corp. *		3,460		205,593
Toast, Inc. Class A *		8,299		147,307
TransUnion		6,421		399,001
Tyson Foods, Inc. Class A		9,284		550,727
U-Haul Holding Co.		3,014		159,225
Ultragenyx Pharmaceutical, Inc. *		2,174		87,177
United Rentals, Inc.		2,330		922,121
United Therapeutics Corp. *		1,494		334,596
Universal Health Services, Inc. Class B		2,097		266,529
US Foods Holding Corp. *		6,831		252,337
Verisk Analytics, Inc.		5,184		994,602
Viatris, Inc.		40,433		388,965
Waters Corp. *		1,971		610,281
West Pharmaceutical Services, Inc.		2,471		856,127
WEX, Inc. *		1,417		260,572
WillScot Mobile Mini Holdings Corp. *		6,821		319,768
Zimmer Biomet Holdings, Inc.		7,001		904,529
				58,770,688
Energy - 5.2%
Antero Midstream Corp.		10,944		114,802
Antero Resources Corp. *		9,231		213,144
APA Corp.		10,718		386,491
Baker Hughes Co.		31,430		907,070
Cheniere Energy, Inc.		8,307		1,309,183
Chesapeake Energy Corp.		4,069		309,407
Coterra Energy, Inc.		26,188		642,653
Devon Energy Corp.		21,708		1,098,642
Diamondback Energy, Inc.		5,975		807,641
DTE Midstream LLC *		3,352		165,488
Enphase Energy, Inc. *		4,368		918,503
Enviva, Inc.		984		28,418
EQT Corp.		12,309		392,780
First Solar, Inc. *		3,544		770,820
Halliburton Co.		29,985		948,725
Hess Corp.		9,398		1,243,731
HF Sinclair Corp.		4,585		221,822
Marathon Oil Corp.		21,125		506,155
New Fortress Energy, Inc.		1,701		50,060
NOV, Inc.		13,266		245,554
ONEOK, Inc.		14,835		942,616
Ovintiv, Inc.		8,258		297,949
PDC Energy, Inc.		3,017		193,631
Phillips 66		15,557		1,577,169
Plug Power, Inc. *		16,907		198,150
Range Resources Corp.		8,066		213,507
Southwestern Energy Co. *		37,741		188,705
Sunrun, Inc. *		6,780		136,617
Targa Resources Corp.		7,539		549,970
Texas Pacific Land Corp.		192		326,596
Vitesse Energy, Inc.		1,023		19,468
Williams Cos., Inc.		40,652		1,213,869
				17,139,336
Financial - 18.4%
Affiliated Managers Group, Inc.		1,286		183,152
Aflac, Inc.		20,363		1,313,821
AGNC Investment Corp. REIT		18,571		187,196
Air Lease Corp.		3,382		133,149
Alexandria Real Estate Equities, Inc. REIT		5,733		720,007
Allstate Corp.		8,822		977,566
Ally Financial, Inc.		10,124		258,061
American Financial Group, Inc.		2,269		275,683
American Homes 4 Rent Class A REIT		10,325		324,721
Americold Realty Trust, Inc. REIT		9,077		258,241
Ameriprise Financial, Inc.		3,510		1,075,815
Annaly Capital Management, Inc. REIT		15,713		300,275
Apartment Income REIT Corp. REIT		5,142		184,135

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

250

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PD MID-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Apollo Global Management, Inc.		16,138		$1,019,276
Arch Capital Group Ltd. *		11,819		802,155
Ares Management Corp. Class A		5,117		426,962
Arthur J Gallagher & Co.		6,944		1,328,457
Assurant, Inc.		1,732		207,961
Assured Guaranty Ltd.		1,875		94,256
AvalonBay Communities, Inc. REIT		4,661		783,328
Axis Capital Holdings Ltd.		2,533		138,099
Bank of Hawaii Corp.		1,273		66,298
Bank of New York Mellon Corp.		24,516		1,114,007
Bank OZK		3,640		124,488
Blue Owl Capital, Inc.		13,733		152,162
BOK Financial Corp.		945		79,767
Boston Properties, Inc. REIT		5,282		285,862
Brighthouse Financial, Inc. *		2,206		97,307
Brixmor Property Group, Inc. REIT		9,709		208,938
Brown & Brown, Inc.		7,888		452,929
Camden Property Trust REIT		3,465		363,271
Carlyle Group, Inc.		7,040		218,662
Cboe Global Markets, Inc.		3,532		474,136
CBRE Group, Inc. Class A *		10,519		765,888
Cincinnati Financial Corp.		5,115		573,289
Citizens Financial Group, Inc.		16,293		494,818
CNA Financial Corp.		888		34,659
Coinbase Global, Inc. Class A *		5,328		360,013
Columbia Banking System, Inc.		6,909		147,991
Comerica, Inc.		4,252		184,622
Commerce Bancshares, Inc.		3,859		225,173
Cousins Properties, Inc. REIT		4,916		105,104
Credit Acceptance Corp. *		216		94,185
CubeSmart REIT		7,474		345,448
Cullen/Frost Bankers, Inc.		1,987		209,311
Discover Financial Services		8,901		879,775
Douglas Emmett, Inc. REIT		5,502		67,840
East West Bancorp, Inc.		4,771		264,790
EastGroup Properties, Inc. REIT		1,397		230,952
EPR Properties REIT		2,410		91,821
Equitable Holdings, Inc.		11,999		304,655
Equity LifeStyle Properties, Inc. REIT		5,926		397,812
Equity Residential REIT		12,358		741,480
Erie Indemnity Co. Class A		816		189,035
Essex Property Trust, Inc. REIT		2,144		448,396
Evercore, Inc. Class A		1,187		136,956
Everest Re Group Ltd.		1,298		464,710
Extra Space Storage, Inc. REIT		4,422		720,476
F&G Annuities & Life, Inc.		763		13,826
Federal Realty Investment Trust REIT		2,713		268,126
Fidelity National Financial, Inc.		8,456		295,368
Fifth Third Bancorp		22,737		605,714
First American Financial Corp.		3,284		182,787
First Citizens BancShares, Inc. Class A		358		348,370
First Hawaiian, Inc.		4,158		85,779
First Horizon Corp.		17,226		306,278
First Industrial Realty Trust, Inc. REIT		4,469		237,751
First Republic Bank		6,430		89,956
FNB Corp.		11,650		135,140
Franklin Resources, Inc.		9,289		250,246
Gaming & Leisure Properties, Inc. REIT		8,146		424,081
Globe Life, Inc.		2,999		329,950
Hanover Insurance Group, Inc.		1,228		157,798
Hartford Financial Services Group, Inc.		10,595		738,366
Healthcare Realty Trust, Inc. REIT		12,819		247,791
Healthpeak Properties, Inc. REIT		18,234		400,601
Highwoods Properties, Inc. REIT		3,381		78,405
Host Hotels & Resorts, Inc. REIT		23,642		389,857
Howard Hughes Corp. *		1,192		95,360
Hudson Pacific Properties, Inc. REIT		4,478		29,779
Huntington Bancshares, Inc.		47,889		536,357
Interactive Brokers Group, Inc. Class A		3,144		259,569
Invesco Ltd.		12,155		199,342
Invitation Homes, Inc. REIT		20,364		635,968
Iron Mountain, Inc. REIT		9,632		509,629

	Shares		Value
Janus Henderson Group PLC		4,428		$117,962
JBG SMITH Properties REIT		3,478		52,379
Jefferies Financial Group, Inc.		6,440		204,406
Jones Lang LaSalle, Inc. *		1,617		235,257
Kemper Corp.		2,067		112,982
KeyCorp		31,045		388,683
Kilroy Realty Corp. REIT		3,783		122,569
Kimco Realty Corp. REIT		20,180		394,115
KKR & Co., Inc.		19,087		1,002,449
Lamar Advertising Co. Class A REIT		2,913		290,980
Lazard Ltd. Class A		2,694		89,198
Life Storage, Inc. REIT		2,814		368,887
Lincoln National Corp.		5,523		124,102
Loews Corp.		6,501		377,188
LPL Financial Holdings, Inc.		2,656		537,574
M&T Bank Corp.		5,737		685,973
Markel Corp. *		441		563,338
Medical Properties Trust, Inc. REIT		19,332		158,909
MGIC Investment Corp.		9,613		129,006
Mid-America Apartment Communities, Inc. REIT		3,831		578,634
Nasdaq, Inc.		11,473		627,229
National Retail Properties, Inc. REIT		6,109		269,712
National Storage Affiliates Trust REIT		2,763		115,438
New York Community Bancorp, Inc.		21,788		196,963
Northern Trust Corp.		6,859		604,484
Old Republic International Corp.		9,479		236,691
Omega Healthcare Investors, Inc. REIT		7,989		218,978
OneMain Holdings, Inc.		3,736		138,531
PacWest Bancorp		3,783		36,809
Park Hotels & Resorts, Inc. REIT		7,255		89,672
Pinnacle Financial Partners, Inc.		2,439		134,535
Popular, Inc.		2,292		131,584
Primerica, Inc.		1,193		205,482
Principal Financial Group, Inc.		8,080		600,506
Prosperity Bancshares, Inc.		2,998		184,437
Prudential Financial, Inc.		12,290		1,016,875
Raymond James Financial, Inc.		6,496		605,882
Rayonier, Inc. REIT		5,032		167,364
Realty Income Corp. REIT		20,946		1,326,301
Regency Centers Corp. REIT		5,740		351,173
Regions Financial Corp.		31,190		578,886
Reinsurance Group of America, Inc.		2,251		298,843
RenaissanceRe Holdings Ltd. (Bermuda)		1,450		290,493
Rexford Industrial Realty, Inc. REIT		6,525		389,216
Rithm Capital Corp. REIT		14,092		112,736
Rocket Cos., Inc. Class A *		3,693		33,459
Ryan Specialty Holdings, Inc. *		2,677		107,722
SBA Communications Corp. REIT		3,559		929,148
SEI Investments Co.		3,347		192,620
Simon Property Group, Inc. REIT		10,887		1,219,017
SL Green Realty Corp. REIT		2,084		49,016
SLM Corp.		7,795		96,580
SoFi Technologies, Inc. *		27,902		169,365
Spirit Realty Capital, Inc. REIT		4,767		189,917
Starwood Property Trust, Inc. REIT		9,507		168,179
State Street Corp.		11,640		881,032
Stifel Financial Corp.		3,324		196,415
Sun Communities, Inc. REIT		4,059		571,832
Synchrony Financial		14,533		422,620
Synovus Financial Corp.		4,686		144,469
T Rowe Price Group, Inc.		7,342		828,912
TFS Financial Corp.		1,778		22,456
Tradeweb Markets, Inc. Class A		3,626		286,526
UDR, Inc. REIT		10,938		449,114
Unum Group		6,700		265,052
Upstart Holdings, Inc. *		2,295		36,468
UWM Holdings Corp.		2,763		13,566
Ventas, Inc. REIT		13,323		577,552
VICI Properties, Inc. REIT		33,459		1,091,433
Virtu Financial, Inc. Class A		3,071		58,042
Vornado Realty Trust REIT		5,743		88,270
Voya Financial, Inc.		3,314		236,818

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

251

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PD MID-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
W R Berkley Corp.		6,869		$427,664
Webster Financial Corp.		5,865		231,198
Welltower, Inc. REIT		15,788		1,131,842
Western Alliance Bancorp		3,442		122,329
Western Union Co.		10,837		120,833
WeWork, Inc. Class A *		5,435		4,225
Weyerhaeuser Co. REIT		24,557		739,902
White Mountains Insurance Group Ltd.		81		111,577
Willis Towers Watson PLC		3,592		834,709
Wintrust Financial Corp.		2,077		151,517
WP Carey, Inc. REIT		6,966		539,517
Zions Bancorp NA		5,098		152,583
				60,318,443
Industrial - 14.5%
Acuity Brands, Inc.		1,043		190,587
Advanced Drainage Systems, Inc.		2,143		180,462
AECOM		4,399		370,924
AGCO Corp.		2,097		283,514
Agilent Technologies, Inc.		9,873		1,365,831
Allegion PLC		2,942		314,000
Amcor PLC		49,486		563,151
AMETEK, Inc.		7,690		1,117,588
Amphenol Corp. Class A		19,546		1,597,299
AO Smith Corp.		4,212		291,260
AptarGroup, Inc.		2,214		261,673
Ardagh Group SA * W		1,329		8,878
Ardagh Metal Packaging SA		4,302		17,552
Armstrong World Industries, Inc.		1,474		105,008
Arrow Electronics, Inc. *		1,969		245,869
Avnet, Inc.		2,960		133,792
Axon Enterprise, Inc. *		2,254		506,812
AZEK Co., Inc. *		3,621		85,238
Ball Corp.		10,291		567,137
Berry Global Group, Inc.		4,124		242,904
Builders FirstSource, Inc. *		4,852		430,761
BWX Technologies, Inc.		2,972		187,355
Carlisle Cos., Inc.		1,716		387,936
Carrier Global Corp.		27,893		1,276,105
CH Robinson Worldwide, Inc.		3,874		384,959
ChargePoint Holdings, Inc. *		8,238		86,252
Clean Harbors, Inc. *		1,728		246,344
Cognex Corp.		5,845		289,620
Coherent Corp. *		3,862		147,065
Crane Co.		1,615		183,302
Crown Holdings, Inc.		3,867		319,840
Curtiss-Wright Corp.		1,302		229,490
Donaldson Co., Inc.		4,102		268,025
Dover Corp.		4,674		710,168
Eagle Materials, Inc.		1,234		181,089
Esab Corp.		1,845		108,984
Expeditors International of Washington, Inc.		5,293		582,865
Flowserve Corp.		4,238		144,092
Fortive Corp.		11,816		805,497
Fortune Brands Innovations, Inc.		4,321		253,772
Garmin Ltd.		5,144		519,132
Gates Industrial Corp. PLC *		3,512		48,782
Generac Holdings, Inc. *		2,109		227,793
Graco, Inc.		5,601		408,929
Graphic Packaging Holding Co.		10,348		263,770
Hayward Holdings, Inc. *		2,409		28,233
HEICO Corp.		1,520		259,981
HEICO Corp. Class A		2,641		358,912
Hexcel Corp.		2,728		186,186
Howmet Aerospace, Inc.		12,383		524,668
Hubbell, Inc.		1,787		434,795
Huntington Ingalls Industries, Inc.		1,327		274,716
IDEX Corp.		2,535		585,661
Ingersoll Rand, Inc.		13,556		788,688
ITT, Inc.		2,833		244,488
Jabil, Inc.		4,351		383,584

	Shares		Value
Jacobs Solutions, Inc.		4,201		$493,659
JB Hunt Transport Services, Inc.		2,750		482,515
Keysight Technologies, Inc. *		5,981		965,812
Kirby Corp. *		1,943		135,427
Knight-Swift Transportation Holdings, Inc.		5,249		296,988
Landstar System, Inc.		1,161		208,121
Lennox International, Inc.		1,078		270,880
Lincoln Electric Holdings, Inc.		1,881		318,077
Littelfuse, Inc.		787		210,987
Louisiana-Pacific Corp.		2,313		125,388
Martin Marietta Materials, Inc.		2,075		736,749
Masco Corp.		7,520		373,894
MasTec, Inc. *		2,090		197,380
Masterbrand, Inc. *		4,160		33,446
MDU Resources Group, Inc.		6,575		200,406
Mercury Systems, Inc. *		1,601		81,843
Mettler-Toledo International, Inc. *		734		1,123,174
Middleby Corp. *		1,809		265,217
Mohawk Industries, Inc. *		1,809		181,298
MSA Safety, Inc.		1,273		169,945
National Instruments Corp.		4,438		232,596
Nordson Corp.		1,908		424,072
nVent Electric PLC		5,600		240,464
Old Dominion Freight Line, Inc.		3,315		1,129,885
Oshkosh Corp.		2,254		187,488
Otis Worldwide Corp.		13,914		1,174,342
Owens Corning		3,138		300,620
Packaging Corp. of America		3,045		422,737
Parker-Hannifin Corp.		4,271		1,435,526
Pentair PLC		5,536		305,975
Regal Rexnord Corp.		2,186		307,636
Republic Services, Inc.		6,882		930,584
Rockwell Automation, Inc.		3,833		1,124,794
RXO, Inc. *		3,697		72,609
Ryder System, Inc.		1,581		141,088
Schneider National, Inc. Class B		1,758		47,026
Sealed Air Corp.		4,953		227,392
Sensata Technologies Holding PLC		5,123		256,252
Silgan Holdings, Inc.		2,737		146,895
Snap-on, Inc.		1,754		433,045
Sonoco Products Co.		3,337		203,557
Spirit AeroSystems Holdings, Inc. Class A		3,397		117,298
Stanley Black & Decker, Inc.		4,927		397,018
Stericycle, Inc. *		2,983		130,089
TD SYNNEX Corp.		1,520		147,121
Teledyne Technologies, Inc. *		1,545		691,171
Tetra Tech, Inc.		1,778		261,206
Textron, Inc.		6,958		491,444
Timken Co.		2,115		172,838
TopBuild Corp. *		1,038		216,049
Toro Co.		3,484		387,281
Trane Technologies PLC		7,669		1,410,943
TransDigm Group, Inc.		1,714		1,263,304
Trex Co., Inc. *		3,783		184,119
Trimble, Inc. *		8,215		430,630
Universal Display Corp.		1,414		219,354
Valmont Industries, Inc.		684		218,388
Vertiv Holdings Co.		9,881		141,397
Vontier Corp.		5,139		140,500
Vulcan Materials Co.		4,418		757,952
Westinghouse Air Brake Technologies Corp.		6,040		610,402
Westrock Co.		8,589		261,707
Woodward, Inc.		1,990		193,766
XPO, Inc. *		3,332		106,291
Xylem, Inc.		5,977		625,792
				47,403,167
Technology - 12.6%
Akamai Technologies, Inc. *		5,169		404,733
Allegro MicroSystems, Inc. * (Japan)		2,157		103,514
Alteryx, Inc. Class A *		1,954		114,973

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

252

PACIFIC SELECT FUND

PD MID-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Amdocs Ltd.		3,968		$381,047
ANSYS, Inc. *		2,903		966,118
AppLovin Corp. Class A *		7,123		112,187
Aspen Technology, Inc. *		924		211,476
Bentley Systems, Inc. Class B		5,712		245,559
BILL Holdings, Inc. *		3,344		271,332
Black Knight, Inc. *		5,197		299,139
Broadridge Financial Solutions, Inc.		3,893		570,597
CACI International, Inc. Class A *		787		233,172
Cadence Design Systems, Inc. *		9,105		1,912,870
CCC Intelligent Solutions Holdings, Inc. *		5,562		49,891
Ceridian HCM Holding, Inc. *		4,587		335,860
Cirrus Logic, Inc. *		1,784		195,134
Cloudflare, Inc. Class A *		9,437		581,885
Concentrix Corp.		1,461		177,585
Confluent, Inc. Class A *		4,043		97,315
Crowdstrike Holdings, Inc. Class A *		7,188		986,625
Datadog, Inc. Class A *		8,860		643,768
Definitive Healthcare Corp. *		1,330		13,739
Dell Technologies, Inc. Class C		7,937		319,147
DocuSign, Inc. *		6,592		384,314
DoubleVerify Holdings, Inc. *		2,795		84,269
Doximity, Inc. Class A *		3,638		117,798
Dropbox, Inc. Class A *		9,190		198,688
DXC Technology Co. *		7,888		201,617
Dynatrace, Inc. *		7,281		307,986
Elastic NV *		2,519		145,850
Electronic Arts, Inc.		9,122		1,098,745
Entegris, Inc.		4,952		406,114
EPAM Systems, Inc. *		1,831		547,469
Fair Isaac Corp. *		810		569,179
Five9, Inc. *		2,279		164,749
Fortinet, Inc. *		21,536		1,431,283
Genpact Ltd.		6,018		278,152
GLOBALFOUNDRIES, Inc. *		2,064		148,980
Globant SA *		1,325		217,313
Guidewire Software, Inc. *		2,787		228,673
Hewlett Packard Enterprise Co.		42,894		683,301
HP, Inc.		32,794		962,504
HubSpot, Inc. *		1,545		662,419
Informatica, Inc. Class A *		1,151		18,876
IPG Photonics Corp. *		1,061		130,832
Jack Henry & Associates, Inc.		2,426		365,647
Jamf Holding Corp. *		2,153		41,811
KBR, Inc.		4,616		254,111
Kyndryl Holdings, Inc. *		6,652		98,184
Lattice Semiconductor Corp. *		4,527		432,329
Leidos Holdings, Inc.		4,545		418,413
Lumentum Holdings, Inc. *		2,217		119,740
Manhattan Associates, Inc. *		2,084		322,707
Microchip Technology, Inc.		17,765		1,488,352
MKS Instruments, Inc.		1,971		174,670
MongoDB, Inc. *		2,213		515,895
Monolithic Power Systems, Inc.		1,530		765,826
MSCI, Inc.		2,593		1,451,276
nCino, Inc. *		2,267		56,176
NCR Corp. *		4,180		98,606
NetApp, Inc.		7,251		462,976
New Relic, Inc. *		1,734		130,553
Nutanix, Inc. Class A *		7,475		194,275
ON Semiconductor Corp. *		14,479		1,191,911
Palantir Technologies, Inc. Class A *		61,387		518,720
Paychex, Inc.		10,766		1,233,676
Paycom Software, Inc. *		1,708		519,249
Paycor HCM, Inc. *		2,158		57,230
Pegasystems, Inc.		1,346		65,254
Playtika Holding Corp. *		2,948		33,195
Procore Technologies, Inc. *		2,315		144,988
PTC, Inc. *		3,553		455,601
Pure Storage, Inc. Class A *		9,665		246,554
Qorvo, Inc. *		3,338		339,041
RingCentral, Inc. Class A *		2,773		85,048

	Shares		Value
ROBLOX Corp. Class A *		14,929		$671,506
Science Applications International Corp.		1,789		192,246
SentinelOne, Inc. Class A *		6,216		101,694
Skyworks Solutions, Inc.		5,301		625,412
Smartsheet, Inc. Class A *		4,139		197,844
Splunk, Inc. *		5,429		520,533
SS&C Technologies Holdings, Inc.		7,362		415,732
Synopsys, Inc. *		5,089		1,965,626
Take-Two Interactive Software, Inc. *		5,515		657,940
Teradata Corp. *		3,331		134,173
Teradyne, Inc.		5,226		561,847
Thoughtworks Holding, Inc. *		3,591		26,430
Twilio, Inc. Class A *		5,817		387,587
Tyler Technologies, Inc. *		1,373		486,921
UiPath, Inc. Class A *		12,807		224,891
Unity Software, Inc. *		8,009		259,812
Veeva Systems, Inc. Class A *		4,650		854,624
Western Digital Corp. *		10,609		399,641
Wolfspeed, Inc. *		4,156		269,932
Zebra Technologies Corp. Class A *		1,722		547,596
Zoom Video Communications, Inc. Class A *		8,199		605,414
ZoomInfo Technologies, Inc. *		9,333		230,618
Zscaler, Inc. *		2,834		331,096
				41,167,906
Utilities - 5.6%
AES Corp.		22,262		536,069
Alliant Energy Corp.		8,364		446,638
Ameren Corp.		8,589		742,004
American Water Works Co., Inc.		6,439		943,249
Atmos Energy Corp.		4,742		532,811
Avangrid, Inc.		2,307		92,003
Brookfield Renewable Corp. Class A		4,156		145,252
CenterPoint Energy, Inc.		21,027		619,455
CMS Energy Corp.		9,662		593,054
Consolidated Edison, Inc.		11,844		1,133,115
Constellation Energy Corp.		10,898		855,493
DTE Energy Co.		6,438		705,219
Edison International		12,548		885,763
Entergy Corp.		6,775		729,938
Essential Utilities, Inc.		7,749		338,244
Evergy, Inc.		7,418		453,388
Eversource Energy		11,501		900,068
FirstEnergy Corp.		18,122		725,967
Hawaiian Electric Industries, Inc.		3,541		135,974
IDACORP, Inc.		1,724		186,761
National Fuel Gas Co.		3,020		174,375
NiSource, Inc.		13,553		378,942
NRG Energy, Inc.		7,199		246,854
OGE Energy Corp.		6,757		254,469
PG&E Corp. *		54,946		888,477
Pinnacle West Capital Corp.		3,793		300,557
PPL Corp.		24,595		683,495
Public Service Enterprise Group, Inc.		16,618		1,037,794
UGI Corp.		7,077		245,997
Vistra Corp.		13,158		315,792
WEC Energy Group, Inc.		10,532		998,328
Xcel Energy, Inc.		18,202		1,227,543
				18,453,088
Total Common Stocks (Cost $323,633,224)				322,061,354
EXCHANGE-TRADED FUND - 0.9%
iShares Russell Mid-Cap		43,121		3,015,020
Total Exchange-Traded Fund (Cost $2,930,093)				3,015,020

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

253

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PD MID-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 0.7%
Repurchase Agreement - 0.7%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $2,347,859; collateralized by U.S. Treasury Notes: 2.875% due 06/15/2025 and value $2,394,020)		$2,346,989		$2,346,989
Total Short-Term Investment (Cost $2,346,989)				2,346,989
TOTAL INVESTMENTS - 99.9% (Cost $328,910,306)				327,423,363
DERIVATIVES - 0.0%				131,599
OTHER ASSETS & LIABILITIES, NET - 0.1%				314,624
NET ASSETS - 100.0%				$327,869,586

Notes to Schedule of Investments

(a) An investment with a value of $8,878 or less than 0.1% of the Fund’s net assets was valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or to the Board of Trustees.

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

254

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(b) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month		Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
S&P 500 E-Mini Index		06/23		5		$981,557		$1,034,438		$52,881
S&P MID 400 E-Mini Index		06/23		8		1,945,042		2,023,760		78,718
Total Futures Contracts										$131,599

(c) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Common Stocks
	Basic Materials		$12,810,547		$12,810,547		$-		$-
	Communications		19,884,152		19,884,152		-		-
	Consumer, Cyclical		46,114,027		46,114,027		-		-
	Consumer, Non-Cyclical		58,770,688		58,770,688		-		-
	Energy		17,139,336		17,139,336		-		-
	Financial		60,318,443		60,318,443		-		-
	Industrial		47,403,167		47,394,289		8,878		-
	Technology		41,167,906		41,167,906		-		-
	Utilities		18,453,088		18,453,088		-		-
	Total Common Stocks		322,061,354		322,052,476		8,878		-
	Exchange-Traded Fund		3,015,020		3,015,020		-		-
	Short-Term Investment		2,346,989		-		2,346,989		-
	Derivatives:
	Equity Contracts
	Futures		131,599		131,599		-		-
	Total		$327,554,962		$325,199,095		$2,355,867		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

255

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Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
RIGHTS - 0.0%
Consumer, Non-Cyclical - 0.0%
Contra Aduro Biotechnologies, Inc. - Contingent Value Rights * W ±		758		$ 1,924
Gtx, Inc. - Contingent Value Rights * W ±		33		34
OmniAb, Inc. $12.50 - Earn Out Shares * W ±		40		-
OmniAb, Inc. $15.00 - Earn Out Shares * W ±		40		-
				1,958
Total Rights (Cost $68)				1,958
COMMON STOCKS - 98.3%
Basic Materials - 4.2%
5E Advanced Materials, Inc. *		2,806		15,209
AdvanSix, Inc.		645		24,684
American Vanguard Corp.		1,744		38,159
Amyris, Inc. *		1,358		1,847
ATI, Inc. *		8,944		352,930
Avient Corp.		4,821		198,432
Balchem Corp.		2,296		290,398
Cabot Corp.		4,007		307,097
Century Aluminum Co. *		3,692		36,920
Codexis, Inc. *		4,410		18,257
Commercial Metals Co.		1,426		69,731
Compass Minerals International, Inc.		2,537		86,994
Constellium SE *		4,954		75,697
Dakota Gold Corp. *		3,713		13,441
Diversey Holdings Ltd. *		5,554		44,932
Energy Fuels, Inc. *		9,211		51,397
Hawkins, Inc.		853		37,344
HB Fuller Co.		3,348		229,171
Hycroft Mining Holding Corp. *		7,248		3,134
Ingevity Corp. *		2,707		193,605
Innospec, Inc.		1,508		154,826
Ivanhoe Electric, Inc. *		1,581		19,209
Kaiser Aluminum Corp.		1,132		84,481
Kronos Worldwide, Inc.		1,597		14,708
Lightwave Logic, Inc. *		8,034		42,018
Livent Corp. *		11,678		253,646
Mativ Holdings, Inc.		326		6,999
Novagold Resources, Inc. *		16,646		103,538
Origin Materials, Inc. *		4,667		19,928
Orion Engineered Carbons SA		4,386		114,431
Piedmont Lithium, Inc. *		343		20,597
Quaker Chemical Corp.		651		128,866
Rogers Corp. *		1,368		223,572
Schnitzer Steel Industries, Inc. Class A		218		6,780
Sensient Technologies Corp.		2,886		220,952
Stepan Co.		182		18,752
Sylvamo Corp.		2,346		108,526
Terawulf, Inc. *		4,103		3,848
Ur-Energy, Inc. *		13,844		14,675
Uranium Energy Corp. *		26,195		75,442
US Lime & Minerals, Inc.		118		18,017
				3,743,190
Communications - 4.5%
A10 Networks, Inc.		3,657		56,647
AdTheorent Holding Co., Inc. *		3,626		6,128
ADTRAN Holdings, Inc.		4,988		79,110
Allbirds, Inc. Class A *		1,424		1,709
Anterix, Inc. *		421		13,910
Arena Group Holdings, Inc. *		488		2,074

	Shares		Value
Boston Omaha Corp. Class A *		81		$ 1,917
Calix, Inc. *		3,269		175,186
Cambium Networks Corp. *		843		14,938
Cargurus, Inc. *		7,385		137,952
CarParts.com, Inc. *		3,545		18,930
Cars.com, Inc. *		640		12,352
Casa Systems, Inc. *		1,956		2,484
Clearfield, Inc. *		912		42,481
Cogent Communications Holdings, Inc.		1,682		107,177
CommScope Holding Co., Inc. *		15,049		95,862
Consolidated Communications Holdings, Inc. *		375		968
Couchbase, Inc. *		2,026		28,486
Credo Technology Group Holding Ltd. *		6,993		65,874
Cyxtera Technologies, Inc. *		2,153		658
DHI Group, Inc. *		2,764		10,724
DigitalBridge Group, Inc.		10,223		122,574
DZS, Inc. *		1,471		11,606
Edgio, Inc. *		9,928		7,854
Entravision Communications Corp. Class A		2,995		18,120
ePlus, Inc. *		1,458		71,500
Eventbrite, Inc. Class A *		4,873		41,810
EverQuote, Inc. Class A *		1,414		19,655
Extreme Networks, Inc. *		8,963		171,373
Figs, Inc. Class A *		7,714		47,750
Focus Universal, Inc. *		2,484		6,210
Gambling.com Group Ltd. *		750		7,432
Globalstar, Inc. *		40,985		47,543
Gogo, Inc. *		237		3,437
Gray Television, Inc.		2,609		22,750
Groupon, Inc. *		117		493
Harmonic, Inc. *		6,786		99,008
HealthStream, Inc. *		112		3,035
Hims & Hers Health, Inc. *		7,538		74,777
IDT Corp. Class B *		787		26,821
Infinera Corp. *		14,137		109,703
Innovid Corp. *		5,714		8,057
Inseego Corp. *		1,096		638
InterDigital, Inc.		792		57,737
Iridium Communications, Inc.		9,009		557,927
Liquidity Services, Inc. *		854		11,247
Lulu’s Fashion Lounge Holdings, Inc. *		953		2,268
Marqeta, Inc. Class A *		31,525		144,069
MediaAlpha, Inc. Class A *		1,743		26,110
Nerdy, Inc. *		3,911		16,348
Ondas Holdings, Inc. *		2,127		2,297
Ooma, Inc. *		1,719		21,505
Open Lending Corp. Class A *		7,558		53,208
OptimizeRx Corp. *		1,186		17,351
Perficient, Inc. *		2,469		178,237
Planet Labs PBC *		12,128		47,663
Q2 Holdings, Inc. *		4,031		99,243
QuinStreet, Inc. *		182		2,888
Quotient Technology, Inc. *		913		2,995
RealReal, Inc. *		801		1,009
Revolve Group, Inc. *		3,018		79,373
Rover Group, Inc. *		6,312		28,593
Shutterstock, Inc.		1,733		125,816
Sinclair Broadcast Group, Inc. Class A		2,896		49,695
Squarespace, Inc. Class A *		530		16,838
Stagwell, Inc. *		412		3,057
Stitch Fix, Inc. Class A *		2,375		12,136
TechTarget, Inc. *		1,932		69,784
Thryv Holdings, Inc. *		489		11,276
Tucows, Inc. Class A *		706		13,732
Upwork, Inc. *		8,932		101,110
Value Line, Inc.		55		2,658
Viavi Solutions, Inc. *		16,313		176,670
Vivid Seats, Inc. Class A *		360		2,747
WideOpenWest, Inc. *		2,225		23,652
Yelp, Inc. *		4,894		150,246
Ziff Davis, Inc. *		619		48,313
				3,955,511

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

256

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PD SMALL-CAP GROWTH INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Consumer, Cyclical - 12.0%
Accel Entertainment, Inc. *		3,951		$ 35,994
Acushnet Holdings Corp.		674		34,334
Aeva Technologies, Inc. *		421		501
Allegiant Travel Co. *		489		44,978
American Axle & Manufacturing Holdings, Inc. *		350		2,734
Arko Corp.		5,984		50,804
Asbury Automotive Group, Inc. *		466		97,860
Aspen Aerogels, Inc. *		3,581		26,678
Aterian, Inc. *		297		255
Beacon Roofing Supply, Inc. *		2,609		153,540
Bed Bath & Beyond, Inc. *		5,686		2,430
Bloomin’ Brands, Inc.		4,606		118,144
Blue Bird Corp. *		1,242		25,374
Bluegreen Vacations Holding Corp.		142		3,888
Boot Barn Holdings, Inc. *		2,132		163,397
Brinker International, Inc. *		2,845		108,110
Buckle, Inc.		2,046		73,022
Build-A-Bear Workshop, Inc.		676		15,710
Caleres, Inc.		2,432		52,604
Camping World Holdings, Inc. Class A		2,865		59,793
Canoo, Inc. *		20,503		13,380
Cavco Industries, Inc. *		628		199,541
Century Casinos, Inc. *		1,542		11,303
Century Communities, Inc.		160		10,227
Cepton, Inc. *		2,201		1,022
Cheesecake Factory, Inc.		3,524		123,516
Chico’s FAS, Inc. *		6,215		34,183
Children’s Place, Inc. *		555		22,339
Cinemark Holdings, Inc. *		6,320		93,473
Citi Trends, Inc. *		25		476
Clarus Corp.		1,383		13,069
Cracker Barrel Old Country Store, Inc.		1,598		181,533
Crocs, Inc. *		4,372		552,796
Dave & Buster’s Entertainment, Inc. *		3,124		114,932
Denny’s Corp. *		2,848		31,784
Designer Brands, Inc. Class A		2,566		22,427
Destination XL Group, Inc. *		2,111		11,632
Dillard’s, Inc. Class A		289		88,920
Dine Brands Global, Inc.		928		62,770
Dorman Products, Inc. *		1,905		164,325
Douglas Dynamics, Inc.		1,614		51,470
Dream Finders Homes, Inc. Class A *		1,475		19,544
Duluth Holdings, Inc. Class B *		353		2,252
Ermenegildo Zegna NV		935		12,753
Everi Holdings, Inc. *		3,463		59,390
EVgo, Inc. *		852		6,637
F45 Training Holdings, Inc. *		3,716		4,311
First Watch Restaurant Group, Inc. *		464		7,452
FirstCash, Inc.		1,374		131,038
Fisker, Inc. *		13,024		79,967
Forestar Group, Inc. *		430		6,691
Fox Factory Holding Corp. *		3,057		371,028
Franchise Group, Inc.		1,739		47,388
Frontier Group Holdings, Inc. *		2,622		25,801
Full House Resorts, Inc. *		834		6,030
Funko, Inc. Class A *		2,283		21,529
Gentherm, Inc. *		2,401		145,068
Global Industrial Co.		701		18,815
GMS, Inc. *		3,014		174,480
Golden Entertainment, Inc. *		1,483		64,525
Green Brick Partners, Inc. *		521		18,266
Guess?, Inc.		2,302		44,797
H&E Equipment Services, Inc.		2,332		103,144
Hibbett, Inc.		742		43,763
Hilton Grand Vacations, Inc. *		6,189		274,977
HNI Corp.		2,991		83,269
Holley, Inc. *		3,863		10,585

	Shares		Value
Hovnanian Enterprises, Inc. Class A *		342		$ 23,201
Hudson Technologies, Inc. *		3,039		26,530
Hyzon Motors, Inc. *		7,505		6,117
IMAX Corp. *		2,035		39,031
indie Semiconductor, Inc. Class A *		7,861		82,934
Installed Building Products, Inc.		1,715		195,561
Interface, Inc.		3,344		27,153
International Game Technology PLC		1,645		44,086
iRobot Corp. *		1,748		76,283
Jack in the Box, Inc.		200		17,518
KB Home		993		39,899
Kontoor Brands, Inc.		4,003		193,705
Kura Sushi USA, Inc. Class A *		327		21,530
LCI Industries		1,790		196,667
LGI Homes, Inc. *		102		11,631
Liberty Media Corp. - Liberty Braves Class A *		772		26,696
Liberty Media Corp. - Liberty Braves Class C *		2,711		91,334
Lightning eMotors, Inc. *		2,246		643
Lindblad Expeditions Holdings, Inc. *		142		1,358
Lovesac Co. *		991		28,640
Luminar Technologies, Inc. *		18,124		117,625
M/I Homes, Inc. *		254		16,025
Malibu Boats, Inc. Class A *		1,497		84,506
Marine Products Corp.		692		9,128
MarineMax, Inc. *		96		2,760
MasterCraft Boat Holdings, Inc. *		1,310		39,863
MDC Holdings, Inc.		1,086		42,213
Meritage Homes Corp.		184		21,484
Microvast Holdings, Inc. *		7,724		9,578
Miller Industries, Inc.		44		1,555
Monarch Casino & Resort, Inc.		981		72,741
MRC Global, Inc. *		5,931		57,649
Mullen Automotive, Inc. *		74,166		9,738
Murphy USA, Inc.		1,451		374,431
National Vision Holdings, Inc. *		398		7,498
NEOGAMES SA *		926		14,075
Nikola Corp. *		22,520		27,249
Noodles & Co. *		2,893		14,031
Nu Skin Enterprises, Inc. Class A		1,480		58,179
ONE Group Hospitality, Inc. *		1,655		13,406
OneSpaWorld Holdings Ltd. *		4,904		58,799
OneWater Marine, Inc. Class A *		136		3,804
Oxford Industries, Inc.		760		80,248
Papa John’s International, Inc.		1,709		128,055
Patrick Industries, Inc.		164		11,285
PetMed Express, Inc.		1,272		20,657
Portillo’s, Inc. Class A *		2,280		48,724
PriceSmart, Inc.		1,186		84,775
Proterra, Inc. *		7,327		11,137
Purple Innovation, Inc. *		198		523
RCI Hospitality Holdings, Inc.		595		46,511
Red Rock Resorts, Inc. Class A		1,676		74,699
Reservoir Media, Inc. *		1,516		9,884
Rite Aid Corp. *		2,409		5,396
Rocky Brands, Inc.		24		554
Rush Street Interactive, Inc. *		4,373		13,600
Ruth’s Hospitality Group, Inc.		2,234		36,682
Sally Beauty Holdings, Inc. *		7,233		112,690
SeaWorld Entertainment, Inc. *		1,462		89,635
Shake Shack, Inc. Class A *		2,715		150,655
Shyft Group, Inc.		2,459		55,942
Skyline Champion Corp. *		3,843		289,109
Sleep Number Corp. *		688		20,922
Solid Power, Inc. *		3,901		11,742
Sonder Holdings, Inc. *		13,703		10,375
Sonos, Inc. *		9,212		180,739
Sovos Brands, Inc. *		1,927		32,142
Steven Madden Ltd.		5,546		199,656
Sun Country Airlines Holdings, Inc. *		2,480		50,840
Sweetgreen, Inc. Class A *		6,329		49,619
Taylor Morrison Home Corp. *		958		36,653
Texas Roadhouse, Inc.		4,832		522,146

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

257

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PD SMALL-CAP GROWTH INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
ThredUp, Inc. Class A *		414		$ 1,047
Titan International, Inc. *		3,633		38,074
Torrid Holdings, Inc. *		483		2,106
Tri Pointe Homes, Inc. *		607		15,369
Veritiv Corp.		954		128,924
Vinco Ventures, Inc. *		7,547		2,425
Virgin Galactic Holdings, Inc. *		8,284		33,550
Visteon Corp. *		2,005		314,444
Vizio Holding Corp. Class A *		5,087		46,699
Wabash National Corp.		3,039		74,729
Warby Parker, Inc. Class A *		5,963		63,148
Wingstop, Inc.		2,160		396,533
Wolverine World Wide, Inc.		5,660		96,503
Workhorse Group, Inc. *		10,249		13,631
Xos, Inc. *		3,139		1,648
XPEL, Inc. *		1,567		106,478
Xponential Fitness, Inc. Class A *		435		13,220
				10,599,745
Consumer, Non-Cyclical - 29.2%
22nd Century Group, Inc. *		12,145		9,340
23andMe Holding Co. Class A *		7,925		18,069
Aadi Bioscience, Inc. *		1,139		8,246
AbCellera Biologics, Inc. *		6,591		49,696
ACADIA Pharmaceuticals, Inc. *		8,670		163,169
Aclaris Therapeutics, Inc. *		4,598		37,198
Acrivon Therapeutics, Inc. *		251		3,185
Adaptive Biotechnologies Corp. *		326		2,879
Addus HomeCare Corp. *		441		47,081
ADMA Biologics, Inc. *		6,507		21,538
Affimed NV *		10,968		8,178
Agenus, Inc. *		21,679		32,952
Agiliti, Inc. *		1,990		31,800
AirSculpt Technologies, Inc.		710		3,578
Akero Therapeutics, Inc. *		200		7,652
Akoya Biosciences, Inc. *		1,199		9,808
Alarm.com Holdings, Inc. *		3,497		175,829
Alector, Inc. *		4,473		27,688
Alkermes PLC *		11,747		331,148
Alphatec Holdings, Inc. *		4,757		74,209
Alpine Immune Sciences, Inc. *		866		6,686
Alta Equipment Group, Inc.		406		6,435
Amicus Therapeutics, Inc. *		19,869		220,347
AMN Healthcare Services, Inc. *		3,118		258,669
Amneal Pharmaceuticals, Inc. *		7,803		10,846
Amphastar Pharmaceuticals, Inc. *		2,784		104,400
Amylyx Pharmaceuticals, Inc. *		693		20,333
AN2 Therapeutics, Inc. *		82		809
Anavex Life Sciences Corp. *		4,912		42,096
Apellis Pharmaceuticals, Inc. *		6,756		445,626
Arbutus Biopharma Corp. *		4,402		13,338
Arcturus Therapeutics Holdings, Inc. *		1,510		36,195
Arcutis Biotherapeutics, Inc. *		2,960		32,560
Arlo Technologies, Inc. *		6,166		37,366
Arrowhead Pharmaceuticals, Inc. *		7,416		188,366
Artivion, Inc. *		2,363		30,955
Arvinas, Inc. *		3,549		96,959
ASGN, Inc. *		3,535		292,238
Atara Biotherapeutics, Inc. *		408		1,183
AtriCure, Inc. *		2,125		88,081
Atrion Corp.		97		60,907
Aura Biosciences, Inc. *		1,671		15,507
Aurinia Pharmaceuticals, Inc. *		9,787		107,266
Avid Bioservices, Inc. *		4,469		83,838
Axogen, Inc. *		2,897		27,377
Axonics, Inc. *		3,532		192,706
Axsome Therapeutics, Inc. *		2,313		142,666
Babylon Holdings Ltd. Class A *		249		1,267
Barrett Business Services, Inc.		452		40,065
Beachbody Co., Inc. *		796		384
Beam Therapeutics, Inc. *		4,597		140,760

	Shares		Value
Beauty Health Co. *		5,556		$ 70,172
BellRing Brands, Inc. *		9,637		327,658
Benson Hill, Inc. *		6,431		7,396
Beyond Meat, Inc. *		4,382		71,120
BioCryst Pharmaceuticals, Inc. *		9,416		78,529
Biohaven Ltd. *		2,795		38,180
BioLife Solutions, Inc. *		147		3,197
Blueprint Medicines Corp. *		4,305		193,682
BRC, Inc. Class A *		1,980		10,177
Bridgebio Pharma, Inc. *		4,841		80,264
Brink’s Co.		3,266		218,169
Cal-Maine Foods, Inc.		2,530		154,052
Calavo Growers, Inc.		1,260		36,250
Cano Health, Inc. *		11,683		10,632
Cardiovascular Systems, Inc. *		1,573		31,240
CareDx, Inc. *		3,642		33,288
Carriage Services, Inc.		942		28,750
Cass Information Systems, Inc.		194		8,402
Cassava Sciences, Inc. *		2,807		67,705
Catalyst Pharmaceuticals, Inc. *		7,031		116,574
CBIZ, Inc. *		3,434		169,949
Celldex Therapeutics, Inc. *		687		24,718
Celsius Holdings, Inc. *		4,003		372,039
Celularity, Inc. *		3,441		2,132
Central Garden & Pet Co. *		263		10,799
Central Garden & Pet Co. Class A *		1,127		44,032
Cerevel Therapeutics Holdings, Inc. *		4,176		101,853
Cerus Corp. *		12,357		36,700
Chefs’ Warehouse, Inc. *		1,714		58,362
Chegg, Inc. *		9,005		146,781
Chimerix, Inc. *		5,072		6,391
Cimpress PLC *		1,261		55,257
Clover Health Investments Corp. *		27,686		23,397
Coca-Cola Consolidated, Inc.		340		181,927
Coherus Biosciences, Inc. *		5,267		36,026
Collegium Pharmaceutical, Inc. *		2,477		59,423
CompoSecure, Inc. *		385		2,834
CONMED Corp.		2,108		218,937
Corcept Therapeutics, Inc. *		6,260		135,592
CorVel Corp. *		635		120,828
Coursera, Inc. *		8,334		96,008
CRA International, Inc.		498		53,694
Crinetics Pharmaceuticals, Inc. *		564		9,058
Cross Country Healthcare, Inc. *		377		8,415
CTI BioPharma Corp. *		1,727		7,253
Custom Truck One Source, Inc. *		1,625		11,034
Cutera, Inc. *		1,185		27,990
Cytek Biosciences, Inc. *		8,387		77,077
Cytokinetics, Inc. *		5,347		188,161
Deciphera Pharmaceuticals, Inc. *		1,051		16,238
Denali Therapeutics, Inc. *		7,841		180,657
Distribution Solutions Group, Inc. *		319		14,502
DocGo, Inc. *		6,162		53,301
Duckhorn Portfolio, Inc. *		3,032		48,209
Dynavax Technologies Corp. *		8,721		85,553
Eagle Pharmaceuticals, Inc. *		741		21,022
Eiger BioPharmaceuticals, Inc. *		2,204		1,977
elf Beauty, Inc. *		3,543		291,766
Embecta Corp.		3,623		101,879
Enanta Pharmaceuticals, Inc. *		173		6,996
Ensign Group, Inc.		3,881		370,791
Esperion Therapeutics, Inc. *		5,281		8,397
European Wax Center, Inc. Class A		1,599		30,381
EVERTEC, Inc.		4,438		149,782
Evolus, Inc. *		2,506		21,201
EyePoint Pharmaceuticals, Inc. *		682		2,005
Fate Therapeutics, Inc. *		5,943		33,875
FibroGen, Inc. *		5,643		105,298
First Advantage Corp. *		442		6,170
Flywire Corp. *		4,132		121,316
Foghorn Therapeutics, Inc. *		1,657		10,273
Forrester Research, Inc. *		833		26,948

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

258

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PD SMALL-CAP GROWTH INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Franklin Covey Co. *		871		$33,507
Fresh Market, Inc. * W ±		5,869		-
Gelesis Holdings, Inc. *		599		97
Geron Corp. *		21,959		47,651
Glaukos Corp. *		3,310		165,831
Gossamer Bio, Inc. *		5,487		6,914
Green Dot Corp. Class A *		323		5,549
GreenLight Biosciences Holdings PBC *		5,035		2,177
Hackett Group, Inc.		1,575		29,106
Haemonetics Corp. *		3,612		298,893
Halozyme Therapeutics, Inc. *		9,596		366,471
Harmony Biosciences Holdings, Inc. *		1,919		62,655
Healthcare Services Group, Inc.		2,582		35,812
HealthEquity, Inc. *		5,981		351,145
Helen of Troy Ltd. *		1,722		163,883
Herbalife Nutrition Ltd. *		4,774		76,861
Herc Holdings, Inc.		1,811		206,273
Heron Therapeutics, Inc. *		7,399		11,172
Heska Corp. *		690		67,358
HilleVax, Inc. *		341		5,637
Humacyte, Inc. *		4,214		13,021
Huron Consulting Group, Inc. *		843		67,752
I3 Verticals, Inc. Class A *		1,642		40,278
ICF International, Inc.		931		102,131
IGM Biosciences, Inc. *		606		8,326
ImmunityBio, Inc. *		5,351		9,739
ImmunoGen, Inc. *		7,571		29,073
Inari Medical, Inc. *		3,167		195,531
Information Services Group, Inc.		1,464		7,452
Inhibrx, Inc. *		2,316		43,703
Innovage Holding Corp. *		127		1,013
Innoviva, Inc. *		4,510		50,738
Inogen, Inc. *		71		886
Insmed, Inc. *		9,739		166,050
Insperity, Inc.		2,583		313,964
Inspire Medical Systems, Inc. *		2,060		482,184
Intellia Therapeutics, Inc. *		3,922		146,173
Inter Parfums, Inc.		1,293		183,916
Intercept Pharmaceuticals, Inc. *		1,742		23,395
Intra-Cellular Therapies, Inc. *		6,601		357,444
iRadimed Corp.		508		19,990
iRhythm Technologies, Inc. *		2,173		269,517
Ironwood Pharmaceuticals, Inc. *		9,962		104,800
IVERIC bio, Inc. *		9,839		239,383
J & J Snack Foods Corp.		1,108		164,228
John B Sanfilippo & Son, Inc.		400		38,768
John Wiley & Sons, Inc. Class A		2,901		112,472
Joint Corp. *		1,010		16,998
Karuna Therapeutics, Inc. *		2,335		424,129
Karyopharm Therapeutics, Inc. *		5,553		21,601
Keros Therapeutics, Inc. *		1,354		57,816
Kforce, Inc.		1,454		91,951
Kiniksa Pharmaceuticals Ltd. Class A *		2,087		22,456
Korn Ferry		3,786		195,888
Krispy Kreme, Inc.		1,337		20,790
Krystal Biotech, Inc. *		506		40,510
Lancaster Colony Corp.		1,184		240,210
Lantheus Holdings, Inc. *		4,923		406,443
Leafly Holdings, Inc. *		1,319		527
Legalzoom.com, Inc. *		7,106		66,654
LeMaitre Vascular, Inc.		1,394		71,749
Lexicon Pharmaceuticals, Inc. *		2,764		6,717
LifeStance Health Group, Inc. *		274		2,036
Ligand Pharmaceuticals, Inc. *		142		10,446
Liquidia Corp. *		2,122		14,663
LivaNova PLC *		2,941		128,169
Local Bounti Corp. *		3,687		2,939
Madrigal Pharmaceuticals, Inc. *		917		222,152
MannKind Corp. *		2,244		9,200
MarketWise, Inc. *		361		668
Medifast, Inc.		804		83,351
Medpace Holdings, Inc. *		1,829		343,943

	Shares		Value
MeiraGTx Holdings PLC *		107		$553
Merit Medical Systems, Inc. *		3,466		256,311
MGP Ingredients, Inc.		1,027		99,331
Mineralys Therapeutics, Inc. *		360		5,638
Mirum Pharmaceuticals, Inc. *		1,306		31,370
Mission Produce, Inc. *		324		3,600
ModivCare, Inc. *		289		24,299
Moneylion, Inc. *		548		311
Morphic Holding, Inc. *		1,618		60,902
Nano-X Imaging Ltd. *		217		1,252
NanoString Technologies, Inc. *		2,990		29,601
National Beverage Corp. *		1,735		91,469
National Research Corp.		1,006		43,771
Natural Grocers by Vitamin Cottage, Inc.		703		8,260
Neogen Corp. *		14,366		266,058
Nevro Corp. *		2,585		93,448
NGM Biopharmaceuticals, Inc. *		2,051		8,368
NuVasive, Inc. *		3,718		153,591
Ocugen, Inc. *		15,526		13,245
Ocular Therapeutix, Inc. *		5,441		28,674
OmniAb, Inc. *		524		1,928
Omnicell, Inc. *		3,205		188,037
Oncology Institute, Inc. *		2,011		1,363
Option Care Health, Inc. *		12,043		382,606
Organogenesis Holdings, Inc. *		5,039		10,733
OrthoPediatrics Corp. *		1,088		48,188
Outlook Therapeutics, Inc. *		10,920		11,903
Owens & Minor, Inc. *		683		9,938
Owlet, Inc. *		8,438		2,737
P3 Health Partners, Inc. *		793		841
Pacira BioSciences, Inc. *		3,273		133,571
Paragon 28, Inc. *		3,607		61,571
Patterson Cos., Inc.		4,924		131,815
Payoneer Global, Inc. *		15,636		98,194
Pennant Group, Inc. *		1,835		26,204
PepGen, Inc. *		170		2,079
PetIQ, Inc. *		1,530		17,503
Phathom Pharmaceuticals, Inc. *		1,770		12,638
Phibro Animal Health Corp. Class A		1,357		20,789
Point Biopharma Global, Inc. SPAC *		6,107		44,398
Praxis Precision Medicines, Inc. *		245		198
Precigen, Inc. *		7,310		7,749
Prime Medicine, Inc. *		285		3,506
Priority Technology Holdings, Inc. *		1,041		3,737
PROCEPT BioRobotics Corp. *		1,924		54,642
PROG Holdings, Inc. *		570		13,560
Progyny, Inc. *		5,445		174,893
Prometheus Biosciences, Inc. *		2,507		269,051
Prothena Corp. PLC *		2,828		137,073
Provention Bio, Inc. *		3,932		94,761
PTC Therapeutics, Inc. *		3,826		185,331
Pulmonx Corp. *		2,433		27,201
Quanterix Corp. *		259		2,919
R1 RCM, Inc. *		10,861		162,915
RadNet, Inc. *		3,646		91,259
Rallybio Corp. *		1,378		7,868
RAPT Therapeutics, Inc. *		1,459		26,773
Reata Pharmaceuticals, Inc. Class A *		1,667		151,564
Recursion Pharmaceuticals, Inc. Class A *		1,045		6,970
Relay Therapeutics, Inc. *		545		8,976
Relmada Therapeutics, Inc. *		1,166		2,635
Remitly Global, Inc. *		7,254		122,955
Rent the Runway, Inc. Class A *		3,516		10,021
Revance Therapeutics, Inc. *		5,817		187,366
REVOLUTION Medicines, Inc. *		887		19,212
Rigel Pharmaceuticals, Inc. *		12,239		16,155
RxSight, Inc. *		1,579		26,338
Sabre Corp. *		4,940		21,193
Sangamo Therapeutics, Inc. *		385		678
Science 37 Holdings, Inc. *		3,229		909
Scilex Holding Co. *		509		4,174
Select Medical Holdings Corp.		6,372		164,716

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

259

PACIFIC SELECT FUND

PD SMALL-CAP GROWTH INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Senseonics Holdings, Inc. *		33,720		$23,941
Seres Therapeutics, Inc. *		5,007		28,390
Shockwave Medical, Inc. *		2,565		556,169
ShotSpotter, Inc. *		639		25,125
SI-BONE, Inc. *		2,416		47,523
SIGA Technologies, Inc.		3,369		19,372
Silk Road Medical, Inc. *		2,725		106,629
Simply Good Foods Co. *		6,400		254,528
SomaLogic, Inc. *		1,090		2,780
SP Plus Corp. *		1,453		49,823
SpringWorks Therapeutics, Inc. *		505		12,999
Sprouts Farmers Market, Inc. *		7,635		267,454
STAAR Surgical Co. *		3,455		220,947
Sterling Check Corp. *		1,588		17,706
StoneCo Ltd. Class A *		10,520		100,361
Stride, Inc. *		3,050		119,712
SunOpta, Inc. *		6,468		49,804
Surgery Partners, Inc. *		3,318		114,371
Surmodics, Inc. *		1,001		22,803
Syndax Pharmaceuticals, Inc. *		1,000		21,120
Tactile Systems Technology, Inc. *		543		8,916
Target Hospitality Corp. *		2,062		27,095
Tattooed Chef, Inc. *		2,711		3,850
Tenon Medical, Inc. *		333		589
Textainer Group Holdings Ltd.		437		14,032
TG Therapeutics, Inc. *		9,621		144,700
Theravance Biopharma, Inc. *		4,118		44,680
Third Harmonic Bio, Inc. *		305		1,257
Thorne HealthTech, Inc. *		1,329		6,140
Tootsie Roll Industries, Inc.		1,000		44,909
Transcat, Inc. *		509		45,500
TransMedics Group, Inc. *		2,198		166,455
Travere Therapeutics, Inc. *		3,996		89,870
Treace Medical Concepts, Inc. *		2,714		68,366
TriNet Group, Inc. *		2,701		217,728
Turning Point Brands, Inc.		1,067		22,407
Twist Bioscience Corp. *		2,814		42,435
Udemy, Inc. *		5,191		45,837
UFP Technologies, Inc. *		508		65,959
United Natural Foods, Inc. *		342		9,012
Universal Technical Institute, Inc. *		2,278		16,812
Upbound Group, Inc.		3,650		89,461
US Physical Therapy, Inc.		943		92,329
USANA Health Sciences, Inc. *		822		51,704
Utah Medical Products, Inc.		228		21,608
Utz Brands, Inc.		4,062		66,901
Vaxart, Inc. *		1,463		1,107
Vaxcyte, Inc. *		5,167		193,659
Vector Group Ltd.		1,464		17,583
Ventyx Biosciences, Inc. *		1,830		61,305
Vera Therapeutics, Inc. *		1,399		10,856
Vericel Corp. *		3,438		100,802
Veru, Inc. *		5,117		5,936
Verve Therapeutics, Inc. *		541		7,801
Vicarious Surgical, Inc. *		4,135		9,386
ViewRay, Inc. *		9,376		32,441
Vintage Wine Estates, Inc. *		279		299
Viridian Therapeutics, Inc. *		2,070		52,661
VistaGen Therapeutics, Inc. *		9,695		1,209
Vita Coco Co., Inc. *		1,971		38,671
Vital Farms, Inc. *		2,134		32,650
WD-40 Co.		990		176,269
Wejo Group Ltd. *		3,045		1,501
Willdan Group, Inc. *		63		984
Xeris Biopharma Holdings, Inc. *		9,498		15,482
Y-mAbs Therapeutics, Inc. *		2,887		14,464
Zentalis Pharmaceuticals, Inc. *		3,177		54,644
ZipRecruiter, Inc. Class A *		5,362		85,470
Zynex, Inc. *		1,518		18,216
				25,858,931

	Shares		Value
Energy - 7.2%
Alpha Metallurgical Resources, Inc.		1,100		$171,600
Amplify Energy Corp. *		1,952		13,410
Arch Resources, Inc.		1,076		141,451
Aris Water Solution, Inc. Class A		1,596		12,433
Array Technologies, Inc. *		10,866		237,748
Battalion Oil Corp. *		144		946
Berry Corp.		1,119		8,784
Borr Drilling Ltd. *		6,900		52,302
Callon Petroleum Co. *		3,008		100,588
ChampionX Corp.		14,431		391,513
Chord Energy Corp.		1,778		239,319
CNX Resources Corp. *		722		11,566
Comstock Resources, Inc.		6,758		72,919
CONSOL Energy, Inc.		2,346		136,701
Crescent Energy Co. Class A		2,913		32,946
CVR Energy, Inc.		2,116		69,363
Delek US Holdings, Inc.		5,003		114,819
Denbury, Inc. *		3,611		316,432
DMC Global, Inc. *		393		8,634
Earthstone Energy, Inc. Class A *		3,109		40,448
Empire Petroleum Corp. *		796		9,878
Energy Vault Holdings, Inc. *		5,923		12,675
Equitrans Midstream Corp.		7,057		40,789
Fluence Energy, Inc. *		2,770		56,093
FuelCell Energy, Inc. *		21,137		60,240
Golar LNG Ltd. *		401		8,662
Gulfport Energy Corp. *		784		62,720
Heliogen, Inc. *		5,222		1,254
HighPeak Energy, Inc.		511		11,753
Kinetik Holdings, Inc.		101		3,161
Kosmos Energy Ltd. *		32,534		242,053
Liberty Energy, Inc.		9,737		124,731
Magnolia Oil & Gas Corp. Class A		12,622		276,169
Matador Resources Co.		8,111		386,489
Montauk Renewables, Inc. *		4,876		38,374
Murphy Oil Corp.		4,682		173,140
Nabors Industries Ltd. *		566		69,001
NextDecade Corp. *		2,347		11,665
NexTier Oilfield Solutions, Inc. *		12,792		101,696
Noble Corp. PLC *		1,084		42,785
Northern Oil & Gas, Inc.		4,073		123,616
Oceaneering International, Inc. *		6,594		116,252
Par Pacific Holdings, Inc. *		3,583		104,624
Patterson-UTI Energy, Inc.		10,314		120,674
PBF Energy, Inc. Class A		1,968		85,333
Permian Resources Corp.		2,169		22,775
ProFrac Holding Corp. Class A *		786		9,959
Ramaco Resources, Inc.		1,624		14,307
Ranger Oil Corp. Class A		1,371		55,992
Riley Exploration Permian, Inc.		477		18,155
Ring Energy, Inc. *		2,246		4,267
RPC, Inc.		5,276		40,572
SandRidge Energy, Inc. *		1,688		24,324
Shoals Technologies Group, Inc. Class A *		11,726		267,236
SilverBow Resources, Inc. *		840		19,194
Sitio Royalties Corp. Class A		5,174		116,932
SM Energy Co.		8,728		245,781
Solaris Oilfield Infrastructure, Inc. Class A		2,230		19,044
Stem, Inc. *		9,765		55,368
SunPower Corp. *		6,049		83,718
Talos Energy, Inc. *		5,041		74,808
Tellurian, Inc. *		36,525		44,926
TETRA Technologies, Inc. *		7,141		18,924
TPI Composites, Inc. *		2,619		34,178
US Silica Holdings, Inc. *		794		9,480
VAALCO Energy, Inc.		7,527		34,097
Valaris Ltd. *		4,390		285,613
Vertex Energy, Inc. *		3,399		33,582
Vital Energy, Inc. *		1,185		53,965
W&T Offshore, Inc. *		5,582		28,357

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

260

PACIFIC SELECT FUND

PD SMALL-CAP GROWTH INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Warrior Met Coal, Inc.		398		$14,611
Weatherford International PLC *		5,093		302,270
				6,390,184
Financial - 7.4%
Alexander’s, Inc. REIT		173		33,519
Applied Digital Corp. *		2,594		5,811
Artisan Partners Asset Management, Inc. Class A		2,845		90,983
Associated Capital Group, Inc. Class A		16		591
Atlanticus Holdings Corp. *		159		4,314
Avantax, Inc. *		3,524		92,752
Axos Financial, Inc. *		321		11,851
B Riley Financial, Inc.		1,495		42,443
BancFirst Corp.		867		72,048
Bancorp, Inc. *		1,786		49,740
Bank of NT Butterfield & Son Ltd.		291		7,857
BayCom Corp.		213		3,638
Bluerock Homes Trust, Inc. REIT *		73		1,447
Bridgewater Bancshares, Inc. *		561		6,081
Brightsphere Investment Group, Inc.		2,163		51,004
Brookfield Business Corp. Class A		1,649		32,683
BRP Group, Inc. Class A *		4,458		113,501
Cadence Bank		584		12,124
CareTrust REIT, Inc.		757		14,822
CBL & Associates Properties, Inc. REIT		385		9,871
Clipper Realty, Inc. REIT		1,151		6,607
Coastal Financial Corp. *		787		28,340
Cohen & Steers, Inc.		1,824		116,663
Columbia Financial, Inc. *		957		17,494
Community Healthcare Trust, Inc. REIT		1,105		40,443
Compass, Inc. Class A *		19,800		63,954
Corporate Office Properties Trust REIT		1,115		26,437
Cryptyde, Inc. *		608		51
Curo Group Holdings Corp.		935		1,618
Cushman & Wakefield PLC *		9,169		96,641
Diamond Hill Investment Group, Inc.		214		35,220
Doma Holdings, Inc. *		1,268		517
Douglas Elliman, Inc.		407		1,266
Eastern Bankshares, Inc.		2,471		31,184
eHealth, Inc. *		434		4,062
Esquire Financial Holdings, Inc.		470		18,377
Essential Properties Realty Trust, Inc. REIT		1,076		26,739
eXp World Holdings, Inc.		5,043		63,996
Farmers & Merchants Bancorp, Inc.		359		8,731
Federated Hermes, Inc.		6,173		247,784
First BanCorp		567		6,475
First Financial Bankshares, Inc.		9,411		300,211
First Guaranty Bancshares, Inc.		32		501
Five Star Bancorp		401		8,557
Focus Financial Partners, Inc. Class A *		4,192		217,439
Four Corners Property Trust, Inc. REIT		700		18,802
FVCBankcorp, Inc. *		320		3,408
GCM Grosvenor, Inc. Class A		2,634		20,572
Glacier Bancorp, Inc.		1,127		47,345
Gladstone Commercial Corp. REIT		2,749		34,720
Gladstone Land Corp. REIT		1,326		22,078
Goosehead Insurance, Inc. Class A *		1,192		62,222
Greene County Bancorp, Inc.		498		11,295
Hamilton Lane, Inc. Class A		2,611		193,162
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT		440		12,584
HCI Group, Inc.		452		24,227
Hersha Hospitality Trust REIT		497		3,340
Hingham Institution For Savings		19		4,435
HomeTrust Bancshares, Inc.		319		7,844
Houlihan Lokey, Inc.		3,661		320,301
Industrial Logistics Properties Trust REIT		198		608
Innovative Industrial Properties, Inc. REIT		1,972		149,852
International Money Express, Inc. *		2,319		59,784
Investors Title Co.		16		2,416
iStar, Inc. REIT *		1,241		36,448

	Shares		Value
Kinsale Capital Group, Inc.		1,560		$468,234
Lakeland Financial Corp.		1,469		92,018
LendingClub Corp. *		302		2,177
LendingTree, Inc. *		745		19,862
Live Oak Bancshares, Inc.		1,910		46,547
Marcus & Millichap, Inc.		1,908		61,266
McGrath RentCorp		1,740		162,359
Metrocity Bankshares, Inc.		434		7,417
Metropolitan Bank Holding Corp. *		111		3,762
Moelis & Co. Class A		2,316		89,027
NerdWallet, Inc. Class A *		1,848		29,901
Newmark Group, Inc. Class A		979		6,931
NexPoint Residential Trust, Inc. REIT		1,588		69,348
Nicolet Bankshares, Inc. *		142		8,953
NMI Holdings, Inc. Class A *		457		10,205
Offerpad Solutions, Inc. *		3,916		2,064
Outfront Media, Inc. REIT		9,910		160,839
Palomar Holdings, Inc. *		1,779		98,201
Pathward Financial, Inc.		415		17,218
PennyMac Mortgage Investment Trust REIT		1,122		13,834
Perella Weinberg Partners		2,459		22,377
Phillips Edison & Co., Inc. REIT		8,452		275,704
PJT Partners, Inc. Class A		1,725		124,528
Postal Realty Trust, Inc. Class A REIT		999		15,205
PotlatchDeltic Corp. REIT		611		30,245
Redfin Corp. *		7,625		69,083
RLI Corp.		2,815		374,142
RMR Group, Inc. Class A		835		21,910
Saul Centers, Inc. REIT		864		33,696
Sculptor Capital Management, Inc.		996		8,576
ServisFirst Bancshares, Inc.		3,615		197,487
Silvercrest Asset Management Group, Inc. Class A		691		12,562
SiriusPoint Ltd. *		433		3,520
Skyward Specialty Insurance Group, Inc. *		182		3,980
St. Joe Co.		2,500		104,025
StepStone Group, Inc. Class A		4,042		98,099
Stock Yards Bancorp, Inc.		1,788		98,590
StoneX Group, Inc. *		123		12,734
Tanger Factory Outlet Centers, Inc. REIT		7,343		144,143
Third Coast Bancshares, Inc. *		51		801
Triumph Financial, Inc. *		496		28,798
Trupanion, Inc. *		2,826		121,207
UMH Properties, Inc. REIT		3,361		49,709
Universal Health Realty Income Trust REIT		994		47,821
Universal Insurance Holdings, Inc.		268		4,883
Veritex Holdings, Inc.		399		7,286
Victory Capital Holdings, Inc. Class A		372		10,888
Virtus Investment Partners, Inc.		44		8,377
Walker & Dunlop, Inc.		1,548		117,911
West BanCorp, Inc.		382		6,979
Westamerica BanCorp		431		19,093
WisdomTree, Inc.		7,815		45,796
World Acceptance Corp. *		196		16,325
				6,568,473
Industrial - 16.0%
908 Devices, Inc. *		289		2,485
AAON, Inc.		3,160		305,540
Advanced Energy Industries, Inc.		2,707		265,286
Aerojet Rocketdyne Holdings, Inc. *		4,306		241,868
AeroVironment, Inc. *		1,752		160,588
AEye, Inc. *		5,842		1,839
Air Transport Services Group, Inc. *		1,585		33,016
Akoustis Technologies, Inc. *		4,521		13,925
Alamo Group, Inc.		623		114,732
Albany International Corp. Class A		440		39,318
Allied Motion Technologies, Inc.		873		33,741
American Woodmark Corp. *		54		2,812
Apogee Enterprises, Inc.		1,589		68,724
Applied Industrial Technologies, Inc.		2,758		391,995
ArcBest Corp.		584		53,973

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

261

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Atkore, Inc. *		2,839		$398,823
Atlas Technical Consultants, Inc. *		939		11,446
Babcock & Wilcox Enterprises, Inc. *		4,326		26,216
Badger Meter, Inc.		2,108		256,797
Belden, Inc.		1,644		142,650
Berkshire Grey, Inc. *		5,026		6,936
Blink Charging Co. *		3,042		26,313
Bloom Energy Corp. Class A *		12,962		258,333
Boise Cascade Co.		595		37,634
Brady Corp. Class A		2,514		135,077
Cactus, Inc. Class A		4,528		186,689
Cadre Holdings, Inc.		1,372		29,553
Casella Waste Systems, Inc. Class A *		3,598		297,411
Charge Enterprises, Inc. *		9,673		10,640
Chart Industries, Inc. *		3,075		385,605
Chase Corp.		144		15,081
CIRCOR International, Inc. *		402		12,510
Comfort Systems USA, Inc.		2,554		372,782
Construction Partners, Inc. Class A *		2,934		79,042
CryoPort, Inc. *		2,678		64,272
CSW Industrials, Inc.		1,061		147,405
CTS Corp.		2,324		114,945
Daseke, Inc. *		2,829		21,868
Dycom Industries, Inc. *		2,081		194,886
EMCOR Group, Inc.		3,403		553,294
Energizer Holdings, Inc.		5,117		177,560
Energy Recovery, Inc. *		4,019		92,638
Enerpac Tool Group Corp.		4,155		105,952
EnerSys		359		31,190
Enovix Corp. *		7,959		118,669
ESCO Technologies, Inc.		179		17,086
ESS Tech, Inc. *		6,581		9,148
Evoqua Water Technologies Corp. *		8,476		421,427
Exponent, Inc.		3,664		365,264
Fabrinet *		2,661		316,020
FARO Technologies, Inc. *		79		1,944
Federal Signal Corp.		4,304		233,320
Fluor Corp. *		9,364		289,441
Forward Air Corp.		1,938		208,839
Franklin Electric Co., Inc.		3,322		312,600
GATX Corp.		151		16,613
Gorman-Rupp Co.		354		8,850
GrafTech International Ltd.		13,837		67,248
Great Lakes Dredge & Dock Corp. *		1,396		7,580
Greif, Inc. Class A		326		20,659
Greif, Inc. Class B		51		3,903
Griffon Corp.		1,579		50,544
Helios Technologies, Inc.		2,348		153,559
Hillenbrand, Inc.		2,517		119,633
Identiv, Inc. *		1,682		10,327
IES Holdings, Inc. *		407		17,538
Insteel Industries, Inc.		1,329		36,973
Itron, Inc. *		293		16,247
Janus International Group, Inc. *		6,026		59,416
JELD-WEN Holding, Inc. *		2,222		28,131
Joby Aviation, Inc. *		16,710		72,521
John Bean Technologies Corp.		2,279		249,072
Kadant, Inc.		839		174,948
Karat Packaging, Inc.		354		4,719
Latham Group, Inc. *		3,248		9,289
Li-Cycle Holdings Corp. *		3,740		21,056
Lindsay Corp.		782		118,184
LSB Industries, Inc. *		5,487		56,681
Luxfer Holdings PLC		934		15,785
Marten Transport Ltd.		3,210		67,249
Masonite International Corp. *		1,615		146,594
Materion Corp.		1,384		160,544
Mesa Laboratories, Inc.		366		63,951
MicroVision, Inc. *		11,857		31,658
Momentus, Inc. *		1,113		651
Montrose Environmental Group, Inc. *		2,029		72,374
Moog, Inc. Class A		340		34,255

	Shares		Value
Mueller Industries, Inc.		1,459		$ 107,207
Mueller Water Products, Inc. Class A		11,284		157,299
Myers Industries, Inc.		2,615		56,039
MYR Group, Inc. *		1,185		149,322
Napco Security Technologies, Inc. *		2,315		86,998
NEXTracker, Inc. Class A *		1,936		70,199
Northwest Pipe Co. *		193		6,027
Novanta, Inc. *		2,560		407,270
NV5 Global, Inc. *		991		103,034
O-I Glass, Inc. *		8,994		204,254
Omega Flex, Inc.		233		25,966
OSI Systems, Inc. *		144		14,740
PAM Transportation Services, Inc. *		468		13,399
PGT Innovations, Inc. *		4,217		105,889
Plexus Corp. *		1,696		165,479
Primoris Services Corp.		275		6,782
Proto Labs, Inc. *		325		10,774
Pure Cycle Corp. *		1,841		17,397
PureCycle Technologies, Inc. *		6,032		42,224
Radiant Logistics, Inc. *		876		5,747
RBC Bearings, Inc. *		304		70,750
Redwire Corp. *		237		718
Rocket Lab USA, Inc. *		15,436		62,361
Ryerson Holding Corp.		55		2,001
Saia, Inc. *		1,914		520,761
Sarcos Technology & Robotics Corp. *		6,320		3,000
Sight Sciences, Inc. *		116		1,014
Simpson Manufacturing Co., Inc.		3,083		338,020
SmartRent, Inc. *		8,790		22,415
Smith & Wesson Brands, Inc.		175		2,154
Sterling Infrastructure, Inc. *		1,798		68,108
Stoneridge, Inc. *		244		4,563
Sturm Ruger & Co., Inc.		1,109		63,701
Tennant Co.		608		41,666
Terex Corp.		2,375		114,902
Transphorm, Inc. *		1,912		7,629
Trinity Industries, Inc.		892		21,729
Turtle Beach Corp. *		990		9,920
UFP Industries, Inc.		3,775		299,999
Universal Logistics Holdings, Inc.		399		11,631
Vicor Corp. *		1,575		73,930
Watts Water Technologies, Inc. Class A		1,972		331,927
Werner Enterprises, Inc.		562		25,565
Xometry, Inc. Class A *		2,451		36,691
Zurn Elkay Water Solutions Corp.		8,960		191,386
				14,216,487
Technology - 16.2%
8x8, Inc. *		8,082		33,702
ACI Worldwide, Inc. *		8,079		217,971
ACM Research, Inc. Class A *		571		6,681
ACV Auctions, Inc. Class A *		4,265		55,061
Agilysys, Inc. *		1,441		118,897
Alignment Healthcare, Inc. *		7,000		44,520
Alkami Technology, Inc. *		2,616		33,119
Alpha & Omega Semiconductor Ltd. *		1,260		33,957
Altair Engineering, Inc. Class A *		3,745		270,052
Ambarella, Inc. *		2,676		207,176
American Software, Inc. Class A		1,750		22,067
Amkor Technology, Inc.		1,495		38,900
Amplitude, Inc. Class A *		4,026		50,083
Apollo Medical Holdings, Inc. *		2,834		103,356
Appfolio, Inc. Class A *		1,420		176,762
Appian Corp. Class A *		2,914		129,323
Arteris, Inc. *		1,527		6,459
Asana, Inc. Class A *		5,355		113,151
Atomera, Inc. *		1,611		10,262
AvePoint, Inc. *		9,412		38,777
Avid Technology, Inc. *		1,577		50,432
AvidXchange Holdings, Inc. *		9,346		72,899
Axcelis Technologies, Inc. *		2,354		313,670

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

262

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Bandwidth, Inc. Class A *		419		$6,369
BigCommerce Holdings, Inc. *		4,670		41,750
Blackbaud, Inc. *		3,189		220,998
Blackline, Inc. *		3,980		267,257
Box, Inc. Class A *		10,075		269,909
Brightcove, Inc. *		2,147		9,554
C3.ai, Inc. Class A *		808		27,125
Cantaloupe, Inc. *		2,447		13,948
Cerberus Cyber Sentinel Corp. *		2,620		886
CEVA, Inc. *		1,708		51,974
Clear Secure, Inc. Class A		4,696		122,894
CommVault Systems, Inc. *		3,234		183,497
Consensus Cloud Solutions, Inc. *		653		22,261
Corsair Gaming, Inc. *		1,656		30,388
CS Disco, Inc. *		1,683		11,175
CSG Systems International, Inc.		2,233		119,912
Diebold Nixdorf, Inc. *		4,218		5,062
Digi International, Inc. *		860		28,965
Digimarc Corp. *		926		18,196
Digital Turbine, Inc. *		6,705		82,874
DigitalOcean Holdings, Inc. *		5,033		197,143
Diodes, Inc. *		2,333		216,409
Domo, Inc. Class B *		2,250		31,927
Donnelley Financial Solutions, Inc. *		103		4,209
Duolingo, Inc. *		1,733		247,108
Ebix, Inc.		493		6,503
eGain Corp. *		571		4,334
Enfusion, Inc. Class A *		1,921		20,171
EngageSmart, Inc. *		2,547		49,030
Envestnet, Inc. *		3,044		178,591
Everbridge, Inc. *		2,935		101,756
EverCommerce, Inc. *		179		1,894
Evolent Health, Inc. Class A *		5,906		191,650
ExlService Holdings, Inc. *		2,333		377,549
Faraday Future Intelligent Electric, Inc. *		20,165		7,140
ForgeRock, Inc. Class A *		2,252		46,391
FormFactor, Inc. *		5,594		178,169
Grid Dynamics Holdings, Inc. *		3,810		43,663
HireRight Holdings Corp. *		1,507		15,989
IBEX Holdings Ltd. *		636		15,518
Impinj, Inc. *		1,404		190,270
Insight Enterprises, Inc. *		1,918		274,197
Inspired Entertainment, Inc. *		1,057		13,519
Instructure Holdings, Inc. *		232		6,009
Intapp, Inc. *		1,034		46,365
Integral Ad Science Holding Corp. *		952		13,585
IonQ, Inc. *		1,412		8,684
IronNet, Inc. *		4,043		1,422
Kulicke & Soffa Industries, Inc.		4,055		213,658
LivePerson, Inc. *		5,024		22,156
MACOM Technology Solutions Holdings, Inc. Class H *		3,928		278,260
Markforged Holding Corp. *		829		795
Matterport, Inc. *		11,721		31,998
Maximus, Inc.		4,120		324,244
MaxLinear, Inc. *		5,298		186,543
MeridianLink, Inc. *		1,650		28,545
MicroStrategy, Inc. Class A *		417		121,897
Mitek Systems, Inc. *		2,911		27,916
Model N, Inc. *		2,755		92,210
Momentive Global, Inc. *		9,605		89,519
N-Able, Inc. *		4,246		56,047
NextGen Healthcare, Inc. *		1,935		33,688
NextNav, Inc. *		5,006		10,162
Nutex Health, Inc. *		17,944		18,123
OneSpan, Inc. *		1,013		17,728
Onto Innovation, Inc. *		3,573		313,995
Outset Medical, Inc. *		3,573		65,743
PagerDuty, Inc. *		6,235		218,100
PAR Technology Corp. *		713		24,213
PDF Solutions, Inc. *		2,161		91,626
Pear Therapeutics, Inc. *		1,633		416

	Shares		Value
Photronics, Inc. *		3,146		$ 52,161
Phreesia, Inc. *		1,689		54,538
Pitney Bowes, Inc.		6,619		25,748
Playstudios, Inc. *		2,932		10,819
Power Integrations, Inc.		4,108		347,701
PowerSchool Holdings, Inc. Class A *		1,139		22,575
Privia Health Group, Inc. *		3,757		103,731
Progress Software Corp.		3,120		179,244
PROS Holdings, Inc. *		1,919		52,581
PubMatic, Inc. Class A *		2,819		38,959
Qualys, Inc. *		2,779		361,326
Rambus, Inc. *		6,469		331,601
Rapid7, Inc. *		4,267		195,898
Red Violet, Inc. *		703		12,373
Rimini Street, Inc. *		3,497		14,408
Sapiens International Corp. NV		1,701		36,946
Schrodinger, Inc. *		3,948		103,951
Semtech Corp. *		4,495		108,509
Silicon Laboratories, Inc. *		2,281		399,380
Simulations Plus, Inc.		1,116		49,037
SiTime Corp. *		1,174		166,978
SkyWater Technology, Inc. *		847		9,639
SMART Global Holdings, Inc. *		3,517		60,633
Sprout Social, Inc. Class A *		3,371		205,226
SPS Commerce, Inc. *		2,613		397,960
Sumo Logic, Inc. *		5,445		65,231
Super Micro Computer, Inc. *		3,381		360,246
Synaptics, Inc. *		2,865		318,445
Telos Corp. *		3,937		9,961
Tenable Holdings, Inc. *		8,059		382,883
TTEC Holdings, Inc.		1,356		50,484
Ultra Clean Holdings, Inc. *		1,146		38,001
Unisys Corp. *		3,549		13,770
Varonis Systems, Inc. *		7,721		200,823
Veeco Instruments, Inc. *		3,001		63,411
Velo3D, Inc. *		4,248		9,643
Verint Systems, Inc. *		4,277		159,275
Veritone, Inc. *		2,301		13,415
Verra Mobility Corp. *		10,104		170,960
Viant Technology, Inc. Class A *		851		3,702
Vimeo, Inc. *		8,213		31,456
Vuzix Corp. *		3,726		15,426
Weave Communications, Inc. *		2,334		11,600
WM Technology, Inc. *		6,652		5,649
Workiva, Inc. *		3,435		351,778
Yext, Inc. *		8,287		79,638
Zeta Global Holdings Corp. Class A *		8,146		88,221
Zuora, Inc. Class A *		9,264		91,528
				14,316,516
Utilities - 1.6%
Altus Power, Inc. *		2,540		13,919
Ameresco, Inc. Class A *		2,332		114,781
American States Water Co.		1,248		110,935
Artesian Resources Corp. Class A		463		25,632
Brookfield Infrastructure Corp. Class A		7,049		324,677
California Water Service Group		1,002		58,316
Clearway Energy, Inc. Class A		2,612		78,438
Clearway Energy, Inc. Class C		5,959		186,696
FTC Solar, Inc. *		3,462		7,790
Global Water Resources, Inc.		1,295		16,097
MGE Energy, Inc.		1,158		89,942
Middlesex Water Co.		383		29,920
New Jersey Resources Corp.		627		33,356
Ormat Technologies, Inc.		2,106		178,526
Otter Tail Corp.		1,362		98,432
Southwest Gas Holdings, Inc. *		501		31,287
Via Renewables, Inc. *		320		5,874

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

263

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PD SMALL-CAP GROWTH INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
York Water Co.		1,099		$49,125
				1,453,743
Total Common Stocks (Cost $95,898,117)				87,102,780
EXCHANGE-TRADED FUND - 1.3%
iShares Russell 2000 Growth		4,978		1,129,110
Total Exchange-Traded Fund (Cost $1,091,383)				1,129,110
	Principal Amount
SHORT-TERM INVESTMENT - 0.4%
Repurchase Agreement - 0.4%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $398,294; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $406,136)		$398,147		398,147
Total Short-Term Investment (Cost $398,147)				398,147
TOTAL INVESTMENTS - 100.0% (Cost $97,387,715)				88,631,995
DERIVATIVES - 0.0%				16,571
OTHER ASSETS & LIABILITIES, NET - (0.0%)				(5,476	)
NET ASSETS - 100.0%				$88,643,090

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $1,958 or less than 0.1% of the Fund’s net assets were valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or the Board of Trustees.

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

264

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PD SMALL-CAP GROWTH INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(b) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration     Month	Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Micro Russell 2000 E-Mini Index	06/23		47		$409,602		$426,173		$16,571

(c) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Rights		$1,958		$-		$-		$1,958
	Common Stocks
	Basic Materials		3,743,190		3,743,190		-		-
	Communications		3,955,511		3,955,511		-		-
	Consumer, Cyclical		10,599,745		10,599,745		-		-
	Consumer, Non-Cyclical		25,858,931		25,854,757		4,174		-
	Energy		6,390,184		6,390,184		-		-
	Financial		6,568,473		6,568,473		-		-
	Industrial		14,216,487		14,216,487		-		-
	Technology		14,316,516		14,316,516		-		-
	Utilities		1,453,743		1,453,743		-		-
	Total Common Stocks		87,102,780		87,098,606		4,174		-
	Exchange-Traded Fund		1,129,110		1,129,110		-		-
	Short-Term Investment		398,147		-		398,147		-
	Derivatives:
	Equity Contracts
	Futures		16,571		16,571		-		-
	Total		$88,648,566		$88,244,287		$402,321		$1,958

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

265

PACIFIC SELECT FUND

PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
RIGHTS - 0.0%
Basic Materials - 0.0%
PolyMet Mining Corp. Exp 04/10/23 *		3,342		$9
Consumer, Non-Cyclical - 0.0%
Contra Aduro Biotechnologies, Inc. - Contingent Value Rights * W ±		123		312
OmniAb, Inc. $12.50 - Earn Out Shares * W ±		588		-
OmniAb, Inc. $15.00 - Earn Out Shares * W ±		588		-
				312
Total Rights (Cost $0)				321
COMMON STOCKS - 96.2%
Basic Materials - 3.1%
AdvanSix, Inc.		1,321		50,555
American Vanguard Corp.		264		5,776
Amyris, Inc. *		13,520		18,387
Arconic Corp. *		7,985		209,447
Avient Corp.		1,870		76,969
AZZ, Inc.		1,898		78,273
Carpenter Technology Corp.		3,656		163,643
Coeur Mining, Inc. *		21,670		86,463
Commercial Metals Co.		7,422		362,936
Constellium SE *		4,604		70,349
Danimer Scientific, Inc. *		6,804		23,474
Ecovyst, Inc. *		6,564		72,532
Energy Fuels, Inc. *		2,034		11,350
Glatfelter Corp.		3,303		10,537
Hawkins, Inc.		566		24,779
Haynes International, Inc.		931		46,634
HB Fuller Co.		584		39,975
Hecla Mining Co.		42,328		267,936
Hycroft Mining Holding Corp. *		2,208		955
Innospec, Inc.		283		29,056
Intrepid Potash, Inc. *		832		22,963
Ivanhoe Electric, Inc. *		1,770		21,505
Koppers Holdings, Inc.		1,600		55,952
Mativ Holdings, Inc.		3,926		84,291
Minerals Technologies, Inc.		2,480		149,842
Novagold Resources, Inc. * (Canada)		1,166		7,253
Origin Materials, Inc. *		3,036		12,964
Perimeter Solutions SA *		9,128		73,754
Piedmont Lithium, Inc. *		985		59,149
PolyMet Mining Corp. * (Canada)		1,275		2,741
Quaker Chemical Corp.		359		71,064
Rayonier Advanced Materials, Inc. *		4,627		29,011
Schnitzer Steel Industries, Inc. Class A		1,835		57,068
Sensient Technologies Corp.		168		12,862
Stepan Co.		1,472		151,660
Sylvamo Corp.		157		7,263
Terawulf, Inc. *		2,353		2,207
Trinseo PLC		2,749		57,317
Tronox Holdings PLC		8,954		128,758
Unifi, Inc. *		1,069		8,734
Ur-Energy, Inc. *		2,705		2,867
US Lime & Minerals, Inc.		31		4,733
Valhi, Inc.		160		2,786
				2,676,770

	Shares		Value
Communications - 3.4%
1-800-Flowers.com, Inc. Class A *		1,940		$22,310
1stdibs.com, Inc. *		1,778		7,059
A10 Networks, Inc.		978		15,149
ADTRAN Holdings, Inc.		535		8,485
Advantage Solutions, Inc. *		6,200		9,796
aka Brands Holding Corp. *		1,032		562
Allbirds, Inc. Class A *		5,308		6,370
AMC Networks, Inc. Class A *		2,261		39,748
Anterix, Inc. *		982		32,445
Arena Group Holdings, Inc. *		317		1,347
ATN International, Inc.		821		33,595
Audacy, Inc. *		13,875		1,869
Aviat Networks, Inc. *		839		28,912
BARK, Inc. *		8,126		11,783
Blade Air Mobility, Inc. *		4,255		14,382
Boston Omaha Corp. Class A *		1,651		39,079
Bumble, Inc. Class A *		7,660		149,753
Calix, Inc. *		965		51,714
Cars.com, Inc. *		4,427		85,441
Clear Channel Outdoor Holdings, Inc. *		27,661		33,193
Cogent Communications Holdings, Inc.		1,501		95,644
Consolidated Communications Holdings, Inc. *		5,017		12,944
ContextLogic, Inc. Class A *		43,214		19,265
Cumulus Media, Inc. Class A *		1,292		4,768
DHI Group, Inc. *		679		2,635
DigitalBridge Group, Inc.		1,211		14,520
EchoStar Corp. Class A *		2,656		48,578
Edgio, Inc. *		1,306		1,033
Entravision Communications Corp. Class A		1,205		7,290
ePlus, Inc. *		455		22,313
Eventbrite, Inc. Class A *		705		6,049
EW Scripps Co. Class A *		4,375		41,169
Figs, Inc. Class A *		1,415		8,759
fuboTV, Inc. *		14,053		17,004
Gannett Co., Inc. *		10,791		20,179
Globalstar, Inc. *		8,190		9,500
Gogo, Inc. *		3,578		51,881
Gray Television, Inc.		3,732		32,543
Groupon, Inc. *		1,469		6,185
HealthStream, Inc. *		1,794		48,617
Hims & Hers Health, Inc. *		1,402		13,908
IDT Corp. Class B *		338		11,519
iHeartMedia, Inc. Class A *		9,022		35,186
Innovid Corp. * (Israel)		996		1,404
Inseego Corp. *		8,019		4,670
Inspirato, Inc. *		2,313		2,218
InterDigital, Inc.		1,430		104,247
KORE Group Holdings, Inc. *		3,079		3,756
Lands’ End, Inc. *		1,142		11,100
Liberty Latin America Ltd. Class A *		3,143		26,118
Liberty Latin America Ltd. Class C *		11,265		93,049
Liquidity Services, Inc. *		911		11,998
Magnite, Inc. *		10,178		94,248
Maxar Technologies, Inc.		5,627		287,315
NETGEAR, Inc. *		2,121		39,260
Overstock.com, Inc. *		3,311		67,114
Planet Labs PBC *		2,301		9,043
Preformed Line Products Co.		189		24,200
QuinStreet, Inc. *		3,731		59,211
Quotient Technology, Inc. *		6,009		19,710
RealReal, Inc. *		5,536		6,975
Ribbon Communications, Inc. *		5,430		18,571
Rover Group, Inc. *		484		2,193
RumbleON, Inc. Class B *		786		4,763
Scholastic Corp.		2,261		77,371
Shenandoah Telecommunications Co.		3,764		71,591
Solo Brands, Inc. Class A *		1,658		11,905
Squarespace, Inc. Class A *		1,796		57,059
Stagwell, Inc. *		5,212		38,673
Stitch Fix, Inc. Class A *		3,765		19,239

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

266

PACIFIC SELECT FUND

PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
TEGNA, Inc.		17,047		$288,265
Telephone & Data Systems, Inc.		7,790		81,873
Terran Orbital Corp. *		3,073		5,654
Thryv Holdings, Inc. *		1,430		32,976
TrueCar, Inc. *		6,563		15,095
Urban One, Inc. *		1,877		11,816
US Cellular Corp. *		1,095		22,699
Vacasa, Inc. Class A *		8,723		8,393
Value Line, Inc.		9		435
Vivid Seats, Inc. Class A *		1,427		10,888
WideOpenWest, Inc. *		1,705		18,124
Ziff Davis, Inc. *		2,831		220,960
				3,008,660
Consumer, Cyclical - 12.1%
A-Mark Precious Metals, Inc.		1,378		47,748
Abercrombie & Fitch Co. Class A *		3,737		103,702
Academy Sports & Outdoors, Inc.		5,813		379,298
Acushnet Holdings Corp.		1,841		93,781
Adient PLC *		7,263		297,492
Aeva Technologies, Inc. *		6,817		8,112
Allegiant Travel Co. *		693		63,742
America’s Car-Mart, Inc. *		441		34,932
American Axle & Manufacturing Holdings, Inc. *		8,336		65,104
American Eagle Outfitters, Inc.		11,796		158,538
Asbury Automotive Group, Inc. *		1,203		252,630
Aterian, Inc. *		4,480		3,853
Bally’s Corp. *		2,807		54,793
Beacon Roofing Supply, Inc. *		1,191		70,090
Beazer Homes USA, Inc. *		2,220		35,254
Bed Bath & Beyond, Inc. *		2,583		1,104
Big 5 Sporting Goods Corp.		1,600		12,304
Big Lots, Inc.		2,117		23,202
Biglari Holdings, Inc. Class B *		56		9,475
BJ’s Restaurants, Inc. *		1,782		51,927
Bloomin’ Brands, Inc.		1,870		47,966
Bluegreen Vacations Holding Corp.		623		17,058
BlueLinx Holdings, Inc. *		690		46,892
Bowlero Corp. *		2,211		37,476
Brinker International, Inc. *		331		12,578
Buckle, Inc.		160		5,710
Build-A-Bear Workshop, Inc.		272		6,321
Cato Corp. Class A		1,332		11,775
Cenntro Electric Group Ltd. * (Australia)		13,825		6,384
Century Casinos, Inc. *		415		3,042
Century Communities, Inc.		2,009		128,415
Cepton, Inc. *		845		392
Chico’s FAS, Inc. *		2,552		14,036
Children’s Place, Inc. *		310		12,478
Chuy’s Holdings, Inc. *		1,416		50,764
Cinemark Holdings, Inc. *		1,724		25,498
Citi Trends, Inc. *		575		10,937
Clean Energy Fuels Corp. *		13,251		57,774
CompX International, Inc.		121		2,188
Conn’s, Inc. *		972		5,890
Container Store Group, Inc. *		2,401		8,235
Dana, Inc.		9,877		148,649
Denny’s Corp. *		1,181		13,180
Designer Brands, Inc. Class A		1,007		8,801
Destination XL Group, Inc. *		2,059		11,345
Dine Brands Global, Inc.		137		9,267
Duluth Holdings, Inc. Class B *		468		2,986
El Pollo Loco Holdings, Inc.		1,457		13,973
Ermenegildo Zegna NV (Italy)		3,482		47,494
Ethan Allen Interiors, Inc.		1,698		46,627
Everi Holdings, Inc. *		3,101		53,182
EVgo, Inc. *		4,485		34,938
Express, Inc. *		4,371		3,446
First Watch Restaurant Group, Inc. *		740		11,884
FirstCash, Inc.		1,444		137,714
Foot Locker, Inc.		6,172		244,967

	Shares		Value
Forestar Group, Inc. *		1,024		$ 15,933
Fossil Group, Inc. *		3,528		11,290
Franchise Group, Inc.		107		2,916
Full House Resorts, Inc. *		1,807		13,065
G-III Apparel Group Ltd. *		3,382		52,590
Genesco, Inc. *		903		33,303
Global Industrial Co.		263		7,059
Goodyear Tire & Rubber Co. *		21,468		236,577
Green Brick Partners, Inc. *		1,560		54,694
Group 1 Automotive, Inc.		1,080		244,534
GrowGeneration Corp. *		4,295		14,689
Haverty Furniture Cos., Inc.		1,089		34,750
Hawaiian Holdings, Inc. *		3,781		34,634
Hibbett, Inc.		200		11,796
Hyliion Holdings Corp. *		10,310		20,414
IMAX Corp. *		1,395		26,756
Interface, Inc.		797		6,472
International Game Technology PLC		5,832		156,298
iRobot Corp. *		239		10,430
Jack in the Box, Inc.		1,368		119,823
JOANN, Inc.		1,218		1,937
Johnson Outdoors, Inc. Class A		400		25,204
KAR Auction Services, Inc. *		8,289		113,394
KB Home		4,759		191,217
Kimball International, Inc. Class B		2,678		33,207
La-Z-Boy, Inc.		3,304		96,080
Landsea Homes Corp. *		915		5,545
LGI Homes, Inc. *		1,466		167,168
Life Time Group Holdings, Inc. *		3,299		52,652
Lifetime Brands, Inc.		912		5,363
Light & Wonder, Inc. *		7,226		433,921
Lindblad Expeditions Holdings, Inc. *		2,323		22,208
Lions Gate Entertainment Corp. Class A *		4,577		50,667
Lions Gate Entertainment Corp. Class B *		9,016		93,586
LL Flooring Holdings, Inc. *		2,107		8,007
Lordstown Motors Corp. Class A *		13,226		8,770
M/I Homes, Inc. *		1,767		111,480
Madison Square Garden Entertainment Corp. *		1,999		118,081
Marcus Corp.		1,932		30,912
MarineMax, Inc. *		1,569		45,109
MDC Holdings, Inc.		3,307		128,543
Meritage Homes Corp.		2,595		302,992
Methode Electronics, Inc.		2,717		119,222
Microvast Holdings, Inc. *		5,245		6,504
Miller Industries, Inc.		798		28,209
MillerKnoll, Inc.		5,815		118,917
Motorcar Parts of America, Inc. *		1,422		10,580
Movado Group, Inc.		1,137		32,711
National Vision Holdings, Inc. *		5,659		106,616
Nikola Corp. *		2,503		3,029
Nu Skin Enterprises, Inc. Class A		2,231		87,701
ODP Corp. *		3,062		137,729
OneWater Marine, Inc. Class A *		781		21,845
Oxford Industries, Inc.		346		36,534
Papa John’s International, Inc.		714		53,500
Patrick Industries, Inc.		1,489		102,458
PC Connection, Inc.		842		37,856
PetMed Express, Inc.		257		4,174
PLBY Group, Inc. *		3,350		6,633
PriceSmart, Inc.		747		53,396
Proterra, Inc. *		9,072		13,789
Purple Innovation, Inc. *		4,416		11,658
Qurate Retail, Inc. Class A *		26,196		25,876
RCI Hospitality Holdings, Inc.		43		3,361
Red Rock Resorts, Inc. Class A		2,127		94,800
Reservoir Media, Inc. *		202		1,317
Resideo Technologies, Inc. *		11,064		202,250
REV Group, Inc.		2,474		29,663
Rite Aid Corp. *		2,217		4,966
Rocky Brands, Inc.		489		11,281
Rush Enterprises, Inc. Class A		3,185		173,901
Rush Enterprises, Inc. Class B		530		31,742

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

267

PACIFIC SELECT FUND

PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Sally Beauty Holdings, Inc. *		566		$ 8,818
ScanSource, Inc. *		1,887		57,440
SeaWorld Entertainment, Inc. *		1,519		93,130
Shoe Carnival, Inc.		1,275		32,704
Signet Jewelers Ltd. (NYSE)		3,422		266,163
SkyWest, Inc. *		3,869		85,776
Sleep Number Corp. *		885		26,913
Snap One Holdings Corp. *		1,368		12,791
Solid Power, Inc. *		6,001		18,063
Sonic Automotive, Inc. Class A		1,394		75,750
Sovos Brands, Inc. *		877		14,628
Spirit Airlines, Inc.		8,341		143,215
Sportsman’s Warehouse Holdings, Inc. *		2,785		23,617
Standard Motor Products, Inc.		1,582		58,392
Steelcase, Inc. Class A		6,864		57,795
Superior Group of Cos., Inc.		912		7,177
Taylor Morrison Home Corp. *		7,012		268,279
ThredUp, Inc. Class A *		3,742		9,467
Tile Shop Holdings, Inc. *		2,360		11,068
Tilly’s, Inc. Class A *		1,693		13,053
Titan Machinery, Inc. *		1,599		48,690
Topgolf Callaway Brands Corp. *		10,704		231,420
Torrid Holdings, Inc. *		693		3,021
Traeger, Inc. *		2,493		10,246
TravelCenters of America, Inc. *		974		84,251
Tri Pointe Homes, Inc. *		7,078		179,215
Tupperware Brands Corp. *		3,307		8,268
TuSimple Holdings, Inc. Class A *		10,619		15,610
UniFirst Corp.		1,145		201,783
Universal Electronics, Inc. *		903		9,156
Urban Outfitters, Inc. *		4,886		135,440
Vinco Ventures, Inc. *		11,951		3,840
Virgin Galactic Holdings, Inc. *		10,091		40,869
Vista Outdoor, Inc. *		4,279		118,571
VSE Corp.		798		35,830
Wabash National Corp.		462		11,361
Weyco Group, Inc.		463		11,714
Wheels Up Experience, Inc. *		12,134		7,678
Winmark Corp.		221		70,815
Winnebago Industries, Inc.		2,280		131,556
Workhorse Group, Inc. *		1,324		1,761
World Fuel Services Corp.		4,590		117,274
Xperi, Inc. *		3,124		34,145
Xponential Fitness, Inc. Class A *		1,061		32,244
Zumiez, Inc. *		1,282		23,640
				10,646,264
Consumer, Non-Cyclical - 16.2%
23andMe Holding Co. Class A *		11,120		25,354
2seventy bio, Inc. *		2,794		28,499
2U, Inc. *		6,072		41,593
4D Molecular Therapeutics, Inc. *		2,247		38,626
Aaron’s Co., Inc.		2,261		21,841
AbCellera Biologics, Inc. * (Canada)		9,223		69,541
ABM Industries, Inc.		5,075		228,070
Absci Corp. *		3,947		6,907
ACCO Brands Corp.		6,888		36,644
Accolade, Inc. *		5,188		74,603
Acrivon Therapeutics, Inc. *		354		4,492
AdaptHealth Corp. *		5,591		69,496
Adaptive Biotechnologies Corp. *		8,230		72,671
Addus HomeCare Corp. *		729		77,828
Adicet Bio, Inc. *		2,267		13,058
ADMA Biologics, Inc. *		8,695		28,780
Adtalem Global Education, Inc. *		3,433		132,582
Aerovate Therapeutics, Inc. *		693		13,978
Affimed NV * (Germany)		1,132		844
Agios Pharmaceuticals, Inc. *		4,189		96,221
Akero Therapeutics, Inc. *		2,491		95,306
Alico, Inc.		525		12,705
Alight, Inc. Class A *		29,453		271,262

	Shares		Value
Allogene Therapeutics, Inc. *		5,963		$ 29,457
Allovir, Inc. *		2,327		9,168
Alpha Teknova, Inc. *		552		1,634
Alphatec Holdings, Inc. *		571		8,908
Alpine Immune Sciences, Inc. *		981		7,573
Alta Equipment Group, Inc.		1,270		20,129
ALX Oncology Holdings, Inc. *		1,605		7,255
American Public Education, Inc. *		1,381		7,485
American Well Corp. Class A *		17,215		40,627
Amylyx Pharmaceuticals, Inc. *		3,120		91,541
AN2 Therapeutics, Inc. *		680		6,712
AnaptysBio, Inc. *		1,518		33,032
Andersons, Inc.		2,464		101,812
AngioDynamics, Inc. *		2,787		28,818
ANI Pharmaceuticals, Inc. *		956		37,972
Anika Therapeutics, Inc. *		1,091		31,334
API Group Corp. *		15,830		355,858
AppHarvest, Inc. *		8,750		5,358
Arbutus Biopharma Corp. *		3,927		11,899
Arcellx, Inc. *		2,297		70,771
Arcturus Therapeutics Holdings, Inc. *		251		6,016
Arcus Biosciences, Inc. *		3,991		72,796
Artivion, Inc. *		437		5,725
Atara Biotherapeutics, Inc. *		6,414		18,601
Atea Pharmaceuticals, Inc. *		5,711		19,132
Athira Pharma, Inc. *		2,540		6,350
ATI Physical Therapy, Inc. *		8,414		2,139
AtriCure, Inc. *		1,260		52,227
Avanos Medical, Inc. *		3,560		105,874
Aveanna Healthcare Holdings, Inc. *		3,393		3,529
Avidity Biosciences, Inc. *		5,006		76,842
B&G Foods, Inc.		5,463		84,840
Bakkt Holdings, Inc. *		4,370		7,516
Barrett Business Services, Inc.		47		4,166
Beachbody Co., Inc. *		6,512		3,140
Beauty Health Co. *		724		9,144
Benson Hill, Inc. *		6,586		7,574
BioCryst Pharmaceuticals, Inc. *		4,295		35,820
Biohaven Ltd. *		1,791		24,465
BioLife Solutions, Inc. *		2,450		53,287
Bionano Genomics, Inc. *		22,430		24,897
Bioventus, Inc. Class A *		2,147		2,297
Bioxcel Therapeutics, Inc. *		1,431		26,702
Bird Global, Inc. Class A *		20,795		5,821
Bluebird Bio, Inc. *		7,707		24,508
Boxed, Inc. *		6,406		1,216
Bridgebio Pharma, Inc. *		3,185		52,807
Bright Health Group, Inc. *		14,478		3,189
BrightView Holdings, Inc. *		3,060		17,197
Brookdale Senior Living, Inc. *		13,928		41,088
Butterfly Network, Inc. *		9,971		18,745
C4 Therapeutics, Inc. *		3,147		9,882
Cal-Maine Foods, Inc.		223		13,578
Cara Therapeutics, Inc. *		3,351		16,453
Cardiovascular Systems, Inc. *		1,393		27,665
CareMax, Inc. *		4,378		11,689
Caribou Biosciences, Inc. *		4,196		22,281
Cass Information Systems, Inc.		848		36,727
Castle Biosciences, Inc. *		1,840		41,805
Celldex Therapeutics, Inc. *		2,762		99,377
Central Garden & Pet Co. *		485		19,914
Central Garden & Pet Co. Class A *		2,017		78,804
Century Therapeutics, Inc. *		1,501		5,208
Chefs’ Warehouse, Inc. *		751		25,572
Chimerix, Inc. *		1,689		2,128
Chinook Therapeutics, Inc. *		3,906		90,424
Cipher Mining, Inc. *		2,772		6,459
Cogent Biosciences, Inc. *		5,007		54,026
Community Health Systems, Inc. *		9,847		48,250
CompoSecure, Inc. *		106		780
CoreCivic, Inc. *		8,819		81,135
Crinetics Pharmaceuticals, Inc. *		3,532		56,724

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

268

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PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Cross Country Healthcare, Inc. *		2,432		$ 54,282
CTI BioPharma Corp. *		6,029		25,322
Cue Health, Inc. *		8,244		15,004
Cullinan Oncology, Inc. *		1,957		20,020
Custom Truck One Source, Inc. *		3,120		21,185
Cytokinetics, Inc. *		587		20,657
Day One Biopharmaceuticals, Inc. *		2,072		27,703
Deciphera Pharmaceuticals, Inc. *		2,914		45,021
Deluxe Corp.		3,406		54,496
Design Therapeutics, Inc. *		2,535		14,627
DICE Therapeutics, Inc. *		2,735		78,358
Distribution Solutions Group, Inc. *		51		2,318
Dyne Therapeutics, Inc. *		2,373		27,337
Edgewell Personal Care Co.		3,942		167,220
Edgewise Therapeutics, Inc. *		2,850		19,009
Editas Medicine, Inc. *		5,456		39,556
Eiger BioPharmaceuticals, Inc. *		402		361
Embecta Corp.		587		16,506
Emergent BioSolutions, Inc. *		3,766		39,016
Enanta Pharmaceuticals, Inc. *		1,391		56,252
Ennis, Inc.		2,019		42,581
Enochian Biosciences, Inc. *		2,038		1,865
EQRx, Inc. *		15,051		29,199
Erasca, Inc. *		5,396		16,242
European Wax Center, Inc. Class A		205		3,895
EyePoint Pharmaceuticals, Inc. *		1,650		4,851
FibroGen, Inc. *		730		13,622
First Advantage Corp. *		4,237		59,149
Fresh Del Monte Produce, Inc.		2,369		71,331
Fulcrum Therapeutics, Inc. *		3,847		10,964
Fulgent Genetics, Inc. *		1,647		51,419
Gelesis Holdings, Inc. *		1,158		188
GeneDx Holdings Corp. *		25,626		9,353
Generation Bio Co. *		3,612		15,532
GEO Group, Inc. *		9,185		72,470
Geron Corp. *		9,859		21,394
Graham Holdings Co. Class B		282		168,027
Green Dot Corp. Class A *		3,140		53,945
Greenidge Generation Holdings, Inc. *		1,077		487
Hackett Group, Inc.		166		3,068
Hain Celestial Group, Inc. *		6,853		117,529
Healthcare Services Group, Inc.		3,069		42,567
Heidrick & Struggles International, Inc.		1,545		46,906
Herbalife Nutrition Ltd. *		2,605		41,940
HF Foods Group, Inc. *		2,896		11,352
HilleVax, Inc. *		1,064		17,588
Honest Co., Inc. *		4,920		8,856
Hostess Brands, Inc. *		10,213		254,099
Huron Consulting Group, Inc. *		626		50,312
ICF International, Inc.		434		47,610
Icosavax, Inc. *		1,670		9,686
Ideaya Biosciences, Inc. *		3,483		47,822
IGM Biosciences, Inc. *		179		2,459
ImmunityBio, Inc. *		2,149		3,911
ImmunoGen, Inc. *		8,123		31,192
Immunovant, Inc. *		3,486		54,068
Inari Medical, Inc. *		320		19,757
Information Services Group, Inc.		1,439		7,325
Ingles Markets, Inc. Class A		1,095		97,126
Innovage Holding Corp. *		1,302		10,390
Inogen, Inc. *		1,626		20,292
Inotiv, Inc. *		1,342		5,811
Inovio Pharmaceuticals, Inc. *		18,508		15,177
Instil Bio, Inc. *		4,465		2,950
Integer Holdings Corp. *		2,521		195,377
Intellia Therapeutics, Inc. *		2,201		82,031
Invitae Corp. *		18,245		24,631
Invivyd, Inc. *		3,901		4,681
Iovance Biotherapeutics, Inc. *		11,667		71,285
iTeos Therapeutics, Inc. *		1,759		23,940
Janux Therapeutics, Inc. *		1,291		15,621
John B Sanfilippo & Son, Inc.		260		25,199

	Shares		Value
John Wiley & Sons, Inc. Class A		186		$ 7,211
Jounce Therapeutics, Inc. *		3,166		5,857
KalVista Pharmaceuticals, Inc. *		1,831		14,392
Kelly Services, Inc. Class A		2,526		41,906
Keros Therapeutics, Inc. *		60		2,562
Kezar Life Sciences, Inc. *		3,935		12,317
Kiniksa Pharmaceuticals Ltd. Class A *		140		1,506
Kinnate Biopharma, Inc. *		2,207		13,794
Kodiak Sciences, Inc. *		2,498		15,488
Krispy Kreme, Inc.		4,134		64,284
Kronos Bio, Inc. *		3,085		4,504
Krystal Biotech, Inc. *		1,096		87,746
Kura Oncology, Inc. *		5,077		62,092
Kymera Therapeutics, Inc. *		2,909		86,194
Lancaster Colony Corp.		238		48,285
Laureate Education, Inc.		10,286		120,963
Leafly Holdings, Inc. *		1,044		417
Lexicon Pharmaceuticals, Inc. *		3,925		9,538
Lifecore Biomedical, Inc. *		1,990		7,512
LifeStance Health Group, Inc. *		5,059		37,588
Ligand Pharmaceuticals, Inc. *		1,027		75,546
Liquidia Corp. *		1,311		9,059
LivaNova PLC *		1,006		43,841
LiveRamp Holdings, Inc. *		4,882		107,062
Lyell Immunopharma, Inc. *		12,969		30,607
MacroGenics, Inc. *		4,518		32,394
MannKind Corp. *		17,626		72,267
Marathon Digital Holdings, Inc. *		9,057		78,977
MarketWise, Inc. *		1,370		2,534
Matthews International Corp. Class A		2,307		83,190
MaxCyte, Inc. *		6,613		32,734
MeiraGTx Holdings PLC *		2,282		11,798
Merit Medical Systems, Inc. *		587		43,409
Mersana Therapeutics, Inc. *		6,924		28,458
MiMedx Group, Inc. *		8,458		28,842
Mineralys Therapeutics, Inc. *		503		7,877
Mission Produce, Inc. *		2,659		29,541
ModivCare, Inc. *		684		57,511
MoneyGram International, Inc. *		7,237		75,410
Moneylion, Inc. *		10,405		5,908
Monro, Inc.		2,391		118,187
Monte Rosa Therapeutics, Inc. *		2,239		17,442
Morphic Holding, Inc. *		280		10,539
Multiplan Corp. *		28,397		30,101
Myriad Genetics, Inc. *		6,084		141,331
Nano-X Imaging Ltd. *		3,122		18,014
NanoString Technologies, Inc. *		547		5,415
National HealthCare Corp.		982		57,025
Natural Grocers by Vitamin Cottage, Inc.		169		1,986
Nature’s Sunshine Products, Inc. *		1,029		10,506
Nautilus Biotechnology, Inc. SPAC *		3,668		10,160
Nektar Therapeutics *		13,589		9,552
Neogen Corp. *		1,315		24,354
NeoGenomics, Inc. *		9,629		167,641
NGM Biopharmaceuticals, Inc. *		1,199		4,892
Nkarta, Inc. *		2,445		8,680
Nurix Therapeutics, Inc. *		3,476		30,867
Nuvalent, Inc. Class A *		1,590		41,483
Nuvation Bio, Inc. *		8,751		14,527
OmniAb, Inc. *		5,057		18,610
OPKO Health, Inc. *		30,306		44,247
OraSure Technologies, Inc. *		5,379		32,543
Orthofix Medical, Inc. *		2,571		43,064
Oscar Health, Inc. Class A *		9,040		59,122
Owens & Minor, Inc. *		5,078		73,885
P3 Health Partners, Inc. *		1,094		1,160
Pacific Biosciences of California, Inc. *		18,948		219,418
Pardes Biosciences, Inc. *		2,172		2,867
Patterson Cos., Inc.		1,389		37,184
Paysafe Ltd. *		2,106		36,371
Pediatrix Medical Group, Inc. *		6,290		93,784
PepGen, Inc. *		918		11,227

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

269

PACIFIC SELECT FUND

PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Perdoceo Education Corp. *		5,221		$ 70,118
PetIQ, Inc. *		417		4,770
PFSweb, Inc.		1,270		5,385
PhenomeX, Inc. *		4,254		4,935
Phibro Animal Health Corp. Class A		107		1,639
PMV Pharmaceuticals, Inc. *		2,752		13,127
Point Biopharma Global, Inc. SPAC *		336		2,443
Praxis Precision Medicines, Inc. *		4,093		3,311
Precigen, Inc. *		1,853		1,964
Prestige Consumer Healthcare, Inc. *		3,810		238,620
Prime Medicine, Inc. *		451		5,547
Primo Water Corp.		12,056		185,060
PROG Holdings, Inc. *		3,256		77,460
Protagonist Therapeutics, Inc. *		3,592		82,616
Provention Bio, Inc. *		683		16,460
PTC Therapeutics, Inc. *		1,334		64,619
Quad/Graphics, Inc. *		2,440		10,468
Quanex Building Products Corp.		2,606		56,107
Quanterix Corp. *		2,207		24,873
Quantum-Si, Inc. *		6,885		12,118
Rallybio Corp. *		359		2,050
RAPT Therapeutics, Inc. *		685		12,570
Reata Pharmaceuticals, Inc. Class A *		343		31,186
Recursion Pharmaceuticals, Inc. Class A *		9,627		64,212
REGENXBIO, Inc. *		3,128		59,150
Relay Therapeutics, Inc. *		6,011		99,001
Relmada Therapeutics, Inc. *		865		1,955
Repay Holdings Corp. *		6,957		45,707
Replimune Group, Inc. *		3,617		63,876
Resources Connection, Inc.		2,415		41,200
REVOLUTION Medicines, Inc. *		5,701		123,484
Riot Platforms, Inc. *		12,168		121,558
Rocket Pharmaceuticals, Inc. *		4,320		74,002
RxSight, Inc. *		124		2,068
Sabre Corp. *		20,051		86,019
Sage Therapeutics, Inc. *		3,985		167,211
Sana Biotechnology, Inc. *		6,665		21,795
Sangamo Therapeutics, Inc. *		9,427		16,592
Science 37 Holdings, Inc. *		596		168
Scilex Holding Co. *		6,404		52,513
Seer, Inc. *		3,871		14,942
Select Medical Holdings Corp.		1,272		32,881
Seneca Foods Corp. Class A *		384		20,072
Singular Genomics Systems, Inc. *		4,298		5,201
SomaLogic, Inc. *		10,072		25,684
SpartanNash Co.		2,708		67,158
Spire Global, Inc. *		9,436		6,303
SpringWorks Therapeutics, Inc. *		2,254		58,018
Sterling Check Corp. *		210		2,341
Stoke Therapeutics, Inc. *		1,681		14,003
StoneCo Ltd. Class A * (Brazil)		10,235		97,642
Strategic Education, Inc.		1,737		156,035
SunOpta, Inc. * (Canada)		491		3,781
Supernus Pharmaceuticals, Inc. *		3,795		137,493
Surgery Partners, Inc. *		442		15,236
Sutro Biopharma, Inc. *		4,038		18,656
Syndax Pharmaceuticals, Inc. *		3,554		75,060
Tactile Systems Technology, Inc. *		954		15,665
Talaris Therapeutics, Inc. *		1,484		2,790
Tango Therapeutics, Inc. *		3,506		13,849
Tarsus Pharmaceuticals, Inc. *		1,379		17,334
Tattooed Chef, Inc. *		441		626
Tejon Ranch Co. *		1,568		28,647
Tenaya Therapeutics, Inc. *		3,307		9,425
Textainer Group Holdings Ltd. (China)		2,885		92,637
Theravance Biopharma, Inc. *		527		5,718
Theseus Pharmaceuticals, Inc. *		1,277		11,340
Third Harmonic Bio, Inc. *		815		3,358
Tootsie Roll Industries, Inc.		169		7,579
Travere Therapeutics, Inc. *		416		9,356
TreeHouse Foods, Inc. *		3,891		196,223
Triton International Ltd. (Bermuda)		4,459		281,898

	Shares		Value
TrueBlue, Inc. *		2,552		$ 45,426
Twist Bioscience Corp. *		1,285		19,378
Tyra Biosciences, Inc. *		1,006		16,166
United Natural Foods, Inc. *		4,260		112,251
Universal Corp.		1,859		98,322
Utah Medical Products, Inc.		33		3,127
Utz Brands, Inc.		646		10,640
V2X, Inc. *		901		35,788
Vanda Pharmaceuticals, Inc. *		4,140		28,111
Varex Imaging Corp. *		2,888		52,533
Vaxart, Inc. *		7,595		5,747
VBI Vaccines, Inc. *		14,739		4,466
Vector Group Ltd.		9,451		113,506
Vera Therapeutics, Inc. *		130		1,009
Veracyte, Inc. *		5,481		122,226
Verve Therapeutics, Inc. *		3,117		44,947
Viad Corp. *		1,520		31,677
ViewRay, Inc. *		1,252		4,332
Village Super Market, Inc. Class A		644		14,735
Vintage Wine Estates, Inc. *		3,337		3,571
Vir Biotechnology, Inc. *		5,547		129,079
Viridian Therapeutics, Inc. *		770		19,589
VistaGen Therapeutics, Inc. *		4,412		550
Weis Markets, Inc.		1,262		106,854
Whole Earth Brands, Inc. *		3,041		7,785
Willdan Group, Inc. *		793		12,387
WW International, Inc. *		4,051		16,690
Xencor, Inc. *		4,391		122,465
Zentalis Pharmaceuticals, Inc. *		167		2,872
Zimvie, Inc. *		1,557		11,257
				14,247,796
Energy - 5.3%
Aemetis, Inc. *		2,237		5,190
Alto Ingredients, Inc. *		5,408		8,112
Amplify Energy Corp. *		604		4,149
Archrock, Inc.		10,396		101,569
Berry Corp.		4,742		37,225
Borr Drilling Ltd. * (United Arab Emirates)		8,554		64,839
Bristow Group, Inc. *		1,748		39,155
California Resources Corp.		5,665		218,102
Callon Petroleum Co. *		614		20,532
Chord Energy Corp.		1,290		173,634
Civitas Resources, Inc.		5,642		385,574
Cleanspark, Inc. *		5,394		14,995
CNX Resources Corp. *		12,169		194,947
CONSOL Energy, Inc.		148		8,624
Diamond Offshore Drilling, Inc. *		7,832		94,297
DMC Global, Inc. *		1,047		23,003
Dril-Quip, Inc. *		2,600		74,594
Eneti, Inc.		1,664		15,558
Equitrans Midstream Corp.		23,969		138,541
Excelerate Energy, Inc. Class A		1,388		30,730
Expro Group Holdings NV *		6,640		121,910
FuelCell Energy, Inc. *		8,394		23,923
FutureFuel Corp.		1,935		14,280
Gevo, Inc. *		14,716		22,663
Golar LNG Ltd. * (Cameroon)		7,290		157,464
Green Plains, Inc. *		4,028		124,828
Helix Energy Solutions Group, Inc. *		11,050		85,527
Helmerich & Payne, Inc.		7,865		281,174
Kinetik Holdings, Inc.		1,127		35,275
Murphy Oil Corp.		6,349		234,786
Nabors Industries Ltd. *		83		10,119
NACCO Industries, Inc. Class A		308		11,110
National Energy Services Reunited Corp. *		2,854		15,012
Newpark Resources, Inc. *		6,470		24,910
NextDecade Corp. *		487		2,420
Noble Corp. PLC *		5,290		208,796
Northern Oil & Gas, Inc.		739		22,429
NOW, Inc. *		8,505		94,831

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

270

PACIFIC SELECT FUND

PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Oceaneering International, Inc. *		700		$ 12,341
Oil States International, Inc. *		4,712		39,251
Patterson-UTI Energy, Inc.		5,182		60,629
PBF Energy, Inc. Class A		7,002		303,607
Peabody Energy Corp. *		9,007		230,579
Permian Resources Corp.		15,635		164,168
ProFrac Holding Corp. Class A *		948		12,011
ProPetro Holding Corp. *		6,857		49,302
REX American Resources Corp. *		1,165		33,307
Riley Exploration Permian, Inc.		300		11,418
Ring Energy, Inc. *		4,160		7,904
Select Energy Services, Inc. Class A		5,345		37,201
Stem, Inc. *		522		2,960
SunCoke Energy, Inc.		6,523		58,577
Sunnova Energy International, Inc. *		7,625		119,103
Tidewater, Inc. *		3,563		157,057
US Silica Holdings, Inc. *		4,718		56,333
Vertex Energy, Inc. *		457		4,515
W&T Offshore, Inc. *		1,203		6,111
Warrior Met Coal, Inc.		3,522		129,293
				4,640,494
Financial - 34.8%
1st Source Corp.		1,266		54,628
Acadia Realty Trust REIT		6,962		97,120
ACNB Corp.		649		21,125
AFC Gamma, Inc. REIT		1,219		14,823
Agree Realty Corp. REIT		6,697		459,481
Alerus Financial Corp.		1,155		18,538
Alexander & Baldwin, Inc. REIT *		5,435		102,776
Amalgamated Financial Corp.		1,452		25,686
Ambac Financial Group, Inc. *		3,478		53,839
Amerant Bancorp, Inc.		2,193		47,720
American Assets Trust, Inc. REIT		3,697		68,727
American Equity Investment Life Holding Co.		5,417		197,666
American National Bankshares, Inc.		809		25,645
American Realty Investors, Inc. *		146		3,843
Ameris Bancorp		5,082		185,900
AMERISAFE, Inc.		1,490		72,936
Angel Oak Mortgage REIT, Inc. REIT		895		6,534
Anywhere Real Estate, Inc. *		8,519		44,980
Apartment Investment & Management Co. Class A REIT		11,579		89,043
Apollo Commercial Real Estate Finance, Inc. REIT		10,833		100,855
Apple Hospitality REIT, Inc.		16,460		255,459
Applied Digital Corp. *		3,067		6,870
Arbor Realty Trust, Inc. REIT		12,635		145,176
Ares Commercial Real Estate Corp. REIT		3,858		35,069
Argo Group International Holdings Ltd.		2,459		72,024
Armada Hoffler Properties, Inc. REIT		5,032		59,428
ARMOUR Residential REIT, Inc.		12,595		66,124
Arrow Financial Corp.		1,163		28,970
Artisan Partners Asset Management, Inc. Class A		1,643		52,543
Ashford Hospitality Trust, Inc. REIT *		2,569		8,247
AssetMark Financial Holdings, Inc. *		1,692		53,213
Associated Banc-Corp.		11,417		205,278
Associated Capital Group, Inc. Class A		158		5,838
Atlantic Union Bankshares Corp.		5,609		196,595
Atlanticus Holdings Corp. *		101		2,740
Axos Financial, Inc. *		3,855		142,327
Banc of California, Inc.		3,844		48,165
BancFirst Corp.		617		51,273
Banco Latinoamericano de Comercio Exterior SA Class E (Panama)		2,212		38,445
Bancorp, Inc. *		1,678		46,732
Bank First Corp.		585		43,044
Bank of Marin Bancorp		1,272		27,844
Bank of NT Butterfield & Son Ltd. (Bermuda)		3,590		96,930
BankUnited, Inc.		5,634		127,216
Bankwell Financial Group, Inc.		458		11,386
Banner Corp.		2,563		139,350

	Shares		Value
Bar Harbor Bankshares		1,137		$ 30,074
BayCom Corp.		856		14,620
BCB Bancorp, Inc.		1,252		16,439
Berkshire Hills Bancorp, Inc.		3,201		80,217
BGC Partners, Inc. Class A		24,122		126,158
Blackstone Mortgage Trust, Inc. Class A REIT		13,181		235,281
Blue Foundry Bancorp *		2,165		20,611
Blue Ridge Bankshares, Inc.		1,380		14,076
Bluerock Homes Trust, Inc. REIT *		287		5,688
Braemar Hotels & Resorts, Inc. REIT		4,815		18,586
Brandywine Realty Trust REIT		12,668		59,920
Bread Financial Holdings, Inc.		3,745		113,548
Bridgewater Bancshares, Inc. *		1,209		13,106
Brightsphere Investment Group, Inc.		174		4,103
BrightSpire Capital, Inc. REIT		7,056		41,630
Broadmark Realty Capital, Inc. REIT		10,315		48,481
Broadstone Net Lease, Inc. REIT		13,241		225,229
Brookfield Business Corp. Class A (Canada)		226		4,479
Brookline Bancorp, Inc.		6,352		66,696
BRT Apartments Corp. REIT		903		17,807
Business First Bancshares, Inc.		1,904		32,616
Byline Bancorp, Inc.		1,954		42,246
Cadence Bank		12,781		265,334
Cambridge Bancorp		550		35,646
Camden National Corp.		1,090		39,447
Cannae Holdings, Inc. *		5,340		107,761
Capital Bancorp, Inc.		691		11,498
Capital City Bank Group, Inc.		1,036		30,365
Capitol Federal Financial, Inc.		9,524		64,097
Capstar Financial Holdings, Inc.		1,705		25,831
CareTrust REIT, Inc.		6,986		136,786
Carter Bankshares, Inc. *		1,794		25,116
Cathay General Bancorp		5,338		184,268
CBL & Associates Properties, Inc. REIT		1,770		45,383
Centerspace REIT		1,127		61,568
Central Pacific Financial Corp.		1,985		35,532
Chatham Lodging Trust REIT		3,579		37,544
Chicago Atlantic Real Estate Finance, Inc.		381		5,147
Chimera Investment Corp. REIT		17,888		100,888
Citizens & Northern Corp.		1,173		25,079
City Holding Co.		1,106		100,513
City Office REIT, Inc.		2,924		20,176
Civista Bancshares, Inc.		1,196		20,188
Claros Mortgage Trust, Inc. REIT		7,120		82,948
Clipper Realty, Inc. REIT		405		2,325
CNB Financial Corp.		1,521		29,203
CNO Financial Group, Inc.		8,685		192,720
Colony Bankcorp, Inc.		1,268		12,934
Columbia Financial, Inc. *		1,791		32,739
Community Bank System, Inc.		4,000		209,960
Community Healthcare Trust, Inc. REIT		789		28,877
Community Trust Bancorp, Inc.		1,242		47,134
Compass Diversified Holdings		4,791		91,412
ConnectOne Bancorp, Inc.		2,920		51,626
Consumer Portfolio Services, Inc. *		707		7,558
Corporate Office Properties Trust REIT		7,603		180,267
Crawford & Co. Class A		1,208		10,099
CrossFirst Bankshares, Inc. *		3,576		37,476
Cryptyde, Inc. *		848		71
CTO Realty Growth, Inc. REIT		1,777		30,671
Curo Group Holdings Corp.		675		1,168
Customers Bancorp, Inc. *		2,270		42,040
CVB Financial Corp.		9,984		166,533
DiamondRock Hospitality Co. REIT		16,047		130,462
Dime Community Bancshares, Inc.		2,440		55,437
Diversified Healthcare Trust REIT		17,854		24,103
Doma Holdings, Inc. *		9,595		3,910
Donegal Group, Inc. Class A		1,172		17,908
Douglas Elliman, Inc.		5,278		16,415
Dynex Capital, Inc. REIT		3,932		47,656
Eagle Bancorp, Inc.		2,304		77,115
Easterly Government Properties, Inc. REIT		6,811		93,583

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

271

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PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Eastern Bankshares, Inc.		9,347		$ 117,959
eHealth, Inc. *		1,329		12,439
Ellington Financial, Inc. REIT		4,952		60,464
Elme Communities REIT		6,542		116,840
Empire State Realty Trust, Inc. Class A REIT		9,962		64,653
Employers Holdings, Inc.		2,036		84,881
Enact Holdings, Inc.		2,361		53,972
Encore Capital Group, Inc. *		1,786		90,104
Enova International, Inc. *		2,301		102,233
Enstar Group Ltd. *		860		199,339
Enterprise Bancorp, Inc.		705		22,179
Enterprise Financial Services Corp.		2,699		120,348
Equity Bancshares, Inc. Class A		1,232		30,024
Equity Commonwealth REIT		8,018		166,053
Esquire Financial Holdings, Inc.		80		3,128
Essent Group Ltd.		8,062		322,883
Essential Properties Realty Trust, Inc. REIT		9,755		242,412
EZCORP, Inc. Class A *		3,661		31,485
Farmers & Merchants Bancorp, Inc.		674		16,392
Farmers National Banc Corp.		2,813		35,556
Farmland Partners, Inc. REIT		3,977		42,554
FB Financial Corp.		2,770		86,092
Federal Agricultural Mortgage Corp. Class C		704		93,766
Finance Of America Cos., Inc. Class A *		3,068		3,804
Financial Institutions, Inc.		1,260		24,293
First BanCorp		12,488		142,613
First Bancorp, Inc.		770		19,935
First Bancorp/Southern Pines NC		2,871		101,978
First Bancshares, Inc.		1,937		50,033
First Bank		1,170		11,817
First Busey Corp.		4,002		81,401
First Business Financial Services, Inc.		602		18,367
First Commonwealth Financial Corp.		7,612		94,617
First Community Bankshares, Inc.		1,216		30,461
First Financial Bancorp		6,976		151,868
First Financial Corp.		897		33,620
First Foundation, Inc.		4,135		30,806
First Guaranty Bancshares, Inc.		431		6,754
First Internet Bancorp		636		10,589
First Interstate BancSystem, Inc. Class A		6,838		204,183
First Merchants Corp.		4,382		144,387
First Mid Bancshares, Inc.		1,442		39,251
First of Long Island Corp.		1,775		23,963
First Western Financial, Inc. *		623		12,335
Five Star Bancorp		633		13,508
Flushing Financial Corp.		2,243		33,398
Four Corners Property Trust, Inc. REIT		5,813		156,137
Franklin BSP Realty Trust, Inc. REIT		6,224		74,252
Franklin Street Properties Corp. REIT		7,419		11,648
FRP Holdings, Inc. *		518		29,982
Fulton Financial Corp.		12,412		171,534
FVCBankcorp, Inc. *		1,273		13,557
GCM Grosvenor, Inc. Class A		596		4,655
Genworth Financial, Inc. Class A *		37,068		186,081
German American Bancorp, Inc.		2,113		70,511
Getty Realty Corp. REIT		3,155		113,675
Glacier Bancorp, Inc.		7,399		310,832
Gladstone Commercial Corp. REIT		368		4,648
Gladstone Land Corp. REIT		1,097		18,265
Global Medical REIT, Inc.		4,573		41,660
Global Net Lease, Inc. REIT		8,003		102,919
Goosehead Insurance, Inc. Class A *		175		9,135
Granite Point Mortgage Trust, Inc. REIT		3,876		19,225
Great Southern Bancorp, Inc.		715		36,236
Greenlight Capital Re Ltd. Class A *		1,984		18,630
Guaranty Bancshares, Inc.		626		17,447
Hancock Whitney Corp.		6,594		240,022
Hanmi Financial Corp.		2,257		41,913
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT		6,231		178,207
HarborOne Bancorp, Inc.		3,473		42,371
HBT Financial, Inc.		915		18,044

	Shares		Value
Heartland Financial USA, Inc.		3,143		$ 120,566
Heritage Commerce Corp.		4,696		39,118
Heritage Financial Corp.		2,591		55,447
Hersha Hospitality Trust REIT		2,202		14,797
Hilltop Holdings, Inc.		3,820		113,339
Hingham Institution For Savings		103		24,044
Hippo Holdings, Inc. *		1,290		20,937
Home Bancorp, Inc.		574		18,959
Home BancShares, Inc.		14,385		312,298
Home Point Capital, Inc.		1,033		1,994
HomeStreet, Inc.		1,340		24,107
HomeTrust Bancshares, Inc.		985		24,221
Hope Bancorp, Inc.		8,651		84,953
Horace Mann Educators Corp.		3,073		102,884
Horizon Bancorp, Inc.		3,237		35,801
Independence Realty Trust, Inc. REIT		17,183		275,444
Independent Bank Corp.		3,429		225,011
Independent Bank Corp. MI		1,511		26,850
Independent Bank Group, Inc.		2,738		126,906
Indus Realty Trust, Inc. REIT		432		28,637
Industrial Logistics Properties Trust REIT		4,606		14,140
International Bancshares Corp.		4,101		175,605
InvenTrust Properties Corp. REIT		5,190		121,446
Invesco Mortgage Capital, Inc. REIT		2,646		29,344
Investors Title Co.		85		12,835
iStar, Inc. REIT *		1,819		53,423
Jackson Financial, Inc. Class A		5,723		214,097
James River Group Holdings Ltd.		2,757		56,932
John Marshall Bancorp, Inc.		900		19,440
Kearny Financial Corp.		4,462		36,231
Kennedy-Wilson Holdings, Inc.		9,035		149,891
Kite Realty Group Trust REIT		16,670		348,736
KKR Real Estate Finance Trust, Inc. REIT		4,505		51,312
Ladder Capital Corp. REIT		8,795		83,113
Lakeland Bancorp, Inc.		4,837		75,651
Lakeland Financial Corp.		147		9,208
Legacy Housing Corp. *		660		15,022
Lemonade, Inc. *		3,693		52,662
LendingClub Corp. *		7,854		56,627
Live Oak Bancshares, Inc.		601		14,646
LTC Properties, Inc. REIT		3,062		107,568
Luther Burbank Corp.		1,189		11,272
LXP Industrial Trust REIT		20,820		214,654
Macatawa Bank Corp.		2,001		20,450
Macerich Co. REIT		16,479		174,677
MBIA, Inc. *		3,594		33,280
Mercantile Bank Corp.		1,173		35,870
Merchants Bancorp		1,184		30,831
Mercury General Corp.		2,084		66,146
Metrocity Bankshares, Inc.		1,093		18,679
Metropolitan Bank Holding Corp. *		781		26,468
MFA Financial, Inc. REIT		7,936		78,725
Mid Penn Bancorp, Inc.		1,088		27,864
Midland States Bancorp, Inc.		1,594		34,143
MidWestOne Financial Group, Inc.		1,172		28,620
Moelis & Co. Class A		2,448		94,101
Mr Cooper Group, Inc. *		5,303		217,264
MVB Financial Corp.		775		15,996
National Bank Holdings Corp. Class A		2,025		67,757
National Health Investors, Inc. REIT		3,195		164,798
National Western Life Group, Inc. Class A		171		41,488
Navient Corp.		7,811		124,898
NBT Bancorp, Inc.		3,137		105,748
Necessity Retail REIT, Inc. REIT		10,440		65,563
Nelnet, Inc. Class A		1,121		103,009
NETSTREIT Corp. REIT		4,245		77,599
New York Mortgage Trust, Inc. *		6,933		69,053
Newmark Group, Inc. Class A		9,741		68,966
Nexpoint Real Estate Finance, Inc. REIT		613		9,606
NexPoint Residential Trust, Inc. REIT		95		4,149
NI Holdings, Inc. *		684		8,892
Nicolet Bankshares, Inc. *		857		54,034

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

272

PACIFIC SELECT FUND

PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
NMI Holdings, Inc. Class A *		5,849		$ 130,608
Northeast Bank		494		16,628
Northfield Bancorp, Inc.		3,183		37,496
Northwest Bancshares, Inc.		9,110		109,593
OceanFirst Financial Corp.		4,494		83,049
Office Properties Income Trust REIT		3,588		44,132
OFG Bancorp		3,483		86,866
Old National Bancorp		22,439		323,570
Old Second Bancorp, Inc.		3,345		47,031
One Liberty Properties, Inc. REIT		1,238		28,387
Oportun Financial Corp. *		2,090		8,067
Oppenheimer Holdings, Inc. Class A		587		22,981
OppFi, Inc. *		1,461		2,995
Orchid Island Capital, Inc. REIT		3,017		32,372
Origin Bancorp, Inc.		1,759		56,552
Orion Office REIT, Inc. REIT		4,237		28,388
Orrstown Financial Services, Inc.		814		16,166
Pacific Premier Bancorp, Inc.		7,009		168,356
Paramount Group, Inc. REIT		14,571		66,444
Park National Corp.		1,097		130,071
Parke Bancorp, Inc.		777		13,815
Pathward Financial, Inc.		1,472		61,073
PCB Bancorp		859		12,447
Peapack-Gladstone Financial Corp.		1,298		38,447
Pebblebrook Hotel Trust REIT		9,718		136,441
PennyMac Financial Services, Inc.		2,048		122,081
PennyMac Mortgage Investment Trust REIT		5,362		66,113
Peoples Bancorp, Inc.		2,183		56,212
Peoples Financial Services Corp.		550		23,843
Perella Weinberg Partners		312		2,839
Physicians Realty Trust REIT		17,440		260,379
Piedmont Office Realty Trust, Inc. Class A REIT		9,540		69,642
Pioneer Bancorp, Inc. *		950		9,367
Piper Sandler Cos.		1,330		184,351
Plymouth Industrial REIT, Inc. REIT		2,839		59,647
Postal Realty Trust, Inc. Class A REIT		570		8,675
PotlatchDeltic Corp. REIT		5,522		273,339
PRA Group, Inc. *		2,947		114,815
Preferred Bank		417		22,856
Premier Financial Corp.		2,774		57,505
Primis Financial Corp.		1,691		16,284
ProAssurance Corp.		4,021		74,308
Provident Bancorp, Inc.		1,075		7,353
Provident Financial Services, Inc.		5,464		104,800
QCR Holdings, Inc.		1,250		54,888
Radian Group, Inc.		11,782		260,382
Radius Global Infrastructure, Inc. Class A *		5,914		86,758
RBB Bancorp		1,151		17,841
RE/MAX Holdings, Inc. Class A		1,322		24,801
Ready Capital Corp. REIT		5,614		57,094
Red River Bancshares, Inc.		332		15,973
Redwood Trust, Inc. REIT		8,492		57,236
Regional Management Corp.		563		14,689
Renasant Corp.		4,104		125,500
Republic Bancorp, Inc. Class A		669		28,386
Republic First Bancorp, Inc. *		4,635		6,304
Retail Opportunity Investments Corp. REIT		9,227		128,809
RLJ Lodging Trust REIT		12,271		130,073
RMR Group, Inc. Class A		435		11,414
Root, Inc. Class A *		955		4,307
RPT Realty REIT		6,330		60,198
Ryman Hospitality Properties, Inc. REIT		4,117		369,418
S&T Bancorp, Inc.		2,930		92,149
Sabra Health Care REIT, Inc.		17,660		203,090
Safety Insurance Group, Inc.		1,068		79,587
Sandy Spring Bancorp, Inc.		3,359		87,267
Saul Centers, Inc. REIT		87		3,393
Sculptor Capital Management, Inc.		966		8,317
Seacoast Banking Corp. of Florida		5,395		127,862
Selective Insurance Group, Inc.		4,566		435,277
Selectquote, Inc. *		10,175		22,080
Service Properties Trust REIT		12,566		125,157

	Shares		Value
Shore Bancshares, Inc.		1,487		$ 21,234
Sierra Bancorp		1,171		20,165
Silvercrest Asset Management Group, Inc. Class A		151		2,745
Simmons First National Corp. Class A		9,114		159,404
SiriusPoint Ltd. * (Bermuda)		6,335		51,504
SITE Centers Corp. REIT		14,695		180,455
Skyward Specialty Insurance Group, Inc. *		705		15,418
SmartFinancial, Inc.		1,184		27,398
South Plains Financial, Inc.		752		16,100
Southern First Bancshares, Inc. *		642		19,709
Southern Missouri Bancorp, Inc.		637		23,830
Southside Bancshares, Inc.		2,246		74,567
SouthState Corp.		5,737		408,819
STAG Industrial, Inc. REIT		13,804		466,851
Star Holdings *		1,010		17,564
Stellar Bancorp, Inc.		3,502		86,184
Sterling Bancorp, Inc. *		1,330		7,528
Stewart Information Services Corp.		2,005		80,902
Stock Yards Bancorp, Inc.		377		20,788
StoneX Group, Inc. *		1,225		126,824
Stratus Properties, Inc.		451		9,020
Summit Financial Group, Inc.		859		17,824
Summit Hotel Properties, Inc. REIT		7,843		54,901
Sunlight Financial Holdings, Inc. *		2,771		865
Sunstone Hotel Investors, Inc. REIT		16,229		160,343
SWK Holdings Corp. *		275		4,912
Terreno Realty Corp. REIT		6,172		398,711
Texas Capital Bancshares, Inc. *		3,699		181,103
Third Coast Bancshares, Inc. *		917		14,406
Tiptree, Inc.		1,870		27,246
Tompkins Financial Corp.		1,049		69,454
Towne Bank		5,296		141,138
TPG RE Finance Trust, Inc. REIT		5,184		37,636
Transcontinental Realty Investors, Inc. REIT *		99		4,197
Trean Insurance Group, Inc. *		1,677		10,263
TriCo Bancshares		2,407		100,107
Triumph Financial, Inc. *		1,084		62,937
TrustCo Bank Corp.		1,395		44,556
Trustmark Corp.		4,587		113,299
Two Harbors Investment Corp. REIT		7,415		109,075
UMB Financial Corp.		3,368		194,401
UMH Properties, Inc. REIT		699		10,338
United Bankshares, Inc.		9,989		351,613
United Community Banks, Inc.		7,964		223,948
United Fire Group, Inc.		1,604		42,586
Uniti Group, Inc. REIT		18,484		65,618
Unity Bancorp, Inc.		552		12,591
Universal Insurance Holdings, Inc.		1,587		28,915
Univest Financial Corp.		2,266		53,795
Urban Edge Properties REIT		8,762		131,956
Urstadt Biddle Properties, Inc. Class A REIT		2,146		37,705
USCB Financial Holdings, Inc. *		856		8,466
Valley National Bancorp		32,961		304,560
Velocity Financial, Inc. *		607		5,481
Veris Residential, Inc. REIT *		6,623		96,961
Veritex Holdings, Inc.		3,353		61,226
Victory Capital Holdings, Inc. Class A		852		24,938
Virtus Investment Partners, Inc.		464		88,341
Walker & Dunlop, Inc.		731		55,680
Washington Federal, Inc.		4,848		146,022
Washington Trust Bancorp, Inc.		1,350		46,791
Waterstone Financial, Inc.		1,579		23,890
WesBanco, Inc.		4,383		134,558
West BanCorp, Inc.		1,014		18,526
Westamerica BanCorp		1,459		64,634
Whitestone REIT		3,511		32,301
World Acceptance Corp. *		89		7,413
WSFS Financial Corp.		4,586		172,479
Xenia Hotels & Resorts, Inc. REIT		8,565		112,116
				30,614,909

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

273

PACIFIC SELECT FUND

PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Industrial - 12.8%
908 Devices, Inc. *		1,277		$10,982
AAR Corp. *		2,532		138,121
Aerojet Rocketdyne Holdings, Inc. *		1,509		84,761
AerSale Corp. *		1,850		31,857
Air Transport Services Group, Inc. *		2,811		58,553
Akoustis Technologies, Inc. *		361		1,112
Alamo Group, Inc.		113		20,810
Albany International Corp. Class A		1,918		171,393
Allied Motion Technologies, Inc.		131		5,063
American Woodmark Corp. *		1,218		63,421
AMMO, Inc. *		6,628		13,057
ArcBest Corp.		1,250		115,525
Archer Aviation, Inc. Class A *		10,867		31,080
Arcosa, Inc.		3,706		233,886
Ardmore Shipping Corp. (Ireland)		3,228		48,000
Argan, Inc.		968		39,175
Astec Industries, Inc.		1,711		70,579
Astra Space, Inc. *		11,686		4,967
Astronics Corp. *		1,919		25,638
Atlas Technical Consultants, Inc. *		559		6,814
Barnes Group, Inc.		3,746		150,889
Belden, Inc.		1,517		131,630
Benchmark Electronics, Inc.		2,726		64,579
Boise Cascade Co.		2,391		151,231
Brady Corp. Class A		806		43,306
Caesarstone Ltd.		1,706		7,046
Centrus Energy Corp. Class A *		797		25,663
Chase Corp.		427		44,720
CIRCOR International, Inc. *		987		30,715
Clearwater Paper Corp. *		1,328		44,382
Columbus McKinnon Corp.		2,175		80,823
Comtech Telecommunications Corp.		1,944		24,261
Concrete Pumping Holdings, Inc. *		1,934		13,151
Costamare, Inc. (Monaco)		3,953		37,198
Covenant Logistics Group, Inc.		700		24,794
CryoPort, Inc. *		609		14,616
DHT Holdings, Inc.		10,492		113,419
Dorian LPG Ltd.		2,421		48,275
Ducommun, Inc. *		878		48,035
DXP Enterprises, Inc. *		1,141		30,716
Eagle Bulk Shipping, Inc.		1,060		48,230
Eastman Kodak Co. *		4,280		17,548
Encore Wire Corp.		1,354		250,937
EnerSys		2,765		240,223
EnPro Industries, Inc.		1,592		165,393
ESCO Technologies, Inc.		1,792		171,046
ESS Tech, Inc. *		784		1,090
Evolv Technologies Holdings, Inc. *		6,319		19,715
FARO Technologies, Inc. *		1,303		32,067
Fathom Digital Manufacturing C Class A *		1,317		715
FLEX LNG Ltd. * (Norway)		2,238		75,152
Fluor Corp. *		926		28,623
Frontdoor, Inc. *		6,333		176,564
Frontline PLC		9,540		157,982
GATX Corp.		2,538		279,231
Genco Shipping & Trading Ltd.		2,908		45,539
Gibraltar Industries, Inc. *		2,386		115,721
Golden Ocean Group Ltd. * (Norway)		9,468		90,135
GoPro, Inc. Class A *		10,139		50,999
Gorman-Rupp Co.		1,400		35,000
Granite Construction, Inc.		3,385		139,056
Great Lakes Dredge & Dock Corp. *		3,679		19,977
Greenbrier Cos., Inc.		2,476		79,653
Greif, Inc. Class A		1,626		103,040
Greif, Inc. Class B		354		27,088
Griffon Corp.		1,687		54,001
Harsco Corp. *		5,885		40,195
Heartland Express, Inc.		3,666		58,363
Heritage-Crystal Clean, Inc. *		1,176		41,877
Hillenbrand, Inc.		2,652		126,050

	Shares		Value
Hillman Solutions Corp. *		10,397		$ 87,543
Hub Group, Inc. Class A *		2,469		207,248
Hydrofarm Holdings Group, Inc. *		3,295		5,700
Hyster-Yale Materials Handling, Inc.		812		40,511
Ichor Holdings Ltd. *		2,188		71,635
IES Holdings, Inc. *		208		8,963
International Seaways, Inc.		3,725		155,258
Itron, Inc. *		3,172		175,887
JELD-WEN Holding, Inc. *		4,139		52,400
Joby Aviation, Inc. *		1,742		7,560
Kaman Corp.		2,098		47,960
Kennametal, Inc.		6,226		171,713
Kimball Electronics, Inc. *		1,801		43,404
Knowles Corp. *		6,854		116,518
Kratos Defense & Security Solutions, Inc. *		9,454		127,440
Li-Cycle Holdings Corp. * (Canada)		6,313		35,542
Luxfer Holdings PLC (United Kingdom)		1,223		20,669
Manitowoc Co., Inc. *		2,750		46,998
Marten Transport Ltd.		1,115		23,359
Materion Corp.		95		11,020
Matson, Inc.		2,859		170,597
Mirion Technologies, Inc. *		10,591		90,447
Modine Manufacturing Co. *		3,846		88,650
Momentus, Inc. *		4,592		2,686
Moog, Inc. Class A		1,824		183,768
Mueller Industries, Inc.		2,740		201,335
National Presto Industries, Inc.		385		27,755
NEXTracker, Inc. Class A *		273		9,899
NL Industries, Inc.		913		5,533
nLight, Inc. *		3,335		33,950
Nordic American Tankers Ltd.		16,035		63,499
Northwest Pipe Co. *		583		18,207
NuScale Power Corp. *		2,347		21,334
O-I Glass, Inc. *		2,294		52,097
Olympic Steel, Inc.		721		37,643
OSI Systems, Inc. *		1,098		112,391
Pactiv Evergreen, Inc.		3,263		26,104
Park Aerospace Corp.		1,467		19,731
Plexus Corp. *		324		31,613
Powell Industries, Inc.		685		29,174
Primoris Services Corp.		3,852		94,990
Proto Labs, Inc. *		1,785		59,173
PureCycle Technologies, Inc. *		1,652		11,564
Radiant Logistics, Inc. *		2,121		13,914
Ranpak Holdings Corp. *		3,259		17,012
RBC Bearings, Inc. *		1,868		434,740
Redwire Corp. *		1,829		5,542
Ryerson Holding Corp.		1,445		52,569
Safe Bulkers, Inc. (Greece)		5,370		19,815
Sanmina Corp. *		4,363		266,099
Scorpio Tankers, Inc. (Monaco)		3,598		202,603
SFL Corp. Ltd. (Norway)		8,575		81,463
Sight Sciences, Inc. *		1,485		12,979
Smith & Wesson Brands, Inc.		3,169		39,010
SPX Technologies, Inc. *		3,350		236,443
Standex International Corp.		908		111,176
Sterling Infrastructure, Inc. *		345		13,069
Stoneridge, Inc. *		1,669		31,210
Sturm Ruger & Co., Inc.		119		6,835
Summit Materials, Inc. Class A *		9,097		259,174
Teekay Corp. * (Bermuda)		5,152		31,839
Teekay Tankers Ltd. Class A * (Canada)		1,771		76,029
Tennant Co.		810		55,509
Terex Corp.		2,592		125,401
Thermon Group Holdings, Inc. *		2,585		64,418
TimkenSteel Corp. *		3,469		63,621
Tredegar Corp.		2,048		18,698
TriMas Corp.		3,236		90,155
Trinity Industries, Inc.		5,343		130,156
Triumph Group, Inc. *		5,026		58,251
TTM Technologies, Inc. *		7,790		105,087
Turtle Beach Corp. *		409		4,098

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

274

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Tutor Perini Corp. *		3,157		$19,479
UFP Industries, Inc.		586		46,569
Universal Logistics Holdings, Inc.		193		5,626
View, Inc. *		13,096		6,548
Vishay Intertechnology, Inc.		9,936		224,752
Vishay Precision Group, Inc. *		988		41,259
Werner Enterprises, Inc.		4,256		193,605
Worthington Industries, Inc.		2,404		155,419
				11,165,093
Technology - 3.8%
3D Systems Corp. *		9,732		104,327
ACM Research, Inc. Class A *		3,108		36,364
ACV Auctions, Inc. Class A *		4,699		60,664
Adeia, Inc.		8,107		71,828
Alpha & Omega Semiconductor Ltd. *		361		9,729
American Software, Inc. Class A		614		7,743
Amkor Technology, Inc.		6,188		161,012
Avid Technology, Inc. *		971		31,053
AvidXchange Holdings, Inc. *		1,172		9,142
AXT, Inc. *		3,088		12,290
Bandwidth, Inc. Class A *		1,400		21,280
Blackbaud, Inc. *		182		12,613
Blend Labs, Inc. Class A *		14,218		14,164
Brightcove, Inc. *		974		4,334
C3.ai, Inc. Class A *		3,732		125,283
Cantaloupe, Inc. *		1,713		9,764
Cardlytics, Inc. *		2,379		8,077
Cerence, Inc. *		3,117		87,557
Cohu, Inc. *		3,599		138,166
Computer Programs & Systems, Inc. *		1,055		31,861
Conduent, Inc. *		13,442		46,106
Consensus Cloud Solutions, Inc. *		734		25,022
Corsair Gaming, Inc. *		1,328		24,369
Cvent Holding Corp. *		3,447		28,817
Daily Journal Corp. *		92		26,216
Desktop Metal, Inc. Class A *		20,089		46,205
Diebold Nixdorf, Inc. *		1,182		1,418
Digi International, Inc. *		1,799		60,590
Digimarc Corp. *		83		1,631
Diodes, Inc. *		940		87,194
Donnelley Financial Solutions, Inc. *		1,838		75,101
E2open Parent Holdings, Inc. *		15,366		89,430
Ebix, Inc.		1,554		20,497
eGain Corp. *		918		6,968
EverCommerce, Inc. *		1,559		16,494
Faraday Future Intelligent Electric, Inc. *		17,172		6,081
Fastly, Inc. Class A *		8,684		154,228
ForgeRock, Inc. Class A *		907		18,684
Health Catalyst, Inc. *		4,326		50,484
Impinj, Inc. *		148		20,057
Insight Enterprises, Inc. *		387		55,326
Inspired Entertainment, Inc. *		499		6,382
Instructure Holdings, Inc. *		1,112		28,801
Integral Ad Science Holding Corp. *		1,930		27,541
IonQ, Inc. *		7,817		48,075
Kaleyra, Inc. * (Italy)		864		1,426
Latch, Inc. *		8,276		6,307
LiveVox Holdings, Inc. *		1,773		5,479
Markforged Holding Corp. *		7,436		7,130
Matterport, Inc. *		4,618		12,607
Maximus, Inc.		252		19,832
MicroStrategy, Inc. Class A *		306		89,450
Mitek Systems, Inc. *		221		2,119
N-Able, Inc. *		644		8,501
NetScout Systems, Inc. *		5,189		148,665
NextGen Healthcare, Inc. *		2,124		36,979
Olo, Inc. Class A *		7,063		57,634
ON24, Inc. *		3,171		27,778
OneSpan, Inc. *		1,918		33,565
Ouster, Inc. *		20,993		17,565

	Shares		Value
Outbrain, Inc. *		2,767		$ 11,428
PAR Technology Corp. *		1,317		44,725
Parsons Corp. *		2,575		115,205
Pear Therapeutics, Inc. *		4,327		1,103
Photronics, Inc. *		1,220		20,228
Phreesia, Inc. *		2,022		65,290
Playstudios, Inc. *		3,005		11,088
Porch Group, Inc. *		6,157		8,804
PowerSchool Holdings, Inc. Class A *		2,363		46,835
PROS Holdings, Inc. *		1,095		30,003
PubMatic, Inc. Class A *		301		4,160
Rackspace Technology, Inc. *		4,301		8,086
Rambus, Inc. *		1,335		68,432
Rigetti Computing, Inc. Class A *		9,241		6,685
Sapiens International Corp. NV (Israel)		663		14,400
SecureWorks Corp. Class A *		761		6,522
Sharecare, Inc. *		23,473		33,332
Skillsoft Corp. *		6,126		12,252
Skillz, Inc. *		23,514		13,948
SolarWinds Corp. *		3,614		31,080
Sumo Logic, Inc. *		3,290		39,414
Ultra Clean Holdings, Inc. *		2,302		76,334
Unisys Corp. *		1,262		4,897
Upland Software, Inc. *		2,206		9,486
Veeco Instruments, Inc. *		879		18,573
Veradigm, Inc. *		8,067		105,274
Verint Systems, Inc. *		430		16,013
Vuzix Corp. *		831		3,440
WM Technology, Inc. *		735		624
Xerox Holdings Corp.		8,748		134,719
				3,366,385
Utilities - 4.7%
ALLETE, Inc.		4,385		282,263
Altus Power, Inc. *		5,027		27,548
American States Water Co.		1,479		131,468
Artesian Resources Corp. Class A		209		11,570
Avista Corp.		5,525		234,536
Black Hills Corp.		4,974		313,859
California Water Service Group		3,072		178,790
Chesapeake Utilities Corp.		572		73,210
MGE Energy, Inc.		1,602		124,427
New Jersey Resources Corp.		6,777		360,536
Northwest Natural Holding Co.		2,653		126,177
NorthWestern Corp.		4,439		256,841
ONE Gas, Inc.		4,114		325,952
Ormat Technologies, Inc.		1,786		151,399
Otter Tail Corp.		1,743		125,967
PNM Resources, Inc.		6,538		318,270
Portland General Electric Co.		6,846		334,701
SJW Group		2,067		157,361
Southwest Gas Holdings, Inc. *		4,660		291,017
Spire, Inc.		3,901		273,616
Unitil Corp.		1,192		67,992
Via Renewables, Inc. *		39		717
				4,168,217
Total Common Stocks (Cost $97,371,668)				84,534,588
EXCHANGE-TRADED FUND - 2.6%
iShares Russell 2000 Value		16,830		2,306,047
Total Exchange-Traded Fund (Cost $2,395,707)				2,306,047

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

275

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PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENT - 1.0%
Repurchase Agreement - 1.0%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $865,087; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $882,074)		$864,767		$864,767
Total Short-Term Investment (Cost $864,767)				864,767
TOTAL INVESTMENTS - 99.8% (Cost $100,632,142)				87,705,723
DERIVATIVES - 0.0%				28,793
OTHER ASSETS & LIABILITIES, NET - 0.2%				163,499
NET ASSETS - 100.0%				$87,898,015

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $312 or less than 0.1% of the Fund’s net assets were valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or the Board of Trustees.

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

276

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PD SMALL-CAP VALUE INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(b) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month		Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Micro Russell 2000 E-Mini Index		06/23		119		$1,050,240		$1,079,033		$28,793

(c) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Rights
	Basic Materials		$9		$9		$-		$-
	Consumer, Non-Cyclical		312		-		-		312
	Total Rights		321		9		-		312
	Common Stocks
	Basic Materials		2,676,770		2,676,770		-		-
	Communications		3,008,660		3,008,660		-		-
	Consumer, Cyclical		10,646,264		10,646,264		-		-
	Consumer, Non-Cyclical		14,247,796		14,195,283		52,513		-
	Energy		4,640,494		4,640,494		-		-
	Financial		30,614,909		30,614,909		-		-
	Industrial		11,165,093		11,165,093		-		-
	Technology		3,366,385		3,366,385		-		-
	Utilities		4,168,217		4,168,217		-		-
	Total Common Stocks		84,534,588		84,482,075		52,513		-
	Exchange-Traded Fund		2,306,047		2,306,047		-		-
	Short-Term Investment		864,767		-		864,767		-
	Derivatives:
	Equity Contracts
	Futures		28,793		28,793		-		-
	Total		$87,734,516		$86,816,924		$917,280		$312

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

277

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PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
RIGHTS - 0.0%
Brazil - 0.0%
Localiza Rent a Car SA Exp 05/11/23 *		71		$184
Total Rights (Cost $0)				184
WARRANTS - 0.0%
Thailand - 0.0%
Minor International PCL Exercise @ THB 31.00 Exp 02/15/24 *		3,344		353
Total Warrants (Cost $0)				353
PREFERRED STOCKS - 2.0%
Brazil - 1.2%
Banco Bradesco SA		114,990		298,793
Centrais Eletricas Brasileiras SA Class B		5,500		39,369
Cia Energetica de Minas Gerais		29,945		67,589
Gerdau SA		24,885		124,169
Itau Unibanco Holding SA		104,400		509,595
Itausa SA		109,873		178,192
Petroleo Brasileiro SA		102,600		474,695
				1,692,402
Chile - 0.2%
Sociedad Quimica y Minera de Chile SA Class B		3,076		247,166
Colombia - 0.0%
Bancolombia SA		9,736		61,004
Russia - 0.0%
Surgutneftegas PJSC * W ±		44,600		-
South Korea - 0.6%
Hyundai Motor Co.		806		59,537
Hyundai Motor Co.		448		32,569
LG Chem Ltd.		165		39,535
Samsung Electronics Co. Ltd.		17,725		737,619
				869,260
Total Preferred Stocks (Cost $3,263,839)				2,869,832
COMMON STOCKS - 95.3%
Australia - 0.2%
AngloGold Ashanti Ltd.		9,015		219,559
Brazil - 3.5%
Ambev SA		101,800		287,819
Atacadao SA		13,600		33,246
B3 SA - Brasil Bolsa Balcao		131,300		268,120
Banco Bradesco SA		34,400		80,427
Banco BTG Pactual SA		25,400		98,474
Banco do Brasil SA		18,500		142,753
Banco Santander Brasil SA		8,100		42,830

	Shares		Value
BB Seguridade Participacoes SA		15,100		$96,854
CCR SA		26,100		65,914
Centrais Eletricas Brasileiras SA		26,100		171,375
Cia de Saneamento Basico do Estado de Sao Paulo SABESP		7,400		73,891
Cia Siderurgica Nacional SA		14,300		43,562
Cosan SA		26,200		78,004
CPFL Energia SA		5,000		31,223
Energisa SA		4,300		34,088
Eneva SA *		18,700		38,629
Engie Brasil Energia SA		4,400		34,872
Equatorial Energia SA		21,900		116,490
Hapvida Participacoes e Investimentos SA * ~		100,043		51,715
Hypera SA		8,900		66,200
Inter & Co., Inc. BDR *		55		95
Klabin SA		16,800		59,962
Localiza Rent a Car SA		16,058		169,183
Lojas Renner SA		21,391		69,932
Magazine Luiza SA *		65,400		42,710
Natura & Co. Holding SA		19,400		50,524
Petro Rio SA *		15,200		93,537
Petroleo Brasileiro SA		80,100		418,639
Raia Drogasil SA		23,100		111,433
Rede D’Or Sao Luiz SA ~		12,440		52,131
Rumo SA		28,000		104,134
Sendas Distribuidora SA		26,100		80,023
Suzano SA		16,100		132,143
Telefonica Brasil SA		10,800		82,378
TIM SA		18,300		45,421
TOTVS SA		11,300		62,782
Ultrapar Participacoes SA		15,600		42,967
Vale SA		82,353		1,304,565
Vibra Energia SA		25,126		71,435
WEG SA		36,200		289,617
				5,140,097
Chile - 0.4%
Banco de Chile		979,329		95,113
Banco de Credito e Inversiones SA		1,273		37,316
Banco Santander Chile		1,420,823		63,007
Cencosud SA		30,174		58,306
Cia Cervecerias Unidas SA		2,785		21,420
Cia Sud Americana de Vapores SA		331,541		33,042
Empresas CMPC SA		24,220		40,476
Empresas COPEC SA		8,399		59,277
Enel Americas SA		462,127		60,870
Enel Chile SA		595,896		32,505
Falabella SA		16,179		37,207
				538,539
China - 31.6%
360 DigiTech, Inc. ADR		2,568		49,819
360 Security Technology, Inc. Class A		9,200		23,414
37 Interactive Entertainment Network Technology Group Co. Ltd. Class A		2,900		12,000
3SBio, Inc. ~		31,500		31,350
AAC Technologies Holdings, Inc. *		15,500		38,337
Advanced Micro-Fabrication Equipment, Inc. China Class A *		795		17,127
AECC Aero-Engine Control Co. Ltd. Class A		1,700		6,030
AECC Aviation Power Co. Ltd. Class A		3,400		21,397
Agricultural Bank of China Ltd. Class A		98,500		44,601
Agricultural Bank of China Ltd. Class H		644,000		238,490
Aier Eye Hospital Group Co. Ltd. Class A		9,251		41,812
Air China Ltd. Class A *		8,500		13,251
Air China Ltd. Class H *		42,000		37,563
Airtac International Group		3,232		126,402
Akeso, Inc. * ~		10,000		51,632
Alibaba Group Holding Ltd. *		319,320		4,044,343
Alibaba Health Information Technology Ltd. *		102,000		73,564
Aluminum Corp. of China Ltd. Class A		13,800		11,088

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

278

PACIFIC SELECT FUND

PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Aluminum Corp. of China Ltd. Class H		90,000		$45,586
Amlogic Shanghai Co. Ltd. Class A *		381		4,660
Angel Yeast Co. Ltd. Class A		1,200		7,288
Anhui Conch Cement Co. Ltd. Class A		4,500		18,491
Anhui Conch Cement Co. Ltd. Class H		27,500		95,307
Anhui Gujing Distillery Co. Ltd. Class A		500		21,501
Anhui Gujing Distillery Co. Ltd. Class B		2,300		41,070
Anhui Honglu Steel Construction Group Co. Ltd. Class A		780		3,757
Anhui Kouzi Distillery Co. Ltd. Class A		800		8,198
Anhui Yingjia Distillery Co. Ltd. Class A		900		8,718
Anjoy Foods Group Co. Ltd. Class A		400		9,539
ANTA Sports Products Ltd.		26,400		383,304
Apeloa Pharmaceutical Co. Ltd. Class A		1,300		4,027
Asia - Potash International Investment Guangzhou Co. Ltd. Class A *		1,200		4,775
Asymchem Laboratories Tianjin Co. Ltd. Class A		480		9,313
Autobio Diagnostics Co. Ltd. Class A		800		7,100
Autohome, Inc. ADR		1,622		54,288
Avary Holding Shenzhen Co. Ltd. Class A		2,500		11,305
AVIC Industry-Finance Holdings Co. Ltd. Class A		11,600		6,921
AviChina Industry & Technology Co. Ltd. Class H		53,000		27,849
Avicopter PLC Class A		800		4,928
Baidu, Inc. Class A *		47,484		894,659
Bank of Beijing Co. Ltd. Class A		27,400		17,558
Bank of Changsha Co. Ltd. Class A		5,300		6,112
Bank of Chengdu Co. Ltd. Class A		4,700		9,277
Bank of China Ltd. Class A		106,300		52,274
Bank of China Ltd. Class H		1,625,000		622,971
Bank of Communications Co. Ltd. Class A		62,500		46,492
Bank of Communications Co. Ltd. Class H		173,000		108,800
Bank of Hangzhou Co. Ltd. Class A		7,600		12,843
Bank of Jiangsu Co. Ltd. Class A		19,080		19,516
Bank of Nanjing Co. Ltd. Class A		13,400		17,475
Bank of Ningbo Co. Ltd. Class A		8,510		33,803
Bank of Shanghai Co. Ltd. Class A		18,400		16,047
Bank of Suzhou Co. Ltd. Class A		4,700		4,764
Baoshan Iron & Steel Co. Ltd. Class A		28,800		26,151
BBMG Corp. Class A		10,000		3,566
BeiGene Ltd. *		13,289		221,192
Beijing Capital International Airport Co. Ltd. Class H *		40,000		29,460
Beijing Dabeinong Technology Group Co. Ltd. Class A *		5,800		6,594
Beijing Easpring Material Technology Co. Ltd. Class A		600		5,038
Beijing Enlight Media Co. Ltd. Class A		3,100		4,014
Beijing Enterprises Holdings Ltd.		11,000		39,595
Beijing Enterprises Water Group Ltd.		86,000		21,490
Beijing Kingsoft Office Software, Inc. Class A		428		29,469
Beijing New Building Materials PLC Class A		2,200		8,583
Beijing Shiji Information Technology Co. Ltd. Class A		2,268		8,474
Beijing Tongrentang Co. Ltd. Class A		1,800		14,452
Beijing United Information Technology Co. Ltd. Class A		680		8,212
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. Class A		780		13,184
Beijing Yanjing Brewery Co. Ltd. Class A		3,600		7,337
Beijing Yuanliu Hongyuan Electronic Technology Co. Ltd. Class A		300		3,366
Bethel Automotive Safety Systems Co. Ltd. Class A		600		6,226
Betta Pharmaceuticals Co. Ltd. Class A		600		5,140
BGI Genomics Co. Ltd. Class A		600		6,027
Bilibili, Inc. Class Z *		4,082		96,051
Bloomage Biotechnology Corp. Ltd. Class A		618		10,206
BOC Aviation Ltd. ~		4,500		34,897
BOC International China Co. Ltd. Class A		3,500		5,480
BOE Technology Group Co. Ltd. Class A		48,300		31,209
Bosideng International Holdings Ltd.		70,000		39,061
BTG Hotels Group Co. Ltd. Class A		1,400		4,759
By-health Co. Ltd. Class A		2,300		7,134

	Shares		Value
BYD Co. Ltd. Class A		2,300		$85,688
BYD Co. Ltd. Class H		18,000		529,491
BYD Electronic International Co. Ltd.		14,500		45,126
C&D International Investment Group Ltd.		14,000		45,979
Caitong Securities Co. Ltd. Class A		5,950		6,509
Canmax Technologies Co. Ltd. Class A		800		5,974
CECEP Solar Energy Co. Ltd. Class A		5,100		5,084
CECEP Wind-Power Corp. Class A		7,120		4,013
CETC Cyberspace Security Technology Co. Ltd. Class A		1,200		6,806
CGN Power Co. Ltd. Class H ~		228,000		54,586
Changchun High & New Technology Industry Group, Inc. Class A		500		11,891
Changjiang Securities Co. Ltd. Class A		7,800		6,325
Changzhou Xingyu Automotive Lighting Systems Co. Ltd. Class A		375		6,560
Chaozhou Three-Circle Group Co. Ltd. Class A		2,500		10,958
Chengtun Mining Group Co. Ltd. Class A		4,700		3,915
Chengxin Lithium Group Co. Ltd. Class A		1,200		6,028
China Baoan Group Co. Ltd. Class A		2,900		4,802
China Cinda Asset Management Co. Ltd. Class H		190,000		24,014
China CITIC Bank Corp. Ltd. Class H		192,000		96,588
China Coal Energy Co. Ltd. Class H		44,000		33,391
China Common Rich Renewable Energy Investments Ltd. * W ±		122,000		-
China Communications Services Corp. Ltd. Class H		52,000		25,587
China Conch Venture Holdings Ltd.		35,000		61,293
China Construction Bank Corp. Class A		12,800		11,066
China Construction Bank Corp. Class H		2,071,000		1,340,341
China CSSC Holdings Ltd. Class A		5,800		19,797
China Eastern Airlines Corp. Ltd. Class A *		14,700		11,018
China Energy Engineering Corp. Ltd.		41,700		14,631
China Everbright Bank Co. Ltd. Class A		58,000		25,406
China Everbright Bank Co. Ltd. Class H		61,000		18,505
China Everbright Environment Group Ltd.		79,000		33,884
China Feihe Ltd. ~		78,000		58,458
China Galaxy Securities Co. Ltd. Class A		4,400		6,437
China Galaxy Securities Co. Ltd. Class H		79,500		40,026
China Gas Holdings Ltd.		64,400		90,671
China Great Wall Securities Co. Ltd. Class A		4,300		5,191
China Greatwall Technology Group Co. Ltd. Class A		4,200		7,568
China Hongqiao Group Ltd.		50,500		48,530
China International Capital Corp. Ltd. Class A		1,500		8,495
China International Capital Corp. Ltd. Class H ~		32,800		65,808
China Jinmao Holdings Group Ltd.		129,624		25,235
China Jushi Co. Ltd. Class A		5,101		10,848
China Lesso Group Holdings Ltd.		23,000		20,551
China Life Insurance Co. Ltd. Class A		2,900		14,056
China Life Insurance Co. Ltd. Class H		163,000		267,494
China Literature Ltd. * ~		8,800		45,444
China Longyuan Power Group Corp. Ltd. Class H		72,000		82,139
China Medical System Holdings Ltd.		29,000		45,755
China Meheco Co. Ltd. Class A		2,100		4,204
China Meidong Auto Holdings Ltd.		14,000		30,196
China Mengniu Dairy Co. Ltd. *		68,000		278,762
China Merchants Bank Co. Ltd. Class A		25,600		127,492
China Merchants Bank Co. Ltd. Class H		85,000		431,631
China Merchants Energy Shipping Co. Ltd. Class A		10,500		10,716
China Merchants Port Holdings Co. Ltd.		31,192		47,886
China Merchants Securities Co. Ltd. Class A		9,500		19,067
China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A		10,000		19,765
China Minsheng Banking Corp. Ltd. Class A		80,700		40,543
China Minsheng Banking Corp. Ltd. Class H		87,500		29,982
China National Building Material Co. Ltd. Class H		84,000		69,042
China National Chemical Engineering Co. Ltd. Class A		7,900		10,669
China National Nuclear Power Co. Ltd. Class A		24,300		22,621
China National Software & Service Co. Ltd. Class A		900		9,031
China Northern Rare Earth Group High-Tech Co. Ltd. Class A		4,700		17,858

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

279

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
China Oilfield Services Ltd. Class H		40,000		$41,120
China Overseas Land & Investment Ltd.		82,500		199,029
China Overseas Property Holdings Ltd.		30,000		36,600
China Pacific Insurance Group Co. Ltd. Class A		8,000		30,187
China Pacific Insurance Group Co. Ltd. Class H		58,000		153,763
China Petroleum & Chemical Corp. Class A		36,200		29,587
China Petroleum & Chemical Corp. Class H		556,000		328,107
China Power International Development Ltd.		106,108		42,253
China Railway Group Ltd. Class A		24,600		24,620
China Railway Group Ltd. Class H		94,000		57,362
China Railway Signal & Communication Corp. Ltd. Class A		9,535		7,526
China Rare Earth Resources & Technology Co. Ltd. Class A *		1,400		6,881
China Resources Beer Holdings Co. Ltd.		34,000		273,136
China Resources Cement Holdings Ltd.		52,000		25,535
China Resources Gas Group Ltd.		19,900		73,200
China Resources Land Ltd.		70,000		318,768
China Resources Microelectronics Ltd. Class A		1,414		12,465
China Resources Mixc Lifestyle Services Ltd. ~		14,800		77,815
China Resources Pharmaceutical Group Ltd. ~		34,000		26,902
China Resources Power Holdings Co. Ltd.		42,000		89,611
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. Class A		1,300		10,868
China Ruyi Holdings Ltd. *		120,000		31,383
China Shenhua Energy Co. Ltd. Class A		7,500		30,730
China Shenhua Energy Co. Ltd. Class H		74,000		232,872
China Southern Airlines Co. Ltd. Class A *		12,700		14,548
China Southern Airlines Co. Ltd. Class H *		42,000		29,965
China State Construction Engineering Corp. Ltd. Class A		54,100		45,614
China State Construction International Holdings Ltd.		44,000		49,778
China Taiping Insurance Holdings Co. Ltd.		31,000		32,962
China Three Gorges Renewables Group Co. Ltd. Class A		36,800		29,368
China Tourism Group Duty Free Corp. Ltd. Class A		2,444		65,265
China Tourism Group Duty Free Corp. Ltd. Class H * ~		1,600		39,490
China Tower Corp. Ltd. Class H ~		954,000		115,463
China Traditional Chinese Medicine Holdings Co. Ltd.		60,000		31,435
China United Network Communications Ltd. Class A		41,100		32,426
China Vanke Co. Ltd. Class A		12,600		27,842
China Vanke Co. Ltd. Class H		45,000		71,008
China Yangtze Power Co. Ltd. Class A		29,400		90,865
China Zhenhua Group Science & Technology Co. Ltd. Class A		700		9,183
China Zheshang Bank Co. Ltd. Class A *		21,600		8,996
Chinasoft International Ltd. *		58,000		36,744
Chongqing Brewery Co. Ltd. Class A		600		10,924
Chongqing Changan Automobile Co. Ltd. Class A		10,696		18,604
Chongqing Fuling Zhacai Group Co. Ltd. Class A		1,000		3,686
Chongqing Rural Commercial Bank Co. Ltd. Class A		12,900		6,892
Chongqing Zhifei Biological Products Co. Ltd. Class A		2,100		25,093
Chow Tai Fook Jewellery Group Ltd. *		43,000		85,445
CITIC Ltd.		125,000		146,101
CITIC Securities Co. Ltd. Class A		14,480		43,216
CITIC Securities Co. Ltd. Class H		47,075		100,693
CMOC Group Ltd. Class A		19,000		16,546
CMOC Group Ltd. Class H		81,000		49,032
CNGR Advanced Material Co. Ltd. Class A		700		7,303
CNNC Hua Yuan Titanium Dioxide Co. Ltd. Class A		4,965		4,691
Contemporary Amperex Technology Co. Ltd. Class A		3,200		189,413
COSCO SHIPPING Development Co. Ltd. Class A		10,700		3,850
COSCO SHIPPING Energy Transportation Co. Ltd. Class A *		4,500		8,867
COSCO SHIPPING Holdings Co. Ltd. Class A		15,110		24,290
COSCO SHIPPING Holdings Co. Ltd. Class H		70,900		79,931

	Shares		Value
COSCO SHIPPING Ports Ltd.		40,000		$26,747
Country Garden Holdings Co. Ltd.		267,707		75,169
Country Garden Services Holdings Co. Ltd.		47,000		81,032
CRRC Corp. Ltd. Class A		28,200		25,135
CRRC Corp. Ltd. Class H		100,000		54,584
CSC Financial Co. Ltd. Class A		5,600		20,917
CSPC Pharmaceutical Group Ltd.		192,000		188,221
Daan Gene Co. Ltd. Class A		1,760		4,126
Dajin Heavy Industry Co. Ltd. Class A		800		4,098
Dali Foods Group Co. Ltd. ~		44,500		18,554
Daqin Railway Co. Ltd. Class A		19,200		20,109
Daqo New Energy Corp. ADR *		1,292		60,517
DaShenLin Pharmaceutical Group Co. Ltd. Class A		1,240		6,725
Datang International Power Generation Co. Ltd. Class A *		10,700		4,725
DHC Software Co. Ltd. Class A		3,700		4,479
Do-Fluoride Chemicals Co. Ltd. Class A		1,100		5,319
Dong-E-E-Jiao Co. Ltd. Class A		900		6,945
Dongfang Electric Corp. Ltd. Class A		3,600		9,939
Dongfeng Motor Group Co. Ltd. Class H		62,000		29,125
Dongxing Securities Co. Ltd. Class A		3,500		4,278
Dongyue Group Ltd.		32,000		33,075
East Buy Holding Ltd. * ~		8,500		36,384
East Money Information Co. Ltd. Class A		17,064		49,772
Ecovacs Robotics Co. Ltd. Class A		700		8,399
ENN Energy Holdings Ltd.		17,000		232,780
ENN Natural Gas Co. Ltd. Class A		3,300		10,011
Eve Energy Co. Ltd. Class A		2,600		26,405
Everbright Securities Co. Ltd. Class A		5,000		11,078
Fangda Carbon New Material Co. Ltd. Class A *		4,300		4,033
Far East Horizon Ltd.		33,000		29,634
FAW Jiefang Group Co. Ltd.		3,600		4,353
First Capital Securities Co. Ltd. Class A		6,000		5,214
Flat Glass Group Co. Ltd. Class A		2,100		10,491
Flat Glass Group Co. Ltd. Class H		9,000		25,742
Focus Media Information Technology Co. Ltd. Class A		18,600		18,579
Foshan Haitian Flavouring & Food Co. Ltd. Class A		5,024		55,952
Fosun International Ltd.		53,000		38,837
Foxconn Industrial Internet Co. Ltd. Class A		9,200		23,015
Fujian Sunner Development Co. Ltd. Class A		1,648		5,911
Fuyao Glass Industry Group Co. Ltd. Class A		1,900		9,614
Fuyao Glass Industry Group Co. Ltd. Class H ~		14,000		61,044
G-bits Network Technology Xiamen Co. Ltd. Class A		100		6,930
Ganfeng Lithium Group Co. Ltd. Class A		3,360		32,551
Ganfeng Lithium Group Co. Ltd. Class H ~		5,560		34,646
Gaona Aero Material Co. Ltd. Class A		600		3,293
GCL Technology Holdings Ltd. *		438,000		113,365
GD Power Development Co. Ltd. Class A *		23,000		12,735
GDS Holdings Ltd. Class A *		18,792		44,144
Geely Automobile Holdings Ltd.		130,000		167,521
GEM Co. Ltd. Class A		6,600		7,184
Gemdale Corp. Class A		6,100		7,432
Genscript Biotech Corp. *		26,000		55,623
GF Securities Co. Ltd. Class A		5,700		13,085
GF Securities Co. Ltd. Class H		26,800		37,906
GigaDevice Semiconductor, Inc. Class A		880		15,671
Ginlong Technologies Co. Ltd. Class A *		550		10,706
GoerTek, Inc. Class A		4,400		13,731
Gotion High-tech Co. Ltd. Class A		2,300		9,986
Great Wall Motor Co. Ltd. Class A		5,100		20,795
Great Wall Motor Co. Ltd. Class H		56,500		69,910
Gree Electric Appliances, Inc. of Zhuhai Class A		3,600		19,217
Greentown China Holdings Ltd.		19,000		24,591
Greentown Service Group Co. Ltd.		32,000		20,187
GRG Banking Equipment Co. Ltd. Class A		3,500		6,244
Guangdong Haid Group Co. Ltd. Class A		2,200		18,688
Guangdong HEC Technology Holding Co. Ltd. Class A		3,900		5,082
Guangdong Investment Ltd.		64,000		65,470

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

280

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Guangdong Kinlong Hardware Products Co. Ltd. Class A		400		$4,672
Guanghui Energy Co. Ltd. Class A		8,500		11,444
Guangzhou Automobile Group Co. Ltd. Class A		4,100		6,659
Guangzhou Automobile Group Co. Ltd. Class H		70,000		44,233
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class A		1,800		8,669
Guangzhou Great Power Energy & Technology Co. Ltd. Class A		600		4,973
Guangzhou Haige Communications Group, Inc. Co. Class A		2,600		3,977
Guangzhou Kingmed Diagnostics Group Co. Ltd. Class A		600		7,696
Guangzhou Shiyuan Electronic Technology Co. Ltd. Class A		900		9,805
Guangzhou Tinci Materials Technology Co. Ltd. Class A		2,460		15,043
Guangzhou Yuexiu Capital Holdings Group Co. Ltd. Class A		5,515		5,288
Guolian Securities Co. Ltd. Class A		3,500		5,402
Guosen Securities Co. Ltd. Class A		8,200		11,193
Guotai Junan Securities Co. Ltd. Class A		9,600		20,089
Guoyuan Securities Co. Ltd. Class A		6,200		6,106
H World Group Ltd. ADR *		4,159		203,708
Haidilao International Holding Ltd. * ~		24,000		65,045
Haier Smart Home Co. Ltd. Class A		6,700		22,096
Haier Smart Home Co. Ltd. Class H		51,000		159,695
Haitian International Holdings Ltd.		14,000		36,291
Haitong Securities Co. Ltd. Class A		9,400		12,070
Haitong Securities Co. Ltd. Class H		69,200		43,196
Hangzhou Binjiang Real Estate Group Co. Ltd. Class A		4,000		5,302
Hangzhou Chang Chuan Technology Co. Ltd. Class A		800		5,634
Hangzhou First Applied Material Co. Ltd. Class A		1,728		14,773
Hangzhou Lion Electronics Co. Ltd. Class A		900		7,150
Hangzhou Oxygen Plant Group Co. Ltd. Class A		1,300		6,303
Hangzhou Robam Appliances Co. Ltd. Class A		1,100		4,543
Hangzhou Silan Microelectronics Co. Ltd. Class A		1,800		9,710
Hangzhou Tigermed Consulting Co. Ltd. Class A		700		9,754
Hangzhou Tigermed Consulting Co. Ltd. Class H ~		2,300		21,670
Hansoh Pharmaceutical Group Co. Ltd. ~		26,000		45,071
Heilongjiang Agriculture Co. Ltd. Class A		2,600		5,089
Henan Shenhuo Coal & Power Co. Ltd. Class A		2,900		7,462
Henan Shuanghui Investment & Development Co. Ltd. Class A		4,470		16,868
Hengan International Group Co. Ltd.		14,000		64,849
Hengdian Group DMEGC Magnetics Co. Ltd. Class A		2,100		6,280
Hengli Petrochemical Co. Ltd. Class A		7,600		17,932
Hengtong Optic-electric Co. Ltd. Class A		3,100		6,816
Hengyi Petrochemical Co. Ltd. Class A		4,700		5,554
Hesteel Co. Ltd. Class A		12,225		4,146
Hithink RoyalFlush Information Network Co. Ltd. Class A		700		20,850
Hongfa Technology Co. Ltd. Class A		720		3,418
Hoshine Silicon Industry Co. Ltd. Class A		1,000		12,094
Hua Hong Semiconductor Ltd. * ~		13,000		57,641
Huadian Power International Corp. Ltd. Class A		10,500		8,855
Huadong Medicine Co. Ltd. Class A		2,300		15,510
Huafon Chemical Co. Ltd. Class A		6,700		7,281
Huaibei Mining Holdings Co. Ltd. Class A		3,200		6,312
Hualan Biological Engineering, Inc. Class A		2,500		7,963
Huaneng Power International, Inc. Class A *		10,800		13,472
Huaneng Power International, Inc. Class H *		90,000		47,279
Huatai Securities Co. Ltd. Class A		8,300		15,441
Huatai Securities Co. Ltd. Class H ~		35,600		40,639
Huaxi Securities Co. Ltd. Class A		3,600		4,311
Huaxia Bank Co. Ltd. Class A		17,200		13,480
Huaxin Cement Co. Ltd. Class A		1,900		4,299
Huayu Automotive Systems Co. Ltd. Class A		4,100		9,985
Hubei Feilihua Quartz Glass Co. Ltd. Class A		700		4,478

	Shares		Value
Hubei Jumpcan Pharmaceutical Co. Ltd. Class A		1,200		$4,982
Hubei Xingfa Chemicals Group Co. Ltd. Class A		1,500		6,657
Huizhou Desay Sv Automotive Co. Ltd. Class A		700		11,299
Humanwell Healthcare Group Co. Ltd. Class A		2,200		8,570
Hunan Changyuan Lico Co. Ltd. Class A		2,469		5,402
Hunan Valin Steel Co. Ltd. Class A		9,200		7,459
Hundsun Technologies, Inc. Class A		2,476		19,188
Hygeia Healthcare Holdings Co. Ltd. * ~		7,400		52,766
Iflytek Co. Ltd. Class A		3,000		27,798
Imeik Technology Development Co. Ltd. Class A		300		24,405
Industrial & Commercial Bank of China Ltd. Class A		72,800		47,269
Industrial & Commercial Bank of China Ltd. Class H		1,226,000		651,544
Industrial Bank Co. Ltd. Class A		26,861		66,119
Industrial Securities Co. Ltd. Class A		10,960		9,765
Ingenic Semiconductor Co. Ltd. Class A		600		7,786
Inner Mongolia BaoTou Steel Union Co. Ltd. Class A		59,000		16,242
Inner Mongolia Dian Tou Energy Corp. Ltd. Class A		2,500		4,891
Inner Mongolia ERDOS Resources Co. Ltd. Class A		1,680		3,754
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. Class A		11,600		7,629
Inner Mongolia Yili Industrial Group Co. Ltd. Class A		8,300		35,110
Inner Mongolia Yitai Coal Co. Ltd. Class B		22,900		33,658
Inner Mongolia Yuan Xing Energy Co. Ltd. Class A		5,100		6,404
Innovent Biologics, Inc. * ~		23,000		103,167
Inspur Electronic Information Industry Co. Ltd. Class A		1,900		9,730
iQIYI, Inc. ADR *		9,370		68,214
JA Solar Technology Co. Ltd. Class A		3,040		25,309
Jafron Biomedical Co. Ltd. Class A		900		3,975
Jason Furniture Hangzhou Co. Ltd. Class A		1,110		6,553
JCET Group Co. Ltd. Class A		2,300		10,883
JD Health International, Inc. * ~		23,950		177,588
JD.com, Inc. Class A		46,575		1,017,021
Jiangsu Eastern Shenghong Co. Ltd. Class A		5,300		10,492
Jiangsu Expressway Co. Ltd. Class H		26,000		24,179
Jiangsu Hengli Hydraulic Co. Ltd. Class A		1,700		16,388
Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class A		8,200		51,088
Jiangsu King’s Luck Brewery JSC Ltd. Class A		1,600		15,097
Jiangsu Pacific Quartz Co. Ltd. Class A		500		8,986
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A		1,900		45,608
Jiangsu Yangnong Chemical Co. Ltd. Class A		400		5,655
Jiangsu Yoke Technology Co. Ltd. Class A		600		4,554
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. Class A		1,200		5,556
Jiangsu Zhongtian Technology Co. Ltd. Class A		4,400		10,955
Jiangxi Copper Co. Ltd. Class A		800		2,303
Jiangxi Copper Co. Ltd. Class H		27,000		45,711
Jiangxi Special Electric Motor Co. Ltd. Class A *		2,200		4,935
JiuGui Liquor Co. Ltd. Class A		400		7,517
Jiumaojiu International Holdings Ltd. ~		16,000		38,037
Jizhong Energy Resources Co. Ltd. Class A		4,700		4,677
Joincare Pharmaceutical Group Industry Co. Ltd. Class A		2,700		5,179
Joinn Laboratories China Co. Ltd. Class A		620		4,725
Jointown Pharmaceutical Group Co. Ltd. Class A		2,500		5,435
Jonjee Hi-Tech Industrial And Commercial Holding Co. Ltd. Class A		1,100		5,947
JOYY, Inc. ADR		1,007		31,398
Juewei Food Co. Ltd. Class A		700		4,471
Juneyao Airlines Co. Ltd. Class A *		2,400		6,289
Kanzhun Ltd. ADR *		3,925		74,693
KE Holdings, Inc. ADR *		14,354		270,429
Keda Industrial Group Co. Ltd.		2,500		5,259
Kingboard Holdings Ltd.		14,500		44,585
Kingdee International Software Group Co. Ltd. *		56,000		90,461
Kingsoft Corp. Ltd.		20,600		101,268
Kuaishou Technology * ~		38,100		292,963
Kuang-Chi Technologies Co. Ltd. Class A		3,000		7,247
Kunlun Energy Co. Ltd.		84,000		65,581

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

281

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Kweichow Moutai Co. Ltd. Class A		1,600		$422,655
LB Group Co. Ltd. Class A		3,100		9,124
Lenovo Group Ltd.		156,000		169,013
Lens Technology Co. Ltd. Class A		6,400		12,583
Lepu Medical Technology Beijing Co. Ltd. Class A		2,300		7,755
Li Auto, Inc. Class A *		24,246		303,222
Li Ning Co. Ltd.		51,000		401,059
Liaoning Port Co. Ltd. Class A		24,200		5,638
Lingyi iTech Guangdong Co. Class A *		9,600		8,653
Livzon Pharmaceutical Group, Inc. Class A		700		3,806
Longfor Group Holdings Ltd. ~		40,500		114,225
LONGi Green Energy Technology Co. Ltd. Class A		9,802		57,678
Lufax Holding Ltd. ADR		14,765		30,121
Luoyang Xinqianglian Slewing Bearing Co. Ltd. Class A		340		2,253
Luxi Chemical Group Co. Ltd. Class A		2,600		5,162
Luxshare Precision Industry Co. Ltd. Class A		9,200		40,640
Luzhou Laojiao Co. Ltd. Class A		1,900		70,168
Mango Excellent Media Co. Ltd. Class A		2,400		13,012
Maxscend Microelectronics Co. Ltd. Class A		680		12,330
Meihua Holdings Group Co. Ltd. Class A		3,900		5,554
Meinian Onehealth Healthcare Holdings Co. Ltd. Class A *		4,300		4,711
Meituan Class B * ~		104,890		1,902,937
Metallurgical Corp. of China Ltd. Class A		23,000		13,052
Microport Scientific Corp. *		13,800		32,502
Ming Yang Smart Energy Group Ltd. Class A		2,900		9,516
MINISO Group Holding Ltd. ADR		2,046		36,296
Minth Group Ltd.		16,000		48,563
Montage Technology Co. Ltd. Class A		1,462		14,832
Muyuan Foods Co. Ltd. Class A		6,860		48,853
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd. Class A		2,343		5,565
NARI Technology Co. Ltd. Class A		8,632		34,034
NAURA Technology Group Co. Ltd. Class A		700		27,163
NavInfo Co. Ltd. Class A		3,400		6,701
NetEase, Inc.		42,405		748,570
New China Life Insurance Co. Ltd. Class A		4,900		21,724
New China Life Insurance Co. Ltd. Class H		15,000		35,625
New Hope Liuhe Co. Ltd. Class A *		5,900		11,362
New Oriental Education & Technology Group, Inc. *		32,900		126,256
Ninestar Corp. Class A		1,800		11,755
Ningbo Deye Technology Co. Ltd. Class A		300		11,293
Ningbo Joyson Electronic Corp. Class A *		1,700		3,777
Ningbo Orient Wires & Cables Co. Ltd. Class A		900		6,452
Ningbo Ronbay New Energy Technology Co. Ltd. Class A		579		5,782
Ningbo Shanshan Co. Ltd. Class A		2,900		7,282
Ningbo Tuopu Group Co. Ltd. Class A		1,400		13,120
Ningxia Baofeng Energy Group Co. Ltd. Class A		9,500		20,416
NIO, Inc. ADR *		29,503		310,077
Nongfu Spring Co. Ltd. Class H ~		38,000		219,101
North Industries Group Red Arrow Co. Ltd. Class A		1,800		5,986
Offcn Education Technology Co. Ltd. Class A *		7,900		5,615
Offshore Oil Engineering Co. Ltd. Class A		5,200		4,639
Oppein Home Group, Inc. Class A		700		12,314
Orient Securities Co. Ltd. Class A		9,592		13,683
Ovctek China, Inc. Class A		1,120		5,399
Pangang Group Vanadium Titanium & Resources Co. Ltd. Class A *		11,100		7,977
PDD Holdings, Inc. ADR *		10,893		826,779
People’s Insurance Co. Group of China Ltd. Class A		46,500		35,212
People’s Insurance Co. Group of China Ltd. Class H		94,000		31,366
Perfect World Co. Ltd. Class A		2,497		6,186
PetroChina Co. Ltd. Class A		22,900		19,718
PetroChina Co. Ltd. Class H		462,000		272,919
Pharmaron Beijing Co. Ltd. Class A		1,300		9,271
Pharmaron Beijing Co. Ltd. Class H ~		4,200		17,577
PICC Property & Casualty Co. Ltd. Class H		148,000		150,976
Ping An Bank Co. Ltd. Class A		25,000		45,556
Ping An Healthcare and Technology Co. Ltd. * ~		10,800		27,196

	Shares		Value
Ping An Insurance Group Co. of China Ltd. Class A		13,400		$88,770
Ping An Insurance Group Co. of China Ltd. Class H		137,000		886,282
Pingdingshan Tianan Coal Mining Co. Ltd. Class A		3,100		4,672
Poly Developments & Holdings Group Co. Ltd. Class A		15,400		31,617
Pop Mart International Group Ltd. ~		11,800		32,133
Porton Pharma Solutions Ltd. Class A		700		3,778
Postal Savings Bank of China Co. Ltd. Class A		27,700		18,756
Postal Savings Bank of China Co. Ltd. Class H ~		179,000		106,157
Power Construction Corp. of China Ltd. Class A		22,200		23,020
Proya Cosmetics Co. Ltd. Class A		180		4,766
Pylon Technologies Co. Ltd. Class A		226		8,081
Qinghai Salt Lake Industry Co. Ltd. Class A *		7,000		22,770
Raytron Technology Co. Ltd. Class A		570		4,060
Risen Energy Co. Ltd. Class A *		1,500		6,089
Riyue Heavy Industry Co. Ltd. Class A		1,200		3,887
Rongsheng Petrochemical Co. Ltd. Class A		13,097		28,863
SAIC Motor Corp. Ltd. Class A		10,100		21,137
Sailun Group Co. Ltd. Class A		4,000		6,303
Sangfor Technologies, Inc. Class A		500		10,782
Sany Heavy Equipment International Holdings Co. Ltd.		24,000		24,946
Sany Heavy Industry Co. Ltd. Class A		11,000		27,334
Satellite Chemical Co. Ltd. Class A		4,298		10,000
SDIC Capital Co. Ltd. Class A		8,200		8,282
Sealand Securities Co. Ltd. Class A		6,700		3,315
Seazen Holdings Co. Ltd. Class A *		3,014		7,147
SF Holding Co. Ltd. Class A		6,300		50,719
SG Micro Corp. Class A		475		10,748
Shaanxi Coal Industry Co. Ltd. Class A		12,500		36,997
Shan Xi Hua Yang Group New Energy Co. Ltd. Class A		3,100		6,225
Shandong Buchang Pharmaceuticals Co. Ltd. Class A		1,200		3,464
Shandong Gold Mining Co. Ltd. Class A		3,500		11,220
Shandong Gold Mining Co. Ltd. Class H ~		17,750		36,064
Shandong Hualu Hengsheng Chemical Co. Ltd. Class A		2,710		13,904
Shandong Linglong Tyre Co. Ltd. Class A		2,100		5,979
Shandong Nanshan Aluminum Co. Ltd. Class A		15,800		7,797
Shandong Sun Paper Industry JSC Ltd. Class A		3,800		6,735
Shandong Weifang Rainbow Chemical Co. Ltd. Class A		400		3,986
Shandong Weigao Group Medical Polymer Co. Ltd. Class H		53,600		85,648
Shanghai Aiko Solar Energy Co. Ltd. Class A *		1,700		8,205
Shanghai Bairun Investment Holding Group Co. Ltd. Class A		1,316		7,832
Shanghai Baosight Software Co. Ltd. Class A		2,047		17,349
Shanghai Baosight Software Co. Ltd. Class B		10,390		34,354
Shanghai Construction Group Co. Ltd. Class A		12,800		5,089
Shanghai Electric Group Co. Ltd. Class A *		16,300		10,493
Shanghai Electric Power Co. Ltd. Class A *		3,600		5,205
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class A		4,800		22,659
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class H		7,000		19,902
Shanghai Friendess Electronic Technology Corp. Ltd. Class A		96		2,561
Shanghai Fudan Microelectronics Group Co. Ltd. Class A		729		6,949
Shanghai Fudan Microelectronics Group Co. Ltd. Class H		6,000		22,171
Shanghai International Airport Co. Ltd. Class A *		1,600		12,981
Shanghai International Port Group Co. Ltd. Class A		12,000		9,688
Shanghai Jinjiang International Hotels Co. Ltd. Class A		1,200		10,992
Shanghai Junshi Biosciences Co. Ltd. Class A *		985		6,876
Shanghai Lingang Holdings Corp. Ltd. Class A		3,500		6,472
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class B		23,700		18,321
Shanghai M&G Stationery, Inc. Class A		1,200		8,575

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

282

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PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Shanghai Medicilon, Inc. Class A		78		$1,773
Shanghai Pharmaceuticals Holding Co. Ltd. Class A		2,000		5,929
Shanghai Pharmaceuticals Holding Co. Ltd. Class H		19,400		36,229
Shanghai Pudong Development Bank Co. Ltd. Class A		37,936		39,703
Shanghai Putailai New Energy Technology Co. Ltd. Class A		1,820		13,248
Shanghai RAAS Blood Products Co. Ltd. Class A		8,600		8,047
Shanghai Rural Commercial Bank Co. Ltd. Class A		12,500		10,483
Shanghai Yuyuan Tourist Mart Group Co. Ltd. Class A		5,200		6,150
Shanxi Coking Coal Energy Group Co. Ltd. Class A		5,300		8,479
Shanxi Lu’an Environmental Energy Development Co. Ltd. Class A		3,900		12,434
Shanxi Meijin Energy Co. Ltd. Class A		5,700		7,624
Shanxi Securities Co. Ltd. Class A		3,800		3,214
Shanxi Taigang Stainless Steel Co. Ltd. Class A		6,200		3,919
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. Class A		1,540		60,897
Shenghe Resources Holding Co. Ltd. Class A		2,300		4,741
Shengyi Technology Co. Ltd. Class A		3,000		8,070
Shennan Circuits Co. Ltd. Class A		700		9,415
Shenwan Hongyuan Group Co. Ltd. Class A		28,900		17,551
Shenzhen Capchem Technology Co. Ltd. Class A		920		6,553
Shenzhen Dynanonic Co. Ltd. Class A		200		5,528
Shenzhen Energy Group Co. Ltd. Class A		6,200		5,518
Shenzhen Inovance Technology Co. Ltd. Class A		3,450		35,344
Shenzhen International Holdings Ltd.		31,118		27,534
Shenzhen Kangtai Biological Products Co. Ltd. Class A		1,460		6,725
Shenzhen Kedali Industry Co. Ltd. Class A		300		5,664
Shenzhen Kstar Science & Technology Co. Ltd. Class A		800		5,445
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A		1,600		72,595
Shenzhen New Industries Biomedical Engineering Co. Ltd. Class A		1,000		8,902
Shenzhen Overseas Chinese Town Co. Ltd. Class A		11,200		7,861
Shenzhen Salubris Pharmaceuticals Co. Ltd. Class A		1,500		7,727
Shenzhen SC New Energy Technology Corp. Class A		500		8,332
Shenzhen Senior Technology Material Co. Ltd. Class A		1,698		4,763
Shenzhen Sunlord Electronics Co. Ltd. Class A		1,200		4,569
Shenzhen Transsion Holdings Co. Ltd. Class A		1,037		15,283
Shenzhen YUTO Packaging Technology Co. Ltd. Class A		1,200		4,867
Shenzhou International Group Holdings Ltd.		17,800		186,725
Shijiazhuang Yiling Pharmaceutical Co. Ltd. Class A		2,120		8,975
Sichuan Chuantou Energy Co. Ltd. Class A		4,800		9,249
Sichuan Hebang Biotechnology Co. Ltd. Class A		9,900		4,316
Sichuan Kelun Pharmaceutical Co. Ltd. Class A		2,000		8,284
Sichuan New Energy Power Co. Ltd. *		2,000		4,643
Sichuan Road & Bridge Co. Ltd. Class A		6,700		13,455
Sichuan Swellfun Co. Ltd. Class A		582		6,376
Sichuan Yahua Industrial Group Co. Ltd. Class A		1,300		4,012
Sieyuan Electric Co. Ltd. Class A		1,000		6,655
Silergy Corp.		7,000		111,136
Sinoma Science & Technology Co. Ltd. Class A		2,300		8,086
Sinomine Resource Group Co. Ltd. Class A		620		6,352
Sinopec Shanghai Petrochemical Co. Ltd. Class A		10,100		4,966
Sinopharm Group Co. Ltd. Class H		28,800		87,027
Skshu Paint Co. Ltd. Class A *		520		8,808
Smoore International Holdings Ltd. ~		39,000		49,927
Songcheng Performance Development Co. Ltd. Class A		3,600		8,540
SooChow Securities Co. Ltd. Class A		6,910		6,957

	Shares		Value
Southwest Securities Co. Ltd. Class A		9,800		$5,554
StarPower Semiconductor Ltd. Class A		200		8,004
Sungrow Power Supply Co. Ltd. Class A		1,900		29,055
Sunny Optical Technology Group Co. Ltd.		15,400		185,826
Sunwoda Electronic Co. Ltd. Class A		2,200		6,458
Suzhou Dongshan Precision Manufacturing Co. Ltd. Class A		2,200		9,707
Suzhou Maxwell Technologies Co. Ltd. Class A		260		11,540
TAL Education Group ADR *		9,717		62,286
Tangshan Jidong Cement Co. Ltd. Class A		3,300		4,167
TBEA Co. Ltd. Class A		5,000		15,794
TCL Technology Group Corp. Class A		22,000		14,177
TCL Zhonghuan Renewable Energy Technology Co. Ltd. Class A		4,200		29,593
Tencent Holdings Ltd.		134,100		6,553,372
Tencent Music Entertainment Group ADR *		15,333		126,957
Thunder Software Technology Co. Ltd. Class A		600		9,469
Tianjin 712 Communication & Broadcasting Co. Ltd. Class A		900		4,054
Tianma Microelectronics Co. Ltd. Class A		2,700		4,134
Tianqi Lithium Corp. Class A *		1,900		20,917
Tianshan Aluminum Group Co. Ltd. Class A		5,000		5,518
Tianshui Huatian Technology Co. Ltd. Class A		4,400		6,483
Tibet Summit Resources Co. Ltd. Class A *		1,000		3,335
Tingyi Cayman Islands Holding Corp.		42,000		70,285
Titan Wind Energy Suzhou Co. Ltd. Class A		2,400		5,155
Toly Bread Co. Ltd. Class A		1,568		3,553
Tongcheng Travel Holdings Ltd. *		26,400		57,466
TongFu Microelectronics Co. Ltd. Class A *		2,000		6,477
Tongkun Group Co. Ltd. Class A		3,100		6,479
Tongling Nonferrous Metals Group Co. Ltd. Class A		13,600		6,366
Tongwei Co. Ltd. Class A		5,800		32,863
Topchoice Medical Corp. Class A *		400		7,522
Topsports International Holdings Ltd. ~		40,000		36,462
TravelSky Technology Ltd. Class H		20,000		37,267
Trina Solar Co. Ltd. Class A		2,801		21,221
Trip.com Group Ltd. ADR *		11,749		442,585
Tsingtao Brewery Co. Ltd. Class A		700		12,284
Tsingtao Brewery Co. Ltd. Class H		14,000		153,023
Uni-President China Holdings Ltd.		28,000		28,240
Unigroup Guoxin Microelectronics Co. Ltd. Class A		1,139		18,424
Unisplendour Corp. Ltd. Class A		3,700		15,799
Vipshop Holdings Ltd. ADR *		9,010		136,772
Walvax Biotechnology Co. Ltd. Class A		2,100		10,530
Wanda Film Holding Co. Ltd. Class A *		2,800		5,830
Wanhua Chemical Group Co. Ltd. Class A		4,100		57,145
Want Want China Holdings Ltd.		102,000		65,626
Weibo Corp. ADR *		1,526		30,612
Weichai Power Co. Ltd. Class A		6,500		11,937
Weichai Power Co. Ltd. Class H		45,000		72,208
Weihai Guangwei Composites Co. Ltd. Class A		600		4,459
Wens Foodstuffs Group Co. Ltd. Class A		8,500		25,321
Western Mining Co. Ltd. Class A		3,100		5,708
Western Securities Co. Ltd. Class A		6,400		5,934
Western Superconducting Technologies Co. Ltd. Class A		502		5,970
Will Semiconductor Co. Ltd. Class A		1,480		19,678
Wingtech Technology Co. Ltd. Class A		1,600		12,898
Wuchan Zhongda Group Co. Ltd. Class A		6,000		4,237
Wuhan DR Laser Technology Corp. Ltd. Class A		200		3,149
Wuhan Guide Infrared Co. Ltd. Class A		4,196		7,393
Wuliangye Yibin Co. Ltd. Class A		5,000		142,852
WUS Printed Circuit Kunshan Co. Ltd. Class A		2,700		8,451
WuXi AppTec Co. Ltd. Class A		3,100		35,847
WuXi AppTec Co. Ltd. Class H ~		7,840		82,107
Wuxi Biologics Cayman, Inc. * ~		77,500		477,552
Wuxi Shangji Automation Co. Ltd. Class A		520		7,736
XCMG Construction Machinery Co. Ltd. Class A		15,200		15,334
Xiamen C & D, Inc. Class A		4,000		7,014
Xiamen Faratronic Co. Ltd. Class A		300		6,383
Xiamen Tungsten Co. Ltd. Class A		1,600		4,746
Xiaomi Corp. Class B * ~		328,000		504,776

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

283

PACIFIC SELECT FUND

PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Xinjiang Goldwind Science & Technology Co. Ltd. Class A		4,400		$7,077
Xinjiang Zhongtai Chemical Co. Ltd. Class A		3,100		3,272
Xinyi Solar Holdings Ltd.		106,081		127,170
XPeng, Inc. Class A *		18,408		102,180
Xtep International Holdings Ltd.		28,500		36,299
Yadea Group Holdings Ltd. ~		26,000		66,974
Yangzhou Yangjie Electronic Technology Co. Ltd. Class A		700		5,611
Yankuang Energy Group Co. Ltd. Class A		2,800		14,508
Yankuang Energy Group Co. Ltd. Class H		34,000		121,735
Yantai Jereh Oilfield Services Group Co. Ltd. Class A		1,400		5,769
Yealink Network Technology Corp. Ltd. Class A		1,200		13,298
Yifeng Pharmacy Chain Co. Ltd. Class A		980		8,263
Yihai International Holding Ltd. *		10,000		29,381
Yihai Kerry Arawana Holdings Co. Ltd. Class A		1,900		11,916
Yintai Gold Co. Ltd. Class A		3,800		7,274
YongXing Special Materials Technology Co. Ltd. Class A		500		6,131
Yonyou Network Technology Co. Ltd. Class A		4,400		16,133
Youngor Group Co. Ltd. Class A		5,900		5,601
Youngy Co. Ltd. Class A *		300		3,314
YTO Express Group Co. Ltd. Class A		4,400		11,718
Yuan Longping High-tech Agriculture Co. Ltd. Class A *		1,500		3,626
Yuexiu Property Co. Ltd.		29,600		44,756
Yum China Holdings, Inc.		9,012		571,271
Yunda Holding Co. Ltd. Class A		3,700		6,364
Yunnan Aluminium Co. Ltd. Class A		4,600		9,103
Yunnan Baiyao Group Co. Ltd. Class A		2,260		17,988
Yunnan Botanee Bio-Technology Group Co. Ltd. Class A		400		7,457
Yunnan Energy New Material Co. Ltd. Class A		1,200		19,913
Yunnan Tin Co. Ltd. Class A		1,800		3,886
Yunnan Yuntianhua Co. Ltd. Class A *		2,400		7,415
Zai Lab Ltd. ADR *		1,898		63,127
Zangge Mining Co. Ltd. Class A		2,000		7,041
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. Class A		800		33,096
Zhaojin Mining Industry Co. Ltd. Class H *		25,500		38,670
Zhefu Holding Group Co. Ltd. Class A		7,800		4,624
Zhejiang Century Huatong Group Co. Ltd. Class A *		10,020		8,794
Zhejiang China Commodities City Group Co. Ltd. Class A		8,000		6,733
Zhejiang Chint Electrics Co. Ltd. Class A		2,800		11,402
Zhejiang Dahua Technology Co. Ltd. Class A		2,800		9,217
Zhejiang Dingli Machinery Co. Ltd. Class A		700		5,584
Zhejiang Expressway Co. Ltd. Class H		30,000		23,868
Zhejiang HangKe Technology, Inc. Co. Class A		553		3,622
Zhejiang Huahai Pharmaceutical Co. Ltd. Class A		2,100		6,164
Zhejiang Huayou Cobalt Co. Ltd. Class A		2,075		16,627
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. Class A		1,700		16,211
Zhejiang Jiuzhou Pharmaceutical Co. Ltd. Class A		1,200		5,808
Zhejiang Juhua Co. Ltd. Class A		3,500		9,002
Zhejiang NHU Co. Ltd. Class A		4,004		10,458
Zhejiang Supcon Technology Co. Ltd. Class A		447		6,779
Zhejiang Supor Co. Ltd. Class A		600		4,723
Zhejiang Weiming Environment Protection Co. Ltd. Class A		2,420		6,427
Zhejiang Weixing New Building Materials Co. Ltd. Class A		2,000		7,062
Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd. Class A		700		4,850
Zhejiang Yongtai Technology Co. Ltd. Class A		1,000		3,050
Zheshang Securities Co. Ltd. Class A		4,900		7,191
ZhongAn Online P&C Insurance Co. Ltd. Class H * ~		15,300		48,080
Zhongji Innolight Co. Ltd. Class A		900		7,714
Zhongsheng Group Holdings Ltd.		13,000		64,056
Zhongtai Securities Co. Ltd. Class A		8,000		7,811

	Shares		Value
Zhuzhou CRRC Times Electric Co. Ltd.		12,100		$52,645
Zhuzhou CRRC Times Electric Co. Ltd. Class A		532		3,702
Zhuzhou Hongda Electronics Corp. Ltd. Class A		600		3,989
Zhuzhou Kibing Group Co. Ltd. Class A		3,900		5,929
Zibo Qixiang Tengda Chemical Co. Ltd. Class A *		3,500		3,653
Zijin Mining Group Co. Ltd. Class A		24,100		43,306
Zijin Mining Group Co. Ltd. Class H		126,000		210,213
Zoomlion Heavy Industry Science & Technology Co. Ltd. Class A		9,100		8,227
ZTE Corp. Class A		4,500		21,327
ZTE Corp. Class H		17,400		50,997
ZTO Express Cayman, Inc. ADR		9,101		260,835
				45,893,650
Colombia - 0.0%
Bancolombia SA		5,490		41,248
Interconexion Electrica SA ESP		9,542		31,042
				72,290
Czech Republic - 0.2%
CEZ AS		3,476		168,821
Komercni banka AS		1,636		54,284
Moneta Money Bank AS ~		7,149		28,691
				251,796
Egypt - 0.1%
Commercial International Bank Egypt SAE		54,598		90,367
Eastern Co. SAE		22,277		12,684
Egyptian Financial Group-Hermes Holding Co. *		16,282		8,865
				111,916
Greece - 0.4%
Alpha Services and Holdings SA *		48,042		59,045
Eurobank Ergasias Services and Holdings SA *		55,961		74,147
Hellenic Telecommunications Organization SA		4,287		62,787
JUMBO SA		2,492		52,880
Motor Oil Hellas Corinth Refineries SA		1,312		33,676
Mytilineos SA		2,155		61,435
National Bank of Greece SA *		11,820		57,552
OPAP SA *		4,303		69,016
Public Power Corp. SA *		4,529		39,420
Terna Energy SA		1,246		26,545
				536,503
Hong Kong - 0.2%
Kingboard Laminates Holdings Ltd.		20,000		20,905
Nine Dragons Paper Holdings Ltd.		35,000		26,204
Orient Overseas International Ltd.		3,000		57,586
Sino Biopharmaceutical Ltd.		223,000		124,991
Vinda International Holdings Ltd.		8,000		19,307
				248,993
Hungary - 0.2%
MOL Hungarian Oil & Gas PLC		8,828		64,655
OTP Bank Nyrt		4,825		137,751
Richter Gedeon Nyrt		3,009		62,825
				265,231
India - 12.7%
ABB India Ltd.		1,141		46,814
ACC Ltd.		1,414		28,778
Adani Enterprises Ltd.		3,683		78,811
Adani Green Energy Ltd. *		6,823		73,251
Adani Ports & Special Economic Zone Ltd.		11,373		87,837
Adani Power Ltd. *		16,612		38,788
Adani Total Gas Ltd.		5,921		62,438
Adani Transmission Ltd. *		6,006		72,667
Ambuja Cements Ltd. *		12,827		57,270

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

284

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Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Apollo Hospitals Enterprise Ltd.		2,167		$113,964
Asian Paints Ltd.		8,261		278,327
AU Small Finance Bank Ltd. ~		3,586		25,370
Aurobindo Pharma Ltd.		5,669		35,826
Avenue Supermarts Ltd. * ~		3,488		144,738
Axis Bank Ltd.		48,993		513,288
Bajaj Auto Ltd.		1,463		69,207
Bajaj Finance Ltd.		5,868		402,631
Bajaj Finserv Ltd.		8,232		127,368
Bajaj Holdings & Investment Ltd.		575		41,512
Balkrishna Industries Ltd.		1,666		39,667
Bandhan Bank Ltd. * ~		13,874		33,169
Bank of Baroda		22,273		45,940
Berger Paints India Ltd.		5,234		37,119
Bharat Electronics Ltd.		78,673		93,635
Bharat Forge Ltd.		5,517		51,864
Bharat Petroleum Corp. Ltd.		18,690		78,453
Bharti Airtel Ltd.		47,929		437,089
Britannia Industries Ltd.		2,335		123,079
CG Power & Industrial Solutions Ltd.		13,152		48,118
Cholamandalam Investment and Finance Co. Ltd.		8,847		82,203
Cipla Ltd.		10,424		114,410
Coal India Ltd.		33,184		86,504
Colgate-Palmolive India Ltd.		2,635		48,384
Container Corp. Of India Ltd.		5,903		41,774
Dabur India Ltd.		13,349		88,637
Divi’s Laboratories Ltd.		2,858		98,411
DLF Ltd.		13,314		58,015
Dr Reddy’s Laboratories Ltd.		2,509		141,479
Eicher Motors Ltd.		2,945		105,818
GAIL India Ltd.		49,575		63,622
Godrej Consumer Products Ltd. *		8,807		103,950
Godrej Properties Ltd. *		2,693		33,910
Grasim Industries Ltd.		5,674		112,941
Havells India Ltd.		5,398		78,268
HCL Technologies Ltd.		20,458		271,592
HDFC Life Insurance Co. Ltd. ~		20,828		126,659
Hero MotoCorp Ltd.		2,368		67,803
Hindalco Industries Ltd.		29,050		144,033
Hindustan Petroleum Corp. Ltd.		13,747		39,710
Hindustan Unilever Ltd.		17,711		553,102
Housing Development Finance Corp. Ltd.		37,226		1,193,765
ICICI Bank Ltd.		111,159		1,187,894
ICICI Lombard General Insurance Co. Ltd. ~		5,184		67,564
ICICI Prudential Life Insurance Co. Ltd. ~		7,744		41,151
Indian Hotels Co. Ltd.		18,351		72,649
Indian Oil Corp. Ltd.		60,839		57,791
Indian Railway Catering & Tourism Corp. Ltd.		5,167		36,112
Indraprastha Gas Ltd.		6,783		35,451
Indus Towers Ltd.		14,499		25,276
Info Edge India Ltd.		1,528		69,499
Infosys Ltd.		72,507		1,267,650
InterGlobe Aviation Ltd. * ~		2,076		48,369
ITC Ltd.		64,153		300,164
Jindal Steel & Power Ltd.		7,695		51,350
JSW Steel Ltd.		15,625		131,198
Jubilant Foodworks Ltd.		8,503		45,671
Kotak Mahindra Bank Ltd.		11,977		253,156
Larsen & Toubro Ltd.		14,832		391,510
LTIMindtree Ltd. ~		1,911		111,282
Lupin Ltd.		4,404		34,799
Mahindra & Mahindra Ltd.		18,745		264,894
Marico Ltd.		11,142		65,160
Maruti Suzuki India Ltd.		2,603		263,238
Mphasis Ltd.		1,824		40,098
MRF Ltd.		41		41,993
Muthoot Finance Ltd.		2,593		31,007
Nestle India Ltd.		727		174,558
NTPC Ltd.		83,537		178,347
Oil & Natural Gas Corp. Ltd.		54,212		99,909
Page Industries Ltd.		132		60,975
Petronet LNG Ltd.		16,156		45,070

	Shares		Value
PI Industries Ltd.		1,633		$60,341
Pidilite Industries Ltd.		3,285		94,231
Power Grid Corp. of India Ltd.		67,611		186,139
Reliance Industries Ltd.		65,571		1,864,483
Samvardhana Motherson International Ltd.		43,787		35,871
SBI Cards & Payment Services Ltd.		5,086		45,902
SBI Life Insurance Co. Ltd. ~		9,699		130,120
Shree Cement Ltd.		233		74,406
Shriram Finance Ltd.		4,836		74,345
Siemens Ltd.		1,534		62,242
SRF Ltd.		3,193		93,968
State Bank of India		38,444		245,755
Sun Pharmaceutical Industries Ltd.		20,665		247,614
Tata Consultancy Services Ltd.		19,703		772,315
Tata Consumer Products Ltd.		12,007		103,760
Tata Elxsi Ltd.		737		53,665
Tata Motors Ltd. *		35,769		184,286
Tata Power Co. Ltd.		30,972		71,976
Tata Steel Ltd.		157,858		201,659
Tech Mahindra Ltd.		12,580		169,587
Titan Co. Ltd.		7,648		234,902
Torrent Pharmaceuticals Ltd.		2,183		40,889
Trent Ltd.		3,905		65,509
Tube Investments of India Ltd.		2,287		71,059
TVS Motor Co. Ltd.		4,605		60,528
UltraTech Cement Ltd.		2,176		202,202
United Spirits Ltd. *		6,262		57,782
UPL Ltd.		10,507		91,926
Varun Beverages Ltd.		4,896		82,840
Vedanta Ltd.		16,024		53,679
Wipro Ltd.		29,545		131,812
Yes Bank Ltd. *		247,726		45,491
Zomato Ltd. *		64,438		40,294
				18,387,371
Indonesia - 1.8%
Aneka Tambang Tbk		181,100		25,279
P.T. Adaro Energy Indonesia Tbk		310,000		60,093
P.T. Astra International Tbk		436,000		174,701
P.T. Bank Central Asia Tbk		1,194,800		699,011
P.T. Bank Mandiri Persero Tbk		402,000		276,836
P.T. Bank Negara Indonesia Persero Tbk		160,600		100,494
P.T. Bank Rakyat Indonesia Persero Tbk		1,468,897		465,424
P.T. Barito Pacific Tbk		607,991		33,522
P.T. Charoen Pokphand Indonesia Tbk		158,900		52,941
P.T. Indah Kiat Pulp & Paper Tbk		58,900		29,520
P.T. Indofood CBP Sukses Makmur Tbk		50,200		33,426
P.T. Indofood Sukses Makmur Tbk		94,500		39,124
P.T. Kalbe Farma Tbk		453,800		63,600
P.T. Merdeka Copper Gold Tbk *		259,662		72,717
P.T. Sarana Menara Nusantara Tbk		439,100		27,162
P.T. Semen Indonesia Persero Tbk		72,933		30,706
P.T. Sumber Alfaria Trijaya Tbk		357,700		68,822
P.T. Telkom Indonesia Persero Tbk		1,066,700		289,655
P.T. Unilever Indonesia Tbk		164,400		47,697
P.T. United Tractors Tbk		36,200		70,351
P.T. Vale Indonesia Tbk *		53,500		23,772
				2,684,853
Kuwait - 0.8%
Agility Public Warehousing Co. KSC		31,690		64,513
Boubyan Bank KSCP		28,160		59,063
Gulf Bank KSCP		34,462		33,559
Kuwait Finance House KSCP		158,998		430,198
Mabanee Co. KPSC		13,355		31,783
Mobile Telecommunications Co.		46,594		82,193
National Bank of Kuwait SAKP		154,534		533,128
				1,234,437

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

285

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PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Luxembourg - 0.0%
Reinet Investments SCA		2,953		$60,546
Malaysia - 1.4%
AMMB Holdings Bhd		39,300		33,486
Axiata Group Bhd		59,300		40,561
CELCOMDIGI Bhd		67,000		65,987
CIMB Group Holdings Bhd		149,320		179,952
Dialog Group Bhd		79,100		42,406
Gamuda Bhd		39,400		36,506
Genting Bhd		45,900		48,583
Genting Malaysia Bhd		63,800		38,389
HAP Seng Consolidated Bhd		13,400		15,502
Hong Leong Bank Bhd		14,000		64,216
Hong Leong Financial Group Bhd		5,000		20,379
IHH Healthcare Bhd		37,900		49,370
Inari Amertron Bhd		60,200		33,792
IOI Corp. Bhd		54,200		46,929
Kuala Lumpur Kepong Bhd		9,300		43,893
Malayan Banking Bhd		103,888		201,911
Malaysia Airports Holdings Bhd *		14,300		22,036
Maxis Bhd		50,600		47,439
MISC Bhd		28,900		47,376
MR DIY Group M Bhd ~		50,750		17,867
Nestle Malaysia Bhd		1,500		46,606
Petronas Chemicals Group Bhd		51,700		83,081
Petronas Dagangan Bhd		6,400		30,926
Petronas Gas Bhd		17,100		63,866
PPB Group Bhd		13,800		51,791
Press Metal Aluminium Holdings Bhd		79,900		88,496
Public Bank Bhd		313,600		284,594
QL Resources Bhd		23,600		31,074
RHB Bank Bhd		32,031		40,527
Sime Darby Bhd		58,700		28,618
Sime Darby Plantation Bhd		44,702		43,401
Telekom Malaysia Bhd		24,681		27,434
Tenaga Nasional Bhd		55,800		116,770
Top Glove Corp. Bhd *		114,900		24,556
				2,058,320
Mexico - 2.7%
Alfa SAB de CV Class A		62,200		39,419
America Movil SAB de CV ‘B’		593,900		623,892
Arca Continental SAB de CV		9,400		85,362
Banco del Bajio SA ~		16,700		60,795
Cemex SAB de CV *		326,400		179,140
Coca-Cola Femsa SAB de CV		11,315		90,878
Fibra Uno Administracion SA de CV REIT		66,000		92,187
Fomento Economico Mexicano SAB de CV		41,900		399,468
Gruma SAB de CV Class B		4,390		64,763
Grupo Aeroportuario del Pacifico SAB de CV Class B		7,700		149,817
Grupo Aeroportuario del Sureste SAB de CV Class B		4,175		127,710
Grupo Bimbo SAB de CV		28,700		144,424
Grupo Carso SAB de CV Series A1		9,700		48,209
Grupo Financiero Banorte SAB de CV Class O		55,900		471,210
Grupo Financiero Inbursa SAB de CV Class O *		46,200		99,348
Grupo Mexico SAB de CV		67,100		317,738
Grupo Televisa SAB		51,800		54,818
Industrias Penoles SAB de CV *		3,000		44,251
Kimberly-Clark de Mexico SAB de CV Class A		32,800		69,095
Operadora De Sites Mexicanos SAB de CV Class A-1		27,900		27,590
Orbia Advance Corp. SAB de CV		21,600		46,964
Promotora y Operadora de Infraestructura SAB de CV		4,910		49,032
Southern Copper Corp.		1,832		139,690

	Shares		Value
Wal-Mart de Mexico SAB de CV		112,800		$450,887
				3,876,687
Peru - 0.2%
Cia de Minas Buenaventura SAA ADR		4,647		38,013
Credicorp Ltd.		1,542		204,145
				242,158
Philippines - 0.7%
Aboitiz Equity Ventures, Inc.		36,310		32,436
ACEN Corp. *		13,230		1,498
Ayala Corp.		5,330		64,051
Ayala Land, Inc.		158,800		77,829
Bank of the Philippine Islands		42,332		80,035
BDO Unibank, Inc.		50,982		120,913
International Container Terminal Services, Inc.		21,850		85,791
JG Summit Holdings, Inc.		64,760		57,167
Jollibee Foods Corp.		9,610		39,616
Manila Electric Co.		6,060		34,729
Metropolitan Bank & Trust Co.		38,660		41,697
Monde Nissin Corp. ~		135,200		24,457
PLDT, Inc.		1,860		48,710
SM Investments Corp.		5,260		86,339
SM Prime Holdings, Inc.		248,700		150,476
Universal Robina Corp.		18,740		49,791
				995,535
Poland - 0.7%
Allegro.eu SA * ~		7,964		54,377
Bank Polska Kasa Opieki SA		3,958		78,737
CD Projekt SA		1,410		36,501
Cyfrowy Polsat SA		5,518		21,441
Dino Polska SA * ~		1,056		95,917
KGHM Polska Miedz SA		3,016		85,663
LPP SA		24		53,286
mBank SA *		320		22,825
PGE Polska Grupa Energetyczna SA *		19,336		28,159
Polski Koncern Naftowy ORLEN SA		13,754		185,651
Powszechna Kasa Oszczednosci Bank Polski SA		18,847		125,080
Powszechny Zaklad Ubezpieczen SA		13,022		106,035
Santander Bank Polska SA		771		52,220
				945,892
Qatar - 0.9%
Barwa Real Estate Co.		46,027		33,045
Commercial Bank PSQC		69,735		111,712
Industries Qatar QSC		32,573		116,722
Masraf Al Rayan QSC		120,175		98,077
Mesaieed Petrochemical Holding Co.		94,724		50,168
Ooredoo QPSC		17,243		44,532
Qatar Electricity & Water Co. QSC		9,479		43,932
Qatar Fuel QSC		12,847		61,402
Qatar Gas Transport Co. Ltd.		53,684		51,133
Qatar International Islamic Bank QSC		21,188		57,707
Qatar Islamic Bank SAQ		35,623		174,594
Qatar National Bank QPSC		99,466		439,455
				1,282,479
Romania - 0.0%
NEPI Rockcastle NV *		9,838		57,083
Russia - 0.0%
Alrosa PJSC * W ±		104,260		-
Gazprom PJSC * W ±		58,020		-
Gazprom PJSC ADR (OTC) * W ±		8,195		-
Gazprom PJSC ADR (SEAQ) * W ±		194,171		-
Inter RAO UES PJSC * W ±		1,499,500		-
LUKOIL PJSC * W ±		2,583		-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

286

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PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
LUKOIL PJSC ADR (SEAQ) * W ±		13,502		$-
Magnit PJSC GDR * ~ W ±		3,308		-
Magnit PJSC GDR (LI) * ~ W ±		10,327		-
MMC Norilsk Nickel PJSC * W ±		298		-
MMC Norilsk Nickel PJSC ADR * W ±		21,092		-
Mobile TeleSystems PJSC ADR * W ±		17,555		-
Moscow Exchange MICEX-RTS PJSC * W ±		58,150		-
Novatek PJSC GDR (LI) * ~ W ±		3,551		-
Novolipetsk Steel PJSC * W ±		4,620		-
Novolipetsk Steel PJSC GDR * W ±		5,477		-
Ozon Holdings PLC ADR * W ±		1,985		-
PhosAgro PJSC * W ±		34		-
PhosAgro PJSC GDR * ~ W ±		5,315		-
Polyus PJSC * W ±		241		-
Polyus PJSC ADR * W ±		2,028		-
Polyus PJSC GDR * ~ W ±		262		-
Rosneft Oil Co. PJSC * W ±		3,660		-
Rosneft Oil Co. PJSC GDR * ~ W ±		41,896		-
Sberbank of Russia PJSC * W ±		41,510		-
Sberbank of Russia PJSC ADR (OTC) * W ±		2,527		-
Sberbank of Russia PJSC ADR (SEAQ) * W ±		92,176		-
Severstal PAO * W ±		812		-
Severstal PAO GDR * ~ W ±		7,476		-
Surgutneftegas PJSC ADR (LI) * W ±		49,470		-
Tatneft PJSC * W ±		9,037		-
Tatneft PJSC ADR * W ±		7,942		-
TCS Group Holding PLC GDR * ~ W ±		4,555		-
United Co. RUSAL International PJSC * W ±		114,970		-
VK Co. Ltd. GDR * W ±		4,153		-
VTB Bank PJSC * W ±		21,000,000		1
VTB Bank PJSC GDR * ~ W ±		57,906		-
X5 Retail Group NV GDR * ~ W ±		4,746		-
Yandex NV Class A * W ±		11,538		-
				1
Saudi Arabia - 3.8%
ACWA Power Co.		1,732		65,118
Advanced Petrochemical Co.		2,744		35,076
Al Rajhi Bank		42,215		831,046
Alinma Bank		21,107		166,440
Almarai Co. JSC		5,386		81,146
Arab National Bank		12,922		89,214
Arabian Internet & Communications Services Co.		517		34,361
Bank Al-Jazira		8,654		42,178
Bank AlBilad *		10,553		112,618
Banque Saudi Fransi		12,721		123,412
Bupa Arabia for Cooperative Insurance Co.		1,615		74,776
Dallah Healthcare Co.		775		31,872
Dar Al Arkan Real Estate Development Co. *		11,394		48,907
Dr Sulaiman Al Habib Medical Services Group Co.		1,885		146,731
Elm Co.		517		61,098
Emaar Economic City *		8,525		18,352
Etihad Etisalat Co.		8,126		89,595
Jarir Marketing Co.		1,266		55,141
Mobile Telecommunications Co. Saudi Arabia *		9,480		32,919
Mouwasat Medical Services Co.		1,055		66,256
Nahdi Medical Co.		840		41,472
National Industrialization Co. *		7,062		23,111
Rabigh Refining & Petrochemical Co. *		8,998		24,183
Riyad Bank		29,076		231,458
SABIC Agri-Nutrients Co.		4,614		157,297
Sahara International Petrochemical Co.		7,740		78,537
Saudi Arabian Mining Co. *		18,555		318,451
Saudi Arabian Oil Co. ~		52,130		449,319
Saudi Basic Industries Corp.		19,386		467,814
Saudi British Bank		19,916		187,647
Saudi Electricity Co.		17,952		112,025
Saudi Industrial Investment Group		7,966		53,188
Saudi Investment Bank		10,554		46,856
Saudi Kayan Petrochemical Co. *		15,834		51,227
Saudi National Bank		47,260		578,734

	Shares		Value
Saudi Research & Media Group *		776		$40,867
Saudi Tadawul Group Holding Co.		1,033		39,844
Saudi Telecom Co.		32,308		345,566
Savola Group		5,637		42,109
Yanbu National Petrochemical Co.		5,453		61,453
				5,557,414
South Africa - 3.2%
Absa Group Ltd.		18,256		186,600
African Rainbow Minerals Ltd.		2,423		31,390
Anglo American Platinum Ltd.		1,143		61,358
Aspen Pharmacare Holdings Ltd.		8,167		84,446
Bid Corp. Ltd.		7,224		161,683
Bidvest Group Ltd.		6,230		88,672
Capitec Bank Holdings Ltd.		1,875		177,726
Clicks Group Ltd.		5,254		75,875
Discovery Ltd. *		10,757		84,250
Exxaro Resources Ltd.		5,266		55,040
FirstRand Ltd.		108,723		368,506
Foschini Group Ltd.		7,125		36,371
Gold Fields Ltd.		19,199		257,182
Growthpoint Properties Ltd. REIT		73,825		54,151
Harmony Gold Mining Co. Ltd.		11,983		49,671
Impala Platinum Holdings Ltd.		18,367		169,056
Kumba Iron Ore Ltd.		1,388		35,094
Mr Price Group Ltd.		5,528		44,770
MTN Group Ltd.		36,522		261,660
MultiChoice Group		8,102		56,134
Naspers Ltd. Class N		4,690		869,030
Nedbank Group Ltd.		9,913		120,732
Northam Platinum Holdings Ltd. *		7,262		59,042
Old Mutual Ltd.		105,902		70,201
OUTsurance Group Ltd.		18,149		35,605
Pepkor Holdings Ltd. ~		43,562		42,180
Remgro Ltd.		11,393		86,019
Sanlam Ltd.		38,375		121,494
Sasol Ltd.		12,297		166,177
Shoprite Holdings Ltd.		10,826		135,102
Sibanye Stillwater Ltd.		60,965		125,881
Standard Bank Group Ltd.		28,914		280,345
Vodacom Group Ltd.		13,841		94,870
Woolworths Holdings Ltd.		20,809		74,716
				4,621,029
South Korea - 11.0%
Amorepacific Corp.		629		66,388
BGF retail Co. Ltd.		168		23,403
Celltrion Healthcare Co. Ltd.		1,949		90,791
Celltrion Pharm, Inc. *		383		24,565
Celltrion, Inc.		2,207		255,103
Cheil Worldwide, Inc.		1,489		21,333
CJ CheilJedang Corp. *		178		44,594
CJ Corp.		314		25,170
Coway Co. Ltd.		1,192		48,109
DB Insurance Co. Ltd.		991		57,015
Doosan Bobcat, Inc.		1,080		36,324
Doosan Enerbility Co. Ltd. *		8,935		117,334
E-MART, Inc.		450		36,598
Ecopro BM Co. Ltd.		1,053		182,479
F&F Co. Ltd.		371		39,919
GS Holdings Corp.		1,002		31,082
Hana Financial Group, Inc.		6,373		199,596
Hankook Tire & Technology Co. Ltd.		1,602		42,850
Hanmi Pharm Co. Ltd.		149		29,371
Hanon Systems		4,026		27,242
Hanwha Galleria Co. Ltd. *		1,858		3,039
Hanwha Solutions Corp. *		1,647		67,937
HD Hyundai Co. Ltd.		1,022		45,664
HLB, Inc. *		2,354		63,327
HMM Co. Ltd.		5,793		91,092
Hotel Shilla Co. Ltd.		676		42,483

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any, on page 297

287

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PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
HYBE Co. Ltd. *		401		$58,555
Hyundai Engineering & Construction Co. Ltd.		1,678		47,190
Hyundai Glovis Co. Ltd.		404		49,339
Hyundai Heavy Industries Co. Ltd. *		383		29,606
Hyundai Mipo Dockyard Co. Ltd. *		516		27,909
Hyundai Mobis Co. Ltd.		1,320		219,238
Hyundai Motor Co.		3,010		428,240
Hyundai Steel Co.		1,869		49,962
Industrial Bank of Korea		5,619		43,700
Kakao Corp.		6,713		317,920
Kakao Games Corp. *		796		25,798
KakaoBank Corp.		3,079		57,547
Kakaopay Corp. *		573		24,705
Kangwon Land, Inc.		2,070		31,750
KB Financial Group, Inc.		8,366		305,545
Kia Corp.		5,676		354,228
Korea Aerospace Industries Ltd.		1,573		57,443
Korea Electric Power Corp. *		5,531		76,652
Korea Investment Holdings Co. Ltd.		899		38,160
Korea Shipbuilding & Offshore Engineering Co. Ltd. *		915		54,716
Korea Zinc Co. Ltd.		193		82,115
Korean Air Lines Co. Ltd.		3,964		70,774
Krafton, Inc. *		634		90,175
KT&G Corp.		2,366		152,058
Kumho Petrochemical Co. Ltd.		379		41,923
L&F Co. Ltd.		503		121,943
LG Chem Ltd.		1,065		584,891
LG Corp.		2,033		129,454
LG Display Co. Ltd. *		5,009		63,619
LG Electronics, Inc.		2,291		204,457
LG Energy Solution Ltd. *		756		340,618
LG H&H Co. Ltd.		202		93,324
LG Innotek Co. Ltd.		306		64,172
LG Uplus Corp.		4,607		38,382
Lotte Chemical Corp.		443		65,083
Lotte Energy Materials Corp.		496		26,386
Lotte Shopping Co. Ltd.		244		15,398
Meritz Financial Group, Inc.		1,501		44,716
Meritz Securities Co. Ltd.		5,509		25,856
Mirae Asset Securities Co. Ltd.		5,959		29,684
NAVER Corp.		2,826		442,809
NCSoft Corp.		355		101,733
Netmarble Corp. * ~		462		23,687
NH Investment & Securities Co. Ltd.		3,211		21,767
Orion Corp.		511		53,632
Pan Ocean Co. Ltd.		5,754		25,794
Pearl Abyss Corp. *		622		22,311
POSCO Chemical Co. Ltd.		584		123,089
POSCO Holdings, Inc.		1,548		437,962
S-1 Corp.		368		15,640
S-Oil Corp.		970		59,750
Samsung Biologics Co. Ltd. * ~		383		232,161
Samsung C&T Corp.		1,812		150,901
Samsung Electro-Mechanics Co. Ltd.		1,206		142,394
Samsung Electronics Co. Ltd.		102,859		5,086,476
Samsung Engineering Co. Ltd. *		3,377		82,531
Samsung Fire & Marine Insurance Co. Ltd.		663		104,802
Samsung Heavy Industries Co. Ltd. *		13,268		52,900
Samsung Life Insurance Co. Ltd.		1,724		83,138
Samsung SDI Co. Ltd.		1,185		673,126
Samsung SDS Co. Ltd.		750		67,072
Samsung Securities Co. Ltd.		1,345		32,876
SD Biosensor, Inc.		786		12,790
Shinhan Financial Group Co. Ltd.		9,863		267,931
SK Biopharmaceuticals Co. Ltd. *		674		32,845
SK Bioscience Co. Ltd. *		495		27,548
SK Hynix, Inc.		11,759		804,726
SK IE Technology Co. Ltd. * ~		537		29,631
SK Innovation Co. Ltd. *		1,195		165,575
SK Square Co. Ltd. *		2,132		65,442
SK, Inc.		799		106,460

	Shares		Value
SKC Co. Ltd.		449		$39,683
Woori Financial Group, Inc.		11,762		103,466
Yuhan Corp.		1,158		45,084
				16,033,771
Taiwan - 14.6%
Accton Technology Corp.		11,000		115,611
Acer, Inc.		62,000		57,465
Advantech Co. Ltd.		9,000		110,104
ASE Technology Holding Co. Ltd.		71,000		263,485
Asia Cement Corp.		50,000		71,198
Asustek Computer, Inc.		15,000		134,580
AUO Corp. *		141,400		85,906
Catcher Technology Co. Ltd.		14,000		87,518
Cathay Financial Holding Co. Ltd.		184,202		253,618
Chailease Holding Co. Ltd.		31,155		229,125
Chang Hwa Commercial Bank Ltd.		102,336		58,423
Cheng Shin Rubber Industry Co. Ltd.		38,000		45,696
China Airlines Ltd.		62,000		39,924
China Development Financial Holding Corp.		326,214		134,981
China Steel Corp.		254,000		258,053
Chunghwa Telecom Co. Ltd.		82,000		322,333
Compal Electronics, Inc.		90,000		74,745
CTBC Financial Holding Co. Ltd.		378,000		272,209
Delta Electronics, Inc.		42,000		416,709
E Ink Holdings, Inc.		18,000		109,866
E.Sun Financial Holding Co. Ltd.		276,663		230,397
Eclat Textile Co. Ltd.		4,000		65,312
eMemory Technology, Inc. *		1,000		61,558
Eva Airways Corp.		55,000		48,809
Evergreen Marine Corp. Taiwan Ltd.		22,000		115,222
Far Eastern New Century Corp.		69,000		71,016
Far EasTone Telecommunications Co. Ltd.		34,000		84,027
Feng TAY Enterprise Co. Ltd.		10,000		63,654
First Financial Holding Co. Ltd.		227,954		198,409
Formosa Chemicals & Fibre Corp.		76,000		172,495
Formosa Petrochemical Corp.		25,000		69,894
Formosa Plastics Corp.		89,000		268,692
Fubon Financial Holding Co. Ltd.		160,270		298,279
Giant Manufacturing Co. Ltd.		7,181		41,749
Globalwafers Co. Ltd.		5,000		85,471
Hon Hai Precision Industry Co. Ltd.		269,000		920,786
Hotai Motor Co. Ltd.		6,000		126,630
Hua Nan Financial Holdings Co. Ltd.		191,316		140,742
Innolux Corp. *		195,990		94,034
Inventec Corp.		54,000		56,758
Largan Precision Co. Ltd.		2,000		143,388
Lite-On Technology Corp.		43,000		103,508
MediaTek, Inc. *		33,000		855,562
Mega Financial Holding Co. Ltd.		240,250		260,380
Micro-Star International Co. Ltd.		15,000		71,297
momo.com, Inc.		1,200		35,749
Nan Ya Plastics Corp.		103,000		262,373
Nan Ya Printed Circuit Board Corp.		5,000		46,870
Nanya Technology Corp.		27,000		59,220
Nien Made Enterprise Co. Ltd.		4,000		43,080
Novatek Microelectronics Corp.		12,000		170,526
Pegatron Corp.		43,000		98,670
PharmaEssentia Corp. *		4,000		56,290
Pou Chen Corp.		48,000		49,334
Powerchip Semiconductor Manufacturing Corp.		64,000		69,919
President Chain Store Corp.		12,000		106,350
Quanta Computer, Inc.		58,000		169,913
Realtek Semiconductor Corp.		10,000		127,644
Ruentex Development Co. Ltd.		37,000		43,091
Shanghai Commercial & Savings Bank Ltd.		83,178		128,380
Shin Kong Financial Holding Co. Ltd.		282,344		78,305
SinoPac Financial Holdings Co. Ltd.		232,204		126,957
Synnex Technology International Corp.		29,000		58,510
Taishin Financial Holding Co. Ltd.		232,148		127,039
Taiwan Business Bank		130,000		57,577

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

288

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PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Taiwan Cement Corp.		131,493		$157,266
Taiwan Cooperative Financial Holding Co. Ltd.		211,016		181,208
Taiwan High Speed Rail Corp.		42,000		41,748
Taiwan Mobile Co. Ltd.		37,000		122,769
Taiwan Semiconductor Manufacturing Co. Ltd.		531,000		9,305,566
Uni-President Enterprises Corp.		104,000		245,855
Unimicron Technology Corp.		27,000		131,686
United Microelectronics Corp.		255,000		446,233
Vanguard International Semiconductor Corp.		19,000		60,781
Voltronic Power Technology Corp.		1,000		56,944
Walsin Lihwa Corp.		56,727		91,364
Wan Hai Lines Ltd.		15,500		35,080
Win Semiconductors Corp.		7,000		42,190
Winbond Electronics Corp.		64,000		55,997
Wiwynn Corp.		2,000		74,203
WPG Holdings Ltd.		34,000		56,177
Yageo Corp.		7,571		131,979
Yang Ming Marine Transport Corp.		38,000		80,671
Yuanta Financial Holding Co. Ltd.		215,620		158,564
Zhen Ding Technology Holding Ltd.		14,000		52,677
				21,234,373
Thailand - 2.1%
Advanced Info Service PCL		3,400		21,091
Advanced Info Service PCL NVDR		22,200		137,708
Airports of Thailand PCL *		31,600		65,668
Airports of Thailand PCL NVDR *		60,700		126,142
Asset World Corp. PCL NVDR		172,200		29,242
B Grimm Power PCL		5,900		7,018
B Grimm Power PCL NVDR		11,300		13,442
Bangkok Dusit Medical Services PCL NVDR		222,500		192,081
Bangkok Expressway & Metro PCL		14,600		3,780
Bangkok Expressway & Metro PCL NVDR		150,000		38,839
Banpu PCL		172,900		54,691
Berli Jucker PCL NVDR		25,900		29,035
BTS Group Holdings PCL NVDR		170,100		35,375
Bumrungrad Hospital PCL NVDR		12,400		82,053
Carabao Group PCL NVDR		6,500		18,256
Central Pattana PCL NVDR		43,500		87,599
Central Retail Corp. PCL NVDR		39,000		51,191
Charoen Pokphand Foods PCL NVDR		83,500		51,769
CP ALL PCL NVDR		125,800		228,422
Delta Electronics Thailand PCL		1,100		36,906
Delta Electronics Thailand PCL NVDR		5,600		187,884
Electricity Generating PCL NVDR		5,700		25,954
Energy Absolute PCL		2,500		5,562
Energy Absolute PCL NVDR		33,600		74,751
Global Power Synergy PCL NVDR		15,200		30,349
Gulf Energy Development PCL NVDR		63,200		97,686
Home Product Center PCL		30,300		12,792
Home Product Center PCL NVDR		97,100		40,993
Indorama Ventures PCL NVDR		36,300		36,679
Intouch Holdings PCL NVDR		24,200		52,441
JMT Network Services PCL NVDR		14,100		19,243
Kasikornbank PCL NVDR		12,800		49,653
Krung Thai Bank PCL NVDR		75,300		36,361
Krungthai Card PCL NVDR		19,400		30,820
Land & Houses PCL		2,800		807
Land & Houses PCL NVDR		177,200		51,089
Minor International PCL NVDR *		68,090		64,371
Muangthai Capital PCL		4,900		4,963
Muangthai Capital PCL NVDR		11,000		11,141
Osotspa PCL NVDR		32,400		29,160
PTT Exploration & Production PCL NVDR		29,900		131,390
PTT Global Chemical PCL		8,100		10,861
PTT Global Chemical PCL NVDR		40,500		54,307
PTT Oil & Retail Business PCL NVDR		64,600		40,279
PTT PCL		62,600		58,045
PTT PCL NVDR		152,800		141,007
Ratch Group PCL NVDR		23,400		26,390
SCB X PCL		4,250		12,769

	Shares		Value
SCB X PCL NVDR		9,100		$27,341
SCG Packaging PCL NVDR		27,800		37,684
Siam Cement PCL		3,400		31,365
Siam Cement PCL NVDR		13,200		121,770
Srisawad Corp. PCL NVDR		14,800		22,903
Thai Oil PCL		4,014		6,168
Thai Oil PCL NVDR		22,483		34,549
Thai Union Group PCL		25,000		10,322
Thai Union Group PCL NVDR		36,700		15,152
True Corp. PCL *		78,087		19,182
True Corp. PCL NVDR		182,474		44,825
				3,019,316
Turkey - 0.6%
Akbank T.A.S		67,201		59,462
Aselsan Elektronik Sanayi Ve Ticaret AS		14,723		39,907
BIM Birlesik Magazalar AS		9,809		76,185
Eregli Demir ve Celik Fabrikalari TAS *		30,163		55,812
Ford Otomotiv Sanayi AS		1,513		46,207
Haci Omer Sabanci Holding AS		21,964		45,426
Hektas Ticaret TAS *		24,525		34,593
KOC Holding AS		16,388		65,461
Koza Altin Isletmeleri AS		20,697		23,336
Pegasus Hava Tasimaciligi AS *		991		23,473
Sasa Polyester Sanayi AS *		9,650		50,515
Turk Hava Yollari AO *		11,889		73,622
Turkcell Iletisim Hizmetleri AS		26,053		43,597
Turkiye Is Bankasi AS Class C		75,392		51,041
Turkiye Petrol Rafinerileri AS		2,964		82,055
Turkiye Sise ve Cam Fabrikalari AS		29,687		65,505
Yapi ve Kredi Bankasi AS		63,680		31,896
				868,093
United Arab Emirates - 1.2%
Abu Dhabi Commercial Bank PJSC		63,061		142,712
Abu Dhabi Islamic Bank PJSC		31,287		85,096
Abu Dhabi National Oil Co. for Distribution PJSC		67,293		76,592
Aldar Properties PJSC		82,944		105,187
Dubai Islamic Bank PJSC		62,379		89,056
Emaar Properties PJSC		142,733		218,096
Emirates NBD Bank PJSC		40,817		146,064
Emirates Telecommunications Group Co. PJSC		74,920		450,153
First Abu Dhabi Bank PJSC		95,176		334,278
Multiply Group PJSC *		72,359		63,949
Q Holding PJSC *		44,267		30,636
				1,741,819
United Kingdom - 0.0%
Pepco Group NV *		3,717		35,801
United States - 0.1%
JBS SA		16,700		58,814
Legend Biotech Corp. ADR *		1,261		60,805
Parade Technologies Ltd.		2,000		69,244
				188,863
Total Common Stocks (Cost $165,277,377)				138,404,415

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

289

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PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Principal Amount		Value
SHORT-TERM INVESTMENTS - 2.1%
Repurchase Agreement - 2.0%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $2,944,808; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $3,002,640)		$2,943,716		$2,943,716
U.S. Treasury Bills - 0.1%
4.664% due 06/29/23 ‡		100,000		98,882
Total Short-Term Investments (Cost $3,042,588)				3,042,598
TOTAL INVESTMENTS - 99.4% (Cost $171,583,804)				144,317,382
DERIVATIVES - 0.1%				183,711
OTHER ASSETS & LIABILITIES, NET - 0.5%				688,557
NET ASSETS - 100.0%				$145,189,650

Notes to Schedule of Investments

(a) Investments with a total aggregate value of $1 or less than 0.1% of the Fund’s net assets were valued by the Trustee Valuation Committee or determined by a valuation committee established under the Valuation Policy and then subsequently submitted for approval or ratification to either the Trustee Valuation Committee or the Board of Trustees.

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

290

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PD EMERGING MARKETS INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

(b) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month	Number of Contracts	Notional Amount	Value		Unrealized Appreciation (Depreciation)
MSCI Emerging Markets Index	06/23	81	$3,848,064		$4,031,775		$183,711

(c) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Rights		$184		$184		$-		$-
	Warrants		353		-		353		-
	Preferred Stocks
	Brazil		1,692,402		1,692,402		-		-
	Chile		247,166		-		247,166		-
	Colombia		61,004		61,004		-		-
	South Korea		869,260		-		869,260		-
	Total Preferred Stocks		2,869,832		1,753,406		1,116,426		-
	Common Stocks
	Australia		219,559		-		219,559		-
	Brazil		5,140,097		5,140,097		-		-
	Chile		538,539		484,077		54,462		-
	China		45,893,650		3,753,632		42,140,018		-
	Colombia		72,290		72,290		-		-
	Czech Republic		251,796		168,821		82,975		-
	Egypt		111,916		-		111,916		-
	Greece		536,503		-		536,503		-
	Hong Kong		248,993		-		248,993		-
	Hungary		265,231		-		265,231		-
	India		18,387,371		-		18,387,371		-
	Indonesia		2,684,853		-		2,684,853		-
	Kuwait		1,234,437		-		1,234,437		-
	Luxembourg		60,546		60,546		-		-
	Malaysia		2,058,320		193,337		1,864,983		-
	Mexico		3,876,687		3,876,687		-		-
	Peru		242,158		242,158		-		-
	Philippines		995,535		-		995,535		-
	Poland		945,892		-		945,892		-
	Qatar		1,282,479		43,932		1,238,547		-
	Romania		57,083		57,083		-		-
	Russia		1		-		-		1
	Saudi Arabia		5,557,414		74,776		5,482,638		-
	South Africa		4,621,029		1,409,309		3,211,720		-
	South Korea		16,033,771		70,976		15,962,795		-
	Taiwan		21,234,373		-		21,234,373		-
	Thailand		3,019,316		-		3,019,316		-
	Turkey		868,093		116,020		752,073		-
	United Arab Emirates		1,741,819		76,592		1,665,227		-
	United Kingdom		35,801		-		35,801		-
	United States		188,863		119,619		69,244		-
	Total Common Stocks		138,404,415		15,959,952		122,444,462		1
	Short-Term Investments		3,042,598		-		3,042,598		-
	Derivatives:
	Equity Contracts
	Futures		183,711		183,711		-		-
	Total		$144,501,093		$17,897,253		$126,603,839		$1

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

291

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PD INTERNATIONAL LARGE-CAP INDEX PORTFOLIO

Schedule of Investments

March 31, 2023 (Unaudited)

	Shares		Value
PREFERRED STOCKS - 0.5%
Germany - 0.5%
Bayerische Motoren Werke AG		2,166		$221,405
Dr Ing hc F Porsche AG *		4,154		533,162
Henkel AG & Co. KGaA		6,499		508,442
Porsche Automobil Holding SE		5,586		320,676
Sartorius AG		888		374,253
Volkswagen AG		6,773		924,327
				2,882,265
Total Preferred Stocks (Cost $3,517,428)				2,882,265
COMMON STOCKS - 98.0%
Australia - 6.6%
ANZ Group Holdings Ltd.		109,122		1,681,583
BHP Group Ltd.		184,804		5,842,380
Coles Group Ltd.		48,826		589,948
Commonwealth Bank of Australia		61,817		4,081,499
Flutter Entertainment PLC *		6,097		1,109,479
Fortescue Metals Group Ltd.		61,777		928,605
Glencore PLC *		375,755		2,162,175
Goodman Group REIT		61,740		783,470
Macquarie Group Ltd.		13,394		1,585,846
National Australia Bank Ltd.		115,010		2,143,022
Newcrest Mining Ltd.		32,603		581,976
Ramsay Health Care Ltd.		6,746		301,432
Rio Tinto Ltd.		13,542		1,088,096
Rio Tinto PLC		41,025		2,784,691
Santos Ltd.		115,125		529,851
Telstra Group Ltd.		147,530		417,717
Transurban Group >>		112,176		1,071,099
Wesfarmers Ltd.		41,388		1,398,853
Westpac Banking Corp.		127,723		1,859,597
Woodside Energy Group Ltd.		69,267		1,547,435
Woolworths Group Ltd.		44,378		1,128,209
				33,616,963
Austria - 0.0%
Verbund AG		2,484		216,065
Belgium - 0.7%
Anheuser-Busch InBev SA/NV		31,687		2,112,250
Groupe Bruxelles Lambert NV		3,628		309,613
KBC Group NV		9,125		626,986
UCB SA		4,612		412,203
				3,461,052
Brazil - 0.2%
Wheaton Precious Metals Corp.		16,488		794,083
Canada - 10.3%
Agnico Eagle Mines Ltd.		17,951		915,149
Alimentation Couche-Tard, Inc.		29,580		1,487,208
Bank of Montreal		24,701		2,200,153
Bank of Nova Scotia		43,462		2,189,018
Barrick Gold Corp.		13,874		260,723
Barrick Gold Corp. (TSE)		50,388		935,431
BCE, Inc.		2,661		119,199
Brookfield Corp.		51,677		1,683,565
Canadian Imperial Bank of Commerce		33,051		1,401,519
Canadian National Railway Co.		20,962		2,473,407

	Shares		Value
Canadian Natural Resources Ltd. (TSE)		40,385		$2,234,846
Canadian Pacific Railway Ltd.		33,932		2,612,877
Cenovus Energy, Inc.		52,502		916,017
CGI, Inc. *		7,711		743,143
Constellation Software, Inc.		734		1,379,969
Enbridge, Inc.		73,867		2,816,401
Fairfax Financial Holdings Ltd.		828		550,670
Fortis, Inc.		17,522		744,831
Franco-Nevada Corp.		6,992		1,019,854
George Weston Ltd.		2,588		342,960
Great-West Lifeco, Inc.		10,198		270,287
Hydro One Ltd. ~		12,013		342,035
Imperial Oil Ltd.		7,723		392,750
Intact Financial Corp.		6,393		914,935
Loblaw Cos. Ltd.		5,921		539,615
Magna International, Inc.		9,905		530,539
Manulife Financial Corp.		68,716		1,260,937
National Bank of Canada		12,279		878,291
Nutrien Ltd.		18,977		1,401,476
Pembina Pipeline Corp.		20,121		651,792
Power Corp. of Canada		20,111		513,973
Restaurant Brands International, Inc.		10,630		713,622
Rogers Communications, Inc. Class B (TSE)		12,928		599,193
Royal Bank of Canada		50,448		4,824,568
Shaw Communications, Inc. Class B (TSE)		17,408		520,888
Shopify, Inc. Class A *		43,416		2,081,655
Sun Life Financial, Inc.		21,390		999,308
Suncor Energy, Inc.		49,394		1,533,535
TC Energy Corp.		36,917		1,435,980
TELUS Corp.		17,097		339,410
Thomson Reuters Corp.		6,140		798,859
Toronto-Dominion Bank		66,143		3,961,728
				52,532,316
China - 0.6%
BOC Hong Kong Holdings Ltd.		135,000		420,289
Budweiser Brewing Co. APAC Ltd. ~		62,800		191,121
Prosus NV *		29,240		2,289,609
Wilmar International Ltd.		70,100		222,085
				3,123,104
Denmark - 3.0%
AP Moller - Maersk AS Class A		113		200,467
AP Moller - Maersk AS Class B		183		332,641
Carlsberg AS Class B		3,551		550,997
Coloplast AS Class B		4,334		570,646
DSV AS		6,829		1,324,125
Genmab AS *		2,404		908,725
Novo Nordisk AS Class B		60,391		9,591,375
Orsted AS ~		6,901		588,434
Vestas Wind Systems AS		36,840		1,073,680
				15,141,090
Finland - 0.9%
Fortum OYJ		16,366		250,703
Kone OYJ Class B		12,399		646,658
Neste OYJ		15,434		762,499
Nokia OYJ (OMXH)		197,412		969,073
Nordea Bank Abp		120,688		1,288,741
Sampo OYJ Class A		17,502		825,834
				4,743,508
France - 9.9%
Air Liquide SA		19,094		3,196,118
Airbus SE		21,566		2,880,516
AXA SA		68,620		2,094,116
BNP Paribas SA		40,526		2,420,113
Capgemini SE		5,974		1,110,181
Cie de Saint-Gobain		17,874		1,016,022

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

292

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PD INTERNATIONAL LARGE-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Cie Generale des Etablissements Michelin SCA		24,749		$756,534
Credit Agricole SA		44,398		500,863
Danone SA		23,422		1,457,401
Dassault Systemes SE		24,315		1,003,019
Engie SA		66,630		1,054,399
EssilorLuxottica SA		10,609		1,913,044
Hermes International		1,155		2,339,170
Kering SA		2,732		1,782,432
L’Oreal SA		8,811		3,937,130
LVMH Moet Hennessy Louis Vuitton SE		10,098		9,269,038
Orange SA		72,780		864,639
Pernod Ricard SA		7,528		1,704,572
Safran SA		12,469		1,845,868
Sartorius Stedim Biotech		1,009		309,556
Societe Generale SA		29,454		663,638
Thales SA		3,893		575,567
TotalEnergies SE		90,770		5,352,132
Vinci SA		19,634		2,250,887
				50,296,955
Germany - 7.5%
adidas AG		5,910		1,047,680
Allianz SE		14,713		3,396,291
BASF SE		33,507		1,759,072
Bayer AG		35,839		2,289,453
Bayerische Motoren Werke AG		12,079		1,323,841
Beiersdorf AG		3,677		478,331
Daimler Truck Holding AG *		16,512		557,264
Deutsche Bank AG		75,397		766,727
Deutsche Boerse AG		6,931		1,349,535
Deutsche Post AG		36,161		1,693,623
Deutsche Telekom AG		118,242		2,865,275
E.ON SE		81,904		1,021,729
Fresenius SE & Co. KGaA		15,410		416,120
Hannover Rueck SE		2,200		430,277
Henkel AG & Co. KGaA		3,792		275,856
Infineon Technologies AG		47,641		1,956,386
Mercedes-Benz Group AG		29,271		2,251,021
Merck KGaA		4,715		879,040
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		5,111		1,786,987
RWE AG		23,435		1,008,369
SAP SE		38,094		4,810,147
Siemens AG		27,908		4,521,205
Siemens Healthineers AG ~		10,288		593,124
Volkswagen AG		1,074		184,218
Vonovia SE		26,130		492,153
				38,153,724
Hong Kong - 2.4%
AIA Group Ltd.		431,400		4,524,245
CK Asset Holdings Ltd.		72,562		439,919
CLP Holdings Ltd.		60,000		433,568
Hang Seng Bank Ltd.		27,900		396,608
Henderson Land Development Co. Ltd.		53,000		183,369
Hong Kong & China Gas Co. Ltd.		408,150		359,340
Hong Kong Exchanges & Clearing Ltd.		43,900		1,945,854
Jardine Matheson Holdings Ltd.		5,800		282,125
Link REIT		92,309		593,568
MTR Corp. Ltd.		56,500		272,685
Prudential PLC		100,296		1,373,215
Sun Hung Kai Properties Ltd.		53,000		742,509
Techtronic Industries Co. Ltd.		50,000		541,755
				12,088,760
Ireland - 0.4%
CRH PLC		27,253		1,376,829

	Shares		Value
Kerry Group PLC Class A		5,810		$579,404
				1,956,233
Israel - 0.2%
Check Point Software Technologies Ltd. *		3,660		475,800
ICL Group Ltd.		25,864		175,243
Nice Ltd. *		2,318		528,037
				1,179,080
Italy - 1.6%
Assicurazioni Generali SpA		40,522		807,385
Enel SpA		296,709		1,809,612
Eni SpA		91,203		1,271,950
Ferrari NV		4,598		1,245,983
Intesa Sanpaolo SpA		588,815		1,511,159
Snam SpA		73,564		390,039
UniCredit SpA		70,083		1,320,914
				8,357,042
Japan - 17.8%
Aeon Co. Ltd.		23,900		463,679
Ajinomoto Co., Inc.		16,700		580,957
Asahi Group Holdings Ltd.		16,600		617,819
Astellas Pharma, Inc.		67,000		951,890
Bandai Namco Holdings, Inc.		21,900		472,145
Bridgestone Corp.		20,800		844,952
Canon, Inc.		36,500		812,850
Central Japan Railway Co.		5,300		632,394
Chugai Pharmaceutical Co. Ltd.		24,500		604,969
Dai-ichi Life Holdings, Inc.		35,700		656,290
Daiichi Sankyo Co. Ltd.		63,900		2,330,921
Daikin Industries Ltd.		9,100		1,632,599
Daiwa House Industry Co. Ltd.		21,900		515,992
Denso Corp.		15,800		891,869
East Japan Railway Co.		11,000		608,757
Eisai Co. Ltd.		9,200		522,556
FANUC Corp.		35,000		1,263,927
Fast Retailing Co. Ltd.		6,400		1,401,040
FUJIFILM Holdings Corp.		13,100		664,995
Fujitsu Ltd.		7,200		972,938
Hitachi Ltd.		35,300		1,940,112
Honda Motor Co. Ltd.		59,500		1,573,844
Hoya Corp.		13,000		1,436,659
ITOCHU Corp.		43,400		1,413,384
Japan Post Bank Co. Ltd.		53,800		439,409
Japan Post Holdings Co. Ltd.		86,700		703,655
Japan Tobacco, Inc.		43,800		925,211
Kao Corp.		17,000		661,730
KDDI Corp.		58,800		1,813,259
Keyence Corp.		7,100		3,479,769
Kirin Holdings Co. Ltd.		30,000		474,623
Komatsu Ltd.		33,700		836,607
Kubota Corp.		36,900		559,453
Kyocera Corp.		11,700		610,341
M3, Inc.		16,100		405,222
Marubeni Corp.		56,400		767,024
Mitsubishi Corp.		45,700		1,642,296
Mitsubishi Electric Corp.		70,500		842,484
Mitsubishi Estate Co. Ltd.		41,100		488,871
Mitsubishi UFJ Financial Group, Inc.		436,100		2,794,820
Mitsui & Co. Ltd.		52,300		1,630,183
Mitsui Fudosan Co. Ltd.		33,100		621,765
Mizuho Financial Group, Inc.		88,000		1,246,746
MS&AD Insurance Group Holdings, Inc.		15,600		483,457
Murata Manufacturing Co. Ltd.		21,000		1,279,850
Nexon Co. Ltd.		17,400		415,491
Nidec Corp.		16,300		848,268
Nintendo Co. Ltd.		40,300		1,565,315
Nippon Paint Holdings Co. Ltd.		30,300		284,914

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

293

PACIFIC SELECT FUND

PD INTERNATIONAL LARGE-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Nippon Telegraph & Telephone Corp.		43,600		$1,302,886
Nissan Motor Co. Ltd.		84,700		320,555
Nomura Holdings, Inc.		106,200		409,435
Nomura Research Institute Ltd.		14,500		339,122
NTT Data Corp.		23,000		302,370
Obic Co. Ltd.		2,500		395,984
Olympus Corp.		44,600		783,299
Omron Corp.		6,800		397,983
Oriental Land Co. Ltd.		36,500		1,249,731
ORIX Corp.		43,600		718,877
Otsuka Holdings Co. Ltd.		14,200		450,844
Panasonic Holdings Corp.		80,600		721,137
Recruit Holdings Co. Ltd.		52,600		1,446,975
Renesas Electronics Corp. *		42,900		621,226
Secom Co. Ltd.		7,700		474,533
Sekisui House Ltd.		22,500		458,578
Seven & i Holdings Co. Ltd.		27,500		1,242,288
Shimano, Inc.		2,700		468,141
Shin-Etsu Chemical Co. Ltd.		67,500		2,191,119
Shionogi & Co. Ltd.		9,700		437,523
Shiseido Co. Ltd.		14,600		684,495
SMC Corp.		2,100		1,113,244
SoftBank Corp.		104,800		1,209,790
SoftBank Group Corp.		44,000		1,729,794
Sompo Holdings, Inc.		11,400		451,726
Sony Group Corp.		46,000		4,189,836
Sumitomo Corp.		41,100		728,101
Sumitomo Mitsui Financial Group, Inc.		47,600		1,904,836
Sumitomo Realty & Development Co. Ltd.		11,300		255,170
Suzuki Motor Corp.		13,400		487,993
Sysmex Corp.		6,100		400,352
Takeda Pharmaceutical Co. Ltd.		54,800		1,799,826
Terumo Corp.		23,600		638,269
Tokio Marine Holdings, Inc.		67,000		1,289,411
Tokyo Electron Ltd.		16,200		1,979,090
Toshiba Corp.		14,200		476,830
Toyota Industries Corp.		5,300		295,268
Toyota Motor Corp.		386,900		5,507,676
Toyota Tsusho Corp.		7,800		332,571
Unicharm Corp.		14,700		604,254
Z Holdings Corp.		97,500		276,456
				90,715,895
Luxembourg - 0.1%
ArcelorMittal SA		19,214		582,113
Macau - 0.2%
Galaxy Entertainment Group Ltd. *		80,000		535,133
Sands China Ltd. *		88,400		307,101
				842,234
Netherlands - 5.4%
Adyen NV * ~		791		1,260,402
Akzo Nobel NV		6,625		518,172
Argenx SE *		2,018		749,395
ASML Holding NV		14,707		10,022,055
Heineken Holding NV		4,203		385,617
Heineken NV		9,456		1,016,054
ING Groep NV		135,946		1,614,404
Koninklijke Ahold Delhaize NV		38,149		1,303,365
Koninklijke DSM NV		6,376		754,563
Koninklijke Philips NV		32,443		595,877
Shell PLC		257,472		7,337,584
Universal Music Group NV		26,463		670,169
Wolters Kluwer NV		9,394		1,185,865
				27,413,522

	Shares		Value
Norway - 0.4%
Aker BP ASA		11,528		$282,724
DNB Bank ASA		33,935		607,292
Equinor ASA		34,753		987,972
Telenor ASA		25,526		299,297
				2,177,285
Portugal - 0.1%
EDP - Energias de Portugal SA		106,845		582,189
Singapore - 1.4%
DBS Group Holdings Ltd.		66,054		1,642,217
Grab Holdings Ltd. Class A *		47,517		143,026
Oversea-Chinese Banking Corp. Ltd.		123,557		1,151,771
Sea Ltd. ADR *		13,182		1,140,902
Singapore Telecommunications Ltd.		301,200		558,085
STMicroelectronics NV		24,933		1,328,522
United Overseas Bank Ltd.		43,100		966,692
				6,931,215
South Africa - 0.3%
Anglo American PLC		46,356		1,541,870
Spain - 2.5%
Aena SME SA * ~		2,736		442,434
Amadeus IT Group SA *		16,434		1,102,451
Banco Bilbao Vizcaya Argentaria SA		219,982		1,572,730
Banco Santander SA		612,669		2,283,098
CaixaBank SA (SIBE)		161,731		631,067
Cellnex Telecom SA ~		20,618		801,785
EDP Renovaveis SA		9,225		211,307
Endesa SA		11,587		251,667
Ferrovial SA		17,777		523,486
Iberdrola SA		224,164		2,792,590
Industria de Diseno Textil SA		39,794		1,336,887
Naturgy Energy Group SA		5,306		159,729
Telefonica SA		189,615		816,636
				12,925,867
Sweden - 2.5%
Assa Abloy AB Class B		36,564		875,798
Atlas Copco AB Class A		97,989		1,241,358
Atlas Copco AB Class B		56,941		654,977
Epiroc AB Class A		24,052		477,433
Epiroc AB Class B		14,213		242,338
EQT AB		12,969		264,923
Essity AB Class B		22,216		634,575
Evolution AB ~		6,670		893,636
H & M Hennes & Mauritz AB Class B		26,642		380,915
Hexagon AB Class B		71,005		817,225
Investor AB Class A		18,167		370,697
Investor AB Class B		66,488		1,324,480
Sandvik AB		38,896		825,598
Skandinaviska Enskilda Banken AB Class A		58,949		650,694
Svenska Handelsbanken AB Class A		53,209		460,836
Swedbank AB Class A		33,037		543,281
Telefonaktiebolaget LM Ericsson Class B		106,477		624,149
Volvo AB Class A		7,305		157,130
Volvo AB Class B		55,049		1,134,375
Volvo Car AB Class B *		21,811		95,416
				12,669,834
Switzerland - 5.4%
ABB Ltd.		57,340		1,972,582
Alcon, Inc.		18,229		1,294,031
Chocoladefabriken Lindt & Spruengli AG		41		910,738

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

294

PACIFIC SELECT FUND

PD INTERNATIONAL LARGE-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

	Shares		Value
Cie Financiere Richemont SA Class A		19,043		$3,053,660
Credit Suisse Group AG		131,398		117,999
Givaudan SA		337		1,096,863
Kuehne + Nagel International AG		1,982		590,309
Lonza Group AG		2,717		1,635,632
Novartis AG		78,920		7,246,317
Partners Group Holding AG		828		779,746
Schindler Holding AG		2,342		510,410
SGS SA		232		511,734
Sika AG		5,328		1,494,480
Sonova Holding AG		1,896		559,298
Swisscom AG		945		603,072
UBS Group AG (XVTX)		122,151		2,584,812
Zurich Insurance Group AG		5,489		2,630,321
				27,592,004
United Arab Emirates - 0.0%
NMC Health PLC *		4,009		9
United Kingdom - 9.8%
Ashtead Group PLC		16,019		983,644
Associated British Foods PLC		12,980		311,492
AstraZeneca PLC		56,527		7,832,057
Aviva PLC		102,258		510,792
BAE Systems PLC		112,690		1,363,112
Barclays PLC		578,403		1,041,070
BP PLC		662,024		4,184,335
British American Tobacco PLC		77,581		2,719,553
BT Group PLC		253,582		456,784
CK Hutchison Holdings Ltd.		98,000		606,291
Coca-Cola Europacific Partners PLC		7,500		443,925
Compass Group PLC		64,087		1,610,605
Diageo PLC		82,935		3,701,358
HSBC Holdings PLC		728,454		4,950,934
Imperial Brands PLC		32,663		751,107
Legal & General Group PLC		217,894		644,444
Lloyds Banking Group PLC		2,454,353		1,443,030
London Stock Exchange Group PLC		13,789		1,339,321
National Grid PLC		133,528		1,806,233
NatWest Group PLC		193,883		632,645
Reckitt Benckiser Group PLC		26,108		1,986,231
RELX PLC		69,872		2,262,937
SSE PLC		39,431		879,857
Standard Chartered PLC		89,762		680,312
Tesco PLC		270,026		885,261
Unilever PLC		92,477		4,792,065
Vodafone Group PLC		950,757		1,048,777
				49,868,172
United States - 7.8%
Brookfield Renewable Corp. Class A		4,712		164,772
CSL Ltd.		17,592		3,407,050
Experian PLC		33,606		1,106,568
GSK PLC		148,381		2,621,790
Haleon PLC		185,285		736,032
Holcim AG *		20,223		1,304,208
Nestle SA		100,322		12,232,312
Roche Holding AG		26,603		7,615,956
Sanofi		41,615		4,514,342
Schneider Electric SE		19,792		3,307,714
Stellantis NV		82,057		1,492,311
Swiss Re AG		11,003		1,130,376
				39,633,431
Total Common Stocks (Cost $481,541,586)				499,135,615

	Principal Amount		Value
SHORT-TERM INVESTMENTS - 0.4%
Repurchase Agreement - 0.3%
Fixed Income Clearing Corp. 4.450% due 04/03/23 (Dated 03/31/23, repurchase price of $1,296,531; collateralized by U.S. Treasury Notes: 2.875% due 06/15/25 and value $1,322,039)		$1,296,050		$1,296,050
U.S. Treasury Bills - 0.1%
4.664% due 06/29/23 ‡		300,000		296,647
Total Short-Term Investments (Cost $1,592,666)				1,592,697
TOTAL INVESTMENTS - 98.9% (Cost $486,651,680)				503,610,577
DERIVATIVES - 0.1%				380,518
OTHER ASSETS & LIABILITIES, NET - 1.0%				5,463,086
NET ASSETS - 100.0%				$509,454,181

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

295

PACIFIC SELECT FUND

PD INTERNATIONAL LARGE-CAP INDEX PORTFOLIO

Schedule of Investments (Continued)

March 31, 2023 (Unaudited)

Notes to Schedule of Investments

(a) Open futures contracts outstanding as of March 31, 2023 were as follows:

Long Futures Outstanding	Expiration Month		Number of Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
MSCI EAFE Index		06/23		63		$6,241,468		$6,603,975		$362,507
S&P/TSX 60 Index		06/23		4		697,756		715,767		18,011
Total Futures Contracts										$380,518

(b) Fair Value Measurements

The following is a summary of the Fund’s investments as categorized under the three-tier hierarchy of inputs used in valuing the Fund’s assets and liabilities as of March 31, 2023:

		Total Value at March 31, 2023		Level 1 Quoted Price		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets	Preferred Stocks		$2,882,265		$-		$2,882,265		$-
	Common Stocks
	Australia		33,616,963		-		33,616,963		-
	Austria		216,065		-		216,065		-
	Belgium		3,461,052		-		3,461,052		-
	Brazil		794,083		794,083		-		-
	Canada		52,532,316		52,271,593		260,723		-
	China		3,123,104		-		3,123,104		-
	Denmark		15,141,090		-		15,141,090		-
	Finland		4,743,508		-		4,743,508		-
	France		50,296,955		-		50,296,955		-
	Germany		38,153,724		-		38,153,724		-
	Hong Kong		12,088,760		-		12,088,760		-
	Ireland		1,956,233		-		1,956,233		-
	Israel		1,179,080		475,800		703,280		-
	Italy		8,357,042		-		8,357,042		-
	Japan		90,715,895		-		90,715,895		-
	Luxembourg		582,113		-		582,113		-
	Macau		842,234		-		842,234		-
	Netherlands		27,413,522		-		27,413,522		-
	Norway		2,177,285		-		2,177,285		-
	Portugal		582,189		-		582,189		-
	Singapore		6,931,215		1,283,928		5,647,287		-
	South Africa		1,541,870		-		1,541,870		-
	Spain		12,925,867		-		12,925,867		-
	Sweden		12,669,834		-		12,669,834		-
	Switzerland		27,592,004		-		27,592,004		-
	United Arab Emirates		9		-		9		-
	United Kingdom		49,868,172		443,925		49,424,247		-
	United States		39,633,431		164,772		39,468,659		-
	Total Common Stocks		499,135,615		55,434,101		443,701,514		-
	Short-Term Investments		1,592,697		-		1,592,697		-
	Derivatives:
	Equity Contracts
	Futures		380,518		380,518		-		-
	Total		$503,991,095		$55,814,619		$448,176,476		$-

See Supplemental Notes to Schedules of Investments See explanation of symbols and terms, if any on page 297

296

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Schedule of Investments (Continued)

Explanation of Symbols and Terms

March 31, 2023 (Unaudited)

Explanation of Symbols:
*	Non-income producing investments.
^	Investments with their principal amount adjusted for inflation.
§	Variable rate investments. The rate shown is based on the latest available information as of March 31, 2023. Interest rates for certain securities are subject to interest rate caps and floors, which would result in a period end rate being more, less, or equal to the referenced rate plus spread. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
Y	Issuer filed bankruptcy and/or is in default as of March 31, 2023. If the maturity date has expired, no date will be shown.
µ	All or a portion of this senior loan position has not settled. Rates do not take effect until settlement date. Rates shown, if any, are for the settled portion.
#	Securities purchased on a when-issued basis. Rates do not take effect until settlement date.
~	Securities are not registered under the Securities Act of 1933 (1933 Act). These securities are either (1) exempt from registration pursuant to Rule 144A of the 1933 Act and may only be sold to “qualified institutional buyers”, or (2) the securities comply with Regulation S rules governing offers and sales made outside the United States without registration under the 1933 Act and contain certain restrictions as to public resale.
‡	Investments were fully or partially segregated with the broker(s)/custodian as collateral for delayed delivery securities, futures contracts, forward foreign currency contracts, option contracts and/or swap agreements as of March 31, 2023.
W	The values of these investments were determined by a valuation committee established under the Valuation Policy. The Board of Trustees (“Board”) has designated Pacific Life Fund Advisors LLC (“PLFA”) as its “valuation designee” for fair valuation determinations, and PLFA’s Valuation Oversight Committee values the Funds’ investments in accordance with the Valuation Policy. Each determination was made in good faith in accordance with the procedures established by the Board and the provisions of the Investment Company Act of 1940.
>>	Stapled security. A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.
±	Investments categorized as a significant unobservable input (Level 3).
f	All or a portion of this senior loan is unfunded as of March 31, 2023. The interest rate for fully unfunded terms loans is to be determined.
à	Restricted Securities. These securities are not registered and may not be sold to the public. There are legal and/or contractual restrictions on resale. The Trust does not have the right to demand that such securities be registered. The values of these securities are determined by valuations provided by pricing services, brokers, dealers, market makers, or in good faith under the procedures established by the Board.
Counterparty and Exchange Abbreviations:
ANZ	Australia and New Zealand Banking Group
BNP	BNP Paribas
BOA	Bank of America
BRC	Barclays
CBA	Commonwealth Bank of Australia
CBOE	Chicago Board of Options Exchange
CIT	Citigroup
CME	Chicago Mercantile Exchange
DUB	Deutsche Bank
GSC	Goldman Sachs
HSB	HSBC
ICE	Intercontinental Exchange Inc
JPM	JPMorgan Chase
LCH	London Clearing House
MSC	Morgan Stanley
NWM	Natwest Markets Plc
OCC	Options Clearing Corp
SCB	Standard Chartered Bank
TDB	Toronto Dominion Bank
UBS	UBS

Currency Abbreviations:
ARS	Argentine Peso
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
CHF	Swiss Franc
CLP	Chilean Peso
CNH	Renminbi Offshore (Hong Kong)
COP	Colombian Peso
CZK	Czech Koruna
DKK	Danish Krone
EUR	Euro
GBP	British Pound
HUF	Hungarian Forint
IDR	Indonesian Rupiah
ILS	Israeli Shekel
INR	Indian Rupee
JPY	Japanese Yen
KRW	Korean Won
MXN	Mexican Peso
NOK	Norwegian Krone
NZD	New Zealand Dollar
PEN	Peruvian Nuevo Sol
PLN	Polish Zloty
RON	Romanian Leu
RUB	Russian Ruble
THB	Thai Baht
TWD	Taiwan Dollar
USD	United States Dollar
ZAR	South African Rand
Reference Rate Abbreviations:
LIBOR	London Interbank Offered Rate
SOFR	Secured Overnight Financing Rate
SONIA	Sterling Overnight Index Average
US FED	United States Federal Reserve Bank Rate
UST	United State Treasury Rate
Payment Frequency Abbreviations:
A	Annual
L	Lunar
Q	Quarterly
S	Semiannual
Z	At Maturity
Other Abbreviations:
ADR	American Depositary Receipt
GDR	Global Depositary Receipt
IO	Interest Only
NVDR	Non-Voting Depositary Receipt
NY	New York Shares
PIK	Payment In Kind
PO	Principal Only
REIT	Real Estate Investment Trust
SPAC	Special Purpose Acquisition Company

Notes:

For debt investments, the interest rates disclosed in the Schedules of Investments reflect the stated coupon rate or for discounted investments or zero coupon bonds, the yield-to-maturity.

The sectors and countries (based on country of risk) listed in the Schedules of Investments are obtained from a third-party source that is not affiliated with the Trust or the investment adviser, and are believed to be reliable. Sector names, country names and weightings could be different if obtained from another source.

See Supplemental Notes to Schedules of Investments

297

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SUPPLEMENTAL NOTES TO SCHEDULES OF INVESTMENTS

March 31, 2023 (Unaudited)

1. ORGANIZATION

Pacific Select Fund (the “Trust”) is registered under the Investment Company Act of 1940 (“1940 Act”), as amended, as a diversified, open-end, investment management company. The Trust was organized on May 4, 1987 as a Massachusetts business trust (the “Massachusetts Trust”), and was reorganized as a Delaware statutory trust on June 30, 2016. In connection with other actions taken to accomplish the reorganization, the Massachusetts Trust, as sole initial shareholder of each Fund of the Trust, approved all material agreements of the Trust, including the investment advisory and sub-advisory agreements. These agreements were also approved by the initial Trustees of the Trust, who served as the Trustees of the Massachusetts Trust prior to the reorganization.

Pacific Life Fund Advisors LLC (“PLFA” or the “Investment Adviser”) serves as investment adviser to the Trust. The Trust is comprised of separate funds (each individually a “Fund”, and collectively the “Funds”).

2. FAIR VALUE MEASUREMENTS AND DISCLOSURES

The Trust characterizes its investments as Level 1, Level 2, or Level 3 based upon the various inputs or methodologies used to value the investments. Under the Valuation Policy, the VOC determines the level in which each investment is characterized. The VOC includes investment, legal, and compliance members of the Trust’s Investment Adviser, accounting members of Pacific Life Insurance Company, and the Trust’s Chief Compliance Officer (“CCO”). The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

●    Level 1 – Quoted prices (unadjusted) in active markets for identical investments

●    Level 2 – Significant observable market-based inputs, other than Level 1 quoted prices, or unobservable inputs that are corroborated by market data

●    Level 3 – Significant unobservable inputs that are not corroborated by observable market data

The VOC reviews the Valuation Policy periodically (at least annually) to determine the appropriateness of the pricing methodologies used to value each Fund’s investments. The VOC also periodically evaluates how the Trust’s investments are characterized within the three-tier hierarchy and the appropriateness of third party pricing sources. The VOC also periodically (at least annually) conducts back-testing of the value of various Level 2 and Level 3 investments to evaluate the effectiveness of the pricing methodologies including the unobservable inputs used to value those investments. Such back-testing includes comparing Level 2 and Level 3 investment values to subsequently available exchange-traded prices, transaction prices, and/or observable vendor prices. All changes to the Valuation Policy are reported to the Board on a quarterly basis with material changes, as determined by the Trust’s CCO, requiring approval by the Board.

The inputs or methodologies used for characterizing each Fund’s investments within the three-tier hierarchy are not necessarily an indication of the relative risks associated with investing in those investments. Foreign equity investments that are valued with the assistance of a statistical research service approved by the Board and based on significant observable inputs are reflected as Level 2. Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy.

The following is a description of valuation inputs and techniques that the Trust currently utilizes to fair value each major category of assets and liabilities:

Equity Securities (Common and Preferred Stock) and Mutual Funds

Equity securities (foreign or domestic) that are actively traded on a securities exchange are fair valued based on quoted prices from the applicable exchange, and to the extent valuation adjustments are not applied to these securities, they are categorized as Level 1. Equity securities traded on inactive markets and certain foreign equity securities are fair valued using significant other observable inputs which include broker-dealer quotes, recently executed transactions adjusted for changes in the benchmark index, or evaluated price quotes received from pricing vendors that take into account the integrity of the market sector and issuer, the individual characteristics of the security, and information received from broker-dealers and other market sources pertaining to the issuer or security. To the extent that these inputs are observable and timely, the fair values of these securities would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Investments in registered mutual funds, including affiliated registered mutual funds, are valued at their respective published NAV and are categorized as Level 1.

U.S. Treasury Obligations

U.S. Treasuries are fair valued based on pricing models that evaluate the mean between the most recently published bid and ask price from market data sources. The models also take into consideration yield curves and data received from active market makers and inter-dealer brokers. Yield curves change daily in response to market conditions and are generally obtained from the new issue market and broker-dealer sources. To the extent that these inputs are observable and timely, the fair values of U.S. Treasury obligations would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Mortgage-Backed and Asset-Backed Securities

Mortgage-backed securities, including government sponsored enterprises, are fair valued using pricing models based on inputs that include issuer type, coupon, and cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic and life caps, the next coupon reset date, and the convertibility of the bond. To the extent that these inputs are observable and timely, the fair values of mortgage-backed securities would be categorized as Level 2; otherwise the fair value would be categorized as Level 3.

Asset-backed securities and collateralized mortgage obligations are fair valued using pricing models based on a security’s average life volatility. The models also take into account tranche characteristics such as coupon average life, collateral types, ratings, the issuer and tranche type, underlying collateral and performance of the collateral, and discount margin for certain floating rate issues. To the extent that these inputs are observable and timely, the fair values of asset-backed securities and collateralized mortgage obligations would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

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March 31, 2023 (Unaudited)

Municipal Bonds

Municipal bonds are fair valued based on pricing models that take into account, among other factors, information received from market makers and broker-dealers, current trades, bid lists, offerings, market movements, the callability of the bond, state of issuance, benchmark yield curves, and bond insurance. To the extent that these inputs are observable and timely, the fair values of municipal bonds would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Foreign Government Bonds and Notes

Foreign government bonds and notes are fair valued based on discounted cash flow models that incorporate option adjusted spreads along with benchmark curves and credit spreads. In addition, international bond markets are monitored daily for information pertaining to the issuer and/or the specific issue. To the extent that these inputs are observable and timely, the fair values of foreign government bonds and notes would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Corporate Bonds and Notes and U.S. Government Agency Issues

Corporate bonds held by a Fund are generally comprised of two main categories: investment grade bonds and high yield bonds. Investment grade bonds are reported at fair value using various inputs and techniques, which include broker-dealer quotations, live trading levels, recently executed transactions in securities of the issuer or comparable issuers, issuer credit information, and option-adjusted spread models where applicable. Fair values for high yield bonds are based primarily on broker-dealer quotations from relevant market makers and recently executed transactions in securities of the issuer or comparable issuers. The broker-dealer quotations received are supported by credit analysis of the issuer that takes into consideration credit quality assessments, daily trading activity, and the activity of the underlying equities, listed bonds, and sector-specific trends. To the extent that these inputs are observable and timely, the fair values of corporate bonds would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

U.S. Government Agency Issues are reported at fair value using various inputs and techniques, which include broker-dealer quotations, live trading levels, recently executed transactions in securities of the issuer, issuer credit information, and option-adjusted spread models where applicable. To the extent that these inputs are observable and timely, the fair values of U.S. Government Agency Issues would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Futures Contracts

Futures contracts and options on futures contracts that are actively traded on commodity exchanges are fair valued based on quoted prices from the applicable exchange, and to the extent valuation adjustments are not applied to futures contracts, they are categorized as Level 1. To the extent that valuation adjustments are observable and timely, the fair values of futures contracts would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Option Contracts

Exchange listed option contracts that are traded on securities exchanges are categorized as Level 2 if they are fair valued based on quoted prices from the applicable exchange, or when valuation adjustments are applied to option contracts, or such valuation adjustments are observable and timely, otherwise the fair values would be categorized as Level 3. OTC option contracts are fair valued based on either broker-dealer quotations or pricing models that incorporate various inputs such as interest rates, credit spreads, currency exchange rates and volatility measurements for in-the-money, at-the-money, and out-of-the-money contracts based on a given strike price. To the extent that these inputs are observable and timely, the fair values of OTC option contracts would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Forward Foreign Currency Contracts

Forward foreign currency contracts are fair valued using the mean between broker-dealer bid and ask quotations, and forward foreign currency exchange rates gathered from leading market makers. To the extent that these inputs are observable and timely, the fair values of forward foreign currency contracts would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Forward Bond Contracts

Forward bond contracts are generally valued based on the current price of the underlying bond, as provided by a third-party pricing service, and current interest rates. To the extent that these inputs are observable and timely, the fair values of forward bonds would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Swap Agreements

Interest Rate Swaps – Interest rate swaps are fair valued using pricing models that are based on real-time snap shots of relevant interest rate curves that are built using the most actively traded securities for a given maturity. The pricing models also incorporate cash and money market rates. In addition, market data pertaining to interest rate swaps are monitored regularly to ensure that interest rates are properly depicting the current market rate. To the extent that these inputs are observable and timely, the fair values of interest rate swaps would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Credit Default Swaps – Credit default swaps are fair valued using pricing models that take into account, among other factors, information received from market makers and broker-dealers, default probabilities from index specific credit spread curves, recovery rates, and cash flows. To the extent that these inputs are observable and timely, the fair values of credit default swaps would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Total Return Swaps – Total return swaps are fair valued using pricing models that take into account among other factors, index spread curves, nominal values, modified duration values and cash flows. To the extent that these inputs are observable and timely, the fair values of total return swaps would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

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SUPPLEMENTAL NOTES TO SCHEDULES OF INVESTMENTS (Continued)

March 31, 2023 (Unaudited)

Senior Loan Notes

Floating rate senior loan notes (“Senior Loans”) are fair valued based on a quoted price received from a single broker-dealer or an average of quoted prices received from multiple broker-dealers or valued relative to other benchmark securities when broker-dealer quotes are unavailable. To the extent that these inputs are observable, the fair values of Senior Loans would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Unfunded loan commitments on senior loan participations and assignments, if any, are marked to market daily and valued according to the Trust’s valuation policies and procedures.

The total unfunded loan commitments that could be extended at the option of the borrowers for the period ended March 31, 2023 are summarized in the following table:

Portfolio	Unfunded Loan Commitments		Value		Net Unrealized Appreciation (Depreciation)
Diversified Bond		$155,868		$145,347		($10,521	)
Floating Rate Income		99,065		101,794		2,729

3. INVESTMENTS IN AFFILIATED FUNDS

A summary of holdings and transactions with affiliated mutual fund investments as of and for the period ended March 31, 2023 is as follows:

	Beginning Value as of January 1, 2023		Purchase Cost		Sales Proceeds		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			As of March 31, 2023
													Ending Value		Share Balance
ESG Diversified
Pacific Funds ESG Core Bond Class I		$2,482,737		$567,292		$6,141		($951	)		$64,291			$3,107,228		361,726
ESG Diversified Growth
Pacific Funds ESG Core Bond Class I		$598,676		$308,359		$2,301		($361	)		$16,300			$920,673		107,180
Pacific Dynamix – Conservative Growth
PD 1-3 Year Corporate Bond Class P		$28,620,678		$22,803,135		$540,270		$33,050			$327,018			$51,243,611		4,617,481
PD Aggregate Bond Index Class P		215,186,313		13,033,684		4,631,403		466,320			6,178,739			230,233,653		18,458,474
PD High Yield Bond Market Class P		57,074,225		8,087		27,323,723		2,805,183			(1,299,081	)		31,264,691		1,780,614
PD Large-Cap Growth Index Class P		58,194,749		143,802		10,317,803		3,931,201			3,932,732			55,884,681		840,392
PD Large-Cap Value Index Class P		62,692,209		5,261,391		2,365,492		718,846			176,477			66,483,431		1,645,789
PD Mid-Cap Index Class P		33,677,806		74,309		5,551,261		736,778			475,397			29,413,029		2,490,086
PD Small-Cap Growth Index Class P		2,552,649		2,703,505		232,774		(65,119	)		356,948			5,315,209		144,322
PD Small-Cap Value Index Class P		10,265,059		37,769		4,841,344		(882,055	)		697,455			5,276,884		171,123
PD Emerging Markets Index Class P		5,255,478		5,360,256		565,755		(169,520	)		646,197			10,526,656		622,456
PD International Large-Cap Index Class P		44,999,269		76,165		13,596,351		2,385,659			667,670			34,532,412		1,472,252
Total		$518,518,435		$49,502,103		$69,966,176		$9,960,343			$12,159,552			$520,174,257
Pacific Dynamix – Moderate Growth
PD 1-3 Year Corporate Bond Class P		$96,486,802		$130,150,388		$545,472		$48,775			$1,269,378			$227,409,871		20,491,544
PD Aggregate Bond Index Class P		622,379,275		55,895,253		4,132,819		430,589			18,871,899			693,444,197		55,595,355
PD High Yield Bond Market Class P		192,986,161		135,926		88,583,148		7,737,446			(2,599,969	)		109,676,416		6,246,386
PD Large-Cap Growth Index Class P		418,768,631		1,198,251		41,206,578		25,088,886			33,021,713			436,870,903		6,569,651
PD Large-Cap Value Index Class P		438,649,925		39,446,566		8,853,107		3,931,190			2,511,234			475,685,808		11,775,541
PD Mid-Cap Index Class P		204,015,410		-		58,589,496		6,797,298			(1,236,572	)		150,986,640		12,782,419
PD Small-Cap Growth Index Class P		23,305,037		13,000,219		856,365		(256,199	)		2,327,867			37,520,559		1,018,779
PD Small-Cap Value Index Class P		58,875,325		3,683		20,729,857		(3,882,486	)		2,898,256			37,164,921		1,205,210
PD Emerging Markets Index Class P		36,518,054		24,480,498		1,866,275		(43,085	)		2,726,812			61,816,004		3,655,267
PD International Large-Cap Index Class P		297,200,664		-		91,588,337		26,306,236			(6,418,137	)		225,500,426		9,613,969
Total		$2,389,185,284		$264,310,784		$316,951,454		$66,158,650			$53,372,481			$2,456,075,745
Pacific Dynamix – Growth
PD 1-3 Year Corporate Bond Class P		$43,521,954		$122,394,413		$56,776		$1,857			$709,447			$166,570,895		15,009,440
PD Aggregate Bond Index Class P		188,906,216		59,250,978		185,280		5,100			5,885,618			253,862,632		20,352,875
PD High Yield Bond Market Class P		112,220,115		701,116		62,125,716		8,075,565			(5,327,555	)		53,543,525		3,049,457
PD Large-Cap Growth Index Class P		362,031,425		3,447,316		74,798,304		42,844,959			5,680,203			339,205,599		5,100,963
PD Large-Cap Value Index Class P		376,623,299		57,924,654		1,177,093		490,330			6,062,015			439,923,205		10,890,242
PD Mid-Cap Index Class P		171,705,138		236,254		29,751,253		3,220,380			2,059,125			147,469,644		12,484,673
PD Small-Cap Growth Index Class P		42,159,967		1,402,912		356,839		(111,562	)		2,712,658			45,807,136		1,243,781
PD Small-Cap Value Index Class P		67,891,711		284,597		21,460,738		(2,780,491	)		1,521,011			45,456,090		1,474,082
PD Emerging Markets Index Class P		61,742,048		9,155,764		1,058,427		34,461			2,971,871			72,845,717		4,307,469
PD International Large-Cap Index Class P		297,637,001		-		69,139,132		19,438,782			1,384,372			249,321,023		10,629,534
Total		$1,724,438,874		$254,798,004		$260,109,558		$71,219,381			$23,658,765			$1,814,005,466
Portfolio Optimization Conservative
Core Income Class P		$46,158,428		$52,431,384		$1,828,680		$114,251			$2,022,472			$98,897,855		8,450,199
Diversified Bond Class P		205,012,875		935,574		45,140,270		1,955,063			4,096,331			166,859,573		12,249,352
Floating Rate Income Class P		52,792,915		38,115		37,110,153		1,091,814			570,785			17,383,476		1,208,982
High Yield Bond Class P		81,898,298		284,635		31,994,013		6,155,576			(3,853,466	)		52,491,030		5,189,013
Inflation Managed Class P		52,729,380		14,575		13,632,334		1,528,014			(68,270	)		40,571,365		2,953,009
Intermediate Bond Class P		156,656,884		90,986		15,856,029		(1,846,464	)		7,000,742			146,046,119		16,234,513
Managed Bond Class P		205,336,072		33,086		17,432,235		196,658			5,931,333			194,064,914		13,355,792
Short Duration Bond Class P		140,763,058		136,732		5,191,839		211,369			1,891,596			137,810,916		12,681,288
Emerging Markets Debt Class P		29,448,610		197,633		1,594,314		(127,550	)		1,121,423			29,045,802		2,489,984
Dividend Growth Class P		15,141,695		1,234,017		759,120		341,183			5,822			15,963,597		428,799
Equity Index Class P		10,285,707		440,494		815,231		376,798			405,950			10,693,718		98,234
Focused Growth Class P		13,272,753		5,516,748		1,688,935		(245,706	)		2,220,969			19,075,829		393,703
Growth Class P		10,210,757		8,306,466		983,026		349,284			1,112,332			18,995,813		353,444
Large-Cap Core Class P		10,234,665		6,771,282		895,558		384,042			702,032			17,196,463		261,321
Large-Cap Growth Class P		9,973,586		6,512,422		1,225,802		409,955			1,590,266			17,260,427		812,419
Large-Cap Value Class P		16,343,875		6,206,775		976,805		449,208			(117,819	)		21,905,234		614,809
Mid-Cap Equity Class P		6,925,454		5,222,841		654,300		279,119			150,795			11,923,909		333,109
Mid-Cap Growth Class P		13,612,373		4,384,670		1,849,333		94,825			1,637,253			17,879,788		656,424
Mid-Cap Value Class P		13,899,585		10,660,919		1,572,059		788,980			34,603			23,812,028		619,605
Small-Cap Equity Class P		8,531,541		203,225		5,683,096		(790,637	)		696,289			2,957,322		84,915
Small-Cap Value Class P		8,500,609		180,980		5,560,442		(925,887	)		756,690			2,951,950		94,308

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March 31, 2023 (Unaudited)

	Beginning Value as of January 1, 2023		Purchase Cost		Sales Proceeds		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			As of March 31, 2023
													Ending Value		Share Balance
Value Class P		15,260,001		9,728,151		968,393		412,493			(186,388	)		24,245,864		1,098,853
Value Advantage Class P		14,476,330		7,120,174		982,074		485,741			(365,511	)		20,734,660		882,854
Emerging Markets Class P		5,827,734		11,698,955		974,714		(274,314	)		1,315,096			17,592,757		932,714
International Growth Class P		2,916,351		16,181,147		856,260		(171,927	)		1,553,737			19,623,048		2,277,341
International Large-Cap Class P		5,259,173		3,076,071		753,639		109,295			607,838			8,298,738		594,873
International Small-Cap Class P		5,890,236		14,018		6,058,237		(386,919	)		540,902			-		-
International Value Class P		9,442,422		4,477		2,325,096		85,244			494,060			7,701,107		453,495
Total		$1,166,801,367		$157,626,552		$205,361,987		$11,049,508			$31,867,862			$1,161,983,302
Portfolio Optimization Moderate-Conservative
Core Income Class P		$54,702,177		$61,482,652		$1,610,249		($37,035	)		$2,560,277			$117,097,822		10,005,272
Diversified Bond Class P		243,709,531		49,847		52,270,821		3,855,807			3,274,440			198,618,804		14,580,834
Floating Rate Income Class P		66,499,438		-		52,103,690		1,720,009			315,763			16,431,520		1,142,775
High Yield Bond Class P		116,218,895		-		69,314,294		5,946,398			(3,186,437	)		49,664,562		4,909,602
Inflation Managed Class P		58,007,614		26,978		18,444,073		2,743,192			(1,189,614	)		41,144,097		2,994,695
Intermediate Bond Class P		186,487,254		41,461		19,298,047		(2,246,694	)		8,380,345			173,364,319		19,271,209
Managed Bond Class P		244,071,521		42,439		21,309,954		1,307,631			5,942,201			230,053,838		15,832,595
Short Duration Bond Class P		82,953,511		96,039,896		1,386,036		52,833			1,120,333			178,780,537		16,451,291
Emerging Markets Debt Class P		25,201,269		4,578		9,414,318		(72,691	)		776,901			16,495,739		1,414,115
Dividend Growth Class P		40,585,961		5,681,446		1,071,513		478,654			549,519			46,224,067		1,241,628
Equity Index Class P		26,906,439		5,174,088		1,367,737		481,285			1,777,307			32,971,382		302,880
Focused Growth Class P		36,002,930		-		3,355,246		(493,828	)		5,158,423			37,312,279		770,082
Growth Class P		27,073,826		11,097,600		1,030,396		331,692			3,059,803			40,532,525		754,165
Large-Cap Core Class P		26,774,763		20,621,242		1,456,976		622,884			2,364,446			48,926,359		743,496
Large-Cap Growth Class P		24,980,975		6,780,907		769,706		267,651			4,316,256			35,576,083		1,674,506
Large-Cap Value Class P		41,573,185		6,465,986		1,314,360		600,872			(176,756	)		47,148,927		1,323,317
Mid-Cap Equity Class P		13,955,665		3,311,399		774,179		206,247			266,107			16,965,239		473,944
Mid-Cap Growth Class P		25,044,000		-		2,377,404		868,333			1,913,198			25,448,127		934,281
Mid-Cap Value Class P		34,796,383		1,242,531		2,855,043		1,131,976			(446,748	)		33,869,099		881,297
Small-Cap Equity Class P		10,574,472		-		3,849,278		(529,154	)		525,248			6,721,288		192,991
Small-Cap Growth Class P		2,438,940		3,415,813		274,832		112,657			265,852			5,958,430		200,025
Small-Cap Index Class P		11,239,082		-		5,480,059		2,320,168			(2,186,733	)		5,892,458		201,486
Small-Cap Value Class P		8,102,900		-		1,377,789		(174,049	)		154,050			6,705,112		214,214
Value Class P		39,332,915		16,701,653		1,488,142		282,779			(104,689	)		54,724,516		2,480,183
Value Advantage Class P		38,033,267		8,306,899		1,511,763		745,223			(922,787	)		44,650,839		1,901,172
Emerging Markets Class P		24,874,021		8,547,661		2,609,823		270,164			2,377,628			33,459,651		1,773,929
International Growth Class P		24,871,641		5,108,238		2,251,325		(456,398	)		3,335,391			30,607,547		3,552,141
International Large-Cap Class P		33,241,459		-		12,200,384		3,038,696			(348,710	)		23,731,061		1,701,098
International Small-Cap Class P		16,787,954		3,715		17,222,717		1,800,090			(1,369,042	)		-		-
International Value Class P		50,671,417		-		14,646,401		4,126,025			(1,199,048	)		38,951,993		2,293,767
Real Estate Class P		15,465,452		1,129,025		284,166		58,605			483,443			16,852,359		523,358
Total		$1,651,178,857		$261,276,054		$324,720,721		$29,360,022			$37,786,367			$1,654,880,579
Portfolio Optimization Moderate
Core Income Class P		$181,668,397		$141,860,437		$4,337,707		$389,675			$7,556,373			$327,137,175		27,951,813
Diversified Bond Class P		808,973,501		-		281,477,319		804,141			21,740,362			550,040,685		40,379,116
Floating Rate Income Class P		250,482,506		-		222,549,344		5,410,245			1,961,112			35,304,519		2,455,350
High Yield Bond Class P		357,046,620		-		188,077,525		26,962,560			(18,067,213	)		177,864,442		17,582,830
Inflation Managed Class P		141,721,348		-		4,649,507		703,272			3,763,897			141,539,010		10,301,994
Intermediate Bond Class P		618,155,170		-		156,072,996		(17,683,841	)		38,052,207			482,450,540		53,629,290
Managed Bond Class P		808,307,970		-		190,200,344		2,243,226			21,342,490			641,693,342		44,162,143
Short Duration Bond Class P		320,501,058		376,498,810		3,487,550		203,747			4,346,359			698,062,424		64,235,337
Emerging Markets Debt Class P		72,800,976		-		4,280,610		(323,936	)		2,741,295			70,937,725		6,081,215
Dividend Growth Class P		264,349,903		82,993,855		4,780,189		1,893,161			6,633,210			351,089,940		9,430,656
Equity Index Class P		175,555,675		76,779,399		7,015,427		2,446,014			14,406,529			262,172,190		2,408,352
Focused Growth Class P		237,941,873		17,251,178		2,695,365		(382,834	)		32,703,887			284,818,739		5,878,325
Growth Class P		190,983,577		58,879,675		3,771,434		1,157,237			21,888,773			269,137,828		5,007,688
Large-Cap Core Class P		174,589,455		178,163,166		7,291,266		3,327,257			18,169,823			366,958,435		5,576,380
Large-Cap Growth Class P		176,406,232		24,121,119		1,941,029		668,696			30,542,923			229,797,941		10,816,201
Large-Cap Value Class P		251,567,405		45,676,544		6,314,381		2,871,575			(48,915	)		293,752,228		8,244,669
Mid-Cap Equity Class P		81,159,789		-		9,362,205		2,104,993			(808,206	)		73,094,371		2,041,980
Mid-Cap Growth Class P		166,670,951		-		72,383,098		31,100,106			(15,806,365	)		109,581,594		4,023,088
Mid-Cap Value Class P		171,693,280		-		27,865,579		10,117,679			(7,981,873	)		145,963,507		3,798,068
Small-Cap Equity Class P		77,338,337		-		33,563,002		(4,824,418	)		4,490,943			43,441,860		1,247,361
Small-Cap Growth Class P		45,293,004		9,555,844		3,699,370		1,528,965			2,295,209			54,973,652		1,845,466
Small-Cap Index Class P		48,363,019		-		13,072,183		5,345,952			(4,370,084	)		36,266,704		1,240,100
Small-Cap Value Class P		76,893,241		-		28,986,343		(4,807,010	)		3,865,119			46,965,007		1,500,432
Value Class P		246,034,188		76,956,915		7,238,603		1,375,692			(1,627,852	)		315,500,340		14,298,867
Value Advantage Class P		231,951,000		55,595,886		7,095,369		2,666,690			(3,619,154	)		279,499,053		11,900,689
Emerging Markets Class P		107,471,664		70,645,587		11,027,006		1,141,165			11,784,958			180,016,368		9,543,920
International Growth Class P		157,635,682		87,317,914		14,456,160		(2,943,868	)		24,926,759			252,480,327		29,301,455
International Large-Cap Class P		187,242,780		-		50,369,186		12,667,868			3,704,306			153,245,768		10,985,018
International Small-Cap Class P		72,621,911		-		40,053,261		10,024,747			(6,328,633	)		36,264,764		2,200,694
International Value Class P		272,600,151		-		108,039,571		32,191,747			(18,089,790	)		178,662,537		10,520,906
Real Estate Class P		99,145,547		-		28,564,532		3,569,043			(1,627,154	)		72,522,904		2,252,232
Total		$7,073,166,210		$1,302,296,329		$1,544,717,461		$131,949,546			$198,541,295			$7,161,235,919
Portfolio Optimization Growth
Core Income Class P		$107,736,766		$98,861,665		$2,800,847		$167,319			$4,659,362			$208,624,265		17,825,631
Diversified Bond Class P		477,364,532		-		6,290,766		(45,305	)		14,827,496			485,855,957		35,667,242
Floating Rate Income Class P		98,488,503		-		101,237,741		6,622,479			(3,873,241	)		-		-
High Yield Bond Class P		196,947,124		-		4,449,969		573,546			6,179,626			199,250,327		19,696,936
Inflation Managed Class P		128,984,410		-		986,519		(91,407	)		4,209,141			132,115,625		9,616,108
Intermediate Bond Class P		363,474,496		-		5,604,370		(663,459	)		12,746,452			369,953,119		41,124,056
Managed Bond Class P		481,396,739		-		7,076,742		61,904			14,462,786			488,844,687		33,642,907
Short Duration Bond Class P		162,943,893		-		1,736,795		77,439			2,391,977			163,676,514		15,061,427
Emerging Markets Debt Class P		67,242,257		-		3,155,507		446,033			1,798,710			66,331,493		5,686,341
Dividend Growth Class P		339,652,186		-		2,795,048		955,432			5,671,309			343,483,879		9,226,349

301

PACIFIC SELECT FUND

SUPPLEMENTAL NOTES TO SCHEDULES OF INVESTMENTS (Continued)

March 31, 2023 (Unaudited)

	Beginning Value as of January 1, 2023		Purchase Cost		Sales Proceeds		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			As of March 31, 2023
													Ending Value		Share Balance
Equity Index Class P		226,369,333		-		5,980,624		2,073,018			14,764,758			237,226,485		2,179,197
Focused Growth Class P		320,200,482		-		2,276,327		(336,660	)		42,724,697			360,312,192		7,436,421
Growth Class P		255,494,285		-		3,124,100		945,180			26,210,626			279,525,991		5,200,974
Large-Cap Core Class P		224,916,310		-		5,353,305		2,122,460			14,915,442			236,600,907		3,595,439
Large-Cap Growth Class P		237,581,571		-		2,166,233		742,597			39,614,652			275,772,587		12,980,150
Large-Cap Value Class P		309,209,521		-		4,269,348		1,683,704			(719,527	)		305,904,350		8,585,739
Mid-Cap Equity Class P		106,897,029		-		1,874,542		597,952			1,538,175			107,158,614		2,993,605
Mid-Cap Growth Class P		200,854,576		-		10,719,741		4,874,368			17,338,077			212,347,280		7,795,941
Mid-Cap Value Class P		241,307,151		-		12,723,209		6,206,642			(2,150,672	)		232,639,912		6,053,446
Small-Cap Equity Class P		84,509,932		-		3,942,898		2,351,545			(1,449,774	)		81,468,805		2,339,241
Small-Cap Growth Class P		38,564,519		-		2,115,746		883,857			1,879,821			39,212,451		1,316,362
Small-Cap Index Class P		54,073,410		-		1,829,062		849,101			724,755			53,818,204		1,840,254
Small-Cap Value Class P		80,662,268		-		3,862,563		1,773,057			(1,840,856	)		76,731,906		2,451,420
Value Class P		298,253,891		-		4,513,491		949,977			(5,760,406	)		288,929,971		13,094,665
Value Advantage Class P		286,645,908		-		4,640,304		1,799,949			(6,268,334	)		277,537,219		11,817,157
Emerging Markets Class P		165,549,244		-		12,644,720		3,653,775			11,521,367			168,079,666		8,911,072
International Growth Class P		252,514,387		-		17,387,960		(3,576,893	)		29,416,746			260,966,280		30,286,288
International Large-Cap Class P		227,774,185		-		18,952,196		5,072,506			17,544,518			231,439,013		16,590,094
International Small-Cap Class P		100,714,113		-		7,481,780		1,856,022			5,761,026			100,849,381		6,119,954
International Value Class P		261,270,865		-		28,552,908		11,755,239			6,105,513			250,578,709		14,755,836
Real Estate Class P		90,728,642		-		-		-			2,818,156			93,546,798		2,905,139
Total		$6,488,322,528		$98,861,665		$290,545,361		$54,381,377			$277,762,378			$6,628,782,587
Portfolio Optimization Aggressive-Growth
Core Income Class P		$12,345,355		$23,615,509		$327,200		$20,235			$620,073			$36,273,972		3,099,383
Diversified Bond Class P		53,685,035		-		417,983		(4,002	)		1,667,800			54,930,850		4,032,537
Floating Rate Income Class P		23,339,977		-		23,991,201		575,765			75,459			-		-
High Yield Bond Class P		46,658,820		-		743,576		93,871			1,508,309			47,517,424		4,697,346
Inflation Managed Class P		15,220,759		-		67,307		(6,008	)		492,670			15,640,114		1,138,374
Intermediate Bond Class P		41,351,624		-		451,463		(52,416	)		1,429,131			42,276,876		4,699,505
Managed Bond Class P		53,718,043		-		525,299		5,273			1,618,258			54,816,275		3,772,525
Short Duration Bond Class P		15,426,604		-		122,577		5,541			228,419			15,537,987		1,429,797
Emerging Markets Debt Class P		15,928,504		-		589,889		81,524			449,335			15,869,474		1,360,428
Dividend Growth Class P		90,045,861		-		339,524		112,478			1,641,006			91,459,821		2,456,710
Equity Index Class P		59,910,883		-		1,197,460		559,495			3,890,993			63,163,911		580,233
Focused Growth Class P		85,710,523		-		332,785		(47,798	)		11,404,653			96,734,593		1,996,489
Growth Class P		68,602,731		-		648,169		195,618			7,101,219			75,251,399		1,400,158
Large-Cap Core Class P		59,479,760		-		998,120		389,376			4,111,722			62,982,738		957,099
Large-Cap Growth Class P		63,067,400		-		364,777		125,522			10,595,000			73,423,145		3,455,903
Large-Cap Value Class P		80,684,866		-		574,915		224,544			17,610			80,352,105		2,255,222
Mid-Cap Equity Class P		26,820,194		-		98,253		51,746			469,828			27,243,515		761,080
Mid-Cap Growth Class P		54,482,569		-		2,244,843		1,012,749			4,995,973			58,246,448		2,138,412
Mid-Cap Value Class P		57,413,203		-		2,126,111		1,035,254			(115,553	)		56,206,793		1,462,538
Small-Cap Equity Class P		26,349,270		-		845,194		366,654			(114,198	)		25,756,532		739,556
Small-Cap Growth Class P		29,596,741		-		961,177		196,309			1,905,803			30,737,676		1,031,864
Small-Cap Index Class P		16,638,562		-		322,843		149,864			319,194			16,784,777		573,937
Small-Cap Value Class P		26,914,092		-		877,541		402,031			(462,802	)		25,975,780		829,871
Value Class P		78,095,772		-		748,756		155,939			(1,430,782	)		76,072,173		3,447,685
Value Advantage Class P		74,457,179		-		562,934		248,226			(1,443,778	)		72,698,693		3,095,411
Emerging Markets Class P		70,681,832		-		4,602,559		1,329,920			5,129,367			72,538,560		3,845,774
International Growth Class P		70,239,534		-		4,232,194		(889,354	)		8,084,353			73,202,339		8,495,454
International Large-Cap Class P		66,045,878		-		4,812,262		1,277,129			5,286,782			67,797,527		4,859,887
International Small-Cap Class P		47,804,784		-		2,980,035		731,021			2,883,607			48,439,377		2,939,500
International Value Class P		80,261,729		-		7,335,528		1,457,248			4,012,570			78,396,019		4,616,509
Real Estate Class P		28,568,254		-		-		-			887,369			29,455,623		914,758
Total		$1,539,546,338		$23,615,509		$64,442,475		$9,803,754			$77,259,390			$1,585,782,516

As of March 31, 2023, Pacific Life owned the following percentages of the total shares outstanding (aggregate of all share classes) of each of the following Funds:

Portfolio	Ownership Percentage
ESG Diversified		43.06%
ESG Diversified Growth		87.17%

302