|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.4%
|
|||
|
|
Asset-Backed - Finance & Insurance - 5.1%
|
||
|
$ 500,000
|
AGL CLO 21 Ltd. Series 2022-21A, 5.32%,
10/21/2037, 3 mo. USD Term SOFR +
1.65%(1)(2)
|
$499,741
|
|
|
1,050,000
|
Barings CLO Ltd. Series 2024-1A, 5.28%,
01/20/2039, 3 mo. USD Term SOFR +
1.60%(1)(2)
|
1,050,973
|
|
|
490,000
|
CBAM Ltd. Series 2017-1A, 5.48%, 01/20/2038,
3 mo. USD Term SOFR + 1.80%(1)(2)
|
492,261
|
|
|
500,000
|
CIFC Funding Ltd. Series 2014-2RA, 5.42%,
10/24/2037, 3 mo. USD Term SOFR +
1.75%(1)(2)
|
500,320
|
|
|
300,000
|
Elmwood CLO 20 Ltd. Series 2022-7A, 4.83%,
01/20/2039, 3 mo. USD Term SOFR +
1.20%(1)(2)
|
299,889
|
|
|
250,000
|
GoldenTree Loan Management U.S. CLO 19 Ltd.
Series 2024-19A, 4.83%, 07/20/2039, 3 mo.
USD Term SOFR + 1.15%(1)(2)
|
249,996
|
|
|
1,000,000
|
Magnetite LII Ltd. Series 2025-52A, 5.17%,
01/25/2039, 3 mo. USD Term SOFR +
1.52%(1)(2)
|
999,300
|
|
|
1,000,000
|
Sixth Street CLO XXIV Ltd. Series 2024-24A,
4.92%, 04/23/2037, 3 mo. USD Term SOFR +
1.24%(1)(2)
|
1,000,815
|
|
|
|
|
|
5,093,295
|
|
|
Other Asset-Backed Securities - 94.3%
|
||
|
1,600,000
|
522 Funding CLO A Ltd. Series 2017-1A, 5.12%,
10/20/2034, 3 mo. USD Term SOFR +
1.44%(1)(2)
|
1,600,622
|
|
|
1,000,000
|
720 East CLO IV Ltd. Series 2024-1A, 5.27%,
04/15/2037, 3 mo. USD Term SOFR +
1.60%(1)(2)
|
1,000,965
|
|
|
|
720 East CLO Ltd.
|
|
|
|
420,000
|
Series 2023-IA, 5.04%, 04/15/2038, 3 mo.
USD Term SOFR + 1.37%(1)(2)
|
420,584
|
|
|
1,000,000
|
Series 2023-2A, 5.12%, 10/15/2038, 3 mo.
USD Term SOFR + 1.45%(1)(2)
|
995,563
|
|
|
880,000
|
720 East CLO VI Ltd. Series 2024-3A, 5.04%,
01/20/2038, 3 mo. USD Term SOFR +
1.36%(1)(2)
|
880,921
|
|
|
2,000,000
|
AGL CLO 3 Ltd. Series 2020-3A, 4.82%,
04/15/2038, 3 mo. USD Term SOFR +
1.15%(1)(2)
|
1,993,240
|
|
|
1,000,000
|
AGL CLO 33 Ltd. Series 2024-33A, 5.02%,
07/21/2037, 3 mo. USD Term SOFR +
1.35%(1)(2)
|
1,000,755
|
|
|
|
AIMCO CLO
|
|
|
|
1,000,000
|
Series 2017-AA, 4.82%, 01/20/2038, 3 mo.
USD Term SOFR + 1.14%(1)(2)
|
999,278
|
|
|
375,000
|
Series 2018-AA, 4.99%, 10/17/2037, 3 mo.
USD Term SOFR + 1.31%(1)(2)
|
375,157
|
|
|
400,000
|
Allegany Park CLO Ltd. Series 2019-1A, 4.78%,
01/20/2035, 3 mo. USD Term SOFR +
1.10%(1)(2)
|
399,727
|
|
|
1,000,000
|
Apidos CLO Ltd. Series 2024-50A, 5.02%,
01/20/2038, 3 mo. USD Term SOFR +
1.34%(1)(2)
|
1,000,736
|
|
|
675,000
|
Apidos CLO XLVI Ltd. Series 2023-46A, 5.07%,
10/24/2038, 3 mo. USD Term SOFR +
1.40%(1)(2)
|
674,151
|
|
|
600,000
|
Apidos CLO XXVIII Ltd. Series 2017-28A, 5.33%,
10/20/2038, 3 mo. USD Term SOFR +
1.65%(1)(2)
|
601,644
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.4% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 94.3% - (continued)
|
||
|
$ 1,000,000
|
Apidos CLO XXXIX Ltd. Series 2022-39A, 4.90%,
10/21/2038, 3 mo. USD Term SOFR +
1.23%(1)(2)
|
$1,001,149
|
|
|
|
Ares LXIII CLO Ltd.
|
|
|
|
650,000
|
Series 2022-63A, 4.98%, 10/15/2038, 3 mo.
USD Term SOFR + 1.31%(1)(2)
|
652,107
|
|
|
550,000
|
Series 2022-63A, 5.27%, 10/15/2038, 3 mo.
USD Term SOFR + 1.60%(1)(2)
|
549,849
|
|
|
|
Ares XLIII CLO Ltd.
|
|
|
|
500,000
|
Series 2017-43A, 5.02%, 01/15/2038, 3 mo.
USD Term SOFR + 1.35%(1)(2)
|
501,095
|
|
|
450,000
|
Series 2017-43A, 5.62%, 01/15/2038, 3 mo.
USD Term SOFR + 1.95%(1)(2)
|
450,535
|
|
|
3,750,000
|
Ares XXVII CLO Ltd. Series 2013-2A, 4.82%,
10/28/2034, 3 mo. USD Term SOFR +
1.15%(1)(2)
|
3,750,360
|
|
|
|
Bain Capital Credit CLO Ltd.
|
|
|
|
1,049,953
|
Series 2019-2A, 4.60%, 10/17/2032, 3 mo.
USD Term SOFR + 0.92%(1)(2)
|
1,049,343
|
|
|
1,350,000
|
Series 2023-1A, 5.08%, 07/16/2038, 3 mo.
USD Term SOFR + 1.40%(1)(2)
|
1,353,330
|
|
|
675,000
|
Ballyrock CLO 15 Ltd. Series 2021-1A, 5.52%,
01/15/2038, 3 mo. USD Term SOFR +
1.85%(1)(2)
|
674,547
|
|
|
1,000,000
|
Ballyrock CLO 16 Ltd. Series 2021-16A, 4.83%,
04/20/2038, 3 mo. USD Term SOFR +
1.15%(1)(2)
|
998,786
|
|
|
600,000
|
Ballyrock CLO 21 Ltd. Series 2022-21A, 5.24%,
10/20/2037, 3 mo. USD Term SOFR +
1.56%(1)(2)
|
600,335
|
|
|
1,000,000
|
Ballyrock CLO Ltd. Series 2021-17A, 5.18%,
10/20/2038, 3 mo. USD Term SOFR +
1.50%(1)(2)
|
1,000,329
|
|
|
|
Barings CLO Ltd.
|
|
|
|
500,000
|
Series 2020-1A, 4.93%, 01/15/2038, 3 mo.
USD Term SOFR + 1.26%(1)(2)
|
500,776
|
|
|
1,000,000
|
Series 2019-2A, 5.02%, 01/15/2038, 3 mo.
USD Term SOFR + 1.35%(1)(2)
|
1,001,551
|
|
|
850,000
|
Series 2020-4A, 5.05%, 10/20/2037, 3 mo.
USD Term SOFR + 1.37%(1)(2)
|
850,965
|
|
|
1,195,000
|
Benefit Street Partners CLO IV Ltd. Series
2014-IVA, 4.93%, 10/20/2038, 3 mo. USD
Term SOFR + 1.25%(1)(2)
|
1,194,682
|
|
|
2,000,000
|
Benefit Street Partners CLO XV Ltd. Series
2018-15A, 5.06%, 07/15/2037, 3 mo. USD
Term SOFR + 1.39%(1)(2)
|
2,003,264
|
|
|
500,000
|
Benefit Street Partners CLO XXXVIII Ltd. Series
2024-38A, 4.98%, 01/25/2038, 3 mo. USD
Term SOFR + 1.31%(1)(2)
|
500,884
|
|
|
833,441
|
Blackrock DLF IX-L CLO LP Series 2023-2A,
6.06%, 10/20/2033, 3 mo. USD Term SOFR +
2.38%(1)(2)
|
834,434
|
|
|
650,000
|
Carlyle Global Market Strategies CLO Ltd. Series
2016-3A, 5.48%, 07/20/2034, 3 mo. USD Term
SOFR + 1.80%(1)(2)
|
647,694
|
|
|
|
Carlyle U.S. CLO Ltd.
|
|
|
|
1,000,000
|
Series 2021-6A, 4.96%, 01/15/2038, 3 mo.
USD Term SOFR + 1.29%(1)(2)
|
1,001,093
|
|
|
500,000
|
Series 2021-1A, 5.67%, 01/15/2040, 3 mo.
USD Term SOFR + 2.00%(1)(2)
|
500,274
|
|
|
|
CIFC Funding Ltd.
|
|
|
|
500,000
|
Series 2023-3A, 4.86%, 01/20/2039, 3 mo.
USD Term SOFR + 1.20%(1)(2)
|
500,223
|
|
|
|
1
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.4% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 94.3% - (continued)
|
||
|
$ 1,000,000
|
Series 2019-4A, 4.97%, 07/15/2038, 3 mo.
USD Term SOFR + 1.30%(1)(2)
|
$1,000,887
|
|
|
1,100,000
|
Series 2021-3A, 5.12%, 10/15/2038, 3 mo.
USD Term SOFR + 1.45%(1)(2)
|
1,100,521
|
|
|
825,000
|
Series 2019-6A, 5.13%, 07/16/2037, 3 mo.
USD Term SOFR + 1.45%(1)(2)
|
826,469
|
|
|
1,000,000
|
Series 2018-2A, 5.28%, 10/20/2037, 3 mo.
USD Term SOFR + 1.60%(1)(2)
|
1,001,132
|
|
|
250,000
|
Series 2021-4A, 5.57%, 07/23/2037, 3 mo.
USD Term SOFR + 1.90%(1)(2)
|
249,830
|
|
|
1,000,000
|
CTM CLO Ltd. Series 2025-1A, 5.17%,
07/15/2038, 3 mo. USD Term SOFR +
1.50%(1)(2)
|
1,002,957
|
|
|
1,000,000
|
Danby Park CLO Ltd. Series 2022-1A, 5.03%,
10/21/2037, 3 mo. USD Term SOFR +
1.36%(1)(2)
|
1,001,687
|
|
|
250,000
|
Dryden 53 CLO Ltd. Series 2017-53A, 4.97%,
01/15/2031, 3 mo. USD Term SOFR +
1.30%(1)(2)
|
249,778
|
|
|
1,000,000
|
Dryden 94 CLO Ltd. Series 2022-94A, 5.03%,
10/15/2037, 3 mo. USD Term SOFR +
1.36%(1)(2)
|
1,002,027
|
|
|
1,000,000
|
Elmwood CLO 14 Ltd. Series 2022-1A, 4.98%,
10/20/2038, 3 mo. USD Term SOFR +
1.30%(1)(2)
|
1,002,153
|
|
|
1,000,000
|
Elmwood CLO 15 Ltd. Series 2022-2A, 4.81%,
04/22/2035, 3 mo. USD Term SOFR +
1.15%(1)(2)
|
1,000,323
|
|
|
1,000,000
|
Elmwood CLO 19 Ltd. Series 2022-6A, 4.92%,
10/17/2038, 3 mo. USD Term SOFR +
1.24%(1)(2)
|
1,001,451
|
|
|
1,000,000
|
Elmwood CLO II Ltd. Series 2019-2A, 5.03%,
10/20/2037, 3 mo. USD Term SOFR +
1.35%(1)(2)
|
1,001,379
|
|
|
1,000,000
|
Elmwood CLO X Ltd. Series 2021-3A, 4.98%,
07/20/2038, 3 mo. USD Term SOFR +
1.30%(1)(2)
|
1,000,895
|
|
|
1,000,000
|
Empower CLO Ltd. Series 2024-1A, 5.27%,
04/25/2037, 3 mo. USD Term SOFR +
1.60%(1)(2)
|
1,000,600
|
|
|
550,000
|
Flatiron CLO 20 Ltd. Series 2020-1A, 5.11%,
11/20/2038, 3 mo. USD Term SOFR +
1.45%(1)(2)
|
550,167
|
|
|
1,000,000
|
Flatiron RR CLO Ltd. Series 2024-3A, 5.04%,
10/18/2037, 3 mo. USD Term SOFR +
1.36%(1)(2)
|
1,001,406
|
|
|
440,000
|
Franklin Park Place CLO VI LLC Series 2025-1A,
5.67%, 07/15/2038, 3 mo. USD Term SOFR +
2.00%(1)(2)
|
440,278
|
|
|
500,000
|
Galaxy XXV CLO Ltd. Series 2018-25A, 4.78%,
04/25/2036, 3 mo. USD Term SOFR +
1.11%(1)(2)
|
499,537
|
|
|
500,000
|
Kennedy Lewis CLO 8 Ltd. Series 8A, 5.78%,
01/20/2038, 3 mo. USD Term SOFR +
2.10%(1)(2)
|
500,185
|
|
|
1,000,000
|
Kennedy Lewis CLO 9 Ltd. Series 9A, 5.03%,
01/20/2038, 3 mo. USD Term SOFR +
1.35%(1)(2)
|
1,000,808
|
|
|
320,000
|
Kennedy Lewis CLO 10 Ltd. Series 2022-10A,
5.46%, 01/22/2038, 3 mo. USD Term SOFR +
1.80%(1)(2)
|
320,388
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.4% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 94.3% - (continued)
|
||
|
$ 1,000,000
|
GoldenTree Loan Management U.S. CLO 15 Ltd.
Series 2022-15A, 5.11%, 10/20/2038, 3 mo.
USD Term SOFR + 1.43%(1)(2)
|
$1,000,483
|
|
|
900,000
|
GoldenTree Loan Management U.S. CLO 16 Ltd.
Series 2022-16A, 4.80%, 01/20/2038, 3 mo.
USD Term SOFR + 1.12%(1)(2)
|
898,933
|
|
|
500,000
|
GoldenTree Loan Management U.S. CLO 24 Ltd.
Series 2025-24A, 4.83%, 10/20/2038, 3 mo.
USD Term SOFR + 1.15%(1)(2)
|
498,916
|
|
|
300,000
|
Golub Capital Partners CLO 45M Ltd. Series
2019-45A, 5.30%, 07/20/2037, 3 mo. USD
Term SOFR + 1.62%(1)(2)
|
298,876
|
|
|
|
HLEND CLO LLC
|
|
|
|
1,000,000
|
Series 2023-1A, 5.10%, 10/22/2038, 3 mo.
USD Term SOFR + 1.44%(1)(2)
|
999,467
|
|
|
520,000
|
Series 2025-3A, 5.38%, 01/20/2037, 3 mo.
USD Term SOFR + 1.70%(1)(2)
|
516,304
|
|
|
1,075,000
|
Kings Park CLO Ltd. Series 2021-1A, 4.87%,
01/21/2039, 3 mo. USD Term SOFR +
1.20%(1)(2)
|
1,075,599
|
|
|
2,000,000
|
KKR CLO 52 Ltd. Series 2023-52A, 5.00%,
07/16/2038, 3 mo. USD Term SOFR +
1.32%(1)(2)
|
2,003,672
|
|
|
550,000
|
Madison Park Funding LI Ltd. Series 2021-51A,
5.13%, 10/19/2038, 3 mo. USD Term SOFR +
1.45%(1)(2)
|
550,082
|
|
|
1,020,000
|
Madison Park Funding LXXV Ltd. Series
2025-75A, 5.11%, 01/17/2039, 3 mo. USD
Term SOFR + 1.45%(1)(2)
|
1,020,415
|
|
|
675,000
|
Madison Park Funding XVII Ltd. Series
2015-17A, 5.72%, 10/21/2037, 3 mo. USD
Term SOFR + 2.05%(1)(2)
|
674,874
|
|
|
1,000,000
|
Madison Park Funding XXXVII Ltd. Series
2019-37A, 5.20%, 04/15/2037, 3 mo. USD
Term SOFR + 1.53%(1)(2)
|
1,000,304
|
|
|
1,000,000
|
Magnetite XXVIII Ltd. Series 2020-28A, 4.91%,
01/15/2038, 3 mo. USD Term SOFR +
1.24%(1)(2)
|
1,000,182
|
|
|
250,000
|
Magnetite XXXVII Ltd. Series 2023-37A, 4.87%,
10/25/2038, 3 mo. USD Term SOFR +
1.20%(1)(2)
|
249,683
|
|
|
1,000,000
|
Neuberger Berman CLO XVI-S Ltd. Series
2017-16SA, 4.85%, 04/15/2039, 3 mo. USD
Term SOFR + 1.18%(1)(2)
|
999,728
|
|
|
1,000,000
|
Neuberger Berman Loan Advisers CLO 31 Ltd.
Series 2019-31A, 4.91%, 01/20/2039, 3 mo.
USD Term SOFR + 1.23%(1)(2)
|
999,734
|
|
|
375,000
|
Neuberger Berman Loan Advisers NBLA CLO 52
Ltd. Series 2022-52A, 5.67%, 10/24/2038,
3 mo. USD Term SOFR + 2.00%(1)(2)
|
375,206
|
|
|
500,000
|
Niagara Park CLO Ltd. Series 2019-1A, 5.68%,
01/17/2038, 3 mo. USD Term SOFR +
2.00%(1)(2)
|
500,602
|
|
|
500,000
|
Oak Hill Credit Partners X-R Ltd. Series
2014-10RA, 4.81%, 04/20/2038, 3 mo. USD
Term SOFR + 1.13%(1)(2)
|
498,493
|
|
|
500,000
|
Oaktree CLO Ltd. Series 2023-1A, 5.17%,
04/15/2038, 3 mo. USD Term SOFR +
1.50%(1)(2)
|
501,406
|
|
|
930,000
|
Obra CLO 2 Ltd. Series 2025-2A, 5.22%,
07/20/2038, 3 mo. USD Term SOFR +
1.54%(1)(2)
|
933,447
|
|
|
|
2
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.4% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 94.3% - (continued)
|
||
|
$ 550,000
|
OCP Aegis CLO Ltd. Series 2025-47A, 5.07%,
01/21/2038, 3 mo. USD Term SOFR +
1.40%(1)(2)
|
$548,223
|
|
|
|
OCP CLO Ltd.
|
|
|
|
850,000
|
Series 2020-18A, 5.05%, 07/20/2037, 3 mo.
USD Term SOFR + 1.37%(1)(2)
|
851,232
|
|
|
995,000
|
Series 2016-12A, 5.05%, 10/18/2037, 3 mo.
USD Term SOFR + 1.37%(1)(2)
|
997,171
|
|
|
1,000,000
|
Series 2017-14A, 5.25%, 07/20/2037, 3 mo.
USD Term SOFR + 1.57%(1)(2)
|
1,000,597
|
|
|
500,000
|
Series 2017-13A, 5.67%, 11/26/2037, 3 mo.
USD Term SOFR + 2.00%(1)(2)
|
500,281
|
|
|
1,000,000
|
Octagon 60 Ltd. Series 2022-1A, 5.26%,
10/20/2037, 3 mo. USD Term SOFR +
1.58%(1)(2)
|
1,000,773
|
|
|
635,000
|
Octagon 63 Ltd. Series 2024-2A, 5.39%,
07/20/2037, 3 mo. USD Term SOFR +
1.71%(1)(2)
|
635,588
|
|
|
350,000
|
Octagon 64 Ltd. Series 2022-1A, 5.22%,
07/21/2037, 3 mo. USD Term SOFR +
1.55%(1)(2)
|
350,156
|
|
|
625,000
|
OHA Credit Funding 10-R Ltd. Series
2021-10RA, 4.94%, 07/18/2037, 3 mo. USD
Term SOFR + 1.26%(1)(2)
|
625,880
|
|
|
780,000
|
OHA Credit Funding 16-R Ltd. Series
2023-16RA, 5.08%, 10/20/2038, 3 mo. USD
Term SOFR + 1.40%(1)(2)
|
779,988
|
|
|
1,000,000
|
OHA Credit Funding 3 Ltd. Series 2019-3A,
5.00%, 01/20/2038, 3 mo. USD Term SOFR +
1.32%(1)(2)
|
1,000,952
|
|
|
1,000,000
|
OHA Credit Funding 7 Ltd. Series 2020-7A,
4.96%, 07/19/2038, 3 mo. USD Term SOFR +
1.28%(1)(2)
|
1,000,710
|
|
|
750,000
|
OHA Loan Funding Ltd. Series 2016-1A, 5.38%,
07/20/2037, 3 mo. USD Term SOFR +
1.70%(1)(2)
|
750,978
|
|
|
|
Palmer Square CLO Ltd.
|
|
|
|
1,000,000
|
Series 2021-3A, 4.96%, 10/15/2038, 3 mo.
USD Term SOFR + 1.29%(1)(2)
|
1,000,723
|
|
|
850,000
|
Series 2022-3A, 5.23%, 07/20/2037, 3 mo.
USD Term SOFR + 1.55%(1)(2)
|
850,530
|
|
|
750,000
|
RAD CLO 21 Ltd. Series 2023-21A, 4.74%,
01/25/2037, 3 mo. USD Term SOFR +
1.07%(1)(2)
|
747,604
|
|
|
1,000,000
|
RAD CLO 25 Ltd. Series 2024-25A, 5.34%,
07/20/2037, 3 mo. USD Term SOFR +
1.66%(1)(2)
|
1,000,690
|
|
|
1,000,000
|
RAD CLO 27 Ltd. Series 2024-27A, 4.99%,
01/15/2038, 3 mo. USD Term SOFR +
1.32%(1)(2)
|
1,001,275
|
|
|
1,000,000
|
Regatta 30 Funding Ltd. Series 2024-4A, 4.99%,
01/25/2038, 3 mo. USD Term SOFR +
1.32%(1)(2)
|
1,001,859
|
|
|
500,000
|
Regatta VII Funding Ltd. Series 2016-1A, 5.14%,
06/20/2034, 3 mo. USD Term SOFR +
1.45%(1)(2)
|
499,978
|
|
|
|
Regatta XIX Funding Ltd.
|
|
|
|
250,000
|
Series 2022-1A, 4.92%, 10/20/2038, 3 mo.
USD Term SOFR + 1.24%(1)(2)
|
250,288
|
|
|
550,000
|
Series 2022-1A, 5.08%, 10/20/2038, 3 mo.
USD Term SOFR + 1.40%(1)(2)
|
548,961
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 99.4% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 94.3% - (continued)
|
||
|
$ 1,100,000
|
Regatta XXIV Funding Ltd. Series 2021-5A,
5.00%, 01/20/2038, 3 mo. USD Term SOFR +
1.32%(1)(2)
|
$1,101,441
|
|
|
500,000
|
Regatta XXVI Funding Ltd. Series 2023-2A,
4.92%, 01/25/2039, 3 mo. USD Term SOFR +
1.25%(1)(2)
|
500,135
|
|
|
545,000
|
RR 27 Ltd. Series 2023-27A, 5.12%, 10/15/2040,
3 mo. USD Term SOFR + 1.45%(1)(2)
|
544,987
|
|
|
500,000
|
RR 38 Ltd. Series 2025-38A, 5.17%, 04/15/2040,
3 mo. USD Term SOFR + 1.50%(1)(2)
|
500,284
|
|
|
1,100,000
|
RR 42 Ltd. Series 2025-42A, 4.88%, 10/15/2040,
3 mo. USD Term SOFR + 1.21%(1)(2)
|
1,100,707
|
|
|
1,125,000
|
Sixth Street CLO 27 Ltd. Series 2024-27A,
5.02%, 01/17/2038, 3 mo. USD Term SOFR +
1.34%(1)(2)
|
1,125,665
|
|
|
1,035,000
|
Symetra CLO Ltd. Series 2025-1A, 4.97%,
04/20/2038, 3 mo. USD Term SOFR +
1.29%(1)(2)
|
1,035,850
|
|
|
850,000
|
Symphony CLO 36 Ltd. Series 2022-36A, 5.03%,
10/24/2037, 3 mo. USD Term SOFR +
1.36%(1)(2)
|
850,718
|
|
|
1,000,000
|
Texas Debt Capital CLO Ltd. Series 2023-1A,
4.98%, 07/20/2038, 3 mo. USD Term SOFR +
1.30%(1)(2)
|
1,000,867
|
|
|
|
Voya CLO Ltd.
|
|
|
|
560,000
|
Series 2019-1A, 5.04%, 10/15/2037, 3 mo.
USD Term SOFR + 1.37%(1)(2)
|
560,794
|
|
|
550,000
|
Series 2022-3A, 5.08%, 10/20/2036, 3 mo.
USD Term SOFR + 1.40%(1)(2)
|
548,070
|
|
|
1,000,000
|
Series 2015-3A, 5.13%, 10/20/2031, 3 mo.
USD Term SOFR + 1.45%(1)(2)
|
999,412
|
|
|
|
|
|
95,225,579
|
|
|
Total Asset-Backed & Commercial
Mortgage-Backed Securities
(cost $100,433,333)
|
$100,318,874
|
|
|
SHORT-TERM INVESTMENTS - 0.0%
|
|||
|
|
Repurchase Agreements - 0.0%
|
||
|
15,212
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 04/30/2026 at 3.64%, due
on 05/01/2026 with a maturity value of
$15,214; collateralized by U.S. Treasury
Note at 3.88%, maturing 06/15/2028, with a
market value of $15,692
|
$15,212
|
|
|
|
Total Short-Term Investments
(cost $15,212)
|
$15,212
|
|
|
|
Total Investments
(cost $100,448,545)
|
99.4
%
|
$100,334,086
|
|
|
Other Assets and Liabilities
|
0.6
%
|
610,812
|
|
|
Net Assets
|
100.0
%
|
$100,944,898
|
|
|
3
|
|
|
(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 April 30, 2026, the aggregate value of these securities was
$100,318,874, representing 99.4% of net assets.
|
|
(2)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain
variable rate securities are not based on a published reference rate and spread but
are determined by the issuer or agent and are based on current market conditions;
these securities do not indicate a reference rate and spread in the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Asset-Backed & Commercial Mortgage-Backed Securities
|
$100,318,874
|
$—
|
$100,318,874
|
$—
|
|
Short-Term Investments
|
15,212
|
—
|
15,212
|
—
|
|
Total
|
$100,334,086
|
$—
|
$100,334,086
|
$—
|
|
(1)
|
For the period ended April 30, 2026, there were no transfers in and out of Level 3.
|
|
|
4
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 99.6%
|
|||
|
|
Automobiles & Components - 0.3%
|
||
|
13,356
|
Gentex Corp.
|
$308,657
|
|
|
23,841
|
Goodyear Tire & Rubber Co.*
|
168,794
|
|
|
|
|
|
477,451
|
|
|
Banks - 5.1%
|
||
|
40,144
|
Bank of America Corp.
|
2,146,098
|
|
|
47,601
|
Columbia Banking System, Inc.
|
1,408,990
|
|
|
4,378
|
M&T Bank Corp.
|
957,162
|
|
|
18,447
|
Pinnacle Financial Partners, Inc.
|
1,825,146
|
|
|
6,656
|
Southstate Bank Corp.
|
650,091
|
|
|
4,150
|
Truist Financial Corp.
|
213,725
|
|
|
20,155
|
Wells Fargo & Co.
|
1,657,346
|
|
|
|
|
|
8,858,558
|
|
|
Capital Goods - 10.3%
|
||
|
6,155
|
AAON, Inc.
|
574,323
|
|
|
4,536
|
Boeing Co.*
|
1,038,880
|
|
|
5,382
|
Boise Cascade Co.
|
426,631
|
|
|
12,973
|
Builders FirstSource, Inc.*
|
1,026,034
|
|
|
2,579
|
Deere & Co.
|
1,521,275
|
|
|
1,213
|
General Dynamics Corp.
|
417,636
|
|
|
28,288
|
Ingersoll Rand, Inc.
|
2,259,080
|
|
|
5,490
|
JBT Marel Corp.
|
648,369
|
|
|
12,299
|
Mercury Systems, Inc.*
|
970,514
|
|
|
4,204
|
Northrop Grumman Corp.
|
2,436,134
|
|
|
10,500
|
Otis Worldwide Corp.
|
817,740
|
|
|
6,270
|
PACCAR, Inc.
|
744,876
|
|
|
8,629
|
Regal Rexnord Corp.
|
1,855,494
|
|
|
18,807
|
StandardAero, Inc.*
|
467,542
|
|
|
6,457
|
WESCO International, Inc.
|
2,254,268
|
|
|
1,488
|
Westinghouse Air Brake Technologies Corp.
|
401,596
|
|
|
|
|
|
17,860,392
|
|
|
Commercial & Professional Services - 0.3%
|
||
|
515
|
CACI International, Inc. Class A*
|
267,563
|
|
|
3,050
|
TransUnion
|
216,550
|
|
|
|
|
|
484,113
|
|
|
Consumer Discretionary Distribution & Retail - 5.0%
|
||
|
15,147
|
Amazon.com, Inc.*
|
4,014,864
|
|
|
2,343
|
Boot Barn Holdings, Inc.*
|
401,707
|
|
|
2,385
|
Dick's Sporting Goods, Inc.
|
541,204
|
|
|
7,469
|
Lowe's Cos., Inc.
|
1,783,523
|
|
|
12,751
|
TJX Cos., Inc.
|
1,998,719
|
|
|
|
|
|
8,740,017
|
|
|
Consumer Durables & Apparel - 0.8%
|
||
|
8,625
|
NIKE, Inc. Class B
|
382,605
|
|
|
12,458
|
Somnigroup International, Inc.
|
945,064
|
|
|
|
|
|
1,327,669
|
|
|
Consumer Services - 0.6%
|
||
|
7,057
|
Airbnb, Inc. Class A*
|
990,520
|
|
|
|
Consumer Staples Distribution & Retail - 2.0%
|
||
|
38,810
|
Kroger Co.
|
2,641,797
|
|
|
12,247
|
Sysco Corp.
|
914,973
|
|
|
|
|
|
3,556,770
|
|
|
Energy - 8.0%
|
||
|
36,290
|
ConocoPhillips
|
4,564,556
|
|
|
21,873
|
Exxon Mobil Corp.
|
3,375,660
|
|
|
30,427
|
SLB Ltd.
|
1,730,688
|
|
|
9,116
|
Valero Energy Corp.
|
2,302,519
|
|
|
24,640
|
Williams Cos., Inc.
|
1,880,279
|
|
|
|
|
|
13,853,702
|
|
|
Equity Real Estate Investment Trusts (REITs) - 4.1%
|
||
|
3,016
|
American Tower Corp. REIT
|
551,053
|
|
|
924
|
AvalonBay Communities, Inc. REIT
|
169,092
|
|
|
23,482
|
Crown Castle, Inc. REIT
|
2,084,732
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 99.6% - (continued)
|
|||
|
|
Equity Real Estate Investment Trusts (REITs) - 4.1% - (continued)
|
||
|
1,101
|
Equinix, Inc. REIT
|
$1,192,196
|
|
|
6,003
|
Prologis, Inc. REIT
|
852,546
|
|
|
796
|
Public Storage REIT
|
240,750
|
|
|
9,598
|
Simon Property Group, Inc. REIT
|
1,955,209
|
|
|
|
|
|
7,045,578
|
|
|
Financial Services - 7.8%
|
||
|
27,708
|
Ally Financial, Inc.
|
1,229,958
|
|
|
1,394
|
American Express Co.
|
450,332
|
|
|
1,037
|
Blackrock, Inc.
|
1,105,027
|
|
|
9,114
|
Intercontinental Exchange, Inc.
|
1,440,832
|
|
|
2,852
|
KKR & Co., Inc.
|
297,578
|
|
|
8,650
|
Morgan Stanley
|
1,648,603
|
|
|
5,311
|
Raymond James Financial, Inc.
|
840,838
|
|
|
1,678
|
S&P Global, Inc.
|
723,604
|
|
|
20,388
|
Stifel Financial Corp.
|
1,606,778
|
|
|
7,060
|
Tradeweb Markets, Inc. Class A
|
799,545
|
|
|
7,259
|
Visa, Inc. Class A
|
2,394,309
|
|
|
11,375
|
Voya Financial, Inc.
|
932,295
|
|
|
|
|
|
13,469,699
|
|
|
Food, Beverage & Tobacco - 5.0%
|
||
|
8,945
|
Archer-Daniels-Midland Co.
|
666,760
|
|
|
3,329
|
Constellation Brands, Inc. Class A
|
521,255
|
|
|
34,208
|
General Mills, Inc.
|
1,207,885
|
|
|
50,049
|
Keurig Dr. Pepper, Inc.
|
1,471,441
|
|
|
18,786
|
Philip Morris International, Inc.
|
3,101,005
|
|
|
25,520
|
Tyson Foods, Inc. Class A
|
1,635,066
|
|
|
|
|
|
8,603,412
|
|
|
Health Care Equipment & Services - 4.2%
|
||
|
3,445
|
Becton Dickinson & Co.
|
513,443
|
|
|
4,667
|
Cardinal Health, Inc.
|
900,171
|
|
|
2,019
|
Elevance Health, Inc.
|
759,992
|
|
|
2,698
|
HCA Healthcare, Inc.
|
1,172,146
|
|
|
2,155
|
Labcorp Holdings, Inc.
|
553,404
|
|
|
4,326
|
STERIS PLC
|
938,223
|
|
|
6,402
|
UnitedHealth Group, Inc.
|
2,371,813
|
|
|
|
|
|
7,209,192
|
|
|
Household & Personal Products - 0.3%
|
||
|
5,294
|
Kimberly-Clark Corp.
|
521,088
|
|
|
|
Insurance - 5.2%
|
||
|
10,726
|
American International Group, Inc.
|
802,305
|
|
|
15,883
|
Chubb Ltd.
|
5,193,741
|
|
|
1,396
|
Everest Group Ltd.
|
498,037
|
|
|
5,254
|
Marsh & McLennan Cos., Inc.
|
881,148
|
|
|
20,519
|
MetLife, Inc.
|
1,643,572
|
|
|
|
|
|
9,018,803
|
|
|
Materials - 3.1%
|
||
|
10,022
|
Avery Dennison Corp.
|
1,642,906
|
|
|
25,401
|
Freeport-McMoRan, Inc.
|
1,467,670
|
|
|
4,891
|
Ingevity Corp.*
|
372,645
|
|
|
50,342
|
James Hardie Industries PLC*
|
1,056,679
|
|
|
1,574
|
PPG Industries, Inc.
|
170,779
|
|
|
1,735
|
Reliance, Inc.
|
628,938
|
|
|
|
|
|
5,339,617
|
|
|
Media & Entertainment - 7.4%
|
||
|
26,600
|
Alphabet, Inc. Class A
|
10,235,680
|
|
|
1,370
|
EchoStar Corp. Class A*
|
168,702
|
|
|
23,328
|
Walt Disney Co.
|
2,420,280
|
|
|
|
|
|
12,824,662
|
|
|
Pharmaceuticals, Biotechnology & Life Sciences - 7.4%
|
||
|
9,664
|
AbbVie, Inc.
|
2,042,197
|
|
|
8,584
|
Danaher Corp.
|
1,536,107
|
|
|
2,079
|
Eli Lilly & Co.
|
1,943,033
|
|
|
13,471
|
Gilead Sciences, Inc.
|
1,762,546
|
|
|
|
5
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 99.6% - (continued)
|
|||
|
|
Pharmaceuticals, Biotechnology & Life Sciences - 7.4% - (continued)
|
||
|
4,634
|
Johnson & Johnson
|
$1,065,125
|
|
|
23,134
|
Merck & Co., Inc.
|
2,525,770
|
|
|
70,829
|
Pfizer, Inc.
|
1,891,134
|
|
|
|
|
|
12,765,912
|
|
|
Semiconductors & Semiconductor Equipment - 7.4%
|
||
|
3,710
|
Advanced Micro Devices, Inc.*
|
1,315,158
|
|
|
14,911
|
Entegris, Inc.
|
2,108,117
|
|
|
24,142
|
Intel Corp.*
|
2,280,936
|
|
|
4,100
|
Marvell Technology, Inc.
|
677,115
|
|
|
6,113
|
Micron Technology, Inc.
|
3,161,399
|
|
|
10,616
|
MKS, Inc.
|
3,012,290
|
|
|
1,130
|
QUALCOMM, Inc.
|
202,926
|
|
|
|
|
|
12,757,941
|
|
|
Software & Services - 1.6%
|
||
|
7,027
|
Cognizant Technology Solutions Corp. Class A
|
371,728
|
|
|
4,862
|
Microsoft Corp.
|
1,982,626
|
|
|
1,255
|
Roper Technologies, Inc.
|
445,287
|
|
|
|
|
|
2,799,641
|
|
|
Technology Hardware & Equipment - 4.3%
|
||
|
23,043
|
Cisco Systems, Inc.
|
2,108,435
|
|
|
2,872
|
Coherent Corp.*
|
918,207
|
|
|
23,979
|
Flex Ltd.*
|
2,195,278
|
|
|
425
|
Lumentum Holdings, Inc.*
|
383,486
|
|
|
1,565
|
NetApp, Inc.
|
173,355
|
|
|
1,036
|
Sandisk Corp.*
|
1,135,984
|
|
|
1,154
|
Western Digital Corp.
|
501,436
|
|
|
|
|
|
7,416,181
|
|
|
Telecommunication Services - 1.1%
|
||
|
9,733
|
T-Mobile U.S., Inc.
|
1,902,801
|
|
|
|
Transportation - 1.8%
|
||
|
2,522
|
Delta Air Lines, Inc.
|
171,471
|
|
|
18,086
|
Hub Group, Inc. Class A
|
792,709
|
|
|
1,102
|
Ryder System, Inc.
|
279,655
|
|
|
6,228
|
United Parcel Service, Inc. Class B
|
677,606
|
|
|
5,640
|
XPO, Inc.*
|
1,241,533
|
|
|
|
|
|
3,162,974
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 99.6% - (continued)
|
|||
|
|
Utilities - 6.5%
|
||
|
3,736
|
American Electric Power Co., Inc.
|
$512,243
|
|
|
4,116
|
American Water Works Co., Inc.
|
528,577
|
|
|
10,070
|
Atmos Energy Corp.
|
1,913,098
|
|
|
31,202
|
Duke Energy Corp.
|
4,042,219
|
|
|
64,998
|
Exelon Corp.
|
2,989,258
|
|
|
13,998
|
Sempra
|
1,331,490
|
|
|
|
|
|
11,316,885
|
|
|
Total Common Stocks
(cost $164,401,894)
|
|
$172,303,578
|
|
|
Total Investments
(cost $164,401,894)
|
99.6
%
|
$172,303,578
|
|
|
Other Assets and Liabilities
|
0.4
%
|
640,240
|
|
|
Net Assets
|
100.0
%
|
$172,943,818
|
|
*
|
Non-income producing.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Common Stocks
|
$172,303,578
|
$172,303,578
|
$—
|
$—
|
|
Total
|
$172,303,578
|
$172,303,578
|
$—
|
$—
|
|
(1)
|
For the period ended April 30, 2026, there were no transfers in and out of Level 3.
|
|
|
6
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 19.3%
|
|||
|
|
Asset-Backed - Automobile - 0.8%
|
||
|
$ 190,000
|
American Credit Acceptance Receivables Trust
Series 2026-2, 4.50%, 10/08/2030(1)
|
$189,897
|
|
|
215,000
|
Avis Budget Rental Car Funding AESOP LLC
Series 2024-3A, 5.23%, 12/20/2030(1)
|
218,695
|
|
|
|
Credit Acceptance Auto Loan Trust
|
|
|
|
165,000
|
Series 2026-1A, 4.65%, 04/15/2036(1)
|
165,017
|
|
|
470,000
|
Series 2024-2A, 6.11%, 08/15/2034(1)
|
479,274
|
|
|
180,000
|
Exeter Automobile Receivables Trust Series
2025-4A, 4.40%, 05/15/2030
|
179,852
|
|
|
375,000
|
GLS Auto Receivables Issuer Trust Series
2025-1A, 4.98%, 07/16/2029(1)
|
377,089
|
|
|
716,000
|
GLS Auto Select Receivables Trust Series
2025-3A, 4.81%, 09/15/2031(1)
|
717,851
|
|
|
190,000
|
Hertz Vehicle Financing III LLC Series 2025-2A,
5.13%, 09/25/2031(1)
|
191,558
|
|
|
|
Securitized Term Auto Receivables Trust
|
|
|
|
230,303
|
Series 2025-B, 4.93%, 12/29/2032(1)
|
231,671
|
|
|
54,531
|
Series 2025-A, 5.04%, 07/25/2031(1)
|
54,875
|
|
|
115,000
|
Yamaha Motor Master Trust II Series 2026-A,
4.43%, 04/15/2031(1)
|
115,100
|
|
|
|
|
|
2,920,879
|
|
|
Asset-Backed - Finance & Insurance - 0.4%
|
||
|
|
Palmer Square Loan Funding Ltd.
|
|
|
|
750,000
|
Series 2024-1A, 4.82%, 10/15/2032, 3 mo.
USD Term SOFR + 1.15%(1)(2)
|
749,120
|
|
|
670,000
|
Series 2026-1A, 5.05%, 07/15/2034, 3 mo.
USD Term SOFR + 1.40%(1)(2)
|
670,015
|
|
|
|
|
|
1,419,135
|
|
|
Asset-Backed - Home Equity - 0.1%
|
||
|
161,005
|
COOPR Residential Mortgage Trust Series
2026-CES1, 4.87%, 02/25/2061(1)(3)
|
159,834
|
|
|
140,494
|
FIGRE Trust Series 2026-HE1, 4.98%,
01/25/2056(1)(2)
|
138,683
|
|
|
145,000
|
OBX Trust Series 2026-CES1, 5.19%,
04/25/2056(1)(3)
|
144,481
|
|
|
|
|
|
442,998
|
|
|
Asset-Backed - Manufactured Housing - 0.0%
|
||
|
46,793
|
Cascade MH Asset Trust Series 2021-MH1,
1.75%, 02/25/2046(1)
|
42,382
|
|
|
|
Asset-Backed - Student Loan - 0.1%
|
||
|
|
Navient Private Education Refi Loan Trust
|
|
|
|
93,492
|
Series 2021-EA, 0.97%, 12/16/2069(1)
|
83,564
|
|
|
163,980
|
Series 2021-FA, 1.11%, 02/18/2070(1)
|
145,917
|
|
|
|
|
|
229,481
|
|
|
Commercial Mortgage-Backed Securities - 6.2%
|
||
|
235,000
|
245 Park Avenue Trust Series 2017-245P,
3.51%, 06/05/2037(1)
|
231,977
|
|
|
195,000
|
ALA Trust Series 2025-OANA, 5.40%,
06/15/2040, 1 mo. USD Term SOFR +
1.74%(1)(2)
|
195,731
|
|
|
510,000
|
AREIT Trust Series 2025-CRE11, 5.22%,
07/25/2043, 1 mo. USD Term SOFR +
1.55%(1)(2)
|
510,814
|
|
|
|
BBCMS Mortgage Trust
|
|
|
|
1,822,392
|
Series 2024-C26, 1.24%, 05/15/2057(2)(4)
|
122,578
|
|
|
1,154,776
|
Series 2024-C28, 1.33%, 09/15/2057(2)(4)
|
82,132
|
|
|
1,074,300
|
Series 2025-C32, 1.36%, 02/15/2062(2)(4)
|
83,833
|
|
|
1,000,746
|
Series 2024-C24, 1.86%, 02/15/2057(2)(4)
|
88,354
|
|
|
775,000
|
Series 2026-5C40, 5.53%, 02/15/2059(2)
|
789,013
|
|
|
295,000
|
BDS LLC Series 2026-FL17, 5.00%,
05/19/2043, 1 mo. USD Term SOFR +
1.35%(1)(2)
|
295,003
|
|
|
|
Benchmark Mortgage Trust
|
|
|
|
2,765,066
|
Series 2023-B39, 0.72%, 07/15/2056(2)(4)
|
92,156
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 19.3% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 6.2% - (continued)
|
||
|
$ 965,500
|
Series 2023-B40, 1.43%, 12/15/2056(2)(4)
|
$48,254
|
|
|
551,319
|
Series 2020-B22, 1.60%, 01/15/2054(2)(4)
|
30,581
|
|
|
470,420
|
Series 2020-B18, 1.87%, 07/15/2053(2)(4)
|
23,658
|
|
|
265,000
|
Series 2026-V20, 5.44%, 02/15/2059
|
268,666
|
|
|
1,681,113
|
BMO Mortgage Trust Series 2024-C9, 1.08%,
07/15/2057(2)(4)
|
100,449
|
|
|
625,000
|
BOCA Commercial Mortgage Trust Series
2025-BOCA, 5.25%, 12/15/2042, 1 mo. USD
Term SOFR + 1.60%(1)(2)
|
625,781
|
|
|
165,000
|
BSTN Commercial Mortgage Trust Series
2025-HUB, 5.06%, 04/13/2041(1)(2)
|
164,731
|
|
|
410,000
|
BWAY Mortgage Trust Series 2025-1535,
6.52%, 05/05/2042(1)(2)
|
414,238
|
|
|
|
BX Commercial Mortgage Trust
|
|
|
|
1,005,000
|
Series 2026-LP3, 5.03%, 04/15/2043, 1 mo.
USD Term SOFR + 1.38%(1)(2)
|
1,007,198
|
|
|
1,130,000
|
Series 2026-CSMO, 5.05%, 02/15/2043,
1 mo. USD Term SOFR + 1.40%(1)(2)
|
1,130,481
|
|
|
1,020,000
|
Series 2026-ALOHA, 5.05%, 04/15/2043,
1 mo. USD Term SOFR + 1.35%(1)(2)
|
1,020,010
|
|
|
|
BX Trust
|
|
|
|
1,530,000
|
Series 2026-CART, 4.70%, 02/15/2036, 1 mo.
USD Term SOFR + 1.05%(1)(2)
|
1,516,134
|
|
|
435,000
|
Series 2025-ARIA, 5.20%, 12/13/2042(1)(2)
|
437,932
|
|
|
|
Commercial Mortgage Trust
|
|
|
|
100,000
|
Series 2022-HC, 2.82%, 01/10/2039(1)
|
97,364
|
|
|
130,000
|
Series 2024-CBM, 5.87%, 12/10/2041(1)(2)
|
130,111
|
|
|
280,000
|
DBGS Mortgage Trust Series 2018-C1, 4.47%,
10/15/2051
|
278,160
|
|
|
361,766
|
DBJPM Mortgage Trust Series 2020-C9, 1.70%,
09/15/2053(2)(4)
|
14,129
|
|
|
120,000
|
DC Trust Series 2024-HLTN, 5.93%,
04/13/2040(1)(2)
|
120,567
|
|
|
|
Extended Stay America Trust
|
|
|
|
705,210
|
Series 2026-ESH2, 4.85%, 02/15/2043, 1 mo.
USD Term SOFR + 1.20%(1)(2)
|
705,871
|
|
|
125,207
|
Series 2025-ESH, 4.95%, 10/15/2042, 1 mo.
USD Term SOFR + 1.30%(1)(2)
|
125,363
|
|
|
225,000
|
FREMF Mortgage Trust Series 2016-K56,
4.05%, 06/25/2049(1)(2)
|
224,221
|
|
|
565,000
|
GS Mortgage Securities Corp. II Series
2024-70P, 5.49%, 03/10/2041(1)(2)
|
567,202
|
|
|
375,000
|
GS Mortgage Securities Trust Series 2016-GS4,
3.44%, 11/10/2049(2)
|
373,549
|
|
|
195,000
|
GS REFT Issuer Ltd. Series 2026-FL1, 5.16%,
04/19/2043, 1 mo. USD Term SOFR +
1.50%(1)(2)
|
195,305
|
|
|
155,615
|
HIH Trust Series 2024-61P, 5.50%, 10/15/2041,
1 mo. USD Term SOFR + 1.84%(1)(2)
|
155,712
|
|
|
825,000
|
HTL Commercial Mortgage Trust Series
2024-T53, 6.07%, 05/10/2039(1)(2)
|
831,365
|
|
|
505,000
|
INT Commercial Mortgage Trust Series
2025-PLAZA, 5.04%, 11/05/2037(1)(2)
|
504,492
|
|
|
485,000
|
IRV Trust Series 2025-200P, 5.47%,
03/14/2047(1)(2)
|
489,633
|
|
|
486,658
|
JP Morgan Chase Commercial Mortgage
Securities Trust Series 2016-JP2, 2.82%,
08/15/2049
|
485,374
|
|
|
|
JPMDB Commercial Mortgage Securities Trust
|
|
|
|
632,000
|
Series 2016-C4, 3.14%, 12/15/2049
|
626,400
|
|
|
35,964
|
Series 2017-C7, 3.24%, 10/15/2050
|
35,720
|
|
|
120,000
|
JW Commercial Mortgage Trust Series
2026-MRCO, 5.15%, 06/15/2039, 1 mo. USD
Term SOFR + 1.50%(1)(2)
|
119,748
|
|
|
|
7
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 19.3% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 6.2% - (continued)
|
||
|
$ 505,000
|
LBTY Commercial Mortgage Trust Series
2026-225L, 4.75%, 02/10/2043(1)(2)
|
$496,860
|
|
|
330,000
|
MF1 Ltd. Series 2022-FL8, 5.41%, 02/19/2037,
1 mo. USD Term SOFR + 1.75%(1)(2)
|
329,493
|
|
|
373,348
|
MSWF Commercial Mortgage Trust Series
2023-2, 1.15%, 12/15/2056(2)(4)
|
19,899
|
|
|
100,000
|
MTN Commercial Mortgage Trust Series
2026-LPFX, 5.15%, 05/15/2043(1)(2)
|
100,053
|
|
|
|
NYC Commercial Mortgage Trust
|
|
|
|
640,000
|
Series 2025-3BP, 4.87%, 02/15/2042, 1 mo.
USD Term SOFR + 1.21%(1)(2)
|
638,000
|
|
|
540,000
|
Series 2025-300P, 4.88%, 07/13/2042(1)(2)
|
537,106
|
|
|
200,000
|
Series 2026-1PARK, 4.91%, 02/15/2043,
1 mo. USD Term SOFR + 1.25%(1)(2)
|
199,813
|
|
|
50,000
|
SG Commercial Mortgage Securities Trust
Series 2020-COVE, 2.63%, 03/15/2037(1)
|
47,997
|
|
|
290,000
|
SHOPS Commercial Mortgage Trust Series
2026-CSTL, 4.97%, 05/15/2039(1)(2)
|
290,000
|
|
|
705,000
|
SHR Trust Series 2024-LXRY, 5.60%,
10/15/2041, 1 mo. USD Term SOFR +
1.95%(1)(2)
|
707,466
|
|
|
600,000
|
SLG Office Trust Series 2026-OMA, 4.97%,
04/15/2041(1)(2)
|
602,168
|
|
|
565,000
|
TEXAS Commercial Mortgage Trust Series
2025-TWR, 4.95%, 04/15/2042, 1 mo. USD
Term SOFR + 1.29%(1)(2)
|
563,234
|
|
|
|
Wells Fargo Commercial Mortgage Trust
|
|
|
|
1,586,659
|
Series 2024-C63, 1.21%, 08/15/2057(2)(4)
|
107,195
|
|
|
420,000
|
Series 2017-RB1, 3.64%, 03/15/2050
|
413,408
|
|
|
|
Wells Fargo NA
|
|
|
|
3,921,153
|
Series 2019-BN24, 0.75%, 11/15/2062(2)(4)
|
79,684
|
|
|
1,707,710
|
Series 2024-BNK47, 1.04%, 06/15/2057(2)(4)
|
89,496
|
|
|
856,066
|
Series 2019-BN16, 1.09%, 02/15/2052(2)(4)
|
16,675
|
|
|
880,923
|
Series 2023-5YR4, 1.26%, 12/15/2056(2)(4)
|
18,634
|
|
|
883,383
|
Series 2023-BNK45, 1.28%, 02/15/2056(2)(4)
|
47,266
|
|
|
1,837,783
|
Series 2024-BNK48, 1.35%, 10/15/2057(2)(4)
|
140,603
|
|
|
1,425,446
|
Series 2020-BN29, 1.40%, 11/15/2053(2)(4)
|
67,182
|
|
|
1,224,053
|
Series 2020-BN28, 1.87%, 03/15/2063(2)(4)
|
75,919
|
|
|
145,000
|
Series 2018-BN15, 4.41%, 11/15/2061(2)
|
144,431
|
|
|
575,000
|
Series 2026-5YR20, 5.34%, 02/15/2059
|
581,759
|
|
|
385,000
|
WHARF Commercial Mortgage Trust Series
2025-DC, 5.53%, 07/15/2040(1)(2)
|
391,772
|
|
|
275,000
|
Willowbrook Mall Series 2025-WBRK, 5.87%,
03/05/2035(1)(2)
|
281,739
|
|
|
|
|
|
22,347,842
|
|
|
Other Asset-Backed Securities - 3.5%
|
||
|
305,000
|
Aligned Data Centers Issuer LLC Series
2023-1A, 6.00%, 08/17/2048(1)
|
305,774
|
|
|
295,000
|
Amur Equipment Finance Receivables XV LLC
Series 2025-1A, 5.18%, 11/20/2031(1)
|
298,710
|
|
|
206,361
|
Auxilior Term Funding LLC Series 2024-1A,
5.49%, 07/15/2031(1)
|
208,803
|
|
|
315,000
|
Benefit Street Partners CLO XXXI Ltd. Series
2023-31A, 5.42%, 04/25/2038, 3 mo. USD
Term SOFR + 1.75%(1)(2)
|
316,249
|
|
|
270,000
|
Birch Grove CLO 4 Ltd. Series 2022-4A, 5.47%,
07/15/2037, 3 mo. USD Term SOFR +
1.80%(1)(2)
|
270,117
|
|
|
50,986
|
Blue Owl Asset Leasing Trust LLC Series
2024-1A, 5.05%, 03/15/2029(1)
|
51,180
|
|
|
|
CF Hippolyta Issuer LLC
|
|
|
|
92,216
|
Series 2021-1A, 1.53%, 03/15/2061(1)
|
74,453
|
|
|
124,037
|
Series 2020-1, 1.69%, 07/15/2060(1)
|
103,244
|
|
|
95,610
|
Series 2022-1A, 5.97%, 08/15/2062(1)
|
95,025
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 19.3% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 3.5% - (continued)
|
||
|
$ 80,128
|
Commercial Equipment Finance LLC Series
2024-1A, 5.97%, 07/16/2029(1)
|
$80,533
|
|
|
143,625
|
DB Master Finance LLC Series 2021-1A, 2.79%,
11/20/2051(1)
|
126,903
|
|
|
|
Domino's Pizza Master Issuer LLC
|
|
|
|
441,515
|
Series 2021-1A, 2.66%, 04/25/2051(1)
|
418,611
|
|
|
432,000
|
Series 2019-1A, 3.67%, 10/25/2049(1)
|
414,693
|
|
|
295,000
|
Elmwood CLO 23 Ltd. Series 2023-2A, 5.43%,
04/16/2036, 3 mo. USD Term SOFR +
1.75%(1)(2)
|
295,265
|
|
|
|
FirstKey Homes Trust
|
|
|
|
148,222
|
Series 2022-SFR1, 4.15%, 05/19/2039(1)
|
147,335
|
|
|
489,906
|
Series 2022-SFR2, 4.25%, 07/17/2039(1)
|
487,423
|
|
|
460,000
|
Flatiron CLO 21 Ltd. Series 2021-1A, 5.04%,
10/19/2037, 3 mo. USD Term SOFR +
1.36%(1)(2)
|
460,651
|
|
|
|
Progress Residential Trust
|
|
|
|
137,577
|
Series 2022-SFR3, 3.20%, 04/17/2039(1)
|
135,822
|
|
|
245,000
|
Series 2026-SFR1, 4.00%, 02/17/2043(1)
|
232,041
|
|
|
392,377
|
Series 2022-SFR4, 4.44%, 05/17/2041(1)
|
386,874
|
|
|
100,707
|
Series 2022-SFR5, 4.45%, 06/17/2039(1)
|
100,241
|
|
|
175,356
|
Series 2022-SFR7, 4.75%, 10/27/2039(1)
|
174,992
|
|
|
495,000
|
Retained Vantage Data Centers Issuer LLC
Series 2023-1A, 5.00%, 09/15/2048(1)
|
493,059
|
|
|
635,000
|
RR 23 Ltd. Series 2022-23A, 5.32%,
07/15/2037, 3 mo. USD Term SOFR +
1.65%(1)(2)
|
636,179
|
|
|
140,000
|
SCF Equipment Leasing LLC Series 2024-1A,
5.52%, 01/20/2032(1)
|
142,211
|
|
|
|
Stack Infrastructure Issuer LLC
|
|
|
|
285,000
|
Series 2023-2A, 5.90%, 07/25/2048(1)
|
285,535
|
|
|
130,000
|
Series 2024-1A, 5.90%, 03/25/2049(1)
|
130,892
|
|
|
133,300
|
Sunnova Hestia II Issuer LLC Series
2024-GRID1, 5.63%, 07/20/2051(1)
|
129,390
|
|
|
|
Tricon Residential Trust
|
|
|
|
650,099
|
Series 2022-SFR1, 3.86%, 04/17/2039(1)
|
645,394
|
|
|
305,620
|
Series 2024-SFR4, 4.30%, 11/17/2041(1)
|
300,215
|
|
|
291,480
|
Series 2025-SFR1, 4.75%, 03/17/2042, 1 mo.
USD Term SOFR + 1.10%(1)(2)
|
290,933
|
|
|
463,869
|
Series 2026-SFR1, 4.76%, 02/17/2043, 1 mo.
USD Term SOFR + 1.10%(1)(2)
|
463,948
|
|
|
1,275,000
|
Vantage Data Centers LLC Series 2025-1A,
5.13%, 08/15/2055(1)
|
1,237,418
|
|
|
330,000
|
VB-S1 Issuer LLC Series 2024-1A, 5.59%,
05/15/2054(1)
|
332,340
|
|
|
89,769
|
VFI ABS LLC Series 2025-1A, 4.78%,
06/24/2030(1)
|
89,954
|
|
|
|
Wendy's Funding LLC
|
|
|
|
195,076
|
Series 2021-1A, 2.37%, 06/15/2051(1)
|
180,423
|
|
|
132,993
|
Series 2018-1A, 3.88%, 03/15/2048(1)
|
130,166
|
|
|
157,929
|
Series 2019-1A, 4.08%, 06/15/2049(1)
|
151,676
|
|
|
726,687
|
Series 2022-1A, 4.24%, 03/15/2052(1)
|
706,984
|
|
|
110,659
|
Series 2022-1A, 4.54%, 03/15/2052(1)
|
104,757
|
|
|
|
Wingstop Funding LLC
|
|
|
|
531,900
|
Series 2020-1A, 2.84%, 12/05/2050(1)
|
515,640
|
|
|
145,000
|
Series 2024-1A, 5.86%, 12/05/2054(1)
|
147,110
|
|
|
380,000
|
Zayo Issuer LLC Series 2025-1A, 5.65%,
03/20/2055(1)
|
383,256
|
|
|
|
|
|
12,682,419
|
|
|
Whole Loan Collateral CMO - 8.2%
|
||
|
|
Angel Oak Mortgage Trust
|
|
|
|
54,965
|
Series 2021-1, 0.91%, 01/25/2066(1)(2)
|
48,654
|
|
|
207,111
|
Series 2021-5, 0.95%, 07/25/2066(1)(2)
|
178,476
|
|
|
19,886
|
Series 2020-R1, 0.99%, 04/25/2053(1)(2)
|
19,220
|
|
|
54,130
|
Series 2021-2, 0.99%, 04/25/2066(1)(2)
|
47,319
|
|
|
|
8
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 19.3% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 8.2% - (continued)
|
||
|
$ 144,185
|
Series 2021-4, 1.04%, 01/20/2065(1)(2)
|
$122,291
|
|
|
103,188
|
Series 2021-3, 1.07%, 05/25/2066(1)(2)
|
89,617
|
|
|
345,050
|
Series 2021-6, 1.46%, 09/25/2066(1)(2)
|
291,412
|
|
|
9,516
|
Series 2020-4, 1.47%, 06/25/2065(1)(2)
|
9,266
|
|
|
22,929
|
Series 2020-3, 1.69%, 04/25/2065(1)(2)
|
22,037
|
|
|
157,052
|
Series 2021-8, 1.82%, 11/25/2066(1)(2)
|
141,307
|
|
|
450,287
|
Series 2022-1, 3.88%, 12/25/2066(1)(3)
|
423,814
|
|
|
71,078
|
Series 2022-2, 4.08%, 01/25/2067(1)(2)
|
67,690
|
|
|
583,845
|
Series 2022-6, 4.30%, 07/25/2067(1)(3)
|
581,515
|
|
|
10,868
|
Arroyo Mortgage Trust Series 2019-1, 3.81%,
01/25/2049(1)(2)
|
10,614
|
|
|
93,268
|
BINOM Securitization Trust Series 2021-INV1,
2.03%, 06/25/2056(1)(2)
|
85,728
|
|
|
|
BRAVO Residential Funding Trust
|
|
|
|
24,220
|
Series 2021-NQM1, 0.94%, 02/25/2049(1)(2)
|
22,753
|
|
|
1,656
|
Series 2021-NQM2, 0.97%, 03/25/2060(1)(2)
|
1,621
|
|
|
6,551
|
Bunker Hill Loan Depositary Trust Series
2019-2, 2.88%, 07/25/2049(1)(3)
|
6,447
|
|
|
233,219
|
CIM Trust Series 2021-R6, 1.43%,
07/25/2061(1)(2)
|
214,907
|
|
|
|
COLT Mortgage Loan Trust
|
|
|
|
24,573
|
Series 2021-2R, 0.80%, 07/27/2054(1)
|
22,258
|
|
|
81,403
|
Series 2021-1, 0.91%, 06/25/2066(1)(2)
|
70,912
|
|
|
143,736
|
Series 2021-2, 0.92%, 08/25/2066(1)(2)
|
121,448
|
|
|
257,025
|
Series 2021-3, 0.96%, 09/27/2066(1)(2)
|
215,325
|
|
|
361,986
|
Series 2021-HX1, 1.11%, 10/25/2066(1)(2)
|
313,179
|
|
|
21,886
|
Series 2020-2R, 1.33%, 10/26/2065(1)(2)
|
20,812
|
|
|
200,472
|
Series 2021-4, 1.40%, 10/25/2066(1)(2)
|
171,828
|
|
|
361,566
|
Series 2022-1, 2.28%, 12/27/2066(1)(2)
|
332,308
|
|
|
251,766
|
Series 2026-1, 4.76%, 02/25/2071(1)(2)
|
249,986
|
|
|
192,422
|
COLT Trust Series 2020-RPL1, 1.39%,
01/25/2065(1)(2)
|
164,645
|
|
|
|
CSMC Trust
|
|
|
|
63,784
|
Series 2021-AFC1, 0.83%, 03/25/2056(1)(2)
|
52,967
|
|
|
141,549
|
Series 2021-NQM5, 0.94%, 05/25/2066(1)(2)
|
116,929
|
|
|
321,580
|
Series 2021-NQM6, 1.17%, 07/25/2066(1)(2)
|
277,049
|
|
|
110,059
|
Series 2020-RPL4, 2.00%, 01/25/2060(1)(2)
|
99,308
|
|
|
31,120
|
Series 2020-NQM1, 2.21%, 05/25/2065(1)(3)
|
29,986
|
|
|
174,798
|
Series 2021-NQM8, 2.84%, 10/25/2066(1)(2)
|
160,158
|
|
|
463,952
|
Series 2022-NQM1, 3.27%, 11/25/2066(1)(2)
|
420,388
|
|
|
57,512
|
Series 2021-RPL4, 4.15%, 12/27/2060(1)(2)
|
57,027
|
|
|
|
Deephaven Residential Mortgage Trust
|
|
|
|
7,780
|
Series 2021-1, 0.72%, 05/25/2065(1)(2)
|
7,556
|
|
|
36,655
|
Series 2021-2, 0.90%, 04/25/2066(1)(2)
|
32,704
|
|
|
|
Ellington Financial Mortgage Trust
|
|
|
|
22,496
|
Series 2021-1, 0.80%, 02/25/2066(1)(2)
|
19,649
|
|
|
43,727
|
Series 2021-2, 0.93%, 06/25/2066(1)(2)
|
37,005
|
|
|
11,467
|
Series 2020-2, 1.18%, 10/25/2065(1)(2)
|
10,921
|
|
|
246,621
|
Series 2021-3, 1.24%, 09/25/2066(1)(2)
|
207,952
|
|
|
870,101
|
Series 2022-1, 2.21%, 01/25/2067(1)(2)
|
771,100
|
|
|
358,515
|
Series 2025-INV5, 5.08%, 12/25/2070(1)(2)
|
357,760
|
|
|
12,453
|
Federal Home Loan Mortgage Corp. Seasoned
Credit Risk Transfer Trust Series 2020-1,
2.50%, 08/25/2059
|
11,592
|
|
|
|
Federal National Mortgage Association
Connecticut Avenue Securities Trust
|
|
|
|
470,000
|
Series 2026-R03, 4.74%, 04/25/2046, 30 day
USD SOFR Average + 1.10%(1)(2)
|
471,028
|
|
|
94,000
|
Series 2024-R02, 5.45%, 02/25/2044, 30 day
USD SOFR Average + 1.80%(1)(2)
|
94,586
|
|
|
334,961
|
Series 2023-R07, 6.90%, 09/25/2043, 30 day
USD SOFR Average + 3.25%(1)(2)
|
344,158
|
|
|
365,000
|
Series 2021-R02, 6.95%, 11/25/2041, 30 day
USD SOFR Average + 3.30%(1)(2)
|
368,993
|
|
|
|
GCAT Trust
|
|
|
|
67,829
|
Series 2021-NQM1, 0.87%, 01/25/2066(1)(2)
|
60,220
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 19.3% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 8.2% - (continued)
|
||
|
$ 77,376
|
Series 2021-NQM2, 1.04%, 05/25/2066(1)(2)
|
$68,383
|
|
|
248,511
|
Series 2021-NQM4, 1.09%, 08/25/2066(1)(2)
|
210,146
|
|
|
346,417
|
Series 2021-NQM5, 1.26%, 07/25/2066(1)(2)
|
290,124
|
|
|
300,140
|
Series 2021-NQM6, 1.86%, 08/25/2066(1)(2)
|
275,269
|
|
|
101,958
|
Series 2021-NQM7, 1.92%, 08/25/2066(1)(2)
|
94,908
|
|
|
11,926
|
Series 2020-NQM2, 2.56%, 04/25/2065(1)(3)
|
11,488
|
|
|
3,176
|
Series 2020-NQM1, 3.25%, 01/25/2060(1)(3)
|
3,144
|
|
|
|
GS Mortgage-Backed Securities Trust
|
|
|
|
384,303
|
Series 2026-NQM1, 4.87%, 03/25/2066(1)(2)
|
382,080
|
|
|
224,888
|
Series 2026-NQM1, 5.12%, 03/25/2066(1)(3)
|
223,976
|
|
|
|
Imperial Fund Mortgage Trust
|
|
|
|
125,629
|
Series 2021-NQM2, 1.07%, 09/25/2056(1)(2)
|
105,427
|
|
|
417,691
|
Series 2021-NQM4, 2.09%, 01/25/2057(1)(2)
|
360,175
|
|
|
125,000
|
JP Morgan Mortgage Trust Series 2026-LTV1,
5.42%, 09/25/2056(1)(2)
|
124,835
|
|
|
|
Legacy Mortgage Asset Trust
|
|
|
|
65,399
|
Series 2021-GS4, 5.65%, 11/25/2060(1)(3)
|
64,656
|
|
|
57,131
|
Series 2021-GS2, 5.75%, 04/25/2061(1)(3)
|
56,574
|
|
|
80,720
|
Series 2021-GS3, 5.75%, 07/25/2061(1)(3)
|
80,737
|
|
|
|
MetLife Securitization Trust
|
|
|
|
27,504
|
Series 2018-1A, 3.75%, 03/25/2057(1)(2)
|
26,656
|
|
|
12,720
|
Series 2019-1A, 3.75%, 04/25/2058(1)(2)
|
12,585
|
|
|
|
MFA Trust
|
|
|
|
8,397
|
Series 2020-NQM3, 1.01%, 01/26/2065(1)(2)
|
8,076
|
|
|
87,207
|
Series 2021-NQM2, 1.03%, 11/25/2064(1)(2)
|
78,560
|
|
|
|
Morgan Stanley Residential Mortgage Loan
Trust
|
|
|
|
653,032
|
Series 2025-SPL1, 4.25%, 02/25/2065(1)(2)
|
635,824
|
|
|
752,176
|
Series 2026-DSC1, 4.77%, 01/25/2071(1)(2)
|
745,824
|
|
|
442,729
|
Series 2026-NQM1, 4.81%, 12/25/2070(1)(2)
|
439,610
|
|
|
310,857
|
Series 2026-DSC1, 5.02%, 01/25/2071(1)(3)
|
308,554
|
|
|
|
New Residential Mortgage Loan Trust
|
|
|
|
42,466
|
Series 2021-NQ1R, 0.94%, 07/25/2055(1)(2)
|
38,958
|
|
|
242,038
|
Series 2021-NQM3, 1.16%, 11/27/2056(1)(2)
|
219,379
|
|
|
379,945
|
Series 2022-NQM1, 2.28%, 04/25/2061(1)(2)
|
342,982
|
|
|
56,819
|
Series 2018-RPL1, 3.50%, 12/25/2057(1)(2)
|
55,200
|
|
|
9,514
|
Series 2016-1A, 3.75%, 03/25/2056(1)(2)
|
9,165
|
|
|
24,850
|
Series 2019-3A, 3.75%, 11/25/2058(1)(2)
|
23,950
|
|
|
110,861
|
Series 2017-2A, 4.00%, 03/25/2057(1)(2)
|
107,398
|
|
|
120,090
|
Series 2018-1A, 4.00%, 12/25/2057(1)(2)
|
117,051
|
|
|
209,681
|
Series 2026-NQM1, 4.82%, 11/25/2065(1)(2)
|
208,117
|
|
|
737,329
|
Series 2022-NQM4, 5.00%, 06/25/2062(1)(3)
|
732,003
|
|
|
152,681
|
Series 2025-NQM7, 5.01%, 10/26/2065(1)(2)
|
152,072
|
|
|
656,342
|
Series 2025-NQM7, 5.26%, 10/26/2065(1)(3)
|
653,031
|
|
|
144,593
|
NMLT Trust Series 2021-INV1, 1.19%,
05/25/2056(1)(2)
|
127,084
|
|
|
|
OBX Trust
|
|
|
|
165,762
|
Series 2021-NQM3, 1.05%, 07/25/2061(1)(2)
|
139,132
|
|
|
98,242
|
Series 2021-NQM1, 1.07%, 02/25/2066(1)(2)
|
87,539
|
|
|
128,946
|
Series 2021-NQM4, 1.96%, 10/25/2061(1)(2)
|
110,519
|
|
|
354,332
|
Series 2022-NQM1, 2.31%, 11/25/2061(1)(2)
|
321,034
|
|
|
425,872
|
Series 2026-NQM2, 4.82%, 12/01/2065(1)(2)
|
423,546
|
|
|
875,000
|
Series 2026-NQM6, 5.06%, 04/26/2066(1)(2)
|
872,671
|
|
|
164,599
|
OLIT Trust Series 2025-HB2, 3.00%,
11/25/2038(1)(2)
|
158,040
|
|
|
|
Pretium Mortgage Credit Partners LLC
|
|
|
|
946,592
|
Series 2025-RPL6, 3.85%, 09/25/2069(1)(3)
|
939,132
|
|
|
685,441
|
Series 2025-RPL5, 4.15%, 01/25/2070(1)(3)
|
665,662
|
|
|
938,935
|
Series 2026-NPL2, 5.15%, 02/25/2056(1)(3)
|
932,171
|
|
|
183,088
|
Series 2026-NPL1, 5.18%, 01/25/2056(1)(3)
|
181,371
|
|
|
979,195
|
Series 2025-NPL11, 5.19%, 10/25/2055(1)(3)
|
979,967
|
|
|
487,604
|
Series 2025-NPL14, 5.27%, 12/25/2055(1)(3)
|
484,408
|
|
|
487,465
|
Series 2025-NPL7, 5.66%, 07/25/2055(1)(3)
|
484,867
|
|
|
466,874
|
Series 2025-NPL8, 5.73%, 08/25/2055(1)(3)
|
468,160
|
|
|
747,438
|
Series 2025-NPL6, 5.74%, 06/25/2055(1)(3)
|
748,387
|
|
|
628,446
|
Series 2025-NPL4, 6.37%, 04/25/2055(1)(3)
|
629,206
|
|
|
|
9
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 19.3% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 8.2% - (continued)
|
||
|
|
PRPM LLC
|
|
|
|
$ 845,177
|
Series 2025-RPL4, 3.00%, 05/25/2055(1)(3)
|
$802,689
|
|
|
579,236
|
Series 2025-RPL2, 3.75%, 04/25/2055(1)(3)
|
564,432
|
|
|
525,919
|
Series 2026-1, 5.19%, 02/25/2031(1)(3)
|
523,004
|
|
|
309,451
|
Series 2025-7, 5.50%, 08/25/2030(1)(3)
|
309,307
|
|
|
161,012
|
Series 2025-5, 5.73%, 07/25/2030(1)(3)
|
160,243
|
|
|
|
PRPM Trust
|
|
|
|
192,498
|
Series 2026-RCF1, 4.85%, 01/25/2056(1)(3)
|
191,450
|
|
|
78,945
|
Series 2025-3, 6.26%, 05/25/2030(1)(3)
|
78,852
|
|
|
15,194
|
Residential Mortgage Loan Trust Series
2021-1R, 0.86%, 01/25/2065(1)(2)
|
14,792
|
|
|
769,524
|
SG Residential Mortgage Trust Series 2021-2,
1.74%, 12/25/2061(1)(2)
|
658,970
|
|
|
|
Starwood Mortgage Residential Trust
|
|
|
|
14,551
|
Series 2021-2, 0.94%, 05/25/2065(1)(2)
|
13,947
|
|
|
5,039
|
Series 2020-3, 1.49%, 04/25/2065(1)(2)
|
4,964
|
|
|
259,537
|
Series 2021-6, 1.92%, 11/25/2066(1)(2)
|
229,335
|
|
|
|
Towd Point Mortgage Trust
|
|
|
|
73,406
|
Series 2020-4, 1.75%, 10/25/2060(1)
|
66,969
|
|
|
40,299
|
Series 2017-6, 2.75%, 10/25/2057(1)(2)
|
39,845
|
|
|
27,039
|
Series 2019-4, 2.90%, 10/25/2059(1)(2)
|
25,946
|
|
|
309,836
|
Series 2021-R1, 2.92%, 11/30/2060(1)(2)
|
273,981
|
|
|
81,735
|
TRK Trust Series 2021-INV1, 1.15%,
07/25/2056(1)(2)
|
73,867
|
|
|
|
Verus Securitization Trust
|
|
|
|
31,304
|
Series 2021-R2, 0.92%, 02/25/2064(1)(2)
|
29,908
|
|
|
114,055
|
Series 2021-4, 0.94%, 07/25/2066(1)(2)
|
96,744
|
|
|
478,062
|
Series 2021-5, 1.01%, 09/25/2066(1)(2)
|
412,478
|
|
|
36,698
|
Series 2021-2, 1.03%, 02/25/2066(1)(2)
|
33,602
|
|
|
175,894
|
Series 2021-8, 2.82%, 11/25/2066(1)(2)
|
161,144
|
|
|
372,931
|
Series 2021-7, 2.83%, 10/25/2066(1)(3)
|
341,713
|
|
|
268,385
|
Series 2022-1, 3.72%, 01/25/2067(1)(3)
|
253,399
|
|
|
3,339
|
VOLT XCV LLC Series 2021-NPL4, 6.24%,
03/27/2051(1)(3)
|
3,325
|
|
|
|
|
|
29,461,144
|
|
|
Total Asset-Backed & Commercial
Mortgage-Backed Securities
(cost $70,856,505)
|
$69,546,280
|
|
|
CORPORATE BONDS - 14.6%
|
|||
|
|
Aerospace & Defense - 0.2%
|
||
|
|
Boeing Co.
|
|
|
|
115,000
|
2.95%, 02/01/2030
|
$108,681
|
|
|
65,000
|
3.20%, 03/01/2029
|
62,738
|
|
|
10,000
|
3.65%, 03/01/2047
|
7,067
|
|
|
235,000
|
5.15%, 05/01/2030
|
238,801
|
|
|
284,000
|
5.71%, 05/01/2040
|
286,751
|
|
|
160,000
|
6.39%, 05/01/2031
|
170,880
|
|
|
|
|
|
874,918
|
|
|
Agriculture - 0.3%
|
||
|
95,000
|
BAT Capital Corp. 5.83%, 02/20/2031
|
99,388
|
|
|
|
Philip Morris International, Inc.
|
|
|
|
130,000
|
4.38%, 11/01/2027
|
130,297
|
|
|
250,000
|
4.75%, 11/01/2031
|
251,490
|
|
|
290,000
|
5.13%, 02/15/2030
|
296,175
|
|
|
240,000
|
5.13%, 02/13/2031
|
245,453
|
|
|
75,000
|
5.38%, 02/15/2033
|
77,137
|
|
|
15,000
|
5.63%, 11/17/2029
|
15,556
|
|
|
95,000
|
5.63%, 09/07/2033
|
99,222
|
|
|
|
|
|
1,214,718
|
|
|
Beverages - 0.4%
|
||
|
100,000
|
Bacardi Ltd./Bacardi-Martini BV 5.40%,
06/15/2033(1)
|
99,108
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 14.6% - (continued)
|
|||
|
|
Beverages - 0.4% - (continued)
|
||
|
|
Keurig Dr. Pepper, Inc.
|
|
|
|
$ 356,000
|
2.25%, 03/15/2031
|
$315,673
|
|
|
20,000
|
3.20%, 05/01/2030
|
18,819
|
|
|
9,000
|
3.80%, 05/01/2050
|
6,324
|
|
|
130,000
|
3.95%, 04/15/2029
|
127,676
|
|
|
170,000
|
4.05%, 04/15/2032
|
161,370
|
|
|
225,000
|
4.60%, 05/15/2030
|
223,437
|
|
|
45,000
|
5.15%, 05/15/2035
|
44,051
|
|
|
107,000
|
5.20%, 03/15/2031
|
108,321
|
|
|
194,000
|
5.30%, 03/15/2034
|
193,391
|
|
|
|
|
|
1,298,170
|
|
|
Commercial Banks - 2.8%
|
||
|
200,000
|
Banco Santander SA 4.87%, 04/15/2031
|
199,089
|
|
|
|
Bank of America Corp.
|
|
|
|
25,000
|
1.90%, 07/23/2031, (1.90% fixed rate until
07/23/2030; 6 mo. USD SOFR + 1.53%
thereafter)(2)
|
22,302
|
|
|
110,000
|
1.92%, 10/24/2031, (1.92% fixed rate until
10/24/2030; 6 mo. USD SOFR + 1.37%
thereafter)(2)
|
97,526
|
|
|
405,000
|
2.69%, 04/22/2032, (2.69% fixed rate until
04/22/2031; 6 mo. USD SOFR + 1.32%
thereafter)(2)
|
367,497
|
|
|
20,000
|
5.46%, 05/09/2036, (5.46% fixed rate until
05/09/2035; 6 mo. USD SOFR + 1.64%
thereafter)(2)
|
20,417
|
|
|
315,000
|
Bank of New York Mellon Corp. 4.03%,
01/22/2030, (4.03% fixed rate until
01/22/2029; 6 mo. USD SOFR + 0.63%
thereafter)(2)
|
311,717
|
|
|
400,000
|
CaixaBank SA 4.82%, 04/22/2032, (4.82% fixed
rate until 04/22/2031; 6 mo. USD SOFR +
1.21% thereafter)(1)(2)
|
397,406
|
|
|
|
Citigroup, Inc.
|
|
|
|
15,000
|
2.98%, 11/05/2030, (2.98% fixed rate until
11/05/2029; 6 mo. USD SOFR + 1.42%
thereafter)(2)
|
14,193
|
|
|
445,000
|
4.50%, 09/11/2031, (4.50% fixed rate until
09/11/2030; 6 mo. USD SOFR + 1.17%
thereafter)(2)
|
440,019
|
|
|
22,000
|
6.27%, 11/17/2033, (6.27% fixed rate until
11/17/2032; 6 mo. USD SOFR + 2.34%
thereafter)(2)
|
23,517
|
|
|
|
Goldman Sachs Group, Inc.
|
|
|
|
345,000
|
1.99%, 01/27/2032, (1.99% fixed rate until
01/27/2031; 6 mo. USD SOFR + 1.09%
thereafter)(2)
|
303,556
|
|
|
121,000
|
2.60%, 02/07/2030
|
112,749
|
|
|
55,000
|
4.69%, 10/23/2030, (4.69% fixed rate until
10/23/2029; 6 mo. USD SOFR + 1.14%
thereafter)(2)
|
54,999
|
|
|
25,000
|
4.73%, 01/28/2031, 3 mo. USD SOFR
+1.08%(2)
|
25,052
|
|
|
40,000
|
5.05%, 07/23/2030, (5.05% fixed rate until
07/23/2029; 6 mo. USD SOFR + 1.21%
thereafter)(2)
|
40,460
|
|
|
50,000
|
5.07%, 01/21/2037, (5.07% fixed rate until
01/21/2036; 6 mo. USD SOFR + 1.19%
thereafter)(2)
|
48,882
|
|
|
840,000
|
5.09%, 04/20/2034, (5.09% fixed rate until
04/20/2033; 6 mo. USD SOFR + 1.34%
thereafter)(2)
|
838,020
|
|
|
95,000
|
5.21%, 01/28/2031, (5.21% fixed rate until
01/28/2030; 6 mo. USD SOFR + 1.08%
thereafter)(2)
|
96,524
|
|
|
|
10
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 14.6% - (continued)
|
|||
|
|
Commercial Banks - 2.8% - (continued)
|
||
|
$ 275,000
|
5.22%, 04/23/2031, (5.22% fixed rate until
04/23/2030; 6 mo. USD SOFR + 1.58%
thereafter)(2)
|
$279,475
|
|
|
15,000
|
5.56%, 11/19/2045, (5.56% fixed rate until
11/19/2044; 6 mo. USD SOFR + 1.58%
thereafter)(2)
|
14,436
|
|
|
|
HSBC Holdings PLC
|
|
|
|
200,000
|
2.85%, 06/04/2031, (2.85% fixed rate until
06/04/2030; 6 mo. USD SOFR + 2.39%
thereafter)(2)
|
185,245
|
|
|
200,000
|
4.62%, 11/06/2031, (4.62% fixed rate until
11/06/2030; 6 mo. USD SOFR + 1.19%
thereafter)(2)
|
198,131
|
|
|
325,000
|
4.68%, 03/10/2032, (4.68% fixed rate until
03/10/2031; 6 mo. USD SOFR + 1.21%
thereafter)(2)
|
321,273
|
|
|
225,000
|
5.13%, 03/03/2031, (5.13% fixed rate until
03/03/2030; 6 mo. USD SOFR + 1.29%
thereafter)(2)
|
227,827
|
|
|
|
JP Morgan Chase & Co.
|
|
|
|
249,000
|
1.95%, 02/04/2032, (1.95% fixed rate until
02/04/2031; 6 mo. USD SOFR + 1.07%
thereafter)(2)
|
219,707
|
|
|
215,000
|
2.55%, 11/08/2032, (2.55% fixed rate until
11/08/2031; 6 mo. USD SOFR + 1.18%
thereafter)(2)
|
191,327
|
|
|
20,000
|
2.58%, 04/22/2032, (2.58% fixed rate until
04/22/2031; 3 mo. USD Term SOFR +
1.25% thereafter)(2)
|
18,096
|
|
|
175,000
|
4.26%, 10/22/2031, (4.26% fixed rate until
10/22/2030; 6 mo. USD SOFR + 0.93%
thereafter)(2)
|
172,165
|
|
|
520,000
|
4.51%, 10/22/2028, (4.51% fixed rate until
10/22/2027; 6 mo. USD SOFR + 0.86%
thereafter)(2)
|
520,598
|
|
|
165,000
|
4.91%, 07/25/2033, (4.91% fixed rate until
07/25/2032; 6 mo. USD SOFR + 2.08%
thereafter)(2)
|
165,481
|
|
|
240,000
|
5.00%, 07/22/2030, (5.00% fixed rate until
07/22/2029; 6 mo. USD SOFR + 1.13%
thereafter)(2)
|
242,959
|
|
|
475,000
|
5.10%, 04/22/2031, (5.10% fixed rate until
04/22/2030; 6 mo. USD SOFR + 1.44%
thereafter)(2)
|
483,926
|
|
|
100,000
|
5.14%, 01/24/2031, (5.14% fixed rate until
01/24/2030; 6 mo. USD SOFR + 1.01%
thereafter)(2)
|
101,777
|
|
|
50,000
|
5.19%, 02/05/2037, (5.19% fixed rate until
02/05/2036; 6 mo. USD SOFR + 1.30%
thereafter)(2)
|
49,188
|
|
|
120,000
|
5.34%, 01/23/2035, (5.34% fixed rate until
01/23/2034; 6 mo. USD SOFR + 1.62%
thereafter)(2)
|
121,633
|
|
|
175,000
|
5.58%, 04/22/2030, (5.58% fixed rate until
04/22/2029; 6 mo. USD SOFR + 1.16%
thereafter)(2)
|
179,910
|
|
|
155,000
|
6.09%, 10/23/2029, (6.09% fixed rate until
10/23/2028; 6 mo. USD SOFR + 1.57%
thereafter)(2)
|
160,705
|
|
|
|
Morgan Stanley
|
|
|
|
22,000
|
1.79%, 02/13/2032, (1.79% fixed rate until
02/13/2031; 6 mo. USD SOFR + 1.03%
thereafter)(2)
|
19,149
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 14.6% - (continued)
|
|||
|
|
Commercial Banks - 2.8% - (continued)
|
||
|
$ 40,000
|
1.93%, 04/28/2032, (1.93% fixed rate until
04/28/2031; 6 mo. USD SOFR + 1.02%
thereafter)(2)
|
$34,786
|
|
|
332,000
|
2.70%, 01/22/2031, (2.70% fixed rate until
01/22/2030; 6 mo. USD SOFR + 1.14%
thereafter)(2)
|
308,859
|
|
|
25,000
|
2.94%, 01/21/2033, (2.94% fixed rate until
01/21/2032; 6 mo. USD SOFR + 1.29%
thereafter)(2)
|
22,553
|
|
|
100,000
|
3.77%, 01/24/2029, (3.77% fixed rate until
01/24/2028; 3 mo. USD Term SOFR +
1.40% thereafter)(2)
|
98,738
|
|
|
141,000
|
3.97%, 07/22/2038(2)
|
123,797
|
|
|
80,000
|
4.24%, 01/09/2030, (4.24% fixed rate until
01/09/2029; 6 mo. USD SOFR + 0.80%
thereafter)(2)
|
79,184
|
|
|
45,000
|
4.36%, 10/22/2031, (4.36% fixed rate until
10/22/2030; 6 mo. USD SOFR + 1.07%
thereafter)(2)
|
44,198
|
|
|
305,000
|
4.71%, 03/12/2032, (4.71% fixed rate until
03/12/2031; 6 mo. USD SOFR + 1.20%
thereafter)(2)
|
302,647
|
|
|
170,000
|
4.81%, 04/16/2032, (4.81% fixed rate until
04/16/2031; 6 mo. USD SOFR + 1.18%
thereafter)(2)
|
169,584
|
|
|
90,000
|
5.23%, 01/15/2031, (5.23% fixed rate until
01/15/2030; 6 mo. USD SOFR + 1.11%
thereafter)(2)
|
91,492
|
|
|
120,000
|
5.30%, 04/10/2037, (5.30% fixed rate until
04/10/2036; 6 mo. USD SOFR + 1.41%
thereafter)(2)
|
119,280
|
|
|
225,000
|
5.45%, 07/20/2029, (5.45% fixed rate until
07/20/2028; 6 mo. USD SOFR + 1.63%
thereafter)(2)
|
229,135
|
|
|
235,000
|
5.66%, 04/18/2030, (5.66% fixed rate until
04/18/2029; 6 mo. USD SOFR + 1.26%
thereafter)(2)
|
241,398
|
|
|
180,000
|
5.83%, 04/19/2035, (5.83% fixed rate until
04/19/2034; 6 mo. USD SOFR + 1.58%
thereafter)(2)
|
187,280
|
|
|
475,000
|
Morgan Stanley Private Bank NA 4.21%,
02/08/2030, (4.21% fixed rate until
02/08/2029; 6 mo. USD SOFR + 0.76%
thereafter)(2)
|
469,789
|
|
|
|
Wells Fargo & Co.
|
|
|
|
75,000
|
4.48%, 04/04/2031, (4.48% fixed rate until
04/04/2030; 3 mo. USD Term SOFR +
4.03% thereafter)(2)
|
74,460
|
|
|
178,000
|
5.24%, 01/24/2031, (5.24% fixed rate until
01/24/2030; 6 mo. USD SOFR + 1.11%
thereafter)(2)
|
181,454
|
|
|
150,000
|
6.30%, 10/23/2029, (6.30% fixed rate until
10/23/2028; 6 mo. USD SOFR + 1.79%
thereafter)(2)
|
156,139
|
|
|
|
|
|
10,221,706
|
|
|
Commercial Services - 0.1%
|
||
|
355,000
|
Element Fleet Management Corp. 4.64%,
11/24/2030(1)
|
352,338
|
|
|
|
Diversified Financial Services - 0.3%
|
||
|
360,000
|
Intercontinental Exchange, Inc. 2.65%,
09/15/2040
|
261,739
|
|
|
|
Synchrony Financial
|
|
|
|
35,000
|
2.88%, 10/28/2031
|
30,755
|
|
|
|
11
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 14.6% - (continued)
|
|||
|
|
Diversified Financial Services - 0.3% - (continued)
|
||
|
$ 155,000
|
4.95%, 02/25/2032, (4.95% fixed rate until
02/25/2031; 6 mo. USD SOFR + 1.53%
thereafter)(2)
|
$151,432
|
|
|
410,000
|
5.45%, 03/06/2031, (5.45% fixed rate until
03/06/2030; 6 mo. USD SOFR + 1.68%
thereafter)(2)
|
411,115
|
|
|
245,000
|
6.00%, 07/29/2036, (6.00% fixed rate until
07/29/2035; 6 mo. USD SOFR + 2.07%
thereafter)(2)
|
243,757
|
|
|
|
|
|
1,098,798
|
|
|
Electric - 3.2%
|
||
|
|
Alabama Power Co.
|
|
|
|
55,000
|
3.45%, 10/01/2049
|
38,360
|
|
|
97,000
|
4.15%, 08/15/2044
|
79,135
|
|
|
245,000
|
4.30%, 03/15/2031
|
242,356
|
|
|
145,000
|
Arizona Public Service Co. 5.70%, 08/15/2034
|
149,919
|
|
|
210,000
|
CenterPoint Energy, Inc. 5.40%, 06/01/2029
|
215,355
|
|
|
65,000
|
Cleco Corporate Holdings LLC 3.38%,
09/15/2029
|
60,896
|
|
|
|
Consolidated Edison Co. of New York, Inc.
|
|
|
|
195,000
|
3.20%, 12/01/2051
|
127,073
|
|
|
80,000
|
5.50%, 03/15/2055
|
75,824
|
|
|
130,000
|
5.75%, 11/15/2055
|
127,272
|
|
|
|
Duke Energy Corp.
|
|
|
|
715,000
|
2.55%, 06/15/2031
|
645,839
|
|
|
70,000
|
3.50%, 06/15/2051
|
46,892
|
|
|
120,000
|
3.75%, 09/01/2046
|
88,394
|
|
|
370,000
|
4.95%, 09/15/2035
|
362,003
|
|
|
|
Duke Energy Indiana LLC
|
|
|
|
45,000
|
2.75%, 04/01/2050
|
27,224
|
|
|
82,000
|
3.25%, 10/01/2049
|
55,203
|
|
|
40,000
|
6.45%, 04/01/2039
|
43,568
|
|
|
70,000
|
Duke Energy Ohio, Inc. 5.55%, 03/15/2054
|
66,659
|
|
|
|
Duke Energy Progress LLC
|
|
|
|
40,000
|
2.00%, 08/15/2031
|
35,312
|
|
|
40,000
|
4.20%, 08/15/2045
|
32,494
|
|
|
|
Edison International
|
|
|
|
240,000
|
4.80%, 03/15/2031
|
234,272
|
|
|
250,000
|
6.25%, 03/15/2030
|
258,421
|
|
|
|
Eversource Energy
|
|
|
|
55,000
|
4.45%, 12/15/2030
|
54,195
|
|
|
220,000
|
5.13%, 05/15/2033
|
220,292
|
|
|
|
FirstEnergy Corp.
|
|
|
|
70,000
|
3.90%, 07/15/2027(3)
|
69,515
|
|
|
45,000
|
4.85%, 07/15/2047(3)
|
38,677
|
|
|
|
Georgia Power Co.
|
|
|
|
85,000
|
4.00%, 10/01/2028
|
84,472
|
|
|
71,000
|
4.30%, 03/15/2042
|
61,325
|
|
|
35,000
|
4.55%, 03/15/2030
|
35,099
|
|
|
219,000
|
Oglethorpe Power Corp. 5.05%, 10/01/2048
|
191,886
|
|
|
|
Ohio Edison Co.
|
|
|
|
85,000
|
4.95%, 12/15/2029(1)
|
85,905
|
|
|
50,000
|
5.50%, 01/15/2033(1)
|
51,286
|
|
|
|
Ohio Power Co.
|
|
|
|
350,000
|
5.00%, 06/01/2033
|
349,389
|
|
|
20,000
|
5.65%, 06/01/2034
|
20,542
|
|
|
|
Pacific Gas & Electric Co.
|
|
|
|
730,000
|
2.50%, 02/01/2031
|
656,677
|
|
|
175,000
|
3.25%, 06/01/2031
|
161,978
|
|
|
102,000
|
3.30%, 08/01/2040
|
76,306
|
|
|
85,000
|
3.50%, 08/01/2050
|
56,148
|
|
|
90,000
|
4.50%, 07/01/2040
|
77,398
|
|
|
35,000
|
4.60%, 06/15/2043
|
28,832
|
|
|
50,000
|
4.75%, 02/15/2044
|
41,779
|
|
|
65,000
|
5.05%, 10/15/2032
|
64,804
|
|
|
300,000
|
5.80%, 05/15/2034
|
307,658
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 14.6% - (continued)
|
|||
|
|
Electric - 3.2% - (continued)
|
||
|
$ 170,000
|
6.10%, 01/15/2029
|
$175,680
|
|
|
75,000
|
6.10%, 10/15/2055
|
72,362
|
|
|
94,000
|
6.15%, 01/15/2033
|
98,539
|
|
|
75,000
|
6.15%, 03/01/2055
|
72,815
|
|
|
145,000
|
6.75%, 01/15/2053
|
151,401
|
|
|
31,000
|
6.95%, 03/15/2034
|
33,981
|
|
|
|
PacifiCorp
|
|
|
|
21,000
|
4.13%, 01/15/2049
|
15,837
|
|
|
35,000
|
5.10%, 04/15/2031
|
35,372
|
|
|
165,000
|
5.45%, 04/15/2033
|
168,100
|
|
|
70,000
|
5.80%, 04/15/2036
|
71,850
|
|
|
|
Pinnacle West Capital Corp.
|
|
|
|
139,000
|
4.90%, 05/15/2028
|
140,204
|
|
|
180,000
|
5.15%, 05/15/2030
|
183,061
|
|
|
245,000
|
Public Service Co. of Oklahoma 5.20%,
01/15/2035
|
243,308
|
|
|
|
Public Service Enterprise Group, Inc.
|
|
|
|
20,000
|
5.45%, 04/01/2034
|
20,438
|
|
|
95,000
|
6.13%, 10/15/2033
|
100,836
|
|
|
405,000
|
Puget Energy, Inc. 5.73%, 03/15/2035
|
407,405
|
|
|
|
Southern California Edison Co.
|
|
|
|
77,000
|
2.25%, 06/01/2030
|
69,739
|
|
|
20,000
|
2.75%, 02/01/2032
|
17,791
|
|
|
242,000
|
3.65%, 02/01/2050
|
165,523
|
|
|
40,000
|
3.90%, 03/15/2043
|
30,300
|
|
|
99,000
|
4.00%, 04/01/2047
|
73,092
|
|
|
270,000
|
4.13%, 03/01/2048
|
201,586
|
|
|
85,000
|
4.65%, 10/01/2043
|
70,905
|
|
|
195,000
|
5.15%, 06/01/2029
|
197,306
|
|
|
100,000
|
5.45%, 03/01/2035
|
99,839
|
|
|
131,000
|
5.45%, 06/01/2052
|
115,726
|
|
|
173,000
|
5.70%, 03/01/2053
|
158,465
|
|
|
25,000
|
5.90%, 03/01/2055
|
23,536
|
|
|
|
Southern Co.
|
|
|
|
123,000
|
3.70%, 04/30/2030
|
119,180
|
|
|
70,000
|
4.85%, 03/15/2035
|
68,114
|
|
|
335,000
|
Southern Power Co. 4.90%, 10/01/2035
|
324,409
|
|
|
|
Southwestern Electric Power Co.
|
|
|
|
80,000
|
5.20%, 04/01/2036
|
78,924
|
|
|
110,000
|
5.30%, 04/01/2033
|
111,556
|
|
|
125,000
|
5.90%, 04/01/2056
|
121,414
|
|
|
|
Virginia Electric & Power Co.
|
|
|
|
92,000
|
2.45%, 12/15/2050
|
51,548
|
|
|
20,000
|
4.20%, 05/15/2045
|
16,191
|
|
|
230,000
|
4.90%, 09/15/2035
|
225,012
|
|
|
585,000
|
4.95%, 03/15/2036
|
570,309
|
|
|
70,000
|
5.00%, 01/15/2034
|
69,903
|
|
|
170,000
|
5.15%, 03/15/2035
|
170,097
|
|
|
39,000
|
5.45%, 04/01/2053
|
36,549
|
|
|
160,000
|
WEC Energy Group, Inc. 4.75%, 01/15/2028
|
160,892
|
|
|
|
Xcel Energy, Inc.
|
|
|
|
30,000
|
4.60%, 06/01/2032
|
29,531
|
|
|
255,000
|
5.60%, 04/15/2035
|
259,701
|
|
|
55,000
|
6.50%, 07/01/2036
|
59,282
|
|
|
|
|
|
11,434,243
|
|
|
Energy-Alternate Sources - 0.0%
|
||
|
84,000
|
Pacific Gas & Electric Co. 4.30%, 03/15/2045
|
65,736
|
|
|
|
Environmental Control - 0.0%
|
||
|
90,000
|
Veralto Corp. 5.50%, 09/18/2026
|
90,291
|
|
|
|
Food - 0.5%
|
||
|
125,000
|
Campbell's Co. 5.40%, 03/21/2034
|
121,526
|
|
|
|
JBS NV/JBS USA Foods Group Holdings,
Inc./JBS USA Food Co. Holdings
|
|
|
|
60,000
|
5.50%, 01/15/2036
|
59,809
|
|
|
85,000
|
5.63%, 03/10/2037(1)
|
84,844
|
|
|
|
12
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 14.6% - (continued)
|
|||
|
|
Food - 0.5% - (continued)
|
||
|
$ 45,000
|
6.25%, 03/01/2056
|
$43,423
|
|
|
525,000
|
6.38%, 04/15/2066
|
505,474
|
|
|
19,000
|
6.75%, 03/15/2034
|
20,649
|
|
|
85,000
|
7.25%, 11/15/2053
|
92,677
|
|
|
|
Mars, Inc.
|
|
|
|
70,000
|
5.00%, 03/01/2032(1)
|
71,012
|
|
|
115,000
|
5.20%, 03/01/2035(1)
|
116,026
|
|
|
630,000
|
5.65%, 05/01/2045(1)
|
619,905
|
|
|
|
|
|
1,735,345
|
|
|
Gas - 0.4%
|
||
|
|
Brooklyn Union Gas Co.
|
|
|
|
25,000
|
4.27%, 03/15/2048(1)
|
19,502
|
|
|
185,000
|
4.87%, 08/05/2032(1)
|
181,188
|
|
|
105,000
|
CenterPoint Energy Resources Corp. 1.75%,
10/01/2030
|
93,285
|
|
|
395,000
|
MPLX LP 5.50%, 06/01/2034
|
399,829
|
|
|
|
NiSource, Inc.
|
|
|
|
150,000
|
1.70%, 02/15/2031
|
130,723
|
|
|
15,000
|
4.38%, 05/15/2047
|
12,207
|
|
|
20,000
|
5.35%, 04/01/2034
|
20,429
|
|
|
220,000
|
5.35%, 07/15/2035
|
222,013
|
|
|
50,000
|
5.40%, 06/30/2033
|
51,243
|
|
|
|
Southern California Gas Co.
|
|
|
|
75,000
|
5.75%, 06/01/2053
|
72,867
|
|
|
150,000
|
6.00%, 06/15/2055
|
150,448
|
|
|
195,000
|
Southern Co. Gas Capital Corp. 5.10%,
09/15/2035
|
192,739
|
|
|
|
|
|
1,546,473
|
|
|
Healthcare - Products - 0.2%
|
||
|
245,000
|
Augusta SpinCo Corp. 4.66%, 03/23/2031
|
244,467
|
|
|
456,000
|
Thermo Fisher Scientific, Inc. 4.47%,
10/07/2032
|
450,765
|
|
|
|
|
|
695,232
|
|
|
Healthcare - Services - 0.1%
|
||
|
|
Humana, Inc.
|
|
|
|
95,000
|
5.55%, 05/01/2035
|
94,394
|
|
|
175,000
|
5.95%, 03/15/2034
|
179,525
|
|
|
|
|
|
273,919
|
|
|
Insurance - 0.3%
|
||
|
165,000
|
Allstate Corp. 4.50%, 06/15/2043
|
141,251
|
|
|
|
Athene Global Funding
|
|
|
|
167,000
|
2.55%, 11/19/2030(1)
|
148,469
|
|
|
95,000
|
5.53%, 07/11/2031(1)
|
95,425
|
|
|
|
Athene Holding Ltd.
|
|
|
|
50,000
|
3.50%, 01/15/2031
|
46,524
|
|
|
180,000
|
5.88%, 01/15/2034(5)
|
181,090
|
|
|
100,000
|
Equitable Holdings, Inc. 4.57%, 02/15/2029(1)
|
99,090
|
|
|
|
GA Global Funding Trust
|
|
|
|
150,000
|
4.50%, 09/18/2030(1)
|
145,593
|
|
|
185,000
|
5.20%, 12/09/2031(1)
|
182,593
|
|
|
135,000
|
Global Atlantic Fin Co. 3.13%, 06/15/2031(1)
|
120,160
|
|
|
|
|
|
1,160,195
|
|
|
Internet - 0.8%
|
||
|
|
Alphabet, Inc.
|
|
|
|
310,000
|
5.30%, 05/15/2065
|
282,350
|
|
|
375,000
|
5.70%, 11/15/2075
|
358,891
|
|
|
75,000
|
5.75%, 02/15/2066
|
72,970
|
|
|
615,000
|
Amazon.com, Inc. 5.95%, 03/13/2066
|
606,596
|
|
|
|
Meta Platforms, Inc.
|
|
|
|
400,000
|
5.55%, 08/15/2064
|
353,092
|
|
|
25,000
|
5.63%, 11/15/2055
|
22,955
|
|
|
535,000
|
5.75%, 11/15/2065
|
486,804
|
|
|
825,000
|
6.45%, 05/15/2066
|
823,230
|
|
|
|
|
|
3,006,888
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 14.6% - (continued)
|
|||
|
|
Investment Company Security - 0.3%
|
||
|
|
Ares Strategic Income Fund
|
|
|
|
$ 310,000
|
5.15%, 01/15/2031(1)
|
$295,960
|
|
|
340,000
|
5.55%, 04/15/2031(1)
|
329,803
|
|
|
270,000
|
5.80%, 09/09/2030(1)
|
265,460
|
|
|
|
Blackstone Private Credit Fund
|
|
|
|
160,000
|
5.95%, 07/16/2029
|
160,099
|
|
|
175,000
|
5.95%, 05/15/2031
|
172,112
|
|
|
|
|
|
1,223,434
|
|
|
Machinery-Diversified - 0.2%
|
||
|
|
Westinghouse Air Brake Technologies Corp.
|
|
|
|
265,000
|
4.90%, 05/29/2030
|
268,155
|
|
|
260,000
|
5.61%, 03/11/2034
|
268,124
|
|
|
|
|
|
536,279
|
|
|
Media - 0.6%
|
||
|
|
Charter Communications Operating LLC/Charter
Communications Operating Capital
|
|
|
|
75,000
|
3.50%, 03/01/2042
|
51,060
|
|
|
20,000
|
3.70%, 04/01/2051
|
12,271
|
|
|
83,000
|
3.85%, 04/01/2061
|
47,961
|
|
|
380,000
|
4.40%, 12/01/2061
|
242,614
|
|
|
275,000
|
5.13%, 07/01/2049
|
210,164
|
|
|
105,000
|
5.38%, 05/01/2047
|
83,933
|
|
|
575,000
|
5.75%, 04/01/2048
|
481,304
|
|
|
60,000
|
6.38%, 10/23/2035
|
60,623
|
|
|
|
Comcast Corp.
|
|
|
|
45,000
|
2.80%, 01/15/2051
|
25,563
|
|
|
380,000
|
2.89%, 11/01/2051
|
218,229
|
|
|
25,000
|
3.45%, 02/01/2050
|
16,399
|
|
|
132,000
|
3.75%, 04/01/2040
|
106,959
|
|
|
150,000
|
4.65%, 02/15/2033
|
148,224
|
|
|
5,000
|
4.95%, 10/15/2058
|
4,074
|
|
|
|
Cox Communications, Inc.
|
|
|
|
50,000
|
5.80%, 12/15/2053(1)
|
42,202
|
|
|
235,000
|
5.95%, 09/01/2054(1)
|
201,910
|
|
|
271,000
|
Paramount Global 5.85%, 09/01/2043
|
198,932
|
|
|
|
|
|
2,152,422
|
|
|
Mining - 0.2%
|
||
|
100,000
|
BHP Billiton Finance USA Ltd. 4.90%,
02/28/2033
|
100,518
|
|
|
|
Glencore Funding LLC
|
|
|
|
120,000
|
5.37%, 04/04/2029(1)
|
122,397
|
|
|
105,000
|
5.63%, 04/04/2034(1)
|
107,914
|
|
|
335,000
|
6.38%, 10/06/2030(1)
|
355,117
|
|
|
90,000
|
6.50%, 10/06/2033(1)
|
97,669
|
|
|
|
|
|
783,615
|
|
|
Oil & Gas - 0.4%
|
||
|
190,000
|
Aker BP ASA 5.25%, 10/30/2035(1)
|
185,567
|
|
|
|
ConocoPhillips Co.
|
|
|
|
316,000
|
3.80%, 03/15/2052
|
230,988
|
|
|
118,000
|
4.03%, 03/15/2062
|
85,011
|
|
|
25,000
|
5.70%, 09/15/2063
|
24,109
|
|
|
|
Diamondback Energy, Inc.
|
|
|
|
270,000
|
5.40%, 04/18/2034
|
275,486
|
|
|
200,000
|
5.90%, 04/18/2064
|
192,935
|
|
|
35,000
|
6.25%, 03/15/2053
|
35,738
|
|
|
187,000
|
Equinor ASA 3.63%, 04/06/2040
|
155,910
|
|
|
200,000
|
Saudi Arabian Oil Co. 6.38%, 06/02/2055(1)
|
203,772
|
|
|
|
|
|
1,389,516
|
|
|
Pharmaceuticals - 0.2%
|
||
|
|
Cardinal Health, Inc.
|
|
|
|
360,000
|
4.50%, 09/15/2030
|
358,139
|
|
|
300,000
|
5.00%, 11/15/2029
|
304,424
|
|
|
|
13
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 14.6% - (continued)
|
|||
|
|
Pharmaceuticals - 0.2% - (continued)
|
||
|
|
Viatris, Inc.
|
|
|
|
$ 36,000
|
3.85%, 06/22/2040
|
$27,652
|
|
|
275,000
|
4.00%, 06/22/2050
|
182,513
|
|
|
|
|
|
872,728
|
|
|
Pipelines - 0.7%
|
||
|
|
Columbia Pipelines Holding Co. LLC
|
|
|
|
130,000
|
5.00%, 11/17/2032(1)
|
129,104
|
|
|
118,000
|
5.10%, 10/01/2031(1)
|
119,044
|
|
|
|
Energy Transfer LP
|
|
|
|
78,000
|
5.00%, 05/15/2050
|
65,158
|
|
|
25,000
|
5.15%, 03/15/2045
|
21,918
|
|
|
21,000
|
7.50%, 07/01/2038
|
24,254
|
|
|
200,000
|
Greensaif Pipelines Bidco SARL 6.13%,
02/23/2038(6)
|
207,085
|
|
|
|
MPLX LP
|
|
|
|
5,000
|
4.80%, 02/15/2031
|
5,006
|
|
|
270,000
|
5.00%, 01/15/2033
|
268,729
|
|
|
25,000
|
5.20%, 03/01/2047
|
22,047
|
|
|
15,000
|
5.50%, 02/15/2049
|
13,608
|
|
|
|
ONEOK, Inc.
|
|
|
|
190,000
|
4.75%, 10/15/2031
|
188,835
|
|
|
495,000
|
5.05%, 11/01/2034
|
485,196
|
|
|
45,000
|
6.00%, 06/15/2035
|
47,118
|
|
|
80,000
|
6.05%, 09/01/2033
|
84,150
|
|
|
50,000
|
6.63%, 09/01/2053
|
51,493
|
|
|
|
Targa Resources Corp.
|
|
|
|
110,000
|
4.35%, 04/15/2031
|
107,823
|
|
|
195,000
|
5.40%, 07/30/2036
|
193,954
|
|
|
130,000
|
Targa Resources Partners LP/Targa Resources
Partners Finance Corp. 4.00%, 01/15/2032
|
123,769
|
|
|
|
Williams Cos., Inc.
|
|
|
|
160,000
|
5.15%, 03/15/2036
|
157,695
|
|
|
90,000
|
5.65%, 03/15/2033
|
93,201
|
|
|
|
|
|
2,409,187
|
|
|
Real Estate Investment Trusts - 0.2%
|
||
|
|
Prologis Targeted U.S. Logistics Fund LP
|
|
|
|
110,000
|
4.25%, 01/15/2031(1)
|
107,860
|
|
|
285,000
|
4.75%, 01/15/2036(1)
|
273,166
|
|
|
360,000
|
Realty Income Corp. 4.50%, 02/01/2033
|
352,005
|
|
|
|
|
|
733,031
|
|
|
Semiconductors - 0.6%
|
||
|
|
Broadcom, Inc.
|
|
|
|
310,000
|
4.20%, 10/15/2030
|
306,156
|
|
|
65,000
|
5.05%, 07/12/2029
|
66,260
|
|
|
210,000
|
5.20%, 07/15/2035
|
211,812
|
|
|
310,000
|
Foundry JV Holdco LLC 6.15%, 01/25/2032(1)
|
326,136
|
|
|
|
Intel Corp.
|
|
|
|
26,000
|
2.00%, 08/12/2031
|
22,687
|
|
|
294,000
|
3.25%, 11/15/2049
|
189,713
|
|
|
478,000
|
3.73%, 12/08/2047
|
342,309
|
|
|
105,000
|
4.10%, 05/11/2047
|
79,780
|
|
|
95,000
|
4.75%, 03/25/2050
|
78,059
|
|
|
35,000
|
5.30%, 05/15/2036
|
34,853
|
|
|
15,000
|
5.63%, 02/10/2043
|
14,448
|
|
|
25,000
|
5.70%, 02/10/2053
|
23,385
|
|
|
395,000
|
NVIDIA Corp. 3.50%, 04/01/2040
|
329,353
|
|
|
|
|
|
2,024,951
|
|
|
Software - 0.9%
|
||
|
|
Oracle Corp.
|
|
|
|
306,000
|
3.60%, 04/01/2040
|
220,654
|
|
|
290,000
|
3.60%, 04/01/2050
|
173,630
|
|
|
33,000
|
3.65%, 03/25/2041
|
23,411
|
|
|
267,000
|
3.80%, 11/15/2037
|
211,126
|
|
|
215,000
|
3.95%, 03/25/2051
|
135,145
|
|
|
93,000
|
4.30%, 07/08/2034
|
82,722
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 14.6% - (continued)
|
|||
|
|
Software - 0.9% - (continued)
|
||
|
$ 440,000
|
4.70%, 09/27/2034
|
$401,828
|
|
|
460,000
|
4.80%, 09/26/2032
|
437,398
|
|
|
295,000
|
5.35%, 05/04/2033
|
286,849
|
|
|
115,000
|
5.50%, 09/27/2064
|
87,489
|
|
|
70,000
|
5.55%, 02/06/2053
|
55,683
|
|
|
25,000
|
5.95%, 09/26/2055
|
20,941
|
|
|
135,000
|
6.00%, 08/03/2055
|
113,183
|
|
|
40,000
|
6.10%, 09/26/2065
|
33,045
|
|
|
85,000
|
6.13%, 08/03/2065
|
70,866
|
|
|
530,000
|
6.85%, 02/04/2066
|
486,960
|
|
|
|
Salesforce, Inc.
|
|
|
|
285,000
|
6.40%, 03/15/2046
|
284,855
|
|
|
165,000
|
6.70%, 03/15/2066
|
165,675
|
|
|
|
|
|
3,291,460
|
|
|
Telecommunications - 0.5%
|
||
|
100,000
|
AT&T, Inc. 6.30%, 10/30/2066
|
98,634
|
|
|
275,000
|
HUT 8 DC LLC 6.19%, 11/15/2042(1)
|
277,276
|
|
|
375,000
|
Orange SA 4.25%, 01/13/2031(1)
|
367,786
|
|
|
730,000
|
Road Michigan Property Owner I LLC 7.50%,
03/30/2045(1)
|
730,000
|
|
|
265,000
|
T-Mobile USA, Inc. 2.55%, 02/15/2031
|
240,957
|
|
|
|
|
|
1,714,653
|
|
|
Transportation - 0.1%
|
||
|
|
Fedex Freight Holding Co., Inc.
|
|
|
|
175,000
|
4.65%, 03/15/2031(1)
|
172,544
|
|
|
155,000
|
4.95%, 03/15/2033(1)
|
152,243
|
|
|
|
|
|
324,787
|
|
|
Trucking & Leasing - 0.1%
|
||
|
|
Penske Truck Leasing Co. LP/PTL Finance
Corp.
|
|
|
|
115,000
|
4.55%, 01/15/2031(1)
|
113,805
|
|
|
65,000
|
6.05%, 08/01/2028(1)
|
66,850
|
|
|
|
|
|
180,655
|
|
|
Total Corporate Bonds
(cost $53,819,865)
|
$52,705,688
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 1.0%
|
|||
|
|
Israel - 0.2%
|
||
|
|
Israel Government International Bonds
|
|
|
|
200,000
|
2.75%, 07/03/2030
|
$184,351
|
|
|
305,000
|
5.38%, 03/12/2029
|
310,270
|
|
|
200,000
|
State of Israel 3.80%, 05/13/2060(6)
|
130,911
|
|
|
|
|
|
625,532
|
|
|
Mexico - 0.7%
|
||
|
|
Mexico Government International Bonds
|
|
|
|
1,365,000
|
5.38%, 03/22/2033
|
1,338,450
|
|
|
315,000
|
5.38%, 03/22/2033
|
308,889
|
|
|
340,000
|
5.63%, 02/09/2034
|
335,638
|
|
|
200,000
|
5.63%, 09/22/2035
|
195,300
|
|
|
265,000
|
6.00%, 05/07/2036
|
265,729
|
|
|
|
|
|
2,444,006
|
|
|
Poland - 0.0%
|
||
|
110,000
|
Republic of Poland Government International
Bonds 6.13%, 04/14/2056
|
110,299
|
|
|
|
Romania - 0.1%
|
||
|
470,000
|
Romania Government International Bonds
3.63%, 03/27/2032(6)
|
421,749
|
|
|
|
Total Foreign Government Obligations
(cost $3,602,280)
|
|
$3,601,586
|
|
|
14
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 31.3%
|
|||
|
|
Mortgage-Backed Agencies - 31.3%
|
||
|
|
Federal Home Loan Mortgage Corp. - 6.9%
|
||
|
$ 222,939
|
0.96%, 11/25/2030(2)(4)
|
$7,326
|
|
|
1,655
|
1.13%, 12/15/2027
|
1,627
|
|
|
1,386,602
|
1.20%, 06/25/2030(2)(4)
|
54,042
|
|
|
93,764
|
1.23%, 01/25/2030(2)(4)
|
3,306
|
|
|
2,110
|
1.25%, 12/15/2027
|
2,072
|
|
|
1,505,514
|
1.47%, 06/25/2030(2)(4)
|
70,076
|
|
|
371,925
|
1.50%, 12/25/2050
|
302,059
|
|
|
1,072,706
|
1.53%, 05/25/2030(2)(4)
|
53,123
|
|
|
1,198,636
|
1.67%, 05/25/2030(2)(4)
|
63,302
|
|
|
161,212
|
1.75%, 04/25/2030(2)(4)
|
8,510
|
|
|
259,239
|
2.00%, 05/01/2036
|
238,269
|
|
|
892,282
|
2.00%, 11/01/2036
|
819,508
|
|
|
329,749
|
2.00%, 07/25/2050
|
290,455
|
|
|
185,766
|
2.00%, 10/01/2051
|
150,362
|
|
|
1,947,665
|
2.00%, 12/01/2051
|
1,565,841
|
|
|
2,911,879
|
2.00%, 01/01/2052
|
2,343,192
|
|
|
14,767
|
2.50%, 12/15/2042
|
13,550
|
|
|
807,645
|
2.50%, 09/01/2051
|
677,072
|
|
|
865,000
|
4.16%, 10/25/2030(2)
|
860,548
|
|
|
870,000
|
4.29%, 07/25/2030(2)
|
869,819
|
|
|
860,000
|
4.34%, 09/25/2030(2)
|
861,934
|
|
|
1,366,055
|
4.50%, 08/01/2052
|
1,318,323
|
|
|
5,123,401
|
4.50%, 05/01/2053
|
4,954,410
|
|
|
635,916
|
5.00%, 08/25/2052
|
636,937
|
|
|
1,563,468
|
5.00%, 11/01/2052
|
1,543,771
|
|
|
567,676
|
5.50%, 06/01/2040
|
580,412
|
|
|
84,893
|
5.50%, 11/25/2043, 30 day USD SOFR
Average + 1.85%(1)(2)
|
85,395
|
|
|
3,364,299
|
5.50%, 05/01/2054
|
3,384,799
|
|
|
640,000
|
6.55%, 04/25/2042, 30 day USD SOFR
Average + 2.90%(1)(2)
|
650,972
|
|
|
270,000
|
7.00%, 05/25/2042, 30 day USD SOFR
Average + 3.35%(1)(2)
|
276,075
|
|
|
400,000
|
7.05%, 10/25/2041, 30 day USD SOFR
Average + 3.40%(1)(2)
|
404,348
|
|
|
380,000
|
7.20%, 08/25/2042, 30 day USD SOFR
Average + 3.55%(1)(2)
|
391,502
|
|
|
165,000
|
7.65%, 07/25/2042, 30 day USD SOFR
Average + 4.00%(1)(2)
|
170,557
|
|
|
700,000
|
8.15%, 06/25/2042, 30 day USD SOFR
Average + 4.50%(1)(2)
|
726,467
|
|
|
540,000
|
8.65%, 03/25/2052, 30 day USD SOFR
Average + 5.00%(1)(2)
|
566,775
|
|
|
|
|
|
24,946,736
|
|
|
Federal National Mortgage Association - 6.2%
|
||
|
9,144
|
1.25%, 02/25/2028
|
8,970
|
|
|
1,777
|
1.50%, 09/25/2027
|
1,751
|
|
|
779,178
|
2.00%, 02/01/2037
|
715,625
|
|
|
121,217
|
2.00%, 10/01/2051
|
97,576
|
|
|
437,798
|
2.00%, 11/01/2051
|
350,541
|
|
|
4,893,596
|
2.00%, 04/01/2052
|
3,928,343
|
|
|
824,365
|
2.50%, 02/01/2052
|
691,071
|
|
|
1,069,832
|
2.50%, 05/01/2052
|
897,710
|
|
|
844,431
|
2.50%, 06/01/2052
|
711,497
|
|
|
810,028
|
2.50%, 07/01/2052
|
681,218
|
|
|
701,375
|
2.50%, 08/01/2052
|
590,586
|
|
|
282,000
|
3.00%, 12/25/2045
|
255,759
|
|
|
286,647
|
3.00%, 10/25/2046
|
259,327
|
|
|
313,000
|
3.00%, 03/25/2047
|
274,833
|
|
|
157,754
|
3.00%, 03/01/2050
|
139,709
|
|
|
1,596,161
|
3.00%, 11/01/2051
|
1,409,839
|
|
|
401,454
|
3.50%, 08/01/2043
|
378,641
|
|
|
735,000
|
4.50%, 12/25/2041
|
727,482
|
|
|
2,506,641
|
4.50%, 12/01/2052
|
2,422,155
|
|
|
1,954,732
|
5.50%, 07/01/2040
|
1,997,436
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 31.3% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 31.3% - (continued)
|
||
|
|
Federal National Mortgage Association - 6.2% - (continued)
|
||
|
$ 1,992,463
|
5.50%, 06/01/2053
|
$2,009,337
|
|
|
3,715,932
|
5.50%, 04/01/2054
|
3,737,390
|
|
|
|
|
|
22,286,796
|
|
|
Government National Mortgage Association - 5.9%
|
||
|
1,876,784
|
2.00%, 12/20/2050
|
1,544,801
|
|
|
1,260,000
|
2.00%, 05/20/2056(7)
|
1,036,413
|
|
|
1,699,205
|
2.50%, 03/20/2051
|
1,456,199
|
|
|
1,041,071
|
2.50%, 07/20/2051
|
892,185
|
|
|
2,529,723
|
2.50%, 09/20/2051
|
2,169,190
|
|
|
1,586,849
|
3.00%, 04/20/2051
|
1,414,498
|
|
|
343,908
|
3.00%, 05/20/2051
|
306,553
|
|
|
1,729,044
|
3.00%, 10/20/2051
|
1,541,227
|
|
|
2,598,866
|
3.50%, 08/20/2052
|
2,369,976
|
|
|
641,732
|
5.00%, 09/20/2051
|
640,236
|
|
|
2,422,720
|
5.00%, 09/20/2054
|
2,404,981
|
|
|
2,642,040
|
5.50%, 12/20/2054
|
2,667,390
|
|
|
2,799,444
|
5.50%, 02/20/2056
|
2,821,811
|
|
|
|
|
|
21,265,460
|
|
|
Uniform Mortgage-Backed Security - 12.3%
|
||
|
1,300,000
|
2.50%, 05/01/2041(7)
|
1,223,173
|
|
|
1,008,000
|
2.50%, 05/01/2056(7)
|
843,900
|
|
|
750,000
|
3.00%, 03/01/2037(7)
|
714,167
|
|
|
3,410,000
|
3.00%, 05/01/2056(7)
|
2,984,747
|
|
|
2,850,000
|
3.50%, 05/01/2056(7)
|
2,593,889
|
|
|
1,670,000
|
4.00%, 05/01/2039(7)
|
1,626,934
|
|
|
1,990,000
|
4.50%, 05/01/2056(7)
|
1,913,993
|
|
|
990,000
|
4.50%, 06/01/2056(7)
|
951,492
|
|
|
4,210,000
|
5.00%, 05/01/2056(7)
|
4,147,230
|
|
|
11,705,000
|
5.50%, 05/01/2056(7)
|
11,763,225
|
|
|
10,210,000
|
6.00%, 05/01/2056(7)
|
10,422,700
|
|
|
5,090,000
|
6.00%, 06/01/2056(7)
|
5,190,669
|
|
|
|
|
|
44,376,119
|
|
|
Total U.S. Government Agencies
(cost $114,462,600)
|
|
$112,875,111
|
|
U.S. GOVERNMENT SECURITIES - 43.7%
|
|||
|
|
U.S. Treasury Securities - 43.7%
|
||
|
|
U.S. Treasury Bonds - 16.2%
|
||
|
4,350,000
|
1.13%, 08/15/2040
|
$2,694,621
|
|
|
2,830,000
|
1.38%, 11/15/2040
|
1,810,095
|
|
|
1,010,000
|
1.38%, 08/15/2050
|
487,917
|
|
|
2,455,000
|
1.63%, 11/15/2050
|
1,265,284
|
|
|
2,675,000
|
1.88%, 02/15/2041
|
1,839,898
|
|
|
630,000
|
2.00%, 02/15/2050
|
362,521
|
|
|
4,290,000
|
2.00%, 08/15/2051
|
2,411,617
|
|
|
1,248,000
|
2.38%, 11/15/2049
|
786,045
|
|
|
1,105,000
|
2.50%, 02/15/2045
|
767,457
|
|
|
2,415,000
|
2.50%, 05/15/2046
|
1,642,860
|
|
|
1,935,000
|
2.88%, 05/15/2052
|
1,324,568
|
|
|
4,720,000
|
3.00%, 02/15/2047
|
3,483,212
|
|
|
1,525,000
|
3.00%, 02/15/2048
|
1,112,416
|
|
|
6,105,000
|
3.00%, 08/15/2052
|
4,284,231
|
|
|
1,080,000
|
3.13%, 05/15/2048
|
803,925
|
|
|
385,000
|
3.38%, 11/15/2048
|
298,300
|
|
|
1,825,000
|
3.63%, 08/15/2043
|
1,545,262
|
|
|
1,840,000
|
3.63%, 02/15/2044
|
1,548,978
|
|
|
1,464,000
|
3.75%, 11/15/2043
|
1,257,839
|
|
|
4,090,000
|
3.88%, 08/15/2040
|
3,719,504
|
|
|
900,000
|
4.13%, 08/15/2044
|
809,156
|
|
|
350,000
|
4.25%, 05/15/2039
|
337,340
|
|
|
1,475,000
|
4.25%, 02/15/2054
|
1,304,568
|
|
|
510,000
|
4.50%, 08/15/2039
|
501,952
|
|
|
1,305,000
|
4.50%, 02/15/2044
|
1,236,589
|
|
|
3,570,000
|
4.50%, 11/15/2054
|
3,293,186
|
|
|
|
15
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT SECURITIES - 43.7% - (continued)
|
|||
|
|
U.S. Treasury Securities - 43.7% - (continued)
|
||
|
|
U.S. Treasury Bonds - 16.2% - (continued)
|
||
|
$ 1,100,000
|
4.63%, 02/15/2046
|
$1,050,500
|
|
|
2,595,000
|
5.00%, 05/15/2045
|
2,605,137
|
|
|
12,850,000
|
6.13%, 08/15/2029
|
13,707,336
|
|
|
|
|
|
58,292,314
|
|
|
U.S. Treasury Inflation-Indexed Bonds - 1.2%
|
||
|
42,634
|
0.63%, 02/15/2043(8)
|
31,522
|
|
|
3,043,788
|
0.75%, 02/15/2042(8)
|
2,354,914
|
|
|
749,255
|
0.75%, 02/15/2045(8)
|
539,408
|
|
|
1,591,202
|
1.38%, 02/15/2044(8)
|
1,320,556
|
|
|
|
|
|
4,246,400
|
|
|
U.S. Treasury Notes - 26.3%
|
||
|
8,143,000
|
0.38%, 09/30/2027
|
7,756,844
|
|
|
1,200,000
|
1.50%, 02/15/2030
|
1,097,109
|
|
|
1,860,000
|
1.88%, 02/28/2029
|
1,759,153
|
|
|
4,565,000
|
2.75%, 08/15/2032
|
4,210,143
|
|
|
9,873,000
|
3.50%, 09/30/2026(9)
|
9,862,732
|
|
|
1,275,000
|
3.50%, 03/15/2029
|
1,260,955
|
|
|
2,785,000
|
3.63%, 12/31/2030
|
2,739,417
|
|
|
5,100,000
|
3.75%, 05/15/2028
|
5,085,855
|
|
|
4,300,000
|
3.75%, 05/31/2030
|
4,262,207
|
|
|
4,235,000
|
3.75%, 12/31/2030
|
4,186,529
|
|
|
1,175,000
|
3.75%, 02/28/2033
|
1,143,973
|
|
|
3,555,000
|
4.00%, 05/31/2030
|
3,557,222
|
|
|
2,800,000
|
4.00%, 07/31/2032
|
2,776,156
|
|
|
5,100,000
|
4.00%, 02/15/2034
|
5,009,555
|
|
|
4,150,000
|
4.00%, 11/15/2035
|
4,027,445
|
|
|
1,700,000
|
4.13%, 03/31/2031
|
1,706,906
|
|
|
5,190,000
|
4.25%, 01/31/2030
|
5,240,481
|
|
|
7,990,000
|
4.25%, 11/15/2034(10)
|
7,950,050
|
|
|
6,650,000
|
4.38%, 01/31/2032
|
6,739,619
|
|
|
5,136,000
|
4.38%, 05/15/2034
|
5,167,899
|
|
|
2,695,000
|
4.50%, 11/15/2033
|
2,738,478
|
|
|
6,510,000
|
4.63%, 05/31/2031
|
6,680,888
|
|
|
|
|
|
94,959,616
|
|
|
Total U.S. Government Securities
(cost $166,689,616)
|
|
$157,498,330
|
|
|
Total Long-Term Investments
(cost $409,430,866)
|
|
$396,226,995
|
|
SHORT-TERM INVESTMENTS - 0.7%
|
|||
|
|
Repurchase Agreements - 0.6%
|
||
|
2,224,179
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 04/30/2026 at 3.64%,
due on 05/01/2026 with a maturity value of
$2,224,404; collateralized by U.S. Treasury
Note at 3.88%, maturing 06/15/2028, with
a market value of $2,268,775
|
$2,224,179
|
|
|
|
Securities Lending Collateral - 0.1%
|
||
|
188,100
|
State Street Navigator Securities Lending
Government Money Market Portfolio,
3.62%(11)
|
188,100
|
|
|
|
Total Short-Term Investments
(cost $2,412,279)
|
$2,412,279
|
|
|
|
Total Investments
(cost $411,843,145)
|
110.6
%
|
$398,639,274
|
|
|
Other Assets and Liabilities
|
(10.6
)%
|
(38,247,217
)
|
|
|
Net Assets
|
100.0
%
|
$360,392,057
|
|
(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 April 30, 2026, the aggregate value of these securities was
$75,195,205, representing 20.9% of net assets.
|
|
(2)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain
variable rate securities are not based on a published reference rate and spread but
are determined by the issuer or agent and are based on current market conditions;
these securities do not indicate a reference rate and spread in the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(3)
|
Security is a “step-up” bond where coupon increases or steps up at a
predetermined date. Rate shown is current coupon rate.
|
|
(4)
|
Securities disclosed are interest-only strips.
|
|
(5)
|
Represents entire or partial securities on loan.
|
|
(6)
|
Security is exempt from registration under Regulation S under the Securities Act of
1933, which exempts from registration securities offered and sold outside of the
United States. Security may not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933. At April 30, 2026, the aggregate value
of these securities was $759,745, representing 0.2% of net assets.
|
|
(7)
|
Represents or includes a TBA transaction.
|
|
(8)
|
The principal amount for these securities are adjusted for inflation and the interest
payments equal a fixed percentage of the inflation-adjusted principal amount.
|
|
(9)
|
All, or a portion of the security, was pledged as collateral in connection with
centrally cleared swap contracts. As of April 30, 2026, the market value of
securities pledged was $1,598,336.
|
|
(10)
|
All, or a portion of the security, was pledged as collateral in connection with
futures contracts. As of April 30, 2026, the market value of securities pledged was
$268,650.
|
|
(11)
|
Current yield as of period end.
|
|
|
16
|
|
|
Futures Contracts Outstanding at April 30, 2026
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Long position contracts:
|
||||
|
U.S. Treasury 10-Year Ultra Future
|
30
|
06/18/2026
|
$3,385,781
|
$(31,804
)
|
|
U.S. Treasury Ultra Bond Future
|
56
|
06/18/2026
|
6,441,750
|
(229,207
)
|
|
Total
|
|
|
|
$(261,011
)
|
|
Short position contracts:
|
||||
|
U.S. Treasury 2-Year Note Future
|
(22)
|
06/30/2026
|
$(4,556,750
)
|
$12,675
|
|
U.S. Treasury 5-Year Note Future
|
(103)
|
06/30/2026
|
(11,107,102
)
|
11,871
|
|
U.S. Treasury 10-Year Note Future
|
(28)
|
06/18/2026
|
(3,096,625
)
|
31,085
|
|
U.S. Treasury Long Bond Future
|
(3)
|
06/18/2026
|
(338,531
)
|
3,652
|
|
Total
|
|
|
|
$59,283
|
|
Total futures contracts
|
$(201,728
)
|
|||
|
TBA Sale Commitments Outstanding at April 30, 2026
|
||||
|
Description
|
Principal
Amount
|
Maturity
Date
|
Market
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
Uniform Mortgage-Backed Security, 4.00%
|
$790,000
|
05/01/2056
|
$(740,779
)
|
$1,018
|
|
Total TBA sale commitments (proceeds receivable $741,797)
|
$(740,779
)
|
$1,018
|
||
|
At April 30, 2026, the aggregate market value of TBA Sale Commitments represents (0.2)%
of total net assets.
|
||||
|
Centrally Cleared Credit Default Swap Contracts Outstanding at April 30, 2026
|
|||||||||
|
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.IG.S45.V1
|
USD
|
5,125,000
|
1.00%
|
12/20/2030
|
Quarterly
|
$98,335
|
$—
|
$113,339
|
$15,004
|
|
Total
|
$98,335
|
$—
|
$113,339
|
$15,004
|
|||||
|
Credit default swaps on single-name issues:
|
|
|
|
|
|
|
|
|
|
|
Sell protection:
|
|
||||||||
|
Oracle Corp. (BBB)
|
USD
|
920,000
|
1.00%
|
12/20/2030
|
Quarterly
|
$—
|
$(9,703
)
|
$(23,487
)
|
$(13,784
)
|
|
Total
|
|
|
|
|
|
$—
|
$(9,703
)
|
$(23,487
)
|
$(13,784
)
|
|
Total centrally cleared credit default swap contracts
|
$98,335
|
$(9,703
)
|
$89,852
|
$1,220
|
|||||
|
(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 April 30, 2026
|
|||||||||
|
Payments made
by Fund
|
Payments received
by Fund
|
Notional
Amount
|
Expiration
Date
|
Periodic
Payment
Frequency
|
Upfront
Premiums
Paid
|
Upfront
Premiums
Received
|
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
4.16% Fixed
|
12 Mo. USD SOFR
|
USD
|
4,060,000
|
03/19/2045
|
Annual
|
$—
|
$(7,345
)
|
$27,157
|
$34,502
|
|
4.16% Fixed
|
12 Mo. USD SOFR
|
USD
|
375,000
|
04/09/2046
|
Annual
|
—
|
(382
)
|
3,217
|
3,599
|
|
2.97% Fixed
|
12 Mo. USD SOFR
|
USD
|
1,330,000
|
03/15/2053
|
Annual
|
2,799
|
—
|
269,849
|
267,050
|
|
2.88% Fixed
|
12 Mo. USD SOFR
|
USD
|
380,000
|
03/15/2053
|
Annual
|
3,996
|
—
|
82,664
|
78,668
|
|
3.25% Fixed
|
12 Mo. USD SOFR
|
USD
|
495,000
|
06/21/2053
|
Annual
|
—
|
(4,878
)
|
81,064
|
85,942
|
|
3.59% Fixed
|
12 Mo. USD SOFR
|
USD
|
570,000
|
09/20/2053
|
Annual
|
2,236
|
—
|
59,286
|
57,050
|
|
Total centrally cleared interest rate swaps contracts
|
$9,031
|
$(12,605
)
|
$523,237
|
$526,811
|
|||||
|
|
17
|
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Asset-Backed & Commercial Mortgage-Backed Securities
|
$69,546,280
|
$—
|
$69,546,280
|
$—
|
|
Corporate Bonds
|
52,705,688
|
—
|
52,705,688
|
—
|
|
Foreign Government Obligations
|
3,601,586
|
—
|
3,601,586
|
—
|
|
U.S. Government Agencies
|
112,875,111
|
—
|
112,875,111
|
—
|
|
U.S. Government Securities
|
157,498,330
|
—
|
157,498,330
|
—
|
|
Short-Term Investments
|
2,412,279
|
188,100
|
2,224,179
|
—
|
|
Futures Contracts(2)
|
59,283
|
59,283
|
—
|
—
|
|
Swaps - Credit Default(2)
|
15,004
|
—
|
15,004
|
—
|
|
Swaps - Interest Rate(2)
|
526,811
|
—
|
526,811
|
—
|
|
Total
|
$399,240,372
|
$247,383
|
$398,992,989
|
$—
|
|
Liabilities
|
|
|
|
|
|
Futures Contracts(2)
|
$(261,011
)
|
$(261,011
)
|
$—
|
$—
|
|
Swaps - Credit Default(2)
|
(13,784
)
|
—
|
(13,784
)
|
—
|
|
TBA Sale Commitments
|
(740,779
)
|
—
|
(740,779
)
|
—
|
|
Total
|
$(1,015,574
)
|
$(261,011
)
|
$(754,563
)
|
$—
|
|
(1)
|
For the period ended April 30, 2026, 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.
|
|
|
18
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 46.2%
|
|||
|
|
Aerospace & Defense - 0.5%
|
||
|
$ 120,000
|
Boeing Co. 6.39%, 05/01/2031
|
$128,160
|
|
|
135,000
|
Hexcel Corp. 4.90%, 05/15/2031
|
135,072
|
|
|
|
|
|
263,232
|
|
|
Agriculture - 0.4%
|
||
|
120,000
|
Bunge Ltd. Finance Corp. 4.80%, 03/19/2033
|
119,258
|
|
|
125,000
|
Philip Morris International, Inc. 5.13%, 02/15/2030
|
127,662
|
|
|
|
|
|
246,920
|
|
|
Airlines - 0.3%
|
||
|
175,000
|
American Airlines Pass-Through Trust 5.25%,
05/10/2040
|
174,781
|
|
|
|
Auto Manufacturers - 1.6%
|
||
|
|
American Honda Finance Corp.
|
|
|
|
150,000
|
1.80%, 01/13/2031
|
130,786
|
|
|
130,000
|
5.20%, 04/08/2033
|
129,894
|
|
|
|
Ford Motor Co.
|
|
|
|
205,000
|
3.25%, 02/12/2032
|
179,884
|
|
|
195,000
|
4.75%, 01/15/2043
|
150,609
|
|
|
310,000
|
Hyundai Capital America 5.00%, 04/07/2031(1)
|
310,820
|
|
|
|
|
|
901,993
|
|
|
Auto Parts & Equipment - 0.1%
|
||
|
35,000
|
American Axle & Manufacturing, Inc. 6.38%,
10/15/2032(1)
|
34,937
|
|
|
|
Biotechnology - 0.1%
|
||
|
75,000
|
Royalty Pharma PLC 2.15%, 09/02/2031
|
65,759
|
|
|
|
Chemicals - 1.7%
|
||
|
|
FMC Corp.
|
|
|
|
25,000
|
3.45%, 10/01/2029
|
22,623
|
|
|
35,000
|
4.50%, 10/01/2049
|
21,864
|
|
|
|
OCP SA
|
|
|
|
200,000
|
3.75%, 06/23/2031(2)
|
183,614
|
|
|
200,000
|
6.74%, 04/22/2031, (6.74% fixed rate until
04/22/2031; 5 yr. USD CMT + 2.75%
thereafter)(1)(3)(4)
|
199,133
|
|
|
200,000
|
7.37%, 04/22/2036, (7.37% fixed rate until
04/22/2036; 5 yr. USD CMT + 3.22%
thereafter)(1)(3)(4)(5)
|
198,752
|
|
|
|
Olin Corp.
|
|
|
|
25,000
|
5.00%, 02/01/2030
|
24,230
|
|
|
50,000
|
6.63%, 04/01/2033(1)
|
49,533
|
|
|
200,000
|
Olympus Water U.S. Holding Corp. 6.75%,
08/01/2032(1)
|
193,855
|
|
|
25,000
|
SCIH Salt Holdings, Inc. 4.88%, 05/01/2028(1)
|
24,755
|
|
|
|
|
|
918,359
|
|
|
Commercial Banks - 6.4%
|
||
|
400,000
|
Banco Bilbao Vizcaya Argentaria SA 4.97%,
05/08/2031
|
400,145
|
|
|
200,000
|
Banco Santander SA 4.87%, 04/15/2031
|
199,089
|
|
|
320,000
|
Bank of New York Mellon Corp. 4.54%,
04/23/2032, (4.54% fixed rate until 04/23/2031;
6 mo. USD SOFR + 0.90% thereafter)(4)
|
318,775
|
|
|
420,000
|
BNP Paribas SA 7.20%, 04/17/2036, (7.20% fixed
rate until 04/17/2036; 5 yr. USD CMT + 2.94%
thereafter)(1)(3)(4)
|
422,464
|
|
|
280,000
|
Deutsche Bank AG 5.06%, 04/14/2032, (5.06%
fixed rate until 04/14/2031; 6 mo. USD SOFR +
1.41% thereafter)(4)
|
279,688
|
|
|
|
Goldman Sachs Group, Inc.
|
|
|
|
265,000
|
5.09%, 04/20/2034, (5.09% fixed rate until
04/20/2033; 6 mo. USD SOFR + 1.34%
thereafter)(4)
|
264,375
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 46.2% - (continued)
|
|||
|
|
Commercial Banks - 6.4% - (continued)
|
||
|
$ 145,000
|
5.39%, 02/02/2041, (5.39% fixed rate until
02/02/2036; 5 yr. USD CMT + 1.18%
thereafter)(4)
|
$141,137
|
|
|
270,000
|
JP Morgan Chase & Co. 5.15%, 04/23/2037,
(5.15% fixed rate until 04/23/2036; 6 mo. USD
SOFR + 1.26% thereafter)(4)
|
268,387
|
|
|
270,000
|
Manufacturers & Traders Trust Co. 4.55%,
04/18/2030, (4.55% fixed rate until 04/18/2029;
6 mo. USD SOFR + 0.94% thereafter)(4)
|
269,295
|
|
|
|
Morgan Stanley
|
|
|
|
210,000
|
5.30%, 04/10/2037, (5.30% fixed rate until
04/10/2036; 6 mo. USD SOFR + 1.41%
thereafter)(4)
|
208,740
|
|
|
75,000
|
5.31%, 01/18/2041, (5.31% fixed rate until
01/18/2036; 5 yr. USD CMT + 1.17%
thereafter)(4)
|
72,991
|
|
|
250,000
|
Royal Bank of Canada 4.40%, 04/17/2030, (4.40%
fixed rate until 04/17/2029; 6 mo. USD SOFR +
0.84% thereafter)(4)
|
248,950
|
|
|
410,000
|
UBS Group AG 7.00%, 02/05/2035, (7.00% fixed
rate until 02/05/2035; 5 yr. USD ICE Swap +
3.30% thereafter)(1)(3)(4)
|
417,239
|
|
|
|
|
|
3,511,275
|
|
|
Commercial Services - 0.7%
|
||
|
70,000
|
ADT Security Corp. 4.88%, 07/15/2032(1)
|
66,666
|
|
|
30,000
|
Block, Inc. 3.50%, 06/01/2031
|
27,244
|
|
|
190,000
|
Element Fleet Management Corp. 4.64%,
11/24/2030(1)
|
188,575
|
|
|
130,000
|
S&P Global, Inc. 2.90%, 03/01/2032
|
118,709
|
|
|
|
|
|
401,194
|
|
|
Construction Materials - 0.5%
|
||
|
60,000
|
Builders FirstSource, Inc. 4.25%, 02/01/2032(1)
|
55,658
|
|
|
165,000
|
Miter Brands Acquisition Holdco, Inc./MIWD
Borrower LLC 6.75%, 04/01/2032(1)
|
163,092
|
|
|
50,000
|
Standard Industries, Inc. 4.38%, 07/15/2030(1)
|
47,739
|
|
|
|
|
|
266,489
|
|
|
Diversified Financial Services - 2.9%
|
||
|
195,000
|
Aircastle Ltd./Aircastle Ireland DAC 5.00%,
05/15/2031(1)
|
193,698
|
|
|
305,000
|
American Express Co. 4.44%, 05/03/2030, 6 mo.
USD SOFR + 0.81%(4)
|
304,415
|
|
|
70,000
|
Azorra Finance Ltd. 6.25%, 02/15/2034(1)
|
67,259
|
|
|
50,000
|
Bread Financial Holdings, Inc. 6.75%,
05/15/2031(1)
|
51,082
|
|
|
65,000
|
Capital One Financial Corp. 4.72%, 01/30/2032,
(4.72% fixed rate until 01/30/2031; 6 mo. USD
SOFR + 1.15% thereafter)(4)
|
64,229
|
|
|
165,000
|
Freedom Mortgage Holdings LLC 6.88%,
05/01/2031(1)
|
159,157
|
|
|
|
OneMain Finance Corp.
|
|
|
|
145,000
|
4.00%, 09/15/2030
|
133,374
|
|
|
95,000
|
6.75%, 09/15/2033
|
93,442
|
|
|
60,000
|
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer,
Inc. 3.88%, 03/01/2031(1)
|
55,704
|
|
|
480,000
|
Synchrony Financial 4.95%, 02/25/2032, (4.95%
fixed rate until 02/25/2031; 6 mo. USD SOFR +
1.53% thereafter)(4)
|
468,950
|
|
|
|
|
|
1,591,310
|
|
|
Electric - 4.5%
|
||
|
65,000
|
Cleco Corporate Holdings LLC 3.38%, 09/15/2029
|
60,896
|
|
|
125,000
|
Dayton Power & Light Co. 4.55%, 08/15/2030
|
123,066
|
|
|
|
19
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 46.2% - (continued)
|
|||
|
|
Electric - 4.5% - (continued)
|
||
|
|
Dominion Energy, Inc.
|
|
|
|
$ 105,000
|
6.20%, 02/15/2056, (6.20% fixed rate until
11/15/2035; 5 yr. USD CMT + 2.01%
thereafter)(4)(5)
|
$105,194
|
|
|
100,000
|
6.88%, 02/01/2055, (6.88% fixed rate until
11/03/2029; 5 yr. USD CMT + 2.39%
thereafter)(4)
|
103,612
|
|
|
120,000
|
Edison International 5.00%, 05/05/2028
|
120,042
|
|
|
135,000
|
Electricite de France SA 5.25%, 04/22/2036(1)
|
132,650
|
|
|
141,000
|
EUSHI Finance, Inc. 6.25%, 04/01/2056, (6.25%
fixed rate until 01/01/2031; 5 yr. USD CMT +
2.51% thereafter)(4)
|
139,643
|
|
|
200,000
|
National Rural Utilities Cooperative Finance Corp.
4.40%, 05/11/2029
|
200,127
|
|
|
135,000
|
NRG Energy, Inc. 4.96%, 04/30/2031(1)
|
134,073
|
|
|
|
Pacific Gas & Electric Co.
|
|
|
|
275,000
|
2.50%, 02/01/2031
|
247,378
|
|
|
50,000
|
4.00%, 12/01/2046
|
36,815
|
|
|
131,000
|
4.25%, 03/15/2046
|
100,741
|
|
|
260,000
|
5.05%, 10/15/2032
|
259,217
|
|
|
110,000
|
PacifiCorp 4.25%, 03/15/2029
|
108,966
|
|
|
120,000
|
PG&E Corp. 6.85%, 09/15/2056, (6.85% fixed rate
until 06/15/2031; 5 yr. USD CMT + 3.23%
thereafter)(4)
|
119,976
|
|
|
15,000
|
Public Service Co. of Colorado 4.15%, 03/13/2029
|
14,918
|
|
|
200,000
|
ReNew Wind Energy AP2/ReNew Power Pvt Ltd.
other 9 Subsidiaries 4.50%, 07/14/2028(2)
|
192,767
|
|
|
204,000
|
Sempra 6.38%, 04/01/2056, (6.38% fixed rate until
01/01/2031; 5 yr. USD CMT + 2.63%
thereafter)(4)
|
206,328
|
|
|
|
Southern California Edison Co.
|
|
|
|
14,000
|
3.65%, 02/01/2050
|
9,576
|
|
|
111,000
|
4.00%, 04/01/2047
|
81,951
|
|
|
|
|
|
2,497,936
|
|
|
Electronics - 0.0%
|
||
|
25,000
|
Ingram Micro, Inc. 4.75%, 05/15/2029(1)
|
24,567
|
|
|
|
Energy-Alternate Sources - 0.2%
|
||
|
104,000
|
CenterPoint Energy, Inc. 7.00%, 02/15/2055,
(7.00% fixed rate until 11/15/2029; 5 yr. USD
CMT + 3.25% thereafter)(4)
|
107,290
|
|
|
|
Entertainment - 0.3%
|
||
|
150,000
|
Caesars Entertainment, Inc. 6.50%, 02/15/2032(1)
|
145,748
|
|
|
|
Food - 0.5%
|
||
|
20,000
|
Campbell's Co. 2.38%, 04/24/2030
|
18,018
|
|
|
125,000
|
Mars, Inc. 4.80%, 03/01/2030(1)
|
126,266
|
|
|
25,000
|
Post Holdings, Inc. 4.63%, 04/15/2030(1)
|
24,288
|
|
|
135,000
|
Sysco Corp. 4.40%, 07/25/2031
|
132,059
|
|
|
|
|
|
300,631
|
|
|
Forest Products & Paper - 0.4%
|
||
|
200,000
|
Georgia-Pacific LLC 4.40%, 05/15/2029(1)
|
199,726
|
|
|
|
Healthcare - Products - 0.2%
|
||
|
125,000
|
Thermo Fisher Scientific, Inc. 4.22%, 02/12/2031
|
123,498
|
|
|
|
Healthcare - Services - 0.6%
|
||
|
325,000
|
HCA, Inc. 4.70%, 05/15/2031
|
323,476
|
|
|
|
Home Builders - 0.3%
|
||
|
|
Ashton Woods USA LLC/Ashton Woods Finance
Co.
|
|
|
|
25,000
|
4.63%, 08/01/2029(1)
|
23,929
|
|
|
70,000
|
4.63%, 04/01/2030(1)
|
66,647
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 46.2% - (continued)
|
|||
|
|
Home Builders - 0.3% - (continued)
|
||
|
$ 55,000
|
6.88%, 08/01/2033(1)
|
$53,965
|
|
|
10,000
|
Century Communities, Inc. 3.88%, 08/15/2029(1)
|
9,470
|
|
|
|
|
|
154,011
|
|
|
Insurance - 2.2%
|
||
|
|
American National Group, Inc.
|
|
|
|
80,000
|
6.14%, 06/13/2032(1)
|
82,083
|
|
|
57,000
|
7.00%, 12/01/2055, (7.00% fixed rate until
12/01/2030; 5 yr. USD CMT + 3.18%
thereafter)(4)
|
55,702
|
|
|
120,000
|
Athene Global Funding 2.65%, 10/04/2031(1)
|
104,059
|
|
|
|
Athene Holding Ltd.
|
|
|
|
80,000
|
3.45%, 05/15/2052
|
49,020
|
|
|
170,000
|
3.95%, 05/25/2051
|
115,650
|
|
|
160,000
|
6.88%, 06/28/2055, (6.88% fixed rate until
03/28/2035; 5 yr. USD CMT + 2.58%
thereafter)(4)
|
155,266
|
|
|
40,000
|
CNO Financial Group, Inc. 6.45%, 06/15/2034
|
41,539
|
|
|
230,000
|
GA Global Funding Trust 2.90%, 01/06/2032(1)
|
200,770
|
|
|
210,000
|
Global Atlantic Fin Co. 6.75%, 03/15/2054(1)
|
198,404
|
|
|
75,000
|
Liberty Mutual Group, Inc. 4.30%, 02/01/2061(1)
|
47,623
|
|
|
130,000
|
Lincoln National Corp. 3.40%, 03/01/2032
|
118,513
|
|
|
65,000
|
MetLife, Inc. 6.35%, 03/15/2055, (6.35% fixed rate
until 03/15/2035; 5 yr. USD CMT + 2.08%
thereafter)(4)
|
66,538
|
|
|
|
|
|
1,235,167
|
|
|
Internet - 3.2%
|
||
|
125,000
|
Alphabet, Inc. 4.10%, 02/15/2031
|
123,533
|
|
|
125,000
|
Amazon.com, Inc. 4.25%, 03/13/2031
|
123,777
|
|
|
70,000
|
Go Daddy Operating Co. LLC/GD Finance Co., Inc.
3.50%, 03/01/2029(1)
|
65,415
|
|
|
|
Meta Platforms, Inc.
|
|
|
|
525,000
|
4.55%, 05/15/2031
|
524,879
|
|
|
150,000
|
4.55%, 08/15/2031
|
150,183
|
|
|
525,000
|
4.88%, 05/15/2033
|
524,765
|
|
|
255,000
|
6.30%, 05/15/2056
|
255,393
|
|
|
|
|
|
1,767,945
|
|
|
Investment Company Security - 1.1%
|
||
|
150,000
|
Goldman Sachs Private Credit Corp. 6.15%,
06/16/2031(1)(5)
|
148,738
|
|
|
|
HA Sustainable Infrastructure Capital, Inc.
|
|
|
|
140,000
|
6.15%, 01/15/2031
|
144,127
|
|
|
165,000
|
7.13%, 11/15/2056, (7.13% fixed rate until
08/17/2031; 5 yr. USD CMT + 3.48%
thereafter)(4)
|
166,564
|
|
|
131,000
|
HPS Corporate Lending Fund 5.85%, 06/05/2030
|
129,165
|
|
|
|
|
|
588,594
|
|
|
Iron/Steel - 0.1%
|
||
|
30,000
|
Commercial Metals Co. 3.88%, 02/15/2031
|
27,883
|
|
|
|
IT Services - 0.1%
|
||
|
65,000
|
Fortress Intermediate 3, Inc. 7.50%, 06/01/2031(1)
|
65,649
|
|
|
|
Leisure Time - 0.2%
|
||
|
|
NCL Corp. Ltd.
|
|
|
|
115,000
|
5.88%, 01/15/2031(1)
|
111,932
|
|
|
20,000
|
6.25%, 09/15/2033(1)
|
19,356
|
|
|
|
|
|
131,288
|
|
|
Lodging - 0.7%
|
||
|
200,000
|
Gohl Capital Holdings Ltd. 7.63%, 10/29/2031,
(7.63% fixed rate until 10/29/2031; 5 yr. USD
CMT + 3.71% thereafter)(2)(3)(4)
|
198,410
|
|
|
200,000
|
Studio City Finance Ltd. 5.00%, 01/15/2029(1)
|
190,606
|
|
|
|
|
|
389,016
|
|
|
20
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 46.2% - (continued)
|
|||
|
|
Machinery - Construction & Mining - 0.3%
|
||
|
$ 150,000
|
Caterpillar, Inc. 2.60%, 04/09/2030
|
$141,033
|
|
|
|
Media - 2.6%
|
||
|
|
Charter Communications Operating LLC/Charter
Communications Operating Capital
|
|
|
|
50,000
|
3.50%, 03/01/2042
|
34,040
|
|
|
295,000
|
3.70%, 04/01/2051
|
181,001
|
|
|
230,000
|
3.85%, 04/01/2061
|
132,904
|
|
|
100,000
|
3.90%, 06/01/2052
|
62,863
|
|
|
296,000
|
3.95%, 06/30/2062
|
172,952
|
|
|
314,000
|
4.40%, 12/01/2061
|
200,475
|
|
|
35,000
|
Grupo Televisa SAB 6.63%, 01/15/2040
|
30,448
|
|
|
|
Paramount Global
|
|
|
|
150,000
|
4.20%, 05/19/2032
|
131,085
|
|
|
60,000
|
4.38%, 03/15/2043
|
38,262
|
|
|
140,000
|
4.95%, 01/15/2031
|
132,063
|
|
|
37,000
|
4.95%, 05/19/2050
|
23,238
|
|
|
70,000
|
6.88%, 04/30/2036(5)
|
65,118
|
|
|
|
Univision Communications, Inc.
|
|
|
|
125,000
|
4.50%, 05/01/2029(1)
|
119,264
|
|
|
90,000
|
8.88%, 04/15/2033(1)
|
90,490
|
|
|
|
|
|
1,414,203
|
|
|
Mining - 1.2%
|
||
|
200,000
|
First Quantum Minerals Ltd. 6.38%, 02/15/2036(1)
|
196,613
|
|
|
135,000
|
Glencore Funding LLC 4.90%, 07/01/2031(1)
|
135,196
|
|
|
200,000
|
Ivanhoe Mines Ltd. 7.88%, 01/23/2030(2)
|
203,331
|
|
|
150,000
|
Rio Tinto Finance USA PLC 4.88%, 03/14/2030
|
152,231
|
|
|
|
|
|
687,371
|
|
|
Miscellaneous Manufacturing - 0.4%
|
||
|
200,000
|
Eaton Corp. 3.95%, 03/06/2029
|
197,993
|
|
|
35,000
|
Entegris, Inc. 4.75%, 04/15/2029(1)
|
34,729
|
|
|
|
|
|
232,722
|
|
|
Oil & Gas - 0.9%
|
||
|
125,000
|
ConocoPhillips Co. 4.70%, 01/15/2030
|
126,192
|
|
|
170,000
|
Continental Resources, Inc. 4.90%, 06/01/2044
|
136,320
|
|
|
120,000
|
Ecopetrol SA 4.63%, 11/02/2031
|
108,095
|
|
|
160,000
|
Petroleos Mexicanos 6.75%, 09/21/2047
|
134,763
|
|
|
|
|
|
505,370
|
|
|
Oil & Gas Services - 0.8%
|
||
|
|
Schlumberger Investment SA
|
|
|
|
150,000
|
4.55%, 05/07/2031
|
149,740
|
|
|
275,000
|
4.80%, 05/07/2033
|
274,285
|
|
|
|
|
|
424,025
|
|
|
Packaging & Containers - 0.6%
|
||
|
165,000
|
Clydesdale Acquisition Holdings, Inc. 6.75%,
04/15/2032(1)
|
155,235
|
|
|
70,000
|
Graphic Packaging International LLC 3.50%,
03/01/2029(1)
|
66,422
|
|
|
120,000
|
Sword Purchaser LLC 8.25%, 04/15/2033(1)
|
122,779
|
|
|
|
|
|
344,436
|
|
|
Pharmaceuticals - 0.5%
|
||
|
125,000
|
Bristol-Myers Squibb Co. 5.10%, 02/22/2031
|
128,349
|
|
|
125,000
|
Pfizer Investment Enterprises Pte. Ltd. 4.65%,
05/19/2030
|
125,921
|
|
|
|
|
|
254,270
|
|
|
Pipelines - 1.3%
|
||
|
|
Enbridge, Inc.
|
|
|
|
80,000
|
4.85%, 03/27/2031
|
80,329
|
|
|
50,000
|
7.20%, 06/27/2054, (7.20% fixed rate until
03/27/2034; 5 yr. USD CMT + 2.97%
thereafter)(4)
|
53,460
|
|
|
113,000
|
Energy Transfer LP 6.50%, 02/15/2056, (6.50%
fixed rate until 11/15/2030; 5 yr. USD CMT +
2.68% thereafter)(4)
|
113,304
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 46.2% - (continued)
|
|||
|
|
Pipelines - 1.3% - (continued)
|
||
|
$ 125,000
|
Enterprise Products Operating LLC 4.60%,
01/15/2031
|
$125,206
|
|
|
|
TransCanada PipeLines Ltd.
|
|
|
|
145,000
|
6.13%, 10/17/2056, (6.13% fixed rate until
07/17/2031; 5 yr. USD CMT + 2.25%
thereafter)(4)
|
145,635
|
|
|
170,000
|
6.38%, 10/17/2056, (6.38% fixed rate until
07/17/2036; 5 yr. USD CMT + 2.12%
thereafter)(4)
|
171,305
|
|
|
|
|
|
689,239
|
|
|
Real Estate Investment Trusts - 1.2%
|
||
|
75,000
|
American Tower Corp. 2.70%, 04/15/2031
|
68,204
|
|
|
|
Brandywine Operating Partnership LP
|
|
|
|
25,000
|
4.55%, 10/01/2029
|
23,255
|
|
|
245,000
|
6.13%, 01/15/2031
|
228,018
|
|
|
75,000
|
Equinix Europe 2 Financing Corp. LLC 4.60%,
11/15/2030
|
74,483
|
|
|
50,000
|
Iron Mountain Information Management Services,
Inc. 5.00%, 07/15/2032(1)
|
48,278
|
|
|
|
Iron Mountain, Inc.
|
|
|
|
155,000
|
4.50%, 02/15/2031(1)
|
148,951
|
|
|
55,000
|
4.88%, 09/15/2029(1)
|
54,240
|
|
|
|
|
|
645,429
|
|
|
Retail - 0.6%
|
||
|
|
Advance Auto Parts, Inc.
|
|
|
|
35,000
|
3.50%, 03/15/2032(5)
|
30,771
|
|
|
19,000
|
3.90%, 04/15/2030
|
17,822
|
|
|
40,000
|
Asbury Automotive Group, Inc. 5.00%,
02/15/2032(1)
|
38,357
|
|
|
130,000
|
Specialty Building Products Holdings LLC/SBP
Finance Corp. 7.75%, 10/15/2029(1)
|
114,737
|
|
|
135,000
|
Walmart, Inc. 4.00%, 04/30/2029
|
134,847
|
|
|
|
|
|
336,534
|
|
|
Semiconductors - 1.5%
|
||
|
150,000
|
Broadcom, Inc. 2.45%, 02/15/2031
|
136,636
|
|
|
|
Intel Corp.
|
|
|
|
146,000
|
3.10%, 02/15/2060
|
82,311
|
|
|
250,000
|
3.20%, 08/12/2061
|
142,984
|
|
|
150,000
|
4.65%, 06/01/2031
|
149,423
|
|
|
75,000
|
5.30%, 05/15/2036(5)
|
74,685
|
|
|
|
Marvell Technology, Inc.
|
|
|
|
75,000
|
2.95%, 04/15/2031
|
69,139
|
|
|
135,000
|
5.30%, 04/15/2036
|
135,074
|
|
|
40,000
|
Qorvo, Inc. 3.38%, 04/01/2031(1)
|
36,545
|
|
|
|
|
|
826,797
|
|
|
Software - 2.5%
|
||
|
70,000
|
AthenaHealth Group, Inc. 6.50%, 02/15/2030(1)
|
66,720
|
|
|
220,000
|
Cloud Software Group, Inc. 6.63%, 08/15/2033(1)
|
197,046
|
|
|
35,000
|
Open Text Corp. 3.88%, 12/01/2029(1)
|
31,545
|
|
|
35,000
|
Open Text Holdings, Inc. 4.13%, 12/01/2031(1)
|
29,885
|
|
|
|
Oracle Corp.
|
|
|
|
259,000
|
2.88%, 03/25/2031
|
230,182
|
|
|
175,000
|
3.60%, 04/01/2050
|
104,777
|
|
|
215,000
|
4.00%, 07/15/2046
|
143,507
|
|
|
100,000
|
4.30%, 07/08/2034
|
88,949
|
|
|
195,000
|
6.10%, 09/26/2065
|
161,094
|
|
|
25,000
|
ROBLOX Corp. 3.88%, 05/01/2030(1)
|
23,680
|
|
|
35,000
|
Rocket Software, Inc. 9.00%, 11/28/2028(1)
|
34,827
|
|
|
155,000
|
Roper Technologies, Inc. 1.75%, 02/15/2031
|
134,387
|
|
|
120,000
|
Salesforce, Inc. 4.90%, 09/15/2031
|
119,647
|
|
|
|
|
|
1,366,246
|
|
|
Telecommunications - 1.9%
|
||
|
215,000
|
AT&T, Inc. 4.75%, 04/30/2033
|
212,189
|
|
|
|
21
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 46.2% - (continued)
|
|||
|
|
Telecommunications - 1.9% - (continued)
|
||
|
$ 45,000
|
Bell Telephone Co. of Canada or Bell Canada
7.00%, 09/15/2055, (7.00% fixed rate until
06/15/2035; 5 yr. USD CMT + 2.36%
thereafter)(4)
|
$46,699
|
|
|
130,000
|
HUT 8 DC LLC 6.19%, 11/15/2042(1)
|
131,076
|
|
|
50,000
|
Lumen Technologies, Inc. 4.50%, 01/15/2029(1)
|
48,000
|
|
|
105,000
|
Meridian Arc Holdco LLC 6.25%, 04/30/2031(1)
|
104,976
|
|
|
265,000
|
Road Michigan Property Owner I LLC 7.50%,
03/30/2045(1)
|
265,000
|
|
|
70,000
|
TELUS Corp. 6.63%, 06/09/2056, (6.63% fixed
rate until 03/09/2036; 5 yr. USD CMT + 2.52%
thereafter)(4)
|
69,615
|
|
|
200,000
|
Vmed O2 U.K. Financing I PLC 4.75%,
07/15/2031(1)
|
173,019
|
|
|
|
|
|
1,050,574
|
|
|
Transportation - 0.1%
|
||
|
65,000
|
RXO, Inc. 6.38%, 05/15/2031(1)
|
64,366
|
|
|
|
Total Corporate Bonds
(cost $25,558,040)
|
$25,441,289
|
|
|
U.S. GOVERNMENT SECURITIES - 57.4%
|
|||
|
|
U.S. Treasury Securities - 57.4%
|
||
|
|
U.S. Treasury Bonds - 1.9%
|
||
|
75,000
|
1.13%, 05/15/2040
|
$46,951
|
|
|
210,000
|
1.38%, 08/15/2050
|
101,448
|
|
|
10,000
|
2.38%, 02/15/2042
|
7,238
|
|
|
245,000
|
3.50%, 02/15/2039
|
219,754
|
|
|
155,000
|
4.63%, 02/15/2040
|
153,777
|
|
|
450,000
|
4.63%, 02/15/2046
|
429,750
|
|
|
90,000
|
4.88%, 08/15/2045
|
88,889
|
|
|
|
|
|
1,047,807
|
|
|
U.S. Treasury Notes - 55.5%
|
||
|
1,800,000
|
2.88%, 04/30/2029
|
1,747,125
|
|
|
2,290,000
|
3.38%, 02/29/2028
|
2,269,963
|
|
|
1,580,000
|
3.50%, 03/15/2029
|
1,562,595
|
|
|
4,020,000
|
3.63%, 08/15/2028
|
3,996,445
|
|
|
1,260,000
|
3.75%, 02/28/2033
|
1,226,728
|
|
|
3,980,000
|
3.88%, 03/31/2028
|
3,979,067
|
|
|
1,780,000
|
3.88%, 04/30/2030(6)
|
1,773,186
|
|
|
2,560,000
|
3.88%, 03/31/2031(6)
|
2,543,000
|
|
|
385,000
|
3.88%, 08/15/2034
|
373,601
|
|
|
2,955,000
|
4.00%, 03/31/2030
|
2,957,770
|
|
|
3,610,000
|
4.13%, 11/30/2029
|
3,630,306
|
|
|
650,000
|
4.13%, 02/15/2036
|
636,289
|
|
|
3,160,000
|
4.25%, 03/31/2033
|
3,168,888
|
|
|
720,000
|
4.25%, 08/15/2035
|
713,700
|
|
|
|
|
|
30,578,663
|
|
|
Total U.S. Government Securities
(cost $31,705,478)
|
|
$31,626,470
|
|
|
Total Long-Term Investments
(cost $57,263,518)
|
|
$57,067,759
|
|
SHORT-TERM INVESTMENTS - 1.3%
|
|||
|
|
Repurchase Agreements - 0.3%
|
||
|
132,520
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 04/30/2026 at 3.64%, due
on 05/01/2026 with a maturity value of
$132,533; collateralized by U.S. Treasury
Note at 3.63%, maturing 09/30/2030, with a
market value of $135,249
|
$132,520
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SHORT-TERM INVESTMENTS - 1.3% - (continued)
|
|||
|
|
Securities Lending Collateral - 1.0%
|
||
|
561,700
|
State Street Navigator Securities Lending
Government Money Market Portfolio,
3.62%(7)
|
$561,700
|
|
|
|
Total Short-Term Investments
(cost $694,220)
|
$694,220
|
|
|
|
Total Investments
(cost $57,957,738)
|
104.9
%
|
$57,761,979
|
|
|
Other Assets and Liabilities
|
(4.9
)%
|
(2,700,803
)
|
|
|
Net Assets
|
100.0
%
|
$55,061,176
|
|
(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 April 30, 2026, the aggregate value of these securities was
$7,608,058, representing 13.8% of net assets.
|
|
(2)
|
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 April 30, 2026, the aggregate value
of these securities was $778,122, representing 1.4% of net assets.
|
|
(3)
|
Perpetual maturity security. Maturity date shown is the next call date or final legal
maturity date, whichever comes first.
|
|
(4)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain
variable rate securities are not based on a published reference rate and spread but
are determined by the issuer or agent and are based on current market conditions;
these securities do not indicate a reference rate and spread in the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(5)
|
Represents entire or partial securities on loan.
|
|
(6)
|
All, or a portion of the security, was pledged as collateral in connection with
centrally cleared swap contracts. As of April 30, 2026, the market value of
securities pledged was $716,963.
|
|
(7)
|
Current yield as of period end.
|
|
|
22
|
|
|
Futures Contracts Outstanding at April 30, 2026
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Long position contracts:
|
||||
|
U.S. Treasury 2-Year Note Future
|
33
|
06/30/2026
|
$6,835,125
|
$(1,106
)
|
|
Short position contracts:
|
||||
|
U.S. Treasury 5-Year Note Future
|
(8)
|
06/30/2026
|
$(862,687
)
|
$631
|
|
U.S. Treasury Ultra Bond Future
|
(2)
|
06/18/2026
|
(230,063
)
|
309
|
|
Total
|
|
|
|
$940
|
|
Total futures contracts
|
$(166
)
|
|||
|
Centrally Cleared Credit Default Swap Contracts Outstanding at April 30, 2026
|
|||||||||
|
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.S45.V2
|
USD
|
3,994,650
|
5.00%
|
12/20/2030
|
Quarterly
|
$255,313
|
$—
|
$314,043
|
$58,730
|
|
CDX.NA.HY.S46.V1
|
USD
|
620,000
|
5.00%
|
06/20/2031
|
Quarterly
|
43,526
|
—
|
47,709
|
4,183
|
|
Total
|
$298,839
|
$—
|
$361,752
|
$62,913
|
|||||
|
Credit default swaps on single-name issues:
|
|
|
|
|
|
|
|
|
|
|
Sell protection:
|
|
||||||||
|
Caesars Entertainment, Inc. (B+)
|
USD
|
100,000
|
5.00%
|
06/20/2031
|
Quarterly
|
$6,071
|
$—
|
$5,523
|
$(548
)
|
|
Ford Motor Co. (BBB-)
|
USD
|
120,000
|
5.00%
|
06/20/2031
|
Quarterly
|
17,126
|
—
|
18,458
|
1,332
|
|
Lincoln National Corp. (BBB+)
|
USD
|
135,000
|
1.58%
|
06/20/2031
|
Quarterly
|
—
|
(3,766
)
|
(3,166
)
|
600
|
|
Oracle Corp. (BBB)
|
USD
|
370,000
|
1.00%
|
12/20/2030
|
Quarterly
|
—
|
(7,693
)
|
(9,446
)
|
(1,753
)
|
|
Paramount Global (BB+)
|
USD
|
115,000
|
1.00%
|
06/20/2031
|
Quarterly
|
—
|
(11,266
)
|
(9,075
)
|
2,191
|
|
Total
|
|
|
|
|
|
$23,197
|
$(22,725
)
|
$2,294
|
$1,822
|
|
Total centrally cleared credit default swap contracts
|
$322,036
|
$(22,725
)
|
$364,046
|
$64,735
|
|||||
|
(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.
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Corporate Bonds
|
$25,441,289
|
$—
|
$25,441,289
|
$—
|
|
U.S. Government Securities
|
31,626,470
|
—
|
31,626,470
|
—
|
|
Short-Term Investments
|
694,220
|
561,700
|
132,520
|
—
|
|
Futures Contracts(2)
|
940
|
940
|
—
|
—
|
|
Swaps - Credit Default(2)
|
67,036
|
—
|
67,036
|
—
|
|
Total
|
$57,829,955
|
$562,640
|
$57,267,315
|
$—
|
|
Liabilities
|
|
|
|
|
|
Futures Contracts(2)
|
$(1,106
)
|
$(1,106
)
|
$—
|
$—
|
|
Swaps - Credit Default(2)
|
(2,301
)
|
—
|
(2,301
)
|
—
|
|
Total
|
$(3,407
)
|
$(1,106
)
|
$(2,301
)
|
$—
|
|
(1)
|
For the period ended April 30, 2026, 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.
|
|
|
23
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 97.0%
|
|||
|
|
Automobiles & Components - 2.3%
|
||
|
10,848
|
Tesla, Inc.*
|
$4,139,922
|
|
|
|
Capital Goods - 3.0%
|
||
|
3,286
|
Axon Enterprise, Inc.*
|
1,320,183
|
|
|
1,850
|
Carpenter Technology Corp.
|
792,170
|
|
|
14,798
|
Kratos Defense & Security Solutions, Inc.*
|
933,014
|
|
|
7,553
|
Vertiv Holdings Co. Class A
|
2,481,085
|
|
|
|
|
|
5,526,452
|
|
|
Consumer Discretionary Distribution & Retail - 8.3%
|
||
|
52,994
|
Amazon.com, Inc.*
|
14,046,590
|
|
|
3,234
|
Home Depot, Inc.
|
1,063,339
|
|
|
|
|
|
15,109,929
|
|
|
Consumer Durables & Apparel - 0.5%
|
||
|
27,929
|
On Holding AG Class A*
|
994,552
|
|
|
|
Consumer Services - 1.4%
|
||
|
17,860
|
Airbnb, Inc. Class A*
|
2,506,830
|
|
|
|
Energy - 0.6%
|
||
|
8,821
|
Cameco Corp.
|
1,085,336
|
|
|
|
Financial Services - 2.3%
|
||
|
2,927
|
Evercore, Inc. Class A
|
940,416
|
|
|
17,008
|
KKR & Co., Inc.
|
1,774,615
|
|
|
12,090
|
Tradeweb Markets, Inc. Class A
|
1,369,192
|
|
|
|
|
|
4,084,223
|
|
|
Food, Beverage & Tobacco - 0.5%
|
||
|
11,992
|
Monster Beverage Corp.*
|
924,223
|
|
|
|
Health Care Equipment & Services - 0.5%
|
||
|
1,789
|
Intuitive Surgical, Inc.*
|
818,664
|
|
|
|
Media & Entertainment - 20.5%
|
||
|
40,520
|
Alphabet, Inc. Class A
|
15,592,096
|
|
|
29,317
|
EchoStar Corp. Class A*
|
3,610,095
|
|
|
13,535
|
Liberty Media Corp.-Liberty Formula One Class C*
|
1,163,333
|
|
|
12,448
|
Meta Platforms, Inc. Class A
|
7,617,056
|
|
|
68,854
|
Netflix, Inc.*
|
6,445,423
|
|
|
4,614
|
Reddit, Inc. Class A*
|
679,319
|
|
|
4,481
|
Spotify Technology SA*
|
2,000,991
|
|
|
|
|
|
37,108,313
|
|
|
Pharmaceuticals, Biotechnology & Life Sciences - 6.3%
|
||
|
7,105
|
Eli Lilly & Co.
|
6,640,333
|
|
|
4,205
|
Illumina, Inc.*
|
532,942
|
|
|
13,843
|
Natera, Inc.*
|
2,853,873
|
|
|
3,326
|
Vertex Pharmaceuticals, Inc.*
|
1,421,466
|
|
|
|
|
|
11,448,614
|
|
|
Semiconductors & Semiconductor Equipment - 25.4%
|
||
|
19,915
|
ARM Holdings PLC ADR*
|
4,188,523
|
|
|
33,368
|
Broadcom, Inc.
|
13,928,804
|
|
|
1,980
|
Micron Technology, Inc.
|
1,023,977
|
|
|
134,471
|
NVIDIA Corp.
|
26,836,377
|
|
|
|
|
|
45,977,681
|
|
|
Software & Services - 10.5%
|
||
|
1,408
|
AppLovin Corp. Class A*
|
628,461
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
COMMON STOCKS - 97.0% - (continued)
|
|||
|
|
Software & Services - 10.5% - (continued)
|
||
|
8,179
|
Cloudflare, Inc. Class A*
|
$1,676,450
|
|
|
5,591
|
Datadog, Inc. Class A*
|
739,074
|
|
|
1,316
|
Intuit, Inc.
|
511,266
|
|
|
20,095
|
Microsoft Corp.
|
8,194,339
|
|
|
30,376
|
Palantir Technologies, Inc. Class A*
|
4,225,605
|
|
|
31,016
|
Samsara, Inc. Class A*
|
891,400
|
|
|
14,736
|
Shopify, Inc. Class A*
|
1,784,972
|
|
|
6,364
|
Trimble, Inc.*
|
428,424
|
|
|
|
|
|
19,079,991
|
|
|
Technology Hardware & Equipment - 14.9%
|
||
|
52,089
|
Apple, Inc.
|
14,134,350
|
|
|
18,693
|
Arista Networks, Inc.*
|
3,228,468
|
|
|
6,372
|
Celestica, Inc.*
|
2,609,908
|
|
|
18,172
|
Corning, Inc.
|
2,984,569
|
|
|
29,188
|
Flex Ltd.*
|
2,672,161
|
|
|
1,237
|
Sandisk Corp.*
|
1,356,383
|
|
|
|
|
|
26,985,839
|
|
|
Total Common Stocks
(cost $129,002,255)
|
|
$175,790,569
|
|
SHORT-TERM INVESTMENTS - 0.4%
|
|||
|
|
Repurchase Agreements - 0.4%
|
||
|
$ 715,995
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 04/30/2026 at 3.64%, due
on 05/01/2026 with a maturity value of
$716,067; collateralized by U.S. Treasury Note
at 3.88%, maturing 06/15/2028, with a market
value of $730,355
|
$715,995
|
|
|
|
Total Short-Term Investments
(cost $715,995)
|
$715,995
|
|
|
|
Total Investments
(cost $129,718,250)
|
97.4
%
|
$176,506,564
|
|
|
Other Assets and Liabilities
|
2.6
%
|
4,746,393
|
|
|
Net Assets
|
100.0
%
|
$181,252,957
|
|
*
|
Non-income producing.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
|
24
|
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Common Stocks
|
$175,790,569
|
$175,790,569
|
$—
|
$—
|
|
Short-Term Investments
|
715,995
|
—
|
715,995
|
—
|
|
Total
|
$176,506,564
|
$175,790,569
|
$715,995
|
$—
|
|
(1)
|
For the period ended April 30, 2026, there were no transfers in and out of Level 3.
|
|
|
25
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 1.1%
|
|||
|
|
Commercial Mortgage-Backed Securities - 1.1%
|
||
|
|
FRETE Trust
|
|
|
|
$ 3,732,625
|
Series 2026-ML33, 4.64%, 10/25/2040(1)
|
$3,816,645
|
|
|
4,008,999
|
Series 2026-ML34, 4.77%, 12/25/2042(1)
|
4,123,561
|
|
|
|
Total Asset-Backed & Commercial
Mortgage-Backed Securities
(cost $8,147,281)
|
$7,940,206
|
|
|
MUNICIPAL BONDS - 95.2%
|
|||
|
|
Alabama - 7.7%
|
||
|
1,920,000
|
Alabama Housing Finance Auth, AL, Rev,
(FHLMC), (FNMA), (GNMA) 6.00%,
04/01/2055
|
$2,097,484
|
|
|
|
Black Belt Energy Gas Dist, AL, Rev
|
|
|
|
3,430,000
|
5.00%, 07/01/2033
|
3,602,686
|
|
|
2,070,000
|
5.00%, 10/01/2033(2)
|
2,207,236
|
|
|
1,585,000
|
5.00%, 12/01/2034
|
1,705,789
|
|
|
4,960,000
|
5.00%, 10/01/2035
|
5,209,251
|
|
|
1,200,000
|
5.00%, 10/01/2055(1)
|
1,256,169
|
|
|
1,155,000
|
5.00%, 12/01/2055(1)
|
1,224,156
|
|
|
2,000,000
|
5.25%, 12/01/2027
|
2,054,436
|
|
|
1,825,000
|
5.25%, 02/01/2053(1)
|
1,912,075
|
|
|
330,000
|
5.25%, 12/01/2053(1)
|
354,566
|
|
|
2,335,000
|
Energy Southeast A Cooperative Dist, AL, Rev
5.50%, 11/01/2053(1)
|
2,507,914
|
|
|
100,000
|
Jefferson County Board of Education, AL,
Special Tax 5.00%, 02/01/2042
|
101,965
|
|
|
2,000,000
|
Lower Alabama Gas Dist, AL, Rev 5.00%,
09/01/2028
|
2,062,055
|
|
|
2,600,000
|
Southeast Alabama Gas Supply Dist, AL, Rev
5.00%, 08/01/2054(1)
|
2,769,073
|
|
|
|
Southeast Energy Auth A Cooperative Dist, AL,
Rev
|
|
|
|
16,000,000
|
5.00%, 10/01/2030
|
17,099,181
|
|
|
1,295,000
|
5.00%, 09/01/2035
|
1,394,480
|
|
|
2,440,000
|
5.00%, 11/01/2035
|
2,589,402
|
|
|
4,000,000
|
5.00%, 05/01/2055(1)
|
4,256,282
|
|
|
1,855,000
|
5.25%, 03/01/2055(1)
|
1,919,029
|
|
|
415,000
|
5.50%, 01/01/2053(1)
|
441,194
|
|
|
|
|
|
56,764,423
|
|
|
Alaska - 0.8%
|
||
|
3,150,000
|
CIVICVentures, AK, Rev 5.00%, 09/01/2038
|
3,416,900
|
|
|
1,225,000
|
Northern Tobacco Securitization Corp., AK, Rev
4.00%, 06/01/2039
|
1,227,301
|
|
|
1,215,000
|
State of Alaska International Airports System,
AK, Rev 5.00%, 10/01/2034
|
1,373,724
|
|
|
|
|
|
6,017,925
|
|
|
Arizona - 1.0%
|
||
|
|
Arizona Industrial Dev Auth, AZ, Rev,
|
|
|
|
665,000
|
(FHLMC), (FNMA), (GNMA) 4.05%,
10/01/2031
|
687,900
|
|
|
270,000
|
(FHLMC), (FNMA), (GNMA) 4.15%,
10/01/2032
|
278,111
|
|
|
280,000
|
(FHLMC), (FNMA), (GNMA) 4.25%,
10/01/2033
|
290,531
|
|
|
500,000
|
City of Phoenix Civic Improvement Corp., AZ,
Rev 5.00%, 07/01/2037
|
509,602
|
|
|
|
Maricopa County Industrial Dev Auth, AZ, Rev
|
|
|
|
230,000
|
4.00%, 10/15/2047(3)
|
198,570
|
|
|
195,000
|
5.00%, 09/01/2031
|
203,401
|
|
|
1,600,000
|
5.00%, 01/01/2038(2)
|
1,793,629
|
|
|
|
Tempe Industrial Dev Auth, AZ, Rev
|
|
|
|
880,000
|
3.50%, 12/01/2030
|
874,469
|
|
|
1,190,000
|
4.38%, 12/01/2036
|
1,203,839
|
|
|
1,000,000
|
5.38%, 12/01/2046
|
1,025,542
|
|
|
|
|
|
7,065,594
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
California - 6.0%
|
||
|
$ 795,000
|
Bay Area Toll Auth, CA, Rev 3.39%, 04/01/2056,
SIFMA Municipal Swap Index + 0.30%(1)
|
$792,003
|
|
|
|
California Community Choice Financing Auth,
CA, Rev
|
|
|
|
4,415,000
|
5.00%, 11/01/2033
|
4,774,660
|
|
|
5,000,000
|
5.00%, 12/01/2035
|
5,436,302
|
|
|
2,000,000
|
5.00%, 05/01/2054(1)
|
2,115,213
|
|
|
5,040,000
|
5.00%, 12/01/2055(1)
|
5,281,105
|
|
|
3,520,000
|
5.00%, 01/01/2056(1)
|
3,728,602
|
|
|
4,000,000
|
5.00%, 10/01/2056(1)
|
4,286,214
|
|
|
205,000
|
California Enterprise Dev Auth, CA, Rev 5.00%,
08/01/2045
|
208,199
|
|
|
1,000,000
|
California Health Facs Financing Auth, CA, Rev
5.00%, 12/01/2032
|
1,096,753
|
|
|
|
California Municipal Finance Auth, CA, Rev,
|
|
|
|
180,000
|
(BAM) 4.00%, 05/15/2034
|
186,017
|
|
|
600,000
|
(BAM) 4.00%, 05/15/2037
|
611,734
|
|
|
2,250,000
|
5.00%, 06/30/2027
|
2,286,598
|
|
|
285,000
|
5.00%, 01/01/2041(2)(3)
|
285,586
|
|
|
1,000,000
|
5.00%, 09/01/2060
|
1,021,326
|
|
|
|
City of Fontana, CA, Special Tax
|
|
|
|
500,000
|
4.00%, 09/01/2041
|
485,335
|
|
|
450,000
|
4.00%, 09/01/2046
|
417,460
|
|
|
525,000
|
4.00%, 09/01/2051
|
461,240
|
|
|
150,000
|
Fresno Unified School Dist, CA, GO 0.00%,
08/01/2032(4)
|
117,514
|
|
|
5,670,000
|
Golden State Tobacco Securitization Corp., CA,
Rev 0.00%, 06/01/2066(4)
|
557,712
|
|
|
520,000
|
Los Angeles County Public Works Financing
Auth, CA, Rev 5.25%, 12/01/2054
|
562,759
|
|
|
1,000,000
|
Los Angeles Department of Water & Power, CA,
Rev, (BAM) 5.25%, 07/01/2045
|
1,078,622
|
|
|
595,000
|
Regents of the University of California Medical
Center Pooled, CA, Rev 5.00%, 05/15/2036
|
664,258
|
|
|
1,815,000
|
River Islands Public Financing Auth, CA, Special
Tax, (AG) 0.00%, 09/01/2055(4)
|
405,359
|
|
|
100,000
|
Romoland School Dist, CA, Special Tax 5.00%,
09/01/2043
|
101,543
|
|
|
885,000
|
San Bernardino Community College Dist, CA,
GO 0.00%, 08/01/2046(4)
|
323,153
|
|
|
475,000
|
San Diego County Regional Airport Auth, CA,
Rev 5.25%, 07/01/2036
|
531,197
|
|
|
|
San Joaquin Hills Transportation Corridor
Agency, CA, Rev,
|
|
|
|
235,000
|
(NPFG) 0.00%, 01/15/2032(4)
|
195,086
|
|
|
70,000
|
(NPFG) 0.00%, 01/15/2035(4)
|
51,647
|
|
|
1,250,000
|
4.00%, 01/15/2034
|
1,293,748
|
|
|
|
University of California, CA, Rev
|
|
|
|
2,855,000
|
5.00%, 11/15/2039
|
3,369,011
|
|
|
585,000
|
5.25%, 05/15/2040
|
708,536
|
|
|
925,000
|
5.50%, 05/15/2040
|
1,089,384
|
|
|
|
|
|
44,523,876
|
|
|
Colorado - 2.5%
|
||
|
|
Baseline Metropolitan Dist No. 1, CO, GO,
|
|
|
|
375,000
|
(AG) 5.00%, 12/01/2030
|
408,343
|
|
|
635,000
|
(AG) 5.00%, 12/01/2032
|
692,321
|
|
|
1,970,000
|
City & County of Denver Airport System, CO,
Rev 5.50%, 11/15/2032
|
2,251,250
|
|
|
1,000,000
|
Colorado Bridge & Tunnel Enterprise, CO, Rev,
(AG) 5.50%, 12/01/2054
|
1,075,585
|
|
|
|
Colorado Health Facs Auth, CO, Rev
|
|
|
|
170,000
|
4.00%, 12/01/2040
|
165,802
|
|
|
1,580,000
|
5.00%, 12/01/2034
|
1,718,452
|
|
|
1,000,000
|
5.00%, 12/01/2035
|
1,083,105
|
|
|
500,000
|
5.00%, 05/15/2036
|
548,035
|
|
|
345,000
|
5.00%, 05/15/2037
|
376,400
|
|
|
|
26
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Colorado - 2.5% - (continued)
|
||
|
$ 1,515,000
|
Colorado Housing & Finance Auth, CO, Rev,
(FHLMC), (FNMA), (GNMA) 6.50%,
11/01/2055(2)
|
$1,718,038
|
|
|
620,000
|
Denver City & County Housing Auth, CO, Rev
5.00%, 06/01/2029
|
646,189
|
|
|
160,000
|
Denver Convention Center Hotel Auth, CO, Rev
5.00%, 12/01/2031
|
161,133
|
|
|
1,000,000
|
E-470 Public Highway Auth, CO, Rev 3.18%,
09/01/2039, 1 mo. USD SOFR + 0.75%(1)
|
999,180
|
|
|
1,030,000
|
Park Creek Metropolitan Dist, CO, Rev 5.00%,
12/01/2029
|
1,082,271
|
|
|
450,000
|
Park Creek Metropolitan Dist, CO, Tax
Allocation, (AG) 5.00%, 12/01/2032
|
503,247
|
|
|
300,000
|
Public Auth for Colorado Energy, CO, Rev
6.50%, 11/15/2038
|
359,456
|
|
|
|
Regional Transportation Dist, CO, Rev
|
|
|
|
500,000
|
4.00%, 07/15/2039
|
489,176
|
|
|
400,000
|
5.00%, 07/15/2029
|
420,677
|
|
|
500,000
|
5.00%, 01/15/2030
|
529,226
|
|
|
100,000
|
5.00%, 07/15/2032
|
106,638
|
|
|
2,275,000
|
Southern Ute Indian Tribe of the Southern Ute
Reservation, CO, GO 5.00%, 04/01/2035(3)
|
2,455,404
|
|
|
715,000
|
University of Colorado Hospital Auth, CO, Rev
5.00%, 11/15/2029
|
769,846
|
|
|
|
|
|
18,559,774
|
|
|
Connecticut - 2.0%
|
||
|
100,000
|
City of Bridgeport, CT, GO, (BAM) 5.00%,
07/15/2034
|
104,406
|
|
|
140,000
|
Connecticut Housing Finance Auth, CT, Rev,
(FHLMC), (FNMA), (GNMA) 4.25%,
05/15/2042
|
140,710
|
|
|
|
Connecticut State Health & Educational Facs
Auth, CT, Rev
|
|
|
|
1,000,000
|
2.95%, 07/01/2049(1)
|
1,003,292
|
|
|
3,500,000
|
5.00%, 07/01/2040
|
3,844,274
|
|
|
3,000,000
|
Stamford Housing Auth, CT, Rev 4.25%,
10/01/2030
|
3,028,622
|
|
|
|
State of Connecticut, CT, GO
|
|
|
|
845,000
|
3.00%, 06/01/2038
|
770,610
|
|
|
6,225,000
|
5.00%, 10/15/2031
|
6,285,468
|
|
|
|
|
|
15,177,382
|
|
|
District of Columbia - 0.2%
|
||
|
|
Dist of Columbia, DC, Rev
|
|
|
|
250,000
|
5.00%, 07/01/2037
|
251,124
|
|
|
455,000
|
5.00%, 07/01/2042
|
455,233
|
|
|
500,000
|
Metropolitan Washington Airports Auth, Aviation,
DC, Rev 5.00%, 10/01/2035
|
542,935
|
|
|
|
|
|
1,249,292
|
|
|
Florida - 3.4%
|
||
|
725,000
|
Alachua County Health Facs Auth, FL, Rev
3.75%, 10/01/2030
|
725,524
|
|
|
185,000
|
Capital Projects Finance Auth, FL, Rev 5.00%,
10/01/2027
|
188,781
|
|
|
500,000
|
Capital Trust Auth, FL, Rev 5.00%,
07/01/2045(3)
|
493,375
|
|
|
125,000
|
City of Atlantic Beach, FL, Rev 5.00%,
11/15/2043
|
125,687
|
|
|
270,000
|
County of Broward Airport System, FL, Rev
4.00%, 10/01/2044
|
253,160
|
|
|
|
County of Lee Airport, FL, Rev
|
|
|
|
1,000,000
|
5.25%, 10/01/2037
|
1,130,664
|
|
|
1,000,000
|
5.25%, 10/01/2038
|
1,123,309
|
|
|
1,215,000
|
5.25%, 10/01/2039
|
1,356,523
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Florida - 3.4% - (continued)
|
||
|
$ 1,000,000
|
5.25%, 10/01/2040
|
$1,109,620
|
|
|
|
County of Miami-Dade Seaport Department, FL,
Rev
|
|
|
|
1,085,000
|
5.00%, 10/01/2035
|
1,166,604
|
|
|
200,000
|
5.00%, 10/01/2036
|
214,039
|
|
|
445,000
|
Escambia County Health Facs Auth, FL, Rev
4.00%, 08/15/2045
|
394,407
|
|
|
|
Florida Local Government Finance Commission,
FL, Rev
|
|
|
|
2,155,000
|
4.20%, 11/15/2030(3)
|
2,162,122
|
|
|
335,000
|
6.63%, 11/15/2045(3)
|
357,714
|
|
|
|
Greater Orlando Aviation Auth, FL, Rev
|
|
|
|
1,650,000
|
5.00%, 10/01/2036
|
1,824,097
|
|
|
1,000,000
|
5.25%, 11/01/2034
|
1,059,434
|
|
|
1,155,000
|
5.25%, 11/01/2035
|
1,219,103
|
|
|
160,000
|
Lee County Industrial Dev Auth, FL, Rev 4.13%,
11/15/2029
|
160,160
|
|
|
500,000
|
Middleton Community Dev Dist A, FL, Special
Assessment 4.75%, 05/01/2055
|
461,448
|
|
|
250,000
|
Orange County Health Facs Auth, FL, Rev
5.00%, 10/01/2041
|
272,433
|
|
|
950,000
|
Orlando Utilities Commission, FL, Rev 1.25%,
10/01/2046(1)
|
890,795
|
|
|
|
Palm Beach County Health Facs Auth, FL, Rev
|
|
|
|
420,000
|
5.13%, 05/15/2046
|
421,862
|
|
|
665,000
|
5.63%, 05/15/2061
|
668,385
|
|
|
|
Polk County Industrial Dev Auth, FL, Rev
|
|
|
|
300,000
|
5.00%, 01/01/2029
|
306,038
|
|
|
190,000
|
5.00%, 01/01/2055
|
179,080
|
|
|
445,000
|
St. Johns County Industrial Dev Auth, FL, Rev
4.00%, 12/15/2046
|
369,525
|
|
|
1,400,000
|
USF Financing Corp., FL, Rev 5.00%,
07/01/2034
|
1,584,414
|
|
|
155,000
|
Village Community Dev Dist No. 13, FL, Special
Assessment 2.55%, 05/01/2031
|
147,659
|
|
|
1,170,000
|
Village Community Dev Dist No. 14, FL, Special
Assessment 5.13%, 05/01/2037
|
1,212,913
|
|
|
500,000
|
Village Community Dev Dist No. 15, FL, Special
Assessment 4.80%, 05/01/2055(3)
|
473,661
|
|
|
|
Village Community Dev Dist No. 16, FL, Special
Assessment
|
|
|
|
1,860,000
|
4.00%, 05/01/2035
|
1,856,836
|
|
|
1,250,000
|
4.50%, 05/01/2040
|
1,264,189
|
|
|
|
|
|
25,173,561
|
|
|
Georgia - 2.6%
|
||
|
1,350,000
|
Bartow County Dev Auth, GA, Rev 3.95%,
12/01/2032(1)
|
1,369,831
|
|
|
1,020,000
|
City of Atlanta Department of Aviation, GA, Rev
5.00%, 07/01/2033
|
1,131,891
|
|
|
|
Dev Auth for Fulton County, GA, Rev
|
|
|
|
350,000
|
5.00%, 06/01/2038
|
392,479
|
|
|
400,000
|
5.00%, 06/01/2039
|
445,376
|
|
|
215,000
|
Georgia Housing & Finance Auth, GA, Rev
5.00%, 12/01/2042
|
229,553
|
|
|
|
Main Street Natural Gas, Inc., GA, Rev
|
|
|
|
2,950,000
|
4.00%, 05/01/2052(1)
|
2,991,844
|
|
|
1,760,000
|
5.00%, 07/01/2053(1)
|
1,860,648
|
|
|
475,000
|
5.00%, 09/01/2053(1)
|
502,990
|
|
|
1,225,000
|
5.00%, 12/01/2053(1)
|
1,306,607
|
|
|
275,000
|
5.00%, 04/01/2054(1)
|
292,580
|
|
|
2,380,000
|
5.00%, 05/01/2054(1)
|
2,549,418
|
|
|
1,810,000
|
5.00%, 12/01/2054(1)
|
1,947,297
|
|
|
1,000,000
|
5.00%, 06/01/2055(1)
|
1,074,434
|
|
|
|
Municipal Electric Auth of Georgia, GA, Rev,
|
|
|
|
1,000,000
|
(AG) 5.00%, 07/01/2048
|
1,036,010
|
|
|
|
27
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Georgia - 2.6% - (continued)
|
||
|
$ 520,000
|
5.00%, 07/01/2052
|
$528,773
|
|
|
|
Savannah Georgia Convention Center Auth, GA,
Rev,
|
|
|
|
300,000
|
(AG) 5.00%, 06/01/2040
|
327,709
|
|
|
450,000
|
(AG) 5.25%, 06/01/2041
|
499,212
|
|
|
450,000
|
(AG) 5.25%, 06/01/2042
|
495,993
|
|
|
310,000
|
5.25%, 06/01/2061
|
307,336
|
|
|
|
|
|
19,289,981
|
|
|
Guam - 0.3%
|
||
|
|
Government of Guam Business Privilege Tax
Refunding Bonds, GU, Rev
|
|
|
|
820,000
|
5.00%, 01/01/2031
|
875,525
|
|
|
500,000
|
5.25%, 01/01/2037
|
548,890
|
|
|
500,000
|
5.25%, 01/01/2038
|
545,674
|
|
|
|
|
|
1,970,089
|
|
|
Hawaii - 0.0%
|
||
|
100,000
|
State of Hawaii Airports System, HI, Rev
5.00%, 07/01/2031
|
103,916
|
|
|
|
Idaho - 0.1%
|
||
|
945,000
|
Idaho Housing & Finance Association, ID, Rev,
(FHLMC), (FNMA), (GNMA) 5.75%,
01/01/2053
|
1,023,665
|
|
|
|
Illinois - 9.7%
|
||
|
|
Chicago Board of Education Dedicated Capital
Improvement Tax, IL, Rev
|
|
|
|
250,000
|
5.00%, 04/01/2033
|
254,892
|
|
|
380,000
|
5.25%, 04/01/2035
|
413,409
|
|
|
250,000
|
5.25%, 04/01/2036
|
270,422
|
|
|
|
Chicago Board of Education, IL, GO,
|
|
|
|
110,000
|
(NPFG) 0.00%, 12/01/2026(4)
|
107,778
|
|
|
500,000
|
5.00%, 12/01/2028
|
510,123
|
|
|
1,100,000
|
5.00%, 12/01/2032
|
1,126,165
|
|
|
400,000
|
5.00%, 12/01/2046
|
368,346
|
|
|
2,500,000
|
5.25%, 12/01/2036
|
2,587,118
|
|
|
1,745,000
|
5.75%, 12/01/2050
|
1,731,350
|
|
|
4,180,000
|
6.00%, 12/01/2037
|
4,608,055
|
|
|
370,000
|
Chicago Midway International Airport, IL, Rev,
(BAM) 5.50%, 01/01/2038
|
411,435
|
|
|
|
Chicago O'Hare International Airport, IL, Rev,
|
|
|
|
200,000
|
(BAM) 5.00%, 01/01/2037
|
217,552
|
|
|
1,785,000
|
(BAM) 5.00%, 01/01/2038
|
1,932,413
|
|
|
1,700,000
|
5.50%, 07/01/2040
|
1,882,648
|
|
|
1,000,000
|
Chicago Transit Auth Sales Tax Receipts Fund,
IL, Rev 5.00%, 12/01/2049
|
1,022,970
|
|
|
|
City of Chicago Wastewater Transmission, IL,
Rev,
|
|
|
|
695,000
|
(BAM) 5.00%, 01/01/2041
|
751,600
|
|
|
75,000
|
(NPFG) 5.50%, 01/01/2030
|
78,843
|
|
|
530,000
|
City of Chicago Waterworks, IL, Rev, (AG)
5.00%, 11/01/2037
|
573,390
|
|
|
1,385,000
|
City of Granite City, IL, Rev 1.25%, 05/01/2027
|
1,347,235
|
|
|
|
City of Joliet Waterworks & Sewerage, IL, Rev,
|
|
|
|
1,800,000
|
(BAM) 5.00%, 01/01/2039
|
1,961,698
|
|
|
875,000
|
(BAM) 5.00%, 01/01/2040
|
950,723
|
|
|
900,000
|
Cook County Community College Dist No. 508,
IL, GO, (BAM) 5.00%, 12/01/2038
|
975,559
|
|
|
|
Illinois Finance Auth, IL, Rev
|
|
|
|
665,000
|
3.65%, 05/01/2031
|
662,555
|
|
|
640,000
|
4.00%, 07/15/2039
|
628,009
|
|
|
460,000
|
5.00%, 10/01/2027
|
474,264
|
|
|
235,000
|
5.00%, 08/15/2033
|
252,603
|
|
|
4,145,000
|
5.00%, 11/15/2035
|
4,660,721
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Illinois - 9.7% - (continued)
|
||
|
$ 150,000
|
5.00%, 11/15/2045
|
$150,015
|
|
|
|
Illinois Housing Dev Auth, IL, Rev,
|
|
|
|
6,185,000
|
(FHLMC), (FNMA), (GNMA) 3.30%,
02/01/2038(1)
|
6,185,000
|
|
|
2,245,000
|
(FHLMC), (FNMA), (GNMA) 5.25%,
10/01/2052
|
2,351,052
|
|
|
730,000
|
(FHLMC), (FNMA), (GNMA) 5.50%,
10/01/2053
|
786,046
|
|
|
380,000
|
(FHLMC), (FNMA), (GNMA) 5.75%,
10/01/2053
|
406,164
|
|
|
2,260,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
10/01/2054
|
2,442,905
|
|
|
780,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
10/01/2055
|
863,216
|
|
|
320,000
|
Illinois State Toll Highway Auth, IL, Rev 4.00%,
01/01/2040
|
322,777
|
|
|
100,000
|
Kane McHenry Cook & De Kalb Counties Unit
School Dist No. 300, IL, GO 5.00%,
01/01/2032
|
101,442
|
|
|
150,000
|
Kendall Kane & Will Counties Community Unit
School Dist No. 308, IL, GO, (AG) 0.00%,
02/01/2027(4)
|
146,301
|
|
|
|
Rock Island County School Dist No. 41 Rock
Island, IL, GO,
|
|
|
|
1,000,000
|
(AG) 5.00%, 01/01/2041
|
1,072,099
|
|
|
1,005,000
|
(AG) 5.00%, 01/01/2042
|
1,067,693
|
|
|
|
Sales Tax Securitization Corp., IL, Rev
|
|
|
|
785,000
|
4.00%, 01/01/2038
|
781,707
|
|
|
550,000
|
5.00%, 01/01/2030
|
587,753
|
|
|
1,500,000
|
5.00%, 01/01/2034
|
1,662,018
|
|
|
845,000
|
5.00%, 01/01/2037
|
882,854
|
|
|
|
St. Clair County Community Unit School Dist
No. 187 Cahokia, IL, GO,
|
|
|
|
240,000
|
(AG) 5.00%, 01/01/2029
|
252,543
|
|
|
250,000
|
(AG) 5.00%, 01/01/2030
|
267,283
|
|
|
250,000
|
(AG) 5.00%, 01/01/2031
|
270,658
|
|
|
320,000
|
(AG) 5.00%, 01/01/2032
|
349,960
|
|
|
|
State of Illinois Sales Tax, IL, Rev
|
|
|
|
115,000
|
5.00%, 06/15/2027
|
115,293
|
|
|
1,000,000
|
5.00%, 06/15/2035
|
1,107,868
|
|
|
|
State of Illinois, IL, GO
|
|
|
|
1,645,000
|
5.00%, 05/01/2027
|
1,679,704
|
|
|
6,000,000
|
5.00%, 09/01/2040
|
6,441,465
|
|
|
4,750,000
|
5.00%, 12/01/2042
|
5,005,718
|
|
|
4,320,000
|
5.25%, 04/01/2043
|
4,686,623
|
|
|
550,000
|
5.50%, 03/01/2042
|
590,272
|
|
|
100,000
|
Village of Bolingbrook, IL, GO, (AG) 5.00%,
01/01/2028
|
103,776
|
|
|
|
|
|
71,442,081
|
|
|
Indiana - 1.4%
|
||
|
257,734
|
City of Evansville, IN, Rev, (FNMA) 3.00%,
06/01/2034
|
242,536
|
|
|
2,550,000
|
City of Whiting, IN, Rev 4.40%, 11/01/2045(1)
|
2,660,594
|
|
|
|
Danville Multi-School Building Corp., IN, Rev,
|
|
|
|
750,000
|
(ST INTERCEPT) 5.00%, 01/15/2034
|
836,641
|
|
|
440,000
|
(ST INTERCEPT) 5.00%, 07/15/2034
|
492,674
|
|
|
650,000
|
(ST INTERCEPT) 5.00%, 07/15/2035
|
725,756
|
|
|
750,000
|
Indiana Municipal Power Agency, IN, Rev, (AG)
5.00%, 01/01/2034
|
852,202
|
|
|
|
Indiana Secondary Market for Education Loans,
Inc., IN, Rev
|
|
|
|
1,900,000
|
5.00%, 06/01/2032
|
1,996,837
|
|
|
380,000
|
5.00%, 06/01/2034
|
400,974
|
|
|
|
Indianapolis Local Public Improvement Bond
Bank, IN, Rev
|
|
|
|
230,000
|
5.00%, 01/01/2040
|
253,832
|
|
|
|
28
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Indiana - 1.4% - (continued)
|
||
|
$ 425,000
|
5.00%, 01/01/2041
|
$465,491
|
|
|
500,000
|
5.00%, 01/01/2042
|
544,093
|
|
|
750,000
|
5.00%, 01/01/2043
|
810,840
|
|
|
|
|
|
10,282,470
|
|
|
Iowa - 0.9%
|
||
|
575,000
|
Iowa Finance Auth, IA, Rev 5.00%, 02/15/2027
|
582,797
|
|
|
|
Iowa Student Loan Liquidity Corp., IA, Rev
|
|
|
|
2,800,000
|
5.00%, 12/01/2030
|
2,972,574
|
|
|
1,415,000
|
5.00%, 12/01/2033
|
1,508,781
|
|
|
1,270,000
|
5.00%, 12/01/2035
|
1,337,385
|
|
|
|
|
|
6,401,537
|
|
|
Kentucky - 0.8%
|
||
|
|
Kentucky Higher Education Student Loan Corp.,
KY, Rev
|
|
|
|
890,000
|
5.00%, 06/01/2028
|
909,005
|
|
|
1,020,000
|
5.00%, 06/01/2029
|
1,050,121
|
|
|
1,190,000
|
5.00%, 06/01/2030
|
1,233,480
|
|
|
1,190,000
|
5.00%, 06/01/2031
|
1,240,614
|
|
|
1,250,000
|
Kentucky Public Energy Auth, KY, Rev 5.25%,
04/01/2054(1)
|
1,333,374
|
|
|
|
|
|
5,766,594
|
|
|
Louisiana - 1.3%
|
||
|
250,000
|
City of Shreveport Water & Sewer, LA, Rev,
(AG) 5.00%, 12/01/2040
|
275,184
|
|
|
325,000
|
East Baton Rouge Sewerage Commission, LA,
Rev 1.30%, 02/01/2041(1)
|
309,018
|
|
|
1,135,000
|
Louisiana Housing Corp., LA, Rev, (FHLMC),
(FNMA), (GNMA) 2.35%, 12/01/2040
|
927,528
|
|
|
|
Louisiana Public Facs Auth, LA, Rev
|
|
|
|
1,445,000
|
5.00%, 05/15/2030
|
1,549,710
|
|
|
515,000
|
(AG) 5.00%, 08/01/2030
|
562,679
|
|
|
335,000
|
(AG) 5.00%, 08/01/2032
|
375,337
|
|
|
270,000
|
(AG) 5.00%, 01/01/2035
|
303,891
|
|
|
230,000
|
(AG) 5.00%, 07/01/2035
|
259,398
|
|
|
270,000
|
(AG) 5.00%, 01/01/2036
|
304,518
|
|
|
245,000
|
(AG) 5.00%, 07/01/2036
|
275,335
|
|
|
|
New Orleans Aviation Board, LA, Rev
|
|
|
|
150,000
|
5.00%, 01/01/2029
|
158,661
|
|
|
200,000
|
5.00%, 01/01/2030
|
214,808
|
|
|
2,855,000
|
Parish of St. James, LA, Rev 3.70%,
08/01/2041(1)
|
2,880,681
|
|
|
|
Parish of St. John the Baptist, LA, Rev
|
|
|
|
305,000
|
2.38%, 06/01/2037(1)
|
304,696
|
|
|
1,160,000
|
3.30%, 06/01/2037(1)
|
1,167,146
|
|
|
|
|
|
9,868,590
|
|
|
Maine - 0.0%
|
||
|
275,000
|
Maine Health & Higher Educational Facs Auth,
ME, Rev, (AG), (ST INTERCEPT) 4.00%,
07/01/2035
|
280,575
|
|
|
|
Maryland - 0.6%
|
||
|
|
Maryland Health & Higher Educational Facs
Auth, MD, Rev
|
|
|
|
1,095,000
|
5.00%, 07/01/2038
|
1,174,537
|
|
|
500,000
|
5.00%, 07/01/2040
|
528,882
|
|
|
475,000
|
5.00%, 07/01/2049
|
485,380
|
|
|
2,000,000
|
5.00%, 08/15/2056(1)
|
2,191,564
|
|
|
|
|
|
4,380,363
|
|
|
Massachusetts - 3.0%
|
||
|
750,000
|
Commonwealth of Massachusetts, MA, GO
5.00%, 06/01/2040
|
841,498
|
|
|
|
Massachusetts Dev Finance Agency, MA, Rev
|
|
|
|
1,000,000
|
5.00%, 07/01/2027
|
1,018,554
|
|
|
575,000
|
5.00%, 01/01/2028
|
589,425
|
|
|
585,000
|
5.00%, 01/01/2029
|
612,655
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Massachusetts - 3.0% - (continued)
|
||
|
$ 1,085,000
|
5.00%, 07/01/2029
|
$1,137,235
|
|
|
390,000
|
5.00%, 10/01/2029
|
411,115
|
|
|
555,000
|
5.00%, 01/01/2030
|
589,368
|
|
|
680,000
|
5.00%, 07/01/2031
|
690,016
|
|
|
1,110,000
|
5.00%, 02/15/2033
|
1,263,668
|
|
|
675,000
|
5.00%, 07/01/2034
|
683,589
|
|
|
1,000,000
|
5.00%, 06/01/2038
|
1,101,305
|
|
|
750,000
|
5.00%, 07/01/2038
|
831,123
|
|
|
1,000,000
|
5.00%, 07/01/2039
|
1,101,040
|
|
|
945,000
|
5.00%, 06/01/2040
|
1,026,370
|
|
|
2,880,000
|
5.00%, 07/01/2040
|
3,065,970
|
|
|
350,000
|
5.00%, 07/01/2044
|
350,057
|
|
|
535,000
|
5.00%, 07/01/2055
|
545,126
|
|
|
380,000
|
5.00%, 10/01/2057(3)
|
365,315
|
|
|
1,000,000
|
5.00%, 07/01/2060(3)
|
949,446
|
|
|
930,000
|
5.50%, 10/01/2031
|
1,009,076
|
|
|
960,000
|
5.50%, 10/01/2032
|
1,050,885
|
|
|
|
Massachusetts Educational Financing Auth, MA,
Rev
|
|
|
|
100,000
|
5.00%, 07/01/2026
|
100,263
|
|
|
110,000
|
5.00%, 07/01/2027
|
111,992
|
|
|
2,800,000
|
Massachusetts Health & Educational Facs Auth,
MA, Rev 2.55%, 07/01/2027(1)
|
2,800,000
|
|
|
|
|
|
22,245,091
|
|
|
Michigan - 1.7%
|
||
|
1,000,000
|
Avondale School Dist, MI, GO, (Q-SBLF) 5.00%,
11/01/2042
|
1,092,473
|
|
|
500,000
|
Clarkston Community Schools, MI, GO,
(Q-SBLF) 5.00%, 05/01/2037
|
561,956
|
|
|
1,110,000
|
Detroit Downtown Dev Auth, MI, Tax Allocation
5.00%, 07/01/2048
|
1,146,019
|
|
|
895,000
|
Detroit Regional Convention Facility Auth, MI,
Rev 5.00%, 10/01/2036
|
982,063
|
|
|
570,000
|
Great Lakes Water Auth, Water Supply System,
MI, Rev 5.00%, 07/01/2037
|
635,843
|
|
|
|
Michigan Finance Auth, MI, Rev
|
|
|
|
1,250,000
|
4.00%, 11/15/2046
|
1,118,945
|
|
|
750,000
|
5.00%, 11/01/2032
|
785,041
|
|
|
600,000
|
5.25%, 02/29/2040
|
647,845
|
|
|
100,000
|
5.25%, 02/28/2041
|
107,202
|
|
|
|
Michigan State Housing Dev Auth, MI, Rev
|
|
|
|
2,000,000
|
2.50%, 06/01/2052
|
1,334,917
|
|
|
425,000
|
3.45%, 12/01/2030
|
428,747
|
|
|
250,000
|
4.25%, 06/01/2049
|
251,269
|
|
|
165,000
|
4.25%, 12/01/2049
|
166,312
|
|
|
1,055,000
|
5.75%, 06/01/2054
|
1,126,187
|
|
|
|
Michigan Strategic Fund, MI, Rev
|
|
|
|
695,000
|
3.35%, 10/01/2049(1)
|
693,514
|
|
|
540,000
|
3.88%, 06/01/2053(1)
|
537,733
|
|
|
1,100,000
|
Northern Michigan University, MI, Rev 5.50%,
06/01/2050
|
1,171,887
|
|
|
|
|
|
12,787,953
|
|
|
Minnesota - 0.3%
|
||
|
370,180
|
Freddie Mac Multifamily ML Certificates, MN,
Rev 2.54%, 06/25/2037
|
321,727
|
|
|
750,000
|
Minnesota Health & Education Facs Auth, MN,
Rev 3.00%, 10/01/2038
|
669,335
|
|
|
|
Minnesota Housing Finance Agency, MN, Rev,
|
|
|
|
490,000
|
(FHLMC), (FNMA), (GNMA) 5.05%,
07/01/2031
|
513,036
|
|
|
505,000
|
(FHLMC), (FNMA), (GNMA) 5.05%,
01/01/2032
|
534,075
|
|
|
|
|
|
2,038,173
|
|
|
29
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Mississippi - 0.6%
|
||
|
$ 4,000,000
|
State of Mississippi Gaming Tax, MS, Rev
5.00%, 10/15/2029
|
$4,195,055
|
|
|
|
Missouri - 2.0%
|
||
|
|
City of St. Louis Airport, MO, Rev,
|
|
|
|
750,000
|
(AG) 5.00%, 07/01/2037
|
835,227
|
|
|
100,000
|
(AG) 5.00%, 07/01/2039
|
109,809
|
|
|
|
Health & Educational Facs Auth of the State of
Missouri, MO, Rev
|
|
|
|
850,000
|
4.00%, 01/01/2050(1)
|
783,017
|
|
|
555,000
|
5.00%, 06/01/2032
|
611,753
|
|
|
6,270,000
|
5.00%, 04/01/2033
|
7,014,221
|
|
|
|
Metropolitan St. Louis Sewer Dist, MO, Rev
|
|
|
|
900,000
|
5.00%, 05/01/2038(2)
|
1,019,660
|
|
|
2,405,000
|
5.00%, 05/01/2039(2)
|
2,707,723
|
|
|
|
Missouri Housing Dev Commission, MO, Rev,
|
|
|
|
205,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
05/01/2031
|
225,102
|
|
|
225,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
05/01/2032
|
243,888
|
|
|
450,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
05/01/2033
|
491,463
|
|
|
650,000
|
St. Louis County Industrial Dev Auth, MO, Rev
5.00%, 09/01/2028
|
669,936
|
|
|
|
|
|
14,711,799
|
|
|
Montana - 0.1%
|
||
|
815,000
|
Montana Facility Finance Auth, MT, Rev 5.00%,
02/15/2065(1)
|
866,435
|
|
|
|
Nebraska - 0.1%
|
||
|
500,000
|
Nebraska Investment Finance Auth, NE, Rev,
(FHLMC), (FNMA), (GNMA) 5.00%,
03/01/2049
|
511,504
|
|
|
|
Nevada - 0.1%
|
||
|
250,000
|
City of North Las Vegas, NV, Special
Assessment 4.50%, 06/01/2039
|
250,493
|
|
|
280,000
|
City of Reno, NV, Rev, (AG) 5.00%, 06/01/2033
|
293,155
|
|
|
250,000
|
County of Clark Passenger Facility Charge, NV,
Rev 5.00%, 07/01/2028
|
262,842
|
|
|
|
|
|
806,490
|
|
|
New Hampshire - 2.5%
|
||
|
|
New Hampshire Business Finance Auth, NH,
Rev
|
|
|
|
1,295,000
|
4.00%, 12/01/2028
|
1,311,957
|
|
|
4,225,000
|
5.00%, 12/01/2035
|
4,659,497
|
|
|
650,000
|
(BAM) 5.00%, 06/01/2036
|
721,115
|
|
|
715,000
|
(BAM) 5.00%, 12/01/2036
|
791,583
|
|
|
860,000
|
(BAM) 5.00%, 12/01/2037
|
947,630
|
|
|
665,000
|
(BAM) 5.00%, 12/01/2038
|
728,808
|
|
|
5,000,000
|
5.25%, 06/01/2041
|
5,408,596
|
|
|
3,705,000
|
New Hampshire Housing Finance Auth, NH,
Rev, (FHLMC), (FNMA), (GNMA) 6.50%,
01/01/2057
|
4,280,971
|
|
|
|
|
|
18,850,157
|
|
|
New Jersey - 0.3%
|
||
|
830,000
|
New Jersey Educational Facs Auth, NJ, Rev,
(AG) 5.00%, 07/01/2043
|
897,842
|
|
|
750,000
|
New Jersey Transportation Trust Fund Auth, NJ,
Rev 5.00%, 06/15/2035
|
856,938
|
|
|
250,000
|
Tobacco Settlement Financing Corp., NJ, Rev
5.00%, 06/01/2029
|
260,204
|
|
|
|
|
|
2,014,984
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
New Mexico - 0.8%
|
||
|
$ 4,250,000
|
City of Santa Fe, NM, Rev 5.00%, 05/15/2049
|
$3,935,318
|
|
|
|
New Mexico Mortgage Finance Auth, NM, Rev,
|
|
|
|
750,000
|
(FHLMC), (FNMA), (GNMA) 2.70%,
09/01/2047
|
554,086
|
|
|
25,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
01/01/2049
|
25,077
|
|
|
1,605,000
|
(FHLMC), (FNMA), (GNMA) 6.50%,
09/01/2054
|
1,760,234
|
|
|
|
|
|
6,274,715
|
|
|
New York - 7.0%
|
||
|
750,000
|
Albany Capital Resource Corp., NY, Rev 5.00%,
05/01/2035
|
845,866
|
|
|
1,440,000
|
Build NYC Resource Corp., NY, Rev 5.00%,
12/15/2031
|
1,431,078
|
|
|
|
City of New York, NY, GO
|
|
|
|
530,000
|
5.00%, 04/01/2036
|
546,873
|
|
|
1,000,000
|
5.25%, 02/01/2053
|
1,048,801
|
|
|
515,000
|
Empire State Dev Corp., NY, Rev 5.00%,
03/15/2038
|
526,723
|
|
|
2,562,797
|
FHLMC Multifamily VRD Certificates, NY, Rev
4.60%, 06/25/2042(1)
|
2,594,776
|
|
|
|
Metropolitan Transportation Auth, NY, Rev
|
|
|
|
195,000
|
5.00%, 11/15/2033
|
212,129
|
|
|
750,000
|
5.00%, 11/15/2035
|
858,394
|
|
|
1,000,000
|
5.00%, 11/15/2045(1)
|
1,069,244
|
|
|
|
New York City Health & Hospitals Corp., NY, Rev
|
|
|
|
455,000
|
5.00%, 02/15/2036
|
519,192
|
|
|
750,000
|
5.00%, 02/15/2037
|
849,164
|
|
|
2,500,000
|
New York City Housing Dev Corp., NY, Rev
5.25%, 12/15/2031
|
2,575,411
|
|
|
|
New York City Industrial Dev Agency, NY, Rev,
|
|
|
|
670,000
|
(AG) 3.00%, 01/01/2033
|
656,145
|
|
|
150,000
|
(AG) 5.00%, 03/01/2030
|
161,489
|
|
|
|
New York City Municipal Water Finance Auth,
NY, Rev
|
|
|
|
1,200,000
|
3.00%, 06/15/2040
|
1,060,652
|
|
|
1,365,000
|
5.00%, 06/15/2044
|
1,489,188
|
|
|
|
New York City Transitional Finance Auth, Future
Tax Secured, NY, Rev
|
|
|
|
10,000,000
|
3.40%, 02/01/2045(1)
|
10,000,000
|
|
|
200,000
|
5.00%, 05/01/2037
|
222,034
|
|
|
1,930,000
|
5.00%, 05/01/2038
|
2,097,830
|
|
|
1,030,000
|
5.00%, 05/01/2042
|
1,133,599
|
|
|
1,890,000
|
New York Energy Finance Dev Corp., NY, Rev
5.00%, 07/01/2056(1)
|
1,945,936
|
|
|
|
New York Liberty Dev Corp., NY, Rev
|
|
|
|
450,000
|
0.95%, 11/15/2027
|
428,095
|
|
|
405,000
|
2.75%, 02/15/2044
|
311,836
|
|
|
2,175,000
|
5.00%, 11/15/2044(3)
|
2,176,721
|
|
|
|
New York State Dormitory Auth, NY, Rev
|
|
|
|
1,000,000
|
3.00%, 03/15/2041
|
869,346
|
|
|
630,000
|
(AG), (ST AID WITHHLDG) 5.00%,
10/01/2037
|
698,084
|
|
|
245,000
|
(AG), (ST AID WITHHLDG) 5.00%,
10/01/2038
|
270,274
|
|
|
290,000
|
5.25%, 07/01/2039
|
325,376
|
|
|
2,000,000
|
5.25%, 07/01/2040
|
2,232,052
|
|
|
750,000
|
5.25%, 07/01/2050
|
753,311
|
|
|
320,000
|
(AG) 5.50%, 07/01/2055
|
341,199
|
|
|
1,800,000
|
New York State Housing Finance Agency, NY,
Rev 2.90%, 11/15/2037(1)
|
1,800,000
|
|
|
|
New York Transportation Dev Corp., NY, Rev,
|
|
|
|
370,000
|
(AG) 0.00%, 12/31/2054(5)
|
242,836
|
|
|
865,000
|
6.00%, 06/30/2041
|
970,213
|
|
|
|
30
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
New York - 7.0% - (continued)
|
||
|
$ 4,570,000
|
6.00%, 06/30/2055
|
$4,835,245
|
|
|
|
Port Auth of New York & New Jersey, NY, Rev
|
|
|
|
500,000
|
3.00%, 10/01/2027
|
501,431
|
|
|
800,000
|
5.00%, 11/15/2035
|
806,694
|
|
|
835,000
|
5.00%, 01/15/2037
|
911,748
|
|
|
290,000
|
5.00%, 12/01/2037
|
318,351
|
|
|
700,000
|
5.00%, 11/01/2038
|
731,835
|
|
|
500,000
|
5.00%, 12/01/2038
|
546,097
|
|
|
|
|
|
51,915,268
|
|
|
North Carolina - 2.3%
|
||
|
2,570,000
|
Cumberland County Industrial Facs & Pollution
Control Financing Auth, NC, Rev 3.13%,
12/01/2027(1)
|
2,565,921
|
|
|
770,000
|
Nash Health Care Systems, NC, Rev 5.00%,
02/01/2032
|
840,361
|
|
|
|
North Carolina Housing Finance Agency, NC,
Rev,
|
|
|
|
650,000
|
(FHLMC), (FNMA), (GNMA) 3.75%,
07/01/2052
|
653,280
|
|
|
605,000
|
(FHLMC), (FNMA), (GNMA) 6.25%,
01/01/2056
|
677,435
|
|
|
|
North Carolina Medical Care Commission, NC,
Rev
|
|
|
|
545,000
|
3.40%, 10/01/2029
|
546,419
|
|
|
1,285,000
|
3.45%, 11/01/2030
|
1,278,792
|
|
|
5,000,000
|
3.45%, 11/01/2034(1)
|
5,000,000
|
|
|
670,000
|
3.90%, 01/01/2029
|
670,338
|
|
|
1,455,000
|
4.00%, 09/01/2051
|
1,195,139
|
|
|
325,000
|
4.25%, 09/01/2028
|
325,700
|
|
|
1,075,000
|
5.00%, 06/01/2032
|
1,076,787
|
|
|
395,000
|
5.00%, 01/01/2038
|
404,175
|
|
|
145,000
|
5.00%, 01/01/2039
|
139,594
|
|
|
965,000
|
5.00%, 11/01/2040
|
1,030,738
|
|
|
210,000
|
5.00%, 01/01/2044
|
212,067
|
|
|
500,000
|
5.50%, 09/01/2054
|
500,890
|
|
|
|
|
|
17,117,636
|
|
|
Ohio - 1.8%
|
||
|
1,230,000
|
Buckeye Tobacco Settlement Financing Auth,
OH, Rev 5.00%, 06/01/2055
|
975,539
|
|
|
100,000
|
Cleveland Department of Public Utilities Division
of Public Power, OH, Rev, (AG) 5.00%,
11/15/2030
|
104,056
|
|
|
|
County of Allen Hospital Facs, OH, Rev
|
|
|
|
250,000
|
5.00%, 12/01/2029
|
268,316
|
|
|
2,895,000
|
5.00%, 11/01/2039
|
3,141,865
|
|
|
4,245,000
|
Jefferson County Port Auth, OH, Rev 5.00%,
12/01/2053(1)(3)
|
4,330,110
|
|
|
845,000
|
Ohio Air Quality Dev Auth, OH, Rev 4.00%,
09/01/2030(1)
|
852,818
|
|
|
|
Ohio Housing Finance Agency, OH, Rev,
|
|
|
|
370,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
09/01/2032
|
431,613
|
|
|
360,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
03/01/2033
|
422,575
|
|
|
250,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
03/01/2034
|
296,486
|
|
|
625,000
|
(FHLMC), (FNMA), (GNMA) 6.25%,
03/01/2055
|
682,488
|
|
|
|
State of Ohio, OH, Rev
|
|
|
|
360,000
|
2.75%, 01/01/2052(1)
|
358,131
|
|
|
1,430,000
|
5.00%, 01/01/2029
|
1,514,461
|
|
|
|
|
|
13,378,458
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Oklahoma - 0.2%
|
||
|
$ 1,000,000
|
Oklahoma Municipal Power Auth, OK, Rev, (AG)
5.00%, 01/01/2037
|
$1,128,263
|
|
|
590,000
|
Oklahoma Turnpike Auth, OK, Rev 5.00%,
01/01/2039
|
663,449
|
|
|
|
|
|
1,791,712
|
|
|
Oregon - 1.0%
|
||
|
|
Albany Hospital Facility Auth, OR, Rev
|
|
|
|
745,000
|
3.20%, 11/15/2029
|
744,438
|
|
|
1,365,000
|
5.00%, 05/15/2036
|
1,481,156
|
|
|
30,000
|
Benton & Linn Counties Consolidated School
Dist No. 509J & 509A Corvallis, OR, GO,
(SCH BD GTY) 5.00%, 06/15/2038(1)(5)
|
31,098
|
|
|
|
Lincoln County School Dist, OR, GO,
|
|
|
|
425,000
|
(SCH BD GTY) 0.00%, 06/15/2035(5)
|
478,787
|
|
|
210,000
|
(SCH BD GTY) 0.00%, 06/15/2036(5)
|
234,326
|
|
|
20,000
|
Marion County School Dist No. 15 North Marion,
OR, GO, (SCH BD GTY) 0.00%,
06/15/2037(4)
|
12,490
|
|
|
115,000
|
Multnomah & Clackamas Counties School Dist
No. 10JT Gresham-Barlow, OR, GO, (SCH
BD GTY) 0.00%, 06/15/2038(4)
|
70,322
|
|
|
|
Port of Portland Airport, OR, Rev
|
|
|
|
575,000
|
5.00%, 07/01/2030
|
618,891
|
|
|
1,250,000
|
5.25%, 07/01/2040
|
1,373,003
|
|
|
40,000
|
Salem Hospital Facility Auth, OR, Rev 5.00%,
05/15/2038
|
40,530
|
|
|
|
State of Oregon Housing & Community
Services Department, OR, Rev
|
|
|
|
3,100,000
|
2.38%, 01/01/2045
|
2,287,710
|
|
|
20,000
|
4.50%, 01/01/2049
|
20,009
|
|
|
15,000
|
State of Oregon, OR, GO 4.00%, 12/01/2048
|
15,006
|
|
|
100,000
|
Washington Clackamas & Yamhill Counties
School Dist No. 88J, OR, GO, (SCH BD GTY)
0.00%, 06/15/2034(4)
|
73,743
|
|
|
|
|
|
7,481,509
|
|
|
Pennsylvania - 2.3%
|
||
|
360,000
|
Adams County General Auth, PA, Rev 3.60%,
06/01/2029
|
359,955
|
|
|
135,000
|
Armstrong School Dist, PA, GO, (BAM), (ST AID
WITHHLDG) 4.00%, 03/15/2035
|
136,687
|
|
|
735,000
|
City of Philadelphia Water & Wastewater, PA,
Rev, (AG) 5.00%, 09/01/2036
|
820,704
|
|
|
|
Coatesville School Dist, PA, GO,
|
|
|
|
3,000,000
|
(BAM), (ST AID WITHHLDG) 5.25%,
11/15/2037
|
3,191,255
|
|
|
230,000
|
(AG), (ST AID WITHHLDG) 5.25%,
11/15/2040
|
252,068
|
|
|
2,000,000
|
(AG), (ST AID WITHHLDG) 5.25%,
11/15/2042
|
2,176,759
|
|
|
605,000
|
(AG), (ST AID WITHHLDG) 5.25%,
11/15/2043
|
652,150
|
|
|
100,000
|
Commonwealth Financing Auth, PA, Rev 5.00%,
06/01/2027
|
102,437
|
|
|
450,000
|
Doylestown Hospital Auth, PA, Rev 5.38%,
07/01/2039(3)
|
491,535
|
|
|
585,000
|
Hospitals & Higher Education Facs Auth of
Philadelphia, PA, Rev, (AG) 5.00%,
07/01/2037
|
630,144
|
|
|
345,000
|
Lancaster Industrial Dev Auth, PA, Rev 4.00%,
07/01/2056
|
272,077
|
|
|
|
Montgomery County Industrial Dev Auth, PA,
Rev
|
|
|
|
230,000
|
5.00%, 12/01/2030
|
230,207
|
|
|
240,000
|
5.00%, 12/01/2044
|
241,205
|
|
|
|
31
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Pennsylvania - 2.3% - (continued)
|
||
|
$ 100,000
|
5.00%, 12/01/2046
|
$96,932
|
|
|
|
Pennsylvania Economic Dev Financing Auth
Parking System, PA, Rev,
|
|
|
|
465,000
|
(AG) 5.00%, 01/01/2038
|
499,410
|
|
|
290,000
|
(AG) 5.00%, 01/01/2040
|
309,736
|
|
|
100,000
|
Pennsylvania Economic Dev Financing Auth,
PA, Rev 5.00%, 05/15/2038
|
108,143
|
|
|
240,000
|
Pennsylvania Higher Education Assistance
Agency, PA, Rev 5.00%, 06/01/2029
|
249,877
|
|
|
750,000
|
Pennsylvania Higher Educational Facs Auth, PA,
Rev 5.00%, 05/01/2037
|
758,973
|
|
|
90,000
|
Pennsylvania Housing Finance Agency, PA, Rev
4.00%, 10/01/2038
|
89,906
|
|
|
|
Pennsylvania Turnpike Commission, PA, Rev
|
|
|
|
150,000
|
5.00%, 12/01/2030
|
155,411
|
|
|
1,500,000
|
5.00%, 12/01/2042
|
1,530,354
|
|
|
1,000,000
|
Philadelphia Housing Auth, PA, Rev 5.00%,
03/01/2028
|
1,038,659
|
|
|
|
Pittsburgh Water & Sewer Auth, PA, Rev,
|
|
|
|
15,000
|
(AG) 5.00%, 09/01/2034
|
15,952
|
|
|
1,245,000
|
(AG) 5.00%, 09/01/2036
|
1,385,004
|
|
|
875,000
|
School Dist of Philadelphia, PA, GO, (ST AID
WITHHLDG) 5.00%, 09/01/2035
|
966,545
|
|
|
|
|
|
16,762,085
|
|
|
Puerto Rico - 2.8%
|
||
|
5,950,000
|
Commonwealth of Puerto Rico, PR, GO 5.63%,
07/01/2027
|
6,059,877
|
|
|
|
Puerto Rico Sales Tax Financing Corp., PR, Rev
|
|
|
|
8,851,000
|
0.00%, 07/01/2027(4)
|
8,529,187
|
|
|
3,119,000
|
0.00%, 07/01/2029(4)
|
2,810,035
|
|
|
2,500,000
|
4.33%, 07/01/2040
|
2,471,677
|
|
|
625,000
|
5.00%, 07/01/2058
|
607,066
|
|
|
|
|
|
20,477,842
|
|
|
Rhode Island - 1.9%
|
||
|
|
City of Pawtucket, RI, GO,
|
|
|
|
500,000
|
(AG) 5.00%, 11/01/2040
|
549,550
|
|
|
625,000
|
(AG) 5.00%, 11/01/2041
|
683,915
|
|
|
500,000
|
(AG) 5.00%, 11/01/2042
|
544,144
|
|
|
|
Providence Public Building Auth, RI, Rev,
|
|
|
|
1,000,000
|
(AG) 5.00%, 09/15/2037
|
1,110,750
|
|
|
665,000
|
(AG) 5.00%, 09/15/2038
|
734,050
|
|
|
|
Rhode Island Health & Educational Building
Corp., RI, Rev
|
|
|
|
880,000
|
5.00%, 05/15/2031
|
950,443
|
|
|
1,250,000
|
(BAM), (ST AID WITHHLDG) 5.00%,
05/15/2032
|
1,391,179
|
|
|
585,000
|
(BAM), (ST AID WITHHLDG) 5.00%,
05/15/2034
|
662,405
|
|
|
670,000
|
(AG) 5.00%, 07/01/2038
|
713,855
|
|
|
215,000
|
(AG) 5.63%, 07/01/2065
|
218,854
|
|
|
|
Rhode Island Student Loan Auth, RI, Rev
|
|
|
|
400,000
|
5.00%, 12/01/2027
|
411,741
|
|
|
765,000
|
5.00%, 12/01/2028
|
798,214
|
|
|
950,000
|
5.00%, 12/01/2029
|
1,004,440
|
|
|
465,000
|
5.00%, 12/01/2031
|
498,119
|
|
|
1,750,000
|
5.00%, 12/01/2032
|
1,869,865
|
|
|
1,800,000
|
5.00%, 12/01/2033
|
1,922,943
|
|
|
|
|
|
14,064,467
|
|
|
South Carolina - 1.0%
|
||
|
785,000
|
Patriots Energy Group Financing Agency, SC,
Rev 5.25%, 02/01/2054(1)
|
842,552
|
|
|
|
South Carolina Jobs-Economic Dev Auth, SC,
Rev
|
|
|
|
945,000
|
4.00%, 12/01/2030
|
947,294
|
|
|
1,500,000
|
5.00%, 11/01/2036
|
1,658,407
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
South Carolina - 1.0% - (continued)
|
||
|
$ 345,000
|
5.00%, 11/01/2037
|
$378,528
|
|
|
|
South Carolina Public Service Auth, SC, Rev
|
|
|
|
500,000
|
4.00%, 12/01/2034
|
511,890
|
|
|
625,000
|
4.00%, 12/01/2038
|
630,809
|
|
|
|
South Carolina State Housing Finance & Dev
Auth, SC, Rev
|
|
|
|
1,050,000
|
5.75%, 01/01/2054
|
1,135,497
|
|
|
1,405,000
|
(FHLMC), (FNMA), (GNMA) 6.50%,
07/01/2055
|
1,594,710
|
|
|
|
|
|
7,699,687
|
|
|
South Dakota - 1.0%
|
||
|
2,215,000
|
South Dakota Health & Educational Facs Auth,
SD, Rev 5.00%, 11/01/2052(1)
|
2,343,405
|
|
|
|
South Dakota Housing Dev Auth, SD, Rev
|
|
|
|
255,000
|
4.50%, 11/01/2048
|
256,593
|
|
|
240,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
05/01/2054
|
253,864
|
|
|
3,835,000
|
(FHLMC), (FNMA), (GNMA) 6.25%,
05/01/2056
|
4,337,019
|
|
|
|
|
|
7,190,881
|
|
|
Tennessee - 1.0%
|
||
|
|
Metropolitan Government Nashville & Davidson
County Health & Educational Facs Board,
TN, Rev
|
|
|
|
515,000
|
5.00%, 05/01/2035
|
564,580
|
|
|
2,510,000
|
5.00%, 07/01/2035
|
2,828,080
|
|
|
195,000
|
5.00%, 05/01/2038
|
210,258
|
|
|
|
Tennessee Energy Acquisition Corp., TN, Rev
|
|
|
|
365,000
|
5.00%, 02/01/2027
|
368,378
|
|
|
3,000,000
|
5.00%, 11/01/2034
|
3,206,168
|
|
|
40,000
|
Tennessee Housing Dev Agency, TN, Rev
4.00%, 01/01/2049
|
40,138
|
|
|
|
|
|
7,217,602
|
|
|
Texas - 10.7%
|
||
|
1,380,000
|
Allen Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2035
|
1,561,954
|
|
|
160,000
|
Austin-Bergstrom Landhost Enterprises, Inc.,
TX, Rev 5.00%, 10/01/2029
|
163,349
|
|
|
|
Boerne Independent School Dist, TX, GO,
|
|
|
|
1,025,000
|
(PSF-GTD) 3.13%, 02/01/2053(1)
|
1,025,479
|
|
|
225,000
|
(PSF-GTD) 4.00%, 02/01/2054(1)
|
228,899
|
|
|
|
Brazos Higher Education Auth, Inc., TX, Rev
|
|
|
|
2,500,000
|
5.00%, 04/01/2031
|
2,640,852
|
|
|
1,300,000
|
5.00%, 04/01/2033
|
1,386,081
|
|
|
2,000,000
|
5.00%, 04/01/2034
|
2,120,059
|
|
|
|
Central Texas Regional Mobility Auth, TX, Rev
|
|
|
|
1,425,000
|
4.00%, 01/01/2035
|
1,460,203
|
|
|
505,000
|
4.00%, 01/01/2036
|
515,171
|
|
|
1,490,000
|
5.00%, 01/01/2046
|
1,535,474
|
|
|
|
City of Austin Airport System, TX, Rev
|
|
|
|
1,025,000
|
5.00%, 11/15/2032
|
1,126,529
|
|
|
500,000
|
5.00%, 11/15/2039
|
533,300
|
|
|
4,200,000
|
5.00%, 11/15/2043(2)
|
4,499,799
|
|
|
|
City of Dallas Hotel Occupancy Tax, TX, Rev
|
|
|
|
1,535,000
|
4.00%, 08/15/2033
|
1,536,666
|
|
|
100,000
|
4.00%, 08/15/2034
|
100,085
|
|
|
535,000
|
City of Dallas, TX, GO 5.00%, 02/15/2028
|
545,145
|
|
|
|
City of San Antonio Electric & Gas Systems,
TX, Rev
|
|
|
|
1,235,000
|
2.90%, 02/01/2055(1)
|
1,229,598
|
|
|
2,010,000
|
3.08%, 02/01/2055(1)
|
2,008,210
|
|
|
245,000
|
5.00%, 02/01/2039
|
271,933
|
|
|
|
Clifton Higher Education Finance Corp., TX,
Rev,
|
|
|
|
425,000
|
(PSF-GTD) 5.00%, 04/01/2035
|
472,013
|
|
|
|
32
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Texas - 10.7% - (continued)
|
||
|
$ 350,000
|
(PSF-GTD) 5.00%, 04/01/2036
|
$386,218
|
|
|
975,000
|
(PSF-GTD) 5.00%, 08/15/2036
|
1,055,874
|
|
|
400,000
|
County of Fort Bend Toll Road, TX, Rev, (AG)
5.00%, 03/01/2034
|
450,938
|
|
|
|
Dallas Fort Worth International Airport, TX, Rev
|
|
|
|
1,500,000
|
5.00%, 11/01/2031
|
1,634,559
|
|
|
4,500,000
|
5.00%, 11/01/2032
|
4,936,009
|
|
|
1,000,000
|
East Montgomery County Improvement Dist
Sales Tax, TX, Rev, (AG) 5.00%, 08/15/2035
|
1,115,336
|
|
|
1,735,000
|
El Paso County Hospital Dist, TX, GO, (AG)
5.00%, 02/15/2035
|
1,951,129
|
|
|
|
El Paso Independent School Dist, TX, GO,
|
|
|
|
2,645,000
|
(PSF-GTD) 5.00%, 08/15/2036(2)
|
2,978,964
|
|
|
2,750,000
|
(PSF-GTD) 5.00%, 08/15/2040(2)
|
3,023,309
|
|
|
1,350,000
|
Fort Bend Independent School Dist, TX, GO,
(PSF-GTD) 3.80%, 08/01/2055(1)
|
1,374,245
|
|
|
450,000
|
Harris County Industrial Dev Corp., TX, Rev
4.05%, 11/01/2050(1)
|
460,308
|
|
|
|
Harris County-Houston Sports Auth, TX, Rev,
|
|
|
|
1,510,000
|
(AG) 5.00%, 11/15/2032
|
1,669,012
|
|
|
1,780,000
|
(AG) 5.00%, 11/15/2033
|
1,983,340
|
|
|
400,000
|
Hidalgo County Regional Mobility Auth, TX, Rev
5.00%, 12/01/2030
|
422,797
|
|
|
825,000
|
Hutto Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 08/01/2036
|
918,860
|
|
|
800,000
|
Leander Independent School Dist, TX, GO,
(PSF-GTD) 0.00%, 08/15/2027(4)
|
770,639
|
|
|
|
New Hope Cultural Education Facs Finance
Corp., TX, Rev
|
|
|
|
675,000
|
4.25%, 10/01/2030
|
669,273
|
|
|
550,000
|
5.00%, 11/01/2046
|
463,556
|
|
|
1,410,000
|
North East Texas Regional Mobility Auth, TX,
Rev 5.00%, 01/01/2037
|
1,557,850
|
|
|
|
Northside Independent School Dist, TX, GO,
|
|
|
|
1,250,000
|
(PSF-GTD) 2.00%, 06/01/2052(1)
|
1,236,699
|
|
|
2,500,000
|
(PSF-GTD) 3.55%, 06/01/2050(1)
|
2,530,834
|
|
|
2,000,000
|
San Antonio Water System, TX, Rev 1.00%,
05/01/2043(1)
|
1,976,883
|
|
|
500,000
|
Southwest Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/01/2036
|
544,238
|
|
|
5,600,000
|
State of Texas, TX, GO 3.45%, 12/01/2050(1)
|
5,600,000
|
|
|
1,290,000
|
Tarrant County Cultural Education Facs Finance
Corp., TX, Rev 5.00%, 11/15/2051(1)
|
1,418,176
|
|
|
|
Texas Department of Housing & Community
Affairs, TX, Rev,
|
|
|
|
1,250,000
|
(GNMA) 2.25%, 07/01/2041
|
969,176
|
|
|
2,125,000
|
(GNMA) 3.00%, 03/01/2050
|
1,635,324
|
|
|
1,430,000
|
(GNMA) 3.63%, 09/01/2044
|
1,312,499
|
|
|
4,900,000
|
Texas Municipal Gas Acquisition & Supply Corp.
V, TX, Rev 5.00%, 01/01/2055(1)
|
5,224,167
|
|
|
3,000,000
|
Texas Municipal Gas Acquisition & Supply Corp.
VI, TX, Rev 5.00%, 01/01/2036
|
3,167,346
|
|
|
500,000
|
Texas Public Finance Auth, TX, Rev 4.00%,
02/01/2034
|
507,816
|
|
|
200,000
|
Texas Transportation Commission State
Highway 249 System, TX, Rev 0.00%,
08/01/2038(4)
|
115,332
|
|
|
|
Uptown Dev Auth, TX, Tax Allocation
|
|
|
|
220,000
|
4.00%, 09/01/2032
|
216,658
|
|
|
250,000
|
4.00%, 09/01/2035
|
239,741
|
|
|
|
|
|
79,477,904
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Utah - 1.3%
|
||
|
$ 590,000
|
County of Salt Lake, UT, Rev, (AMBAC) 5.13%,
02/15/2033
|
$596,302
|
|
|
|
Downtown Revitalization Public Infrastructure
Dist, UT, Rev,
|
|
|
|
1,000,000
|
(AG) 5.00%, 06/01/2035
|
1,135,830
|
|
|
1,000,000
|
(AG) 5.00%, 06/01/2036
|
1,126,741
|
|
|
500,000
|
Mida Cormont Public Infrastructure Dist, UT, GO
0.00%, 06/01/2055(3)(5)
|
434,903
|
|
|
|
Mida Mountain Village Public Infrastructure Dist,
UT, Tax Allocation
|
|
|
|
2,930,000
|
5.13%, 06/15/2054(3)
|
2,938,750
|
|
|
3,000,000
|
6.00%, 06/15/2054(3)
|
3,086,702
|
|
|
|
|
|
9,319,228
|
|
|
Virginia - 1.0%
|
||
|
1,325,000
|
Arlington County Industrial Dev Auth, VA, Rev
5.00%, 07/01/2053(1)
|
1,415,163
|
|
|
750,000
|
Henrico County Economic Dev Auth, VA, Rev
5.00%, 10/01/2047
|
752,691
|
|
|
620,000
|
Virginia Beach Dev Auth, VA, Rev 5.38%,
09/01/2029
|
623,413
|
|
|
|
Virginia Small Business Financing Auth, VA, Rev
|
|
|
|
1,000,000
|
4.00%, 01/01/2033
|
1,010,458
|
|
|
1,100,000
|
4.00%, 07/01/2034
|
1,105,054
|
|
|
1,000,000
|
4.00%, 01/01/2036
|
992,130
|
|
|
835,000
|
5.00%, 07/01/2035
|
881,722
|
|
|
350,000
|
5.00%, 12/31/2047
|
352,641
|
|
|
|
|
|
7,133,272
|
|
|
Washington - 2.9%
|
||
|
185,000
|
King County Housing Auth, WA, Rev 5.38%,
07/01/2045
|
195,809
|
|
|
5,180,000
|
Port of Seattle, WA, GO 5.00%, 01/01/2033
|
5,260,007
|
|
|
|
Port of Seattle, WA, Rev
|
|
|
|
1,600,000
|
5.25%, 07/01/2039
|
1,771,814
|
|
|
595,000
|
5.25%, 07/01/2041
|
653,758
|
|
|
1,450,000
|
Seattle Housing Auth, WA, Rev 5.00%,
12/01/2029
|
1,515,403
|
|
|
|
Washington Health Care Facs Auth, WA, Rev
|
|
|
|
1,500,000
|
4.00%, 08/01/2044
|
1,369,574
|
|
|
2,040,000
|
5.00%, 09/01/2037
|
2,241,017
|
|
|
1,200,000
|
5.00%, 09/01/2038
|
1,309,327
|
|
|
1,500,000
|
5.00%, 09/01/2039
|
1,629,835
|
|
|
1,725,000
|
5.00%, 10/01/2042
|
1,725,432
|
|
|
|
Washington State Housing Finance
Commission, WA, Rev
|
|
|
|
500,000
|
5.00%, 01/01/2031(3)
|
503,401
|
|
|
3,105,000
|
(BAM) 5.00%, 07/01/2045(3)
|
3,189,885
|
|
|
|
|
|
21,365,262
|
|
|
West Virginia - 0.4%
|
||
|
|
County of Ohio Special Dist Excise Tax, WV,
Rev,
|
|
|
|
550,000
|
(AG) 5.00%, 06/01/2031
|
592,427
|
|
|
500,000
|
(AG) 5.00%, 06/01/2032
|
541,136
|
|
|
500,000
|
(AG) 5.00%, 06/01/2033
|
551,573
|
|
|
500,000
|
(AG) 5.00%, 06/01/2034
|
547,289
|
|
|
690,000
|
West Virginia Economic Dev Auth, WV, Rev
4.63%, 04/15/2055(1)
|
705,848
|
|
|
|
|
|
2,938,273
|
|
|
Wisconsin - 3.8%
|
||
|
|
Public Finance Auth, WI, Rev
|
|
|
|
1,195,000
|
3.63%, 06/15/2063(1)
|
1,188,910
|
|
|
505,000
|
4.00%, 10/01/2041
|
499,320
|
|
|
835,000
|
4.00%, 10/01/2046(1)
|
848,700
|
|
|
170,000
|
(AG) 4.00%, 07/01/2050
|
148,715
|
|
|
1,500,000
|
5.00%, 06/01/2031
|
1,623,512
|
|
|
625,000
|
5.00%, 06/01/2032
|
682,038
|
|
|
|
33
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 95.2% - (continued)
|
|||
|
|
Wisconsin - 3.8% - (continued)
|
||
|
$ 1,000,000
|
(AG) 5.00%, 07/01/2036
|
$1,027,132
|
|
|
510,000
|
5.00%, 12/15/2039(3)
|
511,149
|
|
|
750,000
|
5.00%, 10/01/2043(3)
|
750,095
|
|
|
465,000
|
5.00%, 10/01/2044
|
472,814
|
|
|
400,000
|
5.00%, 12/15/2044(3)
|
387,535
|
|
|
2,680,000
|
5.25%, 11/15/2055
|
2,715,553
|
|
|
2,035,000
|
5.25%, 11/15/2061
|
2,051,356
|
|
|
750,000
|
5.50%, 06/15/2055
|
750,433
|
|
|
1,640,000
|
6.50%, 06/30/2060
|
1,805,217
|
|
|
|
State of Wisconsin, WI, GO
|
|
|
|
470,000
|
5.00%, 05/01/2030(2)
|
501,362
|
|
|
495,000
|
5.00%, 05/01/2031(2)
|
536,172
|
|
|
125,000
|
5.00%, 05/01/2032(2)
|
137,223
|
|
|
|
University of Wisconsin Hospitals & Clinics, WI,
Rev
|
|
|
|
310,000
|
4.00%, 04/01/2035
|
316,181
|
|
|
220,000
|
4.00%, 04/01/2039
|
220,058
|
|
|
650,000
|
5.00%, 04/01/2037
|
723,358
|
|
|
265,000
|
5.00%, 04/01/2038
|
293,833
|
|
|
120,000
|
Wisconsin Center Dist, WI, Rev, (AG) 0.00%,
12/15/2029(4)
|
106,955
|
|
|
|
Wisconsin Health & Educational Facs Auth, WI,
Rev
|
|
|
|
1,000,000
|
5.00%, 08/15/2035
|
1,117,819
|
|
|
1,550,000
|
5.00%, 11/01/2035
|
1,694,330
|
|
|
1,500,000
|
5.00%, 08/15/2036
|
1,662,131
|
|
|
840,000
|
5.00%, 11/01/2039
|
843,505
|
|
|
680,000
|
5.75%, 08/15/2059
|
698,772
|
|
|
|
Wisconsin Housing & Economic Dev Auth Home
Ownership, WI, Rev,
|
|
|
|
875,000
|
(FHLMC), (FNMA), (GNMA) 5.50%,
09/01/2031
|
973,673
|
|
|
1,405,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
09/01/2054
|
1,515,836
|
|
|
1,200,000
|
(FHLMC), (FNMA), (GNMA) 6.00%,
03/01/2055
|
1,295,853
|
|
|
|
|
|
28,099,540
|
|
|
Wyoming - 0.0%
|
||
|
265,000
|
Wyoming Community Dev Auth, WY, Rev 6.00%,
12/01/2054
|
286,354
|
|
|
|
Total Municipal Bonds
(cost $702,125,190)
|
|
$704,361,024
|
|
U.S. GOVERNMENT AGENCIES - 0.1%
|
|||
|
|
Mortgage-Backed Agencies - 0.1%
|
||
|
|
Federal Home Loan Mortgage Corp. - 0.1%
|
||
|
1,115,000
|
3.15%, 10/15/2036
|
$1,005,134
|
|
|
|
Total U.S. Government Agencies
(cost $1,131,876)
|
|
$1,005,134
|
|
|
Total Long-Term Investments
(cost $711,404,347)
|
|
$713,306,364
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SHORT-TERM INVESTMENTS - 1.0%
|
|||
|
|
Repurchase Agreements - 1.0%
|
||
|
$ 7,935,678
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 04/30/2026 at 3.64%,
due on 05/01/2026 with a maturity value of
$7,936,480; collateralized by U.S. Treasury
Note at 3.63%, maturing 09/30/2030, with
a market value of $8,094,500
|
$7,935,678
|
|
|
|
Total Short-Term Investments
(cost $7,935,678)
|
$7,935,678
|
|
|
|
Total Investments
(cost $719,340,025)
|
97.4
%
|
$721,242,042
|
|
|
Other Assets and Liabilities
|
2.6
%
|
18,912,798
|
|
|
Net Assets
|
100.0
%
|
$740,154,840
|
|
(1)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain
variable rate securities are not based on a published reference rate and spread but
are determined by the issuer or agent and are based on current market conditions;
these securities do not indicate a reference rate and spread in the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(2)
|
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
$21,507,414 at April 30, 2026.
|
|
(3)
|
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 April 30, 2026, the aggregate value of these securities was
$26,541,979, representing 3.6% of net assets.
|
|
(4)
|
Security is a zero-coupon bond.
|
|
(5)
|
Security is a “step-up” bond where coupon increases or steps up at a
predetermined date. Rate shown is current coupon rate.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
|
34
|
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Asset-Backed & Commercial Mortgage-Backed Securities
|
$7,940,206
|
$—
|
$7,940,206
|
$—
|
|
Municipal Bonds
|
704,361,024
|
—
|
704,361,024
|
—
|
|
U.S. Government Agencies
|
1,005,134
|
—
|
1,005,134
|
—
|
|
Short-Term Investments
|
7,935,678
|
—
|
7,935,678
|
—
|
|
Total
|
$721,242,042
|
$—
|
$721,242,042
|
$—
|
|
(1)
|
For the period ended April 30, 2026, there were no transfers in and out of Level 3.
|
|
|
35
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 0.7%
|
|||
|
|
Software - 0.7%
|
||
|
$ 2,041,000
|
Oracle Corp. 4.95%, 02/04/2031
|
$1,996,474
|
|
|
|
Total Corporate Bonds
(cost $2,037,612)
|
$1,996,474
|
|
|
MUNICIPAL BONDS - 77.7%
|
|||
|
|
Alabama - 8.1%
|
||
|
4,475,000
|
Alabama Housing Finance Auth, AL, Rev,
(FHLMC), (FNMA), (GNMA) 5.50%,
04/01/2056
|
$4,840,829
|
|
|
|
Black Belt Energy Gas Dist, AL, Rev
|
|
|
|
2,680,000
|
4.00%, 06/01/2051(1)
|
2,715,830
|
|
|
1,110,000
|
5.00%, 07/01/2033
|
1,165,884
|
|
|
1,360,000
|
5.00%, 10/01/2033(2)
|
1,450,164
|
|
|
855,000
|
5.00%, 12/01/2034
|
897,281
|
|
|
2,140,000
|
5.00%, 12/01/2035
|
2,266,991
|
|
|
685,000
|
5.25%, 12/01/2053(1)
|
735,992
|
|
|
635,000
|
Energy Southeast A Cooperative Dist, AL, Rev
5.25%, 07/01/2054(1)
|
677,893
|
|
|
|
Southeast Energy Auth A Cooperative Dist, AL,
Rev
|
|
|
|
4,665,000
|
5.00%, 10/01/2030
|
4,985,480
|
|
|
4,505,000
|
5.00%, 05/01/2055(1)
|
4,793,638
|
|
|
|
|
|
24,529,982
|
|
|
Arizona - 0.6%
|
||
|
|
Arizona Board of Regents, AZ, Rev
|
|
|
|
665,000
|
5.00%, 07/01/2045
|
722,453
|
|
|
705,000
|
5.00%, 07/01/2046
|
758,591
|
|
|
435,000
|
Industrial Dev Auth of the City of Tucson, AZ,
Rev 4.63%, 06/01/2044
|
439,622
|
|
|
|
|
|
1,920,666
|
|
|
Arkansas - 2.7%
|
||
|
|
Arkansas Dev Finance Auth, AR, Rev,
|
|
|
|
3,105,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
07/01/2054
|
3,257,988
|
|
|
950,000
|
(FHLMC), (FNMA), (GNMA) 5.00%,
01/01/2055
|
1,002,984
|
|
|
2,515,000
|
(FHLMC), (FNMA), (GNMA) 5.50%,
01/01/2056
|
2,723,461
|
|
|
1,090,000
|
(FHLMC), (FNMA), (GNMA) 5.50%,
01/01/2057(2)
|
1,187,347
|
|
|
|
|
|
8,171,780
|
|
|
California - 2.2%
|
||
|
|
California Community Choice Financing Auth,
CA, Rev
|
|
|
|
1,640,000
|
5.00%, 03/01/2036
|
1,714,510
|
|
|
210,000
|
5.00%, 02/01/2054(1)
|
221,780
|
|
|
860,000
|
5.25%, 02/01/2036
|
926,146
|
|
|
2,330,000
|
California Infrastructure & Economic Dev Bank,
CA, Rev 5.25%, 07/01/2054
|
2,345,329
|
|
|
345,000
|
Central Valley Energy Auth, CA, Rev 5.00%,
08/01/2034
|
366,914
|
|
|
1,245,000
|
Golden State Tobacco Securitization Corp., CA,
Rev, (ST APPROP) 3.00%, 06/01/2046
|
1,143,330
|
|
|
|
|
|
6,718,009
|
|
|
Colorado - 1.5%
|
||
|
3,050,000
|
City & County of Denver, CO, Rev, (FNMA)
4.70%, 10/01/2042
|
3,224,735
|
|
|
1,225,000
|
Colorado Educational & Cultural Facs Auth, CO,
Rev, (BAM) 4.25%, 07/01/2054
|
1,070,440
|
|
|
230,000
|
Colorado Housing & Finance Auth, CO, Rev,
(FHLMC), (FNMA), (GNMA) 3.50%,
05/01/2050
|
229,219
|
|
|
|
|
|
4,524,394
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 77.7% - (continued)
|
|||
|
|
Connecticut - 0.4%
|
||
|
$ 35,000
|
Connecticut Housing Finance Auth, CT, Rev,
(FHLMC), (FNMA), (GNMA) 4.25%,
05/15/2042
|
$35,178
|
|
|
1,145,000
|
Waterbury Housing Auth, CT, Rev, (HUD),
(FHLMC) 4.50%, 02/01/2042
|
1,152,573
|
|
|
|
|
|
1,187,751
|
|
|
District of Columbia - 0.8%
|
||
|
2,000,000
|
Dist of Columbia Housing Finance Agency, DC,
Rev, (FNMA) 4.88%, 09/01/2045
|
2,065,006
|
|
|
340,000
|
Metropolitan Washington Airports Auth, Dulles
Toll Road, DC, Rev 5.00%, 10/01/2034
|
356,611
|
|
|
|
|
|
2,421,617
|
|
|
Florida - 3.9%
|
||
|
2,745,000
|
County of Broward Convention Center Hotel,
FL, Rev 4.00%, 01/01/2051
|
2,496,107
|
|
|
410,000
|
Florida Dev Finance Corp., FL, Rev 5.25%,
08/01/2055
|
419,846
|
|
|
|
Florida Housing Finance Corp., FL, Rev,
|
|
|
|
30,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
07/01/2051
|
29,668
|
|
|
500,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
07/01/2052
|
493,480
|
|
|
3,160,000
|
3.15%, 01/01/2044(1)
|
3,164,473
|
|
|
200,000
|
(FHLMC), (FNMA), (GNMA) 3.50%,
07/01/2051
|
199,748
|
|
|
50,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
07/01/2049
|
50,054
|
|
|
90,000
|
Lee County Housing Finance Auth, FL, Rev
2.65%, 12/01/2047(1)
|
88,517
|
|
|
1,865,000
|
Miami-Dade County Housing Finance Auth, FL,
Rev, (FNMA), (HUD) 4.88%, 03/01/2046
|
1,895,219
|
|
|
2,675,000
|
Orange County Health Facs Auth, FL, Rev
5.25%, 10/01/2056
|
2,777,989
|
|
|
|
|
|
11,615,101
|
|
|
Georgia - 4.6%
|
||
|
|
Main Street Natural Gas, Inc., GA, Rev
|
|
|
|
485,000
|
4.00%, 05/01/2052(1)
|
491,879
|
|
|
1,525,000
|
5.00%, 12/01/2053(1)
|
1,626,592
|
|
|
615,000
|
5.00%, 05/01/2054(1)
|
658,778
|
|
|
5,535,000
|
5.00%, 05/01/2055(1)
|
5,858,671
|
|
|
1,165,000
|
5.00%, 06/01/2055(1)
|
1,251,716
|
|
|
3,835,000
|
Municipal Electric Auth of Georgia, GA, Rev,
(BAM) 5.25%, 01/01/2054
|
3,986,881
|
|
|
|
|
|
13,874,517
|
|
|
Hawaii - 0.2%
|
||
|
640,000
|
State of Hawaii Airports System, HI, Rev
5.00%, 07/01/2049
|
673,332
|
|
|
|
Illinois - 1.4%
|
||
|
1,940,000
|
Chicago O'Hare International Airport, IL, Rev
5.50%, 01/01/2059
|
2,045,887
|
|
|
|
Illinois Housing Dev Auth, IL, Rev
|
|
|
|
105,000
|
2.80%, 04/01/2029(1)
|
104,414
|
|
|
265,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
10/01/2051
|
261,387
|
|
|
315,000
|
3.15%, 08/01/2029(1)
|
315,662
|
|
|
350,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
10/01/2049
|
351,731
|
|
|
25,000
|
(FHLMC), (FNMA), (GNMA) 4.50%,
10/01/2048
|
25,259
|
|
|
1,255,000
|
Metropolitan Pier & Exposition Auth, IL, Rev
5.00%, 06/15/2053
|
1,237,536
|
|
|
|
|
|
4,341,876
|
|
|
36
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 77.7% - (continued)
|
|||
|
|
Indiana - 0.9%
|
||
|
$ 1,305,000
|
Indiana Finance Auth, IN, Rev 5.50%,
10/01/2055
|
$1,373,408
|
|
|
|
Indiana Housing & Community Dev Auth, IN,
Rev,
|
|
|
|
505,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
07/01/2050
|
498,264
|
|
|
25,000
|
(GNMA) 4.00%, 07/01/2048
|
25,073
|
|
|
705,000
|
Indianapolis Local Public Improvement Bond
Bank, IN, Rev 5.00%, 01/01/2053
|
714,136
|
|
|
|
|
|
2,610,881
|
|
|
Iowa - 0.2%
|
||
|
|
Iowa Finance Auth, IA, Rev,
|
|
|
|
570,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
01/01/2047
|
562,597
|
|
|
145,000
|
(FHLMC), (FNMA), (GNMA) 3.25%,
07/01/2050
|
143,988
|
|
|
15,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
07/01/2048
|
15,040
|
|
|
|
|
|
721,625
|
|
|
Kentucky - 2.4%
|
||
|
|
Kentucky Public Energy Auth, KY, Rev
|
|
|
|
2,510,000
|
5.00%, 01/01/2055(1)
|
2,660,558
|
|
|
2,285,000
|
5.25%, 04/01/2054(1)
|
2,437,407
|
|
|
1,955,000
|
5.25%, 06/01/2055(1)
|
2,068,199
|
|
|
|
|
|
7,166,164
|
|
|
Louisiana - 0.4%
|
||
|
5,000
|
Louisiana Housing Corp., LA, Rev 4.50%,
12/01/2047
|
5,033
|
|
|
1,385,000
|
Louisiana Local Government Environmental
Facs & Community Dev Auth, LA, Rev 2.50%,
04/01/2036
|
1,194,382
|
|
|
|
|
|
1,199,415
|
|
|
Maryland - 0.9%
|
||
|
2,650,000
|
Maryland Community Dev Administration, MD,
Rev, (FNMA) 4.35%, 02/01/2044
|
2,609,990
|
|
|
|
Massachusetts - 0.0%
|
||
|
120,000
|
Commonwealth of Massachusetts, MA, GO
3.00%, 02/01/2048
|
91,562
|
|
|
|
Michigan - 0.7%
|
||
|
700,000
|
Cedar Springs Public School Dist, MI, GO,
(Q-SBLF) 4.50%, 05/01/2049
|
694,486
|
|
|
770,000
|
Ferndale Public Schools, MI, GO, (Q-SBLF)
5.00%, 05/01/2053
|
794,986
|
|
|
|
Grosse Ile Township School Dist, MI, GO,
|
|
|
|
90,000
|
(Q-SBLF) 5.00%, 05/01/2049
|
93,192
|
|
|
625,000
|
(Q-SBLF) 5.00%, 05/01/2052
|
641,637
|
|
|
30,000
|
Michigan State Housing Dev Auth, MI, Rev
3.75%, 06/01/2050
|
30,017
|
|
|
|
|
|
2,254,318
|
|
|
Mississippi - 0.6%
|
||
|
|
Mississippi Home Corp., MS, Rev,
|
|
|
|
115,000
|
(FHLMC), (FNMA), (GNMA) 3.25%,
12/01/2050
|
114,409
|
|
|
1,590,000
|
(FNMA), (HUD) 4.55%, 04/01/2042
|
1,601,657
|
|
|
|
|
|
1,716,066
|
|
|
Missouri - 1.8%
|
||
|
|
Missouri Housing Dev Commission, MO, Rev,
|
|
|
|
415,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
05/01/2052
|
409,239
|
|
|
260,000
|
(FHLMC), (FNMA), (GNMA) 3.25%,
05/01/2051
|
258,083
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 77.7% - (continued)
|
|||
|
|
Missouri - 1.8% - (continued)
|
||
|
$ 100,000
|
(FHLMC), (FNMA), (GNMA) 3.50%,
11/01/2050
|
$99,710
|
|
|
125,000
|
(FHLMC), (FNMA), (GNMA) 3.88%,
05/01/2050
|
125,232
|
|
|
50,000
|
(FHLMC), (FNMA), (GNMA) 4.25%,
05/01/2049
|
50,223
|
|
|
40,000
|
(FHLMC), (FNMA), (GNMA) 4.75%,
05/01/2049
|
40,404
|
|
|
2,345,000
|
Missouri Joint Municipal Electric Utility
Commission, MO, Rev 5.25%, 01/01/2056
|
2,460,782
|
|
|
385,000
|
St. Charles County Francis Howell R-III School
Dist, MO, GO 2.00%, 03/01/2037
|
308,684
|
|
|
1,568,226
|
St. Charles County Industrial Dev Auth, MO,
Rev, (FNMA), (HUD) 4.65%, 04/01/2043
|
1,590,613
|
|
|
|
|
|
5,342,970
|
|
|
Nevada - 0.5%
|
||
|
|
Nevada Housing Division, NV, Rev,
|
|
|
|
460,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
04/01/2049
|
462,695
|
|
|
40,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
10/01/2049
|
40,239
|
|
|
950,000
|
Reno-Tahoe Airport Auth, NV, Rev 5.25%,
07/01/2054
|
985,011
|
|
|
|
|
|
1,487,945
|
|
|
New Jersey - 0.6%
|
||
|
1,705,000
|
New Jersey Housing & Mortgage Finance
Agency, NJ, Rev, (FNMA) 4.55%, 05/01/2041
|
1,753,919
|
|
|
|
New Mexico - 5.1%
|
||
|
|
New Mexico Mortgage Finance Auth, NM, Rev,
|
|
|
|
470,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
01/01/2051
|
462,476
|
|
|
1,205,000
|
(FHLMC), (FNMA), (GNMA) 3.00%,
01/01/2052
|
1,185,630
|
|
|
590,000
|
(FHLMC), (FNMA), (GNMA) 4.00%,
01/01/2050
|
592,852
|
|
|
1,535,000
|
(FHLMC), (FNMA), (GNMA) 4.25%,
03/01/2053
|
1,559,690
|
|
|
7,875,000
|
(FHLMC), (FNMA), (GNMA) 5.50%,
09/01/2055
|
8,499,952
|
|
|
2,975,000
|
New Mexico Municipal Energy Acquisition Auth,
NM, Rev 5.00%, 06/01/2054(1)
|
3,162,262
|
|
|
|
|
|
15,462,862
|
|
|
New York - 4.5%
|
||
|
1,130,000
|
City of New York, NY, GO 4.00%, 04/01/2050
|
1,033,802
|
|
|
|
New York City Municipal Water Finance Auth,
NY, Rev
|
|
|
|
1,500,000
|
4.00%, 06/15/2054
|
1,372,408
|
|
|
890,000
|
5.00%, 06/15/2046
|
953,640
|
|
|
|
New York State Dormitory Auth, NY, Rev
|
|
|
|
950,000
|
3.00%, 03/15/2038
|
862,206
|
|
|
5,000,000
|
4.00%, 05/01/2054
|
4,400,538
|
|
|
295,000
|
5.00%, 03/15/2047
|
310,423
|
|
|
2,630,000
|
New York State Housing Finance Agency, NY,
Rev, (FHLMC) 3.57%, 05/01/2042(1)
|
2,644,103
|
|
|
1,365,000
|
Triborough Bridge & Tunnel Auth Sales Tax, NY,
Rev 5.25%, 05/15/2064
|
1,414,546
|
|
|
605,000
|
Triborough Bridge & Tunnel Auth, NY, Rev
4.50%, 05/15/2052
|
594,110
|
|
|
|
|
|
13,585,776
|
|
|
37
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 77.7% - (continued)
|
|||
|
|
North Carolina - 0.6%
|
||
|
|
Raleigh Housing Auth, NC, Rev
|
|
|
|
$ 120,000
|
4.40%, 12/01/2043
|
$120,522
|
|
|
1,680,000
|
(FNMA) 4.50%, 02/01/2043
|
1,689,011
|
|
|
|
|
|
1,809,533
|
|
|
Ohio - 2.2%
|
||
|
880,000
|
Columbus-Franklin County Finance Auth, OH,
Rev, (FNMA) 4.82%, 11/01/2043
|
919,515
|
|
|
|
Ohio Housing Finance Agency, OH, Rev
|
|
|
|
2,600,000
|
3.15%, 01/01/2044(1)
|
2,598,356
|
|
|
585,000
|
(FHLMC), (FNMA), (GNMA) 3.25%,
03/01/2050
|
580,038
|
|
|
15,000
|
(FHLMC), (FNMA), (GNMA) 4.50%,
09/01/2048
|
15,123
|
|
|
410,000
|
(FNMA), (HUD) 4.55%, 04/01/2041
|
422,690
|
|
|
295,000
|
Ohio Turnpike & Infrastructure Commission, OH,
Rev 0.00%, 02/15/2041(3)
|
165,158
|
|
|
1,840,000
|
Pickerington Local School Dist, OH, GO 5.00%,
12/01/2053
|
1,878,700
|
|
|
|
|
|
6,579,580
|
|
|
Oklahoma - 0.2%
|
||
|
|
Oklahoma Capitol Improvement Auth, OK, Rev
|
|
|
|
85,000
|
5.00%, 07/01/2045
|
91,748
|
|
|
75,000
|
5.00%, 07/01/2046
|
80,182
|
|
|
260,000
|
5.00%, 07/01/2047
|
275,429
|
|
|
|
|
|
447,359
|
|
|
Oregon - 1.6%
|
||
|
5,000,000
|
Astoria Hospital Facs Auth, OR, Rev 5.25%,
08/01/2054
|
4,935,422
|
|
|
|
Pennsylvania - 1.4%
|
||
|
460,000
|
Allegheny County Airport Auth, PA, Rev, (AG)
5.25%, 01/01/2053
|
476,829
|
|
|
3,500,000
|
Philadelphia Gas Works Co., PA, Rev, (AG)
5.25%, 08/01/2054
|
3,673,036
|
|
|
|
|
|
4,149,865
|
|
|
Rhode Island - 0.5%
|
||
|
|
Rhode Island Health & Educational Building
Corp., RI, Rev,
|
|
|
|
875,000
|
(ST AID WITHHLDG) 4.13%, 05/15/2054
|
812,546
|
|
|
600,000
|
5.25%, 05/15/2054
|
600,024
|
|
|
|
|
|
1,412,570
|
|
|
South Carolina - 2.1%
|
||
|
3,135,000
|
Patriots Energy Group Financing Agency, SC,
Rev 5.25%, 10/01/2054(1)
|
3,361,239
|
|
|
1,435,000
|
South Carolina Jobs-Economic Dev Auth, SC,
Rev 5.25%, 11/01/2054
|
1,507,621
|
|
|
475,000
|
South Carolina Public Service Auth, SC, Rev,
(AG) 5.00%, 12/01/2055
|
485,386
|
|
|
870,000
|
South Carolina State Housing Finance & Dev
Auth, SC, Rev, (FNMA) 4.80%, 05/01/2043
|
906,530
|
|
|
45,000
|
Tobacco Settlement Management Auth, SC, Rev
6.38%, 05/15/2030
|
50,336
|
|
|
|
|
|
6,311,112
|
|
|
Tennessee - 2.9%
|
||
|
960,000
|
Chattanooga Health Educational & Housing
Facility Board, TN, Rev 5.25%, 12/01/2054
|
992,239
|
|
|
2,685,000
|
Cleveland Health & Educational Facs Board,
TN, Rev 5.25%, 08/15/2054
|
2,760,214
|
|
|
515,000
|
County of Putnam, TN, GO 2.00%, 04/01/2037
|
421,913
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 77.7% - (continued)
|
|||
|
|
Tennessee - 2.9% - (continued)
|
||
|
$ 425,000
|
Knox County Health Educational & Housing
Facility Board, TN, Rev, (FNMA) 4.63%,
12/01/2043
|
$437,261
|
|
|
|
Metropolitan Government Nashville & Davidson
County Health & Educational Facs Board,
TN, Rev,
|
|
|
|
1,805,000
|
(FNMA) 4.60%, 12/01/2044
|
1,824,850
|
|
|
10,000
|
(NPFG) 4.88%, 11/01/2028
|
10,295
|
|
|
305,000
|
Metropolitan Nashville Airport Auth, TN, Rev
5.00%, 07/01/2052
|
311,112
|
|
|
1,795,000
|
Tennergy Corp., TN, Rev 4.00%, 12/01/2051(1)
|
1,818,579
|
|
|
25,000
|
Tennessee Housing Dev Agency, TN, Rev
4.50%, 07/01/2049
|
25,211
|
|
|
|
|
|
8,601,674
|
|
|
Texas - 13.4%
|
||
|
|
Arlington Higher Education Finance Corp., TX,
Rev,
|
|
|
|
2,000,000
|
(PSF-GTD) 4.13%, 08/15/2054
|
1,776,930
|
|
|
700,000
|
(PSF-GTD) 4.25%, 12/01/2048
|
655,346
|
|
|
200,000
|
(PSF-GTD) 4.25%, 12/01/2053
|
183,034
|
|
|
680,000
|
(PSF-GTD) 5.00%, 08/15/2033
|
716,355
|
|
|
200,000
|
(PSF-GTD) 5.00%, 08/15/2048
|
206,710
|
|
|
|
Bexar County Hospital Dist, TX, GO
|
|
|
|
635,000
|
4.25%, 02/15/2052
|
585,460
|
|
|
1,405,000
|
4.25%, 02/15/2053
|
1,280,177
|
|
|
1,290,000
|
Chapel Hill Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2048
|
1,341,939
|
|
|
755,000
|
City of Dallas Housing Finance Corp., TX, Rev
4.63%, 10/01/2043
|
771,873
|
|
|
735,000
|
City of Houston Hotel Occupancy Tax & Special,
TX, Rev, (AG) 5.00%, 09/01/2046
|
780,542
|
|
|
790,000
|
Cleburne Independent School Dist, TX, GO,
(PSF-GTD) 3.00%, 02/15/2046
|
614,908
|
|
|
765,000
|
Clifton Higher Education Finance Corp., TX,
Rev, (PSF-GTD) 4.25%, 08/15/2053
|
698,417
|
|
|
765,000
|
College of the Mainland, TX, GO 4.00%,
08/15/2049
|
689,671
|
|
|
1,190,000
|
Columbia-Brazoria Independent School Dist,
TX, GO, (PSF-GTD) 4.00%, 02/01/2053
|
1,074,868
|
|
|
120,000
|
Community Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2053
|
123,522
|
|
|
|
Corsicana Independent School Dist, TX, GO,
|
|
|
|
495,000
|
(PSF-GTD) 5.00%, 02/15/2045
|
532,606
|
|
|
390,000
|
(PSF-GTD) 5.00%, 02/15/2046
|
415,743
|
|
|
2,000,000
|
County of Harris Toll Road, TX, Rev 5.25%,
08/15/2054
|
2,099,037
|
|
|
505,000
|
County of Harris, TX, GO 5.00%, 10/01/2038
|
516,474
|
|
|
4,635,000
|
Crowley Independent School Dist, TX, GO,
(PSF-GTD) 4.25%, 02/01/2054
|
4,363,452
|
|
|
375,000
|
Donna Independent School Dist, TX, GO,
(PSF-GTD) 4.13%, 02/15/2053
|
345,833
|
|
|
|
Georgetown Independent School Dist, TX, GO,
|
|
|
|
690,000
|
(PSF-GTD) 2.50%, 08/15/2037
|
597,887
|
|
|
970,000
|
(PSF-GTD) 5.00%, 02/15/2054
|
997,184
|
|
|
930,000
|
Kaufman Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2054
|
960,990
|
|
|
|
Lamar Consolidated Independent School Dist,
TX, GO,
|
|
|
|
365,000
|
(PSF-GTD) 3.00%, 02/15/2051
|
265,255
|
|
|
1,090,000
|
(PSF-GTD) 4.00%, 02/15/2048
|
989,292
|
|
|
590,000
|
Lockhart Independent School Dist, TX, GO,
(PSF-GTD) 4.13%, 08/01/2053
|
544,180
|
|
|
580,000
|
McGregor Independent School Dist, TX, GO,
(PSF-GTD) 5.00%, 02/15/2049
|
604,382
|
|
|
115,000
|
Montgomery Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2053
|
107,548
|
|
|
|
38
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
MUNICIPAL BONDS - 77.7% - (continued)
|
|||
|
|
Texas - 13.4% - (continued)
|
||
|
$ 20,000
|
Newark Higher Education Finance Corp., TX,
Rev, (PSF-GTD) 5.00%, 08/15/2052
|
$20,283
|
|
|
990,000
|
Northside Independent School Dist, TX, GO,
(PSF-GTD) 4.13%, 08/15/2053
|
920,222
|
|
|
575,000
|
Prosper Independent School Dist, TX, GO,
(PSF-GTD) 4.00%, 02/15/2053
|
525,082
|
|
|
|
Texas Department of Housing & Community
Affairs, TX, Rev,
|
|
|
|
460,000
|
(GNMA) 3.00%, 01/01/2052
|
452,238
|
|
|
205,000
|
(GNMA) 3.50%, 03/01/2051
|
203,846
|
|
|
65,000
|
(GNMA) 4.00%, 03/01/2050
|
65,575
|
|
|
30,000
|
(GNMA) 4.75%, 03/01/2049
|
30,251
|
|
|
3,720,000
|
(GNMA) 5.75%, 01/01/2056
|
4,079,598
|
|
|
6,120,000
|
Texas Municipal Gas Acquisition & Supply Corp.
V, TX, Rev 5.00%, 01/01/2055(1)
|
6,524,878
|
|
|
1,830,000
|
Texas Transportation Commission State
Highway 249 System, TX, Rev 5.25%,
10/01/2055
|
1,926,945
|
|
|
285,000
|
Texas Water Dev Board, TX, Rev 4.80%,
10/15/2052
|
287,502
|
|
|
440,000
|
White Settlement Independent School Dist, TX,
GO, (PSF-GTD) 4.13%, 08/15/2052
|
404,966
|
|
|
|
|
|
40,281,001
|
|
|
Utah - 1.9%
|
||
|
5,705,000
|
County of Iron Sales Tax, UT, Rev 5.00%,
10/01/2059
|
5,873,140
|
|
|
|
Virginia - 5.3%
|
||
|
|
FHLMC Multifamily VRD Certificates, VA, Rev
|
|
|
|
8,507,830
|
4.53%, 11/25/2042(1)
|
8,608,886
|
|
|
6,892,066
|
(FHLMC) 4.76%, 08/25/2041(1)
|
7,075,347
|
|
|
365,000
|
Hampton Roads Transportation Accountability
Commission, VA, Rev 4.00%, 07/01/2052
|
328,979
|
|
|
|
|
|
16,013,212
|
|
|
Washington - 0.0%
|
||
|
60,000
|
Washington State Housing Finance
Commission, WA, Rev 4.00%, 12/01/2048
|
60,218
|
|
|
|
Wisconsin - 0.6%
|
||
|
1,865,000
|
Public Finance Auth, WI, Rev, (FHLMC) 4.10%,
09/25/2039
|
1,833,647
|
|
|
|
Wyoming - 0.0%
|
||
|
30,000
|
Wyoming Community Dev Auth, WY, Rev 4.00%,
06/01/2043
|
30,091
|
|
|
|
Total Municipal Bonds
(cost $237,045,225)
|
|
$234,320,942
|
|
U.S. GOVERNMENT AGENCIES - 4.5%
|
|||
|
|
Mortgage-Backed Agencies - 4.5%
|
||
|
|
Federal Home Loan Mortgage Corp. - 4.5%
|
||
|
4,114,093
|
4.05%, 08/01/2040
|
$3,987,396
|
|
|
9,141,291
|
4.70%, 04/25/2042(1)
|
9,472,263
|
|
|
|
Total U.S. Government Agencies
(cost $13,311,318)
|
|
$13,459,659
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT SECURITIES - 9.7%
|
|||
|
|
U.S. Treasury Securities - 9.7%
|
||
|
|
U.S. Treasury Notes - 9.7%
|
||
|
$ 9,062,000
|
3.88%, 03/31/2031
|
$9,001,823
|
|
|
20,863,600
|
4.13%, 02/15/2036
|
20,423,508
|
|
|
|
Total U.S. Government Securities
(cost $29,550,882)
|
|
$29,425,331
|
|
|
Total Long-Term Investments
(cost $281,945,037)
|
|
$279,202,406
|
|
SHORT-TERM INVESTMENTS - 6.7%
|
|||
|
|
U.S. Treasury Securities - 6.7%
|
||
|
|
U.S. Treasury Bills - 6.7%
|
||
|
593,000
|
3.51%, 01/21/2027(4)
|
$577,530
|
|
|
20,038,000
|
3.61%, 10/15/2026(4)
|
19,704,054
|
|
|
|
Total Short-Term Investments
(cost $20,282,972)
|
$20,281,584
|
|
|
|
Total Investments
(cost $302,228,009)
|
99.3
%
|
$299,483,990
|
|
|
Other Assets and Liabilities
|
0.7
%
|
2,202,318
|
|
|
Net Assets
|
100.0
%
|
$301,686,308
|
|
(1)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain
variable rate securities are not based on a published reference rate and spread but
are determined by the issuer or agent and are based on current market conditions;
these securities do not indicate a reference rate and spread in the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(2)
|
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
$2,644,785 at April 30, 2026.
|
|
(3)
|
Security is a zero-coupon bond.
|
|
(4)
|
The rate shown represents current yield to maturity.
|
|
†
|
For information regarding the Fund’s significant accounting policies, please refer to
the Fund’s most recent Financial Statements and Other Information.
|
|
|
39
|
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Corporate Bonds
|
$1,996,474
|
$—
|
$1,996,474
|
$—
|
|
Municipal Bonds
|
234,320,942
|
—
|
234,320,942
|
—
|
|
U.S. Government Agencies
|
13,459,659
|
—
|
13,459,659
|
—
|
|
U.S. Government Securities
|
29,425,331
|
—
|
29,425,331
|
—
|
|
Short-Term Investments
|
20,281,584
|
—
|
20,281,584
|
—
|
|
Total
|
$299,483,990
|
$—
|
$299,483,990
|
$—
|
|
(1)
|
For the period ended April 30, 2026, there were no transfers in and out of Level 3.
|
|
|
40
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.6%
|
|||
|
|
Asset-Backed - Automobile - 6.2%
|
||
|
$ 4,775,000
|
Ally Auto Receivables Trust Series
2026-1, 3.92%, 10/15/2030
|
$4,743,970
|
|
|
529,926
|
Ally Bank Auto Credit-Linked Notes Series
2025-A, 6.94%, 06/15/2033(1)
|
528,861
|
|
|
|
AmeriCredit Automobile Receivables Trust
|
|
|
|
2,915,000
|
Series 2026-1, 4.28%, 11/18/2032(1)
|
2,900,907
|
|
|
1,130,000
|
Series 2023-1, 5.57%, 03/20/2028
|
1,134,988
|
|
|
359,495
|
Avid Automobile Receivables Trust 7.80%,
07/15/2032
|
359,820
|
|
|
|
Avis Budget Rental Car Funding
AESOP LLC
|
|
|
|
3,650,000
|
Series 2025-4A, 4.40%, 02/20/2032(1)
|
3,589,283
|
|
|
500,000
|
Series 2023-7A, 5.90%, 08/21/2028(1)
|
508,403
|
|
|
660,000
|
Series 2026-1A, 6.53%, 08/20/2030(1)
|
651,821
|
|
|
1,500,000
|
Series 2023-4A, 7.31%, 06/20/2029(1)
|
1,519,181
|
|
|
100,000
|
Series 2023-3A, 7.32%, 02/20/2028(1)
|
100,818
|
|
|
100,000
|
Series 2023-5A, 7.35%, 04/20/2028(1)
|
101,111
|
|
|
1,250,000
|
Series 2023-8A, 7.52%, 02/20/2030(1)
|
1,260,038
|
|
|
1,035,000
|
Series 2023-1A, 7.59%, 04/20/2029(1)
|
1,055,639
|
|
|
110,508
|
Bridgecrest Lending Auto Securitization
Trust Series 2024-4, 4.72%, 09/15/2028
|
110,610
|
|
|
|
Enterprise Fleet Financing LLC
|
|
|
|
3,368,154
|
Series 2025-1, 4.65%, 10/20/2027(1)
|
3,377,477
|
|
|
630,000
|
Series 2024-3, 5.06%, 03/20/2031(1)
|
638,049
|
|
|
566,578
|
Exeter Automobile Receivables Trust
Series 2025-1A, 4.67%, 08/15/2028
|
567,073
|
|
|
180,000
|
Exeter Select Automobile Receivables
Trust Series 2025-2, 6.87%,
02/15/2033(1)
|
177,409
|
|
|
|
Flagship Credit Auto Trust
|
|
|
|
1,925,000
|
Series 2024-1, 6.30%, 04/15/2030(1)
|
1,811,838
|
|
|
760,000
|
Series 2023-3, 6.58%, 08/15/2029(1)
|
719,621
|
|
|
500,000
|
Series 2023-2, 10.89%, 07/15/2030(1)
|
335,355
|
|
|
|
GM Financial Consumer Automobile
Receivables Trust
|
|
|
|
980,000
|
Series 2026-1, 3.77%, 03/16/2029
|
977,300
|
|
|
205,000
|
Series 2025-1, 4.73%, 08/16/2030
|
206,996
|
|
|
86,667
|
Hertz Vehicle Financing III LLC Series
2023-1A, 9.13%, 06/25/2027(1)
|
86,980
|
|
|
1,909,378
|
Huntington Bank Auto Credit-Linked Notes
Series 2026-1, 8.14%, 02/20/2034, 30
day USD SOFR Average + 4.50%(1)(2)
|
1,902,663
|
|
|
150,000
|
Prestige Auto Receivables Trust Series
2024-2A, 6.75%, 11/17/2031(1)
|
145,110
|
|
|
|
Santander Bank Auto Credit-Linked Notes
|
|
|
|
725,000
|
Series 2025-A, 7.34%, 01/16/2034(1)
|
722,513
|
|
|
430,741
|
Series 2024-A, 10.17%, 06/15/2032(1)
|
441,920
|
|
|
|
Santander Drive Auto Receivables Trust
|
|
|
|
1,000,000
|
Series 2025-4, 4.27%, 01/15/2032
|
996,322
|
|
|
3,420,672
|
Series 2025-4, 4.28%, 01/15/2029
|
3,423,633
|
|
|
38,950
|
Securitized Term Auto Receivables Trust
Series 2025-A, 6.75%, 07/25/2031(1)
|
39,670
|
|
|
424,895
|
SFS Auto Receivables Securitization Trust
Series 2024-2A, 5.33%, 11/20/2029(1)
|
428,504
|
|
|
2,460,000
|
Toyota Auto Receivables Owner Trust
Series 2026-A, 3.80%, 12/15/2028
|
2,456,653
|
|
|
|
Westlake Automobile Receivables Trust
|
|
|
|
1,240,000
|
Series 2026-P1, 4.01%, 03/17/2031(1)
|
1,224,496
|
|
|
4,000,000
|
Series 2026-1A, 4.20%, 05/15/2031(1)
|
3,983,036
|
|
|
1,401,760
|
Wheels Fleet Lease Funding 1 LLC Series
2024-3A, 4.80%, 09/19/2039(1)
|
1,410,067
|
|
|
3,285,000
|
World Omni Auto Receivables Trust Series
2026-A, 4.00%, 03/15/2032
|
3,255,297
|
|
|
|
|
|
47,893,432
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.6% -
(continued)
|
|||
|
|
Asset-Backed - Finance & Insurance - 1.9%
|
||
|
$ 2,000,000
|
Ares LXIII CLO Ltd. Series 2024-74A,
6.62%, 10/15/2036, 3 mo. USD Term
SOFR + 2.95%(1)(2)
|
$2,000,910
|
|
|
2,000,000
|
Carlyle U.S. CLO Ltd. Series 2019-2A,
6.77%, 10/15/2037, 3 mo. USD Term
SOFR + 3.10%(1)(2)
|
2,002,398
|
|
|
730,000
|
CBAMR Ltd. Series 2020-13A, 10.44%,
04/20/2039, 3 mo. USD Term SOFR +
6.77%(1)(2)
|
730,203
|
|
|
1,560,000
|
Elmwood CLO 48 Ltd. Series 2026-2A,
9.67%, 04/20/2039, 3 mo. USD Term
SOFR + 6.00%(1)(2)
|
1,561,072
|
|
|
2,275,000
|
GoldenTree Loan Management U.S. CLO
20 Ltd. Series 2024-20A, 6.83%,
07/20/2037, 3 mo. USD Term SOFR +
3.15%(1)(2)
|
2,278,972
|
|
|
1,150,000
|
Golub Capital Partners CLO 72 B Ltd.
Series 2024-72A, 6.90%, 04/25/2039,
3 mo. USD Term SOFR + 3.25%(1)(2)
|
1,150,240
|
|
|
1,406,065
|
GreenSky Home Improvement Issuer
Trust Series 2024-2, 8.75%,
10/27/2059(1)
|
1,450,123
|
|
|
500,000
|
Hilton Grand Vacations Trust Series
2026-1A, 7.21%, 02/25/2043(1)
|
499,921
|
|
|
1,880,000
|
Kubota Credit Owner Trust Series
2026-1A, 3.87%, 05/15/2030(1)
|
1,861,836
|
|
|
750,000
|
Palmer Square Loan Funding Ltd. Series
2026-1A, 8.65%, 07/15/2034, 3 mo.
USD Term SOFR + 5.00%(1)(2)
|
750,157
|
|
|
140,000
|
VB-S1 Issuer LLC Series 2026-1A, 6.84%,
03/15/2056(1)
|
140,502
|
|
|
|
|
|
14,426,334
|
|
|
Asset-Backed - Home Equity - 0.1%
|
||
|
|
Point Securitization Trust
|
|
|
|
200,000
|
Series 2026-1, 6.50%, 02/25/2056(1)(3)
|
196,096
|
|
|
250,000
|
Series 2025-2, 7.00%, 10/25/2055(1)(3)
|
247,541
|
|
|
|
|
|
443,637
|
|
|
Commercial Mortgage-Backed Securities - 4.6%
|
||
|
2,800,000
|
245 Park Avenue Trust Series 2017-245P,
3.78%, 06/05/2037(1)(2)
|
2,721,162
|
|
|
130,000
|
280 Park Avenue Mortgage Trust Series
2017-280P, 6.08%, 09/15/2034, 1 mo.
USD Term SOFR + 2.42%(1)(2)
|
128,375
|
|
|
95,000
|
ALA Trust Series 2025-OANA, 6.75%,
06/15/2040, 1 mo. USD Term SOFR +
3.09%(1)(2)
|
95,211
|
|
|
605,000
|
ARZ Trust Series 2024-BILT, 8.27%,
06/11/2039(1)
|
619,781
|
|
|
640,000
|
BAMLL Commercial Mortgage Securities
Trust Series 2019-BPR, 3.84%,
11/05/2032(1)(2)
|
597,385
|
|
|
|
BPR Trust
|
|
|
|
30,000
|
Series 2024-PMDW, 5.85%,
11/05/2041(1)(2)
|
28,920
|
|
|
370,000
|
Series 2023-BRK2, 8.63%,
10/05/2038(1)(2)
|
385,254
|
|
|
2,000,000
|
BX Commercial Mortgage Trust Series
2026-LP3, 6.85%, 04/15/2043, 1 mo.
USD Term SOFR + 3.20%(1)(2)
|
2,005,625
|
|
|
555,000
|
BX Trust Series 2025-DELC, 7.60%,
12/15/2042, 1 mo. USD Term SOFR +
3.95%(1)(2)
|
554,013
|
|
|
75,000
|
Citigroup Commercial Mortgage Trust
Series 2016-C3, 3.00%, 11/15/2049(1)
|
59,312
|
|
|
|
41
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.6% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 4.6% - (continued)
|
||
|
|
Commercial Mortgage Trust
|
|
|
|
$ 1,327,000
|
Series 2015-LC19, 4.57%,
02/10/2048(1)(2)
|
$1,220,813
|
|
|
314,000
|
Series 2024-CBM, 8.19%,
12/10/2041(1)(2)
|
314,230
|
|
|
|
CSAIL Commercial Mortgage Trust
|
|
|
|
835,000
|
Series 2016-C5, 3.55%,
11/15/2048(1)(2)
|
784,900
|
|
|
48,777
|
Series 2015-C3, 4.34%, 08/15/2048(2)
|
47,131
|
|
|
|
DC Trust
|
|
|
|
200,000
|
Series 2024-HLTN, 8.78%,
04/13/2040(1)(2)
|
197,321
|
|
|
85,000
|
Series 2024-HLTN, 10.66%,
04/13/2040(1)(2)
|
84,009
|
|
|
|
Extended Stay America Trust
|
|
|
|
2,820,838
|
Series 2026-ESH2, 6.55%, 02/15/2043,
1 mo. USD Term SOFR + 2.90%(1)(2)
|
2,831,416
|
|
|
606,480
|
Series 2026-ESH2, 7.40%, 02/15/2043,
1 mo. USD Term SOFR + 3.75%(1)(2)
|
609,510
|
|
|
717,534
|
Series 2025-ESH, 7.75%, 10/15/2042,
1 mo. USD Term SOFR + 4.10%(1)(2)
|
721,122
|
|
|
215,000
|
GS Mortgage Securities Corp. II Series
2024-70P, 7.53%, 03/10/2041(1)(2)
|
216,780
|
|
|
89,891
|
GS Mortgage Securities Corp. Trust
Series 2012-BWTR, 2.95%,
11/05/2034(1)
|
78,841
|
|
|
|
GS Mortgage Securities Trust
|
|
|
|
550,260
|
Series 2016-GS2, 2.75%, 05/10/2049(1)
|
473,798
|
|
|
52,661
|
Series 2015-GC28, 4.57%,
02/10/2048(1)(2)
|
50,420
|
|
|
96,115
|
HIH Trust Series 2024-61P, 7.84%,
10/15/2041, 1 mo. USD Term SOFR +
4.19%(1)(2)
|
96,295
|
|
|
|
HTL Commercial Mortgage Trust
|
|
|
|
255,000
|
Series 2024-T53, 8.47%,
05/10/2039(1)(2)
|
258,477
|
|
|
745,000
|
Series 2024-T53, 10.60%,
05/10/2039(1)(2)
|
756,124
|
|
|
100,000
|
Series 2024-T53, 12.32%,
05/10/2039(1)(2)
|
102,165
|
|
|
800,000
|
JP Morgan Chase Commercial Mortgage
Securities Trust Series 2012-LC9,
3.69%, 12/15/2047(1)(2)
|
754,000
|
|
|
|
JPMBB Commercial Mortgage Securities
Trust
|
|
|
|
205,000
|
Series 2015-C28, 3.93%,
10/15/2048(1)(2)
|
188,707
|
|
|
240,000
|
Series 2014-C24, 4.12%, 11/15/2047(2)
|
224,626
|
|
|
275,000
|
Series 2014-C23, 4.17%,
09/15/2047(1)(2)
|
250,115
|
|
|
1,535,000
|
Series 2014-C22, 4.66%, 09/15/2047(2)
|
1,450,575
|
|
|
465,000
|
JPMDB Commercial Mortgage Securities
Trust Series 2016-C2, 3.99%,
06/15/2049(2)
|
417,217
|
|
|
2,000,000
|
LBTY Commercial Mortgage Trust Series
2026-225L, 6.80%, 02/10/2043(1)(2)
|
1,975,594
|
|
|
270,000
|
LEX Trust Series 2026-450, 6.00%,
03/15/2043, 1 mo. USD Term SOFR +
2.35%(1)(2)
|
269,998
|
|
|
|
Morgan Stanley Bank of America Merrill
Lynch Trust
|
|
|
|
800,000
|
Series 2013-C9, 3.92%,
05/15/2046(1)(2)
|
724,513
|
|
|
267,000
|
Series 2017-C34, 4.31%, 11/15/2052(2)
|
238,310
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.6% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 4.6% - (continued)
|
||
|
$ 125,000
|
Morgan Stanley Capital I Trust Series
2014-150E, 3.91%, 09/09/2032(1)
|
$117,545
|
|
|
270,000
|
NYC Commercial Mortgage Trust Series
2025-3BP, 7.19%, 02/15/2042, 1 mo.
USD Term SOFR + 3.54%(1)(2)
|
269,905
|
|
|
2,690,000
|
ROCK Trust Series 2024-CNTR, 8.82%,
11/13/2041(1)
|
2,814,951
|
|
|
3,550,000
|
SLG Office Trust Series 2026-OMA,
6.96%, 04/15/2041(1)(2)
|
3,567,962
|
|
|
140,000
|
TEXAS Commercial Mortgage Trust
Series 2025-TWR, 6.75%, 04/15/2042,
1 mo. USD Term SOFR + 3.09%(1)(2)
|
139,831
|
|
|
|
Wells Fargo Commercial Mortgage Trust
|
|
|
|
625,000
|
Series 2016-LC24, 4.53%,
10/15/2049(2)
|
586,393
|
|
|
2,120,000
|
Series 2016-NXS5, 4.98%,
01/15/2059(2)
|
1,897,400
|
|
|
195,000
|
Willowbrook Mall Series 2025-WBRK,
6.28%, 03/05/2035(1)(2)
|
184,862
|
|
|
325,000
|
Worldwide Plaza Trust Series 2017-WWP,
3.53%, 11/10/2036(1)
|
261,625
|
|
|
|
X-Caliber Funding LLC
|
|
|
|
560,000
|
Series 2025-VFN1, 6.64%, 06/17/2030,
1 mo. USD Term SOFR + 2.97%(1)(2)
|
559,407
|
|
|
1,900,000
|
Series 2026-HPL, 6.81%, 02/15/2046,
1 mo. USD Term SOFR + 3.15%(1)(2)
|
1,887,865
|
|
|
100,000
|
Series 2024-MSD, 8.25%, 01/15/2028,
1 mo. USD Term SOFR + 4.25%(1)(2)
|
100,407
|
|
|
|
|
|
34,920,198
|
|
|
Other Asset-Backed Securities - 3.6%
|
||
|
850,000
|
Affirm Asset Securitization Trust Series
2024-B, 7.35%, 09/15/2029(1)
|
850,834
|
|
|
150,000
|
AGL CLO 16 Ltd. Series 2021-16A,
8.33%, 01/20/2035, 3 mo. USD Term
SOFR + 4.65%(1)(2)
|
124,217
|
|
|
100,000
|
AMSR Trust Series 2025-SFR1, 3.66%,
06/17/2042(1)
|
88,447
|
|
|
305,000
|
Apidos CLO LIII Ltd. Series 2025-53A,
10.11%, 07/20/2038, 3 mo. USD Term
SOFR + 6.43%(1)(2)
|
307,974
|
|
|
|
Avtech Equipment Receivables
Funding LLC
|
|
|
|
750,000
|
Series 2026-1A, 5.67%, 02/15/2033(1)
|
744,243
|
|
|
1,035,000
|
Series 2026-1A, 7.71%, 02/15/2033(1)
|
1,027,259
|
|
|
1,515,000
|
Bain Capital Credit CLO Ltd. Series
2022-5A, 10.02%, 01/24/2037, 3 mo.
USD Term SOFR + 6.35%(1)(2)
|
1,408,018
|
|
|
345,000
|
Ballyrock CLO 29 Ltd. Series 2025-29A,
3.65%, 07/25/2038(1)(2)
|
217,111
|
|
|
305,000
|
Battalion CLO XV Ltd. Series 2020-15A,
6.93%, 01/17/2033, 3 mo. USD Term
SOFR + 3.25%(1)(2)
|
297,049
|
|
|
430,000
|
Carlyle Global Market Strategies CLO Ltd.
Series 2016-1A, 9.93%, 04/20/2034,
3 mo. USD Term SOFR + 6.25%(1)(2)
|
407,832
|
|
|
525,000
|
Carlyle U.S. CLO Ltd. Series 2017-2A,
11.24%, 07/20/2037, 3 mo. USD Term
SOFR + 7.56%(1)(2)
|
509,495
|
|
|
140,057
|
ECAF I Ltd. Series 2015-1A, 4.95%,
06/15/2040(1)
|
130,953
|
|
|
1,300,000
|
Elmwood CLO 20 Ltd. Series 2022-7A,
8.38%, 01/20/2039, 3 mo. USD Term
SOFR + 4.75%(1)(2)
|
1,292,581
|
|
|
|
42
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.6% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 3.6% - (continued)
|
||
|
$ 450,000
|
Galaxy XXII CLO Ltd. Series 2016-22A,
8.93%, 04/16/2034, 3 mo. USD Term
SOFR + 5.25%(1)(2)
|
$436,057
|
|
|
20,296
|
HINNT LLC Series 2024-A, 8.00%,
03/15/2043(1)
|
19,875
|
|
|
|
Home Re Ltd.
|
|
|
|
2,245,000
|
Series 2026-1, 6.25%, 01/25/2036, 30
day USD SOFR Average +
2.60%(1)(2)
|
2,258,666
|
|
|
950,000
|
Series 2026-1, 6.85%, 01/25/2036, 30
day USD SOFR Average +
3.20%(1)(2)
|
958,713
|
|
|
100,530
|
Series 2022-1, 9.15%, 10/25/2034, 30
day USD SOFR Average +
5.50%(1)(2)
|
103,090
|
|
|
126,443
|
Horizon Aircraft Finance III Ltd. Series
2019-2, 4.46%, 11/15/2039(1)
|
124,078
|
|
|
1,500,000
|
Invesco CLO Ltd. Series 2021-2A, 6.83%,
07/15/2034, 3 mo. USD Term SOFR +
3.16%(1)(2)
|
1,452,361
|
|
|
1,792,000
|
Kubota Credit Owner Trust Series
2024-2A, 5.19%, 05/15/2030(1)
|
1,821,005
|
|
|
1,500,000
|
Madison Park Funding XXIX Ltd. Series
2018-29A, 6.58%, 03/25/2038, 3 mo.
USD Term SOFR + 2.90%(1)(2)
|
1,459,996
|
|
|
265,000
|
Magnetite LII Ltd. Series 2025-52A,
3.65%, 01/25/2039(1)(2)
|
208,889
|
|
|
2,738,500
|
MMAF Equipment Finance LLC Series
2023-A, 5.54%, 12/13/2029(1)
|
2,772,329
|
|
|
750,000
|
Neuberger Berman Loan Advisers CLO 27
Ltd. Series 2018-27A, 6.77%,
07/15/2038, 3 mo. USD Term SOFR +
3.10%(1)(2)
|
752,234
|
|
|
250,000
|
OCP CLO Ltd. Series 2024-33A, 8.08%,
07/20/2037, 3 mo. USD Term SOFR +
4.40%(1)(2)
|
250,189
|
|
|
2,100,000
|
OneMain Financial Issuance Trust Series
2019-2A, 3.14%, 10/14/2036(1)
|
2,059,401
|
|
|
|
Palmer Square CLO Ltd.
|
|
|
|
1,500,000
|
Series 2025-1A, 6.13%, 04/20/2038,
3 mo. USD Term SOFR + 2.45%(1)(2)
|
1,504,002
|
|
|
1,505,000
|
Series 2026-1A, 8.07%, 04/20/2039,
3 mo. USD Term SOFR + 4.40%(1)(2)
|
1,511,989
|
|
|
270,000
|
Series 2018-1A, 10.62%, 04/18/2037,
3 mo. USD Term SOFR + 6.94%(1)(2)
|
248,993
|
|
|
135,000
|
PEAC Solutions Receivables LLC Series
2025-1A, 5.04%, 07/20/2032(1)
|
136,443
|
|
|
510,000
|
Rad CLO 12 Ltd. Series 2021-12A,
10.31%, 07/30/2040, 3 mo. USD Term
SOFR + 6.65%(1)(2)
|
489,807
|
|
|
505,000
|
Southwick Park CLO LLC Series 2019-4A,
9.93%, 07/20/2032, 3 mo. USD Term
SOFR + 6.25%(1)(2)
|
467,720
|
|
|
1,295,000
|
Trimaran CAVU Ltd. Series 2023-2A,
9.08%, 01/20/2039, 3 mo. USD Term
SOFR + 5.40%(1)(2)
|
1,292,397
|
|
|
25,000
|
VB-S1 Issuer LLC Series 2024-1A, 8.87%,
05/15/2054(1)
|
25,612
|
|
|
290,000
|
Whetstone Park CLO Ltd. Series 2021-1A,
10.09%, 01/20/2035, 3 mo. USD Term
SOFR + 6.41%(1)(2)
|
253,142
|
|
|
|
|
|
28,013,001
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.6% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 5.2%
|
||
|
|
Angel Oak Mortgage Trust
|
|
|
|
$ 50,000
|
Series 2021-3, 2.48%, 05/25/2066(1)(2)
|
$38,482
|
|
|
135,000
|
Series 2022-2, 4.08%, 01/25/2067(1)(2)
|
112,727
|
|
|
1,460,000
|
CHNGE Mortgage Trust Series
2022-NQM1, 5.82%, 06/25/2067(1)(3)
|
1,455,328
|
|
|
1,530,000
|
CSMC Trust Series 2020-NQM1, 4.46%,
05/25/2065(1)(2)
|
1,429,416
|
|
|
1,562,000
|
Deephaven Residential Mortgage Trust
Series 2026-INV2, 6.71%,
02/25/2071(1)(2)
|
1,519,121
|
|
|
1,085,000
|
Ellington Financial Mortgage Trust Series
2026-RM1, 4.75%, 01/25/2056(1)(2)
|
932,410
|
|
|
|
Federal National Mortgage Association
Connecticut Avenue Securities Trust
|
|
|
|
15,000
|
Series 2023-R06, 7.55%, 07/25/2043,
30 day USD SOFR Average +
3.90%(1)(2)
|
15,698
|
|
|
800,000
|
Series 2021-R03, 9.15%, 12/25/2041,
30 day USD SOFR Average +
5.50%(1)(2)
|
819,449
|
|
|
2,080,000
|
Series 2021-R01, 9.65%, 10/25/2041,
30 day USD SOFR Average +
6.00%(1)(2)
|
2,122,737
|
|
|
1,330,000
|
Series 2022-R01, 9.65%, 12/25/2041,
30 day USD SOFR Average +
6.00%(1)(2)
|
1,367,094
|
|
|
560,000
|
Series 2021-R02, 9.85%, 11/25/2041,
30 day USD SOFR Average +
6.20%(1)(2)
|
574,046
|
|
|
1,639,000
|
Series 2022-R05, 10.65%, 04/25/2042,
30 day USD SOFR Average +
7.00%(1)(2)
|
1,726,080
|
|
|
3,670,414
|
Series 2019-HRP1, 13.01%,
11/25/2039, 30 day USD SOFR
Average + 9.36%(1)(2)
|
3,817,923
|
|
|
1,100,000
|
Series 2022-R04, 13.15%, 03/25/2042,
30 day USD SOFR Average +
9.50%(1)(2)
|
1,174,635
|
|
|
1,000,000
|
Series 2022-R03, 13.50%, 03/25/2042,
30 day USD SOFR Average +
9.85%(1)(2)
|
1,070,940
|
|
|
575,000
|
Series 2022-R06, 14.25%, 05/25/2042,
30 day USD SOFR Average +
10.60%(1)(2)
|
627,469
|
|
|
1,181,834
|
Series 2022-R07, 15.65%, 06/25/2042,
30 day USD SOFR Average +
12.00%(1)(2)
|
1,317,742
|
|
|
490,000
|
GCAT Trust Series 2026-NQM2, 6.61%,
02/25/2071(1)(2)
|
477,286
|
|
|
|
Imperial Fund Mortgage Trust
|
|
|
|
650,000
|
Series 2022-NQM1, 4.08%,
02/25/2067(1)(2)
|
508,012
|
|
|
390,000
|
Series 2021-NQM4, 4.10%,
01/25/2057(1)(2)
|
312,675
|
|
|
1,150,000
|
Series 2022-NQM3, 4.41%,
05/25/2067(1)(2)
|
959,097
|
|
|
|
Pretium Mortgage Credit Partners LLC
|
|
|
|
912,000
|
Series 2025-RPL6, 3.85%,
09/25/2069(1)(3)
|
810,747
|
|
|
2,373,000
|
Series 2026-RPL1, 4.15%,
01/25/2070(1)(3)
|
2,152,997
|
|
|
770,000
|
Series 2026-NPL3, 6.22%,
02/25/2056(1)(3)
|
761,737
|
|
|
433,317
|
Series 2026-NPL1, 6.54%,
01/25/2056(1)(3)
|
431,195
|
|
|
|
43
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 21.6% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 5.2% - (continued)
|
||
|
$ 1,370,000
|
Series 2026-NPL2, 6.54%,
02/25/2056(1)(3)
|
$1,365,280
|
|
|
550,000
|
Series 2025-NPL14, 6.78%,
12/25/2055(1)(3)
|
543,226
|
|
|
327,000
|
Series 2025-NPL13, 6.78%,
12/25/2055(1)(3)
|
324,495
|
|
|
390,000
|
Series 2025-NPL12, 6.90%,
11/25/2055(1)(3)
|
387,952
|
|
|
150,000
|
Series 2025-NPL11, 7.02%,
10/25/2055(1)(3)
|
148,903
|
|
|
450,000
|
Series 2026-NPL5, 7.05%,
04/25/2056(1)(3)
|
449,995
|
|
|
320,000
|
Series 2025-NPL10, 7.26%,
10/25/2055(1)(3)
|
318,356
|
|
|
240,000
|
Series 2025-NPL9, 7.51%,
08/25/2055(1)(3)
|
239,897
|
|
|
155,000
|
Series 2025-NPL8, 7.99%,
08/25/2055(1)(3)
|
155,039
|
|
|
165,000
|
Series 2025-NPL7, 8.35%,
07/25/2055(1)(3)
|
164,920
|
|
|
145,000
|
Series 2025-NPL5, 8.72%,
05/25/2055(1)(3)
|
145,922
|
|
|
2,565,000
|
PRKCM Trust Series 2026-AFC3, 5.38%,
05/01/2061(1)(2)
|
2,564,915
|
|
|
|
PRPM LLC
|
|
|
|
255,000
|
Series 2025-RPL4, 3.00%,
05/25/2055(1)(3)
|
230,513
|
|
|
1,418,000
|
Series 2026-2, 6.47%, 02/25/2031(1)(3)
|
1,413,813
|
|
|
1,100,000
|
Series 2025-8, 7.20%, 10/25/2030(1)(3)
|
1,096,873
|
|
|
100,000
|
Series 2025-7, 7.45%, 08/25/2030(1)(3)
|
99,959
|
|
|
145,000
|
Series 2025-1, 8.47%, 04/25/2030(1)(3)
|
144,335
|
|
|
100,000
|
Series 2024-6, 8.60%, 11/25/2029(1)(3)
|
100,088
|
|
|
100,000
|
Series 2024-7, 8.84%, 11/25/2029(1)(3)
|
99,446
|
|
|
605,000
|
Series 2025-2, 9.56%, 05/25/2030(1)(3)
|
602,175
|
|
|
430,000
|
RCO IX Mortgage LLC Series 2025-2,
9.13%, 04/25/2030(1)(3)
|
427,499
|
|
|
100,000
|
RCO VIII Mortgage LLC Series 2025-3,
8.84%, 05/25/2030(1)(3)
|
99,519
|
|
|
310,000
|
SG Residential Mortgage Trust Series
2022-1, 3.96%, 03/27/2062(1)(2)
|
221,036
|
|
|
1,555,000
|
Spruce Hill Mortgage Loan Trust Series
2020-SH1, 3.83%, 01/28/2050(1)(2)
|
1,504,963
|
|
|
135,000
|
Verus Securitization Trust Series 2021-5,
3.04%, 09/25/2066(1)(2)
|
98,396
|
|
|
461,843
|
VOLT CII LLC Series 2021-NP11, 8.21%,
08/25/2051(1)(3)
|
461,897
|
|
|
300,933
|
VOLT CVI LLC Series 2021-NP12, 9.44%,
12/26/2051(1)(3)
|
301,323
|
|
|
|
|
|
40,245,778
|
|
|
Total Asset-Backed & Commercial
Mortgage-Backed Securities
(cost $167,159,281)
|
$165,942,380
|
|
|
CONVERTIBLE BONDS - 6.8%
|
|||
|
|
Auto Manufacturers - 0.1%
|
||
|
|
Rivian Automotive, Inc.
|
|
|
|
705,000
|
3.63%, 10/15/2030
|
$729,393
|
|
|
64,000
|
4.63%, 03/15/2029
|
73,120
|
|
|
|
|
|
802,513
|
|
|
Biotechnology - 0.5%
|
||
|
370,000
|
BioMarin Pharmaceutical, Inc. 1.25%,
05/15/2027
|
358,160
|
|
|
|
Bridgebio Pharma, Inc.
|
|
|
|
559,000
|
0.75%, 02/01/2033(1)
|
554,752
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CONVERTIBLE BONDS - 6.8% - (continued)
|
|||
|
|
Biotechnology - 0.5% - (continued)
|
||
|
$ 195,000
|
1.75%, 03/01/2031
|
$321,391
|
|
|
|
Cytokinetics, Inc.
|
|
|
|
450,000
|
1.75%, 10/01/2031(1)
|
574,313
|
|
|
210,000
|
3.50%, 07/01/2027
|
301,350
|
|
|
279,000
|
Immunocore Holdings PLC 2.50%,
02/01/2030
|
248,310
|
|
|
|
Ionis Pharmaceuticals, Inc.
|
|
|
|
885,000
|
0.00%, 12/01/2030(1)(4)
|
917,634
|
|
|
412,000
|
1.75%, 06/15/2028
|
611,820
|
|
|
|
|
|
3,887,730
|
|
|
Commercial Banks - 0.1%
|
||
|
EUR
1,200,000
|
Mitsubishi UFJ Investor Services &
Banking Luxembourg SA 6.53%,
12/15/2050, 3 mo. EURIBOR +
4.50%(2)
|
946,104
|
|
|
|
Commercial Services - 0.0%
|
||
|
$ 30,000
|
Block, Inc. 0.25%, 11/01/2027
|
28,170
|
|
|
283,000
|
Global Payments, Inc. 1.50%, 03/01/2031
|
253,993
|
|
|
|
|
|
282,163
|
|
|
Diversified Financial Services - 0.1%
|
||
|
|
Coinbase Global, Inc.
|
|
|
|
1,063,000
|
0.00%, 10/01/2032(1)(4)
|
896,109
|
|
|
169,000
|
0.25%, 04/01/2030
|
164,015
|
|
|
|
|
|
1,060,124
|
|
|
Electric - 0.6%
|
||
|
250,000
|
Ormat Technologies, Inc. 1.50%,
03/15/2031(1)
|
264,575
|
|
|
1,110,000
|
PG&E Corp. 4.25%, 12/01/2027
|
1,137,195
|
|
|
755,000
|
PPL Capital Funding, Inc. 3.00%,
12/01/2030(1)
|
781,070
|
|
|
1,296,000
|
Southern Co. 3.25%, 06/15/2028(1)
|
1,317,384
|
|
|
1,117,000
|
WEC Energy Group, Inc. 4.38%,
06/01/2029
|
1,393,458
|
|
|
|
|
|
4,893,682
|
|
|
Energy-Alternate Sources - 0.1%
|
||
|
1,029,000
|
Enphase Energy, Inc. 0.00%,
03/01/2028(4)
|
937,728
|
|
|
30,000
|
Stem, Inc. 0.50%, 12/01/2028(1)
|
11,784
|
|
|
|
|
|
949,512
|
|
|
Healthcare - Products - 0.5%
|
||
|
|
Guardant Health, Inc.
|
|
|
|
250,000
|
0.00%, 05/15/2033(1)(4)
|
261,094
|
|
|
155,000
|
1.25%, 02/15/2031
|
251,115
|
|
|
685,000
|
Integer Holdings Corp. 1.88%, 03/15/2030
|
662,737
|
|
|
964,000
|
Lantheus Holdings, Inc. 2.63%,
12/15/2027
|
1,226,208
|
|
|
1,059,000
|
Merit Medical Systems, Inc. 3.00%,
02/01/2029
|
1,127,909
|
|
|
200,000
|
Qiagen NV 2.50%, 09/10/2031(5)
|
196,050
|
|
|
160,000
|
Tempus AI, Inc. 0.75%, 07/15/2030(1)
|
166,880
|
|
|
|
|
|
3,891,993
|
|
|
Home Builders - 0.2%
|
||
|
1,518,000
|
Meritage Homes Corp. 1.75%, 05/15/2028
|
1,488,399
|
|
|
|
Insurance - 0.1%
|
||
|
HKD
4,000,000
|
China Pacific Insurance Group Co. Ltd.
0.00%, 09/18/2030(4)(5)
|
533,333
|
|
|
|
Internet - 0.3%
|
||
|
|
Alibaba Group Holding Ltd.
|
|
|
|
$ 815,000
|
0.00%, 09/15/2032(4)(5)
|
812,555
|
|
|
135,000
|
0.50%, 06/01/2031
|
194,872
|
|
|
|
44
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CONVERTIBLE BONDS - 6.8% - (continued)
|
|||
|
|
Internet - 0.3% - (continued)
|
||
|
$ 811,000
|
DoorDash, Inc. 0.00%, 05/15/2030(1)(4)
|
$773,694
|
|
|
610,000
|
Uber Technologies, Inc. 0.88%,
12/01/2028
|
745,725
|
|
|
|
|
|
2,526,846
|
|
|
Investment Company Security - 0.4%
|
||
|
823,000
|
HAT Holdings I LLC/HAT Holdings II LLC
3.75%, 08/15/2028(1)
|
1,308,981
|
|
|
|
IREN Ltd.
|
|
|
|
90,000
|
0.00%, 07/01/2031(1)(4)
|
77,850
|
|
|
645,000
|
1.00%, 06/01/2033(1)
|
711,435
|
|
|
512,000
|
Terawulf, Inc. 0.00%, 05/01/2032(1)(4)
|
698,778
|
|
|
|
|
|
2,797,044
|
|
|
IT Services - 0.3%
|
||
|
55,000
|
Lumentum Holdings, Inc. 0.38%,
03/15/2032(1)
|
269,275
|
|
|
1,385,000
|
Parsons Corp. 2.63%, 03/01/2029
|
1,360,070
|
|
|
49,000
|
Seagate HDD Cayman 3.50%, 06/01/2028
|
399,080
|
|
|
|
Super Micro Computer, Inc.
|
|
|
|
387,000
|
0.00%, 06/15/2030(1)(4)
|
314,399
|
|
|
78,000
|
3.50%, 03/01/2029
|
67,794
|
|
|
|
|
|
2,410,618
|
|
|
Leisure Time - 0.3%
|
||
|
|
NCL Corp. Ltd.
|
|
|
|
989,000
|
0.75%, 09/15/2030(1)
|
924,391
|
|
|
1,201,000
|
0.88%, 04/15/2030
|
1,262,551
|
|
|
|
|
|
2,186,942
|
|
|
Lodging - 0.4%
|
||
|
2,807,000
|
Wynn Macau Ltd. 4.50%, 03/07/2029(1)
|
2,801,386
|
|
|
|
Machinery - Construction & Mining - 0.1%
|
||
|
535,000
|
Bloom Energy Corp. 0.00%,
11/15/2030(1)(4)
|
931,275
|
|
|
|
Media - 0.0%
|
||
|
70,000
|
EchoStar Corp. 3.88%, 11/30/2030(6)
|
262,631
|
|
|
|
Miscellaneous Manufacturing - 0.1%
|
||
|
905,000
|
JBT Marel Corp. 0.38%, 09/15/2030(1)
|
850,700
|
|
|
|
Oil & Gas Services - 0.2%
|
||
|
500,000
|
Liberty Energy, Inc. 0.00%,
03/01/2032(1)(4)
|
562,750
|
|
|
600,000
|
Solaris Energy Infrastructure, Inc. 0.25%,
10/01/2031
|
916,500
|
|
|
|
|
|
1,479,250
|
|
|
Pharmaceuticals - 0.2%
|
||
|
200,000
|
Jazz Investments I Ltd. 3.13%, 09/15/2030
|
298,800
|
|
|
852,000
|
Zoetis, Inc. 0.25%, 06/15/2029(1)
|
842,202
|
|
|
|
|
|
1,141,002
|
|
|
Pipelines - 0.0%
|
||
|
225,000
|
Golar LNG Ltd. 2.75%, 12/15/2030(1)
|
271,463
|
|
|
|
Real Estate - 0.1%
|
||
|
383,000
|
Compass, Inc. 0.25%, 04/15/2031(1)
|
336,274
|
|
|
|
Real Estate Investment Trusts - 0.6%
|
||
|
1,895,000
|
Boston Properties LP 2.00%,
10/01/2030(1)
|
1,771,825
|
|
|
1,400,000
|
Federal Realty OP LP 3.25%,
01/15/2029(1)
|
1,458,800
|
|
|
239,000
|
Realty Income Corp. 3.50%, 01/15/2029(1)
|
249,157
|
|
|
|
Rexford Industrial Realty LP
|
|
|
|
868,000
|
4.13%, 03/15/2029(1)
|
861,056
|
|
|
188,000
|
4.38%, 03/15/2027(1)
|
187,342
|
|
|
|
|
|
4,528,180
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CONVERTIBLE BONDS - 6.8% - (continued)
|
|||
|
|
Semiconductors - 0.4%
|
||
|
$ 990,000
|
ON Semiconductor Corp. 0.50%,
03/01/2029
|
$1,205,820
|
|
|
1,259,000
|
Semtech Corp. 0.00%, 10/15/2030(1)(4)
|
1,680,765
|
|
|
|
|
|
2,886,585
|
|
|
Software - 1.0%
|
||
|
1,092,000
|
Cloudflare, Inc. 0.00%, 06/15/2030(1)(4)
|
1,254,158
|
|
|
348,000
|
CoreWeave, Inc. 1.75%, 10/01/2032(1)
|
417,426
|
|
|
1,665,000
|
Datadog, Inc. 0.00%, 12/01/2029(4)
|
1,674,157
|
|
|
997,000
|
Guidewire Software, Inc. 1.25%,
11/01/2029
|
980,176
|
|
|
174,000
|
Nebius Group NV 2.63%, 03/15/2033(1)
|
192,148
|
|
|
1,345,000
|
Nutanix, Inc. 0.50%, 12/15/2029
|
1,245,201
|
|
|
743,000
|
Snowflake, Inc. 0.00%, 10/01/2029(4)
|
870,647
|
|
|
748,000
|
Unity Software, Inc. 0.00%, 03/15/2030(4)
|
816,255
|
|
|
|
|
|
7,450,168
|
|
|
Telecommunications - 0.1%
|
||
|
522,000
|
AST SpaceMobile, Inc. 2.00%,
01/15/2036(1)
|
530,352
|
|
|
|
Total Convertible Bonds
(cost $50,201,143)
|
$52,126,269
|
|
|
CORPORATE BONDS - 32.6%
|
|||
|
|
Aerospace & Defense - 0.0%
|
||
|
20,000
|
Goat Holdco LLC 6.75%, 02/01/2032(1)
|
$20,495
|
|
|
|
Agriculture - 0.2%
|
||
|
53,000
|
BAT Capital Corp. 5.63%, 08/15/2035
|
54,657
|
|
|
|
MHP Lux SA
|
|
|
|
1,290,000
|
6.25%, 09/19/2029(5)
|
1,162,437
|
|
|
430,000
|
10.50%, 07/28/2029(1)
|
440,362
|
|
|
|
|
|
1,657,456
|
|
|
Airlines - 0.1%
|
||
|
25,000
|
OneSky Flight LLC 8.88%, 12/15/2029(1)
|
26,403
|
|
|
360,000
|
VistaJet Malta Finance PLC/Vista
Management Holding, Inc. 9.50%,
06/01/2028(1)(7)
|
363,916
|
|
|
|
|
|
390,319
|
|
|
Apparel - 0.1%
|
||
|
210,809
|
Beach Acquisition Bidco LLC 10.00%,
07/15/2033(1)(6)
|
231,892
|
|
|
619,000
|
Champ Acquisition Corp. 8.38%,
12/01/2031(1)
|
652,103
|
|
|
|
|
|
883,995
|
|
|
Auto Manufacturers - 0.1%
|
||
|
25,000
|
Ford Motor Co. 3.25%, 02/12/2032
|
21,937
|
|
|
491,000
|
General Motors Financial Co., Inc. 5.70%,
09/30/2030, (5.70% fixed rate until
09/30/2030; 5 yr. USD CMT + 5.00%
thereafter)(2)(8)
|
482,459
|
|
|
|
|
|
504,396
|
|
|
Auto Parts & Equipment - 0.1%
|
||
|
172,000
|
Clarios Global LP/Clarios U.S. Finance
Co. 6.75%, 09/15/2032(1)
|
175,946
|
|
|
EUR
500,000
|
ZF Europe Finance BV 7.00%,
06/12/2030(5)
|
613,014
|
|
|
|
|
|
788,960
|
|
|
Beverages - 0.0%
|
||
|
$ 205,000
|
Central American Bottling Corp./CBC
Bottling Holdco SL/Beliv Holdco SL
5.25%, 04/27/2029(5)
|
202,665
|
|
|
|
45
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Biotechnology - 0.3%
|
||
|
$ 1,580,000
|
Biocon Biologics Global PLC 6.67%,
10/09/2029(5)
|
$1,588,087
|
|
|
400,000
|
Genmab AS/Genmab Finance LLC 6.25%,
12/15/2032(1)
|
410,500
|
|
|
|
|
|
1,998,587
|
|
|
Chemicals - 1.6%
|
||
|
2,036,000
|
Dangote Fertiliser Ltd. 7.75%,
05/05/2031(5)
|
2,058,905
|
|
|
|
GC Treasury Center Co. Ltd.
|
|
|
|
695,000
|
6.50%, 09/10/2030, (6.50% fixed rate
until 09/10/2030; 5 yr. USD CMT +
2.82% thereafter)(2)(5)(8)
|
684,915
|
|
|
200,000
|
6.50%, 09/10/2030, (6.50% fixed rate
until 09/10/2030; 5 yr. USD CMT +
2.82% thereafter)(1)(2)(8)
|
197,098
|
|
|
400,000
|
7.13%, 03/10/2035, (7.13% fixed rate
until 03/10/2035; 5 yr. USD CMT +
3.16% thereafter)(1)(2)(8)
|
395,932
|
|
|
810,000
|
Hanwha Totalenergies Petrochemical Co.
Ltd. 5.50%, 07/18/2029(5)
|
780,272
|
|
|
|
OCP SA
|
|
|
|
950,000
|
6.70%, 03/01/2036(5)
|
990,463
|
|
|
1,018,000
|
6.74%, 04/22/2031, (6.74% fixed rate
until 04/22/2031; 5 yr. USD CMT +
2.75% thereafter)(1)(2)(8)
|
1,013,587
|
|
|
1,513,000
|
7.37%, 04/22/2036, (7.37% fixed rate
until 04/22/2036; 5 yr. USD CMT +
3.22% thereafter)(1)(2)(8)
|
1,503,561
|
|
|
|
Tronox, Inc.
|
|
|
|
5,458,000
|
4.63%, 03/15/2029(1)(7)
|
4,567,610
|
|
|
370,000
|
9.13%, 09/30/2030(1)(7)
|
375,992
|
|
|
|
|
|
12,568,335
|
|
|
Commercial Banks - 4.3%
|
||
|
|
Abanca Corp. Bancaria SA
|
|
|
|
EUR
200,000
|
4.63%, 12/11/2036, (4.63% fixed rate
until 12/11/2031; 5 yr. EURIBOR ICE
Swap + 2.45% thereafter)(2)(5)
|
237,605
|
|
|
400,000
|
6.13%, 09/19/2031, (6.13% fixed rate
until 09/19/2031; 5 yr. EURIBOR ICE
Swap + 3.89% thereafter)(2)(5)(8)
|
472,801
|
|
|
|
AIB Group PLC
|
|
|
|
$ 850,000
|
5.32%, 05/15/2031, (5.32% fixed rate
until 05/15/2030; 6 mo. USD SOFR +
1.65% thereafter)(1)(2)
|
866,518
|
|
|
EUR
225,000
|
6.00%, 07/14/2031, (6.00% fixed rate
until 07/14/2031; 5 yr. EURIBOR ICE
Swap + 3.71% thereafter)(2)(5)(8)
|
268,341
|
|
|
700,000
|
AL Sydbank 3.63%, 03/05/2030, (3.63%
fixed rate until 03/05/2029; 3 mo.
EURIBOR + 1.45% thereafter)(2)
|
822,079
|
|
|
GBP
500,000
|
Aldermore Group PLC 6.00%, 10/01/2035,
(6.00% fixed rate until 10/01/2030; 5 yr.
U.K. Government Bond + 2.02%
thereafter)(2)(5)
|
665,691
|
|
|
EUR
575,000
|
Alpha Bank SA 11.88%, 02/08/2028,
(11.88% fixed rate until 02/08/2028; 5
yr. EUR Swap + 9.31%
thereafter)(2)(5)(8)
|
753,027
|
|
|
200,000
|
Argenta Spaarbank NV 3.75%,
02/02/2034, (3.75% fixed rate until
02/02/2033; 1 yr. EURIBOR ICE Swap
+1.08% thereafter)(2)(5)
|
230,607
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Commercial Banks - 4.3% - (continued)
|
||
|
EUR
1,700,000
|
Banca Transilvania SA 7.13%,
11/27/2030, (7.13% fixed rate until
11/27/2030; 5 yr. EURIBOR ICE Swap
+ 4.78% thereafter)(2)(5)(7)(8)
|
$2,039,585
|
|
|
$ 600,000
|
Banco Bilbao Vizcaya Argentaria SA
7.13%, 12/31/2099, 5 yr. USD CMT +
2.99%(2)
|
600,000
|
|
|
|
Banco Santander SA
|
|
|
|
800,000
|
4.55%, 11/06/2030
|
789,189
|
|
|
EUR
400,000
|
7.00%, 11/20/2029, (7.00% fixed rate
until 11/20/2029; 5 yr. EUR Swap +
4.43% thereafter)(2)(5)(8)
|
497,762
|
|
|
400,000
|
Bank of Cyprus Holdings PLC 11.88%,
06/21/2028, (11.88% fixed rate until
06/21/2028; 5 yr. EURIBOR ICE Swap
+ 9.13% thereafter)(2)(5)(8)
|
533,623
|
|
|
300,000
|
Bank of Ireland Group PLC 6.38%,
03/10/2030, (6.38% fixed rate until
03/10/2030; 5 yr. EURIBOR ICE Swap
+ 4.03% thereafter)(2)(5)(8)
|
363,180
|
|
|
|
Bank of New York Mellon Corp.
|
|
|
|
$ 50,000
|
3.99%, 06/13/2028, (3.99% fixed rate
until 06/13/2027; 6 mo. USD SOFR +
1.15% thereafter)(2)
|
49,866
|
|
|
40,000
|
6.32%, 10/25/2029, (6.32% fixed rate
until 10/25/2028; 6 mo. USD SOFR +
1.60% thereafter)(2)
|
41,789
|
|
|
EUR
400,000
|
BAWAG Group AG 7.25%, 09/18/2029,
(7.25% fixed rate until 09/18/2029; 5 yr.
EURIBOR ICE Swap + 5.05%
thereafter)(2)(5)(8)
|
494,305
|
|
|
|
BBVA Mexico SA Institucion De Banca
Multiple Grupo Financiero BBVA
Mexico
|
|
|
|
$ 618,000
|
8.13%, 01/08/2039, (8.13% fixed rate
until 01/08/2034; 5 yr. USD CMT +
4.21% thereafter)(2)(5)
|
669,150
|
|
|
200,000
|
8.45%, 06/29/2038, (8.45% fixed rate
until 06/29/2033; 5 yr. USD CMT +
4.66% thereafter)(2)(5)
|
220,206
|
|
|
915,000
|
BNP Paribas SA 7.20%, 04/17/2036,
(7.20% fixed rate until 04/17/2036; 5 yr.
USD CMT + 2.94% thereafter)(1)(2)(8)
|
920,367
|
|
|
1,000,000
|
BPCE SA 7.00%, 10/19/2034, (7.00%
fixed rate until 10/19/2033; 6 mo. USD
SOFR + 2.59% thereafter)(1)(2)
|
1,092,667
|
|
|
EUR
400,000
|
BPER Banca SpA 5.88%, 03/19/2031,
(5.88% fixed rate until 03/19/2031; 5 yr.
EURIBOR ICE Swap + 3.57%
thereafter)(2)(5)(8)
|
468,657
|
|
|
$ 200,000
|
CaixaBank SA 4.82%, 04/22/2032, (4.82%
fixed rate until 04/22/2031; 6 mo. USD
SOFR + 1.21% thereafter)(1)(2)
|
198,703
|
|
|
EUR
200,000
|
CCF Holding SAS 9.25%, 06/12/2029,
(9.25% fixed rate until 06/12/2029; 5 yr.
EUR Swap + 6.63% thereafter)(2)(5)(8)
|
257,235
|
|
|
|
Citigroup, Inc.
|
|
|
|
$ 484,000
|
6.63%, 02/15/2031, (6.63% fixed rate
until 02/15/2031; 5 yr. USD CMT +
3.00% thereafter)(2)(8)
|
489,932
|
|
|
237,000
|
7.63%, 11/15/2028, (7.63% fixed rate
until 11/15/2028; 5 yr. USD CMT +
3.21% thereafter)(2)(8)
|
246,461
|
|
|
|
46
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Commercial Banks - 4.3% - (continued)
|
||
|
EUR
300,000
|
CrediaBank SA 9.38%, 01/31/2031,
(9.38% fixed rate until 01/31/2031; 5 yr.
EURIBOR ICE Swap + 7.28%
thereafter)(2)(5)(8)
|
$372,373
|
|
|
400,000
|
Eurobank SA 6.25%, 11/10/2033, (6.25%
fixed rate until 11/10/2033; 5 yr.
EURIBOR ICE Swap + 3.79%
thereafter)(2)(5)(8)
|
464,528
|
|
|
|
Goldman Sachs Group, Inc.
|
|
|
|
$ 93,000
|
3.65%, 08/10/2026, (3.65% fixed rate
until 08/10/2026; 5 yr. USD CMT +
2.92% thereafter)(2)(8)
|
92,708
|
|
|
163,000
|
7.50%, 02/10/2029, (7.50% fixed rate
until 02/10/2029; 5 yr. USD CMT +
3.16% thereafter)(2)(8)
|
171,351
|
|
|
|
Golomt Bank
|
|
|
|
580,000
|
11.00%, 05/20/2027(5)
|
600,293
|
|
|
400,000
|
11.00%, 05/20/2027(1)
|
413,994
|
|
|
|
HSBC Holdings PLC
|
|
|
|
484,000
|
4.60%, 12/17/2030, (4.60% fixed rate
until 12/17/2030; 5 yr. USD CMT +
3.65% thereafter)(2)(8)
|
451,422
|
|
|
725,000
|
4.62%, 11/06/2031, (4.62% fixed rate
until 11/06/2030; 6 mo. USD SOFR +
1.19% thereafter)(2)
|
718,226
|
|
|
760,000
|
5.28%, 03/10/2037, (5.28% fixed rate
until 03/10/2036; 6 mo. USD SOFR +
1.55% thereafter)(2)
|
749,565
|
|
|
1,000,000
|
6.75%, 03/24/2031, (6.75% fixed rate
until 03/24/2031; 5 yr. USD CMT +
2.91% thereafter)(2)(8)
|
1,012,856
|
|
|
EUR
800,000
|
Ibercaja Banco SA 9.13%, 01/25/2028,
(9.13% fixed rate until 01/25/2028; 5 yr.
EUR Swap + 6.83% thereafter)(2)(5)(8)
|
1,008,353
|
|
|
|
Intesa Sanpaolo SpA
|
|
|
|
$ 425,000
|
4.20%, 06/01/2032, (4.20% fixed rate
until 06/01/2031; 1 yr. USD CMT +
2.60% thereafter)(1)(2)
|
401,856
|
|
|
EUR
200,000
|
6.38%, 05/26/2033, (6.38% fixed rate
until 05/26/2033; 5 yr. EURIBOR ICE
Swap + 4.04% thereafter)(2)(5)(8)
|
242,235
|
|
|
$ 625,000
|
8.25%, 11/21/2033, (8.25% fixed rate
until 11/21/2032; 1 yr. USD CMT +
4.40% thereafter)(1)(2)
|
725,541
|
|
|
|
JP Morgan Chase & Co.
|
|
|
|
16,000
|
4.51%, 10/22/2028, (4.51% fixed rate
until 10/22/2027; 6 mo. USD SOFR +
0.86% thereafter)(2)
|
16,018
|
|
|
48,000
|
5.53%, 11/29/2045, (5.53% fixed rate
until 11/29/2044; 6 mo. USD SOFR +
1.55% thereafter)(2)
|
47,295
|
|
|
10,000
|
5.58%, 07/23/2036, (5.58% fixed rate
until 07/23/2035; 6 mo. USD SOFR +
1.64% thereafter)(2)
|
10,145
|
|
|
EUR
500,000
|
Jyske Bank AS 3.50%, 11/19/2031,
(3.50% fixed rate until 11/19/2030; 1 yr.
EURIBOR ICE Swap + 1.27%
thereafter)(2)(5)
|
582,490
|
|
|
$ 200,000
|
Lloyds Banking Group PLC 6.75%,
09/27/2031, (6.75% fixed rate until
09/27/2031; 5 yr. USD CMT + 3.15%
thereafter)(2)(7)(8)
|
205,756
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Commercial Banks - 4.3% - (continued)
|
||
|
|
Metro Bank Holdings PLC
|
|
|
|
GBP
500,000
|
12.00%, 04/30/2029, (12.00% fixed rate
until 04/30/2028; 1 yr. U.K.
Government Bond + 7.81%
thereafter)(2)(5)
|
$760,063
|
|
|
1,050,000
|
13.88%, 03/26/2030, (13.88% fixed rate
until 03/26/2030; 5 yr. U.K.
Government Bond + 9.57%
thereafter)(2)(5)(8)
|
1,647,791
|
|
|
EUR
2,200,000
|
Nova Ljubljanska Banka DD 6.50%,
11/26/2030, (6.50% fixed rate until
11/26/2030; 5 yr. EURIBOR ICE Swap
+ 4.08% thereafter)(2)(5)(8)
|
2,590,815
|
|
|
300,000
|
Nykredit Bank AS 4.13%, 10/01/2030,
(4.13% fixed rate until 10/01/2029; 1 yr.
EURIBOR ICE Swap + 1.85%
thereafter)(2)(5)
|
356,836
|
|
|
200,000
|
Piraeus Bank SA 6.75%, 12/30/2030,
(6.75% fixed rate until 12/30/2030; 5 yr.
EURIBOR ICE Swap + 4.60%
thereafter)(2)(5)(7)(8)
|
242,223
|
|
|
200,000
|
Societe Generale SA 6.13%, 03/17/2032,
(6.13% fixed rate until 03/17/2032; 5 yr.
EURIBOR ICE Swap + 3.78%
thereafter)(2)(5)(8)
|
237,532
|
|
|
$ 2,656,000
|
Trade & Development Bank of
Mongolia LLC 8.50%, 12/23/2027(5)
|
2,653,848
|
|
|
|
UBS Group AG
|
|
|
|
650,000
|
7.00%, 02/05/2035, (7.00% fixed rate
until 02/05/2035; 5 yr. USD ICE
Swap + 3.30% thereafter)(2)(5)(8)
|
661,477
|
|
|
400,000
|
9.25%, 11/13/2033, (9.25% fixed rate
until 11/13/2033; 5 yr. USD CMT +
4.76% thereafter)(1)(2)(8)
|
466,816
|
|
|
|
Unicaja Banco SA
|
|
|
|
EUR
100,000
|
0.25%, 09/25/2029(5)
|
106,761
|
|
|
200,000
|
4.88%, 11/18/2026, (4.88% fixed rate
until 11/18/2026; 5 yr. EUR Swap +
5.02% thereafter)(2)(5)(8)
|
235,365
|
|
|
|
|
|
32,535,878
|
|
|
Commercial Services - 0.5%
|
||
|
$ 350,000
|
Avis Budget Car Rental LLC/Avis Budget
Finance, Inc. 8.38%, 06/15/2032(1)(7)
|
351,879
|
|
|
|
BCP V Modular Services Finance II PLC
|
|
|
|
EUR
250,000
|
4.75%, 11/30/2028(5)
|
277,275
|
|
|
GBP
350,000
|
6.13%, 11/30/2028(5)
|
448,177
|
|
|
$ 59,000
|
Block, Inc. 3.50%, 06/01/2031
|
53,579
|
|
|
468,000
|
Deluxe Corp. 8.13%, 09/15/2029(1)
|
488,045
|
|
|
13,000
|
Massachusetts Institute of Technology
5.60%, 07/01/2111
|
12,579
|
|
|
EUR
1,155,000
|
Verisure Midholding AB 5.25%,
02/15/2029(5)
|
1,356,389
|
|
|
|
Worldline SA
|
|
|
|
300,000
|
5.25%, 11/27/2029(5)
|
312,110
|
|
|
700,000
|
5.50%, 06/10/2030(5)(7)
|
721,127
|
|
|
|
|
|
4,021,160
|
|
|
Construction Materials - 0.3%
|
||
|
|
Cemex SAB de CV
|
|
|
|
$ 1,234,000
|
7.20%, 06/10/2030, (7.20% fixed rate
until 06/10/2030; 5 yr. USD CMT +
3.52% thereafter)(1)(2)(8)
|
1,277,819
|
|
|
685,000
|
7.20%, 06/10/2030, (7.20% fixed rate
until 06/10/2030; 5 yr. USD CMT +
3.52% thereafter)(2)(5)(8)
|
709,324
|
|
|
|
47
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Construction Materials - 0.3% - (continued)
|
||
|
|
CP Atlas Buyer, Inc.
|
|
|
|
$ 272,000
|
9.75%, 07/15/2030(1)
|
$252,874
|
|
|
294,549
|
12.75%, 01/15/2031(1)(6)
|
217,990
|
|
|
70,000
|
JH North America Holdings, Inc. 5.88%,
01/31/2031(1)
|
69,968
|
|
|
|
|
|
2,527,975
|
|
|
Diversified Financial Services - 3.9%
|
||
|
57,000
|
Aircastle Ltd. 5.25%, 06/15/2026, (5.25%
fixed rate until 06/15/2026; 5 yr. USD
CMT + 4.41% thereafter)(1)(2)(8)
|
56,900
|
|
|
3,045,000
|
Bread Financial Holdings, Inc. 8.38%,
06/15/2035, (8.38% fixed rate until
06/15/2030; 5 yr. USD CMT + 4.30%
thereafter)(1)(2)
|
3,193,115
|
|
|
30,000
|
Credit Acceptance Corp. 9.25%,
12/15/2028(1)
|
31,284
|
|
|
|
CrossCountry Intermediate HoldCo LLC
|
|
|
|
2,203,000
|
6.50%, 10/01/2030(1)
|
2,164,350
|
|
|
3,945,000
|
6.75%, 12/01/2032(1)
|
3,813,149
|
|
|
664,000
|
EZCORP, Inc. 7.38%, 04/01/2032(1)
|
701,954
|
|
|
|
Freedom Mortgage Holdings LLC
|
|
|
|
281,000
|
6.88%, 05/01/2031(1)
|
271,049
|
|
|
1,970,000
|
8.38%, 04/01/2032(1)
|
1,997,294
|
|
|
638,000
|
9.13%, 05/15/2031(1)
|
660,817
|
|
|
|
goeasy Ltd.
|
|
|
|
2,155,000
|
6.88%, 02/15/2031(1)(7)
|
1,790,165
|
|
|
124,000
|
7.38%, 10/01/2030(1)(7)
|
105,509
|
|
|
3,437,000
|
LFS Topco LLC 8.75%, 07/15/2030(1)(7)
|
3,321,080
|
|
|
|
Muangthai Capital PCL
|
|
|
|
1,280,000
|
7.55%, 07/21/2030(1)
|
1,298,446
|
|
|
795,000
|
7.55%, 07/21/2030(5)
|
806,521
|
|
|
|
Muthoot Finance Ltd.
|
|
|
|
1,120,000
|
6.38%, 03/02/2030(1)
|
1,128,243
|
|
|
260,000
|
6.38%, 03/02/2030(5)
|
261,863
|
|
|
270,000
|
7.13%, 02/14/2028(5)
|
274,101
|
|
|
92,000
|
PennyMac Financial Services, Inc. 6.88%,
02/15/2033(1)
|
90,468
|
|
|
2,197,000
|
Planet Financial Group LLC 10.50%,
12/15/2029(1)
|
2,135,295
|
|
|
3,262,000
|
Stonebriar ABF Issuer LLC 8.13%,
12/15/2030(1)
|
3,426,539
|
|
|
317,000
|
Sumisho Air Lease Corp. 4.13%,
12/15/2026, (4.13% fixed rate until
12/15/2026; 5 yr. USD CMT + 3.15%
thereafter)(2)(8)
|
312,803
|
|
|
2,295,000
|
Velocity Commercial Capital LLC 9.38%,
02/15/2031(1)
|
2,373,152
|
|
|
|
|
|
30,214,097
|
|
|
Electric - 3.0%
|
||
|
865,000
|
Adani Electricity Mumbai Ltd. 3.95%,
02/12/2030(5)
|
814,353
|
|
|
1,100,000
|
ADM Elektrik Dagitim AS 9.50%,
02/05/2031(1)(7)
|
1,079,987
|
|
|
424,747
|
AES Panama Generation Holdings SRL
4.38%, 05/31/2030(5)
|
399,262
|
|
|
15,000
|
American Electric Power Co., Inc. 5.80%,
03/15/2056, (5.80% fixed rate until
12/15/2030; 5 yr. USD CMT + 2.13%
thereafter)(2)
|
14,916
|
|
|
867,422
|
Buffalo Energy Mexico Holdings/Buffalo
Energy Infrastructure/Buffalo Energy
7.88%, 02/15/2039(5)
|
929,631
|
|
|
|
Bulgarian Energy Holding EAD
|
|
|
|
EUR
1,534,000
|
2.45%, 07/22/2028(5)
|
1,736,878
|
|
|
220,000
|
4.25%, 06/19/2030(5)
|
254,527
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Electric - 3.0% - (continued)
|
||
|
$ 125,000
|
CMS Energy Corp. 4.75%, 06/01/2050,
(4.75% fixed rate until 03/01/2030; 5 yr.
USD CMT + 4.12% thereafter)(2)
|
$122,243
|
|
|
241,000
|
Dominion Energy, Inc. 4.35%, 01/15/2027,
(4.35% fixed rate until 01/15/2027; 5 yr.
USD CMT + 3.20% thereafter)(2)(8)
|
238,931
|
|
|
|
Eastern European Electric Co. BV
|
|
|
|
EUR
1,530,000
|
6.50%, 05/15/2030(5)
|
1,852,324
|
|
|
948,000
|
6.50%, 05/15/2030(1)
|
1,147,714
|
|
|
|
Edison International
|
|
|
|
$ 1,281,000
|
7.88%, 06/15/2054, (7.88% fixed rate
until 03/15/2029; 5 yr. USD CMT +
3.66% thereafter)(2)
|
1,321,403
|
|
|
1,418,000
|
8.13%, 06/15/2053, (8.13% fixed rate
until 03/15/2028; 5 yr. USD CMT +
3.86% thereafter)(2)
|
1,454,773
|
|
|
442,000
|
Emera, Inc. 6.75%, 06/15/2076, (6.75%
fixed rate until 06/15/2026; 3 mo. USD
Term SOFR + 5.44% thereafter)
|
442,266
|
|
|
EUR
625,000
|
Energo - Pro as 8.00%, 05/27/2030(5)
|
765,419
|
|
|
|
Energo-Pro AS
|
|
|
|
1,480,000
|
6.45%, 04/15/2031(5)
|
1,713,171
|
|
|
1,240,000
|
8.00%, 05/27/2030(1)
|
1,518,590
|
|
|
$ 588,000
|
EUSHI Finance, Inc. 7.63%, 12/15/2054,
(7.63% fixed rate until 09/15/2029; 5 yr.
USD CMT + 3.14% thereafter)(2)(7)
|
608,757
|
|
|
|
GDZ Elektrik Dagitim AS
|
|
|
|
2,265,000
|
9.00%, 10/15/2029(5)
|
2,193,140
|
|
|
1,476,000
|
9.00%, 10/15/2029(1)
|
1,428,773
|
|
|
1,505,000
|
Limak Yenilenebilir Enerji AS 9.63%,
08/12/2030(1)
|
1,504,020
|
|
|
359,000
|
Sempra 6.38%, 04/01/2056, (6.38% fixed
rate until 01/01/2031; 5 yr. USD CMT +
2.63% thereafter)(2)
|
363,097
|
|
|
|
Southern California Edison Co.
|
|
|
|
55,000
|
5.25%, 03/15/2030
|
55,877
|
|
|
25,000
|
6.20%, 09/15/2055
|
24,491
|
|
|
735,000
|
Termocandelaria Power SA 7.75%,
09/17/2031(5)
|
755,727
|
|
|
171,000
|
VoltaGrid LLC 7.38%, 11/01/2030(1)
|
177,485
|
|
|
375,000
|
Zorlu Enerji Elektrik Uretim AS 11.00%,
04/23/2030(1)
|
331,538
|
|
|
|
|
|
23,249,293
|
|
|
Energy-Alternate Sources - 0.3%
|
||
|
|
FS Luxembourg SARL
|
|
|
|
800,000
|
8.13%, 02/11/2036(1)
|
741,000
|
|
|
970,000
|
8.63%, 06/25/2033(5)
|
950,535
|
|
|
280,000
|
8.63%, 06/25/2033(1)
|
274,386
|
|
|
|
|
|
1,965,921
|
|
|
Entertainment - 0.6%
|
||
|
|
888 Acquisitions Ltd.
|
|
|
|
EUR
800,000
|
7.70%, 07/15/2028, 3 mo. EURIBOR +
5.5%(2)(5)(7)
|
921,823
|
|
|
1,279,000
|
8.00%, 09/30/2031(5)(7)
|
1,447,818
|
|
|
$ 274,000
|
Great Canadian Gaming Corp./Raptor LLC
8.75%, 11/15/2029(1)
|
267,153
|
|
|
1,870,000
|
Motion Finco SARL 8.38%, 02/15/2032(1)
|
1,531,714
|
|
|
|
|
|
4,168,508
|
|
|
Food - 0.6%
|
||
|
|
Bellis Acquisition Co. PLC
|
|
|
|
EUR
2,510,000
|
8.00%, 07/01/2031(5)(7)
|
2,806,822
|
|
|
655,000
|
8.00%, 07/01/2031(1)(7)
|
732,458
|
|
|
GBP
500,000
|
8.13%, 05/14/2030(5)
|
628,263
|
|
|
$ 412,000
|
Industrial F&B Investments III, Inc. 7.75%,
02/11/2033(1)
|
416,329
|
|
|
|
48
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Food - 0.6% - (continued)
|
||
|
$ 20,000
|
JBS NV/JBS USA Foods Group Holdings,
Inc./JBS USA Food Co. Holdings
6.38%, 04/15/2066
|
$19,256
|
|
|
70,000
|
Mars, Inc. 5.00%, 03/01/2032(1)
|
71,012
|
|
|
EUR
100,000
|
Picard Groupe SAS 6.38%, 07/01/2029(1)
|
120,954
|
|
|
|
|
|
4,795,094
|
|
|
Gas - 0.1%
|
||
|
$ 588,000
|
AltaGas Ltd. 7.20%, 10/15/2054, (7.20%
fixed rate until 07/17/2034; 5 yr. USD
CMT + 3.57% thereafter)(1)(2)
|
610,895
|
|
|
|
Hand/Machine Tools - 0.0%
|
||
|
EUR
200,000
|
IMA Industria Macchine Automatiche SpA
3.75%, 01/15/2028(5)
|
233,004
|
|
|
|
Healthcare - Products - 0.0%
|
||
|
$ 150,000
|
Insulet Corp. 6.50%, 04/01/2033(1)
|
153,120
|
|
|
|
Healthcare - Services - 0.7%
|
||
|
15,000
|
Acadia Healthcare Co., Inc. 7.38%,
03/15/2033(1)(7)
|
15,343
|
|
|
|
CHS/Community Health Systems, Inc.
|
|
|
|
605,000
|
4.75%, 02/15/2031(1)
|
566,090
|
|
|
3,672,000
|
6.88%, 04/15/2029(1)
|
3,612,687
|
|
|
830,000
|
9.75%, 01/15/2034(1)
|
856,071
|
|
|
564,000
|
Star Parent, Inc. 9.00%, 10/01/2030(1)
|
590,820
|
|
|
|
|
|
5,641,011
|
|
|
Insurance - 1.4%
|
||
|
|
Acrisure LLC/Acrisure Finance, Inc.
|
|
|
|
755,000
|
8.25%, 02/01/2029(1)
|
757,647
|
|
|
2,095,000
|
8.50%, 06/15/2029(1)
|
2,096,261
|
|
|
490,000
|
Alliant Holdings Intermediate LLC/Alliant
Holdings Co-Issuer 7.00%,
01/15/2031(1)
|
500,091
|
|
|
400,000
|
Allianz SE 6.50%, 10/30/2034, (6.50%
fixed rate until 10/30/2034; 5 yr. USD
CMT + 2.33% thereafter)(1)(2)(8)
|
400,271
|
|
|
175,000
|
American National Group, Inc. 7.00%,
12/01/2055, (7.00% fixed rate until
12/01/2030; 5 yr. USD CMT + 3.18%
thereafter)(2)
|
171,015
|
|
|
|
Asurion LLC/Asurion Co-Issuer, Inc.
|
|
|
|
432,000
|
8.00%, 12/31/2032(1)
|
451,263
|
|
|
2,075,000
|
8.38%, 02/01/2034(1)
|
2,047,211
|
|
|
|
Athene Global Funding
|
|
|
|
47,000
|
4.95%, 01/07/2027(1)
|
47,163
|
|
|
35,000
|
5.35%, 07/09/2027(1)
|
35,182
|
|
|
EUR
200,000
|
BNP Paribas Cardif SA 6.00%,
11/07/2035, (6.00% fixed rate until
11/07/2035; 5 yr. EURIBOR ICE Swap
+ 3.37% thereafter)(2)(5)(8)
|
232,799
|
|
|
$ 525,000
|
HUB International Ltd. 7.38%,
01/31/2032(1)
|
537,795
|
|
|
130,000
|
Liberty Mutual Group, Inc. 4.30%,
02/01/2061(1)
|
82,546
|
|
|
704,000
|
Lincoln National Corp. 9.25%, 12/01/2027,
(9.25% fixed rate until 12/01/2027; 5 yr.
USD CMT + 5.32% thereafter)(2)(7)(8)
|
744,675
|
|
|
EUR
200,000
|
Mutuelle Epargne Retraite Prevoyance
Carac 4.38%, 02/05/2046, (4.38% fixed
rate until 08/05/2035; 3 mo. EURIBOR
+ 2.60% thereafter)(2)(5)
|
229,550
|
|
|
|
Prudential Financial, Inc.
|
|
|
|
$ 272,000
|
3.70%, 10/01/2050, (3.70% fixed rate
until 07/01/2030; 5 yr. USD CMT +
3.04% thereafter)(2)
|
250,871
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Insurance - 1.4% - (continued)
|
||
|
$ 324,000
|
5.13%, 03/01/2052, (5.13% fixed rate
until 11/28/2031; 5 yr. USD CMT +
3.16% thereafter)(2)
|
$315,782
|
|
|
600,000
|
SCOR SE 5.25%, 03/13/2029, (5.25%
fixed rate until 03/13/2029; 5 yr. USD
CMT + 2.37% thereafter)(2)(5)(8)
|
574,869
|
|
|
EUR
200,000
|
Sogecap SA 6.25%, 07/08/2035, (6.25%
fixed rate until 07/08/2035; 5 yr.
EURIBOR ICE Swap + 3.75%
thereafter)(2)(5)(8)
|
237,206
|
|
|
750,000
|
Unipol Assicurazioni SpA 6.00%,
07/21/2035, (6.00% fixed rate until
07/21/2035; 5 yr. EURIBOR ICE Swap
+ 3.24% thereafter)(2)(5)(8)
|
872,908
|
|
|
$ 250,000
|
Zurich Finance Ireland Designated Activity
Co. 3.00%, 04/19/2051, (3.00% fixed
rate until 01/19/2031; 5 yr. USD CMT +
2.78% thereafter)(2)(5)
|
224,735
|
|
|
|
|
|
10,809,840
|
|
|
Internet - 0.3%
|
||
|
290,000
|
Meta Platforms, Inc. 6.30%, 05/15/2056
|
290,447
|
|
|
|
United Group BV
|
|
|
|
EUR
460,000
|
6.38%, 05/14/2033(1)
|
537,228
|
|
|
1,100,000
|
6.75%, 02/15/2031(5)
|
1,325,673
|
|
|
|
|
|
2,153,348
|
|
|
Investment Company Security - 0.3%
|
||
|
|
HA Sustainable Infrastructure Capital, Inc.
|
|
|
|
$ 741,000
|
7.13%, 11/15/2056, (7.13% fixed rate
until 08/17/2031; 5 yr. USD CMT +
3.48% thereafter)(2)
|
748,025
|
|
|
525,000
|
8.00%, 06/01/2056, (8.00% fixed rate
until 03/01/2031; 5 yr. USD CMT +
4.30% thereafter)(2)
|
557,287
|
|
|
650,000
|
Ittihad International II Ltd. 7.38%,
11/13/2030(1)
|
653,398
|
|
|
|
|
|
1,958,710
|
|
|
Iron/Steel - 0.1%
|
||
|
815,000
|
JSW Steel Ltd. 3.95%, 04/05/2027(5)
|
808,214
|
|
|
|
IT Services - 0.4%
|
||
|
3,411,000
|
McAfee Corp. 7.38%, 02/15/2030(1)
|
2,763,778
|
|
|
|
Leisure Time - 0.0%
|
||
|
25,000
|
NCL Corp. Ltd. 6.75%, 02/01/2032(1)
|
24,877
|
|
|
|
Lodging - 0.6%
|
||
|
|
Fortune Star BVI Ltd.
|
|
|
|
EUR
615,000
|
3.95%, 10/02/2026(5)
|
719,925
|
|
|
$ 1,000,000
|
5.05%, 01/27/2027(5)
|
984,952
|
|
|
|
Gohl Capital Holdings Ltd.
|
|
|
|
855,000
|
7.63%, 10/29/2031, (7.63% fixed rate
until 10/29/2031; 5 yr. USD CMT +
3.71% thereafter)(2)(5)(8)
|
848,200
|
|
|
950,000
|
8.30%, 04/29/2036, (8.30% fixed rate
until 04/29/2036; 5 yr. USD CMT +
4.26% thereafter)(2)(5)(8)
|
940,552
|
|
|
985,000
|
Studio City Finance Ltd. 5.00%,
01/15/2029(5)
|
938,736
|
|
|
|
|
|
4,432,365
|
|
|
Media - 1.3%
|
||
|
2,615,000
|
Block Communications, Inc. 10.25%,
03/01/2031(1)
|
2,421,145
|
|
|
393,000
|
Directv Financing LLC/Directv Financing
Co-Obligor, Inc. 10.00%, 02/15/2031(1)
|
408,913
|
|
|
|
49
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Media - 1.3% - (continued)
|
||
|
|
Grupo Televisa SAB
|
|
|
|
$ 1,980,000
|
5.00%, 05/13/2045
|
$1,323,013
|
|
|
620,000
|
5.25%, 05/24/2049
|
413,850
|
|
|
405,000
|
6.13%, 01/31/2046
|
309,103
|
|
|
484,000
|
Paramount Global 6.38%, 03/30/2062,
(6.38% fixed rate until 03/30/2027; 5 yr.
USD CMT + 4.00% thereafter)(2)
|
375,362
|
|
|
|
Scripps Escrow II, Inc.
|
|
|
|
292,000
|
3.88%, 01/15/2029(1)
|
276,681
|
|
|
495,000
|
5.38%, 01/15/2031(1)(9)
|
380,593
|
|
|
3,800,000
|
Univision Communications, Inc. 8.88%,
04/15/2033(1)
|
3,820,712
|
|
|
121,000
|
Versant Media Group, Inc. 7.25%,
01/30/2031(1)
|
125,630
|
|
|
280,000
|
Ziggo BV 4.88%, 01/15/2030(1)
|
263,389
|
|
|
|
|
|
10,118,391
|
|
|
Mining - 1.0%
|
||
|
|
Glencore Funding LLC
|
|
|
|
50,000
|
2.50%, 09/01/2030(1)
|
45,515
|
|
|
28,000
|
3.88%, 04/27/2051(1)
|
20,413
|
|
|
|
Ivanhoe Mines Ltd.
|
|
|
|
1,620,000
|
7.88%, 01/23/2030(5)
|
1,646,978
|
|
|
215,000
|
7.88%, 01/23/2030(1)
|
219,202
|
|
|
|
Vedanta Resources Finance II PLC
|
|
|
|
390,000
|
9.48%, 07/24/2030(1)
|
410,090
|
|
|
200,000
|
9.48%, 07/24/2030(5)
|
210,303
|
|
|
425,000
|
9.85%, 04/24/2033(1)
|
453,078
|
|
|
1,855,000
|
10.88%, 09/17/2029(1)
|
1,970,620
|
|
|
|
WE Soda Investments Holding PLC
|
|
|
|
795,000
|
9.38%, 02/14/2031(1)
|
790,004
|
|
|
1,346,000
|
9.50%, 10/06/2028(5)
|
1,359,238
|
|
|
315,000
|
9.50%, 10/06/2028(1)
|
318,098
|
|
|
|
|
|
7,443,539
|
|
|
Oil & Gas - 1.1%
|
||
|
|
Azule Energy Finance PLC
|
|
|
|
2,116,000
|
8.13%, 01/23/2030(1)
|
2,177,561
|
|
|
925,000
|
8.13%, 01/23/2030(5)
|
951,911
|
|
|
|
Diamondback Energy, Inc.
|
|
|
|
409,000
|
5.75%, 04/18/2054
|
392,435
|
|
|
20,000
|
5.90%, 04/18/2064
|
19,293
|
|
|
1,457,000
|
Energean Israel Finance Ltd. 5.88%,
03/30/2031(5)
|
1,394,802
|
|
|
880,000
|
Medco Cypress Tree Pte. Ltd. 8.63%,
05/19/2030(5)
|
919,210
|
|
|
|
Petroleos Mexicanos
|
|
|
|
495,000
|
5.95%, 01/28/2031
|
484,286
|
|
|
568,000
|
6.75%, 09/21/2047
|
478,408
|
|
|
1,475,000
|
YPF SA 6.95%, 07/21/2027(5)
|
1,485,888
|
|
|
|
|
|
8,303,794
|
|
|
Packaging & Containers - 0.6%
|
||
|
|
Ardagh Group SA
|
|
|
|
869,573
|
9.50%, 12/01/2030(1)
|
922,085
|
|
|
EUR
440,000
|
12.00%, 12/01/2030(5)(6)
|
460,337
|
|
|
150,000
|
12.00%, 12/01/2030(1)(6)
|
156,933
|
|
|
$ 1,540,000
|
SAN Miguel Industrias Pet SA/NG PET
R&P Latin America SA 3.75%,
08/02/2028(3)(5)
|
1,486,254
|
|
|
|
Sword Purchaser LLC
|
|
|
|
EUR
760,000
|
7.25%, 04/15/2033(1)
|
899,861
|
|
|
$ 115,000
|
8.25%, 04/15/2033(1)
|
117,663
|
|
|
200,000
|
Trivium Packaging Finance BV 12.25%,
01/15/2031(1)
|
218,056
|
|
|
|
|
|
4,261,189
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Pharmaceuticals - 0.4%
|
||
|
$ 235,000
|
Bausch Health Cos., Inc. 6.25%,
02/15/2029(1)
|
$172,872
|
|
|
9,000
|
CVS Health Corp. 6.75%, 12/10/2054,
(6.75% fixed rate until 09/10/2034; 5 yr.
USD CMT + 2.52% thereafter)(2)
|
9,324
|
|
|
|
Grifols SA
|
|
|
|
EUR
860,000
|
3.88%, 10/15/2028(5)(9)
|
992,685
|
|
|
970,000
|
7.50%, 05/01/2030(5)
|
1,181,615
|
|
|
|
Teva Pharmaceutical Finance Netherlands
II BV
|
|
|
|
625,000
|
4.38%, 05/09/2030
|
741,146
|
|
|
100,000
|
7.88%, 09/15/2031
|
137,377
|
|
|
|
|
|
3,235,019
|
|
|
Pipelines - 0.8%
|
||
|
$ 2,255,000
|
AL Candelaria (Spain) SA 5.75%,
06/15/2033(5)
|
2,035,327
|
|
|
|
Enbridge, Inc.
|
|
|
|
344,000
|
5.75%, 07/15/2080, (5.75% fixed rate
until 04/15/2030; 5 yr. USD CMT +
5.31% thereafter)(2)
|
346,005
|
|
|
471,000
|
7.20%, 06/27/2054, (7.20% fixed rate
until 03/27/2034; 5 yr. USD CMT +
2.97% thereafter)(2)
|
503,594
|
|
|
216,000
|
8.50%, 01/15/2084, (8.50% fixed rate
until 10/15/2033; 5 yr. USD CMT +
4.43% thereafter)(2)
|
246,048
|
|
|
|
Energy Transfer LP
|
|
|
|
124,000
|
6.50%, 02/15/2056, (6.50% fixed rate
until 11/15/2030; 5 yr. USD CMT +
2.68% thereafter)(2)
|
124,334
|
|
|
230,000
|
8.00%, 05/15/2054, (8.00% fixed rate
until 02/15/2029; 5 yr. USD CMT +
4.02% thereafter)(2)
|
243,806
|
|
|
241,000
|
South Bow Canadian Infrastructure
Holdings Ltd. 7.63%, 03/01/2055,
(7.63% fixed rate until 12/01/2029; 5 yr.
USD CMT + 3.95% thereafter)(2)
|
251,535
|
|
|
|
Targa Resources Corp.
|
|
|
|
30,000
|
4.90%, 09/15/2030
|
30,225
|
|
|
15,000
|
6.50%, 02/15/2053
|
15,528
|
|
|
|
Transcanada Trust
|
|
|
|
754,000
|
5.60%, 03/07/2082, (5.60% fixed rate
until 12/07/2031; 5 yr. USD CMT +
3.99% thereafter)(2)
|
744,789
|
|
|
131,000
|
5.88%, 08/15/2076, (5.88% fixed rate
until 08/15/2026; 3 mo. USD Term
SOFR + 4.64% thereafter)(2)
|
131,185
|
|
|
1,703,000
|
Venture Global Plaquemines LNG LLC
6.50%, 06/15/2034(1)
|
1,782,075
|
|
|
|
|
|
6,454,451
|
|
|
Real Estate - 2.5%
|
||
|
EUR
1,190,000
|
Alexandrite Lake Lux Holdings SARL
6.75%, 07/30/2030(1)
|
1,371,423
|
|
|
GBP
930,000
|
Canary Wharf Group Investment Holdings
PLC 3.38%, 04/23/2028(5)
|
1,192,827
|
|
|
|
CPI Property Group SA
|
|
|
|
EUR
560,000
|
1.50%, 01/27/2031(5)
|
530,586
|
|
|
1,080,000
|
4.75%, 07/22/2030(5)
|
1,206,647
|
|
|
3,155,000
|
7.50%, 03/26/2031, (7.50% fixed rate
until 03/26/2031; 5 yr. EURIBOR ICE
Swap + 5.23% thereafter)(2)(5)(8)
|
3,392,506
|
|
|
GBP
600,000
|
8.88%, 10/09/2030, (8.88% fixed rate
until 10/09/2030; 5 yr. U.K.
Government Bond + 5.65%
thereafter)(2)(5)(8)
|
756,200
|
|
|
|
50
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Real Estate - 2.5% - (continued)
|
||
|
$ 1,000,000
|
GLP China Holdings Ltd. 7.75%,
04/30/2029(5)
|
$804,089
|
|
|
|
GLP Pte. Ltd.
|
|
|
|
1,230,000
|
4.50%, 05/17/2026, (4.50% fixed rate
until 05/17/2026; 5 yr. USD CMT +
3.74% thereafter)(2)(5)(8)
|
562,533
|
|
|
1,720,000
|
4.60%, 06/29/2027, (4.60% fixed rate
until 06/29/2027; 5 yr. USD CMT +
3.73% thereafter)(2)(5)(8)
|
731,981
|
|
|
2,110,000
|
9.75%, 05/20/2028(5)
|
1,658,865
|
|
|
EUR
1,000,000
|
New Immo Holding SA 3.25%,
07/23/2027(5)
|
1,167,246
|
|
|
$ 1,582,000
|
Pingan Real Estate Capital Ltd. 3.45%,
07/29/2026(5)
|
1,559,445
|
|
|
|
Samhallsbyggnadsbolaget I Norden
Holding AB
|
|
|
|
EUR
525,000
|
0.75%, 11/14/2028(5)
|
535,405
|
|
|
3,760,000
|
1.13%, 09/26/2029(5)
|
3,629,591
|
|
|
200,000
|
2.38%, 08/04/2026(5)
|
233,015
|
|
|
|
|
|
19,332,359
|
|
|
Real Estate Investment Trusts - 0.9%
|
||
|
|
Brandywine Operating Partnership LP
|
|
|
|
$ 665,000
|
6.13%, 01/15/2031
|
618,906
|
|
|
875,000
|
8.88%, 04/12/2029
|
915,770
|
|
|
917,000
|
Champion MTN Ltd. 2.95%, 06/15/2030(5)
|
812,151
|
|
|
536,000
|
GLP Capital LP/GLP Financing II, Inc.
5.63%, 03/01/2036
|
526,764
|
|
|
|
Hudson Pacific Properties LP
|
|
|
|
1,630,000
|
3.25%, 01/15/2030(7)
|
1,388,872
|
|
|
170,000
|
3.95%, 11/01/2027
|
164,512
|
|
|
2,298,000
|
4.65%, 04/01/2029(7)
|
2,056,492
|
|
|
673,000
|
5.95%, 02/15/2028
|
655,790
|
|
|
|
|
|
7,139,257
|
|
|
Retail - 0.4%
|
||
|
|
Bertrand Franchise Finance SAS
|
|
|
|
EUR
300,000
|
5.99%, 07/18/2030, 3 mo. EURIBOR +
3.75%(2)(5)
|
351,662
|
|
|
100,000
|
6.50%, 07/18/2030(5)(7)
|
117,097
|
|
|
$ 370,000
|
FirstCash, Inc. 6.13%, 05/01/2034(1)
|
369,121
|
|
|
272,000
|
LBM Acquisition LLC 9.50%, 06/15/2031(1)
|
237,996
|
|
|
45,000
|
Petco Health & Wellness Co., Inc. 8.25%,
02/01/2031(1)
|
45,445
|
|
|
524,000
|
Staples, Inc. 10.75%, 09/01/2029(1)
|
500,865
|
|
|
50,000
|
Victra Holdings LLC/Victra Finance Corp.
8.75%, 09/15/2029(1)
|
52,354
|
|
|
1,080,000
|
Zhongsheng Group Holdings Ltd. 5.98%,
01/30/2028(5)
|
1,046,431
|
|
|
|
|
|
2,720,971
|
|
|
Savings & Loans - 0.0%
|
||
|
GBP
200,000
|
Nationwide Building Society 7.88%,
12/20/2031, (7.88% fixed rate until
12/20/2031; 5 yr. U.K. Government
Bond + 3.59% thereafter)(2)(5)(8)
|
280,331
|
|
|
|
Semiconductors - 0.0%
|
||
|
$ 16,000
|
Intel Corp. 3.25%, 11/15/2049
|
10,325
|
|
|
66,000
|
NVIDIA Corp. 3.50%, 04/01/2040
|
55,031
|
|
|
|
|
|
65,356
|
|
|
Software - 0.9%
|
||
|
2,085,000
|
AthenaHealth Group, Inc. 6.50%,
02/15/2030(1)
|
1,987,312
|
|
|
|
Cloud Software Group, Inc.
|
|
|
|
129,000
|
6.50%, 03/31/2029(1)
|
125,602
|
|
|
260,000
|
9.00%, 09/30/2029(1)
|
255,290
|
|
|
EUR
540,000
|
IPD 3 BV 5.50%, 06/15/2031(5)
|
605,838
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Software - 0.9% - (continued)
|
||
|
$ 350,000
|
OAK-Eagle Acquireco, Inc. 7.25%,
07/01/2033(1)
|
$360,646
|
|
|
20,000
|
Open Text Corp. 6.90%, 12/01/2027(1)
|
20,454
|
|
|
|
Oracle Corp.
|
|
|
|
209,000
|
5.38%, 07/15/2040
|
182,077
|
|
|
128,000
|
5.70%, 02/04/2036
|
122,924
|
|
|
343,000
|
6.70%, 02/04/2056
|
316,110
|
|
|
|
Rocket Software, Inc.
|
|
|
|
2,365,000
|
6.50%, 02/15/2029(1)(7)
|
2,111,708
|
|
|
139,000
|
9.00%, 11/28/2028(1)
|
138,312
|
|
|
50,000
|
Synopsys, Inc. 5.00%, 04/01/2032
|
50,528
|
|
|
EUR
225,000
|
TeamSystem SpA 5.70%, 07/31/2031, 3
mo. EURIBOR + 3.50%(1)(2)
|
256,812
|
|
|
|
|
|
6,533,613
|
|
|
Telecommunications - 2.7%
|
||
|
|
Africell Holding Ltd.
|
|
|
|
$ 3,263,000
|
10.50%, 10/23/2029(5)
|
3,283,495
|
|
|
450,000
|
10.50%, 10/23/2029(1)
|
452,758
|
|
|
|
Altice France SA
|
|
|
|
EUR
528,539
|
5.50%, 10/15/2031(5)
|
609,050
|
|
|
$ 970,271
|
6.50%, 04/15/2032(1)
|
954,297
|
|
|
EUR
303,859
|
7.25%, 11/01/2029(1)
|
359,134
|
|
|
|
AT&T, Inc.
|
|
|
|
$ 33,000
|
3.50%, 06/01/2041
|
25,457
|
|
|
39,000
|
3.85%, 06/01/2060
|
25,979
|
|
|
290,000
|
Bell Telephone Co. of Canada or Bell
Canada 7.00%, 09/15/2055, (7.00%
fixed rate until 06/15/2035; 5 yr. USD
CMT + 2.36% thereafter)(2)
|
300,948
|
|
|
240,000
|
Black Pearl Compute LLC 6.13%,
02/15/2031(1)
|
243,501
|
|
|
619,000
|
Cipher Compute LLC 7.13%,
11/15/2030(1)
|
641,599
|
|
|
264,000
|
EchoStar Corp. 6.75%, 11/30/2030(6)
|
267,859
|
|
|
EUR
200,000
|
Eolo SpA 4.88%, 10/21/2028(5)
|
203,784
|
|
|
$ 275,000
|
HUT 8 DC LLC 6.19%, 11/15/2042(1)
|
277,276
|
|
|
EUR
400,000
|
Kaixo Bondco Telecom SA 5.13%,
09/30/2029(5)
|
471,404
|
|
|
$ 550,000
|
Level 3 Financing, Inc. 8.50%,
01/15/2036(1)
|
589,056
|
|
|
EUR
100,000
|
Lorca Telecom Bondco SA 5.75%,
04/30/2029(5)
|
120,788
|
|
|
$ 180,000
|
Meridian Arc Holdco LLC 6.25%,
04/30/2031(1)
|
179,959
|
|
|
2,165,000
|
Millicom International Cellular SA 4.50%,
04/27/2031(5)
|
2,020,889
|
|
|
2,725,000
|
Road Michigan Property Owner I LLC
7.50%, 03/30/2045(1)
|
2,725,000
|
|
|
740,000
|
Rogers Communications, Inc. 6.88%,
07/31/2056, (6.88% fixed rate until
05/02/2031; 5 yr. USD CMT + 2.84%
thereafter)(2)
|
751,541
|
|
|
940,000
|
Silk Road Group Holding LLC 7.50%,
09/15/2030(1)
|
947,035
|
|
|
|
Telecom Argentina SA
|
|
|
|
1,105,000
|
8.50%, 01/20/2036(1)
|
1,141,962
|
|
|
485,000
|
8.50%, 01/20/2036(5)
|
501,223
|
|
|
188,000
|
9.25%, 05/28/2033(1)
|
199,579
|
|
|
185,000
|
9.25%, 05/28/2033(5)
|
196,394
|
|
|
587,000
|
TELUS Corp. 7.00%, 10/15/2055, (7.00%
fixed rate until 07/15/2035; 5 yr. USD
CMT + 2.71% thereafter)(2)
|
607,151
|
|
|
|
Veon Midco BV
|
|
|
|
1,200,000
|
3.38%, 11/25/2027(5)
|
1,170,525
|
|
|
430,000
|
9.00%, 07/15/2029(5)
|
448,985
|
|
|
200,000
|
9.00%, 07/15/2029(1)
|
208,830
|
|
|
|
51
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 32.6% - (continued)
|
|||
|
|
Telecommunications - 2.7% - (continued)
|
||
|
$ 408,872
|
VF Ukraine PAT via VFU Funding PLC
9.63%, 02/11/2027(3)(5)
|
$405,042
|
|
|
567,000
|
WULF Compute LLC 7.75%, 10/15/2030(1)
|
595,914
|
|
|
|
|
|
20,926,414
|
|
|
Trucking & Leasing - 0.0%
|
||
|
57,000
|
Penske Truck Leasing Co. LP/PTL
Finance Corp. 5.35%, 01/12/2027(1)
|
57,357
|
|
|
|
Water - 0.1%
|
||
|
1,207,000
|
Aegea Finance SARL 7.63%,
01/20/2036(1)
|
876,584
|
|
|
|
Total Corporate Bonds
(cost $250,236,131)
|
$249,830,921
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 6.3%
|
|||
|
|
Argentina - 0.3%
|
||
|
|
Argentina Republic Government
International Bonds
|
|
|
|
2,159,000
|
4.13%, 07/09/2035(3)
|
$1,608,455
|
|
|
180,000
|
4.13%, 07/09/2035(3)
|
134,010
|
|
|
|
Provincia de Cordoba
|
|
|
|
715,000
|
9.75%, 07/02/2032(1)
|
743,600
|
|
|
90,000
|
9.75%, 07/02/2032(5)
|
93,600
|
|
|
|
|
|
2,579,665
|
|
|
Brazil - 0.2%
|
||
|
BRL
807,000
|
Brazil Letras do Tesouro Nacional 0.00%,
01/01/2030(4)
|
101,286
|
|
|
|
Brazil Notas do Tesouro Nacional
|
|
|
|
3,256,000
|
10.00%, 01/01/2029
|
604,051
|
|
|
4,330,000
|
10.00%, 01/01/2031
|
763,648
|
|
|
523,000
|
10.00%, 01/01/2033
|
88,527
|
|
|
116,000
|
10.00%, 01/01/2035
|
19,051
|
|
|
|
|
|
1,576,563
|
|
|
Bulgaria - 0.0%
|
||
|
|
Bulgaria Government International Bonds
|
|
|
|
EUR
15,000
|
1.38%, 09/23/2050(5)
|
9,610
|
|
|
146,000
|
1.38%, 09/23/2050(5)
|
93,543
|
|
|
|
|
|
103,153
|
|
|
Cameroon - 0.5%
|
||
|
|
Republic of Cameroon International
Bonds
|
|
|
|
$ 2,800,000
|
8.88%, 01/30/2033(5)
|
2,735,962
|
|
|
800,000
|
8.88%, 01/30/2033(5)
|
781,704
|
|
|
|
|
|
3,517,666
|
|
|
Colombia - 0.5%
|
||
|
EUR
1,505,000
|
Colombia Government International
Bonds 6.50%, 11/26/2038
|
1,742,351
|
|
|
|
Colombia TES
|
|
|
|
COP
175,100,000
|
6.25%, 07/09/2036
|
30,078
|
|
|
401,900,000
|
7.00%, 06/30/2032
|
79,735
|
|
|
184,100,000
|
7.25%, 10/18/2034
|
35,023
|
|
|
199,200,000
|
7.75%, 09/18/2030
|
43,772
|
|
|
1,359,400,000
|
9.25%, 05/28/2042
|
278,579
|
|
|
441,100,000
|
11.75%, 01/24/2035
|
110,243
|
|
|
2,179,000,000
|
12.50%, 02/27/2030
|
566,785
|
|
|
808,100,000
|
12.75%, 11/28/2040
|
216,586
|
|
|
3,460,200,000
|
13.25%, 02/09/2033
|
918,800
|
|
|
|
|
|
4,021,952
|
|
|
Congo - 0.3%
|
||
|
$ 2,185,000
|
DRC International Bonds 8.75%,
04/16/2032(1)
|
2,227,275
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 6.3% - (continued)
|
|||
|
|
Czech Republic - 0.2%
|
||
|
|
Czech Republic Government Bonds
|
|
|
|
CZK
5,180,000
|
1.50%, 04/24/2040
|
$161,325
|
|
|
6,000,000
|
2.00%, 10/13/2033
|
239,600
|
|
|
3,250,000
|
3.50%, 05/30/2035
|
141,583
|
|
|
21,230,000
|
4.20%, 12/04/2036(5)
|
964,320
|
|
|
4,870,000
|
4.25%, 10/24/2034
|
225,411
|
|
|
1,550,000
|
4.50%, 11/11/2032
|
73,983
|
|
|
1,590,000
|
5.30%, 09/19/2035
|
79,032
|
|
|
|
|
|
1,885,254
|
|
|
Ecuador - 0.5%
|
||
|
|
Ecuador Government International Bonds
|
|
|
|
$ 1,872,586
|
6.90%, 07/31/2035(1)(3)
|
1,724,652
|
|
|
1,710,000
|
9.25%, 01/29/2039(1)
|
1,769,850
|
|
|
|
|
|
3,494,502
|
|
|
Gabon - 0.5%
|
||
|
4,070,000
|
Gabon Government International Bonds
6.63%, 02/06/2031(5)
|
3,429,559
|
|
|
|
Hungary - 0.0%
|
||
|
HUF
90,630,000
|
Hungary Government Bonds 7.00%,
10/24/2035
|
312,274
|
|
|
|
India - 0.1%
|
||
|
|
India Government Bonds
|
|
|
|
INR
13,850,000
|
6.64%, 06/16/2035
|
141,535
|
|
|
74,310,000
|
7.30%, 06/19/2053
|
748,034
|
|
|
|
|
|
889,569
|
|
|
Indonesia - 0.1%
|
||
|
|
Indonesia Treasury Bonds
|
|
|
|
IDR
840,000,000
|
5.88%, 03/15/2031
|
46,600
|
|
|
2,004,000,000
|
6.75%, 07/15/2035
|
114,266
|
|
|
5,069,000,000
|
7.13%, 06/15/2043
|
297,458
|
|
|
1,724,000,000
|
7.13%, 08/15/2045
|
102,584
|
|
|
|
|
|
560,908
|
|
|
Kazakhstan - 0.2%
|
||
|
|
Kazakhstan Government International
Bonds
|
|
|
|
KZT
74,748,000
|
7.90%, 12/20/2038(1)
|
94,632
|
|
|
115,915,000
|
11.05%, 01/28/2037(1)
|
192,724
|
|
|
92,085,000
|
14.00%, 05/12/2031(1)
|
185,619
|
|
|
226,902,000
|
14.00%, 02/13/2035(1)
|
452,786
|
|
|
94,979,000
|
15.10%, 03/12/2034(1)
|
200,595
|
|
|
|
|
|
1,126,356
|
|
|
Malaysia - 0.3%
|
||
|
|
Malaysia Government Bonds
|
|
|
|
MYR
1,853,000
|
3.52%, 04/20/2028
|
469,432
|
|
|
109,000
|
3.58%, 07/15/2032
|
27,622
|
|
|
91,000
|
3.76%, 05/22/2040
|
22,715
|
|
|
115,000
|
3.89%, 08/15/2029
|
29,537
|
|
|
2,284,000
|
3.90%, 11/30/2026
|
578,378
|
|
|
2,144,000
|
3.90%, 11/16/2027
|
546,753
|
|
|
603,000
|
3.91%, 07/15/2026
|
152,110
|
|
|
192,000
|
4.46%, 03/31/2053
|
51,476
|
|
|
248,000
|
4.70%, 10/15/2042
|
68,091
|
|
|
|
|
|
1,946,114
|
|
|
Mexico - 0.5%
|
||
|
|
Mexico Bonos
|
|
|
|
MXN
5,604,700
|
7.50%, 05/26/2033
|
294,221
|
|
|
11,600,500
|
7.75%, 11/13/2042
|
556,071
|
|
|
4,770,600
|
8.00%, 04/15/2032
|
260,116
|
|
|
4,800,600
|
8.00%, 02/21/2036
|
252,237
|
|
|
329,900
|
8.00%, 11/07/2047
|
15,873
|
|
|
3,353,900
|
8.00%, 07/31/2053
|
159,598
|
|
|
2,186,400
|
8.00%, 04/29/2055
|
103,801
|
|
|
3,024,900
|
8.50%, 03/01/2029
|
173,942
|
|
|
|
52
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 6.3% - (continued)
|
|||
|
|
Mexico - 0.5% - (continued)
|
||
|
MXN
7,650,600
|
8.50%, 11/18/2038
|
$404,651
|
|
|
|
Mexico Cetes
|
|
|
|
5,752,420
|
0.00%, 01/21/2027(4)
|
312,441
|
|
|
4,593,830
|
0.00%, 10/28/2027(4)
|
234,981
|
|
|
$ 22,000
|
Mexico Government International Bonds
5.75%, 10/12/2110
|
18,106
|
|
|
MXN
23,642,854
|
Mexico Udibonos 2.75%, 11/27/2031(10)
|
1,230,611
|
|
|
|
|
|
4,016,649
|
|
|
Paraguay - 0.0%
|
||
|
PYG
1,529,000,000
|
Paraguay Government International
Bonds 8.50%, 04/04/2038(1)
|
243,644
|
|
|
|
Peru - 0.0%
|
||
|
|
Peru Government Bonds
|
|
|
|
PEN
168,000
|
5.35%, 08/12/2040
|
40,625
|
|
|
472,000
|
7.60%, 08/12/2039(5)
|
140,994
|
|
|
|
|
|
181,619
|
|
|
Poland - 0.3%
|
||
|
PLN
7,112,000
|
Republic of Poland Government Bonds
3.40%, 09/25/2028, PLTRCI + 0.00%(2)
|
1,922,321
|
|
|
|
Romania - 0.8%
|
||
|
|
Romania Government Bonds
|
|
|
|
RON
1,025,000
|
6.75%, 04/25/2035
|
223,346
|
|
|
780,000
|
7.10%, 07/31/2034
|
173,898
|
|
|
|
Romania Government International Bonds
|
|
|
|
EUR
1,055,000
|
2.75%, 04/14/2041(5)
|
787,275
|
|
|
2,104,000
|
2.88%, 04/13/2042(5)
|
1,566,101
|
|
|
2,940,000
|
6.00%, 09/24/2044(1)
|
3,207,562
|
|
|
|
|
|
5,958,182
|
|
|
Serbia - 0.0%
|
||
|
254,000
|
Serbia International Bonds 4.25%,
05/06/2031(1)
|
295,970
|
|
|
|
South Africa - 0.2%
|
||
|
ZAR
5,000,000
|
Republic of South Africa Floating Rate
Note 8.06%, 07/11/2027, 3 mo. ZAR
JIBAR + 1.30%(2)
|
300,982
|
|
|
5,000,000
|
Republic of South Africa Floating Rate
Notes 7.64%, 09/17/2030, 3 mo. ZAR
JIBAR + 0.96%(2)
|
301,048
|
|
|
|
Republic of South Africa Government
Bonds
|
|
|
|
1,815,000
|
8.50%, 01/31/2037
|
104,532
|
|
|
971,000
|
8.75%, 01/31/2044
|
54,808
|
|
|
1,704,000
|
8.75%, 02/28/2048
|
96,359
|
|
|
11,038,000
|
9.88%, 03/31/2039
|
689,553
|
|
|
|
|
|
1,547,282
|
|
|
Sri Lanka - 0.4%
|
||
|
|
Sri Lanka Government International
Bonds
|
|
|
|
$ 2,321,727
|
3.60%, 05/15/2036(1)(3)(7)
|
2,179,939
|
|
|
1,323,273
|
3.60%, 02/15/2038(1)(3)
|
1,245,038
|
|
|
|
|
|
3,424,977
|
|
|
Supranational - 0.1%
|
||
|
INR
16,860,000
|
Asian Development Bank 6.20%,
10/06/2026
|
175,799
|
|
|
3,500,000
|
Asian Infrastructure Investment Bank
7.00%, 03/01/2029(5)
|
35,889
|
|
|
|
European Bank for Reconstruction &
Development
|
|
|
|
10,700,000
|
6.50%, 10/03/2036
|
102,959
|
|
|
15,500,000
|
6.75%, 01/13/2032
|
156,600
|
|
|
29,000,000
|
6.75%, 01/14/2033
|
289,591
|
|
|
|
|
|
760,838
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 6.3% - (continued)
|
|||
|
|
Thailand - 0.2%
|
||
|
|
Thailand Government Bonds
|
|
|
|
THB
10,839,000
|
1.84%, 05/17/2036
|
$322,081
|
|
|
5,721,000
|
2.50%, 11/17/2029
|
181,688
|
|
|
3,480,000
|
2.98%, 06/17/2045
|
104,998
|
|
|
9,875,000
|
3.45%, 06/17/2043
|
319,423
|
|
|
6,148,000
|
4.88%, 06/22/2029
|
208,712
|
|
|
|
|
|
1,136,902
|
|
|
Turkey - 0.1%
|
||
|
|
Turkiye Government Bonds
|
|
|
|
TRY
8,323,000
|
26.20%, 10/05/2033
|
152,621
|
|
|
2,978,000
|
27.70%, 09/27/2034
|
56,861
|
|
|
39,698,000
|
40.86%, 06/16/2027, 1 day TRY TLREF
Rate + 0.00%(2)
|
896,142
|
|
|
|
|
|
1,105,624
|
|
|
Total Foreign Government
Obligations
(cost $47,957,672)
|
|
$48,264,818
|
|
SENIOR FLOATING RATE INTERESTS - 8.9%(11)
|
|||
|
|
Advertising - 0.1%
|
||
|
$ 500,000
|
Wasserman Media Group LLC 6.15%,
06/23/2032, 1 mo. USD Term SOFR +
2.50%
|
$498,750
|
|
|
|
Aerospace & Defense - 0.3%
|
||
|
|
Air Comm Corp. LLC
|
|
|
|
4,615
|
1.00%, 12/11/2031, 3 mo. USD Term
SOFR + 1.00%(12)
|
4,628
|
|
|
94,440
|
6.42%, 12/11/2031, 3 mo. USD Term
SOFR + 2.75%
|
94,706
|
|
|
500,000
|
Barnes Group, Inc. 6.15%, 01/27/2032,
1 mo. USD Term SOFR + 2.50%
|
499,895
|
|
|
|
PMI U.S. Bidco, Inc.
|
|
|
|
68,966
|
6.91%, 03/16/2033, 3 mo. USD Term
SOFR + 3.25%
|
69,397
|
|
|
431,034
|
6.92%, 03/16/2033, U.S. (Fed) Prime
Rate + 0.17%
|
433,728
|
|
|
|
TransDigm, Inc.
|
|
|
|
672,872
|
6.15%, 08/19/2032, 1 mo. USD Term
SOFR + 2.50%
|
673,834
|
|
|
465,000
|
6.15%, 02/13/2033, 1 mo. USD Term
SOFR + 2.50%
|
465,670
|
|
|
|
|
|
2,241,858
|
|
|
Agriculture - 0.0%
|
||
|
198,753
|
Golden State Food LLC 7.20%,
12/04/2031, 3 mo. USD Term SOFR +
3.50%
|
199,460
|
|
|
|
Airlines - 0.3%
|
||
|
795,740
|
American Airlines, Inc. 6.43%,
05/28/2032, 3 mo. USD Term SOFR +
2.75%
|
791,595
|
|
|
147,750
|
AS Mileage Plan IP Ltd. 5.43%,
10/15/2031, 3 mo. USD Term SOFR +
1.75%
|
147,750
|
|
|
496,234
|
JetBlue Airways Corp. 8.44%, 08/27/2029,
3 mo. USD Term SOFR + 4.75%
|
439,996
|
|
|
740,000
|
OneSky Flight LLC 6.42%, 02/17/2033,
1 mo. USD Term SOFR + 2.75%
|
740,466
|
|
|
390,030
|
VistaJet Malta Finance PLC 7.44%,
04/01/2031, 3 mo. USD Term SOFR +
3.75%
|
386,199
|
|
|
|
|
|
2,506,006
|
|
|
53
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 8.9%(11) - (continued)
|
|||
|
|
Apparel - 0.1%
|
||
|
$ 498,734
|
ABG Intermediate Holdings 2 LLC 5.90%,
12/21/2028, 1 mo. USD Term SOFR +
2.25%
|
$499,702
|
|
|
610,000
|
Varsity Brands, Inc. 6.45%, 08/26/2031,
3 mo. USD Term SOFR + 2.75%
|
608,932
|
|
|
|
|
|
1,108,634
|
|
|
Auto Parts & Equipment - 0.0%
|
||
|
129,350
|
Clarios Global LP 6.40%, 01/28/2032,
1 mo. USD Term SOFR + 2.75%
|
129,889
|
|
|
|
Beverages - 0.0%
|
||
|
265,000
|
Primo Brands Corp. 6.43%, 03/31/2031,
3 mo. USD Term SOFR + 2.75%
|
266,521
|
|
|
|
Biotechnology - 0.0%
|
||
|
146,250
|
Genmab AS 6.70%, 12/13/2032, 3 mo.
USD Term SOFR + 3.00%
|
147,063
|
|
|
|
Chemicals - 0.2%
|
||
|
184,068
|
AAP Buyer, Inc. 6.41%, 09/09/2031, 3 mo.
USD Term SOFR + 2.75%
|
184,605
|
|
|
500,000
|
Ineos U.S. Finance LLC 6.65%,
02/07/2031, 1 mo. USD Term SOFR +
3.00%
|
466,250
|
|
|
349,125
|
Olympus Water U.S. Holding Corp. 6.95%,
11/03/2032, 3 mo. USD Term SOFR +
3.25%
|
345,051
|
|
|
124,688
|
Qnity Electronics, Inc. 5.65%, 11/01/2032,
1 mo. USD Term SOFR + 2.00%
|
125,052
|
|
|
|
|
|
1,120,958
|
|
|
Commercial Services - 0.8%
|
||
|
603,097
|
Allied Universal Holdco LLC 6.90%,
08/20/2032, 1 mo. USD Term SOFR +
3.25%
|
604,563
|
|
|
530,864
|
Belron Finance 2019 LLC 5.66%,
10/16/2031, 3 mo. USD Term SOFR +
2.00%
|
533,078
|
|
|
228,850
|
Citrin Cooperman Advisors LLC 6.70%,
04/01/2032, 3 mo. USD Term SOFR +
3.00%
|
220,268
|
|
|
114,202
|
Corp. Service Co. 5.65%, 11/02/2029,
1 mo. USD Term SOFR + 2.00%
|
114,345
|
|
|
492,454
|
First Advantage Holdings LLC 6.45%,
10/31/2031, 3 mo. USD Term SOFR +
2.75%
|
485,683
|
|
|
547,627
|
Fugue Finance BV 5.92%, 01/09/2032,
3 mo. USD Term SOFR + 2.25%
|
545,437
|
|
|
398,499
|
OMNIA Partners LLC 6.43%, 12/31/2032,
3 mo. USD Term SOFR + 2.75%
|
400,292
|
|
|
349,125
|
Parexel International Corp. 6.40%,
12/12/2031, 1 mo. USD Term SOFR +
2.75%
|
349,125
|
|
|
99,002
|
PG Investment Co. 59 SARL 5.95%,
03/26/2031, 3 mo. USD Term SOFR +
2.25%
|
99,404
|
|
|
|
Pye-Barker Fire & Safety LLC
|
|
|
|
18,850
|
3.07%, 12/16/2032, 3 mo. USD Term
SOFR + 2.50%(12)
|
18,919
|
|
|
126,150
|
6.16%, 12/16/2032, 3 mo. USD Term
SOFR + 2.50%
|
126,613
|
|
|
898,489
|
Ryan LLC 7.15%, 11/05/2032, 1 mo. USD
Term SOFR + 3.50%
|
883,331
|
|
|
EUR
250,000
|
Techem Verwaltungsgesellschaft 675
GmbH 5.23%, 07/15/2032, 3 mo.
EURIBOR + 3.25%
|
294,819
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 8.9%(11) - (continued)
|
|||
|
|
Commercial Services - 0.8% - (continued)
|
||
|
$ 287,788
|
Trans Union LLC 5.40%, 06/24/2031,
1 mo. USD Term SOFR + 1.75%
|
$287,644
|
|
|
1,000,000
|
Vestis Corp. 5.92%, 02/22/2031, 3 mo.
USD Term SOFR + 2.25%
|
975,000
|
|
|
|
|
|
5,938,521
|
|
|
Construction Materials - 0.4%
|
||
|
248,125
|
Chamberlain Group, Inc. 6.40%,
09/08/2032, 1 mo. USD Term SOFR +
2.75%
|
247,634
|
|
|
|
Emerald Borrower LP
|
|
|
|
676,527
|
5.92%, 05/31/2030, 3 mo. USD Term
SOFR + 2.25%
|
677,007
|
|
|
298,003
|
5.95%, 08/04/2031, 3 mo. USD Term
SOFR + 2.25%
|
298,229
|
|
|
1,087,261
|
Hobbs & Associates LLC 6.40%,
07/23/2031, 1 mo. USD Term SOFR +
2.75%
|
1,080,466
|
|
|
547,118
|
Quikrete Holdings, Inc. 5.90%,
02/10/2032, 1 mo. USD Term SOFR +
2.25%
|
547,326
|
|
|
|
|
|
2,850,662
|
|
|
Distribution/Wholesale - 0.2%
|
||
|
190,769
|
American Builders & Contractors Supply
Co., Inc. 5.40%, 01/31/2031, 1 mo.
USD Term SOFR + 1.75%
|
191,318
|
|
|
348,750
|
Core & Main LP 5.65%, 02/09/2031, 1 mo.
USD Term SOFR + 2.00%
|
348,896
|
|
|
348,873
|
Gloves Buyer, Inc. 7.65%, 05/21/2032,
1 mo. USD Term SOFR + 4.00%
|
348,364
|
|
|
648,359
|
Windsor Holdings III LLC 6.40%,
08/01/2030, 1 mo. USD Term SOFR +
2.75%
|
645,279
|
|
|
|
|
|
1,533,857
|
|
|
Diversified Financial Services - 0.3%
|
||
|
648,375
|
Blackhawk Network Holdings, Inc. 7.15%,
03/12/2029, 1 mo. USD Term SOFR +
3.50%
|
641,314
|
|
|
119,700
|
CFC Bidco 2022 Ltd. 7.18%, 07/01/2032,
3 mo. USD Term SOFR + 3.50%
|
115,211
|
|
|
653,358
|
Focus Financial Partners LLC 6.15%,
09/15/2031, 1 mo. USD Term SOFR +
2.50%
|
647,916
|
|
|
388,322
|
HighTower Holdings LLC 6.41%,
02/03/2032, 3 mo. USD Term SOFR +
2.75%
|
387,596
|
|
|
145,000
|
Jupiter Borrower, Inc. 6.41%, 03/25/2033,
1 mo. USD Term SOFR + 2.75%
|
145,362
|
|
|
240,000
|
Osaic Holdings, Inc. 6.20%, 07/30/2032,
3 mo. USD Term SOFR + 2.50%
|
239,825
|
|
|
|
|
|
2,177,224
|
|
|
Electronics - 0.2%
|
||
|
482,057
|
LSF12 Crown U.S. Commercial Bidco LLC
6.66%, 12/02/2031, 1 mo. USD Term
SOFR + 3.00%
|
484,669
|
|
|
645,000
|
Resilience Parent LLC 6.13%, 02/28/2033,
6 mo. USD Term SOFR + 2.50%
|
646,290
|
|
|
140,000
|
Sanmina Corp. 5.66%, 10/27/2032, 1 mo.
USD Term SOFR + 2.00%
|
140,525
|
|
|
|
|
|
1,271,484
|
|
|
Engineering & Construction - 0.3%
|
||
|
580,000
|
AGI-CFI Acquisition Corp. 8.20%,
03/25/2033, 3 mo. USD Term SOFR +
4.50%
|
578,069
|
|
|
|
54
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 8.9%(11) - (continued)
|
|||
|
|
Engineering & Construction - 0.3% - (continued)
|
||
|
$ 99,500
|
Blackfin Pipeline LLC 6.69%, 09/29/2032,
1 mo. USD Term SOFR + 3.00%
|
$100,143
|
|
|
|
Brown Group Holding LLC
|
|
|
|
498,738
|
6.15%, 07/01/2031, 1 mo. USD Term
SOFR + 2.50%
|
500,952
|
|
|
129,020
|
6.16%, 07/01/2031, 1 mo. USD Term
SOFR + 2.50%
|
129,651
|
|
|
350,000
|
Dycom Investments, Inc. 5.40%,
01/27/2033, 1 mo. USD Term SOFR +
1.75%
|
352,408
|
|
|
402,960
|
Newly Weds Foods, Inc. 5.90%,
03/15/2032, 1 mo. USD Term SOFR +
2.25%
|
402,331
|
|
|
502,708
|
Tecta America Corp. 6.40%, 02/18/2032,
1 mo. USD Term SOFR + 2.75%
|
502,009
|
|
|
|
|
|
2,565,563
|
|
|
Entertainment - 0.4%
|
||
|
750,000
|
Crown Finance U.S., Inc. 8.16%,
12/02/2031, 1 mo. USD Term SOFR +
4.50%
|
748,958
|
|
|
597,993
|
EOC Borrower LLC 6.40%, 03/24/2032,
1 mo. USD Term SOFR + 2.75%
|
599,339
|
|
|
99,250
|
Flutter Financing BV 5.70%, 06/04/2032,
3 mo. USD Term SOFR + 2.00%
|
98,568
|
|
|
210,135
|
Great Canadian Gaming Corp. 8.44%,
11/01/2029, 3 mo. USD Term SOFR +
4.75%
|
204,291
|
|
|
648,367
|
Herschend Entertainment Co. LLC 6.15%,
05/27/2032, 1 mo. USD Term SOFR +
2.50%
|
650,694
|
|
|
855,598
|
TKO Worldwide Holdings LLC 5.66%,
11/21/2031, 3 mo. USD Term SOFR +
2.00%
|
857,549
|
|
|
|
|
|
3,159,399
|
|
|
Food - 0.3%
|
||
|
399,504
|
Aspire Bakeries Holdings LLC 6.65%,
12/23/2030, 1 mo. USD Term SOFR +
3.00%
|
400,754
|
|
|
249,375
|
Chobani LLC 5.90%, 10/28/2032, 1 mo.
USD Term SOFR + 2.25%
|
250,667
|
|
|
869,700
|
Froneri Lux Finco SARL 5.88%,
09/30/2032, 6 mo. USD Term SOFR +
2.25%
|
862,995
|
|
|
695,000
|
TreeHouse Foods, Inc. 7.90%,
02/11/2033, 1 mo. USD Term SOFR +
4.25%
|
699,997
|
|
|
194,756
|
U.S. Foods, Inc. 5.40%, 11/22/2028, 1 mo.
USD Term SOFR + 1.75%
|
196,004
|
|
|
|
|
|
2,410,417
|
|
|
Food Service - 0.0%
|
||
|
250,000
|
Aramark Services, Inc. 5.40%,
04/06/2028, 1 mo. USD Term SOFR +
1.75%
|
250,520
|
|
|
|
Healthcare - Products - 0.2%
|
||
|
397,750
|
Bausch & Lomb Corp. 7.40%, 01/15/2031,
1 mo. USD Term SOFR + 3.75%
|
399,616
|
|
|
|
Hanger, Inc.
|
|
|
|
13,069
|
5.78%, 10/23/2031, 1 mo. USD Term
SOFR + 3.50%(12)
|
13,137
|
|
|
100,863
|
7.15%, 10/23/2031, 1 mo. USD Term
SOFR + 3.50%
|
101,389
|
|
|
800,000
|
Hologic, Inc. 5.92%, 04/07/2033, 3 mo.
USD Term SOFR + 2.25%
|
795,504
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 8.9%(11) - (continued)
|
|||
|
|
Healthcare - Products - 0.2% - (continued)
|
||
|
$ 98,196
|
Insulet Corp. 5.65%, 08/01/2031, 1 mo.
USD Term SOFR + 2.00%
|
$98,932
|
|
|
68,562
|
Medline Borrower LP 5.40%, 10/23/2028,
1 mo. USD Term SOFR + 1.75%
|
68,789
|
|
|
|
|
|
1,477,367
|
|
|
Healthcare - Services - 0.3%
|
||
|
997,375
|
ADMI Corp. 7.14%, 12/23/2027, 1 mo.
USD Term SOFR + 3.38%
|
952,493
|
|
|
750,000
|
Charlotte Buyer, Inc. 7.90%, 02/11/2028,
1 mo. USD Term SOFR + 4.25%
|
750,938
|
|
|
447,348
|
Star Parent, Inc. 7.70%, 09/27/2030,
3 mo. USD Term SOFR + 4.00%
|
447,379
|
|
|
|
|
|
2,150,810
|
|
|
Home Builders - 0.0%
|
||
|
110,454
|
Installed Building Products, Inc. 5.40%,
03/28/2031, 1 mo. USD Term SOFR +
1.75%
|
110,800
|
|
|
|
Home Furnishings - 0.2%
|
||
|
1,000,000
|
AI Aqua Merger Sub, Inc. 6.16%,
07/31/2028, 1 mo. USD Term SOFR +
2.50%
|
1,002,330
|
|
|
460,828
|
Somnigroup International, Inc. 5.90%,
10/24/2031, 1 mo. USD Term SOFR +
2.25%
|
461,980
|
|
|
|
|
|
1,464,310
|
|
|
Insurance - 0.7%
|
||
|
|
Acrisure LLC
|
|
|
|
400,000
|
6.65%, 11/06/2030, 1 mo. USD Term
SOFR + 3.00%
|
393,000
|
|
|
682,356
|
6.90%, 06/21/2032, 1 mo. USD Term
SOFR + 3.25%
|
669,562
|
|
|
99,501
|
Alera Group, Inc. 6.40%, 05/30/2032,
1 mo. USD Term SOFR + 2.75%
|
98,309
|
|
|
498,744
|
Alliant Holdings Intermediate LLC 6.15%,
09/19/2031, 1 mo. USD Term SOFR +
2.50%
|
497,756
|
|
|
694,987
|
Asurion LLC 7.41%, 02/23/2033, 3 mo.
USD Term SOFR + 3.75%
|
683,117
|
|
|
349,121
|
Howden Group Holdings Ltd. 6.40%,
02/15/2031, 1 mo. USD Term SOFR +
2.75%
|
343,556
|
|
|
777,742
|
HUB International Ltd. 5.92%, 06/20/2030,
3 mo. USD Term SOFR + 2.25%
|
779,523
|
|
|
848,123
|
Sedgwick Claims Management Services,
Inc. 6.15%, 07/31/2031, 1 mo. USD
Term SOFR + 2.50%
|
841,525
|
|
|
245,000
|
Truist Insurance Holdings LLC 6.45%,
05/06/2031, 3 mo. USD Term SOFR +
2.75%
|
243,040
|
|
|
498,734
|
USI, Inc. 5.95%, 11/21/2029, 3 mo. USD
Term SOFR + 2.25%
|
499,178
|
|
|
|
|
|
5,048,566
|
|
|
Internet - 0.2%
|
||
|
138,830
|
Go Daddy Operating Co. LLC 5.40%,
11/09/2029, 1 mo. USD Term SOFR +
1.75%
|
136,819
|
|
|
|
MH Sub I LLC
|
|
|
|
564,672
|
7.90%, 05/03/2028, 1 mo. USD Term
SOFR + 4.25%
|
518,985
|
|
|
|
55
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 8.9%(11) - (continued)
|
|||
|
|
Internet - 0.2% - (continued)
|
||
|
$ 43,776
|
7.90%, 12/31/2031, 1 mo. USD Term
SOFR + 4.25%
|
$34,255
|
|
|
667,005
|
Proofpoint, Inc. 6.70%, 08/31/2028, 3 mo.
USD Term SOFR + 3.00%
|
646,715
|
|
|
|
|
|
1,336,774
|
|
|
Investment Company Security - 0.1%
|
||
|
697,500
|
Dragon Buyer, Inc. 6.45%, 09/30/2031,
3 mo. USD Term SOFR + 2.75%
|
665,764
|
|
|
100,000
|
Gryphon Acquire Newco LLC 6.67%,
09/13/2032, 3 mo. USD Term SOFR +
3.00%
|
100,104
|
|
|
|
|
|
765,868
|
|
|
IT Services - 0.4%
|
||
|
925,000
|
Amentum Holdings, Inc. 5.40%,
09/29/2031, 1 mo. USD Term SOFR +
1.75%
|
924,889
|
|
|
575,000
|
CACI International, Inc. 5.40%,
03/09/2033, 1 mo. USD Term SOFR +
1.75%
|
576,196
|
|
|
440,272
|
Fortress Intermediate 3, Inc. 6.66%,
06/27/2031, 1 mo. USD Term SOFR +
3.00%
|
437,520
|
|
|
297,522
|
Kaseya, Inc. 6.91%, 03/22/2032, 3 mo.
USD Term SOFR + 3.25%
|
269,790
|
|
|
398,379
|
McAfee LLC 6.65%, 03/01/2029, 1 mo.
USD Term SOFR + 3.00%
|
350,076
|
|
|
165,643
|
Surf Holdings LLC 7.27%, 03/05/2027,
1 mo. USD Term SOFR + 3.50%
|
160,094
|
|
|
|
|
|
2,718,565
|
|
|
Leisure Time - 0.1%
|
||
|
189,782
|
Hayward Industries, Inc. 6.27%,
05/30/2028, 1 mo. USD Term SOFR +
2.50%
|
190,494
|
|
|
357,989
|
LC AHAB U.S. Bidco LLC 6.15%,
05/01/2031, 1 mo. USD Term SOFR +
2.50%
|
358,139
|
|
|
|
|
|
548,633
|
|
|
Media - 0.3%
|
||
|
748,087
|
Charter Communications Operating LLC
5.69%, 12/07/2030, 3 mo. USD Term
SOFR + 2.00%
|
747,047
|
|
|
1,120,000
|
NEP Group, Inc. 8.15%, 10/17/2031,
1 mo. USD Term SOFR + 4.50%
|
1,007,586
|
|
|
375,000
|
Nexstar Broadcasting, Inc. 6.40%,
03/18/2033, 1 mo. USD Term SOFR +
2.75%
|
374,415
|
|
|
220,000
|
Sunrise Financing Partnership 6.10%,
02/15/2032, 6 mo. USD Term SOFR +
2.47%
|
219,916
|
|
|
|
|
|
2,348,964
|
|
|
Metal Fabricate/Hardware - 0.1%
|
||
|
585,000
|
Advanced Drainage Systems, Inc. 5.29%,
02/28/2033, 1 mo. USD Term SOFR +
1.63%
|
589,206
|
|
|
|
Mining - 0.0%
|
||
|
118,800
|
Novelis Corp. 5.45%, 03/11/2032, 3 mo.
USD Term SOFR + 1.75%
|
119,134
|
|
|
|
Miscellaneous Manufacturing - 0.0%
|
||
|
99,000
|
John Bean Technologies Corp. 5.40%,
01/02/2032, 1 mo. USD Term SOFR +
1.75%
|
99,272
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 8.9%(11) - (continued)
|
|||
|
|
Packaging & Containers - 0.4%
|
||
|
$ 748,120
|
Berlin Packaging LLC 6.94%, 06/07/2031,
3 mo. USD Term SOFR + 3.25%
|
$736,150
|
|
|
560,267
|
Clydesdale Acquisition Holdings, Inc.
6.83%, 04/13/2029, 1 mo. USD Term
SOFR + 3.18%
|
533,206
|
|
|
533,663
|
Owens-Illinois, Inc. 6.65%, 09/30/2032,
1 mo. USD Term SOFR + 3.00%
|
525,658
|
|
|
1,313,838
|
Proampac PG Borrower LLC 7.66%,
03/07/2033, 3 mo. USD Term SOFR +
4.00%
|
1,282,635
|
|
|
352,991
|
TricorBraun Holdings, Inc. 6.90%,
03/03/2031, 1 mo. USD Term SOFR +
3.25%
|
337,106
|
|
|
|
|
|
3,414,755
|
|
|
Pharmaceuticals - 0.2%
|
||
|
99,500
|
Amneal Pharmaceuticals LLC 6.65%,
08/01/2032, 1 mo. USD Term SOFR +
3.00%
|
99,831
|
|
|
747,872
|
Bausch Health Cos., Inc. 9.90%,
10/08/2030, 1 mo. USD Term SOFR +
6.25%
|
727,119
|
|
|
500,000
|
Endo Luxembourg Finance Co. I SARL
7.40%, 04/23/2031, 1 mo. USD Term
SOFR + 3.75%
|
497,500
|
|
|
EUR
290,000
|
IVC Acquisition Ltd. 6.12%, 12/12/2028, 3
mo. EURIBOR + 4.00%
|
340,446
|
|
|
|
|
|
1,664,896
|
|
|
Pipelines - 0.3%
|
||
|
$ 523,248
|
Colossus Acquireco LLC 5.38%,
07/30/2032, 3 mo. USD Term SOFR +
1.75%
|
523,138
|
|
|
648,272
|
NorthRiver Midstream Finance LP 5.94%,
08/16/2030, 3 mo. USD Term SOFR +
2.25%
|
648,810
|
|
|
498,737
|
Oryx Midstream Services Permian
Basin LLC 5.90%, 10/05/2028, 1 mo.
USD Term SOFR + 2.25%
|
500,019
|
|
|
250,000
|
Traverse Midstream Partners LLC 5.90%,
04/21/2033, 1 mo. USD Term SOFR +
2.25%
|
250,157
|
|
|
440,000
|
Venture Global Calcasieu Pass LLC
6.95%, 04/11/2033, 6 mo. USD Term
SOFR + 3.25%
|
441,030
|
|
|
99,750
|
WhiteWater Matterhorn Holdings LLC
5.45%, 06/16/2032, 3 mo. USD Term
SOFR + 1.75%
|
99,465
|
|
|
|
|
|
2,462,619
|
|
|
Retail - 0.7%
|
||
|
500,000
|
BCPE Grill Parent 8.42%, 09/30/2030,
3 mo. USD Term SOFR + 4.75%
|
487,500
|
|
|
506,744
|
Flynn Restaurant Group LP 7.40%,
01/28/2032, 1 mo. USD Term SOFR +
3.75%
|
503,470
|
|
|
457,242
|
Great Outdoors Group LLC 6.90%,
01/23/2032, 1 mo. USD Term SOFR +
3.25%
|
459,643
|
|
|
491,438
|
IRB Holding Corp. 6.15%, 12/16/2030,
1 mo. USD Term SOFR + 2.50%
|
492,588
|
|
|
337,609
|
LBM Acquisition LLC 7.50%, 06/06/2031,
1 mo. USD Term SOFR + 3.75%
|
280,891
|
|
|
620,000
|
Petco Health & Wellness Co., Inc. 7.95%,
02/03/2031, 3 mo. USD Term SOFR +
4.25%
|
615,195
|
|
|
|
56
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SENIOR FLOATING RATE INTERESTS - 8.9%(11) - (continued)
|
|||
|
|
Retail - 0.7% - (continued)
|
||
|
$ 397,222
|
QXO, Inc. 5.65%, 04/30/2032, 1 mo. USD
Term SOFR + 2.00%
|
$397,238
|
|
|
1,345,921
|
Specialty Building Products Holdings LLC
7.50%, 10/16/2028, 1 mo. USD Term
SOFR + 3.75%
|
1,166,752
|
|
|
960,000
|
White Cap Buyer LLC 7.17%, 02/10/2033,
1 mo. USD Term SOFR + 3.50%
|
951,465
|
|
|
|
|
|
5,354,742
|
|
|
Software - 0.7%
|
||
|
748,111
|
Athenahealth Group, Inc. 6.40%,
02/15/2029, 1 mo. USD Term SOFR +
2.75%
|
744,774
|
|
|
749,001
|
BCPE Pequod Buyer, Inc. 6.40%,
11/25/2031, 1 mo. USD Term SOFR +
2.75%
|
740,575
|
|
|
1,246,851
|
Boxer Parent Co., Inc. 6.67%, 07/30/2031,
3 mo. USD Term SOFR + 3.00%
|
1,151,779
|
|
|
|
Cotiviti Corp.
|
|
|
|
500,000
|
6.41%, 05/01/2031, 1 mo. USD Term
SOFR + 2.75%
|
463,750
|
|
|
198,500
|
6.41%, 03/26/2032, 1 mo. USD Term
SOFR + 2.75%
|
181,768
|
|
|
250,000
|
Dayforce, Inc. 6.66%, 02/04/2033, 3 mo.
USD Term SOFR + 3.00%
|
235,563
|
|
|
275,000
|
Electronic Arts, Inc. 7.16%, 03/24/2033,
1 mo. USD Term SOFR + 3.50%
|
275,069
|
|
|
500,000
|
Genesys Cloud Services Holdings II LLC
6.15%, 01/30/2032, 1 mo. USD Term
SOFR + 2.50%
|
485,000
|
|
|
148,875
|
Project Boost Purchaser LLC 6.45%,
07/16/2031, 3 mo. USD Term SOFR +
2.75%
|
145,964
|
|
|
697,742
|
Rocket Software, Inc. 7.40%, 11/28/2028,
1 mo. USD Term SOFR + 3.75%
|
664,544
|
|
|
322,014
|
Waystar Technologies, Inc. 5.65%,
10/22/2029, 1 mo. USD Term SOFR +
2.00%
|
322,014
|
|
|
190,593
|
Zelis Payments Buyer, Inc. 6.40%,
09/28/2029, 1 mo. USD Term SOFR +
2.75%
|
188,449
|
|
|
|
|
|
5,599,249
|
|
|
Transportation - 0.1%
|
||
|
684,934
|
First Student Bidco, Inc. 5.95%,
08/15/2030, 3 mo. USD Term SOFR +
2.25%
|
684,934
|
|
|
|
Total Senior Floating Rate Interests
(cost $68,598,669)
|
$68,336,250
|
|
|
U.S. GOVERNMENT AGENCIES - 16.2%
|
|||
|
|
Mortgage-Backed Agencies - 16.2%
|
||
|
|
Federal Home Loan Mortgage Corp. - 1.1%
|
||
|
269,880
|
5.00%, 11/01/2039
|
$271,954
|
|
|
638,473
|
5.50%, 09/01/2040
|
654,230
|
|
|
125,000
|
7.90%, 05/25/2044, 30 day USD SOFR
Average + 4.25%(1)(2)
|
129,980
|
|
|
1,025,000
|
10.50%, 11/25/2051, 30 day USD
SOFR Average + 6.85%(1)(2)
|
1,084,059
|
|
|
880,000
|
10.75%, 01/25/2042, 30 day USD
SOFR Average + 7.10%(1)(2)
|
914,090
|
|
|
1,480,000
|
11.36%, 03/25/2050, 30 day USD
SOFR Average + 7.71%(1)(2)
|
1,768,216
|
|
|
710,000
|
11.45%, 11/25/2041, 30 day USD
SOFR Average + 7.80%(1)(2)
|
734,069
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 16.2% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 16.2% - (continued)
|
||
|
|
Federal Home Loan Mortgage Corp. - 1.1% - (continued)
|
||
|
$ 250,000
|
12.90%, 05/25/2043, 30 day USD
SOFR Average + 9.25%(1)(2)
|
$287,266
|
|
|
2,030,000
|
15.15%, 10/25/2050, 30 day USD
SOFR Average + 11.5%(1)(2)
|
2,780,773
|
|
|
|
|
|
8,624,637
|
|
|
Federal National Mortgage Association - 1.4%
|
||
|
464,725
|
3.00%, 07/25/2052(13)
|
83,928
|
|
|
206,419
|
4.00%, 09/25/2050(13)
|
41,305
|
|
|
662,017
|
4.50%, 03/25/2056, 30 day USD SOFR
Average + 0.85%(2)
|
662,113
|
|
|
319,133
|
5.00%, 07/25/2051
|
318,759
|
|
|
1,372,957
|
5.00%, 03/25/2055, 30 day USD SOFR
Average + 1.35%(2)
|
1,389,637
|
|
|
340,937
|
5.50%, 11/01/2039
|
348,386
|
|
|
7,987,292
|
5.50%, 02/01/2055
|
8,031,052
|
|
|
|
|
|
10,875,180
|
|
|
Government National Mortgage Association - 2.3%
|
||
|
30,748
|
2.50%, 12/20/2050
|
26,367
|
|
|
2,661,602
|
2.50%, 11/20/2051
|
2,282,266
|
|
|
9,200,000
|
3.00%, 05/20/2056(14)
|
8,192,129
|
|
|
2,080,000
|
4.00%, 05/20/2056(14)
|
1,940,454
|
|
|
635,000
|
4.50%, 05/20/2056(14)
|
612,279
|
|
|
2,975,000
|
5.50%, 05/20/2056(14)
|
2,995,906
|
|
|
1,475,000
|
5.50%, 06/20/2056(14)
|
1,483,291
|
|
|
|
|
|
17,532,692
|
|
|
Uniform Mortgage-Backed Security - 11.4%
|
||
|
4,355,000
|
2.50%, 05/01/2056(14)
|
3,646,019
|
|
|
2,385,000
|
3.50%, 05/01/2056(14)
|
2,170,675
|
|
|
1,265,000
|
4.00%, 05/01/2039(14)
|
1,232,378
|
|
|
1,620,000
|
4.50%, 06/01/2039(14)
|
1,606,269
|
|
|
1,735,000
|
4.50%, 05/01/2056(14)
|
1,668,733
|
|
|
2,085,000
|
4.50%, 06/01/2056(14)
|
2,003,899
|
|
|
1,850,000
|
5.00%, 05/01/2041(14)
|
1,863,402
|
|
|
12,980,000
|
5.00%, 05/01/2056(14)
|
12,786,471
|
|
|
5,335,000
|
5.50%, 05/01/2041(14)
|
5,449,285
|
|
|
50,166,000
|
5.50%, 05/01/2056(14)
|
50,415,543
|
|
|
4,000,000
|
6.50%, 05/01/2056(14)
|
4,149,878
|
|
|
|
|
|
86,992,552
|
|
|
Total U.S. Government Agencies
(cost $124,515,854)
|
|
$124,025,061
|
|
U.S. GOVERNMENT SECURITIES - 16.4%
|
|||
|
|
U.S. Treasury Securities - 16.4%
|
||
|
|
U.S. Treasury Bonds - 3.1%
|
||
|
1,240,000
|
2.25%, 08/15/2046
|
$800,430
|
|
|
5,640,000
|
2.50%, 02/15/2045
|
3,917,156
|
|
|
7,030,000
|
3.38%, 11/15/2048
|
5,446,877
|
|
|
470,000
|
3.63%, 08/15/2043
|
397,958
|
|
|
1,250,000
|
3.63%, 05/15/2053
|
989,404
|
|
|
1,615,000
|
4.13%, 08/15/2044
|
1,451,986
|
|
|
1,525,000
|
4.13%, 08/15/2053
|
1,320,733
|
|
|
2,125,000
|
4.50%, 11/15/2054
|
1,960,230
|
|
|
2,875,000
|
4.75%, 05/15/2055
|
2,764,155
|
|
|
864,900
|
4.75%, 02/15/2056
|
832,737
|
|
|
3,525,000
|
4.88%, 08/15/2045
|
3,481,488
|
|
|
|
|
|
23,363,154
|
|
|
U.S. Treasury Inflation-Indexed Bonds - 1.3%
|
||
|
2,173,188
|
0.25%, 02/15/2050(10)
|
1,231,327
|
|
|
3,829,945
|
0.63%, 02/15/2043(10)
|
2,831,703
|
|
|
2,516,005
|
0.75%, 02/15/2042(10)
|
1,946,580
|
|
|
1,443,011
|
0.75%, 02/15/2045(10)
|
1,038,860
|
|
|
|
57
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT SECURITIES - 16.4% - (continued)
|
|||
|
|
U.S. Treasury Securities - 16.4% - (continued)
|
||
|
|
U.S. Treasury Inflation-Indexed Bonds - 1.3% - (continued)
|
||
|
$ 599,843
|
1.00%, 02/15/2046(10)
|
$445,816
|
|
|
3,175,394
|
1.38%, 02/15/2044(10)
|
2,635,294
|
|
|
|
|
|
10,129,580
|
|
|
U.S. Treasury Notes - 12.0%
|
||
|
17,965,000
|
3.38%, 09/15/2028(15)(16)
|
17,751,666
|
|
|
2,250,000
|
3.38%, 05/15/2033
|
2,135,566
|
|
|
7,680,000
|
3.75%, 11/30/2032
|
7,490,100
|
|
|
2,000,000
|
3.88%, 08/15/2034(17)
|
1,940,781
|
|
|
7,510,000
|
4.00%, 01/31/2029
|
7,526,721
|
|
|
4,105,000
|
4.00%, 07/31/2032
|
4,070,043
|
|
|
7,725,000
|
4.00%, 02/15/2034
|
7,588,002
|
|
|
7,049,000
|
4.00%, 11/15/2035(16)
|
6,840,834
|
|
|
5,955,000
|
4.13%, 02/15/2036
|
5,829,387
|
|
|
11,385,000
|
4.25%, 11/15/2034(15)
|
11,328,075
|
|
|
6,010,000
|
4.25%, 05/15/2035(18)
|
5,965,160
|
|
|
11,300,000
|
4.25%, 08/15/2035
|
11,201,125
|
|
|
2,400,000
|
4.50%, 11/15/2033
|
2,438,719
|
|
|
|
|
|
92,106,179
|
|
|
Total U.S. Government Securities
(cost $127,472,175)
|
|
$125,598,913
|
|
COMMON STOCKS - 0.0%
|
|||
|
|
Automobiles & Components - 0.0%
|
||
|
83
|
Aptiv PLC*
|
$5,002
|
|
|
27
|
Versigent PLC*
|
944
|
|
|
|
|
|
5,946
|
|
|
Financial Services - 0.0%
|
||
|
33,932
|
Unifin Financiera SAB de CV*(19)(20)
|
1,875
|
|
|
250,000
|
Unifin Financiera SAB de CV*(9)(19)(20)
|
25,000
|
|
|
|
|
|
26,875
|
|
|
Food, Beverage & Tobacco - 0.0%
|
||
|
1,551
|
Luxco Co. Ltd.*
|
31,567
|
|
|
|
Health Care Equipment & Services - 0.0%
|
||
|
17
|
Becton Dickinson & Co.
|
2,534
|
|
|
|
Pharmaceuticals, Biotechnology & Life Sciences - 0.0%
|
||
|
2
|
Waters Corp.*
|
618
|
|
|
|
Semiconductors & Semiconductor Equipment - 0.0%
|
||
|
2,000
|
Intel Corp.*
|
188,960
|
|
|
|
Software & Services - 0.0%
|
||
|
320
|
Microsoft Corp.
|
130,489
|
|
|
7
|
Shopify, Inc. Class A*
|
848
|
|
|
|
|
|
131,337
|
|
|
Total Common Stocks
(cost $299,691)
|
|
$387,837
|
|
EXCHANGE-TRADED FUNDS - 2.5%
|
|||
|
|
Other Investment Pools & Funds - 2.5%
|
||
|
856,800
|
Invesco Senior Loan ETF
|
$17,632,944
|
|
|
43,000
|
SPDR Blackstone Senior Loan ETF (7)
|
1,745,800
|
|
|
|
Total Exchange-Traded Funds
(cost $19,198,908)
|
|
$19,378,744
|
|
PREFERRED STOCKS - 1.3%
|
|||
|
|
Banks - 0.2%
|
||
|
203
|
Bank of America Corp. Series L, 7.25%(21)
|
$248,222
|
|
|
17,326
|
Citigroup, Inc. Series II, 6.25%*(21)
|
439,214
|
|
|
24,775
|
Citizens Financial Group, Inc. Series I,
6.50%(21)
|
624,578
|
|
|
|
|
|
1,312,014
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
PREFERRED STOCKS - 1.3% - (continued)
|
|||
|
|
Capital Goods - 0.2%
|
||
|
17,593
|
Boeing Co. (Preference Shares), 6.00%
|
$1,270,215
|
|
|
|
Financial Services - 0.3%
|
||
|
1,987
|
Apollo Global Management, Inc.
(Preference Shares), 6.75%
|
130,606
|
|
|
14,787
|
Ares Management Corp. Series B, 6.75%
|
580,242
|
|
|
6,500
|
Capital One Financial Corp. Series I,
5.00%(21)
|
123,435
|
|
|
10,221
|
Capital One Financial Corp. Series N,
4.25%(7)(21)
|
165,274
|
|
|
9,630
|
Corebridge Financial, Inc. (Preference
Shares), 6.38%
|
230,638
|
|
|
8,167
|
KKR & Co., Inc. Series D, 6.25%(7)
|
362,451
|
|
|
19,194
|
Morgan Stanley Series Q, 6.63%(7)(21)
|
490,599
|
|
|
24,304
|
Synchrony Financial Series B, 8.25%(21)
|
639,195
|
|
|
|
|
|
2,722,440
|
|
|
Insurance - 0.1%
|
||
|
9,497
|
Brighthouse Financial, Inc. Series C,
5.38%(21)
|
125,645
|
|
|
16,629
|
Enstar Group Ltd. Series D, 7.00%(21)
|
382,467
|
|
|
|
|
|
508,112
|
|
|
Software & Services - 0.2%
|
||
|
34,019
|
Oracle Corp. Series D, 6.50%*
|
1,655,705
|
|
|
|
Telecommunication Services - 0.0%
|
||
|
11,650
|
T-Mobile USA, Inc. (Preference Shares),
5.50%*
|
258,630
|
|
|
7,807
|
T-Mobile USA, Inc. (Preference Shares),
5.50%*
|
173,237
|
|
|
|
|
|
431,867
|
|
|
Utilities - 0.3%
|
||
|
8,004
|
DTE Energy Co. Series H, 6.25%
|
198,179
|
|
|
4,700
|
NextEra Energy, Inc. (Preference Shares),
7.30%
|
277,488
|
|
|
11,000
|
NextEra Energy, Inc. (Preference Shares),
7.38%*
|
577,720
|
|
|
12,680
|
PG&E Corp. Series A, 6.00%
|
533,321
|
|
|
2,400
|
PPL Corp. (Preference Shares), 7.00%*
|
121,056
|
|
|
636
|
Sempra (Preference Shares), 5.75%
|
13,718
|
|
|
19,340
|
Southern Co. (Preference Shares), 6.50%
|
493,170
|
|
|
|
|
|
2,214,652
|
|
|
Total Preferred Stocks
(cost $10,068,619)
|
|
$10,115,005
|
|
WARRANTS - 0.0%
|
|||
|
|
Semiconductors & Semiconductor Equipment - 0.0%
|
||
|
1,500
|
Maxeon Solar Technologies Ltd. Expires
01/15/2028*(19)(20)
|
$—
|
|
|
|
Total Warrants
(cost $—)
|
|
$—
|
|
|
Total Long-Term Investments
(cost $865,708,143)
|
|
$864,006,198
|
|
SHORT-TERM INVESTMENTS - 2.7%
|
|||
|
|
Repurchase Agreements - 0.1%
|
||
|
$ 885,600
|
Fixed Income Clearing Corp.
Repurchase Agreement dated
04/30/2026 at 3.64%, due on
05/01/2026 with a maturity value of
$885,690; collateralized by
U.S. Treasury Note at 3.88%,
maturing 06/15/2028, with a market
value of $903,476
|
$885,600
|
|
|
|
58
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SHORT-TERM INVESTMENTS - 2.7% - (continued)
|
|||
|
|
Securities Lending Collateral - 2.6%
|
||
|
19,518,612
|
State Street Navigator Securities
Lending Government Money Market
Portfolio, 3.62%(22)
|
$19,518,612
|
|
|
|
Total Short-Term Investments
(cost $20,404,212)
|
$20,404,212
|
|
|
|
Total Investments Excluding
Purchased Options
(cost $886,112,355)
|
115.3
%
|
$884,410,410
|
|
|
Total Purchased Options
(cost $69,537)
|
0.0
%
|
$63,480
|
|
|
Total Investments
(cost $886,181,892)
|
115.3
%
|
$884,473,890
|
|
|
Other Assets and Liabilities
|
(15.3
)%
|
(117,434,656
)
|
|
|
Net Assets
|
100.0
%
|
$767,039,234
|
|
*
|
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 April 30, 2026, the aggregate value of these securities was
$303,350,345, representing 39.5% of net assets.
|
|
(2)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain
variable rate securities are not based on a published reference rate and spread but
are determined by the issuer or agent and are based on current market conditions;
these securities do not indicate a reference rate and spread in the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(3)
|
Security is a “step-up” bond where coupon increases or steps up at a
predetermined date. Rate shown is current coupon rate.
|
|
(4)
|
Security is a zero-coupon bond.
|
|
(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 April 30, 2026, the aggregate value
of these securities was $118,434,487, representing 15.4% of net assets.
|
|
(6)
|
Security has the ability to pay in kind (“PIK”) or pay income in cash. When
applicable, separate rates of such payments are disclosed.
|
|
(7)
|
Represents entire or partial securities on loan.
|
|
(8)
|
Perpetual maturity security. Maturity date shown is the next call date or final legal
maturity date, whichever comes first.
|
|
(9)
|
Share amount represents shares of the issuer previously held that resulted in
receipt of the escrow.
|
|
(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)
|
Senior floating rate interests generally pay interest rates which are periodically
adjusted by reference to a base short-term, floating lending rate plus a premium.
The base lending rates are primarily the Secured Overnight Financing Rate
("SOFR") and secondarily, the prime rate offered by one or more major
United States banks (the "Prime Rate"). Senior floating rate interests often require
prepayments from excess cash flows or permit the borrower to repay at its
election. The rate at which the borrower repays cannot be predicted with accuracy.
As a result, the actual remaining maturity may be substantially less than the stated
maturities shown. Base lending rates may be subject to a floor or cap. Unless
otherwise noted, the interest rate disclosed for these securities represents the rate
in effect as of April 30, 2026.
|
|
(12)
|
This security, or a portion of this security, has unfunded loan commitments. As of
April 30, 2026, the aggregate value of the unfunded commitment was $36,684,
which represents to 0.0% of total net assets.
|
|
(13)
|
Securities disclosed are interest-only strips.
|
|
(14)
|
Represents or includes a TBA transaction.
|
|
(15)
|
All, or a portion of the security, was pledged as collateral in connection with
centrally cleared swap contracts. As of April 30, 2026, the market value of
securities pledged was $2,079,875.
|
|
(16)
|
All, or a portion of the security, was pledged as collateral in connection with OTC
derivatives. As of April 30, 2026, the market value of securities pledged was
$1,012,429.
|
|
(17)
|
All, or a portion of the security, was pledged as collateral in connection with
futures contracts. As of April 30, 2026, the market value of securities pledged was
$9,052,658.
|
|
(18)
|
All, or a portion of the security, was pledged as collateral against open forward
foreign currency exchange contracts. As of April 30, 2026, the market value of
securities pledged was $64,515.
|
|
(19)
|
Investment in securities not registered under the Securities Act of 1933 (excluding
securities acquired pursuant to Rule 144A and Regulation S). At the end of the
period, the value of such restricted securities amounted to $26,875 or 0.0% of net
assets.
|
|
Period
Acquired
|
Security Name
|
Shares/
Par Value
|
Total Cost
|
Market Value
|
|
06/2024
|
Maxeon Solar
Technologies Ltd.
Expires 01/15/2028
Warrants
|
1,500
|
$—
|
$—
|
|
08/2024
|
Unifin Financiera SAB de
CV
|
250,000
|
7,500
|
25,000
|
|
08/2024
|
Unifin Financiera SAB de
CV
|
33,932
|
7,500
|
1,875
|
|
|
|
|
$15,000
|
$26,875
|
|
(20)
|
Investment valued using significant unobservable inputs.
|
|
(21)
|
Perpetual security with no stated maturity date.
|
|
(22)
|
Current yield as of period end.
|
|
|
59
|
|
|
OTC Option Contracts Outstanding at April 30, 2026
|
|||||||||||
|
Description
|
Counterparty
|
Exercise Price/
FX Rate/Rate
|
Expiration
Date
|
Number of
Contracts
|
Notional
Amount
|
Value†
|
Premiums
Paid
(Received)
by Fund
|
Unrealized
Appreciation/
(Depreciation)
|
|||
|
Purchased option contracts:
|
|||||||||||
|
Call
|
|||||||||||
|
Call USD vs. Put PLN
|
MSC
|
3.63
|
|
USD
|
10/23/2026
|
640,000
|
USD
|
640,000
|
$14,531
|
$15,343
|
$(812
)
|
|
Call USD vs. Put ZAR
|
BOA
|
16.13
|
|
USD
|
08/24/2026
|
346,000
|
USD
|
346,000
|
17,245
|
11,763
|
5,482
|
|
Total Call
|
$31,776
|
$27,106
|
$4,670
|
||||||||
|
Put
|
|||||||||||
|
Call CNY vs. Put USD
|
JPM
|
6.67
|
|
USD
|
09/29/2026
|
905,000
|
USD
|
905,000
|
$3,132
|
$3,529
|
$(397
)
|
|
Call CNY vs. Put USD
|
BOA
|
6.66
|
|
USD
|
09/30/2026
|
922,000
|
USD
|
922,000
|
2,883
|
3,294
|
(411
)
|
|
Call PLN vs. Put USD
|
MSC
|
3.63
|
|
USD
|
10/23/2026
|
640,000
|
USD
|
640,000
|
15,451
|
15,342
|
109
|
|
Call ZAR vs. Put USD
|
JPM
|
16.69
|
|
USD
|
07/07/2026
|
335,000
|
USD
|
335,000
|
6,713
|
9,668
|
(2,955
)
|
|
Call ZAR vs. Put USD
|
BOA
|
16.13
|
|
USD
|
08/24/2026
|
346,000
|
USD
|
346,000
|
3,525
|
10,598
|
(7,073
)
|
|
Total Put
|
$31,704
|
$42,431
|
$(10,727
)
|
||||||||
|
Total purchased OTC option contracts
|
$63,480
|
$69,537
|
$(6,057
)
|
||||||||
|
Written option contracts:
|
|||||||||||
|
Call
|
|||||||||||
|
Call USD vs. Put THB
|
BOA
|
30.70
|
|
USD
|
08/24/2026
|
(692,000
)
|
USD
|
(692,000
)
|
$(35,493
)
|
$(15,909
)
|
$(19,584
)
|
|
Call USD vs. Put THB
|
BOA
|
32.18
|
|
USD
|
10/23/2026
|
(768,000
)
|
USD
|
(768,000
)
|
(17,877
)
|
(20,397
)
|
2,520
|
|
Total Call
|
$(53,370
)
|
$(36,306
)
|
$(17,064
)
|
||||||||
|
Puts
|
|||||||||||
|
Call THB vs. Put USD
|
BOA
|
30.70
|
|
USD
|
08/24/2026
|
(692,000
)
|
USD
|
(692,000
)
|
$(3,315
)
|
$(14,809
)
|
$11,494
|
|
Call THB vs. Put USD
|
BOA
|
32.18
|
|
USD
|
10/23/2026
|
(768,000
)
|
USD
|
(768,000
)
|
(21,275
)
|
(18,760
)
|
(2,515
)
|
|
Call ZAR vs. Put USD
|
JPM
|
15.93
|
|
USD
|
07/07/2026
|
(335,000
)
|
USD
|
(335,000
)
|
(1,257
)
|
(3,353
)
|
2,096
|
|
Total puts
|
$(25,847
)
|
$(36,922
)
|
$11,075
|
||||||||
|
Total Written Option Contracts OTC option contracts
|
$(79,217
)
|
$(73,228
)
|
$(5,989
)
|
||||||||
|
Futures Contracts Outstanding at April 30, 2026
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Long position contracts:
|
||||
|
Australian 10-Year Bond Future
|
185
|
06/15/2026
|
$14,239,999
|
$(68,836
)
|
|
Canadian 10-Year Bond Future
|
161
|
06/19/2026
|
14,091,492
|
(108,713
)
|
|
Euro BUXL 30-Year Bond Future
|
44
|
06/08/2026
|
5,624,913
|
(122,957
)
|
|
Long Gilt Future
|
67
|
06/26/2026
|
7,883,413
|
(38,337
)
|
|
U.S. Treasury 5-Year Note Future
|
661
|
06/30/2026
|
71,279,555
|
(282,993
)
|
|
U.S. Treasury 10-Year Note Future
|
665
|
06/18/2026
|
73,544,844
|
(481,800
)
|
|
U.S. Treasury 10-Year Ultra Future
|
351
|
06/18/2026
|
39,613,641
|
(266,842
)
|
|
U.S. Treasury Long Bond Future
|
179
|
06/18/2026
|
20,199,031
|
(640,134
)
|
|
U.S. Treasury Ultra Bond Future
|
328
|
06/18/2026
|
37,730,250
|
(1,074,662
)
|
|
Total
|
|
|
|
$(3,085,274
)
|
|
Short position contracts:
|
||||
|
Euro-BOBL Future
|
(183)
|
06/08/2026
|
$(24,783,426
)
|
$435
|
|
Euro-BTP Italian Bond Future
|
(150)
|
06/08/2026
|
(20,579,979
)
|
(7,366
)
|
|
Euro-BUND Future
|
(113)
|
06/08/2026
|
(16,617,043
)
|
83,692
|
|
Euro-OAT Future
|
(136)
|
06/08/2026
|
(19,027,706
)
|
27,576
|
|
Euro-Schatz Future
|
(364)
|
06/08/2026
|
(45,154,191
)
|
66,238
|
|
U.S. Treasury 2-Year Note Future
|
(348)
|
06/30/2026
|
(72,079,500
)
|
144,025
|
|
Total
|
|
|
|
$314,600
|
|
Total futures contracts
|
$(2,770,674
)
|
|||
|
|
60
|
|
|
TBA Sale Commitments Outstanding at April 30, 2026
|
||||
|
Description
|
Principal
Amount
|
Maturity
Date
|
Market
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
Government National Mortgage Association, 2.50%
|
$1,550,000
|
05/20/2056
|
$(1,327,453
)
|
$12,388
|
|
Government National Mortgage Association, 4.00%
|
3,755,000
|
05/20/2056
|
(3,503,080
)
|
6,224
|
|
Government National Mortgage Association, 4.00%
|
1,675,000
|
06/20/2056
|
(1,561,775
)
|
14,557
|
|
Government National Mortgage Association, 4.50%
|
4,015,000
|
05/20/2056
|
(3,871,338
)
|
24,262
|
|
Government National Mortgage Association, 4.50%
|
2,000,000
|
06/23/2055
|
(1,926,719
)
|
16,719
|
|
Government National Mortgage Association, 5.00%
|
5,150,000
|
05/20/2056
|
(5,104,892
)
|
18,545
|
|
Uniform Mortgage-Backed Security, 2.00%
|
7,850,000
|
05/01/2056
|
(6,279,163
)
|
43,628
|
|
Uniform Mortgage-Backed Security, 2.50%
|
8,710,000
|
05/01/2056
|
(7,292,037
)
|
21,957
|
|
Uniform Mortgage-Backed Security, 2.50%
|
4,355,000
|
06/01/2056
|
(3,644,828
)
|
19,201
|
|
Uniform Mortgage-Backed Security, 3.00%
|
9,045,000
|
05/01/2056
|
(7,917,021
)
|
19,779
|
|
Uniform Mortgage-Backed Security, 3.50%
|
925,000
|
05/01/2056
|
(841,876
)
|
3,451
|
|
Uniform Mortgage-Backed Security, 4.00%
|
1,400,000
|
05/01/2056
|
(1,312,774
)
|
4,375
|
|
Uniform Mortgage-Backed Security, 6.00%
|
2,215,000
|
05/01/2056
|
(2,261,144
)
|
4,213
|
|
Uniform Mortgage-Backed Security, 6.50%
|
9,280,000
|
05/01/2056
|
(9,627,716
)
|
(22,519
)
|
|
Total TBA sale commitments (proceeds receivable $56,658,596)
|
$(56,471,816
)
|
$186,780
|
||
|
At April 30, 2026, the aggregate market value of TBA Sale Commitments represents (7.4)%
of total net assets.
|
||||
|
OTC Credit Default Swap Contracts Outstanding at April 30, 2026
|
||||||||||
|
Reference Entity
|
Counter-
party
|
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 single-name issues:
|
||||||||||
|
Buy protection:
|
||||||||||
|
BNP Paribas SA
|
GSC
|
EUR
|
1,175,000
|
(1.00%)
|
06/20/2031
|
Quarterly
|
$10,190
|
$—
|
$(5,790
)
|
$(15,980
)
|
|
Total OTC credit default swap contracts
|
$10,190
|
$—
|
$(5,790
)
|
$(15,980
)
|
||||||
|
(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.
|
|
OTC Total Return Swap Contracts Outstanding at April 30, 2026
|
||||||||||
|
Reference Entity
|
Counter-
party
|
Notional
Amount
|
Payments
received (paid)
by the Fund
|
Expiration
Date
|
Periodic
Payment
Frequency
|
Upfront
Premiums
Paid
|
Upfront
Premiums
Received
|
Value†
|
Unrealized
Appreciation/
Depreciation
|
|
|
Markit iBoxx USD Liquid Leveraged Loans Total
Return Index
|
MSC
|
USD
|
16,300,000
|
(3.62%
)
|
09/20/2026
|
Quarterly
|
$—
|
$—
|
$143,624
|
$143,624
|
|
Total OTC total return swap contracts
|
$—
|
$—
|
$143,624
|
$143,624
|
||||||
|
Centrally Cleared Credit Default Swap Contracts Outstanding at April 30, 2026
|
|||||||||
|
Reference Entity
|
Notional
Amount(1)
|
(Pay)/Receive
Fixed Rate
|
Expiration
Date
|
Periodic
Payment
Frequency
|
Upfront
Premiums
Paid
|
Upfront
Premiums
Received
|
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
Credit default swaps on indices:
|
|
||||||||
|
Buy protection:
|
|
||||||||
|
CDX.EM.S43.V1
|
USD
|
15,000
|
(1.00%)
|
06/20/2030
|
Quarterly
|
$251
|
$—
|
$58
|
$(193
)
|
|
CDX.NA.HY.S46.V1
|
USD
|
10,730,000
|
(5.00%)
|
06/20/2031
|
Quarterly
|
—
|
(703,982
)
|
(825,678
)
|
(121,696
)
|
|
ITRAXX-XOVER S44.V1
|
EUR
|
435,000
|
(5.00%)
|
12/20/2030
|
Quarterly
|
—
|
(39,948
)
|
(52,947
)
|
(12,999
)
|
|
Total
|
$251
|
$(743,930
)
|
$(878,567
)
|
$(134,888
)
|
|||||
|
|
61
|
|
|
Centrally Cleared Credit Default Swap Contracts Outstanding at April 30, 2026 – (continued)
|
|||||||||
|
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 single-name
issues:
|
|
|
|
|
|
|
|
|
|
|
Buy protection:
|
|
||||||||
|
Barclays PLC
|
EUR
|
850,000
|
(1.00%)
|
06/20/2031
|
Quarterly
|
$7,237
|
$—
|
$4,740
|
$(2,497
)
|
|
Total
|
|
|
|
|
|
$7,237
|
$—
|
$4,740
|
$(2,497
)
|
|
Total centrally cleared credit default swap contracts
|
$7,488
|
$(743,930
)
|
$(873,827
)
|
$(137,385
)
|
|||||
|
(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 April 30, 2026
|
|||||||||
|
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)
|
|
|
1 Mo. MXN TIIE
|
7.09% Fixed
|
MXN
|
17,636,000
|
03/10/2028
|
Lunar
|
$124
|
$—
|
$(1,954
)
|
$(2,078
)
|
|
1 Mo. MXN TIIE
|
7.30% Fixed
|
MXN
|
11,703,000
|
03/14/2028
|
Lunar
|
—
|
(55
)
|
1,234
|
1,289
|
|
7.75% Fixed
|
1 Mo. MXN TIIE
|
MXN
|
23,332,000
|
04/23/2031
|
Lunar
|
—
|
—
|
6,002
|
6,002
|
|
8.04% Fixed
|
1 Mo. MXN TIIE
|
MXN
|
1,771,000
|
03/08/2033
|
Lunar
|
—
|
(25
)
|
12
|
37
|
|
12 Mo. USD SOFR
|
3.44% Fixed
|
USD
|
567,000
|
03/17/2027
|
Annual
|
—
|
(101
)
|
(1,081
)
|
(980
)
|
|
3.47% Fixed
|
12 Mo. USD SOFR
|
USD
|
1,725,000
|
08/31/2030
|
Annual
|
—
|
(1
)
|
14,920
|
14,921
|
|
3.60% Fixed
|
12 Mo. USD SOFR
|
USD
|
1,475,000
|
11/15/2032
|
Annual
|
—
|
—
|
16,155
|
16,155
|
|
3.63% Fixed
|
12 Mo. USD SOFR
|
USD
|
1,250,000
|
11/15/2032
|
Annual
|
—
|
—
|
11,261
|
11,261
|
|
4.16% Fixed
|
12 Mo. USD SOFR
|
USD
|
2,275,000
|
03/19/2045
|
Annual
|
—
|
(37,721
)
|
15,216
|
52,937
|
|
2.88% Fixed
|
12 Mo. USD SOFR
|
USD
|
190,000
|
03/15/2053
|
Annual
|
1,979
|
—
|
41,332
|
39,353
|
|
3.25% Fixed
|
12 Mo. USD SOFR
|
USD
|
125,000
|
06/21/2053
|
Annual
|
—
|
(1,183
)
|
20,471
|
21,654
|
|
3.59% Fixed
|
12 Mo. USD SOFR
|
USD
|
4,665,000
|
09/20/2053
|
Annual
|
407,493
|
—
|
485,089
|
77,596
|
|
3.75% Fixed
|
12 Mo. USD SOFR
|
USD
|
215,000
|
12/18/2054
|
Annual
|
303
|
—
|
16,428
|
16,125
|
|
3 Mo. COP CPIBR
|
11.47% Fixed
|
COP
|
1,127,756,000
|
06/17/2036
|
Quarterly
|
—
|
—
|
393
|
393
|
|
3 Mo. THB THOR
|
1.87% Fixed
|
THB
|
12,423,000
|
06/17/2036
|
Quarterly
|
—
|
(115
)
|
(8,859
)
|
(8,744
)
|
|
3 Mo. ZAR JIBAR
|
7.75% Fixed
|
ZAR
|
2,657,000
|
06/17/2033
|
Quarterly
|
—
|
(26
)
|
(1,291
)
|
(1,265
)
|
|
3 Mo. ZAR JIBAR
|
6.85% Fixed
|
ZAR
|
7,065,000
|
06/17/2033
|
Quarterly
|
15
|
—
|
(23,913
)
|
(23,928
)
|
|
3 Mo. ZAR JIBAR
|
8.19% Fixed
|
ZAR
|
4,704,000
|
06/17/2036
|
Quarterly
|
—
|
—
|
—
|
—
|
|
3 Mo. ZAR JIBAR
|
8.10% Fixed
|
ZAR
|
6,203,000
|
06/17/2036
|
Quarterly
|
—
|
(134
)
|
(2,753
)
|
(2,619
)
|
|
3 Mo. ZAR JIBAR
|
7.88% Fixed
|
ZAR
|
6,074,000
|
06/17/2036
|
Quarterly
|
—
|
—
|
(8,060
)
|
(8,060
)
|
|
3 Mo. ZAR JIBAR
|
7.18% Fixed
|
ZAR
|
7,137,000
|
06/17/2036
|
Quarterly
|
—
|
(45
)
|
(30,138
)
|
(30,093
)
|
|
4.68% Fixed
|
6 Mo. CLP CLICP
|
CLP
|
2,027,890,000
|
03/17/2027
|
At Maturity
|
—
|
—
|
2,912
|
2,912
|
|
6 mo. CZK PRIBOR
|
3.59% Fixed
|
CZK
|
4,479,000
|
06/17/2031
|
Annual
|
—
|
(8
)
|
(7,969
)
|
(7,961
)
|
|
6 mo. CZK PRIBOR
|
4.44% Fixed
|
CZK
|
3,014,000
|
06/17/2033
|
Annual
|
—
|
—
|
(143
)
|
(143
)
|
|
6 Mo. HUF BIBOR
|
6.10% Fixed
|
HUF
|
50,439,000
|
06/17/2036
|
Annual
|
—
|
(19
)
|
5,003
|
5,022
|
|
6.40% Fixed
|
6 mo. INR MIBOR
|
INR
|
35,449,000
|
06/17/2031
|
Semi-Annual
|
—
|
—
|
4,003
|
4,003
|
|
6 Mo. PLN WIBOR
|
3.95% Fixed
|
PLN
|
176,000
|
06/17/2033
|
Annual
|
—
|
—
|
(2,004
)
|
(2,004
)
|
|
4.59% Fixed
|
6 Mo. PLN WIBOR
|
PLN
|
371,000
|
06/17/2036
|
Annual
|
10
|
—
|
1,583
|
1,573
|
|
BZDIOVRA
|
13.47% Fixed
|
BRL
|
6,958,014
|
01/03/2028
|
At Maturity
|
100
|
—
|
(6,497
)
|
(6,597
)
|
|
BZDIOVRA
|
13.77% Fixed
|
BRL
|
603,783
|
01/02/2029
|
At Maturity
|
—
|
—
|
372
|
372
|
|
BZDIOVRA
|
12.94% Fixed
|
BRL
|
1,960,160
|
01/02/2029
|
At Maturity
|
33
|
—
|
(6,532
)
|
(6,565
)
|
|
BZDIOVRA
|
13.18% Fixed
|
BRL
|
2,309,908
|
01/02/2029
|
At Maturity
|
—
|
—
|
(7,728
)
|
(7,728
)
|
|
BZDIOVRA
|
13.56% Fixed
|
BRL
|
852,167
|
01/02/2031
|
At Maturity
|
34
|
—
|
393
|
359
|
|
Total centrally cleared interest rate swaps contracts
|
$410,091
|
$(39,433
)
|
$533,857
|
$163,199
|
|||||
|
Foreign Currency Contracts Outstanding at April 30, 2026
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
277,483,000
|
ARS
|
168,057
|
USD
|
CBK
|
07/14/2026
|
$24,159
|
|
64,517,000
|
ARS
|
39,579
|
USD
|
BNP
|
07/14/2026
|
5,113
|
|
198,425,000
|
ARS
|
124,171
|
USD
|
BNP
|
09/14/2026
|
7,695
|
|
142,525,000
|
ARS
|
88,967
|
USD
|
CBK
|
09/14/2026
|
5,750
|
|
170,670,000
|
ARS
|
95,882
|
USD
|
CBK
|
10/16/2026
|
15,126
|
|
180,000
|
AUD
|
127,631
|
USD
|
UBS
|
06/17/2026
|
1,663
|
|
80,000
|
AUD
|
56,891
|
USD
|
JPM
|
06/17/2026
|
573
|
|
8,873,000
|
BRL
|
1,678,154
|
USD
|
GSC
|
06/02/2026
|
87,717
|
|
|
62
|
|
|
Foreign Currency Contracts Outstanding at April 30, 2026 – (continued)
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
3,379,000
|
BRL
|
638,473
|
USD
|
MSC
|
06/02/2026
|
$34,004
|
|
1,250,000
|
BRL
|
238,374
|
USD
|
CBK
|
06/02/2026
|
10,396
|
|
1,505,000
|
BRL
|
289,954
|
USD
|
BOA
|
06/02/2026
|
9,565
|
|
955,000
|
BRL
|
189,447
|
USD
|
BNP
|
06/02/2026
|
614
|
|
160,000
|
CAD
|
116,948
|
USD
|
JPM
|
06/17/2026
|
844
|
|
221,059,000
|
CLP
|
243,096
|
USD
|
GSC
|
06/17/2026
|
1,717
|
|
72,000,000
|
CLP
|
78,869
|
USD
|
MSC
|
06/17/2026
|
868
|
|
17,700,000
|
CLP
|
19,917
|
USD
|
BOA
|
06/17/2026
|
(315
)
|
|
274,400,000
|
CLP
|
304,667
|
USD
|
CBK
|
06/17/2026
|
(782
)
|
|
5,818,000
|
CNH
|
850,867
|
USD
|
UBS
|
06/17/2026
|
3,582
|
|
3,500,000
|
CNH
|
510,539
|
USD
|
SCB
|
06/17/2026
|
3,482
|
|
2,587,000
|
CNH
|
378,290
|
USD
|
HSBC
|
06/17/2026
|
1,644
|
|
999,000
|
CNH
|
145,451
|
USD
|
JPM
|
06/17/2026
|
1,265
|
|
319,000
|
CNH
|
46,369
|
USD
|
CBK
|
06/17/2026
|
481
|
|
1,187,000
|
CNH
|
174,503
|
USD
|
BOA
|
06/17/2026
|
(177
)
|
|
1,281,000
|
CNH
|
187,527
|
USD
|
JPM
|
07/13/2026
|
949
|
|
1,855,000
|
CNH
|
272,034
|
USD
|
BOA
|
07/15/2026
|
937
|
|
1,114,900,000
|
COP
|
297,542
|
USD
|
CBK
|
06/17/2026
|
6,290
|
|
658,500,000
|
COP
|
175,020
|
USD
|
GSC
|
06/17/2026
|
4,434
|
|
678,100,000
|
COP
|
184,155
|
USD
|
MSC
|
06/17/2026
|
640
|
|
201,900,000
|
COP
|
54,879
|
USD
|
BOA
|
06/17/2026
|
142
|
|
8,991,000
|
CZK
|
431,451
|
USD
|
DEUT
|
06/17/2026
|
1,620
|
|
6,817,000
|
CZK
|
326,839
|
USD
|
UBS
|
06/17/2026
|
1,516
|
|
12,690,000
|
CZK
|
610,772
|
USD
|
GSC
|
06/17/2026
|
468
|
|
1,090,000
|
CZK
|
52,414
|
USD
|
BCLY
|
06/17/2026
|
88
|
|
4,620,000
|
CZK
|
224,016
|
USD
|
CBK
|
06/17/2026
|
(1,483
)
|
|
15,690,000
|
CZK
|
757,379
|
USD
|
BNP
|
06/17/2026
|
(1,637
)
|
|
5,180,000
|
DOP
|
81,143
|
USD
|
JPM
|
07/13/2026
|
4,829
|
|
20,030,000
|
EGP
|
367,484
|
USD
|
JPM
|
06/17/2026
|
(1,580
)
|
|
5,110,000
|
EGP
|
97,747
|
USD
|
CBK
|
10/05/2026
|
(8,462
)
|
|
7,220,000
|
EGP
|
136,060
|
USD
|
BOA
|
10/05/2026
|
(9,907
)
|
|
2,200
|
EUR
|
2,575
|
USD
|
BNP
|
05/29/2026
|
9
|
|
795,000
|
EUR
|
921,158
|
USD
|
JPM
|
06/17/2026
|
13,493
|
|
428,000
|
EUR
|
498,145
|
USD
|
DEUT
|
06/17/2026
|
5,038
|
|
127,000
|
EUR
|
147,119
|
USD
|
MSC
|
06/17/2026
|
2,190
|
|
239,000
|
EUR
|
280,329
|
USD
|
SSG
|
06/17/2026
|
654
|
|
487,000
|
EUR
|
571,988
|
USD
|
CBK
|
06/17/2026
|
559
|
|
21,000
|
EUR
|
24,224
|
USD
|
SCB
|
06/17/2026
|
465
|
|
492,000
|
EUR
|
578,065
|
USD
|
UBS
|
06/17/2026
|
359
|
|
223,000
|
EUR
|
262,336
|
USD
|
SGG
|
06/17/2026
|
(164
)
|
|
136,000
|
EUR
|
160,208
|
USD
|
BOA
|
07/07/2026
|
(179
)
|
|
1,000
|
GBP
|
1,348
|
USD
|
GSC
|
05/29/2026
|
11
|
|
139,000
|
GBP
|
186,025
|
USD
|
BCLY
|
06/17/2026
|
2,838
|
|
204,547,000
|
HUF
|
618,005
|
USD
|
DEUT
|
06/17/2026
|
38,304
|
|
185,134,000
|
HUF
|
567,474
|
USD
|
MSC
|
06/17/2026
|
26,547
|
|
90,300,000
|
HUF
|
289,010
|
USD
|
GSC
|
06/17/2026
|
727
|
|
61,364,000
|
HUF
|
196,464
|
USD
|
SSG
|
06/17/2026
|
428
|
|
54,414,000
|
HUF
|
175,198
|
USD
|
JPM
|
06/17/2026
|
(606
)
|
|
462,000,000
|
IDR
|
26,934
|
USD
|
MSC
|
06/17/2026
|
(307
)
|
|
4,146,000,000
|
IDR
|
240,543
|
USD
|
GSC
|
06/17/2026
|
(1,591
)
|
|
15,451,000,000
|
IDR
|
911,297
|
USD
|
SSG
|
06/17/2026
|
(20,789
)
|
|
21,500,620,000
|
IDR
|
1,260,566
|
USD
|
BOA
|
06/17/2026
|
(21,393
)
|
|
595,000
|
ILS
|
201,607
|
USD
|
CBK
|
06/17/2026
|
(9
)
|
|
31,710,000
|
INR
|
335,973
|
USD
|
GSC
|
06/17/2026
|
(3,298
)
|
|
55,090,000
|
INR
|
590,229
|
USD
|
SSG
|
06/17/2026
|
(12,272
)
|
|
111,702,000
|
INR
|
1,198,536
|
USD
|
BOA
|
06/17/2026
|
(26,655
)
|
|
185,180,000
|
KRW
|
123,800
|
USD
|
JPM
|
06/17/2026
|
1,221
|
|
212,450,000
|
KRW
|
143,598
|
USD
|
BOA
|
06/17/2026
|
(167
)
|
|
164,990,000
|
KRW
|
112,161
|
USD
|
MSC
|
06/17/2026
|
(771
)
|
|
647,570,000
|
KRW
|
440,221
|
USD
|
GSC
|
06/17/2026
|
(3,025
)
|
|
109,100,000
|
KZT
|
207,956
|
USD
|
BOA
|
05/26/2026
|
25,253
|
|
22,800,000
|
KZT
|
42,944
|
USD
|
CBK
|
05/26/2026
|
5,793
|
|
136,200,000
|
KZT
|
269,010
|
USD
|
BOA
|
06/17/2026
|
19,871
|
|
20,761,000
|
MXN
|
1,156,527
|
USD
|
BOA
|
06/17/2026
|
24,161
|
|
4,870,000
|
MXN
|
268,445
|
USD
|
GSC
|
06/17/2026
|
8,514
|
|
|
63
|
|
|
Foreign Currency Contracts Outstanding at April 30, 2026 – (continued)
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
5,666,000
|
MXN
|
317,243
|
USD
|
UBS
|
06/17/2026
|
$4,985
|
|
700,000
|
MXN
|
38,452
|
USD
|
CBK
|
06/17/2026
|
1,357
|
|
3,431,000
|
MXN
|
194,974
|
USD
|
SCB
|
06/17/2026
|
149
|
|
220,000
|
MXN
|
12,653
|
USD
|
MSC
|
06/17/2026
|
(142
)
|
|
2,690,000
|
MXN
|
155,384
|
USD
|
DEUT
|
06/17/2026
|
(2,402
)
|
|
647,000
|
MXN
|
36,035
|
USD
|
MSC
|
07/28/2026
|
632
|
|
217,000
|
MXN
|
12,050
|
USD
|
BOA
|
07/28/2026
|
248
|
|
808,000
|
MXN
|
44,690
|
USD
|
MSC
|
09/08/2026
|
936
|
|
97,000
|
MXN
|
5,366
|
USD
|
JPM
|
09/08/2026
|
112
|
|
80,000
|
MYR
|
20,258
|
USD
|
BNP
|
06/18/2026
|
(87
)
|
|
901,000
|
MYR
|
228,744
|
USD
|
SCB
|
06/18/2026
|
(1,568
)
|
|
1,240,000
|
MYR
|
314,915
|
USD
|
DEUT
|
06/18/2026
|
(2,264
)
|
|
91,895,000
|
NGN
|
59,021
|
USD
|
BOA
|
06/08/2026
|
6,677
|
|
28,122,000
|
NGN
|
17,984
|
USD
|
CBK
|
06/08/2026
|
2,121
|
|
140,269,000
|
NGN
|
99,169
|
USD
|
BOA
|
06/17/2026
|
715
|
|
74,748,000
|
NGN
|
52,345
|
USD
|
CBK
|
06/26/2026
|
672
|
|
215,000
|
NZD
|
125,970
|
USD
|
DEUT
|
06/17/2026
|
819
|
|
110,000
|
NZD
|
64,744
|
USD
|
UBS
|
06/17/2026
|
124
|
|
95,000
|
NZD
|
56,160
|
USD
|
JPM
|
06/17/2026
|
(137
)
|
|
1,115,000
|
PEN
|
315,596
|
USD
|
CBK
|
06/17/2026
|
(26
)
|
|
1,540,000
|
PEN
|
443,408
|
USD
|
GSC
|
06/17/2026
|
(7,553
)
|
|
2,450,000
|
PEN
|
709,035
|
USD
|
JPM
|
06/17/2026
|
(15,630
)
|
|
5,168,000
|
PLN
|
1,401,834
|
USD
|
GSC
|
06/17/2026
|
21,963
|
|
2,615,000
|
PLN
|
705,899
|
USD
|
WFB
|
06/17/2026
|
14,541
|
|
150,000
|
PLN
|
40,063
|
USD
|
BOA
|
06/17/2026
|
1,263
|
|
260,000
|
PLN
|
70,782
|
USD
|
DEUT
|
06/17/2026
|
849
|
|
580,000
|
PLN
|
160,115
|
USD
|
SGG
|
06/17/2026
|
(323
)
|
|
1,422,000
|
RON
|
319,738
|
USD
|
CBK
|
06/17/2026
|
435
|
|
390,000
|
RON
|
87,631
|
USD
|
SGG
|
06/17/2026
|
181
|
|
85,000
|
RON
|
19,617
|
USD
|
SCB
|
06/17/2026
|
(478
)
|
|
1,692,000
|
RON
|
383,257
|
USD
|
GSC
|
06/17/2026
|
(2,292
)
|
|
280,000
|
SGD
|
220,036
|
USD
|
BOA
|
06/17/2026
|
576
|
|
185,000
|
SGD
|
145,976
|
USD
|
DEUT
|
06/17/2026
|
(215
)
|
|
1,370,000
|
THB
|
41,527
|
USD
|
JPM
|
06/17/2026
|
666
|
|
2,570,000
|
THB
|
78,786
|
USD
|
GSC
|
06/17/2026
|
364
|
|
2,470,000
|
THB
|
75,896
|
USD
|
MSC
|
06/17/2026
|
174
|
|
450,000
|
THB
|
14,025
|
USD
|
CBK
|
06/17/2026
|
(166
)
|
|
2,400,000
|
THB
|
74,977
|
USD
|
DEUT
|
06/17/2026
|
(1,062
)
|
|
7,280,000
|
THB
|
227,642
|
USD
|
BNP
|
06/17/2026
|
(3,436
)
|
|
42,020,000
|
THB
|
1,317,353
|
USD
|
BCLY
|
06/17/2026
|
(23,238
)
|
|
126,000
|
THB
|
4,098
|
USD
|
BOA
|
08/26/2026
|
(195
)
|
|
1,416,000
|
THB
|
43,907
|
USD
|
BOA
|
10/27/2026
|
199
|
|
11,975,000
|
TRY
|
261,863
|
USD
|
JPM
|
05/11/2026
|
504
|
|
24,345,000
|
TRY
|
503,219
|
USD
|
HSBC
|
06/17/2026
|
11,448
|
|
14,088,000
|
TRY
|
291,713
|
USD
|
BCLY
|
06/17/2026
|
6,115
|
|
10,019,000
|
TRY
|
207,673
|
USD
|
CBK
|
06/17/2026
|
4,134
|
|
1,795,000
|
TRY
|
37,998
|
USD
|
MSC
|
06/17/2026
|
(50
)
|
|
26,065,000
|
TRY
|
464,651
|
USD
|
BNP
|
12/16/2026
|
2,080
|
|
11,975,000
|
TRY
|
209,959
|
USD
|
BCLY
|
02/10/2027
|
(5,406
)
|
|
26,065,000
|
TRY
|
432,966
|
USD
|
BCLY
|
03/17/2027
|
(803
)
|
|
11,700,000
|
ZAR
|
694,134
|
USD
|
HSBC
|
06/17/2026
|
3,903
|
|
2,867,000
|
ZAR
|
168,095
|
USD
|
MSC
|
06/17/2026
|
2,954
|
|
2,316,000
|
ZAR
|
135,393
|
USD
|
CBK
|
06/17/2026
|
2,783
|
|
2,580,000
|
ZAR
|
153,048
|
USD
|
DEUT
|
06/17/2026
|
879
|
|
500,000
|
ZAR
|
30,026
|
USD
|
BCLY
|
06/17/2026
|
(196
)
|
|
3,850,000
|
ZAR
|
230,128
|
USD
|
BOA
|
06/17/2026
|
(433
)
|
|
18,282,000
|
ZAR
|
1,097,467
|
USD
|
GSC
|
06/17/2026
|
(6,738
)
|
|
53,064
|
USD
|
84,903,000
|
ARS
|
CBK
|
07/14/2026
|
(5,749
)
|
|
53,064
|
USD
|
84,902,000
|
ARS
|
BOA
|
07/14/2026
|
(5,749
)
|
|
46,018
|
USD
|
65,000
|
AUD
|
NWM
|
06/17/2026
|
(671
)
|
|
110,435
|
USD
|
155,000
|
AUD
|
DEUT
|
06/17/2026
|
(901
)
|
|
121,727
|
USD
|
175,000
|
AUD
|
JPM
|
06/17/2026
|
(3,976
)
|
|
121,741
|
USD
|
610,000
|
BRL
|
GSC
|
06/02/2026
|
342
|
|
171,093
|
USD
|
860,000
|
BRL
|
BOA
|
06/02/2026
|
(61
)
|
|
556,708
|
USD
|
2,945,000
|
BRL
|
CBK
|
06/02/2026
|
(29,394
)
|
|
|
64
|
|
|
Foreign Currency Contracts Outstanding at April 30, 2026 – (continued)
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
828,224
|
USD
|
4,409,000
|
BRL
|
SSG
|
06/02/2026
|
$(49,239
)
|
|
88,580
|
USD
|
120,000
|
CAD
|
BNP
|
06/17/2026
|
236
|
|
36,857
|
USD
|
50,000
|
CAD
|
SCB
|
06/17/2026
|
47
|
|
87,272
|
USD
|
120,000
|
CAD
|
TDB
|
06/17/2026
|
(1,072
)
|
|
226,750
|
USD
|
206,100,000
|
CLP
|
BOA
|
06/17/2026
|
(1,496
)
|
|
122,387
|
USD
|
113,000,000
|
CLP
|
GSC
|
06/17/2026
|
(2,755
)
|
|
268,577
|
USD
|
1,828,000
|
CNH
|
BNP
|
06/17/2026
|
111
|
|
164,216
|
USD
|
1,123,000
|
CNH
|
JPM
|
06/17/2026
|
(711
)
|
|
708,243
|
USD
|
4,852,000
|
CNH
|
CBK
|
06/17/2026
|
(4,336
)
|
|
93,777
|
USD
|
648,000
|
CNH
|
JPM
|
07/13/2026
|
(1,565
)
|
|
133,362
|
USD
|
921,000
|
CNH
|
BOA
|
07/15/2026
|
(2,167
)
|
|
193,905
|
USD
|
1,317,000
|
CNH
|
JPM
|
10/08/2026
|
(1,042
)
|
|
194,962
|
USD
|
1,322,000
|
CNH
|
BOA
|
10/09/2026
|
(738
)
|
|
462,903
|
USD
|
1,672,900,000
|
COP
|
GSC
|
06/17/2026
|
7,007
|
|
144,140
|
USD
|
529,600,000
|
COP
|
BNP
|
06/17/2026
|
(186
)
|
|
201,484
|
USD
|
760,200,000
|
COP
|
BOA
|
06/17/2026
|
(5,685
)
|
|
863,283
|
USD
|
3,249,100,000
|
COP
|
CBK
|
06/17/2026
|
(22,158
)
|
|
386,157
|
USD
|
8,230,000
|
CZK
|
GSC
|
06/17/2026
|
(10,258
)
|
|
598,991
|
USD
|
12,690,000
|
CZK
|
HSBC
|
06/17/2026
|
(12,250
)
|
|
890,701
|
USD
|
18,789,000
|
CZK
|
BNP
|
06/17/2026
|
(14,312
)
|
|
85,155
|
USD
|
5,180,000
|
DOP
|
JPM
|
07/13/2026
|
(818
)
|
|
806,446
|
USD
|
686,819
|
EUR
|
CBK
|
05/29/2026
|
(360
)
|
|
13,897,360
|
USD
|
11,872,900
|
EUR
|
BNP
|
05/29/2026
|
(49,756
)
|
|
29,488,700
|
USD
|
25,202,901
|
EUR
|
JPM
|
05/29/2026
|
(117,191
)
|
|
132,668
|
USD
|
113,000
|
EUR
|
GSC
|
06/17/2026
|
(182
)
|
|
407,846
|
USD
|
348,000
|
EUR
|
SCB
|
06/17/2026
|
(1,284
)
|
|
569,557
|
USD
|
486,000
|
EUR
|
UBS
|
06/17/2026
|
(1,815
)
|
|
377,743
|
USD
|
323,000
|
EUR
|
JPM
|
06/17/2026
|
(1,997
)
|
|
4,803,987
|
USD
|
4,117,000
|
EUR
|
CBK
|
06/17/2026
|
(36,212
)
|
|
4,120,969
|
USD
|
3,561,000
|
EUR
|
TDB
|
06/17/2026
|
(65,562
)
|
|
24,061,764
|
USD
|
20,711,000
|
EUR
|
DEUT
|
06/17/2026
|
(287,363
)
|
|
248,884
|
USD
|
215,000
|
EUR
|
BOA
|
07/07/2026
|
(4,103
)
|
|
2,363,630
|
USD
|
1,753,120
|
GBP
|
GSC
|
05/29/2026
|
(18,531
)
|
|
102,571
|
USD
|
77,000
|
GBP
|
DEUT
|
06/17/2026
|
(2,051
)
|
|
597,356
|
USD
|
446,000
|
GBP
|
SSG
|
06/17/2026
|
(8,636
)
|
|
1,948,021
|
USD
|
1,455,000
|
GBP
|
WEST
|
06/17/2026
|
(28,925
)
|
|
549,946
|
USD
|
4,303,000
|
HKD
|
DEUT
|
05/29/2026
|
3
|
|
335,983
|
USD
|
104,100,000
|
HUF
|
GSC
|
06/17/2026
|
1,968
|
|
166,828
|
USD
|
51,600,000
|
HUF
|
SCB
|
06/17/2026
|
1,265
|
|
159,252
|
USD
|
49,300,000
|
HUF
|
BOA
|
06/17/2026
|
1,068
|
|
64,469
|
USD
|
20,100,000
|
HUF
|
CBK
|
06/17/2026
|
(24
)
|
|
61,717
|
USD
|
19,300,000
|
HUF
|
SGG
|
06/17/2026
|
(209
)
|
|
196,337
|
USD
|
61,900,000
|
HUF
|
DEUT
|
06/17/2026
|
(2,274
)
|
|
38,459
|
USD
|
13,000,000
|
HUF
|
BCLY
|
06/17/2026
|
(3,253
)
|
|
251,048
|
USD
|
82,893,000
|
HUF
|
MSC
|
06/17/2026
|
(14,922
)
|
|
307,357
|
USD
|
104,700,000
|
HUF
|
SSG
|
06/17/2026
|
(28,583
)
|
|
368,272
|
USD
|
6,276,000,000
|
IDR
|
BOA
|
06/17/2026
|
6,559
|
|
148,763
|
USD
|
2,526,000,000
|
IDR
|
GSC
|
06/17/2026
|
3,179
|
|
207,267
|
USD
|
3,552,000,000
|
IDR
|
SSG
|
06/17/2026
|
2,550
|
|
129,706
|
USD
|
2,212,000,000
|
IDR
|
BCLY
|
06/17/2026
|
2,218
|
|
47,911
|
USD
|
150,000
|
ILS
|
HSBC
|
06/17/2026
|
(2,912
)
|
|
137,929
|
USD
|
430,000
|
ILS
|
SCB
|
06/17/2026
|
(7,763
)
|
|
182,529
|
USD
|
575,000
|
ILS
|
CBK
|
06/17/2026
|
(12,293
)
|
|
379,397
|
USD
|
35,480,000
|
INR
|
SSG
|
06/17/2026
|
7,172
|
|
300,622
|
USD
|
28,030,000
|
INR
|
MSC
|
06/17/2026
|
6,555
|
|
314,530
|
USD
|
29,670,000
|
INR
|
BNP
|
06/17/2026
|
3,257
|
|
178,545
|
USD
|
16,710,000
|
INR
|
BOA
|
06/17/2026
|
3,238
|
|
133,754
|
USD
|
12,670,000
|
INR
|
GSC
|
06/17/2026
|
831
|
|
162,569
|
USD
|
239,610,000
|
KRW
|
BNP
|
06/17/2026
|
800
|
|
152,695
|
USD
|
228,670,000
|
KRW
|
BOA
|
06/17/2026
|
(1,687
)
|
|
146,805
|
USD
|
68,000,000
|
KZT
|
GSC
|
05/26/2026
|
1,451
|
|
39,884
|
USD
|
18,500,000
|
KZT
|
JPM
|
05/26/2026
|
339
|
|
86,641
|
USD
|
45,400,000
|
KZT
|
CBK
|
05/26/2026
|
(10,404
)
|
|
129,529
|
USD
|
60,600,000
|
KZT
|
GSC
|
06/17/2026
|
996
|
|
223,073
|
USD
|
110,700,000
|
KZT
|
CBK
|
06/17/2026
|
(11,722
)
|
|
|
65
|
|
|
Foreign Currency Contracts Outstanding at April 30, 2026 – (continued)
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
976,704
|
USD
|
17,054,000
|
MXN
|
MSC
|
06/17/2026
|
$6,834
|
|
228,188
|
USD
|
3,990,000
|
MXN
|
BCLY
|
06/17/2026
|
1,275
|
|
154,026
|
USD
|
2,690,000
|
MXN
|
HSBC
|
06/17/2026
|
1,044
|
|
310,395
|
USD
|
5,444,000
|
MXN
|
SSG
|
06/17/2026
|
791
|
|
159,085
|
USD
|
2,840,000
|
MXN
|
BOA
|
06/17/2026
|
(2,427
)
|
|
157,285
|
USD
|
2,820,000
|
MXN
|
SCB
|
06/17/2026
|
(3,090
)
|
|
487,787
|
USD
|
8,690,000
|
MXN
|
TDB
|
06/17/2026
|
(6,418
)
|
|
554,584
|
USD
|
9,890,000
|
MXN
|
CBK
|
06/17/2026
|
(7,865
)
|
|
699,650
|
USD
|
12,596,000
|
MXN
|
UBS
|
06/17/2026
|
(16,691
)
|
|
48,843
|
USD
|
864,000
|
MXN
|
MSC
|
07/28/2026
|
(122
)
|
|
50,214
|
USD
|
905,000
|
MXN
|
MSC
|
09/08/2026
|
(891
)
|
|
218,734
|
USD
|
880,000
|
MYR
|
DEUT
|
06/18/2026
|
(3,147
)
|
|
245,412
|
USD
|
415,000
|
NZD
|
MSC
|
06/17/2026
|
681
|
|
97,109
|
USD
|
165,000
|
NZD
|
SCB
|
06/17/2026
|
(194
)
|
|
1,102,166
|
USD
|
3,843,000
|
PEN
|
CBK
|
06/17/2026
|
14,510
|
|
309,920
|
USD
|
1,070,000
|
PEN
|
BNP
|
06/17/2026
|
7,086
|
|
35,817
|
USD
|
124,000
|
PEN
|
BOA
|
06/17/2026
|
723
|
|
159,650
|
USD
|
9,630,000
|
PHP
|
BOA
|
06/17/2026
|
3,247
|
|
94,557
|
USD
|
5,820,000
|
PHP
|
GSC
|
06/17/2026
|
33
|
|
256,004
|
USD
|
921,000
|
PLN
|
SSG
|
06/17/2026
|
2,266
|
|
13,421
|
USD
|
50,000
|
PLN
|
DEUT
|
06/17/2026
|
(355
)
|
|
1,315,604
|
USD
|
4,865,000
|
PLN
|
MSC
|
06/17/2026
|
(24,718
)
|
|
51,909
|
USD
|
189,000
|
PLN
|
MSC
|
10/27/2026
|
(100
)
|
|
258,698
|
USD
|
1,125,000
|
RON
|
BNP
|
06/17/2026
|
5,397
|
|
34,696
|
USD
|
155,000
|
RON
|
SCB
|
06/17/2026
|
(203
)
|
|
110,274
|
USD
|
140,000
|
SGD
|
MSC
|
06/17/2026
|
(32
)
|
|
145,662
|
USD
|
185,000
|
SGD
|
DEUT
|
06/17/2026
|
(100
)
|
|
271,645
|
USD
|
345,000
|
SGD
|
CAG
|
06/17/2026
|
(180
)
|
|
121,753
|
USD
|
155,000
|
SGD
|
GSC
|
06/17/2026
|
(371
)
|
|
157,108
|
USD
|
200,000
|
SGD
|
CBK
|
06/17/2026
|
(472
)
|
|
473,971
|
USD
|
15,330,000
|
THB
|
CBK
|
06/17/2026
|
1,843
|
|
666,379
|
USD
|
21,580,000
|
THB
|
GSC
|
06/17/2026
|
1,768
|
|
40,520
|
USD
|
1,310,000
|
THB
|
SCB
|
06/17/2026
|
175
|
|
182,014
|
USD
|
5,910,000
|
THB
|
MSC
|
06/17/2026
|
—
|
|
127,732
|
USD
|
4,150,000
|
THB
|
DEUT
|
06/17/2026
|
(78
)
|
|
256,259
|
USD
|
11,975,000
|
TRY
|
BCLY
|
05/11/2026
|
(6,107
)
|
|
267,486
|
USD
|
12,625,000
|
TRY
|
UBS
|
06/17/2026
|
586
|
|
1,507
|
USD
|
71,000
|
TRY
|
SGG
|
06/17/2026
|
6
|
|
246,426
|
USD
|
11,925,000
|
TRY
|
GSC
|
06/17/2026
|
(5,675
)
|
|
536,869
|
USD
|
26,065,000
|
TRY
|
BCLY
|
06/17/2026
|
(14,159
)
|
|
468,744
|
USD
|
26,065,000
|
TRY
|
BCLY
|
12/16/2026
|
2,013
|
|
206,608
|
USD
|
11,975,000
|
TRY
|
JPM
|
02/10/2027
|
2,055
|
|
118,920
|
USD
|
7,085,000
|
TRY
|
GSC
|
03/17/2027
|
1,449
|
|
140,609
|
USD
|
2,350,000
|
ZAR
|
MSC
|
06/17/2026
|
405
|
|
278,194
|
USD
|
4,690,000
|
ZAR
|
GSC
|
06/17/2026
|
(1,617
)
|
|
752,437
|
USD
|
12,642,000
|
ZAR
|
SSG
|
06/17/2026
|
(1,801
)
|
|
315,845
|
USD
|
5,400,000
|
ZAR
|
BCLY
|
06/17/2026
|
(6,326
)
|
|
107,237
|
USD
|
1,790,000
|
ZAR
|
JPM
|
07/09/2026
|
629
|
|
40,780
|
USD
|
660,000
|
ZAR
|
BOA
|
08/26/2026
|
1,628
|
|
Total foreign currency contracts
|
$(573,051
)
|
|||||
|
Foreign Cross Currency Contracts Outstanding at April 30, 2026
|
||||||
|
Contract
Amount
|
Counterparty
|
Delivery Date
|
Contract
Amount
|
Unrealized
Appreciation/
Depreciation
|
||
|
EUR
|
1,928,053
|
BNP
|
05/29/2026
|
GBP
|
1,936,362
|
$(8,308
)
|
|
|
66
|
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Asset-Backed & Commercial Mortgage-Backed Securities
|
$165,942,380
|
$—
|
$165,942,380
|
$—
|
|
Convertible Bonds
|
52,126,269
|
—
|
52,126,269
|
—
|
|
Corporate Bonds
|
249,830,921
|
—
|
249,830,921
|
—
|
|
Foreign Government Obligations
|
48,264,818
|
—
|
48,264,818
|
—
|
|
Senior Floating Rate Interests
|
68,336,250
|
—
|
68,336,250
|
—
|
|
U.S. Government Agencies
|
124,025,061
|
—
|
124,025,061
|
—
|
|
U.S. Government Securities
|
125,598,913
|
—
|
125,598,913
|
—
|
|
Common Stocks
|
387,837
|
329,395
|
31,567
|
26,875
|
|
Exchange-Traded Funds
|
19,378,744
|
19,378,744
|
—
|
—
|
|
Preferred Stocks
|
10,115,005
|
10,115,005
|
—
|
—
|
|
Warrants
|
—
|
—
|
—
|
—
|
|
Short-Term Investments
|
20,404,212
|
19,518,612
|
885,600
|
—
|
|
Purchased Options
|
63,480
|
—
|
63,480
|
—
|
|
Foreign Currency Contracts(2)
|
(581,359
)
|
—
|
(581,359
)
|
—
|
|
Futures Contracts(2)
|
321,966
|
321,966
|
—
|
—
|
|
Swaps - Total Return(2)
|
143,624
|
—
|
143,624
|
—
|
|
Swaps - Interest Rate(2)
|
271,964
|
—
|
271,964
|
—
|
|
Total
|
$884,630,085
|
$49,663,722
|
$834,939,488
|
$26,875
|
|
Liabilities
|
|
|
|
|
|
Futures Contracts(2)
|
$(3,092,640
)
|
$(3,092,640
)
|
$—
|
$—
|
|
Swaps - Interest Rate(2)
|
(108,765
)
|
—
|
(108,765
)
|
—
|
|
Swaps - Credit Default(2)
|
(153,365
)
|
—
|
(153,365
)
|
—
|
|
TBA Sale Commitments
|
(56,471,816
)
|
—
|
(56,471,816
)
|
—
|
|
Written Options
|
(79,217
)
|
—
|
(79,217
)
|
—
|
|
Total
|
$(59,905,803
)
|
$(3,092,640
)
|
$(56,813,163
)
|
$—
|
|
(1)
|
For the period ended April 30, 2026, investments valued at $515,000 were transferred
out of Level 3 due to the availability of active market prices which has been determined
to be
significant observable input. There were no transfers into Level 3.
|
|
(2)
|
Derivative instruments (excluding purchased and written options, if applicable) are
valued at the unrealized appreciation/(depreciation) on the investments.
|
|
|
67
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8%
|
|||
|
|
Asset-Backed - Automobile - 0.4%
|
||
|
$ 635,000
|
American Credit Acceptance Receivables
Trust Series 2026-2, 4.50%,
10/08/2030(1)
|
$634,657
|
|
|
540,000
|
Avis Budget Rental Car Funding
AESOP LLC Series 2024-3A, 5.58%,
12/20/2030(1)
|
547,971
|
|
|
955,000
|
Citizens Auto Receivables Trust Series
2024-1, 5.03%, 10/15/2030(1)
|
963,550
|
|
|
1,060,000
|
Exeter Automobile Receivables Trust Series
2025-4A, 4.40%, 05/15/2030
|
1,059,130
|
|
|
625,000
|
First Investors Auto Owner Trust Series
2026-1A, 5.38%, 07/15/2032(1)
|
628,511
|
|
|
1,340,000
|
Hertz Vehicle Financing III LLC Series
2025-2A, 5.13%, 09/25/2031(1)
|
1,350,987
|
|
|
1,650,000
|
Hyundai Auto Lease Securitization Trust
Series 2024-A, 5.35%, 05/15/2028(1)
|
1,652,770
|
|
|
|
Santander Bank Auto Credit-Linked Notes
|
|
|
|
761,707
|
Series 2024-B, 4.97%, 01/18/2033(1)
|
765,771
|
|
|
99,371
|
Series 2023-B, 5.64%, 12/15/2033(1)
|
100,439
|
|
|
|
SFS Auto Receivables Securitization Trust
|
|
|
|
360,000
|
Series 2024-1A, 5.38%, 01/21/2031(1)
|
365,907
|
|
|
625,000
|
Series 2023-1A, 5.71%, 01/22/2030(1)
|
634,772
|
|
|
599,967
|
Wheels Fleet Lease Funding 1 LLC Series
2023-2A, 6.46%, 08/18/2038(1)
|
604,450
|
|
|
|
|
|
9,308,915
|
|
|
Asset-Backed - Finance & Insurance - 0.7%
|
||
|
|
Castlelake Aircraft Structured Trust
|
|
|
|
3,738,918
|
Series 2026-1A, 5.07%, 03/15/2051(1)
|
3,685,837
|
|
|
2,660,000
|
Series 2026-2A, 5.33%, 04/15/2051(1)
|
2,658,646
|
|
|
2,370,000
|
Invesco U.S. CLO Ltd. Series 2023-1A,
5.41%, 04/22/2037, 3 mo. USD Term
SOFR + 1.75%(1)(2)
|
2,357,252
|
|
|
2,950,000
|
Neuberger Berman Loan Advisers CLO 42
Ltd. Series 2021-42A, 5.53%,
07/16/2036, 3 mo. USD Term SOFR +
1.85%(1)(2)
|
2,952,537
|
|
|
1,195,000
|
PK ALIFT Loan Funding 8 LP Series
2026-1, 4.61%, 09/15/2043(1)
|
1,173,004
|
|
|
|
STAR Trust
|
|
|
|
1,150,000
|
Series 2026-SFR7, 5.36%, 05/17/2043,
1 mo. USD Term SOFR + 1.70%(1)(2)
|
1,151,996
|
|
|
640,000
|
Series 2026-SFR7, 5.66%, 05/17/2043,
1 mo. USD Term SOFR + 2.00%(1)(2)
|
641,955
|
|
|
1,135,000
|
VB-S1 Issuer LLC Series 2026-1A, 4.69%,
03/15/2056(1)
|
1,109,763
|
|
|
|
|
|
15,730,990
|
|
|
Asset-Backed - Home Equity - 0.3%
|
||
|
492,772
|
COOPR Residential Mortgage Trust Series
2026-CES1, 4.87%, 02/25/2061(1)(3)
|
489,188
|
|
|
393,384
|
FIGRE Trust Series 2026-HE1, 4.98%,
01/25/2056(1)(2)
|
388,312
|
|
|
4,114,742
|
Finance of America Structured Securities
Trust Series 2026-PC1, 4.50%,
01/25/2076(1)(2)
|
4,017,560
|
|
|
955,000
|
OBX Trust Series 2026-CES1, 5.19%,
04/25/2056(1)(3)
|
951,584
|
|
|
|
|
|
5,846,644
|
|
|
Asset-Backed - Manufactured Housing - 0.0%
|
||
|
301,817
|
Cascade MH Asset Trust Series 2021-MH1,
1.75%, 02/25/2046(1)
|
273,361
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Asset-Backed - Student Loan - 0.1%
|
||
|
|
Navient Private Education Refi Loan Trust
|
|
|
|
$ 354,074
|
Series 2021-EA, 0.97%, 12/16/2069(1)
|
$316,476
|
|
|
693,593
|
Series 2021-FA, 1.11%, 02/18/2070(1)
|
617,189
|
|
|
856,868
|
Series 2023-A, 5.51%, 10/15/2071(1)
|
873,202
|
|
|
|
|
|
1,806,867
|
|
|
Commercial Mortgage-Backed Securities - 6.4%
|
||
|
1,549,000
|
280 Park Avenue Mortgage Trust Series
2017-280P, 6.08%, 09/15/2034, 1 mo.
USD Term SOFR + 2.42%(1)(2)
|
1,529,638
|
|
|
1,300,000
|
ACREC LLC Series 2026-FL4, 5.26%,
01/18/2043, 1 mo. USD Term SOFR +
1.60%(1)(2)
|
1,299,968
|
|
|
1,295,000
|
ALA Trust Series 2025-OANA, 5.40%,
06/15/2040, 1 mo. USD Term SOFR +
1.74%(1)(2)
|
1,299,856
|
|
|
1,420,000
|
AREIT Trust Series 2025-CRE11, 5.42%,
07/25/2043, 1 mo. USD Term SOFR +
1.75%(1)(2)
|
1,420,439
|
|
|
810,000
|
ARZ Trust Series 2024-BILT, 6.07%,
06/11/2039(1)
|
819,353
|
|
|
742,895
|
BAMLL Commercial Mortgage Securities
Trust Series 2019-BPR, 3.11%,
11/05/2032(1)
|
723,483
|
|
|
|
BBCMS Mortgage Trust
|
|
|
|
10,282,075
|
Series 2024-C26, 1.24%, 05/15/2057(2)(4)
|
691,595
|
|
|
7,316,902
|
Series 2024-C28, 1.33%, 09/15/2057(2)(4)
|
520,404
|
|
|
7,525,048
|
Series 2025-C32, 1.36%, 02/15/2062(2)(4)
|
587,219
|
|
|
6,301,728
|
Series 2024-C24, 1.86%, 02/15/2057(2)(4)
|
556,368
|
|
|
530,000
|
Series 2022-C15, 3.66%, 04/15/2055(2)
|
488,121
|
|
|
1,375,000
|
Series 2025-5C37, 5.38%, 09/15/2058(2)
|
1,388,621
|
|
|
1,345,000
|
Series 2026-5C40, 5.78%, 02/15/2059(2)
|
1,364,998
|
|
|
1,965,000
|
Series 2025-5C34, 5.99%, 05/15/2058(2)
|
2,027,814
|
|
|
1,940,000
|
BDS LLC Series 2026-FL17, 5.20%,
05/19/2043, 1 mo. USD Term SOFR +
1.55%(1)(2)
|
1,940,018
|
|
|
|
Benchmark Mortgage Trust
|
|
|
|
12,486,468
|
Series 2022-B32, 0.56%,
01/15/2055(1)(2)(4)
|
142,693
|
|
|
17,463,294
|
Series 2018-B4, 0.61%, 07/15/2051(2)(4)
|
166,912
|
|
|
7,036,687
|
Series 2018-B1, 0.65%, 01/15/2051(2)(4)
|
56,280
|
|
|
12,391,107
|
Series 2023-B39, 0.72%, 07/15/2056(2)(4)
|
412,977
|
|
|
7,281,106
|
Series 2019-B10, 1.38%, 03/15/2062(2)(4)
|
211,218
|
|
|
4,219,233
|
Series 2023-B40, 1.43%, 12/15/2056(2)(4)
|
210,871
|
|
|
3,578,686
|
Series 2020-B22, 1.60%, 01/15/2054(2)(4)
|
198,504
|
|
|
1,418,847
|
Series 2020-B18, 1.87%, 07/15/2053(2)(4)
|
71,356
|
|
|
2,053,000
|
Series 2019-B15, 2.93%, 12/15/2072
|
1,916,051
|
|
|
2,200,000
|
Series 2018-B2, 3.88%, 02/15/2051(2)
|
2,170,972
|
|
|
1,640,000
|
Series 2026-V20, 5.44%, 02/15/2059
|
1,662,685
|
|
|
845,000
|
Series 2026-V20, 5.69%, 02/15/2059(2)
|
852,948
|
|
|
9,741,474
|
BMO Mortgage Trust Series 2024-C9,
1.08%, 07/15/2057(2)(4)
|
582,065
|
|
|
4,200,000
|
BOCA Commercial Mortgage Trust Series
2025-BOCA, 5.55%, 12/15/2042, 1 mo.
USD Term SOFR + 1.90%(1)(2)
|
4,215,671
|
|
|
2,485,000
|
BOS Trust Series 2026-LYRK, 5.64%,
05/11/2041(1)(2)
|
2,470,121
|
|
|
|
BPR Trust
|
|
|
|
870,000
|
Series 2024-PMDW, 5.85%,
11/05/2041(1)(2)
|
886,629
|
|
|
3,055,000
|
Series 2023-BRK2, 7.89%,
10/05/2038(1)(2)
|
3,161,287
|
|
|
|
68
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 6.4% - (continued)
|
||
|
|
BX Commercial Mortgage Trust
|
|
|
|
$ 3,705,000
|
Series 2026-LP3, 5.20%, 04/15/2043,
1 mo. USD Term SOFR + 1.55%(1)(2)
|
$3,713,105
|
|
|
6,650,000
|
Series 2026-ALOHA, 5.25%, 04/15/2043,
1 mo. USD Term SOFR + 1.55%(1)(2)
|
6,650,000
|
|
|
2,710,000
|
Series 2026-CSMO, 5.35%, 02/15/2043,
1 mo. USD Term SOFR + 1.70%(1)(2)
|
2,714,038
|
|
|
|
BX Trust
|
|
|
|
1,295,000
|
Series 2026-CART, 5.00%, 02/15/2036,
1 mo. USD Term SOFR + 1.35%(1)(2)
|
1,286,426
|
|
|
955,000
|
Series 2026-RISE, 5.12%, 04/15/2041,
1 mo. USD Term SOFR + 1.45%(1)(2)
|
955,298
|
|
|
1,430,000
|
Series 2025-ARIA, 5.35%,
12/13/2042(1)(2)
|
1,432,678
|
|
|
1,670,000
|
Series 2025-GW, 5.51%, 07/15/2042,
1 mo. USD Term SOFR + 1.85%(1)(2)
|
1,671,044
|
|
|
|
BXMT Ltd.
|
|
|
|
1,205,000
|
Series 2026-FL6, 5.11%, 08/19/2043,
1 mo. USD Term SOFR + 1.45%(1)(2)
|
1,204,995
|
|
|
835,000
|
Series 2026-FL6, 5.41%, 08/19/2043,
1 mo. USD Term SOFR + 1.75%(1)(2)
|
836,815
|
|
|
5,032,000
|
CD Mortgage Trust Series 2017-CD3,
3.63%, 02/10/2050
|
4,936,014
|
|
|
766,000
|
Citigroup Commercial Mortgage Trust
Series 2016-C3, 4.11%, 11/15/2049(2)
|
686,165
|
|
|
|
Commercial Mortgage Trust
|
|
|
|
389,000
|
Series 2022-HC, 2.82%, 01/10/2039(1)
|
378,746
|
|
|
395,000
|
Series 2022-HC, 4.08%, 01/10/2039(1)(2)
|
378,085
|
|
|
1,206,000
|
Series 2024-CBM, 6.51%,
12/10/2041(1)(2)
|
1,221,295
|
|
|
|
DBJPM Mortgage Trust
|
|
|
|
3,051,922
|
Series 2020-C9, 1.70%, 09/15/2053(2)(4)
|
119,198
|
|
|
2,430,276
|
Series 2016-C3, 2.89%, 08/10/2049
|
2,422,985
|
|
|
|
DC Trust
|
|
|
|
645,000
|
Series 2024-HLTN, 5.93%,
04/13/2040(1)(2)
|
648,049
|
|
|
320,000
|
Series 2024-HLTN, 7.29%,
04/13/2040(1)(2)
|
317,342
|
|
|
|
Extended Stay America Trust
|
|
|
|
5,397,203
|
Series 2026-ESH2, 5.05%, 02/15/2043,
1 mo. USD Term SOFR + 1.40%(1)(2)
|
5,410,696
|
|
|
447,857
|
Series 2025-ESH, 5.25%, 10/15/2042,
1 mo. USD Term SOFR + 1.60%(1)(2)
|
448,970
|
|
|
987,293
|
Series 2026-ESH2, 6.55%, 02/15/2043,
1 mo. USD Term SOFR + 2.90%(1)(2)
|
990,996
|
|
|
4,350,000
|
FS Commercial Mortgage Trust Series
2023-4SZN, 7.80%, 11/10/2039(1)(2)
|
4,393,308
|
|
|
3,290,000
|
GS Mortgage Securities Corp. II Series
2024-70P, 5.89%, 03/10/2041(1)(2)
|
3,282,225
|
|
|
|
GS Mortgage Securities Trust
|
|
|
|
6,119,578
|
Series 2020-GC45, 0.73%,
02/13/2053(2)(4)
|
112,588
|
|
|
717,863
|
Series 2016-GS2, 3.05%, 05/10/2049
|
716,788
|
|
|
2,440,000
|
Series 2017-GS7, 3.43%, 08/10/2050
|
2,410,331
|
|
|
710,000
|
GS REFT Issuer Ltd. Series 2026-FL1,
5.31%, 04/19/2043, 1 mo. USD Term
SOFR + 1.65%(1)(2)
|
710,441
|
|
|
686,535
|
HIH Trust Series 2024-61P, 6.00%,
10/15/2041, 1 mo. USD Term SOFR +
2.34%(1)(2)
|
687,178
|
|
|
|
HTL Commercial Mortgage Trust
|
|
|
|
910,000
|
Series 2024-T53, 6.77%, 05/10/2039(1)(2)
|
917,490
|
|
|
500,000
|
Series 2024-T53, 7.32%, 05/10/2039(1)(2)
|
505,401
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 6.4% - (continued)
|
||
|
|
INT Commercial Mortgage Trust
|
|
|
|
$ 1,050,000
|
Series 2025-PLAZA, 5.04%,
11/05/2037(1)(2)
|
$1,048,943
|
|
|
200,000
|
Series 2025-PLAZA, 5.34%,
11/05/2037(1)(2)
|
200,353
|
|
|
|
JP Morgan Chase Commercial Mortgage
Securities Trust
|
|
|
|
415,000
|
Series 2020-NNN, 2.81%, 01/16/2037(1)
|
373,504
|
|
|
300,000
|
Series 2024-OMNI, 5.99%,
10/05/2039(1)(2)
|
300,494
|
|
|
2,050,000
|
JPMCC Commercial Mortgage Securities
Trust Series 2017-JP5, 3.72%,
03/15/2050
|
2,039,748
|
|
|
270,000
|
JW Commercial Mortgage Trust Series
2026-MRCO, 5.35%, 06/15/2039, 1 mo.
USD Term SOFR + 1.70%(1)(2)
|
269,459
|
|
|
4,705,000
|
KRE Commercial Mortgage Trust Series
2026-ICNA, 5.50%, 05/15/2043, 1 mo.
USD Term SOFR + 1.85%(1)(2)
|
4,716,763
|
|
|
1,430,000
|
LBTY Commercial Mortgage Trust Series
2026-225L, 5.05%, 02/10/2043(1)(2)
|
1,411,743
|
|
|
2,675,000
|
LEX Trust Series 2026-450, 5.35%,
03/15/2043, 1 mo. USD Term SOFR +
1.70%(1)(2)
|
2,668,331
|
|
|
2,740,000
|
MAD Commercial Mortgage Trust Series
2025-11MD, 5.26%, 10/15/2042(1)(2)
|
2,736,015
|
|
|
1,300,000
|
MF1 Ltd. Series 2022-FL8, 5.41%,
02/19/2037, 1 mo. USD Term SOFR +
1.75%(1)(2)
|
1,298,002
|
|
|
|
Morgan Stanley Capital I Trust
|
|
|
|
3,457,702
|
Series 2017-H1, 1.44%, 06/15/2050(2)(4)
|
33,254
|
|
|
2,460,000
|
Series 2014-150E, 3.91%, 09/09/2032(1)
|
2,313,283
|
|
|
1,350,000
|
Series 2021-230P, 5.22%, 12/15/2038,
1 mo. USD Term SOFR + 1.56%(1)(2)
|
1,269,000
|
|
|
1,924,936
|
MSWF Commercial Mortgage Trust Series
2023-2, 1.15%, 12/15/2056(2)(4)
|
102,596
|
|
|
|
MTN Commercial Mortgage Trust
|
|
|
|
445,000
|
Series 2026-LPFX, 5.46%,
05/15/2043(1)(2)
|
445,261
|
|
|
300,000
|
Series 2026-LPFX, 5.76%,
05/15/2043(1)(2)
|
300,176
|
|
|
839,000
|
Natixis Commercial Mortgage Securities
Trust Series 2018-SOX, 4.93%,
06/17/2038(1)(2)
|
812,715
|
|
|
340,000
|
NRTH Commercial Mortgage Trust Series
2025-PARK, 5.30%, 10/15/2040, 1 mo.
USD Term SOFR + 1.64%(1)(2)
|
339,364
|
|
|
|
NYC Commercial Mortgage Trust
|
|
|
|
610,000
|
Series 2026-1PARK, 4.91%, 02/15/2043,
1 mo. USD Term SOFR + 1.25%(1)(2)
|
609,428
|
|
|
260,000
|
Series 2026-1PARK, 5.16%, 02/15/2043,
1 mo. USD Term SOFR + 1.50%(1)(2)
|
259,999
|
|
|
2,455,000
|
Series 2025-300P, 5.18%,
07/13/2042(1)(2)
|
2,446,476
|
|
|
3,560,000
|
Series 2025-3BP, 5.35%, 02/15/2042,
1 mo. USD Term SOFR + 1.69%(1)(2)
|
3,553,325
|
|
|
3,165,000
|
RFR Trust Series 2025-SGRM, 5.86%,
03/11/2041(1)(2)
|
3,190,003
|
|
|
1,920,000
|
SHOPS Commercial Mortgage Trust Series
2026-CSTL, 4.97%, 05/15/2039(1)(2)
|
1,920,000
|
|
|
5,550,000
|
SHR Trust Series 2024-LXRY, 6.10%,
10/15/2041, 1 mo. USD Term SOFR +
2.45%(1)(2)
|
5,548,266
|
|
|
|
69
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Commercial Mortgage-Backed Securities - 6.4% - (continued)
|
||
|
$ 975,000
|
SPGN Trust Series 2026-TFLM, 5.05%,
02/15/2041, 1 mo. USD Term SOFR +
1.40%(1)(2)
|
$971,039
|
|
|
630,000
|
TEXAS Commercial Mortgage Trust Series
2025-TWR, 5.25%, 04/15/2042, 1 mo.
USD Term SOFR + 1.59%(1)(2)
|
627,638
|
|
|
|
Wells Fargo Commercial Mortgage Trust
|
|
|
|
13,128,536
|
Series 2024-C63, 1.21%, 08/15/2057(2)(4)
|
886,969
|
|
|
525,000
|
Series 2026-1250B, 5.14%,
03/10/2041(1)(2)
|
519,230
|
|
|
|
Wells Fargo NA
|
|
|
|
11,198,561
|
Series 2022-BNK39, 0.52%,
02/15/2055(2)(4)
|
230,088
|
|
|
5,598,921
|
Series 2019-BN22, 0.69%,
11/15/2062(2)(4)
|
100,493
|
|
|
13,755,464
|
Series 2019-BN24, 0.75%,
11/15/2062(2)(4)
|
279,532
|
|
|
14,845,005
|
Series 2018-BN10, 0.83%,
02/15/2061(2)(4)
|
141,501
|
|
|
5,610,154
|
Series 2017-BNK8, 0.84%,
11/15/2050(2)(4)
|
39,584
|
|
|
2,875,351
|
Series 2017-BNK9, 0.85%,
11/15/2054(2)(4)
|
25,295
|
|
|
10,364,275
|
Series 2020-BN25, 0.98%,
01/15/2063(2)(4)
|
265,176
|
|
|
3,368,758
|
Series 2019-BN18, 1.02%,
05/15/2062(2)(4)
|
79,555
|
|
|
9,816,339
|
Series 2024-BNK47, 1.04%,
06/15/2057(2)(4)
|
514,446
|
|
|
2,540,548
|
Series 2023-5YR4, 1.26%,
12/15/2056(2)(4)
|
53,739
|
|
|
7,985,781
|
Series 2023-BNK45, 1.28%,
02/15/2056(2)(4)
|
427,288
|
|
|
12,127,807
|
Series 2024-BNK48, 1.35%,
10/15/2057(2)(4)
|
927,860
|
|
|
7,015,684
|
Series 2020-BN28, 1.87%,
03/15/2063(2)(4)
|
435,129
|
|
|
1,790,000
|
Series 2017-BNK7, 3.44%, 09/15/2060
|
1,765,151
|
|
|
1,440,000
|
Series 2019-BN18, 3.58%, 05/15/2062
|
1,387,591
|
|
|
2,994,000
|
Series 2026-5YR20, 5.54%, 02/15/2059
|
3,009,311
|
|
|
2,140,000
|
WHARF Commercial Mortgage Trust Series
2025-DC, 5.53%, 07/15/2040(1)(2)
|
2,177,643
|
|
|
|
|
|
143,276,584
|
|
|
Other Asset-Backed Securities - 5.5%
|
||
|
35,651
|
AASET Trust Series 2020-1A, 3.35%,
01/16/2040(1)
|
35,410
|
|
|
1,420,000
|
Aligned Data Centers Issuer LLC Series
2023-1A, 6.00%, 08/17/2048(1)
|
1,423,602
|
|
|
|
AMSR Trust
|
|
|
|
3,559,889
|
Series 2021-SFR4, 2.12%, 12/17/2038(1)
|
3,508,522
|
|
|
1,405,000
|
Series 2024-SFR2, 4.15%, 11/17/2041(1)
|
1,370,725
|
|
|
505,000
|
Amur Equipment Finance Receivables
XIII LLC Series 2024-1A, 5.37%,
01/21/2031(1)
|
511,804
|
|
|
2,795,000
|
Ares XLIII CLO Ltd. Series 2017-43A,
5.37%, 01/15/2038, 3 mo. USD Term
SOFR + 1.70%(1)(2)
|
2,804,953
|
|
|
1,181,886
|
Auxilior Term Funding LLC Series 2024-1A,
5.49%, 07/15/2031(1)
|
1,195,874
|
|
|
|
Bain Capital Credit CLO Ltd.
|
|
|
|
1,875,000
|
Series 2020-2A, 5.08%, 07/19/2034,
3 mo. USD Term SOFR + 1.40%(1)(2)
|
1,874,970
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 5.5% - (continued)
|
||
|
$ 2,235,000
|
Series 2022-5A, 5.42%, 01/24/2037,
3 mo. USD Term SOFR + 1.75%(1)(2)
|
$2,219,397
|
|
|
1,300,000
|
Benefit Street Partners CLO XXXI Ltd.
Series 2023-31A, 5.42%, 04/25/2038,
3 mo. USD Term SOFR + 1.75%(1)(2)
|
1,305,156
|
|
|
400,000
|
Blue Owl Asset Leasing Trust LLC Series
2024-1A, 5.41%, 03/15/2030(1)
|
402,950
|
|
|
3,730,000
|
CBAM Ltd. Series 2017-2A, 5.79%,
07/17/2034, 3 mo. USD Term SOFR +
2.11%(1)(2)
|
3,735,599
|
|
|
|
CF Hippolyta Issuer LLC
|
|
|
|
248,985
|
Series 2021-1A, 1.53%, 03/15/2061(1)
|
201,023
|
|
|
584,770
|
Series 2020-1, 1.69%, 07/15/2060(1)
|
486,740
|
|
|
193,202
|
Series 2021-1A, 1.98%, 03/15/2061(1)
|
115,549
|
|
|
810,659
|
Series 2020-1, 1.99%, 07/15/2060(1)
|
662,082
|
|
|
375,748
|
Series 2022-1A, 5.97%, 08/15/2062(1)
|
373,447
|
|
|
|
Commercial Equipment Finance LLC
|
|
|
|
2,532,546
|
Series 2025-1A, 4.83%, 05/15/2031(1)
|
2,538,766
|
|
|
460,373
|
Series 2024-1A, 5.97%, 07/16/2029(1)
|
462,697
|
|
|
5,110,000
|
CTM CLO Ltd. Series 2025-1A, 5.17%,
07/15/2038, 3 mo. USD Term SOFR +
1.50%(1)(2)
|
5,125,110
|
|
|
|
Domino's Pizza Master Issuer LLC
|
|
|
|
4,554,218
|
Series 2021-1A, 2.66%, 04/25/2051(1)
|
4,317,967
|
|
|
3,628,398
|
Series 2021-1A, 3.15%, 04/25/2051(1)
|
3,289,031
|
|
|
667,200
|
Series 2019-1A, 3.67%, 10/25/2049(1)
|
640,471
|
|
|
1,215,000
|
Elmwood CLO 23 Ltd. Series 2023-2A,
5.43%, 04/16/2036, 3 mo. USD Term
SOFR + 1.75%(1)(2)
|
1,216,091
|
|
|
4,000,000
|
Elmwood CLO I Ltd. Series 2019-1A,
5.28%, 04/20/2037, 3 mo. USD Term
SOFR + 1.60%(1)(2)
|
3,956,872
|
|
|
|
FirstKey Homes Trust
|
|
|
|
1,762,100
|
Series 2021-SFR2, 1.38%, 09/17/2038(1)
|
1,741,131
|
|
|
1,437,997
|
Series 2021-SFR3, 2.14%, 12/17/2038(1)
|
1,415,919
|
|
|
645,481
|
Series 2022-SFR1, 4.15%, 05/19/2039(1)
|
641,621
|
|
|
450,000
|
GreatAmerica Leasing Receivables
Funding LLC Series 2024-1, 5.18%,
12/16/2030(1)
|
455,267
|
|
|
|
GreenSky Home Improvement Issuer Trust
|
|
|
|
260,000
|
Series 2025-2A, 5.02%, 06/25/2060(1)
|
262,160
|
|
|
815,000
|
Series 2025-2A, 5.07%, 06/25/2060(1)
|
812,541
|
|
|
2,445,000
|
Home Re Ltd. Series 2026-1, 5.80%,
01/25/2036, 30 day USD SOFR Average
+ 2.15%(1)(2)
|
2,449,998
|
|
|
2,140,000
|
Jersey Mike's Funding LLC Series 2026-1A,
4.95%, 02/15/2056(1)
|
2,125,039
|
|
|
1,890,000
|
Magnetite XXXI Ltd. Series 2021-31A,
5.22%, 07/15/2034, 3 mo. USD Term
SOFR + 1.55%(1)(2)
|
1,884,882
|
|
|
2,798,179
|
MAPS Trust Series 2026-1A, 5.20%,
01/15/2051(1)
|
2,755,551
|
|
|
|
NMEF Funding LLC
|
|
|
|
372,408
|
Series 2025-B, 4.64%, 01/18/2033(1)
|
373,341
|
|
|
1,595,000
|
Series 2025-B, 4.73%, 01/18/2033(1)
|
1,596,218
|
|
|
650,000
|
Palmer Square Loan Funding Ltd. Series
2024-3A, 5.11%, 08/08/2032, 3 mo. USD
Term SOFR + 1.45%(1)(2)
|
649,085
|
|
|
|
Progress Residential Trust
|
|
|
|
2,696,282
|
Series 2025-SFR1, 3.40%, 02/17/2042(1)
|
2,559,787
|
|
|
2,320,000
|
Series 2026-SFR1, 4.00%, 02/17/2043(1)
|
2,190,992
|
|
|
1,716,651
|
Series 2022-SFR4, 4.44%, 05/17/2041(1)
|
1,692,575
|
|
|
425,205
|
Series 2022-SFR5, 4.45%, 06/17/2039(1)
|
423,239
|
|
|
|
70
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Other Asset-Backed Securities - 5.5% - (continued)
|
||
|
$ 735,519
|
Series 2022-SFR7, 4.75%, 10/27/2039(1)
|
$733,995
|
|
|
3,875,000
|
Rad CLO 12 Ltd. Series 2021-12A, 4.98%,
07/30/2040, 3 mo. USD Term SOFR +
1.32%(1)(2)
|
3,882,940
|
|
|
|
Retained Vantage Data Centers Issuer LLC
|
|
|
|
2,350,000
|
Series 2024-1A, 4.99%, 09/15/2049(1)
|
2,305,468
|
|
|
2,610,000
|
Series 2023-1A, 5.00%, 09/15/2048(1)
|
2,599,764
|
|
|
2,950,000
|
RR 23 Ltd. Series 2022-23A, 5.32%,
07/15/2037, 3 mo. USD Term SOFR +
1.65%(1)(2)
|
2,955,475
|
|
|
1,185,000
|
RR 26 Ltd. Series 2023-26A, 5.17%,
04/15/2038, 3 mo. USD Term SOFR +
1.50%(1)(2)
|
1,184,941
|
|
|
|
Stack Infrastructure Issuer LLC
|
|
|
|
1,480,000
|
Series 2023-2A, 5.90%, 07/25/2048(1)
|
1,482,777
|
|
|
855,000
|
Series 2024-1A, 5.90%, 03/25/2049(1)
|
860,865
|
|
|
1,163,341
|
Stream Innovations Issuer Trust Series
2025-1A, 5.05%, 09/15/2045(1)
|
1,164,250
|
|
|
759,812
|
Sunnova Hestia II Issuer LLC Series
2024-GRID1, 5.63%, 07/20/2051(1)
|
737,525
|
|
|
1,135,000
|
Symphony CLO 52 Ltd. Series 2025-52A,
5.52%, 01/20/2036, 3 mo. USD Term
SOFR + 1.85%(1)(2)
|
1,135,048
|
|
|
|
Taco Bell Funding LLC
|
|
|
|
1,675,163
|
Series 2021-1A, 2.54%, 08/25/2051(1)
|
1,455,206
|
|
|
1,733,550
|
Series 2018-1A, 4.94%, 11/25/2048(1)
|
1,727,386
|
|
|
1,445,000
|
Texas Debt Capital CLO Ltd. Series
2023-1A, 5.33%, 07/20/2038, 3 mo. USD
Term SOFR + 1.65%(1)(2)
|
1,448,738
|
|
|
|
Tricon Residential Trust
|
|
|
|
2,070,330
|
Series 2024-SFR4, 4.30%, 11/17/2041(1)
|
2,033,716
|
|
|
2,030,479
|
Series 2025-SFR1, 4.75%, 03/17/2042,
1 mo. USD Term SOFR + 1.10%(1)(2)
|
2,026,672
|
|
|
637,980
|
Series 2024-SFR2, 4.75%, 06/17/2040(1)
|
635,405
|
|
|
2,823,117
|
Series 2026-SFR1, 4.76%, 02/17/2043,
1 mo. USD Term SOFR + 1.10%(1)(2)
|
2,823,600
|
|
|
764,936
|
Series 2026-SFR1, 5.01%, 02/17/2043,
1 mo. USD Term SOFR + 1.35%(1)(2)
|
764,241
|
|
|
2,020,000
|
Vantage Data Centers Issuer LLC Series
2024-1A, 5.10%, 09/15/2054(1)
|
1,984,998
|
|
|
1,890,000
|
Vantage Data Centers LLC Series 2020-2A,
1.99%, 09/15/2045(1)
|
1,810,126
|
|
|
1,865,000
|
VB-S1 Issuer LLC Series 2024-1A, 5.59%,
05/15/2054(1)
|
1,878,225
|
|
|
2,270,000
|
Venture 42 CLO Ltd. Series 2021-42A,
5.06%, 04/15/2034, 3 mo. USD Term
SOFR + 1.39%(1)(2)
|
2,270,520
|
|
|
|
Wendy's Funding LLC
|
|
|
|
2,055,430
|
Series 2021-1A, 2.37%, 06/15/2051(1)
|
1,901,045
|
|
|
3,166,081
|
Series 2021-1A, 2.78%, 06/15/2051(1)
|
2,796,071
|
|
|
1,042,850
|
Series 2018-1A, 3.88%, 03/15/2048(1)
|
1,020,684
|
|
|
2,608,375
|
Series 2022-1A, 4.24%, 03/15/2052(1)
|
2,537,651
|
|
|
745,746
|
Series 2022-1A, 4.54%, 03/15/2052(1)
|
705,974
|
|
|
|
Wingstop Funding LLC
|
|
|
|
2,758,000
|
Series 2020-1A, 2.84%, 12/05/2050(1)
|
2,673,691
|
|
|
960,000
|
Series 2024-1A, 5.86%, 12/05/2054(1)
|
973,971
|
|
|
2,660,000
|
Zayo Issuer LLC Series 2025-1A, 5.65%,
03/20/2055(1)
|
2,682,791
|
|
|
|
|
|
122,997,913
|
|
|
Whole Loan Collateral CMO - 7.4%
|
||
|
250,218
|
A&D Mortgage Trust Series 2026-NQM1,
5.11%, 02/25/2071(1)(3)
|
247,792
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 7.4% - (continued)
|
||
|
$ 197,528
|
Ajax Mortgage Loan Trust Series 2021-C,
6.12%, 01/25/2061(1)(3)
|
$197,691
|
|
|
|
Angel Oak Mortgage Trust
|
|
|
|
318,201
|
Series 2021-1, 0.91%, 01/25/2066(1)(2)
|
281,661
|
|
|
839,442
|
Series 2021-5, 0.95%, 07/25/2066(1)(2)
|
723,380
|
|
|
128,282
|
Series 2020-R1, 0.99%, 04/25/2053(1)(2)
|
123,988
|
|
|
327,626
|
Series 2021-2, 0.99%, 04/25/2066(1)(2)
|
286,406
|
|
|
2,083,723
|
Series 2021-3, 1.07%, 05/25/2066(1)(2)
|
1,809,690
|
|
|
357,659
|
Series 2021-4, 1.24%, 01/20/2065(1)(2)
|
304,411
|
|
|
1,683,105
|
Series 2021-6, 1.46%, 09/25/2066(1)(2)
|
1,421,469
|
|
|
636,210
|
Series 2021-8, 1.82%, 11/25/2066(1)(2)
|
572,429
|
|
|
|
BINOM Mortgage Loan Trust
|
|
|
|
1,967,000
|
Series 2026-NQM1, 5.06%,
02/25/2066(1)(2)
|
1,965,331
|
|
|
380,000
|
Series 2026-NQM1, 5.31%,
02/25/2066(1)(3)
|
379,672
|
|
|
295,000
|
Series 2026-NQM1, 5.47%,
02/25/2066(1)(3)
|
294,741
|
|
|
|
BINOM Securitization Trust
|
|
|
|
377,311
|
Series 2021-INV1, 2.03%,
06/25/2056(1)(2)
|
346,807
|
|
|
2,092,921
|
Series 2022-INV1, 4.44%,
08/25/2057(1)(2)
|
2,031,631
|
|
|
|
BRAVO Residential Funding Trust
|
|
|
|
149,803
|
Series 2021-NQM1, 0.94%,
02/25/2049(1)(2)
|
140,733
|
|
|
6,611
|
Series 2021-NQM2, 0.97%,
03/25/2060(1)(2)
|
6,471
|
|
|
250,544
|
Series 2026-NQM1, 5.10%,
12/25/2065(1)(3)
|
248,680
|
|
|
1,726,994
|
CHNGE Mortgage Trust Series 2022-2,
4.76%, 03/25/2067(1)(2)
|
1,695,310
|
|
|
|
COLT Mortgage Loan Trust
|
|
|
|
142,970
|
Series 2021-2R, 0.80%, 07/27/2054(1)
|
129,499
|
|
|
513,615
|
Series 2021-1, 0.91%, 06/25/2066(1)(2)
|
447,423
|
|
|
3,629,591
|
Series 2021-3, 0.96%, 09/27/2066(1)(2)
|
3,040,731
|
|
|
668,043
|
Series 2021-2, 1.34%, 08/25/2066(1)(2)
|
570,804
|
|
|
2,983,502
|
Series 2021-4, 1.40%, 10/25/2066(1)(2)
|
2,557,204
|
|
|
1,644,988
|
Series 2022-1, 2.28%, 12/27/2066(1)(2)
|
1,511,873
|
|
|
1,747,608
|
Series 2026-1, 4.76%, 02/25/2071(1)(2)
|
1,735,251
|
|
|
447,474
|
Series 2026-1, 4.96%, 02/25/2071(1)(3)
|
443,233
|
|
|
498,614
|
Series 2026-1, 5.11%, 02/25/2071(1)(3)
|
493,806
|
|
|
|
CSMC Trust
|
|
|
|
374,973
|
Series 2021-AFC1, 0.83%,
03/25/2056(1)(2)
|
311,381
|
|
|
551,553
|
Series 2021-NQM5, 0.94%,
05/25/2066(1)(2)
|
455,618
|
|
|
844,583
|
Series 2021-NQM4, 1.10%,
05/25/2066(1)(2)
|
737,427
|
|
|
705,116
|
Series 2021-NQM8, 2.84%,
10/25/2066(1)(2)
|
646,063
|
|
|
2,136,990
|
Series 2022-NQM1, 3.27%,
11/25/2066(1)(2)
|
1,936,332
|
|
|
363,390
|
Series 2021-RPL4, 4.15%,
12/27/2060(1)(2)
|
360,325
|
|
|
226,910
|
Deephaven Residential Mortgage Trust
Series 2021-2, 0.90%, 04/25/2066(1)(2)
|
202,452
|
|
|
|
Ellington Financial Mortgage Trust
|
|
|
|
85,485
|
Series 2021-1, 0.80%, 02/25/2066(1)(2)
|
74,666
|
|
|
245,748
|
Series 2021-2, 0.93%, 06/25/2066(1)(2)
|
207,970
|
|
|
1,901,931
|
Series 2022-1, 2.21%, 01/25/2067(1)(2)
|
1,685,527
|
|
|
1,339,613
|
Series 2025-INV5, 5.38%,
12/25/2070(1)(3)
|
1,335,986
|
|
|
|
71
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 7.4% - (continued)
|
||
|
|
Federal Home Loan Mortgage Corp.
Seasoned Credit Risk Transfer Trust
|
|
|
|
$ 522,175
|
Series 2020-1, 2.50%, 08/25/2059
|
$439,063
|
|
|
202,249
|
Series 2018-3, 3.50%, 08/25/2057(2)
|
196,866
|
|
|
425,785
|
Series 2018-2, 3.50%, 11/25/2057
|
406,556
|
|
|
1,144,597
|
Series 2019-1, 3.50%, 07/25/2058
|
1,082,136
|
|
|
228,455
|
Series 2019-2, 3.50%, 08/25/2058
|
214,925
|
|
|
181,748
|
Series 2019-2, 3.50%, 08/26/2058
|
175,105
|
|
|
1,535,190
|
Series 2019-3, 3.50%, 10/25/2058
|
1,423,307
|
|
|
|
Federal National Mortgage Association
Connecticut Avenue Securities Trust
|
|
|
|
3,700,000
|
Series 2026-R01, 5.00%, 01/25/2046, 30
day USD SOFR Average + 1.35%(1)(2)
|
3,693,353
|
|
|
1,940,000
|
Series 2026-R03, 5.19%, 04/25/2046, 30
day USD SOFR Average + 1.55%(1)(2)
|
1,943,638
|
|
|
430,000
|
Series 2024-R01, 5.45%, 01/25/2044, 30
day USD SOFR Average + 1.80%(1)(2)
|
432,952
|
|
|
46,434
|
Series 2018-C02, 5.96%, 08/25/2030, 30
day USD SOFR Average + 2.31%(2)
|
47,016
|
|
|
555,800
|
Series 2021-R01, 6.75%, 10/25/2041, 30
day USD SOFR Average + 3.10%(1)(2)
|
561,216
|
|
|
1,309,000
|
Series 2022-R01, 6.80%, 12/25/2041, 30
day USD SOFR Average + 3.15%(1)(2)
|
1,325,179
|
|
|
3,885,000
|
Series 2022-R02, 8.15%, 01/25/2042, 30
day USD SOFR Average + 4.50%(1)(2)
|
3,973,617
|
|
|
1,395,000
|
Series 2022-R04, 8.90%, 03/25/2042, 30
day USD SOFR Average + 5.25%(1)(2)
|
1,443,825
|
|
|
1,545,000
|
Series 2022-R03, 9.90%, 03/25/2042, 30
day USD SOFR Average + 6.25%(1)(2)
|
1,613,073
|
|
|
|
GCAT Trust
|
|
|
|
388,958
|
Series 2021-NQM1, 0.87%,
01/25/2066(1)(2)
|
345,322
|
|
|
612,759
|
Series 2021-NQM3, 1.09%,
05/25/2066(1)(2)
|
538,834
|
|
|
1,004,083
|
Series 2021-NQM4, 1.09%,
08/25/2066(1)(2)
|
849,073
|
|
|
413,394
|
Series 2021-NQM7, 1.92%,
08/25/2066(1)(2)
|
384,808
|
|
|
6,431,490
|
Series 2026-NQM1, 5.19%,
12/25/2070(1)(3)
|
6,378,100
|
|
|
|
GS Mortgage-Backed Securities Trust
|
|
|
|
1,375,899
|
Series 2026-NQM1, 4.87%,
03/25/2066(1)(2)
|
1,367,941
|
|
|
425,105
|
Series 2026-NQM1, 5.23%,
03/25/2066(1)(3)
|
423,383
|
|
|
|
Imperial Fund Mortgage Trust
|
|
|
|
509,762
|
Series 2021-NQM2, 1.07%,
09/25/2056(1)(2)
|
427,790
|
|
|
2,052,943
|
Series 2022-NQM2, 4.64%,
03/25/2067(1)(3)
|
1,957,199
|
|
|
835,000
|
JP Morgan Mortgage Trust Series
2026-LTV1, 5.42%, 09/25/2056(1)(2)
|
833,898
|
|
|
|
Legacy Mortgage Asset Trust
|
|
|
|
261,595
|
Series 2021-GS4, 5.65%,
11/25/2060(1)(3)
|
258,622
|
|
|
345,384
|
Series 2021-GS2, 5.75%,
04/25/2061(1)(3)
|
342,013
|
|
|
501,617
|
Series 2021-GS3, 5.75%,
07/25/2061(1)(3)
|
501,723
|
|
|
379,323
|
MetLife Securitization Trust Series 2018-1A,
3.75%, 03/25/2057(1)(2)
|
367,638
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 7.4% - (continued)
|
||
|
|
MFA Trust
|
|
|
|
$ 28,551
|
Series 2020-NQM3, 1.01%,
01/26/2065(1)(2)
|
$27,459
|
|
|
352,001
|
Series 2021-NQM2, 1.03%,
11/25/2064(1)(2)
|
317,097
|
|
|
|
Morgan Stanley Residential Mortgage Loan
Trust
|
|
|
|
3,975,390
|
Series 2025-SPL1, 4.25%,
02/25/2065(1)(2)
|
3,870,635
|
|
|
2,413,043
|
Series 2026-DSC1, 4.77%,
01/25/2071(1)(2)
|
2,392,666
|
|
|
352,279
|
Series 2026-NQM1, 5.03%,
12/25/2070(1)(3)
|
349,229
|
|
|
2,995,000
|
Series 2026-NQM4, 5.08%,
03/25/2071(1)(2)
|
2,985,281
|
|
|
1,090,468
|
Series 2026-DSC1, 5.17%,
01/25/2071(1)(3)
|
1,081,263
|
|
|
1,088,000
|
Series 2026-NQM4, 5.40%,
03/25/2071(1)(3)
|
1,084,503
|
|
|
1,700,000
|
Series 2026-NQM4, 5.55%,
03/25/2071(1)(3)
|
1,694,553
|
|
|
|
New Residential Mortgage Loan Trust
|
|
|
|
246,933
|
Series 2021-NQ1R, 0.94%,
07/25/2055(1)(2)
|
226,531
|
|
|
1,827,110
|
Series 2021-NQM3, 1.16%,
11/27/2056(1)(2)
|
1,656,063
|
|
|
290,034
|
Series 2018-RPL1, 3.50%,
12/25/2057(1)(2)
|
281,766
|
|
|
243,321
|
Series 2019-1A, 3.75%, 09/25/2057(1)(2)
|
229,611
|
|
|
185,717
|
Series 2017-3A, 4.00%, 04/25/2057(1)(2)
|
179,340
|
|
|
201,924
|
Series 2017-6A, 4.00%, 08/27/2057(1)(2)
|
195,865
|
|
|
73,245
|
Series 2018-4A, 4.52%, 01/25/2048,
1 mo. USD Term SOFR + 0.86%(1)(2)
|
72,297
|
|
|
1,853,583
|
Series 2025-NQM7, 5.01%,
10/26/2065(1)(2)
|
1,846,191
|
|
|
357,410
|
Series 2026-NQM1, 5.18%,
11/25/2065(1)(3)
|
353,601
|
|
|
2,197,115
|
Series 2025-NQM7, 5.37%,
10/26/2065(1)(3)
|
2,182,457
|
|
|
918,724
|
NMLT Trust Series 2021-INV1, 1.19%,
05/25/2056(1)(2)
|
807,471
|
|
|
|
OBX Trust
|
|
|
|
567,186
|
Series 2021-NQM1, 1.07%,
02/25/2066(1)(2)
|
505,391
|
|
|
1,321,673
|
Series 2026-NQM2, 4.82%,
12/01/2065(1)(2)
|
1,314,453
|
|
|
2,325,165
|
Series 2026-NQM2, 5.04%,
12/01/2065(1)(3)
|
2,306,844
|
|
|
1,576,217
|
Series 2026-NQM2, 5.14%,
12/01/2065(1)(3)
|
1,561,691
|
|
|
870,000
|
Series 2026-NQM6, 5.32%,
04/26/2066(1)(3)
|
867,669
|
|
|
1,659,000
|
Series 2026-NQM6, 5.42%,
04/26/2066(1)(3)
|
1,654,539
|
|
|
1,720,671
|
OLIT Trust Series 2025-HB2, 3.00%,
11/25/2038(1)(2)
|
1,623,459
|
|
|
|
Pretium Mortgage Credit Partners LLC
|
|
|
|
4,508,469
|
Series 2025-RPL6, 3.85%,
09/25/2069(1)(3)
|
4,428,379
|
|
|
3,838,389
|
Series 2025-RPL1, 4.00%,
07/25/2069(1)(3)
|
3,740,398
|
|
|
2,682,313
|
Series 2025-RPL3, 4.15%,
04/25/2065(1)(3)
|
2,606,543
|
|
|
|
72
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 7.4% - (continued)
|
||
|
$ 1,440,000
|
Series 2026-RPL1, 4.15%,
01/25/2070(1)(3)
|
$1,346,574
|
|
|
5,813,379
|
Series 2025-NPL11, 5.19%,
10/25/2055(1)(3)
|
5,817,963
|
|
|
2,256,364
|
Series 2025-NPL14, 5.27%,
12/25/2055(1)(3)
|
2,241,577
|
|
|
2,911,376
|
Series 2025-NPL7, 5.66%,
07/25/2055(1)(3)
|
2,895,858
|
|
|
2,750,397
|
Series 2025-NPL8, 5.73%,
08/25/2055(1)(3)
|
2,757,970
|
|
|
4,529,117
|
Series 2025-NPL6, 5.74%,
06/25/2055(1)(3)
|
4,534,869
|
|
|
685,000
|
Series 2026-NPL3, 6.22%,
02/25/2056(1)(3)
|
677,649
|
|
|
487,482
|
Series 2026-NPL1, 6.54%,
01/25/2056(1)(3)
|
485,095
|
|
|
825,000
|
Series 2026-NPL2, 6.54%,
02/25/2056(1)(3)
|
822,158
|
|
|
1,725,000
|
Series 2025-NPL14, 6.78%,
12/25/2055(1)(3)
|
1,703,754
|
|
|
|
PRPM LLC
|
|
|
|
3,744,827
|
Series 2025-RPL2, 3.75%,
04/25/2055(1)(3)
|
3,649,120
|
|
|
1,701,528
|
Series 2025-7, 5.50%, 08/25/2030(1)(3)
|
1,700,740
|
|
|
506,321
|
Series 2024-6, 5.70%, 11/25/2029(1)(3)
|
502,956
|
|
|
979,493
|
Series 2025-5, 5.73%, 07/25/2030(1)(3)
|
974,810
|
|
|
2,481,806
|
Series 2025-6, 5.77%, 08/25/2028(1)(3)
|
2,465,940
|
|
|
1,398,486
|
Series 2024-7, 5.87%, 11/25/2029(1)(3)
|
1,386,206
|
|
|
4,387,497
|
Series 2025-2, 6.47%, 05/25/2030(1)(3)
|
4,340,867
|
|
|
2,253,000
|
Series 2026-2, 6.47%, 02/25/2031(1)(3)
|
2,245,680
|
|
|
|
PRPM Trust
|
|
|
|
591,578
|
Series 2026-RCF1, 4.85%,
01/25/2056(1)(3)
|
588,359
|
|
|
405,000
|
Series 2026-RCF1, 5.21%,
01/25/2056(1)(3)
|
404,225
|
|
|
461,825
|
Series 2025-3, 6.26%, 05/25/2030(1)(3)
|
461,283
|
|
|
231,206
|
RCO VIII Mortgage LLC Series 2025-3,
6.43%, 05/25/2030(1)(3)
|
231,047
|
|
|
86,715
|
Residential Mortgage Loan Trust Series
2021-1R, 0.86%, 01/25/2065(1)(2)
|
84,423
|
|
|
1,036,476
|
SG Residential Mortgage Trust Series
2021-1, 1.16%, 07/25/2061(1)(2)
|
855,093
|
|
|
|
Starwood Mortgage Residential Trust
|
|
|
|
86,227
|
Series 2021-2, 0.94%, 05/25/2065(1)(2)
|
82,647
|
|
|
712,122
|
Series 2021-3, 1.13%, 06/25/2056(1)(2)
|
619,050
|
|
|
1,053,756
|
Series 2021-6, 1.92%, 11/25/2066(1)(2)
|
931,129
|
|
|
|
Towd Point Mortgage Trust
|
|
|
|
498,115
|
Series 2020-4, 1.75%, 10/25/2060(1)
|
454,432
|
|
|
489,167
|
Series 2019-4, 2.90%, 10/25/2059(1)(2)
|
469,380
|
|
|
1,838,906
|
Series 2021-R1, 2.92%, 11/30/2060(1)(2)
|
1,626,101
|
|
|
14,960
|
Series 2018-5, 3.25%, 07/25/2058(1)(2)
|
14,864
|
|
|
309,171
|
TRK Trust Series 2021-INV1, 1.15%,
07/25/2056(1)(2)
|
279,409
|
|
|
|
Verus Securitization Trust
|
|
|
|
182,257
|
Series 2021-R2, 0.92%, 02/25/2064(1)(2)
|
174,131
|
|
|
1,468,343
|
Series 2021-4, 0.94%, 07/25/2066(1)(2)
|
1,245,485
|
|
|
3,382,457
|
Series 2021-5, 1.01%, 09/25/2066(1)(2)
|
2,918,428
|
|
|
224,078
|
Series 2021-2, 1.03%, 02/25/2066(1)(2)
|
205,175
|
|
|
710,528
|
Series 2021-8, 2.82%, 11/25/2066(1)(2)
|
650,944
|
|
|
1,486,031
|
Series 2021-7, 2.83%, 10/25/2066(1)(3)
|
1,361,635
|
|
|
1,217,319
|
Series 2022-1, 3.72%, 01/25/2067(1)(3)
|
1,149,345
|
|
|
2,161,438
|
Series 2022-5, 3.80%, 04/25/2067(1)(3)
|
2,122,481
|
|
|
1,071,685
|
Series 2022-3, 5.13%, 02/25/2067(1)(3)
|
1,022,963
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
ASSET-BACKED & COMMERCIAL MORTGAGE-BACKED SECURITIES - 20.8% -
(continued)
|
|||
|
|
Whole Loan Collateral CMO - 7.4% - (continued)
|
||
|
$ 140,056
|
VOLT C LLC Series 2021-NPL9, 5.99%,
05/25/2051(1)(3)
|
$138,712
|
|
|
93,483
|
VOLT CII LLC Series 2021-NP11, 5.87%,
08/25/2051(1)(3)
|
93,007
|
|
|
24,464
|
VOLT XCV LLC Series 2021-NPL4, 6.24%,
03/27/2051(1)(3)
|
24,364
|
|
|
|
|
|
167,111,178
|
|
|
Total Asset-Backed & Commercial
Mortgage-Backed Securities
(cost $470,853,704)
|
$466,352,452
|
|
|
CONVERTIBLE BONDS - 0.0%
|
|||
|
|
Commercial Banks - 0.0%
|
||
|
EUR
800,000
|
Mitsubishi UFJ Investor Services & Banking
Luxembourg SA 6.53%, 12/15/2050, 3
mo. EURIBOR + 4.50%(2)
|
$630,736
|
|
|
|
Electrical Components & Equipment - 0.0%
|
||
|
100,000
|
Schneider Electric SE 1.25%, 09/23/2033(5)
|
125,776
|
|
|
|
Total Convertible Bonds
(cost $720,511)
|
$756,512
|
|
|
CORPORATE BONDS - 18.2%
|
|||
|
|
Advertising - 0.0%
|
||
|
$ 1,000,000
|
Outfront Media Capital LLC/Outfront Media
Capital Corp. 7.38%, 02/15/2031(1)
|
$1,045,880
|
|
|
|
Aerospace & Defense - 0.2%
|
||
|
|
Boeing Co.
|
|
|
|
427,000
|
2.95%, 02/01/2030
|
403,539
|
|
|
330,000
|
3.20%, 03/01/2029
|
318,517
|
|
|
20,000
|
3.50%, 03/01/2039
|
16,141
|
|
|
35,000
|
3.63%, 03/01/2048
|
24,507
|
|
|
20,000
|
3.65%, 03/01/2047
|
14,133
|
|
|
85,000
|
3.85%, 11/01/2048
|
61,357
|
|
|
10,000
|
3.90%, 05/01/2049
|
7,348
|
|
|
2,395,000
|
5.15%, 05/01/2030
|
2,433,734
|
|
|
277,000
|
5.71%, 05/01/2040
|
279,683
|
|
|
10,000
|
5.88%, 02/15/2040
|
10,130
|
|
|
55,000
|
5.93%, 05/01/2060
|
53,251
|
|
|
390,000
|
6.39%, 05/01/2031
|
416,520
|
|
|
45,000
|
Hexcel Corp. 4.90%, 05/15/2031
|
45,024
|
|
|
|
|
|
4,083,884
|
|
|
Agriculture - 0.3%
|
||
|
|
BAT Capital Corp.
|
|
|
|
191,000
|
2.73%, 03/25/2031
|
174,723
|
|
|
26,700
|
3.56%, 08/15/2027
|
26,419
|
|
|
425,000
|
5.83%, 02/20/2031
|
444,632
|
|
|
25,000
|
6.00%, 02/20/2034
|
26,451
|
|
|
EUR
220,000
|
BAT International Finance PLC 4.13%,
04/12/2032(5)
|
261,334
|
|
|
235,000
|
Imperial Brands Finance Netherlands BV
5.25%, 02/15/2031(5)
|
293,008
|
|
|
|
Philip Morris International, Inc.
|
|
|
|
265,000
|
3.25%, 06/06/2032
|
304,030
|
|
|
$ 1,145,000
|
4.38%, 11/01/2027
|
1,147,615
|
|
|
220,000
|
4.38%, 04/30/2030
|
218,962
|
|
|
1,040,000
|
4.75%, 11/01/2031
|
1,046,198
|
|
|
320,000
|
4.90%, 11/01/2034
|
317,936
|
|
|
1,075,000
|
5.13%, 02/15/2030
|
1,097,892
|
|
|
1,579,000
|
5.13%, 02/13/2031
|
1,614,879
|
|
|
125,000
|
5.38%, 02/15/2033
|
128,562
|
|
|
|
73
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Agriculture - 0.3% - (continued)
|
||
|
$ 361,000
|
5.63%, 09/07/2033
|
$377,041
|
|
|
150,000
|
Turning Point Brands, Inc. 7.63%,
03/15/2032(1)
|
154,539
|
|
|
|
|
|
7,634,221
|
|
|
Airlines - 0.0%
|
||
|
350,000
|
American Airlines Pass-Through Trust
5.25%, 05/10/2040
|
349,563
|
|
|
600,000
|
JetBlue Airways Corp./JetBlue Loyalty LP
9.88%, 09/20/2031(1)
|
558,821
|
|
|
|
|
|
908,384
|
|
|
Auto Manufacturers - 0.0%
|
||
|
350,000
|
Hyundai Capital America 4.75%,
04/06/2029(1)
|
350,538
|
|
|
EUR
300,000
|
Volkswagen Financial Services AG 3.63%,
05/19/2029(5)
|
352,264
|
|
|
|
|
|
702,802
|
|
|
Auto Parts & Equipment - 0.1%
|
||
|
$ 900,000
|
American Axle & Manufacturing, Inc. 6.38%,
10/15/2032(1)
|
898,392
|
|
|
EUR
1,130,000
|
Clarios Global LP/Clarios U.S. Finance Co.
4.75%, 06/15/2031(5)
|
1,324,578
|
|
|
|
|
|
2,222,970
|
|
|
Beverages - 0.3%
|
||
|
|
Bacardi Ltd./Bacardi-Martini BV
|
|
|
|
$ 172,000
|
5.25%, 01/15/2029(1)
|
173,743
|
|
|
535,000
|
5.40%, 06/15/2033(1)
|
530,228
|
|
|
|
Keurig Dr. Pepper, Inc.
|
|
|
|
1,962,000
|
2.25%, 03/15/2031
|
1,739,748
|
|
|
215,000
|
3.20%, 05/01/2030
|
202,302
|
|
|
700,000
|
3.95%, 04/15/2029
|
687,487
|
|
|
995,000
|
4.05%, 04/15/2032
|
944,492
|
|
|
65,000
|
5.09%, 05/25/2048
|
56,177
|
|
|
885,000
|
5.20%, 03/15/2031
|
895,923
|
|
|
901,000
|
5.30%, 03/15/2034
|
898,172
|
|
|
EUR
298,000
|
Maple Parent Holdings Corp. 3.50%,
03/26/2028(1)
|
349,546
|
|
|
|
|
|
6,477,818
|
|
|
Chemicals - 0.2%
|
||
|
|
Celanese U.S. Holdings LLC
|
|
|
|
$ 500,000
|
6.50%, 04/15/2030(6)
|
511,462
|
|
|
75,000
|
7.00%, 02/15/2031
|
78,037
|
|
|
250,000
|
7.38%, 02/15/2034(6)
|
261,746
|
|
|
EUR
1,000,000
|
Itelyum Regeneration SpA 5.75%,
04/15/2030(5)
|
1,182,054
|
|
|
$ 215,000
|
OCP SA 6.74%, 04/22/2031, (6.74% fixed
rate until 04/22/2031; 5 yr. USD CMT +
2.75% thereafter)(1)(2)(7)
|
214,068
|
|
|
|
Olympus Water U.S. Holding Corp.
|
|
|
|
EUR
150,000
|
3.88%, 10/01/2028(5)
|
172,698
|
|
|
$ 1,310,000
|
6.25%, 10/01/2029(1)(6)
|
1,280,439
|
|
|
700,000
|
Tronox, Inc. 4.63%, 03/15/2029(1)(6)
|
585,806
|
|
|
|
|
|
4,286,310
|
|
|
Commercial Banks - 2.8%
|
||
|
EUR
200,000
|
AIB Group PLC 6.00%, 07/14/2031, (6.00%
fixed rate until 07/14/2031; 5 yr.
EURIBOR ICE Swap + 3.71%
thereafter)(2)(5)(7)
|
238,526
|
|
|
100,000
|
AL Sydbank 3.63%, 03/05/2030, (3.63%
fixed rate until 03/05/2029; 3 mo.
EURIBOR + 1.45% thereafter)(2)
|
117,440
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Commercial Banks - 2.8% - (continued)
|
||
|
EUR
200,000
|
Banco de Credito Social Cooperativo SA
4.25%, 10/13/2037, (4.25% fixed rate
until 07/13/2032; 1 yr. EURIBOR ICE
Swap + 1.75% thereafter)(2)(5)
|
$230,407
|
|
|
|
Banco Santander SA
|
|
|
|
400,000
|
4.88%, 10/18/2031(5)
|
497,812
|
|
|
$ 600,000
|
5.44%, 04/15/2036
|
595,675
|
|
|
|
Bank of America Corp.
|
|
|
|
1,145,000
|
1.90%, 07/23/2031, (1.90% fixed rate
until 07/23/2030; 6 mo. USD SOFR +
1.53% thereafter)(2)
|
1,021,422
|
|
|
741,000
|
1.92%, 10/24/2031, (1.92% fixed rate
until 10/24/2030; 6 mo. USD SOFR +
1.37% thereafter)(2)
|
656,970
|
|
|
182,000
|
2.50%, 02/13/2031, (2.50% fixed rate
until 02/13/2030; 3 mo. USD Term
SOFR + 1.25% thereafter)(2)
|
168,538
|
|
|
150,000
|
2.57%, 10/20/2032, (2.57% fixed rate
until 10/20/2031; 6 mo. USD SOFR +
1.21% thereafter)(2)
|
133,633
|
|
|
110,000
|
2.59%, 04/29/2031, (2.59% fixed rate
until 04/29/2030; 6 mo. USD SOFR +
2.15% thereafter)(2)
|
101,744
|
|
|
477,000
|
2.69%, 04/22/2032, (2.69% fixed rate
until 04/22/2031; 6 mo. USD SOFR +
1.32% thereafter)(2)
|
432,830
|
|
|
33,000
|
2.97%, 02/04/2033, (2.97% fixed rate
until 02/04/2032; 6 mo. USD SOFR +
1.33% thereafter)(2)
|
29,900
|
|
|
180,000
|
4.57%, 04/27/2033, (4.57% fixed rate
until 04/27/2032; 6 mo. USD SOFR +
1.83% thereafter)(2)
|
177,136
|
|
|
15,000
|
4.62%, 05/09/2029, (4.62% fixed rate
until 05/09/2028; 6 mo. USD SOFR +
1.11% thereafter)(2)
|
15,037
|
|
|
50,000
|
5.05%, 02/06/2037, (5.05% fixed rate
until 02/06/2036; 6 mo. USD SOFR +
1.13% thereafter)(2)
|
49,226
|
|
|
4,000
|
5.16%, 01/24/2031, (5.16% fixed rate
until 01/24/2030; 6 mo. USD SOFR +
1.00% thereafter)(2)
|
4,074
|
|
|
50,000
|
5.29%, 04/25/2034, (5.29% fixed rate
until 04/25/2033; 6 mo. USD SOFR +
1.91% thereafter)(2)
|
50,774
|
|
|
EUR
300,000
|
BAWAG Group AG 4.13%, 05/07/2035,
(4.13% fixed rate until 02/07/2030; 5 yr.
EURIBOR ICE Swap + 1.90%
thereafter)(2)(5)
|
348,570
|
|
|
$ 300,000
|
BPCE SA 4.76%, 01/13/2032, (4.76% fixed
rate until 01/13/2031; 6 mo. USD SOFR
+ 1.27% thereafter)(1)(2)
|
296,683
|
|
|
|
CaixaBank SA
|
|
|
|
EUR
100,000
|
4.00%, 03/05/2037, (4.00% fixed rate
until 09/05/2031; 5 yr. EURIBOR ICE
Swap + 1.75% thereafter)(2)(5)
|
116,459
|
|
|
200,000
|
4.25%, 09/06/2030(5)
|
243,077
|
|
|
$ 1,025,000
|
4.82%, 04/22/2032, (4.82% fixed rate
until 04/22/2031; 6 mo. USD SOFR +
1.21% thereafter)(1)(2)
|
1,018,354
|
|
|
920,000
|
5.40%, 04/22/2037, (5.40% fixed rate
until 04/22/2036; 6 mo. USD SOFR +
1.53% thereafter)(1)(2)
|
908,872
|
|
|
|
74
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Commercial Banks - 2.8% - (continued)
|
||
|
|
Citigroup, Inc.
|
|
|
|
$ 175,000
|
2.52%, 11/03/2032, (2.52% fixed rate
until 11/03/2031; 6 mo. USD SOFR +
1.18% thereafter)(2)
|
$155,104
|
|
|
45,000
|
2.56%, 05/01/2032, (2.56% fixed rate
until 05/01/2031; 6 mo. USD SOFR +
1.17% thereafter)(2)
|
40,435
|
|
|
75,000
|
3.06%, 01/25/2033, (3.06% fixed rate
until 01/25/2032; 6 mo. USD SOFR +
1.35% thereafter)(2)
|
67,971
|
|
|
1,395,000
|
4.50%, 09/11/2031, (4.50% fixed rate
until 09/11/2030; 6 mo. USD SOFR +
1.17% thereafter)(2)
|
1,379,385
|
|
|
50,000
|
4.91%, 05/24/2033, (4.91% fixed rate
until 05/24/2032; 6 mo. USD SOFR +
2.09% thereafter)(2)
|
49,875
|
|
|
995,000
|
4.95%, 05/07/2031, (4.95% fixed rate
until 05/07/2030; 6 mo. USD SOFR +
1.46% thereafter)(2)
|
1,001,891
|
|
|
100,000
|
6.27%, 11/17/2033, (6.27% fixed rate
until 11/17/2032; 6 mo. USD SOFR +
2.34% thereafter)(2)
|
106,897
|
|
|
150,000
|
7.20%, 05/15/2029, (7.20% fixed rate
until 05/15/2029; 5 yr. USD CMT +
2.91% thereafter)(2)(7)
|
153,030
|
|
|
EUR
500,000
|
CrediaBank SA 9.38%, 01/31/2031, (9.38%
fixed rate until 01/31/2031; 5 yr.
EURIBOR ICE Swap + 7.28%
thereafter)(2)(5)(7)
|
620,621
|
|
|
200,000
|
Credit Agricole SA 3.13%, 07/03/2031,
(3.13% fixed rate until 07/03/2030; 3 mo.
EURIBOR + 0.82% thereafter)(2)(5)
|
230,413
|
|
|
|
Deutsche Bank AG
|
|
|
|
$ 185,000
|
5.06%, 04/14/2032, (5.06% fixed rate
until 04/14/2031; 6 mo. USD SOFR +
1.41% thereafter)(2)
|
184,794
|
|
|
EUR
200,000
|
10.00%, 12/01/2027, (10.00% fixed rate
until 12/01/2027; 5 yr. EURIBOR ICE
Swap + 6.94% thereafter)(2)(5)(7)
|
253,085
|
|
|
200,000
|
Erste Group Bank AG 6.38%, 04/15/2032,
(6.38% fixed rate until 04/15/2032; 5 yr.
EURIBOR ICE Swap + 4.01%
thereafter)(2)(5)(7)
|
243,419
|
|
|
200,000
|
Eurobank SA 6.63%, 06/04/2031, (6.63%
fixed rate until 06/04/2031; 5 yr.
EURIBOR ICE Swap + 4.45%
thereafter)(2)(5)(7)
|
242,216
|
|
|
|
Goldman Sachs Group, Inc.
|
|
|
|
$ 1,416,000
|
1.99%, 01/27/2032, (1.99% fixed rate
until 01/27/2031; 6 mo. USD SOFR +
1.09% thereafter)(2)
|
1,245,898
|
|
|
50,000
|
2.62%, 04/22/2032, (2.62% fixed rate
until 04/22/2031; 6 mo. USD SOFR +
1.28% thereafter)(2)
|
45,000
|
|
|
EUR
303,000
|
3.51%, 08/17/2033, (3.51% fixed rate
until 08/17/2032; 3 mo. EURIBOR +
0.95% thereafter)(2)(5)
|
348,787
|
|
|
$ 50,000
|
4.37%, 10/21/2031, (4.37% fixed rate
until 10/21/2030; 6 mo. USD SOFR +
1.06% thereafter)(2)
|
49,050
|
|
|
690,000
|
4.69%, 10/23/2030, (4.69% fixed rate
until 10/23/2029; 6 mo. USD SOFR +
1.14% thereafter)(2)
|
689,986
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Commercial Banks - 2.8% - (continued)
|
||
|
$ 317,000
|
5.02%, 10/23/2035, (5.02% fixed rate
until 10/23/2034; 6 mo. USD SOFR +
1.42% thereafter)(2)
|
$311,889
|
|
|
655,000
|
5.05%, 07/23/2030, (5.05% fixed rate
until 07/23/2029; 6 mo. USD SOFR +
1.21% thereafter)(2)
|
662,534
|
|
|
275,000
|
5.07%, 01/21/2037, (5.07% fixed rate
until 01/21/2036; 6 mo. USD SOFR +
1.19% thereafter)(2)
|
268,850
|
|
|
5,610,000
|
5.09%, 04/20/2034, (5.09% fixed rate
until 04/20/2033; 6 mo. USD SOFR +
1.34% thereafter)(2)
|
5,596,776
|
|
|
610,000
|
5.22%, 04/23/2031, (5.22% fixed rate
until 04/23/2030; 6 mo. USD SOFR +
1.58% thereafter)(2)
|
619,927
|
|
|
550,000
|
5.33%, 07/23/2035, (5.33% fixed rate
until 07/23/2034; 6 mo. USD SOFR +
1.55% thereafter)(2)
|
552,061
|
|
|
50,000
|
5.73%, 04/25/2030, (5.73% fixed rate
until 04/25/2029; 6 mo. USD SOFR +
1.27% thereafter)(2)
|
51,495
|
|
|
266,000
|
5.85%, 04/25/2035, (5.85% fixed rate
until 04/25/2034; 6 mo. USD SOFR +
1.55% thereafter)(2)
|
276,307
|
|
|
41,000
|
6.13%, 02/15/2033
|
44,117
|
|
|
175,000
|
6.48%, 10/24/2029, (6.48% fixed rate
until 10/24/2028; 6 mo. USD SOFR +
1.77% thereafter)(2)
|
182,702
|
|
|
90,000
|
6.56%, 10/24/2034, (6.56% fixed rate
until 10/24/2033; 6 mo. USD SOFR +
1.95% thereafter)(2)
|
97,785
|
|
|
|
HSBC Holdings PLC
|
|
|
|
200,000
|
2.87%, 11/22/2032, (2.87% fixed rate
until 11/22/2031; 3 mo. USD SOFR +
1.410% thereafter)(2)
|
179,757
|
|
|
EUR
145,000
|
3.91%, 05/13/2034, (3.91% fixed rate
until 05/13/2033; 3 mo. EURIBOR +
1.54% thereafter)(2)(5)
|
170,089
|
|
|
$ 910,000
|
4.62%, 11/06/2031, (4.62% fixed rate
until 11/06/2030; 6 mo. USD SOFR +
1.19% thereafter)(2)
|
901,498
|
|
|
1,985,000
|
4.68%, 03/10/2032, (4.68% fixed rate
until 03/10/2031; 6 mo. USD SOFR +
1.21% thereafter)(2)
|
1,962,235
|
|
|
1,515,000
|
5.24%, 05/13/2031, (5.24% fixed rate
until 05/13/2030; 6 mo. USD SOFR +
1.57% thereafter)(2)
|
1,537,788
|
|
|
450,000
|
5.72%, 03/04/2035, (5.72% fixed rate
until 03/04/2034; 6 mo. USD SOFR +
1.78% thereafter)(2)
|
462,535
|
|
|
|
Intesa Sanpaolo SpA
|
|
|
|
EUR
200,000
|
7.00%, 05/20/2032, (7.00% fixed rate
until 05/20/2032; 5 yr. EURIBOR ICE
Swap + 4.35% thereafter)(2)(5)(7)
|
251,619
|
|
|
$ 219,000
|
8.25%, 11/21/2033, (8.25% fixed rate
until 11/21/2032; 1 yr. USD CMT +
4.40% thereafter)(1)(2)
|
254,230
|
|
|
|
JP Morgan Chase & Co.
|
|
|
|
132,000
|
1.95%, 02/04/2032, (1.95% fixed rate
until 02/04/2031; 6 mo. USD SOFR +
1.07% thereafter)(2)
|
116,471
|
|
|
5,000
|
2.07%, 06/01/2029, (2.07% fixed rate
until 06/01/2028; 6 mo. USD SOFR +
1.02% thereafter)(2)
|
4,764
|
|
|
|
75
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Commercial Banks - 2.8% - (continued)
|
||
|
$ 31,000
|
2.52%, 04/22/2031, (2.52% fixed rate
until 04/22/2030; 6 mo. USD SOFR +
2.04% thereafter)(2)
|
$28,663
|
|
|
848,000
|
2.55%, 11/08/2032, (2.55% fixed rate
until 11/08/2031; 6 mo. USD SOFR +
1.18% thereafter)(2)
|
754,631
|
|
|
100,000
|
2.58%, 04/22/2032, (2.58% fixed rate
until 04/22/2031; 3 mo. USD Term
SOFR + 1.25% thereafter)(2)
|
90,480
|
|
|
EUR
303,000
|
3.14%, 02/18/2032, (3.14% fixed rate
until 02/18/2031; 3 mo. EURIBOR +
0.76% thereafter)(2)(5)
|
349,130
|
|
|
$ 40,000
|
3.33%, 04/22/2052, (3.33% fixed rate
until 04/22/2051; 6 mo. USD SOFR +
1.58% thereafter)(2)
|
27,241
|
|
|
1,419,000
|
3.70%, 05/06/2030, (3.70% fixed rate
until 05/06/2029; 3 mo. USD Term
SOFR + 1.42% thereafter)(2)
|
1,385,549
|
|
|
758,000
|
4.01%, 04/23/2029, (4.01% fixed rate
until 04/23/2028; 3 mo. USD Term
SOFR + 1.38% thereafter)(2)
|
751,908
|
|
|
150,000
|
4.20%, 07/23/2029, (4.20% fixed rate
until 07/23/2028; 3 mo. USD Term
SOFR + 1.52% thereafter)(2)
|
149,066
|
|
|
1,135,000
|
4.26%, 10/22/2031, (4.26% fixed rate
until 10/22/2030; 6 mo. USD SOFR +
0.93% thereafter)(2)
|
1,116,611
|
|
|
100,000
|
4.49%, 03/24/2031, (4.49% fixed rate
until 03/24/2030; 3 mo. USD Term
SOFR + 3.79% thereafter)(2)
|
99,641
|
|
|
1,415,000
|
4.51%, 10/22/2028, (4.51% fixed rate
until 10/22/2027; 6 mo. USD SOFR +
0.86% thereafter)(2)
|
1,416,628
|
|
|
400,000
|
4.57%, 06/14/2030, (4.57% fixed rate
until 06/14/2029; 6 mo. USD SOFR +
1.75% thereafter)(2)
|
400,142
|
|
|
810,000
|
4.59%, 04/26/2033, (4.59% fixed rate
until 04/26/2032; 6 mo. USD SOFR +
1.80% thereafter)(2)
|
799,470
|
|
|
65,000
|
4.91%, 07/25/2033, (4.91% fixed rate
until 07/25/2032; 6 mo. USD SOFR +
2.08% thereafter)(2)
|
65,190
|
|
|
658,000
|
4.95%, 10/22/2035, (4.95% fixed rate
until 10/22/2034; 6 mo. USD SOFR +
1.34% thereafter)(2)
|
650,606
|
|
|
1,125,000
|
5.00%, 07/22/2030, (5.00% fixed rate
until 07/22/2029; 6 mo. USD SOFR +
1.13% thereafter)(2)
|
1,138,868
|
|
|
1,090,000
|
5.10%, 04/22/2031, (5.10% fixed rate
until 04/22/2030; 6 mo. USD SOFR +
1.44% thereafter)(2)
|
1,110,484
|
|
|
609,000
|
5.30%, 07/24/2029, (5.30% fixed rate
until 07/24/2028; 6 mo. USD SOFR +
1.45% thereafter)(2)
|
619,148
|
|
|
1,111,000
|
5.34%, 01/23/2035, (5.34% fixed rate
until 01/23/2034; 6 mo. USD SOFR +
1.62% thereafter)(2)
|
1,126,115
|
|
|
150,000
|
5.35%, 06/01/2034, (5.35% fixed rate
until 06/01/2033; 6 mo. USD SOFR +
1.85% thereafter)(2)
|
153,107
|
|
|
50,000
|
5.50%, 01/24/2036, (5.50% fixed rate
until 01/24/2035; 6 mo. USD SOFR +
1.32% thereafter)(2)
|
51,202
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Commercial Banks - 2.8% - (continued)
|
||
|
$ 390,000
|
5.58%, 07/23/2036, (5.58% fixed rate
until 07/23/2035; 6 mo. USD SOFR +
1.64% thereafter)(2)
|
$395,648
|
|
|
875,000
|
5.58%, 04/22/2030, (5.58% fixed rate
until 04/22/2029; 6 mo. USD SOFR +
1.16% thereafter)(2)
|
899,550
|
|
|
GBP
850,000
|
Metro Bank Holdings PLC 12.00%,
04/30/2029, (12.00% fixed rate until
04/30/2028; 1 yr. U.K. Government Bond
+ 7.81% thereafter)(2)(5)
|
1,292,108
|
|
|
|
Morgan Stanley
|
|
|
|
$ 375,000
|
1.79%, 02/13/2032, (1.79% fixed rate
until 02/13/2031; 6 mo. USD SOFR +
1.03% thereafter)(2)
|
326,404
|
|
|
58,000
|
1.93%, 04/28/2032, (1.93% fixed rate
until 04/28/2031; 6 mo. USD SOFR +
1.02% thereafter)(2)
|
50,440
|
|
|
485,000
|
2.24%, 07/21/2032, (2.24% fixed rate
until 07/21/2031; 6 mo. USD SOFR +
1.18% thereafter)(2)
|
426,726
|
|
|
50,000
|
2.51%, 10/20/2032, (2.51% fixed rate
until 10/20/2031; 6 mo. USD SOFR +
1.20% thereafter)(2)
|
44,339
|
|
|
1,006,000
|
2.70%, 01/22/2031, (2.70% fixed rate
until 01/22/2030; 6 mo. USD SOFR +
1.14% thereafter)(2)
|
935,881
|
|
|
469,000
|
2.94%, 01/21/2033, (2.94% fixed rate
until 01/21/2032; 6 mo. USD SOFR +
1.29% thereafter)(2)
|
423,092
|
|
|
180,000
|
3.22%, 04/22/2042, (3.22% fixed rate
until 04/22/2041; 6 mo. USD SOFR +
1.49% thereafter)(2)
|
136,456
|
|
|
EUR
225,000
|
3.38%, 01/23/2032, (3.38% fixed rate
until 01/23/2031; 3 mo. EURIBOR +
0.91% thereafter)(2)
|
260,916
|
|
|
$ 864,000
|
3.62%, 04/01/2031, (3.62% fixed rate
until 04/01/2030; 6 mo. USD SOFR +
3.12% thereafter)(2)
|
830,458
|
|
|
2,325,000
|
4.24%, 01/09/2030, (4.24% fixed rate
until 01/09/2029; 6 mo. USD SOFR +
0.80% thereafter)(2)
|
2,301,289
|
|
|
55,000
|
4.36%, 10/22/2031, (4.36% fixed rate
until 10/22/2030; 6 mo. USD SOFR +
1.07% thereafter)(2)
|
54,020
|
|
|
10,000
|
4.38%, 01/22/2047
|
8,291
|
|
|
981,000
|
4.71%, 03/12/2032, (4.71% fixed rate
until 03/12/2031; 6 mo. USD SOFR +
1.20% thereafter)(2)
|
973,431
|
|
|
710,000
|
4.81%, 04/16/2032, (4.81% fixed rate
until 04/16/2031; 6 mo. USD SOFR +
1.18% thereafter)(2)
|
708,262
|
|
|
131,000
|
5.17%, 01/16/2030, (5.17% fixed rate
until 01/16/2029; 6 mo. USD SOFR +
1.45% thereafter)(2)
|
132,741
|
|
|
768,000
|
5.23%, 01/15/2031, (5.23% fixed rate
until 01/15/2030; 6 mo. USD SOFR +
1.11% thereafter)(2)
|
780,732
|
|
|
465,000
|
5.45%, 07/20/2029, (5.45% fixed rate
until 07/20/2028; 6 mo. USD SOFR +
1.63% thereafter)(2)
|
473,545
|
|
|
390,000
|
5.47%, 01/18/2035, (5.47% fixed rate
until 01/18/2034; 6 mo. USD SOFR +
1.73% thereafter)(2)
|
397,394
|
|
|
|
76
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Commercial Banks - 2.8% - (continued)
|
||
|
$ 45,000
|
5.60%, 03/24/2051, (5.60% fixed rate
until 03/24/2050; 3 mo. USD SOFR +
4.840% thereafter)(2)
|
$43,564
|
|
|
1,480,000
|
5.66%, 04/18/2030, (5.66% fixed rate
until 04/18/2029; 6 mo. USD SOFR +
1.26% thereafter)(2)
|
1,520,293
|
|
|
850,000
|
5.83%, 04/19/2035, (5.83% fixed rate
until 04/19/2034; 6 mo. USD SOFR +
1.58% thereafter)(2)
|
884,380
|
|
|
132,000
|
6.34%, 10/18/2033, (6.34% fixed rate
until 10/18/2032; 6 mo. USD SOFR +
2.56% thereafter)(2)
|
141,473
|
|
|
462,000
|
6.63%, 11/01/2034, (6.63% fixed rate
until 11/01/2033; 6 mo. USD SOFR +
2.05% thereafter)(2)
|
503,383
|
|
|
50,000
|
7.25%, 04/01/2032
|
56,708
|
|
|
2,595,000
|
Morgan Stanley Private Bank NA 4.21%,
02/08/2030, (4.21% fixed rate until
02/08/2029; 6 mo. USD SOFR + 0.76%
thereafter)(2)
|
2,566,531
|
|
|
EUR
490,000
|
Nykredit Realkredit AS 3.50%,
07/10/2031(5)
|
570,151
|
|
|
245,000
|
Piraeus Bank SA 5.00%, 04/16/2030,
(5.00% fixed rate until 04/16/2029; 1 yr.
EURIBOR ICE Swap + 2.25%
thereafter)(2)(5)(6)
|
297,684
|
|
|
100,000
|
Societe Generale SA 7.88%, 01/18/2029,
(7.88% fixed rate until 01/18/2029; 5 yr.
EUR Swap + 5.23% thereafter)(2)(5)(7)
|
125,688
|
|
|
225,000
|
UniCredit SpA 3.20%, 09/22/2031, (3.20%
fixed rate until 09/22/2030; 3 mo.
EURIBOR + 0.90% thereafter)(2)(5)
|
258,707
|
|
|
|
Wells Fargo & Co.
|
|
|
|
$ 195,000
|
2.57%, 02/11/2031, (2.57% fixed rate
until 02/11/2030; 3 mo. USD Term
SOFR + 1.26% thereafter)(2)
|
180,903
|
|
|
789,000
|
3.35%, 03/02/2033, (3.35% fixed rate
until 03/02/2032; 6 mo. USD SOFR +
1.50% thereafter)(2)
|
726,381
|
|
|
50,000
|
4.53%, 09/15/2029, 3 mo. USD SOFR +
0.88%(2)
|
50,068
|
|
|
325,000
|
4.89%, 09/15/2036, (4.89% fixed rate
until 09/15/2035; 6 mo. USD SOFR +
1.34% thereafter)(2)
|
316,605
|
|
|
440,000
|
5.61%, 04/23/2036, (5.61% fixed rate
until 04/23/2035; 6 mo. USD SOFR +
1.74% thereafter)(2)
|
451,245
|
|
|
149,000
|
6.49%, 10/23/2034, (6.49% fixed rate
until 10/23/2033; 6 mo. USD SOFR +
2.06% thereafter)(2)
|
161,466
|
|
|
|
|
|
62,057,278
|
|
|
Commercial Services - 0.2%
|
||
|
1,100,000
|
Allied Universal Holdco LLC 7.88%,
02/15/2031(1)
|
1,153,759
|
|
|
EUR
595,000
|
BCP V Modular Services Finance II PLC
4.75%, 11/30/2028(5)
|
659,915
|
|
|
$ 1,950,000
|
Element Fleet Management Corp. 4.64%,
11/24/2030(1)
|
1,935,377
|
|
|
|
|
|
3,749,051
|
|
|
Construction Materials - 0.1%
|
||
|
|
CP Atlas Buyer, Inc.
|
|
|
|
850,000
|
9.75%, 07/15/2030(1)
|
790,229
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Construction Materials - 0.1% - (continued)
|
||
|
$ 256,668
|
12.75%, 01/15/2031(1)(8)
|
$189,955
|
|
|
800,000
|
JH North America Holdings, Inc. 6.13%,
07/31/2032(1)
|
801,699
|
|
|
|
|
|
1,781,883
|
|
|
Diversified Financial Services - 0.3%
|
||
|
250,000
|
Citadel Securities Global Holdings LLC
5.13%, 01/27/2032(1)
|
247,008
|
|
|
1,200,000
|
CrossCountry Intermediate HoldCo LLC
6.50%, 10/01/2030(1)
|
1,178,947
|
|
|
|
Freedom Mortgage Holdings LLC
|
|
|
|
600,000
|
7.88%, 04/01/2033(1)
|
584,947
|
|
|
500,000
|
9.25%, 02/01/2029(1)
|
518,015
|
|
|
675,000
|
goeasy Ltd. 6.88%, 02/15/2031(1)(6)
|
560,724
|
|
|
|
Synchrony Financial
|
|
|
|
1,030,000
|
2.88%, 10/28/2031
|
905,085
|
|
|
1,256,000
|
4.95%, 02/25/2032, (4.95% fixed rate
until 02/25/2031; 6 mo. USD SOFR +
1.53% thereafter)(2)
|
1,227,087
|
|
|
1,079,000
|
5.45%, 03/06/2031, (5.45% fixed rate
until 03/06/2030; 6 mo. USD SOFR +
1.68% thereafter)(2)
|
1,081,933
|
|
|
10,000
|
5.94%, 08/02/2030, (5.94% fixed rate
until 08/02/2029; 6 mo. USD SOFR +
2.13% thereafter)(2)
|
10,200
|
|
|
1,246,000
|
6.00%, 07/29/2036, (6.00% fixed rate
until 07/29/2035; 6 mo. USD SOFR +
2.07% thereafter)(2)
|
1,239,679
|
|
|
|
|
|
7,553,625
|
|
|
Electric - 2.8%
|
||
|
515,000
|
AES Andes SA 6.25%, 03/14/2032(1)
|
533,287
|
|
|
|
Alabama Power Co.
|
|
|
|
545,000
|
3.45%, 10/01/2049
|
380,113
|
|
|
273,000
|
4.15%, 08/15/2044
|
222,719
|
|
|
135,000
|
4.30%, 07/15/2048
|
109,255
|
|
|
310,000
|
5.85%, 11/15/2033
|
327,202
|
|
|
24,000
|
6.00%, 03/01/2039
|
25,367
|
|
|
100,000
|
American Electric Power Co., Inc. 5.63%,
03/01/2033
|
103,429
|
|
|
|
Arizona Public Service Co.
|
|
|
|
300,000
|
2.20%, 12/15/2031
|
261,993
|
|
|
320,000
|
5.70%, 08/15/2034
|
330,856
|
|
|
|
Clearway Energy Operating LLC
|
|
|
|
750,000
|
3.75%, 02/15/2031(1)
|
701,832
|
|
|
500,000
|
4.75%, 03/15/2028(1)
|
496,822
|
|
|
100,000
|
5.75%, 01/15/2034(1)
|
100,025
|
|
|
389,000
|
Cleco Corporate Holdings LLC 3.38%,
09/15/2029
|
364,440
|
|
|
|
Consolidated Edison Co. of New York, Inc.
|
|
|
|
395,000
|
3.20%, 12/01/2051
|
257,403
|
|
|
20,000
|
3.95%, 03/01/2043
|
16,130
|
|
|
229,000
|
3.95%, 04/01/2050
|
176,866
|
|
|
160,000
|
4.00%, 11/15/2057
|
116,201
|
|
|
25,000
|
4.45%, 03/15/2044
|
21,364
|
|
|
10,000
|
4.63%, 12/01/2054
|
8,243
|
|
|
103,000
|
5.30%, 03/01/2035
|
104,869
|
|
|
145,000
|
5.38%, 05/15/2034
|
149,002
|
|
|
335,000
|
5.50%, 03/15/2055
|
317,512
|
|
|
5,000
|
5.70%, 06/15/2040
|
5,094
|
|
|
605,000
|
5.75%, 11/15/2055
|
592,304
|
|
|
20,000
|
5.90%, 11/15/2053
|
20,016
|
|
|
147,000
|
6.15%, 11/15/2052
|
152,947
|
|
|
|
77
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Electric - 2.8% - (continued)
|
||
|
|
Dominion Energy, Inc.
|
|
|
|
$ 1,900,000
|
6.00%, 02/15/2056, (6.00% fixed rate
until 11/15/2030; 5 yr. USD CMT +
2.26% thereafter)(2)
|
$1,900,996
|
|
|
340,000
|
6.88%, 02/01/2055, (6.88% fixed rate
until 11/03/2029; 5 yr. USD CMT +
2.39% thereafter)(2)
|
352,281
|
|
|
|
Duke Energy Carolinas LLC
|
|
|
|
180,000
|
4.25%, 12/15/2041
|
155,403
|
|
|
305,000
|
6.45%, 10/15/2032
|
330,967
|
|
|
|
Duke Energy Corp.
|
|
|
|
1,774,000
|
2.55%, 06/15/2031
|
1,602,404
|
|
|
25,000
|
3.25%, 01/15/2082, (3.25% fixed rate
until 01/15/2027; 5 yr. USD CMT +
2.32% thereafter)(2)
|
24,387
|
|
|
380,000
|
3.30%, 06/15/2041
|
286,573
|
|
|
60,000
|
3.50%, 06/15/2051
|
40,193
|
|
|
EUR
143,000
|
3.75%, 04/01/2031
|
168,402
|
|
|
$ 627,700
|
3.75%, 09/01/2046
|
462,376
|
|
|
10,000
|
3.95%, 08/15/2047
|
7,466
|
|
|
135,000
|
4.80%, 12/15/2045
|
116,039
|
|
|
2,075,000
|
4.95%, 09/15/2035
|
2,030,150
|
|
|
110,000
|
5.00%, 08/15/2052
|
94,095
|
|
|
25,000
|
5.45%, 06/15/2034
|
25,542
|
|
|
110,000
|
5.70%, 09/15/2055
|
103,529
|
|
|
52,000
|
6.10%, 09/15/2053
|
51,807
|
|
|
2,000
|
6.45%, 09/01/2054, (6.45% fixed rate
until 06/01/2034; 5 yr. USD CMT +
2.59% thereafter)(2)
|
2,090
|
|
|
|
Duke Energy Florida LLC
|
|
|
|
760,000
|
1.75%, 06/15/2030
|
682,061
|
|
|
9,000
|
2.50%, 12/01/2029
|
8,445
|
|
|
60,000
|
3.40%, 10/01/2046
|
42,804
|
|
|
245,000
|
4.85%, 12/01/2035(6)
|
240,572
|
|
|
25,000
|
5.65%, 04/01/2040
|
25,399
|
|
|
|
Duke Energy Indiana LLC
|
|
|
|
75,000
|
2.75%, 04/01/2050
|
45,374
|
|
|
1,211,000
|
3.25%, 10/01/2049
|
815,255
|
|
|
2,000
|
5.25%, 03/01/2034
|
2,044
|
|
|
30,000
|
6.45%, 04/01/2039
|
32,676
|
|
|
|
Duke Energy Ohio, Inc.
|
|
|
|
15,000
|
3.70%, 06/15/2046
|
11,140
|
|
|
105,000
|
4.30%, 02/01/2049
|
83,169
|
|
|
5,000
|
5.30%, 06/15/2035
|
5,069
|
|
|
|
Duke Energy Progress LLC
|
|
|
|
50,000
|
2.00%, 08/15/2031
|
44,140
|
|
|
341,000
|
3.70%, 10/15/2046
|
255,124
|
|
|
7,000
|
4.10%, 03/15/2043
|
5,765
|
|
|
45,000
|
4.20%, 08/15/2045
|
36,556
|
|
|
100,000
|
5.35%, 03/15/2053
|
93,135
|
|
|
|
Edison International
|
|
|
|
1,295,000
|
4.80%, 03/15/2031
|
1,264,090
|
|
|
105,000
|
5.00%, 05/05/2028
|
105,037
|
|
|
129,000
|
5.25%, 11/15/2028
|
129,590
|
|
|
379,000
|
5.25%, 03/15/2032
|
373,963
|
|
|
1,345,000
|
6.25%, 03/15/2030
|
1,390,302
|
|
|
|
Eversource Energy
|
|
|
|
160,000
|
1.65%, 08/15/2030
|
140,977
|
|
|
215,000
|
3.38%, 03/01/2032
|
197,707
|
|
|
1,525,000
|
4.45%, 12/15/2030
|
1,502,675
|
|
|
664,000
|
5.13%, 05/15/2033
|
664,882
|
|
|
264,000
|
5.50%, 01/01/2034
|
268,799
|
|
|
175,000
|
5.85%, 04/15/2031
|
182,519
|
|
|
37,000
|
5.95%, 02/01/2029
|
38,261
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Electric - 2.8% - (continued)
|
||
|
|
Georgia Power Co.
|
|
|
|
$ 100,000
|
3.70%, 01/30/2050
|
$73,020
|
|
|
598,000
|
4.30%, 03/15/2042
|
516,508
|
|
|
70,000
|
4.55%, 03/15/2030
|
70,198
|
|
|
222,000
|
4.75%, 09/01/2040
|
208,058
|
|
|
675,000
|
4.85%, 03/15/2031
|
683,588
|
|
|
8,000
|
5.13%, 05/15/2052
|
7,305
|
|
|
EUR
300,000
|
Iberdrola Finanzas SA 3.50%, 05/16/2035(5)
|
344,632
|
|
|
$ 335,000
|
Jersey Central Power & Light Co. 5.10%,
01/15/2035
|
333,845
|
|
|
174,000
|
NSTAR Electric Co. 4.85%, 03/01/2030
|
176,161
|
|
|
|
Ohio Edison Co.
|
|
|
|
30,000
|
4.95%, 12/15/2029(1)
|
30,319
|
|
|
305,000
|
5.50%, 01/15/2033(1)
|
312,842
|
|
|
|
Pacific Gas & Electric Co.
|
|
|
|
505,500
|
2.50%, 02/01/2031
|
454,726
|
|
|
611,000
|
3.30%, 08/01/2040
|
457,086
|
|
|
343,000
|
3.50%, 08/01/2050
|
226,576
|
|
|
252,413
|
4.50%, 07/01/2040
|
217,070
|
|
|
1,000
|
4.55%, 07/01/2030
|
989
|
|
|
266,000
|
4.60%, 06/15/2043
|
219,126
|
|
|
840,000
|
4.75%, 02/15/2044
|
701,884
|
|
|
685,000
|
5.05%, 10/15/2032
|
682,936
|
|
|
2,645,000
|
5.80%, 05/15/2034
|
2,712,516
|
|
|
1,152,000
|
5.90%, 06/15/2032
|
1,196,796
|
|
|
1,471,000
|
6.15%, 01/15/2033
|
1,542,033
|
|
|
105,000
|
6.15%, 03/01/2055
|
101,941
|
|
|
507,000
|
6.75%, 01/15/2053
|
529,382
|
|
|
469,000
|
6.95%, 03/15/2034
|
514,095
|
|
|
|
PacifiCorp
|
|
|
|
603,000
|
3.30%, 03/15/2051
|
386,537
|
|
|
55,000
|
4.10%, 02/01/2042
|
43,770
|
|
|
459,000
|
4.13%, 01/15/2049
|
346,142
|
|
|
65,000
|
5.10%, 04/15/2031
|
65,691
|
|
|
850,000
|
5.45%, 04/15/2033
|
865,972
|
|
|
25,000
|
5.50%, 05/15/2054
|
22,600
|
|
|
370,000
|
5.80%, 04/15/2036
|
379,781
|
|
|
1,027,000
|
7.13%, 08/15/2056, (7.13% fixed rate
until 05/17/2031; 5 yr. USD CMT +
3.29% thereafter)(2)
|
1,023,649
|
|
|
480,000
|
7.38%, 09/15/2055, (7.38% fixed rate
until 06/17/2030; 5 yr. USD CMT +
3.32% thereafter)(2)
|
486,658
|
|
|
3,000
|
7.70%, 11/15/2031
|
3,386
|
|
|
945,000
|
PG&E Corp. 6.85%, 09/15/2056, (6.85%
fixed rate until 06/15/2031; 5 yr. USD
CMT + 3.23% thereafter)(2)
|
944,811
|
|
|
|
Pinnacle West Capital Corp.
|
|
|
|
1,198,000
|
4.90%, 05/15/2028
|
1,208,378
|
|
|
1,487,000
|
5.15%, 05/15/2030
|
1,512,290
|
|
|
|
Public Service Co. of Oklahoma
|
|
|
|
73,000
|
2.20%, 08/15/2031
|
64,191
|
|
|
1,720,000
|
5.20%, 01/15/2035
|
1,708,123
|
|
|
9,000
|
5.45%, 01/15/2036
|
9,063
|
|
|
|
Public Service Enterprise Group, Inc.
|
|
|
|
305,000
|
5.45%, 04/01/2034
|
311,678
|
|
|
565,000
|
6.13%, 10/15/2033
|
599,710
|
|
|
|
Puget Energy, Inc.
|
|
|
|
251,000
|
4.10%, 06/15/2030
|
243,523
|
|
|
1,475,000
|
5.73%, 03/15/2035
|
1,483,761
|
|
|
|
Southern California Edison Co.
|
|
|
|
25,000
|
2.25%, 06/01/2030
|
22,643
|
|
|
5,000
|
2.50%, 06/01/2031
|
4,466
|
|
|
265,000
|
3.65%, 02/01/2050
|
181,255
|
|
|
|
78
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Electric - 2.8% - (continued)
|
||
|
$ 85,000
|
3.90%, 03/15/2043
|
$64,388
|
|
|
661,000
|
4.00%, 04/01/2047
|
488,016
|
|
|
488,000
|
4.05%, 03/15/2042
|
382,553
|
|
|
1,352,000
|
4.13%, 03/01/2048
|
1,009,421
|
|
|
70,000
|
4.50%, 09/01/2040
|
60,248
|
|
|
449,000
|
4.65%, 10/01/2043
|
374,545
|
|
|
1,145,000
|
5.15%, 06/01/2029
|
1,158,542
|
|
|
16,000
|
5.45%, 06/01/2031
|
16,376
|
|
|
1,094,000
|
5.45%, 06/01/2052
|
966,446
|
|
|
5,000
|
5.50%, 03/15/2040
|
4,814
|
|
|
816,000
|
5.70%, 03/01/2053
|
747,441
|
|
|
5,000
|
5.75%, 04/01/2035
|
5,065
|
|
|
230,000
|
5.88%, 12/01/2053
|
216,408
|
|
|
226,000
|
5.90%, 03/01/2055
|
212,767
|
|
|
|
Southern Co.
|
|
|
|
285,000
|
4.85%, 03/15/2035
|
277,319
|
|
|
318,000
|
5.50%, 03/15/2029
|
326,960
|
|
|
|
Southern Power Co.
|
|
|
|
45,000
|
4.25%, 10/01/2030
|
44,466
|
|
|
670,000
|
4.90%, 10/01/2035
|
648,818
|
|
|
10,000
|
5.15%, 09/15/2041
|
9,439
|
|
|
|
Southwestern Electric Power Co.
|
|
|
|
440,000
|
5.20%, 04/01/2036
|
434,084
|
|
|
670,000
|
5.90%, 04/01/2056
|
650,780
|
|
|
480,000
|
Trans-Allegheny Interstate Line Co. 5.00%,
01/15/2031(1)
|
486,949
|
|
|
|
Virginia Electric & Power Co.
|
|
|
|
159,000
|
2.45%, 12/15/2050
|
89,088
|
|
|
1,273,000
|
2.95%, 11/15/2051
|
787,293
|
|
|
65,000
|
4.63%, 05/15/2052
|
53,782
|
|
|
349,000
|
4.90%, 09/15/2035
|
341,432
|
|
|
3,115,000
|
4.95%, 03/15/2036
|
3,036,774
|
|
|
5,000
|
6.00%, 05/15/2037
|
5,282
|
|
|
70,000
|
6.35%, 11/30/2037
|
75,722
|
|
|
187,000
|
8.88%, 11/15/2038
|
244,262
|
|
|
1,440,000
|
WEC Energy Group, Inc. 4.75%, 01/15/2028
|
1,448,030
|
|
|
|
Xcel Energy, Inc.
|
|
|
|
150,000
|
1.75%, 03/15/2027
|
146,849
|
|
|
55,000
|
2.35%, 11/15/2031
|
48,381
|
|
|
640,000
|
4.75%, 03/21/2028
|
643,053
|
|
|
19,000
|
5.45%, 08/15/2033
|
19,409
|
|
|
715,000
|
5.60%, 04/15/2035
|
728,180
|
|
|
25,000
|
6.50%, 07/01/2036
|
26,946
|
|
|
1,000,000
|
XPLR Infrastructure Operating Partners LP
7.25%, 01/15/2029(1)(6)
|
1,039,933
|
|
|
|
|
|
63,889,492
|
|
|
Electronics - 0.1%
|
||
|
1,000,000
|
Ingram Micro, Inc. 4.75%, 05/15/2029(1)
|
982,662
|
|
|
EUR
390,000
|
Tyco Electronics Group SA 3.25%,
01/31/2033
|
445,406
|
|
|
|
|
|
1,428,068
|
|
|
Energy-Alternate Sources - 0.0%
|
||
|
$ 30,000
|
Arizona Public Service Co. 6.35%,
12/15/2032
|
32,025
|
|
|
133,000
|
Duke Energy Florida LLC 5.88%,
11/15/2033
|
141,079
|
|
|
|
Pacific Gas & Electric Co.
|
|
|
|
896,000
|
4.30%, 03/15/2045
|
701,184
|
|
|
215,000
|
6.70%, 04/01/2053
|
223,742
|
|
|
|
|
|
1,098,030
|
|
|
Entertainment - 0.2%
|
||
|
1,200,000
|
Cinemark USA, Inc. 7.00%, 08/01/2032(1)
|
1,240,164
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Entertainment - 0.2% - (continued)
|
||
|
$ 1,100,000
|
Great Canadian Gaming Corp./Raptor LLC
8.75%, 11/15/2029(1)
|
$1,072,513
|
|
|
600,000
|
Penn Entertainment, Inc. 4.13%,
07/01/2029(1)
|
571,055
|
|
|
1,000,000
|
Six Flags Entertainment Corp./Canada's
Wonderland Co./Millennium
Operations LLC 8.63%, 01/15/2032(1)
|
1,016,651
|
|
|
|
|
|
3,900,383
|
|
|
Environmental Control - 0.0%
|
||
|
EUR
285,000
|
Veralto Corp. 4.15%, 09/19/2031
|
340,636
|
|
|
|
Food - 0.6%
|
||
|
300,000
|
Barry Callebaut Services NV 3.75%,
02/19/2028(5)
|
354,305
|
|
|
|
Bellis Acquisition Co. PLC
|
|
|
|
306,000
|
8.00%, 07/01/2031(5)(6)
|
342,186
|
|
|
GBP
850,000
|
8.13%, 05/14/2030(5)
|
1,068,047
|
|
|
|
Campbell's Co.
|
|
|
|
$ 10,000
|
4.55%, 03/21/2031
|
9,705
|
|
|
420,000
|
5.40%, 03/21/2034
|
408,328
|
|
|
345,000
|
Chobani LLC/Chobani Finance Corp., Inc.
6.38%, 04/15/2034(1)
|
352,006
|
|
|
|
Conagra Brands, Inc.
|
|
|
|
173,000
|
5.00%, 08/01/2030
|
173,129
|
|
|
99,000
|
5.40%, 11/01/2048
|
84,529
|
|
|
1,000,000
|
Froneri Lux FinCo SARL 6.00%,
08/01/2032(1)
|
989,031
|
|
|
458,000
|
Industrial F&B Investments III, Inc. 7.75%,
02/11/2033(1)
|
462,812
|
|
|
|
JBS NV/JBS USA Foods Group Holdings,
Inc./JBS USA Food Co. Holdings
|
|
|
|
50,000
|
3.00%, 05/15/2032
|
44,547
|
|
|
350,000
|
5.50%, 01/15/2036
|
348,886
|
|
|
395,000
|
5.63%, 03/10/2037(1)
|
394,277
|
|
|
325,000
|
6.25%, 03/01/2056
|
313,609
|
|
|
2,785,000
|
6.38%, 04/15/2066
|
2,681,420
|
|
|
64,000
|
6.75%, 03/15/2034
|
69,554
|
|
|
365,000
|
7.25%, 11/15/2053
|
397,964
|
|
|
|
Mars, Inc.
|
|
|
|
180,000
|
3.60%, 04/01/2034(1)
|
163,978
|
|
|
580,000
|
5.20%, 03/01/2035(1)
|
585,176
|
|
|
4,830,000
|
5.65%, 05/01/2045(1)
|
4,752,606
|
|
|
140,000
|
Pilgrim's Pride Corp. 6.88%, 05/15/2034
|
152,072
|
|
|
|
|
|
14,148,167
|
|
|
Gas - 0.3%
|
||
|
2,625,000
|
MPLX LP 5.50%, 06/01/2034
|
2,657,090
|
|
|
|
NiSource, Inc.
|
|
|
|
91,000
|
1.70%, 02/15/2031
|
79,305
|
|
|
10,000
|
2.95%, 09/01/2029
|
9,516
|
|
|
15,000
|
3.60%, 05/01/2030
|
14,481
|
|
|
125,000
|
5.35%, 04/01/2034
|
127,678
|
|
|
1,195,000
|
5.35%, 07/15/2035
|
1,205,937
|
|
|
|
Southern California Gas Co.
|
|
|
|
44,000
|
4.13%, 06/01/2048
|
34,097
|
|
|
205,000
|
4.30%, 01/15/2049
|
162,914
|
|
|
15,000
|
5.75%, 06/01/2053
|
14,573
|
|
|
1,340,000
|
6.00%, 06/15/2055
|
1,344,005
|
|
|
1,025,000
|
Southern Co. Gas Capital Corp. 5.10%,
09/15/2035
|
1,013,118
|
|
|
|
|
|
6,662,714
|
|
|
Healthcare - Products - 0.4%
|
||
|
1,405,000
|
Augusta SpinCo Corp. 4.66%, 03/23/2031
|
1,401,940
|
|
|
1,370,000
|
Avantor Funding, Inc. 3.88%, 11/01/2029(1)
|
1,302,335
|
|
|
|
79
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Healthcare - Products - 0.4% - (continued)
|
||
|
|
Baxter International, Inc.
|
|
|
|
EUR
316,000
|
1.30%, 05/15/2029
|
$345,552
|
|
|
$ 2,005,000
|
2.54%, 02/01/2032
|
1,703,529
|
|
|
1,670,000
|
4.90%, 12/15/2030
|
1,652,752
|
|
|
2,223,000
|
Thermo Fisher Scientific, Inc. 4.47%,
10/07/2032
|
2,197,480
|
|
|
|
|
|
8,603,588
|
|
|
Healthcare - Services - 0.2%
|
||
|
|
Acadia Healthcare Co., Inc.
|
|
|
|
350,000
|
5.00%, 04/15/2029(1)
|
342,484
|
|
|
500,000
|
7.38%, 03/15/2033(1)(6)
|
511,446
|
|
|
|
CHS/Community Health Systems, Inc.
|
|
|
|
500,000
|
4.75%, 02/15/2031(1)
|
467,843
|
|
|
300,000
|
6.88%, 04/15/2029(1)
|
295,154
|
|
|
160,000
|
10.88%, 01/15/2032(1)
|
171,838
|
|
|
|
Humana, Inc.
|
|
|
|
590,000
|
5.55%, 05/01/2035
|
586,237
|
|
|
1,005,000
|
5.95%, 03/15/2034
|
1,030,984
|
|
|
1,100,000
|
Star Parent, Inc. 9.00%, 10/01/2030(1)
|
1,152,309
|
|
|
|
|
|
4,558,295
|
|
|
Insurance - 0.5%
|
||
|
1,000,000
|
Alliant Holdings Intermediate LLC/Alliant
Holdings Co-Issuer 7.00%, 01/15/2031(1)
|
1,020,593
|
|
|
|
Allianz SE
|
|
|
|
EUR
300,000
|
4.25%, 07/05/2052, (4.25% fixed rate
until 01/05/2032; 3 mo. EURIBOR +
3.55% thereafter)(2)(5)
|
355,933
|
|
|
$ 400,000
|
5.10%, 01/30/2049, (5.10% fixed rate
until 01/30/2029; 3 mo. USD Term
SOFR + 3.70% thereafter)(2)(5)
|
401,023
|
|
|
80,000
|
American National Global Funding 4.88%,
01/23/2031(1)
|
78,695
|
|
|
EUR
125,000
|
ASR Nederland NV 7.00%, 12/07/2043,
(7.00% fixed rate until 09/07/2033; 5 yr.
EUR Swap + 5.30% thereafter)(2)(5)
|
170,319
|
|
|
|
Asurion LLC/Asurion Co-Issuer, Inc.
|
|
|
|
$ 725,000
|
8.00%, 12/31/2032(1)
|
757,327
|
|
|
355,000
|
8.38%, 02/01/2034(1)
|
350,246
|
|
|
|
Athene Global Funding
|
|
|
|
961,000
|
2.55%, 11/19/2030(1)
|
854,364
|
|
|
EUR
149,000
|
3.41%, 02/25/2030(5)
|
171,242
|
|
|
$ 275,000
|
5.53%, 07/11/2031(1)
|
276,231
|
|
|
295,000
|
5.58%, 01/09/2029(1)
|
299,049
|
|
|
|
Athene Holding Ltd.
|
|
|
|
25,000
|
3.50%, 01/15/2031
|
23,262
|
|
|
1,040,000
|
5.88%, 01/15/2034(6)
|
1,046,300
|
|
|
25,000
|
6.15%, 04/03/2030
|
25,831
|
|
|
GBP
265,000
|
Aviva PLC 4.00%, 06/03/2055, (4.00% fixed
rate until 03/03/2035; 5 yr. U.K.
Government Bond + 4.70%
thereafter)(2)(5)
|
300,156
|
|
|
EUR
120,000
|
AXA SA 6.38%, 07/16/2033, (6.38% fixed
rate until 07/16/2033; 5 yr. EURIBOR ICE
Swap + 3.84% thereafter)(2)(5)(7)
|
149,318
|
|
|
$ 164,000
|
CNO Financial Group, Inc. 6.45%,
06/15/2034
|
170,310
|
|
|
|
GA Global Funding Trust
|
|
|
|
875,000
|
4.50%, 09/18/2030(1)
|
849,289
|
|
|
985,000
|
5.20%, 12/09/2031(1)
|
972,185
|
|
|
150,000
|
5.50%, 01/08/2029(1)
|
151,863
|
|
|
|
Global Atlantic Fin Co.
|
|
|
|
780,000
|
3.13%, 06/15/2031(1)
|
694,256
|
|
|
91,000
|
6.75%, 03/15/2054(1)
|
85,975
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Insurance - 0.5% - (continued)
|
||
|
$ 453,000
|
Lincoln National Corp. 9.25%, 12/01/2027,
(9.25% fixed rate until 12/01/2027; 5 yr.
USD CMT + 5.32% thereafter)(2)(6)(7)
|
$479,173
|
|
|
EUR
291,000
|
Metropolitan Life Global Funding I 3.25%,
03/31/2030(5)
|
339,107
|
|
|
|
Muenchener
Rueckversicherungs-Gesellschaft AG in
Muenchen
|
|
|
|
300,000
|
1.25%, 05/26/2041, (1.25% fixed rate
until 11/26/2030; 3 mo. EURIBOR +
2.55% thereafter)(2)(5)
|
314,323
|
|
|
200,000
|
4.25%, 05/26/2044, (4.25% fixed rate
until 11/26/2033; 3 mo. EURIBOR +
2.60% thereafter)(2)(5)
|
235,538
|
|
|
$ 200,000
|
SCOR SE 5.25%, 03/13/2029, (5.25% fixed
rate until 03/13/2029; 5 yr. USD CMT +
2.37% thereafter)(2)(5)(7)
|
191,623
|
|
|
EUR
200,000
|
Unipol Assicurazioni SpA 6.38%,
04/27/2030, (6.38% fixed rate until
04/27/2030; 5 yr. EUR Swap + 6.74%
thereafter)(2)(5)(7)
|
244,761
|
|
|
$ 335,000
|
Zurich Finance Ireland Designated Activity
Co. 3.00%, 04/19/2051, (3.00% fixed rate
until 01/19/2031; 5 yr. USD CMT + 2.78%
thereafter)(2)(5)
|
301,145
|
|
|
|
|
|
11,309,437
|
|
|
Internet - 1.0%
|
||
|
|
Alphabet, Inc.
|
|
|
|
EUR
224,000
|
4.00%, 11/06/2044
|
251,866
|
|
|
$ 25,000
|
5.25%, 05/15/2055
|
23,256
|
|
|
1,740,000
|
5.30%, 05/15/2065
|
1,584,802
|
|
|
2,291,000
|
5.70%, 11/15/2075
|
2,192,586
|
|
|
495,000
|
5.75%, 02/15/2066
|
481,601
|
|
|
GBP
100,000
|
6.13%, 02/13/2126
|
125,813
|
|
|
|
Amazon.com, Inc.
|
|
|
|
$ 7,000
|
2.70%, 06/03/2060
|
3,803
|
|
|
EUR
239,000
|
4.05%, 03/16/2039
|
277,426
|
|
|
$ 5,000
|
4.10%, 04/13/2062
|
3,689
|
|
|
EUR
370,000
|
4.45%, 03/16/2045
|
431,281
|
|
|
$ 830,000
|
5.55%, 11/20/2065
|
774,411
|
|
|
2,475,000
|
5.95%, 03/13/2066
|
2,441,181
|
|
|
105,000
|
6.05%, 03/13/2076
|
103,424
|
|
|
165,000
|
Beignet Investor LLC 6.58%, 05/30/2049(1)
|
170,402
|
|
|
EUR
200,000
|
iliad SA 4.25%, 01/09/2032(5)
|
232,372
|
|
|
|
Meta Platforms, Inc.
|
|
|
|
$ 210,000
|
5.50%, 11/15/2045
|
195,115
|
|
|
1,805,000
|
5.55%, 08/15/2064
|
1,593,327
|
|
|
70,000
|
5.75%, 05/15/2063
|
64,533
|
|
|
3,355,000
|
5.75%, 11/15/2065
|
3,052,760
|
|
|
465,000
|
6.20%, 05/15/2046
|
465,562
|
|
|
5,165,000
|
6.45%, 05/15/2066
|
5,153,920
|
|
|
|
Rakuten Group, Inc.
|
|
|
|
EUR
200,000
|
4.25%, 04/22/2027, (4.25% fixed rate
until 04/22/2027; 5 yr. EUR Swap +
4.74% thereafter)(2)(5)(7)
|
229,046
|
|
|
$ 214,000
|
9.75%, 04/15/2029(5)
|
234,311
|
|
|
EUR
1,000,000
|
United Group BV 6.50%, 10/31/2031(1)
|
1,193,463
|
|
|
$ 1,200,000
|
Wayfair LLC 7.25%, 10/31/2029(1)
|
1,229,728
|
|
|
|
|
|
22,509,678
|
|
|
Investment Company Security - 0.5%
|
||
|
|
Ares Strategic Income Fund
|
|
|
|
1,295,000
|
5.15%, 01/15/2031(1)
|
1,236,349
|
|
|
65,000
|
5.45%, 09/09/2028(1)
|
64,521
|
|
|
|
80
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Investment Company Security - 0.5% - (continued)
|
||
|
$ 1,925,000
|
5.55%, 04/15/2031(1)
|
$1,867,270
|
|
|
1,375,000
|
5.80%, 09/09/2030(1)
|
1,351,879
|
|
|
480,000
|
6.20%, 03/21/2032
|
476,197
|
|
|
|
Blackstone Private Credit Fund
|
|
|
|
910,000
|
5.95%, 07/16/2029
|
910,560
|
|
|
930,000
|
5.95%, 05/15/2031
|
914,654
|
|
|
|
HA Sustainable Infrastructure Capital, Inc.
|
|
|
|
160,000
|
7.13%, 11/15/2056, (7.13% fixed rate
until 08/17/2031; 5 yr. USD CMT +
3.48% thereafter)(2)
|
161,517
|
|
|
162,000
|
8.00%, 06/01/2056, (8.00% fixed rate
until 03/01/2031; 5 yr. USD CMT +
4.30% thereafter)(2)
|
171,963
|
|
|
|
HPS Corporate Lending Fund
|
|
|
|
230,000
|
5.15%, 04/02/2029(1)
|
225,204
|
|
|
618,000
|
5.45%, 11/15/2030
|
597,971
|
|
|
2,010,000
|
5.65%, 04/02/2031(1)
|
1,959,372
|
|
|
1,038,000
|
5.85%, 06/05/2030
|
1,023,463
|
|
|
EUR
200,000
|
JAB Holdings BV 4.75%, 06/29/2032(5)
|
246,241
|
|
|
$ 104,000
|
Sixth Street Lending Partners 5.75%,
01/15/2030
|
103,410
|
|
|
|
|
|
11,310,571
|
|
|
IT Services - 0.1%
|
||
|
1,475,000
|
McAfee Corp. 7.38%, 02/15/2030(1)
|
1,195,125
|
|
|
|
Leisure Time - 0.0%
|
||
|
|
NCL Corp. Ltd.
|
|
|
|
500,000
|
6.25%, 03/01/2030(1)
|
498,828
|
|
|
600,000
|
6.75%, 02/01/2032(1)
|
597,056
|
|
|
|
|
|
1,095,884
|
|
|
Lodging - 0.0%
|
||
|
400,000
|
Studio City Finance Ltd. 5.00%,
01/15/2029(5)
|
381,212
|
|
|
200,000
|
Wynn Macau Ltd. 5.63%, 08/26/2028(5)
|
199,108
|
|
|
|
|
|
580,320
|
|
|
Machinery-Diversified - 0.1%
|
||
|
800,000
|
CompoSecure Holdings LLC 5.63%,
02/01/2033(1)
|
784,152
|
|
|
|
Westinghouse Air Brake Technologies Corp.
|
|
|
|
1,337,000
|
4.90%, 05/29/2030
|
1,352,919
|
|
|
9,000
|
5.61%, 03/11/2034
|
9,281
|
|
|
|
|
|
2,146,352
|
|
|
Media - 0.8%
|
||
|
|
CCO Holdings LLC/CCO Holdings Capital
Corp.
|
|
|
|
1,600,000
|
4.25%, 02/01/2031(1)
|
1,453,220
|
|
|
209,000
|
5.00%, 02/01/2028(1)
|
206,547
|
|
|
325,000
|
7.38%, 02/01/2036(1)(6)
|
318,617
|
|
|
|
Charter Communications
Operating LLC/Charter Communications
Operating Capital
|
|
|
|
25,000
|
2.30%, 02/01/2032
|
21,364
|
|
|
20,000
|
3.50%, 06/01/2041
|
13,874
|
|
|
985,000
|
3.70%, 04/01/2051
|
604,359
|
|
|
481,000
|
3.85%, 04/01/2061
|
277,943
|
|
|
1,950,000
|
5.13%, 07/01/2049
|
1,490,256
|
|
|
100,000
|
5.38%, 04/01/2038
|
89,879
|
|
|
1,165,000
|
5.38%, 05/01/2047
|
931,255
|
|
|
90,000
|
5.50%, 04/01/2063
|
68,798
|
|
|
3,712,000
|
5.75%, 04/01/2048
|
3,107,132
|
|
|
202,000
|
6.48%, 10/23/2045
|
186,110
|
|
|
25,000
|
6.83%, 10/23/2055
|
23,398
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Media - 0.8% - (continued)
|
||
|
|
Comcast Corp.
|
|
|
|
$ 465,000
|
2.80%, 01/15/2051
|
$264,150
|
|
|
1,989,000
|
2.89%, 11/01/2051
|
1,142,257
|
|
|
135,000
|
2.94%, 11/01/2056
|
74,320
|
|
|
300,000
|
3.40%, 07/15/2046
|
204,440
|
|
|
583,000
|
3.75%, 04/01/2040
|
472,403
|
|
|
90,000
|
4.95%, 10/15/2058
|
73,327
|
|
|
25,000
|
6.05%, 05/15/2055(6)
|
24,567
|
|
|
15,000
|
6.50%, 11/15/2035
|
16,427
|
|
|
|
Cox Communications, Inc.
|
|
|
|
45,000
|
4.50%, 06/30/2043(1)
|
33,961
|
|
|
165,000
|
4.60%, 08/15/2047(1)
|
119,239
|
|
|
35,000
|
4.70%, 12/15/2042(1)
|
27,015
|
|
|
75,000
|
5.80%, 12/15/2053(1)
|
63,302
|
|
|
1,250,000
|
5.95%, 09/01/2054(1)
|
1,073,989
|
|
|
600,000
|
Directv Financing LLC/Directv Financing
Co-Obligor, Inc. 10.00%, 02/15/2031(1)
|
624,294
|
|
|
600
|
Discovery Communications LLC 3.95%,
03/20/2028
|
558
|
|
|
|
Paramount Global
|
|
|
|
212,000
|
2.90%, 01/15/2027
|
208,600
|
|
|
105,000
|
4.60%, 01/15/2045
|
65,619
|
|
|
16,000
|
4.90%, 08/15/2044
|
10,493
|
|
|
675,000
|
5.25%, 04/01/2044
|
456,950
|
|
|
385,000
|
5.85%, 09/01/2043
|
282,616
|
|
|
5,000
|
5.90%, 10/15/2040
|
3,882
|
|
|
560,000
|
6.88%, 04/30/2036
|
520,941
|
|
|
55,000
|
7.88%, 07/30/2030
|
58,526
|
|
|
1,350,000
|
Scripps Escrow II, Inc. 3.88%,
01/15/2029(1)(6)
|
1,279,176
|
|
|
|
Time Warner Cable LLC
|
|
|
|
96,000
|
5.50%, 09/01/2041
|
82,784
|
|
|
363,000
|
5.88%, 11/15/2040
|
328,232
|
|
|
100,000
|
6.55%, 05/01/2037
|
100,481
|
|
|
140,000
|
6.75%, 06/15/2039
|
138,856
|
|
|
315,000
|
7.30%, 07/01/2038
|
329,377
|
|
|
|
|
|
16,873,534
|
|
|
Mining - 0.3%
|
||
|
|
Anglo American Capital PLC
|
|
|
|
1,390,000
|
3.88%, 03/16/2029(1)
|
1,365,197
|
|
|
EUR
115,000
|
5.00%, 03/15/2031(5)
|
142,780
|
|
|
150,000
|
Constellium SE 3.13%, 07/15/2029(5)
|
170,964
|
|
|
|
Glencore Capital Finance DAC
|
|
|
|
365,000
|
3.67%, 10/06/2032(5)
|
423,191
|
|
|
140,000
|
4.15%, 04/29/2031(5)
|
167,800
|
|
|
|
Glencore Funding LLC
|
|
|
|
$ 180,000
|
5.37%, 04/04/2029(1)
|
183,595
|
|
|
490,000
|
5.63%, 04/04/2034(1)
|
503,599
|
|
|
175,000
|
5.67%, 04/01/2035(1)
|
179,509
|
|
|
490,000
|
5.70%, 05/08/2033(1)
|
506,208
|
|
|
616,000
|
6.38%, 10/06/2030(1)
|
652,992
|
|
|
590,000
|
6.50%, 10/06/2033(1)
|
640,275
|
|
|
|
Kaiser Aluminum Corp.
|
|
|
|
620,000
|
4.50%, 06/01/2031(1)
|
594,746
|
|
|
600,000
|
5.88%, 03/01/2034(1)
|
600,938
|
|
|
|
|
|
6,131,794
|
|
|
Oil & Gas - 0.8%
|
||
|
|
Aker BP ASA
|
|
|
|
213,000
|
4.00%, 01/15/2031(1)
|
204,562
|
|
|
595,000
|
5.25%, 10/30/2035(1)
|
581,118
|
|
|
|
APA Corp.
|
|
|
|
94,000
|
5.10%, 09/01/2040
|
85,833
|
|
|
75,000
|
6.75%, 02/15/2055
|
76,650
|
|
|
|
81
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Oil & Gas - 0.8% - (continued)
|
||
|
EUR
155,000
|
BP Capital Markets PLC 2.82%,
04/07/2032(5)
|
$175,109
|
|
|
|
ConocoPhillips Co.
|
|
|
|
$ 1,295,000
|
3.80%, 03/15/2052
|
946,612
|
|
|
404,000
|
4.03%, 03/15/2062
|
291,056
|
|
|
647,000
|
5.70%, 09/15/2063
|
623,930
|
|
|
|
Diamondback Energy, Inc.
|
|
|
|
1,215,000
|
5.40%, 04/18/2034
|
1,239,685
|
|
|
1,153,000
|
5.90%, 04/18/2064
|
1,112,269
|
|
|
83,000
|
6.25%, 03/15/2033
|
88,991
|
|
|
373,000
|
6.25%, 03/15/2053
|
380,864
|
|
|
|
Ecopetrol SA
|
|
|
|
1,455,000
|
7.75%, 02/01/2032
|
1,490,975
|
|
|
1,295,000
|
8.38%, 01/19/2036
|
1,341,845
|
|
|
870,000
|
Energean Israel Finance Ltd. 5.88%,
03/30/2031(5)
|
832,861
|
|
|
1,000,000
|
Matador Resources Co. 6.50%,
04/15/2032(1)
|
1,021,164
|
|
|
|
Petroleos Mexicanos
|
|
|
|
2,850,000
|
5.95%, 01/28/2031
|
2,788,398
|
|
|
2,465,000
|
6.35%, 02/12/2048
|
1,981,000
|
|
|
850,000
|
Saudi Arabian Oil Co. 6.38%, 06/02/2055(1)
|
866,032
|
|
|
1,250,000
|
SM Energy Co. 6.75%, 08/01/2029(1)
|
1,282,245
|
|
|
883,000
|
Talos Production, Inc. 9.00%, 02/01/2029(1)
|
921,169
|
|
|
|
TotalEnergies Capital SA
|
|
|
|
50,000
|
4.72%, 09/10/2034
|
49,688
|
|
|
30,000
|
5.28%, 09/10/2054
|
28,055
|
|
|
EUR
115,000
|
Var Energi ASA 7.86%, 11/15/2083, (7.86%
fixed rate until 11/15/2028; 5 yr.
EURIBOR ICE Swap + 4.77%
thereafter)(2)(5)
|
145,963
|
|
|
|
|
|
18,556,074
|
|
|
Oil & Gas Services - 0.1%
|
||
|
$ 1,100,000
|
USA Compression Partners LP/USA
Compression Finance Corp. 6.25%,
10/01/2033(1)
|
1,110,022
|
|
|
|
Packaging & Containers - 0.1%
|
||
|
|
Clydesdale Acquisition Holdings, Inc.
|
|
|
|
650,000
|
6.63%, 04/15/2029(1)
|
639,777
|
|
|
525,000
|
8.75%, 04/15/2030(1)
|
476,346
|
|
|
600,000
|
Mauser Packaging Solutions Holding Co.
9.25%, 04/15/2030(1)
|
571,837
|
|
|
793,000
|
TriMas Corp. 4.13%, 04/15/2029(1)
|
762,909
|
|
|
|
|
|
2,450,869
|
|
|
Pharmaceuticals - 0.3%
|
||
|
|
Cardinal Health, Inc.
|
|
|
|
5,000
|
4.37%, 06/15/2047
|
4,051
|
|
|
2,960,000
|
4.50%, 09/15/2030
|
2,944,701
|
|
|
45,000
|
4.60%, 03/15/2043
|
38,735
|
|
|
10,000
|
4.90%, 09/15/2045
|
8,785
|
|
|
335,000
|
5.45%, 02/15/2034
|
342,227
|
|
|
145,000
|
CVS Health Corp. 7.00%, 03/10/2055,
(7.00% fixed rate until 12/10/2029; 5 yr.
USD CMT + 2.89% thereafter)(2)
|
150,440
|
|
|
EUR
255,000
|
Teva Pharmaceutical Finance Netherlands
II BV 4.38%, 05/09/2030
|
302,388
|
|
|
$ 800,000
|
Teva Pharmaceutical Finance Netherlands
III BV 6.00%, 12/01/2032
|
833,008
|
|
|
EUR
225,000
|
Upjohn Finance BV 1.91%, 06/23/2032(5)
|
232,531
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Pharmaceuticals - 0.3% - (continued)
|
||
|
|
Viatris, Inc.
|
|
|
|
$ 1,305,000
|
3.85%, 06/22/2040
|
$1,002,376
|
|
|
1,824,000
|
4.00%, 06/22/2050
|
1,210,560
|
|
|
|
|
|
7,069,802
|
|
|
Pipelines - 1.2%
|
||
|
|
Buckeye Partners LP
|
|
|
|
250,000
|
5.85%, 11/15/2043
|
228,977
|
|
|
1,000,000
|
6.75%, 02/01/2030(1)
|
1,034,485
|
|
|
100,000
|
Cheniere Energy, Inc. 5.20%, 07/30/2036(1)
|
98,860
|
|
|
|
Columbia Pipelines Holding Co. LLC
|
|
|
|
915,000
|
5.00%, 11/17/2032(1)
|
908,691
|
|
|
445,000
|
5.10%, 10/01/2031(1)
|
448,938
|
|
|
|
Enbridge, Inc.
|
|
|
|
15,000
|
4.00%, 11/15/2049
|
11,298
|
|
|
375,000
|
4.85%, 03/27/2031
|
376,542
|
|
|
1,425,000
|
5.45%, 03/27/2036
|
1,440,001
|
|
|
15,000
|
5.63%, 04/05/2034
|
15,480
|
|
|
175,000
|
5.75%, 07/15/2080, (5.75% fixed rate
until 04/15/2030; 5 yr. USD CMT +
5.31% thereafter)(2)
|
176,020
|
|
|
130,000
|
8.50%, 01/15/2084, (8.50% fixed rate
until 10/15/2033; 5 yr. USD CMT +
4.43% thereafter)(2)
|
148,084
|
|
|
|
Energy Transfer LP
|
|
|
|
205,000
|
5.15%, 02/01/2043
|
182,830
|
|
|
20,000
|
5.15%, 03/15/2045
|
17,535
|
|
|
100,000
|
5.35%, 05/15/2045
|
89,733
|
|
|
200,000
|
5.95%, 10/01/2043
|
194,690
|
|
|
50,000
|
6.00%, 06/15/2048
|
47,934
|
|
|
71,000
|
6.20%, 04/01/2055
|
69,080
|
|
|
126,000
|
7.38%, 02/01/2031(1)
|
130,494
|
|
|
165,000
|
8.00%, 05/15/2054, (8.00% fixed rate
until 02/15/2029; 5 yr. USD CMT +
4.02% thereafter)(2)
|
174,904
|
|
|
|
Enterprise Products Operating LLC
|
|
|
|
455,000
|
3.70%, 01/31/2051
|
331,782
|
|
|
1,000
|
4.20%, 01/31/2050
|
800
|
|
|
255,000
|
4.90%, 05/15/2046
|
228,392
|
|
|
25,000
|
5.10%, 02/15/2045
|
23,212
|
|
|
25,000
|
6.88%, 03/01/2033
|
27,986
|
|
|
|
Galaxy Pipeline Assets Bidco Ltd.
|
|
|
|
1,240,000
|
2.63%, 03/31/2036(5)
|
1,076,288
|
|
|
853,154
|
2.94%, 09/30/2040(1)
|
703,235
|
|
|
|
Greensaif Pipelines Bidco SARL
|
|
|
|
525,000
|
5.85%, 02/23/2036(1)
|
535,908
|
|
|
1,350,000
|
6.13%, 02/23/2038(5)
|
1,397,823
|
|
|
2,734,000
|
Hess Midstream Operations LP 4.25%,
02/15/2030(1)
|
2,651,589
|
|
|
|
MPLX LP
|
|
|
|
1,458,000
|
5.00%, 01/15/2033
|
1,451,135
|
|
|
2,000
|
5.00%, 03/01/2033
|
1,990
|
|
|
75,000
|
5.20%, 03/01/2047
|
66,142
|
|
|
225,000
|
5.30%, 04/01/2036
|
220,991
|
|
|
20,000
|
5.95%, 04/01/2055(6)
|
19,059
|
|
|
85,000
|
6.20%, 09/15/2055
|
83,751
|
|
|
1,300,000
|
Northriver Midstream Finance LP 6.75%,
07/15/2032(1)
|
1,331,037
|
|
|
|
ONEOK, Inc.
|
|
|
|
325,000
|
4.75%, 10/15/2031
|
323,007
|
|
|
1,382,000
|
5.05%, 11/01/2034
|
1,354,629
|
|
|
510,000
|
5.05%, 04/01/2045
|
441,196
|
|
|
150,000
|
5.15%, 10/15/2043
|
132,902
|
|
|
155,000
|
5.70%, 11/01/2054
|
141,353
|
|
|
1,475,000
|
6.05%, 09/01/2033
|
1,551,525
|
|
|
|
82
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Pipelines - 1.2% - (continued)
|
||
|
$ 60,000
|
6.10%, 11/15/2032
|
$63,329
|
|
|
150,000
|
6.25%, 10/15/2055
|
147,403
|
|
|
115,000
|
7.15%, 01/15/2051
|
125,094
|
|
|
1,100,000
|
Rockies Express Pipeline LLC 6.75%,
03/15/2033(1)
|
1,146,888
|
|
|
|
Targa Resources Corp.
|
|
|
|
715,000
|
4.35%, 04/15/2031
|
700,849
|
|
|
1,300,000
|
5.40%, 07/30/2036
|
1,293,029
|
|
|
40,000
|
6.13%, 05/15/2055
|
39,301
|
|
|
|
Targa Resources Partners LP/Targa
Resources Partners Finance Corp.
|
|
|
|
69,000
|
4.00%, 01/15/2032
|
65,693
|
|
|
25,000
|
4.88%, 02/01/2031
|
24,990
|
|
|
155,000
|
Transcanada Trust 5.60%, 03/07/2082,
(5.60% fixed rate until 12/07/2031; 5 yr.
USD CMT + 3.99% thereafter)(2)
|
153,107
|
|
|
1,100,000
|
Venture Global Plaquemines LNG LLC
7.50%, 05/01/2033(1)
|
1,219,859
|
|
|
|
Williams Cos., Inc.
|
|
|
|
970,000
|
5.15%, 03/15/2036
|
956,025
|
|
|
360,000
|
5.65%, 03/15/2033
|
372,804
|
|
|
|
|
|
26,198,679
|
|
|
Real Estate - 0.0%
|
||
|
EUR
155,000
|
CPI Property Group SA 1.75%,
01/14/2030(5)
|
157,144
|
|
|
160,000
|
Samhallsbyggnadsbolaget I Norden Holding
AB 1.13%, 09/26/2029(5)
|
154,451
|
|
|
200,000
|
Shurgard Luxembourg SARL 4.00%,
05/27/2035(5)
|
227,799
|
|
|
|
|
|
539,394
|
|
|
Real Estate Investment Trusts - 0.5%
|
||
|
$ 100,000
|
Boston Properties LP 2.45%, 10/01/2033
|
81,652
|
|
|
EUR
200,000
|
Carmila SA 3.75%, 01/13/2033(5)
|
228,808
|
|
|
$ 170,000
|
Cousins Properties LP 4.88%, 03/01/2033
|
164,516
|
|
|
977,000
|
GLP Capital LP/GLP Financing II, Inc.
5.63%, 03/01/2036
|
960,165
|
|
|
EUR
145,000
|
Hammerson PLC 3.50%, 04/15/2032(5)
|
164,945
|
|
|
|
Hudson Pacific Properties LP
|
|
|
|
$ 799,000
|
4.65%, 04/01/2029(6)
|
715,029
|
|
|
500,000
|
5.95%, 02/15/2028
|
487,214
|
|
|
EUR
140,000
|
Immobiliare Grande Distribuzione SIIQ SpA
4.45%, 11/04/2030(5)
|
164,845
|
|
|
150,000
|
Iron Mountain, Inc. 4.75%, 01/15/2034(5)
|
170,286
|
|
|
|
Kilroy Realty LP
|
|
|
|
$ 100,000
|
2.65%, 11/15/2033
|
80,246
|
|
|
360,000
|
3.05%, 02/15/2030
|
330,957
|
|
|
3,325,000
|
5.88%, 10/15/2035
|
3,232,397
|
|
|
84,000
|
Piedmont Operating Partnership LP 6.88%,
07/15/2029
|
88,109
|
|
|
EUR
453,000
|
Prologis Euro Finance LLC 3.25%,
09/22/2032
|
517,237
|
|
|
|
Prologis Targeted U.S. Logistics Fund LP
|
|
|
|
$ 610,000
|
4.25%, 01/15/2031(1)
|
598,130
|
|
|
1,575,000
|
4.75%, 01/15/2036(1)
|
1,509,603
|
|
|
25,000
|
5.25%, 04/01/2029(1)
|
25,487
|
|
|
75,000
|
5.50%, 04/01/2034(1)
|
76,256
|
|
|
EUR
148,000
|
Realty Income Corp. 3.88%, 06/20/2035
|
169,321
|
|
|
468,000
|
WP Carey, Inc. 3.75%, 05/10/2035
|
524,804
|
|
|
|
|
|
10,290,007
|
|
|
Retail - 0.3%
|
||
|
|
Bertrand Franchise Finance SAS
|
|
|
|
850,000
|
5.99%, 07/18/2030, 3 mo. EURIBOR +
3.75%(2)(5)
|
996,375
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Retail - 0.3% - (continued)
|
||
|
EUR
150,000
|
6.50%, 07/18/2030(5)(6)
|
$175,646
|
|
|
GBP
750,000
|
CD&R Firefly Bidco PLC 8.63%,
04/30/2029(5)
|
1,049,465
|
|
|
$ 625,000
|
LBM Acquisition LLC 9.50%, 06/15/2031(1)
|
546,865
|
|
|
1,316,000
|
Petco Health & Wellness Co., Inc. 8.25%,
02/01/2031(1)
|
1,328,997
|
|
|
1,050,000
|
Specialty Building Products
Holdings LLC/SBP Finance Corp. 7.75%,
10/15/2029(1)
|
926,721
|
|
|
1,229,000
|
Staples, Inc. 10.75%, 09/01/2029(1)
|
1,174,739
|
|
|
|
|
|
6,198,808
|
|
|
Semiconductors - 0.5%
|
||
|
|
Broadcom, Inc.
|
|
|
|
820,000
|
4.20%, 10/15/2030
|
809,832
|
|
|
1,385,000
|
5.20%, 07/15/2035
|
1,396,948
|
|
|
|
Foundry JV Holdco LLC
|
|
|
|
245,000
|
5.90%, 01/25/2033(1)
|
254,906
|
|
|
2,245,000
|
6.15%, 01/25/2032(1)
|
2,361,852
|
|
|
|
Intel Corp.
|
|
|
|
464,000
|
2.80%, 08/12/2041
|
324,813
|
|
|
219,000
|
3.05%, 08/12/2051
|
135,059
|
|
|
1,040,000
|
3.25%, 11/15/2049
|
671,094
|
|
|
2,754,000
|
3.73%, 12/08/2047
|
1,972,216
|
|
|
4,000
|
4.00%, 08/05/2029
|
3,934
|
|
|
113,000
|
4.10%, 05/11/2047
|
85,859
|
|
|
196,000
|
4.60%, 03/25/2040
|
175,210
|
|
|
490,000
|
4.75%, 03/25/2050
|
402,618
|
|
|
15,000
|
4.80%, 10/01/2041
|
13,329
|
|
|
15,000
|
4.90%, 07/29/2045
|
12,940
|
|
|
84,800
|
4.90%, 08/05/2052
|
70,705
|
|
|
15,000
|
5.05%, 08/05/2062
|
12,351
|
|
|
185,000
|
5.30%, 05/15/2036
|
184,223
|
|
|
9,000
|
5.63%, 02/10/2043
|
8,669
|
|
|
1,343,000
|
Qorvo, Inc. 3.38%, 04/01/2031(1)
|
1,227,004
|
|
|
|
|
|
10,123,562
|
|
|
Software - 1.0%
|
||
|
887,000
|
AthenaHealth Group, Inc. 6.50%,
02/15/2030(1)
|
845,442
|
|
|
130,000
|
Fidelity National Information Services, Inc.
4.45%, 03/10/2028
|
129,635
|
|
|
1,454,000
|
Open Text Corp. 3.88%, 12/01/2029(1)
|
1,310,473
|
|
|
|
Oracle Corp.
|
|
|
|
634,000
|
3.60%, 04/01/2040
|
457,172
|
|
|
2,243,000
|
3.60%, 04/01/2050
|
1,342,939
|
|
|
672,000
|
3.65%, 03/25/2041
|
476,743
|
|
|
50,000
|
3.85%, 07/15/2036
|
41,195
|
|
|
846,000
|
3.85%, 04/01/2060
|
490,200
|
|
|
1,893,000
|
3.95%, 03/25/2051
|
1,189,903
|
|
|
100,000
|
4.00%, 07/15/2046
|
66,747
|
|
|
10,000
|
4.10%, 03/25/2061
|
6,059
|
|
|
262,000
|
4.13%, 05/15/2045
|
179,532
|
|
|
365,000
|
4.20%, 09/27/2029
|
354,834
|
|
|
720,000
|
4.30%, 07/08/2034
|
640,432
|
|
|
50,000
|
4.50%, 07/08/2044
|
36,868
|
|
|
1,705,000
|
4.70%, 09/27/2034
|
1,557,082
|
|
|
3,905,000
|
4.80%, 09/26/2032
|
3,713,128
|
|
|
1,840,000
|
5.35%, 05/04/2033
|
1,789,161
|
|
|
128,000
|
5.38%, 07/15/2040
|
111,511
|
|
|
942,000
|
5.50%, 09/27/2064
|
716,650
|
|
|
824,000
|
5.55%, 02/06/2053
|
655,467
|
|
|
70,000
|
6.00%, 08/03/2055
|
58,687
|
|
|
335,000
|
6.10%, 09/26/2065
|
276,751
|
|
|
25,000
|
6.13%, 08/03/2065
|
20,843
|
|
|
|
83
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Software - 1.0% - (continued)
|
||
|
$ 2,280,000
|
6.85%, 02/04/2066
|
$2,094,845
|
|
|
|
Rocket Software, Inc.
|
|
|
|
700,000
|
6.50%, 02/15/2029(1)(6)
|
625,030
|
|
|
725,000
|
9.00%, 11/28/2028(1)
|
721,412
|
|
|
|
Salesforce, Inc.
|
|
|
|
50,000
|
2.90%, 07/15/2051
|
28,992
|
|
|
1,164,000
|
6.40%, 03/15/2046
|
1,163,408
|
|
|
1,185,000
|
6.70%, 03/15/2066
|
1,189,851
|
|
|
|
|
|
22,290,992
|
|
|
Telecommunications - 0.8%
|
||
|
|
Altice France SA
|
|
|
|
700,000
|
6.50%, 04/15/2032(1)
|
688,475
|
|
|
500,000
|
6.88%, 07/15/2032(1)
|
491,830
|
|
|
960,000
|
AT&T, Inc. 6.30%, 10/30/2066
|
946,887
|
|
|
150,000
|
Black Pearl Compute LLC 6.13%,
02/15/2031(1)
|
152,188
|
|
|
GBP
215,000
|
British Telecommunications PLC 8.38%,
12/20/2083, (8.38% fixed rate until
09/20/2028; 5 yr. U.K. Government Bond
+ 3.82% thereafter)(2)(5)
|
307,125
|
|
|
$ 131,000
|
Cipher Compute LLC 7.13%, 11/15/2030(1)
|
135,783
|
|
|
1,250,000
|
EchoStar Corp. 6.75%, 11/30/2030(8)
|
1,268,271
|
|
|
1,980,000
|
HUT 8 DC LLC 6.19%, 11/15/2042(1)
|
1,996,388
|
|
|
EUR
1,000,000
|
Iliad Holding SAS 6.88%, 04/15/2031(5)
|
1,232,371
|
|
|
|
Level 3 Financing, Inc.
|
|
|
|
$ 600,000
|
7.00%, 03/31/2034(1)
|
622,336
|
|
|
395,000
|
8.50%, 01/15/2036(1)
|
423,049
|
|
|
125,000
|
Meridian Arc Holdco LLC 6.25%,
04/30/2031(1)
|
124,972
|
|
|
1,760,000
|
Orange SA 4.25%, 01/13/2031(1)
|
1,726,141
|
|
|
4,790,000
|
Road Michigan Property Owner I LLC
7.50%, 03/30/2045(1)
|
4,790,000
|
|
|
175,000
|
Rogers Communications, Inc. 6.88%,
07/31/2056, (6.88% fixed rate until
05/02/2031; 5 yr. USD CMT + 2.84%
thereafter)(2)
|
177,729
|
|
|
EUR
300,000
|
Telefonica Europe BV 6.75%, 06/07/2031,
(6.75% fixed rate until 06/07/2031; 8 yr.
EURIBOR ICE Swap + 3.62%
thereafter)(2)(5)(7)
|
380,325
|
|
|
|
T-Mobile USA, Inc.
|
|
|
|
$ 950,000
|
2.55%, 02/15/2031
|
863,808
|
|
|
105,000
|
3.50%, 04/15/2031
|
99,339
|
|
|
75,000
|
5.85%, 02/15/2056
|
72,093
|
|
|
EUR
275,000
|
Vodafone Group PLC 3.00%, 08/27/2080,
(3.00% fixed rate until 05/27/2030; 5 yr.
EUR Swap + 3.48% thereafter)(2)(5)
|
305,525
|
|
|
$ 1,155,000
|
WULF Compute LLC 7.75%, 10/15/2030(1)
|
1,213,899
|
|
|
|
|
|
18,018,534
|
|
|
Toys/Games/Hobbies - 0.0%
|
||
|
175,000
|
Hasbro, Inc. 4.65%, 03/12/2031
|
173,583
|
|
|
|
Transportation - 0.1%
|
||
|
|
Fedex Freight Holding Co., Inc.
|
|
|
|
1,152,000
|
4.65%, 03/15/2031(1)
|
1,135,831
|
|
|
1,015,000
|
4.95%, 03/15/2033(1)
|
996,947
|
|
|
|
|
|
2,132,778
|
|
|
Trucking & Leasing - 0.1%
|
||
|
|
Penske Truck Leasing Co. LP/PTL Finance
Corp.
|
|
|
|
1,295,000
|
4.55%, 01/15/2031(1)
|
1,281,543
|
|
|
105,000
|
5.25%, 02/01/2030(1)
|
106,463
|
|
|
|
|
|
1,388,006
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
CORPORATE BONDS - 18.2% - (continued)
|
|||
|
|
Water - 0.0%
|
||
|
EUR
147,000
|
Severn Trent Utilities Finance PLC 4.00%,
03/05/2034(5)
|
$173,956
|
|
|
|
SW Finance I PLC
|
|
|
|
GBP
445,000
|
5.75%, 11/19/2030(5)
|
592,769
|
|
|
121,000
|
6.88%, 08/07/2032(5)
|
166,812
|
|
|
124,000
|
Yorkshire Water Finance PLC 6.38%,
11/18/2034(5)
|
169,383
|
|
|
|
|
|
1,102,920
|
|
|
Total Corporate Bonds
(cost $412,562,491)
|
$407,930,204
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 2.3%
|
|||
|
|
Brazil - 0.0%
|
||
|
EUR
300,000
|
Brazil Government International Bonds
4.88%, 04/23/2033
|
$348,396
|
|
|
|
Bulgaria - 0.0%
|
||
|
255,000
|
Bulgaria Government International Bonds
4.13%, 05/07/2038(5)
|
295,794
|
|
|
|
Colombia - 0.2%
|
||
|
|
Colombia Government International Bonds
|
|
|
|
$ 3,365,000
|
3.25%, 04/22/2032
|
2,846,790
|
|
|
EUR
1,140,000
|
5.63%, 02/19/2036
|
1,264,715
|
|
|
|
|
|
4,111,505
|
|
|
Germany - 1.0%
|
||
|
|
Bundesobligation
|
|
|
|
3,101,537
|
2.10%, 04/12/2029(5)
|
3,582,409
|
|
|
5,393,662
|
2.20%, 10/10/2030(5)
|
6,191,722
|
|
|
1,096,813
|
2.50%, 04/16/2031(5)
|
1,272,231
|
|
|
|
Bundesrepublik Deutschland Bundesanleihe
|
|
|
|
87,919
|
2.30%, 02/15/2033(5)
|
99,674
|
|
|
1,944,375
|
2.50%, 11/15/2032(5)
|
2,235,091
|
|
|
2,812,083
|
2.50%, 02/15/2035(5)
|
3,178,639
|
|
|
907,433
|
2.60%, 05/15/2041(5)
|
970,669
|
|
|
3,237,331
|
Bundesschatzanweisungen 2.00%,
12/16/2027(5)
|
3,759,612
|
|
|
|
German Treasury Bills
|
|
|
|
735,000
|
1.96%, 07/15/2026(5)(9)
|
858,915
|
|
|
390,000
|
1.98%, 06/17/2026(5)(9)
|
456,483
|
|
|
|
|
|
22,605,445
|
|
|
Indonesia - 0.0%
|
||
|
188,000
|
Indonesia Government International Bonds
1.30%, 03/23/2034
|
176,159
|
|
|
|
Israel - 0.2%
|
||
|
|
Israel Government International Bonds
|
|
|
|
$ 400,000
|
2.75%, 07/03/2030
|
368,702
|
|
|
825,000
|
5.38%, 03/12/2029
|
839,254
|
|
|
1,705,000
|
5.38%, 02/19/2030
|
1,736,799
|
|
|
|
State of Israel
|
|
|
|
1,210,000
|
3.80%, 05/13/2060(5)
|
792,016
|
|
|
380,000
|
3.80%, 05/13/2060(5)
|
248,732
|
|
|
|
|
|
3,985,503
|
|
|
Mexico - 0.6%
|
||
|
|
Mexico Government International Bonds
|
|
|
|
850,000
|
3.50%, 02/12/2034
|
726,750
|
|
|
EUR
265,000
|
4.50%, 03/19/2034
|
306,971
|
|
|
300,000
|
4.88%, 05/16/2036
|
347,605
|
|
|
$ 4,935,000
|
5.38%, 03/22/2033
|
4,839,014
|
|
|
3,285,000
|
5.38%, 03/22/2033
|
3,221,271
|
|
|
1,565,000
|
5.63%, 02/09/2034
|
1,544,921
|
|
|
490,000
|
5.63%, 09/22/2035
|
479,465
|
|
|
|
84
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
FOREIGN GOVERNMENT OBLIGATIONS - 2.3% - (continued)
|
|||
|
|
Mexico - 0.6% - (continued)
|
||
|
$ 360,000
|
5.63%, 09/22/2035
|
$351,540
|
|
|
575,000
|
6.35%, 02/09/2035
|
593,688
|
|
|
420,000
|
6.63%, 01/29/2038
|
432,726
|
|
|
|
|
|
12,843,951
|
|
|
Poland - 0.0%
|
||
|
575,000
|
Republic of Poland Government
International Bonds 6.13%, 04/14/2056
|
576,562
|
|
|
|
Romania - 0.3%
|
||
|
|
Romania Government International Bonds
|
|
|
|
EUR
935,000
|
2.63%, 12/02/2040(1)
|
695,915
|
|
|
540,000
|
2.63%, 12/02/2040(5)
|
401,919
|
|
|
150,000
|
2.63%, 12/02/2040(5)
|
111,644
|
|
|
4,933,000
|
2.75%, 04/14/2041(5)
|
3,681,165
|
|
|
200,000
|
3.88%, 10/29/2035(5)
|
200,809
|
|
|
180,000
|
6.13%, 10/07/2037(5)
|
206,276
|
|
|
|
|
|
5,297,728
|
|
|
Serbia - 0.0%
|
||
|
170,000
|
Serbia International Bonds 4.88%,
05/06/2038(1)
|
194,915
|
|
|
|
Total Foreign Government
Obligations
(cost $51,142,660)
|
|
$50,435,958
|
|
MUNICIPAL BONDS - 0.0%
|
|||
|
|
School District - 0.0%
|
||
|
|
Chicago Board of Education, IL, GO
|
|
|
|
$ 220,000
|
6.14%, 12/01/2039
|
$206,704
|
|
|
885,000
|
6.32%, 11/01/2029
|
873,457
|
|
|
|
Total Municipal Bonds
(cost $1,167,802)
|
|
$1,080,161
|
|
U.S. GOVERNMENT AGENCIES - 40.5%
|
|||
|
|
Mortgage-Backed Agencies - 40.5%
|
||
|
|
Federal Home Loan Mortgage Corp. - 8.4%
|
||
|
12,799,157
|
0.33%, 10/25/2034(2)(4)
|
$196,529
|
|
|
6,580,615
|
0.40%, 02/25/2035(2)(4)
|
125,472
|
|
|
8,766,988
|
0.47%, 05/25/2034(2)(4)
|
201,921
|
|
|
4,561,272
|
0.57%, 12/25/2033(2)(4)
|
119,129
|
|
|
3,072,738
|
0.63%, 01/25/2034(2)(4)
|
81,301
|
|
|
1,345,126
|
0.72%, 10/25/2026(2)(4)
|
1,950
|
|
|
6,490,904
|
0.80%, 12/25/2030(2)(4)
|
181,373
|
|
|
2,993,635
|
0.85%, 06/25/2027(2)(4)
|
17,172
|
|
|
1,434,563
|
0.96%, 11/25/2030(2)(4)
|
47,139
|
|
|
505,042
|
1.00%, 10/25/2040
|
429,171
|
|
|
791,993
|
1.00%, 02/25/2051
|
691,053
|
|
|
2,511,260
|
1.11%, 10/25/2030(2)(4)
|
92,039
|
|
|
4,199,004
|
1.20%, 06/25/2030(2)(4)
|
163,653
|
|
|
3,272,371
|
1.23%, 01/25/2030(2)(4)
|
115,392
|
|
|
3,891,664
|
1.50%, 05/15/2037(4)
|
193,777
|
|
|
2,260,711
|
1.50%, 09/25/2047
|
1,898,214
|
|
|
3,247,373
|
1.53%, 05/25/2030(2)(4)
|
160,817
|
|
|
2,025,858
|
1.67%, 05/25/2030(2)(4)
|
106,989
|
|
|
185,636
|
1.75%, 10/15/2042
|
162,327
|
|
|
141,120
|
2.00%, 12/01/2040
|
123,792
|
|
|
871,488
|
2.00%, 05/01/2041
|
752,598
|
|
|
2,803,212
|
2.00%, 06/01/2041
|
2,441,618
|
|
|
975,137
|
2.00%, 12/01/2041
|
846,603
|
|
|
4,318,327
|
2.00%, 02/15/2042(4)
|
393,919
|
|
|
607,300
|
2.00%, 10/01/2050
|
491,424
|
|
|
3,633,886
|
2.00%, 11/25/2050(4)
|
428,126
|
|
|
724,225
|
2.00%, 02/01/2051
|
590,303
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 40.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 40.5% - (continued)
|
||
|
|
Federal Home Loan Mortgage Corp. - 8.4% - (continued)
|
||
|
$ 3,737,977
|
2.00%, 03/01/2051
|
$3,025,859
|
|
|
1,263,765
|
2.00%, 04/01/2051
|
1,019,266
|
|
|
673,884
|
2.00%, 05/01/2051
|
552,134
|
|
|
673,943
|
2.00%, 07/01/2051
|
542,761
|
|
|
290,615
|
2.00%, 08/01/2051
|
234,675
|
|
|
295,967
|
2.00%, 11/01/2051
|
240,898
|
|
|
1,029,579
|
2.00%, 01/01/2052
|
836,762
|
|
|
1,147,017
|
2.00%, 04/01/2052
|
934,980
|
|
|
1,915,805
|
2.00%, 06/15/2052(4)
|
233,060
|
|
|
5,061,019
|
2.10%, 05/25/2055, 30 day USD SOFR
Average + 5.75%(2)(4)
|
289,405
|
|
|
2,058,960
|
2.50%, 04/25/2036(4)
|
172,299
|
|
|
418,722
|
2.50%, 05/01/2050
|
358,331
|
|
|
499,227
|
2.50%, 06/01/2050
|
425,483
|
|
|
1,404,918
|
2.50%, 06/25/2050(4)
|
213,680
|
|
|
2,101,934
|
2.50%, 07/01/2050
|
1,794,058
|
|
|
805,072
|
2.50%, 08/01/2050
|
687,387
|
|
|
1,233,150
|
2.50%, 09/01/2050
|
1,052,887
|
|
|
940,784
|
2.50%, 10/01/2050
|
807,347
|
|
|
880,820
|
2.50%, 11/01/2050
|
748,236
|
|
|
270,558
|
2.50%, 02/01/2051
|
231,672
|
|
|
696,741
|
2.50%, 03/01/2051
|
589,213
|
|
|
312,302
|
2.50%, 05/01/2051
|
264,373
|
|
|
200,201
|
2.50%, 07/01/2051
|
169,488
|
|
|
270,092
|
2.50%, 08/01/2051
|
230,157
|
|
|
465,375
|
2.50%, 10/01/2051
|
394,232
|
|
|
2,206,175
|
2.50%, 11/01/2051
|
1,890,335
|
|
|
1,293,566
|
2.50%, 03/15/2052(4)
|
191,413
|
|
|
780,488
|
2.50%, 03/25/2052
|
699,062
|
|
|
1,897,801
|
2.50%, 04/01/2052
|
1,601,180
|
|
|
2,661,143
|
2.50%, 08/25/2052(4)
|
405,478
|
|
|
702,159
|
3.00%, 10/01/2032
|
680,538
|
|
|
2,458
|
3.00%, 05/15/2041
|
2,355
|
|
|
75,058
|
3.00%, 07/01/2047
|
67,482
|
|
|
290,875
|
3.00%, 12/15/2047
|
239,852
|
|
|
97,857
|
3.00%, 01/01/2048
|
87,686
|
|
|
2,473,428
|
3.00%, 12/25/2049(4)
|
410,029
|
|
|
526,653
|
3.00%, 07/01/2050
|
468,490
|
|
|
660,421
|
3.00%, 08/01/2050
|
584,845
|
|
|
294,701
|
3.00%, 08/01/2051
|
258,330
|
|
|
2,228,996
|
3.00%, 08/25/2051(4)
|
360,806
|
|
|
1,692,999
|
3.00%, 09/25/2051(4)
|
608,092
|
|
|
894,907
|
3.00%, 10/01/2051
|
796,251
|
|
|
343,705
|
3.00%, 01/01/2052
|
305,953
|
|
|
1,763,459
|
3.00%, 05/01/2052
|
1,550,378
|
|
|
106,059
|
3.00%, 07/01/2052
|
92,921
|
|
|
2,585,887
|
3.00%, 08/01/2052
|
2,266,945
|
|
|
724,957
|
3.50%, 01/15/2033(4)
|
53,338
|
|
|
213,850
|
3.50%, 05/15/2034(4)
|
14,475
|
|
|
488,876
|
3.50%, 10/15/2042
|
451,587
|
|
|
247,054
|
3.50%, 10/15/2045
|
232,680
|
|
|
557,779
|
3.50%, 12/01/2046
|
518,441
|
|
|
317,045
|
3.50%, 01/01/2047
|
297,363
|
|
|
213,014
|
3.50%, 03/15/2047
|
196,357
|
|
|
96,905
|
3.50%, 06/01/2047
|
90,030
|
|
|
119,629
|
3.50%, 12/01/2047
|
110,708
|
|
|
134,166
|
3.50%, 01/01/2048
|
124,259
|
|
|
186,287
|
3.50%, 12/01/2048
|
172,097
|
|
|
708,453
|
3.50%, 04/01/2050
|
652,637
|
|
|
1,000,001
|
3.50%, 01/01/2052
|
910,871
|
|
|
242,984
|
3.50%, 03/01/2052
|
221,321
|
|
|
1,757,016
|
3.50%, 04/01/2052
|
1,600,366
|
|
|
1,000,000
|
3.50%, 08/01/2052
|
910,880
|
|
|
|
85
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 40.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 40.5% - (continued)
|
||
|
|
Federal Home Loan Mortgage Corp. - 8.4% - (continued)
|
||
|
$ 42,862
|
3.50%, 01/01/2053
|
$39,040
|
|
|
1,000,000
|
3.50%, 03/01/2055
|
911,111
|
|
|
27,314
|
3.50%, 08/01/2055
|
24,886
|
|
|
497,284
|
3.50%, 02/01/2056
|
453,065
|
|
|
34,163
|
3.50%, 03/01/2056
|
31,125
|
|
|
502,670
|
3.50%, 05/01/2056
|
457,971
|
|
|
243,518
|
4.00%, 05/01/2038
|
237,864
|
|
|
299,731
|
4.00%, 05/25/2040(4)
|
43,635
|
|
|
550,842
|
4.00%, 09/15/2041
|
531,766
|
|
|
6,907
|
4.00%, 01/01/2042
|
6,649
|
|
|
136,006
|
4.00%, 03/01/2042
|
131,082
|
|
|
3,429
|
4.00%, 04/01/2042
|
3,302
|
|
|
5,843
|
4.00%, 06/01/2042
|
5,633
|
|
|
1,367,903
|
4.00%, 03/25/2045(4)
|
220,469
|
|
|
78,186
|
4.00%, 04/01/2047
|
75,201
|
|
|
157,830
|
4.00%, 11/01/2047
|
150,864
|
|
|
316,466
|
4.00%, 12/01/2047
|
307,373
|
|
|
1,085,281
|
4.00%, 04/01/2049
|
1,031,577
|
|
|
278,668
|
4.00%, 05/01/2049
|
266,745
|
|
|
878,389
|
4.00%, 07/01/2049
|
839,762
|
|
|
1,192,936
|
4.00%, 09/25/2050(4)
|
236,811
|
|
|
2,850,912
|
4.00%, 03/25/2051(4)
|
512,071
|
|
|
854,913
|
4.50%, 07/01/2052
|
829,177
|
|
|
61,669
|
5.00%, 09/01/2035
|
62,421
|
|
|
230,927
|
5.00%, 09/15/2036(4)
|
33,887
|
|
|
956,322
|
5.00%, 07/01/2040
|
963,978
|
|
|
747,616
|
5.00%, 03/15/2045(4)
|
149,613
|
|
|
137,828
|
5.00%, 02/15/2048(4)
|
26,687
|
|
|
33,540
|
5.00%, 09/01/2048
|
33,716
|
|
|
22,163
|
5.00%, 02/01/2049
|
22,252
|
|
|
956,961
|
5.00%, 08/25/2052
|
958,498
|
|
|
576,193
|
5.00%, 10/01/2052
|
570,344
|
|
|
1,027,870
|
5.00%, 10/25/2052
|
1,028,824
|
|
|
71,571
|
5.00%, 11/01/2052
|
71,159
|
|
|
20,771
|
5.00%, 01/01/2053
|
20,572
|
|
|
2,141,690
|
5.00%, 04/01/2053
|
2,121,847
|
|
|
5,569,975
|
5.00%, 04/01/2056
|
5,490,489
|
|
|
2,788
|
5.50%, 02/01/2029
|
2,813
|
|
|
1,854,027
|
5.50%, 12/01/2037
|
1,895,772
|
|
|
8,499
|
5.50%, 12/01/2038
|
8,554
|
|
|
298,072
|
5.50%, 05/15/2040(4)
|
52,805
|
|
|
339,573
|
5.50%, 11/25/2043, 30 day USD SOFR
Average + 1.85%(1)(2)
|
341,582
|
|
|
261,512
|
5.50%, 06/15/2046(4)
|
44,792
|
|
|
255,282
|
5.50%, 10/15/2046(4)
|
48,495
|
|
|
230,796
|
5.50%, 02/01/2049
|
236,476
|
|
|
30,521
|
5.50%, 03/01/2049
|
31,165
|
|
|
976,005
|
5.50%, 02/01/2053
|
985,589
|
|
|
1,834,825
|
5.50%, 04/01/2053
|
1,850,390
|
|
|
15,427,986
|
5.50%, 04/01/2054
|
15,520,776
|
|
|
19,160,078
|
5.50%, 08/01/2054
|
19,273,898
|
|
|
28,264,807
|
5.50%, 09/01/2054
|
28,419,718
|
|
|
2,466,698
|
5.50%, 06/01/2055
|
2,507,433
|
|
|
653,000
|
5.75%, 09/25/2041, 30 day USD SOFR
Average + 2.10%(1)(2)
|
654,621
|
|
|
854,093
|
6.00%, 11/01/2052
|
878,183
|
|
|
583,185
|
6.00%, 12/01/2052
|
603,600
|
|
|
260,001
|
6.00%, 03/01/2053
|
270,328
|
|
|
4,804,908
|
6.00%, 09/01/2053
|
4,928,800
|
|
|
494,480
|
6.00%, 11/01/2053
|
506,214
|
|
|
1,445,366
|
6.00%, 12/01/2053
|
1,481,030
|
|
|
262,350
|
6.00%, 01/01/2054
|
268,394
|
|
|
1,255,165
|
6.00%, 02/01/2054
|
1,283,505
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 40.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 40.5% - (continued)
|
||
|
|
Federal Home Loan Mortgage Corp. - 8.4% - (continued)
|
||
|
$ 670,352
|
6.00%, 03/01/2054
|
$692,445
|
|
|
536,832
|
6.00%, 04/01/2054
|
557,475
|
|
|
1,799,581
|
6.00%, 05/01/2054
|
1,837,362
|
|
|
4,608,279
|
6.00%, 06/01/2054
|
4,729,113
|
|
|
3,100,723
|
6.00%, 08/01/2054
|
3,176,925
|
|
|
1,813,628
|
6.00%, 11/01/2055
|
1,864,792
|
|
|
892,000
|
6.55%, 04/25/2042, 30 day USD SOFR
Average + 2.90%(1)(2)
|
907,292
|
|
|
1,545,000
|
7.00%, 09/25/2041, 30 day USD SOFR
Average + 3.35%(1)(2)
|
1,555,974
|
|
|
1,310,000
|
7.00%, 05/25/2042, 30 day USD SOFR
Average + 3.35%(1)(2)
|
1,339,475
|
|
|
2,545,000
|
7.00%, 06/25/2043, 30 day USD SOFR
Average + 3.35%(1)(2)
|
2,611,343
|
|
|
5,285,000
|
7.05%, 10/25/2041, 30 day USD SOFR
Average + 3.40%(1)(2)
|
5,342,454
|
|
|
2,460,000
|
7.15%, 05/25/2043, 30 day USD SOFR
Average + 3.50%(1)(2)
|
2,561,215
|
|
|
380,000
|
7.20%, 08/25/2042, 30 day USD SOFR
Average + 3.55%(1)(2)
|
391,502
|
|
|
2,925,000
|
7.30%, 11/25/2041, 30 day USD SOFR
Average + 3.65%(1)(2)
|
2,963,405
|
|
|
3,460,000
|
7.35%, 09/25/2042, 30 day USD SOFR
Average + 3.70%(1)(2)
|
3,576,221
|
|
|
1,305,000
|
7.40%, 02/25/2042, 30 day USD SOFR
Average + 3.75%(1)(2)
|
1,332,327
|
|
|
970,000
|
7.65%, 07/25/2042, 30 day USD SOFR
Average + 4.00%(1)(2)
|
1,002,669
|
|
|
1,593,000
|
8.15%, 06/25/2042, 30 day USD SOFR
Average + 4.50%(1)(2)
|
1,653,231
|
|
|
2,280,000
|
8.90%, 03/25/2042, 30 day USD SOFR
Average + 5.25%(1)(2)
|
2,360,270
|
|
|
|
|
|
188,680,164
|
|
|
Federal National Mortgage Association - 10.1%
|
||
|
106,420
|
0.00%, 06/25/2041(10)(11)
|
80,751
|
|
|
2,077,149
|
0.39%, 01/25/2030(2)(4)
|
15,464
|
|
|
5,759,933
|
1.25%, 06/25/2034(2)(4)
|
316,474
|
|
|
2,436,045
|
1.50%, 11/25/2035(4)
|
107,214
|
|
|
190,788
|
1.50%, 07/01/2051
|
146,467
|
|
|
3,291,183
|
1.50%, 09/01/2051
|
2,524,883
|
|
|
3,358,711
|
1.58%, 05/25/2029(2)(4)
|
93,965
|
|
|
503,126
|
2.00%, 09/01/2040
|
442,541
|
|
|
1,867,929
|
2.00%, 12/01/2040
|
1,636,732
|
|
|
507,811
|
2.00%, 04/01/2041
|
444,677
|
|
|
172,642
|
2.00%, 05/01/2041
|
150,929
|
|
|
1,332
|
2.00%, 09/25/2041
|
1,267
|
|
|
707,165
|
2.00%, 10/01/2041
|
613,652
|
|
|
2,726
|
2.00%, 12/25/2041
|
2,565
|
|
|
458,296
|
2.00%, 02/01/2042
|
400,765
|
|
|
170,367
|
2.00%, 03/25/2044
|
162,968
|
|
|
191,240
|
2.00%, 05/25/2044
|
178,859
|
|
|
1,322,629
|
2.00%, 03/25/2050
|
1,137,617
|
|
|
537,326
|
2.00%, 08/25/2050
|
384,132
|
|
|
1,738,258
|
2.00%, 10/01/2050
|
1,418,840
|
|
|
4,990,583
|
2.00%, 10/25/2050(4)
|
639,309
|
|
|
1,487,353
|
2.00%, 12/01/2050
|
1,205,495
|
|
|
3,253,545
|
2.00%, 02/01/2051
|
2,631,210
|
|
|
5,105,049
|
2.00%, 03/01/2051
|
4,119,586
|
|
|
6,735,439
|
2.00%, 04/01/2051
|
5,430,600
|
|
|
997,022
|
2.00%, 05/01/2051
|
803,953
|
|
|
541,379
|
2.00%, 06/01/2051
|
436,613
|
|
|
2,362,759
|
2.00%, 07/01/2051
|
1,911,053
|
|
|
1,251,199
|
2.00%, 08/01/2051
|
1,021,032
|
|
|
|
86
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 40.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 40.5% - (continued)
|
||
|
|
Federal National Mortgage Association - 10.1% - (continued)
|
||
|
$ 1,216,912
|
2.00%, 09/01/2051
|
$989,495
|
|
|
1,848,851
|
2.00%, 03/25/2052(4)
|
231,460
|
|
|
7,619,076
|
2.00%, 04/01/2052
|
6,163,836
|
|
|
3,190,592
|
2.19%, 03/25/2055, 30 day USD SOFR
Average + 5.84%(2)(4)
|
151,144
|
|
|
412,619
|
2.25%, 04/01/2033
|
361,893
|
|
|
4,715,593
|
2.30%, 10/25/2054, 30 day USD SOFR
Average + 5.95%(2)(4)
|
226,652
|
|
|
1,027,093
|
2.50%, 06/25/2045
|
881,691
|
|
|
5,200
|
2.50%, 03/25/2046
|
4,872
|
|
|
525,072
|
2.50%, 04/01/2050
|
446,044
|
|
|
506,657
|
2.50%, 06/01/2050
|
431,229
|
|
|
3,804,002
|
2.50%, 07/01/2050
|
3,254,294
|
|
|
813,631
|
2.50%, 09/01/2050
|
688,993
|
|
|
1,282,798
|
2.50%, 10/01/2050
|
1,098,403
|
|
|
1,416,531
|
2.50%, 12/01/2050
|
1,201,837
|
|
|
325,600
|
2.50%, 01/01/2051
|
278,711
|
|
|
2,146,449
|
2.50%, 02/01/2051
|
1,818,683
|
|
|
1,421,776
|
2.50%, 02/25/2051(4)
|
235,398
|
|
|
2,059,248
|
2.50%, 04/25/2051(4)
|
329,165
|
|
|
6,461,811
|
2.50%, 05/01/2051
|
5,490,009
|
|
|
1,252,158
|
2.50%, 06/01/2051
|
1,056,907
|
|
|
664,684
|
2.50%, 07/01/2051
|
564,621
|
|
|
285,551
|
2.50%, 08/01/2051
|
245,421
|
|
|
427,569
|
2.50%, 09/01/2051
|
364,426
|
|
|
6,478,709
|
2.50%, 10/01/2051
|
5,531,403
|
|
|
6,211,747
|
2.50%, 11/01/2051
|
5,311,629
|
|
|
1,933,145
|
2.50%, 12/01/2051
|
1,648,047
|
|
|
753,808
|
2.50%, 01/01/2052
|
642,839
|
|
|
8,232,348
|
2.50%, 03/01/2052
|
6,918,952
|
|
|
432,306
|
2.50%, 04/01/2052
|
369,707
|
|
|
1,839,304
|
2.50%, 06/25/2052(4)
|
277,909
|
|
|
2,172,280
|
2.50%, 09/25/2052(4)
|
338,977
|
|
|
1,045,773
|
2.50%, 01/01/2057
|
881,943
|
|
|
273,831
|
3.00%, 04/25/2033(4)
|
15,347
|
|
|
107,828
|
3.00%, 08/01/2033
|
104,625
|
|
|
797,905
|
3.00%, 06/01/2038
|
764,828
|
|
|
355,238
|
3.00%, 11/25/2042
|
319,357
|
|
|
1,533
|
3.00%, 02/25/2043
|
1,514
|
|
|
871,533
|
3.00%, 06/01/2043
|
798,335
|
|
|
974,337
|
3.00%, 11/01/2044
|
890,297
|
|
|
49,858
|
3.00%, 01/25/2046
|
46,679
|
|
|
677,508
|
3.00%, 02/25/2047
|
631,783
|
|
|
5,207,768
|
3.00%, 08/01/2048
|
4,689,524
|
|
|
253,157
|
3.00%, 08/25/2049
|
229,803
|
|
|
325,807
|
3.00%, 02/01/2050
|
291,602
|
|
|
1,316,670
|
3.00%, 07/01/2050
|
1,179,077
|
|
|
1,236,707
|
3.00%, 08/01/2050
|
1,095,238
|
|
|
491,961
|
3.00%, 10/01/2050
|
433,226
|
|
|
2,756,338
|
3.00%, 10/25/2050(4)
|
496,348
|
|
|
2,077,181
|
3.00%, 12/01/2050
|
1,845,368
|
|
|
622,310
|
3.00%, 05/01/2051
|
558,120
|
|
|
1,108,551
|
3.00%, 07/01/2051
|
977,200
|
|
|
294,800
|
3.00%, 08/01/2051
|
262,608
|
|
|
1,612,799
|
3.00%, 10/01/2051
|
1,429,621
|
|
|
1,730,300
|
3.00%, 11/01/2051
|
1,528,550
|
|
|
937,538
|
3.00%, 12/01/2051
|
828,102
|
|
|
452,675
|
3.00%, 01/01/2052
|
399,980
|
|
|
1,432,864
|
3.00%, 01/25/2052(4)
|
224,260
|
|
|
538,396
|
3.00%, 04/01/2052
|
476,598
|
|
|
678,714
|
3.00%, 05/01/2052
|
601,379
|
|
|
21,735
|
3.00%, 06/01/2052
|
19,054
|
|
|
4,647,248
|
3.00%, 07/25/2052(4)
|
839,277
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 40.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 40.5% - (continued)
|
||
|
|
Federal National Mortgage Association - 10.1% - (continued)
|
||
|
$ 511,822
|
3.00%, 09/01/2052
|
$448,837
|
|
|
651,628
|
3.50%, 07/25/2033(4)
|
36,253
|
|
|
321,194
|
3.50%, 08/25/2033(4)
|
24,394
|
|
|
80,371
|
3.50%, 04/25/2034(4)
|
1,110
|
|
|
719,265
|
3.50%, 05/01/2037
|
692,129
|
|
|
341,561
|
3.50%, 11/25/2039(4)
|
28,294
|
|
|
364,122
|
3.50%, 10/01/2041
|
343,518
|
|
|
2,367
|
3.50%, 05/25/2042
|
2,283
|
|
|
1,146,180
|
3.50%, 08/01/2043
|
1,081,049
|
|
|
22,885
|
3.50%, 07/25/2044
|
22,785
|
|
|
167,779
|
3.50%, 12/01/2045
|
156,481
|
|
|
161,808
|
3.50%, 01/01/2046
|
150,939
|
|
|
121,418
|
3.50%, 03/01/2046
|
113,247
|
|
|
590,129
|
3.50%, 12/01/2046
|
554,092
|
|
|
205,010
|
3.50%, 05/01/2047
|
190,949
|
|
|
1,599,035
|
3.50%, 09/01/2047
|
1,482,026
|
|
|
1,544,144
|
3.50%, 12/01/2047
|
1,422,787
|
|
|
180,851
|
3.50%, 01/01/2048
|
167,065
|
|
|
1,959,487
|
3.50%, 02/01/2048
|
1,826,348
|
|
|
69,604
|
3.50%, 06/01/2048
|
64,176
|
|
|
316,619
|
3.50%, 07/01/2048
|
294,738
|
|
|
68,969
|
3.50%, 11/01/2048
|
63,828
|
|
|
978,565
|
3.50%, 03/25/2049
|
902,714
|
|
|
394,041
|
3.50%, 04/25/2049
|
380,158
|
|
|
499,173
|
3.50%, 06/01/2049
|
466,619
|
|
|
321,276
|
3.50%, 09/01/2050
|
296,434
|
|
|
684,574
|
3.50%, 11/01/2051
|
627,990
|
|
|
429,002
|
3.50%, 02/01/2052
|
390,755
|
|
|
1,179,595
|
3.50%, 04/01/2052
|
1,083,943
|
|
|
949,687
|
3.50%, 07/01/2052
|
865,014
|
|
|
26,099,706
|
3.50%, 09/01/2052
|
23,773,461
|
|
|
36,413
|
3.50%, 02/01/2055
|
33,176
|
|
|
808,767
|
3.50%, 06/01/2055
|
736,868
|
|
|
1,507,985
|
3.50%, 05/01/2056
|
1,358,308
|
|
|
468,803
|
3.50%, 11/25/2057
|
450,546
|
|
|
862,283
|
3.50%, 05/01/2058
|
777,982
|
|
|
819,080
|
3.50%, 12/25/2058
|
738,156
|
|
|
1,584,500
|
3.92%, 10/01/2030
|
1,560,960
|
|
|
421,855
|
4.00%, 08/01/2038
|
414,898
|
|
|
1,836
|
4.00%, 11/01/2040
|
1,767
|
|
|
19,094
|
4.00%, 02/01/2041
|
18,374
|
|
|
263,703
|
4.00%, 06/01/2041
|
257,279
|
|
|
3,447
|
4.00%, 09/01/2041
|
3,318
|
|
|
5,151
|
4.00%, 10/01/2041
|
4,966
|
|
|
128,437
|
4.00%, 01/01/2042
|
123,636
|
|
|
177,613
|
4.00%, 02/01/2042
|
170,975
|
|
|
44,413
|
4.00%, 05/01/2042
|
42,753
|
|
|
1,742
|
4.00%, 09/01/2042
|
1,679
|
|
|
655,845
|
4.00%, 01/01/2043
|
631,535
|
|
|
14,006
|
4.00%, 10/01/2043
|
13,482
|
|
|
1,123,107
|
4.00%, 12/01/2043
|
1,084,563
|
|
|
169,872
|
4.00%, 03/01/2046
|
162,912
|
|
|
219,776
|
4.00%, 09/01/2047
|
207,674
|
|
|
393,340
|
4.00%, 10/01/2047
|
374,727
|
|
|
203,232
|
4.00%, 11/01/2047
|
193,488
|
|
|
1,193,891
|
4.00%, 06/01/2048
|
1,134,180
|
|
|
1,597,912
|
4.00%, 10/01/2048
|
1,521,305
|
|
|
623,777
|
4.00%, 01/01/2049
|
595,662
|
|
|
1,319,433
|
4.00%, 04/01/2049
|
1,259,766
|
|
|
74,812
|
4.00%, 08/01/2049
|
71,781
|
|
|
467,145
|
4.00%, 09/01/2049
|
444,403
|
|
|
2,796,218
|
4.00%, 02/25/2050(4)
|
585,352
|
|
|
946,199
|
4.00%, 04/01/2050
|
902,756
|
|
|
|
87
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 40.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 40.5% - (continued)
|
||
|
|
Federal National Mortgage Association - 10.1% - (continued)
|
||
|
$ 1,429,574
|
4.00%, 06/25/2050(4)
|
$275,223
|
|
|
1,189,093
|
4.00%, 09/25/2050(4)
|
223,628
|
|
|
1,544,035
|
4.00%, 11/25/2050(4)
|
312,006
|
|
|
615,291
|
4.00%, 08/01/2051
|
587,866
|
|
|
1,754,984
|
4.00%, 04/01/2052
|
1,647,158
|
|
|
677,980
|
4.00%, 06/01/2052
|
641,551
|
|
|
2,500,000
|
4.12%, 11/01/2030
|
2,479,040
|
|
|
1,105,000
|
4.21%, 01/01/2031
|
1,100,165
|
|
|
1,996,519
|
4.39%, 04/01/2029
|
2,004,753
|
|
|
2,287,000
|
4.42%, 11/01/2030
|
2,291,630
|
|
|
434,817
|
4.50%, 12/01/2037
|
436,799
|
|
|
338,335
|
4.50%, 04/01/2048
|
328,643
|
|
|
144,405
|
4.50%, 04/01/2049
|
141,131
|
|
|
1,971,033
|
4.50%, 05/25/2049(4)
|
351,454
|
|
|
639,369
|
4.50%, 01/01/2051
|
616,190
|
|
|
3,004,008
|
4.50%, 03/25/2051(4)
|
574,602
|
|
|
1,033,214
|
4.50%, 08/01/2052
|
995,448
|
|
|
1,134,074
|
4.50%, 03/01/2053
|
1,093,862
|
|
|
4,458,073
|
4.50%, 10/01/2053
|
4,297,687
|
|
|
1,262,000
|
4.52%, 10/01/2030
|
1,269,604
|
|
|
215,000
|
4.75%, 04/01/2028
|
216,439
|
|
|
3,020,370
|
5.00%, 07/25/2047
|
3,015,543
|
|
|
198,549
|
5.00%, 06/25/2048(4)
|
27,310
|
|
|
1,472,102
|
5.00%, 12/25/2051
|
1,469,749
|
|
|
827,986
|
5.00%, 07/01/2052
|
822,298
|
|
|
5,987,914
|
5.00%, 09/01/2052
|
5,936,788
|
|
|
198,603
|
5.00%, 10/01/2052
|
196,235
|
|
|
91,939
|
5.00%, 11/01/2052
|
91,018
|
|
|
127,257
|
5.00%, 12/01/2052
|
125,767
|
|
|
9,555,295
|
5.00%, 04/01/2056
|
9,419,183
|
|
|
1,465,000
|
5.07%, 12/01/2028
|
1,493,807
|
|
|
2,049,002
|
5.50%, 11/25/2035
|
2,092,356
|
|
|
602,391
|
5.50%, 04/01/2038
|
615,953
|
|
|
1,363,748
|
5.50%, 11/01/2039
|
1,393,542
|
|
|
3,007,941
|
5.50%, 08/01/2040
|
3,075,488
|
|
|
1,514,758
|
5.50%, 12/01/2040
|
1,548,922
|
|
|
207,843
|
5.50%, 04/25/2044(4)
|
26,929
|
|
|
1,304,167
|
5.50%, 06/25/2051
|
1,315,250
|
|
|
1,488,354
|
5.50%, 12/25/2051
|
1,500,161
|
|
|
1,131,803
|
5.50%, 02/25/2052
|
1,141,388
|
|
|
1,330,546
|
5.50%, 03/25/2052
|
1,342,039
|
|
|
1,261,887
|
5.50%, 04/25/2052
|
1,282,903
|
|
|
585,797
|
5.50%, 10/01/2052
|
592,243
|
|
|
1,108,429
|
5.50%, 11/01/2052
|
1,119,709
|
|
|
2,055,504
|
5.50%, 12/01/2052
|
2,077,447
|
|
|
1,100,007
|
5.50%, 06/01/2053
|
1,111,385
|
|
|
1,288,490
|
5.50%, 07/01/2053
|
1,299,697
|
|
|
136,015
|
5.50%, 03/01/2054
|
136,816
|
|
|
443,627
|
6.00%, 04/01/2044
|
453,385
|
|
|
1,291,225
|
6.00%, 08/25/2044
|
1,310,219
|
|
|
243,446
|
6.00%, 01/01/2053
|
250,210
|
|
|
618,609
|
6.00%, 05/01/2053
|
641,036
|
|
|
274,877
|
6.00%, 11/01/2053
|
281,791
|
|
|
205,748
|
6.00%, 01/01/2054
|
210,285
|
|
|
703,655
|
6.00%, 02/01/2054
|
719,130
|
|
|
664,976
|
6.00%, 03/01/2054
|
685,428
|
|
|
1,071,850
|
6.00%, 05/01/2054
|
1,095,700
|
|
|
893,990
|
6.00%, 06/01/2054
|
912,709
|
|
|
989,404
|
6.00%, 09/01/2054
|
1,011,600
|
|
|
|
|
|
226,433,844
|
|
|
Government National Mortgage Association - 7.7%
|
||
|
92,164
|
2.00%, 06/16/2042
|
85,754
|
|
|
1,077,774
|
2.00%, 10/20/2050
|
888,670
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 40.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 40.5% - (continued)
|
||
|
|
Government National Mortgage Association - 7.7% - (continued)
|
||
|
$ 3,141,574
|
2.00%, 12/20/2050
|
$2,585,863
|
|
|
210,885
|
2.00%, 12/20/2051
|
173,581
|
|
|
5,096,525
|
2.00%, 02/20/2052
|
4,195,004
|
|
|
582,201
|
2.00%, 03/20/2052
|
479,216
|
|
|
576,792
|
2.00%, 10/20/2052
|
475,364
|
|
|
10,650,000
|
2.00%, 05/20/2056(12)
|
8,760,155
|
|
|
15,293
|
2.50%, 05/20/2040
|
15,160
|
|
|
1,438,252
|
2.50%, 10/20/2049
|
1,283,625
|
|
|
1,114,227
|
2.50%, 11/20/2049
|
961,623
|
|
|
885,382
|
2.50%, 03/20/2051
|
758,762
|
|
|
6,693,991
|
2.50%, 04/20/2051
|
5,740,075
|
|
|
1,958,039
|
2.50%, 07/20/2051
|
1,678,017
|
|
|
779,948
|
2.50%, 09/20/2051
|
668,791
|
|
|
2,612,334
|
2.50%, 10/20/2051
|
2,240,025
|
|
|
11,606,980
|
2.50%, 02/20/2052
|
9,951,717
|
|
|
18,887,000
|
2.50%, 05/20/2056(12)
|
16,175,235
|
|
|
560,950
|
3.00%, 02/20/2047
|
488,147
|
|
|
420,880
|
3.00%, 05/20/2049
|
389,712
|
|
|
161,700
|
3.00%, 03/20/2050
|
144,341
|
|
|
2,230,558
|
3.00%, 07/20/2050(4)
|
290,977
|
|
|
362,006
|
3.00%, 11/20/2050
|
323,141
|
|
|
3,310,861
|
3.00%, 04/20/2051
|
2,951,262
|
|
|
4,911,767
|
3.00%, 06/20/2051
|
4,378,255
|
|
|
3,168,875
|
3.00%, 07/20/2051(4)
|
499,001
|
|
|
1,908,859
|
3.00%, 08/20/2051
|
1,701,511
|
|
|
1,206,818
|
3.00%, 09/20/2051
|
1,075,938
|
|
|
375,295
|
3.00%, 10/20/2051
|
334,529
|
|
|
2,597,990
|
3.00%, 12/20/2051
|
2,316,578
|
|
|
596,184
|
3.00%, 04/20/2052
|
531,406
|
|
|
50,000
|
3.00%, 05/20/2056(12)
|
44,444
|
|
|
152,232
|
3.50%, 11/20/2042
|
138,318
|
|
|
616,257
|
3.50%, 03/20/2044
|
572,290
|
|
|
85,879
|
3.50%, 07/20/2046
|
79,185
|
|
|
91,670
|
3.50%, 10/20/2046
|
85,052
|
|
|
399,047
|
3.50%, 02/20/2047
|
370,162
|
|
|
106,405
|
3.50%, 05/20/2047
|
98,670
|
|
|
109,097
|
3.50%, 07/20/2047
|
101,075
|
|
|
79,828
|
3.50%, 11/20/2047
|
73,613
|
|
|
97,278
|
3.50%, 03/20/2048
|
89,914
|
|
|
462,639
|
3.50%, 02/20/2049
|
427,352
|
|
|
1,064,705
|
3.50%, 06/20/2049
|
979,734
|
|
|
2,595,647
|
3.50%, 11/20/2049
|
2,389,601
|
|
|
277,371
|
3.50%, 12/20/2049
|
254,340
|
|
|
168,697
|
3.50%, 01/20/2050
|
155,298
|
|
|
641,755
|
3.50%, 06/20/2050
|
589,489
|
|
|
2,610,433
|
3.50%, 02/20/2051
|
2,396,704
|
|
|
951,569
|
3.50%, 11/20/2052
|
848,187
|
|
|
1,461,443
|
3.50%, 01/20/2053
|
1,336,233
|
|
|
232,243
|
3.88%, 08/15/2042
|
220,877
|
|
|
810,925
|
4.00%, 09/16/2042(4)
|
165,685
|
|
|
224,877
|
4.00%, 09/20/2042(4)
|
26,977
|
|
|
170,508
|
4.00%, 12/20/2044(4)
|
31,290
|
|
|
372,328
|
4.00%, 08/20/2045
|
357,294
|
|
|
502,334
|
4.00%, 09/20/2047
|
478,387
|
|
|
2,132,008
|
4.00%, 11/20/2047
|
2,029,933
|
|
|
320,506
|
4.00%, 12/20/2047
|
305,128
|
|
|
817,542
|
4.00%, 02/20/2048
|
778,239
|
|
|
13,849
|
4.00%, 04/20/2048
|
13,179
|
|
|
727,501
|
4.00%, 07/20/2048
|
692,148
|
|
|
2,463,275
|
4.00%, 08/20/2052
|
2,318,784
|
|
|
9,275,000
|
4.00%, 05/20/2056(12)
|
8,652,747
|
|
|
711,960
|
4.50%, 02/20/2040
|
704,259
|
|
|
639,785
|
4.50%, 05/20/2041
|
632,632
|
|
|
|
88
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT AGENCIES - 40.5% - (continued)
|
|||
|
|
Mortgage-Backed Agencies - 40.5% - (continued)
|
||
|
|
Government National Mortgage Association - 7.7% - (continued)
|
||
|
$ 522,971
|
4.50%, 06/16/2043(4)
|
$93,876
|
|
|
264,964
|
4.50%, 05/20/2045(4)
|
55,362
|
|
|
2,589,767
|
4.50%, 08/20/2045(4)
|
475,675
|
|
|
407,012
|
4.50%, 12/16/2046(4)
|
54,970
|
|
|
281,362
|
4.50%, 05/20/2048(4)
|
40,039
|
|
|
181,401
|
4.50%, 06/20/2048(4)
|
32,917
|
|
|
135,054
|
4.50%, 05/20/2052
|
131,415
|
|
|
561,504
|
4.50%, 08/20/2052
|
546,042
|
|
|
514,099
|
4.50%, 09/20/2052
|
499,639
|
|
|
2,342,431
|
4.50%, 10/20/2052
|
2,277,236
|
|
|
2,069,215
|
4.50%, 11/20/2052
|
2,011,014
|
|
|
4,915,895
|
4.50%, 11/20/2054
|
4,755,376
|
|
|
4,844,175
|
4.50%, 12/20/2054
|
4,678,580
|
|
|
17,500,000
|
4.50%, 05/20/2056(12)
|
16,873,828
|
|
|
504,703
|
5.00%, 05/20/2040
|
513,765
|
|
|
402,015
|
5.00%, 06/20/2040
|
410,461
|
|
|
158,006
|
5.00%, 07/20/2040
|
160,936
|
|
|
221,427
|
5.00%, 12/20/2043(4)
|
43,485
|
|
|
968,569
|
5.00%, 07/16/2044(4)
|
151,336
|
|
|
175,890
|
5.00%, 11/16/2046(4)
|
26,427
|
|
|
179,696
|
5.00%, 06/16/2047(4)
|
30,465
|
|
|
2,025,361
|
5.00%, 10/20/2047(4)
|
400,849
|
|
|
246,966
|
5.00%, 11/16/2047(4)
|
45,541
|
|
|
666,803
|
5.00%, 11/20/2049
|
672,170
|
|
|
165,290
|
5.50%, 02/20/2044(4)
|
5,135
|
|
|
133,649
|
5.50%, 09/15/2045
|
139,519
|
|
|
193,512
|
5.50%, 09/20/2045(4)
|
35,166
|
|
|
18,035,000
|
5.50%, 05/20/2056(12)
|
18,161,736
|
|
|
8,975,000
|
5.50%, 06/20/2056(12)
|
9,025,448
|
|
|
4,492,562
|
6.00%, 09/20/2055
|
4,582,764
|
|
|
4,499,000
|
6.00%, 05/20/2056(12)
|
4,586,540
|
|
|
|
|
|
172,496,367
|
|
|
Uniform Mortgage-Backed Security - 14.3%
|
||
|
12,812,000
|
2.00%, 05/01/2056(12)
|
10,248,236
|
|
|
13,940,000
|
2.50%, 05/01/2056(12)
|
11,670,608
|
|
|
3,855,000
|
3.00%, 05/01/2056(12)
|
3,374,253
|
|
|
4,545,000
|
3.50%, 05/01/2056(12)
|
4,136,570
|
|
|
7,435,000
|
4.00%, 05/01/2039(12)
|
7,243,266
|
|
|
24,730,000
|
4.50%, 06/01/2039(12)
|
24,520,395
|
|
|
17,883,000
|
4.50%, 05/01/2056(12)
|
17,199,971
|
|
|
19,575,000
|
4.50%, 06/01/2056(12)
|
18,813,582
|
|
|
6,275,000
|
5.00%, 05/01/2041(12)
|
6,320,458
|
|
|
51,930,000
|
5.00%, 05/01/2056(12)
|
51,155,736
|
|
|
13,640,000
|
5.50%, 05/01/2041(12)
|
13,932,192
|
|
|
80,280,000
|
5.50%, 05/01/2056(12)
|
80,679,341
|
|
|
43,103,000
|
6.00%, 05/01/2056(12)
|
44,000,944
|
|
|
26,275,000
|
6.00%, 06/01/2056(12)
|
26,794,663
|
|
|
|
|
|
320,090,215
|
|
|
Total U.S. Government Agencies
(cost $919,573,411)
|
|
$907,700,590
|
|
U.S. GOVERNMENT SECURITIES - 34.6%
|
|||
|
|
U.S. Treasury Securities - 34.6%
|
||
|
|
U.S. Treasury Bonds - 10.6%
|
||
|
15,840,000
|
1.25%, 05/15/2050
|
$7,427,475
|
|
|
19,520,000
|
1.63%, 11/15/2050
|
10,060,425
|
|
|
29,005,000
|
1.75%, 08/15/2041
|
19,253,202
|
|
|
16,400,000
|
2.25%, 05/15/2041
|
11,865,015
|
|
|
13,535,000
|
2.75%, 11/15/2042
|
10,209,937
|
|
|
56,000
|
2.88%, 05/15/2052
|
38,334
|
|
|
1,395,000
|
3.00%, 02/15/2048
|
1,017,587
|
|
|
23,885,000
|
3.00%, 08/15/2052(13)
|
16,761,485
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
U.S. GOVERNMENT SECURITIES - 34.6% - (continued)
|
|||
|
|
U.S. Treasury Securities - 34.6% - (continued)
|
||
|
|
U.S. Treasury Bonds - 10.6% - (continued)
|
||
|
$ 13,195,000
|
3.13%, 05/15/2048
|
$9,822,028
|
|
|
28,525,000
|
3.38%, 08/15/2042
|
23,656,808
|
|
|
55,565,000
|
3.38%, 11/15/2048(14)
|
43,052,023
|
|
|
8,720,000
|
3.63%, 08/15/2043
|
7,383,387
|
|
|
3,245,000
|
3.63%, 02/15/2044
|
2,731,758
|
|
|
30,905,000
|
3.63%, 05/15/2053
|
24,462,032
|
|
|
2,025,000
|
4.25%, 05/15/2039
|
1,951,752
|
|
|
9,880,000
|
4.25%, 08/15/2054
|
8,739,169
|
|
|
1,125,000
|
4.38%, 05/15/2040
|
1,084,922
|
|
|
3,720,000
|
4.50%, 08/15/2039
|
3,661,294
|
|
|
5,650,000
|
4.63%, 11/15/2045
|
5,398,398
|
|
|
1,560,000
|
4.63%, 02/15/2046
|
1,489,800
|
|
|
11,525,000
|
4.75%, 02/15/2056
|
11,096,414
|
|
|
16,700,000
|
5.00%, 05/15/2045
|
16,765,234
|
|
|
|
|
|
237,928,479
|
|
|
U.S. Treasury Inflation-Indexed Bonds - 1.5%
|
||
|
8,190,757
|
0.25%, 02/15/2050(15)
|
4,640,877
|
|
|
760,304
|
0.63%, 02/15/2043(15)
|
562,138
|
|
|
23,663,463
|
0.75%, 02/15/2042(15)
|
18,307,922
|
|
|
6,125,857
|
0.75%, 02/15/2045(15)
|
4,410,160
|
|
|
5,733,935
|
1.38%, 02/15/2044(15)
|
4,758,655
|
|
|
|
|
|
32,679,752
|
|
|
U.S. Treasury Notes - 22.5%
|
||
|
47,015,000
|
1.38%, 11/15/2031(16)
|
40,702,869
|
|
|
2,700,000
|
2.38%, 05/15/2027
|
2,661,082
|
|
|
10,740,000
|
2.75%, 08/15/2032
|
9,905,133
|
|
|
17,440,000
|
3.38%, 12/31/2027
|
17,297,619
|
|
|
825,300
|
3.38%, 02/29/2028
|
818,079
|
|
|
47,270,000
|
3.50%, 11/15/2028
|
46,806,532
|
|
|
36,100,000
|
3.50%, 01/15/2029
|
35,724,899
|
|
|
792,400
|
3.50%, 02/15/2029
|
783,857
|
|
|
23,000
|
3.50%, 03/15/2029
|
22,747
|
|
|
5,100,000
|
3.50%, 02/28/2031
|
4,986,047
|
|
|
14,200,000
|
3.63%, 08/31/2030
|
13,986,445
|
|
|
31,225,000
|
3.63%, 12/31/2030
|
30,713,934
|
|
|
47,305,000
|
3.75%, 05/31/2030
|
46,889,234
|
|
|
27,210,000
|
3.75%, 06/30/2030
|
26,963,409
|
|
|
1,715,700
|
3.75%, 01/31/2031
|
1,696,130
|
|
|
1,789,200
|
3.75%, 02/28/2033
|
1,741,954
|
|
|
2,790,000
|
3.88%, 03/31/2031
|
2,771,473
|
|
|
56,070,000
|
4.00%, 01/31/2029
|
56,194,843
|
|
|
23,045,000
|
4.00%, 01/31/2033
|
22,784,844
|
|
|
33,950,000
|
4.00%, 02/15/2034
|
33,347,918
|
|
|
59,585,000
|
4.00%, 11/15/2035
|
57,825,380
|
|
|
2,897,000
|
4.13%, 02/15/2036
|
2,835,891
|
|
|
12,980,000
|
4.25%, 05/15/2035
|
12,883,157
|
|
|
9,705,000
|
4.38%, 11/30/2030
|
9,849,817
|
|
|
24,625,000
|
4.38%, 01/31/2032
|
24,956,860
|
|
|
|
|
|
505,150,153
|
|
|
Total U.S. Government Securities
(cost $812,096,311)
|
|
$775,758,384
|
|
PREFERRED STOCKS - 0.0%
|
|||
|
|
Software & Services - 0.0%
|
||
|
456
|
Oracle Corp. Series D, 6.50%*
|
$22,193
|
|
|
|
Total Preferred Stocks
(cost $22,800)
|
|
$22,193
|
|
|
Total Long-Term Investments
(cost $2,668,139,690)
|
|
$2,610,036,454
|
|
|
89
|
|
|
Shares or Principal Amount
|
|
Market Value†
|
|
|
SHORT-TERM INVESTMENTS - 0.5%
|
|||
|
|
Repurchase Agreements - 0.2%
|
||
|
$ 4,934,053
|
Fixed Income Clearing Corp. Repurchase
Agreement dated 04/30/2026 at
3.64%, due on 05/01/2026 with a
maturity value of $4,934,552;
collateralized by U.S. Treasury Note at
3.88%, maturing 06/15/2028, with a
market value of $5,032,876
|
$4,934,053
|
|
|
|
Securities Lending Collateral - 0.3%
|
||
|
7,507,430
|
State Street Navigator Securities Lending
Government Money Market Portfolio,
3.62%(17)
|
7,507,430
|
|
|
|
Total Short-Term Investments
(cost $12,441,483)
|
$12,441,483
|
|
|
|
Total Investments
(cost $2,680,581,173)
|
116.9
%
|
$2,622,477,937
|
|
|
Other Assets and Liabilities
|
(16.9
)%
|
(379,632,289
)
|
|
|
Net Assets
|
100.0
%
|
$2,242,845,648
|
|
*
|
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 April 30, 2026, the aggregate value of these securities was
$564,871,321, representing 25.2% of net assets.
|
|
(2)
|
Variable or floating rate securities. Interest rate resets periodically. The rate
shown
is the effective interest rate as of period end. Security description also includes
the
reference rate and spread if published and available. Variable rate securities with
a
floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain
variable rate securities are not based on a published reference rate and spread but
are determined by the issuer or agent and are based on current market conditions;
these securities do not indicate a reference rate and spread in the description. For
fixed to variable securities, the rate remains fixed until designated date stated
in
security description.
|
|
(3)
|
Security is a “step-up” bond where coupon increases or steps up at a
predetermined date. Rate shown is current coupon rate.
|
|
(4)
|
Securities disclosed are interest-only strips.
|
|
(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 April 30, 2026, the aggregate value
of these securities was $58,233,283, representing 2.6% of net assets.
|
|
(6)
|
Represents entire or partial securities on loan.
|
|
(7)
|
Perpetual maturity security. Maturity date shown is the next call date or final legal
maturity date, whichever comes first.
|
|
(8)
|
Security has the ability to pay in kind (“PIK”) or pay income in cash. When
applicable, separate rates of such payments are disclosed.
|
|
(9)
|
The rate shown represents current yield to maturity.
|
|
(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 April 30, 2026, the market value of securities pledged was
$6,449,154.
|
|
(14)
|
All, or a portion of the security, was pledged as collateral in connection with TBAs.
As of April 30, 2026, the market value of securities pledged was $410,647.
|
|
(15)
|
The principal amount for these securities are adjusted for inflation and the interest
payments equal a fixed percentage of the inflation-adjusted principal amount.
|
|
(16)
|
All, or a portion of the security, was pledged as collateral in connection with
centrally cleared swap contracts. As of April 30, 2026, the market value of
securities pledged was $14,457,895.
|
|
(17)
|
Current yield as of period end.
|
|
Futures Contracts Outstanding at April 30, 2026
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Long position contracts:
|
||||
|
Australian 10-Year Bond Future
|
400
|
06/15/2026
|
$30,789,187
|
$(479,641
)
|
|
|
90
|
|
|
Futures Contracts Outstanding at April 30, 2026 – (continued)
|
||||
|
Description
|
Number of
Contracts
|
Expiration
Date
|
Current
Notional
Amount
|
Value and
Unrealized
Appreciation/
(Depreciation)
|
|
Long position contracts – (continued):
|
||||
|
Canadian 10-Year Bond Future
|
182
|
06/19/2026
|
$15,929,513
|
$(122,830
)
|
|
Euro BUXL 30-Year Bond Future
|
74
|
06/08/2026
|
9,460,081
|
(241,395
)
|
|
Euro-BUND Future
|
134
|
06/08/2026
|
19,705,166
|
(7,292
)
|
|
U.S. Treasury 10-Year Note Future
|
310
|
06/18/2026
|
34,284,063
|
25,296
|
|
U.S. Treasury 10-Year Ultra Future
|
337
|
06/18/2026
|
38,033,609
|
(145,291
)
|
|
U.S. Treasury Long Bond Future
|
475
|
06/18/2026
|
53,600,781
|
(1,970,622
)
|
|
U.S. Treasury Ultra Bond Future
|
245
|
06/18/2026
|
28,182,656
|
(439,749
)
|
|
Total
|
|
|
|
$(3,381,524
)
|
|
Short position contracts:
|
||||
|
Euro-BTP Italian Bond Future
|
(177)
|
06/08/2026
|
$(24,284,375
)
|
$119,567
|
|
Euro-OAT Future
|
(156)
|
06/08/2026
|
(21,825,899
)
|
57,445
|
|
Euro-Schatz Future
|
(524)
|
06/08/2026
|
(65,002,188
)
|
91,777
|
|
Long Gilt Future
|
(18)
|
06/26/2026
|
(2,117,932
)
|
129,837
|
|
U.S. Treasury 2-Year Note Future
|
(150)
|
06/30/2026
|
(31,068,750
)
|
91,677
|
|
U.S. Treasury 5-Year Note Future
|
(253)
|
06/30/2026
|
(27,282,492
)
|
78,606
|
|
Total
|
|
|
|
$568,909
|
|
Total futures contracts
|
$(2,812,615
)
|
|||
|
TBA Sale Commitments Outstanding at April 30, 2026
|
||||
|
Description
|
Principal
Amount
|
Maturity
Date
|
Market
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
Government National Mortgage Association, 3.00%
|
$475,000
|
05/20/2056
|
$(422,963
)
|
$614
|
|
Government National Mortgage Association, 4.00%
|
18,595,000
|
05/20/2056
|
(17,347,475
)
|
844
|
|
Government National Mortgage Association, 4.00%
|
9,275,000
|
06/20/2056
|
(8,648,037
)
|
80,607
|
|
Government National Mortgage Association, 4.50%
|
33,175,000
|
05/20/2056
|
(31,987,957
)
|
190,649
|
|
Government National Mortgage Association, 4.50%
|
11,025,000
|
06/23/2055
|
(10,621,037
)
|
92,162
|
|
Government National Mortgage Association, 5.00%
|
12,192,500
|
05/20/2056
|
(12,085,707
)
|
49,138
|
|
Uniform Mortgage-Backed Security, 2.50%
|
27,889,000
|
05/01/2056
|
(23,348,750
)
|
30,137
|
|
Uniform Mortgage-Backed Security, 2.50%
|
13,940,000
|
06/01/2056
|
(11,666,796
)
|
65,677
|
|
Uniform Mortgage-Backed Security, 3.50%
|
22,343,000
|
05/01/2056
|
(20,335,177
)
|
123,882
|
|
Uniform Mortgage-Backed Security, 4.00%
|
491,000
|
05/01/2056
|
(460,409
)
|
633
|
|
Total TBA sale commitments (proceeds receivable $137,558,651)
|
$(136,924,308
)
|
$634,343
|
||
|
At April 30, 2026, the aggregate market value of TBA Sale Commitments represents (6.1)%
of total net assets.
|
||||
|
Centrally Cleared Credit Default Swap Contracts Outstanding at April 30, 2026
|
|||||||||
|
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.S45.V2
|
USD
|
11,023,650
|
5.00%
|
12/20/2030
|
Quarterly
|
$676,686
|
$—
|
$866,633
|
$189,947
|
|
CDX.NA.HY.S46.V1
|
USD
|
16,125,000
|
5.00%
|
06/20/2031
|
Quarterly
|
826,923
|
—
|
1,240,826
|
413,903
|
|
CDX.NA.IG.S45.V1
|
USD
|
34,000,000
|
1.00%
|
12/20/2030
|
Quarterly
|
652,369
|
—
|
751,906
|
99,537
|
|
CDX.NA.IG.S46.V1
|
USD
|
1,375,000
|
1.00%
|
06/20/2031
|
Quarterly
|
27,019
|
—
|
30,416
|
3,397
|
|
ITRAXX-EUR S45.V1
|
EUR
|
2,350,000
|
1.00%
|
06/20/2031
|
Quarterly
|
37,070
|
—
|
56,549
|
19,479
|
|
Total
|
$2,220,067
|
$—
|
$2,946,330
|
$726,263
|
|||||
|
|
91
|
|
|
Centrally Cleared Credit Default Swap Contracts Outstanding at April 30, 2026 – (continued)
|
|||||||||
|
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 single-name
issues:
|
|
|
|
|
|
|
|
|
|
|
Sell protection:
|
|
||||||||
|
Oracle Corp. (BBB)
|
USD
|
6,085,000
|
1.00%
|
12/20/2030
|
Quarterly
|
$—
|
$(64,170
)
|
$(155,348
)
|
$(91,178
)
|
|
Paramount Global (BB+)
|
USD
|
2,400,000
|
1.00%
|
06/20/2031
|
Quarterly
|
—
|
(223,647
)
|
(189,392
)
|
34,255
|
|
Total
|
|
|
|
|
|
$—
|
$(287,817
)
|
$(344,740
)
|
$(56,923
)
|
|
Total centrally cleared credit default swap contracts
|
$2,220,067
|
$(287,817
)
|
$2,601,590
|
$669,340
|
|||||
|
(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 April 30, 2026
|
|||||||||
|
Payments made
by Fund
|
Payments received
by Fund
|
Notional
Amount
|
Expiration
Date
|
Periodic
Payment
Frequency
|
Upfront
Premiums
Paid
|
Upfront
Premiums
Received
|
Value†
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
3.70% Fixed
|
12 Mo. USD SOFR
|
USD
|
11,075,000
|
05/31/2029
|
Annual
|
$—
|
$—
|
$25,280
|
$25,280
|
|
3.38% Fixed
|
12 Mo. USD SOFR
|
USD
|
3,775,000
|
05/31/2030
|
Annual
|
—
|
—
|
45,114
|
45,114
|
|
3.60% Fixed
|
12 Mo. USD SOFR
|
USD
|
8,675,000
|
11/15/2032
|
Annual
|
—
|
—
|
95,015
|
95,015
|
|
4.16% Fixed
|
12 Mo. USD SOFR
|
USD
|
35,970,000
|
03/19/2045
|
Annual
|
—
|
(65,711
)
|
240,576
|
306,287
|
|
4.16% Fixed
|
12 Mo. USD SOFR
|
USD
|
2,450,000
|
04/09/2046
|
Annual
|
—
|
(2,559
)
|
21,018
|
23,577
|
|
2.97% Fixed
|
12 Mo. USD SOFR
|
USD
|
5,185,000
|
03/15/2053
|
Annual
|
2,814
|
—
|
1,052,006
|
1,049,192
|
|
2.88% Fixed
|
12 Mo. USD SOFR
|
USD
|
4,030,000
|
03/15/2053
|
Annual
|
42,087
|
—
|
876,666
|
834,579
|
|
3.25% Fixed
|
12 Mo. USD SOFR
|
USD
|
3,735,000
|
06/21/2053
|
Annual
|
—
|
(33,742
)
|
611,666
|
645,408
|
|
3.59% Fixed
|
12 Mo. USD SOFR
|
USD
|
8,150,000
|
09/20/2053
|
Annual
|
34,872
|
—
|
847,687
|
812,815
|
|
3.75% Fixed
|
12 Mo. USD SOFR
|
USD
|
3,325,000
|
12/18/2054
|
Annual
|
4,692
|
—
|
254,063
|
249,371
|
|
Total centrally cleared interest rate swaps contracts
|
$84,465
|
$(102,012
)
|
$4,069,091
|
$4,086,638
|
|||||
|
Foreign Currency Contracts Outstanding at April 30, 2026
|
||||||
|
Amount and Description of
Currency to be Purchased
|
Amount and Description of
Currency to be Sold
|
Counterparty
|
Settlement
Date
|
Appreciation/
(Depreciation)
|
||
|
23,664,000
|
EUR
|
27,698,972
|
USD
|
BNP
|
05/29/2026
|
$99,169
|
|
1,072,000
|
EUR
|
1,256,159
|
USD
|
GSC
|
05/29/2026
|
3,121
|
|
175,658
|
USD
|
150,000
|
EUR
|
JPM
|
05/29/2026
|
(547
)
|
|
609,668
|
USD
|
520,000
|
EUR
|
DEUT
|
05/29/2026
|
(1,177
)
|
|
92,561,669
|
USD
|
79,078,000
|
EUR
|
BNP
|
05/29/2026
|
(331,393
)
|
|
172,791
|
USD
|
128,000
|
GBP
|
JPM
|
05/29/2026
|
(1,137
)
|
|
5,093,658
|
USD
|
3,778,000
|
GBP
|
GSC
|
05/29/2026
|
(39,934
)
|
|
Total foreign currency contracts
|
$(271,898
)
|
|||||
|
|
92
|
|
|
Description
|
Total
|
Level 1
|
Level 2
|
Level 3(1)
|
|
Assets
|
|
|
|
|
|
Asset-Backed & Commercial Mortgage-Backed Securities
|
$466,352,452
|
$—
|
$466,352,452
|
$—
|
|
Convertible Bonds
|
756,512
|
—
|
756,512
|
—
|
|
Corporate Bonds
|
407,930,204
|
—
|
407,930,204
|
—
|
|
Foreign Government Obligations
|
50,435,958
|
—
|
50,435,958
|
—
|
|
Municipal Bonds
|
1,080,161
|
—
|
1,080,161
|
—
|
|
U.S. Government Agencies
|
907,700,590
|
—
|
907,700,590
|
—
|
|
U.S. Government Securities
|
775,758,384
|
—
|
775,758,384
|
—
|
|
Preferred Stocks
|
22,193
|
22,193
|
—
|
—
|
|
Short-Term Investments
|
12,441,483
|
7,507,430
|
4,934,053
|
—
|
|
Foreign Currency Contracts(2)
|
102,290
|
—
|
102,290
|
—
|
|
Futures Contracts(2)
|
594,205
|
594,205
|
—
|
—
|
|
Swaps - Credit Default(2)
|
760,518
|
—
|
760,518
|
—
|
|
Swaps - Interest Rate(2)
|
4,086,638
|
—
|
4,086,638
|
—
|
|
Total
|
$2,628,021,588
|
$8,123,828
|
$2,619,897,760
|
$—
|
|
Liabilities
|
|
|
|
|
|
Foreign Currency Contracts(2)
|
$(374,188
)
|
$—
|
$(374,188
)
|
$—
|
|
Futures Contracts(2)
|
(3,406,820
)
|
(3,406,820
)
|
—
|
—
|
|
Swaps - Credit Default(2)
|
(91,178
)
|
—
|
(91,178
)
|
—
|
|
TBA Sale Commitments
|
(136,924,308
)
|
—
|
(136,924,308
)
|
—
|
|
Total
|
$(140,796,494
)
|
$(3,406,820
)
|
$(137,389,674
)
|
$—
|
|
(1)
|
For the period ended April 30, 2026, 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.
|
|
|
93
|
|
|
Counterparty Abbreviations:
|
|
|
BCLY
|
Barclays
|
|
BNP
|
BNP Paribas Securities Services
|
|
BOA
|
Bank of America Securities LLC
|
|
CAG
|
Credit Agricole CIB
|
|
CBK
|
Citibank NA
|
|
DEUT
|
Deutsche Bank Securities, Inc.
|
|
GSC
|
Goldman Sachs & Co.
|
|
HSBC
|
Hongkong and Shanghai Banking Corporation
|
|
JPM
|
JP Morgan Chase & Co.
|
|
MSC
|
Morgan Stanley
|
|
NWM
|
NatWest Markets Plc
|
|
SCB
|
Standard Chartered Bank
|
|
SGG
|
Societe Generale Group
|
|
SSG
|
State Street Global Markets LLC
|
|
TDB
|
Toronto-Dominion Bank
|
|
UBS
|
UBS AG
|
|
WEST
|
Westpac International
|
|
WFB
|
Wells Fargo Bank NA
|
|
Currency Abbreviations:
|
|
|
ARS
|
Argentine Peso
|
|
AUD
|
Australia Dollar
|
|
BRL
|
Brazil Real
|
|
CAD
|
Canadian Dollar
|
|
CLP
|
Chile Peso
|
|
CNH
|
China Yuan Renminbi
|
|
COP
|
Colombia Peso
|
|
CZK
|
Czech Republic Koruna
|
|
DOP
|
Dominican Republic Peso
|
|
EGP
|
Egypt Pound
|
|
EUR
|
Euro Member Countries
|
|
GBP
|
British Pound
|
|
HKD
|
Hong Kong Dollar
|
|
HUF
|
Hungary Forint
|
|
IDR
|
Indonesia Rupiah
|
|
ILS
|
Israel Shekel
|
|
INR
|
Indian Rupee
|
|
KRW
|
Korean Won
|
|
KZT
|
Kazakhstan Tenge
|
|
MXN
|
Mexican Peso
|
|
MYR
|
Malaysia Ringgit
|
|
NGN
|
Nigeria Naira
|
|
NZD
|
New Zealand Dollar
|
|
PEN
|
Peru Nuevo Sol
|
|
PHP
|
Philippines Peso
|
|
PLN
|
Poland Zloty
|
|
PYG
|
Paraguay Guarani
|
|
RON
|
Romania New Leu
|
|
SGD
|
Singapore Dollar
|
|
THB
|
Thailand Baht
|
|
TRY
|
Turkish Currency
|
|
USD
|
United States Dollar
|
|
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
|
|
iBoxx
|
Markit iBoxx Indices - Euro, Sterling, Asian, US Dollar and
European High-Yield Bond Markets
|
|
ICE
|
Intercontinental Exchange, Inc.
|
|
ITRAXX-EUR
|
Markit iTraxx - Europe
|
|
ITRAXX-XOVER
|
iTraxx Europe Crossover
|
|
Municipal Abbreviations:
|
|
|
Auth
|
Authority
|
|
COP
|
Certificate of Participation
|
|
Dev
|
Development
|
|
Dist
|
District
|
|
Facs
|
Facilities
|
|
GO
|
General Obligation
|
|
Rev
|
Revenue
|
|
Other Abbreviations:
|
|
|
ADR
|
American Depositary Receipt
|
|
AG
|
Assured Guaranty Inc.
|
|
AMBAC
|
American Municipal Bond Assurance Corp.
|
|
ASA
|
Allmennaksjeselskap
|
|
BAM
|
Build America Mutual Assurance Co.
|
|
BIBOR
|
Bangkok Interbank Offered Rate
|
|
BZDIOVRA
|
Brazil Cetip Interbank Deposit Rate
|
|
CLICP
|
Sinacofi Chile Interbank Offered Rate
|
|
CLO
|
Collateralized Loan Obligation
|
|
CMO
|
Collateralized Mortgage Obligation
|
|
CPIBR
|
Consumer price index Brazil
|
|
ETF
|
Exchange-Traded Fund
|
|
EURIBOR
|
Euro Interbank Offered Rate
|
|
FHLMC
|
Federal Home Loan Mortgage Corp.
|
|
FNMA
|
Federal National Mortgage Association
|
|
GmbH
|
Gesellschaft mit beschränkter Haftung
|
|
GNMA
|
Government National Mortgage Association
|
|
HUD
|
Housing and Urban Development
|
|
JIBAR
|
Johannesburg Interbank Agreed Rate
|
|
MIBOR
|
Mumbai Inter-Bank Offered Rate
|
|
NPFG
|
National Public Finance Guarantee Corp.
|
|
PLTRCI
|
Polish Short-Term Rate - Compound Index
|
|
PRIBOR
|
Prague Interbank Offered Rate
|
|
PSF-GTD
|
Permanent School Fund
|
|
Q-SBLF
|
Qualified School Bond Loan Fund
|
|
REIT
|
Real Estate Investment Trust
|
|
SCH BD GTY
|
School Bond Guaranty
|
|
SIFMA
|
Securities Industry and Financial Markets Association
|
|
SOFR
|
Secured Overnight Financing Rate
|
|
SPDR
|
Standard & Poor's Depositary Receipt
|
|
ST AID
WITHHLDG
|
State Aid Withholding
|
|
ST APPROP
|
State Appropriation
|
|
ST INTERCEPT
|
State Intercept
|
|
TBA
|
To Be Announced
|
|
THOR
|
Thai Overnight Repurchase Rate
|
|
TIIE
|
Interbank Equilibrium Interest Rate
|
|
TLREF
|
Turkish Lira Overnight Reference Rate
|
|
WIBOR
|
Warsaw Interbank Offered Rate
|
|
|
94
|
|