| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 23.7% | |||
| Asset-Backed - Automobile - 2.9% | |||
| American Credit Acceptance Receivables Trust | |||
| $ 30,000 | 4.55%, 10/13/2026(1) | $ 29,885 | |
| 185,000 | 6.09%, 11/12/2027(1) | 184,159 | |
| 440,000 | ARI Fleet Lease Trust 5.41%, 02/17/2032(1) | 435,885 | |
| 220,000 | Avis Budget Rental Car Funding AESOP LLC 5.90%, 08/21/2028(1) | 217,071 | |
| 327,776 | Chesapeake Funding II LLC 5.65%, 05/15/2035(1) | 325,305 | |
| 440,444 | CPS Auto Receivables Trust 5.91%, 08/16/2027(1) | 439,189 | |
| DT Auto Owner Trust | |||
| 140,000 | 5.19%, 10/16/2028(1) | 137,243 | |
| 155,000 | 5.41%, 02/15/2029(1) | 152,320 | |
| 215,000 | Enterprise Fleet Financing LLC 5.42%, 10/22/2029(1) | 211,758 | |
| Exeter Automobile Receivables Trust | |||
| 116,839 | 2.18%, 06/15/2026 | 116,195 | |
| 155,000 | 4.57%, 01/15/2027 | 153,552 | |
| 210,000 | 5.72%, 04/15/2027 | 208,475 | |
| 87,000 | 6.03%, 08/16/2027 | 86,380 | |
| 90,000 | 6.11%, 09/15/2027 | 89,426 | |
| Flagship Credit Auto Trust | |||
| 259,000 | 4.69%, 07/17/2028(1) | 249,725 | |
| 77,000 | 5.05%, 01/18/2028(1) | 75,263 | |
| 195,000 | 5.21%, 05/15/2028(1) | 190,400 | |
| 45,000 | GLS Auto Receivables Issuer Trust 4.92%, 01/15/2027(1) | 44,263 | |
| 560,000 | Hertz Vehicle Financing III LLC 5.94%, 02/25/2028(1) | 553,764 | |
| 445,000 | OneMain Direct Auto Receivables Trust 5.41%, 11/14/2029(1) | 434,136 | |
| 105,000 | Prestige Auto Receivables Trust 1.62%, 11/16/2026(1) | 103,130 | |
| Santander Drive Auto Receivables Trust | |||
| 380,000 | 4.42%, 11/15/2027 | 369,879 | |
| 120,000 | 4.43%, 03/15/2027 | 117,537 | |
| 85,000 | 4.72%, 06/15/2027 | 83,326 | |
| 160,000 | 4.98%, 02/15/2028 | 157,019 | |
| 280,000 | 5.61%, 07/17/2028 | 276,505 | |
| 350,000 | 5.95%, 01/17/2028 | 347,114 | |
| 235,000 | SFS Auto Receivables Securitization Trust 5.47%, 12/20/2029(1) | 230,164 | |
| 94,353 | Tricolor Auto Securitization Trust 6.48%, 08/17/2026(1) | 94,051 | |
| Westlake Automobile Receivables Trust | |||
| 105,000 | 1.65%, 02/17/2026(1) | 102,153 | |
| 280,000 | 4.31%, 09/15/2027(1) | 274,668 | |
| 90,000 | 5.41%, 01/18/2028(1) | 88,694 | |
| 400,000 | 6.14%, 03/15/2028(1) | 397,800 | |
| 145,000 | World Omni Auto Receivables Trust 5.03%, 05/15/2029 | 140,438 | |
| 7,116,872 | |||
| Asset-Backed - Finance & Insurance - 0.5% | |||
| 380,000 | Bain Capital Credit CLO Ltd. 6.82%, 07/25/2034, 3 mo. USD Term SOFR + 1.44%(1)(2) | 377,218 | |
| 39,277 | BHG Securitization Trust 0.90%, 10/17/2034(1) | 37,845 | |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 23.7% - (continued) | |||
| Asset-Backed - Finance & Insurance - 0.5% - (continued) | |||
| $ 250,000 | BlueMountain CLO XXIV Ltd. 6.78%, 04/20/2034, 3 mo. USD Term SOFR + 1.36%(1)(2) | $ 246,125 | |
| 470,000 | BlueMountain CLO XXXI Ltd. 6.81%, 04/19/2034, 3 mo. USD Term SOFR + 1.41%(1)(2) | 463,553 | |
| 1,124,741 | |||
| Asset-Backed - Student Loan - 0.3% | |||
| Navient Private Education Refi Loan Trust | |||
| 152,582 | 0.97%, 12/16/2069(1) | 127,411 | |
| 257,158 | 1.11%, 02/18/2070(1) | 212,213 | |
| 322,046 | 5.51%, 10/15/2071(1) | 313,798 | |
| 653,422 | |||
| Commercial Mortgage-Backed Securities - 4.2% | |||
| 235,000 | 245 Park Avenue Trust 3.51%, 06/05/2037(1) | 206,348 | |
| BBCMS Mortgage Trust | |||
| 125,000 | 3.66%, 04/15/2055(3) | 103,361 | |
| 120,000 | 4.60%, 06/15/2055(3) | 106,465 | |
| 175,000 | 5.44%, 12/15/2055(3) | 164,733 | |
| 55,000 | 5.71%, 12/15/2055(3) | 52,724 | |
| Benchmark Mortgage Trust | |||
| 2,786,014 | 0.57%, 07/15/2056(3)(4) | 110,639 | |
| 560,596 | 1.51%, 01/15/2054(3)(4) | 44,400 | |
| 616,096 | 1.79%, 07/15/2053(3)(4) | 40,991 | |
| 480,000 | BX Commercial Mortgage Trust 6.15%, 09/15/2036, 1 mo. USD Term SOFR + 0.81%(1)(2) | 464,962 | |
| 630,000 | BX Trust 6.35%, 10/15/2036, 1 mo. USD Term SOFR + 1.01%(1)(2) | 609,502 | |
| 215,000 | CAMB Commercial Mortgage Trust 6.45%, 12/15/2037, 1 mo. USD Term SOFR + 1.18%(1)(2) | 213,377 | |
| 37,257 | Citigroup Commercial Mortgage Trust 3.61%, 11/10/2048 | 36,288 | |
| Commercial Mortgage Trust | |||
| 100,000 | 2.82%, 01/10/2039(1) | 84,103 | |
| 35,000 | 3.18%, 02/10/2048 | 33,543 | |
| 150,000 | 3.31%, 03/10/2048 | 143,463 | |
| 110,000 | 3.38%, 01/10/2039(1) | 87,054 | |
| 210,000 | 3.61%, 08/10/2049(1)(3) | 191,625 | |
| 29,999 | CSAIL Commercial Mortgage Trust 4.36%, 11/15/2051(3) | 28,477 | |
| 97,069 | CSMC Trust 2.26%, 08/15/2037(1) | 87,827 | |
| 280,000 | DBGS Mortgage Trust 4.47%, 10/15/2051 | 251,943 | |
| DBJPM Mortgage Trust | |||
| 466,925 | 1.71%, 09/15/2053(3)(4) | 27,168 | |
| 24,420 | 3.04%, 05/10/2049 | 23,387 | |
| FREMF Mortgage Trust | |||
| 295,000 | 3.61%, 04/25/2048(1)(3) | 283,795 | |
| 90,000 | 3.67%, 11/25/2049(1)(3) | 87,136 | |
| 230,000 | 3.76%, 07/25/2026(1)(3) | 215,133 | |
| 225,000 | 3.95%, 06/25/2049(1)(3) | 212,618 | |
| 315,000 | 4.16%, 08/25/2047(1)(3) | 308,768 | |
| 375,000 | GS Mortgage Securities Trust 3.44%, 11/10/2049(3) | 344,779 | |
| 200,000 | Hawaii Hotel Trust 6.53%, 05/15/2038, 1 mo. USD Term SOFR + 1.20%(1)(2) | 197,615 | |
| 1,097,000 | JP Morgan Chase Commercial Mortgage Securities Trust 2.82%, 08/15/2049 | 991,935 | |
| JPMBB Commercial Mortgage Securities Trust | |||
| 40,788 | 3.56%, 12/15/2048 | 39,670 | |
| 635,000 | 3.58%, 03/17/2049 | 594,536 | |
| 1 |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 23.7% - (continued) | |||
| Commercial Mortgage-Backed Securities - 4.2% - (continued) | |||
| JPMDB Commercial Mortgage Securities Trust | |||
| $ 75,574 | 2.95%, 06/15/2049 | $ 72,514 | |
| 632,000 | 3.14%, 12/15/2049 | 567,891 | |
| 119,666 | 3.24%, 10/15/2050 | 112,409 | |
| 722,483 | Life Mortgage Trust 6.15%, 03/15/2038, 1 mo. USD Term SOFR + 0.81%(1)(2) | 707,394 | |
| 210,000 | Morgan Stanley Bank of America Merrill Lynch Trust 3.53%, 12/15/2047 | 202,710 | |
| 50,000 | SG Commercial Mortgage Securities Trust 2.63%, 03/15/2037(1) | 45,761 | |
| Wells Fargo Commercial Mortgage Trust | |||
| 360,000 | 3.15%, 05/15/2048 | 342,764 | |
| 719,000 | 3.43%, 03/15/2059 | 670,875 | |
| 39,462 | 3.52%, 12/15/2048 | 38,293 | |
| 420,000 | 3.64%, 03/15/2050 | 380,024 | |
| 235,000 | 3.81%, 12/15/2048 | 222,231 | |
| Wells Fargo NA | |||
| 3,982,326 | 0.64%, 11/15/2062(3)(4) | 123,290 | |
| 949,702 | 0.94%, 02/15/2052(3)(4) | 34,618 | |
| 997,258 | 0.99%, 02/15/2056(3)(4) | 62,404 | |
| 1,473,698 | 1.33%, 11/15/2053(3)(4) | 97,786 | |
| 1,248,072 | 1.76%, 03/15/2063(3)(4) | 110,220 | |
| 170,000 | 2.04%, 02/15/2054 | 127,708 | |
| 145,000 | 4.41%, 11/15/2061(3) | 133,230 | |
| 10,440,487 | |||
| Other Asset-Backed Securities - 8.7% | |||
| Affirm Asset Securitization Trust | |||
| 3,894 | 1.90%, 01/15/2025(1) | 3,872 | |
| 210,000 | 6.61%, 01/18/2028(1) | 208,964 | |
| 425,000 | Aligned Data Centers Issuer LLC 6.00%, 08/17/2048(1) | 400,891 | |
| 102,556 | Amur Equipment Finance Receivables XI LLC 5.30%, 06/21/2028(1) | 101,554 | |
| 100,000 | Arbor Realty Commercial Real Estate Notes Ltd. 6.55%, 05/15/2036, 1 mo. USD Term SOFR + 1.21%(1)(2) | 98,816 | |
| 75,645 | Avant Loans Funding Trust 1.21%, 07/15/2030(1) | 74,818 | |
| 456,208 | Barings CLO Ltd. 6.87%, 10/20/2030, 3 mo. USD Term SOFR + 1.45%(1)(2) | 455,182 | |
| 315,000 | Benefit Street Partners CLO XXXI Ltd. 7.73%, 04/25/2036, 3 mo. USD Term SOFR + 2.35%(1)(2) | 314,225 | |
| 460,000 | BlueMountain CLO XXXIII Ltd. 6.83%, 11/20/2034, 3 mo. USD Term SOFR + 1.45%(1)(2) | 455,393 | |
| 245,524 | Carlyle Global Market Strategies CLO Ltd. 6.68%, 05/15/2031, 3 mo. USD Term SOFR + 1.31%(1)(2) | 244,946 | |
| 251,409 | Carlyle U.S. CLO Ltd. 6.70%, 04/20/2031, 3 mo. USD Term SOFR + 1.28%(1)(2) | 250,111 | |
| 190,000 | CCG Receivables Trust 5.82%, 09/16/2030(1) | 189,371 | |
| CF Hippolyta Issuer LLC | |||
| 94,245 | 1.53%, 03/15/2061(1) | 82,430 | |
| 126,765 | 1.69%, 07/15/2060(1) | 114,965 | |
| 97,713 | 5.97%, 08/15/2062(1) | 94,739 | |
| 95,000 | CNH Equipment Trust 4.77%, 10/15/2030 | 91,753 | |
| DB Master Finance LLC | |||
| 147,375 | 2.79%, 11/20/2051(1) | 111,426 | |
| 705,600 | 4.35%, 05/20/2049(1) | 642,887 | |
| 160,000 | DLLAA LLC 5.64%, 02/22/2028(1) | 158,418 | |
| Domino's Pizza Master Issuer LLC | |||
| 151,125 | 2.66%, 04/25/2051(1) | 126,256 | |
| 433,125 | 3.67%, 10/25/2049(1) | 369,404 | |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 23.7% - (continued) | |||
| Other Asset-Backed Securities - 8.7% - (continued) | |||
| $ 207,350 | 4.12%, 07/25/2047(1) | $ 191,007 | |
| 260,939 | Dryden 55 CLO Ltd. 6.68%, 04/15/2031, 3 mo. USD Term SOFR + 1.28%(1)(2) | 259,678 | |
| Elmwood CLO Ltd. | |||
| 295,000 | 7.64%, 04/16/2036, 3 mo. USD Term SOFR + 2.25%(1)(2) | 291,071 | |
| 435,000 | 7.80%, 10/17/2036, 3 mo. USD Term SOFR + 2.40%(1)(2) | 434,958 | |
| FirstKey Homes Trust | |||
| 154,128 | 4.15%, 05/17/2039(1) | 144,026 | |
| 586,682 | 4.25%, 07/17/2039(1) | 546,749 | |
| 640,000 | FS Rialto Issuer LLC 6.70%, 11/16/2036, 1 mo. USD Term SOFR + 1.36%(1)(2) | 627,379 | |
| 703,080 | Galaxy XXIV CLO Ltd. 6.78%, 01/15/2031, 3 mo. USD Term SOFR + 1.38%(1)(2) | 701,253 | |
| 250,000 | Invesco U.S. CLO Ltd. 7.71%, 04/21/2036, 3 mo. USD Term SOFR + 2.30%(1)(2) | 247,407 | |
| 256,752 | KKR CLO 21 Ltd. 6.66%, 04/15/2031, 3 mo. USD Term SOFR + 1.26%(1)(2) | 255,292 | |
| 215,000 | Kubota Credit Owner Trust 5.02%, 06/15/2027(1) | 211,176 | |
| 270,000 | Madison Park Funding XXII Ltd. 6.92%, 01/15/2033, 3 mo. USD Term SOFR + 1.52%(1)(2) | 269,473 | |
| 248,903 | Magnetite XVII Ltd. 6.78%, 07/20/2031, 3 mo. USD Term SOFR + 1.36%(1)(2) | 248,243 | |
| 330,000 | MF1 Ltd. 7.08%, 02/19/2037, 1 mo. USD Term SOFR + 1.75%(1)(2) | 320,499 | |
| 380,000 | New Economy Assets Phase 1 Sponsor LLC 1.91%, 10/20/2061(1) | 324,927 | |
| 410,000 | Octagon 61 Ltd. 7.77%, 04/20/2036, 3 mo. USD Term SOFR + 2.35%(1)(2) | 411,380 | |
| 785,000 | Octagon Investment Partners XXI Ltd. 6.63%, 02/14/2031, 3 mo. USD Term SOFR + 1.26%(1)(2) | 780,292 | |
| PRET LLC | |||
| 167,415 | 1.74%, 07/25/2051(1)(5) | 154,114 | |
| 478,653 | 1.84%, 09/25/2051(1)(5) | 432,775 | |
| 115,019 | 1.87%, 07/25/2051(1)(5) | 104,756 | |
| 478,678 | 2.49%, 10/25/2051(1)(5) | 442,009 | |
| 365,511 | Pretium Mortgage Credit Partners I LLC 2.36%, 10/27/2060(1)(5) | 341,361 | |
| 207,433 | Pretium Mortgage Credit Partners LLC 1.99%, 02/25/2061(1)(5) | 193,023 | |
| Progress Residential Trust | |||
| 401,967 | 1.51%, 10/17/2038(1) | 350,368 | |
| 144,016 | 3.20%, 04/17/2039(1) | 129,991 | |
| 398,972 | 4.44%, 05/17/2041(1) | 363,419 | |
| 106,629 | 4.45%, 06/17/2039(1) | 100,348 | |
| 178,743 | 4.75%, 10/27/2039(1) | 168,495 | |
| 91,490 | Regional Management Issuance Trust 2.34%, 10/15/2030(1) | 89,032 | |
| 625,000 | Retained Vantage Data Centers Issuer LLC 5.00%, 09/15/2048(1) | 563,884 | |
| 635,000 | RR 23 Ltd. 8.00%, 10/15/2035, 3 mo. USD Term SOFR + 2.65%(1)(2) | 633,286 | |
| 3,350 | SoFi Consumer Loan Program Trust 0.49%, 09/25/2030(1) | 3,330 | |
| 718,076 | Sound Point CLO XIX Ltd. 6.66%, 04/15/2031, 3 mo. USD Term SOFR + 1.26%(1)(2) | 713,647 | |
| 390,000 | Sound Point CLO XXIX Ltd. 6.71%, 04/25/2034, 3 mo. USD Term SOFR + 1.33%(1)(2) | 384,323 | |
| Stack Infrastructure Issuer LLC | |||
| 60,000 | 1.89%, 08/25/2045(1) | 54,553 | |
| 410,000 | 5.90%, 07/25/2048(1) | 390,393 | |
| 2 |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 23.7% - (continued) | |||
| Other Asset-Backed Securities - 8.7% - (continued) | |||
| $ 75,000 | Summit Issuer LLC 2.29%, 12/20/2050(1) | $ 67,713 | |
| 350,000 | Texas Debt Capital CLO Ltd. 7.72%, 04/20/2036, 3 mo. USD Term SOFR + 2.30%(1)(2) | 349,986 | |
| 655,000 | Tricon Residential Trust 3.86%, 04/17/2039(1) | 604,734 | |
| 26,533 | Upstart Securitization Trust 0.84%, 09/20/2031(1) | 26,323 | |
| 235,000 | Vantage Data Centers Issuer LLC 1.65%, 09/15/2045(1) | 212,841 | |
| VCAT LLC | |||
| 111,982 | 1.74%, 05/25/2051(1)(5) | 102,529 | |
| 598,271 | 1.87%, 08/25/2051(1)(5) | 556,109 | |
| 442,902 | 1.92%, 09/25/2051(1)(5) | 405,623 | |
| 42,493 | 2.12%, 03/27/2051(1)(5) | 40,543 | |
| 660,000 | Venture 37 CLO Ltd. 6.81%, 07/15/2032, 3 mo. USD Term SOFR + 1.41%(1)(2) | 649,681 | |
| 390,000 | Venture 42 CLO Ltd. 6.79%, 04/15/2034, 3 mo. USD Term SOFR + 1.39%(1)(2) | 382,927 | |
| 150,000 | Venture 43 CLO Ltd. 6.90%, 04/15/2034, 3 mo. USD Term SOFR + 1.50%(1)(2) | 148,755 | |
| 227,877 | VOLT CIII LLC 1.99%, 08/25/2051(1)(5) | 199,124 | |
| 164,581 | VOLT XCIII LLC 1.89%, 02/27/2051(1)(5) | 152,888 | |
| 122,532 | VOLT XCIV LLC 2.24%, 02/27/2051(1)(5) | 115,403 | |
| 149,899 | VOLT XCIX LLC 2.12%, 04/25/2051(1)(5) | 135,014 | |
| 84,356 | VOLT XCV LLC 2.24%, 03/27/2051(1)(5) | 77,946 | |
| 250,000 | Voya CLO Ltd. 6.85%, 10/18/2031, 3 mo. USD Term SOFR + 1.45%(1)(2) | 249,539 | |
| 299,617 | Wellfleet CLO X Ltd. 6.85%, 07/20/2032, 3 mo. USD Term SOFR + 1.43%(1)(2) | 296,256 | |
| 200,388 | Wendy's Funding LLC 2.37%, 06/15/2051(1) | 162,418 | |
| 98,500 | Wingstop Funding LLC 2.84%, 12/05/2050(1) | 84,802 | |
| 21,489,492 | |||
| Whole Loan Collateral CMO - 7.1% | |||
| 260,465 | 510 Asset-Backed Trust 2.12%, 06/25/2061(1)(5) | 240,891 | |
| Angel Oak Mortgage Trust | |||
| 86,494 | 0.91%, 01/25/2066(1)(3) | 68,761 | |
| 303,912 | 0.95%, 07/25/2066(1)(3) | 235,835 | |
| 51,153 | 0.99%, 04/25/2053(1)(3) | 45,904 | |
| 76,203 | 0.99%, 04/25/2066(1)(3) | 60,604 | |
| 199,373 | 1.04%, 01/20/2065(1)(3) | 152,942 | |
| 143,609 | 1.07%, 05/25/2066(1)(3) | 116,548 | |
| 452,925 | 1.46%, 09/25/2066(1)(3) | 339,978 | |
| 25,269 | 1.47%, 06/25/2065(1)(3) | 23,016 | |
| 43,222 | 1.69%, 04/25/2065(1)(3) | 39,050 | |
| 221,189 | 1.82%, 11/25/2066(1)(3) | 178,997 | |
| 591,961 | 2.88%, 12/25/2066(1)(5) | 496,310 | |
| 26,110 | Arroyo Mortgage Trust 3.81%, 01/25/2049(1)(3) | 23,904 | |
| 148,944 | BINOM Securitization Trust 2.03%, 06/25/2056(1)(3) | 122,443 | |
| BRAVO Residential Funding Trust | |||
| 50,688 | 0.94%, 02/25/2049(1)(3) | 43,398 | |
| 66,337 | 0.97%, 03/25/2060(1)(3) | 59,636 | |
| 381,133 | 1.62%, 03/01/2061(1)(5) | 338,174 | |
| Bunker Hill Loan Depositary Trust | |||
| 44,294 | 1.72%, 02/25/2055(1)(3) | 41,918 | |
| 24,299 | 2.88%, 07/25/2049(1)(5) | 22,327 | |
| 69,117 | Cascade MH Asset Trust 1.75%, 02/25/2046(1) | 55,179 | |
| 388,327 | CIM Trust 1.43%, 07/25/2061(1)(3) | 325,003 | |
| COLT Mortgage Loan Trust | |||
| 34,954 | 0.80%, 07/27/2054(1) | 29,328 | |
| 128,132 | 0.91%, 06/25/2066(1)(3) | 97,538 | |
| 203,185 | 0.92%, 08/25/2066(1)(3) | 155,051 | |
| 370,056 | 0.96%, 09/27/2066(1)(3) | 279,878 | |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 23.7% - (continued) | |||
| Whole Loan Collateral CMO - 7.1% - (continued) | |||
| $ 457,991 | 1.11%, 10/25/2066(1)(3) | $ 364,834 | |
| 50,236 | 1.33%, 10/26/2065(1)(3) | 43,635 | |
| 28,107 | 1.51%, 04/27/2065(1)(3) | 26,097 | |
| 525,490 | 2.28%, 12/27/2066(1)(3) | 437,966 | |
| 91,099 | 4.30%, 03/25/2067(1)(3) | 86,555 | |
| 239,562 | COLT Trust 1.39%, 01/25/2065(1)(3) | 191,680 | |
| Connecticut Avenue Securities Trust | |||
| 299,520 | 7.22%, 06/25/2043, 30 day USD SOFR Average + 1.90%(1)(2) | 300,707 | |
| 101,673 | 7.62%, 05/25/2043, 30 day USD SOFR Average + 2.30%(1)(2) | 103,019 | |
| 150,422 | 7.82%, 04/25/2043, 30 day USD SOFR Average + 2.50%(1)(2) | 152,220 | |
| CSMC Trust | |||
| 91,487 | 0.83%, 03/25/2056(1)(3) | 69,810 | |
| 186,361 | 0.94%, 05/25/2066(1)(3) | 141,148 | |
| 456,742 | 1.17%, 07/25/2066(1)(3) | 348,395 | |
| 162,431 | 1.18%, 02/25/2066(1)(3) | 133,791 | |
| 78,893 | 1.21%, 05/25/2065(1)(5) | 69,384 | |
| 76,613 | 1.80%, 12/27/2060(1)(3) | 67,629 | |
| 230,075 | 1.84%, 10/25/2066(1)(3) | 191,393 | |
| 156,072 | 2.00%, 01/25/2060(1)(3) | 130,958 | |
| 574,744 | 2.27%, 11/25/2066(1)(3) | 466,135 | |
| Deephaven Residential Mortgage Trust | |||
| 24,567 | 0.72%, 05/25/2065(1)(3) | 22,306 | |
| 52,551 | 0.90%, 04/25/2066(1)(3) | 42,205 | |
| Ellington Financial Mortgage Trust | |||
| 29,005 | 0.80%, 02/25/2066(1)(3) | 23,313 | |
| 58,283 | 0.93%, 06/25/2066(1)(3) | 44,064 | |
| 22,909 | 1.18%, 10/25/2065(1)(3) | 19,982 | |
| 326,538 | 1.24%, 09/25/2066(1)(3) | 247,200 | |
| 265,497 | 2.21%, 01/25/2067(1)(3) | 218,278 | |
| Federal National Mortgage Association Connecticut Avenue Securities | |||
| 140,170 | 7.02%, 07/25/2043, 30 day USD SOFR Average + 1.70%(1)(2) | 140,168 | |
| 61,291 | 7.87%, 07/25/2042, 30 day USD SOFR Average + 2.55%(1)(2) | 62,651 | |
| GCAT Trust | |||
| 101,528 | 0.87%, 01/25/2066(1)(3) | 78,931 | |
| 109,167 | 1.04%, 05/25/2066(1)(3) | 86,043 | |
| 321,027 | 1.09%, 08/25/2066(1)(3) | 242,943 | |
| 452,880 | 1.26%, 07/25/2066(1)(3) | 348,820 | |
| 21,279 | 1.56%, 04/25/2065(1)(5) | 18,998 | |
| 165,725 | 1.92%, 08/25/2066(1)(3) | 138,763 | |
| 9,677 | 2.25%, 01/25/2060(1)(5) | 9,013 | |
| Imperial Fund Mortgage Trust | |||
| 178,338 | 1.07%, 09/25/2056(1)(3) | 134,138 | |
| 547,170 | 2.09%, 01/25/2057(1)(3) | 443,404 | |
| 626,353 | 3.64%, 03/25/2067(1)(5) | 545,430 | |
| Legacy Mortgage Asset Trust | |||
| 88,443 | 1.65%, 11/25/2060(1)(5) | 77,042 | |
| 77,651 | 1.75%, 04/25/2061(1)(5) | 69,261 | |
| 105,800 | 1.75%, 07/25/2061(1)(5) | 93,856 | |
| MetLife Securitization Trust | |||
| 37,817 | 3.75%, 03/25/2057(1)(3) | 34,367 | |
| 32,808 | 3.75%, 04/25/2058(1)(3) | 31,236 | |
| MFA Trust | |||
| 20,965 | 1.01%, 01/26/2065(1)(3) | 18,409 | |
| 132,687 | 1.03%, 11/25/2064(1)(3) | 105,422 | |
| 58,289 | 1.15%, 04/25/2065(1)(3) | 50,516 | |
| 21,294 | Mill City Mortgage Loan Trust 3.50%, 05/25/2058(1)(3) | 20,802 | |
| 3 |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 23.7% - (continued) | |||
| Whole Loan Collateral CMO - 7.1% - (continued) | |||
| New Residential Mortgage Loan Trust | |||
| $ 74,383 | 0.94%, 07/25/2055(1)(3) | $ 62,328 | |
| 49,396 | 0.94%, 10/25/2058(1)(3) | 42,765 | |
| 370,683 | 1.16%, 11/27/2056(1)(3) | 293,846 | |
| 17,230 | 1.65%, 05/24/2060(1)(3) | 15,929 | |
| 517,609 | 2.28%, 04/25/2061(1)(3) | 416,959 | |
| 87,067 | 3.50%, 12/25/2057(1)(3) | 80,612 | |
| 14,343 | 3.75%, 03/25/2056(1)(3) | 12,993 | |
| 39,248 | 3.75%, 11/25/2058(1)(3) | 35,174 | |
| 168,071 | 4.00%, 03/25/2057(1)(3) | 153,433 | |
| 180,939 | 4.00%, 12/25/2057(1)(3) | 166,810 | |
| 226,282 | NMLT Trust 1.19%, 05/25/2056(1)(3) | 176,384 | |
| OBX Trust | |||
| 232,328 | 1.05%, 07/25/2061(1)(3) | 167,057 | |
| 154,570 | 1.07%, 02/25/2066(1)(3) | 122,693 | |
| 463,392 | 2.31%, 11/25/2061(1)(3) | 377,132 | |
| Preston Ridge Partners Mortgage LLC | |||
| 214,305 | 1.74%, 09/25/2026(1)(3) | 197,173 | |
| 143,053 | 1.79%, 06/25/2026(1)(5) | 129,250 | |
| 205,892 | 1.79%, 07/25/2026(1)(5) | 191,753 | |
| 230,562 | 1.87%, 04/25/2026(1)(5) | 214,720 | |
| 323,666 | 1.87%, 08/25/2026(1)(5) | 295,297 | |
| 52,887 | 2.12%, 03/25/2026(1)(3) | 50,624 | |
| 46,769 | 2.36%, 11/25/2025(1)(5) | 45,295 | |
| 419,775 | 2.36%, 10/25/2026(1)(5) | 391,217 | |
| 84,225 | PRPM LLC 1.32%, 07/25/2051(1)(5) | 73,909 | |
| 48,807 | Residential Mortgage Loan Trust 0.86%, 01/25/2065(1)(3) | 44,016 | |
| 17,882 | Seasoned Credit Risk Transfer Trust 2.50%, 08/25/2059 | 15,750 | |
| 114,129 | STAR Trust 1.22%, 05/25/2065(1)(3) | 98,297 | |
| Starwood Mortgage Residential Trust | |||
| 40,439 | 0.94%, 05/25/2065(1)(3) | 35,513 | |
| 378,359 | 1.16%, 08/25/2056(1)(3) | 298,722 | |
| 18,039 | 1.49%, 04/25/2065(1)(3) | 16,621 | |
| 356,501 | 1.92%, 11/25/2066(1)(3) | 275,210 | |
| 129,116 | Toorak Mortgage Corp. Ltd. 2.24%, 06/25/2024(1)(5) | 125,656 | |
| Towd Point Mortgage Trust | |||
| 107,257 | 1.75%, 10/25/2060(1) | 91,668 | |
| 36,654 | 2.16%, 01/25/2052(1)(3) | 36,252 | |
| 126,669 | 2.75%, 10/25/2057(1)(3) | 120,025 | |
| 44,185 | 2.90%, 10/25/2059(1)(3) | 40,281 | |
| 346,485 | 2.92%, 11/30/2060(1)(3) | 281,117 | |
| 29,906 | 3.25%, 03/25/2058(1)(3) | 28,537 | |
| 171,874 | 3.75%, 03/25/2058(1)(3) | 158,783 | |
| 145,339 | TRK Trust 1.15%, 07/25/2056(1)(3) | 120,692 | |
| Verus Securitization Trust | |||
| 71,357 | 0.92%, 02/25/2064(1)(3) | 60,357 | |
| 161,665 | 0.94%, 07/25/2066(1)(3) | 128,669 | |
| 397,031 | 1.01%, 09/25/2066(1)(3) | 315,121 | |
| 62,601 | 1.03%, 02/25/2066(1)(3) | 51,320 | |
| 43,323 | 1.22%, 05/25/2065(1)(5) | 39,159 | |
| 29,812 | 1.50%, 05/25/2065(1)(5) | 27,431 | |
| 249,070 | 1.82%, 11/25/2066(1)(3) | 201,342 | |
| 493,743 | 1.83%, 10/25/2066(1)(3) | 405,747 | |
| 27,455 | 2.69%, 11/25/2059(1)(3) | 26,347 | |
| 355,706 | 2.72%, 01/25/2067(1)(5) | 300,701 | |
| 17,342,217 | |||
| Total Asset & Commercial Mortgage-Backed Securities (cost $63,713,712) | $ 58,167,231 | ||
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% | |||
| Aerospace/Defense - 0.2% | |||
| Boeing Co. | |||
| $ 161,000 | 5.04%, 05/01/2027 | $ 155,984 | |
| 60,000 | 5.15%, 05/01/2030 | 56,312 | |
| 270,000 | Northrop Grumman Corp. 5.15%, 05/01/2040 | 237,717 | |
| 450,013 | |||
| Agriculture - 0.8% | |||
| BAT Capital Corp. | |||
| 145,000 | 6.34%, 08/02/2030 | 140,732 | |
| 35,000 | 6.42%, 08/02/2033 | 33,103 | |
| Cargill, Inc. | |||
| 255,000 | 2.13%, 11/10/2031(1) | 193,487 | |
| 110,000 | 4.00%, 06/22/2032(1) | 96,019 | |
| 135,000 | 4.75%, 04/24/2033(1) | 123,743 | |
| Philip Morris International, Inc. | |||
| 475,000 | 4.88%, 02/15/2028 | 456,667 | |
| 315,000 | 5.13%, 11/17/2027 | 307,208 | |
| 375,000 | 5.13%, 02/15/2030 | 353,782 | |
| 85,000 | 5.38%, 02/15/2033 | 78,694 | |
| 110,000 | 5.63%, 11/17/2029 | 107,714 | |
| 200,000 | 5.63%, 09/07/2033 | 188,184 | |
| 2,079,333 | |||
| Auto Manufacturers - 0.2% | |||
| 245,000 | Hyundai Capital America 5.50%, 03/30/2026(1) | 241,005 | |
| 250,000 | Mercedes-Benz Finance North America LLC 4.95%, 03/30/2025(1) | 247,679 | |
| 488,684 | |||
| Beverages - 0.1% | |||
| 155,000 | Bacardi Ltd./Bacardi-Martini BV 5.40%, 06/15/2033(1) | 141,878 | |
| Biotechnology - 0.7% | |||
| Amgen, Inc. | |||
| 130,000 | 5.15%, 03/02/2028 | 126,930 | |
| 60,000 | 5.25%, 03/02/2030 | 57,682 | |
| 245,000 | 5.25%, 03/02/2033 | 228,896 | |
| 125,000 | 5.75%, 03/02/2063 | 108,989 | |
| CSL Finance PLC | |||
| 75,000 | 4.05%, 04/27/2029(1) | 69,404 | |
| 170,000 | 4.25%, 04/27/2032(1) | 151,310 | |
| Gilead Sciences, Inc. | |||
| 250,000 | 1.65%, 10/01/2030 | 191,318 | |
| 230,000 | 5.25%, 10/15/2033 | 218,369 | |
| Royalty Pharma PLC | |||
| 140,000 | 2.15%, 09/02/2031 | 103,003 | |
| 560,000 | 2.20%, 09/02/2030 | 428,228 | |
| 1,684,129 | |||
| Chemicals - 0.5% | |||
| Celanese U.S. Holdings LLC | |||
| 386,000 | 6.17%, 07/15/2027 | 376,962 | |
| 125,000 | 6.35%, 11/15/2028 | 122,104 | |
| 175,000 | 6.55%, 11/15/2030 | 168,566 | |
| 320,000 | Nutrien Ltd. 4.90%, 03/27/2028 | 306,707 | |
| Sherwin-Williams Co. | |||
| 312,000 | 2.30%, 05/15/2030 | 249,106 | |
| 2,000 | 2.95%, 08/15/2029 | 1,706 | |
| 1,225,151 | |||
| Commercial Banks - 8.2% | |||
| Bank of America Corp. | |||
| 85,000 | 1.90%, 07/23/2031, (1.90% fixed rate until 07/23/2030; 6 mo. USD SOFR + 1.53% thereafter)(6) | 63,354 | |
| 4 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Commercial Banks - 8.2% - (continued) | |||
| $ 550,000 | 1.92%, 10/24/2031, (1.92% fixed rate until 10/24/2030; 6 mo. USD SOFR + 1.37% thereafter)(6) | $ 407,222 | |
| 55,000 | 2.57%, 10/20/2032, (2.57% fixed rate until 10/20/2031; 6 mo. USD SOFR + 1.21% thereafter)(6) | 41,273 | |
| 110,000 | 2.59%, 04/29/2031, (2.59% fixed rate until 04/29/2030; 6 mo. USD SOFR + 2.15% thereafter)(6) | 86,855 | |
| 1,395,000 | 2.69%, 04/22/2032, (2.69% fixed rate until 04/22/2031; 6 mo. USD SOFR + 1.32% thereafter)(6) | 1,071,714 | |
| 35,000 | 3.42%, 12/20/2028, (3.42% fixed rate until 12/20/2027; 3 mo. USD Term SOFR + 1.30% thereafter)(6) | 31,175 | |
| 671,000 | 3.97%, 02/07/2030, (3.97% fixed rate until 02/07/2029; 3 mo. USD Term SOFR + 1.47% thereafter)(6) | 593,721 | |
| 165,000 | 5.20%, 04/25/2029, (5.20% fixed rate until 04/25/2028; 6 mo. USD SOFR + 1.63% thereafter)(6) | 156,951 | |
| 400,000 | 5.93%, 09/15/2027, (5.93% fixed rate until 09/15/2026; 6 mo. USD SOFR + 1.34% thereafter)(6) | 396,067 | |
| 390,000 | Bank of New York Mellon Corp. 6.32%, 10/25/2029, (6.32% fixed rate until 10/25/2028; 6 mo. USD SOFR + 1.60% thereafter)(6) | 393,284 | |
| Barclays PLC | |||
| 220,000 | 6.22%, 05/09/2034, (6.22% fixed rate until 05/09/2033; 2 mo. USD SOFR + 2.98% thereafter)(6) | 202,106 | |
| 200,000 | 7.12%, 06/27/2034, (7.12% fixed rate until 06/27/2033; 6 mo. USD SOFR + 3.57% thereafter)(6) | 186,104 | |
| 200,000 | 7.39%, 11/02/2028, (7.39% fixed rate until 11/02/2027; 1 yr. USD CMT + 3.30% thereafter)(6) | 202,278 | |
| 410,000 | BNP Paribas SA 5.34%, 06/12/2029, (5.34% fixed rate until 06/12/2028; 1 yr. USD CMT + 1.50% thereafter)(1)(6) | 393,834 | |
| BPCE SA | |||
| 250,000 | 2.05%, 10/19/2027, (2.05% fixed rate until 10/19/2026; 6 mo. USD SOFR + 1.09% thereafter)(1)(6) | 218,155 | |
| 880,000 | 6.71%, 10/19/2029, (6.71% fixed rate until 10/19/2028; 6 mo. USD SOFR + 2.27% thereafter)(1)(6) | 868,048 | |
| 425,000 | 7.00%, 10/19/2034, (7.00% fixed rate until 10/19/2033; 6 mo. USD SOFR + 2.59% thereafter)(1)(6) | 413,708 | |
| 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)(6) | 247,384 | |
| 250,000 | Credit Agricole SA 6.32%, 10/03/2029, (6.32% fixed rate until 10/03/2028; 6 mo. USD SOFR + 1.86% thereafter)(1)(6) | 245,821 | |
| 200,000 | Danske Bank AS 6.26%, 09/22/2026, (6.26% fixed rate until 09/22/2025; 1 yr. USD CMT + 1.18% thereafter)(1)(6) | 199,451 | |
| Deutsche Bank AG | |||
| 300,000 | 2.13%, 11/24/2026, (2.13% fixed rate until 11/24/2025; 6 mo. USD SOFR + 1.87% thereafter)(6) | 270,857 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Commercial Banks - 8.2% - (continued) | |||
| $ 150,000 | 6.72%, 01/18/2029, (6.72% fixed rate until 01/18/2028; 6 mo. USD SOFR + 3.18% thereafter)(6) | $ 147,154 | |
| 35,000 | Fifth Third Bancorp 6.34%, 07/27/2029, (6.34% fixed rate until 07/27/2028; 2 mo. USD SOFR + 2.34% thereafter)(6) | 33,934 | |
| Goldman Sachs Group, Inc. | |||
| 40,000 | 1.09%, 12/09/2026, (1.09% fixed rate until 12/09/2025; 6 mo. USD SOFR + 0.79% thereafter)(6) | 35,706 | |
| 75,000 | 1.99%, 01/27/2032, (1.99% fixed rate until 01/27/2031; 6 mo. USD SOFR + 1.09% thereafter)(6) | 55,143 | |
| 305,000 | 2.38%, 07/21/2032, (2.38% fixed rate until 07/21/2031; 6 mo. USD SOFR + 1.25% thereafter)(6) | 226,845 | |
| 371,000 | 2.60%, 02/07/2030 | 298,513 | |
| 650,000 | 2.62%, 04/22/2032, (2.62% fixed rate until 04/22/2031; 6 mo. USD SOFR + 1.28% thereafter)(6) | 496,508 | |
| HSBC Holdings PLC | |||
| 200,000 | 1.59%, 05/24/2027, (1.59% fixed rate until 05/24/2026; 6 mo. USD SOFR + 1.29% thereafter)(6) | 176,154 | |
| 230,000 | 2.21%, 08/17/2029, (2.21% fixed rate until 08/17/2028; 6 mo. USD SOFR + 1.29% thereafter)(6) | 187,265 | |
| 200,000 | 2.80%, 05/24/2032, (2.80% fixed rate until 05/24/2031; 6 mo. USD SOFR + 1.19% thereafter)(6) | 151,019 | |
| 205,000 | 4.58%, 06/19/2029, (4.58% fixed rate until 06/19/2028; 3 mo. USD Term SOFR + 1.80% thereafter)(6) | 186,889 | |
| 245,000 | 5.21%, 08/11/2028, (5.21% fixed rate until 08/11/2027; 6 mo. USD SOFR + 2.61% thereafter)(6) | 233,789 | |
| 610,000 | 5.40%, 08/11/2033, (5.40% fixed rate until 08/11/2032; 6 mo. USD SOFR + 2.87% thereafter)(6) | 549,311 | |
| 200,000 | 6.16%, 03/09/2029, (6.16% fixed rate until 03/09/2028; 6 mo. USD SOFR + 1.97% thereafter)(6) | 196,000 | |
| 330,000 | 6.55%, 06/20/2034, (6.55% fixed rate until 06/20/2033; 6 mo. USD SOFR + 2.98% thereafter)(6) | 307,401 | |
| 55,000 | Huntington Bancshares, Inc. 6.21%, 08/21/2029, (6.21% fixed rate until 08/21/2028; 6 mo. USD SOFR + 2.02% thereafter)(6) | 52,901 | |
| 250,000 | Huntington National Bank 5.65%, 01/10/2030 | 229,286 | |
| 200,000 | Intesa Sanpaolo SpA 6.63%, 06/20/2033(1) | 183,704 | |
| JP Morgan Chase & Co. | |||
| 893,000 | 2.30%, 10/15/2025, (2.30% fixed rate until 10/15/2024; 6 mo. USD SOFR + 1.16% thereafter)(6) | 859,435 | |
| 345,000 | 2.55%, 11/08/2032, (2.55% fixed rate until 11/08/2031; 6 mo. USD SOFR + 1.18% thereafter)(6) | 261,938 | |
| 305,000 | 5.30%, 07/24/2029, (5.30% fixed rate until 07/24/2028; 6 mo. USD SOFR + 1.45% thereafter)(6) | 293,786 | |
| 180,000 | 6.07%, 10/22/2027, (6.07% fixed rate until 10/22/2026; 6 mo. USD SOFR + 1.33% thereafter)(6) | 179,737 | |
| 5 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Commercial Banks - 8.2% - (continued) | |||
| $ 65,000 | 6.09%, 10/23/2029, (6.09% fixed rate until 10/23/2028; 6 mo. USD SOFR + 1.57% thereafter)(6) | $ 64,642 | |
| M&T Bank Corp. | |||
| 245,000 | 5.05%, 01/27/2034, (5.05% fixed rate until 01/27/2033; 6 mo. USD SOFR + 1.85% thereafter)(6) | 204,821 | |
| 225,000 | 7.41%, 10/30/2029, (7.41% fixed rate until 10/30/2028; 6 mo. USD SOFR + 2.80% thereafter)(6) | 225,747 | |
| 500,000 | Manufacturers & Traders Trust Co. 4.70%, 01/27/2028 | 453,303 | |
| Morgan Stanley | |||
| 562,000 | 1.79%, 02/13/2032, (1.79% fixed rate until 02/13/2031; 6 mo. USD SOFR + 1.03% thereafter)(6) | 407,326 | |
| 95,000 | 1.93%, 04/28/2032, (1.93% fixed rate until 04/28/2031; 6 mo. USD SOFR + 1.02% thereafter)(6) | 69,006 | |
| 337,000 | 2.70%, 01/22/2031, (2.70% fixed rate until 01/22/2030; 6 mo. USD SOFR + 1.14% thereafter)(6) | 271,154 | |
| 141,000 | 3.97%, 07/22/2038(3) | 107,024 | |
| 255,000 | 5.12%, 02/01/2029, (5.12% fixed rate until 02/01/2028; 6 mo. USD SOFR + 1.73% thereafter)(6) | 242,890 | |
| 440,000 | 5.16%, 04/20/2029, (5.16% fixed rate until 04/20/2028; 6 mo. USD SOFR + 1.59% thereafter)(6) | 418,827 | |
| 115,000 | 5.45%, 07/20/2029, (5.45% fixed rate until 07/20/2028; 2 mo. USD SOFR + 1.63% thereafter)(6) | 110,676 | |
| 40,000 | 5.95%, 01/19/2038, (5.95% fixed rate until 01/19/2033; 5 yr. USD CMT + 2.43% thereafter)(6) | 36,386 | |
| 630,000 | 6.41%, 11/01/2029, (6.41% fixed rate until 11/01/2028; 6 mo. USD SOFR + 1.83% thereafter)(6) | 629,378 | |
| 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)(6) | 240,871 | |
| 245,000 | Norinchukin Bank 5.43%, 03/09/2028(1)(7) | 240,450 | |
| PNC Financial Services Group, Inc. | |||
| 110,000 | 5.07%, 01/24/2034, (5.07% fixed rate until 01/24/2033; 6 mo. USD SOFR + 1.93% thereafter)(6) | 96,997 | |
| 90,000 | 6.88%, 10/20/2034, (6.88% fixed rate until 10/20/2033; 6 mo. USD SOFR + 2.28% thereafter)(6) | 90,085 | |
| 235,000 | Royal Bank of Canada 5.20%, 08/01/2028 | 226,620 | |
| 610,000 | Societe Generale SA 6.22%, 06/15/2033, (6.22% fixed rate until 06/15/2032; 1 yr. USD CMT + 3.20% thereafter)(1)(6) | 538,315 | |
| 200,000 | Standard Chartered PLC 7.77%, 11/16/2028, (7.77% fixed rate until 11/16/2027; 1 yr. USD CMT + 3.45% thereafter)(1)(6) | 206,526 | |
| UBS Group AG | |||
| 205,000 | 4.75%, 05/12/2028, (4.75% fixed rate until 05/12/2027; 1 yr. USD CMT + 1.75% thereafter)(1)(6) | 192,519 | |
| 200,000 | 6.25%, 09/22/2029, (6.25% fixed rate until 09/22/2028; 1 yr. USD CMT + 1.80% thereafter)(1)(6) | 196,068 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Commercial Banks - 8.2% - (continued) | |||
| $ 250,000 | 6.44%, 08/11/2028, (6.44% fixed rate until 08/11/2027; 6 mo. USD SOFR + 3.70% thereafter)(1)(6) | $ 247,489 | |
| 530,000 | 6.54%, 08/12/2033, (6.54% fixed rate until 08/12/2032; 6 mo. USD SOFR + 3.92% thereafter)(1)(6) | 510,172 | |
| Wells Fargo & Co. | |||
| 159,000 | 2.41%, 10/30/2025, (2.41% fixed rate until 10/30/2024; 3 mo. USD Term SOFR + 1.09% thereafter)(6) | 152,562 | |
| 295,000 | 2.57%, 02/11/2031, (2.57% fixed rate until 02/11/2030; 3 mo. USD Term SOFR + 1.26% thereafter)(6) | 234,031 | |
| 295,000 | 2.88%, 10/30/2030, (2.88% fixed rate until 10/30/2029; 3 mo. USD Term SOFR + 1.43% thereafter)(6) | 241,399 | |
| 185,000 | 3.35%, 03/02/2033, (3.35% fixed rate until 03/02/2032; 6 mo. USD SOFR + 1.50% thereafter)(6) | 146,048 | |
| 165,000 | 4.81%, 07/25/2028, (4.81% fixed rate until 07/25/2027; 6 mo. USD SOFR + 1.98% thereafter)(6) | 156,157 | |
| 280,000 | 4.90%, 07/25/2033, (4.90% fixed rate until 07/25/2032; 6 mo. USD SOFR + 2.10% thereafter)(6) | 246,667 | |
| 161,000 | 5.01%, 04/04/2051, (5.01% fixed rate until 04/04/2050; 3 mo. USD Term SOFR + 4.50% thereafter)(6) | 128,533 | |
| 120,000 | 5.39%, 04/24/2034, (5.39% fixed rate until 04/24/2033; 6 mo. USD SOFR + 2.02% thereafter)(6) | 108,881 | |
| 615,000 | 5.57%, 07/25/2029, (5.57% fixed rate until 07/25/2028; 2 mo. USD SOFR + 1.74% thereafter)(6) | 592,680 | |
| 100,000 | 6.49%, 10/23/2034, (6.49% fixed rate until 10/23/2033; 6 mo. USD SOFR + 2.06% thereafter)(6) | 98,437 | |
| 20,164,467 | |||
| Commercial Services - 0.0% | |||
| Howard University | |||
| 100,000 | 2.90%, 10/01/2031 | 80,214 | |
| 70,000 | 3.48%, 10/01/2041 | 46,348 | |
| 126,562 | |||
| Diversified Financial Services - 0.8% | |||
| American Express Co. | |||
| 110,000 | 5.04%, 05/01/2034, (5.04% fixed rate until 05/01/2033; 3 mo. USD SOFR + 1.84% thereafter)(6) | 98,968 | |
| 375,000 | 6.34%, 10/30/2026, (6.34% fixed rate until 10/30/2025; 6 mo. USD SOFR + 1.33% thereafter)(6) | 376,084 | |
| Capital One Financial Corp. | |||
| 40,000 | 1.88%, 11/02/2027, (1.88% fixed rate until 11/02/2026; 6 mo. USD SOFR + 0.86% thereafter)(6) | 34,317 | |
| 225,000 | 3.27%, 03/01/2030, (3.27% fixed rate until 03/01/2029; 6 mo. USD SOFR + 1.79% thereafter)(6) | 184,618 | |
| 70,000 | 3.75%, 03/09/2027 | 63,197 | |
| 205,000 | 5.25%, 07/26/2030, (5.25% fixed rate until 07/26/2029; 6 mo. USD SOFR + 2.60% thereafter)(6) | 184,299 | |
| 6 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Diversified Financial Services - 0.8% - (continued) | |||
| $ 45,000 | 5.47%, 02/01/2029, (5.47% fixed rate until 02/01/2028; 6 mo. USD SOFR + 2.08% thereafter)(6) | $ 41,886 | |
| 75,000 | 5.82%, 02/01/2034, (5.82% fixed rate until 02/01/2033; 6 mo. USD SOFR + 2.60% thereafter)(6) | 66,063 | |
| 300,000 | 6.31%, 06/08/2029, (6.31% fixed rate until 06/08/2028; 6 mo. USD SOFR + 2.64% thereafter)(6) | 287,378 | |
| 205,000 | 6.38%, 06/08/2034, (6.38% fixed rate until 06/08/2033; 6 mo. USD SOFR + 2.86% thereafter)(6) | 187,532 | |
| 120,000 | 7.62%, 10/30/2031, (7.62% fixed rate until 10/30/2030; 6 mo. USD SOFR + 3.07% thereafter)(6) | 120,088 | |
| 230,000 | Nasdaq, Inc. 5.55%, 02/15/2034 | 213,545 | |
| 1,857,975 | |||
| Electric - 5.4% | |||
| Alabama Power Co. | |||
| 100,000 | 3.45%, 10/01/2049 | 63,313 | |
| 42,000 | 4.15%, 08/15/2044 | 30,766 | |
| Arizona Public Service Co. | |||
| 85,000 | 5.55%, 08/01/2033 | 80,029 | |
| 40,000 | 6.35%, 12/15/2032 | 39,967 | |
| 195,000 | Berkshire Hathaway Energy Co. 4.60%, 05/01/2053 | 145,431 | |
| 250,000 | CenterPoint Energy, Inc. 5.25%, 08/10/2026 | 246,182 | |
| 125,000 | Cleco Corporate Holdings LLC 3.38%, 09/15/2029 | 103,325 | |
| 195,000 | Consolidated Edison Co. of New York, Inc. 3.20%, 12/01/2051 | 114,801 | |
| Dominion Energy, Inc. | |||
| 119,000 | 3.38%, 04/01/2030 | 100,236 | |
| 521,000 | 5.38%, 11/15/2032 | 483,466 | |
| 10,000 | 6.30%, 03/15/2033 | 9,758 | |
| Duke Energy Corp. | |||
| 70,000 | 2.45%, 06/01/2030 | 55,883 | |
| 1,245,000 | 2.55%, 06/15/2031 | 961,508 | |
| 120,000 | 3.75%, 09/01/2046 | 78,609 | |
| 215,000 | 4.50%, 08/15/2032 | 188,236 | |
| 65,000 | 5.00%, 08/15/2052 | 50,873 | |
| 82,000 | Duke Energy Indiana LLC 3.25%, 10/01/2049 | 49,355 | |
| Edison International | |||
| 95,000 | 4.13%, 03/15/2028 | 86,458 | |
| 160,000 | 5.25%, 11/15/2028 | 152,021 | |
| 60,000 | 6.95%, 11/15/2029 | 61,035 | |
| 205,000 | Enel Finance International NV 5.00%, 06/15/2032(1) | 180,516 | |
| 314,000 | Evergy, Inc. 2.90%, 09/15/2029 | 263,735 | |
| Eversource Energy | |||
| 30,000 | 4.75%, 05/15/2026 | 29,168 | |
| 445,000 | 5.13%, 05/15/2033 | 403,099 | |
| 315,000 | 5.45%, 03/01/2028 | 307,665 | |
| 225,000 | Exelon Corp. 5.15%, 03/15/2028 | 218,398 | |
| 250,000 | Florida Power & Light Co. 4.63%, 05/15/2030 | 233,963 | |
| Georgia Power Co. | |||
| 71,000 | 4.30%, 03/15/2042 | 54,585 | |
| 325,000 | 4.65%, 05/16/2028 | 310,633 | |
| 55,000 | 4.70%, 05/15/2032 | 49,906 | |
| 150,000 | 4.95%, 05/17/2033 | 137,216 | |
| 172,000 | ITC Holdings Corp. 2.95%, 05/14/2030(1) | 140,789 | |
| 100,000 | Louisville Gas & Electric Co. 5.45%, 04/15/2033 | 95,780 | |
| 15,000 | Metropolitan Edison Co. 5.20%, 04/01/2028(1) | 14,480 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Electric - 5.4% - (continued) | |||
| $ 120,000 | Monongahela Power Co. 5.85%, 02/15/2034(1) | $ 114,589 | |
| 295,000 | National Grid PLC 5.60%, 06/12/2028 | 288,155 | |
| National Rural Utilities Cooperative Finance Corp. | |||
| 235,000 | 4.15%, 12/15/2032 | 203,031 | |
| 65,000 | 5.80%, 01/15/2033 | 62,993 | |
| NextEra Energy Capital Holdings, Inc. | |||
| 539,000 | 2.25%, 06/01/2030 | 420,719 | |
| 445,000 | 4.63%, 07/15/2027 | 424,286 | |
| 60,000 | 5.05%, 02/28/2033 | 54,577 | |
| 125,000 | 5.75%, 09/01/2025 | 124,399 | |
| 184,000 | Oglethorpe Power Corp. 5.05%, 10/01/2048 | 143,494 | |
| 115,000 | Ohio Edison Co. 5.50%, 01/15/2033(1) | 107,155 | |
| 230,000 | Ohio Power Co. 5.00%, 06/01/2033 | 209,799 | |
| Pacific Gas & Electric Co. | |||
| 875,000 | 2.50%, 02/01/2031 | 649,709 | |
| 175,000 | 3.25%, 06/01/2031 | 136,107 | |
| 270,000 | 4.55%, 07/01/2030 | 234,001 | |
| 85,000 | 4.95%, 07/01/2050 | 59,680 | |
| 530,000 | 5.45%, 06/15/2027 | 506,592 | |
| 420,000 | 6.10%, 01/15/2029 | 404,301 | |
| 275,000 | 6.15%, 01/15/2033 | 253,627 | |
| 430,000 | 6.40%, 06/15/2033 | 404,367 | |
| 10,000 | Pennsylvania Electric Co. 5.15%, 03/30/2026(1) | 9,778 | |
| 65,000 | PPL Capital Funding, Inc. 4.13%, 04/15/2030 | 57,569 | |
| 324,000 | Puget Energy, Inc. 3.65%, 05/15/2025 | 310,963 | |
| 47,000 | Sempra 3.40%, 02/01/2028 | 42,374 | |
| Southern California Edison Co. | |||
| 232,000 | 2.25%, 06/01/2030 | 183,245 | |
| 75,000 | 2.75%, 02/01/2032 | 58,489 | |
| 72,000 | 2.85%, 08/01/2029 | 61,225 | |
| 166,000 | 3.65%, 02/01/2050 | 106,154 | |
| 2,000 | 4.00%, 04/01/2047 | 1,378 | |
| 295,000 | 4.90%, 06/01/2026 | 287,843 | |
| 100,000 | 5.30%, 03/01/2028 | 97,812 | |
| 75,000 | 5.85%, 11/01/2027 | 75,009 | |
| Southern Co. | |||
| 4,000 | 3.25%, 07/01/2026 | 3,738 | |
| 368,000 | 3.70%, 04/30/2030 | 319,654 | |
| 410,000 | 4.85%, 06/15/2028 | 391,932 | |
| 160,000 | 5.20%, 06/15/2033 | 147,393 | |
| 90,000 | 5.70%, 03/15/2034 | 85,813 | |
| 235,000 | Southwestern Electric Power Co. 5.30%, 04/01/2033 | 216,925 | |
| Virginia Electric & Power Co. | |||
| 62,000 | 2.45%, 12/15/2050 | 31,386 | |
| 310,000 | 5.00%, 04/01/2033 | 283,093 | |
| 100,000 | Xcel Energy, Inc. 4.60%, 06/01/2032 | 88,567 | |
| 13,203,106 | |||
| Entertainment - 0.2% | |||
| Warnermedia Holdings, Inc. | |||
| 495,000 | 4.28%, 03/15/2032 | 411,529 | |
| 30,000 | 5.05%, 03/15/2042 | 22,337 | |
| 195,000 | 5.14%, 03/15/2052 | 138,572 | |
| 572,438 | |||
| Environmental Control - 0.1% | |||
| 270,000 | Waste Management, Inc. 4.88%, 02/15/2029 | 260,348 | |
| Food - 0.3% | |||
| Conagra Brands, Inc. | |||
| 337,000 | 4.85%, 11/01/2028 | 316,804 | |
| 7 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Food - 0.3% - (continued) | |||
| $ 270,000 | 5.30%, 10/01/2026 | $ 265,358 | |
| 65,000 | General Mills, Inc. 4.95%, 03/29/2033 | 59,159 | |
| 641,321 | |||
| Gas - 1.0% | |||
| 55,000 | Atmos Energy Corp. 5.90%, 11/15/2033 | 54,302 | |
| 65,000 | Boston Gas Co. 3.76%, 03/16/2032(1) | 53,190 | |
| 325,000 | Brooklyn Union Gas Co. 4.87%, 08/05/2032(1) | 282,368 | |
| 145,000 | KeySpan Gas East Corp. 5.99%, 03/06/2033(1) | 136,628 | |
| NiSource, Inc. | |||
| 75,000 | 1.70%, 02/15/2031 | 55,050 | |
| 317,000 | 3.49%, 05/15/2027 | 291,836 | |
| 327,000 | 3.60%, 05/01/2030 | 280,348 | |
| 250,000 | 5.25%, 03/30/2028 | 242,837 | |
| 115,000 | 5.40%, 06/30/2033 | 107,246 | |
| Southern California Gas Co. | |||
| 655,000 | 5.20%, 06/01/2033 | 606,542 | |
| 25,000 | 5.75%, 06/01/2053 | 22,255 | |
| 50,000 | Southern Co. Gas Capital Corp. 5.75%, 09/15/2033 | 47,697 | |
| 209,000 | Southwest Gas Corp. 2.20%, 06/15/2030 | 162,168 | |
| 2,342,467 | |||
| Hand/Machine Tools - 0.2% | |||
| Regal Rexnord Corp. | |||
| 445,000 | 6.05%, 04/15/2028(1) | 426,143 | |
| 55,000 | 6.30%, 02/15/2030(1) | 51,870 | |
| 478,013 | |||
| Healthcare - Products - 0.3% | |||
| 400,000 | Alcon Finance Corp. 3.00%, 09/23/2029(1) | 339,812 | |
| 295,000 | GE HealthCare Technologies, Inc. 5.86%, 03/15/2030 | 288,496 | |
| 628,308 | |||
| Healthcare - Services - 0.4% | |||
| 117,000 | CommonSpirit Health 2.76%, 10/01/2024 | 113,607 | |
| 228,000 | Humana, Inc. 3.70%, 03/23/2029 | 206,329 | |
| 225,000 | Kaiser Foundation Hospitals 2.81%, 06/01/2041 | 145,417 | |
| 25,000 | Sutter Health 3.36%, 08/15/2050 | 15,595 | |
| UnitedHealth Group, Inc. | |||
| 87,000 | 4.75%, 07/15/2045 | 71,793 | |
| 35,000 | 4.95%, 05/15/2062 | 28,617 | |
| 277,000 | 5.30%, 02/15/2030 | 272,387 | |
| 95,000 | 5.35%, 02/15/2033 | 91,504 | |
| 55,000 | 5.88%, 02/15/2053 | 52,349 | |
| 65,000 | 6.05%, 02/15/2063 | 62,361 | |
| 1,059,959 | |||
| Household Products - 0.2% | |||
| Estee Lauder Cos., Inc. | |||
| 225,000 | 4.38%, 05/15/2028 | 214,942 | |
| 105,000 | 4.65%, 05/15/2033 | 95,664 | |
| 45,000 | 5.15%, 05/15/2053 | 38,848 | |
| 245,000 | Kenvue, Inc. 5.50%, 03/22/2025 | 244,583 | |
| 594,037 | |||
| Insurance - 1.0% | |||
| 40,000 | Aon Corp. 2.80%, 05/15/2030 | 32,696 | |
| 65,000 | Aon Corp./Aon Global Holdings PLC 5.35%, 02/28/2033 | 60,711 | |
| 350,000 | Athene Global Funding 2.65%, 10/04/2031(1) | 257,769 | |
| 290,000 | Brighthouse Financial Global Funding 1.75%, 01/13/2025(1) | 274,379 | |
| Corebridge Financial, Inc. | |||
| 170,000 | 3.85%, 04/05/2029 | 150,319 | |
| 50,000 | 6.05%, 09/15/2033(1) | 47,031 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Insurance - 1.0% - (continued) | |||
| $ 50,000 | Corebridge Global Funding 5.90%, 09/19/2028(1) | $ 49,415 | |
| 415,000 | Equitable Financial Life Global Funding 1.80%, 03/08/2028(1) | 343,419 | |
| 180,000 | Marsh & McLennan Cos., Inc. 4.75%, 03/15/2039 | 153,792 | |
| 190,000 | MetLife, Inc. 5.38%, 07/15/2033 | 178,044 | |
| 470,000 | Metropolitan Life Global Funding I 2.40%, 01/11/2032(1) | 354,990 | |
| 190,000 | Principal Financial Group, Inc. 5.38%, 03/15/2033 | 177,967 | |
| 334,000 | Willis North America, Inc. 2.95%, 09/15/2029 | 280,197 | |
| 2,360,729 | |||
| Internet - 0.1% | |||
| 375,000 | Meta Platforms, Inc. 4.60%, 05/15/2028 | 363,673 | |
| Investment Company Security - 0.2% | |||
| 525,000 | Bain Capital Specialty Finance, Inc. 2.55%, 10/13/2026 | 451,086 | |
| IT Services - 0.1% | |||
| 250,000 | Apple, Inc. 4.15%, 05/10/2030 | 235,582 | |
| Machinery-Diversified - 0.2% | |||
| 65,000 | Ingersoll Rand, Inc. 5.70%, 08/14/2033 | 61,545 | |
| 481,000 | Otis Worldwide Corp. 2.57%, 02/15/2030 | 391,850 | |
| 453,395 | |||
| Media - 1.3% | |||
| Charter Communications Operating LLC/Charter Communications Operating Capital | |||
| 40,000 | 3.50%, 03/01/2042 | 23,735 | |
| 185,000 | 3.90%, 06/01/2052 | 104,879 | |
| 482,000 | 4.20%, 03/15/2028 | 438,780 | |
| 380,000 | 4.40%, 12/01/2061 | 222,641 | |
| 95,000 | 4.80%, 03/01/2050 | 62,985 | |
| 68,000 | 5.13%, 07/01/2049 | 47,304 | |
| Comcast Corp. | |||
| 434,000 | 3.20%, 07/15/2036 | 321,277 | |
| 150,000 | 3.75%, 04/01/2040 | 110,750 | |
| 425,000 | 4.55%, 01/15/2029 | 403,658 | |
| 315,000 | 4.80%, 05/15/2033 | 287,940 | |
| 190,000 | Cox Communications, Inc. 2.60%, 06/15/2031(1) | 145,937 | |
| Discovery Communications LLC | |||
| 105,000 | 3.63%, 05/15/2030 | 87,596 | |
| 23,000 | 4.13%, 05/15/2029 | 20,260 | |
| 135,000 | 4.65%, 05/15/2050 | 89,326 | |
| 472,000 | 5.20%, 09/20/2047 | 339,746 | |
| 70,000 | 5.30%, 05/15/2049 | 50,704 | |
| Paramount Global | |||
| 250,000 | 4.20%, 05/19/2032 | 193,519 | |
| 165,000 | 4.38%, 03/15/2043 | 99,444 | |
| 256,000 | 4.95%, 01/15/2031(7) | 214,154 | |
| 57,000 | 5.85%, 09/01/2043 | 41,320 | |
| 3,305,955 | |||
| Mining - 0.4% | |||
| 260,000 | Anglo American Capital PLC 3.88%, 03/16/2029(1) | 230,421 | |
| 175,000 | BHP Billiton Finance USA Ltd. 4.90%, 02/28/2033 | 162,194 | |
| 200,000 | Corp. Nacional del Cobre de Chile 5.95%, 01/08/2034(1) | 185,608 | |
| Glencore Funding LLC | |||
| 125,000 | 2.85%, 04/27/2031(1) | 97,226 | |
| 8 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Mining - 0.4% - (continued) | |||
| $ 160,000 | 5.70%, 05/08/2033(1) | $ 148,779 | |
| 270,000 | 6.38%, 10/06/2030(1) | 264,867 | |
| 1,089,095 | |||
| Office/Business Equipment - 0.1% | |||
| CDW LLC/CDW Finance Corp. | |||
| 80,000 | 2.67%, 12/01/2026 | 71,559 | |
| 70,000 | 3.57%, 12/01/2031 | 56,181 | |
| 127,740 | |||
| Oil & Gas - 1.0% | |||
| BP Capital Markets America, Inc. | |||
| 95,000 | 2.72%, 01/12/2032 | 75,613 | |
| 130,000 | 3.38%, 02/08/2061 | 77,488 | |
| 12,000 | 3.63%, 04/06/2030 | 10,614 | |
| 225,000 | 4.81%, 02/13/2033 | 206,098 | |
| 165,000 | 4.89%, 09/11/2033 | 151,429 | |
| 65,000 | Canadian Natural Resources Ltd. 2.95%, 07/15/2030 | 53,097 | |
| ConocoPhillips Co. | |||
| 120,000 | 3.80%, 03/15/2052 | 82,310 | |
| 190,000 | 5.05%, 09/15/2033 | 177,440 | |
| 75,000 | 5.70%, 09/15/2063 | 67,393 | |
| 100,000 | Diamondback Energy, Inc. 6.25%, 03/15/2033 | 98,908 | |
| Equinor ASA | |||
| 232,000 | 3.63%, 04/06/2040 | 172,631 | |
| 46,000 | 3.70%, 04/06/2050 | 32,049 | |
| 201,000 | Hess Corp. 7.30%, 08/15/2031 | 217,326 | |
| Occidental Petroleum Corp. | |||
| 65,000 | 6.13%, 01/01/2031 | 63,567 | |
| 75,000 | 6.45%, 09/15/2036 | 72,852 | |
| 105,000 | 6.63%, 09/01/2030 | 105,321 | |
| Ovintiv, Inc. | |||
| 45,000 | 5.65%, 05/15/2028 | 43,712 | |
| 100,000 | 6.25%, 07/15/2033 | 95,109 | |
| 60,000 | 7.38%, 11/01/2031 | 61,660 | |
| 165,000 | Phillips 66 Co. 4.95%, 12/01/2027 | 160,356 | |
| 285,000 | Pioneer Natural Resources Co. 5.10%, 03/29/2026 | 281,825 | |
| Shell International Finance BV | |||
| 190,000 | 3.00%, 11/26/2051 | 112,851 | |
| 175,000 | 3.25%, 04/06/2050 | 111,111 | |
| 2,530,760 | |||
| Oil & Gas Services - 0.1% | |||
| 195,000 | Schlumberger Investment SA 4.85%, 05/15/2033 | 179,907 | |
| Pharmaceuticals - 0.5% | |||
| 173,000 | AbbVie, Inc. 3.20%, 11/21/2029 | 150,883 | |
| CVS Health Corp. | |||
| 7,000 | 4.13%, 04/01/2040 | 5,207 | |
| 325,000 | 5.00%, 01/30/2029 | 311,291 | |
| 251,000 | 5.13%, 02/21/2030 | 237,384 | |
| 75,000 | 5.25%, 02/21/2033 | 69,317 | |
| 225,000 | McKesson Corp. 5.10%, 07/15/2033 | 209,658 | |
| 250,000 | Pfizer Investment Enterprises Pte. Ltd. 4.45%, 05/19/2028 | 239,096 | |
| 1,222,836 | |||
| Pipelines - 1.5% | |||
| 115,000 | Cheniere Energy Partners LP 4.50%, 10/01/2029 | 102,932 | |
| 100,000 | Columbia Pipelines Holding Co. LLC 6.04%, 08/15/2028(1) | 98,317 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Pipelines - 1.5% - (continued) | |||
| Columbia Pipelines Operating Co. LLC | |||
| $ 30,000 | 5.93%, 08/15/2030(1) | $ 29,005 | |
| 170,000 | 6.04%, 11/15/2033(1) | 161,739 | |
| 55,000 | 6.54%, 11/15/2053(1) | 50,853 | |
| Enbridge, Inc. | |||
| 100,000 | 2.50%, 08/01/2033 | 72,317 | |
| 395,000 | 5.70%, 03/08/2033 | 370,014 | |
| Energy Transfer LP | |||
| 75,000 | 5.25%, 04/15/2029 | 71,245 | |
| 107,000 | 5.30%, 04/01/2044 | 84,487 | |
| 165,000 | 6.05%, 12/01/2026 | 164,658 | |
| 60,000 | 6.10%, 12/01/2028 | 59,270 | |
| 335,000 | 6.40%, 12/01/2030 | 331,411 | |
| 70,000 | Enterprise Products Operating LLC 2.80%, 01/31/2030 | 58,568 | |
| 350,000 | Greensaif Pipelines Bidco SARL 6.13%, 02/23/2038(1) | 325,834 | |
| MPLX LP | |||
| 165,000 | 2.65%, 08/15/2030 | 130,697 | |
| 125,000 | 4.95%, 09/01/2032 | 111,201 | |
| 55,000 | 5.20%, 03/01/2047 | 42,788 | |
| 62,000 | 5.20%, 12/01/2047 | 47,998 | |
| ONEOK, Inc. | |||
| 180,000 | 3.10%, 03/15/2030 | 148,736 | |
| 35,000 | 3.40%, 09/01/2029 | 29,978 | |
| 95,000 | 4.35%, 03/15/2029 | 86,356 | |
| 80,000 | 6.10%, 11/15/2032 | 77,251 | |
| 60,000 | Plains All American Pipeline LP/PAA Finance Corp. 3.55%, 12/15/2029 | 51,027 | |
| 165,000 | Sabine Pass Liquefaction LLC 4.50%, 05/15/2030 | 148,245 | |
| 35,000 | Targa Resources Corp. 6.13%, 03/15/2033 | 33,585 | |
| 410,000 | Targa Resources Partners LP/Targa Resources Partners Finance Corp. 4.00%, 01/15/2032 | 336,229 | |
| 95,000 | Transcontinental Gas Pipe Line Co. LLC 3.25%, 05/15/2030 | 79,696 | |
| 65,000 | Western Midstream Operating LP 4.05%, 02/01/2030 | 56,359 | |
| Williams Cos., Inc. | |||
| 100,000 | 2.60%, 03/15/2031 | 78,121 | |
| 180,000 | 4.65%, 08/15/2032 | 158,916 | |
| 194,000 | 5.65%, 03/15/2033 | 183,417 | |
| 3,781,250 | |||
| Real Estate Investment Trusts - 0.8% | |||
| American Tower Corp. | |||
| 195,000 | 3.65%, 03/15/2027 | 179,616 | |
| 260,000 | 3.80%, 08/15/2029 | 227,766 | |
| 275,000 | 5.25%, 07/15/2028 | 262,457 | |
| 160,000 | 5.80%, 11/15/2028 | 156,460 | |
| Crown Castle, Inc. | |||
| 40,000 | 2.50%, 07/15/2031 | 30,271 | |
| 175,000 | 3.80%, 02/15/2028 | 157,905 | |
| 330,000 | 4.80%, 09/01/2028 | 308,513 | |
| 290,000 | Equinix, Inc. 3.20%, 11/18/2029 | 245,218 | |
| 155,000 | GLP Capital LP/GLP Financing II, Inc. 5.30%, 01/15/2029 | 141,606 | |
| VICI Properties LP | |||
| 50,000 | 4.95%, 02/15/2030 | 44,574 | |
| 290,000 | 5.13%, 05/15/2032 | 250,811 | |
| 2,005,197 | |||
| Retail - 0.3% | |||
| 225,000 | AutoZone, Inc. 6.55%, 11/01/2033 | 226,187 | |
| 9 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 29.5% - (continued) | |||
| Retail - 0.3% - (continued) | |||
| $ 180,000 | Lowe's Cos., Inc. 4.80%, 04/01/2026 | $ 176,258 | |
| 345,000 | O'Reilly Automotive, Inc. 4.70%, 06/15/2032 | 309,627 | |
| 712,072 | |||
| Semiconductors - 0.4% | |||
| 293,000 | Broadcom, Inc. 3.19%, 11/15/2036(1) | 203,468 | |
| Intel Corp. | |||
| 193,000 | 3.25%, 11/15/2049 | 117,231 | |
| 25,000 | 5.70%, 02/10/2053 | 22,497 | |
| 55,000 | 5.90%, 02/10/2063 | 49,959 | |
| Marvell Technology, Inc. | |||
| 50,000 | 2.95%, 04/15/2031 | 39,546 | |
| 175,000 | 5.75%, 02/15/2029 | 170,224 | |
| 70,000 | 5.95%, 09/15/2033 | 66,543 | |
| 205,000 | NVIDIA Corp. 3.50%, 04/01/2040 | 154,208 | |
| 264,000 | NXP BV/NXP Funding LLC/NXP USA, Inc. 4.30%, 06/18/2029 | 238,431 | |
| 1,062,107 | |||
| Software - 0.4% | |||
| Oracle Corp. | |||
| 70,000 | 2.95%, 04/01/2030 | 58,099 | |
| 219,000 | 3.60%, 04/01/2040 | 151,190 | |
| 67,000 | 3.80%, 11/15/2037 | 49,476 | |
| 575,000 | 5.38%, 07/15/2040 | 491,443 | |
| 211,000 | 6.15%, 11/09/2029 | 211,819 | |
| 962,027 | |||
| Telecommunications - 1.0% | |||
| AT&T, Inc. | |||
| 685,000 | 2.55%, 12/01/2033 | 492,921 | |
| 140,000 | 3.50%, 06/01/2041 | 93,914 | |
| 49,000 | 3.65%, 09/15/2059 | 28,557 | |
| 170,000 | 5.40%, 02/15/2034 | 156,341 | |
| 245,000 | 5.54%, 02/20/2026 | 243,014 | |
| 160,000 | Rogers Communications, Inc. 3.80%, 03/15/2032 | 130,021 | |
| T-Mobile USA, Inc. | |||
| 55,000 | 2.05%, 02/15/2028 | 46,912 | |
| 280,000 | 3.00%, 02/15/2041 | 177,633 | |
| 275,000 | 3.88%, 04/15/2030 | 239,819 | |
| 225,000 | 4.80%, 07/15/2028 | 214,186 | |
| 30,000 | 5.05%, 07/15/2033 | 27,175 | |
| 150,000 | 5.75%, 01/15/2034 | 142,652 | |
| Verizon Communications, Inc. | |||
| 170,000 | 2.36%, 03/15/2032 | 127,474 | |
| 273,000 | 2.55%, 03/21/2031 | 213,686 | |
| 105,000 | 2.65%, 11/20/2040 | 63,642 | |
| 50,000 | 3.85%, 11/01/2042 | 35,544 | |
| 2,433,491 | |||
| Trucking & Leasing - 0.5% | |||
| 455,000 | DAE Funding LLC 1.55%, 08/01/2024(1) | 437,493 | |
| Penske Truck Leasing Co. LP/PTL Finance Corp. | |||
| 225,000 | 4.40%, 07/01/2027(1) | 209,442 | |
| 250,000 | 5.55%, 05/01/2028(1) | 240,334 | |
| 80,000 | 5.75%, 05/24/2026(1) | 78,691 | |
| 75,000 | 6.05%, 08/01/2028(1) | 73,623 | |
| 150,000 | 6.20%, 06/15/2030(1) | 146,552 | |
| 1,186,135 | |||
| Total Corporate Bonds (cost $80,594,617) | $ 72,461,226 | ||
| Shares or Principal Amount | Market Value† | ||
| FOREIGN GOVERNMENT OBLIGATIONS - 0.7% | |||
| Bermuda - 0.2% | |||
| Bermuda Government International Bonds | |||
| $ 400,000 | 2.38%, 08/20/2030(8) | $ 316,560 | |
| 200,000 | 5.00%, 07/15/2032(8) | 181,562 | |
| 498,122 | |||
| Hungary - 0.1% | |||
| 255,000 | Hungary Government International Bonds 5.25%, 06/16/2029(1) | 240,210 | |
| Poland - 0.1% | |||
| 200,000 | Bank Gospodarstwa Krajowego 6.25%, 10/31/2028(1) | 202,304 | |
| Romania - 0.3% | |||
| Romania Government International Bonds | |||
| 312,000 | 3.00%, 02/27/2027(1) | 281,927 | |
| 466,000 | 3.00%, 02/14/2031(8) | 368,732 | |
| 650,659 | |||
| Saudi Arabia - 0.0% | |||
| 200,000 | Saudi Government International Bonds 5.00%, 01/18/2053(1) | 158,157 | |
| Total Foreign Government Obligations (cost $2,018,055) | $ 1,749,452 | ||
| MUNICIPAL BONDS - 0.8% | |||
| Airport - 0.1% | |||
| 205,000 | Dallas Fort Worth International Airport, TX, Rev 4.51%, 11/01/2051 | $ 164,177 | |
| Development - 0.1% | |||
| 345,000 | New York Transportation Dev Corp., NY, Rev 4.25%, 09/01/2035 | 322,873 | |
| General - 0.3% | |||
| 40,000 | Chicago Transit Auth Sales Tax Receipts Fund, IL, Rev 3.91%, 12/01/2040 | 31,103 | |
| 256,151 | Commonwealth of Massachusetts, MA, Rev 4.11%, 07/15/2031 | 246,007 | |
| County of Riverside, CA, Rev | |||
| 55,000 | 2.96%, 02/15/2027 | 50,963 | |
| 55,000 | 3.07%, 02/15/2028 | 50,117 | |
| 65,000 | Dist of Columbia, DC, Rev 3.43%, 04/01/2042 | 46,139 | |
| 230,000 | State Board of Administration Finance Corp., FL, Rev 1.26%, 07/01/2025 | 214,454 | |
| 638,783 | |||
| General Obligation - 0.1% | |||
| 180,000 | State of California, CA, GO 7.30%, 10/01/2039 | 198,431 | |
| Higher Education - 0.0% | |||
| Marshall University, WV, Rev, (AGM Insured) | |||
| 10,000 | 2.91%, 05/01/2026 | 9,423 | |
| 10,000 | 3.63%, 05/01/2034 | 8,315 | |
| 17,738 | |||
| Transportation - 0.1% | |||
| Metropolitan Transportation Auth, NY, Rev | |||
| 15,000 | 4.75%, 11/15/2045 | 13,770 | |
| 40,000 | 5.18%, 11/15/2049 | 32,828 | |
| 115,000 | 6.81%, 11/15/2040 | 115,790 | |
| 85,000 | New York State Thruway Auth, NY, Rev 2.90%, 01/01/2035 | 67,926 | |
| 230,314 | |||
| 10 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 0.8% - (continued) | |||
| Utilities - 0.1% | |||
| $ 325,000 | Texas Natural Gas Securitization Finance Corp., TX, Rev 5.10%, 04/01/2035 | $ 314,524 | |
| Total Municipal Bonds (cost $2,189,030) | $ 1,886,840 | ||
| U.S. GOVERNMENT AGENCIES - 36.1% | |||
| Mortgage-Backed Agencies - 36.1% | |||
| Federal Home Loan Mortgage Corp. - 6.3% | |||
| 228,348 | 0.88%, 11/25/2030(3)(4) | $ 10,552 | |
| 98,008 | 1.12%, 01/25/2030(3)(4) | 5,220 | |
| 1,406,495 | 1.12%, 06/25/2030(3)(4) | 80,632 | |
| 9,447 | 1.13%, 12/15/2027 | 8,824 | |
| 11,021 | 1.25%, 12/15/2027 | 10,287 | |
| 1,535,550 | 1.38%, 06/25/2030(3)(4) | 106,323 | |
| 1,093,930 | 1.43%, 05/25/2030(3)(4) | 79,069 | |
| 475,836 | 1.50%, 12/25/2050 | 354,939 | |
| 1,225,004 | 1.57%, 05/25/2030(3)(4) | 95,050 | |
| 173,944 | 1.70%, 04/25/2030(3)(4) | 14,091 | |
| 457,421 | 2.00%, 07/25/2050 | 367,250 | |
| 219,289 | 2.00%, 10/01/2051 | 162,188 | |
| 2,275,478 | 2.00%, 12/01/2051 | 1,682,328 | |
| 7,706,707 | 2.00%, 01/01/2052 | 5,689,495 | |
| 20,206 | 2.50%, 12/15/2042 | 17,254 | |
| 946,253 | 2.50%, 09/01/2051 | 729,384 | |
| 1,834,920 | 5.00%, 09/01/2052 | 1,694,016 | |
| 2,245,452 | 5.00%, 10/01/2052 | 2,072,849 | |
| 2,261,277 | 5.00%, 11/01/2052 | 2,092,046 | |
| 172,822 | 7.32%, 06/25/2043, 30 day USD SOFR Average + 2.00%(1)(2) | 173,261 | |
| 44,393 | 7.97%, 07/25/2042, 30 day USD SOFR Average + 2.65%(1)(2) | 45,162 | |
| 15,490,220 | |||
| Federal National Mortgage Association - 5.6% | |||
| 45,979 | 1.25%, 02/25/2028 | 42,802 | |
| 9,768 | 1.50%, 09/25/2027 | 9,165 | |
| 141,456 | 2.00%, 10/01/2051 | 104,487 | |
| 490,409 | 2.00%, 11/01/2051 | 360,591 | |
| 5,665,261 | 2.00%, 04/01/2052 | 4,167,204 | |
| 944,076 | 2.50%, 02/01/2052 | 725,484 | |
| 1,247,906 | 2.50%, 05/01/2052 | 959,087 | |
| 999,701 | 2.50%, 06/01/2052 | 768,435 | |
| 941,996 | 2.50%, 07/01/2052 | 724,027 | |
| 789,180 | 2.50%, 08/01/2052 | 606,565 | |
| 282,000 | 3.00%, 12/25/2045 | 217,816 | |
| 384,134 | 3.00%, 10/25/2046 | 320,088 | |
| 313,000 | 3.00%, 03/25/2047 | 242,330 | |
| 191,699 | 3.00%, 03/01/2050 | 154,897 | |
| 1,940,196 | 3.00%, 11/01/2051 | 1,559,728 | |
| 506,733 | 3.50%, 11/25/2042 | 440,921 | |
| 735,000 | 4.50%, 12/25/2041 | 659,843 | |
| 1,827,444 | 5.00%, 09/01/2052 | 1,687,113 | |
| 13,750,583 | |||
| Government National Mortgage Association - 7.2% | |||
| 2,300,000 | 2.00%, 11/20/2053(9) | 1,776,391 | |
| 2,128,850 | 2.50%, 03/20/2051 | 1,698,621 | |
| 1,275,000 | 2.50%, 11/20/2053(9) | 1,016,014 | |
| 2,222,515 | 3.00%, 10/20/2051 | 1,838,457 | |
| 2,400,000 | 3.00%, 11/20/2053(9) | 1,981,125 | |
| 3,306,326 | 3.50%, 08/20/2052 | 2,820,493 | |
| 3,000,000 | 4.00%, 11/20/2053(9) | 2,638,572 | |
| 4,200,000 | 5.00%, 11/20/2053(9) | 3,908,696 | |
| 17,678,369 | |||
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT AGENCIES - 36.1% - (continued) | |||
| Mortgage-Backed Agencies - 36.1% - (continued) | |||
| Uniform Mortgage-Backed Security - 17.0% | |||
| $ 2,600,000 | 1.50%, 11/01/2038(9) | $ 2,136,262 | |
| 300,000 | 1.50%, 11/01/2053(9) | 208,547 | |
| 1,300,000 | 2.50%, 11/01/2038(9) | 1,132,320 | |
| 613,000 | 2.50%, 11/01/2053(9) | 470,525 | |
| 750,000 | 3.00%, 11/01/2038(9) | 669,961 | |
| 3,450,000 | 4.00%, 11/13/2053(9) | 2,983,820 | |
| 9,847,000 | 4.50%, 11/13/2053(9) | 8,803,557 | |
| 1,150,000 | 5.00%, 11/13/2053(9) | 1,060,625 | |
| 12,610,000 | 5.50%, 11/13/2053(9) | 11,968,542 | |
| 12,600,000 | 6.00%, 11/01/2053(9) | 12,262,559 | |
| 41,696,718 | |||
| Total U.S. Government Agencies (cost $93,867,589) | $ 88,615,890 | ||
| U.S. GOVERNMENT SECURITIES - 29.3% | |||
| U.S. Treasury Securities - 29.3% | |||
| U.S. Treasury Bonds - 9.6% | |||
| 1,570,000 | 1.25%, 05/15/2050 | $ 697,362 | |
| 1,495,000 | 1.38%, 11/15/2040 | 847,420 | |
| 1,010,000 | 1.38%, 08/15/2050 | 464,245 | |
| 2,455,000 | 1.63%, 11/15/2050 | 1,213,307 | |
| 630,000 | 2.00%, 02/15/2050 | 347,878 | |
| 1,248,000 | 2.38%, 11/15/2049 | 756,064 | |
| 1,105,000 | 2.50%, 02/15/2045 | 717,689 | |
| 1,935,000 | 2.88%, 05/15/2052 | 1,301,514 | |
| 7,170,000 | 3.00%, 02/15/2047 | 5,018,720 | |
| 1,525,000 | 3.00%, 02/15/2048 | 1,060,649 | |
| 4,420,000 | 3.00%, 08/15/2052 | 3,055,498 | |
| 2,095,000 | 3.13%, 02/15/2043 | 1,558,320 | |
| 400,000 | 3.13%, 05/15/2048 | 284,797 | |
| 1,780,000 | 3.38%, 08/15/2042 | 1,384,645 | |
| 1,825,000 | 3.63%, 08/15/2043 | 1,463,921 | |
| 1,840,000 | 3.63%, 02/15/2044 | 1,469,341 | |
| 1,464,000 | 3.75%, 11/15/2043 | 1,194,818 | |
| 275,000 | 3.88%, 08/15/2040 | 234,727 | |
| 725,000 | 4.13%, 08/15/2053 | 624,973 | |
| 23,695,888 | |||
| U.S. Treasury Inflation-Protected Bonds - 0.6% | |||
| 444,416 | 0.13%, 02/15/2052(10) | 232,225 | |
| 2,059,719 | 0.25%, 02/15/2050(10) | 1,153,644 | |
| 1,385,869 | |||
| U.S. Treasury Inflation-Protected Notes - 1.6% | |||
| 2,310,231 | 0.25%, 07/15/2029(10) | 2,045,998 | |
| 1,950,621 | 0.75%, 07/15/2028(10) | 1,805,887 | |
| 3,851,885 | |||
| U.S. Treasury Notes - 17.5% | |||
| 1,480,000 | 0.50%, 02/28/2026 | 1,335,180 | |
| 5,260,000 | 0.50%, 04/30/2027 | 4,526,476 | |
| 1,345,000 | 0.75%, 04/30/2026 | 1,213,547 | |
| 2,042,000 | 1.50%, 01/31/2027 | 1,836,603 | |
| 1,695,000 | 1.75%, 01/31/2029 | 1,451,609 | |
| 4,565,000 | 2.75%, 08/15/2032 | 3,870,621 | |
| 12,105,000 | 2.88%, 05/15/2028(11)(12) | 11,138,964 | |
| 1,835,000 | 2.88%, 05/15/2032 | 1,578,028 | |
| 11 |
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT SECURITIES - 29.3% - (continued) | |||
| U.S. Treasury Securities - 29.3% - (continued) | |||
| U.S. Treasury Notes - 17.5% - (continued) | |||
| $ 4,585,000 | 4.00%, 07/31/2030 | $ 4,348,586 | |
| 11,920,000 | 4.13%, 09/30/2027 | 11,606,169 | |
| 42,905,783 | |||
| Total U.S. Government Securities (cost $90,140,947) | $ 71,839,425 | ||
| Total Long-Term Investments (cost $332,523,950) | $ 294,720,064 | ||
| SHORT-TERM INVESTMENTS - 0.4% | |||
| Repurchase Agreements - 0.3% | |||
| 648,548 | Fixed Income Clearing Corp. Repurchase Agreement dated 10/31/2023 at 5.28%, due on 11/01/2023 with a maturity value of $648,643; collateralized by U.S. Treasury Note at 0.75%, maturing 03/31/2026, with a market value of $661,539 | $ 648,548 | |
| Securities Lending Collateral - 0.1% | |||
| 59,089 | Goldman Sachs Financial Square Funds, Government Fund, Institutional Class, 5.26%(13) | 59,089 | |
| 196,965 | HSBC U.S. Government Money Market Fund, Institutional Class, 5.29%(13) | 196,965 | |
| 59,090 | Invesco Government & Agency Portfolio, Institutional Class, 5.28%(13) | 59,090 | |
| 59,090 | Morgan Stanley Institutional Liquidity Funds, Government Portfolio, Institutional Class, 5.26%(13) | 59,090 | |
| 374,234 | |||
| Total Short-Term Investments (cost $1,022,782) | $ 1,022,782 | ||
| Total Investments (cost $333,546,732) | 120.5% | $ 295,742,846 | |
| Other Assets and Liabilities | (20.5)% | (50,286,531) | |
| Total Net Assets | 100.0% | $ 245,456,315 | |
| Note: | Percentage of investments as shown is the ratio of the total market value to total net assets. |
| The Fund may refer to any one or more of the industry classifications used by one or more widely recognized market indices, ratings group and/or as defined by Fund management. Industry classifications may not be identical across all security types. |
| (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, 2023, the aggregate value of these securities was $63,056,113, representing 25.7% of net assets. |
| (2) | Variable rate securities; the rate reported is the coupon rate in effect at October 31, 2023. Base lending rates may be subject to a floor or cap. |
| (3) | Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| (4) | Securities disclosed are interest-only strips. |
| (5) | Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate. |
| (6) | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at October 31, 2023. Rate will reset at a future date. Base lending rates may be subject to a floor or cap. |
| (7) | Represents entire or partial securities on loan. |
| (8) | 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, 2023, the aggregate value of these securities was $866,854, representing 0.4% of net assets. |
| (9) | Represents or includes a TBA transaction. |
| (10) | The principal amount for these securities are adjusted for inflation and the interest payments equal a fixed percentage of the inflation-adjusted principal amount. |
| (11) | All, or a portion of the security, was pledged as collateral in connection with centrally cleared swap contracts. As of October 31, 2023, the market value of securities pledged was $487,704. |
| (12) | All, or a portion of the security, was pledged as collateral in connection with futures contracts. As of October 31, 2023, the market value of securities pledged was $524,511. |
| (13) | Current yield as of period end. |
| Futures Contracts Outstanding at October 31, 2023 | ||||||||
| Description | Number of Contracts | Expiration Date | Current Notional Amount | Value and Unrealized Appreciation/ (Depreciation) | ||||
| Long position contracts: | ||||||||
| U.S. Treasury 2-Year Note Future | 163 | 12/29/2023 | $ 32,994,766 | $ (85,237) | ||||
| U.S. Treasury Ultra Bond Future | 9 | 12/19/2023 | 1,013,062 | (18,889) | ||||
| Total | $ (104,126) | |||||||
| Short position contracts: | ||||||||
| U.S. Treasury 5-Year Note Future | 166 | 12/29/2023 | $ 17,343,109 | $ 273,336 | ||||
| U.S. Treasury 10-Year Note Future | 60 | 12/19/2023 | 6,370,312 | 31,809 | ||||
| 12 |
| Futures Contracts Outstanding at October 31, 2023 – (continued) | ||||||||
| Description | Number of Contracts | Expiration Date | Current Notional Amount | Value and Unrealized Appreciation/ (Depreciation) | ||||
| Short position contracts – (continued): | ||||||||
| U.S. Treasury 10-Year Ultra Future | 44 | 12/19/2023 | $ 4,788,438 | $ 265,763 | ||||
| Total | $ 570,908 | |||||||
| Total futures contracts | $ 466,782 | |||||||
| Centrally Cleared Credit Default Swap Contracts Outstanding at October 31, 2023 | |||||||||||||||||
| 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.NA.IG.41.V1 | USD | 5,315,000 | (1.00%) | 12/20/2028 | Quarterly | $ 64,952 | $ — | $ 55,601 | $ (9,351) | ||||||||
| Total centrally cleared credit default swap contracts | $ 64,952 | $ — | $ 55,601 | $ (9,351) | |||||||||||||
| (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, 2023 | |||||||||||||||||
| 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) | |||||||||
| 2.97% Fixed | 12 Mo. USD SOFR | USD | 1,330,000 | 03/15/2053 | Annual | $ 3,059 | $ — | $ 311,364 | $ 308,305 | ||||||||
| 2.88% Fixed | 12 Mo. USD SOFR | USD | 380,000 | 03/15/2053 | Annual | 4,367 | — | 94,511 | 90,144 | ||||||||
| 3.25% Fixed | 12 Mo. USD SOFR | USD | 495,000 | 06/21/2053 | Annual | — | (5,326) | 89,939 | 95,265 | ||||||||
| 3.59% Fixed | 12 Mo. USD SOFR | USD | 1,255,000 | 09/20/2053 | Annual | 5,372 | — | 151,111 | 145,739 | ||||||||
| Total centrally cleared interest rate swaps contracts | $ 12,798 | $ (5,326) | $ 646,925 | $ 639,453 | |||||||||||||
| Description | Total | Level 1 | Level 2 | Level 3(1) | ||||
| Assets | ||||||||
| Asset & Commercial Mortgage-Backed Securities | $ 58,167,231 | $ — | $ 58,167,231 | $ — | ||||
| Corporate Bonds | 72,461,226 | — | 72,461,226 | — | ||||
| Foreign Government Obligations | 1,749,452 | — | 1,749,452 | — | ||||
| Municipal Bonds | 1,886,840 | — | 1,886,840 | — | ||||
| U.S. Government Agencies | 88,615,890 | — | 88,615,890 | — | ||||
| U.S. Government Securities | 71,839,425 | — | 71,839,425 | — | ||||
| Short-Term Investments | 1,022,782 | 374,234 | 648,548 | — | ||||
| Futures Contracts(2) | 570,908 | 570,908 | — | — | ||||
| Swaps - Interest Rate(2) | 639,453 | — | 639,453 | — | ||||
| Total | $ 296,953,207 | $ 945,142 | $ 296,008,065 | $ — | ||||
| Liabilities | ||||||||
| Futures Contracts(2) | $ (104,126) | $ (104,126) | $ — | $ — | ||||
| Swaps - Credit Default(2) | (9,351) | — | (9,351) | — | ||||
| Total | $ (113,477) | $ (104,126) | $ (9,351) | $ — |
| (1) | For the period ended October 31, 2023, 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. |
| 13 |
| Shares or Principal Amount | Market Value† | ||
| COMMON STOCKS - 94.1% | |||
| Automobiles & Components - 0.5% | |||
| 24,881 | Rivian Automotive, Inc. Class A* | $ 403,570 | |
| Capital Goods - 1.0% | |||
| 4,420 | Axon Enterprise, Inc.* | 903,846 | |
| Commercial & Professional Services - 2.2% | |||
| 22,889 | Copart, Inc.* | 996,129 | |
| 3,805 | Paycom Software, Inc. | 932,111 | |
| 1,928,240 | |||
| Consumer Discretionary Distribution & Retail - 8.0% | |||
| 46,197 | Amazon.com, Inc.* | 6,148,359 | |
| 6,868 | Ross Stores, Inc. | 796,482 | |
| 6,944,841 | |||
| Consumer Durables & Apparel - 1.2% | |||
| 1,776 | Deckers Outdoor Corp.* | 1,060,379 | |
| Consumer Services - 0.9% | |||
| 15,785 | Las Vegas Sands Corp. | 749,156 | |
| Energy - 0.8% | |||
| 4,025 | Cheniere Energy, Inc. | 669,840 | |
| Financial Services - 3.5% | |||
| 28,813 | Block, Inc.* | 1,159,723 | |
| 20,356 | Tradeweb Markets, Inc. Class A | 1,832,244 | |
| 2,991,967 | |||
| Food, Beverage & Tobacco - 1.0% | |||
| 16,733 | Monster Beverage Corp.* | 855,056 | |
| Health Care Equipment & Services - 9.9% | |||
| 5,090 | Align Technology, Inc.* | 939,563 | |
| 13,440 | Dexcom, Inc.* | 1,193,875 | |
| 4,631 | Insulet Corp.* | 613,932 | |
| 7,780 | Intuitive Surgical, Inc.* | 2,040,072 | |
| 4,515 | UnitedHealth Group, Inc. | 2,418,053 | |
| 7,133 | Veeva Systems, Inc. Class A* | 1,374,600 | |
| 8,580,095 | |||
| Materials - 1.0% | |||
| 4,360 | Vulcan Materials Co. | 856,696 | |
| Media & Entertainment - 14.6% | |||
| 32,074 | Alphabet, Inc. Class A* | 3,979,742 | |
| 13,461 | Liberty Media Corp.-Liberty Formula One Class C* | 870,792 | |
| 14,092 | Meta Platforms, Inc. Class A* | 4,245,497 | |
| 6,071 | Netflix, Inc.* | 2,499,370 | |
| 6,476 | Spotify Technology SA* | 1,066,986 | |
| 12,662,387 | |||
| Pharmaceuticals, Biotechnology & Life Sciences - 7.5% | |||
| 6,907 | Eli Lilly & Co. | 3,825,994 | |
| 16,081 | Exact Sciences Corp.* | 990,429 | |
| 2,570 | United Therapeutics Corp.* | 572,750 | |
| 3,188 | Vertex Pharmaceuticals, Inc.* | 1,154,407 | |
| 6,543,580 | |||
| Real Estate Management & Development - 1.3% | |||
| 15,290 | CoStar Group, Inc.* | 1,122,439 | |
| Semiconductors & Semiconductor Equipment - 11.7% | |||
| 15,359 | ARM Holdings PLC ADR*(1) | 757,045 | |
| 4,535 | Broadcom, Inc. | 3,815,613 | |
| 13,056 | Micron Technology, Inc. | 873,055 | |
| 11,503 | NVIDIA Corp. | 4,690,923 | |
| 10,136,636 | |||
| Software & Services - 18.6% | |||
| 15,629 | Microsoft Corp. | 5,284,321 | |
| 19,869 | Oracle Corp. | 2,054,455 | |
| 10,062 | Salesforce, Inc.* | 2,020,751 | |
| Shares or Principal Amount | Market Value† | ||
| COMMON STOCKS - 94.1% - (continued) | |||
| Software & Services - 18.6% - (continued) | |||
| 3,331 | ServiceNow, Inc.* | $ 1,938,142 | |
| 29,146 | Shopify, Inc. Class A* | 1,375,400 | |
| 7,533 | Snowflake, Inc. Class A* | 1,093,264 | |
| 11,257 | Workday, Inc. Class A* | 2,383,220 | |
| 16,149,553 | |||
| Technology Hardware & Equipment - 7.9% | |||
| 34,332 | Apple, Inc. | 5,862,876 | |
| 39,857 | Flex Ltd.* | 1,025,122 | |
| 6,887,998 | |||
| Transportation - 2.5% | |||
| 3,695 | FedEx Corp. | 887,170 | |
| 29,105 | Uber Technologies, Inc.* | 1,259,664 | |
| 2,146,834 | |||
| Total Common Stocks (cost $74,573,014) | $ 81,593,113 | ||
| EXCHANGE-TRADED FUNDS - 3.7% | |||
| Other Investment Pools & Funds - 3.7% | |||
| 12,401 | iShares Russell 1000 Growth ETF | $ 3,250,426 | |
| Total Exchange-Traded Funds (cost $3,082,761) | $ 3,250,426 | ||
| Total Long-Term Investments (cost $77,655,775) | $ 84,843,539 | ||
| SHORT-TERM INVESTMENTS - 1.3% | |||
| Repurchase Agreements - 0.5% | |||
| $ 405,727 | Fixed Income Clearing Corp. Repurchase Agreement dated 10/31/2023 at 5.28%, due on 11/01/2023 with a maturity value of $405,787; collateralized by U.S. Treasury Note at 0.75%, maturing 03/31/2026, with a market value of $413,847 | $ 405,727 | |
| Securities Lending Collateral - 0.8% | |||
| 111,757 | Goldman Sachs Financial Square Funds, Government Fund, Institutional Class, 5.26%(2) | 111,757 | |
| 372,522 | HSBC U.S. Government Money Market Fund, Institutional Class, 5.29%(2) | 372,522 | |
| 111,757 | Invesco Government & Agency Portfolio, Institutional Class, 5.28%(2) | 111,757 | |
| 111,757 | Morgan Stanley Institutional Liquidity Funds, Government Portfolio, Institutional Class, 5.26%(2) | 111,757 | |
| 707,793 | |||
| Total Short-Term Investments (cost $1,113,520) | $ 1,113,520 | ||
| Total Investments (cost $78,769,295) | 99.1% | $ 85,957,059 | |
| Other Assets and Liabilities | 0.9% | 781,930 | |
| Total Net Assets | 100.0% | $ 86,738,989 | |
| Note: | Percentage of investments as shown is the ratio of the total market value to total net assets. |
| Equity industry classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s. | |
| For Fund compliance purposes, the Fund may not use the same classification system. These classifications are used for financial reporting purposes. |
| 14 |
| * | Non-income producing. |
| (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 shareholder report. |
| Description | Total | Level 1 | Level 2 | Level 3(1) | ||||
| Assets | ||||||||
| Common Stocks | ||||||||
| Automobiles & Components | $ 403,570 | $ 403,570 | $ — | $ — | ||||
| Capital Goods | 903,846 | 903,846 | — | — | ||||
| Commercial & Professional Services | 1,928,240 | 1,928,240 | — | — | ||||
| Consumer Discretionary Distribution & Retail | 6,944,841 | 6,944,841 | — | — | ||||
| Consumer Durables & Apparel | 1,060,379 | 1,060,379 | — | — | ||||
| Consumer Services | 749,156 | 749,156 | — | — | ||||
| Energy | 669,840 | 669,840 | — | — | ||||
| Financial Services | 2,991,967 | 2,991,967 | — | — | ||||
| Food, Beverage & Tobacco | 855,056 | 855,056 | — | — | ||||
| Health Care Equipment & Services | 8,580,095 | 8,580,095 | — | — | ||||
| Materials | 856,696 | 856,696 | — | — | ||||
| Media & Entertainment | 12,662,387 | 12,662,387 | — | — | ||||
| Pharmaceuticals, Biotechnology & Life Sciences | 6,543,580 | 6,543,580 | — | — | ||||
| Real Estate Management & Development | 1,122,439 | 1,122,439 | — | — | ||||
| Semiconductors & Semiconductor Equipment | 10,136,636 | 10,136,636 | — | — | ||||
| Software & Services | 16,149,553 | 16,149,553 | — | — | ||||
| Technology Hardware & Equipment | 6,887,998 | 6,887,998 | — | — | ||||
| Transportation | 2,146,834 | 2,146,834 | — | — | ||||
| Exchange-Traded Funds | 3,250,426 | 3,250,426 | — | — | ||||
| Short-Term Investments | 1,113,520 | 707,793 | 405,727 | — | ||||
| Total | $ 85,957,059 | $ 85,551,332 | $ 405,727 | $ — |
| (1) | For the period ended October 31, 2023, there were no transfers in and out of Level 3. |
| 15 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% | |||
| Alabama - 3.0% | |||
| Black Belt Energy Gas Dist, AL, Rev | |||
| $ 2,000,000 | 5.25%, 12/01/2027 | $ 2,021,111 | |
| 330,000 | 5.25%, 12/01/2053 | 332,479 | |
| 90,000 | County of Jefferson, AL, GO 5.00%, 04/01/2024 | 90,331 | |
| 2,335,000 | Energy Southeast A Cooperative Dist, AL, Rev 5.50%, 11/01/2053(1) | 2,374,677 | |
| 100,000 | Jefferson County Board of Education, AL, Special Tax 5.00%, 02/01/2042 | 98,551 | |
| 2,000,000 | Lower Alabama Gas Dist, AL, Rev 5.00%, 09/01/2028 | 1,997,798 | |
| Southeast Energy Auth A Cooperative Dist, AL, Rev | |||
| 1,225,000 | 5.00%, 01/01/2054 | 1,216,727 | |
| 415,000 | 5.50%, 01/01/2053 | 421,153 | |
| 1,590,000 | State of Alabama Docks Department, AL, Rev, (AGM Insured) 5.00%, 10/01/2026 | 1,604,988 | |
| 665,000 | Troy University, AL, Rev, (BAM Insured) 5.00%, 11/01/2023 | 665,000 | |
| 10,822,815 | |||
| Alaska - 0.3% | |||
| 1,225,000 | Northern Tobacco Securitization Corp., AK, Rev 4.00%, 06/01/2039 | 1,086,143 | |
| Arizona - 2.1% | |||
| 6,000,000 | Arizona Industrial Dev Auth, AZ, Rev 3.87%, 02/01/2048 | 6,000,000 | |
| 500,000 | City of Phoenix Civic Improvement Corp., AZ, Rev 5.00%, 07/01/2037 | 502,223 | |
| Maricopa County Industrial Dev Auth, AZ, Rev | |||
| 600,000 | 4.00%, 09/01/2037 | 524,399 | |
| 230,000 | 4.00%, 10/15/2047(2) | 177,009 | |
| 195,000 | 5.00%, 09/01/2031 | 199,931 | |
| 350,000 | Tempe Industrial Dev Auth, AZ, Rev 1.13%, 12/01/2026 | 348,276 | |
| 7,751,838 | |||
| California - 5.8% | |||
| 1,500,000 | Abag Finance Auth for Nonprofit Corps., CA, Rev 5.00%, 08/01/2043 | 1,486,494 | |
| 795,000 | Bay Area Toll Auth, CA, Rev 4.49%, 04/01/2056, SIFMA Municipal Swap Index + 0.30%(3) | 770,584 | |
| California Community Choice Financing Auth, CA, Rev | |||
| 755,000 | 5.00%, 12/01/2053 | 750,055 | |
| 3,375,000 | 5.50%, 05/01/2054(1) | 3,451,583 | |
| 205,000 | California Enterprise Dev Auth, CA, Rev 5.00%, 08/01/2045 | 194,062 | |
| California Municipal Finance Auth, CA, Rev, (BAM Insured) | |||
| 180,000 | 4.00%, 05/15/2034 | 170,554 | |
| 600,000 | 4.00%, 05/15/2037 | 543,340 | |
| 2,250,000 | 5.00%, 06/30/2027 | 2,272,640 | |
| 245,000 | California Public Finance Auth, CA, Rev 2.38%, 11/15/2028(2) | 229,669 | |
| 835,000 | California State University, CA, Rev 0.55%, 11/01/2049 | 723,424 | |
| 185,000 | Cathedral City Redev Agency Successor Agency, CA, Tax Allocation, (BAM Insured) 4.00%, 08/01/2032 | 177,657 | |
| City of Fontana, CA, Special Tax | |||
| 500,000 | 4.00%, 09/01/2041 | 423,168 | |
| 450,000 | 4.00%, 09/01/2046 | 360,241 | |
| 525,000 | 4.00%, 09/01/2051 | 403,685 | |
| City of Los Angeles Department of Airports, CA, Rev | |||
| 800,000 | 4.00%, 05/15/2036 | 734,340 | |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| California - 5.8% - (continued) | |||
| $ 865,000 | 5.00%, 05/15/2037 | $ 865,869 | |
| 110,000 | Foothill-Eastern Transportation Corridor Agency, CA, Rev 5.00%, 01/15/2030 | 113,143 | |
| 150,000 | Fresno Unified School Dist, CA, GO 0.00%, 08/01/2032(4) | 106,680 | |
| 5,670,000 | Golden State Tobacco Securitization Corp., CA, Rev 0.00%, 06/01/2066(4) | 463,148 | |
| 205,000 | Oakland Unified School Dist, CA, GO, (AGM Insured) 4.00%, 08/01/2034 | 203,406 | |
| 595,000 | Regents of the University of California Medical Center Pooled, CA, Rev 5.00%, 05/15/2036 | 638,177 | |
| 100,000 | Romoland School Dist, CA, Special Tax 5.00%, 09/01/2043 | 95,487 | |
| 475,000 | San Diego County Regional Airport Auth, CA, Rev 5.25%, 07/01/2036 | 490,541 | |
| San Francisco City & County Airport, Comm-San Francisco International Airport, CA, Rev | |||
| 345,000 | 4.00%, 05/01/2039 | 301,401 | |
| 265,000 | 5.00%, 05/01/2050 | 252,868 | |
| 555,000 | San Francisco City & County Redev Successor Agency, CA, Tax Allocation, (AGM Insured) 5.25%, 08/01/2053 | 570,369 | |
| San Joaquin Hills Transportation Corridor Agency, CA, Rev, (NATL Insured) | |||
| 80,000 | 0.00%, 01/15/2026(4) | 72,456 | |
| 235,000 | 0.00%, 01/15/2032(4) | 158,260 | |
| 70,000 | 0.00%, 01/15/2035(4) | 40,414 | |
| 1,760,000 | 4.00%, 01/15/2034 | 1,725,215 | |
| State of California, CA, GO | |||
| 1,500,000 | 2.20%, 05/01/2040 | 1,500,000 | |
| 185,000 | 4.00%, 11/01/2041 | 169,660 | |
| 750,000 | 5.00%, 10/01/2042 | 789,525 | |
| 21,248,115 | |||
| Colorado - 2.8% | |||
| 1,970,000 | City & County of Denver Airport System, CO, Rev 5.50%, 11/15/2032 | 2,108,819 | |
| Colorado Health Facs Auth, CO, Rev | |||
| 105,000 | 4.00%, 12/01/2040 | 83,968 | |
| 875,000 | 5.00%, 11/01/2033 | 897,256 | |
| 835,000 | 5.00%, 08/01/2044 | 788,518 | |
| 2,815,000 | Colorado School of Mines, CO, Rev, (AGM Insured) 5.25%, 12/01/2052 | 2,841,103 | |
| 160,000 | Denver Convention Center Hotel Auth, CO, Rev 5.00%, 12/01/2031 | 158,548 | |
| 365,000 | E-470 Public Highway Auth, CO, Rev 3.91%, 09/01/2039, 1 mo. USD SOFR + 0.35%(3) | 363,332 | |
| 1,030,000 | Park Creek Metropolitan Dist, CO, Rev 5.00%, 12/01/2029 | 1,066,917 | |
| 300,000 | Public Auth for Colorado Energy, CO, Rev 6.50%, 11/15/2038 | 331,454 | |
| Regional Transportation Dist, CO, Rev | |||
| 500,000 | 4.00%, 07/15/2039 | 437,216 | |
| 400,000 | 5.00%, 07/15/2029 | 407,164 | |
| 500,000 | 5.00%, 01/15/2030 | 508,862 | |
| 100,000 | 5.00%, 07/15/2032 | 101,813 | |
| 195,000 | University of Colorado, CO, Rev 2.00%, 06/01/2051 | 185,682 | |
| 10,280,652 | |||
| Connecticut - 2.4% | |||
| 100,000 | City of Bridgeport, CT, GO, (BAM Insured) 5.00%, 07/15/2034 | 103,723 | |
| Connecticut Housing Finance Auth, CT, Rev | |||
| 5,700,000 | 4.05%, 11/15/2050 | 5,700,000 | |
| 16 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Connecticut - 2.4% - (continued) | |||
| $ 495,000 | 4.25%, 05/15/2042 | $ 487,372 | |
| Connecticut State Health & Educational Facs Auth, CT, Rev | |||
| 1,060,000 | 1.10%, 07/01/2049 | 1,015,061 | |
| 470,000 | 5.00%, 07/01/2030 | 492,508 | |
| 315,000 | 5.00%, 07/01/2031 | 330,171 | |
| 845,000 | State of Connecticut, CT, GO 3.00%, 06/01/2038 | 654,386 | |
| 8,783,221 | |||
| Delaware - 0.1% | |||
| 200,000 | Delaware River & Bay Auth, DE, Rev 5.00%, 01/01/2037 | 210,564 | |
| District of Columbia - 0.4% | |||
| Dist of Columbia, DC, Rev | |||
| 250,000 | 5.00%, 07/01/2037 | 216,359 | |
| 455,000 | 5.00%, 07/01/2042 | 369,091 | |
| 500,000 | Metropolitan Washington Airports Auth Aviation, DC, Rev 5.00%, 10/01/2035 | 505,141 | |
| 500,000 | Metropolitan Washington Airports Auth, Dulles Toll Road, DC, Rev 5.00%, 10/01/2033 | 512,263 | |
| 1,602,854 | |||
| Florida - 4.7% | |||
| 500,000 | Alachua County School Board, FL, COP, (AGM Insured) 5.00%, 07/01/2028 | 521,704 | |
| 185,000 | Capital Projects Finance Auth, FL, Rev 5.00%, 10/01/2027 | 185,774 | |
| 125,000 | City of Atlantic Beach, FL, Rev 5.00%, 11/15/2043 | 105,891 | |
| 400,000 | City of Pompano Beach, FL, Rev 2.00%, 01/01/2029 | 336,502 | |
| 5,555,000 | City of West Palm Beach Utility System, FL, Rev, (AGC Insured) 4.19%, 10/01/2038 | 5,555,000 | |
| 270,000 | County of Broward Airport System, FL, Rev 4.00%, 10/01/2044 | 221,487 | |
| 1,500,000 | County of Miami-Dade Aviation, FL, Rev 5.00%, 10/01/2033 | 1,472,402 | |
| County of Miami-Dade Seaport Department, FL, Rev | |||
| 1,085,000 | 5.00%, 10/01/2035 | 1,105,784 | |
| 200,000 | 5.00%, 10/01/2036 | 201,624 | |
| 445,000 | Escambia County Health Facs Auth, FL, Rev 4.00%, 08/15/2045 | 347,731 | |
| 1,000,000 | Greater Orlando Aviation Auth, FL, Rev 5.00%, 10/01/2037 | 979,440 | |
| 680,000 | Orange County Convention Center, FL, Rev 5.00%, 10/01/2024 | 684,196 | |
| 475,000 | Orange County Health Facs Auth, FL, Rev 5.00%, 10/01/2037 | 485,449 | |
| 950,000 | Orlando Utilities Commission, FL, Rev 1.25%, 10/01/2046 | 783,935 | |
| Polk County Industrial Dev Auth, FL, Rev | |||
| 510,000 | 5.00%, 01/01/2029 | 494,183 | |
| 190,000 | 5.00%, 01/01/2055 | 145,550 | |
| 35,000 | Putnam County Dev Auth, FL, Rev 5.00%, 03/15/2042 | 33,649 | |
| 445,000 | St Johns County Industrial Dev Auth, FL, Rev 4.00%, 12/15/2046 | 301,567 | |
| 2,000,000 | Town of Davie, FL, Rev 5.00%, 04/01/2048 | 1,915,516 | |
| 155,000 | Village Community Dev Dist No. 13, FL, Special Assessment 2.55%, 05/01/2031 | 131,580 | |
| 1,245,000 | Village Community Dev Dist No. 14, FL, Special Assessment 5.13%, 05/01/2037 | 1,218,313 | |
| 17,227,277 | |||
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Georgia - 4.0% | |||
| $ 1,350,000 | Bartow County Dev Auth, GA, Rev 3.95%, 12/01/2032 | $ 1,286,465 | |
| 100,000 | Dev Auth of Appling County, GA, Rev 1.50%, 01/01/2038 | 94,632 | |
| 400,000 | Dev Auth of Burke County, GA, Rev 1.50%, 01/01/2040 | 378,529 | |
| 285,000 | Dev Auth of Monroe County, GA, Rev 3.88%, 10/01/2048 | 277,448 | |
| Main Street Natural Gas, Inc., GA, Rev | |||
| 560,000 | 4.00%, 12/01/2023 | 559,503 | |
| 2,950,000 | 4.00%, 05/01/2052 | 2,766,090 | |
| 1,760,000 | 5.00%, 07/01/2053 | 1,748,445 | |
| 475,000 | 5.00%, 09/01/2053(1) | 471,677 | |
| 1,200,000 | 5.50%, 09/15/2025 | 1,208,644 | |
| Municipal Electric Auth of Georgia, GA, Rev, (AGM Insured) | |||
| 840,000 | 4.00%, 01/01/2041 | 741,831 | |
| 1,000,000 | 5.00%, 01/01/2028 | 1,014,440 | |
| 1,000,000 | 5.00%, 07/01/2048 | 975,027 | |
| 520,000 | 5.00%, 07/01/2052 | 485,551 | |
| 215,000 | 5.00%, 01/01/2056 | 200,645 | |
| 2,300,000 | State of Georgia, GA, GO 5.00%, 08/01/2024 | 2,321,048 | |
| 14,529,975 | |||
| Hawaii - 0.0% | |||
| 100,000 | State of Hawaii Airports System, HI, Rev 5.00%, 07/01/2031 | 101,132 | |
| Idaho - 0.5% | |||
| 820,000 | Idaho Health Facs Auth, ID, Rev 4.00%, 03/01/2046 | 661,296 | |
| 1,100,000 | Idaho Housing & Finance Association, ID, Rev, (GNMA/FNMA/FHLMC/COLL Insured) 5.75%, 01/01/2053 | 1,142,790 | |
| 1,804,086 | |||
| Illinois - 8.3% | |||
| Chicago Board of Education Dedicated Capital Improvement Tax, IL, Rev | |||
| 250,000 | 5.00%, 04/01/2033 | 249,696 | |
| 380,000 | 5.25%, 04/01/2035 | 387,362 | |
| 250,000 | 5.25%, 04/01/2036 | 252,793 | |
| Chicago Board of Education, IL, GO, (NATL Insured) | |||
| 105,000 | 0.00%, 12/01/2023(4) | 104,574 | |
| 110,000 | 0.00%, 12/01/2026(4) | 94,515 | |
| 380,000 | 4.00%, 12/01/2047 | 281,534 | |
| 250,000 | 5.00%, 12/01/2024 | 250,075 | |
| 500,000 | 5.00%, 12/01/2028 | 500,201 | |
| 1,000,000 | 5.00%, 12/01/2032 | 982,082 | |
| 400,000 | 5.00%, 12/01/2046 | 351,167 | |
| 2,500,000 | 5.25%, 12/01/2036(5) | 2,439,078 | |
| 370,000 | Chicago Midway International Airport, IL, Rev, (BAM Insured) 5.50%, 01/01/2038(5) | 383,201 | |
| Chicago O'Hare International Airport, IL, Rev | |||
| 650,000 | 4.50%, 01/01/2048 | 563,630 | |
| 255,000 | 5.00%, 01/01/2032 | 268,110 | |
| 200,000 | 5.00%, 01/01/2037 | 204,055 | |
| 1,785,000 | 5.00%, 01/01/2038 | 1,800,826 | |
| 445,000 | Chicago Transit Auth Capital Grant Receipts, IL, Rev 5.00%, 06/01/2024 | 446,222 | |
| 275,000 | Chicago Transit Auth Sales Tax Receipts Fund, IL, Rev 5.00%, 12/01/2045 | 268,919 | |
| City of Chicago Wastewater Transmission, IL, Rev | |||
| 90,000 | 5.00%, 01/01/2027 | 90,059 | |
| 90,000 | 5.50%, 01/01/2030 | 93,083 | |
| 17 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Illinois - 8.3% - (continued) | |||
| $ 530,000 | City of Chicago Waterworks, IL, Rev, (AGM Insured) 5.00%, 11/01/2037 | $ 542,501 | |
| City of Chicago, IL, GO, (NATL Insured) | |||
| 500,000 | 0.00%, 01/01/2026(4) | 457,661 | |
| 400,000 | 5.00%, 01/01/2024 | 400,025 | |
| 1,385,000 | City of Granite City, IL, Rev 1.25%, 05/01/2027 | 1,212,509 | |
| 335,000 | County of Cook Sales Tax, IL, Rev 5.00%, 11/15/2030 | 353,042 | |
| 265,000 | County of Cook, IL, GO 5.00%, 11/15/2032 | 275,965 | |
| Illinois Finance Auth, IL, Rev | |||
| 640,000 | 4.00%, 07/15/2039 | 559,436 | |
| 235,000 | 5.00%, 08/15/2033 | 245,533 | |
| 150,000 | 5.00%, 11/15/2045 | 142,001 | |
| 305,000 | 5.00%, 05/15/2050 | 305,118 | |
| Illinois Housing Dev Auth, IL, Rev, (GNMA/FNMA/FHLMC/COLL Insured) | |||
| 930,000 | 5.50%, 10/01/2053 | 953,984 | |
| 495,000 | 5.75%, 10/01/2053 | 509,501 | |
| 320,000 | Illinois State Toll Highway Auth, IL, Rev 4.00%, 01/01/2040 | 286,848 | |
| 625,000 | Kane County School Dist No. 131 Aurora East Side, IL, GO, (AGM Insured) 5.00%, 12/01/2025 | 636,364 | |
| 100,000 | Kane McHenry Cook & De Kalb Counties Unit School Dist No. 300, IL, GO 5.00%, 01/01/2032 | 101,921 | |
| Kendall Kane & Will Counties Community Unit School Dist No. 308, IL, GO, (AGM Insured) | |||
| 150,000 | 0.00%, 02/01/2027(4) | 130,005 | |
| 515,000 | 5.00%, 02/01/2025 | 520,611 | |
| Metropolitan Pier & Exposition Auth, IL, Rev, (NATL Insured) | |||
| 205,000 | 0.00%, 12/15/2025(4) | 185,798 | |
| 595,000 | 4.00%, 12/15/2042 | 493,216 | |
| Regional Transportation Auth, IL, Rev | |||
| 150,000 | 5.00%, 06/01/2024 | 151,012 | |
| 355,000 | 6.00%, 07/01/2024 | 359,783 | |
| Sales Tax Securitization Corp., IL, Rev | |||
| 785,000 | 4.00%, 01/01/2038 | 700,194 | |
| 1,785,000 | 5.00%, 01/01/2026 | 1,817,067 | |
| 500,000 | 5.00%, 01/01/2029 | 514,660 | |
| 550,000 | 5.00%, 01/01/2030 | 575,894 | |
| 1,870,000 | 5.00%, 01/01/2037 | 1,876,197 | |
| 115,000 | State of Illinois Sales Tax, IL, Rev 5.00%, 06/15/2027 | 116,497 | |
| State of Illinois, IL, GO | |||
| 450,000 | 5.00%, 12/01/2024 | 452,908 | |
| 1,010,000 | 5.00%, 11/01/2025 | 1,022,475 | |
| 300,000 | 5.00%, 11/01/2027 | 307,364 | |
| 535,000 | 5.00%, 03/01/2029 | 551,412 | |
| 1,500,000 | 5.00%, 07/01/2032 | 1,549,382 | |
| 465,000 | 5.00%, 12/01/2034 | 468,119 | |
| 325,000 | 5.00%, 03/01/2046 | 305,067 | |
| 750,000 | 5.25%, 12/01/2030 | 770,609 | |
| 550,000 | 5.50%, 03/01/2042 | 558,999 | |
| 100,000 | Village of Bolingbrook, IL, GO, (AGM Insured) 5.00%, 01/01/2028 | 103,962 | |
| 30,524,822 | |||
| Indiana - 1.6% | |||
| 268,633 | City of Evansville, IN, Rev, (FNMA Insured) 3.00%, 06/01/2034 | 222,796 | |
| 2,550,000 | City of Whiting, IN, Rev 4.40%, 11/01/2045 | 2,425,404 | |
| 195,000 | Crown Point Multi School Building Corp., IN, Rev, (ST INTERCEPT Insured) 5.00%, 01/15/2029 | 204,868 | |
| 3,000,000 | Indiana Finance Auth, IN, Rev 5.00%, 10/01/2042 | 3,043,819 | |
| 5,896,887 | |||
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Iowa - 0.7% | |||
| $ 575,000 | Iowa Finance Auth, IA, Rev 5.00%, 02/15/2027 | $ 586,795 | |
| Iowa Student Loan Liquidity Corp., IA, Rev | |||
| 830,000 | 5.00%, 12/01/2023 | 830,345 | |
| 350,000 | 5.00%, 12/01/2025 | 351,921 | |
| 715,000 | Iowa Tobacco Settlement Auth, IA, Rev 4.00%, 06/01/2049 | 637,028 | |
| 2,406,089 | |||
| Kentucky - 0.0% | |||
| 100,000 | Kentucky Public Energy Auth, KY, Rev 4.00%, 01/01/2049 | 98,745 | |
| Louisiana - 0.4% | |||
| 325,000 | East Baton Rouge Sewerage Commission, LA, Rev 1.30%, 02/01/2041 | 268,012 | |
| 305,000 | Parish of St John the Baptist, LA, Rev 2.38%, 06/01/2037 | 284,602 | |
| 265,000 | Regional Transit Auth Sales Tax, LA, Rev, (AGM Insured) 5.00%, 01/01/2027 | 273,023 | |
| 490,000 | State of Louisiana Gasoline & Fuels Tax, LA, Rev 4.22%, 05/01/2043, 1 mo. USD SOFR + 0.50%(3) | 478,366 | |
| 1,304,003 | |||
| Maine - 0.1% | |||
| 275,000 | Maine Health & Higher Educational Facs Auth, ME, Rev, (AGM Insured) 4.00%, 07/01/2035 | 255,542 | |
| Massachusetts - 4.4% | |||
| 1,230,000 | Massachusetts Clean Water Trust, MA, Rev 5.00%, 02/01/2024 | 1,233,640 | |
| Massachusetts Dev Finance Agency, MA, Rev | |||
| 3,500,000 | 4.00%, 07/15/2036 | 3,440,048 | |
| 405,000 | 4.69%, 07/01/2049, SIFMA Municipal Swap Index + 0.60%(2)(3) | 400,868 | |
| 130,000 | 5.00%, 07/15/2024(2) | 130,060 | |
| 1,000,000 | 5.00%, 07/01/2025 | 1,012,164 | |
| 680,000 | 5.00%, 07/01/2031 | 675,554 | |
| 675,000 | 5.00%, 07/01/2034 | 677,015 | |
| 350,000 | 5.00%, 07/01/2044 | 325,354 | |
| 100,000 | 5.00%, 07/01/2048 | 96,172 | |
| 380,000 | 5.00%, 10/01/2057(2) | 297,621 | |
| 325,000 | 5.25%, 07/01/2052 | 309,305 | |
| Massachusetts Educational Financing Auth, MA, Rev | |||
| 600,000 | 5.00%, 07/01/2024 | 602,433 | |
| 1,000,000 | 5.00%, 01/01/2025 | 1,005,418 | |
| 100,000 | 5.00%, 07/01/2026 | 100,738 | |
| 110,000 | 5.00%, 07/01/2027 | 110,740 | |
| 5,600,000 | Massachusetts Health & Educational Facs Auth, MA, Rev 3.95%, 07/01/2027(1) | 5,600,000 | |
| 16,017,130 | |||
| Michigan - 1.5% | |||
| Michigan Finance Auth, MI, Rev | |||
| 1,250,000 | 4.00%, 11/15/2046 | 1,010,609 | |
| 750,000 | 5.00%, 11/01/2032 | 780,911 | |
| Michigan State Housing Dev Auth, MI, Rev | |||
| 620,000 | 4.25%, 06/01/2049 | 610,078 | |
| 380,000 | 4.25%, 12/01/2049 | 372,262 | |
| 1,275,000 | 5.75%, 06/01/2054 | 1,310,358 | |
| 540,000 | Michigan Strategic Fund, MI, Rev 3.88%, 06/01/2053 | 503,757 | |
| 275,000 | New Haven Community Schools, MI, GO, (Q-SBLF Insured) 5.00%, 05/01/2032 | 291,669 | |
| 500,000 | Wayne County Airport Auth, MI, Rev 5.00%, 12/01/2025 | 504,519 | |
| 5,384,163 | |||
| 18 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Minnesota - 0.7% | |||
| $ 575,000 | Duluth Independent School Dist No. 709, MN, COP, (SD CRED PROG Insured) 5.00%, 02/01/2025 | $ 582,594 | |
| 385,746 | Freddie Mac Multifamily ML Certificates, MN, Rev 2.54%, 06/25/2037 | 287,049 | |
| 750,000 | Minnesota Higher Education Facs Auth, MN, Rev 3.00%, 10/01/2038 | 570,704 | |
| Minnesota Housing Finance Agency, MN, Rev, (GNMA/FNMA/FHLMC/COLL Insured) | |||
| 515,000 | 5.05%, 07/01/2031 | 495,388 | |
| 530,000 | 5.05%, 01/01/2032 | 508,816 | |
| 2,444,551 | |||
| Mississippi - 0.3% | |||
| 1,000,000 | State of Mississippi Gaming Tax, MS, Rev 5.00%, 10/15/2029 | 1,032,519 | |
| Missouri - 1.2% | |||
| 400,000 | City of St Louis Airport, MO, Rev 5.00%, 07/01/2031 | 405,379 | |
| Health & Educational Facs Auth of the State of Missouri, MO, Rev | |||
| 850,000 | 4.00%, 01/01/2050 | 707,642 | |
| 555,000 | 5.00%, 06/01/2032 | 581,436 | |
| 510,000 | Kansas City Industrial Dev Auth, MO, Rev 5.00%, 03/01/2032 | 515,228 | |
| 1,550,000 | Missouri Housing Dev Commission, MO, Rev, (GNMA/FNMA/FHLMC Insured) 4.25%, 05/01/2047 | 1,518,622 | |
| 650,000 | St Louis County Industrial Dev Auth, MO, Rev 5.00%, 09/01/2028 | 628,842 | |
| 4,357,149 | |||
| Nebraska - 0.8% | |||
| Central Plains Energy Project, NE, Rev | |||
| 1,500,000 | 4.00%, 12/01/2049 | 1,475,612 | |
| 1,365,000 | 5.00%, 05/01/2054 | 1,357,922 | |
| 300,000 | County of Washington, NE, Rev 0.90%, 09/01/2030 | 281,982 | |
| 3,115,516 | |||
| Nevada - 1.3% | |||
| 260,000 | City of North Las Vegas, NV, Special Assessment 4.50%, 06/01/2039 | 231,513 | |
| 280,000 | City of Reno, NV, Rev, (AGM Insured) 5.00%, 06/01/2033 | 288,287 | |
| 300,000 | Clark County School Dist, NV, GO 5.00%, 06/15/2035 | 309,806 | |
| 2,850,000 | County of Clark Department of Aviation, NV, Rev 5.00%, 07/01/2026 | 2,886,685 | |
| 250,000 | County of Clark Passenger Facility Charge, NV, Rev 5.00%, 07/01/2028 | 263,464 | |
| Las Vegas Convention & Visitors Auth, NV, Rev | |||
| 200,000 | 5.00%, 07/01/2029 | 201,150 | |
| 500,000 | 5.00%, 07/01/2034 | 521,038 | |
| 4,701,943 | |||
| New Hampshire - 1.2% | |||
| New Hampshire Business Finance Auth, NH, Rev | |||
| 1,295,000 | 4.00%, 12/01/2028 | 1,238,547 | |
| 80,000 | 4.00%, 01/01/2041 | 60,652 | |
| 650,000 | 5.00%, 06/01/2036 | 683,870 | |
| 715,000 | 5.00%, 12/01/2036 | 748,085 | |
| 860,000 | 5.00%, 12/01/2037 | 890,624 | |
| 665,000 | 5.00%, 12/01/2038 | 684,985 | |
| 4,306,763 | |||
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| New Jersey - 1.2% | |||
| New Jersey Economic Dev Auth, NJ, Rev | |||
| $ 350,000 | 5.00%, 03/01/2028 | $ 363,373 | |
| 755,000 | 5.00%, 11/01/2034 | 790,294 | |
| 430,000 | New Jersey Higher Education Student Assistance Auth, NJ, Rev 5.00%, 12/01/2025 | 433,123 | |
| New Jersey Transportation Trust Fund Auth, NJ, Rev | |||
| 125,000 | 5.00%, 12/15/2023 | 125,143 | |
| 300,000 | 5.00%, 06/15/2038 | 306,933 | |
| New Jersey Turnpike Auth, NJ, Rev | |||
| 250,000 | 4.00%, 01/01/2033 | 246,247 | |
| 295,000 | 4.00%, 01/01/2042 | 263,635 | |
| 385,000 | 5.00%, 01/01/2033 | 399,960 | |
| Newark Board of Education, NJ, GO, (School Board Reserve Fund Insured) | |||
| 295,000 | 5.00%, 07/15/2024 | 296,738 | |
| 325,000 | 5.00%, 07/15/2027 | 335,014 | |
| 340,000 | State of New Jersey, NJ, GO 5.00%, 06/01/2025 | 345,860 | |
| Tobacco Settlement Financing Corp., NJ, Rev | |||
| 340,000 | 5.00%, 06/01/2024 | 341,195 | |
| 250,000 | 5.00%, 06/01/2029 | 258,036 | |
| 4,505,551 | |||
| New Mexico - 1.0% | |||
| 2,150,000 | City of Santa Fe, NM, Rev 5.00%, 05/15/2049 | 1,606,919 | |
| New Mexico Mortgage Finance Auth, NM, Rev, (GNMA/FNMA/FHLMC Insured) | |||
| 50,000 | 4.00%, 01/01/2049 | 48,862 | |
| 1,855,000 | 6.50%, 09/01/2054(5) | 1,976,776 | |
| 3,632,557 | |||
| New York - 11.9% | |||
| City of New York, NY, GO | |||
| 1,675,000 | 4.01%, 08/01/2044 | 1,675,000 | |
| 280,000 | 5.00%, 10/01/2033 | 302,125 | |
| 530,000 | 5.00%, 04/01/2036 | 542,510 | |
| Long Island Power Auth, NY, Rev | |||
| 500,000 | 0.85%, 09/01/2050 | 466,535 | |
| 295,000 | 5.00%, 09/01/2033 | 307,973 | |
| Metropolitan Transportation Auth, NY, Rev | |||
| 2,000,000 | 5.00%, 11/15/2029 | 1,998,641 | |
| 265,000 | 5.00%, 11/15/2032 | 265,186 | |
| 2,695,000 | 5.00%, 11/15/2033 | 2,706,607 | |
| 1,000,000 | 5.00%, 11/15/2045 | 1,019,493 | |
| 575,000 | 5.00%, 11/15/2048 | 554,601 | |
| New York City Industrial Dev Agency, NY, Rev, (AGM Insured) | |||
| 670,000 | 3.00%, 01/01/2033 | 563,249 | |
| 150,000 | 5.00%, 03/01/2030 | 156,543 | |
| New York City Municipal Water Finance Auth, NY, Rev | |||
| 1,200,000 | 3.00%, 06/15/2040 | 897,523 | |
| 690,000 | 4.13%, 06/15/2047 | 602,117 | |
| 500,000 | 5.00%, 06/15/2040 | 510,448 | |
| New York City Transitional Finance Auth, Future Tax Secured, NY, Rev | |||
| 500,000 | 4.00%, 05/01/2035 | 482,998 | |
| 185,000 | 4.00%, 11/01/2035 | 177,768 | |
| 580,000 | 4.00%, 11/01/2036 | 546,199 | |
| 2,305,000 | 4.00%, 02/01/2038 | 2,104,991 | |
| 1,000,000 | 4.00%, 11/01/2038 | 910,348 | |
| 465,000 | 5.00%, 11/01/2033 | 494,575 | |
| 570,000 | 5.00%, 05/01/2038 | 581,297 | |
| New York City Transitional Finance Auth, NY, Rev | |||
| 200,000 | 5.00%, 05/01/2037 | 212,102 | |
| 1,360,000 | 5.00%, 05/01/2038 | 1,424,535 | |
| New York Liberty Dev Corp., NY, Rev | |||
| 450,000 | 0.95%, 11/15/2027 | 375,147 | |
| 19 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| New York - 11.9% - (continued) | |||
| $ 405,000 | 2.75%, 02/15/2044 | $ 268,806 | |
| 2,175,000 | 5.00%, 11/15/2044(2) | 1,940,808 | |
| New York State Dormitory Auth, NY, Rev | |||
| 1,000,000 | 3.00%, 03/15/2041 | 741,137 | |
| 1,650,000 | 4.00%, 03/15/2038 | 1,502,522 | |
| 2,000,000 | 4.00%, 05/01/2039 | 1,688,555 | |
| 675,000 | 4.00%, 03/15/2040 | 603,658 | |
| 2,250,000 | 5.00%, 03/15/2036 | 2,235,846 | |
| 105,000 | 5.00%, 05/01/2037 | 107,033 | |
| 1,000,000 | 5.00%, 05/01/2052 | 967,023 | |
| 1,805,000 | New York State Environmental Facs Corp., NY, Rev 4.00%, 06/15/2039 | 1,659,497 | |
| 2,000,000 | New York State Housing Finance Agency, NY, Rev 3.95%, 11/15/2037 | 2,000,000 | |
| New York State Urban Dev Corp., NY, Rev | |||
| 2,000,000 | 4.00%, 03/15/2037 | 1,891,849 | |
| 515,000 | 5.00%, 03/15/2038 | 522,600 | |
| New York Transportation Dev Corp., NY, Rev | |||
| 440,000 | 4.00%, 12/01/2038 | 372,207 | |
| 130,000 | 5.00%, 12/01/2024 | 130,343 | |
| 650,000 | 5.00%, 12/01/2030 | 658,057 | |
| 515,000 | 5.00%, 12/01/2032 | 519,441 | |
| 695,000 | 6.00%, 04/01/2035(5) | 718,863 | |
| Port Auth of New York & New Jersey, NY, Rev | |||
| 500,000 | 3.00%, 10/01/2027 | 460,478 | |
| 185,000 | 4.00%, 07/15/2040 | 164,815 | |
| 800,000 | 5.00%, 11/15/2035 | 807,123 | |
| 835,000 | 5.00%, 01/15/2037 | 846,028 | |
| 290,000 | 5.00%, 12/01/2037 | 291,195 | |
| 700,000 | 5.00%, 11/01/2038 | 699,416 | |
| 500,000 | 5.00%, 12/01/2038 | 499,561 | |
| 390,000 | Syracuse Industrial Dev Agency, NY, Rev 5.00%, 01/01/2031 | 280,900 | |
| 260,000 | Triborough Bridge & Tunnel Auth, NY, Rev 5.00%, 11/15/2049 | 258,517 | |
| 1,050,000 | Westchester County Local Dev Corp., NY, Rev 3.20%, 07/01/2028(2) | 958,991 | |
| 43,673,780 | |||
| North Carolina - 0.8% | |||
| 970,000 | North Carolina Housing Finance Agency, NC, Rev, (GNMA/FNMA/FHLMC Insured) 3.75%, 07/01/2052 | 928,855 | |
| North Carolina Medical Care Commission, NC, Rev | |||
| 75,000 | 2.88%, 10/01/2026 | 69,326 | |
| 255,000 | 4.00%, 01/01/2025 | 249,722 | |
| 1,455,000 | 4.00%, 09/01/2051 | 999,504 | |
| 395,000 | 5.00%, 01/01/2038 | 365,447 | |
| 145,000 | 5.00%, 01/01/2039 | 123,462 | |
| 210,000 | 5.00%, 01/01/2044 | 184,716 | |
| 2,921,032 | |||
| Ohio - 2.6% | |||
| American Municipal Power, Inc., OH, Rev | |||
| 1,000,000 | 4.00%, 02/15/2036 | 926,433 | |
| 1,000,000 | 4.00%, 02/15/2037 | 894,682 | |
| 1,235,000 | Buckeye Tobacco Settlement Financing Auth, OH, Rev 5.00%, 06/01/2055 | 1,010,270 | |
| 100,000 | Cleveland Department of Public Utilities Division of Public Power, OH, Rev, (AGM Insured) 5.00%, 11/15/2030 | 104,358 | |
| 250,000 | County of Allen Hospital Facs, OH, Rev 5.00%, 12/01/2029 | 262,463 | |
| 845,000 | Ohio Air Quality Dev Auth, OH, Rev 4.00%, 09/01/2030 | 824,018 | |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Ohio - 2.6% - (continued) | |||
| $ 805,000 | Ohio Higher Educational Facs Commission, OH, Rev 5.00%, 07/01/2035 | $ 850,162 | |
| Ohio Housing Finance Agency, OH, Rev | |||
| 430,000 | 3.00%, 03/01/2052 | 403,615 | |
| 1,985,000 | 5.75%, 03/01/2054 | 2,037,280 | |
| 600,000 | Southern Ohio Port Auth, OH, Rev 6.50%, 12/01/2030(2) | 411,746 | |
| State of Ohio, OH, Rev | |||
| 360,000 | 2.75%, 01/01/2052 | 339,011 | |
| 1,500,000 | 5.00%, 03/01/2032 | 1,635,429 | |
| 9,699,467 | |||
| Oklahoma - 0.3% | |||
| 925,000 | Canadian County Educational Facs Auth, OK, Rev 5.00%, 09/01/2033 | 961,449 | |
| Oklahoma Dev Finance Auth, OK, Rev | |||
| 30,000 | 5.25%, 08/15/2048 | 25,248 | |
| 30,000 | 5.50%, 08/15/2057 | 25,620 | |
| 1,012,317 | |||
| Oregon - 1.1% | |||
| 30,000 | Benton & Linn Counties Consolidated School Dist No. 509J & 509A Corvallis, OR, GO, (School Board Guaranty Insured) 5.00%, 06/15/2038 | 30,737 | |
| 20,000 | Marion County School Dist No. 15 North Marion, OR, GO, (School Board Guaranty Insured) 0.00%, 06/15/2037(4) | 9,956 | |
| 115,000 | Multnomah & Clackamas Counties School Dist No. 10JT Gresham-Barlow, OR, GO, (School Board Guaranty Insured) 0.00%, 06/15/2038(4) | 52,861 | |
| Port of Portland Airport, OR, Rev | |||
| 270,000 | 5.00%, 07/01/2029 | 276,443 | |
| 575,000 | 5.00%, 07/01/2030 | 588,416 | |
| 1,910,000 | 5.00%, 07/01/2038 | 1,892,654 | |
| 1,000,000 | 5.00%, 07/01/2044 | 963,744 | |
| Salem Hospital Facs Auth, OR, Rev | |||
| 40,000 | 5.00%, 05/15/2038 | 36,350 | |
| 30,000 | 5.00%, 05/15/2048 | 25,021 | |
| 50,000 | State of Oregon Housing & Community Services Department, OR, Rev 4.50%, 01/01/2049 | 49,601 | |
| 70,000 | State of Oregon, OR, GO 4.00%, 12/01/2048 | 68,945 | |
| 100,000 | Washington Clackamas & Yamhill Counties School Dist No. 88J, OR, GO, (School Bond Guaranty Insured) 0.00%, 06/15/2034(4) | 58,707 | |
| 4,053,435 | |||
| Pennsylvania - 5.9% | |||
| 135,000 | Armstrong School Dist, PA, GO, (BAM State Aid Withholding Insured) 4.00%, 03/15/2035 | 128,406 | |
| 735,000 | City of Philadelphia Water & Wastewater, PA, Rev, (AGM Insured) 5.00%, 09/01/2036 | 776,383 | |
| 565,000 | City of Philadelphia, PA, GO 5.00%, 02/01/2035 | 589,217 | |
| 3,000,000 | Coatesville School Dist, PA, GO, (BAM State Aid Withholding Insured) 5.25%, 11/15/2037 | 3,069,986 | |
| 100,000 | Commonwealth Financing Auth, PA, Rev 5.00%, 06/01/2027 | 102,225 | |
| 8,000,000 | Delaware River Port Auth, PA, Rev 5.00%, 01/01/2028 | 8,013,771 | |
| 265,000 | Delaware Valley Regional Finance Auth, PA, Rev 5.75%, 07/01/2032 | 294,371 | |
| 585,000 | Hospitals & Higher Education Facs Auth of Philadelphia, PA, Rev, (AGM Insured) 5.00%, 07/01/2037 | 587,654 | |
| 345,000 | Lancaster Industrial Dev Auth, PA, Rev 4.00%, 07/01/2056 | 219,856 | |
| Montgomery County Industrial Dev Auth, PA, Rev | |||
| 230,000 | 5.00%, 12/01/2030 | 230,211 | |
| 240,000 | 5.00%, 12/01/2044 | 222,301 | |
| 20 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Pennsylvania - 5.9% - (continued) | |||
| $ 100,000 | 5.00%, 12/01/2046 | $ 89,537 | |
| Pennsylvania Economic Dev Financing Auth, PA, Rev | |||
| 400,000 | 5.00%, 05/15/2036 | 411,944 | |
| 100,000 | 5.00%, 05/15/2038 | 100,879 | |
| Pennsylvania Higher Educational Facs Auth, PA, Rev | |||
| 250,000 | 5.00%, 05/01/2025 | 252,385 | |
| 750,000 | 5.00%, 05/01/2037 | 751,863 | |
| 320,000 | Pennsylvania Housing Finance Agency, PA, Rev 4.00%, 10/01/2038 | 316,173 | |
| 150,000 | Pennsylvania Turnpike Commission, PA, Rev 5.00%, 12/01/2030 | 156,720 | |
| Pittsburgh Water & Sewer Auth, PA, Rev, (AGM Insured) | |||
| 15,000 | 5.00%, 09/01/2034 | 15,735 | |
| 1,245,000 | 5.00%, 09/01/2036 | 1,331,085 | |
| 1,000,000 | 5.00%, 09/01/2037 | 1,055,793 | |
| School Dist of Philadelphia, PA, GO, (NATL State Aid Withholding Insured) | |||
| 280,000 | 5.00%, 06/01/2027 | 287,726 | |
| 610,000 | 5.00%, 09/01/2032 | 630,945 | |
| 875,000 | 5.00%, 09/01/2035(5) | 908,316 | |
| 590,000 | School Dist of the City of Erie, PA, GO, (AGM State Aid Withholding Insured) 5.00%, 04/01/2028 | 609,091 | |
| 375,000 | Wilkes-Barre Area School Dist, PA, GO, (BAM State Aid Withholding Insured) 5.00%, 04/15/2059 | 358,156 | |
| 21,510,729 | |||
| Puerto Rico - 1.6% | |||
| 2,950,000 | Commonwealth of Puerto Rico, PR, GO 5.63%, 07/01/2027 | 3,000,444 | |
| Puerto Rico Sales Tax Financing Corp., PR, Rev | |||
| 109,000 | 0.00%, 07/01/2024(4) | 105,615 | |
| 3,119,000 | 0.00%, 07/01/2029(4) | 2,397,347 | |
| 625,000 | 5.00%, 07/01/2058 | 545,630 | |
| 6,049,036 | |||
| Rhode Island - 0.3% | |||
| Rhode Island Student Loan Auth, RI, Rev | |||
| 400,000 | 5.00%, 12/01/2027 | 407,815 | |
| 765,000 | 5.00%, 12/01/2028 | 780,743 | |
| 1,188,558 | |||
| South Carolina - 0.9% | |||
| 580,000 | Piedmont Municipal Power Agency, SC, Rev 5.00%, 01/01/2025 | 584,256 | |
| 410,000 | SCAGO Educational Facs Corp. for Pickens School Dist, SC, Rev 5.00%, 12/01/2029 | 412,670 | |
| South Carolina Public Service Auth, SC, Rev | |||
| 500,000 | 4.00%, 12/01/2034 | 460,513 | |
| 625,000 | 4.00%, 12/01/2038 | 547,224 | |
| 175,000 | 5.00%, 12/01/2025 | 176,478 | |
| 1,260,000 | South Carolina State Housing Finance & Dev Auth, SC, Rev 5.75%, 01/01/2054 | 1,308,089 | |
| 3,489,230 | |||
| South Dakota - 0.2% | |||
| South Dakota Housing Dev Auth, SD, Rev | |||
| 465,000 | 4.50%, 11/01/2048 | 459,727 | |
| 290,000 | 6.00%, 05/01/2054 | 299,878 | |
| 759,605 | |||
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Tennessee - 1.2% | |||
| $ 110,000 | Chattanooga Health Educational & Housing Facs Board, TN, Rev 5.00%, 08/01/2044 | $ 103,876 | |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Board, TN, Rev | |||
| 1,175,000 | 5.00%, 07/01/2031 | 1,218,430 | |
| 835,000 | 5.00%, 07/01/2033(5) | 874,862 | |
| 515,000 | 5.00%, 05/01/2035 | 535,344 | |
| 195,000 | 5.00%, 05/01/2038 | 196,770 | |
| 590,000 | Metropolitan Nashville Airport Auth, TN, Rev 5.50%, 07/01/2040 | 606,605 | |
| Tennessee Energy Acquisition Corp., TN, Rev | |||
| 295,000 | 5.00%, 02/01/2025 | 294,027 | |
| 590,000 | 5.00%, 02/01/2027 | 580,005 | |
| 70,000 | Tennessee Housing Dev Agency, TN, Rev 4.00%, 01/01/2049 | 68,583 | |
| 4,478,502 | |||
| Texas - 14.1% | |||
| 3,325,000 | Alvin Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 02/15/2036 | 3,534,067 | |
| Arlington Higher Education Finance Corp., TX, Rev, (PSF-GTD Insured) | |||
| 450,000 | 5.00%, 08/15/2037 | 465,842 | |
| 805,000 | 5.00%, 08/15/2040 | 822,072 | |
| 160,000 | Austin-Bergstrom Landhost Enterprises, Inc., TX, Rev 5.00%, 10/01/2029 | 158,516 | |
| 1,065,000 | Boerne Independent School Dist, TX, GO, (PSF-GTD Insured) 3.13%, 02/01/2053 | 1,027,573 | |
| 500,000 | Brazos Higher Education Auth, Inc., TX, Rev 5.00%, 04/01/2025 | 502,100 | |
| Central Texas Regional Mobility Auth, TX, Rev | |||
| 1,425,000 | 4.00%, 01/01/2035 | 1,367,727 | |
| 505,000 | 4.00%, 01/01/2036 | 478,435 | |
| 1,490,000 | 5.00%, 01/01/2046 | 1,450,692 | |
| City of Austin Airport System, TX, Rev | |||
| 1,025,000 | 5.00%, 11/15/2032 | 1,048,901 | |
| 500,000 | 5.00%, 11/15/2039 | 487,213 | |
| City of Dallas Hotel Occupancy Tax, TX, Rev | |||
| 1,535,000 | 4.00%, 08/15/2033 | 1,423,473 | |
| 100,000 | 4.00%, 08/15/2034 | 91,785 | |
| 535,000 | City of Dallas, TX, GO 5.00%, 02/15/2028 | 553,046 | |
| City of Houston Hotel Occupancy Tax & Special, TX, Rev, (AGM-CR AMBAC Insured) | |||
| 750,000 | 0.00%, 09/01/2025(4) | 693,331 | |
| 425,000 | 4.00%, 09/01/2026 | 424,353 | |
| 1,135,000 | City of Houston, Combined Utility System, TX, Rev, (AGM Insured) 0.00%, 12/01/2024(4) | 1,084,656 | |
| City of San Antonio Electric & Gas Systems, TX, Rev | |||
| 555,000 | 1.75%, 02/01/2049 | 520,725 | |
| 290,000 | 5.00%, 02/01/2035 | 306,889 | |
| Clear Creek Independent School Dist, TX, GO, (PSF-GTD Insured) | |||
| 425,000 | 0.28%, 02/15/2038 | 411,561 | |
| 1,410,000 | 3.60%, 02/15/2035 | 1,393,874 | |
| 1,310,000 | Cypress-Fairbanks Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 02/15/2037(5) | 1,388,216 | |
| Dallas Fort Worth International Airport, TX, Rev | |||
| 1,500,000 | 5.00%, 11/01/2031 | 1,530,932 | |
| 1,500,000 | 5.00%, 11/01/2032 | 1,533,827 | |
| 1,000,000 | Eagle Mountain & Saginaw Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 08/15/2033 | 1,077,989 | |
| 1,495,000 | Fort Bend Independent School Dist, TX, GO, (PSF-GTD Insured) 3.65%, 08/01/2052(1) | 1,487,002 | |
| 21 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Texas - 14.1% - (continued) | |||
| $ 500,000 | Fort Worth Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 02/15/2033 | $ 541,909 | |
| 450,000 | Harris County Industrial Dev Corp., TX, Rev 4.05%, 11/01/2050(1) | 419,893 | |
| 615,000 | Harris County-Houston Sports Auth, TX, Rev 5.00%, 11/15/2033 | 615,340 | |
| 400,000 | Hidalgo County Regional Mobility Auth, TX, Rev 5.00%, 12/01/2030 | 404,176 | |
| 825,000 | Hutto Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 08/01/2036 | 878,392 | |
| 100,000 | Kerrville Health Facs Dev Corp., TX, Rev 5.00%, 08/15/2024 | 100,409 | |
| Lower Colorado River Auth, TX, Rev, (AGM Insured) | |||
| 1,665,000 | 5.00%, 05/15/2035 | 1,764,226 | |
| 675,000 | 5.00%, 05/15/2038 | 681,208 | |
| New Hope Cultural Education Facs Finance Corp., TX, Rev | |||
| 250,000 | 4.00%, 11/01/2055 | 175,184 | |
| 500,000 | 5.00%, 11/01/2046 | 359,294 | |
| 3,000,000 | North Texas Tollway Auth, TX, Rev 4.13%, 01/01/2040 | 2,671,663 | |
| Northside Independent School Dist, TX, GO, (PSF-GTD Insured) | |||
| 1,250,000 | 2.00%, 06/01/2052 | 1,148,024 | |
| 1,000,000 | 5.00%, 08/01/2036 | 1,059,209 | |
| 1,020,000 | 5.00%, 08/01/2038 | 1,064,062 | |
| Pasadena Independent School Dist, TX, GO, (PSF-GTD Insured) | |||
| 2,275,000 | 5.00%, 02/15/2040 | 2,363,904 | |
| 1,585,000 | 5.00%, 02/15/2041 | 1,639,631 | |
| 2,000,000 | San Antonio Water System, TX, Rev 1.00%, 05/01/2043 | 1,746,246 | |
| 3,000,000 | Sherman Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 02/15/2040 | 3,114,031 | |
| 500,000 | Southwest Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 02/01/2036(5) | 531,610 | |
| 2,055,000 | Texas Municipal Gas Acquisition & Supply Corp. I, TX, Rev 6.25%, 12/15/2026 | 2,094,600 | |
| 500,000 | Texas Public Finance Auth, TX, Rev 4.00%, 02/01/2034 | 487,768 | |
| 200,000 | Texas Transportation Commission State Highway 249 System, TX, Rev 0.00%, 08/01/2038(4) | 86,217 | |
| 2,000,000 | Texas Transportation Commission State Highway Fund, TX, Rev 0.43%, 04/01/2025 | 1,883,531 | |
| Uptown Dev Auth, TX, Tax Allocation | |||
| 220,000 | 4.00%, 09/01/2032 | 202,518 | |
| 250,000 | 4.00%, 09/01/2035 | 218,706 | |
| 51,516,548 | |||
| Utah - 1.2% | |||
| 1,000,000 | City of Salt Lake City Airport, UT, Rev 5.00%, 07/01/2029 | 1,016,284 | |
| 590,000 | County of Salt Lake, UT, Rev, (AMBAC Insured) 5.13%, 02/15/2033 | 596,494 | |
| 1,500,000 | County of Utah, UT, Rev 5.00%, 05/15/2045 | 1,464,092 | |
| 1,250,000 | Utah Transit Auth, UT, Rev, (AGM Insured) 5.25%, 06/15/2029 | 1,330,427 | |
| 4,407,297 | |||
| Virginia - 1.9% | |||
| 1,325,000 | Arlington County Industrial Dev Auth, VA, Rev 5.00%, 07/01/2053 | 1,370,521 | |
| 945,000 | Halifax County Industrial Dev Auth, VA, Rev 1.65%, 12/01/2041 | 924,845 | |
| 750,000 | Henrico County Economic Dev Auth, VA, Rev 5.00%, 10/01/2047 | 684,038 | |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 99.7% - (continued) | |||
| Virginia - 1.9% - (continued) | |||
| $ 850,000 | Virginia Commonwealth Transportation Board, VA, Rev 4.00%, 05/15/2030 | $ 841,894 | |
| Virginia Small Business Financing Auth, VA, Rev | |||
| 1,000,000 | 4.00%, 01/01/2033 | 909,138 | |
| 1,100,000 | 4.00%, 07/01/2034 | 986,181 | |
| 835,000 | 5.00%, 07/01/2035 | 840,279 | |
| 350,000 | 5.00%, 12/31/2047 | 329,570 | |
| 6,886,466 | |||
| Washington - 1.8% | |||
| 500,000 | King County School Dist No. 210 Federal Way, WA, GO, (School Board Guaranty Insured) 4.00%, 12/01/2036 | 467,114 | |
| 1,500,000 | Port of Seattle, WA, Rev 4.00%, 08/01/2040 | 1,279,754 | |
| State of Washington, WA, GO | |||
| 1,105,000 | 4.00%, 07/01/2035 | 1,062,225 | |
| 460,000 | 5.00%, 08/01/2044 | 468,117 | |
| Washington Health Care Facs Auth, WA, Rev | |||
| 1,500,000 | 4.00%, 08/01/2044 | 1,207,488 | |
| 1,725,000 | 5.00%, 10/01/2042 | 1,629,631 | |
| 500,000 | Washington State Housing Finance Commission, WA, Rev 5.00%, 01/01/2031(2) | 444,619 | |
| 6,558,948 | |||
| West Virginia - 0.6% | |||
| West Virginia Economic Dev Auth, WV, Rev | |||
| 390,000 | 2.55%, 03/01/2040 | 385,735 | |
| 1,870,000 | 3.75%, 12/01/2042 | 1,840,029 | |
| 2,225,764 | |||
| Wisconsin - 2.5% | |||
| Public Finance Auth, WI, Rev | |||
| 505,000 | 4.00%, 10/01/2041 | 394,555 | |
| 835,000 | 4.00%, 10/01/2046 | 797,967 | |
| 170,000 | 4.00%, 07/01/2050 | 134,259 | |
| 50,000 | 5.00%, 09/01/2025(2) | 48,972 | |
| 1,000,000 | 5.00%, 07/01/2036 | 1,010,078 | |
| 485,000 | 5.00%, 07/01/2038 | 452,532 | |
| 750,000 | 5.00%, 10/01/2043(2) | 613,015 | |
| 465,000 | 5.00%, 10/01/2044 | 435,366 | |
| 1,255,000 | 5.00%, 02/01/2052 | 1,086,718 | |
| 105,000 | 5.25%, 07/01/2038(2) | 100,137 | |
| 2,250,000 | 5.50%, 07/01/2043(2) | 2,140,846 | |
| University of Wisconsin Hospitals & Clinics, WI, Rev | |||
| 310,000 | 4.00%, 04/01/2035 | 289,162 | |
| 220,000 | 4.00%, 04/01/2039 | 195,085 | |
| 120,000 | Wisconsin Center Dist, WI, Rev, (AGM Insured) 0.00%, 12/15/2029(4) | 91,361 | |
| Wisconsin Health & Educational Facs Auth, WI, Rev | |||
| 595,000 | 4.00%, 08/15/2046 | 427,183 | |
| 500,000 | 4.00%, 01/01/2057 | 262,683 | |
| 840,000 | 5.00%, 11/01/2039 | 664,763 | |
| 200,000 | Wisconsin Housing & Economic Dev Auth Housing, WI, Rev, (HUD SECT 8) 0.50%, 11/01/2050 | 190,360 | |
| 9,335,042 | |||
| Total Municipal Bonds (cost $393,402,290) | $ 365,198,358 | ||
| 22 |
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT AGENCIES - 0.3% | |||
| Mortgage-Backed Agencies - 0.3% | |||
| Federal Home Loan Mortgage Corp. - 0.3% | |||
| $ 1,150,000 | 3.15%, 10/15/2036 | $ 894,187 | |
| Total U.S. Government Agencies (cost $1,170,889) | $ 894,187 | ||
| Total Long-Term Investments (cost $394,573,179) | $ 366,092,545 | ||
| SHORT-TERM INVESTMENTS - 0.3% | |||
| Repurchase Agreements - 0.3% | |||
| 1,213,866 | Fixed Income Clearing Corp. Repurchase Agreement dated 10/31/2023 at 5.28%, due on 11/01/2023 with a maturity value of $1,214,044; collateralized by U.S. Treasury Note at 0.75%, maturing 03/31/2026, with a market value of $1,238,186 | $ 1,213,866 | |
| Total Short-Term Investments (cost $1,213,866) | $ 1,213,866 | ||
| Total Investments (cost $395,787,045) | 100.3% | $ 367,306,411 | |
| Other Assets and Liabilities | (0.3)% | (977,175) | |
| Total Net Assets | 100.0% | $ 366,329,236 | |
| Note: | Percentage of investments as shown is the ratio of the total market value to total net assets. |
| The Fund may refer to any one or more of the industry classifications used by one or more widely recognized market indices, ratings group and/or as defined by Fund management. Industry classifications may not be identical across all security types. |
| (1) | Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| (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, 2023, the aggregate value of these securities was $7,894,361, representing 2.2% of net assets. |
| (3) | Variable rate securities; the rate reported is the coupon rate in effect at October 31, 2023. Base lending rates may be subject to a floor or cap. |
| (4) | Security is a zero-coupon bond. |
| (5) | 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 $9,213,447 at October 31, 2023. |
| † | For information regarding the Fund’s significant accounting policies, please refer to the Fund’s most recent shareholder report. |
| Description | Total | Level 1 | Level 2 | Level 3(1) | ||||
| Assets | ||||||||
| Municipal Bonds | $ 365,198,358 | $ — | $ 365,198,358 | $ — | ||||
| U.S. Government Agencies | 894,187 | — | 894,187 | — | ||||
| Short-Term Investments | 1,213,866 | — | 1,213,866 | — | ||||
| Total | $ 367,306,411 | $ — | $ 367,306,411 | $ — |
| (1) | For the period ended October 31, 2023, there were no transfers in and out of Level 3. |
| 23 |
| Shares or Principal Amount | Market Value† | ||
| COMMON STOCKS - 1.5% | |||
| Materials - 1.5% | |||
| 878 | Aclara Resources, Inc.* | $ 256 | |
| 4,300 | Newmont Corp. | 161,121 | |
| 4,800 | Pan American Silver Corp. | 70,128 | |
| Total Common Stocks (cost $252,097) | $ 231,505 | ||
| SHORT-TERM INVESTMENTS - 87.7% | |||
| Other Investment Pools & Funds - 4.5% | |||
| 705,415 | Morgan Stanley Institutional Liquidity Funds, Treasury Portfolio, Institutional Class, 5.25%(1) | $ 705,415 | |
| U.S. Treasury Securities - 83.2% | |||
| U.S. Treasury Bills - 83.2% | |||
| $ 1,850,000 | 2.66%, 11/02/2023(2) | 1,849,731 | |
| 1,620,000 | 5.13%, 11/21/2023(2) | 1,615,237 | |
| 1,540,000 | 5.18%, 11/24/2023(2) | 1,534,769 | |
| 1,540,000 | 5.21%, 11/30/2023(2) | 1,533,436 | |
| 950,000 | 5.25%, 12/07/2023(2) | 944,970 | |
| 900,000 | 5.29%, 12/14/2023(2) | 894,302 | |
| 1,660,000 | 5.40%, 01/11/2024(2) | 1,642,665 | |
| 2,050,000 | 5.42%, 02/22/2024(2) | 2,015,791 | |
| 1,030,000 | 5.44%, 02/29/2024(2) | 1,011,773 | |
| 13,042,674 | |||
| Total Short-Term Investments (cost $13,747,977) | $ 13,748,089 | ||
| Total Investments (cost $14,000,074) | 89.2% | $ 13,979,594 | |
| Other Assets and Liabilities | 10.8% | 1,689,436 | |
| Total Net Assets | 100.0% | $ 15,669,030 | |
| Note: | Percentage of investments as shown is the ratio of the total market value to total net assets. |
| The Fund may refer to any one or more of the industry classifications used by one or more widely recognized market indices, ratings group and/or as defined by Fund management. Industry classifications may not be identical across all security types. | |
| The Consolidated Schedule of Investments includes investments held by Hartford Schroders Cayman Commodity Strategy Fund, Ltd. (the “Subsidiary”), a wholly owned subsidiary of the Fund, which primarily invests in commodity-related instruments. The Fund may invest up to 25% of its total assets in the Subsidiary. As of October 31, 2023, the Fund invested 14.6% of its total assets in the Subsidiary. | |
| For Fund compliance purposes, the Fund may not use the same classification system. These classifications are used for financial reporting purposes. | |
| See “Glossary” for abbreviation descriptions. |
| * | Non-income producing. |
| (1) | Current yield as of period end. |
| (2) | The rate shown represents current yield to maturity. |
| Futures Contracts Outstanding at October 31, 2023 | ||||||||
| Description | Number of Contracts | Expiration Date | Current Notional Amount | Value and Unrealized Appreciation/ (Depreciation) | ||||
| Long position contracts: | ||||||||
| Brent Crude Oil Future | 15 | 11/30/2023 | $ 1,275,300 | $ (77,895) | ||||
| Coffee Future | 8 | 12/18/2023 | 501,900 | 35,491 | ||||
| Copper Future | 5 | 12/27/2023 | 456,125 | (1,525) | ||||
| Corn Future | 44 | 12/14/2023 | 1,053,250 | (22,544) | ||||
| Cotton No. 2 Future | 6 | 12/06/2023 | 243,660 | (5,170) | ||||
| Gasoline RBOB Future | 4 | 12/29/2023 | 371,565 | 3,970 | ||||
| Gold 100oz Future | 15 | 12/27/2023 | 2,991,450 | 151,904 | ||||
| Hard Red Winter Wheat Future | 8 | 12/14/2023 | 251,700 | (54,202) | ||||
| ICE Gas Oil Future | 6 | 01/11/2024 | 502,350 | 17,480 | ||||
| Lean Hogs Future | 10 | 12/14/2023 | 286,900 | (15,098) | ||||
| LME Lead Future | 3 | 11/13/2023 | 155,644 | (8,195) | ||||
| LME Nickel Future | 4 | 11/13/2023 | 430,224 | (41,235) | ||||
| LME Nickel Future | 3 | 01/15/2024 | 325,800 | (8,522) | ||||
| LME Primary Aluminum Future | 15 | 12/16/2024 | 888,056 | (123,336) | ||||
| LME Zinc Future | 8 | 11/13/2023 | 484,600 | (10,112) | ||||
| LME Zinc Future | 5 | 01/15/2024 | 303,439 | (7,156) | ||||
| Natural Gas Future | 38 | 12/27/2023 | 1,448,940 | (2,899) | ||||
| NY Harbor ULSD Future | 3 | 12/29/2023 | 359,869 | 3,255 | ||||
| Primary Aluminum Future | 17 | 11/13/2023 | 955,676 | 17,876 | ||||
| Primary Aluminum Future | 11 | 01/15/2024 | 618,860 | 6,009 | ||||
| Silver Future | 6 | 12/27/2023 | 688,560 | 4,174 | ||||
| Soybean Future | 2 | 01/12/2024 | 131,050 | 887 | ||||
| Soybean Meal Future | 5 | 01/12/2024 | 209,000 | 14,833 | ||||
| Soybean Oil Future | 13 | 01/12/2024 | 396,474 | (8,134) | ||||
| 24 |
| Futures Contracts Outstanding at October 31, 2023 – (continued) | ||||||||
| Description | Number of Contracts | Expiration Date | Current Notional Amount | Value and Unrealized Appreciation/ (Depreciation) | ||||
| Long position contracts – (continued): | ||||||||
| Wheat Future | 16 | 12/14/2023 | $ 445,000 | $ (84,792) | ||||
| World Sugar No. 11 Future | 10 | 02/29/2024 | 303,408 | (5,754) | ||||
| WTI Crude Future | 25 | 12/19/2023 | 2,012,500 | (81,312) | ||||
| Total | $ (302,002) | |||||||
| Short position contracts: | ||||||||
| LME Lead Future | 3 | 11/13/2023 | $ 155,644 | $ 10,329 | ||||
| LME Nickel Future | 4 | 11/13/2023 | 430,224 | 25,195 | ||||
| LME Nickel Future | 1 | 01/15/2024 | 108,600 | (811) | ||||
| LME Primary Aluminum Future | 15 | 12/16/2024 | 888,056 | 44,889 | ||||
| LME Zinc Future | 8 | 11/13/2023 | 484,600 | 5,928 | ||||
| Primary Aluminum Future | 17 | 11/13/2023 | 955,676 | (20,311) | ||||
| Total | $ 65,219 | |||||||
| Total futures contracts | $ (236,783) | |||||||
| Description | Total | Level 1 | Level 2 | Level 3(1) | ||||
| Assets | ||||||||
| Common Stocks | ||||||||
| Materials | $ 231,505 | $ 231,505 | $ — | $ — | ||||
| Short-Term Investments | 13,748,089 | 705,415 | 13,042,674 | — | ||||
| Futures Contracts(2) | 342,220 | 342,220 | — | — | ||||
| Total | $ 14,321,814 | $ 1,279,140 | $ 13,042,674 | $ — | ||||
| Liabilities | ||||||||
| Futures Contracts(2) | $ (579,003) | $ (579,003) | $ — | $ — | ||||
| Total | $ (579,003) | $ (579,003) | $ — | $ — |
| (1) | For the period ended October 31, 2023, 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. |
| 25 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 2.3% | |||
| Commercial Banks - 1.4% | |||
| $ 200,000 | AIB Group PLC 6.61%, 09/13/2029, (6.61% fixed rate until 09/13/2028; 6 mo. USD SOFR + 2.33% thereafter)(1)(2) | $ 195,718 | |
| 400,000 | Banco Santander SA 1.72%, 09/14/2027, (1.72% fixed rate until 09/14/2026; 1 yr. USD CMT + 0.90% thereafter)(2) | 346,691 | |
| 335,000 | Barclays PLC 7.33%, 11/02/2026, (7.32% fixed rate until 11/02/2025; 1 yr. USD CMT + 3.05% thereafter)(2) | 338,857 | |
| 621,000 | Lloyds Banking Group PLC 5.99%, 08/07/2027, (5.99% fixed rate until 08/07/2026; 1 yr. USD CMT + 1.48% thereafter)(2) | 612,166 | |
| 264,000 | NatWest Group PLC 7.47%, 11/10/2026, (7.47% fixed rate until 11/10/2025; 1 yr. USD CMT + 2.85% thereafter)(2) | 268,612 | |
| 757,000 | UniCredit SpA 1.98%, 06/03/2027, (1.98% fixed rate until 06/03/2026; 1 yr. USD CMT + 1.20% thereafter)(1)(2) | 667,880 | |
| 2,429,924 | |||
| Diversified Financial Services - 0.7% | |||
| 1,425,000 | AerCap Ireland Capital DAC/AerCap Global Aviation Trust 2.45%, 10/29/2026 | 1,267,499 | |
| Semiconductors - 0.2% | |||
| 273,000 | Qorvo, Inc. 1.75%, 12/15/2024(1) | 257,432 | |
| Total Corporate Bonds (cost $4,272,206) | $ 3,954,855 | ||
| MUNICIPAL BONDS - 83.5% | |||
| Alabama - 2.3% | |||
| Black Belt Energy Gas Dist, AL, Rev | |||
| 920,000 | 4.00%, 10/01/2049 | $ 891,448 | |
| 1,765,000 | 4.00%, 06/01/2051 | 1,623,568 | |
| 685,000 | 5.25%, 12/01/2053 | 690,145 | |
| 715,000 | Town of Pike Road, AL, GO 5.00%, 03/01/2052 | 721,356 | |
| 3,926,517 | |||
| Arizona - 0.6% | |||
| 1,000,000 | City of Phoenix Civic Improvement Corp., AZ, Rev 5.25%, 07/01/2047(3) | 1,039,292 | |
| California - 9.3% | |||
| 205,000 | Alameda Corridor Transportation Auth, CA, Rev, (AGM Insured) 5.00%, 10/01/2052 | 204,728 | |
| 210,000 | California Community Choice Financing Auth, CA, Rev 5.00%, 02/01/2054 | 209,204 | |
| 240,000 | Central Unified School Dist, CA, GO 4.00%, 08/01/2050 | 205,986 | |
| 625,000 | Del Mar Union School Dist, CA, GO 4.00%, 08/01/2046 | 551,216 | |
| 565,000 | Fresno Unified School Dist, CA, GO 4.00%, 08/01/2052 | 480,370 | |
| 1,585,000 | Golden State Tobacco Securitization Corp., CA, Rev, (ST APPROP Insured) 3.00%, 06/01/2046 | 1,397,462 | |
| 2,310,000 | Moreno Valley Unified School Dist, CA, GO, (AGM Insured) 4.13%, 08/01/2050 | 2,031,688 | |
| 765,000 | Oxnard School Dist, CA, GO, (BAM Insured) 4.25%, 08/01/2053 | 667,948 | |
| 450,000 | Pittsburg Unified School Dist, CA, GO, (AGM Insured) 4.25%, 08/01/2049 | 402,109 | |
| Redwood City School Dist, CA, Rev | |||
| 595,000 | 5.00%, 08/01/2048 | 616,800 | |
| 530,000 | 5.00%, 08/01/2052 | 546,912 | |
| 1,205,000 | Regents of the University of California Medical Center Pooled, CA, Rev 4.00%, 05/15/2053 | 1,022,341 | |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 83.5% - (continued) | |||
| California - 9.3% - (continued) | |||
| $ 490,000 | Rialto Unified School Dist, CA, GO, (BAM Insured) 5.00%, 08/01/2052 | $ 490,806 | |
| 120,000 | San Diego County Regional Airport Auth, CA, Rev 5.00%, 07/01/2053 | 120,986 | |
| 1,260,000 | San Diego Housing Auth, Inc., CA, Rev 5.00%, 05/01/2057(3) | 1,276,445 | |
| 60,000 | San Diego Unified School Dist, CA, GO 4.55%, 07/01/2052 | 56,555 | |
| 935,000 | San Francisco Bay Area Rapid Transit Dist, CA, GO 4.25%, 08/01/2052 | 823,693 | |
| 105,000 | San Francisco Community College Dist, CA, GO 2.02%, 06/15/2029 | 87,176 | |
| 1,215,000 | San Mateo Foster City School Dist, CA, GO 4.00%, 08/01/2051 | 1,062,168 | |
| 970,000 | Sweetwater Union High School Dist, CA, GO 5.00%, 08/01/2052 | 979,059 | |
| 865,000 | Victor Valley Community College Dist, CA, GO 4.00%, 08/01/2050 | 739,888 | |
| 1,660,000 | Vista Unified School Dist, CA, GO, (BAM Insured) 5.25%, 08/01/2048 | 1,709,836 | |
| Washington Township Health Care Dist, CA, GO, (AGM Insured) | |||
| 70,000 | 4.50%, 08/01/2053 | 65,443 | |
| 125,000 | 5.50%, 08/01/2053 | 131,059 | |
| 15,879,878 | |||
| Colorado - 1.3% | |||
| 715,000 | Adams County Housing Auth, CO, Rev 4.50%, 05/01/2042 | 714,990 | |
| 575,000 | City & County of Denver Airport System, CO, Rev 5.25%, 11/15/2053 | 589,058 | |
| 535,000 | City of Colorado Springs Utilities System, CO, Rev 4.00%, 11/15/2051 | 448,015 | |
| 405,000 | Colorado Housing & Finance Auth, CO, Rev, (GNMA/FNMA/FHLMC Insured) 3.50%, 05/01/2050 | 388,499 | |
| 2,140,562 | |||
| Connecticut - 0.1% | |||
| 140,000 | Connecticut Housing Finance Auth, CT, Rev, (GNMA/FNMA/FHLMC Insured) 4.25%, 05/15/2042 | 137,842 | |
| District of Columbia - 1.2% | |||
| 2,090,000 | Dist of Columbia Water & Sewer Auth, DC, Rev 4.00%, 10/01/2047 | 1,772,982 | |
| 340,000 | Metropolitan Washington Airports Auth, Dulles Toll Road, DC, Rev 5.00%, 10/01/2034 | 346,043 | |
| 2,119,025 | |||
| Florida - 1.4% | |||
| 2,745,000 | County of Broward Convention Center Hotel, FL, Rev 4.00%, 01/01/2051 | 2,254,361 | |
| Florida Housing Finance Corp., FL, Rev, (GNMA/FNMA/FHLMC Insured) | |||
| 65,000 | 3.00%, 07/01/2051 | 61,530 | |
| 105,000 | 3.50%, 07/01/2051 | 100,860 | |
| 45,000 | 4.00%, 07/01/2049 | 44,227 | |
| 2,460,978 | |||
| Georgia - 2.3% | |||
| Main Street Natural Gas, Inc., GA, Rev | |||
| 435,000 | 4.00%, 08/01/2048 | 434,951 | |
| 1,565,000 | 4.00%, 03/01/2050 | 1,520,294 | |
| 485,000 | 4.00%, 05/01/2052 | 454,764 | |
| 1,525,000 | 5.00%, 12/01/2053 | 1,513,422 | |
| 3,923,431 | |||
| 26 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 83.5% - (continued) | |||
| Hawaii - 0.1% | |||
| $ 95,000 | City & County Honolulu Wastewater System, HI, Rev 5.25%, 07/01/2053 | $ 97,666 | |
| Illinois - 1.2% | |||
| Illinois Housing Dev Auth, IL, Rev, (GNMA/FNMA/FHLMC Insured) | |||
| 450,000 | 3.00%, 10/01/2051 | 420,561 | |
| 785,000 | 3.75%, 04/01/2050 | 756,681 | |
| 815,000 | 4.00%, 10/01/2049 | 794,058 | |
| 70,000 | 4.50%, 10/01/2048 | 69,017 | |
| 2,040,317 | |||
| Indiana - 0.9% | |||
| Indiana Housing & Community Dev Auth, IN, Rev, (GNMA/FNMA/FHLMC Insured) | |||
| 920,000 | 3.00%, 07/01/2050 | 867,473 | |
| 75,000 | 4.00%, 07/01/2048 | 73,543 | |
| 705,000 | Indianapolis Local Public Improvement Bond Bank, IN, Rev 5.00%, 01/01/2053 | 675,598 | |
| 1,616,614 | |||
| Iowa - 1.6% | |||
| Iowa Finance Auth, IA, Rev, (GNMA/FNMA/FHLMC Insured) | |||
| 1,045,000 | 3.00%, 01/01/2047 | 981,121 | |
| 1,805,000 | 3.00%, 07/01/2051 | 1,673,949 | |
| 80,000 | 3.25%, 07/01/2050 | 76,045 | |
| 40,000 | 4.00%, 07/01/2048 | 39,237 | |
| 2,770,352 | |||
| Kentucky - 0.3% | |||
| 600,000 | Kentucky Public Energy Auth, KY, Rev 4.00%, 12/01/2049 | 589,549 | |
| Louisiana - 1.4% | |||
| 20,000 | Louisiana Housing Corp., LA, Rev 4.50%, 12/01/2047 | 19,752 | |
| 1,385,000 | Louisiana Local Government Environmental Facs & Community Dev Auth, LA, Rev 2.50%, 04/01/2036 | 1,027,669 | |
| 1,255,000 | Louisiana Stadium & Exposition Dist, LA, Rev 5.25%, 07/01/2053 | 1,257,033 | |
| 2,304,454 | |||
| Maryland - 0.3% | |||
| 625,000 | Maryland State Transportation Auth, MD, Rev 4.00%, 07/01/2050 | 520,196 | |
| Massachusetts - 0.9% | |||
| Commonwealth of Massachusetts, MA, GO | |||
| 120,000 | 3.00%, 02/01/2048 | 80,613 | |
| 550,000 | 5.00%, 05/01/2053 | 554,909 | |
| 1,180,000 | Massachusetts Bay Transportation Auth Sales Tax, MA, Rev 4.00%, 07/01/2053 | 973,347 | |
| 1,608,869 | |||
| Michigan - 4.5% | |||
| 700,000 | Cedar Springs Public School Dist, MI, GO, (Q-SBLF Insured) 4.50%, 05/01/2049 | 626,360 | |
| 770,000 | Ferndale Public Schools, MI, GO, (Q-SBLF Insured) 5.00%, 05/01/2053 | 751,274 | |
| 1,500,000 | Fraser Public School Dist, MI, GO, (Q-SBLF Insured) 5.00%, 05/01/2048 | 1,452,659 | |
| Grosse Ile Township School Dist, MI, GO, (Q-SBLF Insured) | |||
| 540,000 | 5.00%, 05/01/2049 | 524,883 | |
| 625,000 | 5.00%, 05/01/2052 | 602,090 | |
| 60,000 | Michigan State Housing Dev Auth, MI, Rev 3.75%, 06/01/2050 | 58,048 | |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 83.5% - (continued) | |||
| Michigan - 4.5% - (continued) | |||
| $ 420,000 | State of Michigan Trunk Line, MI, Rev 4.00%, 11/15/2038 | $ 387,074 | |
| 1,540,000 | Troy School Dist, MI, GO, (Q-SBLF Insured) 5.00%, 05/01/2052 | 1,548,168 | |
| 1,750,000 | Wayne County Airport Auth, MI, Rev, (AGM Insured) 5.25%, 12/01/2048 | 1,781,464 | |
| 7,732,020 | |||
| Minnesota - 2.5% | |||
| 250,000 | Hennepin County Housing & Redev Auth, MN, Rev, (HUD SECT 8 FHA 221(D)(4)) 4.65%, 10/01/2026 | 249,902 | |
| 180,000 | Housing & Redev Auth of The City of St Paul Minnesota, MN, Rev, (HUD SECT 8) 3.50%, 12/01/2025 | 178,450 | |
| 435,000 | Minneapolis-St Paul Metropolitan Airports Commission, MN, Rev 4.25%, 01/01/2052 | 367,459 | |
| 3,680,000 | Minnesota Housing Finance Agency, MN, Rev, (GNMA/FNMA/FHLMC Insured) 3.00%, 01/01/2051 | 3,487,410 | |
| 4,283,221 | |||
| Mississippi - 0.7% | |||
| Mississippi Home Corp., MS, Rev, (GNMA/FNMA/FHLMC/COLL Insured) | |||
| 1,110,000 | 3.00%, 12/01/2050 | 1,047,297 | |
| 215,000 | 3.25%, 12/01/2050 | 204,941 | |
| 1,252,238 | |||
| Missouri - 0.7% | |||
| Missouri Housing Dev Commission, MO, Rev, (GNMA/FNMA/FHLMC Insured) | |||
| 365,000 | 3.25%, 05/01/2051 | 346,060 | |
| 160,000 | 3.50%, 11/01/2050 | 153,085 | |
| 230,000 | 3.88%, 05/01/2050 | 222,892 | |
| 90,000 | 4.25%, 05/01/2049 | 88,479 | |
| 70,000 | 4.75%, 05/01/2049 | 69,442 | |
| 385,000 | St. Charles County Francis Howell R-III School Dist, MO, GO 2.00%, 03/01/2037 | 258,987 | |
| 1,138,945 | |||
| Nebraska - 0.3% | |||
| Nebraska Investment Finance Auth, NE, Rev, (GNMA/FNMA/FHLMC Insured) | |||
| 505,000 | 3.00%, 09/01/2050 | 474,949 | |
| 65,000 | 4.00%, 09/01/2048 | 63,536 | |
| 538,485 | |||
| Nevada - 0.1% | |||
| 90,000 | Nevada Housing Division, NV, Rev, (GNMA/FNMA/FHLMC/COLL Insured) 4.00%, 10/01/2049 | 87,664 | |
| New Jersey - 0.2% | |||
| 90,000 | New Jersey Economic Dev Auth, NJ, Rev 5.00%, 11/01/2026 | 92,288 | |
| New Jersey Transportation Trust Fund Auth, NJ, Rev | |||
| 25,000 | 4.00%, 06/15/2035 | 23,614 | |
| 150,000 | 5.00%, 12/15/2028 | 156,706 | |
| 272,608 | |||
| New Mexico - 0.6% | |||
| New Mexico Mortgage Finance Auth, NM, Rev, (GNMA/FNMA/FHLMC Insured) | |||
| 815,000 | 3.00%, 01/01/2051 | 765,558 | |
| 220,000 | 3.00%, 01/01/2052 | 205,707 | |
| 135,000 | 4.00%, 01/01/2049 | 131,859 | |
| 1,103,124 | |||
| 27 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 83.5% - (continued) | |||
| New York - 8.2% | |||
| $ 1,130,000 | City of New York, NY, GO 4.00%, 04/01/2050 | $ 950,034 | |
| New York City Municipal Water Finance Auth, NY, Rev | |||
| 560,000 | 5.25%, 06/15/2047 | 578,928 | |
| 1,240,000 | 5.25%, 06/15/2053 | 1,275,088 | |
| New York City Transitional Finance Auth, Future Tax Secured, NY, Rev | |||
| 445,000 | 4.00%, 08/01/2048 | 375,811 | |
| 1,890,000 | 4.00%, 02/01/2051 | 1,583,689 | |
| 225,000 | New York City Transitional Finance Auth, NY, Rev 4.38%, 05/01/2053 | 196,073 | |
| 5,000,000 | New York Power Auth, NY, Rev, (AGM Insured) 5.00%, 11/15/2053(3) | 4,975,803 | |
| 950,000 | New York State Dormitory Auth, NY, Rev 3.00%, 03/15/2038 | 739,827 | |
| 310,000 | New York State Environmental Facs Corp., NY, Rev 5.25%, 09/15/2052 | 319,976 | |
| 125,000 | New York Transportation Dev Corp., NY, Rev 5.00%, 12/01/2028 | 128,428 | |
| 230,000 | Rockland County Industrial Dev Agency, NY, Rev, (HUD SECT 8) 4.65%, 05/01/2027 | 229,901 | |
| 1,560,000 | Triborough Bridge & Tunnel Auth Sales Tax, NY, Rev 5.00%, 05/15/2053 | 1,562,147 | |
| Triborough Bridge & Tunnel Auth, NY, Rev | |||
| 605,000 | 4.50%, 05/15/2052 | 556,328 | |
| 500,000 | 5.00%, 11/15/2038 | 520,907 | |
| 13,992,940 | |||
| North Carolina - 0.5% | |||
| 240,000 | Asheville Housing Auth, NC, Rev, (HUD SECT 8) 5.00%, 11/01/2026 | 241,426 | |
| 680,000 | North Carolina Housing Finance Agency, NC, Rev, (GNMA/FNMA/FHLMC Insured) 4.00%, 07/01/2050 | 661,039 | |
| 902,465 | |||
| Ohio - 2.7% | |||
| 3,015,000 | Fairborn City School Dist, OH, GO 5.25%, 12/01/2053 | 3,053,044 | |
| Ohio Housing Finance Agency, OH, Rev | |||
| 130,000 | 3.00%, 03/01/2052 | 122,023 | |
| 1,040,000 | 3.25%, 03/01/2050 | 989,046 | |
| 20,000 | 4.50%, 09/01/2048 | 19,755 | |
| 295,000 | Ohio Turnpike & Infrastructure Commission, OH, Rev 0.00%, 02/15/2041(4) | 118,888 | |
| 300,000 | Ohio Water Dev Auth Water Pollution Control Loan Fund, OH, Rev 5.00%, 12/01/2037 | 318,345 | |
| 4,621,101 | |||
| Oklahoma - 1.8% | |||
| 130,000 | Oklahoma Housing Finance Agency, OK, Rev, (GNMA/FNMA/FHLMC Insured) 4.00%, 03/01/2050 | 125,899 | |
| 2,800,000 | Oklahoma Water Res Board, OK, Rev 5.25%, 10/01/2053(3) | 2,877,888 | |
| 3,003,787 | |||
| Pennsylvania - 0.5% | |||
| 600,000 | Allegheny County Airport Auth, PA, Rev, (AGM Insured) 5.25%, 01/01/2053 | 600,759 | |
| 145,000 | Allegheny County Sanitary Auth, PA, Rev 5.00%, 06/01/2053 | 142,869 | |
| 110,000 | Geisinger Auth, PA, Rev 5.00%, 02/15/2032 | 111,910 | |
| 855,538 | |||
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 83.5% - (continued) | |||
| South Carolina - 1.9% | |||
| $ 3,135,000 | Patriots Energy Group Financing Agency, SC, Rev 5.25%, 10/01/2054 | $ 3,120,666 | |
| 45,000 | Tobacco Settlement Management Auth, SC, Rev 6.38%, 05/15/2030 | 50,525 | |
| 3,171,191 | |||
| Tennessee - 1.1% | |||
| 515,000 | County of Putnam, TN, GO 2.00%, 04/01/2037 | 349,550 | |
| 75,000 | Jackson Health Educational & Housing Facility Board, TN, Rev, (HUD SECT 8) 3.00%, 12/01/2026 | 73,913 | |
| 410,000 | Knoxville's Community Dev Corp., TN, Rev, (HUD SECT 8) 4.25%, 10/01/2024 | 408,306 | |
| 15,000 | Metropolitan Government Nashville & Davidson County Health & Educational Facs Board, TN, Rev, (NATL Insured) 4.88%, 11/01/2028 | 15,331 | |
| 305,000 | Metropolitan Nashville Airport Auth, TN, Rev 5.00%, 07/01/2052 | 292,898 | |
| 705,000 | Tennergy Corp., TN, Rev 4.00%, 12/01/2051 | 664,682 | |
| 60,000 | Tennessee Housing Dev Agency, TN, Rev 4.50%, 07/01/2049 | 59,204 | |
| 1,863,884 | |||
| Texas - 31.1% | |||
| 610,000 | Alvarado Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/15/2052 | 498,038 | |
| Arlington Higher Education Finance Corp., TX, Rev, (PSF-GTD Insured) | |||
| 700,000 | 4.25%, 12/01/2048 | 579,407 | |
| 200,000 | 4.25%, 12/01/2053 | 161,876 | |
| 680,000 | 5.00%, 08/15/2033 | 711,562 | |
| 200,000 | 5.00%, 08/15/2048 | 196,361 | |
| Bexar County Hospital Dist, TX, GO | |||
| 635,000 | 4.25%, 02/15/2052 | 546,247 | |
| 1,405,000 | 4.25%, 02/15/2053 | 1,199,001 | |
| 280,000 | Bexar County Housing Finance Corp., TX, Rev 4.05%, 03/01/2028 | 274,037 | |
| 1,235,000 | Bullard Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/15/2052 | 1,015,451 | |
| 4,825,000 | Chapel Hill Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 02/15/2048 | 4,884,269 | |
| 390,000 | City of Georgetown Utility System, TX, Rev, (BAM Insured) 5.25%, 08/15/2053 | 394,099 | |
| 350,000 | City of Houston, TX, GO 5.00%, 03/01/2038 | 365,913 | |
| 790,000 | Cleburne Independent School Dist, TX, GO, (PSF-GTD Insured) 3.00%, 02/15/2046 | 529,723 | |
| Clifton Higher Education Finance Corp., TX, Rev, (PSF-GTD Insured) | |||
| 545,000 | 4.25%, 04/01/2053 | 445,659 | |
| 80,000 | 5.00%, 08/15/2029 | 84,685 | |
| 765,000 | College of the Mainland, TX, GO 4.00%, 08/15/2049 | 616,619 | |
| 1,190,000 | Columbia-Brazoria Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/01/2053 | 994,357 | |
| Community Independent School Dist, TX, GO, (PSF-GTD Insured) | |||
| 330,000 | 5.00%, 02/15/2048 | 334,299 | |
| 905,000 | 5.00%, 02/15/2053 | 913,440 | |
| 505,000 | County of Harris, TX, GO 5.00%, 10/01/2038 | 514,463 | |
| 825,000 | Dallas Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/15/2053 | 688,385 | |
| 2,165,000 | Denison Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 08/01/2053 | 1,774,426 | |
| 4,780,000 | Denton Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 08/15/2053 | 4,815,931 | |
| 28 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 83.5% - (continued) | |||
| Texas - 31.1% - (continued) | |||
| $ 3,065,000 | Dickinson Independent School Dist, TX, GO, (PSF-GTD Insured) 4.25%, 02/15/2053 | $ 2,640,826 | |
| 375,000 | Donna Independent School Dist, TX, GO, (PSF-GTD Insured) 4.13%, 02/15/2053 | 314,900 | |
| 2,405,000 | Forney Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 08/15/2053 | 1,984,783 | |
| 380,000 | Fort Worth Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/15/2048 | 325,222 | |
| 690,000 | Georgetown Independent School Dist, TX, GO, (PSF-GTD Insured) 2.50%, 08/15/2037 | 504,741 | |
| 1,085,000 | Katy Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/15/2053 | 898,999 | |
| 1,390,000 | Lakeside Place PFC, TX, Rev, (FHA 221(D4)) 4.15%, 11/01/2026 | 1,381,197 | |
| Lamar Consolidated Independent School Dist, TX, GO, (PSF-GTD Insured) | |||
| 365,000 | 3.00%, 02/15/2051 | 231,250 | |
| 1,090,000 | 4.00%, 02/15/2048 | 926,813 | |
| 1,030,000 | Liberty Hill Independent School Dist, TX, GO, (PSF-GTD Insured) 4.13%, 02/01/2053 | 881,336 | |
| 590,000 | Lockhart Independent School Dist, TX, GO, (PSF-GTD Insured) 4.13%, 08/01/2053 | 495,594 | |
| 2,165,000 | Medina Valley Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/15/2053 | 1,796,556 | |
| Montgomery Independent School Dist, TX, GO, (PSF-GTD Insured) | |||
| 115,000 | 4.00%, 02/15/2053 | 93,274 | |
| 745,000 | 4.25%, 02/15/2052 | 635,534 | |
| 4,515,000 | New Caney Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 02/15/2053 | 4,552,434 | |
| 20,000 | Newark Higher Education Finance Corp., TX, Rev, (PSF-GTD Insured) 5.00%, 08/15/2052 | 19,560 | |
| Northwest Independent School Dist, TX, GO, (PSF-GTD Insured) | |||
| 990,000 | 4.13%, 08/15/2053 | 831,593 | |
| 465,000 | 5.00%, 02/15/2048 | 470,841 | |
| 1,250,000 | Pewitt Consolidated Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/15/2053 | 1,025,586 | |
| 3,210,000 | Prosper Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/15/2053 | 2,655,913 | |
| 435,000 | Rockwall Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/15/2053 | 358,554 | |
| 1,105,000 | Royal Independent School Dist, TX, GO, (PSF-GTD Insured) 4.25%, 02/15/2053 | 941,964 | |
| 185,000 | Sabine-Neches Navigation Dist, TX, GO 5.25%, 02/15/2052 | 187,202 | |
| 915,000 | Sherman Independent School Dist, TX, GO, (PSF-GTD Insured) 5.00%, 02/15/2053 | 923,533 | |
| 1,930,000 | Southwest Independent School Dist, TX, GO, (PSF-GTD Insured) 4.00%, 02/01/2053 | 1,604,283 | |
| 805,000 | Temple Independent School Dist, TX, GO, (PSF-GTD Insured) 4.25%, 02/01/2047 | 706,998 | |
| Texas Department of Housing & Community Affairs, TX, Rev, (GNMA Insured) | |||
| 625,000 | 3.00%, 01/01/2052 | 583,779 | |
| 275,000 | 3.50%, 03/01/2051 | 261,028 | |
| 100,000 | 4.00%, 03/01/2050 | 96,736 | |
| 50,000 | 4.75%, 03/01/2049 | 49,655 | |
| 330,000 | Texas Municipal Gas Acquisition & Supply Corp. III, TX, Rev 5.00%, 12/15/2028 | 325,707 | |
| 160,000 | Texas Natural Gas Securitization Finance Corp., TX, Rev 5.17%, 04/01/2041 | 147,929 | |
| Texas Water Dev Board, TX, Rev | |||
| 285,000 | 4.80%, 10/15/2052 | 273,005 | |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 83.5% - (continued) | |||
| Texas - 31.1% - (continued) | |||
| $ 1,135,000 | 5.25%, 10/15/2051 | $ 1,167,948 | |
| 440,000 | White Settlement Independent School Dist, TX, GO, (PSF-GTD Insured) 4.13%, 08/15/2052 | 367,117 | |
| 53,200,638 | |||
| Virginia - 0.8% | |||
| 365,000 | Hampton Roads Transportation Accountability Commission, VA, Rev 4.00%, 07/01/2052 | 307,404 | |
| 1,150,000 | Loudoun County Economic Dev Auth, VA, Rev 4.00%, 10/01/2052 | 979,921 | |
| 1,287,325 | |||
| Washington - 0.1% | |||
| 150,000 | Washington State Housing Finance Commission, WA, Rev, (GNMA/FNMA/FHLMC Insured) 4.00%, 12/01/2048 | 146,931 | |
| Wyoming - 0.0% | |||
| 60,000 | Wyoming Community Dev Auth, WY, Rev 4.00%, 06/01/2043 | 58,830 | |
| Total Municipal Bonds (cost $155,159,463) | $ 142,688,477 | ||
| U.S. GOVERNMENT SECURITIES - 5.7% | |||
| U.S. Treasury Securities - 5.7% | |||
| U.S. Treasury Bonds - 5.1% | |||
| 10,907,000 | 3.63%, 08/15/2043 | $ 8,749,033 | |
| U.S. Treasury Notes - 0.6% | |||
| 753,000 | 4.63%, 09/15/2026 | 747,411 | |
| 224,000 | 4.75%, 07/31/2025 | 222,504 | |
| 969,915 | |||
| Total U.S. Government Securities (cost $9,751,043) | $ 9,718,948 | ||
| Total Long-Term Investments (cost $169,182,712) | $ 156,362,280 | ||
| SHORT-TERM INVESTMENTS - 13.5% | |||
| Other Investment Pools & Funds - 6.0% | |||
| 10,276,470 | Morgan Stanley Institutional Liquidity Funds, Treasury Portfolio, Institutional Class, 5.25%(5) | $ 10,276,470 | |
| U.S. Treasury Securities - 7.5% | |||
| U.S. Treasury Bills - 7.5% | |||
| 944,000 | 5.43%, 03/14/2024(6) | 925,334 | |
| 3,270,000 | 5.43%, 03/14/2024(6) | 3,205,341 | |
| 385,000 | 5.44%, 03/14/2024(6) | 377,387 | |
| 917,000 | 5.45%, 03/14/2024(6) | 898,868 | |
| 1,634,000 | 5.45%, 03/14/2024(6) | 1,601,690 | |
| 4,988,000 | 5.45%, 03/14/2024(6) | 4,889,370 | |
| 885,000 | 5.45%, 03/14/2024(6) | 867,501 | |
| 12,765,491 | |||
| Total Short-Term Investments (cost $23,042,466) | $ 23,041,961 | ||
| Total Investments (cost $192,225,178) | 105.0% | $ 179,404,241 | |
| Other Assets and Liabilities | (5.0)% | (8,512,284) | |
| Total Net Assets | 100.0% | $ 170,891,957 | |
| Note: | Percentage of investments as shown is the ratio of the total market value to total net assets. |
| 29 |
| The Fund may refer to any one or more of the industry classifications used by one or more widely recognized market indices, ratings group and/or as defined by Fund management. Industry classifications may not be identical across all security types. | |
| For Fund compliance purposes, the Fund may not use the same classification system. These classifications are used for financial reporting purposes. | |
| See “Glossary” for abbreviation descriptions. |
| (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, 2023, the aggregate value of these securities was $1,121,030, representing 0.7% of net assets. |
| (2) | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at October 31, 2023. Rate will reset at a future date. Base lending rates may be subject to a floor or cap. |
| (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 $10,136,461 at October 31, 2023. |
| (4) | Security is a zero-coupon bond. |
| (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 shareholder report. |
| Description | Total | Level 1 | Level 2 | Level 3(1) | ||||
| Assets | ||||||||
| Corporate Bonds | $ 3,954,855 | $ — | $ 3,954,855 | $ — | ||||
| Municipal Bonds | 142,688,477 | — | 142,688,477 | — | ||||
| U.S. Government Securities | 9,718,948 | — | 9,718,948 | — | ||||
| Short-Term Investments | 23,041,961 | 10,276,470 | 12,765,491 | — | ||||
| Total | $ 179,404,241 | $ 10,276,470 | $ 169,127,771 | $ — |
| (1) | For the period ended October 31, 2023, there were no transfers in and out of Level 3. |
| 30 |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 14.0% | |||
| Asset-Backed - Automobile - 0.5% | |||
| $ 84,723 | FHF Trust 4.43%, 01/18/2028(1) | $ 83,022 | |
| 175,000 | Hertz Vehicle Financing LLC 1.21%, 12/26/2025(1) | 166,772 | |
| 116,480 | Lendbuzz Securitization Trust 1.46%, 06/15/2026(1) | 110,897 | |
| 360,691 | |||
| Asset-Backed - Credit Card - 0.1% | |||
| 125,000 | Evergreen Credit Card Trust 5.61%, 07/15/2026(1) | 123,726 | |
| Asset-Backed - Finance & Insurance - 0.4% | |||
| 375,000 | Cologix Data Centers U.S. Issuer LLC 3.30%, 12/26/2051(1) | 328,258 | |
| 19,748 | FCI Funding LLC 1.13%, 04/15/2033(1) | 19,028 | |
| 347,286 | |||
| Commercial Mortgage-Backed Securities - 2.0% | |||
| 395,000 | CityLine Commercial Mortgage Trust 2.78%, 11/10/2031(1)(2) | 362,413 | |
| 225,000 | FREMF Mortgage Trust 3.85%, 01/25/2048(1)(2) | 217,606 | |
| 240,000 | GS Mortgage Securities Corp. Trust 2.75%, 02/10/2037(1) | 223,591 | |
| 182,296 | GS Mortgage Securities Trust 2.78%, 10/10/2049 | 174,057 | |
| 575,000 | SG Commercial Mortgage Securities Trust 2.63%, 03/15/2037(1) | 526,248 | |
| 1,503,915 | |||
| Other Asset-Backed Securities - 6.2% | |||
| 23,269 | Affirm Asset Securitization Trust 1.07%, 08/15/2025(1) | 22,887 | |
| 269,595 | Apidos CLO XV Ltd. 6.69%, 04/20/2031, 3 mo. USD Term SOFR + 1.27%(1)(3) | 268,282 | |
| 147,130 | Aqua Finance Trust 1.54%, 07/17/2046(1) | 129,040 | |
| 300,000 | Atrium XIII 7.17%, 11/21/2030, 3 mo. USD Term SOFR + 1.76%(1)(3) | 294,735 | |
| 75,645 | Avant Loans Funding Trust 1.21%, 07/15/2030(1) | 74,818 | |
| 254,754 | Benefit Street Partners CLO XII Ltd. 6.61%, 10/15/2030, 3 mo. USD Term SOFR + 1.21%(1)(3) | 254,234 | |
| 175,000 | BSPRT Issuer Ltd. 6.82%, 02/15/2037, 30 day USD SOFR Average + 1.50%(1)(3) | 172,873 | |
| 334,585 | Carlyle Global Market Strategies CLO Ltd. 6.66%, 07/20/2031, 3 mo. USD Term SOFR + 1.24%(1)(3) | 332,945 | |
| CIFC Funding Ltd. | |||
| 246,503 | 6.72%, 04/20/2031, 3 mo. USD Term SOFR + 1.30%(1)(3) | 245,890 | |
| 232,285 | 6.78%, 01/22/2031, 3 mo. USD Term SOFR + 1.37%(1)(3) | 231,821 | |
| 300,000 | 6.81%, 07/15/2036, 3 mo. USD Term SOFR + 1.41%(1)(3) | 298,464 | |
| 250,000 | 6.98%, 01/15/2034, 3 mo. USD Term SOFR + 1.58%(1)(3) | 249,241 | |
| 451,950 | DB Master Finance LLC 2.05%, 11/20/2051(1) | 395,570 | |
| 249,252 | LCM XXIV Ltd. 6.66%, 03/20/2030, 3 mo. USD Term SOFR + 1.24%(1)(3) | 247,948 | |
| 276,354 | Neuberger Berman Loan Advisers CLO 24 Ltd. 6.68%, 04/19/2030, 3 mo. USD Term SOFR + 1.28%(1)(3) | 275,440 | |
| 220,067 | Octagon Investment Partners 30 Ltd. 6.68%, 03/17/2030, 3 mo. USD Term SOFR + 1.26%(1)(3) | 218,990 | |
| 134,116 | Progress Residential Trust 1.05%, 04/17/2038(1) | 118,169 | |
| 169,343 | Sapphire Aviation Finance II Ltd. 3.23%, 03/15/2040(1) | 144,236 | |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 14.0% - (continued) | |||
| Other Asset-Backed Securities - 6.2% - (continued) | |||
| $ 100,000 | SoFi Consumer Loan Program Trust 1.30%, 09/25/2030(1) | $ 98,095 | |
| 95,000 | Stack Infrastructure Issuer LLC 1.88%, 03/26/2046(1) | 84,019 | |
| Vantage Data Centers Issuer LLC | |||
| 300,000 | 1.65%, 09/15/2045(1) | 271,712 | |
| 295,000 | 2.17%, 10/15/2046(1) | 257,200 | |
| 4,686,609 | |||
| Whole Loan Collateral CMO - 4.8% | |||
| Angel Oak Mortgage Trust | |||
| 98,392 | 1.04%, 01/20/2065(1)(2) | 75,478 | |
| 16,318 | 2.47%, 12/25/2059(1)(2) | 15,041 | |
| 79,034 | 2.53%, 01/26/2065(1)(2) | 71,227 | |
| 18,715 | 2.59%, 10/25/2049(1)(2) | 17,874 | |
| 129,863 | Arroyo Mortgage Trust 2.96%, 10/25/2048(1)(2) | 116,881 | |
| 25,160 | Bravo Residential Funding Trust 3.50%, 03/25/2058(1) | 24,587 | |
| COLT Mortgage Loan Trust | |||
| 48,812 | 0.91%, 06/25/2066(1)(2) | 37,157 | |
| 309,919 | 1.11%, 10/25/2066(1)(2) | 246,880 | |
| 235,810 | 1.40%, 10/25/2066(1)(2) | 185,480 | |
| CSMC Trust | |||
| 188,878 | 1.17%, 07/25/2066(1)(2) | 144,073 | |
| 50,390 | 2.24%, 02/25/2050(1)(2) | 46,160 | |
| 38,079 | Deephaven Residential Mortgage Trust 0.72%, 05/25/2065(1)(2) | 34,574 | |
| Ellington Financial Mortgage Trust | |||
| 29,005 | 0.80%, 02/25/2066(1)(2) | 23,313 | |
| 20,454 | 1.18%, 10/25/2065(1)(2) | 17,841 | |
| 103,592 | Federal National Mortgage Association Connecticut Avenue Securities 11.34%, 10/25/2028, 30 day USD SOFR Average + 6.01%(3) | 110,309 | |
| GCAT Trust | |||
| 217,261 | 1.09%, 08/25/2066(1)(2) | 164,416 | |
| 107,333 | 1.47%, 04/25/2065(1)(2) | 96,653 | |
| 38,710 | 2.25%, 01/25/2060(1)(4) | 36,052 | |
| Imperial Fund Mortgage Trust | |||
| 112,899 | 1.07%, 06/25/2056(1)(2) | 89,792 | |
| 144,043 | 1.07%, 09/25/2056(1)(2) | 108,343 | |
| 162,683 | 1.60%, 11/25/2056(1)(2) | 128,063 | |
| 166,106 | IMS Ecuadorian Mortagage Trust 3.40%, 08/18/2043(1) | 150,818 | |
| MFA Trust | |||
| 74,184 | 0.85%, 01/25/2056(1)(2) | 67,040 | |
| 37,737 | 1.01%, 01/26/2065(1)(2) | 33,136 | |
| 122,514 | 1.91%, 11/25/2056(1)(2) | 99,063 | |
| Mill City Mortgage Loan Trust | |||
| 14,575 | 3.25%, 05/25/2062(1)(2) | 14,057 | |
| 9,904 | 3.50%, 05/25/2058(1)(2) | 9,675 | |
| 129,803 | 3.50%, 08/25/2058(1)(2) | 124,148 | |
| New Residential Mortgage Loan Trust | |||
| 37,421 | 0.94%, 10/25/2058(1)(2) | 32,398 | |
| 53,257 | 3.88%, 09/25/2057(1)(2) | 47,923 | |
| 148,091 | 4.00%, 02/25/2057(1)(2) | 135,599 | |
| 100,379 | 6.19%, 01/25/2048, 1 mo. USD Term SOFR + 0.86%(1)(3) | 97,066 | |
| OBX Trust | |||
| 114,430 | 1.05%, 07/25/2061(1)(2) | 82,282 | |
| 44,388 | 3.50%, 12/25/2049(1)(2) | 37,223 | |
| 66,177 | PRPM LLC 1.32%, 07/25/2051(1)(4) | 58,071 | |
| 1,211 | Sequoia Mortgage Trust 4.50%, 08/25/2048(1)(2) | 1,173 | |
| 214,466 | SG Residential Mortgage Trust 1.16%, 07/25/2061(1)(2) | 164,670 | |
| Starwood Mortgage Residential Trust | |||
| 106,885 | 1.13%, 06/25/2056(1)(2) | 82,520 | |
| 31 |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 14.0% - (continued) | |||
| Whole Loan Collateral CMO - 4.8% - (continued) | |||
| $ 9,729 | 2.28%, 02/25/2050(1)(2) | $ 8,985 | |
| Towd Point Mortgage Trust | |||
| 120,025 | 1.75%, 10/25/2060(1) | 102,581 | |
| 23,108 | 2.16%, 01/25/2052(1)(2) | 22,854 | |
| 79,970 | 3.25%, 07/25/2058(1)(2) | 76,732 | |
| 30,271 | 3.75%, 05/25/2058(1)(2) | 28,533 | |
| 93,063 | TRK Trust 1.15%, 07/25/2056(1)(2) | 77,281 | |
| Verus Securitization Trust | |||
| 193,425 | 1.01%, 09/25/2066(1)(2) | 153,520 | |
| 15,362 | 2.42%, 01/25/2060(1)(4) | 14,358 | |
| 26,255 | 2.69%, 11/25/2059(1)(2) | 25,195 | |
| 98,977 | Visio Trust 1.28%, 05/25/2056(1) | 89,534 | |
| 3,626,629 | |||
| Total Asset & Commercial Mortgage-Backed Securities (cost $11,793,969) | $ 10,648,856 | ||
| CORPORATE BONDS - 50.9% | |||
| Aerospace/Defense - 0.9% | |||
| 595,000 | Boeing Co. 2.20%, 02/04/2026 | $ 546,661 | |
| 110,000 | HEICO Corp. 5.25%, 08/01/2028 | 106,164 | |
| 652,825 | |||
| Auto Manufacturers - 1.2% | |||
| 200,000 | Ford Motor Credit Co. LLC 3.37%, 11/17/2023 | 199,729 | |
| 390,000 | General Motors Financial Co., Inc. 2.90%, 02/26/2025 | 372,340 | |
| 315,000 | Hyundai Capital America 5.95%, 09/21/2026(1) | 312,219 | |
| 884,288 | |||
| Beverages - 0.4% | |||
| 325,000 | JDE Peet's NV 1.38%, 01/15/2027(1) | 279,234 | |
| Biotechnology - 1.6% | |||
| 365,000 | Amgen, Inc. 5.15%, 03/02/2028 | 356,379 | |
| 320,000 | Illumina, Inc. 5.80%, 12/12/2025 | 316,738 | |
| 595,000 | Royalty Pharma PLC 1.20%, 09/02/2025 | 542,484 | |
| 1,215,601 | |||
| Chemicals - 0.7% | |||
| Celanese U.S. Holdings LLC | |||
| 226,000 | 6.05%, 03/15/2025 | 225,287 | |
| 335,000 | 6.35%, 11/15/2028 | 327,240 | |
| 552,527 | |||
| Commercial Banks - 14.0% | |||
| 250,000 | ABN AMRO Bank NV 6.34%, 09/18/2027, (6.34% fixed rate until 09/18/2026; 1 yr. USD CMT + 1.65% thereafter)(1)(5) | 247,230 | |
| 200,000 | AIB Group PLC 7.58%, 10/14/2026, (7.58% fixed rate until 10/14/2025; 6 mo. USD SOFR + 3.46% thereafter)(1)(5) | 202,433 | |
| Bank of America Corp. | |||
| 400,000 | 1.20%, 10/24/2026, (1.20% fixed rate until 10/24/2025; 6 mo. USD SOFR + 1.01% thereafter)(5) | 361,287 | |
| 525,000 | 2.02%, 02/13/2026, (2.02% fixed rate until 02/13/2025; 3 mo. USD Term SOFR + 0.90% thereafter)(5) | 495,058 | |
| 292,000 | 5.08%, 01/20/2027, (5.08% fixed rate until 01/20/2026; 6 mo. USD SOFR + 1.29% thereafter)(5) | 284,303 | |
| 350,000 | 5.82%, 09/15/2029, (5.82% fixed rate until 09/15/2028; 6 mo. USD SOFR + 1.57% thereafter)(5) | 340,868 | |
| 250,000 | Bank of Ireland Group PLC 6.25%, 09/16/2026, (6.25% fixed rate until 09/16/2025; 1 yr. USD CMT + 2.65% thereafter)(1)(5) | 247,655 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 50.9% - (continued) | |||
| Commercial Banks - 14.0% - (continued) | |||
| $ 225,000 | Bank of New York Mellon Corp. 6.32%, 10/25/2029, (6.32% fixed rate until 10/25/2028; 6 mo. USD SOFR + 1.60% thereafter)(5) | $ 226,895 | |
| 350,000 | Barclays PLC 2.28%, 11/24/2027, (2.28% fixed rate until 11/24/2026; 1 yr. USD CMT + 1.05% thereafter)(5) | 306,341 | |
| BPCE SA | |||
| 250,000 | 1.65%, 10/06/2026, (1.65% fixed rate until 10/06/2025; 6 mo. USD SOFR + 1.52% thereafter)(1)(5) | 226,336 | |
| 250,000 | 4.75%, 07/19/2027(1) | 235,781 | |
| 250,000 | Citibank NA 5.80%, 09/29/2028 | 247,049 | |
| 440,000 | Citigroup, Inc. 3.20%, 10/21/2026 | 405,644 | |
| 250,000 | Citizens Bank NA 5.28%, 01/26/2026, (5.28% fixed rate until 01/26/2025; 2 mo. USD SOFR + 1.02% thereafter)(5) | 235,470 | |
| 325,000 | Credit Suisse AG 1.25%, 08/07/2026 | 283,491 | |
| 345,000 | Danske Bank AS 1.55%, 09/10/2027, (1.55% fixed rate until 09/10/2026; 1 yr. USD CMT + 0.73% thereafter)(1)(5) | 299,468 | |
| Deutsche Bank AG | |||
| 340,000 | 2.55%, 01/07/2028, (2.55% fixed rate until 01/07/2027; 6 mo. USD SOFR + 1.32% thereafter)(5) | 294,546 | |
| 150,000 | 5.37%, 09/09/2027 | 145,138 | |
| 360,000 | Fifth Third Bancorp 6.34%, 07/27/2029, (6.34% fixed rate until 07/27/2028; 2 mo. USD SOFR + 2.34% thereafter)(5) | 349,033 | |
| Goldman Sachs Group, Inc. | |||
| 415,000 | 4.39%, 06/15/2027, (4.39% fixed rate until 06/15/2026; 6 mo. USD SOFR + 1.51% thereafter)(5) | 396,471 | |
| 225,000 | 6.48%, 10/24/2029, (6.48% fixed rate until 10/24/2028; 6 mo. USD SOFR + 1.77% thereafter)(5) | 225,086 | |
| HSBC Holdings PLC | |||
| 245,000 | 1.59%, 05/24/2027, (1.59% fixed rate until 05/24/2026; 6 mo. USD SOFR + 1.29% thereafter)(5) | 215,788 | |
| 245,000 | 5.89%, 08/14/2027, (5.89% fixed rate until 08/14/2026; 6 mo. USD SOFR + 1.57% thereafter)(5) | 240,674 | |
| 355,000 | Huntington Bancshares, Inc. 6.21%, 08/21/2029, (6.21% fixed rate until 08/21/2028; 6 mo. USD SOFR + 2.02% thereafter)(5) | 341,451 | |
| JP Morgan Chase & Co. | |||
| 432,000 | 1.04%, 02/04/2027, (1.04% fixed rate until 02/04/2026; 3 mo. USD Term SOFR + 0.70% thereafter)(5) | 384,134 | |
| 291,000 | 4.32%, 04/26/2028, (4.32% fixed rate until 04/26/2027; 6 mo. USD SOFR + 1.56% thereafter)(5) | 273,571 | |
| 95,000 | 6.07%, 10/22/2027, (6.07% fixed rate until 10/22/2026; 6 mo. USD SOFR + 1.33% thereafter)(5) | 94,861 | |
| 200,000 | 6.09%, 10/23/2029, (6.09% fixed rate until 10/23/2028; 6 mo. USD SOFR + 1.57% thereafter)(5) | 198,899 | |
| 145,000 | M&T Bank Corp. 7.41%, 10/30/2029, (7.41% fixed rate until 10/30/2028; 6 mo. USD SOFR + 2.80% thereafter)(5) | 145,481 | |
| 330,000 | Manufacturers & Traders Trust Co. 4.65%, 01/27/2026 | 311,658 | |
| 32 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 50.9% - (continued) | |||
| Commercial Banks - 14.0% - (continued) | |||
| Morgan Stanley | |||
| $ 426,000 | 5.16%, 04/20/2029, (5.16% fixed rate until 04/20/2028; 6 mo. USD SOFR + 1.59% thereafter)(5) | $ 405,500 | |
| 375,000 | 5.45%, 07/20/2029, (5.45% fixed rate until 07/20/2028; 2 mo. USD SOFR + 1.63% thereafter)(5) | 360,899 | |
| 85,000 | 6.41%, 11/01/2029, (6.41% fixed rate until 11/01/2028; 6 mo. USD SOFR + 1.83% thereafter)(5) | 84,916 | |
| 250,000 | PNC Financial Services Group, Inc. 6.62%, 10/20/2027, (6.62% fixed rate until 10/20/2026; 6 mo. USD SOFR + 1.73% thereafter)(5) | 250,624 | |
| 200,000 | Standard Chartered PLC 7.02%, 02/08/2030 | 199,912 | |
| 305,000 | UBS Group AG 2.59%, 09/11/2025, (2.59% fixed rate until 09/11/2024; 6 mo. USD SOFR + 1.56% thereafter)(1)(5) | 294,129 | |
| Wells Fargo & Co. | |||
| 325,000 | 3.53%, 03/24/2028, (3.53% fixed rate until 03/24/2027; 6 mo. USD SOFR + 1.51% thereafter)(5) | 296,491 | |
| 275,000 | 5.57%, 07/25/2029, (5.57% fixed rate until 07/25/2028; 2 mo. USD SOFR + 1.74% thereafter)(5) | 265,020 | |
| 220,000 | 6.30%, 10/23/2029, (6.30% fixed rate until 10/23/2028; 6 mo. USD SOFR + 1.79% thereafter)(5) | 218,321 | |
| 10,637,912 | |||
| Commercial Services - 0.6% | |||
| 200,000 | Ashtead Capital, Inc. 1.50%, 08/12/2026(1) | 175,771 | |
| 264,000 | ERAC USA Finance LLC 4.60%, 05/01/2028(1) | 251,535 | |
| 427,306 | |||
| Construction Materials - 0.8% | |||
| 275,000 | Lennox International, Inc. 5.50%, 09/15/2028 | 268,346 | |
| 400,000 | Trane Technologies Financing Ltd. 3.50%, 03/21/2026 | 379,946 | |
| 648,292 | |||
| Distribution/Wholesale - 0.1% | |||
| 110,000 | LKQ Corp. 5.75%, 06/15/2028 | 106,626 | |
| Diversified Financial Services - 2.5% | |||
| 200,000 | AerCap Ireland Capital DAC/AerCap Global Aviation Trust 1.75%, 01/30/2026 | 179,832 | |
| 375,000 | American Express Co. 5.28%, 07/27/2029, (5.28% fixed rate until 07/27/2028; 2 mo. USD SOFR + 1.28% thereafter)(5) | 360,176 | |
| Aviation Capital Group LLC | |||
| 250,000 | 4.88%, 10/01/2025(1) | 240,556 | |
| 75,000 | 6.75%, 10/25/2028(1) | 73,945 | |
| 250,000 | Capital One Financial Corp. 6.31%, 06/08/2029, (6.31% fixed rate until 06/08/2028; 6 mo. USD SOFR + 2.64% thereafter)(5) | 239,481 | |
| 100,000 | Navient Corp. 5.88%, 10/25/2024 | 97,645 | |
| 295,000 | OneMain Finance Corp. 6.13%, 03/15/2024 | 294,236 | |
| 425,000 | Radian Group, Inc. 6.63%, 03/15/2025 | 420,355 | |
| 1,906,226 | |||
| Electric - 4.2% | |||
| 262,000 | Cleco Corporate Holdings LLC 3.74%, 05/01/2026 | 245,189 | |
| Edison International | |||
| 275,000 | 4.70%, 08/15/2025 | 267,164 | |
| 500,000 | 5.25%, 11/15/2028 | 475,065 | |
| 125,000 | Eversource Energy 5.45%, 03/01/2028 | 122,089 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 50.9% - (continued) | |||
| Electric - 4.2% - (continued) | |||
| $ 205,000 | Georgia Power Co. 4.65%, 05/16/2028 | $ 195,938 | |
| 271,000 | ITC Holdings Corp. 4.95%, 09/22/2027(1) | 261,924 | |
| 260,000 | Metropolitan Edison Co. 5.20%, 04/01/2028(1) | 250,993 | |
| 116,000 | NextEra Energy Capital Holdings, Inc. 6.05%, 03/01/2025 | 115,929 | |
| Pacific Gas & Electric Co. | |||
| 302,000 | 5.45%, 06/15/2027 | 288,662 | |
| 458,000 | 6.10%, 01/15/2029 | 440,881 | |
| 325,000 | Public Service Enterprise Group, Inc. 5.88%, 10/15/2028 | 322,035 | |
| 205,000 | Sempra 5.40%, 08/01/2026 | 202,080 | |
| 3,187,949 | |||
| Electronics - 0.4% | |||
| 300,000 | Flex Ltd. 6.00%, 01/15/2028 | 297,115 | |
| Entertainment - 0.7% | |||
| 75,000 | Caesars Entertainment, Inc. 6.25%, 07/01/2025(1) | 73,901 | |
| 464,000 | Warnermedia Holdings, Inc. 3.76%, 03/15/2027 | 427,442 | |
| 501,343 | |||
| Food - 0.5% | |||
| 377,000 | Kraft Heinz Foods Co. 3.00%, 06/01/2026 | 352,495 | |
| Gas - 0.6% | |||
| 487,000 | NiSource, Inc. 5.25%, 03/30/2028 | 473,047 | |
| Hand/Machine Tools - 0.5% | |||
| 370,000 | Regal Rexnord Corp. 6.05%, 02/15/2026(1) | 363,942 | |
| Healthcare - Services - 1.3% | |||
| 119,000 | Beth Israel Lahey Health, Inc. 2.22%, 07/01/2028 | 99,679 | |
| 400,000 | HCA, Inc. 3.13%, 03/15/2027 | 361,044 | |
| 600,000 | Humana, Inc. 1.35%, 02/03/2027 | 520,403 | |
| 981,126 | |||
| Insurance - 2.5% | |||
| 385,000 | Aon Corp./Aon Global Holdings PLC 2.85%, 05/28/2027 | 348,339 | |
| 70,000 | Assured Guaranty U.S. Holdings, Inc. 6.13%, 09/15/2028 | 69,554 | |
| 384,000 | Athene Global Funding 1.73%, 10/02/2026(1) | 333,665 | |
| 315,000 | Corebridge Financial, Inc. 3.65%, 04/05/2027 | 288,633 | |
| 160,000 | Corebridge Global Funding 5.90%, 09/19/2028(1) | 158,126 | |
| 370,000 | Equitable Financial Life Global Funding 1.00%, 01/09/2026(1) | 329,239 | |
| 390,000 | Principal Life Global Funding II 1.25%, 08/16/2026(1) | 341,978 | |
| 1,869,534 | |||
| Investment Company Security - 0.9% | |||
| 385,000 | Ares Capital Corp. 7.00%, 01/15/2027 | 383,676 | |
| 290,000 | FS KKR Capital Corp. 1.65%, 10/12/2024 | 276,526 | |
| 660,202 | |||
| IT Services - 0.5% | |||
| 395,000 | DXC Technology Co. 1.80%, 09/15/2026 | 345,910 | |
| Lodging - 0.8% | |||
| 235,000 | Genting New York LLC/GENNY Capital, Inc. 3.30%, 02/15/2026(1) | 210,338 | |
| 385,000 | Marriott International, Inc. 5.55%, 10/15/2028 | 375,195 | |
| 585,533 | |||
| Machinery-Diversified - 0.4% | |||
| 340,000 | Ingersoll Rand, Inc. 5.40%, 08/14/2028 | 331,460 | |
| 33 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 50.9% - (continued) | |||
| Media - 0.7% | |||
| $ 225,000 | Comcast Corp. 4.55%, 01/15/2029 | $ 213,701 | |
| 330,000 | Cox Communications, Inc. 5.45%, 09/15/2028(1) | 321,626 | |
| 535,327 | |||
| Mining - 0.3% | |||
| 236,000 | Glencore Funding LLC 6.13%, 10/06/2028(1) | 234,078 | |
| Office/Business Equipment - 0.5% | |||
| CDW LLC/CDW Finance Corp. | |||
| 235,000 | 2.67%, 12/01/2026 | 210,205 | |
| 205,000 | 4.13%, 05/01/2025 | 197,794 | |
| 407,999 | |||
| Oil & Gas - 1.5% | |||
| 235,000 | Aker BP ASA 3.00%, 01/15/2025(1) | 224,862 | |
| Ovintiv, Inc. | |||
| 345,000 | 5.65%, 05/15/2025 | 343,083 | |
| 365,000 | 5.65%, 05/15/2028 | 354,551 | |
| 200,000 | Var Energi ASA 5.00%, 05/18/2027(1) | 187,850 | |
| 1,110,346 | |||
| Packaging & Containers - 0.9% | |||
| 200,000 | Ball Corp. 4.00%, 11/15/2023 | 199,503 | |
| 370,000 | Berry Global, Inc. 1.57%, 01/15/2026 | 334,280 | |
| 145,000 | Silgan Holdings, Inc. 1.40%, 04/01/2026(1) | 128,514 | |
| 662,297 | |||
| Pharmaceuticals - 0.8% | |||
| 479,000 | CVS Health Corp. 5.00%, 01/30/2029 | 458,796 | |
| 200,000 | Teva Pharmaceutical Finance Netherlands III BV 4.75%, 05/09/2027 | 181,574 | |
| 640,370 | |||
| Pipelines - 2.4% | |||
| Columbia Pipelines Holding Co. LLC | |||
| 90,000 | 6.04%, 08/15/2028(1) | 88,486 | |
| 282,000 | 6.06%, 08/15/2026(1) | 281,575 | |
| Energy Transfer LP | |||
| 406,000 | 2.90%, 05/15/2025 | 386,717 | |
| 30,000 | 6.10%, 12/01/2028 | 29,635 | |
| 385,000 | ONEOK, Inc. 5.65%, 11/01/2028 | 375,847 | |
| 405,000 | Targa Resources Corp. 5.20%, 07/01/2027 | 392,037 | |
| 304,000 | Western Midstream Operating LP 6.35%, 01/15/2029 | 302,343 | |
| 1,856,640 | |||
| Real Estate Investment Trusts - 2.1% | |||
| 395,000 | American Tower Corp. 5.80%, 11/15/2028 | 386,261 | |
| 105,000 | American Tower Trust I 5.49%, 03/15/2028(1) | 103,130 | |
| 86,000 | Corporate Office Properties LP 2.25%, 03/15/2026 | 77,753 | |
| 186,000 | Crown Castle, Inc. 4.80%, 09/01/2028 | 173,889 | |
| 150,000 | GLP Capital LP/GLP Financing II, Inc. 5.38%, 04/15/2026 | 143,755 | |
| SBA Tower Trust | |||
| 80,000 | 1.63%, 05/15/2051(1) | 69,245 | |
| 155,000 | 2.84%, 01/15/2050(1) | 147,998 | |
| VICI Properties LP/VICI Note Co., Inc. | |||
| 475,000 | 4.25%, 12/01/2026(1) | 438,408 | |
| 50,000 | 4.25%, 12/01/2026(6) | 46,148 | |
| 1,586,587 | |||
| Retail - 0.9% | |||
| 220,000 | AutoZone, Inc. 6.25%, 11/01/2028 | 222,395 | |
| 320,000 | Dollar General Corp. 5.20%, 07/05/2028 | 307,604 | |
| 185,000 | Nordstrom, Inc. 2.30%, 04/08/2024 | 180,606 | |
| 710,605 | |||
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 50.9% - (continued) | |||
| Savings & Loans - 0.3% | |||
| $ 200,000 | Nationwide Building Society 6.56%, 10/18/2027, (6.56% fixed rate until 10/18/2026; 6 mo. USD SOFR + 1.91% thereafter)(1)(5) | $ 199,682 | |
| Semiconductors - 1.2% | |||
| Marvell Technology, Inc. | |||
| 170,000 | 4.88%, 06/22/2028 | 160,047 | |
| 400,000 | 5.75%, 02/15/2029 | 389,083 | |
| 420,000 | Skyworks Solutions, Inc. 1.80%, 06/01/2026 | 374,793 | |
| 923,923 | |||
| Software - 1.1% | |||
| 245,000 | Open Text Corp. 6.90%, 12/01/2027(1) | 243,800 | |
| Oracle Corp. | |||
| 375,000 | 4.50%, 05/06/2028 | 355,106 | |
| 114,000 | 5.80%, 11/10/2025 | 113,960 | |
| 150,000 | PTC, Inc. 3.63%, 02/15/2025(1) | 144,574 | |
| 857,440 | |||
| Telecommunications - 1.2% | |||
| 450,000 | Telecom Italia SpA 5.30%, 05/30/2024(1) | 441,284 | |
| 530,000 | T-Mobile USA, Inc. 4.80%, 07/15/2028 | 504,528 | |
| 945,812 | |||
| Trucking & Leasing - 0.9% | |||
| 385,000 | DAE Funding LLC 1.55%, 08/01/2024(1) | 370,187 | |
| 320,000 | Penske Truck Leasing Co. LP/PTL Finance Corp. 5.70%, 02/01/2028(1) | 309,334 | |
| 679,521 | |||
| Total Corporate Bonds (cost $39,991,945) | $ 38,611,120 | ||
| SENIOR FLOATING RATE INTERESTS - 10.8%(7) | |||
| Advertising - 0.2% | |||
| 113,563 | ABG Intermediate Holdings 2 LLC 8.92%, 12/21/2028, 1 mo. USD Term SOFR + 3.50% | $ 113,217 | |
| Aerospace/Defense - 0.4% | |||
| 108,900 | Spirit Aerosystems, Inc. 9.63%, 01/15/2027, 1 mo. USD Term SOFR + 4.25% | 108,437 | |
| 161,148 | TransDigm, Inc. 8.64%, 08/24/2028, 3 mo. USD Term SOFR + 3.25% | 160,894 | |
| 269,331 | |||
| Airlines - 0.1% | |||
| 90,000 | American Airlines, Inc. 10.43%, 04/20/2028, 3 mo. USD Term SOFR + 4.75% | 91,125 | |
| Apparel - 0.3% | |||
| 107,000 | Crocs, Inc. 8.53%, 02/20/2029, 3 mo. USD Term SOFR + 3.00% | 107,117 | |
| 99,500 | Hanesbrands, Inc. 9.07%, 03/08/2030, 1 mo. USD Term SOFR + 3.75% | 98,132 | |
| 205,249 | |||
| Auto Parts & Equipment - 0.1% | |||
| 99,749 | First Brands Group LLC 10.88%, 03/30/2027, 6 mo. USD Term SOFR + 5.00% | 98,128 | |
| Commercial Services - 1.2% | |||
| 122,500 | APX Group, Inc. 8.93%, 07/10/2028, PRIME + 3.25% | 122,309 | |
| EUR 133,621 | Boels Topholding BV 7.05%, 02/06/2027, 1 mo. EURIBOR + 3.25% | 140,428 | |
| $ 135,000 | GTCR W Merger Sub LLC 0.00%, 09/20/2030, 1 mo. USD Term SOFR + 3.00%(8) | 133,931 | |
| 187,887 | Trans Union LLC 7.17%, 11/16/2026, 1 mo. USD Term SOFR + 1.75% | 187,417 | |
| 34 |
| Shares or Principal Amount | Market Value† | ||
| SENIOR FLOATING RATE INTERESTS - 10.8%(7) - (continued) | |||
| Commercial Services - 1.2% - (continued) | |||
| $ 106,086 | United Rentals, Inc. 7.07%, 10/31/2025, 1 mo. USD Term SOFR + 1.75% | $ 106,192 | |
| EUR 105,000 | Verisure Holding AB 6.97%, 03/27/2028, 3 mo. EURIBOR + 3.00% | 108,164 | |
| $ 106,513 | WEX, Inc. 7.69%, 03/31/2028, 1 mo. USD Term SOFR + 2.25% | 106,365 | |
| 904,806 | |||
| Construction Materials - 0.6% | |||
| 100,000 | Emerald Borrower LP 8.38%, 05/31/2030, 3 mo. USD Term SOFR + 3.00% | 99,734 | |
| 33,405 | Ingersoll-Rand Services Co. 7.17%, 03/01/2027, 1 mo. USD Term SOFR + 1.75% | 33,431 | |
| 192,500 | Quikrete Holdings, Inc. 8.06%, 02/01/2027, 1 mo. USD Term SOFR + 2.63% | 191,963 | |
| 118,322 | Standard Industries, Inc. 7.95%, 09/22/2028, 1 mo. USD Term SOFR + 2.50% | 118,428 | |
| 443,556 | |||
| Distribution/Wholesale - 0.2% | |||
| 113,638 | American Builders & Contractors Supply Co., Inc. 7.42%, 01/15/2027, 1 mo. USD Term SOFR + 2.00% | 113,367 | |
| Diversified Financial Services - 0.7% | |||
| 200,000 | Aretec Group, Inc. 9.92%, 08/09/2030, 1 mo. USD Term SOFR + 4.50% | 193,964 | |
| 161,155 | Fleetcor Technologies Operating Co. LLC 7.17%, 04/28/2028, 1 mo. USD Term SOFR + 1.75% | 160,707 | |
| 130,000 | Setanta Aircraft Leasing Designated Activity Co. 7.65%, 11/05/2028, 3 mo. USD Term SOFR + 2.00% | 129,858 | |
| 484,529 | |||
| Electric - 0.1% | |||
| 86,995 | ExGen Renewables IV LLC 8.18%, 12/15/2027, 3 mo. USD Term SOFR + 2.50% | 86,519 | |
| Electronics - 0.1% | |||
| 91,415 | II-VI, Inc. 8.19%, 07/02/2029, 1 mo. USD Term SOFR + 2.75% | 91,101 | |
| Engineering & Construction - 0.2% | |||
| 122,128 | Brown Group Holding LLC 8.17%, 06/07/2028, 1 mo. USD Term SOFR + 2.75% | 119,786 | |
| Entertainment - 1.0% | |||
| 104,475 | Caesars Entertainment Corp. 8.67%, 02/06/2030, 1 mo. USD Term SOFR + 3.25% | 103,967 | |
| 140,000 | Delta 2 Lux SARL 7.57%, 01/15/2030, 1 mo. USD Term SOFR + 2.25% | 139,869 | |
| 100,000 | Ontario Gaming GTA LP 9.64%, 08/01/2030, 3 mo. USD Term SOFR + 4.25% | 99,854 | |
| 143,188 | Penn Entertainment, Inc. 8.17%, 05/03/2029, 1 mo. USD Term SOFR + 2.75% | 142,910 | |
| 103,191 | Scientific Games International, Inc. 8.43%, 04/14/2029, 1 mo. USD Term SOFR + 3.00% | 102,853 | |
| 194,790 | UFC Holdings LLC 8.40%, 04/29/2026, 3 mo. USD Term SOFR + 2.75% | 194,492 | |
| 783,945 | |||
| Environmental Control - 0.1% | |||
| 98,605 | Covanta Holding Corp. 7.82%, 11/30/2028, 1 mo. USD Term SOFR + 2.50% | 97,079 | |
| Food - 0.2% | |||
| 104,217 | U.S. Foods, Inc. 7.94%, 11/22/2028, 1 mo. USD Term SOFR + 2.00% | 104,399 | |
| Shares or Principal Amount | Market Value† | ||
| SENIOR FLOATING RATE INTERESTS - 10.8%(7) - (continued) | |||
| Healthcare - Products - 0.4% | |||
| EUR 97,750 | Avantor Funding, Inc. 6.37%, 06/12/2028, 1 mo. EURIBOR + 2.50% | $ 102,401 | |
| $ 102,930 | Medline Borrower LP 8.69%, 10/23/2028, 1 mo. USD Term SOFR + 3.25% | 102,223 | |
| 108,039 | Sunshine Luxembourg VII SARL 9.24%, 10/01/2026, 3 mo. USD Term SOFR + 3.75% | 107,843 | |
| 312,467 | |||
| Insurance - 1.1% | |||
| 153,483 | Acrisure LLC 8.94%, 02/15/2027, 1 mo. USD Term SOFR + 3.50% | 149,238 | |
| 208,627 | Asurion LLC 9.67%, 08/19/2028, 1 mo. USD Term SOFR + 4.25% | 198,914 | |
| 103,857 | HUB International Ltd. 9.66%, 06/20/2030, 3 mo. USD Term SOFR + 4.25% | 103,783 | |
| 197,342 | Sedgwick Claims Management Services, Inc. 9.07%, 02/24/2028, 1 mo. USD Term SOFR + 3.75% | 196,480 | |
| USI, Inc. | |||
| 100,000 | 0.00%, 09/27/2030, 3 mo. USD Term SOFR + 3.25%(8) | 99,485 | |
| 114,452 | 9.14%, 11/22/2029, 3 mo. USD Term SOFR + 3.75% | 114,046 | |
| 861,946 | |||
| Internet - 0.1% | |||
| 98,235 | MH Sub I LLC 9.57%, 05/03/2028, 1 mo. USD Term SOFR + 4.25% | 93,759 | |
| Investment Company Security - 0.1% | |||
| 100,000 | GIP Pilot Acquisition Partners LP 8.39%, 10/04/2030, 3 mo. USD Term SOFR + 3.00% | 99,750 | |
| Leisure Time - 0.2% | |||
| 161,287 | Hayward Industries, Inc. 8.19%, 05/30/2028, 1 mo. USD Term SOFR + 2.75% | 158,205 | |
| Media - 0.5% | |||
| 120,000 | Simon & Schuster, Inc. 0.00%, 10/30/2030, 1 mo. USD Term SOFR + 4.00%(8) | 119,000 | |
| 275,000 | Virgin Media Bristol LLC 8.79%, 03/31/2031, 1 mo. USD Term SOFR + 3.25% | 268,598 | |
| 387,598 | |||
| Packaging & Containers - 0.4% | |||
| 186,200 | Berlin Packaging LLC 9.19%, 03/11/2028, 3 mo. USD Term SOFR + 3.75% | 181,578 | |
| 148,125 | Clydesdale Acquisition Holdings, Inc. 9.60%, 04/13/2029, 1 mo. USD Term SOFR + 4.18% | 143,077 | |
| 324,655 | |||
| Pharmaceuticals - 0.0% | |||
| 285 | Jazz Financing Lux SARL 8.94%, 05/05/2028, 1 mo. USD Term SOFR + 3.50% | 285 | |
| Pipelines - 0.1% | |||
| 97,296 | Oryx Midstream Services Permian Basin LLC 8.69%, 10/05/2028, 1 mo. USD Term SOFR + 3.25% | 97,080 | |
| Retail - 1.1% | |||
| 141,733 | 1011778 BC Unlimited Liability Co. 7.57%, 09/20/2030, 1 mo. USD Term SOFR + 2.25% | 140,281 | |
| 164,370 | Great Outdoors Group LLC 9.40%, 03/06/2028, 1 mo. USD Term SOFR + 3.75% | 162,897 | |
| 102,383 | IRB Holding Corp. 8.42%, 12/15/2027, 1 mo. USD Term SOFR + 3.00% | 101,188 | |
| 117,392 | LBM Acquisition LLC 9.17%, 12/17/2027, 1 mo. USD Term SOFR + 3.75% | 111,522 | |
| 35 |
| Shares or Principal Amount | Market Value† | ||
| SENIOR FLOATING RATE INTERESTS - 10.8%(7) - (continued) | |||
| Retail - 1.1% - (continued) | |||
| $ 107,525 | PetSmart, Inc. 9.17%, 02/11/2028, 1 mo. USD Term SOFR + 3.75% | $ 106,069 | |
| 121,759 | Pilot Travel Centers LLC 7.42%, 08/04/2028, 1 mo. USD Term SOFR + 2.00% | 121,683 | |
| 101,070 | SRS Distribution, Inc. 8.94%, 06/02/2028, 1 mo. USD Term SOFR + 3.50% | 98,544 | |
| 842,184 | |||
| Semiconductors - 0.0% | |||
| 20,617 | Entegris, Inc. 7.88%, 07/06/2029, 3 mo. USD Term SOFR + 2.50% | 20,624 | |
| Software - 1.3% | |||
| 157,359 | Dun & Bradstreet Corp. 8.18%, 02/06/2026, 1 mo. USD Term SOFR + 2.75% | 157,113 | |
| 125,000 | Evertec Group LLC 0.00%, 10/30/2030, 1 mo. USD Term SOFR + 3.50%(8) | 124,688 | |
| 108,065 | McAfee LLC 9.16%, 03/01/2029, 1 mo. USD Term SOFR + 3.75% | 103,136 | |
| 136,021 | Open Text Corp. 8.17%, 01/31/2030, 1 mo. USD Term SOFR + 2.75% | 135,870 | |
| 119,293 | Peraton Corp. 9.17%, 02/01/2028, 1 mo. USD Term SOFR + 3.75% | 116,907 | |
| 137,295 | SS&C Technologies, Inc. 7.19%, 04/16/2025, 1 mo. USD Term SOFR + 1.75% | 137,176 | |
| 190,230 | Zelis Healthcare Corp. 8.94%, 09/30/2026, 1 mo. USD Term SOFR + 3.50% | 190,022 | |
| 964,912 | |||
| Total Senior Floating Rate Interests (cost $8,248,090) | $ 8,169,602 | ||
| U.S. GOVERNMENT AGENCIES - 4.4% | |||
| Mortgage-Backed Agencies - 4.4% | |||
| Federal Home Loan Mortgage Corp. - 1.7% | |||
| 135,401 | 1.00%, 05/25/2033 | $ 117,502 | |
| 391,921 | 1.00%, 01/15/2041 | 336,017 | |
| 391,485 | 1.00%, 06/15/2044 | 347,957 | |
| 10,087 | 1.50%, 01/15/2027 | 10,007 | |
| 365,505 | 2.00%, 03/25/2034 | 330,205 | |
| 28,622 | 3.50%, 09/15/2043 | 27,627 | |
| 9,517 | 3.75%, 05/15/2039(4) | 9,446 | |
| 43,290 | 4.50%, 07/15/2040 | 40,994 | |
| 88,874 | 4.50%, 05/25/2045 | 82,844 | |
| 1,302,599 | |||
| Federal National Mortgage Association - 2.2% | |||
| 84,180 | 2.00%, 12/25/2042 | 67,804 | |
| 31,266 | 2.55%, 07/25/2044 | 29,168 | |
| 18,232 | 3.00%, 04/25/2043 | 17,648 | |
| 65,077 | 3.00%, 05/25/2047 | 60,279 | |
| 210,548 | 3.50%, 10/25/2035 | 194,300 | |
| 146,019 | 3.50%, 07/25/2045 | 137,984 | |
| 54,453 | 3.50%, 07/25/2054 | 51,353 | |
| 223,958 | 4.00%, 10/25/2049 | 207,676 | |
| 511,906 | 4.00%, 05/25/2052 | 468,388 | |
| 200,913 | 4.50%, 05/25/2040 | 192,148 | |
| 226,420 | 4.50%, 09/25/2040 | 216,232 | |
| 1,642,980 | |||
| Government National Mortgage Association - 0.5% | |||
| 128,701 | 2.00%, 05/20/2046 | 106,810 | |
| 284,119 | 2.50%, 10/20/2041 | 258,432 | |
| 67,252 | 2.50%, 07/20/2042 | 61,430 | |
| 426,672 | |||
| Total U.S. Government Agencies (cost $3,600,179) | $ 3,372,251 | ||
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT SECURITIES - 12.7% | |||
| U.S. Treasury Securities - 12.7% | |||
| U.S. Treasury Notes - 12.7% | |||
| $ 1,400,000 | 1.50%, 02/15/2025 | $ 1,333,719 | |
| 1,900,000 | 1.75%, 12/31/2024 | 1,822,812 | |
| 100,000 | 3.25%, 06/30/2027 | 94,613 | |
| 1,000,000 | 3.88%, 01/15/2026 | 975,977 | |
| 1,750,000 | 4.63%, 09/15/2026 | 1,737,012 | |
| 3,650,000 | 5.00%, 09/30/2025 | 3,642,728 | |
| Total U.S. Government Securities (cost $9,699,712) | $ 9,606,861 | ||
| Total Long-Term Investments (cost $73,333,895) | $ 70,408,690 | ||
| SHORT-TERM INVESTMENTS - 0.7% | |||
| Repurchase Agreements - 0.7% | |||
| 526,965 | Fixed Income Clearing Corp. Repurchase Agreement dated 10/31/2023 at 5.28%, due on 11/01/2023 with a maturity value of $527,042; collateralized by U.S. Treasury Note at 0.75%, maturing 03/31/2026, with a market value of $537,557 | $ 526,965 | |
| Total Short-Term Investments (cost $526,965) | $ 526,965 | ||
| Total Investments (cost $73,860,860) | 93.5% | $ 70,935,655 | |
| Other Assets and Liabilities | 6.5% | 4,953,849 | |
| Total Net Assets | 100.0% | $ 75,889,504 | |
| Note: | Percentage of investments as shown is the ratio of the total market value to total net assets. |
| The Fund may refer to any one or more of the industry classifications used by one or more widely recognized market indices, ratings group and/or as defined by Fund management. Industry classifications may not be identical across all security types. | |
| For Fund compliance purposes, the Fund may not use the same classification system. These classifications are used for financial reporting purposes. | |
| See “Glossary” for abbreviation descriptions. |
| (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, 2023, the aggregate value of these securities was $19,709,521, representing 26.0% of net assets. |
| (2) | Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| (3) | Variable rate securities; the rate reported is the coupon rate in effect at October 31, 2023. Base lending rates may be subject to a floor or cap. |
| (4) | Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate. |
| (5) | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at October 31, 2023. Rate will reset at a future date. Base lending rates may be subject to a floor or cap. |
| 36 |
| (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, 2023, the aggregate value of this security was $46,148, representing 0.1% of net assets. |
| (7) | 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 is primarily the Secured Overnight Financing Rate ("SOFR") and secondarily, the synthetic London Interbank Offered Rate ("LIBOR") or 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, 2023. |
| (8) | Represents an unsettled loan commitment. The coupon rate will be determined at time of settlement. |
| Futures Contracts Outstanding at October 31, 2023 | ||||||||
| Description | Number of Contracts | Expiration Date | Current Notional Amount | Value and Unrealized Appreciation/ (Depreciation) | ||||
| Long position contracts: | ||||||||
| U.S. Treasury 2-Year Note Future | 57 | 12/29/2023 | $ 11,538,047 | $ (34,534) | ||||
| Short position contracts: | ||||||||
| U.S. Treasury 5-Year Note Future | 78 | 12/29/2023 | $ 8,149,172 | $ 58,034 | ||||
| U.S. Treasury 10-Year Note Future | 11 | 12/19/2023 | 1,167,891 | 42,875 | ||||
| Total | $ 100,909 | |||||||
| Total futures contracts | $ 66,375 | |||||||
| Foreign Currency Contracts Outstanding at October 31, 2023 | ||||||||||
| Amount and Description of Currency to be Purchased | Amount and Description of Currency to be Sold | Counterparty | Settlement Date | Appreciation/ (Depreciation) | ||||||
| 235,803 | USD | 222,000 | EUR | DEUT | 11/03/2023 | $ 1,121 | ||||
| 378,462 | USD | 358,221 | EUR | DEUT | 11/30/2023 | (661) | ||||
| 235,766 | USD | 222,000 | EUR | DEUT | 12/04/2023 | 759 | ||||
| Total foreign currency contracts | $ 1,219 | |||||||||
| 37 |
| Description | Total | Level 1 | Level 2 | Level 3(1) | ||||
| Assets | ||||||||
| Asset & Commercial Mortgage-Backed Securities | $ 10,648,856 | $ — | $ 10,648,856 | $ — | ||||
| Corporate Bonds | 38,611,120 | — | 38,611,120 | — | ||||
| Senior Floating Rate Interests | 8,169,602 | — | 8,169,602 | — | ||||
| U.S. Government Agencies | 3,372,251 | — | 3,372,251 | — | ||||
| U.S. Government Securities | 9,606,861 | — | 9,606,861 | — | ||||
| Short-Term Investments | 526,965 | — | 526,965 | — | ||||
| Foreign Currency Contracts(2) | 1,880 | — | 1,880 | — | ||||
| Futures Contracts(2) | 100,909 | 100,909 | — | — | ||||
| Total | $ 71,038,444 | $ 100,909 | $ 70,937,535 | $ — | ||||
| Liabilities | ||||||||
| Foreign Currency Contracts(2) | $ (661) | $ — | $ (661) | $ — | ||||
| Futures Contracts(2) | (34,534) | (34,534) | — | — | ||||
| Total | $ (35,195) | $ (34,534) | $ (661) | $ — |
| (1) | For the period ended October 31, 2023, 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 & COMMERCIAL MORTGAGE-BACKED SECURITIES - 8.5% | |||
| Asset-Backed - Automobile - 0.6% | |||
| $ 50,000 | Exeter Automobile Receivables Trust 12.07%, 09/16/2030(1) | $ 53,131 | |
| 250,000 | Hertz Vehicle Financing III LLC 9.44%, 03/25/2030(1) | 247,064 | |
| 300,195 | |||
| Commercial Mortgage-Backed Securities - 0.4% | |||
| 100,000 | BAMLL Commercial Mortgage Securities Trust 3.72%, 11/05/2032(1)(2) | 32,436 | |
| 90,000 | BPR Trust 8.63%, 11/05/2028(1)(2) | 89,197 | |
| 17,715 | BX Trust 9.03%, 08/15/2039, 1 mo. USD Term SOFR + 3.70%(1)(3) | 17,714 | |
| 125,000 | GS Mortgage Securities Corp. Trust 2.95%, 11/05/2034(1) | 92,275 | |
| 231,622 | |||
| Other Asset-Backed Securities - 4.1% | |||
| 150,000 | 720 East CLO Ltd. 10.55%, 10/15/2036, 3 mo. USD Term SOFR + 5.15%(1)(3) | 146,089 | |
| 549,000 | AMMC CLO 22 Ltd. 11.39%, 04/25/2031, 3 mo. USD Term SOFR + 6.01%(1)(3) | 478,703 | |
| 250,000 | Bain Capital Credit CLO Ltd. 10.61%, 07/24/2036, 3 mo. USD Term SOFR + 5.25%(1)(3) | 249,366 | |
| 244,048 | Horizon Aircraft Finance III Ltd. 4.46%, 11/15/2039(1) | 114,701 | |
| 250,000 | Invesco U.S. CLO Ltd. 13.77%, 04/22/2035, 3 mo. USD Term SOFR + 8.36%(1)(3) | 251,563 | |
| PRET LLC | |||
| 200,000 | 3.97%, 09/25/2051(1)(4) | 156,749 | |
| 105,000 | 5.07%, 07/25/2051(1)(4) | 89,617 | |
| 100,000 | Pretium Mortgage Credit Partners LLC 5.44%, 01/25/2052(1)(4) | 89,718 | |
| 150,000 | Retained Vantage Data Centers Issuer LLC 5.75%, 09/15/2048(1) | 134,067 | |
| 250,000 | Symphony CLO XVIII Ltd. 8.92%, 07/23/2033, 3 mo. USD Term SOFR + 3.51%(1)(3) | 234,986 | |
| 100,000 | Tricon Residential Trust 4.13%, 07/17/2038(1) | 87,429 | |
| 200,000 | VCAT LLC 3.97%, 09/25/2051(1)(4) | 170,127 | |
| 2,203,115 | |||
| Whole Loan Collateral CMO - 3.4% | |||
| Connecticut Avenue Securities Trust | |||
| 152,075 | 9.54%, 07/25/2039, 30 day USD SOFR Average + 4.21%(1)(3) | 156,994 | |
| 200,000 | 11.32%, 10/25/2041, 30 day USD SOFR Average + 6.00%(1)(3) | 198,750 | |
| 24,591 | 17.19%, 08/25/2028, 30 day USD SOFR Average + 11.86%(3) | 28,372 | |
| Federal National Mortgage Association Connecticut Avenue Securities | |||
| 10,000 | 8.47%, 12/25/2041, 30 day USD SOFR Average + 3.15%(1)(3) | 9,969 | |
| 203,406 | 8.69%, 01/25/2040, 30 day USD SOFR Average + 3.36%(1)(3) | 205,558 | |
| 230,000 | 8.84%, 10/25/2039, 30 day USD SOFR Average + 3.51%(1)(3) | 233,304 | |
| 15,000 | 9.22%, 07/25/2043, 30 day USD SOFR Average + 3.90%(1)(3) | 15,099 | |
| 200,000 | 9.79%, 07/25/2031, 30 day USD SOFR Average + 4.46%(1)(3) | 212,949 | |
| 85,000 | 10.07%, 09/25/2042, 30 day USD SOFR Average + 4.75%(1)(3) | 91,391 | |
| 25,000 | 10.07%, 06/25/2043, 30 day USD SOFR Average + 4.75%(1)(3) | 25,908 | |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 8.5% - (continued) | |||
| Whole Loan Collateral CMO - 3.4% - (continued) | |||
| $ 25,000 | 10.57%, 03/25/2042, 30 day USD SOFR Average + 5.25%(1)(3) | $ 26,480 | |
| 90,000 | 11.52%, 11/25/2041, 30 day USD SOFR Average + 6.21%(1)(3) | 89,382 | |
| 44,000 | 12.32%, 04/25/2042, 30 day USD SOFR Average + 7.00%(1)(3) | 45,540 | |
| Home RE Ltd. | |||
| 150,000 | 9.92%, 10/25/2033, 30 day USD SOFR Average + 4.60%(1)(3) | 150,165 | |
| 165,000 | 10.82%, 10/25/2034, 30 day USD SOFR Average + 5.50%(1)(3) | 170,368 | |
| 200,000 | Preston Ridge Partners Mortgage LLC 3.60%, 09/25/2026(1)(2) | 165,045 | |
| 1,825,274 | |||
| Total Asset & Commercial Mortgage-Backed Securities (cost $4,701,519) | $ 4,560,206 | ||
| CONVERTIBLE BONDS - 2.7% | |||
| Airlines - 0.1% | |||
| 52,000 | JetBlue Airways Corp. 0.50%, 04/01/2026 | $ 32,175 | |
| Biotechnology - 0.2% | |||
| 60,000 | Alnylam Pharmaceuticals, Inc. 1.00%, 09/15/2027 | 51,872 | |
| 50,000 | Ionis Pharmaceuticals, Inc. 1.75%, 06/15/2028(1) | 51,476 | |
| 103,348 | |||
| Commercial Services - 0.4% | |||
| 78,000 | Block, Inc. 0.13%, 03/01/2025 | 71,838 | |
| EUR 100,000 | Nexi SpA 1.75%, 04/24/2027(5) | 93,896 | |
| $ 63,000 | Shift4 Payments, Inc. 0.00%, 12/15/2025(6) | 56,385 | |
| 222,119 | |||
| Electric - 0.1% | |||
| 42,000 | Atlantica Sustainable Infrastructure Jersey Ltd. 4.00%, 07/15/2025 | 38,766 | |
| Energy-Alternate Sources - 0.4% | |||
| 104,000 | Enphase Energy, Inc. 0.00%, 03/01/2028(6) | 77,198 | |
| 30,000 | Maxeon Solar Technologies Ltd. 6.50%, 07/15/2025 | 24,990 | |
| 60,000 | NextEra Energy Partners LP 0.00%, 11/15/2025(1)(6) | 50,910 | |
| 67,000 | SolarEdge Technologies, Inc. 0.00%, 09/15/2025(6) | 58,156 | |
| 30,000 | Stem, Inc. 0.50%, 12/01/2028(1) | 15,689 | |
| 226,943 | |||
| Healthcare - Products - 0.1% | |||
| 61,000 | Insulet Corp. 0.38%, 09/01/2026 | 56,211 | |
| Internet - 0.3% | |||
| Etsy, Inc. | |||
| 32,000 | 0.13%, 10/01/2026 | 31,776 | |
| 53,000 | 0.25%, 06/15/2028 | 39,035 | |
| 54,000 | Sea Ltd. 2.38%, 12/01/2025 | 50,949 | |
| 45,000 | Shopify, Inc. 0.13%, 11/01/2025 | 39,622 | |
| 32,000 | Uber Technologies, Inc. 0.00%, 12/15/2025(6) | 29,081 | |
| 190,463 | |||
| IT Services - 0.3% | |||
| Rapid7, Inc. | |||
| 20,000 | 0.25%, 03/15/2027 | 17,000 | |
| 39 |
| Shares or Principal Amount | Market Value† | ||
| CONVERTIBLE BONDS - 2.7% - (continued) | |||
| IT Services - 0.3% - (continued) | |||
| $ 50,000 | 2.25%, 05/01/2025 | $ 51,050 | |
| 64,000 | Zscaler, Inc. 0.13%, 07/01/2025 | 77,952 | |
| 146,002 | |||
| Machinery-Diversified - 0.1% | |||
| 76,000 | Middleby Corp. 1.00%, 09/01/2025 | 78,736 | |
| Pharmaceuticals - 0.2% | |||
| 34,000 | Ascendis Pharma AS 2.25%, 04/01/2028 | 29,962 | |
| 80,000 | Dexcom, Inc. 0.25%, 11/15/2025 | 75,600 | |
| 105,562 | |||
| Software - 0.5% | |||
| 50,000 | Bill Holdings, Inc. 0.00%, 12/01/2025(6) | 47,437 | |
| 92,000 | Ceridian HCM Holding, Inc. 0.25%, 03/15/2026 | 80,081 | |
| 43,000 | Datadog, Inc. 0.13%, 06/15/2025 | 47,343 | |
| 45,000 | Health Catalyst, Inc. 2.50%, 04/15/2025 | 41,976 | |
| 35,000 | Splunk, Inc. 1.13%, 06/15/2027 | 33,075 | |
| 249,912 | |||
| Total Convertible Bonds (cost $1,693,686) | $ 1,450,237 | ||
| CORPORATE BONDS - 42.6% | |||
| Advertising - 0.5% | |||
| 60,000 | Clear Channel Outdoor Holdings, Inc. 9.00%, 09/15/2028(1) | $ 58,173 | |
| Lamar Media Corp. | |||
| 125,000 | 3.63%, 01/15/2031 | 101,014 | |
| 145,000 | 3.75%, 02/15/2028 | 128,365 | |
| 287,552 | |||
| Agriculture - 0.3% | |||
| 160,000 | Darling Ingredients, Inc. 6.00%, 06/15/2030(1) | 150,112 | |
| Auto Manufacturers - 0.0% | |||
| 25,000 | Ford Motor Co. 3.25%, 02/12/2032 | 18,854 | |
| Auto Parts & Equipment - 0.4% | |||
| 20,000 | Clarios Global LP/Clarios U.S. Finance Co. 6.75%, 05/15/2028(1) | 19,412 | |
| EUR 200,000 | Forvia SE 3.75%, 06/15/2028(5) | 192,214 | |
| 211,626 | |||
| Beverages - 0.4% | |||
| $ 216,000 | Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL 5.25%, 04/27/2029(1) | 190,080 | |
| Chemicals - 0.3% | |||
| 80,000 | Avient Corp. 7.13%, 08/01/2030(1) | 76,870 | |
| EUR 100,000 | Itelyum Regeneration SpA 4.63%, 10/01/2026(5) | 94,602 | |
| 171,472 | |||
| Commercial Banks - 7.9% | |||
| 300,000 | Banca Transilvania SA 8.88%, 04/27/2027, 1 yr. EURIBOR ICE Swap + 5.58%(5)(7) | 326,613 | |
| 100,000 | Banco de Credito Social Cooperativo SA 5.25%, 11/27/2031, (5.25% fixed rate until 05/27/2026; 5 yr. EUR Swap + 5.42% thereafter)(5)(7) | 87,731 | |
| $ 200,000 | BBVA Bancomer SA 8.45%, 06/29/2038, 5 yr. USD CMT + 4.66%(1)(7) | 190,672 | |
| BNP Paribas SA | |||
| 400,000 | 7.38%, 08/19/2025, (7.38% fixed rate until 08/19/2025; 5 yr. USD Swap + 5.15% thereafter)(5)(7)(8) | 389,704 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 42.6% - (continued) | |||
| Commercial Banks - 7.9% - (continued) | |||
| EUR 200,000 | 7.38%, 06/11/2030, (7.38% fixed rate until 06/11/2030; 5 yr. EURIBOR ICE Swap + 4.63% thereafter)(5)(7)(8) | $ 204,026 | |
| $ 200,000 | 8.50%, 08/14/2028, (8.50% fixed rate until 08/14/2028; 5 yr. USD CMT + 4.35% thereafter)(1)(7)(8) | 191,670 | |
| EUR 400,000 | Credit Agricole SA 7.25%, 09/23/2028, (7.25% fixed rate until 09/23/2028; 5 yr. EURIBOR ICE Swap + 4.44% thereafter)(5)(7)(8) | 416,986 | |
| 300,000 | Credit Mutuel Arkea SA 1.25%, 06/11/2029, (1.25% fixed rate until 06/11/2028; 3 mo. EURIBOR + 1.50% thereafter)(5)(7) | 275,345 | |
| $ 250,000 | Dah Sing Bank Ltd. 3.00%, 11/02/2031, (3.00% fixed rate until 11/02/2026; 5 yr. USD CMT + 1.95% thereafter)(5)(7) | 219,492 | |
| EUR 100,000 | Danske Bank AS 4.75%, 06/21/2030, (4.75% fixed rate until 06/21/2029; 1 yr. EURIBOR ICE Swap + 1.70% thereafter)(5)(7) | 105,175 | |
| 400,000 | Deutsche Bank AG 4.00%, 06/24/2032, (4.00% fixed rate until 03/24/2027; 5 yr. EURIBOR ICE Swap + 3.30% thereafter)(5)(7) | 380,520 | |
| Freedom Mortgage Corp. | |||
| $ 145,000 | 12.00%, 10/01/2028(1) | 145,005 | |
| 145,000 | 12.25%, 10/01/2030(1) | 144,941 | |
| 400,000 | HSBC Holdings PLC 6.00%, 05/22/2027, (6.00% fixed rate until 05/22/2027; 5 yr. USD ICE Swap + 3.75% thereafter)(7)(8) | 348,399 | |
| KBC Group NV | |||
| EUR 200,000 | 4.25%, 10/24/2025, (4.25% fixed rate until 10/24/2025; 5 yr. EUR Swap + 3.59% thereafter)(5)(7)(8) | 180,525 | |
| $ 200,000 | 5.80%, 01/19/2029, (5.80% fixed rate until 01/19/2028; 1 yr. USD CMT + 2.10% thereafter)(1)(7) | 193,129 | |
| EUR 100,000 | Permanent TSB Group Holdings PLC 3.00%, 08/19/2031, (3.00% fixed rate until 05/19/2026; 5 yr. EUR Swap + 3.22% thereafter)(5)(7) | 92,716 | |
| $ 200,000 | Societe Generale SA 4.75%, 05/26/2026, (4.75% fixed rate until 05/26/2026; 5 yr. USD CMT + 3.93% thereafter)(1)(7)(8) | 160,346 | |
| 200,000 | UBS Group AG 4.88%, 02/12/2027, (4.88% fixed rate until 02/12/2027; 5 yr. USD CMT + 3.40% thereafter)(5)(7)(8) | 164,472 | |
| 4,217,467 | |||
| Commercial Services - 2.0% | |||
| Block, Inc. | |||
| 45,000 | 2.75%, 06/01/2026 | 40,383 | |
| 150,000 | 3.50%, 06/01/2031 | 115,798 | |
| EUR 100,000 | Castor SpA 9.10%, 02/15/2029, 3 mo. Euribor + 5.25%(3)(5) | 98,829 | |
| 100,000 | Loxam SAS 3.25%, 01/14/2025(5) | 103,182 | |
| 200,000 | PeopleCert Wisdom Issuer PLC 5.75%, 09/15/2026(5) | 202,521 | |
| $ 250,000 | StoneCo Ltd. 3.95%, 06/16/2028(5) | 196,124 | |
| United Rentals North America, Inc. | |||
| 29,000 | 3.75%, 01/15/2032 | 23,060 | |
| 35,000 | 4.88%, 01/15/2028 | 32,372 | |
| EUR 255,000 | Verisure Holding AB 3.25%, 02/15/2027(5) | 243,255 | |
| 1,055,524 | |||
| 40 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 42.6% - (continued) | |||
| Construction Materials - 0.3% | |||
| $ 155,000 | Standard Industries, Inc. 4.75%, 01/15/2028(1) | $ 138,790 | |
| Distribution/Wholesale - 0.4% | |||
| 60,000 | American Builders & Contractors Supply Co., Inc. 4.00%, 01/15/2028(1) | 53,850 | |
| EUR 120,000 | Parts Europe SA 6.50%, 07/16/2025(5) | 126,533 | |
| $ 45,000 | Ritchie Bros Holdings, Inc. 7.75%, 03/15/2031(1) | 45,169 | |
| 225,552 | |||
| Diversified Financial Services - 1.7% | |||
| 254,000 | Charles Schwab Corp. 4.00%, 06/01/2026, (4.00% fixed rate until 06/01/2026; 5 yr. USD CMT + 3.17% thereafter)(7)(8) | 202,006 | |
| Credit Acceptance Corp. | |||
| 20,000 | 5.13%, 12/31/2024(1) | 19,336 | |
| 20,000 | 6.63%, 03/15/2026 | 18,977 | |
| OneMain Finance Corp. | |||
| 70,000 | 5.38%, 11/15/2029 | 57,555 | |
| 135,000 | 6.88%, 03/15/2025 | 133,199 | |
| 200,000 | Shriram Finance Ltd. 4.40%, 03/13/2024(5) | 197,280 | |
| 250,000 | Unifin Financiera SAB de CV 9.88%, 01/28/2029(5)(9) | 3,750 | |
| 300,000 | United Wholesale Mortgage LLC 5.50%, 04/15/2029(1) | 252,834 | |
| 884,937 | |||
| Electric - 2.2% | |||
| Clearway Energy Operating LLC | |||
| 180,000 | 3.75%, 01/15/2032(1) | 136,294 | |
| 175,000 | 4.75%, 03/15/2028(1) | 156,204 | |
| 200,000 | Instituto Costarricense de Electricidad 6.75%, 10/07/2031(1) | 186,500 | |
| 200,000 | Investment Energy Resources Ltd. 6.25%, 04/26/2029(5) | 175,000 | |
| 162,160 | Star Energy Geothermal Wayang Windu Ltd. 6.75%, 04/24/2033(5) | 153,669 | |
| 400,000 | Zorlu Yenilenebilir Enerji AS 9.00%, 06/01/2026(5) | 367,624 | |
| 1,175,291 | |||
| Electrical Components & Equipment - 0.3% | |||
| EUR 100,000 | Energizer Gamma Acquisition BV 3.50%, 06/30/2029(5) | 82,997 | |
| $ 100,000 | Energizer Holdings, Inc. 4.38%, 03/31/2029(1) | 82,285 | |
| 165,282 | |||
| Energy-Alternate Sources - 2.2% | |||
| 220,000 | Continuum Energy Aura Pte. Ltd. 9.50%, 02/24/2027(1) | 216,785 | |
| Energo-Pro AS | |||
| 215,000 | 8.50%, 02/04/2027(1) | 203,442 | |
| 200,000 | 11.00%, 11/02/2028(1) | 200,868 | |
| 200,000 | FS Luxembourg Sarl 10.00%, 12/15/2025(5) | 204,206 | |
| 185,000 | Greenko Dutch BV 3.85%, 03/29/2026(5) | 164,650 | |
| 200,000 | Vena Energy Capital Pte. Ltd. 3.13%, 02/26/2025(5) | 190,120 | |
| 1,180,071 | |||
| Engineering & Construction - 1.1% | |||
| EUR 200,000 | Cellnex Telecom SA 1.75%, 10/23/2030(5) | 169,556 | |
| GBP 100,000 | Heathrow Finance PLC 3.88%, 03/01/2027(5) | 106,156 | |
| IHS Holding Ltd. | |||
| $ 200,000 | 6.25%, 11/29/2028(1) | 147,116 | |
| 200,000 | 6.25%, 11/29/2028(5) | 147,116 | |
| 569,944 | |||
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 42.6% - (continued) | |||
| Entertainment - 0.3% | |||
| Caesars Entertainment, Inc. | |||
| $ 25,000 | 6.25%, 07/01/2025(1) | $ 24,634 | |
| 30,000 | 8.13%, 07/01/2027(1) | 29,724 | |
| 28,000 | Cinemark USA, Inc. 5.25%, 07/15/2028(1) | 24,338 | |
| EUR 100,000 | Motion Finco SARL 7.38%, 06/15/2030(1) | 100,532 | |
| 179,228 | |||
| Environmental Control - 0.4% | |||
| $ 25,000 | Clean Harbors, Inc. 6.38%, 02/01/2031(1) | 23,761 | |
| 200,000 | Stericycle, Inc. 3.88%, 01/15/2029(1) | 169,930 | |
| 193,691 | |||
| Food Service - 0.5% | |||
| EUR 300,000 | Elior Group SA 3.75%, 07/15/2026(5) | 245,673 | |
| Forest Products & Paper - 0.3% | |||
| $ 200,000 | Suzano Austria GmbH 7.00%, 03/16/2047(5) | 186,996 | |
| Healthcare - Products - 0.8% | |||
| EUR 200,000 | Avantor Funding, Inc. 3.88%, 07/15/2028(5) | 192,638 | |
| $ 30,000 | Bausch & Lomb Escrow Corp. 8.38%, 10/01/2028(1)(10) | 29,754 | |
| 250,000 | Medline Borrower LP 3.88%, 04/01/2029(1) | 211,370 | |
| 433,762 | |||
| Healthcare - Services - 1.2% | |||
| EUR 100,000 | Catalent Pharma Solutions, Inc. 2.38%, 03/01/2028(5) | 86,647 | |
| $ 10,000 | HCA, Inc. 7.50%, 11/15/2095 | 10,090 | |
| IQVIA, Inc. | |||
| EUR 100,000 | 2.25%, 01/15/2028(1) | 92,861 | |
| $ 200,000 | 5.00%, 05/15/2027(1) | 187,836 | |
| 200,000 | Rede D'or Finance SARL 4.50%, 01/22/2030(5) | 162,455 | |
| 105,000 | Tenet Healthcare Corp. 6.13%, 06/15/2030 | 97,196 | |
| 637,085 | |||
| Insurance - 1.6% | |||
| 400,000 | AIA Group Ltd. 2.70%, 04/07/2026, (2.70% fixed rate until 04/07/2026; 5 yr. USD CMT + 1.76% thereafter)(5)(7)(8) | 347,490 | |
| 35,000 | AssuredPartners, Inc. 5.63%, 01/15/2029(1) | 29,692 | |
| 130,000 | MGIC Investment Corp. 5.25%, 08/15/2028 | 119,489 | |
| 400,000 | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 5.88%, 05/23/2042, (5.88% fixed rate until 11/23/2031; 5 yr. USD CMT + 3.98% thereafter)(1)(7) | 378,621 | |
| 875,292 | |||
| Internet - 0.7% | |||
| Gen Digital, Inc. | |||
| 30,000 | 6.75%, 09/30/2027(1) | 29,205 | |
| 60,000 | 7.13%, 09/30/2030(1) | 58,367 | |
| 235,000 | Go Daddy Operating Co. LLC/GD Finance Co., Inc. 3.50%, 03/01/2029(1) | 195,344 | |
| 100,000 | Uber Technologies, Inc. 4.50%, 08/15/2029(1) | 88,196 | |
| 371,112 | |||
| Investment Company Security - 0.3% | |||
| 205,000 | Huarong Finance 2017 Co. Ltd. 4.75%, 04/27/2027(5) | 177,838 | |
| Iron/Steel - 0.1% | |||
| 40,000 | ATI, Inc. 7.25%, 08/15/2030 | 38,507 | |
| IT Services - 0.9% | |||
| 210,000 | CA Magnum Holdings 5.38%, 10/31/2026(5) | 183,399 | |
| 41 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 42.6% - (continued) | |||
| IT Services - 0.9% - (continued) | |||
| $ 193,000 | McAfee Corp. 7.38%, 02/15/2030(1) | $ 154,393 | |
| 160,000 | Presidio Holdings, Inc. 8.25%, 02/01/2028(1) | 151,412 | |
| 489,204 | |||
| Leisure Time - 0.6% | |||
| Carnival Corp. | |||
| 60,000 | 6.00%, 05/01/2029(1) | 50,696 | |
| 125,000 | 10.50%, 06/01/2030(1) | 126,827 | |
| 69,000 | MajorDrive Holdings IV LLC 6.38%, 06/01/2029(1) | 53,503 | |
| 80,000 | Royal Caribbean Cruises Ltd. 7.25%, 01/15/2030(1) | 78,885 | |
| 309,911 | |||
| Media - 1.5% | |||
| 125,000 | Cable One, Inc. 4.00%, 11/15/2030(1) | 93,125 | |
| 20,000 | DISH DBS Corp. 5.75%, 12/01/2028(1) | 14,525 | |
| 30,000 | DISH Network Corp. 11.75%, 11/15/2027(1) | 29,717 | |
| 120,000 | Scripps Escrow II, Inc. 5.38%, 01/15/2031(1)(10) | 73,500 | |
| 225,000 | Scripps Escrow, Inc. 5.88%, 07/15/2027(1)(10) | 168,187 | |
| 125,000 | Videotron Ltd. 3.63%, 06/15/2029(1) | 104,727 | |
| GBP 100,000 | Virgin Media Vendor Financing Notes III DAC 4.88%, 07/15/2028(5) | 101,457 | |
| $ 200,000 | VTR Finance NV 6.38%, 07/15/2028(5) | 34,000 | |
| EUR 210,000 | Ziggo BV 2.88%, 01/15/2030(5) | 176,744 | |
| 795,982 | |||
| Metal Fabricate/Hardware - 0.3% | |||
| Advanced Drainage Systems, Inc. | |||
| $ 160,000 | 5.00%, 09/30/2027(1) | 149,200 | |
| 30,000 | 6.38%, 06/15/2030(1) | 28,295 | |
| 177,495 | |||
| Mining - 1.2% | |||
| 300,000 | Constellium SE 3.75%, 04/15/2029(1) | 247,485 | |
| 110,000 | FMG Resources August 2006 Pty. Ltd. 6.13%, 04/15/2032(1) | 97,235 | |
| 315,000 | WE Soda Investments Holding PLC 9.50%, 10/06/2028(1) | 314,118 | |
| 658,838 | |||
| Multi-National - 0.4% | |||
| BRL 690,000 | European Investment Bank 9.25%, 01/28/2027(5) | 134,887 | |
| MXN 2,160,000 | International Bank for Reconstruction & Development 5.65%, 06/03/2027 | 101,780 | |
| 236,667 | |||
| Office/Business Equipment - 0.2% | |||
| $ 125,000 | Xerox Holdings Corp. 5.00%, 08/15/2025(1) | 114,993 | |
| Packaging & Containers - 1.0% | |||
| GBP 100,000 | Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. 4.75%, 07/15/2027(5) | 84,927 | |
| Ball Corp. | |||
| EUR 100,000 | 1.50%, 03/15/2027 | 94,734 | |
| $ 40,000 | 5.25%, 07/01/2025 | 39,376 | |
| 70,000 | Clydesdale Acquisition Holdings, Inc. 6.63%, 04/15/2029(1) | 63,591 | |
| 200,000 | SAN Miguel Industrias Pet SA/NG PET R&P Latin America SA 3.50%, 08/02/2028(5) | 163,011 | |
| EUR 110,000 | Trivium Packaging Finance BV 3.75%, 08/15/2026(5) | 104,943 | |
| 550,582 | |||
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 42.6% - (continued) | |||
| Pharmaceuticals - 1.2% | |||
| $ 45,000 | Bausch Health Cos., Inc. 11.00%, 09/30/2028(1) | $ 27,450 | |
| 123,000 | Owens & Minor, Inc. 6.63%, 04/01/2030(1)(11) | 107,403 | |
| 155,000 | Prestige Brands, Inc. 5.13%, 01/15/2028(1) | 142,905 | |
| Teva Pharmaceutical Finance Netherlands II BV | |||
| EUR 200,000 | 3.75%, 05/09/2027 | 192,359 | |
| 220,000 | 4.38%, 05/09/2030 | 198,036 | |
| 668,153 | |||
| Real Estate - 0.9% | |||
| GBP 200,000 | Canary Wharf Group Investment Holdings PLC 3.38%, 04/23/2028(5) | 160,612 | |
| EUR 100,000 | Castellum AB 3.13%, 12/02/2026, (3.13% fixed rate until 12/02/2026; 5 yr. EUR Swap + 3.45% thereafter)(5)(7)(8) | 74,598 | |
| $ 200,000 | CIFI Holdings Group Co. Ltd. 4.38%, 04/12/2027(5)(9) | 9,520 | |
| 400,000 | Country Garden Holdings Co. Ltd. 3.88%, 10/22/2030(5) | 16,400 | |
| EUR 100,000 | Emeria SASU 7.75%, 03/31/2028(1) | 97,001 | |
| $ 200,000 | Fuqing Investment Management Ltd. 3.25%, 06/23/2025(5) | 122,000 | |
| 480,131 | |||
| Real Estate Investment Trusts - 0.9% | |||
| Brandywine Operating Partnership LP | |||
| 157,000 | 3.95%, 11/15/2027 | 130,209 | |
| 60,000 | 7.80%, 03/15/2028 | 54,125 | |
| GBP 20,000 | Hammerson PLC 7.25%, 04/21/2028(5) | 23,123 | |
| HAT Holdings I LLC/HAT Holdings II LLC | |||
| $ 68,000 | 3.75%, 08/15/2028(1) | 59,172 | |
| 100,000 | 6.00%, 04/15/2025(1) | 97,170 | |
| 200,000 | Trust Fibra Uno 6.39%, 01/15/2050(5) | 139,822 | |
| 503,621 | |||
| Retail - 1.4% | |||
| GBP 100,000 | B&M European Value Retail SA 4.00%, 11/15/2028(5) | 101,930 | |
| $ 200,000 | Jollibee Worldwide Pte. Ltd. 3.90%, 01/23/2025, (3.90% fixed rate until 01/23/2025; 5 yr. USD CMT + 4.78% thereafter)(5)(7)(8) | 191,500 | |
| 83,000 | LBM Acquisition LLC 6.25%, 01/15/2029(1) | 65,570 | |
| 110,000 | Michaels Cos., Inc. 5.25%, 05/01/2028(1) | 79,701 | |
| 150,000 | Specialty Building Products Holdings LLC/SBP Finance Corp. 6.38%, 09/30/2026(1) | 139,550 | |
| 199,000 | Yum! Brands, Inc. 3.63%, 03/15/2031 | 161,597 | |
| 739,848 | |||
| Software - 0.8% | |||
| 172,000 | AthenaHealth Group, Inc. 6.50%, 02/15/2030(1) | 140,372 | |
| 80,000 | Dun & Bradstreet Corp. 5.00%, 12/15/2029(1) | 68,824 | |
| Open Text Corp. | |||
| 165,000 | 3.88%, 02/15/2028(1) | 142,750 | |
| 15,000 | 3.88%, 12/01/2029(1) | 12,268 | |
| 50,000 | Open Text Holdings, Inc. 4.13%, 12/01/2031(1) | 39,221 | |
| 403,435 | |||
| Telecommunications - 3.2% | |||
| EUR 100,000 | Altice France SA 5.88%, 02/01/2027(5) | 87,509 | |
| $ 200,000 | Axian Telecom 7.38%, 02/16/2027(1) | 177,540 | |
| EUR 100,000 | eircom Finance DAC 3.50%, 05/15/2026(5) | 98,428 | |
| 42 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 42.6% - (continued) | |||
| Telecommunications - 3.2% - (continued) | |||
| Frontier Communications Holdings LLC | |||
| $ 80,000 | 5.00%, 05/01/2028(1) | $ 69,015 | |
| 95,000 | 5.88%, 10/15/2027(1) | 86,822 | |
| 200,000 | Liquid Telecommunications Financing PLC 5.50%, 09/04/2026(5) | 122,377 | |
| 180,000 | Millicom International Cellular SA 6.25%, 03/25/2029(5) | 156,167 | |
| 200,000 | MTN Mauritius Investments Ltd. 6.50%, 10/13/2026(5) | 195,260 | |
| 400,000 | Network i2i Ltd. 3.98%, 12/31/2099, (3.98% fixed rate until 06/03/2026; 5 yr. USD CMT + 3.39% thereafter)(5)(7)(8) | 359,996 | |
| 115,000 | Nokia OYJ 4.38%, 06/12/2027 | 106,414 | |
| 210,000 | Telecom Argentina SA 8.00%, 07/18/2026(5) | 197,758 | |
| Telecom Italia Capital SA | |||
| 25,000 | 7.20%, 07/18/2036 | 21,617 | |
| 22,000 | 7.72%, 06/04/2038 | 19,421 | |
| EUR 10,000 | Telecom Italia Finance SA 7.75%, 01/24/2033 | 11,054 | |
| 1,709,378 | |||
| Toys/Games/Hobbies - 0.1% | |||
| $ 60,000 | Mattel, Inc. 5.88%, 12/15/2027(1) | 57,519 | |
| Transportation - 0.8% | |||
| 285,000 | First Student Bidco, Inc./First Transit Parent, Inc. 4.00%, 07/31/2029(1) | 229,425 | |
| 230,000 | Rumo Luxembourg SARL 5.25%, 01/10/2028(5) | 210,125 | |
| 439,550 | |||
| Water - 1.0% | |||
| Aegea Finance SARL | |||
| 400,000 | 6.75%, 05/20/2029(1) | 366,057 | |
| 200,000 | 6.75%, 05/20/2029(5) | 183,029 | |
| 549,086 | |||
| Total Corporate Bonds (cost $25,622,974) | $ 22,866,131 | ||
| FOREIGN GOVERNMENT OBLIGATIONS - 7.2% | |||
| Benin - 0.3% | |||
| EUR 200,000 | Benin Government International Bonds 4.88%, 01/19/2032(5) | $ 157,713 | |
| Chile - 0.2% | |||
| CLP 85,000,000 | Bonos de la Tesoreria de la Republica en pesos 4.70%, 09/01/2030(5) | 84,363 | |
| Colombia - 1.1% | |||
| Colombia Government International Bonds | |||
| EUR 100,000 | 3.88%, 03/22/2026 | 101,753 | |
| $ 640,000 | 5.00%, 06/15/2045 | 407,716 | |
| COP 581,200,000 | Colombia TES 7.00%, 06/30/2032 | 106,189 | |
| 615,658 | |||
| Costa Rica - 0.4% | |||
| $ 200,000 | Costa Rica Government International Bonds 6.55%, 04/03/2034(1) | 190,500 | |
| Czech Republic - 0.2% | |||
| CZK 2,430,000 | Czech Republic Government Bonds 2.50%, 08/25/2028(5) | 95,532 | |
| Gabon - 0.3% | |||
| $ 200,000 | Gabon Government International Bonds 6.95%, 06/16/2025(5) | 174,194 | |
| Shares or Principal Amount | Market Value† | ||
| FOREIGN GOVERNMENT OBLIGATIONS - 7.2% - (continued) | |||
| Ghana - 0.2% | |||
| $ 200,000 | Ghana Government International Bonds 6.38%, 02/11/2027(5)(9) | $ 87,000 | |
| Hungary - 0.2% | |||
| HUF 45,850,000 | Hungary Government Bonds 3.00%, 08/21/2030 | 98,250 | |
| Ivory Coast - 0.3% | |||
| EUR 200,000 | Ivory Coast Government International Bonds 5.88%, 10/17/2031(5) | 171,763 | |
| Mexico - 0.6% | |||
| Mexico Government International Bonds | |||
| 150,000 | 1.13%, 01/17/2030 | 127,633 | |
| 200,000 | 1.45%, 10/25/2033 | 148,297 | |
| 100,000 | 2.13%, 10/25/2051 | 53,511 | |
| 329,441 | |||
| North Macedonia - 0.5% | |||
| North Macedonia Government International Bonds | |||
| 100,000 | 3.68%, 06/03/2026(1) | 99,024 | |
| 200,000 | 3.68%, 06/03/2026(5) | 198,048 | |
| 297,072 | |||
| Peru - 0.4% | |||
| $ 225,000 | Fondo MIVIVIENDA SA 4.63%, 04/12/2027(1) | 211,193 | |
| Poland - 0.2% | |||
| PLN 500,000 | Republic of Poland Government Bonds 3.75%, 05/25/2027 | 113,221 | |
| Romania - 0.5% | |||
| Romania Government International Bonds | |||
| EUR 80,000 | 2.12%, 07/16/2031(5) | 62,596 | |
| 81,000 | 2.75%, 04/14/2041(1) | 50,459 | |
| 30,000 | 2.75%, 04/14/2041(5) | 18,689 | |
| 189,000 | 2.88%, 04/13/2042(5) | 117,049 | |
| 248,793 | |||
| Senegal - 0.1% | |||
| 100,000 | Senegal Government International Bonds 5.38%, 06/08/2037(1) | 67,470 | |
| South Africa - 0.1% | |||
| ZAR 1,630,000 | Republic of South Africa Government Bonds 8.00%, 01/31/2030 | 76,458 | |
| Sri Lanka - 0.4% | |||
| Sri Lanka Government International Bonds | |||
| $ 200,000 | 5.75%, 04/18/2023(5)(9) | 103,924 | |
| 200,000 | 6.85%, 03/14/2024(5)(9) | 102,851 | |
| 206,775 | |||
| Supranational - 0.6% | |||
| INR 8,800,000 | Asian Development Bank 6.20%, 10/06/2026 | 102,249 | |
| CNY 810,000 | European Bank for Reconstruction & Development 2.00%, 01/21/2025 | 109,655 | |
| IDR 1,670,000,000 | European Investment Bank 5.75%, 01/24/2025(5) | 104,584 | |
| 316,488 | |||
| Turkey - 0.4% | |||
| $ 200,000 | Turkiye Government International Bonds 9.13%, 07/13/2030 | 199,750 | |
| 43 |
| Shares or Principal Amount | Market Value† | ||
| FOREIGN GOVERNMENT OBLIGATIONS - 7.2% - (continued) | |||
| Uruguay - 0.2% | |||
| Uruguay Government International Bonds | |||
| UYU 2,778,916 | 4.38%, 12/15/2028(12) | $ 72,016 | |
| 885,000 | 8.50%, 03/15/2028(5) | 21,016 | |
| 93,032 | |||
| Total Foreign Government Obligations (cost $4,775,995) | $ 3,834,666 | ||
| SENIOR FLOATING RATE INTERESTS - 11.5%(13) | |||
| Commercial Services - 1.6% | |||
| $ 219,763 | APX Group, Inc. 8.93%, 07/10/2028, PRIME + 3.25% | $ 219,420 | |
| EUR 250,000 | Techem Verwaltungsgesellschaft 675 mbH 6.28%, 07/15/2025, 6 mo. EURIBOR + 2.38% | 262,104 | |
| $ 193,812 | Trans Union LLC 7.17%, 11/16/2026, 1 mo. USD Term SOFR + 1.75% | 193,328 | |
| EUR 200,000 | Verisure Holding AB 6.97%, 03/27/2028, 3 mo. EURIBOR + 3.00% | 206,026 | |
| 880,878 | |||
| Construction Materials - 0.2% | |||
| $ 121,055 | Emerald Borrower LP 8.38%, 05/31/2030, 3 mo. USD Term SOFR + 3.00% | 120,733 | |
| Distribution/Wholesale - 0.4% | |||
| 195,170 | American Builders & Contractors Supply Co., Inc. 7.42%, 01/15/2027, 1 mo. USD Term SOFR + 2.00% | 194,704 | |
| Environmental Control - 0.4% | |||
| 196,500 | Clean Harbors, Inc. 7.44%, 10/08/2028, 1 mo. USD Term SOFR + 2.00% | 197,074 | |
| Food - 0.2% | |||
| 104,217 | U.S. Foods, Inc. 7.94%, 11/22/2028, 1 mo. USD Term SOFR + 2.00% | 104,399 | |
| Healthcare - Products - 1.1% | |||
| 99,614 | Avantor Funding, Inc. 7.67%, 11/08/2027, 1 mo. USD Term SOFR + 2.25% | 99,503 | |
| 100,000 | Bausch & Lomb Corp. 9.32%, 09/29/2028, 3 mo. USD Term SOFR + 4.00% | 96,000 | |
| 198,982 | Insulet Corp. 8.69%, 05/04/2028, 1 mo. USD Term SOFR + 3.25% | 198,071 | |
| 197,995 | Medline Borrower LP 8.69%, 10/23/2028, 1 mo. USD Term SOFR + 3.25% | 196,635 | |
| 590,209 | |||
| Healthcare - Services - 0.7% | |||
| 146,616 | Catalent Pharma Solutions, Inc. 7.45%, 02/22/2028, 1 mo. USD Term SOFR + 2.00% | 143,073 | |
| 250,000 | IQVIA, Inc. 7.40%, 06/11/2025, 3 mo. USD Term SOFR + 1.75% | 250,250 | |
| 393,323 | |||
| Home Builders - 0.2% | |||
| 112,992 | Installed Building Products, Inc. 7.44%, 12/14/2028, 1 mo. USD Term SOFR + 2.00% | 112,851 | |
| Insurance - 0.7% | |||
| 199,499 | Asurion LLC 9.67%, 08/19/2028, 1 mo. USD Term SOFR + 4.25% | 190,210 | |
| 183,053 | HUB International Ltd. 9.66%, 06/20/2030, 3 mo. USD Term SOFR + 4.25% | 182,924 | |
| 373,134 | |||
| Shares or Principal Amount | Market Value† | ||
| SENIOR FLOATING RATE INTERESTS - 11.5%(13) - (continued) | |||
| Internet - 0.6% | |||
| $ 169,302 | Go Daddy Operating Co. LLC 7.82%, 11/09/2029, 3 mo. USD Term SOFR + 2.50% | $ 169,341 | |
| 171,938 | Proofpoint, Inc. 8.69%, 08/31/2028, 1 mo. USD Term SOFR + 3.25% | 168,881 | |
| 338,222 | |||
| Leisure Time - 0.3% | |||
| 194,763 | Hayward Industries, Inc. 8.19%, 05/30/2028, 1 mo. USD Term SOFR + 2.75% | 191,041 | |
| Machinery-Diversified - 0.4% | |||
| 194,573 | Gardner Denver, Inc. 7.17%, 03/01/2027, 1 mo. USD Term SOFR + 1.75% | 194,728 | |
| Packaging & Containers - 0.6% | |||
| 316,000 | Clydesdale Acquisition Holdings, Inc. 9.60%, 04/13/2029, 1 mo. USD Term SOFR + 4.18% | 305,231 | |
| Pharmaceuticals - 1.3% | |||
| EUR 234,875 | Grifols SA 6.11%, 11/15/2027, 1 mo. EURIBOR + 2.25% | 241,694 | |
| 290,000 | IVC Acquisition Ltd. 7.69%, 02/13/2026, 6 mo. EURIBOR + 4.00% | 302,027 | |
| $ 137,186 | Packaging Coordinators Midco, Inc. 9.15%, 11/30/2027, 3 mo. USD Term SOFR + 3.50% | 135,299 | |
| 679,020 | |||
| Retail - 0.4% | |||
| 244,371 | LBM Acquisition LLC 9.17%, 12/17/2027, 1 mo. USD Term SOFR + 3.75% | 232,152 | |
| Semiconductors - 0.4% | |||
| 198,000 | MKS Instruments, Inc. 7.82%, 08/17/2029, 1 mo. USD Term SOFR + 2.50% | 196,184 | |
| Software - 1.5% | |||
| 200,000 | DCert Buyer, Inc. 12.32%, 02/19/2029, 1 mo. USD Term SOFR + 7.00% | 178,334 | |
| 153,062 | McAfee LLC 9.16%, 03/01/2029, 1 mo. USD Term SOFR + 3.75% | 146,080 | |
| 100,000 | Severin Acquisition LLC 0.00%, 08/01/2027, 1 mo. USD Term SOFR + 3.00%(14) | 99,786 | |
| 170,034 | Surf Holdings LLC 8.96%, 03/05/2027, 1 mo. USD Term SOFR + 3.50% | 168,838 | |
| 194,984 | Zelis Healthcare Corp. 8.94%, 09/30/2026, 1 mo. USD Term SOFR + 3.50% | 194,771 | |
| 787,809 | |||
| Telecommunications - 0.2% | |||
| 141,854 | Xplornet Communications, Inc. 9.65%, 10/02/2028, 3 mo. USD Term SOFR + 4.00% | 94,075 | |
| Transportation - 0.3% | |||
| First Student Bidco, Inc. | |||
| 53,922 | 8.65%, 07/21/2028, 3 mo. USD Term SOFR + 3.00% | 52,186 | |
| 143,073 | 8.66%, 07/21/2028, 3 mo. USD Term SOFR + 3.00% | 138,467 | |
| 190,653 | |||
| Total Senior Floating Rate Interests (cost $6,412,370) | $ 6,176,420 | ||
| 44 |
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT AGENCIES - 13.5% | |||
| Mortgage-Backed Agencies - 13.5% | |||
| Federal Home Loan Mortgage Corp. - 2.4% | |||
| $ 325,939 | 5.00%, 09/01/2052 | $ 300,910 | |
| 55,000 | 8.72%, 10/25/2041, 30 day USD SOFR Average + 3.40%(1)(3) | 55,275 | |
| 90,000 | 9.07%, 02/25/2042, 30 day USD SOFR Average + 3.75%(1)(3) | 91,238 | |
| 175,000 | 9.67%, 04/25/2042, 30 day USD SOFR Average + 4.35%(1)(3) | 181,480 | |
| 115,000 | 10.57%, 03/25/2042, 30 day USD SOFR Average + 5.25%(1)(3) | 120,714 | |
| 25,000 | 10.82%, 05/25/2043, 30 day USD SOFR Average + 5.50%(1)(3) | 26,552 | |
| 150,000 | 11.07%, 09/25/2042, 30 day USD SOFR Average + 5.75%(1)(3) | 162,888 | |
| 155,000 | 11.32%, 07/25/2042, 30 day USD SOFR Average + 6.00%(1)(3) | 167,632 | |
| 175,000 | 13.04%, 03/25/2050, 30 day USD SOFR Average + 7.71%(1)(3) | 189,734 | |
| 1,296,423 | |||
| Federal National Mortgage Association - 0.6% | |||
| 324,612 | 5.00%, 09/01/2052 | 299,685 | |
| Uniform Mortgage-Backed Security - 10.5% | |||
| 2,410,000 | 4.50%, 11/13/2053(15) | 2,154,623 | |
| 3,600,000 | 6.00%, 11/01/2053(15) | 3,503,588 | |
| 5,658,211 | |||
| Total U.S. Government Agencies (cost $7,301,415) | $ 7,254,319 | ||
| U.S. GOVERNMENT SECURITIES - 21.8% | |||
| U.S. Treasury Securities - 21.8% | |||
| U.S. Treasury Bonds - 7.8% | |||
| 1,690,000 | 2.50%, 05/15/2046(16) | $ 1,078,827 | |
| 2,145,000 | 3.38%, 11/15/2048 | 1,599,450 | |
| 470,000 | 3.63%, 08/15/2043 | 377,010 | |
| 295,000 | 3.63%, 02/15/2053 | 231,667 | |
| 525,000 | 3.63%, 05/15/2053 | 412,453 | |
| 575,000 | 3.88%, 02/15/2043 | 480,664 | |
| 4,180,071 | |||
| U.S. Treasury Inflation-Protected Bonds - 1.2% | |||
| 126,819 | 0.13%, 02/15/2052(12) | 66,267 | |
| 985,083 | 0.25%, 02/15/2050(12) | 551,743 | |
| 618,010 | |||
| U.S. Treasury Inflation-Protected Notes - 1.4% | |||
| 834,083 | 0.25%, 07/15/2029(12) | 738,685 | |
| U.S. Treasury Notes - 11.4% | |||
| 1,940,000 | 1.88%, 02/15/2032(17) | 1,545,180 | |
| 320,000 | 2.88%, 05/15/2032 | 275,187 | |
| 1,675,000 | 3.50%, 02/15/2033 | 1,503,051 | |
| 2,165,000 | 3.88%, 11/30/2027 | 2,086,265 | |
| 750,000 | 4.13%, 07/31/2028 | 727,881 | |
| 6,137,564 | |||
| Total U.S. Government Securities (cost $13,395,182) | $ 11,674,330 | ||
| COMMON STOCKS - 0.0% | |||
| Automobiles & Components - 0.0% | |||
| 83 | Aptiv PLC* | $ 7,238 | |
| Health Care Equipment & Services - 0.0% | |||
| 17 | Becton Dickinson & Co.* | 4,297 | |
| Shares or Principal Amount | Market Value† | ||
| COMMON STOCKS - 0.0% - (continued) | |||
| Pharmaceuticals, Biotechnology & Life Sciences - 0.0% | |||
| 35 | Danaher Corp.* | $ 6,721 | |
| Total Common Stocks (cost $21,236) | $ 18,256 | ||
| PREFERRED STOCKS - 0.1% | |||
| Utilities - 0.1% | |||
| 1,049 | NextEra Energy, Inc. (Preference Shares), 6.93% | $ 39,380 | |
| Total Preferred Stocks (cost $51,139) | $ 39,380 | ||
| Total Long-Term Investments (cost $63,975,516) | $ 57,873,945 | ||
| SHORT-TERM INVESTMENTS - 0.4% | |||
| Repurchase Agreements - 0.1% | |||
| $ 68,534 | Fixed Income Clearing Corp. Repurchase Agreement dated 10/31/2023 at 5.28%, due on 11/01/2023 with a maturity value of $68,544; collateralized by U.S. Treasury Note at 0.75%, maturing 03/31/2026, with a market value of $69,927 | $ 68,534 | |
| Securities Lending Collateral - 0.3% | |||
| 22,207 | Goldman Sachs Financial Square Funds, Government Fund, Institutional Class, 5.26%(18) | 22,207 | |
| 74,025 | HSBC U.S. Government Money Market Fund, Institutional Class, 5.29%(18) | 74,025 | |
| 22,208 | Invesco Government & Agency Portfolio, Institutional Class, 5.28%(18) | 22,208 | |
| 22,208 | Morgan Stanley Institutional Liquidity Funds, Government Portfolio, Institutional Class, 5.26%(18) | 22,208 | |
| 140,648 | |||
| Total Short-Term Investments (cost $209,182) | $ 209,182 | ||
| Total Investments (cost $64,184,698) | 108.3% | $ 58,083,127 | |
| Other Assets and Liabilities | (8.3)% | (4,433,877) | |
| Total Net Assets | 100.0% | $ 53,649,250 | |
| Note: | Percentage of investments as shown is the ratio of the total market value to total net assets. |
| The Fund may refer to any one or more of the industry classifications used by one or more widely recognized market indices, ratings group and/or as defined by Fund management. Industry classifications may not be identical across all security types. | |
| For Fund compliance purposes, the Fund may not use the same classification system. These classifications are used for financial reporting purposes. | |
| See “Glossary” for abbreviation descriptions. |
| * | 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, 2023, the aggregate value of these securities was $15,618,265, representing 29.1% of net assets. |
| 45 |
| (2) | Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| (3) | Variable rate securities; the rate reported is the coupon rate in effect at October 31, 2023. Base lending rates may be subject to a floor or cap. |
| (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 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, 2023, the aggregate value of these securities was $12,489,166, representing 23.3% of net assets. |
| (6) | Security is a zero-coupon bond. |
| (7) | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at October 31, 2023. Rate will reset at a future date. Base lending rates may be subject to a floor or cap. |
| (8) | Perpetual maturity security. Maturity date shown is the next call date or final legal maturity date, whichever comes first. |
| (9) | Non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal. |
| (10) | Share amount represents shares of the issuer previously held that resulted in receipt of the escrow. |
| (11) | Represents entire or partial securities on loan. |
| (12) | The principal amount for these securities are adjusted for inflation and the interest payments equal a fixed percentage of the inflation-adjusted principal amount. |
| (13) | 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 is primarily the Secured Overnight Financing Rate ("SOFR") and secondarily, the synthetic London Interbank Offered Rate ("LIBOR") or 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, 2023. |
| (14) | Represents an unsettled loan commitment. The coupon rate will be determined at time of settlement. |
| (15) | Represents or includes a TBA transaction. |
| (16) | All, or a portion of the security, was pledged as collateral in connection with centrally cleared swap contracts. As of October 31, 2023, the market value of securities pledged was $606,441. |
| (17) | All, or a portion of the security, was pledged as collateral in connection with futures contracts. As of October 31, 2023, the market value of securities pledged was $422,137. |
| (18) | Current yield as of period end. |
| Futures Contracts Outstanding at October 31, 2023 | ||||||||
| Description | Number of Contracts | Expiration Date | Current Notional Amount | Value and Unrealized Appreciation/ (Depreciation) | ||||
| Long position contracts: | ||||||||
| Euro-BUND Future | 4 | 12/07/2023 | $ 545,369 | $ (342) | ||||
| Euro-Schatz Future | 3 | 12/07/2023 | 333,510 | 822 | ||||
| Long Gilt Future | 3 | 12/27/2023 | 339,135 | (5,477) | ||||
| U.S. Treasury 2-Year Note Future | 64 | 12/29/2023 | 12,955,000 | (29,033) | ||||
| U.S. Treasury 5-Year Note Future | 42 | 12/29/2023 | 4,388,016 | (1,429) | ||||
| U.S. Treasury 10-Year Note Future | 43 | 12/19/2023 | 4,565,391 | (121,243) | ||||
| U.S. Treasury 10-Year Ultra Future | 10 | 12/19/2023 | 1,088,281 | (59,868) | ||||
| Total | $ (216,570) | |||||||
| Short position contracts: | ||||||||
| Euro BUXL 30-Year Bond Future | 4 | 12/07/2023 | $ 509,136 | $ 43,384 | ||||
| Euro-BOBL Future | 29 | 12/07/2023 | 3,564,636 | 17,859 | ||||
| Euro-BTP Future | 8 | 12/07/2023 | 932,020 | 31,235 | ||||
| U.S. Treasury Ultra Bond Future | 6 | 12/19/2023 | 675,375 | 91,821 | ||||
| Total | $ 184,299 | |||||||
| Total futures contracts | $ (32,271) | |||||||
| 46 |
| Centrally Cleared Credit Default Swap Contracts Outstanding at October 31, 2023 | |||||||||||||||||
| 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: | |||||||||||||||||
| Sell protection: | |||||||||||||||||
| CDX.NA.HY.S41.V1 | USD | 4,150,000 | 5.00% | 12/20/2028 | Quarterly | $ 22,132 | $ — | $ 5,086 | $ (17,046) | ||||||||
| ITRAXX-XOVER S40.V1 | EUR | 915,000 | 5.00% | 12/20/2028 | Quarterly | 30,656 | — | 24,572 | (6,084) | ||||||||
| Total centrally cleared credit default swap contracts | $ 52,788 | $ — | $ 29,658 | $ (23,130) | |||||||||||||
| (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, 2023 | |||||||||||||||||
| 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) | |||||||||
| 2.97% Fixed | 12 Mo. USD SOFR | USD | 280,000 | 03/15/2053 | Annual | $ 884 | $ — | $ 65,541 | $ 64,657 | ||||||||
| 2.88% Fixed | 12 Mo. USD SOFR | USD | 190,000 | 03/15/2053 | Annual | 2,164 | — | 47,376 | 45,212 | ||||||||
| 3.25% Fixed | 12 Mo. USD SOFR | USD | 125,000 | 06/21/2053 | Annual | — | (1,293) | 22,747 | 24,040 | ||||||||
| 3.59% Fixed | 12 Mo. USD SOFR | USD | 390,000 | 09/20/2053 | Annual | 1,753 | — | 46,957 | 45,204 | ||||||||
| Total centrally cleared interest rate swaps contracts | $ 4,801 | $ (1,293) | $ 182,621 | $ 179,113 | |||||||||||||
| Foreign Currency Contracts Outstanding at October 31, 2023 | ||||||||||
| Amount and Description of Currency to be Purchased | Amount and Description of Currency to be Sold | Counterparty | Settlement Date | Appreciation/ (Depreciation) | ||||||
| 138,000 | CAD | 100,217 | USD | TDB | 11/30/2023 | $ (771) | ||||
| 25,000 | EUR | 26,455 | USD | GSC | 11/30/2023 | 4 | ||||
| 255,000 | EUR | 270,623 | USD | SCB | 12/20/2023 | (437) | ||||
| 721,000 | EUR | 766,735 | USD | JPM | 12/20/2023 | (2,795) | ||||
| 7,000 | GBP | 8,495 | USD | GSC | 11/30/2023 | — | ||||
| 42,700,000 | KZT | 86,613 | USD | BOA | 03/20/2024 | 860 | ||||
| 141,967 | USD | 220,000 | AUD | MSC | 12/20/2023 | 2,434 | ||||
| 25,426 | USD | 40,000 | AUD | SCB | 12/20/2023 | 56 | ||||
| 102,095 | USD | 141,000 | CAD | BCLY | 11/30/2023 | 488 | ||||
| 136,425 | USD | 185,000 | CAD | MSC | 12/20/2023 | 3,042 | ||||
| 25,732 | USD | 35,000 | CAD | DEUT | 12/20/2023 | 497 | ||||
| 83,784 | USD | 79,000 | EUR | SCB | 11/30/2023 | 174 | ||||
| 90,114 | USD | 85,000 | EUR | SSG | 11/30/2023 | 154 | ||||
| 7,407 | USD | 7,000 | EUR | GSC | 11/30/2023 | (1) | ||||
| 5,785,421 | USD | 5,476,000 | EUR | DEUT | 11/30/2023 | (10,102) | ||||
| 2,210,351 | USD | 2,055,000 | EUR | DEUT | 12/20/2023 | 32,964 | ||||
| 232,463 | USD | 216,000 | EUR | MSC | 12/20/2023 | 3,600 | ||||
| 766,735 | USD | 721,000 | EUR | JPM | 12/20/2023 | 2,795 | ||||
| 116,361 | USD | 108,000 | EUR | BOM | 12/20/2023 | 1,929 | ||||
| 22,232 | USD | 21,000 | EUR | SSG | 12/20/2023 | (18) | ||||
| 164,158 | USD | 155,000 | EUR | CIB | 12/20/2023 | (73) | ||||
| 103,215 | USD | 85,000 | GBP | ANZ | 11/30/2023 | 53 | ||||
| 6,115 | USD | 5,000 | GBP | JPM | 11/30/2023 | 46 | ||||
| 402,648 | USD | 333,000 | GBP | BCLY | 11/30/2023 | (1,504) | ||||
| 290,688 | USD | 233,000 | GBP | MSC | 12/20/2023 | 7,838 | ||||
| 82,703 | USD | 66,000 | GBP | BCLY | 12/20/2023 | 2,582 | ||||
| 42,769 | USD | 35,000 | GBP | CIB | 12/20/2023 | 281 | ||||
| 311,972 | USD | 45,000,000 | JPY | UBS | 12/20/2023 | 12,225 | ||||
| 24,995 | USD | 3,700,000 | JPY | SCB | 12/20/2023 | 349 | ||||
| Total foreign currency contracts | $ 56,670 | |||||||||
| 47 |
| Description | Total | Level 1 | Level 2 | Level 3(1) | ||||
| Assets | ||||||||
| Asset & Commercial Mortgage-Backed Securities | $ 4,560,206 | $ — | $ 4,560,206 | $ — | ||||
| Convertible Bonds | 1,450,237 | — | 1,450,237 | — | ||||
| Corporate Bonds | 22,866,131 | — | 22,866,131 | — | ||||
| Foreign Government Obligations | 3,834,666 | — | 3,834,666 | — | ||||
| Senior Floating Rate Interests | 6,176,420 | — | 6,176,420 | — | ||||
| U.S. Government Agencies | 7,254,319 | — | 7,254,319 | — | ||||
| U.S. Government Securities | 11,674,330 | — | 11,674,330 | — | ||||
| Common Stocks | ||||||||
| Automobiles & Components | 7,238 | 7,238 | — | — | ||||
| Health Care Equipment & Services | 4,297 | 4,297 | — | — | ||||
| Pharmaceuticals, Biotechnology & Life Sciences | 6,721 | 6,721 | — | — | ||||
| Preferred Stocks | 39,380 | 39,380 | — | — | ||||
| Short-Term Investments | 209,182 | 140,648 | 68,534 | — | ||||
| Foreign Currency Contracts(2) | 72,371 | — | 72,371 | — | ||||
| Futures Contracts(2) | 185,121 | 185,121 | — | — | ||||
| Swaps - Interest Rate(2) | 179,113 | — | 179,113 | — | ||||
| Total | $ 58,519,732 | $ 383,405 | $ 58,136,327 | $ — | ||||
| Liabilities | ||||||||
| Foreign Currency Contracts(2) | $ (15,701) | $ — | $ (15,701) | $ — | ||||
| Futures Contracts(2) | (217,392) | (217,392) | — | — | ||||
| Swaps - Credit Default(2) | (23,130) | — | (23,130) | — | ||||
| Total | $ (256,223) | $ (217,392) | $ (38,831) | $ — |
| (1) | For the period ended October 31, 2023, 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. |
| 48 |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8% | |||
| Asset-Backed - Automobile - 3.3% | |||
| $ 875,000 | American Credit Acceptance Receivables Trust 6.09%, 11/12/2027(1) | $ 871,024 | |
| 1,845,000 | ARI Fleet Lease Trust 5.41%, 02/17/2032(1) | 1,827,747 | |
| 1,065,000 | Avis Budget Rental Car Funding AESOP LLC 5.90%, 08/21/2028(1) | 1,050,822 | |
| 1,400,000 | Bridgecrest Lending Auto Securitization Trust 6.80%, 08/15/2029 | 1,400,814 | |
| 1,381,029 | Chesapeake Funding II LLC 5.65%, 05/15/2035(1) | 1,370,620 | |
| 1,865,993 | CPS Auto Receivables Trust 5.91%, 08/16/2027(1) | 1,860,674 | |
| DT Auto Owner Trust | |||
| 1,725,000 | 5.19%, 10/16/2028(1) | 1,691,031 | |
| 660,000 | 5.41%, 02/15/2029(1) | 648,588 | |
| 1,065,000 | 6.07%, 03/15/2028(1) | 1,058,080 | |
| Enterprise Fleet Financing LLC | |||
| 885,000 | 5.42%, 10/22/2029(1) | 871,654 | |
| 3,025,000 | 6.40%, 03/20/2030(1) | 3,022,334 | |
| Exeter Automobile Receivables Trust | |||
| 477,743 | 2.18%, 06/15/2026 | 475,106 | |
| 760,000 | 4.57%, 01/15/2027 | 752,899 | |
| 860,000 | 5.72%, 04/15/2027 | 853,753 | |
| 362,000 | 6.03%, 08/16/2027 | 359,418 | |
| 401,000 | 6.11%, 09/15/2027 | 398,442 | |
| Flagship Credit Auto Trust | |||
| 310,000 | 5.05%, 01/18/2028(1) | 303,008 | |
| 830,000 | 5.21%, 05/15/2028(1) | 810,421 | |
| 958,000 | 5.64%, 07/16/2029(1) | 944,900 | |
| 195,000 | GLS Auto Receivables Issuer Trust 4.92%, 01/15/2027(1) | 191,807 | |
| 2,705,000 | Hertz Vehicle Financing III LLC 5.94%, 02/25/2028(1) | 2,674,876 | |
| 1,830,000 | OneMain Direct Auto Receivables Trust 5.41%, 11/14/2029(1) | 1,785,324 | |
| 1,365,000 | Prestige Auto Receivables Trust 6.55%, 07/17/2028(1) | 1,360,573 | |
| Santander Drive Auto Receivables Trust | |||
| 1,540,000 | 4.42%, 11/15/2027 | 1,498,985 | |
| 350,000 | 4.72%, 06/15/2027 | 343,108 | |
| 650,000 | 4.98%, 02/15/2028 | 637,890 | |
| 965,000 | 5.24%, 05/15/2028 | 943,653 | |
| 1,310,000 | 5.61%, 07/17/2028 | 1,293,648 | |
| 1,400,000 | 5.77%, 12/15/2028 | 1,386,150 | |
| 1,430,000 | 5.95%, 01/17/2028 | 1,418,208 | |
| 625,000 | SFS Auto Receivables Securitization Trust 5.71%, 01/22/2030(1) | 607,987 | |
| 382,962 | Tricolor Auto Securitization Trust 6.48%, 08/17/2026(1) | 381,738 | |
| Westlake Automobile Receivables Trust | |||
| 610,000 | 1.65%, 02/17/2026(1) | 593,460 | |
| 1,180,000 | 4.31%, 09/15/2027(1) | 1,157,531 | |
| 355,000 | 5.41%, 01/18/2028(1) | 349,849 | |
| 2,070,000 | Wheels Fleet Lease Funding 1 LLC 6.46%, 08/18/2038(1) | 2,072,476 | |
| 595,000 | World Omni Auto Receivables Trust 5.03%, 05/15/2029 | 576,279 | |
| 39,844,877 | |||
| Asset-Backed - Credit Card - 0.1% | |||
| 1,500,000 | Mercury Financial Credit Card Master Trust 2.50%, 09/21/2026(1) | 1,442,403 | |
| Asset-Backed - Finance & Insurance - 0.6% | |||
| 2,400,000 | Bain Capital Credit CLO Ltd. 6.82%, 07/25/2034, 3 mo. USD Term SOFR + 1.44%(1)(2) | 2,382,427 | |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8% - (continued) | |||
| Asset-Backed - Finance & Insurance - 0.6% - (continued) | |||
| $ 160,252 | BHG Securitization Trust 0.90%, 10/17/2034(1) | $ 154,407 | |
| 1,440,000 | BlueMountain CLO XXIV Ltd. 6.78%, 04/20/2034, 3 mo. USD Term SOFR + 1.36%(1)(2) | 1,417,678 | |
| 863,481 | Carlyle Global Market Strategies CLO Ltd. 6.66%, 01/15/2031, 3 mo. USD Term SOFR + 1.26%(1)(2) | 859,560 | |
| 375,000 | Cirrus Funding Ltd. 4.80%, 01/25/2037(1) | 363,751 | |
| 2,065,000 | Regatta VI Funding Ltd. 6.84%, 04/20/2034, 3 mo. USD Term SOFR + 1.42%(1)(2) | 2,049,676 | |
| 7,227,499 | |||
| Asset-Backed - Student Loan - 0.2% | |||
| Navient Private Education Refi Loan Trust | |||
| 577,864 | 0.97%, 12/16/2069(1) | 482,534 | |
| 1,087,709 | 1.11%, 02/18/2070(1) | 897,603 | |
| 1,363,957 | 5.51%, 10/15/2071(1) | 1,329,029 | |
| 2,709,166 | |||
| Commercial Mortgage-Backed Securities - 3.9% | |||
| 965,000 | BAMLL Commercial Mortgage Securities Trust 3.11%, 11/05/2032(1) | 858,235 | |
| BBCMS Mortgage Trust | |||
| 530,000 | 3.66%, 04/15/2055(3) | 438,250 | |
| 520,000 | 4.60%, 06/15/2055(3) | 461,350 | |
| 715,000 | 5.44%, 12/15/2055(3) | 673,053 | |
| 235,000 | 5.71%, 12/15/2055(3) | 225,275 | |
| Benchmark Mortgage Trust | |||
| 18,828,292 | 0.46%, 07/15/2051(3)(4) | 284,833 | |
| 12,517,049 | 0.46%, 01/15/2055(1)(3)(4) | 251,223 | |
| 8,339,581 | 0.54%, 01/15/2051(3)(4) | 146,971 | |
| 12,484,979 | 0.57%, 07/15/2056(3)(4) | 495,809 | |
| 8,443,920 | 1.19%, 03/15/2062(3)(4) | 385,577 | |
| 3,638,907 | 1.51%, 01/15/2054(3)(4) | 288,207 | |
| 1,858,225 | 1.79%, 07/15/2053(3)(4) | 123,634 | |
| 2,200,000 | 3.88%, 02/15/2051(3) | 1,970,158 | |
| BPR Trust | |||
| 3,055,000 | 7.89%, 11/05/2028(1)(3) | 3,027,274 | |
| 1,180,000 | 8.57%, 08/15/2024, 1 mo. USD Term SOFR + 3.23%(1)(2) | 1,172,184 | |
| BX Trust | |||
| 580,000 | 7.40%, 05/15/2035, 1 mo. USD Term SOFR + 2.07%(1)(2) | 566,885 | |
| 2,608,588 | 7.79%, 08/15/2039, 1 mo. USD Term SOFR + 2.45%(1)(2) | 2,607,154 | |
| 785,000 | CAMB Commercial Mortgage Trust 7.93%, 12/15/2037, 1 mo. USD Term SOFR + 2.66%(1)(2) | 760,989 | |
| 1,527,000 | CD Mortgage Trust 3.63%, 02/10/2050 | 1,366,842 | |
| Citigroup Commercial Mortgage Trust | |||
| 1,300,000 | 3.62%, 07/10/2047 | 1,272,424 | |
| 766,000 | 4.06%, 11/15/2049(3) | 580,513 | |
| 60,960 | Citigroup Mortgage Loan Trust, Inc. 3.25%, 03/25/2061(1)(3) | 57,371 | |
| Commercial Mortgage Trust | |||
| 4,741,558 | 0.28%, 02/10/2047(3)(4) | 47 | |
| 389,000 | 2.82%, 01/10/2039(1) | 327,161 | |
| 700,000 | 3.18%, 02/10/2035(1) | 658,835 | |
| 1,470,000 | 3.61%, 08/10/2049(1)(3) | 1,341,375 | |
| 900,000 | 3.80%, 08/10/2047 | 884,413 | |
| 395,000 | 3.90%, 01/10/2039(1)(3) | 297,361 | |
| 970,625 | 3.96%, 03/10/2047 | 965,515 | |
| 230,425 | 4.24%, 02/10/2047(3) | 229,874 | |
| 12,016,257 | CSAIL Commercial Mortgage Trust 0.71%, 06/15/2057(3)(4) | 82,017 | |
| 49 |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8% - (continued) | |||
| Commercial Mortgage-Backed Securities - 3.9% - (continued) | |||
| DBJPM Mortgage Trust | |||
| $ 3,939,061 | 1.71%, 09/15/2053(3)(4) | $ 229,190 | |
| 2,660,000 | 2.89%, 08/10/2049 | 2,413,617 | |
| 2,406,269 | Extended Stay America Trust 6.53%, 07/15/2038, 1 mo. USD Term SOFR + 1.19%(1)(2) | 2,378,144 | |
| 2,570,000 | FS Commercial Mortgage Trust 7.54%, 11/10/2027(1)(3) | 2,580,641 | |
| GS Mortgage Securities Trust | |||
| 6,547,654 | 0.66%, 02/13/2053(3)(4) | 185,303 | |
| 2,000,000 | 3.05%, 05/10/2049 | 1,845,312 | |
| 2,440,000 | 3.43%, 08/10/2050 | 2,161,514 | |
| 890,000 | 3.63%, 11/10/2047 | 859,147 | |
| 48,419 | 4.07%, 01/10/2047 | 48,241 | |
| 415,000 | JP Morgan Chase Commercial Mortgage Securities Trust 2.81%, 01/16/2037(1) | 369,350 | |
| JPMBB Commercial Mortgage Securities Trust | |||
| 100,000 | 3.93%, 09/15/2047 | 97,470 | |
| 38,008 | 4.00%, 04/15/2047 | 37,685 | |
| 2,050,000 | JPMCC Commercial Mortgage Securities Trust 3.72%, 03/15/2050 | 1,868,259 | |
| Life Mortgage Trust | |||
| 2,540,978 | 6.15%, 03/15/2038, 1 mo. USD Term SOFR + 0.81%(1)(2) | 2,487,910 | |
| 358,784 | 6.85%, 03/15/2038, 1 mo. USD Term SOFR + 1.51%(1)(2) | 347,519 | |
| 1,410,000 | Morgan Stanley Bank of America Merrill Lynch Trust 3.53%, 12/15/2047 | 1,361,051 | |
| 3,889,546 | Morgan Stanley Capital I Trust 1.32%, 06/15/2050(3)(4) | 113,066 | |
| Wells Fargo NA | |||
| 11,305,348 | 0.42%, 02/15/2055(3)(4) | 296,954 | |
| 5,711,479 | 0.59%, 11/15/2062(3)(4) | 160,582 | |
| 13,970,058 | 0.64%, 11/15/2062(3)(4) | 432,502 | |
| 15,487,430 | 0.69%, 02/15/2061(3)(4) | 369,779 | |
| 5,784,268 | 0.71%, 11/15/2050(3)(4) | 131,514 | |
| 3,524,426 | 0.76%, 11/15/2054(3)(4) | 79,728 | |
| 10,561,425 | 0.88%, 01/15/2063(3)(4) | 429,882 | |
| 3,439,938 | 0.89%, 05/15/2062(3)(4) | 129,278 | |
| 9,015,210 | 0.99%, 02/15/2056(3)(4) | 564,129 | |
| 7,153,346 | 1.76%, 03/15/2063(3)(4) | 631,728 | |
| 1,790,000 | 3.44%, 09/15/2060 | 1,613,054 | |
| WFRBS Commercial Mortgage Trust | |||
| 1,025,000 | 3.61%, 11/15/2047 | 990,704 | |
| 100,000 | 4.00%, 05/15/2047 | 98,222 | |
| 84,298 | 4.05%, 03/15/2047 | 83,921 | |
| 48,196,205 | |||
| Other Asset-Backed Securities - 7.2% | |||
| 134,583 | AASET Trust 3.35%, 01/16/2040(1) | 117,118 | |
| Affirm Asset Securitization Trust | |||
| 22,849 | 1.90%, 01/15/2025(1) | 22,722 | |
| 1,330,000 | 4.30%, 05/17/2027(1) | 1,299,135 | |
| 895,000 | 6.61%, 01/18/2028(1) | 890,585 | |
| 2,035,000 | Aligned Data Centers Issuer LLC 6.00%, 08/17/2048(1) | 1,919,559 | |
| 445,724 | Amur Equipment Finance Receivables XI LLC 5.30%, 06/21/2028(1) | 441,368 | |
| 375,000 | Arbor Realty Commercial Real Estate Notes Ltd. 6.55%, 05/15/2036, 1 mo. USD Term SOFR + 1.21%(1)(2) | 370,561 | |
| 413,524 | Avant Loans Funding Trust 1.21%, 07/15/2030(1) | 409,004 | |
| 1,300,000 | Benefit Street Partners CLO XXXI Ltd. 7.73%, 04/25/2036, 3 mo. USD Term SOFR + 2.35%(1)(2) | 1,296,801 | |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8% - (continued) | |||
| Other Asset-Backed Securities - 7.2% - (continued) | |||
| $ 780,000 | CCG Receivables Trust 5.82%, 09/16/2030(1) | $ 777,418 | |
| CF Hippolyta Issuer LLC | |||
| 254,461 | 1.53%, 03/15/2061(1) | 222,561 | |
| 597,632 | 1.69%, 07/15/2060(1) | 542,000 | |
| 193,202 | 1.98%, 03/15/2061(1) | 165,441 | |
| 835,771 | 1.99%, 07/15/2060(1) | 696,515 | |
| 384,012 | 5.97%, 08/15/2062(1) | 372,326 | |
| CIFC Funding Ltd. | |||
| 237,489 | 6.53%, 04/19/2029, 3 mo. USD Term SOFR + 1.13%(1)(2) | 236,163 | |
| 952,186 | 6.66%, 04/18/2031, 3 mo. USD Term SOFR + 1.26%(1)(2) | 947,951 | |
| 400,000 | CNH Equipment Trust 4.77%, 10/15/2030 | 386,328 | |
| 760,000 | DLLAA LLC 5.64%, 02/22/2028(1) | 752,484 | |
| Domino's Pizza Master Issuer LLC | |||
| 1,282,125 | 2.66%, 04/25/2051(1) | 1,071,141 | |
| 668,938 | 3.67%, 10/25/2049(1) | 570,524 | |
| 47,500 | 4.12%, 07/25/2048(1) | 45,156 | |
| Elmwood CLO Ltd. | |||
| 1,215,000 | 7.64%, 04/16/2036, 3 mo. USD Term SOFR + 2.25%(1)(2) | 1,198,819 | |
| 2,070,000 | 7.80%, 10/17/2036, 3 mo. USD Term SOFR + 2.40%(1)(2) | 2,069,799 | |
| FirstKey Homes Trust | |||
| 2,035,137 | 1.38%, 09/17/2038(1) | 1,771,569 | |
| 671,204 | 4.15%, 05/17/2039(1) | 627,212 | |
| 2,485,941 | 4.25%, 07/17/2039(1) | 2,316,731 | |
| 1,845,450 | Galaxy XXIII CLO Ltd. 6.53%, 04/24/2029, 3 mo. USD Term SOFR + 1.13%(1)(2) | 1,836,683 | |
| 950,000 | GoldenTree Loan Management U.S. CLO Ltd. 7.74%, 10/20/2036, 3 mo. USD Term SOFR + 2.40%(1)(2) | 949,958 | |
| 1,160,000 | Golub Capital Partners CLO 68B Ltd. 8.20%, 07/25/2036, 3 mo. USD Term SOFR + 2.80%(1)(2) | 1,164,794 | |
| 780,000 | Invesco U.S. CLO Ltd. 7.71%, 04/21/2036, 3 mo. USD Term SOFR + 2.30%(1)(2) | 771,909 | |
| 900,000 | Kubota Credit Owner Trust 5.02%, 06/15/2027(1) | 883,993 | |
| 184,908 | Madison Park Funding XIII Ltd. 6.61%, 04/19/2030, 3 mo. USD Term SOFR + 1.21%(1)(2) | 184,129 | |
| 134,911 | Magnetite VII Ltd. 6.46%, 01/15/2028, 3 mo. USD Term SOFR + 1.06%(1)(2) | 134,384 | |
| 62,669 | Marlette Funding Trust 1.06%, 09/15/2031(1) | 62,292 | |
| 1,300,000 | MF1 Ltd. 7.08%, 02/19/2037, 1 mo. USD Term SOFR + 1.75%(1)(2) | 1,262,570 | |
| 2,490,000 | Nassau Ltd. 6.91%, 08/26/2034, 3 mo. USD Term SOFR + 1.51%(1)(2) | 2,454,142 | |
| 3,480,000 | New Economy Assets Phase 1 Sponsor LLC 1.91%, 10/20/2061(1) | 2,975,647 | |
| 121,813 | NRZ Excess Spread-Collateralized Notes 3.84%, 12/25/2025(1) | 113,776 | |
| 925,000 | OCP CLO Ltd. 6.67%, 04/18/2033, 3 mo. USD Term SOFR + 1.27%(1)(2) | 913,932 | |
| 1,695,000 | Octagon 61 Ltd. 7.77%, 04/20/2036, 3 mo. USD Term SOFR + 2.35%(1)(2) | 1,700,704 | |
| 550,000 | OZLM IX Ltd. 6.78%, 10/20/2031, 3 mo. USD Term SOFR + 1.36%(1)(2) | 547,606 | |
| 78,536 | OZLM VII Ltd. 6.67%, 07/17/2029, 3 mo. USD Term SOFR + 1.27%(1)(2) | 78,195 | |
| PRET LLC | |||
| 674,975 | 1.74%, 07/25/2051(1)(5) | 621,349 | |
| 720,784 | 1.87%, 07/25/2051(1)(5) | 656,473 | |
| 50 |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8% - (continued) | |||
| Other Asset-Backed Securities - 7.2% - (continued) | |||
| $ 787,022 | Pretium Mortgage Credit Partners I LLC 1.99%, 06/27/2060(1)(5) | $ 718,324 | |
| 1,314,094 | Pretium Mortgage Credit Partners LLC 1.99%, 02/25/2061(1)(5) | 1,222,803 | |
| Progress Residential Trust | |||
| 1,707,119 | 1.51%, 10/17/2038(1) | 1,487,982 | |
| 635,657 | 3.20%, 04/17/2039(1) | 573,755 | |
| 1,745,500 | 4.44%, 05/17/2041(1) | 1,589,959 | |
| 450,213 | 4.45%, 06/17/2039(1) | 423,693 | |
| 749,727 | 4.75%, 10/27/2039(1) | 706,743 | |
| 2,985,000 | Retained Vantage Data Centers Issuer LLC 5.00%, 09/15/2048(1) | 2,693,109 | |
| 2,010,000 | RR 1 LLC 6.81%, 07/15/2035, 3 mo. USD Term SOFR + 1.41%(1)(2) | 1,997,200 | |
| 2,950,000 | RR 23 Ltd. 8.00%, 10/15/2035, 3 mo. USD Term SOFR + 2.65%(1)(2) | 2,942,038 | |
| 1,185,000 | RR 26 Ltd. 7.64%, 04/15/2038, 3 mo. USD Term SOFR + 2.25%(1)(2) | 1,173,644 | |
| 169,343 | Sapphire Aviation Finance II Ltd. 3.23%, 03/15/2040(1) | 144,236 | |
| 218,280 | Sound Point CLO II Ltd. 6.71%, 01/26/2031, 3 mo. USD Term SOFR + 1.33%(1)(2) | 217,279 | |
| 2,270,000 | Sound Point CLO XXIX Ltd. 6.71%, 04/25/2034, 3 mo. USD Term SOFR + 1.33%(1)(2) | 2,236,956 | |
| 950,000 | Sounds Point CLO IV-R Ltd. 6.81%, 04/18/2031, 3 mo. USD Term SOFR + 1.41%(1)(2) | 943,871 | |
| Stack Infrastructure Issuer LLC | |||
| 310,000 | 1.89%, 08/25/2045(1) | 281,855 | |
| 1,920,000 | 5.90%, 07/25/2048(1) | 1,828,180 | |
| 490,000 | Summit Issuer LLC 2.29%, 12/20/2050(1) | 442,391 | |
| 2,590,000 | Symphony CLO XXV Ltd. 6.64%, 04/19/2034, 3 mo. USD Term SOFR + 1.24%(1)(2) | 2,551,458 | |
| 1,445,000 | Texas Debt Capital CLO Ltd. 7.72%, 04/20/2036, 3 mo. USD Term SOFR + 2.30%(1)(2) | 1,444,941 | |
| 2,365,000 | THL Credit Wind River CLO Ltd. 7.11%, 10/20/2033, 3 mo. USD Term SOFR + 1.69%(1)(2) | 2,360,253 | |
| 1,640,000 | Vantage Data Centers Issuer LLC 1.65%, 09/15/2045(1) | 1,485,362 | |
| VCAT LLC | |||
| 716,164 | 1.74%, 05/25/2051(1)(5) | 655,706 | |
| 3,020,407 | 1.87%, 08/25/2051(1)(5) | 2,821,861 | |
| 199,716 | 2.12%, 03/27/2051(1)(5) | 190,551 | |
| 2,270,000 | Venture 42 CLO Ltd. 6.79%, 04/15/2034, 3 mo. USD Term SOFR + 1.39%(1)(2) | 2,228,831 | |
| 915,000 | Venture 43 CLO Ltd. 6.90%, 04/15/2034, 3 mo. USD Term SOFR + 1.50%(1)(2) | 907,406 | |
| 1,360,142 | Vericrest Opportunity Loan Transferee 1.87%, 08/25/2051(1)(5) | 1,253,017 | |
| 470,022 | VOLT C LLC 1.99%, 05/25/2051(1)(5) | 425,621 | |
| 932,627 | VOLT XCIII LLC 1.89%, 02/27/2051(1)(5) | 866,366 | |
| 719,877 | VOLT XCIV LLC 2.24%, 02/27/2051(1)(5) | 677,995 | |
| 883,336 | VOLT XCIX LLC 2.12%, 04/25/2051(1)(5) | 795,620 | |
| 618,039 | VOLT XCV LLC 2.24%, 03/27/2051(1)(5) | 571,073 | |
| 715,506 | VOLT XCVII LLC 2.24%, 04/25/2051(1)(5) | 647,746 | |
| Voya CLO Ltd. | |||
| 221,040 | 6.56%, 01/18/2029, 3 mo. USD Term SOFR + 1.16%(1)(2) | 220,500 | |
| 705,000 | 6.85%, 10/18/2031, 3 mo. USD Term SOFR + 1.45%(1)(2) | 703,701 | |
| 1,827,663 | Wellfleet CLO X Ltd. 6.85%, 07/20/2032, 3 mo. USD Term SOFR + 1.43%(1)(2) | 1,807,161 | |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8% - (continued) | |||
| Other Asset-Backed Securities - 7.2% - (continued) | |||
| Wendy's Funding LLC | |||
| $ 2,111,400 | 2.37%, 06/15/2051(1) | $ 1,711,332 | |
| 3,249,210 | 2.78%, 06/15/2051(1) | 2,497,041 | |
| 1,071,623 | 3.88%, 03/15/2048(1) | 968,547 | |
| 241,325 | Wingstop Funding LLC 2.84%, 12/05/2050(1) | 207,765 | |
| 88,473,399 | |||
| Whole Loan Collateral CMO - 6.5% | |||
| 1,158,007 | 510 Asset-Backed Trust 2.24%, 06/25/2061(1)(5) | 1,062,776 | |
| 380,555 | Ajax Mortgage Loan Trust 2.12%, 01/25/2061(1)(5) | 348,119 | |
| Angel Oak Mortgage Trust | |||
| 500,722 | 0.91%, 01/25/2066(1)(3) | 398,067 | |
| 1,231,783 | 0.95%, 07/25/2066(1)(3) | 955,860 | |
| 329,986 | 0.99%, 04/25/2053(1)(3) | 296,128 | |
| 461,232 | 0.99%, 04/25/2066(1)(3) | 366,814 | |
| 914,928 | 1.07%, 05/25/2066(1)(3) | 742,527 | |
| 494,549 | 1.24%, 01/20/2065(1)(3) | 379,544 | |
| 896,028 | 1.82%, 11/25/2066(1)(3) | 725,109 | |
| 2,466,504 | 2.88%, 12/25/2066(1)(5) | 2,067,959 | |
| 40,684 | Bear Stearns ARM Trust 5.60%, 08/25/2035(3) | 36,157 | |
| 602,546 | BINOM Securitization Trust 2.03%, 06/25/2056(1)(3) | 495,339 | |
| BRAVO Residential Funding Trust | |||
| 313,513 | 0.94%, 02/25/2049(1)(3) | 268,422 | |
| 264,874 | 0.97%, 03/25/2060(1)(3) | 238,118 | |
| 1,552,763 | 1.62%, 03/01/2061(1)(5) | 1,377,748 | |
| 445,805 | Cascade MH Asset Trust 1.75%, 02/25/2046(1) | 355,904 | |
| 2,410,814 | CHNGE Mortgage Trust 3.76%, 03/25/2067(1)(3) | 2,184,869 | |
| COLT Mortgage Loan Trust | |||
| 203,367 | 0.80%, 07/27/2054(1) | 170,637 | |
| 808,452 | 0.91%, 06/25/2066(1)(3) | 615,418 | |
| 3,611,308 | 0.96%, 09/27/2066(1)(3) | 2,731,283 | |
| 941,943 | 1.34%, 08/25/2066(1)(3) | 718,345 | |
| 2,263,777 | 1.40%, 10/25/2066(1)(3) | 1,780,612 | |
| 2,390,778 | 2.28%, 12/27/2066(1)(3) | 1,992,578 | |
| 399,098 | 4.30%, 03/25/2067(1)(3) | 379,191 | |
| CSMC Trust | |||
| 211,967 | 0.81%, 05/25/2065(1)(3) | 174,678 | |
| 537,835 | 0.83%, 03/25/2056(1)(3) | 410,396 | |
| 726,167 | 0.94%, 05/25/2066(1)(3) | 549,991 | |
| 1,135,379 | 1.10%, 05/25/2066(1)(3) | 900,982 | |
| 941,269 | 1.18%, 02/25/2066(1)(3) | 775,301 | |
| 484,081 | 1.80%, 12/27/2060(1)(3) | 427,315 | |
| 928,099 | 1.84%, 10/25/2066(1)(3) | 772,060 | |
| 2,647,304 | 2.27%, 11/25/2066(1)(3) | 2,147,047 | |
| 325,318 | Deephaven Residential Mortgage Trust 0.90%, 04/25/2066(1)(3) | 261,268 | |
| Ellington Financial Mortgage Trust | |||
| 110,221 | 0.80%, 02/25/2066(1)(3) | 88,589 | |
| 327,550 | 0.93%, 06/25/2066(1)(3) | 247,639 | |
| 1,070,415 | 2.21%, 01/25/2067(1)(3) | 880,042 | |
| Federal National Mortgage Association Connecticut Avenue Securities | |||
| 130,997 | 7.59%, 11/25/2039, 30 day USD SOFR Average + 2.26%(1)(2) | 130,997 | |
| 79,388 | 7.64%, 08/25/2030, 30 day USD SOFR Average + 2.31%(2) | 80,379 | |
| 98,670 | 7.79%, 01/25/2031, 30 day USD SOFR Average + 2.46%(2) | 100,389 | |
| 306,455 | 7.87%, 07/25/2042, 30 day USD SOFR Average + 2.55%(1)(2) | 313,255 | |
| 51 |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8% - (continued) | |||
| Whole Loan Collateral CMO - 6.5% - (continued) | |||
| $ 1,585,000 | 8.02%, 07/25/2043, 30 day USD SOFR Average + 2.70%(1)(2) | $ 1,597,924 | |
| 792,000 | 8.42%, 06/25/2043, 30 day USD SOFR Average + 3.10%(1)(2) | 807,703 | |
| 329,842 | 8.99%, 07/25/2029, 30 day USD SOFR Average + 3.66%(2) | 341,347 | |
| 275,678 | 9.79%, 05/25/2029, 30 day USD SOFR Average + 4.46%(2) | 289,377 | |
| 417,187 | 9.84%, 01/25/2024, 30 day USD SOFR Average + 4.51%(2) | 420,298 | |
| 166 | 10.44%, 11/25/2024, 30 day USD SOFR Average + 5.11%(2) | 166 | |
| GCAT Trust | |||
| 582,200 | 0.87%, 01/25/2066(1)(3) | 452,620 | |
| 679,564 | 1.04%, 05/25/2066(1)(3) | 535,619 | |
| 888,286 | 1.09%, 05/25/2066(1)(3) | 699,181 | |
| 1,297,079 | 1.09%, 08/25/2066(1)(3) | 981,589 | |
| 671,939 | 1.92%, 08/25/2066(1)(3) | 562,620 | |
| Imperial Fund Mortgage Trust | |||
| 723,642 | 1.07%, 09/25/2056(1)(3) | 544,293 | |
| 2,598,043 | 3.64%, 03/25/2067(1)(5) | 2,262,382 | |
| Legacy Mortgage Asset Trust | |||
| 353,771 | 1.65%, 11/25/2060(1)(5) | 308,169 | |
| 469,434 | 1.75%, 04/25/2061(1)(5) | 418,716 | |
| 657,471 | 1.75%, 07/25/2061(1)(5) | 583,248 | |
| 778,915 | LSTAR Securities Investment Ltd. 8.23%, 02/01/2026, 1 mo. USD Term SOFR + 2.91%(1)(2) | 764,472 | |
| 521,564 | MetLife Securitization Trust 3.75%, 03/25/2057(1)(3) | 473,983 | |
| MFA Trust | |||
| 71,281 | 1.01%, 01/26/2065(1)(3) | 62,590 | |
| 535,574 | 1.03%, 11/25/2064(1)(3) | 425,523 | |
| 347,202 | 1.15%, 04/25/2065(1)(3) | 300,897 | |
| 10,375 | Mill City Mortgage Loan Trust 2.75%, 01/25/2061(1)(3) | 10,083 | |
| New Residential Mortgage Loan Trust | |||
| 432,522 | 0.94%, 07/25/2055(1)(3) | 362,426 | |
| 294,879 | 0.94%, 10/25/2058(1)(3) | 255,295 | |
| 2,798,236 | 1.16%, 11/27/2056(1)(3) | 2,218,208 | |
| 2,354,923 | 2.28%, 04/25/2061(1)(3) | 1,897,005 | |
| 444,430 | 3.50%, 12/25/2057(1)(3) | 411,480 | |
| 361,757 | 3.88%, 09/25/2057(1)(3) | 325,527 | |
| 280,975 | 4.00%, 04/25/2057(1)(3) | 257,217 | |
| 301,881 | 4.00%, 08/27/2057(1)(3) | 276,858 | |
| 130,971 | 6.19%, 01/25/2048, 1 mo. USD Term SOFR + 0.86%(1)(2) | 126,648 | |
| 1,437,758 | NMLT Trust 1.19%, 05/25/2056(1)(3) | 1,120,714 | |
| OBX Trust | |||
| 925,844 | 1.05%, 07/25/2061(1)(3) | 665,733 | |
| 892,382 | 1.07%, 02/25/2066(1)(3) | 708,346 | |
| 2,134,270 | 2.31%, 11/25/2061(1)(3) | 1,736,976 | |
| 387,417 | PMT Credit Risk Transfer Trust 8.34%, 02/27/2024, 1 mo. USD Term SOFR + 3.01%(1)(2) | 385,295 | |
| Preston Ridge Partners Mortgage LLC | |||
| 906,003 | 1.79%, 06/25/2026(1)(5) | 818,583 | |
| 808,861 | 1.79%, 07/25/2026(1)(5) | 753,315 | |
| 1,387,132 | 1.87%, 04/25/2026(1)(5) | 1,291,848 | |
| 307,248 | 2.12%, 03/25/2026(1)(3) | 294,100 | |
| 187,078 | 2.36%, 11/25/2025(1)(5) | 181,181 | |
| 1,570,150 | 2.36%, 10/25/2026(1)(5) | 1,463,330 | |
| 740,532 | 2.49%, 10/25/2026(1)(5) | 688,438 | |
| 336,900 | PRPM LLC 1.32%, 07/25/2051(1)(5) | 295,635 | |
| 278,555 | Residential Mortgage Loan Trust 0.86%, 01/25/2065(1)(3) | 251,214 | |
| Shares or Principal Amount | Market Value† | ||
| ASSET & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.8% - (continued) | |||
| Whole Loan Collateral CMO - 6.5% - (continued) | |||
| Seasoned Credit Risk Transfer Trust | |||
| $ 632,101 | 2.50%, 08/25/2059 | $ 487,099 | |
| 297,447 | 3.50%, 08/25/2057(3) | 273,736 | |
| 494,742 | 3.50%, 11/25/2057 | 435,302 | |
| 1,316,561 | 3.50%, 07/25/2058 | 1,139,631 | |
| 513,580 | 3.50%, 08/25/2058 | 453,354 | |
| 1,798,259 | 3.50%, 10/25/2058 | 1,518,726 | |
| 1,265,476 | SG Residential Mortgage Trust 1.16%, 07/25/2061(1)(3) | 971,647 | |
| 661,363 | STAR Trust 1.22%, 05/25/2065(1)(3) | 569,619 | |
| Starwood Mortgage Residential Trust | |||
| 239,636 | 0.94%, 05/25/2065(1)(3) | 210,446 | |
| 1,075,624 | 1.13%, 06/25/2056(1)(3) | 830,433 | |
| 1,447,441 | 1.92%, 11/25/2066(1)(3) | 1,117,391 | |
| 822,264 | Toorak Mortgage Corp. Ltd. 2.24%, 06/25/2024(1)(5) | 800,228 | |
| Towd Point Mortgage Trust | |||
| 727,813 | 1.75%, 10/25/2060(1) | 622,033 | |
| 153,387 | 2.16%, 01/25/2052(1)(3) | 151,706 | |
| 799,344 | 2.90%, 10/25/2059(1)(3) | 728,716 | |
| 2,056,421 | 2.92%, 11/30/2060(1)(3) | 1,668,457 | |
| 585,308 | 3.25%, 03/25/2058(1)(3) | 558,517 | |
| 69,974 | 3.25%, 07/25/2058(1)(3) | 67,140 | |
| 42,380 | 3.75%, 05/25/2058(1)(3) | 39,946 | |
| 307,432 | Triangle Re Ltd. 7.22%, 02/25/2034, 30 day USD SOFR Average + 1.90%(1)(2) | 307,773 | |
| 549,762 | TRK Trust 1.15%, 07/25/2056(1)(3) | 456,531 | |
| Verus Securitization Trust | |||
| 149,731 | 0.82%, 10/25/2063(1)(3) | 132,790 | |
| 415,457 | 0.92%, 02/25/2064(1)(3) | 351,413 | |
| 2,081,270 | 0.94%, 07/25/2066(1)(3) | 1,656,483 | |
| 2,310,923 | 1.01%, 09/25/2066(1)(3) | 1,834,163 | |
| 382,237 | 1.03%, 02/25/2066(1)(3) | 313,359 | |
| 1,006,120 | 1.82%, 11/25/2066(1)(3) | 813,322 | |
| 1,967,436 | 1.83%, 10/25/2066(1)(3) | 1,616,794 | |
| 1,613,382 | 2.72%, 01/25/2067(1)(5) | 1,363,894 | |
| 80,066,673 | |||
| Total Asset & Commercial Mortgage-Backed Securities (cost $291,074,523) | $ 267,960,222 | ||
| CORPORATE BONDS - 27.4% | |||
| Advertising - 0.2% | |||
| Lamar Media Corp. | |||
| 2,735,000 | 3.63%, 01/15/2031 | $ 2,210,192 | |
| 80,000 | 4.88%, 01/15/2029 | 73,349 | |
| 2,283,541 | |||
| Aerospace/Defense - 0.2% | |||
| Boeing Co. | |||
| 577,000 | 5.04%, 05/01/2027 | 559,023 | |
| 801,000 | 5.15%, 05/01/2030 | 751,762 | |
| 105,000 | L3Harris Technologies, Inc. 2.90%, 12/15/2029 | 88,384 | |
| 430,000 | Northrop Grumman Corp. 5.15%, 05/01/2040 | 378,586 | |
| 370,000 | RTX Corp. 5.15%, 02/27/2033 | 341,840 | |
| 2,119,595 | |||
| Agriculture - 0.4% | |||
| BAT Capital Corp. | |||
| 26,700 | 3.56%, 08/15/2027 | 24,223 | |
| 375,000 | 6.34%, 08/02/2030 | 363,961 | |
| Philip Morris International, Inc. | |||
| 1,275,000 | 4.88%, 02/15/2028 | 1,225,790 | |
| 131,000 | 4.88%, 11/15/2043 | 104,899 | |
| 725,000 | 5.13%, 11/17/2027 | 707,065 | |
| 52 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Agriculture - 0.4% - (continued) | |||
| $ 1,715,000 | 5.13%, 02/15/2030 | $ 1,617,961 | |
| 670,000 | 5.38%, 02/15/2033 | 620,294 | |
| 885,000 | 5.63%, 09/07/2033 | 832,715 | |
| 5,496,908 | |||
| Apparel - 0.2% | |||
| 260,000 | Hanesbrands, Inc. 4.88%, 05/15/2026(1) | 238,879 | |
| 1,904,000 | William Carter Co. 5.63%, 03/15/2027(1) | 1,804,082 | |
| 2,042,961 | |||
| Beverages - 0.0% | |||
| Bacardi Ltd./Bacardi-Martini BV | |||
| 100,000 | 5.25%, 01/15/2029(1) | 95,299 | |
| 535,000 | 5.40%, 06/15/2033(1) | 489,709 | |
| 585,008 | |||
| Biotechnology - 0.3% | |||
| Amgen, Inc. | |||
| 250,000 | 5.25%, 03/02/2030 | 240,343 | |
| 1,893,000 | 5.25%, 03/02/2033 | 1,768,572 | |
| Royalty Pharma PLC | |||
| 1,654,000 | 2.15%, 09/02/2031 | 1,216,902 | |
| 1,006,000 | 2.20%, 09/02/2030 | 769,282 | |
| 3,995,099 | |||
| Chemicals - 0.2% | |||
| Celanese U.S. Holdings LLC | |||
| 950,000 | 6.17%, 07/15/2027 | 927,755 | |
| 675,000 | 6.33%, 07/15/2029 | 651,014 | |
| 660,000 | 6.55%, 11/15/2030 | 635,735 | |
| 2,214,504 | |||
| Commercial Banks - 6.8% | |||
| 800,000 | ABN AMRO Bank NV 6.34%, 09/18/2027, (6.34% fixed rate until 09/18/2026; 1 yr. USD CMT + 1.65% thereafter)(1)(6) | 791,138 | |
| 1,570,000 | ANZ New Zealand International Ltd. 5.36%, 08/14/2028(1) | 1,526,708 | |
| EUR 500,000 | Banca Comerciala Romana SA 7.63%, 05/19/2027, (7.63% fixed rate until 05/19/2026; 3 mo. EURIBOR + 4.54% thereafter)(6)(7) | 543,772 | |
| 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)(6)(7) | 1,181,250 | |
| Bank of America Corp. | |||
| $ 1,595,000 | 1.90%, 07/23/2031, (1.90% fixed rate until 07/23/2030; 6 mo. USD SOFR + 1.53% thereafter)(6) | 1,188,823 | |
| 615,000 | 1.92%, 10/24/2031, (1.92% fixed rate until 10/24/2030; 6 mo. USD SOFR + 1.37% thereafter)(6) | 455,348 | |
| 2,147,000 | 2.50%, 02/13/2031, (2.50% fixed rate until 02/13/2030; 3 mo. USD Term SOFR + 1.25% thereafter)(6) | 1,695,582 | |
| 579,000 | 2.57%, 10/20/2032, (2.57% fixed rate until 10/20/2031; 6 mo. USD SOFR + 1.21% thereafter)(6) | 434,489 | |
| 870,000 | 2.59%, 04/29/2031, (2.59% fixed rate until 04/29/2030; 6 mo. USD SOFR + 2.15% thereafter)(6) | 686,946 | |
| 3,795,000 | 2.69%, 04/22/2032, (2.69% fixed rate until 04/22/2031; 6 mo. USD SOFR + 1.32% thereafter)(6) | 2,915,523 | |
| 265,000 | 3.42%, 12/20/2028, (3.42% fixed rate until 12/20/2027; 3 mo. USD Term SOFR + 1.30% thereafter)(6) | 236,040 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Commercial Banks - 6.8% - (continued) | |||
| $ 841,000 | 4.95%, 07/22/2028, (4.95% fixed rate until 07/22/2027; 6 mo. USD SOFR + 2.04% thereafter)(6) | $ 798,739 | |
| 1,835,000 | 5.20%, 04/25/2029, (5.20% fixed rate until 04/25/2028; 6 mo. USD SOFR + 1.63% thereafter)(6) | 1,745,485 | |
| 2,435,000 | 5.93%, 09/15/2027, (5.93% fixed rate until 09/15/2026; 6 mo. USD SOFR + 1.34% thereafter)(6) | 2,411,060 | |
| 1,975,000 | Bank of Ireland Group PLC 6.25%, 09/16/2026, (6.25% fixed rate until 09/16/2025; 1 yr. USD CMT + 2.65% thereafter)(1)(6) | 1,956,477 | |
| 1,525,000 | Bank of New York Mellon Corp. 6.32%, 10/25/2029, (6.32% fixed rate until 10/25/2028; 6 mo. USD SOFR + 1.60% thereafter)(6) | 1,537,841 | |
| 1,045,000 | Barclays PLC 7.12%, 06/27/2034, (7.12% fixed rate until 06/27/2033; 6 mo. USD SOFR + 3.57% thereafter)(6) | 972,394 | |
| BNP Paribas SA | |||
| 795,000 | 5.13%, 01/13/2029, (5.13% fixed rate until 01/13/2028; 1 yr. USD CMT + 1.45% thereafter)(1)(6) | 760,536 | |
| 495,000 | 5.34%, 06/12/2029, (5.34% fixed rate until 06/12/2028; 1 yr. USD CMT + 1.50% thereafter)(1)(6) | 475,483 | |
| BPCE SA | |||
| 1,945,000 | 6.71%, 10/19/2029, (6.71% fixed rate until 10/19/2028; 6 mo. USD SOFR + 2.27% thereafter)(1)(6) | 1,918,582 | |
| 2,230,000 | 7.00%, 10/19/2034, (7.00% fixed rate until 10/19/2033; 6 mo. USD SOFR + 2.59% thereafter)(1)(6) | 2,170,752 | |
| 535,000 | Credit Agricole SA 6.32%, 10/03/2029, (6.32% fixed rate until 10/03/2028; 6 mo. USD SOFR + 1.86% thereafter)(1)(6) | 526,056 | |
| Danske Bank AS | |||
| 380,000 | 1.62%, 09/11/2026, (1.62% fixed rate until 09/11/2025; 1 yr. USD CMT + 1.35% thereafter)(1)(6) | 346,142 | |
| 530,000 | 5.38%, 01/12/2024(1) | 528,464 | |
| Deutsche Bank AG | |||
| 520,000 | 2.13%, 11/24/2026, (2.13% fixed rate until 11/24/2025; 6 mo. USD SOFR + 1.87% thereafter)(6) | 469,486 | |
| 380,000 | 2.31%, 11/16/2027, (2.31% fixed rate until 11/16/2026; 6 mo. USD SOFR + 1.22% thereafter)(6) | 328,622 | |
| 920,000 | 7.08%, 02/10/2034, (7.08% fixed rate until 11/10/2032; 6 mo. USD SOFR + 3.65% thereafter)(6) | 812,037 | |
| Goldman Sachs Group, Inc. | |||
| 421,000 | 1.99%, 01/27/2032, (1.99% fixed rate until 01/27/2031; 6 mo. USD SOFR + 1.09% thereafter)(6) | 309,535 | |
| 1,650,000 | 2.38%, 07/21/2032, (2.38% fixed rate until 07/21/2031; 6 mo. USD SOFR + 1.25% thereafter)(6) | 1,227,193 | |
| 1,855,000 | 2.62%, 04/22/2032, (2.62% fixed rate until 04/22/2031; 6 mo. USD SOFR + 1.28% thereafter)(6) | 1,416,957 | |
| 481,000 | 3.81%, 04/23/2029, (3.81% fixed rate until 04/23/2028; 3 mo. USD Term SOFR + 1.42% thereafter)(6) | 432,293 | |
| 53 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Commercial Banks - 6.8% - (continued) | |||
| $ 1,620,000 | 4.22%, 05/01/2029, (4.22% fixed rate until 05/01/2028; 3 mo. USD Term SOFR + 1.56% thereafter)(6) | $ 1,479,490 | |
| HSBC Holdings PLC | |||
| 1,210,000 | 2.21%, 08/17/2029, (2.21% fixed rate until 08/17/2028; 6 mo. USD SOFR + 1.29% thereafter)(6) | 985,177 | |
| 380,000 | 4.58%, 06/19/2029, (4.58% fixed rate until 06/19/2028; 3 mo. USD Term SOFR + 1.80% thereafter)(6) | 346,428 | |
| 3,130,000 | 5.40%, 08/11/2033, (5.40% fixed rate until 08/11/2032; 6 mo. USD SOFR + 2.87% thereafter)(6) | 2,818,595 | |
| 1,445,000 | 5.89%, 08/14/2027, (5.89% fixed rate until 08/14/2026; 6 mo. USD SOFR + 1.57% thereafter)(6) | 1,419,484 | |
| 385,000 | 6.16%, 03/09/2029, (6.16% fixed rate until 03/09/2028; 6 mo. USD SOFR + 1.97% thereafter)(6) | 377,301 | |
| 1,725,000 | 6.55%, 06/20/2034, (6.55% fixed rate until 06/20/2033; 6 mo. USD SOFR + 2.98% thereafter)(6) | 1,606,869 | |
| 228,000 | 6.80%, 06/01/2038 | 217,604 | |
| 565,000 | Huntington Bancshares, Inc. 6.21%, 08/21/2029, (6.21% fixed rate until 08/21/2028; 6 mo. USD SOFR + 2.02% thereafter)(6) | 543,435 | |
| 270,000 | Huntington National Bank 5.65%, 01/10/2030 | 247,629 | |
| 960,000 | Intesa Sanpaolo SpA 6.63%, 06/20/2033(1) | 881,780 | |
| JP Morgan Chase & Co. | |||
| 888,000 | 2.55%, 11/08/2032, (2.55% fixed rate until 11/08/2031; 6 mo. USD SOFR + 1.18% thereafter)(6) | 674,205 | |
| 436,000 | 2.96%, 05/13/2031, (2.96% fixed rate until 05/13/2030; 3 mo. USD Term SOFR + 2.52% thereafter)(6) | 352,188 | |
| 1,101,000 | 3.70%, 05/06/2030, (3.70% fixed rate until 05/06/2029; 3 mo. USD Term SOFR + 1.42% thereafter)(6) | 967,553 | |
| 315,000 | 3.96%, 01/29/2027, (3.96% fixed rate until 01/29/2026; 3 mo. USD Term SOFR + 1.51% thereafter)(6) | 300,240 | |
| 978,000 | 4.01%, 04/23/2029, (4.01% fixed rate until 04/23/2028; 3 mo. USD Term SOFR + 1.38% thereafter)(6) | 890,985 | |
| 794,000 | 4.85%, 07/25/2028, (4.85% fixed rate until 07/25/2027; 6 mo. USD SOFR + 1.99% thereafter)(6) | 757,452 | |
| 985,000 | 5.30%, 07/24/2029, (5.30% fixed rate until 07/24/2028; 6 mo. USD SOFR + 1.45% thereafter)(6) | 948,784 | |
| 875,000 | 6.07%, 10/22/2027, (6.07% fixed rate until 10/22/2026; 6 mo. USD SOFR + 1.33% thereafter)(6) | 873,724 | |
| 515,000 | 6.09%, 10/23/2029, (6.09% fixed rate until 10/23/2028; 6 mo. USD SOFR + 1.57% thereafter)(6) | 512,165 | |
| M&T Bank Corp. | |||
| 1,615,000 | 5.05%, 01/27/2034, (5.05% fixed rate until 01/27/2033; 6 mo. USD SOFR + 1.85% thereafter)(6) | 1,350,150 | |
| 940,000 | 7.41%, 10/30/2029, (7.41% fixed rate until 10/30/2028; 6 mo. USD SOFR + 2.80% thereafter)(6) | 943,120 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Commercial Banks - 6.8% - (continued) | |||
| $ 1,150,000 | Manufacturers & Traders Trust Co. 4.70%, 01/27/2028 | $ 1,042,596 | |
| 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)(6)(7) | 946,670 | |
| Morgan Stanley | |||
| $ 125,000 | 1.59%, 05/04/2027, (1.59% fixed rate until 05/04/2026; 6 mo. USD SOFR + 0.88% thereafter)(6) | 111,039 | |
| 1,749,000 | 1.79%, 02/13/2032, (1.79% fixed rate until 02/13/2031; 6 mo. USD SOFR + 1.03% thereafter)(6) | 1,267,640 | |
| 466,000 | 2.24%, 07/21/2032, (2.24% fixed rate until 07/21/2031; 6 mo. USD SOFR + 1.18% thereafter)(6) | 344,429 | |
| 572,000 | 2.48%, 01/21/2028, (2.48% fixed rate until 01/21/2027; 6 mo. USD SOFR + 1.00% thereafter)(6) | 507,119 | |
| 1,179,000 | 2.70%, 01/22/2031, (2.70% fixed rate until 01/22/2030; 6 mo. USD SOFR + 1.14% thereafter)(6) | 948,637 | |
| 674,000 | 3.62%, 04/01/2031, (3.62% fixed rate until 04/01/2030; 6 mo. USD SOFR + 3.12% thereafter)(6) | 571,605 | |
| 820,000 | 4.43%, 01/23/2030, (4.43% fixed rate until 01/23/2029; 3 mo. USD Term SOFR + 1.89% thereafter)(6) | 747,019 | |
| 1,360,000 | 5.16%, 04/20/2029, (5.16% fixed rate until 04/20/2028; 6 mo. USD SOFR + 1.59% thereafter)(6) | 1,294,555 | |
| 395,000 | 5.45%, 07/20/2029, (5.45% fixed rate until 07/20/2028; 2 mo. USD SOFR + 1.63% thereafter)(6) | 380,147 | |
| 3,265,000 | 6.41%, 11/01/2029, (6.41% fixed rate until 11/01/2028; 6 mo. USD SOFR + 1.83% thereafter)(6) | 3,261,778 | |
| OTP Bank Nyrt | |||
| EUR 1,000,000 | 7.35%, 03/04/2026, (7.35% fixed rate until 03/04/2025; 3 mo. EURIBOR + 4.52% thereafter)(6)(7) | 1,074,652 | |
| $ 690,000 | 7.50%, 05/25/2027, (7.50% fixed rate until 05/25/2026; 1 yr. USD CMT + 3.71% thereafter)(6)(7) | 691,587 | |
| PNC Financial Services Group, Inc. | |||
| 425,000 | 5.07%, 01/24/2034, (5.07% fixed rate until 01/24/2033; 6 mo. USD SOFR + 1.93% thereafter)(6) | 374,762 | |
| 350,000 | 6.88%, 10/20/2034, (6.88% fixed rate until 10/20/2033; 6 mo. USD SOFR + 2.28% thereafter)(6) | 350,329 | |
| 2,505,000 | Societe Generale SA 6.22%, 06/15/2033, (6.22% fixed rate until 06/15/2032; 1 yr. USD CMT + 3.20% thereafter)(1)(6) | 2,210,621 | |
| Standard Chartered PLC | |||
| 580,000 | 6.30%, 07/06/2034, (6.30% fixed rate until 07/06/2033; 1 yr. USD CMT + 2.58% thereafter)(1)(6) | 540,867 | |
| 470,000 | 7.77%, 11/16/2028, (7.77% fixed rate until 11/16/2027; 1 yr. USD CMT + 3.45% thereafter)(1)(6) | 485,336 | |
| UBS Group AG | |||
| 700,000 | 2.10%, 02/11/2032, (2.10% fixed rate until 02/11/2031; 1 yr. USD CMT + 1.00% thereafter)(1)(6) | 506,567 | |
| 54 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Commercial Banks - 6.8% - (continued) | |||
| $ 350,000 | 3.09%, 05/14/2032, (3.09% fixed rate until 05/14/2031; 6 mo. USD SOFR + 1.73% thereafter)(1)(6) | $ 269,848 | |
| 295,000 | 4.28%, 01/09/2028(1) | 269,598 | |
| 810,000 | 4.75%, 05/12/2028, (4.75% fixed rate until 05/12/2027; 1 yr. USD CMT + 1.75% thereafter)(1)(6) | 760,686 | |
| 255,000 | 5.71%, 01/12/2027, (5.71% fixed rate until 01/12/2026; 1 yr. USD CMT + 1.55% thereafter)(1)(6) | 250,819 | |
| 1,365,000 | 6.25%, 09/22/2029, (6.25% fixed rate until 09/22/2028; 1 yr. USD CMT + 1.80% thereafter)(1)(6) | 1,338,165 | |
| 2,125,000 | 6.54%, 08/12/2033, (6.54% fixed rate until 08/12/2032; 6 mo. USD SOFR + 3.92% thereafter)(1)(6) | 2,045,502 | |
| Wells Fargo & Co. | |||
| 1,540,000 | 2.57%, 02/11/2031, (2.57% fixed rate until 02/11/2030; 3 mo. USD Term SOFR + 1.26% thereafter)(6) | 1,221,719 | |
| 911,000 | 2.88%, 10/30/2030, (2.88% fixed rate until 10/30/2029; 3 mo. USD Term SOFR + 1.43% thereafter)(6) | 745,473 | |
| 254,000 | 3.00%, 10/23/2026 | 232,649 | |
| 1,144,000 | 3.35%, 03/02/2033, (3.35% fixed rate until 03/02/2032; 6 mo. USD SOFR + 1.50% thereafter)(6) | 903,131 | |
| 1,781,000 | 4.90%, 07/25/2033, (4.90% fixed rate until 07/25/2032; 6 mo. USD SOFR + 2.10% thereafter)(6) | 1,568,977 | |
| 127,000 | 5.01%, 04/04/2051, (5.01% fixed rate until 04/04/2050; 3 mo. USD Term SOFR + 4.50% thereafter)(6) | 101,389 | |
| 429,000 | 5.39%, 04/24/2034, (5.39% fixed rate until 04/24/2033; 6 mo. USD SOFR + 2.02% thereafter)(6) | 389,249 | |
| 3,730,000 | 5.57%, 07/25/2029, (5.57% fixed rate until 07/25/2028; 2 mo. USD SOFR + 1.74% thereafter)(6) | 3,594,630 | |
| 455,000 | 6.49%, 10/23/2034, (6.49% fixed rate until 10/23/2033; 6 mo. USD SOFR + 2.06% thereafter)(6) | 447,890 | |
| 84,091,791 | |||
| Commercial Services - 0.8% | |||
| Ashtead Capital, Inc. | |||
| 425,000 | 4.00%, 05/01/2028(1) | 380,092 | |
| 1,400,000 | 4.38%, 08/15/2027(1) | 1,296,839 | |
| 600,000 | 5.50%, 08/11/2032(1) | 538,010 | |
| 205,000 | 5.55%, 05/30/2033(1) | 184,111 | |
| 200,000 | 5.95%, 10/15/2033(1) | 182,965 | |
| 1,971,000 | Gartner, Inc. 4.50%, 07/01/2028(1) | 1,774,047 | |
| Howard University | |||
| 100,000 | 2.39%, 10/01/2027 | 87,191 | |
| 100,000 | 2.70%, 10/01/2029 | 83,689 | |
| 325,000 | 2.80%, 10/01/2030 | 266,650 | |
| 105,000 | 2.90%, 10/01/2031 | 84,225 | |
| 265,000 | 3.48%, 10/01/2041 | 175,460 | |
| Service Corp. International | |||
| 1,955,000 | 3.38%, 08/15/2030 | 1,566,121 | |
| 100,000 | 4.63%, 12/15/2027 | 92,446 | |
| 2,781,000 | 5.13%, 06/01/2029 | 2,544,615 | |
| United Rentals North America, Inc. | |||
| 270,000 | 3.75%, 01/15/2032 | 214,692 | |
| 380,000 | 4.88%, 01/15/2028 | 351,464 | |
| 9,822,617 | |||
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Construction Materials - 0.4% | |||
| $ 2,890,000 | Builders FirstSource, Inc. 5.00%, 03/01/2030(1) | $ 2,511,959 | |
| Standard Industries, Inc. | |||
| 549,000 | 3.38%, 01/15/2031(1) | 415,532 | |
| 2,610,000 | 4.38%, 07/15/2030(1) | 2,133,124 | |
| 5,060,615 | |||
| Distribution/Wholesale - 0.0% | |||
| 440,000 | LKQ Corp. 5.75%, 06/15/2028 | 426,502 | |
| Diversified Financial Services - 0.7% | |||
| 1,475,000 | American Express Co. 6.34%, 10/30/2026, (6.34% fixed rate until 10/30/2025; 6 mo. USD SOFR + 1.33% thereafter)(6) | 1,479,263 | |
| Capital One Financial Corp. | |||
| 1,349,000 | 3.27%, 03/01/2030, (3.27% fixed rate until 03/01/2029; 6 mo. USD SOFR + 1.79% thereafter)(6) | 1,106,886 | |
| 275,000 | 5.25%, 07/26/2030, (5.25% fixed rate until 07/26/2029; 6 mo. USD SOFR + 2.60% thereafter)(6) | 247,231 | |
| 19,000 | 5.27%, 05/10/2033, (5.27% fixed rate until 05/10/2032; 6 mo. USD SOFR + 2.37% thereafter)(6) | 16,264 | |
| 380,000 | 5.47%, 02/01/2029, (5.47% fixed rate until 02/01/2028; 6 mo. USD SOFR + 2.08% thereafter)(6) | 353,704 | |
| 834,000 | 5.82%, 02/01/2034, (5.82% fixed rate until 02/01/2033; 6 mo. USD SOFR + 2.60% thereafter)(6) | 734,623 | |
| 1,225,000 | 6.31%, 06/08/2029, (6.31% fixed rate until 06/08/2028; 6 mo. USD SOFR + 2.64% thereafter)(6) | 1,173,459 | |
| 755,000 | 6.38%, 06/08/2034, (6.38% fixed rate until 06/08/2033; 6 mo. USD SOFR + 2.86% thereafter)(6) | 690,666 | |
| 485,000 | 7.62%, 10/30/2031, (7.62% fixed rate until 10/30/2030; 6 mo. USD SOFR + 3.07% thereafter)(6) | 485,355 | |
| 510,000 | Discover Financial Services 7.96%, 11/02/2034, (7.96% fixed rate until 11/02/2033; 6 mo. USD SOFR + 3.37% thereafter)(6) | 508,177 | |
| 240,000 | Intercontinental Exchange, Inc. 4.35%, 06/15/2029 | 221,556 | |
| Nasdaq, Inc. | |||
| 205,000 | 5.35%, 06/28/2028 | 199,726 | |
| 694,000 | 5.55%, 02/15/2034 | 644,347 | |
| 137,000 | OneMain Finance Corp. 6.13%, 03/15/2024 | 136,645 | |
| Synchrony Financial | |||
| 475,000 | 2.88%, 10/28/2031 | 323,063 | |
| 600,000 | 7.25%, 02/02/2033 | 509,763 | |
| 8,830,728 | |||
| Electric - 3.7% | |||
| Alabama Power Co. | |||
| 295,000 | 3.45%, 10/01/2049 | 186,774 | |
| 728,000 | 4.15%, 08/15/2044 | 533,270 | |
| Arizona Public Service Co. | |||
| 325,000 | 5.55%, 08/01/2033 | 305,993 | |
| 170,000 | 6.35%, 12/15/2032 | 169,860 | |
| Berkshire Hathaway Energy Co. | |||
| 275,000 | 1.65%, 05/15/2031 | 201,005 | |
| 215,000 | 4.50%, 02/01/2045 | 165,969 | |
| 430,000 | 4.60%, 05/01/2053 | 320,695 | |
| Cleco Corporate Holdings LLC | |||
| 459,000 | 3.38%, 09/15/2029 | 379,409 | |
| 55 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Electric - 3.7% - (continued) | |||
| $ 147,000 | 4.97%, 05/01/2046(5) | $ 106,950 | |
| Consolidated Edison Co. of New York, Inc. | |||
| 245,000 | 3.20%, 12/01/2051 | 144,237 | |
| 112,000 | 3.95%, 04/01/2050 | 78,628 | |
| 160,000 | 4.00%, 11/15/2057 | 108,025 | |
| 125,000 | 4.45%, 03/15/2044 | 95,662 | |
| Dominion Energy, Inc. | |||
| 1,050,000 | 3.38%, 04/01/2030 | 884,432 | |
| 2,365,000 | 5.38%, 11/15/2032 | 2,194,621 | |
| 400,000 | Duke Energy Carolinas LLC 4.25%, 12/15/2041 | 306,110 | |
| Duke Energy Corp. | |||
| 2,619,000 | 2.55%, 06/15/2031 | 2,022,643 | |
| 227,700 | 3.75%, 09/01/2046 | 149,161 | |
| 980,000 | 4.50%, 08/15/2032 | 858,006 | |
| 210,000 | 5.00%, 08/15/2052 | 164,358 | |
| Duke Energy Indiana LLC | |||
| 220,000 | 2.75%, 04/01/2050 | 119,066 | |
| 921,000 | 3.25%, 10/01/2049 | 554,340 | |
| Duke Energy Progress LLC | |||
| 107,000 | 3.70%, 10/15/2046 | 71,091 | |
| 225,000 | 4.00%, 04/01/2052 | 155,180 | |
| Edison International | |||
| 230,000 | 4.13%, 03/15/2028 | 209,320 | |
| 985,000 | 5.25%, 11/15/2028 | 935,879 | |
| 1,383,000 | 6.95%, 11/15/2029 | 1,406,855 | |
| 515,000 | Emera, Inc. 6.75%, 06/15/2076 | 484,280 | |
| Enel Finance International NV | |||
| 450,000 | 1.38%, 07/12/2026(1) | 396,848 | |
| 780,000 | 5.00%, 06/15/2032(1) | 686,840 | |
| Evergy Metro, Inc. | |||
| 182,000 | 2.25%, 06/01/2030 | 144,700 | |
| 121,000 | 4.13%, 04/01/2049 | 84,187 | |
| Evergy, Inc. | |||
| 939,000 | 2.45%, 09/15/2024 | 909,282 | |
| 208,000 | 2.90%, 09/15/2029 | 174,703 | |
| Eversource Energy | |||
| 1,595,000 | 5.13%, 05/15/2033 | 1,444,816 | |
| 260,000 | 5.45%, 03/01/2028 | 253,946 | |
| Georgia Power Co. | |||
| 548,000 | 4.30%, 03/15/2042 | 421,304 | |
| 70,000 | 4.70%, 05/15/2032 | 63,516 | |
| 510,000 | 4.95%, 05/17/2033 | 466,536 | |
| 545,000 | Investment Energy Resources Ltd. 6.25%, 04/26/2029(1) | 476,875 | |
| 251,000 | IPALCO Enterprises, Inc. 3.70%, 09/01/2024 | 244,692 | |
| 455,000 | Monongahela Power Co. 5.85%, 02/15/2034(1) | 434,482 | |
| 185,000 | National Grid PLC 5.60%, 06/12/2028 | 180,707 | |
| 500,000 | National Rural Utilities Cooperative Finance Corp. 5.80%, 01/15/2033 | 484,563 | |
| NextEra Energy Capital Holdings, Inc. | |||
| 1,005,000 | 1.88%, 01/15/2027 | 883,035 | |
| 1,130,000 | 2.25%, 06/01/2030 | 882,027 | |
| 1,200,000 | 4.63%, 07/15/2027 | 1,144,142 | |
| 350,000 | 5.00%, 02/28/2030 | 327,347 | |
| 865,000 | 5.00%, 07/15/2032 | 787,643 | |
| 629,000 | NRG Energy, Inc. 2.45%, 12/02/2027(1) | 530,634 | |
| 484,000 | Oglethorpe Power Corp. 4.50%, 04/01/2047 | 349,782 | |
| 415,000 | Ohio Edison Co. 5.50%, 01/15/2033(1) | 386,688 | |
| Pacific Gas & Electric Co. | |||
| 875,500 | 2.50%, 02/01/2031 | 650,080 | |
| 245,000 | 4.40%, 03/01/2032 | 201,829 | |
| 664,000 | 4.50%, 07/01/2040 | 473,313 | |
| 2,054,000 | 4.55%, 07/01/2030 | 1,780,138 | |
| 79,000 | 4.95%, 07/01/2050 | 55,468 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Electric - 3.7% - (continued) | |||
| $ 750,000 | 5.90%, 06/15/2032 | $ 685,452 | |
| 2,870,000 | 6.10%, 01/15/2029 | 2,762,724 | |
| 1,099,000 | 6.15%, 01/15/2033 | 1,013,584 | |
| 2,495,000 | 6.40%, 06/15/2033 | 2,346,268 | |
| 200,000 | 6.75%, 01/15/2053 | 178,041 | |
| 205,000 | PPL Capital Funding, Inc. 4.13%, 04/15/2030 | 181,563 | |
| Puget Energy, Inc. | |||
| 750,000 | 2.38%, 06/15/2028 | 635,537 | |
| 130,000 | 3.65%, 05/15/2025 | 124,769 | |
| 1,346,000 | 4.10%, 06/15/2030 | 1,151,637 | |
| 289,000 | 4.22%, 03/15/2032 | 240,977 | |
| 870,000 | Sempra 5.40%, 08/01/2026 | 857,608 | |
| Southern California Edison Co. | |||
| 75,000 | 3.65%, 02/01/2050 | 47,961 | |
| 313,000 | 4.05%, 03/15/2042 | 224,881 | |
| 445,000 | 5.30%, 03/01/2028 | 435,263 | |
| 270,000 | 5.85%, 11/01/2027 | 270,034 | |
| Southern Co. | |||
| 100,000 | 0.60%, 02/26/2024 | 98,330 | |
| 1,645,000 | 3.25%, 07/01/2026 | 1,537,429 | |
| 1,300,000 | 5.20%, 06/15/2033 | 1,197,568 | |
| 345,000 | 5.70%, 03/15/2034 | 328,952 | |
| 885,000 | Southwestern Electric Power Co. 5.30%, 04/01/2033 | 816,930 | |
| Virginia Electric & Power Co. | |||
| 259,000 | 2.45%, 12/15/2050 | 131,114 | |
| 815,000 | 5.00%, 04/01/2033 | 744,259 | |
| Xcel Energy, Inc. | |||
| 100,000 | 1.75%, 03/15/2027 | 87,196 | |
| 59,000 | 4.00%, 06/15/2028 | 54,552 | |
| 438,000 | 4.60%, 06/01/2032 | 387,925 | |
| 45,172,496 | |||
| Energy-Alternate Sources - 0.2% | |||
| 1,430,000 | Energo-Pro AS 8.50%, 02/04/2027(1) | 1,353,123 | |
| 470,000 | FS Luxembourg SARL 10.00%, 12/15/2025(1) | 479,884 | |
| 811,562 | Greenko Power II Ltd. 4.30%, 12/13/2028(7) | 680,133 | |
| 2,513,140 | |||
| Engineering & Construction - 0.2% | |||
| 735,000 | IHS Holding Ltd. 6.25%, 11/29/2028(1) | 540,651 | |
| International Airport Finance SA | |||
| 1,106,685 | 12.00%, 03/15/2033(1) | 1,058,417 | |
| 510,038 | 12.00%, 03/15/2033(7) | 487,793 | |
| 2,086,861 | |||
| Entertainment - 0.4% | |||
| Warnermedia Holdings, Inc. | |||
| 946,000 | 4.28%, 03/15/2032 | 786,478 | |
| 1,455,000 | 5.14%, 03/15/2052 | 1,033,962 | |
| WMG Acquisition Corp. | |||
| 715,000 | 3.75%, 12/01/2029(1) | 597,661 | |
| 2,830,000 | 3.88%, 07/15/2030(1) | 2,350,619 | |
| 4,768,720 | |||
| Environmental Control - 0.2% | |||
| 2,009,000 | Clean Harbors, Inc. 4.88%, 07/15/2027(1) | 1,869,951 | |
| 685,000 | Veralto Corp. 5.35%, 09/18/2028(1) | 663,026 | |
| 2,532,977 | |||
| Food - 0.2% | |||
| Conagra Brands, Inc. | |||
| 107,000 | 4.30%, 05/01/2024 | 105,995 | |
| 460,000 | 4.85%, 11/01/2028 | 432,432 | |
| 200,000 | General Mills, Inc. 4.95%, 03/29/2033 | 182,028 | |
| 845,000 | Minerva Luxembourg SA 8.88%, 09/13/2033(1) | 829,325 | |
| 56 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Food - 0.2% - (continued) | |||
| NBM U.S. Holdings, Inc. | |||
| $ 835,000 | 7.00%, 05/14/2026(1) | $ 827,438 | |
| 575,000 | 7.00%, 05/14/2026(7) | 569,792 | |
| 2,947,010 | |||
| Gas - 0.4% | |||
| 265,000 | Atmos Energy Corp. 5.90%, 11/15/2033 | 261,635 | |
| 1,120,000 | Brooklyn Union Gas Co. 6.39%, 09/15/2033(1) | 1,071,437 | |
| 470,000 | KeySpan Gas East Corp. 5.99%, 03/06/2033(1) | 442,865 | |
| NiSource, Inc. | |||
| 52,000 | 1.70%, 02/15/2031 | 38,168 | |
| 25,000 | 3.49%, 05/15/2027 | 23,016 | |
| 1,259,000 | 3.60%, 05/01/2030 | 1,079,383 | |
| 452,000 | 5.25%, 03/30/2028 | 439,050 | |
| 500,000 | 5.40%, 06/30/2033 | 466,286 | |
| 360,000 | Piedmont Natural Gas Co., Inc. 5.40%, 06/15/2033 | 335,114 | |
| 645,000 | Southern California Gas Co. 5.20%, 06/01/2033 | 597,282 | |
| 200,000 | Southern Co. Gas Capital Corp. 5.75%, 09/15/2033 | 190,788 | |
| 575,000 | Southwest Gas Corp. 2.20%, 06/15/2030 | 446,156 | |
| 5,391,180 | |||
| Hand/Machine Tools - 0.2% | |||
| Regal Rexnord Corp. | |||
| 1,487,000 | 6.05%, 04/15/2028(1) | 1,423,987 | |
| 1,155,000 | 6.30%, 02/15/2030(1) | 1,089,273 | |
| 2,513,260 | |||
| Healthcare - Products - 0.4% | |||
| Alcon Finance Corp. | |||
| 806,000 | 2.75%, 09/23/2026(1) | 737,530 | |
| 435,000 | 3.00%, 09/23/2029(1) | 369,546 | |
| 455,000 | 5.38%, 12/06/2032(1) | 427,221 | |
| 200,000 | 5.75%, 12/06/2052(1) | 181,401 | |
| 1,906,000 | Avantor Funding, Inc. 4.63%, 07/15/2028(1) | 1,697,290 | |
| 430,000 | GE HealthCare Technologies, Inc. 5.86%, 03/15/2030 | 420,519 | |
| Haleon U.S. Capital LLC | |||
| 380,000 | 3.38%, 03/24/2029 | 336,044 | |
| 255,000 | 3.63%, 03/24/2032 | 212,799 | |
| 647,000 | Hologic, Inc. 4.63%, 02/01/2028(1) | 588,220 | |
| 4,970,570 | |||
| Healthcare - Services - 0.4% | |||
| Centene Corp. | |||
| 665,000 | 2.45%, 07/15/2028 | 558,800 | |
| 215,000 | 4.25%, 12/15/2027 | 197,605 | |
| 1,865,000 | 4.63%, 12/15/2029 | 1,667,459 | |
| 60,000 | CommonSpirit Health 3.35%, 10/01/2029 | 51,521 | |
| Humana, Inc. | |||
| 100,000 | 1.35%, 02/03/2027 | 86,734 | |
| 75,000 | 2.15%, 02/03/2032 | 55,502 | |
| 645,000 | 3.70%, 03/23/2029 | 583,694 | |
| Kaiser Foundation Hospitals | |||
| 1,000 | 2.81%, 06/01/2041 | 646 | |
| 805,000 | 3.00%, 06/01/2051 | 476,222 | |
| 87,000 | Sutter Health 3.36%, 08/15/2050 | 54,269 | |
| UnitedHealth Group, Inc. | |||
| 1,043,000 | 2.75%, 05/15/2040 | 678,626 | |
| 110,000 | 4.45%, 12/15/2048 | 85,366 | |
| 175,000 | 4.95%, 05/15/2062 | 143,084 | |
| 265,000 | 5.35%, 02/15/2033 | 255,249 | |
| 4,894,777 | |||
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Home Builders - 0.2% | |||
| Taylor Morrison Communities, Inc. | |||
| $ 570,000 | 5.13%, 08/01/2030(1) | $ 479,042 | |
| 2,208,000 | 5.75%, 01/15/2028(1) | 2,003,899 | |
| 2,482,941 | |||
| Household Products - 0.0% | |||
| 542,000 | Kenvue, Inc. 5.05%, 03/22/2053 | 468,416 | |
| Insurance - 0.5% | |||
| 435,000 | Aon Corp./Aon Global Holdings PLC 5.35%, 02/28/2033 | 406,298 | |
| Athene Global Funding | |||
| 1,245,000 | 2.65%, 10/04/2031(1) | 916,920 | |
| 1,905,000 | 2.72%, 01/07/2029(1) | 1,558,174 | |
| Corebridge Financial, Inc. | |||
| 285,000 | 3.85%, 04/05/2029 | 252,005 | |
| 370,000 | 6.05%, 09/15/2033(1) | 348,033 | |
| 2,003,000 | Equitable Financial Life Global Funding 1.80%, 03/08/2028(1) | 1,657,511 | |
| Marsh & McLennan Cos., Inc. | |||
| 25,000 | 4.38%, 03/15/2029 | 23,388 | |
| 460,000 | 4.75%, 03/15/2039 | 393,025 | |
| 470,000 | Metropolitan Life Global Funding I 5.15%, 03/28/2033(1) | 431,073 | |
| 5,986,427 | |||
| Internet - 0.6% | |||
| Gen Digital, Inc. | |||
| 2,455,000 | 5.00%, 04/15/2025(1) | 2,376,784 | |
| 1,245,000 | 6.75%, 09/30/2027(1) | 1,212,009 | |
| Go Daddy Operating Co. LLC/GD Finance Co., Inc. | |||
| 1,225,000 | 3.50%, 03/01/2029(1) | 1,018,281 | |
| 2,383,000 | 5.25%, 12/01/2027(1) | 2,249,266 | |
| 6,856,340 | |||
| Iron/Steel - 0.0% | |||
| 130,000 | Vale Overseas Ltd. 3.75%, 07/08/2030 | 109,829 | |
| IT Services - 0.2% | |||
| 2,505,000 | Booz Allen Hamilton, Inc. 3.88%, 09/01/2028(1) | 2,231,028 | |
| Machinery-Diversified - 0.1% | |||
| 300,000 | Ingersoll Rand, Inc. 5.70%, 08/14/2033 | 284,054 | |
| 778,000 | Otis Worldwide Corp. 2.57%, 02/15/2030 | 633,803 | |
| 917,857 | |||
| Media - 1.1% | |||
| Charter Communications Operating LLC/Charter Communications Operating Capital | |||
| 310,000 | 2.25%, 01/15/2029 | 251,177 | |
| 529,000 | 3.50%, 03/01/2042 | 313,890 | |
| 1,354,000 | 5.05%, 03/30/2029 | 1,253,698 | |
| 734,000 | 5.13%, 07/01/2049 | 510,605 | |
| 1,030,000 | 5.38%, 05/01/2047 | 748,897 | |
| 761,000 | 5.75%, 04/01/2048 | 581,207 | |
| 292,000 | 6.48%, 10/23/2045 | 246,388 | |
| Comcast Corp. | |||
| 100,000 | 2.65%, 08/15/2062 | 48,968 | |
| 27,000 | 2.89%, 11/01/2051 | 14,973 | |
| 461,000 | 3.20%, 07/15/2036 | 341,264 | |
| 583,000 | 3.75%, 04/01/2040 | 430,448 | |
| Cox Communications, Inc. | |||
| 585,000 | 2.60%, 06/15/2031(1) | 449,333 | |
| 67,000 | 3.15%, 08/15/2024(1) | 65,418 | |
| Discovery Communications LLC | |||
| 513,000 | 3.63%, 05/15/2030 | 427,969 | |
| 75,600 | 3.95%, 03/20/2028 | 68,313 | |
| 57 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Media - 1.1% - (continued) | |||
| $ 215,000 | 4.00%, 09/15/2055 | $ 123,764 | |
| 179,000 | 5.20%, 09/20/2047 | 128,844 | |
| 997,000 | 5.30%, 05/15/2049 | 722,169 | |
| 1,173,000 | 6.35%, 06/01/2040 | 1,021,636 | |
| Paramount Global | |||
| 895,000 | 4.20%, 05/19/2032(8) | 692,796 | |
| 229,000 | 4.90%, 08/15/2044 | 144,525 | |
| 1,735,000 | 4.95%, 01/15/2031(8) | 1,451,396 | |
| 795,000 | 5.25%, 04/01/2044 | 518,985 | |
| Sirius XM Radio, Inc. | |||
| 1,550,000 | 3.13%, 09/01/2026(1) | 1,389,994 | |
| 1,255,000 | 4.00%, 07/15/2028(1) | 1,066,042 | |
| 441,000 | 4.13%, 07/01/2030(1) | 348,963 | |
| 13,361,662 | |||
| Mining - 0.4% | |||
| 1,680,000 | Anglo American Capital PLC 2.63%, 09/10/2030(1) | 1,317,129 | |
| Corp. Nacional del Cobre de Chile | |||
| 400,000 | 3.70%, 01/30/2050(1) | 234,749 | |
| 1,470,000 | 5.95%, 01/08/2034(1) | 1,364,215 | |
| 495,000 | FMG Resources August 2006 Pty. Ltd. 4.38%, 04/01/2031(1) | 398,999 | |
| Glencore Funding LLC | |||
| 320,000 | 2.85%, 04/27/2031(1) | 248,897 | |
| 625,000 | 5.70%, 05/08/2033(1) | 581,169 | |
| 1,230,000 | 6.38%, 10/06/2030(1) | 1,206,617 | |
| 5,351,775 | |||
| Office/Business Equipment - 0.2% | |||
| CDW LLC/CDW Finance Corp. | |||
| 225,000 | 2.67%, 12/01/2026 | 201,260 | |
| 2,709,000 | 3.25%, 02/15/2029 | 2,287,103 | |
| 2,488,363 | |||
| Oil & Gas - 1.7% | |||
| Aker BP ASA | |||
| 600,000 | 2.00%, 07/15/2026(1) | 536,646 | |
| 420,000 | 3.10%, 07/15/2031(1) | 330,278 | |
| 970,000 | 5.60%, 06/13/2028(1) | 942,598 | |
| 620,000 | 6.00%, 06/13/2033(1) | 585,277 | |
| BP Capital Markets America, Inc. | |||
| 85,000 | 2.94%, 06/04/2051 | 49,285 | |
| 100,000 | 3.06%, 06/17/2041 | 66,610 | |
| 120,000 | 3.38%, 02/08/2061 | 71,528 | |
| 1,039,000 | 4.81%, 02/13/2033 | 951,717 | |
| 960,000 | 4.89%, 09/11/2033 | 881,043 | |
| ConocoPhillips Co. | |||
| 56,000 | 4.03%, 03/15/2062 | 38,075 | |
| 720,000 | 5.05%, 09/15/2033 | 672,406 | |
| 700,000 | 5.70%, 09/15/2063 | 628,999 | |
| 416,000 | Continental Resources, Inc. 5.75%, 01/15/2031(1) | 386,431 | |
| Ecopetrol SA | |||
| 1,065,000 | 4.63%, 11/02/2031 | 799,938 | |
| 2,835,000 | 8.63%, 01/19/2029 | 2,826,413 | |
| 510,000 | 8.88%, 01/13/2033 | 489,638 | |
| Energian Israel Finance Ltd. | |||
| 709,000 | 5.88%, 03/30/2031(7) | 565,300 | |
| 600,000 | 8.50%, 09/30/2033(7) | 522,750 | |
| Equinor ASA | |||
| 275,000 | 3.25%, 11/18/2049 | 175,692 | |
| 350,000 | 3.70%, 04/06/2050 | 243,849 | |
| 664,000 | Hess Corp. 7.30%, 08/15/2031 | 717,934 | |
| Leviathan Bond Ltd. | |||
| 1,225,000 | 6.50%, 06/30/2027(7) | 1,074,533 | |
| 170,000 | 6.75%, 06/30/2030(7) | 143,754 | |
| 515,000 | Marathon Oil Corp. 6.60%, 10/01/2037 | 493,556 | |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Oil & Gas - 1.7% - (continued) | |||
| Occidental Petroleum Corp. | |||
| $ 300,000 | 6.45%, 09/15/2036 | $ 291,408 | |
| 940,000 | 6.63%, 09/01/2030 | 942,873 | |
| Ovintiv, Inc. | |||
| 130,000 | 5.65%, 05/15/2028 | 126,279 | |
| 255,000 | 6.50%, 08/15/2034 | 244,497 | |
| 445,000 | 6.63%, 08/15/2037 | 418,019 | |
| Patterson-UTI Energy, Inc. | |||
| 825,000 | 5.15%, 11/15/2029 | 737,310 | |
| 225,000 | 7.15%, 10/01/2033 | 219,980 | |
| Shell International Finance BV | |||
| 8,000 | 2.88%, 11/26/2041 | 5,197 | |
| 982,000 | 3.00%, 11/26/2051 | 583,264 | |
| 249,000 | 3.25%, 04/06/2050 | 158,095 | |
| 765,000 | Var Energi ASA 7.50%, 01/15/2028(1) | 782,728 | |
| 2,025,000 | Viper Energy Partners LP 5.38%, 11/01/2027(1) | 1,919,194 | |
| 20,623,094 | |||
| Packaging & Containers - 0.4% | |||
| Ball Corp. | |||
| 1,068,000 | 4.00%, 11/15/2023 | 1,065,348 | |
| 3,700,000 | 6.00%, 06/15/2029 | 3,539,144 | |
| 4,604,492 | |||
| Pharmaceuticals - 0.1% | |||
| 25,000 | Cigna Group 1.25%, 03/15/2026 | 22,490 | |
| CVS Health Corp. | |||
| 630,000 | 4.13%, 04/01/2040 | 468,661 | |
| 515,000 | 5.13%, 02/21/2030 | 487,064 | |
| 275,000 | 5.25%, 01/30/2031 | 259,164 | |
| 1,237,379 | |||
| Pipelines - 1.5% | |||
| 489,000 | Cheniere Energy Partners LP 4.50%, 10/01/2029 | 437,685 | |
| 1,058,000 | Columbia Pipelines Holding Co. LLC 6.04%, 08/15/2028(1) | 1,040,193 | |
| Columbia Pipelines Operating Co. LLC | |||
| 120,000 | 5.93%, 08/15/2030(1) | 116,019 | |
| 845,000 | 6.04%, 11/15/2033(1) | 803,940 | |
| 90,000 | 6.54%, 11/15/2053(1) | 83,215 | |
| 555,000 | EIG Pearl Holdings SARL 3.55%, 08/31/2036(1) | 432,900 | |
| Enbridge, Inc. | |||
| 1,845,000 | 5.70%, 03/08/2033 | 1,728,294 | |
| 1,150,000 | 8.50%, 01/15/2084, (8.50% fixed rate until 10/15/2033; 5 yr. USD CMT + 4.43% thereafter)(6) | 1,104,770 | |
| Energy Transfer LP | |||
| 75,100 | 4.25%, 04/01/2024 | 74,462 | |
| 440,000 | 5.15%, 02/01/2043 | 338,882 | |
| 115,000 | 5.25%, 04/15/2029 | 109,242 | |
| 720,000 | 6.05%, 12/01/2026 | 718,509 | |
| 240,000 | 6.10%, 12/01/2028 | 237,079 | |
| 1,560,000 | 6.40%, 12/01/2030 | 1,543,288 | |
| EQM Midstream Partners LP | |||
| 60,000 | 5.50%, 07/15/2028 | 55,649 | |
| 55,000 | 6.50%, 07/01/2027(1) | 53,458 | |
| 532,812 | Galaxy Pipeline Assets Bidco Ltd. 2.94%, 09/30/2040(1) | 393,150 | |
| Greensaif Pipelines Bidco SARL | |||
| 2,030,000 | 6.13%, 02/23/2038(1) | 1,889,839 | |
| 830,000 | 6.51%, 02/23/2042(1) | 773,803 | |
| MPLX LP | |||
| 620,000 | 1.75%, 03/01/2026 | 562,519 | |
| 440,000 | 2.65%, 08/15/2030 | 348,524 | |
| 195,000 | 4.95%, 03/14/2052 | 145,780 | |
| 58 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Pipelines - 1.5% - (continued) | |||
| ONEOK, Inc. | |||
| $ 60,000 | 3.10%, 03/15/2030 | $ 49,579 | |
| 475,000 | 3.40%, 09/01/2029 | 406,839 | |
| 860,000 | 4.35%, 03/15/2029 | 781,744 | |
| 60,000 | 6.00%, 06/15/2035 | 55,757 | |
| 345,000 | 6.10%, 11/15/2032 | 333,146 | |
| 145,000 | Plains All American Pipeline LP/PAA Finance Corp. 3.55%, 12/15/2029 | 123,316 | |
| 413,000 | Sabine Pass Liquefaction LLC 4.50%, 05/15/2030 | 371,062 | |
| Targa Resources Corp. | |||
| 260,000 | 6.13%, 03/15/2033 | 249,491 | |
| 470,000 | 6.25%, 07/01/2052 | 413,166 | |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp. | |||
| 270,000 | 4.00%, 01/15/2032 | 221,419 | |
| 100,000 | 4.88%, 02/01/2031 | 88,185 | |
| Transcontinental Gas Pipe Line Co. LLC | |||
| 205,000 | 3.25%, 05/15/2030 | 171,974 | |
| 35,000 | 4.00%, 03/15/2028 | 32,234 | |
| Western Midstream Operating LP | |||
| 65,000 | 4.05%, 02/01/2030(5) | 56,359 | |
| 495,000 | 4.75%, 08/15/2028 | 460,457 | |
| 585,000 | 6.15%, 04/01/2033 | 553,360 | |
| Williams Cos., Inc. | |||
| 104,000 | 3.90%, 01/15/2025 | 101,263 | |
| 85,000 | 4.00%, 09/15/2025 | 81,716 | |
| 60,000 | 4.50%, 11/15/2023 | 59,966 | |
| 875,000 | 4.65%, 08/15/2032 | 772,508 | |
| 620,000 | 5.65%, 03/15/2033 | 586,179 | |
| 18,960,920 | |||
| Real Estate Investment Trusts - 0.7% | |||
| American Tower Corp. | |||
| 380,000 | 1.45%, 09/15/2026 | 333,498 | |
| 100,000 | 2.40%, 03/15/2025 | 94,956 | |
| 140,000 | 2.70%, 04/15/2031 | 108,440 | |
| 683,000 | 3.80%, 08/15/2029 | 598,323 | |
| 620,000 | 5.80%, 11/15/2028 | 606,283 | |
| Crown Castle, Inc. | |||
| 225,000 | 2.50%, 07/15/2031 | 170,274 | |
| 420,000 | 2.90%, 03/15/2027 | 377,110 | |
| 245,000 | 3.80%, 02/15/2028 | 221,066 | |
| 2,040,000 | 4.80%, 09/01/2028 | 1,907,174 | |
| 95,000 | 5.00%, 01/11/2028 | 90,229 | |
| 1,165,000 | Equinix, Inc. 3.20%, 11/18/2029 | 985,100 | |
| GLP Capital LP/GLP Financing II, Inc. | |||
| 1,100,000 | 4.00%, 01/15/2031 | 894,949 | |
| 260,000 | 5.30%, 01/15/2029 | 237,532 | |
| 378,000 | 5.75%, 06/01/2028 | 354,331 | |
| 675,000 | SBA Tower Trust 2.84%, 01/15/2050(1) | 644,510 | |
| 1,468,000 | VICI Properties LP 4.95%, 02/15/2030 | 1,308,693 | |
| 8,932,468 | |||
| Retail - 0.7% | |||
| AutoZone, Inc. | |||
| 95,000 | 3.13%, 04/21/2026 | 89,021 | |
| 496,000 | 4.75%, 08/01/2032 | 440,792 | |
| 160,000 | 4.75%, 02/01/2033 | 141,442 | |
| 490,000 | 6.55%, 11/01/2033 | 492,586 | |
| FirstCash, Inc. | |||
| 2,699,000 | 4.63%, 09/01/2028(1) | 2,367,302 | |
| 1,010,000 | 5.63%, 01/01/2030(1) | 899,085 | |
| Gap, Inc. | |||
| 2,024,000 | 3.63%, 10/01/2029(1) | 1,546,830 | |
| 1,726,000 | 3.88%, 10/01/2031(1) | 1,239,091 | |
| 1,136,000 | O'Reilly Automotive, Inc. 4.70%, 06/15/2032 | 1,019,524 | |
| 8,235,673 | |||
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Semiconductors - 0.4% | |||
| $ 1,785,000 | Broadcom, Inc. 4.00%, 04/15/2029(1) | $ 1,595,399 | |
| Intel Corp. | |||
| 644,000 | 3.05%, 08/12/2051 | 371,383 | |
| 70,000 | 5.70%, 02/10/2053 | 62,990 | |
| 235,000 | 5.90%, 02/10/2063 | 213,463 | |
| Marvell Technology, Inc. | |||
| 1,098,000 | 2.45%, 04/15/2028 | 940,103 | |
| 240,000 | 2.95%, 04/15/2031 | 189,821 | |
| 285,000 | 5.95%, 09/15/2033 | 270,927 | |
| 105,000 | NXP BV/NXP Funding LLC 5.55%, 12/01/2028 | 101,380 | |
| 101,000 | NXP BV/NXP Funding LLC/NXP USA, Inc. 4.30%, 06/18/2029 | 91,218 | |
| 910,000 | Qorvo, Inc. 3.38%, 04/01/2031(1) | 705,693 | |
| 4,542,377 | |||
| Software - 1.1% | |||
| 2,365,000 | Black Knight InfoServ LLC 3.63%, 09/01/2028(1) | 2,101,917 | |
| 752,000 | Fair Isaac Corp. 4.00%, 06/15/2028(1) | 669,612 | |
| MSCI, Inc. | |||
| 959,000 | 3.63%, 11/01/2031(1) | 762,457 | |
| 341,000 | 3.88%, 02/15/2031(1) | 281,690 | |
| 395,000 | 4.00%, 11/15/2029(1) | 340,165 | |
| Open Text Corp. | |||
| 2,395,000 | 3.88%, 12/01/2029(1) | 1,958,772 | |
| 1,425,000 | 6.90%, 12/01/2027(1) | 1,418,023 | |
| 680,000 | Open Text Holdings, Inc. 4.13%, 12/01/2031(1) | 533,407 | |
| Oracle Corp. | |||
| 200,000 | 2.88%, 03/25/2031 | 160,621 | |
| 220,000 | 2.95%, 04/01/2030 | 182,595 | |
| 201,000 | 3.60%, 04/01/2040 | 138,764 | |
| 846,000 | 3.60%, 04/01/2050 | 521,365 | |
| 944,000 | 3.85%, 04/01/2060 | 570,706 | |
| 100,000 | 3.95%, 03/25/2051 | 65,341 | |
| 170,000 | 4.00%, 07/15/2046 | 114,810 | |
| 295,000 | 4.00%, 11/15/2047 | 197,486 | |
| 85,000 | 4.13%, 05/15/2045 | 59,052 | |
| 1,133,000 | 6.15%, 11/09/2029 | 1,137,398 | |
| 2,486,000 | SS&C Technologies, Inc. 5.50%, 09/30/2027(1) | 2,334,781 | |
| 13,548,962 | |||
| Telecommunications - 0.6% | |||
| AT&T, Inc. | |||
| 640,000 | 2.55%, 12/01/2033 | 460,539 | |
| 6,000 | 3.55%, 09/15/2055 | 3,512 | |
| 1,527,000 | 3.80%, 12/01/2057 | 926,028 | |
| 1,165,000 | 5.40%, 02/15/2034 | 1,071,395 | |
| Rogers Communications, Inc. | |||
| 520,000 | 3.80%, 03/15/2032 | 422,568 | |
| 56,000 | 4.30%, 02/15/2048 | 37,848 | |
| T-Mobile USA, Inc. | |||
| 586,000 | 2.05%, 02/15/2028 | 499,828 | |
| 1,372,000 | 3.88%, 04/15/2030 | 1,196,479 | |
| 435,000 | 5.05%, 07/15/2033 | 394,041 | |
| 585,000 | 5.75%, 01/15/2034 | 556,342 | |
| 260,000 | 5.80%, 09/15/2062 | 225,544 | |
| Verizon Communications, Inc. | |||
| 604,000 | 2.36%, 03/15/2032 | 452,908 | |
| 725,000 | 2.55%, 03/21/2031 | 567,482 | |
| 619,000 | 2.65%, 11/20/2040 | 375,186 | |
| 75,000 | 4.50%, 08/10/2033 | 65,147 | |
| 7,254,847 | |||
| Trucking & Leasing - 0.4% | |||
| 1,615,000 | DAE Funding LLC 1.55%, 08/01/2024(1) | 1,552,861 | |
| 59 |
| Shares or Principal Amount | Market Value† | ||
| CORPORATE BONDS - 27.4% - (continued) | |||
| Trucking & Leasing - 0.4% - (continued) | |||
| Penske Truck Leasing Co. LP/PTL Finance Corp. | |||
| $ 898,000 | 2.70%, 11/01/2024(1) | $ 866,585 | |
| 1,568,000 | 4.00%, 07/15/2025(1) | 1,508,530 | |
| 617,000 | 4.40%, 07/01/2027(1) | 574,337 | |
| 280,000 | 6.05%, 08/01/2028(1) | 274,859 | |
| 4,777,172 | |||
| Total Corporate Bonds (cost $369,668,300) | $ 337,732,882 | ||
| FOREIGN GOVERNMENT OBLIGATIONS - 2.4% | |||
| Angola - 0.1% | |||
| Angola Government International Bonds | |||
| 580,000 | 8.00%, 11/26/2029(7) | $ 461,865 | |
| 290,000 | 8.75%, 04/14/2032(1) | 225,364 | |
| 687,229 | |||
| Benin - 0.1% | |||
| Benin Government International Bonds | |||
| EUR 1,130,000 | 4.95%, 01/22/2035(1) | 807,779 | |
| 560,000 | 4.95%, 01/22/2035(7) | 400,316 | |
| 1,208,095 | |||
| Bermuda - 0.1% | |||
| Bermuda Government International Bonds | |||
| $ 455,000 | 2.38%, 08/20/2030(1) | 360,087 | |
| 1,305,000 | 5.00%, 07/15/2032(1) | 1,184,695 | |
| 1,544,782 | |||
| Brazil - 0.4% | |||
| BRL 25,006,000 | Brazil Notas do Tesouro Nacional 10.00%, 01/01/2031 | 4,553,118 | |
| Chile - 0.0% | |||
| EUR 790,000 | Chile Government International Bonds 1.25%, 01/22/2051 | 394,535 | |
| Colombia - 0.2% | |||
| Colombia Government International Bonds | |||
| $ 1,175,000 | 5.00%, 06/15/2045 | 748,540 | |
| 885,000 | 5.20%, 05/15/2049 | 564,852 | |
| 1,610,000 | 5.63%, 02/26/2044 | 1,124,741 | |
| 2,438,133 | |||
| Costa Rica - 0.1% | |||
| 1,150,000 | Costa Rica Government International Bonds 6.55%, 04/03/2034(1) | 1,095,375 | |
| Ghana - 0.0% | |||
| 204,000 | Ghana Government International Bonds 6.38%, 02/11/2027(1)(9) | 88,740 | |
| Hungary - 0.2% | |||
| Hungary Government International Bonds | |||
| EUR 2,980,000 | 1.63%, 04/28/2032(7) | 2,348,441 | |
| $ 200,000 | 6.75%, 09/25/2052(1) | 184,604 | |
| 2,533,045 | |||
| Indonesia - 0.2% | |||
| Indonesia Government International Bonds | |||
| EUR 2,600,000 | 1.10%, 03/12/2033 | 1,967,299 | |
| 100,000 | 2.15%, 07/18/2024(7) | 103,715 | |
| 2,071,014 | |||
| Ivory Coast - 0.1% | |||
| 1,290,000 | Ivory Coast Government International Bonds 4.88%, 01/30/2032(7) | 1,027,761 | |
| Shares or Principal Amount | Market Value† | ||
| FOREIGN GOVERNMENT OBLIGATIONS - 2.4% - (continued) | |||
| Mexico - 0.0% | |||
| $ 200,000 | Mexico Government International Bonds 6.34%, 05/04/2053 | $ 174,926 | |
| North Macedonia - 0.2% | |||
| North Macedonia Government International Bonds | |||
| EUR 770,000 | 2.75%, 01/18/2025(7) | 778,746 | |
| 985,000 | 3.68%, 06/03/2026(1) | 975,386 | |
| 835,000 | 3.68%, 06/03/2026(7) | 826,850 | |
| 2,580,982 | |||
| Panama - 0.0% | |||
| $ 425,000 | Panama Government International Bonds 6.88%, 01/31/2036 | 400,218 | |
| Philippines - 0.1% | |||
| Philippines Government International Bonds | |||
| EUR 1,400,000 | 1.20%, 04/28/2033 | 1,094,933 | |
| 900,000 | 1.75%, 04/28/2041 | 595,447 | |
| 1,690,380 | |||
| Poland - 0.1% | |||
| Bank Gospodarstwa Krajowego | |||
| $ 405,000 | 5.38%, 05/22/2033(1) | 376,144 | |
| 740,000 | 6.25%, 10/31/2028(1) | 748,525 | |
| 1,124,669 | |||
| Romania - 0.4% | |||
| Romania Government International Bonds | |||
| EUR 1,265,000 | 2.63%, 12/02/2040(1) | 785,816 | |
| 5,520,000 | 2.75%, 04/14/2041(7) | 3,438,679 | |
| 750,000 | 3.38%, 02/08/2038(7) | 556,590 | |
| 4,781,085 | |||
| Saudi Arabia - 0.1% | |||
| Saudi Government International Bonds | |||
| 580,000 | 2.00%, 07/09/2039(7) | 416,096 | |
| $ 930,000 | 5.00%, 01/18/2053(1) | 735,427 | |
| 1,151,523 | |||
| Total Foreign Government Obligations (cost $39,144,182) | $ 29,545,610 | ||
| MUNICIPAL BONDS - 1.0% | |||
| Development - 0.1% | |||
| 1,500,000 | New York Transportation Dev Corp., NY, Rev 4.25%, 09/01/2035 | $ 1,403,793 | |
| General - 0.4% | |||
| 250,000 | Chicago Transit Auth Sales Tax Receipts Fund, IL, Rev 3.91%, 12/01/2040 | 194,395 | |
| 1,630,000 | County of Riverside, CA, Rev 3.07%, 02/15/2028 | 1,485,275 | |
| 1,530,000 | Philadelphia Auth for Industrial Dev, PA, Rev, (NATL Insured) 6.55%, 10/15/2028 | 1,566,263 | |
| 1,430,000 | State Board of Administration Finance Corp., FL, Rev 1.26%, 07/01/2025 | 1,333,346 | |
| 4,579,279 | |||
| General Obligation - 0.1% | |||
| 335,000 | State of California, CA, GO 7.30%, 10/01/2039 | 369,303 | |
| 125,000 | State of Illinois, IL, GO, (AGM-CR Insured) 6.88%, 07/01/2025 | 126,371 | |
| 495,674 | |||
| School District - 0.1% | |||
| Chicago Board of Education, IL, GO | |||
| 270,000 | 6.04%, 12/01/2029 | 255,764 | |
| 60 |
| Shares or Principal Amount | Market Value† | ||
| MUNICIPAL BONDS - 1.0% - (continued) | |||
| School District - 0.1% - (continued) | |||
| $ 220,000 | 6.14%, 12/01/2039 | $ 189,578 | |
| 1,335,000 | 6.32%, 11/01/2029 | 1,258,520 | |
| 1,703,862 | |||
| Transportation - 0.2% | |||
| Metropolitan Transportation Auth, NY, Rev | |||
| 600,000 | 5.00%, 11/15/2050 | 569,823 | |
| 1,840,000 | 5.18%, 11/15/2049 | 1,510,088 | |
| 2,079,911 | |||
| Utilities - 0.1% | |||
| 1,355,000 | Texas Natural Gas Securitization Finance Corp., TX, Rev 5.10%, 04/01/2035 | 1,311,324 | |
| Utility - Electric - 0.0% | |||
| 363,000 | Municipal Electric Auth of Georgia, GA, Rev 6.64%, 04/01/2057 | 370,013 | |
| Total Municipal Bonds (cost $13,418,862) | $ 11,943,856 | ||
| U.S. GOVERNMENT AGENCIES - 45.5% | |||
| Mortgage-Backed Agencies - 45.5% | |||
| Federal Home Loan Mortgage Corp. - 6.9% | |||
| 3,104,513 | 0.48%, 01/25/2034(3)(4) | $ 102,221 | |
| 1,544,855 | 0.63%, 10/25/2026(3)(4) | 22,001 | |
| 6,561,587 | 0.72%, 12/25/2030(3)(4) | 258,620 | |
| 3,267,013 | 0.75%, 06/25/2027(3)(4) | 71,232 | |
| 1,469,372 | 0.88%, 11/25/2030(3)(4) | 67,898 | |
| 634,755 | 1.00%, 10/25/2040 | 474,943 | |
| 1,181,859 | 1.00%, 02/25/2051 | 939,652 | |
| 2,579,578 | 1.02%, 10/25/2030(3)(4) | 135,910 | |
| 3,420,467 | 1.12%, 01/25/2030(3)(4) | 182,178 | |
| 4,259,244 | 1.12%, 06/25/2030(3)(4) | 244,177 | |
| 3,311,626 | 1.43%, 05/25/2030(3)(4) | 239,365 | |
| 5,381,778 | 1.50%, 05/15/2037(4) | 309,399 | |
| 2,070,423 | 1.57%, 05/25/2030(3)(4) | 160,647 | |
| 242,242 | 1.75%, 10/15/2042 | 196,970 | |
| 1,140,522 | 2.00%, 05/01/2036 | 971,461 | |
| 397,416 | 2.00%, 06/01/2036 | 338,482 | |
| 183,688 | 2.00%, 12/01/2040 | 145,724 | |
| 1,079,971 | 2.00%, 05/01/2041 | 854,944 | |
| 1,216,948 | 2.00%, 12/01/2041 | 955,299 | |
| 715,339 | 2.00%, 10/01/2050 | 530,176 | |
| 855,831 | 2.00%, 02/01/2051 | 640,418 | |
| 4,423,111 | 2.00%, 03/01/2051 | 3,285,020 | |
| 1,486,677 | 2.00%, 04/01/2051 | 1,101,882 | |
| 819,277 | 2.00%, 05/01/2051 | 612,882 | |
| 348,829 | 2.00%, 08/01/2051 | 258,107 | |
| 355,501 | 2.00%, 11/01/2051 | 263,979 | |
| 1,285,156 | 2.00%, 01/01/2052 | 949,012 | |
| 1,383,330 | 2.00%, 04/01/2052 | 1,033,645 | |
| 2,277,242 | 2.00%, 06/15/2052(4) | 276,273 | |
| 2,882,473 | 2.50%, 04/25/2036(4) | 284,640 | |
| 286,000 | 2.50%, 10/25/2041 | 204,591 | |
| 512,534 | 2.50%, 05/01/2050 | 400,198 | |
| 633,522 | 2.50%, 06/01/2050 | 490,342 | |
| 1,605,222 | 2.50%, 06/25/2050(4) | 230,130 | |
| 3,660,607 | 2.50%, 07/01/2050 | 2,837,786 | |
| 1,017,283 | 2.50%, 08/01/2050 | 789,560 | |
| 1,487,258 | 2.50%, 09/01/2050 | 1,148,300 | |
| 1,186,692 | 2.50%, 10/01/2050 | 930,028 | |
| 1,098,870 | 2.50%, 11/01/2050 | 850,491 | |
| 335,591 | 2.50%, 02/01/2051 | 262,678 | |
| 839,689 | 2.50%, 03/01/2051 | 649,891 | |
| 379,806 | 2.50%, 05/01/2051 | 293,492 | |
| 251,588 | 2.50%, 07/01/2051 | 194,721 | |
| 352,270 | 2.50%, 08/01/2051 | 272,197 | |
| 584,807 | 2.50%, 10/01/2051 | 451,964 | |
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT AGENCIES - 45.5% - (continued) | |||
| Mortgage-Backed Agencies - 45.5% - (continued) | |||
| Federal Home Loan Mortgage Corp. - 6.9% - (continued) | |||
| $ 1,615,958 | 2.50%, 03/15/2052(4) | $ 226,273 | |
| 1,059,749 | 2.50%, 03/25/2052 | 869,602 | |
| 2,314,407 | 2.50%, 04/01/2052 | 1,781,860 | |
| 1,221,955 | 3.00%, 10/01/2032 | 1,138,193 | |
| 3,855 | 3.00%, 05/15/2041 | 3,490 | |
| 90,927 | 3.00%, 07/01/2047 | 75,351 | |
| 290,875 | 3.00%, 12/15/2047 | 199,600 | |
| 129,935 | 3.00%, 01/01/2048 | 107,254 | |
| 1,158,056 | 3.00%, 07/01/2050 | 938,573 | |
| 750,689 | 3.00%, 08/01/2050 | 604,681 | |
| 204,591 | 3.00%, 08/01/2051 | 165,335 | |
| 1,594,684 | 3.00%, 09/25/2051(4) | 256,562 | |
| 1,130,808 | 3.00%, 10/01/2051 | 915,529 | |
| 432,197 | 3.00%, 01/01/2052 | 351,720 | |
| 565,730 | 3.00%, 05/01/2052 | 457,933 | |
| 1,245,407 | 3.50%, 01/15/2033(4) | 127,622 | |
| 479,581 | 3.50%, 05/15/2034(4) | 38,756 | |
| 662,022 | 3.50%, 10/15/2042 | 581,753 | |
| 247,986 | 3.50%, 10/15/2045 | 209,032 | |
| 670,094 | 3.50%, 12/01/2046 | 575,642 | |
| 618,862 | 3.50%, 12/15/2046 | 522,379 | |
| 432,710 | 3.50%, 01/01/2047 | 375,836 | |
| 251,740 | 3.50%, 03/15/2047 | 214,258 | |
| 124,650 | 3.50%, 06/01/2047 | 107,081 | |
| 150,035 | 3.50%, 12/01/2047 | 128,224 | |
| 160,123 | 3.50%, 01/01/2048 | 137,188 | |
| 232,779 | 3.50%, 12/01/2048 | 198,742 | |
| 910,546 | 3.50%, 04/01/2050 | 774,897 | |
| 332,797 | 4.00%, 05/01/2038 | 307,931 | |
| 425,481 | 4.00%, 05/25/2040(4) | 62,225 | |
| 718,165 | 4.00%, 09/15/2041 | 650,309 | |
| 9,562 | 4.00%, 01/01/2042 | 8,545 | |
| 160,426 | 4.00%, 03/01/2042 | 143,653 | |
| 4,311 | 4.00%, 04/01/2042 | 3,854 | |
| 6,462 | 4.00%, 06/01/2042 | 5,779 | |
| 104,024 | 4.00%, 04/01/2047 | 92,392 | |
| 199,348 | 4.00%, 11/01/2047 | 176,793 | |
| 407,540 | 4.00%, 12/01/2047 | 368,480 | |
| 1,359,794 | 4.00%, 04/01/2049 | 1,195,630 | |
| 370,859 | 4.00%, 05/01/2049 | 328,978 | |
| 1,112,551 | 4.00%, 07/01/2049 | 984,981 | |
| 1,581,564 | 4.00%, 09/25/2050(4) | 320,018 | |
| 1,121,907 | 4.50%, 07/01/2052 | 1,004,054 | |
| 91,913 | 5.00%, 09/01/2035 | 88,929 | |
| 356,859 | 5.00%, 09/15/2036(4) | 61,108 | |
| 1,059,969 | 5.00%, 03/15/2045(4) | 224,726 | |
| 191,174 | 5.00%, 02/15/2048(4) | 39,907 | |
| 45,004 | 5.00%, 09/01/2048 | 42,311 | |
| 29,145 | 5.00%, 02/01/2049 | 27,375 | |
| 14,466,389 | 5.00%, 09/01/2052 | 13,355,398 | |
| 797,670 | 5.00%, 10/01/2052 | 736,420 | |
| 96,615 | 5.00%, 11/01/2052 | 89,171 | |
| 2,550,690 | 5.00%, 12/01/2052 | 2,353,990 | |
| 31,888 | 5.00%, 01/01/2053 | 29,427 | |
| 650,091 | 5.00%, 02/01/2053 | 599,985 | |
| 2,842,436 | 5.00%, 04/01/2053 | 2,623,834 | |
| 9,075 | 5.50%, 02/01/2029 | 9,083 | |
| 13,824 | 5.50%, 12/01/2038 | 13,239 | |
| 425,585 | 5.50%, 05/15/2040(4) | 84,110 | |
| 397,967 | 5.50%, 06/15/2046(4) | 78,408 | |
| 363,147 | 5.50%, 10/15/2046(4) | 73,235 | |
| 307,708 | 5.50%, 02/01/2049 | 297,184 | |
| 36,006 | 5.50%, 03/01/2049 | 34,774 | |
| 1,231,024 | 5.50%, 02/01/2053 | 1,173,822 | |
| 2,505,392 | 5.50%, 04/01/2053 | 2,380,318 | |
| 818,448 | 6.00%, 12/01/2052 | 801,349 | |
| 61 |
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT AGENCIES - 45.5% - (continued) | |||
| Mortgage-Backed Agencies - 45.5% - (continued) | |||
| Federal Home Loan Mortgage Corp. - 6.9% - (continued) | |||
| $ 383,276 | 6.00%, 03/01/2053 | $ 375,076 | |
| 892,000 | 8.22%, 04/25/2042, 30 day USD SOFR Average + 2.90%(1)(2) | 908,724 | |
| 805,000 | 8.57%, 04/25/2043, 30 day USD SOFR Average + 3.25%(1)(2) | 823,510 | |
| 1,310,000 | 8.67%, 05/25/2042, 30 day USD SOFR Average + 3.35%(1)(2) | 1,352,406 | |
| 2,815,000 | 8.67%, 06/25/2043, 30 day USD SOFR Average + 3.35%(1)(2) | 2,881,856 | |
| 2,819,800 | 8.82%, 03/25/2042, 30 day USD SOFR Average + 3.50%(1)(2) | 2,899,045 | |
| 2,460,000 | 8.82%, 05/25/2043, 30 day USD SOFR Average + 3.50%(1)(2) | 2,531,072 | |
| 380,000 | 8.87%, 08/25/2042, 30 day USD SOFR Average + 3.55%(1)(2) | 391,393 | |
| 1,105,000 | 9.02%, 09/25/2042, 30 day USD SOFR Average + 3.70%(1)(2) | 1,158,062 | |
| 970,000 | 9.32%, 07/25/2042, 30 day USD SOFR Average + 4.00%(1)(2) | 1,014,700 | |
| 1,593,000 | 9.82%, 06/25/2042, 30 day USD SOFR Average + 4.50%(1)(2) | 1,696,470 | |
| 84,900,931 | |||
| Federal National Mortgage Association - 14.4% | |||
| 136,525 | 0.00%, 06/25/2041(10)(11) | 96,319 | |
| 2,311,592 | 0.31%, 01/25/2030(3)(4) | 24,258 | |
| 6,117,822 | 1.16%, 06/25/2034(3)(4) | 379,219 | |
| 4,056,672 | 1.41%, 05/25/2029(3)(4) | 196,717 | |
| 3,515,771 | 1.50%, 11/25/2035(4) | 189,875 | |
| 217,551 | 1.50%, 07/01/2051 | 151,685 | |
| 3,789,518 | 1.50%, 09/01/2051 | 2,639,756 | |
| 827,554 | 2.00%, 03/01/2036 | 709,057 | |
| 1,181,640 | 2.00%, 05/01/2036 | 1,006,294 | |
| 1,350,748 | 2.00%, 06/01/2036 | 1,156,887 | |
| 1,306,333 | 2.00%, 08/01/2036 | 1,112,482 | |
| 722,745 | 2.00%, 09/01/2036 | 615,457 | |
| 448,667 | 2.00%, 12/01/2036 | 382,139 | |
| 165,414 | 2.00%, 02/01/2037 | 140,874 | |
| 651,735 | 2.00%, 09/01/2040 | 517,203 | |
| 2,343,082 | 2.00%, 12/01/2040 | 1,859,294 | |
| 630,208 | 2.00%, 04/01/2041 | 499,497 | |
| 223,173 | 2.00%, 05/01/2041 | 176,676 | |
| 2,403 | 2.00%, 09/25/2041 | 2,116 | |
| 880,818 | 2.00%, 10/01/2041 | 692,901 | |
| 4,241 | 2.00%, 12/25/2041 | 3,675 | |
| 568,284 | 2.00%, 02/01/2042 | 450,959 | |
| 309,646 | 2.00%, 03/25/2044 | 273,165 | |
| 321,035 | 2.00%, 05/25/2044 | 277,605 | |
| 511,142 | 2.00%, 08/25/2050 | 296,228 | |
| 2,225,769 | 2.00%, 10/01/2050 | 1,656,565 | |
| 1,760,638 | 2.00%, 12/01/2050 | 1,306,109 | |
| 3,887,959 | 2.00%, 02/01/2051 | 2,880,726 | |
| 6,116,115 | 2.00%, 03/01/2051 | 4,523,672 | |
| 7,912,338 | 2.00%, 04/01/2051 | 5,861,777 | |
| 1,172,094 | 2.00%, 05/01/2051 | 867,489 | |
| 271,128 | 2.00%, 07/01/2051 | 200,871 | |
| 980,125 | 2.00%, 08/01/2051 | 737,377 | |
| 1,484,053 | 2.00%, 09/01/2051 | 1,100,491 | |
| 2,178,392 | 2.00%, 03/25/2052(4) | 276,353 | |
| 9,066,172 | 2.00%, 04/01/2052 | 6,681,685 | |
| 412,619 | 2.25%, 04/01/2033 | 314,620 | |
| 964,927 | 2.50%, 06/25/2045 | 701,510 | |
| 7,977 | 2.50%, 03/25/2046 | 6,990 | |
| 650,295 | 2.50%, 04/01/2050 | 503,469 | |
| 625,163 | 2.50%, 06/01/2050 | 484,378 | |
| 4,700,916 | 2.50%, 07/01/2050 | 3,680,967 | |
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT AGENCIES - 45.5% - (continued) | |||
| Mortgage-Backed Agencies - 45.5% - (continued) | |||
| Federal National Mortgage Association - 14.4% - (continued) | |||
| $ 977,350 | 2.50%, 09/01/2050 | $ 757,593 | |
| 1,594,265 | 2.50%, 10/01/2050 | 1,243,769 | |
| 1,731,308 | 2.50%, 12/01/2050 | 1,340,381 | |
| 388,927 | 2.50%, 01/01/2051 | 303,269 | |
| 2,658,779 | 2.50%, 02/01/2051 | 2,055,368 | |
| 1,637,964 | 2.50%, 02/25/2051(4) | 262,528 | |
| 8,576,783 | 2.50%, 05/01/2051 | 6,629,967 | |
| 1,498,434 | 2.50%, 06/01/2051 | 1,154,750 | |
| 814,941 | 2.50%, 07/01/2051 | 630,840 | |
| 374,489 | 2.50%, 08/01/2051 | 293,431 | |
| 547,565 | 2.50%, 09/01/2051 | 423,243 | |
| 7,969,365 | 2.50%, 10/01/2051 | 6,171,832 | |
| 7,724,433 | 2.50%, 11/01/2051 | 6,015,938 | |
| 2,385,911 | 2.50%, 12/01/2051 | 1,849,819 | |
| 932,065 | 2.50%, 01/01/2052 | 723,318 | |
| 1,322,024 | 2.50%, 03/01/2052 | 1,022,774 | |
| 520,472 | 2.50%, 04/01/2052 | 402,295 | |
| 2,201,114 | 2.50%, 06/25/2052(4) | 330,489 | |
| 1,328,441 | 2.50%, 09/25/2052(4) | 203,449 | |
| 1,231,461 | 2.50%, 01/01/2057 | 946,130 | |
| 640,263 | 3.00%, 04/25/2033(4) | 41,369 | |
| 185,903 | 3.00%, 08/01/2033 | 172,250 | |
| 1,234,262 | 3.00%, 06/01/2038 | 1,108,753 | |
| 474,696 | 3.00%, 11/25/2042 | 405,345 | |
| 4,743 | 3.00%, 02/25/2043 | 4,420 | |
| 924,522 | 3.00%, 03/25/2043 | 764,126 | |
| 1,123,133 | 3.00%, 05/25/2043 | 951,176 | |
| 1,199,523 | 3.00%, 11/25/2044 | 1,011,026 | |
| 999,401 | 3.00%, 01/25/2045 | 814,177 | |
| 71,550 | 3.00%, 01/25/2046 | 61,879 | |
| 959,139 | 3.00%, 02/25/2047 | 819,731 | |
| 339,797 | 3.00%, 08/25/2049 | 288,245 | |
| 118,878 | 3.00%, 12/01/2049 | 96,296 | |
| 401,115 | 3.00%, 02/01/2050 | 327,538 | |
| 1,687,645 | 3.00%, 07/01/2050 | 1,378,453 | |
| 1,577,565 | 3.00%, 08/01/2050 | 1,278,576 | |
| 638,290 | 3.00%, 10/01/2050 | 515,906 | |
| 2,590,095 | 3.00%, 12/01/2050 | 2,099,022 | |
| 828,314 | 3.00%, 05/01/2051 | 677,452 | |
| 194,449 | 3.00%, 06/01/2051 | 156,399 | |
| 1,664,782 | 3.00%, 07/01/2051 | 1,338,693 | |
| 376,683 | 3.00%, 08/01/2051 | 304,345 | |
| 1,368,195 | 3.00%, 09/01/2051 | 1,105,390 | |
| 2,277,646 | 3.00%, 10/01/2051 | 1,838,354 | |
| 2,114,274 | 3.00%, 11/01/2051 | 1,701,158 | |
| 1,188,371 | 3.00%, 12/01/2051 | 960,294 | |
| 542,341 | 3.00%, 01/01/2052 | 436,993 | |
| 1,797,405 | 3.00%, 01/25/2052(4) | 273,455 | |
| 686,106 | 3.00%, 04/01/2052 | 558,336 | |
| 836,607 | 3.00%, 05/01/2052 | 677,035 | |
| 1,422,330 | 3.50%, 07/25/2033(4) | 113,684 | |
| 547,233 | 3.50%, 08/25/2033(4) | 57,768 | |
| 350,049 | 3.50%, 04/25/2034(4) | 18,008 | |
| 974,621 | 3.50%, 05/01/2037 | 880,740 | |
| 653,594 | 3.50%, 11/25/2039(4) | 58,960 | |
| 484,366 | 3.50%, 10/01/2041 | 426,083 | |
| 3,869 | 3.50%, 05/25/2042 | 3,539 | |
| 1,167,689 | 3.50%, 11/25/2042 | 1,016,035 | |
| 80,519 | 3.50%, 07/25/2044 | 77,509 | |
| 228,667 | 3.50%, 12/01/2045 | 197,134 | |
| 202,097 | 3.50%, 01/01/2046 | 174,776 | |
| 151,566 | 3.50%, 03/01/2046 | 131,060 | |
| 761,166 | 3.50%, 12/01/2046 | 669,431 | |
| 255,685 | 3.50%, 05/01/2047 | 220,559 | |
| 2,029,001 | 3.50%, 09/01/2047 | 1,742,510 | |
| 1,930,508 | 3.50%, 12/01/2047 | 1,650,070 | |
| 62 |
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT AGENCIES - 45.5% - (continued) | |||
| Mortgage-Backed Agencies - 45.5% - (continued) | |||
| Federal National Mortgage Association - 14.4% - (continued) | |||
| $ 223,735 | 3.50%, 01/01/2048 | $ 190,770 | |
| 298,738 | 3.50%, 02/01/2048 | 255,085 | |
| 83,268 | 3.50%, 06/01/2048 | 70,965 | |
| 403,316 | 3.50%, 07/01/2048 | 347,241 | |
| 86,463 | 3.50%, 11/01/2048 | 73,904 | |
| 258,960 | 3.50%, 03/25/2049 | 232,679 | |
| 619,221 | 3.50%, 04/25/2049 | 560,969 | |
| 669,377 | 3.50%, 06/01/2049 | 576,383 | |
| 411,274 | 3.50%, 09/01/2050 | 349,684 | |
| 923,537 | 3.50%, 11/01/2051 | 775,055 | |
| 1,314,218 | 3.50%, 04/01/2052 | 1,106,978 | |
| 707,740 | 3.50%, 05/01/2056 | 583,712 | |
| 606,607 | 3.50%, 11/25/2057 | 544,464 | |
| 1,083,526 | 3.50%, 05/01/2058 | 893,626 | |
| 997,959 | 3.50%, 12/25/2058 | 829,661 | |
| 760,000 | 3.52%, 11/01/2032 | 648,359 | |
| 654,468 | 4.00%, 08/01/2038 | 611,480 | |
| 2,367 | 4.00%, 11/01/2040 | 2,119 | |
| 31,730 | 4.00%, 02/01/2041 | 28,419 | |
| 379,614 | 4.00%, 06/01/2041 | 343,708 | |
| 4,624 | 4.00%, 09/01/2041 | 4,140 | |
| 7,764 | 4.00%, 10/01/2041 | 6,952 | |
| 169,855 | 4.00%, 01/01/2042 | 151,694 | |
| 208,327 | 4.00%, 02/01/2042 | 186,090 | |
| 61,997 | 4.00%, 05/01/2042 | 55,251 | |
| 2,361 | 4.00%, 09/01/2042 | 2,105 | |
| 898,002 | 4.00%, 01/01/2043 | 802,795 | |
| 18,205 | 4.00%, 10/01/2043 | 16,301 | |
| 214,377 | 4.00%, 03/01/2046 | 190,359 | |
| 279,466 | 4.00%, 09/01/2047 | 246,980 | |
| 502,844 | 4.00%, 10/01/2047 | 445,233 | |
| 258,049 | 4.00%, 11/01/2047 | 228,296 | |
| 1,650,863 | 4.00%, 06/01/2048 | 1,461,074 | |
| 2,005,962 | 4.00%, 10/01/2048 | 1,772,813 | |
| 780,014 | 4.00%, 01/01/2049 | 688,843 | |
| 1,745,403 | 4.00%, 04/01/2049 | 1,526,293 | |
| 99,495 | 4.00%, 08/01/2049 | 88,366 | |
| 594,617 | 4.00%, 09/01/2049 | 524,145 | |
| 1,255,488 | 4.00%, 04/01/2050 | 1,105,386 | |
| 1,623,671 | 4.00%, 09/25/2050(4) | 315,095 | |
| 801,116 | 4.00%, 08/01/2051 | 706,030 | |
| 834,747 | 4.00%, 06/01/2052 | 724,741 | |
| 654,351 | 4.03%, 06/01/2028 | 614,135 | |
| 850,000 | 4.19%, 04/01/2028 | 804,393 | |
| 400,000 | 4.21%, 03/01/2033 | 359,100 | |
| 309,655 | 4.37%, 05/01/2028 | 295,054 | |
| 580,000 | 4.41%, 04/01/2030 | 542,743 | |
| 785,694 | 4.46%, 05/01/2028 | 751,791 | |
| 649,249 | 4.50%, 12/01/2037 | 619,241 | |
| 426,867 | 4.50%, 04/01/2048 | 389,206 | |
| 190,232 | 4.50%, 04/01/2049 | 173,276 | |
| 781,823 | 4.50%, 01/01/2051 | 713,497 | |
| 1,300,890 | 4.50%, 08/01/2052 | 1,164,234 | |
| 1,441,959 | 4.50%, 03/01/2053 | 1,290,536 | |
| 403,683 | 4.51%, 05/01/2033 | 371,912 | |
| 452,342 | 4.64%, 10/01/2033 | 417,354 | |
| 215,000 | 4.75%, 04/01/2028 | 208,636 | |
| 307,854 | 5.00%, 06/25/2048(4) | 53,005 | |
| 1,092,627 | 5.00%, 07/01/2052 | 1,011,260 | |
| 15,302,475 | 5.00%, 09/01/2052 | 14,127,054 | |
| 3,859,446 | 5.00%, 10/01/2052 | 3,562,701 | |
| 114,657 | 5.00%, 11/01/2052 | 105,801 | |
| 890,105 | 5.00%, 12/01/2052 | 821,408 | |
| 925,949 | 5.00%, 03/01/2053 | 854,394 | |
| 8,269,868 | 5.00%, 04/01/2053 | 7,631,750 | |
| 208,340 | 5.00%, 05/01/2053 | 192,265 | |
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT AGENCIES - 45.5% - (continued) | |||
| Mortgage-Backed Agencies - 45.5% - (continued) | |||
| Federal National Mortgage Association - 14.4% - (continued) | |||
| $ 330,450 | 5.50%, 04/25/2044(4) | $ 59,059 | |
| 809,580 | 5.50%, 10/01/2052 | 771,968 | |
| 1,485,050 | 5.50%, 11/01/2052 | 1,410,423 | |
| 2,625,027 | 5.50%, 12/01/2052 | 2,494,673 | |
| 1,435,582 | 5.50%, 06/01/2053 | 1,363,098 | |
| 1,689,689 | 5.50%, 07/01/2053 | 1,604,431 | |
| 865,724 | 6.00%, 05/01/2053 | 848,013 | |
| 3,085,000 | 8.57%, 09/25/2043, 30 day USD SOFR Average + 3.25%(1)(2) | 3,126,324 | |
| 177,027,606 | |||
| Government National Mortgage Association - 7.4% | |||
| 146,153 | 2.00%, 06/16/2042 | 128,421 | |
| 1,332,795 | 2.00%, 10/20/2050 | 1,036,055 | |
| 5,965,000 | 2.00%, 11/20/2053(12) | 4,607,030 | |
| 50,854 | 2.50%, 05/20/2040 | 48,069 | |
| 1,895,137 | 2.50%, 10/20/2049 | 1,549,294 | |
| 1,402,754 | 2.50%, 11/20/2049 | 1,124,880 | |
| 1,109,252 | 2.50%, 03/20/2051 | 885,078 | |
| 978,928 | 2.50%, 09/20/2051 | 781,071 | |
| 3,263,245 | 2.50%, 10/20/2051 | 2,603,476 | |
| 13,035,000 | 2.50%, 11/20/2053(12) | 10,387,253 | |
| 1,257,587 | 3.00%, 01/16/2044 | 1,059,114 | |
| 633,850 | 3.00%, 11/20/2045 | 508,210 | |
| 655,837 | 3.00%, 02/20/2047 | 551,650 | |
| 555,127 | 3.00%, 05/20/2049 | 477,181 | |
| 206,738 | 3.00%, 03/20/2050 | 172,406 | |
| 471,156 | 3.00%, 11/20/2050 | 391,953 | |
| 4,246,286 | 3.00%, 04/20/2051 | 3,523,245 | |
| 2,415,208 | 3.00%, 08/20/2051 | 2,000,970 | |
| 1,543,313 | 3.00%, 09/20/2051 | 1,276,534 | |
| 482,404 | 3.00%, 10/20/2051 | 399,043 | |
| 3,331,484 | 3.00%, 12/20/2051 | 2,758,380 | |
| 831,997 | 3.00%, 02/20/2052 | 715,506 | |
| 756,729 | 3.00%, 04/20/2052 | 625,073 | |
| 400,000 | 3.00%, 11/20/2053(12) | 330,187 | |
| 240,668 | 3.50%, 11/20/2042 | 206,948 | |
| 799,611 | 3.50%, 03/20/2044 | 696,712 | |
| 505,004 | 3.50%, 06/20/2046 | 439,084 | |
| 110,361 | 3.50%, 07/20/2046 | 95,613 | |
| 115,315 | 3.50%, 10/20/2046 | 99,852 | |
| 508,708 | 3.50%, 02/20/2047 | 440,248 | |
| 136,527 | 3.50%, 05/20/2047 | 118,595 | |
| 139,035 | 3.50%, 07/20/2047 | 120,293 | |
| 102,137 | 3.50%, 11/20/2047 | 88,267 | |
| 125,539 | 3.50%, 03/20/2048 | 108,463 | |
| 590,534 | 3.50%, 02/20/2049 | 510,044 | |
| 619,772 | 3.50%, 06/20/2050 | 534,629 | |
| 1,325,737 | 3.50%, 11/20/2052 | 1,104,679 | |
| 1,857,842 | 3.50%, 01/20/2053 | 1,584,752 | |
| 9,150,000 | 3.50%, 11/20/2053(12) | 7,801,090 | |
| 307,094 | 3.88%, 08/15/2042 | 278,888 | |
| 987,699 | 4.00%, 09/16/2042(4) | 197,324 | |
| 342,179 | 4.00%, 09/20/2042(4) | 45,310 | |
| 217,874 | 4.00%, 12/20/2044(4) | 40,602 | |
| 478,759 | 4.00%, 08/20/2045 | 433,459 | |
| 642,716 | 4.00%, 09/20/2047 | 575,321 | |
| 18,070 | 4.00%, 04/20/2048 | 16,195 | |
| 936,108 | 4.00%, 07/20/2048 | 840,108 | |
| 6,605,000 | 4.00%, 11/20/2053(12) | 5,809,255 | |
| 941,366 | 4.50%, 02/20/2040 | 875,494 | |
| 843,268 | 4.50%, 05/20/2041 | 783,625 | |
| 704,662 | 4.50%, 06/16/2043(4) | 140,751 | |
| 339,726 | 4.50%, 05/20/2045(4) | 67,054 | |
| 501,788 | 4.50%, 08/20/2045(4) | 91,657 | |
| 574,072 | 4.50%, 12/16/2046(4) | 84,497 | |
| 365,749 | 4.50%, 05/20/2048(4) | 55,851 | |
| 63 |
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT AGENCIES - 45.5% - (continued) | |||
| Mortgage-Backed Agencies - 45.5% - (continued) | |||
| Government National Mortgage Association - 7.4% - (continued) | |||
| $ 242,541 | 4.50%, 06/20/2048(4) | $ 44,430 | |
| 173,903 | 4.50%, 05/20/2052 | 157,538 | |
| 729,406 | 4.50%, 08/20/2052 | 660,283 | |
| 664,456 | 4.50%, 09/20/2052 | 601,337 | |
| 2,987,156 | 4.50%, 10/20/2052 | 2,701,543 | |
| 10,770,000 | 4.50%, 11/20/2053(12) | 9,735,188 | |
| 676,260 | 5.00%, 05/20/2040 | 651,864 | |
| 537,554 | 5.00%, 06/20/2040 | 518,165 | |
| 210,404 | 5.00%, 07/20/2040 | 202,819 | |
| 287,350 | 5.00%, 12/20/2043(4) | 58,094 | |
| 1,469,940 | 5.00%, 07/16/2044(4) | 272,484 | |
| 270,593 | 5.00%, 11/16/2046(4) | 44,472 | |
| 262,342 | 5.00%, 06/16/2047(4) | 46,144 | |
| 345,861 | 5.00%, 11/16/2047(4) | 62,822 | |
| 911,795 | 5.00%, 11/20/2049 | 858,754 | |
| 2,805,000 | 5.00%, 11/20/2053(12) | 2,610,451 | |
| 241,594 | 5.50%, 02/20/2044(4) | 39,701 | |
| 190,693 | 5.50%, 09/15/2045 | 188,841 | |
| 275,879 | 5.50%, 09/20/2045(4) | 60,410 | |
| 10,675,000 | 5.50%, 11/20/2053(12) | 10,219,125 | |
| 91,959,204 | |||
| Uniform Mortgage-Backed Security - 16.8% | |||
| 500,000 | 1.50%, 11/01/2053(12) | 347,578 | |
| 6,465,000 | 2.00%, 11/01/2038(12) | 5,469,481 | |
| 12,952,000 | 2.00%, 11/01/2053(12) | 9,519,720 | |
| 2,450,000 | 2.50%, 11/01/2038(12) | 2,133,988 | |
| 3,235,000 | 3.00%, 11/01/2038(12) | 2,889,765 | |
| 1,230,000 | 3.50%, 11/01/2038(12) | 1,123,127 | |
| 7,473,000 | 3.50%, 11/13/2053(12) | 6,232,949 | |
| 2,675,000 | 4.00%, 11/13/2053(12) | 2,313,542 | |
| 2,747,000 | 4.50%, 11/01/2038(12) | 2,599,993 | |
| 63,282,000 | 4.50%, 11/13/2053(12) | 56,576,285 | |
| 2,710,000 | 5.00%, 11/13/2053(12) | 2,499,386 | |
| 31,903,000 | 5.50%, 11/13/2053(12) | 30,280,128 | |
| 84,625,000 | 6.00%, 11/01/2053(12) | 82,358,654 | |
| 2,700,000 | 6.50%, 11/01/2053(12) | 2,684,139 | |
| 207,028,735 | |||
| Total U.S. Government Agencies (cost $600,068,685) | $ 560,916,476 | ||
| U.S. GOVERNMENT SECURITIES - 22.4% | |||
| U.S. Treasury Securities - 22.4% | |||
| U.S. Treasury Bonds - 11.2% | |||
| 35,940,000 | 1.25%, 05/15/2050 | $ 15,963,818 | |
| 19,520,000 | 1.63%, 11/15/2050 | 9,647,150 | |
| 5,795,000 | 2.50%, 02/15/2045 | 3,763,807 | |
| 8,585,000 | 2.75%, 11/15/2042 | 6,015,872 | |
| 3,895,000 | 2.88%, 08/15/2045 | 2,699,874 | |
| 56,000 | 2.88%, 05/15/2052 | 37,667 | |
| 3,325,000 | 3.00%, 11/15/2045 | 2,352,567 | |
| 1,395,000 | 3.00%, 02/15/2048 | 970,233 | |
| 19,100,000 | 3.00%, 08/15/2052 | 13,203,621 | |
| 3,365,000 | 3.13%, 02/15/2043 | 2,502,982 | |
| 2,645,000 | 3.13%, 08/15/2044 | 1,937,463 | |
| 1,390,000 | 3.13%, 05/15/2048 | 989,669 | |
| 25,825,000 | 3.38%, 08/15/2042 | 20,089,025 | |
| 6,010,000 | 3.38%, 05/15/2044 | 4,600,233 | |
| 30,225,000 | 3.38%, 11/15/2048 | 22,537,696 | |
| 8,720,000 | 3.63%, 08/15/2043 | 6,994,734 | |
| 8,845,000 | 3.63%, 02/15/2044(13) | 7,063,216 | |
| 21,465,000 | 3.63%, 05/15/2053 | 16,863,441 | |
| 138,233,068 | |||
| Shares or Principal Amount | Market Value† | ||
| U.S. GOVERNMENT SECURITIES - 22.4% - (continued) | |||
| U.S. Treasury Securities - 22.4% - (continued) | |||
| U.S. Treasury Inflation-Protected Bonds - 0.9% | |||
| $ 1,222,972 | 0.13%, 02/15/2052(14) | $ 639,050 | |
| 18,776,279 | 0.25%, 02/15/2050(14) | 10,516,550 | |
| 11,155,600 | |||
| U.S. Treasury Inflation-Protected Notes - 2.0% | |||
| 16,561,656 | 0.25%, 07/15/2029(14) | 14,667,417 | |
| 5,399,369 | 0.75%, 07/15/2028(14) | 4,998,740 | |
| 3,519,625 | 0.88%, 01/15/2029(14) | 3,243,073 | |
| 1,971,021 | 1.38%, 07/15/2033(14) | 1,787,739 | |
| 24,696,969 | |||
| U.S. Treasury Notes - 8.3% | |||
| 22,170,000 | 0.75%, 05/31/2026 | 19,935,680 | |
| 16,965,000 | 1.38%, 11/15/2031(15) | 13,049,796 | |
| 17,865,000 | 2.75%, 08/15/2032 | 15,147,566 | |
| 4,425,000 | 3.50%, 04/30/2028 | 4,188,712 | |
| 20,110,000 | 3.50%, 02/15/2033 | 18,045,583 | |
| 13,740,000 | 3.63%, 05/31/2028 | 13,071,248 | |
| 5,050,000 | 3.75%, 06/30/2030 | 4,720,961 | |
| 7,705,000 | 3.88%, 08/15/2033 | 7,109,066 | |
| 6,765,000 | 4.00%, 10/31/2029 | 6,448,684 | |
| 101,717,296 | |||
| Total U.S. Government Securities (cost $337,137,185) | $ 275,802,933 | ||
| Total Long-Term Investments (cost $1,650,511,737) | $ 1,483,901,979 | ||
| SHORT-TERM INVESTMENTS - 0.4% | |||
| Repurchase Agreements - 0.2% | |||
| 2,644,635 | Fixed Income Clearing Corp. Repurchase Agreement dated 10/31/2023 at 5.28%, due on 11/01/2023 with a maturity value of $2,645,023; collateralized by U.S. Treasury Note at 0.75%, maturing 03/31/2026, with a market value of $2,697,581 | $ 2,644,635 | |
| Securities Lending Collateral - 0.2% | |||
| 237,179 | Goldman Sachs Financial Square Funds, Government Fund, Institutional Class, 5.26%(16) | 237,179 | |
| 790,598 | HSBC U.S. Government Money Market Fund, Institutional Class, 5.29%(16) | 790,598 | |
| 237,179 | Invesco Government & Agency Portfolio, Institutional Class, 5.28%(16) | 237,179 | |
| 237,179 | Morgan Stanley Institutional Liquidity Funds, Government Portfolio, Institutional Class, 5.26%(16) | 237,179 | |
| 1,502,135 | |||
| Total Short-Term Investments (cost $4,146,770) | $ 4,146,770 | ||
| Total Investments (cost $1,654,658,507) | 120.9% | $ 1,488,048,749 | |
| Other Assets and Liabilities | (20.9)% | (256,925,459) | |
| Total Net Assets | 100.0% | $ 1,231,123,290 | |
| Note: | Percentage of investments as shown is the ratio of the total market value to total net assets. |
| The Fund may refer to any one or more of the industry classifications used by one or more widely recognized market indices, ratings group and/or as defined by Fund management. Industry classifications may not be identical across all security types. |
| 64 |
| (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, 2023, the aggregate value of these securities was $362,419,617, representing 29.4% of net assets. |
| (2) | Variable rate securities; the rate reported is the coupon rate in effect at October 31, 2023. Base lending rates may be subject to a floor or cap. |
| (3) | Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| (4) | Securities disclosed are interest-only strips. |
| (5) | Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate. |
| (6) | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at October 31, 2023. Rate will reset at a future date. Base lending rates may be subject to a floor or cap. |
| (7) | 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, 2023, the aggregate value of these securities was $18,841,045, representing 1.5% of net assets. |
| (8) | Represents entire or partial securities on loan. |
| (9) | Non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal. |
| (10) | Security disclosed is principal-only strips. |
| (11) | Security is a zero-coupon bond. |
| (12) | Represents or includes a TBA transaction. |
| (13) | All, or a portion of the security, was pledged as collateral in connection with futures contracts. As of October 31, 2023, the market value of securities pledged was $2,874,797. |
| (14) | The principal amount for these securities are adjusted for inflation and the interest payments equal a fixed percentage of the inflation-adjusted principal amount. |
| (15) | All, or a portion of the security, was pledged as collateral in connection with centrally cleared swap contracts. As of October 31, 2023, the market value of securities pledged was $3,392,255. |
| (16) | Current yield as of period end. |
| Futures Contracts Outstanding at October 31, 2023 | ||||||||
| Description | Number of Contracts | Expiration Date | Current Notional Amount | Value and Unrealized Appreciation/ (Depreciation) | ||||
| Long position contracts: | ||||||||
| Euro-BUND Future | 31 | 12/07/2023 | $ 4,226,615 | $ (77,358) | ||||
| Long Gilt Future | 49 | 12/27/2023 | 5,539,202 | (89,786) | ||||
| U.S. Treasury 2-Year Note Future | 688 | 12/29/2023 | 139,266,251 | (213,506) | ||||
| U.S. Treasury 5-Year Note Future | 1,517 | 12/29/2023 | 158,490,946 | (1,182,919) | ||||
| Total | $ (1,563,569) | |||||||
| Short position contracts: | ||||||||
| Euro BUXL 30-Year Bond Future | 76 | 12/07/2023 | $ 9,673,577 | $ 824,728 | ||||
| Euro-BTP Future | 132 | 12/07/2023 | 15,378,332 | 515,477 | ||||
| U.S. Treasury 10-Year Note Future | 1,225 | 12/19/2023 | 130,060,547 | 1,304,581 | ||||
| U.S. Treasury 10-Year Ultra Future | 41 | 12/19/2023 | 4,461,953 | 146,561 | ||||
| U.S. Treasury Long Bond Future | 22 | 12/19/2023 | 2,407,625 | 235,545 | ||||
| U.S. Treasury Ultra Bond Future | 75 | 12/19/2023 | 8,442,188 | 1,013,490 | ||||
| Total | $ 4,040,382 | |||||||
| Total futures contracts | $ 2,476,813 | |||||||
| TBA Sale Commitments Outstanding at October 31, 2023 | ||||||||
| Description | Principal Amount | Maturity Date | Market Value† | Unrealized Appreciation/ (Depreciation) | ||||
| Uniform Mortgage-Backed Security, 2.50% | $ 8,864,000 | 11/01/2053 | $ (6,803,804) | $ (24,930) | ||||
| Uniform Mortgage-Backed Security, 3.00% | 3,553,000 | 11/01/2053 | (2,846,286) | 49,825 | ||||
| Uniform Mortgage-Backed Security, 4.00% | 7,474,000 | 11/01/2053 | (6,464,079) | 84,662 | ||||
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| TBA Sale Commitments Outstanding at October 31, 2023 – (continued) | ||||||||
| Description | Principal Amount | Maturity Date | Market Value† | Unrealized Appreciation/ (Depreciation) | ||||
| Uniform Mortgage-Backed Security, 4.50% | $ 3,070,000 | 11/15/2038 | $ (2,905,707) | $ (23,984) | ||||
| Uniform Mortgage-Backed Security, 5.00% | 13,520,000 | 11/01/2053 | (12,469,260) | 171,318 | ||||
| Total TBA sale commitments (proceeds receivable $31,746,027) | $ (31,489,136) | $ 256,891 | ||||||
| At October 31, 2023, the aggregate market value of TBA Sale Commitments represents (2.6)% of total net assets. | ||||||||
| Centrally Cleared Credit Default Swap Contracts Outstanding at October 31, 2023 | |||||||||||||||||
| 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.S40.V1 | USD | 9,835,000 | (1.00%) | 12/20/2028 | Quarterly | $ 483,203 | $ — | $ 525,744 | $ 42,541 | ||||||||
| Sell protection: | |||||||||||||||||
| CDX.NA.HY.S41.V1 | USD | 8,595,000 | 5.00% | 12/20/2028 | Quarterly | $ 20,507 | $ — | $ 10,510 | $ (9,997) | ||||||||
| Credit default swaps on single-name issues: | |||||||||||||||||
| Buy protection: | |||||||||||||||||
| Brazil Republic | USD | 5,700,000 | (1.00%) | 06/20/2028 | Quarterly | $ 268,852 | $ — | $ 141,064 | $ (127,788) | ||||||||
| Total | $ 268,852 | $ — | $ 141,064 | $ (127,788) | |||||||||||||
| Total centrally cleared credit default swap contracts | $ 772,562 | $ — | $ 677,318 | $ (95,244) | |||||||||||||
| (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, 2023 | |||||||||||||||||
| 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) | |||||||||
| 2.97% Fixed | 12 Mo. USD SOFR | USD | 5,185,000 | 03/15/2053 | Annual | $ 3,075 | $ — | $ 1,212,242 | $ 1,209,167 | ||||||||
| 2.88% Fixed | 12 Mo. USD SOFR | USD | 4,030,000 | 03/15/2053 | Annual | 45,998 | — | 1,004,858 | 958,860 | ||||||||
| 3.25% Fixed | 12 Mo. USD SOFR | USD | 3,735,000 | 06/21/2053 | Annual | — | (36,846) | 679,180 | 716,026 | ||||||||
| 3.59% Fixed | 12 Mo. USD SOFR | USD | 8,150,000 | 09/20/2053 | Annual | 38,051 | — | 981,270 | 943,219 | ||||||||
| Total centrally cleared interest rate swaps contracts | $ 87,124 | $ (36,846) | $ 3,877,550 | $ 3,827,272 | |||||||||||||
| Foreign Currency Contracts Outstanding at October 31, 2023 | ||||||||||
| Amount and Description of Currency to be Purchased | Amount and Description of Currency to be Sold | Counterparty | Settlement Date | Appreciation/ (Depreciation) | ||||||
| 4,704,276 | USD | 23,599,000 | BRL | MSC | 12/20/2023 | $ 52,149 | ||||
| 19,244,575 | USD | 17,891,000 | EUR | DEUT | 12/20/2023 | 288,063 | ||||
| 878,759 | USD | 820,000 | EUR | JPM | 12/20/2023 | 9,923 | ||||
| 615,433 | USD | 572,000 | EUR | BOM | 12/20/2023 | 9,366 | ||||
| 376,556 | USD | 350,000 | EUR | MSC | 12/20/2023 | 5,712 | ||||
| 116,405 | USD | 108,000 | EUR | ANZ | 12/20/2023 | 1,974 | ||||
| 337,212 | USD | 320,000 | EUR | SCB | 12/20/2023 | (1,846) | ||||
| Total foreign currency contracts | $ 365,341 | |||||||||
| 66 |
| Description | Total | Level 1 | Level 2 | Level 3(1) | ||||
| Assets | ||||||||
| Asset & Commercial Mortgage-Backed Securities | $ 267,960,222 | $ — | $ 267,960,222 | $ — | ||||
| Corporate Bonds | 337,732,882 | — | 337,732,882 | — | ||||
| Foreign Government Obligations | 29,545,610 | — | 29,545,610 | — | ||||
| Municipal Bonds | 11,943,856 | — | 11,943,856 | — | ||||
| U.S. Government Agencies | 560,916,476 | — | 560,916,476 | — | ||||
| U.S. Government Securities | 275,802,933 | — | 275,802,933 | — | ||||
| Short-Term Investments | 4,146,770 | 1,502,135 | 2,644,635 | — | ||||
| Foreign Currency Contracts(2) | 367,187 | — | 367,187 | — | ||||
| Futures Contracts(2) | 4,040,382 | 4,040,382 | — | — | ||||
| Swaps - Credit Default(2) | 42,541 | — | 42,541 | — | ||||
| Swaps - Interest Rate(2) | 3,827,272 | — | 3,827,272 | — | ||||
| Total | $ 1,496,326,131 | $ 5,542,517 | $ 1,490,783,614 | $ — | ||||
| Liabilities | ||||||||
| Foreign Currency Contracts(2) | $ (1,846) | $ — | $ (1,846) | $ — | ||||
| Futures Contracts(2) | (1,563,569) | (1,563,569) | — | — | ||||
| Swaps - Credit Default(2) | (137,785) | — | (137,785) | — | ||||
| TBA Sale Commitments | (31,489,136) | — | (31,489,136) | — | ||||
| Total | $ (33,192,336) | $ (1,563,569) | $ (31,628,767) | $ — |
| (1) | For the period ended October 31, 2023, 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. |
| 67 |
| Counterparty Abbreviations: | |
| ANZ | Australia and New Zealand Banking Group |
| BCLY | Barclays |
| BOA | Bank of America Securities LLC |
| CIB | Credit Agricole |
| DEUT | Deutsche Bank Securities, Inc. |
| GSC | Goldman Sachs & Co. |
| JPM | JP Morgan Chase & Co. |
| MSC | Morgan Stanley |
| SCB | Standard Chartered Bank |
| SSG | State Street Global Markets LLC |
| TDB | Toronto-Dominion Bank |
| UBS | UBS AG |
| Currency Abbreviations: | |
| AUD | Australia Dollar |
| BRL | Brazil Real |
| CAD | Canadian Dollar |
| CLP | Chile Peso |
| CNY | China Yuan Renminbi |
| COP | Colombia Peso |
| CZK | Czech Republic Koruna |
| EUR | Euro Member Countries |
| GBP | British Pound |
| HUF | Hungary Forint |
| IDR | Indonesia Rupiah |
| INR | Indian Rupee |
| JPY | Japan Yen |
| KZT | Kazakhstan Tenge |
| MXN | Mexican Peso |
| PLN | Poland Zloty |
| 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 |
| CDX.NA.IG | Credit Derivatives North American Investment Grade |
| CMT | Constant Maturity Treasury Index |
| ICE | Intercontinental Exchange, Inc. |
| ITRAXX-XOVERS | iTraxx Europe Crossover Seriese |
| Municipal Abbreviations: | |
| Auth | Authority |
| COP | Certificate of Participation |
| Dev | Development |
| Dist | District |
| Facs | Facilities |
| GO | General Obligation |
| Redev | Redevelopment |
| Rev | Revenue |
| Other Abbreviations: | |
| ADR | American Depositary Receipt |
| AGC | Assured Guarantee Corp. |
| AGM | Assured Guaranty Municipal |
| AMBAC | American Municipal Bond Assurance Co. |
| ARM | Adjustable Rate Mortgage |
| BAM | Build America Mutual Assurance Corp. |
| CLO | Collateralized Loan Obligation |
| CMO | Collateralized Mortgage Obligation |
| COLL | Collateral |
| CR | Custodial Receipts |
| ETF | Exchange-Traded Fund |
| EURIBOR | Euro Interbank Offered Rate |
| FHA | Federal Housing Authority |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| HUD | Housing and Urban Development |
| LME | London Metal Exchange |
| NATL | National Public Finance Guarantee Corp. |
| Nyrt | New York REIT Inc |
| PSF-GTD | Permanent School Fund Guaranteed |
| Q-SBLF | Qualified School Bond Loan Fund |
| RBOB | Reformulated Blendstock for Oxygenate Blending |
| SD CRED PROG | School District Credit Enhancement Program |
| SIFMA | Securities Industry and Financial Markets Association |
| SOFR | Secured Overnight Financing Rate |
| ST APPROP | State Appropriation |
| ST INTERCEPT | State Intercept Program |
| TBA | To Be Announced |
| ULSD | Ultra-Low Sulfur Diesel |
| WTI | West Texas Intermediate |
| 68 |