|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.7%
|
|||
|
|
Other Asset-Backed Securities - 99.7%
|
||
|
$ 1,600,000
|
522 Funding CLO A Ltd. 5.33%, 10/20/2034,
3 mo. USD Term SOFR + 1.44%(1)(2)
|
$1,601,198
|
|
|
1,000,000
|
720 East CLO IV Ltd. 5.50%, 04/15/2037, 3 mo.
USD Term SOFR + 1.60%(1)(2)
|
1,000,431
|
|
|
|
720 East CLO Ltd.
|
|
|
|
420,000
|
5.27%, 04/15/2038, 3 mo. USD Term SOFR +
1.37%(1)(2)
|
421,172
|
|
|
1,000,000
|
5.62%, 10/15/2038, 3 mo. USD Term SOFR +
1.45%(1)(2)
|
1,001,206
|
|
|
880,000
|
720 East CLO VI Ltd. 5.24%, 01/20/2038, 3 mo.
USD Term SOFR + 1.36%(1)(2)
|
880,850
|
|
|
2,000,000
|
AGL CLO 3 Ltd. 5.05%, 04/15/2038, 3 mo. USD
Term SOFR + 1.15%(1)(2)
|
1,998,906
|
|
|
1,000,000
|
AGL CLO 33 Ltd. 5.22%, 07/21/2037, 3 mo. USD
Term SOFR + 1.35%(1)(2)
|
1,003,439
|
|
|
400,000
|
Allegany Park CLO Ltd. 4.98%, 01/20/2035, 3 mo.
USD Term SOFR + 1.10%(1)(2)
|
400,218
|
|
|
1,000,000
|
Apidos CLO Ltd. 5.22%, 01/20/2038, 3 mo. USD
Term SOFR + 1.34%(1)(2)
|
1,001,721
|
|
|
2,000,000
|
Apidos CLO XL Ltd. 5.25%, 07/15/2037, 3 mo.
USD Term SOFR + 1.35%(1)(2)
|
2,005,794
|
|
|
675,000
|
Apidos CLO XLVI Ltd. 5.62%, 10/24/2038, 3 mo.
USD Term SOFR + 1.40%(1)(2)
|
675,184
|
|
|
600,000
|
Apidos CLO XXVIII Ltd. 5.92%, 10/20/2038,
3 mo. USD Term SOFR + 1.65%(1)(2)
|
599,517
|
|
|
800,000
|
Apidos CLO XXXIII Ltd. 5.82%, 04/24/2038,
3 mo. USD Term SOFR + 1.95%(1)(2)
|
802,517
|
|
|
1,000,000
|
Apidos CLO XXXIX Ltd. 5.40%, 10/21/2038,
3 mo. USD Term SOFR + 1.23%(1)(2)
|
1,001,217
|
|
|
1,000,000
|
ARES LX CLO Ltd. 5.06%, 07/18/2034, 3 mo.
USD Term SOFR + 1.18%(1)(2)
|
999,989
|
|
|
|
ARES LXIII CLO Ltd.
|
|
|
|
650,000
|
5.59%, 10/15/2038, 3 mo. USD Term SOFR +
1.31%(1)(2)
|
650,525
|
|
|
550,000
|
5.88%, 10/15/2038, 3 mo. USD Term SOFR +
1.60%(1)(2)
|
550,061
|
|
|
|
ARES XLIII CLO Ltd.
|
|
|
|
500,000
|
5.25%, 01/15/2038, 3 mo. USD Term SOFR +
1.35%(1)(2)
|
501,605
|
|
|
450,000
|
5.85%, 01/15/2038, 3 mo. USD Term SOFR +
1.95%(1)(2)
|
449,421
|
|
|
3,750,000
|
ARES XXVII CLO Ltd. 5.01%, 10/28/2034, 3 mo.
USD Term SOFR + 1.15%(1)(2)
|
3,750,712
|
|
|
|
Bain Capital Credit CLO Ltd.
|
|
|
|
1,270,025
|
4.80%, 10/17/2032, 3 mo. USD Term SOFR +
0.92%(1)(2)
|
1,270,502
|
|
|
1,350,000
|
5.29%, 07/16/2038, 3 mo. USD Term SOFR +
1.40%(1)(2)
|
1,355,062
|
|
|
675,000
|
Ballyrock CLO 15 Ltd. 5.75%, 01/15/2038, 3 mo.
USD Term SOFR + 1.85%(1)(2)
|
674,054
|
|
|
1,000,000
|
Ballyrock CLO 16 Ltd. 5.03%, 04/20/2038, 3 mo.
USD Term SOFR + 1.15%(1)(2)
|
994,598
|
|
|
600,000
|
Ballyrock CLO 21 Ltd. 5.44%, 10/20/2037, 3 mo.
USD Term SOFR + 1.56%(1)(2)
|
600,346
|
|
|
775,000
|
Ballyrock CLO 28 Ltd. 5.73%, 01/20/2038, 3 mo.
USD Term SOFR + 1.85%(1)(2)
|
774,519
|
|
|
1,000,000
|
Ballyrock CLO Ltd. 5.34%, 10/20/2038, 3 mo.
USD Term SOFR + 1.50%(1)(2)
|
1,000,274
|
|
|
|
Barings CLO Ltd.
|
|
|
|
500,000
|
5.16%, 01/15/2038, 3 mo. USD Term SOFR +
1.26%(1)(2)
|
500,109
|
|
|
850,000
|
5.25%, 10/20/2037, 3 mo. USD Term SOFR +
1.37%(1)(2)
|
851,407
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.7% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 99.7% - (continued)
|
||
|
$ 1,000,000
|
5.25%, 01/15/2038, 3 mo. USD Term SOFR +
1.35%(1)(2)
|
$1,000,690
|
|
|
425,000
|
5.80%, 01/15/2038, 3 mo. USD Term SOFR +
1.90%(1)(2)
|
426,246
|
|
|
290,000
|
5.98%, 01/20/2037, 3 mo. USD Term SOFR +
2.10%(1)(2)
|
290,656
|
|
|
1,195,000
|
Benefit Street Partners CLO IV Ltd. 5.20%,
10/20/2038, 3 mo. USD Term SOFR +
1.25%(1)(2)
|
1,195,918
|
|
|
2,000,000
|
Benefit Street Partners CLO XV Ltd. 5.29%,
07/15/2037, 3 mo. USD Term SOFR +
1.39%(1)(2)
|
2,006,000
|
|
|
500,000
|
Benefit Street Partners CLO XXXVIII Ltd. 5.17%,
01/25/2038, 3 mo. USD Term SOFR +
1.31%(1)(2)
|
500,118
|
|
|
1,000,000
|
BlackRock DLF IX-L CLO LP 6.26%, 10/20/2033,
3 mo. USD Term SOFR + 2.38%(1)(2)
|
1,001,228
|
|
|
1,100,000
|
BlueMountain CLO Ltd. 5.91%, 11/15/2030, 3 mo.
USD Term SOFR + 1.70%(1)(2)
|
1,100,445
|
|
|
650,000
|
Carlyle Global Market Strategies CLO Ltd. 5.68%,
07/20/2034, 3 mo. USD Term SOFR +
1.80%(1)(2)
|
650,774
|
|
|
|
Carlyle U.S. CLO Ltd.
|
|
|
|
1,000,000
|
5.19%, 01/15/2038, 3 mo. USD Term SOFR +
1.29%(1)(2)
|
1,003,193
|
|
|
500,000
|
5.90%, 01/15/2040, 3 mo. USD Term SOFR +
2.00%(1)(2)
|
499,682
|
|
|
|
CIFC Funding Ltd.
|
|
|
|
250,000
|
5.07%, 04/24/2031, 3 mo. USD Term SOFR +
1.20%(1)(2)
|
249,495
|
|
|
1,000,000
|
5.20%, 04/17/2035, 3 mo. USD Term SOFR +
1.32%(1)(2)
|
1,000,278
|
|
|
1,000,000
|
5.20%, 07/15/2038, 3 mo. USD Term SOFR +
1.30%(1)(2)
|
1,002,339
|
|
|
250,000
|
5.20%, 01/15/2040, 3 mo. USD Term SOFR +
1.30%(1)(2)
|
250,498
|
|
|
300,000
|
5.32%, 07/15/2036, 3 mo. USD Term SOFR +
1.41%(1)(2)
|
300,248
|
|
|
825,000
|
5.34%, 07/16/2037, 3 mo. USD Term SOFR +
1.45%(1)(2)
|
827,442
|
|
|
1,100,000
|
5.35%, 10/15/2038, 3 mo. USD Term SOFR +
1.45%(1)(2)
|
1,102,299
|
|
|
1,000,000
|
5.42%, 04/21/2037, 3 mo. USD Term SOFR +
1.55%(1)(2)
|
1,004,340
|
|
|
1,000,000
|
5.48%, 10/20/2037, 3 mo. USD Term SOFR +
1.60%(1)(2)
|
1,002,249
|
|
|
675,000
|
5.70%, 01/15/2038, 3 mo. USD Term SOFR +
1.80%(1)(2)
|
676,673
|
|
|
250,000
|
5.76%, 07/23/2037, 3 mo. USD Term SOFR +
1.90%(1)(2)
|
249,682
|
|
|
1,000,000
|
CTM CLO Ltd. 5.83%, 07/15/2038, 3 mo. USD
Term SOFR + 1.50%(1)(2)
|
1,003,052
|
|
|
1,000,000
|
Danby Park CLO Ltd. 5.23%, 10/21/2037, 3 mo.
USD Term SOFR + 1.36%(1)(2)
|
1,001,429
|
|
|
250,000
|
Dryden 53 CLO Ltd. 5.20%, 01/15/2031, 3 mo.
USD Term SOFR + 1.30%(1)(2)
|
250,085
|
|
|
1,000,000
|
Dryden 94 CLO Ltd. 5.26%, 10/15/2037, 3 mo.
USD Term SOFR + 1.36%(1)(2)
|
1,003,764
|
|
|
750,000
|
Eaton Vance CLO Ltd. 5.24%, 10/15/2038, 3 mo.
USD Term SOFR + 1.34%(1)(2)
|
751,477
|
|
|
1,000,000
|
Elmwood CLO 14 Ltd. 5.58%, 10/20/2038, 3 mo.
USD Term SOFR + 1.30%(1)(2)
|
1,001,683
|
|
|
|
1
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.7% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 99.7% - (continued)
|
||
|
$ 1,000,000
|
Elmwood CLO 15 Ltd. 5.01%, 04/22/2035, 3 mo.
USD Term SOFR + 1.15%(1)(2)
|
$1,000,266
|
|
|
1,000,000
|
Elmwood CLO 19 Ltd. 5.15%, 10/17/2038, 3 mo.
USD Term SOFR + 1.24%(1)(2)
|
1,001,000
|
|
|
1,000,000
|
Elmwood CLO II Ltd. 5.23%, 10/20/2037, 3 mo.
USD Term SOFR + 1.35%(1)(2)
|
1,004,008
|
|
|
1,000,000
|
Elmwood CLO X Ltd. 5.18%, 07/20/2038, 3 mo.
USD Term SOFR + 1.30%(1)(2)
|
1,003,471
|
|
|
1,000,000
|
Empower CLO Ltd. 5.46%, 04/25/2037, 3 mo.
USD Term SOFR + 1.60%(1)(2)
|
1,003,191
|
|
|
550,000
|
Flatiron CLO 20 Ltd. 5.47%, 11/20/2038, 3 mo.
USD Term SOFR + 1.45%(1)(2)
|
551,160
|
|
|
440,000
|
Franklin Park Place CLO VI LLC 6.11%,
07/15/2038, 3 mo. USD Term SOFR +
2.00%(1)(2)
|
440,166
|
|
|
500,000
|
Generate CLO 8 Ltd. 5.98%, 01/20/2038, 3 mo.
USD Term SOFR + 2.10%(1)(2)
|
499,686
|
|
|
1,000,000
|
Generate CLO 9 Ltd. 5.23%, 01/20/2038, 3 mo.
USD Term SOFR + 1.35%(1)(2)
|
1,002,204
|
|
|
320,000
|
Generate CLO 10 Ltd. 5.66%, 01/22/2038, 3 mo.
USD Term SOFR + 1.80%(1)(2)
|
319,593
|
|
|
900,000
|
GoldenTree Loan Management U.S. CLO 16 Ltd.
5.00%, 01/20/2038, 3 mo. USD Term SOFR +
1.12%(1)(2)
|
897,958
|
|
|
250,000
|
GoldenTree Loan Management U.S. CLO 19 Ltd.
5.38%, 04/20/2037, 3 mo. USD Term SOFR +
1.50%(1)(2)
|
250,488
|
|
|
500,000
|
GoldenTree Loan Management U.S. CLO 24 Ltd.
5.03%, 10/20/2038, 3 mo. USD Term SOFR +
1.15%(1)(2)
|
500,123
|
|
|
1,000,000
|
GoldenTree Loan Management U.S. CLO Ltd.
5.29%, 10/20/2038, 3 mo. USD Term SOFR +
1.43%(1)(2)
|
1,000,273
|
|
|
300,000
|
Golub Capital Partners CLO 45M Ltd. 5.50%,
07/20/2037, 3 mo. USD Term SOFR +
1.62%(1)(2)
|
299,572
|
|
|
1,000,000
|
Golub Capital Partners CLO 67M Ltd. 6.73%,
05/09/2036, 3 mo. USD Term SOFR +
2.50%(1)(2)
|
1,005,329
|
|
|
825,000
|
Golub Capital Partners CLO 80M Ltd. 5.59%,
05/09/2039, 3 mo. USD Term SOFR +
1.36%(1)(2)
|
822,268
|
|
|
|
HLEND CLO LLC
|
|
|
|
1,000,000
|
5.30%, 10/22/2038, 3 mo. USD Term SOFR +
1.44%(1)(2)
|
1,000,273
|
|
|
520,000
|
5.58%, 01/20/2037, 3 mo. USD Term SOFR +
1.70%(1)(2)
|
518,882
|
|
|
450,000
|
HPS Loan Management Ltd. 5.73%, 04/20/2034,
3 mo. USD Term SOFR + 1.85%(1)(2)
|
450,662
|
|
|
2,000,000
|
Kings Park CLO Ltd. 5.26%, 01/21/2035, 3 mo.
USD Term SOFR + 1.39%(1)(2)
|
2,003,670
|
|
|
1,000,000
|
KKR CLO 24 Ltd. 5.60%, 04/20/2032, 3 mo. USD
Term SOFR + 1.71%(1)(2)
|
999,995
|
|
|
2,000,000
|
KKR CLO 52 Ltd. 5.21%, 07/16/2038, 3 mo. USD
Term SOFR + 1.32%(1)(2)
|
2,004,990
|
|
|
550,000
|
Madison Park Funding LI Ltd. 5.33%, 10/19/2038,
3 mo. USD Term SOFR + 1.45%(1)(2)
|
551,154
|
|
|
660,000
|
Madison Park Funding XIX Ltd. 5.46%,
01/22/2037, 3 mo. USD Term SOFR +
1.60%(1)(2)
|
660,931
|
|
|
675,000
|
Madison Park Funding XVII Ltd. 5.92%,
10/21/2037, 3 mo. USD Term SOFR +
2.05%(1)(2)
|
675,735
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.7% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 99.7% - (continued)
|
||
|
$ 1,000,000
|
Madison Park Funding XXXVII Ltd. 5.43%,
04/15/2037, 3 mo. USD Term SOFR +
1.53%(1)(2)
|
$1,003,263
|
|
|
1,000,000
|
Magnetite XXVIII Ltd. 5.14%, 01/15/2038, 3 mo.
USD Term SOFR + 1.24%(1)(2)
|
1,001,208
|
|
|
1,000,000
|
Neuberger Berman CLO XVI-S Ltd. 5.08%,
04/15/2039, 3 mo. USD Term SOFR +
1.18%(1)(2)
|
999,209
|
|
|
1,000,000
|
Neuberger Berman Loan Advisers CLO 31 Ltd.
5.11%, 01/20/2039, 3 mo. USD Term SOFR +
1.23%(1)(2)
|
1,000,228
|
|
|
375,000
|
Neuberger Berman Loan Advisers NBLA CLO 52
Ltd. 5.87%, 10/24/2038, 3 mo. USD Term
SOFR + 2.00%(1)(2)
|
374,765
|
|
|
500,000
|
Niagara Park CLO Ltd. 5.88%, 01/17/2038, 3 mo.
USD Term SOFR + 2.00%(1)(2)
|
499,688
|
|
|
500,000
|
Oak Hill Credit Partners X-R Ltd. 5.01%,
04/20/2038, 3 mo. USD Term SOFR +
1.13%(1)(2)
|
498,122
|
|
|
500,000
|
Oaktree CLO Ltd. 5.40%, 04/15/2038, 3 mo. USD
Term SOFR + 1.50%(1)(2)
|
502,214
|
|
|
930,000
|
Obra CLO 2 Ltd. 5.81%, 07/20/2038, 3 mo. USD
Term SOFR + 1.54%(1)(2)
|
932,851
|
|
|
|
OCP CLO Ltd.
|
|
|
|
850,000
|
5.25%, 07/20/2037, 3 mo. USD Term SOFR +
1.37%(1)(2)
|
852,014
|
|
|
995,000
|
5.25%, 10/18/2037, 3 mo. USD Term SOFR +
1.37%(1)(2)
|
996,869
|
|
|
1,000,000
|
5.45%, 07/20/2037, 3 mo. USD Term SOFR +
1.57%(1)(2)
|
1,000,552
|
|
|
500,000
|
5.87%, 11/26/2037, 3 mo. USD Term SOFR +
2.00%(1)(2)
|
499,686
|
|
|
1,000,000
|
Octagon 60 Ltd. 5.46%, 10/20/2037, 3 mo. USD
Term SOFR + 1.58%(1)(2)
|
1,001,651
|
|
|
635,000
|
Octagon 63 Ltd. 5.59%, 07/20/2037, 3 mo. USD
Term SOFR + 1.71%(1)(2)
|
636,076
|
|
|
350,000
|
Octagon 64 Ltd. 5.42%, 07/21/2037, 3 mo. USD
Term SOFR + 1.55%(1)(2)
|
349,748
|
|
|
825,000
|
Octagon 66 Ltd. 5.94%, 11/16/2036, 3 mo. USD
Term SOFR + 1.75%(1)(2)
|
825,102
|
|
|
625,000
|
OHA Credit Funding 10-R Ltd. 5.54%,
07/18/2037, 3 mo. USD Term SOFR +
1.26%(1)(2)
|
625,542
|
|
|
780,000
|
OHA Credit Funding 16-R Ltd. 5.28%,
10/20/2038, 3 mo. USD Term SOFR +
1.40%(1)(2)
|
781,477
|
|
|
1,000,000
|
OHA Credit Funding 3 Ltd. 5.20%, 01/20/2038,
3 mo. USD Term SOFR + 1.32%(1)(2)
|
1,001,697
|
|
|
1,000,000
|
OHA Credit Funding 7 Ltd. 5.16%, 07/19/2038,
3 mo. USD Term SOFR + 1.28%(1)(2)
|
1,003,250
|
|
|
750,000
|
OHA Loan Funding Ltd. 5.58%, 07/20/2037,
3 mo. USD Term SOFR + 1.70%(1)(2)
|
751,603
|
|
|
850,000
|
Palmer Square CLO Ltd. 5.43%, 07/20/2037,
3 mo. USD Term SOFR + 1.55%(1)(2)
|
851,336
|
|
|
1,000,000
|
RAD CLO 25 Ltd. 5.54%, 07/20/2037, 3 mo. USD
Term SOFR + 1.66%(1)(2)
|
1,002,650
|
|
|
1,000,000
|
RAD CLO 27 Ltd. 5.22%, 01/15/2038, 3 mo. USD
Term SOFR + 1.32%(1)(2)
|
1,002,208
|
|
|
1,000,000
|
Regatta 30 Funding Ltd. 5.18%, 01/25/2038,
3 mo. USD Term SOFR + 1.32%(1)(2)
|
1,003,030
|
|
|
500,000
|
Regatta VII Funding Ltd. 5.43%, 06/20/2034,
3 mo. USD Term SOFR + 1.45%(1)(2)
|
500,156
|
|
|
|
2
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.7% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 99.7% - (continued)
|
||
|
|
Regatta XIX Funding Ltd.
|
|
|
|
$ 250,000
|
5.12%, 10/20/2038, 3 mo. USD Term SOFR +
1.24%(1)(2)
|
$250,475
|
|
|
550,000
|
5.28%, 10/20/2038, 3 mo. USD Term SOFR +
1.40%(1)(2)
|
551,158
|
|
|
1,100,000
|
Regatta XXIV Funding Ltd. 5.20%, 01/20/2038,
3 mo. USD Term SOFR + 1.32%(1)(2)
|
1,102,440
|
|
|
825,000
|
RR 8 Ltd. 5.25%, 07/15/2037, 3 mo. USD Term
SOFR + 1.35%(1)(2)
|
826,168
|
|
|
545,000
|
RR 27 Ltd. 5.35%, 10/15/2040, 3 mo. USD Term
SOFR + 1.45%(1)(2)
|
546,139
|
|
|
500,000
|
RR 38 Ltd. 5.40%, 04/15/2040, 3 mo. USD Term
SOFR + 1.50%(1)(2)
|
500,315
|
|
|
1,500,000
|
RRX 7 Ltd. 5.26%, 07/15/2035, 3 mo. USD Term
SOFR + 1.36%(1)(2)
|
1,502,569
|
|
|
1,125,000
|
Sixth Street CLO 27 Ltd. 5.22%, 01/17/2038,
3 mo. USD Term SOFR + 1.34%(1)(2)
|
1,129,164
|
|
|
1,035,000
|
Symetra CLO Ltd. 5.17%, 04/20/2038, 3 mo. USD
Term SOFR + 1.29%(1)(2)
|
1,033,374
|
|
|
850,000
|
Symphony CLO 36 Ltd. 5.23%, 10/24/2037, 3 mo.
USD Term SOFR + 1.36%(1)(2)
|
851,720
|
|
|
500,000
|
Symphony CLO XXXIII Ltd. 5.72%, 01/24/2038,
3 mo. USD Term SOFR + 1.85%(1)(2)
|
500,270
|
|
|
1,000,000
|
Texas Debt Capital CLO Ltd. 5.18%, 07/20/2038,
3 mo. USD Term SOFR + 1.30%(1)(2)
|
999,728
|
|
|
|
Voya CLO Ltd.
|
|
|
|
560,000
|
5.27%, 10/15/2037, 3 mo. USD Term SOFR +
1.37%(1)(2)
|
560,916
|
|
|
550,000
|
5.28%, 10/20/2036, 3 mo. USD Term SOFR +
1.40%(1)(2)
|
550,647
|
|
|
1,000,000
|
5.33%, 10/20/2031, 3 mo. USD Term SOFR +
1.45%(1)(2)
|
1,000,187
|
|
|
|
Total Asset-Backed & Commercial
Mortgage-Backed Securities
(cost $106,568,274)
|
$106,537,050
|
|
|
SHORT-TERM INVESTMENTS - 0.4%
|
|||
|
|
Repurchase Agreements - 0.4%
|
||
|
450,069
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 10/31/2025 at 4.15%, due
on 11/03/2025 with a maturity value of
$450,225; collateralized by U.S. Treasury
Note at 4.63%, maturing 02/15/2035, with a
market value of $459,246
|
$450,069
|
|
|
|
Total Short-Term Investments
(cost $450,069)
|
$450,069
|
|
|
|
Total Investments
(cost $107,018,343)
|
100.1
%
|
$106,987,119
|
|
|
Other Assets and Liabilities
|
(0.1
)%
|
(111,215
)
|
|
|
Net Assets
|
100.0
%
|
$106,875,904
|
|
(1)
|
Security was purchased pursuant to Rule 144A under the Securities Act of 1933
and may be sold in transactions that are exempt from registration (typically only
to
qualified institutional buyers) or in a public offering registered under the Securities
Act of 1933. At October 31, 2025, the aggregate value of these securities was
$106,537,050, representing 99.7% of net assets.
|
|
(2)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. 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 the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
|
3
|
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Asset-Backed & Commercial Mortgage-Backed Securities
|
$106,537,050
|
$—
|
$106,537,050
|
$—
|
|
Short-Term Investments
|
450,069
|
—
|
450,069
|
—
|
|
Total
|
$106,987,119
|
$—
|
$106,987,119
|
$—
|
|
(1)
|
For the period ended October 31, 2025, there were no transfers in and out of Level
3.
|
|
|
4
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.9%
|
|||
|
|
Asset-Backed - Automobile - 0.7%
|
||
|
$ 215,000
|
Avis Budget Rental Car Funding AESOP LLC
5.23%, 12/20/2030(1)
|
$221,362
|
|
|
470,000
|
Credit Acceptance Auto Loan Trust 6.11%,
08/15/2034(1)
|
481,675
|
|
|
180,000
|
Exeter Automobile Receivables Trust 4.40%,
05/15/2030
|
180,191
|
|
|
375,000
|
GLS Auto Receivables Issuer Trust 4.98%,
07/16/2029(1)
|
378,064
|
|
|
716,000
|
GLS Auto Select Receivables Trust 4.81%,
09/15/2031(1)
|
719,391
|
|
|
190,000
|
Hertz Vehicle Financing III LLC 5.13%,
09/25/2031(1)
|
191,337
|
|
|
|
Securitized Term Auto Receivables Trust
|
|
|
|
293,568
|
4.93%, 12/29/2032(1)
|
295,494
|
|
|
71,401
|
5.04%, 07/25/2031(1)
|
71,925
|
|
|
|
|
|
2,539,439
|
|
|
Asset-Backed - Manufactured Housing - 0.0%
|
||
|
51,579
|
Cascade MH Asset Trust 1.75%, 02/25/2046(1)
|
46,394
|
|
|
|
Asset-Backed - Student Loan - 0.1%
|
||
|
|
Navient Private Education Refi Loan Trust
|
|
|
|
104,419
|
0.97%, 12/16/2069(1)
|
93,914
|
|
|
181,275
|
1.11%, 02/18/2070(1)
|
161,212
|
|
|
226,236
|
5.51%, 10/15/2071(1)
|
232,147
|
|
|
|
|
|
487,273
|
|
|
Commercial Mortgage-Backed Securities - 5.1%
|
||
|
235,000
|
245 Park Avenue Trust 3.51%, 06/05/2037(1)
|
230,324
|
|
|
195,000
|
ALA Trust 5.78%, 06/15/2040, 1 mo. USD Term
SOFR + 1.74%(1)(2)
|
195,731
|
|
|
|
BBCMS Mortgage Trust
|
|
|
|
1,824,759
|
1.01%, 05/15/2057(2)(3)
|
129,652
|
|
|
1,156,434
|
1.11%, 09/15/2057(2)(3)
|
87,024
|
|
|
1,083,841
|
1.13%, 02/15/2062(2)(3)
|
90,425
|
|
|
1,002,648
|
1.62%, 02/15/2057(2)(3)
|
94,803
|
|
|
125,000
|
3.66%, 04/15/2055(2)
|
116,525
|
|
|
|
Benchmark Mortgage Trust
|
|
|
|
2,771,182
|
0.57%, 07/15/2056(2)(3)
|
98,409
|
|
|
966,682
|
1.17%, 12/15/2056(2)(3)
|
53,099
|
|
|
552,902
|
1.50%, 01/15/2054(2)(3)
|
34,175
|
|
|
502,172
|
1.73%, 07/15/2053(2)(3)
|
25,652
|
|
|
1,682,299
|
BMO Mortgage Trust 0.86%, 07/15/2057(2)(3)
|
105,909
|
|
|
675,000
|
BOCA Commercial Mortgage Trust 5.95%,
08/15/2041, 1 mo. USD Term SOFR +
1.92%(1)(2)
|
677,109
|
|
|
310,000
|
BPR Trust 5.36%, 11/05/2041(1)(2)
|
315,503
|
|
|
165,000
|
BSTN Commercial Mortgage Trust 5.06%,
04/13/2041(1)(2)
|
166,024
|
|
|
410,000
|
BWAY Trust 6.31%, 05/05/2042(1)(2)
|
424,898
|
|
|
|
BX Trust
|
|
|
|
630,000
|
5.05%, 10/15/2036, 1 mo. USD Term SOFR +
1.01%(1)(2)
|
629,016
|
|
|
115,000
|
6.12%, 03/15/2041, 1 mo. USD Term SOFR +
2.09%(1)(2)
|
115,036
|
|
|
360,000
|
CENT Trust 4.92%, 07/10/2040(1)(2)
|
364,490
|
|
|
|
Commercial Mortgage Trust
|
|
|
|
100,000
|
2.82%, 01/10/2039(1)
|
95,982
|
|
|
110,000
|
3.38%, 01/10/2039(1)
|
103,889
|
|
|
130,000
|
5.87%, 12/10/2041(1)(2)
|
132,414
|
|
|
185,000
|
6.34%, 08/10/2044(1)
|
194,861
|
|
|
14,260
|
CSAIL Commercial Mortgage Trust 4.36%,
11/15/2051(2)
|
14,218
|
|
|
280,000
|
DBGS Mortgage Trust 4.47%, 10/15/2051
|
279,042
|
|
|
|
DBJPM Mortgage Trust
|
|
|
|
370,920
|
1.59%, 09/15/2053(2)(3)
|
16,433
|
|
|
1,952
|
3.04%, 05/10/2049
|
1,948
|
|
|
120,000
|
DC Trust 5.73%, 04/13/2040(1)(2)
|
121,458
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.9% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 5.1% - (continued)
|
||
|
$ 140,000
|
Durst Commercial Mortgage Trust 5.15%,
08/10/2042(1)(2)
|
$142,666
|
|
|
130,000
|
Extended Stay America Trust 5.45%,
10/15/2042, 1 mo. USD Term SOFR +
1.30%(1)(2)
|
130,244
|
|
|
225,000
|
FREMF Mortgage Trust 3.95%, 06/25/2049(1)(2)
|
223,314
|
|
|
565,000
|
GS Mortgage Securities Corp. II 5.31%,
03/10/2041(1)(2)
|
569,682
|
|
|
375,000
|
GS Mortgage Securities Trust 3.44%,
11/10/2049(2)
|
371,104
|
|
|
167,493
|
HIH Trust 5.87%, 10/15/2041, 1 mo. USD Term
SOFR + 1.84%(1)(2)
|
168,017
|
|
|
825,000
|
HTL Commercial Mortgage Trust 5.88%,
05/10/2039(1)(2)
|
835,799
|
|
|
505,000
|
INT Commercial Mortgage Trust 4.88%,
11/05/2037(1)(2)
|
505,545
|
|
|
485,000
|
IRV Trust 5.29%, 03/14/2047(1)(2)
|
497,636
|
|
|
1,097,000
|
JP Morgan Chase Commercial Mortgage
Securities Trust 2.82%, 08/15/2049
|
1,085,365
|
|
|
635,000
|
JPMBB Commercial Mortgage Securities Trust
3.58%, 03/17/2049
|
633,257
|
|
|
|
JPMDB Commercial Mortgage Securities Trust
|
|
|
|
5,992
|
2.95%, 06/15/2049
|
5,974
|
|
|
632,000
|
3.14%, 12/15/2049
|
620,992
|
|
|
53,443
|
3.24%, 10/15/2050
|
52,959
|
|
|
710,000
|
MAD Commercial Mortgage Trust 4.75%,
10/15/2042(1)(2)
|
709,045
|
|
|
330,000
|
MF1 Ltd. 5.75%, 02/19/2037, 1 mo. USD Term
SOFR + 1.75%(1)(2)
|
329,267
|
|
|
382,550
|
MSWF Commercial Mortgage Trust 0.91%,
12/15/2056(2)(3)
|
21,662
|
|
|
420,000
|
NRTH Commercial Mortgage Trust 5.54%,
10/15/2040, 1 mo. USD Term SOFR +
1.39%(1)(2)
|
420,131
|
|
|
110,000
|
NY Commercial Mortgage Trust 5.66%,
02/10/2047(1)(2)
|
115,602
|
|
|
|
NYC Commercial Mortgage Trust
|
|
|
|
540,000
|
4.88%, 07/13/2042(1)(2)
|
542,361
|
|
|
325,000
|
5.25%, 02/15/2042, 1 mo. USD Term SOFR +
1.21%(1)(2)
|
322,969
|
|
|
50,000
|
SG Commercial Mortgage Securities Trust
2.63%, 03/15/2037(1)
|
47,009
|
|
|
705,000
|
SHR Trust 5.98%, 10/15/2041, 1 mo. USD Term
SOFR + 1.95%(1)(2)
|
705,441
|
|
|
565,000
|
TEXAS Commercial Mortgage Trust 5.33%,
04/15/2042, 1 mo. USD Term SOFR +
1.29%(1)(2)
|
563,941
|
|
|
|
Wells Fargo Commercial Mortgage Trust
|
|
|
|
1,589,446
|
1.00%, 08/15/2057(2)(3)
|
112,923
|
|
|
719,000
|
3.43%, 03/15/2059
|
715,962
|
|
|
420,000
|
3.64%, 03/15/2050
|
409,147
|
|
|
|
Wells Fargo NA
|
|
|
|
3,935,905
|
0.63%, 11/15/2062(2)(3)
|
90,845
|
|
|
1,708,953
|
0.82%, 06/15/2057(2)(3)
|
94,934
|
|
|
893,023
|
0.93%, 02/15/2052(2)(3)
|
21,029
|
|
|
886,184
|
1.00%, 02/15/2056(2)(3)
|
51,138
|
|
|
880,923
|
1.00%, 12/15/2056(2)(3)
|
22,668
|
|
|
1,869,524
|
1.14%, 10/15/2057(2)(3)
|
150,889
|
|
|
1,433,836
|
1.30%, 11/15/2053(2)(3)
|
74,947
|
|
|
1,229,859
|
1.76%, 03/15/2063(2)(3)
|
83,837
|
|
|
145,000
|
4.41%, 11/15/2061(2)
|
145,200
|
|
|
385,000
|
WHARF Commercial Mortgage Trust 5.35%,
07/15/2040(1)(2)
|
395,470
|
|
|
275,000
|
Willowbrook Mall 5.87%, 03/05/2035(1)(2)
|
286,054
|
|
|
|
|
|
17,189,074
|
|
|
5
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.9% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 5.1%
|
||
|
|
Affirm Asset Securitization Trust
|
|
|
|
$ 28,938
|
5.22%, 12/17/2029(1)
|
$29,009
|
|
|
165,000
|
5.61%, 02/15/2029(1)
|
165,541
|
|
|
435,000
|
Affirm Master Trust 4.67%, 07/15/2033(1)
|
436,325
|
|
|
305,000
|
Aligned Data Centers Issuer LLC 6.00%,
08/17/2048(1)
|
307,944
|
|
|
205,000
|
AMSR Trust 4.15%, 11/17/2041(1)
|
202,495
|
|
|
295,000
|
Amur Equipment Finance Receivables XV LLC
5.18%, 11/20/2031(1)
|
299,650
|
|
|
220,000
|
Auxilior Term Funding LLC 5.49%, 07/15/2031(1)
|
223,881
|
|
|
400,000
|
Barings CLO Ltd. 5.98%, 01/20/2037, 3 mo.
USD Term SOFR + 2.10%(1)(2)
|
400,904
|
|
|
495,000
|
Battalion CLO 18 Ltd. 6.08%, 03/13/2037, 3 mo.
USD Term SOFR + 2.20%(1)(2)
|
495,884
|
|
|
315,000
|
Benefit Street Partners CLO XXXI Ltd. 5.61%,
04/25/2038, 3 mo. USD Term SOFR +
1.75%(1)(2)
|
315,786
|
|
|
270,000
|
Birch Grove CLO 4 Ltd. 5.70%, 07/15/2037,
3 mo. USD Term SOFR + 1.80%(1)(2)
|
270,370
|
|
|
96,056
|
Blue Owl Asset Leasing Trust LLC 5.05%,
03/15/2029(1)
|
96,255
|
|
|
|
CF Hippolyta Issuer LLC
|
|
|
|
93,586
|
1.53%, 03/15/2061(1)
|
78,058
|
|
|
125,879
|
1.69%, 07/15/2060(1)
|
107,671
|
|
|
97,030
|
5.97%, 08/15/2062(1)
|
94,922
|
|
|
118,680
|
Commercial Equipment Finance LLC 5.97%,
07/16/2029(1)
|
119,850
|
|
|
|
DB Master Finance LLC
|
|
|
|
144,375
|
2.79%, 11/20/2051(1)
|
128,651
|
|
|
690,900
|
4.35%, 05/20/2049(1)
|
683,003
|
|
|
|
Domino's Pizza Master Issuer LLC
|
|
|
|
441,515
|
2.66%, 04/25/2051(1)
|
419,228
|
|
|
432,000
|
3.67%, 10/25/2049(1)
|
416,424
|
|
|
206,800
|
4.12%, 07/25/2047(1)
|
205,090
|
|
|
295,000
|
Elmwood CLO 23 Ltd. 5.64%, 04/16/2036, 3 mo.
USD Term SOFR + 1.75%(1)(2)
|
295,472
|
|
|
|
FirstKey Homes Trust
|
|
|
|
149,853
|
4.15%, 05/19/2039(1)
|
149,197
|
|
|
564,852
|
4.25%, 07/17/2039(1)
|
563,349
|
|
|
460,000
|
Flatiron CLO 21 Ltd. 5.24%, 10/19/2037, 3 mo.
USD Term SOFR + 1.36%(1)(2)
|
460,537
|
|
|
750,000
|
Galaxy XXIV CLO Ltd. 5.44%, 04/15/2037,
3 mo. USD Term SOFR + 1.54%(1)(2)
|
751,549
|
|
|
130,000
|
GreenSky Home Improvement Issuer Trust
5.02%, 06/25/2060(1)
|
131,622
|
|
|
276,000
|
NMEF Funding LLC 4.64%, 01/18/2033(1)
|
276,599
|
|
|
|
Progress Residential Trust
|
|
|
|
395,244
|
1.51%, 10/17/2038(1)
|
387,273
|
|
|
138,201
|
3.20%, 04/17/2039(1)
|
135,715
|
|
|
388,934
|
3.40%, 02/17/2042(1)
|
372,622
|
|
|
393,313
|
4.44%, 05/17/2041(1)
|
392,945
|
|
|
101,626
|
4.45%, 06/17/2039(1)
|
101,421
|
|
|
176,417
|
4.75%, 10/27/2039(1)
|
176,980
|
|
|
495,000
|
Retained Vantage Data Centers Issuer LLC
5.00%, 09/15/2048(1)
|
495,193
|
|
|
635,000
|
RR 23 Ltd. 5.55%, 07/15/2037, 3 mo. USD Term
SOFR + 1.65%(1)(2)
|
636,772
|
|
|
140,000
|
SCF Equipment Leasing LLC 5.52%,
01/20/2032(1)
|
143,450
|
|
|
|
Stack Infrastructure Issuer LLC
|
|
|
|
285,000
|
5.90%, 07/25/2048(1)
|
286,284
|
|
|
130,000
|
5.90%, 03/25/2049(1)
|
131,928
|
|
|
75,000
|
Summit Issuer LLC 2.29%, 12/20/2050(1)
|
74,721
|
|
|
136,319
|
Sunnova Hestia II Issuer LLC 5.63%,
07/20/2051(1)
|
138,148
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.9% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 5.1% - (continued)
|
||
|
$ 261,937
|
Taco Bell Funding LLC 4.94%, 11/25/2048(1)
|
$261,408
|
|
|
|
Tricon Residential Trust
|
|
|
|
652,822
|
3.86%, 04/17/2039(1)
|
647,207
|
|
|
308,180
|
4.30%, 11/17/2041(1)
|
305,474
|
|
|
293,483
|
5.13%, 03/17/2042, 1 mo. USD Term SOFR +
1.10%(1)(2)
|
293,756
|
|
|
1,275,000
|
Vantage Data Centers LLC 5.13%, 08/15/2055(1)
|
1,282,903
|
|
|
330,000
|
VB-S1 Issuer LLC 5.59%, 05/15/2054(1)
|
332,439
|
|
|
123,995
|
VFI ABS LLC 4.78%, 06/24/2030(1)
|
124,391
|
|
|
|
Wendy's Funding LLC
|
|
|
|
196,138
|
2.37%, 06/15/2051(1)
|
182,667
|
|
|
133,727
|
3.88%, 03/15/2048(1)
|
131,800
|
|
|
158,833
|
4.08%, 06/15/2049(1)
|
155,095
|
|
|
730,462
|
4.24%, 03/15/2052(1)
|
721,785
|
|
|
111,240
|
4.54%, 03/15/2052(1)
|
108,177
|
|
|
|
Wingstop Funding LLC
|
|
|
|
531,900
|
2.84%, 12/05/2050(1)
|
514,016
|
|
|
145,000
|
5.86%, 12/05/2054(1)
|
149,546
|
|
|
380,000
|
Zayo Issuer LLC 5.65%, 03/20/2055(1)
|
386,161
|
|
|
|
|
|
17,195,543
|
|
|
Whole Loan Collateral CMO - 6.9%
|
||
|
|
Angel Oak Mortgage Trust
|
|
|
|
63,077
|
0.91%, 01/25/2066(1)(2)
|
56,286
|
|
|
220,896
|
0.95%, 07/25/2066(1)(2)
|
194,532
|
|
|
26,270
|
0.99%, 04/25/2053(1)(2)
|
24,976
|
|
|
56,704
|
0.99%, 04/25/2066(1)(2)
|
50,326
|
|
|
156,700
|
1.04%, 01/20/2065(1)(2)
|
132,579
|
|
|
110,529
|
1.07%, 05/25/2066(1)(2)
|
96,427
|
|
|
369,716
|
1.46%, 09/25/2066(1)(2)
|
315,082
|
|
|
13,122
|
1.47%, 06/25/2065(1)(2)
|
12,616
|
|
|
26,579
|
1.69%, 04/25/2065(1)(2)
|
25,346
|
|
|
166,441
|
1.82%, 11/25/2066(1)(2)
|
149,307
|
|
|
476,721
|
2.88%, 12/25/2066(1)(4)
|
448,798
|
|
|
73,878
|
3.35%, 01/25/2067(1)(2)
|
70,236
|
|
|
611,448
|
4.30%, 07/25/2067(1)(4)
|
608,136
|
|
|
14,402
|
Arroyo Mortgage Trust 3.81%, 01/25/2049(1)(2)
|
14,048
|
|
|
103,547
|
BINOM Securitization Trust 2.03%,
06/25/2056(1)(2)
|
95,300
|
|
|
|
BRAVO Residential Funding Trust
|
|
|
|
30,747
|
0.94%, 02/25/2049(1)(2)
|
28,844
|
|
|
22,795
|
0.97%, 03/25/2060(1)(2)
|
22,168
|
|
|
|
Bunker Hill Loan Depositary Trust
|
|
|
|
4,855
|
1.72%, 02/25/2055(1)(2)
|
4,827
|
|
|
9,211
|
2.88%, 07/25/2049(1)(4)
|
9,033
|
|
|
268,341
|
CIM Trust 1.43%, 07/25/2061(1)(2)
|
243,194
|
|
|
|
COLT Mortgage Loan Trust
|
|
|
|
27,368
|
0.80%, 07/27/2054(1)
|
24,745
|
|
|
89,141
|
0.91%, 06/25/2066(1)(2)
|
77,637
|
|
|
157,627
|
0.92%, 08/25/2066(1)(2)
|
133,803
|
|
|
279,397
|
0.96%, 09/27/2066(1)(2)
|
236,452
|
|
|
380,174
|
1.11%, 10/25/2066(1)(2)
|
330,000
|
|
|
25,490
|
1.33%, 10/26/2065(1)(2)
|
24,107
|
|
|
213,408
|
1.40%, 10/25/2066(1)(2)
|
184,089
|
|
|
4,770
|
1.51%, 04/27/2065(1)(2)
|
4,713
|
|
|
406,676
|
2.28%, 12/27/2066(1)(2)
|
368,074
|
|
|
69,634
|
4.30%, 03/25/2067(1)(2)
|
69,949
|
|
|
201,387
|
COLT Trust 1.39%, 01/25/2065(1)(2)
|
175,121
|
|
|
|
CSMC Trust
|
|
|
|
67,451
|
0.83%, 03/25/2056(1)(2)
|
56,710
|
|
|
150,661
|
0.94%, 05/25/2066(1)(2)
|
128,085
|
|
|
344,729
|
1.17%, 07/25/2066(1)(2)
|
296,165
|
|
|
123,952
|
1.18%, 02/25/2066(1)(2)
|
110,640
|
|
|
186,408
|
1.84%, 10/25/2066(1)(2)
|
168,060
|
|
|
118,591
|
2.00%, 01/25/2060(1)(2)
|
107,612
|
|
|
40,884
|
2.21%, 05/25/2065(1)(4)
|
39,136
|
|
|
|
6
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.9% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 6.9% - (continued)
|
||
|
$ 487,811
|
2.27%, 11/25/2066(1)(2)
|
$447,643
|
|
|
61,244
|
4.14%, 12/27/2060(1)(2)
|
61,379
|
|
|
|
Deephaven Residential Mortgage Trust
|
|
|
|
11,704
|
0.72%, 05/25/2065(1)(2)
|
11,252
|
|
|
38,705
|
0.90%, 04/25/2066(1)(2)
|
34,440
|
|
|
|
Ellington Financial Mortgage Trust
|
|
|
|
23,336
|
0.80%, 02/25/2066(1)(2)
|
20,456
|
|
|
47,053
|
0.93%, 06/25/2066(1)(2)
|
39,653
|
|
|
13,909
|
1.18%, 10/25/2065(1)(2)
|
13,155
|
|
|
260,709
|
1.24%, 09/25/2066(1)(2)
|
220,136
|
|
|
930,961
|
2.21%, 01/25/2067(1)(2)
|
821,552
|
|
|
13,485
|
Federal Home Loan Mortgage Corp. Seasoned
Credit Risk Transfer Trust 2.50%, 08/25/2059
|
12,380
|
|
|
|
Federal National Mortgage Association
Connecticut Avenue Securities Trust
|
|
|
|
94,000
|
5.98%, 02/25/2044, 30 day USD SOFR
Average + 1.80%(1)(2)
|
94,648
|
|
|
334,961
|
7.43%, 09/25/2043, 30 day USD SOFR
Average + 3.25%(1)(2)
|
346,696
|
|
|
365,000
|
7.48%, 11/25/2041, 30 day USD SOFR
Average + 3.30%(1)(2)
|
372,967
|
|
|
|
GCAT Trust
|
|
|
|
73,498
|
0.87%, 01/25/2066(1)(2)
|
62,966
|
|
|
82,259
|
1.04%, 05/25/2066(1)(2)
|
69,736
|
|
|
258,284
|
1.09%, 08/25/2066(1)(2)
|
216,714
|
|
|
367,600
|
1.26%, 07/25/2066(1)(2)
|
314,022
|
|
|
329,677
|
1.86%, 08/25/2066(1)(2)
|
301,900
|
|
|
116,436
|
1.92%, 08/25/2066(1)(2)
|
108,553
|
|
|
13,385
|
2.56%, 04/25/2065(1)(4)
|
12,891
|
|
|
4,594
|
3.25%, 01/25/2060(1)(4)
|
4,523
|
|
|
|
Imperial Fund Mortgage Trust
|
|
|
|
135,161
|
1.07%, 09/25/2056(1)(2)
|
116,608
|
|
|
441,986
|
2.09%, 01/25/2057(1)(2)
|
384,675
|
|
|
518,790
|
3.64%, 03/25/2067(1)(4)
|
495,992
|
|
|
|
Legacy Mortgage Asset Trust
|
|
|
|
67,946
|
5.65%, 11/25/2060(1)(4)
|
67,694
|
|
|
60,128
|
5.75%, 04/25/2061(1)(4)
|
59,961
|
|
|
84,428
|
5.75%, 07/25/2061(1)(4)
|
85,202
|
|
|
|
MetLife Securitization Trust
|
|
|
|
29,634
|
3.75%, 03/25/2057(1)(2)
|
28,947
|
|
|
16,226
|
3.75%, 04/25/2058(1)(2)
|
16,024
|
|
|
|
MFA Trust
|
|
|
|
10,634
|
1.01%, 01/26/2065(1)(2)
|
10,111
|
|
|
94,424
|
1.03%, 11/25/2064(1)(2)
|
83,693
|
|
|
35,771
|
1.15%, 04/25/2065(1)(2)
|
33,894
|
|
|
681,108
|
Morgan Stanley Residential Mortgage Loan
Trust 4.25%, 02/25/2065(1)(2)
|
666,083
|
|
|
|
New Residential Mortgage Loan Trust
|
|
|
|
46,993
|
0.94%, 07/25/2055(1)(2)
|
42,807
|
|
|
25,327
|
0.94%, 10/25/2058(1)(2)
|
24,937
|
|
|
265,953
|
1.16%, 11/27/2056(1)(2)
|
239,871
|
|
|
7,598
|
1.65%, 05/24/2060(1)(2)
|
7,417
|
|
|
407,141
|
2.28%, 04/25/2061(1)(2)
|
364,098
|
|
|
62,803
|
3.50%, 12/25/2057(1)(2)
|
61,034
|
|
|
10,251
|
3.75%, 03/25/2056(1)(2)
|
9,935
|
|
|
27,190
|
3.75%, 11/25/2058(1)(2)
|
26,311
|
|
|
121,381
|
4.00%, 03/25/2057(1)(2)
|
118,044
|
|
|
130,698
|
4.00%, 12/25/2057(1)(2)
|
127,902
|
|
|
782,723
|
5.00%, 06/25/2062(1)(4)
|
780,188
|
|
|
164,737
|
NMLT Trust 1.19%, 05/25/2056(1)(2)
|
142,373
|
|
|
|
OBX Trust
|
|
|
|
179,191
|
1.05%, 07/25/2061(1)(2)
|
147,834
|
|
|
115,121
|
1.07%, 02/25/2066(1)(2)
|
101,024
|
|
|
134,020
|
1.96%, 10/25/2061(1)(2)
|
115,774
|
|
|
376,719
|
2.31%, 11/25/2061(1)(2)
|
341,116
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.9% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 6.9% - (continued)
|
||
|
|
PRET LLC
|
|
|
|
$ 1,026,505
|
5.19%, 10/25/2055(1)(4)
|
$1,026,156
|
|
|
532,443
|
5.66%, 07/25/2055(1)(4)
|
533,081
|
|
|
487,440
|
5.73%, 08/25/2055(1)(4)
|
488,285
|
|
|
787,012
|
5.74%, 06/25/2055(1)(4)
|
790,154
|
|
|
302,104
|
5.84%, 09/25/2051(1)(4)
|
302,076
|
|
|
686,930
|
6.37%, 04/25/2055(1)(4)
|
691,051
|
|
|
710,000
|
PRET Trust 4.15%, 01/25/2070(1)(4)
|
690,875
|
|
|
|
PRPM LLC
|
|
|
|
901,903
|
3.00%, 05/25/2055(1)(4)
|
854,495
|
|
|
612,140
|
3.75%, 04/25/2055(1)(4)
|
596,304
|
|
|
335,891
|
5.50%, 08/25/2030(1)(4)
|
336,047
|
|
|
176,059
|
5.73%, 07/25/2030(1)(4)
|
175,979
|
|
|
91,651
|
6.26%, 05/25/2030(1)(4)
|
93,846
|
|
|
18,597
|
Residential Mortgage Loan Trust 0.86%,
01/25/2065(1)(2)
|
17,966
|
|
|
815,171
|
SG Residential Mortgage Trust 1.74%,
12/25/2061(1)(2)
|
708,072
|
|
|
66,521
|
STAR Trust 1.22%, 05/25/2065(1)(2)
|
62,554
|
|
|
|
Starwood Mortgage Residential Trust
|
|
|
|
20,939
|
0.94%, 05/25/2065(1)(2)
|
19,891
|
|
|
272,067
|
1.16%, 08/25/2056(1)(2)
|
242,532
|
|
|
7,866
|
1.49%, 04/25/2065(1)(2)
|
7,675
|
|
|
278,363
|
1.92%, 11/25/2066(1)(2)
|
246,115
|
|
|
|
Towd Point Mortgage Trust
|
|
|
|
80,114
|
1.75%, 10/25/2060(1)
|
73,189
|
|
|
55,253
|
2.75%, 10/25/2057(1)(2)
|
54,408
|
|
|
30,079
|
2.90%, 10/25/2059(1)(2)
|
28,925
|
|
|
317,421
|
2.92%, 11/30/2060(1)(2)
|
283,083
|
|
|
9,854
|
3.25%, 03/25/2058(1)(2)
|
9,750
|
|
|
123,961
|
3.75%, 03/25/2058(1)(2)
|
120,818
|
|
|
93,582
|
TRK Trust 1.15%, 07/25/2056(1)(2)
|
85,085
|
|
|
|
Verus Securitization Trust
|
|
|
|
42,810
|
0.92%, 02/25/2064(1)(2)
|
40,024
|
|
|
126,688
|
0.94%, 07/25/2066(1)(2)
|
105,633
|
|
|
507,449
|
1.01%, 09/25/2066(1)(2)
|
439,549
|
|
|
41,772
|
1.03%, 02/25/2066(1)(2)
|
38,109
|
|
|
183,209
|
1.82%, 11/25/2066(1)(2)
|
169,965
|
|
|
395,220
|
1.83%, 10/25/2066(1)(4)
|
361,997
|
|
|
289,193
|
2.72%, 01/25/2067(1)(4)
|
272,064
|
|
|
123,454
|
VOLT CIII LLC 5.99%, 08/25/2051(1)(4)
|
123,301
|
|
|
14,060
|
VOLT XCV LLC 6.24%, 03/27/2051(1)(4)
|
14,041
|
|
|
|
|
|
23,527,465
|
|
|
Total Asset-Backed & Commercial
Mortgage-Backed Securities
(cost $62,111,562)
|
$60,985,188
|
|
|
CORPORATE BONDS - 26.7%
|
|||
|
|
Aerospace & Defense - 0.7%
|
||
|
200,000
|
BAE Systems PLC 5.13%, 03/26/2029(1)
|
$205,979
|
|
|
|
Boeing Co.
|
|
|
|
115,000
|
2.95%, 02/01/2030
|
108,588
|
|
|
65,000
|
3.20%, 03/01/2029
|
62,765
|
|
|
460,000
|
5.15%, 05/01/2030
|
473,173
|
|
|
400,000
|
5.71%, 05/01/2040
|
407,870
|
|
|
160,000
|
6.39%, 05/01/2031
|
174,014
|
|
|
105,000
|
6.53%, 05/01/2034
|
116,179
|
|
|
50,000
|
7.01%, 05/01/2064
|
57,225
|
|
|
20,000
|
L3Harris Technologies, Inc. 1.80%, 01/15/2031
|
17,611
|
|
|
|
Northrop Grumman Corp.
|
|
|
|
100,000
|
4.65%, 07/15/2030
|
101,868
|
|
|
215,000
|
5.15%, 05/01/2040
|
214,882
|
|
|
|
7
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Aerospace & Defense - 0.7% - (continued)
|
||
|
|
RTX Corp.
|
|
|
|
$ 298,000
|
4.13%, 11/16/2028
|
$298,359
|
|
|
65,000
|
5.75%, 11/08/2026
|
66,050
|
|
|
|
|
|
2,304,563
|
|
|
Agriculture - 0.5%
|
||
|
|
BAT Capital Corp.
|
|
|
|
235,000
|
5.63%, 08/15/2035
|
244,121
|
|
|
95,000
|
5.83%, 02/20/2031
|
100,492
|
|
|
|
Philip Morris International, Inc.
|
|
|
|
300,000
|
4.38%, 11/01/2027
|
302,075
|
|
|
160,000
|
4.75%, 11/01/2031
|
162,792
|
|
|
290,000
|
5.13%, 02/15/2030
|
299,365
|
|
|
240,000
|
5.13%, 02/13/2031
|
248,055
|
|
|
75,000
|
5.38%, 02/15/2033
|
78,107
|
|
|
15,000
|
5.63%, 11/17/2029
|
15,738
|
|
|
140,000
|
5.63%, 09/07/2033
|
148,103
|
|
|
|
|
|
1,598,848
|
|
|
Apparel - 0.1%
|
||
|
|
Tapestry, Inc.
|
|
|
|
205,000
|
5.10%, 03/11/2030
|
209,984
|
|
|
50,000
|
5.50%, 03/11/2035
|
50,917
|
|
|
|
|
|
260,901
|
|
|
Auto Manufacturers - 0.1%
|
||
|
245,000
|
Hyundai Capital America 5.50%, 03/30/2026(1)
|
246,039
|
|
|
|
Beverages - 0.5%
|
||
|
425,000
|
Anheuser-Busch Cos. LLC/Anheuser-Busch
InBev Worldwide, Inc. 4.90%, 02/01/2046
|
399,810
|
|
|
100,000
|
Bacardi Ltd./Bacardi-Martini BV 5.40%,
06/15/2033(1)
|
100,874
|
|
|
190,000
|
Bacardi-Martini BV 6.00%, 02/01/2035(1)
|
197,702
|
|
|
|
Keurig Dr. Pepper, Inc.
|
|
|
|
231,000
|
2.25%, 03/15/2031
|
204,960
|
|
|
130,000
|
3.95%, 04/15/2029
|
128,142
|
|
|
170,000
|
4.05%, 04/15/2032
|
163,186
|
|
|
215,000
|
4.60%, 05/15/2030
|
215,654
|
|
|
90,000
|
5.20%, 03/15/2031
|
92,247
|
|
|
104,000
|
5.30%, 03/15/2034
|
105,742
|
|
|
|
|
|
1,608,317
|
|
|
Biotechnology - 0.2%
|
||
|
790,000
|
Royalty Pharma PLC 5.20%, 09/25/2035(5)
|
791,449
|
|
|
|
Chemicals - 0.1%
|
||
|
320,000
|
Nutrien Ltd. 4.90%, 03/27/2028
|
325,489
|
|
|
|
Commercial Banks - 4.4%
|
||
|
|
Bank of America Corp.
|
|
|
|
390,000
|
1.92%, 10/24/2031, (1.92% fixed rate until
10/24/2030; 6 mo. USD SOFR + 1.37%
thereafter)(2)
|
347,026
|
|
|
165,000
|
2.48%, 09/21/2036, (2.48% fixed rate until
09/21/2031; 5 yr. USD CMT + 1.20%
thereafter)(2)
|
143,776
|
|
|
250,000
|
2.59%, 04/29/2031, (2.59% fixed rate until
04/29/2030; 6 mo. USD SOFR + 2.15%
thereafter)(2)
|
232,517
|
|
|
555,000
|
2.69%, 04/22/2032, (2.69% fixed rate until
04/22/2031; 6 mo. USD SOFR + 1.32%
thereafter)(2)
|
507,187
|
|
|
234,000
|
3.97%, 02/07/2030, (3.97% fixed rate until
02/07/2029; 3 mo. USD Term SOFR +
1.47% thereafter)(2)
|
232,402
|
|
|
20,000
|
5.46%, 05/09/2036, (5.46% fixed rate until
05/09/2035; 6 mo. USD SOFR + 1.64%
thereafter)(2)
|
20,924
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Commercial Banks - 4.4% - (continued)
|
||
|
$ 195,000
|
5.52%, 10/25/2035, (5.52% fixed rate until
10/25/2034; 6 mo. USD SOFR + 1.74%
thereafter)(2)
|
$199,918
|
|
|
|
Bank of New York Mellon Corp.
|
|
|
|
195,000
|
5.06%, 07/22/2032, (5.06% fixed rate until
07/22/2031; 6 mo. USD SOFR + 1.23%
thereafter)(2)
|
201,489
|
|
|
65,000
|
5.19%, 03/14/2035, (5.19% fixed rate until
03/14/2034; 6 mo. USD SOFR + 1.42%
thereafter)(2)
|
66,958
|
|
|
210,000
|
BNP Paribas SA 5.34%, 06/12/2029, (5.34%
fixed rate until 06/12/2028; 1 yr. USD CMT +
1.50% thereafter)(1)(2)
|
215,417
|
|
|
|
BPCE SA
|
|
|
|
285,000
|
2.28%, 01/20/2032, (2.28% fixed rate until
01/20/2031; 6 mo. USD SOFR + 1.31%
thereafter)(1)(2)
|
251,403
|
|
|
255,000
|
5.39%, 05/28/2031, (5.39% fixed rate until
05/28/2030; 6 mo. USD SOFR + 1.58%
thereafter)(1)(2)
|
261,357
|
|
|
250,000
|
6.51%, 01/18/2035, (6.51% fixed rate until
01/18/2034; 6 mo. USD SOFR + 2.79%
thereafter)(1)(2)
|
266,578
|
|
|
250,000
|
CaixaBank SA 6.68%, 09/13/2027, (6.68% fixed
rate until 09/13/2026; 6 mo. USD SOFR +
2.08% thereafter)(1)(2)
|
255,064
|
|
|
|
Citigroup, Inc.
|
|
|
|
705,000
|
4.50%, 09/11/2031, (4.50% fixed rate until
09/11/2030; 6 mo. USD SOFR + 1.17%
thereafter)(2)
|
705,856
|
|
|
335,000
|
4.95%, 05/07/2031, (4.95% fixed rate until
05/07/2030; 6 mo. USD SOFR + 1.46%
thereafter)(2)
|
341,731
|
|
|
22,000
|
6.27%, 11/17/2033, (6.27% fixed rate until
11/17/2032; 6 mo. USD SOFR + 2.34%
thereafter)(2)
|
24,004
|
|
|
255,000
|
Citizens Financial Group, Inc. 5.25%,
03/05/2031, (5.25% fixed rate until
03/05/2030; 6 mo. USD SOFR + 1.26%
thereafter)(2)
|
260,893
|
|
|
|
Credit Agricole SA
|
|
|
|
365,000
|
4.82%, 09/25/2033, (4.82% fixed rate until
09/25/2032; 6 mo. USD SOFR + 1.36%
thereafter)(1)(2)
|
362,852
|
|
|
525,000
|
5.22%, 05/27/2031, (5.22% fixed rate until
05/27/2030; 6 mo. USD SOFR + 1.46%
thereafter)(1)(2)
|
538,343
|
|
|
405,000
|
5.34%, 01/10/2030, (5.34% fixed rate until
01/10/2029; 6 mo. USD SOFR + 1.69%
thereafter)(1)(2)
|
416,724
|
|
|
185,000
|
Deutsche Bank AG 5.30%, 05/09/2031, (5.30%
fixed rate until 05/09/2030; 6 mo. USD SOFR
+ 1.72% thereafter)(2)
|
189,256
|
|
|
|
Goldman Sachs Group, Inc.
|
|
|
|
25,000
|
1.99%, 01/27/2032, (1.99% fixed rate until
01/27/2031; 6 mo. USD SOFR + 1.09%
thereafter)(2)
|
22,107
|
|
|
106,000
|
2.60%, 02/07/2030
|
99,285
|
|
|
315,000
|
4.69%, 10/23/2030, (4.69% fixed rate until
10/23/2029; 6 mo. USD SOFR + 1.14%
thereafter)(2)
|
318,977
|
|
|
285,000
|
5.05%, 07/23/2030, (5.05% fixed rate until
07/23/2029; 6 mo. USD SOFR + 1.21%
thereafter)(2)
|
291,631
|
|
|
|
8
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Commercial Banks - 4.4% - (continued)
|
||
|
$ 95,000
|
5.21%, 01/28/2031, (5.21% fixed rate until
01/28/2030; 6 mo. USD SOFR + 1.08%
thereafter)(2)
|
$98,031
|
|
|
275,000
|
5.22%, 04/23/2031, (5.22% fixed rate until
04/23/2030; 6 mo. USD SOFR + 1.58%
thereafter)(2)
|
283,799
|
|
|
|
HSBC Holdings PLC
|
|
|
|
200,000
|
2.85%, 06/04/2031, (2.85% fixed rate until
06/04/2030; 6 mo. USD SOFR + 2.39%
thereafter)(2)
|
186,413
|
|
|
200,000
|
4.62%, 11/06/2031, 6 mo. USD SOFR +
1.19%(2)
|
200,221
|
|
|
425,000
|
5.13%, 03/03/2031, (5.13% fixed rate until
03/03/2030; 6 mo. USD SOFR + 1.29%
thereafter)(2)
|
434,876
|
|
|
450,000
|
5.24%, 05/13/2031, (5.24% fixed rate until
05/13/2030; 6 mo. USD SOFR + 1.57%
thereafter)(2)
|
463,029
|
|
|
|
JP Morgan Chase & Co.
|
|
|
|
249,000
|
1.95%, 02/04/2032, (1.95% fixed rate until
02/04/2031; 6 mo. USD SOFR + 1.07%
thereafter)(2)
|
220,587
|
|
|
320,000
|
2.55%, 11/08/2032, (2.55% fixed rate until
11/08/2031; 6 mo. USD SOFR + 1.18%
thereafter)(2)
|
287,646
|
|
|
20,000
|
2.58%, 04/22/2032, (2.58% fixed rate until
04/22/2031; 3 mo. USD Term SOFR +
1.25% thereafter)(2)
|
18,232
|
|
|
250,000
|
4.26%, 10/22/2031, (4.26% fixed rate until
10/22/2030; 6 mo. USD SOFR + 0.93%
thereafter)(2)
|
249,128
|
|
|
520,000
|
4.51%, 10/22/2028, (4.51% fixed rate until
10/22/2027; 6 mo. USD SOFR + 0.86%
thereafter)(2)
|
524,021
|
|
|
200,000
|
4.91%, 07/25/2033, (4.91% fixed rate until
07/25/2032; 6 mo. USD SOFR + 2.08%
thereafter)(2)
|
203,930
|
|
|
20,000
|
4.95%, 10/22/2035, (4.95% fixed rate until
10/22/2034; 6 mo. USD SOFR + 1.34%
thereafter)(2)
|
20,224
|
|
|
275,000
|
5.00%, 07/22/2030, (5.00% fixed rate until
07/22/2029; 6 mo. USD SOFR + 1.13%
thereafter)(2)
|
282,137
|
|
|
475,000
|
5.10%, 04/22/2031, (5.10% fixed rate until
04/22/2030; 6 mo. USD SOFR + 1.44%
thereafter)(2)
|
490,614
|
|
|
100,000
|
5.14%, 01/24/2031, (5.14% fixed rate until
01/24/2030; 6 mo. USD SOFR + 1.01%
thereafter)(2)
|
103,323
|
|
|
120,000
|
5.34%, 01/23/2035, (5.34% fixed rate until
01/23/2034; 6 mo. USD SOFR + 1.62%
thereafter)(2)
|
124,582
|
|
|
150,000
|
5.58%, 07/23/2036, (5.58% fixed rate until
07/23/2035; 6 mo. USD SOFR + 1.64%
thereafter)(2)
|
155,530
|
|
|
250,000
|
5.58%, 04/22/2030, (5.58% fixed rate until
04/22/2029; 6 mo. USD SOFR + 1.16%
thereafter)(2)
|
260,893
|
|
|
235,000
|
6.09%, 10/23/2029, (6.09% fixed rate until
10/23/2028; 6 mo. USD SOFR + 1.57%
thereafter)(2)
|
247,667
|
|
|
|
Morgan Stanley
|
|
|
|
22,000
|
1.79%, 02/13/2032, (1.79% fixed rate until
02/13/2031; 6 mo. USD SOFR + 1.03%
thereafter)(2)
|
19,241
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Commercial Banks - 4.4% - (continued)
|
||
|
$ 25,000
|
1.93%, 04/28/2032, (1.93% fixed rate until
04/28/2031; 6 mo. USD SOFR + 1.02%
thereafter)(2)
|
$21,878
|
|
|
332,000
|
2.70%, 01/22/2031, (2.70% fixed rate until
01/22/2030; 6 mo. USD SOFR + 1.14%
thereafter)(2)
|
310,780
|
|
|
100,000
|
3.77%, 01/24/2029, (3.77% fixed rate until
01/24/2028; 3 mo. USD Term SOFR +
1.40% thereafter)(2)
|
99,147
|
|
|
141,000
|
3.97%, 07/22/2038(2)
|
126,990
|
|
|
75,000
|
4.65%, 10/18/2030, (4.65% fixed rate until
10/18/2029; 6 mo. USD SOFR + 1.10%
thereafter)(2)
|
75,893
|
|
|
90,000
|
5.23%, 01/15/2031, (5.23% fixed rate until
01/15/2030; 6 mo. USD SOFR + 1.11%
thereafter)(2)
|
92,915
|
|
|
255,000
|
5.45%, 07/20/2029, (5.45% fixed rate until
07/20/2028; 6 mo. USD SOFR + 1.63%
thereafter)(2)
|
263,127
|
|
|
235,000
|
5.66%, 04/18/2030, (5.66% fixed rate until
04/18/2029; 6 mo. USD SOFR + 1.26%
thereafter)(2)
|
245,143
|
|
|
245,000
|
NatWest Group PLC 5.85%, 03/02/2027, (5.85%
fixed rate until 03/02/2026; 1 yr. USD CMT +
1.35% thereafter)(2)
|
246,148
|
|
|
245,000
|
Norinchukin Bank 5.43%, 03/09/2028(1)(5)
|
250,705
|
|
|
385,000
|
Royal Bank of Canada 5.15%, 02/04/2031,
(5.15% fixed rate until 02/04/2030; 6 mo.
USD SOFR + 1.03% thereafter)(2)
|
396,448
|
|
|
|
Wells Fargo & Co.
|
|
|
|
90,000
|
3.35%, 03/02/2033, (3.35% fixed rate until
03/02/2032; 6 mo. USD SOFR + 1.50%
thereafter)(2)
|
83,909
|
|
|
50,000
|
4.48%, 04/04/2031, (4.48% fixed rate until
04/04/2030; 3 mo. USD Term SOFR +
4.03% thereafter)(2)
|
50,293
|
|
|
121,000
|
5.01%, 04/04/2051, (5.01% fixed rate until
04/04/2050; 3 mo. USD Term SOFR +
4.50% thereafter)(2)
|
112,939
|
|
|
175,000
|
5.15%, 04/23/2031, (5.15% fixed rate until
04/23/2030; 6 mo. USD SOFR + 1.50%
thereafter)(2)
|
180,478
|
|
|
293,000
|
5.24%, 01/24/2031, (5.24% fixed rate until
01/24/2030; 6 mo. USD SOFR + 1.11%
thereafter)(2)
|
303,250
|
|
|
235,000
|
5.57%, 07/25/2029, (5.57% fixed rate until
07/25/2028; 6 mo. USD SOFR + 1.74%
thereafter)(2)
|
243,231
|
|
|
150,000
|
6.30%, 10/23/2029, (6.30% fixed rate until
10/23/2028; 6 mo. USD SOFR + 1.79%
thereafter)(2)
|
158,676
|
|
|
170,000
|
6.49%, 10/23/2034, (6.49% fixed rate until
10/23/2033; 6 mo. USD SOFR + 2.06%
thereafter)(2)
|
188,768
|
|
|
|
|
|
15,098,517
|
|
|
Diversified Financial Services - 1.0%
|
||
|
|
American Express Co.
|
|
|
|
495,000
|
5.02%, 04/25/2031, (5.02% fixed rate until
04/25/2030; 6 mo. USD SOFR + 1.44%
thereafter)(2)
|
509,082
|
|
|
280,000
|
5.09%, 01/30/2031, (5.09% fixed rate until
01/30/2030; 6 mo. USD SOFR + 1.02%
thereafter)(2)
|
288,534
|
|
|
360,000
|
Ameriprise Financial, Inc. 5.20%, 04/15/2035
|
368,025
|
|
|
|
9
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Diversified Financial Services - 1.0% - (continued)
|
||
|
|
Capital One Financial Corp.
|
|
|
|
$ 255,000
|
4.49%, 09/11/2031, (4.49% fixed rate until
09/11/2030; 6 mo. USD SOFR + 1.25%
thereafter)(2)
|
$253,144
|
|
|
145,000
|
6.05%, 02/01/2035, (6.05% fixed rate until
02/01/2034; 6 mo. USD SOFR + 2.26%
thereafter)(2)
|
153,751
|
|
|
255,000
|
6.18%, 01/30/2036, (6.18% fixed rate until
01/30/2035; 6 mo. USD SOFR + 2.04%
thereafter)(2)
|
265,751
|
|
|
240,000
|
7.62%, 10/30/2031, (7.62% fixed rate until
10/30/2030; 6 mo. USD SOFR + 3.07%
thereafter)(2)
|
270,675
|
|
|
420,000
|
Equitable America Global Funding 4.70%,
09/15/2032(1)
|
419,071
|
|
|
360,000
|
Intercontinental Exchange, Inc. 2.65%,
09/15/2040
|
266,655
|
|
|
|
Synchrony Financial
|
|
|
|
385,000
|
5.45%, 03/06/2031, (5.45% fixed rate until
03/06/2030; 6 mo. USD SOFR + 1.68%
thereafter)(2)
|
391,632
|
|
|
165,000
|
6.00%, 07/29/2036, (6.00% fixed rate until
07/29/2035; 6 mo. USD SOFR + 2.07%
thereafter)(2)
|
168,707
|
|
|
|
|
|
3,355,027
|
|
|
Electric - 5.3%
|
||
|
|
Alabama Power Co.
|
|
|
|
100,000
|
3.45%, 10/01/2049
|
73,315
|
|
|
117,000
|
4.15%, 08/15/2044
|
100,332
|
|
|
335,000
|
4.30%, 03/15/2031
|
335,189
|
|
|
40,000
|
5.10%, 04/02/2035
|
40,898
|
|
|
185,000
|
Arizona Public Service Co. 5.70%, 08/15/2034
|
194,532
|
|
|
120,000
|
Baltimore Gas & Electric Co. 5.45%, 06/01/2035
|
124,985
|
|
|
210,000
|
CenterPoint Energy, Inc. 5.40%, 06/01/2029
|
217,450
|
|
|
65,000
|
Cleco Corporate Holdings LLC 3.38%,
09/15/2029
|
61,077
|
|
|
|
Consolidated Edison Co. of New York, Inc.
|
|
|
|
195,000
|
3.20%, 12/01/2051
|
133,528
|
|
|
175,000
|
5.50%, 03/15/2055
|
174,665
|
|
|
110,000
|
5.70%, 05/15/2054
|
112,891
|
|
|
|
Dominion Energy, Inc.
|
|
|
|
30,000
|
4.05%, 09/15/2042
|
24,874
|
|
|
270,000
|
5.00%, 06/15/2030
|
276,970
|
|
|
|
Duke Energy Corp.
|
|
|
|
825,000
|
2.55%, 06/15/2031
|
747,692
|
|
|
70,000
|
3.50%, 06/15/2051
|
49,542
|
|
|
120,000
|
3.75%, 09/01/2046
|
92,517
|
|
|
445,000
|
4.95%, 09/15/2035
|
442,469
|
|
|
65,000
|
5.00%, 08/15/2052
|
58,709
|
|
|
|
Duke Energy Indiana LLC
|
|
|
|
45,000
|
2.75%, 04/01/2050
|
28,588
|
|
|
82,000
|
3.25%, 10/01/2049
|
57,760
|
|
|
15,000
|
6.45%, 04/01/2039
|
16,819
|
|
|
170,000
|
Duke Energy Ohio, Inc. 5.55%, 03/15/2054
|
170,865
|
|
|
|
Duke Energy Progress LLC
|
|
|
|
40,000
|
4.20%, 08/15/2045
|
34,044
|
|
|
150,000
|
5.05%, 03/15/2035
|
152,967
|
|
|
195,000
|
5.55%, 03/15/2055
|
196,675
|
|
|
|
Edison International
|
|
|
|
60,000
|
5.25%, 03/15/2032
|
59,381
|
|
|
240,000
|
6.25%, 03/15/2030
|
249,239
|
|
|
|
Eversource Energy
|
|
|
|
85,000
|
4.45%, 12/15/2030
|
84,706
|
|
|
400,000
|
5.13%, 05/15/2033
|
406,061
|
|
|
245,000
|
5.45%, 03/01/2028
|
251,255
|
|
|
211,000
|
5.50%, 01/01/2034
|
218,580
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Electric - 5.3% - (continued)
|
||
|
$ 70,000
|
FirstEnergy Corp. 3.90%, 07/15/2027(4)
|
$69,562
|
|
|
17,000
|
FirstEnergy Pennsylvania Electric Co. 5.15%,
03/30/2026(1)
|
17,029
|
|
|
250,000
|
Florida Power & Light Co. 4.63%, 05/15/2030
|
255,004
|
|
|
|
Georgia Power Co.
|
|
|
|
205,000
|
4.00%, 10/01/2028
|
204,849
|
|
|
71,000
|
4.30%, 03/15/2042
|
62,929
|
|
|
265,000
|
4.55%, 03/15/2030
|
269,612
|
|
|
240,000
|
4.65%, 05/16/2028
|
243,606
|
|
|
160,000
|
5.20%, 03/15/2035
|
164,876
|
|
|
205,000
|
Interstate Power & Light Co. 5.60%, 06/29/2035
|
213,800
|
|
|
55,000
|
Jersey Central Power & Light Co. 5.10%,
01/15/2035
|
55,779
|
|
|
15,000
|
Monongahela Power Co. 5.85%, 02/15/2034(1)
|
15,945
|
|
|
210,000
|
National Grid PLC 5.60%, 06/12/2028
|
217,329
|
|
|
514,000
|
NextEra Energy Capital Holdings, Inc. 2.25%,
06/01/2030
|
470,932
|
|
|
|
NSTAR Electric Co.
|
|
|
|
275,000
|
5.20%, 03/01/2035
|
281,294
|
|
|
75,000
|
5.40%, 06/01/2034
|
77,970
|
|
|
69,000
|
Oglethorpe Power Corp. 5.05%, 10/01/2048
|
62,981
|
|
|
|
Ohio Edison Co.
|
|
|
|
85,000
|
4.95%, 12/15/2029(1)
|
87,022
|
|
|
50,000
|
5.50%, 01/15/2033(1)
|
52,188
|
|
|
325,000
|
Ohio Power Co. 5.00%, 06/01/2033
|
330,066
|
|
|
190,000
|
Oncor Electric Delivery Co. LLC 5.35%,
04/01/2035(1)
|
197,108
|
|
|
|
Pacific Gas & Electric Co.
|
|
|
|
730,000
|
2.50%, 02/01/2031
|
653,390
|
|
|
175,000
|
3.25%, 06/01/2031
|
161,601
|
|
|
102,000
|
3.30%, 08/01/2040
|
77,459
|
|
|
85,000
|
3.50%, 08/01/2050
|
58,084
|
|
|
50,000
|
4.75%, 02/15/2044
|
42,687
|
|
|
49,000
|
4.95%, 07/01/2050
|
42,176
|
|
|
185,000
|
5.05%, 10/15/2032
|
185,325
|
|
|
405,000
|
5.80%, 05/15/2034
|
419,726
|
|
|
144,000
|
5.90%, 10/01/2054
|
140,189
|
|
|
170,000
|
6.10%, 01/15/2029
|
177,337
|
|
|
125,000
|
6.10%, 10/15/2055
|
124,907
|
|
|
114,000
|
6.15%, 01/15/2033
|
121,001
|
|
|
60,000
|
6.15%, 03/01/2055
|
60,407
|
|
|
380,000
|
6.75%, 01/15/2053
|
410,445
|
|
|
316,000
|
6.95%, 03/15/2034
|
350,678
|
|
|
|
Pinnacle West Capital Corp.
|
|
|
|
139,000
|
4.90%, 05/15/2028
|
141,136
|
|
|
180,000
|
5.15%, 05/15/2030
|
185,488
|
|
|
375,000
|
Public Service Co. of Oklahoma 5.20%,
01/15/2035
|
379,537
|
|
|
|
Public Service Enterprise Group, Inc.
|
|
|
|
25,000
|
2.45%, 11/15/2031
|
22,254
|
|
|
225,000
|
4.90%, 03/15/2030
|
229,653
|
|
|
20,000
|
5.45%, 04/01/2034
|
20,770
|
|
|
95,000
|
6.13%, 10/15/2033
|
102,540
|
|
|
|
Puget Energy, Inc.
|
|
|
|
60,000
|
4.22%, 03/15/2032
|
57,589
|
|
|
655,000
|
5.73%, 03/15/2035
|
673,690
|
|
|
235,000
|
San Diego Gas & Electric Co. 5.40%,
04/15/2035
|
243,365
|
|
|
|
Southern California Edison Co.
|
|
|
|
77,000
|
2.25%, 06/01/2030
|
69,359
|
|
|
75,000
|
2.75%, 02/01/2032
|
66,317
|
|
|
216,000
|
3.65%, 02/01/2050
|
152,347
|
|
|
40,000
|
3.90%, 03/15/2043
|
31,288
|
|
|
24,000
|
4.00%, 04/01/2047
|
18,311
|
|
|
270,000
|
4.13%, 03/01/2048
|
208,722
|
|
|
85,000
|
4.65%, 10/01/2043
|
72,972
|
|
|
100,000
|
5.15%, 06/01/2029
|
101,878
|
|
|
|
10
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Electric - 5.3% - (continued)
|
||
|
$ 70,000
|
5.20%, 06/01/2034
|
$70,057
|
|
|
205,000
|
5.45%, 03/01/2035
|
207,813
|
|
|
131,000
|
5.45%, 06/01/2052
|
120,582
|
|
|
173,000
|
5.70%, 03/01/2053
|
164,115
|
|
|
105,000
|
5.88%, 12/01/2053
|
102,201
|
|
|
140,000
|
5.90%, 03/01/2055
|
137,758
|
|
|
150,000
|
5.95%, 11/01/2032
|
158,272
|
|
|
70,000
|
6.00%, 01/15/2034
|
73,412
|
|
|
55,000
|
6.20%, 09/15/2055
|
56,132
|
|
|
|
Southern Co.
|
|
|
|
4,000
|
3.25%, 07/01/2026
|
3,976
|
|
|
63,000
|
3.70%, 04/30/2030(5)
|
61,516
|
|
|
190,000
|
4.85%, 06/15/2028
|
193,397
|
|
|
70,000
|
4.85%, 03/15/2035
|
69,309
|
|
|
335,000
|
Southern Power Co. 4.90%, 10/01/2035
|
331,441
|
|
|
110,000
|
Southwestern Electric Power Co. 5.30%,
04/01/2033
|
112,352
|
|
|
55,000
|
Trans-Allegheny Interstate Line Co. 5.00%,
01/15/2031(1)
|
56,473
|
|
|
|
Virginia Electric & Power Co.
|
|
|
|
62,000
|
2.45%, 12/15/2050
|
36,340
|
|
|
20,000
|
4.20%, 05/15/2045
|
16,842
|
|
|
425,000
|
4.90%, 09/15/2035
|
423,718
|
|
|
320,000
|
5.00%, 04/01/2033
|
326,409
|
|
|
195,000
|
5.00%, 01/15/2034
|
197,308
|
|
|
75,000
|
5.05%, 08/15/2034
|
76,106
|
|
|
190,000
|
5.15%, 03/15/2035
|
193,809
|
|
|
50,000
|
5.35%, 01/15/2054
|
48,204
|
|
|
40,000
|
5.65%, 03/15/2055
|
40,263
|
|
|
110,000
|
Wisconsin Power & Light Co. 5.38%, 03/30/2034
|
113,725
|
|
|
|
Xcel Energy, Inc.
|
|
|
|
80,000
|
4.60%, 06/01/2032
|
79,444
|
|
|
295,000
|
5.60%, 04/15/2035
|
306,064
|
|
|
|
|
|
18,118,122
|
|
|
Environmental Control - 0.1%
|
||
|
|
Republic Services, Inc.
|
|
|
|
80,000
|
1.45%, 02/15/2031
|
69,501
|
|
|
120,000
|
4.88%, 04/01/2029
|
122,940
|
|
|
225,000
|
5.20%, 11/15/2034
|
233,584
|
|
|
90,000
|
Veralto Corp. 5.50%, 09/18/2026
|
90,981
|
|
|
|
|
|
517,006
|
|
|
Food - 1.1%
|
||
|
|
JBS USA Holding Lux SARL/JBS USA Food
Co./JBS Lux Co. SARL
|
|
|
|
75,000
|
3.63%, 01/15/2032
|
70,035
|
|
|
155,000
|
5.75%, 04/01/2033
|
161,469
|
|
|
205,000
|
6.75%, 03/15/2034
|
226,167
|
|
|
85,000
|
7.25%, 11/15/2053
|
96,295
|
|
|
|
JBS USA Holding Lux SARL/JBS USA Foods
Group Holdings, Inc./JBS USA Food Co.
|
|
|
|
315,000
|
5.50%, 01/15/2036(1)
|
319,196
|
|
|
475,000
|
6.38%, 04/15/2066(1)
|
485,934
|
|
|
410,000
|
Kraft Heinz Foods Co. 5.20%, 03/15/2032
|
420,447
|
|
|
|
Mars, Inc.
|
|
|
|
50,000
|
4.60%, 03/01/2028(1)
|
50,589
|
|
|
745,000
|
5.00%, 03/01/2032(1)
|
765,580
|
|
|
235,000
|
5.20%, 03/01/2035(1)
|
241,202
|
|
|
745,000
|
5.65%, 05/01/2045(1)
|
759,296
|
|
|
100,000
|
5.80%, 05/01/2065(1)
|
102,852
|
|
|
|
|
|
3,699,062
|
|
|
Gas - 0.8%
|
||
|
105,000
|
Boston Gas Co. 3.76%, 03/16/2032(1)
|
99,737
|
|
|
185,000
|
Brooklyn Union Gas Co. 4.87%, 08/05/2032(1)
|
183,019
|
|
|
90,000
|
CenterPoint Energy Resources Corp. 1.75%,
10/01/2030
|
79,876
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Gas - 0.8% - (continued)
|
||
|
$ 55,000
|
East Ohio Gas Co. 3.00%, 06/15/2050(1)
|
$35,839
|
|
|
320,000
|
MPLX LP 5.50%, 06/01/2034
|
326,136
|
|
|
|
NiSource, Inc.
|
|
|
|
75,000
|
1.70%, 02/15/2031
|
65,236
|
|
|
147,000
|
3.49%, 05/15/2027
|
145,692
|
|
|
15,000
|
4.38%, 05/15/2047
|
12,693
|
|
|
250,000
|
5.25%, 03/30/2028
|
256,265
|
|
|
365,000
|
5.35%, 07/15/2035(5)
|
372,351
|
|
|
110,000
|
5.40%, 06/30/2033
|
114,015
|
|
|
|
Southern California Gas Co.
|
|
|
|
121,000
|
5.60%, 04/01/2054
|
121,976
|
|
|
75,000
|
5.75%, 06/01/2053
|
75,975
|
|
|
325,000
|
6.00%, 06/15/2055
|
340,876
|
|
|
275,000
|
Southern Co. Gas Capital Corp. 5.10%,
09/15/2035
|
276,607
|
|
|
|
Southwest Gas Corp.
|
|
|
|
104,000
|
2.20%, 06/15/2030
|
94,745
|
|
|
35,000
|
4.15%, 06/01/2049
|
28,413
|
|
|
|
|
|
2,629,451
|
|
|
Healthcare - Products - 0.3%
|
||
|
|
GE HealthCare Technologies, Inc.
|
|
|
|
245,000
|
5.50%, 06/15/2035
|
253,908
|
|
|
100,000
|
5.91%, 11/22/2032
|
107,625
|
|
|
655,000
|
Thermo Fisher Scientific, Inc. 4.47%,
10/07/2032
|
654,694
|
|
|
|
|
|
1,016,227
|
|
|
Healthcare - Services - 0.6%
|
||
|
|
Centene Corp.
|
|
|
|
135,000
|
2.50%, 03/01/2031
|
116,178
|
|
|
205,000
|
2.63%, 08/01/2031
|
175,870
|
|
|
265,000
|
Cigna Group 4.88%, 09/15/2032
|
267,400
|
|
|
|
Humana, Inc.
|
|
|
|
315,000
|
5.38%, 04/15/2031
|
325,350
|
|
|
220,000
|
5.55%, 05/01/2035
|
224,964
|
|
|
190,000
|
Laboratory Corp. of America Holdings 4.55%,
04/01/2032
|
189,138
|
|
|
|
UnitedHealth Group, Inc.
|
|
|
|
85,000
|
2.75%, 05/15/2040
|
63,587
|
|
|
20,000
|
3.50%, 08/15/2039
|
16,721
|
|
|
80,000
|
3.70%, 08/15/2049
|
60,258
|
|
|
87,000
|
4.75%, 07/15/2045
|
79,244
|
|
|
35,000
|
4.95%, 05/15/2062
|
30,942
|
|
|
30,000
|
5.30%, 02/15/2030
|
31,249
|
|
|
105,000
|
5.30%, 06/15/2035
|
108,686
|
|
|
270,000
|
5.38%, 04/15/2054
|
259,775
|
|
|
35,000
|
5.75%, 07/15/2064
|
34,953
|
|
|
105,000
|
5.88%, 02/15/2053
|
107,824
|
|
|
20,000
|
6.05%, 02/15/2063
|
20,958
|
|
|
|
|
|
2,113,097
|
|
|
Household Products - 0.2%
|
||
|
115,000
|
Coty, Inc./HFC Prestige Products, Inc./HFC
Prestige International U.S. LLC 5.60%,
01/15/2031(1)
|
115,387
|
|
|
|
Kenvue, Inc.
|
|
|
|
285,000
|
4.85%, 05/22/2032(5)
|
288,735
|
|
|
165,000
|
5.05%, 03/22/2053
|
151,179
|
|
|
|
|
|
555,301
|
|
|
Insurance - 0.5%
|
||
|
|
Athene Global Funding
|
|
|
|
280,000
|
2.65%, 10/04/2031(1)
|
248,463
|
|
|
40,000
|
2.72%, 01/07/2029(1)
|
37,806
|
|
|
280,000
|
4.72%, 10/08/2029(1)
|
281,080
|
|
|
330,000
|
5.68%, 02/23/2026(1)
|
331,275
|
|
|
|
Equitable Financial Life Global Funding
|
|
|
|
90,000
|
1.80%, 03/08/2028(1)
|
85,176
|
|
|
|
11
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Insurance - 0.5% - (continued)
|
||
|
$ 150,000
|
5.00%, 03/27/2030(1)
|
$153,342
|
|
|
20,000
|
Equitable Holdings, Inc. 4.35%, 04/20/2028
|
20,057
|
|
|
230,000
|
GA Global Funding Trust 4.50%, 09/18/2030(1)
|
226,879
|
|
|
200,000
|
Sammons Financial Group Global Funding
4.95%, 06/12/2030(1)
|
202,271
|
|
|
265,000
|
Travelers Cos., Inc. 5.05%, 07/24/2035
|
270,187
|
|
|
|
|
|
1,856,536
|
|
|
Internet - 0.7%
|
||
|
455,000
|
Alphabet, Inc. 5.30%, 05/15/2065
|
447,077
|
|
|
|
Meta Platforms, Inc.
|
|
|
|
375,000
|
4.60%, 05/15/2028
|
381,315
|
|
|
205,000
|
4.60%, 11/15/2032
|
206,031
|
|
|
450,000
|
5.50%, 11/15/2045
|
446,108
|
|
|
275,000
|
5.55%, 08/15/2064
|
266,280
|
|
|
520,000
|
Uber Technologies, Inc. 4.80%, 09/15/2035
|
516,067
|
|
|
|
|
|
2,262,878
|
|
|
Investment Company Security - 0.5%
|
||
|
|
Ares Strategic Income Fund
|
|
|
|
310,000
|
5.15%, 01/15/2031(1)
|
304,000
|
|
|
270,000
|
5.80%, 09/09/2030(1)
|
272,309
|
|
|
525,000
|
Bain Capital Specialty Finance, Inc. 2.55%,
10/13/2026
|
514,888
|
|
|
510,000
|
Blackstone Secured Lending Fund 5.13%,
01/31/2031
|
502,600
|
|
|
|
|
|
1,593,797
|
|
|
IT Services - 0.4%
|
||
|
320,000
|
Accenture Capital, Inc. 4.25%, 10/04/2031
|
319,434
|
|
|
250,000
|
Apple, Inc. 4.15%, 05/10/2030
|
252,544
|
|
|
360,000
|
Hewlett Packard Enterprise Co. 5.60%,
10/15/2054
|
340,270
|
|
|
300,000
|
International Business Machines Corp. 4.80%,
02/10/2030
|
307,105
|
|
|
|
|
|
1,219,353
|
|
|
Machinery-Diversified - 0.3%
|
||
|
455,000
|
John Deere Capital Corp. 4.25%, 06/05/2028
|
458,717
|
|
|
|
Westinghouse Air Brake Technologies Corp.
|
|
|
|
200,000
|
4.90%, 05/29/2030
|
204,425
|
|
|
300,000
|
5.61%, 03/11/2034
|
315,131
|
|
|
|
|
|
978,273
|
|
|
Media - 0.9%
|
||
|
|
Charter Communications Operating LLC/Charter
Communications Operating Capital
|
|
|
|
20,000
|
3.70%, 04/01/2051
|
13,073
|
|
|
41,000
|
3.85%, 04/01/2061
|
25,236
|
|
|
380,000
|
4.40%, 12/01/2061
|
257,429
|
|
|
70,000
|
5.25%, 04/01/2053
|
56,989
|
|
|
145,000
|
5.85%, 12/01/2035(5)
|
144,608
|
|
|
530,000
|
6.38%, 10/23/2035
|
549,002
|
|
|
|
Comcast Corp.
|
|
|
|
265,000
|
2.89%, 11/01/2051
|
160,589
|
|
|
379,000
|
3.20%, 07/15/2036
|
320,563
|
|
|
212,000
|
3.75%, 04/01/2040
|
176,144
|
|
|
425,000
|
4.55%, 01/15/2029
|
431,575
|
|
|
|
Cox Communications, Inc.
|
|
|
|
195,000
|
2.60%, 06/15/2031(1)
|
173,739
|
|
|
20,000
|
5.45%, 09/01/2034(1)
|
19,781
|
|
|
50,000
|
5.80%, 12/15/2053(1)
|
44,350
|
|
|
270,000
|
5.95%, 09/01/2054(1)
|
246,026
|
|
|
|
Paramount Global
|
|
|
|
5,000
|
4.20%, 05/19/2032
|
4,625
|
|
|
175,000
|
4.38%, 03/15/2043
|
132,533
|
|
|
80,000
|
4.95%, 01/15/2031
|
78,446
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Media - 0.9% - (continued)
|
||
|
$ 10,000
|
4.95%, 05/19/2050
|
$7,812
|
|
|
295,000
|
5.85%, 09/01/2043
|
265,091
|
|
|
|
|
|
3,107,611
|
|
|
Mining - 0.4%
|
||
|
|
BHP Billiton Finance USA Ltd.
|
|
|
|
100,000
|
4.90%, 02/28/2033
|
102,240
|
|
|
65,000
|
5.13%, 02/21/2032
|
67,420
|
|
|
70,000
|
5.25%, 09/08/2033
|
72,914
|
|
|
|
Glencore Funding LLC
|
|
|
|
250,000
|
5.37%, 04/04/2029(1)
|
257,770
|
|
|
90,000
|
5.63%, 04/04/2034(1)
|
93,854
|
|
|
335,000
|
6.38%, 10/06/2030(1)
|
361,311
|
|
|
40,000
|
6.50%, 10/06/2033(1)
|
44,182
|
|
|
170,000
|
Rio Tinto Alcan, Inc. 6.13%, 12/15/2033
|
186,685
|
|
|
|
Rio Tinto Finance USA PLC
|
|
|
|
65,000
|
5.00%, 03/14/2032
|
67,026
|
|
|
175,000
|
5.88%, 03/14/2065
|
183,153
|
|
|
|
|
|
1,436,555
|
|
|
Oil & Gas - 1.2%
|
||
|
|
Aker BP ASA
|
|
|
|
190,000
|
5.25%, 10/30/2035(1)
|
186,837
|
|
|
305,000
|
5.80%, 10/01/2054(1)
|
282,411
|
|
|
|
ConocoPhillips Co.
|
|
|
|
316,000
|
3.80%, 03/15/2052
|
238,591
|
|
|
118,000
|
4.03%, 03/15/2062
|
87,645
|
|
|
55,000
|
5.30%, 05/15/2053
|
52,125
|
|
|
145,000
|
5.65%, 01/15/2065
|
142,778
|
|
|
130,000
|
5.70%, 09/15/2063
|
128,566
|
|
|
|
Coterra Energy, Inc.
|
|
|
|
218,000
|
5.40%, 02/15/2035
|
219,575
|
|
|
237,000
|
5.60%, 03/15/2034
|
242,690
|
|
|
|
Diamondback Energy, Inc.
|
|
|
|
60,000
|
5.75%, 04/18/2054
|
57,819
|
|
|
70,000
|
5.90%, 04/18/2064
|
67,069
|
|
|
35,000
|
6.25%, 03/15/2053
|
35,836
|
|
|
400,000
|
Eni SpA 5.75%, 05/19/2035(1)
|
417,967
|
|
|
|
EOG Resources, Inc.
|
|
|
|
145,000
|
5.00%, 07/15/2032
|
148,112
|
|
|
310,000
|
5.35%, 01/15/2036
|
319,143
|
|
|
70,000
|
5.65%, 12/01/2054
|
69,999
|
|
|
187,000
|
Equinor ASA 3.63%, 04/06/2040
|
159,397
|
|
|
203,000
|
Hess Corp. 7.13%, 03/15/2033
|
236,174
|
|
|
165,000
|
Phillips 66 Co. 4.95%, 12/01/2027
|
167,644
|
|
|
|
TotalEnergies Capital SA
|
|
|
|
140,000
|
5.43%, 09/10/2064
|
134,146
|
|
|
215,000
|
5.64%, 04/05/2064
|
213,761
|
|
|
|
Var Energi ASA
|
|
|
|
200,000
|
5.88%, 05/22/2030(1)
|
208,116
|
|
|
215,000
|
6.50%, 05/22/2035(1)
|
227,908
|
|
|
|
|
|
4,044,309
|
|
|
Pharmaceuticals - 0.9%
|
||
|
|
Cardinal Health, Inc.
|
|
|
|
560,000
|
4.50%, 09/15/2030(5)
|
563,017
|
|
|
355,000
|
5.00%, 11/15/2029
|
364,730
|
|
|
425,000
|
Cencora, Inc. 4.85%, 12/15/2029(5)
|
434,343
|
|
|
|
CVS Health Corp.
|
|
|
|
20,000
|
1.75%, 08/21/2030
|
17,672
|
|
|
65,000
|
1.88%, 02/28/2031
|
56,735
|
|
|
190,000
|
2.13%, 09/15/2031
|
165,600
|
|
|
120,000
|
3.25%, 08/15/2029(5)
|
115,374
|
|
|
325,000
|
5.00%, 01/30/2029
|
331,753
|
|
|
55,000
|
5.05%, 03/25/2048
|
49,178
|
|
|
200,000
|
5.45%, 09/15/2035
|
204,219
|
|
|
|
Eli Lilly & Co.
|
|
|
|
500,000
|
4.55%, 10/15/2032
|
504,813
|
|
|
|
12
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Pharmaceuticals - 0.9% - (continued)
|
||
|
$ 135,000
|
5.50%, 02/12/2055
|
$137,596
|
|
|
250,000
|
Pfizer Investment Enterprises Pte. Ltd. 4.45%,
05/19/2028
|
252,614
|
|
|
|
|
|
3,197,644
|
|
|
Pipelines - 1.4%
|
||
|
405,000
|
Cheniere Energy Partners LP 5.55%,
10/30/2035(1)
|
414,458
|
|
|
|
Columbia Pipelines Holding Co. LLC
|
|
|
|
178,000
|
5.10%, 10/01/2031(1)
|
181,163
|
|
|
120,000
|
5.68%, 01/15/2034(1)
|
123,914
|
|
|
25,000
|
Columbia Pipelines Operating Co. LLC 6.04%,
11/15/2033(1)
|
26,671
|
|
|
225,000
|
DT Midstream, Inc. 5.80%, 12/15/2034(1)
|
232,429
|
|
|
|
Energy Transfer LP
|
|
|
|
25,000
|
5.15%, 03/15/2045
|
22,235
|
|
|
275,000
|
5.70%, 04/01/2035
|
283,403
|
|
|
|
Enterprise Products Operating LLC
|
|
|
|
47,000
|
3.30%, 02/15/2053
|
32,170
|
|
|
115,000
|
4.60%, 01/15/2031
|
116,421
|
|
|
10,000
|
4.90%, 05/15/2046
|
9,196
|
|
|
70,000
|
5.20%, 01/15/2036
|
71,286
|
|
|
25,000
|
6.13%, 10/15/2039
|
27,210
|
|
|
|
MPLX LP
|
|
|
|
380,000
|
4.80%, 02/15/2031
|
383,211
|
|
|
380,000
|
5.00%, 01/15/2033
|
380,057
|
|
|
105,000
|
5.40%, 09/15/2035
|
105,434
|
|
|
|
ONEOK, Inc.
|
|
|
|
310,000
|
4.75%, 10/15/2031
|
310,016
|
|
|
505,000
|
5.05%, 11/01/2034
|
497,807
|
|
|
295,000
|
5.40%, 10/15/2035
|
296,087
|
|
|
55,000
|
6.05%, 09/01/2033
|
58,277
|
|
|
15,000
|
6.10%, 11/15/2032
|
16,048
|
|
|
25,000
|
6.63%, 09/01/2053
|
26,308
|
|
|
|
Targa Resources Corp.
|
|
|
|
335,000
|
5.55%, 08/15/2035
|
342,097
|
|
|
130,000
|
5.65%, 02/15/2036
|
133,311
|
|
|
85,000
|
6.50%, 03/30/2034
|
92,785
|
|
|
295,000
|
Targa Resources Partners LP/Targa Resources
Partners Finance Corp. 4.00%, 01/15/2032
|
279,281
|
|
|
|
Whistler Pipeline LLC
|
|
|
|
105,000
|
5.70%, 09/30/2031(1)
|
108,609
|
|
|
127,000
|
5.95%, 09/30/2034(1)
|
130,410
|
|
|
|
|
|
4,700,294
|
|
|
Real Estate Investment Trusts - 0.6%
|
||
|
250,000
|
American Tower Corp. 5.25%, 07/15/2028
|
256,706
|
|
|
|
Crown Castle, Inc.
|
|
|
|
55,000
|
2.10%, 04/01/2031
|
48,224
|
|
|
415,000
|
2.25%, 01/15/2031
|
369,754
|
|
|
214,000
|
3.80%, 02/15/2028
|
211,640
|
|
|
30,000
|
4.80%, 09/01/2028
|
30,363
|
|
|
25,000
|
4.90%, 09/01/2029
|
25,359
|
|
|
|
Prologis Targeted U.S. Logistics Fund LP
|
|
|
|
110,000
|
4.25%, 01/15/2031(1)
|
109,207
|
|
|
325,000
|
4.75%, 01/15/2036(1)
|
318,161
|
|
|
|
Realty Income Corp.
|
|
|
|
455,000
|
4.50%, 02/01/2033
|
449,319
|
|
|
170,000
|
5.13%, 04/15/2035
|
172,814
|
|
|
|
|
|
1,991,547
|
|
|
Retail - 0.3%
|
||
|
|
AutoZone, Inc.
|
|
|
|
35,000
|
5.40%, 07/15/2034
|
36,175
|
|
|
90,000
|
6.55%, 11/01/2033
|
100,452
|
|
|
180,000
|
Lowe's Cos., Inc. 4.80%, 04/01/2026
|
180,355
|
|
|
|
McDonald's Corp.
|
|
|
|
235,000
|
3.63%, 09/01/2049
|
175,597
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Retail - 0.3% - (continued)
|
||
|
$ 250,000
|
5.00%, 02/13/2036
|
$251,848
|
|
|
|
O'Reilly Automotive, Inc.
|
|
|
|
89,000
|
4.70%, 06/15/2032
|
89,547
|
|
|
70,000
|
5.00%, 08/19/2034
|
70,503
|
|
|
15,000
|
5.75%, 11/20/2026
|
15,242
|
|
|
|
|
|
919,719
|
|
|
Semiconductors - 1.3%
|
||
|
305,000
|
Applied Materials, Inc. 4.60%, 01/15/2036
|
301,659
|
|
|
|
Broadcom, Inc.
|
|
|
|
155,000
|
4.15%, 02/15/2028
|
155,452
|
|
|
430,000
|
4.20%, 10/15/2030
|
429,191
|
|
|
100,000
|
5.05%, 07/12/2029
|
102,971
|
|
|
480,000
|
5.20%, 07/15/2035
|
494,441
|
|
|
|
Foundry JV Holdco LLC
|
|
|
|
710,000
|
6.15%, 01/25/2032(1)
|
756,958
|
|
|
200,000
|
6.25%, 01/25/2035(1)(5)
|
212,838
|
|
|
|
Intel Corp.
|
|
|
|
329,000
|
3.25%, 11/15/2049(5)
|
219,216
|
|
|
398,000
|
3.73%, 12/08/2047
|
292,566
|
|
|
105,000
|
4.10%, 05/11/2047
|
81,193
|
|
|
135,000
|
4.15%, 08/05/2032
|
130,396
|
|
|
70,000
|
4.75%, 03/25/2050
|
59,244
|
|
|
175,000
|
5.20%, 02/10/2033(5)
|
178,227
|
|
|
15,000
|
5.63%, 02/10/2043
|
14,802
|
|
|
175,000
|
Marvell Technology, Inc. 5.75%, 02/15/2029
|
182,732
|
|
|
240,000
|
Micron Technology, Inc. 5.65%, 11/01/2032
|
251,929
|
|
|
345,000
|
NVIDIA Corp. 3.50%, 04/01/2040
|
296,179
|
|
|
|
QUALCOMM, Inc.
|
|
|
|
290,000
|
4.75%, 05/20/2032
|
296,051
|
|
|
70,000
|
4.80%, 05/20/2045
|
65,322
|
|
|
|
|
|
4,521,367
|
|
|
Software - 0.3%
|
||
|
|
Oracle Corp.
|
|
|
|
50,000
|
2.88%, 03/25/2031
|
45,577
|
|
|
269,000
|
3.60%, 04/01/2040
|
210,662
|
|
|
117,000
|
3.80%, 11/15/2037
|
98,979
|
|
|
25,000
|
3.95%, 03/25/2051
|
17,824
|
|
|
480,000
|
4.80%, 09/26/2032
|
475,058
|
|
|
195,000
|
5.38%, 07/15/2040
|
185,816
|
|
|
115,000
|
5.50%, 09/27/2064
|
100,272
|
|
|
|
|
|
1,134,188
|
|
|
Telecommunications - 0.8%
|
||
|
570,000
|
AT&T, Inc. 1.65%, 02/01/2028
|
540,346
|
|
|
|
NTT Finance Corp.
|
|
|
|
200,000
|
4.88%, 07/16/2030(1)
|
203,784
|
|
|
860,000
|
5.17%, 07/16/2032(1)
|
883,686
|
|
|
|
T-Mobile USA, Inc.
|
|
|
|
680,000
|
2.55%, 02/15/2031
|
618,463
|
|
|
185,000
|
3.00%, 02/15/2041
|
138,483
|
|
|
65,000
|
3.88%, 04/15/2030
|
63,668
|
|
|
80,000
|
4.70%, 01/15/2035
|
78,456
|
|
|
200,000
|
4.80%, 07/15/2028(5)
|
203,304
|
|
|
30,000
|
5.13%, 05/15/2032
|
30,840
|
|
|
|
|
|
2,761,030
|
|
|
Transportation - 0.2%
|
||
|
610,000
|
CSX Corp. 5.05%, 06/15/2035
|
620,421
|
|
|
|
Trucking & Leasing - 0.0%
|
||
|
|
Penske Truck Leasing Co. LP/PTL Finance
Corp.
|
|
|
|
25,000
|
4.20%, 04/01/2027(1)
|
24,961
|
|
|
55,000
|
4.40%, 07/01/2027(1)
|
55,121
|
|
|
|
13
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 26.7% - (continued)
|
|||
|
|
Trucking & Leasing - 0.0% - (continued)
|
||
|
$ 7,000
|
5.55%, 05/01/2028(1)
|
$7,205
|
|
|
65,000
|
6.05%, 08/01/2028(1)
|
67,817
|
|
|
|
|
|
155,104
|
|
|
Total Corporate Bonds
(cost $90,333,257)
|
$90,738,042
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 1.5%
|
|||
|
|
Bermuda - 0.2%
|
||
|
|
Bermuda Government International Bonds
|
|
|
|
400,000
|
2.38%, 08/20/2030(6)
|
$361,800
|
|
|
200,000
|
5.00%, 07/15/2032(6)
|
203,400
|
|
|
|
|
|
565,200
|
|
|
Hungary - 0.1%
|
||
|
305,000
|
Hungary Government International Bonds
5.50%, 03/26/2036(1)
|
307,905
|
|
|
|
Israel - 0.2%
|
||
|
|
Israel Government International Bonds
|
|
|
|
200,000
|
2.75%, 07/03/2030
|
186,207
|
|
|
400,000
|
5.38%, 02/19/2030
|
414,477
|
|
|
|
|
|
600,684
|
|
|
Mexico - 0.7%
|
||
|
|
Mexico Government International Bonds
|
|
|
|
1,365,000
|
5.38%, 03/22/2033
|
1,363,908
|
|
|
265,000
|
6.00%, 05/07/2036
|
271,175
|
|
|
425,000
|
6.63%, 01/29/2038
|
448,800
|
|
|
225,000
|
6.88%, 05/13/2037
|
243,731
|
|
|
|
|
|
2,327,614
|
|
|
Panama - 0.0%
|
||
|
200,000
|
Panama Government International Bonds
2.25%, 09/29/2032
|
164,020
|
|
|
|
Romania - 0.3%
|
||
|
|
Romania Government International Bonds
|
|
|
|
470,000
|
3.63%, 03/27/2032(6)
|
423,375
|
|
|
274,000
|
5.75%, 03/24/2035(1)
|
268,001
|
|
|
258,000
|
5.88%, 01/30/2029(1)
|
265,505
|
|
|
100,000
|
6.38%, 01/30/2034(1)
|
102,738
|
|
|
90,000
|
7.50%, 02/10/2037(1)
|
98,630
|
|
|
|
|
|
1,158,249
|
|
|
Total Foreign Government Obligations
(cost $4,993,852)
|
|
$5,123,672
|
|
MUNICIPAL BONDS - 0.1%
|
|||
|
|
Development - 0.1%
|
||
|
245,000
|
New York Transportation Dev Corp., NY, Rev
4.25%, 09/01/2035
|
$241,631
|
|
|
|
Total Municipal Bonds
(cost $250,270)
|
|
$241,631
|
|
U.S. GOVERNMENT AGENCIES - 31.6%
|
|||
|
|
Mortgage-Backed Agencies - 31.6%
|
||
|
|
Federal Home Loan Mortgage Corp. - 4.8%
|
||
|
224,947
|
0.87%, 11/25/2030(2)(3)
|
$8,129
|
|
|
94,690
|
1.11%, 01/25/2030(2)(3)
|
3,705
|
|
|
1,394,966
|
1.11%, 06/25/2030(2)(3)
|
60,582
|
|
|
2,733
|
1.13%, 12/15/2027
|
2,669
|
|
|
3,377
|
1.25%, 12/15/2027
|
3,295
|
|
|
1,517,224
|
1.37%, 06/25/2030(2)(3)
|
78,566
|
|
|
1,080,491
|
1.43%, 05/25/2030(2)(3)
|
58,268
|
|
|
389,256
|
1.50%, 12/25/2050
|
319,917
|
|
|
1,208,234
|
1.56%, 05/25/2030(2)(3)
|
71,898
|
|
|
162,704
|
1.64%, 04/25/2030(2)(3)
|
9,591
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 31.6% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 31.6% - (continued)
|
||
|
|
Federal Home Loan Mortgage Corp. - 4.8% - (continued)
|
||
|
$ 352,408
|
2.00%, 07/25/2050
|
$310,244
|
|
|
194,530
|
2.00%, 10/01/2051
|
159,518
|
|
|
1,999,236
|
2.00%, 12/01/2051
|
1,632,089
|
|
|
3,006,741
|
2.00%, 01/01/2052
|
2,455,155
|
|
|
15,634
|
2.50%, 12/15/2042
|
14,409
|
|
|
898,594
|
2.50%, 09/01/2051
|
763,292
|
|
|
1,423,025
|
4.50%, 08/01/2052
|
1,387,264
|
|
|
1,661,263
|
5.00%, 11/01/2052
|
1,666,654
|
|
|
3,941,039
|
5.50%, 05/01/2054
|
3,986,849
|
|
|
88,080
|
6.03%, 11/25/2043, 30 day USD SOFR
Average + 1.85%(1)(2)
|
88,934
|
|
|
640,000
|
7.08%, 04/25/2042, 30 day USD SOFR
Average + 2.90%(1)(2)
|
664,583
|
|
|
270,000
|
7.53%, 05/25/2042, 30 day USD SOFR
Average + 3.35%(1)(2)
|
279,856
|
|
|
400,000
|
7.58%, 10/25/2041, 30 day USD SOFR
Average + 3.40%(1)(2)
|
408,493
|
|
|
380,000
|
7.73%, 08/25/2042, 30 day USD SOFR
Average + 3.55%(1)(2)
|
397,340
|
|
|
165,000
|
8.18%, 07/25/2042, 30 day USD SOFR
Average + 4.00%(1)(2)
|
173,347
|
|
|
700,000
|
8.68%, 06/25/2042, 30 day USD SOFR
Average + 4.50%(1)(2)
|
738,941
|
|
|
540,000
|
9.18%, 03/25/2052, 30 day USD SOFR
Average + 5.00%(1)(2)
|
579,150
|
|
|
|
|
|
16,322,738
|
|
|
Federal National Mortgage Association - 6.2%
|
||
|
14,340
|
1.25%, 02/25/2028
|
13,993
|
|
|
2,903
|
1.50%, 09/25/2027
|
2,847
|
|
|
125,820
|
2.00%, 10/01/2051
|
102,565
|
|
|
449,780
|
2.00%, 11/01/2051
|
364,922
|
|
|
5,054,332
|
2.00%, 04/01/2052
|
4,116,818
|
|
|
849,316
|
2.50%, 02/01/2052
|
721,416
|
|
|
1,115,323
|
2.50%, 05/01/2052
|
948,090
|
|
|
887,997
|
2.50%, 06/01/2052
|
756,845
|
|
|
839,004
|
2.50%, 07/01/2052
|
714,737
|
|
|
720,564
|
2.50%, 08/01/2052
|
613,985
|
|
|
282,000
|
3.00%, 12/25/2045
|
257,309
|
|
|
302,379
|
3.00%, 10/25/2046
|
276,347
|
|
|
313,000
|
3.00%, 03/25/2047
|
278,581
|
|
|
163,609
|
3.00%, 03/01/2050
|
146,451
|
|
|
1,659,863
|
3.00%, 11/01/2051
|
1,478,572
|
|
|
423,379
|
3.50%, 08/01/2043
|
402,032
|
|
|
735,000
|
4.50%, 12/25/2041
|
730,835
|
|
|
2,623,596
|
4.50%, 12/01/2052
|
2,569,040
|
|
|
2,087,820
|
5.50%, 06/01/2053
|
2,117,389
|
|
|
4,309,040
|
5.50%, 04/01/2054
|
4,359,128
|
|
|
|
|
|
20,971,902
|
|
|
Government National Mortgage Association - 6.1%
|
||
|
1,954,414
|
2.00%, 12/20/2050
|
1,626,182
|
|
|
2,250,000
|
2.00%, 11/20/2055(7)
|
1,870,940
|
|
|
1,775,847
|
2.50%, 03/20/2051
|
1,538,188
|
|
|
1,086,885
|
2.50%, 07/20/2051
|
941,180
|
|
|
2,640,962
|
2.50%, 09/20/2051
|
2,286,912
|
|
|
1,660,222
|
3.00%, 04/20/2051
|
1,494,459
|
|
|
359,759
|
3.00%, 05/20/2051
|
323,664
|
|
|
1,808,720
|
3.00%, 10/20/2051
|
1,626,696
|
|
|
2,723,240
|
3.50%, 08/20/2052
|
2,502,214
|
|
|
1,650,000
|
4.00%, 11/20/2055(7)
|
1,560,294
|
|
|
4,103,981
|
5.00%, 09/20/2054
|
4,095,266
|
|
|
1,100,000
|
5.00%, 11/20/2054(7)
|
1,096,528
|
|
|
|
|
|
20,962,523
|
|
|
Uniform Mortgage-Backed Security - 14.5%
|
||
|
1,200,000
|
1.50%, 11/01/2040(7)
|
1,074,823
|
|
|
|
14
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 31.6% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 31.6% - (continued)
|
||
|
|
Uniform Mortgage-Backed Security - 14.5% - (continued)
|
||
|
$ 300,000
|
1.50%, 11/01/2055(7)
|
$231,599
|
|
|
1,300,000
|
2.50%, 11/01/2040(7)
|
1,222,682
|
|
|
4,263,000
|
2.50%, 12/01/2055(7)
|
3,619,051
|
|
|
750,000
|
3.00%, 11/01/2040(7)
|
718,585
|
|
|
2,850,000
|
3.50%, 11/01/2055(7)
|
2,627,304
|
|
|
3,450,000
|
4.00%, 11/01/2055(7)
|
3,273,041
|
|
|
10,320,000
|
5.50%, 11/01/2054(7)
|
10,426,261
|
|
|
10,320,000
|
5.50%, 12/01/2054(7)
|
10,419,005
|
|
|
7,650,000
|
6.00%, 11/01/2054(7)
|
7,822,561
|
|
|
7,650,000
|
6.00%, 12/01/2054(7)
|
7,821,067
|
|
|
|
|
|
49,255,979
|
|
|
Total U.S. Government Agencies
(cost $108,350,423)
|
|
$107,513,142
|
|
U.S. GOVERNMENT SECURITIES - 36.9%
|
|||
|
|
U.S. Treasury Securities - 36.9%
|
||
|
|
U.S. Treasury Bonds - 9.7%
|
||
|
1,010,000
|
1.38%, 08/15/2050
|
$514,745
|
|
|
2,455,000
|
1.63%, 11/15/2050
|
1,334,714
|
|
|
630,000
|
2.00%, 02/15/2050
|
381,101
|
|
|
1,248,000
|
2.38%, 11/15/2049
|
825,679
|
|
|
1,105,000
|
2.50%, 02/15/2045
|
800,219
|
|
|
1,935,000
|
2.88%, 05/15/2052
|
1,395,392
|
|
|
7,170,000
|
3.00%, 02/15/2047
|
5,534,904
|
|
|
1,525,000
|
3.00%, 02/15/2048
|
1,163,944
|
|
|
6,105,000
|
3.00%, 08/15/2052
|
4,512,215
|
|
|
1,080,000
|
3.13%, 05/15/2048
|
841,514
|
|
|
385,000
|
3.38%, 11/15/2048
|
312,316
|
|
|
1,825,000
|
3.63%, 08/15/2043
|
1,604,859
|
|
|
1,840,000
|
3.63%, 02/15/2044
|
1,611,006
|
|
|
1,464,000
|
3.75%, 11/15/2043
|
1,307,764
|
|
|
600,000
|
4.13%, 08/15/2044
|
561,586
|
|
|
1,305,000
|
4.50%, 02/15/2044
|
1,286,445
|
|
|
3,570,000
|
4.50%, 11/15/2054
|
3,471,964
|
|
|
1,225,000
|
4.88%, 08/15/2045
|
1,261,750
|
|
|
3,955,000
|
5.00%, 05/15/2045
|
4,139,155
|
|
|
|
|
|
32,861,272
|
|
|
U.S. Treasury Inflation-Indexed Bonds - 1.6%
|
||
|
781,213
|
0.25%, 02/15/2050(8)
|
468,572
|
|
|
42,270
|
0.63%, 02/15/2043(8)
|
32,371
|
|
|
3,017,812
|
0.75%, 02/15/2042(8)
|
2,408,737
|
|
|
949,219
|
0.75%, 02/15/2045(8)
|
715,401
|
|
|
423,826
|
1.00%, 02/15/2046(8)
|
330,340
|
|
|
1,577,616
|
1.38%, 02/15/2044(8)
|
1,360,742
|
|
|
|
|
|
5,316,163
|
|
|
U.S. Treasury Inflation-Indexed Notes - 0.6%
|
||
|
1,654,560
|
1.75%, 01/15/2034(8)
|
1,660,754
|
|
|
378,326
|
1.88%, 07/15/2035(8)
|
381,434
|
|
|
|
|
|
2,042,188
|
|
|
U.S. Treasury Notes - 25.0%
|
||
|
8,143,000
|
0.38%, 09/30/2027
|
7,663,008
|
|
|
3,335,000
|
1.88%, 02/28/2029
|
3,153,529
|
|
|
4,565,000
|
2.75%, 08/15/2032
|
4,259,359
|
|
|
10,735,000
|
2.88%, 05/15/2028(9)(10)
|
10,549,234
|
|
|
1,835,000
|
2.88%, 05/15/2032
|
1,731,208
|
|
|
8,608,000
|
3.50%, 09/30/2026
|
8,588,094
|
|
|
9,025,000
|
3.75%, 05/15/2028
|
9,058,139
|
|
|
1,600,000
|
3.75%, 05/31/2030
|
1,603,625
|
|
|
4,235,000
|
3.75%, 12/31/2030
|
4,238,970
|
|
|
3,555,000
|
4.00%, 05/31/2030
|
3,601,243
|
|
|
2,800,000
|
4.00%, 07/31/2032
|
2,820,234
|
|
|
950,000
|
4.13%, 11/30/2029
|
966,254
|
|
|
2,740,000
|
4.25%, 01/31/2030
|
2,800,901
|
|
|
7,490,000
|
4.25%, 11/15/2034
|
7,603,520
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT SECURITIES - 36.9% - (continued)
|
|||
|
|
U.S. Treasury Securities - 36.9% - (continued)
|
||
|
|
U.S. Treasury Notes - 25.0% - (continued)
|
||
|
$ 5,000,000
|
4.38%, 01/31/2032
|
$5,148,828
|
|
|
5,136,000
|
4.38%, 05/15/2034
|
5,271,422
|
|
|
5,380,000
|
4.50%, 03/31/2026
|
5,394,480
|
|
|
645,000
|
4.50%, 11/15/2033
|
668,684
|
|
|
|
|
|
85,120,732
|
|
|
Total U.S. Government Securities
(cost $132,951,678)
|
|
$125,340,355
|
|
|
Total Long-Term Investments
(cost $398,991,042)
|
|
$389,942,030
|
|
SHORT-TERM INVESTMENTS - 1.3%
|
|||
|
|
Repurchase Agreements - 0.2%
|
||
|
671,013
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 10/31/2025 at 4.15%,
due on 11/03/2025 with a maturity value of
$671,245; collateralized by U.S. Treasury
Note at 4.63%, maturing 02/15/2035, with
a market value of $684,616
|
$671,013
|
|
|
|
Securities Lending Collateral - 1.1%
|
||
|
3,712,070
|
State Street Navigator Securities Lending
Government Money Market Portfolio,
4.00%(11)
|
3,712,070
|
|
|
|
Total Short-Term Investments
(cost $4,383,083)
|
$4,383,083
|
|
|
|
Total Investments
(cost $403,374,125)
|
116.0
%
|
$394,325,113
|
|
|
Other Assets and Liabilities
|
(16.0
)%
|
(54,321,852
)
|
|
|
Net Assets
|
100.0
%
|
$340,003,261
|
|
(1)
|
Security was purchased pursuant to Rule 144A under the Securities Act of 1933
and may be sold in transactions that are exempt from registration (typically only
to
qualified institutional buyers) or in a public offering registered under the Securities
Act of 1933. At October 31, 2025, the aggregate value of these securities was
$75,390,643, representing 22.2% of net assets.
|
|
(2)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. 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 the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(3)
|
Securities disclosed are interest-only strips.
|
|
(4)
|
Security is a “step-up” bond where coupon increases or steps up at a
predetermined date. Rate shown is current coupon rate.
|
|
|
15
|
|
|
(5)
|
Represents entire or partial securities on loan.
|
|
(6)
|
Security is exempt from registration under Regulation S under the Securities Act of
1933, which exempts from registration securities offered and sold outside of the
United States. Security may not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933. At October 31, 2025, the aggregate
value of these securities was $988,575, representing 0.3% of net assets.
|
|
(7)
|
Represents or includes a TBA transaction.
|
|
(8)
|
The principal amount for these securities are adjusted for inflation and the interest
payments equal a fixed percentage of the inflation-adjusted principal amount.
|
|
(9)
|
All, or a portion of the security, was pledged as collateral in connection with
centrally cleared swap contracts. As of October 31, 2025, the market value of
securities pledged was $707,541.
|
|
(10)
|
All, or a portion of the security, was pledged as collateral in connection with
futures contracts. As of October 31, 2025, the market value of securities pledged
was $378,338.
|
|
(11)
|
Current yield as of period end.
|
|
Futures Contracts Outstanding at October 31, 2025
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Long position contracts:
|
||||
|
U.S. Treasury 2-Year Note Future
|
10
|
12/31/2025
|
$2,082,422
|
$(4,669
)
|
|
U.S. Treasury 5-Year Note Future
|
67
|
12/31/2025
|
7,317,133
|
(15,750
)
|
|
U.S. Treasury Long Bond Future
|
27
|
12/19/2025
|
3,167,437
|
10,710
|
|
U.S. Treasury Ultra Bond Future
|
40
|
12/19/2025
|
4,851,250
|
172,451
|
|
Total
|
|
|
|
$162,742
|
|
Short position contracts:
|
||||
|
U.S. Treasury 10-Year Note Future
|
(99)
|
12/19/2025
|
$(11,154,516
)
|
$(4,656
)
|
|
U.S. Treasury 10-Year Ultra Future
|
(25)
|
12/19/2025
|
(2,887,109
)
|
29,480
|
|
Total
|
|
|
|
$24,824
|
|
Total futures contracts
|
$187,566
|
|||
|
Centrally Cleared Interest Rate Swap Contracts Outstanding at October 31, 2025
|
|||||||||
|
Payments made
by Fund
|
Payments received
by Fund
|
Notional
Amount
|
Expiration
Date
|
Periodic
Payment
Frequency
|
Upfront
Premiums
Paid
|
Upfront
Premiums
Received
|
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
4.16% Fixed
|
12 Mo. USD SOFR
|
USD
|
4,060,000
|
03/19/2045
|
Annual
|
$—
|
$(7,538
)
|
$(95,963
)
|
$(88,425
)
|
|
2.97% Fixed
|
12 Mo. USD SOFR
|
USD
|
1,330,000
|
03/15/2053
|
Annual
|
2,851
|
—
|
235,684
|
232,833
|
|
2.88% Fixed
|
12 Mo. USD SOFR
|
USD
|
380,000
|
03/15/2053
|
Annual
|
4,069
|
—
|
73,610
|
69,541
|
|
3.25% Fixed
|
12 Mo. USD SOFR
|
USD
|
495,000
|
06/21/2053
|
Annual
|
—
|
(4,967
)
|
62,305
|
67,272
|
|
3.59% Fixed
|
12 Mo. USD SOFR
|
USD
|
570,000
|
09/20/2053
|
Annual
|
2,277
|
—
|
37,206
|
34,929
|
|
Total centrally cleared interest rate swaps contracts
|
$9,197
|
$(12,505
)
|
$312,842
|
$316,150
|
|||||
|
|
16
|
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Asset-Backed & Commercial Mortgage-Backed Securities
|
$60,985,188
|
$—
|
$60,985,188
|
$—
|
|
Corporate Bonds
|
90,738,042
|
—
|
90,738,042
|
—
|
|
Foreign Government Obligations
|
5,123,672
|
—
|
5,123,672
|
—
|
|
Municipal Bonds
|
241,631
|
—
|
241,631
|
—
|
|
U.S. Government Agencies
|
107,513,142
|
—
|
107,513,142
|
—
|
|
U.S. Government Securities
|
125,340,355
|
—
|
125,340,355
|
—
|
|
Short-Term Investments
|
4,383,083
|
3,712,070
|
671,013
|
—
|
|
Futures Contracts(2)
|
212,641
|
212,641
|
—
|
—
|
|
Swaps - Interest Rate(2)
|
404,575
|
—
|
404,575
|
—
|
|
Total
|
$394,942,329
|
$3,924,711
|
$391,017,618
|
$—
|
|
Liabilities
|
|
|
|
|
|
Futures Contracts(2)
|
$(25,075
)
|
$(25,075
)
|
$—
|
$—
|
|
Swaps - Interest Rate(2)
|
(88,425
)
|
—
|
(88,425
)
|
—
|
|
Total
|
$(113,500
)
|
$(25,075
)
|
$(88,425
)
|
$—
|
|
(1)
|
For the period ended October 31, 2025, there were no transfers in and out of Level
3.
|
|
(2)
|
Derivative instruments (excluding purchased and written options, if applicable) are
valued at the unrealized appreciation/(depreciation) on the investments.
|
|
|
17
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 30.9%
|
|||
|
|
Auto Manufacturers - 0.3%
|
||
|
$ 125,000
|
Ford Motor Co. 4.75%, 01/15/2043
|
$100,592
|
|
|
|
Beverages - 0.2%
|
||
|
145,000
|
Keurig Dr. Pepper, Inc. 3.35%, 03/15/2051
|
98,247
|
|
|
|
Biotechnology - 0.2%
|
||
|
100,000
|
Royalty Pharma PLC 4.45%, 03/25/2031
|
99,339
|
|
|
|
Chemicals - 0.5%
|
||
|
200,000
|
Inversion Escrow Issuer LLC 6.75%, 08/01/2032(1)
|
195,282
|
|
|
|
Commercial Banks - 0.7%
|
||
|
95,000
|
Citigroup, Inc. 6.88%, 08/15/2030, 5 yr. USD CMT
+ 2.89%(2)(3)
|
97,886
|
|
|
200,000
|
HSBC Holdings PLC 4.62%, 11/06/2031, 6 mo.
USD SOFR + 1.19%(3)
|
200,221
|
|
|
|
|
|
298,107
|
|
|
Commercial Services - 0.5%
|
||
|
200,000
|
Allied Universal Holdco LLC/Allied Universal
Finance Corp./Atlas Luxco 4 SARL 4.63%,
06/01/2028(1)
|
195,748
|
|
|
|
Diversified Financial Services - 1.0%
|
||
|
100,000
|
Bread Financial Holdings, Inc. 6.75%,
05/15/2031(1)
|
100,684
|
|
|
105,000
|
goeasy Ltd. 6.88%, 02/15/2031(1)
|
102,610
|
|
|
110,000
|
OneMain Finance Corp. 4.00%, 09/15/2030
|
102,299
|
|
|
95,000
|
Synchrony Financial 6.00%, 07/29/2036, (6.00%
fixed rate until 07/29/2035; 6 mo. USD SOFR +
2.07% thereafter)(3)
|
97,134
|
|
|
|
|
|
402,727
|
|
|
Electric - 5.7%
|
||
|
|
American Electric Power Co., Inc.
|
|
|
|
200,000
|
5.80%, 03/15/2056, (5.80% fixed rate until
12/15/2030; 5 yr. USD CMT + 2.13%
thereafter)(3)
|
200,361
|
|
|
60,000
|
6.05%, 03/15/2056, (6.05% fixed rate until
12/15/2035; 5 yr. USD CMT + 1.94%
thereafter)(3)
|
60,762
|
|
|
65,000
|
Cleco Corporate Holdings LLC 3.38%, 09/15/2029
|
61,078
|
|
|
125,000
|
Dayton Power & Light Co. 4.55%, 08/15/2030(1)
|
124,405
|
|
|
215,000
|
Dominion Energy, Inc. 6.20%, 02/15/2056, (6.20%
fixed rate until 11/15/2035; 5 yr. USD CMT +
2.01% thereafter)(3)
|
217,417
|
|
|
211,000
|
EUSHI Finance, Inc. 6.25%, 04/01/2056, (6.25%
fixed rate until 01/01/2031; 5 yr. USD CMT +
2.51% thereafter)(3)
|
210,061
|
|
|
100,000
|
FirstEnergy Transmission LLC 2.87%,
09/15/2028(1)
|
96,511
|
|
|
|
Pacific Gas & Electric Co.
|
|
|
|
445,000
|
2.50%, 02/01/2031
|
398,299
|
|
|
275,000
|
3.50%, 08/01/2050
|
187,919
|
|
|
175,000
|
4.55%, 07/01/2030
|
173,888
|
|
|
95,000
|
Puget Energy, Inc. 4.10%, 06/15/2030
|
93,025
|
|
|
125,000
|
Sempra 6.38%, 04/01/2056, (6.38% fixed rate until
01/01/2031; 5 yr. USD CMT + 2.63%
thereafter)(3)(4)
|
128,439
|
|
|
|
Southern California Edison Co.
|
|
|
|
225,000
|
2.75%, 02/01/2032
|
198,952
|
|
|
14,000
|
3.65%, 02/01/2050
|
9,874
|
|
|
65,000
|
3.65%, 06/01/2051
|
45,377
|
|
|
61,000
|
4.00%, 04/01/2047
|
46,540
|
|
|
|
|
|
2,252,908
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 30.9% - (continued)
|
|||
|
|
Entertainment - 0.4%
|
||
|
|
Warnermedia Holdings, Inc.
|
|
|
|
$ 110,000
|
4.28%, 03/15/2032
|
$100,753
|
|
|
65,000
|
5.05%, 03/15/2042
|
52,178
|
|
|
|
|
|
152,931
|
|
|
Food - 0.5%
|
||
|
200,000
|
Conagra Brands, Inc. 5.00%, 08/01/2030
|
202,701
|
|
|
|
Forest Products & Paper - 0.3%
|
||
|
140,000
|
Suzano Austria GmbH 3.75%, 01/15/2031
|
132,505
|
|
|
|
Gas - 0.4%
|
||
|
100,000
|
AltaGas Ltd. 7.20%, 10/15/2054, (7.20% fixed rate
until 07/17/2034; 5 yr. USD CMT + 3.57%
thereafter)(1)(3)
|
102,514
|
|
|
50,000
|
MPLX LP 4.95%, 03/14/2052
|
42,648
|
|
|
|
|
|
145,162
|
|
|
Healthcare - Services - 0.4%
|
||
|
65,000
|
Acadia Healthcare Co., Inc. 5.00%, 04/15/2029(1)
|
63,605
|
|
|
92,000
|
Centene Corp. 2.50%, 03/01/2031
|
79,173
|
|
|
|
|
|
142,778
|
|
|
Insurance - 2.5%
|
||
|
200,000
|
American National Group, Inc. 7.00%, 12/01/2055,
(7.00% fixed rate until 12/01/2030; 5 yr. USD
CMT + 3.18% thereafter)(3)
|
204,250
|
|
|
|
Athene Holding Ltd.
|
|
|
|
180,000
|
6.63%, 05/19/2055
|
188,432
|
|
|
195,000
|
6.88%, 06/28/2055, (6.88% fixed rate until
03/28/2035; 5 yr. USD CMT + 2.58%
thereafter)(3)
|
195,737
|
|
|
190,000
|
Fortitude Group Holdings LLC 6.25%,
04/01/2030(1)
|
197,310
|
|
|
95,000
|
Global Atlantic Fin Co. 4.40%, 10/15/2029(1)
|
93,419
|
|
|
12,000
|
Liberty Mutual Group, Inc. 4.30%, 02/01/2061(1)
|
7,702
|
|
|
100,000
|
RGA Global Funding 5.00%, 08/25/2032(1)
|
100,660
|
|
|
|
|
|
987,510
|
|
|
Internet - 0.6%
|
||
|
220,000
|
Meta Platforms, Inc. 4.20%, 11/15/2030
|
219,771
|
|
|
|
Investment Company Security - 0.7%
|
||
|
200,000
|
Ares Strategic Income Fund 4.85%, 01/15/2029(1)
|
197,028
|
|
|
100,000
|
HPS Corporate Lending Fund 4.90%,
09/11/2028(1)
|
99,270
|
|
|
|
|
|
296,298
|
|
|
IT Services - 0.0%
|
||
|
15,000
|
Seagate Data Storage Technology Pte. Ltd.
4.09%, 06/01/2029(1)
|
14,592
|
|
|
|
Media - 3.7%
|
||
|
|
Charter Communications Operating LLC/Charter
Communications Operating Capital
|
|
|
|
95,000
|
3.70%, 04/01/2051
|
62,098
|
|
|
270,000
|
3.90%, 06/01/2052
|
177,194
|
|
|
421,000
|
3.95%, 06/30/2062
|
260,689
|
|
|
114,000
|
4.40%, 12/01/2061
|
77,229
|
|
|
|
Cox Communications, Inc.
|
|
|
|
160,000
|
2.95%, 10/01/2050(1)
|
92,556
|
|
|
105,000
|
5.80%, 12/15/2053(1)
|
93,135
|
|
|
50,000
|
Gray Media, Inc. 7.25%, 08/15/2033(1)
|
48,953
|
|
|
|
Paramount Global
|
|
|
|
105,000
|
4.20%, 05/19/2032
|
97,129
|
|
|
125,000
|
4.38%, 03/15/2043
|
94,666
|
|
|
105,000
|
Univision Communications, Inc. 4.50%,
05/01/2029(1)
|
98,686
|
|
|
405,000
|
Ziggo BV 4.88%, 01/15/2030(1)
|
382,259
|
|
|
|
|
|
1,484,594
|
|
|
18
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 30.9% - (continued)
|
|||
|
|
Mining - 0.6%
|
||
|
$ 56,000
|
Fortescue Treasury Pty. Ltd. 4.38%, 04/01/2031(1)
|
$54,201
|
|
|
|
Glencore Funding LLC
|
|
|
|
100,000
|
2.50%, 09/01/2030(1)
|
91,467
|
|
|
100,000
|
2.63%, 09/23/2031(1)
|
89,829
|
|
|
|
|
|
235,497
|
|
|
Miscellaneous Manufacturing - 0.5%
|
||
|
195,000
|
Entegris, Inc. 4.75%, 04/15/2029(1)
|
193,794
|
|
|
|
Oil & Gas - 2.1%
|
||
|
150,000
|
APA Corp. 5.35%, 07/01/2049
|
124,564
|
|
|
120,000
|
Continental Resources, Inc. 4.90%, 06/01/2044
|
96,980
|
|
|
|
Hilcorp Energy I LP/Hilcorp Finance Co.
|
|
|
|
30,000
|
6.00%, 02/01/2031(1)
|
28,405
|
|
|
75,000
|
6.88%, 05/15/2034(1)
|
71,250
|
|
|
|
Phillips 66 Co.
|
|
|
|
100,000
|
5.88%, 03/15/2056, (5.88% fixed rate until
12/15/2030; 5 yr. USD CMT + 2.28%
thereafter)(3)
|
99,403
|
|
|
200,000
|
6.20%, 03/15/2056, (6.20% fixed rate until
12/15/2035; 5 yr. USD CMT + 2.17%
thereafter)(3)
|
201,986
|
|
|
100,000
|
SM Energy Co. 7.00%, 08/01/2032(1)
|
97,827
|
|
|
100,000
|
Viper Energy Partners LLC 4.90%, 08/01/2030
|
100,699
|
|
|
|
|
|
821,114
|
|
|
Packaging & Containers - 0.2%
|
||
|
105,000
|
OI European Group BV 4.75%, 02/15/2030(1)
|
98,977
|
|
|
|
Pharmaceuticals - 0.5%
|
||
|
225,000
|
Viatris, Inc. 2.70%, 06/22/2030
|
203,540
|
|
|
|
Pipelines - 3.3%
|
||
|
130,000
|
Columbia Pipelines Holding Co. LLC 5.10%,
10/01/2031(1)
|
132,310
|
|
|
50,000
|
Enbridge, Inc. 7.20%, 06/27/2054, (7.20% fixed
rate until 03/27/2034; 5 yr. USD CMT + 2.97%
thereafter)(3)
|
53,401
|
|
|
|
Energy Transfer LP
|
|
|
|
100,000
|
5.40%, 10/01/2047
|
90,447
|
|
|
200,000
|
6.50%, 02/15/2056, (6.50% fixed rate until
11/15/2030; 5 yr. USD CMT + 2.68%
thereafter)(3)
|
198,188
|
|
|
200,000
|
6.75%, 02/15/2056, (6.75% fixed rate until
11/15/2035; 5 yr. USD CMT + 2.48%
thereafter)(3)
|
200,620
|
|
|
|
MPLX LP
|
|
|
|
70,000
|
4.70%, 04/15/2048
|
58,606
|
|
|
75,000
|
5.20%, 03/01/2047
|
67,411
|
|
|
100,000
|
Plains All American Pipeline LP/PAA Finance
Corp. 4.70%, 01/15/2031
|
100,219
|
|
|
100,000
|
TransCanada PipeLines Ltd. 7.00%, 06/01/2065,
(7.00% fixed rate until 03/01/2030; 5 yr. USD
CMT + 2.61% thereafter)(3)
|
103,057
|
|
|
|
Venture Global Calcasieu Pass LLC
|
|
|
|
90,000
|
3.88%, 08/15/2029(1)
|
85,256
|
|
|
25,000
|
4.13%, 08/15/2031(1)
|
23,113
|
|
|
95,000
|
6.25%, 01/15/2030(1)
|
96,914
|
|
|
95,000
|
Whistler Pipeline LLC 5.40%, 09/30/2029(1)
|
97,364
|
|
|
|
|
|
1,306,906
|
|
|
Real Estate Investment Trusts - 1.0%
|
||
|
165,000
|
Brandywine Operating Partnership LP 6.13%,
01/15/2031
|
165,722
|
|
|
150,000
|
CubeSmart LP 5.13%, 11/01/2035
|
149,404
|
|
|
100,000
|
GLP Capital LP/GLP Financing II, Inc. 5.75%,
11/01/2037
|
99,266
|
|
|
|
|
|
414,392
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 30.9% - (continued)
|
|||
|
|
Retail - 0.6%
|
||
|
$ 250,000
|
PetSmart LLC/PetSmart Finance Corp. 7.50%,
09/15/2032(1)
|
$249,362
|
|
|
|
Semiconductors - 0.3%
|
||
|
110,000
|
Qorvo, Inc. 3.38%, 04/01/2031(1)
|
101,432
|
|
|
|
Software - 1.1%
|
||
|
105,000
|
Open Text Holdings, Inc. 4.13%, 12/01/2031(1)
|
97,755
|
|
|
500,000
|
Oracle Corp. 4.10%, 03/25/2061
|
344,501
|
|
|
|
|
|
442,256
|
|
|
Telecommunications - 1.1%
|
||
|
100,000
|
Bell Telephone Co. of Canada or Bell Canada
7.00%, 09/15/2055, (7.00% fixed rate until
06/15/2035; 5 yr. USD CMT + 2.36%
thereafter)(3)
|
105,104
|
|
|
100,000
|
TELUS Corp. 7.00%, 10/15/2055, (7.00% fixed
rate until 07/15/2035; 5 yr. USD CMT + 2.71%
thereafter)(3)
|
106,670
|
|
|
200,000
|
Vmed O2 U.K. Financing I PLC 4.75%,
07/15/2031(1)
|
185,099
|
|
|
58,000
|
WULF Compute LLC 7.75%, 10/15/2030(1)
|
60,255
|
|
|
|
|
|
457,128
|
|
|
Transportation - 0.5%
|
||
|
|
FedEx Corp.
|
|
|
|
110,000
|
4.55%, 04/01/2046
|
92,377
|
|
|
105,000
|
4.75%, 11/15/2045
|
90,867
|
|
|
|
|
|
183,244
|
|
|
Water - 0.5%
|
||
|
200,000
|
Aegea Finance SARL 7.63%, 01/20/2036(1)
|
194,991
|
|
|
|
Total Corporate Bonds
(cost $12,401,386)
|
$12,324,425
|
|
|
U.S. GOVERNMENT SECURITIES - 62.7%
|
|||
|
|
U.S. Treasury Securities - 62.7%
|
||
|
|
U.S. Treasury Bonds - 2.7%
|
||
|
475,000
|
4.75%, 08/15/2055
|
$481,457
|
|
|
570,000
|
4.88%, 08/15/2045
|
587,100
|
|
|
|
|
|
1,068,557
|
|
|
U.S. Treasury Notes - 60.0%
|
||
|
5,675,000
|
3.50%, 09/30/2027
|
5,664,138
|
|
|
5,595,000
|
3.63%, 08/15/2028
|
5,598,934
|
|
|
190,000
|
3.63%, 09/30/2030
|
189,287
|
|
|
1,060,000
|
3.75%, 12/31/2030
|
1,060,994
|
|
|
1,590,000
|
3.88%, 04/30/2030
|
1,602,236
|
|
|
2,445,000
|
3.88%, 06/30/2030
|
2,463,624
|
|
|
4,145,000
|
4.13%, 11/30/2029
|
4,215,918
|
|
|
2,710,000
|
4.13%, 05/31/2032
|
2,750,862
|
|
|
350,000
|
4.25%, 08/15/2035
|
354,375
|
|
|
|
|
|
23,900,368
|
|
|
Total U.S. Government Securities
(cost $24,999,886)
|
|
$24,968,925
|
|
|
Total Long-Term Investments
(cost $37,401,272)
|
|
$37,293,350
|
|
SHORT-TERM INVESTMENTS - 5.1%
|
|||
|
|
Securities Lending Collateral - 0.3%
|
||
|
132,500
|
State Street Navigator Securities Lending
Government Money Market Portfolio,
4.00%(5)
|
$132,500
|
|
|
|
19
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SHORT-TERM INVESTMENTS - 5.1% - (continued)
|
|||
|
|
U.S. Treasury Securities - 4.8%
|
||
|
|
U.S. Treasury Bills - 4.8%
|
||
|
$ 1,895,000
|
3.81%, 12/09/2025(6)
|
$1,887,284
|
|
|
|
Total Short-Term Investments
(cost $2,019,784)
|
$2,019,784
|
|
|
|
Total Investments
(cost $39,421,056)
|
98.7
%
|
$39,313,134
|
|
|
Other Assets and Liabilities
|
1.3
%
|
537,413
|
|
|
Net Assets
|
100.0
%
|
$39,850,547
|
|
(1)
|
Security was purchased pursuant to Rule 144A under the Securities Act of 1933
and may be sold in transactions that are exempt from registration (typically only
to
qualified institutional buyers) or in a public offering registered under the Securities
Act of 1933. At October 31, 2025, the aggregate value of these securities was
$4,456,530, representing 11.2% of net assets.
|
|
(2)
|
Perpetual maturity security. Maturity date shown is the next call date or final legal
maturity date, whichever comes first.
|
|
(3)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. 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 the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(4)
|
Represents entire or partial securities on loan.
|
|
(5)
|
Current yield as of period end.
|
|
(6)
|
The rate shown represents current yield to maturity.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Corporate Bonds
|
$12,324,425
|
$—
|
$12,324,425
|
$—
|
|
U.S. Government Securities
|
24,968,925
|
—
|
24,968,925
|
—
|
|
Short-Term Investments
|
2,019,784
|
132,500
|
1,887,284
|
—
|
|
Total
|
$39,313,134
|
$132,500
|
$39,180,634
|
$—
|
|
(1)
|
For the period ended October 31, 2025, there were no transfers in and out of Level
3.
|
|
|
20
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 96.9%
|
|||
|
|
Automobiles & Components - 3.9%
|
||
|
15,999
|
Tesla, Inc.*
|
$7,304,503
|
|
|
|
Capital Goods - 2.2%
|
||
|
3,796
|
GE Vernova, Inc.
|
2,221,191
|
|
|
6,381
|
RTX Corp.
|
1,139,009
|
|
|
3,684
|
Vertiv Holdings Co. Class A
|
710,496
|
|
|
|
|
|
4,070,696
|
|
|
Consumer Discretionary Distribution & Retail - 6.6%
|
||
|
35,009
|
Amazon.com, Inc.*
|
8,549,898
|
|
|
26,872
|
Chewy, Inc. Class A*
|
906,124
|
|
|
5,264
|
Dick's Sporting Goods, Inc.
|
1,165,713
|
|
|
4,268
|
Home Depot, Inc.
|
1,620,090
|
|
|
|
|
|
12,241,825
|
|
|
Consumer Durables & Apparel - 0.5%
|
||
|
26,435
|
On Holding AG Class A*
|
982,060
|
|
|
|
Consumer Services - 1.8%
|
||
|
52,677
|
DraftKings, Inc. Class A*
|
1,611,389
|
|
|
6,786
|
Marriott International, Inc. Class A
|
1,768,296
|
|
|
|
|
|
3,379,685
|
|
|
Energy - 0.5%
|
||
|
5,613
|
Targa Resources Corp.
|
864,627
|
|
|
|
Financial Services - 2.1%
|
||
|
2,762
|
Evercore, Inc. Class A
|
813,575
|
|
|
15,063
|
KKR & Co., Inc.
|
1,782,405
|
|
|
11,621
|
Tradeweb Markets, Inc. Class A
|
1,224,737
|
|
|
|
|
|
3,820,717
|
|
|
Food, Beverage & Tobacco - 0.2%
|
||
|
5,397
|
Monster Beverage Corp.*
|
360,681
|
|
|
|
Media & Entertainment - 16.6%
|
||
|
49,511
|
Alphabet, Inc. Class A
|
13,921,998
|
|
|
22,962
|
Liberty Media Corp.-Liberty Formula One Class C*
|
2,292,756
|
|
|
8,812
|
Meta Platforms, Inc. Class A
|
5,713,260
|
|
|
5,012
|
Netflix, Inc.*
|
5,607,726
|
|
|
4,367
|
Reddit, Inc. Class A*
|
912,485
|
|
|
3,959
|
ROBLOX Corp. Class A*
|
450,217
|
|
|
2,890
|
Spotify Technology SA*
|
1,893,875
|
|
|
|
|
|
30,792,317
|
|
|
Pharmaceuticals, Biotechnology & Life Sciences - 6.2%
|
||
|
11,804
|
AbbVie, Inc.
|
2,573,744
|
|
|
5,513
|
Eli Lilly & Co.
|
4,756,947
|
|
|
26,091
|
Exact Sciences Corp.*
|
1,687,827
|
|
|
11,963
|
Natera, Inc.*
|
2,379,800
|
|
|
|
|
|
11,398,318
|
|
|
Real Estate Management & Development - 0.7%
|
||
|
18,015
|
Zillow Group, Inc. Class C*
|
1,350,765
|
|
|
|
Semiconductors & Semiconductor Equipment - 23.7%
|
||
|
13,923
|
ARM Holdings PLC ADR*(1)
|
2,364,404
|
|
|
34,284
|
Broadcom, Inc.
|
12,672,395
|
|
|
141,749
|
NVIDIA Corp.
|
28,702,755
|
|
|
|
|
|
43,739,554
|
|
|
Software & Services - 16.2%
|
||
|
2,653
|
AppLovin Corp. Class A*
|
1,690,836
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 96.9% - (continued)
|
|||
|
|
Software & Services - 16.2% - (continued)
|
||
|
4,494
|
Crowdstrike Holdings, Inc. Class A*
|
$2,440,287
|
|
|
28,865
|
Microsoft Corp.
|
14,946,586
|
|
|
17
|
Navan, Inc. Class A*
|
345
|
|
|
15,908
|
Oracle Corp.
|
4,177,600
|
|
|
12,526
|
Palantir Technologies, Inc. Class A*
|
2,511,087
|
|
|
2,449
|
ServiceNow, Inc.*
|
2,251,317
|
|
|
10,740
|
Shopify, Inc. Class A*
|
1,867,256
|
|
|
|
|
|
29,885,314
|
|
|
Technology Hardware & Equipment - 15.1%
|
||
|
70,721
|
Apple, Inc.
|
19,120,837
|
|
|
22,969
|
Arista Networks, Inc.*
|
3,621,981
|
|
|
4,692
|
Celestica, Inc.*
|
1,616,300
|
|
|
17,196
|
Corning, Inc.
|
1,531,820
|
|
|
27,623
|
Flex Ltd.*
|
1,726,990
|
|
|
4,381
|
Trimble, Inc.*
|
349,385
|
|
|
|
|
|
27,967,313
|
|
|
Transportation - 0.6%
|
||
|
7,385
|
CH Robinson Worldwide, Inc.
|
1,137,216
|
|
|
|
Total Common Stocks
(cost $121,877,842)
|
|
$179,295,591
|
|
SHORT-TERM INVESTMENTS - 0.1%
|
|||
|
|
Repurchase Agreements - 0.1%
|
||
|
$ 174,495
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 10/31/2025 at 4.15%, due
on 11/03/2025 with a maturity value of
$174,555; collateralized by U.S. Treasury Note
at 4.63%, maturing 02/15/2035, with a market
value of $178,179
|
$174,495
|
|
|
|
Total Short-Term Investments
(cost $174,495)
|
$174,495
|
|
|
|
Total Investments
(cost $122,052,337)
|
97.0
%
|
$179,470,086
|
|
|
Other Assets and Liabilities
|
3.0
%
|
5,477,017
|
|
|
Net Assets
|
100.0
%
|
$184,947,103
|
|
*
|
Non-income producing.
|
|
(1)
|
Represents entire or partial securities on loan.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
|
21
|
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Common Stocks
|
$179,295,591
|
$179,295,591
|
$—
|
$—
|
|
Short-Term Investments
|
174,495
|
—
|
174,495
|
—
|
|
Total
|
$179,470,086
|
$179,295,591
|
$174,495
|
$—
|
|
(1)
|
For the period ended October 31, 2025, there were no transfers in and out of Level
3.
|
|
|
22
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5%
|
|||
|
|
Alabama - 4.1%
|
||
|
$ 1,980,000
|
Alabama Housing Finance Auth, AL, Rev,
(FHLMC), (FNMA), (GNMA) 6.00%,
04/01/2055
|
$2,171,863
|
|
|
|
Black Belt Energy Gas Dist, AL, Rev
|
|
|
|
1,200,000
|
5.00%, 10/01/2055(1)
|
1,302,950
|
|
|
1,155,000
|
5.00%, 12/01/2055(1)
|
1,252,919
|
|
|
2,000,000
|
5.25%, 12/01/2027
|
2,069,375
|
|
|
1,825,000
|
5.25%, 02/01/2053(1)
|
1,945,619
|
|
|
330,000
|
5.25%, 12/01/2053(1)
|
358,290
|
|
|
2,335,000
|
Energy Southeast A Cooperative Dist, AL, Rev
5.50%, 11/01/2053(1)
|
2,575,995
|
|
|
100,000
|
Jefferson County Board of Education, AL,
Special Tax 5.00%, 02/01/2042
|
101,880
|
|
|
2,000,000
|
Lower Alabama Gas Dist, AL, Rev 5.00%,
09/01/2028
|
2,081,151
|
|
|
2,600,000
|
Southeast Alabama Gas Supply Dist, AL, Rev
5.00%, 08/01/2054(1)
|
2,805,156
|
|
|
|
Southeast Energy Auth A Cooperative Dist, AL,
Rev
|
|
|
|
1,295,000
|
5.00%, 09/01/2035
|
1,434,604
|
|
|
4,000,000
|
5.00%, 05/01/2055(1)
|
4,305,577
|
|
|
1,855,000
|
5.25%, 03/01/2055(1)
|
1,997,883
|
|
|
415,000
|
5.50%, 01/01/2053(1)
|
449,759
|
|
|
|
|
|
24,853,021
|
|
|
Alaska - 1.1%
|
||
|
3,150,000
|
CIVICVentures, AK, Rev 5.00%, 09/01/2038
|
3,456,263
|
|
|
1,225,000
|
Northern Tobacco Securitization Corp., AK, Rev
4.00%, 06/01/2039
|
1,164,195
|
|
|
|
State of Alaska International Airports System,
AK, Rev
|
|
|
|
530,000
|
5.00%, 10/01/2032
|
607,244
|
|
|
1,215,000
|
5.00%, 10/01/2034
|
1,396,061
|
|
|
|
|
|
6,623,763
|
|
|
Arizona - 0.9%
|
||
|
|
Arizona Industrial Dev Auth, AZ, Rev,
|
|
|
|
665,000
|
(FHLMC), (FNMA), (GNMA) 4.05%,
10/01/2031
|
692,239
|
|
|
270,000
|
(FHLMC), (FNMA), (GNMA) 4.15%,
10/01/2032
|
282,936
|
|
|
280,000
|
(FHLMC), (FNMA), (GNMA) 4.25%,
10/01/2033
|
295,014
|
|
|
500,000
|
City of Phoenix Civic Improvement Corp., AZ,
Rev 5.00%, 07/01/2037
|
514,328
|
|
|
|
Maricopa County Industrial Dev Auth, AZ, Rev
|
|
|
|
230,000
|
4.00%, 10/15/2047(2)
|
195,724
|
|
|
195,000
|
5.00%, 09/01/2031
|
206,431
|
|
|
|
Tempe Industrial Dev Auth, AZ, Rev
|
|
|
|
880,000
|
3.50%, 12/01/2030
|
875,502
|
|
|
1,190,000
|
4.38%, 12/01/2036
|
1,189,849
|
|
|
1,000,000
|
5.38%, 12/01/2046
|
1,003,030
|
|
|
|
|
|
5,255,053
|
|
|
California - 7.2%
|
||
|
795,000
|
Bay Area Toll Auth, CA, Rev 3.52%, 04/01/2056,
SIFMA Municipal Swap Index + 0.30%(1)
|
779,961
|
|
|
|
California Community Choice Financing Auth,
CA, Rev
|
|
|
|
6,000,000
|
5.00%, 11/01/2033(3)
|
6,560,307
|
|
|
755,000
|
5.00%, 12/01/2053(1)
|
804,670
|
|
|
2,000,000
|
5.00%, 05/01/2054(1)
|
2,178,412
|
|
|
1,665,000
|
5.00%, 12/01/2055(1)
|
1,783,684
|
|
|
2,115,000
|
5.00%, 01/01/2056(1)
|
2,358,855
|
|
|
4,000,000
|
5.00%, 10/01/2056(1)
|
4,404,795
|
|
|
3,375,000
|
5.50%, 05/01/2054(1)
|
3,595,460
|
|
|
205,000
|
California Enterprise Dev Auth, CA, Rev 5.00%,
08/01/2045
|
208,861
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
California - 7.2% - (continued)
|
||
|
$ 1,000,000
|
California Health Facs Financing Auth, CA, Rev
5.00%, 12/01/2032
|
$1,104,667
|
|
|
|
California Municipal Finance Auth, CA, Rev,
|
|
|
|
180,000
|
(BAM) 4.00%, 05/15/2034
|
186,983
|
|
|
600,000
|
(BAM) 4.00%, 05/15/2037
|
614,011
|
|
|
2,250,000
|
5.00%, 06/30/2027
|
2,301,782
|
|
|
|
City of Fontana, CA, Special Tax
|
|
|
|
500,000
|
4.00%, 09/01/2041
|
487,898
|
|
|
450,000
|
4.00%, 09/01/2046
|
419,172
|
|
|
525,000
|
4.00%, 09/01/2051
|
471,737
|
|
|
2,235,000
|
Foothill-Eastern Transportation Corridor Agency,
CA, Rev 5.80%, 01/15/2026(1)(4)
|
2,247,419
|
|
|
150,000
|
Fresno Unified School Dist, CA, GO 0.00%,
08/01/2032(5)
|
115,938
|
|
|
5,670,000
|
Golden State Tobacco Securitization Corp., CA,
Rev 0.00%, 06/01/2066(5)
|
600,519
|
|
|
520,000
|
Los Angeles County Public Works Financing
Auth, CA, Rev 5.25%, 12/01/2054
|
564,785
|
|
|
1,000,000
|
Los Angeles Department of Water & Power, CA,
Rev, (BAM) 5.25%, 07/01/2045
|
1,087,891
|
|
|
595,000
|
Regents of the University of California Medical
Center Pooled, CA, Rev 5.00%, 05/15/2036
|
670,805
|
|
|
100,000
|
Romoland School Dist, CA, Special Tax 5.00%,
09/01/2043
|
101,717
|
|
|
885,000
|
San Bernardino Community College Dist, CA, GO
0.00%, 08/01/2046(5)
|
315,764
|
|
|
|
San Diego County Regional Airport Auth, CA,
Rev
|
|
|
|
1,300,000
|
5.00%, 07/01/2035
|
1,495,555
|
|
|
1,300,000
|
5.00%, 07/01/2036
|
1,481,846
|
|
|
475,000
|
5.25%, 07/01/2036
|
537,333
|
|
|
|
San Francisco City & County Airport, Comm-San
Francisco International Airport, CA, Rev
|
|
|
|
345,000
|
4.00%, 05/01/2039
|
342,012
|
|
|
3,675,000
|
5.00%, 05/01/2034
|
4,178,027
|
|
|
265,000
|
5.00%, 05/01/2050
|
267,678
|
|
|
|
San Joaquin Hills Transportation Corridor
Agency, CA, Rev,
|
|
|
|
80,000
|
(NPFG) 0.00%, 01/15/2026(5)
|
79,461
|
|
|
235,000
|
(NPFG) 0.00%, 01/15/2032(5)
|
191,257
|
|
|
70,000
|
(NPFG) 0.00%, 01/15/2035(5)
|
50,500
|
|
|
1,250,000
|
4.00%, 01/15/2034
|
1,308,271
|
|
|
|
|
|
43,898,033
|
|
|
Colorado - 3.1%
|
||
|
|
Baseline Metropolitan Dist No. 1, CO, GO,
|
|
|
|
375,000
|
(AG) 5.00%, 12/01/2030
|
414,481
|
|
|
635,000
|
(AG) 5.00%, 12/01/2032
|
704,665
|
|
|
1,970,000
|
City & County of Denver Airport System, CO, Rev
5.50%, 11/15/2032
|
2,283,845
|
|
|
400,000
|
City of Colorado Springs Utilities System, CO,
Rev 5.00%, 11/15/2049
|
424,671
|
|
|
1,000,000
|
Colorado Bridge & Tunnel Enterprise, CO, Rev,
(AG) 5.50%, 12/01/2054
|
1,083,577
|
|
|
|
Colorado Health Facs Auth, CO, Rev
|
|
|
|
170,000
|
4.00%, 12/01/2040
|
161,984
|
|
|
1,580,000
|
5.00%, 12/01/2034
|
1,724,971
|
|
|
1,000,000
|
5.00%, 12/01/2035
|
1,085,374
|
|
|
500,000
|
5.00%, 05/15/2036
|
553,333
|
|
|
345,000
|
5.00%, 05/15/2037
|
379,436
|
|
|
2,000,000
|
Denver City & County School Dist No. 1, CO, GO,
(ST AID WITHHLDG) 5.00%, 12/01/2025
|
2,003,364
|
|
|
160,000
|
Denver Convention Center Hotel Auth, CO, Rev
5.00%, 12/01/2031
|
162,275
|
|
|
1,000,000
|
E-470 Public Highway Auth, CO, Rev 3.61%,
09/01/2039, 6 mo. USD SOFR + 0.75%(1)
|
997,783
|
|
|
|
23
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Colorado - 3.1% - (continued)
|
||
|
$ 1,030,000
|
Park Creek Metropolitan Dist, CO, Rev 5.00%,
12/01/2029
|
$1,091,799
|
|
|
450,000
|
Park Creek Metropolitan Dist, CO, Tax Allocation,
(AG) 5.00%, 12/01/2032
|
511,855
|
|
|
300,000
|
Public Auth for Colorado Energy, CO, Rev 6.50%,
11/15/2038
|
366,002
|
|
|
|
Regional Transportation Dist, CO, Rev
|
|
|
|
500,000
|
4.00%, 07/15/2039
|
492,705
|
|
|
400,000
|
5.00%, 07/15/2029
|
423,084
|
|
|
500,000
|
5.00%, 01/15/2030
|
532,657
|
|
|
100,000
|
5.00%, 07/15/2032
|
107,722
|
|
|
2,275,000
|
Southern Ute Indian Tribe of the Southern Ute
Reservation, CO, GO 5.00%, 04/01/2035(2)
|
2,488,179
|
|
|
715,000
|
University of Colorado Hospital Auth, CO, Rev
5.00%, 11/15/2029
|
779,151
|
|
|
|
|
|
18,772,913
|
|
|
Connecticut - 1.9%
|
||
|
100,000
|
City of Bridgeport, CT, GO, (BAM) 5.00%,
07/15/2034
|
105,199
|
|
|
245,000
|
Connecticut Housing Finance Auth, CT, Rev,
(FHLMC), (FNMA), (GNMA) 4.25%,
05/15/2042
|
246,279
|
|
|
1,000,000
|
Connecticut State Health & Educational Facs
Auth, CT, Rev 2.95%, 07/01/2049(1)
|
998,294
|
|
|
3,000,000
|
Stamford Housing Auth, CT, Rev 4.25%,
10/01/2030
|
3,030,500
|
|
|
|
State of Connecticut, CT, GO
|
|
|
|
845,000
|
3.00%, 06/01/2038
|
776,457
|
|
|
6,225,000
|
5.00%, 10/15/2031
|
6,359,050
|
|
|
|
|
|
11,515,779
|
|
|
District of Columbia - 0.2%
|
||
|
|
Dist of Columbia, DC, Rev
|
|
|
|
250,000
|
5.00%, 07/01/2037
|
251,930
|
|
|
455,000
|
5.00%, 07/01/2042
|
452,014
|
|
|
500,000
|
Metropolitan Washington Airports Auth, Aviation,
DC, Rev 5.00%, 10/01/2035
|
550,204
|
|
|
|
|
|
1,254,148
|
|
|
Florida - 2.7%
|
||
|
725,000
|
Alachua County Health Facs Auth, FL, Rev
3.75%, 10/01/2030
|
726,183
|
|
|
500,000
|
Alachua County School Board, FL, COP, (AG)
5.00%, 07/01/2028
|
529,196
|
|
|
185,000
|
Capital Projects Finance Auth, FL, Rev 5.00%,
10/01/2027
|
190,054
|
|
|
500,000
|
Capital Trust Auth, FL, Rev 5.00%, 07/01/2045(2)
|
487,173
|
|
|
125,000
|
City of Atlantic Beach, FL, Rev 5.00%,
11/15/2043
|
125,303
|
|
|
270,000
|
County of Broward Airport System, FL, Rev
4.00%, 10/01/2044
|
248,876
|
|
|
|
County of Miami-Dade Seaport Department, FL,
Rev
|
|
|
|
1,085,000
|
5.00%, 10/01/2035
|
1,183,124
|
|
|
200,000
|
5.00%, 10/01/2036
|
216,853
|
|
|
445,000
|
Escambia County Health Facs Auth, FL, Rev
4.00%, 08/15/2045
|
398,320
|
|
|
|
Florida Local Government Finance Commission,
FL, Rev
|
|
|
|
2,155,000
|
4.20%, 11/15/2030(2)
|
2,165,034
|
|
|
335,000
|
6.63%, 11/15/2045(2)
|
352,125
|
|
|
1,650,000
|
Greater Orlando Aviation Auth, FL, Rev 5.00%,
10/01/2036
|
1,841,230
|
|
|
160,000
|
Lee County Industrial Dev Auth, FL, Rev 4.13%,
11/15/2029
|
160,827
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Florida - 2.7% - (continued)
|
||
|
$ 500,000
|
Middleton Community Dev Dist A, FL, Special
Assessment 4.75%, 05/01/2055
|
$473,053
|
|
|
250,000
|
Orange County Health Facs Auth, FL, Rev
5.00%, 10/01/2041
|
273,052
|
|
|
950,000
|
Orlando Utilities Commission, FL, Rev 1.25%,
10/01/2046(1)
|
870,096
|
|
|
|
Polk County Industrial Dev Auth, FL, Rev
|
|
|
|
395,000
|
5.00%, 01/01/2029
|
404,309
|
|
|
190,000
|
5.00%, 01/01/2055
|
177,989
|
|
|
445,000
|
St. Johns County Industrial Dev Auth, FL, Rev
4.00%, 12/15/2046
|
356,663
|
|
|
155,000
|
Village Community Dev Dist No. 13, FL, Special
Assessment 2.55%, 05/01/2031
|
148,091
|
|
|
1,180,000
|
Village Community Dev Dist No. 14, FL, Special
Assessment 5.13%, 05/01/2037
|
1,232,341
|
|
|
500,000
|
Village Community Dev Dist No. 15, FL, Special
Assessment 4.80%, 05/01/2055(2)
|
476,112
|
|
|
|
Village Community Dev Dist No. 16, FL, Special
Assessment
|
|
|
|
1,860,000
|
4.00%, 05/01/2035(3)
|
1,866,925
|
|
|
1,250,000
|
4.50%, 05/01/2040(3)
|
1,259,174
|
|
|
|
|
|
16,162,103
|
|
|
Georgia - 3.7%
|
||
|
1,350,000
|
Bartow County Dev Auth, GA, Rev 3.95%,
12/01/2032(1)
|
1,371,992
|
|
|
|
City of Atlanta Department of Aviation, GA, Rev
|
|
|
|
2,970,000
|
5.00%, 07/01/2032
|
3,333,013
|
|
|
1,020,000
|
5.00%, 07/01/2033
|
1,152,759
|
|
|
285,000
|
Dev Auth of Monroe County, GA, Rev 3.88%,
10/01/2048(1)
|
285,661
|
|
|
215,000
|
Georgia Housing & Finance Auth, GA, Rev
5.00%, 12/01/2042
|
226,236
|
|
|
|
Main Street Natural Gas, Inc., GA, Rev
|
|
|
|
2,950,000
|
4.00%, 05/01/2052(1)
|
3,009,719
|
|
|
1,760,000
|
5.00%, 07/01/2053(1)
|
1,886,248
|
|
|
475,000
|
5.00%, 09/01/2053(1)
|
508,161
|
|
|
1,225,000
|
5.00%, 12/01/2053(1)
|
1,319,187
|
|
|
275,000
|
5.00%, 04/01/2054(1)
|
298,432
|
|
|
2,380,000
|
5.00%, 05/01/2054(1)
|
2,573,606
|
|
|
1,810,000
|
5.00%, 12/01/2054(1)
|
1,968,979
|
|
|
1,000,000
|
5.00%, 06/01/2055(1)
|
1,095,227
|
|
|
|
Municipal Electric Auth of Georgia, GA, Rev,
|
|
|
|
1,000,000
|
(AG) 5.00%, 07/01/2048
|
1,024,332
|
|
|
520,000
|
5.00%, 07/01/2052
|
527,140
|
|
|
|
Savannah Georgia Convention Center Auth, GA,
Rev,
|
|
|
|
300,000
|
(AG) 5.00%, 06/01/2040
|
326,439
|
|
|
450,000
|
(AG) 5.25%, 06/01/2041
|
493,227
|
|
|
450,000
|
(AG) 5.25%, 06/01/2042
|
488,448
|
|
|
310,000
|
5.25%, 06/01/2061
|
308,751
|
|
|
|
|
|
22,197,557
|
|
|
Guam - 0.3%
|
||
|
|
Government of Guam Business Privilege Tax
Refunding Bonds, GU, Rev
|
|
|
|
820,000
|
5.00%, 01/01/2031
|
886,822
|
|
|
500,000
|
5.25%, 01/01/2037
|
553,349
|
|
|
500,000
|
5.25%, 01/01/2038
|
549,986
|
|
|
|
|
|
1,990,157
|
|
|
Hawaii - 0.2%
|
||
|
|
State of Hawaii Airports System, HI, Rev
|
|
|
|
100,000
|
5.00%, 07/01/2031
|
105,005
|
|
|
780,000
|
5.00%, 07/01/2040
|
847,310
|
|
|
300,000
|
5.00%, 07/01/2041
|
322,493
|
|
|
|
|
|
1,274,808
|
|
|
24
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Idaho - 0.2%
|
||
|
$ 1,000,000
|
Idaho Housing & Finance Association, ID, Rev,
(FHLMC), (FNMA), (GNMA) 5.75%,
01/01/2053
|
$1,084,676
|
|
|
|
Illinois - 10.8%
|
||
|
|
Chicago Board of Education Dedicated Capital
Improvement Tax, IL, Rev
|
|
|
|
250,000
|
5.00%, 04/01/2033
|
257,057
|
|
|
380,000
|
5.25%, 04/01/2035
|
416,556
|
|
|
250,000
|
5.25%, 04/01/2036
|
271,796
|
|
|
|
Chicago Board of Education, IL, GO,
|
|
|
|
110,000
|
(NPFG) 0.00%, 12/01/2026(5)
|
105,663
|
|
|
500,000
|
5.00%, 12/01/2028
|
509,456
|
|
|
1,100,000
|
5.00%, 12/01/2032
|
1,120,937
|
|
|
400,000
|
5.00%, 12/01/2046
|
362,952
|
|
|
2,500,000
|
5.25%, 12/01/2036
|
2,546,989
|
|
|
1,745,000
|
5.75%, 12/01/2050
|
1,732,822
|
|
|
4,180,000
|
6.00%, 12/01/2037(3)
|
4,528,398
|
|
|
370,000
|
Chicago Midway International Airport, IL, Rev,
(BAM) 5.50%, 01/01/2038
|
414,564
|
|
|
|
Chicago O'Hare International Airport, IL, Rev,
|
|
|
|
200,000
|
(BAM) 5.00%, 01/01/2037
|
221,724
|
|
|
1,785,000
|
(BAM) 5.00%, 01/01/2038
|
1,965,370
|
|
|
1,700,000
|
5.50%, 07/01/2040
|
1,868,417
|
|
|
1,000,000
|
Chicago Transit Auth Sales Tax Receipts Fund,
IL, Rev 5.00%, 12/01/2049
|
1,030,405
|
|
|
|
City of Chicago Wastewater Transmission, IL,
Rev,
|
|
|
|
695,000
|
(BAM) 5.00%, 01/01/2041
|
751,606
|
|
|
90,000
|
(NPFG) 5.50%, 01/01/2030
|
94,064
|
|
|
530,000
|
City of Chicago Waterworks, IL, Rev, (AG) 5.00%,
11/01/2037
|
576,563
|
|
|
500,000
|
City of Chicago, IL, GO, (NPFG) 0.00%,
01/01/2026(5)
|
497,325
|
|
|
1,385,000
|
City of Granite City, IL, Rev 1.25%, 05/01/2027
|
1,331,424
|
|
|
900,000
|
Cook County Community College Dist No. 508,
IL, GO, (BAM) 5.00%, 12/01/2038
|
966,736
|
|
|
|
Illinois Finance Auth, IL, Rev
|
|
|
|
640,000
|
4.00%, 07/15/2039
|
635,956
|
|
|
460,000
|
5.00%, 10/01/2027
|
479,191
|
|
|
585,000
|
5.00%, 10/01/2028
|
620,819
|
|
|
235,000
|
5.00%, 08/15/2033
|
256,879
|
|
|
150,000
|
5.00%, 11/15/2045
|
150,044
|
|
|
|
Illinois Housing Dev Auth, IL, Rev,
|
|
|
|
6,185,000
|
(FHLMC), (FNMA), (GNMA) 3.35%,
02/01/2038(1)
|
6,185,000
|
|
|
2,490,000
|
(FHLMC), (FNMA), (GNMA) 5.25%,
10/01/2052
|
2,600,450
|
|
|
790,000
|
(FHLMC), (FNMA), (GNMA) 5.50%,
10/01/2053
|
847,768
|
|
|
415,000
|
(FHLMC), (FNMA), (GNMA) 5.75%,
10/01/2053
|
442,163
|
|
|
2,410,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
10/01/2054
|
2,609,738
|
|
|
800,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
10/01/2055
|
888,662
|
|
|
320,000
|
Illinois State Toll Highway Auth, IL, Rev 4.00%,
01/01/2040
|
320,910
|
|
|
360,000
|
Kane County School Dist No. 131 Aurora East
Side, IL, GO, (AG) 5.00%, 12/01/2025
|
360,518
|
|
|
100,000
|
Kane McHenry Cook & De Kalb Counties Unit
School Dist No. 300, IL, GO 5.00%,
01/01/2032
|
102,844
|
|
|
|
Kendall Kane & Will Counties Community Unit
School Dist No. 308, IL, GO,
|
|
|
|
150,000
|
(AG) 0.00%, 02/01/2027(5)
|
143,903
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Illinois - 10.8% - (continued)
|
||
|
$ 500,000
|
5.00%, 02/01/2031
|
$502,498
|
|
|
|
Metropolitan Pier & Exposition Auth, IL, Rev,
|
|
|
|
205,000
|
(NPFG) 0.00%, 12/15/2025(5)
|
204,210
|
|
|
595,000
|
4.00%, 12/15/2042
|
559,001
|
|
|
1,055,000
|
Metropolitan Water Reclamation Dist of Greater
Chicago, IL, GO 5.00%, 12/01/2025
|
1,056,640
|
|
|
|
Rock Island County School Dist No. 41 Rock
Island, IL, GO,
|
|
|
|
1,000,000
|
(AG) 5.00%, 01/01/2041
|
1,079,153
|
|
|
1,000,000
|
(AG) 5.00%, 01/01/2042
|
1,067,035
|
|
|
|
Sales Tax Securitization Corp., IL, Rev
|
|
|
|
785,000
|
4.00%, 01/01/2038
|
781,771
|
|
|
1,785,000
|
5.00%, 01/01/2026
|
1,790,931
|
|
|
550,000
|
5.00%, 01/01/2030
|
594,209
|
|
|
1,500,000
|
5.00%, 01/01/2034
|
1,714,913
|
|
|
845,000
|
5.00%, 01/01/2037
|
897,569
|
|
|
|
St. Clair County Community Unit School Dist No.
187 Cahokia, IL, GO,
|
|
|
|
240,000
|
(AG) 5.00%, 01/01/2029
|
255,376
|
|
|
250,000
|
(AG) 5.00%, 01/01/2030
|
271,024
|
|
|
250,000
|
(AG) 5.00%, 01/01/2031
|
275,703
|
|
|
320,000
|
(AG) 5.00%, 01/01/2032
|
357,579
|
|
|
|
State of Illinois Sales Tax, IL, Rev
|
|
|
|
115,000
|
5.00%, 06/15/2027
|
116,180
|
|
|
1,000,000
|
5.00%, 06/15/2035
|
1,132,325
|
|
|
|
State of Illinois, IL, GO
|
|
|
|
1,010,000
|
5.00%, 11/01/2025
|
1,010,000
|
|
|
1,645,000
|
5.00%, 05/01/2027
|
1,694,394
|
|
|
6,000,000
|
5.00%, 09/01/2040
|
6,466,492
|
|
|
4,750,000
|
5.00%, 12/01/2042
|
4,988,267
|
|
|
550,000
|
5.50%, 03/01/2042
|
593,198
|
|
|
100,000
|
Village of Bolingbrook, IL, GO, (AG) 5.00%,
01/01/2028
|
104,432
|
|
|
|
|
|
65,728,569
|
|
|
Indiana - 1.3%
|
||
|
260,024
|
City of Evansville, IN, Rev, (FNMA) 3.00%,
06/01/2034
|
248,166
|
|
|
2,550,000
|
City of Whiting, IN, Rev 4.40%, 11/01/2045(1)
|
2,695,660
|
|
|
|
Danville Multi-School Building Corp., IN, Rev,
|
|
|
|
750,000
|
(ST INTERCEPT) 5.00%, 01/15/2034
|
857,919
|
|
|
440,000
|
(ST INTERCEPT) 5.00%, 07/15/2034
|
504,635
|
|
|
650,000
|
(ST INTERCEPT) 5.00%, 07/15/2035
|
738,906
|
|
|
750,000
|
Indiana Municipal Power Agency, IN, Rev, (AG)
5.00%, 01/01/2034
|
870,643
|
|
|
|
Indianapolis Local Public Improvement Bond
Bank, IN, Rev
|
|
|
|
230,000
|
5.00%, 01/01/2040
|
253,591
|
|
|
425,000
|
5.00%, 01/01/2041
|
462,524
|
|
|
500,000
|
5.00%, 01/01/2042
|
538,025
|
|
|
750,000
|
5.00%, 01/01/2043
|
799,197
|
|
|
|
|
|
7,969,266
|
|
|
Iowa - 1.1%
|
||
|
575,000
|
Iowa Finance Auth, IA, Rev 5.00%, 02/15/2027
|
587,598
|
|
|
|
Iowa Student Loan Liquidity Corp., IA, Rev
|
|
|
|
350,000
|
5.00%, 12/01/2025
|
350,466
|
|
|
2,800,000
|
5.00%, 12/01/2030
|
2,964,490
|
|
|
1,415,000
|
5.00%, 12/01/2033
|
1,537,987
|
|
|
1,270,000
|
5.00%, 12/01/2035
|
1,364,608
|
|
|
|
|
|
6,805,149
|
|
|
Kentucky - 1.2%
|
||
|
|
Kentucky Higher Education Student Loan Corp.,
KY, Rev
|
|
|
|
890,000
|
5.00%, 06/01/2028
|
918,248
|
|
|
1,020,000
|
5.00%, 06/01/2029
|
1,062,211
|
|
|
1,190,000
|
5.00%, 06/01/2030
|
1,248,249
|
|
|
|
25
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Kentucky - 1.2% - (continued)
|
||
|
$ 1,190,000
|
5.00%, 06/01/2031
|
$1,257,082
|
|
|
|
Kentucky Public Energy Auth, KY, Rev
|
|
|
|
1,250,000
|
5.25%, 04/01/2054(1)
|
1,378,270
|
|
|
1,250,000
|
5.25%, 06/01/2055(1)
|
1,336,088
|
|
|
|
|
|
7,200,148
|
|
|
Louisiana - 1.5%
|
||
|
325,000
|
East Baton Rouge Sewerage Commission, LA,
Rev 1.30%, 02/01/2041(1)
|
304,624
|
|
|
|
Louisiana Public Facs Auth, LA, Rev
|
|
|
|
1,445,000
|
5.00%, 05/15/2030
|
1,557,777
|
|
|
515,000
|
(AG) 5.00%, 08/01/2030
|
569,085
|
|
|
335,000
|
(AG) 5.00%, 08/01/2032
|
380,639
|
|
|
270,000
|
(AG) 5.00%, 01/01/2035
|
310,190
|
|
|
230,000
|
(AG) 5.00%, 07/01/2035
|
264,577
|
|
|
270,000
|
(AG) 5.00%, 01/01/2036
|
309,182
|
|
|
245,000
|
(AG) 5.00%, 07/01/2036
|
279,613
|
|
|
|
New Orleans Aviation Board, LA, Rev
|
|
|
|
150,000
|
5.00%, 01/01/2029
|
160,332
|
|
|
200,000
|
5.00%, 01/01/2030
|
217,425
|
|
|
2,855,000
|
Parish of St. James, LA, Rev 3.70%,
08/01/2041(1)
|
2,882,832
|
|
|
|
Parish of St. John the Baptist, LA, Rev
|
|
|
|
305,000
|
2.38%, 06/01/2037(1)
|
303,909
|
|
|
1,160,000
|
3.30%, 06/01/2037(1)
|
1,174,110
|
|
|
470,000
|
State of Louisiana Gasoline & Fuels Tax, LA, Rev
3.49%, 05/01/2043, 6 mo. USD SOFR +
0.50%(1)
|
468,882
|
|
|
|
|
|
9,183,177
|
|
|
Maine - 0.0%
|
||
|
275,000
|
Maine Health & Higher Educational Facs Auth,
ME, Rev, (AG), (ST INTERCEPT) 4.00%,
07/01/2035
|
284,315
|
|
|
|
Maryland - 0.1%
|
||
|
475,000
|
Maryland Health & Higher Educational Facs Auth,
MD, Rev 5.00%, 07/01/2049
|
491,671
|
|
|
|
Massachusetts - 3.0%
|
||
|
|
Massachusetts Dev Finance Agency, MA, Rev
|
|
|
|
405,000
|
3.82%, 07/01/2049, SIFMA Municipal Swap
Index + 0.60%(1)(2)
|
405,120
|
|
|
1,000,000
|
5.00%, 07/01/2027
|
1,023,791
|
|
|
575,000
|
5.00%, 01/01/2028
|
592,832
|
|
|
585,000
|
5.00%, 01/01/2029
|
611,653
|
|
|
1,085,000
|
5.00%, 07/01/2029
|
1,141,673
|
|
|
555,000
|
5.00%, 01/01/2030
|
587,792
|
|
|
680,000
|
5.00%, 07/01/2031
|
694,715
|
|
|
675,000
|
5.00%, 07/01/2034
|
690,756
|
|
|
1,000,000
|
5.00%, 06/01/2038
|
1,115,557
|
|
|
750,000
|
5.00%, 07/01/2038
|
841,840
|
|
|
1,000,000
|
5.00%, 07/01/2039
|
1,112,094
|
|
|
945,000
|
5.00%, 06/01/2040
|
1,032,064
|
|
|
2,880,000
|
5.00%, 07/01/2040
|
3,055,800
|
|
|
350,000
|
5.00%, 07/01/2044
|
344,789
|
|
|
535,000
|
5.00%, 07/01/2055
|
548,410
|
|
|
380,000
|
5.00%, 10/01/2057(2)
|
366,932
|
|
|
1,000,000
|
5.00%, 07/01/2060(2)
|
941,268
|
|
|
|
Massachusetts Educational Financing Auth, MA,
Rev
|
|
|
|
100,000
|
5.00%, 07/01/2026
|
101,049
|
|
|
110,000
|
5.00%, 07/01/2027
|
112,657
|
|
|
2,800,000
|
Massachusetts Health & Educational Facs Auth,
MA, Rev 2.90%, 07/01/2027(1)
|
2,800,000
|
|
|
|
|
|
18,120,792
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Michigan - 1.8%
|
||
|
$ 500,000
|
Clarkston Community Schools, MI, GO, (Q-SBLF)
5.00%, 05/01/2037
|
$569,243
|
|
|
1,110,000
|
Detroit Downtown Dev Auth, MI, Tax Allocation
5.00%, 07/01/2048
|
1,155,177
|
|
|
895,000
|
Detroit Regional Convention Facility Auth, MI,
Rev 5.00%, 10/01/2036
|
992,669
|
|
|
570,000
|
Great Lakes Water Auth, Water Supply System,
MI, Rev 5.00%, 07/01/2037
|
644,952
|
|
|
|
Michigan Finance Auth, MI, Rev
|
|
|
|
1,250,000
|
4.00%, 11/15/2046
|
1,150,375
|
|
|
750,000
|
5.00%, 11/01/2032
|
790,960
|
|
|
600,000
|
5.25%, 02/29/2040
|
651,633
|
|
|
100,000
|
5.25%, 02/28/2041
|
107,634
|
|
|
|
Michigan State Housing Dev Auth, MI, Rev
|
|
|
|
425,000
|
3.45%, 12/01/2030
|
431,751
|
|
|
320,000
|
4.25%, 06/01/2049
|
321,597
|
|
|
205,000
|
4.25%, 12/01/2049
|
206,504
|
|
|
1,135,000
|
5.75%, 06/01/2054
|
1,211,655
|
|
|
|
Michigan Strategic Fund, MI, Rev
|
|
|
|
695,000
|
3.35%, 10/01/2049(1)
|
693,237
|
|
|
540,000
|
3.88%, 06/01/2053(1)
|
531,066
|
|
|
1,100,000
|
Northern Michigan University, MI, Rev 5.50%,
06/01/2050
|
1,195,550
|
|
|
|
|
|
10,654,003
|
|
|
Minnesota - 0.3%
|
||
|
373,437
|
Freddie Mac Multifamily ML Certificates, MN, Rev
2.54%, 06/25/2037
|
327,047
|
|
|
750,000
|
Minnesota Health & Education Facs Auth, MN,
Rev 3.00%, 10/01/2038
|
684,041
|
|
|
|
Minnesota Housing Finance Agency, MN, Rev,
|
|
|
|
505,000
|
(FHLMC), (FNMA), (GNMA) 5.05%,
07/01/2031
|
534,804
|
|
|
520,000
|
(FHLMC), (FNMA), (GNMA) 5.05%,
01/01/2032
|
557,420
|
|
|
|
|
|
2,103,312
|
|
|
Mississippi - 0.8%
|
||
|
4,000,000
|
State of Mississippi Gaming Tax, MS, Rev 5.00%,
10/15/2029
|
4,229,379
|
|
|
850,000
|
State of Mississippi, MS, Rev 5.00%, 10/01/2042
|
915,697
|
|
|
|
|
|
5,145,076
|
|
|
Missouri - 0.8%
|
||
|
|
City of St. Louis Airport, MO, Rev,
|
|
|
|
750,000
|
(AG) 5.00%, 07/01/2037
|
848,239
|
|
|
100,000
|
(AG) 5.00%, 07/01/2039
|
110,934
|
|
|
|
Health & Educational Facs Auth of the State of
Missouri, MO, Rev
|
|
|
|
850,000
|
4.00%, 01/01/2050(1)
|
789,832
|
|
|
555,000
|
5.00%, 06/01/2032
|
620,387
|
|
|
|
Missouri Housing Dev Commission, MO, Rev,
|
|
|
|
1,005,000
|
(FHLMC), (FNMA), (GNMA) 4.25%,
05/01/2047
|
1,012,225
|
|
|
205,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
05/01/2031
|
224,264
|
|
|
225,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
05/01/2032
|
247,792
|
|
|
450,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
05/01/2033
|
500,178
|
|
|
650,000
|
St. Louis County Industrial Dev Auth, MO, Rev
5.00%, 09/01/2028
|
670,070
|
|
|
|
|
|
5,023,921
|
|
|
26
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Montana - 0.3%
|
||
|
$ 970,000
|
Montana Board of Housing, MT, Rev 6.00%,
12/01/2054
|
$1,049,219
|
|
|
815,000
|
Montana Facility Finance Auth, MT, Rev 5.00%,
02/15/2065(1)
|
876,194
|
|
|
|
|
|
1,925,413
|
|
|
Nebraska - 0.3%
|
||
|
1,365,000
|
Central Plains Energy Project, NE, Rev 5.00%,
05/01/2054(1)
|
1,463,402
|
|
|
500,000
|
Nebraska Investment Finance Auth, NE, Rev,
(FHLMC), (FNMA), (GNMA) 5.00%,
03/01/2049
|
515,902
|
|
|
|
|
|
1,979,304
|
|
|
Nevada - 0.2%
|
||
|
250,000
|
City of North Las Vegas, NV, Special Assessment
4.50%, 06/01/2039
|
247,348
|
|
|
280,000
|
City of Reno, NV, Rev, (AG) 5.00%, 06/01/2033
|
297,026
|
|
|
300,000
|
Clark County School Dist, NV, GO 5.00%,
06/15/2035
|
317,062
|
|
|
250,000
|
County of Clark Passenger Facility Charge, NV,
Rev 5.00%, 07/01/2028
|
265,419
|
|
|
|
|
|
1,126,855
|
|
|
New Hampshire - 2.4%
|
||
|
|
New Hampshire Business Finance Auth, NH, Rev
|
|
|
|
1,295,000
|
4.00%, 12/01/2028
|
1,309,529
|
|
|
4,225,000
|
5.00%, 12/01/2035
|
4,725,422
|
|
|
650,000
|
(BAM) 5.00%, 06/01/2036
|
727,121
|
|
|
715,000
|
(BAM) 5.00%, 12/01/2036
|
797,096
|
|
|
860,000
|
(BAM) 5.00%, 12/01/2037
|
951,832
|
|
|
665,000
|
(BAM) 5.00%, 12/01/2038
|
731,027
|
|
|
5,000,000
|
5.25%, 06/01/2041
|
5,401,961
|
|
|
|
|
|
14,643,988
|
|
|
New Jersey - 0.4%
|
||
|
830,000
|
New Jersey Educational Facs Auth, NJ, Rev, (AG)
5.00%, 07/01/2043
|
891,119
|
|
|
430,000
|
New Jersey Higher Education Student Assistance
Auth, NJ, Rev 5.00%, 12/01/2025
|
430,466
|
|
|
750,000
|
New Jersey Transportation Trust Fund Auth, NJ,
Rev 5.00%, 06/15/2035
|
875,447
|
|
|
250,000
|
Tobacco Settlement Financing Corp., NJ, Rev
5.00%, 06/01/2029
|
262,867
|
|
|
|
|
|
2,459,899
|
|
|
New Mexico - 1.1%
|
||
|
4,250,000
|
City of Santa Fe, NM, Rev 5.00%, 05/15/2049
|
3,962,527
|
|
|
|
New Mexico Mortgage Finance Auth, NM, Rev,
|
|
|
|
750,000
|
(FHLMC), (FNMA), (GNMA) 2.70%,
09/01/2047
|
553,437
|
|
|
30,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
01/01/2049
|
30,066
|
|
|
1,700,000
|
(FHLMC), (FNMA), (GNMA) 6.50%,
09/01/2054
|
1,864,532
|
|
|
|
|
|
6,410,562
|
|
|
New York - 6.8%
|
||
|
750,000
|
Albany Capital Resource Corp., NY, Rev 5.00%,
05/01/2035
|
863,791
|
|
|
530,000
|
City of New York, NY, GO 5.00%, 04/01/2036
|
553,987
|
|
|
515,000
|
Empire State Dev Corp., NY, Rev 5.00%,
03/15/2038
|
530,716
|
|
|
2,569,150
|
FHLMC Multifamily VRD Certificates, NY, Rev
4.50%, 06/25/2042(1)
|
2,595,189
|
|
|
295,000
|
Long Island Power Auth, NY, Rev 5.00%,
09/01/2033
|
313,658
|
|
|
|
Metropolitan Transportation Auth, NY, Rev
|
|
|
|
2,000,000
|
5.00%, 11/15/2029
|
2,001,403
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
New York - 6.8% - (continued)
|
||
|
$ 265,000
|
5.00%, 11/15/2032
|
$265,186
|
|
|
195,000
|
5.00%, 11/15/2033
|
213,485
|
|
|
750,000
|
5.00%, 11/15/2035
|
860,536
|
|
|
1,000,000
|
5.00%, 11/15/2045(1)
|
1,083,277
|
|
|
575,000
|
5.00%, 11/15/2048
|
586,069
|
|
|
|
New York City Health & Hospitals Corp., NY, Rev
|
|
|
|
455,000
|
5.00%, 02/15/2036
|
525,829
|
|
|
750,000
|
5.00%, 02/15/2037
|
858,096
|
|
|
2,500,000
|
New York City Housing Dev Corp., NY, Rev
5.25%, 12/15/2031
|
2,577,451
|
|
|
|
New York City Industrial Dev Agency, NY, Rev,
|
|
|
|
670,000
|
(AG) 3.00%, 01/01/2033
|
663,120
|
|
|
150,000
|
(AG) 5.00%, 03/01/2030
|
163,359
|
|
|
|
New York City Municipal Water Finance Auth, NY,
Rev
|
|
|
|
1,200,000
|
3.00%, 06/15/2040
|
1,062,735
|
|
|
500,000
|
5.00%, 06/15/2040
|
527,451
|
|
|
|
New York City Transitional Finance Auth, Future
Tax Secured, NY, Rev
|
|
|
|
200,000
|
5.00%, 05/01/2037
|
224,439
|
|
|
1,930,000
|
5.00%, 05/01/2038
|
2,124,192
|
|
|
1,030,000
|
5.00%, 05/01/2042
|
1,126,103
|
|
|
1,110,000
|
New York Energy Finance Dev Corp., NY, Rev
5.00%, 07/01/2056(1)
|
1,193,243
|
|
|
|
New York Liberty Dev Corp., NY, Rev
|
|
|
|
450,000
|
0.95%, 11/15/2027
|
421,592
|
|
|
405,000
|
2.75%, 02/15/2044
|
304,808
|
|
|
2,175,000
|
5.00%, 11/15/2044(2)
|
2,174,956
|
|
|
|
New York State Dormitory Auth, NY, Rev
|
|
|
|
1,000,000
|
3.00%, 03/15/2041
|
858,922
|
|
|
630,000
|
(AG), (ST AID WITHHLDG) 5.00%, 10/01/2037
|
695,704
|
|
|
245,000
|
(AG), (ST AID WITHHLDG) 5.00%, 10/01/2038
|
268,701
|
|
|
290,000
|
5.25%, 07/01/2039
|
327,793
|
|
|
2,000,000
|
5.25%, 07/01/2040
|
2,235,970
|
|
|
750,000
|
5.25%, 07/01/2050
|
754,862
|
|
|
320,000
|
(AG) 5.50%, 07/01/2055
|
346,293
|
|
|
1,800,000
|
New York State Housing Finance Agency, NY,
Rev 3.15%, 11/15/2037(1)
|
1,800,000
|
|
|
|
New York Transportation Dev Corp., NY, Rev,
|
|
|
|
370,000
|
(AG) 0.00%, 12/31/2054(4)
|
240,407
|
|
|
865,000
|
6.00%, 06/30/2041
|
969,386
|
|
|
4,570,000
|
6.00%, 06/30/2055
|
4,879,764
|
|
|
|
Port Auth of New York & New Jersey, NY, Rev
|
|
|
|
500,000
|
3.00%, 10/01/2027
|
496,846
|
|
|
800,000
|
5.00%, 11/15/2035
|
810,672
|
|
|
835,000
|
5.00%, 01/15/2037
|
909,717
|
|
|
290,000
|
5.00%, 12/01/2037
|
316,365
|
|
|
700,000
|
5.00%, 11/01/2038
|
726,782
|
|
|
500,000
|
5.00%, 12/01/2038
|
541,575
|
|
|
|
|
|
40,994,430
|
|
|
North Carolina - 2.4%
|
||
|
2,570,000
|
Cumberland County Industrial Facs & Pollution
Control Financing Auth, NC, Rev 3.13%,
12/01/2027(1)(3)
|
2,567,463
|
|
|
770,000
|
Nash Health Care Systems, NC, Rev 5.00%,
02/01/2032
|
853,833
|
|
|
|
North Carolina Housing Finance Agency, NC,
Rev,
|
|
|
|
730,000
|
(FHLMC), (FNMA), (GNMA) 3.75%,
07/01/2052
|
730,492
|
|
|
605,000
|
(FHLMC), (FNMA), (GNMA) 6.25%,
01/01/2056
|
680,929
|
|
|
|
North Carolina Medical Care Commission, NC,
Rev
|
|
|
|
5,000,000
|
3.30%, 11/01/2034(1)
|
5,000,000
|
|
|
670,000
|
3.90%, 01/01/2029
|
670,368
|
|
|
|
27
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
North Carolina - 2.4% - (continued)
|
||
|
$ 1,455,000
|
4.00%, 09/01/2051
|
$1,162,785
|
|
|
325,000
|
4.25%, 09/01/2028
|
325,039
|
|
|
1,075,000
|
5.00%, 06/01/2032
|
1,088,116
|
|
|
395,000
|
5.00%, 01/01/2038
|
401,441
|
|
|
145,000
|
5.00%, 01/01/2039
|
138,824
|
|
|
210,000
|
5.00%, 01/01/2044
|
210,743
|
|
|
500,000
|
5.50%, 09/01/2054
|
497,757
|
|
|
|
|
|
14,327,790
|
|
|
Ohio - 1.5%
|
||
|
1,230,000
|
Buckeye Tobacco Settlement Financing Auth,
OH, Rev 5.00%, 06/01/2055
|
1,030,788
|
|
|
100,000
|
Cleveland Department of Public Utilities Division
of Public Power, OH, Rev, (AG) 5.00%,
11/15/2030
|
104,757
|
|
|
|
County of Allen Hospital Facs, OH, Rev
|
|
|
|
250,000
|
5.00%, 12/01/2029
|
270,358
|
|
|
2,895,000
|
5.00%, 11/01/2039
|
3,221,582
|
|
|
1,435,000
|
Jefferson County Port Auth, OH, Rev 5.00%,
12/01/2053(1)(2)
|
1,471,506
|
|
|
845,000
|
Ohio Air Quality Dev Auth, OH, Rev 4.00%,
09/01/2030(1)
|
857,896
|
|
|
|
Ohio Housing Finance Agency, OH, Rev,
|
|
|
|
370,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
09/01/2032
|
440,751
|
|
|
360,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
03/01/2033
|
431,720
|
|
|
250,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
03/01/2034
|
302,920
|
|
|
650,000
|
(FHLMC), (FNMA), (GNMA) 6.25%,
03/01/2055
|
712,686
|
|
|
360,000
|
State of Ohio, OH, Rev 2.75%, 01/01/2052(1)
|
358,223
|
|
|
|
|
|
9,203,187
|
|
|
Oklahoma - 0.6%
|
||
|
925,000
|
Canadian County Educational Facs Auth, OK,
Rev 5.00%, 09/01/2033
|
1,051,962
|
|
|
555,000
|
Grand River Dam Auth, OK, Rev 5.00%,
06/01/2041
|
608,470
|
|
|
1,000,000
|
Oklahoma Municipal Power Auth, OK, Rev, (AG)
5.00%, 01/01/2037
|
1,146,568
|
|
|
590,000
|
Oklahoma Turnpike Auth, OK, Rev 5.00%,
01/01/2039
|
674,795
|
|
|
|
|
|
3,481,795
|
|
|
Oregon - 0.5%
|
||
|
30,000
|
Benton & Linn Counties Consolidated School Dist
No. 509J & 509A Corvallis, OR, GO, (SCH BD
GTY) 5.00%, 06/15/2038(1)(4)
|
31,329
|
|
|
|
Lincoln County School Dist, OR, GO,
|
|
|
|
425,000
|
(SCH BD GTY) 0.00%, 06/15/2035(4)
|
468,347
|
|
|
210,000
|
(SCH BD GTY) 0.00%, 06/15/2036(4)
|
228,890
|
|
|
20,000
|
Marion County School Dist No. 15 North Marion,
OR, GO, (SCH BD GTY) 0.00%, 06/15/2037(5)
|
12,263
|
|
|
115,000
|
Multnomah & Clackamas Counties School Dist
No. 10JT Gresham-Barlow, OR, GO, (SCH BD
GTY) 0.00%, 06/15/2038(5)
|
66,949
|
|
|
|
Port of Portland Airport, OR, Rev
|
|
|
|
575,000
|
5.00%, 07/01/2030
|
626,818
|
|
|
1,250,000
|
5.25%, 07/01/2040
|
1,375,097
|
|
|
40,000
|
Salem Hospital Facility Auth, OR, Rev 5.00%,
05/15/2038
|
40,566
|
|
|
25,000
|
State of Oregon Housing & Community Services
Department, OR, Rev 4.50%, 01/01/2049
|
25,057
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Oregon - 0.5% - (continued)
|
||
|
$ 25,000
|
State of Oregon, OR, GO 4.00%, 12/01/2048
|
$25,017
|
|
|
100,000
|
Washington Clackamas & Yamhill Counties
School Dist No. 88J, OR, GO, (SCH BD GTY)
0.00%, 06/15/2034(5)
|
72,147
|
|
|
|
|
|
2,972,480
|
|
|
Pennsylvania - 2.7%
|
||
|
360,000
|
Adams County General Auth, PA, Rev 3.60%,
06/01/2029
|
357,196
|
|
|
135,000
|
Armstrong School Dist, PA, GO, (BAM), (ST AID
WITHHLDG) 4.00%, 03/15/2035
|
138,008
|
|
|
735,000
|
City of Philadelphia Water & Wastewater, PA,
Rev, (AG) 5.00%, 09/01/2036
|
835,532
|
|
|
|
Coatesville School Dist, PA, GO,
|
|
|
|
3,000,000
|
(BAM), (ST AID WITHHLDG) 5.25%,
11/15/2037
|
3,211,663
|
|
|
230,000
|
(AG), (ST AID WITHHLDG) 5.25%, 11/15/2040
|
252,092
|
|
|
2,000,000
|
(AG), (ST AID WITHHLDG) 5.25%, 11/15/2042
|
2,146,747
|
|
|
605,000
|
(AG), (ST AID WITHHLDG) 5.25%, 11/15/2043
|
642,292
|
|
|
100,000
|
Commonwealth Financing Auth, PA, Rev 5.00%,
06/01/2027
|
103,282
|
|
|
450,000
|
Doylestown Hospital Auth, PA, Rev 5.38%,
07/01/2039(2)
|
493,795
|
|
|
585,000
|
Hospitals & Higher Education Facs Auth of
Philadelphia, PA, Rev, (AG) 5.00%, 07/01/2037
|
640,933
|
|
|
345,000
|
Lancaster Industrial Dev Auth, PA, Rev 4.00%,
07/01/2056
|
274,638
|
|
|
500,000
|
Lancaster School Dist, PA, GO, (BAM), (ST AID
WITHHLDG) 5.00%, 06/01/2043
|
535,764
|
|
|
|
Montgomery County Industrial Dev Auth, PA, Rev
|
|
|
|
230,000
|
5.00%, 12/01/2030
|
231,149
|
|
|
240,000
|
5.00%, 12/01/2044
|
240,483
|
|
|
100,000
|
5.00%, 12/01/2046
|
94,575
|
|
|
|
Pennsylvania Economic Dev Financing Auth
Parking System, PA, Rev,
|
|
|
|
465,000
|
(AG) 5.00%, 01/01/2038
|
495,537
|
|
|
290,000
|
(AG) 5.00%, 01/01/2040
|
300,591
|
|
|
100,000
|
Pennsylvania Economic Dev Financing Auth, PA,
Rev 5.00%, 05/15/2038
|
108,870
|
|
|
240,000
|
Pennsylvania Higher Education Assistance
Agency, PA, Rev 5.00%, 06/01/2029
|
251,752
|
|
|
750,000
|
Pennsylvania Higher Educational Facs Auth, PA,
Rev 5.00%, 05/01/2037
|
760,834
|
|
|
140,000
|
Pennsylvania Housing Finance Agency, PA, Rev
4.00%, 10/01/2038
|
139,892
|
|
|
|
Pennsylvania Turnpike Commission, PA, Rev
|
|
|
|
150,000
|
5.00%, 12/01/2030
|
157,261
|
|
|
1,500,000
|
5.00%, 12/01/2042
|
1,534,566
|
|
|
|
Pittsburgh Water & Sewer Auth, PA, Rev,
|
|
|
|
15,000
|
(AG) 5.00%, 09/01/2034
|
16,084
|
|
|
1,245,000
|
(AG) 5.00%, 09/01/2036
|
1,400,509
|
|
|
875,000
|
School Dist of Philadelphia, PA, GO, (ST AID
WITHHLDG) 5.00%, 09/01/2035
|
976,612
|
|
|
|
|
|
16,340,657
|
|
|
Puerto Rico - 2.9%
|
||
|
5,950,000
|
Commonwealth of Puerto Rico, PR, GO 5.63%,
07/01/2027
|
6,117,151
|
|
|
|
Puerto Rico Sales Tax Financing Corp., PR, Rev
|
|
|
|
8,851,000
|
0.00%, 07/01/2027(5)
|
8,371,938
|
|
|
3,119,000
|
0.00%, 07/01/2029(5)
|
2,757,311
|
|
|
625,000
|
5.00%, 07/01/2058
|
607,025
|
|
|
|
|
|
17,853,425
|
|
|
Rhode Island - 2.2%
|
||
|
|
City of Pawtucket, RI, GO,
|
|
|
|
500,000
|
(AG) 5.00%, 11/01/2040
|
549,455
|
|
|
625,000
|
(AG) 5.00%, 11/01/2041
|
681,613
|
|
|
|
28
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Rhode Island - 2.2% - (continued)
|
||
|
$ 500,000
|
(AG) 5.00%, 11/01/2042
|
$539,577
|
|
|
|
Providence Public Building Auth, RI, Rev,
|
|
|
|
1,000,000
|
(AG) 5.00%, 09/15/2037
|
1,120,779
|
|
|
665,000
|
(AG) 5.00%, 09/15/2038
|
739,026
|
|
|
|
Rhode Island Health & Educational Building
Corp., RI, Rev,
|
|
|
|
1,250,000
|
(BAM), (ST AID WITHHLDG) 5.00%,
05/15/2032
|
1,417,708
|
|
|
585,000
|
(BAM), (ST AID WITHHLDG) 5.00%,
05/15/2034
|
674,429
|
|
|
670,000
|
(AG) 5.00%, 07/01/2038
|
725,750
|
|
|
215,000
|
(AG) 5.63%, 07/01/2065
|
223,233
|
|
|
|
Rhode Island Student Loan Auth, RI, Rev
|
|
|
|
400,000
|
5.00%, 12/01/2027
|
412,683
|
|
|
765,000
|
5.00%, 12/01/2028
|
801,064
|
|
|
950,000
|
5.00%, 12/01/2029
|
1,004,096
|
|
|
465,000
|
5.00%, 12/01/2031
|
498,485
|
|
|
1,750,000
|
5.00%, 12/01/2032
|
1,886,296
|
|
|
1,800,000
|
5.00%, 12/01/2033
|
1,943,423
|
|
|
|
|
|
13,217,617
|
|
|
South Carolina - 1.4%
|
||
|
785,000
|
Patriots Energy Group Financing Agency, SC,
Rev 5.25%, 02/01/2054(1)
|
853,782
|
|
|
410,000
|
SCAGO Educational Facs Corp. for Pickens
School Dist, SC, Rev 5.00%, 12/01/2029
|
411,028
|
|
|
|
South Carolina Jobs-Economic Dev Auth, SC,
Rev
|
|
|
|
945,000
|
4.00%, 12/01/2030(3)
|
945,141
|
|
|
1,500,000
|
5.00%, 11/01/2036
|
1,686,649
|
|
|
345,000
|
5.00%, 11/01/2037
|
384,566
|
|
|
|
South Carolina Public Service Auth, SC, Rev
|
|
|
|
500,000
|
4.00%, 12/01/2034
|
512,680
|
|
|
625,000
|
4.00%, 12/01/2038
|
628,626
|
|
|
|
South Carolina State Housing Finance & Dev
Auth, SC, Rev
|
|
|
|
1,100,000
|
5.75%, 01/01/2054
|
1,190,120
|
|
|
1,430,000
|
(FHLMC), (FNMA), (GNMA) 6.50%,
07/01/2055
|
1,632,984
|
|
|
|
|
|
8,245,576
|
|
|
South Dakota - 1.2%
|
||
|
2,215,000
|
South Dakota Health & Educational Facs Auth,
SD, Rev 5.00%, 11/01/2052(1)
|
2,375,059
|
|
|
|
South Dakota Housing Dev Auth, SD, Rev
|
|
|
|
285,000
|
4.50%, 11/01/2048
|
287,199
|
|
|
260,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
05/01/2054
|
275,418
|
|
|
3,835,000
|
(FHLMC), (FNMA), (GNMA) 6.25%,
05/01/2056
|
4,379,986
|
|
|
|
|
|
7,317,662
|
|
|
Tennessee - 0.2%
|
||
|
|
Metropolitan Government Nashville & Davidson
County Health & Educational Facs Board, TN,
Rev
|
|
|
|
515,000
|
5.00%, 05/01/2035
|
574,244
|
|
|
195,000
|
5.00%, 05/01/2038
|
213,436
|
|
|
590,000
|
Tennessee Energy Acquisition Corp., TN, Rev
5.00%, 02/01/2027
|
599,692
|
|
|
45,000
|
Tennessee Housing Dev Agency, TN, Rev 4.00%,
01/01/2049
|
45,116
|
|
|
|
|
|
1,432,488
|
|
|
Texas - 12.7%
|
||
|
1,380,000
|
Allen Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2035
|
1,590,823
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Texas - 12.7% - (continued)
|
||
|
$ 805,000
|
Arlington Higher Education Finance Corp., TX,
Rev, (PSF-GTD) 5.00%, 08/15/2040
|
$866,338
|
|
|
160,000
|
Austin-Bergstrom Landhost Enterprises, Inc., TX,
Rev 5.00%, 10/01/2029
|
164,489
|
|
|
|
Boerne Independent School Dist, TX, GO,
|
|
|
|
1,045,000
|
(PSF-GTD) 3.13%, 02/01/2053(1)
|
1,045,510
|
|
|
225,000
|
(PSF-GTD) 4.00%, 02/01/2054(1)
|
230,987
|
|
|
|
Brazos Higher Education Auth, Inc., TX, Rev
|
|
|
|
2,500,000
|
5.00%, 04/01/2031
|
2,673,907
|
|
|
1,300,000
|
5.00%, 04/01/2033
|
1,398,010
|
|
|
2,000,000
|
5.00%, 04/01/2034
|
2,157,300
|
|
|
|
Central Texas Regional Mobility Auth, TX, Rev
|
|
|
|
1,425,000
|
4.00%, 01/01/2035
|
1,474,589
|
|
|
505,000
|
4.00%, 01/01/2036
|
519,394
|
|
|
1,490,000
|
5.00%, 01/01/2046
|
1,531,854
|
|
|
|
City of Austin Airport System, TX, Rev
|
|
|
|
1,025,000
|
5.00%, 11/15/2032
|
1,146,326
|
|
|
500,000
|
5.00%, 11/15/2039
|
535,542
|
|
|
|
City of Dallas Hotel Occupancy Tax, TX, Rev
|
|
|
|
1,535,000
|
4.00%, 08/15/2033
|
1,541,712
|
|
|
100,000
|
4.00%, 08/15/2034
|
100,374
|
|
|
535,000
|
City of Dallas, TX, GO 5.00%, 02/15/2028
|
551,055
|
|
|
|
City of Garland Electric Utility System, TX, Rev,
|
|
|
|
1,000,000
|
(AG) 5.00%, 03/01/2029
|
1,071,709
|
|
|
1,000,000
|
(AG) 5.00%, 03/01/2030
|
1,091,959
|
|
|
|
City of San Antonio Electric & Gas Systems, TX,
Rev
|
|
|
|
555,000
|
1.75%, 02/01/2049(1)
|
554,190
|
|
|
2,010,000
|
3.08%, 02/01/2055(1)(3)
|
2,008,448
|
|
|
245,000
|
5.00%, 02/01/2039
|
274,050
|
|
|
|
Clifton Higher Education Finance Corp., TX, Rev,
|
|
|
|
425,000
|
(PSF-GTD) 5.00%, 04/01/2035
|
477,789
|
|
|
350,000
|
(PSF-GTD) 5.00%, 04/01/2036
|
389,252
|
|
|
975,000
|
(PSF-GTD) 5.00%, 08/15/2036
|
1,072,075
|
|
|
400,000
|
County of Fort Bend Toll Road, TX, Rev, (AG)
5.00%, 03/01/2034
|
461,123
|
|
|
|
Crowley Independent School Dist, TX, GO,
|
|
|
|
400,000
|
(PSF-GTD) 5.00%, 02/01/2030
|
437,119
|
|
|
450,000
|
(PSF-GTD) 5.00%, 02/01/2031
|
500,638
|
|
|
400,000
|
(PSF-GTD) 5.00%, 02/01/2032
|
452,578
|
|
|
|
Dallas Fort Worth International Airport, TX, Rev
|
|
|
|
1,500,000
|
5.00%, 11/01/2031
|
1,655,514
|
|
|
6,500,000
|
5.00%, 11/01/2032
|
7,253,994
|
|
|
1,000,000
|
East Montgomery County Improvement Dist
Sales Tax, TX, Rev, (AG) 5.00%, 08/15/2035
|
1,135,358
|
|
|
1,735,000
|
El Paso County Hospital Dist, TX, GO, (AG)
5.00%, 02/15/2035
|
1,985,002
|
|
|
1,350,000
|
Fort Bend Independent School Dist, TX, GO,
(PSF-GTD) 3.80%, 08/01/2055(1)
|
1,377,785
|
|
|
450,000
|
Harris County Industrial Dev Corp., TX, Rev
4.05%, 11/01/2050(1)
|
465,732
|
|
|
|
Harris County-Houston Sports Auth, TX, Rev,
|
|
|
|
1,510,000
|
(AG) 5.00%, 11/15/2032
|
1,691,467
|
|
|
1,780,000
|
(AG) 5.00%, 11/15/2033
|
2,010,631
|
|
|
400,000
|
Hidalgo County Regional Mobility Auth, TX, Rev
5.00%, 12/01/2030
|
428,314
|
|
|
825,000
|
Hutto Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 08/01/2036
|
932,110
|
|
|
800,000
|
Leander Independent School Dist, TX, GO,
(PSF-GTD) 0.00%, 08/15/2027(5)
|
760,048
|
|
|
|
Lower Colorado River Auth, TX, Rev,
|
|
|
|
1,665,000
|
(AG) 5.00%, 05/15/2035
|
1,863,099
|
|
|
835,000
|
(AG) 5.00%, 05/15/2044
|
886,238
|
|
|
|
New Hope Cultural Education Facs Finance
Corp., TX, Rev
|
|
|
|
675,000
|
4.25%, 10/01/2030
|
677,113
|
|
|
550,000
|
5.00%, 11/01/2046
|
442,147
|
|
|
|
29
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Texas - 12.7% - (continued)
|
||
|
$ 1,410,000
|
North East Texas Regional Mobility Auth, TX, Rev
5.00%, 01/01/2037
|
$1,580,733
|
|
|
|
Northside Independent School Dist, TX, GO,
|
|
|
|
1,250,000
|
(PSF-GTD) 2.00%, 06/01/2052(1)
|
1,229,689
|
|
|
2,500,000
|
(PSF-GTD) 3.55%, 06/01/2050(1)
|
2,522,176
|
|
|
|
Northwest Independent School Dist, TX, GO,
|
|
|
|
1,420,000
|
(PSF-GTD) 5.00%, 02/15/2040
|
1,578,965
|
|
|
475,000
|
(PSF-GTD) 5.00%, 02/15/2041
|
522,818
|
|
|
2,000,000
|
San Antonio Water System, TX, Rev 1.00%,
05/01/2043(1)
|
1,950,694
|
|
|
500,000
|
Southwest Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/01/2036
|
553,598
|
|
|
5,900,000
|
State of Texas, TX, GO 3.45%, 12/01/2050(1)
|
5,900,000
|
|
|
|
Texas Department of Housing & Community
Affairs, TX, Rev,
|
|
|
|
1,250,000
|
(GNMA) 2.25%, 07/01/2041
|
951,504
|
|
|
2,125,000
|
(GNMA) 3.00%, 03/01/2050
|
1,653,215
|
|
|
1,430,000
|
(GNMA) 3.63%, 09/01/2044
|
1,305,645
|
|
|
5,900,000
|
Texas Municipal Gas Acquisition & Supply Corp.
V, TX, Rev 5.00%, 01/01/2055(1)
|
6,493,923
|
|
|
500,000
|
Texas Public Finance Auth, TX, Rev 4.00%,
02/01/2034
|
514,526
|
|
|
200,000
|
Texas Transportation Commission State Highway
249 System, TX, Rev 0.00%, 08/01/2038(5)
|
113,418
|
|
|
|
Uptown Dev Auth, TX, Tax Allocation
|
|
|
|
220,000
|
4.00%, 09/01/2032
|
221,393
|
|
|
250,000
|
4.00%, 09/01/2035
|
242,774
|
|
|
|
|
|
77,218,763
|
|
|
Utah - 1.5%
|
||
|
590,000
|
County of Salt Lake, UT, Rev, (AMBAC) 5.13%,
02/15/2033
|
596,029
|
|
|
|
Downtown Revitalization Public Infrastructure
Dist, UT, Rev,
|
|
|
|
1,000,000
|
(AG) 5.00%, 06/01/2035
|
1,154,168
|
|
|
1,000,000
|
(AG) 5.00%, 06/01/2036
|
1,151,247
|
|
|
500,000
|
Mida Cormont Public Infrastructure Dist, UT, GO
0.00%, 06/01/2055(2)(4)
|
422,653
|
|
|
|
Mida Mountain Village Public Infrastructure Dist,
UT, Tax Allocation
|
|
|
|
2,930,000
|
5.13%, 06/15/2054(2)
|
2,912,811
|
|
|
3,000,000
|
6.00%, 06/15/2054(2)
|
3,087,855
|
|
|
|
|
|
9,324,763
|
|
|
Virginia - 2.1%
|
||
|
1,325,000
|
Arlington County Industrial Dev Auth, VA, Rev
5.00%, 07/01/2053(1)
|
1,436,826
|
|
|
5,160,000
|
County of Fairfax, VA, GO, (ST AID WITHHLDG)
5.00%, 10/01/2026
|
5,271,808
|
|
|
750,000
|
Henrico County Economic Dev Auth, VA, Rev
5.00%, 10/01/2047
|
760,430
|
|
|
620,000
|
Virginia Beach Dev Auth, VA, Rev 5.38%,
09/01/2029
|
624,757
|
|
|
|
Virginia Small Business Financing Auth, VA, Rev
|
|
|
|
1,000,000
|
4.00%, 01/01/2033
|
1,021,102
|
|
|
1,100,000
|
4.00%, 07/01/2034
|
1,115,664
|
|
|
1,000,000
|
4.00%, 01/01/2036
|
1,002,078
|
|
|
835,000
|
5.00%, 07/01/2035
|
891,861
|
|
|
350,000
|
5.00%, 12/31/2047
|
351,238
|
|
|
|
|
|
12,475,764
|
|
|
Washington - 3.3%
|
||
|
185,000
|
King County Housing Auth, WA, Rev 5.38%,
07/01/2045
|
194,611
|
|
|
5,180,000
|
Port of Seattle, WA, GO 5.00%, 01/01/2033
|
5,316,452
|
|
|
|
Port of Seattle, WA, Rev
|
|
|
|
1,600,000
|
5.25%, 07/01/2039
|
1,789,380
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 98.5% - (continued)
|
|||
|
|
Washington - 3.3% - (continued)
|
||
|
$ 595,000
|
5.25%, 07/01/2041
|
$652,210
|
|
|
|
Washington Health Care Facs Auth, WA, Rev
|
|
|
|
1,500,000
|
4.00%, 08/01/2044
|
1,353,166
|
|
|
2,040,000
|
5.00%, 09/01/2037
|
2,292,155
|
|
|
1,200,000
|
5.00%, 09/01/2038
|
1,337,864
|
|
|
1,500,000
|
5.00%, 09/01/2039
|
1,657,570
|
|
|
1,725,000
|
5.00%, 10/01/2042
|
1,725,547
|
|
|
|
Washington State Housing Finance Commission,
WA, Rev
|
|
|
|
500,000
|
5.00%, 01/01/2031(2)
|
504,660
|
|
|
3,105,000
|
(BAM) 5.00%, 07/01/2045(2)
|
3,161,381
|
|
|
|
|
|
19,984,996
|
|
|
West Virginia - 0.1%
|
||
|
690,000
|
West Virginia Economic Dev Auth, WV, Rev
4.63%, 04/15/2055(1)
|
701,015
|
|
|
|
Wisconsin - 3.4%
|
||
|
|
Public Finance Auth, WI, Rev
|
|
|
|
505,000
|
4.00%, 10/01/2041
|
479,275
|
|
|
835,000
|
4.00%, 10/01/2046(1)
|
855,114
|
|
|
170,000
|
(AG) 4.00%, 07/01/2050
|
154,919
|
|
|
1,500,000
|
5.00%, 06/01/2031
|
1,648,421
|
|
|
625,000
|
5.00%, 06/01/2032
|
694,340
|
|
|
1,000,000
|
(AG) 5.00%, 07/01/2036
|
1,033,354
|
|
|
510,000
|
5.00%, 12/15/2039(2)
|
511,160
|
|
|
750,000
|
5.00%, 10/01/2043(2)
|
744,964
|
|
|
465,000
|
5.00%, 10/01/2044
|
472,432
|
|
|
400,000
|
5.00%, 12/15/2044(2)
|
378,524
|
|
|
1,285,000
|
5.25%, 11/15/2061
|
1,296,729
|
|
|
750,000
|
5.50%, 06/15/2055
|
770,432
|
|
|
1,640,000
|
6.50%, 06/30/2060
|
1,807,744
|
|
|
|
University of Wisconsin Hospitals & Clinics, WI,
Rev
|
|
|
|
310,000
|
4.00%, 04/01/2035
|
320,569
|
|
|
220,000
|
4.00%, 04/01/2039
|
221,649
|
|
|
650,000
|
5.00%, 04/01/2037
|
735,477
|
|
|
265,000
|
5.00%, 04/01/2038
|
297,869
|
|
|
120,000
|
Wisconsin Center Dist, WI, Rev, (AG) 0.00%,
12/15/2029(5)
|
105,701
|
|
|
|
Wisconsin Health & Educational Facs Auth, WI,
Rev
|
|
|
|
1,000,000
|
5.00%, 08/15/2035
|
1,139,763
|
|
|
1,500,000
|
5.00%, 08/15/2036
|
1,687,026
|
|
|
840,000
|
5.00%, 11/01/2039
|
843,247
|
|
|
680,000
|
5.75%, 08/15/2059
|
697,258
|
|
|
|
Wisconsin Housing & Economic Dev Auth Home
Ownership, WI, Rev,
|
|
|
|
875,000
|
(FHLMC), (FNMA), (GNMA) 5.50%,
09/01/2031
|
990,110
|
|
|
1,495,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
09/01/2054
|
1,616,194
|
|
|
910,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
03/01/2055
|
985,916
|
|
|
|
|
|
20,488,187
|
|
|
Wyoming - 0.0%
|
||
|
275,000
|
Wyoming Community Dev Auth, WY, Rev 6.00%,
12/01/2054
|
298,227
|
|
|
|
Total Municipal Bonds
(cost $592,153,060)
|
|
$598,016,253
|
|
|
30
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 0.2%
|
|||
|
|
Mortgage-Backed Agencies - 0.2%
|
||
|
|
Federal Home Loan Mortgage Corp. - 0.2%
|
||
|
$ 1,125,000
|
3.15%, 10/15/2036
|
$1,005,915
|
|
|
|
Total U.S. Government Agencies
(cost $1,142,771)
|
|
$1,005,915
|
|
|
Total Long-Term Investments
(cost $593,295,831)
|
|
$599,022,168
|
|
SHORT-TERM INVESTMENTS - 0.7%
|
|||
|
|
Repurchase Agreements - 0.7%
|
||
|
4,383,426
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 10/31/2025 at 4.15%, due
on 11/03/2025 with a maturity value of
$4,384,942; collateralized by U.S. Treasury
Note at 4.63%, maturing 02/15/2035, with a
market value of $4,471,114
|
$4,383,426
|
|
|
|
Total Short-Term Investments
(cost $4,383,426)
|
$4,383,426
|
|
|
|
Total Investments
(cost $597,679,257)
|
99.4
%
|
$603,405,594
|
|
|
Other Assets and Liabilities
|
0.6
%
|
3,744,609
|
|
|
Net Assets
|
100.0
%
|
$607,150,203
|
|
(1)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. 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 the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(2)
|
Security was purchased pursuant to Rule 144A under the Securities Act of 1933
and may be sold in transactions that are exempt from registration (typically only
to
qualified institutional buyers) or in a public offering registered under the Securities
Act of 1933. At October 31, 2025, the aggregate value of these securities was
$23,741,932, representing 3.9% of net assets.
|
|
(3)
|
This security, or a portion of this security, was purchased on a when-issued,
delayed-delivery or delayed-draw basis. The cost of these securities was
$19,791,686 at October 31, 2025.
|
|
(4)
|
Security is a “step-up” bond where coupon increases or steps up at a
predetermined date. Rate shown is current coupon rate.
|
|
(5)
|
Security is a zero-coupon bond.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Municipal Bonds
|
$598,016,253
|
$—
|
$598,016,253
|
$—
|
|
U.S. Government Agencies
|
1,005,915
|
—
|
1,005,915
|
—
|
|
Short-Term Investments
|
4,383,426
|
—
|
4,383,426
|
—
|
|
Total
|
$603,405,594
|
$—
|
$603,405,594
|
$—
|
|
(1)
|
For the period ended October 31, 2025, there were no transfers in and out of Level
3.
|
|
|
31
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 98.2%
|
|||
|
|
Automobiles & Components - 1.2%
|
||
|
97,726
|
Gentex Corp.
|
$2,291,675
|
|
|
|
Banks - 10.0%
|
||
|
115,926
|
Bank of America Corp.
|
6,196,245
|
|
|
51,197
|
Bank of Nova Scotia
|
3,358,523
|
|
|
6,342
|
JP Morgan Chase & Co.
|
1,973,123
|
|
|
67,650
|
Truist Financial Corp.
|
3,019,219
|
|
|
43,078
|
Wells Fargo & Co.
|
3,746,494
|
|
|
|
|
|
18,293,604
|
|
|
Capital Goods - 9.1%
|
||
|
3,841
|
General Dynamics Corp.
|
1,324,761
|
|
|
7,250
|
Hubbell, Inc.
|
3,407,500
|
|
|
7,975
|
Lockheed Martin Corp.
|
3,922,743
|
|
|
10,119
|
Masco Corp.
|
655,306
|
|
|
27,203
|
Otis Worldwide Corp.
|
2,523,350
|
|
|
11,144
|
Vertiv Holdings Co. Class A
|
2,149,232
|
|
|
13,534
|
Westinghouse Air Brake Technologies Corp.
|
2,766,891
|
|
|
|
|
|
16,749,783
|
|
|
Consumer Discretionary Distribution & Retail - 2.6%
|
||
|
14,787
|
Lowe's Cos., Inc.
|
3,521,228
|
|
|
8,706
|
TJX Cos., Inc.
|
1,220,059
|
|
|
|
|
|
4,741,287
|
|
|
Consumer Services - 1.3%
|
||
|
10,871
|
Expedia Group, Inc.
|
2,391,620
|
|
|
|
Consumer Staples Distribution & Retail - 1.3%
|
||
|
32,639
|
Sysco Corp.
|
2,424,425
|
|
|
|
Energy - 6.5%
|
||
|
18,894
|
ConocoPhillips
|
1,678,921
|
|
|
123,944
|
Coterra Energy, Inc.
|
2,932,515
|
|
|
42,024
|
EQT Corp.
|
2,251,646
|
|
|
16,903
|
TotalEnergies SE ADR
|
1,052,043
|
|
|
68,768
|
Williams Cos., Inc.
|
3,979,604
|
|
|
|
|
|
11,894,729
|
|
|
Equity Real Estate Investment Trusts (REITs) - 4.2%
|
||
|
3,454
|
American Tower Corp. REIT
|
618,197
|
|
|
6,924
|
AvalonBay Communities, Inc. REIT
|
1,204,222
|
|
|
5,351
|
Public Storage REIT
|
1,490,575
|
|
|
24,865
|
Simon Property Group, Inc. REIT
|
4,370,272
|
|
|
|
|
|
7,683,266
|
|
|
Financial Services - 5.9%
|
||
|
3,566
|
American Express Co.
|
1,286,363
|
|
|
23,129
|
Intercontinental Exchange, Inc.
|
3,383,542
|
|
|
16,716
|
Morgan Stanley
|
2,741,424
|
|
|
9,810
|
Visa, Inc. Class A
|
3,342,659
|
|
|
|
|
|
10,753,988
|
|
|
Food, Beverage & Tobacco - 2.2%
|
||
|
28,519
|
Philip Morris International, Inc.
|
4,116,147
|
|
|
|
Health Care Equipment & Services - 3.5%
|
||
|
6,853
|
Elevance Health, Inc.
|
2,173,772
|
|
|
7,566
|
Labcorp Holdings, Inc.
|
1,921,461
|
|
|
6,638
|
UnitedHealth Group, Inc.
|
2,267,275
|
|
|
|
|
|
6,362,508
|
|
|
Household & Personal Products - 2.0%
|
||
|
62,066
|
Unilever PLC ADR
|
3,735,753
|
|
|
|
Insurance - 4.3%
|
||
|
37,574
|
American International Group, Inc.
|
2,966,843
|
|
|
17,684
|
Marsh & McLennan Cos., Inc.
|
3,150,405
|
|
|
22,461
|
MetLife, Inc.
|
1,792,837
|
|
|
|
|
|
7,910,085
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 98.2% - (continued)
|
|||
|
|
Materials - 2.9%
|
||
|
346,308
|
Amcor PLC
|
$2,735,833
|
|
|
45,374
|
BHP Group Ltd. ADR(1)
|
2,588,587
|
|
|
|
|
|
5,324,420
|
|
|
Media & Entertainment - 8.5%
|
||
|
37,729
|
Alphabet, Inc. Class A
|
10,609,017
|
|
|
36,313
|
Omnicom Group, Inc.
|
2,724,201
|
|
|
20,909
|
Walt Disney Co.
|
2,354,772
|
|
|
|
|
|
15,687,990
|
|
|
Pharmaceuticals, Biotechnology & Life Sciences - 8.1%
|
||
|
29,287
|
AstraZeneca PLC ADR
|
2,413,249
|
|
|
33,326
|
Gilead Sciences, Inc.
|
3,992,121
|
|
|
197,970
|
Haleon PLC ADR
|
1,835,182
|
|
|
41,499
|
Merck & Co., Inc.
|
3,568,084
|
|
|
123,627
|
Pfizer, Inc.
|
3,047,406
|
|
|
|
|
|
14,856,042
|
|
|
Semiconductors & Semiconductor Equipment - 6.2%
|
||
|
10,711
|
Micron Technology, Inc.
|
2,396,800
|
|
|
18,313
|
NXP Semiconductors NV
|
3,829,615
|
|
|
28,600
|
QUALCOMM, Inc.
|
5,173,740
|
|
|
|
|
|
11,400,155
|
|
|
Software & Services - 2.9%
|
||
|
33,731
|
Cognizant Technology Solutions Corp. Class A
|
2,458,315
|
|
|
2,823
|
Microsoft Corp.
|
1,461,778
|
|
|
3,181
|
Roper Technologies, Inc.
|
1,419,203
|
|
|
|
|
|
5,339,296
|
|
|
Technology Hardware & Equipment - 5.8%
|
||
|
66,110
|
Cisco Systems, Inc.
|
4,833,302
|
|
|
19,532
|
Dell Technologies, Inc. Class C
|
3,164,379
|
|
|
17,460
|
TD SYNNEX Corp.
|
2,732,316
|
|
|
|
|
|
10,729,997
|
|
|
Transportation - 2.2%
|
||
|
43,483
|
Delta Air Lines, Inc.
|
2,495,055
|
|
|
33,952
|
Knight-Swift Transportation Holdings, Inc.
|
1,531,914
|
|
|
|
|
|
4,026,969
|
|
|
Utilities - 7.5%
|
||
|
19,833
|
American Electric Power Co., Inc.
|
2,385,116
|
|
|
19,804
|
Atmos Energy Corp.
|
3,400,743
|
|
|
26,182
|
Duke Energy Corp.
|
3,254,423
|
|
|
50,962
|
Sempra
|
4,685,446
|
|
|
|
|
|
13,725,728
|
|
|
Total Common Stocks
(cost $155,072,140)
|
|
$180,439,467
|
|
SHORT-TERM INVESTMENTS - 1.0%
|
|||
|
|
Securities Lending Collateral - 1.0%
|
||
|
1,939,725
|
State Street Navigator Securities Lending
Government Money Market Portfolio, 4.00%(2)
|
$1,939,725
|
|
|
|
Total Short-Term Investments
(cost $1,939,725)
|
$1,939,725
|
|
|
|
Total Investments
(cost $157,011,865)
|
99.2
%
|
$182,379,192
|
|
|
Other Assets and Liabilities
|
0.8
%
|
1,450,660
|
|
|
Net Assets
|
100.0
%
|
$183,829,852
|
|
|
32
|
|
|
(1)
|
Represents entire or partial securities on loan.
|
|
(2)
|
Current yield as of period end.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Common Stocks
|
$180,439,467
|
$180,439,467
|
$—
|
$—
|
|
Short-Term Investments
|
1,939,725
|
1,939,725
|
—
|
—
|
|
Total
|
$182,379,192
|
$182,379,192
|
$—
|
$—
|
|
(1)
|
For the period ended October 31, 2025, there were no transfers in and out of Level
3.
|
|
|
33
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 87.3%
|
|||
|
|
Alabama - 4.4%
|
||
|
$ 4,475,000
|
Alabama Housing Finance Auth, AL, Rev,
(FHLMC), (FNMA), (GNMA) 5.50%,
04/01/2056(1)
|
$4,865,374
|
|
|
|
Black Belt Energy Gas Dist, AL, Rev
|
|
|
|
2,680,000
|
4.00%, 06/01/2051(2)
|
2,768,738
|
|
|
685,000
|
5.25%, 12/01/2053(2)
|
743,723
|
|
|
635,000
|
Energy Southeast A Cooperative Dist, AL, Rev
5.25%, 07/01/2054(2)
|
697,309
|
|
|
4,505,000
|
Southeast Energy Auth A Cooperative Dist, AL,
Rev 5.00%, 05/01/2055(2)
|
4,849,156
|
|
|
715,000
|
Town of Pike Road, AL, GO 5.00%, 03/01/2052
|
738,555
|
|
|
|
|
|
14,662,855
|
|
|
Arizona - 0.1%
|
||
|
435,000
|
Industrial Dev Auth of the City of Tucson, AZ,
Rev, (FNMA) 4.63%, 06/01/2044
|
436,419
|
|
|
|
Arkansas - 2.2%
|
||
|
|
Arkansas Dev Finance Auth, AR, Rev,
|
|
|
|
3,230,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
07/01/2054
|
3,378,295
|
|
|
970,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
01/01/2055
|
1,022,221
|
|
|
2,530,000
|
(FHLMC), (FNMA), (GNMA) 5.50%,
01/01/2056
|
2,756,652
|
|
|
|
|
|
7,157,168
|
|
|
California - 1.3%
|
||
|
210,000
|
California Community Choice Financing Auth,
CA, Rev 5.00%, 02/01/2054(2)
|
226,717
|
|
|
2,330,000
|
California Infrastructure & Economic Dev Bank,
CA, Rev 5.25%, 07/01/2054
|
2,377,904
|
|
|
1,245,000
|
Golden State Tobacco Securitization Corp., CA,
Rev, (ST APPROP) 3.00%, 06/01/2046
|
1,120,813
|
|
|
450,000
|
Pittsburg Unified School Dist, CA, GO, (AG)
4.25%, 08/01/2049
|
441,099
|
|
|
70,000
|
Washington Township Health Care Dist, CA,
GO, (AG) 4.50%, 08/01/2053
|
70,307
|
|
|
|
|
|
4,236,840
|
|
|
Colorado - 1.7%
|
||
|
575,000
|
City & County of Denver Airport System, CO,
Rev 5.25%, 11/15/2053
|
605,235
|
|
|
3,050,000
|
City & County of Denver, CO, Rev, (FNMA)
4.70%, 10/01/2042
|
3,235,097
|
|
|
535,000
|
City of Colorado Springs Utilities System, CO,
Rev 4.00%, 11/15/2051
|
506,166
|
|
|
1,225,000
|
Colorado Educational & Cultural Facs Auth, CO,
Rev, (BAM) 4.25%, 07/01/2054
|
1,105,324
|
|
|
255,000
|
Colorado Housing & Finance Auth, CO, Rev,
(FHLMC), (FNMA), (GNMA) 3.50%,
05/01/2050
|
253,896
|
|
|
|
|
|
5,705,718
|
|
|
Connecticut - 0.4%
|
||
|
65,000
|
Connecticut Housing Finance Auth, CT, Rev,
(FHLMC), (FNMA), (GNMA) 4.25%,
05/15/2042
|
65,339
|
|
|
1,145,000
|
Waterbury Housing Auth, CT, Rev, (HUD),
(FHLMC) 4.50%, 02/01/2042
|
1,185,472
|
|
|
|
|
|
1,250,811
|
|
|
District of Columbia - 1.3%
|
||
|
2,000,000
|
Dist of Columbia Housing Finance Agency, DC,
Rev, (FNMA) 4.88%, 09/01/2045
|
2,108,680
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 87.3% - (continued)
|
|||
|
|
District of Columbia - 1.3% - (continued)
|
||
|
$ 2,090,000
|
Dist of Columbia Water & Sewer Auth, DC, Rev
4.00%, 10/01/2047
|
$1,989,503
|
|
|
340,000
|
Metropolitan Washington Airports Auth, Dulles
Toll Road, DC, Rev 5.00%, 10/01/2034
|
361,013
|
|
|
|
|
|
4,459,196
|
|
|
Florida - 2.7%
|
||
|
280,000
|
City of Cape Coral Water & Sewer, FL, Rev,
(BAM) 5.25%, 10/01/2053
|
297,549
|
|
|
2,745,000
|
County of Broward Convention Center Hotel,
FL, Rev 4.00%, 01/01/2051
|
2,606,313
|
|
|
410,000
|
Florida Dev Finance Corp., FL, Rev 5.25%,
08/01/2055
|
421,797
|
|
|
|
Florida Housing Finance Corp., FL, Rev,
|
|
|
|
35,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
07/01/2051
|
34,549
|
|
|
565,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
07/01/2052
|
555,603
|
|
|
235,000
|
(FHLMC), (FNMA), (GNMA) 3.50%,
07/01/2051
|
233,955
|
|
|
75,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
07/01/2049
|
75,101
|
|
|
1,865,000
|
Miami-Dade County Housing Finance Auth, FL,
Rev, (FNMA), (HUD) 4.88%, 03/01/2046
|
1,872,478
|
|
|
2,675,000
|
Orange County Health Facs Auth, FL, Rev
5.25%, 10/01/2056
|
2,811,969
|
|
|
|
|
|
8,909,314
|
|
|
Georgia - 5.8%
|
||
|
|
Main Street Natural Gas, Inc., GA, Rev
|
|
|
|
485,000
|
4.00%, 05/01/2052(2)
|
494,818
|
|
|
1,525,000
|
5.00%, 12/01/2053(2)
|
1,642,254
|
|
|
615,000
|
5.00%, 05/01/2054(2)
|
665,028
|
|
|
5,535,000
|
5.00%, 05/01/2055(2)
|
6,011,019
|
|
|
1,165,000
|
5.00%, 06/01/2055(2)
|
1,275,939
|
|
|
3,835,000
|
Municipal Electric Auth of Georgia, GA, Rev,
(BAM) 5.25%, 01/01/2054
|
4,027,864
|
|
|
4,960,000
|
Valdosta & Lowndes County Hospital Auth, GA,
Rev 5.00%, 10/01/2054
|
5,185,197
|
|
|
|
|
|
19,302,119
|
|
|
Hawaii - 0.7%
|
||
|
2,145,000
|
State of Hawaii Airports System, HI, Rev
5.00%, 07/01/2049
|
2,294,210
|
|
|
|
Idaho - 0.9%
|
||
|
3,225,000
|
Idaho Housing & Finance Association, ID, Rev
4.00%, 08/15/2050
|
3,074,475
|
|
|
|
Illinois - 1.2%
|
||
|
1,940,000
|
Chicago O'Hare International Airport, IL, Rev
5.50%, 01/01/2059
|
2,084,481
|
|
|
|
Illinois Housing Dev Auth, IL, Rev,
|
|
|
|
300,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
10/01/2051
|
294,564
|
|
|
440,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
10/01/2049
|
441,416
|
|
|
35,000
|
(FHLMC), (FNMA), (GNMA) 4.50%,
10/01/2048
|
35,342
|
|
|
1,255,000
|
Metropolitan Pier & Exposition Auth, IL, Rev
5.00%, 06/15/2053
|
1,250,432
|
|
|
|
|
|
4,106,235
|
|
|
34
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 87.3% - (continued)
|
|||
|
|
Indiana - 0.8%
|
||
|
$ 1,305,000
|
Indiana Finance Auth, IN, Rev 5.50%,
10/01/2055
|
$1,406,671
|
|
|
|
Indiana Housing & Community Dev Auth, IN,
Rev,
|
|
|
|
585,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
07/01/2050
|
576,203
|
|
|
35,000
|
(GNMA) 4.00%, 07/01/2048
|
35,078
|
|
|
705,000
|
Indianapolis Local Public Improvement Bond
Bank, IN, Rev 5.00%, 01/01/2053
|
724,768
|
|
|
|
|
|
2,742,720
|
|
|
Iowa - 0.3%
|
||
|
|
Iowa Finance Auth, IA, Rev,
|
|
|
|
655,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
01/01/2047
|
644,248
|
|
|
165,000
|
(FHLMC), (FNMA), (GNMA) 3.25%,
07/01/2050
|
163,484
|
|
|
20,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
07/01/2048
|
20,041
|
|
|
|
|
|
827,773
|
|
|
Kentucky - 2.2%
|
||
|
|
Kentucky Public Energy Auth, KY, Rev
|
|
|
|
2,510,000
|
5.00%, 01/01/2055(2)
|
2,726,446
|
|
|
2,285,000
|
5.25%, 04/01/2054(2)
|
2,519,478
|
|
|
1,955,000
|
5.25%, 06/01/2055(2)
|
2,089,642
|
|
|
|
|
|
7,335,566
|
|
|
Louisiana - 0.8%
|
||
|
5,000
|
Louisiana Housing Corp., LA, Rev 4.50%,
12/01/2047
|
5,035
|
|
|
1,385,000
|
Louisiana Local Government Environmental
Facs & Community Dev Auth, LA, Rev 2.50%,
04/01/2036
|
1,180,731
|
|
|
1,255,000
|
Louisiana Stadium & Exposition Dist, LA, Rev
5.25%, 07/01/2053
|
1,304,407
|
|
|
|
|
|
2,490,173
|
|
|
Maryland - 0.8%
|
||
|
2,650,000
|
Maryland Community Dev Administration, MD,
Rev, (FNMA) 4.35%, 02/01/2044
|
2,618,126
|
|
|
|
Massachusetts - 0.0%
|
||
|
120,000
|
Commonwealth of Massachusetts, MA, GO
3.00%, 02/01/2048
|
92,817
|
|
|
|
Michigan - 1.3%
|
||
|
700,000
|
Cedar Springs Public School Dist, MI, GO,
(Q-SBLF) 4.50%, 05/01/2049
|
700,938
|
|
|
770,000
|
Ferndale Public Schools, MI, GO, (Q-SBLF)
5.00%, 05/01/2053
|
805,988
|
|
|
1,500,000
|
Fraser Public School Dist, MI, GO, (Q-SBLF)
5.00%, 05/01/2048
|
1,564,874
|
|
|
|
Grosse Ile Township School Dist, MI, GO,
|
|
|
|
540,000
|
(Q-SBLF) 5.00%, 05/01/2049
|
562,813
|
|
|
625,000
|
(Q-SBLF) 5.00%, 05/01/2052
|
648,527
|
|
|
35,000
|
Michigan State Housing Dev Auth, MI, Rev
3.75%, 06/01/2050
|
34,985
|
|
|
|
|
|
4,318,125
|
|
|
Mississippi - 0.5%
|
||
|
|
Mississippi Home Corp., MS, Rev,
|
|
|
|
140,000
|
(FHLMC), (FNMA), (GNMA) 3.25%,
12/01/2050
|
138,778
|
|
|
1,595,000
|
(FNMA), (HUD) 4.55%, 04/01/2042
|
1,644,063
|
|
|
|
|
|
1,782,841
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 87.3% - (continued)
|
|||
|
|
Missouri - 1.7%
|
||
|
|
Missouri Housing Dev Commission, MO, Rev,
|
|
|
|
$ 465,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
05/01/2052
|
$457,751
|
|
|
285,000
|
(FHLMC), (FNMA), (GNMA) 3.25%,
05/01/2051
|
282,228
|
|
|
110,000
|
(FHLMC), (FNMA), (GNMA) 3.50%,
11/01/2050
|
109,509
|
|
|
145,000
|
(FHLMC), (FNMA), (GNMA) 3.88%,
05/01/2050
|
145,245
|
|
|
55,000
|
(FHLMC), (FNMA), (GNMA) 4.25%,
05/01/2049
|
55,350
|
|
|
45,000
|
(FHLMC), (FNMA), (GNMA) 4.75%,
05/01/2049
|
45,550
|
|
|
2,345,000
|
Missouri Joint Municipal Electric Utility
Commission, MO, Rev 5.25%, 01/01/2056(1)
|
2,483,168
|
|
|
385,000
|
St. Charles County Francis Howell R-III School
Dist, MO, GO 2.00%, 03/01/2037
|
312,113
|
|
|
1,571,613
|
St. Charles County Industrial Dev Auth, MO,
Rev, (FNMA), (HUD) 4.65%, 04/01/2043
|
1,626,966
|
|
|
|
|
|
5,517,880
|
|
|
Nevada - 0.5%
|
||
|
|
Nevada Housing Division, NV, Rev,
|
|
|
|
570,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
04/01/2049
|
571,931
|
|
|
50,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
10/01/2049
|
50,172
|
|
|
950,000
|
Reno-Tahoe Airport Auth, NV, Rev 5.25%,
07/01/2054
|
1,001,772
|
|
|
|
|
|
1,623,875
|
|
|
New Jersey - 0.5%
|
||
|
1,715,000
|
New Jersey Housing & Mortgage Finance
Agency, NJ, Rev, (FNMA) 4.55%, 05/01/2041
|
1,800,831
|
|
|
|
New Mexico - 4.8%
|
||
|
|
New Mexico Mortgage Finance Auth, NM, Rev,
|
|
|
|
520,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
01/01/2051
|
511,423
|
|
|
1,310,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
01/01/2052
|
1,287,183
|
|
|
665,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
01/01/2050
|
667,371
|
|
|
1,630,000
|
(FHLMC), (FNMA), (GNMA) 4.25%,
03/01/2053
|
1,661,017
|
|
|
7,965,000
|
(FHLMC), (FNMA), (GNMA) 5.50%,
09/01/2055
|
8,612,598
|
|
|
2,975,000
|
New Mexico Municipal Energy Acquisition Auth,
NM, Rev 5.00%, 06/01/2054(2)
|
3,193,180
|
|
|
|
|
|
15,932,772
|
|
|
New York - 4.8%
|
||
|
1,130,000
|
City of New York, NY, GO 4.00%, 04/01/2050
|
1,043,157
|
|
|
1,500,000
|
New York City Municipal Water Finance Auth,
NY, Rev 4.00%, 06/15/2054
|
1,384,836
|
|
|
225,000
|
New York City Transitional Finance Auth, Future
Tax Secured, NY, Rev 4.38%, 05/01/2053
|
221,735
|
|
|
2,000,000
|
New York Power Auth, NY, Rev 4.00%,
11/15/2054
|
1,809,095
|
|
|
|
New York State Dormitory Auth, NY, Rev
|
|
|
|
950,000
|
3.00%, 03/15/2038
|
875,644
|
|
|
5,000,000
|
4.00%, 05/01/2054
|
4,468,638
|
|
|
2,630,000
|
New York State Housing Finance Agency, NY,
Rev, (FHLMC) 3.57%, 05/01/2042(2)
|
2,670,200
|
|
|
|
Triborough Bridge & Tunnel Auth Sales Tax, NY,
Rev
|
|
|
|
1,560,000
|
5.00%, 05/15/2053
|
1,618,672
|
|
|
|
35
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 87.3% - (continued)
|
|||
|
|
New York - 4.8% - (continued)
|
||
|
$ 1,365,000
|
5.25%, 05/15/2064
|
$1,441,622
|
|
|
605,000
|
Triborough Bridge & Tunnel Auth, NY, Rev
4.50%, 05/15/2052
|
606,723
|
|
|
|
|
|
16,140,322
|
|
|
North Carolina - 1.5%
|
||
|
3,145,000
|
City of Charlotte Storm Water, NC, Rev 4.00%,
12/01/2054
|
3,067,375
|
|
|
|
Raleigh Housing Auth, NC, Rev
|
|
|
|
120,000
|
4.40%, 12/01/2043
|
120,787
|
|
|
1,680,000
|
(FNMA) 4.50%, 02/01/2043
|
1,710,393
|
|
|
|
|
|
4,898,555
|
|
|
Ohio - 2.2%
|
||
|
880,000
|
Columbus-Franklin County Finance Auth, OH,
Rev, (FNMA) 4.82%, 11/01/2043
|
938,509
|
|
|
3,015,000
|
Fairborn City School Dist, OH, GO 5.25%,
12/01/2053
|
3,172,439
|
|
|
|
Ohio Housing Finance Agency, OH, Rev,
|
|
|
|
670,000
|
(FHLMC), (FNMA), (GNMA) 3.25%,
03/01/2050
|
664,005
|
|
|
20,000
|
(FHLMC), (FNMA), (GNMA) 4.50%,
09/01/2048
|
20,163
|
|
|
415,000
|
(FNMA), (HUD) 4.55%, 04/01/2041
|
433,866
|
|
|
295,000
|
Ohio Turnpike & Infrastructure Commission, OH,
Rev 0.00%, 02/15/2041(3)
|
159,803
|
|
|
1,840,000
|
Pickerington Local School Dist, OH, GO 5.00%,
12/01/2053
|
1,901,861
|
|
|
|
|
|
7,290,646
|
|
|
Oregon - 1.5%
|
||
|
5,000,000
|
Astoria Hospital Facs Auth, OR, Rev 5.25%,
08/01/2054
|
5,041,680
|
|
|
|
Pennsylvania - 1.4%
|
||
|
600,000
|
Allegheny County Airport Auth, PA, Rev, (AG)
5.25%, 01/01/2053
|
630,506
|
|
|
145,000
|
Allegheny County Sanitary Auth, PA, Rev
5.00%, 06/01/2053
|
151,139
|
|
|
3,700,000
|
Philadelphia Gas Works Co., PA, Rev, (AG)
5.25%, 08/01/2054
|
3,901,619
|
|
|
|
|
|
4,683,264
|
|
|
Rhode Island - 0.4%
|
||
|
|
Rhode Island Health & Educational Building
Corp., RI, Rev,
|
|
|
|
875,000
|
(ST AID WITHHLDG) 4.13%, 05/15/2054
|
833,668
|
|
|
630,000
|
5.25%, 05/15/2054
|
639,354
|
|
|
|
|
|
1,473,022
|
|
|
South Carolina - 2.9%
|
||
|
2,500,000
|
Inman Campobello Water Dist, SC, Rev, (BAM)
5.00%, 06/01/2048
|
2,603,844
|
|
|
3,135,000
|
Patriots Energy Group Financing Agency, SC,
Rev 5.25%, 10/01/2054(2)
|
3,419,936
|
|
|
2,160,000
|
South Carolina Jobs-Economic Dev Auth, SC,
Rev 5.25%, 11/01/2054
|
2,296,017
|
|
|
475,000
|
South Carolina Public Service Auth, SC, Rev,
(AG) 5.00%, 12/01/2055
|
495,715
|
|
|
870,000
|
South Carolina State Housing Finance & Dev
Auth, SC, Rev, (FNMA) 4.80%, 05/01/2043
|
925,013
|
|
|
45,000
|
Tobacco Settlement Management Auth, SC, Rev
6.38%, 05/15/2030
|
51,187
|
|
|
|
|
|
9,791,712
|
|
|
Tennessee - 2.7%
|
||
|
960,000
|
Chattanooga Health Educational & Housing
Facility Board, TN, Rev 5.25%, 12/01/2054
|
999,778
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 87.3% - (continued)
|
|||
|
|
Tennessee - 2.7% - (continued)
|
||
|
$ 2,735,000
|
Cleveland Health & Educational Facs Board,
TN, Rev 5.25%, 08/15/2054
|
$2,901,862
|
|
|
515,000
|
County of Putnam, TN, GO 2.00%, 04/01/2037
|
422,516
|
|
|
425,000
|
Knox County Health Educational & Housing
Facility Board, TN, Rev, (FNMA) 4.63%,
12/01/2043
|
436,302
|
|
|
|
Metropolitan Government Nashville & Davidson
County Health & Educational Facs Board,
TN, Rev,
|
|
|
|
1,805,000
|
(FNMA) 4.60%, 12/01/2044
|
1,844,422
|
|
|
10,000
|
(NPFG) 4.88%, 11/01/2028
|
10,299
|
|
|
|
Metropolitan Nashville Airport Auth, TN, Rev
|
|
|
|
350,000
|
5.00%, 07/01/2049
|
359,199
|
|
|
305,000
|
5.00%, 07/01/2052
|
314,329
|
|
|
1,795,000
|
Tennergy Corp., TN, Rev 4.00%, 12/01/2051(2)
|
1,832,874
|
|
|
30,000
|
Tennessee Housing Dev Agency, TN, Rev
4.50%, 07/01/2049
|
30,278
|
|
|
|
|
|
9,151,859
|
|
|
Texas - 23.8%
|
||
|
415,000
|
Alvarado Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2052
|
389,896
|
|
|
|
Arlington Higher Education Finance Corp., TX,
Rev,
|
|
|
|
2,000,000
|
(PSF-GTD) 4.13%, 08/15/2054
|
1,850,735
|
|
|
700,000
|
(PSF-GTD) 4.25%, 12/01/2048
|
673,043
|
|
|
200,000
|
(PSF-GTD) 4.25%, 12/01/2053
|
188,786
|
|
|
680,000
|
(PSF-GTD) 5.00%, 08/15/2033
|
726,763
|
|
|
200,000
|
(PSF-GTD) 5.00%, 08/15/2048
|
208,993
|
|
|
1,840,000
|
Azle Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2054
|
1,704,671
|
|
|
|
Bexar County Hospital Dist, TX, GO
|
|
|
|
635,000
|
4.25%, 02/15/2052
|
603,620
|
|
|
1,405,000
|
4.25%, 02/15/2053
|
1,330,647
|
|
|
1,235,000
|
Bullard Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2052
|
1,151,166
|
|
|
1,290,000
|
Chapel Hill Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2048
|
1,356,086
|
|
|
755,000
|
City of Dallas Housing Finance Corp., TX, Rev
4.63%, 10/01/2043
|
780,232
|
|
|
390,000
|
City of Georgetown Utility System, TX, Rev,
(BAM) 5.25%, 08/15/2053
|
409,353
|
|
|
790,000
|
Cleburne Independent School Dist, TX, GO,
(PSF-GTD) 3.00%, 02/15/2046
|
626,492
|
|
|
|
Clifton Higher Education Finance Corp., TX,
Rev,
|
|
|
|
545,000
|
(PSF-GTD) 4.25%, 04/01/2053
|
516,973
|
|
|
765,000
|
(PSF-GTD) 4.25%, 08/15/2053
|
742,496
|
|
|
765,000
|
College of the Mainland, TX, GO 4.00%,
08/15/2049
|
719,888
|
|
|
1,190,000
|
Columbia-Brazoria Independent School Dist,
TX, GO, (PSF-GTD) 4.00%, 02/01/2053
|
1,107,758
|
|
|
250,000
|
Community Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2053
|
259,720
|
|
|
5,000,000
|
County of Harris Toll Road, TX, Rev 5.25%,
08/15/2054
|
5,352,885
|
|
|
505,000
|
County of Harris, TX, GO 5.00%, 10/01/2038
|
520,926
|
|
|
4,635,000
|
Crowley Independent School Dist, TX, GO,
(PSF-GTD) 4.25%, 02/01/2054
|
4,479,702
|
|
|
825,000
|
Dallas Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2053
|
770,362
|
|
|
375,000
|
Donna Independent School Dist, TX, GO,
(PSF-GTD) 4.13%, 02/15/2053
|
356,410
|
|
|
1,135,000
|
Forney Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 08/15/2053
|
1,051,419
|
|
|
|
36
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 87.3% - (continued)
|
|||
|
|
Texas - 23.8% - (continued)
|
||
|
$ 380,000
|
Fort Worth Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2048
|
$358,018
|
|
|
|
Georgetown Independent School Dist, TX, GO,
|
|
|
|
690,000
|
(PSF-GTD) 2.50%, 08/15/2037
|
605,641
|
|
|
970,000
|
(PSF-GTD) 5.00%, 02/15/2054
|
1,012,722
|
|
|
1,535,000
|
Humble Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2054
|
1,419,780
|
|
|
6,605,000
|
Judson Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/01/2053
|
6,946,353
|
|
|
1,085,000
|
Katy Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2053
|
1,014,775
|
|
|
930,000
|
Kaufman Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2054
|
966,370
|
|
|
|
Lamar Consolidated Independent School Dist,
TX, GO,
|
|
|
|
365,000
|
(PSF-GTD) 3.00%, 02/15/2051
|
275,728
|
|
|
1,090,000
|
(PSF-GTD) 4.00%, 02/15/2048
|
1,006,960
|
|
|
590,000
|
Lockhart Independent School Dist, TX, GO,
(PSF-GTD) 4.13%, 08/01/2053
|
559,184
|
|
|
|
McGregor Independent School Dist, TX, GO,
|
|
|
|
1,565,000
|
(PSF-GTD) 5.00%, 02/15/2049
|
1,641,057
|
|
|
4,720,000
|
(PSF-GTD) 5.00%, 02/15/2054
|
4,924,546
|
|
|
115,000
|
Montgomery Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2053
|
106,524
|
|
|
580,000
|
Navarro Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2054
|
537,342
|
|
|
4,210,000
|
New Caney Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2054
|
3,887,631
|
|
|
20,000
|
Newark Higher Education Finance Corp., TX,
Rev, (PSF-GTD) 5.00%, 08/15/2052
|
20,537
|
|
|
990,000
|
Northside Independent School Dist, TX, GO,
(PSF-GTD) 4.13%, 08/15/2053
|
933,675
|
|
|
1,250,000
|
Pewitt Consolidated Independent School Dist,
TX, GO, (PSF-GTD) 4.00%, 02/15/2053
|
1,161,595
|
|
|
575,000
|
Prosper Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2053
|
530,064
|
|
|
185,000
|
Sabine-Neches Navigation Dist, TX, GO 5.25%,
02/15/2052
|
192,667
|
|
|
1,750,000
|
Sherman Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2053
|
1,822,476
|
|
|
655,000
|
Splendora Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2054
|
681,297
|
|
|
805,000
|
Temple Independent School Dist, TX, GO,
(PSF-GTD) 4.25%, 02/01/2047
|
798,981
|
|
|
|
Texas Department of Housing & Community
Affairs, TX, Rev,
|
|
|
|
480,000
|
(GNMA) 3.00%, 01/01/2052
|
471,203
|
|
|
215,000
|
(GNMA) 3.50%, 03/01/2051
|
213,785
|
|
|
70,000
|
(GNMA) 4.00%, 03/01/2050
|
70,491
|
|
|
35,000
|
(GNMA) 4.75%, 03/01/2049
|
35,364
|
|
|
3,760,000
|
(GNMA) 5.75%, 01/01/2056
|
4,150,572
|
|
|
6,120,000
|
Texas Municipal Gas Acquisition & Supply Corp.
V, TX, Rev 5.00%, 01/01/2055(2)
|
6,736,069
|
|
|
5,000,000
|
Texas State University System, TX, Rev 5.25%,
03/15/2054
|
5,291,736
|
|
|
2,065,000
|
Texas Transportation Commission State
Highway 249 System, TX, Rev 5.25%,
10/01/2055
|
2,210,405
|
|
|
285,000
|
Texas Water Dev Board, TX, Rev 4.80%,
10/15/2052
|
290,278
|
|
|
440,000
|
White Settlement Independent School Dist, TX,
GO, (PSF-GTD) 4.13%, 08/15/2052
|
419,396
|
|
|
|
|
|
79,172,244
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 87.3% - (continued)
|
|||
|
|
Utah - 3.6%
|
||
|
$ 5,705,000
|
County of Iron Sales Tax, UT, Rev 5.00%,
10/01/2059
|
$5,926,454
|
|
|
5,920,000
|
Timpanogos Special Service Dist, UT, Rev
5.00%, 06/01/2054
|
6,202,813
|
|
|
|
|
|
12,129,267
|
|
|
Virginia - 4.8%
|
||
|
|
FHLMC Multifamily VRD Certificates, VA, Rev
|
|
|
|
8,537,256
|
4.10%, 11/25/2042(2)
|
8,429,080
|
|
|
6,916,389
|
(FHLMC) 4.76%, 08/25/2041
|
7,130,349
|
|
|
365,000
|
Hampton Roads Transportation Accountability
Commission, VA, Rev 4.00%, 07/01/2052
|
342,679
|
|
|
|
|
|
15,902,108
|
|
|
Washington - 0.2%
|
||
|
455,000
|
King County Public Hospital Dist No. 2, WA, GO
5.25%, 12/01/2045
|
485,153
|
|
|
75,000
|
Washington State Housing Finance
Commission, WA, Rev 4.00%, 12/01/2048
|
75,200
|
|
|
|
|
|
560,353
|
|
|
Wisconsin - 0.6%
|
||
|
1,880,000
|
Public Finance Auth, WI, Rev, (FHLMC) 4.10%,
09/25/2039
|
1,893,302
|
|
|
|
Wyoming - 0.0%
|
||
|
35,000
|
Wyoming Community Dev Auth, WY, Rev 4.00%,
06/01/2043
|
35,082
|
|
|
|
Total Municipal Bonds
(cost $292,727,088)
|
|
$290,842,275
|
|
U.S. GOVERNMENT AGENCIES - 4.0%
|
|||
|
|
Mortgage-Backed Agencies - 4.0%
|
||
|
|
Federal Home Loan Mortgage Corp. - 4.0%
|
||
|
4,140,989
|
4.05%, 08/01/2040
|
$4,060,686
|
|
|
9,180,707
|
4.56%, 04/25/2042(2)(4)
|
9,332,016
|
|
|
|
Total U.S. Government Agencies
(cost $13,379,070)
|
|
$13,392,702
|
|
|
Total Long-Term Investments
(cost $306,106,158)
|
|
$304,234,977
|
|
SHORT-TERM INVESTMENTS - 7.5%
|
|||
|
|
U.S. Treasury Securities - 7.5%
|
||
|
|
U.S. Treasury Bills - 7.5%
|
||
|
18,567,000
|
3.65%, 04/16/2026(5)
|
$18,253,539
|
|
|
6,606,000
|
3.76%, 02/19/2026(5)
|
6,531,855
|
|
|
|
Total Short-Term Investments
(cost $24,787,595)
|
$24,785,394
|
|
|
|
Total Investments
(cost $330,893,753)
|
98.8
%
|
$329,020,371
|
|
|
Other Assets and Liabilities
|
1.2
%
|
4,074,262
|
|
|
Net Assets
|
100.0
%
|
$333,094,633
|
|
|
37
|
|
|
(1)
|
This security, or a portion of this security, was purchased on a when-issued,
delayed-delivery or delayed-draw basis. The cost of these securities was
$7,328,199 at October 31, 2025.
|
|
(2)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. 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 the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(3)
|
Security is a zero-coupon bond.
|
|
(4)
|
Security was purchased pursuant to Rule 144A under the Securities Act of 1933
and may be sold in transactions that are exempt from registration (typically only
to
qualified institutional buyers) or in a public offering registered under the Securities
Act of 1933. At October 31, 2025, the aggregate value of this security was
$9,332,016, representing 2.8% of net assets.
|
|
(5)
|
The rate shown represents current yield to maturity.
|
|
Futures Contracts Outstanding at October 31, 2025
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Short position contracts:
|
||||
|
U.S. Treasury Ultra Bond Future
|
(17)
|
12/19/2025
|
$(2,061,781
)
|
$(4,755
)
|
|
Total futures contracts
|
$(4,755
)
|
|||
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Municipal Bonds
|
$290,842,275
|
$—
|
$290,842,275
|
$—
|
|
U.S. Government Agencies
|
13,392,702
|
—
|
13,392,702
|
—
|
|
Short-Term Investments
|
24,785,394
|
—
|
24,785,394
|
—
|
|
Total
|
$329,020,371
|
$—
|
$329,020,371
|
$—
|
|
Liabilities
|
|
|
|
|
|
Futures Contracts(2)
|
$(4,755
)
|
$(4,755
)
|
$—
|
$—
|
|
Total
|
$(4,755
)
|
$(4,755
)
|
$—
|
$—
|
|
(1)
|
For the period ended October 31, 2025, there were no transfers in and out of Level
3.
|
|
(2)
|
Derivative instruments (excluding purchased and written options, if applicable) are
valued at the unrealized appreciation/(depreciation) on the investments.
|
|
|
38
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.0%
|
|||
|
|
Asset-Backed - Automobile - 3.2%
|
||
|
$ 990,493
|
Ally Auto Receivables Trust 3.45%,
06/15/2027
|
$989,291
|
|
|
671,696
|
Ally Bank Auto Credit-Linked Notes
6.94%, 06/15/2033(1)
|
671,559
|
|
|
1,130,000
|
AmeriCredit Automobile Receivables Trust
5.57%, 03/20/2028
|
1,139,644
|
|
|
463,007
|
Avid Automobile Receivables Trust 7.80%,
07/15/2032(2)
|
463,008
|
|
|
|
Avis Budget Rental Car Funding
AESOP LLC
|
|
|
|
100,000
|
7.32%, 02/20/2028(1)
|
100,787
|
|
|
100,000
|
7.35%, 04/20/2028(1)
|
101,374
|
|
|
190,000
|
Bridgecrest Lending Auto Securitization
Trust 4.72%, 09/15/2028
|
190,401
|
|
|
630,000
|
Enterprise Fleet Financing LLC 5.06%,
03/20/2031(1)
|
642,988
|
|
|
1,145,000
|
Exeter Automobile Receivables Trust
4.67%, 08/15/2028
|
1,146,646
|
|
|
180,000
|
Exeter Select Automobile Receivables
Trust 6.87%, 02/15/2033(1)
|
175,758
|
|
|
205,000
|
GM Financial Consumer Automobile
Receivables Trust 4.73%, 08/16/2030
|
208,727
|
|
|
260,000
|
Hertz Vehicle Financing III LLC 9.13%,
06/25/2027(1)
|
262,928
|
|
|
250,000
|
Hertz Vehicle Financing LLC 5.16%,
06/26/2028(1)
|
244,148
|
|
|
150,000
|
Prestige Auto Receivables Trust 6.75%,
11/17/2031(1)
|
146,691
|
|
|
572,937
|
Santander Bank Auto Credit-Linked Notes
10.17%, 06/15/2032(1)
|
582,687
|
|
|
51,001
|
Securitized Term Auto Receivables Trust
6.75%, 07/25/2031(1)
|
51,865
|
|
|
585,000
|
SFS Auto Receivables Securitization Trust
5.33%, 11/20/2029(1)
|
590,941
|
|
|
504,725
|
Wheels Fleet Lease Funding 1 LLC
4.80%, 09/19/2039(1)
|
509,156
|
|
|
|
|
|
8,218,599
|
|
|
Asset-Backed - Home Equity - 0.1%
|
||
|
250,000
|
Point Securitization Trust 7.00%,
09/25/2055(1)(3)
|
249,816
|
|
|
|
Commercial Mortgage-Backed Securities - 4.7%
|
||
|
130,000
|
280 Park Avenue Mortgage Trust 6.50%,
09/15/2034, 1 mo. USD Term SOFR +
2.42%(1)(4)
|
126,750
|
|
|
95,000
|
ALA Trust 7.12%, 06/15/2040, 1 mo. USD
Term SOFR + 3.09%(1)(4)
|
95,533
|
|
|
605,000
|
ARZ Trust 8.27%, 06/11/2039(1)
|
623,740
|
|
|
640,000
|
BAMLL Commercial Mortgage Securities
Trust 3.72%, 11/05/2032(1)(4)
|
566,424
|
|
|
100,000
|
BOCA Commercial Mortgage Trust 8.47%,
08/15/2041, 1 mo. USD Term SOFR +
4.44%(1)(4)
|
101,125
|
|
|
|
BPR Trust
|
|
|
|
30,000
|
5.85%, 11/05/2041(1)(4)
|
28,524
|
|
|
90,000
|
8.34%, 10/05/2038(1)(4)
|
93,604
|
|
|
630,000
|
BX Trust 7.29%, 10/15/2036, 1 mo. USD
Term SOFR + 3.26%(1)(4)
|
629,217
|
|
|
75,000
|
Citigroup Commercial Mortgage Trust
3.00%, 11/15/2049(1)
|
61,878
|
|
|
|
Commercial Mortgage Trust
|
|
|
|
26,447
|
4.42%, 08/10/2047(1)(4)
|
25,786
|
|
|
314,000
|
7.93%, 12/10/2041(1)(4)
|
312,420
|
|
|
60,000
|
CSAIL Commercial Mortgage Trust
4.06%, 08/15/2048(4)
|
52,846
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.0% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 4.7% - (continued)
|
||
|
|
DC Trust
|
|
|
|
$ 200,000
|
8.48%, 04/13/2040(1)(4)
|
$199,878
|
|
|
85,000
|
10.31%, 04/13/2040(1)(4)
|
85,098
|
|
|
100,000
|
Extended Stay America Trust 8.25%,
10/15/2042, 1 mo. USD Term SOFR +
4.10%(1)(4)
|
100,938
|
|
|
215,000
|
GS Mortgage Securities Corp. II 7.29%,
03/10/2041(1)(4)
|
219,469
|
|
|
119,258
|
GS Mortgage Securities Corp. Trust
2.95%, 11/05/2034(1)
|
103,331
|
|
|
|
GS Mortgage Securities Trust
|
|
|
|
550,260
|
2.75%, 05/10/2049(1)
|
494,973
|
|
|
52,661
|
4.42%, 02/10/2048(1)(4)
|
50,286
|
|
|
103,452
|
HIH Trust 8.22%, 10/15/2041, 1 mo. USD
Term SOFR + 4.19%(1)(4)
|
103,969
|
|
|
|
HTL Commercial Mortgage Trust
|
|
|
|
255,000
|
8.20%, 05/10/2039(1)(4)
|
260,996
|
|
|
745,000
|
10.26%, 05/10/2039(1)(4)
|
770,174
|
|
|
100,000
|
11.93%, 05/10/2039(1)(4)
|
103,370
|
|
|
|
JP Morgan Chase Commercial Mortgage
Securities Trust
|
|
|
|
800,000
|
3.57%, 12/15/2047(1)(4)
|
739,488
|
|
|
322,662
|
4.88%, 12/15/2046(1)(4)
|
306,548
|
|
|
|
JPMBB Commercial Mortgage Securities
Trust
|
|
|
|
205,000
|
3.78%, 10/15/2048(1)(4)
|
184,549
|
|
|
275,000
|
4.04%, 09/15/2047(1)(4)
|
248,713
|
|
|
240,000
|
4.12%, 11/15/2047(4)
|
230,848
|
|
|
610,000
|
4.51%, 09/15/2047(4)
|
571,887
|
|
|
285,000
|
MAD Commercial Mortgage Trust 6.36%,
10/15/2042(1)(4)
|
285,198
|
|
|
800,000
|
Morgan Stanley Bank of America Merrill
Lynch Trust 3.80%, 05/15/2046(1)(4)
|
728,458
|
|
|
125,000
|
Morgan Stanley Capital I Trust 3.91%,
09/09/2032(1)
|
112,514
|
|
|
270,000
|
NYC Commercial Mortgage Trust 7.57%,
02/15/2042, 1 mo. USD Term SOFR +
3.54%(1)(4)
|
269,685
|
|
|
750,000
|
RFR Trust 7.27%, 03/11/2041(1)(4)
|
767,439
|
|
|
685,000
|
ROCK Trust 8.82%, 11/13/2041(1)
|
722,874
|
|
|
140,000
|
TEXAS Commercial Mortgage Trust
7.12%, 04/15/2042, 1 mo. USD Term
SOFR + 3.09%(1)(4)
|
140,000
|
|
|
625,000
|
Wells Fargo Commercial Mortgage Trust
4.43%, 10/15/2049(4)
|
581,534
|
|
|
195,000
|
Willowbrook Mall 6.08%, 03/05/2035(1)(4)
|
182,429
|
|
|
325,000
|
Worldwide Plaza Trust 3.53%,
11/10/2036(1)
|
240,588
|
|
|
|
X-Caliber Funding LLC
|
|
|
|
560,000
|
7.11%, 06/17/2030, 1 mo. USD Term
SOFR + 2.97%(1)(4)
|
562,073
|
|
|
100,000
|
8.38%, 01/15/2028, 1 mo. USD Term
SOFR + 4.25%(1)(4)
|
99,886
|
|
|
|
|
|
12,185,040
|
|
|
Other Asset-Backed Securities - 3.3%
|
||
|
|
Affirm Asset Securitization Trust
|
|
|
|
850,000
|
7.35%, 09/15/2029(1)
|
854,471
|
|
|
850,000
|
9.17%, 02/15/2029(1)
|
855,104
|
|
|
150,000
|
AGL CLO 16 Ltd. 8.53%, 01/20/2035,
3 mo. USD Term SOFR + 4.65%(1)(4)
|
139,899
|
|
|
100,000
|
AMSR Trust 3.66%, 06/17/2042(1)
|
88,486
|
|
|
305,000
|
Apidos CLO LIII Ltd. 10.31%, 07/20/2038,
3 mo. USD Term SOFR + 6.43%(1)(4)
|
312,293
|
|
|
345,000
|
Ballyrock CLO 29 Ltd. 4.22%,
07/25/2038(1)(4)
|
306,177
|
|
|
|
39
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.0% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 3.3% - (continued)
|
||
|
$ 305,000
|
Battalion CLO XV Ltd. 7.13%, 01/17/2033,
3 mo. USD Term SOFR + 3.25%(1)(4)
|
$294,552
|
|
|
430,000
|
Carlyle Global Market Strategies CLO Ltd.
10.13%, 04/20/2034, 3 mo. USD Term
SOFR + 6.25%(1)(4)
|
417,155
|
|
|
525,000
|
Carlyle U.S. CLO Ltd. 11.44%,
07/20/2037, 3 mo. USD Term SOFR +
7.56%(1)(4)
|
533,377
|
|
|
152,035
|
ECAF I Ltd. 4.95%, 06/15/2040(1)
|
138,739
|
|
|
24,875
|
HINNT LLC 8.00%, 03/15/2043(1)
|
23,955
|
|
|
|
Home RE Ltd.
|
|
|
|
129,812
|
8.78%, 10/25/2033, 30 day USD SOFR
Average + 4.60%(1)(4)
|
132,948
|
|
|
136,817
|
9.68%, 10/25/2034, 30 day USD SOFR
Average + 5.50%(1)(4)
|
141,684
|
|
|
244,048
|
Horizon Aircraft Finance III Ltd. 4.46%,
11/15/2039(1)
|
221,183
|
|
|
1,792,000
|
Kubota Credit Owner Trust 5.19%,
05/15/2030(1)
|
1,838,850
|
|
|
250,000
|
OCP CLO Ltd. 8.28%, 07/20/2037, 3 mo.
USD Term SOFR + 4.40%(1)(4)
|
251,157
|
|
|
270,000
|
Palmer Square CLO Ltd. 10.82%,
04/18/2037, 3 mo. USD Term SOFR +
6.94%(1)(4)
|
270,035
|
|
|
135,000
|
PEAC Solutions Receivables LLC 5.04%,
07/20/2032(1)
|
137,383
|
|
|
510,000
|
Rad CLO 12 Ltd. 10.49%, 07/30/2040,
3 mo. USD Term SOFR + 6.65%(1)(4)
|
508,722
|
|
|
505,000
|
Southwick Park CLO LLC 10.13%,
07/20/2032, 3 mo. USD Term SOFR +
6.25%(1)(4)
|
501,223
|
|
|
100,000
|
Tricon Residential Trust 4.13%,
07/17/2038(1)
|
98,629
|
|
|
25,000
|
VB-S1 Issuer LLC 8.87%, 05/15/2054(1)
|
25,931
|
|
|
290,000
|
Whetstone Park CLO Ltd. 10.30%,
01/20/2035, 3 mo. USD Term SOFR +
6.41%(1)(4)
|
284,270
|
|
|
|
|
|
8,376,223
|
|
|
Whole Loan Collateral CMO - 5.7%
|
||
|
50,000
|
Angel Oak Mortgage Trust 2.48%,
05/25/2066(1)(4)
|
37,969
|
|
|
435,000
|
CSMC Trust 4.46%, 05/25/2065(1)(4)
|
408,825
|
|
|
|
Federal National Mortgage Association
Connecticut Avenue Securities Trust
|
|
|
|
15,000
|
8.08%, 07/25/2043, 30 day USD SOFR
Average + 3.90%(1)(4)
|
15,824
|
|
|
1,180,000
|
10.18%, 10/25/2041, 30 day USD
SOFR Average + 6.00%(1)(4)
|
1,226,468
|
|
|
630,000
|
10.18%, 12/25/2041, 30 day USD
SOFR Average + 6.00%(1)(4)
|
659,503
|
|
|
560,000
|
10.38%, 11/25/2041, 30 day USD
SOFR Average + 6.20%(1)(4)
|
584,345
|
|
|
1,139,000
|
11.18%, 04/25/2042, 30 day USD
SOFR Average + 7.00%(1)(4)
|
1,224,459
|
|
|
1,100,000
|
13.68%, 03/25/2042, 30 day USD
SOFR Average + 9.50%(1)(4)
|
1,211,208
|
|
|
1,000,000
|
14.03%, 03/25/2042, 30 day USD
SOFR Average + 9.85%(1)(4)
|
1,106,709
|
|
|
575,000
|
14.78%, 05/25/2042, 30 day USD
SOFR Average + 10.60%(1)(4)
|
648,997
|
|
|
24,355
|
16.05%, 08/25/2028, 30 day USD
SOFR Average + 11.86%(4)
|
25,105
|
|
|
594,214
|
16.18%, 06/25/2042, 30 day USD
SOFR Average + 12.00%(1)(4)
|
687,525
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.0% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 5.7% - (continued)
|
||
|
$ 100,000
|
Imperial Fund Mortgage Trust 4.10%,
01/25/2057(1)(4)
|
$81,140
|
|
|
|
PRET LLC
|
|
|
|
390,000
|
6.90%, 11/25/2055(1)(3)
|
389,550
|
|
|
150,000
|
7.02%, 10/25/2055(1)(3)
|
149,877
|
|
|
320,000
|
7.26%, 10/25/2055(1)(3)
|
319,757
|
|
|
240,000
|
7.51%, 08/25/2055(1)(3)
|
240,551
|
|
|
155,000
|
7.99%, 08/25/2055(1)(3)
|
155,461
|
|
|
160,000
|
8.23%, 03/25/2055(1)(3)
|
160,500
|
|
|
165,000
|
8.35%, 07/25/2055(1)(3)
|
165,478
|
|
|
100,000
|
8.59%, 12/25/2054(1)(3)
|
100,180
|
|
|
265,000
|
8.72%, 10/25/2054(1)(3)
|
265,118
|
|
|
145,000
|
8.72%, 05/25/2055(1)(3)
|
145,992
|
|
|
175,000
|
8.96%, 10/25/2054(1)(3)
|
175,116
|
|
|
218,868
|
8.97%, 09/25/2051(1)(3)
|
218,858
|
|
|
298,000
|
PRET Trust 4.15%, 01/25/2070(1)(3)
|
259,773
|
|
|
|
PRPM LLC
|
|
|
|
255,000
|
3.00%, 05/25/2055(1)(3)
|
226,235
|
|
|
1,100,000
|
7.20%, 10/25/2030(1)(3)
|
1,099,617
|
|
|
100,000
|
7.45%, 08/25/2030(1)(3)
|
100,019
|
|
|
145,000
|
8.47%, 04/25/2030(1)(3)
|
144,983
|
|
|
100,000
|
8.60%, 11/25/2029(1)(3)
|
100,026
|
|
|
100,000
|
8.84%, 11/25/2029(1)(3)
|
100,050
|
|
|
605,000
|
9.56%, 05/25/2030(1)(3)
|
606,512
|
|
|
430,000
|
RCO IX Mortgage LLC 9.13%,
04/25/2030(1)(3)
|
431,620
|
|
|
100,000
|
RCO VIII Mortgage LLC 8.84%,
05/25/2030(1)(3)
|
100,363
|
|
|
135,000
|
Verus Securitization Trust 3.04%,
09/25/2066(1)(4)
|
100,147
|
|
|
443,324
|
VOLT CII LLC 8.21%, 08/25/2051(1)(3)
|
443,121
|
|
|
105,447
|
VOLT CV LLC 5.32%, 11/27/2051(1)(3)
|
104,373
|
|
|
289,023
|
VOLT CVI LLC 5.44%, 12/26/2051(1)(3)
|
288,555
|
|
|
|
|
|
14,509,909
|
|
|
Total Asset-Backed & Commercial
Mortgage-Backed Securities
(cost $43,227,877)
|
$43,539,587
|
|
|
CONVERTIBLE BONDS - 6.5%
|
|||
|
|
Auto Manufacturers - 0.1%
|
||
|
|
Rivian Automotive, Inc.
|
|
|
|
280,000
|
3.63%, 10/15/2030
|
$239,575
|
|
|
39,000
|
4.63%, 03/15/2029
|
38,415
|
|
|
|
|
|
277,990
|
|
|
Biotechnology - 0.6%
|
||
|
165,000
|
Alnylam Pharmaceuticals, Inc. 0.00%,
09/15/2028(1)(5)
|
164,794
|
|
|
145,000
|
BioMarin Pharmaceutical, Inc. 1.25%,
05/15/2027
|
138,026
|
|
|
145,000
|
Bridgebio Pharma, Inc. 1.75%,
03/01/2031(1)
|
219,041
|
|
|
210,000
|
Cytokinetics, Inc. 3.50%, 07/01/2027
|
297,150
|
|
|
179,000
|
Immunocore Holdings PLC 2.50%,
02/01/2030
|
157,448
|
|
|
337,000
|
Ionis Pharmaceuticals, Inc. 1.75%,
06/15/2028
|
512,880
|
|
|
|
|
|
1,489,339
|
|
|
Chemicals - 0.3%
|
||
|
800,000
|
Sasol Financing USA LLC 4.50%,
11/08/2027(6)
|
768,000
|
|
|
|
40
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CONVERTIBLE BONDS - 6.5% - (continued)
|
|||
|
|
Commercial Banks - 0.1%
|
||
|
EUR
200,000
|
Mitsubishi UFJ Investor Services &
Banking Luxembourg SA 6.52%,
12/15/2050, 3 mo. EURIBOR +
4.50%(4)
|
$148,999
|
|
|
|
Commercial Services - 0.1%
|
||
|
$ 30,000
|
Block, Inc. 0.25%, 11/01/2027
|
27,485
|
|
|
108,000
|
Global Payments, Inc. 1.50%, 03/01/2031
|
97,416
|
|
|
EUR
100,000
|
Nexi SpA 1.75%, 04/24/2027(6)
|
112,068
|
|
|
|
|
|
236,969
|
|
|
Diversified Financial Services - 0.2%
|
||
|
|
Coinbase Global, Inc.
|
|
|
|
$ 238,000
|
0.00%, 10/01/2032(1)(5)
|
265,251
|
|
|
92,000
|
0.25%, 04/01/2030
|
117,116
|
|
|
|
|
|
382,367
|
|
|
Electric - 0.5%
|
||
|
360,000
|
PG&E Corp. 4.25%, 12/01/2027
|
369,504
|
|
|
321,000
|
Southern Co. 3.25%, 06/15/2028(1)
|
326,618
|
|
|
|
WEC Energy Group, Inc.
|
|
|
|
82,000
|
3.38%, 06/01/2028(1)
|
84,501
|
|
|
310,000
|
4.38%, 06/01/2029
|
375,255
|
|
|
|
|
|
1,155,878
|
|
|
Energy-Alternate Sources - 0.1%
|
||
|
404,000
|
Enphase Energy, Inc. 0.00%,
03/01/2028(5)
|
349,985
|
|
|
30,000
|
Stem, Inc. 0.50%, 12/01/2028(1)
|
9,300
|
|
|
|
|
|
359,285
|
|
|
Entertainment - 0.1%
|
||
|
80,000
|
Live Nation Entertainment, Inc. 3.13%,
01/15/2029
|
120,672
|
|
|
|
Healthcare - Products - 0.7%
|
||
|
267,000
|
Exact Sciences Corp. 2.00%,
03/01/2030(1)
|
299,120
|
|
|
210,000
|
Guardant Health, Inc. 1.25%, 02/15/2031
|
358,092
|
|
|
360,000
|
Integer Holdings Corp. 1.88%,
03/15/2030(1)
|
311,940
|
|
|
289,000
|
Lantheus Holdings, Inc. 2.63%,
12/15/2027
|
320,212
|
|
|
259,000
|
Merit Medical Systems, Inc. 3.00%,
02/01/2029(1)
|
311,966
|
|
|
200,000
|
Qiagen NV 2.50%, 09/10/2031(6)
|
209,939
|
|
|
|
|
|
1,811,269
|
|
|
Home Builders - 0.2%
|
||
|
456,000
|
Meritage Homes Corp. 1.75%, 05/15/2028
|
454,216
|
|
|
|
Internet - 0.5%
|
||
|
|
Alibaba Group Holding Ltd.
|
|
|
|
190,000
|
0.00%, 09/15/2032(5)(6)
|
213,560
|
|
|
67,000
|
0.50%, 06/01/2031
|
118,456
|
|
|
264,000
|
DoorDash, Inc. 0.00%, 05/15/2030(1)(5)
|
291,456
|
|
|
75,000
|
JD.com, Inc. 0.25%, 06/01/2029
|
79,125
|
|
|
205,000
|
Shopify, Inc. 0.13%, 11/01/2025
|
233,495
|
|
|
247,000
|
Uber Technologies, Inc. 0.88%,
12/01/2028
|
359,632
|
|
|
|
|
|
1,295,724
|
|
|
Investment Company Security - 0.2%
|
||
|
373,000
|
HAT Holdings I LLC/HAT Holdings II LLC
3.75%, 08/15/2028(1)
|
441,632
|
|
|
40,000
|
IREN Ltd. 0.00%, 07/01/2031(1)(5)
|
42,120
|
|
|
65,000
|
Terawulf, Inc. 0.00%, 05/01/2032(1)(5)
|
67,210
|
|
|
|
|
|
550,962
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CONVERTIBLE BONDS - 6.5% - (continued)
|
|||
|
|
IT Services - 0.4%
|
||
|
$ 100,000
|
CyberArk Software Ltd. 0.00%,
06/15/2030(1)(5)
|
$116,600
|
|
|
92,000
|
Lumentum Holdings, Inc. 1.50%,
12/15/2029
|
271,860
|
|
|
320,000
|
Parsons Corp. 2.63%, 03/01/2029
|
365,120
|
|
|
56,000
|
Seagate HDD Cayman 3.50%, 06/01/2028
|
175,308
|
|
|
182,000
|
Super Micro Computer, Inc. 0.00%,
06/15/2030(1)(5)
|
214,566
|
|
|
|
|
|
1,143,454
|
|
|
Leisure Time - 0.3%
|
||
|
147,000
|
Carnival Corp. 5.75%, 12/01/2027
|
327,222
|
|
|
|
NCL Corp. Ltd.
|
|
|
|
163,000
|
0.75%, 09/15/2030(1)
|
156,276
|
|
|
316,000
|
0.88%, 04/15/2030(1)
|
350,365
|
|
|
|
|
|
833,863
|
|
|
Lodging - 0.2%
|
||
|
600,000
|
Wynn Macau Ltd. 4.50%, 03/07/2029(1)
|
629,400
|
|
|
|
Miscellaneous Manufacturing - 0.1%
|
||
|
230,000
|
JBT Marel Corp. 0.38%, 09/15/2030(1)
|
214,475
|
|
|
|
Oil & Gas Services - 0.0%
|
||
|
95,000
|
Solaris Energy Infrastructure, Inc. 0.25%,
10/01/2031
|
112,955
|
|
|
|
Pharmaceuticals - 0.1%
|
||
|
200,000
|
Jazz Investments I Ltd. 3.13%, 09/15/2030
|
244,200
|
|
|
|
Real Estate Investment Trusts - 0.5%
|
||
|
499,000
|
Boston Properties LP 2.00%,
10/01/2030(1)
|
488,271
|
|
|
425,000
|
Federal Realty OP LP 3.25%,
01/15/2029(1)
|
424,150
|
|
|
|
Rexford Industrial Realty LP
|
|
|
|
168,000
|
4.13%, 03/15/2029(1)
|
169,848
|
|
|
138,000
|
4.38%, 03/15/2027(1)
|
138,000
|
|
|
|
|
|
1,220,269
|
|
|
Semiconductors - 0.2%
|
||
|
265,000
|
ON Semiconductor Corp. 0.50%,
03/01/2029
|
245,920
|
|
|
|
Semtech Corp.
|
|
|
|
259,000
|
0.00%, 10/15/2030(1)(5)
|
262,626
|
|
|
19,000
|
1.63%, 11/01/2027
|
35,777
|
|
|
|
|
|
544,323
|
|
|
Software - 1.0%
|
||
|
|
Cloudflare, Inc.
|
|
|
|
40,000
|
0.00%, 08/15/2026(5)
|
55,738
|
|
|
410,000
|
0.00%, 06/15/2030(1)(5)
|
512,882
|
|
|
580,000
|
Datadog, Inc. 0.00%, 12/01/2029(1)(5)
|
615,090
|
|
|
297,000
|
Guidewire Software, Inc. 1.25%,
11/01/2029(1)
|
350,163
|
|
|
395,000
|
Nutanix, Inc. 0.50%, 12/15/2029(1)
|
435,171
|
|
|
22,000
|
Snowflake, Inc. 0.00%, 10/01/2029(5)
|
40,535
|
|
|
95,000
|
Strategy, Inc. 0.00%, 03/01/2030(1)(5)
|
93,575
|
|
|
15,000
|
Tyler Technologies, Inc. 0.25%,
03/15/2026
|
15,608
|
|
|
353,000
|
Unity Software, Inc. 0.00%,
03/15/2030(1)(5)
|
459,341
|
|
|
|
|
|
2,578,103
|
|
|
Telecommunications - 0.0%
|
||
|
40,000
|
AST SpaceMobile, Inc. 2.00%,
01/15/2036(1)
|
42,500
|
|
|
|
Total Convertible Bonds
(cost $15,436,501)
|
$16,615,212
|
|
|
|
41
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0%
|
|||
|
|
Advertising - 0.0%
|
||
|
$ 111,000
|
Clear Channel Outdoor Holdings, Inc.
7.50%, 06/01/2029(1)
|
$108,919
|
|
|
|
Aerospace & Defense - 0.0%
|
||
|
20,000
|
Goat Holdco LLC 6.75%, 02/01/2032(1)
|
20,423
|
|
|
|
Agriculture - 0.1%
|
||
|
53,000
|
BAT Capital Corp. 5.63%, 08/15/2035
|
55,057
|
|
|
400,000
|
MHP Lux SA 6.25%, 09/19/2029(6)
|
322,000
|
|
|
|
|
|
377,057
|
|
|
Airlines - 0.1%
|
||
|
25,000
|
OneSky Flight LLC 8.88%, 12/15/2029(1)
|
26,529
|
|
|
|
VistaJet Malta Finance PLC/Vista
Management Holding, Inc.
|
|
|
|
78,000
|
6.38%, 02/01/2030(1)
|
75,332
|
|
|
72,000
|
9.50%, 06/01/2028(1)
|
74,881
|
|
|
|
|
|
176,742
|
|
|
Apparel - 0.1%
|
||
|
178,000
|
Champ Acquisition Corp. 8.38%,
12/01/2031(1)
|
189,583
|
|
|
85,000
|
Under Armour, Inc. 7.25%, 07/15/2030(1)
|
83,901
|
|
|
|
|
|
273,484
|
|
|
Auto Manufacturers - 0.1%
|
||
|
25,000
|
Ford Motor Co. 3.25%, 02/12/2032
|
21,802
|
|
|
155,000
|
General Motors Financial Co., Inc. 5.70%,
09/30/2030, (5.70% fixed rate until
09/30/2030; 5 yr. USD CMT + 5.00%
thereafter)(4)(7)
|
155,495
|
|
|
|
|
|
177,297
|
|
|
Auto Parts & Equipment - 0.4%
|
||
|
87,000
|
Clarios Global LP/Clarios U.S. Finance
Co. 6.75%, 09/15/2032(1)
|
89,017
|
|
|
|
Forvia SE
|
|
|
|
EUR
200,000
|
3.75%, 06/15/2028(6)
|
230,693
|
|
|
250,000
|
5.38%, 03/15/2031(1)
|
296,138
|
|
|
100,000
|
5.50%, 06/15/2031(6)
|
119,059
|
|
|
200,000
|
ZF Europe Finance BV 7.00%,
06/12/2030(6)
|
236,165
|
|
|
|
|
|
971,072
|
|
|
Beverages - 0.1%
|
||
|
$ 205,000
|
Central American Bottling Corp./CBC
Bottling Holdco SL/Beliv Holdco SL
5.25%, 04/27/2029(6)
|
200,938
|
|
|
|
Biotechnology - 0.2%
|
||
|
490,000
|
Biocon Biologics Global PLC 6.67%,
10/09/2029(6)
|
484,517
|
|
|
|
Chemicals - 0.8%
|
||
|
|
GC Treasury Center Co. Ltd.
|
|
|
|
200,000
|
6.50%, 09/10/2030, (6.50% fixed rate
until 09/10/2030; 5 yr. USD CMT +
2.82% thereafter)(4)(7)
|
202,440
|
|
|
400,000
|
7.13%, 03/10/2035, (7.13% fixed rate
until 03/10/2035; 5 yr. USD CMT +
3.16% thereafter)(4)(7)
|
413,787
|
|
|
|
OCP SA
|
|
|
|
215,000
|
6.70%, 03/01/2036(6)
|
231,424
|
|
|
200,000
|
6.70%, 03/01/2036(1)
|
215,421
|
|
|
|
Tronox, Inc.
|
|
|
|
1,648,000
|
4.63%, 03/15/2029(1)
|
1,013,154
|
|
|
116,000
|
9.13%, 09/30/2030(1)
|
105,845
|
|
|
|
|
|
2,182,071
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Commercial Banks - 3.6%
|
||
|
$ 200,000
|
AIB Group PLC 5.32%, 05/15/2031,
(5.32% fixed rate until 05/15/2030;
6 mo. USD SOFR + 1.65%
thereafter)(1)(4)
|
$205,953
|
|
|
|
Banca Transilvania SA
|
|
|
|
EUR
705,000
|
5.13%, 09/30/2030, (5.13% fixed rate
until 09/30/2029; 1 yr. EURIBOR ICE
Swap + 2.95% thereafter)(4)(6)
|
833,695
|
|
|
205,000
|
8.88%, 04/27/2027, (8.88% fixed rate
until 04/27/2026; 1 yr. EURIBOR ICE
Swap + 5.58% thereafter)(4)(6)
|
242,429
|
|
|
|
Banco Santander SA
|
|
|
|
$ 200,000
|
4.55%, 11/06/2030
|
200,158
|
|
|
EUR
200,000
|
6.00%, 01/02/2031, (6.00% fixed rate
until 01/02/2031; 5 yr. EURIBOR ICE
Swap + 3.82% thereafter)(4)(6)(7)
|
239,210
|
|
|
|
Bank of America Corp.
|
|
|
|
$ 45,000
|
2.48%, 09/21/2036, (2.48% fixed rate
until 09/21/2031; 5 yr. USD CMT +
1.20% thereafter)(4)
|
39,212
|
|
|
32,000
|
5.52%, 10/25/2035, (5.52% fixed rate
until 10/25/2034; 6 mo. USD SOFR +
1.74% thereafter)(4)
|
32,807
|
|
|
20,000
|
6.25%, 07/26/2030, (6.25% fixed rate
until 07/26/2030; 5 yr. USD CMT +
2.35% thereafter)(4)(7)
|
20,344
|
|
|
EUR
200,000
|
Bank of Cyprus Holdings PLC 11.88%,
06/21/2028, (11.88% fixed rate until
06/21/2028; 5 yr. EURIBOR ICE Swap
+ 9.13% thereafter)(4)(6)(7)
|
273,117
|
|
|
|
Bank of New York Mellon Corp.
|
|
|
|
$ 50,000
|
3.99%, 06/13/2028, (3.99% fixed rate
until 06/13/2027; 6 mo. USD SOFR +
1.15% thereafter)(4)
|
49,967
|
|
|
20,000
|
5.61%, 07/21/2039, (5.61% fixed rate
until 07/21/2034; 6 mo. USD SOFR +
1.77% thereafter)(4)
|
20,899
|
|
|
40,000
|
6.32%, 10/25/2029, (6.32% fixed rate
until 10/25/2028; 6 mo. USD SOFR +
1.60% thereafter)(4)
|
42,529
|
|
|
EUR
200,000
|
BAWAG Group AG 7.25%, 09/18/2029,
(7.25% fixed rate until 09/18/2029; 5 yr.
EURIBOR ICE Swap + 5.05%
thereafter)(4)(6)(7)
|
245,113
|
|
|
$ 418,000
|
BBVA Mexico SA Institucion De Banca
Multiple Grupo Financiero BBVA
Mexico 8.13%, 01/08/2039, 5 yr. USD
CMT + 4.21%(4)(6)
|
455,505
|
|
|
250,000
|
BPCE SA 7.00%, 10/19/2034, (7.00%
fixed rate until 10/19/2033; 6 mo. USD
SOFR + 2.59% thereafter)(1)(4)
|
279,173
|
|
|
EUR
200,000
|
CaixaBank SA 7.50%, 01/16/2030, (7.50%
fixed rate until 01/16/2030; 5 yr.
EURIBOR ICE Swap + 5.30%
thereafter)(4)(6)(7)
|
257,387
|
|
|
200,000
|
CCF Holding SAS 9.25%, 06/12/2029,
(9.25% fixed rate until 06/12/2029; 5 yr.
EUR Swap + 6.63% thereafter)(4)(6)(7)
|
252,075
|
|
|
|
Citigroup, Inc.
|
|
|
|
$ 89,000
|
6.88%, 08/15/2030, 5 yr. USD CMT +
2.89%(4)(7)
|
91,703
|
|
|
88,000
|
7.63%, 11/15/2028, (7.63% fixed rate
until 11/15/2028; 5 yr. USD CMT +
3.21% thereafter)(4)(7)
|
92,074
|
|
|
|
42
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Commercial Banks - 3.6% - (continued)
|
||
|
EUR
100,000
|
CrediaBank SA 9.38%, 01/31/2031,
(9.38% fixed rate until 01/31/2031; 5 yr.
EURIBOR ICE Swap + 7.28%
thereafter)(4)(6)(7)
|
$122,986
|
|
|
200,000
|
Credit Agricole SA 6.50%, 09/23/2029,
(6.50% fixed rate until 09/23/2029; 5 yr.
EURIBOR ICE Swap + 4.21%
thereafter)(4)(6)(7)
|
244,690
|
|
|
200,000
|
Erste Group Bank AG 7.00%, 04/15/2031,
(7.00% fixed rate until 04/15/2031; 5 yr.
EURIBOR ICE Swap + 4.41%
thereafter)(4)(6)(7)
|
252,466
|
|
|
175,000
|
Eurobank SA 4.00%, 02/07/2036, (4.00%
fixed rate until 02/07/2035; 1 yr.
EURIBOR ICE Swap + 1.70%
thereafter)(4)(6)
|
204,220
|
|
|
$ 429,000
|
Freedom Mortgage Corp. 12.25%,
10/01/2030(1)
|
477,548
|
|
|
|
Goldman Sachs Group, Inc.
|
|
|
|
93,000
|
3.65%, 08/10/2026, (3.65% fixed rate
until 08/10/2026; 5 yr. USD CMT +
2.92% thereafter)(4)(7)
|
91,157
|
|
|
104,000
|
7.50%, 02/10/2029, (7.50% fixed rate
until 02/10/2029; 5 yr. USD CMT +
3.16% thereafter)(4)(7)
|
110,341
|
|
|
400,000
|
Golomt Bank 11.00%, 05/20/2027(1)
|
412,936
|
|
|
EUR
200,000
|
Ibercaja Banco SA 9.13%, 01/25/2028,
(9.13% fixed rate until 01/25/2028; 5 yr.
EUR Swap + 6.83% thereafter)(4)(6)(7)
|
254,749
|
|
|
|
Intesa Sanpaolo SpA
|
|
|
|
$ 200,000
|
4.20%, 06/01/2032, (4.20% fixed rate
until 06/01/2031; 1 yr. USD CMT +
2.60% thereafter)(1)(4)
|
189,544
|
|
|
EUR
200,000
|
6.38%, 05/26/2033, (6.38% fixed rate
until 05/26/2033; 5 yr. EURIBOR ICE
Swap + 4.04% thereafter)(4)(6)(7)
|
241,881
|
|
|
$ 200,000
|
7.80%, 11/28/2053(1)
|
247,536
|
|
|
|
JP Morgan Chase & Co.
|
|
|
|
16,000
|
4.51%, 10/22/2028, (4.51% fixed rate
until 10/22/2027; 6 mo. USD SOFR +
0.86% thereafter)(4)
|
16,124
|
|
|
48,000
|
5.53%, 11/29/2045, (5.53% fixed rate
until 11/29/2044; 6 mo. USD SOFR +
1.55% thereafter)(4)
|
49,441
|
|
|
10,000
|
5.58%, 07/23/2036, (5.58% fixed rate
until 07/23/2035; 6 mo. USD SOFR +
1.64% thereafter)(4)
|
10,369
|
|
|
EUR
225,000
|
Jyske Bank AS 3.50%, 11/19/2031,
(3.50% fixed rate until 11/19/2030; 1 yr.
EURIBOR ICE Swap + 1.27%
thereafter)(4)(6)
|
263,185
|
|
|
200,000
|
KBC Group NV 6.00%, 11/27/2030,
(6.00% fixed rate until 11/27/2030; 5 yr.
EURIBOR ICE Swap + 3.81%
thereafter)(4)(6)(7)
|
238,626
|
|
|
200,000
|
Luminor Holding AS 7.38%, 02/12/2031,
(7.38% fixed rate until 02/12/2031; 5 yr.
EURIBOR ICE Swap + 5.26%
thereafter)(4)(6)(7)
|
240,117
|
|
|
GBP
100,000
|
Metro Bank Holdings PLC 12.00%,
04/30/2029, (12.00% fixed rate until
04/30/2028; 1 yr. U.K. Government
Bond + 7.81% thereafter)(4)(6)
|
149,811
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Commercial Banks - 3.6% - (continued)
|
||
|
EUR
200,000
|
Nova Ljubljanska Banka DD 6.88%,
01/24/2034, (6.88% fixed rate until
01/24/2029; 5 yr. EURIBOR ICE Swap
+ 4.23% thereafter)(4)(6)
|
$251,009
|
|
|
$ 200,000
|
Societe Generale SA 10.00%, 11/14/2028,
(10.00% fixed rate until 11/14/2028; 5
yr. USD CMT + 5.45% thereafter)(4)(7)
|
221,319
|
|
|
EUR
200,000
|
Spar Nord Bank AS 4.13%, 10/01/2030,
(4.13% fixed rate until 10/01/2029; 1 yr.
EURIBOR ICE Swap + 1.85%
thereafter)(4)(6)
|
239,307
|
|
|
$ 800,000
|
Trade & Development Bank of
Mongolia LLC 8.50%, 12/23/2027(6)
|
790,679
|
|
|
EUR
100,000
|
Unicaja Banco SA 0.25%, 09/25/2029(6)
|
105,576
|
|
|
$ 47,000
|
Wells Fargo & Co. 3.90%, 03/15/2026,
(3.90% fixed rate until 03/15/2026; 5 yr.
USD CMT + 3.45% thereafter)(4)(7)
|
46,651
|
|
|
|
|
|
9,345,618
|
|
|
Commercial Services - 0.4%
|
||
|
122,000
|
Avis Budget Car Rental LLC/Avis Budget
Finance, Inc. 8.38%, 06/15/2032(1)
|
124,977
|
|
|
GBP
100,000
|
BCP V Modular Services Finance II PLC
6.13%, 11/30/2028(6)
|
120,838
|
|
|
$ 59,000
|
Block, Inc. 3.50%, 06/01/2031
|
54,934
|
|
|
158,000
|
Deluxe Corp. 8.13%, 09/15/2029(1)
|
165,523
|
|
|
13,000
|
Massachusetts Institute of Technology
5.60%, 07/01/2111
|
13,369
|
|
|
EUR
415,000
|
Verisure Midholding AB 5.25%,
02/15/2029(6)
|
481,771
|
|
|
|
|
|
961,412
|
|
|
Construction Materials - 0.4%
|
||
|
$ 600,000
|
Cemex SAB de CV 7.20%, 06/10/2030,
(7.20% fixed rate until 06/10/2030; 5 yr.
USD CMT + 3.52% thereafter)(4)(7)
|
623,370
|
|
|
|
CP Atlas Buyer, Inc.
|
|
|
|
68,000
|
9.75%, 07/15/2030(1)
|
70,936
|
|
|
166,000
|
12.75%, 01/15/2031(1)(8)
|
162,587
|
|
|
70,000
|
JH North America Holdings, Inc. 5.88%,
01/31/2031(1)
|
71,296
|
|
|
|
|
|
928,189
|
|
|
Diversified Financial Services - 3.2%
|
||
|
57,000
|
Aircastle Ltd. 5.25%, 06/15/2026, (5.25%
fixed rate until 06/15/2026; 5 yr. USD
CMT + 4.41% thereafter)(4)(7)
|
56,644
|
|
|
|
Bread Financial Holdings, Inc.
|
|
|
|
134,000
|
6.75%, 05/15/2031(1)
|
134,917
|
|
|
1,037,000
|
8.38%, 06/15/2035, (8.38% fixed rate
until 06/15/2030; 5 yr. USD CMT +
4.30% thereafter)(1)(4)
|
1,061,044
|
|
|
30,000
|
Credit Acceptance Corp. 9.25%,
12/15/2028(1)
|
31,461
|
|
|
823,000
|
CrossCountry Intermediate HoldCo LLC
6.50%, 10/01/2030(1)
|
830,591
|
|
|
196,000
|
EZCORP, Inc. 7.38%, 04/01/2032(1)
|
207,025
|
|
|
|
Freedom Mortgage Holdings LLC
|
|
|
|
805,000
|
8.38%, 04/01/2032(1)
|
839,304
|
|
|
177,000
|
9.13%, 05/15/2031(1)
|
188,156
|
|
|
|
goeasy Ltd.
|
|
|
|
36,000
|
6.88%, 05/15/2030(1)
|
35,381
|
|
|
16,000
|
6.88%, 02/15/2031(1)
|
15,636
|
|
|
103,000
|
7.38%, 10/01/2030(1)
|
102,770
|
|
|
251,000
|
Hightower Holding LLC 9.13%,
01/31/2030(1)
|
269,035
|
|
|
1,294,000
|
LFS Topco LLC 8.75%, 07/15/2030(1)
|
1,266,672
|
|
|
|
43
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Diversified Financial Services - 3.2% - (continued)
|
||
|
$ 200,000
|
Midcap Financial Issuer Trust 6.50%,
05/01/2028(1)
|
$196,448
|
|
|
500,000
|
Muangthai Capital PCL 7.55%,
07/21/2030(1)
|
516,763
|
|
|
580,000
|
Muthoot Finance Ltd. 6.38%,
03/02/2030(1)
|
589,316
|
|
|
77,000
|
PennyMac Financial Services, Inc. 6.88%,
05/15/2032(1)
|
80,318
|
|
|
1,013,000
|
Planet Financial Group LLC 10.50%,
12/15/2029(1)
|
1,049,223
|
|
|
84,000
|
Rocket Cos., Inc. 6.38%, 08/01/2033(1)
|
87,505
|
|
|
410,000
|
Sammaan Capital Ltd. 7.50%,
10/16/2030(1)
|
414,042
|
|
|
198,000
|
TrueNoord Capital DAC 8.75%,
03/01/2030(1)
|
208,596
|
|
|
|
|
|
8,180,847
|
|
|
Electric - 3.6%
|
||
|
188,168
|
AES Panama Generation Holdings SRL
4.38%, 05/31/2030(6)
|
175,749
|
|
|
15,000
|
American Electric Power Co., Inc. 5.80%,
03/15/2056, (5.80% fixed rate until
12/15/2030; 5 yr. USD CMT + 2.13%
thereafter)(4)
|
15,027
|
|
|
397,964
|
Buffalo Energy Mexico Holdings/Buffalo
Energy Infrastructure/Buffalo Energy
7.88%, 02/15/2039(6)
|
430,187
|
|
|
|
Bulgarian Energy Holding EAD
|
|
|
|
EUR
429,000
|
2.45%, 07/22/2028(6)
|
477,517
|
|
|
100,000
|
4.25%, 06/19/2030(6)
|
115,408
|
|
|
$ 45,000
|
CMS Energy Corp. 4.75%, 06/01/2050,
(4.75% fixed rate until 03/01/2030; 5 yr.
USD CMT + 4.12% thereafter)(4)
|
44,209
|
|
|
|
Dominion Energy, Inc.
|
|
|
|
148,000
|
4.35%, 01/15/2027, (4.35% fixed rate
until 01/15/2027; 5 yr. USD CMT +
3.20% thereafter)(4)(7)
|
145,565
|
|
|
40,000
|
4.60%, 05/15/2028
|
40,433
|
|
|
87,000
|
6.88%, 02/01/2055, (6.88% fixed rate
until 11/03/2029; 5 yr. USD CMT +
2.39% thereafter)(4)
|
91,446
|
|
|
10,000
|
7.00%, 06/01/2054, (7.00% fixed rate
until 03/03/2034; 5 yr. USD CMT +
2.51% thereafter)(4)
|
10,923
|
|
|
EUR
775,000
|
Eastern European Electric Co. BV 6.50%,
05/15/2030(1)
|
935,473
|
|
|
|
Edison International
|
|
|
|
$ 638,000
|
5.00%, 12/15/2026, (5.00% fixed rate
until 12/15/2026; 5 yr. USD CMT +
3.90% thereafter)(4)(7)
|
622,274
|
|
|
211,000
|
7.88%, 06/15/2054, (7.88% fixed rate
until 03/15/2029; 5 yr. USD CMT +
3.66% thereafter)(4)
|
217,164
|
|
|
423,000
|
8.13%, 06/15/2053, (8.13% fixed rate
until 03/15/2028; 5 yr. USD CMT +
3.86% thereafter)(4)
|
436,565
|
|
|
152,000
|
Emera, Inc. 6.75%, 06/15/2076(4)
|
152,725
|
|
|
|
Energo-Pro AS
|
|
|
|
EUR
855,000
|
8.00%, 05/27/2030(1)
|
1,045,677
|
|
|
$ 200,000
|
11.00%, 11/02/2028(6)
|
211,000
|
|
|
138,000
|
EUSHI Finance, Inc. 7.63%, 12/15/2054,
(7.63% fixed rate until 09/15/2029; 5 yr.
USD CMT + 3.14% thereafter)(4)
|
145,101
|
|
|
1,460,000
|
GDZ Elektrik Dagitim AS 9.00%,
10/15/2029(1)
|
1,427,499
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Electric - 3.6% - (continued)
|
||
|
$ 39,505
|
Johnsonville Aeroderivative Combustion
Turbine Generation LLC 5.08%,
10/01/2054
|
$38,389
|
|
|
1,280,000
|
Limak Yenilenebilir Enerji AS 9.63%,
08/12/2030(1)
|
1,262,527
|
|
|
126,000
|
Sempra 6.38%, 04/01/2056, (6.38% fixed
rate until 01/01/2031; 5 yr. USD CMT +
2.63% thereafter)(4)
|
129,466
|
|
|
|
Southern California Edison Co.
|
|
|
|
55,000
|
5.25%, 03/15/2030
|
56,297
|
|
|
25,000
|
6.20%, 09/15/2055
|
25,515
|
|
|
400,000
|
Termocandelaria Power SA 7.75%,
09/17/2031(6)
|
415,212
|
|
|
|
Virginia Electric & Power Co.
|
|
|
|
40,000
|
4.20%, 05/15/2045
|
33,684
|
|
|
5,000
|
5.60%, 09/15/2055
|
5,006
|
|
|
75,000
|
VoltaGrid LLC 7.38%, 11/01/2030(1)
|
76,279
|
|
|
375,000
|
Zorlu Enerji Elektrik Uretim AS 11.00%,
04/23/2030(1)
|
336,436
|
|
|
|
|
|
9,118,753
|
|
|
Energy-Alternate Sources - 0.2%
|
||
|
625,000
|
FS Luxembourg SARL 8.63%,
06/25/2033(1)
|
648,438
|
|
|
|
Entertainment - 0.1%
|
||
|
57,000
|
Great Canadian Gaming Corp./Raptor LLC
8.75%, 11/15/2029(1)
|
55,729
|
|
|
140,000
|
Warnermedia Holdings, Inc. 5.05%,
03/15/2042
|
112,382
|
|
|
|
|
|
168,111
|
|
|
Environmental Control - 0.0%
|
||
|
6,000
|
Reworld Holding Corp. 4.88%,
12/01/2029(1)
|
5,638
|
|
|
|
Food - 0.5%
|
||
|
|
Bellis Acquisition Co. PLC
|
|
|
|
EUR
300,000
|
8.00%, 07/01/2031(1)
|
352,056
|
|
|
200,000
|
8.00%, 07/01/2031(6)
|
234,704
|
|
|
$ 400,000
|
BRF SA 5.75%, 09/21/2050(6)
|
339,093
|
|
|
20,000
|
JBS USA Holding Lux SARL/JBS USA
Foods Group Holdings, Inc./JBS USA
Food Co. 6.38%, 04/15/2066(1)
|
20,460
|
|
|
70,000
|
Mars, Inc. 5.00%, 03/01/2032(1)
|
71,934
|
|
|
EUR
300,000
|
Picard Groupe SAS 6.38%, 07/01/2029(1)
|
363,166
|
|
|
|
|
|
1,381,413
|
|
|
Forest Products & Paper - 0.2%
|
||
|
$ 704,000
|
Mercer International, Inc. 12.88%,
10/01/2028(1)
|
584,494
|
|
|
|
Gas - 0.1%
|
||
|
209,000
|
AltaGas Ltd. 7.20%, 10/15/2054, (7.20%
fixed rate until 07/17/2034; 5 yr. USD
CMT + 3.57% thereafter)(1)(4)
|
214,253
|
|
|
|
Hand/Machine Tools - 0.1%
|
||
|
EUR
200,000
|
IMA Industria Macchine Automatiche SpA
3.75%, 01/15/2028(6)
|
230,361
|
|
|
|
Healthcare - Products - 0.1%
|
||
|
$ 150,000
|
Insulet Corp. 6.50%, 04/01/2033(1)
|
156,278
|
|
|
|
Healthcare - Services - 0.7%
|
||
|
15,000
|
Acadia Healthcare Co., Inc. 7.38%,
03/15/2033(1)
|
15,506
|
|
|
|
CHS/Community Health Systems, Inc.
|
|
|
|
195,000
|
4.75%, 02/15/2031(1)
|
174,077
|
|
|
508,000
|
6.88%, 04/15/2029(1)
|
460,568
|
|
|
|
44
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Healthcare - Services - 0.7% - (continued)
|
||
|
$ 805,000
|
9.75%, 01/15/2034(1)
|
$852,324
|
|
|
173,000
|
Star Parent, Inc. 9.00%, 10/01/2030(1)
|
184,725
|
|
|
|
|
|
1,687,200
|
|
|
Insurance - 1.0%
|
||
|
|
Acrisure LLC/Acrisure Finance, Inc.
|
|
|
|
14,000
|
6.75%, 07/01/2032(1)
|
14,358
|
|
|
629,000
|
8.50%, 06/15/2029(1)
|
660,295
|
|
|
155,000
|
Alliant Holdings Intermediate LLC/Alliant
Holdings Co-Issuer 7.38%,
10/01/2032(1)
|
159,929
|
|
|
143,000
|
American National Group, Inc. 7.00%,
12/01/2055, (7.00% fixed rate until
12/01/2030; 5 yr. USD CMT + 3.18%
thereafter)(4)
|
146,038
|
|
|
|
Athene Global Funding
|
|
|
|
47,000
|
4.95%, 01/07/2027(1)
|
47,364
|
|
|
35,000
|
5.35%, 07/09/2027(1)
|
35,566
|
|
|
20,000
|
5.68%, 02/23/2026(1)
|
20,077
|
|
|
|
Global Atlantic Fin Co.
|
|
|
|
104,000
|
4.70%, 10/15/2051, (4.70% fixed rate
until 07/15/2026; 5 yr. USD CMT +
3.80% thereafter)(1)(4)
|
101,288
|
|
|
119,000
|
7.95%, 10/15/2054, (7.95% fixed rate
until 07/15/2029; 5 yr. USD CMT +
3.61% thereafter)(1)(4)
|
124,414
|
|
|
400,000
|
Howden U.K. Refinance PLC/Howden U.K.
Refinance 2 PLC/Howden
U.S. Refinance LLC 8.13%,
02/15/2032(1)
|
412,843
|
|
|
38,000
|
HUB International Ltd. 5.63%,
12/01/2029(1)
|
37,887
|
|
|
|
Liberty Mutual Group, Inc.
|
|
|
|
75,000
|
4.13%, 12/15/2051, (4.13% fixed rate
until 09/15/2026; 5 yr. USD CMT +
3.32% thereafter)(1)(4)
|
73,309
|
|
|
69,000
|
4.30%, 02/01/2061(1)
|
44,290
|
|
|
205,000
|
Lincoln National Corp. 9.25%, 12/01/2027,
(9.25% fixed rate until 12/01/2027; 5 yr.
USD CMT + 5.32% thereafter)(4)(7)
|
220,514
|
|
|
200,000
|
RLGH Finance Bermuda Ltd. 6.75%,
07/02/2035(6)
|
214,924
|
|
|
EUR
100,000
|
SCOR SE 6.00%, 06/20/2034, (6.00%
fixed rate until 06/20/2034; 5 yr.
EURIBOR ICE Swap + 3.86%
thereafter)(4)(6)(7)
|
119,715
|
|
|
200,000
|
Sogecap SA 6.25%, 07/08/2035, (6.25%
fixed rate until 07/08/2035; 5 yr.
EURIBOR ICE Swap + 3.75%
thereafter)(4)(6)(7)
|
234,591
|
|
|
|
|
|
2,667,402
|
|
|
Internet - 0.2%
|
||
|
$ 140,000
|
Beignet Investor LLC 6.58%, 05/30/2049(1)
|
149,339
|
|
|
|
United Group BV
|
|
|
|
EUR
100,000
|
4.63%, 08/15/2028(6)
|
115,378
|
|
|
300,000
|
6.75%, 02/15/2031(6)
|
353,326
|
|
|
|
|
|
618,043
|
|
|
Iron/Steel - 0.1%
|
||
|
$ 285,000
|
JSW Steel Ltd. 3.95%, 04/05/2027(6)
|
279,953
|
|
|
|
Leisure Time - 0.0%
|
||
|
25,000
|
NCL Corp. Ltd. 6.75%, 02/01/2032(1)
|
25,689
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Lodging - 0.5%
|
||
|
EUR
615,000
|
Fortune Star BVI Ltd. 3.95%,
10/02/2026(6)
|
$705,123
|
|
|
$ 620,000
|
Studio City Finance Ltd. 5.00%,
01/15/2029(6)
|
593,664
|
|
|
|
|
|
1,298,787
|
|
|
Media - 0.4%
|
||
|
|
Scripps Escrow II, Inc.
|
|
|
|
75,000
|
3.88%, 01/15/2029(1)
|
67,813
|
|
|
52,000
|
5.38%, 01/15/2031(1)(9)
|
35,772
|
|
|
610,000
|
Univision Communications, Inc. 9.38%,
08/01/2032(1)
|
643,899
|
|
|
40,000
|
Versant Media Group, Inc. 7.25%,
01/30/2031(1)
|
40,773
|
|
|
200,000
|
VTR Finance NV 6.38%, 07/15/2028(6)
|
196,500
|
|
|
|
|
|
984,757
|
|
|
Mining - 0.8%
|
||
|
|
Glencore Funding LLC
|
|
|
|
50,000
|
2.50%, 09/01/2030(1)
|
45,734
|
|
|
28,000
|
3.88%, 04/27/2051(1)
|
21,191
|
|
|
|
Ivanhoe Mines Ltd.
|
|
|
|
415,000
|
7.88%, 01/23/2030(1)
|
427,745
|
|
|
215,000
|
7.88%, 01/23/2030(6)
|
221,611
|
|
|
625,000
|
Vedanta Resources Finance II PLC
9.85%, 04/24/2033(1)
|
632,118
|
|
|
|
WE Soda Investments Holding PLC
|
|
|
|
400,000
|
9.50%, 10/06/2028(6)
|
400,523
|
|
|
315,000
|
9.50%, 10/06/2028(1)
|
315,412
|
|
|
|
|
|
2,064,334
|
|
|
Oil & Gas - 1.9%
|
||
|
1,340,000
|
Azule Energy Finance PLC 8.13%,
01/23/2030(1)
|
1,346,708
|
|
|
|
Diamondback Energy, Inc.
|
|
|
|
14,000
|
4.25%, 03/15/2052
|
11,029
|
|
|
20,000
|
5.90%, 04/18/2064
|
19,163
|
|
|
|
Energean Israel Finance Ltd.
|
|
|
|
280,000
|
5.38%, 03/30/2028(6)
|
275,450
|
|
|
830,000
|
5.88%, 03/30/2031(6)
|
801,188
|
|
|
|
Petroleos Mexicanos
|
|
|
|
270,000
|
5.95%, 01/28/2031
|
264,098
|
|
|
185,000
|
6.75%, 09/21/2047
|
153,208
|
|
|
385,000
|
7.69%, 01/23/2050
|
349,118
|
|
|
|
Phillips 66 Co.
|
|
|
|
94,000
|
5.88%, 03/15/2056, (5.88% fixed rate
until 12/15/2030; 5 yr. USD CMT +
2.28% thereafter)(4)
|
93,439
|
|
|
148,000
|
6.20%, 03/15/2056, (6.20% fixed rate
until 12/15/2035; 5 yr. USD CMT +
2.17% thereafter)(4)
|
149,470
|
|
|
400,000
|
Raizen Fuels Finance SA 6.70%,
02/25/2037(1)
|
334,152
|
|
|
78,000
|
Talos Production, Inc. 9.38%,
02/01/2031(1)
|
79,770
|
|
|
|
YPF SA
|
|
|
|
440,000
|
6.95%, 07/21/2027(6)
|
439,185
|
|
|
430,000
|
8.75%, 09/11/2031(1)
|
441,727
|
|
|
|
|
|
4,757,705
|
|
|
Packaging & Containers - 0.3%
|
||
|
EUR
150,000
|
Ardagh Packaging Finance PLC/Ardagh
Holdings USA, Inc. 2.13%,
08/15/2026(6)
|
167,883
|
|
|
$ 600,000
|
SAN Miguel Industrias Pet SA/NG PET
R&P Latin America SA 3.75%,
08/02/2028(3)(6)
|
573,024
|
|
|
|
|
|
740,907
|
|
|
45
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Pharmaceuticals - 0.5%
|
||
|
|
CVS Health Corp.
|
|
|
|
$ 137,000
|
6.75%, 12/10/2054, (6.75% fixed rate
until 09/10/2034; 5 yr. USD CMT +
2.52% thereafter)(4)
|
$142,374
|
|
|
76,000
|
7.00%, 03/10/2055, (7.00% fixed rate
until 12/10/2029; 5 yr. USD CMT +
2.89% thereafter)(4)
|
79,852
|
|
|
|
Grifols SA
|
|
|
|
EUR
100,000
|
3.88%, 10/15/2028(6)(9)
|
112,424
|
|
|
300,000
|
7.50%, 05/01/2030(6)
|
363,981
|
|
|
|
Teva Pharmaceutical Finance Netherlands
II BV
|
|
|
|
425,000
|
4.38%, 05/09/2030
|
505,563
|
|
|
100,000
|
7.88%, 09/15/2031
|
138,754
|
|
|
|
|
|
1,342,948
|
|
|
Pipelines - 0.6%
|
||
|
$ 750,000
|
AL Candelaria (Spain) SA 5.75%,
06/15/2033(6)
|
680,280
|
|
|
|
Enbridge, Inc.
|
|
|
|
237,000
|
5.75%, 07/15/2080, (5.75% fixed rate
until 04/15/2030; 5 yr. USD CMT +
5.31% thereafter)(4)
|
238,606
|
|
|
10,000
|
7.20%, 06/27/2054, (7.20% fixed rate
until 03/27/2034; 5 yr. USD CMT +
2.97% thereafter)(4)
|
10,680
|
|
|
96,000
|
8.50%, 01/15/2084, (8.50% fixed rate
until 10/15/2033; 5 yr. USD CMT +
4.43% thereafter)(4)
|
110,375
|
|
|
|
Energy Transfer LP
|
|
|
|
74,000
|
6.50%, 02/15/2056, (6.50% fixed rate
until 11/15/2030; 5 yr. USD CMT +
2.68% thereafter)(4)
|
73,330
|
|
|
59,000
|
8.00%, 05/15/2054, (8.00% fixed rate
until 02/15/2029; 5 yr. USD CMT +
4.02% thereafter)(4)
|
62,983
|
|
|
88,000
|
South Bow Canadian Infrastructure
Holdings Ltd. 7.63%, 03/01/2055,
(7.63% fixed rate until 12/01/2029; 5 yr.
USD CMT + 3.95% thereafter)(4)
|
91,612
|
|
|
|
Targa Resources Corp.
|
|
|
|
30,000
|
4.90%, 09/15/2030
|
30,419
|
|
|
15,000
|
6.50%, 02/15/2053
|
15,766
|
|
|
|
Transcanada Trust
|
|
|
|
262,000
|
5.60%, 03/07/2082, (5.60% fixed rate
until 12/07/2031; 5 yr. USD CMT +
3.99% thereafter)(4)
|
259,062
|
|
|
90,000
|
5.88%, 08/15/2076, (5.88% fixed rate
until 08/15/2026; 3 mo. USD SOFR +
4.64% thereafter)(4)
|
90,005
|
|
|
|
|
|
1,663,118
|
|
|
Real Estate - 2.0%
|
||
|
EUR
365,000
|
Alexandrite Lake Lux Holdings SARL
6.75%, 07/30/2030(1)
|
431,979
|
|
|
GBP
330,000
|
Canary Wharf Group Investment Holdings
PLC 3.38%, 04/23/2028(6)
|
406,466
|
|
|
$ 400,000
|
Country Garden Holdings Co. Ltd. 3.88%,
10/22/2030(6)(10)
|
38,000
|
|
|
|
CPI Property Group SA
|
|
|
|
EUR
300,000
|
4.75%, 07/22/2030(6)
|
337,573
|
|
|
200,000
|
7.50%, 03/26/2031, (7.50% fixed rate
until 03/26/2031; 5 yr. EURIBOR ICE
Swap + 5.23% thereafter)(4)(6)(7)
|
219,045
|
|
|
$ 400,000
|
GLP China Holdings Ltd. 2.95%,
03/29/2026(6)
|
394,475
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Real Estate - 2.0% - (continued)
|
||
|
|
GLP Pte. Ltd.
|
|
|
|
$ 830,000
|
4.50%, 05/17/2026, (4.50% fixed rate
until 05/17/2026; 5 yr. USD CMT +
3.74% thereafter)(4)(6)(7)
|
$578,968
|
|
|
200,000
|
4.60%, 06/29/2027, (4.60% fixed rate
until 06/29/2027; 5 yr. USD CMT +
3.73% thereafter)(4)(6)(7)
|
132,996
|
|
|
400,000
|
9.75%, 05/20/2028(6)
|
419,800
|
|
|
EUR
100,000
|
New Immo Holding SA 3.25%,
07/23/2027(6)
|
114,491
|
|
|
$ 815,000
|
Pingan Real Estate Capital Ltd. 3.45%,
07/29/2026(6)
|
798,201
|
|
|
|
Samhallsbyggnadsbolaget I Norden
Holding AB
|
|
|
|
EUR
315,000
|
0.75%, 11/14/2028(6)
|
293,024
|
|
|
1,065,000
|
1.13%, 09/26/2029(6)
|
943,789
|
|
|
|
|
|
5,108,807
|
|
|
Real Estate Investment Trusts - 0.8%
|
||
|
$ 500,000
|
Champion MTN Ltd. 2.95%, 06/15/2030(6)
|
431,590
|
|
|
|
Hudson Pacific Properties LP
|
|
|
|
435,000
|
3.25%, 01/15/2030
|
371,448
|
|
|
808,000
|
4.65%, 04/01/2029
|
743,898
|
|
|
243,000
|
5.95%, 02/15/2028
|
237,554
|
|
|
200,000
|
Trust Fibra Uno 7.38%, 02/13/2034(6)
|
217,832
|
|
|
|
|
|
2,002,322
|
|
|
Retail - 0.5%
|
||
|
|
Bertrand Franchise Finance SAS
|
|
|
|
EUR
100,000
|
5.75%, 07/18/2030, 3 mo. EURIBOR +
3.75%(4)(6)
|
111,831
|
|
|
200,000
|
6.50%, 07/18/2030(6)
|
224,238
|
|
|
$ 179,000
|
LBM Acquisition LLC 6.25%, 01/15/2029(1)
|
163,271
|
|
|
85,000
|
Macy's Retail Holdings LLC 5.13%,
01/15/2042
|
69,223
|
|
|
111,000
|
Michaels Cos., Inc. 5.25%, 05/01/2028(1)
|
103,650
|
|
|
187,000
|
Staples, Inc. 10.75%, 09/01/2029(1)
|
181,218
|
|
|
466,000
|
Victra Holdings LLC/Victra Finance Corp.
8.75%, 09/15/2029(1)
|
494,441
|
|
|
|
|
|
1,347,872
|
|
|
Savings & Loans - 0.1%
|
||
|
GBP
200,000
|
Nationwide Building Society 7.88%,
12/20/2031, (7.88% fixed rate until
12/20/2031; 5 yr. U.K. Government
Bond + 3.59% thereafter)(4)(6)(7)
|
275,599
|
|
|
|
Semiconductors - 0.1%
|
||
|
|
Intel Corp.
|
|
|
|
$ 16,000
|
3.25%, 11/15/2049
|
10,661
|
|
|
177,000
|
5.60%, 02/21/2054
|
169,260
|
|
|
66,000
|
NVIDIA Corp. 3.50%, 04/01/2040
|
56,660
|
|
|
|
|
|
236,581
|
|
|
Software - 0.2%
|
||
|
159,000
|
Cloud Software Group, Inc. 9.00%,
09/30/2029(1)
|
164,460
|
|
|
20,000
|
Open Text Corp. 6.90%, 12/01/2027(1)
|
20,819
|
|
|
|
Rocket Software, Inc.
|
|
|
|
63,000
|
6.50%, 02/15/2029(1)
|
61,203
|
|
|
52,000
|
9.00%, 11/28/2028(1)
|
53,585
|
|
|
50,000
|
Synopsys, Inc. 5.00%, 04/01/2032
|
51,052
|
|
|
EUR
225,000
|
TeamSystem SpA 5.53%, 07/31/2031, 3
mo. EURIBOR + 3.50%(1)(4)
|
260,559
|
|
|
|
|
|
611,678
|
|
|
Telecommunications - 2.5%
|
||
|
|
Africell Holding Ltd.
|
|
|
|
$ 985,000
|
10.50%, 10/23/2029(6)
|
977,484
|
|
|
|
46
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 28.0% - (continued)
|
|||
|
|
Telecommunications - 2.5% - (continued)
|
||
|
$ 450,000
|
10.50%, 10/23/2029(1)
|
$446,707
|
|
|
|
Altice France SA
|
|
|
|
EUR
154,020
|
5.50%, 10/15/2031(6)
|
171,756
|
|
|
$ 20,000
|
6.50%, 03/15/2032(1)
|
19,149
|
|
|
EUR
307,010
|
7.25%, 11/01/2029(1)
|
354,362
|
|
|
|
AT&T, Inc.
|
|
|
|
$ 33,000
|
3.50%, 06/01/2041
|
26,110
|
|
|
39,000
|
3.85%, 06/01/2060
|
27,509
|
|
|
107,000
|
Bell Telephone Co. of Canada or Bell
Canada 7.00%, 09/15/2055, (7.00%
fixed rate until 06/15/2035; 5 yr. USD
CMT + 2.36% thereafter)(4)
|
112,461
|
|
|
123,000
|
EchoStar Corp. 6.75%, 11/30/2030(8)
|
126,925
|
|
|
EUR
300,000
|
Eolo SpA 4.88%, 10/21/2028(6)
|
315,896
|
|
|
|
Iliad Holding SAS
|
|
|
|
325,000
|
5.38%, 04/15/2030(6)
|
386,168
|
|
|
100,000
|
6.88%, 04/15/2031(6)
|
123,628
|
|
|
400,000
|
Kaixo Bondco Telecom SA 5.13%,
09/30/2029(6)
|
465,957
|
|
|
|
Level 3 Financing, Inc.
|
|
|
|
$ 89,000
|
3.88%, 10/15/2030(1)
|
79,738
|
|
|
46,000
|
4.50%, 04/01/2030(1)
|
42,493
|
|
|
EUR
100,000
|
Lorca Telecom Bondco SA 5.75%,
04/30/2029(6)
|
119,862
|
|
|
$ 400,000
|
Millicom International Cellular SA 4.50%,
04/27/2031(6)
|
373,632
|
|
|
EUR
100,000
|
Odido Group Holding BV 5.50%,
01/15/2030(6)
|
116,103
|
|
|
100,000
|
Odido Holding BV 3.75%, 01/15/2029(6)
|
114,936
|
|
|
$ 400,000
|
Silk Road Group Holding LLC 7.50%,
09/15/2030(1)
|
400,834
|
|
|
188,000
|
Telecom Argentina SA 9.25%,
05/28/2033(1)
|
191,276
|
|
|
174,000
|
TELUS Corp. 7.00%, 10/15/2055, (7.00%
fixed rate until 07/15/2035; 5 yr. USD
CMT + 2.71% thereafter)(4)
|
185,605
|
|
|
|
Veon Midco BV
|
|
|
|
600,000
|
3.38%, 11/25/2027(6)
|
561,860
|
|
|
200,000
|
9.00%, 07/15/2029(1)
|
207,889
|
|
|
395,000
|
WULF Compute LLC 7.75%, 10/15/2030(1)
|
410,356
|
|
|
|
|
|
6,358,696
|
|
|
Trucking & Leasing - 0.0%
|
||
|
57,000
|
Penske Truck Leasing Co. LP/PTL
Finance Corp. 5.35%, 01/12/2027(1)
|
57,632
|
|
|
|
Water - 0.4%
|
||
|
945,000
|
Aegea Finance SARL 7.63%,
01/20/2036(1)
|
921,331
|
|
|
|
Total Corporate Bonds
(cost $71,199,479)
|
$71,947,686
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 5.9%
|
|||
|
|
Angola - 0.2%
|
||
|
500,000
|
Angola Government International Bonds
8.00%, 11/26/2029(6)
|
$477,840
|
|
|
|
Argentina - 0.6%
|
||
|
1,654,000
|
Argentina Republic Government
International Bonds 4.13%,
07/09/2035(3)
|
1,158,627
|
|
|
260,000
|
Provincia de Cordoba 9.75%,
07/02/2032(1)
|
267,124
|
|
|
|
|
|
1,425,751
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 5.9% - (continued)
|
|||
|
|
Benin - 0.2%
|
||
|
$ 615,000
|
Benin Government International Bonds
7.96%, 02/13/2038(6)
|
$639,290
|
|
|
|
Brazil - 0.1%
|
||
|
BRL
430,000
|
Brazil Letras do Tesouro Nacional 0.00%,
07/01/2026(5)
|
73,167
|
|
|
1,205,000
|
Brazil Notas do Tesouro Nacional 10.00%,
01/01/2027
|
215,393
|
|
|
|
|
|
288,560
|
|
|
Bulgaria - 0.0%
|
||
|
EUR
15,000
|
Bulgaria Government International Bonds
1.38%, 09/23/2050(6)
|
10,154
|
|
|
|
Chile - 0.1%
|
||
|
|
Bonos de la Tesoreria de la Republica en
pesos
|
|
|
|
CLP
150,000,000
|
4.70%, 09/01/2030(6)
|
155,118
|
|
|
60,000,000
|
6.00%, 04/01/2033(6)
|
65,590
|
|
|
|
|
|
220,708
|
|
|
China - 0.2%
|
||
|
CNY
3,200,000
|
China Government Bonds 2.27%,
05/25/2034
|
467,519
|
|
|
|
Colombia - 0.5%
|
||
|
$ 1,100,000
|
Colombia Government International
Bonds 5.00%, 06/15/2045
|
842,050
|
|
|
|
Colombia TES
|
|
|
|
COP
761,300,000
|
6.25%, 07/09/2036
|
133,438
|
|
|
525,100,000
|
7.00%, 06/30/2032
|
107,870
|
|
|
184,100,000
|
7.25%, 10/18/2034
|
36,634
|
|
|
975,400,000
|
7.75%, 09/18/2030
|
220,570
|
|
|
|
|
|
1,340,562
|
|
|
Czech Republic - 0.0%
|
||
|
CZK
1,730,000
|
Czech Republic Government Bonds
2.50%, 08/25/2028(6)
|
79,542
|
|
|
|
Dominican Republic - 0.1%
|
||
|
DOP
8,000,000
|
Dominican Republic International Bonds
13.63%, 02/03/2033(6)
|
149,541
|
|
|
|
Gabon - 0.5%
|
||
|
$ 1,600,000
|
Gabon Government International Bonds
6.63%, 02/06/2031(6)
|
1,248,871
|
|
|
|
Hungary - 0.1%
|
||
|
|
Hungary Government Bonds
|
|
|
|
HUF
9,140,000
|
1.50%, 04/22/2026
|
26,635
|
|
|
40,200,000
|
3.00%, 08/21/2030
|
103,407
|
|
|
|
|
|
130,042
|
|
|
India - 0.2%
|
||
|
|
India Government Bonds
|
|
|
|
INR
7,940,000
|
6.10%, 07/12/2031
|
87,824
|
|
|
15,270,000
|
6.64%, 06/16/2035
|
170,975
|
|
|
6,530,000
|
6.79%, 12/02/2034
|
74,082
|
|
|
15,050,000
|
7.26%, 01/14/2029
|
174,934
|
|
|
|
|
|
507,815
|
|
|
Indonesia - 0.2%
|
||
|
|
Indonesia Treasury Bonds
|
|
|
|
IDR
5,781,000,000
|
7.00%, 09/15/2030
|
368,656
|
|
|
676,000,000
|
7.13%, 06/15/2038
|
43,312
|
|
|
1,676,000,000
|
8.38%, 09/15/2026
|
103,654
|
|
|
|
|
|
515,622
|
|
|
Ivory Coast - 0.2%
|
||
|
EUR
510,000
|
Ivory Coast Government International
Bonds 4.88%, 01/30/2032(6)
|
569,209
|
|
|
|
47
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 5.9% - (continued)
|
|||
|
|
Malaysia - 0.2%
|
||
|
|
Malaysia Government Bonds
|
|
|
|
MYR
655,000
|
3.83%, 07/05/2034
|
$159,426
|
|
|
1,213,000
|
4.76%, 04/07/2037
|
318,625
|
|
|
|
|
|
478,051
|
|
|
Mexico - 0.2%
|
||
|
|
Mexico Bonos
|
|
|
|
MXN
2,031,700
|
7.75%, 05/29/2031
|
106,779
|
|
|
420,300
|
7.75%, 11/23/2034
|
21,347
|
|
|
3,619,600
|
7.75%, 11/13/2042
|
168,099
|
|
|
2,168,900
|
8.00%, 05/24/2035
|
110,702
|
|
|
435,000
|
8.00%, 02/21/2036
|
22,101
|
|
|
1,093,300
|
8.50%, 03/01/2029
|
59,947
|
|
|
2,599,960
|
Mexico Cetes 0.00%, 09/02/2027(5)
|
122,574
|
|
|
$ 22,000
|
Mexico Government International Bonds
5.75%, 10/12/2110
|
19,323
|
|
|
|
|
|
630,872
|
|
|
Peru - 0.2%
|
||
|
|
Peru Government Bonds
|
|
|
|
PEN
296,000
|
5.40%, 08/12/2034
|
85,278
|
|
|
335,000
|
6.85%, 08/12/2035(6)
|
104,828
|
|
|
239,000
|
6.95%, 08/12/2031
|
77,699
|
|
|
568,000
|
7.60%, 08/12/2039(6)
|
183,369
|
|
|
|
|
|
451,174
|
|
|
Philippines - 0.0%
|
||
|
|
Philippines Government Bonds
|
|
|
|
PHP
1,630,000
|
6.25%, 03/22/2028
|
28,154
|
|
|
4,770,000
|
6.88%, 01/10/2029
|
84,031
|
|
|
|
|
|
112,185
|
|
|
Poland - 0.1%
|
||
|
|
Republic of Poland Government Bonds
|
|
|
|
PLN
649,000
|
3.75%, 05/25/2027
|
175,376
|
|
|
40,000
|
5.00%, 10/25/2034
|
10,666
|
|
|
|
|
|
186,042
|
|
|
Romania - 0.9%
|
||
|
|
Romania Government Bonds
|
|
|
|
RON
810,000
|
5.00%, 02/12/2029
|
173,661
|
|
|
405,000
|
7.10%, 07/31/2034
|
92,565
|
|
|
165,000
|
8.25%, 09/29/2032
|
39,927
|
|
|
|
Romania Government International Bonds
|
|
|
|
EUR
570,000
|
2.12%, 07/16/2031(6)
|
574,998
|
|
|
1,055,000
|
2.75%, 04/14/2041(6)
|
808,407
|
|
|
89,000
|
2.88%, 04/13/2042(6)
|
68,056
|
|
|
320,000
|
3.75%, 02/07/2034(6)
|
328,222
|
|
|
115,000
|
5.38%, 03/22/2031(1)
|
137,352
|
|
|
|
|
|
2,223,188
|
|
|
South Africa - 0.3%
|
||
|
|
Republic of South Africa Government
Bonds
|
|
|
|
ZAR
1,130,000
|
8.00%, 01/31/2030
|
65,797
|
|
|
7,953,000
|
8.75%, 01/31/2044
|
410,491
|
|
|
6,650,000
|
8.88%, 02/28/2035
|
383,976
|
|
|
|
|
|
860,264
|
|
|
Sri Lanka - 0.5%
|
||
|
|
Sri Lanka Government International
Bonds
|
|
|
|
$ 936,727
|
3.60%, 05/15/2036(1)(3)
|
854,668
|
|
|
523,273
|
3.60%, 02/15/2038(1)(3)
|
482,717
|
|
|
|
|
|
1,337,385
|
|
|
Supranational - 0.2%
|
||
|
INR
16,860,000
|
Asian Development Bank 6.20%,
10/06/2026
|
189,535
|
|
|
BRL
515,000
|
European Investment Bank 9.25%,
01/28/2027(6)
|
92,494
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 5.9% - (continued)
|
|||
|
|
Supranational - 0.2% - (continued)
|
||
|
|
International Bank for Reconstruction &
Development
|
|
|
|
MXN
2,160,000
|
5.65%, 06/03/2027
|
$112,180
|
|
|
900,000
|
7.25%, 01/21/2027
|
48,109
|
|
|
|
|
|
442,318
|
|
|
Thailand - 0.1%
|
||
|
|
Thailand Government Bonds
|
|
|
|
THB
3,346,000
|
1.60%, 06/17/2035
|
101,882
|
|
|
2,631,000
|
3.45%, 06/17/2043
|
95,111
|
|
|
2,672,000
|
3.78%, 06/25/2032
|
93,908
|
|
|
|
|
|
290,901
|
|
|
Uruguay - 0.0%
|
||
|
UYU
3,096,000
|
Uruguay Government International Bonds
9.75%, 07/20/2033
|
85,871
|
|
|
|
Total Foreign Government
Obligations
(cost $14,564,260)
|
|
$15,169,277
|
|
MUNICIPAL BONDS - 0.1%
|
|||
|
|
Higher Education - 0.1%
|
||
|
$ 365,000
|
Maricopa County Industrial Dev Auth, AZ,
Rev 7.38%, 10/01/2029(1)
|
$383,046
|
|
|
|
Total Municipal Bonds
(cost $373,243)
|
|
$383,046
|
|
SENIOR FLOATING RATE INTERESTS - 7.1%(11)
|
|||
|
|
Aerospace & Defense - 0.1%
|
||
|
|
Air Comm Corp. LLC
|
|
|
|
94,916
|
6.72%, 12/11/2031, 1 mo. USD Term
SOFR + 2.75%
|
$94,857
|
|
|
4,615
|
6.74%, 12/11/2031, 3 mo. USD Term
SOFR + 2.75%(12)
|
4,613
|
|
|
99,500
|
Barnes Group, Inc. 6.71%, 01/27/2032,
1 mo. USD Term SOFR + 2.75%
|
99,376
|
|
|
175,000
|
TransDigm, Inc. 6.50%, 08/19/2032, 3 mo.
USD Term SOFR + 2.50%
|
175,038
|
|
|
|
|
|
373,884
|
|
|
Airlines - 0.2%
|
||
|
99,500
|
American Airlines, Inc. 7.13%,
05/28/2032, 3 mo. USD Term SOFR +
3.25%
|
99,799
|
|
|
148,500
|
AS Mileage Plan IP Ltd. 5.63%,
10/15/2031, 3 mo. USD Term SOFR +
1.75%
|
148,871
|
|
|
248,120
|
JetBlue Airways Corp. 8.75%, 08/27/2029,
3 mo. USD Term SOFR + 4.75%
|
235,342
|
|
|
99,000
|
Vista Management Holding, Inc. 7.74%,
04/01/2031, 3 mo. USD Term SOFR +
3.75%
|
99,619
|
|
|
|
|
|
583,631
|
|
|
Apparel - 0.1%
|
||
|
199,000
|
Hanesbrands, Inc. 6.71%, 03/07/2032,
1 mo. USD Term SOFR + 2.75%
|
199,332
|
|
|
|
Auto Parts & Equipment - 0.1%
|
||
|
130,000
|
Clarios Global LP 6.71%, 01/28/2032,
1 mo. USD Term SOFR + 2.75%
|
130,285
|
|
|
|
48
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 7.1%(11) - (continued)
|
|||
|
|
Chemicals - 0.1%
|
||
|
$ 100,000
|
Olympus Water U.S. Holding Corp. 7.29%,
07/23/2032, 1 mo. USD Term SOFR +
3.25%
|
$99,500
|
|
|
125,000
|
Qnity Electronics, Inc. 5.98%, 08/12/2032,
1 mo. USD Term SOFR + 2.00%
|
124,922
|
|
|
|
|
|
224,422
|
|
|
Commercial Services - 0.9%
|
||
|
155,000
|
Allied Universal Holdco LLC 7.31%,
08/20/2032, 1 mo. USD Term SOFR +
3.25%
|
155,547
|
|
|
282,903
|
Belron Finance 2019 LLC 6.74%,
10/16/2031, 3 mo. USD Term SOFR +
2.25%
|
284,083
|
|
|
|
Citrin Cooperman Advisors LLC
|
|
|
|
13,939
|
6.99%, 04/01/2032, 3 mo. USD Term
SOFR + 3.00%
|
13,934
|
|
|
216,061
|
7.00%, 04/01/2032, 3 mo. USD Term
SOFR + 3.00%
|
215,970
|
|
|
130,562
|
Corp. Service Co. 5.96%, 11/02/2029,
1 mo. USD Term SOFR + 2.00%
|
129,828
|
|
|
99,495
|
Ensemble RCM LLC 6.84%, 08/01/2029,
3 mo. USD Term SOFR + 3.00%
|
99,852
|
|
|
200,735
|
First Advantage Holdings LLC 6.71%,
10/31/2031, 1 mo. USD Term SOFR +
2.75%
|
194,963
|
|
|
199,500
|
Fugue Finance BV 6.95%, 01/09/2032,
3 mo. USD Term SOFR + 2.75%
|
199,749
|
|
|
99,250
|
PG Investment Co. 59 SARL 6.71%,
03/26/2031, 1 mo. USD Term SOFR +
2.75%
|
99,548
|
|
|
198,489
|
Ryan LLC 7.46%, 11/14/2030, 1 mo. USD
Term SOFR + 3.50%
|
197,496
|
|
|
EUR
250,000
|
Techem Verwaltungsgesellschaft 675
GmbH 5.27%, 07/15/2032, 3 mo.
EURIBOR + 3.25%
|
289,797
|
|
|
$ 289,252
|
Trans Union LLC 5.71%, 06/24/2031,
1 mo. USD Term SOFR + 1.75%
|
288,891
|
|
|
EUR
125,000
|
Verisure Holding AB 5.00%, 03/27/2028, 3
mo. EURIBOR + 3.00%
|
144,200
|
|
|
|
|
|
2,313,858
|
|
|
Construction Materials - 0.3%
|
||
|
$ 249,375
|
Chamberlain Group, Inc. 6.96%,
09/08/2032, 1 mo. USD Term SOFR +
3.00%
|
249,999
|
|
|
|
Emerald Borrower LP
|
|
|
|
99,002
|
6.12%, 08/04/2031, 6 mo. USD Term
SOFR + 2.25%
|
98,583
|
|
|
178,678
|
6.45%, 05/31/2030, 3 mo. USD Term
SOFR + 2.25%
|
178,137
|
|
|
199,000
|
Quikrete Holdings, Inc. 6.21%,
02/10/2032, 1 mo. USD Term SOFR +
2.25%
|
199,177
|
|
|
|
|
|
725,896
|
|
|
Distribution/Wholesale - 0.2%
|
||
|
191,742
|
American Builders & Contractors Supply
Co., Inc. 5.71%, 01/31/2031, 1 mo.
USD Term SOFR + 1.75%
|
192,388
|
|
|
99,000
|
Core & Main LP 5.99%, 02/09/2031, 1 mo.
USD Term SOFR + 2.00%
|
98,794
|
|
|
100,000
|
Gloves Buyer, Inc. 7.96%, 05/21/2032,
1 mo. USD Term SOFR + 4.00%
|
98,406
|
|
|
|
|
|
389,588
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 7.1%(11) - (continued)
|
|||
|
|
Diversified Financial Services - 0.2%
|
||
|
$ 140,000
|
Advisor Group, Inc. 6.96%, 07/30/2032,
1 mo. USD Term SOFR + 3.00%
|
$140,175
|
|
|
120,000
|
CFC Bidco 2022 Ltd. 7.74%, 07/01/2032,
3 mo. USD Term SOFR + 3.75%
|
117,150
|
|
|
139,650
|
HighTower Holdings LLC 7.07%,
02/03/2032, 3 mo. USD Term SOFR +
2.75%
|
139,475
|
|
|
|
|
|
396,800
|
|
|
Electric - 0.1%
|
||
|
123,741
|
Vistra Operations Co. LLC 5.71%,
12/20/2030, 1 mo. USD Term SOFR +
1.75%
|
123,906
|
|
|
|
Electronics - 0.2%
|
||
|
324,187
|
LSF12 Crown U.S. Commercial Bidco LLC
7.66%, 12/02/2031, 1 mo. USD Term
SOFR + 3.50%
|
325,909
|
|
|
140,000
|
Sanmina Corp. 5.99%, 08/06/2032, 1 mo.
USD Term SOFR + 2.00%
|
140,000
|
|
|
|
|
|
465,909
|
|
|
Engineering & Construction - 0.2%
|
||
|
100,000
|
Blackfin Pipeline LLC 7.00%, 10/01/2032,
1 mo. USD Term SOFR + 3.00%
|
99,875
|
|
|
129,347
|
Brown Group Holding LLC 6.73%,
07/01/2031, 1 mo. USD Term SOFR +
2.75%
|
129,832
|
|
|
204,487
|
Newly Weds Foods, Inc. 6.28%,
03/15/2032, 1 mo. USD Term SOFR +
2.25%
|
203,720
|
|
|
154,613
|
Tecta America Corp. 6.97%, 02/18/2032,
1 mo. USD Term SOFR + 3.00%
|
154,999
|
|
|
|
|
|
588,426
|
|
|
Entertainment - 0.2%
|
||
|
99,750
|
EOC Borrower LLC 6.96%, 03/24/2032,
1 mo. USD Term SOFR + 3.00%
|
100,124
|
|
|
99,750
|
Flutter Financing BV 6.00%, 06/04/2032,
3 mo. USD Term SOFR + 2.00%
|
99,126
|
|
|
110,135
|
Great Canadian Gaming Corp. 8.75%,
11/01/2029, 3 mo. USD Term SOFR +
4.75%
|
109,309
|
|
|
323,564
|
TKO Worldwide Holdings LLC 6.04%,
11/21/2031, 3 mo. USD Term SOFR +
2.00%
|
324,218
|
|
|
|
|
|
632,777
|
|
|
Food - 0.2%
|
||
|
250,000
|
Chobani LLC 6.24%, 10/22/2032, 1 mo.
USD Term SOFR + 2.25%
|
250,470
|
|
|
120,000
|
Froneri Lux Finco SARL 6.46%,
07/16/2032, 1 mo. USD Term SOFR +
2.50%
|
119,911
|
|
|
194,756
|
U.S. Foods, Inc. 5.71%, 11/22/2028, 1 mo.
USD Term SOFR + 1.75%
|
195,757
|
|
|
|
|
|
566,138
|
|
|
Food Service - 0.1%
|
||
|
250,000
|
Aramark Services, Inc. 5.71%,
04/06/2028, 1 mo. USD Term SOFR +
1.75%
|
250,053
|
|
|
99,002
|
Golden State Foods LLC 8.16%,
12/04/2031, 1 mo. USD Term SOFR +
4.00%
|
99,243
|
|
|
|
|
|
349,296
|
|
|
49
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 7.1%(11) - (continued)
|
|||
|
|
Healthcare - Products - 0.3%
|
||
|
$ 98,000
|
Bausch & Lomb Corp. 7.96%, 09/29/2028,
1 mo. USD Term SOFR + 4.00%
|
$98,184
|
|
|
|
Hanger, Inc.
|
|
|
|
13,108
|
4.09%, 10/23/2031, 1 mo. USD Term
SOFR + 3.50%(12)
|
13,134
|
|
|
101,373
|
7.46%, 10/23/2031, 1 mo. USD Term
SOFR + 3.50%
|
101,576
|
|
|
98,711
|
Insulet Corp. 5.96%, 08/01/2031, 1 mo.
USD Term SOFR + 2.00%
|
99,214
|
|
|
365,403
|
Medline Borrower LP 5.96%, 10/23/2028,
1 mo. USD Term SOFR + 2.00%
|
365,702
|
|
|
|
|
|
677,810
|
|
|
Healthcare - Services - 0.1%
|
||
|
148,867
|
Star Parent, Inc. 8.00%, 09/27/2030,
3 mo. USD Term SOFR + 4.00%
|
149,066
|
|
|
|
Home Builders - 0.0%
|
||
|
111,018
|
Installed Building Products, Inc. 5.71%,
03/28/2031, 1 mo. USD Term SOFR +
1.75%
|
111,018
|
|
|
|
Home Furnishings - 0.1%
|
||
|
212,871
|
Somnigroup International, Inc. 6.21%,
10/24/2031, 1 mo. USD Term SOFR +
2.25%
|
213,846
|
|
|
|
Insurance - 0.5%
|
||
|
184,537
|
Acrisure LLC 7.21%, 06/21/2032, 1 mo.
USD Term SOFR + 3.25%
|
184,480
|
|
|
100,000
|
Alera Group, Inc. 7.21%, 05/31/2032,
1 mo. USD Term SOFR + 3.25%
|
100,478
|
|
|
99,250
|
AmWINS Group, Inc. 6.25%, 01/30/2032,
3 mo. USD Term SOFR + 2.25%
|
99,353
|
|
|
195,489
|
Asurion LLC 8.33%, 08/19/2028, 1 mo.
USD Term SOFR + 4.25%
|
196,065
|
|
|
280,874
|
HUB International Ltd. 6.12%, 06/20/2030,
3 mo. USD Term SOFR + 2.25%
|
281,742
|
|
|
199,500
|
Sedgwick Claims Management Services,
Inc. 6.46%, 07/31/2031, 1 mo. USD
Term SOFR + 2.50%
|
199,412
|
|
|
245,000
|
Truist Insurance Holdings LLC 6.75%,
05/06/2031, 3 mo. USD Term SOFR +
2.75%
|
244,562
|
|
|
|
|
|
1,306,092
|
|
|
Internet - 0.2%
|
||
|
139,534
|
Go Daddy Operating Co. LLC 5.71%,
11/09/2029, 1 mo. USD Term SOFR +
1.75%
|
139,237
|
|
|
|
MH Sub I LLC
|
|
|
|
43,998
|
8.21%, 12/31/2031, 1 mo. USD Term
SOFR + 4.25%
|
35,110
|
|
|
65,005
|
8.25%, 05/03/2028, 3 mo. USD Term
SOFR + 4.25%
|
58,968
|
|
|
168,496
|
Proofpoint, Inc. 6.96%, 08/31/2028, 1 mo.
USD Term SOFR + 3.00%
|
169,105
|
|
|
104,476
|
Speedster Bidco GmbH 7.24%,
12/10/2031, 3 mo. USD Term SOFR +
3.25%
|
104,606
|
|
|
|
|
|
507,026
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 7.1%(11) - (continued)
|
|||
|
|
Investment Company Security - 0.1%
|
||
|
$ 198,500
|
Dragon Buyer, Inc. 6.75%, 09/30/2031,
3 mo. USD Term SOFR + 2.75%
|
$198,947
|
|
|
100,000
|
Gryphon Acquire Newco LLC 6.85%,
09/13/2032, 6 mo. USD Term SOFR +
3.00%
|
100,438
|
|
|
|
|
|
299,385
|
|
|
IT Services - 0.4%
|
||
|
241,983
|
Fortress Intermediate 3, Inc. 7.11%,
06/27/2031, 1 mo. USD Term SOFR +
3.00%
|
242,286
|
|
|
194,025
|
Kaseya, Inc. 7.21%, 03/20/2032, 1 mo.
USD Term SOFR + 3.25%
|
193,924
|
|
|
250,017
|
McAfee LLC 6.96%, 03/01/2029, 1 mo.
USD Term SOFR + 3.00%
|
236,474
|
|
|
175,000
|
Sandisk Corp. 6.86%, 02/20/2032, 3 mo.
USD Term SOFR + 3.00%
|
175,110
|
|
|
166,521
|
Surf Holdings LLC 7.58%, 03/05/2027,
1 mo. USD Term SOFR + 3.50%
|
166,591
|
|
|
|
|
|
1,014,385
|
|
|
Leisure Time - 0.1%
|
||
|
190,778
|
Hayward Industries, Inc. 6.58%,
05/30/2028, 1 mo. USD Term SOFR +
2.50%
|
191,255
|
|
|
109,173
|
LC AHAB U.S. Bidco LLC 6.96%,
05/01/2031, 1 mo. USD Term SOFR +
3.00%
|
109,310
|
|
|
|
|
|
300,565
|
|
|
Media - 0.1%
|
||
|
220,000
|
Sunrise Financing Partnership 6.43%,
02/15/2032, 3 mo. USD Term SOFR +
2.50%
|
219,450
|
|
|
|
Mining - 0.0%
|
||
|
119,400
|
Novelis Corp. 5.75%, 03/11/2032, 3 mo.
USD Term SOFR + 1.75%
|
119,654
|
|
|
|
Miscellaneous Manufacturing - 0.0%
|
||
|
99,500
|
John Bean Technologies Corp. 5.71%,
01/02/2032, 1 mo. USD Term SOFR +
1.75%
|
99,345
|
|
|
|
Packaging & Containers - 0.6%
|
||
|
460,267
|
Clydesdale Acquisition Holdings, Inc.
7.14%, 04/13/2029, 1 mo. USD Term
SOFR + 3.18%
|
459,908
|
|
|
435,000
|
Owens-Illinois, Inc. 6.96%, 09/30/2032,
1 mo. USD Term SOFR + 3.00%
|
433,730
|
|
|
414,891
|
Proampac PG Borrower LLC 8.03%,
09/15/2028, 3 mo. USD Term SOFR +
4.00%
|
414,136
|
|
|
104,186
|
TricorBraun Holdings, Inc. 7.21%,
03/03/2031, 1 mo. USD Term SOFR +
3.25%
|
103,614
|
|
|
|
|
|
1,411,388
|
|
|
Pharmaceuticals - 0.2%
|
||
|
100,000
|
Amneal Pharmaceuticals LLC 7.46%,
08/01/2032, 1 mo. USD Term SOFR +
3.50%
|
100,708
|
|
|
199,500
|
Bausch Health Cos., Inc. 10.21%,
10/08/2030, 1 mo. USD Term SOFR +
6.25%
|
197,930
|
|
|
EUR
290,000
|
IVC Acquisition Ltd. 6.03%, 12/12/2028, 3
mo. EURIBOR + 4.00%
|
333,687
|
|
|
|
|
|
632,325
|
|
|
50
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 7.1%(11) - (continued)
|
|||
|
|
Pipelines - 0.1%
|
||
|
$ 175,000
|
Colossus Acquireco LLC 5.87%,
07/30/2032, 3 mo. USD Term SOFR +
1.75%
|
$174,125
|
|
|
100,000
|
Whitewater Matterhorn Holdings LLC
6.31%, 06/16/2032, 3 mo. USD Term
SOFR + 2.25%
|
100,016
|
|
|
|
|
|
274,141
|
|
|
Retail - 0.5%
|
||
|
308,799
|
Flynn Restaurant Group LP 7.71%,
01/28/2032, 1 mo. USD Term SOFR +
3.75%
|
309,812
|
|
|
158,800
|
Great Outdoors Group LLC 7.21%,
01/23/2032, 1 mo. USD Term SOFR +
3.25%
|
158,635
|
|
|
198,500
|
IRB Holding Corp. 6.46%, 12/15/2027,
1 mo. USD Term SOFR + 2.50%
|
198,740
|
|
|
339,327
|
LBM Acquisition LLC 7.88%, 06/06/2031,
1 mo. USD Term SOFR + 3.75%
|
327,097
|
|
|
|
QXO, Inc.
|
|
|
|
150,000
|
5.99%, 04/30/2032, 1 mo. USD Term
SOFR + 2.00%
|
150,000
|
|
|
47,222
|
6.96%, 04/30/2032, 1 mo. USD Term
SOFR + 3.00%
|
47,254
|
|
|
123,718
|
Specialty Building Products Holdings LLC
7.81%, 10/15/2028, 1 mo. USD Term
SOFR + 3.75%
|
118,361
|
|
|
|
|
|
1,309,899
|
|
|
Semiconductors - 0.0%
|
||
|
110,130
|
MKS Instruments, Inc. 5.98%, 08/17/2029,
1 mo. USD Term SOFR + 2.00%
|
110,189
|
|
|
|
Software - 0.5%
|
||
|
149,625
|
BCPE Pequod Buyer, Inc. 6.96%,
11/25/2031, 1 mo. USD Term SOFR +
3.00%
|
149,999
|
|
|
199,500
|
Cotiviti Corp. 6.88%, 03/26/2032, 1 mo.
USD Term SOFR + 2.75%
|
191,582
|
|
|
250,000
|
Dayforce, Inc. 7.02%, 10/07/2032, 1 mo.
USD Term SOFR + 3.00%
|
249,063
|
|
|
149,625
|
Project Boost Purchaser LLC 6.61%,
07/16/2031, 3 mo. USD Term SOFR +
2.75%
|
149,212
|
|
|
99,750
|
Rocket Software, Inc. 7.71%, 11/28/2028,
1 mo. USD Term SOFR + 3.75%
|
99,278
|
|
|
124,938
|
Waystar Technologies, Inc. 5.96%,
10/22/2029, 1 mo. USD Term SOFR +
2.00%
|
124,834
|
|
|
191,565
|
Zelis Payments Buyer, Inc. 6.71%,
09/28/2029, 1 mo. USD Term SOFR +
2.75%
|
188,408
|
|
|
|
|
|
1,152,376
|
|
|
Transportation - 0.1%
|
||
|
184,934
|
First Student Bidco, Inc. 6.71%,
08/15/2030, 3 mo. USD Term SOFR +
2.50%
|
185,062
|
|
|
|
Total Senior Floating Rate Interests
(cost $18,151,146)
|
$18,157,170
|
|
|
U.S. GOVERNMENT AGENCIES - 8.9%
|
|||
|
|
Mortgage-Backed Agencies - 8.9%
|
||
|
|
Federal Home Loan Mortgage Corp. - 1.0%
|
||
|
275,783
|
5.00%, 09/01/2052
|
$275,704
|
|
|
55,000
|
7.58%, 10/25/2041, 30 day USD SOFR
Average + 3.40%(1)(4)
|
56,168
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 8.9% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 8.9% - (continued)
|
||
|
|
Federal Home Loan Mortgage Corp. - 1.0% - (continued)
|
||
|
$ 1,150
|
8.38%, 12/31/2027(4)(7)(13)
|
$18,400
|
|
|
125,000
|
8.43%, 05/25/2044, 30 day USD SOFR
Average + 4.25%(1)(4)
|
130,527
|
|
|
275,000
|
11.03%, 11/25/2051, 30 day USD
SOFR Average + 6.85%(1)(4)
|
291,536
|
|
|
380,000
|
11.28%, 01/25/2042, 30 day USD
SOFR Average + 7.10%(1)(4)
|
402,258
|
|
|
280,000
|
11.90%, 03/25/2050, 30 day USD
SOFR Average + 7.71%(1)(4)
|
343,253
|
|
|
710,000
|
11.98%, 11/25/2041, 30 day USD
SOFR Average + 7.80%(1)(4)
|
752,775
|
|
|
250,000
|
13.43%, 05/25/2043, 30 day USD
SOFR Average + 9.25%(1)(4)
|
288,431
|
|
|
|
|
|
2,559,052
|
|
|
Federal National Mortgage Association - 0.1%
|
||
|
266,792
|
5.00%, 09/01/2052
|
266,728
|
|
|
1,100
|
8.25%, 12/31/2025(4)(7)(13)
|
18,502
|
|
|
|
|
|
285,230
|
|
|
Tennessee Valley Authority Power - 0.0%
|
||
|
83,000
|
4.88%, 05/15/2035
|
86,185
|
|
|
|
Uniform Mortgage-Backed Security - 7.8%
|
||
|
7,685,000
|
5.50%, 11/01/2054(14)
|
7,764,130
|
|
|
7,685,000
|
5.50%, 12/01/2054(14)
|
7,758,726
|
|
|
2,120,000
|
6.00%, 11/01/2054(14)
|
2,167,821
|
|
|
2,115,000
|
6.00%, 12/01/2054(14)
|
2,162,295
|
|
|
|
|
|
19,852,972
|
|
|
Total U.S. Government Agencies
(cost $22,790,958)
|
|
$22,783,439
|
|
U.S. GOVERNMENT SECURITIES - 31.7%
|
|||
|
|
U.S. Treasury Securities - 31.7%
|
||
|
|
U.S. Treasury Bonds - 7.3%
|
||
|
1,525,000
|
1.88%, 02/15/2051
|
$881,581
|
|
|
2,300,000
|
1.88%, 11/15/2051
|
1,316,481
|
|
|
1,240,000
|
2.25%, 08/15/2046
|
836,758
|
|
|
450,000
|
2.38%, 05/15/2051
|
292,781
|
|
|
2,225,000
|
3.13%, 08/15/2044
|
1,799,556
|
|
|
1,925,000
|
3.38%, 11/15/2048(15)
|
1,561,581
|
|
|
470,000
|
3.63%, 08/15/2043
|
413,306
|
|
|
1,615,000
|
4.13%, 08/15/2044
|
1,511,602
|
|
|
290,000
|
4.25%, 08/15/2054
|
270,402
|
|
|
2,125,000
|
4.50%, 11/15/2054(16)
|
2,066,646
|
|
|
675,000
|
4.63%, 02/15/2055
|
670,043
|
|
|
850,000
|
4.75%, 02/15/2045
|
861,820
|
|
|
1,649,800
|
4.75%, 05/15/2055
|
1,671,454
|
|
|
975,000
|
4.75%, 08/15/2055
|
988,254
|
|
|
1,975,000
|
4.88%, 08/15/2045
|
2,034,250
|
|
|
1,568,200
|
5.00%, 05/15/2045
|
1,641,219
|
|
|
|
|
|
18,817,734
|
|
|
U.S. Treasury Inflation-Indexed Bonds - 2.1%
|
||
|
1,411,222
|
0.25%, 02/15/2050(17)
|
846,452
|
|
|
627,010
|
0.63%, 02/15/2043(17)
|
480,170
|
|
|
2,494,534
|
0.75%, 02/15/2042(17)
|
1,991,070
|
|
|
1,430,707
|
0.75%, 02/15/2045(17)
|
1,078,286
|
|
|
594,723
|
1.00%, 02/15/2046(17)
|
463,541
|
|
|
507,339
|
1.38%, 02/15/2044(17)
|
437,596
|
|
|
|
|
|
5,297,115
|
|
|
U.S. Treasury Inflation-Indexed Notes - 1.0%
|
||
|
1,628,214
|
1.75%, 01/15/2034(17)
|
1,634,309
|
|
|
948,338
|
1.88%, 07/15/2035(17)
|
956,127
|
|
|
|
|
|
2,590,436
|
|
|
51
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT SECURITIES - 31.7% - (continued)
|
|||
|
|
U.S. Treasury Securities - 31.7% - (continued)
|
||
|
|
U.S. Treasury Notes - 21.3%
|
||
|
$ 3,550,000
|
1.25%, 06/30/2028
|
$3,340,189
|
|
|
4,500,000
|
2.38%, 05/15/2029
|
4,313,145
|
|
|
5,865,000
|
3.38%, 09/15/2028
|
5,829,260
|
|
|
2,250,000
|
3.38%, 05/15/2033
|
2,169,229
|
|
|
1,850,000
|
3.50%, 09/30/2027
|
1,846,459
|
|
|
5,625,000
|
3.50%, 01/31/2030
|
5,586,108
|
|
|
555,000
|
3.75%, 04/15/2028
|
556,908
|
|
|
1,255,000
|
3.88%, 06/15/2028
|
1,263,873
|
|
|
5,800,000
|
4.00%, 02/28/2030
|
5,873,859
|
|
|
4,655,000
|
4.00%, 06/30/2032
|
4,691,185
|
|
|
4,105,000
|
4.00%, 07/31/2032
|
4,134,665
|
|
|
1,250,000
|
4.00%, 02/15/2034
|
1,250,830
|
|
|
4,900,000
|
4.25%, 11/15/2034(15)(16)
|
4,974,266
|
|
|
5,301,700
|
4.25%, 05/15/2035
|
5,372,942
|
|
|
230,000
|
4.25%, 08/15/2035
|
232,875
|
|
|
3,100,000
|
4.50%, 04/15/2027
|
3,136,570
|
|
|
|
|
|
54,572,363
|
|
|
Total U.S. Government Securities
(cost $81,400,416)
|
|
$81,277,648
|
|
COMMON STOCKS - 0.0%
|
|||
|
|
Automobiles & Components - 0.0%
|
||
|
83
|
Aptiv PLC*
|
$6,731
|
|
|
|
Capital Goods - 0.0%
|
||
|
23
|
Middleby Corp.*
|
2,857
|
|
|
|
Financial Services - 0.0%
|
||
|
33,932
|
Unifin Financiera SAB de CV*(2)(18)
|
1,770
|
|
|
250,000
|
Unifin Financiera SAB de CV*(2)(9)(18)
|
25,000
|
|
|
|
|
|
26,770
|
|
|
Food, Beverage & Tobacco - 0.0%
|
||
|
1,551
|
Luxco Co. Ltd.*
|
25,714
|
|
|
|
Health Care Equipment & Services - 0.0%
|
||
|
17
|
Becton Dickinson & Co.
|
3,038
|
|
|
|
Utilities - 0.0%
|
||
|
598
|
NextEra Energy, Inc.
|
48,677
|
|
|
|
Total Common Stocks
(cost $106,834)
|
|
$113,787
|
|
PREFERRED STOCKS - 0.9%
|
|||
|
|
Banks - 0.1%
|
||
|
117
|
Bank of America Corp. Series L, 7.25%(13)
|
$147,537
|
|
|
7,375
|
Citizens Financial Group, Inc. Series I,
6.50%*(13)
|
187,104
|
|
|
|
|
|
334,641
|
|
|
Capital Goods - 0.1%
|
||
|
4,858
|
Boeing Co. (Preference Shares), 6.00%
|
314,410
|
|
|
|
Financial Services - 0.3%
|
||
|
7,854
|
Ares Management Corp. Series B, 6.75%
|
371,416
|
|
|
2,980
|
Corebridge Financial, Inc. (Preference
Shares), 6.38%
|
73,904
|
|
|
5,094
|
Morgan Stanley Series Q, 6.63%(13)
|
133,259
|
|
|
7,079
|
Synchrony Financial Series B, 8.25%(13)
|
186,956
|
|
|
|
|
|
765,535
|
|
|
Insurance - 0.1%
|
||
|
3,154
|
Brighthouse Financial, Inc. Series C,
5.38%(13)
|
40,213
|
|
|
3,329
|
Enstar Group Ltd. Series D, 7.00%(13)(19)
|
79,896
|
|
|
|
|
|
120,109
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
PREFERRED STOCKS - 0.9% - (continued)
|
|||
|
|
Telecommunication Services - 0.1%
|
||
|
2,063
|
T-Mobile USA, Inc. (Preference Shares),
6.25%
|
$51,513
|
|
|
2,325
|
T-Mobile USA, Inc. (Preference Shares),
5.50%
|
53,963
|
|
|
2,182
|
T-Mobile USA, Inc. (Preference Shares),
5.50%
|
50,317
|
|
|
|
|
|
155,793
|
|
|
Utilities - 0.2%
|
||
|
8,775
|
DTE Energy Co. Series H, 6.25%*
|
220,604
|
|
|
2,200
|
NextEra Energy, Inc. (Preference Shares),
7.30%
|
115,566
|
|
|
892
|
PG&E Corp. Series A, 6.00%
|
36,661
|
|
|
636
|
Sempra (Preference Shares), 5.75%
|
14,437
|
|
|
5,765
|
Southern Co. (Preference Shares), 6.50%
|
148,795
|
|
|
|
|
|
536,063
|
|
|
Total Preferred Stocks
(cost $2,172,082)
|
|
$2,226,551
|
|
WARRANTS - 0.0%
|
|||
|
|
Semiconductors & Semiconductor Equipment - 0.0%
|
||
|
1,500
|
Maxeon Solar Technologies Ltd. Expires
01/15/2028*(2)(18)
|
$594
|
|
|
|
Total Warrants
(cost $—)
|
|
$594
|
|
|
Total Long-Term Investments
(cost $269,422,796)
|
|
$272,213,997
|
|
SHORT-TERM INVESTMENTS - 0.3%
|
|||
|
|
U.S. Treasury Securities - 0.3%
|
||
|
|
U.S. Treasury Bills - 0.3%
|
||
|
$ 640,000
|
3.87%, 12/04/2025(20)
|
$637,691
|
|
|
|
Total Short-Term Investments
(cost $637,691)
|
$637,691
|
|
|
|
Total Investments
(cost $270,060,487)
|
106.4
%
|
$272,851,688
|
|
|
Other Assets and Liabilities
|
(6.4
)%
|
(16,376,518
)
|
|
|
Net Assets
|
100.0
%
|
$256,475,170
|
|
*
|
Non-income producing.
|
|
(1)
|
Security was purchased pursuant to Rule 144A under the Securities Act of 1933
and may be sold in transactions that are exempt from registration (typically only
to
qualified institutional buyers) or in a public offering registered under the Securities
Act of 1933. At October 31, 2025, the aggregate value of these securities was
$84,319,059, representing 32.9% of net assets.
|
|
|
52
|
|
|
(2)
|
Investment valued using significant unobservable inputs.
|
|
(3)
|
Security is a “step-up” bond where coupon increases or steps up at a
predetermined date. Rate shown is current coupon rate.
|
|
(4)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. 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 the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(5)
|
Security is a zero-coupon bond.
|
|
(6)
|
Security is exempt from registration under Regulation S under the Securities Act of
1933, which exempts from registration securities offered and sold outside of the
United States. Security may not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933. At October 31, 2025, the aggregate
value of these securities was $34,827,488, representing 13.6% of net assets.
|
|
(7)
|
Perpetual maturity security. Maturity date shown is the next call date or final legal
maturity date, whichever comes first.
|
|
(8)
|
Security has the ability to pay in kind (“PIK”) or pay income in cash. When
applicable, separate rates of such payments are disclosed.
|
|
(9)
|
Share amount represents shares of the issuer previously held that resulted in
receipt of the escrow.
|
|
(10)
|
Non-income producing. For long-term debt securities, items identified are in default
as to payment of interest and/or principal.
|
|
(11)
|
Senior floating rate interests generally pay interest rates which are periodically
adjusted by reference to a base short-term, floating lending rate plus a premium.
The base lending rates are primarily the Secured Overnight Financing Rate
("SOFR") and secondarily, the prime rate offered by one or more major
United States banks (the "Prime Rate"). Senior floating rate interests often require
prepayments from excess cash flows or permit the borrower to repay at its
election. The rate at which the borrower repays cannot be predicted with accuracy.
As a result, the actual remaining maturity may be substantially less than the stated
maturities shown. Base lending rates may be subject to a floor or cap. Unless
otherwise noted, the interest rate disclosed for these securities represents the rate
in effect as of October 31, 2025.
|
|
(12)
|
This security, or a portion of this security, has unfunded loan commitments. As of
October 31, 2025, the aggregate value of the unfunded commitment was $17,747,
which represents to 0.0% of total net assets.
|
|
(13)
|
Perpetual security with no stated maturity date.
|
|
(14)
|
Represents or includes a TBA transaction.
|
|
(15)
|
All, or a portion of the security, was pledged as collateral in connection with
centrally cleared swap contracts. As of October 31, 2025, the market value of
securities pledged was $1,550,555.
|
|
(16)
|
All, or a portion of the security, was pledged as collateral in connection with
futures contracts. As of October 31, 2025, the market value of securities pledged
was $1,787,920.
|
|
(17)
|
The principal amount for these securities are adjusted for inflation and the interest
payments equal a fixed percentage of the inflation-adjusted principal amount.
|
|
(18)
|
Investment in securities not registered under the Securities Act of 1933 (excluding
securities acquired pursuant to Rule 144A and Regulation S). At the end of the
period, the value of such restricted securities amounted to $27,364 or 0.0% of net
assets.
|
|
Period
Acquired
|
Security Name
|
Shares/
Par Value
|
Total Cost
|
Market Value
|
|
06/2024
|
Maxeon Solar
Technologies Ltd.
Expires 01/15/2028
Warrants
|
1,500
|
$—
|
$594
|
|
08/2024
|
Unifin Financiera SAB de
CV
|
250,000
|
7,500
|
25,000
|
|
08/2024
|
Unifin Financiera SAB de
CV
|
33,932
|
7,500
|
1,770
|
|
|
|
|
$15,000
|
$27,364
|
|
(19)
|
Currently no rate available.
|
|
(20)
|
The rate shown represents current yield to maturity.
|
|
Futures Contracts Outstanding at October 31, 2025
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Long position contracts:
|
||||
|
Australian 10-Year Bond Future
|
89
|
12/15/2025
|
$6,619,501
|
$2,633
|
|
Canadian 10-Year Bond Future
|
27
|
12/18/2025
|
2,365,571
|
58,101
|
|
U.S. Treasury 2-Year Note Future
|
53
|
12/31/2025
|
11,036,836
|
(29,575
)
|
|
U.S. Treasury 5-Year Note Future
|
234
|
12/31/2025
|
25,555,359
|
(107,970
)
|
|
U.S. Treasury 10-Year Note Future
|
204
|
12/19/2025
|
22,985,062
|
(45,905
)
|
|
U.S. Treasury 10-Year Ultra Future
|
63
|
12/19/2025
|
7,275,516
|
42,830
|
|
U.S. Treasury Long Bond Future
|
31
|
12/19/2025
|
3,636,688
|
30,704
|
|
U.S. Treasury Ultra Bond Future
|
15
|
12/19/2025
|
1,819,219
|
64,664
|
|
Total
|
|
|
|
$15,482
|
|
Short position contracts:
|
||||
|
Euro BUXL 30-Year Bond Future
|
(4)
|
12/08/2025
|
$(536,103
)
|
$(9,515
)
|
|
Euro-BOBL Future
|
(16)
|
12/08/2025
|
(2,183,931
)
|
(8,903
)
|
|
|
53
|
|
|
Futures Contracts Outstanding at October 31, 2025 – (continued)
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Short position contracts – (continued):
|
||||
|
Euro-BUND Future
|
(41)
|
12/08/2025
|
$(6,123,019
)
|
$(29,287
)
|
|
Total
|
|
|
|
$(47,705
)
|
|
Total futures contracts
|
$(32,223
)
|
|||
|
Centrally Cleared Credit Default Swap Contracts Outstanding at October 31, 2025
|
|||||||||
|
Reference Entity
|
Notional
Amount(1)
|
(Pay)/Receive
Fixed Rate
|
Expiration
Date
|
Periodic
Payment
Frequency
|
Upfront
Premiums
Paid
|
Upfront
Premiums
Received
|
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
Credit default swaps on indices:
|
|
||||||||
|
Buy protection:
|
|
||||||||
|
CDX.EM.S43.V1
|
USD
|
15,000
|
(1.00%)
|
06/20/2030
|
Quarterly
|
$281
|
$—
|
$132
|
$(149
)
|
|
ITRAXX-XOVER S43.V1
|
EUR
|
369,998
|
(5.00%)
|
06/20/2030
|
Quarterly
|
—
|
(37,447
)
|
(46,895
)
|
(9,448
)
|
|
Total
|
$281
|
$(37,447
)
|
$(46,763
)
|
$(9,597
)
|
|||||
|
Sell protection:
|
|
||||||||
|
CDX.NA.HY.S44.V1
|
USD
|
343,000
|
5.00%
|
06/20/2030
|
Quarterly
|
$24,202
|
$—
|
$27,683
|
$3,481
|
|
CDX.NA.HY.S45.V1
|
USD
|
475,000
|
5.00%
|
12/20/2030
|
Quarterly
|
35,083
|
—
|
37,013
|
1,930
|
|
ITRAXX-XOVER S44.V1
|
EUR
|
8,020,000
|
5.00%
|
12/20/2030
|
Quarterly
|
967,890
|
—
|
1,014,258
|
46,368
|
|
Total
|
$1,027,175
|
$—
|
$1,078,954
|
$51,779
|
|||||
|
Credit default swaps on single-name
issues:
|
|
|
|
|
|
|
|
|
|
|
Buy protection:
|
|
||||||||
|
Barclays PLC
|
EUR
|
150,000
|
(1.00%)
|
12/20/2029
|
Quarterly
|
$706
|
$—
|
$(727
)
|
$(1,433
)
|
|
Societe Generale SA
|
EUR
|
30,000
|
(1.00%)
|
06/20/2030
|
Quarterly
|
412
|
—
|
(366
)
|
(778
)
|
|
Total
|
|
|
|
|
|
$1,118
|
$—
|
$(1,093
)
|
$(2,211
)
|
|
Sell protection:
|
|
||||||||
|
Danske Bank AS (A-)
|
EUR
|
150,000
|
1.00%
|
12/20/2029
|
Quarterly
|
$—
|
$(295
)
|
$3,165
|
$3,460
|
|
Lloyds Banking Group PLC (BB-)
|
EUR
|
30,000
|
1.00%
|
06/20/2030
|
Quarterly
|
—
|
(337
)
|
99
|
436
|
|
Total
|
|
|
|
|
|
$—
|
$(632
)
|
$3,264
|
$3,896
|
|
Total
|
|
|
|
|
|
$1,118
|
$(632
)
|
$2,171
|
$1,685
|
|
Total centrally cleared credit default swap contracts
|
$1,028,574
|
$(38,079
)
|
$1,034,362
|
$43,867
|
|||||
|
(1)
|
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.
|
|
Centrally Cleared Interest Rate Swap Contracts Outstanding at October 31, 2025
|
|||||||||
|
Payments made
by Fund
|
Payments received
by Fund
|
Notional
Amount
|
Expiration
Date
|
Periodic
Payment
Frequency
|
Upfront
Premiums
Paid
|
Upfront
Premiums
Received
|
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
4.16% Fixed
|
12 Mo. USD SOFR
|
USD
|
2,275,000
|
03/19/2045
|
Annual
|
$—
|
$(38,711
)
|
$(53,776
)
|
$(15,065
)
|
|
2.97% Fixed
|
12 Mo. USD SOFR
|
USD
|
280,000
|
03/15/2053
|
Annual
|
824
|
—
|
49,617
|
48,793
|
|
2.88% Fixed
|
12 Mo. USD SOFR
|
USD
|
190,000
|
03/15/2053
|
Annual
|
2,016
|
—
|
36,805
|
34,789
|
|
3.25% Fixed
|
12 Mo. USD SOFR
|
USD
|
125,000
|
06/21/2053
|
Annual
|
—
|
(1,205
)
|
15,734
|
16,939
|
|
3.59% Fixed
|
12 Mo. USD SOFR
|
USD
|
695,000
|
09/20/2053
|
Annual
|
11,124
|
—
|
45,354
|
34,230
|
|
3.75% Fixed
|
12 Mo. USD SOFR
|
USD
|
215,000
|
12/18/2054
|
Annual
|
309
|
—
|
8,969
|
8,660
|
|
Total centrally cleared interest rate swaps contracts
|
$14,273
|
$(39,916
)
|
$102,703
|
$128,346
|
|||||
|
Foreign Currency Contracts Outstanding at October 31, 2025
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
912,000
|
BRL
|
163,656
|
USD
|
GSC
|
12/02/2025
|
$4,337
|
|
315,000
|
BRL
|
57,890
|
USD
|
SSG
|
12/02/2025
|
134
|
|
575,000
|
BRL
|
105,944
|
USD
|
BOA
|
12/02/2025
|
(27
)
|
|
426,605,000
|
COP
|
107,688
|
USD
|
CBK
|
12/17/2025
|
2,097
|
|
|
54
|
|
|
Foreign Currency Contracts Outstanding at October 31, 2025 – (continued)
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
8,664
|
EUR
|
10,000
|
USD
|
BCLY
|
11/28/2025
|
$16
|
|
8,662
|
EUR
|
10,000
|
USD
|
BOA
|
11/28/2025
|
14
|
|
543,000
|
EUR
|
627,827
|
USD
|
BMO
|
12/17/2025
|
618
|
|
14,000
|
EUR
|
16,310
|
USD
|
GSC
|
12/17/2025
|
(107
)
|
|
88,000
|
EUR
|
103,760
|
USD
|
CBK
|
12/17/2025
|
(1,913
)
|
|
107,000
|
EUR
|
127,426
|
USD
|
CIBC
|
12/17/2025
|
(3,589
)
|
|
1,000
|
GBP
|
1,331
|
USD
|
JPM
|
11/28/2025
|
(17
)
|
|
59,727,000
|
HUF
|
176,092
|
USD
|
BCLY
|
12/17/2025
|
1,120
|
|
19,800,000
|
HUF
|
58,822
|
USD
|
SSG
|
12/17/2025
|
(74
)
|
|
694,308,000
|
IDR
|
41,980
|
USD
|
CBK
|
12/17/2025
|
(250
)
|
|
4,050,000
|
INR
|
45,440
|
USD
|
SSG
|
12/17/2025
|
70
|
|
7,333,000
|
INR
|
82,799
|
USD
|
MSC
|
12/17/2025
|
(398
)
|
|
2,343,000
|
MXN
|
124,709
|
USD
|
WFB
|
12/17/2025
|
952
|
|
20,000
|
PHP
|
343
|
USD
|
GSC
|
12/17/2025
|
(3
)
|
|
15,000
|
PLN
|
4,101
|
USD
|
BOA
|
12/17/2025
|
(38
)
|
|
169,000
|
PLN
|
46,298
|
USD
|
MSC
|
12/17/2025
|
(519
)
|
|
120,000
|
RON
|
27,478
|
USD
|
BCLY
|
12/17/2025
|
(308
)
|
|
493,000
|
RON
|
112,988
|
USD
|
GSC
|
12/17/2025
|
(1,367
)
|
|
3,705,000
|
TRY
|
82,219
|
USD
|
GSC
|
12/17/2025
|
2,496
|
|
1,330,000
|
TRY
|
29,986
|
USD
|
BNP
|
12/17/2025
|
424
|
|
1,110,000
|
UYU
|
27,591
|
USD
|
CBK
|
12/17/2025
|
166
|
|
1,073,883
|
USD
|
1,625,000
|
AUD
|
BOA
|
11/06/2025
|
9,991
|
|
337,077
|
USD
|
470,000
|
CAD
|
BOA
|
11/06/2025
|
1,536
|
|
334,124
|
USD
|
265,000
|
CHF
|
BOA
|
11/06/2025
|
3,745
|
|
33,808
|
USD
|
32,400,000
|
CLP
|
GSC
|
12/17/2025
|
(586
)
|
|
65,519
|
USD
|
63,130,000
|
CLP
|
JPM
|
12/17/2025
|
(1,495
)
|
|
19,516
|
USD
|
138,000
|
CNH
|
WFB
|
12/17/2025
|
75
|
|
45,718
|
USD
|
324,000
|
CNH
|
HSBC
|
12/17/2025
|
74
|
|
9,758
|
USD
|
69,000
|
CNH
|
UBS
|
12/17/2025
|
37
|
|
16,615
|
USD
|
118,000
|
CNH
|
GSC
|
12/17/2025
|
(8
)
|
|
1,194
|
USD
|
4,700,000
|
COP
|
SSG
|
12/17/2025
|
(15
)
|
|
81,185
|
USD
|
1,686,000
|
CZK
|
GSC
|
12/17/2025
|
1,134
|
|
1,075,005
|
USD
|
914,000
|
EUR
|
BOA
|
11/06/2025
|
19,659
|
|
7,801,100
|
USD
|
6,709,651
|
EUR
|
JPM
|
11/28/2025
|
44,555
|
|
6,372,709
|
USD
|
5,478,600
|
EUR
|
DEUT
|
11/28/2025
|
39,292
|
|
2,398,592
|
USD
|
2,053,390
|
EUR
|
SSG
|
11/28/2025
|
24,814
|
|
6,482,114
|
USD
|
5,504,000
|
EUR
|
DEUT
|
12/17/2025
|
112,025
|
|
1,014,794
|
USD
|
856,000
|
EUR
|
UBS
|
12/17/2025
|
24,097
|
|
940,402
|
USD
|
802,000
|
EUR
|
SCB
|
12/17/2025
|
12,202
|
|
591,018
|
USD
|
506,000
|
EUR
|
JPM
|
12/17/2025
|
5,396
|
|
173,834
|
USD
|
148,000
|
EUR
|
MSC
|
12/17/2025
|
2,546
|
|
211,786
|
USD
|
181,000
|
EUR
|
SSG
|
12/17/2025
|
2,304
|
|
186,215
|
USD
|
159,000
|
EUR
|
CAG
|
12/17/2025
|
2,196
|
|
90,698
|
USD
|
77,000
|
EUR
|
ANZ
|
12/17/2025
|
1,581
|
|
1,073,589
|
USD
|
798,000
|
GBP
|
BOA
|
11/06/2025
|
25,121
|
|
438,647
|
USD
|
329,320
|
GBP
|
BCLY
|
11/28/2025
|
5,939
|
|
42,404
|
USD
|
14,300,000
|
HUF
|
BCLY
|
12/17/2025
|
(25
)
|
|
11,324
|
USD
|
191,000,000
|
IDR
|
BOA
|
12/17/2025
|
(155
)
|
|
47,576
|
USD
|
4,240,000
|
INR
|
MSC
|
12/17/2025
|
(68
)
|
|
34,756
|
USD
|
3,100,000
|
INR
|
BOA
|
12/17/2025
|
(78
)
|
|
705,801
|
USD
|
103,600,000
|
JPY
|
SCB
|
11/06/2025
|
32,905
|
|
38,781
|
USD
|
717,000
|
MXN
|
GSC
|
12/17/2025
|
327
|
|
9,516
|
USD
|
40,000
|
MYR
|
SCB
|
12/17/2025
|
(50
)
|
|
99,881
|
USD
|
420,000
|
MYR
|
HSBC
|
12/17/2025
|
(562
)
|
|
266,489
|
USD
|
1,120,000
|
MYR
|
BNP
|
12/17/2025
|
(1,359
)
|
|
1,076,584
|
USD
|
10,710,000
|
NOK
|
GSC
|
11/06/2025
|
17,966
|
|
21,194
|
USD
|
74,000
|
PEN
|
MSC
|
12/17/2025
|
(722
)
|
|
49,721
|
USD
|
173,000
|
PEN
|
BOA
|
12/17/2025
|
(1,516
)
|
|
66,918
|
USD
|
235,000
|
PEN
|
GSC
|
12/17/2025
|
(2,682
)
|
|
116,679
|
USD
|
6,680,000
|
PHP
|
BCLY
|
12/17/2025
|
3,293
|
|
12,293
|
USD
|
45,000
|
PLN
|
DEUT
|
12/17/2025
|
103
|
|
3,438
|
USD
|
15,000
|
RON
|
BCLY
|
12/17/2025
|
42
|
|
336,583
|
USD
|
3,150,000
|
SEK
|
BOA
|
11/06/2025
|
4,603
|
|
175,298
|
USD
|
5,549,000
|
THB
|
BCLY
|
12/17/2025
|
3,023
|
|
115,475
|
USD
|
3,674,000
|
THB
|
CBK
|
12/17/2025
|
1,411
|
|
|
55
|
|
|
Foreign Currency Contracts Outstanding at October 31, 2025 – (continued)
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
54,993
|
USD
|
2,225,000
|
UYU
|
CBK
|
12/17/2025
|
$(646
)
|
|
14,954
|
USD
|
260,000
|
ZAR
|
RBC
|
12/17/2025
|
2
|
|
25,463
|
USD
|
446,000
|
ZAR
|
BCLY
|
12/17/2025
|
(185
)
|
|
Total foreign currency contracts
|
$395,676
|
|||||
|
Foreign Cross Currency Contracts Outstanding at October 31, 2025
|
||||||
|
Contract
Amount
|
Counterparty
|
Delivery Date
|
Contract
Amount
|
Unrealized
Appreciation/
Depreciation
|
||
|
EUR
|
382,305
|
BNP
|
11/28/2025
|
GBP
|
379,782
|
$2,523
|
|
EUR
|
125,831
|
SSG
|
11/28/2025
|
GBP
|
126,139
|
(307
)
|
|
EUR
|
161,130
|
BCLY
|
11/28/2025
|
GBP
|
161,615
|
(485
)
|
|
Total foreign cross currency contracts
|
$1,731
|
|||||
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Asset-Backed & Commercial Mortgage-Backed Securities
|
$43,539,587
|
$—
|
$43,076,579
|
$463,008
|
|
Convertible Bonds
|
16,615,212
|
—
|
16,615,212
|
—
|
|
Corporate Bonds
|
71,947,686
|
—
|
71,947,686
|
—
|
|
Foreign Government Obligations
|
15,169,277
|
—
|
15,169,277
|
—
|
|
Municipal Bonds
|
383,046
|
—
|
383,046
|
—
|
|
Senior Floating Rate Interests
|
18,157,170
|
—
|
18,157,170
|
—
|
|
U.S. Government Agencies
|
22,783,439
|
36,902
|
22,746,537
|
—
|
|
U.S. Government Securities
|
81,277,648
|
—
|
81,277,648
|
—
|
|
Common Stocks
|
113,787
|
61,303
|
25,714
|
26,770
|
|
Preferred Stocks
|
2,226,551
|
2,005,947
|
220,604
|
—
|
|
Warrants
|
594
|
—
|
—
|
594
|
|
Short-Term Investments
|
637,691
|
—
|
637,691
|
—
|
|
Foreign Currency Contracts(2)
|
416,961
|
—
|
416,961
|
—
|
|
Futures Contracts(2)
|
198,932
|
198,932
|
—
|
—
|
|
Swaps - Credit Default(2)
|
55,675
|
—
|
55,675
|
—
|
|
Swaps - Interest Rate(2)
|
143,411
|
—
|
143,411
|
—
|
|
Total
|
$273,666,667
|
$2,303,084
|
$270,873,211
|
$490,372
|
|
Liabilities
|
|
|
|
|
|
Foreign Currency Contracts(2)
|
$(19,554
)
|
$—
|
$(19,554
)
|
$—
|
|
Futures Contracts(2)
|
(231,155
)
|
(231,155
)
|
—
|
—
|
|
Swaps - Interest Rate(2)
|
(15,065
)
|
—
|
(15,065
)
|
—
|
|
Swaps - Credit Default(2)
|
(11,808
)
|
—
|
(11,808
)
|
—
|
|
Total
|
$(277,582
)
|
$(231,155
)
|
$(46,427
)
|
$—
|
|
(1)
|
For the period ended October 31, 2025, there were no transfers in and out of Level
3.
|
|
(2)
|
Derivative instruments (excluding purchased and written options, if applicable) are
valued at the unrealized appreciation/(depreciation) on the investments.
|
|
|
56
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.8%
|
|||
|
|
Asset-Backed - Automobile - 0.7%
|
||
|
|
Avis Budget Rental Car Funding
AESOP LLC
|
|
|
|
$ 1,535,000
|
5.36%, 06/20/2030(1)
|
$1,582,388
|
|
|
540,000
|
5.58%, 12/20/2030(1)
|
555,909
|
|
|
1,565,000
|
Bridgecrest Lending Auto Securitization
Trust 5.43%, 08/15/2028
|
1,568,555
|
|
|
955,000
|
Citizens Auto Receivables Trust 5.03%,
10/15/2030(1)
|
964,274
|
|
|
1,060,000
|
Exeter Automobile Receivables Trust
4.40%, 05/15/2030
|
1,061,126
|
|
|
2,645,000
|
GLS Auto Receivables Issuer Trust 4.98%,
07/16/2029(1)
|
2,666,612
|
|
|
650,000
|
GLS Auto Select Receivables Trust 4.50%,
11/15/2030(1)
|
651,589
|
|
|
1,340,000
|
Hertz Vehicle Financing III LLC 5.13%,
09/25/2031(1)
|
1,349,432
|
|
|
1,650,000
|
Hyundai Auto Lease Securitization Trust
5.35%, 05/15/2028(1)
|
1,660,425
|
|
|
|
Santander Bank Auto Credit-Linked Notes
|
|
|
|
981,283
|
4.97%, 01/18/2033(1)
|
985,671
|
|
|
135,641
|
5.64%, 12/15/2033(1)
|
137,291
|
|
|
450,000
|
Santander Drive Auto Receivables Trust
5.98%, 04/16/2029
|
456,133
|
|
|
|
SFS Auto Receivables Securitization Trust
|
|
|
|
360,000
|
5.38%, 01/21/2031(1)
|
368,599
|
|
|
625,000
|
5.71%, 01/22/2030(1)
|
640,083
|
|
|
966,795
|
Wheels Fleet Lease Funding 1 LLC 6.46%,
08/18/2038(1)
|
979,002
|
|
|
|
|
|
15,627,089
|
|
|
Asset-Backed - Manufactured Housing - 0.0%
|
||
|
332,683
|
Cascade MH Asset Trust 1.75%,
02/25/2046(1)
|
299,240
|
|
|
|
Asset-Backed - Student Loan - 0.1%
|
||
|
|
Navient Private Education Refi Loan Trust
|
|
|
|
395,459
|
0.97%, 12/16/2069(1)
|
355,673
|
|
|
766,745
|
1.11%, 02/18/2070(1)
|
681,884
|
|
|
958,178
|
5.51%, 10/15/2071(1)
|
983,210
|
|
|
|
|
|
2,020,767
|
|
|
Commercial Mortgage-Backed Securities - 4.8%
|
||
|
1,549,000
|
280 Park Avenue Mortgage Trust 6.50%,
09/15/2034, 1 mo. USD Term SOFR +
2.42%(1)(2)
|
1,510,275
|
|
|
1,295,000
|
ALA Trust 5.78%, 06/15/2040, 1 mo. USD
Term SOFR + 1.74%(1)(2)
|
1,299,856
|
|
|
810,000
|
ARZ Trust 6.07%, 06/11/2039(1)
|
826,956
|
|
|
789,686
|
BAMLL Commercial Mortgage Securities
Trust 3.11%, 11/05/2032(1)
|
751,619
|
|
|
|
BBCMS Mortgage Trust
|
|
|
|
10,295,427
|
1.01%, 05/15/2057(2)(3)
|
731,508
|
|
|
7,327,403
|
1.11%, 09/15/2057(2)(3)
|
551,405
|
|
|
7,591,884
|
1.13%, 02/15/2062(2)(3)
|
633,389
|
|
|
6,313,702
|
1.62%, 02/15/2057(2)(3)
|
596,980
|
|
|
530,000
|
3.66%, 04/15/2055(2)
|
494,065
|
|
|
1,770,000
|
3.67%, 02/15/2050
|
1,745,962
|
|
|
|
Benchmark Mortgage Trust
|
|
|
|
17,567,327
|
0.46%, 07/15/2051(2)(3)
|
162,088
|
|
|
12,497,211
|
0.46%, 01/15/2055(1)(2)(3)
|
170,233
|
|
|
7,357,551
|
0.53%, 01/15/2051(2)(3)
|
65,743
|
|
|
12,418,514
|
0.57%, 07/15/2056(2)(3)
|
440,999
|
|
|
4,224,398
|
1.17%, 12/15/2056(2)(3)
|
232,042
|
|
|
7,306,345
|
1.22%, 03/15/2062(2)(3)
|
250,994
|
|
|
3,588,960
|
1.50%, 01/15/2054(2)(3)
|
221,833
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.8% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 4.8% - (continued)
|
||
|
$ 1,514,615
|
1.73%, 07/15/2053(2)(3)
|
$77,371
|
|
|
2,053,000
|
2.93%, 12/15/2072
|
1,916,822
|
|
|
2,200,000
|
3.88%, 02/15/2051(2)
|
2,172,802
|
|
|
9,748,350
|
BMO Mortgage Trust 0.86%,
07/15/2057(2)(3)
|
613,708
|
|
|
2,005,000
|
BOCA Commercial Mortgage Trust 6.37%,
08/15/2041, 1 mo. USD Term SOFR +
2.34%(1)(2)
|
2,012,519
|
|
|
|
BPR Trust
|
|
|
|
870,000
|
5.85%, 11/05/2041(1)(2)
|
889,856
|
|
|
3,055,000
|
7.62%, 10/05/2038(1)(2)
|
3,170,907
|
|
|
2,725,000
|
BWAY Trust 7.46%, 05/05/2042(1)(2)
|
2,852,052
|
|
|
|
BX Trust
|
|
|
|
1,670,000
|
5.88%, 07/15/2042, 1 mo. USD Term
SOFR + 1.85%(1)(2)
|
1,672,609
|
|
|
273,000
|
7.07%, 03/15/2041, 1 mo. USD Term
SOFR + 3.04%(1)(2)
|
272,915
|
|
|
5,032,000
|
CD Mortgage Trust 3.63%, 02/10/2050
|
4,887,141
|
|
|
766,000
|
Citigroup Commercial Mortgage Trust
4.01%, 11/15/2049(2)
|
684,868
|
|
|
|
Commercial Mortgage Trust
|
|
|
|
389,000
|
2.82%, 01/10/2039(1)
|
373,371
|
|
|
395,000
|
3.90%, 01/10/2039(1)(2)
|
370,293
|
|
|
1,206,000
|
6.51%, 12/10/2041(1)(2)
|
1,233,475
|
|
|
|
DBJPM Mortgage Trust
|
|
|
|
3,129,147
|
1.59%, 09/15/2053(2)(3)
|
138,634
|
|
|
2,660,000
|
2.89%, 08/10/2049
|
2,630,644
|
|
|
|
DC Trust
|
|
|
|
645,000
|
5.73%, 04/13/2040(1)(2)
|
652,837
|
|
|
320,000
|
7.04%, 04/13/2040(1)(2)
|
322,311
|
|
|
830,000
|
Durst Commercial Mortgage Trust 5.15%,
08/10/2042(1)(2)
|
845,808
|
|
|
465,000
|
Extended Stay America Trust 5.75%,
10/15/2042, 1 mo. USD Term SOFR +
1.60%(1)(2)
|
466,453
|
|
|
4,350,000
|
FS Commercial Mortgage Trust 7.54%,
11/10/2039(1)(2)
|
4,449,539
|
|
|
350,000
|
FS Trust 6.12%, 08/15/2039, 1 mo. USD
Term SOFR + 2.09%(1)(2)
|
350,328
|
|
|
3,290,000
|
GS Mortgage Securities Corp. II 5.70%,
03/10/2041(1)(2)
|
3,297,047
|
|
|
|
GS Mortgage Securities Trust
|
|
|
|
6,145,453
|
0.61%, 02/13/2053(2)(3)
|
128,205
|
|
|
2,000,000
|
3.05%, 05/10/2049
|
1,989,052
|
|
|
2,440,000
|
3.43%, 08/10/2050
|
2,389,175
|
|
|
738,940
|
HIH Trust 6.37%, 10/15/2041, 1 mo. USD
Term SOFR + 2.34%(1)(2)
|
741,480
|
|
|
|
HTL Commercial Mortgage Trust
|
|
|
|
910,000
|
6.56%, 05/10/2039(1)(2)
|
924,193
|
|
|
500,000
|
7.09%, 05/10/2039(1)(2)
|
508,848
|
|
|
|
INT Commercial Mortgage Trust
|
|
|
|
1,050,000
|
4.88%, 11/05/2037(1)(2)
|
1,051,134
|
|
|
200,000
|
5.17%, 11/05/2037(1)(2)
|
200,210
|
|
|
|
JP Morgan Chase Commercial Mortgage
Securities Trust
|
|
|
|
415,000
|
2.81%, 01/16/2037(1)
|
371,433
|
|
|
300,000
|
5.80%, 10/05/2039(1)(2)
|
302,647
|
|
|
2,050,000
|
JPMCC Commercial Mortgage Securities
Trust 3.72%, 03/15/2050
|
2,029,718
|
|
|
2,740,000
|
MAD Commercial Mortgage Trust 5.10%,
10/15/2042(1)(2)
|
2,742,166
|
|
|
1,300,000
|
MF1 Ltd. 5.75%, 02/19/2037, 1 mo. USD
Term SOFR + 1.75%(1)(2)
|
1,297,111
|
|
|
|
57
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.8% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 4.8% - (continued)
|
||
|
|
Morgan Stanley Capital I Trust
|
|
|
|
$ 3,517,449
|
1.29%, 06/15/2050(2)(3)
|
$48,967
|
|
|
2,460,000
|
3.91%, 09/09/2032(1)
|
2,214,279
|
|
|
1,350,000
|
5.60%, 12/15/2038, 1 mo. USD Term
SOFR + 1.56%(1)(2)
|
1,255,500
|
|
|
1,972,383
|
MSWF Commercial Mortgage Trust 0.91%,
12/15/2056(2)(3)
|
111,688
|
|
|
839,000
|
Natixis Commercial Mortgage Securities
Trust 4.77%, 06/17/2038(1)(2)
|
816,301
|
|
|
340,000
|
NRTH Commercial Mortgage Trust 5.79%,
10/15/2040, 1 mo. USD Term SOFR +
1.64%(1)(2)
|
340,213
|
|
|
|
NYC Commercial Mortgage Trust
|
|
|
|
3,230,000
|
4.88%, 07/13/2042(1)(2)
|
3,244,123
|
|
|
2,455,000
|
5.18%, 07/13/2042(1)(2)
|
2,465,680
|
|
|
3,560,000
|
5.72%, 02/15/2042, 1 mo. USD Term
SOFR + 1.69%(1)(2)
|
3,553,325
|
|
|
3,165,000
|
RFR Trust 5.67%, 03/11/2041(1)(2)
|
3,238,759
|
|
|
5,550,000
|
SHR Trust 6.48%, 10/15/2041, 1 mo. USD
Term SOFR + 2.45%(1)(2)
|
5,553,469
|
|
|
630,000
|
TEXAS Commercial Mortgage Trust 5.62%,
04/15/2042, 1 mo. USD Term SOFR +
1.59%(1)(2)
|
627,244
|
|
|
13,151,600
|
Wells Fargo Commercial Mortgage Trust
1.00%, 08/15/2057(2)(3)
|
934,365
|
|
|
|
Wells Fargo NA
|
|
|
|
11,222,276
|
0.41%, 02/15/2055(2)(3)
|
248,685
|
|
|
5,613,447
|
0.58%, 11/15/2062(2)(3)
|
115,159
|
|
|
13,807,212
|
0.63%, 11/15/2062(2)(3)
|
318,686
|
|
|
14,956,958
|
0.68%, 02/15/2061(2)(3)
|
191,116
|
|
|
5,646,711
|
0.70%, 11/15/2050(2)(3)
|
58,034
|
|
|
3,418,479
|
0.75%, 11/15/2054(2)(3)
|
44,123
|
|
|
9,823,486
|
0.82%, 06/15/2057(2)(3)
|
545,707
|
|
|
10,388,871
|
0.87%, 01/15/2063(2)(3)
|
297,648
|
|
|
3,384,376
|
0.88%, 05/15/2062(2)(3)
|
85,382
|
|
|
8,011,103
|
1.00%, 02/15/2056(2)(3)
|
462,285
|
|
|
2,540,548
|
1.00%, 12/15/2056(2)(3)
|
65,372
|
|
|
12,337,268
|
1.14%, 10/15/2057(2)(3)
|
995,742
|
|
|
7,048,959
|
1.76%, 03/15/2063(2)(3)
|
480,513
|
|
|
1,790,000
|
3.44%, 09/15/2060
|
1,761,204
|
|
|
1,440,000
|
3.58%, 05/15/2062
|
1,380,052
|
|
|
2,140,000
|
WHARF Commercial Mortgage Trust
5.35%, 07/15/2040(1)(2)
|
2,198,200
|
|
|
|
Willowbrook Mall
|
|
|
|
1,390,000
|
5.87%, 03/05/2035(1)(2)
|
1,445,874
|
|
|
2,685,000
|
6.08%, 03/05/2035(1)(2)
|
2,760,278
|
|
|
|
|
|
99,573,602
|
|
|
Other Asset-Backed Securities - 5.5%
|
||
|
55,601
|
AASET Trust 3.35%, 01/16/2040(1)
|
54,709
|
|
|
|
Affirm Asset Securitization Trust
|
|
|
|
1,095,000
|
5.33%, 12/17/2029(1)
|
1,096,878
|
|
|
1,035,000
|
5.61%, 02/15/2029(1)
|
1,038,391
|
|
|
|
Aligned Data Centers Issuer LLC
|
|
|
|
970,000
|
1.94%, 08/15/2046(1)
|
947,192
|
|
|
1,420,000
|
6.00%, 08/17/2048(1)
|
1,433,705
|
|
|
|
AMSR Trust
|
|
|
|
3,612,864
|
2.12%, 12/17/2038(1)
|
3,532,031
|
|
|
1,405,000
|
4.15%, 11/17/2041(1)
|
1,387,833
|
|
|
505,000
|
Amur Equipment Finance Receivables
XIII LLC 5.37%, 01/21/2031(1)
|
515,133
|
|
|
2,795,000
|
Ares XLIII CLO Ltd. 5.60%, 01/15/2038,
3 mo. USD Term SOFR + 1.70%(1)(2)
|
2,804,796
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.8% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 5.5% - (continued)
|
||
|
$ 1,260,000
|
Auxilior Term Funding LLC 5.49%,
07/15/2031(1)
|
$1,282,228
|
|
|
2,085,000
|
Barings CLO Ltd. 5.98%, 01/20/2037, 3 mo.
USD Term SOFR + 2.10%(1)(2)
|
2,089,714
|
|
|
1,300,000
|
Benefit Street Partners CLO XXXI Ltd.
5.61%, 04/25/2038, 3 mo. USD Term
SOFR + 1.75%(1)(2)
|
1,303,244
|
|
|
400,000
|
Blue Owl Asset Leasing Trust LLC 5.41%,
03/15/2030(1)
|
402,992
|
|
|
3,730,000
|
CBAM Ltd. 5.99%, 07/17/2034, 3 mo. USD
Term SOFR + 2.11%(1)(2)
|
3,734,618
|
|
|
|
CF Hippolyta Issuer LLC
|
|
|
|
252,681
|
1.53%, 03/15/2061(1)
|
210,756
|
|
|
593,453
|
1.69%, 07/15/2060(1)
|
507,614
|
|
|
193,202
|
1.98%, 03/15/2061(1)
|
127,206
|
|
|
822,695
|
1.99%, 07/15/2060(1)
|
688,478
|
|
|
381,327
|
5.97%, 08/15/2062(1)
|
373,044
|
|
|
|
Commercial Equipment Finance LLC
|
|
|
|
3,060,000
|
4.83%, 05/15/2031(1)
|
3,060,000
|
|
|
681,873
|
5.97%, 07/16/2029(1)
|
688,592
|
|
|
5,110,000
|
CTM CLO Ltd. 5.83%, 07/15/2038, 3 mo.
USD Term SOFR + 1.50%(1)(2)
|
5,125,596
|
|
|
|
Domino's Pizza Master Issuer LLC
|
|
|
|
4,554,217
|
2.66%, 04/25/2051(1)
|
4,324,326
|
|
|
3,628,398
|
3.15%, 04/25/2051(1)
|
3,335,467
|
|
|
667,200
|
3.67%, 10/25/2049(1)
|
643,144
|
|
|
1,215,000
|
Elmwood CLO 23 Ltd. 5.64%, 04/16/2036,
3 mo. USD Term SOFR + 1.75%(1)(2)
|
1,216,944
|
|
|
|
FirstKey Homes Trust
|
|
|
|
1,855,999
|
1.38%, 09/17/2038(1)
|
1,807,333
|
|
|
1,463,380
|
2.14%, 12/17/2038(1)
|
1,426,377
|
|
|
652,584
|
4.15%, 05/19/2039(1)
|
649,730
|
|
|
2,393,439
|
4.25%, 07/17/2039(1)
|
2,387,072
|
|
|
450,000
|
GreatAmerica Leasing Receivables
Funding LLC 5.18%, 12/16/2030(1)
|
458,469
|
|
|
|
GreenSky Home Improvement Issuer Trust
|
|
|
|
260,000
|
5.02%, 06/25/2060(1)
|
263,244
|
|
|
815,000
|
5.07%, 06/25/2060(1)
|
820,718
|
|
|
|
NMEF Funding LLC
|
|
|
|
438,000
|
4.64%, 01/18/2033(1)
|
438,950
|
|
|
1,595,000
|
4.73%, 01/18/2033(1)
|
1,601,226
|
|
|
66,106
|
NRZ Excess Spread-Collateralized Notes
3.84%, 12/25/2025(1)
|
65,951
|
|
|
|
Progress Residential Trust
|
|
|
|
1,678,569
|
1.51%, 10/17/2038(1)
|
1,644,715
|
|
|
609,992
|
3.20%, 04/17/2039(1)
|
599,017
|
|
|
2,702,591
|
3.40%, 02/17/2042(1)
|
2,589,245
|
|
|
1,720,744
|
4.44%, 05/17/2041(1)
|
1,719,136
|
|
|
429,089
|
4.45%, 06/17/2039(1)
|
428,224
|
|
|
739,969
|
4.75%, 10/27/2039(1)
|
742,331
|
|
|
3,875,000
|
Rad CLO 12 Ltd. 5.16%, 07/30/2040, 3 mo.
USD Term SOFR + 1.32%(1)(2)
|
3,882,750
|
|
|
|
Retained Vantage Data Centers Issuer LLC
|
|
|
|
2,350,000
|
4.99%, 09/15/2049(1)
|
2,349,912
|
|
|
2,610,000
|
5.00%, 09/15/2048(1)
|
2,611,015
|
|
|
2,950,000
|
RR 23 Ltd. 5.55%, 07/15/2037, 3 mo. USD
Term SOFR + 1.65%(1)(2)
|
2,958,230
|
|
|
1,185,000
|
RR 26 Ltd. 5.40%, 04/15/2038, 3 mo. USD
Term SOFR + 1.50%(1)(2)
|
1,184,975
|
|
|
121,654
|
Sapphire Aviation Finance II Ltd. 3.23%,
03/15/2040(1)
|
119,837
|
|
|
17,809
|
Sound Point CLO II Ltd. 5.19%, 01/26/2031,
3 mo. USD Term SOFR + 1.33%(1)(2)
|
17,810
|
|
|
|
58
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.8% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 5.5% - (continued)
|
||
|
$ 2,270,000
|
Sound Point CLO XXIX Ltd. 5.19%,
04/25/2034, 3 mo. USD Term SOFR +
1.33%(1)(2)
|
$2,271,357
|
|
|
|
Stack Infrastructure Issuer LLC
|
|
|
|
1,480,000
|
5.90%, 07/25/2048(1)
|
1,486,665
|
|
|
855,000
|
5.90%, 03/25/2049(1)
|
867,683
|
|
|
1,331,082
|
Stream Innovations Issuer Trust 5.05%,
09/15/2045(1)
|
1,341,237
|
|
|
490,000
|
Summit Issuer LLC 2.29%, 12/20/2050(1)
|
488,180
|
|
|
777,021
|
Sunnova Hestia II Issuer LLC 5.63%,
07/20/2051(1)
|
787,445
|
|
|
|
Taco Bell Funding LLC
|
|
|
|
1,675,163
|
2.54%, 08/25/2051(1)
|
1,472,384
|
|
|
1,733,550
|
4.94%, 11/25/2048(1)
|
1,730,043
|
|
|
1,445,000
|
Texas Debt Capital CLO Ltd. 5.53%,
07/20/2038, 3 mo. USD Term SOFR +
1.65%(1)(2)
|
1,451,598
|
|
|
|
Tricon Residential Trust
|
|
|
|
2,087,669
|
4.30%, 11/17/2041(1)
|
2,069,340
|
|
|
638,429
|
4.75%, 06/17/2040(1)
|
640,441
|
|
|
2,044,433
|
5.13%, 03/17/2042, 1 mo. USD Term
SOFR + 1.10%(1)(2)
|
2,046,337
|
|
|
2,020,000
|
Vantage Data Centers Issuer LLC 5.10%,
09/15/2054(1)
|
2,024,324
|
|
|
1,890,000
|
Vantage Data Centers LLC 1.99%,
09/15/2045(1)
|
1,796,753
|
|
|
1,865,000
|
VB-S1 Issuer LLC 5.59%, 05/15/2054(1)
|
1,878,782
|
|
|
2,270,000
|
Venture 42 CLO Ltd. 5.30%, 04/15/2034,
3 mo. USD Term SOFR + 1.39%(1)(2)
|
2,270,322
|
|
|
|
Wendy's Funding LLC
|
|
|
|
2,066,624
|
2.37%, 06/15/2051(1)
|
1,924,691
|
|
|
3,182,707
|
2.78%, 06/15/2051(1)
|
2,848,156
|
|
|
1,048,605
|
3.88%, 03/15/2048(1)
|
1,033,493
|
|
|
2,621,925
|
4.24%, 03/15/2052(1)
|
2,590,778
|
|
|
749,659
|
4.54%, 03/15/2052(1)
|
729,017
|
|
|
|
Wingstop Funding LLC
|
|
|
|
2,758,000
|
2.84%, 12/05/2050(1)
|
2,665,267
|
|
|
960,000
|
5.86%, 12/05/2054(1)
|
990,099
|
|
|
2,660,000
|
Zayo Issuer LLC 5.65%, 03/20/2055(1)
|
2,703,129
|
|
|
|
|
|
112,798,419
|
|
|
Whole Loan Collateral CMO - 6.7%
|
||
|
225,488
|
Ajax Mortgage Loan Trust 6.12%,
01/25/2061(1)(4)
|
225,426
|
|
|
|
Angel Oak Mortgage Trust
|
|
|
|
365,160
|
0.91%, 01/25/2066(1)(2)
|
325,844
|
|
|
895,313
|
0.95%, 07/25/2066(1)(2)
|
788,456
|
|
|
169,465
|
0.99%, 04/25/2053(1)(2)
|
161,118
|
|
|
343,206
|
0.99%, 04/25/2066(1)(2)
|
304,603
|
|
|
2,231,972
|
1.07%, 05/25/2066(1)(2)
|
1,947,207
|
|
|
388,703
|
1.24%, 01/20/2065(1)(2)
|
330,378
|
|
|
1,803,426
|
1.46%, 09/25/2066(1)(2)
|
1,536,928
|
|
|
674,244
|
1.82%, 11/25/2066(1)(2)
|
604,837
|
|
|
4,124,959
|
2.88%, 12/25/2066(1)(4)
|
3,883,347
|
|
|
3,719,341
|
4.30%, 07/25/2067(1)(4)
|
3,699,196
|
|
|
|
BINOM Securitization Trust
|
|
|
|
418,897
|
2.03%, 06/25/2056(1)(2)
|
385,531
|
|
|
2,263,663
|
4.44%, 08/25/2057(1)(2)
|
2,206,817
|
|
|
|
BRAVO Residential Funding Trust
|
|
|
|
190,175
|
0.94%, 02/25/2049(1)(2)
|
178,407
|
|
|
91,018
|
0.97%, 03/25/2060(1)(2)
|
88,512
|
|
|
1,070,041
|
5.11%, 07/25/2062(1)(2)
|
1,067,804
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.8% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 6.7% - (continued)
|
||
|
$ 1,832,307
|
CHNGE Mortgage Trust 3.76%,
03/25/2067(1)(2)
|
$1,801,127
|
|
|
29,278
|
Citigroup Mortgage Loan Trust, Inc. 3.25%,
03/25/2061(1)(2)
|
28,780
|
|
|
|
COLT Mortgage Loan Trust
|
|
|
|
159,231
|
0.80%, 07/27/2054(1)
|
143,969
|
|
|
562,437
|
0.91%, 06/25/2066(1)(2)
|
489,851
|
|
|
3,945,529
|
0.96%, 09/27/2066(1)(2)
|
3,339,073
|
|
|
732,594
|
1.34%, 08/25/2066(1)(2)
|
627,866
|
|
|
3,176,016
|
1.40%, 10/25/2066(1)(2)
|
2,739,676
|
|
|
1,850,222
|
2.28%, 12/27/2066(1)(2)
|
1,674,594
|
|
|
305,064
|
4.30%, 03/25/2067(1)(2)
|
306,443
|
|
|
|
CSMC Trust
|
|
|
|
134,599
|
0.81%, 05/25/2065(1)(2)
|
122,481
|
|
|
396,531
|
0.83%, 03/25/2056(1)(2)
|
333,384
|
|
|
587,060
|
0.94%, 05/25/2066(1)(2)
|
499,089
|
|
|
915,524
|
1.10%, 05/25/2066(1)(2)
|
799,572
|
|
|
718,285
|
1.18%, 02/25/2066(1)(2)
|
641,142
|
|
|
751,951
|
1.84%, 10/25/2066(1)(2)
|
677,938
|
|
|
2,246,885
|
2.27%, 11/25/2066(1)(2)
|
2,061,871
|
|
|
386,971
|
4.14%, 12/27/2060(1)(2)
|
387,824
|
|
|
239,605
|
Deephaven Residential Mortgage Trust
0.90%, 04/25/2066(1)(2)
|
213,201
|
|
|
|
Ellington Financial Mortgage Trust
|
|
|
|
88,676
|
0.80%, 02/25/2066(1)(2)
|
77,733
|
|
|
264,438
|
0.93%, 06/25/2066(1)(2)
|
222,847
|
|
|
2,034,963
|
2.21%, 01/25/2067(1)(2)
|
1,795,810
|
|
|
|
Federal Home Loan Mortgage Corp.
Seasoned Credit Risk Transfer Trust
|
|
|
|
543,072
|
2.50%, 08/25/2059
|
448,932
|
|
|
217,905
|
3.50%, 08/25/2057(2)
|
211,760
|
|
|
440,062
|
3.50%, 11/25/2057
|
422,118
|
|
|
1,180,202
|
3.50%, 07/25/2058
|
1,121,956
|
|
|
235,448
|
3.50%, 08/25/2058
|
222,923
|
|
|
193,382
|
3.50%, 08/26/2058
|
187,116
|
|
|
1,584,327
|
3.50%, 10/25/2058
|
1,469,240
|
|
|
|
Federal National Mortgage Association
Connecticut Avenue Securities Trust
|
|
|
|
430,000
|
5.98%, 01/25/2044, 30 day USD SOFR
Average + 1.80%(1)(2)
|
432,964
|
|
|
615,000
|
5.98%, 02/25/2044, 30 day USD SOFR
Average + 1.80%(1)(2)
|
619,238
|
|
|
52,245
|
6.50%, 08/25/2030, 30 day USD SOFR
Average + 2.31%(2)
|
53,008
|
|
|
555,800
|
7.28%, 10/25/2041, 30 day USD SOFR
Average + 3.10%(1)(2)
|
566,888
|
|
|
1,309,000
|
7.33%, 12/25/2041, 30 day USD SOFR
Average + 3.15%(1)(2)
|
1,338,429
|
|
|
3,885,000
|
8.68%, 01/25/2042, 30 day USD SOFR
Average + 4.50%(1)(2)
|
4,030,564
|
|
|
1,395,000
|
9.43%, 03/25/2042, 30 day USD SOFR
Average + 5.25%(1)(2)
|
1,471,025
|
|
|
1,545,000
|
10.43%, 03/25/2042, 30 day USD SOFR
Average + 6.25%(1)(2)
|
1,648,330
|
|
|
|
GCAT Trust
|
|
|
|
421,468
|
0.87%, 01/25/2066(1)(2)
|
361,074
|
|
|
512,060
|
1.04%, 05/25/2066(1)(2)
|
434,108
|
|
|
668,233
|
1.09%, 05/25/2066(1)(2)
|
581,562
|
|
|
1,043,571
|
1.09%, 08/25/2066(1)(2)
|
875,614
|
|
|
472,093
|
1.92%, 08/25/2066(1)(2)
|
440,132
|
|
|
|
Imperial Fund Mortgage Trust
|
|
|
|
548,442
|
1.07%, 09/25/2056(1)(2)
|
473,157
|
|
|
2,151,884
|
3.64%, 03/25/2067(1)(4)
|
2,057,318
|
|
|
|
59
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.8% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 6.7% - (continued)
|
||
|
|
Legacy Mortgage Asset Trust
|
|
|
|
$ 271,783
|
5.65%, 11/25/2060(1)(4)
|
$270,776
|
|
|
363,500
|
5.75%, 04/25/2061(1)(4)
|
362,493
|
|
|
524,661
|
5.75%, 07/25/2061(1)(4)
|
529,467
|
|
|
408,700
|
MetLife Securitization Trust 3.75%,
03/25/2057(1)(2)
|
399,222
|
|
|
|
MFA Trust
|
|
|
|
36,156
|
1.01%, 01/26/2065(1)(2)
|
34,378
|
|
|
381,130
|
1.03%, 11/25/2064(1)(2)
|
337,814
|
|
|
213,072
|
1.15%, 04/25/2065(1)(2)
|
201,893
|
|
|
4,146,306
|
Morgan Stanley Residential Mortgage Loan
Trust 4.25%, 02/25/2065(1)(2)
|
4,054,843
|
|
|
|
New Residential Mortgage Loan Trust
|
|
|
|
273,256
|
0.94%, 07/25/2055(1)(2)
|
248,916
|
|
|
151,193
|
0.94%, 10/25/2058(1)(2)
|
148,867
|
|
|
2,007,648
|
1.16%, 11/27/2056(1)(2)
|
1,810,754
|
|
|
1,852,336
|
2.28%, 04/25/2061(1)(2)
|
1,656,507
|
|
|
320,576
|
3.50%, 12/25/2057(1)(2)
|
311,549
|
|
|
262,377
|
3.76%, 09/25/2057(1)(2)
|
249,689
|
|
|
200,369
|
4.00%, 04/25/2057(1)(2)
|
194,261
|
|
|
218,649
|
4.00%, 08/27/2057(1)(2)
|
213,147
|
|
|
83,103
|
4.86%, 01/25/2048, 1 mo. USD Term
SOFR + 0.86%(1)(2)
|
81,643
|
|
|
1,046,713
|
NMLT Trust 1.19%, 05/25/2056(1)(2)
|
904,619
|
|
|
|
OBX Trust
|
|
|
|
4,498,496
|
1.05%, 07/25/2061(1)(2)
|
3,711,300
|
|
|
664,635
|
1.07%, 02/25/2066(1)(2)
|
583,248
|
|
|
909,421
|
1.96%, 10/25/2061(1)(2)
|
785,609
|
|
|
1,735,075
|
2.31%, 11/25/2061(1)(2)
|
1,571,095
|
|
|
|
PRET LLC
|
|
|
|
6,094,249
|
5.19%, 10/25/2055(1)(4)
|
6,092,179
|
|
|
3,180,003
|
5.66%, 07/25/2055(1)(4)
|
3,183,812
|
|
|
2,871,555
|
5.73%, 08/25/2055(1)(4)
|
2,876,533
|
|
|
4,768,917
|
5.74%, 06/25/2055(1)(4)
|
4,787,957
|
|
|
2,108,940
|
5.93%, 10/25/2054(1)(4)
|
2,106,759
|
|
|
587,802
|
5.93%, 10/25/2054(1)(4)
|
586,254
|
|
|
|
PRET Trust
|
|
|
|
3,999,374
|
4.00%, 07/25/2069(1)(4)
|
3,912,020
|
|
|
2,826,603
|
4.15%, 04/25/2065(1)(4)
|
2,751,860
|
|
|
|
PRPM LLC
|
|
|
|
3,957,558
|
3.75%, 04/25/2055(1)(4)
|
3,855,173
|
|
|
1,846,910
|
5.50%, 08/25/2030(1)(4)
|
1,847,769
|
|
|
536,965
|
5.70%, 11/25/2029(1)(4)
|
536,801
|
|
|
1,071,025
|
5.73%, 07/25/2030(1)(4)
|
1,070,541
|
|
|
2,626,480
|
5.77%, 08/25/2028(1)(4)
|
2,625,718
|
|
|
1,728,533
|
5.87%, 11/25/2029(1)(4)
|
1,724,835
|
|
|
536,159
|
6.26%, 05/25/2030(1)(4)
|
549,002
|
|
|
4,745,628
|
6.47%, 05/25/2030(1)(4)
|
4,743,849
|
|
|
261,461
|
RCO VIII Mortgage LLC 6.43%,
05/25/2030(1)(4)
|
261,347
|
|
|
106,139
|
Residential Mortgage Loan Trust 0.86%,
01/25/2065(1)(2)
|
102,539
|
|
|
1,072,553
|
SG Residential Mortgage Trust 1.16%,
07/25/2061(1)(2)
|
906,729
|
|
|
1,036,200
|
STAR Trust 1.22%, 05/25/2065(1)(2)
|
974,405
|
|
|
|
Starwood Mortgage Residential Trust
|
|
|
|
124,084
|
0.94%, 05/25/2065(1)(2)
|
117,870
|
|
|
743,388
|
1.13%, 06/25/2056(1)(2)
|
659,032
|
|
|
1,130,189
|
1.92%, 11/25/2066(1)(2)
|
999,262
|
|
|
|
Towd Point Mortgage Trust
|
|
|
|
543,634
|
1.75%, 10/25/2060(1)
|
496,637
|
|
|
544,155
|
2.90%, 10/25/2059(1)(2)
|
523,284
|
|
|
1,883,921
|
2.92%, 11/30/2060(1)(2)
|
1,680,122
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 17.8% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 6.7% - (continued)
|
||
|
$ 192,851
|
3.25%, 03/25/2058(1)(2)
|
$190,823
|
|
|
25,178
|
3.25%, 07/25/2058(1)(2)
|
24,925
|
|
|
25,892
|
3.75%, 05/25/2058(1)(2)
|
25,457
|
|
|
353,985
|
TRK Trust 1.15%, 07/25/2056(1)(2)
|
321,843
|
|
|
|
Verus Securitization Trust
|
|
|
|
55,708
|
0.82%, 10/25/2063(1)(2)
|
53,663
|
|
|
249,249
|
0.92%, 02/25/2064(1)(2)
|
233,026
|
|
|
1,630,976
|
0.94%, 07/25/2066(1)(2)
|
1,359,911
|
|
|
3,590,382
|
1.01%, 09/25/2066(1)(2)
|
3,109,964
|
|
|
255,058
|
1.03%, 02/25/2066(1)(2)
|
232,692
|
|
|
740,073
|
1.82%, 11/25/2066(1)(2)
|
686,576
|
|
|
1,574,845
|
1.83%, 10/25/2066(1)(4)
|
1,442,460
|
|
|
1,311,699
|
2.72%, 01/25/2067(1)(4)
|
1,234,003
|
|
|
2,294,964
|
3.80%, 04/25/2067(1)(4)
|
2,237,159
|
|
|
1,142,436
|
4.13%, 02/25/2067(1)(4)
|
1,102,897
|
|
|
192,921
|
VOLT C LLC 5.99%, 05/25/2051(1)(4)
|
192,519
|
|
|
350,486
|
VOLT CII LLC 5.87%, 08/25/2051(1)(4)
|
349,960
|
|
|
103,014
|
VOLT XCV LLC 6.24%, 03/27/2051(1)(4)
|
102,875
|
|
|
5,829
|
VOLT XCVII LLC 6.24%, 04/25/2051(1)(4)
|
5,817
|
|
|
|
|
|
137,727,087
|
|
|
Total Asset-Backed & Commercial
Mortgage-Backed Securities
(cost $371,363,121)
|
$368,046,204
|
|
|
CONVERTIBLE BONDS - 0.0%
|
|||
|
|
Commercial Banks - 0.0%
|
||
|
EUR
800,000
|
Mitsubishi UFJ Investor Services & Banking
Luxembourg SA 6.52%, 12/15/2050, 3
mo. EURIBOR + 4.50%(2)
|
$595,995
|
|
|
|
Total Convertible Bonds
(cost $599,093)
|
$595,995
|
|
|
CORPORATE BONDS - 25.7%
|
|||
|
|
Advertising - 0.0%
|
||
|
$ 1,000,000
|
Outfront Media Capital LLC/Outfront Media
Capital Corp. 7.38%, 02/15/2031(1)
|
$1,056,365
|
|
|
|
Aerospace & Defense - 0.4%
|
||
|
1,025,000
|
BAE Systems PLC 5.13%, 03/26/2029(1)
|
1,055,645
|
|
|
|
Boeing Co.
|
|
|
|
427,000
|
2.95%, 02/01/2030
|
403,191
|
|
|
325,000
|
3.20%, 03/01/2029
|
313,823
|
|
|
20,000
|
3.50%, 03/01/2039
|
16,278
|
|
|
50,000
|
3.63%, 02/01/2031
|
47,938
|
|
|
10,000
|
3.65%, 03/01/2047
|
7,303
|
|
|
178,000
|
3.75%, 02/01/2050
|
131,907
|
|
|
25,000
|
3.85%, 11/01/2048
|
18,616
|
|
|
10,000
|
3.90%, 05/01/2049
|
7,539
|
|
|
2,280,000
|
5.15%, 05/01/2030
|
2,345,293
|
|
|
2,790,000
|
5.71%, 05/01/2040
|
2,844,891
|
|
|
10,000
|
5.88%, 02/15/2040
|
10,343
|
|
|
365,000
|
6.39%, 05/01/2031
|
396,971
|
|
|
785,000
|
6.53%, 05/01/2034
|
868,579
|
|
|
190,000
|
7.01%, 05/01/2064
|
217,457
|
|
|
26,000
|
L3Harris Technologies, Inc. 5.40%,
07/31/2033
|
27,112
|
|
|
|
|
|
8,712,886
|
|
|
Agriculture - 0.5%
|
||
|
|
BAT Capital Corp.
|
|
|
|
231,000
|
2.26%, 03/25/2028
|
220,959
|
|
|
26,700
|
3.56%, 08/15/2027
|
26,439
|
|
|
|
60
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Agriculture - 0.5% - (continued)
|
||
|
$ 1,455,000
|
5.63%, 08/15/2035
|
$1,511,472
|
|
|
325,000
|
5.83%, 02/20/2031
|
343,788
|
|
|
25,000
|
7.08%, 08/02/2043
|
28,183
|
|
|
525,000
|
JBS USA LUX SARL/JBS USA Food
Co./JBS USA Foods Group 5.95%,
04/20/2035(1)
|
549,449
|
|
|
|
Philip Morris International, Inc.
|
|
|
|
25,000
|
1.75%, 11/01/2030
|
22,145
|
|
|
50,000
|
3.38%, 08/15/2029
|
48,635
|
|
|
25,000
|
4.13%, 03/04/2043
|
21,351
|
|
|
1,460,000
|
4.38%, 11/01/2027
|
1,470,096
|
|
|
220,000
|
4.38%, 04/30/2030
|
220,840
|
|
|
20,000
|
4.38%, 11/15/2041
|
17,864
|
|
|
1,040,000
|
4.75%, 11/01/2031
|
1,058,151
|
|
|
197,000
|
4.88%, 11/15/2043
|
183,639
|
|
|
305,000
|
5.13%, 11/17/2027
|
311,154
|
|
|
1,250,000
|
5.13%, 02/15/2030
|
1,290,367
|
|
|
1,400,000
|
5.13%, 02/13/2031
|
1,446,986
|
|
|
85,000
|
5.25%, 02/13/2034
|
87,611
|
|
|
85,000
|
5.38%, 02/15/2033
|
88,522
|
|
|
548,000
|
5.63%, 09/07/2033
|
579,716
|
|
|
3,000
|
6.38%, 05/16/2038
|
3,353
|
|
|
|
|
|
9,530,720
|
|
|
Airlines - 0.0%
|
||
|
500,000
|
JetBlue Airways Corp./JetBlue Loyalty LP
9.88%, 09/20/2031(1)(5)
|
491,447
|
|
|
|
Apparel - 0.2%
|
||
|
2,470,000
|
Gildan Activewear, Inc. 5.40%,
10/07/2035(1)
|
2,460,028
|
|
|
|
Tapestry, Inc.
|
|
|
|
290,000
|
5.10%, 03/11/2030
|
297,051
|
|
|
748,000
|
5.50%, 03/11/2035
|
761,720
|
|
|
|
|
|
3,518,799
|
|
|
Auto Manufacturers - 0.1%
|
||
|
|
Ford Motor Co.
|
|
|
|
2,835,000
|
3.25%, 02/12/2032
|
2,472,290
|
|
|
10,000
|
4.75%, 01/15/2043
|
8,048
|
|
|
|
|
|
2,480,338
|
|
|
Auto Parts & Equipment - 0.1%
|
||
|
EUR
1,000,000
|
Clarios Global LP/Clarios U.S. Finance Co.
4.75%, 06/15/2031(6)
|
1,177,281
|
|
|
$ 590,000
|
Forvia SE 6.75%, 09/15/2033(1)
|
598,480
|
|
|
|
|
|
1,775,761
|
|
|
Beverages - 0.3%
|
||
|
|
Bacardi Ltd./Bacardi-Martini BV
|
|
|
|
100,000
|
5.25%, 01/15/2029(1)
|
102,183
|
|
|
501,000
|
5.40%, 06/15/2033(1)
|
505,379
|
|
|
860,000
|
Bacardi-Martini BV 6.00%, 02/01/2035(1)
|
894,862
|
|
|
|
Keurig Dr. Pepper, Inc.
|
|
|
|
1,142,000
|
2.25%, 03/15/2031
|
1,013,265
|
|
|
75,000
|
3.80%, 05/01/2050
|
55,479
|
|
|
700,000
|
3.95%, 04/15/2029
|
689,993
|
|
|
945,000
|
4.05%, 04/15/2032
|
907,121
|
|
|
1,535,000
|
4.50%, 04/15/2052
|
1,253,822
|
|
|
550,000
|
5.20%, 03/15/2031
|
563,730
|
|
|
570,000
|
5.30%, 03/15/2034
|
579,547
|
|
|
|
|
|
6,565,381
|
|
|
Biotechnology - 0.2%
|
||
|
4,035,000
|
Royalty Pharma PLC 5.20%, 09/25/2035
|
4,042,400
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Chemicals - 0.3%
|
||
|
$ 500,000
|
Celanese U.S. Holdings LLC 6.50%,
04/15/2030(5)
|
$495,825
|
|
|
EUR
1,000,000
|
Itelyum Regeneration SpA 5.75%,
04/15/2030(6)
|
1,170,467
|
|
|
$ 1,110,000
|
Olympus Water U.S. Holding Corp. 6.25%,
10/01/2029(1)
|
1,081,965
|
|
|
|
Sherwin-Williams Co.
|
|
|
|
42,000
|
4.80%, 09/01/2031
|
42,856
|
|
|
2,795,000
|
5.15%, 08/15/2035
|
2,852,410
|
|
|
600,000
|
Tronox, Inc. 4.63%, 03/15/2029(1)
|
368,867
|
|
|
|
|
|
6,012,390
|
|
|
Commercial Banks - 3.9%
|
||
|
EUR
1,085,000
|
Banca Transilvania SA 8.88%, 04/27/2027,
(8.88% fixed rate until 04/27/2026; 1 yr.
EURIBOR ICE Swap + 5.58%
thereafter)(2)(6)
|
1,283,098
|
|
|
|
Bank of America Corp.
|
|
|
|
$ 830,000
|
1.90%, 07/23/2031, (1.90% fixed rate
until 07/23/2030; 6 mo. USD SOFR +
1.53% thereafter)(2)
|
743,663
|
|
|
1,001,000
|
1.92%, 10/24/2031, (1.92% fixed rate
until 10/24/2030; 6 mo. USD SOFR +
1.37% thereafter)(2)
|
890,700
|
|
|
100,000
|
2.30%, 07/21/2032, (2.30% fixed rate
until 07/21/2031; 6 mo. USD SOFR +
1.22% thereafter)(2)
|
88,969
|
|
|
1,130,000
|
2.48%, 09/21/2036, (2.48% fixed rate
until 09/21/2031; 5 yr. USD CMT +
1.20% thereafter)(2)
|
984,649
|
|
|
2,107,000
|
2.50%, 02/13/2031, (2.50% fixed rate
until 02/13/2030; 3 mo. USD Term
SOFR + 1.25% thereafter)(2)
|
1,956,404
|
|
|
785,000
|
2.59%, 04/29/2031, (2.59% fixed rate
until 04/29/2030; 6 mo. USD SOFR +
2.15% thereafter)(2)
|
730,104
|
|
|
1,127,000
|
2.69%, 04/22/2032, (2.69% fixed rate
until 04/22/2031; 6 mo. USD SOFR +
1.32% thereafter)(2)
|
1,029,910
|
|
|
309,000
|
2.97%, 02/04/2033, (2.97% fixed rate
until 02/04/2032; 6 mo. USD SOFR +
1.33% thereafter)(2)
|
281,777
|
|
|
40,000
|
4.08%, 04/23/2040, (4.08% fixed rate
until 04/23/2039; 3 mo. USD Term
SOFR + 1.58% thereafter)(2)
|
35,871
|
|
|
15,000
|
4.24%, 04/24/2038, (4.24% fixed rate
until 04/24/2037; 3 mo. USD Term
SOFR + 2.08% thereafter)(2)
|
14,058
|
|
|
25,000
|
4.44%, 01/20/2048, (4.44% fixed rate
until 01/20/2047; 3 mo. USD Term
SOFR + 2.25% thereafter)(2)
|
22,052
|
|
|
130,000
|
4.57%, 04/27/2033, (4.57% fixed rate
until 04/27/2032; 6 mo. USD SOFR +
1.83% thereafter)(2)
|
129,786
|
|
|
100,000
|
4.95%, 07/22/2028, (4.95% fixed rate
until 07/22/2027; 6 mo. USD SOFR +
2.04% thereafter)(2)
|
101,342
|
|
|
100,000
|
4.98%, 01/24/2029, (4.98% fixed rate
until 01/24/2028; 6 mo. USD SOFR +
0.83% thereafter)(2)
|
101,782
|
|
|
25,000
|
5.46%, 05/09/2036, (5.46% fixed rate
until 05/09/2035; 6 mo. USD SOFR +
1.64% thereafter)(2)
|
26,155
|
|
|
|
61
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Commercial Banks - 3.9% - (continued)
|
||
|
$ 150,000
|
5.47%, 01/23/2035, (5.47% fixed rate
until 01/23/2034; 6 mo. USD SOFR +
1.65% thereafter)(2)
|
$156,695
|
|
|
1,590,000
|
5.52%, 10/25/2035, (5.52% fixed rate
until 10/25/2034; 6 mo. USD SOFR +
1.74% thereafter)(2)
|
1,630,099
|
|
|
|
Bank of New York Mellon Corp.
|
|
|
|
50,000
|
2.50%, 01/26/2032
|
45,211
|
|
|
3,000
|
3.85%, 04/26/2029
|
2,995
|
|
|
230,000
|
4.60%, 07/26/2030, (4.60% fixed rate
until 07/26/2029; 6 mo. USD SOFR +
1.76% thereafter)(2)
|
233,571
|
|
|
52,000
|
4.97%, 04/26/2034, (4.97% fixed rate
until 04/26/2033; 6 mo. USD SOFR +
1.61% thereafter)(2)
|
53,069
|
|
|
689,000
|
5.06%, 07/22/2032, (5.06% fixed rate
until 07/22/2031; 6 mo. USD SOFR +
1.23% thereafter)(2)
|
711,928
|
|
|
514,000
|
5.19%, 03/14/2035, (5.19% fixed rate
until 03/14/2034; 6 mo. USD SOFR +
1.42% thereafter)(2)
|
529,480
|
|
|
50,000
|
5.61%, 07/21/2039, (5.61% fixed rate
until 07/21/2034; 6 mo. USD SOFR +
1.77% thereafter)(2)
|
52,248
|
|
|
15,000
|
5.83%, 10/25/2033, (5.83% fixed rate
until 10/25/2032; 6 mo. USD SOFR +
2.07% thereafter)(2)
|
16,158
|
|
|
2,000,000
|
BNP Paribas SA 5.91%, 11/19/2035,
(5.91% fixed rate until 11/19/2034; 6 mo.
USD SOFR + 1.92% thereafter)(1)(2)
|
2,076,120
|
|
|
|
BPCE SA
|
|
|
|
1,575,000
|
5.39%, 05/28/2031, (5.39% fixed rate
until 05/28/2030; 6 mo. USD SOFR +
1.58% thereafter)(1)(2)
|
1,614,263
|
|
|
500,000
|
5.75%, 07/19/2033, (5.75% fixed rate
until 07/19/2032; 6 mo. USD SOFR +
2.87% thereafter)(1)(2)
|
521,012
|
|
|
1,380,000
|
5.88%, 01/14/2031, (5.88% fixed rate
until 01/14/2030; 6 mo. USD SOFR +
1.68% thereafter)(1)(2)
|
1,440,235
|
|
|
500,000
|
5.94%, 05/30/2035, (5.94% fixed rate
until 05/30/2034; 6 mo. USD SOFR +
1.85% thereafter)(1)(2)
|
524,402
|
|
|
1,400,000
|
6.51%, 01/18/2035, (6.51% fixed rate
until 01/18/2034; 6 mo. USD SOFR +
2.79% thereafter)(1)(2)
|
1,492,835
|
|
|
1,175,000
|
Citibank NA 4.91%, 05/29/2030
|
1,208,924
|
|
|
|
Citigroup, Inc.
|
|
|
|
40,000
|
2.67%, 01/29/2031, (2.67% fixed rate
until 01/29/2030; 6 mo. USD SOFR +
1.15% thereafter)(2)
|
37,279
|
|
|
25,000
|
3.88%, 01/24/2039, (3.88% fixed rate
until 01/24/2038; 3 mo. USD Term
SOFR + 1.43% thereafter)(2)
|
22,096
|
|
|
2,675,000
|
4.50%, 09/11/2031, (4.50% fixed rate
until 09/11/2030; 6 mo. USD SOFR +
1.17% thereafter)(2)
|
2,678,249
|
|
|
1,885,000
|
4.95%, 05/07/2031, (4.95% fixed rate
until 05/07/2030; 6 mo. USD SOFR +
1.46% thereafter)(2)
|
1,922,875
|
|
|
15,000
|
5.61%, 03/04/2056, (5.61% fixed rate
until 03/04/2055; 6 mo. USD SOFR +
1.75% thereafter)(2)
|
15,224
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Commercial Banks - 3.9% - (continued)
|
||
|
$ 25,000
|
6.27%, 11/17/2033, (6.27% fixed rate
until 11/17/2032; 6 mo. USD SOFR +
2.34% thereafter)(2)
|
$27,278
|
|
|
|
Citizens Financial Group, Inc.
|
|
|
|
25,000
|
2.50%, 02/06/2030
|
23,006
|
|
|
50,000
|
2.64%, 09/30/2032
|
42,780
|
|
|
1,165,000
|
5.25%, 03/05/2031, (5.25% fixed rate
until 03/05/2030; 6 mo. USD SOFR +
1.26% thereafter)(2)
|
1,191,922
|
|
|
100,000
|
5.64%, 05/21/2037, (5.64% fixed rate
until 05/21/2032; 5 yr. USD CMT +
2.75% thereafter)(2)
|
101,031
|
|
|
60,000
|
5.72%, 07/23/2032, (5.72% fixed rate
until 07/23/2031; 6 mo. USD SOFR +
1.91% thereafter)(2)
|
62,607
|
|
|
160,000
|
6.65%, 04/25/2035, (6.65% fixed rate
until 04/25/2034; 6 mo. USD SOFR +
2.33% thereafter)(2)
|
175,301
|
|
|
EUR
500,000
|
CrediaBank SA 9.38%, 01/31/2031, (9.38%
fixed rate until 01/31/2031; 5 yr.
EURIBOR ICE Swap + 7.28%
thereafter)(2)(6)(7)
|
614,928
|
|
|
|
Credit Agricole SA
|
|
|
|
$ 2,585,000
|
4.82%, 09/25/2033, (4.82% fixed rate
until 09/25/2032; 6 mo. USD SOFR +
1.36% thereafter)(1)(2)
|
2,569,789
|
|
|
2,280,000
|
5.22%, 05/27/2031, (5.22% fixed rate
until 05/27/2030; 6 mo. USD SOFR +
1.46% thereafter)(1)(2)
|
2,337,946
|
|
|
250,000
|
5.86%, 01/09/2036, (5.86% fixed rate
until 01/09/2035; 6 mo. USD SOFR +
1.74% thereafter)(1)(2)
|
262,939
|
|
|
1,955,000
|
6.25%, 01/10/2035, (6.25% fixed rate
until 01/10/2034; 6 mo. USD SOFR +
2.67% thereafter)(1)(2)
|
2,062,237
|
|
|
|
Goldman Sachs Group, Inc.
|
|
|
|
416,000
|
1.99%, 01/27/2032, (1.99% fixed rate
until 01/27/2031; 6 mo. USD SOFR +
1.09% thereafter)(2)
|
367,858
|
|
|
260,000
|
2.38%, 07/21/2032, (2.38% fixed rate
until 07/21/2031; 6 mo. USD SOFR +
1.25% thereafter)(2)
|
231,693
|
|
|
20,000
|
2.91%, 07/21/2042, (2.91% fixed rate
until 07/21/2041; 6 mo. USD SOFR +
1.47% thereafter)(2)
|
14,859
|
|
|
96,000
|
3.80%, 03/15/2030
|
94,403
|
|
|
15,000
|
4.41%, 04/23/2039, (4.41% fixed rate
until 04/23/2038; 3 mo. USD Term
SOFR + 1.69% thereafter)(2)
|
13,931
|
|
|
1,380,000
|
4.69%, 10/23/2030, (4.69% fixed rate
until 10/23/2029; 6 mo. USD SOFR +
1.14% thereafter)(2)
|
1,397,425
|
|
|
228,000
|
5.02%, 10/23/2035, (5.02% fixed rate
until 10/23/2034; 6 mo. USD SOFR +
1.42% thereafter)(2)
|
229,546
|
|
|
1,655,000
|
5.05%, 07/23/2030, (5.05% fixed rate
until 07/23/2029; 6 mo. USD SOFR +
1.21% thereafter)(2)
|
1,693,505
|
|
|
610,000
|
5.22%, 04/23/2031, (5.22% fixed rate
until 04/23/2030; 6 mo. USD SOFR +
1.58% thereafter)(2)
|
629,518
|
|
|
200,000
|
5.33%, 07/23/2035, (5.33% fixed rate
until 07/23/2034; 6 mo. USD SOFR +
1.55% thereafter)(2)
|
205,968
|
|
|
|
62
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Commercial Banks - 3.9% - (continued)
|
||
|
$ 15,000
|
5.73%, 01/28/2056, (5.73% fixed rate
until 01/28/2055; 6 mo. USD SOFR +
1.70% thereafter)(2)
|
$15,529
|
|
|
165,000
|
5.85%, 04/25/2035, (5.85% fixed rate
until 04/25/2034; 6 mo. USD SOFR +
1.55% thereafter)(2)
|
175,890
|
|
|
25,000
|
6.13%, 02/15/2033
|
27,423
|
|
|
123,000
|
6.56%, 10/24/2034, (6.56% fixed rate
until 10/24/2033; 6 mo. USD SOFR +
1.95% thereafter)(2)
|
137,417
|
|
|
|
HSBC Holdings PLC
|
|
|
|
360,000
|
2.21%, 08/17/2029, (2.21% fixed rate
until 08/17/2028; 6 mo. USD SOFR +
1.29% thereafter)(2)
|
340,161
|
|
|
440,000
|
2.85%, 06/04/2031, (2.85% fixed rate
until 06/04/2030; 6 mo. USD SOFR +
2.39% thereafter)(2)
|
410,108
|
|
|
910,000
|
4.62%, 11/06/2031, 6 mo. USD SOFR +
1.19%(2)
|
911,006
|
|
|
970,000
|
5.13%, 03/03/2031, (5.13% fixed rate
until 03/03/2030; 6 mo. USD SOFR +
1.29% thereafter)(2)
|
992,540
|
|
|
2,535,000
|
5.24%, 05/13/2031, (5.24% fixed rate
until 05/13/2030; 6 mo. USD SOFR +
1.57% thereafter)(2)
|
2,608,395
|
|
|
200,000
|
5.79%, 05/13/2036, (5.79% fixed rate
until 05/13/2035; 6 mo. USD SOFR +
1.88% thereafter)(2)(5)
|
211,068
|
|
|
|
JP Morgan Chase & Co.
|
|
|
|
15,000
|
2.53%, 11/19/2041, (2.53% fixed rate
until 11/19/2040; 3 mo. USD Term
SOFR + 1.51% thereafter)(2)
|
10,852
|
|
|
913,000
|
2.55%, 11/08/2032, (2.55% fixed rate
until 11/08/2031; 6 mo. USD SOFR +
1.18% thereafter)(2)
|
820,689
|
|
|
1,419,000
|
3.70%, 05/06/2030, (3.70% fixed rate
until 05/06/2029; 3 mo. USD Term
SOFR + 1.42% thereafter)(2)
|
1,395,304
|
|
|
50,000
|
3.90%, 01/23/2049, (3.90% fixed rate
until 01/23/2048; 3 mo. USD Term
SOFR + 1.48% thereafter)(2)
|
40,575
|
|
|
978,000
|
4.01%, 04/23/2029, (4.01% fixed rate
until 04/23/2028; 3 mo. USD Term
SOFR + 1.38% thereafter)(2)
|
975,094
|
|
|
25,000
|
4.03%, 07/24/2048, (4.03% fixed rate
until 07/24/2047; 3 mo. USD Term
SOFR + 1.72% thereafter)(2)
|
20,825
|
|
|
2,045,000
|
4.26%, 10/22/2031, (4.26% fixed rate
until 10/22/2030; 6 mo. USD SOFR +
0.93% thereafter)(2)
|
2,037,864
|
|
|
35,000
|
4.26%, 02/22/2048, (4.26% fixed rate
until 02/22/2047; 3 mo. USD Term
SOFR + 1.84% thereafter)(2)
|
30,255
|
|
|
100,000
|
4.49%, 03/24/2031, (4.49% fixed rate
until 03/24/2030; 3 mo. USD Term
SOFR + 3.79% thereafter)(2)
|
100,978
|
|
|
1,415,000
|
4.51%, 10/22/2028, (4.51% fixed rate
until 10/22/2027; 6 mo. USD SOFR +
0.86% thereafter)(2)
|
1,425,943
|
|
|
400,000
|
4.57%, 06/14/2030, (4.57% fixed rate
until 06/14/2029; 6 mo. USD SOFR +
1.75% thereafter)(2)
|
404,491
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Commercial Banks - 3.9% - (continued)
|
||
|
$ 500,000
|
4.59%, 04/26/2033, (4.59% fixed rate
until 04/26/2032; 6 mo. USD SOFR +
1.80% thereafter)(2)
|
$501,967
|
|
|
717,000
|
4.85%, 07/25/2028, (4.85% fixed rate
until 07/25/2027; 6 mo. USD SOFR +
1.99% thereafter)(2)
|
726,116
|
|
|
16,000
|
4.85%, 02/01/2044(5)
|
15,327
|
|
|
25,000
|
4.91%, 07/25/2033, (4.91% fixed rate
until 07/25/2032; 6 mo. USD SOFR +
2.08% thereafter)(2)
|
25,491
|
|
|
310,000
|
4.95%, 10/22/2035, (4.95% fixed rate
until 10/22/2034; 6 mo. USD SOFR +
1.34% thereafter)(2)
|
313,469
|
|
|
1,125,000
|
5.00%, 07/22/2030, (5.00% fixed rate
until 07/22/2029; 6 mo. USD SOFR +
1.13% thereafter)(2)
|
1,154,199
|
|
|
1,050,000
|
5.10%, 04/22/2031, (5.10% fixed rate
until 04/22/2030; 6 mo. USD SOFR +
1.44% thereafter)(2)
|
1,084,516
|
|
|
530,000
|
5.14%, 01/24/2031, (5.14% fixed rate
until 01/24/2030; 6 mo. USD SOFR +
1.01% thereafter)(2)
|
547,615
|
|
|
25,000
|
5.29%, 07/22/2035, (5.29% fixed rate
until 07/22/2034; 6 mo. USD SOFR +
1.46% thereafter)(2)
|
25,852
|
|
|
739,000
|
5.30%, 07/24/2029, (5.30% fixed rate
until 07/24/2028; 6 mo. USD SOFR +
1.45% thereafter)(2)
|
760,846
|
|
|
911,000
|
5.34%, 01/23/2035, (5.34% fixed rate
until 01/23/2034; 6 mo. USD SOFR +
1.62% thereafter)(2)
|
945,788
|
|
|
25,000
|
5.40%, 01/06/2042
|
25,654
|
|
|
100,000
|
5.57%, 04/22/2036, (5.57% fixed rate
until 04/22/2035; 6 mo. USD SOFR +
1.68% thereafter)(2)
|
105,412
|
|
|
1,830,000
|
5.58%, 07/23/2036, (5.58% fixed rate
until 07/23/2035; 6 mo. USD SOFR +
1.64% thereafter)(2)
|
1,897,463
|
|
|
1,500,000
|
5.58%, 04/22/2030, (5.58% fixed rate
until 04/22/2029; 6 mo. USD SOFR +
1.16% thereafter)(2)
|
1,565,360
|
|
|
450,000
|
6.09%, 10/23/2029, (6.09% fixed rate
until 10/23/2028; 6 mo. USD SOFR +
1.57% thereafter)(2)
|
474,257
|
|
|
365,000
|
6.40%, 05/15/2038
|
415,311
|
|
|
EUR
1,100,000
|
mBank SA 0.97%, 09/21/2027, (0.97% fixed
rate until 09/21/2026; 3 mo. EURIBOR +
1.25% thereafter)(2)(6)
|
1,245,955
|
|
|
GBP
750,000
|
Metro Bank Holdings PLC 12.00%,
04/30/2029, (12.00% fixed rate until
04/30/2028; 1 yr. U.K. Government Bond
+ 7.81% thereafter)(2)(6)
|
1,123,582
|
|
|
|
Morgan Stanley
|
|
|
|
$ 10,000
|
1.59%, 05/04/2027, (1.59% fixed rate
until 05/04/2026; 6 mo. USD SOFR +
0.88% thereafter)(2)
|
9,865
|
|
|
855,000
|
1.79%, 02/13/2032, (1.79% fixed rate
until 02/13/2031; 6 mo. USD SOFR +
1.03% thereafter)(2)
|
747,768
|
|
|
75,000
|
2.24%, 07/21/2032, (2.24% fixed rate
until 07/21/2031; 6 mo. USD SOFR +
1.18% thereafter)(2)
|
66,392
|
|
|
|
63
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Commercial Banks - 3.9% - (continued)
|
||
|
$ 50,000
|
2.51%, 10/20/2032, (2.51% fixed rate
until 10/20/2031; 6 mo. USD SOFR +
1.20% thereafter)(2)
|
$44,703
|
|
|
1,006,000
|
2.70%, 01/22/2031, (2.70% fixed rate
until 01/22/2030; 6 mo. USD SOFR +
1.14% thereafter)(2)
|
941,701
|
|
|
840,000
|
3.62%, 04/01/2031, (3.62% fixed rate
until 04/01/2030; 6 mo. USD SOFR +
3.12% thereafter)(2)
|
815,807
|
|
|
25,000
|
3.97%, 07/22/2038(2)
|
22,516
|
|
|
535,000
|
4.43%, 01/23/2030, (4.43% fixed rate
until 01/23/2029; 3 mo. USD Term
SOFR + 1.89% thereafter)(2)
|
538,166
|
|
|
85,000
|
4.46%, 04/22/2039, (4.46% fixed rate
until 04/22/2038; 3 mo. USD Term
SOFR + 1.69% thereafter)(2)
|
80,198
|
|
|
280,000
|
4.65%, 10/18/2030, (4.65% fixed rate
until 10/18/2029; 6 mo. USD SOFR +
1.10% thereafter)(2)
|
283,333
|
|
|
177,000
|
5.16%, 04/20/2029, (5.16% fixed rate
until 04/20/2028; 6 mo. USD SOFR +
1.59% thereafter)(2)
|
180,957
|
|
|
390,000
|
5.23%, 01/15/2031, (5.23% fixed rate
until 01/15/2030; 6 mo. USD SOFR +
1.11% thereafter)(2)
|
402,631
|
|
|
20,000
|
5.42%, 07/21/2034, (5.42% fixed rate
until 07/21/2033; 6 mo. USD SOFR +
1.88% thereafter)(2)
|
20,866
|
|
|
495,000
|
5.45%, 07/20/2029, (5.45% fixed rate
until 07/20/2028; 6 mo. USD SOFR +
1.63% thereafter)(2)
|
510,775
|
|
|
25,000
|
5.66%, 04/17/2036, (5.66% fixed rate
until 04/17/2035; 6 mo. USD SOFR +
1.76% thereafter)(2)
|
26,325
|
|
|
1,395,000
|
5.66%, 04/18/2030, (5.66% fixed rate
until 04/18/2029; 6 mo. USD SOFR +
1.26% thereafter)(2)
|
1,455,211
|
|
|
115,000
|
6.34%, 10/18/2033, (6.34% fixed rate
until 10/18/2032; 6 mo. USD SOFR +
2.56% thereafter)(2)
|
126,473
|
|
|
50,000
|
6.38%, 07/24/2042
|
56,405
|
|
|
|
Royal Bank of Canada
|
|
|
|
30,000
|
5.00%, 02/01/2033
|
30,915
|
|
|
25,000
|
5.00%, 05/02/2033
|
25,718
|
|
|
1,410,000
|
5.15%, 02/04/2031, (5.15% fixed rate
until 02/04/2030; 6 mo. USD SOFR +
1.03% thereafter)(2)
|
1,451,928
|
|
|
|
Wells Fargo & Co.
|
|
|
|
660,000
|
2.57%, 02/11/2031, (2.57% fixed rate
until 02/11/2030; 3 mo. USD Term
SOFR + 1.26% thereafter)(2)
|
615,404
|
|
|
1,944,000
|
3.35%, 03/02/2033, (3.35% fixed rate
until 03/02/2032; 6 mo. USD SOFR +
1.50% thereafter)(2)
|
1,812,437
|
|
|
50,000
|
4.48%, 04/04/2031, (4.48% fixed rate
until 04/04/2030; 3 mo. USD Term
SOFR + 4.03% thereafter)(2)
|
50,293
|
|
|
25,000
|
4.65%, 11/04/2044
|
22,181
|
|
|
1,040,000
|
4.90%, 07/25/2033, (4.90% fixed rate
until 07/25/2032; 6 mo. USD SOFR +
2.10% thereafter)(2)
|
1,055,702
|
|
|
25,000
|
4.97%, 04/23/2029, (4.97% fixed rate
until 04/23/2028; 6 mo. USD SOFR +
1.37% thereafter)(2)
|
25,455
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Commercial Banks - 3.9% - (continued)
|
||
|
$ 1,118,000
|
5.15%, 04/23/2031, (5.15% fixed rate
until 04/23/2030; 6 mo. USD SOFR +
1.50% thereafter)(2)
|
$1,152,997
|
|
|
450,000
|
5.24%, 01/24/2031, (5.24% fixed rate
until 01/24/2030; 6 mo. USD SOFR +
1.11% thereafter)(2)
|
465,742
|
|
|
160,000
|
5.50%, 01/23/2035, (5.50% fixed rate
until 01/23/2034; 6 mo. USD SOFR +
1.78% thereafter)(2)
|
167,025
|
|
|
140,000
|
5.56%, 07/25/2034, (5.56% fixed rate
until 07/25/2033; 6 mo. USD SOFR +
1.99% thereafter)(2)
|
147,017
|
|
|
901,000
|
5.57%, 07/25/2029, (5.57% fixed rate
until 07/25/2028; 6 mo. USD SOFR +
1.74% thereafter)(2)
|
932,557
|
|
|
25,000
|
5.61%, 04/23/2036, (5.61% fixed rate
until 04/23/2035; 6 mo. USD SOFR +
1.74% thereafter)(2)
|
26,272
|
|
|
|
|
|
80,114,080
|
|
|
Commercial Services - 0.2%
|
||
|
1,000,000
|
Allied Universal Holdco LLC 7.88%,
02/15/2031(1)
|
1,041,216
|
|
|
|
Ashtead Capital, Inc.
|
|
|
|
805,000
|
2.45%, 08/12/2031(1)
|
714,082
|
|
|
500,000
|
4.25%, 11/01/2029(1)
|
493,050
|
|
|
225,000
|
5.55%, 05/30/2033(1)
|
231,751
|
|
|
200,000
|
5.80%, 04/15/2034(1)
|
209,415
|
|
|
EUR
200,000
|
BCP V Modular Services Finance II PLC
4.75%, 11/30/2028(6)
|
217,729
|
|
|
$ 639,000
|
Block, Inc. 3.50%, 06/01/2031
|
594,965
|
|
|
554,000
|
Service Corp. International 3.38%,
08/15/2030
|
514,810
|
|
|
|
|
|
4,017,018
|
|
|
Construction Materials - 0.1%
|
||
|
860,000
|
Builders FirstSource, Inc. 5.00%,
03/01/2030(1)
|
851,350
|
|
|
|
CP Atlas Buyer, Inc.
|
|
|
|
500,000
|
9.75%, 07/15/2030(1)
|
521,586
|
|
|
250,000
|
12.75%, 01/15/2031(1)(8)
|
244,861
|
|
|
1,000,000
|
JH North America Holdings, Inc. 6.13%,
07/31/2032(1)
|
1,025,595
|
|
|
|
|
|
2,643,392
|
|
|
Diversified Financial Services - 0.9%
|
||
|
|
American Express Co.
|
|
|
|
30,000
|
4.05%, 12/03/2042(5)
|
26,056
|
|
|
17,000
|
4.42%, 08/03/2033, (4.42% fixed rate
until 08/03/2032; 6 mo. USD SOFR +
1.76% thereafter)(2)
|
16,859
|
|
|
50,000
|
4.99%, 05/26/2033, (4.99% fixed rate
until 02/26/2032; 6 mo. USD SOFR +
2.26% thereafter)(2)
|
51,110
|
|
|
1,228,000
|
5.02%, 04/25/2031, (5.02% fixed rate
until 04/25/2030; 6 mo. USD SOFR +
1.44% thereafter)(2)(5)
|
1,262,936
|
|
|
3,000
|
5.04%, 05/01/2034, (5.04% fixed rate
until 05/01/2033; 6 mo. USD SOFR +
1.84% thereafter)(2)
|
3,084
|
|
|
1,405,000
|
5.09%, 01/30/2031, (5.09% fixed rate
until 01/30/2030; 6 mo. USD SOFR +
1.02% thereafter)(2)
|
1,447,825
|
|
|
|
64
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Diversified Financial Services - 0.9% - (continued)
|
||
|
$ 35,000
|
5.67%, 04/25/2036, (5.67% fixed rate
until 04/25/2035; 6 mo. USD SOFR +
1.79% thereafter)(2)
|
$36,968
|
|
|
|
Ameriprise Financial, Inc.
|
|
|
|
975,000
|
5.20%, 04/15/2035
|
996,736
|
|
|
45,000
|
5.70%, 12/15/2028
|
47,062
|
|
|
|
Capital One Financial Corp.
|
|
|
|
75,000
|
2.62%, 11/02/2032, (2.62% fixed rate
until 11/02/2031; 6 mo. USD SOFR +
1.27% thereafter)(2)
|
66,719
|
|
|
1,355,000
|
4.49%, 09/11/2031, (4.49% fixed rate
until 09/11/2030; 6 mo. USD SOFR +
1.25% thereafter)(2)
|
1,345,138
|
|
|
5,000
|
5.27%, 05/10/2033, (5.27% fixed rate
until 05/10/2032; 6 mo. USD SOFR +
2.37% thereafter)(2)
|
5,105
|
|
|
355,000
|
6.05%, 02/01/2035, (6.05% fixed rate
until 02/01/2034; 6 mo. USD SOFR +
2.26% thereafter)(2)
|
376,425
|
|
|
730,000
|
6.18%, 01/30/2036, (6.18% fixed rate
until 01/30/2035; 6 mo. USD SOFR +
2.04% thereafter)(2)
|
760,778
|
|
|
60,000
|
6.70%, 11/29/2032
|
66,295
|
|
|
1,570,000
|
7.62%, 10/30/2031, (7.62% fixed rate
until 10/30/2030; 6 mo. USD SOFR +
3.07% thereafter)(2)
|
1,770,664
|
|
|
995,000
|
7.96%, 11/02/2034, (7.96% fixed rate
until 11/02/2033; 6 mo. USD SOFR +
3.37% thereafter)(2)
|
1,173,739
|
|
|
1,000,000
|
CrossCountry Intermediate HoldCo LLC
6.50%, 10/01/2030(1)
|
1,009,224
|
|
|
2,175,000
|
Equitable America Global Funding 4.70%,
09/15/2032(1)
|
2,170,188
|
|
|
|
Freedom Mortgage Holdings LLC
|
|
|
|
500,000
|
7.88%, 04/01/2033(1)
|
513,602
|
|
|
500,000
|
9.25%, 02/01/2029(1)
|
525,000
|
|
|
400,000
|
Rfna LP 7.88%, 02/15/2030(1)
|
398,306
|
|
|
|
Synchrony Financial
|
|
|
|
770,000
|
2.88%, 10/28/2031
|
683,654
|
|
|
1,390,000
|
5.45%, 03/06/2031, (5.45% fixed rate
until 03/06/2030; 6 mo. USD SOFR +
1.68% thereafter)(2)
|
1,413,943
|
|
|
1,866,000
|
6.00%, 07/29/2036, (6.00% fixed rate
until 07/29/2035; 6 mo. USD SOFR +
2.07% thereafter)(2)
|
1,907,920
|
|
|
|
|
|
18,075,336
|
|
|
Electric - 4.7%
|
||
|
915,000
|
AES Andes SA 6.25%, 03/14/2032(1)
|
954,283
|
|
|
|
Alabama Power Co.
|
|
|
|
100,000
|
3.05%, 03/15/2032
|
92,549
|
|
|
295,000
|
3.45%, 10/01/2049
|
216,280
|
|
|
10,000
|
3.70%, 12/01/2047
|
7,784
|
|
|
10,000
|
3.85%, 12/01/2042
|
8,326
|
|
|
728,000
|
4.15%, 08/15/2044
|
624,287
|
|
|
35,000
|
4.30%, 07/15/2048
|
29,837
|
|
|
95,000
|
5.10%, 04/02/2035
|
97,133
|
|
|
300,000
|
5.85%, 11/15/2033
|
322,595
|
|
|
15,000
|
6.00%, 03/01/2039
|
16,324
|
|
|
25,000
|
American Electric Power Co., Inc. 2.30%,
03/01/2030
|
22,971
|
|
|
|
Arizona Public Service Co.
|
|
|
|
25,000
|
5.05%, 09/01/2041
|
23,852
|
|
|
1,015,000
|
5.70%, 08/15/2034
|
1,067,296
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Electric - 4.7% - (continued)
|
||
|
|
Baltimore Gas & Electric Co.
|
|
|
|
$ 20,000
|
2.25%, 06/15/2031(5)
|
$17,974
|
|
|
25,000
|
4.25%, 09/15/2048
|
20,946
|
|
|
1,065,000
|
5.45%, 06/01/2035
|
1,109,246
|
|
|
|
Clearway Energy Operating LLC
|
|
|
|
750,000
|
3.75%, 02/15/2031(1)
|
694,529
|
|
|
215,000
|
4.75%, 03/15/2028(1)
|
213,796
|
|
|
389,000
|
Cleco Corporate Holdings LLC 3.38%,
09/15/2029
|
365,525
|
|
|
|
Consolidated Edison Co. of New York, Inc.
|
|
|
|
395,000
|
3.20%, 12/01/2051
|
270,479
|
|
|
229,000
|
3.95%, 04/01/2050
|
183,237
|
|
|
160,000
|
4.00%, 11/15/2057
|
122,796
|
|
|
3,000
|
5.30%, 03/01/2035
|
3,104
|
|
|
145,000
|
5.38%, 05/15/2034
|
151,062
|
|
|
950,000
|
5.50%, 03/15/2055
|
948,182
|
|
|
265,000
|
5.70%, 05/15/2054
|
271,964
|
|
|
20,000
|
5.90%, 11/15/2053
|
20,987
|
|
|
47,000
|
6.15%, 11/15/2052
|
50,708
|
|
|
5,000
|
6.75%, 04/01/2038
|
5,754
|
|
|
|
Dominion Energy, Inc.
|
|
|
|
260,000
|
4.90%, 08/01/2041
|
242,212
|
|
|
820,000
|
5.00%, 06/15/2030
|
841,168
|
|
|
5,110,000
|
6.00%, 02/15/2056, (6.00% fixed rate
until 11/15/2030; 5 yr. USD CMT +
2.26% thereafter)(2)
|
5,176,747
|
|
|
|
Duke Energy Carolinas LLC
|
|
|
|
30,000
|
3.20%, 08/15/2049
|
20,962
|
|
|
180,000
|
4.25%, 12/15/2041
|
159,768
|
|
|
30,000
|
6.45%, 10/15/2032
|
33,239
|
|
|
|
Duke Energy Corp.
|
|
|
|
2,384,000
|
2.55%, 06/15/2031
|
2,160,604
|
|
|
25,000
|
3.25%, 01/15/2082, (3.25% fixed rate
until 01/15/2027; 5 yr. USD CMT +
2.32% thereafter)(2)
|
24,052
|
|
|
380,000
|
3.30%, 06/15/2041
|
294,627
|
|
|
452,700
|
3.75%, 09/01/2046
|
349,019
|
|
|
10,000
|
4.80%, 12/15/2045
|
8,987
|
|
|
2,395,000
|
4.95%, 09/15/2035
|
2,381,377
|
|
|
1,160,000
|
5.00%, 08/15/2052
|
1,047,726
|
|
|
10,000
|
5.70%, 09/15/2055
|
9,977
|
|
|
2,000
|
6.45%, 09/01/2054, (6.45% fixed rate
until 06/01/2034; 5 yr. USD CMT +
2.59% thereafter)(2)
|
2,115
|
|
|
|
Duke Energy Florida LLC
|
|
|
|
925,000
|
1.75%, 06/15/2030
|
831,724
|
|
|
10,000
|
3.40%, 10/01/2046
|
7,444
|
|
|
25,000
|
5.65%, 04/01/2040
|
26,225
|
|
|
5,000
|
6.40%, 06/15/2038
|
5,634
|
|
|
|
Duke Energy Indiana LLC
|
|
|
|
75,000
|
2.75%, 04/01/2050
|
47,647
|
|
|
1,211,000
|
3.25%, 10/01/2049
|
853,019
|
|
|
30,000
|
6.45%, 04/01/2039
|
33,637
|
|
|
|
Duke Energy Ohio, Inc.
|
|
|
|
15,000
|
3.70%, 06/15/2046
|
11,677
|
|
|
105,000
|
4.30%, 02/01/2049
|
87,846
|
|
|
5,000
|
5.30%, 06/15/2035
|
5,163
|
|
|
435,000
|
5.55%, 03/15/2054
|
437,214
|
|
|
|
Duke Energy Progress LLC
|
|
|
|
341,000
|
3.70%, 10/15/2046
|
265,855
|
|
|
7,000
|
4.10%, 03/15/2043
|
5,983
|
|
|
10,000
|
4.20%, 08/15/2045
|
8,511
|
|
|
755,000
|
5.05%, 03/15/2035
|
769,935
|
|
|
100,000
|
5.35%, 03/15/2053
|
97,953
|
|
|
|
65
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Electric - 4.7% - (continued)
|
||
|
$ 810,000
|
5.55%, 03/15/2055
|
$816,958
|
|
|
|
Edison International
|
|
|
|
129,000
|
5.25%, 11/15/2028
|
129,883
|
|
|
650,000
|
5.25%, 03/15/2032(5)
|
643,289
|
|
|
1,290,000
|
6.25%, 03/15/2030
|
1,339,660
|
|
|
|
Eversource Energy
|
|
|
|
1,680,000
|
4.45%, 12/15/2030
|
1,674,185
|
|
|
1,375,000
|
5.13%, 05/15/2033
|
1,395,835
|
|
|
1,637,000
|
5.50%, 01/01/2034
|
1,695,810
|
|
|
27,000
|
5.95%, 02/01/2029
|
28,287
|
|
|
|
Georgia Power Co.
|
|
|
|
75,000
|
3.70%, 01/30/2050
|
57,535
|
|
|
548,000
|
4.30%, 03/15/2042
|
485,706
|
|
|
1,080,000
|
4.55%, 03/15/2030
|
1,098,796
|
|
|
1,990,000
|
4.85%, 03/15/2031
|
2,042,165
|
|
|
1,280,000
|
5.20%, 03/15/2035
|
1,319,006
|
|
|
10,000
|
5.50%, 10/01/2055
|
9,965
|
|
|
1,530,000
|
Interstate Power & Light Co. 5.60%,
06/29/2035
|
1,595,676
|
|
|
310,000
|
Jersey Central Power & Light Co. 5.10%,
01/15/2035
|
314,391
|
|
|
|
Monongahela Power Co.
|
|
|
|
50,000
|
5.40%, 12/15/2043(1)
|
49,941
|
|
|
150,000
|
5.85%, 02/15/2034(1)
|
159,446
|
|
|
|
NSTAR Electric Co.
|
|
|
|
30,000
|
3.10%, 06/01/2051
|
20,697
|
|
|
550,000
|
5.20%, 03/01/2035
|
562,588
|
|
|
695,000
|
5.40%, 06/01/2034
|
722,518
|
|
|
|
Ohio Edison Co.
|
|
|
|
5,000
|
4.95%, 12/15/2029(1)
|
5,119
|
|
|
380,000
|
5.50%, 01/15/2033(1)
|
396,632
|
|
|
|
Oncor Electric Delivery Co. LLC
|
|
|
|
25,000
|
2.70%, 11/15/2051
|
15,417
|
|
|
35,000
|
4.10%, 11/15/2048
|
28,623
|
|
|
15,000
|
4.60%, 06/01/2052
|
12,917
|
|
|
855,000
|
5.35%, 04/01/2035(1)
|
886,984
|
|
|
35,000
|
5.35%, 10/01/2052
|
34,000
|
|
|
48,000
|
7.50%, 09/01/2038
|
58,501
|
|
|
|
Pacific Gas & Electric Co.
|
|
|
|
540,500
|
2.50%, 02/01/2031
|
483,777
|
|
|
611,000
|
3.30%, 08/01/2040
|
463,993
|
|
|
340,000
|
3.50%, 08/01/2050
|
232,336
|
|
|
80,000
|
4.20%, 03/01/2029
|
79,184
|
|
|
1,296,000
|
4.55%, 07/01/2030
|
1,287,768
|
|
|
390,000
|
4.75%, 02/15/2044
|
332,962
|
|
|
239,000
|
4.95%, 07/01/2050
|
205,717
|
|
|
720,000
|
5.05%, 10/15/2032
|
721,264
|
|
|
2,935,000
|
5.80%, 05/15/2034
|
3,041,719
|
|
|
1,202,000
|
5.90%, 06/15/2032
|
1,257,800
|
|
|
1,536,000
|
5.90%, 10/01/2054
|
1,495,354
|
|
|
1,536,000
|
6.10%, 01/15/2029
|
1,602,289
|
|
|
1,521,000
|
6.15%, 01/15/2033
|
1,614,402
|
|
|
715,000
|
6.15%, 03/01/2055
|
719,845
|
|
|
335,000
|
6.70%, 04/01/2053
|
358,981
|
|
|
1,772,000
|
6.75%, 01/15/2053
|
1,913,970
|
|
|
1,454,000
|
6.95%, 03/15/2034
|
1,613,563
|
|
|
|
Pinnacle West Capital Corp.
|
|
|
|
1,273,000
|
4.90%, 05/15/2028
|
1,292,567
|
|
|
1,132,000
|
5.15%, 05/15/2030
|
1,166,515
|
|
|
|
Public Service Co. of Oklahoma
|
|
|
|
68,000
|
2.20%, 08/15/2031
|
60,071
|
|
|
1,045,000
|
5.20%, 01/15/2035
|
1,057,644
|
|
|
|
Public Service Enterprise Group, Inc.
|
|
|
|
1,555,000
|
4.90%, 03/15/2030
|
1,587,161
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Electric - 4.7% - (continued)
|
||
|
$ 255,000
|
5.45%, 04/01/2034
|
$264,823
|
|
|
540,000
|
6.13%, 10/15/2033
|
582,858
|
|
|
|
Puget Energy, Inc.
|
|
|
|
396,000
|
4.10%, 06/15/2030
|
387,767
|
|
|
689,000
|
4.22%, 03/15/2032
|
661,309
|
|
|
4,000,000
|
5.73%, 03/15/2035
|
4,114,140
|
|
|
|
San Diego Gas & Electric Co.
|
|
|
|
50,000
|
3.70%, 03/15/2052
|
36,907
|
|
|
15,000
|
4.15%, 05/15/2048
|
12,246
|
|
|
5,000
|
4.50%, 08/15/2040
|
4,624
|
|
|
15,000
|
5.35%, 04/01/2053
|
14,478
|
|
|
1,310,000
|
5.40%, 04/15/2035
|
1,356,628
|
|
|
|
Southern California Edison Co.
|
|
|
|
265,000
|
3.65%, 02/01/2050
|
186,907
|
|
|
85,000
|
3.90%, 03/15/2043
|
66,487
|
|
|
531,000
|
4.00%, 04/01/2047
|
405,124
|
|
|
463,000
|
4.05%, 03/15/2042
|
373,536
|
|
|
1,452,000
|
4.13%, 03/01/2048
|
1,122,460
|
|
|
571,000
|
4.20%, 03/01/2029
|
565,039
|
|
|
45,000
|
4.50%, 09/01/2040
|
39,675
|
|
|
194,000
|
4.65%, 10/01/2043
|
166,548
|
|
|
1,235,000
|
5.45%, 03/01/2035
|
1,251,949
|
|
|
1,069,000
|
5.45%, 06/01/2052
|
983,985
|
|
|
733,000
|
5.70%, 03/01/2053
|
695,353
|
|
|
1,209,000
|
5.88%, 12/01/2053
|
1,176,772
|
|
|
796,000
|
5.90%, 03/01/2055
|
783,255
|
|
|
1,105,000
|
5.95%, 11/01/2032
|
1,165,934
|
|
|
390,000
|
6.00%, 01/15/2034
|
409,009
|
|
|
50,000
|
6.20%, 09/15/2055
|
51,029
|
|
|
|
Southern Co.
|
|
|
|
1,095,000
|
3.25%, 07/01/2026
|
1,088,550
|
|
|
75,000
|
4.00%, 01/15/2051, (4.00% fixed rate
until 11/10/2025; 5 yr. USD CMT +
3.73% thereafter)(2)
|
74,692
|
|
|
390,000
|
4.85%, 03/15/2035
|
386,148
|
|
|
|
Southern Power Co.
|
|
|
|
570,000
|
4.90%, 10/01/2035
|
563,945
|
|
|
10,000
|
5.15%, 09/15/2041
|
9,674
|
|
|
1,230,000
|
Trans-Allegheny Interstate Line Co. 5.00%,
01/15/2031(1)
|
1,262,946
|
|
|
|
Virginia Electric & Power Co.
|
|
|
|
59,000
|
2.45%, 12/15/2050
|
34,581
|
|
|
73,000
|
2.95%, 11/15/2051
|
47,021
|
|
|
95,000
|
4.20%, 05/15/2045
|
80,000
|
|
|
35,000
|
4.63%, 05/15/2052
|
30,321
|
|
|
1,150,000
|
4.90%, 09/15/2035
|
1,146,531
|
|
|
1,165,000
|
5.00%, 04/01/2033
|
1,188,334
|
|
|
1,408,000
|
5.00%, 01/15/2034
|
1,424,663
|
|
|
435,000
|
5.05%, 08/15/2034
|
441,413
|
|
|
1,310,000
|
5.15%, 03/15/2035
|
1,336,259
|
|
|
180,000
|
5.30%, 08/15/2033
|
186,758
|
|
|
345,000
|
5.35%, 01/15/2054
|
332,610
|
|
|
185,000
|
5.65%, 03/15/2055
|
186,217
|
|
|
5,000
|
6.00%, 05/15/2037
|
5,403
|
|
|
50,000
|
6.35%, 11/30/2037
|
55,374
|
|
|
67,000
|
8.88%, 11/15/2038
|
90,268
|
|
|
|
Wisconsin Power & Light Co.
|
|
|
|
15,000
|
3.00%, 07/01/2029
|
14,410
|
|
|
25,000
|
3.65%, 04/01/2050
|
18,511
|
|
|
41,000
|
3.95%, 09/01/2032
|
39,457
|
|
|
825,000
|
5.38%, 03/30/2034
|
852,936
|
|
|
|
Xcel Energy, Inc.
|
|
|
|
150,000
|
1.75%, 03/15/2027
|
145,179
|
|
|
563,000
|
4.60%, 06/01/2032
|
559,088
|
|
|
|
66
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Electric - 4.7% - (continued)
|
||
|
$ 1,185,000
|
4.75%, 03/21/2028
|
$1,200,400
|
|
|
850,000
|
5.60%, 04/15/2035
|
881,880
|
|
|
1,000,000
|
XPLR Infrastructure Operating Partners LP
7.25%, 01/15/2029(1)(5)
|
1,028,667
|
|
|
|
|
|
95,962,343
|
|
|
Electronics - 0.0%
|
||
|
210,000
|
Imola Merger Corp. 4.75%, 05/15/2029(1)
|
206,998
|
|
|
|
Energy-Alternate Sources - 0.0%
|
||
|
65,000
|
Arizona Public Service Co. 5.55%,
08/01/2033(5)
|
68,083
|
|
|
50,000
|
Southern California Edison Co. 5.75%,
04/15/2054
|
47,697
|
|
|
|
|
|
115,780
|
|
|
Engineering & Construction - 0.1%
|
||
|
1,235,000
|
IHS Holding Ltd. 6.25%, 11/29/2028(1)
|
1,233,495
|
|
|
|
International Airport Finance SA
|
|
|
|
1,006,055
|
12.00%, 03/15/2033(1)
|
1,073,417
|
|
|
463,660
|
12.00%, 03/15/2033(6)
|
494,705
|
|
|
|
|
|
2,801,617
|
|
|
Entertainment - 0.2%
|
||
|
1,000,000
|
Cinemark USA, Inc. 7.00%, 08/01/2032(1)
|
1,036,316
|
|
|
165,000
|
Great Canadian Gaming Corp./Raptor LLC
8.75%, 11/15/2029(1)
|
161,321
|
|
|
500,000
|
Penn Entertainment, Inc. 4.13%,
07/01/2029(1)(5)
|
465,636
|
|
|
|
WMG Acquisition Corp.
|
|
|
|
715,000
|
3.75%, 12/01/2029(1)
|
683,992
|
|
|
2,850,000
|
3.88%, 07/15/2030(1)
|
2,718,509
|
|
|
|
|
|
5,065,774
|
|
|
Environmental Control - 0.1%
|
||
|
2,547,000
|
Clean Harbors, Inc. 6.38%, 02/01/2031(1)
|
2,609,447
|
|
|
|
Food - 1.0%
|
||
|
GBP
750,000
|
Bellis Acquisition Co. PLC 8.13%,
05/14/2030(6)
|
952,150
|
|
|
|
JBS USA Holding Lux SARL/JBS USA Food
Co./JBS Lux Co. SARL
|
|
|
|
$ 50,000
|
4.38%, 02/02/2052
|
39,397
|
|
|
430,000
|
5.75%, 04/01/2033
|
447,945
|
|
|
40,000
|
6.50%, 12/01/2052
|
41,493
|
|
|
590,000
|
6.75%, 03/15/2034
|
650,919
|
|
|
595,000
|
7.25%, 11/15/2053
|
674,065
|
|
|
|
JBS USA Holding Lux SARL/JBS USA
Foods Group Holdings, Inc./JBS USA
Food Co.
|
|
|
|
1,905,000
|
5.50%, 01/15/2036(1)
|
1,930,375
|
|
|
25,000
|
6.25%, 03/01/2056(1)
|
25,165
|
|
|
3,145,000
|
6.38%, 04/15/2066(1)
|
3,217,398
|
|
|
|
Mars, Inc.
|
|
|
|
100,000
|
3.60%, 04/01/2034(1)
|
92,474
|
|
|
630,000
|
4.60%, 03/01/2028(1)
|
637,418
|
|
|
3,250,000
|
5.00%, 03/01/2032(1)
|
3,339,779
|
|
|
1,400,000
|
5.20%, 03/01/2035(1)
|
1,436,949
|
|
|
4,630,000
|
5.65%, 05/01/2045(1)
|
4,718,848
|
|
|
495,000
|
5.80%, 05/01/2065(1)
|
509,119
|
|
|
970,000
|
Pilgrim's Pride Corp. 4.25%, 04/15/2031
|
938,854
|
|
|
1,860,000
|
Sysco Corp. 5.10%, 09/23/2030
|
1,917,450
|
|
|
|
|
|
21,569,798
|
|
|
Gas - 0.5%
|
||
|
|
Boston Gas Co.
|
|
|
|
636,000
|
3.76%, 03/16/2032(1)
|
604,122
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Gas - 0.5% - (continued)
|
||
|
$ 50,000
|
5.84%, 01/10/2035(1)
|
$53,086
|
|
|
|
Brooklyn Union Gas Co.
|
|
|
|
20,000
|
4.49%, 03/04/2049(1)
|
16,401
|
|
|
90,000
|
4.87%, 08/05/2032(1)
|
89,036
|
|
|
|
KeySpan Gas East Corp.
|
|
|
|
45,000
|
5.82%, 04/01/2041(1)
|
45,048
|
|
|
260,000
|
5.99%, 03/06/2033(1)
|
275,210
|
|
|
2,135,000
|
MPLX LP 5.50%, 06/01/2034
|
2,175,938
|
|
|
|
NiSource, Inc.
|
|
|
|
91,000
|
1.70%, 02/15/2031
|
79,153
|
|
|
501,000
|
3.49%, 05/15/2027
|
496,543
|
|
|
15,000
|
4.80%, 02/15/2044
|
13,676
|
|
|
1,875,000
|
5.35%, 07/15/2035(5)
|
1,912,761
|
|
|
470,000
|
5.40%, 06/30/2033
|
487,154
|
|
|
|
Southern California Gas Co.
|
|
|
|
537,000
|
5.60%, 04/01/2054
|
541,333
|
|
|
15,000
|
5.75%, 06/01/2053
|
15,195
|
|
|
1,875,000
|
6.00%, 06/15/2055
|
1,966,593
|
|
|
|
Southern Co. Gas Capital Corp.
|
|
|
|
1,940,000
|
5.10%, 09/15/2035
|
1,951,332
|
|
|
15,000
|
5.88%, 03/15/2041
|
15,681
|
|
|
|
|
|
10,738,262
|
|
|
Healthcare - Products - 0.4%
|
||
|
215,000
|
Alcon Finance Corp. 5.75%, 12/06/2052(1)
|
221,123
|
|
|
|
Avantor Funding, Inc.
|
|
|
|
1,370,000
|
3.88%, 11/01/2029(1)
|
1,301,176
|
|
|
700,000
|
4.63%, 07/15/2028(1)
|
688,753
|
|
|
2,350,000
|
GE HealthCare Technologies, Inc. 5.50%,
06/15/2035
|
2,435,440
|
|
|
|
Thermo Fisher Scientific, Inc.
|
|
|
|
3,615,000
|
4.47%, 10/07/2032
|
3,613,314
|
|
|
10,000
|
5.30%, 02/01/2044
|
9,980
|
|
|
65,000
|
5.40%, 08/10/2043
|
65,876
|
|
|
|
|
|
8,335,662
|
|
|
Healthcare - Services - 0.7%
|
||
|
|
Acadia Healthcare Co., Inc.
|
|
|
|
250,000
|
5.00%, 04/15/2029(1)
|
244,634
|
|
|
500,000
|
7.38%, 03/15/2033(1)(5)
|
516,882
|
|
|
|
Centene Corp.
|
|
|
|
1,605,000
|
2.50%, 03/01/2031
|
1,381,231
|
|
|
1,265,000
|
2.63%, 08/01/2031
|
1,085,243
|
|
|
25,000
|
3.00%, 10/15/2030(5)
|
22,304
|
|
|
220,000
|
4.63%, 12/15/2029
|
213,414
|
|
|
|
CHS/Community Health Systems, Inc.
|
|
|
|
300,000
|
4.75%, 02/15/2031(1)
|
267,810
|
|
|
300,000
|
6.88%, 04/15/2029(1)
|
271,989
|
|
|
200,000
|
10.88%, 01/15/2032(1)
|
215,606
|
|
|
|
Cigna Group
|
|
|
|
75,000
|
4.80%, 07/15/2046
|
67,507
|
|
|
1,570,000
|
4.88%, 09/15/2032
|
1,584,222
|
|
|
52,000
|
5.13%, 05/15/2031
|
53,859
|
|
|
|
Humana, Inc.
|
|
|
|
1,440,000
|
5.38%, 04/15/2031
|
1,487,315
|
|
|
1,595,000
|
5.55%, 05/01/2035
|
1,630,992
|
|
|
10,000
|
5.75%, 12/01/2028
|
10,401
|
|
|
1,000,000
|
Star Parent, Inc. 9.00%, 10/01/2030(1)
|
1,067,775
|
|
|
|
UnitedHealth Group, Inc.
|
|
|
|
1,708,000
|
2.75%, 05/15/2040
|
1,277,729
|
|
|
20,000
|
3.25%, 05/15/2051
|
13,699
|
|
|
445,000
|
3.70%, 08/15/2049
|
335,183
|
|
|
5,000
|
3.75%, 10/15/2047
|
3,861
|
|
|
3,000
|
4.25%, 03/15/2043
|
2,609
|
|
|
70,000
|
4.45%, 12/15/2048
|
59,678
|
|
|
|
67
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Healthcare - Services - 0.7% - (continued)
|
||
|
$ 223,000
|
4.95%, 05/15/2062
|
$197,142
|
|
|
25,000
|
5.20%, 04/15/2063
|
22,890
|
|
|
170,000
|
5.30%, 02/15/2030
|
177,080
|
|
|
430,000
|
5.30%, 06/15/2035
|
445,095
|
|
|
980,000
|
5.38%, 04/15/2054
|
942,886
|
|
|
10,000
|
5.50%, 04/15/2064
|
9,609
|
|
|
15,000
|
5.63%, 07/15/2054
|
14,922
|
|
|
30,000
|
5.70%, 10/15/2040
|
31,145
|
|
|
380,000
|
5.75%, 07/15/2064
|
379,485
|
|
|
460,000
|
5.88%, 02/15/2053
|
472,370
|
|
|
20,000
|
6.63%, 11/15/2037
|
22,738
|
|
|
|
|
|
14,529,305
|
|
|
Household Products - 0.1%
|
||
|
|
Coty, Inc./HFC Prestige Products, Inc./HFC
Prestige International U.S. LLC
|
|
|
|
835,000
|
5.60%, 01/15/2031(1)
|
837,811
|
|
|
5,000
|
6.63%, 07/15/2030(1)(5)
|
5,115
|
|
|
|
Kenvue, Inc.
|
|
|
|
1,335,000
|
4.85%, 05/22/2032(5)
|
1,352,498
|
|
|
15,000
|
5.10%, 03/22/2043
|
14,346
|
|
|
|
|
|
2,209,770
|
|
|
Insurance - 0.6%
|
||
|
3,395,000
|
Arthur J. Gallagher & Co. 5.15%,
02/15/2035
|
3,427,909
|
|
|
|
Athene Global Funding
|
|
|
|
25,000
|
2.55%, 11/19/2030(1)
|
22,604
|
|
|
1,244,000
|
2.65%, 10/04/2031(1)
|
1,103,888
|
|
|
2,005,000
|
4.72%, 10/08/2029(1)
|
2,012,736
|
|
|
15,000
|
5.03%, 07/17/2030(1)
|
15,218
|
|
|
10,000
|
5.38%, 01/07/2030(1)
|
10,263
|
|
|
|
Equitable Financial Life Global Funding
|
|
|
|
45,000
|
1.75%, 11/15/2030(1)
|
39,525
|
|
|
323,000
|
1.80%, 03/08/2028(1)
|
305,686
|
|
|
630,000
|
5.00%, 03/27/2030(1)
|
644,039
|
|
|
259,000
|
Equitable Holdings, Inc. 4.35%, 04/20/2028
|
259,740
|
|
|
1,470,000
|
GA Global Funding Trust 4.50%,
09/18/2030(1)
|
1,450,052
|
|
|
|
Howden U.K. Refinance PLC/Howden U.K.
Refinance 2 PLC/Howden U.S. Refinance
LLC
|
|
|
|
500,000
|
7.25%, 02/15/2031(1)
|
515,342
|
|
|
466,000
|
8.13%, 02/15/2032(1)
|
480,962
|
|
|
1,240,000
|
Lincoln Financial Global Funding 4.63%,
05/28/2028(1)
|
1,251,205
|
|
|
|
Marsh & McLennan Cos., Inc.
|
|
|
|
10,000
|
2.90%, 12/15/2051
|
6,466
|
|
|
25,000
|
4.20%, 03/01/2048
|
20,996
|
|
|
5,000
|
5.45%, 03/15/2054
|
4,973
|
|
|
|
|
|
11,571,604
|
|
|
Internet - 0.6%
|
||
|
|
Alphabet, Inc.
|
|
|
|
50,000
|
1.90%, 08/15/2040
|
34,126
|
|
|
15,000
|
5.25%, 05/15/2055
|
14,864
|
|
|
2,470,000
|
5.30%, 05/15/2065
|
2,426,990
|
|
|
|
Meta Platforms, Inc.
|
|
|
|
105,000
|
4.45%, 08/15/2052
|
87,875
|
|
|
1,125,000
|
4.60%, 11/15/2032
|
1,130,655
|
|
|
345,000
|
5.40%, 08/15/2054(5)
|
332,216
|
|
|
2,420,000
|
5.50%, 11/15/2045
|
2,399,071
|
|
|
1,145,000
|
5.55%, 08/15/2064
|
1,108,693
|
|
|
50,000
|
5.75%, 05/15/2063
|
49,847
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Internet - 0.6% - (continued)
|
||
|
$ 2,860,000
|
Uber Technologies, Inc. 4.80%,
09/15/2035(5)
|
$2,838,366
|
|
|
EUR
500,000
|
United Group BV 6.50%, 10/31/2031(1)
|
587,008
|
|
|
$ 1,000,000
|
Wayfair LLC 7.25%, 10/31/2029(1)
|
1,034,070
|
|
|
|
|
|
12,043,781
|
|
|
Investment Company Security - 0.4%
|
||
|
|
Ares Strategic Income Fund
|
|
|
|
1,820,000
|
5.15%, 01/15/2031(1)
|
1,784,774
|
|
|
65,000
|
5.45%, 09/09/2028(1)
|
65,270
|
|
|
1,325,000
|
5.80%, 09/09/2030(1)
|
1,336,329
|
|
|
3,195,000
|
Blackstone Secured Lending Fund 5.13%,
01/31/2031(5)
|
3,148,640
|
|
|
1,065,000
|
HPS Corporate Lending Fund 5.85%,
06/05/2030(1)
|
1,075,394
|
|
|
|
|
|
7,410,407
|
|
|
IT Services - 0.4%
|
||
|
1,971,000
|
Gartner, Inc. 4.50%, 07/01/2028(1)
|
1,954,792
|
|
|
|
Hewlett Packard Enterprise Co.
|
|
|
|
360,000
|
5.00%, 10/15/2034
|
356,203
|
|
|
1,930,000
|
5.60%, 10/15/2054
|
1,824,224
|
|
|
1,210,000
|
Insight Enterprises, Inc. 6.63%,
05/15/2032(1)
|
1,238,389
|
|
|
|
International Business Machines Corp.
|
|
|
|
1,430,000
|
4.80%, 02/10/2030
|
1,463,865
|
|
|
100,000
|
5.70%, 02/10/2055
|
100,031
|
|
|
1,000,000
|
McAfee Corp. 7.38%, 02/15/2030(1)(5)
|
915,441
|
|
|
|
|
|
7,852,945
|
|
|
Leisure Time - 0.0%
|
||
|
500,000
|
NCL Corp. Ltd. 6.25%, 03/01/2030(1)
|
507,921
|
|
|
|
Lodging - 0.1%
|
||
|
|
Las Vegas Sands Corp.
|
|
|
|
885,000
|
5.63%, 06/15/2028
|
904,941
|
|
|
40,000
|
6.00%, 08/15/2029
|
41,665
|
|
|
1,355,000
|
6.00%, 06/14/2030
|
1,416,591
|
|
|
|
|
|
2,363,197
|
|
|
Machinery-Diversified - 0.1%
|
||
|
1,265,000
|
Westinghouse Air Brake Technologies Corp.
4.90%, 05/29/2030
|
1,292,988
|
|
|
|
Media - 0.8%
|
||
|
1,500,000
|
CCO Holdings LLC/CCO Holdings Capital
Corp. 4.25%, 02/01/2031(1)
|
1,357,678
|
|
|
|
Charter Communications
Operating LLC/Charter Communications
Operating Capital
|
|
|
|
20,000
|
3.50%, 06/01/2041
|
14,427
|
|
|
199,000
|
3.50%, 03/01/2042
|
140,851
|
|
|
955,000
|
3.70%, 04/01/2051
|
624,243
|
|
|
100,000
|
5.13%, 07/01/2049
|
80,621
|
|
|
925,000
|
5.25%, 04/01/2053
|
753,066
|
|
|
665,000
|
5.38%, 05/01/2047
|
564,220
|
|
|
344,000
|
5.75%, 04/01/2048
|
305,105
|
|
|
830,000
|
5.85%, 12/01/2035
|
827,757
|
|
|
2,000,000
|
6.38%, 10/23/2035
|
2,071,704
|
|
|
202,000
|
6.48%, 10/23/2045
|
195,142
|
|
|
545,000
|
6.55%, 06/01/2034
|
573,568
|
|
|
24,000
|
6.65%, 02/01/2034
|
25,369
|
|
|
25,000
|
6.83%, 10/23/2055
|
24,861
|
|
|
|
Comcast Corp.
|
|
|
|
1,449,000
|
2.89%, 11/01/2051(5)
|
878,091
|
|
|
686,000
|
3.20%, 07/15/2036
|
580,227
|
|
|
583,000
|
3.75%, 04/01/2040
|
484,397
|
|
|
|
68
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Media - 0.8% - (continued)
|
||
|
$ 90,000
|
4.95%, 10/15/2058
|
$77,289
|
|
|
50,000
|
5.35%, 05/15/2053
|
46,404
|
|
|
75,000
|
6.05%, 05/15/2055(5)
|
75,770
|
|
|
15,000
|
6.50%, 11/15/2035
|
16,649
|
|
|
|
Cox Communications, Inc.
|
|
|
|
730,000
|
2.60%, 06/15/2031(1)
|
650,407
|
|
|
20,000
|
4.50%, 06/30/2043(1)
|
15,854
|
|
|
90,000
|
4.60%, 08/15/2047(1)
|
69,378
|
|
|
35,000
|
4.70%, 12/15/2042(1)
|
28,470
|
|
|
500,000
|
5.45%, 09/01/2034(1)
|
494,528
|
|
|
75,000
|
5.80%, 12/15/2053(1)
|
66,525
|
|
|
1,250,000
|
5.95%, 09/01/2054(1)
|
1,139,011
|
|
|
500,000
|
Directv Financing LLC/Directv Financing
Co-Obligor, Inc. 10.00%, 02/15/2031(1)
|
497,942
|
|
|
600
|
Discovery Communications LLC 3.95%,
03/20/2028
|
573
|
|
|
|
Paramount Global
|
|
|
|
45,000
|
4.20%, 05/19/2032
|
41,627
|
|
|
1,065,000
|
4.38%, 03/15/2043
|
806,555
|
|
|
10,000
|
4.60%, 01/15/2045
|
7,600
|
|
|
16,000
|
4.90%, 08/15/2044
|
12,647
|
|
|
530,000
|
4.95%, 01/15/2031
|
519,708
|
|
|
675,000
|
5.25%, 04/01/2044
|
553,396
|
|
|
1,053,000
|
5.85%, 09/01/2043
|
946,241
|
|
|
5,000
|
5.90%, 10/15/2040
|
4,615
|
|
|
55,000
|
7.88%, 07/30/2030
|
60,886
|
|
|
1,250,000
|
Scripps Escrow II, Inc. 3.88%,
01/15/2029(1)(5)
|
1,130,221
|
|
|
|
Time Warner Cable LLC
|
|
|
|
260,000
|
5.88%, 11/15/2040
|
243,176
|
|
|
50,000
|
6.55%, 05/01/2037
|
51,247
|
|
|
50,000
|
6.75%, 06/15/2039
|
51,356
|
|
|
25,000
|
7.30%, 07/01/2038
|
26,841
|
|
|
|
|
|
17,136,243
|
|
|
Mining - 0.4%
|
||
|
1,665,000
|
Anglo American Capital PLC 4.50%,
03/15/2028(1)
|
1,671,429
|
|
|
|
Glencore Funding LLC
|
|
|
|
150,000
|
2.50%, 09/01/2030(1)
|
137,201
|
|
|
25,000
|
2.63%, 09/23/2031(1)
|
22,457
|
|
|
10,000
|
3.38%, 09/23/2051(1)
|
6,917
|
|
|
50,000
|
3.88%, 04/27/2051(1)
|
37,841
|
|
|
25,000
|
4.88%, 03/12/2029(1)
|
25,399
|
|
|
1,080,000
|
5.37%, 04/04/2029(1)
|
1,113,568
|
|
|
175,000
|
5.40%, 05/08/2028(1)
|
179,663
|
|
|
490,000
|
5.63%, 04/04/2034(1)
|
510,981
|
|
|
55,000
|
5.70%, 05/08/2033(1)
|
58,173
|
|
|
811,000
|
6.38%, 10/06/2030(1)
|
874,695
|
|
|
955,000
|
6.50%, 10/06/2033(1)
|
1,054,845
|
|
|
|
Kaiser Aluminum Corp.
|
|
|
|
620,000
|
4.50%, 06/01/2031(1)
|
591,586
|
|
|
500,000
|
5.88%, 03/01/2034(1)
|
498,172
|
|
|
561,000
|
Rio Tinto Alcan, Inc. 6.13%, 12/15/2033
|
616,062
|
|
|
|
Rio Tinto Finance USA PLC
|
|
|
|
5,000
|
4.75%, 03/22/2042
|
4,703
|
|
|
625,000
|
5.00%, 03/14/2032
|
644,476
|
|
|
80,000
|
5.00%, 03/09/2033
|
82,423
|
|
|
25,000
|
5.75%, 03/14/2055
|
25,852
|
|
|
955,000
|
5.88%, 03/14/2065
|
999,493
|
|
|
|
|
|
9,155,936
|
|
|
Miscellaneous Manufacturing - 0.1%
|
||
|
2,000,000
|
Siemens Funding BV 4.60%, 05/28/2030(1)
|
2,035,805
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Oil & Gas - 1.5%
|
||
|
|
Aker BP ASA
|
|
|
|
$ 1,848,000
|
4.00%, 01/15/2031(1)
|
$1,782,965
|
|
|
310,000
|
5.25%, 10/30/2035(1)
|
304,840
|
|
|
2,010,000
|
5.80%, 10/01/2054(1)
|
1,861,132
|
|
|
150,000
|
6.00%, 06/13/2033(1)
|
157,196
|
|
|
1,105,000
|
Azule Energy Finance PLC 8.13%,
01/23/2030(1)
|
1,110,532
|
|
|
|
ConocoPhillips Co.
|
|
|
|
1,319,000
|
3.80%, 03/15/2052
|
995,889
|
|
|
404,000
|
4.03%, 03/15/2062
|
300,074
|
|
|
2,000
|
4.30%, 11/15/2044
|
1,725
|
|
|
555,000
|
5.30%, 05/15/2053
|
525,990
|
|
|
117,000
|
5.55%, 03/15/2054
|
115,239
|
|
|
475,000
|
5.65%, 01/15/2065
|
467,722
|
|
|
1,062,000
|
5.70%, 09/15/2063
|
1,050,288
|
|
|
|
Coterra Energy, Inc.
|
|
|
|
1,262,000
|
5.40%, 02/15/2035
|
1,271,115
|
|
|
1,413,000
|
5.60%, 03/15/2034
|
1,446,926
|
|
|
|
Diamondback Energy, Inc.
|
|
|
|
25,000
|
4.40%, 03/24/2051
|
20,352
|
|
|
50,000
|
5.40%, 04/18/2034
|
50,972
|
|
|
390,000
|
5.55%, 04/01/2035
|
400,138
|
|
|
225,000
|
5.75%, 04/18/2054
|
216,823
|
|
|
453,000
|
5.90%, 04/18/2064
|
434,034
|
|
|
303,000
|
6.25%, 03/15/2053
|
310,236
|
|
|
|
Ecopetrol SA
|
|
|
|
1,455,000
|
7.75%, 02/01/2032
|
1,503,473
|
|
|
1,295,000
|
8.38%, 01/19/2036
|
1,342,016
|
|
|
|
Energean Israel Finance Ltd.
|
|
|
|
2,475,000
|
5.88%, 03/30/2031(6)
|
2,389,085
|
|
|
600,000
|
8.50%, 09/30/2033(6)
|
640,284
|
|
|
1,360,000
|
Eni SpA 5.50%, 05/15/2034(1)
|
1,401,767
|
|
|
|
EOG Resources, Inc.
|
|
|
|
48,000
|
3.90%, 04/01/2035
|
44,587
|
|
|
785,000
|
5.00%, 07/15/2032
|
801,847
|
|
|
1,085,000
|
5.35%, 01/15/2036
|
1,117,002
|
|
|
445,000
|
5.65%, 12/01/2054
|
444,994
|
|
|
|
Hess Corp.
|
|
|
|
5,000
|
6.00%, 01/15/2040
|
5,443
|
|
|
1,706,000
|
7.13%, 03/15/2033
|
1,984,791
|
|
|
1,225,000
|
Leviathan Bond Ltd. 6.50%, 06/30/2027(6)
|
1,230,206
|
|
|
1,000,000
|
Matador Resources Co. 6.50%,
04/15/2032(1)
|
1,009,215
|
|
|
661,000
|
SM Energy Co. 6.75%, 08/01/2029(1)
|
659,619
|
|
|
|
TotalEnergies Capital SA
|
|
|
|
510,000
|
5.43%, 09/10/2064
|
488,675
|
|
|
1,505,000
|
5.64%, 04/05/2064
|
1,496,324
|
|
|
937,500
|
Transocean International Ltd. 8.75%,
02/15/2030(1)
|
983,746
|
|
|
|
|
|
30,367,262
|
|
|
Packaging & Containers - 0.1%
|
||
|
|
Clydesdale Acquisition Holdings, Inc.
|
|
|
|
500,000
|
6.63%, 04/15/2029(1)
|
501,997
|
|
|
500,000
|
8.75%, 04/15/2030(1)
|
501,023
|
|
|
500,000
|
Mauser Packaging Solutions Holding Co.
9.25%, 04/15/2027(1)
|
493,705
|
|
|
325,000
|
TriMas Corp. 4.13%, 04/15/2029(1)(5)
|
314,255
|
|
|
|
|
|
1,810,980
|
|
|
Pharmaceuticals - 0.7%
|
||
|
|
Cardinal Health, Inc.
|
|
|
|
3,100,000
|
4.50%, 09/15/2030
|
3,116,701
|
|
|
2,215,000
|
5.00%, 11/15/2029(5)
|
2,275,712
|
|
|
2,700,000
|
Cencora, Inc. 4.85%, 12/15/2029
|
2,759,353
|
|
|
|
69
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Pharmaceuticals - 0.7% - (continued)
|
||
|
|
CVS Health Corp.
|
|
|
|
$ 435,000
|
1.75%, 08/21/2030
|
$384,373
|
|
|
249,000
|
1.88%, 02/28/2031
|
217,340
|
|
|
660,000
|
2.13%, 09/15/2031
|
575,241
|
|
|
80,000
|
4.25%, 04/01/2050
|
63,169
|
|
|
55,000
|
4.78%, 03/25/2038
|
51,677
|
|
|
100,000
|
5.00%, 01/30/2029
|
102,078
|
|
|
2,000
|
5.13%, 07/20/2045
|
1,818
|
|
|
1,095,000
|
5.45%, 09/15/2035
|
1,118,100
|
|
|
75,000
|
5.70%, 06/01/2034
|
78,438
|
|
|
25,000
|
5.88%, 06/01/2053
|
24,553
|
|
|
1,035,000
|
6.75%, 12/10/2054, (6.75% fixed rate
until 09/10/2034; 5 yr. USD CMT +
2.52% thereafter)(2)
|
1,075,601
|
|
|
800,000
|
Teva Pharmaceutical Finance Netherlands
III BV 6.00%, 12/01/2032
|
834,890
|
|
|
1,410,000
|
Viatris, Inc. 3.85%, 06/22/2040
|
1,074,151
|
|
|
|
|
|
13,753,195
|
|
|
Pipelines - 1.7%
|
||
|
|
Buckeye Partners LP
|
|
|
|
250,000
|
5.85%, 11/15/2043
|
234,569
|
|
|
619,000
|
6.75%, 02/01/2030(1)
|
646,039
|
|
|
|
Cheniere Energy Partners LP
|
|
|
|
1,465,000
|
5.55%, 10/30/2035(1)
|
1,499,214
|
|
|
25,000
|
5.95%, 06/30/2033
|
26,383
|
|
|
|
Columbia Pipelines Holding Co. LLC
|
|
|
|
570,000
|
5.10%, 10/01/2031(1)
|
580,127
|
|
|
1,048,000
|
5.68%, 01/15/2034(1)
|
1,082,180
|
|
|
|
Columbia Pipelines Operating Co. LLC
|
|
|
|
20,000
|
5.70%, 10/01/2054(1)(5)
|
19,159
|
|
|
48,000
|
6.04%, 11/15/2033(1)
|
51,208
|
|
|
50,000
|
6.54%, 11/15/2053(1)
|
53,787
|
|
|
|
DT Midstream, Inc.
|
|
|
|
4,000
|
4.30%, 04/15/2032(1)
|
3,834
|
|
|
1,250,000
|
5.80%, 12/15/2034(1)
|
1,291,274
|
|
|
|
Enbridge, Inc.
|
|
|
|
28,000
|
4.50%, 06/10/2044
|
23,998
|
|
|
20,000
|
5.50%, 12/01/2046
|
19,855
|
|
|
823,000
|
7.20%, 06/27/2054, (7.20% fixed rate
until 03/27/2034; 5 yr. USD CMT +
2.97% thereafter)(2)
|
878,985
|
|
|
|
Energy Transfer LP
|
|
|
|
235,000
|
5.15%, 02/01/2043
|
212,690
|
|
|
50,000
|
5.35%, 05/15/2045
|
45,726
|
|
|
50,000
|
5.40%, 10/01/2047
|
45,223
|
|
|
25,000
|
5.95%, 05/15/2054
|
24,131
|
|
|
50,000
|
6.00%, 06/15/2048
|
48,799
|
|
|
50,000
|
6.40%, 12/01/2030
|
54,110
|
|
|
25,000
|
6.63%, 10/15/2036
|
27,248
|
|
|
126,000
|
7.38%, 02/01/2031(1)
|
131,259
|
|
|
|
Enterprise Products Operating LLC
|
|
|
|
335,000
|
3.30%, 02/15/2053
|
229,298
|
|
|
990,000
|
4.60%, 01/15/2031
|
1,002,232
|
|
|
25,000
|
4.90%, 05/15/2046
|
22,990
|
|
|
8,000
|
5.10%, 02/15/2045
|
7,610
|
|
|
155,000
|
5.20%, 01/15/2036
|
157,847
|
|
|
800,000
|
5.55%, 02/16/2055
|
790,428
|
|
|
20,000
|
5.95%, 02/01/2041
|
21,244
|
|
|
5,000
|
7.55%, 04/15/2038
|
6,042
|
|
|
1,390,540
|
Galaxy Pipeline Assets Bidco Ltd. 2.94%,
09/30/2040(1)
|
1,187,308
|
|
|
|
Hess Midstream Operations LP
|
|
|
|
3,119,000
|
4.25%, 02/15/2030(1)
|
3,037,852
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Pipelines - 1.7% - (continued)
|
||
|
$ 1,105,000
|
6.50%, 06/01/2029(1)
|
$1,145,004
|
|
|
|
MPLX LP
|
|
|
|
50,000
|
4.50%, 04/15/2038
|
45,335
|
|
|
41,000
|
4.70%, 04/15/2048
|
34,326
|
|
|
1,255,000
|
4.80%, 02/15/2031
|
1,265,605
|
|
|
2,025,000
|
5.00%, 01/15/2033
|
2,025,306
|
|
|
25,000
|
5.20%, 03/01/2047
|
22,470
|
|
|
730,000
|
5.40%, 09/15/2035
|
733,016
|
|
|
20,000
|
5.95%, 04/01/2055
|
19,447
|
|
|
1,000,000
|
Northriver Midstream Finance LP 6.75%,
07/15/2032(1)
|
1,019,064
|
|
|
|
ONEOK, Inc.
|
|
|
|
223,000
|
3.10%, 03/15/2030
|
211,151
|
|
|
20,000
|
4.25%, 09/15/2046
|
15,689
|
|
|
20,000
|
4.45%, 09/01/2049
|
16,019
|
|
|
1,830,000
|
4.75%, 10/15/2031
|
1,830,096
|
|
|
39,000
|
4.85%, 02/01/2049
|
33,322
|
|
|
1,852,000
|
5.05%, 11/01/2034
|
1,825,619
|
|
|
10,000
|
5.05%, 04/01/2045
|
8,854
|
|
|
100,000
|
5.15%, 10/15/2043
|
91,259
|
|
|
1,610,000
|
5.40%, 10/15/2035
|
1,615,933
|
|
|
80,000
|
5.70%, 11/01/2054
|
74,854
|
|
|
550,000
|
6.05%, 09/01/2033
|
582,768
|
|
|
10,000
|
6.10%, 11/15/2032
|
10,698
|
|
|
27,000
|
6.50%, 09/01/2030(1)
|
28,885
|
|
|
190,000
|
6.63%, 09/01/2053
|
199,939
|
|
|
115,000
|
7.15%, 01/15/2051
|
127,441
|
|
|
500,000
|
Rockies Express Pipeline LLC 6.75%,
03/15/2033(1)
|
523,321
|
|
|
|
Targa Resources Corp.
|
|
|
|
510,000
|
4.90%, 09/15/2030
|
517,122
|
|
|
20,000
|
4.95%, 04/15/2052(5)
|
17,103
|
|
|
1,805,000
|
5.55%, 08/15/2035
|
1,843,242
|
|
|
935,000
|
5.65%, 02/15/2036
|
958,811
|
|
|
2,000
|
6.13%, 03/15/2033
|
2,132
|
|
|
205,000
|
6.50%, 03/30/2034
|
223,775
|
|
|
|
Targa Resources Partners LP/Targa
Resources Partners Finance Corp.
|
|
|
|
1,150,000
|
4.00%, 01/15/2032
|
1,088,723
|
|
|
100,000
|
4.88%, 02/01/2031
|
100,231
|
|
|
1,000,000
|
Venture Global Plaquemines LNG LLC
7.50%, 05/01/2033(1)
|
1,099,699
|
|
|
|
Whistler Pipeline LLC
|
|
|
|
20,000
|
5.40%, 09/30/2029(1)
|
20,498
|
|
|
865,000
|
5.70%, 09/30/2031(1)
|
894,734
|
|
|
458,000
|
5.95%, 09/30/2034(1)
|
470,299
|
|
|
|
|
|
34,204,439
|
|
|
Real Estate Investment Trusts - 0.3%
|
||
|
|
Crown Castle, Inc.
|
|
|
|
285,000
|
2.10%, 04/01/2031
|
249,886
|
|
|
2,315,000
|
2.25%, 01/15/2031
|
2,062,606
|
|
|
1,490,000
|
3.10%, 11/15/2029
|
1,417,183
|
|
|
40,000
|
4.75%, 05/15/2047
|
35,157
|
|
|
25,000
|
5.20%, 09/01/2034
|
25,268
|
|
|
10,000
|
5.20%, 02/15/2049
|
9,210
|
|
|
|
Hudson Pacific Properties LP
|
|
|
|
599,000
|
4.65%, 04/01/2029(5)
|
551,479
|
|
|
500,000
|
5.95%, 02/15/2028(5)
|
488,794
|
|
|
|
Prologis Targeted U.S. Logistics Fund LP
|
|
|
|
610,000
|
4.25%, 01/15/2031(1)
|
605,602
|
|
|
1,770,000
|
4.75%, 01/15/2036(1)
|
1,732,754
|
|
|
|
|
|
7,177,939
|
|
|
70
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Retail - 0.2%
|
||
|
|
AutoZone, Inc.
|
|
|
|
$ 161,000
|
4.75%, 08/01/2032
|
$162,359
|
|
|
360,000
|
4.75%, 02/01/2033
|
360,518
|
|
|
105,000
|
5.20%, 08/01/2033
|
107,899
|
|
|
450,000
|
5.40%, 07/15/2034
|
465,106
|
|
|
107,000
|
6.55%, 11/01/2033
|
119,426
|
|
|
EUR
750,000
|
Bertrand Franchise Finance SAS 5.75%,
07/18/2030, 3 mo. EURIBOR +
3.75%(2)(6)
|
838,730
|
|
|
GBP
750,000
|
CD&R Firefly Bidco PLC 8.63%,
04/30/2029(6)
|
1,029,875
|
|
|
$ 606,000
|
FirstCash, Inc. 4.63%, 09/01/2028(1)
|
597,702
|
|
|
34,000
|
McDonald's Corp. 4.88%, 12/09/2045
|
31,444
|
|
|
750,000
|
Specialty Building Products
Holdings LLC/SBP Finance Corp. 7.75%,
10/15/2029(1)
|
754,635
|
|
|
265,000
|
Staples, Inc. 10.75%, 09/01/2029(1)
|
256,806
|
|
|
|
|
|
4,724,500
|
|
|
Semiconductors - 1.2%
|
||
|
|
Applied Materials, Inc.
|
|
|
|
1,645,000
|
4.60%, 01/15/2036
|
1,626,978
|
|
|
25,000
|
4.80%, 06/15/2029
|
25,635
|
|
|
5,000
|
5.10%, 10/01/2035(5)
|
5,189
|
|
|
|
Broadcom, Inc.
|
|
|
|
1,490,000
|
4.15%, 02/15/2028
|
1,494,342
|
|
|
1,445,000
|
4.20%, 10/15/2030
|
1,442,282
|
|
|
50,000
|
4.30%, 11/15/2032
|
49,468
|
|
|
315,000
|
5.05%, 07/12/2029
|
324,360
|
|
|
1,300,000
|
5.20%, 07/15/2035
|
1,339,112
|
|
|
|
Foundry JV Holdco LLC
|
|
|
|
985,000
|
5.90%, 01/25/2033(1)
|
1,036,817
|
|
|
4,655,000
|
6.15%, 01/25/2032(1)
|
4,962,876
|
|
|
|
Intel Corp.
|
|
|
|
395,000
|
2.80%, 08/12/2041
|
278,018
|
|
|
789,000
|
3.05%, 08/12/2051
|
500,030
|
|
|
1,160,000
|
3.25%, 11/15/2049
|
772,921
|
|
|
2,278,000
|
3.73%, 12/08/2047
|
1,674,534
|
|
|
640,000
|
4.10%, 05/11/2047
|
494,892
|
|
|
485,000
|
4.15%, 08/05/2032
|
468,458
|
|
|
65,000
|
4.60%, 03/25/2040
|
58,818
|
|
|
290,000
|
4.75%, 03/25/2050
|
245,441
|
|
|
15,000
|
4.90%, 07/29/2045
|
13,255
|
|
|
15,000
|
5.05%, 08/05/2062(5)
|
12,690
|
|
|
950,000
|
5.20%, 02/10/2033(5)
|
967,516
|
|
|
|
Marvell Technology, Inc.
|
|
|
|
773,000
|
2.45%, 04/15/2028
|
741,925
|
|
|
1,185,000
|
2.95%, 04/15/2031
|
1,096,371
|
|
|
1,525,000
|
Micron Technology, Inc. 5.65%, 11/01/2032
|
1,600,797
|
|
|
1,568,000
|
Qorvo, Inc. 3.38%, 04/01/2031(1)
|
1,445,863
|
|
|
1,420,000
|
QUALCOMM, Inc. 4.75%, 05/20/2032
|
1,449,631
|
|
|
|
|
|
24,128,219
|
|
|
Software - 0.5%
|
||
|
1,519,000
|
Fair Isaac Corp. 4.00%, 06/15/2028(1)
|
1,488,692
|
|
|
2,294,000
|
Open Text Corp. 3.88%, 12/01/2029(1)
|
2,170,967
|
|
|
|
Oracle Corp.
|
|
|
|
1,070,000
|
2.88%, 03/25/2031
|
975,348
|
|
|
476,000
|
3.60%, 04/01/2040
|
372,769
|
|
|
518,000
|
3.60%, 04/01/2050
|
351,311
|
|
|
50,000
|
3.85%, 07/15/2036
|
43,658
|
|
|
424,000
|
3.85%, 04/01/2060
|
280,263
|
|
|
620,000
|
3.95%, 03/25/2051
|
442,027
|
|
|
100,000
|
4.00%, 07/15/2046
|
74,947
|
|
|
8,000
|
4.13%, 05/15/2045
|
6,185
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 25.7% - (continued)
|
|||
|
|
Software - 0.5% - (continued)
|
||
|
$ 100,000
|
4.30%, 07/08/2034
|
$93,722
|
|
|
3,325,000
|
4.80%, 09/26/2032
|
3,290,767
|
|
|
28,000
|
5.38%, 07/15/2040
|
26,681
|
|
|
657,000
|
5.50%, 09/27/2064
|
572,855
|
|
|
25,000
|
5.55%, 02/06/2053
|
22,457
|
|
|
242,000
|
Rocket Software, Inc. 6.50%, 02/15/2029(1)
|
235,098
|
|
|
|
|
|
10,447,747
|
|
|
Telecommunications - 0.8%
|
||
|
500,000
|
Altice France SA 6.50%, 03/15/2032(1)
|
478,727
|
|
|
1,000,000
|
EchoStar Corp. 6.75%, 11/30/2030(8)
|
1,031,910
|
|
|
EUR
1,000,000
|
Iliad Holding SAS 6.88%, 04/15/2031(6)
|
1,236,279
|
|
|
$ 500,000
|
Level 3 Financing, Inc. 7.00%, 03/31/2034(1)
|
513,702
|
|
|
|
NTT Finance Corp.
|
|
|
|
1,550,000
|
4.88%, 07/16/2030(1)
|
1,579,327
|
|
|
200,000
|
5.14%, 07/02/2031(1)
|
205,857
|
|
|
5,635,000
|
5.17%, 07/16/2032(1)
|
5,790,198
|
|
|
|
T-Mobile USA, Inc.
|
|
|
|
2,010,000
|
2.55%, 02/15/2031
|
1,828,103
|
|
|
5,000
|
3.00%, 02/15/2041
|
3,743
|
|
|
38,000
|
3.30%, 02/15/2051
|
25,710
|
|
|
1,665,000
|
3.50%, 04/15/2031
|
1,583,190
|
|
|
532,000
|
3.88%, 04/15/2030
|
521,094
|
|
|
290,000
|
4.70%, 01/15/2035
|
284,404
|
|
|
495,000
|
5.13%, 05/15/2032
|
508,864
|
|
|
60,000
|
5.75%, 01/15/2034
|
63,440
|
|
|
260,000
|
5.80%, 09/15/2062
|
259,781
|
|
|
555,000
|
WULF Compute LLC 7.75%, 10/15/2030(1)
|
576,576
|
|
|
|
|
|
16,490,905
|
|
|
Transportation - 0.2%
|
||
|
3,375,000
|
CSX Corp. 5.05%, 06/15/2035
|
3,432,659
|
|
|
|
Union Pacific Corp.
|
|
|
|
3,000
|
2.97%, 09/16/2062
|
1,802
|
|
|
25,000
|
3.84%, 03/20/2060
|
18,504
|
|
|
|
|
|
3,452,965
|
|
|
Total Corporate Bonds
(cost $524,632,664)
|
$531,110,047
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 2.1%
|
|||
|
|
Bermuda - 0.1%
|
||
|
|
Bermuda Government International Bonds
|
|
|
|
455,000
|
2.38%, 08/20/2030(1)
|
$411,548
|
|
|
1,305,000
|
5.00%, 07/15/2032(1)
|
1,327,185
|
|
|
|
|
|
1,738,733
|
|
|
Bulgaria - 0.1%
|
||
|
|
Bulgaria Government International Bonds
|
|
|
|
EUR
845,000
|
1.38%, 09/23/2050(6)
|
572,011
|
|
|
1,195,000
|
4.88%, 05/13/2036(6)
|
1,534,625
|
|
|
|
|
|
2,106,636
|
|
|
Hungary - 0.1%
|
||
|
1,970,000
|
Hungary Government International Bonds
1.63%, 04/28/2032(6)
|
2,034,800
|
|
|
|
Indonesia - 0.2%
|
||
|
|
Indonesia Government International Bonds
|
|
|
|
2,600,000
|
1.10%, 03/12/2033
|
2,524,784
|
|
|
$ 2,460,000
|
4.90%, 04/16/2036
|
2,470,979
|
|
|
|
|
|
4,995,763
|
|
|
Israel - 0.2%
|
||
|
|
Israel Government International Bonds
|
|
|
|
1,195,000
|
2.75%, 07/03/2030
|
1,112,586
|
|
|
|
71
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 2.1% - (continued)
|
|||
|
|
Israel - 0.2% - (continued)
|
||
|
$ 1,705,000
|
5.38%, 02/19/2030
|
$1,766,708
|
|
|
475,000
|
State of Israel 3.80%, 05/13/2060(6)
|
325,803
|
|
|
|
|
|
3,205,097
|
|
|
Ivory Coast - 0.1%
|
||
|
EUR
1,290,000
|
Ivory Coast Government International
Bonds 4.88%, 01/30/2032(6)
|
1,439,765
|
|
|
|
Mexico - 0.6%
|
||
|
|
Mexico Government International Bonds
|
|
|
|
$ 850,000
|
3.50%, 02/12/2034
|
737,162
|
|
|
3,955,000
|
5.38%, 03/22/2033
|
3,951,836
|
|
|
575,000
|
6.35%, 02/09/2035
|
607,833
|
|
|
2,755,000
|
6.63%, 01/29/2038
|
2,909,280
|
|
|
2,370,000
|
6.88%, 05/13/2037
|
2,567,302
|
|
|
1,960,000
|
7.38%, 05/13/2055
|
2,198,812
|
|
|
|
|
|
12,972,225
|
|
|
North Macedonia - 0.1%
|
||
|
|
North Macedonia Government International
Bonds
|
|
|
|
EUR
985,000
|
3.68%, 06/03/2026(1)
|
1,137,910
|
|
|
835,000
|
3.68%, 06/03/2026(6)
|
964,625
|
|
|
|
|
|
2,102,535
|
|
|
Philippines - 0.1%
|
||
|
|
Philippines Government International Bonds
|
|
|
|
1,400,000
|
1.20%, 04/28/2033
|
1,377,333
|
|
|
900,000
|
1.75%, 04/28/2041
|
763,090
|
|
|
|
|
|
2,140,423
|
|
|
Romania - 0.5%
|
||
|
|
Romania Government International Bonds
|
|
|
|
1,265,000
|
2.63%, 12/02/2040(1)
|
965,233
|
|
|
890,000
|
2.63%, 12/02/2040(6)
|
679,096
|
|
|
5,520,000
|
2.75%, 04/14/2041(6)
|
4,229,769
|
|
|
1,205,000
|
2.88%, 04/13/2042(6)
|
921,435
|
|
|
$ 1,872,000
|
5.75%, 03/24/2035(1)
|
1,831,016
|
|
|
1,190,000
|
6.38%, 01/30/2034(1)
|
1,222,573
|
|
|
490,000
|
7.50%, 02/10/2037(1)
|
536,987
|
|
|
|
|
|
10,386,109
|
|
|
Total Foreign Government
Obligations
(cost $44,150,421)
|
|
$43,122,086
|
|
MUNICIPAL BONDS - 0.3%
|
|||
|
|
Development - 0.0%
|
||
|
1,070,000
|
New York Transportation Dev Corp., NY,
Rev 4.25%, 09/01/2035
|
$1,055,289
|
|
|
|
General - 0.2%
|
||
|
1,630,000
|
County of Riverside, CA, Rev 3.07%,
02/15/2028
|
1,594,306
|
|
|
1,530,000
|
Philadelphia Auth for Industrial Dev, PA,
Rev, (NPFG) 6.55%, 10/15/2028
|
1,627,791
|
|
|
|
|
|
3,222,097
|
|
|
School District - 0.1%
|
||
|
|
Chicago Board of Education, IL, GO
|
|
|
|
220,000
|
6.14%, 12/01/2039
|
208,252
|
|
|
885,000
|
6.32%, 11/01/2029
|
874,446
|
|
|
|
|
|
1,082,698
|
|
|
Total Municipal Bonds
(cost $5,549,228)
|
|
$5,360,084
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 44.5%
|
|||
|
|
Mortgage-Backed Agencies - 44.5%
|
||
|
|
Federal Home Loan Mortgage Corp. - 11.8%
|
||
|
$ 12,799,483
|
0.15%, 10/25/2034(2)(3)
|
$204,514
|
|
|
6,583,512
|
0.21%, 02/25/2035(2)(3)
|
130,668
|
|
|
8,767,903
|
0.28%, 05/25/2034(2)(3)
|
210,929
|
|
|
4,563,633
|
0.37%, 12/25/2033(2)(3)
|
125,893
|
|
|
3,082,398
|
0.48%, 01/25/2034(2)(3)
|
87,486
|
|
|
1,358,876
|
0.61%, 10/25/2026(2)(3)
|
5,798
|
|
|
6,527,360
|
0.71%, 12/25/2030(2)(3)
|
200,138
|
|
|
3,090,056
|
0.73%, 06/25/2027(2)(3)
|
27,558
|
|
|
1,447,483
|
0.87%, 11/25/2030(2)(3)
|
52,306
|
|
|
528,985
|
1.00%, 10/25/2040
|
454,150
|
|
|
855,471
|
1.00%, 02/25/2051
|
750,246
|
|
|
2,537,459
|
1.02%, 10/25/2030(2)(3)
|
102,031
|
|
|
3,304,691
|
1.11%, 01/25/2030(2)(3)
|
129,303
|
|
|
4,224,333
|
1.11%, 06/25/2030(2)(3)
|
183,459
|
|
|
3,270,942
|
1.43%, 05/25/2030(2)(3)
|
176,394
|
|
|
4,183,789
|
1.50%, 05/15/2037(3)
|
216,260
|
|
|
2,400,085
|
1.50%, 09/25/2047
|
2,032,463
|
|
|
2,042,079
|
1.56%, 05/25/2030(2)(3)
|
121,518
|
|
|
5,588,790
|
1.57%, 05/25/2055, 30 day USD SOFR
Average + 5.75%(2)(3)
|
397,575
|
|
|
194,993
|
1.75%, 10/15/2042
|
171,328
|
|
|
286,694
|
2.00%, 06/01/2036
|
265,645
|
|
|
150,002
|
2.00%, 12/01/2040
|
129,382
|
|
|
911,502
|
2.00%, 05/01/2041
|
794,522
|
|
|
2,938,783
|
2.00%, 06/01/2041
|
2,572,833
|
|
|
1,016,298
|
2.00%, 12/01/2041
|
884,680
|
|
|
4,512,600
|
2.00%, 02/15/2042(3)
|
427,629
|
|
|
627,002
|
2.00%, 10/01/2050
|
513,495
|
|
|
742,691
|
2.00%, 02/01/2051
|
610,664
|
|
|
3,862,102
|
2.00%, 03/01/2051
|
3,162,012
|
|
|
1,309,752
|
2.00%, 04/01/2051
|
1,070,450
|
|
|
699,699
|
2.00%, 05/01/2051
|
577,457
|
|
|
695,175
|
2.00%, 07/01/2051
|
567,945
|
|
|
301,924
|
2.00%, 08/01/2051
|
247,009
|
|
|
306,945
|
2.00%, 11/01/2051
|
252,301
|
|
|
1,094,420
|
2.00%, 01/01/2052
|
900,711
|
|
|
1,200,529
|
2.00%, 04/01/2052
|
988,824
|
|
|
1,982,711
|
2.00%, 06/15/2052(3)
|
261,400
|
|
|
2,207,640
|
2.50%, 04/25/2036(3)
|
194,118
|
|
|
440,056
|
2.50%, 05/01/2050
|
381,262
|
|
|
521,990
|
2.50%, 06/01/2050
|
448,207
|
|
|
1,442,249
|
2.50%, 06/25/2050(3)
|
229,564
|
|
|
3,133,401
|
2.50%, 07/01/2050
|
2,698,913
|
|
|
848,830
|
2.50%, 08/01/2050
|
731,558
|
|
|
1,282,769
|
2.50%, 09/01/2050
|
1,103,018
|
|
|
986,264
|
2.50%, 10/01/2050
|
858,232
|
|
|
927,760
|
2.50%, 11/01/2050
|
795,741
|
|
|
282,383
|
2.50%, 02/01/2051
|
245,552
|
|
|
722,114
|
2.50%, 03/01/2051
|
615,179
|
|
|
324,968
|
2.50%, 05/01/2051
|
278,650
|
|
|
208,313
|
2.50%, 07/01/2051
|
178,153
|
|
|
287,407
|
2.50%, 08/01/2051
|
246,559
|
|
|
491,184
|
2.50%, 10/01/2051
|
420,640
|
|
|
2,307,519
|
2.50%, 11/01/2051
|
2,003,723
|
|
|
1,350,058
|
2.50%, 03/15/2052(3)
|
216,199
|
|
|
827,969
|
2.50%, 03/25/2052
|
747,414
|
|
|
1,979,740
|
2.50%, 04/01/2052
|
1,688,163
|
|
|
2,768,153
|
2.50%, 08/25/2052(3)
|
430,691
|
|
|
793,298
|
3.00%, 10/01/2032
|
773,169
|
|
|
2,705
|
3.00%, 05/15/2041
|
2,599
|
|
|
78,470
|
3.00%, 07/01/2047
|
71,600
|
|
|
290,875
|
3.00%, 12/15/2047
|
244,713
|
|
|
103,940
|
3.00%, 01/01/2048
|
94,545
|
|
|
|
72
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 44.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 44.5% - (continued)
|
||
|
|
Federal Home Loan Mortgage Corp. - 11.8% - (continued)
|
||
|
$ 2,569,895
|
3.00%, 12/25/2049(3)
|
$435,860
|
|
|
534,118
|
3.00%, 07/01/2050
|
480,788
|
|
|
669,984
|
3.00%, 08/01/2050
|
599,371
|
|
|
302,134
|
3.00%, 08/01/2051
|
267,924
|
|
|
2,318,709
|
3.00%, 08/25/2051(3)
|
381,495
|
|
|
1,796,351
|
3.00%, 09/25/2051(3)
|
662,710
|
|
|
943,448
|
3.00%, 10/01/2051
|
849,070
|
|
|
359,588
|
3.00%, 01/01/2052
|
324,052
|
|
|
1,851,945
|
3.00%, 05/01/2052
|
1,646,938
|
|
|
109,948
|
3.00%, 07/01/2052
|
97,482
|
|
|
2,719,152
|
3.00%, 08/01/2052
|
2,412,017
|
|
|
813,213
|
3.50%, 01/15/2033(3)
|
64,335
|
|
|
255,165
|
3.50%, 05/15/2034(3)
|
17,753
|
|
|
536,797
|
3.50%, 10/15/2042
|
502,948
|
|
|
260,651
|
3.50%, 10/15/2045
|
247,621
|
|
|
569,260
|
3.50%, 12/01/2046
|
537,043
|
|
|
512,735
|
3.50%, 12/15/2046
|
480,870
|
|
|
340,134
|
3.50%, 01/01/2047
|
323,953
|
|
|
222,676
|
3.50%, 03/15/2047
|
208,273
|
|
|
101,699
|
3.50%, 06/01/2047
|
95,927
|
|
|
129,403
|
3.50%, 12/01/2047
|
121,514
|
|
|
139,208
|
3.50%, 01/01/2048
|
130,789
|
|
|
192,297
|
3.50%, 12/01/2048
|
180,103
|
|
|
745,887
|
3.50%, 04/01/2050
|
696,746
|
|
|
259,648
|
4.00%, 05/01/2038
|
256,034
|
|
|
322,174
|
4.00%, 05/25/2040(3)
|
48,207
|
|
|
580,717
|
4.00%, 09/15/2041
|
565,034
|
|
|
7,395
|
4.00%, 01/01/2042
|
7,238
|
|
|
140,119
|
4.00%, 03/01/2042
|
137,309
|
|
|
3,588
|
4.00%, 04/01/2042
|
3,513
|
|
|
5,972
|
4.00%, 06/01/2042
|
5,850
|
|
|
1,466,537
|
4.00%, 03/25/2045(3)
|
241,047
|
|
|
84,249
|
4.00%, 04/01/2047
|
82,201
|
|
|
164,818
|
4.00%, 11/01/2047
|
160,065
|
|
|
326,069
|
4.00%, 12/01/2047
|
321,785
|
|
|
1,123,474
|
4.00%, 04/01/2049
|
1,083,772
|
|
|
297,291
|
4.00%, 05/01/2049
|
288,163
|
|
|
921,434
|
4.00%, 07/01/2049
|
894,527
|
|
|
1,267,144
|
4.00%, 09/25/2050(3)
|
254,920
|
|
|
900,087
|
4.50%, 07/01/2052
|
886,183
|
|
|
66,131
|
5.00%, 09/01/2035
|
67,803
|
|
|
255,910
|
5.00%, 09/15/2036(3)
|
36,294
|
|
|
1,093,032
|
5.00%, 07/01/2040
|
1,104,145
|
|
|
792,374
|
5.00%, 03/15/2045(3)
|
160,010
|
|
|
146,746
|
5.00%, 02/15/2048(3)
|
28,568
|
|
|
35,397
|
5.00%, 09/01/2048
|
35,937
|
|
|
23,347
|
5.00%, 02/01/2049
|
23,680
|
|
|
627,517
|
5.00%, 10/01/2052
|
627,021
|
|
|
1,162,444
|
5.00%, 10/25/2052
|
1,161,410
|
|
|
79,613
|
5.00%, 11/01/2052
|
79,845
|
|
|
24,441
|
5.00%, 01/01/2053
|
24,434
|
|
|
2,289,434
|
5.00%, 04/01/2053
|
2,289,671
|
|
|
3,913,792
|
5.00%, 11/01/2054
|
3,895,429
|
|
|
5,090
|
5.50%, 02/01/2029
|
5,147
|
|
|
2,115,973
|
5.50%, 12/01/2037
|
2,163,376
|
|
|
9,653
|
5.50%, 12/01/2038
|
9,796
|
|
|
319,434
|
5.50%, 05/15/2040(3)
|
57,017
|
|
|
287,715
|
5.50%, 06/15/2046(3)
|
49,100
|
|
|
274,801
|
5.50%, 10/15/2046(3)
|
51,950
|
|
|
260,607
|
5.50%, 02/01/2049
|
268,477
|
|
|
30,848
|
5.50%, 03/01/2049
|
31,665
|
|
|
1,013,832
|
5.50%, 02/01/2053
|
1,030,112
|
|
|
1,977,039
|
5.50%, 04/01/2053
|
2,004,713
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 44.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 44.5% - (continued)
|
||
|
|
Federal Home Loan Mortgage Corp. - 11.8% - (continued)
|
||
|
$ 17,988,426
|
5.50%, 04/01/2054
|
$18,189,600
|
|
|
22,787,377
|
5.50%, 08/01/2054
|
23,041,707
|
|
|
33,673,468
|
5.50%, 09/01/2054
|
34,043,043
|
|
|
22,603,682
|
5.50%, 04/01/2055
|
22,839,835
|
|
|
22,894,894
|
5.50%, 09/01/2055
|
23,134,102
|
|
|
949,266
|
6.00%, 11/01/2052
|
975,137
|
|
|
629,361
|
6.00%, 12/01/2052
|
650,791
|
|
|
286,150
|
6.00%, 03/01/2053
|
297,139
|
|
|
5,840,403
|
6.00%, 09/01/2053
|
5,982,600
|
|
|
665,883
|
6.00%, 11/01/2053
|
682,360
|
|
|
1,693,492
|
6.00%, 12/01/2053
|
1,735,792
|
|
|
342,019
|
6.00%, 01/01/2054
|
350,519
|
|
|
1,667,468
|
6.00%, 02/01/2054
|
1,706,640
|
|
|
715,836
|
6.00%, 03/01/2054
|
738,837
|
|
|
752,891
|
6.00%, 04/01/2054
|
780,994
|
|
|
2,360,922
|
6.00%, 05/01/2054
|
2,417,650
|
|
|
5,437,181
|
6.00%, 06/01/2054
|
5,578,290
|
|
|
3,559,303
|
6.00%, 08/01/2054
|
3,650,034
|
|
|
352,321
|
6.03%, 11/25/2043, 30 day USD SOFR
Average + 1.85%(1)(2)
|
355,735
|
|
|
653,000
|
6.28%, 09/25/2041, 30 day USD SOFR
Average + 2.10%(1)(2)
|
657,695
|
|
|
892,000
|
7.08%, 04/25/2042, 30 day USD SOFR
Average + 2.90%(1)(2)
|
926,263
|
|
|
1,545,000
|
7.53%, 09/25/2041, 30 day USD SOFR
Average + 3.35%(1)(2)
|
1,570,585
|
|
|
1,310,000
|
7.53%, 05/25/2042, 30 day USD SOFR
Average + 3.35%(1)(2)
|
1,357,820
|
|
|
2,545,000
|
7.53%, 06/25/2043, 30 day USD SOFR
Average + 3.35%(1)(2)
|
2,636,897
|
|
|
5,285,000
|
7.58%, 10/25/2041, 30 day USD SOFR
Average + 3.40%(1)(2)
|
5,397,208
|
|
|
2,460,000
|
7.68%, 05/25/2043, 30 day USD SOFR
Average + 3.50%(1)(2)
|
2,586,082
|
|
|
380,000
|
7.73%, 08/25/2042, 30 day USD SOFR
Average + 3.55%(1)(2)
|
397,339
|
|
|
2,925,000
|
7.83%, 11/25/2041, 30 day USD SOFR
Average + 3.65%(1)(2)
|
2,999,617
|
|
|
3,460,000
|
7.88%, 09/25/2042, 30 day USD SOFR
Average + 3.70%(1)(2)
|
3,627,093
|
|
|
1,305,000
|
7.93%, 02/25/2042, 30 day USD SOFR
Average + 3.75%(1)(2)
|
1,349,523
|
|
|
970,000
|
8.18%, 07/25/2042, 30 day USD SOFR
Average + 4.00%(1)(2)
|
1,019,070
|
|
|
1,593,000
|
8.68%, 06/25/2042, 30 day USD SOFR
Average + 4.50%(1)(2)
|
1,681,619
|
|
|
2,280,000
|
9.43%, 03/25/2042, 30 day USD SOFR
Average + 5.25%(1)(2)
|
2,401,136
|
|
|
|
|
|
243,670,920
|
|
|
Federal National Mortgage Association - 9.8%
|
||
|
111,175
|
0.00%, 06/25/2041(9)(10)
|
85,028
|
|
|
2,100,261
|
0.30%, 01/25/2030(2)(3)
|
17,791
|
|
|
5,795,416
|
1.13%, 06/25/2034(2)(3)
|
335,839
|
|
|
3,390,275
|
1.45%, 05/25/2029(2)(3)
|
115,990
|
|
|
2,649,919
|
1.50%, 11/25/2035(3)
|
123,969
|
|
|
196,021
|
1.50%, 07/01/2051
|
151,534
|
|
|
3,385,947
|
1.50%, 09/01/2051
|
2,615,960
|
|
|
3,817,257
|
1.66%, 03/25/2055, 30 day USD SOFR
Average + 5.84%(2)(3)
|
210,557
|
|
|
5,812,749
|
1.77%, 10/25/2054, 30 day USD SOFR
Average + 5.95%(2)(3)
|
308,373
|
|
|
52,203
|
2.00%, 03/01/2036
|
48,263
|
|
|
|
73
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 44.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 44.5% - (continued)
|
||
|
|
Federal National Mortgage Association - 9.8% - (continued)
|
||
|
$ 418,053
|
2.00%, 05/01/2036
|
$384,776
|
|
|
947,142
|
2.00%, 08/01/2036
|
873,146
|
|
|
526,053
|
2.00%, 09/01/2036
|
489,028
|
|
|
332,048
|
2.00%, 12/01/2036
|
308,674
|
|
|
520,446
|
2.00%, 09/01/2040
|
457,194
|
|
|
1,959,859
|
2.00%, 12/01/2040
|
1,704,759
|
|
|
531,117
|
2.00%, 04/01/2041
|
465,314
|
|
|
182,612
|
2.00%, 05/01/2041
|
159,988
|
|
|
1,553
|
2.00%, 09/25/2041
|
1,476
|
|
|
739,310
|
2.00%, 10/01/2041
|
644,485
|
|
|
2,965
|
2.00%, 12/25/2041
|
2,796
|
|
|
483,367
|
2.00%, 02/01/2042
|
419,298
|
|
|
199,587
|
2.00%, 03/25/2044
|
190,749
|
|
|
214,148
|
2.00%, 05/25/2044
|
200,586
|
|
|
1,367,559
|
2.00%, 03/25/2050
|
1,186,727
|
|
|
531,984
|
2.00%, 08/25/2050
|
384,747
|
|
|
1,855,620
|
2.00%, 10/01/2050
|
1,523,479
|
|
|
5,174,657
|
2.00%, 10/25/2050(3)
|
631,448
|
|
|
1,531,936
|
2.00%, 12/01/2050
|
1,258,170
|
|
|
3,388,067
|
2.00%, 02/01/2051
|
2,773,843
|
|
|
5,299,941
|
2.00%, 03/01/2051
|
4,331,095
|
|
|
6,970,269
|
2.00%, 04/01/2051
|
5,690,242
|
|
|
1,031,084
|
2.00%, 05/01/2051
|
840,984
|
|
|
558,645
|
2.00%, 06/01/2051
|
456,463
|
|
|
2,442,369
|
2.00%, 07/01/2051
|
1,999,400
|
|
|
1,305,966
|
2.00%, 08/01/2051
|
1,080,228
|
|
|
1,267,978
|
2.00%, 09/01/2051
|
1,038,631
|
|
|
1,918,338
|
2.00%, 03/25/2052(3)
|
242,061
|
|
|
7,957,340
|
2.00%, 04/01/2052
|
6,521,578
|
|
|
412,619
|
2.25%, 04/01/2033
|
362,293
|
|
|
1,014,347
|
2.50%, 06/25/2045
|
870,891
|
|
|
5,738
|
2.50%, 03/25/2046
|
5,386
|
|
|
551,276
|
2.50%, 04/01/2050
|
471,813
|
|
|
524,622
|
2.50%, 06/01/2050
|
450,825
|
|
|
3,961,492
|
2.50%, 07/01/2050
|
3,431,895
|
|
|
843,462
|
2.50%, 09/01/2050
|
720,543
|
|
|
1,348,857
|
2.50%, 10/01/2050
|
1,170,762
|
|
|
1,462,721
|
2.50%, 12/01/2050
|
1,254,579
|
|
|
338,008
|
2.50%, 01/01/2051
|
292,739
|
|
|
2,228,789
|
2.50%, 02/01/2051
|
1,902,472
|
|
|
1,464,995
|
2.50%, 02/25/2051(3)
|
252,065
|
|
|
2,135,131
|
2.50%, 04/25/2051(3)
|
331,617
|
|
|
7,249,559
|
2.50%, 05/01/2051
|
6,214,905
|
|
|
1,298,997
|
2.50%, 06/01/2051
|
1,109,165
|
|
|
692,174
|
2.50%, 07/01/2051
|
593,521
|
|
|
307,768
|
2.50%, 08/01/2051
|
267,181
|
|
|
447,969
|
2.50%, 09/01/2051
|
384,967
|
|
|
6,744,965
|
2.50%, 10/01/2051
|
5,805,196
|
|
|
6,484,804
|
2.50%, 11/01/2051
|
5,599,854
|
|
|
2,010,635
|
2.50%, 12/01/2051
|
1,731,168
|
|
|
783,502
|
2.50%, 01/01/2052
|
675,236
|
|
|
8,551,088
|
2.50%, 03/01/2052
|
7,265,606
|
|
|
453,487
|
2.50%, 04/01/2052
|
390,675
|
|
|
1,910,769
|
2.50%, 06/25/2052(3)
|
293,954
|
|
|
2,253,180
|
2.50%, 09/25/2052(3)
|
352,120
|
|
|
1,086,166
|
2.50%, 01/01/2057
|
928,296
|
|
|
313,005
|
3.00%, 04/25/2033(3)
|
18,722
|
|
|
121,485
|
3.00%, 08/01/2033
|
118,426
|
|
|
881,606
|
3.00%, 06/01/2038
|
848,369
|
|
|
380,579
|
3.00%, 11/25/2042
|
347,382
|
|
|
2,162
|
3.00%, 02/25/2043
|
2,124
|
|
|
920,541
|
3.00%, 06/01/2043
|
852,637
|
|
|
1,020,479
|
3.00%, 11/01/2044
|
945,202
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 44.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 44.5% - (continued)
|
||
|
|
Federal National Mortgage Association - 9.8% - (continued)
|
||
|
$ 1,061,121
|
3.00%, 01/25/2045
|
$978,592
|
|
|
53,593
|
3.00%, 01/25/2046
|
50,464
|
|
|
728,267
|
3.00%, 02/25/2047
|
683,712
|
|
|
5,464,585
|
3.00%, 08/01/2048
|
4,983,324
|
|
|
265,383
|
3.00%, 08/25/2049
|
243,356
|
|
|
339,226
|
3.00%, 02/01/2050
|
306,933
|
|
|
1,385,554
|
3.00%, 07/01/2050
|
1,255,020
|
|
|
1,295,352
|
3.00%, 08/01/2050
|
1,156,639
|
|
|
521,026
|
3.00%, 10/01/2050
|
463,532
|
|
|
2,171,547
|
3.00%, 12/01/2050
|
1,949,888
|
|
|
660,242
|
3.00%, 05/01/2051
|
599,393
|
|
|
1,165,593
|
3.00%, 07/01/2051
|
1,040,091
|
|
|
310,170
|
3.00%, 08/01/2051
|
279,372
|
|
|
1,686,268
|
3.00%, 10/01/2051
|
1,510,504
|
|
|
1,801,072
|
3.00%, 11/01/2051
|
1,605,700
|
|
|
977,152
|
3.00%, 12/01/2051
|
874,373
|
|
|
468,539
|
3.00%, 01/01/2052
|
418,782
|
|
|
1,488,645
|
3.00%, 01/25/2052(3)
|
236,992
|
|
|
564,099
|
3.00%, 04/01/2052
|
505,389
|
|
|
705,140
|
3.00%, 05/01/2052
|
631,876
|
|
|
22,634
|
3.00%, 06/01/2052
|
20,081
|
|
|
531,934
|
3.00%, 09/01/2052
|
472,232
|
|
|
807,488
|
3.50%, 07/25/2033(3)
|
54,259
|
|
|
363,134
|
3.50%, 08/25/2033(3)
|
29,433
|
|
|
124,105
|
3.50%, 04/25/2034(3)
|
2,433
|
|
|
774,601
|
3.50%, 05/01/2037
|
749,887
|
|
|
398,670
|
3.50%, 11/25/2039(3)
|
34,067
|
|
|
384,065
|
3.50%, 10/01/2041
|
369,142
|
|
|
2,642
|
3.50%, 05/25/2042
|
2,557
|
|
|
1,208,779
|
3.50%, 08/01/2043
|
1,147,830
|
|
|
33,990
|
3.50%, 07/25/2044
|
33,757
|
|
|
172,375
|
3.50%, 12/01/2045
|
163,256
|
|
|
169,547
|
3.50%, 01/01/2046
|
160,602
|
|
|
124,395
|
3.50%, 03/01/2046
|
117,882
|
|
|
624,933
|
3.50%, 12/01/2046
|
595,003
|
|
|
214,180
|
3.50%, 05/01/2047
|
202,523
|
|
|
1,679,932
|
3.50%, 09/01/2047
|
1,579,810
|
|
|
1,610,353
|
3.50%, 12/01/2047
|
1,512,181
|
|
|
183,927
|
3.50%, 01/01/2048
|
172,258
|
|
|
2,067,091
|
3.50%, 02/01/2048
|
1,953,630
|
|
|
70,729
|
3.50%, 06/01/2048
|
66,052
|
|
|
332,598
|
3.50%, 07/01/2048
|
314,289
|
|
|
71,823
|
3.50%, 11/01/2048
|
67,446
|
|
|
1,030,611
|
3.50%, 03/25/2049
|
964,055
|
|
|
432,462
|
3.50%, 04/25/2049
|
419,582
|
|
|
528,828
|
3.50%, 06/01/2049
|
501,876
|
|
|
340,166
|
3.50%, 09/01/2050
|
319,663
|
|
|
736,304
|
3.50%, 11/01/2051
|
683,818
|
|
|
1,088,038
|
3.50%, 04/01/2052
|
1,014,095
|
|
|
612,836
|
3.50%, 05/01/2056
|
552,751
|
|
|
493,689
|
3.50%, 11/25/2057
|
477,528
|
|
|
903,311
|
3.50%, 05/01/2058
|
826,364
|
|
|
847,904
|
3.50%, 12/25/2058
|
774,510
|
|
|
1,584,500
|
3.92%, 10/01/2030
|
1,565,112
|
|
|
464,879
|
4.00%, 08/01/2038
|
461,535
|
|
|
1,913
|
4.00%, 11/01/2040
|
1,874
|
|
|
19,708
|
4.00%, 02/01/2041
|
19,354
|
|
|
285,903
|
4.00%, 06/01/2041
|
283,380
|
|
|
3,677
|
4.00%, 09/01/2041
|
3,601
|
|
|
5,335
|
4.00%, 10/01/2041
|
5,253
|
|
|
138,457
|
4.00%, 01/01/2042
|
135,524
|
|
|
182,736
|
4.00%, 02/01/2042
|
178,864
|
|
|
47,550
|
4.00%, 05/01/2042
|
46,542
|
|
|
|
74
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 44.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 44.5% - (continued)
|
||
|
|
Federal National Mortgage Association - 9.8% - (continued)
|
||
|
$ 1,885
|
4.00%, 09/01/2042
|
$1,845
|
|
|
706,165
|
4.00%, 01/01/2043
|
691,417
|
|
|
14,687
|
4.00%, 10/01/2043
|
14,376
|
|
|
1,196,127
|
4.00%, 12/01/2043
|
1,167,802
|
|
|
177,731
|
4.00%, 03/01/2046
|
172,861
|
|
|
230,882
|
4.00%, 09/01/2047
|
223,376
|
|
|
412,586
|
4.00%, 10/01/2047
|
399,239
|
|
|
212,778
|
4.00%, 11/01/2047
|
205,840
|
|
|
1,290,075
|
4.00%, 06/01/2048
|
1,245,173
|
|
|
1,670,729
|
4.00%, 10/01/2048
|
1,616,527
|
|
|
646,727
|
4.00%, 01/01/2049
|
627,074
|
|
|
1,402,359
|
4.00%, 04/01/2049
|
1,345,249
|
|
|
78,862
|
4.00%, 08/01/2049
|
76,702
|
|
|
507,043
|
4.00%, 09/01/2049
|
489,230
|
|
|
2,934,646
|
4.00%, 02/25/2050(3)
|
617,547
|
|
|
994,698
|
4.00%, 04/01/2050
|
963,367
|
|
|
1,514,173
|
4.00%, 06/25/2050(3)
|
305,348
|
|
|
1,264,529
|
4.00%, 09/25/2050(3)
|
240,798
|
|
|
1,623,729
|
4.00%, 11/25/2050(3)
|
330,813
|
|
|
647,407
|
4.00%, 08/01/2051
|
627,770
|
|
|
1,849,915
|
4.00%, 04/01/2052
|
1,760,495
|
|
|
702,183
|
4.00%, 06/01/2052
|
672,369
|
|
|
2,500,000
|
4.12%, 11/01/2030
|
2,505,273
|
|
|
1,996,519
|
4.39%, 04/01/2029
|
2,019,760
|
|
|
2,287,000
|
4.42%, 11/01/2030
|
2,307,011
|
|
|
1,819,767
|
4.48%, 02/01/2029
|
1,843,279
|
|
|
473,792
|
4.50%, 12/01/2037
|
475,594
|
|
|
349,398
|
4.50%, 04/01/2048
|
346,608
|
|
|
151,535
|
4.50%, 04/01/2049
|
150,044
|
|
|
2,111,616
|
4.50%, 05/25/2049(3)
|
387,401
|
|
|
673,006
|
4.50%, 01/01/2051
|
656,962
|
|
|
1,076,994
|
4.50%, 08/01/2052
|
1,060,356
|
|
|
1,197,156
|
4.50%, 03/01/2053
|
1,170,161
|
|
|
4,629,282
|
4.50%, 10/01/2053
|
4,520,104
|
|
|
1,262,000
|
4.52%, 10/01/2030
|
1,280,603
|
|
|
215,000
|
4.75%, 04/01/2028
|
218,024
|
|
|
1,900,000
|
4.91%, 01/01/2029
|
1,949,272
|
|
|
219,524
|
5.00%, 06/25/2048(3)
|
31,510
|
|
|
1,689,191
|
5.00%, 12/25/2051
|
1,689,185
|
|
|
868,134
|
5.00%, 07/01/2052
|
869,270
|
|
|
6,343,819
|
5.00%, 09/01/2052
|
6,342,239
|
|
|
206,811
|
5.00%, 10/01/2052
|
206,357
|
|
|
105,717
|
5.00%, 11/01/2052
|
105,641
|
|
|
128,292
|
5.00%, 12/01/2052
|
128,032
|
|
|
1,465,000
|
5.07%, 12/01/2028
|
1,507,844
|
|
|
2,130,779
|
5.50%, 11/25/2035
|
2,190,232
|
|
|
678,507
|
5.50%, 04/01/2038
|
693,645
|
|
|
3,548,805
|
5.50%, 08/01/2040
|
3,628,422
|
|
|
229,665
|
5.50%, 04/25/2044(3)
|
33,159
|
|
|
1,558,166
|
5.50%, 06/25/2051
|
1,575,346
|
|
|
1,841,990
|
5.50%, 12/25/2051
|
1,858,749
|
|
|
1,556,596
|
5.50%, 02/25/2052
|
1,575,103
|
|
|
1,788,300
|
5.50%, 03/25/2052
|
1,809,674
|
|
|
1,635,546
|
5.50%, 04/25/2052
|
1,652,477
|
|
|
634,966
|
5.50%, 10/01/2052
|
645,531
|
|
|
1,182,503
|
5.50%, 11/01/2052
|
1,201,854
|
|
|
2,230,287
|
5.50%, 12/01/2052
|
2,266,215
|
|
|
1,202,156
|
5.50%, 06/01/2053
|
1,221,229
|
|
|
1,414,911
|
5.50%, 07/01/2053
|
1,435,022
|
|
|
147,420
|
5.50%, 03/01/2054
|
149,126
|
|
|
525,123
|
6.00%, 04/01/2044
|
540,452
|
|
|
1,655,767
|
6.00%, 08/25/2044
|
1,678,156
|
|
|
285,560
|
6.00%, 01/01/2053
|
293,351
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 44.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 44.5% - (continued)
|
||
|
|
Federal National Mortgage Association - 9.8% - (continued)
|
||
|
$ 675,796
|
6.00%, 05/01/2053
|
$701,329
|
|
|
348,826
|
6.00%, 11/01/2053
|
357,319
|
|
|
349,973
|
6.00%, 01/01/2054
|
358,269
|
|
|
1,009,769
|
6.00%, 02/01/2054
|
1,033,984
|
|
|
668,936
|
6.00%, 03/01/2054
|
688,545
|
|
|
1,394,361
|
6.00%, 05/01/2054
|
1,426,224
|
|
|
1,181,877
|
6.00%, 06/01/2054
|
1,208,906
|
|
|
1,207,282
|
6.00%, 09/01/2054
|
1,237,055
|
|
|
|
|
|
202,392,200
|
|
|
Government National Mortgage Association - 9.2%
|
||
|
100,200
|
2.00%, 06/16/2042
|
93,390
|
|
|
1,124,319
|
2.00%, 10/20/2050
|
935,497
|
|
|
3,271,520
|
2.00%, 12/20/2050
|
2,722,089
|
|
|
219,683
|
2.00%, 12/20/2051
|
182,789
|
|
|
5,303,452
|
2.00%, 02/20/2052
|
4,412,770
|
|
|
606,170
|
2.00%, 03/20/2052
|
504,367
|
|
|
585,418
|
2.00%, 10/20/2052
|
487,680
|
|
|
9,900,000
|
2.00%, 11/20/2055(11)
|
8,232,134
|
|
|
22,174
|
2.50%, 05/20/2040
|
21,868
|
|
|
1,525,062
|
2.50%, 10/20/2049
|
1,370,063
|
|
|
1,160,847
|
2.50%, 11/20/2049
|
1,011,948
|
|
|
925,317
|
2.50%, 03/20/2051
|
801,483
|
|
|
6,940,476
|
2.50%, 04/20/2051
|
6,010,125
|
|
|
814,245
|
2.50%, 09/20/2051
|
705,086
|
|
|
2,729,110
|
2.50%, 10/20/2051
|
2,363,240
|
|
|
54,342,000
|
2.50%, 11/20/2055(11)
|
47,029,140
|
|
|
1,193,459
|
3.00%, 01/16/2044
|
1,101,927
|
|
|
573,183
|
3.00%, 02/20/2047
|
517,192
|
|
|
443,684
|
3.00%, 05/20/2049
|
413,786
|
|
|
169,442
|
3.00%, 03/20/2050
|
152,828
|
|
|
2,356,069
|
3.00%, 07/20/2050(3)
|
308,901
|
|
|
380,445
|
3.00%, 11/20/2050
|
342,823
|
|
|
3,463,949
|
3.00%, 04/20/2051
|
3,118,094
|
|
|
5,134,019
|
3.00%, 06/20/2051
|
4,618,926
|
|
|
1,993,788
|
3.00%, 08/20/2051
|
1,793,520
|
|
|
1,269,012
|
3.00%, 09/20/2051
|
1,141,520
|
|
|
392,589
|
3.00%, 10/20/2051
|
353,080
|
|
|
2,717,010
|
3.00%, 12/20/2051
|
2,442,978
|
|
|
664,592
|
3.00%, 02/20/2052
|
617,374
|
|
|
625,418
|
3.00%, 04/20/2052
|
562,222
|
|
|
168,398
|
3.50%, 11/20/2042
|
154,849
|
|
|
652,204
|
3.50%, 03/20/2044
|
615,964
|
|
|
414,373
|
3.50%, 06/20/2046
|
387,077
|
|
|
90,236
|
3.50%, 07/20/2046
|
83,725
|
|
|
95,923
|
3.50%, 10/20/2046
|
89,525
|
|
|
417,415
|
3.50%, 02/20/2047
|
389,309
|
|
|
111,911
|
3.50%, 05/20/2047
|
104,306
|
|
|
114,431
|
3.50%, 07/20/2047
|
106,631
|
|
|
83,744
|
3.50%, 11/20/2047
|
78,295
|
|
|
102,096
|
3.50%, 03/20/2048
|
95,137
|
|
|
486,836
|
3.50%, 02/20/2049
|
452,307
|
|
|
1,116,525
|
3.50%, 06/20/2049
|
1,032,014
|
|
|
2,722,808
|
3.50%, 11/20/2049
|
2,515,719
|
|
|
292,733
|
3.50%, 12/20/2049
|
269,382
|
|
|
176,681
|
3.50%, 01/20/2050
|
163,239
|
|
|
675,785
|
3.50%, 06/20/2050
|
622,940
|
|
|
2,716,474
|
3.50%, 02/20/2051
|
2,510,060
|
|
|
1,030,686
|
3.50%, 11/20/2052
|
931,037
|
|
|
1,537,556
|
3.50%, 01/20/2053
|
1,417,596
|
|
|
245,738
|
3.88%, 08/15/2042
|
236,905
|
|
|
843,747
|
4.00%, 09/16/2042(3)
|
176,676
|
|
|
246,593
|
4.00%, 09/20/2042(3)
|
30,852
|
|
|
|
75
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 44.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 44.5% - (continued)
|
||
|
|
Government National Mortgage Association - 9.2% - (continued)
|
||
|
$ 178,747
|
4.00%, 12/20/2044(3)
|
$33,487
|
|
|
389,508
|
4.00%, 08/20/2045
|
375,264
|
|
|
530,738
|
4.00%, 09/20/2047
|
510,668
|
|
|
2,244,918
|
4.00%, 11/20/2047
|
2,160,024
|
|
|
336,570
|
4.00%, 12/20/2047
|
323,842
|
|
|
862,019
|
4.00%, 02/20/2048
|
829,412
|
|
|
14,556
|
4.00%, 04/20/2048
|
13,970
|
|
|
763,527
|
4.00%, 07/20/2048
|
734,013
|
|
|
2,582,494
|
4.00%, 08/20/2052
|
2,466,746
|
|
|
753,079
|
4.50%, 02/20/2040
|
759,819
|
|
|
678,569
|
4.50%, 05/20/2041
|
684,401
|
|
|
556,683
|
4.50%, 06/16/2043(3)
|
101,909
|
|
|
280,832
|
4.50%, 05/20/2045(3)
|
62,637
|
|
|
2,751,745
|
4.50%, 08/20/2045(3)
|
517,053
|
|
|
436,615
|
4.50%, 12/16/2046(3)
|
60,411
|
|
|
301,178
|
4.50%, 05/20/2048(3)
|
45,281
|
|
|
193,799
|
4.50%, 06/20/2048(3)
|
35,916
|
|
|
142,069
|
4.50%, 05/20/2052
|
139,766
|
|
|
592,093
|
4.50%, 08/20/2052
|
582,310
|
|
|
541,424
|
4.50%, 09/20/2052
|
532,311
|
|
|
2,463,394
|
4.50%, 10/20/2052
|
2,421,548
|
|
|
2,175,229
|
4.50%, 11/20/2052
|
2,138,278
|
|
|
5,126,274
|
4.50%, 11/20/2054
|
5,005,852
|
|
|
5,027,632
|
4.50%, 12/20/2054
|
4,909,527
|
|
|
536,685
|
5.00%, 05/20/2040
|
551,362
|
|
|
427,308
|
5.00%, 06/20/2040
|
440,295
|
|
|
167,774
|
5.00%, 07/20/2040
|
172,461
|
|
|
236,012
|
5.00%, 12/20/2043(3)
|
48,532
|
|
|
1,058,159
|
5.00%, 07/16/2044(3)
|
170,361
|
|
|
193,732
|
5.00%, 11/16/2046(3)
|
29,972
|
|
|
197,710
|
5.00%, 06/16/2047(3)
|
34,308
|
|
|
2,160,519
|
5.00%, 10/20/2047(3)
|
437,546
|
|
|
261,375
|
5.00%, 11/16/2047(3)
|
49,510
|
|
|
709,928
|
5.00%, 11/20/2049
|
719,337
|
|
|
7,927,500
|
5.00%, 11/20/2054(11)
|
7,902,474
|
|
|
182,331
|
5.50%, 02/20/2044(3)
|
7,241
|
|
|
145,723
|
5.50%, 09/15/2045
|
153,957
|
|
|
209,338
|
5.50%, 09/20/2045(3)
|
38,313
|
|
|
27,310,000
|
5.50%, 11/20/2054(11)
|
27,535,216
|
|
|
13,374,000
|
6.00%, 11/20/2054(11)
|
13,610,742
|
|
|
1,097,636
|
6.00%, 07/20/2055
|
1,117,612
|
|
|
4,675,446
|
6.00%, 09/20/2055
|
4,766,258
|
|
|
|
|
|
190,062,327
|
|
|
Uniform Mortgage-Backed Security - 13.7%
|
||
|
8,787,000
|
2.00%, 11/01/2055(11)
|
7,124,038
|
|
|
4,050,000
|
2.50%, 11/01/2055(11)
|
3,437,909
|
|
|
2,300,000
|
3.00%, 11/01/2055(11)
|
2,037,656
|
|
|
9,952,000
|
3.50%, 11/01/2055(11)
|
9,174,362
|
|
|
9,540,000
|
4.00%, 11/01/2055(11)
|
9,050,669
|
|
|
16,800,000
|
4.50%, 11/01/2039(11)
|
16,769,133
|
|
|
22,641,000
|
4.50%, 11/01/2055(11)
|
22,066,405
|
|
|
13,635,000
|
5.00%, 11/01/2039(11)
|
13,767,518
|
|
|
16,890,000
|
5.00%, 11/01/2055(11)
|
16,803,641
|
|
|
18,885,000
|
5.50%, 11/01/2039(11)
|
19,288,949
|
|
|
46,415,000
|
5.50%, 11/01/2054(11)
|
46,892,919
|
|
|
46,415,000
|
5.50%, 12/01/2054(11)
|
46,860,284
|
|
|
32,491,000
|
6.00%, 11/01/2054(11)
|
33,223,899
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 44.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 44.5% - (continued)
|
||
|
|
Uniform Mortgage-Backed Security - 13.7% - (continued)
|
||
|
$ 29,485,000
|
6.00%, 12/01/2054(11)
|
$30,144,334
|
|
|
4,330,000
|
6.50%, 11/01/2054(11)
|
4,483,649
|
|
|
|
|
|
281,125,365
|
|
|
Total U.S. Government Agencies
(cost $924,125,317)
|
|
$917,250,812
|
|
U.S. GOVERNMENT SECURITIES - 27.9%
|
|||
|
|
U.S. Treasury Securities - 27.9%
|
||
|
|
U.S. Treasury Bonds - 10.2%
|
||
|
40,165,000
|
1.25%, 05/15/2050
|
$19,956,984
|
|
|
19,520,000
|
1.63%, 11/15/2050
|
10,612,475
|
|
|
8,585,000
|
2.75%, 11/15/2042
|
6,703,678
|
|
|
56,000
|
2.88%, 05/15/2052
|
40,383
|
|
|
3,325,000
|
3.00%, 11/15/2045
|
2,601,423
|
|
|
1,395,000
|
3.00%, 02/15/2048
|
1,064,723
|
|
|
23,885,000
|
3.00%, 08/15/2052(12)
|
17,653,441
|
|
|
3,365,000
|
3.13%, 02/15/2043
|
2,769,158
|
|
|
13,195,000
|
3.13%, 05/15/2048
|
10,281,276
|
|
|
28,525,000
|
3.38%, 08/15/2042
|
24,508,101
|
|
|
6,010,000
|
3.38%, 05/15/2044
|
5,064,129
|
|
|
55,565,000
|
3.38%, 11/15/2048
|
45,074,936
|
|
|
8,720,000
|
3.63%, 08/15/2043
|
7,668,150
|
|
|
8,845,000
|
3.63%, 02/15/2044
|
7,744,212
|
|
|
30,905,000
|
3.63%, 05/15/2053
|
25,775,494
|
|
|
1,455,000
|
4.13%, 08/15/2053
|
1,327,688
|
|
|
5,405,000
|
4.25%, 08/15/2054
|
5,039,740
|
|
|
8,975,000
|
4.88%, 08/15/2045
|
9,244,250
|
|
|
6,700,000
|
5.00%, 05/15/2045
|
7,011,969
|
|
|
|
|
|
210,142,210
|
|
|
U.S. Treasury Inflation-Indexed Bonds - 2.5%
|
||
|
15,460,445
|
0.25%, 02/15/2050(13)
|
9,273,183
|
|
|
753,820
|
0.63%, 02/15/2043(13)
|
577,284
|
|
|
23,461,519
|
0.75%, 02/15/2042(13)
|
18,726,360
|
|
|
10,510,195
|
0.75%, 02/15/2045(13)
|
7,921,252
|
|
|
3,718,730
|
1.00%, 02/15/2046(13)
|
2,898,465
|
|
|
13,990,048
|
1.38%, 02/15/2044(13)
|
12,066,845
|
|
|
|
|
|
51,463,389
|
|
|
U.S. Treasury Inflation-Indexed Notes - 1.2%
|
||
|
25,139,830
|
1.75%, 01/15/2034(13)
|
25,233,944
|
|
|
|
U.S. Treasury Notes - 14.0%
|
||
|
16,965,000
|
1.38%, 11/15/2031(14)
|
14,750,272
|
|
|
10,740,000
|
2.75%, 08/15/2032
|
10,020,923
|
|
|
4,200,000
|
3.63%, 08/31/2030
|
4,185,234
|
|
|
44,360,000
|
3.75%, 05/15/2028
|
44,522,885
|
|
|
27,210,000
|
3.75%, 06/30/2030
|
27,265,270
|
|
|
10,375,000
|
3.88%, 05/31/2027
|
10,411,475
|
|
|
7,975,000
|
3.88%, 06/15/2028
|
8,031,386
|
|
|
51,420,000
|
4.00%, 01/31/2029
|
52,004,501
|
|
|
6,350,000
|
4.13%, 02/28/2027
|
6,386,215
|
|
|
13,455,000
|
4.13%, 03/31/2031
|
13,696,244
|
|
|
39,630,000
|
4.13%, 11/30/2031
|
40,280,180
|
|
|
3,090,000
|
4.25%, 05/15/2035
|
3,131,522
|
|
|
10,805,000
|
4.38%, 11/30/2030
|
11,126,617
|
|
|
|
76
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT SECURITIES - 27.9% - (continued)
|
|||
|
|
U.S. Treasury Securities - 27.9% - (continued)
|
||
|
|
U.S. Treasury Notes - 14.0% - (continued)
|
||
|
$ 21,675,000
|
4.38%, 01/31/2032
|
$22,320,170
|
|
|
20,435,000
|
4.50%, 04/15/2027
|
20,676,069
|
|
|
|
|
|
288,808,963
|
|
|
Total U.S. Government Securities
(cost $608,679,471)
|
|
$575,648,506
|
|
|
Total Long-Term Investments
(cost $2,479,099,315)
|
|
$2,441,133,734
|
|
SHORT-TERM INVESTMENTS - 0.7%
|
|||
|
|
Repurchase Agreements - 0.1%
|
||
|
2,511,498
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 10/31/2025 at
4.15%, due on 11/03/2025 with a
maturity value of $2,512,367;
collateralized by U.S. Treasury Note at
4.63%, maturing 02/15/2035, with a
market value of $2,561,886
|
$2,511,498
|
|
|
|
Securities Lending Collateral - 0.6%
|
||
|
11,559,483
|
State Street Navigator Securities Lending
Government Money Market Portfolio,
4.00%(15)
|
11,559,483
|
|
|
|
Total Short-Term Investments
(cost $14,070,981)
|
$14,070,981
|
|
|
|
Total Investments Excluding
Purchased Options
(cost $2,493,170,296)
|
119.0
%
|
$2,455,204,715
|
|
|
Total Purchased Options
(cost $493,914)
|
0.0
%
|
$431,034
|
|
|
Total Investments
(cost $2,493,664,210)
|
119.0
%
|
$2,455,635,749
|
|
|
Other Assets and Liabilities
|
(19.0
)%
|
(392,721,103
)
|
|
|
Net Assets
|
100.0
%
|
$2,062,914,646
|
|
(1)
|
Security was purchased pursuant to Rule 144A under the Securities Act of 1933
and may be sold in transactions that are exempt from registration (typically only
to
qualified institutional buyers) or in a public offering registered under the Securities
Act of 1933. At October 31, 2025, the aggregate value of these securities was
$518,694,435, representing 25.1% of net assets.
|
|
(2)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. 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 the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(3)
|
Securities disclosed are interest-only strips.
|
|
(4)
|
Security is a “step-up” bond where coupon increases or steps up at a
predetermined date. Rate shown is current coupon rate.
|
|
(5)
|
Represents entire or partial securities on loan.
|
|
(6)
|
Security is exempt from registration under Regulation S under the Securities Act of
1933, which exempts from registration securities offered and sold outside of the
United States. Security may not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933. At October 31, 2025, the aggregate
value of these securities was $28,346,283, representing 1.4% of net assets.
|
|
(7)
|
Perpetual maturity security. Maturity date shown is the next call date or final legal
maturity date, whichever comes first.
|
|
(8)
|
Security has the ability to pay in kind (“PIK”) or pay income in cash. When
applicable, separate rates of such payments are disclosed.
|
|
(9)
|
Security disclosed is principal-only strips.
|
|
(10)
|
Security is a zero-coupon bond.
|
|
(11)
|
Represents or includes a TBA transaction.
|
|
(12)
|
All, or a portion of the security, was pledged as collateral in connection with
futures contracts. As of October 31, 2025, the market value of securities pledged
was $6,973,423.
|
|
(13)
|
The principal amount for these securities are adjusted for inflation and the interest
payments equal a fixed percentage of the inflation-adjusted principal amount.
|
|
(14)
|
All, or a portion of the security, was pledged as collateral in connection with
centrally cleared swap contracts. As of October 31, 2025, the market value of
securities pledged was $6,086,172.
|
|
(15)
|
Current yield as of period end.
|
|
|
77
|
|
|
OTC Swaptions Outstanding at October 31, 2025
|
||||||||||
|
Description
|
Counter-
party
|
Exercise Price/
FX Rate/Rate
|
Pay/
Receive
Floating
Rate
|
Expiration
Date
|
Notional
Amount
|
|
Value†
|
Premiums
Paid
(Received)
by Fund
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
Purchased swaptions:
|
||||||||||
|
Call
|
||||||||||
|
10 Year Interest Rate Swap Option*
|
BNP
|
4.13
%
|
Pay
|
07/31/2028
|
USD
|
4,675,000
|
|
$244,395
|
$246,957
|
$(2,562
)
|
|
Put
|
||||||||||
|
10 Year Interest Rate Swap Option*
|
BNP
|
4.13
%
|
Pay
|
07/31/2028
|
USD
|
4,675,000
|
|
$186,639
|
$246,957
|
$(60,318
)
|
|
Total purchased OTC swaption contracts
|
$431,034
|
$493,914
|
$(62,880
)
|
|||||||
|
*
|
Swaptions with forward premiums.
|
|
Futures Contracts Outstanding at October 31, 2025
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Long position contracts:
|
||||
|
Australian 10-Year Bond Future
|
537
|
12/15/2025
|
$39,940,134
|
$18,159
|
|
Canadian 10-Year Bond Future
|
168
|
12/18/2025
|
14,719,109
|
361,294
|
|
U.S. Treasury 2-Year Note Future
|
202
|
12/31/2025
|
42,064,922
|
(111,975
)
|
|
U.S. Treasury 5-Year Note Future
|
585
|
12/31/2025
|
63,888,399
|
(356,776
)
|
|
U.S. Treasury 10-Year Ultra Future
|
288
|
12/19/2025
|
33,259,500
|
14,917
|
|
U.S. Treasury Long Bond Future
|
470
|
12/19/2025
|
55,136,875
|
310,007
|
|
U.S. Treasury Ultra Bond Future
|
91
|
12/19/2025
|
11,036,594
|
392,295
|
|
Total
|
|
|
|
$627,921
|
|
Short position contracts:
|
||||
|
Euro BUXL 30-Year Bond Future
|
(25)
|
12/08/2025
|
$(3,350,643
)
|
$(87,163
)
|
|
Euro-BUND Future
|
(340)
|
12/08/2025
|
(50,776,257
)
|
(265,878
)
|
|
U.S. Treasury 10-Year Note Future
|
(137)
|
12/19/2025
|
(15,436,047
)
|
99,837
|
|
Total
|
|
|
|
$(253,204
)
|
|
Total futures contracts
|
$374,717
|
|||
|
TBA Sale Commitments Outstanding at October 31, 2025
|
||||
|
Description
|
Principal
Amount
|
Maturity
Date
|
Market
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
Government National Mortgage Association, 4.00%
|
$670,000
|
11/20/2055
|
$(633,574
)
|
$341
|
|
Government National Mortgage Association, 4.50%
|
2,080,000
|
11/20/2055
|
(2,029,729
)
|
383
|
|
Uniform Mortgage-Backed Security, 2.50%
|
4,050,000
|
11/01/2055
|
(3,437,909
)
|
29,271
|
|
Uniform Mortgage-Backed Security, 2.50%
|
4,874,000
|
12/01/2055
|
(4,137,756
)
|
46,461
|
|
Uniform Mortgage-Backed Security, 4.00%
|
17,401,000
|
11/01/2055
|
(16,508,459
)
|
(81,422
)
|
|
Uniform Mortgage-Backed Security, 4.50%
|
22,641,000
|
11/01/2055
|
(22,066,405
)
|
(7,098
)
|
|
Uniform Mortgage-Backed Security, 4.50%
|
30,077,000
|
12/01/2055
|
(29,300,766
)
|
120,585
|
|
Uniform Mortgage-Backed Security, 5.00%
|
3,950,000
|
11/01/2055
|
(3,929,804
)
|
(17,915
)
|
|
Uniform Mortgage-Backed Security, 5.00%
|
12,195,000
|
12/01/2055
|
(12,124,548
)
|
54,731
|
|
Uniform Mortgage-Backed Security, 6.50%
|
8,670,000
|
11/01/2054
|
(8,977,653
)
|
(9,053
)
|
|
Total TBA sale commitments (proceeds receivable $103,282,887)
|
$(103,146,603
)
|
$136,284
|
||
|
At October 31, 2025, the aggregate market value of TBA Sale Commitments represents
(5.0)% of total net assets.
|
||||
|
|
78
|
|
|
Centrally Cleared Interest Rate Swap Contracts Outstanding at October 31, 2025
|
|||||||||
|
Payments made
by Fund
|
Payments received
by Fund
|
Notional
Amount
|
Expiration
Date
|
Periodic
Payment
Frequency
|
Upfront
Premiums
Paid
|
Upfront
Premiums
Received
|
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
3.70% Fixed
|
12 Mo. USD SOFR
|
USD
|
11,075,000
|
05/31/2029
|
Annual
|
$—
|
$—
|
$(97,418
)
|
$(97,418
)
|
|
4.16% Fixed
|
12 Mo. USD SOFR
|
USD
|
35,970,000
|
03/19/2045
|
Annual
|
—
|
(67,436
)
|
(850,191
)
|
(782,755
)
|
|
2.97% Fixed
|
12 Mo. USD SOFR
|
USD
|
5,185,000
|
03/15/2053
|
Annual
|
2,866
|
—
|
918,812
|
915,946
|
|
2.88% Fixed
|
12 Mo. USD SOFR
|
USD
|
4,030,000
|
03/15/2053
|
Annual
|
42,863
|
—
|
780,657
|
737,794
|
|
3.25% Fixed
|
12 Mo. USD SOFR
|
USD
|
3,735,000
|
06/21/2053
|
Annual
|
—
|
(34,358
)
|
470,122
|
504,480
|
|
3.59% Fixed
|
12 Mo. USD SOFR
|
USD
|
8,150,000
|
09/20/2053
|
Annual
|
35,503
|
—
|
531,978
|
496,475
|
|
3.75% Fixed
|
12 Mo. USD SOFR
|
USD
|
3,325,000
|
12/18/2054
|
Annual
|
4,773
|
—
|
138,702
|
133,929
|
|
Total centrally cleared interest rate swaps contracts
|
$86,005
|
$(101,794
)
|
$1,892,662
|
$1,908,451
|
|||||
|
Foreign Currency Contracts Outstanding at October 31, 2025
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
2,428,600
|
USD
|
2,087,000
|
EUR
|
DEUT
|
11/28/2025
|
$15,970
|
|
1,315,547
|
USD
|
1,129,000
|
EUR
|
MSC
|
11/28/2025
|
10,391
|
|
871,151
|
USD
|
746,000
|
EUR
|
SSG
|
11/28/2025
|
8,753
|
|
1,495,904
|
USD
|
1,287,000
|
EUR
|
CBK
|
11/28/2025
|
8,095
|
|
465,671
|
USD
|
399,000
|
EUR
|
BOA
|
11/28/2025
|
4,417
|
|
21,728,279
|
USD
|
18,447,000
|
EUR
|
DEUT
|
12/17/2025
|
378,529
|
|
414,349
|
USD
|
357,000
|
EUR
|
JPM
|
12/17/2025
|
1,173
|
|
3,242,091
|
USD
|
2,435,000
|
GBP
|
JPM
|
11/28/2025
|
42,638
|
|
Total foreign currency contracts
|
$469,966
|
|||||
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Asset-Backed & Commercial Mortgage-Backed Securities
|
$368,046,204
|
$—
|
$368,046,204
|
$—
|
|
Convertible Bonds
|
595,995
|
—
|
595,995
|
—
|
|
Corporate Bonds
|
531,110,047
|
—
|
531,110,047
|
—
|
|
Foreign Government Obligations
|
43,122,086
|
—
|
43,122,086
|
—
|
|
Municipal Bonds
|
5,360,084
|
—
|
5,360,084
|
—
|
|
U.S. Government Agencies
|
917,250,812
|
—
|
917,250,812
|
—
|
|
U.S. Government Securities
|
575,648,506
|
—
|
575,648,506
|
—
|
|
Short-Term Investments
|
14,070,981
|
11,559,483
|
2,511,498
|
—
|
|
Purchased Options
|
431,034
|
—
|
431,034
|
—
|
|
Foreign Currency Contracts(2)
|
469,966
|
—
|
469,966
|
—
|
|
Futures Contracts(2)
|
1,196,509
|
1,196,509
|
—
|
—
|
|
Swaps - Interest Rate(2)
|
2,788,624
|
—
|
2,788,624
|
—
|
|
Total
|
$2,460,090,848
|
$12,755,992
|
$2,447,334,856
|
$—
|
|
Liabilities
|
|
|
|
|
|
Futures Contracts(2)
|
$(821,792
)
|
$(821,792
)
|
$—
|
$—
|
|
Swaps - Interest Rate(2)
|
(880,173
)
|
—
|
(880,173
)
|
—
|
|
TBA Sale Commitments
|
(103,146,603
)
|
—
|
(103,146,603
)
|
—
|
|
Total
|
$(104,848,568
)
|
$(821,792
)
|
$(104,026,776
)
|
$—
|
|
(1)
|
For the period ended October 31, 2025, there were no transfers in and out of Level
3.
|
|
(2)
|
Derivative instruments (excluding purchased and written options, if applicable) are
valued at the unrealized appreciation/(depreciation) on the investments.
|
|
|
79
|
|
|
Counterparty Abbreviations:
|
|
|
ANZ
|
Australia and New Zealand Banking Group
|
|
BCLY
|
Barclays
|
|
BMO
|
Bank of Montreal
|
|
BNP
|
BNP Paribas Securities Services
|
|
BOA
|
Bank of America Securities LLC
|
|
CAG
|
Credit Agricole CIB
|
|
CBK
|
Citibank NA
|
|
CIBC
|
Canadian Imperial Bank of Commerce
|
|
DEUT
|
Deutsche Bank Securities, Inc.
|
|
GSC
|
Goldman Sachs & Co.
|
|
HSBC
|
Hongkong and Shanghai Banking Corporation
|
|
JPM
|
JP Morgan Chase & Co.
|
|
MSC
|
Morgan Stanley
|
|
RBC
|
RBC Dominion Securities, Inc.
|
|
SCB
|
Standard Chartered Bank
|
|
SSG
|
State Street Global Markets LLC
|
|
UBS
|
UBS AG
|
|
WFB
|
Wells Fargo Bank NA
|
|
Currency Abbreviations:
|
|
|
AUD
|
Australia Dollar
|
|
BRL
|
Brazil Real
|
|
CAD
|
Canadian Dollar
|
|
CHF
|
Switzerland Franc
|
|
CLP
|
Chile Peso
|
|
CNH
|
China Yuan Renminbi
|
|
CNY
|
China Yuan Renminbi
|
|
COP
|
Colombia Peso
|
|
CZK
|
Czech Republic Koruna
|
|
DOP
|
Dominican Republic Peso
|
|
EUR
|
Euro Member Countries
|
|
GBP
|
British Pound
|
|
HUF
|
Hungary Forint
|
|
IDR
|
Indonesia Rupiah
|
|
INR
|
Indian Rupee
|
|
JPY
|
Japan Yen
|
|
MXN
|
Mexican Peso
|
|
MYR
|
Malaysia Ringgit
|
|
NOK
|
Norway Krone
|
|
PEN
|
Peru Nuevo Sol
|
|
PHP
|
Philippines Peso
|
|
PLN
|
Poland Zloty
|
|
RON
|
Romania New Leu
|
|
SEK
|
Sweden Krona
|
|
THB
|
Thailand Baht
|
|
TRY
|
Turkish Currency
|
|
USD
|
United States Dollar
|
|
UYU
|
Uruguay Peso
|
|
ZAR
|
South Africa Rand
|
|
Index Abbreviations:
|
|
|
CDX.EM
|
Credit Derivatives Emerging Markets
|
|
CDX.NA.HY
|
Credit Derivatives North American High Yield
|
|
CMT
|
Constant Maturity Treasury Index
|
|
CPI
|
Consumer Price Index
|
|
ICE
|
Intercontinental Exchange, Inc.
|
|
ITRAXX-XOVER
|
iTraxx Europe Crossover
|
|
Municipal Abbreviations:
|
|
|
Auth
|
Authority
|
|
COP
|
Certificate of Participation
|
|
Dev
|
Development
|
|
Dist
|
District
|
|
Facs
|
Facilities
|
|
GO
|
General Obligation
|
|
Rev
|
Revenue
|
|
Other Abbreviations:
|
|
|
ADR
|
American Depositary Receipt
|
|
AG
|
Assured Guaranty Inc.
|
|
AMBAC
|
American Municipal Bond Assurance Corp.
|
|
ASA
|
Allmennaksjeselskap
|
|
BAM
|
Build America Mutual Assurance Co.
|
|
CLO
|
Collateralized Loan Obligation
|
|
CMO
|
Collateralized Mortgage Obligation
|
|
EURIBOR
|
Euro Interbank Offered Rate
|
|
FHLMC
|
Federal Home Loan Mortgage Corp.
|
|
FNMA
|
Federal National Mortgage Association
|
|
GmbH
|
Gesellschaft mit beschränkter Haftung
|
|
GNMA
|
Government National Mortgage Association
|
|
HUD
|
Housing and Urban Development
|
|
NPFG
|
National Public Finance Guarantee Corp.
|
|
PSF-GTD
|
Permanent School Fund
|
|
Q-SBLF
|
Qualified School Bond Loan Fund
|
|
REIT
|
Real Estate Investment Trust
|
|
SCH BD GTY
|
School Bond Guaranty
|
|
SIFMA
|
Securities Industry and Financial Markets Association
|
|
SOFR
|
Secured Overnight Financing Rate
|
|
ST AID
WITHHLDG
|
State Aid Withholding
|
|
ST APPROP
|
State Appropriation
|
|
ST INTERCEPT
|
State Intercept
|
|
TBA
|
To Be Announced
|
|
|
80
|
|