ALLIANZ Variable Insurance Products Trust Semi-Annual Report

This report is submitted for the general information of the shareholder of the Fund. The report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus, which contains details concerning the sales charges and other pertinent information.

As a shareholder of the AZL DFA Five-Year Global Fixed Income Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.

The Actual Expense table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

The Hypothetical Expense table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.


Principal Amount			Value
Corporate Bonds (15.9%):
Capital Markets (1.3%):
$	2,250,000	National Securities Clearing Corp., 0.75%, 12/7/25, Callable 11/7/25 @ 100	$	2,041,484
	3,000,000	National Securities Clearing Corp., 0.75%, 12/7/25, Callable 11/7/25 @ 100(a)		2,721,978

				4,763,462

Diversified Financial Services (1.4%):
	5,144,000	Berkshire Hathaway, Inc., 3.13%, 3/15/26, Callable 12/15/25 @ 100		5,050,338

Food & Staples Retailing (0.9%):
	3,600,000	Walmart, Inc., 1.05%, 9/17/26, Callable 8/17/26 @ 100		3,281,936

Food Products (0.7%):
	2,550,000	Nestle Holdings, Inc., 0.63%, 1/15/26, Callable 12/15/25 @ 100(a)		2,299,460

Health Care (0.6%):
	2,000,000	Roche Holdings, Inc., 3.35%, 9/30/24, Callable 6/30/24 @ 100(a)		1,999,070

Household Products (1.2%):
	4,827,000	Procter & Gamble Co. (The), 1.00%, 4/23/26		4,420,562

Internet & Direct Marketing Retail (2.7%):
	2,000,000	Amazon.com, Inc., Class A, 2.73%, 4/13/24		1,988,022
	1,500,000	Amazon.com, Inc., 0.45%, 5/12/24		1,426,920
	6,725,000	Amazon.com, Inc., 1.00%, 5/12/26, Callable 4/12/26 @ 100		6,123,852

				9,538,794

IT Services (0.5%):
	1,682,000	Visa, Inc., 3.15%, 12/14/25, Callable 9/14/25 @ 100		1,661,935

Oil, Gas & Consumable Fuels (0.6%):
	100,000	Chevron Corp., 1.55%, 5/11/25, Callable 4/11/25 @ 100		94,914
	1,000,000	Chevron Corp., 2.95%, 5/16/26, Callable 2/16/26 @ 100		978,269
	1,000,000	Chevron USA, Inc., 0.69%, 8/12/25, Callable 7/12/25 @ 100		920,664
	200,000	Exxon Mobil Corp., 0.14%, 6/26/24, Callable 5/26/24 @ 100		202,997

				2,196,844

Pharmaceuticals (2.9%):
	1,000,000	Johnson & Johnson, 0.55%, 9/1/25, Callable 8/1/25 @ 100		918,829
	1,060,000	Merck & Co., Inc., 0.75%, 2/24/26, Callable 1/24/26 @ 100		961,150
	400,000	Novartis Capital Corp., 3.40%, 5/6/24		401,980
	2,000,000	Novartis Capital Corp., 3.00%, 11/20/25, Callable 8/20/25 @ 100		1,974,592
	2,400,000	Roche Holdings, Inc., 1.88%, 3/8/24(a)		2,343,410
	1,754,000	Roche Holdings, Inc., 0.99%, 3/5/26, Callable 2/5/26 @ 100(a)		1,602,404
	2,200,000	Roche Holdings, Inc., 2.63%, 5/15/26, Callable 2/15/26 @ 100(a)		2,120,331

				10,322,696

Technology Hardware, Storage & Peripherals (3.1%):
	1,000,000	Apple, Inc., 2.51%, 8/19/24, Callable 6/19/24 @ 100		758,197
	674,000	Apple, Inc., 1.13%, 5/11/25, Callable 4/11/25 @ 100		633,825


Principal Amount			Value
Corporate Bonds, continued
Technology Hardware, Storage & Peripherals, continued
$	3,376,000	Apple, Inc., 0.70%, 2/8/26, Callable 1/8/26 @ 100	$	3,073,747
	6,701,000	Apple, Inc., 3.25%, 2/23/26, Callable 11/23/25 @ 100		6,657,075

				11,122,844

	Total Corporate Bonds (Cost $60,781,576)			56,657,941

Foreign Bonds (19.5%):
Banking (0.1%):
	500,000	Royal Bank of Canada, 4.20%, 6/22/26, MTN+		339,566

Banks (3.6%):
	700,000	Bank of Montreal, 2.70%, 9/11/24+		531,141
	1,200,000	Bank of Nova Scotia (The), 2.29%, 6/28/24+		904,242
	700,000	Dexia Credit Local SA, 1.25%, 11/26/24+		731,209
	200,000	National Australia Bank, Ltd., 0.25%, 5/20/24, MTN+		203,477
	600,000	Nordic Investment Bank, 3.40%, 2/6/26, MTN+		404,676
	8,000,000	Royal Bank of Canada, 4.93%, 7/16/25+		6,367,863
	100,000	Svenska Handelsbanken AB, 0.13%, 6/18/24, MTN+		101,549
	2,500,000	Toronto-Dominion Bank (The), 3.23%, 7/24/24+		1,916,919
	2,400,000	Westpac Banking Corp., 4.13%, 6/4/26, MTN+		1,630,596

				12,791,672

Capital Markets (0.9%):
	1,000,000	International Finance Corp., 4.00%, 4/3/25, MTN+		694,086
	3,500,000	International Finance Corp., 3.20%, 7/22/26, MTN+		2,340,660

				3,034,746

Diversified Financial Services (1.9%):
	700,000	BNG Bank NV, 3.25%, 7/15/25, MTN+		473,088
	700,000	European Financial Stability Facility, 2.13%, 2/19/24, MTN+		747,543
	49,000	European Financial Stability Facility, 1.75%, 6/27/24, MTN+		52,029
	200,000	European Financial Stability Facility, 0.40%, 2/17/25, MTN+		205,185
	7,000,000	European Investment Bank, 0.75%, 9/9/24, MTN+		678,997
	200,000	European Investment Bank, 0.88%, 9/13/24, MTN+		208,366
	140,000	European Investment Bank, 0.00%, 3/25/25, MTN+		141,755
	2,000,000	European Investment Bank, 1.25%, 5/12/25, MTN+		188,038
	800,000	European Stability Mechanism, 0.00%, 12/16/24+		815,491
	900,000	European Stability Mechanism, 0.00%, 3/14/25+		912,693
	1,900,000	Kreditanstalt fuer Wiederaufbau, 4.00%, 2/27/25, MTN+		1,319,931
	500,000	Kreditanstalt fuer Wiederaufbau, 3.20%, 9/11/26, MTN+		333,786
	1,100,000	Landwirtschaftliche Rentenbank, 4.75%, 5/6/26, MTN+		778,776

				6,855,678

Financial Services (0.6%):
	1,000,000	OMERS Finance Trust, 0.45%, 5/13/25+		1,013,422
	950,000	Ontario Teachers’ Finance Trust, 0.50%, 5/6/25+		965,031

				1,978,453

Financials (0.0%^†):
	150,000	Euroclear Bank SA, 0.13%, 7/7/25, MTN+		148,396

Health Care (0.1%):
	100,000	Novo Nordisk Finance Netherlands BV, 0.75%, 3/31/25, Callable 2/28/25 @ 100, MTN+		102,206


Principal Amount			Value
Foreign Bonds, continued
Health Care, continued
$	200,000	Roche Finance Europe BV, 0.88%, 2/25/25, Callable 11/25/24 @ 100, MTN+	$	206,171

				308,377

Industrial Services (0.2%):
	800,000	Societe Nationale SNCF SA, 4.13%, 2/19/25, MTN+		886,733

Insurance (0.1%):
	400,000	UNEDIC ASSEO, 0.13%, 11/25/24, MTN+		407,871

National (0.8%):
	1,200,000	Agence Francaise de Developpement EPIC, 0.00%, 3/25/25, MTN+		1,214,422
	200,000	Bpifrance SACA, 0.75%, 11/25/24+		207,198
	200,000	Bpifrance SACA, 0.50%, 5/25/25, MTN+		204,447
	400,000	Kreditanstalt fuer Wiederaufbau, 0.13%, 10/4/24+		411,128
	540,000	Kreditanstalt fuer Wiederaufbau, 0.00%, 11/15/24, MTN+		552,323
	200,000	Kreditanstalt fuer Wiederaufbau, 0.00%, 2/18/25, MTN+		203,649
	159,000	Kreditanstalt fuer Wiederaufbau, 0.38%, 4/23/25+		163,063

				2,956,230

Oil & Gas (0.1%):
	300,000	Shell International Finance BV, 0.50%, 5/11/24, MTN+		308,233

Pharmaceuticals (0.1%):
	100,000	Abbott Ireland Financing DAC, 0.10%, 11/19/24, Callable 10/19/24 @ 100+		100,663
	100,000	Sanofi, 0.88%, 4/6/25, Callable 3/6/25 @ 100+		102,398

				203,061

Regional & Local (1.7%):
	8,000,000	Kommuninvest I Sverige AB, 1.00%, 10/2/24, MTN+		755,979
	1,000,000	Province of Alberta Canada, 0.50%, 4/16/25+		1,020,118
	700,000	Province of Alberta Canada, 0.63%, 4/18/25+		715,894
	200,000	Province of Quebec Canada, 0.88%, 1/15/25+		206,488
	4,000,000	Queensland Treasury Corp., 3.25%, 7/21/26+(a)		2,716,059
	500,000	South Australian Government Financing Authority, 2.25%, 8/15/24+		337,554
	500,000	Western Australian Treasury Corp., 2.50%, 7/23/24+		340,405

				6,092,497

Sovereign Bond (9.1%):
	500,000	African Development Bank, 4.75%, 3/6/24, MTN+		351,256
	1,000,000	Asian Development Bank, 3.75%, 3/12/25, MTN+		689,932
	1,000,000	Asian Development Bank, 0.50%, 5/5/26, MTN+		603,539
	8,000,000	Australia Government Bond, 0.25%, 11/21/25+		4,996,639
	1,500,000	Australia Government Bond, 4.25%, 4/21/26+		1,070,683
	1,000,000	Australia Government Bond, 0.50%, 9/21/26+		614,215
	24,000,000	Denmark Government Bond, 0.00%, 11/15/24+		3,306,240
	100,000	European Union, 0.50%, 4/4/25, MTN+		102,936
	420,000	European Union, 0.80%, 7/4/25+		435,244
	1,500,000	French Republic Government Bond OAT, 0.00%, 2/25/25+		1,528,636
	300,000	Inter-American Development Bank, 2.75%, 10/30/25, MTN+		199,715
	300,000	Inter-American Development Bank, 4.25%, 6/11/26, MTN+		208,361


Principal Amount			Value
Foreign Bonds, continued
Sovereign Bond, continued
$	2,500,000	International Bank for Reconstruction & Development, 0.50%, 5/18/26, MTN+	$	1,506,846
	300,000	Kingdom of Belgium Government Bond, 0.50%, 10/22/24+(a)		311,763
	900,000	Kingdom of Belgium Government Bond, 0.80%, 6/22/25+(a)		935,476
	1,100,000	Netherlands Government Bond, 2.00%, 7/15/24+(a)		1,181,626
	300,000	Netherlands Government Bond, 0.25%, 7/15/25+(a)		307,236
	9,200,000	New South Wales Treasury Corp., 4.00%, 5/20/26+		6,415,436
	4,500,000	New Zealand Local Government Funding Agency Bond, 2.25%, 4/15/24+		2,722,207
	500,000	New Zealand Local Government Funding Agency Bond, 2.75%, 4/15/25+		300,552
	11,100,000	Norway Government Bond, 1.75%, 3/13/25+(a)		1,092,491
	500,000	Province of Ontario Canada, 3.10%, 8/26/25, MTN+		335,343
	1,000,000	Sweden Government Bond, 2.50%, 5/12/25+		99,432
	5,200,000	Treasury Corp. of Victoria, 0.50%, 11/20/25, MTN+		3,227,289

				32,543,093

Supranationals (0.2%):
	438,000	Council Of Europe Development Bank, 0.38%, 3/27/25, MTN+		446,490
	100,000	Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial, 0.25%, 2/9/24, MTN+		103,202

				549,692

	Total Foreign Bonds (Cost $76,725,520)			69,404,298

Yankee Debt Obligations (43.2%):
Banks (8.9%):
	1,000,000	Bank of New Zealand, 1.00%, 3/3/26(a)		893,934
	2,400,000	Commonwealth Bank of Australia, 1.13%, 6/15/26(a)		2,150,299
	300,000	Cooperatieve Rabobank UA, 1.38%, 1/10/25^		282,573
	1,400,000	Dexia Credit Local SA, 0.50%, 7/16/24		1,327,610
	400,000	Dexia Credit Local SA, 1.13%, 4/9/26(a)		369,472
	1,716,000	Dexia Credit Local SA, 1.13%, 4/9/26		1,585,033
	400,000	National Australia Bank, Ltd., 1.39%, 1/12/25(a)		377,851
	1,000,000	National Australia Bank, Ltd., 3.38%, 1/14/26		981,356
	3,000,000	Nordea Bank Abp, 0.75%, 8/28/25(a)		2,712,636
	2,000,000	Skandinaviska Enskilda Banken AB, 0.85%, 9/2/25(a)		1,813,664
	7,100,000	Skandinaviska Enskilda Banken AB, 1.20%, 9/9/26(a)		6,356,602
	1,250,000	Svenska Handelsbanken AB, 0.55%, 6/11/24(a)		1,174,135
	3,860,000	Toronto-Dominion Bank (The), 0.75%, 1/6/26, MTN^		3,452,280
	19,000	Toronto-Dominion Bank (The), 1.20%, 6/3/26		17,026
	1,000,000	Westpac Banking Corp., 1.02%, 11/18/24		939,552
	2,891,000	Westpac Banking Corp., 2.35%, 2/19/25		2,789,939
	1,000,000	Westpac Banking Corp., 2.85%, 5/13/26		959,600
	3,490,000	Westpac Banking Corp., 1.15%, 6/3/26		3,135,203

				31,318,765

Capital Markets (1.8%):
	1,000,000	Erste Abwicklungsanstalt, 0.25%, 3/1/24, MTN		955,010
	2,400,000	Erste Abwicklungsanstalt, 0.88%, 10/30/24, MTN		2,282,016
	1,000,000	PSP Capital, Inc., 0.50%, 9/15/24		944,900
	2,228,000	PSP Capital, Inc., 1.00%, 6/29/26(a)		2,032,509

				6,214,435


Principal Amount			Value
Yankee Debt Obligations, continued
Diversified Financial Services (13.5%):
$	7,200,000	Agence Francaise de Developpement Epic, 0.63%, 1/22/26, MTN	$	6,575,040
	2,894,000	Bng Bank NV, 0.50%, 11/24/25, MTN		2,646,835
	668,000	Bng Bank NV, 0.88%, 5/18/26, MTN		611,828
	674,000	BNG Bank NV, 2.38%, 3/16/26		658,228
	3,644,000	BNG Bank NV, 0.88%, 5/18/26(a)		3,337,612
	1,000,000	CPPIB Capital, Inc., 1.25%, 3/4/25		952,780
	9,650,000	CPPIB Capital, Inc., 0.88%, 9/9/26(a)		8,756,892
	2,626,000	European Bank for Reconstruction & Development, 0.50%, 1/28/26		2,395,424
	200,000	European Investment Bank, 3.25%, 1/29/24		200,858
	1,388,000	Kommunalbanken AS, 2.13%, 4/23/25		1,349,025
	648,000	Kommunalbanken AS, 0.38%, 9/11/25		593,929
	1,000,000	Kommunalbanken AS, 0.50%, 1/13/26, MTN		911,598
	2,800,000	Kommunalbanken AS, 0.60%, 6/1/26, MTN		1,685,821
	1,244,000	Kommunalbanken AS, 1.13%, 10/26/26(a)		1,143,119
	3,470,000	Kommunekredit, 0.50%, 1/28/26, MTN		3,157,665
	1,834,000	Kreditanstalt fuer Wiederaufbau, 0.25%, 3/8/24		1,752,000
	4,747,000	Landwirtschaftliche Rentenbank, 0.88%, 3/30/26		4,365,560
	1,227,000	Nrw Bank, 0.88%, 3/9/26, MTN		1,124,941
	5,857,000	Ontario Teachers’ Finance Trust, 0.88%, 9/21/26(a)		5,237,915
	300,000	Shell International Finance BV, 3.25%, 5/11/25		296,735
	390,000	Shell International Finance BV, 2.88%, 5/10/26		377,733

				48,131,538

National (2.2%):
	465,000	Export Development Canada, 2.63%, 2/21/24		462,482
	1,000,000	Kommunalbanken AS, 2.00%, 6/19/24, MTN		978,960
	750,000	Nederlandse Waterschapsbank NV, 1.13%, 3/15/24, MTN		725,520
	2,402,000	Oesterreichische Kontrollbank AG, 0.50%, 9/16/24		2,271,446
	2,000,000	Oesterreichische Kontrollbank AG, 0.38%, 9/17/25		1,832,282
	2,000,000	Svensk Exportkredit AB, 0.38%, 3/11/24		1,911,368

				8,182,058

Oil, Gas & Consumable Fuels (1.2%):
	4,000,000	Equinor ASA, 1.75%, 1/22/26, Callable 12/22/25 @ 100		3,733,716
	700,000	Shell International Finance BV, 2.00%, 11/7/24, Callable 10/7/24 @ 100		679,591

				4,413,307

Regional & Local (2.2%):
	1,000,000	Kommuninvest I Sverige AB, 1.38%, 5/8/24(a)		968,834
	3,000,000	Kommuninvest I Sverige AB, 1.38%, 5/8/24, MTN		2,906,502
	1,486,000	Kommuninvest I Sverige AB, 2.88%, 7/3/24(a)		1,476,824
	2,581,000	Landeskreditbank Baden-Wuerttemberg Foerderbank, 2.00%, 7/23/24, MTN		2,527,031

				7,879,191

Sovereign Bond (12.7%):
	1,457,000	African Development Bank, 0.88%, 3/23/26		1,341,466
	950,000	African Development Bank, 0.88%, 7/22/26		869,069
	2,215,000	Asian Development Bank, 1.00%, 4/14/26		2,048,784
	844,000	Asian Infrastructure Investment Bank (The), 2.25%, 5/16/24		830,084
	7,687,000	Asian Infrastructure Investment Bank (The), 0.50%, 1/27/26^		6,978,482
	741,000	Inter-American Development Bank, 0.88%, 4/20/26		682,629


Shares or Principal Amount			Value
Yankee Debt Obligations, continued
Sovereign Bond, continued
$	489,000	Inter-American Investment Corp., 0.63%, 2/10/26, MTN	$	445,254
	3,714,000	International Bank for Reconstruction & Development, 2.50%, 3/19/24		3,685,280
	2,578,000	Kuntarahoitus OYJ, 0.63%, 3/20/26, MTN		2,350,772
	1,000,000	Province of Manitoba Canada, 2.60%, 4/16/24		990,917
	2,000,000	Province of Ontario Canada, 3.05%, 1/29/24		1,999,144
	3,650,000	Province of Ontario Canada, 0.63%, 1/21/26^		3,329,070
	4,521,000	Province of Ontario Canada, 1.05%, 4/14/26		4,163,814
	5,120,000	Province of Quebec Canada, 2.50%, 4/9/24		5,067,018
	5,200,000	SFIL SA, 0.63%, 2/9/26, MTN		4,733,196
	3,400,000	State of North Rhine-Westphalia Germany, 1.00%, 4/21/26, MTN		3,136,296
	2,800,000	Svensk Exportkredit AB, 0.38%, 7/30/24		2,647,817

				45,299,092

Supranationals (0.7%):
	857,000	Asian Infrastructure Investment Bank (The), 0.50%, 10/30/24		807,003
	400,000	Inter-American Development Bank, 3.00%, 2/21/24		400,200
	324,000	Inter-American Investment Corp., 1.75%, 10/2/24		314,332
	1,000,000	International Bank for Reconstruction & Development, 2.25%, 3/28/24		987,640

				2,509,175

	Total Yankee Debt Obligations (Cost $164,632,037)			153,947,561

U.S. Treasury Obligations (19.7%):
U.S. Treasury Notes (19.7%)
	3,500,000	0.13%, 12/15/23		3,360,000
	10,000,000	0.75%, 12/31/23		9,678,125
	3,000,000	2.50%, 1/31/24		2,978,906
	8,500,000	0.88%, 1/31/24		8,229,063
	3,000,000	2.75%, 2/15/24		2,991,094
	6,700,000	0.13%, 2/15/24		6,403,734
	4,000,000	2.13%, 2/29/24		3,947,500
	11,000,000	2.38%, 2/29/24		10,902,031
	12,000,000	0.25%, 3/15/24		11,461,875
	7,000,000	0.38%, 4/15/24		6,686,094
	4,000,000	0.63%, 10/15/24		3,792,500

				70,430,922

	Total U.S. Treasury Obligations (Cost $71,079,138)			70,430,922

Short-Term Security Held as Collateral for Securities on Loan (2.0%):
	7,081,492	BlackRock Liquidity FedFund, Institutional Class , 0.19%(b)(c)		7,081,492

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $7,081,492)			7,081,492

Unaffiliated Investment Company (2.2%):
Money Markets (2.2%):
	7,723,988	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(c)		7,723,988

	Total Unaffiliated Investment Company (Cost $7,723,988)			7,723,988

	Total Investment Securities (Cost $388,023,751) — 102.5%			365,246,202
	Net other assets (liabilities) — (2.5)%			(8,821,341	)

	Net Assets — 100.0%		$	356,424,861

The following represents the concentrations by country of risk (based on the domicile of the security issuer) relative to the total value of investments as of June 30, 2022:

Balances Reported in the Statement of Assets and Liabilities for Forward Currency Contracts

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	388,023,751

Investment securities, at value(a)	$	365,246,202
Cash		4,328
Interest and dividends receivable		1,518,409
Foreign currency, at value (cost $22,136)		22,037
Unrealized appreciation on forward currency contracts		2,331,876
Receivable for capital shares issued		894
Receivable for investments sold		7,806,999
Prepaid expenses		1,046

Total Assets		376,931,791

Liabilities:
Unrealized depreciation on forward currency contracts		152,474
Payable for investments purchased		12,871,322
Payable for capital shares redeemed		115,825
Payable for collateral received on loaned securities		7,081,492
Manager fees payable		147,790
Administration fees payable		46,930
Distribution fees payable		73,895
Custodian fees payable		3,297
Administrative and compliance services fees payable		499
Transfer agent fees payable		1,173
Trustee fees payable		4,164
Other accrued liabilities		8,069

Total Liabilities		20,506,930

Net Assets	$	356,424,861

Net Assets Consist of:
Paid in capital	$	382,347,576
Total distributable earnings		(25,922,715	)

Net Assets	$	356,424,861

Shares of beneficial interest (unlimited number of shares authorized, no par value)		40,002,831
Net Asset Value (offering and redemption price per share)	$	8.91

(a)	Includes securities on loan of $6,916,061.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Interest	$	2,477,528
Dividends		3,773
Income from securities lending		2,659

Total Investment Income		2,483,960

Expenses:
Management fees		1,148,929
Administration fees		41,747
Distribution fees		478,718
Custodian fees		10,279
Administrative and compliance services fees		2,147
Transfer agent fees		2,511
Trustee fees		8,496
Professional fees		6,884
Shareholder reports		2,352
Other expenses		3,593

Total expenses		1,705,656
Less Management fees contractually waived		(191,486	)

Net expenses		1,514,170

Net Investment Income/(Loss)		969,790

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities and foreign currencies		(13,631,237	)
Net realized gains/(losses) on forward currency contracts		20,671
Change in net unrealized appreciation/depreciation on securities and foreign currencies		(14,781,980	)
Change in net unrealized appreciation/depreciation on forward currency contracts		2,338,212

Net realized and Change in net unrealized gains/losses on investments		(26,054,334	)

Change in Net Assets Resulting From Operations	$	(25,084,544	)

(Selected data for a share of beneficial interest outstanding throughout the periods indicated. Does not reflect fees or expenses associated with the separate accounts that invest in the Fund or in any variable annuity contracts or variable life insurance policy for which the Fund serves as an investment vehicle.)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services — Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL DFA Five-Year Global Fixed Income Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

The Trust is authorized to issue an unlimited number of shares of the Fund without par value. Shares of the Fund are available through the variable annuity contracts and variable life insurance policies offered through the separate accounts of participating insurance companies. Currently, the Fund only offers its shares to separate accounts of Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York, affiliates of the Trust and the Manager, as defined below.

Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In addition, in the normal course of business, the Fund may enter into contracts with its vendors and others that provide for general indemnifications. The Fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Fund. However, based on experience, the Fund expects the risk of loss to be remote.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements. The policies conform with U.S. generally accepted accounting principles (“U.S. GAAP”). The preparation of financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

The Fund records its investments at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. The valuation techniques used to determine fair value are further described in Note 4 below.

Investment transactions are accounted for on trade date. Net realized gains and losses on investments sold and on foreign currency transactions are recorded on the basis of identified cost. Interest income is recorded on the accrual basis and includes, where applicable, the amortization of premiums or accretion of discounts. Dividend income is recorded on the ex-dividend date except in the case of foreign securities, in which case dividends are recorded as soon as such information becomes available.

The accounting records of the Fund are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at the current rate of exchange to determine the fair value of investments, assets and liabilities. Purchases and sales of securities, and income and expenses are translated at the prevailing rate of exchange on the respective dates of such transactions. The Fund does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included in the net realized and unrealized gain or loss on investments and foreign currencies.

Distributions to shareholders are recorded on the ex-dividend date. The Fund distributes its dividends from net investment income and net realized capital gains, if any, on an annual basis. The amount of distributions from net investment income and from net realized gains is determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. These “book/tax” differences are either temporary or permanent in nature. To the extent these differences are permanent in nature (e.g., return of capital, net operating loss, reclassification of certain market discounts, gain/loss, paydowns, and distributions), such amounts are reclassified within the composition of net assets based on their federal tax-basis treatment; temporary differences (e.g., wash sales and differing treatment on certain investments) do not require reclassification. Distributions to shareholders that exceed net investment income and net realized gains for tax purposes are reported as distributions of capital.

Expenses directly attributable to the Fund are charged directly to the Fund, while expenses attributable to more than one Fund are allocated among the respective Funds based upon relative net assets or some other reasonable method. Expenses which are attributable to more than one Trust are allocated across the Allianz Variable Insurance Products Trust, Allianz Variable Insurance Products Fund of Funds Trust and AIM ETF Products Trust based upon relative net assets or another reasonable basis. Allianz Investment Management LLC (the “Manager”), serves as the investment manager for the Trust, Allianz Variable Insurance Products Fund of Funds Trust and AIM ETF Products Trust.

This report does not reflect fees or expenses associated with the separate accounts that invest in the Fund or in any variable annuity contracts or variable life insurance policy for which the Fund serves as an investment vehicle.

which would result in a loss to the Fund. The investment of cash collateral deposited by the borrower is subject to inherent market risks such as interest rate risk, credit risk, liquidity risk, and other risks that are present in the market, and as such, the value of these investments may not be sufficient, when liquidated, to repay the borrower when the loaned security is returned. There may be risks of delay in recovery of the securities or even loss of rights in the collateral should the borrower of the securities fail financially. However, loans will be made only to borrowers, such as broker-dealers, banks or institutional borrowers of securities, deemed by the Manager to be of good standing and credit worthy and when in its judgment, the consideration which can be earned currently from such securities loans justifies the attendant risks. Loans are subject to termination by the Trust or the borrower at any time, and are, therefore, not considered to be illiquid investments. Securities on loan at June 30, 2022 are presented on the Fund’s Schedule of Portfolio Investments.

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $257 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $7,081,492 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

Pursuant to Rule 17a-7 under the 1940 Act, the Fund may engage in securities transactions with affiliated investment companies and advisory accounts managed by the Manager and Subadviser. Any such purchase or sale transaction must be effected without a brokerage commission or other remuneration, except for customary transfer fees. The transaction must be effected at the current market price, which is either the security’s last sale price on an exchange or, if there are no transactions in the security that day, at the average of the highest bid and lowest asked price. During the period ended June 30, 2022, the Fund did not engage in any Rule 17a-7 transactions.

All open derivative positions at period end are reflected on the Fund’s Schedule of Portfolio Investments. The following is a description of the derivative instruments utilized by the Fund, including the primary underlying risk exposures related to each instrument type.

During the period ended June 30, 2022, the Fund entered into forward currency contracts in connections with planned purchases or sales of securities or to hedge the U.S. dollar value of securities denominated in a particular currency. In addition to the foreign currency risk related to the use of these contracts, the Fund could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar. In the event of default by the counterparty to the transaction, the Fund’s maximum amount of loss, as either the buyer or the seller, is the unrealized appreciation of the contract. The forward currency contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded for financial statement purposes as unrealized gains or losses until the contract settlement date. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. For the period ended June 30, 2022, the monthly average notional amount for long contracts was $4.9 million and the monthly average notional amount for short contracts was $79.9 million. Realized gains and losses are reported as “Net realized gains/(losses) on forward currency contracts” on the Statement of Operations.

The following is a summary of the values of derivative instruments on the Fund’s Statement of Assets and Liabilities, categorized by risk exposure, as of June 30, 2022:

The following is a summary of the effect of derivative instruments on the Statement of Operations, categorized by risk exposure, for the period ended June 30, 2022:

The Fund is generally subject to master netting agreements that allow for amounts owed between the Fund and the counterparty to be netted. The party that has the larger payable pays the excess of the larger amount over the smaller amount to the other party. The master netting agreements do not apply to amounts owed to/from different counterparties. The amounts shown in the Statement of Assets and Liabilities do not take into consideration the effects of legally enforceable master netting agreements. The table below presents the gross and net amounts of these assets and liabilities with any offsets to reflect the Fund’s ability to transact net amounts in accordance with the master netting agreements at June 30, 2022. For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to master netting arrangements in the Statement of Assets and Liabilities. This table also summarizes the fair values of derivative instruments on the Fund’s Statement of Assets and Liabilities, categorized by risk exposure, as of June 30, 2022.

As of June 30, 2022, the Fund’s derivative assets and liabilities by type were as follows:

The following table presents the Fund’s derivative assets by counterparty net of amounts available for offset under MNA and net of the related collateral received by the Fund as of June 30, 2022:

The following table presents the Fund’s derivative liabilities by counterparty net of amounts available for offset under MNA and net of the related collateral received by the Fund as of June 30, 2022:

The Manager provides investment advisory and management services for the Fund. The Manager has retained an independent money management organization (the “Subadviser”), to make investment decisions on behalf of the Fund. Pursuant to a subadvisory agreement with Dimensional Fund Advisors LP (“DFA”), DFA provides investment advisory services as the Subadviser for the Fund subject to the general supervision of the Trustees and the Manager. The Manager is entitled to a fee, computed daily and paid monthly, based on the average daily net assets of the Fund. Expenses incurred by the Fund for investment advisory and management services are reflected on the Statement of Operations as “Management fees.” For its services, the Subadviser is entitled to a fee payable by the Manager. The Manager has contractually agreed to waive fees and reimburse the Fund to limit the annual expenses, excluding interest expense (e.g., cash overdraft fees), taxes, brokerage commissions, acquired fund fees and expenses, other expenditures that are capitalized in accordance with U.S. GAAP and other extraordinary expenses not incurred in the ordinary course of the Fund’s business, based on the daily net assets of the Fund, through April 30, 2023.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

Any amounts contractually waived or reimbursed by the Manager with respect to the annual expense limit in a particular fiscal year will be subject to repayment by the Fund to the Manager to the extent that from time to time through the next three fiscal years the repayment will not cause the Fund’s expenses to exceed the lesser of the stated limit at the time of the waiver or the current stated limit. Any amounts recouped by the Manager during the period are reflected on the Statement of Operations as “Recoupment of prior expenses reimbursed by the Manager.” At June 30, 2022, there were no remaining contractual reimbursements subject to repayment by the Fund in subsequent years.

Management fees which the Manager waived prior to any application of expense limit are not subject to repayment in subsequent years. Information on the total amount waived/reimbursed by the Manager or repaid to the Manager by the Fund during the year can be found on the Statement of Operations.

Pursuant to separate agreements between the Trust and the Manager, the Manager provides a Chief Compliance Officer (“CCO”) and certain compliance oversight and regulatory filing services to the Trust. Under these agreements, the Manager is entitled to an amount equal to a portion of the compensation and certain other expenses related to the individuals performing the CCO and compliance oversight services, as well as $100 per hour for time incurred in connection with the preparation and filing of certain documents with the SEC. The fees are paid to the Manager on a quarterly basis. The total expenses incurred by the Fund for these services are reflected on the Statement of Operations as “Administrative and compliance services fees.”

Citi Fund Services Ohio, Inc. (“Citi” or the “Administrator”), a wholly owned subsidiary of Citigroup, Inc., with which an officer of the Trust is affiliated, serves as the Trust’s administrator and fund accountant, and assists the Trust in all aspects of its administration and operation. The Administrator is entitled to a Trust-wide asset-based fee, which is based on the following schedule: 0.05% of daily average net assets on the first $4 billion, 0.04% of daily average net assets on the next $2 billion, 0.02% of daily average net assets on the next $2 billion and 0.01% of daily average net assets over $8 billion. The overall Trust-wide fees are accrued daily and paid monthly and are subject to a minimum annual fee. The Administrator is entitled to an annual fee for each additional class of shares of any Fund, certain annual fees in supporting fair value services, and a Trust-wide annual fee for providing infrastructure and support in implementing the written policies and procedures comprising the Fund’s compliance program. The Administrator is also reimbursed for certain expenses incurred. The total expenses incurred by the Fund for these services are reflected on the Statement of Operations as “Administration fees.”

FIS Investor Services LLC (“FIS”) serves as the Fund’s transfer agent. Under the Transfer Agent Agreement, the Trust pays FIS a fee for its services and reimburses FIS for all of their reasonable out-of-pocket expenses incurred in providing these services.

The Bank of New York Mellon (“BNY Mellon” or the “Custodian”) serves as the Trust’s custodian and securities lending agent. For these services as custodian, the Funds pay BNY Mellon a fee based on a percentage of assets held on behalf of the Funds, plus certain out-of-pocket charges.

Allianz Life Financial Services, LLC (“ALFS”), an affiliate of the Manager, serves as distributor of the Fund. ALFS receives an annual 12b-1 fee in the maximum amount of 0.25% of the Fund’s average daily net assets, plus a Trust-wide annual fee of $42,500 paid by the Manager from its profits and not by the Trust, for recordkeeping and reporting services.

Certain Officers and Trustees of the Trust are affiliated with the Manager or the Administrator. Such Officers (except for the Trust’s CCO as noted above) and Trustees receive no compensation from the Trust for serving in their respective roles.

The valuation techniques employed by the Fund, as described below, maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. The inputs used for valuing the Fund’s investments are summarized in the three broad levels listed below:

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The inputs or methodology used for valuing investments is not necessarily an indication of the risk associated with investing in those investments.

Security prices are generally provided by an independent third party pricing service approved by the Trust’s Board of Trustees (the “Board” or “Trustees”) as of the close of the New York Stock Exchange (“NYSE”) (generally 4:00 pm Eastern Time). Equity securities are valued at the last quoted sale price or, if there is no sale, the last quoted bid price is used for long securities and the last quoted ask price is used for securities sold short. Securities listed on NASDAQ Stock Market, Inc. (“NASDAQ”) are valued at the official closing price as reported by NASDAQ. In each of these situations, valuations are typically categorized as a Level 1 in the fair value hierarchy. The independent third party pricing service may also use systematic valuations models or provide evaluated bid or mean prices. These valuations are considered as Level 2 in the fair value hierarchy. Investments in open-end investment companies are valued at their respective net asset value as reported by such companies and are typically categorized as Level 1 in the fair value hierarchy.

Debt and other fixed income securities are generally valued at an evaluated bid price provided by an independent pricing source approved by the Trustees. To value debt securities, pricing services may use various pricing techniques which take into account appropriate factors such as market activity, yield, quality, coupon rate, maturity, type of issue, trading characteristics, call features, credit ratings and other data, as well as broker quotes. Short-term securities of sufficient credit quality with sixty days or less remaining until maturity may be valued at amortized cost, which approximates fair value. In each of these situations, valuations are typically categorized as Level 2 in the fair value hierarchy.

Forward currency contracts are generally valued at the forward foreign currency exchange rate as of the close of the NYSE and are typically categorized as Level 2 in the fair value hierarchy.

Other assets and securities for which market quotations are not readily available, or are deemed unreliable are valued at fair value as determined in good faith by the Trustees or persons acting on the behalf of the Trustees. Fair value pricing may be used for significant events such as securities whose trading has been suspended, whose price has become stale or for which there is no currently available price at the close of the NYSE. Depending on the source and relative significance of valuation inputs, these instruments may be classified as Level 2 or Level 3 in the fair value hierarchy.

In accordance with procedures adopted by the Trustees, fair value pricing may be used if events materially affecting the value of foreign securities occur between the time when the exchange on which they are traded closes and the time when the Fund’s net asset value is calculated. Management identifies possible fluctuation in international securities by monitoring the increase or decrease in the value of a designated benchmark index. In the event of an increase or decrease greater than predetermined levels, the Fund may use a systematic valuation model provided by an independent third party to fair value its international equity securities which are then typically categorized as Level 2 in the fair value hierarchy.

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

For the period ended June 30, 2022, purchases and sales of long-term U.S. government securities were as follows:

The risks below are presented in an order intended to facilitate readability. Their order does not imply that the realization of one risk is more likely to occur more frequently than another risk, nor does it imply that the realization of one risk is likely to have a greater adverse impact than another risk.

Derivatives Risk: The Fund may invest in derivatives as a principal strategy. A derivative is a financial contract whose value depends on, or is derived from, the value of an underlying asset, reference rate, or risk. Use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Derivatives are subject to a number of other risks, such as liquidity risk, interest rate risk, market risk, credit risk, and selection risk. Derivatives also involve the risk of mispricing or improper valuation and the risk that changes in the value may not correlate perfectly with the underlying asset, rate, or index. Using derivatives may result in losses, possibly in excess of the principal amount invested. Also, suitable derivative transactions may not be available in all circumstances. The counterparty to a derivatives contract could default.

Foreign Securities Risk: Investments in securities of foreign issuers carry certain risks not ordinarily associated with investments in securities of domestic issuers. Such risks include future political and economic developments, and the possible imposition of exchange controls or other foreign governmental laws and restrictions. In addition, with respect to certain countries, there is the possibility of expropriation of assets, confiscatory taxation, political or social instability or diplomatic developments which could adversely affect investments in those securities.

Interest Rate Risk: Debt securities held by the Fund may decline in value due to rising interest rates. The price of a bond is also affected by its maturity. Bonds with longer maturities generally have greater sensitivity to changes in interest rates.

Market Risk: The market price of securities owned by the Fund may go up or down, sometimes rapidly and unpredictably. Securities may decline in value due to factors affecting securities markets generally or particular industries represented in the securities markets. The value of a security may decline due to general market conditions that are not specifically related to a particular company, such as real or perceived adverse economic conditions, changes in the general outlook for corporate earnings, changes in interest or currency rates, or adverse investor sentiment, as well as natural disasters, and outbreaks of infectious illnesses or other widespread public health issues.

The current outbreak of the novel strain of coronavirus, COVID-19, has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain the spread of COVID-19 have resulted in travel restrictions, closed international borders, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, defaults and other significant economic impacts, all of which have disrupted global economic activity across many industries and may exacerbate other preexisting political, social and economic risks, locally or globally. The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Fund’s performance.

The SEC adopted Rule 18f-4 and Rule 2a-5 under the 1940 Act. Rule 18f-4 governs the use of derivatives by registered investment companies, and Rule 2a-5 governs fair value determinations. The Fund, as applicable, will comply with both rules by their compliance dates of August 19, 2022 and September 8, 2022 for Rule 18f-4 and Rule 2a-5, respectively. Management believes these rules will not have a significant impact on the Fund’s operations and will not impact the Fund’s beginning net assets, current period results from operations, or any prior period information presented in the financial statements.

It is the policy of the Fund to continue to qualify as a regulated investment company by complying with the provisions available to certain investment companies, as defined under Subchapter M of the Internal Revenue Code, and to make distributions of net investment income and net realized gains sufficient to relieve it from all, or substantially all, federal income taxes. Accordingly, no provisions for federal income taxes are required in the financial statements.

Management of the Fund has reviewed tax positions taken in tax years that remain subject to examination by all major tax jurisdictions, including federal (i.e., the last four tax year ends and the interim tax period since then, as applicable). Management believes that there is no tax liability resulting from unrecognized tax benefits related to uncertain tax positions taken.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $435,242,727. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

As of the end of its tax year ended December 31, 2021, the Fund had capital loss carry forwards (“CLCFs”) as summarized in the table below. The Board does not intend to authorize a distribution of any realized gain for the Fund until any applicable CLCF has been offset.

During the year ended December 31, 2021, the Fund utilized $1,035,176 in CLCFs to offset capital gains.

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had an individual shareholder account which is affiliated with the Manager representing ownership in excess of 85% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Management of the Fund has evaluated the need for additional disclosures or adjustments resulting from events through the date the financial statements were issued. Based on this evaluation, there were no subsequent events to report that would have material impact on the Fund’s financial statements.

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities is available, without charge, upon request, by visiting the Securities and Exchange Commission’s (‘‘Commission’’) website at www.sec.gov, or by calling 800-624-0197.

Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30th is available (i) without charge, upon request, by calling 800-624-0197; (ii) on the Trust’s website at https://www.allianzlife.com; and (iii) on the Commission’s website at http://www.sec.gov.

The Fund files complete Schedules of Portfolio Holdings with the Commission for the first and third quarters of each fiscal year on Form N-PORT. Schedules of Portfolio Holdings for the Fund are available without charge on the Commission’s website at http://www.sec.gov, or may be obtained by calling 800-624-0197.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

Each series (each such series a “Fund” and, together, the “Funds”) of the Allianz Variable Insurance Products Trust, but not the AZL Government Money Market Fund, and of the Allianz Variable Insurance Products Fund of Funds Trust (each a “Trust”) has adopted and implemented a written liquidity risk management program (the “Program”) pursuant to Rule 22e-4 under the Investment Company Act of 1940 (the “Liquidity Rule”). The Program includes policies and procedures reasonably designed to assess and manage each Fund’s liquidity risk (the “risk that a fund could not meet requests to redeem shares issued by the fund without significant dilution of remaining investors’ interests in the fund”) and to comply with the requirements of the Liquidity Rule, including: (i) assessment, management and periodic review of liquidity risk; (ii) classification of portfolio holdings; (iii) establishment of a highly liquid investment minimum (“HLIM”), as applicable; (iv) limitation of illiquid investments; and (v) redemptions in-kind.

The Board of Trustees of each Fund (together, the “Board”) approved the designation of the individual officers of the Trust who serve as the administrators of the Program (the “Program Administrators”). The Program Administrators oversee the implementation of the Program, including the monitoring of liquidity and liquidity risk for each Fund on an ongoing basis.

At a meeting of the Board held on February 22, 2022, the Program Administrators provided their annual written report (the “Report”) to the Board addressing the operation of the Program and assessing its adequacy and effectiveness of implementation for the annual period from January 1, 2021 through December 31, 2021 (the “Reporting Period”). This Report included an overview of the operation of the Program, including liquidity events relevant to the Funds, if any, during the Reporting Period and conclusions with respect to the adequacy of the policies and procedures of the Program and the effectiveness of Program implementation. The Report also included a summary of the annual assessment of each Fund’s liquidity risk, which took into account the following factors enumerated in the Liquidity Rule and identified in the Program, as applicable:

1) Each Fund’s investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions, including: (i) whether the Fund’s investment strategy is appropriate for an open-end fund; (ii) the extent to which the Fund’s strategy involves a relatively concentrated portfolio or large positions in particular issuers; (iii) the Fund’s use of borrowings for investment purposes; and (iv) the Fund’s use of derivatives;

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

Based on the information considered, the Report concluded that each Fund continues to have an investment strategy that is appropriate for an open-end fund, and that each Fund is reasonably likely to be able to meet redemption requests without significant dilution of remaining shareholders’ interests in the Fund. There were no material liquidity matters impacting the Funds identified in the Report and the Report concluded that the Program operated effectively during the Reporting Period, including during periods of market volatility and net redemptions.

In accordance with the Program, each Fund’s portfolio investments were classified into one of four liquidity categories as provided in the Liquidity Rule as applicable during the Reporting Period. Liquidity classification determinations take into account a variety of factors including market, trading and investment-specific considerations, as well as market depth in accordance with the requirements of the Liquidity Rule and as specified in the Program, and generally incorporate analysis from a third-party data vendor. The Report reviewed the classification methodology as provided in the Program and noted there were no material issues with respect to liquidity classifications during the Reporting Period.

Pursuant to the Liquidity Rule, no Fund may acquire any illiquid investment if, after the acquisition, the Fund would have invested more than 15% of its assets in illiquid investments that are assets. The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments. During the Reporting Period, no Fund breached the 15% limit on illiquid investments.

During the Reporting Period, each Fund maintained a designated HLIM. The Report stated that the Program Administrators reviewed each Fund’s HLIM as provided in the Program and concluded that each Fund’s applicable HLIM operated as intended during the Reporting Period. During the Reporting Period, no Fund fell below its designated HLIM. The Report also noted that the Program Administrators determined that each Fund primarily holds assets which are highly liquid investments and that, therefore, none of the Funds are required to maintain an HLIM pursuant to the Liquidity Rule or the Program. Consequently, the Program Administrators determined to remove the HLIM for all Funds. This determination is subject to review by the Program Administrators at least annually.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

On the basis of the review, the Report concluded that: (i) the Program remains reasonably designed to manage each Fund’s liquidity risk; (ii) the Program was implemented and operated effectively to achieve the goal of assessing and managing each Fund’s liquidity risk during the Reporting Period; and (iii) each Fund was able to meet requests for redemption without significant dilution of remaining investors in the Fund during the Reporting Period. The Report noted that there were no material changes to the Program during the Reporting Period, and none were recommended by the Program Administrators in connection with the Report, other than the removal of the HLIM for each Fund as noted above.

As a shareholder of the AZL DFA International Core Equity Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Shares			Value
Common Stocks (98.7%):
Aerospace & Defense (1.0%):
	3,667	Airbus SE	$	360,003
	512	Avon Rubber plc		6,161
	33,225	BAE Systems plc		335,985
	1,060	Bombardier, Inc.*		15,912
	1,689	CAE, Inc.*		41,628
	3,081	Chemring Group plc		11,835
	350	Dassault Aviation SA		54,630
	116	Elbit Systems, Ltd.		26,608
	89	Facc AG*		635
	386	Hensoldt AG		9,748
	865	Kongsberg Gruppen ASA		31,136
	9,452	Leonardo SpA		95,934
	1,132	LISI		21,684
	19,535	Meggitt plc*		187,601
	392	MTU Aero Engines AG		71,347
	19,005	QinetiQ Group plc		85,145
	72,100	Rolls-Royce Holdings plc*		72,904
	1,467	Saab AB		60,668
	330	Safran SA		33,008
	15,312	Senior plc*		21,574
	17,800	Singapore Technologies Engineering, Ltd.		52,385
	1,841	Thales SA		225,797
	2,146	Ultra Electronics Holdings plc		90,687

				1,913,015

Air Freight & Logistics (0.5%):
	4,417	BPOST SA		26,104
	2,399	Cia de Distribucion Integral Logista Holdings SA		46,922
	6,355	CTT-Correios de Portugal SA^		20,790
	8,562	Deutsche Post AG		320,733
	4,733	Freightways, Ltd.		27,010
	73	ID Logistics Group*		20,246
	37,500	Kerry Network, Ltd.		80,783
	1,800	Kintetsu World Express, Inc.		55,361
	1,800	Konoike Transport Co., Ltd.		16,850
	449	Mainfreight, Ltd.		19,568
	900	Maruwa Unyu Kikan Co., Ltd.		8,889
	1,800	Mitsui-Soko Holdings Co., Ltd.		38,262
	1,146	Oesterreichische Post AG^		32,684
	16,046	PostNL NV		48,962
	26,724	Royal Mail plc		88,335
	900	SBS Holdings, Inc.		18,090
	3,000	SG Holdings Co., Ltd.		50,658
	27,700	Singapore Post, Ltd.		12,973
	5,312	Wincanton plc		22,428
	5,100	Yamato Holdings Co., Ltd.		81,519

				1,037,167

Airlines (0.2%):
	1,500	Air Canada*		18,695
	80,763	Air New Zealand, Ltd.*		28,733
	1,200	ANA Holdings, Inc.*		22,128
	33,347	Cathay Pacific Airways, Ltd.*		36,561
	6,007	Deutsche Lufthansa AG*		35,030
	5,559	easyJet plc*		24,848
	1,128	Exchange Income Corp.		36,934
	2,400	Japan Airlines Co., Ltd.*		42,054


Shares			Value
Common Stocks, continued
Airlines, continued
	2,549	JET2 plc*	$	28,136
	12,200	Singapore Airlines, Ltd.*		44,859

				317,978

Auto Components (1.8%):
	1,000	Aisan Industry Co., Ltd.		5,261
	3,500	Aisin Sieki Co., Ltd.		108,457
	7,300	Akebono Brake Industry Co., Ltd.*		8,345
	1,027	Akwel		17,251
	1,388	Arb Corp., Ltd.		26,978
	202	Autoneum Holding AG		19,162
	3,367	Brembo SpA		32,876
	5,800	Bridgestone Corp.		211,772
	1,647	Bulten AB		10,318
	1,998	Cie Automotive SA		49,640
	16,348	Cie Generale des Etablissements Michelin SCA		449,460
	12,732	CIR SpA-Compagnie Industriali*		5,378
	2,222	Continental AG		154,822
	2,800	Daido Metal Co., Ltd.		10,740
	2,400	Daikyonishikawa Corp.		9,224
	1,300	Denso Corp.		69,160
	8,224	Dometic Group AB(a)		48,337
	1,800	Eagle Industry Co., Ltd.		13,010
	673	Edag Engineering Group AG		8,260
	1,724	ElringKlinger AG		13,007
	1,500	Exco Technologies, Ltd.		9,312
	1,700	Exedy Corp.		21,578
	4,682	Faurecia SA		94,605
	627	Faurecia SE		12,505
	2,300	FCC Co., Ltd.		22,868
	1,000	F-Tech, Inc.		3,882
	4,000	Futaba Industrial Co., Ltd.		11,331
	1,400	G-Tekt Corp.		13,157
	6,206	Gud Holdings, Ltd.		34,249
	1,600	Hi-Lex Corp.		13,299
	700	H-One Co., Ltd.		3,077
	300	Imasen Electric Industrial		1,294
	19,355	Johnson Electric Holdings, Ltd.		25,186
	6,700	JTEKT Corp.		50,429
	1,800	Kasai Kogyo Co., Ltd.*		3,506
	258	Kendrion NV		4,250
	900	Koito Manufacturing Co., Ltd.		28,595
	25,060	Kongsberg Automotive ASA*		6,107
	1,000	KYB Corp.		22,833
	1,544	Leoni AG*^		11,096
	1,933	Linamar Corp.		81,916
	3,438	Magna International, Inc.		188,746
	3,413	Magna Internationl, Inc.		187,437
	4,266	Martinrea International, Inc.		27,545
	2,000	Mitsuba Corp.		5,903
	2,500	Musashi Seimitsu Industry Co., Ltd.		25,662
	4,800	NGK Spark Plug Co., Ltd.		87,221
	6,600	NHK SPRING Co., Ltd.		43,491
	600	Nichirin Co., Ltd.		6,768
	2,300	Nifco, Inc.		53,719
	2,200	Nippon Seiki Co., Ltd.		13,963
	2,700	NOK Corp.		21,995
	4,876	Nokian Renkaat OYJ		53,373


Shares			Value
Common Stocks, continued
Auto Components, continued
	2,600	Pacific Industrial Co., Ltd.	$	20,124
	13,329	Pirelli & C SpA(a)		54,503
	1,743	Plastic Omnium SA		30,226
	6,300	Press Kogyo Co., Ltd.		18,544
	3,582	PWR Holdings, Ltd.		15,636
	400	Riken Corp.		6,903
	2,542	SAF-Holland SE		16,831
	1,900	Sanoh Industrial Co., Ltd.		9,168
	2,535	Schaeffler AG		14,345
	700	Shoei Co., Ltd.		27,428
	3,000	Stanley Electric Co., Ltd.		49,333
	11,700	Sumitomo Electric Industries, Ltd.		129,415
	2,900	Sumitomo Riko Co., Ltd.		12,601
	7,700	Sumitomo Rubber Industries, Ltd.		65,841
	300	T RAD Co., Ltd.		5,796
	1,400	Tachi-S Co., Ltd.		11,309
	800	Taiho Kogyo Co., Ltd.		3,928
	8,119	TI Fluid Systems plc(a)		14,934
	2,500	Tokai Rika Co., Ltd.		27,301
	2,500	Topre Corp.		18,351
	4,500	Toyo Tire Corp.		56,251
	1,700	Toyoda Gosei Co., Ltd.		26,875
	2,900	Toyota Boshoku Corp.		43,121
	700	Toyota Industries Corp.		43,396
	1,500	TPR Co., Ltd.		13,300
	2,800	TS Tech Co., Ltd.		29,059
	2,000	Unipres Corp.		11,820
	6,199	Valeo SA		121,315
	384	Vitesco Technologies Group AG*		14,848
	5,200	Yokohama Rubber Co., Ltd. (The)		70,143
	600	Yorozu Corp.		3,922

				3,448,923

Automobiles (1.9%):
	3,944	Bayerische Motoren Werke AG (BMW)		303,594
	12,614	Daimler AG, Registered Shares		729,867
	730	Ferrari NV		133,940
	630	Honda Motor Co., Ltd., ADR		15,215
	11,100	Honda Motor Co., Ltd.		268,544
	11,100	Isuzu Motors, Ltd.		122,399
	9,700	Mazda Motor Corp.		79,445
	8,800	Mitsubishi Motors Corp.*		29,806
	20,000	Nissan Motor Co., Ltd.		77,966
	2,700	Nissan Shatai Co., Ltd.		11,433
	8,981	Piaggio & C SpA		21,103
	4,600	Renault SA*		116,399
	40,724	Stellantis NV		510,013
	538	Stellantis NV		6,699
	9,200	Subaru Corp.		163,690
	2,300	Suzuki Motor Corp.		72,374
	57,920	Toyota Motor Corp.		892,140
	504	Volkswagen AG		91,838
	7,200	Yamaha Motor Co., Ltd.		132,057

				3,778,522

Banks (8.2%):
	3,000	77th Bank		40,158
	6,309	ABN AMRO Group NV(a)		70,920


Shares			Value
Common Stocks, continued
Banks, continued
	15,084	AIB Group plc	$	34,398
	500	Aichi Bank, Ltd. (The)		19,502
	1,500	Akita Bank, Ltd. (The)		18,318
	2,146	Aktia Bank OYJ		20,555
	3,300	Aozora Bank, Ltd.		64,173
	15,471	Australia & New Zealand Banking Group, Ltd.		235,339
	1,000	Awa Bank, Ltd. (The)		14,904
	19,504	Banca Monte dei Paschi di Siena SpA*		11,064
	21,166	Banca Popolare di Sondrio SCPA		73,383
	20,370	Banco Bilbao Vizcaya Argentaria SA		92,440
	29,969	Banco Bilbao Vizcaya Argentaria SA, ADR		135,460
	44,790	Banco Bpm SpA		128,493
	106,975	Banco Comercial Portugues SA, Class R		18,690
	238,968	Banco de Sabadell SA		192,835
	6,287	Banco Santander SA, ADR		17,604
	107,881	Banco Santander SA		304,176
	8,101	Bank Hapoalim BM		68,134
	16,026	Bank Leumi Le-Israel BM		143,519
	37,836	Bank of East Asia, Ltd. (The)		53,579
	974	Bank of Georgia Group plc		15,482
	29,096	Bank of Ireland Group plc		183,914
	900	Bank of Iwate, Ltd. (The)		13,327
	1,200	Bank of Kyoto, Ltd. (The)		51,158
	1,756	Bank of Montreal		168,887
	6,126	Bank of Montreal		589,137
	500	Bank of Nagoya, Ltd. (The)		11,486
	9,618	Bank of Nova Scotia		569,482
	16,987	Bank of Queensland, Ltd.		78,228
	2,000	Bank of The Ryukyus, Ltd.		11,638
	16,597	Bankinter SA		103,632
	71	Banque Cantonale de Geneve		12,868
	916	Banque Cantonale Vaudois, Registered Shares		71,916
	23,543	Barclays plc, ADR		178,927
	15,237	Barclays plc		28,521
	943	BAWAG Group AG(a)		39,742
	13,509	Bendigo & Adelaide Bank, Ltd.		84,526
	218	Berner Kantonalbank AG		49,340
	6,853	BNP Paribas SA		326,245
	27,542	BOC Hong Kong Holdings, Ltd.		109,013
	34,804	BPER Banca		57,253
	65,100	CaixaBank SA		226,512
	6,788	Canadian Imperial Bank of Commerce^		329,490
	228	Canadian Imperial Bank of Commerce		11,074
	4,227	Canadian Western Bank		85,492
	5,000	Chiba Bank, Ltd. (The)		27,338
	6,200	Chugoku Bank, Ltd. (The)		44,920
	700	Chukyo Bank, Ltd. (The)		8,714
	31,551	Commerzbank AG*		221,031
	7,457	Commonwealth Bank of Australia		465,378
	12,500	Concordia Financial Group, Ltd.		43,325
	7,042	Credit Agricole SA		64,499
	5,165	Credito Emiliano SpA		28,440
	16,000	Dah Sing Banking Group, Ltd.		12,967
	5,600	Dah Sing Financial Holdings, Ltd.		15,983
	1,900	Daishi Hokuetsu Financial Group, Inc.		35,142
	9,027	Danske Bank A/S		127,961
	8,992	DBS Group Holdings, Ltd.		192,510


Shares			Value
Common Stocks, continued
Banks, continued
	5,245	DNB Bank ASA	$	94,437
	1,600	Ehime Bank, Ltd. (The)		10,607
	2,450	Erste Group Bank AG		62,225
	650	Fidea Holdings Co., Ltd.		6,164
	4,911	Finecobank Banca Fineco SpA		59,192
	3,600	First Bank of Toyama, Ltd. (The)		10,990
	1,247	First International Bank of Israel		46,712
	1,000	Fukui Bank, Ltd. (The)		9,941
	4,900	Fukuoka Financial Group, Inc.		88,306
	13,200	Gunma Bank, Ltd. (The)		37,268
	9,200	Hachijuni Bank, Ltd. (The)		33,924
	3,905	Hang Seng Bank, Ltd.		68,997
	21,103	Heartland Group Holdings Npv		25,029
	11,800	Hirogin Holdings, Inc.		54,994
	1,000	Hokkoku Financial Holdings, Inc.		34,063
	6,000	Hokuhoku Financial Group, Inc.		37,057
	23,429	HSBC Holdings plc, ADR^		765,425
	9,400	Hyakugo Bank, Ltd. (The)		22,740
	1,000	Hyakujushi Bank, Ltd. (The)		12,484
	757	Illimity Bank SpA*		8,285
	17,920	ING Groep NV		177,822
	93,838	Intesa Sanpaolo SpA		176,408
	20,697	Isreal Discount Bank		108,440
	9,500	Iyo Bank, Ltd. (The)		46,660
	620	Jimoto Holdings, Inc.		2,579
	1,200	Juroku Financial Group, Inc.		20,708
	2,048	Jyske Bank A/S*		100,315
	2,269	KBC Group NV		127,441
	5,800	Keiyo Bank, Ltd. (The)		20,405
	400	Kita-Nippon Bank, Ltd. (The)		4,716
	2,500	Kiyo Bank, Ltd. (The)		24,578
	16,490	Kyushu Financial Group, Inc.		47,191
	1,296	Laurentian Bank of Canada		38,950
	562	Liechtensteinische Landesbank AG		30,921
	35,782	Lloyds Banking Group plc		18,454
	111,585	Lloyds TSB Group plc, ADR		227,633
	113	Luzerner Kantonalbank AG		49,139
	24,670	Mebuki Financial Group, Inc.		48,563
	11,475	Mediobanca SpA		99,877
	62,500	Mitsubishi UFJ Financial Group, Inc.		334,455
	800	Miyazaki Bank, Ltd. (The)		12,342
	2,075	Mizrahi Tefahot Bank, Ltd.		69,092
	12,880	Mizuho Financial Group, Inc.		146,483
	1,300	Musashino Bank, Ltd. (The)		17,101
	1,300	Nanto Bank, Ltd. (The)		19,080
	24,789	National Australia Bank, Ltd.		468,707
	5,532	National Bank of Canada^		363,083
	35,183	Natwest Group plc		93,577
	4,800	Nishi-Nippon Holdings, Inc.		26,555
	19,269	Nordea Bank AB		169,788
	7,300	North Pacific Bank, Ltd.		12,005
	1,800	Ogaki Kyoritsu Bank, Ltd. (The)		22,841
	1,000	Oita Bank, Ltd. (The)		13,771
	820	Okinawa Financial Group, Inc.		13,287
	17,046	Oversea-Chinese Banking Corp., Ltd.		139,998
	1,522	Procrea Holdings, Inc.*		21,816
	28,000	Public Financial Holdings, Ltd.		8,784


Shares			Value
Common Stocks, continued
Banks, continued
	6,482	Raiffeisen International Bank-Holding AG	$	70,366
	24,175	Resona Holdings, Inc.		90,582
	1,156	Ringkjoebing Landbobank A/S		126,171
	11,418	Royal Bank of Canada		1,105,491
	3,753	Royal Bank of Canada		363,461
	1,190	San Ju San Financial Group, Inc.		12,231
	6,200	San-In Godo Bank, Ltd. (The)		29,905
	11,600	Senshu Ikeda Holdings, Inc.		17,083
	24,500	Seven Bank, Ltd.		46,780
	1,300	Shiga Bank, Ltd. (The)		26,509
	1,000	Shikoku Bank, Ltd. (The)		6,223
	400	Shimizu Bank, Ltd. (The)		4,327
	5,900	Shizuoka Bank, Ltd. (The)		35,455
	7,610	Skandinaviska Enskilda Banken AB, Class A		74,817
	9,761	Societe Generale		214,043
	3,426	Spar Nord Bank A/S		36,308
	2,847	Sparebank 1 Sr-Bank ASA		30,941
	121	St. Galler Kantonalbank AG		55,661
	36,263	Standard Chartered plc		273,370
	7,000	Sumitomo Mitsui Financial Group, Inc.		207,924
	3,300	Sumitomo Mitsui Trust Holdings, Inc.		101,689
	8,000	Suruga Bank, Ltd.		21,674
	8,201	Svenska Handelsbanken AB, Class A		70,184
	4,382	Swedbank AB, Class A		55,471
	2,561	Sydbank A/S		78,604
	6,500	Toho Bank, Ltd. (The)		9,969
	1,100	Tokyo Kiraboshi Financial Group, Inc.		18,347
	7,500	Tomony Holdings, Inc.		17,259
	7,456	Toronto-Dominion Bank (The)		488,964
	1,900	Toronto-Dominion Bank (The)		124,615
	2,100	Towa Bank, Ltd. (The)		7,975
	6,200	Tsukuba Bank, Ltd.		8,825
	48,238	Unicaja Banco SA(a)		47,659
	13,288	Unicredit SpA		127,400
	7,627	United Overseas Bank, Ltd.		144,426
	405	Valiant Holding AG		35,623
	764	Van Lanschot Kempen NV		17,821
	34,734	Virgin Money UK plc		55,322
	239	Walliser Kantonalbank		27,666
	18,223	Westpac Banking Corp.		245,362
	1,600	Yamagata Bank, Ltd. (The)		10,607
	7,200	Yamaguchi Financial Group, Inc.		39,499
	1,800	Yamanashi Chuo Bank, Ltd. (The)		15,078
	6	Zuger Kantonalbank AG		45,017

				15,908,251

Beverages (1.1%):
	1,900	Andrew Peller, Ltd.		8,636
	6,745	Anheuser-Busch InBev NV		363,791
	2,000	Asahi Breweries, Ltd.		65,567
	10,973	Britvic plc		108,402
	13,700	Budweiser Brewing Co. APAC, Ltd.(a)		41,092
	14,772	C&C Group plc*		33,138
	1,234	Carlsberg A/S, Class B		157,435
	2,200	Coca-Cola Bottlers Japan Holdings, Inc.		26,291
	2,675	Coca-Cola European Partners plc		137,294
	2,705	Coca-Cola HBC AG		60,052
	3,646	David Campari-Milano NV		38,491


Shares			Value
Common Stocks, continued
Beverages, continued
	2,283	Diageo plc, ADR	$	397,516
	812	Fevertree Drinks plc		12,151
	1,423	Heineken NV		130,302
	700	ITO EN, Ltd.		31,347
	2,300	Kirin Holdings Co., Ltd.		36,254
	109	Laurent-Perrier		11,124
	653	Olvi OYJ		22,134
	412	Pernod Ricard SA		76,306
	4,250	Primo Water Corp.		56,766
	194	Remy Cointreau SA		34,160
	1,456	Royal Unibrew A/S		129,784
	1,600	Sapporo Breweries, Ltd.		35,512
	700	Suntory Beverage & Food, Ltd.		26,482
	4,200	Takara Holdings, Inc.		31,136
	6,474	Treasury Wine Estates, Ltd.		50,676

				2,121,839

Biotechnology (0.4%):
	143	Argenx SE*		53,963
	1,271	Bavarian Nordic A/S*		42,233
	1,455	BioGaia AB		14,725
	1,830	CSL, Ltd.		339,954
	765	Galapagos NV*		42,654
	573	Genmab A/S*		185,895
	402	Genus plc		12,280
	2,347	Grifols SA*		44,388
	5,747	Knight Therapeutics, Inc.*		23,845
	6,442	Mesoblast, Ltd.*^		2,713
	1,700	Peptidream, Inc.*		17,844
	1,829	Swedish Orphan Biovitrum AB*		39,606
	1,100	Takara Bio, Inc.		15,612
	1,155	Zealand Pharma A/S*		15,153

				850,865

Building Products (1.1%):
	4,400	AGC, Inc.		154,841
	1,100	AICA Kogyo Co., Ltd.		22,981
	2,028	Arbonia AG		27,134
	1,761	ASSA Abloy AB, Class B		37,706
	173	Belimo Holding AG, Class R		60,969
	2,400	Bunka Shutter Co., Ltd.		17,665
	1,800	Central Glass Co., Ltd.		40,952
	6,649	Cie de Saint-Gobain		288,781
	1,000	Daikin Industries, Ltd.		160,519
	114	dorma kaba Holding AG		49,784
	9,425	Fletcher Building, Ltd.		29,651
	451	Geberit AG, Registered Shares		216,954
	5,784	Genuit Group plc		27,103
	12,753	Gwa Group, Ltd.		17,286
	3,298	Inrom Construction Industries, Ltd.		14,541
	2,938	Inwido AB		32,427
	2,153	Kingspan Group plc		129,505
	2,801	Lindab International AB		40,669
	4,900	Lixil Corp.		91,843
	2,012	Nibe Industrier AB, Class B		15,134
	2,700	Nichias Corp.		44,935
	1,100	Nichiha Corp.		21,424
	1,552	Nordic Waterproofing Holding AB		21,304


Shares			Value
Common Stocks, continued
Building Products, continued
	1,500	Noritz Corp.	$	16,011
	1,400	Okabe Co., Ltd.		6,279
	8,716	Reliance Worldwide Corp., Ltd.		24,325
	232	ROCKWOOL A/S, Class B		52,460
	144	Rockwool International A/S		32,497
	1,900	Sankyo Tateyama, Inc.		7,708
	6,100	Sanwa Holdings Corp.		58,509
	47	Schweiter Technologies AG		44,640
	900	Shin Nippon Air Technologies Co., Ltd.		12,214
	1,800	Sinko Industries, Ltd.		21,693
	3,824	Systemair AB*		18,642
	1,800	Takara Standard Co., Ltd.		16,592
	1,000	TOTO, Ltd.		33,061
	7,093	Tyman plc		20,600
	2,971	Uponor OYJ		41,044
	40,000	Xinyi Glass Holdings, Ltd.		96,280
	533	Zehnder Group AG		31,740

				2,098,403

Capital Markets (2.6%):
	12,253	3i Group plc		165,505
	24,792	ABG Sundal Collier Holding ASA		14,853
	3,200	AGF Management, Ltd.		15,938
	1,600	Aizawa Securities Co., Ltd.		8,486
	2,242	AJ Bell plc		7,330
	143	Alantra Partners SA		2,008
	903	Altamir		23,252
	817	Amundi SA(a)		45,219
	7,128	Anima Holding SpA(a)		26,291
	5,351	Ashmore Group plc		14,452
	670	ASX, Ltd.		37,805
	1,222	Avanza Bank Holding AB		20,542
	4,260	Azimut Holding SpA		74,530
	600	Banca Generali SpA		17,060
	521	Bellevue Group AG		17,658
	8,900	Brewin Dolphin Holdings plc		55,448
	800	Brookfield Asset Management, Inc., Class A		35,593
	614	Brookfield Asset Management, Inc., Class A		27,305
	2,383	Bure Equity AB		47,646
	2,497	Canaccord Genuity Group, Inc.		16,356
	7,682	CI Financial Corp.		81,595
	119	Cie Financiere Tradition SA		13,102
	5,230	Close Brothers Group plc		65,272
	5,668	CMC Markets PLC(a)		18,914
	4,319	Credit Suisse Group AG, ADR		24,489
	20,849	Credit Suisse Group AG		118,733
	18,300	Daiwa Securities Group, Inc.		81,785
	4,462	Dea Capital SpA		5,184
	12,602	Deutsche Bank AG		109,792
	10,467	Deutsche Bank AG, Registered Shares		91,482
	552	Deutsche Beteiligungs AG		14,635
	692	Deutsche Boerse AG		115,723
	329	DWS Group GmbH Co. KGaA(a)		8,606
	5,622	EFG International AG		41,379
	258,000	Emperor Capital Group, Ltd.*		1,842
	1,726	Euronext NV(a)		141,397
	2,000	Fiera Capital Corp.		14,452
	1,407	Flow Traders(a)		40,270


Shares			Value
Common Stocks, continued
Capital Markets, continued
	10,649	GAM Holding AG*	$	8,817
	2,674	Georgia Capital plc*		19,733
	824	Gimv NV		45,518
	2,400	GMO Financial Holdings, Inc.^		13,752
	1,175	Guardian Capital Group, Ltd., Class A		27,663
	142,000	Guotai Junan International Hol		16,995
	148,767	Haitong International Securities		21,248
	4,181	Hargreaves Lansdown plc		40,132
	6,594	Hong Kong Exchanges & Clearing, Ltd.		329,169
	2,100	iFAST Corp., Ltd.		6,268
	8,570	IG Group Holdings plc		72,339
	1,732	IGM Financial, Inc.		46,429
	647	Impax Asset Management Group plc		4,773
	21,365	Insignia Financial, Ltd.		39,690
	2,872	IntegraFin Holdings plc		7,858
	5,770	Intermediate Capital Group plc		92,063
	22,533	Investec plc		123,092
	60,525	IP Group plc		51,593
	1,700	IwaiCosmo Holdings, Inc.		15,733
	3,400	JAFCO Group Co., Ltd.		41,045
	4,800	Japan Exchange Group, Inc.		69,333
	4,910	Julius Baer Group, Ltd.		226,878
	17,082	Jupiter Fund Management plc		30,826
	138,000	Kingston Financial Group, Ltd.*		4,141
	800	Kyokuto Securities Co., Ltd.		4,071
	957	London Stock Exchange Group plc		88,947
	500	M&A Capital Partners Co., Ltd.*		13,156
	1,241	Macquarie Group, Ltd.		141,013
	2,194	Magellan Financial Group, Ltd.		19,581
	50,276	Man Group plc/Jersey		153,011
	2,300	Marusan Securities Co., Ltd.		8,285
	1,180,000	Mason Group Holdings, Ltd.*		3,473
	2,600	Matsui Securities Co., Ltd.		15,432
	2,900	Mito Securities Co., Ltd.		5,561
	3,035	MLP SE		18,190
	5,700	Monex Group, Inc.		17,763
	4,905	Navigator Global Investments, Ltd.		4,213
	3,008	Netwealth Group, Ltd.		25,222
	14,364	Ninety One plc		34,578
	19,100	Nomura Holdings, Inc.		69,870
	931	Nordnet AB Publ		12,189
	15,528	NZX, Ltd.		11,922
	3,800	Okasan Securities Group, Inc.		9,474
	253	Partners Group Holding AG		228,269
	9,039	Pendal Group, Ltd.		27,594
	1,616	Perpetual, Ltd.		32,228
	11,593	Platinum Asset Management, Ltd.		13,929
	2,595	Polar Capital Holdings plc		16,117
	38,911	Quilter PLC(a)		49,003
	1,470	Rathbones Group plc		34,753
	9,785	Ratos AB, Class B		41,694
	1,549	Rothschild & Co.		52,376
	4,200	SBI Holdings, Inc.		82,264
	1,783	Schroders plc		58,047
	1,029	Schroders plc		28,216
	8,200	Singapore Exchange, Ltd.		55,911
	4,200	Sparx Group Co., Ltd.		8,210


Shares			Value
Common Stocks, continued
Capital Markets, continued
	5,446	St. James Place plc	$	73,181
	700	Strike Co., Ltd.		17,564
	388	Swissquote Group Holding SA		39,444
	2,584	Tamburi Investment Partners SP		19,872
	375	Tikehau Capital SCA		7,618
	531	TMX Group, Ltd.		54,049
	8,500	Tokai Tokyo Financial Holdings, Inc.		23,193
	4,000	Toyo Securities Co., Ltd.		5,757
	30,858	TP ICAP Group plc		42,197
	15,471	UBS Group AG		249,774
	20,430	Uob-Kay Hian Holdings, Ltd.		21,185
	1,000	Uzabase, Inc.*		5,775
	22,000	Value Partners Group, Ltd.		8,317
	1,052	Vontobel Holding AG		73,968
	245	Vp Bank AG, Registered Shares		23,099
	550	VZ Holding AG		39,877
	29,400	Yangzijiang Financial Holding, Ltd.*		8,678

				5,115,127

Chemicals (3.9%):
	900	Achilles Corp.		8,913
	3,300	Adeka Corp.		57,052
	1,775	Air Liquide SA		239,878
	7,800	Air Water, Inc.		98,053
	2,028	Akzo Nobel NV		133,968
	700	Arakawa Chemical Industries, Ltd.		5,116
	2,608	Arkema SA		235,005
	26,600	Asahi Kasei Corp.		203,310
	1,100	ASAHI YUKIZAI Corp.		16,216
	9,846	BASF SE		428,399
	1,939	Borregaard ASA		31,709
	52,400	China Sunsine Chemical Holdings, Ltd.		16,623
	1,971	Christian Hansen Holding A/S		143,822
	1,600	CI Takiron Corp.		6,361
	8,231	Clariant AG*		156,963
	1,435	Corbion NV		43,605
	6,863	Covestro AG(a)		237,161
	752	Croda International plc		59,293
	1,000	Dai Nippon Toryo Co., Ltd.		5,229
	7,200	Daicel Corp.		44,564
	900	Dainichiseika Color & Chemical		11,568
	2,800	Dainippon Ink & Chemicals, Inc.		49,677
	3,100	Denka Co., Ltd.		75,120
	18,377	Elementis plc*		22,134
	2,854	Elkem ASA(a)		9,148
	58	EMS-Chemie Holding AG		43,216
	8,516	Ercros SA		33,571
	9,485	Essentra plc		28,689
	3,851	Evonik Industries AG		82,209
	2,023	FUCHS PETROLUB SE		56,384
	701	FUCHS PETROLUB SE		17,124
	300	Fujimori Kogyo Co., Ltd.		7,690
	700	Fuso Chemical Co., Ltd.		18,337
	77	Givaudan SA, Registered Shares		272,177
	200	Gurit Holding AG		21,405
	6,252	Hexpol AB		53,291
	700	Hodogaya Chemical Co., Ltd.		17,042
	3,950	ICL Group, Ltd.		36,098


Shares			Value
Common Stocks, continued
Chemicals, continued
	28,614	Incitec Pivot, Ltd.	$	65,813
	1,500	Ishihara Sangyo Kaisha, Ltd.		11,069
	1,000	JCU Corp.		24,971
	3,467	Johnson Matthey plc		81,351
	700	Jsp Corp.		7,201
	1,200	JSR Corp.		31,171
	5,723	K+S AG, Registered Shares		139,126
	2,000	Kaneka Corp.		49,281
	1,300	Kansai Paint Co., Ltd.		16,596
	3,300	Kanto Denka Kogyo Co., Ltd.		21,502
	4,999	Kemira OYJ		61,119
	1,400	Kh Neochem Co., Ltd.		25,694
	1,500	Koatsu Gas Kogyo Co., Ltd.		7,303
	1,120	Koninklijke DSM NV		161,770
	1,000	Konishi Co., Ltd.		11,348
	11,800	Kuraray Co., Ltd.		95,309
	600	Kureha Corp.		42,159
	3,226	Lanxess AG		115,536
	379	Lenzing AG		30,703
	1,300	Lintec Corp.		22,045
	929	Methanex Corp.		35,516
	700	Methanex Corp.		26,744
	28,100	Mitsubishi Chemical Holdings Corp.		152,369
	3,000	Mitsubishi Gas Chemical Co., Inc.		43,274
	5,700	Mitsui Chemicals, Inc.		121,547
	12,400	Nanofilm Technologies International, Ltd.		20,825
	800	Nihon Kagaku Sangyo Co., Ltd.		6,028
	2,300	Nihon Nohyaku Co., Ltd.		11,775
	2,600	Nihon Parkerizing Co., Ltd.		17,090
	600	Nippon Chemical Industrial Co., Ltd.		8,531
	5,500	Nippon Kayaku Co., Ltd.		44,347
	2,100	Nippon Paint Holdings Co., Ltd.		15,671
	1,400	Nippon Pillar Packing Co., Ltd.		28,060
	3,000	Nippon Sanso Holdings Corp.		47,871
	700	Nippon Shokubai Co., Ltd.		27,107
	800	Nippon Soda Co., Ltd.		25,755
	1,500	Nissan Chemical Corp.		69,192
	1,900	Nitto Denko Corp.		123,090
	1,000	NOF Corp.		37,114
	1,377	Novozymes A/S, Class B		82,933
	8,438	Nufarm, Ltd.		29,616
	3,137	Nutrien, Ltd.^		249,988
	1,935	Nutrien, Ltd.		154,123
	1,928	OCI NV		63,566
	500	Okamoto Industries, Inc.		14,031
	600	Okura Industrial Co., Ltd.		7,519
	4,527	Orica, Ltd.		49,176
	900	Osaka Organic Chemical Industry, Ltd.		14,693
	2,613	Recticel SA		39,013
	2,800	Riken Technos Corp.		8,881
	500	Sakai Chemical Industry Co., Ltd.		6,963
	2,400	Sakata Inx Corp.		16,180
	700	Sanyo Chemical Industries, Ltd.		24,550
	900	Sekisui Plastics Co., Ltd.		2,708
	1,100	Shikoku Chemicals Corp.		10,070
	2,000	Shin-Etsu Chemical Co., Ltd.		225,812
	1,800	Shin-Etsu Polymer Co., Ltd.		15,686


Shares			Value
Common Stocks, continued
Chemicals, continued
	5,600	Showa Denko K.K.	$	95,293
	733	Sika AG		169,126
	1,754	SOL SpA		30,288
	1,994	Solvay SA		161,749
	400	Stella Chemifa Corp.		7,041
	900	Sumitomo Bakelite Co., Ltd.		26,999
	30,600	Sumitomo Chemical Co., Ltd.		119,473
	300	Sumitomo Seika Chemicals Co. Ltd.		6,389
	514	Symrise AG		55,930
	13,110	Synthomer plc		35,929
	700	T Hasegawa Co., Ltd.		14,248
	1,200	T&K Toka Co., Ltd.		7,151
	600	Taiyo Holdings Co., Ltd.		12,604
	600	Takasago International Corp.		10,771
	600	Tayca Corp.		5,332
	7,900	Teijin, Ltd.		82,330
	500	Tenma Corp.		8,482
	625	Tessenderlo Group SA*		19,774
	4,900	Toagosei Co., Ltd.		36,475
	6,900	Tokai Carbon Co., Ltd.		52,654
	2,900	Tokuyama Corp.		36,926
	600	Tokyo Ohka Kogyo Co., Ltd.		29,399
	21,000	Toray Industries, Inc.		117,919
	5,100	Tosoh Corp.		63,394
	1,200	Toyo Ink SC Holdings Co., Ltd.		16,833
	3,400	Toyobo Co., Ltd.		25,130
	4,800	Ube Industries, Ltd.		71,408
	3,116	Umicore SA		108,904
	1,051	Victrex plc		22,764
	329	Wacker Chemie AG		47,470
	1,428	Yara International ASA		59,955
	2,900	Zeon Corp.		28,116

				7,510,857

Commercial Services & Supplies (1.3%):
	800	AEON Delight Co., Ltd.		17,506
	23,247	Babcock International Group plc*		87,747
	581	Befesa SA(a)		28,247
	13,069	Biffa plc(a)		59,661
	896	Bilfinger SE		26,290
	1,670	Black Diamond Group, Ltd.		4,827
	14,490	Brambles, Ltd.		107,012
	3,076	Bravida Holding AB(a)		26,808
	200	Calian Group, Ltd.		9,800
	2,850	Caverion Corp.		13,190
	300	Central Security Patrols Co., Ltd.		5,998
	338	Cewe Stiftung & Co. KGAA		28,501
	46,000	Cleanaway Waste Management, Ltd.		80,048
	10,948	Collection House, Ltd.*		515
	1,829	Coor Service Management Holding AB(a)		14,362
	2,400	CTS Co., Ltd.		14,143
	3,200	Dai Nippon Printing Co., Ltd.		69,068
	6,041	De La Rue plc*		5,751
	3,731	Derichebourg SA		21,790
	2,180	Dexterra Group, Inc.		9,367
	25,208	Downer EDI, Ltd.		87,907
	1,100	Duskin Co., Ltd.		23,456
	7,850	Elis SA		105,705


Shares			Value
Common Stocks, continued
Commercial Services & Supplies, continued
	300	GDI Integrated Facility Services, Inc.*	$	10,643
	435	GL Events*		7,078
	12,057	HomeServe plc		171,956
	900	Inaba Seisakusho Co., Ltd.		9,218
	2,297	Intrum AB		43,881
	5,989	ISS A/S*		95,165
	1,800	Itoki Corp.		4,846
	1,900	Japan Elevator Service Holdings Co., Ltd.		19,803
	3,300	Kokuyo Co., Ltd.		41,817
	400	Kyodo Printing Co., Ltd.		7,329
	2,302	Lassila & Tikanoja OYJ		25,902
	3,325	Loomis AB		81,331
	700	Matsuda Sangyo Co., Ltd.		10,386
	5,449	Mears Group plc		12,579
	51,653	Mitie Group plc		35,248
	1,400	NAC Co., Ltd.		10,101
	15,900	Nippon Parking Development Co., Ltd.		19,979
	1,600	Okamura Corp.		14,306
	1,100	Oyo Corp.		13,451
	2,700	Park24 Co., Ltd.*		37,391
	2,696	PayPoint plc		18,423
	1,100	Pilot Corp.		39,232
	2,400	Prestige International, Inc.		11,971
	13,654	Prosegur Cia de Seguridad SA		24,100
	1,158	Renewi plc*		10,190
	20,405	Rentokil Initial plc		117,917
	2,500	Ritchie Bros Auctioneers, Inc.		162,685
	3,299	RPS Group plc		4,154
	900	Sato Holdings Corp.		12,390
	700	Secom Co., Ltd.		43,277
	7,978	Securitas AB, Class B		69,303
	14,890	Serco Group plc		31,584
	3,267	Smartgroup Corp., Ltd.		13,816
	787	Societe BIC SA		43,155
	1,400	Sohgo Security Services Co., Ltd.		38,932
	4,477	Spie SA		97,892
	700	Studio Alice Co., Ltd.		12,274
	1,392	TOMRA Systems ASA		25,936
	3,280	TOPPAN, INC.		54,847
	1,612	TRE Holdings Corp.		22,391
	200	Waste Connections, Inc.		24,802
	580	Waste Connections, Inc.		71,897

				2,471,277

Communications Equipment (0.3%):
	2,792	Adva Optical Networking SE*		38,098
	700	Aiphone Co., Ltd.		8,915
	700	DKK Co., Ltd.		12,024
	737	HMS Networks AB		31,492
	500	Icom, Inc.		8,991
	13,669	Nokia Oyj, ADR		63,014
	28,303	Nokia OYJ		131,822
	10,200	Quarterhill, Inc.		14,741
	418	RTX A/S*		8,135
	600	Sierra Wireless, Inc.*		14,056
	10,363	Spirent Communications plc		31,359
	684	Telefonaktiebolaget LM Ericsson, Class A		5,572


Shares			Value
Common Stocks, continued
Communications Equipment, continued
	28,485	Telefonaktiebolaget LM Ericsson, Class B	$	212,718
	5,700	VTech Holdings, Ltd.		45,135

				626,072

Construction & Engineering (2.0%):
	733	Ackermans & Van Haaren NV		109,509
	4,970	ACS Actividades de Construccion y Servicios SA		120,556
	3,353	Aecon Group, Inc.		34,207
	1,375	AF Gruppen ASA		22,043
	2,520	Arcadis NV		85,339
	300	Asanuma Corp.		11,857
	1,130	Ashtrom Group, Ltd.		25,000
	1,410	Badger Infrastructure Solutions, Ltd.		30,939
	20,372	Balfour Beatty plc		63,059
	519	Bauer AG*		4,919
	1,400	Bird Construction, Inc.		8,126
	1,831	Boskalis Westminster		61,415
	16,800	Boustead Singapore, Ltd.		11,554
	7,647	Bouygues SA		236,459
	209	Burkhalter Holding AG		16,472
	4,600	Chiyoda Corp.*		14,603
	1,700	Chudenko Corp.		26,802
	494	Cie d’Entreprises CFE SA*		4,297
	1,721	ComSys Holdings Corp.		32,884
	6,098	Costain Group plc*		2,538
	500	Dai-Dan Co., Ltd.		7,791
	900	Daiho Corp.		30,562
	3,389	Eiffage SA		307,728
	2,783	Elecnor SA		31,954
	44	Electra, Ltd./Israel		24,573
	7,737	Eltel AB*(a)		6,008
	37,002	Empresas ICA SAB de C.V.*		156
	3,070	Ferrovial SA		78,275
	1,664	FLSmidth & Co. A/S		41,072
	2,002	Fomento de Construcciones y Contratas SA		19,782
	440	Fudo Tetra Corp.		5,004
	4,141	Fugro NV*		52,280
	200	Fukuda Corp.		6,877
	4,363	Galliford Try Holdings plc		9,028
	6,000	Hazama Ando Corp.		37,298
	1,929	Heijmans NV		21,524
	600	Hibiya Engineering, Ltd.		8,592
	173	Hochtief AG		8,427
	1,093	Implenia AG*		25,022
	6,236	INFRONEER Holdings, Inc.		44,379
	3,147	Instalco AB		13,031
	4,300	JGC Holdings Corp.		55,893
	10,188	Johns Lyng Group, Ltd.		40,316
	5,400	Kajima Corp.		62,014
	3,000	Kandenko Co., Ltd.		18,716
	3,807	Keller Group plc		33,724
	2,500	Kinden Corp.		28,891
	15,900	Koninklijke BAM Groep NV*		37,874
	1,600	Kumagai Gumi Co., Ltd.		32,459
	2,500	Kyowa Exeo Corp.		39,146
	1,700	Kyudenko Corp.		34,403
	9,546	Maire Tecnimont SpA		27,540
	21,000	MECOM Power And Construction, Ltd.		6,353


Shares			Value
Common Stocks, continued
Construction & Engineering, continued
	1,700	Meisei Industrial Co., Ltd.	$	8,827
	3,300	Mirait Holdings Corp.		38,878
	1,475	Monadelphous Group, Ltd.		10,120
	1,922	Morgan Sindall Group plc		42,663
	3,087	NCC AB, Class B		31,089
	1,000	Nichireki Co., Ltd.		9,570
	1,600	Nippon Densetsu Kogyo Co., Ltd.		20,749
	700	Nippon Koei Co., Ltd.		16,808
	100	Nippon Road Co., Ltd. (The)		4,682
	1,900	Nishimatsu Construction Co., Ltd.		56,956
	20,879	NRW Holdings, Ltd.		24,406
	9,100	Obayashi Corp.		66,116
	6,495	Obrascon Huarte Lain SA*		3,999
	1,100	Okumura Corp.		24,439
	8,600	Oriental Shiraishi Corp.		15,157
	5,969	Peab AB		34,940
	8,700	Penta-Ocean Construction Co., Ltd.		47,105
	726	Per Aarsleff Holding A/S		21,779
	2,400	Raiznext Corp.		20,251
	24,100	Sacyr SA		57,978
	1,900	Sanki Engineering Co., Ltd.		21,520
	1,700	Seikitokyu Kogyo Co., Ltd.		10,193
	40,165	Service Stream, Ltd.*		24,234
	3,211	Shapir Engineering And Indus		26,367
	4,339	Shikun & Binui, Ltd.*		17,774
	6,700	Shimizu Corp.		37,065
	1,500	Shinnihon Corp.		7,821
	4,094	Skanska AB, Class B		62,855
	3,001	SNC-Lavalin Group, Inc.		51,626
	881	Strabag Se*		37,446
	6,980	Sumitomo Mitsui Construction		23,780
	3,299	Sweco AB		34,323
	700	Taihei Dengyo Kaisha, Ltd.		15,234
	800	Taikisha, Ltd.		18,765
	2,400	Taisei Corp.		74,790
	1,400	Takamatsu Construction Group C		21,321
	400	Tekken Corp.		5,292
	900	TOA Corp.		16,492
	400	TOA Road Corp.		16,874
	1,630	Tobishima Corp.		12,261
	6,900	Toda Corp.		36,647
	400	Toenec Corp.		10,314
	1,000	Tokyo Energy & Systems, Inc.		7,139
	5,100	Tokyu Construction Co., Ltd.		24,039
	1,100	Totetsu Kogyo Co., Ltd.		19,658
	4,300	Toyo Construction Co., Ltd.		28,091
	2,100	Toyo Engineering Corp.*		9,993
	3,109	Veidekke ASA		28,291
	4,239	Vinci SA		380,780
	555	WSP Global, Inc.		62,762
	1,700	Yahagi Construction Co., Ltd.		9,478
	3,849	YIT OYJ		12,833
	1,200	Yokogawa Bridge Holdings Corp.		17,286
	1,200	Yurtec Corp.		6,532

				3,865,658

Construction Materials (0.7%):
	13,883	Adbri, Ltd.		23,200
	1,800	Asia Pile Holdings Corp.		6,062


Shares			Value
Common Stocks, continued
Construction Materials, continued
	2,976	Brickworks, Ltd.	$	38,095
	2,431	Buzzi Unicem SpA		39,955
	10,867	CRH plc, ADR		378,389
	22,791	CSR, Ltd.		63,896
	3,367	Forterra PLC(a)		10,963
	1,160	H+H International A/S, Class B*		21,742
	3,574	HeidelbergCement AG		171,663
	6,293	Holcim, Ltd.		269,589
	13,005	Ibstock plc(a)		26,212
	1,243	Imerys SA		38,220
	3,617	James Hardie Industries SE		79,209
	400	Krosaki Harima Corp.		12,656
	600	Maeda Kosen Co., Ltd.		13,009
	5,422	Marshalls plc		29,554
	2,500	Nippon Concrete Industries Co., Ltd.		4,922
	405	Rhi Magnesita NV		9,818
	500	Shinagawa Refractories Co., Ltd.		13,146
	123	STO SE & Co KGaA		17,974
	1,500	Sumitomo Osaka Cement Co., Ltd.		37,226
	3,800	Taiheiyo Cement Corp.		56,586
	1,300	TYK Corp.		2,618
	998	Vicat		27,528
	1,393	Wienerberger AG		29,919

				1,422,151

Consumer Finance (0.3%):
	10,300	ACOM Co., Ltd.		24,082
	3,700	AEON Financial Service Co., Ltd.		34,878
	7,800	Aiful Corp.		20,136
	8,198	Axactor SE*		4,963
	974	Cembra Money Bank AG		69,973
	1,607	Credit Corp. Group, Ltd.		22,513
	5,500	Credit Saison Co., Ltd.		63,181
	18,226	Eclipx Group, Ltd.*		29,085
	873	Gruppo MutuiOnline SpA		22,075
	2,616	H&T Group plc		10,188
	5,740	Hoist Finance AB*(a)		15,608
	17,800	Hong Leong Finance, Ltd.		31,018
	14,415	International Personal Finance		13,427
	2,917	Isracard, Ltd.		10,438
	4,300	J Trust Co., Ltd.		13,992
	1,300	Jaccs Co., Ltd.		32,171
	8,673	Money3 Corp., Ltd.		11,722
	15,200	Orient Corp.		14,347
	213,600	Oshidori International Holdings, Ltd.*		12,935
	700	Premium Group Co., Ltd.		20,115
	4,742	Provident Financial plc		11,520
	4,452	Resurs Holding AB(a)		8,841
	38,000	Sun Hung Kai & Co., Ltd.		17,786

				514,994

Containers & Packaging (0.7%):
	3,618	BillerudKorsnas AB		42,496
	4,231	Cascades, Inc.		33,302
	1,780	CCL Industries, Inc.		84,146
	31,429	DS Smith plc		106,199
	1,600	FP Corp.		33,446
	1,900	Fuji Seal International, Inc.		20,659


Shares			Value
Common Stocks, continued
Containers & Packaging, continued
	1,000	Hokkan Holdings, Ltd.	$	9,048
	3,405	Huhtamaki OYJ		135,003
	3,327	Intertape Polymer Group, Inc.		104,644
	149	Mayr Melnhof Karton AG		25,317
	28,458	Orora, Ltd.		71,521
	6,607	Pact Group Holdings, Ltd.		8,233
	8,600	Rengo Co., Ltd.		46,582
	7,369	SIG Combibloc Group AG		162,392
	8,090	Smurfit Kappa Group plc		272,955
	500	Taisei Lamick Co., Ltd.		9,670
	600	Tomoku Co., Ltd.		6,637
	4,000	Toyo Seikan Group Holdings, Ltd.		41,869
	3,570	Transcontinental, Inc.		42,468
	2,064	Verallia SA(a)		49,313
	750	Vetropack Holding AG		31,039
	753	Vidrala SA		54,601
	700	Winpak, Ltd.		23,926

				1,415,466

Distributors (0.2%):
	600	Arata Corp.		17,228
	11,493	Bapcor, Ltd.		48,183
	1,300	Central Automotive Products, Ltd.		22,491
	564	D’ieteren Group		82,616
	1,000	Doshisha Co., Ltd.		11,586
	4,313	Headlam Group plc		15,599
	16,112	Inchcape plc		136,544
	3,365	John Menzies plc*		24,460
	400	Paltac Corp.		12,393
	85	Tadiran Group, Ltd.		11,390
	1,725	Uni-Select, Inc.*		38,333

				420,823

Diversified Consumer Services (0.1%):
	3,986	Academedia AB(a)		17,776
	2,000	Benesse Holdings, Inc.		32,404
	3,227	Dignity plc*		15,868
	8,000	EC Healthcare		8,089
	44,648	G8 Education, Ltd.		32,489
	1,700	IBJ, Inc.		9,483
	2,039	IDP Education, Ltd.		33,466
	1,407	InvoCare, Ltd.		10,162
	400	Park Lawn Corp.		10,580
	25,000	Perfect Medical Health Management, Ltd.		13,464
	900	QB Net Holdings Co., Ltd.		8,903
	2,600	Riso Kyoiku Co., Ltd.		6,117

				198,801

Diversified Financial Services (0.8%):
	1,439	ABC arbitrage		10,585
	84,183	AMP, Ltd.*		55,521
	3,396	Banca Farmafactoring SpA(a)		22,847
	5,878	Banca Mediolanum SpA		38,922
	4,759	Burford Capital, Ltd.		46,628
	16,703	Challenger, Ltd.		78,914
	2,280	doValue SpA(a)		13,530
	5,800	Ecn Capital Corp.		24,831
	800	eGuarantee, Inc.		12,648
	16,244	Element Fleet Management Corp.		169,382


Shares			Value
Common Stocks, continued
Diversified Financial Services, continued
	926	Eurazeo SE	$	57,844
	900	Fuyo General Lease Co., Ltd.		51,117
	565	GRENKE AG		13,836
	20,600	G-Resources Group, Ltd.		6,305
	88	Hypoport SE*		17,454
	140	Jackson Financial, Inc., Class A		3,745
	800	Japan Investment Adviser Co., Ltd.		7,588
	4,600	Japan Securities Finance Co., Ltd.		28,942
	40,597	M&G plc		96,202
	24,220	Mitsubishi HC Capital, Inc.		111,820
	1,000	Mizuho Leasing Co., Ltd.		22,900
	900	NEC Capital Solutions, Ltd.		13,533
	16,085	Ofx Group, Ltd.*		25,750
	7,289	Omni Bridgeway, Ltd.*		17,940
	2,247	Onex Corp.		111,913
	14,700	ORIX Corp.		246,808
	4,583	Plus500, Ltd.		93,330
	1,100	Ricoh Leasing Co., Ltd.		28,350
	45,834	Standard Life Aberdeen plc		89,288
	1,500	Tokyo Century Corp.		49,690
	1,700	Zenkoku Hosho Co., Ltd.		53,288

				1,621,451

Diversified Telecommunication Services (2.6%):
	900	ARTERIA Networks Corp.		8,111
	974	BCE, Inc.		47,901
	44	BCE, Inc.		2,163
	36,348	Bezeq Israeli Telecommunication Corp., Ltd. (The)		56,679
	203,849	BT Group plc		462,495
	686	Cellnex Telecom SAU(a)		26,720
	20,039	Chorus, Ltd.		90,177
	90,000	CITIC Telecom International Holdings, Ltd.		29,862
	46,971	Deutsche Telekom AG		932,460
	3,188	Elisa OYJ		179,170
	2,209	Gamma Communications plc		28,904
	7,634	Helios Towers PLC*		11,235
	27,500	HKBN, Ltd.		31,226
	98,295	HKT Trust & HKT, Ltd.		132,085
	3,856	Infrastrutture Wireless Italiane SpA(a)		39,224
	1,400	Internet Initiative Japan, Inc.		49,022
	69,090	Koninklijke KPN NV		246,417
	3,548	Liberty Global plc, Class C*		78,375
	41,300	NetLink NBN Trust		28,847
	5,000	Nippon Telegraph & Telephone Corp.		143,582
	35,613	Orange SA		418,743
	132,202	PCCW, Ltd.		70,185
	5,067	Proximus SADP		74,695
	14,900	Singapore Telecommunications, Ltd.		27,161
	16,483	Spark New Zealand, Ltd.		49,387
	13,084	Speedcast International, Ltd.*		—
	12,209	Superloop, Ltd.*		6,070
	761	Swisscom AG		421,300
	334,376	Telecom Italia SpA*		87,602
	210,041	Telecom Italia SpA*		52,485
	45,006	Telefonica Deutschland Holding AG		129,243
	117,308	Telefonica SA		597,808
	4,768	Telekom Austria AG*		31,750
	4,475	Telenor ASA		59,638


Shares			Value
Common Stocks, continued
Diversified Telecommunication Services, continued
	40,221	Telia Co AB	$	154,186
	34,939	Telstra Corp., Ltd.		92,785
	4,669	TPG Telecom, Ltd.		19,230
	7,091	Tuas, Ltd.*		5,429
	3,566	United Internet AG, Registered Shares		101,746
	3,751	Uniti Group, Ltd.*		12,741
	900	Usen-Next Holdings Co., Ltd.		12,883

				5,049,722

Electric Utilities (1.4%):
	829	Acciona SA		153,172
	334	BKW AG		34,911
	5,400	Chubu Electric Power Co., Inc.		54,384
	2,800	Chugoku Electric Power Co., Inc. (The)		18,044
	7,000	CK Infrastructure Holdings, Ltd.		43,008
	6,064	CLP Holdings, Ltd.		50,344
	3,804	Contact Energy, Ltd.		17,272
	21,672	EDP — Energias de Portugal SA		101,274
	5,097	Electricite de France		41,713
	675	Elia Group SA/NV		95,738
	2,200	Emera, Inc.		103,077
	4,746	Endesa SA^		89,547
	47,239	Enel SpA		259,607
	240	Energiedienst Holding AG, Registered Shares		10,057
	1,538	EVN AG		32,578
	1,708	Fortis, Inc.		80,737
	915	Fortis, Inc.		43,262
	2,642	Fortum OYJ		39,688
	15,470	Genesis Energy, Ltd.		25,591
	30,000	HK Electric Investments, Ltd.		27,532
	7,700	Hokkaido Electric Power Co., Inc.		28,000
	3,500	Hokuriku Electric Power Co.		13,731
	1,200	Hydro One, Ltd.(a)		32,270
	34,462	Iberdrola SA		357,555
	6,227	Infratil, Ltd.		29,825
	3,500	Kansai Electric Power Co., Inc. (The)		34,682
	7,200	Kyushu Electric Power Co., Inc.		46,283
	1,800	Okinawa Electric Power Co., Inc. (The)		17,412
	24,174	Origin Energy, Ltd.		96,265
	730	Orsted A/S(a)		76,345
	11,500	Power Assets Holdings, Ltd.		72,436
	7,033	Red Electrica Corp SA		133,138
	11	Romande Energie Holding SA, Registered Shares		13,499
	13,134	Scottish & Southern Energy plc		259,616
	3,300	Shikoku Electric Power Co., Inc.		19,246
	10,948	Terna SpA		86,035
	3,900	Tohoku Electric Power Co., Inc.		20,913
	13,500	Tokyo Electric Power Co. Holdings, Inc.*		56,442
	284	Verbund AG, Class A		27,799

				2,743,028

Electrical Equipment (1.2%):
	22,112	ABB, Ltd.		591,059
	600	Chiyoda Integre Co., Ltd.		8,504
	1,300	Denyo Co., Ltd.		15,246
	1,500	Fuji Electric Co., Ltd.		62,219
	12,400	Fujikura, Ltd.		70,381
	3,100	Furukawa Electric Co., Ltd. (The)		50,956


Shares			Value
Common Stocks, continued
Electrical Equipment, continued
	1,200	Futaba Corp.	$	5,886
	485	GARO AB		6,181
	38	Gavazzi Carlo Holding AG		11,509
	3,000	GS Yuasa Corp.		46,996
	3,515	Hexatronic Group AB		26,238
	400	Hirakawa Hewtech Corp.		3,178
	553	Huber & Suhner AG		44,151
	1,600	Idec Corp./Japan		33,010
	1,557	Legrand SA		115,862
	800	Mabuchi Motor Co., Ltd.		20,625
	346	Mersen		10,326
	9,100	Mitsubishi Electric Corp.		97,418
	1,227	Nexans SA		95,988
	1,300	Nidec Corp.		80,396
	500	Nippon Carbon Co., Ltd.		14,714
	1,500	Nitto Kogyo Corp.		25,966
	1,094	NKT A/S*		46,642
	3,878	Nordex Se*		33,060
	17	Phoenix Mecano AG		6,413
	2,550	PNE AG		35,484
	2,643	Prysmian SpA		72,929
	400	Sanyo Denki Co., Ltd.		15,404
	942	Schneider Electric SA		111,581
	200	SEC Carbon, Ltd.		7,492
	2,150	SGL Carbon SE*		13,482
	4,943	Siemens Energy AG		72,480
	701	Siemens Gamesa Renewable Energy*		13,232
	3,816	Signify NV(a)		127,594
	1,000	Sinfonia Technology Co., Ltd.		9,871
	224	Somfy SA		29,126
	1,500	SwCC Showa Holdings Co., Ltd.		18,861
	900	Takaoka Toko Co., Ltd.		11,246
	1,055	Tera Light, Ltd.*		1,684
	1,490	TKH Group NV		56,359
	600	Toyo Tanso Co., Ltd.		12,507
	3,300	Ushio, Inc.		40,865
	140	Varta AG		11,617
	4,284	Vestas Wind Systems A/S		90,799
	527	XP Power, Ltd.		18,281

				2,293,818

Electronic Equipment, Instruments & Components (1.4%):
	600	Ai Holdings Corp.		6,861
	7,060	Alps Alpine Co., Ltd.		71,730
	288	ALSO Holding AG, Registered Shares		56,866
	1,800	Amano Corp.		31,006
	3,300	Anritsu Corp.		35,675
	1,200	Arisawa Manufacturing Co., Ltd.		8,851
	1,280	Austria Technologie & Systemte		68,486
	225	Basler AG		18,046
	900	Canon Electronics, Inc.		10,149
	1,300	Canon Marketing Japan, Inc.		27,020
	5,004	Celestica, Inc.*		48,679
	157	Cicor Technologies, Ltd.*		7,515
	9,300	Citizen Watch Co., Ltd.		37,660
	3,400	CMK Corp.		10,737
	3,981	Codan, Ltd./Australia		19,141
	1,300	Conexio Corp.		12,730


Shares			Value
Common Stocks, continued
Electronic Equipment, Instruments & Components, continued
	4,100	Daiwabo Holdings Co., Ltd.	$	53,508
	1,700	Dexerials Corp.		44,881
	972	Dicker Data, Ltd.		7,409
	1,100	Elematec Corp.		10,206
	700	Evertz Technologies, Ltd.		7,098
	7,452	Fingerprint Cards AB*		6,526
	2,100	Furuno Electric Co., Ltd.		15,645
	400	Hagiwara Electric Co., Ltd.		5,944
	500	Hakuto Co., Ltd.		9,336
	511	Halma plc		12,595
	900	Hamamatsu Photonics KK		34,998
	2,429	Hexagon AB, Class B		25,271
	200	Hirose Electric Co., Ltd.		26,415
	1,200	Hochiki Corp.		11,399
	800	Horiba, Ltd.		33,893
	2,600	Hosiden Corp.		23,562
	2,300	Ibiden Co., Ltd.		64,290
	47	Inficon Holding AG		37,066
	400	I-PEX, Inc.		3,754
	300	Iriso Electronics Co., Ltd.		7,071
	2,300	Japan Aviation Electronics Industry, Ltd.		34,668
	1,100	Japan Cash Machine Co., Ltd.		5,413
	1,679	Jenoptik AG		37,428
	1,000	Kaga Electronics Co., Ltd.		22,355
	300	Keyence Corp.		102,684
	1,200	Koa Corp.		14,319
	1,400	Kyocera Corp.		74,948
	3,500	Kyosan Electric Manufacturing Co., Ltd.		11,153
	3,313	Lagercrantz Group AB		26,863
	527	Landis+Gyr Group AG		27,653
	18	Lem Holding SA, Registered Shares		34,412
	1,700	Macnica Fuji Electronics Holdings		32,806
	200	Maruwa Co., Ltd./Aichi		22,695
	900	Meiko Electronics Co., Ltd.		20,912
	978	Micronic Mydata AB		13,774
	2,156	Midwich Group plc		15,391
	4,600	Murata Manufacturing Co., Ltd.		249,175
	267	Nederland Apparatenfabriek		16,730
	2,800	Nichicon Corp.		26,011
	600	Nippon Chemi-Con Corp.*		7,518
	2,100	Nippon Electric Glass Co., Ltd.		40,006
	3,400	Nippon Signal Co., Ltd.		24,650
	1,800	Nissha Co., Ltd.		19,537
	600	Nohmi Bosai, Ltd.		8,168
	3,600	OKI Electric Industry Co., Ltd.		19,679
	500	Omron Corp.		25,430
	3,000	Osaki Electric Co., Ltd.		10,798
	1,627	Oxford Instruments plc		39,137
	3,149	Pricer AB		4,744
	324	Renishaw plc		14,071
	1,100	Restar Holdings Corp.		15,471
	1,400	Ryoden Corp.		16,364
	1,100	Ryosan Co., Ltd.		17,785
	185	Sensirion Holding AG*(a)		18,779
	63	Sesa SpA		8,004
	400	Shibaura Electronics Co., Ltd.		14,744
	1,600	Shimadzu Corp.		50,649
	1,200	Shinko Shoji Co., Ltd.		7,797


Shares			Value
Common Stocks, continued
Electronic Equipment, Instruments & Components, continued
	2,000	Siix Corp.	$	14,035
	3,154	Smart Metering Systems plc		31,441
	1,318	Spectris plc		43,829
	6,120	Strix Group plc		12,452
	2,000	Sumida Corp.		11,777
	700	Tachibana Eletech Co., Ltd.		7,852
	1,700	Taiyo Yuden Co., Ltd.		57,852
	2,500	Tamura Corp.		10,352
	7,600	TDK Corp.		235,075
	2,600	Topcon Corp.		33,929
	1,300	Toyo Corp.		10,601
	7,103	TT Electronics plc		15,239
	100	V Technology Co., Ltd.		2,060
	312	Vaisala OYJ, Class A		13,371
	4,400	Venture Corp., Ltd.		52,758
	44,000	Vstecs Holdings, Ltd.		35,199
	2,200	Yokogawa Electric Corp.		36,099
	1,100	Yokowo Co., Ltd.		16,896

				2,705,557

Energy Equipment & Services (0.4%):
	7,314	Akastor ASA*		6,197
	5,393	Aker Solutions ASA		14,582
	2,991	BW Offshore, Ltd.		8,102
	5,874	Ces Energy Solutions Corp.		10,634
	29,491	CGG SA*		25,717
	4,726	Computer Modelling Group, Ltd.		17,846
	6,058	Enerflex, Ltd.		28,572
	8,606	Ensign Energy Services, Inc.*		22,535
	6,704	Hunting plc		17,619
	18,612	John Wood Group plc*		35,340
	8,257	Lamprell plc*		873
	1,000	Modec, Inc.		8,581
	2,400	North American Construction Group, Ltd.		26,350
	7,269	Odfjell Drilling, Ltd.*		17,045
	1,211	Odfjell Technology, Ltd.*		2,512
	1,450	Pason Systems, Inc.		16,438
	7,745	Petrofac, Ltd.*		10,568
	18,993	Petroleum Geo-Services ASA*		12,911
	818	Precision Drilling Corp.*		52,569
	320	Saipem SpA*^		860
	5,417	SBM Offshore NV		73,661
	174	Schoeller-Blackman Oilfield Equipment AG		9,794
	8,377	Secure Energy Services, Inc.		39,054
	3,900	ShawCor, Ltd.*		17,303
	5,516	Subsea 7 SA		44,408
	5,044	Technip Energies NV		62,917
	1,677	Tecnicas Reunidas SA*		12,399
	1,044	Tenaris SA, ADR		26,820
	1,938	Tenaris SA		24,895
	2,965	TGS ASA		41,906
	421	The Drilling Co of 1972 A/S*		17,329
	900	Total Energy Services, Inc.		5,224
	400	Toyo Kanetsu KK		7,812
	13,311	Trican Well Service, Inc.*		38,164
	2,831	Vallourec SA*		33,814
	6,393	Worley, Ltd.		62,485

				853,836


Shares			Value
Common Stocks, continued
Entertainment (0.5%):
	800	Akatsuki, Inc.	$	16,058
	900	Avex, Inc.		8,949
	11,278	Bollore, Inc.		52,607
	2,427	Borussia Dortmund GMBH & Co. KGaA*		9,102
	2,800	Capcom Co., Ltd.		68,055
	268	CTS Eventim AG & Co. KGaA*		14,041
	1,900	DeNA Co., Ltd.		26,472
	2,590	Event Hospitality And Entertainment, Ltd.*		23,344
	1,590	Gungho Online Enetertainment, Inc.		28,090
	38,000	IGG, Inc.		16,743
	82	Kinepolis Group NV*		3,940
	1,300	KLab, Inc.*		5,745
	1,100	Konami Holdings Corp.		60,931
	3,270	Modern Times Group Mortgage AB*		26,296
	1,100	Nexon Co., Ltd.		22,541
	700	Nintendo Co., Ltd.		302,579
	700	Square Enix Holdings Co., Ltd.		31,031
	510	Technicolor SA*		1,509
	100	Toei Animation Co., Ltd.		7,971
	200	Toei Co., Ltd.		26,224
	2,585	UbiSoft Entertainment SA*		114,167
	2,949	Universal Music Group NV		59,574
	700	UUUM, Inc.*		6,981
	6,474	Vivendi Universal SA		66,061
	5,570	WildBrain, Ltd.*		10,647

				1,009,658

Equity Real Estate Investment Trusts (0.0%^†):
	1,160	CDL Hospitality Trusts		1,061
	34,955	SPH REIT		23,533

				24,594

Food & Staples Retailing (2.2%):
	5,600	AEON Co., Ltd.		97,227
	500	Ain Holdings, Inc.		26,729
	7,272	Alimentation Couche-Tard, Inc.		283,704
	702	Amsterdam Commodities NV		16,630
	1,200	Arcs Co., Ltd.		17,706
	1,537	Axfood AB		44,239
	800	Axial Retailing, Inc.		18,409
	600	Belc Co., Ltd.		22,872
	16,561	Carrefour SA		293,800
	1,395	Casino Guichard-Perrachon SA*^		18,063
	1,100	Cawachi, Ltd.		17,382
	8,111	Coles Group, Ltd.		99,732
	1,589	Colruyt SA		43,205
	500	Cosmos Pharmaceutical Corp.		48,195
	1,300	Create SD Holdings Co., Ltd.		28,680
	500	Daikokutenbussan Co., Ltd.		14,383
	4,900	Dairy Farm International Holdings, Ltd.		14,369
	2,391	Empire Co., Ltd., Class A		73,662
	9,117	Endeavour Group, Ltd.		47,645
	500	Fuji Co., Ltd./Ehime		7,837
	500	Genky Drugstores Co., Ltd.		12,372
	1,093	George Weston, Ltd.		127,704
	1,600	Heiwado Co., Ltd.		23,561
	1,765	HelloFresh SE*		57,105
	200	Itochu-Shokuhin Co., Ltd.		7,226


Shares			Value
Common Stocks, continued
Food & Staples Retailing, continued
	43,950	J Sainsbury plc	$	109,155
	968	Jeronimo Martins SGPS SA		21,037
	600	JM Holdings Co., Ltd.		7,026
	600	Kato Sangyo Co., Ltd.		14,403
	6,632	Kesko Oyj, Class B		156,539
	2,295	Kesko OYJ, Class A		49,679
	1,700	Kobe Bussan Co., Ltd.		41,620
	23,360	Koninklijke Ahold Delhaize NV		608,715
	400	Kusuri NO Aoki Holdings Co., Ltd.		17,110
	900	LAWSON, Inc.		29,929
	800	Life Corp.		15,276
	2,011	Loblaw Cos., Ltd.		181,396
	215	M Yochananof & Sons, Ltd.		12,923
	780	Matsumotokiyoshi Holdings Co., Ltd.		31,551
	25,319	Metcash, Ltd.		74,039
	5,881	METRO AG*		49,625
	3,317	Metro, Inc.		178,067
	600	Ministop Co., Ltd.		6,472
	900	Mitsubishi Shokuhin Co., Ltd.		25,229
	1,200	Nihon Chouzai Co., Ltd.		11,646
	1,801	North West Co., Inc.		46,585
	821	Ocado Group plc*		7,807
	10,925	Olam Group, Ltd.*		11,970
	1,200	Qol Holdings Co., Ltd.		12,492
	1,094	Rallye SA*		3,187
	337	Rami Levy Chain Stores Hashikm		24,157
	1,000	Retail Partners Co., Ltd.		8,408
	600	San-A Co., Ltd.		18,139
	6,400	Seven & I Holdings Co., Ltd.		248,129
	28,900	Sheng Siong Group, Ltd.		31,630
	4,880	Shufersal, Ltd.		32,150
	1,454	Sligro Food Group NV*		27,564
	38,447	Sonae SGPS SA		47,333
	900	Sugi Holdings Co., Ltd.		39,455
	1,800	Sundrug Co., Ltd.		40,338
	59,682	Tesco plc		185,600
	1,300	Tsuruha Holdings, Inc.		70,589
	2,100	United Supermarkets Holdings		16,522
	2,200	Valor Holdings Co., Ltd.		29,614
	1,400	Watahan & Co., Ltd.		14,122
	1,400	Welcia Holdings Co., Ltd.		28,055
	7,800	Woolworths Group, Ltd.		191,568
	800	YAKUODO Holdings Co., Ltd.		12,354
	700	Yamatane Corp.		8,253
	700	Yaoko Co., Ltd.		31,374
	2,800	Yokorei Co., Ltd.		18,169

				4,309,438

Food Products (2.6%):
	5,898	A2 Milk Co., Ltd.*		18,083
	509	AAK AB		8,313
	364	Agrana Beteiligungs AG		6,488
	4,500	Ajinomoto Co., Inc.		109,521
	44,180	Aryzta AG*		49,132
	3,902	Associated British Foods plc		75,419
	772	Atria OYJ		7,022
	2,327	Austevoll Seafood ASA		27,328
	363	Bakkafrost P/F		23,291


Shares			Value
Common Stocks, continued
Food Products, continued
	79	Barry Callebaut AG, Registered Shares	$	176,960
	8,561	Bega Cheese, Ltd.		22,527
	125	Bell AG		33,079
	854	Bonduelle S.C.A.		13,924
	2,000	Calbee, Inc.		40,348
	1	Chocoladefabriken Lindt & Spruengli AG		104,867
	800	Chubu Shiryo Co., Ltd.		6,163
	12,278	Cloetta AB		25,183
	15,071	Costa Group Holdings, Ltd.		29,759
	1,411	Cranswick plc		52,867
	3,414	Danone SA		191,836
	1,700	Delfi, Ltd.		919
	10,007	Devro plc		22,339
	500	DyDo Group Holdings, Inc.		18,545
	2,372	Ebro Foods SA		40,031
	4,736	Elders, Ltd.		41,164
	80	Emmi AG		77,939
	400	Ezaki Glico Co., Ltd.		11,576
	108,669	First Pacific Co., Ltd.		42,154
	27,100	First Resources, Ltd.		31,831
	1,616	Forfarmers NV		4,503
	9,500	Fraser & Neave, Ltd.		9,028
	1,700	Fuji Oil Holdings, Inc.		26,856
	3,286	Glanbia plc		35,567
	260,400	Golden Agri-Resources, Ltd.		46,934
	11,957	GrainCorp, Ltd.		79,103
	17,127	Greencore Group plc*		20,701
	1,502	Grieg Seafood ASA		21,421
	1,100	High Liner Foods, Inc.		10,282
	1,923	Hilton Food Group plc		23,914
	1,600	Hokuto Corp.		22,802
	700	House Foods Group, Inc.		14,592
	15,498	Inghams Group, Ltd.		27,603
	2,700	Itoham Yonekyu Holdings, Inc.		13,732
	300	Iwatsuka Confectionery Co., Ltd.		8,823
	900	JDE Peet’s NV		25,690
	600	J-Oil Mills, Inc.		7,114
	800	Kagome Co., Ltd.		19,529
	800	Kakiyasu Honten Co., Ltd.		14,163
	400	Kameda Seika Co., Ltd.		14,213
	700	Kenko Mayonnaise Co., Ltd.		7,469
	506	Kerry Group plc, Class A		48,465
	2,800	Kewpie Corp.		47,364
	900	Kikkoman Corp.		47,808
	163	KWS Saat SE		9,649
	500	Kyokuyo Co., Ltd.		12,739
	147	Lassonde Industries, Inc.		13,599
	3,154	Leroy Seafood Group ASA		22,470
	17	Lotus Bakeries		93,327
	2,349	Maple Leaf Foods, Inc.		46,195
	1,200	Marudai Food Co., Ltd.		13,582
	2,100	Maruha Nichiro Corp.		39,552
	1,700	Megmilk Snow Brand Co., Ltd.		22,739
	41	Mehadrin, Ltd.*		1,771
	1,500	Meiji Holdings Co., Ltd.		73,654
	800	Mitsui Sugar Co., Ltd.		11,243
	1,300	Morinaga & Co., Ltd.		41,675


Shares			Value
Common Stocks, continued
Food Products, continued
	1,100	Morinaga Milk Industry Co., Ltd.	$	39,385
	2,770	Mowi ASA		63,225
	9,118	Nestle SA		1,069,903
	389	Neto Malinda Trading, Ltd.*		15,639
	2,400	NH Foods, Ltd.		75,135
	2,600	Nichirei Corp.		45,228
	1,200	Nippn Corp.		14,439
	800	Nippon Beet Sugar Manufacturing Co., Ltd.		10,070
	12,400	Nippon Suisan Kaisha, Ltd.		52,398
	1,200	Nisshin Oillio Group, Ltd. (The)		27,737
	2,700	Nisshin Seifun Group, Inc.		31,616
	300	Nissin Foods Holdings Co., Ltd.		20,714
	326	Orior AG		27,261
	3,996	Orkla ASA, Class A		32,000
	30,027	Premier Foods plc		41,334
	505	Premium Brands Holdings Corp.		36,606
	1,300	Prima Meat Packers, Ltd.		21,829
	11,830	Ridley Corp., Ltd.		14,620
	4,400	Rogers Sugar, Inc.		20,684
	600	S Foods, Inc.		13,784
	482	Salmar ASA		34,022
	2,346	Sanford, Ltd.*		6,025
	2,356	Saputo, Inc.		51,385
	127	Savencia SA		8,006
	3,496	Scales Corp., Ltd.		9,472
	3,767	Scandi Standard AB*		13,449
	619	Schouw & Co.		43,179
	2,906	Select Harvests, Ltd.		9,493
	800	Showa Sangyo Co., Ltd.		14,965
	306	Sipef SA		20,366
	114	Societe LDC SA		10,655
	600	Starzen Co., Ltd.		8,804
	1,353	Strauss Group, Ltd.		33,310
	2,659	Suedzucker AG		42,863
	2,839	Synlait Milk, Ltd.*		5,515
	11,672	Tassal Group, Ltd.		38,776
	12,165	Tate & Lyle PLC		110,961
	1,100	Toyo Suisan Kaisha, Ltd.		42,914
	58	UIE PLC		17,178
	13,688	United Malt Grp, Ltd.		30,873
	217	Vilmorin & Cie SA		9,154
	1,635	Viscofan SA		90,181
	22,000	Vitasoy International Holdings, Ltd.		^ 38,501
	400	Warabeya Nichiyo Holdings Co., Ltd.		5,218
	253,915	WH Group, Ltd.(a)		196,457
	35,600	Wilmar International, Ltd.		103,605
	600	Yakult Honsha Co., Ltd.		34,643
	3,700	Yamazaki Baking Co., Ltd.		45,199

				5,057,255

Gas Utilities (0.5%):
	7,684	AltaGas, Ltd.		162,158
	9,887	APA Group		76,846
	2,571	Brookfield Infrastructure Corp., Class A		109,133
	7,976	Enagas SA		176,153
	39,850	Hong Kong & China Gas Co., Ltd.		42,932
	10,984	Italgas SpA		64,134
	800	K&O Energy Group, Inc.		8,844


Shares			Value
Common Stocks, continued
Gas Utilities, continued
	387	Naturgy Energy Group SA	$	11,146
	3,400	Nippon Gas Co., Ltd.		48,243
	2,900	Osaka Gas Co., Ltd.		55,706
	1,605	Rubis SCA		37,731
	1,300	Saibu Gas Co., Ltd.		18,092
	1,300	Shizuoka Gas Co. Ltd.		8,715
	15,996	Snam SpA		83,945
	3,450	Superior Plus Corp.		30,452
	1,100	Toho Gas Co., Ltd.		26,534
	2,200	Tokyo Gas Co., Ltd.		45,523

				1,006,287

Health Care Equipment & Supplies (1.3%):
	2,536	Alcon, Inc.		177,178
	1,289	Alcon, Inc.		90,088
	1,070	Ambu A/S, Class B^		10,459
	3,762	Ansell, Ltd.		57,763
	2,637	Arjo AB, Class B		16,695
	1,200	Asahi Intecc Co., Ltd.		18,094
	724	BioMerieux		70,707
	230	Carl Zeiss Meditec AG		27,462
	246	Cellavision AB		8,158
	434	Cochlear, Ltd.		59,551
	597	Coloplast A/S, Class B		68,198
	251	Coltene Holding AG		21,648
	15,236	Convatec Group plc(a)		41,818
	1,946	Demant A/S*		73,060
	419	DiaSorin SpA		55,026
	238	Draegerwerk AG & Co. KGaA		10,542
	509	Draegerwerk AG & Co. KGaA		26,551
	458	Eckert & Ziegler AG		17,491
	2,223	Elekta AB, Class B^		15,365
	2,090	Fisher & Paykel Healthcare Corp., Ltd.		26,027
	300	Fukuda Denshi Co., Ltd.		16,404
	1,212	Getinge AB, Class B		28,046
	4,399	GN Store Nord A/S		155,203
	405	Guerbet		9,449
	800	Hogy Medical Co., Ltd.		17,763
	2,300	Hoya Corp.		196,644
	500	Jeol, Ltd.		19,311
	710	Koninklijke Philips Electronics NV, NYS		15,286
	5,281	Koninklijke Philips NV		114,568
	700	Mani, Inc.		6,812
	105	Medacta Group SA(a)		10,026
	849	Medmix AG(a)		18,824
	1,600	Menicon Co., Ltd.		36,778
	10	Metall Zug AG		20,020
	1,200	Nakanishi, Inc.		21,121
	1,600	Nihon Kohden Corp.		32,741
	7,000	Nipro Corp.		55,089
	7,100	Olympus Corp.		142,808
	1,800	Paramount Bed Holdings Co., Ltd.		29,233
	457	Revenio Group OYJ		20,375
	16,500	Riverstone Holdings, Ltd.		8,797
	174	Sartorius AG		60,771
	645	Siemens Healthineers AG(a)		32,783
	1,648	Smith & Nephew plc		23,037
	2,012	Smith & Nephew plc, ADR		56,175


Shares			Value
Common Stocks, continued
Health Care Equipment & Supplies, continued
	520	Sonova Holding AG	$	165,631
	360	Stratec Se		32,894
	710	Straumann Holding AG, Class R		85,421
	1,200	Sysmex Corp.		72,316
	1,400	Terumo Corp.		42,223
	180	Ypsomed Holding AG		24,447

				2,462,877

Health Care Providers & Services (0.8%):
	3,400	Alfresa Holdings Corp.		45,710
	2,772	Amplifon SpA		85,327
	18,908	Arvida Group, Ltd.		17,468
	200	As One Corp.		7,895
	6,164	Attendo AB*(a)		13,314
	700	BML, Inc.		18,200
	3,715	CareTech Holdings plc		33,544
	862	CVS Group plc		17,375
	1,249	Ebos Group, Ltd.		30,374
	1,000	Elan Corp.		7,711
	4,012	Extendicare, Inc.		21,385
	3,112	Fagron		50,373
	1,400	France Bed Holdings Co., Ltd.		9,363
	2,579	Fresenius Medical Care AG & Co., KGaA		128,788
	5,366	Fresenius SE & Co. KGaA		162,568
	1,900	H.U. Group Holdings, Inc.		41,278
	20,914	Healius, Ltd.		52,835
	2,572	Humana AB*		11,223
	4,771	Integral Diagnostics, Ltd.		9,973
	2,000	Japan Lifeline Co., Ltd.		13,485
	1,000	Japan Medical Dynamic Marketing, Inc.		11,749
	2,704	Korian SA		40,522
	225	Lna Sante		7,945
	3,204	Medical Facilities Corp.		21,758
	15,698	Mediclinic International plc*		87,798
	1,044	Medicover AB, Class B		13,614
	3,500	Medipal Holdings Corp.		49,394
	3,565	Mediterranean Towers, Ltd.		9,712
	1,110	NMC Health plc*		—
	11,023	Novolog, Ltd.		9,871
	22,209	Oceania Healthcare, Ltd.		12,893
	6,310	Oriola Oyj, Class B		12,541
	1,066	Orpea		25,979
	24,015	Raffles Medical Group, Ltd.		19,379
	1,997	Ramsay Health Care, Ltd.		100,972
	7,784	Regis Healthcare, Ltd.		9,933
	2,814	Ryman Healthcare, Ltd.		15,614
	2,100	Ship Healthcare Holdings, Inc.		37,381
	59,044	Sigma Healthcare, Ltd.		23,640
	1,900	Solasto Corp.		10,218
	6,966	Sonic Healthcare, Ltd.		158,771
	8,887	Spire Healthcare Group plc*(a)		25,432
	6,678	Summerset Group Holdings, Ltd.		39,971
	1,500	Suzuken Co., Ltd.		42,381
	1,422	Terveystalo OYJ(a)		15,233
	1,800	Toho Holdings Co., Ltd.		27,796
	500	Tokai Corp./Gifu		6,139
	3,655	Virtus Health, Ltd.		19,926
	2,800	Vital Ksk Holdings, Inc.		14,289

				1,649,040


Shares			Value
Common Stocks, continued
Health Care Technology (0.2%):
	7,980	AGFA-Gevaert NV*	$	29,403
	1,026	Ascom Holding AG		7,226
	857	CompuGroup Medical SE & Co KgaA		36,509
	2,389	Emis Group plc		54,238
	2,400	M3, Inc.		69,060
	700	MedPeer, Inc.*		9,582
	133	Nexus AG		6,965
	800	Nnit A/S*(a)		8,291
	94	Pharmagest Interactive		7,511
	1,258	Pro Medicus, Ltd.		36,712
	1,213	Raysearch Laboratories AB*		6,458
	3,335	Sectra AB, Class B*		44,890

				316,845

Hotels, Restaurants & Leisure (1.5%):
	2,190	888 Holdings plc		4,494
	2,915	Accor SA*		80,046
	600	AEON Fantasy Co., Ltd.		11,877
	1,000	Airtrip Corp.*		18,777
	1,000	Arcland Service Holdings Co., Ltd.		15,480
	23,206	Ardent Leisure Group, Ltd.*		22,427
	4,661	Aristocrat Leisure, Ltd.		110,672
	614	Basic-Fit NV*(a)		23,398
	3,095	Betsson AB*		18,724
	20,000	Cafe de Coral Holdings, Ltd.		32,185
	1,533	Carnival plc, ADR*		12,111
	72,000	Century City International Holdings, Ltd.*		2,907
	970	Cie des Alpes*		14,656
	4,935	Collins Foods, Ltd.		33,773
	700	Colowide Co., Ltd.		9,479
	9,845	Compass Group plc		201,521
	553	Corporate Travel Management, Ltd.*		7,053
	3,200	Create Restaurants Holdings In		22,043
	2,300	Curves Holdings Co., Ltd.		11,200
	799	Domino’s Pizza Enterprises, Ltd.		37,464
	10,911	Domino’s Pizza Group plc		37,087
	1,600	Doutor Nichires Holdings Co., Ltd.		18,170
	4,906	Elior Group*(a)		10,900
	3,030	Entain plc*		45,970
	253	Evolution AB(a)		23,048
	6,500	Fairwood Holdings, Ltd.		11,795
	87	Fattal Holdings 1998, Ltd.*		9,084
	1,821	Flight Centre Travel Group, Ltd.*		21,788
	2,342	Flutter Entertainment plc*		235,259
	495	Flutter Entertainment plc*		50,105
	2,000	Food & Life Cos., Ltd.		42,658
	500	Fuji Kyuko Co., Ltd.		15,492
	557	Fuller Smith & Turner plc, Class A		4,081
	7,000	Galaxy Entertainment Group, Ltd.		41,889
	200	Genki Sushi Co., Ltd.		3,746
	78,300	Genting Singapore, Ltd.		40,652
	3,888	Greggs plc		86,128
	2,921	Hollywood Bowl Group PLC		7,398
	18,230	Hongkong & Shanghai Hotels (The)*		16,786
	1,499	InterContinental Hotels Group plc, ADR		81,021
	2,484	JD Wetherspoon plc*		18,866
	868	Jumbo Interactive, Ltd.		8,509
	1,100	KFC Holdings Japan, Ltd.		23,056


Shares			Value
Common Stocks, continued
Hotels, Restaurants & Leisure, continued
	6,856	Kindred Group plc	$	57,056
	1,700	Komeda Holdings Co., Ltd.		28,845
	1,667	La Francaise des Jeux SAEM(a)		58,066
	21,530	Lottery Corp., Ltd. (The)*		67,157
	33,812	Marston’s plc*		21,192
	500	McDonald’s Holdings Co., Ltd.		18,206
	23,000	Melco International Development Ltd.*		17,025
	2,819	Melia Hotels International SA*		17,910
	14,000	Miramar Hotel & Investment		25,293
	11,969	Mitchells & Butlers plc*		26,844
	400	Monogatari Corp. (The)		17,293
	313	MTY Food Group, Inc.		12,464
	46,000	NagaCorp, Ltd.*		37,631
	200	Oriental Land Co., Ltd.		27,858
	2,702	Pandox AB*		30,338
	900	Pizza Pizza Royalty Corp.		8,497
	10,182	PlayTech plc*		67,109
	600	Pollard Banknote, Ltd.		9,403
	12,439	Rank Group plc*		12,965
	1,500	Resorttrust, Inc.		24,508
	2,049	Restaurant Brands International, Inc.		102,757
	400	Restaurant Brands International, Inc.		20,068
	3,018	Restaurant Brands New Zealand, Ltd.		20,376
	19,755	Restaurant Group plc (The)*		10,826
	1,200	Saint Marc Holdings Co., Ltd.		14,008
	3,788	Sands China, Ltd.*		9,250
	5,463	Scandic Hotels Group AB*^(a)		21,116
	44,000	Shangri-La Asia, Ltd.*		35,679
	78,868	SJM Holdings, Ltd.*		35,909
	1,360	SkiStar AB		18,448
	28,026	Sky City Entertainment Group, Ltd.		50,922
	6,100	Skylark Holdings Co., Ltd.^		71,475
	1,782	Sodexo SA		126,431
	13,126	SSP Group plc*		37,210
	30,737	Star Entertainment Group, Ltd. (The)*		59,213
	21,530	Tabcorp Holdings, Ltd.		15,831
	581	The Gym Group plc*(a)		1,345
	137	Tivoli A/S*		15,518
	800	Tokyotokeiba Co., Ltd.^		23,162
	2,200	Toridoll Holding Corp.		37,420
	7,408	TUI AG*		11,962
	2,698	Whitbread plc		81,495
	500	Young & Co.’s Brewery plc, Class A		6,913
	2,100	Zensho Holdings Co., Ltd.		50,416

				3,007,185

Household Durables (1.6%):
	5,875	Azorim-Investment Development & Construction Co., Ltd.		22,226
	4,812	Bang & Olufsen A/S*^		9,448
	14,363	Barratt Developments plc		80,048
	3,181	Bellway plc		83,162
	2,165	Berkeley Group Holdings plc*		98,216
	1,566	Bigben Interactive		26,335
	3,728	Bonava AB		10,824
	6,992	Bovis Homes Group plc		71,121
	1,520	Breville Group, Ltd.		18,888
	27,975	Cairn Home plc		29,181


Shares			Value
Common Stocks, continued
Household Durables, continued
	4,900	Casio Computer Co., Ltd.	$	45,515
	600	Chofu Seisakusho Co., Ltd.		7,800
	9,695	Countryside Properties plc*(a)		29,297
	6,556	Crest Nicholson Holdings plc		19,437
	1,076	De’Longhi		20,112
	7,507	DFS Furniture plc		14,362
	1,000	Dorel Industries, Inc.		5,019
	2,152	Duni AB*		17,176
	4,630	Electrolux AB, Class B		62,396
	1,200	Es-Con Japan, Ltd.		6,770
	2,053	Fiskars OYJ Abp		38,617
	36	Forbo Holding AG		47,994
	1,600	Fuji Corp., Ltd.		7,728
	900	Fujitsu General, Ltd.		17,859
	25,820	Glenveagh Properties PLC*(a)		25,312
	9,100	Haseko Corp.		106,662
	2,710	Henry Boot plc		9,568
	700	Hoosiers Holdings		4,134
	2,100	Iida Group Holdings Co., Ltd.		32,351
	2,147	JM AB		35,585
	10,600	Jvc Kenwood Corp.		13,806
	958	Kaufman & Broad SA		26,118
	1,300	LEC, Inc.		6,136
	540	Leifheit AG		11,210
	43,200	Man Wah Holdings, Ltd.		46,738
	313	Nacon SA*		1,938
	1,363	Neinor Homes SA(a)		17,081
	3,300	Nikon Corp.		38,207
	5,576	Nobia AB		14,956
	1,200	Open House Co., Ltd.		47,804
	25,900	Panasonic Holdings Corp.		209,550
	4,900	Persimmon plc		111,211
	1,200	Pressance Corp.		13,366
	6,708	Redrow plc		39,968
	600	Rinnai Corp.		41,300
	1,300	Sangetsu Corp.		14,937
	864	SEB SA		83,346
	5,900	Sekisui Chemical Co., Ltd.		80,834
	6,500	Sekisui House, Ltd.		113,777
	3,000	Sharp Corp.		23,222
	10,000	Sony Group Corp.		817,359
	4,800	Sumitomo Forestry Co., Ltd.		68,101
	328	Surteco Group SE		7,735
	1,100	Tama Home Co., Ltd.		19,874
	1,100	Tamron Co., Ltd.		20,397
	84,968	Taylor Wimpey plc		120,761
	805	The Vitec Group plc		12,860
	1,000	TOA Corp.		5,553
	3,468	TomTom NV*		25,673
	100	V-ZUG Holding AG*		9,322

				3,066,283

Household Products (0.3%):
	300	Earth Corp.		11,506
	636	Essity AB		16,581
	2,414	Essity AB, Class B		63,061
	605	Henkel AG & Co. KGaA		37,020
	4,400	Lion Corp.		48,543


Shares			Value
Common Stocks, continued
Household Products, continued
	14,255	Mcbride plc*	$	2,688
	2,000	Pigeon Corp.		27,457
	5,635	PZ Cussons plc		13,497
	3,246	Reckitt Benckiser Group plc		243,769
	1,600	Unicharm Corp.		53,577

				517,699

Independent Power and Renewable Electricity Producers (0.6%):
	2,251	7C Solarparken AG		10,991
	1,528	Albioma SA		79,908
	1,551	Boralex, Inc., Class A		51,676
	1,800	Capital Power Corp.		62,951
	4,606	ContourGlobal plc(a)		14,107
	18,267	Drax Group plc		143,060
	2,483	EDP Renovaveis SA		58,662
	1,700	EF-ON, Inc.		6,858
	1,300	Electric Power Development Co., Ltd.		21,499
	1,200	Encavis AG		22,006
	2,646	Energix-Renewable Energies, Ltd.		8,045
	9,491	Enlight Renewable Energy, Ltd.*		18,109
	1,000	eRex Co., Ltd.		16,192
	1,756	ERG SpA		54,672
	501	Greenvolt-Energias Renovaveis SA*		3,859
	2,055	Innergex Renewable Energy, Inc.		27,624
	690	Kenon Holdings, Ltd.		27,912
	2,800	New Energy Solar, Ltd.		1,549
	5,078	Northland Power, Inc.		151,196
	2,264	OPC Energy, Ltd.*		22,292
	1,500	Polaris Infrastructure, Inc.		22,692
	500	Renova, Inc.*		9,013
	1,250	Scatec ASA(a)		10,796
	1,714	Solaria Energia y Medio Ambiente SA*		36,376
	11,642	Transalta Corp.		132,883
	2,200	Transalta Renewables, Inc.		28,120
	1,431	Uniper SE		21,232
	910	West Holdings Corp.		24,501

				1,088,781

Industrial Conglomerates (1.1%):
	182	Aker ASA, Class A Shares		14,020
	865	Bonheur ASA		31,472
	1,015	Chargeurs SA		15,713
	8,000	Chevalier International Holdings Ltd.		9,461
	16,930	CK Hutchison Holdings, Ltd.		115,140
	1,711	DCC plc		106,893
	2,000	Guoco Group, Ltd.		20,162
	8,900	Hitachi, Ltd.		421,755
	822	Indus Holding AG		19,126
	515	Italmobiliare SpA		14,230
	2,700	Jardine Cycle & Carriage, Ltd.		55,032
	1,500	Katakura Industries Co., Ltd.		22,398
	1,700	Keihan Holdings Co., Ltd.		42,384
	18,500	Keppel Corp., Ltd.		86,513
	1,149	Lifco AB, Class B		18,485
	51,933	Melrose Industries plc		94,811
	5,400	Nisshinbo Holdings, Inc.		40,667
	6,522	Nolato AB, Class B		35,109
	1,300	Noritsu Koki Co., Ltd.		22,038


Shares			Value
Common Stocks, continued
Industrial Conglomerates, continued
	49,000	NWS Holdings, Ltd.	$	46,573
	1,821	Rheinmetall AG		420,439
	3,900	Seibu Holdings, Inc.		41,082
	70,000	Shun Tak Holdings, Ltd.*		14,140
	2,024	Siemens AG		205,969
	6,191	Smiths Group plc		105,558
	5,400	Tokai Holdings Corp.		35,318
	1,300	Toshiba Corp.		52,881

				2,107,369

Industrial Services (0.0%^†):
	494	Dredging Environmental Marine Engineering NV*		54,349

Insurance (4.1%):
	2,838	Admiral Group plc		77,554
	33,091	Aegon NV		144,208
	3,360	Ageas NV		147,909
	77,240	AIA Group, Ltd.		848,437
	41,090	Alm Brand A/S		60,393
	5,951	ASR Nederland NV		241,919
	7,114	Assicurazioni Generali SpA		113,926
	1,493	AUB Group, Ltd.		18,247
	38,980	Aviva plc		190,403
	10,959	AXA SA		249,006
	999	Baloise Holding AG		164,009
	12,901	Beazley plc		78,946
	4	Brookfield Asset Management Reinsurance Partners, Ltd., Class A		178
	7,384	Chesnara plc		25,218
	2,213	Clal Insurance Enterprises Holdings, Ltd.*		39,603
	5,028	Coface SA		52,556
	4,900	Dai-ichi Life Holdings, Inc.		90,471
	39,884	Direct Line Insurance Group plc		122,226
	82	E-L Financial Corp., Ltd.		50,334
	498	Fairfax Financial Holdings, Ltd.		263,936
	1,054	FBD Holdings plc		10,669
	1,341	Gjensidige Forsikring ASA		27,247
	500	Great Eastern Holdings, Ltd.		7,057
	1,464	Great-West Lifeco, Inc.		35,753
	1,465	Grupo Catalana Occidente SA		45,701
	539	Hannover Rueck SE		78,184
	4,262	Harel Insurance Investments &		41,786
	1,758	Helvetia Holding AG		205,905
	6,718	Hiscox, Ltd.		77,092
	3,319	IA Financial Corp., Inc.		165,099
	506	IDI Insurance Co., Ltd.		13,203
	18,382	Insurance Australia Group, Ltd.		55,334
	1,256	Intact Financial Corp.		177,187
	6,700	Japan Post Holdings Co., Ltd.		47,878
	1,900	Japan Post Insurance Co., Ltd.		30,412
	52,851	Just Group plc		45,899
	7,487	Lancashire Holdings, Ltd.		36,784
	58,863	Legal & General Group plc		171,796
	16,597	Linea Directa Aseguradora SA Cia de Seguros y Reaseguros		21,891
	10,482	Manulife Financial Corp.		181,653
	1,683	Manulife Financial Corp.		29,188
	25,567	Mapfre SA		45,096


Shares			Value
Common Stocks, continued
Insurance, continued
	40,419	Medibank Private, Ltd.	$	90,696
	1,055	Menora Mivtachim Holdings, Ltd.*		19,410
	16,641	Migdal Insurance & Financial Holding, Ltd.		24,830
	2,100	MS&AD Insurance Group Holdings, Inc.		64,393
	702	Muenchener Rueckversicherungs-Gesellschaft AG		164,946
	17,124	NIB Holdings, Ltd.		87,247
	3,574	NN Group NV		163,440
	8,508	Phoenix Group Holdings plc		61,190
	6,171	Phoenix Holdings, Ltd. (The)		61,309
	5,968	Poste Italiane SpA(a)		56,058
	1,147	Protector Forsikring ASA		11,953
	2,817	Prudential plc, ADR		70,735
	18,200	QBE Insurance Group, Ltd.		152,687
	3,005	Sabre Insurance Group plc(a)		7,517
	3,822	Saga plc*		8,290
	5,219	Sampo Oyj, Class A		227,241
	5,815	SCOR SA		125,011
	445	Solid Forsakring AB*		1,738
	2,600	Sompo Holdings, Inc.		114,723
	14,897	Steadfast Group, Ltd.		51,625
	5,818	Storebrand ASA		41,650
	1,421	Sun Life Financial, Inc.		65,121
	3,075	Sun Life Financial, Inc.		140,866
	15,987	Suncorp Group, Ltd.		121,197
	434	Swiss Life Holding AG		211,624
	2,645	Swiss Re AG		205,152
	5,900	T&D Holdings, Inc.		70,526
	974	Talanx AG		37,056
	3,300	Tokio Marine Holdings, Inc.		192,334
	1,470	Topdanmark A/S		76,570
	92	Trisura Group, Ltd.*		2,383
	2,899	Tryg A/S		65,147
	15,269	Unipol Gruppo Finanziario SpA		69,771
	14,182	UnipolSai Assicurazioni SpA		34,059
	5,733	Uniqa Insurance Group AG		40,524
	54	Vaudoise Assurances Holding SA		22,970
	1,638	Vienna Insurance Group AG Wiener Versicherung Gruppe		37,419
	1,796	Wuestenrot & Wuerttembergische AG		31,757
	876	Zurich Insurance Group AG		381,342

				7,942,800

Interactive Media & Services (0.3%):
	13,958	Auto Trader Group plc(a)		94,371
	400	Bengo4.com, Inc.*		11,242
	575	Better Collective A/S*		7,692
	643	carsales Com, Ltd.		8,168
	2,673	carsales.com, Ltd.		33,956
	1,200	Dip Corp.		33,249
	5,418	Domain Holdings Australia, Ltd.		11,264
	2,200	Kakaku.com, Inc.		36,335
	2,000	mixi, Inc.		33,222
	135	New Work SE		19,257
	437	REA Group, Ltd.		33,681
	11,094	Rightmove plc		76,754
	897	Scout24 AG(a)		46,080
	1,561	Seek, Ltd.		22,647


Shares			Value
Common Stocks, continued
Interactive Media & Services, continued
	2,124	Solocal Group*	$	2,139
	6,000	Z Holdings Corp.		17,556

				487,613

Internet & Direct Marketing Retail (0.3%):
	1,600	ASKUL Corp.		19,091
	1,900	Belluna Co., Ltd.		10,440
	621	BHG Group AB*		1,992
	18,446	Boohoo Group plc*		12,466
	1,898	Cazoo Group, Ltd.*		1,367
	264	Delivery Hero SE*(a)		9,895
	4,443	Dustin Group AB(a)		25,458
	2,462	eDreams ODIGEO SA*		13,354
	800	Enigmo, Inc.		2,816
	10,000	Hong Kong Technology Venture Co., Ltd.		7,873
	788	Just Eat Takeaway.com NV*(a)		12,393
	500	Media Do Co., Ltd.		6,174
	22,749	Moneysupermarket.com Group plc		48,207
	6,515	N Brown Group plc*		1,883
	1,100	Oisix ra daichi, Inc.*		13,382
	5,176	On The Beach Group plc*(a)		8,971
	2,438	Prosus NV		161,100
	6,100	Rakuten, Inc.		27,547
	1,817	Takkt AG		28,565
	6,523	Webjet, Ltd.*^		24,065
	1,397	Zalando SE*(a)		36,533
	1,200	ZOZO, Inc.		21,651

				495,223

IT Services (1.6%):
	4,024	Addnode Group AB		32,841
	45	Adyen NV*(a)		66,141
	370	Allgeier SE*		13,064
	597	Alten SA		65,649
	1,611	Amadeus IT Group SA*		90,500
	733	Appen, Ltd.		2,817
	2,661	Atea ASA		27,737
	2,869	Atos SE*		38,496
	180	Aubay		9,133
	1,328	Bechtle AG		54,292
	1,800	Bell System24 Holdings, Inc.		18,391
	1,490	Bouvet ASA		8,927
	171	Cancom SE		5,751
	1,318	Capgemini SA		227,888
	2,724	CGI, Inc.*		216,994
	4,933	Columbus A/S		5,484
	2,733	Computacenter plc		78,122
	5,311	Computershare, Ltd.		90,376
	1,100	Comture Corp.		21,289
	7,824	Data#3, Ltd.		25,109
	500	Densan System Holdings Co., Ltd.		8,349
	500	Digital Garage, Inc.		13,541
	1,400	DTS Corp.		31,135
	8,624	Econocom Group SA/NV		30,160
	2,927	Edenred		138,678
	1,000	E-Guardian, Inc.		20,607
	5,345	EML Payments, Ltd.*		4,497
	558	Enea AB*		6,333


Shares			Value
Common Stocks, continued
IT Services, continued
	3,891	Fdm Group Holdings plc	$	40,408
	348	Formula Systems 1985, Ltd.		31,580
	1,400	Fujitsu, Ltd.		175,267
	800	Future Corp.		8,165
	1,075	GFT Technologies SE		42,643
	6,665	Global Dominion Access SA(a)		28,991
	2,200	GMO Internet, Inc.		37,482
	400	GMO Payment Gateway, Inc.		28,203
	1,200	ID Holdings Corp.		7,309
	4,290	Indra Sistemas SA*		40,923
	1,200	Infocom Corp.		17,999
	900	Information Services Internati		26,462
	2,776	Iomart Group plc		5,860
	1,100	Itochu Techno-Solutions Corp.		26,825
	3,504	Kainos Group plc		47,829
	400	Kanematsu Electronics, Ltd.		11,888
	816	Knowit AB		22,803
	19,489	Link Administration Holdings, Ltd.		50,945
	896	Matrix It, Ltd.		20,875
	300	Mitsubishi Research Institute		9,078
	370	Nagarro SE*		42,011
	7,286	NCC Group plc		16,608
	1,700	NEC Networks & System Integrat		23,002
	1,300	NET One Systems Co., Ltd.		28,778
	5,103	NEXTDC, Ltd.*		37,269
	2,100	Nihon Unisys, Ltd.		41,836
	2,056	Nomura Research Institute, Ltd.		54,762
	800	NS Solutions Corp.		21,363
	2,200	Nsd Co., Ltd.		38,378
	5,500	NTT Data Corp.		75,533
	4,539	Ordina NV		22,653
	1,400	Otsuka Corp.		41,363
	1,200	Poletowin Pitcrew Holdings, Inc.		8,172
	9,052	Pushpay Holdings, Ltd.*		7,136
	2,400	Relia, Inc.		18,945
	209	Reply SpA		25,461
	2,400	SCSK Corp.		40,419
	200	SHIFT, Inc.*		25,798
	650	Shopify, Inc., Class A*		20,306
	219	Societe Pour l’Informatique Industrielle		9,149
	800	Softbank Technology Corp.		12,809
	3,194	Softcat plc		51,203
	678	Sopra Steria Group		102,257
	16,000	Sunevision Holdings, Ltd.		12,199
	1,200	TDC Soft, Inc.		9,392
	1,700	TechMatrix Corp.		21,067
	2,278	Tieto OYJ		56,275
	3,000	TIS, Inc.		78,676
	315	Wavestone		14,514
	2,809	Worldline SA*(a)		103,898

				3,095,068

Leisure Products (0.3%):
	1,100	Bandai Namco Holdings, Inc.		77,729
	1,496	Beneteau SA		15,118
	606	BRP, Inc.		37,302
	1,042	Catana Group		6,813
	891	Games Workshop Group plc		72,491


Shares			Value
Common Stocks, continued
Leisure Products, continued
	1,000	Globeride, Inc.	$	15,702
	72,000	Goodbaby International Holdings, Ltd.*		9,372
	178	Harvia OYJ		5,052
	2,500	Heiwa Corp.		37,110
	500	Mars Group Holdings Corp.		6,083
	1,659	Maytronics, Ltd.		23,537
	562	MIPS AB		24,570
	800	Mizuno Corp.		13,812
	26,132	Photo-Me International plc		24,428
	300	Roland Corp.		8,928
	1,200	Sankyo Co., Ltd.		36,287
	1,700	Sega Sammy Holdings, Inc.		27,311
	300	Shimano, Inc.		50,755
	700	Spin Master Corp.*(a)		22,849
	1,169	Technogym SpA(a)		7,654
	2,105	Thule Group AB (The)(a)		51,803
	3,300	Tomy Co., Ltd.		33,177
	385	Trigano SA		38,121
	700	Universal Entertainment Corp.*		7,503
	500	Yamaha Corp.		20,584

				674,091

Life Sciences Tools & Services (0.4%):
	1,444	Addlife AB, Class B		21,722
	275	Bachem Holding AG, Registered B		19,118
	840	Biotage AB		14,895
	223	Chemometec A/S		23,869
	600	Cmic Holdings Co., Ltd.		6,345
	2,030	Eurofins Scientific SE		160,460
	1,196	Gerresheimer AG		77,730
	335	Lonza Group AG		178,658
	3,092	Qiagen NV*		145,942
	174	Sartorius Stedim Biotech		55,080
	1,600	Shin Nippon Biomedical Laborat		23,353
	97	Siegfried Holding AG		62,045
	153	Tecan Group AG		44,756

				833,973

Machinery (3.6%):
	3,060	Aalberts NV		120,298
	2,600	Aichi Corp.		16,453
	2,100	Aida Engineering, Ltd.		14,084
	781	Alfa Laval AB		18,858
	1,607	Alimak Group AB(a)		12,169
	900	Alinco, Inc.		5,681
	1,780	Alstom SA		40,739
	8,100	Amada Holdings Co., Ltd.		59,586
	2,314	Andritz AG		93,281
	2,000	Anest Iwata Corp.		13,365
	2,700	Asahi Diamond Industrial Co., Ltd.		12,527
	17,476	Atlas Copco AB, Class A*		163,620
	9,476	Atlas Copco AB, Class B*		79,409
	1,149	ATS Automation Tooling Systems, Inc.*		31,560
	1,300	Bando Chemical Industries, Ltd.		8,832
	2,296	Beijer Alma AB		37,842
	183	Bobst Group SA		11,783
	4,886	Bodycote plc		31,326
	243	Bucher Industries AG		85,049


Shares			Value
Common Stocks, continued
Machinery, continued
	66	Burckhardt Compression Holding AG	$	27,695
	56	Bystronic AG		40,730
	459	Cargotec OYJ		12,076
	14,452	CNH Industrial NV		167,712
	1,560	Concentric AB		26,937
	1,110	Construcc y Aux de Ferrocarr SA		32,696
	178	Daetwyler Holding AG		36,810
	700	Daifuku Co., Ltd.		40,097
	6,307	Daimler Truck Holding AG*		164,582
	2,100	Daiwa Industries, Ltd.		17,041
	745	Danieli & C Officine Meccaniche SpA		15,242
	1,585	Danieli & C Officine Meccaniche SpA		22,315
	3,954	Deutz AG		15,246
	4,700	DMG Mori Co., Ltd.		58,274
	694	Duerr AG		15,968
	800	Ebara Corp.		29,990
	4,630	Electrolux Professional AB, Class B		24,919
	2,202	Epiroc AB, Class A		34,056
	1,755	Epiroc AB, Class B		23,749
	200	FANUC Corp.		31,353
	342	Feintool International Holding AG		6,736
	19,282	Fincantieri SpA*^		10,713
	1,579	Fluidra SA		32,041
	13,800	Frencken Group, Ltd.		11,049
	2,000	Fuji Corp.		29,517
	1,700	Furukawa Co., Ltd.		15,021
	1,887	GEA Group AG		65,018
	3,040	Georg Fischer AG		149,776
	371	Gesco AG*		9,292
	2,000	Glory, Ltd.		30,213
	2,253	Haldex AB*		14,435
	600	Harmonic Drive Systems, Inc.^		17,511
	8,175	Heidelberger Druckmaschinen AG*		12,216
	5,448	Hexagon Composites ASA*		14,964
	9,100	Hino Motors, Ltd.		46,794
	500	Hirata Corp.		15,511
	1,200	Hisaka Works, Ltd.		7,408
	1,700	Hitachi Construction Machinery Co., Ltd.		37,695
	9,200	Hitachi Zosen Corp.		57,961
	400	Hoshizaki Corp.		11,935
	1,000	Hosokawa Micron Corp.		19,194
	679	Husqvarna AB, Class A Shares		5,182
	6,964	Husqvarna AB, Class B		51,276
	2,400	IHI Corp.		64,344
	8,589	IMI plc		122,631
	17	Interroll Holding AG, Registered Shares		38,146
	1,300	Iseki & Co., Ltd.		11,247
	3,448	Iveco Group NV*		18,241
	885	JOST Werke AG(a)		33,038
	2,512	Jungheinrich AG		54,712
	197	Kardex Holding AG		32,780
	900	Kato Works Co., Ltd.		5,317
	5,700	Kawasaki Heavy Industries, Ltd.		107,044
	2,612	Kion Group AG		108,316
	400	Kitagawa Iron Works Co., Ltd.		4,077
	1,400	Kito Corp.		27,324
	5,100	Kitz Corp.		23,817


Shares			Value
Common Stocks, continued
Machinery, continued
	637	Knorr-Bremse AG	$	36,337
	572	Koenig & Bauer AG*		8,204
	5,000	Komatsu, Ltd.		111,321
	115	Komax Holding AG		28,221
	2,900	Komori Corp.		17,501
	2,683	Kone Oyj, Class B		128,275
	1,994	Konecranes OYJ		46,477
	362	Krones AG		27,614
	3,000	Kubota Corp.		44,876
	900	Kurita Water Industries, Ltd.		32,741
	1,000	Kyokuto Kaihatsu Kogyo Co., Ltd.		10,602
	1,200	Maezawa Kyuso Industries Co., Ltd.		7,884
	700	Makino Milling Machine Co., Ltd.		21,767
	2,100	Makita Corp.		52,410
	586	Manitou Bf SA		11,002
	800	Max Co., Ltd.		9,506
	1,800	Meidensha Corp.		26,426
	800	Metawater Co., Ltd.		11,872
	9,279	Metso Outotec Oyj		69,641
	4,832	MINEBEA MITSUMI, Inc.		82,398
	1,600	Misumi Group, Inc.		33,773
	1,200	Mitsubishi Heavy Industries, Ltd.		42,008
	1,000	Mitsubishi Logisnext Co., Ltd.		6,419
	700	Mitsuboshi Belting Co., Ltd.		14,583
	2,900	Mitsui Engineering & Shipbuilding Co., Ltd.*		7,193
	1,100	Miura Co., Ltd.		21,774
	12,954	Morgan Advanced Materials plc		43,389
	1,500	Morita Holdings Corp.		14,573
	1,800	Nabtesco Corp.		42,105
	800	Nachi-Fujikoshi Corp.		20,478
	2,000	Namura Shipbuilding Co., Ltd.*		6,095
	1,456	NFI Group, Inc.		15,148
	2,500	NGK Insulators, Ltd.		33,718
	2,300	Nikkiso Co., Ltd.		13,607
	1,267	Nilfisk Holding A/S*		26,949
	3,900	Nippon Thompson Co., Ltd.		14,851
	400	Nissei ASB Machine Co., Ltd.		10,447
	800	Nitta Corp.		16,293
	500	Nitto Kohki Co., Ltd.		5,505
	1,900	Nitto Seiko Co., Ltd.		6,601
	300	Noritake Co., Ltd.		8,918
	995	Norma Group SE		22,208
	7,700	NSK, Ltd.		41,476
	14,800	NTN Corp.*		28,287
	7,984	OC Oerlikon Corp. AG		55,642
	1,700	Oiles Corp.		19,134
	600	Okuma Corp.		22,491
	400	Organo Corp.		25,052
	2,800	OSG Corp.		32,559
	692	Palfinger AG		15,813
	174	Pfeiffer Vacuum Technology AG		27,362
	150	Plasson Industries, Ltd.		7,882
	118	Rational AG		68,601
	70	Rieter Holding AG		8,086
	16,905	Rotork plc		49,540
	1,800	Ryobi, Ltd.		13,758
	9,572	Sandvik AB		155,478


Shares			Value
Common Stocks, continued
Machinery, continued
	364	Schindler Holding AG, Registered Shares	$	65,514
	188,100	SembCorp Marine, Ltd.*		14,682
	564	SFS Group AG		57,045
	100	Shibaura Machine Co., Ltd.		1,949
	1,200	Shima Seiki Manufacturing, Ltd.		18,496
	1,900	Shinmaywa Industries, Ltd.		15,136
	78,000	Singamas Container Holdings, Ltd.		11,937
	2,200	Sintokogio, Ltd.		10,953
	3,528	Skellerup Holdings, Ltd.		11,642
	892	SKF AB		15,450
	9,178	SKF AB, Class B		135,294
	100	SMC Corp.		44,630
	2,300	Sodick Co., Ltd.		13,812
	796	Spirax-Sarco Engineering plc		95,788
	891	Stabilus SA		43,569
	1,600	Star Micronics Co., Ltd.		19,155
	849	Sulzer AG, Registered Shares		52,823
	3,700	Sumitomo Heavy Industries, Ltd.		81,749
	3,900	Tadano, Ltd.		25,697
	900	Takeuchi Manufacturing Co., Ltd.		15,412
	1,300	Takuma Co., Ltd.		12,737
	478	Technotrans SE		13,223
	9,687	Techtronic Industries Co., Ltd.		101,276
	1,500	THK Co., Ltd.		28,201
	2,100	Tocalo Co., Ltd.		19,108
	1,400	Torishima Pump Manufacturing Co., Ltd.		13,228
	3,641	Trelleborg AB		73,486
	1,098	Troax Group AB		19,023
	1,100	Tsubaki Nakashima Co., Ltd.		7,329
	1,400	Tsubakimoto Chain Co.		31,365
	1,800	Tsugami Corp.		14,986
	1,200	Tsukishima Kikai Co., Ltd.		7,717
	600	Tsurumi Manufacturing Co., Ltd.		8,225
	6,627	Valmet Corp.		162,756
	686	VAT Group AG(a)		163,841
	1,074	VBG Group AB, Class B		12,291
	6,862	Vesuvius plc		25,411
	3,392	Volvo AB, Class A		54,669
	25,593	Volvo AB, Class B		396,923
	229	Vossloh AG		7,280
	1,416	Wacker Neuson SE		24,463
	7,232	Wartsila Oyj Abp, Class B		56,370
	560	Washtec AG		26,118
	3,157	Weir Group plc (The)		52,377
	3,000	Yamabiko Corp.		25,337
	29,400	Yangzijiang Shipbuilding Holdings, Ltd.		19,706
	1,700	Yaskawa Electric Corp.		54,836

				6,982,328

Marine (0.6%):
	22	A.P. Moeller — Maersk A/S, Class A		51,019
	30	A.P. Moeller — Maersk A/S, Class B		70,473
	1,600	Algoma Central Corp.		19,941
	3,578	American Shipping Co. ASA		14,954
	556	Clarkson plc		20,370
	1,333	D/S Norden A/S		46,280
	1,307	DFDS A/S		39,654
	945	Golden Ocean Group, Ltd.		11,056


Shares			Value
Common Stocks, continued
Marine, continued
	371	Hapag-Lloyd AG(a)	$	96,066
	3,300	Iino Kaiun Kaisha, Ltd.		16,652
	5,897	Irish Continental Group		21,947
	2,300	Japan Transcity Corp.		8,346
	600	Kawasaki Kisen Kaisha, Ltd.		36,714
	725	Kuehne + Nagel International AG		171,674
	3,600	Mitsui O.S.K. Lines, Ltd.		82,693
	7,091	MPC Container Ships As		14,106
	1,500	Nippon Yusen KK		102,916
	600	NS United Kaiun Kaisha, Ltd.		16,358
	3,500	Orient Overseas International, Ltd.		93,102
	215,000	Pacific Basin Shipping, Ltd.		83,272
	29,000	SITC International Holdings Co., Ltd.		82,173
	1,962	Stolt-Nielsen, Ltd.		41,673
	1,677	Wallenius Wilhelmsen ASA		9,087

				1,150,526

Materials (0.0%^†):
	1,334	Aclara Resources, Inc.*		415

Media (1.3%):
	734	4imprint Group plc		20,736
	3,715	Aimia, Inc.*		13,278
	65	APG SGA SA		11,986
	14,475	Arnoldo Mondadori Editore SpA		26,013
	2,124	Ascential plc*		6,708
	4,886	Atresmedia Corp. de Medios de Comuicacion SA		16,940
	1,951	Bloomsbury Publishing plc		8,989
	701	Cogeco Communications, Inc.		47,425
	400	Cogeco, Inc.		21,212
	5,394	Corus Entertainment, Inc.		14,795
	5,200	Cyberagent, Inc.		51,843
	1,600	Dentsu Group, Inc.		48,100
	3,391	Euromoney Institutional Investor plc		55,504
	7,511	Eutelsat Communications SA		84,845
	1,700	F@n Communications, Inc.		4,827
	2,800	Fuji Media Holdings, Inc.		23,730
	557	Future plc		11,784
	4,700	Hakuhodo DY Holdings, Inc.		43,179
	8,376	HT&E, Ltd.		6,517
	8,773	Hyve Group plc*		7,886
	12,288	Informa plc*		79,177
	2,000	Intage Holdings, Inc.		18,826
	1,711	Ipsos		81,270
	94,559	ITV plc		75,185
	9,582	Ive Group, Ltd.		11,366
	3,011	JCDecaux SA*		50,610
	1,600	Kadokawa Corp.		34,497
	2,312	Kin And Carta plc*		4,938
	1,449	Liberty Global plc, Class A*		30,501
	1,664	M6 Metropole Television SA		24,582
	1,300	Macromill, Inc.		8,606
	8,183	Mediaset Espana Comunicacion SA*		33,637
	10,230	MFE-MediaForEurope NV, Class A*^		4,696
	10,230	MFE-MediaForEurope NV, Class B^		7,211
	1,563	Next Fifteen Communications Group PLC		17,122
	48,195	Nine Entertainment Co. Holdings, Ltd.		60,739
	961	Nordic Entertainment Group AB, Class B*		19,744
	12,519	NOS SGPS SA		50,332


Shares			Value
Common Stocks, continued
Media, continued
	1,307	NRJ Group	$	8,517
	19,083	Ooh!media, Ltd.		15,946
	30	Otello Corp. ASA*		76
	10,294	Pearson plc		94,008
	2,872	Pearson plc, ADR		26,480
	68,000	PICO Far East Holdings, Ltd.		9,749
	2,702	ProSiebenSat.1 Media SE		24,943
	1,300	Proto Corp.		9,761
	3,123	Publicis Groupe SA		154,156
	3,026	Quebecor, Inc., Class B		64,682
	4,571	RAI Way SpA(a)		24,426
	12,118	Reach plc		14,795
	1,406	RTL Group		58,691
	1,116	S4 Capital plc*		3,118
	3,469	Sanoma OYJ		48,311
	214	Schibsted ASA, Class A		3,843
	239	Schibsted ASA, Class B		3,923
	14,211	SES Global, Class A		124,872
	60,999	Seven West Media, Ltd.*		17,240
	7,456	Shaw Communications, Inc.		219,654
	7,455	Sky Network Television, Ltd.*		10,938
	7,900	SKY Perfect JSAT Holdings, Inc.		31,458
	4,175	Societe Television Francaise 1		29,568
	15,013	Southern Cross Media Group, Ltd.		10,304
	1,167	Stroeer SE & Co. KGaA		52,647
	1,900	TBS Holdings, Inc.		23,812
	1,294	Telenet Group Holding NV		26,933
	15,000	Television Broadcasts, Ltd.*		8,250
	1,400	TV Asahi Holdings Corp.		15,262
	500	TV Tokyo Holdings Corp.		7,190
	232	TX Group AG		27,964
	1,000	ValueCommerce Co., Ltd.		23,142
	500	Wowow, Inc.		5,545
	9,140	WPP plc		91,834
	700	Zenrin Co., Ltd.		4,766

				2,436,140

Metals & Mining (5.5%):
	3,860	Acerinox SA*		37,399
	4,870	Agnico Eagle Mines, Ltd.		222,953
	1,039	Agnico Eagle Mines, Ltd.		47,545
	400	Aichi Steel Corp.		6,141
	14,995	Alamos Gold, Inc., Class A		105,210
	7,742	Allkem, Ltd.*		55,091
	25,386	Alumina, Ltd.		25,926
	723	Amg Advanced Metallurgical Group N.V.		18,837
	14,717	Anglo American plc		525,380
	5,620	Antofagasta plc		79,013
	1,842	Aperam SA		51,547
	4,677	ArcelorMittal SA		106,183
	6,800	ArcelorMittal SA, NYS		153,680
	12,400	Argonaut Gold, Inc.*		4,336
	2,200	Asahi Holdings, Inc.		34,540
	16,100	Ascot Resources, Ltd.*		6,255
	85,942	Aurelia Metals, Ltd.*		15,106
	1,613	Aurubis AG		109,451
	25,622	AVZ Minerals, Ltd.*		14,328
	38,815	B2Gold Corp.		131,494


Shares			Value
Common Stocks, continued
Metals & Mining, continued
	10,885	Barrick Gold Corp.	$	192,496
	1,629	Bekaert NV		53,083
	28,371	BHP Group, Ltd.		816,979
	8,146	BHP Group, Ltd., ADR		457,642
	11,697	BlueScope Steel, Ltd.		128,298
	5,425	Boliden AB		172,650
	4,719	Capricorn Metals, Ltd.*		9,998
	10,300	Capstone Copper Corp.*		26,010
	65,537	Centamin plc		62,379
	8,200	Centerra Gold, Inc.		55,622
	4,374	Central Asia Metals plc		11,797
	6,803	Champion Iron, Ltd.		25,813
	16,254	China Gold International Resources Corp., Ltd.		45,339
	1,300	Daido Steel Co., Ltd.		33,517
	1,400	Daiki Aluminium Industry Co., Ltd.		12,337
	11,513	Deterra Royalties, Ltd.		34,100
	1,900	DOWA Mining Co.		63,129
	7,500	Dundee Precious Metals, Inc.		37,354
	4,662	Eldorado Gold Corp.*		29,740
	6,693	Endeavour Mining plc		138,488
	1,907	Equinox Gold Corp.*		8,505
	539	Eramet		56,040
	2,899	Ero Copper Corp.*		24,485
	26,259	Evolution Mining, Ltd.		42,225
	7,778	EVRAZ plc(b)		9
	15,230	Ferrexpo plc		24,183
	2,800	First Majestic Silver Corp.		20,081
	4,500	First Quantum Minerals, Ltd.		85,385
	20,862	Fortescue Metals Group, Ltd.		256,556
	400	Franco-Nevada Corp.		52,625
	4,440	Fresnillo plc		41,432
	8,215	Galiano Gold, Inc.*		3,383
	103,826	Glencore plc		562,524
	1,100	Godo Steel, Ltd.*		10,881
	20,226	Gold Road Resources, Ltd.		15,443
	3,589	Granges AB		26,842
	2,043	Hill & Smith Holdings plc		28,796
	2,300	Hitachi Metals, Ltd.*		34,783
	9,715	Hochschild Mining plc		11,411
	8,995	Hudbay Minerals, Inc.		36,693
	3,880	i-80 Gold Corp.*		6,994
	15,631	IAMGOLD Corp.*		25,141
	14,533	IGO, Ltd.		100,886
	7,176	Iluka Resources, Ltd.		46,685
	14,498	Imdex, Ltd.		18,464
	3,605	Ivanhoe Mines, Ltd., Class A*		20,756
	10,500	JFE Holdings, Inc.		110,462
	50,009	Jupiter Mines, Ltd.		6,813
	42,633	Kinross Gold Corp.		151,716
	10,600	Kobe Steel, Ltd.		48,147
	1,800	Kyoei Steel, Ltd.		18,348
	1,500	Labrador Iron Ore Royalty Corp.		33,042
	14,207	Lucara Diamond Corp.*		6,734
	2,700	Lundin Gold, Inc.*		19,385
	19,726	Lundin Mining Corp.		125,069
	3,551	Lynas Rare Earths, Ltd.*		21,388
	14,393	MACA, Ltd.		6,599


Shares			Value
Common Stocks, continued
Metals & Mining, continued
	48,387	Macmahon Holdings, Ltd.	$	4,506
	1,600	Major Drilling Group International, Inc.*		11,226
	1,400	Maruichi Steel Tube, Ltd.		29,615
	176,000	Midas Holdings, Ltd.*(b)		—
	2,719	Mineral Resources, Ltd.		91,978
	3,300	Mitsubishi Materials Corp.		47,171
	500	Mitsubishi Steel Manufacturing Co., Ltd.		3,478
	2,500	Mitsui Mining & Smelting Co., Ltd.		58,358
	27,183	Mount Gibson Iron, Ltd.		10,120
	2,200	Neturen Co., Ltd.		10,597
	27,410	New Gold, Inc.*		29,178
	11,300	Newcrest Mining, Ltd.		160,651
	1,924	Newcrest Mining, Ltd.		26,974
	19,275	Nickel Industries, Ltd.		12,953
	6,200	Nippon Denko Co., Ltd.		15,869
	2,700	Nippon Light Metal Holdings Co.		29,751
	9,195	Nippon Steel Corp.		128,358
	930	Nippon Yakin Kogyo Co., Ltd.		14,495
	200	Nittetsu Mining Co., Ltd.		7,557
	9,959	Norsk Hydro ASA		56,167
	14,937	Northern Star Resources, Ltd.		68,868
	34,228	OceanaGold Corp.*		65,690
	21,175	OM Holdings, Ltd.		11,148
	500	Osaka Steel Co., Ltd.		5,455
	3,265	Osisko Gold Royalties, Ltd.		32,929
	3,354	Osisko Mining, Inc.*		7,974
	10,428	Outokumpu OYJ		43,180
	10,015	OZ Minerals, Ltd.		122,610
	900	Pacific Metals Co., Ltd.		15,634
	5,017	Pan American Silver Corp.		98,586
	33,353	Perenti Global, Ltd.		15,048
	55,326	Perseus Mining, Ltd.		59,327
	15,210	Pilbara Minerals, Ltd.*		23,985
	23,878	Ramelius Resources, Ltd.		14,095
	38,407	Regis Resources, Ltd.		33,594
	47,236	Resolute Mining, Ltd.*		7,433
	1,698	Rio Tinto plc		101,515
	13,055	Rio Tinto plc, Registered Shares, ADR^		796,355
	5,001	Rio Tinto, Ltd.		358,179
	6,000	Sabina Gold & Silver Corp.*		4,942
	1,335	Salzgitter AG		32,480
	16,356	Sandfire Resources, Ltd.		50,965
	4,142	Sandstorm Gold, Ltd.		24,588
	21,718	Schmolz + Bickenbach AG*		5,411
	1,200	Seabridge Gold, Inc.*		14,872
	32,896	Silver Lake Resources, Ltd.*		26,903
	5,690	Sims, Ltd.		54,856
	46,147	South32, Ltd.		127,361
	6,151	SSAB AB, Class A		26,853
	12,955	SSAB AB, Class B		53,691
	7,749	SSR Mining, Inc.		129,451
	30,000	St. Barbara, Ltd.		15,149
	700	Stelco Holdings, Inc.		17,503
	3,700	Straits Trading Co., Ltd.		7,622
	1,700	Sumitomo Metal & Mining Co., Ltd.		53,283
	26,588	Syrah Resources, Ltd.*		23,051
	5,674	Taseko Mines, Ltd.*		6,216


Shares			Value
Common Stocks, continued
Metals & Mining, continued
	11,838	Teck Cominco, Ltd., Class B	$	362,039
	12,945	ThyssenKrupp AG*		73,433
	1,900	Toho Titanium Co., Ltd.		30,960
	700	Toho Zinc Co., Ltd.		11,091
	300	Tokyo Rope Manufacturing Co. Ltd.		2,056
	2,300	Tokyo Steel Manufacturing Co., Ltd.		25,314
	4,685	Torex Gold Resources, Inc.*		36,184
	969	Trevali Mining Corp.*		350
	3,324	Turquoise Hill Resources, Ltd.*		89,053
	1,500	UACJ Corp.		22,852
	3,908	Voestalpine AG		83,150
	4,200	Wesdome Gold Mines, Ltd.*		36,387
	13,685	West African Resources, Ltd.*		11,211
	14,470	Westgold Resources, Ltd.		11,575
	704	Wheaton Precious Metals Corp.		25,370
	31,047	Yamana Gold, Inc.		144,500
	1,600	Yamato Kogyo Co., Ltd.		52,831
	800	Yodogawa Steel Works, Ltd.		13,288

				10,603,545

Multiline Retail (0.7%):
	16,302	B&M European Value Retail SA		73,027
	1,096	Canadian Tire Corp., Class A		138,299
	2,909	Dollarama, Inc.		167,533
	6,286	Europris ASA(a)		29,449
	3,300	H2O Retailing Corp.		25,584
	15,674	Harvey Norman Holdings, Ltd.		40,160
	6,800	Isetan Mitsukoshi Holdings, Ltd.		55,175
	1,000	Izumi Co., Ltd.		22,531
	6,000	J. Front Retailing Co., Ltd.		51,340
	24,500	Lifestyle International Holdings, Ltd.*		9,933
	73,250	Marks & Spencer Group plc*		121,495
	2,200	Marui Group Co., Ltd.		38,548
	30,000	Metro Holdings, Ltd.		16,323
	47,139	Myer Holdings, Ltd.		10,577
	1,643	Next plc		117,288
	5,300	Pan Pacific International Holdings Corp.		84,636
	6,500	Ryohin Keikaku Co., Ltd.		66,332
	1,000	Seria Co., Ltd.		17,811
	4,800	Takashimaya Co., Ltd.		47,088
	2,195	Tokmanni Group Corp.		25,842
	3,646	Warehouse Group, Ltd. (The)		7,683
	4,918	Wesfarmers, Ltd.		142,317
	4,000	Wing On Company International, Ltd.		8,564

				1,317,535

Multi-Utilities (1.0%):
	2,232	Acea SpA		33,076
	5,356	AGL Energy, Ltd.		30,504
	4,833	Algonquin Power & Utilities Corp.		64,966
	1,505	Atco, Ltd.		51,570
	1,466	Canadian Utilities, Ltd., Class A		43,729
	253,408	Centrica plc*		248,274
	44,319	E.ON SE		371,782
	22,086	Engie Group		256,303
	23,363	Hera SpA		67,804
	11,786	Iren SpA*		25,820
	33,157	ITL AEM SpA		42,252


Shares			Value
Common Stocks, continued
Multi-Utilities, continued
	84,623	Keppel Infrastructure Trust	$	34,736
	2,361	National Grid plc, ADR		152,733
	11,914	Ren — Redes Energeticas Nacion		35,916
	6,785	RWE AG		250,033
	24,600	SembCorp Industries, Ltd.		50,520
	3,114	Telecom Plus plc		74,595
	6,489	Vector, Ltd.		16,926
	5,040	Veolia Environnement SA*		124,671

				1,976,210

Oil, Gas & Consumable Fuels (7.0%):
	9,181	Advantage Energy, Ltd.*		57,069
	24,155	Africa Oil Corp.		38,663
	3,154	Aker BP ASA^		109,053
	3,921	Ampol, Ltd.		92,126
	7,200	Anglo Pacific Group plc		12,693
	22,637	ARC Resources, Ltd.		285,469
	18,809	Athabasca Oil Corp.*		36,390
	2,249	Baytex Energy Corp.*		10,922
	2,064	Baytex Energy Corp.*		10,051
	71,371	Beach Energy, Ltd.		84,475
	17,741	Birchcliff Energy, Ltd.		120,617
	10,317	BP plc		48,584
	24,597	BP plc, ADR		697,325
	173,000	Brightoil Petroleum Holdings, Ltd.*		6,202
	636	BW Energy, Ltd.*		1,660
	2,656	BW LPG, Ltd.(a)		19,731
	22,053	Cairn Energy plc*		58,643
	789	Cameco Corp.		16,589
	1,947	Cameco Corp.		40,926
	7,637	Canacol Energy, Ltd.		14,954
	13,622	Canadian Natural Resources, Ltd.		731,229
	2,732	Canadian Natural Resources, Ltd.		146,832
	3,012	Cardinal Energy, Ltd.		16,921
	14,953	Cenovus Energy, Inc.		284,537
	2,956	Cenovus Energy, Inc.		56,194
	13,100	China Aviation Oil Singapore Corp., Ltd.		8,255
	24,415	Cooper Energy, Ltd.*(b)		4,130
	40,015	Cooper Energy, Ltd.*		6,769
	2,400	Cosmo Energy Holdings Co., Ltd.		66,690
	8,781	Crescent Point Energy		62,521
	7,561	Crescent Point Energy Corp.		53,755
	8,223	Crew Energy, Inc.*		29,518
	854	CropEnergies AG		11,368
	252	Delek Group, Ltd.*		32,576
	20,320	DNO ASA		28,039
	6,087	Enbridge, Inc.		257,101
	79,400	ENEOS Holdings, Inc.		299,779
	1,394	Energean PLC*		18,684
	7,800	Enerplus Corp.		103,091
	29,660	ENI SpA		352,304
	120,434	EnQuest plc*		34,393
	10,152	Equinor ASA		353,299
	1,004	Equital, Ltd.*		31,722
	1,390	Etablissements Maurel et Prom SA*		6,489
	9,112	Euronav NV		109,707
	1,579	Exmar NV		8,381
	1,267	FLEX LNG, Ltd.		35,255


Shares			Value
Common Stocks, continued
Oil, Gas & Consumable Fuels, continued
	3,700	Freehold Royalties, Ltd.^	$	36,626
	1,400	Frontera Energy Corp.*		11,259
	3,784	Frontline, Ltd.*		33,665
	3,100	Fuji Oil Co., Ltd.		7,466
	13,793	Galp Energia SGPS SA		161,659
	891	Gaztransport et Technigaz SA		111,639
	6,249	Genel Energy plc		10,679
	5,650	Gibson Energy, Inc.		104,659
	22,100	Golden Energy Resources, Ltd.*		7,138
	19,607	Gran Tierra Energy, Inc.*		22,547
	14,984	Gulf Keystone Petroleum, Ltd.		47,418
	5,643	Harbour Energy plc		25,006
	6,000	Idemitsu Kosan Co., Ltd.		144,147
	1,132	Imperial Oil, Ltd.		53,372
	14,400	INPEX Corp.		155,436
	2,244	International Petroleum Corp.*		21,429
	2,823	International Petroleum Corp. / Sweden*		27,467
	3,600	Itochu Enex Co., Ltd.		27,884
	1,500	Iwatani Corp.		57,858
	1,000	Japan Petroleum Exploration Co., Ltd.		23,544
	24,713	Karoon Energy, Ltd.*		29,533
	7,300	Kelt Exploration, Ltd.*		34,713
	3,301	Keyera Corp.		75,407
	1,732	Koninklijke Vopak NV		43,901
	2,011	Lundin Energy AB		1,372
	10,707	MEG Energy Corp.*		148,251
	1,700	Mitsuuroko Holdings Co., Ltd.		11,638
	1,502	Naphtha Israel Petroleum Corp.*		9,920
	2,178	Neste Oyj		96,492
	14,065	New Hope Corp., Ltd.		33,914
	7,392	New Zealand Refining Co., Ltd. (The)*		5,310
	64,000	NewOcean Energy Holdings, Ltd.*		326
	21,200	Nippon Coke & Engineering Co., Ltd.		18,118
	7,654	Nuvista Energy, Ltd.*		61,375
	104,047	Oil Refineries, Ltd.		37,375
	2,717	OMV AG		127,578
	41,785	Paladin Energy, Ltd.*		16,690
	1,307	Paramount Resouces, Ltd., Class A		31,218
	5,263	Parex Resources, Inc.		89,148
	5,000	Parkland Corp.		135,820
	300	Paz Oil Co., Ltd.*		36,023
	1,584	Pembina Pipeline Corp.		55,994
	2,501	Pembina Pipeline Corp.		88,419
	6,660	Peyto Exploration & Development Corp.		62,305
	12,892	Pharos Energy plc*		3,448
	5,032	Prairiesky Royalty, Ltd.		63,379
	31,937	Repsol SA		470,201
	1,600	Sala Corp.		8,318
	3,100	San-Ai Oil Co., Ltd.		22,016
	38,505	Santos, Ltd.		196,253
	23,460	Saras SpA*		34,184
	8,575	Serica Energy plc		29,745
	31,089	Shell PLC, ADR		1,625,644
	400	Sinanen Holdings Co., Ltd.		10,059
	15,527	Stobart Group, Ltd.*		1,777
	9,472	Suncor Energy, Inc.		332,183
	9,878	Suncor Energy, Inc.		346,613


Shares			Value
Common Stocks, continued
Oil, Gas & Consumable Fuels, continued
	16,600	Tamarack Valley Energy, Ltd.	$	55,849
	1,817	TC Energy Corp.		94,139
	403	TC Energy Corp.		20,880
	13,400	Tidewater Midstream and Infrastructure, Ltd.		13,639
	1,559	Torm plc*		21,090
	31,387	TotalEnergies SE		1,654,235
	7,730	Tourmaline Oil Corp.		401,996
	64,721	Tullow Oil plc*		36,961
	542	Verbio Vereinigte Bioenergie AG		27,265
	5,883	Vermilion Energy, Inc.		111,992
	24,351	Viva Energy Group, Ltd.(a)		48,916
	17,452	Whitecap Resources, Inc.		121,228
	31,393	Whitehaven Coal, Ltd.		105,905
	2,943	Woodside Energy Group, Ltd., ADR		63,451
	17,225	Woodside Energy Group, Ltd.		377,128

				13,551,913

Paper & Forest Products (0.7%):
	2,718	Altri SGPS SA		18,156
	3,429	Canfor Corp.*		59,814
	600	Daiken Corp.		8,106
	3,000	Daio Paper Corp.		31,311
	8,317	Ence Energia y Celulosa S.A		28,451
	301	Hadera Paper, Ltd.		23,933
	6,700	Hokuetsu Corp.		34,519
	1,316	Holmen AB, B Shares		53,455
	3,427	Interfor Corp.*		69,073
	5,272	Metsa Board OYJ		43,949
	7,998	Mondi plc		141,855
	11,089	Navigator Co. SA (The)		44,591
	4,800	Nippon Paper Industries Co., Ltd.		34,051
	19,700	Oji Holdings Corp.		85,422
	1,998	Stella-Jones, Inc.		50,455
	9,661	Stora Enso Oyj, Class R		151,667
	2,882	Svenska Cellulosa AB SCA, Class B		43,112
	600	Tokushu Tokai Paper Co., Ltd.		13,958
	7,592	UPM-Kymmene Oyj		232,198
	2,454	West Fraser Timber Co., Ltd.		188,331
	24,618	Western Forest Products, Inc.		27,736

				1,384,143

Personal Products (0.7%):
	495	Beiersdorf AG		50,557
	3,201	Best World International, Ltd.*		3,134
	306	Blackmores, Ltd.		14,858
	800	Fancl Corp.		14,648
	167	Interparfums SA		7,907
	1,514	Jamieson Wellness, Inc.(a)		42,126
	3,900	Kao Corp.		157,414
	300	Kobayashi Pharmaceutical Co., Ltd.		18,500
	200	Kose Corp.		18,213
	10,500	L’occitane International SA		32,869
	580	L’Oreal SA		200,366
	1,600	Mandom Corp.		18,801
	400	Milbon Co., Ltd.		14,060
	600	Noevir Holdings Co., Ltd.		25,487
	2,645	Ontex Group NV*		20,698
	1,200	Pola Orbis Holdings, Inc.		14,796


Shares			Value
Common Stocks, continued
Personal Products, continued
	1,600	Rohto Pharmaceutical Co., Ltd.	$	46,262
	800	Shiseido Co., Ltd.		32,146
	12,653	Unilever plc, ADR		579,887
	1,324	Unilever plc		60,250
	1,300	Ya-Man, Ltd.		16,571

				1,389,550

Pharmaceuticals (4.7%):
	3,440	Alk Abello A/S*		59,842
	15,687	Alliance Pharma plc		21,789
	1,963	Almirall SA		21,877
	2,600	Astellas Pharma, Inc.		40,516
	4,345	AstraZeneca plc, ADR		287,074
	491	Aurora Cannabis, Inc.*		649
	1,145	Bausch Health Cos., Inc.*		9,572
	1,200	Bausch Health Cos., Inc.*		10,033
	10,652	Bayer AG, Registered Shares		632,783
	900	Canopy Growth Corp.*		2,559
	3,200	Chugai Pharmaceutical Co., Ltd.		81,904
	900	Daiichi Sankyo Co., Ltd.		22,723
	300	Daito Pharmaceutical Co., Ltd.		6,159
	501	Dechra Pharmaceuticals plc		21,097
	324	Dermapharm Holding SE		16,131
	500	Eisai Co., Ltd.		21,115
	192	Euroapi Sasu*		3,029
	11,707	Faes Farma SA		47,627
	700	Fuji Pharma Co., Ltd.		4,873
	500	Fuso Pharmaceutical Industries. Ltd.		7,910
	1,668	Galenica AG(a)		128,152
	14,120	GlaxoSmithKline plc, ADR		614,644
	6,497	GSK plc		139,677
	5,536	H Lundbeck A/S*		26,936
	1,384	H Lundbeck A/S*		6,643
	3,600	Haw Par Corp., Ltd.		28,492
	4,157	Hikma Pharmaceuticals plc		81,842
	800	Hisamitsu Pharmaceutical Co., Inc.		20,624
	26,202	Indivior plc*		98,668
	943	Ipsen SA		89,012
	900	JCR Pharmaceuticals Co., Ltd.		15,372
	1,000	Kaken Pharmaceutical Co., Ltd.		28,134
	1,000	Kissei Pharmaceutical Co., Ltd.		19,575
	900	Kyowa Kirin Co., Ltd.		20,248
	166	Laboratorios Farmaceuticos Rovi SA		10,224
	98,378	Mayne Pharma Group, Ltd.*		17,248
	271	Merck KGaA		45,733
	400	Mochida Pharmaceutical Co., Ltd.		9,601
	3,200	Nichi-Iko Pharmaceutical Co., Ltd.		8,282
	300	Nippon Shinyaku Co., Ltd.		18,257
	4,379	Novartis AG, ADR		370,157
	11,822	Novartis AG, Registered Shares		1,000,202
	11,360	Novo Nordisk A/S, Class B		1,261,066
	1,700	Ono Pharmaceutical Co., Ltd.		43,650
	4,216	Orion Oyj, Class B		188,286
	1,037	Orion OYJ		46,072
	1,300	Otsuka Holdings Co., Ltd.		46,195
	2,502	Recordati SpA		109,309
	4,734	Roche Holding AG		1,580,588
	163	Roche Holding AG		62,945


Shares			Value
Common Stocks, continued
Pharmaceuticals, continued
	4,419	Sanofi	$	446,811
	7,000	Santen Pharmaceutical Co., Ltd.		54,939
	800	Sawai Group Holdings Co., Ltd.		24,277
	1,300	Seikagaku Corp.		7,823
	500	Shionogi & Co., Ltd.		25,279
	3,200	Sumitomo Dainippon Pharma Co., Ltd.		25,748
	28,320	Sundial Growers, Inc.*		9,235
	800	Taisho Pharmaceutical Holdings Co., Ltd.		31,622
	21,200	Takeda Pharmacuetical Co., Ltd.		595,862
	8,303	Teva Pharmaceutical Industries, Ltd., ADR*		62,439
	800	Torii Pharmaceutical Co., Ltd.		18,937
	1,200	Towa Pharmaceutical Co., Ltd.		21,710
	1,400	Tsumura & Co.		31,442
	951	UCB SA		80,534
	26,000	United Laboratories International Holdings, Ltd.		15,441
	65	Vetoquinol SA		7,958
	1,434	Vifor Pharma AG		248,648
	146	Virbac SA		56,863

				9,220,664

Professional Services (1.8%):
	3,499	Adecco Group AG		119,041
	1,864	AFRY AB		25,617
	6,883	ALS, Ltd.		50,769
	770	Altech Corp.		10,102
	111	Amadeus Fire AG		13,839
	1,825	Applus Services SA		12,630
	200	Baycurrent Consulting, Inc.		53,297
	1,100	Benefit One, Inc.		14,812
	372	Bertrandt AG		13,941
	3,973	Bureau Veritas SA		101,849
	26,624	Capita plc*		8,249
	180	Danel Adir Yeoshua, Ltd.		22,813
	1,445	DKSH Holding, Ltd.		119,371
	900	en Japan, Inc.		11,762
	5,711	Experian plc		167,390
	1,200	FULLCAST Holdings Co., Ltd.		19,195
	900	Funai Soken Holdings, Inc.		14,321
	175	Groupe Crit		10,820
	22,373	Hays plc		30,685
	2,075	Intertek Group plc		106,310
	3,227	Intertrust NV*(a)		64,718
	4,646	IPH, Ltd.		26,182
	300	IR Japan Holdings, Ltd.		4,502
	1,000	Jac Recruitment Co., Ltd.		12,821
	1,497	LifeWorks, Inc.		35,919
	3,994	McMillan Shakespeare, Ltd.		26,834
	1,500	Meitec Corp.		24,199
	4,300	Nihon M&A Center, Inc.		45,811
	3,000	Outsourcing, Inc.		22,921
	8,516	Pagegroup plc		41,452
	1,400	Pasona Group, Inc.		19,425
	2,100	Persol Holdings Co., Ltd.		38,229
	3,572	Randstad NV		174,171
	7,800	Recruit Holdings Co., Ltd.		230,051
	5,236	RELX plc, ADR		141,058
	7,938	RELX plc		214,321
	2,833	Ricardo plc		12,467


Shares			Value
Common Stocks, continued
Professional Services, continued
	3,902	Robert Walters plc	$	22,319
	2,331	RWS Holdings plc		9,812
	77	SGS SA, Registered Shares		176,411
	2,000	SMS Co., Ltd.		39,482
	600	Stantec, Inc.		26,289
	1,621	Stantec, Inc.		70,984
	7,669	SThree plc		33,277
	1,100	Tanseisha Co., Ltd.		6,621
	2,900	Technopro Holdings, Inc.		58,159
	780	Teleperformance		239,918
	2,878	Thomson Reuters Corp.		299,916
	1,065	Tinexta SpA		24,987
	1,100	UT Group Co., Ltd.		18,142
	3,630	Wolters Kluwer NV		353,082

				3,441,293

Real Estate Management & Development (2.4%):
	697	Aedas Homes SA(a)		15,557
	1,700	AEON Mall Co., Ltd.		20,800
	206	AFI Properties, Ltd.		9,945
	1,001	Airport City, Ltd.*		17,170
	2,300	Airport Facilities Co., Ltd.		9,074
	372	Allreal Holding AG		61,721
	1,972	Alony Hetz Properties & Invest		24,856
	492	Alrov Properties And Lodgings, Ltd.		30,536
	700	Altus Group, Ltd.		24,253
	2,393	Amot Investments, Ltd.		14,460
	2,116	Annehem Fastigheter AB*		4,646
	11,406	Aroundtown SA		36,262
	28,100	Ascendas India Trust		23,689
	46,000	Asia Standard International Group, Ltd.		4,356
	1,281	Atrium Ljungberg AB, Class B		16,787
	233	Azrieli Group		16,412
	210	Big Shopping Centers, Ltd.		25,971
	116	Blue Square Real Estate, Ltd.		8,026
	59	Brack Capital Properties NV*		5,914
	3,700	Bukit Sembawang Estates, Ltd.		13,167
	695	CA Immobilien Anlagen AG		22,039
	4,800	Capitaland Investment, Ltd.		13,220
	1,420	Castellum AB		18,270
	626	Catena AB		22,744
	2,946	Cedar Woods Properties, Ltd.		7,578
	18,000	Chinese Estates Holdings, Ltd.*		5,139
	52,000	Chuang’s Consortium International, Ltd.		6,761
	7,300	City Developments, Ltd.		42,872
	1,684	Citycon OYJ		11,437
	16,175	CK Asset Holdings, Ltd.		114,575
	3,803	CLS Holdings plc		9,373
	127	Colliers International Group		13,933
	12,641	Corem Property Group AB, Class B		14,200
	340,000	CSI Properties, Ltd.		8,291
	1,000	Daito Trust Construction Co., Ltd.		86,250
	8,200	Daiwa House Industry Co., Ltd.		191,275
	887	Deutsche Euroshop AG*		20,608
	1,139	Dic Asset AG		12,585
	2,651	Dios Fastigheter AB		18,439
	1,450	DREAM Unlimited Corp.		35,884
	145	Duniec Brothers, Ltd.		7,844


Shares			Value
Common Stocks, continued
Real Estate Management & Development, continued
	34,000	Emperor International Holdings	$	3,592
	7,600	ESR Cayman, Ltd.*(a)		20,569
	2,062	Fabege AB		19,494
	74,718	Far East Consortium International, Ltd.		23,827
	3,102	Fastighets AB Balder, B Shares*		14,883
	862	FastPartner AB, Class A		4,995
	867	FirstService Corp.		105,080
	11,092	Foxtons Group plc		4,435
	16,000	Frasers Property, Ltd.		12,212
	2,231	Gav-Yam Lands Corp., Ltd.		18,591
	1,100	Goldcrest Co., Ltd.		13,961
	17,039	Grainger plc		58,343
	1,873	Grand City Properties SA		25,283
	10,516	Great Eagle Holdings, Ltd.		23,599
	17,100	GuocoLand, Ltd.		19,472
	28,000	Hang Lung Group, Ltd.		53,111
	29,984	Hang Lung Properties, Ltd.		56,911
	1,200	Heiwa Real Estate Co., Ltd.		34,428
	5,154	Helical plc		23,480
	17,706	Henderson Land Development Co., Ltd.		66,646
	37,840	HKR International, Ltd.		13,995
	9,400	Ho Bee Land, Ltd.		18,753
	18,500	Hong Fok Corp., Ltd.		12,867
	8,100	Hongkong Land Holdings, Ltd.		40,731
	2,049	Hufvudstaden AB		22,658
	6,800	Hulic Co., Ltd.		52,677
	11,000	Hysan Development Co., Ltd.		33,139
	8,200	Ichigo, Inc.		18,932
	242	Immobel SA		15,296
	218	Ina Invest Holding AG*		4,344
	1,253	Instone Real Estate Group AG(a)		14,934
	29	Intershop Holdings AG		18,751
	2,000	Invesque, Inc.*		2,460
	164	Investis Holding SA		17,639
	1,643	Israel Canada T.R, Ltd.		6,369
	29,717	IWG plc*		67,753
	25,000	K Wah International Holdings Ltd.		9,214
	1,500	Katitas Co., Ltd.		32,343
	22,225	Kerry Properties, Ltd.		61,796
	2,347	K-fast Holding AB*		4,659
	1,455	Kojamo Oyj		25,104
	26,000	Kowloon Development Co., Ltd.		32,262
	17,100	Lai Sun Development Co., Ltd.*		9,776
	112,800	Landing International Development, Ltd.*		3,176
	44,500	Langham Hospitality Investment		5,481
	944	LEG Immobilien SE		78,249
	7,615	Lend Lease Group		47,902
	883	Lifestyle Communities, Ltd.		8,278
	8,000	Liu Chong Hing Investment, Ltd.		7,521
	4,644	LSL Property Services plc		18,983
	276	Mega Or Holdings, Ltd.		8,323
	463	Melisron, Ltd.*		31,079
	59,000	Mingfa Group International Co., Ltd.*		2,522
	3,100	Mirainovate Co., Ltd.		3,769
	4,800	Mitsubishi Estate Co., Ltd.		69,713
	5,100	Mitsui Fudosan Co., Ltd.		109,763
	9,306	Mivne Real Estate KD, Ltd.		27,230


Shares			Value
Common Stocks, continued
Real Estate Management & Development, continued
	280	Mobimo Holding AG, Registered Shares	$	68,091
	100	Morguard Corp.		8,469
	28,087	New World Development Co., Ltd.		101,386
	1,539	Nexity SA		41,449
	800	Nippon Commercial Development Co., Ltd.		11,934
	1,700	Nisshin Group Holdings Co., Ltd.		5,517
	2,200	Nomura Real Estate Holdings, Inc.		53,959
	3,463	Nyfosa AB		25,926
	17,900	Oue, Ltd.		16,497
	54,608	Oxley Holdings, Ltd.		6,650
	25,655	Pacific Century Premium Developments, Ltd.*		1,637
	522	PATRIZIA AG		6,165
	1,195	Platzer Fastigheter Holding AB, Class B		7,743
	222	Prashkovsky Investments And Construction, Ltd.		6,948
	779	PSP Swiss Property AG		86,677
	700	Raysum Co., Ltd.		5,779
	3,244	Real Matters, Inc.*		12,805
	2,300	Relo Group, Inc.		37,126
	914	Sagax AB, Class B		16,889
	7,058	Samhallsbyggnadsbolaget i Norden AB^		11,773
	1,200	SAMTY Co., Ltd.		17,842
	5,801	Savills plc		71,511
	1,875	Selvaag Bolig ASA		6,778
	2,600	Shinoken Group Co., Ltd.		18,731
	795	Shurgard Self Storage SA		37,045
	100,800	Sinarmas Land, Ltd.		14,369
	50,839	Sino Land Co., Ltd.		75,081
	11,926	Sirius Real Estate, Ltd.		12,951
	5,000	Soundwill Holdings, Ltd.		4,340
	200	SRE Holdings Corp.*		3,365
	1,800	Starts Corp., Inc.		37,006
	2,500	Sumitomo Realty & Development Co., Ltd.		66,087
	1,493	Summit Real Estate Holdings, Ltd.		23,899
	1,800	Sun Frontier Fudousan Co., Ltd.		14,842
	5,921	Sun Hung Kai Properties, Ltd.		70,063
	10,646	Swire Pacific, Ltd., Class A		63,971
	17,500	Swire Pacific, Ltd., Class B		17,578
	8,600	Swire Properties, Ltd.		21,381
	2,374	Swiss Prime Site AG		208,382
	2,596	TAG Immobilien AG		29,614
	21,000	TAI Cheung Holdings, Ltd.		11,993
	4,200	Takara Leben Co., Ltd.		11,152
	2,900	Toc Co., Ltd.		15,381
	6,400	Tokyo Tatemono Co., Ltd.		88,229
	17,000	Tokyu Fudosan Holdings Corp.		89,553
	2,400	Tosei Corp.		22,304
	4,220	Tricon Residential, Inc.		42,790
	213	UBM Development AG		7,662
	7,900	UOL Group, Ltd.		41,889
	193	VGP NV		30,770
	3,672	Vonovia SE		113,145
	3,836	Wallenstam AB*		16,791
	6	Warteck Invest AG		13,710
	6,203	Watkin Jones plc		16,616
	9,829	Wharf Real Estate Investment Co., Ltd.		46,860
	4,068	Wihlborgs Fastigheter AB		28,489


Shares			Value
Common Stocks, continued
Real Estate Management & Development, continued
	20,700	Wing Tai Holdings, Ltd.	$	25,945
	16,000	Wing Tai Properties, Ltd.		8,218
	148	YH Dimri Construction & Development, Ltd.		11,341
	17	Zug Estates Holding AG		35,443

				4,654,809

Road & Rail (1.2%):
	52,525	Aurizon Holdings, Ltd.		138,000
	3,054	Canadian National Railway Co.		343,483
	1,007	Canadian Pacific Railway, Ltd.^		70,329
	600	Central Japan Railway Co.		69,276
	1,200	Chilled & Frozen Logistics Holdings Co., Ltd.		9,373
	41,300	ComfortDelGro Corp., Ltd.		41,666
	789	DSV A/S		110,493
	1,300	East Japan Railway Co.		66,525
	16,195	FirstGroup plc*		25,122
	1,200	Fukuyama Transporting Co., Ltd.		27,269
	3,244	Go-Ahead Group plc*		62,831
	1,000	Hamakyorex Co., Ltd.		21,137
	2,400	Hankyu Hanshin Holdings, Inc.		65,504
	600	Hitachi Transport System, Ltd.		37,740
	1,100	Ichinen Holdings Co., Ltd.		9,922
	206	Jungfraubahn Holding AG, Registered Shares*		27,616
	2,500	Keikyu Corp.		27,417
	700	Keio Corp.		25,071
	1,200	Keisei Electric Railway Co., Ltd.		33,109
	1,500	Kintetsu Group Holdings Co., Ltd.		46,681
	1,000	Kyushu Railway Co.		20,856
	400	Maruzen Showa Unyu Co., Ltd.		9,013
	7,711	MTR Corp., Ltd.		40,301
	4,500	Mullen Group, Ltd.		39,475
	2,300	Nagoya Railroad Co., Ltd.		35,453
	1,600	Nankai Electric Railway Co., Ltd.		31,721
	13,705	National Express Group plc*		32,443
	2,200	Nikkon Holdings Co., Ltd.		34,908
	1,800	Nippon Express Holdings Co., Ltd.		97,853
	1,300	Nishi-Nippon Railroad Co., Ltd.		27,818
	147	NTG Nordic Transport Group A/S*		5,249
	2,000	Odakyu Electric Railway Co., Ltd.		26,928
	11,036	Redde Northgate plc		45,310
	500	Sakai Moving Service Co., Ltd.		16,723
	2,300	Sankyu, Inc.		66,180
	4,500	Seino Holdings Co., Ltd.		36,049
	6,400	Senko Group Holdings Co., Ltd.		41,441
	483	Sixt SE		30,231
	368	Sixt SE		37,739
	1,000	Sotetsu Holdings, Inc.		17,310
	278	Stef S.A.		24,118
	1,298	TFI International, Inc.		104,213
	1,500	Tobu Railway Co., Ltd.		34,306
	3,400	Tokyu Corp.		40,075
	300	Tonami Holdings Co., Ltd.		7,776
	3,913	Tourism Holdings, Ltd.*		5,664
	400	Trancom Co., Ltd.		20,145
	15,330	Transport International Holdings, Ltd.		23,123
	1,600	West Japan Railway Co.		58,904

				2,269,889


Shares			Value
Common Stocks, continued
Semiconductors & Semiconductor Equipment (1.7%):
	1,500	Advantest Corp.	$	79,713
	9,500	Aem Holdings, Ltd.		28,378
	7,502	ams AG*		67,682
	276	ASM International NV		69,690
	9,019	ASM Pacific Technology, Ltd.		76,809
	2,411	ASML Holding NV, NYS		1,147,347
	1,796	BE Semiconductor Industries NV		86,469
	25,000	BOE Varitronix, Ltd.		51,259
	300	Disco Corp.		70,681
	185	Elmos Semiconductor SE		7,055
	1,700	Ferrotec Holdings Corp.		31,879
	438	First Sensor AG		24,601
	5,554	Infineon Technologies AG		134,361
	2,200	Japan Material Co., Ltd.		31,451
	500	Lasertec Corp.		59,045
	500	Megachips Corp.		11,645
	879	Melexis NV		62,901
	800	Mimasu Semiconductor Industry		12,331
	500	Mitsui High-Tec, Inc.		31,080
	473	Nordic Semiconductor ASA*		7,423
	241	Nova Measuring Instruments, Ltd.*		21,219
	1,100	Optorun Co., Ltd.		14,610
	9,700	Renesas Electronics Corp.*		87,525
	700	ROHM Co., Ltd.		48,484
	300	Rorze Corp.		18,558
	900	Sanken Electric Co., Ltd.		31,290
	500	SCREEN Holdings Co., Ltd.		33,537
	300	Shindengen Electric Manufacturing Co., Ltd.		7,506
	1,100	Shinko Electric Industries Co., Ltd.		28,164
	992	Siltronic AG		73,669
	162	Soitec*		23,290
	5,416	STMicroelectronics NV		172,166
	409	SUESS MicroTec SE		5,789
	4,600	SUMCO Corp.		59,200
	1,000	Tokyo Electron, Ltd.		324,411
	800	Tokyo Seimitsu Co., Ltd.		26,148
	1,000	Towa Corp.		12,725
	2,902	Tower Semiconductor, Ltd.*		134,014
	1,200	Tri Chemical Laboratories, Inc.		19,266
	144	u-blox Holding AG*		14,554
	1,000	Ulvac, Inc.		33,738
	24,700	UMS Holdings, Ltd.		19,706
	1,200	Yamaichi Electronics Co., Ltd.		14,969

				3,316,338

Software (0.9%):
	1,800	Access Co., Ltd.*		9,866
	1,000	Altium, Ltd.		18,596
	50	Atoss Software AG		6,338
	1,040	AVEVA Group plc		28,414
	4,889	BlackBerry, Ltd.*		26,363
	10,573	Bravura Solutions, Ltd.		10,329
	4,900	Broadleaf Co., Ltd.		15,946
	3,501	Bytes Technology Group PLC		17,830
	500	Computer Engineering & Consulting, Ltd.		4,221
	101	Constellation Software, Inc.		149,960
	464	Crayon Group Holding ASA*(a)		5,935
	1,400	Cresco, Ltd.		19,414


Shares			Value
Common Stocks, continued
Software, continued
	1,200	Cybozu, Inc.	$	8,236
	1,150	Dassault Systemes SE		42,605
	564	Descartes Systems Group, Inc.*		35,002
	300	Digital Arts, Inc.		12,861
	1,000	Enghouse Systems, Ltd.		22,090
	1,966	F-Secure Oyj*		10,300
	400	Fuji Soft, Inc.		22,895
	8,509	Hansen Technology, Ltd.		30,549
	690	Hilan, Ltd.		36,496
	3,100	Infomart Corp.		8,501
	16,011	Infomedia, Ltd.		18,459
	7,858	Integrated Research, Ltd.*^		2,275
	3,230	IRESS, Ltd.		25,677
	600	Justsystems Corp.		16,882
	200	Kinaxis, Inc.*		21,594
	570	Lectra		20,885
	172	Linedata Services		7,335
	1,195	Magic Software Enterprises, Ltd.		21,019
	8,235	Micro Focus International plc, ADR		27,752
	500	Miroku Jyoho Service Co., Ltd.		4,388
	1,498	Nemetschek SE		90,659
	340	Netcompany Group A/S*(a)		18,609
	145	Nice, Ltd.*		27,963
	400	OBIC Business Consultants Co., Ltd.		13,691
	3,485	Open Text Corp.		131,872
	200	Open Text Corp.		7,566
	400	Oracle Corp.		23,104
	65	QT Group Oyj*		4,802
	900	Rakus Co., Ltd.		10,633
	7,104	Sage Group plc (The)		54,934
	1,413	SAP SE		128,710
	1,391	SimCorp A/S		101,119
	949	Sinch AB*(a)		3,079
	1,484	Software AG		49,167
	500	SRA Holdings		10,185
	8,400	Systena Corp.		24,422
	1,774	TeamViewer AG*(a)		17,654
	8,525	Technology One, Ltd.		63,075
	1,295	Temenos AG		110,541
	1,900	Trend Micro, Inc.		92,497
	12,001	Vista Group International, Ltd.*		12,667
	568	WiseTech Global, Ltd.		14,730
	423	Xero, Ltd.*		22,501

				1,743,193

Specialty Retail (1.4%):
	400	ABC-Mart, Inc.		17,701
	16,866	Accent Group, Ltd.		14,421
	10,695	Adairs, Ltd.		14,096
	1,300	Adastria Co., Ltd.		21,474
	900	Alpen Co., Ltd.		13,415
	2,600	Aoki Holdings, Inc.		13,368
	2,800	Aoyama Trading Co., Ltd.		18,634
	3,236	AP Eagers, Ltd.		21,726
	2,500	Autobacs Seven Co., Ltd.		25,772
	613	Autocanada, Inc.*		11,698
	2,300	BIC Camera, Inc.		19,877
	4,193	Bilia AB, Class A		60,444


Shares			Value
Common Stocks, continued
Specialty Retail, continued
	3,245	Byggmax Group AB	$	16,864
	2,609	Carasso Motors, Ltd.		12,745
	16,294	Card Factory plc*		9,158
	3,919	Ceconomy AG		10,923
	800	Chiyoda Co., Ltd.		4,566
	18,000	Chow Sang Sang Holdings International, Ltd.		20,084
	31,200	Chow Tai Fook Jewellery Group, Ltd.		58,706
	1,435	Clas Ohlson AB, Class B		14,846
	4,700	DCM Holdings Co., Ltd.		35,971
	860	Delek Automotive Systems, Ltd.		9,380
	39,375	Dixons Carphone plc		32,638
	291	Dor ALON Energy In Israel 1988, Ltd.		10,483
	2,720	Dufry AG, Registered Shares*		88,123
	4,536	Dunelm Group plc		45,327
	3,700	Edion Corp.		34,730
	115,950	Esprit Holdings, Ltd.*		20,891
	400	Fast Retailing Co., Ltd.		209,207
	995	Fielmann AG		49,523
	878	Fnac Darty SA		37,441
	7,248	Frasers Group plc*		59,207
	2,300	Geo Holdings Corp.		20,947
	130,000	Giordano International, Ltd.		30,786
	10,860	Halfords Group plc		18,997
	7,439	Hennes & Mauritz AB, Class B^		88,986
	200	Hikari Tsushin, Inc.		20,521
	634	Hornbach Holding AG & Co. KGaA		52,081
	4,500	Hour Glass, Ltd. The		7,521
	2,800	Idom, Inc.		15,361
	5,629	Industria de Diseno Textil SA		127,464
	3,564	JB Hi-Fi, Ltd.		94,666
	40,720	JD Sports Fashion plc*		57,260
	700	JINS Holdings, Inc.		21,998
	1,500	Joshin Denki Co., Ltd.		21,508
	900	Joyful Honda Co., Ltd.		10,513
	26,469	Kathmandu Holdings, Ltd.		18,153
	1,700	Keiyo Co., Ltd.		11,371
	744	Kid ASA(a)		6,317
	43,202	Kingfisher plc		128,467
	900	Kohnan Shoji Co., Ltd.		24,292
	1,600	Komeri Co., Ltd.		31,112
	5,800	K’s Holding Corp.		56,528
	1,766	Leon’s Furniture, Ltd.		21,584
	19,046	Lookers plc		17,262
	14,000	Luk Fook Holdings International, Ltd.		35,967
	531	Maisons du Monde SA(a)		5,324
	2,347	Matas A/S		24,530
	1,681	Mekonomen AB		18,100
	2,955	Mobilezone Holding AG		51,581
	234	Musti Group OYJ		4,178
	600	Nextage Co., Ltd.		10,340
	3,966	Nick Scali, Ltd.		22,622
	1,900	Nishimatsuya Chain Co., Ltd.		20,023
	600	Nitori Co., Ltd.		56,969
	1,800	Nojima Corp.		37,390
	28,290	Oriental Watch Holdings		16,595
	76,677	Pendragon plc*		19,676
	19,618	Pets At Home Group plc		73,752


Shares			Value
Common Stocks, continued
Specialty Retail, continued
	2,736	Premier Investments, Ltd.	$	36,416
	600	Shimamura Co., Ltd.		52,679
	800	Sleep Country Canada Holdings, Inc.(a)		14,931
	8,071	Super Retail Group, Ltd.		47,328
	3,968	Superdry plc*		6,477
	900	T-Gaia Corp.		10,738
	2,400	USS Co., Ltd.		41,493
	240	Valora Holding AG		41,532
	13,891	Vertu Motors plc		9,133
	8,200	VT Holdings Co., Ltd.		29,146
	3,649	Watches of Switzerland Group plc*(a)		34,198
	1,871	WHSmith plc*		32,040
	8,059	Wickes Group plc		16,271
	300	Workman Co., Ltd.		11,732
	800	World Co., Ltd.		8,068
	700	Xebio Holdings Co., Ltd.		4,773
	2,913	XXL ASA(a)		1,752
	15,400	Yamada Holdings Co., Ltd.		55,643
	800	Yellow Hat, Ltd.		10,136

				2,798,667

Technology Hardware, Storage & Peripherals (0.5%):
	3,000	Brother Industries, Ltd.		52,791
	4,400	Canon, Inc.		100,115
	700	EIZO Corp.		19,464
	1,800	Elecom Co., Ltd.		20,235
	1,300	FUJIFILM Holdings Corp.		69,816
	16,000	Konica Minolta, Inc.		53,456
	3,181	Logitech International SA, Class R		165,603
	1,323	Logitech International SA, Class R		68,888
	1,900	Maxell Holdings, Ltd.		18,470
	4,000	Mcj Co., Ltd.		25,870
	3,200	NEC Corp.		124,423
	12,000	PC Partner Group, Ltd.		10,930
	1,935	Quadient		33,030
	7,800	Ricoh Co., Ltd.		60,684
	600	Roland Dg Corp.		14,254
	2,197	S&T AG^		32,364
	7,600	Seiko Epson Corp.		107,641
	900	Toshiba Tec Corp.		28,820
	4,400	Wacom Co., Ltd.		27,276

				1,034,130

Textiles, Apparel & Luxury Goods (1.9%):
	1,176	Adidas AG		207,959
	3,137	Aritzia, Inc.*		84,945
	2,300	Asics Corp.		41,632
	1,383	Brunello Cucinelli SpA		62,675
	4,693	Burberry Group plc		93,868
	364	Calida Holding AG		15,543
	408	Canada Goose Holdings, Inc.*		7,348
	600	Canada Goose Holdings, Inc.*		10,825
	2,481	Cie Financiere Richemont SA		264,258
	35,102	Coats Group plc		26,601
	485	Delta-Galil Industries, Ltd.		23,945
	1,167	EssilorLuxottica SA		176,493
	280	Fox Wizel, Ltd.		31,992
	3,031	Gildan Activewear, Inc.		87,256


Shares			Value
Common Stocks, continued
Textiles, Apparel & Luxury Goods, continued
	1,142	Gildan Activewear, Inc.	$	32,867
	400	Goldwin, Inc.		22,444
	900	Gunze, Ltd.		24,426
	189	Hermes International SA		213,488
	2,296	Hugo Boss AG		121,250
	1,500	Japan Wool Textile Co., Ltd. (The)		10,895
	504	Kering		261,820
	700	Kurabo Industries, Ltd.		10,026
	1,705	LVMH Moet Hennessy Louis Vuitton SA		1,052,062
	1,945	Moncler SpA		84,008
	2,592	New Wave Group AB		34,530
	5,000	Onward Holdings Co., Ltd.		9,369
	12,688	Ovs SpA(a)		20,832
	44,000	Pacific Textiles Holdings, Ltd.		17,618
	2,544	Pandora A/S		160,791
	5,300	Prada SpA		29,741
	1,502	Puma SE		98,904
	687	Salvatore Ferragamo SpA		10,657
	2,100	Sankyo Seiko Co., Ltd.		9,836
	500	Sanyo Shokai, Ltd.*		3,585
	1,000	Seiren Co., Ltd.		14,897
	17,500	Stella International Holdings, Ltd.		16,741
	942	Swatch Group AG (The)		41,862
	539	Swatch Group AG (The), Class B		127,919
	2,999	Ted Baker plc*		2,775
	60,000	Texwinca Holdings, Ltd.		11,328
	404	Tod’s SpA*		12,665
	3,200	Tsi Holdings Co., Ltd.		8,159
	5,500	Unitika, Ltd.*		9,413
	377	Van de Velde NV		13,614
	2,000	Wacoal Holdings Corp.		31,632
	33,514	Yue Yuen Industrial Holdings, Ltd.		43,696

				3,699,190

Thrifts & Mortgage Finance (0.2%):
	1,484	Aareal Bank AG*		49,447
	1,900	Aruhi Corp.		14,179
	3,618	Deutsche Pfandbriefbank AG(a)		32,555
	830	EQB, Inc.		34,277
	1,100	Firm Capital Mortgage Investment Corp.		9,837
	900	First National Financial Corp.		23,154
	16,190	Genworth Mortgage Insurance AU		25,679
	2,112	Home Capital Group, Inc.		39,975
	3	Hypothekarbank Lenzburg AG		12,763
	4,912	MyState, Ltd.		13,833
	9,478	OSB Group plc		55,993
	10,978	Paragon Banking Group plc		65,419
	3,600	Timbercreek Financial Corp.		22,238

				399,349

Tobacco (0.7%):
	12,168	British American Tobacco plc		521,401
	18,912	Imperial Brands plc, Class A		422,630
	10,800	Japan Tobacco, Inc.		186,832
	3,118	Scandinavian Tobacco Group A/S(a)		61,116
	7,177	Swedish Match AB		73,325

				1,265,304


Shares			Value
Common Stocks, continued
Trading Companies & Distributors (2.0%):
	3,367	AddTech AB, Class B	$	43,986
	1,000	Alconix Corp.		9,464
	1,271	Alligo AB, Class B		12,310
	3,638	Ashtead Group plc		152,590
	653	BayWa AG		28,943
	2,058	Beijer Ref AB		28,188
	1,271	Bergman & Beving AB		13,322
	8,100	BOC Aviation, Ltd.(a)		68,248
	313	Bossard Holding AG		60,650
	2,847	Brenntag AG		185,269
	1,375	Bufab AB		35,675
	4,067	Bunzl plc		134,659
	70,000	China Strategic Holdings, Ltd.*		334
	500	Chori Co., Ltd.		7,209
	400	Daiichi Jitsugyo Co., Ltd.		9,823
	1,457	Diploma plc		39,512
	4,000	Doman Building Materials Group, Ltd.		19,487
	13,124	Electrocomponents plc		138,925
	2,293	Ferguson plc		256,706
	5,100	Finning International, Inc.		107,350
	7,815	Grafton Group plc		73,931
	1,700	Hanwa Co., Ltd.		35,683
	700	Hardwoods Distribution, Inc.		15,371
	15,263	Howden Joinery Group plc		112,671
	1,085	IMCD NV		149,880
	1,800	Inaba Denki Sangyo Co., Ltd.		35,391
	1,800	Inabata & Co., Ltd.		29,422
	2,319	Indutrade AB		42,370
	12,500	Itochu Corp.		338,111
	616	Jacquet Metals SA		10,620
	500	Japan Pulp & Paper Co., Ltd.		14,065
	700	Kamei Corp.		5,426
	900	Kanaden Corp.		6,758
	1,700	Kanamoto Co., Ltd.		24,137
	3,100	Kanematsu Corp.		30,617
	2,972	Kloeckner & Co. SE		22,659
	7,500	Marubeni Corp.		67,712
	1,500	Mitani Corp.		16,736
	4,700	Mitsubishi Corp.		139,777
	5,400	Mitsui & Co., Ltd.		119,265
	1,271	Momentum Group AB*		7,459
	3,600	MonotaRo Co., Ltd.		53,552
	4,300	Nagase & Co., Ltd.		59,128
	600	Nichiden Corp.		8,372
	500	Nippon Steel Trading Corp.		18,771
	1,200	Nishio Rent All Co., Ltd.		23,876
	1,132	Oem International AB		7,243
	700	Onoken Co., Ltd.		7,222
	1,494	Reece, Ltd.		14,221
	9,256	Rexel SA		142,501
	1,992	Richelieu Hardware, Ltd.		52,129
	1,404	Russel Metals, Inc.		28,385
	207	Scope Metals Group, Ltd.		9,068
	600	Senshu Electric Co., Ltd.		21,314
	2,458	Seven Group Holdings, Ltd.		28,281
	6,300	Sojitz Corp.		89,544
	409	Solar A/S		34,962


Shares			Value
Common Stocks, continued
Trading Companies & Distributors, continued
	17,864	Speedy Hire plc	$	9,426
	6,600	Sumitomo Corp.		90,282
	117	Thermador Groupe		10,582
	2,072	Toromont Industries, Ltd.		167,563
	4,000	Toyota Tsushu Corp.		130,769
	7,192	Travis Perkins plc		85,362
	1,000	Trusco Nakayama Corp.		12,661
	800	Wajax Corp.		12,500
	2,700	Wakita & Co., Ltd.		23,796
	2,700	Yamazen Corp.		19,757
	800	Yuasa Trading Co., Ltd.		19,795

				3,831,773

Transportation Infrastructure (0.4%):
	242	Aena SME SA*(a)		30,773
	260	Aeroports de Paris*		33,119
	874	Atlantia SpA		20,510
	9,330	Atlas Arteria, Ltd.		51,853
	8,117	Auckland International Airport, Ltd.*		36,338
	671	Flughafen Zuerich AG*		101,529
	1,124	Fraport AG*		48,880
	2,198	Getlink SE		38,923
	1,618	Hamburger Hafen und Logistik AG		22,899
	182,200	Hutchison Port Holdings Trust		42,869
	1,940	James Fisher & Sons plc*		6,875
	400	Japan Airport Terminal Co., Ltd.*		15,967
	2,600	Kamigumi Co., Ltd.		50,364
	1,400	Mitsubishi Logistics Corp.		33,511
	400	Nissin Corp.		4,682
	5,399	Port of Tauranga, Ltd.		20,943
	32,939	Qube Holdings, Ltd.		62,089
	5,500	SATS, Ltd.*		15,460
	2,100	Sumitomo Warehouse Co., Ltd. (The)		31,011
	10,150	Transurban Group		100,776
	1,941	Westshore Terminals Investment Corp.		48,186

				817,557

Water Utilities (0.1%):
	4,740	Pennon Group plc		55,135
	2,187	Severn Trent plc		72,408
	45,000	Siic Environment Holdings, Ltd.		6,967
	5,391	United Utilities Group plc		66,951

				201,461

Wireless Telecommunication Services (1.4%):
	1,292	1&1 AG		24,382
	14,353	Airtel Africa plc(a)		23,634
	3,670	Cellcom Israel, Ltd.*		18,157
	5,583	Freenet AG		138,471
	88,000	Hutchison Telecommunications Holdings, Ltd.		16,833
	15,000	KDDI Corp.		474,394
	8,812	Millicom International Cellular SA, SDR*^		125,877
	1,000	Okinawa Cellular Telephone Co.		39,888
	1,324	Orange Belgium SA*		24,867
	5,106	Partner Communications Co.*		36,429
	1,708	Rogers Communications, Inc., Class B		81,813
	1,900	Rogers Communications, Inc., Class B		91,058
	35,000	Smartone Telecommunications Ho		18,473


Shares or Principal Amount			Value
Common Stocks, continued
Wireless Telecommunication Services, continued
	9,900	Softbank Corp.	$	109,896
	19,200	SoftBank Group Corp.		742,119
	21,800	StarHub, Ltd.		19,317
	10,728	Tele2 AB		122,300
	378,549	Vodafone Group plc		583,867

				2,691,775

	Total Common Stocks (Cost $190,581,177)			191,687,726

Preferred Stocks (0.3%):
Automobiles (0.3%):
	635	Bayerische Motoren Werke AG (BMW), 8.61%, 5/15/20		44,979
	1,645	Porsche Automobil Holding SE, 4.06%, 5/20/20		108,798
	2,865	Volkswagen AG, 5.93%, 5/8/20		382,523

				536,300

Household Products (0.0%^†):
	947	Henkel AG & Co. KGaA, 3.15%, 4/21/20		58,327

	Total Preferred Stocks (Cost $755,196)			594,627

Rights (0.0%^†):
Construction & Engineering (0.0%^†):
	2,002	Fomento de Construcciones y Contratas SA, Expires on 7/5/22*		719
	21	Shikun & Binui, Ltd., Expires on 7/6/22*		125

				844

Energy Equipment & Services (0.0%^†):
	320	Saipem Spa RTS, Expires on 7/12/22*^		422

Independent Power and Renewable Electricity Producers (0.0%^†):
	501	Greenvolt-Energias Renovaveis SA, Expires on 7/5/22*		133

Interactive Media & Services (0.0%^†):
	642	carsales Com, Ltd., Expires on 7/14/22*		284

Oil, Gas & Consumable Fuels (0.0%^†):
	16,006	Cooper Energy, Ltd. RTS, Expires on 7/8/22*		—

Real Estate (0.0%^†):
	1,302	Immofinanz AG RTS, Expires on 1/2/23*		—

	Total Rights (Cost $64,895)			1,683

Short-Term Security Held as Collateral for Securities on Loan (1.5%):
	2,998,904	BlackRock Liquidity FedFund, Institutional Class , 0.19%(c)(d)		2,998,904

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $2,998,904)			2,998,904

Unaffiliated Investment Company (0.1%):
Money Markets (0.1%):
	315,107	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(d)		315,107

	Total Unaffiliated Investment Company (Cost $315,107)			315,107

	Total Investment Securities (Cost $194,715,279) — 100.6%			195,598,047
	Net other assets (liabilities) — (0.6)%			(1,258,437	)

	Net Assets — 100.0%		$	194,253,017

The following represents the concentrations by country of risk (based on the domicile of the security issuer) relative to the total value of investments as of June 30, 2022:


Country	Percentage
Australia		6.4	%
Austria		0.5	%
Belgium		1.2	%
Bermuda		0.1	%
Cambodia		—	%^†
Canada		11.5	%
Cayman Islands		—	%^†
China		0.1	%
Colombia		—	%^†
Denmark		2.3	%
Egypt		—	%^†
European Community		—	%^†
Faroe Islands		—	%^†
Finland		1.5	%
France		7.1	%
Germany		6.5	%
Hong Kong		2.5	%
India		—	%^†
Ireland		1.0	%
Isle of Man		0.1	%
Israel		1.1	%


Country	Percentage
Italy		2.0	%
Japan		22.0	%
Jersey		—	%^†
Liechtenstein		—	%^†
Luxembourg		0.5	%
Macau		—	%^†
Malta		—	%^†
Mexico		—	%^†
Netherlands		4.2	%
New Zealand		0.4	%
Norway		0.8	%
Peru		—	%^†
Portugal		0.3	%
Singapore		1.1	%
Spain		2.4	%
Sweden		2.7	%
Switzerland		7.9	%
United Arab Emirates		—	%^†
United Kingdom		12.0	%
United States		1.8	%

		100.0	%

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	194,715,279

Investment securities, at value(a)	$	195,598,047
Cash		1,648
Interest and dividends receivable		311,899
Foreign currency, at value (cost $752,647)		753,714
Receivable for investments sold		281,001
Reclaims receivable		987,636
Prepaid expenses		632

Total Assets		197,934,577

Liabilities:
Payable for investments purchased		468,452
Payable for collateral received on loaned securities		2,998,904
Manager fees payable		125,436
Administration fees payable		28,873
Distribution fees payable		41,812
Custodian fees payable		5,372
Administrative and compliance services fees payable		134
Transfer agent fees payable		579
Trustee fees payable		1,158
Other accrued liabilities		10,840

Total Liabilities		3,681,560

Net Assets	$	194,253,017

Net Assets Consist of:
Paid in capital	$	162,520,508
Total distributable earnings		31,732,509

Net Assets	$	194,253,017

Shares of beneficial interest (unlimited number of shares authorized, no par value)		19,163,311
Net Asset Value (offering and redemption price per share)	$	10.14

(a)	Includes securities on loan of $2,698,081.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Dividends	$	5,314,279
Interest		1,428
Income from securities lending		16,251
Foreign withholding tax		(476,119	)

Total Investment Income		4,855,839

Expenses:
Management fees		1,058,279
Administration fees		45,742
Distribution fees		278,494
Custodian fees		38,422
Administrative and compliance services fees		1,365
Transfer agent fees		2,728
Trustee fees		5,395
Professional fees		4,338
Shareholder reports		1,409
Other expenses		21,175

Total expenses		1,457,347
Less Management fees contractually waived		(222,797	)

Net expenses		1,234,550

Net Investment Income/(Loss)		3,621,289

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities and foreign currencies		6,783,170
Change in net unrealized appreciation/depreciation on securities and foreign currencies		(52,700,310	)

Net realized and Change in net unrealized gains/losses on investments		(45,917,140	)

Change in Net Assets Resulting From Operations	$	(42,295,851	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services — Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL DFA International Core Equity Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

The Fund may own shares of real estate investment trusts (“REITs”) which report information on the source of their distributions annually. Certain distributions received from REITs during the period, which are known to be a return of capital, are recorded as a reduction to the cost of the individual REIT. A REIT may focus on particular types of projects, such as apartment complexes or shopping centers, or on particular geographic regions, or both. An investment in a REIT may be subject to certain risks similar to those associated with direct ownership of real estate, including: declines in the value of real estate; risks related to general and local economic conditions, overbuilding and competition; increases in property taxes and operating expenses; and variations in rental income.

Income received by the Fund from sources within foreign countries may be subject to withholding and other income or similar taxes imposed by such countries. The Fund accrues such taxes, as applicable, based on its current interpretation of tax rules in the foreign markets in which it invests.

Expenses directly attributable to the Fund are charged directly to the Fund, while expenses attributable to more than one Fund are allocated among the respective Funds based upon relative net assets or some other reasonable method. Expenses which are attributable to more than one Trust are allocated across the Allianz Variable Insurance Products Trust,

Allianz Variable Insurance Products Fund of Funds Trust and AIM ETF Products Trust based upon relative net assets or another reasonable basis. Allianz Investment Management LLC (the “Manager”), serves as the investment manager for the Trust, Allianz Variable Insurance Products Fund of Funds Trust and AIM ETF Products Trust.

To generate additional income, the Fund may lend up to 33¹⁄₃% of its assets pursuant to agreements requiring that the loan be continuously secured by any combination of cash, U.S. government or U.S. government agency securities, equal initially to at least 102% of the fair value plus accrued interest on the securities loaned (105% for foreign securities). The borrower of securities is at all times required to post collateral to the Fund in an amount equal to 100% of the fair value of the securities loaned based on the previous day’s fair value of the securities loaned, marked-to-market daily. Any collateral shortfalls are adjusted the next business day. The Fund bears all of the gains and losses on such investments. The Fund receives payments from borrowers equivalent to the dividends and interest that would have been earned on securities lent while simultaneously seeking to earn income on the investment of cash collateral received. In extremely low interest rate environments, the broker rebate fee may exceed the interest earned on the cash collateral which would result in a loss to the Fund. The investment of cash collateral deposited by the borrower is subject to inherent market risks such as interest rate risk, credit risk, liquidity risk, and other risks that are present in the market, and as such, the value of these investments may not be sufficient, when liquidated, to repay the borrower when the loaned security is returned. There may be risks of delay in recovery of the securities or even loss of rights in the collateral should the borrower of the securities fail financially. However, loans will be made only to borrowers, such as broker-dealers, banks or institutional borrowers of securities, deemed by the Manager to be of good standing and credit worthy and when in its judgment, the consideration which can be earned currently from such securities loans justifies the attendant risks. Loans are subject to termination by the Trust or the borrower at any time, and are, therefore, not considered to be illiquid investments. Securities on loan at June 30, 2022 are presented on the Fund’s Schedule of Portfolio Investments.

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $1,608 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $2,998,904 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $199,636,211. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

During the year ended December 31, 2021, the Fund utilized $973,492 in capital loss carry forwards (“CLCFs”) to offset capital gains.

As of the end of its tax year ended December 31, 2021, the Fund had no remaining CLCFs.

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had multiple shareholder accounts which are affiliated with the Manager representing ownership in excess of 80% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

As a shareholder of the AZL DFA U.S. Core Equity Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Shares			Value
Common Stocks (99.6%):
Aerospace & Defense (1.6%):
	1,210	AAR Corp.*	$	50,626
	2,468	Aerojet Rocketdyne Holdings, Inc.*		100,201
	358	AeroVironment, Inc.*		29,428
	712	Astronics Corp.*		7,241
	415	Astronics Corp., Class B*		3,988
	908	Axon Enterprise, Inc.*		84,598
	3,878	Boeing Co. (The)*		530,200
	2,720	BWX Technologies, Inc.		149,845
	685	CPI Aerostructures, Inc.*		1,158
	914	Curtiss-Wright Corp.		120,703
	625	Ducommun, Inc.*		26,900
	1,727	General Dynamics Corp.		382,099
	569	HEICO Corp.		74,607
	769	HEICO Corp., Class A		81,037
	2,189	Hexcel Corp.		114,507
	5,511	Howmet Aerospace, Inc.		173,321
	904	Huntington Ingalls Industries, Inc.		196,909
	2,947	Kratos Defense & Security Solutions, Inc.*		40,904
	1,062	L3harris Technologies, Inc.		256,685
	3,238	Lockheed Martin Corp.		1,392,211
	1,378	Mercury Systems, Inc.*		88,647
	913	Moog, Inc., Class A		72,483
	343	National Presto Industries, Inc.		22,515
	1,155	Northrop Grumman Corp.		552,748
	953	Park Aerospace Corp., Class C		12,160
	1,871	Parsons Corp.*		75,626
	10,908	Raytheon Technologies Corp.		1,048,368
	2,800	Textron, Inc.		170,996
	521	TransDigm Group, Inc.*		279,605
	337	Vectrus, Inc.*		11,276

				6,151,592

Air Freight & Logistics (0.8%):
	2,159	Air Transport Services Group, Inc.*		62,028
	464	Atlas Air Worldwide Holdings, Inc.*		28,634
	2,301	C.H. Robinson Worldwide, Inc.		233,252
	2,787	Expeditors International of Washington, Inc.		271,621
	3,416	FedEx Corp.		774,441
	619	Forward Air Corp.		56,923
	1,805	GXO Logistics, Inc.*		78,102
	766	Hub Group, Inc., Class A*		54,340
	3,266	Radiant Logistics, Inc.*		24,234
	8,651	United Parcel Service, Inc., Class B		1,579,154
	2,834	XPO Logistics, Inc.*		136,486

				3,299,215

Airlines (0.3%):
	2,670	Alaska Air Group, Inc.*		106,934
	229	Allegiant Travel Co.*		25,898
	9,299	American Airlines Group, Inc.*^		117,911
	841	Copa Holdings SA, Class A*		53,294
	9,886	Delta Air Lines, Inc.*		286,397
	1,057	Hawaiian Holdings, Inc.*		15,126
	9,359	JetBlue Airways Corp.*		78,335
	1,602	SkyWest, Inc.*		34,042
	5,986	Southwest Airlines Co.*		216,214
	2,445	Spirit Airlines, Inc.*		58,289
	3,464	United Airlines Holdings, Inc.*		122,695

				1,115,135


Shares			Value
Common Stocks, continued
Auto Components (0.4%):
	2,780	Adient plc*	$	82,371
	4,269	American Axle & Manufacturing Holdings, Inc.*		32,145
	1,883	Aptiv plc*		167,719
	2,666	Autoliv, Inc.		190,806
	6,004	BorgWarner, Inc.		200,353
	1,256	Cooper-Standard Holdings, Inc.*		6,267
	3,513	Dana, Inc.		49,428
	687	Dorman Products, Inc.*		75,371
	798	Fox Factory Holding Corp.*		64,271
	6,025	Gentex Corp.		168,519
	799	Gentherm, Inc.*		49,866
	6,635	Goodyear Tire & Rubber Co. (The)*		71,061
	1,365	Horizon Global Corp.*		2,225
	578	LCI Industries		64,667
	1,505	Lear Corp.		189,464
	3,637	Modine Manufacturing Co.*		38,298
	1,190	Motorcar Parts of America, Inc.*		15,613
	856	Patrick Industries, Inc.		44,375
	2,366	QuantumScape Corp.*^		20,324
	616	Standard Motor Products, Inc.		27,714
	587	Stoneridge, Inc.*		10,067
	275	Strattec Security Corp.*		9,116
	1,349	Tenneco, Inc.*		23,149
	517	Visteon Corp.*		53,551

				1,656,740

Automobiles (1.2%):
	31,520	Ford Motor Co.		350,818
	19,415	General Motors Co.*		616,620
	4,049	Harley-Davidson, Inc.		128,191
	5,057	Tesla, Inc.*		3,405,485
	1,289	Thor Industries, Inc.		96,327
	729	Winnebago Industries, Inc.		35,400

				4,632,841

Banks (5.3%):
	859	1st Source Corp.		38,999
	504	ACNB Corp.		14,964
	954	Allegiance Bancshares, Inc.		36,023
	661	American National Bankshares, Inc.		22,877
	1,776	Ameris Bancorp		71,360
	704	Ames National Corp.		15,615
	1,015	Arrow Financial Corp.		32,287
	3,325	Associated Banc-Corp.		60,715
	2,280	Atlantic Union Bankshares Corp.		77,338
	2,056	Banc of California, Inc.		36,227
	646	BancFirst Corp.		61,829
	2,831	Bancorp, Inc. (The)*		55,261
	52,973	Bank of America Corp.		1,649,049
	1,028	Bank of Hawaii Corp.		76,483
	724	Bank of Marin Bancorp		23,009
	1,592	Bank of NT Butterfield & Son, Ltd. (The)		49,654
	3,554	Bank OZK		133,382
	2,950	BankUnited, Inc.		104,931
	1,129	Banner Corp.		63,461
	433	Bar Harbor Bankshares		11,197
	842	BCB Bancorp, Inc.		14,339
	1,898	Berkshire Hills Bancorp, Inc.		47,013


Shares			Value
Common Stocks, continued
Banks, continued
	1,565	BOK Financial Corp.	$	118,283
	2,707	Brookline Bancorp, Inc.		36,030
	977	Byline BanCorp, Inc.		23,253
	74	C&F Financial Corp.		3,402
	4,719	Cadence Bank		110,802
	843	Camden National Corp.		37,134
	489	Capital City Bank Group, Inc.		13,638
	2,132	Cathay General Bancorp		83,468
	1,225	CBTX, Inc.		32,573
	1,402	Central Pacific Financial Corp.		30,073
	933	Central Valley Community Bancorp		13,528
	377	Chemung Financial Corp.		17,719
	14,399	Citigroup, Inc.		662,210
	943	Citizens & Northern Corp.		22,792
	7,241	Citizens Financial Group, Inc.		258,431
	552	Citizens Holding Co.		10,102
	365	City Holding Co.		29,156
	938	Civista Bancshares, Inc.		19,942
	735	CNB Financial Corp.		17,780
	85	Codorus Valley Bancorp, Inc.		1,913
	56	Colony Bankcorp, Inc.		845
	2,267	Columbia Banking System, Inc.		64,950
	3,274	Comerica, Inc.		240,246
	3,042	Commerce Bancshares, Inc.		199,707
	1,393	Community Bank System, Inc.		88,149
	517	Community Trust Bancorp, Inc.		20,907
	1,154	ConnectOne Bancorp, Inc.		28,215
	1,311	Cullen/Frost Bankers, Inc.		152,666
	1,643	Customers Bancorp, Inc.*		55,698
	4,350	CVB Financial Corp.		107,923
	1,876	Dime Community Bancshares, Inc.		55,623
	1,065	Eagle Bancorp, Inc.		50,492
	3,269	East West Bancorp, Inc.		211,831
	4,884	Eastern Bankshares, Inc.		90,159
	820	Enterprise Financial Services Corp.		34,030
	682	Equity Bancshares, Inc.		19,887
	312	Evans Bancorp, Inc.		10,605
	8,341	F.N.B. Corp.		90,583
	1,329	Farmers National Banc Corp.		19,935
	1,408	FB Financial Corp.		55,222
	9,314	Fifth Third Bancorp		312,950
	1,053	Financial Institutions, Inc.		27,399
	6,611	First BanCorp		85,348
	814	First Bancorp, Inc. (The)		24,526
	1,262	First Bancorp/Southern Pines NC		44,044
	611	First Bancshares, Inc. (The)		17,475
	1,378	First Busey Corp.		31,487
	664	First Business Financial Services, Inc.		20,710
	363	First Citizens BancShares, Inc., Class A		237,322
	2,520	First Commonwealth Financial Corp.		33,818
	512	First Community Bankshares		15,058
	3,105	First Financial Bancorp		60,237
	3,432	First Financial Bankshares, Inc.		134,775
	536	First Financial Corp.		23,852
	733	First Financial Northwest, Inc.		11,391
	1,155	First Foundation, Inc.		23,654
	1,512	First Hawaiian, Inc.		34,338


Shares			Value
Common Stocks, continued
Banks, continued
	12,573	First Horizon Corp.	$	274,846
	3,226	First Interstate BancSystem, Inc., Class A		122,943
	1,606	First Merchants Corp.		57,206
	660	First Mid Bancshares, Inc.		23,542
	1,573	First of Long Island Corp. (The)		27,575
	1,741	First Republic Bank		251,052
	2,253	Flushing Financial Corp.		47,899
	5,044	Fulton Financial Corp.		72,886
	769	German American Bancorp, Inc.		26,284
	3,614	Glacier Bancorp, Inc.		171,376
	397	Great Southern Bancorp, Inc.		23,248
	2,782	Hancock Whitney Corp.		123,326
	2,408	Hanmi Financial Corp.		54,036
	1,642	HarborOne Bancorp, Inc.		22,643
	45	Hawthorn Bancshares, Inc.		1,140
	1,853	Heartland Financial USA, Inc.		76,974
	1,197	Heritage Financial Corp.		30,117
	2,010	Hertiage Commerce Corp.		21,487
	2,750	Hilltop Holdings, Inc.		73,315
	4,922	Home Bancshares, Inc.		102,230
	484	Hometrust Bancshares, Inc.		12,100
	4,470	Hope BanCorp, Inc.		61,865
	1,071	Horizon Bancorp, Inc.		18,657
	17,788	Huntington Bancshares, Inc.		213,990
	1,236	Independent Bank Corp.		98,175
	855	Independent Bank Corp.		16,484
	1,169	Independent Bank Group, Inc.		79,387
	1,836	International Bancshares Corp.		73,587
	31,004	JPMorgan Chase & Co.		3,491,360
	13,247	KeyCorp		228,246
	1,465	Lakeland Bancorp, Inc.		21,418
	582	Lakeland Financial Corp.		38,656
	552	Landmark Bancorp, Inc.		13,988
	712	LCNB Corp.		10,644
	1,274	Live Oak Bancshares, Inc.		43,176
	2,795	M&T Bank Corp.		445,495
	2,571	Macatawa Bank Corp.		22,728
	472	Mercantile Bank Corp.		15,080
	241	Midland States BanCorp, Inc.		5,794
	638	MidWestone Financial Group, Inc.		18,961
	702	National Bank Holdings Corp.		26,866
	514	National Bankshares, Inc.		16,140
	1,264	NBT Bancorp, Inc.		47,514
	373	Nicolet Bankshares, Inc.*		26,983
	510	Northrim Bancorp, Inc.		20,533
	511	Norwood Financial Corp.		12,397
	2,292	OFG Bancorp		58,217
	440	Ohio Valley Banc Corp.		13,279
	9,356	Old National Bancorp		138,375
	2,225	Old Second Bancorp, Inc.		29,770
	550	Origin Bancorp, Inc.		21,340
	638	Orrstown Financial Services, Inc.		15,420
	2,518	Pacific Premier Bancorp, Inc.		73,626
	2,447	PacWest Bancorp		65,237
	467	Park National Corp.		56,624
	1,165	Peapack-Gladstone Financial Corp.		34,600
	546	Penns Woods Bancorp, Inc.		12,607


Shares			Value
Common Stocks, continued
Banks, continued
	608	Peoples Bancorp of North Carolina, Inc.	$	16,513
	1,117	Peoples Bancorp, Inc.		29,712
	1,752	Pinnacle Financial Partners, Inc.		126,687
	3,044	PNC Financial Services Group, Inc. (The)		480,252
	1,986	Popular, Inc.		152,783
	432	Preferred Bank Los Angeles		29,385
	707	Primis Financial Corp.		9,636
	2,191	Prosperity Bancshares, Inc.		149,580
	606	QCR Holdings, Inc.		32,718
	487	Rbb BanCorp		10,066
	13,669	Regions Financial Corp.		256,294
	1,373	Renasant Corp.		39,556
	917	Republic Bancorp, Inc., Class A		44,245
	869	S&T Bancorp, Inc.		23,837
	148	Salisbury Bancorp, Inc.		6,989
	1,366	Sandy Spring Bancorp, Inc.		53,370
	1,366	Seacoast Banking Corp of Florida		45,133
	1,110	ServisFirst Bancshares, Inc.		87,601
	1,113	Shore Bancshares, Inc.		20,590
	1,028	Sierra Bancorp		22,338
	784	Signature Bank		140,501
	3,102	Simmons First National Corp., Class A		65,949
	950	Southside Bancshares, Inc.		35,549
	1,770	SouthState Corp.		136,555
	527	Stock Yards Bancorp, Inc.		31,525
	557	Summit Financial Group, Inc.		15,473
	702	SVB Financial Group*		277,283
	3,723	Synovus Financial Corp.		134,214
	1,633	Texas Capital Bancshares, Inc.*		85,961
	490	Tompkins Financial Corp.		35,329
	2,209	TowneBank		59,974
	820	TriCo Bancshares		37,425
	1,001	Triumph BanCorp, Inc.*		62,623
	9,462	Truist Financial Corp.		448,783
	1,695	Trustmark Corp.		49,477
	14,586	U.S. Bancorp		671,248
	1,375	UMB Financial Corp.		118,388
	6,312	Umpqua Holdings Corp.		105,852
	3,681	United Bankshares, Inc.		129,093
	1,942	United Community Banks, Inc.		58,629
	1,190	United Security Bancshares		9,068
	42	Unity Bancorp, Inc.		1,112
	850	Univest Financial Corp.		21,624
	9,343	Valley National Bancorp		97,261
	690	Veritex Holdings, Inc.		20,189
	501	Washington Trust Bancorp		24,233
	4,942	Webster Financial Corp.		208,305
	31,628	Wells Fargo & Co.		1,238,869
	1,645	WesBanco, Inc.		52,163
	1,062	West BanCorp, Inc.		25,849
	685	Westamerica BanCorp		38,127
	2,129	Western Alliance Bancorp		150,307
	1,524	Wintrust Financial Corp.		122,149
	3,716	Zions Bancorp		189,144

				20,713,259

Beverages (1.5%):
	145	Boston Beer Co., Inc. (The), Class A*		43,931
	1,105	Brown-Forman Corp., Class A		74,742


Shares			Value
Common Stocks, continued
Beverages, continued
	3,136	Brown-Forman Corp., Class B	$	220,022
	374	Celsius Holdings, Inc.*		24,407
	29,204	Coca-Cola Co. (The)		1,837,224
	179	Coca-Cola Consolidated, Inc.		100,938
	919	Constellation Brands, Inc., Class C		214,182
	4,758	Keurig Dr Pepper, Inc.		168,385
	615	MGP Ingredients, Inc.		61,555
	3,243	Molson Coors Brewing Co., Class B		176,776
	2,382	Monster Beverage Corp.*		220,811
	1,621	National Beverage Corp.		79,332
	15,698	PepsiCo, Inc.		2,616,229

				5,838,534

Biotechnology (2.5%):
	18,635	AbbVie, Inc.		2,854,137
	2,144	ACADIA Pharmaceuticals, Inc.*		30,209
	3,964	Adverum Biotechnologies, Inc.*		4,757
	436	Agios Pharmaceuticals, Inc.*		9,666
	7,184	Akebia Therapeutics, Inc.*		2,537
	1,908	Alector, Inc.*		19,385
	1,012	Alkermes plc*		30,147
	2,313	Allogene Therapeutics, Inc.*		26,368
	471	Alnylam Pharmaceuticals, Inc.*		68,695
	4,988	Amgen, Inc.		1,213,580
	955	AnaptysBio, Inc.*		19,387
	990	Arcus Biosciences, Inc.*		25,087
	1,907	Atara Biotherapeutics, Inc.*		14,856
	1,428	Biogen, Inc.*		291,226
	835	Biohaven Pharmaceutical Holding Co., Ltd.*		121,668
	2,087	BioMarin Pharmaceutical, Inc.*		172,950
	1,469	Bluebird Bio, Inc.*		6,082
	1,208	Blueprint Medicines Corp.*		61,016
	723	CareDx, Inc.*		15,530
	1,101	Celldex Therapeutics, Inc.*		29,683
	718	Concert Pharmaceuticals, Inc.*		3,023
	906	CRISPR Therapeutics AG*		55,058
	1,534	Denali Therapeutics, Inc.*		45,146
	233	Eagle Pharmaceuticals, Inc.*		10,352
	1,370	Editas Medicine, Inc.*		16,207
	1,656	Emergent BioSolutions, Inc.*		51,402
	585	Enanta Pharmaceuticals, Inc.*		27,653
	1,700	Exact Sciences Corp.*		66,963
	6,966	Exelixis, Inc.*		145,032
	567	Fate Therapeutics, Inc.*^		14,050
	522	Fibrogen, Inc.*		5,512
	1,432	G1 Therapeutics, Inc.*^		7,074
	14,500	Gilead Sciences, Inc.		896,245
	852	Global Blood Therapeutics, Inc.*		27,221
	2,867	Halozyme Therapeutics, Inc.*		126,148
	1,961	Incyte Corp.*		148,977
	961	Intellia Therapeutics, Inc.*		49,741
	1,964	Ionis Pharmaceuticals, Inc.*		72,707
	2,315	Iovance Biotherapeutics, Inc.*		25,558
	2,568	Ironwood Pharmaceuticals, Inc.*		29,609
	275	Karuna Therapeutics, Inc.*		34,790
	200	Kodiak Sciences, Inc.*		1,528
	1,263	Kura Oncology, Inc.*		23,151
	757	Kymera Therapeutics, Inc.*^		14,905


Shares			Value
Common Stocks, continued
Biotechnology, continued
	340	Ligand Pharmaceuticals, Inc.*	$	30,335
	1,449	Macrogenics, Inc.*		4,275
	194	Madrigal Pharmaceuticals, Inc.*		13,887
	710	Mirati Therapeutics, Inc.*		47,662
	4,559	Moderna, Inc.*		651,253
	2,351	Myriad Genetics, Inc.*		42,718
	715	Neurocrine Biosciences, Inc.*		69,698
	10,235	OPKO Health, Inc.*		25,895
	9,565	PDL BioPharma, Inc.*(a)		23,243
	1,720	Prothena Corp. plc*		46,698
	1,210	Regeneron Pharmaceuticals, Inc.*		715,267
	895	REGENXBIO, Inc.*		22,107
	440	Repligen Corp.*		71,456
	1,053	Rhythm Pharmaceuticals, Inc.*^		4,370
	1,042	Rocket Pharmaceuticals, Inc.*		14,338
	1,793	Sage Therapeutics, Inc.*		57,914
	2,916	Sangamo Therapeutics, Inc.*		12,072
	660	Sarepta Therapeutics, Inc.*		49,474
	1,210	Seagen, Inc.*		214,097
	2,126	Spectrum Pharmaceuticals, Inc.*		1,658
	602	SpringWorks Therapeutics, Inc.*		14,821
	874	Travere Therapeutics, Inc.*		21,177
	1,104	Ultragenyx Pharmaceutical, Inc.*		65,865
	882	United Therapeutics Corp.*		207,834
	1,179	Vanda Pharmaceuticals, Inc.*		12,851
	1,880	Vertex Pharmaceuticals, Inc.*		529,765
	1,246	Xencor, Inc.*		34,103

				9,919,851

Building Products (0.8%):
	2,754	A O Smith Corp.		150,589
	1,062	AAON, Inc.		58,155
	1,573	Advanced Drainage Systems, Inc.		141,680
	1,795	Allegion plc		175,730
	515	American Woodmark Corp.*		23,180
	1,085	Apogee Enterprises, Inc.		42,554
	1,537	Armstrong World Industries, Inc.		115,214
	3,106	AZEK Co., Inc. (The)*		51,994
	4,473	Builders FirstSource, Inc.*		240,200
	8,116	Carrier Global Corp.		289,417
	3,362	Cornerstone Building Brands, Inc.*		82,335
	547	Csw Industrials, Inc.		56,357
	2,444	Fortune Brands Home & Security, Inc.		146,347
	715	Gibraltar Industries, Inc.*		27,706
	1,993	Griffon Corp.		55,864
	1,209	Insteel Industries, Inc.		40,707
	2,135	JELD-WEN Holding, Inc.*		31,150
	3,721	Johnson Controls International plc		178,161
	617	Lennox International, Inc.		127,466
	2,484	Masco Corp.		125,690
	681	Masonite International Corp.*		52,321
	2,995	Owens Corning		222,558
	1,379	PGT Innovations, Inc.*		22,947
	1,160	Quanex Building Products Corp.		26,390
	3,728	Resideo Technologies, Inc.*		72,398
	1,119	Simpson Manufacturing Co., Inc.		112,583
	1,488	Trane Technologies plc		193,247
	1,485	Trex Co., Inc.*		80,814


Shares			Value
Common Stocks, continued
Building Products, continued
	1,914	UFP Industries, Inc.	$	130,420
	2,409	Zurn Water Solutions Corp.		65,621

				3,139,795

Capital Markets (2.8%):
	837	Affiliated Managers Group, Inc.		97,594
	1,953	Ameriprise Financial, Inc.		464,189
	1,834	Ares Management Corp., Class A		104,281
	1,585	Artisan Partners Asset Management, Inc., Class A		56,378
	734	B Riley Financial, Inc.		31,012
	6,009	Bank of New York Mellon Corp. (The)		250,635
	9,837	BGC Partners, Inc., Class A		33,151
	1,088	BlackRock, Inc., Class A		662,636
	4,929	Blackstone, Inc., Class A		449,673
	2,377	Blucora, Inc.*		43,879
	902	Brightsphere Investment Group, Inc.		16,245
	1,257	Cboe Global Markets, Inc.		142,280
	7,675	Charles Schwab Corp. (The)		484,907
	1,955	CME Group, Inc.		400,189
	1,396	Cohen & Steers, Inc.		88,772
	190	Diamond Hill Investment Group		32,992
	1,791	Donnelley Financial Solutions, Inc.*		52,458
	475	FactSet Research Systems, Inc.		182,671
	3,404	Federated Hermes, Inc., Class B		108,213
	5,820	Franklin Resources, Inc.		135,664
	388	GAMCO Investors, Inc., Class A		8,109
	3,511	Goldman Sachs Group, Inc. (The)		1,042,837
	255	Greenhill & Co., Inc.		2,351
	569	Hamilton Lane, Inc.		38,225
	211	Hennessy Advisors, Inc.		2,203
	1,585	Houlihan Lokey, Inc.		125,104
	693	Interactive Brokers Group, Inc., Class A		38,122
	2,995	Intercontinental Exchange, Inc.		281,650
	9,972	Invesco, Ltd.		160,848
	4,134	Janus Henderson Group plc		97,190
	4,821	KKR & Co., Inc., Class A		223,164
	2,997	Lazard, Ltd., Class A^		97,133
	1,018	LPL Financial Holdings, Inc.		187,801
	337	MarketAxess Holdings, Inc.		86,275
	1,075	Moelis & Co., Class A		42,301
	1,496	Moody’s Corp.		406,867
	13,808	Morgan Stanley		1,050,236
	806	Morningstar, Inc.		194,915
	583	MSCI, Inc.		240,283
	2,070	Nasdaq, Inc.		315,758
	2,692	Northern Trust Corp.		259,724
	365	Oppenheimer Holdings, Inc., Class A		12,060
	613	Piper Sandler Cos.		69,490
	394	PJT Partners, Inc.		27,690
	1,113	Pzena Investment Management, Inc.		7,335
	2,737	Raymond James Financial, Inc.		244,715
	2,264	S&P Global, Inc.		763,104
	3,335	SEI Investments Co.		180,157
	660	Silvercrest Asset Management Group, Inc., Class A		10,831
	4,353	State Street Corp.		268,362
	2,748	Stifel Financial Corp.		153,943
	597	StoneX Group, Inc.*		46,608
	3,338	T. Rowe Price Group, Inc.		379,230


Shares			Value
Common Stocks, continued
Capital Markets, continued
	800	Tradeweb Markets, Inc., Class A	$	54,600
	2,529	Virtu Financial, Inc., Class A		59,204
	154	Virtus Investment Partners, Inc.		26,337
	425	Westwood Holdings, Inc.		5,865
	3,476	WisdomTree Investments, Inc.		17,623

				11,066,069

Chemicals (2.4%):
	1,366	AdvanSix, Inc.		45,679
	1,576	Air Products & Chemicals, Inc.		378,996
	1,129	Albemarle Corp.		235,938
	1,157	American Vanguard Corp.		25,859
	1,489	Ashland Global Holdings, Inc.		153,441
	2,333	Avient Corp.		93,507
	6,953	Axalta Coating Systems, Ltd.*		153,731
	838	Balchem Corp.		108,722
	1,642	Cabot Corp.		104,743
	2,236	Celanese Corp.		262,976
	3,882	CF Industries Holdings, Inc.		332,804
	328	Chase Corp.		25,522
	4,033	Chemours Co. (The)		129,137
	578	Core Molding Technologies, Inc.*		5,312
	8,592	Corteva, Inc.		465,171
	8,803	Dow, Inc.		454,323
	5,587	DuPont de Nemours, Inc.		310,525
	1,680	Eastman Chemical Co.		150,814
	1,417	Ecolab, Inc.		217,878
	1,630	Ecovyst, Inc.		16,055
	7,787	Element Solutions, Inc.		138,609
	1,613	FMC Corp.		172,607
	3,222	Futurefuel Corp.		23,456
	1,709	GCP Applied Technologies, Inc.*		53,458
	1,438	H.B. Fuller Co.		86,582
	5,566	Huntsman Corp.		157,796
	962	Ingevity Corp.*		60,741
	571	Innospec, Inc.		54,696
	2,916	International Flavors & Fragrances, Inc.		347,354
	1,498	Intrepid Potash, Inc.*		67,844
	783	Koppers Holdings, Inc.		17,727
	2,011	Kronos Worldwide, Inc.		37,002
	3,686	Linde plc		1,059,836
	2,160	Livent Corp.*		49,010
	1,603	LSB Industries, Inc.*		22,218
	7,530	LyondellBasell Industries NV, Class A		658,574
	971	Minerals Technologies, Inc.		59,561
	7,687	Mosaic Co. (The)		363,057
	301	NewMarket Corp.		90,589
	4,819	Olin Corp.		223,023
	2,364	Orion Engineered Carbons SA		36,713
	3,040	PPG Industries, Inc.		347,594
	117	Quaker Chemical Corp.		17,494
	3,631	Rayonier Advanced Materials, Inc.*		9,513
	2,581	RPM International, Inc.		203,176
	1,131	Scotts Miracle-Gro Co. (The)		89,338
	1,042	Sensient Technologies Corp.		83,944
	2,297	Sherwin-Williams Co. (The)		514,321
	569	Stepan Co.		57,668
	1,070	Tredegar Corp.		10,700


Shares			Value
Common Stocks, continued
Chemicals, continued
	1,279	Trinseo PLC	$	49,190
	4,906	Tronox Holdings plc, Class A		82,421
	2,580	Valvoline, Inc.		74,381
	4,276	Venator Materials plc*		8,894
	2,150	Westlake Corp.		210,743

				9,210,963

Commercial Services & Supplies (0.9%):
	1,913	ABM Industries, Inc.		83,062
	2,927	ACCO Brands Corp.		19,113
	11,570	ADT, Inc.		71,156
	1,067	Brady Corp., Class A		50,405
	844	Brink’s Co. (The)		51,239
	1,028	Casella Waste Systems, Inc.*		74,715
	2,003	CECO Environmental Corp.*		11,978
	518	Cimpress plc*		20,150
	843	Cintas Corp.		314,886
	433	Civeo Corp.*		11,202
	1,494	Clean Harbors, Inc.*		130,979
	3,043	Copart, Inc.*		330,652
	859	Deluxe Corp.		18,615
	1,613	Ennis, Inc.		32,631
	2,148	Healthcare Services Group, Inc.		37,397
	1,042	Heritage-Crystal Clean, Inc.*		28,092
	1,467	HNI Corp.		50,890
	2,623	IAA, Inc.*		85,956
	2,041	Interface, Inc.		25,594
	5,118	KAR Auction Services, Inc.*		75,593
	2,829	Kimball International, Inc., Class B		21,698
	919	Matthews International Corp., Class A		26,348
	730	McGrath Rentcorp		55,480
	1,866	MillerKnoll, Inc.		49,020
	763	MSA Safety, Inc.		92,376
	1,552	NL Industries, Inc.		15,318
	4,238	Pitney Bowes, Inc.		15,342
	2,606	Quad Graphics, Inc.*		7,167
	2,027	Republic Services, Inc.		265,274
	4,253	Rollins, Inc.		148,515
	503	SP Plus Corp.*		15,452
	2,563	Steelcase, Inc., Class A		27,501
	2,286	Stericycle, Inc.*		100,241
	1,534	Team, Inc.*		1,140
	1,039	Tetra Tech, Inc.		141,875
	542	UniFirst Corp.		93,322
	1,003	Viad Corp.*		27,693
	824	Vse Corp.		30,966
	4,883	Waste Management, Inc.		747,001

				3,406,034

Communications Equipment (0.8%):
	1,069	ADTRAN, Inc.		18,740
	752	Applied Optoelectronics, Inc.*		1,166
	2,864	Arista Networks, Inc.*		268,471
	1,829	CalAmp Corp.*		7,627
	644	Calix, Inc.*		21,986
	2,888	Ciena Corp.*		131,982
	32,180	Cisco Systems, Inc.		1,372,155
	6,102	CommScope Holding Co., Inc.*		37,344


Shares			Value
Common Stocks, continued
Communications Equipment, continued
	756	Comtech Telecommunications Corp.	$	6,857
	1,262	Digi International, Inc.*		30,566
	1,189	EMCORE Corp.*		3,650
	868	F5, Inc.*		132,839
	2,194	Harmonic, Inc.*		19,022
	2,944	Infinera Corp.*		15,780
	441	InterDigital, Inc.		26,813
	5,828	Juniper Networks, Inc.		166,098
	909	KVH Industries, Inc.*		7,908
	1,533	Lumentum Holdings, Inc.*		121,751
	1,630	Motorola Solutions, Inc.		341,648
	1,010	NETGEAR, Inc.*		18,705
	1,838	NetScout Systems, Inc.*		62,216
	3,679	Ribbon Communications, Inc.*		11,184
	2,004	ViaSat, Inc.*		61,382
	4,098	Viavi Solutions, Inc.*		54,217

				2,940,107

Construction & Engineering (0.4%):
	3,257	AECOM		212,422
	673	Ameresco, Inc., Class A*		30,662
	1,062	Arcosa, Inc.		49,309
	455	Argan, Inc.		16,981
	1,049	Comfort Systems USA, Inc.		87,224
	1,213	Construction Partners, Inc., Class A*		25,400
	710	Dycom Industries, Inc.*		66,058
	1,291	EMCOR Group, Inc.		132,921
	2,848	Fluor Corp.*		69,320
	1,277	Granite Construction, Inc.		37,212
	2,266	Great Lakes Dredge & Dock Corp.*		29,707
	656	IES Holdings, Inc.*		19,792
	1,682	MasTec, Inc.*		120,532
	1,750	Matrix Service Co.*		8,855
	487	MYR Group, Inc.*		42,919
	346	NV5 Global, Inc.*		40,392
	2,101	Orion Group Holdings, Inc.*		4,790
	2,465	Primoris Services Corp.		53,638
	1,798	Quanta Services, Inc.		225,361
	1,648	Tutor Perini Corp.*		14,470
	568	Valmont Industries, Inc.		127,590
	4,673	WillScot Mobile Mini Holdings Corp.*		151,499

				1,567,054

Construction Materials (0.2%):
	961	Eagle Materials, Inc.		105,652
	754	Martin Marietta Materials, Inc.		225,627
	3,273	Summit Materials, Inc., Class A*		76,228
	131	U.S. Lime & Minerals, Inc.		13,834
	1,485	Vulcan Materials Co.		211,019

				632,360

Consumer Finance (1.0%):
	6,825	Ally Financial, Inc.		228,706
	5,736	American Express Co.		795,124
	6,226	Capital One Financial Corp.		648,687
	1,912	Consumer Portfolio Services, Inc.*		19,598
	490	Credit Acceptance Corp.*		231,971
	6,177	Discover Financial Services		584,221
	950	Encore Capital Group, Inc.*		54,881


Shares			Value
Common Stocks, continued
Consumer Finance, continued
	1,657	Enova International, Inc.*	$	47,755
	3,948	EZCORP, Inc., Class A*		29,649
	1,170	FirstCash Holdings, Inc.		81,327
	1,425	Green Dot Corp., Class A*		35,782
	5,431	LendingClub Corp.*		63,488
	5,938	Navient Corp.		83,073
	543	Nelnet, Inc., Class A		46,291
	750	Nicholas Financial, Inc.*		6,990
	4,313	OneMain Holdings, Inc.		161,220
	1,392	PRA Group, Inc.*		50,613
	2,187	PROG Holdings, Inc.*		36,085
	568	Regional Mgmt Corp.		21,226
	10,574	SLM Corp.		168,550
	12,153	Synchrony Financial		335,666
	237	World Acceptance Corp.*		26,601

				3,757,504

Containers & Packaging (0.8%):
	21,700	Amcor plc		269,731
	1,523	AptarGroup, Inc.		157,189
	1,735	Avery Dennison Corp.		280,844
	3,835	Ball Corp.		263,733
	4,390	Berry Global Group, Inc.*		239,870
	2,418	Crown Holdings, Inc.		222,867
	10,400	Graphic Packaging Holding Co.		213,200
	930	Greif, Inc., Class A		58,013
	710	Greif, Inc., Class B		44,226
	5,221	International Paper Co.		218,394
	1,253	Myers Industries, Inc.		28,481
	5,063	O-I Glass, Inc.*		70,882
	1,879	Packaging Corp. of America		258,363
	2,082	Sealed Air Corp.		120,173
	3,830	Silgan Holdings, Inc.		158,370
	2,780	Sonoco Products Co.		158,571
	1,022	TriMas Corp.		28,299
	538	UFP Technologies, Inc.*		42,809
	3,552	Westrock Co.		141,512

				2,975,527

Distributors (0.2%):
	1,267	Funko, Inc., Class A*		28,279
	1,853	Genuine Parts Co.		246,449
	3,391	LKQ Corp.		166,464
	490	Pool Corp.		172,103
	811	Weyco Group, Inc.		19,829

				633,124

Diversified Consumer Services (0.3%):
	1,249	Adtalem Global Education, Inc.*		44,927
	541	American Public Education, Inc.*		8,743
	927	Bright Horizons Family Solutions, Inc.*		78,350
	418	Carriage Services, Inc.		16,574
	1,372	Chegg, Inc.*		25,766
	1,826	Frontdoor, Inc.*		43,970
	112	Graham Holdings Co., Class B		63,486
	875	Grand Canyon Education, Inc.*		82,416
	3,465	H&R Block, Inc.		122,384
	3,406	Laureate Education, Inc.		39,407
	2,522	Perdoceo Education Corp.*		29,709
	3,783	Service Corp. International		261,481


Shares			Value
Common Stocks, continued
Diversified Consumer Services, continued
	825	Strategic Education, Inc.	$	58,228
	1,002	Stride, Inc.*		40,872
	3,452	Terminix Global Holdings, Inc.*		140,324
	1,696	Universal Technical Institute, Inc.*		12,092
	1,419	WW International, Inc.*		9,067

				1,077,796

Diversified Financial Services (1.2%):
	6,558	Apollo Global Management, Inc.		317,932
	13,439	Berkshire Hathaway, Inc., Class B*		3,669,116
	2,704	Cannae Holdings, Inc.*		52,295
	9,685	Equitable Holdings, Inc.		252,488
	5,286	Jefferies Financial Group, Inc.		145,999
	2,777	Voya Financial, Inc.^		165,315

				4,603,145

Diversified Telecommunication Services (1.2%):
	398	Anterix, Inc.*		16,346
	75,599	AT&T, Inc.		1,584,555
	461	ATN International, Inc.		21,626
	857	Cogent Communications Holdings, Inc.		52,071
	4,558	Consolidated Communications Holdings, Inc.*		31,906
	1,548	EchoStar Corp., Class A*		29,876
	1,080	IDT Corp.*		27,162
	3,009	Iridium Communications, Inc.*		113,018
	26,553	Lumen Technologies, Inc.		289,693
	143	Telesat Corp.*		1,597
	48,734	Verizon Communications, Inc.		2,473,251

				4,641,101

Electric Utilities (1.6%):
	925	ALLETE, Inc.		54,371
	2,285	Alliant Energy Corp.		133,924
	3,720	American Electric Power Co., Inc.		356,897
	1,163	Avangrid, Inc.		53,638
	2,343	Constellation Energy Corp.		134,160
	5,521	Duke Energy Corp.		591,906
	3,306	Edison International		209,071
	2,041	Entergy Corp.		229,898
	2,102	Evergy, Inc.		137,156
	3,330	Eversource Energy		281,285
	7,030	Exelon Corp.		318,600
	5,033	FirstEnergy Corp.		193,217
	1,272	Genie Energy, Ltd., Class B		11,652
	2,581	Hawaiian Electric Industries, Inc.		105,563
	1,176	IDACORP, Inc.		124,562
	734	MGE Energy, Inc.		57,127
	13,851	NextEra Energy, Inc.		1,072,898
	6,930	NRG Energy, Inc.		264,518
	3,897	OGE Energy Corp.		150,268
	737	Otter Tail Corp.		49,475
	16,446	PG&E Corp.*		164,131
	1,787	Pinnacle West Capital Corp.		130,665
	2,255	PNM Resources, Inc.		107,744
	2,036	Portland General Electric Co.		98,400
	7,492	PPL Corp.		203,258
	7,460	Southern Co. (The)		531,973
	5,193	Xcel Energy, Inc.		367,457

				6,133,814


Shares			Value
Common Stocks, continued
Electrical Equipment (0.7%):
	888	Acuity Brands, Inc.	$	136,788
	424	Allied Motion Technologies, Inc.		9,684
	2,727	AMETEK, Inc.		299,670
	1,155	Atkore, Inc.*		95,877
	394	AZZ, Inc.		16,083
	2,912	Eaton Corp. plc		366,883
	5,095	Emerson Electric Co.		405,256
	823	Encore Wire Corp.		85,526
	1,180	EnerSys		69,573
	736	Generac Holdings, Inc.*		154,987
	5,506	GrafTech International, Ltd.		38,927
	1,280	Hubbell, Inc.		228,582
	1,831	LSI Industries, Inc.		11,297
	3,947	nVent Electric plc		123,660
	79	Pineapple Holdings, Inc.		185
	5,002	Plug Power, Inc.*^		82,883
	606	Powell Industries, Inc.		14,162
	400	Preformed Line Products Co.		24,600
	1,374	Regal Rexnord Corp.		155,976
	1,364	Rockwell Automation, Inc.		271,859
	3,842	Sensata Technologies Holding plc		158,713
	4,144	Sunrun, Inc.*		96,804
	1,298	Thermon Group Holdings, Inc.*		18,237
	742	Tpi Composites, Inc.*		9,275
	348	Vicor Corp.*		19,046

				2,894,533

Electronic Equipment, Instruments & Components (1.3%):
	4,881	Amphenol Corp., Class A		314,239
	2,582	Arlo Technologies, Inc.*		16,189
	1,826	Arrow Electronics, Inc.*		204,676
	2,249	Avnet, Inc.		96,437
	724	Badger Meter, Inc.		58,564
	550	Bel Fuse, Inc., Class B		8,558
	1,417	Belden, Inc.		75,484
	1,054	Benchmark Electronics, Inc.		23,778
	1,649	CDW Corp.		259,816
	1,600	Cognex Corp.		68,032
	687	Coherent, Inc.*		182,893
	10,530	Corning, Inc.		331,800
	1,576	CTS Corp.		53,663
	2,838	Daktronics, Inc.*		8,542
	1,561	Dolby Laboratories, Inc., Class A		111,705
	784	ePlus, Inc.*		41,646
	839	Fabrinet*		68,043
	392	FARO Technologies, Inc.*		12,085
	15,072	Flex, Ltd.*		218,092
	640	Frequency Electronics, Inc.*		4,672
	1,346	II-VI, Inc.*^		68,579
	1,048	Insight Enterprises, Inc.*		90,421
	959	IPG Photonics Corp.*		90,271
	1,060	Itron, Inc.*		52,396
	4,868	Jabil, Inc.		249,290
	2,430	Keysight Technologies, Inc.*		334,976
	1,603	Kimball Electronics, Inc.*		32,220
	2,737	Knowles Corp.*		47,432
	546	Littlelfuse, Inc.		138,706
	790	Methode Electronics, Inc., Class A		29,262


Shares			Value
Common Stocks, continued
Electronic Equipment, Instruments & Components, continued
	2,559	National Instruments Corp.	$	79,918
	702	Novanta, Inc.*		85,132
	594	OSI Systems, Inc.*		50,751
	621	PC Connection, Inc.		27,355
	800	Plexus Corp.*		62,800
	438	Rogers Corp.*		114,795
	1,757	Sanmina Corp.*		71,563
	738	ScanSource, Inc.*		22,981
	1,795	TD SYNNEX Corp.		163,525
	2,600	TE Connectivity, Ltd.		294,190
	458	Teledyne Technologies, Inc.*		171,800
	2,694	Trimble, Inc.*		156,872
	3,068	TTM Technologies, Inc.*		38,350
	3,363	Vishay Intertechnology, Inc.		59,929
	2,080	Vontier Corp.		47,819
	630	Zebra Technologies Corp., Class A*		185,189

				4,925,436

Energy Equipment & Services (0.6%):
	4,779	Archrock, Inc.		39,522
	10,629	Baker Hughes Co.		306,859
	519	Bristow Group, Inc.*		12,145
	562	Cactus, Inc., Class A		22,632
	5,397	ChampionX Corp.		107,130
	711	Core Laboratories NV		14,085
	562	DMC Global, Inc.*		10,133
	1,028	Dril-Quip, Inc.*		26,522
	1,095	Expro Group Holdings NV*		12,614
	2,010	Exterran Corp.*		8,643
	306	Forum Energy Technologies, Inc.*		6,004
	760	Geospace Technologies Corp.*		3,602
	1,086	Gulf Island Fabrication, Inc.*		3,638
	11,703	Halliburton Co.		367,006
	4,336	Helix Energy Solutions Group, Inc.*		13,442
	2,727	Helmerich & Payne, Inc.		117,425
	2,181	Liberty Oilfield Services, Inc., Class A*		27,829
	1,436	Mammoth Energy Services, Inc.*		3,159
	359	Nabors Industries, Ltd.*		48,070
	935	Natural Gas Services Group*		10,285
	4,799	Newpark Resources, Inc.*		14,829
	8,513	NexTier Oilfield Solutions, Inc.*		80,959
	900	Noble Corp.*		22,815
	8,395	NOV, Inc.		141,959
	3,444	Oceaneering International, Inc.*		36,782
	3,066	Oil States International, Inc.*		16,618
	6,531	Patterson-UTI Energy, Inc.		102,928
	2,684	Propetro Holding Corp.*		26,840
	4,475	RPC, Inc.*		30,922
	11,293	Schlumberger, Ltd.		403,838
	493	SEACOR Marine Holdings, Inc.*		2,840
	3,974	Select Energy Services, Inc.*		27,103
	13,590	TechnipFMC plc*		91,461
	4,086	TETRA Technologies, Inc.*		16,589
	2,510	Tidewater, Inc.*		52,936
	14,584	Transocean, Ltd.*		48,565
	4,546	U.S. Silica Holdings, Inc.*		51,915
	780	Weatherford International plc*		16,513

				2,347,157


Shares			Value
Common Stocks, continued
Entertainment (1.0%):
	5,649	Activision Blizzard, Inc.	$	439,831
	2,561	Cinemark Holdings, Inc.*		38,466
	2,633	Electronic Arts, Inc.		320,305
	873	Endeavor Group Holdings, Inc.*		17,949
	1,045	Imax Corp.*		17,650
	247	Liberty Media Corp.-Liberty Braves, Class A*		6,212
	527	Liberty Media Corp.-Liberty Braves, Class C*		12,648
	619	Liberty Media Corp-Liberty Formula One, Class A*		35,883
	4,474	Liberty Media Corp-Liberty Formula One, Class C*		283,965
	2,111	Lions Gate Entertainment Corp., Class A*		19,653
	2,411	Lions Gate Entertainment Corp., Class B*		21,289
	2,071	Live Nation Entertainment, Inc.*		171,023
	894	Madison Square Garden Entertainment Corp.*		47,042
	369	Madison Square Garden Sports Corp., Class A*		55,719
	1,459	Marcus Corp.*		21,550
	3,160	Netflix, Inc.*		552,589
	3,472	Playtika Holding Corp.*		45,969
	1,419	Reading International, Inc., Class A*		5,123
	598	ROBLOX Corp., Class A*		19,650
	454	Roku, Inc.*		37,292
	823	Spotify Technology SA*		77,222
	2,281	Take-Two Interactive Software, Inc.*		279,491
	10,345	Walt Disney Co. (The)*		976,568
	26,487	Warner Bros Discovery, Inc.*		355,456
	1,420	Warner Music Group Corp.		34,591
	1,208	World Wrestling Entertainment, Inc., Class A		75,488

				3,968,624

Food & Staples Retailing (1.5%):
	1,374	Albertsons Cos., Inc., Class A		36,713
	3,262	BJ’s Wholesale Club Holdings, Inc.*		203,288
	998	Casey’s General Stores, Inc.		184,610
	3,697	Costco Wholesale Corp.		1,771,898
	650	Grocery Outlet Holding Corp.*		27,710
	613	Ingles Markets, Inc., Class A		53,178
	15,716	Kroger Co. (The)		743,838
	1,720	Natural Grocers by Vitamin Cottage, Inc.		27,434
	3,349	Performance Food Group Co.*		153,987
	678	PriceSmart, Inc.		48,565
	1,864	Rite Aid Corp.*		12,563
	1,048	SpartanNash Co.		31,618
	4,494	Sprouts Farmers Market, Inc.*		113,788
	4,671	Sysco Corp.		395,681
	1,610	The Andersons, Inc.		53,114
	1,143	The Chefs’ Warehouse, Inc.*		44,451
	1,907	United Natural Foods, Inc.*		75,136
	5,735	US Foods Holding Corp.*		175,950
	738	Village Super Market, Inc., Class A		16,834
	8,238	Walgreens Boots Alliance, Inc.		312,220
	12,188	Walmart, Inc.		1,481,817
	857	Weis Markets, Inc.		63,881

				6,028,274

Food Products (1.6%):
	6,537	Archer-Daniels-Midland Co.		507,271
	2,035	B&G Foods, Inc.^		48,392
	4,205	Bunge, Ltd.		381,351
	270	Calavo Growers, Inc.		11,264
	1,477	Cal-Maine Foods, Inc.		72,978


Shares			Value
Common Stocks, continued
Food Products, continued
	5,711	Campbell Soup Co.	$	274,413
	5,882	Conagra Brands, Inc.		201,400
	2,701	Darling Ingredients, Inc.*		161,520
	1,004	Farmer Brothers Co.*		4,709
	5,664	Flowers Foods, Inc.		149,076
	1,375	Fresh Del Monte Produce, Inc.		40,604
	640	Freshpet, Inc.*		33,210
	5,770	General Mills, Inc.		435,346
	2,709	Hain Celestial Group, Inc. (The)*		64,312
	1,802	Hershey Co. (The)		387,718
	4,488	Hormel Foods Corp.		212,552
	3,521	Hostess Brands, Inc.*		74,680
	1,610	Ingredion, Inc.		141,938
	376	J & J Snack Foods Corp.		52,512
	1,263	JM Smucker Co. (The)		161,677
	300	John B Sanfilippo & Son, Inc.		21,747
	5,587	Kellogg Co.		398,577
	5,691	Kraft Heinz Co. (The)		217,055
	2,371	Lamb Weston Holdings, Inc.		169,432
	736	Lancaster Colony Corp.		94,782
	1,028	Landec Corp.*		10,249
	2,497	McCormick & Co.		207,875
	778	McCormick & Co., Inc.		64,597
	7,023	Mondelez International, Inc., Class A		436,058
	4,222	Pilgrim’s Pride Corp.*		131,853
	1,836	Post Holdings, Inc.*		151,195
	587	Sanderson Farms, Inc.		126,516
	29	Seaboard Corp.		112,595
	266	Seneca Foods Corp., Class A*		14,774
	2,245	Simply Good Foods Co. (The)*		84,794
	900	Tootsie Roll Industries, Inc.		31,815
	1,535	TreeHouse Foods, Inc.*		64,194
	4,474	Tyson Foods, Inc., Class A		385,032

				6,140,063

Gas Utilities (0.2%):
	1,986	Atmos Energy Corp.		222,631
	273	Chesapeake Utilities Corp.		35,367
	2,859	Macquarie Infrastructure Holdings LLC		11,179
	2,171	National Fuel Gas Co.		143,395
	2,685	New Jersey Resources Corp.		119,563
	620	Northwest Natural Holding Co.		32,922
	1,069	ONE Gas, Inc.		86,792
	232	RGC Resources, Inc.		4,424
	1,202	South Jersey Industries, Inc.		41,036
	912	Spire, Inc.		67,825
	4,064	UGI Corp.		156,911

				922,045

Health Care Equipment & Supplies (2.3%):
	11,523	Abbott Laboratories		1,251,974
	278	ABIOMED, Inc.*		68,808
	2,269	Accuray, Inc.*^		4,447
	345	Align Technology, Inc.*		81,651
	912	AngioDynamics, Inc.*		17,647
	955	Anika Therapeutics, Inc.*		21,316
	1,619	Artivion, Inc.*		30,567
	707	AtriCure, Inc.*		28,888
	36	Atrion Corp.		22,639


Shares			Value
Common Stocks, continued
Health Care Equipment & Supplies, continued
	991	Avanos Medical, Inc.*	$	27,094
	744	Axonics, Inc.*		42,162
	5,209	Baxter International, Inc.		334,574
	1,470	Becton Dickinson & Co.		362,399
	7,829	Boston Scientific Corp.*		291,787
	629	CONMED Corp.		60,233
	507	Cooper Cos., Inc. (The)		158,752
	4,243	Danaher Corp.		1,075,685
	3,528	DENTSPLY SIRONA, Inc.		126,055
	1,128	Dexcom, Inc.*		84,070
	3,086	Edwards Lifesciences Corp.*		293,448
	294	Embecta Corp.*		7,444
	1,056	Enovis Corp.*		58,080
	2,838	Envista Holdings Corp.*		109,376
	1,691	Globus Medical, Inc.*		94,933
	1,463	Haemonetics Corp.*		95,358
	149	Heska Corp.*		14,082
	5,513	Hologic, Inc.*		382,051
	473	ICU Medical, Inc.*		77,756
	824	IDEXX Laboratories, Inc.*		289,002
	516	Inari Medical, Inc.*		35,083
	433	Inogen, Inc.*		10,470
	334	Insulet Corp.*		72,792
	940	Integer Holdings Corp.*		66,420
	1,679	Integra LifeSciences Holdings Corp.*		90,716
	1,614	Intuitive Surgical, Inc.*		323,946
	2,327	Invacare Corp.*^		2,979
	1,705	Lantheus Holdings, Inc.*		112,581
	809	LeMaitre Vascular, Inc.		36,850
	725	LENSAR, Inc.*		4,720
	1,168	LivaNova plc*		72,965
	509	Masimo Corp.*		66,511
	6,947	Medtronic plc		623,493
	1,464	Meridian Bioscience, Inc.*		44,535
	1,136	Merit Medical Systems, Inc.*		61,651
	982	Natus Medical, Inc.*		32,180
	1,608	Neogen Corp.*		38,737
	598	Novocure, Ltd.*		41,561
	1,066	NuVasive, Inc.*		52,405
	2,205	OraSure Technologies, Inc.*		5,976
	566	Orthofix Medical, Inc.*		13,324
	466	Penumbra, Inc.*		58,026
	1,007	QuidelOrtho Corp.*		97,860
	1,401	ResMed, Inc.		293,692
	624	SeaSpine Holdings Corp.*		3,526
	176	Shockwave Medical, Inc.*		33,646
	685	STAAR Surgical Co.*		48,587
	1,032	STERIS plc		212,747
	1,764	Stryker Corp.		350,912
	110	Surgalign Holdings, Inc.*		375
	406	Tandem Diabetes Care, Inc.*		24,031
	531	Teleflex, Inc.		130,546
	227	Utah Medical Products, Inc.		19,499
	1,100	Varex Imaging Corp.*		23,529
	684	West Pharmaceutical Services, Inc.		206,821
	2,179	Zimmer Biomet Holdings, Inc.		228,926
	217	Zimvie, Inc.*		3,474

				9,058,370


Shares			Value
Common Stocks, continued
Health Care Providers & Services (3.2%):
	2,284	Acadia Healthcare Co., Inc.*	$	154,467
	343	Addus HomeCare Corp.*		28,565
	4,366	agilon health, Inc.*		95,310
	78	AlerisLife, Inc.*		94
	757	Amedisys, Inc.*		79,576
	2,183	AmerisourceBergen Corp.		308,851
	1,394	AMN Healthcare Services, Inc.*		152,936
	1,245	Apollo Medical Holdings, Inc.*		48,045
	9,264	Brookdale Senior Living, Inc.*		42,059
	4,191	Cardinal Health, Inc.		219,064
	4,279	Centene Corp.*		362,046
	394	Chemed Corp.		184,940
	3,378	Cigna Corp.		890,171
	5,028	Community Health Systems, Inc.*		18,855
	318	CorVel Corp.*		46,832
	3,891	Covetrus, Inc.*		80,738
	1,177	Cross Country Healthcare, Inc.*		24,517
	13,839	CVS Health Corp.		1,282,322
	1,553	DaVita, Inc.*		124,178
	1,844	Elevance Health, Inc.		889,878
	2,542	Encompass Health Corp.		142,479
	1,585	Ensign Group, Inc. (The)		116,450
	958	Guardant Health, Inc.*		38,646
	609	Hanger, Inc.*		8,721
	1,772	HCA Healthcare, Inc.		297,802
	786	HealthEquity, Inc.*		48,253
	2,772	Henry Schein, Inc.*		212,723
	975	Humana, Inc.		456,368
	1,529	InfuSystem Holdings, Inc.*		14,724
	1,433	Laboratory Corp. of America Holdings		335,838
	742	LHC Group, Inc.*		115,559
	1,512	McKesson Corp.		493,229
	1,710	MEDNAX, Inc.*		35,927
	564	ModivCare, Inc.*		47,658
	835	Molina Healthcare, Inc.*		233,474
	575	National Healthcare Corp.		40,192
	819	National Research Corp.		31,351
	2,228	Option Care Health, Inc.*		61,916
	2,072	Owens & Minor, Inc.		65,164
	3,095	Patterson Cos., Inc.		93,778
	629	Petiq, Inc.*		10,561
	2,269	Premier, Inc., Class A		80,958
	861	Progyny, Inc.*		25,012
	2,061	Quest Diagnostics, Inc.		274,072
	4,626	R1 RCM, Inc.*		96,961
	1,355	RadNet, Inc.*		23,414
	2,778	Select Medical Holdings Corp.		65,616
	585	Surgery Partners, Inc.*		16,918
	2,695	Tenet Healthcare Corp.*		141,649
	792	The Pennant Group, Inc.*		10,145
	207	U.S. Physical Therapy, Inc.		22,604
	7,097	UnitedHealth Group, Inc.		3,645,232
	1,705	Universal Health Services, Inc., Class B		171,711

				12,508,549

Health Care Technology (0.1%):
	4,097	Allscripts Healthcare Solutions, Inc.*		60,759
	1,109	Certara, Inc.*		23,799


Shares			Value
Common Stocks, continued
Health Care Technology, continued
	4,924	Change Healthcare, Inc.*	$	113,547
	339	Computer Programs & Systems, Inc.*		10,838
	1,873	Evolent Health, Inc., Class A*		57,520
	1,357	HealthStream, Inc.*		29,460
	1,430	NextGen Healthcare, Inc.*		24,939
	574	Omnicell, Inc.*		65,293
	394	Simulations Plus, Inc.		19,436
	1,470	Teladoc Health, Inc.*		48,819
	705	Veeva Systems, Inc., Class A*		139,618

				594,028

Hotels, Restaurants & Leisure (1.7%):
	4,796	Aramark		146,901
	6	Biglari Holdings, Inc., Class A*		3,527
	67	Biglari Holdings, Inc., Class B*		8,221
	492	BJ’s Restaurants, Inc.*		10,667
	1,554	Bloomin’ Brands, Inc.		25,827
	491	Bluegreen Vacations Holding Corp.		12,255
	266	Booking Holdings, Inc.*		465,231
	1,059	Boyd Gaming Corp.		52,685
	970	Brinker International, Inc.*		21,369
	1,468	Caesars Entertainment, Inc.*		56,224
	9,118	Carnival Corp., Class A*^		78,871
	2,943	Carrols Restaurant Group, Inc.		5,945
	665	Cheesecake Factory, Inc. (The)		17,569
	202	Chipotle Mexican Grill, Inc.*		264,067
	767	Choice Hotels International, Inc.		85,620
	611	Churchill Downs, Inc.		117,025
	429	Chuy’s Holdings, Inc.*		8,546
	613	Cracker Barrel Old Country Store, Inc.		51,179
	1,913	Darden Restaurants, Inc.		216,399
	1,410	Dave & Buster’s Entertainment, Inc.*		46,220
	1,239	Denny’s Corp.*		10,755
	376	Domino’s Pizza, Inc.		146,531
	1,288	El Pollo Loco Holdings, Inc.*		12,674
	757	Expedia Group, Inc.*		71,786
	1,277	Fiesta Restaurant Group, Inc.*		9,118
	1,551	Hilton Grand Vacations, Inc.*		55,417
	2,080	Hilton Worldwide Holdings, Inc.		231,795
	1,051	Hyatt Hotels Corp., Class A*		77,679
	323	Jack in the Box, Inc.		18,107
	2,311	Las Vegas Sands Corp.*		77,627
	1,893	Light & Wonder, Inc., Class A*		88,952
	2,491	Marriott International, Inc., Class A		338,801
	844	Marriott Vacations Worldwide Corp.		98,073
	5,177	McDonald’s Corp.		1,278,098
	5,516	MGM Resorts International		159,688
	341	Nathans Famous, Inc.		19,972
	5,162	Norwegian Cruise Line Holdings, Ltd.*		57,401
	671	Papa John’s International, Inc.		56,042
	2,176	Penn National Gaming, Inc.*		66,194
	1,693	Planet Fitness, Inc., Class A*		115,141
	3,664	Playa Hotels & Resorts NV*		25,172
	763	Potbelly Corp.*		4,311
	878	Red Robin Gourmet Burgers, Inc.*		7,050
	1,400	Red Rock Resorts, Inc.		46,704
	2,911	Royal Caribbean Cruises, Ltd.*		101,623
	748	Ruth’s Hospitality Group, Inc.		12,162


Shares			Value
Common Stocks, continued
Hotels, Restaurants & Leisure, continued
	1,359	SeaWorld Entertainment, Inc.*	$	60,041
	1,371	Six Flags Entertainment Corp.*		29,751
	8,104	Starbucks Corp.		619,065
	1,701	Texas Roadhouse, Inc., Class A		124,513
	1,976	Travel + Leisure Co.		76,708
	359	Vail Resorts, Inc.		78,280
	6,284	Wendy’s Co. (The)		118,642
	548	Wingstop, Inc.		40,974
	1,326	Wyndham Hotels & Resorts, Inc.		87,145
	1,374	Wynn Resorts, Ltd.*		78,291
	2,639	Yum! Brands, Inc.		299,553

				6,494,184

Household Durables (0.9%):
	906	Beazer Homes USA, Inc.*		10,935
	183	Cavco Industries, Inc.*		35,866
	858	Century Communities, Inc.		38,584
	6,194	DR Horton, Inc.		409,981
	730	Ethan Allen Interiors, Inc.		14,753
	431	Flexsteel Industries, Inc.		7,758
	2,269	Garmin, Ltd.		222,929
	2,761	GoPro, Inc., Class A*		15,268
	1,329	Green Brick Partners, Inc.*		26,009
	484	Helen of Troy, Ltd.*		78,606
	500	Hooker Furnishings Corp.		7,775
	830	Installed Building Products, Inc.		69,023
	596	iRobot Corp.*		21,903
	2,155	KB Home		61,331
	1,350	La-Z-Boy, Inc.		32,009
	4,086	Leggett & Platt, Inc.		141,294
	3,605	Lennar Corp., Class A		254,405
	119	Lennar Corp., Class B		6,986
	585	LGI Homes, Inc.*		50,837
	1,017	Lifetime Brands, Inc.		11,228
	1,880	M/I Homes, Inc.*		74,561
	1,985	MDC Holdings, Inc.		64,135
	1,004	Meritage Homes Corp.*		72,790
	1,361	Mohawk Industries, Inc.*		168,886
	10,746	Newell Brands, Inc.		204,604
	61	NVR, Inc.*		244,253
	5,734	PulteGroup, Inc.		227,238
	1,139	Skyline Champion Corp.*		54,011
	1,307	Sonos, Inc.*		23,578
	3,736	Taylor Morrison Home Corp., Class A*		87,273
	3,449	Tempur Sealy International, Inc.		73,705
	2,183	Toll Brothers, Inc.		97,362
	935	TopBuild Corp.*		156,295
	3,273	Tri Pointe Homes, Inc.*		55,216
	905	Tupperware Brands Corp.*		5,738
	320	Universal Electronics, Inc.*		8,182
	1,621	VOXX International Corp.*		15,092
	1,418	Whirlpool Corp.		219,606

				3,370,005

Household Products (1.2%):
	1,509	Central Garden & Pet Co., Class A*		60,375
	3,272	Church & Dwight Co., Inc.		303,184
	1,448	Clorox Co. (The)		204,139


Shares			Value
Common Stocks, continued
Household Products, continued
	7,616	Colgate-Palmolive Co.	$	610,346
	1,114	Energizer Holdings, Inc.		31,582
	3,022	Kimberly-Clark Corp.		408,423
	333	Oil-Dri Corp. of America		10,206
	20,457	Procter & Gamble Co. (The)		2,941,512
	1,828	Reynolds Consumer Products, Inc.		49,850
	945	Spectrum Brands Holdings, Inc.		77,509
	218	WD-40 Co.		43,896

				4,741,022

Independent Power and Renewable Electricity Producers (0.2%):
	7,504	AES Corp. (The)		157,659
	2,247	Atlantica Sustainable Infrastructure plc		72,488
	2,755	Brookfield Renewable Corp., Class A		98,106
	1,323	Clearway Energy, Inc., Class A		42,296
	2,153	Clearway Energy, Inc., Class C		75,011
	1,462	Ormat Technologies, Inc.		114,548
	1,658	Sunnova Energy International, Inc.*		30,557
	10,410	Vistra Corp.		237,868

				828,533

Industrial Conglomerates (0.6%):
	5,058	3M Co.		654,556
	1,213	Carlisle Cos., Inc.		289,434
	5,892	General Electric Co.		375,144
	5,253	Honeywell International, Inc.		913,024
	584	Roper Technologies, Inc.		230,475

				2,462,633

Insurance (3.1%):
	5,714	Aflac, Inc.		316,156
	275	Alleghany Corp.*		229,102
	5,214	Allstate Corp. (The)		660,770
	1,297	AMBAC Financial Group, Inc.*		14,721
	2,911	American Equity Investment Life Holding Co.		106,455
	1,778	American Financial Group, Inc.		246,804
	6,164	American International Group, Inc.		315,165
	745	Amerisafe, Inc.		38,747
	1,964	Aon plc, Class A		529,652
	4,926	Arch Capital Group, Ltd.*		224,084
	560	Argo Group International Holdings, Ltd.		20,642
	2,069	Arthur J. Gallagher & Co.		337,330
	1,280	Assurant, Inc.		221,248
	2,047	Assured Guaranty, Ltd.		114,202
	2,351	Axis Capital Holdings, Ltd.		134,219
	2,603	Brighthouse Financial, Inc.*		106,775
	3,292	Brown & Brown, Inc.		192,055
	1,701	BRP Group, Inc.*		41,079
	3,095	Chubb, Ltd.		608,415
	1,844	Cincinnati Financial Corp.		219,399
	2,176	Citizens, Inc.*^		9,117
	1,199	CNA Financial Corp.		53,835
	2,354	Crawford & Co.		16,596
	895	Crawford & Co., Class A		6,981
	1,631	Donegal Group, Inc., Class A		27,809
	800	eHealth, Inc.*		7,464
	781	Employers Holdings, Inc.		32,716
	447	Enstar Group, Ltd.*		95,649


Shares			Value
Common Stocks, continued
Insurance, continued
	887	Erie Indemnity Co., Class A	$	170,473
	521	Everest Re Group, Ltd.		146,026
	6,172	Fidelity National Financial, Inc.		228,117
	3,103	First American Financial Corp.		164,211
	14,957	Genworth Financial, Inc., Class A*		52,798
	695	Global Indemnity Group LLC, Class A		17,980
	2,157	Globe Life, Inc.		210,243
	318	Goosehead Insurance, Inc.		14,523
	2,383	Greenlight Capital Re, Ltd.*		18,421
	1,469	Hallmark Financial Services, Inc.*		3,555
	1,039	Hanover Insurance Group, Inc. (The)		151,954
	4,507	Hartford Financial Services Group, Inc. (The)		294,893
	397	HCI Group, Inc.^		26,901
	387	Heritage Insurance Holdings, Inc.		1,022
	1,293	Horace Mann Educators Corp.		49,625
	153	Investors Title Co.		24,004
	868	James River Group Holdings		21,509
	2,246	Kemper Corp.		107,583
	381	Kinsale Capital Group, Inc.		87,493
	2,749	Lincoln National Corp.		128,571
	2,831	Loews Corp.		167,765
	5,556	Maiden Holdings, Ltd.*		10,779
	162	Markel Corp.*		209,506
	3,891	Marsh & McLennan Cos., Inc.		604,078
	1,688	Mercury General Corp.		74,778
	5,123	MetLife, Inc.		321,673
	162	National Western Life Group, Inc., Class A		32,837
	8,176	Old Republic International Corp.		182,815
	1,239	Primerica, Inc.		148,296
	3,024	Principal Financial Group, Inc.		201,973
	1,399	ProAssurance Corp.		33,058
	4,196	Progressive Corp. (The)		487,869
	2,865	Prudential Financial, Inc.		274,123
	1,379	Reinsurance Group of America, Inc.		161,743
	830	RenaissanceRe Holdings, Ltd.		129,787
	1,252	RLI Corp.		145,971
	321	Safety Insurance Group, Inc.		31,169
	1,898	Selective Insurance Group, Inc.		165,012
	5,145	SiriusPoint, Ltd.*		27,886
	612	Stewart Information Services Corp.		30,447
	1,767	Tiptree, Inc., Class A		18,766
	3,861	Travelers Cos., Inc. (The)		653,011
	367	Trupanion, Inc.*		22,115
	728	United Fire Group, Inc.		24,919
	2,794	United Insurance Holdings Co.		4,359
	1,869	Universal Insurance Holdings, Inc.		24,353
	5,139	Unum Group		174,829
	85	White Mountains Insurance Group, Ltd.		105,921
	1,569	Willis Towers Watson plc		309,705
	3,796	WR Berkley Corp.		259,115

				11,885,747

Interactive Media & Services (3.7%):
	2,358	Alphabet, Inc., Class A*		5,138,695
	2,199	Alphabet, Inc., Class C*		4,810,203
	2,130	Bumble, Inc.*		59,959
	2,370	Cargurus, Inc.*		50,931
	1,955	Cars.com, Inc.*		18,436


Shares			Value
Common Stocks, continued
Interactive Media & Services, continued
	2,881	DHI Group, Inc.*	$	14,319
	2,717	Match Group, Inc.*		189,348
	22,746	Meta Platforms, Inc., Class A*		3,667,792
	2,021	Pinterest, Inc., Class A*		36,701
	1,563	QuinStreet, Inc.*		15,724
	2,381	Snap, Inc., Class A*		31,262
	1,344	Travelzoo*		8,145
	2,514	TripAdvisor, Inc.*		44,749
	2,857	TrueCar, Inc.*		7,400
	6,686	Twitter, Inc.*		249,990
	1,590	Yelp, Inc.*		44,154
	664	Zedge, Inc., Class B*		1,912
	1,474	Ziff Davis, Inc.*		109,857

				14,499,577

Internet & Direct Marketing Retail (2.1%):
	893	1-800-Flowers.com, Inc., Class A*		8,492
	69,400	Amazon.com, Inc.*		7,370,974
	690	Chewy, Inc., Class A*^		23,957
	8,272	eBay, Inc.		344,694
	1,489	Etsy, Inc.*		109,010
	1,642	Lands’ End, Inc.*		17,438
	1,736	Liquidity Services, Inc.*		23,332
	588	PetMed Express, Inc.		11,701
	1,526	Quotient Technology, Inc.*		4,532
	8,810	Qurate Retail, Inc., Class A		25,285
	649	Revolve Group, Inc.*		16,815
	764	Shutterstock, Inc.		43,785
	430	Wayfair, Inc., Class A*^		18,731

				8,018,746

IT Services (4.0%):
	5,591	Accenture plc, Class A		1,552,341
	2,020	Akamai Technologies, Inc.*		184,487
	1,974	Alliance Data Systems Corp.		73,156
	2,873	Amdocs, Ltd.		239,350
	3,866	Automatic Data Processing, Inc.		812,015
	2,534	Black Knight, Inc.*		165,698
	918	Block, Inc.*		56,420
	252	BM Technologies, Inc.*		1,484
	1,706	Broadridge Financial Solutions, Inc.		243,190
	687	Cass Information Systems, Inc.		23,221
	3,743	Cognizant Technology Solutions Corp., Class A		252,615
	1,091	Concentrix Corp.		147,983
	6,347	Conduent, Inc.*		27,419
	1,011	CSG Systems International, Inc.		60,337
	6,526	DXC Technology Co.*		197,803
	435	EPAM Systems, Inc.*		128,229
	1,164	Euronet Worldwide, Inc.*		117,087
	2,060	Evertec, Inc.		75,973
	762	Exlservice Holdings, Inc.*		112,265
	4,406	Fidelity National Information Services, Inc.		403,898
	4,458	Fiserv, Inc.*		396,628
	1,367	FleetCor Technologies, Inc.*		287,220
	1,028	Gartner, Inc.*		248,601
	5,428	Genpact, Ltd.		229,930
	2,351	Global Payments, Inc.		260,115
	2,303	GoDaddy, Inc., Class A*		160,197
	1,357	Hackett Group, Inc. (The)		25,742


Shares			Value
Common Stocks, continued
IT Services, continued
	12,036	International Business Machines Corp.	$	1,699,363
	840	Jack Henry & Associates, Inc.		151,217
	2,484	Kyndryl Holdings, Inc.*		24,294
	2,160	Limelight Networks, Inc.*		4,990
	1,456	LiveRamp Holdings, Inc.*		37,579
	7,941	Mastercard, Inc., Class A		2,505,227
	1,540	MAXIMUS, Inc.		96,265
	262	MongoDB, Inc.*		67,989
	1,032	Okta, Inc.*		93,293
	2,982	Paychex, Inc.		339,560
	5,186	PayPal Holdings, Inc.*		362,190
	728	Perficient, Inc.*		66,750
	840	PFSweb, Inc.*		9,878
	3,035	Servicesource International, Inc.*		4,461
	1,655	SolarWinds Corp.		16,964
	1,603	Switch, Inc., Class A		53,701
	2,880	Teradata Corp.*		106,589
	1,284	TTEC Holdings, Inc.		87,171
	891	Twilio, Inc., Class A*		74,675
	2,221	Unisys Corp.*		26,719
	1,083	VeriSign, Inc.*		181,218
	3,457	Verra Mobility Corp.*		54,310
	13,724	Visa, Inc., Class A		2,702,118
	6,143	Western Union Co. (The.)		101,175
	975	WEX, Inc.*		151,671

				15,502,771

Leisure Products (0.3%):
	2,057	Academy Sports & Outdoors, Inc.		73,106
	1,798	Acushnet Holdings Corp.		74,941
	895	American Outdoor Brands, Inc.*		8,511
	2,521	Brunswick Corp.		164,823
	1,535	Callaway Golf Co.*		31,314
	658	Escalade, Inc.		8,547
	1,625	Hasbro, Inc.		133,055
	1,250	Hayward Holdings, Inc.*		17,988
	303	Johnson Outdoors, Inc., Class A		18,531
	531	Malibu Boats, Inc.*		27,989
	662	Marine Products Corp.		6,296
	8,660	Mattel, Inc.*		193,378
	995	Nautilus Group, Inc.*		1,741
	909	Peloton Interactive, Inc., Class A*		8,345
	1,582	Polaris, Inc.		157,061
	1,410	Smith & Wesson Brands, Inc.		18,513
	1,612	Vista Outdoor, Inc.*		44,975
	1,824	YETI Holdings, Inc.*		78,924

				1,068,038

Life Sciences Tools & Services (0.9%):
	237	10X Genomics, Inc., Class A*		10,724
	1,570	Agilent Technologies, Inc.		186,469
	7,162	Avantor, Inc.*		222,738
	314	Bio-Rad Laboratories, Inc., Class A*		155,430
	257	Bio-Techne Corp.		89,086
	3,557	Bruker Corp.		223,237
	534	Charles River Laboratories International, Inc.*		114,260
	1,979	Harvard Bioscience, Inc.*		7,124
	663	Illumina, Inc.*		122,231


Shares			Value
Common Stocks, continued
Life Sciences Tools & Services, continued
	1,517	IQVIA Holdings, Inc.*	$	329,174
	1,682	Maravai LifeSciences Holdings, Inc., Class A*		47,786
	765	Medpace Holdings, Inc.*		114,498
	265	Mettler-Toledo International, Inc.*		304,424
	1,400	Neogenomics, Inc.*		11,410
	1,490	PerkinElmer, Inc.		211,908
	3,399	Sotera Health Co.*		66,586
	2,322	Syneos Health, Inc.*		166,441
	2,036	Thermo Fisher Scientific, Inc.		1,106,118
	670	Waters Corp.*		221,757

				3,711,401

Machinery (2.5%):
	2,107	AGCO Corp.		207,961
	228	Alamo Group, Inc.		26,546
	737	Albany International Corp., Class A		58,068
	3,290	Allison Transmission Holdings, Inc.		126,500
	1,335	Altra Industrial Motion Corp.		47,059
	656	Astec Industries, Inc.		26,752
	1,591	Barnes Group, Inc.		49,544
	837	Blue Bird Corp.*		7,709
	4,839	Caterpillar, Inc.		865,020
	904	Chart Industries, Inc.*		151,311
	468	CIRCOR International, Inc.*		7,670
	653	Columbus McKinnon Corp.		18,526
	707	Commercial Vehicle Group, Inc.*		4,129
	1,452	Crane Holdings Co.		127,137
	2,397	Cummins, Inc.		463,891
	2,740	Deere & Co.		820,548
	2,678	Donaldson Co., Inc.		128,919
	471	Douglas Dynamics, Inc.		13,537
	2,058	Dover Corp.		249,677
	1,250	Enerpac Tool Group Corp.		23,775
	453	EnPro Industries, Inc.		37,114
	1,056	Esab Corp.		46,200
	372	ESCO Technologies, Inc.		25,434
	2,747	Evoqua Water Technologies Co.*		89,305
	1,153	Federal Signal Corp.		41,047
	3,181	Flowserve Corp.		91,072
	3,638	Fortive Corp.		197,834
	983	Franklin Electric Co., Inc.		72,015
	4,714	Gates Industrial Corp. plc*		50,958
	889	Gencor Industries, Inc.*		9,032
	606	Gorman-Rupp Co. (The)		17,150
	3,738	Graco, Inc.		222,075
	2,503	Harsco Corp.*		17,796
	650	Helios Technologies, Inc.		43,062
	2,088	Hillenbrand, Inc.		85,524
	490	Hurco Cos., Inc.		12,123
	896	Hyster-Yale Materials Handling, Inc., Class A		28,869
	704	IDEX Corp.		127,868
	2,868	Illinois Tool Works, Inc.		522,693
	4,169	Ingersoll-Rand, Inc.		175,431
	1,926	ITT, Inc.		129,504
	757	John Bean Technologies Corp.		83,588
	286	Kadant, Inc.		52,152
	2,377	Kennametal, Inc.		55,218
	787	L.B. Foster Co., Class A*		10,129


Shares			Value
Common Stocks, continued
Machinery, continued
	1,490	Lincoln Electric Holdings, Inc.	$	183,806
	221	Lindsay Corp.		29,353
	1,213	Manitex International, Inc.*		7,872
	2,529	Manitowoc Co., Inc. (The)*		26,630
	2,774	Meritor, Inc.*		100,779
	1,184	Middleby Corp. (The)*		148,426
	1,706	Mueller Industries, Inc.		90,913
	4,883	Mueller Water Products, Inc., Class A		57,278
	1,258	NN, Inc.*		3,183
	656	Nordson Corp.		132,801
	158	Omega Flex, Inc.		17,004
	1,389	Oshkosh Corp.		114,092
	3,878	Otis Worldwide Corp.		274,058
	4,207	PACCAR, Inc.		346,404
	1,980	Parker-Hannifin Corp.		487,179
	1,058	Park-Ohio Holdings Corp.		16,780
	3,448	Pentair plc		157,815
	524	Proto Labs, Inc.*		25,068
	549	RBC Bearings, Inc.*		101,538
	3,787	REV Group, Inc.		41,165
	612	Shyft Group, Inc. (The)		11,377
	1,192	Snap-On, Inc.		234,860
	1,232	SPX Corp.*		65,099
	340	Standex International Corp.		28,825
	1,980	Stanley Black & Decker, Inc.		207,623
	537	Tennant Co.		31,817
	1,823	Terex Corp.		49,895
	863	The Greenbrier Cos., Inc.		31,059
	2,219	Timken Co.		117,718
	3,046	Titan International, Inc.*		45,995
	2,441	Toro Co. (The)		185,003
	2,542	Trinity Industries, Inc.		61,567
	1,510	Wabash National Corp.		20,506
	615	Watts Water Technologies, Inc., Class A		75,547
	4,275	Welbilt, Inc.*		101,788
	2,471	Westinghouse Air Brake Technologies Corp.		202,820
	1,534	Woodward, Inc.		141,880
	1,831	Xylem, Inc.		143,148

				9,786,143

Marine (0.1%):
	3,979	Costamare, Inc.		48,146
	239	Eagle Bulk Shipping, Inc.		12,399
	147	Eneti, Inc.		903
	1,300	Genco Shipping & Trading, Ltd.		25,116
	1,654	Kirby Corp.*		100,629
	1,541	Matson, Inc.		112,308

				299,501

Media (1.4%):
	3,595	Altice USA, Inc., Class A*		33,254
	1,413	AMC Networks, Inc., Class A*		41,147
	8,164	Audacy, Inc.*		7,692
	133	Cable One, Inc.		171,480
	1,616	Charter Communications, Inc., Class A*		757,144
	48,635	Comcast Corp., Class A		1,908,437
	2,952	comScore, Inc.*		6,081
	367	DallasNews Corp.		2,323


Shares			Value
Common Stocks, continued
Media, continued
	4,832	DISH Network Corp., Class A*	$	86,638
	2,931	E.W. Scripps Co. (The), Class A*		36,550
	4,792	Entravision Communications Corp., Class A		21,851
	4,335	Fox Corp., Class A		139,414
	3,199	Fox Corp., Class B		95,010
	7,573	Gannett Co, Inc.*		21,962
	2,788	Gray Television, Inc.		47,089
	1,323	iHeartMedia, Inc., Class A*		10,438
	8,756	Interpublic Group of Cos., Inc. (The)		241,053
	864	John Wiley & Sons, Inc., Class A		41,265
	192	John Wiley & Sons, Inc., Class B		9,219
	334	Liberty Broadband Corp., Class A*		37,926
	1,855	Liberty Broadband Corp., Class C*		214,512
	1,489	Liberty Latin America, Ltd.*		11,614
	5,752	Liberty Latin America, Ltd., Class C*		44,808
	2,706	Liberty Media Corp.-Liberty SiriusXM, Class C*		97,551
	1,327	Liberty Media Corp-Liberty SiriusXM, Class A*		47,825
	789	Loyalty Ventures, Inc.*		2,817
	131	Marchex, Inc., Class B*		173
	3,530	New York Times Co. (The), Class A		98,487
	7,458	News Corp., Class A		116,196
	2,563	News Corp., Class B		40,726
	1,296	Nexstar Media Group, Inc., Class A		211,092
	3,505	Omnicom Group, Inc.		222,953
	1,353	Scholastic Corp.		48,667
	10,861	Sirius XM Holdings, Inc.^		66,578
	474	TechTarget, Inc.*		31,151
	7,839	TEGNA, Inc.		164,384
	445	ViacomCBS, Inc., Class A^		12,131
	7,704	ViacomCBS, Inc., Class B		190,135

				5,337,773

Metals & Mining (1.0%):
	5,171	Alcoa Corp.		235,694
	4,528	Allegheny Technologies, Inc.*		102,831
	391	Alpha Metallurgical Resources, Inc.		50,490
	799	Ampco-Pittsburgh Corp.*		3,092
	3,002	Arconic Corp.*		84,206
	1,138	Carpenter Technology Corp.		31,762
	2,210	Century Aluminum Co.*		16,288
	13,357	Cleveland-Cliffs, Inc.*		205,297
	5,449	Coeur Mining, Inc.*		16,565
	3,300	Commercial Metals Co.		109,230
	702	Compass Minerals International, Inc.		24,844
	7,323	Ferroglobe plc*		43,499
	841	Fortitude Gold Corp.		5,046
	13,761	Freeport-McMoRan, Inc.		402,647
	2,945	Gold Resource Corp.		4,800
	943	Haynes International, Inc.		30,902
	14,180	Hecla Mining Co.		55,586
	151	Kaiser Aluminum Corp.		11,943
	643	Materion Corp.		47,408
	12,309	McEwen Mining, Inc.*		5,406
	1,807	MP Materials Corp.*^		57,969
	8,302	Newmont Corp.		495,380
	6,998	Nucor Corp.		730,661
	700	Olympic Steel, Inc.		18,025
	1,439	Reliance Steel & Aluminum Co.		244,429


Shares			Value
Common Stocks, continued
Metals & Mining, continued
	1,422	Royal Gold, Inc.	$	151,841
	1,500	Ryerson Holding Corp.		31,935
	1,365	Schnitzer Steel Industries, Inc., Class A		44,827
	1,446	Southern Copper Corp.		72,025
	6,814	Steel Dynamics, Inc.		450,746
	3,673	SunCoke Energy, Inc.		25,013
	759	Synalloy Corp.*		10,672
	2,052	TimkenSteel Corp.*		38,393
	7,629	United States Steel Corp.		136,635
	548	Universal Stainless & Alloy Products, Inc.*		4,055
	1,489	Warrior Met Coal, Inc.		45,578
	1,135	Worthington Industries, Inc.		50,053

				4,095,773

Multiline Retail (0.7%):
	1,406	Big Lots, Inc.		29,484
	1,248	Dillard’s, Inc., Class A^		275,271
	2,522	Dollar General Corp.		619,000
	3,862	Dollar Tree, Inc.*		601,893
	4,069	Kohl’s Corp.		145,223
	9,155	Macy’s, Inc.		167,719
	1,842	Nordstrom, Inc.		38,921
	1,737	Ollie’s Bargain Outlet Holdings, Inc.*		102,049
	6,131	Target Corp.		865,881

				2,845,441

Multi-Utilities (0.8%):
	2,267	Ameren Corp.		204,846
	1,406	Avista Corp.		61,175
	1,134	Black Hills Corp.		82,521
	5,705	CenterPoint Energy, Inc.		168,754
	2,837	CMS Energy Corp.		191,498
	3,188	Consolidated Edison, Inc.		303,179
	5,526	Dominion Energy, Inc.		441,030
	1,902	DTE Energy Co.		241,079
	5,409	MDU Resources Group, Inc.		145,989
	6,003	NiSource, Inc.		177,028
	993	NorthWestern Corp.		58,517
	4,932	Public Service Enterprise Group, Inc.		312,097
	2,268	Sempra Energy		340,812
	305	Unitil Corp.		17,910
	3,038	WEC Energy Group, Inc.		305,744

				3,052,179

Oil, Gas & Consumable Fuels (5.4%):
	332	Adams Resources & Energy, Inc.		10,687
	10,610	Antero Midstream Corp.		96,021
	7,652	Antero Resources Corp.*		234,534
	7,688	APA Corp.		268,311
	432	Arch Resources, Inc.		61,815
	1,988	Berry Corp.		15,149
	990	California Resources Corp.		38,115
	2,165	Callon Petroleum Co.*		84,868
	6,243	Centennial Resource Development, Inc., Class A*		37,333
	2,557	Cheniere Energy, Inc.		340,158
	1,134	Chesapeake Energy Corp.		91,967
	20,512	Chevron Corp.		2,969,727
	339	Chord Energy Corp.		41,239
	1,149	Civitas Resources, Inc.		60,081


Shares			Value
Common Stocks, continued
Oil, Gas & Consumable Fuels, continued
	7,534	Clean Energy Fuel Corp.*	$	33,752
	6,372	CNX Resources Corp.*		104,883
	7,595	Comstock Resources, Inc.*		91,748
	14,126	ConocoPhillips		1,268,656
	1,846	CONSOL Energy, Inc.*		91,156
	3,878	Continental Resources, Inc.		253,427
	12,392	Coterra Energy, Inc.		319,590
	2,225	CVR Energy, Inc.		74,538
	2,204	Delek US Holdings, Inc.*		56,951
	823	Denbury, Inc.*		49,372
	23,604	Devon Energy Corp.		1,300,816
	5,705	DHT Holdings, Inc.		34,972
	2,202	Diamondback Energy, Inc.		266,772
	58	Dorian LPG, Ltd.		882
	1,795	DT Midstream, Inc.		87,991
	11,550	Enlink Midstream LLC		98,175
	6,280	EOG Resources, Inc.		693,563
	7,807	EQT Corp.		268,561
	7,111	Equitrans Midstream Corp.		45,226
	43,767	Exxon Mobil Corp.		3,748,206
	1,014	Green Plains, Inc.*		27,550
	180	Gulfport Energy Operating Corp.*		14,312
	5,293	Hess Corp.		560,740
	4,760	HF Sinclair Corp.		214,962
	1,180	International Seaways, Inc.		25,016
	15,716	Kinder Morgan, Inc.		263,400
	1,018	Kinetik Holdings, Inc.		34,755
	17,233	Kosmos Energy, Ltd.*		106,672
	609	Laredo Petroleum, Inc.*		41,985
	4,177	Magnolia Oil & Gas Corp., Class A		87,675
	17,859	Marathon Oil Corp.		401,470
	7,572	Marathon Petroleum Corp.		622,494
	3,899	Matador Resources Co.		181,654
	4,219	Murphy Oil Corp.		127,372
	2,184	New Fortress Energy, Inc.		86,421
	17,900	Occidental Petroleum Corp.		1,053,952
	6,100	ONEOK, Inc.		338,550
	4,281	Ovintiv, Inc.		189,177
	2,936	PAR Pacific Holdings, Inc.*		45,772
	3,458	PBF Energy, Inc., Class A*		100,351
	3,014	PDC Energy, Inc.		185,693
	4,173	Peabody Energy Corp.*		89,010
	4,501	Phillips 66		369,037
	1,401	PHX Minerals, Inc.		4,259
	1,849	Pioneer Natural Resources Co.		412,475
	6	PrimeEnergy Resources Corp.*		470
	4,715	Range Resources Corp.*		116,696
	787	Ranger Oil Corp.*		25,869
	374	REX American Resources Corp.*		31,715
	1,682	Scorpio Tankers, Inc.		58,046
	3,507	SFL Corp., Ltd.		33,281
	4,141	SM Energy Co.		141,581
	24,131	Southwestern Energy Co.*		150,819
	3,310	Talos Energy, Inc.*		51,206
	5,703	Targa Resources Corp.		340,298
	6,407	Teekay Shipping Corp.*		18,452
	1,031	Teekay Tankers, Ltd., Class A*		18,177


Shares			Value
Common Stocks, continued
Oil, Gas & Consumable Fuels, continued
	114	Texas Pacific Land Corp.	$	169,634
	4,537	Valero Energy Corp.		482,192
	853	Whiting Petroleum Corp.		58,030
	8,922	Williams Cos., Inc.		278,456
	1,790	World Fuel Services Corp.		36,623

				20,835,541

Paper & Forest Products (0.1%):
	545	Clearwater Paper Corp.*		18,328
	2,520	Glatfelter Corp.		17,338
	3,240	Louisiana-Pacific Corp.		169,809
	3,875	Mercer International, Inc.		50,956
	617	Neenah, Inc.		21,064
	2,344	Resolute Forest Products*		29,910
	665	Schweitzer-Mauduit International, Inc.		16,705
	474	Sylvamo Corp.		15,490

				339,600

Personal Products (0.2%):
	2,327	BellRing Brands, Inc.*		57,919
	12,350	Coty, Inc., Class A*		98,923
	1,291	Edgewell Personal Care Co.		44,565
	854	elf Beauty, Inc.*		26,201
	1,689	Estee Lauder Cos., Inc. (The), Class A		430,138
	2,298	Herbalife Nutrition, Ltd.*		46,994
	594	Inter Parfums, Inc.		43,398
	186	Medifast, Inc.		33,575
	1,236	Natures Sunshine Products, Inc.*		13,188
	1,116	Nu Skin Enterprises, Inc., Class A		48,323
	340	United-Guardian, Inc.		5,097
	645	Usana Health Sciences, Inc.*		46,672

				894,993

Pharmaceuticals (3.9%):
	2,003	Amphastar Pharmaceuticals, Inc.*		69,684
	900	ANI Pharmaceuticals, Inc.*		26,703
	885	Assembly Biosciences, Inc.*		1,859
	21,098	Bristol-Myers Squibb Co.		1,624,546
	2,125	Catalent, Inc.*		227,991
	1,951	Corcept Therapeutics, Inc.*		46,395
	1,468	Cumberland Pharmaceuticals, Inc.*		3,046
	1,054	Cymabay Therapeutics, Inc.*		3,109
	6,155	Elanco Animal Health, Inc.*		120,823
	7,636	Eli Lilly & Co.		2,475,820
	8,827	Endo International plc*		4,111
	1,104	Harmony Biosciences Holdings, Inc.*		53,842
	2,007	Horizon Therapeutics plc*		160,078
	3,292	Innoviva, Inc.*		48,590
	1,338	Intra-Cellular Therapies, Inc.*		76,373
	1,190	Jazz Pharmaceuticals plc*		185,652
	22,800	Johnson & Johnson		4,047,228
	20,164	Merck & Co., Inc.		1,838,352
	3,567	Nektar Therapeutics*		13,555
	4,552	Organon & Co.		153,630
	1,317	Otonomy, Inc.*		2,739
	567	Pacira BioSciences, Inc.*		33,056
	3,223	Perrigo Co. plc		130,757
	46,606	Pfizer, Inc.		2,443,553
	793	Phibro Animal Health Corp., Class A		15,170


Shares			Value
Common Stocks, continued
Pharmaceuticals, continued
	1,580	Prestige Consumer Healthcare, Inc.*	$	92,904
	4,082	Royalty Pharma plc, Class A		171,607
	1,789	Supernus Pharmaceuticals, Inc.*		51,738
	923	Taro Pharmaceutical Industries, Ltd.*		33,376
	14,776	Viatris, Inc.		154,705
	4,336	Zoetis, Inc.		745,315

				15,056,307

Professional Services (1.0%):
	1,184	ASGN, Inc.*		106,856
	494	Barrett Business Services, Inc.		35,998
	3,115	Booz Allen Hamilton Holding Corp.		281,471
	549	CACI International, Inc., Class A*		154,697
	1,617	CBIZ, Inc.*		64,615
	2,143	Clarivate plc*		29,702
	3,570	CoStar Group, Inc.*		215,664
	456	CRA International, Inc.		40,730
	6,802	Dun & Bradstreet Holdings, Inc.*		102,234
	1,531	Equifax, Inc.		279,836
	1,104	Exponent, Inc.		100,983
	825	Forrester Research, Inc.*		39,468
	723	FTI Consulting, Inc.*		130,755
	421	Heidrick & Struggles International, Inc.		13,624
	466	Hill International, Inc.*		783
	660	Huron Consulting Group, Inc.*		42,894
	329	ICF International, Inc.		31,255
	514	Insperity, Inc.		51,313
	1,326	Jacobs Engineering Group, Inc.		168,574
	3,410	KBR, Inc.		165,010
	1,042	Kelly Services, Inc., Class A		20,663
	577	Kforce, Inc.		35,393
	1,558	Korn Ferry		90,395
	1,762	Leidos Holdings, Inc.		177,451
	1,391	ManpowerGroup, Inc.		106,286
	840	ManTech International Corp., Class A		80,178
	659	Mistras Group, Inc.*		3,915
	10,088	Nielsen Holdings plc		234,243
	2,125	Resources Connection, Inc.		43,286
	2,809	Robert Half International, Inc.		210,366
	1,873	Science Applications International Corp.		174,376
	2,327	TransUnion		186,137
	1,673	TriNet Group, Inc.*		129,858
	1,029	TrueBlue, Inc.*		18,419
	1,755	Verisk Analytics, Inc.		303,773
	633	Willdan Group, Inc.*		17,458

				3,888,659

Real Estate Management & Development (0.3%):
	4,164	CBRE Group, Inc., Class A*		306,512
	2,451	Cushman & Wakefield plc*		37,353
	1,549	Douglas Elliman, Inc.		7,420
	1,163	eXp World Holdings, Inc.^		13,689
	279	Forestar Group, Inc.*		3,820
	232	FRP Holdings, Inc.*		14,001
	1,280	Howard Hughes Corp. (The)*		87,104
	954	Jones Lang LaSalle, Inc.*		166,817
	4,260	Kennedy-Wilson Holdings, Inc.		80,684
	977	Marcus & Millichap, Inc.		36,139


Shares			Value
Common Stocks, continued
Real Estate Management & Development, continued
	5,729	Newmark Group, Inc.	$	55,399
	997	Rafael Holdings, Inc., Class B*		1,864
	910	RE/MAX Holdings, Inc., Class A		22,313
	3,814	Realogy Holdings Corp.*		37,492
	681	Redfin Corp.*		5,611
	1,447	Tejon Ranch Co.*		22,457
	357	The RMR Group, Inc., Class A		10,121
	1,857	The St Joe Co.		73,463
	642	Zillow Group, Inc., Class A*		20,422
	1,617	Zillow Group, Inc., Class C*^		51,340

				1,054,021

Road & Rail (1.2%):
	346	AMERCO, Inc.		165,468
	757	ArcBest Corp.		53,270
	1,653	Avis Budget Group, Inc.*		243,123
	419	Covenant Logistics Group, Inc.		10,513
	19,368	CSX Corp.		562,834
	1,925	Heartland Express, Inc.		26,777
	1,793	J.B. Hunt Transport Services, Inc.		282,344
	4,311	Knight-Swift Transportation Holdings, Inc.		199,556
	896	Landstar System, Inc.		130,296
	3,089	Lyft, Inc., Class A*		41,022
	2,410	Marten Transport, Ltd.		40,536
	2,245	Norfolk Southern Corp.		510,266
	1,374	Old Dominion Freight Line, Inc.		352,129
	1,600	PAM Transportation Services, Inc.*		43,824
	1,902	Ryder System, Inc.		135,156
	576	Saia, Inc.*		108,288
	2,500	Schneider National, Inc., Class B		55,950
	6,290	Uber Technologies, Inc.*		128,693
	7,472	Union Pacific Corp.		1,593,628
	586	Universal Logistics Holdings, Inc.		16,004
	1,023	USA Truck, Inc.*		32,143
	2,378	Werner Enterprises, Inc.		91,648
	1,829	Yellow Corp.*		5,359

				4,828,827

Semiconductors & Semiconductor Equipment (4.8%):
	870	Advanced Energy Industries, Inc.		63,493
	13,952	Advanced Micro Devices, Inc.*		1,066,909
	1,120	Alpha & Omega Semiconductor, Ltd.*		37,341
	630	Ambarella, Inc.*		41,240
	8,710	Amkor Technology, Inc.		147,634
	3,845	Analog Devices, Inc.		561,716
	8,530	Applied Materials, Inc.		776,059
	608	Axcelis Technologies, Inc.*		33,343
	1,701	AXT, Inc.*		9,968
	1,411	Azenta, Inc.		101,733
	4,534	Broadcom, Inc.		2,202,663
	437	CEVA, Inc.*		14,666
	1,136	Cirrus Logic, Inc.*		82,405
	697	CMC Materials, Inc.		121,620
	2,261	Cohu, Inc.*		62,743
	1,027	Diodes, Inc.*		66,313
	1,101	Enphase Energy, Inc.*		214,959
	1,512	Entegris, Inc.		139,301
	2,177	First Solar, Inc.*		148,319


Shares			Value
Common Stocks, continued
Semiconductors & Semiconductor Equipment, continued
	1,662	FormFactor, Inc.*	$	64,369
	1,314	GSI Technology, Inc.*		4,533
	948	Ichor Holdings, Ltd.*		24,629
	55,883	Intel Corp.		2,090,583
	1,736	KLA Corp.		553,923
	1,562	Kulicke & Soffa Industries, Inc.		66,869
	1,575	Lam Research Corp.		671,186
	1,316	Lattice Semiconductor Corp.*		63,826
	876	MACOM Technology Solutions Holdings, Inc.*		40,384
	4,801	Marvell Technology, Inc.		208,988
	1,132	MaxLinear, Inc., Class A*		38,465
	5,862	Microchip Technology, Inc.		340,465
	15,498	Micron Technology, Inc.		856,729
	1,341	MKS Instruments, Inc.		137,627
	242	Monolithic Power Systems, Inc.		92,938
	1,500	Neophotonics Corp.*		23,595
	150	NVE Corp.		6,993
	15,541	NVIDIA Corp.		2,355,860
	892	NXP Semiconductors NV		132,043
	5,936	ON Semiconductor Corp.*		298,640
	1,334	Onto Innovation, Inc.*		93,033
	1,438	PDF Solutions, Inc.*		30,931
	2,358	Photronics, Inc.*		45,934
	1,116	Power Integrations, Inc.		83,711
	1,567	Qorvo, Inc.*		147,799
	11,228	Qualcomm, Inc.		1,434,265
	2,888	Rambus, Inc.*		62,063
	1,305	Semtech Corp.*		71,736
	867	Silicon Laboratories, Inc.*		121,571
	2,322	Skyworks Solutions, Inc.		215,110
	1,050	SMART Global Holdings, Inc.*		17,189
	419	SolarEdge Technologies, Inc.*		114,672
	834	Synaptics, Inc.*		98,454
	2,449	Teradyne, Inc.		219,308
	10,811	Texas Instruments, Inc.		1,661,110
	1,251	Ultra Clean Holdings, Inc.*		37,242
	885	Universal Display Corp.		89,509
	1,442	Veeco Instruments, Inc.*		27,975
	1,114	Wolfspeed, Inc.*		70,683

				18,607,365

Software (6.4%):
	3,453	ACI Worldwide, Inc.*		89,398
	3,583	Adobe, Inc.*		1,311,593
	695	Alarm.com Holdings, Inc.*		42,993
	583	Altair Engineering, Inc.*		30,607
	1,009	American Software, Inc., Class A		16,305
	734	ANSYS, Inc.*		175,639
	591	Aspen Technology, Inc.*		108,555
	1,215	Atlassian Corp. plc, Class A*		227,691
	1,957	Autodesk, Inc.*		336,526
	813	Avalara, Inc.*		57,398
	1,879	Avaya Holdings Corp.*		4,209
	2,272	Aware, Inc.*		5,407
	1,257	Bentley Systems, Inc., Class B		41,858
	691	Bill.com Holdings, Inc.*		75,968
	1,196	Blackbaud, Inc.*		69,452
	2,029	Box, Inc.*		51,009


Shares			Value
Common Stocks, continued
Software, continued
	1,838	Cadence Design Systems, Inc.*	$	275,755
	2,601	CDK Global, Inc.		142,457
	820	Cerence, Inc.*		20,689
	1,198	Ceridian HCM Holding, Inc.*		56,402
	1,606	Citrix Systems, Inc.		156,055
	519	Cloudflare, Inc., Class A*		22,706
	1,830	Cognyte Software, Ltd.*		7,777
	505	CommVault Systems, Inc.*		31,764
	491	Consensus Cloud Solutions, Inc.*		21,447
	639	Coupa Software, Inc.*		36,487
	487	Crowdstrike Holdings, Inc., Class A*		82,089
	638	Datadog, Inc., Class A*		60,763
	513	DocuSign, Inc.*		29,436
	2,137	DoubleVerify Holdings, Inc.*		48,446
	5,645	Dropbox, Inc., Class A*		118,489
	1,675	Duck Creek Technologies, Inc.*^		24,874
	1,822	Dynatrace, Inc.*		71,860
	1,380	Ebix, Inc.		23,322
	622	Elastic NV*		42,091
	990	Envestnet, Inc.*		52,242
	429	Everbridge, Inc.*		11,965
	441	Fair Isaac Corp.*		176,797
	337	Five9, Inc.*		30,714
	6,180	Fortinet, Inc.*		349,664
	485	Globant SA*		84,390
	1,145	Guidewire Software, Inc.*		81,284
	179	HubSpot, Inc.*		53,816
	1,326	Intuit, Inc.		511,093
	1,266	Jamf Holding Corp.*		31,359
	1,784	Mandiant, Inc.*		38,927
	811	Manhattan Associates, Inc.*		92,941
	59,524	Microsoft Corp.		15,287,549
	1,654	N-Able, Inc.*		14,886
	5,406	NortonLifeLock, Inc.		118,716
	879	OneSpan, Inc.*		10,460
	11,328	Oracle Corp.		791,487
	7,336	Palantir Technologies, Inc., Class A*		66,537
	256	Palo Alto Networks, Inc.*		126,449
	513	Paycom Software, Inc.*		143,702
	443	Paylocity Holding Corp.*		77,268
	565	Pegasystems, Inc.		27,030
	947	Progress Software Corp.		42,899
	1,146	PTC, Inc.*		121,866
	389	Q2 Holdings, Inc.*		15,004
	894	Qualys, Inc.*		112,769
	899	Sailpoint Technologies Holdings, Inc.*		56,349
	5,162	Salesforce, Inc.*		851,936
	1,200	Sapiens International Corp. NV		29,028
	512	ServiceNow, Inc.*		243,466
	710	Splunk, Inc.*		62,807
	347	SPS Commerce, Inc.*		39,228
	3,224	SS&C Technologies Holdings, Inc.		187,218
	2,279	Synchronoss Technologies, Inc.*		2,621
	851	Synopsys, Inc.*		258,449
	1,923	The Trade Desk, Inc., Class A*		80,554
	328	Tyler Technologies, Inc.*		109,053
	537	Unity Software, Inc.*^		19,772
	1,022	Verint Systems, Inc.*		43,282


Shares			Value
Common Stocks, continued
Software, continued
	1,567	VMware, Inc., Class A	$	178,607
	2,930	Vonage Holdings Corp.*		55,201
	758	Workday, Inc., Class A*		105,802
	7,046	Xperi Holding Corp.		101,674
	645	Zendesk, Inc.*		47,775
	185	Zoom Video Communications, Inc., Class A*		19,974
	566	Zscaler, Inc.*		84,623

				24,966,750

Specialty Retail (2.3%):
	1,093	Aaron’s Co., Inc. (The)		15,903
	2,382	Abercrombie & Fitch Co., Class A*		40,303
	1,111	Advance Auto Parts, Inc.		192,303
	5,007	American Eagle Outfitters, Inc.		55,978
	200	America’s Car-Mart, Inc.*		20,120
	793	Asbury Automotive Group, Inc.*		134,287
	2,111	AutoNation, Inc.*		235,925
	147	AutoZone, Inc.*		315,921
	3,164	Barnes & Noble Education, Inc.*		9,271
	1,784	Bath & Body Works, Inc.		48,025
	3,437	Bed Bath & Beyond, Inc.*^		17,082
	4,465	Best Buy Co., Inc.		291,073
	1,657	Big 5 Sporting Goods Corp.^		18,575
	841	Boot Barn Holdings, Inc.*		57,953
	583	Build-A-Bear Workshop, Inc.		9,573
	760	Burlington Stores, Inc.*		103,535
	2,280	Caleres, Inc.		59,827
	2,685	CarMax, Inc.*		242,939
	155	Carvana Co.*^		3,500
	1,987	Cato Corp., Class A		23,069
	7,822	Chico’s FAS, Inc.*		38,875
	566	Citi Trends, Inc.*^		13,386
	1,572	Conn’s, Inc.*^		12,608
	3,425	Designer Brands, Inc., Class A		44,731
	2,039	Dick’s Sporting Goods, Inc.^		153,679
	1,082	Five Below, Inc.*		122,731
	2,136	Floor & Decor Holdings, Inc., Class A*		134,483
	3,374	Foot Locker, Inc.		85,194
	8,563	Gap, Inc. (The)		70,559
	435	Genesco, Inc.*		21,711
	630	Group 1 Automotive, Inc.		106,974
	2,846	Guess?, Inc.		48,524
	583	Haverty Furniture Cos., Inc.		13,514
	499	Hibbett, Inc.		21,811
	7,303	Home Depot, Inc. (The)		2,002,994
	2,840	Leslie’s, Inc.*		43,111
	717	Lithia Motors, Inc.		197,039
	4,751	Lowe’s Cos., Inc.		829,857
	527	MarineMax, Inc.*		19,035
	751	Monro, Inc.		32,203
	777	Murphy U.S.A., Inc.		180,940
	1,200	National Vision Holdings, Inc.*		33,000
	1,542	ODP Corp. (The)*		46,630
	465	O’Reilly Automotive, Inc.*		293,768
	1,891	Penske Automotive Group, Inc.		197,969
	1,792	Rent-A-Center, Inc.		34,854
	426	RH*		90,423
	4,943	Ross Stores, Inc.		347,147
	1,832	Sally Beauty Holdings, Inc.*		21,837


Shares			Value
Common Stocks, continued
Specialty Retail, continued
	1,200	Shoe Carnival, Inc.	$	25,932
	1,393	Signet Jewelers, Ltd.		74,470
	472	Sleep Number Corp.*		14,608
	844	Sonic Automotive, Inc., Class A		30,916
	1,606	Sportsman’s Warehouse Holdings, Inc.*		15,402
	1,722	The Buckle, Inc.		47,682
	501	The Children’s Place, Inc.*		19,499
	854	Tilly’s, Inc.		5,995
	10,789	TJX Cos., Inc. (The)		602,566
	1,642	Tractor Supply Co.		318,302
	792	Ulta Beauty, Inc.*		305,300
	2,187	Urban Outfitters, Inc.*		40,809
	594	Victoria’s Secret & Co.*		16,614
	1,871	Williams-Sonoma, Inc.		207,588
	75	Winmark Corp.		14,668
	729	Zumiez, Inc.*		18,954

				8,914,054

Technology Hardware, Storage & Peripherals (5.3%):
	2,378	3D Systems Corp.*		23,067
	138,999	Apple, Inc.		19,003,943
	728	AstroNova, Inc.*		8,721
	1,682	Avid Technology, Inc.*		43,648
	4,284	Dell Technologies, Inc., Class C		197,964
	15,707	Hewlett Packard Enterprise Co.		208,275
	10,874	HP, Inc.		356,450
	4,627	NCR Corp.*		143,946
	2,576	NetApp, Inc.		168,058
	4,094	Pure Storage, Inc., Class A*		105,257
	2,694	Seagate Technology Holdings plc		192,459
	1,794	Stratasys, Ltd.*		33,620
	401	Super Micro Computer, Inc.*		16,180
	4,585	Western Digital Corp.*		205,545
	4,758	Xerox Holdings Corp.		70,656

				20,777,789

Textiles, Apparel & Luxury Goods (0.8%):
	3,367	Capri Holdings, Ltd.*		138,081
	1,250	Carter’s, Inc.		88,100
	1,677	Columbia Sportswear Co.		120,040
	1,057	Crocs, Inc.*		51,444
	810	Culp, Inc.		3,483
	624	Deckers Outdoor Corp.*		159,338
	1,494	Fossil Group, Inc.*		7,724
	2,480	G-III Apparel Group, Ltd.*		50,170
	9,857	Hanesbrands, Inc.		101,428
	1,206	Kontoor Brands, Inc.		40,244
	1,887	Levi Strauss & Co.		30,796
	898	Lululemon Athletica, Inc.*		244,804
	1,088	Movado Group, Inc.		33,652
	10,496	NIKE, Inc., Class B		1,072,691
	405	Oxford Industries, Inc.		35,940
	1,441	PVH Corp.		81,993
	1,225	Ralph Lauren Corp.		109,821
	570	Rocky Brands, Inc.		19,483
	3,202	Skechers U.S.A., Inc., Class A*		113,927
	1,560	Steven Madden, Ltd.		50,247
	700	Superior Group of Cos., Inc.		12,425
	6,144	Tapestry, Inc.		187,515
	3,369	Under Armour, Inc., Class A*		28,064


Shares			Value
Common Stocks, continued
Textiles, Apparel & Luxury Goods, continued
	3,746	Under Armour, Inc., Class C*	$	28,395
	1,027	Unifi, Inc.*		14,440
	802	Vera Bradley, Inc.*		3,481
	3,169	VF Corp.		139,975
	1,153	Wolverine World Wide, Inc.		23,244

				2,990,945

Thrifts & Mortgage Finance (0.5%):
	1,866	Axos Financial, Inc.*		66,896
	1,591	BankFinancial Corp.		14,939
	3,362	Capitol Federal Financial, Inc.		30,863
	2,223	Columbia Financial, Inc.*		48,484
	855	ESSA Bancorp, Inc.		14,364
	3,469	Essent Group, Ltd.		134,944
	403	Federal Agricultural Mortgage Corp.		39,353
	408	First Capital, Inc.		11,053
	1,989	Flagstar Bancorp, Inc.		70,510
	8	Greene County Bancorp, Inc.		362
	62	Hingham Institution for Savings (The)		17,594
	628	HomeStreet, Inc.		21,773
	413	IF Bancorp, Inc.		7,847
	2,442	Kearny Financial Corp.		27,131
	1,249	Kentucky First Federal Bancorp		9,954
	750	Lake Shore Bancorp, Inc.		10,500
	194	LendingTree, Inc.*		8,501
	1,240	Meta Financial Group, Inc.		47,951
	10,413	MGIC Investment Corp.		131,204
	2,681	Mr Cooper Group, Inc.*		98,500
	11,597	New York Community Bancorp, Inc.		105,881
	2,461	NMI Holdings, Inc., Class A*		40,976
	1,501	Northfield Bancorp, Inc.		19,558
	3,456	Northwest Bancshares, Inc.		44,237
	1,932	Oceanfirst Financial Corp.		36,959
	503	Oconee Federal Financial Corp.		11,116
	465	Ocwen Financial Corp.*		12,741
	1,203	PennyMac Financial Services, Inc.		52,583
	1,369	Premier Financial Corp.		34,704
	679	Provident Financial Holdings, Inc.		10,070
	2,256	Provident Financial Services, Inc.		50,218
	5,556	Radian Group, Inc.		109,175
	420	Riverview Bancorp, Inc.		2,764
	4,694	Rocket Cos., Inc., Class A^		34,548
	561	Southern Missouri Bancorp, Inc.		25,391
	1,764	Sterling Bancorp, Inc.*		10,055
	733	Territorial Bancorp, Inc.		15,283
	4,281	TFS Financial Corp.		58,778
	559	TrustCo Bank Corp. NY		17,239
	1,074	Walker & Dunlop, Inc.		103,469
	2,436	Washington Federal, Inc.		73,129
	728	Waterstone Financial, Inc.		12,412
	1,498	Western New England BanCorp, Inc.		11,175
	1,909	WSFS Financial Corp.		76,532

				1,781,716

Tobacco (0.4%):
	12,442	Altria Group, Inc.		519,702
	10,451	Philip Morris International, Inc.		1,031,932
	518	Universal Corp.		31,339
	3,098	Vector Group, Ltd.		32,529

				1,615,502


Shares			Value
Common Stocks, continued
Trading Companies & Distributors (0.7%):
	3,334	Air Lease Corp.	$	111,456
	948	Applied Industrial Technologies, Inc.		91,169
	2,106	Beacon Roofing Supply, Inc.*		108,164
	1,071	Boise Cascade Co.		63,714
	644	DXP Enterprises, Inc.*		19,726
	7,240	Fastenal Co.		361,421
	876	GATX Corp.		82,484
	977	Global Industrial Co.		32,993
	1,243	GMS, Inc.*		55,313
	1,047	H&E Equipment Services, Inc.		30,332
	958	Herc Holdings, Inc.		86,364
	870	Kaman Corp., Class A		27,188
	2,381	MRC Global, Inc.*		23,715
	1,149	MSC Industrial Direct Co., Inc.		86,301
	3,189	NOW, Inc.*		31,188
	1,547	Rush Enterprises, Inc., Class A		74,565
	365	Rush Enterprises, Inc., Class B		18,108
	1,003	SiteOne Landscape Supply, Inc.*		119,227
	1,757	Textainer Group Holdings, Ltd.		48,159
	651	Titan Machinery, Inc.*		14,589
	173	Transcat, Inc.*		9,828
	2,472	Triton International, Ltd.		130,151
	1,712	United Rentals, Inc.*		415,862
	3,997	Univar Solutions, Inc.*		99,405
	1,184	Veritiv Corp.*		128,523
	744	W.W. Grainger, Inc.		338,096
	662	Watsco, Inc.		158,099
	84	Watsco, Inc., Class B		19,874
	1,396	WESCO International, Inc.*		149,512

				2,935,526

Water Utilities (0.2%):
	830	American States Water Co.		67,653
	1,750	American Water Works Co., Inc.		260,348
	491	Artesian Resources Corp.		24,142
	1,107	California Water Service Group		61,494
	2,315	Essential Utilities, Inc.		106,143
	355	Middlesex Water Co.		31,126
	669	Pure Cycle Corp.*		7,051
	498	SJW Group		31,080
	372	York Water Co. (The)		15,040

				604,077


Shares or Principal Amount			Value
Common Stocks, continued
Wireless Telecommunication Services (0.2%):
	2,565	Gogo, Inc.*	$	41,527
	1,333	Shenandoah Telecommunications Co.		29,593
	1,649	Spok Holdings, Inc.		10,389
	2,954	Telephone & Data Systems, Inc.		46,644
	6,034	T-Mobile US, Inc.*		811,814
	1,151	United States Cellular Corp.*		33,333

				973,300

	Total Common Stocks (Cost $253,033,170)			387,563,078

Preferred Stock (0.1%):
Trading Companies & Distributors (0.1%):
	1,076	WESCO International, Inc., Series A		29,504

	Total Preferred Stock (Cost $28,514)			29,504

Rights (0.0%^†):
Biotechnology (0.0%^†):
	3,743	Achillion Pharm CVR, Expires on 1/29/49*		5,427

Health Care (0.0%^†):
	1,297	Zogenix, Inc. CVR, Expires on 1/1/25*(a)		882

Household Durables (0.0%^†):
	1,918	Zagg, Inc. CVR, Expires on 1/2/49*(a)		173

Trading Companies & Distributors (0.0%^†):
	79	Communications Systems I CVR, Expires on 1/1/29*		—

	Total Rights (Cost $173)			6,482

Short-Term Security Held as Collateral for Securities on Loan (0.4%):
	1,623,672	BlackRock Liquidity FedFund, Institutional Class , 0.19%(b)(c)		1,623,672

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $1,623,672)			1,623,672

Unaffiliated Investment Company (0.4%):
Money Markets (0.4%):
	1,648,374	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(c)		1,648,374

	Total Unaffiliated Investment Company (Cost $1,648,374)			1,648,374

	Total Investment Securities (Cost $256,333,903) — 100.5%			390,871,110
	Net other assets (liabilities) — (0.5)%			(1,772,683	)

	Net Assets — 100.0%		$	389,098,427

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	256,333,903

Investment securities, at value(a)	$	390,871,110
Interest and dividends receivable		272,151
Receivable for investments sold		110,307
Reclaims receivable		2,647
Prepaid expenses		1,209

Total Assets		391,257,424

Liabilities:
Cash overdraft		7,298
Payable for investments purchased		201,491
Payable for collateral received on loaned securities		1,623,672
Manager fees payable		179,104
Administration fees payable		50,138
Distribution fees payable		82,918
Custodian fees payable		1,144
Administrative and compliance services fees payable		452
Transfer agent fees payable		969
Trustee fees payable		3,841
Other accrued liabilities		7,970

Total Liabilities		2,158,997

Net Assets	$	389,098,427

Net Assets Consist of:
Paid in capital	$	186,457,492
Total distributable earnings		202,640,935

Net Assets	$	389,098,427

Shares of beneficial interest (unlimited number of shares authorized, no par value)		28,345,618
Net Asset Value (offering and redemption price per share)	$	13.73

(a)	Includes securities on loan of $1,536,030.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Dividends	$	3,532,011
Income from securities lending		2,282
Foreign withholding tax		(1,128	)

Total Investment Income		3,533,165

Expenses:
Management fees		1,777,935
Administration fees		51,107
Distribution fees		555,604
Custodian fees		5,168
Administrative and compliance services fees		2,781
Transfer agent fees		2,856
Trustee fees		10,993
Professional fees		8,885
Shareholder reports		2,888
Other expenses		5,267

Total expenses before reductions		2,423,484
Less Management fees contractually waived		(577,830	)

Net Expenses		1,845,654

Net Investment Income/(Loss)		1,687,511

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities and foreign currencies		12,834,784
Change in net unrealized appreciation/depreciation on securities and foreign currencies		(105,666,889	)

Net realized and Change in net unrealized gains/losses on investments		(92,832,105	)

Change in Net Assets Resulting From Operations	$	(91,144,594	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services — Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL DFA U.S. Core Equity Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

Expenses directly attributable to the Fund are charged directly to the Fund, while expenses attributable to more than one Fund are allocated among the respective Funds based upon relative net assets or some other reasonable method. Expenses which are attributable to more than one Trust are allocated across the Allianz Variable Insurance Products Trust,

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $249 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $1,623,672 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

Value Stocks Risk: Value stocks may perform differently from the market as a whole and following a value-oriented investment strategy may cause the Fund to at times underperform equity funds that use other investment strategies.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $267,288,229. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had an individual shareholder account which is affiliated with the Manager representing ownership in excess of 70% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

As a shareholder of the AZL DFA U.S. Small Cap Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.

The Actual Expense table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.


Shares			Value
Common Stocks (99.7%):
Aerospace & Defense (1.2%):
	2,230	AAR Corp.*	$	93,303
	4,501	Aerojet Rocketdyne Holdings, Inc.*		182,741
	1,828	AeroVironment, Inc.*		150,262
	2,615	Astronics Corp.*		26,594
	392	Astronics Corp., Class B*		3,767
	2,196	BWX Technologies, Inc.		120,978
	1,113	Curtiss-Wright Corp.		146,983
	766	Ducommun, Inc.*		32,969
	2,314	Hexcel Corp.		121,045
	3,376	Innovative Solutions & Support, Inc.*		24,307
	6,280	Kratos Defense & Security Solutions, Inc.*		87,166
	1,825	Maxar Technologies, Inc.		47,614
	1,336	Mercury Systems, Inc.*		85,945
	1,513	Moog, Inc., Class A		120,117
	516	National Presto Industries, Inc.		33,870
	2,564	Park Aerospace Corp., Class C		32,717
	1,291	Parsons Corp.*		52,182
	759	Vectrus, Inc.*		25,396

				1,387,956

Air Freight & Logistics (0.5%):
	738	Air T, Inc.		12,148
	5,302	Air Transport Services Group, Inc.*		152,326
	743	Atlas Air Worldwide Holdings, Inc.*		45,851
	1,567	Forward Air Corp.		144,101
	242	GXO Logistics, Inc.*		10,471
	1,957	Hub Group, Inc., Class A*		138,830
	5,212	Radiant Logistics, Inc.*		38,673
	1,561	XPO Logistics, Inc.*		75,178

				617,578

Airlines (0.7%):
	7,882	Alaska Air Group, Inc.*		315,674
	1,401	Allegiant Travel Co.*		158,439
	899	Copa Holdings SA, Class A*		56,970
	3,192	Hawaiian Holdings, Inc.*		45,678
	12,473	JetBlue Airways Corp.*		104,399
	2,017	SkyWest, Inc.*		42,861
	4,325	Spirit Airlines, Inc.*		103,108

				827,129

Auto Components (1.2%):
	4,444	Adient plc*		131,676
	4,351	American Axle & Manufacturing Holdings, Inc.*		32,763
	151	Autoliv, Inc.		10,807
	2,031	Cooper-Standard Holdings, Inc.*		10,135
	7,251	Dana, Inc.		102,022
	1,611	Dorman Products, Inc.*		176,743
	2,028	Fox Factory Holding Corp.*		163,335
	570	Gentex Corp.		15,943
	1,825	Gentherm, Inc.*		113,898
	14,426	Goodyear Tire & Rubber Co. (The)*		154,502
	1,306	LCI Industries		146,115
	4,052	Modine Manufacturing Co.*		42,668
	1,911	Motorcar Parts of America, Inc.*		25,072
	928	Patrick Industries, Inc.		48,107
	1,385	Standard Motor Products, Inc.		62,311
	1,639	Stoneridge, Inc.*		28,109


Shares			Value
Common Stocks, continued
Auto Components, continued
	1,139	Tenneco, Inc.*	$	19,545
	1,448	Visteon Corp.*		149,984

				1,433,735

Automobiles (0.2%):
	4,267	Harley-Davidson, Inc.		135,093
	948	Thor Industries, Inc.		70,844
	1,823	Winnebago Industries, Inc.		88,525

				294,462

Banks (11.9%):
	1,184	1st Source Corp.		53,754
	410	ACNB Corp.		12,173
	880	Allegiance Bancshares, Inc.		33,229
	600	Amalgamated Financial Corp.		11,868
	846	Amerant Bancorp, Inc.		23,790
	939	American National Bankshares, Inc.		32,499
	4,283	Ameris Bancorp		172,091
	1,149	Ames National Corp.		25,485
	981	Arrow Financial Corp.		31,206
	9,622	Associated Banc-Corp.		175,698
	4,960	Atlantic Union Bankshares Corp.		168,243
	13	Auburn National BanCorp, Inc.		352
	3,921	Banc of California, Inc.		69,088
	1,785	BancFirst Corp.		170,842
	3,525	Bancorp, Inc. (The)*		68,808
	2,673	Bank of Hawaii Corp.		198,871
	1,191	Bank of Marin Bancorp		37,850
	2,482	Bank of NT Butterfield & Son, Ltd. (The)		77,414
	485	Bank of South Carolina Corp.		8,439
	6,495	Bank OZK		243,757
	4,416	BankUnited, Inc.		157,077
	2,207	Banner Corp.		124,055
	872	Bar Harbor Bankshares		22,550
	1,217	Baycom Corp.		25,168
	595	BCB Bancorp, Inc.		10,133
	2,938	Berkshire Hills Bancorp, Inc.		72,774
	2,703	BOK Financial Corp.		204,293
	3,537	Brookline Bancorp, Inc.		47,077
	667	Business First Bancshares, Inc.		14,214
	2,546	Byline BanCorp, Inc.		60,595
	227	C&F Financial Corp.		10,435
	10,228	Cadence Bank		240,153
	436	Cambridge Bancorp		36,057
	1,059	Camden National Corp.		46,649
	1,471	Capital City Bank Group, Inc.		41,026
	700	Capstar Financial Holdings, Inc.		13,734
	3,988	Cathay General Bancorp		156,130
	1,646	CBTX, Inc.		43,767
	1,822	Central Pacific Financial Corp.		39,082
	1,141	Central Valley Community Bancorp		16,544
	668	Chemung Financial Corp.		31,396
	1,509	Citizens & Northern Corp.		36,473
	718	Citizens Holding Co.		13,139
	798	City Holding Co.		63,744
	822	Civista Bancshares, Inc.		17,476
	1,205	CNB Financial Corp.		29,149
	271	Coastal Financial Corp.*		10,331


Shares			Value
Common Stocks, continued
Banks, continued
	85	Codorus Valley Bancorp, Inc.	$	1,913
	56	Colony Bankcorp, Inc.		845
	4,190	Columbia Banking System, Inc.		120,043
	2,562	Community Bank System, Inc.		162,123
	1,343	Community Trust Bancorp, Inc.		54,311
	525	Community West Bancshares		7,513
	2,115	ConnectOne Bancorp, Inc.		51,712
	2,253	CrossFirst Bankshares, Inc.*		29,740
	256	Cullen/Frost Bankers, Inc.		29,811
	2,120	Customers Bancorp, Inc.*		71,868
	6,743	CVB Financial Corp.		167,294
	2,220	Dime Community Bancshares, Inc.		65,823
	609	Eagle Bancorp Montana, Inc.		12,125
	1,599	Eagle Bancorp, Inc.		75,809
	2,149	Enterprise Financial Services Corp.		89,183
	924	Equity Bancshares, Inc.		26,944
	534	Evans Bancorp, Inc.		18,151
	16,632	F.N.B. Corp.		180,624
	2,582	Farmers National Banc Corp.		38,730
	2,391	FB Financial Corp.		93,775
	1,248	Financial Institutions, Inc.		32,473
	10,810	First BanCorp		139,557
	1,106	First Bancorp, Inc. (The)		33,324
	1,761	First Bancorp/Southern Pines NC		61,459
	1,053	First Bancshares, Inc. (The)		30,116
	2,776	First Busey Corp.		63,432
	940	First Business Financial Services, Inc.		29,319
	4,622	First Commonwealth Financial Corp.		62,027
	1,099	First Community Bankshares		32,322
	4,894	First Financial Bancorp		94,944
	3,009	First Financial Bankshares, Inc.		118,163
	812	First Financial Corp.		36,134
	1,717	First Financial Northwest, Inc.		26,682
	2,543	First Foundation, Inc.		52,081
	6,483	First Hawaiian, Inc.		147,229
	402	First Internet BanCorp		14,802
	4,476	First Interstate BancSystem, Inc., Class A		170,580
	2,751	First Merchants Corp.		97,991
	720	First Mid Bancshares, Inc.		25,682
	1,367	First of Long Island Corp. (The)		23,963
	84	First Savings Financial Group, Inc.		2,011
	234	First United Corp.		4,390
	908	First US Bancshares, Inc.		9,988
	1,779	Flushing Financial Corp.		37,822
	8,311	Fulton Financial Corp.		120,094
	1,637	German American Bancorp, Inc.		55,953
	5,467	Glacier Bancorp, Inc.		259,245
	1,038	Great Southern Bancorp, Inc.		60,785
	440	Guaranty Bancshares, Inc.		15,950
	4,491	Hancock Whitney Corp.		199,086
	1,888	Hanmi Financial Corp.		42,367
	3,865	HarborOne Bancorp, Inc.		53,298
	45	Hawthorn Bancshares, Inc.		1,140
	2,024	Heartland Financial USA, Inc.		84,077
	2,153	Heritage Financial Corp.		54,169
	4,406	Hertiage Commerce Corp.		47,100
	4,106	Hilltop Holdings, Inc.		109,466


Shares			Value
Common Stocks, continued
Banks, continued
	8,713	Home Bancshares, Inc.	$	180,969
	1,139	Hometrust Bancshares, Inc.		28,475
	5,930	Hope BanCorp, Inc.		82,071
	3,456	Horizon Bancorp, Inc.		60,204
	2,325	Independent Bank Corp.		184,675
	2,159	Independent Bank Group, Inc.		146,618
	3,151	International Bancshares Corp.		126,292
	4,232	Lakeland Bancorp, Inc.		61,872
	1,317	Lakeland Financial Corp.		87,475
	950	Landmark Bancorp, Inc.		24,073
	1,512	LCNB Corp.		22,604
	2,612	Live Oak Bancshares, Inc.		88,521
	3,707	Macatawa Bank Corp.		32,770
	1,159	Mercantile Bank Corp.		37,030
	400	Metropolitan Bank Holding Corp.*		27,768
	1,651	Midland States BanCorp, Inc.		39,690
	1,041	MidWestone Financial Group, Inc.		30,939
	300	MVB Financial Corp.		9,333
	1,523	National Bank Holdings Corp.		58,285
	769	National Bankshares, Inc.		24,147
	2,224	NBT Bancorp, Inc.		83,600
	974	Nicolet Bankshares, Inc.*		70,459
	822	Northeast Bank		30,028
	657	Northrim Bancorp, Inc.		26,451
	609	Norwood Financial Corp.		14,774
	2,428	OFG Bancorp		61,671
	183	Ohio Valley Banc Corp.		5,523
	14,709	Old National Bancorp		217,546
	1,004	Old Point Financial Corp.		25,381
	3,314	Old Second Bancorp, Inc.		44,341
	1,182	Origin Bancorp, Inc.		45,862
	1,208	Orrstown Financial Services, Inc.		29,197
	4,752	Pacific Premier Bancorp, Inc.		138,948
	6,187	PacWest Bancorp		164,945
	534	Park National Corp.		64,747
	1,636	Parke Bancorp, Inc.		34,291
	1,140	Peapack-Gladstone Financial Corp.		33,858
	952	Penns Woods Bancorp, Inc.		21,982
	434	Peoples Bancorp of North Carolina, Inc.		11,787
	2,085	Peoples Bancorp, Inc.		55,461
	1,459	Pinnacle Financial Partners, Inc.		105,500
	3,166	Popular, Inc.		243,560
	977	Preferred Bank Los Angeles		66,456
	2,309	Primis Financial Corp.		31,472
	474	Prosperity Bancshares, Inc.		32,360
	1,228	QCR Holdings, Inc.		66,300
	351	Rbb BanCorp		7,255
	2,844	Renasant Corp.		81,936
	1,249	Republic Bancorp, Inc., Class A		60,264
	6,466	Republic First Bancorp, Inc.*		24,635
	2,122	S&T Bancorp, Inc.		58,206
	320	Salisbury Bancorp, Inc.		15,110
	2,295	Sandy Spring Bancorp, Inc.		89,666
	579	SB Financial Group, Inc.		9,994
	3,087	Seacoast Banking Corp of Florida		101,994
	3,347	ServisFirst Bancshares, Inc.		264,145
	1,438	Shore Bancshares, Inc.		26,603


Shares			Value
Common Stocks, continued
Banks, continued
	1,279	Sierra Bancorp	$	27,793
	6,442	Simmons First National Corp., Class A		136,957
	562	Southern First Bancshares, Inc.*		24,498
	1,502	Southside Bancshares, Inc.		56,205
	3,591	SouthState Corp.		277,046
	1,444	Stock Yards Bancorp, Inc.		86,380
	682	Summit Financial Group, Inc.		18,946
	1,323	Summit State Bank		20,136
	4,275	Synovus Financial Corp.		154,114
	2,562	Texas Capital Bancshares, Inc.*		134,864
	694	Tompkins Financial Corp.		50,037
	3,635	TowneBank		98,690
	1,824	TriCo Bancshares		83,247
	1,397	Triumph BanCorp, Inc.*		87,396
	3,236	Trustmark Corp.		94,459
	2,644	UMB Financial Corp.		227,648
	11,136	Umpqua Holdings Corp.		186,751
	249	Union Bankshares, Inc.		6,511
	450	United Bancshares, Inc.		12,807
	7,271	United Bankshares, Inc.		254,994
	5,096	United Community Banks, Inc.		153,848
	916	United Security Bancshares		6,980
	42	Unity Bancorp, Inc.		1,112
	1,651	Univest Financial Corp.		42,001
	21,320	Valley National Bancorp		221,941
	1,563	Veritex Holdings, Inc.		45,733
	1,097	Washington Trust Bancorp		53,062
	5,812	Webster Financial Corp.		244,976
	3,367	WesBanco, Inc.		106,768
	1,569	West BanCorp, Inc.		38,189
	1,354	Westamerica BanCorp		75,364
	3,109	Wintrust Financial Corp.		249,186

				14,044,994

Beverages (0.4%):
	36	Boston Beer Co., Inc. (The), Class A*		10,907
	321	Celsius Holdings, Inc.*		20,948
	507	Coca-Cola Consolidated, Inc.		285,897
	1,140	MGP Ingredients, Inc.		114,103
	1,268	National Beverage Corp.		62,056
	3,800	NewAge, Inc.*		851
	985	Willamette Valley Vineyards, Inc.*		6,176

				500,938

Biotechnology (3.4%):
	1,733	AC Immune SA*		6,256
	1,950	ACADIA Pharmaceuticals, Inc.*		27,476
	3,308	Adverum Biotechnologies, Inc.*		3,970
	3,984	Aeglea BioTherapeutics, Inc.*		2,012
	3,040	Agios Pharmaceuticals, Inc.*		67,397
	13,598	Akebia Therapeutics, Inc.*		4,801
	2,076	Akero Therapeutics, Inc.*		19,618
	1,262	Albireo Pharma, Inc.*		25,063
	8,283	Alkermes plc*		246,751
	2,613	Allogene Therapeutics, Inc.*		29,788
	2,056	AnaptysBio, Inc.*		41,737
	629	Applied Therapeutics, Inc.*		596
	283	Arcturus Therapeutics Holdings, Inc.*		4,454


Shares			Value
Common Stocks, continued
Biotechnology, continued
	629	Arcus Biosciences, Inc.*	$	15,939
	3,361	Arcutis Biotherapeutics, Inc.*		71,623
	6,613	Ardelyx, Inc.*		3,901
	4,656	Atara Biotherapeutics, Inc.*		36,270
	2,342	Atreca, Inc., Class A*		4,192
	2,657	Avid Bioservices, Inc.*		40,546
	1,475	Avidity Biosciences, Inc.*		21,432
	1,944	Axcella Health, Inc.*		3,946
	926	Bluebird Bio, Inc.*		3,834
	1,718	Blueprint Medicines Corp.*		86,776
	2,880	Cara Therapeutics, Inc.*		26,294
	1,034	CareDx, Inc.*		22,210
	142	CASI Pharmaceuticals, Inc.*		406
	606	Castle Biosciences, Inc.*		13,302
	5,557	Catalyst Pharmaceuticals, Inc.*		38,955
	236	ChemoCentryx, Inc.*		5,848
	6,991	Chimerix, Inc.*		14,541
	2,139	Chinook Therapeutics, Inc.*		37,411
	3,561	Concert Pharmaceuticals, Inc.*		14,992
	2,225	Crinetics Pharmaceuticals, Inc.*		41,496
	893	CRISPR Therapeutics AG*		54,268
	1,634	Cue Biopharma, Inc.*		4,069
	2,539	Cytomx Therapeutics, Inc.*		4,646
	1,720	Deciphera Pharmaceuticals, Inc.*		22,618
	3,786	Denali Therapeutics, Inc.*		111,422
	902	Eagle Pharmaceuticals, Inc.*		40,076
	3,422	Editas Medicine, Inc.*		40,482
	1,660	Eiger BioPharmaceuticals, Inc.*		10,458
	2,263	Emergent BioSolutions, Inc.*		70,244
	1,198	Enanta Pharmaceuticals, Inc.*		56,629
	11,564	Exelixis, Inc.*		240,763
	2,705	G1 Therapeutics, Inc.*^		13,363
	707	Global Blood Therapeutics, Inc.*		22,589
	2,547	Gritstone bio, Inc.*		6,164
	7,563	Halozyme Therapeutics, Inc.*		332,772
	1,570	Harpoon Therapeutics, Inc.*		2,999
	1,889	Ideaya Biosciences, Inc.*		26,068
	196	IGM Biosciences, Inc.*		3,534
	592	ImmuCell Corp.*		5,145
	1,281	Immunovant, Inc.*		4,996
	3,325	Infinity Pharmaceuticals, Inc.*		2,102
	921	Insmed, Inc.*		18,162
	3,348	Intellia Therapeutics, Inc.*		173,292
	428	Ionis Pharmaceuticals, Inc.*		15,845
	2,237	Iovance Biotherapeutics, Inc.*		24,697
	9,160	Ironwood Pharmaceuticals, Inc.*		105,615
	4,709	IVERIC bio, Inc.*		45,301
	3,800	Jounce Therapeutics, Inc.*		11,514
	856	KalVista Pharmaceuticals, Inc.*		8,423
	606	Karuna Therapeutics, Inc.*		76,665
	1,356	Kezar Life Sciences, Inc.*^		11,214
	514	Kiniksa Pharmaceuticals, Ltd., Class A*		4,981
	1,081	Krystal Biotech, Inc.*		70,978
	2,093	Kura Oncology, Inc.*		38,365
	4,768	Lexicon Pharmaceuticals, Inc.*		8,868
	830	Ligand Pharmaceuticals, Inc.*		74,053
	3,472	Macrogenics, Inc.*		10,242


Shares			Value
Common Stocks, continued
Biotechnology, continued
	493	Madrigal Pharmaceuticals, Inc.*	$	35,289
	2,522	Magenta Therapeutics, Inc.*		3,026
	900	MediciNova, Inc.*		2,277
	2,101	MeiraGTx Holdings plc*		15,905
	1,843	Mersana Therapeutics, Inc.*		8,515
	123	Mirati Therapeutics, Inc.*		8,257
	711	Molecular Templates, Inc.*		648
	710	Morphic Holding, Inc.*		15,407
	4,120	Myriad Genetics, Inc.*		74,860
	326	Nurix Therapeutics, Inc.*		4,130
	26,516	OPKO Health, Inc.*		67,085
	14,857	PDL BioPharma, Inc.*		36,103
	2,083	Precision BioSciences, Inc.*		3,333
	2,098	Protagonist Therapeutics, Inc.*		16,595
	2,444	Prothena Corp. plc*		66,355
	1,221	RAPT Therapeutics, Inc.*		22,283
	2,449	REGENXBIO, Inc.*		60,490
	427	Repare Therapeutics, Inc.*		5,974
	1,686	Replimune Group, Inc.*		29,471
	667	REVOLUTION Medicines, Inc.*		13,000
	1,106	Rhythm Pharmaceuticals, Inc.*^		4,590
	2,920	Rocket Pharmaceuticals, Inc.*		40,179
	1,935	Sage Therapeutics, Inc.*		62,501
	10,666	Sangamo Therapeutics, Inc.*		44,157
	1,550	Scholar Rock Holding Corp.*		8,510
	9,500	Spectrum Pharmaceuticals, Inc.*		7,410
	1,478	Spero Therapeutics, Inc.*		1,095
	1,098	SpringWorks Therapeutics, Inc.*		27,033
	954	Stoke Therapeutics, Inc.*		12,602
	1,866	Surface Oncology, Inc.*		3,060
	1,873	Sutro Biopharma, Inc.*		9,758
	2,101	Syndax Pharmaceuticals, Inc.*		40,423
	1,755	TCR2 Therapeutics, Inc.*		5,090
	2,757	Travere Therapeutics, Inc.*		66,802
	533	Turning Point Therapeutics, Inc.*		40,108
	1,741	Ultragenyx Pharmaceutical, Inc.*		103,868
	303	United Therapeutics Corp.*		71,399
	3,525	Vanda Pharmaceuticals, Inc.*		38,423
	2,332	Vaxart, Inc.*		8,162
	3,366	VBI Vaccines, Inc.*		2,721
	8,204	Verastem, Inc.*		9,517
	1,032	Vericel Corp.*		25,986
	4,488	Viking Therapeutics, Inc.*		12,970
	1,685	Voyager Therapeutics, Inc.*		9,958
	3,464	Xencor, Inc.*		94,810
	1,840	Y-mAbs Therapeutics, Inc.*		27,839
	784	Zentalis Pharmaceuticals, Inc.*		22,030

				4,047,459

Building Products (1.4%):
	2,833	AAON, Inc.		155,135
	447	Advanced Drainage Systems, Inc.		40,261
	824	American Woodmark Corp.*		37,088
	1,202	Apogee Enterprises, Inc.		47,143
	3,100	Armstrong World Industries, Inc.		232,376
	1,277	AZEK Co., Inc. (The)*		21,377
	3,446	Cornerstone Building Brands, Inc.*		84,393


Shares			Value
Common Stocks, continued
Building Products, continued
	815	Csw Industrials, Inc.	$	83,970
	1,452	Gibraltar Industries, Inc.*		56,265
	1,043	Griffon Corp.		29,235
	1,762	Insteel Industries, Inc.		59,327
	3,941	JELD-WEN Holding, Inc.*		57,499
	871	Masonite International Corp.*		66,919
	3,341	PGT Innovations, Inc.*		55,594
	2,436	Quanex Building Products Corp.		55,419
	3,705	Resideo Technologies, Inc.*		71,951
	2,049	Simpson Manufacturing Co., Inc.		206,150
	377	Trex Co., Inc.*		20,516
	2,113	UFP Industries, Inc.		143,980
	5,918	Zurn Water Solutions Corp.		161,206

				1,685,804

Capital Markets (1.9%):
	2,587	Affiliated Managers Group, Inc.		301,644
	3,495	Artisan Partners Asset Management, Inc., Class A		124,317
	866	Assetmark Financial Holdings, Inc.*		16,255
	16,135	BGC Partners, Inc., Class A		54,375
	1,300	Blucora, Inc.*		23,998
	2,455	Brightsphere Investment Group, Inc.		44,215
	2,537	Cohen & Steers, Inc.		161,328
	300	Cowen, Inc., Class A		7,107
	239	Diamond Hill Investment Group		41,500
	1,933	Donnelley Financial Solutions, Inc.*		56,618
	4,076	Federated Hermes, Inc., Class B		129,576
	989	GAMCO Investors, Inc., Class A		20,670
	1,990	Greenhill & Co., Inc.		18,348
	2,346	Hamilton Lane, Inc.		157,604
	211	Hennessy Advisors, Inc.		2,203
	2,282	Houlihan Lokey, Inc.		180,118
	1,879	Janus Henderson Group plc		44,175
	2,086	Lazard, Ltd., Class A^		67,607
	1,783	Manning & Napier, Inc.		22,234
	3,118	Moelis & Co., Class A		122,693
	1,743	Open Lending Corp.*		17,831
	853	Oppenheimer Holdings, Inc., Class A		28,183
	671	Piper Sandler Cos.		76,065
	1,393	PJT Partners, Inc.		97,900
	2,624	Pzena Investment Management, Inc.		17,292
	3,824	Safeguard Scientifics, Inc.*		14,264
	1,619	Silvercrest Asset Management Group, Inc., Class A		26,568
	900	Stifel Financial Corp.		50,418
	984	StoneX Group, Inc.*		76,821
	207	Value Line, Inc.		13,672
	5,549	Virtu Financial, Inc., Class A		129,902
	411	Virtus Investment Partners, Inc.		70,289
	1,478	Westwood Holdings, Inc.		20,396
	10,429	WisdomTree Investments, Inc.		52,875

				2,289,061

Chemicals (3.5%):
	1,064	Advanced Emmissions Solutions*		4,990
	2,212	AdvanSix, Inc.		73,969
	1,429	Agrofresh Solutions, Inc.*		2,558
	2,805	American Vanguard Corp.		62,692
	3,211	Ashland Global Holdings, Inc.		330,894


Shares			Value
Common Stocks, continued
Chemicals, continued
	4,798	Avient Corp.	$	192,304
	1,100	Axalta Coating Systems, Ltd.*		24,321
	2,148	Balchem Corp.		278,681
	3,126	Cabot Corp.		199,408
	639	Chase Corp.		49,721
	8,634	Chemours Co. (The)		276,461
	1,403	Core Molding Technologies, Inc.*		12,894
	6,378	Ecovyst, Inc.		62,823
	12,993	Element Solutions, Inc.		231,275
	2,318	Flotek Industries, Inc.*		2,299
	3,777	Futurefuel Corp.		27,497
	570	GCP Applied Technologies, Inc.*		17,830
	2,900	H.B. Fuller Co.		174,609
	1,565	Hawkins, Inc.		56,387
	2,564	Huntsman Corp.		72,689
	1,866	Ingevity Corp.*		117,819
	1,207	Innospec, Inc.		115,619
	1,047	Intrepid Potash, Inc.*		47,419
	1,147	Koppers Holdings, Inc.		25,968
	5,083	Kronos Worldwide, Inc.		93,527
	8,513	Livent Corp.*		193,160
	5,685	LSB Industries, Inc.*		78,794
	1,815	Minerals Technologies, Inc.		111,332
	389	NewMarket Corp.		117,073
	1,786	Northern Technologies International Corp.		16,699
	3,614	Olin Corp.		167,256
	2,431	Orion Engineered Carbons SA		37,753
	241	Quaker Chemical Corp.		36,034
	5,893	Rayonier Advanced Materials, Inc.*		15,440
	362	Scotts Miracle-Gro Co. (The)		28,594
	2,197	Sensient Technologies Corp.		176,990
	1,187	Stepan Co.		120,302
	2,589	Tredegar Corp.		25,890
	2,135	Trinseo PLC		82,112
	7,762	Tronox Holdings plc, Class A		130,402
	8,685	Valvoline, Inc.		250,389
	8,372	Venator Materials plc*		17,414

				4,160,288

Commercial Services & Supplies (2.1%):
	4,794	ABM Industries, Inc.		208,156
	7,062	ACCO Brands Corp.		46,115
	675	Acme United Corp.		21,377
	1,342	ADT, Inc.		8,253
	2,694	Brady Corp., Class A		127,265
	3,882	BrightView Holdings, Inc.*		46,584
	3,444	Brink’s Co. (The)		209,085
	2,801	Casella Waste Systems, Inc.*		203,577
	4,565	CECO Environmental Corp.*		27,299
	1,426	Cimpress plc*		55,471
	436	Civeo Corp.*		11,279
	2,550	Clean Harbors, Inc.*		223,559
	325	CompX International, Inc.		7,537
	1,356	Deluxe Corp.		29,385
	2,494	Ennis, Inc.		50,454
	3,751	Healthcare Services Group, Inc.		65,305
	1,000	Heritage-Crystal Clean, Inc.*		26,960


Shares			Value
Common Stocks, continued
Commercial Services & Supplies, continued
	2,059	HNI Corp.	$	71,427
	1,677	IAA, Inc.*		54,955
	3,774	Interface, Inc.		47,326
	3,764	KAR Auction Services, Inc.*		55,594
	2,673	Kimball International, Inc., Class B		20,502
	1,775	Matthews International Corp., Class A		50,889
	1,489	McGrath Rentcorp		113,164
	3,964	MillerKnoll, Inc.		104,134
	506	MSA Safety, Inc.		61,261
	2,566	NL Industries, Inc.		25,326
	2,198	Perma-Fix Environmental Services, Inc.*		11,408
	10,503	Pitney Bowes, Inc.		38,021
	5,379	Quad Graphics, Inc.*		14,792
	1,749	SP Plus Corp.*		53,729
	4,831	Steelcase, Inc., Class A		51,837
	1,241	Stericycle, Inc.*		54,418
	27	Team, Inc.*		20
	308	Tetra Tech, Inc.		42,057
	763	UniFirst Corp.		131,373
	3,364	Virco Manufacturing Co.*		12,951
	1,177	Vse Corp.		44,232

				2,427,077

Communications Equipment (1.0%):
	2,622	ADTRAN, Inc.		45,964
	1,444	Applied Optoelectronics, Inc.*		2,238
	682	Aviat Networks, Inc.*		17,077
	900	BK Technologies Corp.		2,385
	3,195	CalAmp Corp.*		13,323
	3,497	Calix, Inc.*		119,388
	3,508	Casa Systems, Inc.*		13,786
	980	Clearfield, Inc.*		60,711
	1,300	CommScope Holding Co., Inc.*		7,956
	1,983	Comtech Telecommunications Corp.		17,986
	2,559	Digi International, Inc.*		61,979
	1,222	DZS, Inc.*		19,882
	3,157	EMCORE Corp.*		9,692
	4,014	Extreme Networks, Inc.*		35,805
	6,919	Harmonic, Inc.*		59,988
	9,258	Infinera Corp.*		49,623
	1,456	InterDigital, Inc.		88,525
	2,325	KVH Industries, Inc.*		20,227
	1,172	Lantronix, Inc.*		6,305
	1,612	Lumentum Holdings, Inc.*		128,025
	1,769	NETGEAR, Inc.*		32,762
	4,188	NetScout Systems, Inc.*		141,764
	2,391	Network-1 Technologies, Inc.		5,738
	131	Optical Cable Corp.*		473
	376	Plantronics, Inc.*		14,920
	7,260	Ribbon Communications, Inc.*		22,070
	3,617	ViaSat, Inc.*		110,789
	9,904	Viavi Solutions, Inc.*		131,030

				1,240,411

Construction & Engineering (1.6%):
	2,056	Ameresco, Inc., Class A*		93,671
	6,231	API Group Corp.*		93,278
	3,325	Arcosa, Inc.		154,380


Shares			Value
Common Stocks, continued
Construction & Engineering, continued
	952	Argan, Inc.	$	35,529
	1,799	Comfort Systems USA, Inc.		149,587
	1,234	Concrete Pumping Holdings, Inc.*		7,478
	999	Construction Partners, Inc., Class A*		20,919
	1,242	Dycom Industries, Inc.*		115,556
	1,063	EMCOR Group, Inc.		109,446
	2,210	Granite Construction, Inc.		64,399
	4,498	Great Lakes Dredge & Dock Corp.*		58,969
	1,379	IES Holdings, Inc.*		41,604
	1,827	MasTec, Inc.*		130,923
	3,068	Matrix Service Co.*		15,524
	869	MYR Group, Inc.*		76,585
	879	Northwest Pipe Co.*		26,317
	949	NV5 Global, Inc.*		110,786
	5,203	Orion Group Holdings, Inc.*		11,863
	1,563	Primoris Services Corp.		34,011
	2,151	Sterling Construction Co., Inc.*		47,150
	2,090	Tutor Perini Corp.*		18,350
	1,133	Valmont Industries, Inc.		254,506
	5,095	WillScot Mobile Mini Holdings Corp.*		165,180

				1,836,011

Construction Materials (0.3%):
	1,908	Eagle Materials, Inc.		209,765
	5,455	Summit Materials, Inc., Class A*		127,047
	466	U.S. Lime & Minerals, Inc.		49,210

				386,022

Consumer Finance (1.0%):
	1,070	Atlanticus Holdings Corp.*		37,632
	1,688	Consumer Portfolio Services, Inc.*		17,302
	3,041	Curo Group Holdings Corp.		16,817
	1,249	Encore Capital Group, Inc.*		72,155
	1,566	Enova International, Inc.*		45,132
	5,775	EZCORP, Inc., Class A*		43,370
	2,530	FirstCash Holdings, Inc.		175,860
	2,615	Green Dot Corp., Class A*		65,663
	6,374	Navient Corp.		89,172
	1,353	Nelnet, Inc., Class A		115,343
	1,556	Nicholas Financial, Inc.*		14,502
	1,240	OneMain Holdings, Inc.		46,351
	964	Oportun Financial Corp.*		7,972
	2,222	PRA Group, Inc.*		80,792
	3,430	PROG Holdings, Inc.*		56,595
	821	Regional Mgmt Corp.		30,681
	11,202	SLM Corp.		178,560
	450	World Acceptance Corp.*		50,508

				1,144,407

Containers & Packaging (0.8%):
	13,394	Graphic Packaging Holding Co.		274,577
	1,280	Greif, Inc., Class A		79,846
	874	Greif, Inc., Class B		54,441
	2,948	Myers Industries, Inc.		67,008
	7,172	O-I Glass, Inc.*		100,408
	613	Ranpak Holdings Corp.*		4,291
	4,885	Silgan Holdings, Inc.		201,995
	1,491	Sonoco Products Co.		85,047


Shares			Value
Common Stocks, continued
Containers & Packaging, continued
	2,053	TriMas Corp.	$	56,848
	671	UFP Technologies, Inc.*		53,391

				977,852

Distributors (0.1%):
	12	AMCON Distributing Co.		1,956
	1,626	Educational Development Corp.		6,862
	2,028	Funko, Inc., Class A*		45,265
	1,262	Weyco Group, Inc.		30,856

				84,939

Diversified Consumer Services (1.1%):
	2,828	2U, Inc.*		29,609
	3,285	Adtalem Global Education, Inc.*		118,161
	1,366	American Public Education, Inc.*		22,075
	253	Bright Horizons Family Solutions, Inc.*		21,384
	1,394	Carriage Services, Inc.		55,272
	4,483	Frontdoor, Inc.*		107,951
	201	Graham Holdings Co., Class B		113,935
	2,160	Grand Canyon Education, Inc.*		203,450
	8,298	H&R Block, Inc.		293,085
	2,311	Laureate Education, Inc.		26,738
	2,747	OneSpaWorld Holdings, Ltd.*		19,696
	4,264	Perdoceo Education Corp.*		50,230
	1,432	Strategic Education, Inc.		101,071
	2,258	Stride, Inc.*		92,104
	980	Terminix Global Holdings, Inc.*		39,837
	3,444	Universal Technical Institute, Inc.*		24,556
	2,647	WW International, Inc.*		16,914

				1,336,068

Diversified Financial Services (0.1%):
	500	Alerus Financial Corp.		11,905
	1,292	A-Mark Precious Metals, Inc.		41,667
	3,167	Cannae Holdings, Inc.*		61,250

				114,822

Diversified Telecommunication Services (0.5%):
	1,146	Anterix, Inc.*		47,066
	879	ATN International, Inc.		41,234
	2,189	Cogent Communications Holdings, Inc.		133,004
	5,491	Consolidated Communications Holdings, Inc.*		38,437
	2,230	EchoStar Corp., Class A*		43,039
	1,571	IDT Corp.*		39,511
	6,317	Iridium Communications, Inc.*		237,266
	500	Telesat Corp.*		5,585

				585,142

Electric Utilities (1.1%):
	4,047	ALLETE, Inc.		237,883
	3,043	Genie Energy, Ltd., Class B		27,874
	5,125	Hawaiian Electric Industries, Inc.		209,612
	1,029	IDACORP, Inc.		108,992
	1,832	MGE Energy, Inc.		142,585
	2,564	Otter Tail Corp.		172,121
	5,120	PNM Resources, Inc.		244,634
	2,371	Portland General Electric Co.		114,590

				1,258,291


Shares			Value
Common Stocks, continued
Electrical Equipment (1.1%):
	2,107	Acuity Brands, Inc.	$	324,562
	1,194	Allied Motion Technologies, Inc.		27,271
	2,221	American Superconductor Corp.*		11,505
	634	Atkore, Inc.*		52,628
	1,354	AZZ, Inc.		55,270
	1,177	Encore Wire Corp.		122,314
	1,956	EnerSys		115,326
	411	Espey Mfg. & Electronics Corp.*		5,853
	9,534	GrafTech International, Ltd.		67,405
	2,834	LSI Industries, Inc.		17,486
	5,549	nVent Electric plc		173,850
	79	Pineapple Holdings, Inc.		185
	569	Powell Industries, Inc.		13,298
	527	Preformed Line Products Co.		32,410
	1,531	Regal Rexnord Corp.		173,799
	75	Servotronics, Inc.*		844
	1,994	Sunrun, Inc.*		46,580
	2,714	Thermon Group Holdings, Inc.*		38,132
	3,104	Ultralife Corp.*		14,123
	1,134	Vicor Corp.*		62,064

				1,354,905

Electronic Equipment, Instruments & Components (2.6%):
	6,544	Arlo Technologies, Inc.*		41,031
	5,783	Avnet, Inc.		247,975
	2,192	Badger Meter, Inc.		177,311
	254	Bel Fuse, Inc., Class A		5,532
	1,595	Bel Fuse, Inc., Class B		24,818
	2,255	Belden, Inc.		120,124
	1,596	Benchmark Electronics, Inc.		36,006
	543	Coherent, Inc.*		144,557
	1,611	CTS Corp.		54,855
	6,442	Daktronics, Inc.*		19,390
	1,365	Data I/O Corp.*		4,190
	662	ePlus, Inc.*		35,165
	1,860	Fabrinet*		150,846
	1,055	FARO Technologies, Inc.*		32,526
	640	Frequency Electronics, Inc.*		4,672
	1,474	II-VI, Inc.*^		75,100
	1,699	Insight Enterprises, Inc.*		146,590
	124	IPG Photonics Corp.*		11,672
	2,324	Itron, Inc.*		114,875
	1,856	Kimball Electronics, Inc.*		37,306
	4,627	Knowles Corp.*		80,186
	75	Littlelfuse, Inc.		19,053
	1,600	Luna Innovations, Inc.*		9,328
	1,993	Methode Electronics, Inc., Class A		73,821
	2,686	Napco Security Technologies, Inc.*		55,305
	3,997	National Instruments Corp.		124,826
	1,187	nLight, Inc.*		12,131
	1,812	Novanta, Inc.*		219,741
	952	OSI Systems, Inc.*		81,339
	1,367	PC Connection, Inc.		60,216
	1,588	Plexus Corp.*		124,658
	965	Rogers Corp.*		252,917
	3,446	Sanmina Corp.*		140,356
	1,880	ScanSource, Inc.*		58,543


Shares			Value
Common Stocks, continued
Electronic Equipment, Instruments & Components, continued
	5,308	TTM Technologies, Inc.*	$	66,350
	6,181	Vishay Intertechnology, Inc.		110,145
	999	Vishay Precision Group, Inc.*		29,101
	2,612	Vontier Corp.		60,050
	311	Wayside Technology Group, Inc.		10,338
	3,952	Wireless Telecom Group, Inc.*		5,217

				3,078,162

Energy Equipment & Services (1.7%):
	7,188	Archrock, Inc.		59,445
	1,198	Aspen Aerogels, Inc.*		11,836
	1,091	Bristow Group, Inc.*		25,529
	2,624	Cactus, Inc., Class A		105,668
	6,189	ChampionX Corp.		122,852
	2,103	Core Laboratories NV		41,660
	653	DMC Global, Inc.*		11,774
	2,539	Dril-Quip, Inc.*		65,506
	2,694	Expro Group Holdings NV*		31,035
	618	Expro Group Holdings NV*		7,119
	4,307	Exterran Corp.*		18,520
	1,260	Geospace Technologies Corp.*		5,972
	2,641	Gulf Island Fabrication, Inc.*		8,847
	7,520	Helix Energy Solutions Group, Inc.*		23,312
	5,207	Helmerich & Payne, Inc.		224,213
	5,674	Liberty Oilfield Services, Inc., Class A*		72,400
	595	Mammoth Energy Services, Inc.*		1,309
	494	Nabors Industries, Ltd.*		66,147
	2,925	National Energy Services Reunited Corp.*		19,832
	1,299	Natural Gas Services Group*		14,289
	8,761	Newpark Resources, Inc.*		27,072
	12,860	NexTier Oilfield Solutions, Inc.*		122,299
	10,984	NOV, Inc.		185,739
	5,737	Oceaneering International, Inc.*		61,271
	3,039	Oil States International, Inc.*		16,471
	9,819	Patterson-UTI Energy, Inc.		154,747
	7,231	Propetro Holding Corp.*		72,310
	8,632	RPC, Inc.*		59,647
	1,598	SEACOR Marine Holdings, Inc.*		9,205
	4,229	Select Energy Services, Inc.*		28,842
	1,537	Solaris Oilfield Infrastructure, Inc.		16,723
	17,966	TechnipFMC plc*		120,911
	5,480	TETRA Technologies, Inc.*		22,249
	1,475	Tidewater, Inc.*		31,108
	20,620	Transocean, Ltd.*		68,665
	5,730	U.S. Silica Holdings, Inc.*		65,437
	372	Weatherford International plc*		7,875

				2,007,836

Entertainment (0.3%):
	2,527	Ballantyne Strong, Inc.*		6,090
	3,572	Cinemark Holdings, Inc.*		53,651
	2,533	Imax Corp.*		42,782
	783	Liberty Media Corp.-Liberty Braves, Class A*		19,693
	1,825	Liberty Media Corp.-Liberty Braves, Class C*		43,800
	3,575	Lions Gate Entertainment Corp., Class A*		33,283
	7,603	Lions Gate Entertainment Corp., Class B*		67,135
	614	Madison Square Garden Entertainment Corp.*		32,309
	870	Marcus Corp.*		12,850


Shares			Value
Common Stocks, continued
Entertainment, continued
	1,742	Playtika Holding Corp.*	$	23,064
	2,715	Reading International, Inc., Class A*		9,801
	951	World Wrestling Entertainment, Inc., Class A		59,428

				403,886

Food & Staples Retailing (1.1%):
	2,352	BJ’s Wholesale Club Holdings, Inc.*		146,577
	436	Casey’s General Stores, Inc.		80,651
	2,742	Grocery Outlet Holding Corp.*		116,891
	661	Ingles Markets, Inc., Class A		57,342
	2,814	Natural Grocers by Vitamin Cottage, Inc.		44,883
	769	Performance Food Group Co.*		35,359
	1,654	PriceSmart, Inc.		118,476
	1,602	Rite Aid Corp.*^		10,797
	2,176	SpartanNash Co.		65,650
	4,696	Sprouts Farmers Market, Inc.*		118,903
	2,299	The Andersons, Inc.		75,844
	2,098	The Chefs’ Warehouse, Inc.*		81,591
	3,444	United Natural Foods, Inc.*		135,694
	538	US Foods Holding Corp.*		16,506
	1,419	Village Super Market, Inc., Class A		32,367
	1,746	Weis Markets, Inc.		130,147

				1,267,678

Food Products (1.7%):
	444	Alico, Inc.		15,820
	2,325	B&G Foods, Inc.^		55,289
	1,273	Calavo Growers, Inc.		53,110
	2,146	Cal-Maine Foods, Inc.		106,034
	1,318	Coffee Holding Co., Inc.		3,216
	2,411	Farmer Brothers Co.*		11,308
	5,876	Flowers Foods, Inc.		154,656
	2,300	Fresh Del Monte Produce, Inc.		67,919
	3,206	Hain Celestial Group, Inc. (The)*		76,110
	6,361	Hostess Brands, Inc.*		134,917
	842	Ingredion, Inc.		74,231
	1,040	J & J Snack Foods Corp.		145,246
	519	John B Sanfilippo & Son, Inc.		37,622
	1,361	Lancaster Colony Corp.		175,270
	2,754	Landec Corp.*		27,457
	2,175	Limoneira Co.		30,646
	397	Pilgrim’s Pride Corp.*		12,398
	800	Post Holdings, Inc.*		65,880
	1,220	Rocky Mountain Chocolate Factory, Inc.*		8,406
	1,074	Sanderson Farms, Inc.		231,479
	46	Seaboard Corp.		178,599
	708	Seneca Foods Corp., Class A*		39,322
	12	Seneca Foods Corp., Class B*		680
	4,807	Simply Good Foods Co. (The)*		181,560
	2,295	Tootsie Roll Industries, Inc.		81,128
	1,779	TreeHouse Foods, Inc.*		74,398

				2,042,701

Gas Utilities (1.0%):
	1,029	Chesapeake Utilities Corp.		133,307
	1,610	National Fuel Gas Co.		106,341
	4,906	New Jersey Resources Corp.		218,464
	1,406	Northwest Natural Holding Co.		74,659


Shares			Value
Common Stocks, continued
Gas Utilities, continued
	2,413	ONE Gas, Inc.	$	195,911
	873	RGC Resources, Inc.		16,648
	6,542	South Jersey Industries, Inc.		223,344
	2,644	Spire, Inc.		196,634

				1,165,308

Health Care Equipment & Supplies (3.0%):
	6,691	Accuray, Inc.*^		13,114
	2,365	AngioDynamics, Inc.*		45,763
	1,309	Anika Therapeutics, Inc.*		29,217
	2,193	Apyx Medical Corp.*		12,851
	2,615	Artivion, Inc.*		49,371
	2,345	AtriCure, Inc.*		95,817
	126	Atrion Corp.		79,236
	2,426	Avanos Medical, Inc.*		66,327
	2,841	Axogen, Inc.*		23,268
	2,250	Axonics, Inc.*		127,508
	3,014	Cardiovascular Systems, Inc.*		43,281
	1,500	CONMED Corp.		143,640
	2,081	CytoSorbents Corp.*		4,557
	1,118	Elctromed, Inc.*		10,778
	877	Enovis Corp.*		48,235
	4,972	Envista Holdings Corp.*		191,621
	427	Fonar Corp.*		6,486
	2,248	Glaukos Corp.*		102,104
	726	Globus Medical, Inc.*		40,758
	956	Haemonetics Corp.*		62,312
	523	Heska Corp.*		49,429
	626	ICU Medical, Inc.*		102,908
	706	Inari Medical, Inc.*		48,001
	1,790	Inogen, Inc.*		43,282
	1,778	Integer Holdings Corp.*		125,633
	4,094	Integra LifeSciences Holdings Corp.*		221,199
	4,509	Invacare Corp.*^		5,772
	850	iRadimed Corp.		28,849
	2,006	IRIDEX Corp.*		5,155
	249	Kewaunee Scientific CP*		4,116
	4,025	Lantheus Holdings, Inc.*		265,771
	1,449	LeMaitre Vascular, Inc.		66,002
	1,127	LENSAR, Inc.*		7,337
	2,723	LivaNova plc*		170,106
	3,167	Meridian Bioscience, Inc.*		96,340
	2,871	Merit Medical Systems, Inc.*		155,809
	186	Mesa Laboratories, Inc.		37,933
	2,205	Natus Medical, Inc.*		72,258
	5,233	Neogen Corp.*		126,063
	2,684	NuVasive, Inc.*		131,945
	5,745	OraSure Technologies, Inc.*		15,569
	1,375	Orthofix Medical, Inc.*		32,367
	1,025	Orthopediatrics Corp.*		44,229
	1,517	QuidelOrtho Corp.*		147,422
	2,363	SeaSpine Holdings Corp.*		13,351
	76	Shockwave Medical, Inc.*		14,529
	1,010	SI-BONE, Inc.*		13,332
	2,196	STAAR Surgical Co.*		155,762
	364	Surgalign Holdings, Inc.*		1,241
	879	Surmodics, Inc.*		32,725


Shares			Value
Common Stocks, continued
Health Care Equipment & Supplies, continued
	1,169	Tactile Systems Technology, Inc.*	$	8,534
	743	TransMedics Group, Inc.*		23,367
	435	Utah Medical Products, Inc.		37,366
	2,566	Varex Imaging Corp.*		54,887
	8,600	ViewRay, Inc.*		22,790
	755	Zynex, Inc.		6,025

				3,583,648

Health Care Providers & Services (3.6%):
	5,408	Acadia Healthcare Co., Inc.*		365,743
	787	Addus HomeCare Corp.*		65,541
	190	AlerisLife, Inc.*		228
	3,142	AMN Healthcare Services, Inc.*		344,709
	1,243	Apollo Medical Holdings, Inc.*		47,967
	8,989	Brookdale Senior Living, Inc.*		40,810
	7,998	Community Health Systems, Inc.*		29,992
	915	CorVel Corp.*		134,752
	7,164	Covetrus, Inc.*		148,653
	2,958	Cross Country Healthcare, Inc.*		61,615
	1,589	Encompass Health Corp.		89,063
	2,966	Ensign Group, Inc. (The)		217,912
	2,033	Hanger, Inc.*		29,113
	4,192	HealthEquity, Inc.*		257,347
	1,999	InfuSystem Holdings, Inc.*		19,250
	1,190	Joint Corp. (The)*		18,219
	1,634	LHC Group, Inc.*		254,479
	5,006	MEDNAX, Inc.*		105,176
	624	ModivCare, Inc.*		52,728
	887	National Healthcare Corp.		62,001
	1,645	National Research Corp.		62,971
	9,359	Option Care Health, Inc.*		260,087
	4,302	Owens & Minor, Inc.		135,298
	5,186	Patterson Cos., Inc.		157,136
	1,785	Petiq, Inc.*		29,970
	5,882	Premier, Inc., Class A		209,870
	4,171	Progyny, Inc.*		121,168
	1,080	Psychemedics Corp.		6,847
	13,737	R1 RCM, Inc.*		287,928
	2,898	RadNet, Inc.*		50,077
	7,290	Select Medical Holdings Corp.		172,190
	4,347	Surgery Partners, Inc.*		125,715
	3,159	Tenet Healthcare Corp.*		166,037
	1,764	The Pennant Group, Inc.*		22,597
	755	U.S. Physical Therapy, Inc.		82,446

				4,235,635

Health Care Technology (0.6%):
	8,129	Allscripts Healthcare Solutions, Inc.*		120,553
	1,296	Change Healthcare, Inc.*		29,886
	766	Computer Programs & Systems, Inc.*		24,489
	4,744	Evolent Health, Inc., Class A*		145,688
	2,021	Health Catalyst, Inc.*		29,284
	1,818	HealthStream, Inc.*		39,469
	1,239	iCAD, Inc.*		4,956
	4,136	NextGen Healthcare, Inc.*		72,132
	2,168	Omnicell, Inc.*		246,610
	445	OptimizeRx Corp.*		12,189
	279	Simulations Plus, Inc.		13,763

				739,019


Shares			Value
Common Stocks, continued
Hotels, Restaurants & Leisure (2.0%):
	1,724	BBQ Holdings, Inc.*	$	17,964
	3	Biglari Holdings, Inc., Class A*		1,764
	168	Biglari Holdings, Inc., Class B*		20,614
	1,766	BJ’s Restaurants, Inc.*		38,287
	4,676	Bloomin’ Brands, Inc.		77,715
	950	Bluegreen Vacations Holding Corp.		23,712
	1,994	Brinker International, Inc.*		43,928
	4,497	Carrols Restaurant Group, Inc.		9,084
	700	Century Casinos, Inc.*		5,040
	2,493	Cheesecake Factory, Inc. (The)		65,865
	217	Choice Hotels International, Inc.		24,224
	1,396	Chuy’s Holdings, Inc.*		27,808
	1,237	Cracker Barrel Old Country Store, Inc.		103,277
	2,902	Dave & Buster’s Entertainment, Inc.*		95,128
	3,256	Denny’s Corp.*		28,262
	2,394	El Pollo Loco Holdings, Inc.*		23,557
	2,608	Fiesta Restaurant Group, Inc.*		18,621
	100	Flanigan’s Enterprises, Inc.		3,000
	1,109	Full House Resorts, Inc.*		6,743
	3,201	Hilton Grand Vacations, Inc.*		114,372
	5,547	International Game Technology plc		102,952
	1,031	Jack in the Box, Inc.		57,798
	3,369	Light & Wonder, Inc., Class A*		158,309
	672	Marriott Vacations Worldwide Corp.		78,086
	597	Nathans Famous, Inc.		34,966
	1,669	Noodles & Co.*		7,844
	1,689	Papa John’s International, Inc.		141,065
	809	Penn National Gaming, Inc.*		24,610
	3,630	Playa Hotels & Resorts NV*		24,938
	1,540	Playags, Inc.*		7,947
	300	RCI Hospitality Holdings, Inc.		14,508
	1,368	Red Robin Gourmet Burgers, Inc.*		10,985
	662	Red Rock Resorts, Inc.		22,084
	2,239	Ruth’s Hospitality Group, Inc.		36,406
	3,760	SeaWorld Entertainment, Inc.*		166,117
	1,613	Shake Shack, Inc., Class A*		63,681
	2,938	Texas Roadhouse, Inc., Class A		215,062
	3,865	Travel + Leisure Co.		150,039
	10,098	Wendy’s Co. (The)		190,650
	1,069	Wingstop, Inc.		79,929
	449	Wyndham Hotels & Resorts, Inc.		29,508

				2,366,449

Household Durables (1.8%):
	608	Bassett Furniture Industries, Inc.		11,017
	738	Beazer Homes USA, Inc.*		8,908
	494	Cavco Industries, Inc.*		96,819
	1,854	Century Communities, Inc.		83,374
	1,650	Ethan Allen Interiors, Inc.		33,347
	820	Flexsteel Industries, Inc.		14,760
	1,624	Green Brick Partners, Inc.*		31,782
	1,347	Helen of Troy, Ltd.*		218,766
	670	Hooker Furnishings Corp.		10,419
	1,677	Installed Building Products, Inc.		139,459
	1,482	iRobot Corp.*		54,464
	4,791	KB Home		136,352
	1,138	Koss Corp.*		7,909
	2,637	La-Z-Boy, Inc.		62,523


Shares			Value
Common Stocks, continued
Household Durables, continued
	230	Legacy Housing Corp.*	$	3,001
	3,296	Leggett & Platt, Inc.		113,976
	1,096	LGI Homes, Inc.*		95,242
	2,522	Lifetime Brands, Inc.		27,843
	1,513	M/I Homes, Inc.*		60,006
	3,450	MDC Holdings, Inc.		111,469
	1,818	Meritage Homes Corp.*		131,805
	2,534	Purple Innovation, Inc.*^		7,754
	3,015	Skyline Champion Corp.*		142,971
	4,300	Sonos, Inc.*		77,572
	6,288	Taylor Morrison Home Corp., Class A*		146,888
	3,724	Tempur Sealy International, Inc.		79,582
	1,904	Toll Brothers, Inc.		84,918
	110	TopBuild Corp.*		18,388
	5,638	Tri Pointe Homes, Inc.*		95,113
	3,274	Tupperware Brands Corp.*		20,757
	798	Universal Electronics, Inc.*		20,405

				2,147,589

Household Products (0.5%):
	636	Central Garden & Pet Co.*		26,979
	2,441	Central Garden & Pet Co., Class A*		97,664
	3,493	Energizer Holdings, Inc.		99,027
	1,767	Ocean Bio-Chem, Inc.		22,759
	640	Oil-Dri Corp. of America		19,616
	621	Reynolds Consumer Products, Inc.		16,935
	1,701	Spectrum Brands Holdings, Inc.		139,516
	822	WD-40 Co.		165,518

				588,014

Independent Power and Renewable Electricity Producers (0.4%):
	4,220	Atlantica Sustainable Infrastructure plc		136,137
	703	Clearway Energy, Inc., Class A		22,475
	765	Clearway Energy, Inc., Class C		26,653
	2,863	Ormat Technologies, Inc.		224,316
	5,158	Sunnova Energy International, Inc.*		95,062

				504,643

Insurance (3.4%):
	2,802	AMBAC Financial Group, Inc.*		31,803
	6,616	American Equity Investment Life Holding Co.		241,947
	1,053	Amerisafe, Inc.		54,767
	1,862	Argo Group International Holdings, Ltd.		68,633
	4,486	Assured Guaranty, Ltd.		250,274
	2,314	Axis Capital Holdings, Ltd.		132,106
	3,866	Brighthouse Financial, Inc.*		158,583
	5,374	Citizens, Inc.*^		22,517
	3,445	Crawford & Co.		24,287
	2,876	Crawford & Co., Class A		22,433
	2,691	Donegal Group, Inc., Class A		45,882
	1,337	eHealth, Inc.*		12,474
	1,475	Employers Holdings, Inc.		61,788
	813	Enstar Group, Ltd.*		173,966
	10,826	Genworth Financial, Inc., Class A*		38,216
	1,050	Global Indemnity Group LLC, Class A		27,164
	3,055	Greenlight Capital Re, Ltd.*		23,615
	1,752	Hallmark Financial Services, Inc.*		4,240
	1,817	Hanover Insurance Group, Inc. (The)		265,736
	489	HCI Group, Inc.^		33,135


Shares			Value
Common Stocks, continued
Insurance, continued
	1,369	Heritage Insurance Holdings, Inc.	$	3,614
	2,079	Horace Mann Educators Corp.		79,792
	135	Investors Title Co.		21,180
	1,855	James River Group Holdings		45,967
	2,661	Kemper Corp.		127,462
	1,473	Kingstone Cos., Inc.		5,804
	714	Kinsale Capital Group, Inc.		163,963
	12,677	Maiden Holdings, Ltd.*		24,593
	2,856	Mercury General Corp.		126,521
	198	National Western Life Group, Inc., Class A		40,135
	929	NI Holdings, Inc.*		15,263
	1,205	Old Republic International Corp.		26,944
	1,464	Primerica, Inc.		175,226
	2,637	ProAssurance Corp.		62,312
	2,224	RLI Corp.		259,296
	797	Safety Insurance Group, Inc.		77,389
	2,998	Selective Insurance Group, Inc.		260,646
	6,247	SiriusPoint, Ltd.*		33,859
	1,766	Stewart Information Services Corp.		87,858
	204	The National Security Group, Inc.		3,337
	2,849	Tiptree, Inc., Class A		30,256
	2,000	United Fire Group, Inc.		68,460
	4,002	United Insurance Holdings Co.		6,243
	2,274	Universal Insurance Holdings, Inc.		29,630
	10,427	Unum Group		354,727
	164	White Mountains Insurance Group, Ltd.		204,365

				4,028,408

Interactive Media & Services (0.5%):
	3,144	ANGI, Inc., Class A*		14,399
	5,278	Cargurus, Inc.*		113,424
	4,413	Cars.com, Inc.*		41,615
	6,181	DHI Group, Inc.*		30,719
	3,238	QuinStreet, Inc.*		32,574
	1,095	Travelzoo*		6,636
	3,646	TripAdvisor, Inc.*		64,899
	11,137	TrueCar, Inc.*		28,845
	3,909	Yelp, Inc.*		108,553
	2,347	Ziff Davis, Inc.*		174,922

				616,586

Internet & Direct Marketing Retail (0.2%):
	1,021	1-800-Flowers.com, Inc., Class A*		9,710
	738	Duluth Holdings, Inc.*		7,040
	1,300	Lands’ End, Inc.*		13,806
	2,418	Liquidity Services, Inc.*		32,498
	1,724	PetMed Express, Inc.		34,308
	3,615	Quotient Technology, Inc.*		10,736
	16,641	Qurate Retail, Inc., Class A		47,760
	740	Revolve Group, Inc.*		19,173
	1,857	Shutterstock, Inc.		106,425

				281,456

IT Services (1.9%):
	3,431	Alliance Data Systems Corp.		127,153
	622	BM Technologies, Inc.*		3,664
	1,700	Brightcove, Inc.*		10,744
	1,100	Cantaloupe, Inc.*		6,160
	962	Cass Information Systems, Inc.		32,516


Shares			Value
Common Stocks, continued
IT Services, continued
	289	Concentrix Corp.	$	39,200
	9,103	Conduent, Inc.*		39,325
	1,673	CSG Systems International, Inc.		99,845
	758	CSP, Inc.*		6,898
	1,282	DXC Technology Co.*		38,857
	1,133	Euronet Worldwide, Inc.*		113,968
	3,710	Evertec, Inc.		136,825
	1,270	Evo Payments, Inc.*		29,870
	1,949	Exlservice Holdings, Inc.*		287,146
	2,654	Hackett Group, Inc. (The)		50,346
	439	I3 Verticals, Inc.*		10,984
	1,300	Information Services Group, Inc.		8,788
	1,362	International Money Express, Inc.*		27,880
	10,373	Limelight Networks, Inc.*		23,962
	3,634	LiveRamp Holdings, Inc.*		93,793
	1,249	MAXIMUS, Inc.		78,075
	862	Paysign, Inc.*		1,310
	1,859	Perficient, Inc.*		170,452
	3,168	PFSweb, Inc.*		37,256
	8,429	Servicesource International, Inc.*		12,391
	1,555	StarTek, Inc.*		4,494
	7,537	Switch, Inc., Class A		252,489
	4,882	Teradata Corp.*		180,683
	2,606	TTEC Holdings, Inc.		176,921
	4,235	Unisys Corp.*		50,947
	3,544	Verra Mobility Corp.*		55,676
	402	WEX, Inc.*		62,535

				2,271,153

Leisure Products (0.6%):
	4,407	Acushnet Holdings Corp.		183,684
	2,004	American Outdoor Brands, Inc.*		19,058
	1,275	Brunswick Corp.		83,359
	675	Clarus Corp.		12,818
	1,402	Escalade, Inc.		18,212
	723	Johnson Outdoors, Inc., Class A		44,219
	1,065	Malibu Boats, Inc.*		56,136
	2,419	Marine Products Corp.		23,005
	850	Mastercraft Boat Holdings, Inc.*		17,892
	2,805	Mattel, Inc.*		62,636
	2,293	Nautilus Group, Inc.*		4,013
	204	Polaris, Inc.		20,253
	2,353	Smith & Wesson Brands, Inc.		30,895
	2,209	Vista Outdoor, Inc.*		61,631
	2,379	YETI Holdings, Inc.*		102,939

				740,750

Life Sciences Tools & Services (0.4%):
	2,937	Codexis, Inc.*		30,721
	7,407	Enzo Biochem, Inc.*		15,333
	6,099	Fluidigm Corp.*^		9,759
	5,439	Harvard Bioscience, Inc.*		19,580
	1,708	Medpace Holdings, Inc.*		255,636
	923	NanoString Technologies, Inc.*		11,722
	5,166	Neogenomics, Inc.*		42,103
	647	Personalis, Inc.*		2,232
	1,700	Quanterix Corp.*		27,523
	1,626	Sotera Health Co.*		31,853

				446,462


Shares			Value
Common Stocks, continued
Machinery (4.5%):
	765	Alamo Group, Inc.	$	89,069
	1,814	Albany International Corp., Class A		142,925
	6,077	Allison Transmission Holdings, Inc.		233,661
	4,706	Altra Industrial Motion Corp.		165,886
	806	Art’s-Way Manufacturing Co., Inc.*		2,378
	1,143	Astec Industries, Inc.		46,612
	2,576	Barnes Group, Inc.		80,217
	1,077	Blue Bird Corp.*		9,919
	1,411	Chart Industries, Inc.*		236,173
	1,404	CIRCOR International, Inc.*		23,012
	1,556	Columbus McKinnon Corp.		44,144
	3,325	Commercial Vehicle Group, Inc.*		19,418
	2,638	Crane Holdings Co.		230,983
	493	Donaldson Co., Inc.		23,733
	1,772	Douglas Dynamics, Inc.		50,927
	500	Eastern Co. (The)		10,170
	3,670	Energy Recovery, Inc.*		71,271
	2,752	Enerpac Tool Group Corp.		52,343
	1,044	EnPro Industries, Inc.		85,535
	877	Esab Corp.		38,369
	1,258	ESCO Technologies, Inc.		86,009
	6,451	Evoqua Water Technologies Co.*		209,722
	3,137	Federal Signal Corp.		111,677
	5,909	Flowserve Corp.		169,175
	2,482	Franklin Electric Co., Inc.		181,831
	5,795	Gates Industrial Corp. plc*		62,644
	1,765	Gencor Industries, Inc.*		17,932
	1,794	Gorman-Rupp Co. (The)		50,770
	459	Graham Corp.		3,176
	4,634	Harsco Corp.*		32,948
	1,812	Helios Technologies, Inc.		120,045
	2,413	Hillenbrand, Inc.		98,836
	785	Hurco Cos., Inc.		19,421
	1,014	Hyster-Yale Materials Handling, Inc., Class A		32,671
	219	ITT, Inc.		14,726
	1,705	John Bean Technologies Corp.		188,266
	472	Kadant, Inc.		86,069
	3,498	Kennametal, Inc.		81,259
	1,529	L.B. Foster Co., Class A*		19,678
	238	Lincoln Electric Holdings, Inc.		29,360
	578	Lindsay Corp.		76,770
	1,597	Luxfer Holdings plc		24,147
	3,228	Manitex International, Inc.*		20,950
	2,653	Manitowoc Co., Inc. (The)*		27,936
	589	Mayville Engineering Co., Inc.*		4,559
	2,606	Meritor, Inc.*		94,676
	728	Miller Industries, Inc.		16,504
	3,159	Mueller Industries, Inc.		168,343
	8,533	Mueller Water Products, Inc., Class A		100,092
	3,562	NN, Inc.*		9,012
	638	Omega Flex, Inc.		68,662
	603	Oshkosh Corp.		49,530
	723	P&F Industries, Inc., Class A*		4,107
	1,229	Park-Ohio Holdings Corp.		19,492
	1,599	Proto Labs, Inc.*		76,496
	114	RBC Bearings, Inc.*		21,084
	3,472	REV Group, Inc.		37,741


Shares			Value
Common Stocks, continued
Machinery, continued
	1,851	Shyft Group, Inc. (The)	$	34,410
	1,692	SPX Corp.*		89,405
	731	Standex International Corp.		61,974
	466	Taylor Devices, Inc.*		4,050
	1,044	Tennant Co.		61,857
	3,752	Terex Corp.		102,692
	1,867	The Greenbrier Cos., Inc.		67,193
	962	Timken Co.		51,034
	5,430	Titan International, Inc.*		81,993
	4,025	Trinity Industries, Inc.		97,485
	1,747	Twin Disc, Inc.*		15,828
	3,327	Wabash National Corp.		45,181
	1,430	Watts Water Technologies, Inc., Class A		175,661
	10,631	Welbilt, Inc.*		253,124
	337	Woodward, Inc.		31,169

				5,266,117

Marine (0.4%):
	6,821	Costamare, Inc.		82,534
	315	Eneti, Inc.		1,934
	3,087	Genco Shipping & Trading, Ltd.		59,641
	2,099	Kirby Corp.*		127,703
	2,096	Matson, Inc.		152,757

				424,569

Media (0.9%):
	3,896	Altice USA, Inc., Class A*		36,038
	1,560	AMC Networks, Inc., Class A*		45,427
	6,123	Audacy, Inc.*		5,769
	478	Beasley Broadcast Group, Inc., Class A*		612
	1,823	Boston Omaha Corp.*		37,645
	7,836	comScore, Inc.*		16,142
	103	Daily Journal Corp.*		26,657
	976	DallasNews Corp.		6,178
	4,222	E.W. Scripps Co. (The), Class A*		52,648
	6,190	Entravision Communications Corp., Class A		28,226
	5,880	Gannett Co, Inc.*		17,052
	3,567	Gray Television, Inc.		60,247
	2,892	Hemisphere Media Group*		22,066
	1,608	iHeartMedia, Inc., Class A*		12,687
	2,165	John Wiley & Sons, Inc., Class A		103,400
	2,864	Liberty Latin America, Ltd.*		22,339
	9,557	Liberty Latin America, Ltd., Class C*		74,449
	862	Loyalty Ventures, Inc.*		3,077
	348	Marchex, Inc., Class B*		459
	434	Nexstar Media Group, Inc., Class A		70,690
	605	Pubmatic, Inc.*		9,614
	1,732	Scholastic Corp.		62,300
	1,559	TechTarget, Inc.*		102,458
	10,206	TEGNA, Inc.		214,020
	1,095	Thryv Holdings, Inc.*		24,517

				1,054,717

Metals & Mining (1.6%):
	9,339	Allegheny Technologies, Inc.*		212,089
	1,380	Alpha Metallurgical Resources, Inc.		178,199
	2,124	Ampco-Pittsburgh Corp.*		8,220
	1,062	Arconic Corp.*		29,789
	2,767	Carpenter Technology Corp.		77,227


Shares			Value
Common Stocks, continued
Metals & Mining, continued
	6,425	Century Aluminum Co.*	$	47,352
	8,414	Coeur Mining, Inc.*		25,579
	6,250	Commercial Metals Co.		206,875
	2,394	Compass Minerals International, Inc.		84,724
	10,043	Ferroglobe plc*		59,655
	515	Fortitude Gold Corp.		3,090
	1,805	Gold Resource Corp.		2,942
	1,257	Haynes International, Inc.		41,192
	25,965	Hecla Mining Co.		101,783
	754	Kaiser Aluminum Corp.		59,634
	1,117	Materion Corp.		82,356
	9,373	McEwen Mining, Inc.*		4,117
	798	Royal Gold, Inc.		85,210
	2,868	Ryerson Holding Corp.		61,060
	1,487	Schnitzer Steel Industries, Inc., Class A		48,833
	3,318	SunCoke Energy, Inc.		22,596
	1,338	Synalloy Corp.*		18,812
	3,542	TimkenSteel Corp.*		66,271
	6,784	United States Steel Corp.		121,501
	1,458	Universal Stainless & Alloy Products, Inc.*		10,789
	2,207	Warrior Met Coal, Inc.		67,556
	2,629	Worthington Industries, Inc.		115,939

				1,843,390

Multiline Retail (0.4%):
	1,321	Big Lots, Inc.^		27,701
	710	Dillard’s, Inc., Class A^		156,605
	2,129	Kohl’s Corp.		75,984
	3,771	Macy’s, Inc.		69,085
	526	Nordstrom, Inc.		11,114
	1,573	Ollie’s Bargain Outlet Holdings, Inc.*		92,414
	1,290	Tuesday Morning Corp.*		464

				433,367

Multi-Utilities (0.6%):
	4,891	Avista Corp.		212,807
	2,243	Black Hills Corp.		163,223
	3,280	MDU Resources Group, Inc.		88,527
	2,992	NorthWestern Corp.		176,319
	1,043	Unitil Corp.		61,245
	2,565	Via Renewables, Inc.		19,648

				721,769

Oil, Gas & Consumable Fuels (5.0%):
	2,222	Alto Ingredients, Inc.*		8,244
	23,457	Antero Midstream Corp.		212,286
	6,562	Antero Resources Corp.*		201,125
	1,071	Arch Resources, Inc.		153,249
	1,954	Ardmore Shipping Corp.*		13,619
	4,767	Berry Corp.		36,325
	2,455	Brigham Minerals, Inc.		60,467
	2,716	California Resources Corp.		104,566
	2,330	Callon Petroleum Co.*		91,336
	7,813	Centennial Resource Development, Inc., Class A*		46,722
	1,598	Chesapeake Energy Corp.		129,598
	286	Chord Energy Corp.		34,792
	1,822	Civitas Resources, Inc.		95,272
	11,183	Clean Energy Fuel Corp.*		50,100
	12,514	CNX Resources Corp.*		205,980


Shares			Value
Common Stocks, continued
Oil, Gas & Consumable Fuels, continued
	8,019	Comstock Resources, Inc.*	$	96,870
	2,015	CONSOL Energy, Inc.*		99,501
	4,374	CVR Energy, Inc.		146,529
	4,117	Delek US Holdings, Inc.*		106,383
	1,575	Denbury, Inc.*		94,484
	8,834	DHT Holdings, Inc.		54,152
	2,156	Dorian LPG, Ltd.		32,771
	1,337	DT Midstream, Inc.		65,540
	2,661	Earthstone Energy, Inc.*^		36,323
	17,427	Enlink Midstream LLC		148,130
	15,991	Equitrans Midstream Corp.		101,703
	2,943	Evolution Petroleum Corp.		16,069
	2,611	Green Plains, Inc.*		70,941
	6,066	HF Sinclair Corp.		273,941
	1,720	International Seaways, Inc.		36,464
	29,696	Kosmos Energy, Ltd.*		183,818
	725	Laredo Petroleum, Inc.*		49,981
	6,775	Magnolia Oil & Gas Corp., Class A		142,207
	5,601	Matador Resources Co.		260,951
	6,809	Murphy Oil Corp.		205,564
	9,513	Nordic American Tankers, Ltd.		20,263
	897	Northern Oil And Gas, Inc.		22,658
	5,300	Overseas Shipholding Group, Inc.*		10,865
	2,838	PAR Pacific Holdings, Inc.*		44,244
	6,480	PBF Energy, Inc., Class A*		188,050
	5,985	PDC Energy, Inc.		368,736
	5,636	Peabody Energy Corp.*		120,216
	2,410	PHX Minerals, Inc.		7,326
	6	PrimeEnergy Resources Corp.*		470
	17,188	Range Resources Corp.*		425,403
	523	Ranger Oil Corp.*		17,191
	300	REX American Resources Corp.*		25,440
	1,533	SandRidge Energy, Inc.*		24,022
	3,705	Scorpio Tankers, Inc.		127,860
	8,803	SFL Corp., Ltd.		83,540
	956	SilverBow Resources, Inc.*		27,112
	6,858	SM Energy Co.		234,475
	29,966	Southwestern Energy Co.*		187,288
	2,952	Talos Energy, Inc.*		45,667
	1,980	Teekay Shipping Corp.*		5,702
	2,363	Teekay Tankers, Ltd., Class A*		41,660
	7,528	Tellurian, Inc.*		22,433
	2,838	W&T Offshore, Inc.*		12,260
	1,418	Whiting Petroleum Corp.		96,467
	4,231	World Fuel Services Corp.		86,566

				5,911,917

Paper & Forest Products (0.5%):
	1,565	Clearwater Paper Corp.*		52,631
	3,299	Glatfelter Corp.		22,697
	4,370	Louisiana-Pacific Corp.		229,032
	5,170	Mercer International, Inc.		67,985
	1,100	Neenah, Inc.		37,554
	5,401	Resolute Forest Products*		68,917
	2,103	Schweitzer-Mauduit International, Inc.		52,827
	364	Sylvamo Corp.		11,896

				543,539


Shares			Value
Common Stocks, continued
Personal Products (0.6%):
	1,014	BellRing Brands, Inc.*	$	25,238
	4,160	Coty, Inc., Class A*		33,322
	2,807	Edgewell Personal Care Co.		96,898
	2,868	elf Beauty, Inc.*		87,990
	1,964	Inter Parfums, Inc.		143,490
	900	Lifevantage Corp.		3,915
	546	Medifast, Inc.		98,558
	1,387	Natural Alternatives International, Inc.*		14,480
	369	Natural Health Trends Corp.		1,980
	2,257	Natures Sunshine Products, Inc.*		24,082
	1,929	Nu Skin Enterprises, Inc., Class A		83,526
	340	United-Guardian, Inc.		5,097
	1,070	Usana Health Sciences, Inc.*		77,425

				696,001

Pharmaceuticals (1.2%):
	900	Adicet Bio, Inc.*		13,140
	9,876	Amneal Pharmaceuticals, Inc.*		31,406
	3,334	Amphastar Pharmaceuticals, Inc.*		115,990
	877	ANI Pharmaceuticals, Inc.*		26,021
	1,561	Assembly Biosciences, Inc.*		3,278
	2,268	Collegium Pharmaceutical, Inc.*		40,189
	4,076	Corcept Therapeutics, Inc.*		96,927
	3,415	Cumberland Pharmaceuticals, Inc.*		7,086
	5,512	Cymabay Therapeutics, Inc.*		16,260
	7,607	Endo International plc*		3,542
	1,163	EyePoint Pharmaceuticals, Inc.*		9,153
	528	Harmony Biosciences Holdings, Inc.*		25,750
	1,224	Harrow Health, Inc.*		8,911
	4,514	Innoviva, Inc.*		66,627
	4,810	Intra-Cellular Therapies, Inc.*		274,555
	10,744	Nektar Therapeutics*		40,827
	882	NGM Biopharmaceuticals, Inc.*		11,307
	2,308	Otonomy, Inc.*		4,801
	2,257	Pacira BioSciences, Inc.*		131,583
	2,916	Perrigo Co. plc		118,302
	1,714	Phibro Animal Health Corp., Class A		32,789
	2,694	Prestige Consumer Healthcare, Inc.*		158,407
	420	Relmada Therapeutics, Inc.*		7,976
	911	scPharmaceuticals, Inc.*		4,391
	6,222	SIGA Technologies, Inc.^		72,051
	2,677	Supernus Pharmaceuticals, Inc.*		77,419
	1,505	Taro Pharmaceutical Industries, Ltd.*		54,421

				1,453,109

Professional Services (2.7%):
	1,888	Acacia Research Corp.*		9,516
	3,344	ASGN, Inc.*		301,796
	572	Barrett Business Services, Inc.		41,682
	403	CACI International, Inc., Class A*		113,557
	2,703	CBIZ, Inc.*		108,012
	490	CRA International, Inc.		43,767
	2,812	Exponent, Inc.		257,214
	1,273	Forrester Research, Inc.*		60,900
	882	Franklin Covey Co.*		40,731
	1,796	FTI Consulting, Inc.*		324,807
	1,280	Heidrick & Struggles International, Inc.		41,421
	1,154	Huron Consulting Group, Inc.*		74,998


Shares			Value
Common Stocks, continued
Professional Services, continued
	1,116	ICF International, Inc.	$	106,020
	1,783	Insperity, Inc.		177,997
	6,887	KBR, Inc.		333,262
	2,340	Kelly Services, Inc., Class A		46,402
	1,439	Kforce, Inc.		88,268
	2,641	Korn Ferry		153,231
	958	ManpowerGroup, Inc.		73,201
	1,365	ManTech International Corp., Class A		130,289
	1,332	Mastech Digital, Inc.*		19,793
	3,943	Mistras Group, Inc.*		23,421
	3,203	Nielsen Holdings plc		74,374
	2,119	Resources Connection, Inc.		43,164
	1,557	Science Applications International Corp.		144,957
	3,186	TriNet Group, Inc.*		247,297
	2,309	TrueBlue, Inc.*		41,331
	505	Willdan Group, Inc.*		13,928

				3,135,336

Real Estate Management & Development (0.8%):
	1,580	AMREP Corp.*		17,728
	395	CKX Lands, Inc.*		4,396
	6,494	Cushman & Wakefield plc*		98,968
	4,771	Douglas Elliman, Inc.		22,853
	913	eXp World Holdings, Inc.^		10,746
	1,627	Five Point Holdings LLC, Class A*		6,362
	1,972	Forestar Group, Inc.*		26,997
	504	FRP Holdings, Inc.*		30,416
	2,119	Howard Hughes Corp. (The)*		144,198
	10	J.W. Mays, Inc.*		420
	7,038	Kennedy-Wilson Holdings, Inc.		133,300
	2,463	Marcus & Millichap, Inc.		91,106
	1,035	Maui Land & Pineapple Co., Inc.*		9,801
	8,443	Newmark Group, Inc.		81,644
	1,207	Rafael Holdings, Inc., Class B*		2,257
	688	RE/MAX Holdings, Inc., Class A		16,870
	3,740	Realogy Holdings Corp.*		36,764
	308	Stratus Properties, Inc.*		9,925
	2,279	Tejon Ranch Co.*		35,370
	1,076	The RMR Group, Inc., Class A		30,505
	2,980	The St Joe Co.		117,889

				928,515

Road & Rail (0.8%):
	1,630	ArcBest Corp.		114,703
	1,322	Covenant Logistics Group, Inc.		33,169
	4,045	Heartland Express, Inc.		56,266
	585	Landstar System, Inc.		85,071
	2,692	Marten Transport, Ltd.		45,280
	880	PAM Transportation Services, Inc.*		24,103
	1,507	Ryder System, Inc.		107,087
	1,370	Saia, Inc.*		257,560
	2,170	Schneider National, Inc., Class B		48,565
	1,009	U.S. Xpress Enterprises, Inc., Class A*		2,704
	1,170	Universal Logistics Holdings, Inc.		31,953
	988	USA Truck, Inc.*		31,043
	2,850	Werner Enterprises, Inc.		109,839
	2,752	Yellow Corp.*		8,063

				955,406


Shares			Value
Common Stocks, continued
Semiconductors & Semiconductor Equipment (3.2%):
	2,712	Advanced Energy Industries, Inc.	$	197,922
	1,480	Alpha & Omega Semiconductor, Ltd.*		49,343
	1,591	Ambarella, Inc.*		104,147
	14,790	Amkor Technology, Inc.		250,690
	1,301	Amtech Systems, Inc.*		9,497
	1,903	Axcelis Technologies, Inc.*		104,360
	2,777	AXT, Inc.*		16,273
	1,930	Azenta, Inc.		139,153
	1,210	CEVA, Inc.*		40,608
	2,825	Cirrus Logic, Inc.*		204,925
	1,496	CMC Materials, Inc.		261,037
	2,356	Cohu, Inc.*		65,379
	522	Cyberoptics Corp.*		18,239
	2,615	Diodes, Inc.*		168,851
	639	DSP Group, Inc.*		14,058
	3,918	FormFactor, Inc.*		151,744
	4,679	GSI Technology, Inc.*		16,143
	1,254	Ichor Holdings, Ltd.*		32,579
	1,349	inTEST Corp.*		9,200
	2,631	Kulicke & Soffa Industries, Inc.		112,633
	2,238	Lattice Semiconductor Corp.*		108,543
	349	MACOM Technology Solutions Holdings, Inc.*		16,089
	1,636	MagnaChip Semiconductor Corp.*		23,771
	4,167	MaxLinear, Inc., Class A*		141,595
	4,238	Neophotonics Corp.*		66,664
	557	NVE Corp.		25,967
	2,709	Onto Innovation, Inc.*		188,926
	2,739	PDF Solutions, Inc.*		58,916
	5,140	Photronics, Inc.*		100,127
	2,109	Pixelworks, Inc.*		4,028
	3,012	Power Integrations, Inc.		225,930
	6,043	Rambus, Inc.*		129,864
	3,315	Semtech Corp.*		182,225
	1,031	Silicon Laboratories, Inc.*		144,567
	2,252	SMART Global Holdings, Inc.*		36,865
	1,918	Synaptics, Inc.*		226,420
	2,584	Ultra Clean Holdings, Inc.*		76,926
	2,559	Veeco Instruments, Inc.*		49,645

				3,773,849

Software (2.5%):
	3,492	A10 Networks, Inc.		50,215
	8,259	ACI Worldwide, Inc.*		213,826
	1,294	Agilysys, Inc.*		61,167
	3,759	Alarm.com Holdings, Inc.*		232,532
	3,894	Altair Engineering, Inc.*		204,435
	2,494	American Software, Inc., Class A		40,303
	926	Appfolio, Inc.*		83,933
	935	Asure Software, Inc.*		5,329
	2,721	Avaya Holdings Corp.*		6,095
	2,785	Aware, Inc.*		6,628
	2,916	Blackbaud, Inc.*		169,332
	1,519	Box, Inc.*		38,188
	393	CDK Global, Inc.		21,525
	1,046	Cerence, Inc.*		26,391
	1,700	ChannelAdvisor Corp.*		24,786
	3,799	Cognyte Software, Ltd.*		16,146
	2,139	CommVault Systems, Inc.*		134,543


Shares			Value
Common Stocks, continued
Software, continued
	782	Consensus Cloud Solutions, Inc.*	$	34,158
	609	DoubleVerify Holdings, Inc.*		13,806
	1,708	Duck Creek Technologies, Inc.*^		25,364
	1,817	Ebix, Inc.		30,707
	1,929	Envestnet, Inc.*		101,793
	402	Jamf Holding Corp.*		9,958
	4,947	Mandiant, Inc.*		107,944
	2,038	Mitek Systems, Inc.*		18,831
	554	Model N, Inc.*		14,171
	2,582	OneSpan, Inc.*		30,726
	1,415	Ping Identity Holding Corp.*		25,668
	2,333	Progress Software Corp.		105,685
	293	Q2 Holdings, Inc.*		11,301
	1,989	Qualys, Inc.*		250,892
	4,870	Sailpoint Technologies Holdings, Inc.*		305,252
	1,169	Sapiens International Corp. NV		28,278
	539	Shotspotter, Inc.*		14,504
	1,900	Smith Micro Software, Inc.*		4,693
	684	SPS Commerce, Inc.*		77,326
	3,280	Synchronoss Technologies, Inc.*		3,772
	870	Upland Software, Inc.*		12,632
	3,329	Verint Systems, Inc.*		140,983
	5,538	Vonage Holdings Corp.*		104,336
	7,970	Xperi Holding Corp.		115,007

				2,923,161

Specialty Retail (2.7%):
	1,777	Aaron’s Co., Inc. (The)		25,855
	2,894	Abercrombie & Fitch Co., Class A*		48,967
	12,033	American Eagle Outfitters, Inc.		134,529
	422	America’s Car-Mart, Inc.*		42,453
	1,088	Asbury Automotive Group, Inc.*		184,242
	951	AutoNation, Inc.*		106,284
	5,705	Barnes & Noble Education, Inc.*		16,716
	4,906	Bed Bath & Beyond, Inc.*^		24,383
	1,634	Big 5 Sporting Goods Corp.^		18,317
	1,202	Boot Barn Holdings, Inc.*		82,830
	1,732	Build-A-Bear Workshop, Inc.		28,440
	2,857	Caleres, Inc.		74,968
	407	Camping World Holdings, Inc., Class A^		8,787
	1,799	Cato Corp., Class A		20,886
	7,945	Chico’s FAS, Inc.*		39,487
	757	Citi Trends, Inc.*^		17,903
	2,251	Conn’s, Inc.*^		18,053
	4,771	Designer Brands, Inc., Class A		62,309
	4,657	Foot Locker, Inc.		117,589
	3,840	Gap, Inc. (The)		31,642
	802	Genesco, Inc.*		40,028
	753	Group 1 Automotive, Inc.		127,859
	3,762	Guess?, Inc.		64,142
	1,284	Haverty Furniture Cos., Inc.		29,763
	849	Hibbett, Inc.		37,110
	1,529	LL Flooring Holdings, Inc.*		14,327
	1,251	MarineMax, Inc.*		45,186
	1,923	Monro, Inc.		82,458
	1,315	Murphy U.S.A., Inc.		306,224
	4,234	National Vision Holdings, Inc.*		116,435
	2,301	ODP Corp. (The)*		69,582


Shares			Value
Common Stocks, continued
Specialty Retail, continued
	443	OneWater Marine, Inc.*	$	14,641
	2,843	Penske Automotive Group, Inc.		297,634
	3,598	Rent-A-Center, Inc.		69,981
	6,055	Sally Beauty Holdings, Inc.*		72,176
	1,818	Shoe Carnival, Inc.		39,287
	2,746	Signet Jewelers, Ltd.		146,801
	1,362	Sleep Number Corp.*		42,154
	1,462	Sonic Automotive, Inc., Class A		53,553
	2,363	Sportsman’s Warehouse Holdings, Inc.*		22,661
	3,031	The Buckle, Inc.		83,928
	823	The Children’s Place, Inc.*		32,031
	4,201	The Container Store Group, Inc.*		26,172
	1,307	Tile Shop Holdings, Inc.		4,013
	2,271	Tilly’s, Inc.		15,942
	624	TravelCenters of America, Inc.*		21,509
	5,052	Urban Outfitters, Inc.*		94,270
	303	Winmark Corp.		59,258
	1,091	Zumiez, Inc.*		28,366

				3,162,131

Technology Hardware, Storage & Peripherals (0.5%):
	4,872	3D Systems Corp.*		47,259
	1,308	AstroNova, Inc.*		15,670
	2,793	Avid Technology, Inc.*		72,478
	6,556	NCR Corp.*		203,957
	3,811	Stratasys, Ltd.*		71,418
	2,418	Super Micro Computer, Inc.*		97,566
	1,590	TransAct Technologies, Inc.*		6,424
	600	Turtle Beach Corp.*		7,338
	3,587	Xerox Holdings Corp.		53,267

				575,377

Textiles, Apparel & Luxury Goods (1.0%):
	2,061	Carter’s, Inc.		145,259
	2,038	Columbia Sportswear Co.		145,880
	2,119	Crocs, Inc.*		103,132
	2,291	Culp, Inc.		9,851
	2,091	Fossil Group, Inc.*		10,811
	2,571	G-III Apparel Group, Ltd.*		52,011
	1,322	Hanesbrands, Inc.		13,603
	3,180	Kontoor Brands, Inc.		106,117
	816	Lakeland Industries, Inc.*		12,534
	844	Movado Group, Inc.		26,105
	1,001	Oxford Industries, Inc.		88,829
	1,176	PVH Corp.		66,914
	674	Rocky Brands, Inc.		23,037
	1,823	Skechers U.S.A., Inc., Class A*		64,862
	4,466	Steven Madden, Ltd.		143,850
	418	Superior Group of Cos., Inc.		7,420
	957	Unifi, Inc.*		13,455
	1,916	Vera Bradley, Inc.*		8,315
	4,779	Wolverine World Wide, Inc.		96,345

				1,138,330

Thrifts & Mortgage Finance (2.3%):
	4,495	Axos Financial, Inc.*		161,146
	2,838	BankFinancial Corp.		26,649
	2,024	Bridgewater Bancshares, Inc.*		32,667
	7,770	Capitol Federal Financial, Inc.		71,329


Shares			Value
Common Stocks, continued
Thrifts & Mortgage Finance, continued
	280	Citizens Community Bancorp, Inc.	$	3,872
	5,449	Columbia Financial, Inc.*		118,843
	1,537	ESSA Bancorp, Inc.		25,822
	4,677	Essent Group, Ltd.		181,935
	596	Federal Agricultural Mortgage Corp.		58,199
	242	First Capital, Inc.		6,556
	1,936	Flagstar Bancorp, Inc.		68,631
	986	FS Bancorp, Inc.		28,308
	150	Hingham Institution for Savings (The)		42,566
	629	HMN Financial, Inc.		14,517
	973	Home Bancorp, Inc.		33,209
	86	Home Federal Bancorp, Inc.		1,803
	1,162	HomeStreet, Inc.		40,287
	869	IF Bancorp, Inc.		16,511
	3,933	Kearny Financial Corp.		43,696
	390	Kentucky First Federal Bancorp		3,108
	289	LendingTree, Inc.*		12,664
	1,892	Luther Burbank Corp.		24,691
	940	Malvern Bancorp, Inc.*		15,106
	1,851	Merchants Bancorp		41,962
	1,842	Meta Financial Group, Inc.		71,230
	2,242	MGIC Investment Corp.		28,249
	3,941	Mr Cooper Group, Inc.*		144,792
	18,699	New York Community Bancorp, Inc.		170,722
	4,642	NMI Holdings, Inc., Class A*		77,289
	3,578	Northfield Bancorp, Inc.		46,621
	6,541	Northwest Bancshares, Inc.		83,725
	3,132	Oceanfirst Financial Corp.		59,915
	198	Oconee Federal Financial Corp.		4,376
	1,129	Ocwen Financial Corp.*		30,935
	2,010	PCSB Financial Corp.		38,371
	1,668	Premier Financial Corp.		42,284
	1,677	Provident Financial Holdings, Inc.		24,870
	3,721	Provident Financial Services, Inc.		82,829
	1,685	Prudential Bancorp, Inc.		25,494
	4,780	Radian Group, Inc.		93,927
	1,982	Riverview Bancorp, Inc.		13,042
	3,589	Security National Financial Corp., Class A*		30,362
	707	Southern Missouri Bancorp, Inc.		31,999
	1,053	Sterling Bancorp, Inc.*		6,002
	1,409	Territorial Bancorp, Inc.		29,378
	3,100	TFS Financial Corp.		42,563
	1,462	TrustCo Bank Corp. NY		45,088
	1,677	Walker & Dunlop, Inc.		161,562
	3,395	Washington Federal, Inc.		101,918
	1,247	Waterstone Financial, Inc.		21,261
	3,601	Western New England BanCorp, Inc.		26,863
	3,813	WSFS Financial Corp.		152,863
	35	WVS Financial Corp.		521

				2,763,128

Tobacco (0.2%):
	763	Turning Point Brands, Inc.		20,700
	975	Universal Corp.		58,988
	9,542	Vector Group, Ltd.		100,191

				179,879


Shares			Value
Common Stocks, continued
Trading Companies & Distributors (2.2%):
	7,242	Air Lease Corp.	$	242,100
	1,077	Alta Equipment Group, Inc.*		9,661
	2,358	Applied Industrial Technologies, Inc.		226,769
	3,172	Beacon Roofing Supply, Inc.*		162,914
	569	BlueLinx Holdings, Inc.*		38,015
	1,324	Boise Cascade Co.		78,765
	1,278	DXP Enterprises, Inc.*		39,145
	1,463	EVI Industries, Inc.*		14,615
	1,550	GATX Corp.		145,948
	2,103	Global Industrial Co.		71,018
	573	GMS, Inc.*		25,498
	1,299	H&E Equipment Services, Inc.		37,632
	1,516	Herc Holdings, Inc.		136,667
	1,475	Kaman Corp., Class A		46,094
	989	Lawson Products, Inc.*		50,825
	4,569	MRC Global, Inc.*		45,507
	2,121	MSC Industrial Direct Co., Inc.		159,308
	7,964	NOW, Inc.*		77,888
	1,839	Rush Enterprises, Inc., Class A		88,640
	200	Rush Enterprises, Inc., Class B		9,922
	369	SiteOne Landscape Supply, Inc.*		43,863
	2,140	Textainer Group Holdings, Ltd.		58,657
	1,548	Titan Machinery, Inc.*		34,691
	577	Transcat, Inc.*		32,779
	3,118	Triton International, Ltd.		164,163
	5,651	Univar Solutions, Inc.*		140,540
	1,034	Veritiv Corp.*		112,241
	2,366	WESCO International, Inc.*		253,399

				2,547,264

Water Utilities (0.5%):
	2,100	American States Water Co.		171,171
	824	Artesian Resources Corp.		40,516
	2,717	California Water Service Group		150,929
	1,256	Consolidated Water Co., Ltd.		18,212
	925	Middlesex Water Co.		81,104
	2,502	Pure Cycle Corp.*		26,371
	1,615	SJW Group		100,792
	859	York Water Co. (The)		34,730

				623,825

Wireless Telecommunication Services (0.2%):
	1,803	Gogo, Inc.*		29,190
	2,895	Shenandoah Telecommunications Co.		64,269
	2,722	Spok Holdings, Inc.		17,149
	5,534	Telephone & Data Systems, Inc.		87,382
	2,003	United States Cellular Corp.*		58,007

				255,997

	Total Common Stocks (Cost $101,800,069)			117,861,427

Preferred Stocks (0.1%):
Media (0.0%^†):
	430	Liberty Broadband Corp., Series A		11,145

Trading Companies & Distributors (0.1%):
	2,540	WESCO International, Inc., Series A		69,647

	Total Preferred Stocks (Cost $70,827)			80,792


Shares			Value
Rights (0.0%^†):
Biotechnology (0.0%^†):
	8,857	Achillion Pharm CVR, Expires on 1/29/49*	$	12,843
	2,004	Chinook Therapeutics-CVR, Expires on 12/31/49*		3,269

				16,112

Health Care (0.0%^†):
	4,400	Progenics Pharmaceuticals, Inc., Expires on 12/31/49*(a)		3,696
	2,689	Zogenix, Inc. CVR, Expires on 1/1/25*		1,829

				5,525

Household Durables (0.0%^†):
	4,044	Zagg, Inc. CVR, Expires on 1/2/49*		364

Pharmaceuticals (0.0%^†):
	8,452	Xeris BioPharma Hold CVR, Expires on 10/6/49*		2,282

Trading Companies & Distributors (0.0%^†):
	79	Communications Systems I CVR, Expires on 1/1/29*(a)		—

	Total Rights (Cost $364)			24,283


Shares or Principal Amount			Value
Short-Term Security Held as Collateral for Securities on Loan (0.6%):
	749,083	BlackRock Liquidity FedFund, Institutional Class , 0.19%(b)(c)	$	749,083

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $749,083)			749,083

Unaffiliated Investment Company (0.4%):
Money Markets (0.4%):
	442,582	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(c)		442,582

	Total Unaffiliated Investment Company (Cost $442,582)			442,582

	Total Investment Securities (Cost $103,062,925) — 100.8%			119,158,167
	Net other assets (liabilities) — (0.8)%			(923,687	)

	Net Assets — 100.0%		$	118,234,480

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	103,062,925

Investment securities, at value(a)	$	119,158,167
Interest and dividends receivable		79,271
Receivable for investments sold		42,990
Prepaid expenses		414

Total Assets		119,280,842

Liabilities:
Payable for investments purchased		178,967
Payable for collateral received on loaned securities		749,083
Manager fees payable		70,942
Administration fees payable		17,719
Distribution fees payable		25,336
Custodian fees payable		816
Administrative and compliance services fees payable		98
Transfer agent fees payable		668
Trustee fees payable		833
Other accrued liabilities		1,900

Total Liabilities		1,046,362

Net Assets	$	118,234,480

Net Assets Consist of:
Paid in capital	$	64,771,722
Total distributable earnings		53,462,758

Net Assets	$	118,234,480

Shares of beneficial interest (unlimited number of shares authorized, no par value)		9,773,115
Net Asset Value (offering and redemption price per share)	$	12.10

(a)	Includes securities on loan of $703,853.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Dividends	$	885,199
Interest		9
Income from securities lending		2,446
Foreign withholding tax		(818	)

Total Investment Income		886,836

Expenses:
Management fees		577,310
Administration fees		24,675
Distribution fees		169,797
Custodian fees		4,638
Administrative and compliance services fees		798
Transfer agent fees		2,598
Trustee fees		3,160
Professional fees		2,551
Shareholder reports		829
Other expenses		2,033

Total expenses before reductions		788,389
Less Management fees contractually waived		(101,878	)

Net expenses		686,511

Net Investment Income/(Loss)		200,325
Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities and foreign currencies		5,616,483
Change in net unrealized appreciation/depreciation on securities and foreign currencies		(32,745,968	)

Net realized and Change in net unrealized gains/losses on investments		(27,129,485	)

Change in Net Assets Resulting From Operations	$	(26,929,160	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services — Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL DFA U.S. Small Cap Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

To generate additional income, the Fund may lend up to 33 1/3% of its assets pursuant to agreements requiring that the loan be continuously secured by any combination of cash, U.S. government or U.S. government agency securities, equal initially to at least 102% of the fair value plus accrued interest on the securities loaned (105% for foreign securities). The borrower of securities is at all times required to post collateral to the Fund in an amount equal to 100% of the fair value of the securities loaned based on the previous day’s fair value of the securities loaned, marked-to-market daily. Any collateral shortfalls are adjusted the next business day. The Fund bears all of the gains and losses on such investments. The Fund receives payments from borrowers equivalent to the dividends and interest that would have been earned on securities lent while simultaneously seeking to earn income on the investment of cash collateral received. In extremely low interest rate environments, the broker rebate fee may exceed the interest earned on the cash collateral which would result in a loss to the Fund. The investment of cash collateral deposited by the borrower is subject to inherent market risks such as interest rate risk, credit risk, liquidity risk, and other risks that are present in the market, and as such, the value of these investments may not be sufficient, when liquidated, to repay the borrower when the loaned security is returned. There may be risks of delay in recovery of the securities or even loss of rights in the collateral should the borrower of the securities fail financially. However, loans will be made only to borrowers, such as broker-dealers, banks or institutional borrowers of securities, deemed by the Manager to be of good standing and credit worthy and when in its judgment, the consideration which can be earned currently from such securities loans justifies the attendant risks. Loans are subject to termination by the Trust or the borrower at any time, and are, therefore, not considered to be illiquid investments. Securities on loan at June 30, 2022 are presented on the Fund’s Schedule of Portfolio Investments.

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $216 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $749,083 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

annual fee for providing infrastructure and support in implementing the written policies and procedures comprising the Fund’s compliance program. The Administrator is also reimbursed for certain expenses incurred. The total expenses incurred by the Fund for these services are reflected on the Statement of Operations as “Administration fees.”

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

Value Stocks Risk: Value stocks may perform differently from the market as a whole and following a value-oriented investment strategy may cause the Fund to at times underperform equity funds that use other investment strategies.

Capitalization Risk: Investing in small- to mid-sized companies creates risk because smaller companies may have unpredictable or limited earnings, and their securities may be less liquid or experience more volatile prices than those of large companies.

The current outbreak of the novel strain of coronavirus, COVID-19, has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain the spread of COVID-19 have resulted in travel restrictions, closed international borders, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, defaults and other significant economic impacts, all of which have disrupted global economic activity across many industries and may exacerbate other pre-existing political, social and economic risks, locally or globally. The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Fund’s performance.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $107,010.830. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had an individual shareholder account which is affiliated with the Manager representing ownership in excess of 60% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

As a shareholder of the AZL Enhanced Bond Index Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Principal Amount			Value
Asset Backed Securities (4.4%):
$	2,266,318	American Homes 4 Rent LLC, Class A, Series 2014-SFR3, 3.68%, 12/17/36(a)	$	2,244,516
	1,640,000	Benchmark Mortgage Trust, Class A4, Series 2018-B7, 4.51%, 11/15/51, Callable 10/15/28 @ 100		1,655,908
	10,281,000	Capital One Multi-Asset Execution Trust, Class A, Series 2022-A2, 3.49%, 5/15/27		10,291,511
	3,593,000	CarMax Auto Owner Trust, Class A2A, Series 2022-2, 2.81%, 5/15/25, Callable 4/15/25 @ 100		3,581,047
	1,062,755	College Ave Student Loans LLC, Class A2, Series 2021-C, 2.32%, 7/26/55(a)		972,441
	158,705	College Ave Student Loans LLC, Class A1, Series 2021-A, 2.72%(US0001M+110bps), 7/25/51, Callable 2/25/32 @ 100(a)		158,414
	1,198,215	College Avenue Student Loans LLC, Class A2, Series 2021-B, 1.76%, 6/25/52, Callable 1/25/34 @ 100(a)		1,119,480
	3,400,000	Credit Acceptance Auto Loan Trust, Class A, Series 2021-4, 1.26%, 10/15/30, Callable 4/15/25 @ 100(a)		3,202,175
	160,000	Credit Acceptance Auto Loan Trust, Class A, Series 20-2A, 1.37%, 7/16/29, Callable 1/15/24 @ 100(a)		157,618
	3,640,000	Credit Acceptance Auto Loan Trust, Class A, Series 2021-2A, 0.96%, 2/15/30, Callable 12/15/24 @ 100(a)		3,485,912
	1,880,000	Credit Acceptance Auto Loan Trust, Class A, Series 2021-3A, 1.00%, 5/15/30, Callable 11/15/24 @ 100(a)		1,788,726
	467,481	EDvestinU Private Education Loan Issue No 3 LLC, Class A, Series 2021-A, 1.80%, 11/25/45(a)		407,605
	4,158,000	Ford Credit Auto Lease Trust, Class A2A, Series 2022-A, 2.78%, 10/15/24		4,132,279
	451,462	Goodleap Sustainable Home Solutions Trust, Class A, Series 2022-1GS, 2.70%, 1/20/49, Callable 4/20/36 @ 100(a)		416,222
	950,467	GoodLeap Sustainable Home Solutions Trust, Class A, Series 2021-5CS, 2.31%, 10/20/48, Callable 6/20/36 @ 100(a)		831,812
	1,755,918	GoodLeap Sustainable Home Solutions Trust, Class A, Series 2021-4GS, 1.93%, 7/20/48, Callable 5/20/36 @ 100(a)		1,496,279
	2,960,000	GPMT, Ltd., Class A, Series 2021-FL4, 2.99%(US0001M+135bps), 11/15/36, Callable 11/20/23 @ 100(a)		2,849,400
	1,390,000	Lendmark Funding Trust, Class A, Series 2021-1A, 1.90%, 11/20/31, Callable 5/20/26 @ 100(a)		1,203,764
	197,491	LoanCore Issuer, Ltd., Class A, Series 2018-CRE1, 2.45%(US0001M+113bps), 5/15/28, Callable 7/15/22 @ 100(a)		196,605
	1,200,000	Mariner Finance Issuance Trust, Class A, Series 2021-AA, 1.86%, 3/20/36, Callable 3/20/26 @ 100(a)		1,062,586
	1,674,031	Mosaic Solar Loan Trust, Class A, Series 2022-1A, 2.64%, 1/20/53, Callable 2/20/36 @ 100(a)		1,533,482
	1,161,436	Navient Private Education Loan Trust, Class A1B, Series 2020-lA, 2.32%(US0001M+100bps), 4/15/69, Callable 1/15/31 @ 100(a)		1,160,609
	7,068,380	Navient Private Education Refi Loan Trust, Class A, Series 2021-EA, 0.97%, 12/16/69, Callable 4/15/29 @ 100(a)		6,388,586


Principal Amount			Value
Asset Backed Securities, continued
$	2,578,698	Navient Private Education Refi Loan Trust, Class A, Series 2021-DA, 2.01%(PRIME-(199)bps), 4/15/60, Callable 5/15/32 @ 100(a)	$	2,496,585
	2,347,724	Navient Private Education Refi Loan Trust, Class A, Series 20-FA, 1.22%, 7/15/69, Callable 11/15/26 @ 100(a)		2,236,142
	502,829	Navient Private Education Refi Loan Trust, Class A, Series 2021-A, 0.84%, 5/15/69, Callable 11/15/27 @ 100(a)		460,241
	4,607,000	Navient Private Education Refi Loan Trust, Class A, Series 2022-BA, 4.16%, 10/15/70, Callable 2/15/29 @ 100(a)		4,554,879
	972,132	Navient Student Loan Trust, Class A2B, Series 2020-CA, 2.92%(US0001M+160bps), 11/15/68, Callable 11/15/30 @ 100(a)		969,648
	1,874,775	Navient Student Loan Trust, Class A2B, Series 2019-D, 2.37%(US0001M+105bps), 12/15/59, Callable 1/15/31 @ 100(a)		1,843,302
	160,662	Navient Student Loan Trust, Class A2, Series 2018-EA, 4.00%, 12/15/59, Callable 3/15/25 @ 100(a)		160,371
	4,236,624	Nelnet Student Loan Trust, Class AFL, Series 2021-CA, 2.34%(US0001M+74bps), 4/20/62, Callable 2/20/31 @ 100(a)		4,145,442
	3,563,887	Nelnet Student Loan Trust, Class APT2, Series 2021-A, 1.36%, 4/20/62, Callable 9/20/29 @ 100(a)		3,328,102
	2,938,908	Nelnet Student Loan Trust, Class AFX, Series 2021-DA, 1.63%, 4/20/62, Callable 5/20/31 @ 100(a)		2,759,163
	6,783,838	Nelnet Student Loan Trust, Class AFL, Series 2021-BA, 2.38%(US0001M+78bps), 4/20/62, Callable 7/20/29 @ 100(a)		6,724,752
	1,400,000	PFS Financing Corp., Class A, Series 2021-A, 0.71%, 4/15/26(a)		1,319,289
	774,827	Prodigy Finance CM2021-1 DAC, Class A, Series 2021-1A, 2.87%(US0001M+125bps), 7/25/51, Callable 2/25/27 @ 100(a)		768,201
	2,009,000	Regional Management Issuance Trust, Class A, Series 2021-2, 0.02%, 8/15/33, Callable 8/15/26 @ 100(a)		1,775,538
	4,240,502	SMB Private Education Loan Trust, Class A2A1, Series 2021-A, 2.05%(US0001M+73bps), 1/15/53(a)		4,131,636
	3,476,369	SMB Private Education Loan Trust, Class APT, Series 2022-A, 2.85%, 11/16/54(a)		3,259,375
	1,944,886	SMB Private Education Loan Trust, Class A1A, Series BA, 1.29%, 7/15/53(a)		1,770,005
	319,317	SMB Private Education Loan Trust, Class A2B, Series 2020-A, 2.15%(US0001M+83bps), 9/15/37(a)		316,591
	1,383,755	SMB Private Education Loan Trust, Class APT1, Series 2021-C, 1.39%, 1/15/53(a)		1,265,915
	392,141	SMB Private Education Loan Trust, Class A2B, Series 2017-B, 2.07%(US0001M+75bps), 10/15/35(a)		387,504
	490,000	SMB Private Education Loan Trust, Class B, Series 2021-A, 2.31%, 1/15/53(a)		454,417
	13,418	SoFi Professional Loan Program, Class A2B, Series 2016-D, 2.34%, 4/25/33, Callable 1/25/24 @ 100(a)		13,296


Principal Amount			Value
Asset Backed Securities, continued
$	658,963	SoFi Professional Loan Program, Class AFX, Series 2020-C, 1.95%, 2/15/46, Callable 2/15/28 @ 100(a)	$	629,252
	541,053	SoFi Professional Loan Program, Class A2FX, Series 2019-B, 3.09%, 8/17/48, Callable 4/15/26 @ 100(a)		529,103
	1,542,323	SoFi Professional Loan Program, Class A2FX, Series 2017-F, 2.84%, 1/25/41, Callable 4/25/25 @ 100(a)		1,518,606
	1,329,389	SoFi Professional Loan Program, Class A2FX, Series 2020-A, 2.54%, 5/15/46, Callable 4/15/27 @ 100(a)		1,273,195

	Total Asset Backed Securities (Cost $103,693,164)			99,427,527

Collateralized Mortgage Obligations (7.1%):
	1,930,000	ACRES Commercial Realty, Ltd., Class A, Series 2021-FL2, 2.92%(US0001M+140bps), 1/15/37, Callable 12/15/23 @ 100(a)		1,847,496
	2,000,000	AIMCO CLO, Class AR, Series 2017-AA, 2.11%(US0003M+105bps), 4/20/34, Callable 4/20/23 @ 100(a)		1,918,636
	2,810,000	Alen Mortgage Trust, Class A, Series 2021-ACEN, 2.47%(US0001M+115bps), 4/15/38(a)		2,746,550
	1,000,000	Anchorage Capital CLO 7, Ltd., Class AR2, Series 2015-7A, 2.33%(US0003M+109bps), 1/28/31, Callable 7/28/22 @ 100(a)		985,444
	2,094,416	Angel Oak Mortgage Trust, Class A1, Series 2022-1, 2.88%, 12/25/66, Callable 1/25/25 @ 100(a)(b)		1,989,729
	1,735,000	Arbor Multifamily Mortgage Securities Trust, Class A5, Series 2020-MF1, 2.76%, 5/15/53, Callable 2/15/30 @ 100(a)		1,554,917
	4,240,000	Arbor Realty Commercial Real Estate Notes, Ltd., Class A, Series 2021-FL4, 2.67%(US0001M+135bps), 11/15/36, Callable 6/15/24 @ 100(a)		4,102,200
	500,000	Ares XXXIIR CLO, Ltd., Class A1A, Series 2014-32RA, 2.35%(US0003M+94bps), 5/15/30, Callable 8/15/22 @ 100(a)		488,804
	1,780,000	BANK, Class A5, Series 2021-BN38, 2.52%, 12/15/64, Callable 12/15/31 @ 100		1,541,106
	1,920,000	BANK, Class A5, Series 2022-BNK42, 4.49%, 6/15/55, Callable 5/15/32 @ 100(b)		1,955,328
	3,850,000	Barclays Commercial Mortgage Trust, Class A, Series 2018-TALL, 2.05%(US0001M+72bps), 3/15/37(a)		3,671,860
	1,250,000	Battalion CLO VIII, Ltd., Class A1R2, Series 2015-8A, 2.11%(US0003M+107bps), 7/18/30, Callable 7/18/22 @ 100(a)		1,226,846
	2,290,000	Battalion CLO X, Ltd., Class A1R2, Series 2016-10A, 2.35%(US0003M+117bps), 1/25/35, Callable 1/24/23 @ 100(a)		2,214,741
	2,090,000	BBCMS Mortgage Trust, Class A5, Series 2022-C16, 4.60%, 6/15/55, Callable 5/15/32 @ 100(b)		2,142,668
	4,580,000	BDS, Ltd., Class A, Series 2021-FL10, 2.96%(US0001M+135bps), 12/18/36, Callable 12/16/23 @ 100(a)		4,409,682
	668,000	Benchmark Mortgage Trust, Class C, Series 2019-B15, 3.84%, 12/15/72, Callable 12/15/29 @ 100		591,688


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	1,250,000	Benchmark Mortgage Trust, Class B, Series 2019-B15, 3.56%, 12/15/72, Callable 11/15/29 @ 100	$	1,131,500
	2,280,000	Benchmark Mortgage Trust, Class A5, Series 2022-B35, 4.59%, 5/15/55, Callable 5/15/32 @ 100(b)		2,317,164
	1,000,000	Benchmark Mortgage Trust, Class A5, Series 2022-B33, 3.46%, 1/15/32		934,500
	1,540,000	BSPRT Issuer, Ltd., Class A, Series 2021-FL7, 2.64%(US0001M+132bps), 12/15/38, Callable 12/15/23 @ 100(a)		1,465,789
	1,120,000	BX, Class A, Series 2021-MFM1, 2.02%(US0001M+70bps), 1/15/34(a)		1,076,723
	3,350,000	BX Commercial Mortgage Trust, Class A, Series 2020-ViV4, 2.84%, 3/9/44(a)		2,916,342
	2,525,015	BX Commercial Mortgage Trust, Class A, Series 2021-XL2, 2.01%(US0001M+69bps), 10/15/36(a)		2,405,203
	1,817,555	BX Commercial Mortgage Trust, Class A, Series 2019-XL, 2.24%(US0001M+92bps), 10/15/36(a)		1,785,657
	2,110,000	BX Commercial Mortgage Trust, Class A, Series 2021-CIP, 2.25%(US0001M+92bps), 12/15/28(a)		2,046,547
	551,000	BX Trust, Class D, Series 2019-OC11, 4.08%, 12/9/41(a)		479,772
	4,800,000	BX Trust, Class A, Series 2021-ARIA, 2.22%(US0001M+90bps), 10/15/36(a)		4,511,356
	603,000	Cantor Commercial Real Estate Lending, Class B, Series 2019-CF3, 3.50%, 1/15/53, Callable 12/15/29 @ 100(b)		540,258
	615,000	Cantor Commercial Real Estate Lending, Class A4, Series 2019-CF2, 2.62%, 11/15/52, Callable 8/15/29 @ 100		554,367
	2,235,000	Cedar Funding VI CLO, Ltd., Class AAA, Series 2016-6A, 2.11%(US0003M+105bps), 4/20/34, Callable 4/20/23 @ 100(a)		2,137,869
	1,950,000	CEDR Commercial Mortgage Trust, Class A, Series 2022-SNAI, 2.27%(TSFR1M+99bps), 2/15/39(a)		1,840,375
	760,000	CGRBS Commercial Mortgage Trust, Class A, Series 2013-VN05, 3.37%, 3/13/35(a)		757,021
	269,344	Chase Home Lending Mortgage Trust, Class A11, Series 2019-ATR2, 2.52%(US0001M+90bps), 7/25/49, Callable 3/25/24 @ 100(a)		280,429
	789,605	CIM Trust, Class A11, Series 2019-INV3, 1.96%(US0001M+100bps), 8/25/49, Callable 2/25/25 @ 100(a)		781,947
	1,015,000	Commercial Mortgage Loan Trust, Class D, Series 2013-WWP, 3.90%, 3/10/31, Callable 3/10/23 @ 100(a)		1,021,313
	3,075,000	Commercial Mortgage Loan Trust, Class A4, Series 2015-CCRE26, 3.63%, 10/10/48, Callable 8/10/25 @ 100		3,016,175
	667,000	Commercial Mortgage Loan Trust, Class A5, Series 2015-CR24, 3.70%, 8/10/48, Callable 7/10/25 @ 100		656,695
	1,279,058	Commercial Mortgage Loan Trust, Class AM, Series 2013-CR7, 3.31%, 3/10/46, Callable 4/10/23 @ 100(a)		1,268,583


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	2,257,191	Credit Suisse Mortgage Capital Certificates, Class A, Series 2020-NET, 2.26%, 8/15/37(a)	$	2,091,468
	1,195,000	CSAIL Commercial Mortgage Trust, Class B, Series 2019-C15, 4.48%, 3/15/52		1,139,624
	210,000	CSAIL Commercial Mortgage Trust, Class A5, Series 2018-CX11, 4.03%, 4/15/51, Callable 2/15/28 @ 100(b)		205,340
	2,335,000	CSMC, Class B, Series 2021-BHAR, 2.82%(US0001M+150bps), 11/15/38(a)		2,258,662
	1,796,071	CSMC, Class A1, Series 2021-NQM8, 1.84%, 10/25/66, Callable 11/25/24 @ 100(a)(b)		1,617,350
	899,220	Deephaven Residential Mortgage Trust, Class A1, Series 2022-2, 4.30%, 3/25/67, Callable 4/25/25 @ 100(a)(b)		870,427
	2,000,000	Dewolf Park CLO, Ltd., Class AR, Series 2017-1A, 1.96%(US0003M+92bps), 10/15/30, Callable 7/15/22 @ 100(a)		1,960,236
	1,440,000	Diameter Capital CLO 1, Ltd., Class A1A, Series 2021-1A, 2.28%(US0003M+124bps), 7/15/36, Callable 10/15/23 @ 100(a)		1,399,260
	2,095,000	Dryden 43 Senior Loan Fund, Class AR2, Series 2016-43A, 2.10%(US0003M+104bps), 4/20/34, Callable 4/20/23 @ 100(a)		2,013,360
	800,000	Dryden 75 CLO, Ltd., Class AR2, Series 2019-75A, 2.08%(US0003M+104bps), 4/15/34, Callable 4/15/23 @ 100(a)		772,020
	4,750,000	Elmwood CLO II, Ltd., Class AR, Series 2019-2A, 2.21%(US0003M+115bps), 4/20/34, Callable 4/20/23 @ 100(a)		4,602,484
	5,376,908	Extended Stay America Trust, Class A, Series 2021-ESH, 2.41%(US0001M+108bps), 7/15/38(a)		5,241,840
	566,039	Flagstar Mortgage Trust, Class A11, Series 2019-1, 1.96%(US0001M+95bps), 10/25/49, Callable 2/25/28 @ 100(a)		558,247
	1,055,303	FRESB Multifamily Mortgage Pass Through, Class A10H, Series 2019-SB60, 3.50%(US0001M+350bps), 1/25/39, Callable 12/25/28 @ 100		1,015,107
	1,230,000	FS RIALTO, Class A, Series 2021-FL2, 2.73%(US0001M+122bps), 4/16/26, Callable 4/16/23 @ 100		1,182,696
	2,720,000	FS Rialto Issuer LLC, Class A, Series 2022-FL4, 2.69%(SOFR30A+190bps), 1/19/39, Callable 4/17/24 @ 100(a)		2,627,504
	3,365,275	GCAT Trust, Class A1, Series 2021-NQM7, 1.91%, 8/25/66, Callable 9/25/24 @ 100(a)(b)		3,142,291
	3,805,635	GS Mortgage Backed Securities Corp. Trust, Class A4, Series 2022-PJ2, 2.50%, 6/25/52, Callable 3/25/34 @ 100(a)(b)		3,248,722
	1,712,483	GS Mortgage-Backed Securities Trust, Class A2, Series 2021-PJ6, 2.50%, 11/25/51, Callable 8/25/42 @ 100(a)(b)		1,463,210
	1,525,000	IMT Trust, Class BFX, Series 2017-APTS, 3.61%, 6/15/34(a)(b)		1,509,613
	270,000	J.P. Morgan Chase Commercial Mortgage Securities Trust, Class D, Series 2022-OPO, 3.56%, 1/5/39(a)(b)		227,073
	2,477,211	J.P. Morgan Mortgage Trust, Class A3B, Series 2022-INV3, 3.00%, 9/25/52, Callable 9/25/38 @ 100(a)(b)		2,197,654


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	585,836	JP Morgan Chase Commercial Mortgage Securities Corp., Class A, Series 2021-MHC, 2.12%(US0001M+80bps), 4/15/38(a)	$	565,386
	3,660,000	JP Morgan Chase Commercial Mortgage Securities Trust, Class A, Series 2021-NYAH, 2.08%(US0001M+76bps), 6/15/38		3,476,966
	181,211	JP Morgan Mortgage Trust, Class A11, Series 2019-7, 2.52%(US0001M+90bps), 2/25/50, Callable 10/25/23 @ 100(a)		178,978
	135,790	JP Morgan Mortgage Trust, Class A11, Series 2019-LTV3, 1.86%(US0001M+85bps), 2/25/50, Callable 3/25/23 @ 100(a)		134,226
	181,593	JP Morgan Mortgage Trust, Class A5, Series 2019-LTV3, 3.50%, 2/25/50, Callable 3/25/23 @ 100(a)(b)		177,322
	453,861	JP Morgan Mortgage Trust, Class A11, Series 2019-INV3, 2.01%(US0001M+100bps), 5/25/50, Callable 7/25/28 @ 100(a)		446,771
	508,460	JP Morgan Mortgage Trust, Class A11, Series 2019-INV2, 2.52%(US0001M+90bps), 2/25/50, Callable 6/25/25 @ 100(a)		502,214
	124,924	JP Morgan Mortgage Trust, Class A11, Series 2020-LTV1, 2.01%(US0001M+100bps), 6/25/50, Callable 1/25/26 @ 100(a)		122,847
	700,000	JPMDB Commercial Mortgage Securities Trust, Class A5, Series 2017-C5, 3.69%, 3/15/50, Callable 1/15/27 @ 100		683,263
	2,904,000	KNDL Mortgage Trust, Class A, Series 2019-KNSQ, 2.12%(US0001M+80bps), 5/15/36(a)		2,845,775
	1,503,944	Life Mortgage Trust, Class A, Series 2021-BMR, 2.02%(US0001M+70bps), 3/15/38(a)		1,441,801
	1,875,000	LoanCore Issuer, Ltd., Class A, Series 2021-CRE6, 2.62%(US0001M+130bps), 11/15/38, Callable 11/15/23 @ 100(a)		1,795,563
	3,062,290	Mello Mortgage Capital Acceptance, Class A3, Series 2022-INV2, 3.00%, 4/25/52, Callable 7/25/46 @ 100(a)(b)		2,714,791
	630,000	MF1, Class A, Series 2021-W10, 2.35%(SOFR30A+107bps), 12/15/24(a)		603,531
	3,570,000	MHP, Class A, Series 2021-STOR, 2.02%(US0001M+70bps), 7/15/38(a)		3,421,691
	1,189,164	Morgan Stanley Bank of America Merrill Lynch Trust, Class A3, Series 2015-C24, 3.48%, 5/15/48, Callable 5/15/25 @ 100		1,162,764
	1,563,000	Morgan Stanley Capital I Trust, Class A, Series 2019-NUGS, 2.45%(US0001M+95bps), 12/15/36(a)		1,567,126
	1,540,000	Morgan Stanley Capital I Trust, Class A4, Series 2016-BNK2, 3.05%, 11/15/49, Callable 10/15/26 @ 100		1,470,223
	2,545,000	MTN Commercial Mortgage Trust, Class A, Series 2022-LPFL, 2.68%(TSFR1M+140bps), 3/15/39(a)		2,481,167
	1,559,193	OBX Trust, Class A1, Series 2022-INV3, 3.00%, 2/25/52, Callable 6/25/43 @ 100(a)(b)		1,384,210
	1,905,000	Octagon 66, Ltd., Class A, Series 2022-1A(TSFR3M+194bps), 8/16/33(a)		1,899,555
	1,200,000	Octagon Investment Partners XVII, Ltd., Class A2R2, Series 2013-1A, 2.28%(US0003M+110bps), 1/25/31, Callable 7/25/22 @ 100(a)		1,162,407


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	2,748,228	One Lincoln Street Commercial Mortgage, Class A1, Series 2004-C3, 5.72%, 10/15/30(a)(b)	$	2,796,982
	1,510,000	One New York Plaza Trust, Class A, Series 2020-1NYP, 2.27%(US0001M+95bps), 1/15/26(a)		1,465,832
	2,388,664	PRKCM Trust, Class A1, Series 2021-AFC2, 2.07%, 11/25/56, Callable 8/25/42 @ 100(a)(b)		2,096,639
	1,250,000	RR 3, Ltd., Class A1R2, Series 2018-3A, 2.13%(US0003M+109bps), 1/15/30, Callable 7/15/22 @ 100(a)		1,230,341
	1,610,672	Seasoned Credit Risk Transfer Trust, Class MA, Series 2019-2, 3.50%, 8/25/58, Callable 1/25/48 @ 100		1,593,264
	652,876	Seasoned Credit Risk Transfer Trust, Class MA, Series 2018-2, 3.50%, 11/25/57, Callable 2/25/35 @ 100		640,765
	125,000	SG Commercial Mortgage Securities Trust, Class A4, Series 2016-C5, 3.06%, 10/10/48, Callable 6/10/26 @ 100		119,192
	1,000,000	Signal Peak CLO 8, Ltd., Class A, Series 2020-8A, 2.33%(US0003M+127bps), 4/20/33, Callable 7/20/22 @ 100(a)		974,091
	2,300,000	Taubman Centers Commercial Mortgage Trust, Class A, Series 2022-DPM, 3.46%(TSFR1M+219bps), 5/15/37(a)		2,190,836
	388,839	Tharaldson Hotel Portfolio Trust, Class A, Series 2018-THL, 2.17%(US0001M+75bps), 11/11/34(a)		381,637
	2,921,900	Verus Securitization Trust, Class A1, Series 2022-3, 4.13%, 2/25/67, Callable 3/25/25 @ 100(a)		2,867,718
	1,000,000	Voya CLO, Ltd., Class A1R, Series 2017-3A, 2.10%(US0003M+104bps), 4/20/34, Callable 4/20/23 @ 100(a)		961,629
	1,250,000	Wells Fargo Commercial Mortgage Trust, Class AS, Series 2015-NXS1, 3.41%, 5/15/48, Callable 4/15/25 @ 100		1,227,225
	775,000	Wells Fargo Commercial Mortgage Trust, Class A4, Series 2015-C28, 3.54%, 5/15/48, Callable 4/15/25 @ 100		760,988
	1,015,000	Wells Fargo Commercial Mortgage Trust, Class A4, Series 2015-NXS4, 3.72%, 12/15/48		999,694
	940,000	Wells Fargo Commercial Mortgage Trust, Class A4, Series 2018-C46, 4.15%, 8/15/51, Callable 8/15/28 @ 100		930,703
	8,864,614	Wells Fargo Commercial Mortgage Trust, Class XA, Series 2016-LC25, 0.98%, 12/15/59, Callable 8/15/26 @ 100(b)		259,467
	1,500,000	Whitebox CLO III, Ltd., Class A1, Series 2021-3A, 2.26%(US0003M+122bps), 10/15/34, Callable 10/15/23 @ 100(a)		1,454,145

	Total Collateralized Mortgage Obligations (Cost $169,934,782)			161,847,193

Corporate Bonds (26.5%):
Aerospace & Defense (1.2%):
	2,642,000	BAE Systems Holdings, Inc., 3.80%, 10/7/24(a)		2,609,461
	647,000	BAE Systems Holdings, Inc., 3.85%, 12/15/25, Callable 9/15/25 @ 100(a)		636,134
	216,000	Boeing Co. (The), 5.93%, 5/1/60, Callable 11/1/59 @ 100		201,458
	1,062,000	General Dynamics Corp., 3.50%, 4/1/27, Callable 2/1/27 @ 100		1,041,948


Principal Amount			Value
Corporate Bonds, continued
Aerospace & Defense, continued
$	1,020,000	General Dynamics Corp., 3.75%, 5/15/28, Callable 2/15/28 @ 100	$	1,003,379
	1,249,000	Harris Corp., 4.40%, 6/15/28, Callable 3/15/28 @ 100		1,231,278
	378,000	Huntington Ingalls Industries, Inc., 3.84%, 5/1/25, Callable 4/1/25 @ 100		373,114
	981,000	Huntington Ingalls Industries, Inc., 3.48%, 12/1/27, Callable 9/1/27 @ 100		912,330
	1,518,000	Huntington Ingalls Industries, Inc., 2.04%, 8/16/28, Callable 6/16/28 @ 100		1,314,022
	1,315,000	L3Harris Technologies, Inc., 3.85%, 12/15/26, Callable 9/15/26 @ 100		1,292,074
	1,383,000	L3Harris Technologies, Inc., 4.40%, 6/15/28, Callable 3/15/28 @ 100		1,356,911
	305,000	Lockheed Martin Corp., 3.90%, 6/15/32, Callable 3/15/32 @ 100		301,754
	391,000	Lockheed Martin Corp., Series B, 6.15%, 9/1/36		450,090
	1,051,000	Lockheed Martin Corp., 3.80%, 3/1/45, Callable 9/1/44 @ 100		925,625
	1,000,000	Lockheed Martin Corp., 4.09%, 9/15/52, Callable 3/15/52 @ 100		933,827
	2,256,000	Northrop Grumman Corp., 2.93%, 1/15/25, Callable 11/15/24 @ 100		2,206,318
	214,000	Northrop Grumman Corp., 4.75%, 6/1/43		207,168
	217,000	Northrop Grumman Corp., 3.85%, 4/15/45, Callable 10/15/44 @ 100		184,485
	1,655,000	Northrop Grumman Corp., 4.03%, 10/15/47, Callable 4/15/47 @ 100		1,478,776
	115,000	Raytheon Technologies Corp., 7.00%, 11/1/28		130,376
	2,427,000	Raytheon Technologies Corp., 4.13%, 11/16/28, Callable 8/16/28 @ 100		2,402,198
	563,000	Raytheon Technologies Corp., 2.38%, 3/15/32, Callable 12/15/31 @ 100		477,374
	168,000	Raytheon Technologies Corp., 4.50%, 6/1/42		160,993
	415,000	Raytheon Technologies Corp., 4.20%, 12/15/44, Callable 6/15/44 @ 100		369,839
	709,000	Raytheon Technologies Corp., 4.35%, 4/15/47, Callable 10/15/46 @ 100		663,003
	1,426,000	Raytheon Technologies Corp., 4.63%, 11/16/48, Callable 5/16/48 @ 100		1,401,113
	405,000	Raytheon Technologies Corp., 2.82%, 9/1/51, Callable 3/1/51 @ 100		290,783
	875,000	Raytheon Technologies Corp., 3.03%, 3/15/52, Callable 9/15/51 @ 100		654,889
	264,000	Textron, Inc., 3.65%, 3/15/27, Callable 12/15/26 @ 100		257,726
	1,098,000	Textron, Inc., 3.90%, 9/17/29, Callable 6/17/29 @ 100		1,034,250

				26,502,696

Air Freight & Logistics (0.1%):
	620,000	FedEx Corp., 0.45%, 5/4/29, Callable 2/4/29 @ 100		540,764
	695,000	United Parcel Service, Inc., 0.38%, 11/15/23, Callable 8/15/23 @ 100		717,371

				1,258,135

Airlines (0.3%):
	844,281	American Airlines Pass Through Trust, Series 2015-2, Class B, 4.40%, 3/22/25		810,985
	307,847	American Airlines Pass Through Trust, Series 2016-1, Class B, 5.25%, 7/15/25		288,221


Principal Amount			Value
Corporate Bonds, continued
Airlines, continued
$	68,972	American Airlines Pass Through Trust, Series 2017-1, Class B, 4.95%, 8/15/26	$	63,110
	474,567	American Airlines Pass Through Trust, Series 2015-2, Class AA, 3.60%, 3/22/29		435,143
	201,082	American Airlines Pass Through Trust, Series 2016-2, Class AA, 3.20%, 12/15/29		182,619
	398,038	American Airlines Pass Through Trust, Series 2016-3, Class AA, 3.00%, 4/15/30		356,670
	164,378	American Airlines Pass Through Trust, Series 2017-1, Class AA, 3.65%, 8/15/30		151,074
	655,306	American Airlines Pass Through Trust, Series 2019-1, 3.15%, 8/15/33		584,977
	420,000	Delta Airlines Pass Through Trust, Series 2019-1, Class AA, 3.20%, 10/25/25		407,069
	122,000	Southwest Airlines Co., 2.75%, 11/16/22, Callable 10/16/22 @ 100		121,605
	40,366	United Airlines Pass Through Trust, Series 2014-2, Class B, 4.63%, 3/3/24		40,249
	6,146	United Airlines Pass Through Trust, Series 2016-2, Class B, 3.65%, 4/7/27		5,685
	251,764	United Airlines Pass Through Trust, Series 2018-1, Class B, 4.60%, 9/1/27		238,919
	1,100,894	United Airlines Pass Through Trust, Series 2020-1, Class A, 5.88%, 4/15/29		1,078,876
	10,648	United Airlines Pass Through Trust, Series 2015-1, Class AA, 3.45%, 6/1/29		9,841
	358,229	United Airlines Pass Through Trust, Series 2019-2, Class B, 3.50%, 11/1/29		317,563
	44,228	United Airlines Pass Through Trust, Series 2016-2, Class AA, 3.10%, 1/7/30		40,406
	171,477	United Airlines Pass Through Trust, Series 2019-2, Class AA, 2.88%, 4/7/30		153,581
	208,474	United Airlines Pass Through Trust, Series 2018-1, Class AA, 3.50%, 9/1/31		187,748
	334,459	United Airlines Pass Through Trust, Series 2016-1, Class AA, 4.15%, 2/25/33		313,799
	459,576	United Airlines Pass Through Trust, Series 2019-2, Class AA, 2.70%, 11/1/33		390,433

				6,178,573

Banks (5.1%):
	3,470,000	Bank of America Corp., 3.00% (US0003M+79 bps), 12/20/23, Callable 12/20/22 @ 100		3,458,830
	4,437,000	Bank of America Corp., 3.55% (US0003M+78 bps), 3/5/24, Callable 3/5/23 @ 100		4,429,360
	504,000	Bank of America Corp., 0.98% (SOFR+69 bps), 4/22/25, Callable 4/22/24 @ 100		474,403
	1,683,000	Bank of America Corp., 3.37% (US0003M+81 bps), 1/23/26, Callable 1/23/25 @ 100		1,635,127
	597,000	Bank of America Corp., 2.02% (US0003M+64 bps), 2/13/26, Callable 2/13/25 @ 100, MTN		561,989
	2,921,000	Bank of America Corp., 3.38% (SOFR+133 bps), 4/2/26, Callable 4/2/25 @ 100, MTN		2,835,181
	6,244,000	Bank of America Corp., 1.32% (SOFR+115 bps), 6/19/26, Callable 6/19/25 @ 100, MTN		5,670,707
	6,920,000	Bank of America Corp., 1.20% (SOFR+101 bps), 10/24/26, Callable 10/24/25 @ 100, MTN		6,205,199
	6,098,000	Bank of America Corp., 3.56% (US0003M+106 bps), 4/23/27, Callable 4/23/26 @ 100, MTN		5,848,494


Principal Amount			Value
Corporate Bonds, continued
Banks, continued
$	1,447,000	Bank of America Corp., 1.73% (SOFR+96 bps), 7/22/27, Callable 7/22/26 @ 100	$	1,291,390
	2,767,000	Bank of America Corp., 3.82% (US0003M+158 bps), 1/20/28, Callable 1/20/27 @ 100, MTN		2,657,811
	1,925,000	Bank of America Corp., 2.55% (SOFR+105 bps), 2/4/28, Callable 2/4/27 @ 100		1,761,161
	3,800,000	Bank of America Corp., 3.42% (US0003M+104 bps), 12/20/28, Callable 12/20/27 @ 100		3,545,487
	821,000	Bank of America Corp., 3.97% (US0003M+107 bps), 3/5/29, Callable 3/5/28 @ 100, MTN		784,192
	1,535,000	Bank of America Corp., 4.27% (US0003M+131 bps), 7/23/29, Callable 7/23/28 @ 100		1,480,891
	735,000	Bank of America Corp., 3.97% (US0003M+121 bps), 2/7/30, Callable 2/7/29 @ 100, MTN		699,977
	1,510,000	Bank of America Corp., 3.19% (US0003M+118 bps), 7/23/30, Callable 7/23/29 @ 100, MTN		1,358,595
	6,772,000	Bank of America Corp., 2.88% (US0003M+119 bps), 10/22/30, Callable 10/22/29 @ 100, MTN		5,931,175
	472,000	Bank of America Corp., 2.50% (US0003M+99 bps), 2/13/31, Callable 2/13/30 @ 100, MTN		400,519
	793,000	Bank of America Corp., 2.59% (SOFR+215 bps), 4/29/31, Callable 4/29/30 @ 100		676,810
	295,000	Bank of America Corp., 1.90% (SOFR+153 bps), 7/23/31, Callable 7/23/30 @ 100, MTN		237,371
	860,000	Bank of America Corp., 1.92% (SOFR+137 bps), 10/24/31, Callable 10/24/30 @ 100, MTN		687,979
	665,000	Bank of America Corp., 2.57% (SOFR+121 bps), 10/20/32, Callable 10/20/31 @ 100		549,253
	2,372,000	Bank of America Corp., 2.97% (SOFR+133 bps), 2/4/33, Callable 2/4/32 @ 100		2,020,574
	3,200,000	Bank of America Corp., 4.57% (SOFR+183 bps), 4/27/33, Callable 4/27/32 @ 100		3,113,488
	905,000	Bank of America Corp., 5.87% (US0003M+293 bps), 12/31/99, Callable 3/15/28 @ 100		794,138
	345,000	Citigroup, Inc., 0.78% (SOFR+69 bps), 10/30/24, Callable 10/30/23 @ 100		328,842
	5,421,000	Citigroup, Inc., 3.29% (SOFR+153 bps), 3/17/26, Callable 3/17/25 @ 100		5,251,404
	7,084,000	Citigroup, Inc., 3.07% (SOFR+128 bps), 2/24/28, Callable 2/24/27 @ 100		6,608,111
	5,943,000	Citigroup, Inc., 3.98% (US0003M+134 bps), 3/20/30, Callable 3/20/29 @ 100		5,602,549
	4,621,000	Citigroup, Inc., 2.98% (SOFR+142 bps), 11/5/30, Callable 11/5/29 @ 100		4,050,242
	479,000	Citigroup, Inc., 2.57% (SOFR+211 bps), 6/3/31, Callable 6/3/30 @ 100		402,316
	405,000	Citigroup, Inc., 3.06% (SOFR+135 bps), 1/25/33, Callable 1/25/32 @ 100		343,961
	380,000	Citigroup, Inc., 4.91% (SOFR+209 bps), 5/24/33, Callable 5/24/32 @ 100		375,073
	329,000	Citigroup, Inc., 4.00% (H15T5Y+4 bps), 12/31/99, Callable 12/10/25 @ 100		284,585
	491,000	JPMorgan Chase & Co., 0.70% (SOFR+58 bps), 3/16/24, Callable 3/16/23 @ 100		479,987
	1,800,000	JPMorgan Chase & Co., 3.56% (US0003M+73 bps), 4/23/24, Callable 4/23/23 @ 100		1,795,502
	210,000	JPMorgan Chase & Co., 4.02% (US0003M+100 bps), 12/5/24, Callable 12/5/23 @ 100		209,404
	1,636,000	JPMorgan Chase & Co., 3.85% (SOFR+98 bps), 6/14/25, Callable 6/14/24 @ 100		1,621,556


Principal Amount			Value
Corporate Bonds, continued
Banks, continued
$	182,000	JPMorgan Chase & Co., 2.30% (SOFR+116 bps), 10/15/25, Callable 10/15/24 @ 100	$	174,089
	1,385,000	JPMorgan Chase & Co., 2.01% (SOFR+159 bps), 3/13/26, Callable 3/13/25 @ 100		1,295,924
	3,755,000	JPMorgan Chase & Co., 4.08% (SOFR+132 bps), 4/26/26, Callable 4/26/25 @ 100		3,719,992
	2,000	JPMorgan Chase & Co., 3.20%, 6/15/26, Callable 3/15/26 @ 100		1,941
	2,230,000	JPMorgan Chase & Co., 3.96% (US0003M+125 bps), 1/29/27, Callable 1/29/26 @ 100		2,186,234
	2,897,000	JPMorgan Chase & Co., 1.58% (SOFR+89 bps), 4/22/27, Callable 4/22/26 @ 100		2,585,807
	4,797,000	JPMorgan Chase & Co., 3.78% (US0003M+134 bps), 2/1/28, Callable 2/1/27 @ 100		4,614,695
	3,168,000	JPMorgan Chase & Co., 2.95% (SOFR+117 bps), 2/24/28, Callable 2/24/27 @ 100		2,945,689
	1,750,000	JPMorgan Chase & Co., 4.00% (US0003M+112 bps), 4/23/29, Callable 4/23/28 @ 100		1,681,006
	1,318,000	JPMorgan Chase & Co., 3.70% (US0003M+116 bps), 5/6/30, Callable 5/6/29 @ 100		1,239,493
	977,000	JPMorgan Chase & Co., 2.74% (SOFR+151 bps), 10/15/30, Callable 10/15/29 @ 100		852,922
	2,090,000	JPMorgan Chase & Co., 2.96% (SOFR+126 bps), 1/25/33, Callable 1/25/32 @ 100		1,793,922
	861,000	JPMorgan Chase & Co., 4.26% (US0003M+158 bps), 2/22/48, Callable 2/22/47 @ 100		779,035
	138,000	JPMorgan Chase & Co., 3.90% (US0003M+122 bps), 1/23/49, Callable 1/23/48 @ 100		116,364
	105,000	Synovus Financial Corp., 3.13%, 11/1/22, Callable 10/1/22 @ 100		104,848
	1,400,000	Wells Fargo & Co., 2.16% (US0003M+75 bps), 2/11/26, Callable 2/11/25 @ 100, MTN		1,317,994
	1,694,000	Wells Fargo & Co., 3.91% (SOFRRATE+132 bps), 4/25/26, Callable 4/25/25 @ 100		1,668,507
	819,000	Wells Fargo & Co., 3.53% (SOFR+151 bps), 3/24/28, Callable 3/24/27 @ 100		777,053
	1,494,000	Wells Fargo & Co., 3.58% (US0003M+131 bps), 5/22/28, Callable 5/22/27 @ 100, MTN		1,419,925
	655,000	Wells Fargo & Co., 4.61% (SOFR+213 bps), 4/25/53, Callable 4/25/52 @ 100		609,502

				116,348,575

Beverages (0.3%):
	7,123,000	Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.70%, 2/1/36, Callable 8/1/35 @ 100		6,890,320
	108,000	Anheuser-Busch InBev Worldwide, Inc., 4.60%, 4/15/48, Callable 10/15/47 @ 100		97,567

				6,987,887

Biotechnology (0.4%):
	2,680,000	AbbVie, Inc., 4.55%, 3/15/35, Callable 9/15/34 @ 100		2,643,230
	1,789,000	AbbVie, Inc., 4.50%, 5/14/35, Callable 11/14/34 @ 100		1,740,727
	864,000	AbbVie, Inc., 4.63%, 10/1/42, Callable 4/1/42 @ 100		806,078
	527,000	Amgen, Inc., 4.40%, 5/1/45, Callable 11/1/44 @ 100		479,122


Principal Amount			Value
Corporate Bonds, continued
Biotechnology, continued
$	612,000	Amgen, Inc., 4.56%, 6/15/48, Callable 12/15/47 @ 100	$	576,477
	209,000	Amgen, Inc., 4.20%, 2/22/52, Callable 8/22/51 @ 100		184,040
	1,013,000	Biogen, Inc., 3.15%, 5/1/50, Callable 11/1/49 @ 100		698,486
	1,178,000	Gilead Sciences, Inc., 4.80%, 4/1/44, Callable 10/1/43 @ 100		1,138,546
	464,000	Gilead Sciences, Inc., 4.75%, 3/1/46, Callable 9/1/45 @ 100		447,805

				8,714,511

Capital Markets (3.2%):
	2,221,000	Ares Capital Corp., 4.25%, 3/1/25, Callable 1/1/25 @ 100		2,125,857
	1,042,000	Ares Capital Corp., 3.88%, 1/15/26, Callable 12/15/25 @ 100		961,249
	704,000	Ares Capital Corp., 2.15%, 7/15/26, Callable 6/15/26 @ 100		594,312
	370,000	Bank of New York Mellon Corp. (The), 4.62% (US0003M+313 bps), 12/29/49, Callable 9/20/26 @ 100		321,900
	1,150,000	Bank of New York Mellon Corp. (The), 3.70% (H15T5Y+335 bps), 12/31/99, Callable 3/20/26 @ 100		1,019,187
	1,578,000	Blackstone Private Credit Fund, 3.25%, 3/15/27, Callable 2/15/27 @ 100(a)		1,339,968
	1,152,000	Blackstone Private Credit Fund, 4.00%, 1/15/29, Callable 11/15/28 @ 100(a)		944,543
	1,435,000	Charles Schwab Corp. (The), Series E, 4.90% (US0003M+332 bps), 12/29/49, Callable 9/1/22 @ 100^		1,352,487
	3,115,000	Charles Schwab Corp. (The), 4.00% (H15T5Y+317 bps), 12/31/99, Callable 6/1/26 @ 100		2,643,856
	1,291,000	FactSet Research Systems, 3.45%, 3/1/32, Callable 12/1/31 @ 100		1,142,769
	4,130,000	Goldman Sachs Group, Inc., 3.62% (SOFR+185 bps), 3/15/28, Callable 3/15/27 @ 100		3,913,340
	5,247,000	Goldman Sachs Group, Inc. (The), 3.50%, 4/1/25, Callable 3/1/25 @ 100		5,155,844
	908,000	Goldman Sachs Group, Inc. (The), 3.75%, 5/22/25, Callable 2/22/25 @ 100		897,572
	730,000	Goldman Sachs Group, Inc. (The), 0.86% (SOFR+61 bps), 2/12/26, Callable 2/12/25 @ 100		665,760
	1,234,000	Goldman Sachs Group, Inc. (The), 2.58% (US0003M+117 bps), 5/15/26, Callable 5/15/25 @ 100		1,206,862
	4,503,000	Goldman Sachs Group, Inc. (The), 3.10% (SOFR+141 bps), 2/24/33, Callable 2/24/32 @ 100		3,842,099
	1,580,000	Goldman Sachs Group, Inc. The, 0.66% (SOFR+51 bps), 9/10/24, Callable 9/10/23 @ 100		1,514,670
	8,912,000	Goldman Sachs Group, Inc. The, 2.64% (SOFR+111 bps), 2/24/28, Callable 2/24/27 @ 100		8,131,915
	331,000	Goldman Sachs Group, Inc. The, 2.62% (SOFR+128 bps), 4/22/32, Callable 4/22/31 @ 100		275,060
	992,000	Intercontinental Exchange, Inc., 2.10%, 6/15/30, Callable 3/15/30 @ 100		831,413
	205,000	Moody S Corp., 3.75%, 2/25/52, Callable 8/25/51 @ 100		168,528


Principal Amount			Value
Corporate Bonds, continued
Capital Markets, continued
$	683,000	Moody’s Corp., 3.10%, 11/29/61, Callable 5/29/61 @ 100	$	475,367
	2,065,000	Morgan Stanley, 0.53% (SOFR+46 bps), 1/25/24, Callable 1/25/23 @ 100		2,024,958
	520,000	Morgan Stanley, 0.73% (SOFR+62 bps), 4/5/24, Callable 4/5/23 @ 100		507,356
	1,970,000	Morgan Stanley, 3.62% (SOFRRATE+116 bps), 4/17/25, Callable 4/17/24 @ 100		1,945,351
	3,423,000	Morgan Stanley, 3.63%, 1/20/27		3,326,677
	9,921,000	Morgan Stanley, 1.59% (SOFR+88 bps), 5/4/27, Callable 5/4/26 @ 100		8,818,698
	785,000	Morgan Stanley, 4.21% (SOFR+161 bps), 4/20/28, Callable 4/20/27 @ 100		769,178
	3,876,000	Morgan Stanley, 3.59% (US0003M+134 bps), 7/22/28, Callable 7/22/27 @ 100		3,677,622
	1,102,000	Morgan Stanley, 3.77% (US0003M+114 bps), 1/24/29, Callable 1/24/28 @ 100		1,048,979
	1,564,000	Morgan Stanley, Series G, 4.43% (US0003M+163 bps), 1/23/30, Callable 1/23/29 @ 100, MTN		1,525,801
	6,959,000	Morgan Stanley, 2.70% (SOFR+114 bps), 1/22/31, Callable 1/22/30 @ 100, MTN		6,030,516
	884,000	Morgan Stanley, 1.79% (SOFR+1 bps), 2/13/32, Callable 2/13/31 @ 100, MTN		698,545
	210,000	Morgan Stanley, 1.93% (SOFR+102 bps), 4/28/32, Callable 4/28/31 @ 100, MTN		166,722
	278,000	Morgan Stanley, 2.24% (SOFR+118 bps), 7/21/32, Callable 7/21/31 @ 100, MTN		225,556
	278,000	Morgan Stanley, 2.51% (SOFR+120 bps), 10/20/32, Callable 10/20/31 @ 100, MTN		230,427
	806,000	Morgan Stanley, 2.94% (SOFR+129 bps), 1/21/33, Callable 1/21/32 @ 100		689,891
	162,000	S P Global, Inc., 3.90%, 3/1/62, Callable 9/1/61 @ 100(a)		139,120
	196,000	State Street Corp., 2.90% (SOFR+3 bps), 3/30/26, Callable 3/30/25 @ 100		189,904
	661,000	State Street Corp., Series F, 5.43% (US0003M+360 bps), Callable 9/15/22 @ 100		644,475
	1,415,000	State Street Corp., Series H, 5.62% (US0003M+254 bps), 12/31/99, Callable 12/15/23 @ 100^		1,278,806

				73,463,140

Chemicals (0.3%):
	570,000	Air Products and Chemicals, Inc., 2.80%, 5/15/50, Callable 11/15/49 @ 100		428,587
	565,000	Dow Chemical Co. (The), 5.55%, 11/30/48, Callable 5/30/48 @ 100		574,155
	3,116,000	DowDuPont, Inc., 4.49%, 11/15/25, Callable 9/15/25 @ 100		3,131,116
	525,000	Ecolab, Inc., 2.75%, 8/18/55, Callable 2/18/55 @ 100		371,240
	663,000	LYB International Finance III LLC, 4.20%, 5/1/50, Callable 11/1/49 @ 100		539,895
	353,000	Sherwin-Williams Co. (The), 4.50%, 6/1/47, Callable 12/1/46 @ 100		312,019
	493,000	Westlake Chemical Corp., 3.38%, 8/15/61, Callable 2/15/61 @ 100		334,832

				5,691,844


Principal Amount			Value
Corporate Bonds, continued
Commercial Services & Supplies (0.0%^†):
$	640,000	Republic Services, Inc., 2.38%, 3/15/33, Callable 12/15/32 @ 100	$	523,992
	107,000	Waste Management, Inc., 2.95%, 6/1/41, Callable 12/1/40 @ 100		83,926

				607,918

Communications Equipment (0.3%):
	1,085,000	Motorola Solutions, Inc., 4.60%, 2/23/28, Callable 11/23/27 @ 100		1,062,591
	1,662,000	Motorola Solutions, Inc., 4.60%, 5/23/29, Callable 2/23/29 @ 100		1,595,651
	756,000	Motorola Solutions, Inc., 2.30%, 11/15/30, Callable 8/15/30 @ 100		593,218
	1,822,000	Motorola Solutions, Inc., 2.75%, 5/24/31, Callable 2/24/31 @ 100		1,482,068
	1,115,000	Motorola Solutions, Inc., 5.60%, 6/1/32, Callable 3/1/32 @ 100		1,124,619
	27,000	Motorola Solutions, Inc., 5.50%, 9/1/44		25,607

				5,883,754

Consumer Finance (0.4%):
	469,000	American Express Co., 2.55%, 3/4/27, Callable 2/1/27 @ 100		437,012
	740,000	American Honda Finance Corp., 1.38%, 11/10/22		777,613
	1,731,000	Capital One Financial Corp., 3.27% (SOFR+179 bps), 3/1/30, Callable 3/1/29 @ 100		1,532,480
	732,000	Capital One Financial Corp., 5.27% (SOFR+237 bps), 5/10/33, Callable 5/10/32 @ 100		719,035
	2,321,000	General Motors Financial Co., Inc., 4.35%, 4/9/25, Callable 2/9/25 @ 100		2,294,887
	1,317,000	General Motors Financial Co., Inc., 3.10%, 1/12/32, Callable 10/12/31 @ 100		1,061,245
	2,065,000	Hyundai Capital America, 2.38%, 2/10/23(a)		2,039,049
	343,000	Toyota Motor Credit Corp., 0.80%, 1/9/26, MTN		310,356

				9,171,677

Containers & Packaging (0.1%):
	1,876,000	Amcor Flexibles North America, Inc., 2.69%, 5/25/31, Callable 2/25/31 @ 100		1,535,540
	349,000	International Paper Co., 4.80%, 6/15/44, Callable 12/15/43 @ 100		330,416

				1,865,956

Diversified Consumer Services (0.0%^†):
	145,000	California Institute of Technology, 4.32%, 8/1/45		142,952
	360,000	Massachusetts Institute of Technology, 4.68%, 7/1/14		362,735

				505,687

Diversified Financial Services (0.2%):
	305,000	Berkshire Hathaway Finance Corp., 3.85%, 3/15/52, Callable 9/15/51 @ 100		263,238
	3,284,000	Glencore Funding LLC, 1.63%, 4/27/26, Callable 3/27/26 @ 100(a)		2,908,192
	1,032,000	Glencore Funding LLC, 2.50%, 9/1/30, Callable 6/1/30 @ 100^(a)		841,658
	536,000	Glencore Funding LLC, 2.85%, 4/27/31, Callable 1/27/31 @ 100(a)		443,539
	654,000	Glencore Funding LLC, 2.63%, 9/23/31, Callable 6/23/31 @ 100(a)		527,538


Principal Amount			Value
Corporate Bonds, continued
Diversified Financial Services, continued
$	331,000	Glencore Funding LLC, 3.38%, 9/23/51, Callable 3/23/51 @ 100(a)	$	227,323

				5,211,488

Diversified Telecommunication Services (1.6%):
	2,000,000	AT&T, Inc., 3.43%, 11/27/22(a)(c)		1,971,834
	425,000	AT&T, Inc., 2.30%, 6/1/27, Callable 4/1/27 @ 100		387,713
	435,000	AT&T, Inc., 1.65%, 2/1/28, Callable 12/1/27 @ 100		376,987
	375,000	AT&T, Inc., 4.10%, 2/15/28, Callable 11/15/27 @ 100		365,760
	1,173,000	AT&T, Inc., 4.35%, 3/1/29, Callable 12/1/28 @ 100		1,161,215
	2,753,000	AT&T, Inc., 4.30%, 2/15/30, Callable 11/15/29 @ 100		2,681,639
	2,600,000	AT&T, Inc., 2.55%, 12/1/33, Callable 9/1/33 @ 100		2,107,534
	935,000	AT&T, Inc., 4.50%, 5/15/35, Callable 11/15/34 @ 100		888,356
	490,000	AT&T, Inc., 2.60%, 5/19/38, Callable 11/19/37 @ 100		435,038
	406,000	AT&T, Inc., 4.35%, 6/15/45, Callable 12/15/44 @ 100		355,123
	1,116,000	AT&T, Inc., 4.75%, 5/15/46, Callable 11/15/45 @ 100		1,038,130
	602,000	AT&T, Inc., 4.50%, 3/9/48, Callable 9/9/47 @ 100		534,814
	786,000	AT&T, Inc., 3.80%, 12/1/57, Callable 6/1/57 @ 100		611,640
	859,000	AT&T, Inc., 3.65%, 9/15/59, Callable 3/15/59 @ 100		648,545
	190,000	AT&T, Inc., 3.85%, 6/1/60, Callable 12/1/59 @ 100		147,914
	289,000	Verizon Communications, Inc., 4.13%, 3/16/27		286,927
	3,288,000	Verizon Communications, Inc., 2.10%, 3/22/28, Callable 1/22/28 @ 100		2,910,643
	807,000	Verizon Communications, Inc., 4.33%, 9/21/28		802,595
	3,102,000	Verizon Communications, Inc., 4.02%, 12/3/29, Callable 9/3/29 @ 100		3,011,515
	5,577,000	Verizon Communications, Inc., 3.15%, 3/22/30, Callable 12/22/29 @ 100		5,084,997
	466,000	Verizon Communications, Inc., 1.50%, 9/18/30, Callable 6/18/30 @ 100		373,104
	1,836,000	Verizon Communications, Inc., 1.68%, 10/30/30, Callable 7/30/30 @ 100		1,473,928
	2,604,000	Verizon Communications, Inc., 2.55%, 3/21/31, Callable 12/21/30 @ 100		2,233,305
	1,318,000	Verizon Communications, Inc., 2.36%, 3/15/32, Callable 12/15/31 @ 100		1,091,586
	700,000	Verizon Communications, Inc., 2.88%, 1/15/38		663,100
	3,139,000	Verizon Communications, Inc., 2.65%, 11/20/40, Callable 5/20/40 @ 100		2,302,472
	760,000	Verizon Communications, Inc., 2.88%, 11/20/50, Callable 5/20/50 @ 100		541,758
	1,224,000	Verizon Communications, Inc., 3.00%, 11/20/60, Callable 5/20/60 @ 100		835,741

				35,323,913

Electric Utilities (2.0%):
	430,000	AEP Texas, Inc., 2.40%, 10/1/22		430,408
	527,000	AEP Texas, Inc., Series H, 3.45%, 1/15/50, Callable 7/15/49 @ 100		407,334
	1,185,000	AEP Texas, Inc., 3.45%, 5/15/51, Callable 11/15/50 @ 100		931,438
	221,000	AEP Transmission Co. LLC, 3.75%, 12/1/47, Callable 6/1/47 @ 100		193,251


Principal Amount			Value
Corporate Bonds, continued
Electric Utilities, continued
$	565,000	AEP Transmission Co. LLC, 3.15%, 9/15/49, Callable 3/15/49 @ 100	$	429,106
	780,000	AEP Transmission Co. LLC, 2.75%, 8/15/51, Callable 2/15/51 @ 100		549,538
	1,044,000	Alabama Power Co., 3.45%, 10/1/49, Callable 4/1/49 @ 100		828,001
	819,000	American Transmission Systems, Inc., 2.65%, 1/15/32, Callable 10/15/31 @ 100(a)		695,772
	612,000	Baltimore Gas & Electric Co., 3.50%, 8/15/46, Callable 2/15/46 @ 100		501,158
	1,216,000	Baltimore Gas & Electric Co., 3.75%, 8/15/47, Callable 2/15/47 @ 100		1,044,756
	335,000	Baltimore Gas & Electric Co., 3.20%, 9/15/49, Callable 3/15/49 @ 100		258,683
	750,000	Commonwealth Edison Co., 3.13%, 3/15/51, Callable 9/15/50 @ 100		581,464
	119,000	DTE Electric Co., Series A, 4.05%, 5/15/48, Callable 11/15/47 @ 100		109,812
	1,088,000	DTE Electric Co., 3.95%, 3/1/49, Callable 9/1/48 @ 100		986,190
	65,000	DTE Electric Co., 3.65%, 3/1/52, Callable 9/1/51 @ 100		56,714
	118,000	Duke Energy Carolinas LLC, 3.75%, 6/1/45, Callable 12/1/44 @ 100		99,597
	718,000	Duke Energy Carolinas LLC, 3.88%, 3/15/46, Callable 9/15/45 @ 100		633,646
	259,000	Duke Energy Carolinas LLC, 3.45%, 4/15/51, Callable 10/15/50 @ 100		213,087
	2,718,000	Duke Energy Florida LLC, 2.50%, 12/1/29, Callable 9/1/29 @ 100		2,428,329
	955,000	Duke Energy Florida LLC, 1.75%, 6/15/30, Callable 3/15/30 @ 100		794,442
	397,000	Duke Energy Florida LLC, 3.40%, 10/1/46, Callable 4/1/46 @ 100		314,372
	391,000	Duke Energy Florida LLC, 3.00%, 12/15/51, Callable 6/15/51 @ 100		294,135
	555,000	Duke Energy Ohio, Inc., 3.65%, 2/1/29, Callable 11/1/28 @ 100		531,011
	95,000	Duke Energy Progress LLC, 3.45%, 3/15/29, Callable 12/15/28 @ 100		90,250
	337,000	Duke Energy Progress LLC, 4.20%, 8/15/45, Callable 2/15/45 @ 100		304,748
	315,000	Duke Energy Progress LLC, 2.90%, 8/15/51, Callable 2/15/51 @ 100		233,996
	220,000	Duke Energy Progress, Inc., 5.70%, 4/1/35		234,919
	471,000	Duke Energy Progress, Inc., 4.10%, 5/15/42, Callable 11/15/41 @ 100		425,755
	719,000	Duke Energy Progress, Inc., 4.10%, 3/15/43, Callable 9/15/42 @ 100		646,490
	2,153,000	Edison International, 2.40%, 9/15/22, Callable 8/15/22 @ 100		2,150,412
	258,000	Edison International, 4.95%, 4/15/25, Callable 3/15/25 @ 100		258,708
	258,000	Entergy Arkansas LLC, 3.35%, 6/15/52, Callable 12/15/51 @ 100		205,059
	754,000	Entergy Louisiana LLC, 1.60%, 12/15/30, Callable 9/15/30 @ 100		604,375
	386,000	Entergy Louisiana LLC, 2.35%, 6/15/32, Callable 3/15/32 @ 100		323,259


Principal Amount			Value
Corporate Bonds, continued
Electric Utilities, continued
$	511,000	Entergy Louisiana LLC, 2.90%, 3/15/51, Callable 9/15/50 @ 100	$	370,597
	180,000	Exelon Corp., 2.75%, 3/15/27, Callable 2/15/27 @ 100(a)		168,739
	382,000	Exelon Corp., 5.63%, 6/15/35		393,209
	898,000	Exelon Corp., 4.70%, 4/15/50, Callable 10/15/49 @ 100		840,340
	136,000	Exelon Corp., 4.10%, 3/15/52, Callable 9/15/51 @ 100(a)		117,118
	193,000	FirstEnergy Corp., 2.05%, 3/1/25, Callable 2/1/25 @ 100		177,823
	517,000	FirstEnergy Corp., 2.65%, 3/1/30, Callable 12/1/29 @ 100		429,249
	636,000	FirstEnergy Corp., Series C, 3.40%, 3/1/50, Callable 9/1/49 @ 100		432,086
	505,000	FirstEnergy Transmission LLC, 4.35%, 1/15/25, Callable 10/15/24 @ 100(a)		498,107
	303,000	FirstEnergy Transmission LLC, 5.45%, 7/15/44, Callable 1/15/44 @ 100(a)		279,139
	990,000	FirstEnergy Transmission LLC, 4.55%, 4/1/49, Callable 10/1/48 @ 100(a)		820,226
	817,000	Florida Power & Light Co., 3.70%, 12/1/47, Callable 6/1/47 @ 100		715,603
	783,000	Florida Power & Light Co., 3.95%, 3/1/48, Callable 9/1/47 @ 100		719,810
	449,000	Florida Power & Light Co., 3.99%, 3/1/49, Callable 9/1/48 @ 100		416,119
	1,399,000	Florida Power & Light Co., 3.15%, 10/1/49, Callable 4/1/49 @ 100		1,120,634
	658,000	MidAmerican Energy Co., 3.10%, 5/1/27, Callable 2/1/27 @ 100		632,728
	1,639,000	MidAmerican Energy Co., 3.65%, 4/15/29, Callable 1/15/29 @ 100		1,599,518
	399,000	MidAmerican Energy Co., 3.15%, 4/15/50, Callable 10/15/49 @ 100		314,485
	705,000	Northern States Power Co., 2.90%, 3/1/50, Callable 9/1/49 @ 100		531,914
	1,070,000	Northern States Power Co., 2.60%, 6/1/51, Callable 12/1/50 @ 100		760,508
	174,000	Northern States Power Co., 3.20%, 4/1/52, Callable 10/1/51 @ 100		139,406
	2,318,000	NRG Energy, Inc., 4.45%, 6/15/29, Callable 3/15/29 @ 100(a)		2,086,200
	362,000	Ohio Power Co., 4.00%, 6/1/49, Callable 12/1/48 @ 100		307,885
	716,000	Ohio Power Co., 2.90%, 10/1/51, Callable 4/1/51 @ 100		514,024
	1,406,000	Oncor Electric Delivery Co. LLC, 3.70%, 11/15/28, Callable 8/15/28 @ 100		1,370,701
	10,000	Oncor Electric Delivery Co. LLC, 5.75%, 3/15/29, Callable 12/15/28 @ 100		10,839
	271,000	Oncor Electric Delivery Co. LLC, 3.80%, 9/30/47, Callable 3/30/47 @ 100		239,505
	383,000	Oncor Electric Delivery Co. LLC, 4.10%, 11/15/48, Callable 5/15/48 @ 100		352,686
	97,000	Pacific Gas and Electric Co., 2.50%, 2/1/31, Callable 11/1/30 @ 100		74,560
	501,000	Pacific Gas and Electric Co., 3.25%, 6/1/31, Callable 3/1/31 @ 100		402,962


Principal Amount			Value
Corporate Bonds, continued
Electric Utilities, continued
$	404,000	Pacific Gas and Electric Co., 4.95%, 7/1/50, Callable 1/1/50 @ 100	$	323,275
	614,000	PECO Energy Co., 3.05%, 3/15/51, Callable 9/15/50 @ 100		471,128
	535,000	Public Service Electric & Gas Co., 3.65%, 9/1/28, Callable 6/1/28 @ 100		518,636
	340,000	Public Service Electric & Gas Co., 2.05%, 8/1/50, Callable 2/1/50 @ 100, MTN		211,033
	2,204,000	Southern California Edison Co., Series E, 3.70%, 8/1/25, Callable 6/1/25 @ 100		2,160,039
	869,000	Southwestern Public Service Co., 3.15%, 5/1/50, Callable 11/1/49 @ 100		668,676
	215,000	Tampa Electric Co., 4.20%, 5/15/45, Callable 11/15/44 @ 100		186,713
	3,000	Tampa Electric Co., 4.45%, 6/15/49, Callable 12/15/48 @ 100		2,775
	540,000	Tampa Electric Co., 3.63%, 6/15/50, Callable 12/15/49 @ 100		437,801
	500,000	Virginia Electric & Power Co., 3.45%, 9/1/22, Callable 7/27/22 @ 100		500,195
	381,000	Virginia Electric & Power Co., Series A, 6.00%, 5/15/37		425,447
	451,000	Virginia Electric & Power Co., Series D, 4.65%, 8/15/43, Callable 2/15/43 @ 100		431,726
	715,000	Virginia Electric and Power Co., Series B, 4.20%, 5/15/45, Callable 11/15/44 @ 100		643,044
	2,301,000	Vistra Operations Co. LLC, 4.30%, 7/15/29, Callable 4/15/29 @ 100(a)		2,082,405

				44,689,828

Electronic Equipment, Instruments & Components (0.0%^†):
	198,000	Corning, Inc., 4.38%, 11/15/57, Callable 5/15/57 @ 100		167,313

Entertainment (0.0%^†):
	892,000	Electronic Arts, Inc., 1.85%, 2/15/31, Callable 11/15/30 @ 100		725,124

Equity Real Estate Investment Trusts (1.0%):
	256,000	Alexandria Real Estate Equities, Inc., 2.95%, 3/15/34, Callable 12/15/33 @ 100		213,453
	91,000	American Tower Corp., 2.95%, 1/15/25, Callable 12/15/24 @ 100		87,914
	810,000	American Tower Corp., 0.40%, 2/15/27, Callable 12/15/26 @ 100		730,271
	600,000	American Tower Corp., 3.65%, 3/15/27, Callable 2/15/27 @ 100		570,672
	1,429,000	American Tower Corp., 1.50%, 1/31/28, Callable 11/30/27 @ 100		1,188,934
	1,429,000	American Tower Corp., 3.80%, 8/15/29, Callable 5/15/29 @ 100		1,314,371
	1,738,000	American Tower Corp., 2.10%, 6/15/30, Callable 3/15/30 @ 100		1,391,283
	682,000	American Tower Corp., 2.30%, 9/15/31, Callable 6/15/31 @ 100		541,489
	232,000	Crown Castle International Corp., 3.15%, 7/15/23, Callable 6/15/23 @ 100		229,436
	430,000	Crown Castle International Corp., 3.70%, 6/15/26, Callable 3/15/26 @ 100		415,858
	592,000	Crown Castle International Corp., 2.90%, 3/15/27, Callable 2/15/27 @ 100		547,724


Principal Amount			Value
Corporate Bonds, continued
Equity Real Estate Investment Trusts, continued
$	2,244,000	Crown Castle International Corp., 3.10%, 11/15/29, Callable 8/15/29 @ 100	$	1,989,073
	1,155,000	Crown Castle International Corp., 2.25%, 1/15/31, Callable 10/15/30 @ 100		937,180
	2,744,000	Crown Castle International Corp., 2.50%, 7/15/31, Callable 4/15/31 @ 100		2,263,402
	714,000	Crown Castle International Corp., 5.20%, 2/15/49, Callable 8/15/48 @ 100		687,301
	362,000	Duke Realty LP, 4.00%, 9/15/28, Callable 6/15/28 @ 100		351,372
	1,136,000	Duke Realty LP, 1.75%, 2/1/31, Callable 11/1/30 @ 100		926,230
	2,070,000	Equinix, Inc., 2.00%, 5/15/28, Callable 3/15/28 @ 100		1,781,152
	2,277,000	Equinix, Inc., 3.20%, 11/18/29, Callable 8/18/29 @ 100		2,029,288
	2,264,000	Equinix, Inc., 3.90%, 4/15/32, Callable 1/15/32 @ 100		2,052,773
	329,000	Invitation Homes Operating Partnership LP, 2.30%, 11/15/28, Callable 9/15/28 @ 100		278,700
	593,000	National Retail Properties, Inc., 3.10%, 4/15/50, Callable 10/15/49 @ 100		413,584
	801,000	National Retail Properties, Inc., 3.50%, 4/15/51, Callable 10/15/50 @ 100		606,956
	402,000	National Retail Properties, Inc., 3.00%, 4/15/52, Callable 10/15/51 @ 100		276,244
	611,000	Realty Income Corp., 3.25%, 1/15/31, Callable 10/15/30 @ 100		556,774

				22,381,434

Financial Services (0.0%^†):
	281,000	GE Capital Funding LLC, 4.55%, 5/15/32, Callable 2/15/32 @ 100		271,718

Food Products (0.0%^†):
	420,000	General Mills, Inc., 0.45%, 1/15/26, Callable 10/15/25 @ 100		408,721

Gas Utilities (0.0%^†):
	262,000	Atmos Energy Corp., 4.13%, 10/15/44, Callable 4/15/44 @ 100		232,436
	461,000	Piedmont Natural Gas Co, Inc., 3.50%, 6/1/29, Callable 3/1/29 @ 100		427,934
	500,000	Piedmont Natural Gas Co., Inc., 2.50%, 3/15/31, Callable 12/15/30 @ 100		420,383

				1,080,753

Health Care (0.1%):
	610,000	City of Hope, Series 2013, 5.62%, 11/15/43		661,116
	462,000	Nationwide Children’s Hospital, Inc., 4.56%, 11/1/52, Callable 5/1/52 @ 100		475,385

				1,136,501

Health Care Equipment & Supplies (0.1%):
	525,000	Becton Dickinson & Co., 1.40%, 5/24/23, Callable 4/24/23 @ 100		549,683
	510,000	Becton Dickinson & Co., 0.03%, 8/13/25, Callable 7/13/25 @ 100		494,642
	333,000	Boston Scientific Corp., 2.65%, 6/1/30, Callable 3/1/30 @ 100		290,611


Principal Amount			Value
Corporate Bonds, continued
Health Care Equipment & Supplies, continued
$	100,000	Medtronic Global Holdings SCA, 1.75%, 7/2/49, Callable 1/2/49 @ 100	$	70,762

				1,405,698

Health Care Providers & Services (1.3%):
	275,000	AHS Hospital Corp., 2.78%, 7/1/51, Callable 1/1/51 @ 100		199,008
	448,000	Anthem, Inc., 4.55%, 3/1/48, Callable 9/1/47 @ 100		432,999
	2,140,000	Cigna Corp., 4.13%, 11/15/25, Callable 9/15/25 @ 100		2,145,791
	1,520,000	Cigna Corp., 3.40%, 3/1/27, Callable 12/1/26 @ 100		1,461,176
	350,000	CommonSpirit Health, 2.78%, 10/1/30, Callable 4/1/30 @ 100		304,429
	498,000	CVS Health Corp., 5.00%, 12/1/24, Callable 9/1/24 @ 100		512,178
	5,000	CVS Health Corp., 2.88%, 6/1/26, Callable 3/1/26 @ 100		4,761
	1,539,000	CVS Health Corp., 3.00%, 8/15/26, Callable 6/15/26 @ 100		1,478,160
	1,470,000	CVS Health Corp., 3.63%, 4/1/27, Callable 2/1/27 @ 100		1,435,205
	1,817,000	CVS Health Corp., 5.13%, 7/20/45, Callable 1/20/45 @ 100		1,770,772
	1,240,000	Duke University Health, 3.92%, 6/1/47, Callable 12/1/46 @ 100		1,139,937
	7,636,000	HCA, Inc., 5.25%, 4/15/25		7,655,090
	2,570,000	HCA, Inc., 5.25%, 6/15/26, Callable 12/15/25 @ 100		2,570,000
	730,000	HCA, Inc., 3.50%, 9/1/30, Callable 3/1/30 @ 100		623,238
	2,805,000	HCA, Inc., 3.63%, 3/15/32, Callable 12/15/31 @ 100(a)		2,395,136
	2,871,000	HCA, Inc., 3.50%, 7/15/51, Callable 1/15/51 @ 100		2,009,823
	1,088,000	HCA, Inc., 4.63%, 3/15/52, Callable 9/15/51 @ 100(a)		875,704
	1,361,000	Humana, Inc., 1.35%, 2/3/27, Callable 1/3/27 @ 100		1,194,301
	221,000	UnitedHealth Group, Inc., 4.75%, 7/15/45		223,106
	957,000	UnitedHealth Group, Inc., 4.20%, 1/15/47, Callable 7/15/46 @ 100		901,117
	530,000	UnitedHealth Group, Inc., 3.75%, 10/15/47, Callable 4/15/47 @ 100		468,841
	427,000	UnitedHealth Group, Inc., 4.25%, 6/15/48, Callable 12/15/47 @ 100		402,997

				30,203,769

Hotels, Restaurants & Leisure (0.1%):
	236,000	Marriott International, Inc., 4.63%, 6/15/30, Callable 3/15/30 @ 100		226,929
	1,200,000	McDonald’s Corp., Series G, 1.00%, 11/15/23, MTN(a)		1,248,685

				1,475,614

Industrial Conglomerates (0.1%):
	785,000	3M Co., Series E, 0.95%, 5/15/23		822,663
	637,000	General Electric Co., Series A, 6.75%, 3/15/32		714,336
	248,000	Georgia-Pacific LLC, 3.60%, 3/1/25, Callable 12/1/24 @ 100(a)		247,005

				1,784,004


Principal Amount			Value
Corporate Bonds, continued
Industrial Services (0.0%^†):
$	460,000	Burlington Northern Santa Fe LLC, 4.45%, 1/15/53, Callable 7/15/52 @ 100	$	447,874

Insurance (0.3%):
	1,013,000	American International Group, Inc., 4.80%, 7/10/45, Callable 1/10/45 @ 100		948,866
	330,000	American International Group, Inc., 4.38%, 6/30/50, Callable 12/30/49 @ 100		296,328
	572,000	Aon Corp., 4.50%, 12/15/28, Callable 9/15/28 @ 100		566,450
	1,903,000	Aon Corp., 2.80%, 5/15/30, Callable 2/15/30 @ 100		1,666,478
	171,000	Aon Corp. / Aon Global Holdings plc, 3.90%, 2/28/52, Callable 8/28/51 @ 100		141,148
	103,000	Hartford Financial Services Group, Inc. (The), 4.30%, 4/15/43		91,616
	480,000	Marsh & McLennan Cos., Inc., 1.35%, 9/21/26, Callable 6/21/26 @ 100		474,015
	433,000	Marsh & McLennan Cos., Inc., 4.38%, 3/15/29, Callable 12/15/28 @ 100		429,034
	833,000	Marsh & McLennan Cos., Inc., 2.25%, 11/15/30, Callable 8/15/30 @ 100		705,153
	843,000	Marsh McLennan Cos., Inc., 2.38%, 12/15/31, Callable 9/15/31 @ 100		710,554
	404,000	Teachers Insurance & Annuity Association of America, 4.90%, 9/15/44(a)		392,660

				6,422,302

IT Services (0.4%):
	793,000	Fidelity National Information Services, Inc., 3.10%, 3/1/41, Callable 9/1/40 @ 100		581,666
	789,000	Fiserv, Inc., 3.50%, 7/1/29, Callable 4/1/29 @ 100		720,726
	404,000	Global Payments, Inc., 2.15%, 1/15/27, Callable 12/15/26 @ 100		359,104
	2,345,000	Global Payments, Inc., 3.20%, 8/15/29, Callable 5/15/29 @ 100		2,054,086
	1,898,000	Global Payments, Inc., 2.90%, 5/15/30, Callable 2/15/30 @ 100		1,605,019
	1,053,000	International Business Machines Corp., 3.30%, 5/15/26		1,029,003
	175,000	International Business Machines Corp., 4.25%, 5/15/49		155,627
	431,000	International Business Machines Corp., 3.43%, 2/9/52, Callable 8/9/51 @ 100		332,585
	1,725,000	MasterCard, Inc., 1.10%, 12/1/22, Callable 9/1/22 @ 100		1,810,167

				8,647,983

Life Sciences Tools & Services (0.1%):
	1,402,000	Agilent Technologies, Inc., 2.30%, 3/12/31, Callable 12/12/30 @ 100		1,148,654
	2,442,000	Thermo Fisher Scientific, Inc., 2.00%, 10/15/31, Callable 7/15/31 @ 100		2,060,379

				3,209,033

Machinery (0.0%^†):
	663,000	Parker-Hannifin Corp., 3.25%, 6/14/29, Callable 3/14/29 @ 100		609,286

Media (0.5%):
	2,976,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 3.95%, 6/30/62, Callable 12/30/61 @ 100		2,001,330


Principal Amount			Value
Corporate Bonds, continued
Media, continued
$	3,978,000	Comcast Corp., 2.65%, 2/1/30, Callable 11/1/29 @ 100	$	3,552,927
	937,000	Comcast Corp., 3.40%, 7/15/46, Callable 1/15/46 @ 100		758,364
	850,000	Comcast Corp., 3.97%, 11/1/47, Callable 5/1/47 @ 100		740,979
	1,944,000	Comcast Corp., 2.94%, 11/1/56, Callable 5/1/56 @ 100		1,357,355
	799,000	Cox Communications, Inc., 3.60%, 6/15/51, Callable 12/15/50 @ 100(a)		605,743
	724,000	COX Communications, Inc., 3.15%, 8/15/24, Callable 6/15/24 @ 100(a)		707,344
	1,153,000	Discovery Communications LLC, 1.90%, 3/19/27, Callable 12/19/26 @ 100^		1,131,532
	301,000	NBCUniversal Media LLC, 4.45%, 1/15/43		280,991

				11,136,565

Metals & Mining (0.1%):
	1,380,000	Nucor Corp., 4.30%, 5/23/27, Callable 4/23/27 @ 100		1,376,500

Multi-Utilities (0.2%):
	5,000	Ameren Illinois Co., 4.15%, 3/15/46, Callable 9/15/45 @ 100		4,581
	762,000	Ameren Illinois Co., 3.25%, 3/15/50, Callable 9/15/49 @ 100		595,564
	245,000	Ameren Illinois Co., 2.90%, 6/15/51, Callable 12/15/50 @ 100		179,801
	176,000	CenterPoint Energy Houston Electric LLC, 3.95%, 3/1/48, Callable 9/1/47 @ 100		159,058
	695,000	CenterPoint Energy Houston Electric LLC, 3.35%, 4/1/51, Callable 10/1/50 @ 100		563,687
	1,542,000	CenterPoint Energy Resources Corp., 1.75%, 10/1/30, Callable 7/1/30 @ 100		1,255,890
	301,000	Consumers Energy Co., 3.80%, 11/15/28, Callable 8/15/28 @ 100		289,726
	430,000	Consumers Energy Co., 4.05%, 5/15/48, Callable 11/15/47 @ 100		395,573
	531,000	Consumers Energy Co., 3.75%, 2/15/50, Callable 8/15/49 @ 100		460,792
	778,000	Consumers Energy Co., 3.10%, 8/15/50, Callable 2/15/50 @ 100		605,271
	180,000	Consumers Energy Co., 3.50%, 8/1/51, Callable 2/1/51 @ 100		150,653
	318,000	Consumers Energy Co., 2.65%, 8/15/52, Callable 2/15/52 @ 100		223,867

				4,884,463

Oil, Gas & Consumable Fuels (2.6%):
	1,695,000	Cameron LNG LLC, 3.30%, 1/15/35, Callable 9/15/34 @ 100(a)		1,454,885
	672,000	Cameron LNG LLC, 3.40%, 1/15/38, Callable 7/15/37 @ 100(a)		568,996
	1,474,000	Cheniere Corpus Christi Holdings LLC, 7.00%, 6/30/24, Callable 1/1/24 @ 100		1,523,747
	656,000	Cheniere Corpus Christi Holdings LLC, 5.88%, 3/31/25, Callable 10/2/24 @ 100		671,154
	4,397,000	Cheniere Corpus Christi Holdings LLC, 5.13%, 6/30/27, Callable 1/1/27 @ 100		4,399,638
	1,650,000	Cheniere Corpus Christi Holdings LLC, 3.70%, 11/15/29, Callable 5/18/29 @ 100		1,510,905


Principal Amount			Value
Corporate Bonds, continued
Oil, Gas & Consumable Fuels, continued
$	635,000	Cheniere Corpus Christi Holdings LLC, 2.74%, 12/31/39, Callable 7/4/39 @ 100	$	493,497
	469,000	Devon Energy Corp., 8.25%, 8/1/23, Callable 6/1/23 @ 100		488,932
	78,000	Devon Energy Corp., 5.88%, 6/15/28, Callable 6/15/23 @ 102.94		79,268
	3,600,000	Devon Energy Corp., 4.50%, 1/15/30, Callable 1/15/25 @ 102.25		3,397,500
	619,000	Devon Energy Corp., 4.75%, 5/15/42, Callable 11/15/41 @ 100		560,969
	3,970,000	Diamondback Energy, Inc., 3.25%, 12/1/26, Callable 10/1/26 @ 100		3,875,712
	3,105,000	Diamondback Energy, Inc., 3.50%, 12/1/29, Callable 9/1/29 @ 100		2,848,838
	1,586,000	Diamondback Energy, Inc., 4.40%, 3/24/51, Callable 9/24/50 @ 100		1,359,507
	1,833,000	Diamondback Energy, Inc., 4.25%, 3/15/52, Callable 9/15/51 @ 100		1,546,037
	711,000	Enable Midstream Partners LP, 3.90%, 5/15/24, Callable 2/15/24 @ 100		703,847
	1,007,000	Energy Transfer LP, 5.88%, 1/15/24, Callable 10/15/23 @ 100		1,019,587
	1,064,000	Energy Transfer LP, 5.95%, 12/1/25, Callable 9/1/25 @ 100		1,102,570
	270,000	Energy Transfer LP, 4.40%, 3/15/27, Callable 12/15/26 @ 100		263,361
	587,000	Energy Transfer LP, 5.50%, 6/1/27, Callable 3/1/27 @ 100		593,604
	1,900,000	Energy Transfer LP, 4.95%, 6/15/28, Callable 3/15/28 @ 100		1,873,875
	1,725,000	Energy Transfer LP, 5.25%, 4/15/29, Callable 1/15/29 @ 100		1,712,062
	236,000	Energy Transfer LP, 8.25%, 11/15/29, Callable 8/15/29 @ 100		265,674
	1,500,000	Energy Transfer LP, 5.00%, 5/15/50, Callable 11/15/49 @ 100		1,278,750
	266,000	Energy Transfer Operating LP, 4.50%, 4/15/24, Callable 3/15/24 @ 100		265,667
	857,000	Energy Transfer Operating LP, 4.05%, 3/15/25, Callable 12/15/24 @ 100		839,860
	675,000	Energy Transfer Operating LP, 6.25%, 4/15/49, Callable 10/15/48 @ 100		654,750
	670,000	Energy Transfer Partners LP, 3.60%, 2/1/23, Callable 11/1/22 @ 100		670,837
	515,000	Enterprise Products Operating LLC, 4.20%, 1/31/50, Callable 7/31/49 @ 100		431,519
	221,000	Enterprise Products Operating LLC, 3.20%, 2/15/52, Callable 8/15/51 @ 100		159,834
	701,000	Enterprise Products Operating LLC, 3.30%, 2/15/53, Callable 8/15/52 @ 100		510,646
	1,090,000	Exxon Mobil Corp., 1.41%, 6/26/39, Callable 12/26/38 @ 100		799,529
	228,000	Kinder Morgan Energy Partners LP, 6.95%, 1/15/38, MTN		245,765
	37,000	Kinder Morgan Energy Partners LP, 7.50%, 11/15/40		41,661
	639,000	Kinder Morgan, Inc., 3.60%, 2/15/51, Callable 8/15/50 @ 100		472,755


Principal Amount			Value
Corporate Bonds, continued
Oil, Gas & Consumable Fuels, continued
$	1,313,000	NGPL PipeCo LLC, 3.25%, 7/15/31, Callable 4/15/31 @ 100(a)	$	1,104,279
	1,292,000	NGPL PipeCo. LLC, 4.88%, 8/15/27, Callable 2/15/27 @ 100(a)		1,266,160
	770,000	Northern Natural Gas Co., 4.30%, 1/15/49, Callable 7/15/48 @ 100(a)		670,645
	2,523,000	Northwest Pipeline LLC, 4.00%, 4/1/27, Callable 1/1/27 @ 100		2,453,855
	215,000	Sabine Pass Liquefaction LLC, 5.75%, 5/15/24, Callable 2/15/24 @ 100		218,763
	1,268,000	Sabine Pass Liquefaction LLC, 5.63%, 3/1/25, Callable 12/1/24 @ 100		1,290,190
	1,255,000	Sabine Pass Liquefaction LLC, 5.00%, 3/15/27, Callable 9/15/26 @ 100		1,256,569
	2,286,000	Sabine Pass Liquefaction LLC, 4.20%, 3/15/28, Callable 9/15/27 @ 100		2,183,130
	1,550,000	Sabine Pass Liquefaction LLC, 4.50%, 5/15/30, Callable 11/15/29 @ 100		1,486,062
	720,000	Targa Resources Corp., 4.95%, 4/15/52, Callable 10/15/51 @ 100		624,547
	470,000	Targa Resources Partners LP / Targa Resources Partners Finance Corp, 5.00%, 1/15/28, Callable 1/15/23 @ 102.5		448,262
	220,000	Texas Eastern Transmission LP, 2.80%, 10/15/22, Callable 8/8/22 @ 100(a)		220,044
	1,373,000	Texas Eastern Transmission LP, 3.50%, 1/15/28, Callable 10/15/27 @ 100(a)		1,292,796
	1,119,000	Texas Eastern Transmission LP, 4.15%, 1/15/48, Callable 7/15/47 @ 100(a)		924,567
	2,610,000	Transcontinental Gas Pipe Line Co. LLC, 7.85%, 2/1/26, Callable 11/1/25 @ 100		2,874,899
	2,198,000	Transcontinental Gas Pipe Line Co. LLC, 4.00%, 3/15/28, Callable 12/15/27 @ 100		2,119,393
	255,000	Transcontinental Gas Pipe Line Co. LLC, 3.95%, 5/15/50, Callable 11/15/49 @ 100		212,492
	240,000	Williams Cos., Inc., Series A, 7.50%, 1/15/31		275,774

				59,608,165

Power (0.1%):
	1,783,000	Texas Electric Market Stabilization Funding N LLC, 4.27%, 8/1/34(a)		1,773,338

Professional Services (0.3%):
	2,555,000	Leidos, Inc., 4.38%, 5/15/30, Callable 2/15/30 @ 100		2,366,569
	3,657,000	RELX Capital, Inc., 3.50%, 3/16/23, Callable 2/16/23 @ 100		3,649,700
	1,797,000	RELX Capital, Inc., 3.00%, 5/22/30, Callable 2/22/30 @ 100		1,629,227

				7,645,496

Real Estate Management & Development (0.0%^†):
	915,000	Northwest Florida Timber Finance LLC, 4.75%, 3/4/29(a)		842,269

Road & Rail (0.7%):
	1,369,000	Burlington Northern Santa Fe LLC, 4.15%, 12/15/48, Callable 6/15/48 @ 100		1,267,135
	313,000	Burlington Northern Santa Fe LLC, 2.88%, 6/15/52, Callable 12/15/51 @ 100		235,509
	1,794,000	CSX Corp., 2.60%, 11/1/26, Callable 8/1/26 @ 100		1,686,496


Principal Amount			Value
Corporate Bonds, continued
Road & Rail, continued
$	540,000	CSX Corp., 3.25%, 6/1/27, Callable 3/1/27 @ 100	$	520,114
	534,000	CSX Corp., 4.10%, 3/15/44, Callable 9/15/43 @ 100		472,439
	145,000	Norfolk Southern Corp., 2.90%, 6/15/26, Callable 3/15/26 @ 100		138,658
	1,356,000	Norfolk Southern Corp., 2.55%, 11/1/29, Callable 8/1/29 @ 100		1,215,288
	1,953,000	Norfolk Southern Corp., 3.00%, 3/15/32, Callable 12/15/31 @ 100^		1,761,501
	243,000	Norfolk Southern Corp., 3.40%, 11/1/49, Callable 5/1/49 @ 100		192,300
	340,000	Norfolk Southern Corp., 4.55%, 6/1/53, Callable 12/1/52 @ 100		323,111
	478,000	Penske Truck Leasing Co. LP / PTL Finance Corp., 3.95%, 3/10/25, Callable 1/10/25 @ 100(a)		471,859
	1,490,000	Penske Truck Leasing Co. LP / PTL Finance Corp., 1.20%, 11/15/25, Callable 10/15/25 @ 100(a)		1,332,890
	397,000	Penske Truck Leasing Co. LP / PTL Finance Corp., 4.45%, 1/29/26, Callable 11/29/25 @ 100(a)		393,559
	633,000	Ryder System, Inc., 4.63%, 6/1/25, Callable 5/1/25 @ 100, MTN		636,314
	1,566,000	Ryder System, Inc., 3.35%, 9/1/25, Callable 8/1/25 @ 100, MTN		1,515,138
	349,000	Ryder System, Inc., 2.90%, 12/1/26, Callable 10/1/26 @ 100		325,758
	175,000	Union Pacific Corp., 2.80%, 2/14/32, Callable 12/15/31 @ 100		156,211
	1,707,000	Union Pacific Corp., 2.89%, 4/6/36, Callable 1/6/36 @ 100		1,429,085
	2,000	Union Pacific Corp., 4.50%, 9/10/48, Callable 3/10/48 @ 100		1,927
	1,224,000	Union Pacific Corp., 3.25%, 2/5/50, Callable 8/5/49 @ 100		964,166
	85,000	Union Pacific Corp., 2.95%, 3/10/52, Callable 9/10/51 @ 100		62,925
	366,025	Union Pacific Railroad Co., Series 2014-1, 3.23%, 5/14/26		358,169

				15,460,552

Semiconductors & Semiconductor Equipment (0.7%):
	287,000	Applied Materials, Inc., 4.35%, 4/1/47, Callable 10/1/46 @ 100		281,436
	1,271,000	Broadcom Corp./Broadcom Cayman Finance, Ltd., 3.88%, 1/15/27, Callable 10/15/26 @ 100		1,229,853
	288,000	Broadcom, Inc., 3.46%, 9/15/26, Callable 7/15/26 @ 100		276,592
	859,000	Broadcom, Inc., 4.15%, 11/15/30, Callable 8/15/30 @ 100		788,132
	5,000	Broadcom, Inc., 2.45%, 2/15/31, Callable 11/15/30 @ 100(a)		4,025
	850,000	Broadcom, Inc., 4.15%, 4/15/32, Callable 1/15/32 @ 100(a)		770,224
	5,854,000	Broadcom, Inc., 4.93%, 5/15/37, Callable 2/15/37 @ 100(a)		5,251,173
	335,000	Intel Corp., 3.10%, 2/15/60, Callable 8/15/59 @ 100		241,967
	1,096,000	Intel Corp., 3.20%, 8/12/61, Callable 2/12/61 @ 100		805,191
	16,000	KLA Corp., 4.65%, 11/1/24, Callable 8/1/24 @ 100		16,258
	925,000	KLA Corp., 3.30%, 3/1/50, Callable 8/28/49 @ 100		737,483
	700,000	KLA Corp., 5.25%, 7/15/62, Callable 1/15/62 @ 100		722,170
	2,110,000	KLA-Tencor Corp., 4.10%, 3/15/29, Callable 12/15/28 @ 100		2,092,329


Principal Amount			Value
Corporate Bonds, continued
Semiconductors & Semiconductor Equipment, continued
$	75,000	Lam Research Corp., 3.75%, 3/15/26, Callable 1/15/26 @ 100	$	74,745
	303,000	Lam Research Corp., 4.88%, 3/15/49, Callable 9/15/48 @ 100		310,353
	627,000	Lam Research Corp., 2.88%, 6/15/50, Callable 12/15/49 @ 100		463,378
	359,000	QUALCOMM, Inc., 4.30%, 5/20/47, Callable 11/20/46 @ 100		344,638
	1,500,000	TSMC Arizona Corp., 4.25%, 4/22/32, Callable 1/22/32 @ 100		1,485,036

				15,894,983

Software (1.0%):
	1,438,000	Autodesk, Inc., 2.85%, 1/15/30, Callable 10/15/29 @ 100		1,272,032
	1,171,000	Citrix Systems, Inc., 3.30%, 3/1/30, Callable 12/1/29 @ 100		1,153,372
	3,721,000	Oracle Corp., 2.80%, 4/1/27, Callable 2/1/27 @ 100		3,405,373
	3,274,000	Oracle Corp., 2.30%, 3/25/28, Callable 1/25/28 @ 100		2,825,521
	120,000	Oracle Corp., 4.30%, 7/8/34, Callable 1/8/34 @ 100		104,881
	1,072,000	Oracle Corp., 3.90%, 5/15/35, Callable 11/15/34 @ 100		886,624
	1,560,000	Oracle Corp., 3.85%, 7/15/36, Callable 1/15/36 @ 100		1,267,787
	3,040,000	Oracle Corp., 3.80%, 11/15/37, Callable 5/15/37 @ 100		2,406,671
	591,000	Oracle Corp., 6.13%, 7/8/39		597,105
	2,111,000	Oracle Corp., 3.60%, 4/1/40, Callable 10/1/39 @ 100		1,583,455
	1,375,000	Oracle Corp., 5.38%, 7/15/40		1,260,621
	1,305,000	Oracle Corp., 3.95%, 3/25/51, Callable 9/25/50 @ 100		958,421
	1,018,000	salesforce.com, Inc., 3.05%, 7/15/61, Callable 1/15/61 @ 100		752,922
	1,499,000	ServiceNow, Inc., 1.40%, 9/1/30, Callable 6/1/30 @ 100		1,179,382
	281,000	Vmware, Inc., 4.65%, 5/15/27, Callable 3/15/27 @ 100		280,573
	427,000	Vmware, Inc., 3.90%, 8/21/27, Callable 5/21/27 @ 100		410,759
	361,000	Vmware, Inc., 1.80%, 8/15/28, Callable 6/15/28 @ 100		299,873
	1,164,000	Vmware, Inc., 2.20%, 8/15/31, Callable 5/15/31 @ 100		919,525
	545,000	Workday, Inc., 3.80%, 4/1/32, Callable 1/1/32 @ 100		497,918

				22,062,815

Software & Tech Services (0.0%^†):
	75,000	RELX Capital, Inc., 4.75%, 5/20/32, Callable 2/20/32 @ 100		76,190

Specialty Retail (0.1%):
	1,251,000	Lowe’s Cos., Inc., 4.00%, 4/15/25, Callable 3/15/25 @ 100		1,256,683
	861,000	Lowe’s Cos., Inc., 3.65%, 4/5/29, Callable 1/5/29 @ 100		814,435


Principal Amount			Value
Corporate Bonds, continued
Specialty Retail, continued
$	486,000	Lowe’s Cos., Inc., 2.80%, 9/15/41, Callable 3/15/41 @ 100	$	355,126

				2,426,244

Technology Hardware, Storage & Peripherals (0.0%^†):
	98,000	Dell International LLC/EMC Corp., 8.35%, 7/15/46, Callable 1/15/46 @ 100		122,384
	541,000	Dell International LLC/EMC Corp., 3.45%, 12/15/51, Callable 6/15/51 @ 100(a)		365,750
	344,000	Hp, Inc., 2.65%, 6/17/31, Callable 3/17/31 @ 100		277,758

				765,892

Telecommunications (0.0%^†):
	253,000	T Mobile USA, Inc., 2.70%, 3/15/32, Callable 12/15/31 @ 100(a)		212,629

Tobacco (0.4%):
	415,000	Altria Group, Inc., 2.20%, 6/15/27, Callable 4/15/27 @ 100		390,932
	4,232,000	Altria Group, Inc., 5.80%, 2/14/39, Callable 8/14/38 @ 100		3,862,225
	84,000	Altria Group, Inc., 6.20%, 2/14/59, Callable 8/14/58 @ 100		78,176
	1,549,000	BAT Capital Corp., 3.22%, 9/6/26, Callable 7/6/26 @ 100		1,446,657
	567,000	BAT Capital Corp., 4.76%, 9/6/49, Callable 3/6/49 @ 100		434,095
	948,000	Reynolds American, Inc., 4.45%, 6/12/25, Callable 3/12/25 @ 100		944,827
	1,732,000	Reynolds American, Inc., 5.85%, 8/15/45, Callable 2/15/45 @ 100		1,460,211

				8,617,123

Utilities (0.2%):
	408,000	AEP Transmission Co. LLC, 4.50%, 6/15/52, Callable 12/1/51 @ 100		392,899
	220,000	Baltimore Gas and Electric Co., 4.55%, 6/1/52, Callable 12/1/51 @ 100		214,302
	470,000	CenterPoint Ener Houston, 3.60%, 3/1/52, Callable 9/1/51 @ 100		405,395
	254,000	Commonwealth Edison Co., 3.85%, 3/15/52, Callable 9/15/51 @ 100		224,176
	243,000	Duke Energy Carolinas LLC, 3.55%, 3/15/52, Callable 9/15/51 @ 100		202,851
	3,266,000	Vistra Operations Co. LLC, 5.13%, 5/13/25(a)		3,240,564

				4,680,187

Wireless Telecommunication Services (0.6%):
	11,257,000	T-Mobile USA, Inc., 3.75%, 4/15/27, Callable 2/15/27 @ 100		10,840,761
	77,000	T-Mobile USA, Inc., 3.88%, 4/15/30, Callable 1/15/30 @ 100		72,074
	2,779,000	T-Mobile USA, Inc., 3.30%, 2/15/51, Callable 8/15/50 @ 100		2,028,731
	673,000	T-Mobile USA, Inc., 3.40%, 10/15/52, Callable 4/15/52 @ 100(a)		499,784

				13,441,350

	Total Corporate Bonds (Cost $685,772,282)			599,687,470

Foreign Bonds (1.7%):
Aerospace & Defense (0.0%^†):
	410,000	Airbus SE, 2.38%, 6/9/40, Callable 3/9/40 @ 100, MTN+(a)		353,731


Principal Amount			Value
Foreign Bonds, continued
Automobiles (0.0%^†):
$	300,000	Volkswagen International Finance NV, 4.13%, 11/16/38+(a)	$	293,949

Banks (0.3%):
	900,000	Banco de Sabadell SA, 1.12%(EUSA1+155bps), 3/11/27, Callable 3/11/26 @ 100^+(a)		862,430
	2,000,000	BNP Paribas SA, 0.25%(EUR003M+70bps), 4/13/27, Callable 4/13/26 @ 100, MTN+(a)		1,867,705
	800,000	BNP Paribas SA, 0.50%(EUR0003M+83bps), 1/19/30, Callable 1/19/29 @ 100, MTN+(a)		682,118
	500,000	BPCE SA, 0.25%, 1/15/26+(a)		483,995
	300,000	de Volksbank NV, 1.75%(EUSA5+2.1bps), 10/22/30, Callable 10/22/25 @ 100, MTN+(a)		287,228
	300,000	Erste Group Bank AG, 1.62%(EUAMDB05+210bps), 9/8/31, Callable 6/8/26 @ 100+(a)		280,549
	400,000	KBC Group NV, Series E, 1.13%, 1/25/24, MTN+(a)		412,515
	1,013,000	Lloyds Banking Group plc, 4.50%(EUR003M+172.2bps), 3/18/30, Callable 3/18/25 @ 100, MTN+(a)		1,046,753
	1,000,000	Toronto-Dominion Bank (The), Series E, 0.38%, 4/25/24+(a)		1,018,473

				6,941,766

Beverages (0.0%^†):
	600,000	Pernod Ricard SA, 1.33%, 10/24/23, Callable 9/24/23 @ 100+(a)		617,823

Capital Markets (0.2%):
	1,900,000	Credit Suisse Group AG, 3.25%(EUAMDB01+350bps), 4/2/26, Callable 4/2/25 @ 100, MTN+(a)		1,941,051
	700,000	Deutsche Bank AG, 1.00%(EUR003M+1.6bps), 11/19/25, Callable 11/19/24 @ 100+(a)		691,286
	1,200,000	Deutsche Bank AG, 1.88%(EUR003M+138bps), 2/23/28, Callable 2/23/27 @ 100, MTN+(a)		1,131,625
	670,000	SELP Finance Sarl, 0.88%, 5/27/29, Callable 2/27/29 @ 100+(a)		562,379
	1,140,000	Viterra Finance BV, 0.38%, 9/24/25, Callable 8/24/25 @ 100, MTN+(a)		1,067,972

				5,394,313

Chemicals (0.0%^†):
	390,000	Covestro AG, 0.88%, 2/3/26, Callable 11/3/25 @ 100, MTN+(a)		372,208

Diversified Financial Services (0.1%):
	515,000	BAT International Finance plc, 1.25%, 3/13/27, Callable 12/13/26 @ 100, MTN+(a)		478,209
	825,000	BP Capital Matkets plc, 3.25%(EUSA5+388bps), Callable 3/22/26 @ 100+(a)		780,153
	400,000	Total Capital International SA, Series E, 2.13%, 3/15/23, MTN+(a)		423,563

				1,681,925

Diversified Telecommunication Services (0.0%^†):
	400,000	Verizon Communications, 1.13%, 9/19/35, Callable 6/19/35 @ 100+		317,965

Electronic Equipment, Instruments & Components (0.0%^†):
	750,000	Amphenol Technologies Holding GmbH, 0.75%, 5/4/26, Callable 2/4/26 @ 100+(a)		732,193

Equity Real Estate Investment Trusts (0.2%):
	3,000,000	American Tower Corp., 0.45%, 1/15/27, Callable 11/15/26 @ 100+		2,735,860


Principal Amount			Value
Foreign Bonds, continued
Equity Real Estate Investment Trusts, continued
$	700,000	Merlin Properties Socimi SA, 1.88%, 12/4/34, Callable 9/4/34 @ 100+(a)	$	526,947

				3,262,807

Health Care Equipment & Supplies (0.0%^†):
	200,000	DH Europe Finance II Sarl, 1.35%, 9/18/39, Callable 3/18/39 @ 100+		144,877
	320,000	Medtronic Global Holdings SCA, 1.38%, 10/15/40, Callable 4/15/40 @ 100+		235,006

				379,883

Health Care Providers & Services (0.0%^†):
	390,000	Fresenius Finance Ireland plc, 0.88%, 10/1/31, Callable 7/1/31 @ 100, MTN+(a)		304,357

IT Services (0.0%^†):
	100,000	Amadeus IT Group SA, 1.88%, 9/24/28, Callable 6/24/28 @ 100, MTN+(a)		94,779

Machinery (0.0%^†):
	400,000	KION Group AG, 1.63%, 9/24/25, Callable 6/24/25 @ 100, MTN+(a)		395,683

Media (0.1%):
	870,000	Informa plc, 2.13%, 10/6/25, Callable 7/6/25 @ 100, MTN+(a)		883,747
	160,000	WPP Finance SA, 2.38%, 5/19/27, MTN+(a)		162,238

				1,045,985

Multi-Utilities (0.1%):
	1,300,000	E.ON SE, 0.35%, 10/24/22, Callable 9/24/22 @ 100, MTN+(a)		1,360,642
	280,000	Innogy Finance BV, Series E, 0.75%, 11/30/22, Callable 8/30/22 @ 100, MTN+(a)		293,367
	100,000	Suez SA, 1.62%(EUAMDB05+215.1bps), Callable 6/1/26 @ 100+(a)		87,360
	100,000	Veolia Environnement SA, 0.80%, 1/15/32, Callable 10/15/31 @ 100, MTN+(a)		83,649

				1,825,018

Oil, Gas & Consumable Fuels (0.1%):
	330,000	Aker BP ASA, 1.13%, 5/12/29, Callable 2/12/29 @ 100, MTN+(a)		292,919
	600,000	Digital Dutch Finco BV, 1.00%, 1/15/32, Callable 10/15/31 @ 100+(a)		446,407
	1,100,000	TotalEnergies SE, 1.75%(EUSA5+176.5bps), 12/31/99, Callable 4/4/24 @ 100, MTN+(a)		1,080,545

				1,819,871

Pharmaceuticals (0.1%):
	500,000	Merck Financial Services GmbH, 0.13%, 7/16/25, Callable 4/16/25 @ 100, MTN+(a)		494,766
	200,000	Merck KGaA, 1.62%(EUAMDB05+194.8bps), 6/25/79, Callable 9/18/24 @ 100+(a)		196,201
	375,000	Takeda Pharmaceutical Co., Ltd., 2.00%, 7/9/40, Callable 1/9/40 @ 100+		296,843
	840,000	Upjohn Finance BV, 1.02%, 6/23/24, Callable 5/23/24 @ 100+(a)		844,269

				1,832,079

Professional Services (0.0%^†):
	520,000	RELX Finance BV, 1.97%, 3/18/24, Callable 2/18/24 @ 100+(a)		526,969


Principal Amount			Value
Foreign Bonds, continued
Professional Services, continued
$	220,000	Wolters Kluwer NV, 0.75%, 7/3/30, Callable 4/3/30 @ 100+(a)	$	192,866

				719,835

Real Estate Management & Development (0.0%^†):
	500,000	Vonovia Se, 1.38%, 1/28/26, Callable 11/28/25 @ 100, MTN+(a)		484,676

Sovereign Bond (0.4%):
	11,820,000	Mexico Government International Bond, 1.45%, 10/25/33, Callable 7/25/33 @ 100, MTN+		8,428,119
	714,000	Mexico Government International Bond, 2.13%, 10/25/51, Callable 4/25/51 @ 100+		409,526

				8,837,645

Tobacco (0.1%):
	410,000	Imperial Brands Finance Netherlands BV, 1.75%, 3/18/33, Callable 12/18/32 @ 100, MTN+(a)		311,884
	1,000,000	Philip Morris International, Inc., 1.88%, 11/6/37, Callable 8/6/37 @ 100+		634,171

				946,055

Trading Companies & Distributors (0.0%^†):
	490,000	Imcd NV, 2.13%, 3/31/27, Callable 12/31/26 @ 100+(a)		459,677

	Total Foreign Bonds (Cost $48,748,059)			39,114,223

Yankee Debt Obligations (4.3%):
Airlines (0.0%^†):
	274,968	Air Canada Pass Through Trust, Series 2017-1, Class A, 3.30%, 7/15/31(a)		247,220

Automobiles (0.1%):
	1,122,000	Nissan Motor Co., Ltd., 4.81%, 9/17/30, Callable 6/17/30 @ 100(a)		994,247

Banking (0.0%^†):
	200,000	Santander UK Group Holdings PLC, 2.47% (SOFR+122 bps), 1/11/28, Callable 1/11/27 @ 100		177,335

Banks (1.1%):
	278,000	Banco Inbursa SA Institucion De Banca Multiple Grupo Financiero Inbursa, 4.13%, 6/6/24(a)		273,757
	1,800,000	Banco Santander SA, 2.71%, 6/27/24		1,751,650
	628,000	Barclays plc, 2.67% (H15T1Y+120 bps), 3/10/32, Callable 3/10/31 @ 100		511,268
	2,084,000	BNP Paribas SA, 2.82% (US0003M+1 bps), 11/19/25, Callable 11/19/24 @ 100(a)		1,990,741
	309,000	BNP Paribas SA, 2.59% (SOFR+123 bps), 1/20/28, Callable 1/20/27 @ 100(a)		278,588
	250,000	BPCE SA, 2.70%, 10/1/29(a)		217,940
	854,000	Danske Bank A/S, 3.88%, 9/12/23(a)		853,207
	1,102,000	Danske Bank A/S, 5.38%, 1/12/24(a)		1,112,371
	856,000	Danske Bank A/S, 3.24% (US0003M+159 bps), 12/20/25, Callable 12/20/24 @ 100(a)		817,869
	681,000	Danske Bank A/S, 1.55%, 9/10/27, Callable 9/10/26 @ 100(a)		595,836
	1,076,000	HSBC Holdings plc, 2.25% (SOFR+110 bps), 11/22/27, Callable 11/22/26 @ 100		957,271
	628,000	HSBC Holdings plc, 4.58% (US0003M+153 bps), 6/19/29, Callable 6/19/28 @ 100		605,788
	278,000	HSBC Holdings plc, 2.21% (SOFR+129 bps), 8/17/29, Callable 8/17/28 @ 100		234,283


Principal Amount			Value
Yankee Debt Obligations, continued
Banks, continued
$	423,000	HSBC Holdings plc, 2.80% (SOFR+119 bps), 5/24/32, Callable 5/24/31 @ 100	$	348,557
	875,000	ING Groep NV, 4.63%, 1/6/26(a)		874,124
	348,000	Intercorp Peru, Ltd., 3.88%, 8/15/29, Callable 5/15/29 @ 100(a)		290,218
	1,330,000	Lloyds Banking Group plc, 2.91% (US0003M+81 bps), 11/7/23, Callable 11/7/22 @ 100		1,325,652
	1,119,000	Lloyds Banking Group plc, 4.38%, 3/22/28		1,083,323
	3,161,000	Mitsubishi UFJ Financial Group, Inc., 3.20%, 7/18/29		2,855,786
	1,015,000	Mizuho Financial Group, Inc., 2.55% (US0003M+110 bps), 9/13/25, Callable 9/13/24 @ 100		974,030
	2,005,000	Mizuho Financial Group, Inc., 1.98% (US0003M+127 bps), 9/8/31, Callable 9/8/30 @ 100		1,593,891
	811,000	Mizuho Financial Group, Inc., 2.26% (H15T1Y+90 bps), 7/9/32, Callable 7/9/31 @ 100		647,728
	375,000	Santander UK Group Holdings plc, 4.80% (US0003M+157 bps), 11/15/24, Callable 11/15/23 @ 100		375,965
	1,586,000	Santander UK Group Holdings plc, 1.09% (SOFR+79 bps), 3/15/25, Callable 3/15/24 @ 100		1,483,454
	1,720,000	Standard Chartered PLC, 2.61% (H15T1Y+118 bps), 1/12/28, Callable 1/12/27 @ 100(a)		1,539,737
	200,000	Sumitomo Mitsui Financial Group, Inc., 2.17%, 1/14/27		181,241

				23,774,275

Beverages (0.1%):
	1,457,000	Suntory Holdings, Ltd., 2.25%, 10/16/24, Callable 9/16/24 @ 100(a)		1,389,909

Biotechnology (0.3%):
	3,546,000	Shire Acquisitions Investments, 3.20%, 9/23/26, Callable 6/23/26 @ 100		3,409,812

Capital Markets (0.2%):
	884,000	Credit Suisse AG, 1.25%, 8/7/26		777,392
	1,640,000	Deutsche Bank AG, 1.45% (SOFR+113 bps), 4/1/25, Callable 4/1/24 @ 100		1,538,960
	206,000	Deutsche Bank AG, 4.10%, 1/13/26^		202,576
	2,000	Macquarie Group, Ltd., 4.65% (US0003M+173 bps), 3/27/29, Callable 3/27/28 @ 100(a)		1,950
	958,000	Nomura Holdings, Inc., 2.68%, 7/16/30		784,768
	475,000	Nomura Holdings, Inc., 2.61%, 7/14/31		379,644
	650,000	SA Global Sukuk, Ltd., 2.69%, 6/17/31, Callable 3/17/31 @ 100(a)		574,295
	1,888,000	UBS Group AG, 2.86% (US0003M+95 bps), 8/15/23, Callable 8/15/22 @ 100(a)		1,887,594

				6,147,179

Chemicals (0.0%^†):
	255,000	Sociedad Quimica y Minera de Chile SA, 4.25%, 1/22/50, Callable 7/22/49 @ 100(a)		215,156

Consumer Finance (0.2%):
	1,675,000	Hyundai Capital Services, Inc., 3.00%, 8/29/22(a)		1,675,452
	1,390,000	Hyundai Capital Services, Inc., 3.75%, 3/5/23(a)		1,389,764

				3,065,216


Principal Amount			Value
Yankee Debt Obligations, continued
Diversified Financial Services (0.1%):
$	270,000	Banco Latinoamericano de Comercio Exterior SA, 2.38%, 9/14/25, Callable 8/15/25 @ 100(a)	$	246,762
	423,000	GE Capital International Funding, 4.42%, 11/15/35		397,219
	55,000	nVent Finance Sarl, 2.75%, 11/15/31, Callable 8/15/31 @ 100		44,631
	1,040,000	ORIX Corp., 2.90%, 7/18/22		1,040,021

				1,728,633

Diversified Telecommunication Services (0.0%^†):
	389,000	Deutsche Telekom International Finance BV, 2.49%, 9/19/23, Callable 7/19/23 @ 100(a)		383,931

Energy Production (0.0%^†):
	327,000	Kallpa Generacion SA, 4.13%, 8/16/27, Callable 5/16/27 @ 100(a)		294,385

Equity Real Estate Investment Trusts (0.0%^†):
	269,000	Trust Fibra Uno, 5.25%, 12/15/24, Callable 9/15/24 @ 100(a)		263,284
	253,000	Trust Fibra Uno, 6.39%, 1/15/50, Callable 7/15/49 @ 100(a)		201,135

				464,419

Financial Services (0.0%^†):
	344,000	Eig Pearl Holdings Sarl, 4.39%, 11/30/46(a)		270,470

Food & Staples Retailing (0.0%^†):
	250,000	Cencosud SA, 5.15%, 2/12/25, Callable 11/12/24 @ 100(a)		249,200

Independent Power and Renewable Electricity Producers (0.0%^†):
	270,000	AES Panama Generation Holdings SRL, 4.38%, 5/31/30, Callable 2/28/30 @ 100(a)		232,875
	210,000	Colbun SA, 3.15%, 1/19/32, Callable 10/19/31 @ 100(a)		168,935

				401,810

Interactive Media & Services (0.1%):
	490,000	Baidu, Inc., 4.38%, 5/14/24, Callable 4/14/24 @ 100		493,475
	475,000	Baidu, Inc., 4.38%, 3/29/28, Callable 12/29/27 @ 100		468,639
	1,511,000	Tencent Holdings, Ltd., 2.99%, 1/19/23, Callable 12/19/22 @ 100(a)		1,507,969
	515,000	Tencent Holdings, Ltd., 3.60%, 1/19/28, Callable 10/19/27 @ 100(a)		489,393

				2,959,476

Internet & Direct Marketing Retail (0.0%^†):
	320,000	Alibaba Group Holding, Ltd., 2.80%, 6/6/23, Callable 5/6/23 @ 100		317,544

Machinery (0.0%^†):
	670,000	Trane Technologies Luxembourg Finance SA, 3.50%, 3/21/26, Callable 1/21/26 @ 100		655,368

Materials (0.0%^†):
	260,000	Celulosa Arauco y Constitucion SA, 4.20%, 1/29/30, Callable 10/29/29 @ 100(a)		231,343
	366,000	Equate Petrochemical BV, 4.25%, 11/3/26(a)		360,125
	137,000	Fibria Overseas Finance, Ltd., 5.50%, 1/17/27		135,801
	240,000	SABIC Capital II BV, 4.50%, 10/10/28(a)		242,564

				969,833

Metals & Mining (0.3%):
	2,622,000	Anglo American Capital plc, 4.75%, 4/10/27(a)		2,607,207
	365,000	Anglo American Capital plc, 4.00%, 9/11/27(a)		348,292


Principal Amount			Value
Yankee Debt Obligations, continued
Metals & Mining, continued
$	1,332,000	Anglo American Capital plc, 4.50%, 3/15/28, Callable 12/15/27 @ 100(a)	$	1,296,099
	1,074,000	Anglo American Capital plc, 2.25%, 3/17/28, Callable 1/17/28 @ 100(a)		926,901

				5,178,499

National (0.0%^†):
	200,000	Perusahaan Penerbit SBSN Indonesia III, 4.40%, 6/6/27(a)		198,750

Oil & Gas (0.0%^†):
	200,000	Empresa Nacional del Petroleo, 4.38%, 10/30/24(a)		199,500

Oil, Gas & Consumable Fuels (0.0%^†):
	342,000	Cenovus Energy, Inc., 3.75%, 2/15/52, Callable 8/15/51 @ 100^		259,960
	555,000	Ecopetrol SA, 4.13%, 1/16/25		514,069
	226,000	Galaxy Pipeline Assets Bidco, Ltd., 2.94%, 9/30/40(a)		185,032
	270,000	KazMunayGas National Co. JSC, 3.50%, 4/14/33, Callable 10/14/32 @ 100(a)		193,654
	270,000	Pertamina Persero PT, 3.10%, 1/21/30, Callable 10/21/29 @ 100(a)		233,887
	230,000	Petronas Capital, Ltd., 4.55%, 4/21/50, Callable 10/21/49 @ 100(a)		218,766
	275,000	Qatar Energy, 2.25%, 7/12/31, Callable 4/12/31 @ 100(a)		235,360
	290,000	Saudi Arabian Oil Co., 3.25%, 11/24/50, Callable 5/24/50 @ 100(a)		210,250
	290,000	Saudi Arabian Oil Co., 3.50%, 11/24/70, Callable 5/24/70 @ 100(a)		205,175
	298,000	Suncor Energy, Inc., 6.80%, 5/15/38		338,051
	250,000	Transportadora de Gas Internacional SA ESP, 5.55%, 11/1/28, Callable 8/1/28 @ 100(a)		225,937

				2,820,141

Paper & Forest Products (0.0%^†):
	240,000	Suzano Austria GmbH, 5.75%, 7/14/26(a)		242,981
	156,000	Suzano Austria GmbH, 3.75%, 1/15/31, Callable 10/15/30 @ 100		126,255

				369,236

Real Estate Management & Development (0.0%^†):
	250,000	Mitsui Fudosan Co., Ltd., 2.95%, 1/23/23, Callable 12/23/22 @ 100(a)		249,758

Sovereign Bond (1.2%):
	200,000	Abu Dhabi Government International Bond, 3.88%, 4/16/50(a)		178,468
	400,000	Chile Government International Bond, 3.24%, 2/6/28, Callable 11/6/27 @ 100		376,080
	1,560,000	Chile Government International Bond, 2.55%, 1/27/32, Callable 10/27/31 @ 100^		1,320,230
	200,000	Chile Government International Bond, 3.86%, 6/21/47		165,985
	1,905,000	Colombia Government International Bond, 3.13%, 4/15/31, Callable 1/15/31 @ 100		1,403,562
	860,000	Colombia Government International Bond, 3.25%, 4/22/32, Callable 1/22/32 @ 100		618,407
	200,000	Hungary Government International Bond, 5.25%, 6/16/29(a)		202,033


Principal Amount			Value
Yankee Debt Obligations, continued
Sovereign Bond, continued
$	236,000	Indonesia Government International Bond, 7.75%, 1/17/38(a)	$	282,313
	200,000	Indonesia Government International Bond, 6.75%, 1/15/44(a)		229,491
	210,000	Mexico Government International Bond, 3.75%, 1/11/28		200,503
	390,000	Mexico Government International Bond, 4.75%, 4/27/32, Callable 1/27/32 @ 100^		373,321
	108,000	Mexico Government International Bond, 5.75%, 10/12/10		89,743
	589,561	Oriental Republic of Uruguay, 4.50%, 8/14/24^		594,284
	2,265,000	Oriental Republic of Uruguay, 4.38%, 10/27/27		2,281,987
	655,000	Panama Government International Bond, 3.16%, 1/23/30, Callable 10/23/29 @ 100		578,856
	2,295,000	Panama Government International Bond, 4.50%, 4/1/56, Callable 10/1/55 @ 100		1,818,787
	245,000	Peruvian Government International Bond, 2.78%, 1/23/31, Callable 10/23/30 @ 100		207,273
	129,000	Peruvian Government International Bond, 1.86%, 12/1/32, Callable 9/1/32 @ 100		97,655
	30,000	Peruvian Government International Bond, 3.00%, 1/15/34, Callable 10/15/33 @ 100		24,192
	230,000	Philippine Government International Bond, 1.65%, 6/10/31^		184,949
	1,725,000	Philippine Government International Bond, 1.95%, 1/6/32		1,411,015
	689,000	Province of Manitoba, 3.05%, 5/14/24		687,991
	200,000	Qatar Government International Bond, 4.00%, 3/14/29(a)		202,287
	200,000	Qatar Government International Bond, 3.75%, 4/16/30(a)		198,870
	3,516,000	Republic of Colombia, 3.88%, 4/25/27, Callable 1/25/27 @ 100		3,086,858
	275,000	Republic of Colombia, 4.50%, 3/15/29, Callable 12/15/28 @ 100		235,863
	567,000	Republic of Colombia, 3.00%, 1/30/30, Callable 10/30/29 @ 100^		428,637
	581,000	Republic of Indonesia, 4.10%, 4/24/28		571,573
	2,840,000	Republic of Indonesia, 2.85%, 2/14/30		2,531,161
	327,000	Republic of Panama, 4.00%, 9/22/24, Callable 6/22/24 @ 100		325,774
	820,000	Republic of Panama, 3.88%, 3/17/28, Callable 12/17/27 @ 100		777,975
	540,000	Republic of Panama, 4.50%, 5/15/47		444,150
	1,091,000	Republic of Peru, 4.13%, 8/25/27		1,067,762
	1,031,000	Republic of Peru, 5.63%, 11/18/50		1,065,815
	3,200,000	Republic of Philippines, 3.00%, 2/1/28		3,031,680
	124,000	Romanian Government International Bond, 5.25%, 11/25/27(a)		118,432
	114,000	Romanian Government International Bond, 3.63%, 3/27/32(a)		90,100
	236,000	Romanian Government International Bond, 4.00%, 2/14/51(a)		155,051
	212,000	Saudi Government International Bond, 2.75%, 2/3/32(a)		189,450
	200,000	Saudi Government International Bond, 5.00%, 4/17/49(a)		197,018


Principal Amount			Value
Yankee Debt Obligations, continued
Sovereign Bond, continued
$	1,165,264	Uruguay Government International Bond, 4.38%, 1/23/31, Callable 10/23/30 @ 100	$	1,174,003

				29,219,584

Tech Hardware & Semiconductors (0.4%):
	1,077,000	NXP BV/NXP Funding LLC/NXP USA, Inc., 3.15%, 5/1/27, Callable 3/1/27 @ 100		1,000,711
	4,280,000	NXP BV/NXP Funding LLC/NXP USA, Inc., 4.30%, 6/18/29, Callable 3/18/29 @ 100		4,090,255
	372,000	NXP BV/NXP Funding LLC/NXP USA, Inc., 3.40%, 5/1/30, Callable 2/1/30 @ 100		331,518
	1,164,000	NXP BV/NXP Funding LLC/NXP USA, Inc., 2.50%, 5/11/31, Callable 2/11/31 @ 100		956,127
	48,000	NXP BV/NXP Funding LLC/NXP USA, Inc., 3.25%, 11/30/51, Callable 5/30/51 @ 100		33,574

				6,412,185

Transportation Infrastructure (0.0%^†):
	270,000	Adani Ports & Special Economic Zone, Ltd., 3.38%, 7/24/24(a)		262,881

Utilities (0.0%^†):
	200,000	Comision Federal de Electricidad, 4.88%, 1/15/24^(a)		199,122
	285,000	Israel Electric Corp., Ltd., 4.25%, 8/14/28, MTN		274,813

				473,935

Wireless Telecommunication Services (0.2%):
	280,000	Bharti Airtel, Ltd., 3.25%, 6/3/31, Callable 3/5/31 @ 100(a)		236,891
	3,243,000	Rogers Communications, Inc., 3.80%, 3/15/32, Callable 12/15/31 @ 100(a)		2,978,605
	1,221,000	Rogers Communications, Inc., 4.55%, 3/15/52, Callable 9/15/51 @ 100(a)		1,076,037

				4,291,533

	Total Yankee Debt Obligations (Cost $109,820,711)			97,791,420

Municipal Bonds (0.6%):
California (0.3%):
	905,000	California State University Revenue, Series B, 2.72%, 11/1/52		678,116
	600,000	California State, Build America Bonds, GO, 7.55%, 4/1/39		816,624
	2,550,000	City of San Francisco CA Public Utilities Commission Water Revenue, 2.83%, 11/1/41, Continuously Callable @100		2,039,133
	1,240,000	Los Angeles Department of Water & Power Power System Revenue, 6.57%, 7/1/45		1,622,664
	645,000	Regents of the University of California Medical Center Pooled Revenue, 4.13%, 5/15/32, Continuously Callable @100		639,608
	347,000	University of California Revenue, 4.77%, 5/15/15		322,648
	50,000	University of California Revenue, 4.86%, 5/15/12		47,282

				6,166,075

Michigan (0.0%^†):
	801,000	University of Michigan Revenue, 3.50%, 4/1/52, Continuously Callable @100		711,905

Minnesota (0.0%^†):
	406,000	University of Minnesota, 4.05%, 4/1/52		400,239


Principal Amount			Value
Municipal Bonds, continued
New Jersey (0.1%):
$	575,000	New Jersey State Transportation Authority Revenue, Build America Bonds, GO, 6.56%, 12/15/40	$	669,340
	270,000	New Jersey Transportation Trust Fund Authority Revenue, 4.13%, 6/15/42		246,359
	165,000	New Jersey Turnpike Authority Revenue, Series B, 2.78%, 1/1/40, Continuously Callable @100		129,718

				1,045,417

New York (0.2%):
	1,420,000	New York State Dormitory Authority Revenue, 2.15%, 3/15/31		1,169,995
	1,045,000	New York State Dormitory Authority Revenue, 2.05%, 3/15/30		908,565
	1,160,000	New York State Dormitory Authority Revenue, 5.00%, 2/15/31, Continuously Callable @100		1,330,125

				3,408,685

Texas (0.0%^†):
	710,000	City of Houston TX, GO, 3.96%, 3/1/47		671,326
	430,000	State of Texas, GO, Series B, 2.75%, 10/1/41, Continuously Callable @100		339,954

				1,011,280

	Total Municipal Bonds (Cost $14,333,861)			12,743,601

U.S. Government Agency Mortgages (31.3%):
Federal National Mortgage Association (17.0%)
	72,137	2.50%, 9/1/27, Pool #AB6194		69,073
	47,415	2.50%, 9/1/27, Pool #AP5205		45,586
	18,096	2.50%, 2/1/28, Pool #AB8446		17,682
	43,896	2.50%, 4/1/28, Pool #AB8870		43,021
	28,240	3.00%, 4/1/28, Pool #AT3121		27,883
	31,295	3.00%, 5/1/28, Pool #AT6033		30,899
	125,199	2.50%, 8/1/28, Pool #AS0190		122,700
	74,501	3.00%, 10/1/28, Pool #AU8774		73,555
	6,841	3.00%, 10/1/28, Pool #AQ4132		6,732
	145,940	3.50%, 10/1/28, Pool #AV0198		145,342
	8,080	3.00%, 11/1/28, Pool #AV0298		7,949
	272,126	3.50%, 11/1/28, Pool #AV1360		271,010
	179,204	3.00%, 4/1/29, Pool #AW0937		176,268
	152,930	3.00%, 5/1/29, Pool #AW2544		150,099
	258,308	3.00%, 6/1/29, Pool #AS2676		254,077
	59,910	3.00%, 7/1/29, Pool #AW1281		58,802
	355,675	3.00%, 7/1/29, Pool #AW4229		349,065
	513,971	3.00%, 9/1/29, Pool #AL6897		504,467
	165,906	3.00%, 9/1/29, Pool #AS3220		163,180
	64,260	3.50%, 9/1/29, Pool #AX0105		64,268
	99,630	3.00%, 10/1/29, Pool #AS3594		97,782
	21,622	3.50%, 10/1/29, Pool #AX2741		21,625
	370,592	3.00%, 1/1/30, Pool #AL6144		364,521
	2,605,000	3.75%, 1/15/30(c)		2,024,234
	47,799	2.50%, 2/1/30, Pool #BM3403		45,764
	14,138	2.50%, 2/1/30, Pool #AS4488		13,607
	12,798	2.50%, 2/1/30, Pool #AS4485		12,288
	75,637	3.00%, 3/1/30, Pool #AL6583		74,304
	98,574	2.50%, 3/1/30, Pool #AS4688		94,406
	61,374	3.00%, 4/1/30, Pool #AL6584		60,213
	40,506	2.50%, 4/1/30, Pool #AY3416		38,795
	35,594	3.00%, 5/1/30, Pool #AL6761		34,937


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	21,526	2.50%, 5/1/30, Pool #AY0828	$	20,639
	3,901,000	3.80%, 5/15/30(c)		2,993,042
	194,729	3.00%, 6/1/30, Pool #AL9381		191,178
	51,274	3.00%, 7/1/30, Pool #AL7139		50,305
	9,063	3.00%, 7/1/30, Pool #AZ2297		8,904
	24,229	2.50%, 7/1/30, Pool #AZ2170		23,207
	13,831	2.50%, 7/1/30, Pool #AS5405		13,280
	80,204	2.50%, 7/1/30, Pool #AS5403		77,219
	66,043	3.00%, 7/1/30, Pool #AX9701		64,791
	13,252	3.00%, 7/1/30, Pool #AX9700		13,018
	74,925	3.00%, 8/1/30, Pool #AL7227		73,601
	5,365	3.00%, 8/1/30, Pool #AZ8597		5,271
	12,558	3.00%, 8/1/30, Pool #AZ7833		12,335
	13,862	3.00%, 8/1/30, Pool #AX3298		13,617
	90,532	3.00%, 8/1/30, Pool #AL7225		88,819
	61,670	3.00%, 8/1/30, Pool #AS5622		60,506
	52,069	3.50%, 8/1/30, Pool #AS5708		51,926
	144,187	2.50%, 8/1/30, Pool #BM3552		138,131
	51,190	2.50%, 8/1/30, Pool #AS5614		49,027
	65,953	3.00%, 8/1/30, Pool #AS5623		64,787
	82,394	2.50%, 8/1/30, Pool #AS5616		79,114
	36,160	2.50%, 8/1/30, Pool #AS5548		34,823
	65,855	3.00%, 9/1/30, Pool #AS5728		64,695
	17,522	3.00%, 9/1/30, Pool #AL7320		17,197
	48,311	2.50%, 9/1/30, Pool #AS5786		46,512
	63,174	2.50%, 9/1/30, Pool #AS5872		60,498
	55,460	3.00%, 9/1/30, Pool #AS5714		54,406
	27,025	3.00%, 9/1/30, Pool #AZ5719		26,550
	60,855	2.50%, 11/1/30, Pool #AS6141		58,285
	50,565	2.50%, 11/1/30, Pool #AS6142		48,687
	52,977	2.50%, 11/1/30, Pool #AS6115		50,859
	47,038	2.50%, 11/1/30, Pool #AS6116		45,166
	7,945	2.50%, 11/1/30, Pool #AL7800		7,627
	928,050	3.00%, 1/1/31, Pool #BM3537		911,387
	77,156	2.50%, 3/1/31, Pool #BM1595		74,350
	93,019	2.50%, 6/1/31, Pool #AS7320		89,136
	154,213	2.50%, 7/1/31, Pool #AS7605		147,775
	159,158	2.50%, 7/1/31, Pool #AS7617		152,532
	6,025	2.50%, 8/1/31, Pool #BC2777		5,775
	16,882	4.00%, 8/1/31, Pool #AY4688		17,062
	36,666	4.00%, 8/1/31, Pool #AY4707		37,326
	1,105,529	3.00%, 8/1/31, Pool #AL9376		1,082,470
	103,504	3.00%, 9/1/31, Pool #AL9378		101,506
	377,860	2.50%, 10/1/31, Pool #AS8208		362,108
	662,969	2.50%, 10/1/31, Pool #AS8195		635,406
	265,802	2.50%, 10/1/31, Pool #AS8193		254,540
	1,300,904	2.50%, 10/1/31, Pool #BC4773		1,246,529
	52,699	2.00%, 10/1/31, Pool #MA2774		49,309
	203,199	2.50%, 10/1/31, Pool #AS8009		194,588
	110,921	2.50%, 11/1/31, Pool #AS8245		106,299
	141,144	2.50%, 11/1/31, Pool #AS8241		135,183
	225,236	2.50%, 11/1/31, Pool #AS8240		215,826
	263,290	2.00%, 11/1/31, Pool #AS8251		246,356
	306,139	2.00%, 11/1/31, Pool #BM3054		286,445
	88,762	2.00%, 11/1/31, Pool #BC9040		83,036
	128,127	2.50%, 11/1/31, Pool #BC2628		122,767
	92,361	2.50%, 11/1/31, Pool #BC2629		88,515
	207,210	2.50%, 11/1/31, Pool #BC2631		199,179


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	16,243	2.00%, 11/1/31, Pool #AS8291	$	15,198
	73,315	2.00%, 12/1/31, Pool #MA2845		68,596
	19,751	2.50%, 2/1/32, Pool #BM1036		18,988
	12,093	3.00%, 2/1/32, Pool #BE5670		11,845
	217,410	2.50%, 3/1/32, Pool #AS9316		208,483
	482,923	2.00%, 3/1/32, Pool #BM3061		451,762
	298,564	3.00%, 3/1/32, Pool #AS9327		292,412
	204,600	2.50%, 3/1/32, Pool #AS9317		195,876
	362,801	2.50%, 3/1/32, Pool #AS9321		347,602
	382,550	2.50%, 3/1/32, Pool #AS9319		370,461
	344,336	2.50%, 3/1/32, Pool #AS9318		331,231
	1,521,077	3.50%, 4/1/32, Pool #BM3503		1,518,175
	2,060,000	Class A2 , Series 2022-M1S2.08%, 4/25/32		1,792,440
	1,101,940	3.50%, 5/1/32, Pool #BM1602		1,101,004
	1,566,865	3.00%, 6/1/32, Pool #BM1791		1,534,739
	467,447	2.50%, 8/1/32, Pool #BM3578		449,658
	184,071	3.00%, 9/1/32, Pool #BM3240		180,826
	59,747	3.50%, 11/1/32, Pool #BJ2054		59,633
	36,829	3.50%, 1/1/33, Pool #BJ2096		36,844
	62,729	5.50%, 1/1/33, Pool #676661		66,200
	921,842	2.50%, 2/1/33, Pool #BM3793		882,870
	43,428	5.50%, 5/1/33, Pool #555424		46,659
	2,036,520	3.00%, 5/1/33, Pool #FM1880		2,003,100
	52,876	4.00%, 9/1/33, Pool #BK7642		53,656
	173,058	4.00%, 10/1/33, Pool #CA2527		175,446
	175,369	4.00%, 11/1/33, Pool #CA2555		178,549
	337,871	2.50%, 12/1/33, Pool #FM1680		327,235
	3,430,000	Class A3 , Series 2022-M52.47%, 1/1/34		3,000,020
	106,039	5.50%, 2/1/35, Pool #735989		113,924
	312,154	5.00%, 2/1/35, Pool #735226		326,348
	25,409	5.00%, 3/1/35, Pool #735288		26,591
	9,986	6.00%, 4/1/35, Pool #735504		10,268
	186,440	3.00%, 8/1/35, Pool #CA6849		183,464
	183,960	3.00%, 8/1/35, Pool #CA6876		180,355
	49,407	5.00%, 9/1/35, Pool #889974		51,590
	56,025	3.00%, 12/1/35, Pool #CA8391		54,862
	1,022,840	2.50%, 12/1/35, Pool #CA8387		979,092
	1,139,885	2.50%, 12/1/35, Pool #CA8388		1,094,977
	115,656	3.00%, 12/1/35, Pool #CA8389		113,378
	119,898	4.00%, 1/1/36, Pool #AB0686		123,754
	244,732	5.50%, 9/1/36, Pool #995113		262,939
	26,632	3.00%, 10/1/36, Pool #AL9227		24,893
	218,677	3.00%, 11/1/36, Pool #AS8348		204,261
	87,364	3.00%, 11/1/36, Pool #AS8349		85,214
	204,956	3.00%, 12/1/36, Pool #BE1896		200,690
	284,341	3.00%, 12/1/36, Pool #AS8553		277,339
	2,188,000	2.50%, 7/25/37, TBA		2,092,275
	9,233,000	1.50%, 7/25/37, TBA		8,400,587
	25,032,000	2.00%, 7/25/37, TBA		23,389,275
	12,003	5.50%, 2/1/38, Pool #961545		12,692
	8,685	6.00%, 3/1/38, Pool #889529		9,274
	56,186	5.50%, 5/1/38, Pool #889692		60,690
	49,330	5.50%, 5/1/38, Pool #889441		51,767
	24,810	6.00%, 5/1/38, Pool #889466		26,492
	36,770	5.50%, 6/1/38, Pool #995018		39,714
	10,607	5.50%, 9/1/38, Pool #889995		11,456
	26,080	6.00%, 10/1/38, Pool #889983		29,762
	150,505	5.50%, 1/1/39, Pool #AB0200		160,689


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	45,675	4.50%, 4/1/39, Pool #930922	$	46,950
	39,298	3.50%, 5/1/39, Pool #MA3660		38,699
	61,765	4.50%, 5/1/39, Pool #AL1472		64,041
	594,604	5.00%, 6/1/39, Pool #AL7521		620,867
	398,319	6.00%, 7/1/39, Pool #BF0056		417,814
	26,679	5.50%, 10/1/39, Pool #AD0362		28,225
	26,350	5.50%, 12/1/39, Pool #AD0571		29,040
	163,472	3.50%, 12/1/39, Pool #MA3869		159,472
	202,624	5.50%, 12/1/39, Pool #AC6680		214,385
	73,088	3.50%, 1/1/40, Pool #MA3891		71,300
	2,661,359	4.50%, 1/1/40, Pool #AC8568		2,749,389
	123,434	3.50%, 2/1/40, Pool #MA3935		119,878
	22,829	5.50%, 3/1/40, Pool #AL5304		25,330
	20,460	4.50%, 4/1/40, Pool #AD4038		20,933
	170,397	6.00%, 4/1/40, Pool #AL4141		190,056
	32,449	6.50%, 5/1/40, Pool #AL1704		33,748
	35,055	4.50%, 7/1/40, Pool #AB1226		36,222
	44,979	4.50%, 7/1/40, Pool #AD7127		46,214
	20,377	6.00%, 9/1/40, Pool #AE0823		22,137
	2,680,000	Class CY , Series 2010-1364.00%, 12/25/40		2,675,132
	19,976	4.00%, 1/1/41, Pool #AL7167		20,092
	3,112,572	Class ZA , Series 2011-84.00%, 2/25/41		3,138,479
	42,049	6.00%, 6/1/41, Pool #AL4142		43,375
	15,680	4.50%, 7/1/41, Pool #AB3314		16,087
	274,889	5.00%, 7/1/41, Pool #AL7524		292,067
	28,148	4.50%, 9/1/41, Pool #AI8961		28,885
	510,414	5.50%, 9/1/41, Pool #AL8430		551,333
	15,400,351	1.50%, 11/1/41, Pool #FS0316		13,110,336
	2,470,268	2.00%, 12/1/41, Pool #MA4501		2,197,024
	7,841,414	1.50%, 12/1/41, Pool #MA4500		6,667,175
	143,541	3.50%, 1/1/42, Pool #AW8154		140,163
	640,432	4.00%, 1/1/42, Pool #AB4307		647,740
	623,466	2.00%, 2/1/42, Pool #MA4540		557,375
	920,956	2.00%, 3/1/42, Pool #MA4586		823,311
	5,989,843	2.00%, 3/1/42, Pool #MA4570		5,354,827
	24,112	3.50%, 4/1/42, Pool #AK7510		23,585
	56,652	3.50%, 4/1/42, Pool #AO0777		54,567
	124,231	4.00%, 5/1/42, Pool #AO2961		122,921
	34,909	4.00%, 5/1/42, Pool #A02114		34,542
	10,239	3.50%, 5/1/42, Pool #AO2881		10,020
	10,115	3.50%, 6/1/42, Pool #AO3048		9,894
	13,419	3.50%, 6/1/42, Pool #AK9225		13,129
	28,307	3.50%, 7/1/42, Pool #AO9707		27,694
	126,455	4.50%, 9/1/42, Pool #AL2482		130,298
	761,185	4.50%, 1/1/43, Pool #AL8206		786,402
	46,927	3.00%, 3/1/43, Pool #AR7568		44,639
	57,529	3.00%, 3/1/43, Pool #AR7576		53,754
	67,538	3.00%, 3/1/43, Pool #AR9218		63,170
	24,242	3.00%, 4/1/43, Pool #AT2037		23,057
	68,880	3.00%, 4/1/43, Pool #AR8630		64,429
	56,696	3.00%, 4/1/43, Pool #AB8924		52,951
	62,984	3.00%, 4/1/43, Pool #AT2043		58,868
	61,825	3.00%, 4/1/43, Pool #AB8923		57,811
	658	3.50%, 4/1/43, Pool #CA1530		641
	92,961	3.00%, 4/1/43, Pool #AT2040		86,927
	7,971	3.00%, 6/1/43, Pool #AB9564		7,552
	510,185	5.00%, 12/1/43, Pool #AL7777		537,579
	260,774	5.00%, 11/1/44, Pool #AL8878		263,647


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	211,485	3.50%, 2/1/45, Pool #BM1100	$	205,073
	646,330	3.50%, 2/1/45, Pool #FM5294		637,760
	145,524	5.00%, 6/1/45, Pool #BM3784		153,826
	105,689	4.50%, 9/1/45, Pool #AL7936		111,100
	2,876,332	3.50%, 9/1/45, Pool #FM3224		2,830,336
	3,023	4.50%, 11/1/45, Pool #AS6233		3,068
	5,891,795	3.50%, 11/1/45, Pool #FM6411		5,775,396
	60,310	4.50%, 11/1/45, Pool #AL9501		63,740
	148,855	4.50%, 12/1/45, Pool #BM1756		154,039
	15,600	3.00%, 6/1/46, Pool #AS7365		14,783
	980,438	3.50%, 7/1/46, Pool #BA7748		973,711
	356,836	4.50%, 7/1/46, Pool #BM3053		379,691
	450,002	4.50%, 7/1/46, Pool #BM1920		474,177
	19,488	3.00%, 8/1/46, Pool #AL9031		18,530
	646,032	Class UF , Series 2016-482.02%(US0001M+40bps), 8/25/46		642,531
	1,030,041	3.00%, 9/1/46, Pool #BD1469		971,188
	224,614	3.00%, 11/1/46, Pool #BD9645		210,367
	291,927	3.00%, 11/1/46, Pool #BD9644		272,946
	116,770	3.00%, 11/1/46, Pool #BD9643		109,100
	243,403	3.50%, 12/1/46, Pool #BE2103		235,454
	1,013,895	3.00%, 12/1/46, Pool #AS8486		955,578
	374,592	3.50%, 2/1/47, Pool #BE1534		361,211
	885,739	3.50%, 2/1/47, Pool #AL9920		856,884
	72,945	3.50%, 3/1/47, Pool #BH0158		70,336
	522,932	3.50%, 5/1/47, Pool #BD2417		504,378
	181,769	3.50%, 5/1/47, Pool #BE9375		175,272
	315,106	4.00%, 5/1/47, Pool #BH0398		312,872
	395,319	3.50%, 5/1/47, Pool #BM1174		384,783
	143,137	3.50%, 6/1/47, Pool #BH0567		138,037
	234,416	4.00%, 7/1/47, Pool #BH3401		232,780
	341,081	4.00%, 8/1/47, Pool #BM1619		338,683
	23,078	4.00%, 9/1/47, Pool #MA3121		23,097
	173,993	4.50%, 10/1/47, Pool #BM3052		177,210
	709,558	3.50%, 11/1/47, Pool #MA3182		692,901
	203,402	4.50%, 12/1/47, Pool #BH7067		206,301
	428,962	3.50%, 1/1/48, Pool #MA3238		418,892
	1,539,424	3.50%, 1/1/48, Pool #FM5293		1,495,141
	69,808	4.00%, 2/1/48, Pool #BJ9057		69,468
	330,642	3.50%, 2/1/48, Pool #BH9277		322,360
	100,217	4.00%, 2/1/48, Pool #BJ9058		99,686
	140,486	3.50%, 3/1/48, Pool #BK1958		136,992
	409,759	3.50%, 3/1/48, Pool #BJ4916		399,522
	218,611	3.50%, 3/1/48, Pool #BJ0648		213,145
	258,209	3.50%, 4/1/48, Pool #FM5295		254,878
	169,710	4.50%, 4/1/48, Pool #BM3846		175,702
	4,010,059	4.50%, 4/1/48, Pool #FM7783		4,076,046
	41,306	4.00%, 4/1/48, Pool # MA3333		41,239
	14,619	3.50%, 5/1/48, Pool #MA3356		14,253
	47,519	4.00%, 5/1/48, Pool #CA2708		47,442
	2,315,274	4.50%, 5/1/48, Pool #CA1704		2,347,626
	34,011	4.00%, 6/1/48, Pool # MA3384		33,956
	190,427	5.00%, 6/1/48, Pool #CA2317		196,742
	81,320	4.50%, 7/1/48, Pool #BK6113		84,012
	14,895	4.50%, 7/1/48, Pool #BK4471		15,106
	34,095	4.00%, 7/1/48, Pool #MA3415		34,040
	800,205	5.00%, 9/1/48, Pool #MA3472		826,472
	59,995	5.00%, 10/1/48, Pool #MA3501		61,963


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	100,460	4.00%, 10/1/48, Pool #CA2469	$	99,301
	144,070	5.00%, 10/1/48, Pool #BK7881		148,796
	110,184	5.00%, 11/1/48, Pool #MA3527		113,798
	9,730	3.50%, 11/1/48, Pool #FM1543		9,491
	38,874	5.00%, 12/1/48, Pool #BN4404		39,838
	114,339	5.00%, 1/1/49, Pool #BN3949		118,102
	42,198	5.00%, 1/1/49, Pool #BN4430		43,258
	1,398,790	4.00%, 1/1/49, Pool #FM5296		1,395,238
	305,349	3.50%, 6/1/49, Pool #FM5315		297,944
	927,846	4.00%, 9/1/49, Pool #FM3665		917,148
	710,616	3.50%, 12/1/49, Pool #MA3210		693,930
	449,908	4.00%, 3/1/50, Pool #CA5368		445,138
	5,320,104	3.00%, 3/1/50, Pool #FM5290		5,006,995
	375,790	4.00%, 5/1/50, Pool #FM7973		373,803
	499,382	4.00%, 6/1/50, Pool #CA6106		494,539
	3,249,816	2.50%, 7/1/50, Pool #CA6341		2,956,407
	3,216,509	2.50%, 7/1/50, Pool #CA6342		2,926,149
	3,256,171	2.50%, 7/1/50, Pool #CA6343		2,962,085
	1,906,785	2.50%, 7/1/50, Pool #CA6359		1,738,487
	1,969,103	3.00%, 8/1/50, Pool #FM5292		1,851,311
	313,445	4.00%, 8/1/50, Pool #FM7703		312,554
	943,764	2.50%, 8/1/50, Pool #CA6711		858,586
	3,120,604	2.50%, 8/1/50, Pool #CA6636		2,838,849
	3,776,613	2.50%, 8/1/50, Pool #CA6577		3,435,357
	1,321,558	2.00%, 9/1/50, Pool #MA4119		1,148,630
	415,298	2.00%, 9/1/50, Pool #BQ0697		360,948
	2,375,010	2.00%, 10/1/50, Pool #MA4158		2,064,161
	337,026	2.00%, 11/1/50, Pool #BQ6334		292,883
	2,158,848	2.50%, 11/1/50, Pool #CA7597		1,968,336
	621,685	2.50%, 11/1/50, Pool #FM4874		566,897
	461,237	2.00%, 12/1/50, Pool #FM5305		400,897
	1,460,705	2.00%, 12/1/50, Pool #FM5176		1,280,614
	1,926,933	4.00%, 1/1/51, Pool #FM7031		1,920,278
	549,875	2.50%, 1/1/51, Pool #CA8592		500,184
	16,372,004	3.50%, 1/1/51, Pool #FM7599		15,911,948
	1,566,698	2.50%, 2/1/51, Pool #CA9038		1,421,535
	2,893,144	2.00%, 2/1/51, Pool #BR1615		2,513,208
	525,134	2.00%, 3/1/51, Pool #BN9004		456,587
	2,111,523	4.00%, 3/1/51, Pool #FM7460		2,104,888
	947,924	2.00%, 3/1/51, Pool #BN8997		824,361
	197,091	2.50%, 3/1/51, Pool #BR4654		177,851
	717,634	2.00%, 4/1/51, Pool #BR7241		624,453
	1,363,900	2.00%, 4/1/51, Pool #FM6863		1,185,441
	242,075	2.50%, 4/1/51, Pool #BR8896		218,366
	331,834	2.00%, 4/1/51, Pool #FS0599		288,435
	140,781	2.50%, 4/1/51, Pool #BR8283		127,275
	900,111	2.00%, 4/1/51, Pool #BR7802		782,776
	124,874	2.50%, 5/1/51, Pool #BR8915		112,654
	5,180,825	4.00%, 5/1/51, Pool #FS1463		5,170,804
	73,485	2.50%, 5/1/51, Pool #BR8296		66,403
	2,316,218	2.50%, 5/1/51, Pool #CB0383		2,106,585
	6,756,590	3.00%, 6/1/51, Pool #CB0848		6,325,994
	217,417	2.50%, 7/1/51, Pool #BP3574		196,115
	11,030,361	2.00%, 8/1/51, Pool #CB1309		9,583,031
	9,310,527	2.00%, 8/1/51, Pool #CB1310		8,088,855
	641,000	5.00%, 8/25/51, TBA		652,518
	15,284,000	4.00%, 8/25/51		15,051,158
	772,885	2.50%, 10/1/51, Pool #CB1806		697,339


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	72,421	2.50%, 10/1/51, Pool #BT8452	$	65,322
	2,473,375	2.00%, 11/1/51, Pool #CB2079		2,148,905
	1,302,092	2.00%, 11/1/51, Pool #CB2139		1,131,281
	2,686,643	2.00%, 11/1/51, Pool #CB2054		2,334,343
	1,037,247	2.50%, 11/1/51, Pool #FS0026		936,955
	2,372,075	2.00%, 11/1/51, Pool #FM9538		2,061,121
	1,144,118	2.00%, 11/1/51, Pool #FM9452		996,680
	319,790	2.00%, 11/1/51, Pool #MA4465		277,820
	3,262,000	2.00%, 11/1/51, Pool #FS1334		2,834,881
	2,821,329	3.00%, 11/1/51, Pool #CB2165		2,643,344
	588,382	2.50%, 12/1/51, Pool #CB2372		530,850
	330,631	2.00%, 12/1/51, Pool #FS0598		288,162
	1,695,216	2.00%, 12/1/51, Pool #FS0211		1,472,949
	6,960,834	2.00%, 12/1/51, Pool #MA4492		6,047,067
	1,715,662	2.00%, 12/1/51, Pool #FS0212		1,490,786
	1,259,154	3.00%, 12/1/51, Pool #CB2418		1,179,860
	737,131	2.00%, 12/1/51, Pool #FM9730		640,419
	1,114,715	2.00%, 12/1/51, Pool #FM9925		969,563
	1,532,715	2.00%, 1/1/52, Pool #CB2601		1,333,082
	3,181,158	2.50%, 1/1/52, Pool #FS0209		2,869,634
	2,551,972	2.50%, 1/1/52, Pool #FS0208		2,302,951
	1,201,646	2.50%, 1/1/52, Pool #CB2633		1,087,008
	2,069,432	2.00%, 1/1/52, Pool #FS0497		1,802,504
	2,858,046	2.50%, 1/1/52, Pool #FS0378		2,605,025
	1,343,369	2.00%, 1/1/52, Pool #FS0290		1,168,462
	2,548,405	2.50%, 1/1/52, Pool #CB2621		2,301,346
	2,095,820	2.50%, 1/1/52, Pool #CB2620		1,893,919
	848,045	2.00%, 1/1/52, Pool #FS1406		737,242
	1,911,348	2.50%, 1/1/52, Pool #FS0193		1,724,154
	3,853,241	2.50%, 1/1/52, Pool #CB2622		3,477,049
	607,088	2.50%, 2/1/52, Pool #CB2854		548,573
	34,493,131	2.00%, 2/1/52, Pool #FS2040		29,972,441
	1,797,800	2.00%, 2/1/52, Pool #CB2837		1,561,879
	794,297	2.00%, 2/1/52, Pool #CB2836		690,021
	2,567,056	2.50%, 2/1/52, Pool #CB2856		2,316,478
	3,987,730	2.00%, 2/1/52, Pool #CB2838		3,464,293
	423,738	2.50%, 2/1/52, Pool #CB2863		383,285
	2,159,864	2.50%, 2/1/52, Pool #CB2855		1,950,357
	948,655	2.00%, 2/1/52, Pool #FS0646		824,162
	1,000,377	2.50%, 3/1/52, Pool #FS1661		911,918
	312,995	3.00%, 3/1/52, Pool #CB3115		293,240
	1,699,056	2.00%, 3/1/52, Pool #CB3105		1,475,932
	4,492,506	2.00%, 3/1/52, Pool #CB3102		3,902,729
	2,454,813	2.00%, 3/1/52, Pool #CB3101		2,132,536
	912,900	3.00%, 4/1/52, Pool #FS1520		855,859
	5,159,405	4.00%, 5/1/52, Pool #FS1133		5,145,051
	1,436,439	3.00%, 5/1/52, Pool #FS1522		1,344,417
	9,231,300	1.50%, 7/25/52, TBA		7,657,652
	979,000	3.50%, 7/25/52, TBA		941,676
	1,428,000	4.00%, 7/25/52, TBA		1,408,811
	770,000	4.50%, 7/25/52, TBA		773,248
	3,743,000	3.00%, 7/25/52, TBA		3,490,932
	1,318,055	3.50%, 8/25/52, TBA		1,266,363

				385,927,730

Federal Home Loan Mortgage Corporation (8.4%)
	3,358,351	Class A2 , Series KC023.37%, 7/25/25		3,333,163
	90,807	3.00%, 9/1/27, Pool #U70060		88,939
	53,876	3.00%, 7/1/28, Pool #U79018		52,909


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal Home Loan Mortgage Corporation, continued
$	591,000	3.73%, 9/15/29(c)	$	464,391
	4,510,000	Class XFX , Series KL061.36%, 12/25/29		327,832
	28,165	3.00%, 1/1/30, Pool #V60724		27,677
	22,433	3.00%, 1/1/30, Pool #V60696		22,015
	47,648	2.50%, 3/1/30, Pool #V60770		45,801
	103,879	3.00%, 5/1/30, Pool #J31689		102,276
	52,833	2.50%, 5/1/30, Pool #J31418		50,975
	75,419	2.50%, 5/1/30, Pool #V60796		72,484
	116,424	2.50%, 5/1/30, Pool #J31728		111,917
	201,053	3.00%, 6/1/30, Pool #V60840		197,508
	17,701	2.50%, 7/1/30, Pool #J32209		17,078
	12,915	3.00%, 7/1/30, Pool #J32181		12,717
	5,185	2.50%, 7/1/30, Pool #V60905		4,983
	95,591	3.00%, 7/1/30, Pool #G15520		94,060
	4,594	2.50%, 7/1/30, Pool #J32491		4,414
	18,434	2.50%, 7/1/30, Pool #J32204		17,824
	13,364	3.00%, 8/1/30, Pool #J32436		13,148
	21,120	3.00%, 8/1/30, Pool #V60909		20,749
	71,680	2.50%, 8/1/30, Pool #V60902		69,073
	82,873	2.50%, 8/1/30, Pool #V60886		79,866
	64,619	2.50%, 9/1/30, Pool #V60903		62,290
	206,134	2.50%, 9/1/30, Pool #V60904		198,094
	7,238,915	Class X1 , Series K1211.12%, 10/25/30, Callable 7/25/30 @ 100.00		470,457
	197,000	3.91%, 3/15/31(c)		146,466
	190,000	6.75%, 3/15/31		238,680
	354,624	2.50%, 4/1/31, Pool #G16186		341,157
	570,000	Class A2 , Series K1422.40%, 3/25/32		513,673
	2,300,000	Class A2 , Series K1442.45%, 4/25/32		2,080,281
	1,740,000	Class A2 , Series WI-K1462.92%, 7/25/32		1,634,121
	6,746	3.00%, 10/1/32, Pool #J37706		6,657
	9,448	3.00%, 11/1/32, Pool #J37835		9,321
	7,016	3.00%, 12/1/32, Pool #J38060		6,922
	2,382,685	2.50%, 4/1/33, Pool #ZS8087		2,304,032
	115,269	3.50%, 1/1/34, Pool #ZS9068		114,896
	71,754	5.50%, 2/1/35, Pool #G04692		73,001
	432,250	3.50%, 5/1/35, Pool #SC0063		416,338
	48,553	3.00%, 9/1/37, Pool #ZA2471		46,326
	1,003,553	3.00%, 6/1/38, Pool #SC0111		954,440
	114,027	6.00%, 4/1/39, Pool #G07613		131,497
	16,002	4.50%, 12/1/39, Pool #A90196		16,336
	502,455	3.50%, 1/1/40, Pool #RB5028		489,779
	63,576	3.50%, 2/1/40, Pool #RB5034		61,965
	16,384	4.50%, 7/1/40, Pool #A93010		16,752
	17,866	4.00%, 8/1/40, Pool #A93534		18,075
	125,250	4.00%, 9/1/40, Pool #A93851		126,039
	338,869	4.50%, 9/1/40, Pool #A93700		347,474
	27,235	4.00%, 10/1/40, Pool #A95923		27,553
	16,409	4.00%, 11/1/40, Pool #A95144		16,597
	17,328	4.00%, 11/1/40, Pool #A94977		17,530
	16,629	4.00%, 11/1/40, Pool #A94779		16,823
	1,106	4.00%, 4/1/41, Pool #Q00093		1,121
	46,992	4.50%, 5/1/41, Pool #Q00959		48,561
	39,322	4.50%, 5/1/41, Pool #Q00804		40,631
	249,530	Class FL , Series 42481.77%(US0001M+45bps), 5/15/41		249,510
	278,618	5.50%, 6/1/41, Pool #G07553		299,926
	58,071	5.00%, 10/1/41, Pool #G07642		60,546


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal Home Loan Mortgage Corporation, continued
$	20,024	4.00%, 10/1/41, Pool #Q03841	$	20,199
	27,783	4.00%, 10/1/41, Pool #Q04022		28,028
	379,279	2.00%, 2/1/42, Pool #RB5145		339,072
	1,981,448	2.00%, 3/1/42, Pool #RB5148		1,771,365
	150,636	3.50%, 4/1/42, Pool #C03811		147,498
	392,795	2.00%, 4/1/42, Pool #RB5153		351,143
	131,929	3.50%, 4/1/42, Pool #Q07417		129,178
	4,397	3.50%, 5/1/42, Pool #Q08306		4,306
	12,847	3.50%, 5/1/42, Pool #Q08239		12,580
	18,922	3.50%, 8/1/42, Pool #Q12162		18,529
	119,824	3.50%, 8/1/42, Pool #G07106		117,341
	7,115	3.50%, 10/1/42, Pool #Q11909		6,938
	180,950	3.00%, 1/1/43, Pool #Q14866		173,319
	73,737	3.00%, 3/1/43, Pool #Q16403		70,009
	135,400	3.00%, 3/1/43, Pool #Q16673		128,458
	78,205	3.50%, 6/1/43, Pool #Q18718		76,034
	128,981	3.50%, 7/1/43, Pool #Q20206		125,107
	53,615	4.00%, 9/1/43, Pool #Q21579		53,851
	173,565	4.50%, 12/1/43, Pool #Q23779		177,063
	107,214	4.50%, 12/1/43, Pool #G60018		108,927
	13,554	3.50%, 1/1/44, Pool #Q24368		13,148
	1,006,735	Class XZ , Series 43164.50%, 3/15/44		1,059,254
	57,269	4.00%, 4/1/44, Pool #Q25643		57,303
	599,901	3.50%, 4/1/44, Pool #G07848		583,662
	1,065,041	Class ZX , Series 43524.00%, 4/15/44		1,072,256
	15,118	3.50%, 5/1/44, Pool #Q26218		14,866
	71,740	3.50%, 6/1/44, Pool #Q28764		70,250
	1,963,805	3.00%, 6/1/44, Pool #SD0498		1,845,002
	55,911	4.00%, 7/1/44, Pool #G60901		56,419
	13,227	3.50%, 7/1/44, Pool #Q27319		13,006
	22,054	3.50%, 9/1/44, Pool #Q28604		21,684
	2,065,032	3.50%, 9/1/44, Pool #SD0481		2,035,837
	1,987,631	4.00%, 1/1/45, Pool #SD0478		2,001,504
	2,273,554	4.00%, 1/1/45, Pool #SD0490		2,274,756
	16,633	4.00%, 2/1/45, Pool #Q31338		16,755
	7,155	4.00%, 2/1/45, Pool #Q31128		7,208
	15,910	3.50%, 9/1/45, Pool #Q36302		15,655
	3,031,184	4.00%, 9/1/45, Pool #SD0507		3,091,597
	23,170	4.00%, 12/1/45, Pool #Q37955		23,342
	19,742	4.00%, 12/1/45, Pool #Q37957		19,856
	1,372,175	3.50%, 3/1/46, Pool #SD0485		1,346,837
	441,271	Class FB , Series 46061.82%(US0001M+50bps), 8/15/46		441,233
	681,444	3.00%, 9/1/46, Pool #Q42979		638,392
	260,880	3.50%, 9/1/46, Pool #SD0486		256,000
	244,648	3.00%, 9/1/46, Pool #G60718		229,250
	70,839	3.00%, 12/1/46, Pool #Q45083		67,091
	144,911	3.00%, 12/1/46, Pool #Q45080		137,430
	262,153	3.00%, 12/1/46, Pool #Q45064		245,580
	844,370	3.00%, 12/1/46, Pool #V82781		792,067
	702,427	3.00%, 2/1/47, Pool #SD0496		660,412
	411,768	3.50%, 3/1/47, Pool #G60968		423,168
	731,636	4.00%, 7/1/47, Pool #SD0504		738,756
	954,040	4.50%, 7/1/47, Pool #G61047		974,013
	382,835	3.50%, 10/1/47, Pool #G61178		373,240
	487,826	3.50%, 12/1/47, Pool #G61208		475,602
	99,647	3.50%, 1/1/48, Pool #Q53648		96,958
	432,743	3.50%, 1/1/48, Pool #ZS4751		422,594


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal Home Loan Mortgage Corporation, continued
$	66,612	3.50%, 1/1/48, Pool #Q53630	$	64,941
	436,385	3.50%, 2/1/48, Pool #ZT1353		426,465
	668,658	4.00%, 4/1/48, Pool #SD0489		679,287
	3,183,193	4.00%, 8/1/48, Pool #SD0492		3,179,960
	1,082,599	4.50%, 8/1/48, Pool #G67715		1,120,751
	2,529,944	4.00%, 5/1/49, Pool #SD0488		2,510,316
	552,094	2.50%, 7/1/50, Pool #QB1193		498,347
	13,796	3.00%, 7/1/50, Pool #QB1488		12,987
	32,184	3.00%, 7/1/50, Pool #QB1486		30,298
	114,556	3.00%, 7/1/50, Pool #QB1479		107,658
	13,590	3.00%, 7/1/50, Pool #QB1158		13,017
	906,604	3.00%, 8/1/50, Pool #RA3282		855,995
	94,601	3.00%, 8/1/50, Pool #QB2339		89,076
	302,854	2.00%, 8/1/50, Pool #QB2296		265,511
	896,761	3.00%, 8/1/50, Pool #RA3313		840,138
	6,016,424	3.00%, 9/1/50, Pool #SD0592		5,687,600
	664,467	2.00%, 11/1/50, Pool #SD7528		577,576
	1,172,565	3.00%, 12/1/50, Pool #SD0519		1,100,440
	999,688	4.00%, 12/1/50, Pool #SD0520		1,011,893
	4,189,280	2.50%, 2/1/51, Pool #SD7534		3,819,769
	5,697,018	2.00%, 3/1/51, Pool #SD8134		4,950,974
	2,187,262	2.00%, 4/1/51, Pool #SD7539		1,919,287
	2,625,905	2.50%, 5/1/51, Pool #SD0702		2,398,122
	1,173,966	2.00%, 5/1/51, Pool #SD7541		1,020,988
	9,187,580	2.50%, 5/1/51, Pool #RA5077		8,367,497
	1,275,077	3.00%, 7/1/51, Pool #SD7544		1,196,798
	3,823,889	2.00%, 7/1/51, Pool #SD0716		3,323,489
	814,529	2.00%, 9/1/51, Pool #SD0730		707,885
	1,095,908	2.00%, 9/1/51, Pool #SD0732		952,110
	3,592,352	2.00%, 10/1/51, Pool #RA6071		3,121,318
	821,003	2.00%, 10/1/51, Pool #SD8172		713,285
	1,098,328	3.00%, 10/1/51, Pool #RA6015		1,028,070
	2,498,384	2.50%, 11/1/51, Pool #RA6397		2,257,947
	8,049,727	2.50%, 11/1/51, Pool #SD7548		7,310,536
	1,188,733	2.00%, 12/1/51, Pool #SD0786		1,032,701
	4,889,442	2.50%, 12/1/51, Pool #RA6388		4,412,549
	6,017,592	2.00%, 12/1/51, Pool #SD8182		5,227,811
	216,306	2.00%, 12/1/51, Pool #SD0789		188,273
	1,129,815	2.00%, 12/1/51, Pool #SD0785		981,625
	437,828	2.00%, 12/1/51, Pool #SD0783		380,378
	25,190,616	2.50%, 1/1/52, Pool #SD7552		22,774,153
	2,065,643	2.00%, 1/1/52, Pool #SD0894		1,794,844
	2,770,921	2.00%, 1/1/52, Pool #SD0892		2,407,493
	7,608,390	2.50%, 1/1/52, Pool #SD0923		6,871,120
	8,614,635	2.00%, 1/1/52, Pool #SD7549		7,485,404
	1,434,846	2.00%, 2/1/52, Pool #RA6768		1,246,283
	935,593	3.00%, 2/1/52, Pool #SD7550		879,045
	25,186,030	3.00%, 3/1/52, Pool #SD7553		23,691,924
	5,130,000	Class A2 , Series K1452.58%, 6/25/55, Callable 5/25/32 @ 100.00		4,691,642

				189,532,170

Government National Mortgage Association (5.7%)
	9,640	4.50%, 9/15/33, Pool #615516		10,174
	35,580	5.00%, 12/15/33, Pool #783571		37,990
	10,983	6.50%, 8/20/38, Pool #4223		12,535
	7,937	6.50%, 10/15/38, Pool #673213		8,521
	6,281	6.50%, 11/20/38, Pool #4292		7,171
	11,285	6.50%, 12/15/38, Pool #782510		12,136


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Government National Mortgage Association, continued
$	122,067	5.00%, 1/15/39, Pool #782557	$	129,100
	54,568	5.00%, 4/15/39, Pool #711939		58,075
	74,368	5.00%, 4/15/39, Pool #782619		79,104
	7,721	4.00%, 4/20/39, Pool #4422		7,805
	7,281	5.00%, 6/15/39, Pool #782696		7,746
	24,869	4.00%, 7/20/39, Pool #4494		25,141
	43,905	5.00%, 10/20/39, Pool #4559		46,950
	4,827	4.50%, 12/20/39, Pool #G24598		5,037
	12,558	4.50%, 1/15/40, Pool #728627		13,273
	5,885	4.50%, 1/20/40, Pool #4617		6,141
	4,819	4.50%, 2/20/40, Pool #G24636		5,164
	35,433	5.00%, 5/15/40, Pool #782958		37,679
	312	4.50%, 5/20/40, Pool #G24696		325
	21,766	5.00%, 6/15/40, Pool #697862		23,654
	233,110	4.50%, 7/15/40, Pool #733795		246,280
	29,796	4.50%, 7/15/40, Pool #745793		30,995
	12,079	4.50%, 7/20/40, Pool #4746		12,606
	22,195	4.50%, 8/20/40, Pool #4771		23,162
	13,706	4.50%, 9/20/40, Pool #748948		14,381
	6,566	4.00%, 9/20/40, Pool #G24800		6,688
	48,282	4.50%, 10/15/40, Pool #783609		50,654
	22,258	4.50%, 10/20/40, Pool #4834		23,229
	172,956	4.00%, 10/20/40, Pool #G24833		176,147
	324,133	4.00%, 11/20/40, Pool #4853		337,085
	158,416	4.00%, 12/20/40, Pool #G24882		161,341
	84,887	4.00%, 1/15/41, Pool #759138		87,351
	143,183	4.00%, 1/20/41, Pool #4922		145,827
	15,072	4.50%, 2/15/41, Pool #738019		15,846
	2,464	4.00%, 2/20/41, Pool #4945		2,509
	580,901	4.00%, 2/20/41, Pool #742887		582,981
	45,837	4.00%, 3/15/41, Pool #762838		47,161
	3,619	5.00%, 4/20/41, Pool #5018		3,853
	7,789	5.00%, 6/20/41, Pool #5083		8,292
	56,640	4.50%, 6/20/41, Pool #783590		57,551
	126,863	4.00%, 7/20/41, Pool #742895		128,231
	4,204	5.00%, 7/20/41, Pool #5116		4,476
	133,488	4.50%, 7/20/41, Pool #5115		144,300
	22,940	4.50%, 7/20/41, Pool #754367		23,671
	39,608	4.50%, 7/20/41, Pool #783584		40,245
	40,182	4.50%, 11/15/41, Pool #783610		42,463
	111,045	3.50%, 1/15/42, Pool #553461		111,719
	158,273	4.00%, 4/20/42, Pool #MA0023		161,682
	70,040	5.00%, 7/20/42, Pool #MA0223		74,913
	158,983	3.50%, 4/15/43, Pool #AD2334		163,951
	301,836	3.50%, 4/20/43, Pool #MA0934		303,848
	170,799	3.50%, 5/20/43, Pool #MA1012		171,937
	14,778	4.00%, 7/20/43, Pool #MA1158		14,916
	589,709	4.50%, 6/20/44, Pool #MA1997		614,483
	14,870	4.00%, 8/20/44, Pool #AI4167		14,848
	1,642	4.00%, 8/20/44, Pool #AI4166		1,641
	479,469	4.00%, 8/20/44, Pool #MA2149		486,485
	11,878	4.00%, 8/20/44, Pool #AJ4687		11,861
	11,831	4.00%, 8/20/44, Pool #AJ2723		11,814
	23,091	3.00%, 12/20/44, Pool #MA2444		22,053
	274,279	5.00%, 12/20/44, Pool #MA2448		292,036
	276,639	3.00%, 2/15/45, Pool #784439		261,530
	1,225,440	3.50%, 5/20/45, Pool #MA2826		1,207,874
	167,579	5.00%, 12/20/45, Pool #MA3313		184,243


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Government National Mortgage Association, continued
$	6,226,061	3.50%, 3/20/46, Pool #MA3521	$	6,126,397
	1,188,818	3.50%, 5/20/46, Pool #MA3663		1,169,800
	397,926	3.50%, 7/20/46, Pool #MA3803		391,563
	1,618,037	3.50%, 9/20/46, Pool #MA3937		1,592,160
	68,898	3.50%, 10/20/46, Pool #AX4341		69,844
	75,390	3.50%, 10/20/46, Pool #AX4342		74,401
	100,527	3.50%, 10/20/46, Pool #AX4345		101,282
	154,685	3.50%, 10/20/46, Pool #AX4344		154,540
	57,138	3.50%, 10/20/46, Pool #AX4343		55,769
	10,175	4.00%, 10/20/46, Pool #AQ0542		10,360
	80,379	4.50%, 3/15/47, Pool #AZ8560		84,161
	123,128	4.50%, 4/15/47, Pool #AZ8596		126,688
	71,804	4.50%, 4/15/47, Pool #AZ8597		75,179
	69,782	4.50%, 5/15/47, Pool #BA7888		71,803
	1,539,371	4.00%, 6/20/47, Pool #MA4511		1,549,935
	19,179	4.00%, 9/15/47, Pool #BC5919		19,359
	17,575	4.00%, 10/15/47, Pool #BD3187		17,842
	19,112	4.00%, 10/15/47, Pool #BE1031		19,289
	18,254	4.00%, 11/15/47, Pool #BE1030		18,582
	1,213,886	4.00%, 11/20/47, Pool #MA4838		1,222,205
	21,318	4.00%, 12/15/47, Pool #BE4664		21,515
	590,271	4.00%, 12/20/47, Pool #MA4901		594,319
	19,248	4.00%, 1/15/48, Pool #BE0204		19,418
	24,527	4.00%, 1/15/48, Pool #BE0143		24,757
	291,785	4.50%, 9/20/48, Pool #BD0560		295,432
	508,506	4.50%, 3/20/49, Pool #MA5818		522,240
	21,376	4.50%, 4/20/49, Pool #MA5877		21,953
	228,229	4.50%, 5/20/49, Pool #MA5932		234,394
	418,200	4.50%, 4/20/50, Pool #MA6602		423,983
	684,105	3.00%, 4/20/50, Pool #MA6599		646,916
	317,852	4.00%, 5/20/50, Pool #MA6658		317,666
	87,428	3.00%, 5/20/50, Pool #MA6656		83,181
	6,448,287	2.00%, 8/20/50, Pool #MA6818		5,729,405
	1,579,669	3.00%, 10/20/50, Pool #MA6932		1,496,532
	5,992,737	2.00%, 11/20/50, Pool #MA6994		5,341,542
	1,412,301	3.00%, 1/20/51, Pool #MA7137		1,335,517
	14,047,834	2.00%, 1/20/51, Pool #MA7135		12,537,069
	2,133,115	2.00%, 2/20/51, Pool #MA7192		1,895,142
	497,851	2.50%, 4/20/51, Pool #MA7312		456,819
	7,337,573	3.00%, 6/20/51, Pool #MA7419		6,937,063
	8,703,763	3.00%, 8/20/51, Pool #MA7535		8,226,379
	6,538,433	2.50%, 10/20/51, Pool #MA7649		6,010,937
	12,312,971	2.50%, 12/20/51, Pool #MA7767		11,292,131
	2,318,390	3.00%, 12/20/51, Pool #MA7768		2,190,663
	873,000	5.00%, 7/20/52, TBA		894,825
	5,462,500	3.00%, 7/20/52, TBA		5,155,234
	8,641,300	2.00%, 7/20/52, TBA		7,663,753
	18,551,100	2.50%, 7/20/52, TBA		16,991,648
	1,122,000	4.50%, 7/20/52, TBA		1,138,479
	3,448,000	4.00%, 7/20/52, TBA		3,432,915
	497,000	3.50%, 7/20/52, TBA		482,789
	8,257,797	3.50%, 8/1/52, TBA		8,010,063

				130,438,718

Federal Home Loan Bank (0.2%)
	4,080,000	3.56%, 5/16/33		4,100,388

	Total U.S. Government Agency Mortgages (Cost $740,185,502)			709,999,006


Principal Amount			Value
U.S. Treasury Obligations (24.5%):
U.S. Treasury Bonds (11.8%)
$	2,480,000	5.38%, 2/15/31	$	2,920,975
	14,025,000	4.75%, 2/15/37		16,992,164
	10,000,000	5.00%, 5/15/37		12,396,875
	12,855,000	1.13%, 8/15/40		8,928,199
	35,585,000	1.88%, 2/15/41(d)		28,067,669
	30,115,000	1.75%, 8/15/41		23,042,680
	17,020,000	2.00%, 11/15/41		13,594,725
	29,385,000	3.13%, 11/15/41(d)		28,351,934
	5,045,000	2.38%, 2/15/42		4,302,439
	7,022,500	3.63%, 8/15/43		7,245,245
	1,205,000	3.13%, 8/15/44		1,148,516
	15,000	2.50%, 2/15/45		12,806
	955,000	3.00%, 5/15/45		891,731
	1,770,000	2.88%, 8/15/45		1,618,444
	12,235,000	3.00%, 11/15/45		11,447,372
	22,700,000	2.25%, 8/15/46		18,436,656
	6,855,000	2.88%, 11/15/46		6,291,605
	3,105,000	2.75%, 11/15/47		2,802,263
	5,645,000	3.00%, 2/15/48		5,358,340
	30,570,000	3.13%, 5/15/48(d)		29,800,973
	4,055,000	3.38%, 11/15/48		4,153,207
	8,700,000	3.00%, 2/15/49		8,356,078
	125,000	2.88%, 5/15/49		117,480
	10,975,000	1.25%, 5/15/50		7,044,578
	8,590,000	1.38%, 8/15/50		5,704,297
	11,849,000	1.63%, 11/15/50		8,407,236
	1,102,000	1.88%, 11/15/51		834,076
	629,000	2.25%, 2/15/52		522,070
	8,683,000	2.88%, 5/15/52		8,267,844

				267,058,477

U.S. Treasury Inflation Index Bonds (2.1%)
	47,175,000	0.13%, 4/15/27		47,610,459

U.S. Treasury Notes (10.6%)
	1,390,000	2.50%, 5/31/24^		1,378,489
	1,140,000	1.38%, 1/31/25		1,094,222
	12,970,000	1.13%, 2/28/25		12,353,925
	34,235,000	1.75%, 3/15/25		33,133,061
	3,164,000	0.50%, 3/31/25		2,955,374
	7,030,000	2.63%, 4/15/25		6,959,700
	16,246,000	0.38%, 4/30/25		15,091,011
	13,710,000	0.25%, 5/31/25		12,662,470
	890,000	3.00%, 10/31/25		889,444
	1,550,000	2.88%, 11/30/25		1,542,250
	7,810,000	0.38%, 12/31/25		7,124,184
	4,310,000	0.50%, 2/28/26		3,932,875
	2,435,000	2.38%, 4/30/26		2,379,452
	1,520,000	2.13%, 5/31/26		1,470,125
	2,407,000	1.88%, 6/30/26		2,304,703
	2,430,000	1.88%, 7/31/26		2,323,688
	14,160,000	0.63%, 7/31/26		12,854,625
	25,303,000	0.75%, 8/31/26		23,061,312
	1,973,000	1.25%, 12/31/26		1,826,258
	12,630,000	2.63%, 5/31/27		12,408,975
	3,550,000	3.25%, 6/30/27		3,590,492
	10,580,000	0.38%, 7/31/27		9,264,113
	4,620,000	0.38%, 9/30/27		4,025,175
	5,455,000	1.25%, 6/30/28		4,916,319
	1,005,000	1.00%, 7/31/28		890,524
	3,458,000	2.88%, 8/15/28		3,421,799


Principal Amount			Value
U.S. Treasury Obligations, continued
U.S. Treasury Notes, continued
$	10,026,000	1.88%, 2/28/29	$	9,339,846
	15,853,000	2.38%, 3/31/29		15,206,495
	255,000	2.38%, 5/15/29		244,720
	45,000	2.75%, 5/31/29		44,212
	12,975,000	3.25%, 6/30/29		13,153,406
	11,880,000	0.63%, 5/15/30		9,930,938
	925,000	0.63%, 8/15/30		768,906
	7,270,000	2.88%, 5/15/32		7,208,659

				239,751,747

	Total U.S. Treasury Obligations (Cost $613,028,531)			554,420,683

Certificate of Deposit (1.1%):
$	26,335,000	MUFG Bank, Ltd.,, 1.79%, 1/27/23		26,262,316

	Total Certificate of Deposit (Cost $26,335,000)			26,262,316

Short-Term Security Held as Collateral for Securities on Loan (0.4%):
	8,809,111	BlackRock Liquidity FedFund, Institutional Class , 0.19%(c)(e)		8,809,111

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $8,809,111)			8,809,111



Shares			Value
Unaffiliated Investment Company (4.2%):
Money Markets (4.2%):
	95,232,996	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(c)	$	95,232,996

	Total Unaffiliated Investment Company (Cost $95,232,996)			95,232,996

	Total Investment Securities
	(Cost $2,615,893,999) — 106.1%			2,405,335,546
	Net other assets (liabilities) — (6.1)%			(138,976,341	)

	Net Assets — 100.0%		$	2,266,359,205

Balances Reported in the Statement of Assets and Liabilities for Forward Currency Contracts

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	2,615,893,999

Investment securities, at value(a)	$	2,405,335,546
Deposit at broker for futures contracts collateral		111,000
Interest and dividends receivable		12,333,598
Foreign currency, at value (cost $904,776)		899,461
Unrealized appreciation on forward currency contracts		246,560
Receivable for investments sold		38,387,361
Receivable for TBA investments sold		218,691,110
Prepaid expenses		7,207

Total Assets		2,676,011,843

Liabilities:
Cash overdraft		16,405
Payable for investments purchased		68,431,614
Payable for TBA investments purchased		302,583,964
Payable for capital shares redeemed		1,195,324
Payable for collateral received on loaned securities		8,809,111
Securities sold short (Proceeds received $26,337,889)		26,579,566
Payable for variation margin on futures contracts		506,377
Manager fees payable		655,773
Administration fees payable		330,596
Distribution fees payable		468,411
Custodian fees payable		9,813
Administrative and compliance services fees payable		2,447
Transfer agent fees payable		1,164
Trustee fees payable		20,806
Other accrued liabilities		41,267

Total Liabilities		409,652,638

Net Assets	$	2,266,359,205

Net Assets Consist of:
Paid in capital	$	2,503,409,727
Total distributable earnings		(237,050,522	)

Net Assets	$	2,266,359,205

Shares of beneficial interest (unlimited number of shares authorized, no par value)		227,744,326
Net Asset Value (offering and redemption price per share)	$	9.95

(a)	Includes securities on loan of $8,122,936.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Interest	$	24,361,320
Dividends		83,761
Income from securities lending		31,107
Foreign withholding tax		(5,978	)

Total Investment Income		24,470,210

Expenses:
Management fees		4,264,775
Administration fees		245,695
Distribution fees		3,046,274
Custodian fees		41,805
Administrative and compliance services fees		14,607
Transfer agent fees		3,343
Trustee fees		57,669
Professional fees		46,642
Shareholder reports		15,816
Other expenses		23,990

Total expenses		7,760,616

Net Investment Income/(Loss)		16,709,594

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities and foreign currencies		(82,852,694	)
Net realized gains/(losses) on forward currency contracts		5,009,739
Net realized gains/(losses) on futures contracts		2,963,398
Net realized gains/(losses) on securities held short		1,084,592
Change in net unrealized appreciation/depreciation on securities and foreign currencies		(233,928,763	)
Change in net unrealized appreciation/depreciation on forward currency contracts		944,141
Change in net unrealized appreciation/depreciation on futures contracts		1,187,952
Change in net unrealized appreciation/depreciation on securities held short		(242,570	)

Net realized and Change in net unrealized gains/losses on investments		(305,834,205	)

Change in Net Assets Resulting From Operations	$	(289,124,611	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services—Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL Enhanced Bond Index Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

The Fund may purchase securities on a when-issued basis. When-issued securities are securities purchased for delivery beyond the normal settlement date at a stated price and yield and thereby involve risk that the yield obtained in the transaction will be less than that available in the market when the delivery takes place. The Fund will not pay for such securities or start earning interest on them until they are received. When the Fund agrees to purchase securities on a when-issued basis, the Fund will segregate or designate cash or liquid assets equal to the amount of the commitment. Securities purchased on a when-issued basis are recorded as an asset and are subject to changes in the value based upon changes in the general level of interest rates. The Fund may sell when-issued securities before they are delivered, which may result in a capital gain or loss.

payment. When the Fund engages in a short sale, the Fund records a liability for securities sold short and records an asset equal to the proceeds received. The amount of the liability is subsequently marked to market to reflect the market value of the securities sold short. To borrow the security, the Fund also may be required to pay a premium, which would increase the cost of the security sold.

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $3,078 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $8,809,111 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

The Fund may enter into to-be-announced (TBA) purchase or sale commitments, pursuant to which it agrees to purchase or sell, respectively, mortgage-backed securities for a fixed unit price, with payment and delivery at a scheduled future date beyond the customary settlement period for such securities. With TBA transactions, the particular securities to be delivered are not identified at the trade date; however, delivered securities must meet specified terms, including issuer, rate, and mortgage term, and be within industry-accepted “good delivery” standards. The Fund may enter into TBA purchase transactions with the intention of taking possession of the underlying securities, may elect to extend the settlement by “rolling” the transaction, and/or may use TBAs to gain interim exposure to underlying securities. Until settlement, the Fund maintains liquid assets sufficient to settle its TBA commitments.

To mitigate counterparty risk, the Fund has entered into agreements with TBA counterparties that provide for collateral and the right to offset amounts due to or from those counterparties under specified conditions. Subject to minimum transfer amounts, collateral requirements are determined and transfers made based on the net aggregate unrealized gain or loss on all TBA commitments with a particular counterparty. At any time, the Fund’s risk of loss from a particular counterparty related to its TBA commitments is the aggregate unrealized gain on appreciated TBAs in excess of unrealized loss on depreciated TBAs and collateral held, if any, by such counterparty. As of June 30, 2022, no collateral had been posted by the Fund to counterparties for TBAs.

must be effected at the current market price, which is either the security’s last sale price on an exchange or, if there are no transactions in the security that day, at the average of the highest bid and lowest asked price. During the period ended June 30, 2022, the Fund participated in the following cross-trade transactions:

During the period ended June 30, 2022, the Fund entered into forward currency contracts in connections with planned purchases or sales of securities or to hedge the U.S. dollar value of securities denominated in a particular currency. In addition to the foreign currency risk related to the use of these contracts, the Fund could be exposed to risks if the counterparties to the contracts are unable to meet the terms of their contracts and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar. In the event of default by the counterparty to the transaction, the Fund’s maximum amount of loss, as either the buyer or the seller, is the unrealized appreciation of the contract. The forward currency contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded for financial statement purposes as unrealized gains or losses until the contract settlement date. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. For the period ended June 30, 2022, the monthly average notional amount for long contracts was $15.8 million and the monthly average notional amount for short contracts was $85.7 million. Realized gains and losses are reported as “Net realized gains/(losses) on forward currency contracts” on the Statement of Operations.

During the period ended June 30, 2022, the Fund used futures contracts to provide market exposure on the Fund’s cash balances. Futures contracts are valued based upon their quoted daily settlement prices. Upon entering into a futures contract, the Fund is required to segregate liquid assets in accordance with the initial margin requirements of the broker or exchange. Futures contracts are marked to market daily and a payable or receivable for the change in value (“variation margin”), if any, is recorded by the Fund. Gains or losses are recognized but not considered realized until the contracts expire or are closed. Futures contracts involve, to varying degrees, elements of market risk (generally equity price risk related to stock futures, interest rate risk related to bond futures, and foreign currency risk related to currency futures) and exposure to loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities. The primary risks associated with the use of futures contracts are the imperfect correlation between the change in value of the underlying securities and the prices of futures contracts, the possibility of an illiquid market, and the inability of the counterparty to meet the terms of the contract. For the period ended June 30, 2022, the monthly average notional amount for long contracts was $273.4 million, and the monthly average notional amount for short contracts was $134.4 million. Realized gains and losses are reported as “Net realized gains/(losses) on futures contracts” on the Statement of Operations.

The following is a summary of the values of derivative instruments on the Fund’s Statement of Assets and Liabilities, categorized by risk exposure, as of June 30, 2022:

The following is a summary of the effect of derivative instruments on the Statement of Operations, categorized by risk exposure, for the period ended June 30, 2022:

purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to master netting arrangements in the Statement of Assets and Liabilities. This table also summarizes the fair values of derivative instruments on the Fund’s Statement of Assets and Liabilities, categorized by risk exposure, as of June 30, 2022.

As of June 30, 2022, the Fund’s derivative assets and liabilities by type were as follows:

The following table presents the Fund’s derivative assets by counterparty net of amounts available for offset under MNA and net of the related collateral received by the Fund as of June 30, 2022:

The Manager provides investment advisory and management services for the Fund. The Manager has retained an independent money management organization (the “Subadviser”), to make investment decisions on behalf of the Fund. Pursuant to a subadvisory agreement with BlackRock Financial Management, Inc. (“BlackRock Financial”), BlackRock Financial provides investment advisory services as the Subadviser for the Fund subject to the general supervision of the Trustees and the Manager. The Manager is entitled to a fee, computed daily and paid monthly, based on the average daily net assets of the Fund. Expenses incurred by the Fund for investment advisory and management services are reflected on the Statement of Operations as “Management fees.” For its services, the Subadviser is entitled to a fee payable by the Manager. The Manager has contractually agreed to waive fees and reimburse the Fund to limit the annual expenses, excluding interest expense (e.g., cash overdraft fees), taxes, brokerage commissions, acquired fund fees and expenses, other expenditures that are capitalized in accordance with U.S. GAAP and other extraordinary expenses not incurred in the ordinary course of the Fund’s business, based on the daily net assets of the Fund, through April 30, 2023.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

Forward currency contracts are generally valued at the forward foreign currency exchange rate as of the close of the NYSE and are typically categorized as Level 2 in the fair value hierarchy.

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

For the period ended June 30, 2022, purchases and sales of long-term U.S. government securities were as follows:

London Interbank Offering Rate (“LIBOR”) Risk: Certain investments held by the Fund may pay or receive interest at floating rates based on LIBOR. The United Kingdom Financial Conduct Authority has announced that it will stop compelling banks to submit rates for many LIBOR settings after December 31, 2021, and for certain other commonly-used U.S. dollar LIBOR settings after June 30, 2023. The transition away from LIBOR could result in increased volatility and uncertainty in markets tied to LIBOR. The elimination of LIBOR may adversely affect the market for, or value of, specific securities or payments linked to LIBOR rates, the availability or terms of borrowing or refinancing, or the effectiveness of hedging strategies. To the extent that the Fund’s investments have maturities which extend beyond 2023, the applicable interest rates might be subject to change if there is a transition from the LIBOR reference rate. These risks may also apply with respect to changes in connection with other interbank offering rates (e.g., Euribor or SOFR) and a wide range of other index levels, rates and values that are treated as “benchmarks” and are the subject of recent regulatory reform.

Mortgage-Related and Other Asset-Backed Securities Risk: The Fund may invest in a variety of mortgage-related and other asset-backed securities, which are subject to certain additional risks. Generally, rising interest rates tend to extend the duration of fixed rate mortgage-related securities, making them more sensitive to changes in interest rates. As a result, in a period of rising interest rates, investments in mortgage-related securities may cause the fund to exhibit additional volatility. This is known as extension risk. In addition, adjustable and fixed rate mortgage-related securities are subject to call risk. When interest rates decline, borrowers may pay off their mortgages sooner than expected. This can reduce the returns of the Fund because the Fund will have to reinvest that money at the lower prevailing interest rates. If the Fund purchases mortgage-backed or asset-backed securities that are subordinated to other interests in the same mortgage pool, the Fund may receive payments only after the pool’s obligations to other investors have been satisfied. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may limit substantially the pool’s ability to make payments of principal or interest to the Fund as a holder of such subordinated securities, reducing the values of those securities or in some cases rendering them worthless. An unexpectedly high or low rate of prepayments on a pool’s underlying mortgages may have a similar effect on subordinated securities. A mortgage pool may issue securities subject to various levels of subordination. The risk of non-payment affects securities at each level, although the risk is greater in the case of more highly subordinated securities. The Fund’s investments in other asset-backed securities are subject to risks similar to those associated with mortgage-related securities, as well as additional risks associated with the nature of the assets and the servicing of those assets.

Short Sale Risk: The Fund may engage in short sales, which are transactions in which the Fund sells securities borrowed from others with the expectation that the price of the security will fall before the Fund must purchase the security to return it to the lender. The Fund may make short sales of securities, either as a hedge against potential declines in value of a portfolio security or to realize appreciation when a security that the Fund does not own declines in value. Because making short sales in securities that it does not own exposes the Fund to the risks associated with those securities, such short sales involve speculative exposure risk. The Fund will incur a loss as a result of a short sale if the price of the security increases between the date of the short sale and the date on which the Fund replaces the security sold short. The Fund will realize a gain if the security declines in price between those dates. As a result, if the Fund makes short sales in securities that increase in value, it will likely underperform similar funds that do not make short sales in securities they do not own. There can be no assurance that the Fund will be able to close out a short sale position at any particular time or at an acceptable price. Although the Fund’s gain is limited to the amount at which it sold a security short, its potential loss is limited only by the maximum attainable price of the security, less the price at which the security was sold. The Fund may also pay transaction costs and borrowing fees in connection with short sales.

The current outbreak of the novel strain of coronavirus, COVID-19, has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain the spread of COVID-19 have resulted in travel restrictions, closed international borders, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, defaults and other significant economic impacts, all of which have disrupted global economic activity across many industries and may exacerbate other pre-existing political, social and economic risks, locally or globally. The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Fund’s performance.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $3,232,395,652. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had an individual shareholder account which is affiliated with the Manager representing ownership in excess of 25% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

As a shareholder of the AZL Fidelity Institutional Asset Management Multi-Strategy Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Shares			Value
Common Stocks (37.7%):
Aerospace & Defense (0.7%):
	5,159	Aerojet Rocketdyne Holdings, Inc.*	$	209,455
	10,680	Lockheed Martin Corp.		4,591,973
	9,248	Moog, Inc., Class A		734,199
	1,451	Northrop Grumman Corp.		694,405
	10,403	Parsons Corp.*		420,489
	2,420	Raytheon Technologies Corp.		232,586
	51,214	Textron, Inc.		3,127,639

				10,010,746

Air Freight & Logistics (0.1%):
	7,565	United Parcel Service, Inc., Class B		1,380,915
	13,428	XPO Logistics, Inc.*		646,693

				2,027,608

Airlines (0.1%):
	3,709	Alaska Air Group, Inc.*		148,545
	57,004	Southwest Airlines Co.*		2,058,985

				2,207,530

Automobiles (0.5%):
	71,328	Ford Motor Co.		793,881
	2,112	Harley-Davidson, Inc.		66,866
	10,432	Tesla, Inc.*		7,025,117
	3,676	Thor Industries, Inc.		274,707

				8,160,571

Banks (1.4%):
	207,394	Bank of America Corp.		6,456,175
	11,836	Citizens Financial Group, Inc.		422,427
	38,318	Fifth Third Bancorp		1,287,485
	7,103	First Republic Bank		1,024,253
	71,515	JPMorgan Chase & Co.		8,053,304
	31,667	U.S. Bancorp		1,457,315
	36,754	Wells Fargo & Co.		1,439,654

				20,140,613

Beverages (0.8%):
	15,579	Brown-Forman Corp., Class B		1,093,023
	108,710	Coca-Cola Co. (The)		6,838,946
	199	Coca-Cola Consolidated, Inc.		112,216
	6,182	Monster Beverage Corp.*		573,072
	17,843	PepsiCo, Inc.		2,973,714

				11,590,971

Biotechnology (1.2%):
	10,897	AbbVie, Inc.		1,668,984
	12,182	Amgen, Inc.		2,963,881
	12,057	Biogen, Inc.*		2,458,905
	8,199	Exelixis, Inc.*		170,703
	68,049	Gilead Sciences, Inc.		4,206,109
	12,861	Incyte Corp.*		977,050
	8,941	Moderna, Inc.*		1,277,222
	4,456	Regeneron Pharmaceuticals, Inc.*		2,634,075
	6,016	United Therapeutics Corp.*		1,417,610

				17,774,539

Capital Markets (0.9%):
	6,719	BlackRock, Inc., Class A		4,092,140
	885	Cboe Global Markets, Inc.		100,173
	4,249	Charles Schwab Corp. (The)		268,452
	13,954	Goldman Sachs Group, Inc. (The)		4,144,617


Shares			Value
Common Stocks, continued
Capital Markets, continued
	38,642	Morgan Stanley	$	2,939,110
	7,236	Raymond James Financial, Inc.		646,971
	17,119	Stifel Financial Corp.		959,006

				13,150,469

Chemicals (0.6%):
	13,497	CF Industries Holdings, Inc.		1,157,098
	24,313	Chemours Co. (The)		778,502
	376	Eastman Chemical Co.		33,754
	9,052	LyondellBasell Industries NV, Class A		791,688
	55,978	Olin Corp.		2,590,662
	5,209	Sherwin-Williams Co. (The)		1,166,347
	19,106	Westlake Corp.		1,872,770

				8,390,821

Commercial Services & Supplies (0.2%):
	59	Cintas Corp.		22,038
	754	Clean Harbors, Inc.*		66,103
	19,991	Republic Services, Inc.		2,616,222
	435	Waste Management, Inc.		66,547

				2,770,910

Communications Equipment (0.4%):
	5,496	Ciena Corp.*		251,167
	134,543	Cisco Systems, Inc.		5,736,914

				5,988,081

Construction & Engineering (0.0%^†):
	5,695	EMCOR Group, Inc.		586,357

Consumer Finance (0.3%):
	20,661	Capital One Financial Corp.		2,152,670
	5,707	Discover Financial Services		539,768
	8,463	OneMain Holdings, Inc.		316,347
	36,873	Synchrony Financial		1,018,432

				4,027,217

Containers & Packaging (0.1%):
	45,541	Westrock Co.		1,814,353

Distributors (0.1%):
	7,673	Genuine Parts Co.		1,020,509

Diversified Consumer Services (0.0%^†):
	7,799	Service Corp. International		539,067

Diversified Financial Services (0.8%):
	42,229	Berkshire Hathaway, Inc., Class B*		11,529,362

Diversified Telecommunication Services (0.4%):
	1,791	Frontier Communications Parent, Inc.*		42,160
	4,700	Iridium Communications, Inc.*		176,532
	126,143	Verizon Communications, Inc.		6,401,757

				6,620,449

Electric Utilities (0.4%):
	752	Duke Energy Corp.		80,622
	6,214	FirstEnergy Corp.		238,555
	45,706	Hawaiian Electric Industries, Inc.		1,869,375
	38,433	NextEra Energy, Inc.		2,977,020
	14,352	Xcel Energy, Inc.		1,015,548

				6,181,120

Electrical Equipment (0.3%):
	10,937	AMETEK, Inc.		1,201,867
	19,330	Atkore, Inc.*		1,604,583


Shares			Value
Common Stocks, continued
Electrical Equipment, continued
	28,366	Emerson Electric Co.	$	2,256,232

				5,062,682

Electronic Equipment, Instruments & Components (0.4%):
	15,236	CDW Corp.		2,400,584
	19,131	Corning, Inc.		602,818
	4,246	Keysight Technologies, Inc.*		585,311
	23,261	National Instruments Corp.		726,441
	61,395	Vontier Corp.		1,411,471
	2,307	Zebra Technologies Corp., Class A*		678,143

				6,404,768

Energy Equipment & Services (0.2%):
	5,739	Baker Hughes Co.		165,685
	16,450	ChampionX Corp.		326,532
	14,031	Halliburton Co.		440,012
	10,178	NOV, Inc.		172,110
	18,395	Patterson-UTI Energy, Inc.		289,905
	53,493	Schlumberger, Ltd.		1,912,910

				3,307,154

Entertainment (0.3%):
	4,604	Activision Blizzard, Inc.		358,467
	17,908	Electronic Arts, Inc.		2,178,508
	81,590	Playtika Holding Corp.*		1,080,252
	2,398	Walt Disney Co. (The)*		226,371
	23,606	Warner Bros Discovery, Inc.*		316,793

				4,160,391

Equity Real Estate Investment Trusts (1.0%):
	27,713	American Homes 4 Rent, Class A		982,149
	5,839	American Tower Corp.		1,492,390
	380	AvalonBay Communities, Inc.		73,815
	7,607	Camden Property Trust		1,022,989
	7,429	Crown Castle International Corp.		1,250,895
	6,669	Douglas Emmett, Inc.		149,252
	2,687	EastGroup Properties, Inc.		414,685
	1,991	Essex Property Trust, Inc.		520,666
	4,968	Extra Space Storage, Inc.		845,156
	12,974	Highwoods Properties, Inc.		443,581
	9,675	National Retail Properties, Inc.		416,025
	8,670	National Storage Affiliates Trust		434,107
	8,280	Public Storage		2,588,908
	3,738	SBA Communications Corp.		1,196,347
	99,134	STORE Capital Corp.		2,585,415
	2,820	Terreno Realty Corp.		157,159
	4,559	Ventas, Inc.		234,469

				14,808,008

Food & Staples Retailing (0.7%):
	10,887	Costco Wholesale Corp.		5,217,921
	13,572	Kroger Co. (The)		642,363
	12,658	Sprouts Farmers Market, Inc.*		320,500
	38,691	Walmart, Inc.		4,704,052

				10,884,836

Food Products (0.5%):
	14,829	Archer-Daniels-Midland Co.		1,150,730
	9,295	General Mills, Inc.		701,308
	87,062	Kraft Heinz Co. (The)		3,320,545
	11,811	Mondelez International, Inc., Class A		733,345


Shares			Value
Common Stocks, continued
Food Products, continued
	16,378	Tyson Foods, Inc., Class A	$	1,409,490

				7,315,418

Gas Utilities (0.0%^†):
	8,306	Brookfield Infrastructure Corp., Class A		353,005
	7,980	UGI Corp.		308,108

				661,113

Health Care Equipment & Supplies (0.7%):
	44,706	Abbott Laboratories		4,857,307
	127	ABIOMED, Inc.*		31,434
	7,113	Danaher Corp.		1,803,288
	12,142	Edwards Lifesciences Corp.*		1,154,583
	6,888	Embecta Corp.*		174,404
	2,000	Figs, Inc., Class A*^		18,220
	12,779	Hologic, Inc.*		885,585
	498	Intuitive Surgical, Inc.*		99,953
	16,036	Medtronic plc		1,439,231
	1,731	Teleflex, Inc.		425,566
	276	West Pharmaceutical Services, Inc.		83,454

				10,973,025

Health Care Providers & Services (1.3%):
	48,263	CVS Health Corp.		4,472,050
	13,733	DaVita, Inc.*		1,098,091
	8,729	Elevance Health, Inc.		4,212,441
	3,457	Laboratory Corp. of America Holdings		810,182
	1,374	Molina Healthcare, Inc.*		384,184
	17,562	UnitedHealth Group, Inc.		9,020,370

				19,997,318

Health Care Technology (0.2%):
	11,431	Veeva Systems, Inc., Class A*		2,263,795

Hotels, Restaurants & Leisure (0.8%):
	9,790	Airbnb, Inc., Class A*		872,093
	290	Booking Holdings, Inc.*		507,207
	2,600	Caesars Entertainment, Inc.*		99,580
	479	Chipotle Mexican Grill, Inc.*		626,177
	8,390	Expedia Group, Inc.*		795,624
	1,526	Hyatt Hotels Corp., Class A*		112,787
	71,710	International Game Technology plc		1,330,938
	19,090	McDonald’s Corp.		4,712,939
	4,390	MGM Resorts International		127,090
	18,277	Starbucks Corp.		1,396,180
	1,749	Texas Roadhouse, Inc., Class A		128,027
	6,141	Travel + Leisure Co.		238,394
	60,505	Wendy’s Co. (The)		1,142,334
	3,009	Yum! Brands, Inc.		341,552

				12,430,922

Household Products (0.7%):
	3,282	Church & Dwight Co., Inc.		304,110
	27,954	Colgate-Palmolive Co.		2,240,233
	50,202	Procter & Gamble Co. (The)		7,218,546

				9,762,889

Independent Power and Renewable Electricity Producers (0.1%):
	38,861	Vistra Corp.		887,974

Industrial Conglomerates (0.3%):
	25,921	3M Co.		3,354,436
	6,285	Honeywell International, Inc.		1,092,396

				4,446,832


Shares			Value
Common Stocks, continued
Insurance (0.7%):
	10,213	American International Group, Inc.	$	522,191
	13,167	Aon plc, Class A		3,550,877
	35,745	Brown & Brown, Inc.		2,085,363
	7,097	Loews Corp.		420,568
	1,016	Progressive Corp. (The)		118,130
	11,589	Travelers Cos., Inc. (The)		1,960,048
	22,670	WR Berkley Corp.		1,547,454

				10,204,631

Interactive Media & Services (2.2%):
	5,339	Alphabet, Inc., Class A*		11,635,069
	5,270	Alphabet, Inc., Class C*		11,527,862
	57,694	Meta Platforms, Inc., Class A*		9,303,157

				32,466,088

Internet & Direct Marketing Retail (1.1%):
	132,115	Amazon.com, Inc.*		14,031,934
	62,374	eBay, Inc.		2,599,124
	23,103	Qurate Retail, Inc., Class A		66,306

				16,697,364

IT Services (1.4%):
	993	Accenture plc, Class A		275,706
	46,205	Alliance Data Systems Corp.		1,712,357
	19,060	Amdocs, Ltd.		1,587,889
	10,677	Automatic Data Processing, Inc.		2,242,597
	2,613	Cognizant Technology Solutions Corp., Class A		176,351
	1,037	Fidelity National Information Services, Inc.		95,062
	14,921	FleetCor Technologies, Inc.*		3,135,051
	6,341	Gartner, Inc.*		1,533,444
	5,726	GoDaddy, Inc., Class A*		398,301
	13,570	Mastercard, Inc., Class A		4,281,064
	4,216	Paychex, Inc.		480,076
	2,851	VeriSign, Inc.*		477,058
	22,951	Visa, Inc., Class A		4,518,822

				20,913,778

Leisure Products (0.1%):
	13,583	Brunswick Corp.		888,057

Life Sciences Tools & Services (0.5%):
	23,539	Agilent Technologies, Inc.		2,795,727
	1,280	Bio-Rad Laboratories, Inc., Class A*		633,600
	4,587	IQVIA Holdings, Inc.*		995,333
	5,592	Thermo Fisher Scientific, Inc.		3,038,022

				7,462,682

Machinery (0.2%):
	8,060	Allison Transmission Holdings, Inc.		309,907
	4,876	Caterpillar, Inc.		871,634
	1,986	Cummins, Inc.		384,351
	8,671	PACCAR, Inc.		713,970
	1,387	Parker-Hannifin Corp.		341,271

				2,621,133

Marine (0.0%^†):
	5,509	Matson, Inc.		401,496

Media (0.3%):
	33,810	Altice USA, Inc., Class A*		312,743
	1,770	Charter Communications, Inc., Class A*		829,298
	91,597	Comcast Corp., Class A		3,594,266

				4,736,307


Shares			Value
Common Stocks, continued
Metals & Mining (0.1%):
	18,687	Nucor Corp.	$	1,951,110

Mortgage Real Estate Investment Trusts (0.0%^†):
	7,313	Starwood Property Trust, Inc.		152,769

Multiline Retail (0.1%):
	38	Dillard’s, Inc., Class A^		8,382
	1,092	Dollar General Corp.		268,020
	53,261	Macy’s, Inc.		975,742

				1,252,144

Multi-Utilities (0.4%):
	30,295	Public Service Enterprise Group, Inc.		1,917,068
	2,166	Sempra Energy		325,485
	32,752	WEC Energy Group, Inc.		3,296,161

				5,538,714

Oil, Gas & Consumable Fuels (1.9%):
	52,085	Chevron Corp.		7,540,866
	29,016	ConocoPhillips		2,605,927
	20,328	Coterra Energy, Inc.		524,259
	5,526	Denbury, Inc.*		331,505
	4,181	Devon Energy Corp.		230,415
	21,603	EOG Resources, Inc.		2,385,835
	3,400	EQT Corp.		116,960
	90,587	Exxon Mobil Corp.		7,757,871
	29,882	Marathon Oil Corp.		671,747
	17,556	Marathon Petroleum Corp.		1,443,279
	10,315	Murphy Oil Corp.		311,410
	32,326	Occidental Petroleum Corp.		1,903,355
	12,931	Phillips 66		1,060,213
	1,793	Pioneer Natural Resources Co.		399,982
	4,011	Sanchez Energy Corp.*		250,101
	16,344	Targa Resources Corp.		975,246
	1,750	Valero Energy Corp.		185,990

				28,694,961

Pharmaceuticals (2.0%):
	61,259	Bristol-Myers Squibb Co.		4,716,943
	6,793	Eli Lilly & Co.		2,202,494
	56,947	Johnson & Johnson		10,108,662
	58,399	Merck & Co., Inc.		5,324,237
	141,780	Pfizer, Inc.		7,433,526

				29,785,862

Professional Services (0.2%):
	615	Booz Allen Hamilton Holding Corp.		55,571
	25,758	CoStar Group, Inc.*		1,556,041
	5,926	Leidos Holdings, Inc.		596,807
	2,503	TriNet Group, Inc.*		194,283

				2,402,702

Real Estate Management & Development (0.0%^†):
	5,482	CBRE Group, Inc., Class A*		403,530

Road & Rail (0.4%):
	94,597	CSX Corp.		2,748,989
	5,617	Norfolk Southern Corp.		1,276,688
	11,538	Union Pacific Corp.		2,460,824

				6,486,501

Semiconductors & Semiconductor Equipment (1.9%):
	15,529	Advanced Micro Devices, Inc.*		1,187,503
	12,578	Applied Materials, Inc.		1,144,346


Shares			Value
Common Stocks, continued
Semiconductors & Semiconductor Equipment, continued
	12,390	Broadcom, Inc.	$	6,019,186
	701	Diodes, Inc.*		45,264
	147,975	Intel Corp.		5,535,745
	16,855	Kulicke & Soffa Industries, Inc.		721,563
	3,241	Lam Research Corp.		1,381,152
	16,724	Micron Technology, Inc.		924,503
	3,185	MKS Instruments, Inc.		326,876
	25,867	NVIDIA Corp.		3,921,178
	736	NXP Semiconductors NV		108,950
	42,570	Qualcomm, Inc.		5,437,892
	3,090	Semtech Corp.*		169,857
	575	Skyworks Solutions, Inc.		53,268
	6,000	Texas Instruments, Inc.		921,900

				27,899,183

Software (3.8%):
	12,295	Adobe, Inc.*		4,500,708
	59,871	Box, Inc.*		1,505,157
	11,472	Cadence Design Systems, Inc.*		1,721,144
	136,199	Dropbox, Inc., Class A*		2,858,817
	588	HubSpot, Inc.*		176,782
	124,775	Microsoft Corp.		32,045,963
	36,549	Oracle Corp.		2,553,679
	523	Palo Alto Networks, Inc.*		258,331
	956	RingCentral, Inc., Class A*		49,960
	25,128	Salesforce, Inc.*		4,147,125
	4,306	ServiceNow, Inc.*		2,047,589
	621	Splunk, Inc.*		54,934
	4,626	SS&C Technologies Holdings, Inc.		268,632
	12,268	Synopsys, Inc.*		3,725,792
	2,230	Workday, Inc., Class A*		311,263

				56,225,876

Specialty Retail (0.8%):
	5,624	AutoNation, Inc.*		628,538
	16,933	Home Depot, Inc. (The)		4,644,214
	4,977	Lithia Motors, Inc.		1,367,729
	6,984	Lowe’s Cos., Inc.		1,219,895
	1,485	O’Reilly Automotive, Inc.*		938,164
	6,545	Ulta Beauty, Inc.*		2,522,967
	465	Williams-Sonoma, Inc.		51,592

				11,373,099

Technology Hardware, Storage & Peripherals (2.5%):
	249,642	Apple, Inc.		34,131,054
	19,136	Dell Technologies, Inc., Class C		884,275
	14,842	NetApp, Inc.		968,292
	50,719	Pure Storage, Inc., Class A*		1,303,985
	4,985	Western Digital Corp.*		223,478

				37,511,084

Textiles, Apparel & Luxury Goods (0.1%):
	33,834	Crocs, Inc.*		1,646,701

Thrifts & Mortgage Finance (0.1%):
	49,424	MGIC Investment Corp.		622,742
	11,874	TFS Financial Corp.		163,030

				785,772

Tobacco (0.2%):
	51,522	Altria Group, Inc.		2,152,074


Shares, Contracts or Principal Amount			Value
Common Stocks, continued
Tobacco, continued
	5,550	Philip Morris International, Inc.	$	548,007

				2,700,081

Trading Companies & Distributors (0.1%):
	25,546	Boise Cascade Co.		1,519,732

Water Utilities (0.1%):
	13,469	American Water Works Co., Inc.		2,003,783

	Total Common Stocks (Cost $595,814,431)			562,623,558

Preferred Stock (0.0%^†):
Electric Utilities (0.0%^†):
	1,000	PG&E Corp., 5.50%, 8/16/23		95,600

	Total Preferred Stock (Cost $117,395)			95,600

Warrants (0.0%^†):
Oil, Gas & Consumable Fuels (0.0%^†):
	63	California Resources Corp., 10/27/24*		647
	4,272	Occidental Petroleum Corp., 8/3/27		157,936

				158,583

	Total Warrants (Cost $50,290)			158,583

Asset Backed Securities (0.6%):
$	845,283	Aaset Trust, Class A, Series 2017-1A, 3.97%, 5/16/42(a)		701,482
	160,110	Aaset Trust, Class A, Series 2020-1A, 4.34%, 1/16/40(a)		70,054
	136,893	Aaset Trust, Class A, Series 2019-1, 3.84%, 5/15/39(a)		94,061
	251,382	Aaset Trust, Class A, Series 2019-2, 3.38%, 10/16/39(a)		191,131
	1,432,022	Aaset Trust, Class A, Series 2021-2A, 2.80%, 1/15/47(a)		1,306,159
	756,568	Aaset Trust, Class A, Series 2021-1A, 2.95%, 11/16/41(a)		659,187
	135,632	Aaset Trust, Class A, Series 2020-1A, 3.35%, 1/16/40(a)		113,766
	206,293	Aaset Trust, Class A, Series 2018-1A, 3.84%, 1/16/38(a)		138,915
	1,065,980	Blackbird Capital Aircraft, Class A, Series 2021-1A, 2.44%, 7/15/46, Callable 7/15/28 @ 100(a)		923,238
	79,089	Blackbird Capital Aircraft, Class AA, Series 2016-1A, 2.49%, 12/16/41, Callable 12/15/24 @ 100(a)(b)		76,189
	522,493	Blackbird Capital Aircraft, Class A, Series 2016-1A, 4.21%, 12/16/41, Callable 12/15/24 @ 100(a)(b)		471,382
	163,602	Castlelake Aircraft Structured Trust, Class A, Series 2018-1A, 4.13%, 6/15/43(a)		147,037
	186,315	Castlelake Aircraft Structured Trust, Class B, Series 2019-1, 5.10%, 4/15/39(a)		147,578
	211,537	Castlelake Aircraft Structured Trust, Class A, Series 2019-1, 3.97%, 4/15/39(a)		186,609
	202,242	Castlelake Aircraft Structured Trust, Class A, Series 2021-1A, 3.47%, 1/15/46(a)		181,398
	367,477	CF Hippolyta LLC, Class A1, Series 2021-A, 1.53%, 3/15/61, Callable 3/15/24 @ 100(a)		324,459


Principal Amount			Value
Asset Backed Securities, continued
$	352,360	DB Master Finance LLC, Class A2II, Series 2017-1A, 4.03%, 11/20/47, Callable 11/20/23 @ 100(a)	$	335,829
	200,567	Horizon Aircraft Finance, Ltd., Class A, Series 2018-1, 4.46%, 12/15/38(a)		174,503
	211,343	Horizon Aircraft Finance, Ltd., Class A, Series 2019-1, 3.72%, 7/15/39(a)		187,007
	214,500	Planet Fitness Master Issuer LLC, Class A2, Series 1A, 3.86%, 12/5/49, Callable 12/5/25 @ 100(a)		190,697
	554,610	Planet Fitness Master Issuer LLC, Class A2II, Series 2022-1A, 4.01%, 12/5/51, Callable 12/5/27 @ 100(a)		494,590
	617,453	Planet Fitness Master Issuer LLC, Class A2I, Series 2022-1A, 3.25%, 12/5/51, Callable 12/5/24 @ 100(a)		555,744
	234,777	Project Silver, Class A, Series 2019-1, 3.97%, 7/15/44(a)		201,490
	233,783	Sapphire Aviation Finance, Ltd., Class B, Series 2020-1A, 4.34%, 3/15/40(a)		156,338
	226,936	Sapphire Aviation Finance, Ltd., Class A, Series 2020-1A, 3.23%, 3/15/40(a)		198,650
	330,726	Thunderbolt Aircraft Lease, Ltd., Class A, Series 2019-1, 3.67%, 11/15/39(a)		283,636
	227,853	Thunderbolt Aircraft Lease, Ltd., Class A, Series 2017-A, 4.21%, 5/17/32, Callable 4/15/24 @ 100(a)(b)		195,940
	322,622	Thunderbolt II Aircraft Lease, Ltd., Class A, Series 2018, 4.15%, 9/15/38(a)(b)		284,522

	Total Asset Backed Securities (Cost $10,422,236)			8,991,591

Collateralized Mortgage Obligations (5.5%):
	250,000	Aimco CLO, Class AR, Series 2018-BA, 2.14%(US0003M+110bps), 1/15/32, Callable 7/15/22 @ 100(a)		244,128
	523,000	Aimco CLO 11, Ltd., Class AR, Series 2020-11A, 2.17%(US0003M+113bps), 10/17/34, Callable 10/17/23 @ 100(a)		502,724
	387,000	Aimco CLO 14, Ltd., Class A, Series 2021-14A, 2.05%(US0003M+99bps), 4/20/34, Callable 4/20/23 @ 100(a)		372,017
	250,000	Allegro CLO XIII, Ltd., Class A, Series 2021-1A, 2.20%(US0003M+114bps), 7/20/34, Callable 7/20/23 @ 100(a)		240,505
	2,812,000	Allegro CLO XIV, Ltd., Class A1, Series 2021-2A, 2.20%(US0003M+116bps), 10/15/34, Callable 10/15/23 @ 100(a)		2,713,226
	624,000	Allegro CLO XV, Ltd., Class A, Series 2022-1A, 3.18%(TSFR3M+150bps), 7/20/35(a)		608,122
	256,000	Ares CLO, Ltd., Class A, Series 2019-54A, 2.36%(US0003M+132bps), 10/15/32, Callable 7/15/22 @ 100(a)		250,056
	853,000	Ares LV CLO, Ltd., Class A1R, Series 2020-55A, 2.17%(US0003M+113bps), 7/15/34, Callable 7/15/23 @ 100(a)		826,197
	273,000	Ares XLI CLO, Ltd., Class AR2, Series 2016-41A, 2.11%(US0003M+107bps), 4/15/34, Callable 4/15/23 @ 100(a)		262,772


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	100,000	BAMLL Commercial Mortgage Securities Trust, Class C, Series 2022-DKLX, 3.43%(TSFR1M+215bps), 1/15/39(a)	$	96,115
	105,000	BAMLL Commercial Mortgage Securities Trust, Class B, Series 2022-DKLX, 2.83%(TSFR1M+155bps), 1/15/39(a)		101,600
	555,000	BAMLL Commercial Mortgage Securities Trust, Class A, Series 2022-DKLX, 2.43%(TSFR1M+115bps), 1/15/39(a)		539,182
	177,000	BAMLL Commercial Mortgage Securities Trust, Class ANM, Series 2019-BPR, 3.11%, 11/5/32(a)		168,823
	30,000	Bank, Class A5, Series 2019-BN21, 2.85%, 10/15/52, Callable 9/15/29 @ 100		27,312
	310,000	Barings CLO, Ltd., Class A, Series 2020-4A, 2.28%(US0003M+122bps), 1/20/32, Callable 7/20/22 @ 100(a)		303,418
	536,000	Barings CLO, Ltd., Class AR, Series 2020-1A, 2.19%(US0003M+115bps), 10/15/36, Callable 10/15/23 @ 100(a)		517,347
	34,000	Benchmark Mortgage Trust, Class A5, Series 2018-B4, 4.12%, 7/15/51(b)		33,656
	808,000	Bethpage Park CLO, Ltd., Class A, Series 2021-1A, 2.17%(US0003M+113bps), 1/15/35, Callable 10/15/23 @ 100(a)		778,087
	139,000	BFLD Trust, Class A, Series 2020-OBRK, 3.37%(US0001M+205bps), 11/15/22(a)		134,189
	1,835,000	BPR Trust, Class A, Series 2022-OANA, 3.18%(TSFR1M+190bps), 4/15/37(a)		1,795,405
	488,000	BPR Trust, Class B, Series 2022-OANA, 3.73%(TSFR1M+245bps), 4/15/37(a)		484,084
	307,861	Bristol Park CLO, Ltd., Class AR, Series 2016-1A, 2.03%(US0003M+99bps), 4/15/29, Callable 7/15/22 @ 100(a)		303,064
	76,300	BX Commercial Mortgage Trust, Class D, Series 2018-EXCL, 3.95%(US0001M+263bps), 9/15/37(a)		63,552
	119,000	BX Commercial Mortgage Trust, Class D, Series 2019-IMC, 3.22%(US0001M+190bps), 4/15/34(a)		113,057
	113,000	BX Commercial Mortgage Trust, Class C, Series 2019-IMC, 2.92%(US0001M+160bps), 4/15/34(a)		108,161
	172,000	BX Commercial Mortgage Trust, Class B, Series 2019-IMC, 2.62%(US0001M+130bps), 4/15/34(a)		165,068
	5,017,000	BX Commercial Mortgage Trust, Class A, Series 2019-IMC, 2.32%(US0001M+100bps), 4/15/34(a)		4,890,613
	155,550	BX Commercial Mortgage Trust, Class C, Series 2019-XL, 2.57%(US0001M+125bps), 10/15/36(a)		150,899
	1,305,487	BX Commercial Mortgage Trust, Class A, Series 2022-LP2, 2.35%(TSFR1M+101bps), 2/15/39(a)		1,247,186
	309,400	BX Commercial Mortgage Trust, Class E, Series 2019-XL, 3.12%(US0001M+180bps), 10/15/36(a)		298,549


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	220,150	BX Commercial Mortgage Trust, Class D, Series 2019-XL, 2.77%(US0001M+145bps), 10/15/36(a)	$	213,013
	393,140	BX Commercial Mortgage Trust, Class B, Series 2022-LP2, 2.65%(TSFR1M+131bps), 2/15/39(a)		374,282
	393,140	BX Commercial Mortgage Trust, Class C, Series 2022-LP2, 2.90%(TSFR1M+156bps), 2/15/39(a)		369,733
	393,140	BX Commercial Mortgage Trust, Class D, Series 2022-LP2, 3.29%(TSFR1M+196bps), 2/15/39(a)		371,259
	124,100	BX Commercial Mortgage Trust, Class B, Series 2019-XL, 2.40%(US0001M+108bps), 10/15/36(a)		121,002
	730,000	BX Mortgage Trust, Class E, Series 2021-PAC, 3.27%(US0001M+195bps), 10/15/36(a)		679,637
	210,000	BX Mortgage Trust, Class D, Series 2021-PAC, 2.62%(US0001M+130bps), 10/15/36(a)		194,137
	1,081,000	BX Mortgage Trust, Class A, Series 2021-PAC, 2.01%(US0001M+69bps), 10/15/36(a)		1,027,351
	216,000	BX Mortgage Trust, Class C, Series 2021-PAC, 2.42%(US0001M+110bps), 10/15/36(a)		201,706
	162,000	BX Mortgage Trust, Class B, Series 2021-PAC, 2.22%(US0001M+90bps), 10/15/36(a)		153,101
	988,000	BX Trust, Class A, Series 2022-IND A, 2.82%(TSFR1M+149bps), 4/15/37(a)		961,255
	114,000	BX Trust, Class C, Series 2022-IND, 3.62%(TSFR1M+229bps), 4/15/37(a)		109,081
	4,962,409	BX Trust, Class A, Series 2021-SOAR, 2.00%(US0001M+67bps), 6/15/38(a)		4,764,161
	95,000	BX Trust, Class D, Series 2022-IND, 4.17%(TSFR1M+284bps), 4/15/37(a)		90,711
	504,000	BX Trust, Class B, Series 2022-IND, 3.27%(TSFR1M+194bps), 4/15/37(a)		487,298
	519,889	Cascade Funding Mortgage Trust, Class A, Series 2021-HB6, 0.90%, 6/25/36, Callable 7/25/22 @ 100(a)(b)		509,724
	17,105,000	Cedar Funding V CLO, Ltd., Class A1R, Series 2016-5A, 2.14%(US0003M+110bps), 7/17/31, Callable 7/17/22 @ 100(a)		16,773,675
	235,000	Cedar Funding VI CLO, Ltd., Class AAA, Series 2016-6A, 2.11%(US0003M+105bps), 4/20/34, Callable 4/20/23 @ 100(a)		224,787
	643,000	Cedar Funding X CLO, Ltd., Class AR, Series 2019-10A, 2.16%(US0003M+110bps), 10/20/32, Callable 10/20/22 @ 100(a)		623,949
	485,000	Cedar Funding XII CLO, Ltd., Class A1R, Series 2020-12A, 2.31%(US0003M+113bps), 10/25/34, Callable 10/25/23 @ 100(a)		466,614
	942,000	Cedar Funding XV CLO, Ltd., Class A, Series 2022-15A, 2.03%(TSFR3M+132bps), 4/20/35, Callable 4/20/24 @ 100(a)		901,348
	402,957	CHC Commercial Mortgage Trust, Class A, Series 2019-CHC, 2.44%(US0001M+112bps), 6/15/34(a)		393,626


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	99,251	CHC Commercial Mortgage Trust, Class B, Series 2019-CHC, 2.82%(US0001M+150bps), 6/15/34(a)	$	96,613
	99,251	CHC Commercial Mortgage Trust, Class C, Series 2019-CHC, 3.07%(US0001M+175bps), 6/15/34(a)		95,611
	153,000	CIM Retail Portfolio Trust, Class D, Series 2021-RETL, 4.38%(US0001M+305bps), 8/15/36(a)		148,918
	45,865	CIM Retail Portfolio Trust, Class C, Series 2021-RETL, 3.62%(US0001M+230bps), 8/15/36(a)		44,847
	791,000	Columbia Cent CLO 29, Ltd., Class AR, Series 2020-29A, 2.23%(US0003M+117bps), 10/20/34, Callable 10/20/23 @ 100(a)		760,217
	410,000	Columbia Cent CLO 30, Ltd., Class A1, Series 2020-30A, 2.37%(US0003M+131bps), 1/20/34, Callable 4/20/23 @ 100(a)		399,233
	310,000	Columbia Cent CLO 31, Ltd., Class A1, Series 2021-31A, 2.26%(US0003M+120bps), 4/20/34, Callable 7/20/23 @ 100(a)		298,669
	920,000	Columbia Cent CLO 32, Ltd., Class A1, Series 2022-32A(TSFR3M+170bps), 7/24/34(a)		911,634
	57,000	Commercial Mortgage Trust, Class A5, Series 2014-CR18, 3.83%, 7/15/47, Callable 6/15/24 @ 100		56,588
	3,686,288	Credit Suisse Mortgage Capital Certificates, Class A, Series 2020-NET, 2.26%, 8/15/37(a)		3,415,641
	243,000	Credit Suisse Mortgage Capital Certificates, Class B, Series 2019-ICE4, 2.55%(US0001M+123bps), 5/15/36(a)		237,231
	100,000	CSMC Trust, Class C, Series 2018, 4.78%, 4/15/36(a)		97,305
	100,000	CSMC Trust, Class B, Series 2018, 4.53%, 4/15/36(a)		97,828
	860,000	CSMC Trust, Class D, Series 2017-PFHP, 3.57%(US0001M+225bps), 12/15/30(a)		856,388
	205,000	CSMC Trust, Class A, Series 2018, 4.28%, 4/15/36(a)		202,220
	100,000	CSMC Trust, Class D, Series 2018, 4.78%, 4/15/36(a)		93,553
	527,000	Dryden 76 CLO, Ltd., Class A1R, Series 2019-76A, 2.21%(US0003M+115bps), 10/20/34, Callable 10/20/23 @ 100(a)		508,795
	577,000	Dryden 83 CLO, Ltd., Class A, Series 2020-83A, 2.26%(US0003M+122bps), 1/18/32, Callable 7/18/22 @ 100(a)		564,480
	723,000	Dryden 85 CLO, Ltd., Class AR, Series 2020-85A, 2.19%(US0003M+115bps), 10/15/35, Callable 10/15/23 @ 100(a)		696,545
	420,000	Dryden 90 CLO, Ltd., Class A1A, Series 2021-90A, 2.61%(US0003M+113bps), 2/20/35, Callable 2/20/24 @ 100(a)		404,132
	250,000	Dryden CLO, Ltd., Class A, Series 2020-78A, 2.22%(US0003M+118bps), 4/17/33, Callable 7/17/22 @ 100(a)		242,868


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	930,000	Eaton Vance CLO, Ltd., Class AR, Series 2020-2A, 2.19%(US0003M+115bps), 1/15/35, Callable 1/15/24 @ 100(a)	$	899,419
	363,000	Eaton Vance CLO, Ltd., Class AR, Series 2019-1A, 2.14%(US0003M+110bps), 4/15/31, Callable 7/15/22 @ 100(a)		354,917
	250,000	Eaton Vance CLO, Ltd., Class A13R, Series 2013-1A, 2.29%(US0003M+125bps), 1/15/34, Callable 1/15/23 @ 100(a)		243,319
	1,469,000	ELP Commercial Mortgage Trust, Class A, Series 2021-ELP, 2.03%(US0001M+70bps), 11/15/36(a)		1,402,880
	531,727	Extended Stay America Trust, Class A, Series 2021-ESH, 2.41%(US0001M+108bps), 7/15/38(a)		518,370
	223,624	Extended Stay America Trust, Class C, Series 2021-ESH, 3.03%(US0001M+170bps), 7/15/38(a)		216,341
	447,247	Extended Stay America Trust, Class D, Series 2021-ESH, 3.58%(US0001M+225bps), 7/15/38(a)		431,545
	303,134	Extended Stay America Trust, Class B, Series 2021-ESH, 2.71%(US0001M+138bps), 7/15/38(a)		294,022
	508,000	Flatiron CLO 20, Ltd., Class A, Series 2020-1A, 2.78%(US0003M+130bps), 11/20/33, Callable 11/20/22 @ 100(a)		493,881
	250,000	Flatiron CLO 21, Ltd., Class A1, Series 2021-1A, 2.15%(US0003M+111bps), 7/19/34, Callable 7/19/23 @ 100(a)		241,049
	643,000	GS Mortgage Securities Corp. Trust, Class A, Series 2021-IP, 2.27%(US0001M+95bps), 10/15/36(a)		619,452
	100,000	GS Mortgage Securities Corp. Trust, Class B, Series 2021-IP, 2.47%(US0001M+115bps), 10/15/36(a)		96,518
	100,000	GS Mortgage Securities Corp. Trust, Class C, Series 2021-IP, 2.87%(US0001M+155bps), 10/15/36(a)		93,560
	556,000	Invesco CLO, Ltd., Class A, Series 2021-3A, 2.27%(US0003M+113bps), 10/22/34, Callable 10/22/23 @ 100(a)		534,021
	64,000	J.P. Morgan Chase Commercial Mortgage Securities Trust, Class DFX, Series 2018-WPT, 5.35%, 7/5/23(a)		61,958
	41,000	J.P. Morgan Chase Commercial Mortgage Securities Trust, Class CFX, Series 2018-WPT, 4.95%, 7/5/23(a)		40,368
	87,000	J.P. Morgan Chase Commercial Mortgage Securities Trust, Class EFX, Series 2018-WPT, 5.54%, 7/5/23(a)		85,692
	1,420,000	Life Mortgage Trust, Class A1, Series 2022-BMR2, 2.57%(TSFR1M+130bps), 5/15/39, Callable 5/15/24 @ 100(a)		1,384,402
	855,000	Life Mortgage Trust, Class B, Series 2022-BMR2, 3.07%(TSFR1M+179bps), 5/15/39, Callable 5/15/24 @ 100(a)		829,279


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	479,000	Life Mortgage Trust, Class C, Series 2022-BMR2, 3.37%(TSFR1M+209bps), 5/15/39, Callable 5/15/24 @ 100(a)	$	462,190
	98,297	Life Mortgage Trust, Class E, Series 2021-BMR, 3.07%(US0001M+175bps), 3/15/38(a)		91,648
	98,297	Life Mortgage Trust, Class D, Series 2021-BMR, 2.72%(US0001M+140bps), 3/15/38(a)		92,903
	98,297	Life Mortgage Trust, Class C, Series 2021-BMR, 2.42%(US0001M+110bps), 3/15/38(a)		93,368
	98,297	Life Mortgage Trust, Class B, Series 2021-BMR, 2.20%(US0001M+88bps), 3/15/38(a)		93,614
	280,147	Life Mortgage Trust, Class A, Series 2021-BMR, 2.02%(US0001M+70bps), 3/15/38(a)		268,571
	426,000	Life Mortgage Trust, Class D, Series 2022-BMR2, 3.82%(TSFR1M+254bps), 5/15/39, Callable 5/15/24 @ 100(a)		406,806
	250,000	Lucali CLO, Ltd., Class A, Series 2020-1A, 2.25%(US0003M+121bps), 1/15/32, Callable 7/15/22 @ 100(a)		243,935
	320,000	Madison Park Funding L, Ltd., Class A, Series 2021-50A, 2.18%(US0003M+114bps), 4/19/34, Callable 4/19/23 @ 100(a)		310,414
	910,000	Madison Park Funding LII, Ltd., Class A, Series 2021-52A, 2.24%(US0003M+110bps), 1/22/35, Callable 1/22/24 @ 100(a)		872,392
	250,000	Madison Park Funding XLV, Ltd., Class AR, Series 2020-45A, 2.16%(US0003M+112bps), 7/15/34, Callable 7/15/23 @ 100(a)		242,288
	232,488	Madison Park Funding, Ltd., Class A1R2, Series 2015-19A, 2.06%(US0003M+92bps), 1/22/28, Callable 7/22/22 @ 100(a)		229,084
	250,000	Magnetite XXI, Ltd., Class AR, Series 2019-21A, 2.08%(US0003M+102bps), 4/20/34, Callable 7/20/22 @ 100(a)		241,079
	280,000	Magnetite XXIX, Ltd., Class A, Series 2021-29A, 2.03%(US0003M+99bps), 1/15/34, Callable 7/15/22 @ 100(a)		272,825
	250,000	Magnetite XXVII, Ltd., Class AR, Series 2020-27A, 2.20%(US0003M+114bps), 10/20/34, Callable 10/20/23 @ 100(a)		241,140
	968,000	Magnetite XXX, Ltd., Class A, Series 2021-30A, 2.31%(US0003M+113bps), 10/25/34, Callable 10/25/23 @ 100(a)		934,459
	260,000	MHC Commercial Mortgage Trust, Class A, Series 2021-MHC, 2.12%(US0001M+80bps), 4/15/38(a)		249,603
	315,000	Milos CLO, Ltd., Class AR, Series 2017-1A, 2.13%(US0003M+107bps), 10/20/30, Callable 7/20/22 @ 100(a)		309,036
	132,000	Morgan Stanley Capital I Trust, Class A4, Series 2018-H4, 4.31%, 12/15/51, Callable 12/15/28 @ 100		130,530
	198,184	Morgan Stanley Capital I Trust, Class B, Series 2018-BOP, 2.57%(US0001M+125bps), 6/15/35(a)		198,668
	476,452	Morgan Stanley Capital I Trust, Class C, Series 2018-BOP, 2.82%(US0001M+150bps), 6/15/35(a)		468,897


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	53,000	Morgan Stanley Capital I Trust, Class C, Series 2019-Mead, 3.28%, 11/10/36, Callable 11/10/24 @ 100(a)(b)	$	50,818
	56,000	Morgan Stanley Capital I Trust, Class B, Series 2019-Mead, 3.18%, 11/10/36, Callable 11/10/24 @ 100(a)		54,231
	385,000	Morgan Stanley Capital I Trust, Class A, Series 2019-Mead, 3.17%, 11/10/36, Callable 11/10/24 @ 100(a)		363,806
	326,000	Peace Park CLO, Ltd., Class A, Series 2021-1A, 2.19%(US0003M+113bps), 10/20/34, Callable 10/20/23 @ 100(a)		315,707
	17,385	Prima Capital CRE Securitization, Class A, Series 2021-9A, 3.05%(US0001M+145bps), 12/15/37(a)		17,385
	333,000	Rockland Park CLO, Ltd., Class A, Series 2021-1A, 2.18%(US0003M+112bps), 4/20/34, Callable 4/20/23 @ 100(a)		322,999
	130,000	SPGN Mortgage Trust, Class C, Series 2022-TFLM, 3.93%(TSFR1M+265bps), 2/15/39, Callable 2/15/24 @ 100(a)		127,035
	250,000	SPGN Mortgage Trust, Class B, Series 2022-TFLM, 3.28%(TSFR1M+200bps), 2/15/39, Callable 2/15/24 @ 100(a)		244,214
	237,000	SREIT Trust, Class D, Series 2021-MFP, 2.90%(US0001M+158bps), 11/15/38(a)		221,601
	360,000	SREIT Trust, Class C, Series 2021-MFP, 2.65%(US0001M+133bps), 11/15/38(a)		337,589
	580,000	SREIT Trust, Class B, Series 2021-MFP, 2.40%(US0001M+108bps), 11/15/38(a)		546,539
	1,013,000	SREIT Trust, Class A, Series 2021-MFP, 2.05%(US0001M+73bps), 11/15/38(a)		961,017
	250,000	Stratus CLO, Ltd., Class A, Series 2022-1A(TSFR3M+175bps), 7/20/30(a)		247,727
	403,000	Symphony CLO XIX, Ltd., Class A, Series 2018-19A, 2.00%(US0003M+96bps), 4/16/31, Callable 7/16/22 @ 100(a)		393,933
	500,000	Symphony CLO XXVI, Ltd., Class AR, Series 2021-26A, 2.14%(US0003M+108bps), 4/20/33, Callable 7/20/22 @ 100(a)		483,644
	1,054,000	Symphony CLO XXXII, Ltd., Class A1, Series 2022-32A, 1.63%(TSFR3M+132bps), 4/23/35(a)		1,007,773
	285,000	VLS Commercial Mortgage Trust, Class A, Series 2020-LAB, 2.13%, 10/10/42(a)		234,991
	20,000	VLS Commercial Mortgage Trust, Class B, Series 2020-LAB, 2.45%, 10/10/42(a)		16,225
	551,000	Voya CLO, Ltd., Class A1R, Series 2020-2A, 2.20%(US0003M+116bps), 7/19/34, Callable 7/19/23 @ 100(a)		533,140
	564,000	Voya CLO, Ltd., Class AR, Series 2020-1A, 2.19%(US0003M+115bps), 7/16/34, Callable 7/16/23 @ 100(a)		544,934
	335,000	Voya CLO, Ltd., Class A, Series 2019-2, 2.33%(US0003M+127bps), 7/20/32, Callable 7/20/22 @ 100(a)		327,539
	1,073,000	Voya CLO, Ltd., Class AR, Series 2020-3A, 2.21%(US0003M+115bps), 10/20/34, Callable 10/20/23 @ 100(a)		1,034,518


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	185,000	Wells Fargo Commercial Mortgage Trust, Class A, Series 2021-FCMT, 2.52%(US0001M+120bps), 5/15/31(a)	$	177,925
	155,000	Wells Fargo Commercial Mortgage Trust, Class A5, Series 2018-C48, 4.30%, 1/15/52, Callable 12/15/28 @ 100		154,568

	Total Collateralized Mortgage Obligations (Cost $85,559,968)			82,594,181

Convertible Bonds (0.1%):
Entertainment (0.0%^†):
	25,000	Live Nation Entertainment, Inc., 2.00%, 2/15/25		25,858

Hotels, Restaurants & Leisure (0.0%^†):
	37,000	Booking Holdings, Inc., 0.75%, 5/1/25^		44,091
	27,000	Vail Resorts, Inc., 3.77%, 1/1/26		23,716

				67,807

Leisure Products (0.0%^†):
	19,000	Callaway Golf Co., 2.75%, 5/1/26		25,875

Media (0.1%):
	54,000	DISH Network Corp., 2.38%, 3/15/24		47,823
	846,000	DISH Network Corp., 3.38%, 8/15/26		568,665

				616,488

Oil, Gas & Consumable Fuels (0.0%^†):
	54,850	Mesquite Energy, Inc., 15.00%, 7/15/23(c)(d)		265,474
	31,702	Mesquite Energy, Inc., 15.00%, 7/15/23(c)(d)		168,337

				433,811

Professional Services (0.0%^†):
	16,000	FTI Consulting, Inc., 2.00%, 8/15/23		28,612
	23,000	KBR, Inc., 2.50%, 11/1/23		44,210

				72,822

Semiconductors & Semiconductor Equipment (0.0%^†):
	8,000	ON Semiconductor Corp., 1.63%, 10/15/23		19,664

	Total Convertible Bonds (Cost $1,081,488)			1,262,325

Bank Loans (0.1%):
Chemicals (0.0%^†):
	14,888	Consolidated Energy Term Incr B 1Ln, 0.04% (LIBOR+350bps)		14,143
	19,950	Diversey Term B 1Ln, 0.03% (LIBOR+300bps), 9/29/28		18,379

				32,522

Construction & Engineering (0.0%^†):
	35,000	Convergint Tech Term 2Ln, 0.07% (LIBOR+675bps), 3/31/29		33,600
	4,963	Convergint Tech Term B 1Ln, 0.04% (LIBOR+350bps), 3/31/28		4,626

				38,226

Diversified Consumer Services (0.0%^†):
	15,000	Ascend Learning Term 2Ln, 0.06% (LIBOR+575bps), 11/18/29		13,725
	164,588	Ascend Learning Term Ln, 0.04% (LIBOR+350bps), 11/17/28		151,626

				165,351

Hotels, Restaurants & Leisure (0.1%):
	249,375	City Football Group Term B 1Ln, 0.04% (LIBOR+350bps), 7/9/28, Callable 8/5/22 @ 100		228,178


Principal Amount			Value
Bank Loans, continued
Hotels, Restaurants & Leisure, continued
$	173,674	Diamond Sports Broadcasting Term B 1Ln, 0.03% (LIBOR+325bps), 8/24/26, Callable 8/5/22 @ 100	$	39,945
	113,342	Golden Entertainment Term B 1Ln, 0.03% (LIBOR+300bps), 10/20/24, Callable 8/5/22 @ 100		110,190

				378,313

Industrial Products (0.0%^†):
	120,000	Brookfield Wec Holdings, Inc., 0.04%, 8/1/25		115,115

Media (0.0%^†):
	124,958	Sinclair Broadcasting, 0.08%, 5/25/26		124,125

Software (0.0%^†):
	3,385	Ion Analytics Term 1Ln, 0.04% (LIBOR+400bps), 2/4/28		3,182

Software & Tech Services (0.0%^†):
	106,884	athenahealth, 0.04%, 2/15/29		98,133
	18,116	athenahealth, 0.04%, 2/15/29		16,633

				114,766

	Total Bank Loans (Cost $1,079,087)			971,600

Corporate Bonds (19.8%):
Aerospace & Defense (0.4%):
	1,145,000	Boeing Co. (The), 5.04%, 5/1/27, Callable 3/1/27 @ 100		1,128,825
	145,000	Boeing Co. (The), 5.15%, 5/1/30, Callable 2/1/30 @ 100		139,116
	1,100,000	Boeing Co. (The), 5.71%, 5/1/40, Callable 11/1/39 @ 100		1,036,229
	100,000	Boeing Co. (The), 5.81%, 5/1/50, Callable 11/1/49 @ 100		92,355
	1,150,000	Boeing Co. (The), 5.93%, 5/1/60, Callable 11/1/59 @ 100		1,072,575
	310,000	BWX Technologies, Inc., 4.13%, 6/30/28, Callable 6/30/23 @ 102.06(a)		272,800
	445,000	BWX Technologies, Inc., 4.13%, 4/15/29, Callable 4/15/24 @ 102.06(a)		392,156
	5,000	Howmet Aerospace, Inc., 5.95%, 2/1/37		4,638
	145,000	Moog, Inc., 4.25%, 12/15/27, Callable 12/15/22 @ 103.19(a)		125,062
	40,000	TransDigm UK Holdings PLC, 6.88%, 5/15/26, Callable 8/8/22 @ 103.44		37,400
	40,000	TransDigm, Inc., 6.38%, 6/15/26, Callable 8/8/22 @ 101.59		37,600
	35,000	TransDigm, Inc., 7.50%, 3/15/27, Callable 8/8/22 @ 103.75		33,075
	1,655,000	TransDigm, Inc., 5.50%, 11/15/27, Callable 11/15/22 @ 102.75		1,400,544
	310,000	TransDigm, Inc., 4.88%, 5/1/29, Callable 5/1/24 @ 102.44		251,100

				6,023,475

Air Freight & Logistics (0.0%^†):
	255,000	Cargo Aircraft Management, Inc., 4.75%, 2/1/28, Callable 2/1/23 @ 102.38(a)		232,050
	237,000	XPO Logistics, Inc., 6.25%, 5/1/25, Callable 8/8/22 @ 103.13(a)		235,222

				467,272


Principal Amount			Value
Corporate Bonds, continued
Auto Components (0.0%^†):
$	125,000	Dana, Inc., 4.50%, 2/15/32, Callable 2/15/27 @ 102.25	$	93,750

Automobiles (0.2%):
	485,000	Magallanes, Inc., 3.43%, 3/15/24(a)		476,490
	265,000	Magallanes, Inc., 3.64%, 3/15/25(a)		257,078
	519,000	Magallanes, Inc., 3.76%, 3/15/27, Callable 2/15/27 @ 100(a)		486,840
	180,000	Magallanes, Inc., 4.05%, 3/15/29, Callable 1/15/29 @ 100(a)		164,874
	753,000	Magallanes, Inc., 4.28%, 3/15/32, Callable 12/15/31 @ 100(a)		672,843
	391,000	Magallanes, Inc., 5.05%, 3/15/42, Callable 9/15/41 @ 100(a)		332,958
	576,000	Magallanes, Inc., 5.14%, 3/15/52, Callable 9/15/51 @ 100(a)		486,630
	40,000	Magic Mergeco, Inc., 5.25%, 5/1/28, Callable 11/1/23 @ 102.63^(a)		31,400
	270,000	Michaels Cos., Inc. (The), 7.88%, 5/1/29, Callable 5/1/24 @ 103.94(a)		178,200
	165,000	Thor Industries, Inc., 4.00%, 10/15/29, Callable 10/15/24 @ 102(a)		129,938
	209,000	Volkswagen Group of America Finance LLC, 3.13%, 5/12/23(a)		207,384

				3,424,635

Banks (1.9%):
	3,840,000	Bank of America Corp., 4.20%, 8/26/24, MTN		3,855,072
	410,000	Bank of America Corp., Series L, 3.95%, 4/21/25, MTN		404,444
	151,000	Bank of America Corp., Series G, 4.45%, 3/3/26		150,247
	1,300,000	Bank of America Corp., 3.42% (US0003M+104 bps), 12/20/28, Callable 12/20/27 @ 100		1,212,930
	980,000	Bank of America Corp., 2.30% (SOFR+122 bps), 7/21/32, Callable 7/21/31 @ 100		793,773
	70,000	CIT Group, Inc., 3.93% (SOFR+4 bps), 6/19/24, Callable 6/19/23 @ 100		69,825
	165,000	CIT Group, Inc., 6.13%, 3/9/28		171,600
	730,000	Citigroup, Inc., Series V, 4.05%, 7/30/22		731,196
	2,455,000	Citigroup, Inc., 3.35% (US0003M+90 bps), 4/24/25, Callable 4/24/24 @ 100		2,415,374
	1,098,000	Citigroup, Inc., 4.30%, 11/20/26		1,083,417
	1,156,000	Citigroup, Inc., 4.41% (SOFR+391 bps), 3/31/31, Callable 3/31/30 @ 100		1,106,049
	1,166,000	Citigroup, Inc., 4.91% (SOFR+209 bps), 5/24/33, Callable 5/24/32 @ 100		1,150,880
	4,105,000	JPMorgan Chase & Co., 3.88%, 9/10/24		4,094,881
	2,500,000	JPMorgan Chase & Co., 4.49% (SOFR+379 bps), 3/24/31, Callable 3/24/30 @ 100		2,456,278
	181,000	JPMorgan Chase & Co., 2.96% (SOFR+252 bps), 5/13/31, Callable 5/13/30 @ 100		156,751
	3,705,000	Wells Fargo & Co., 2.41% (US0003M+83 bps), 10/30/25, Callable 10/30/24 @ 100, MTN		3,537,908
	1,099,000	Wells Fargo & Co., 3.53% (SOFR+151 bps), 3/24/28, Callable 3/24/27 @ 100		1,042,713
	2,645,000	Wells Fargo & Co., 4.48% (US0003M+4 bps), 4/4/31, Callable 4/4/30 @ 100, MTN		2,593,515


Principal Amount			Value
Corporate Bonds, continued
Banks, continued
$	1,800,000	Wells Fargo & Co., 5.01% (US0003M+424 bps), 4/4/51, Callable 4/4/50 @ 100, MTN	$	1,766,428

				28,793,281

Beverages (0.6%):
	2,400,000	Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.70%, 2/1/36, Callable 8/1/35 @ 100		2,321,601
	3,100,000	Anheuser-Busch InBev Worldwide, Inc., 3.50%, 6/1/30, Callable 3/1/30 @ 100		2,913,606
	150,000	Anheuser-Busch InBev Worldwide, Inc., 4.35%, 6/1/40, Callable 12/1/39 @ 100		134,876
	400,000	Anheuser-Busch InBev Worldwide, Inc., 4.50%, 6/1/50, Callable 12/1/49 @ 100		360,636
	333,000	Anheuser-Busch InBev Worldwide, Inc., 4.75%, 4/15/58, Callable 10/15/57 @ 100		300,633
	2,445,000	Anheuser-Busch InBev Worldwide, Inc., 5.80%, 1/23/59, Callable 7/23/58 @ 100		2,563,431
	285,000	Triton Water Holdings, Inc., 6.25%, 4/1/29, Callable 4/1/24 @ 103.13(a)		202,350

				8,797,133

Biotechnology (0.0%^†):
	555,000	Emergent BioSolutions, Inc., 3.88%, 8/15/28, Callable 8/15/23 @ 101.94(a)		394,744

Building Products (0.1%):
	795,000	Advanced Drainage Systems, Inc., 5.00%, 9/30/27, Callable 9/30/22 @ 102.5(a)		732,394
	120,000	Builders FirstSource, Inc., 4.25%, 2/1/32, Callable 8/1/26 @ 102.13(a)		91,200
	35,000	Roller Bearing Co. of America, Inc., 4.38%, 10/15/29, Callable 10/15/24 @ 102.19(a)		29,794

				853,388

Capital Markets (1.7%):
	457,000	Ares Capital Corp., 4.20%, 6/10/24, Callable 5/10/24 @ 100		446,717
	2,707,000	Ares Capital Corp., 3.88%, 1/15/26, Callable 12/15/25 @ 100		2,497,218
	2,052,000	Blackstone Private Credit Fund, 4.70%, 3/24/25(a)		1,976,509
	315,000	Coinbase Global, Inc., 3.38%, 10/1/28, Callable 10/1/24 @ 101.69(a)		196,875
	715,000	Coinbase Global, Inc., 3.63%, 10/1/31, Callable 10/1/26 @ 101.81(a)		396,825
	2,880,000	Goldman Sachs Group, Inc. (The), 3.80%, 3/15/30, Callable 12/15/29 @ 100		2,674,259
	1,263,000	Goldman Sachs Group, Inc. (The), 2.38% (SOFR+125 bps), 7/21/32, Callable 7/21/31 @ 100		1,023,374
	128,000	Goldman Sachs Group, Inc. (The), 6.75%, 10/1/37		142,491
	50,000	HAT Holdings I LLC / HAT Holdings II LLC, 3.38%, 6/15/26, Callable 3/15/26 @ 100(a)		43,000
	55,000	LCM Investments Holdings II LLC, 4.88%, 5/1/29, Callable 5/1/24 @ 102.44(a)		42,075
	55,000	ModivCare Escrow Issuer, Inc., 5.00%, 10/1/29, Callable 10/1/24 @ 102.5(a)		44,550
	1,100,000	Moody’s Corp., 3.75%, 3/24/25, Callable 2/24/25 @ 100		1,099,022


Principal Amount			Value
Corporate Bonds, continued
Capital Markets, continued
$	1,100,000	Moody’s Corp., 3.25%, 1/15/28, Callable 10/15/27 @ 100	$	1,043,908
	6,619,000	Morgan Stanley, 3.74% (US0003M+85 bps), 4/24/24, Callable 4/24/23 @ 100		6,599,130
	2,534,000	Morgan Stanley, 3.62% (SOFR+312 bps), 4/1/31, Callable 4/1/30 @ 100		2,334,141
	380,000	Mozart Debt Merger Sub, Inc., 3.88%, 4/1/29, Callable 10/1/24 @ 101.94(a)		323,000
	150,000	Mozart Debt Merger Sub, Inc., 5.25%, 10/1/29, Callable 10/1/24 @ 102.63^(a)		123,750
	100,000	MSCI, Inc., 3.25%, 8/15/33, Callable 8/15/27 @ 101.63(a)		79,500
	485,000	Navios South American Logistics, Inc. / Navios Logistics Finance US, Inc., 10.75%, 7/1/25, Callable 8/8/22 @ 108.06(a)		457,962
	650,000	Olympus Water US Holding Corp., 4.25%, 10/1/28, Callable 10/1/24 @ 102.13(a)		507,000
	2,296,000	Pine Street Trust I, 4.57%, 2/15/29, Callable 11/15/28 @ 100(a)		2,227,696
	300,000	Pine Street Trust II, 5.57%, 2/15/49, Callable 8/15/48 @ 100(a)		292,629
	15,000	Real Hero Merger Sub 2, Inc., 6.25%, 2/1/29, Callable 2/1/24 @ 103.13(a)		11,362
	35,000	US Renal Care, Inc., 10.63%, 7/15/27, Callable 8/8/22 @ 105.31(a)		12,075
	55,000	Victors Merger Corp., 6.38%, 5/15/29, Callable 5/15/24 @ 103.19(a)		33,550

				24,628,618

Chemicals (0.2%):
	15,000	CF Industries, Inc., 4.95%, 6/1/43		13,500
	510,000	Chemours Co. (The), 5.38%, 5/15/27, Callable 2/15/27 @ 100^		453,262
	915,000	Chemours Co. (The), 5.75%, 11/15/28, Callable 11/15/23 @ 102.88(a)		775,463
	60,000	Diamond BC BV, 4.63%, 10/1/29, Callable 10/1/24 @ 102.31(a)		47,850
	555,000	LSB Industries, Inc., 6.25%, 10/15/28, Callable 10/15/24 @ 103.13(a)		491,175
	375,000	Olin Corp., 5.00%, 2/1/30, Callable 2/1/24 @ 102.5		320,156
	135,000	Scotts Miracle-Gro Co. (The), 4.38%, 2/1/32, Callable 8/1/26 @ 102.19		101,925
	25,000	Valvoline, Inc., 4.25%, 2/15/30, Callable 2/15/25 @ 102.13(a)		20,625
	350,000	Valvoline, Inc., 3.63%, 6/15/31, Callable 6/15/26 @ 101.81(a)		278,250
	350,000	WR Grace Holdings LLC, 5.63%, 10/1/24(a)		346,500
	50,000	WR Grace Holdings LLC, 4.88%, 6/15/27, Callable 6/15/23 @ 102.44(a)		43,503
	125,000	WR Grace Holdings LLC, 5.63%, 8/15/29, Callable 8/15/24 @ 102.81(a)		93,750

				2,985,959

Commercial Services & Supplies (0.1%):
	125,000	ADT Security Corp. (The), 4.13%, 8/1/29, Callable 8/1/28 @ 100(a)		101,875


Principal Amount			Value
Corporate Bonds, continued
Commercial Services & Supplies, continued
$	430,000	Aramark Services, Inc., 5.00%, 2/1/28, Callable 2/1/23 @ 102.5(a)	$	391,300
	615,000	CoreCivic, Inc., 8.25%, 4/15/26, Callable 4/15/24 @ 104.13		600,394
	25,000	Legends Hospitality Holding Co. LLC / Legends Hospitality Co-Issuer, Inc., 5.00%, 2/1/26, Callable 2/1/23 @ 102.5(a)		20,937
	25,000	Pitney Bowes, Inc., 6.88%, 3/15/27, Callable 3/15/24 @ 103.44^(a)		19,719
	45,000	Pitney Bowes, Inc., 7.25%, 3/15/29, Callable 3/15/24 @ 103.63(a)		33,975
	270,000	Stericycle, Inc., 3.88%, 1/15/29, Callable 11/15/23 @ 101.94(a)		220,725

				1,388,925

Communications Equipment (0.1%):
	405,000	CommScope, Inc., 6.00%, 3/1/26, Callable 8/8/22 @ 103(a)		374,625
	205,000	CommScope, Inc., 7.13%, 7/1/28, Callable 7/1/23 @ 103.56^(a)		155,800
	200,000	CommScope, Inc., 4.75%, 9/1/29, Callable 9/1/24 @ 102.38(a)		161,000
	250,000	Viavi Solutions, Inc., 3.75%, 10/1/29, Callable 10/1/24 @ 101.88(a)		212,500

				903,925

Construction & Engineering (0.1%):
	25,000	Arcosa, Inc., 4.38%, 4/15/29, Callable 4/15/24 @ 102.19(a)		21,125
	1,155,000	Brand Industrial Services, Inc., 8.50%, 7/15/25, Callable 8/8/22 @ 102.13(a)		866,250
	270,000	Dycom Industries, Inc., 4.50%, 4/15/29, Callable 4/15/24 @ 102.25(a)		234,900
	55,000	Global Infrastructure Solutions, Inc., 5.63%, 6/1/29, Callable 6/1/24 @ 102.81(a)		42,762
	25,000	Great Lakes Dredge & Dock Corp., 5.25%, 6/1/29, Callable 6/1/24 @ 102.63(a)		21,625
	785,000	Pike Corp., 5.50%, 9/1/28, Callable 9/1/23 @ 102.75(a)		629,963

				1,816,625

Consumer Discretionary Products (0.0%^†):
	275,000	Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc., 4.63%, 1/15/29, Callable 1/15/25 @ 102.31(a)		234,438

Consumer Discretionary Services (0.1%):
	160,000	Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc., 6.75%, 1/15/30, Callable 1/15/25 @ 103.38(a)		122,400
	900,000	NCL Corp., Ltd., 5.88%, 3/15/26, Callable 12/15/25 @ 100(a)		697,500
	250,000	RP Escrow Issuer LLC, 5.25%, 12/15/25, Callable 12/15/22 @ 102.63(a)		216,250

				1,036,150

Consumer Finance (1.5%):
	2,090,000	Ally Financial, Inc., 3.05%, 6/5/23, Callable 5/5/23 @ 100		2,068,676


Principal Amount			Value
Corporate Bonds, continued
Consumer Finance, continued
$	90,000	Ally Financial, Inc., 1.45%, 10/2/23, Callable 9/2/23 @ 100	$	87,041
	100,000	Ally Financial, Inc., 5.13%, 9/30/24		101,500
	224,000	Ally Financial, Inc., 5.80%, 5/1/25, Callable 4/1/25 @ 100		229,001
	1,500,000	Ally Financial, Inc., 5.75%, 11/20/25, Callable 10/21/25 @ 100		1,464,988
	590,000	Ally Financial, Inc., 4.70% (H15T5Y+387 bps), 12/31/99, Callable 5/15/26 @ 100(e)		475,851
	1,513,000	Capital One Financial Corp., 2.60%, 5/11/23, Callable 4/11/23 @ 100		1,500,457
	577,000	Capital One Financial Corp., 2.64% (SOFR+129 bps), 3/3/26, Callable 3/3/25 @ 100		545,582
	2,665,000	Capital One Financial Corp., 3.65%, 5/11/27, Callable 4/11/27 @ 100		2,535,785
	343,000	Capital One Financial Corp., 3.80%, 1/31/28, Callable 12/31/27 @ 100		322,665
	738,000	Capital One Financial Corp., 3.27% (SOFR+179 bps), 3/1/30, Callable 3/1/29 @ 100		653,362
	250,000	Discover Bank, Series B, 4.68% (USSW5+173 bps), 8/9/28, Callable 8/9/23 @ 100		246,259
	2,253,000	Discover Financial Services, 4.50%, 1/30/26, Callable 11/30/25 @ 100		2,220,124
	295,000	Ford Motor Credit Co LLC, 4.13%, 8/17/27, Callable 6/17/27 @ 100		257,317
	550,000	Ford Motor Credit Co LLC, 4.00%, 11/13/30, Callable 8/13/30 @ 100		441,361
	329,000	Ford Motor Credit Co. LLC, 5.58%, 3/18/24, Callable 2/18/24 @ 100		327,413
	968,000	Ford Motor Credit Co. LLC, 4.06%, 11/1/24, Callable 10/1/24 @ 100		917,474
	55,000	Ford Motor Credit Co. LLC, 5.13%, 6/16/25, Callable 5/16/25 @ 100		52,917
	620,000	Ford Motor Credit Co. LLC, 5.11%, 5/3/29, Callable 2/3/29 @ 100		556,510
	2,100,000	General Motors Financial Co., Inc., 4.00%, 1/15/25, Callable 10/15/24 @ 100		2,071,243
	445,000	OneMain Finance Corp., 6.88%, 3/15/25		420,525
	295,000	OneMain Finance Corp., 3.50%, 1/15/27, Callable 1/15/24 @ 101.75		234,525
	155,000	OneMain Finance Corp., 3.88%, 9/15/28, Callable 9/15/24 @ 101.94		118,575
	430,000	OneMain Finance Corp., 4.00%, 9/15/30, Callable 9/15/25 @ 102		316,587
	244,000	Synchrony Financial, 4.38%, 3/19/24, Callable 2/19/24 @ 100		242,956
	797,000	Synchrony Financial, 4.25%, 8/15/24, Callable 5/15/24 @ 100		789,567
	3,605,000	Synchrony Financial, 3.95%, 12/1/27, Callable 9/1/27 @ 100		3,301,463

				22,499,724

Consumer Staple Products (0.1%):
	475,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 5.13%, 2/1/28, Callable 1/1/28 @ 100(a)		461,344


Principal Amount			Value
Corporate Bonds, continued
Consumer Staple Products, continued
$	975,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 5.75%, 4/1/33, Callable 1/1/33 @ 100(a)	$	959,453

				1,420,797

Containers & Packaging (0.0%^†):
	5,000	Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc., 4.13%, 8/15/26, Callable 8/15/22 @ 102.06(a)		4,231
	190,000	Ball Corp., 3.13%, 9/15/31, Callable 6/15/31 @ 100		152,712
	65,000	Graphic Packaging International LLC, 3.75%, 2/1/30, Callable 8/1/29 @ 100(a)		55,169

				212,112

Diversified Consumer Services (0.0%^†):
	232,000	Adtalem Global Education, Inc., 5.50%, 3/1/28, Callable 3/1/24 @ 102.75(a)		207,060
	22,000	Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 6/1/28, Callable 6/1/24 @ 102.31(a)		17,903
	350,000	APX Group, Inc., 6.75%, 2/15/27, Callable 2/15/23 @ 103.38(a)		325,062

				550,025

Diversified Financial Services (0.1%):
	185,000	Acrisure LLC / Acrisure Finance, Inc., 6.00%, 8/1/29, Callable 8/1/24 @ 103(a)		144,763
	38,000	AXA Equitable Holdings, Inc., 3.90%, 4/20/23, Callable 3/20/23 @ 100		38,082
	358,000	Jackson Financial, Inc., 5.17%, 6/8/27, Callable 5/8/27 @ 100		355,415
	452,000	Jackson Financial, Inc., 5.67%, 6/8/32, Callable 3/8/32 @ 100		437,763
	15,000	Level 3 Financing, Inc., 3.63%, 1/15/29, Callable 1/15/24 @ 101.81(a)		11,550
	130,000	OI European Group BV, 4.75%, 2/15/30, Callable 11/15/24 @ 102.38(a)		109,200
	500,000	Peachtree Funding Trust, 3.98%, 2/15/25(a)		495,517
	155,000	Venture Global Calcasieu Pass LLC, 3.88%, 8/15/29, Callable 2/15/29 @ 100(a)		134,462
	150,000	Venture Global Calcasieu Pass LLC, 4.13%, 8/15/31, Callable 2/15/31 @ 100(a)		128,250
	125,000	Venture Global Calcasieu Pass LLC, 3.88%, 11/1/33, Callable 5/1/33 @ 100(a)		102,187

				1,957,189

Diversified Telecommunication Services (0.6%):
	138,000	AT&T, Inc., 4.30%, 2/15/30, Callable 11/15/29 @ 100		134,423
	76,000	AT&T, Inc., 2.55%, 12/1/33, Callable 9/1/33 @ 100		61,605
	400,000	AT&T, Inc., 5.15%, 11/15/46, Callable 5/15/46 @ 100		395,934
	1,200,000	AT&T, Inc., 3.80%, 12/1/57, Callable 6/1/57 @ 100		933,802
	310,000	CenturyLink, Inc., 5.63%, 4/1/25, Callable 1/1/25 @ 100		290,625
	915,000	CenturyLink, Inc., 5.13%, 12/15/26, Callable 12/15/22 @ 102.56(a)		768,600


Principal Amount			Value
Corporate Bonds, continued
Diversified Telecommunication Services, continued
$	10,000	CenturyLink, Inc., Series G, 6.88%, 1/15/28	$	8,762
	55,000	Cogent Communications Group, Inc., 3.50%, 5/1/26, Callable 2/1/26 @ 100(a)		50,531
	25,000	Consolidated Communications, Inc., 5.00%, 10/1/28, Callable 10/1/23 @ 103.75(a)		19,969
	185,000	Front Range BidCo, Inc., 6.13%, 3/1/28, Callable 3/1/23 @ 103.06(a)		133,662
	640,000	Frontier Communications Corp., 5.88%, 10/15/27, Callable 10/15/23 @ 102.94(a)		574,400
	45,000	Frontier Communications Corp., 5.00%, 5/1/28, Callable 5/1/24 @ 102.5(a)		38,419
	45,000	Frontier Communications Corp., 6.75%, 5/1/29, Callable 5/1/24 @ 103.38(a)		36,563
	5,496	Frontier Communications Holdings LLC, 5.88%, 11/1/29, Callable 11/1/24 @ 102.94		4,232
	155,000	Frontier Communications Holdings LLC, 6.00%, 1/15/30, Callable 10/15/24 @ 103(a)		119,737
	60,000	Lumen Technologies, Inc., 5.38%, 6/15/29, Callable 6/15/24 @ 102.69(a)		47,100
	3,725,000	Verizon Communications, Inc., 2.10%, 3/22/28, Callable 1/22/28 @ 100		3,297,489
	209,000	Verizon Communications, Inc., 2.55%, 3/21/31, Callable 12/21/30 @ 100		179,248
	1,250,000	Verizon Communications, Inc., 2.99%, 10/30/56, Callable 4/30/56 @ 100		873,396
	555,000	Windstream Escrow LLC / Windstream Escrow Finance Corp., 7.75%, 8/15/28, Callable 8/15/23 @ 103.88^(a)		445,388
	55,000	Zayo Group Holdings, Inc., 4.00%, 3/1/27, Callable 8/8/22 @ 100(a)		45,512

				8,459,397

Electric Utilities (0.7%):
	782,000	Alabama Power Co., 3.05%, 3/15/32, Callable 12/15/31 @ 100		713,645
	941,000	Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27, Callable 10/15/22 @ 103.38(a)		828,080
	10,000	Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 4.25%, 10/15/27, Callable 10/15/23 @ 102.13(a)		8,650
	155,000	Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 5.88%, 11/1/29, Callable 11/1/24 @ 102.94^(a)		128,262
	165,000	Cleco Corporate Holdings LLC, 3.38%, 9/15/29, Callable 6/15/29 @ 100		146,524
	54,000	Duquesne Light Holdings, Inc., 2.53%, 10/1/30, Callable 7/1/30 @ 100(a)		44,230
	587,000	Duquesne Light Holdings, Inc., 2.78%, 1/7/32, Callable 10/7/31 @ 100(a)		483,738
	1,000,000	Emera US Finance LP, 3.55%, 6/15/26, Callable 3/15/26 @ 100		959,601
	173,000	Exelon Corp., 2.75%, 3/15/27, Callable 2/15/27 @ 100(a)		162,177
	1,075,000	Exelon Corp., 4.05%, 4/15/30, Callable 1/15/30 @ 100		1,026,881


Principal Amount			Value
Corporate Bonds, continued
Electric Utilities, continued
$	210,000	Exelon Corp., 3.35%, 3/15/32, Callable 12/15/31 @ 100(a)	$	188,512
	156,000	Exelon Corp., 4.10%, 3/15/52, Callable 9/15/51 @ 100(a)		134,341
	2,000,000	FirstEnergy Corp., 7.38%, 11/15/31		2,238,068
	255,000	Genesis Energy LP / Genesis Energy Finance Corp., 8.00%, 1/15/27, Callable 1/15/24 @ 104		225,038
	136,000	IPALCO Enterprises, Inc., 3.70%, 9/1/24, Callable 7/1/24 @ 100		134,300
	17,000	NextEra Energy Operating Partners LP, 4.25%, 9/15/24, Callable 7/15/24 @ 100(a)		16,235
	430,000	NRG Energy, Inc., 5.75%, 1/15/28, Callable 1/15/23 @ 102.88		393,450
	20,000	NRG Energy, Inc., 3.38%, 2/15/29, Callable 2/15/24 @ 101.69(a)		16,100
	40,000	NRG Energy, Inc., 3.63%, 2/15/31, Callable 2/15/26 @ 101.81(a)		31,300
	294,886	NSG Holdings LLC/NSG Holdings, Inc., 7.75%, 12/15/25(a)		288,989
	795,000	Pacific Gas and Electric Co., 4.95%, 7/1/50, Callable 1/1/50 @ 100		636,148
	1,370,000	PG&E Corp., 5.00%, 7/1/28, Callable 7/1/23 @ 102.5^		1,171,350
	311,000	PG&E Corp., 5.25%, 7/1/30, Callable 7/1/25 @ 102.63		255,409
	605,000	Vistra Operations Co. LLC, 5.00%, 7/31/27, Callable 7/31/22 @ 102.5(a)		549,037

				10,780,065

Electrical Equipment (0.0%^†):
	55,000	Artera Services LLC, 9.03%, 12/4/25, Callable 2/4/23 @ 104.52(a)		44,413
	65,000	Sensata Technologies BV, 4.00%, 4/15/29, Callable 4/15/24 @ 102(a)		55,087
	310,000	Vertiv Group Corp., 4.13%, 11/15/28, Callable 11/15/24 @ 102.06(a)		251,100

				350,600

Electronic Equipment, Instruments & Components (0.0%^†):
	565,000	II-VI, Inc., 5.00%, 12/15/29, Callable 12/14/24 @ 102.5(a)		493,669

Energy Equipment & Services (0.0%^†):
	400,000	Transocean, Inc., 11.50%, 1/30/27, Callable 7/30/23 @ 105.75(a)		374,000

Entertainment (0.2%):
	310,000	ROBLOX Corp., 3.88%, 5/1/30, Callable 11/1/24 @ 101.94(a)		251,100
	3,000,000	Walt Disney Co. (The), 3.80%, 3/22/30^		2,902,740

				3,153,840

Equity Real Estate Investment Trusts (1.4%):
	371,000	American Homes 4 Rent LP, 3.63%, 4/15/32, Callable 1/15/32 @ 100		326,185
	1,039,000	Brandywine Operating Partners LP, 4.10%, 10/1/24, Callable 7/1/24 @ 100		1,029,088
	1,265,000	Brandywine Operating Partners LP, 3.95%, 11/15/27, Callable 8/15/27 @ 100		1,203,004


Principal Amount			Value
Corporate Bonds, continued
Equity Real Estate Investment Trusts, continued
$	62,000	Brandywine Operating Partners LP, 4.55%, 10/1/29, Callable 7/1/29 @ 100	$	59,360
	355,000	Brixmor Operating Partners LP, 3.85%, 2/1/25, Callable 11/1/24 @ 100		349,858
	68,000	Corporate Office Properties LP, 2.25%, 3/15/26, Callable 2/15/26 @ 100		61,562
	46,000	Corporate Office Properties LP, 2.75%, 4/15/31, Callable 1/15/31 @ 100		37,527
	10,000	Corrections Corp. of America, 4.63%, 5/1/23, Callable 2/1/23 @ 100		9,950
	45,000	CTR Partnership LP / CareTrust Capital Corp., 3.88%, 6/30/28, Callable 3/30/28 @ 100(a)		37,800
	40,000	GEO Group, Inc. (The), 5.88%, 10/15/24, Callable 8/8/22 @ 100.98		35,900
	430,000	Global Net Lease, Inc. / Global Net Lease Operating Partnership LP, 3.75%, 12/15/27, Callable 9/15/27 @ 100(a)		359,888
	66,000	Healthcare Trust of America Holdings LP, 3.50%, 8/1/26, Callable 5/1/26 @ 100		62,911
	63,000	Healthcare Trust of America Holdings LP, 3.10%, 2/15/30, Callable 11/15/29 @ 100		54,429
	400,000	Hudson Pacific Properties LP, 4.65%, 4/1/29, Callable 1/1/29 @ 100		385,094
	735,000	Lexington Realty Trust, 4.40%, 6/15/24, Callable 3/15/24 @ 100		731,240
	114,000	Omega Healthcare Investors, Inc., 4.38%, 8/1/23, Callable 6/1/23 @ 100		114,384
	101,000	Omega Healthcare Investors, Inc., 4.50%, 1/15/25, Callable 10/15/24 @ 100		99,937
	1,278,000	Omega Healthcare Investors, Inc., 4.50%, 4/1/27, Callable 1/1/27 @ 100		1,220,467
	2,482,000	Omega Healthcare Investors, Inc., 3.63%, 10/1/29, Callable 7/1/29 @ 100		2,131,646
	133,000	Omega Healthcare Investors, Inc., 3.38%, 2/1/31, Callable 11/1/30 @ 100		108,134
	189,000	Piedmont Operating Partnership LP, 2.75%, 4/1/32, Callable 1/1/32 @ 100		146,546
	15,000	Retail Properties of America, Inc., 4.75%, 9/15/30, Callable 6/15/30 @ 100		13,998
	1,214,000	Sabra Health Care LP, 3.20%, 12/1/31, Callable 9/1/31 @ 100		967,485
	297,000	SBA Tower Trust, 2.84%, 1/15/25, Callable 1/15/24 @ 100(a)		287,795
	97,000	SBA Tower Trust, 1.88%, 7/15/50, Callable 1/15/25 @ 100(a)		89,740
	74,000	SBA Tower Trust, 2.33%, 7/15/52, Callable 7/15/26 @ 100(a)		66,166
	40,000	Service Properties Trust, 4.95%, 2/15/27, Callable 8/15/26 @ 100		29,350
	40,000	Service Properties Trust, 5.50%, 12/15/27, Callable 9/15/27 @ 100		32,300
	45,000	Service Properties Trust, 4.95%, 10/1/29, Callable 7/1/29 @ 100		30,825
	310,000	Service Properties Trust, 4.38%, 2/15/30, Callable 8/15/29 @ 100		206,925


Principal Amount			Value
Corporate Bonds, continued
Equity Real Estate Investment Trusts, continued
$	96,000	STORE Capital Corp., 4.63%, 3/15/29, Callable 12/15/28 @ 100	$	94,201
	1,277,000	STORE Capital Corp., 2.75%, 11/18/30, Callable 8/18/30 @ 100		1,050,829
	212,000	Sun Communities Operating LP, 2.30%, 11/1/28, Callable 9/1/28 @ 100		181,095
	272,000	Sun Communities Operating LP, 2.70%, 7/15/31, Callable 4/15/31 @ 100		219,730
	2,200,000	Tanger Properties LP, 3.13%, 9/1/26, Callable 6/1/26 @ 100		2,063,096
	581,000	Tanger Properties LP, 2.75%, 9/1/31, Callable 6/1/31 @ 100		457,029
	85,000	The Geo Group, Inc., 6.00%, 4/15/26, Callable 8/8/22 @ 102		69,275
	780,000	Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 7.88%, 2/15/25, Callable 8/8/22 @ 103.94(a)		752,700
	355,000	Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 1/15/30, Callable 1/15/25 @ 103(a)		247,612
	131,000	Ventas Realty LP, 4.00%, 3/1/28, Callable 12/1/27 @ 100		124,846
	367,000	Ventas Realty LP, 3.00%, 1/15/30, Callable 10/15/29 @ 100		322,684
	1,430,000	Ventas Realty LP, 4.75%, 11/15/30, Callable 8/15/30 @ 100		1,400,112
	60,000	Vici Properties, 3.50%, 2/15/25, Callable 8/8/22 @ 101.75(a)		56,175
	335,000	Vici Properties, 4.25%, 12/1/26, Callable 12/1/22 @ 102.13(a)		304,850
	93,000	VICI Properties LP, 4.38%, 5/15/25		91,024
	100,000	VICI Properties LP, 5.13%, 5/15/32, Callable 2/15/32 @ 100		94,000
	72,000	Vornado Realty LP, 2.15%, 6/1/26, Callable 5/1/26 @ 100		64,348
	400,000	WP Carey, Inc., 4.60%, 4/1/24, Callable 1/1/24 @ 100		399,489
	3,000,000	WP Carey, Inc., 4.25%, 10/1/26, Callable 7/1/26 @ 100		2,967,270
	66,000	WP Carey, Inc., 3.85%, 7/15/29, Callable 4/15/29 @ 100		61,663

				21,311,522

Financial Services (0.1%):
	70,000	Clydesdale Acquisition Holdings, Inc., 6.63%, 4/15/29, Callable 4/15/25 @ 103.31(a)		65,800
	120,000	Cobra AcquisitionCo LLC, 6.38%, 11/1/29, Callable 11/1/24 @ 103.25(a)		90,000
	640,000	Hightower Holding LLC, 6.75%, 4/15/29, Callable 4/15/24 @ 103.38(a)		480,000
	70,000	Jane Street Group/JSG Finance, Inc., 4.50%, 11/15/29, Callable 11/15/24 @ 102.25(a)		62,300

				698,100

Food & Staples Retailing (0.1%):
	25,000	Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 4.63%, 1/15/27, Callable 1/15/23 @ 103.47(a)		22,313


Principal Amount			Value
Corporate Bonds, continued
Food & Staples Retailing, continued
$	50,000	Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 3.50%, 3/15/29, Callable 9/15/23 @ 101.75(a)	$	40,250
	605,000	Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 4.88%, 2/15/30, Callable 2/15/25 @ 103.66(a)		515,762
	445,000	Performance Food Group, Inc., 6.88%, 5/1/25, Callable 8/8/22 @ 103.44(a)		442,775
	335,000	Performance Food Group, Inc., 5.50%, 10/15/27, Callable 10/15/22 @ 102.75(a)		309,038
	70,000	Performance Food Group, Inc., 4.25%, 8/1/29, Callable 8/1/24 @ 102.13(a)		58,450
	93,000	Sysco Corp., 5.95%, 4/1/30, Callable 1/1/30 @ 100		99,676
	140,000	Sysco Corp., 6.60%, 4/1/50, Callable 10/1/49 @ 100		162,256
	45,000	United Natural Foods, Inc., 6.75%, 10/15/28, Callable 10/15/23 @ 103.38(a)		41,906
	160,000	US Foods, Inc., 4.75%, 2/15/29, Callable 2/15/24 @ 102.38(a)		139,400
	60,000	US Foods, Inc., 4.63%, 6/1/30, Callable 6/1/25 @ 102.31(a)		51,000

				1,882,826

Food Products (0.3%):
	110,000	C&S Group Enterprises LLC, 5.00%, 12/15/28, Callable 12/15/23 @ 102.5(a)		80,987
	1,380,000	JBS Finance Luxembourg Sarl, 2.50%, 1/15/27, Callable 12/15/26 @ 100(a)		1,201,273
	154,000	JBS Finance Luxembourg Sarl, 3.63%, 1/15/32, Callable 1/15/27 @ 101.81(a)		124,355
	170,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 6.50%, 4/15/29, Callable 4/15/24 @ 103.25(a)		171,063
	880,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 5.50%, 1/15/30, Callable 1/15/25 @ 102.75(a)		831,600
	1,375,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 3.00%, 5/15/32, Callable 2/15/32 @ 100(a)		1,055,313
	350,000	Pilgrim’s Pride Corp., 4.25%, 4/15/31, Callable 4/15/26 @ 102.13(a)		292,250
	45,000	Post Holdings, Inc., 5.63%, 1/15/28, Callable 12/1/22 @ 102.81(a)		42,694
	405,000	Post Holdings, Inc., 4.50%, 9/15/31, Callable 9/15/26 @ 102.25(a)		332,100
	270,000	TreeHouse Foods, Inc., 4.00%, 9/1/28, Callable 9/1/23 @ 102		219,375

				4,351,010

Health Care (0.0%^†):
	200,000	180 Medical, Inc., 3.88%, 10/15/29, Callable 10/7/24 @ 101.94(a)		173,000

Health Care Equipment & Supplies (0.1%):
	400,000	Hologic, Inc., 4.63%, 2/1/28, Callable 2/1/23 @ 102.31(a)		374,500
	350,000	Hologic, Inc., 3.25%, 2/15/29, Callable 9/28/23 @ 101.63(a)		299,250

				673,750


Principal Amount			Value
Corporate Bonds, continued
Health Care Providers & Services (1.3%):
$	140,000	AHP Health Partners, Inc., 5.75%, 7/15/29, Callable 7/15/24 @ 102.88(a)	$	104,825
	35,000	Cano Health LLC, 6.25%, 10/1/28, Callable 10/1/24 @ 103.13^(a)		28,350
	3,765,000	Centene Corp., 4.25%, 12/15/27, Callable 12/15/22 @ 102.13		3,501,450
	1,485,000	Centene Corp., 2.45%, 7/15/28, Callable 5/15/28 @ 100		1,239,975
	1,190,000	Centene Corp., 4.63%, 12/15/29, Callable 12/15/24 @ 102.31		1,103,725
	245,000	Centene Corp., 3.38%, 2/15/30, Callable 2/15/25 @ 101.69		206,719
	610,000	Centene Corp., 2.63%, 8/1/31, Callable 5/1/31 @ 100		484,187
	255,000	CHS/Community Health Systems, Inc., 5.63%, 3/15/27, Callable 12/15/23 @ 102.81(a)		215,794
	255,000	CHS/Community Health Systems, Inc., 6.00%, 1/15/29, Callable 1/15/24 @ 103(a)		210,375
	385,000	CHS/Community Health Systems, Inc., 6.13%, 4/1/30, Callable 4/1/25 @ 103.06(a)		234,850
	285,000	CHS/Community Health Systems, Inc., 5.25%, 5/15/30, Callable 5/15/25 @ 102.63(a)		216,600
	45,000	CHS/Community Health Systems, Inc., 4.75%, 2/15/31, Callable 2/15/26 @ 102.38(a)		33,300
	4,341,000	Cigna Corp., 4.38%, 10/15/28, Callable 7/15/28 @ 100		4,302,139
	1,000,000	Cigna Corp., 4.90%, 12/15/48, Callable 6/15/48 @ 100		964,325
	605,000	Community Health Systems, Inc., 8.00%, 3/15/26, Callable 8/8/22 @ 104(a)		547,525
	780,000	DaVita, Inc., 4.63%, 6/1/30, Callable 6/1/25 @ 102.31(a)		604,500
	780,000	HCA, Inc., 5.38%, 2/1/25		776,100
	534,000	HCA, Inc., 5.63%, 9/1/28, Callable 3/1/28 @ 100		523,320
	357,000	HCA, Inc., 5.88%, 2/1/29, Callable 8/1/28 @ 100		357,000
	1,029,000	HCA, Inc., 3.50%, 9/1/30, Callable 3/1/30 @ 100		878,509
	50,000	HealthEquity, Inc., 4.50%, 10/1/29, Callable 10/1/24 @ 102.25(a)		43,625
	314,000	Humana, Inc., 3.70%, 3/23/29, Callable 2/23/29 @ 100		297,701
	40,000	Molina Healthcare, Inc., 3.88%, 11/15/30, Callable 8/17/30 @ 100(a)		34,200
	170,000	Molina Healthcare, Inc., 3.88%, 5/15/32, Callable 2/15/32 @ 100(a)		143,225
	25,000	Owens & Minor, Inc., 4.50%, 3/31/29, Callable 3/31/24 @ 102.25^(a)		20,375
	416,000	Radiology Partners, Inc., 9.25%, 2/1/28, Callable 2/1/23 @ 104.63(a)		309,920
	255,000	Surgery Center Holdings, Inc., 6.75%, 7/1/25, Callable 8/8/22 @ 100(a)		233,006
	600,000	Tenet Healthcare Corp., 4.88%, 1/1/26, Callable 8/8/22 @ 102.44(a)		552,000
	590,000	Tenet Healthcare Corp., 6.25%, 2/1/27, Callable 8/8/22 @ 103.13(a)		544,275
	510,000	Tenet Healthcare Corp., 6.13%, 10/1/28, Callable 10/1/23 @ 103.06(a)		436,687


Principal Amount			Value
Corporate Bonds, continued
Health Care Providers & Services, continued
$	295,000	Tenet Healthcare Corp., 4.25%, 6/1/29, Callable 6/1/24 @ 102.13(a)	$	249,275
	140,000	Tenet Healthcare Corp., 4.38%, 1/15/30, Callable 12/1/24 @ 102.19(a)		118,300
	117,000	Toledo Hospital (The), Series B, 5.33%, 11/15/28		111,490

				19,627,647

Hotels, Restaurants & Leisure (0.3%):
	15,000	Affinity Gaming, 6.88%, 12/15/27, Callable 12/1/23 @ 103.44(a)		12,562
	445,000	Boyd Gaming Corp., 4.75%, 12/1/27, Callable 12/1/22 @ 102.38		402,169
	145,000	Caesars Entertainment, Inc., 4.63%, 10/15/29, Callable 10/15/24 @ 102.31(a)		112,375
	350,000	Carnival Corp., 10.50%, 2/1/26, Callable 8/1/23 @ 105.25(a)		348,250
	565,000	Carnival Corp., 7.63%, 3/1/26, Callable 3/1/24 @ 101.91^(a)		437,875
	245,000	Carnival Corp., 10.50%, 6/1/30, Callable 6/1/25 @ 105.25(a)		201,512
	125,000	Carrols Restaurant Group, Inc., 5.88%, 7/1/29, Callable 7/1/24 @ 102.94(a)		91,094
	765,000	Golden Entertainment, Inc., 7.63%, 4/15/26, Callable 8/8/22 @ 103.81(a)		757,350
	40,000	Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 5.00%, 6/1/29, Callable 6/1/24 @ 102.5(a)		32,350
	75,000	Jacobs Entertainment, Inc., 6.75%, 2/15/29, Callable 2/15/25 @ 103.38(a)		61,500
	45,000	Life Time, Inc., 5.75%, 1/15/26, Callable 1/15/23 @ 102.88(a)		40,388
	40,000	Marriott Ownership Resorts, Inc., 4.50%, 6/15/29, Callable 6/15/24 @ 102.25(a)		33,200
	170,000	NCL Corp., Ltd., 5.88%, 2/15/27, Callable 2/15/24 @ 102.94(a)		145,323
	20,000	NCL Finance, Ltd., 6.13%, 3/15/28, Callable 12/15/27 @ 100(a)		14,550
	20,000	Peninsula Pacific Entert, 8.50%, 11/15/27, Callable 11/15/23 @ 104.25(a)		21,000
	20,000	Royal Caribbean Cruises, Ltd., 9.13%, 6/15/23, Callable 3/15/23 @ 100(a)		19,800
	280,000	Royal Caribbean Cruises, Ltd., 11.50%, 6/1/25, Callable 7/18/22 @ 108.63(a)		287,700
	310,000	Royal Caribbean Cruises, Ltd., 5.50%, 8/31/26, Callable 2/28/26 @ 100(a)		228,625
	115,000	Royal Caribbean Cruises, Ltd., 5.38%, 7/15/27, Callable 10/15/26 @ 100(a)		82,513
	510,000	Station Casinos LLC, 4.50%, 2/15/28, Callable 2/15/23 @ 102.25(a)		428,400
	255,000	Viking Cruises, Ltd., 13.00%, 5/15/25, Callable 7/22/22 @ 109.75(a)		260,737
	255,000	Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.50%, 3/1/25, Callable 12/1/24 @ 100(a)		233,325
	390,000	Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.25%, 5/15/27, Callable 2/15/27 @ 100(a)		332,475
	350,000	Yum! Brands, Inc., 4.63%, 1/31/32, Callable 10/1/26 @ 102.31		308,000

				4,893,073


Principal Amount			Value
Corporate Bonds, continued
Household Durables (0.1%):
$	65,000	Ambience Merger Sub, Inc., 4.88%, 7/15/28, Callable 7/15/23 @ 102.44(a)	$	47,450
	70,000	Ashton Woods USA LLC / Ashton Woods Finance Co., 4.63%, 4/1/30, Callable 4/1/25 @ 102.31(a)		50,925
	150,000	Century Communities, Inc., 3.88%, 8/15/29, Callable 2/15/29 @ 100(a)		117,375
	295,000	LBM Acquisition LLC, 6.25%, 1/15/29, Callable 1/15/24 @ 103.13(a)		186,956
	10,000	Newell Brands, Inc., 5.38%, 4/1/36, Callable 10/1/35 @ 100		8,575
	90,000	Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 4.75%, 4/30/27, Callable 10/15/23 @ 102.38(a)		74,588
	15,000	Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 6.00%, 2/15/28, Callable 2/15/24 @ 103(a)		10,969
	510,000	Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 10.75%, 6/1/28, Callable 6/1/23 @ 105.38(a)		448,800
	130,000	Tempur Sealy International, Inc., 3.88%, 10/15/31, Callable 10/15/26 @ 101.94(a)		97,500
	265,000	TopBuild Corp., 4.13%, 2/15/32, Callable 10/15/26 @ 102.06(a)		205,706

				1,248,844

Household Products (0.0%^†):
	55,000	Central Garden & Pet Co., 4.13%, 4/30/31, Callable 4/30/26 @ 102.06(a)		44,275

Independent Power and Renewable Electricity Producers (0.2%):
	1,457,000	AES Corp. (The), 3.30%, 7/15/25, Callable 6/15/25 @ 100(a)		1,379,942
	1,412,000	AES Corp. (The), 3.95%, 7/15/30, Callable 4/15/30 @ 100(a)		1,307,834
	30,000	Clearway Energy Operating LLC, 4.75%, 3/15/28, Callable 3/15/23 @ 103.56(a)		27,000
	35,000	Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 8/15/28, Callable 8/15/23 @ 103.38(a)		30,625
	85,000	Sunnova Energy Corp., 5.88%, 9/1/26, Callable 9/1/23 @ 102.94^(a)		74,375
	15,000	TerraForm Power Operating LLC, 5.00%, 1/31/28, Callable 7/31/27 @ 100(a)		13,575

				2,833,351

Industrial Conglomerates (0.2%):
	1,750,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., 6.25%, 5/15/26, Callable 8/8/22 @ 103.13		1,627,500
	1,165,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., 5.25%, 5/15/27, Callable 11/15/26 @ 100		1,031,025

				2,658,525

Industrial Services (0.0%^†):
	465,000	Minerva Merger Sub, Inc., 6.50%, 2/15/30, Callable 2/15/25 @ 103.25(a)		385,950
	190,000	Railworks Holdings LP/Railworks Rally, Inc., 8.25%, 11/15/28, Callable 11/15/24 @ 104.13(a)		171,000

				556,950


Principal Amount			Value
Corporate Bonds, continued
Insurance (0.5%):
$	395,000	Acrisure LLC / Acrisure Finance, Inc., 4.25%, 2/15/29, Callable 2/15/24 @ 102.13(a)	$	319,950
	600,000	American International Group, Inc., 2.50%, 6/30/25, Callable 5/30/25 @ 100		573,962
	70,000	AmWINS Group, Inc., 4.88%, 6/30/29, Callable 6/30/24 @ 102.44(a)		57,400
	40,000	AssuredPartners, Inc., 5.63%, 1/15/29, Callable 12/15/23 @ 102.81(a)		31,900
	70,000	BroadStreet Partners, Inc., 5.88%, 4/15/29, Callable 4/15/24 @ 102.94(a)		54,600
	242,000	Corebridge Financial, Inc., 3.50%, 4/4/25, Callable 3/4/25 @ 100(a)		235,614
	824,000	Corebridge Financial, Inc., 3.65%, 4/5/27, Callable 3/5/27 @ 100(a)		775,112
	339,000	Corebridge Financial, Inc., 3.85%, 4/5/29, Callable 2/5/29 @ 100(a)		313,992
	404,000	Corebridge Financial, Inc., 3.90%, 4/5/32, Callable 1/5/32 @ 100(a)		365,052
	92,000	Corebridge Financial, Inc., 4.35%, 4/5/42, Callable 10/5/41 @ 100(a)		78,471
	271,000	Corebridge Financial, Inc., 4.40%, 4/5/52, Callable 10/5/51 @ 100(a)		228,323
	2,771,000	Five Corners Funding Trust II, 2.85%, 5/15/30, Callable 2/15/30 @ 100(a)		2,403,842
	115,000	HUB International, Ltd., 7.00%, 5/1/26, Callable 7/18/22 @ 101.75(a)		107,812
	105,000	HUB International, Ltd., 5.63%, 12/1/29, Callable 12/1/24 @ 102.81(a)		87,150
	436,000	Pacific Lifecorp, 5.13%, 1/30/43(a)		425,474
	185,000	Ryan Specialty Group LLC, 4.38%, 2/1/30, Callable 2/1/25 @ 102.19(a)		160,719
	227,000	Unum Group, 4.00%, 6/15/29, Callable 3/15/29 @ 100		215,854
	1,000,000	Unum Group, 5.75%, 8/15/42		941,612
	685,000	USI, Inc., 6.88%, 5/1/25, Callable 8/8/22 @ 100(a)		658,456

				8,035,295

Interactive Media & Services (0.0%^†):
	190,000	Match Group Holdings II LLC, 3.63%, 10/1/31, Callable 10/1/26 @ 101.81(a)		149,625
	25,000	Match Group, Inc., 4.13%, 8/1/30, Callable 5/1/25 @ 102.06^(a)		20,937
	525,000	Rackspace Technology Global, Inc., 3.50%, 2/15/28, Callable 2/15/24 @ 101.75(a)		412,125
	60,000	Rackspace Technology Global, Inc., 5.38%, 12/1/28, Callable 12/1/23 @ 102.69(a)		39,225

				621,912

IT Services (0.1%):
	25,000	Arches Buyer, Inc., 4.25%, 6/1/28, Callable 12/1/23 @ 102.13(a)		20,187
	10,000	Arches Buyer, Inc., 6.13%, 12/1/28, Callable 12/1/23 @ 103.06(a)		8,050
	470,000	Black Knight InfoServ LLC, 3.63%, 9/1/28, Callable 9/1/23 @ 101.81(a)		406,550
	15,000	Booz Allen Hamilton, Inc., 4.00%, 7/1/29, Callable 7/1/24 @ 102(a)		13,162


Principal Amount			Value
Corporate Bonds, continued
IT Services, continued
$	550,000	Colt Merger Sub, Inc., 8.13%, 7/1/27, Callable 7/1/23 @ 104.06(a)	$	529,375
	255,000	Gartner, Inc., 4.50%, 7/1/28, Callable 7/1/23 @ 102.25(a)		231,413
	45,000	Gartner, Inc., 3.75%, 10/1/30, Callable 10/1/25 @ 101.88(a)		38,306
	40,000	Square, Inc., 2.75%, 6/1/26, Callable 5/1/26 @ 100(a)		35,400
	40,000	Square, Inc., 3.50%, 6/1/31, Callable 3/1/31 @ 100^(a)		32,000
	35,000	Twilio, Inc., 3.63%, 3/15/29, Callable 3/15/24 @ 101.81		29,444
	35,000	Twilio, Inc., 3.88%, 3/15/31, Callable 3/15/26 @ 101.94^		28,744

				1,372,631

Leisure Products (0.0%^†):
	202,000	Hasbro, Inc., 3.00%, 11/19/24, Callable 10/19/24 @ 100		197,709
	5,000	Mattel, Inc., 5.88%, 12/15/27, Callable 12/15/22 @ 104.41(a)		4,862

				202,571

Life Sciences Tools & Services (0.0%^†):
	510,000	Avantor Funding, Inc., 4.63%, 7/15/28, Callable 7/15/23 @ 102.31(a)		466,650
	15,000	Charles River Laboratories International, Inc., 4.25%, 5/1/28, Callable 5/1/23 @ 102.13(a)		13,481
	30,000	Charles River Laboratories International, Inc., 3.75%, 3/15/29, Callable 3/15/24 @ 101.88(a)		25,988

				506,119

Machinery (0.1%):
	55,000	GrafTech Finance, Inc., 4.63%, 12/15/28, Callable 12/15/23 @ 102.31(a)		44,550
	170,000	ITT Holdings LLC, 6.50%, 8/1/29, Callable 8/1/24 @ 103.25(a)		136,000
	230,000	Madison IAQ LLC, 4.13%, 6/30/28, Callable 6/30/24 @ 102.06(a)		190,325
	650,000	Madison IAQ LLC, 5.88%, 6/30/29, Callable 6/30/24 @ 102.94(a)		492,375
	45,000	Mueller Water Products, Inc., 4.00%, 6/15/29, Callable 6/15/24 @ 102(a)		39,150

				902,400

Materials (0.0%^†):
	200,000	Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 6.00%, 6/15/27, Callable 6/15/24 @ 103(a)		197,500

Media (1.2%):
	45,000	ABG Intermediate Holdings 2 LLC, 5.00%, 12/21/28, Callable 8/5/22 @ 100		41,962
	615,000	Advantage Sales & Marketing, Inc., 6.50%, 11/15/28, Callable 11/15/23 @ 103.25(a)		525,056
	255,000	Allen Media LLC / Allen Media Co-Issuer, Inc., 10.50%, 2/15/28, Callable 2/15/23 @ 113(a)		133,237
	25,000	Austin BidCo, Inc., 7.13%, 12/15/28, Callable 12/15/23 @ 103.56(a)		20,000


Principal Amount			Value
Corporate Bonds, continued
Media, continued
$	20,000	Cablevision Lightpath LLC, 3.88%, 9/15/27, Callable 9/15/23 @ 101.94(a)	$	16,400
	15,000	Cablevision Lightpath LLC, 5.63%, 9/15/28, Callable 9/15/23 @ 102.81(a)		11,625
	1,250,000	CCO Holdings LLC / CCO Holdings Capital Corp., 4.75%, 3/1/30, Callable 9/1/24 @ 102.38(a)		1,065,625
	65,000	CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 8/15/30, Callable 2/15/25 @ 102.25(a)		54,113
	390,000	CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 5/1/32, Callable 5/1/26 @ 102.25		313,950
	270,000	CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 6/1/33, Callable 6/1/27 @ 102.25(a)		212,625
	1,500,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 4.91%, 7/23/25, Callable 4/23/25 @ 100		1,505,168
	813,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 4.40%, 4/1/33, Callable 1/1/33 @ 100		726,606
	1,000,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 5.38%, 5/1/47, Callable 11/1/46 @ 100		862,428
	1,064,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 5.25%, 4/1/53, Callable 10/1/52 @ 100		908,773
	1,064,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 5.50%, 4/1/63, Callable 10/1/62 @ 100		908,898
	1,130,000	CSC Holdings LLC, 5.75%, 1/15/30, Callable 1/15/25 @ 102.88(a)		822,075
	335,000	CSC Holdings LLC, 4.13%, 12/1/30, Callable 12/1/25 @ 102.06(a)		256,275
	680,000	Diamond Sports Group LLC / Diamond Sports Finance Co., 5.38%, 8/15/26, Callable 8/15/22 @ 102.69(a)		166,600
	2,346,000	Discovery Communications LLC, 3.63%, 5/15/30, Callable 2/15/30 @ 100		2,085,383
	392,000	Discovery Communications LLC, 4.65%, 5/15/50, Callable 11/15/49 @ 100		311,952
	605,000	DISH DBS Corp., 7.75%, 7/1/26		473,412
	65,000	Fox Corp., 4.03%, 1/25/24, Callable 12/25/23 @ 100		65,039
	1,094,000	Fox Corp., 4.71%, 1/25/29, Callable 10/25/28 @ 100		1,075,209
	93,000	Fox Corp., 5.48%, 1/25/39, Callable 7/25/38 @ 100		90,728
	140,000	Gray Television, Inc., 4.75%, 10/15/30, Callable 10/15/25 @ 102.38(a)		109,900
	430,000	Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 9/15/26, Callable 9/15/23 @ 102.25(a)		367,650
	525,000	Radiate Holdco LLC/Radiate Finance, Inc., 6.50%, 9/15/28, Callable 9/15/23 @ 103.25(a)		404,250
	95,000	Sirius XM Radio, Inc., 3.13%, 9/1/26, Callable 9/1/23 @ 101.56(a)		83,837
	270,000	Sirius XM Radio, Inc., 5.00%, 8/1/27, Callable 8/8/22 @ 102.5(a)		249,750
	30,000	Sirius XM Radio, Inc., 5.50%, 7/1/29, Callable 7/1/24 @ 102.75(a)		27,450


Principal Amount			Value
Corporate Bonds, continued
Media, continued
$	25,000	Sirius XM Radio, Inc., 4.13%, 7/1/30, Callable 7/1/25 @ 102.06(a)	$	20,938
	185,000	Sirius XM Radio, Inc., 3.88%, 9/1/31, Callable 9/1/26 @ 101.94(a)		148,000
	350,000	TEGNA, Inc., 4.75%, 3/15/26, Callable 3/15/23 @ 102.38(a)		336,000
	230,000	Terrier Media Buyer, Inc., 8.88%, 12/15/27, Callable 12/15/22 @ 104.44(a)		184,000
	69,000	Time Warner Cable LLC, 5.50%, 9/1/41, Callable 3/1/41 @ 100		60,440
	1,620,000	Time Warner Cable, Inc., 6.55%, 5/1/37		1,629,218
	280,000	Time Warner Cable, Inc., 7.30%, 7/1/38		293,303
	435,000	Univision Communications, Inc., 6.63%, 6/1/27, Callable 6/1/23 @ 103.31(a)		411,075
	245,000	Univision Communications, Inc., 4.50%, 5/1/29, Callable 5/1/24 @ 102.25(a)		205,187

				17,184,137

Metals & Mining (0.1%):
	45,000	Alcoa Nederland Holding BV, 4.13%, 3/31/29, Callable 3/31/24 @ 102.06(a)		40,275
	686,000	Allegheny Technologies, Inc., 5.88%, 12/1/27, Callable 12/1/22 @ 102.94		613,112
	60,000	Allegheny Technologies, Inc., 4.88%, 10/1/29, Callable 10/1/24 @ 102.44		47,906
	45,000	Allegheny Technologies, Inc., 5.13%, 10/1/31, Callable 10/1/26 @ 102.56		35,663
	45,000	Cleveland-Cliffs, Inc., 4.63%, 3/1/29, Callable 3/1/24 @ 102.31(a)		39,881
	45,000	Cleveland-Cliffs, Inc., 4.88%, 3/1/31, Callable 3/1/26 @ 102.44^(a)		39,600
	60,000	Commercial Metals Co., 4.13%, 1/15/30, Callable 1/15/25 @ 102.06		51,300
	60,000	Commercial Metals Co., 4.38%, 3/15/32, Callable 3/15/27 @ 102.19		50,700
	485,000	Kaiser Aluminun Corp., 4.63%, 3/1/28, Callable 3/1/23 @ 102.31(a)		402,550
	125,000	Novelis Corp., 3.88%, 8/15/31, Callable 8/15/26 @ 101.94(a)		95,938

				1,416,925

Mortgage Real Estate Investment Trusts (0.0%^†):
	40,000	Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp, 4.75%, 6/15/29, Callable 6/15/24 @ 102.38(a)		30,800
	45,000	Starwood Property Trust, Inc., 4.75%, 3/15/25, Callable 9/15/24 @ 100		41,119

				71,919

Multi-Utilities (0.2%):
	1,100,000	NiSource, Inc., 2.95%, 9/1/29, Callable 6/1/29 @ 100		972,577
	1,000,000	NiSource, Inc., 5.25%, 2/15/43, Callable 8/15/42 @ 100		966,956
	140,000	Puget Energy, Inc., 4.10%, 6/15/30, Callable 3/15/30 @ 100		130,043
	714,000	Puget Energy, Inc., 4.22%, 3/15/32, Callable 12/15/31 @ 100		660,048

				2,729,624


Principal Amount			Value
Corporate Bonds, continued
Oil & Gas (0.1%):
$	110,000	Holly Energy Partners LP / Holly Energy Finance Corp., 6.38%, 4/15/27, Callable 4/15/24 @ 103.19(a)	$	103,400
	125,000	Kinetik Holdings LP, 5.88%, 6/15/30, Callable 6/15/25 @ 102.94(a)		118,681
	1,200,000	Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 7.50%, 10/1/25, Callable 10/1/22 @ 105.63(a)		1,176,000

				1,398,081

Oil, Gas & Consumable Fuels (2.0%):
	45,000	Apache Corp., 5.10%, 9/1/40, Callable 3/1/40 @ 100		37,969
	10,000	Apache Corp., 7.38%, 8/15/47		9,858
	145,000	Cheniere Energy Partners LP, 4.00%, 3/1/31, Callable 3/1/26 @ 102		123,431
	125,000	Cheniere Energy Partners LP, 3.25%, 1/31/32, Callable 1/31/27 @ 101.63(a)		98,125
	247,000	Chevron Phillips Chemical Co. LLC/Chevron Phillips Chemical Co. LP, 5.13%, 4/1/25, Callable 3/1/25 @ 100(a)		255,058
	375,000	CITGO Petroleum Corp., 6.38%, 6/15/26, Callable 6/15/23 @ 103.19(a)		345,938
	50,000	Cnx Midstream Partners LP, 4.75%, 4/15/30, Callable 4/15/25 @ 102.38(a)		41,125
	20,000	CNX Resources Corp., 6.00%, 1/15/29, Callable 1/15/24 @ 104.5^(a)		18,600
	65,000	Colgate Energy Partners III LLC, 5.88%, 7/1/29, Callable 7/1/24 @ 102.94(a)		56,956
	305,000	Comstock Resources, Inc., 6.75%, 3/1/29, Callable 3/1/24 @ 103.38(a)		272,975
	25,000	Comstock Resources, Inc., 5.88%, 1/15/30, Callable 1/15/25 @ 102.94(a)		21,500
	485,000	Continental Resources, Inc., 5.75%, 1/15/31, Callable 7/15/30 @ 100(a)		468,025
	42,000	Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 5.75%, 4/1/25, Callable 8/8/22 @ 101.44		39,270
	795,000	Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 6.00%, 2/1/29, Callable 2/1/24 @ 103(a)		693,637
	605,000	CVR Energy, Inc., 5.25%, 2/15/25, Callable 7/22/22 @ 102.63(a)		553,575
	20,000	CVR Energy, Inc., 5.75%, 2/15/28, Callable 2/15/23 @ 102.88(a)		17,900
	230,000	DCP Midstream Operating LP, 5.38%, 7/15/25, Callable 4/15/25 @ 100		223,675
	2,905,000	DCP Midstream Operating LP, 5.63%, 7/15/27, Callable 4/15/27 @ 100		2,777,906
	700,000	DCP Midstream Operating LP, 5.85% (US0003M+385 bps), 5/21/43, Callable 5/21/23 @ 100(a)		582,750
	25,000	Delek Logistics Partners LP / Delek Logistics Finance Corp., 7.13%, 6/1/28, Callable 6/1/24 @ 103.56(a)		22,625
	26,000	Devon Energy Corp., 5.25%, 10/15/27, Callable 10/15/22 @ 102.63		26,065


Principal Amount			Value
Corporate Bonds, continued
Oil, Gas & Consumable Fuels, continued
$	40,000	DT Midstream, Inc., 4.13%, 6/15/29, Callable 6/15/24 @ 102.06(a)	$	33,800
	124,000	Enable Midstream Partners LP, 3.90%, 5/15/24, Callable 2/15/24 @ 100		122,752
	20,000	Endeavor Energy Resources LP/EER Finance, Inc., 6.63%, 7/15/25, Callable 7/15/22 @ 103.31(a)		20,050
	295,000	Endeavor Energy Resources LP/EER Finance, Inc., 5.75%, 1/30/28, Callable 1/30/23 @ 102.88(a)		278,775
	2,229,000	Energy Transfer LP, 4.95%, 6/15/28, Callable 3/15/28 @ 100		2,198,351
	106,000	Energy Transfer LP, 5.25%, 4/15/29, Callable 1/15/29 @ 100		105,205
	1,908,000	Energy Transfer LP, 5.00%, 5/15/50, Callable 11/15/49 @ 100		1,626,570
	52,000	Energy Transfer Operating LP, 4.25%, 3/15/23, Callable 12/15/22 @ 100		51,675
	65,000	Energy Transfer Operating LP, 4.50%, 4/15/24, Callable 3/15/24 @ 100		64,919
	109,000	Energy Transfer Operating LP, 3.75%, 5/15/30, Callable 2/15/30 @ 100		98,372
	73,000	Energy Transfer Operating LP, 6.25%, 4/15/49, Callable 10/15/48 @ 100		70,810
	67,000	Energy Transfer Partners LP, 4.20%, 9/15/23, Callable 8/15/23 @ 100		67,084
	128,000	Energy Transfer Partners LP, 5.80%, 6/15/38, Callable 12/15/37 @ 100		120,160
	83,000	Energy Transfer Partners LP, 6.00%, 6/15/48, Callable 12/15/47 @ 100		78,227
	350,000	EnLink Midstream LLC, 5.63%, 1/15/28, Callable 7/15/27 @ 100(a)		319,375
	255,000	EQM Midstream Partners LP, 7.50%, 6/1/27, Callable 6/1/24 @ 103.75(a)		244,800
	50,000	EQM Midstream Partners LP, 6.50%, 7/1/27, Callable 1/1/27 @ 100(a)		46,500
	45,000	EQM Midstream Partners LP, 4.50%, 1/15/29, Callable 7/15/28 @ 100(a)		36,450
	295,000	EQT Corp., 3.90%, 10/1/27, Callable 7/1/27 @ 100		275,088
	30,000	EQT Corp., 5.00%, 1/15/29, Callable 7/15/28 @ 100		29,025
	650,000	Hess Corp., 4.30%, 4/1/27, Callable 1/1/27 @ 100		631,312
	71,000	Hess Corp., 7.30%, 8/15/31		79,076
	50,000	Hess Corp., 7.13%, 3/15/33		55,125
	1,869,000	Hess Corp., 5.60%, 2/15/41		1,824,611
	1,166,000	Hess Corp., 5.80%, 4/1/47, Callable 10/1/46 @ 100		1,164,543
	405,000	Hess Midstream Operations LP, 5.63%, 2/15/26, Callable 8/8/22 @ 102.81(a)		385,763
	80,000	Hess Midstream Operations LP, 4.25%, 2/15/30, Callable 2/15/25 @ 102.13(a)		67,600
	97,000	Kinder Morgan Energy Partners LP, 3.45%, 2/15/23, Callable 11/15/22 @ 100		97,093
	125,000	Leeward Renewable Energy Operations LLC, 4.25%, 7/1/29, Callable 7/1/24 @ 102.13(a)		99,375
	113,000	MPLX LP, 4.50%, 7/15/23, Callable 4/15/23 @ 100		113,282
	159,000	MPLX LP, 4.88%, 12/1/24, Callable 9/1/24 @ 100		159,994


Principal Amount			Value
Corporate Bonds, continued
Oil, Gas & Consumable Fuels, continued
$	390,000	Murphy Oil Corp., 5.88%, 12/1/27, Callable 12/1/22 @ 102.94	$	364,162
	400,000	New Fortress Energy, Inc., 6.75%, 9/15/25, Callable 9/15/22 @ 103.38(a)		377,000
	250,000	New Fortress Energy, Inc., 6.50%, 9/30/26, Callable 3/31/23 @ 103.25(a)		226,250
	375,000	NGL Energy Operating LLC / NGL Energy Finance Corp., 7.50%, 2/1/26, Callable 2/1/23 @ 103.75(a)		337,500
	1,506,000	Occidental Petroleum Corp., 5.55%, 3/15/26, Callable 12/15/25 @ 100		1,490,940
	310,000	Occidental Petroleum Corp., 3.50%, 8/15/29, Callable 5/15/29 @ 100		275,900
	255,000	Occidental Petroleum Corp., 8.88%, 7/15/30, Callable 1/15/30 @ 100		291,975
	1,464,000	Occidental Petroleum Corp., 7.50%, 5/1/31		1,577,460
	16,000	Occidental Petroleum Corp., 7.88%, 9/15/31		17,560
	78,000	Occidental Petroleum Corp., 6.45%, 9/15/36		80,048
	30,000	Occidental Petroleum Corp., 4.30%, 8/15/39, Callable 2/15/39 @ 100		24,450
	25,000	Occidental Petroleum Corp., 6.20%, 3/15/40		24,688
	410,000	Occidental Petroleum Corp., 6.60%, 3/15/46, Callable 9/15/45 @ 100		435,625
	295,000	Occidental Petroleum Corp., 4.40%, 4/15/46, Callable 10/15/45 @ 100		238,950
	430,000	Occidental Petroleum Corp., 4.10%, 2/15/47, Callable 8/15/46 @ 100		333,250
	55,000	Occidental Petroleum Corp., 4.20%, 3/15/48, Callable 9/15/47 @ 100		44,550
	65,000	Occidental Petroleum Corp., 4.40%, 8/15/49, Callable 2/15/49 @ 100		52,000
	605,000	PBF Holding Co. LLC / PBF Finance Corp., 9.25%, 5/15/25, Callable 7/11/22 @ 104.63(a)		633,738
	80,000	PBF Holding Co. LLC / PBF Finance Corp., 6.00%, 2/15/28, Callable 2/15/23 @ 103		67,200
	20,000	PDC Energy, Inc., 5.75%, 5/15/26, Callable 8/8/22 @ 102.88		18,600
	20,000	Phillips 66, 3.70%, 4/6/23		19,953
	26,000	Phillips 66, 3.85%, 4/9/25, Callable 3/9/25 @ 100		25,876
	1,172,000	Plains All Amer Pipeline, 3.60%, 11/1/24, Callable 8/1/24 @ 100		1,149,314
	270,000	Range Resources Corp., 4.88%, 5/15/25, Callable 2/15/25 @ 100		261,900
	335,000	Sabine Pass Liquefaction LLC, 4.50%, 5/15/30, Callable 11/15/29 @ 100		321,181
	278,000	Sanchez Energy Corp., 7.25%, 2/15/23, Callable 7/14/22 @ 100(d)(e)		—
	10,000	SM Energy Co., 5.63%, 6/1/25, Callable 8/8/22 @ 100.94		9,450
	50,000	SM Energy Co., 6.75%, 9/15/26, Callable 8/8/22 @ 103.38		47,500
	130,000	Southwestern Energy Co., 4.75%, 2/1/32, Callable 2/1/27 @ 102.38		110,175
	5,000	Sunoco LP/Sunoco Finance Corp., 6.00%, 4/15/27, Callable 8/8/22 @ 103		4,750
	242,000	Sunoco LP/Sunoco Finance Corp., 5.88%, 3/15/28, Callable 3/15/23 @ 102.94		222,035


Principal Amount			Value
Corporate Bonds, continued
Oil, Gas & Consumable Fuels, continued
$	430,000	Sunoco LP/Sunoco Finance Corp., 4.50%, 5/15/29, Callable 5/15/24 @ 102.25	$	356,900
	350,000	Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.00%, 12/31/30, Callable 12/31/25 @ 103(a)		290,500
	25,000	Targa Resources Partners LP / Targa Resources Partners Finance Corp., 5.50%, 3/1/30, Callable 3/1/25 @ 102.75		23,594
	445,000	Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.88%, 2/1/31, Callable 2/1/26 @ 102.44		404,950
	45,000	Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.00%, 1/15/32, Callable 7/15/26 @ 102		38,362
	43,000	Transcontinental Gas Pipe Line Co. LLC, 3.25%, 5/15/30, Callable 2/15/30 @ 100		38,666
	11,000	Valero Energy Corp., 2.85%, 4/15/25, Callable 3/15/25 @ 100		10,636
	40,000	Western Gas Partners LP, 3.95%, 6/1/25, Callable 3/1/25 @ 100		38,000
	137,000	Western Gas Partners LP, 4.65%, 7/1/26, Callable 4/1/26 @ 100		129,465
	1,000,000	Western Gas Partners LP, 4.50%, 3/1/28, Callable 12/1/27 @ 100		910,000
	66,000	Western Gas Partners LP, 4.75%, 8/15/28, Callable 5/15/28 @ 100		60,390
	1,000,000	Western Midstream Operating LP, 4.35%, 2/1/25, Callable 1/1/25 @ 100		925,000
	525,000	Western Midstream Operating LP, 5.30%, 2/1/30, Callable 11/1/29 @ 100		459,375
	162,000	Williams Partners LP, 4.50%, 11/15/23, Callable 8/15/23 @ 100		163,212
	285,000	Williams Partners LP, 4.30%, 3/4/24, Callable 12/4/23 @ 100		286,449

				30,472,204

Paper & Forest Products (0.0%^†):
	100,000	Glatfelter Corp., 4.75%, 11/15/29, Callable 11/1/24 @ 102.38(a)		69,500
	45,000	Mercer International, Inc., 5.13%, 2/1/29, Callable 2/1/24 @ 102.56		38,475

				107,975

Personal Products (0.0%^†):
	125,000	BellRing Brands, Inc., 7.00%, 3/15/30, Callable 3/15/27 @ 101.75(a)		117,500

Pharmaceuticals (0.3%):
	390,000	Bausch Health Cos, Inc., 5.25%, 1/30/30, Callable 1/30/25 @ 102.63(a)		202,800
	1,000,000	Bayer US Finance II LLC, 4.25%, 12/15/25, Callable 10/15/25 @ 100(a)		988,142
	445,000	Catalent Pharma Solutions, Inc., 3.13%, 2/15/29, Callable 2/15/24 @ 101.56(a)		365,456
	115,000	Catalent Pharma Solutions, Inc., 3.50%, 4/1/30, Callable 4/1/25 @ 101.75(a)		94,300
	180,000	Elanco Animal Health, Inc., 5.27%, 8/28/23, Callable 7/28/23 @ 100		182,866


Principal Amount			Value
Corporate Bonds, continued
Pharmaceuticals, continued
$	76,000	Elanco Animal Health, Inc., 5.90%, 8/28/28, Callable 5/28/28 @ 100	$	72,390
	30,000	Jazz Securities DAC, 4.38%, 1/15/29, Callable 7/15/24 @ 102.19(a)		26,700
	30,000	Organon & Co. / Organon Foreign Debt Co-Issuer BV, 4.13%, 4/30/28, Callable 4/30/24 @ 102.06(a)		26,325
	540,000	Organon & Co. / Organon Foreign Debt Co-Issuer BV, 5.13%, 4/30/31, Callable 4/30/26 @ 102.56(a)		472,500
	40,000	Viatris, Inc., 1.65%, 6/22/25, Callable 5/22/25 @ 100		36,414
	1,406,000	Viatris, Inc., 2.70%, 6/22/30, Callable 3/22/30 @ 100		1,142,796
	90,000	Viatris, Inc., 3.85%, 6/22/40, Callable 12/22/39 @ 100		65,151

				3,675,840

Professional Services (0.1%):
	140,000	Asgn, Inc., 4.63%, 5/15/28, Callable 5/15/23 @ 102.31(a)		120,400
	335,000	Nielsen Finance LLC/Nielsen Finance Co., 5.63%, 10/1/28, Callable 10/1/23 @ 102.81(a)		311,131
	335,000	Nielsen Finance LLC/Nielsen Finance Co., 5.88%, 10/1/30, Callable 10/1/25 @ 102.94(a)		309,457

				740,988

Real Estate (0.2%):
	550,000	Invitation Homes Operating Partnership LP, 4.15%, 4/15/32, Callable 1/15/32 @ 100		499,348
	250,000	Realogy Group LLC / Realogy Co-Issuer Corp., 5.25%, 4/15/30, Callable 4/15/25 @ 102.63(a)		184,375
	731,000	VICI Properties LP, 4.75%, 2/15/28, Callable 1/15/28 @ 100		696,278
	1,082,000	VICI Properties LP, 4.95%, 2/15/30, Callable 12/15/29 @ 100		1,015,728
	25,000	VICI Properties LP / VICI Note Co., Inc., 4.63%, 6/15/25, Callable 3/15/25 @ 100(a)		23,781
	765,000	VICI Properties LP / VICI Note Co., Inc., 4.50%, 9/1/26, Callable 6/1/26 @ 100(a)		703,800

				3,123,310

Real Estate Management & Development (0.1%):
	210,000	CBRE Services, Inc., 2.50%, 4/1/31, Callable 1/1/31 @ 100		171,824
	175,000	Kennedy-Wilson, Inc., 4.75%, 2/1/30, Callable 9/1/24 @ 102.38		138,031
	145,000	Realogy Group LLC / Realogy Co-Issuer Corp., 5.75%, 1/15/29, Callable 1/15/24 @ 102.88(a)		110,744
	725,000	TK Elevator US Newco, Inc., 5.25%, 7/15/27, Callable 7/15/23 @ 102.63(a)		641,625

				1,062,224

Retail & Whsle — Discretionary (0.0%^†):
	35,000	MIWD Holdco II LLC / MIWD Finance Corp., 5.50%, 2/1/30, Callable 2/1/25 @ 102.75(a)		28,175

Road & Rail (0.0%^†):
	135,000	Uber Technologies, Inc., 4.50%, 8/15/29, Callable 8/15/24 @ 102.25(a)		110,363


Principal Amount			Value
Corporate Bonds, continued
Semiconductors & Semiconductor Equipment (0.4%):
$	65,000	Broadcom, Inc., 1.95%, 2/15/28, Callable 12/15/27 @ 100(a)	$	55,362
	4,136,000	Broadcom, Inc., 2.45%, 2/15/31, Callable 11/15/30 @ 100(a)		3,329,881
	564,000	Broadcom, Inc., 2.60%, 2/15/33, Callable 11/15/32 @ 100(a)		434,251
	1,648,000	Broadcom, Inc., 3.50%, 2/15/41, Callable 8/15/40 @ 100(a)		1,256,109
	210,000	Broadcom, Inc., 3.75%, 2/15/51, Callable 8/15/50 @ 100(a)		156,673
	310,000	Entegris, Inc., 4.38%, 4/15/28, Callable 4/15/23 @ 102.19(a)		274,350
	375,000	Entegris, Inc., 3.63%, 5/1/29, Callable 5/1/24 @ 102.72(a)		312,187
	50,000	ON Semiconductor Corp., 3.88%, 9/1/28, Callable 9/1/23 @ 101.94(a)		44,125

				5,862,938

Software (0.4%):
	40,000	Acuris Finance US, Inc. / Acuris Finance SARL, 5.00%, 5/1/28, Callable 5/1/24 @ 102.5(a)		32,600
	35,000	Boxer Parent Co., Inc., 7.13%, 10/2/25, Callable 8/8/22 @ 103.56(a)		33,250
	220,000	CDK Global, Inc., 5.25%, 5/15/29, Callable 5/15/24 @ 102.63(a)		218,900
	25,000	Clarivate Science Holdings Corp., 3.88%, 7/1/28, Callable 6/30/24 @ 101.94(a)		20,906
	25,000	Clarivate Science Holdings Corp., 4.88%, 7/1/29, Callable 6/30/24 @ 102.44(a)		20,313
	65,000	Elastic NV, 4.13%, 7/15/29, Callable 7/15/24 @ 102.06(a)		54,112
	150,000	Fair Isaac Corp., 4.00%, 6/15/28, Callable 12/15/22 @ 102(a)		132,750
	220,000	MicroStrategy, Inc., 6.13%, 6/15/28, Callable 6/15/24 @ 103.06^(a)		176,000
	253,000	Oracle Corp., 1.65%, 3/25/26, Callable 2/25/26 @ 100		226,886
	2,200,000	Oracle Corp., 2.80%, 4/1/27, Callable 2/1/27 @ 100		2,013,389
	400,000	Oracle Corp., 2.30%, 3/25/28, Callable 1/25/28 @ 100		345,207
	2,990,000	Oracle Corp., 2.88%, 3/25/31, Callable 12/25/30 @ 100		2,467,465

				5,741,778

Specialty Retail (0.4%):
	80,000	Asbury Automotive Group, Inc., 4.63%, 11/15/29, Callable 11/15/24 @ 102.31(a)		65,600
	85,000	Asbury Automotive Group, Inc., 5.00%, 2/15/32, Callable 11/15/26 @ 102.5(a)		69,488
	32,000	AutoNation, Inc., 4.75%, 6/1/30, Callable 3/1/30 @ 100		30,212
	49,000	AutoZone, Inc., 3.63%, 4/15/25, Callable 3/15/25 @ 100		48,482
	1,229,000	AutoZone, Inc., 4.00%, 4/15/30, Callable 1/15/30 @ 100		1,170,090


Principal Amount			Value
Corporate Bonds, continued
Specialty Retail, continued
$	120,000	Carvana Co., 5.88%, 10/1/28, Callable 10/1/23 @ 104.41(a)	$	75,900
	125,000	Carvana Co., 10.25%, 5/1/30, Callable 5/1/27 @ 105.13(a)		101,250
	65,000	Foot Locker, Inc., 4.00%, 10/1/29, Callable 10/1/24 @ 102(a)		49,075
	125,000	Gap, Inc. (The), 3.88%, 10/1/31, Callable 10/1/26 @ 101.94(a)		87,188
	565,000	L Brands, Inc., 6.63%, 10/1/30, Callable 10/1/25 @ 103.31(a)		480,250
	80,000	Lowe’s Cos., Inc., 3.35%, 4/1/27, Callable 3/1/27 @ 100		76,913
	1,165,000	Lowe’s Cos., Inc., 4.50%, 4/15/30, Callable 1/15/30 @ 100		1,153,762
	246,000	Lowe’s Cos., Inc., 3.75%, 4/1/32, Callable 1/1/32 @ 100		228,642
	1,003,000	Lowe’s Cos., Inc., 4.25%, 4/1/52, Callable 10/1/51 @ 100		873,059
	1,138,000	Lowe’s Cos., Inc., 4.45%, 4/1/62, Callable 10/1/61 @ 100		976,033
	20,000	Party City Holdings, Inc., 8.75%, 2/15/26, Callable 8/15/23 @ 104.38(a)		13,450
	15,000	Rent-A-Center, Inc., 6.38%, 2/15/29, Callable 2/15/24 @ 103.19^(a)		11,662
	85,000	Victoria’s Secret & Co., 4.63%, 7/15/29, Callable 7/15/24 @ 102.31(a)		63,963

				5,575,019

Technology Hardware, Storage & Peripherals (0.1%):
	320,000	Dell International LLC/EMC Corp., 5.45%, 6/15/23, Callable 4/15/23 @ 100		323,553
	55,000	Dell International LLC/EMC Corp., 5.85%, 7/15/25, Callable 6/15/25 @ 100		56,779
	83,000	Dell International LLC/EMC Corp., 6.02%, 6/15/26, Callable 3/15/26 @ 100		85,991
	101,000	Dell International LLC/EMC Corp., 6.10%, 7/15/27, Callable 5/15/27 @ 100		105,920
	87,000	Dell International LLC/EMC Corp., 6.20%, 7/15/30, Callable 4/15/30 @ 100		90,843

				663,086

Telecommunications (0.0%^†):
	305,000	Cogent Communications Group, Inc., 7.00%, 6/15/27, Callable 6/15/24 @ 103.5(a)		291,275
	145,000	Frontier Communications Holdings LLC, 8.75%, 5/15/30, Callable 5/15/25 @ 104.38(a)		146,088

				437,363

Textiles, Apparel & Luxury Goods (0.0%^†):
	130,000	Crocs, Inc., 4.13%, 8/15/31, Callable 8/15/26 @ 102.06(a)		91,000
	40,000	Kontoor Brands, Inc., 4.13%, 11/15/29, Callable 11/15/24 @ 102.06(a)		31,600
	45,000	Levi Strauss & Co., 3.50%, 3/1/31, Callable 3/1/26 @ 101.75(a)		36,562
	235,000	Wolverine World Wide, Inc., 4.00%, 8/15/29, Callable 8/15/24 @ 102(a)		188,588

				347,750


Principal Amount			Value
Corporate Bonds, continued
Tobacco (0.1%):
$	294,000	Altria Group, Inc., 4.25%, 8/9/42	$	217,716
	191,000	Altria Group, Inc., 4.50%, 5/2/43		144,913
	175,000	Altria Group, Inc., 5.38%, 1/31/44		152,784
	72,000	Altria Group, Inc., 5.95%, 2/14/49, Callable 8/14/48 @ 100		63,887
	232,000	Reynolds American, Inc., 4.45%, 6/12/25, Callable 3/12/25 @ 100		231,224
	120,000	Reynolds American, Inc., 5.70%, 8/15/35, Callable 2/15/35 @ 100		112,753
	45,000	Turning Point Brands, Inc., 5.63%, 2/15/26, Callable 2/15/23 @ 102.81(a)		40,162

				963,439

Trading Companies & Distributors (0.2%):
	295,000	Air Lease Corp., 4.25%, 2/1/24, Callable 1/1/24 @ 100		292,501
	2,465,000	Air Lease Corp., 3.38%, 7/1/25, Callable 6/1/25 @ 100		2,319,587
	30,000	Foundation Building Materials, Inc., 6.00%, 3/1/29, Callable 3/1/24 @ 103(a)		21,900
	30,000	SRS Distribution, Inc., 4.63%, 7/1/28, Callable 7/1/24 @ 102.31(a)		26,250
	15,000	SRS Distribution, Inc., 6.13%, 7/1/29, Callable 7/1/24 @ 103.06(a)		11,775
	90,000	SRS Distribution, Inc., 6.00%, 12/1/29, Callable 12/1/24 @ 103(a)		70,650

				2,742,663

Wireless Telecommunication Services (0.4%):
	1,155,000	Sprint Capital Corp., 8.75%, 3/15/32		1,387,444
	1,265,000	Sprint Communications, Inc., 6.88%, 11/15/28		1,328,250
	2,860,000	T-Mobile USA, Inc., 3.75%, 4/15/27, Callable 2/15/27 @ 100		2,754,248
	40,000	T-Mobile USA, Inc., 4.75%, 2/1/28, Callable 2/1/23 @ 102.38		38,700
	45,000	T-Mobile USA, Inc., 3.38%, 4/15/29, Callable 4/15/24 @ 101.69		39,498
	430,000	T-Mobile USA, Inc., 3.88%, 4/15/30, Callable 1/15/30 @ 100		402,489
	56,000	T-Mobile USA, Inc., 4.38%, 4/15/40, Callable 10/15/39 @ 100		49,994
	110,000	T-Mobile USA, Inc., 4.50%, 4/15/50, Callable 10/15/49 @ 100		97,824

				6,098,447

	Total Corporate Bonds (Cost $340,898,382)			295,556,785

Yankee Debt Obligations (6.0%):
Aerospace & Defense (0.1%):
	2,000,000	Avolon Holdings Funding, Ltd., 2.88%, 2/15/25, Callable 1/15/25 @ 100(a)		1,835,000
	34,000	Bombardier, Inc., 7.50%, 3/15/25, Callable 8/8/22 @ 101.25(a)		30,727
	500,000	Bombardier, Inc., 7.13%, 6/15/26, Callable 6/15/23 @ 103.56(a)		408,750
	620,000	Bombardier, Inc., 6.00%, 2/15/28, Callable 2/15/24 @ 103(a)		461,900

				2,736,377


Principal Amount			Value
Yankee Debt Obligations, continued
Airlines (0.0%^†):
$	240,000	VistaJet Malta Finance PLC / XO Management Holding, Inc., 7.88%, 5/1/27, Callable 5/1/24 @ 103.94(a)	$	211,800
	215,000	VistaJet Malta Finance PLC / XO Management Holding, Inc., 6.38%, 2/1/30, Callable 2/1/25 @ 103.19(a)		171,731

				383,531

Banks (1.9%):
	585,000	Barclays plc, 4.38%, 1/12/26		577,450
	2,543,000	Barclays plc, 2.85% (US0003M+245 bps), 5/7/26, Callable 5/7/25 @ 100		2,402,540
	2,377,000	Barclays plc, 5.09% (US0003M+305 bps), 6/20/30, Callable 6/20/29 @ 100		2,263,646
	200,000	Commonwealth Bank of Australia, 3.61%, 9/12/34, Callable 9/12/29 @ 100(a)		178,772
	530,000	Cooperatieve Rabobank UA, 4.38%, 8/4/25		524,920
	205,000	HSBC Holdings plc, 4.25%, 3/14/24		204,238
	1,000,000	HSBC Holdings plc, 4.95%, 3/31/30		988,170
	200,000	Intesa Sanpaolo SpA, 5.02%, 6/26/24(a)		192,324
	6,069,000	Intesa Sanpaolo SpA, 5.71%, 1/15/26(a)		5,732,747
	3,200,000	Natwest Group plc, 5.13%, 5/28/24		3,215,395
	2,550,000	Royal Bank of Scotland Group plc, 6.13%, 12/15/22		2,564,874
	547,000	Royal Bank of Scotland Group plc, 6.10%, 6/10/23		555,417
	2,625,000	Royal Bank of Scotland Group plc, 6.00%, 12/19/23		2,670,300
	680,000	Societe Generale SA, 1.04% (H15T1Y+75 bps), 6/18/25, Callable 6/18/24 @ 100^(a)		636,482
	3,863,000	Societe Generale SA, 1.49% (H15T1Y+110 bps), 12/14/26, Callable 12/14/25 @ 100(a)		3,411,744
	186,000	Westpac Banking Corp., 4.11% (H15T5Y+200 bps), 7/24/34, Callable 7/24/29 @ 100		170,816

				26,289,835

Biotechnology (0.0%^†):
	200,000	Grifols Escrow Issuer SA, 4.75%, 10/15/28, Callable 10/15/24 @ 102.38(a)		173,500

Capital Markets (1.2%):
	787,000	Credit Suisse Group AG, 3.80%, 6/9/23		782,137
	4,009,000	Credit Suisse Group AG, 2.59% (SOFR+156 bps), 9/11/25, Callable 9/11/24 @ 100(a)		3,770,789
	2,514,000	Credit Suisse Group AG, 4.19% (SOFR+373 bps), 4/1/31, Callable 4/1/30 @ 100(a)		2,235,409
	670,000	Credit Suisse Group Funding Guernsey, Ltd., 3.80%, 9/15/22		669,861
	470,000	Credit Suisse Group Funding Guernsey, Ltd., 3.75%, 3/26/25		456,419
	860,000	Deutsche Bank AG, 3.30%, 11/16/22		858,749
	4,610,000	Deutsche Bank AG, 4.50%, 4/1/25^		4,391,804
	774,000	UBS Group AG, 1.49% (H15T1Y+85 bps), 8/10/27, Callable 8/10/26 @ 100(a)		676,341

				13,841,509

Chemicals (0.0%^†):
	350,000	Consolidated Energy Finance SA, 6.50%, 5/15/26, Callable 7/18/22 @ 103.25(a)		325,500
	510,000	Methanex Corp., 5.13%, 10/15/27, Callable 4/15/27 @ 100		452,625


Principal Amount			Value
Yankee Debt Obligations, continued
Chemicals, continued
$	230,000	Methanex Corp., 5.25%, 12/15/29, Callable 9/15/29 @ 100^	$	193,775
	255,000	Methanex Corp., 5.65%, 12/1/44, Callable 6/1/44 @ 100		178,198
	125,000	SPCM SA, 3.13%, 3/15/27, Callable 3/15/24 @ 101.56(a)		105,156

				1,255,254

Consumer Discretionary Services (0.0%^†):
	115,000	Studio City Co., Ltd., 7.00%, 2/15/27, Callable 2/15/24 @ 103.5(a)		99,188

Containers & Packaging (0.1%):
	15,000	Intelligent Packaging, Ltd. Finco, Inc./Intelligent Packaging, Ltd. Co-Issuer LLC, 6.00%, 9/15/28, Callable 9/15/22 @ 103(a)		12,337
	740,000	Trivium Packaging Finance BV, 5.50%, 8/15/26, Callable 8/15/22 @ 102.75(a)		695,600

				707,937

Diversified Consumer Services (0.1%):
	33,000	Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 6/1/28, Callable 6/1/24 @ 102.31(a)		26,813
	980,000	GEMS MENASA Cayman, Ltd. / GEMS Education Delaware LLC, 7.13%, 7/31/26, Callable 8/8/22 @ 103.56(a)		921,200

				948,013

Diversified Financial Services (0.5%):
	780,000	Altice Financing SA, 5.00%, 1/15/28, Callable 1/15/23 @ 102.5(a)		625,950
	1,050,000	Altice Financing SA, 5.75%, 8/15/29, Callable 8/15/24 @ 102.88(a)		842,625
	1,601,000	C&W Senior Financing Dac, 6.88%, 9/15/27, Callable 9/15/22 @ 103.44(a)		1,440,900
	430,000	Dolya Holdco 18 DAC, 5.00%, 7/15/28, Callable 7/15/23 @ 102.5(a)		356,900
	1,355,000	Park Aerospace Holdings, 5.50%, 2/15/24(a)		1,339,756
	780,000	Vmed O2 UK Financing I plc, 4.25%, 1/31/31, Callable 1/31/26 @ 102.13(a)		626,925

				5,233,056

Diversified Telecommunication Services (0.0%^†):
	700,000	Altice France SA, 6.00%, 2/15/28, Callable 2/15/23 @ 103^(a)		495,250
	470,000	Altice France SA, 5.13%, 1/15/29, Callable 9/15/23 @ 102.56(a)		356,025
	55,000	Telecom Italia SpA, 6.00%, 9/30/34		41,525

				892,800

Energy Equipment & Services (0.0%^†):
	379,688	Transocean Poseidon, Ltd., 6.88%, 2/1/27, Callable 8/8/22 @ 105.16(a)		338,871

Hotels, Restaurants & Leisure (0.0%^†):
	35,000	1011778 BC ULC / New Red Finance, Inc., 5.75%, 4/15/25, Callable 8/8/22 @ 102.88^(a)		35,175
	525,000	1011778 BC ULC / New Red Finance, Inc., 4.00%, 10/15/30, Callable 10/15/25 @ 102(a)		425,250


Principal Amount			Value
Yankee Debt Obligations, continued
Hotels, Restaurants & Leisure, continued
$	45,000	Melco Resorts Finance, Ltd., 5.75%, 7/21/28, Callable 7/21/23 @ 102.88(a)	$	29,025
	40,000	Melco Resorts Finance, Ltd., 5.38%, 12/4/29, Callable 12/4/24 @ 102.69^(a)		25,000

				514,450

Insurance (0.2%):
	1,414,000	AIA Group, Ltd., 3.38%, 4/7/30, Callable 1/7/30 @ 100(a)		1,331,663
	1,200,000	AIA Group, Ltd., 3.20%, 9/16/40, Callable 3/16/40 @ 100(a)		962,506
	200,000	Swiss Re Finance Luxembourg SA, 5.00% (H15T5Y+358 bps), 4/2/49, Callable 4/2/29 @ 100(a)		189,000

				2,483,169

Materials (0.0%^†):
	125,000	Cerdia Finanz GmbH, 10.50%, 2/15/27, Callable 2/15/24 @ 105.25(a)		102,031
	530,000	NOVA Chemicals Corp., 5.25%, 6/1/27, Callable 3/3/27 @ 100(a)		453,812
	500,000	Nufarm Australia, Ltd. / Nufarm Americas, Inc., 5.00%, 1/27/30, Callable 1/27/25 @ 102.5(a)		422,500

				978,343

Media (0.0%^†):
	565,000	VZ Secured Financing BV, 5.00%, 1/15/32, Callable 1/15/27 @ 102.5(a)		468,950
	335,000	Ziggo BV, 5.13%, 2/28/30, Callable 2/15/25 @ 102.56(a)		262,975

				731,925

Metals & Mining (0.1%):
	695,000	ERO Copper Corp., 6.50%, 2/15/30, Callable 2/15/25 @ 103.25(a)		556,000
	500,000	First Quantum Minerals, Ltd., 6.88%, 3/1/26, Callable 7/18/22 @ 103.44(a)		457,500
	35,000	First Quantum Minerals, Ltd., 6.88%, 10/15/27, Callable 10/15/23 @ 103.44(a)		31,325
	5,000	FMG Resources Pty, Ltd., 4.50%, 9/15/27, Callable 6/15/27 @ 100(a)		4,444
	85,000	Infrabuild Australia Pty, Ltd., 12.00%, 10/1/24, Callable 8/8/22 @ 109(a)		82,981
	180,000	Mineral Resources, Ltd., 8.00%, 11/1/27, Callable 11/1/24 @ 104(a)		174,600

				1,306,850

Multi-Utilities (0.1%):
	1,373,000	InterGen NV, 7.00%, 6/30/23, Callable 8/8/22 @ 100(a)		1,328,378

Oil, Gas & Consumable Fuels (1.1%):
	2,502,000	Cenovus Energy, Inc., 4.25%, 4/15/27, Callable 1/15/27 @ 100		2,455,087
	335,000	eG Global Finance plc, 6.75%, 2/7/25, Callable 7/18/22 @ 101.69(a)		315,319
	510,000	eG Global Finance plc, 8.50%, 10/30/25, Callable 8/8/22 @ 104.25(a)		494,700
	145,000	Enbridge, Inc., 4.00%, 10/1/23, Callable 7/1/23 @ 100		145,412


Principal Amount			Value
Yankee Debt Obligations, continued
Oil, Gas & Consumable Fuels, continued
$	565,000	Meg Energy Corp., 7.13%, 2/1/27, Callable 2/1/23 @ 103.56(a)	$	565,000
	2,500,000	Petroleos Mexicanos, 4.50%, 1/23/26		2,150,310
	916,000	Petroleos Mexicanos, 6.84%, 1/23/30, Callable 10/23/29 @ 100		719,033
	4,780,000	Petroleos Mexicanos, 5.95%, 1/28/31, Callable 10/28/30 @ 100		3,492,182
	2,228,000	Petroleos Mexicanos, 6.75%, 9/21/47		1,365,530
	5,000,000	Petroleos Mexicanos, 6.35%, 2/12/48		2,926,595
	336,000	Petroleos Mexicanos, 6.95%, 1/28/60, Callable 7/28/59 @ 100		208,436
	45,000	Teine Energy, Ltd., 6.88%, 4/15/29, Callable 4/15/24 @ 103.44(a)		42,075

				14,879,679

Pharmaceuticals (0.0%^†):
	295,000	Bausch Health Cos., Inc., 5.50%, 11/1/25, Callable 8/8/22 @ 101.38(a)		258,862

Software (0.0%^†):
	60,000	Open Text Corp., 3.88%, 2/15/28, Callable 2/15/23 @ 101.94(a)		53,400
	460,000	Open Text Corp., 3.88%, 12/1/29, Callable 12/1/24 @ 101.94(a)		395,600

				449,000

Sovereign Bond (0.3%):
	300,000	Abu Dhabi Government International Bond, 3.88%, 4/16/50(a)		267,702
	37,622	Argentine Republic Government International Bond, 1.00%, 7/9/29, Callable 8/8/22 @ 100		8,465
	342,505	Argentine Republic Government International Bond, 0.50%, 7/9/30, Callable 8/8/22 @ 100		78,348
	627,494	Argentine Republic Government International Bond, 0.12%, 7/9/35, Callable 8/8/22 @ 100		134,127
	300,000	Corp. Andina de Fomento, 2.38%, 5/12/23		297,786
	900,000	Dominican Republic, 5.50%, 1/27/25(a)		891,000
	3,150,000	Dominican Republic, 6.00%, 7/19/28(a)		2,909,812
	375,000	Indonesia Government International Bond, 4.20%, 10/15/50		322,524
	350,000	Qatar Government International Bond, 4.40%, 4/16/50(a)		335,157
	200,000	Saudi Government International Bond, 3.25%, 10/22/30(a)		188,353
	200,000	Saudi Government International Bond, 4.50%, 4/22/60(a)		184,599

				5,617,873

Telecommunications (0.0%^†):
	250,000	Intelsat Jackson Holdings SA, 6.50%, 3/15/30, Callable 3/15/25 @ 102(a)		206,380

Trading Companies & Distributors (0.3%):
	2,200,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 2.88%, 8/14/24, Callable 7/14/24 @ 100		2,103,543
	320,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 4.88%, 1/16/24, Callable 12/16/23 @ 100		318,481


Principal Amount			Value
Yankee Debt Obligations, continued
Trading Companies & Distributors, continued
$	1,379,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 1.65%, 10/29/24, Callable 9/29/24 @ 100	$	1,273,774
	151,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 6.50%, 7/15/25, Callable 6/15/25 @ 100		154,476
	163,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 4.45%, 4/3/26, Callable 2/3/26 @ 100		156,161
	503,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 2.45%, 10/29/26, Callable 9/29/26 @ 100		438,253
	527,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.00%, 10/29/28, Callable 8/29/28 @ 100		444,188
	564,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.30%, 1/30/32, Callable 10/30/31 @ 100		452,509

				5,341,385

Wireless Telecommunication Services (0.0%^†):
	330,000	Empresa Nacional del Pet, 4.38%, 10/30/24(a)		329,175
	450,000	Millicom International Cellular SA, 6.25%, 3/25/29, Callable 3/25/24 @ 103.13(a)		394,313
	295,000	Millicom International Cellular SA, 4.50%, 4/27/31, Callable 4/27/26 @ 102.25(a)		218,300
	562,000	Rogers Communications, Inc., 3.20%, 3/15/27, Callable 2/15/27 @ 100(a)		534,232
	490,000	Rogers Communications, Inc., 3.80%, 3/15/32, Callable 12/15/31 @ 100(a)		450,051

				1,926,071

	Total Yankee Debt Obligations (Cost $103,183,276)			88,922,236

Municipal Bonds (0.2%):
California (0.0%^†):
	140,000	California State, Build America Bonds, GO, 7.55%, 4/1/39		190,546
	10,000	California State, Build America Bonds, GO, 7.35%, 11/1/39		13,073

				203,619

Illinois (0.2%):
	3,235,000	Illinois State, Build America Bonds, GO, 5.10%, 6/1/33		3,220,410
	34,091	Illinois State, Build America Bonds, GO, 4.95%, 6/1/23		34,357

				3,254,767

New Jersey (0.0%^†):
	339,000	New Jersey Economic Development Authority Revenue, Build America Bonds, GO, Series A, 7.43%, 2/15/29		382,636

	Total Municipal Bonds (Cost $3,771,051)			3,841,022

U.S. Government Agency Mortgages (11.1%):
Federal National Mortgage Association (6.6%)
	35,156	2.50%, 5/1/31, Pool #BC0919		33,715
	50,801	2.50%, 8/1/31, Pool #BC2778		48,707
	35,890	2.50%, 10/1/31, Pool #AS8010		34,504


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	245,097	2.50%, 1/1/32, Pool #BE3032	$	238,143
	39,643	2.50%, 9/1/32, Pool #MA3124		38,394
	21,302	3.00%, 3/1/33, Pool #BM4614		20,913
	350,681	6.00%, 5/1/36, Pool #745512		385,518
	131,693	2.00%, 12/1/36, Pool #BU1384		123,297
	3,000,000	1.50%, 7/25/37, TBA		2,729,531
	9,250,000	2.00%, 7/25/37, TBA		8,642,969
	53,871	1.50%, 11/1/40, Pool #MA4175		46,444
	507,803	2.00%, 11/1/40, Pool #MA4176		457,207
	19,581	2.00%, 12/1/40, Pool #MA4204		17,380
	53,731	1.50%, 12/1/40, Pool #MA4202		46,325
	13,898	3.50%, 12/1/40, Pool #AH1556		13,718
	56,821	1.50%, 1/1/41, Pool #MA4231		48,991
	57,842	1.50%, 2/1/41, Pool #MA4266		48,881
	20,930	2.00%, 2/1/41, Pool #MA4268		18,595
	21,407	2.00%, 3/1/41, Pool #MA4287		19,019
	58,914	1.50%, 3/1/41, Pool #MA4286		49,785
	21,953	2.00%, 4/1/41, Pool #MA4311		19,503
	341,488	2.00%, 5/1/41, Pool #MA4333		303,363
	22,565	2.00%, 6/1/41, Pool #MA4364		20,045
	23,542	2.00%, 10/1/41, Pool #MA4446		20,940
	365,610	2.00%, 2/1/42, Pool #MA4540		326,853
	35,805	4.00%, 10/1/43, Pool #BM1167		36,000
	258,294	4.50%, 3/1/44, Pool #AV0957		263,244
	135,433	4.50%, 7/1/44, Pool #AS3062		137,266
	152,978	4.50%, 12/1/44, Pool #AS4176		155,754
	124,024	4.00%, 5/1/45, Pool #AZ1207		122,541
	129,424	4.00%, 6/1/45, Pool #AY8096		127,880
	59,152	4.00%, 6/1/45, Pool #AY8126		58,444
	246,863	3.50%, 7/1/45, Pool #AZ0814		238,440
	171,711	3.50%, 8/1/45, Pool #AY8424		165,855
	24,633	4.00%, 12/1/45, Pool #AS6352		24,338
	7,113	4.50%, 1/1/46, Pool #AY3890		7,206
	63,517	4.00%, 2/1/46, Pool #BC1578		62,818
	4,186	4.50%, 3/1/46, Pool #BC0287		4,375
	249,061	4.00%, 4/1/46, Pool #AL8468		248,197
	19,883	4.00%, 4/1/46, Pool #AS7024		19,676
	23,263	4.50%, 6/1/46, Pool #BD1238		23,706
	165,800	4.00%, 6/1/46, Pool #AL9282		163,972
	97,920	4.00%, 7/1/46, Pool #BC1443		97,853
	26,429	4.00%, 9/1/46, Pool #BD1489		26,134
	102,899	4.00%, 9/1/46, Pool #BC2843		102,829
	17,567	4.00%, 10/1/46, Pool #BD7599		17,371
	56,647	4.50%, 10/1/46, Pool #BE1671		57,414
	95,540	4.00%, 10/1/46, Pool #BC4754		95,475
	51,253	4.50%, 11/1/46, Pool #BE2386		53,566
	4,727	4.50%, 12/1/46, Pool #BC9079		4,939
	101,573	4.50%, 12/1/46, Pool #BE4488		106,159
	259,665	3.50%, 12/1/46, Pool #BC9077		257,882
	30,281	4.50%, 1/1/47, Pool #BE6506		30,872
	18,246	4.50%, 1/1/47, Pool #BE7087		18,615
	47,783	4.50%, 2/1/47, Pool #BE8498		48,476
	361,754	4.00%, 2/1/47, Pool #AL9779		360,835
	48,371	4.00%, 5/1/47, Pool #BM1277		48,026
	5,339	4.00%, 6/1/47, Pool #BH4269		5,301
	19,235	4.50%, 6/1/47, Pool #BH0561		19,495


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	8,653	4.50%, 6/1/47, Pool #BE9387	$	8,832
	53,275	4.50%, 6/1/47, Pool #BE3663		54,370
	45,469	4.50%, 7/1/47, Pool #BE3749		46,398
	27,021	4.00%, 7/1/47, Pool #AS9968		26,828
	51,501	4.00%, 4/1/48, Pool #BM3700		51,134
	19,487	4.50%, 4/1/48, Pool #BJ5454		19,645
	6,120	4.50%, 5/1/48, Pool #BJ5507		6,170
	270,501	4.50%, 10/1/48, Pool #CA2432		274,739
	68,501	4.50%, 10/25/48, Pool #BM4548		70,773
	322,267	4.50%, 12/1/48, Pool #CA2797		326,784
	181,403	4.50%, 9/1/49, Pool #FM1534		190,039
	41,954	3.50%, 11/1/49, Pool #CA4557		40,576
	254,990	4.00%, 11/1/49, Pool #CA4628		255,200
	9,672	3.00%, 11/1/49, Pool #BO8254		9,046
	136,728	3.00%, 1/1/50, Pool #CA5019		127,862
	181,841	3.00%, 1/1/50, Pool #MA3905		171,279
	181,021	3.00%, 2/1/50, Pool #CA5126		169,338
	561,843	4.00%, 3/1/50, Pool #FM3663		559,564
	137,065	3.00%, 4/1/50, Pool #MA3991		128,500
	92,350	2.00%, 7/1/50, Pool #FM3897		80,961
	130,748	2.00%, 7/1/50, Pool #CA6275		114,560
	2,769,271	3.50%, 8/1/50, Pool #FM7147		2,711,510
	636,696	3.00%, 8/1/50, Pool #FM6118		595,199
	360,038	2.50%, 8/1/50, Pool #SD0430		324,950
	55,395	3.00%, 9/1/50, Pool #FM4317		51,827
	141,262	3.00%, 9/1/50, Pool #CA6998		132,047
	165,569	2.50%, 10/1/50, Pool #CA7229		150,600
	138,770	2.00%, 10/1/50, Pool #CA7323		120,770
	90,724	2.00%, 11/1/50, Pool #C47616		78,830
	156,159	3.00%, 12/1/50, Pool #FM7827		146,801
	2,208,671	2.00%, 3/1/51, Pool #MA4281		1,919,450
	1,108,972	2.50%, 4/1/51, Pool #FM6540		1,011,153
	4,325,432	3.00%, 4/1/51, Pool #BR9775		4,045,297
	2,143,925	2.00%, 4/1/51, Pool #MA4305		1,863,070
	630,506	3.00%, 5/1/51, Pool #CB0531		589,174
	1,396,908	3.00%, 6/1/51, Pool #CB0850		1,305,402
	45,483	2.00%, 7/1/51, Pool #BQ1010		39,543
	513,581	3.00%, 7/1/51, Pool #FM8077		479,862
	20,357	2.00%, 7/1/51, Pool #BT1461		17,710
	518,009	2.50%, 8/1/51, Pool #CB1384		467,189
	2,800,000	5.00%, 8/25/51, TBA		2,850,313
	1,100,000	3.00%, 8/25/51, TBA		1,024,719
	382,531	2.50%, 9/1/51, Pool #CB1549		345,122
	670,440	2.00%, 10/1/51, Pool #CB1801		582,500
	503,859	2.00%, 10/1/51, Pool #CB1799		437,804
	548,540	2.00%, 11/1/51, Pool #FM9539		476,633
	850,533	2.00%, 11/1/51, Pool #FM9568		738,999
	1,351,631	2.50%, 11/1/51, Pool #FM9501		1,219,359
	1,074,413	2.00%, 12/1/51, Pool #CB2349		933,410
	1,655,336	2.50%, 12/1/51, Pool #FM9865		1,493,292
	444,910	3.00%, 12/1/51, Pool #BT9503		415,578
	362,806	2.50%, 12/1/51, Pool #CB2376		327,225
	385,914	2.00%, 12/1/51, Pool #CB2350		335,281
	291,229	2.00%, 12/1/51, Pool #CB2348		253,021
	292,067	2.00%, 12/1/51, Pool #CB2347		253,743
	407,728	2.50%, 12/1/51, Pool #CB2321		368,048


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	385,830	2.50%, 12/1/51, Pool #CB2320	$	348,082
	921,391	2.50%, 12/1/51, Pool #CB2289		831,732
	704,831	2.00%, 1/1/52, Pool #FS0288		612,280
	382,426	3.50%, 1/1/52, Pool #MA4514		368,706
	281,123	3.00%, 1/1/52, Pool #CB2662		262,411
	1,634,593	2.00%, 1/1/52, Pool #FS0286		1,421,068
	1,027,840	2.50%, 2/1/52, Pool #FS0605		927,812
	972,854	3.00%, 2/1/52, Pool #FS0631		909,343
	1,669,826	2.00%, 2/1/52, Pool #CB2842		1,450,425
	468,790	3.50%, 3/1/52, Pool #CB3174		451,892
	662,991	2.50%, 3/1/52, Pool #FS1082		604,249
	170,702	3.00%, 3/1/52, Pool #MA4564		159,437
	671,979	3.00%, 3/1/52, Pool #BV0350		627,617
	972,109	3.00%, 5/1/52, Pool #CB3584		908,259
	700,484	4.50%, 7/1/52, Pool #CB4064		712,971
	2,375,000	4.50%, 7/25/52, TBA		2,385,020
	6,200,000	4.00%, 7/25/52, TBA		6,116,688
	6,750,000	3.50%, 7/25/52, TBA		6,492,656
	2,000,000	3.00%, 7/25/52, TBA		1,865,313
	6,700,000	2.50%, 7/25/52, TBA		6,032,094
	4,900,000	1.50%, 7/25/52, TBA		4,064,703
	3,225,000	2.00%, 7/25/52, TBA		2,799,199
	5,000,000	2.50%, 8/25/52, TBA		4,496,094
	6,150,000	2.00%, 8/25/52, TBA		5,331,281

				97,981,055

Government National Mortgage Association (2.4%)
	18,429	4.00%, 10/20/40, Pool #G24833		18,769
	55,655	4.00%, 1/20/41, Pool #4922		56,683
	59,009	4.00%, 8/15/41, Pool #430354		59,362
	633,099	4.00%, 1/20/42, Pool #5280		644,789
	85,495	4.00%, 11/20/42, Pool #MA0535		86,292
	206,138	3.00%, 12/20/42, Pool #AA5872		195,791
	133,773	3.00%, 3/20/43, Pool #AA6146		133,454
	25,693	3.50%, 3/20/43, Pool #AD8884		25,240
	58,851	3.00%, 3/20/43, Pool #AD8812		58,085
	9,771	3.50%, 4/20/43, Pool #AB9891		9,599
	25,973	3.50%, 4/20/43, Pool #AD9075		25,516
	54,796	4.00%, 5/20/46, Pool #MA3664		55,274
	275,470	3.00%, 12/20/46, Pool #MA4126		263,508
	50,287	4.00%, 1/15/47, Pool #AX5857		51,050
	37,433	4.00%, 1/15/47, Pool #AX5831		37,783
	391,437	3.00%, 1/20/47, Pool #MA4195		370,132
	166,090	4.00%, 3/20/47, Pool #MA4322		167,229
	28,299	4.00%, 4/20/47, Pool #MA4383		28,493
	90,227	4.00%, 4/20/47, Pool #784303		89,710
	95,516	4.00%, 4/20/47, Pool #784304		94,969
	30,582	4.00%, 5/20/47, Pool #MA4452		30,792
	19,856	3.50%, 2/20/48, Pool #MA5019		19,424
	15,218	4.00%, 4/20/48, Pool #BG7744		15,321
	18,412	4.00%, 4/20/48, Pool #BG3507		18,536
	4,033	3.50%, 12/20/49, Pool #BR8987		4,073
	7,994	3.50%, 12/20/49, Pool #BR8985		7,776
	2,843	3.50%, 12/20/49, Pool #BR8984		2,729
	268,156	3.50%, 4/20/50, Pool #MA6600		261,840
	1,955,697	3.50%, 11/20/50, Pool #MA6997		1,909,565
	581,882	3.00%, 9/20/51, Pool #MA7590		549,943


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Government National Mortgage Association, continued
$	591,529	3.00%, 10/20/51, Pool #MA7650	$	559,010
	72,501	2.50%, 12/20/51, Pool #MA7767		66,490
	3,300,000	3.50%, 7/20/52, TBA		3,205,641
	3,000,000	4.00%, 7/20/52, TBA		2,986,875
	3,200,000	4.50%, 7/20/52, TBA		3,247,000
	9,275,000	2.50%, 7/20/52, TBA		8,495,320
	4,550,000	2.00%, 7/20/52, TBA		4,035,281
	3,125,000	3.00%, 7/20/52, TBA		2,949,219
	6,300,000	2.00%, 8/20/52, TBA		5,583,375

				36,419,938

Federal Home Loan Mortgage Corporation (2.1%)
	32,608	2.50%, 6/1/31, Pool #J34501		31,343
	22,975	2.50%, 6/1/31, Pool #G18604		22,342
	40,234	2.50%, 7/1/31, Pool #V61246		38,654
	68,840	2.50%, 8/1/31, Pool #V61273		66,434
	178,147	3.50%, 3/1/32, Pool #C91403		174,561
	533,758	3.50%, 7/1/32, Pool #C91467		523,010
	138,304	2.50%, 12/1/32, Pool #G18669		134,069
	31,179	2.50%, 3/1/33, Pool #G18680		29,921
	126,812	3.00%, 4/1/33, Pool #G18684		124,242
	40,787	3.00%, 5/1/33, Pool #G16550		40,155
	105,183	2.50%, 7/1/33, Pool #G16661		101,767
	29,426	3.00%, 4/1/34, Pool #G16829		29,083
	148,833	3.50%, 10/1/34, Pool #C91793		146,331
	408,442	4.00%, 5/1/37, Pool #C91938		408,927
	179,332	4.00%, 11/1/40, Pool #A95150		181,783
	35,081	1.50%, 12/1/40, Pool #RB5089		30,247
	58,047	1.50%, 2/1/41, Pool #RB5099		49,051
	58,999	1.50%, 3/1/41, Pool #RB5104		49,858
	58,416	1.50%, 4/1/41, Pool #RB5107		49,362
	21,817	2.00%, 4/1/41, Pool #RB5108		19,383
	22,566	2.00%, 7/1/41, Pool #RB5118		19,788
	23,533	2.00%, 10/1/41, Pool #RB5131		20,932
	254,337	3.50%, 1/1/44, Pool #G60271		246,661
	504,627	3.50%, 1/1/44, Pool #G07922		496,955
	65,121	4.00%, 2/1/45, Pool #G07949		66,591
	58,407	3.50%, 11/1/45, Pool #Q37467		56,762
	14,508	4.00%, 4/1/46, Pool #V82292		14,501
	6,109	4.00%, 4/1/46, Pool #Q39975		6,083
	113,469	3.50%, 9/1/46, Pool #Q43257		109,997
	186,534	3.00%, 12/1/46, Pool #G60989		174,516
	8,097	4.50%, 12/1/46, Pool #Q45028		8,468
	5,931	4.50%, 1/1/47, Pool #Q45635		6,203
	11,931	4.50%, 2/1/47, Pool #Q46222		12,183
	9,635	4.50%, 5/1/47, Pool #Q47942		9,838
	30,411	4.50%, 5/1/47, Pool #Q48095		31,052
	20,573	4.50%, 5/1/47, Pool #Q47935		21,010
	37,496	4.50%, 6/1/47, Pool #Q48759		38,291
	242,805	4.00%, 6/1/47, Pool #Q48877		242,694
	21,041	4.50%, 7/1/47, Pool #Q49393		21,484
	93,674	4.50%, 12/1/47, Pool #Q53017		94,836
	27,728	4.00%, 2/1/48, Pool #G61343		27,670
	11,789	4.00%, 2/1/48, Pool #Q54499		11,783
	34,359	4.50%, 4/1/48, Pool #Q55500		34,666
	20,572	4.50%, 4/1/48, Pool #Q55724		20,757
	48,925	4.50%, 4/1/48, Pool #Q55660		49,375


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal Home Loan Mortgage Corporation, continued
$	40,755	4.50%, 5/1/48, Pool #Q55839	$	41,119
	108,938	4.00%, 5/1/48, Pool #Q55992		108,881
	156,332	4.00%, 6/1/48, Pool #G67713		156,271
	47,947	4.00%, 7/1/48, Pool #Q59935		47,869
	27,118	4.50%, 10/1/48, Pool #G67716		27,792
	157,662	3.00%, 6/1/49, Pool #ZT2090		148,514
	737,787	4.50%, 7/1/49, Pool #RA1171		748,900
	6,165	3.00%, 10/1/49, Pool #QA3907		5,765
	9,147	3.00%, 11/1/49, Pool #QA4483		8,558
	25,878	3.00%, 12/1/49, Pool #QA5154		24,210
	10,221	3.00%, 12/1/49, Pool #QA5521		9,641
	153,306	3.00%, 4/1/50, Pool #QA9049		144,387
	353,722	2.00%, 6/1/50, Pool #RA2677		310,267
	462,193	2.50%, 11/1/50, Pool #SD7530		417,208
	2,338,122	2.50%, 2/1/51, Pool #SD7535		2,128,259
	1,361,669	2.00%, 3/1/51, Pool #SD8134		1,183,354
	1,376,835	2.00%, 5/1/51, Pool #SD7541		1,197,421
	2,261,009	2.50%, 5/1/51, Pool #SD7540		2,041,073
	46,757	2.00%, 5/1/51, Pool #QC1514		40,650
	369,485	2.50%, 7/1/51, Pool #RA5574		333,284
	28,786	2.00%, 7/1/51, Pool #QC4163		25,023
	1,037,006	2.50%, 8/1/51, Pool #QC5848		934,598
	485,726	3.00%, 9/1/51, Pool #QC6608		453,515
	478,212	3.00%, 9/1/51, Pool #QC7496		446,739
	1,262,943	2.00%, 10/1/51, Pool #RA5715		1,099,855
	493,890	3.00%, 10/1/51, Pool #QC9077		461,300
	722,792	2.00%, 10/1/51, Pool #RA6076		627,947
	479,010	3.00%, 11/1/51, Pool #QD1240		447,597
	1,248,683	2.00%, 11/1/51, Pool #RA6241		1,084,945
	433,866	2.00%, 11/1/51, Pool #RA6302		376,901
	675,525	2.50%, 12/1/51, Pool #RA6434		609,786
	473,159	3.00%, 12/1/51, Pool #QD3200		442,092
	485,822	2.00%, 12/1/51, Pool #RA6510		422,089
	291,217	2.50%, 12/1/51, Pool #RA6496		262,872
	2,217,404	2.50%, 12/1/51, Pool #RA6435		1,999,817
	828,725	2.50%, 1/1/52, Pool #RA6622		747,299
	416,223	3.00%, 1/1/52, Pool #RA6604		388,799
	261,189	3.00%, 1/1/52, Pool #QD5561		243,976
	1,078,966	2.00%, 2/1/52, Pool #RA6823		937,639
	1,076,457	2.00%, 2/1/52, Pool #RA6824		935,159
	721,962	3.50%, 3/1/52, Pool #RA6949		695,289


Principal Amount or Shares			Value
U.S. Government Agency Mortgages, continued
Federal Home Loan Mortgage Corporation, continued
$	748,498	3.50%, 3/1/52, Pool #RA6950	$	722,938
	1,286,983	3.50%, 3/1/52, Pool #RA6987		1,243,782
	2,477,592	3.00%, 3/1/52, Pool #RA6988		2,314,089

				31,141,088

	Total U.S. Government Agency Mortgages (Cost $173,831,036)			165,542,081

U.S. Treasury Obligations (21.5%):
U.S. Treasury Bonds (6.4%)
	32,428,000	1.75%, 8/15/41		24,812,487
	1,605,300	3.00%, 2/15/47		1,509,484
	66,722,000	2.00%, 8/15/51		52,022,309
	10,106,000	1.88%, 11/15/51		7,648,979
	7,300,000	2.25%, 2/15/52		6,059,000
	3,500,000	2.88%, 5/15/52		3,332,656

				95,384,915

U.S. Treasury Notes (15.1%)
	72,300,000	0.13%, 5/31/23		70,492,500
	85,000,000	0.75%, 5/31/26		77,867,969
	18,472,000	1.25%, 12/31/26		17,098,145
	7,155,200	1.25%, 5/31/28		6,456,450
	17,310,000	1.25%, 9/30/28		15,533,020
	43,791,000	1.38%, 11/15/31		38,091,328

				225,539,412

	Total U.S. Treasury Obligations (Cost $364,707,415)			320,924,327

Short-Term Security Held as Collateral for Securities on Loan (0.6%):
	9,269,106	BlackRock Liquidity FedFund, Institutional Class, 0.19%(f)(g)		9,269,106

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $9,269,106)			9,269,106

Unaffiliated Investment Company (1.2%):
Money Markets (1.2%):
	18,252,208	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(g)		18,252,208

	Total Unaffiliated Investment Company (Cost $18,252,208)			18,252,208

	Total Investment Securities (Cost $1,708,037,369) — 104.4%			1,559,005,203
	Net other assets (liabilities) — (4.4)%			(66,373,281	)

	Net Assets — 100.0%		$	1,492,631,922

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	1,708,037,369

Investment securities, at value(a)	$	1,559,005,203
Interest and dividends receivable		7,362,571
Foreign currency, at value (cost $1)		1
Receivable for capital shares issued		71,229
Receivable for investments sold		67,232,974
Receivable for TBA investments sold		3,223,647
Receivable for variation margin on futures contracts		1,373,999
Reclaims receivable		36,173
Prepaid expenses		5,623

Total Assets		1,638,311,420

Liabilities:
Cash overdraft		3,674,391
Payable for investments purchased		11,762,779
Payable for TBA investments purchased		119,262,118
Payable for capital shares redeemed		572,888
Payable for collateral received on loaned securities		9,269,106
Due to Broker for futures contracts collateral		1,098
Manager fees payable		529,875
Administration fees payable		285,218
Distribution fees payable		294,222
Custodian fees payable		2,660
Administrative and compliance services fees payable		771
Transfer agent fees payable		1,088
Trustee fees payable		7,063
Other accrued liabilities		16,221

Total Liabilities		145,679,498

Net Assets	$	1,492,631,922

Net Assets Consist of:
Paid in capital	$	1,522,318,955
Total distributable earnings		(29,687,033	)

Net Assets	$	1,492,631,922

Shares of beneficial interest (unlimited number of shares authorized, no par value)		113,260,370
Net Asset Value (offering and redemption price per share)	$	13.18

Class 1
Net Assets	$	91,064,340
Shares of beneficial interest (unlimited number of shares authorized, no par value)		10,269,169
Net Asset Value (offering and redemption price per share)	$	8.87

Class 2
Net Assets	$	1,401,567,582
Shares of beneficial interest (unlimited number of shares authorized, no par value)		102,991,202
Net Asset Value (offering and redemption price per share)	$	13.61

(a)	Includes securities on loan of $8,902,249.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Interest	$	12,345,557
Dividends		5,576,883
Income from securities lending		18,269
Foreign withholding tax		(948	)

Total Investment Income		17,939,761

Expenses:
Management fees		3,575,065
Administration fees		178,302
Distribution fees		1,952,218
Custodian fees		22,854
Administrative and compliance services fees		10,361
Transfer agent fees		6,147
Trustee fees		40,618
Professional fees		32,593
Shareholder reports		16,436
Other expenses		16,907

Total expenses before reductions		5,851,501
Less expense contractually waived/reimbursed by the Manager		(139,162	)

Net expenses		5,712,339

Net Investment Income/(Loss)		12,227,422

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities and foreign currencies		(5,503,774	)
Net realized gains/(losses) on futures contracts		(4,705,459	)
Net realized gains/(losses) on securities held short		11,737
Change in net unrealized appreciation/depreciation on securities and foreign currencies		(253,548,149	)
Change in net unrealized appreciation/depreciation on futures contracts		(193,490	)
Change in net unrealized appreciation/depreciation on securities held short		219

Net realized and Change in net unrealized gains/losses on investments		(263,938,916	)

Change in Net Assets Resulting From Operations	$	(251,711,494	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services — Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL Fidelity Institutional Asset Management Multi-Strategy Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

The Fund may invest in structured notes, the values of which are based on the price movements of a reference security or index. Structured notes are derivative debt securities, the interest rate or principal of which is determined by an unrelated indicator. The terms of the structured notes may provide that in certain circumstances no principal is due at maturity and therefore, may result in a loss of invested capital. Structured notes may be positively or negatively indexed, so that appreciation of the reference may produce an increase or a decrease in the interest rate or the value of the structured note at maturity may be calculated as a specified multiple of the change in the value of the reference; therefore, the value of such security may be very volatile. Structured notes may entail a greater degree of market risk than other types of debt securities because the investor bears the risk of the reference. Structured notes may also be more volatile, less liquid, and more difficult to accurately price than less complex securities or more traditional debt securities.

The Fund may engage in short sales against the box (i.e., where the Fund owns or has an unconditional right to acquire at no additional cost a security substantially similar to the security sold short) for hedging purposes to limit exposure to a possible market decline in the value of its portfolio securities. In a short sale, the Fund sells a borrowed security and has a corresponding obligation to the lender to return the identical security. The Fund may also incur an interest expense if a security that has been sold short has an interest payment. When the Fund engages in a short sale, the Fund records a liability for securities sold short and records an asset equal to the proceeds received. The amount of the liability is subsequently marked to market to reflect the market value of the securities sold short. To borrow the security, the Fund also may be required to pay a premium, which would increase the cost of the security sold.

Expenses directly attributable to the Fund are charged directly to the Fund, while expenses attributable to more than one Fund are allocated among the respective Funds based upon relative net assets or some other reasonable method. Each class of shares bears its pro-rata portion of expenses attributable to its series, except that each class separately bears expenses related specifically to that class, such as distribution fees. Expenses which are attributable to more than one Trust are allocated across the Allianz Variable Insurance Products Trust, Allianz Variable Insurance Products Fund of Funds Trust, and AIM ETF Products Trust based upon relative net assets or another reasonable basis. Allianz Investment Management LLC (the “Manager”), serves as the investment manager for the Trust, Allianz Variable Insurance Products Fund of Funds Trust and AIM ETF Products Trust.

The investment income, expenses (other than class specific expenses charged to a class), realized and unrealized gains and losses on investments of the Fund are allocated to each class of shares based upon relative net assets on the date income is earned or expenses and realized and unrealized gains and losses are incurred. All share classes have equal voting rights, except that voting with respect to matters that affect a single class is limited to shares of that class.

The Fund may invest in bank loans, which generally have interest rates which are reset periodically by reference to a base lending rate plus a premium. These base rates are primarily the London-Interbank Offered Rate and, secondarily, the prime rate offered by one or more major U.S. banks and the certificate of deposit rate or other base lending rates used by commercial lenders. Bank loans often require prepayments from excess cash flows or allow the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. Therefore, the anticipated or actual maturity may be considerably earlier than the stated maturity shown in the Schedule of Portfolio of Investments. All or a portion of any bank loans may be unfunded. The portfolio is obligated to fund any commitments at the borrower’s discretion. Therefore, the portfolio must have funds sufficient to cover its contractual obligation.

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $1,784 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $9,269,106 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

delivered are not identified at the trade date; however, delivered securities must meet specified terms, including issuer, rate, and mortgage term, and be within industry-accepted “good delivery” standards. The Fund may enter into TBA purchase transactions with the intention of taking possession of the underlying securities, may elect to extend the settlement by “rolling” the transaction, and/or may use TBAs to gain interim exposure to underlying securities. Until settlement, the Fund maintains liquid assets sufficient to settle its TBA commitments.

During the period ended June 30, 2022, the Fund used futures contracts to provide market exposure on the Fund’s cash balances. Futures contracts are valued based upon their quoted daily settlement prices. Upon entering into a futures contract, the Fund is required to segregate liquid assets in accordance with the initial margin requirements of the broker or exchange. Futures contracts are marked to market daily and a payable or receivable for the change in value (“variation margin”), if any, is recorded by the Fund. Gains or losses are recognized but not considered realized until the contracts expire or are closed. Futures contracts involve, to varying degrees, elements of market risk (generally equity price risk related to stock futures, interest rate risk related to bond futures, and foreign currency risk related to currency futures) and exposure to loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities. The primary risks associated with the use of futures contracts are the imperfect correlation between the change in value of the underlying securities and the prices of futures contracts, the possibility of an illiquid market, and the inability of the counterparty to meet the terms of the contract. For the period ended June 30, 2022, the monthly average notional amount for long contracts was $15.7 million. There was no short contract activity during the period. Realized gains and losses are reported as “Net realized gains/(losses) on futures contracts” on the Statement of Operations.

The following is a summary of the values of derivative instruments on the Fund’s Statement of Assets and Liabilities, categorized by risk exposure, as of June 30, 2022:

The following is a summary of the effect of derivative instruments on the Statement of Operations, categorized by risk exposure, for the period ended June 30, 2022:

The Manager provides investment advisory and management services for the Fund. The Manager has retained an independent money management organization, FIAM LLC (“FIAM”) to make investment decisions on behalf of the Fund. Pursuant to a subadvisory agreement with the Manager, FIAM provides investment advisory services as the subadviser for the Fund subject to the general supervision of the Trustees and the Manager. Prior to March 18, 2022, pursuant to a separate sub-subadvisory agreement with FIAM, Geode Capital Management, LLC (“Geode”) acted as sub-subadviser, made investment decisions with respect to certain designated assets of the Fund, and was paid a fee by FIAM, not the Fund. The Manager is entitled to a fee, computed daily and paid monthly, based on the average daily net assets of the Fund. Expenses incurred by the Fund for investment advisory and management services are reflected on the Statement of Operations as “Management fees.” For its services, the Subadviser is entitled to a fee payable by

the Manager. The Manager has contractually agreed to waive fees and reimburse the Fund to limit the annual expenses, excluding interest expense (e.g., cash overdraft fees), taxes, brokerage commissions, acquired fund fees and expenses, other expenditures that are capitalized in accordance with U.S. GAAP and other extraordinary expenses not incurred in the ordinary course of the Fund’s business, based on the daily net assets of the Fund, through April 30, 2023.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

At June 30, 2022, the contractual reimbursements subject to repayment by the Fund in subsequent years were as follows:

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

For the period ended June 30, 2022, purchases and sales of long-term U.S. government securities were as follows:

A restricted security is a security which has been purchased through a private offering and cannot be resold to the general public without prior registration under the Securities Act of 1933 (the “1933 Act”) or pursuant to the resale limitations provided by Rule 144A under the 1933 Act, or an exemption from the registration requirements of the 1933 Act. Whether a restricted security is illiquid is determined pursuant to guidelines established by the Trustees. Not all restricted securities are considered illiquid. The illiquid restricted securities held as of June 30, 2022 are identified below.

Bank Loan Risk: There are a number of risks associated with an investment in bank loans including credit risk, interest rate risk, liquidity risk and prepayment risk. Lack of an active trading market, restrictions on resale, irregular trading activity, wide bid/ask spreads and extended trade settlement periods may impair the Fund’s ability to sell bank loans within its desired time frame or at an acceptable price and its ability to accurately value existing and prospective investments. Extended trade settlement periods may result in cash not being immediately available to the Fund. As a result, the Fund may have to sell other investments or engage in borrowing transactions to raise cash to meet its obligations. The risk of holding bank loans is also directly tied to the risk of insolvency or bankruptcy of the issuing banks. These risks could cause the Fund to lose income or principal on a particular investment, which in turn could affect the Fund’s returns. The value of bank loans can be affected by and sensitive to changes in government regulation and to economic downturns in the United States and abroad. Bank loans generally are floating rate loans, which are subject to interest rate risk as the interest paid on the floating rate loans adjusts periodically based on changes in widely accepted reference rates.

Emerging Markets Risk: Emerging markets may have less developed trading markets and exchanges which may make it more difficult to sell securities at an acceptable price and their prices may be more volatile than securities of companies in more developed markets. Settlements of trades may be subject to greater delays so that the Fund may not receive the proceeds of a sale of a security on a timely basis. Emerging countries may also have less developed legal and accounting systems and investments may be subject to greater risks of government restrictions, nationalization, or confiscation.

Interest Rate Risk: Debt securities held by the Fund may decline in value due to rising interest rates. The price of a bond is also affected by its maturity. Bonds with longer maturities generally have greater sensitivity to changes in interest rates.

London Interbank Offering Rate (“LIBOR”) Risk: Certain investments held by the Fund may pay or receive interest at floating rates based on LIBOR. The United Kingdom Financial Conduct Authority has announced that it will stop compelling banks to submit rates for many LIBOR settings after December 31, 2021, and for certain other commonly-used U.S. dollar LIBOR settings after June 30, 2023. The transition away from LIBOR could result in increased volatility and uncertainty in markets tied to LIBOR. The elimination of LIBOR may adversely affect the market for, or value of, specific securities or payments linked to LIBOR rates, the availability or terms of borrowing or refinancing, or the effectiveness of hedging strategies. To the extent that the Fund’s investments have maturities which extend beyond 2023, the applicable interest rates might be subject to change if there is a transition from the LIBOR reference rate. These risks may also apply with respect to changes in connection with other interbank offering rates (e.g., Euribor or SOFR) and a wide range of other index levels, rates and values that are treated as “benchmarks” and are the subject of recent regulatory reform.

Market Risk: The market price of securities owned by the Fund may go up or down, sometimes rapidly and unpredictably. Securities may decline in value due to factors affecting securities markets generally or particular industries represented in the securities markets. The value of a security may decline due to general market conditions that are not specifically related to a particular company, such as real or perceived adverse economic conditions, changes in the general outlook for corporate earnings, changes in interest or currency rates, or adverse investor sentiment, as well as natural disasters, and outbreaks of infectious illnesses or other widespread public health issues.

adjustable and fixed rate mortgage-related securities are subject to call risk. When interest rates decline, borrowers may pay off their mortgages sooner than expected. This can reduce the returns of the Fund because the Fund will have to reinvest that money at the lower prevailing interest rates. If the Fund purchases mortgage-backed or asset-backed securities that are subordinated to other interests in the same mortgage pool, the Fund may receive payments only after the pool’s obligations to other investors have been satisfied. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may limit substantially the pool’s ability to make payments of principal or interest to the Fund as a holder of such subordinated securities, reducing the values of those securities or in some cases rendering them worthless. An unexpectedly high or low rate of prepayments on a pool’s underlying mortgages may have a similar effect on subordinated securities. A mortgage pool may issue securities subject to various levels of subordination. The risk of non-payment affects securities at each level, although the risk is greater in the case of more highly subordinated securities. The Fund’s investments in other asset-backed securities are subject to risks similar to those associated with mortgage-related securities, as well as additional risks associated with the nature of the assets and the servicing of those assets.

Short Sale Risk: The Fund may engage in short sales, which are transactions in which the Fund sells securities borrowed from others with the expectation that the price of the security will fall before the Fund must purchase the security to return it to the lender. The Fund may make short sales of securities, either as a hedge against potential declines in value of a portfolio security or to realize appreciation when a security that the Fund does not own declines in value. Because making short sales in securities that it does not own exposes the Fund to the risks associated with those securities, such short sales involve speculative exposure risk. The Fund will incur a loss as a result of a short sale if the price of the security increases between the date of the short sale and the date on which the Fund replaces the security sold short. The Fund will realize a gain if the security declines in price between those dates. As a result, if the Fund makes short sales in securities that increase in value, it will likely underperform similar funds that do not make short sales in securities they do not own. There can be no assurance that the Fund will be able to close out a short sale position at any particular time or at an acceptable price. Although the Fund’s gain is limited to the amount at which it sold a security short, its potential loss is limited only by the maximum attainable price of the security, less the price at which the security was sold. The Fund may also pay transaction costs and borrowing fees in connection with short sales.

The current outbreak of the novel strain of coronavirus, COVID-19, has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain the spread of COVID-19 have resulted in travel restrictions, closed international borders, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, defaults and other significant economic impacts, all of which have disrupted global economic activity across many industries and may exacerbate other pre-existing political, social and economic risks, locally or globally. The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Fund’s performance.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $1,905,510,267. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had an individual shareholder account which is affiliated with the Manager representing ownership in excess of 70% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

As a shareholder of the AZL Fidelity Institutional Asset Management Total Bond Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Shares, Contracts or Principal Amount			Value
Common Stocks (0.2%):
Diversified Telecommunication Services (0.0%^†):
	1,287	Frontier Communications Parent, Inc.*	$	30,296

Hotels, Restaurants & Leisure (0.0%^†):
	1,100	Caesars Entertainment, Inc.*		42,130

Media (0.0%^†):
	2,400	Altice USA, Inc., Class A*		22,200

Oil, Gas & Consumable Fuels (0.2%):
	22	Amplify Energy Corp.*		144
	2,649	Denbury, Inc.*		158,914
	1,400	EQT Corp.		48,160
	5,889	Sanchez Energy Corp.*(a)		367,156

				574,374

Semiconductors & Semiconductor Equipment (0.0%^†):
	698	Micron Technology, Inc.		38,585

	Total Common Stocks (Cost $355,578)			707,585

Preferred Stock (0.0%^†):
Electric Utilities (0.0%^†):
	600	PG&E Corp., 5.50%, 8/16/23		57,360

	Total Preferred Stock (Cost $70,437)			57,360

Warrant (0.0%^†):
Oil, Gas & Consumable Fuels (0.0%^†):
	95	California Resources Corp., 10/27/24*		976

	Total Warrant (Cost $–)			976

Asset Backed Securities (2.3%):
$	580,576	Aaset Trust, Class A, Series 2021-2A, 2.80%, 1/15/47(b)		529,548
	315,540	Aaset Trust, Class A, Series 2021-1A, 2.95%, 11/16/41(b)		274,925
	135,632	Aaset Trust, Class A, Series 2020-1A, 3.35%, 1/16/40(b)		113,765
	160,110	Aaset Trust, Class A, Series 2020-1A, 4.34%, 1/16/40(b)		70,054
	210,940	Aaset Trust, Class A, Series 2019-1, 3.84%, 5/15/39(b)		144,940
	386,309	Aaset Trust, Class A, Series 2019-2, 3.38%, 10/16/39(b)		293,719
	228,125	Aaset Trust, Class A, Series 2018-1A, 3.84%, 1/16/38(b)		153,617
	1,256,707	Aaset Trust, Class A, Series 2017-1A, 3.97%, 5/16/42(b)		1,042,914
	546,059	Blackbird Capital Aircraft, Class A, Series 2016-1A, 4.21%, 12/16/41, Callable 12/15/24 @ 100(b)(c)		492,642
	79,088	Blackbird Capital Aircraft, Class AA, Series 2016-1A, 2.49%, 12/16/41, Callable 12/15/24 @ 100(b)(c)		76,189
	451,932	Blackbird Capital Aircraft, Class A, Series 2021-1A, 2.44%, 7/15/46, Callable 7/15/28 @ 100(b)		391,415
	326,248	Castlelake Aircraft Structured Trust, Class A, Series 2019-1, 3.97%, 4/15/39(b)		287,803
	186,315	Castlelake Aircraft Structured Trust, Class B, Series 2019-1, 5.10%, 4/15/39(b)		147,578
	249,433	Castlelake Aircraft Structured Trust, Class A, Series 2018-1A, 4.13%, 6/15/43(b)		224,177


Principal Amount			Value
Asset Backed Securities, continued
$	182,949	Castlelake Aircraft Structured Trust, Class A, Series 2021-1A, 3.47%, 1/15/46(b)	$	164,093
	526,620	CF Hippolyta LLC, Class A1, Series 2021-A, 1.53%, 3/15/61, Callable 3/15/24 @ 100(b)		464,973
	548,648	DB Master Finance LLC, Class A2II, Series 2017-1A, 4.03%, 11/20/47, Callable 11/20/23 @ 100(b)		522,908
	205,380	Horizon Aircraft Finance, Ltd., Class A, Series 2018-1, 4.46%, 12/15/38(b)		178,691
	211,343	Horizon Aircraft Finance, Ltd., Class A, Series 2019-1, 3.72%, 7/15/39(b)		187,007
	328,575	Planet Fitness Master Issuer LLC, Class A2, Series 1A, 3.86%, 12/5/49, Callable 12/5/25 @ 100(b)		292,114
	216,458	Planet Fitness Master Issuer LLC, Class A2II, Series 2022-1A, 4.01%, 12/5/51, Callable 12/5/27 @ 100(b)		193,033
	253,365	Planet Fitness Master Issuer LLC, Class A2I, Series 2022-1A, 3.25%, 12/5/51, Callable 12/5/24 @ 100(b)		228,044
	363,076	Project Silver, Class A, Series 2019-1, 3.97%, 7/15/44(b)		311,597
	336,491	Sapphire Aviation Finance, Ltd., Class A, Series 2020-1A, 3.23%, 3/15/40(b)		294,549
	233,783	Sapphire Aviation Finance, Ltd., Class B, Series 2020-1A, 4.34%, 3/15/40(b)		156,338
	345,082	Thunderbolt Aircraft Lease, Ltd., Class A, Series 2017-A, 4.21%, 5/17/32, Callable 4/15/24 @ 100(b)(c)		296,750
	507,113	Thunderbolt Aircraft Lease, Ltd., Class A, Series 2019-1, 3.67%, 11/15/39(b)		434,908
	491,959	Thunderbolt II Aircraft Lease, Ltd., Class A, Series 2018, 4.15%, 9/15/38(b)(c)		433,861

	Total Asset Backed Securities (Cost $9,839,760)			8,402,152

Collateralized Mortgage Obligations (9.8%):
	250,000	Aimco CLO 11, Ltd., Class AR, Series 2020-11A, 2.17%(US0003M+113bps), 10/17/34, Callable 10/17/23 @ 100(b)		240,308
	460,000	Aimco CLO 14, Ltd., Class A, Series 2021-14A, 2.05%(US0003M+99bps), 4/20/34, Callable 4/20/23 @ 100(b)		442,191
	273,000	Allegro CLO XIII, Ltd., Class A, Series 2021-1A, 2.20%(US0003M+114bps), 7/20/34, Callable 7/20/23 @ 100(b)		262,632
	254,000	Allegro CLO XV, Ltd., Class A, Series 2022-1A, 3.18%(TSFR3M+150bps), 7/20/35(b)		247,537
	393,000	Ares CLO, Ltd., Class A, Series 2019-54A, 2.36%(US0003M+132bps), 10/15/32, Callable 7/15/22 @ 100(b)		383,876
	250,000	Ares CLO, Ltd., Class AR2, Series 2015-2A, 2.29%(US0003M+125bps), 4/17/33, Callable 7/17/22 @ 100(b)		243,779
	342,000	Ares LV CLO, Ltd., Class A1R, Series 2020-55A, 2.17%(US0003M+113bps), 7/15/34, Callable 7/15/23 @ 100(b)		331,254
	408,000	Ares LVIII CLO, Ltd., Class AR, Series 2020-58A, 2.18%(TSFR3M+133bps), 1/15/35, Callable 1/15/24 @ 100(b)		391,134
	387,000	Ares XLI CLO, Ltd., Class AR2, Series 2016-41A, 2.11%(US0003M+107bps), 4/15/34, Callable 4/15/23 @ 100(b)		372,501


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	100,000	BAMLL Commercial Mortgage Securities Trust, Class BNM, Series 2019-BPR, 3.47%, 11/5/32(b)	$	94,590
	273,000	BAMLL Commercial Mortgage Securities Trust, Class ANM, Series 2019-BPR, 3.11%, 11/5/32(b)		260,387
	100,000	BAMLL Commercial Mortgage Securities Trust, Class C, Series 2022-DKLX, 3.43%(TSFR1M+215bps), 1/15/39(b)		96,115
	227,000	BAMLL Commercial Mortgage Securities Trust, Class A, Series 2022-DKLX, 2.43%(TSFR1M+115bps), 1/15/39(b)		220,530
	43,000	Bank, Class A5, Series 2019-BN21, 2.85%, 10/15/52, Callable 9/15/29 @ 100		39,147
	440,000	Barings CLO, Ltd., Class A, Series 2020-4A, 2.28%(US0003M+122bps), 1/20/32, Callable 7/20/22 @ 100(b)		430,658
	250,000	Barings CLO, Ltd., Class AR, Series 2020-1A, 2.19%(US0003M+115bps), 10/15/36, Callable 10/15/23 @ 100(b)		241,300
	417,000	Beechwood Park CLO, Ltd., Class A1R, Series 2019-1A, 2.15%(TSFR3M+130bps), 1/17/35, Callable 1/17/24 @ 100(b)		402,330
	49,000	Benchmark Mortgage Trust, Class A5, Series 2018-B4, 4.12%, 7/15/51(c)		48,504
	331,000	Bethpage Park CLO, Ltd., Class A, Series 2021-1A, 2.17%(US0003M+113bps), 1/15/35, Callable 10/15/23 @ 100(b)		318,746
	201,000	BFLD Trust, Class A, Series 2020-OBRK, 3.37%(US0001M+205bps), 11/15/22(b)		194,043
	197,000	BPR Trust, Class B, Series 2022-OANA, 3.73%(TSFR1M+245bps), 4/15/37(b)		195,419
	743,000	BPR Trust, Class A, Series 2022-OANA, 3.18%(TSFR1M+190bps), 4/15/37(b)		726,968
	459,301	Bristol Park CLO, Ltd., Class AR, Series 2016-1A, 2.03%(US0003M+99bps), 4/15/29, Callable 7/15/22 @ 100(b)		452,145
	119,000	BX Commercial Mortgage Trust, Class D, Series 2018-EXCL, 3.95%(US0001M+263bps), 9/15/37(b)		99,118
	190,400	BX Commercial Mortgage Trust, Class B, Series 2019-XL, 2.40%(US0001M+108bps), 10/15/36(b)		185,648
	238,850	BX Commercial Mortgage Trust, Class C, Series 2019-XL, 2.57%(US0001M+125bps), 10/15/36(b)		231,708
	339,150	BX Commercial Mortgage Trust, Class D, Series 2019-XL, 2.77%(US0001M+145bps), 10/15/36(b)		328,155
	161,552	BX Commercial Mortgage Trust, Class C, Series 2022-LP2, 2.90%(TSFR1M+156bps), 2/15/39(b)		151,933
	176,000	BX Commercial Mortgage Trust, Class C, Series 2019-IMC, 2.92%(US0001M+160bps), 4/15/34(b)		168,464
	266,000	BX Commercial Mortgage Trust, Class B, Series 2019-IMC, 2.62%(US0001M+130bps), 4/15/34(b)		255,279


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	161,552	BX Commercial Mortgage Trust, Class B, Series 2022-LP2, 2.65%(TSFR1M+131bps), 2/15/39(b)	$	153,802
	400,000	BX Commercial Mortgage Trust, Class A, Series 2019-IMC, 2.32%(US0001M+100bps), 4/15/34(b)		389,923
	536,016	BX Commercial Mortgage Trust, Class A, Series 2022-LP2, 2.35%(TSFR1M+101bps), 2/15/39(b)		512,078
	185,000	BX Commercial Mortgage Trust, Class D, Series 2019-IMC, 3.22%(US0001M+190bps), 4/15/34(b)		175,761
	476,000	BX Commercial Mortgage Trust, Class E, Series 2019-XL, 3.12%(US0001M+180bps), 10/15/36(b)		459,307
	161,552	BX Commercial Mortgage Trust, Class D, Series 2022-LP2, 3.29%(TSFR1M+196bps), 2/15/39(b)		152,560
	302,000	BX Mortgage Trust, Class E, Series 2021-PAC, 3.27%(US0001M+195bps), 10/15/36(b)		281,165
	100,000	BX Mortgage Trust, Class B, Series 2021-PAC, 2.22%(US0001M+90bps), 10/15/36(b)		94,507
	447,000	BX Mortgage Trust, Class A, Series 2021-PAC, 2.01%(US0001M+69bps), 10/15/36(b)		424,816
	100,000	BX Mortgage Trust, Class D, Series 2021-PAC, 2.62%(US0001M+130bps), 10/15/36(b)		92,446
	100,000	BX Mortgage Trust, Class C, Series 2021-PAC, 2.42%(US0001M+110bps), 10/15/36(b)		93,383
	400,000	BX Trust, Class A, Series 2022-IND A, 2.82%(TSFR1M+149bps), 4/15/37(b)		389,172
	46,000	BX Trust, Class C, Series 2022-IND, 3.62%(TSFR1M+229bps), 4/15/37(b)		44,015
	204,000	BX Trust, Class B, Series 2022-IND, 3.27%(TSFR1M+194bps), 4/15/37(b)		197,239
	39,000	BX Trust, Class D, Series 2022-IND, 4.17%(TSFR1M+284bps), 4/15/37(b)		37,239
	220,582	Cascade Funding Mortgage Trust, Class A, Series 2021-HB6, 0.90%, 6/25/36, Callable 7/25/22 @ 100(b)(c)		216,269
	336,000	Cedar Funding VI CLO, Ltd., Class AAA, Series 2016-6A, 2.11%(US0003M+105bps), 4/20/34, Callable 4/20/23 @ 100(b)		321,398
	264,000	Cedar Funding X CLO, Ltd., Class AR, Series 2019-10A, 2.16%(US0003M+110bps), 10/20/32, Callable 10/20/22 @ 100(b)		256,178
	250,000	Cedar Funding XII CLO, Ltd., Class A1R, Series 2020-12A, 2.31%(US0003M+113bps), 10/25/34, Callable 10/25/23 @ 100(b)		240,523
	387,000	Cedar Funding XV CLO, Ltd., Class A, Series 2022-15A, 2.03%(TSFR3M+132bps), 4/20/35, Callable 4/20/24 @ 100(b)		370,299
	122,078	CHC Commercial Mortgage Trust, Class B, Series 2019-CHC, 2.82%(US0001M+150bps), 6/15/34(b)		118,835
	622,301	CHC Commercial Mortgage Trust, Class A, Series 2019-CHC, 2.44%(US0001M+112bps), 6/15/34(b)		607,890
	137,958	CHC Commercial Mortgage Trust, Class C, Series 2019-CHC, 3.07%(US0001M+175bps), 6/15/34(b)		132,900


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	75,000	CIM Retail Portfolio Trust, Class D, Series 2021-RETL, 4.38%(US0001M+305bps), 8/15/36(b)	$	72,999
	27,797	CIM Retail Portfolio Trust, Class C, Series 2021-RETL, 3.62%(US0001M+230bps), 8/15/36(b)		27,180
	328,000	Columbia Cent CLO 29, Ltd., Class AR, Series 2020-29A, 2.23%(US0003M+117bps), 10/20/34, Callable 10/20/23 @ 100(b)		315,235
	580,000	Columbia Cent CLO 30, Ltd., Class A1, Series 2020-30A, 2.37%(US0003M+131bps), 1/20/34, Callable 4/20/23 @ 100(b)		564,768
	440,000	Columbia Cent CLO 31, Ltd., Class A1, Series 2021-31A, 2.26%(US0003M+120bps), 4/20/34, Callable 7/20/23 @ 100(b)		423,918
	83,000	Commercial Mortgage Trust, Class A5, Series 2014-CR18, 3.83%, 7/15/47, Callable 6/15/24 @ 100		82,400
	205,000	Credit Suisse Mortgage Capital Certificates, Class B, Series 2019-ICE4, 2.55%(US0001M+123bps), 5/15/36(b)		200,133
	116,481	Credit Suisse Mortgage Capital Certificates, Class A, Series 2020-NET, 2.26%, 8/15/37(b)		107,929
	309,000	CSMC Trust, Class A, Series 2018, 4.28%, 4/15/36(b)		304,810
	100,000	CSMC Trust, Class B, Series 2018, 4.53%, 4/15/36(b)		97,828
	128,000	CSMC Trust, Class D, Series 2018, 4.78%, 4/15/36(b)		119,747
	1,384,000	CSMC Trust, Class D, Series 2017-PFHP, 3.57%(US0001M+225bps), 12/15/30(b)		1,378,187
	100,000	CSMC Trust, Class C, Series 2018, 4.78%, 4/15/36(b)		97,305
	250,000	Dryden 76 CLO, Ltd., Class A1R, Series 2019-76A, 2.21%(US0003M+115bps), 10/20/34, Callable 10/20/23 @ 100(b)		241,364
	382,000	Dryden 83 CLO, Ltd., Class A, Series 2020-83A, 2.26%(US0003M+122bps), 1/18/32, Callable 7/18/22 @ 100(b)		373,711
	296,000	Dryden 85 CLO, Ltd., Class AR, Series 2020-85A, 2.19%(US0003M+115bps), 10/15/35, Callable 10/15/23 @ 100(b)		285,169
	250,000	Dryden 90 CLO, Ltd., Class A1A, Series 2021-90A, 2.61%(US0003M+113bps), 2/20/35, Callable 2/20/24 @ 100(b)		240,555
	250,000	Dryden 98 CLO, Ltd., Class A, Series 2022-98A, 2.20%(TSFR3M+130bps), 4/20/35, Callable 4/20/24 @ 100(b)		240,251
	300,000	Dryden CLO, Ltd., Class A, Series 2020-78A, 2.22%(US0003M+118bps), 4/17/33, Callable 7/17/22 @ 100(b)		291,442
	250,000	Eaton Vance CLO, Ltd., Class A13R, Series 2013-1A, 2.29%(US0003M+125bps), 1/15/34, Callable 1/15/23 @ 100(b)		243,319
	378,000	Eaton Vance CLO, Ltd., Class AR, Series 2020-2A, 2.19%(US0003M+115bps), 1/15/35, Callable 1/15/24 @ 100(b)		365,570
	612,000	ELP Commercial Mortgage Trust, Class A, Series 2021-ELP, 2.03%(US0001M+70bps), 11/15/36(b)		584,454
	99,388	Extended Stay America Trust, Class C, Series 2021-ESH, 3.03%(US0001M+170bps), 7/15/38(b)		96,152
	213,685	Extended Stay America Trust, Class A, Series 2021-ESH, 2.41%(US0001M+108bps), 7/15/38(b)		208,317
	121,254	Extended Stay America Trust, Class B, Series 2021-ESH, 2.71%(US0001M+138bps), 7/15/38(b)		117,609


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	134,174	Extended Stay America Trust, Class D, Series 2021-ESH, 3.58%(US0001M+225bps), 7/15/38(b)	$	129,463
	250,000	Flatiron CLO 19, Ltd., Class AR, Series 2019-1A, 2.49%(US0003M+108bps), 11/16/34, Callable 11/16/22 @ 100(b)		242,183
	430,000	Flatiron CLO 20, Ltd., Class A, Series 2020-1A, 2.78%(US0003M+130bps), 11/20/33, Callable 11/20/22 @ 100(b)		418,049
	250,000	Flatiron CLO 21, Ltd., Class A1, Series 2021-1A, 2.15%(US0003M+111bps), 7/19/34, Callable 7/19/23 @ 100(b)		241,050
	100,000	GS Mortgage Securities Corp. Trust, Class B, Series 2021-IP, 2.47%(US0001M+115bps), 10/15/36(b)		96,518
	264,000	GS Mortgage Securities Corp. Trust, Class A, Series 2021-IP, 2.27%(US0001M+95bps), 10/15/36(b)		254,332
	250,000	Invesco CLO, Ltd., Class A, Series 2021-3A, 2.27%(US0003M+113bps), 10/22/34, Callable 10/22/23 @ 100(b)		240,117
	133,000	J.P. Morgan Chase Commercial Mortgage Securities Trust, Class EFX, Series 2018-WPT, 5.54%, 7/5/23(b)		131,000
	97,000	J.P. Morgan Chase Commercial Mortgage Securities Trust, Class DFX, Series 2018-WPT, 5.35%, 7/5/23(b)		93,905
	63,000	J.P. Morgan Chase Commercial Mortgage Securities Trust, Class CFX, Series 2018-WPT, 4.95%, 7/5/23(b)		62,029
	506,000	KKR CLO 41, Ltd., Class A1, Series 2022-41A, 2.02%(TSFR3M+133bps), 4/15/35, Callable 4/15/24 @ 100(b)		485,632
	388,273	Life Mortgage Trust, Class A, Series 2021-BMR, 2.02%(US0001M+70bps), 3/15/38(b)		372,230
	98,297	Life Mortgage Trust, Class B, Series 2021-BMR, 2.20%(US0001M+88bps), 3/15/38(b)		93,614
	580,000	Life Mortgage Trust, Class A1, Series 2022-BMR2, 2.57%(TSFR1M+130bps), 5/15/39, Callable 5/15/24 @ 100(b)		565,460
	173,000	Life Mortgage Trust, Class D, Series 2022-BMR2, 3.82%(TSFR1M+254bps), 5/15/39, Callable 5/15/24 @ 100(b)		165,205
	194,000	Life Mortgage Trust, Class C, Series 2022-BMR2, 3.37%(TSFR1M+209bps), 5/15/39, Callable 5/15/24 @ 100(b)		187,192
	347,000	Life Mortgage Trust, Class B, Series 2022-BMR2, 3.07%(TSFR1M+179bps), 5/15/39, Callable 5/15/24 @ 100(b)		336,561
	98,297	Life Mortgage Trust, Class C, Series 2021-BMR, 2.42%(US0001M+110bps), 3/15/38(b)		93,368
	98,297	Life Mortgage Trust, Class E, Series 2021-BMR, 3.07%(US0001M+175bps), 3/15/38(b)		91,648
	98,297	Life Mortgage Trust, Class D, Series 2021-BMR, 2.72%(US0001M+140bps), 3/15/38(b)		92,903
	250,000	Lucali CLO, Ltd., Class A, Series 2020-1A, 2.25%(US0003M+121bps), 1/15/32, Callable 7/15/22 @ 100(b)		243,935
	460,000	Madison Park Funding L, Ltd., Class A, Series 2021-50A, 2.18%(US0003M+114bps), 4/19/34, Callable 4/19/23 @ 100(b)		446,220


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	369,000	Madison Park Funding LII, Ltd., Class A, Series 2021-52A, 2.24%(US0003M+110bps), 1/22/35, Callable 1/22/24 @ 100(b)	$	353,750
	250,000	Madison Park Funding XLV, Ltd., Class AR, Series 2020-45A, 2.16%(US0003M+112bps), 7/15/34, Callable 7/15/23 @ 100(b)		242,288
	274,335	Madison Park Funding, Ltd., Class A1R2, Series 2015-19A, 2.06%(US0003M+92bps), 1/22/28, Callable 7/22/22 @ 100(b)		270,319
	325,000	Magnetite XXI, Ltd., Class AR, Series 2019-21A, 2.08%(US0003M+102bps), 4/20/34, Callable 7/20/22 @ 100(b)		313,403
	271,000	Magnetite XXIII, Ltd., Class AR, Series 2019-23A, 2.31%(US0003M+113bps), 1/25/35, Callable 1/25/24 @ 100(b)		260,848
	400,000	Magnetite XXIX, Ltd., Class A, Series 2021-29A, 2.03%(US0003M+99bps), 1/15/34, Callable 7/15/22 @ 100(b)		389,750
	250,000	Magnetite XXVII, Ltd., Class AR, Series 2020-27A, 2.20%(US0003M+114bps), 10/20/34, Callable 10/20/23 @ 100(b)		241,140
	400,000	Magnetite XXX, Ltd., Class A, Series 2021-30A, 2.31%(US0003M+113bps), 10/25/34, Callable 10/25/23 @ 100(b)		386,140
	464,000	Milos CLO, Ltd., Class AR, Series 2017-1A, 2.13%(US0003M+107bps), 10/20/30, Callable 7/20/22 @ 100(b)		455,216
	82,000	Morgan Stanley Capital I Trust, Class C, Series 2019-Mead, 3.28%, 11/10/36, Callable 11/10/24 @ 100(b)(c)		78,624
	200,000	Morgan Stanley Capital I Trust, Class A4, Series 2018-H4, 4.31%, 12/15/51, Callable 12/15/28 @ 100		197,772
	86,000	Morgan Stanley Capital I Trust, Class B, Series 2019-Mead, 3.18%, 11/10/36, Callable 11/10/24 @ 100(b)		83,283
	731,260	Morgan Stanley Capital I Trust, Class C, Series 2018-BOP, 2.82%(US0001M+150bps), 6/15/35(b)		719,665
	593,000	Morgan Stanley Capital I Trust, Class A, Series 2019-Mead, 3.17%, 11/10/36, Callable 11/10/24 @ 100(b)		560,355
	303,344	Morgan Stanley Capital I Trust, Class B, Series 2018-BOP, 2.57%(US0001M+125bps), 6/15/35(b)		304,084
	250,000	Peace Park CLO, Ltd., Class A, Series 2021-1A, 2.19%(US0003M+113bps), 10/20/34, Callable 10/20/23 @ 100(b)		242,107
	24,835	Prima Capital CRE Securitization, Class A, Series 2021-9A, 3.05%(US0001M+145bps), 12/15/37(b)		24,835
	470,000	Rockland Park CLO, Ltd., Class A, Series 2021-1A, 2.18%(US0003M+112bps), 4/20/34, Callable 4/20/23 @ 100(b)		455,885
	420,000	RR 7, Ltd., Class A1AB, Series 2019-7A, 1.52%(TSFR3M+134bps), 1/15/37, Callable 7/15/22 @ 100(b)		404,675
	53,000	SPGN Mortgage Trust, Class C, Series 2022-TFLM, 3.93%(TSFR1M+265bps), 2/15/39, Callable 2/15/24 @ 100(b)		51,791


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	103,000	SPGN Mortgage Trust, Class B, Series 2022-TFLM, 3.28%(TSFR1M+200bps), 2/15/39, Callable 2/15/24 @ 100(b)	$	100,616
	410,000	SREIT Trust, Class A, Series 2021-MFP, 2.05%(US0001M+73bps), 11/15/38(b)		388,961
	235,000	SREIT Trust, Class B, Series 2021-MFP, 2.40%(US0001M+108bps), 11/15/38(b)		221,443
	146,000	SREIT Trust, Class C, Series 2021-MFP, 2.65%(US0001M+133bps), 11/15/38(b)		136,911
	100,000	SREIT Trust, Class D, Series 2021-MFP, 2.90%(US0001M+158bps), 11/15/38(b)		93,502
	350,000	Symphony CLO XXVI, Ltd., Class AR, Series 2021-26A, 2.14%(US0003M+108bps), 4/20/33, Callable 7/20/22 @ 100(b)		338,551
	434,000	Symphony CLO XXXII, Ltd., Class A1, Series 2022-32A, 1.63%(TSFR3M+132bps), 4/23/35(b)		414,965
	370,000	VLS Commercial Mortgage Trust, Class A, Series 2020-LAB, 2.13%, 10/10/42(b)		305,076
	20,000	VLS Commercial Mortgage Trust, Class B, Series 2020-LAB, 2.45%, 10/10/42(b)		16,225
	516,000	Voya CLO, Ltd., Class A, Series 2019-2, 2.33%(US0003M+127bps), 7/20/32, Callable 7/20/22 @ 100(b)		504,508
	250,000	Voya CLO, Ltd., Class A1R, Series 2020-2A, 2.20%(US0003M+116bps), 7/19/34, Callable 7/19/23 @ 100(b)		241,897
	444,000	Voya CLO, Ltd., Class AR, Series 2020-3A, 2.21%(US0003M+115bps), 10/20/34, Callable 10/20/23 @ 100(b)		428,076
	250,000	Voya CLO, Ltd., Class AR, Series 2020-1A, 2.19%(US0003M+115bps), 7/16/34, Callable 7/16/23 @ 100(b)		241,549
	234,000	Wells Fargo Commercial Mortgage Trust, Class A5, Series 2018-C48, 4.30%, 1/15/52, Callable 12/15/28 @ 100		233,347
	261,000	Wells Fargo Commercial Mortgage Trust, Class A, Series 2021-FCMT, 2.52%(US0001M+120bps), 5/15/31(b)		251,018

	Total Collateralized Mortgage Obligations (Cost $37,250,033)			35,933,645

Convertible Bonds (0.3%):
Entertainment (0.0%^†):
	37,000	Live Nation Entertainment, Inc., 2.00%, 2/15/25		38,270

Hotels, Restaurants & Leisure (0.0%^†):
	38,000	Booking Holdings, Inc., 0.75%, 5/1/25^		45,282
	40,000	Vail Resorts, Inc., 3.77%, 1/1/26		35,135

				80,417

Leisure Products (0.0%^†):
	28,000	Callaway Golf Co., 2.75%, 5/1/26		38,131

Media (0.1%):
	85,000	DISH Network Corp., 2.38%, 3/15/24		75,276
	209,000	DISH Network Corp., 3.38%, 8/15/26		140,486

			215,762

Oil, Gas & Consumable Fuels (0.2%):
	79,890	Mesquite Energy, Inc., 15.00%, 7/15/23(a)(d)		386,668
	46,865	Mesquite Energy, Inc., 15.00%, 7/15/23(a)(d)		248,853

				635,521


Principal Amount			Value
Convertible Bonds, continued
Professional Services (0.0%^†):
$	23,000	FTI Consulting, Inc., 2.00%, 8/15/23	$	41,130
	33,000	KBR, Inc., 2.50%, 11/1/23		63,432

				104,562

Semiconductors & Semiconductor Equipment (0.0%^†):
	13,000	ON Semiconductor Corp., 1.63%, 10/15/23		31,954

	Total Convertible Bonds (Cost $634,098)			1,144,617

Bank Loans (0.2%):
Chemicals (0.0%^†):
	24,813	Consolidated Energy Term Incr B 1Ln, 0.04% (LIBOR+350bps)		23,572
	9,975	Diversey Term B 1Ln, 0.03% (LIBOR+300bps), 9/29/28		9,189

				32,761

Construction & Engineering (0.0%^†):
	50,000	Convergint Tech Term 2Ln, 0.07% (LIBOR+675bps), 3/31/29		48,000
	9,925	Convergint Tech Term B 1Ln, 0.04% (LIBOR+350bps), 3/31/28		9,252

				57,252

Diversified Consumer Services (0.1%):
	5,000	Ascend Learning Term 2Ln, 0.06% (LIBOR+575bps), 11/18/29		4,575
	74,813	Ascend Learning Term Ln, 0.04% (LIBOR+350bps), 11/17/28		68,921

				73,496

Hotels, Restaurants & Leisure (0.1%):
	109,725	City Football Group Term B 1Ln, 0.04% (LIBOR+350bps), 7/9/28, Callable 8/5/22 @ 100		100,398
	75,664	Diamond Sports Broadcasting Term B 1Ln, 0.03% (LIBOR+325bps), 8/24/26, Callable 8/5/22 @ 100		17,403
	170,013	Golden Entertainment Term B 1Ln, 0.03% (LIBOR+300bps), 10/20/24, Callable 8/5/22 @ 100		165,285

				283,086

Industrial Products (0.0%^†):
	50,000	Brookfield Wec Holdings, Inc., 0.04%, 8/1/25		47,965

Media (0.0%^†):
	52,062	Sinclair Broadcasting, 0.08%, 5/25/26		51,715

Software (0.0%^†):
	6,771	Ion Analytics Term 1Ln, 0.04% (LIBOR+400bps), 2/4/28		6,365

Software & Tech Services (0.0%^†):
	47,029	athenahealth, 0.04%, 2/15/29		43,179
	7,971	athenahealth, 0.04%, 2/15/29		7,318

				50,497

	Total Bank Loans (Cost $655,100)			603,137

Corporate Bonds (32.8%):
Aerospace & Defense (0.6%):
	214,000	Boeing Co. (The), 5.04%, 5/1/27, Callable 3/1/27 @ 100		210,977
	214,000	Boeing Co. (The), 5.15%, 5/1/30, Callable 2/1/30 @ 100		205,316
	200,000	Boeing Co. (The), 5.71%, 5/1/40, Callable 11/1/39 @ 100		188,405


Principal Amount			Value
Corporate Bonds, continued
Aerospace & Defense, continued
$	200,000	Boeing Co. (The), 5.81%, 5/1/50, Callable 11/1/49 @ 100	$	184,710
	210,000	Boeing Co. (The), 5.93%, 5/1/60, Callable 11/1/59 @ 100		195,862
	125,000	BWX Technologies, Inc., 4.13%, 6/30/28, Callable 6/30/23 @ 102.06(b)		110,000
	170,000	BWX Technologies, Inc., 4.13%, 4/15/29, Callable 4/15/24 @ 102.06(b)		149,812
	5,000	Howmet Aerospace, Inc., 5.95%, 2/1/37		4,637
	65,000	Moog, Inc., 4.25%, 12/15/27, Callable 12/15/22 @ 103.19(b)		56,063
	60,000	TransDigm UK Holdings PLC, 6.88%, 5/15/26, Callable 8/8/22 @ 103.44		56,100
	60,000	TransDigm, Inc., 6.38%, 6/15/26, Callable 8/8/22 @ 101.59		56,400
	55,000	TransDigm, Inc., 7.50%, 3/15/27, Callable 8/8/22 @ 103.75		51,975
	610,000	TransDigm, Inc., 5.50%, 11/15/27, Callable 11/15/22 @ 102.75		516,213
	115,000	TransDigm, Inc., 4.88%, 5/1/29, Callable 5/1/24 @ 102.44		93,150

				2,079,620

Air Freight & Logistics (0.0%^†):
	100,000	Cargo Aircraft Management, Inc., 4.75%, 2/1/28, Callable 2/1/23 @ 102.38(b)		91,000
	93,000	XPO Logistics, Inc., 6.25%, 5/1/25, Callable 8/8/22 @ 103.13(b)		92,303

				183,303

Auto Components (0.0%^†):
	55,000	Dana, Inc., 4.50%, 2/15/32, Callable 2/15/27 @ 102.25		41,250

Automobiles (0.4%):
	199,000	Magallanes, Inc., 3.43%, 3/15/24(b)		195,508
	109,000	Magallanes, Inc., 3.64%, 3/15/25(b)		105,742
	213,000	Magallanes, Inc., 3.76%, 3/15/27, Callable 2/15/27 @ 100(b)		199,801
	74,000	Magallanes, Inc., 4.05%, 3/15/29, Callable 1/15/29 @ 100(b)		67,782
	310,000	Magallanes, Inc., 4.28%, 3/15/32, Callable 12/15/31 @ 100(b)		277,000
	155,000	Magallanes, Inc., 5.05%, 3/15/42, Callable 9/15/41 @ 100(b)		131,991
	234,000	Magallanes, Inc., 5.14%, 3/15/52, Callable 9/15/51 @ 100(b)		197,693
	55,000	Magic Mergeco, Inc., 5.25%, 5/1/28, Callable 11/1/23 @ 102.63^(b)		43,175
	105,000	Michaels Cos., Inc. (The), 7.88%, 5/1/29, Callable 5/1/24 @ 103.94(b)		69,300
	75,000	Thor Industries, Inc., 4.00%, 10/15/29, Callable 10/15/24 @ 102(b)		59,063
	309,000	Volkswagen Group of America Finance LLC, 3.13%, 5/12/23(b)		306,611

				1,653,666


Principal Amount			Value
Corporate Bonds, continued
Banks (3.0%):
$	656,000	Bank of America Corp., 4.20%, 8/26/24, MTN	$	658,575
	612,000	Bank of America Corp., Series L, 3.95%, 4/21/25, MTN		603,707
	128,000	Bank of America Corp., Series G, 4.45%, 3/3/26		127,361
	930,000	Bank of America Corp., 2.30% (SOFR+122 bps), 7/21/32, Callable 7/21/31 @ 100		753,274
	100,000	CIT Group, Inc., 3.93% (SOFR+4 bps), 6/19/24, Callable 6/19/23 @ 100		99,750
	245,000	CIT Group, Inc., 6.13%, 3/9/28		254,800
	1,090,000	Citigroup, Inc., Series V, 4.05%, 7/30/22		1,091,786
	393,000	Citigroup, Inc., 3.35% (US0003M+90 bps), 4/24/25, Callable 4/24/24 @ 100		386,657
	1,642,000	Citigroup, Inc., 4.30%, 11/20/26		1,620,193
	471,000	Citigroup, Inc., 4.91% (SOFR+209 bps), 5/24/33, Callable 5/24/32 @ 100		464,892
	200,000	Citizens Financial Group, Inc., 2.64%, 9/30/32, Callable 7/2/32 @ 100		160,691
	2,994,000	JPMorgan Chase & Co., 3.88%, 9/10/24		2,986,620
	267,000	JPMorgan Chase & Co., 2.96% (SOFR+252 bps), 5/13/31, Callable 5/13/30 @ 100		231,229
	296,000	Wells Fargo & Co., 2.41% (US0003M+83 bps), 10/30/25, Callable 10/30/24 @ 100, MTN		282,651
	449,000	Wells Fargo & Co., 3.53% (SOFR+151 bps), 3/24/28, Callable 3/24/27 @ 100		426,003
	938,000	Wells Fargo & Co., 4.48% (US0003M+4 bps), 4/4/31, Callable 4/4/30 @ 100, MTN		919,742

				11,067,931

Beverages (0.6%):
	500,000	Anheuser-Busch InBev Worldwide, Inc., 3.50%, 6/1/30, Callable 3/1/30 @ 100		469,936
	220,000	Anheuser-Busch InBev Worldwide, Inc., 4.35%, 6/1/40, Callable 12/1/39 @ 100		197,818
	500,000	Anheuser-Busch InBev Worldwide, Inc., 4.50%, 6/1/50, Callable 12/1/49 @ 100		450,795
	509,000	Anheuser-Busch InBev Worldwide, Inc., 4.75%, 4/15/58, Callable 10/15/57 @ 100		459,526
	523,000	Anheuser-Busch InBev Worldwide, Inc., 5.80%, 1/23/59, Callable 7/23/58 @ 100		548,333
	150,000	Triton Water Holdings, Inc., 6.25%, 4/1/29, Callable 4/1/24 @ 103.13(b)		106,500

				2,232,908

Biotechnology (0.0%^†):
	245,000	Emergent BioSolutions, Inc., 3.88%, 8/15/28, Callable 8/15/23 @ 101.94(b)		174,256

Building Products (0.1%):
	255,000	Advanced Drainage Systems, Inc., 5.00%, 9/30/27, Callable 9/30/22 @ 102.5(b)		234,919
	55,000	Builders FirstSource, Inc., 4.25%, 2/1/32, Callable 8/1/26 @ 102.13(b)		41,800
	15,000	Roller Bearing Co. of America, Inc., 4.38%, 10/15/29, Callable 10/15/24 @ 102.19(b)		12,768

				289,487

Capital Markets (2.5%):
	282,000	Affiliated Managers Group, Inc., 4.25%, 2/15/24		283,649
	572,000	Affiliated Managers Group, Inc., 3.50%, 8/1/25		569,655


Principal Amount			Value
Corporate Bonds, continued
Capital Markets, continued
$	706,000	Ares Capital Corp., 4.20%, 6/10/24, Callable 5/10/24 @ 100	$	690,115
	751,000	Ares Capital Corp., 3.88%, 1/15/26, Callable 12/15/25 @ 100		692,800
	843,000	Blackstone Private Credit Fund, 4.70%, 3/24/25(b)		811,987
	140,000	Coinbase Global, Inc., 3.38%, 10/1/28, Callable 10/1/24 @ 101.69(b)		87,500
	305,000	Coinbase Global, Inc., 3.63%, 10/1/31, Callable 10/1/26 @ 101.81(b)		169,275
	1,140,000	Goldman Sachs Group, Inc. (The), 3.80%, 3/15/30, Callable 12/15/29 @ 100		1,058,561
	510,000	Goldman Sachs Group, Inc. (The), 2.38% (SOFR+125 bps), 7/21/32, Callable 7/21/31 @ 100		413,239
	194,000	Goldman Sachs Group, Inc. (The), 6.75%, 10/1/37		215,962
	70,000	HAT Holdings I LLC / HAT Holdings II LLC, 3.38%, 6/15/26, Callable 3/15/26 @ 100(b)		60,200
	25,000	LCM Investments Holdings II LLC, 4.88%, 5/1/29, Callable 5/1/24 @ 102.44(b)		19,125
	25,000	ModivCare Escrow Issuer, Inc., 5.00%, 10/1/29, Callable 10/1/24 @ 102.5(b)		20,250
	2,124,000	Morgan Stanley, 3.74% (US0003M+85 bps), 4/24/24, Callable 4/24/23 @ 100		2,117,624
	632,000	Morgan Stanley, 3.62% (SOFR+312 bps), 4/1/31, Callable 4/1/30 @ 100		582,153
	170,000	Mozart Debt Merger Sub, Inc., 3.88%, 4/1/29, Callable 10/1/24 @ 101.94(b)		144,500
	70,000	Mozart Debt Merger Sub, Inc., 5.25%, 10/1/29, Callable 10/1/24 @ 102.63(b)		57,750
	45,000	MSCI, Inc., 3.25%, 8/15/33, Callable 8/15/27 @ 101.63(b)		35,775
	190,000	Navios South American Logistics, Inc. / Navios Logistics Finance US, Inc., 10.75%, 7/1/25, Callable 8/8/22 @ 108.06(b)		179,408
	200,000	Olympus Water US Holding Corp., 4.25%, 10/1/28, Callable 10/1/24 @ 102.13(b)		156,000
	457,000	Pine Street Trust I, 4.57%, 2/15/29, Callable 11/15/28 @ 100(b)		443,405
	500,000	Pine Street Trust II, 5.57%, 2/15/49, Callable 8/15/48 @ 100(b)		487,715
	20,000	Real Hero Merger Sub 2, Inc., 6.25%, 2/1/29, Callable 2/1/24 @ 103.13(b)		15,150
	50,000	US Renal Care, Inc., 10.63%, 7/15/27, Callable 8/8/22 @ 105.31(b)		17,250
	80,000	Victors Merger Corp., 6.38%, 5/15/29, Callable 5/15/24 @ 103.19(b)		48,800

				9,377,848

Chemicals (0.3%):
	16,000	CF Industries, Inc., 4.95%, 6/1/43		14,400
	170,000	Chemours Co. (The), 5.38%, 5/15/27, Callable 2/15/27 @ 100		151,088
	355,000	Chemours Co. (The), 5.75%, 11/15/28, Callable 11/15/23 @ 102.88(b)		300,862
	25,000	Diamond BC BV, 4.63%, 10/1/29, Callable 10/1/24 @ 102.31(b)		19,937
	115,000	LSB Industries, Inc., 6.25%, 10/15/28, Callable 10/15/24 @ 103.13(b)		101,775


Principal Amount			Value
Corporate Bonds, continued
Chemicals, continued
$	125,000	Olin Corp., 5.00%, 2/1/30, Callable 2/1/24 @ 102.5	$	106,719
	60,000	Scotts Miracle-Gro Co. (The), 4.38%, 2/1/32, Callable 8/1/26 @ 102.19		45,300
	35,000	Valvoline, Inc., 4.25%, 2/15/30, Callable 2/15/25 @ 102.13(b)		28,875
	135,000	Valvoline, Inc., 3.63%, 6/15/31, Callable 6/15/26 @ 101.81(b)		107,325
	80,000	WR Grace Holdings LLC, 4.88%, 6/15/27, Callable 6/15/23 @ 102.44(b)		69,605
	55,000	WR Grace Holdings LLC, 5.63%, 8/15/29, Callable 8/15/24 @ 102.81(b)		41,250

				987,136

Commercial Services & Supplies (0.2%):
	55,000	ADT Security Corp. (The), 4.13%, 8/1/29, Callable 8/1/28 @ 100(b)		44,825
	165,000	Aramark Services, Inc., 5.00%, 2/1/28, Callable 2/1/23 @ 102.5(b)		150,150
	255,000	CoreCivic, Inc., 8.25%, 4/15/26, Callable 4/15/24 @ 104.13		248,944
	35,000	Legends Hospitality Holding Co. LLC / Legends Hospitality Co-Issuer, Inc., 5.00%, 2/1/26, Callable 2/1/23 @ 102.5(b)		29,313
	35,000	Pitney Bowes, Inc., 6.88%, 3/15/27, Callable 3/15/24 @ 103.44^(b)		27,606
	70,000	Pitney Bowes, Inc., 7.25%, 3/15/29, Callable 3/15/24 @ 103.63(b)		52,850
	120,000	Stericycle, Inc., 3.88%, 1/15/29, Callable 11/15/23 @ 101.94(b)		98,100

				651,788

Communications Equipment (0.1%):
	170,000	CommScope, Inc., 6.00%, 3/1/26, Callable 8/8/22 @ 103(b)		157,250
	90,000	CommScope, Inc., 7.13%, 7/1/28, Callable 7/1/23 @ 103.56(b)		68,400
	90,000	CommScope, Inc., 4.75%, 9/1/29, Callable 9/1/24 @ 102.38(b)		72,450
	115,000	Viavi Solutions, Inc., 3.75%, 10/1/29, Callable 10/1/24 @ 101.88(b)		97,750

				395,850

Construction & Engineering (0.2%):
	40,000	Arcosa, Inc., 4.38%, 4/15/29, Callable 4/15/24 @ 102.19(b)		33,800
	455,000	Brand Industrial Services, Inc., 8.50%, 7/15/25, Callable 8/8/22 @ 102.13(b)		341,250
	105,000	Dycom Industries, Inc., 4.50%, 4/15/29, Callable 4/15/24 @ 102.25(b)		91,350
	80,000	Global Infrastructure Solutions, Inc., 5.63%, 6/1/29, Callable 6/1/24 @ 102.81(b)		62,200
	35,000	Great Lakes Dredge & Dock Corp., 5.25%, 6/1/29, Callable 6/1/24 @ 102.63(b)		30,275
	350,000	Pike Corp., 5.50%, 9/1/28, Callable 9/1/23 @ 102.75(b)		280,875

				839,750


Principal Amount			Value
Corporate Bonds, continued
Consumer Discretionary Products (0.0%^†):
$	125,000	Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc., 4.63%, 1/15/29, Callable 1/15/25 @ 102.31(b)	$	106,563

Consumer Discretionary Services (0.0%^†):
	70,000	Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc., 6.75%, 1/15/30, Callable 1/15/25 @ 103.38(b)		53,550
	115,000	RP Escrow Issuer LLC, 5.25%, 12/15/25, Callable 12/15/22 @ 102.63(b)		99,475

				153,025

Consumer Finance (2.5%):
	578,000	Ally Financial, Inc., 3.05%, 6/5/23, Callable 5/5/23 @ 100		572,103
	130,000	Ally Financial, Inc., 1.45%, 10/2/23, Callable 9/2/23 @ 100		125,726
	148,000	Ally Financial, Inc., 5.13%, 9/30/24		150,219
	330,000	Ally Financial, Inc., 5.80%, 5/1/25, Callable 4/1/25 @ 100		337,367
	200,000	Ally Financial, Inc., 4.70% (H15T5Y+387 bps), 12/31/99, Callable 5/15/26 @ 100		161,306
	462,000	Capital One Financial Corp., 2.60%, 5/11/23, Callable 4/11/23 @ 100		458,170
	237,000	Capital One Financial Corp., 2.64% (SOFR+129 bps), 3/3/26, Callable 3/3/25 @ 100		224,095
	833,000	Capital One Financial Corp., 3.65%, 5/11/27, Callable 4/11/27 @ 100		792,611
	636,000	Capital One Financial Corp., 3.80%, 1/31/28, Callable 12/31/27 @ 100		598,294
	303,000	Capital One Financial Corp., 3.27% (SOFR+179 bps), 3/1/30, Callable 3/1/29 @ 100		268,250
	250,000	Discover Bank, Series B, 4.68% (USSW5+173 bps), 8/9/28, Callable 8/9/23 @ 100		246,259
	383,000	Discover Financial Services, 4.50%, 1/30/26, Callable 11/30/25 @ 100		377,411
	355,000	Discover Financial Services, 4.10%, 2/9/27, Callable 11/9/26 @ 100		341,295
	110,000	Ford Motor Credit Co LLC, 4.13%, 8/17/27, Callable 6/17/27 @ 100		95,949
	215,000	Ford Motor Credit Co LLC, 4.00%, 11/13/30, Callable 8/13/30 @ 100		172,532
	504,000	Ford Motor Credit Co. LLC, 5.58%, 3/18/24, Callable 2/18/24 @ 100		501,569
	1,490,000	Ford Motor Credit Co. LLC, 4.06%, 11/1/24, Callable 10/1/24 @ 100		1,412,228
	80,000	Ford Motor Credit Co. LLC, 5.13%, 6/16/25, Callable 5/16/25 @ 100		76,970
	240,000	Ford Motor Credit Co. LLC, 5.11%, 5/3/29, Callable 2/3/29 @ 100		215,423
	175,000	OneMain Finance Corp., 6.88%, 3/15/25		165,375
	110,000	OneMain Finance Corp., 3.50%, 1/15/27, Callable 1/15/24 @ 101.75		87,450
	100,000	OneMain Finance Corp., 3.88%, 9/15/28, Callable 9/15/24 @ 101.94		76,500
	170,000	OneMain Finance Corp., 4.00%, 9/15/30, Callable 9/15/25 @ 102		125,163


Principal Amount			Value
Corporate Bonds, continued
Consumer Finance, continued
$	381,000	Synchrony Financial, 4.38%, 3/19/24, Callable 2/19/24 @ 100	$	379,370
	577,000	Synchrony Financial, 4.25%, 8/15/24, Callable 5/15/24 @ 100		571,619
	663,000	Synchrony Financial, 3.95%, 12/1/27, Callable 9/1/27 @ 100		607,176

				9,140,430

Consumer Staple Products (0.2%):
	190,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 5.13%, 2/1/28, Callable 1/1/28 @ 100(b)		184,537
	395,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 5.75%, 4/1/33, Callable 1/1/33 @ 100(b)		388,702

				573,239

Containers & Packaging (0.0%^†):
	5,000	Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc., 4.13%, 8/15/26, Callable 8/15/22 @ 102.06(b)		4,231
	85,000	Ball Corp., 3.13%, 9/15/31, Callable 6/15/31 @ 100		68,319
	30,000	Graphic Packaging International LLC, 3.75%, 2/1/30, Callable 8/1/29 @ 100(b)		25,463

				98,013

Diversified Consumer Services (0.1%):
	89,000	Adtalem Global Education, Inc., 5.50%, 3/1/28, Callable 3/1/24 @ 102.75(b)		79,432
	32,000	Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 6/1/28, Callable 6/1/24 @ 102.31(b)		26,040
	141,000	APX Group, Inc., 6.75%, 2/15/27, Callable 2/15/23 @ 103.38(b)		130,954

				236,426

Diversified Financial Services (0.3%):
	85,000	Acrisure LLC / Acrisure Finance, Inc., 6.00%, 8/1/29, Callable 8/1/24 @ 103(b)		66,512
	59,000	AXA Equitable Holdings, Inc., 3.90%, 4/20/23, Callable 3/20/23 @ 100		59,128
	144,000	Jackson Financial, Inc., 5.17%, 6/8/27, Callable 5/8/27 @ 100		142,960
	182,000	Jackson Financial, Inc., 5.67%, 6/8/32, Callable 3/8/32 @ 100		176,268
	20,000	Level 3 Financing, Inc., 3.63%, 1/15/29, Callable 1/15/24 @ 101.81(b)		15,400
	55,000	OI European Group BV, 4.75%, 2/15/30, Callable 11/15/24 @ 102.38(b)		46,200
	500,000	Peachtree Funding Trust, 3.98%, 2/15/25(b)		495,516
	70,000	Venture Global Calcasieu Pass LLC, 3.88%, 8/15/29, Callable 2/15/29 @ 100(b)		60,725
	65,000	Venture Global Calcasieu Pass LLC, 4.13%, 8/15/31, Callable 2/15/31 @ 100(b)		55,575
	55,000	Venture Global Calcasieu Pass LLC, 3.88%, 11/1/33, Callable 5/1/33 @ 100(b)		44,963

				1,163,247


Principal Amount			Value
Corporate Bonds, continued
Diversified Telecommunication Services (0.7%):
$	215,000	AT&T, Inc., 4.30%, 2/15/30, Callable 11/15/29 @ 100	$	209,427
	109,000	AT&T, Inc., 2.55%, 12/1/33, Callable 9/1/33 @ 100		88,354
	500,000	AT&T, Inc., 5.15%, 11/15/46, Callable 5/15/46 @ 100		494,918
	351,000	AT&T, Inc., 3.80%, 12/1/57, Callable 6/1/57 @ 100		273,137
	125,000	CenturyLink, Inc., 5.63%, 4/1/25, Callable 1/1/25 @ 100		117,188
	360,000	CenturyLink, Inc., 5.13%, 12/15/26, Callable 12/15/22 @ 102.56(b)		302,400
	10,000	CenturyLink, Inc., Series G, 6.88%, 1/15/28		8,762
	80,000	Cogent Communications Group, Inc., 3.50%, 5/1/26, Callable 2/1/26 @ 100(b)		73,500
	40,000	Consolidated Communications, Inc., 5.00%, 10/1/28, Callable 10/1/23 @ 103.75(b)		31,950
	30,000	Front Range BidCo, Inc., 6.13%, 3/1/28, Callable 3/1/23 @ 103.06(b)		21,675
	60,000	Frontier Communications Corp., 5.88%, 10/15/27, Callable 10/15/23 @ 102.94(b)		53,850
	65,000	Frontier Communications Corp., 5.00%, 5/1/28, Callable 5/1/24 @ 102.5(b)		55,494
	70,000	Frontier Communications Corp., 6.75%, 5/1/29, Callable 5/1/24 @ 103.38(b)		56,875
	8,244	Frontier Communications Holdings LLC, 5.88%, 11/1/29, Callable 11/1/24 @ 102.94		6,348
	70,000	Frontier Communications Holdings LLC, 6.00%, 1/15/30, Callable 10/15/24 @ 103(b)		54,075
	85,000	Lumen Technologies, Inc., 5.38%, 6/15/29, Callable 6/15/24 @ 102.69(b)		66,725
	323,000	Verizon Communications, Inc., 2.10%, 3/22/28, Callable 1/22/28 @ 100		285,930
	299,000	Verizon Communications, Inc., 2.55%, 3/21/31, Callable 12/21/30 @ 100		256,436
	250,000	Windstream Escrow LLC / Windstream Escrow Finance Corp., 7.75%, 8/15/28, Callable 8/15/23 @ 103.88(b)		200,625
	85,000	Zayo Group Holdings, Inc., 4.00%, 3/1/27, Callable 8/8/22 @ 100(b)		70,337

				2,728,006

Electric Utilities (0.9%):
	321,000	Alabama Power Co., 3.05%, 3/15/32, Callable 12/15/31 @ 100^		292,941
	326,000	Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27, Callable 10/15/22 @ 103.38(b)		286,880
	20,000	Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 4.25%, 10/15/27, Callable 10/15/23 @ 102.13(b)		17,300
	70,000	Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 5.88%, 11/1/29, Callable 11/1/24 @ 102.94^(b)		57,925
	255,000	Cleco Corporate Holdings LLC, 3.38%, 9/15/29, Callable 6/15/29 @ 100		226,446
	78,000	Duquesne Light Holdings, Inc., 2.53%, 10/1/30, Callable 7/1/30 @ 100(b)		63,887


Principal Amount			Value
Corporate Bonds, continued
Electric Utilities, continued
$	249,000	Duquesne Light Holdings, Inc., 2.78%, 1/7/32, Callable 10/7/31 @ 100(b)	$	205,198
	71,000	Exelon Corp., 2.75%, 3/15/27, Callable 2/15/27 @ 100(b)		66,558
	110,000	Exelon Corp., 4.05%, 4/15/30, Callable 1/15/30 @ 100		105,076
	86,000	Exelon Corp., 3.35%, 3/15/32, Callable 12/15/31 @ 100(b)		77,200
	64,000	Exelon Corp., 4.10%, 3/15/52, Callable 9/15/51 @ 100(b)		55,114
	100,000	Genesis Energy LP / Genesis Energy Finance Corp., 8.00%, 1/15/27, Callable 1/15/24 @ 104		88,250
	211,000	IPALCO Enterprises, Inc., 3.70%, 9/1/24, Callable 7/1/24 @ 100		208,363
	29,000	NextEra Energy Operating Partners LP, 4.25%, 9/15/24, Callable 7/15/24 @ 100(b)		27,695
	140,000	NRG Energy, Inc., 5.75%, 1/15/28, Callable 1/15/23 @ 102.88		128,100
	30,000	NRG Energy, Inc., 3.38%, 2/15/29, Callable 2/15/24 @ 101.69(b)		24,150
	55,000	NRG Energy, Inc., 3.63%, 2/15/31, Callable 2/15/26 @ 101.81(b)		43,038
	112,899	NSG Holdings LLC/NSG Holdings, Inc., 7.75%, 12/15/25(b)		110,641
	310,000	Pacific Gas and Electric Co., 4.95%, 7/1/50, Callable 1/1/50 @ 100		248,058
	575,000	PG&E Corp., 5.00%, 7/1/28, Callable 7/1/23 @ 102.5		491,625
	140,000	PG&E Corp., 5.25%, 7/1/30, Callable 7/1/25 @ 102.63^		114,975
	260,000	Vistra Operations Co. LLC, 5.00%, 7/31/27, Callable 7/31/22 @ 102.5(b)		235,950

				3,175,370

Electrical Equipment (0.1%):
	85,000	Artera Services LLC, 9.03%, 12/4/25, Callable 2/4/23 @ 104.52(b)		68,638
	105,000	Sensata Technologies BV, 4.00%, 4/15/29, Callable 4/15/24 @ 102(b)		88,987
	140,000	Vertiv Group Corp., 4.13%, 11/15/28, Callable 11/15/24 @ 102.06(b)		113,400

				271,025

Electronic Equipment, Instruments & Components (0.1%):
	255,000	II-VI, Inc., 5.00%, 12/15/29, Callable 12/14/24 @ 102.5(b)		222,806

Entertainment (0.0%^†):
	140,000	ROBLOX Corp., 3.88%, 5/1/30, Callable 11/1/24 @ 101.94(b)		113,400

Equity Real Estate Investment Trusts (3.2%):
	150,000	American Homes 4 Rent LP, 3.63%, 4/15/32, Callable 1/15/32 @ 100		131,881
	454,000	Brandywine Operating Partners LP, 4.10%, 10/1/24, Callable 7/1/24 @ 100		449,669
	421,000	Brandywine Operating Partners LP, 3.95%, 11/15/27, Callable 8/15/27 @ 100		400,367
	522,000	Brandywine Operating Partners LP, 4.55%, 10/1/29, Callable 7/1/29 @ 100		499,772


Principal Amount			Value
Corporate Bonds, continued
Equity Real Estate Investment Trusts, continued
$	489,000	Brandywine Realty Trust, 3.95%, 2/15/23, Callable 11/15/22 @ 100	$	487,300
	98,000	Corporate Office Properties LP, 2.25%, 3/15/26, Callable 2/15/26 @ 100		88,722
	66,000	Corporate Office Properties LP, 2.75%, 4/15/31, Callable 1/15/31 @ 100		53,842
	35,000	Corrections Corp. of America, 4.63%, 5/1/23, Callable 2/1/23 @ 100		34,825
	65,000	CTR Partnership LP / CareTrust Capital Corp., 3.88%, 6/30/28, Callable 3/30/28 @ 100(b)		54,600
	55,000	GEO Group, Inc. (The), 5.88%, 10/15/24, Callable 8/8/22 @ 100.98		49,363
	170,000	Global Net Lease, Inc. / Global Net Lease Operating Partnership LP, 3.75%, 12/15/27, Callable 9/15/27 @ 100(b)		142,282
	102,000	Healthcare Trust of America Holdings LP, 3.50%, 8/1/26, Callable 5/1/26 @ 100		97,227
	98,000	Healthcare Trust of America Holdings LP, 3.10%, 2/15/30, Callable 11/15/29 @ 100		84,667
	615,000	Hudson Pacific Properties LP, 4.65%, 4/1/29, Callable 1/1/29 @ 100		592,081
	135,000	Lexington Realty Trust, 4.40%, 6/15/24, Callable 3/15/24 @ 100		134,309
	169,000	Omega Healthcare Investors, Inc., 4.38%, 8/1/23, Callable 6/1/23 @ 100		169,569
	126,000	Omega Healthcare Investors, Inc., 4.95%, 4/1/24, Callable 1/1/24 @ 100		126,542
	281,000	Omega Healthcare Investors, Inc., 4.50%, 1/15/25, Callable 10/15/24 @ 100		278,043
	1,931,000	Omega Healthcare Investors, Inc., 4.50%, 4/1/27, Callable 1/1/27 @ 100		1,844,070
	435,000	Omega Healthcare Investors, Inc., 3.63%, 10/1/29, Callable 7/1/29 @ 100		373,596
	194,000	Omega Healthcare Investors, Inc., 3.38%, 2/1/31, Callable 11/1/30 @ 100		157,730
	78,000	Piedmont Operating Partnership LP, 2.75%, 4/1/32, Callable 1/1/32 @ 100		60,479
	35,000	Post Apartment Homes LP, 3.38%, 12/1/22, Callable 9/1/22 @ 100		34,922
	68,000	Retail Opportunity Investments Corp., 5.00%, 12/15/23, Callable 9/15/23 @ 100		68,322
	104,000	Retail Opportunity Investments Corp., 4.00%, 12/15/24, Callable 9/15/24 @ 100		101,325
	22,000	Retail Properties of America, Inc., 4.75%, 9/15/30, Callable 6/15/30 @ 100		20,530
	498,000	Sabra Health Care LP, 3.20%, 12/1/31, Callable 9/1/31 @ 100		396,876
	458,000	SBA Tower Trust, 2.84%, 1/15/25, Callable 1/15/24 @ 100(b)		443,805
	146,000	SBA Tower Trust, 1.88%, 7/15/50, Callable 1/15/25 @ 100(b)		135,072
	111,000	SBA Tower Trust, 2.33%, 7/15/52, Callable 7/15/26 @ 100(b)		99,249
	65,000	Service Properties Trust, 4.95%, 2/15/27, Callable 8/15/26 @ 100		47,694
	55,000	Service Properties Trust, 5.50%, 12/15/27, Callable 9/15/27 @ 100		44,412


Principal Amount			Value
Corporate Bonds, continued
Equity Real Estate Investment Trusts, continued
$	60,000	Service Properties Trust, 4.95%, 10/1/29, Callable 7/1/29 @ 100	$	41,100
	125,000	Service Properties Trust, 4.38%, 2/15/30, Callable 8/15/29 @ 100		83,437
	147,000	STORE Capital Corp., 4.63%, 3/15/29, Callable 12/15/28 @ 100		144,246
	112,000	STORE Capital Corp., 2.75%, 11/18/30, Callable 8/18/30 @ 100		92,164
	87,000	Sun Communities Operating LP, 2.30%, 11/1/28, Callable 9/1/28 @ 100		74,317
	232,000	Sun Communities Operating LP, 2.70%, 7/15/31, Callable 4/15/31 @ 100		187,417
	387,000	Tanger Properties LP, 3.13%, 9/1/26, Callable 6/1/26 @ 100		362,917
	237,000	Tanger Properties LP, 2.75%, 9/1/31, Callable 6/1/31 @ 100		186,430
	95,000	The Geo Group, Inc., 6.00%, 4/15/26, Callable 8/8/22 @ 102		77,425
	300,000	Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 7.88%, 2/15/25, Callable 8/8/22 @ 103.94(b)		289,500
	160,000	Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 1/15/30, Callable 1/15/25 @ 103(b)		111,600
	199,000	Ventas Realty LP, 4.00%, 3/1/28, Callable 12/1/27 @ 100		189,652
	569,000	Ventas Realty LP, 3.00%, 1/15/30, Callable 10/15/29 @ 100		500,293
	631,000	Ventas Realty LP, 4.75%, 11/15/30, Callable 8/15/30 @ 100		617,811
	38,000	VICI Properties LP, 4.38%, 5/15/25		37,193
	40,000	VICI Properties LP, 5.13%, 5/15/32, Callable 2/15/32 @ 100		37,600
	103,000	Vornado Realty LP, 2.15%, 6/1/26, Callable 5/1/26 @ 100		92,054
	67,000	Weingarten Realty Investors, 3.38%, 10/15/22, Callable 8/8/22 @ 100		67,024
	814,000	WP Carey, Inc., 4.00%, 2/1/25, Callable 11/1/24 @ 100		807,913
	101,000	WP Carey, Inc., 3.85%, 7/15/29, Callable 4/15/29 @ 100		94,364

				11,797,600

Financial Services (0.1%):
	30,000	Clydesdale Acquisition Holdings, Inc., 6.63%, 4/15/29, Callable 4/15/25 @ 103.31(b)		28,200
	60,000	Cobra AcquisitionCo LLC, 6.38%, 11/1/29, Callable 11/1/24 @ 103.25(b)		45,000
	175,000	Hightower Holding LLC, 6.75%, 4/15/29, Callable 4/15/24 @ 103.38(b)		131,250
	30,000	Jane Street Group/JSG Finance, Inc., 4.50%, 11/15/29, Callable 11/15/24 @ 102.25(b)		26,700

				231,150

Food & Staples Retailing (0.3%):
	35,000	Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 4.63%, 1/15/27, Callable 1/15/23 @ 103.47(b)		31,238


Principal Amount			Value
Corporate Bonds, continued
Food & Staples Retailing, continued
$	80,000	Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 3.50%, 3/15/29, Callable 9/15/23 @ 101.75(b)	$	64,400
	240,000	Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 4.88%, 2/15/30, Callable 2/15/25 @ 103.66(b)		204,600
	165,000	Performance Food Group, Inc., 6.88%, 5/1/25, Callable 8/8/22 @ 103.44(b)		164,175
	125,000	Performance Food Group, Inc., 5.50%, 10/15/27, Callable 10/15/22 @ 102.75(b)		115,312
	30,000	Performance Food Group, Inc., 4.25%, 8/1/29, Callable 8/1/24 @ 102.13(b)		25,050
	140,000	Sysco Corp., 5.95%, 4/1/30, Callable 1/1/30 @ 100		150,050
	210,000	Sysco Corp., 6.60%, 4/1/50, Callable 10/1/49 @ 100		243,383
	65,000	United Natural Foods, Inc., 6.75%, 10/15/28, Callable 10/15/23 @ 103.38(b)		60,531
	90,000	US Foods, Inc., 4.75%, 2/15/29, Callable 2/15/24 @ 102.38(b)		78,413
	25,000	US Foods, Inc., 4.63%, 6/1/30, Callable 6/1/25 @ 102.31(b)		21,250

				1,158,402

Food Products (0.5%):
	170,000	C&S Group Enterprises LLC, 5.00%, 12/15/28, Callable 12/15/23 @ 102.5(b)		125,162
	555,000	JBS Finance Luxembourg Sarl, 2.50%, 1/15/27, Callable 12/15/26 @ 100(b)		483,121
	50,000	JBS Finance Luxembourg Sarl, 3.63%, 1/15/32, Callable 1/15/27 @ 101.81(b)		40,375
	89,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 6.50%, 4/15/29, Callable 4/15/24 @ 103.25(b)		89,556
	300,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 5.50%, 1/15/30, Callable 1/15/25 @ 102.75(b)		283,500
	550,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 3.00%, 5/15/32, Callable 2/15/32 @ 100(b)		422,125
	135,000	Pilgrim’s Pride Corp., 4.25%, 4/15/31, Callable 4/15/26 @ 102.13(b)		112,725
	55,000	Post Holdings, Inc., 5.63%, 1/15/28, Callable 12/1/22 @ 102.81(b)		52,181
	165,000	Post Holdings, Inc., 4.50%, 9/15/31, Callable 9/15/26 @ 102.25(b)		135,300
	95,000	TreeHouse Foods, Inc., 4.00%, 9/1/28, Callable 9/1/23 @ 102		77,188

				1,821,233

Health Care Equipment & Supplies (0.0%^†):
	140,000	Hologic, Inc., 3.25%, 2/15/29, Callable 9/28/23 @ 101.63(b)		119,700

Health Care Providers & Services (1.7%):
	65,000	AHP Health Partners, Inc., 5.75%, 7/15/29, Callable 7/15/24 @ 102.88(b)		48,669
	15,000	Cano Health LLC, 6.25%, 10/1/28, Callable 10/1/24 @ 103.13^(b)		12,150


Principal Amount			Value
Corporate Bonds, continued
Health Care Providers & Services, continued
$	405,000	Centene Corp., 4.25%, 12/15/27, Callable 12/15/22 @ 102.13	$	376,650
	600,000	Centene Corp., 2.45%, 7/15/28, Callable 5/15/28 @ 100		501,000
	985,000	Centene Corp., 4.63%, 12/15/29, Callable 12/15/24 @ 102.31		913,587
	360,000	Centene Corp., 3.38%, 2/15/30, Callable 2/15/25 @ 101.69		303,750
	245,000	Centene Corp., 2.63%, 8/1/31, Callable 5/1/31 @ 100		194,469
	100,000	CHS/Community Health Systems, Inc., 5.63%, 3/15/27, Callable 12/15/23 @ 102.81(b)		84,625
	100,000	CHS/Community Health Systems, Inc., 6.00%, 1/15/29, Callable 1/15/24 @ 103(b)		82,500
	240,000	CHS/Community Health Systems, Inc., 6.13%, 4/1/30, Callable 4/1/25 @ 103.06(b)		146,400
	130,000	CHS/Community Health Systems, Inc., 5.25%, 5/15/30, Callable 5/15/25 @ 102.63(b)		98,800
	70,000	CHS/Community Health Systems, Inc., 4.75%, 2/15/31, Callable 2/15/26 @ 102.38(b)		51,800
	526,000	Cigna Corp., 4.38%, 10/15/28, Callable 7/15/28 @ 100		521,291
	315,000	Community Health Systems, Inc., 8.00%, 3/15/26, Callable 8/8/22 @ 104(b)		285,075
	114,000	CVS Health Corp., 3.63%, 4/1/27, Callable 2/1/27 @ 100		111,302
	260,000	CVS Health Corp., 4.78%, 3/25/38, Callable 9/25/37 @ 100		246,320
	310,000	DaVita, Inc., 4.63%, 6/1/30, Callable 6/1/25 @ 102.31(b)		240,250
	235,000	HCA, Inc., 5.38%, 2/1/25		233,825
	217,000	HCA, Inc., 5.63%, 9/1/28, Callable 3/1/28 @ 100		212,660
	145,000	HCA, Inc., 5.88%, 2/1/29, Callable 8/1/28 @ 100		145,000
	410,000	HCA, Inc., 3.50%, 9/1/30, Callable 3/1/30 @ 100		350,038
	25,000	HealthEquity, Inc., 4.50%, 10/1/29, Callable 10/1/24 @ 102.25(b)		21,812
	128,000	Humana, Inc., 3.70%, 3/23/29, Callable 2/23/29 @ 100		121,356
	60,000	Molina Healthcare, Inc., 3.88%, 11/15/30, Callable 8/17/30 @ 100(b)		51,300
	75,000	Molina Healthcare, Inc., 3.88%, 5/15/32, Callable 2/15/32 @ 100(b)		63,187
	40,000	Owens & Minor, Inc., 4.50%, 3/31/29, Callable 3/31/24 @ 102.25^(b)		32,600
	160,000	Radiology Partners, Inc., 9.25%, 2/1/28, Callable 2/1/23 @ 104.63(b)		119,200
	105,000	Surgery Center Holdings, Inc., 6.75%, 7/1/25, Callable 8/8/22 @ 100(b)		95,944
	215,000	Tenet Healthcare Corp., 6.25%, 2/1/27, Callable 8/8/22 @ 103.13(b)		198,337
	195,000	Tenet Healthcare Corp., 6.13%, 10/1/28, Callable 10/1/23 @ 103.06(b)		166,969
	110,000	Tenet Healthcare Corp., 4.25%, 6/1/29, Callable 6/1/24 @ 102.13(b)		92,950
	65,000	Tenet Healthcare Corp., 4.38%, 1/15/30, Callable 12/1/24 @ 102.19(b)		54,925


Principal Amount			Value
Corporate Bonds, continued
Health Care Providers & Services, continued
$	181,000	Toledo Hospital (The), Series B, 5.33%, 11/15/28	$	172,476

				6,351,217

Hotels, Restaurants & Leisure (0.7%):
	25,000	Affinity Gaming, 6.88%, 12/15/27, Callable 12/1/23 @ 103.44(b)		20,938
	175,000	Boyd Gaming Corp., 4.75%, 12/1/27, Callable 12/1/22 @ 102.38^		158,156
	65,000	Caesars Entertainment, Inc., 4.63%, 10/15/29, Callable 10/15/24 @ 102.31(b)		50,375
	130,000	Carnival Corp., 10.50%, 2/1/26, Callable 8/1/23 @ 105.25(b)		129,350
	220,000	Carnival Corp., 7.63%, 3/1/26, Callable 3/1/24 @ 101.91^(b)		170,500
	100,000	Carnival Corp., 10.50%, 6/1/30, Callable 6/1/25 @ 105.25(b)		82,250
	55,000	Carrols Restaurant Group, Inc., 5.88%, 7/1/29, Callable 7/1/24 @ 102.94(b)		40,081
	100,000	Golden Entertainment, Inc., 7.63%, 4/15/26, Callable 8/8/22 @ 103.81(b)		99,000
	55,000	Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 5.00%, 6/1/29, Callable 6/1/24 @ 102.5(b)		44,481
	30,000	Jacobs Entertainment, Inc., 6.75%, 2/15/29, Callable 2/15/25 @ 103.38(b)		24,600
	70,000	Life Time, Inc., 5.75%, 1/15/26, Callable 1/15/23 @ 102.88(b)		62,825
	55,000	Marriott Ownership Resorts, Inc., 4.50%, 6/15/29, Callable 6/15/24 @ 102.25(b)		45,650
	126,000	McDonald’s Corp., 3.60%, 7/1/30, Callable 4/1/30 @ 100^		119,924
	250,000	MGM Resorts International, 5.75%, 6/15/25, Callable 3/15/25 @ 100		237,500
	285,000	NCL Corp., Ltd., 3.63%, 12/15/24, Callable 7/18/22 @ 101.81(b)		239,400
	75,000	NCL Corp., Ltd., 5.88%, 2/15/27, Callable 2/15/24 @ 102.94(b)		64,113
	25,000	NCL Finance, Ltd., 6.13%, 3/15/28, Callable 12/15/27 @ 100(b)		18,188
	30,000	Peninsula Pacific Entert, 8.50%, 11/15/27, Callable 11/15/23 @ 104.25(b)		31,500
	35,000	Royal Caribbean Cruises, Ltd., 9.13%, 6/15/23, Callable 3/15/23 @ 100(b)		34,650
	117,000	Royal Caribbean Cruises, Ltd., 11.50%, 6/1/25, Callable 7/18/22 @ 108.63(b)		120,218
	140,000	Royal Caribbean Cruises, Ltd., 5.50%, 8/31/26, Callable 2/28/26 @ 100^(b)		103,250
	50,000	Royal Caribbean Cruises, Ltd., 5.38%, 7/15/27, Callable 10/15/26 @ 100(b)		35,875
	200,000	Station Casinos LLC, 4.50%, 2/15/28, Callable 2/15/23 @ 102.25(b)		168,000
	100,000	Viking Cruises, Ltd., 13.00%, 5/15/25, Callable 7/22/22 @ 109.75(b)		102,250
	100,000	Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.50%, 3/1/25, Callable 12/1/24 @ 100(b)		91,500
	150,000	Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.25%, 5/15/27, Callable 2/15/27 @ 100(b)		127,875


Principal Amount			Value
Corporate Bonds, continued
Hotels, Restaurants & Leisure, continued
$	135,000	Yum! Brands, Inc., 4.63%, 1/31/32, Callable 10/1/26 @ 102.31	$	118,800

				2,541,249

Household Durables (0.2%):
	30,000	Ambience Merger Sub, Inc., 4.88%, 7/15/28, Callable 7/15/23 @ 102.44(b)		21,900
	35,000	Ashton Woods USA LLC / Ashton Woods Finance Co., 4.63%, 4/1/30, Callable 4/1/25 @ 102.31(b)		25,462
	65,000	Century Communities, Inc., 3.88%, 8/15/29, Callable 2/15/29 @ 100(b)		50,862
	150,000	LBM Acquisition LLC, 6.25%, 1/15/29, Callable 1/15/24 @ 103.13(b)		95,063
	15,000	Newell Brands, Inc., 5.38%, 4/1/36, Callable 10/1/35 @ 100		12,863
	40,000	Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 4.75%, 4/30/27, Callable 10/15/23 @ 102.38(b)		33,150
	25,000	Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 6.00%, 2/15/28, Callable 2/15/24 @ 103(b)		18,281
	195,000	Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 10.75%, 6/1/28, Callable 6/1/23 @ 105.38(b)		171,600
	60,000	Tempur Sealy International, Inc., 3.88%, 10/15/31, Callable 10/15/26 @ 101.94(b)		45,000
	120,000	TopBuild Corp., 4.13%, 2/15/32, Callable 10/15/26 @ 102.06(b)		93,150

				567,331

Household Products (0.0%^†):
	80,000	Central Garden & Pet Co., 4.13%, 4/30/31, Callable 4/30/26 @ 102.06(b)		64,400

Independent Power and Renewable Electricity Producers (0.3%):
	528,000	AES Corp. (The), 3.30%, 7/15/25, Callable 6/15/25 @ 100(b)		500,075
	461,000	AES Corp. (The), 3.95%, 7/15/30, Callable 4/15/30 @ 100(b)		426,991
	45,000	Clearway Energy Operating LLC, 4.75%, 3/15/28, Callable 3/15/23 @ 103.56(b)		40,500
	50,000	Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 8/15/28, Callable 8/15/23 @ 103.38(b)		43,750
	40,000	Sunnova Energy Corp., 5.88%, 9/1/26, Callable 9/1/23 @ 102.94^(b)		35,000
	40,000	TerraForm Power Operating LLC, 5.00%, 1/31/28, Callable 7/31/27 @ 100(b)		36,200

				1,082,516

Industrial Conglomerates (0.2%):
	205,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., 6.25%, 5/15/26, Callable 8/8/22 @ 103.13		190,650
	510,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., 5.25%, 5/15/27, Callable 11/15/26 @ 100		451,350

				642,000

Industrial Services (0.1%):
	210,000	Minerva Merger Sub, Inc., 6.50%, 2/15/30, Callable 2/15/25 @ 103.25(b)		174,300
	85,000	Railworks Holdings LP/Railworks Rally, Inc., 8.25%, 11/15/28, Callable 11/15/24 @ 104.13(b)		76,500

				250,800


Principal Amount			Value
Corporate Bonds, continued
Insurance (1.2%):
$	175,000	Acrisure LLC / Acrisure Finance, Inc., 4.25%, 2/15/29, Callable 2/15/24 @ 102.13(b)	$	141,750
	900,000	American International Group, Inc., 2.50%, 6/30/25, Callable 5/30/25 @ 100		860,944
	35,000	AmWINS Group, Inc., 4.88%, 6/30/29, Callable 6/30/24 @ 102.44(b)		28,700
	55,000	AssuredPartners, Inc., 5.63%, 1/15/29, Callable 12/15/23 @ 102.81(b)		43,862
	30,000	BroadStreet Partners, Inc., 5.88%, 4/15/29, Callable 4/15/24 @ 102.94(b)		23,400
	98,000	Corebridge Financial, Inc., 3.50%, 4/4/25, Callable 3/4/25 @ 100(b)		95,414
	334,000	Corebridge Financial, Inc., 3.65%, 4/5/27, Callable 3/5/27 @ 100(b)		314,184
	137,000	Corebridge Financial, Inc., 3.85%, 4/5/29, Callable 2/5/29 @ 100(b)		126,893
	163,000	Corebridge Financial, Inc., 3.90%, 4/5/32, Callable 1/5/32 @ 100(b)		147,286
	37,000	Corebridge Financial, Inc., 4.35%, 4/5/42, Callable 10/5/41 @ 100(b)		31,559
	110,000	Corebridge Financial, Inc., 4.40%, 4/5/52, Callable 10/5/51 @ 100(b)		92,677
	686,000	Five Corners Funding Trust II, 2.85%, 5/15/30, Callable 2/15/30 @ 100(b)		595,105
	55,000	HUB International, Ltd., 7.00%, 5/1/26, Callable 7/18/22 @ 101.75(b)		51,562
	50,000	HUB International, Ltd., 5.63%, 12/1/29, Callable 12/1/24 @ 102.81(b)		41,500
	40,000	Liberty Mutual Group, Inc., 4.25%, 6/15/23(b)		40,118
	140,000	Liberty Mutual Group, Inc., 4.57%, 2/1/29(b)		137,893
	651,000	Pacific Lifecorp, 5.13%, 1/30/43(b)		635,284
	85,000	Ryan Specialty Group LLC, 4.38%, 2/1/30, Callable 2/1/25 @ 102.19(b)		73,844
	463,000	Unum Group, 3.88%, 11/5/25		456,443
	349,000	Unum Group, 4.00%, 6/15/29, Callable 3/15/29 @ 100		331,863
	260,000	USI, Inc., 6.88%, 5/1/25, Callable 8/8/22 @ 100(b)		249,925

				4,520,206

Interactive Media & Services (0.1%):
	85,000	Match Group Holdings II LLC, 3.63%, 10/1/31, Callable 10/1/26 @ 101.81(b)		66,938
	40,000	Match Group, Inc., 4.13%, 8/1/30, Callable 5/1/25 @ 102.06(b)		33,500
	205,000	Rackspace Technology Global, Inc., 3.50%, 2/15/28, Callable 2/15/24 @ 101.75(b)		160,925

				261,363

IT Services (0.2%):
	40,000	Arches Buyer, Inc., 4.25%, 6/1/28, Callable 12/1/23 @ 102.13(b)		32,300
	15,000	Arches Buyer, Inc., 6.13%, 12/1/28, Callable 12/1/23 @ 103.06(b)		12,075
	175,000	Black Knight InfoServ LLC, 3.63%, 9/1/28, Callable 9/1/23 @ 101.81(b)		151,375
	20,000	Booz Allen Hamilton, Inc., 4.00%, 7/1/29, Callable 7/1/24 @ 102(b)		17,550


Principal Amount			Value
Corporate Bonds, continued
IT Services, continued
$	215,000	Colt Merger Sub, Inc., 8.13%, 7/1/27, Callable 7/1/23 @ 104.06(b)	$	206,938
	100,000	Gartner, Inc., 4.50%, 7/1/28, Callable 7/1/23 @ 102.25(b)		90,750
	65,000	Gartner, Inc., 3.75%, 10/1/30, Callable 10/1/25 @ 101.88(b)		55,331
	55,000	Square, Inc., 2.75%, 6/1/26, Callable 5/1/26 @ 100(b)		48,675
	55,000	Square, Inc., 3.50%, 6/1/31, Callable 3/1/31 @ 100^(b)		44,000
	50,000	Twilio, Inc., 3.63%, 3/15/29, Callable 3/15/24 @ 101.81		42,063
	50,000	Twilio, Inc., 3.88%, 3/15/31, Callable 3/15/26 @ 101.94^		41,062

				742,119

Leisure Products (0.1%):
	311,000	Hasbro, Inc., 3.00%, 11/19/24, Callable 10/19/24 @ 100		304,393
	5,000	Mattel, Inc., 5.88%, 12/15/27, Callable 12/15/22 @ 104.41(b)		4,862

				309,255

Life Sciences Tools & Services (0.1%):
	195,000	Avantor Funding, Inc., 4.63%, 7/15/28, Callable 7/15/23 @ 102.31(b)		178,425
	20,000	Charles River Laboratories International, Inc., 4.25%, 5/1/28, Callable 5/1/23 @ 102.13(b)		17,975
	45,000	Charles River Laboratories International, Inc., 3.75%, 3/15/29, Callable 3/15/24 @ 101.88(b)		38,981

				235,381

Machinery (0.1%):
	80,000	GrafTech Finance, Inc., 4.63%, 12/15/28, Callable 12/15/23 @ 102.31(b)		64,800
	75,000	ITT Holdings LLC, 6.50%, 8/1/29, Callable 8/1/24 @ 103.25(b)		60,000
	40,000	Madison IAQ LLC, 4.13%, 6/30/28, Callable 6/30/24 @ 102.06(b)		33,100
	335,000	Madison IAQ LLC, 5.88%, 6/30/29, Callable 6/30/24 @ 102.94(b)		253,763
	60,000	Mueller Water Products, Inc., 4.00%, 6/15/29, Callable 6/15/24 @ 102(b)		52,200

				463,863

Media (1.8%):
	20,000	ABG Intermediate Holdings 2 LLC, 5.00%, 12/21/28, Callable 8/5/22 @ 100		18,650
	275,000	Advantage Sales & Marketing, Inc., 6.50%, 11/15/28, Callable 11/15/23 @ 103.25(b)		234,781
	100,000	Allen Media LLC / Allen Media Co-Issuer, Inc., 10.50%, 2/15/28, Callable 2/15/23 @ 113(b)		52,250
	35,000	Austin BidCo, Inc., 7.13%, 12/15/28, Callable 12/15/23 @ 103.56(b)		28,000
	30,000	Cablevision Lightpath LLC, 3.88%, 9/15/27, Callable 9/15/23 @ 101.94(b)		24,600
	25,000	Cablevision Lightpath LLC, 5.63%, 9/15/28, Callable 9/15/23 @ 102.81(b)		19,375


Principal Amount			Value
Corporate Bonds, continued
Media, continued
$	105,000	CCO Holdings LLC / CCO Holdings Capital Corp., 5.00%, 2/1/28, Callable 8/1/22 @ 102.5(b)	$	96,600
	395,000	CCO Holdings LLC / CCO Holdings Capital Corp., 4.75%, 3/1/30, Callable 9/1/24 @ 102.38(b)		336,738
	95,000	CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 8/15/30, Callable 2/15/25 @ 102.25(b)		79,088
	155,000	CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 5/1/32, Callable 5/1/26 @ 102.25		124,775
	105,000	CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 6/1/33, Callable 6/1/27 @ 102.25(b)		82,687
	332,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 4.40%, 4/1/33, Callable 1/1/33 @ 100		296,720
	332,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 5.25%, 4/1/53, Callable 10/1/52 @ 100		283,565
	332,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 5.50%, 4/1/63, Callable 10/1/62 @ 100		283,603
	440,000	CSC Holdings LLC, 5.75%, 1/15/30, Callable 1/15/25 @ 102.88(b)		320,100
	130,000	CSC Holdings LLC, 4.13%, 12/1/30, Callable 12/1/25 @ 102.06(b)		99,450
	280,000	Diamond Sports Group LLC / Diamond Sports Finance Co., 5.38%, 8/15/26, Callable 8/15/22 @ 102.69(b)		68,600
	215,000	Discovery Communications LLC, 3.63%, 5/15/30, Callable 2/15/30 @ 100		191,116
	580,000	Discovery Communications LLC, 4.65%, 5/15/50, Callable 11/15/49 @ 100		461,561
	230,000	DISH DBS Corp., 7.75%, 7/1/26		179,975
	103,000	Fox Corp., 4.03%, 1/25/24, Callable 12/25/23 @ 100		103,061
	149,000	Fox Corp., 4.71%, 1/25/29, Callable 10/25/28 @ 100		146,441
	147,000	Fox Corp., 5.48%, 1/25/39, Callable 7/25/38 @ 100		143,409
	65,000	Gray Television, Inc., 4.75%, 10/15/30, Callable 10/15/25 @ 102.38(b)		51,025
	165,000	Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 9/15/26, Callable 9/15/23 @ 102.25(b)		141,075
	200,000	Radiate Holdco LLC/Radiate Finance, Inc., 6.50%, 9/15/28, Callable 9/15/23 @ 103.25(b)		154,000
	45,000	Sirius XM Radio, Inc., 3.13%, 9/1/26, Callable 9/1/23 @ 101.56(b)		39,712
	105,000	Sirius XM Radio, Inc., 5.00%, 8/1/27, Callable 8/8/22 @ 102.5(b)		97,125
	45,000	Sirius XM Radio, Inc., 5.50%, 7/1/29, Callable 7/1/24 @ 102.75(b)		41,175
	40,000	Sirius XM Radio, Inc., 4.13%, 7/1/30, Callable 7/1/25 @ 102.06(b)		33,500
	85,000	Sirius XM Radio, Inc., 3.88%, 9/1/31, Callable 9/1/26 @ 101.94(b)		68,000
	140,000	TEGNA, Inc., 4.75%, 3/15/26, Callable 3/15/23 @ 102.38(b)		134,400
	80,000	Terrier Media Buyer, Inc., 8.88%, 12/15/27, Callable 12/15/22 @ 104.44(b)		64,000
	103,000	Time Warner Cable LLC, 5.50%, 9/1/41, Callable 3/1/41 @ 100		90,223
	359,000	Time Warner Cable, Inc., 6.55%, 5/1/37		361,043


Principal Amount			Value
Corporate Bonds, continued
Media, continued
$	418,000	Time Warner Cable, Inc., 7.30%, 7/1/38	$	437,859
	1,100,000	Time Warner Cable, Inc., 6.75%, 6/15/39		1,100,445
	55,000	Univision Communications, Inc., 6.63%, 6/1/27, Callable 6/1/23 @ 103.31(b)		51,975
	65,000	Univision Communications, Inc., 4.50%, 5/1/29, Callable 5/1/24 @ 102.25(b)		54,437

				6,595,139

Metals & Mining (0.2%):
	70,000	Alcoa Nederland Holding BV, 4.13%, 3/31/29, Callable 3/31/24 @ 102.06(b)		62,650
	265,000	Allegheny Technologies, Inc., 5.88%, 12/1/27, Callable 12/1/22 @ 102.94		236,844
	30,000	Allegheny Technologies, Inc., 4.88%, 10/1/29, Callable 10/1/24 @ 102.44		23,953
	20,000	Allegheny Technologies, Inc., 5.13%, 10/1/31, Callable 10/1/26 @ 102.56		15,850
	70,000	Cleveland-Cliffs, Inc., 4.63%, 3/1/29, Callable 3/1/24 @ 102.31(b)		62,038
	70,000	Cleveland-Cliffs, Inc., 4.88%, 3/1/31, Callable 3/1/26 @ 102.44(b)		61,600
	25,000	Commercial Metals Co., 4.13%, 1/15/30, Callable 1/15/25 @ 102.06		21,375
	25,000	Commercial Metals Co., 4.38%, 3/15/32, Callable 3/15/27 @ 102.19		21,125
	185,000	Kaiser Aluminun Corp., 4.63%, 3/1/28, Callable 3/1/23 @ 102.31(b)		153,550
	55,000	Novelis Corp., 3.88%, 8/15/31, Callable 8/15/26 @ 101.94(b)		42,212

				701,197

Mortgage Real Estate Investment Trusts (0.0%^†):
	55,000	Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp, 4.75%, 6/15/29, Callable 6/15/24 @ 102.38(b)		42,350
	65,000	Starwood Property Trust, Inc., 4.75%, 3/15/25, Callable 9/15/24 @ 100		59,394

				101,744

Multi-Utilities (0.2%):
	207,000	Puget Energy, Inc., 4.10%, 6/15/30, Callable 3/15/30 @ 100		192,278
	292,000	Puget Energy, Inc., 4.22%, 3/15/32, Callable 12/15/31 @ 100		269,935
	110,000	Sempra Energy, 6.00%, 10/15/39		116,085

				578,298

Oil & Gas (0.0%^†):
	45,000	Holly Energy Partners LP / Holly Energy Finance Corp., 6.38%, 4/15/27, Callable 4/15/24 @ 103.19(b)		42,300
	50,000	Kinetik Holdings LP, 5.88%, 6/15/30, Callable 6/15/25 @ 102.94(b)		47,472

				89,772

Oil, Gas & Consumable Fuels (4.4%):
	55,000	Apache Corp., 5.10%, 9/1/40, Callable 3/1/40 @ 100		46,406
	25,000	Apache Corp., 7.38%, 8/15/47		24,646
	70,000	Cheniere Energy Partners LP, 4.00%, 3/1/31, Callable 3/1/26 @ 102		59,587


Principal Amount			Value
Corporate Bonds, continued
Oil, Gas & Consumable Fuels, continued
$	55,000	Cheniere Energy Partners LP, 3.25%, 1/31/32, Callable 1/31/27 @ 101.63(b)	$	43,175
	361,000	Chevron Phillips Chemical Co. LLC/Chevron Phillips Chemical Co. LP, 5.13%, 4/1/25, Callable 3/1/25 @ 100(b)		372,777
	145,000	CITGO Petroleum Corp., 6.38%, 6/15/26, Callable 6/15/23 @ 103.19(b)		133,762
	25,000	Cnx Midstream Partners LP, 4.75%, 4/15/30, Callable 4/15/25 @ 102.38(b)		20,562
	30,000	CNX Resources Corp., 6.00%, 1/15/29, Callable 1/15/24 @ 104.5(b)		27,900
	30,000	Colgate Energy Partners III LLC, 5.88%, 7/1/29, Callable 7/1/24 @ 102.94(b)		26,287
	80,000	Comstock Resources, Inc., 6.75%, 3/1/29, Callable 3/1/24 @ 103.38(b)		71,600
	40,000	Comstock Resources, Inc., 5.88%, 1/15/30, Callable 1/15/25 @ 102.94(b)		34,400
	195,000	Continental Resources, Inc., 5.75%, 1/15/31, Callable 7/15/30 @ 100(b)		188,175
	167,000	Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 5.75%, 4/1/25, Callable 8/8/22 @ 101.44^		156,145
	305,000	Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 6.00%, 2/1/29, Callable 2/1/24 @ 103(b)		266,112
	230,000	CVR Energy, Inc., 5.25%, 2/15/25, Callable 7/22/22 @ 102.63(b)		210,450
	25,000	CVR Energy, Inc., 5.75%, 2/15/28, Callable 2/15/23 @ 102.88(b)		22,375
	163,000	DCP Midstream Operating LP, 3.88%, 3/15/23, Callable 12/15/22 @ 100		161,166
	105,000	DCP Midstream Operating LP, 5.38%, 7/15/25, Callable 4/15/25 @ 100		102,113
	160,000	DCP Midstream Operating LP, 5.63%, 7/15/27, Callable 4/15/27 @ 100		153,000
	750,000	DCP Midstream Operating LP, 5.85% (US0003M+385 bps), 5/21/43, Callable 5/21/23 @ 100(b)		624,375
	185,000	DCP Midstream Operating LP, 5.60%, 4/1/44, Callable 10/1/43 @ 100		148,000
	35,000	Delek Logistics Partners LP / Delek Logistics Finance Corp., 7.13%, 6/1/28, Callable 6/1/24 @ 103.56(b)		31,675
	43,000	Devon Energy Corp., 5.25%, 10/15/27, Callable 10/15/22 @ 102.63		43,107
	55,000	DT Midstream, Inc., 4.13%, 6/15/29, Callable 6/15/24 @ 102.06(b)		46,475
	124,000	Enable Midstream Partners LP, 3.90%, 5/15/24, Callable 2/15/24 @ 100		122,752
	30,000	Endeavor Energy Resources LP/EER Finance, Inc., 6.63%, 7/15/25, Callable 7/15/22 @ 103.31(b)		30,075
	110,000	Endeavor Energy Resources LP/EER Finance, Inc., 5.75%, 1/30/28, Callable 1/30/23 @ 102.88(b)		103,950
	350,000	Energy Transfer LP, 4.95%, 6/15/28, Callable 3/15/28 @ 100		345,188
	167,000	Energy Transfer LP, 5.25%, 4/15/29, Callable 1/15/29 @ 100		165,747
	427,000	Energy Transfer LP, 5.00%, 5/15/50, Callable 11/15/49 @ 100		364,018


Principal Amount			Value
Corporate Bonds, continued
Oil, Gas & Consumable Fuels, continued
$	81,000	Energy Transfer Operating LP, 4.25%, 3/15/23, Callable 12/15/22 @ 100	$	80,494
	103,000	Energy Transfer Operating LP, 4.50%, 4/15/24, Callable 3/15/24 @ 100		102,871
	161,000	Energy Transfer Operating LP, 3.75%, 5/15/30, Callable 2/15/30 @ 100		145,303
	115,000	Energy Transfer Operating LP, 6.25%, 4/15/49, Callable 10/15/48 @ 100		111,550
	103,000	Energy Transfer Partners LP, 4.20%, 9/15/23, Callable 8/15/23 @ 100		103,129
	195,000	Energy Transfer Partners LP, 5.80%, 6/15/38, Callable 12/15/37 @ 100		183,056
	127,000	Energy Transfer Partners LP, 6.00%, 6/15/48, Callable 12/15/47 @ 100		119,698
	135,000	EnLink Midstream LLC, 5.63%, 1/15/28, Callable 7/15/27 @ 100(b)		123,187
	105,000	EQM Midstream Partners LP, 7.50%, 6/1/27, Callable 6/1/24 @ 103.75(b)		100,800
	80,000	EQM Midstream Partners LP, 6.50%, 7/1/27, Callable 1/1/27 @ 100(b)		74,400
	70,000	EQM Midstream Partners LP, 4.50%, 1/15/29, Callable 7/15/28 @ 100(b)		56,700
	115,000	EQT Corp., 3.90%, 10/1/27, Callable 7/1/27 @ 100		107,238
	45,000	EQT Corp., 5.00%, 1/15/29, Callable 7/15/28 @ 100		43,537
	311,000	Hess Corp., 4.30%, 4/1/27, Callable 1/1/27 @ 100		302,059
	109,000	Hess Corp., 7.30%, 8/15/31		121,399
	78,000	Hess Corp., 7.13%, 3/15/33		85,995
	847,000	Hess Corp., 5.60%, 2/15/41		826,884
	302,000	Hess Corp., 5.80%, 4/1/47, Callable 10/1/46 @ 100		301,622
	190,000	Hess Midstream Operations LP, 5.63%, 2/15/26, Callable 8/8/22 @ 102.81(b)		180,975
	35,000	Hess Midstream Operations LP, 4.25%, 2/15/30, Callable 2/15/25 @ 102.13(b)		29,575
	150,000	Kinder Morgan Energy Partners LP, 3.45%, 2/15/23, Callable 11/15/22 @ 100		150,143
	63,000	Kinder Morgan Energy Partners LP, 6.55%, 9/15/40		65,595
	55,000	Leeward Renewable Energy Operations LLC, 4.25%, 7/1/29, Callable 7/1/24 @ 102.13(b)		43,725
	172,000	MPLX LP, 4.50%, 7/15/23, Callable 4/15/23 @ 100		172,430
	242,000	MPLX LP, 4.88%, 12/1/24, Callable 9/1/24 @ 100		243,513
	70,000	MPLX LP, 5.50%, 2/15/49, Callable 8/15/48 @ 100		65,625
	150,000	Murphy Oil Corp., 5.88%, 12/1/27, Callable 12/1/22 @ 102.94		140,062
	135,000	NGL Energy Operating LLC / NGL Energy Finance Corp., 7.50%, 2/1/26, Callable 2/1/23 @ 103.75(b)		121,500
	609,000	Occidental Petroleum Corp., 5.55%, 3/15/26, Callable 12/15/25 @ 100		602,910
	120,000	Occidental Petroleum Corp., 3.50%, 8/15/29, Callable 5/15/29 @ 100		106,800
	85,000	Occidental Petroleum Corp., 8.88%, 7/15/30, Callable 1/15/30 @ 100		97,325
	1,047,000	Occidental Petroleum Corp., 7.50%, 5/1/31		1,128,143
	25,000	Occidental Petroleum Corp., 7.88%, 9/15/31		27,438
	422,000	Occidental Petroleum Corp., 6.45%, 9/15/36		433,078
	40,000	Occidental Petroleum Corp., 4.30%, 8/15/39, Callable 2/15/39 @ 100		32,600


Principal Amount			Value
Corporate Bonds, continued
Oil, Gas & Consumable Fuels, continued
$	40,000	Occidental Petroleum Corp., 6.20%, 3/15/40	$	39,500
	712,000	Occidental Petroleum Corp., 6.60%, 3/15/46, Callable 9/15/45 @ 100		756,500
	120,000	Occidental Petroleum Corp., 4.40%, 4/15/46, Callable 10/15/45 @ 100		97,200
	165,000	Occidental Petroleum Corp., 4.10%, 2/15/47, Callable 8/15/46 @ 100		127,875
	80,000	Occidental Petroleum Corp., 4.20%, 3/15/48, Callable 9/15/47 @ 100		64,800
	95,000	Occidental Petroleum Corp., 4.40%, 8/15/49, Callable 2/15/49 @ 100		76,000
	235,000	PBF Holding Co. LLC / PBF Finance Corp., 9.25%, 5/15/25, Callable 7/11/22 @ 104.63(b)		246,162
	120,000	PBF Holding Co. LLC / PBF Finance Corp., 6.00%, 2/15/28, Callable 2/15/23 @ 103		100,800
	35,000	PDC Energy, Inc., 5.75%, 5/15/26, Callable 8/8/22 @ 102.88		32,550
	30,000	Phillips 66, 3.70%, 4/6/23		29,930
	39,000	Phillips 66, 3.85%, 4/9/25, Callable 3/9/25 @ 100		38,814
	110,000	Plains All Amer Pipeline, 3.60%, 11/1/24, Callable 8/1/24 @ 100		107,871
	110,000	Range Resources Corp., 4.88%, 5/15/25, Callable 2/15/25 @ 100		106,700
	493,000	Sabine Pass Liquefaction LLC, 4.50%, 5/15/30, Callable 11/15/29 @ 100		472,664
	408,000	Sanchez Energy Corp., 7.25%, 2/15/23, Callable 7/14/22 @ 100(a)(d)(e)		—
	20,000	SM Energy Co., 5.63%, 6/1/25, Callable 8/8/22 @ 100.94		18,900
	75,000	SM Energy Co., 6.75%, 9/15/26, Callable 8/8/22 @ 103.38		71,250
	346,000	Southeast Supply Header LLC, 4.25%, 6/15/24, Callable 3/15/24 @ 100^(b)		302,221
	55,000	Southwestern Energy Co., 4.75%, 2/1/32, Callable 2/1/27 @ 102.38		46,613
	5,000	Sunoco LP/Sunoco Finance Corp., 6.00%, 4/15/27, Callable 8/8/22 @ 103		4,750
	95,000	Sunoco LP/Sunoco Finance Corp., 5.88%, 3/15/28, Callable 3/15/23 @ 102.94		87,162
	165,000	Sunoco LP/Sunoco Finance Corp., 4.50%, 5/15/29, Callable 5/15/24 @ 102.25		136,950
	135,000	Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.00%, 12/31/30, Callable 12/31/25 @ 103(b)		112,050
	30,000	Targa Resources Partners LP / Targa Resources Partners Finance Corp., 5.50%, 3/1/30, Callable 3/1/25 @ 102.75		28,313
	185,000	Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.88%, 2/1/31, Callable 2/1/26 @ 102.44		168,350
	70,000	Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.00%, 1/15/32, Callable 7/15/26 @ 102		59,675
	62,000	Western Gas Partners LP, 3.95%, 6/1/25, Callable 3/1/25 @ 100		58,900
	205,000	Western Gas Partners LP, 4.65%, 7/1/26, Callable 4/1/26 @ 100		193,725


Principal Amount			Value
Corporate Bonds, continued
Oil, Gas & Consumable Fuels, continued
$	900,000	Western Gas Partners LP, 4.50%, 3/1/28, Callable 12/1/27 @ 100	$	819,000
	101,000	Western Gas Partners LP, 4.75%, 8/15/28, Callable 5/15/28 @ 100		92,415
	205,000	Western Midstream Operating LP, 5.30%, 2/1/30, Callable 11/1/29 @ 100		179,375
	242,000	Williams Partners LP, 4.50%, 11/15/23, Callable 8/15/23 @ 100		243,810
	426,000	Williams Partners LP, 4.30%, 3/4/24, Callable 12/4/23 @ 100		428,166

				16,126,350

Paper & Forest Products (0.0%^†):
	45,000	Glatfelter Corp., 4.75%, 11/15/29, Callable 11/1/24 @ 102.38(b)		31,275
	70,000	Mercer International, Inc., 5.13%, 2/1/29, Callable 2/1/24 @ 102.56		59,850

				91,125

Personal Products (0.0%^†):
	55,000	BellRing Brands, Inc., 7.00%, 3/15/30, Callable 3/15/27 @ 101.75(b)		51,700

Pharmaceuticals (0.4%):
	150,000	Bausch Health Cos, Inc., 5.25%, 1/30/30, Callable 1/30/25 @ 102.63(b)		78,000
	170,000	Catalent Pharma Solutions, Inc., 3.13%, 2/15/29, Callable 2/15/24 @ 101.56(b)		139,612
	50,000	Catalent Pharma Solutions, Inc., 3.50%, 4/1/30, Callable 4/1/25 @ 101.75(b)		41,000
	275,000	Elanco Animal Health, Inc., 5.27%, 8/28/23, Callable 7/28/23 @ 100		279,379
	116,000	Elanco Animal Health, Inc., 5.90%, 8/28/28, Callable 5/28/28 @ 100		110,490
	45,000	Jazz Securities DAC, 4.38%, 1/15/29, Callable 7/15/24 @ 102.19(b)		40,050
	40,000	Organon & Co. / Organon Foreign Debt Co-Issuer BV, 4.13%, 4/30/28, Callable 4/30/24 @ 102.06(b)		35,100
	215,000	Organon & Co. / Organon Foreign Debt Co-Issuer BV, 5.13%, 4/30/31, Callable 4/30/26 @ 102.56(b)		188,125
	60,000	Viatris, Inc., 1.65%, 6/22/25, Callable 5/22/25 @ 100		54,621
	305,000	Viatris, Inc., 2.70%, 6/22/30, Callable 3/22/30 @ 100		247,904
	133,000	Viatris, Inc., 3.85%, 6/22/40, Callable 12/22/39 @ 100		96,278

				1,310,559

Professional Services (0.0%^†):
	60,000	Asgn, Inc., 4.63%, 5/15/28, Callable 5/15/23 @ 102.31(b)		51,600
	125,000	Nielsen Finance LLC/Nielsen Finance Co., 5.88%, 10/1/30, Callable 10/1/25 @ 102.94(b)		115,469

				167,069

Real Estate (0.3%):
	225,000	Invitation Homes Operating Partnership LP, 4.15%, 4/15/32, Callable 1/15/32 @ 100		204,279
	115,000	Realogy Group LLC / Realogy Co-Issuer Corp., 5.25%, 4/15/30, Callable 4/15/25 @ 102.63(b)		84,813
	297,000	VICI Properties LP, 4.75%, 2/15/28, Callable 1/15/28 @ 100		282,892


Principal Amount			Value
Corporate Bonds, continued
Real Estate, continued
$	441,000	VICI Properties LP, 4.95%, 2/15/30, Callable 12/15/29 @ 100	$	413,989
	40,000	VICI Properties LP / VICI Note Co., Inc., 4.63%, 6/15/25, Callable 3/15/25 @ 100(b)		38,050

				1,024,023

Real Estate Management & Development (0.2%):
	301,000	CBRE Services, Inc., 2.50%, 4/1/31, Callable 1/1/31 @ 100		246,281
	85,000	Kennedy-Wilson, Inc., 4.75%, 2/1/30, Callable 9/1/24 @ 102.38		67,044
	70,000	Realogy Group LLC / Realogy Co-Issuer Corp., 5.75%, 1/15/29, Callable 1/15/24 @ 102.88(b)		53,462
	275,000	TK Elevator US Newco, Inc., 5.25%, 7/15/27, Callable 7/15/23 @ 102.63(b)		243,375

				610,162

Retail & Whsle — Discretionary (0.0%^†):
	15,000	MIWD Holdco II LLC / MIWD Finance Corp., 5.50%, 2/1/30, Callable 2/1/25 @ 102.75(b)		12,075

Road & Rail (0.0%^†):
	60,000	Uber Technologies, Inc., 4.50%, 8/15/29, Callable 8/15/24 @ 102.25(b)		49,050

Semiconductors & Semiconductor Equipment (0.6%):
	92,000	Broadcom, Inc., 1.95%, 2/15/28, Callable 12/15/27 @ 100(b)		78,359
	899,000	Broadcom, Inc., 2.45%, 2/15/31, Callable 11/15/30 @ 100(b)		723,782
	797,000	Broadcom, Inc., 2.60%, 2/15/33, Callable 11/15/32 @ 100(b)		613,649
	633,000	Broadcom, Inc., 3.50%, 2/15/41, Callable 8/15/40 @ 100(b)		482,474
	297,000	Broadcom, Inc., 3.75%, 2/15/51, Callable 8/15/50 @ 100(b)		221,580
	135,000	Entegris, Inc., 3.63%, 5/1/29, Callable 5/1/24 @ 102.72(b)		112,387
	75,000	ON Semiconductor Corp., 3.88%, 9/1/28, Callable 9/1/23 @ 101.94(b)		66,187

				2,298,418

Software (0.5%):
	55,000	Acuris Finance US, Inc. / Acuris Finance SARL, 5.00%, 5/1/28, Callable 5/1/24 @ 102.5(b)		44,825
	60,000	Boxer Parent Co., Inc., 7.13%, 10/2/25, Callable 8/8/22 @ 103.56(b)		57,000
	35,000	CDK Global, Inc., 5.25%, 5/15/29, Callable 5/15/24 @ 102.63(b)		34,825
	40,000	Clarivate Science Holdings Corp., 3.88%, 7/1/28, Callable 6/30/24 @ 101.94(b)		33,450
	40,000	Clarivate Science Holdings Corp., 4.88%, 7/1/29, Callable 6/30/24 @ 102.44(b)		32,500
	30,000	Elastic NV, 4.13%, 7/15/29, Callable 7/15/24 @ 102.06(b)		24,975
	70,000	Fair Isaac Corp., 4.00%, 6/15/28, Callable 12/15/22 @ 102(b)		61,950
	125,000	MicroStrategy, Inc., 6.13%, 6/15/28, Callable 6/15/24 @ 103.06^(b)		100,000
	351,000	Oracle Corp., 1.65%, 3/25/26, Callable 2/25/26 @ 100		314,770


Principal Amount			Value
Corporate Bonds, continued
Software, continued
$	555,000	Oracle Corp., 2.30%, 3/25/28, Callable 1/25/28 @ 100	$	478,975
	690,000	Oracle Corp., 2.88%, 3/25/31, Callable 12/25/30 @ 100		569,415

				1,752,685

Specialty Retail (0.6%):
	35,000	Asbury Automotive Group, Inc., 4.63%, 11/15/29, Callable 11/15/24 @ 102.31(b)		28,700
	40,000	Asbury Automotive Group, Inc., 5.00%, 2/15/32, Callable 11/15/26 @ 102.5(b)		32,700
	47,000	AutoNation, Inc., 4.75%, 6/1/30, Callable 3/1/30 @ 100		44,374
	72,000	AutoZone, Inc., 3.63%, 4/15/25, Callable 3/15/25 @ 100		71,239
	333,000	AutoZone, Inc., 4.00%, 4/15/30, Callable 1/15/30 @ 100		317,038
	55,000	Carvana Co., 5.88%, 10/1/28, Callable 10/1/23 @ 104.41(b)		34,788
	55,000	Carvana Co., 10.25%, 5/1/30, Callable 5/1/27 @ 105.13(b)		44,550
	30,000	Foot Locker, Inc., 4.00%, 10/1/29, Callable 10/1/24 @ 102(b)		22,650
	55,000	Gap, Inc. (The), 3.88%, 10/1/31, Callable 10/1/26 @ 101.94(b)		38,363
	220,000	L Brands, Inc., 6.63%, 10/1/30, Callable 10/1/25 @ 103.31(b)		187,000
	33,000	Lowe’s Cos., Inc., 3.35%, 4/1/27, Callable 3/1/27 @ 100		31,726
	240,000	Lowe’s Cos., Inc., 4.50%, 4/15/30, Callable 1/15/30 @ 100		237,685
	101,000	Lowe’s Cos., Inc., 3.75%, 4/1/32, Callable 1/1/32 @ 100^		93,873
	410,000	Lowe’s Cos., Inc., 4.25%, 4/1/52, Callable 10/1/51 @ 100		356,884
	464,000	Lowe’s Cos., Inc., 4.45%, 4/1/62, Callable 10/1/61 @ 100		397,961
	74,000	O’Reilly Automotive, Inc., 4.20%, 4/1/30, Callable 1/1/30 @ 100		71,506
	30,000	Party City Holdings, Inc., 8.75%, 2/15/26, Callable 8/15/23 @ 104.38(b)		20,175
	20,000	Rent-A-Center, Inc., 6.38%, 2/15/29, Callable 2/15/24 @ 103.19^(b)		15,550
	40,000	Victoria’s Secret & Co., 4.63%, 7/15/29, Callable 7/15/24 @ 102.31(b)		30,100

				2,076,862

Technology Hardware, Storage & Peripherals (0.2%):
	106,000	Dell International LLC/EMC Corp., 5.45%, 6/15/23, Callable 4/15/23 @ 100		107,177
	81,000	Dell International LLC/EMC Corp., 5.85%, 7/15/25, Callable 6/15/25 @ 100		83,620
	129,000	Dell International LLC/EMC Corp., 6.02%, 6/15/26, Callable 3/15/26 @ 100		133,648
	148,000	Dell International LLC/EMC Corp., 6.10%, 7/15/27, Callable 5/15/27 @ 100		155,210


Principal Amount			Value
Corporate Bonds, continued
Technology Hardware, Storage & Peripherals, continued
$	128,000	Dell International LLC/EMC Corp., 6.20%, 7/15/30, Callable 4/15/30 @ 100	$	133,654

				613,309

Telecommunications (0.0%^†):
	130,000	Cogent Communications Group, Inc., 7.00%, 6/15/27, Callable 6/15/24 @ 103.5(b)		124,150
	60,000	Frontier Communications Holdings LLC, 8.75%, 5/15/30, Callable 5/15/25 @ 104.38(b)		60,450

				184,600

Textiles, Apparel & Luxury Goods (0.0%^†):
	60,000	Crocs, Inc., 4.13%, 8/15/31, Callable 8/15/26 @ 102.06(b)		42,000
	20,000	Kontoor Brands, Inc., 4.13%, 11/15/29, Callable 11/15/24 @ 102.06(b)		15,800
	70,000	Levi Strauss & Co., 3.50%, 3/1/31, Callable 3/1/26 @ 101.75(b)		56,875
	105,000	Wolverine World Wide, Inc., 4.00%, 8/15/29, Callable 8/15/24 @ 102(b)		84,263

				198,938

Tobacco (0.5%):
	452,000	Altria Group, Inc., 4.25%, 8/9/42		334,719
	302,000	Altria Group, Inc., 4.50%, 5/2/43		229,130
	262,000	Altria Group, Inc., 5.38%, 1/31/44		228,739
	108,000	Altria Group, Inc., 5.95%, 2/14/49, Callable 8/14/48 @ 100		95,831
	179,000	Reynolds American, Inc., 5.70%, 8/15/35, Callable 2/15/35 @ 100		168,190
	600,000	Reynolds American, Inc., 7.25%, 6/15/37		630,628
	70,000	Turning Point Brands, Inc., 5.63%, 2/15/26, Callable 2/15/23 @ 102.81(b)		62,475

				1,749,712

Trading Companies & Distributors (0.3%):
	467,000	Air Lease Corp., 4.25%, 2/1/24, Callable 1/1/24 @ 100		463,044
	393,000	Air Lease Corp., 3.38%, 7/1/25, Callable 6/1/25 @ 100		369,816
	40,000	Foundation Building Materials, Inc., 6.00%, 3/1/29, Callable 3/1/24 @ 103(b)		29,200
	45,000	SRS Distribution, Inc., 4.63%, 7/1/28, Callable 7/1/24 @ 102.31(b)		39,375
	25,000	SRS Distribution, Inc., 6.13%, 7/1/29, Callable 7/1/24 @ 103.06(b)		19,625
$	40,000	SRS Distribution, Inc., 6.00%, 12/1/29, Callable 12/1/24 @ 103(b)		31,400

				952,460

Wireless Telecommunication Services (0.6%):
	445,000	Sprint Capital Corp., 8.75%, 3/15/32		534,556
	300,000	Sprint Communications, Inc., 6.88%, 11/15/28		315,000
	380,000	T-Mobile USA, Inc., 3.75%, 4/15/27, Callable 2/15/27 @ 100		365,949
	65,000	T-Mobile USA, Inc., 4.75%, 2/1/28, Callable 2/1/23 @ 102.38		62,888
	70,000	T-Mobile USA, Inc., 3.38%, 4/15/29, Callable 4/15/24 @ 101.69		61,442


Principal Amount			Value
Corporate Bonds, continued
Wireless Telecommunication Services, continued
$	630,000	T-Mobile USA, Inc., 3.88%, 4/15/30, Callable 1/15/30 @ 100	$	589,693
	82,000	T-Mobile USA, Inc., 4.38%, 4/15/40, Callable 10/15/39 @ 100		73,205
	161,000	T-Mobile USA, Inc., 4.50%, 4/15/50, Callable 10/15/49 @ 100		143,178

				2,145,911

	Total Corporate Bonds (Cost $132,997,212)			120,597,286

Yankee Debt Obligations (10.9%):
Aerospace & Defense (0.1%):
	57,000	Bombardier, Inc., 7.50%, 3/15/25, Callable 8/8/22 @ 101.25(b)		51,514
	280,000	Bombardier, Inc., 7.13%, 6/15/26, Callable 6/15/23 @ 103.56(b)		228,900
	170,000	Bombardier, Inc., 6.00%, 2/15/28, Callable 2/15/24 @ 103(b)		126,650

				407,064

Airlines (0.0%^†):
	100,000	VistaJet Malta Finance PLC / XO Management Holding, Inc., 7.88%, 5/1/27, Callable 5/1/24 @ 103.94(b)		88,250
	95,000	VistaJet Malta Finance PLC / XO Management Holding, Inc., 6.38%, 2/1/30, Callable 2/1/25 @ 103.19(b)		75,881

				164,131

Banks (3.2%):
	874,000	Barclays plc, 4.38%, 1/12/26		862,720
	503,000	Barclays plc, 2.85% (US0003M+245 bps), 5/7/26, Callable 5/7/25 @ 100		475,217
	580,000	Barclays plc, 5.09% (US0003M+305 bps), 6/20/30, Callable 6/20/29 @ 100		552,341
	200,000	Commonwealth Bank of Australia, 3.61%, 9/12/34, Callable 9/12/29 @ 100(b)		178,772
	791,000	Cooperatieve Rabobank UA, 4.38%, 8/4/25		783,419
	205,000	HSBC Holdings plc, 4.25%, 3/14/24		204,238
	200,000	Intesa Sanpaolo SpA, 5.02%, 6/26/24(b)		192,324
	1,432,000	Intesa Sanpaolo SpA, 5.71%, 1/15/26(b)		1,352,660
	3,808,000	Royal Bank of Scotland Group plc, 6.13%, 12/15/22		3,830,212
	826,000	Royal Bank of Scotland Group plc, 6.10%, 6/10/23		838,710
	347,000	Royal Bank of Scotland Group plc, 6.00%, 12/19/23		352,988
	286,000	Royal Bank of Scotland Group plc, 3.07% (H15T1Y+255 bps), 5/22/28, Callable 5/22/27 @ 100		259,458
	980,000	Societe Generale SA, 1.04% (H15T1Y+75 bps), 6/18/25, Callable 6/18/24 @ 100(b)		917,284
	513,000	Societe Generale SA, 1.49% (H15T1Y+110 bps), 12/14/26, Callable 12/14/25 @ 100(b)		453,074
	289,000	Westpac Banking Corp., 4.11% (H15T5Y+200 bps), 7/24/34, Callable 7/24/29 @ 100		265,408

				11,518,825

Biotechnology (0.0%^†):
	200,000	Grifols Escrow Issuer SA, 4.75%, 10/15/28, Callable 10/15/24 @ 102.38(b)		173,500

Capital Markets (2.0%):
	1,175,000	Credit Suisse Group AG, 3.80%, 6/9/23		1,167,740


Principal Amount			Value
Yankee Debt Obligations, continued
Capital Markets, continued
$	788,000	Credit Suisse Group AG, 2.59% (SOFR+156 bps), 9/11/25, Callable 9/11/24 @ 100(b)	$	741,178
	602,000	Credit Suisse Group AG, 4.19% (SOFR+373 bps), 4/1/31, Callable 4/1/30 @ 100(b)		535,289
	1,000,000	Credit Suisse Group Funding Guernsey, Ltd., 3.80%, 9/15/22		999,793
	720,000	Credit Suisse Group Funding Guernsey, Ltd., 3.75%, 3/26/25		699,196
	1,284,000	Deutsche Bank AG, 3.30%, 11/16/22		1,282,132
	1,462,000	Deutsche Bank AG, 4.50%, 4/1/25^		1,392,802
	314,000	UBS Group AG, 1.49% (H15T1Y+85 bps), 8/10/27, Callable 8/10/26 @ 100(b)		274,381

				7,092,511

Chemicals (0.0%^†):
	130,000	Consolidated Energy Finance SA, 6.50%, 5/15/26, Callable 7/18/22 @ 103.25(b)		120,900
	195,000	Methanex Corp., 5.13%, 10/15/27, Callable 4/15/27 @ 100		173,063
	95,000	Methanex Corp., 5.25%, 12/15/29, Callable 9/15/29 @ 100		80,038
	55,000	SPCM SA, 3.13%, 3/15/27, Callable 3/15/24 @ 101.56(b)		46,269

				420,270

Consumer Discretionary Services (0.0%^†):
	55,000	Studio City Co., Ltd., 7.00%, 2/15/27, Callable 2/15/24 @ 103.5(b)		47,437

Containers & Packaging (0.1%):
	25,000	Intelligent Packaging, Ltd. Finco, Inc./Intelligent Packaging, Ltd. Co-Issuer LLC, 6.00%, 9/15/28, Callable 9/15/22 @ 103(b)		20,563
	255,000	Trivium Packaging Finance BV, 5.50%, 8/15/26, Callable 8/15/22 @ 102.75(b)		239,700

				260,263

Diversified Consumer Services (0.1%):
	48,000	Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 6/1/28, Callable 6/1/24 @ 102.31(b)		39,000
	225,000	GEMS MENASA Cayman, Ltd. / GEMS Education Delaware LLC, 7.13%, 7/31/26, Callable 8/8/22 @ 103.56(b)		211,500

				250,500

Diversified Financial Services (1.0%):
	200,000	Altice Financing SA, 5.00%, 1/15/28, Callable 1/15/23 @ 102.5(b)		160,500
	610,000	Altice Financing SA, 5.75%, 8/15/29, Callable 8/15/24 @ 102.88(b)		489,525
	725,000	C&W Senior Financing Dac, 6.88%, 9/15/27, Callable 9/15/22 @ 103.44(b)		652,500
	2,052,000	Park Aerospace Holdings, 5.50%, 2/15/24(b)		2,028,915
	305,000	Vmed O2 UK Financing I plc, 4.25%, 1/31/31, Callable 1/31/26 @ 102.13(b)		245,144

				3,576,584

Diversified Telecommunication Services (0.1%):
	270,000	Altice France SA, 6.00%, 2/15/28, Callable 2/15/23 @ 103^(b)		191,025


Principal Amount			Value
Yankee Debt Obligations, continued
Diversified Telecommunication Services, continued
$	185,000	Altice France SA, 5.13%, 1/15/29, Callable 9/15/23 @ 102.56(b)	$	140,137
	80,000	Telecom Italia SpA, 6.00%, 9/30/34		60,400

				391,562

Energy Equipment & Services (0.0%^†):
	150,000	Transocean Poseidon, Ltd., 6.88%, 2/1/27, Callable 8/8/22 @ 105.16(b)		133,875

Hotels, Restaurants & Leisure (0.0%^†):
	55,000	1011778 BC ULC / New Red Finance, Inc., 5.75%, 4/15/25, Callable 8/8/22 @ 102.88^(b)		55,275
	210,000	1011778 BC ULC / New Red Finance, Inc., 4.00%, 10/15/30, Callable 10/15/25 @ 102(b)		170,100
	75,000	Melco Resorts Finance, Ltd., 5.75%, 7/21/28, Callable 7/21/23 @ 102.88(b)		48,375
	65,000	Melco Resorts Finance, Ltd., 5.38%, 12/4/29, Callable 12/4/24 @ 102.69^(b)		40,625

				314,375

Insurance (0.2%):
	465,000	AIA Group, Ltd., 3.38%, 4/7/30, Callable 1/7/30 @ 100(b)		437,923
	200,000	Swiss Re Finance Luxembourg SA, 5.00% (H15T5Y+358 bps), 4/2/49, Callable 4/2/29 @ 100(b)		189,000

				626,923

Marine (0.0%^†):
	85,000	Seaspan Corp., 5.50%, 8/1/29, Callable 8/1/24 @ 102.75(b)		67,362

Materials (0.2%):
	55,000	Cerdia Finanz GmbH, 10.50%, 2/15/27, Callable 2/15/24 @ 105.25(b)		44,894
	220,000	NOVA Chemicals Corp., 5.25%, 6/1/27, Callable 3/3/27 @ 100(b)		188,375
	225,000	Nufarm Australia, Ltd. / Nufarm Americas, Inc., 5.00%, 1/27/30, Callable 1/27/25 @ 102.5(b)		190,125

				423,394

Media (0.1%):
	255,000	VZ Secured Financing BV, 5.00%, 1/15/32, Callable 1/15/27 @ 102.5(b)		211,650
	120,000	Ziggo BV, 5.13%, 2/28/30, Callable 2/15/25 @ 102.56(b)		94,200

				305,850

Metals & Mining (0.0%^†):
	200,000	ERO Copper Corp., 6.50%, 2/15/30, Callable 2/15/25 @ 103.25(b)		160,000
	170,000	First Quantum Minerals, Ltd., 6.88%, 3/1/26, Callable 7/18/22 @ 103.44(b)		155,550
	55,000	First Quantum Minerals, Ltd., 6.88%, 10/15/27, Callable 10/15/23 @ 103.44(b)		49,225
	5,000	FMG Resources Pty, Ltd., 4.50%, 9/15/27, Callable 6/15/27 @ 100(b)		4,444
	105,000	Infrabuild Australia Pty, Ltd., 12.00%, 10/1/24, Callable 8/8/22 @ 109(b)		102,506
	75,000	Mineral Resources, Ltd., 8.00%, 11/1/27, Callable 11/1/24 @ 104(b)		72,750

				544,475


Principal Amount			Value
Yankee Debt Obligations, continued
Multi-Utilities (0.1%):
$	525,000	InterGen NV, 7.00%, 6/30/23, Callable 8/8/22 @ 100(b)	$	507,938

Oil, Gas & Consumable Fuels (1.4%):
	619,000	Cenovus Energy, Inc., 4.25%, 4/15/27, Callable 1/15/27 @ 100		607,394
	115,000	eG Global Finance plc, 6.75%, 2/7/25, Callable 7/18/22 @ 101.69(b)		108,244
	205,000	eG Global Finance plc, 8.50%, 10/30/25, Callable 8/8/22 @ 104.25(b)		198,850
	223,000	Enbridge, Inc., 4.00%, 10/1/23, Callable 7/1/23 @ 100		223,634
	235,000	Meg Energy Corp., 7.13%, 2/1/27, Callable 2/1/23 @ 103.56(b)		235,000
	1,385,000	Petroleos Mexicanos, 6.84%, 1/23/30, Callable 10/23/29 @ 100		1,087,183
	120,000	Petroleos Mexicanos, 5.95%, 1/28/31, Callable 10/28/30 @ 100		87,670
	295,000	Petroleos Mexicanos, 6.70%, 2/16/32, Callable 11/16/31 @ 100		224,296
	2,762,000	Petroleos Mexicanos, 6.75%, 9/21/47		1,692,816
	502,000	Petroleos Mexicanos, 6.95%, 1/28/60, Callable 7/28/59 @ 100		311,413
	70,000	Teine Energy, Ltd., 6.88%, 4/15/29, Callable 4/15/24 @ 103.44(b)		65,450

				4,841,950

Pharmaceuticals (0.0%^†):
	115,000	Bausch Health Cos., Inc., 5.50%, 11/1/25, Callable 8/8/22 @ 101.38(b)		100,912

Software (0.0%^†):
	95,000	Open Text Corp., 3.88%, 2/15/28, Callable 2/15/23 @ 101.94(b)		84,550
	115,000	Open Text Corp., 3.88%, 12/1/29, Callable 12/1/24 @ 101.94(b)		98,900

				183,450

Sovereign Bond (1.2%):
	355,000	Abu Dhabi Government International Bond, 3.88%, 4/16/50(b)		316,780
	56,434	Argentine Republic Government International Bond, 1.00%, 7/9/29, Callable 8/8/22 @ 100		12,698
	513,757	Argentine Republic Government International Bond, 0.50%, 7/9/30, Callable 8/8/22 @ 100		117,522
	941,242	Argentine Republic Government International Bond, 0.12%, 7/9/35, Callable 8/8/22 @ 100		201,190
	400,000	Corp. Andina de Fomento, 2.38%, 5/12/23		397,048
	1,344,000	Dominican Republic, 5.50%, 1/27/25(b)		1,330,560
	250,000	Dominican Republic, 6.00%, 7/19/28(b)		230,937
	600,000	Indonesia Government International Bond, 4.20%, 10/15/50		516,038
	470,000	Qatar Government International Bond, 4.40%, 4/16/50(b)		450,068
	230,000	Saudi Government International Bond, 3.25%, 10/22/30(b)		216,605
	200,000	Saudi Government International Bond, 4.50%, 4/22/60(b)		184,599

				3,974,045


Principal Amount			Value
Yankee Debt Obligations, continued
Telecommunications (0.0%^†):
$	110,000	Intelsat Jackson Holdings SA, 6.50%, 3/15/30, Callable 3/15/25 @ 102(b)	$	90,807

Trading Companies & Distributors (0.6%):
	412,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 4.88%, 1/16/24, Callable 12/16/23 @ 100		410,044
	637,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 1.65%, 10/29/24, Callable 9/29/24 @ 100		588,393
	217,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 6.50%, 7/15/25, Callable 6/15/25 @ 100		221,996
	251,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 4.45%, 4/3/26, Callable 2/3/26 @ 100		240,469
	209,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 2.45%, 10/29/26, Callable 9/29/26 @ 100		182,097
	219,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.00%, 10/29/28, Callable 8/29/28 @ 100		184,587
	234,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.30%, 1/30/32, Callable 10/30/31 @ 100		187,743

				2,015,329

Wireless Telecommunication Services (0.5%):
	330,000	Empresa Nacional del Pet, 4.38%, 10/30/24(b)		329,175
	630,000	Millicom International Cellular SA, 6.25%, 3/25/29, Callable 3/25/24 @ 103.13(b)		552,037
	135,000	Millicom International Cellular SA, 4.50%, 4/27/31, Callable 4/27/26 @ 102.25(b)		99,900
	230,000	Rogers Communications, Inc., 3.20%, 3/15/27, Callable 2/15/27 @ 100(b)		218,636
	201,000	Rogers Communications, Inc., 3.80%, 3/15/32, Callable 12/15/31 @ 100(b)		184,613

				1,384,361

	Total Yankee Debt Obligations (Cost $44,913,860)			39,817,693

Municipal Bonds (0.7%):
California (0.2%):
	10,000	California State, Build America Bonds, GO, 7.35%, 11/1/39		13,074
	460,000	California State, Build America Bonds, GO, 7.30%, 10/1/39		599,789

				612,863

Illinois (0.4%):
	310,000	Chicago Illinois, Taxable Project, Build America Bonds, GO, Series C1, 7.78%, 1/1/35		346,146
	295,000	Illinois State, Build America Bonds, GO, 5.10%, 6/1/33		293,669
	34,091	Illinois State, Build America Bonds, GO, 4.95%, 6/1/23		34,357
	315,000	Illinois State, Build America Bonds, GO, 6.63%, 2/1/35		335,510
	425,000	Illinois State, Build America Bonds, GO, Series 3, 6.73%, 4/1/35		437,937

				1,447,619

New Jersey (0.1%):
	504,000	New Jersey Economic Development Authority Revenue, Build America Bonds, GO, Series A, 7.43%, 2/15/29		568,875

	Total Municipal Bonds (Cost $2,664,361)			2,629,357


Principal Amount			Value
U.S. Government Agency Mortgages (17.8%):
Federal Home Loan Mortgage Corporation (4.5%)
$	22,975	2.50%, 6/1/31, Pool #G18604	$	22,342
	40,234	2.50%, 7/1/31, Pool #V61246		38,654
	68,840	2.50%, 8/1/31, Pool #V61273		66,434
	242,927	3.50%, 3/1/32, Pool #C91403		238,038
	727,852	3.50%, 7/1/32, Pool #C91467		713,195
	6,397	2.50%, 8/1/32, Pool #G18654		6,201
	6,822	2.50%, 11/1/32, Pool #G18665		6,613
	207,456	2.50%, 12/1/32, Pool #G18669		201,103
	31,179	2.50%, 3/1/33, Pool #G18680		29,921
	12,791	2.50%, 4/1/33, Pool #G18683		12,272
	74,957	3.00%, 4/1/33, Pool #G18684		73,438
	6,444	2.50%, 5/1/33, Pool #G18687		6,183
	140,244	2.50%, 7/1/33, Pool #G16661		135,690
	29,426	3.00%, 4/1/34, Pool #G16829		29,083
	260,458	3.50%, 10/1/34, Pool #C91793		256,080
	510,553	4.00%, 5/1/37, Pool #C91938		511,159
	21,792	3.50%, 4/1/40, Pool #V81744		21,379
	40,045	3.50%, 5/1/40, Pool #V81750		39,285
	46,470	3.50%, 6/1/40, Pool #V81792		45,600
	24,303	3.50%, 8/1/40, Pool #V81886		23,847
	16,668	3.50%, 9/1/40, Pool #V81958		16,352
	30,756	4.50%, 1/1/41, Pool #A96051		31,456
	271,420	4.00%, 1/1/41, Pool #A96413		275,169
	209,872	4.00%, 2/1/41, Pool #A96807		212,787
	28,060	4.50%, 3/1/41, Pool #A97673		28,988
	21,817	2.00%, 4/1/41, Pool #RB5108		19,383
	42,983	4.50%, 4/1/41, Pool #A97942		44,402
	163,162	5.00%, 6/1/41, Pool #G06596		174,245
	22,566	2.00%, 7/1/41, Pool #RB5118		19,788
	23,533	2.00%, 10/1/41, Pool #RB5131		20,932
	574,976	4.50%, 1/1/42, Pool #G60517		594,067
	23,291	4.00%, 11/1/42, Pool #Q13121		23,262
	79,297	3.00%, 12/1/42, Pool #C04320		75,293
	26,502	4.00%, 5/1/43, Pool #Q18481		26,249
	26,229	4.00%, 7/1/43, Pool #Q19597		25,975
	24,472	4.00%, 10/1/43, Pool #Q22499		24,235
	35,508	4.00%, 1/1/44, Pool #V80950		35,170
	189,236	3.50%, 1/1/44, Pool #G07922		186,359
	95,375	3.50%, 1/1/44, Pool #G60271		92,497
	138,071	4.00%, 1/1/45, Pool #Q30720		137,954
	97,682	4.00%, 2/1/45, Pool #G07949		99,886
	27,690	3.50%, 3/1/45, Pool #Q32328		26,911
	27,350	3.50%, 3/1/45, Pool #Q31974		26,574
	46,220	3.50%, 3/1/45, Pool #Q32008		44,915
	18,662	3.00%, 5/1/45, Pool #Q33468		17,660
	115,334	3.50%, 5/1/45, Pool #Q33547		111,520
	122,368	3.00%, 6/1/45, Pool #Q34156		115,850
	151,510	3.50%, 6/1/45, Pool #Q34164		146,488
	24,622	3.50%, 6/1/45, Pool #Q33791		23,809
	34,054	3.00%, 7/1/45, Pool #Q34759		32,247
	10,370	3.00%, 7/1/45, Pool #Q34979		9,861
	47,251	4.00%, 8/1/45, Pool #Q35845		50,073
	10,822	4.00%, 9/1/45, Pool #Q37853		10,820
	4,250	4.00%, 11/1/45, Pool #Q38812		4,210
	175,209	3.50%, 11/1/45, Pool #Q37467		170,272
	14,595	4.00%, 2/1/46, Pool #Q38783		14,433


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal Home Loan Mortgage Corporation, continued
$	10,486	4.00%, 2/1/46, Pool #Q38782	$	10,440
	1,950	4.00%, 2/1/46, Pool #Q38879		1,942
	27,165	4.00%, 4/1/46, Pool #V82292		27,151
	6,109	4.00%, 4/1/46, Pool #Q39975		6,083
	56,866	3.50%, 5/1/46, Pool #Q40647		55,205
	65,462	3.50%, 5/1/46, Pool #G60603		63,457
	202,616	3.50%, 5/1/46, Pool #G60553		195,504
	170,204	3.50%, 9/1/46, Pool #Q43257		164,995
	8,247	4.00%, 9/1/47, Pool #Q50433		8,198
	14,793	4.00%, 10/1/47, Pool #Q51189		14,705
	11,144	4.00%, 2/1/48, Pool #Q54192		11,138
	118,362	3.50%, 3/1/48, Pool #G67710		116,087
	134,156	4.00%, 5/1/48, Pool #Q55992		134,085
	406,462	4.00%, 6/1/48, Pool #G67713		406,305
	47,947	4.00%, 7/1/48, Pool #Q59935		47,869
	376,986	2.50%, 10/1/50, Pool #SD7525		343,165
	539,225	2.50%, 11/1/50, Pool #SD7530		486,742
	42,511	2.50%, 2/1/51, Pool #SD7535		38,696
	590,635	2.00%, 3/1/51, Pool #SD8134		513,289
	636,351	3.00%, 5/1/51, Pool #QC1881		594,388
	137,477	2.00%, 5/1/51, Pool #SD7541		119,562
	14,393	2.00%, 7/1/51, Pool #QC4163		12,512
	143,464	3.00%, 9/1/51, Pool #QC7496		134,021
	337,303	2.00%, 10/1/51, Pool #RA6076		293,042
	693,380	2.00%, 10/1/51, Pool #RA5715		603,841
	143,703	3.00%, 11/1/51, Pool #QD1240		134,279
	480,263	2.00%, 11/1/51, Pool #RA6241		417,287
	192,829	2.00%, 11/1/51, Pool #RA6302		167,512
	386,014	2.50%, 12/1/51, Pool #RA6434		348,449
	97,072	2.50%, 12/1/51, Pool #RA6496		87,624
	194,329	2.00%, 12/1/51, Pool #RA6510		168,835
	2,006,919	3.00%, 12/1/51, Pool #SD8184		1,874,968
	1,156,906	2.50%, 12/1/51, Pool #RA6435		1,043,383
	341,240	2.50%, 1/1/52, Pool #RA6622		307,712
	590,779	2.00%, 2/1/52, Pool #RA6820		513,147
	294,264	2.00%, 2/1/52, Pool #RA6823		255,720
	644,174	3.00%, 3/1/52, Pool #RA6988		601,663
	249,499	3.50%, 3/1/52, Pool #RA6950		240,979
	180,087	3.50%, 3/1/52, Pool #SD8202		173,597
	240,654	3.50%, 3/1/52, Pool #RA6949		231,763

				16,415,949

Federal National Mortgage Association (9.3%)
	99,392	2.50%, 6/1/29, Pool #MA3734		95,391
	58,040	2.50%, 9/1/31, Pool #AS8012		55,655
	314,891	3.00%, 4/1/32, Pool #BD9809		308,232
	384,059	3.00%, 12/1/32, Pool #BM5345		376,814
	294,699	2.50%, 12/1/32, Pool #CA3748		285,421
	21,302	3.00%, 3/1/33, Pool #BM4614		20,913
	2,694	4.50%, 7/1/33, Pool #729327		2,748
	1,130	4.50%, 7/1/33, Pool #720240		1,159
	2,889	4.50%, 8/1/33, Pool #727160		2,967
	3,839	4.50%, 8/1/33, Pool #729713		3,933
	2,406	4.50%, 8/1/33, Pool #727029		2,461
	9,729	4.50%, 8/1/33, Pool #726928		10,012
	3,871	4.50%, 8/1/33, Pool #723124		3,982
	8,063	4.50%, 8/1/33, Pool #726956		8,296


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	16,541	4.50%, 8/1/33, Pool #729380	$	17,019
	5,812	4.50%, 9/1/33, Pool #734922		6,273
	15,631	4.50%, 9/1/33, Pool #727147		16,876
	24,859	4.50%, 12/1/33, Pool #AL5321		26,849
	429,776	2.50%, 6/1/34, Pool #BN7572		412,219
	19,051	6.00%, 10/1/34, Pool #AL2130		21,712
	35,756	4.50%, 9/1/35, Pool #AB8198		38,605
	350,681	6.00%, 5/1/36, Pool #745512		385,517
	175,467	6.00%, 1/1/37, Pool #932030		189,135
	32,529	6.00%, 3/1/37, Pool #889506		36,104
	2,900,000	2.00%, 7/25/37, TBA		2,709,687
	47,854	6.00%, 1/1/38, Pool #889371		53,531
	16,755	6.00%, 3/1/38, Pool #889219		18,179
	7,819	6.00%, 7/1/38, Pool #889733		8,658
	50,420	4.50%, 3/1/39, Pool #AB0051		54,441
	255,458	4.50%, 4/1/39, Pool #AB0043		275,872
	147,500	2.50%, 8/1/39, Pool #MA3761		134,744
	19,983	4.50%, 11/1/39, Pool #AC5442		20,363
	64,671	6.00%, 5/1/40, Pool #AL2129		71,098
	19,080	2.00%, 11/1/40, Pool #MA4176		17,179
	19,580	2.00%, 12/1/40, Pool #MA4204		17,379
	24,434	4.00%, 12/1/40, Pool #AA4757		24,529
	20,930	2.00%, 2/1/41, Pool #MA4268		18,595
	30,901	4.50%, 2/1/41, Pool #AH5580		31,807
	21,407	2.00%, 3/1/41, Pool #MA4287		19,019
	21,953	2.00%, 4/1/41, Pool #MA4311		19,503
	22,263	2.00%, 5/1/41, Pool #MA4333		19,778
	22,565	2.00%, 6/1/41, Pool #MA4364		20,045
	177,102	2.00%, 10/1/41, Pool #MA4446		157,531
	479,256	1.50%, 11/1/41, Pool #MA4473		407,513
	5,318	6.00%, 1/1/42, Pool #AL2128		5,959
	146,095	2.50%, 2/1/43, Pool #AB8465		135,445
	35,805	4.00%, 10/1/43, Pool #BM1167		36,000
	151,673	4.50%, 3/1/44, Pool #AL5082		152,659
	16,133	4.00%, 12/1/44, Pool #AW9502		16,160
	76,356	4.00%, 12/1/44, Pool #AX8459		76,079
	7,457	4.00%, 12/1/44, Pool #AY0045		7,401
	113,339	4.00%, 3/1/45, Pool #AL6541		112,928
	24,405	4.00%, 5/1/45, Pool #AZ1876		24,266
	47,432	3.00%, 5/1/45, Pool #AS4972		44,952
	101,699	4.00%, 5/1/45, Pool #AZ1207		100,484
	24,334	5.00%, 6/1/45, Pool #AZ3448		25,579
	30,409	4.00%, 6/1/45, Pool #AZ3341		30,236
	106,127	4.00%, 6/1/45, Pool #AY8096		104,862
	48,505	4.00%, 6/1/45, Pool #AY8126		47,924
	22,446	4.00%, 6/1/45, Pool #AZ2719		22,319
	120,124	4.00%, 7/1/45, Pool #AZ0833		119,446
	257,501	3.50%, 7/1/45, Pool #AZ0814		248,715
	81,714	4.00%, 7/1/45, Pool #AZ1783		80,749
	105,426	3.00%, 8/1/45, Pool #AS5634		99,916
	39,789	3.00%, 8/1/45, Pool #AZ8288		37,704
	15,624	3.00%, 8/1/45, Pool #AZ3728		14,823
	53,764	4.00%, 10/1/45, Pool #AL7413		53,565
	309,217	4.00%, 10/1/45, Pool #AL7593		308,070
	14,309	4.00%, 11/1/45, Pool #AZ0560		14,138
	18,757	4.00%, 12/1/45, Pool #AS6350		18,687


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	42,714	4.00%, 12/1/45, Pool #BA6404	$	42,204
	34,224	4.50%, 2/1/46, Pool #BM5199		35,272
	23,034	4.00%, 4/1/46, Pool #BC3920		22,860
	8,124	4.00%, 5/1/46, Pool #BC2276		8,117
	251,000	3.50%, 5/1/46, Pool #BC0880		249,278
	104,983	4.00%, 7/1/46, Pool #BC1443		104,912
	31,701	4.50%, 8/1/46, Pool #AL9111		32,641
	110,310	4.00%, 9/1/46, Pool #BC2843		110,235
	344,716	3.50%, 12/1/46, Pool #BC9077		342,350
	49,504	3.50%, 2/1/47, Pool #BE5696		47,858
	434,146	4.50%, 2/1/47, Pool #AL9846		448,345
	1,115,408	4.00%, 2/1/47, Pool #AL9779		1,112,576
	5,339	4.00%, 6/1/47, Pool #BH4269		5,301
	31,389	3.00%, 5/1/49, Pool #MA3670		29,568
	322,362	4.50%, 9/1/49, Pool #FM1534		337,708
	83,907	3.50%, 11/1/49, Pool #CA4557		81,153
	394,075	4.00%, 11/1/49, Pool #CA4628		394,400
	103,441	3.00%, 2/1/50, Pool #CA5126		96,765
	324,035	2.50%, 8/1/50, Pool #SD0430		292,455
	635,472	3.50%, 2/1/51, Pool #CA9319		614,894
	460,172	2.00%, 3/1/51, Pool #MA4281		399,914
	457,634	2.00%, 4/1/51, Pool #MA4305		397,684
	277,243	2.50%, 4/1/51, Pool #FM6540		252,788
	558,763	3.00%, 6/1/51, Pool #CB0850		522,161
	10,178	2.00%, 7/1/51, Pool #BT1461		8,855
	47,093	2.50%, 8/1/51, Pool #CB1384		42,472
	600,000	3.00%, 8/25/51, TBA		558,937
	191,266	2.50%, 9/1/51, Pool #CB1549		172,561
	335,220	2.00%, 10/1/51, Pool #CB1801		291,250
	251,929	2.00%, 10/1/51, Pool #CB1799		218,902
	772,355	2.50%, 11/1/51, Pool #FM9501		696,771
	226,982	2.00%, 11/1/51, Pool #FM9539		197,228
	351,945	2.00%, 11/1/51, Pool #FM9568		305,793
	192,748	3.00%, 11/1/51, Pool #FM9633		181,734
	97,077	2.00%, 12/1/51, Pool #CB2348		84,341
	1,168,472	2.50%, 12/1/51, Pool #FM9865		1,054,088
	136,052	2.50%, 12/1/51, Pool #CB2376		122,710
	533,437	2.50%, 12/1/51, Pool #CB2289		481,529
	98,869	3.00%, 12/1/51, Pool #BT9503		92,351
	192,915	2.50%, 12/1/51, Pool #CB2320		174,041
	152,898	2.50%, 12/1/51, Pool #CB2321		138,018
	146,033	2.00%, 12/1/51, Pool #CB2347		126,871
	537,205	2.00%, 12/1/51, Pool #CB2349		466,704
	144,718	2.00%, 12/1/51, Pool #CB2350		125,731
	885,405	2.00%, 1/1/52, Pool #FS0286		769,746
	381,784	2.00%, 1/1/52, Pool #FS0288		331,652
	900,549	3.00%, 2/1/52, Pool #FS0671		840,877
	933,138	2.00%, 2/1/52, Pool #CB2842		810,532
	391,558	2.50%, 2/1/52, Pool #FS0605		353,452
	243,213	3.00%, 2/1/52, Pool #FS0631		227,336
	147,331	2.50%, 3/1/52, Pool #FS1082		134,278
	38,268	3.50%, 3/1/52, Pool #CB3174		36,888
	200,000	3.50%, 7/25/52, TBA		192,375
	1,000,000	3.00%, 7/25/52, TBA		932,656
	2,675,000	2.50%, 7/25/52, TBA		2,408,336
	1,500,000	2.00%, 7/25/52, TBA		1,301,953


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	2,000,000	1.50%, 7/25/52, TBA	$	1,659,062
	3,050,000	2.00%, 8/25/52, TBA		2,643,969
	1,950,000	2.50%, 8/25/52, TBA		1,753,477

				34,285,725

Government National Mortgage Association (4.0%)
	4,956	5.00%, 6/15/34, Pool #629493		5,075
	2,998	5.00%, 3/15/38, Pool #676766		3,182
	1,614	5.00%, 4/15/38, Pool #672672		1,713
	5,690	5.00%, 8/15/38, Pool #687818		6,038
	53,104	5.00%, 1/15/39, Pool #705997		56,501
	102,951	5.00%, 3/15/39, Pool #646746		109,546
	613	5.00%, 3/15/39, Pool #697946		640
	99,793	4.00%, 10/15/40, Pool #783143		101,644
	27,643	4.00%, 10/20/40, Pool #G24833		28,153
	83,483	4.00%, 1/20/41, Pool #4922		85,024
	229,292	4.50%, 3/20/41, Pool #4978		239,303
	80,295	4.50%, 5/20/41, Pool #005055		83,798
	171,075	4.00%, 5/20/41, Pool #5054		174,233
	78,210	4.50%, 6/15/41, Pool #366975		81,669
	53,301	4.50%, 6/20/41, Pool #005082		55,627
	190,595	4.00%, 10/20/41, Pool #5203		194,115
	214,349	3.50%, 12/20/41, Pool #5258		216,161
	374,106	4.00%, 1/20/42, Pool #5280		381,013
	132,061	3.00%, 12/20/42, Pool #MA0624		126,590
	206,138	3.00%, 12/20/42, Pool #AA5872		195,791
	23,129	3.00%, 1/20/43, Pool #MA0698		22,177
	288,016	3.50%, 2/20/43, Pool #MA0783		289,936
	58,851	3.00%, 3/20/43, Pool #AD8812		58,085
	38,540	3.50%, 3/20/43, Pool #AD8884		37,860
	133,773	3.00%, 3/20/43, Pool #AA6146		133,454
	38,960	3.50%, 4/20/43, Pool #AD9075		38,273
	14,656	3.50%, 4/20/43, Pool #AB9891		14,398
	3,378	4.00%, 7/20/44, Pool #MA2074		3,428
	48,904	4.00%, 5/20/45, Pool #MA2893		49,409
	71,306	4.00%, 8/20/45, Pool #MA3035		72,041
	2,671	4.00%, 9/20/45, Pool #MA3106		2,699
	2,833	4.00%, 10/20/45, Pool #MA3174		2,862
	3,294	4.00%, 12/20/45, Pool #MA3311		3,328
	3,197	4.00%, 1/20/46, Pool #MA3377		3,230
	143,263	4.00%, 4/15/46, Pool #784232		150,443
	191,786	4.00%, 5/20/46, Pool #MA3664		193,461
	22,133	3.50%, 7/20/46, Pool #784391		21,884
	12,280	3.00%, 10/20/46, Pool #MA4003		11,612
	639,132	3.00%, 12/20/46, Pool #MA4126		611,379
	69,145	4.00%, 1/15/47, Pool #AX5857		70,194
	51,470	4.00%, 1/15/47, Pool #AX5831		51,951
	201,468	3.00%, 1/20/47, Pool #MA4195		190,503
	121,121	3.00%, 2/20/47, Pool #MA4261		114,521
	23,727	4.00%, 3/20/47, Pool #MA4322		23,890
	198,501	4.00%, 4/20/47, Pool #784303		197,363
	210,136	4.00%, 4/20/47, Pool #784304		208,931
	23,726	4.00%, 4/20/47, Pool #MA4383		23,889
	15,291	4.00%, 5/20/47, Pool #MA4452		15,396
	64,999	4.00%, 6/20/47, Pool #MA4511		65,445
	73,646	4.00%, 4/20/48, Pool #BG3507		74,143
	60,874	4.00%, 4/20/48, Pool #BG7744		61,284


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Government National Mortgage Association, continued
$	76,097	3.50%, 11/20/50, Pool #MA6997	$	74,302
	69,826	3.00%, 9/20/51, Pool #MA7590		65,993
	70,984	3.00%, 10/20/51, Pool #MA7650		67,081
	700,000	4.50%, 7/20/52, TBA		710,281
	1,850,000	2.00%, 7/20/52, TBA		1,640,719
	3,025,000	2.50%, 7/20/52, TBA		2,770,711
	1,500,000	3.50%, 7/20/52, TBA		1,457,109
	750,000	3.00%, 7/20/52, TBA		707,813
	2,550,000	2.00%, 8/20/52, TBA		2,259,938

				14,717,232

	Total U.S. Government Agency Mortgages (Cost $68,849,660)			65,418,906

U.S. Treasury Obligations (30.1%):
U.S. Treasury Bonds (10.6%)
	2,566,000	1.13%, 5/15/40		1,796,200
	7,103,000	1.75%, 8/15/41		5,434,905
	1,600,000	2.00%, 11/15/41		1,278,000
	11,313,000	3.00%, 2/15/47		10,637,755
	18,386,000	2.00%, 8/15/51		14,335,334
	4,222,000	1.88%, 11/15/51		3,195,526
	2,100,000	2.25%, 2/15/52		1,743,000
	600,000	2.88%, 5/15/52		571,313

				38,992,033

U.S. Treasury Notes (19.5%)
	17,438,000	0.25%, 7/31/25		16,023,887
	4,710,000	0.38%, 12/31/25		4,296,403


Shares or Principal Amount			Value
U.S. Treasury Obligations, continued
U.S. Treasury Notes, continued
$	7,700,000	0.38%, 1/31/26	$	7,008,203
	9,253,000	0.75%, 3/31/26		8,506,977
	3,457,000	1.25%, 12/31/26		3,199,886
	9,765,000	1.25%, 5/31/28		8,811,387
	6,946,000	1.13%, 8/31/28		6,192,793
	1,460,000	1.25%, 9/30/28		1,310,122
	7,836,900	1.13%, 2/15/31		6,751,979
	10,766,000	1.38%, 11/15/31		9,364,738

				71,466,375

	Total U.S. Treasury Obligations (Cost $130,985,628)			110,458,408

Short-Term Security Held as Collateral for Securities on Loan (0.6%):
	2,365,650	BlackRock Liquidity FedFund, Institutional Class , 0.19%(f)(g)		2,365,650

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $2,365,650)			2,365,650

Unaffiliated Investment Company (0.8%):
Money Markets (0.8%):
	3,020,452	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(g)		3,020,452

	Total Unaffiliated Investment Company (Cost $3,020,452)			3,020,452

	Total Investment Securities (Cost $434,601,829) — 106.5%			391,157,224
	Net other assets (liabilities) — (6.5)%			(23,823,887	)

	Net Assets — 100.0%		$	367,333,337

The following represents the concentrations by country of risk (based on the domicile of the security issuer) relative to the total value of investments as of June 30, 2022:


Country	Percentage
Luxembourg		0.5	%
Macau		—	%^†
Mexico		0.9	%
Netherlands		0.5	%
Qatar		0.1	%
Saudi Arabia		0.1	%
Spain		—	%^†
Supranational		0.1	%
Switzerland		0.4	%
United Arab Emirates		0.1	%
United Kingdom		2.0	%
United States		87.1	%
Zambia		—	%^†

		100.0	%

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	434,601,829

Investment securities, at value(a)	$	391,157,224
Interest and dividends receivable		3,023,795
Receivable for TBA investments sold		10,189,086
Prepaid expenses		1,139

Total Assets		404,371,244

Liabilities:
Cash overdraft		2,011
Payable for investments purchased		7,972
Payable for TBA investments purchased		34,151,438
Payable for capital shares redeemed		213,994
Payable for collateral received on loaned securities		2,365,650
Manager fees payable		152,612
Administration fees payable		56,036
Distribution fees payable		72,654
Custodian fees payable		906
Administrative and compliance services fees payable		356
Transfer agent fees payable		1,662
Trustee fees payable		3,050
Other accrued liabilities		9,566

Total Liabilities		37,037,907

Net Assets	$	367,333,337

Net Assets Consist of:
Paid in capital	$	391,001,887
Total distributable earnings		(23,668,550	)

Net Assets	$	367,333,337

Class 1
Net Assets	$	17,642,880
Shares of beneficial interest (unlimited number of shares authorized, no par value)		1,938,914
Net Asset Value (offering and redemption price per share)	$	9.10

Class 2
Net Assets	$	349,690,457
Shares of beneficial interest (unlimited number of shares authorized, no par value)		37,254,844
Net Asset Value (offering and redemption price per share)	$	9.39

(a)	Includes securities on loan of $2,266,667.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Interest	$	6,198,529
Dividends		12,382
Income from securities lending		7,479

Total Investment Income		6,218,390

Expenses:
Management fees		1,001,568
Administration fees		72,873
Distribution fees — Class 2		476,817
Custodian fees		4,412
Administrative and compliance services fees		2,392
Transfer agent fees		5,283
Trustee fees		9,441
Professional fees		7,623
Shareholder reports		8,312
Other expenses		3,942

Total expenses		1,592,663

Net Investment Income/(Loss)		4,625,727

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities		(2,936,109	)
Change in net unrealized appreciation/depreciation on securities		(51,535,817	)

Net realized and Change in net unrealized gains/losses on investments		(54,471,926	)

Change in Net Assets Resulting From Operations	$	(49,846,199	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services — Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL Fidelity Institutional Asset Management Total Bond Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

The Fund may purchase securities on a when-issued basis. When-issued securities are securities purchased for delivery beyond the normal settlement date at a stated price and yield and thereby involve risk that the yield obtained in the transaction will be less than that available in the market when the delivery takes place. The Fund will not pay for such securities or start earning interest on them until they are received. When a Fund agrees to purchase securities on a when-issued basis, the Fund will segregate or designate cash or liquid assets equal to the amount of the commitment. Securities purchased on a when-issued basis are recorded as an asset and are subject to changes in the value based upon changes in the general level of interest rates. The Fund may sell when-issued securities before they are delivered, which may result in a capital gain or loss.

loss, reclassification of certain market discounts, gain/loss, paydowns, and distributions), such amounts are reclassified within the composition of net assets based on their federal tax-basis treatment; temporary differences (e.g., wash sales and differing treatment on certain investments) do not require reclassification. Distributions to shareholders that exceed net investment income and net realized gains for tax purposes are reported as distributions of capital.

Expenses directly attributable to the Fund are charged directly to the Fund, while expenses attributable to more than one Fund are allocated among the respective Funds based upon relative net assets or some other reasonable method. Each class of shares bears its pro-rata portion of expenses attributable to its series, except that each class separately bears expenses related specifically to that class, such as distribution fees. Expenses which are attributable to more than one Trust are allocated across the Allianz Variable Insurance Products Trust, Allianz Variable Insurance Products Fund of Funds Trust, and AIM ETF Products Trust based upon relative net assets or another reasonable basis. Allianz Investment Management LLC (the “Manager”), serves as the investment manager for the Trust, Allianz Variable Insurance Products Fund of Funds Trust and AIM ETF Products Trust.

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $733 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $2,365,650 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

The Manager provides investment advisory and management services for the Fund. The Manager has retained an independent money management organization (the “Subadviser”), to make investment decisions on behalf of the Fund. Pursuant to a subadvisory agreement with FIAM LLC (“FIAM”), FIAM provides investment advisory services as the Subadviser for the Fund subject to the general supervision of the Trustees and the Manager. The Manager is entitled to a fee, computed daily and paid monthly, based on the average daily net assets of the Fund. Expenses incurred by the Fund for investment advisory and management services are reflected on the Statement of Operations as “Management fees.” For its services, the Subadviser is entitled to a fee payable by the Manager. The Manager has contractually agreed to waive fees and reimburse the Fund to limit the annual expenses, excluding interest expense (e.g., cash overdraft fees), taxes, brokerage commissions, acquired fund fees and expenses, other expenditures that are capitalized in accordance with U.S. GAAP and other extraordinary expenses not incurred in the ordinary course of the Fund’s business, based on the daily net assets of the Fund, through April 30, 2023.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

Allianz Life Financial Services, LLC (“ALFS”), an affiliate of the Manager, serves as distributor of the Fund. ALFS receives an annual 12b-1 fee in the maximum amount of 0.25% of the average daily net assets attributable of Class 2 shares, plus a Trust-wide annual fee of $42,500 paid by the Manager from its profits and not by the Trust, for recordkeeping and reporting services.

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

For the period ended June 30, 2022, purchases and sales of long-term U.S. government securities were as follows:

Whether a restricted security is illiquid is determined pursuant to guidelines established by the Trustees. Not all restricted securities are considered illiquid. The illiquid restricted securities held as of June 30, 2022 are identified below.

London Interbank Offering Rate (“LIBOR”) Risk: Certain investments held by the Fund may pay or receive interest at floating rates based on LIBOR. The United Kingdom Financial Conduct Authority has announced that it will stop compelling banks to submit rates for many LIBOR settings after December 31, 2021, and for certain other commonly-used U.S. dollar LIBOR settings after June 30, 2023. The transition away from LIBOR could result in increased volatility and uncertainty in markets tied to LIBOR. The elimination of LIBOR may adversely affect the market for, or value of, specific securities or payments linked to LIBOR rates, the availability or terms of borrowing or refinancing, or the effectiveness of hedging strategies. To the extent that the Fund’s investments have maturities which extend beyond 2023, the applicable interest rates might be subject to change if there is a transition from the LIBOR reference rate. These risks may also apply with respect to changes in connection with other interbank offering rates (e.g., Euribor or SOFR) and a wide range of other index levels, rates and values that are treated as “benchmarks” and are the subject of recent regulatory reform.

Mortgage-Related and Other Asset-Backed Securities Risk: The Fund may invest in a variety of mortgage-related and other asset-backed securities, which are subject to certain additional risks. Generally, rising interest rates tend to extend the duration of fixed rate mortgage-related securities, making them more sensitive to changes in interest rates. As a result, in a period of rising interest rates, investments in mortgage-related securities may cause the Fund to exhibit additional volatility. This is known as extension risk. In addition, adjustable and fixed rate mortgage-related securities are subject to call risk. When interest rates decline, borrowers may pay off their mortgages sooner than expected. This can reduce the returns of the Fund because the Fund will have to reinvest that money at the lower prevailing interest rates. If the Fund purchases mortgage-backed or asset-backed securities that are subordinated to other interests in the same mortgage pool, the Fund may receive payments only after the pool’s obligations to other investors have been satisfied. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may limit substantially the pool’s ability to make payments of principal or interest to the Fund as a holder of such subordinated securities, reducing the values of those securities or in some cases rendering them worthless. An unexpectedly high or low rate of prepayments on a pool’s underlying mortgages may have a similar effect on subordinated securities. A mortgage pool may issue securities subject to various levels of subordination. The risk of non-payment affects securities at each level, although the risk is greater in the case of more highly subordinated securities. The Fund’s investments in other asset-backed securities are subject to risks similar to those associated with mortgage-related securities, as well as additional risks associated with the nature of the assets and the servicing of those assets.

price between those dates. As a result, if the Fund makes short sales in securities that increase in value, it will likely underperform similar funds that do not make short sales in securities they do not own. There can be no assurance that the Fund will be able to close out a short sale position at any particular time or at an acceptable price. Although the Fund’s gain is limited to the amount at which it sold a security short, its potential loss is limited only by the maximum attainable price of the security, less the price at which the security was sold. The Fund may also pay transaction costs and borrowing fees in connection with short sales.

The current outbreak of the novel strain of coronavirus, COVID-19, has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain the spread of COVID-19 have resulted in travel restrictions, closed international borders, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, defaults and other significant economic impacts, all of which have disrupted global economic activity across many industries and may exacerbate other pre-existing political, social and economic risks, locally or globally. The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Fund’s performance.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $464,974,852. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had multiple shareholder accounts which are affiliated with the Manager representing ownership in excess of 70% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

As a shareholder of the AZL Gateway Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Shares			Value
Common Stocks+ (95.3%):
Aerospace & Defense (1.5%):
	2,774	Boeing Co. (The)*	$	379,261
	704	HEICO Corp.		92,309
	1,895	L3harris Technologies, Inc.		458,022
	8,930	Raytheon Technologies Corp.		858,262

				1,787,854

Air Freight & Logistics (0.6%):
	568	GXO Logistics, Inc.*		24,577
	3,725	United Parcel Service, Inc., Class B		679,962
	629	XPO Logistics, Inc.*		30,293

				734,832

Airlines (0.2%):
	2,485	Alaska Air Group, Inc.*		99,524
	11,608	JetBlue Airways Corp.*		97,159
	2,475	United Airlines Holdings, Inc.*		87,665

				284,348

Auto Components (0.1%):
	659	Autoliv, Inc.		47,165
	1,865	Goodyear Tire & Rubber Co. (The)*		19,974

				67,139

Automobiles (2.1%):
	18,908	Ford Motor Co.		210,446
	7,744	General Motors Co.*		245,950
	2,877	Tesla, Inc.*		1,937,429

				2,393,825

Banks (3.2%):
	4,184	Associated Banc-Corp.		76,400
	39,556	Bank of America Corp.		1,231,378
	13,546	JPMorgan Chase & Co.		1,525,415
	410	Signature Bank		73,476
	21,177	Wells Fargo & Co.		829,503

				3,736,172

Beverages (1.8%):
	9,881	Keurig Dr Pepper, Inc.		349,689
	3,936	Monster Beverage Corp.*		364,867
	8,019	PepsiCo, Inc.		1,336,446

				2,051,002

Biotechnology (2.3%):
	6,796	AbbVie, Inc.		1,040,875
	354	Alnylam Pharmaceuticals, Inc.*		51,631
	2,444	Amgen, Inc.		594,625
	915	Biogen, Inc.*		186,605
	426	BioMarin Pharmaceutical, Inc.*		35,303
	817	Exact Sciences Corp.*		32,182
	1,609	Ionis Pharmaceuticals, Inc.*		59,565
	1,343	Moderna, Inc.*		191,848
	451	Seagen, Inc.*		79,800
	1,356	Vertex Pharmaceuticals, Inc.*		382,107

				2,654,541

Building Products (0.3%):
	7,893	Carrier Global Corp.		281,464
	357	Lennox International, Inc.		73,753

				355,217


Shares			Value
Common Stocks+, continued
Capital Markets (2.3%):
	740	Blackstone, Inc., Class A	$	67,510
	6,501	Charles Schwab Corp. (The)		410,733
	460	FactSet Research Systems, Inc.		176,902
	3,972	Intercontinental Exchange, Inc.		373,527
	2,482	KKR & Co., Inc., Class A		114,892
	7,631	Morgan Stanley		580,414
	734	MSCI, Inc.		302,518
	1,831	S&P Global, Inc.		617,157

				2,643,653

Chemicals (1.6%):
	1,367	Ashland Global Holdings, Inc.		140,869
	1,718	Celanese Corp.		202,054
	5,402	Corteva, Inc.		292,464
	5,784	Dow, Inc.		298,512
	2,103	Eastman Chemical Co.		188,786
	559	Ingevity Corp.*		35,295
	2,708	LyondellBasell Industries NV, Class A		236,842
	2,006	Mosaic Co. (The)		94,744
	609	Nutrien, Ltd.		48,531
	1,854	Olin Corp.		85,803
	1,577	RPM International, Inc.		124,142
	3,199	Valvoline, Inc.		92,227

				1,840,269

Commercial Services & Supplies (0.9%):
	1,988	Copart, Inc.*		216,016
	1,632	Waste Connections, Inc.		202,303
	3,932	Waste Management, Inc.		601,517

				1,019,836

Communications Equipment (0.8%):
	465	Ciena Corp.*		21,251
	20,657	Cisco Systems, Inc.		880,814

				902,065

Construction Materials (0.2%):
	785	Martin Marietta Materials, Inc.		234,903

Consumer Finance (0.5%):
	2,123	Ally Financial, Inc.		71,142
	3,678	Discover Financial Services		347,865
	7,093	Synchrony Financial		195,909

				614,916

Containers & Packaging (0.5%):
	1,210	Avery Dennison Corp.		195,863
	1,000	Crown Holdings, Inc.		92,170
	1,880	Sonoco Products Co.		107,235
	3,371	Westrock Co.		134,301

				529,569

Distributors (0.2%):
	1,753	Genuine Parts Co.		233,149

Diversified Consumer Services (0.1%):
	1,149	Service Corp. International		79,419

Diversified Financial Services (1.9%):
	7,505	Berkshire Hathaway, Inc., Class B*		2,049,015
	2,150	Voya Financial, Inc.		127,990

				2,177,005


Shares			Value
Common Stocks+, continued
Diversified Telecommunication Services (1.2%):
	5,251	Liberty Global plc, Class C*	$	115,995
	11,761	Lumen Technologies, Inc.		128,312
	23,567	Verizon Communications, Inc.		1,196,025

				1,440,332

Electric Utilities (1.3%):
	5,136	Alliant Energy Corp.		301,021
	7,671	American Electric Power Co., Inc.		735,955
	2,195	Evergy, Inc.		143,224
	5,615	FirstEnergy Corp.		215,560
	2,364	OGE Energy Corp.		91,156

				1,486,916

Electrical Equipment (0.5%):
	3,166	Eaton Corp. plc		398,884
	807	Hubbell, Inc.		144,114

				542,998

Electronic Equipment, Instruments & Components (0.7%):
	1,598	CDW Corp.		251,781
	6,031	Corning, Inc.		190,037
	440	Teledyne Technologies, Inc.*		165,048
	547	Zebra Technologies Corp., Class A*		160,791

				767,657

Energy Equipment & Services (0.5%):
	11,256	Halliburton Co.		352,988
	4,419	Helmerich & Payne, Inc.		190,282

				543,270

Entertainment (1.0%):
	1,339	Live Nation Entertainment, Inc.*		110,574
	1,929	Netflix, Inc.*		337,324
	291	Roku, Inc.*		23,903
	7,682	Walt Disney Co. (The)*		725,181

				1,196,982

Equity Real Estate Investment Trusts (2.5%):
	4,013	American Homes 4 Rent, Class A		142,221
	2,385	American Tower Corp.		609,582
	1,351	Camden Property Trust		181,683
	2,293	CubeSmart		97,957
	2,981	Douglas Emmett, Inc.		66,715
	5,894	Duke Realty Corp.		323,875
	2,308	Equity Lifestyle Properties, Inc.		162,645
	4,178	Healthcare Realty Trust, Inc.		113,642
	6,593	Invitation Homes, Inc.		234,579
	1,058	Kilroy Realty Corp.		55,365
	7,335	Medical Properties Trust, Inc.		112,005
	3,790	National Retail Properties, Inc.		162,970
	7,189	Sabra Health Care REIT, Inc.		100,430
	1,102	Sun Communities, Inc.		175,615
	4,261	UDR, Inc.		196,176
	1,711	WP Carey, Inc.		141,773

				2,877,233

Food & Staples Retailing (1.8%):
	419	Casey’s General Stores, Inc.		77,507
	1,843	Costco Wholesale Corp.		883,313
	5,603	Kroger Co. (The)		265,190
	1,996	US Foods Holding Corp.*		61,237
	6,399	Walmart, Inc.		777,990

				2,065,237


Shares			Value
Common Stocks+, continued
Food Products (1.0%):
	1,028	Bunge, Ltd.	$	93,229
	4,697	Hormel Foods Corp.		222,450
	1,181	Lamb Weston Holdings, Inc.		84,394
	11,225	Mondelez International, Inc., Class A		696,960
	905	Post Holdings, Inc.*		74,527

				1,171,560

Gas Utilities (0.0%^†):
	1,211	UGI Corp.		46,757

Health Care Equipment & Supplies (3.1%):
	7,435	Abbott Laboratories		807,813
	3,827	Baxter International, Inc.		245,808
	8,871	Boston Scientific Corp.*		330,622
	2,741	Danaher Corp.		694,898
	3,594	Edwards Lifesciences Corp.*		341,753
	225	Insulet Corp.*		49,037
	1,734	Intuitive Surgical, Inc.*		348,031
	6,145	Medtronic plc		551,514
	904	STERIS plc		186,360
	405	Teleflex, Inc.		99,569

				3,655,405

Health Care Providers & Services (3.2%):
	7,149	CVS Health Corp.		662,426
	1,346	Elevance Health, Inc.		649,553
	1,416	HCA Healthcare, Inc.		237,973
	268	Molina Healthcare, Inc.*		74,936
	3,775	UnitedHealth Group, Inc.		1,938,953
	1,059	Universal Health Services, Inc., Class B		106,652

				3,670,493

Health Care Technology (0.1%):
	568	Veeva Systems, Inc., Class A*		112,487

Hotels, Restaurants & Leisure (1.5%):
	203	Booking Holdings, Inc.*		355,045
	2,548	Hilton Grand Vacations, Inc.*		91,040
	2,831	Hilton Worldwide Holdings, Inc.		315,487
	3,499	McDonald’s Corp.		863,833
	2,975	Melco Resorts & Entertainment, Ltd., ADR*		17,106
	251	Vail Resorts, Inc.		54,730
	4,003	Wendy’s Co. (The)		75,577

				1,772,818

Household Durables (0.2%):
	38	NVR, Inc.*		152,157
	2,068	Toll Brothers, Inc.		92,233

				244,390

Household Products (1.5%):
	2,072	Clorox Co. (The)		292,110
	10,386	Procter & Gamble Co. (The)		1,493,403

				1,785,513

Industrial Conglomerates (1.3%):
	4,842	3M Co.		626,603
	4,702	General Electric Co.		299,377
	3,436	Honeywell International, Inc.		597,211

				1,523,191


Shares			Value
Common Stocks+, continued
Insurance (2.1%):
	11,168	Aflac, Inc.	$	617,925
	1,031	American Financial Group, Inc.		143,113
	1,463	Aon plc, Class A		394,542
	1,973	Arch Capital Group, Ltd.*		89,752
	3,000	Arthur J. Gallagher & Co.		489,120
	2,628	Brown & Brown, Inc.		153,318
	1,245	Fidelity National Financial, Inc.		46,015
	3,800	Lincoln National Corp.		177,726
	50	Markel Corp.*		64,662
	451	RenaissanceRe Holdings, Ltd.		70,523
	5,359	Unum Group		182,313

				2,429,009

Interactive Media & Services (5.2%):
	521	Alphabet, Inc., Class A*		1,135,394
	1,539	Alphabet, Inc., Class C*		3,366,485
	1,404	Match Group, Inc.*		97,845
	8,259	Meta Platforms, Inc., Class A*		1,331,764
	3,923	Twitter, Inc.*		146,681

				6,078,169

Internet & Direct Marketing Retail (2.9%):
	31,100	Amazon.com, Inc.*		3,303,131
	746	Etsy, Inc.*		54,615
	44	MercadoLibre, Inc.*		28,022

				3,385,768

IT Services (4.3%):
	2,530	Accenture plc, Class A		702,455
	2,382	Automatic Data Processing, Inc.		500,315
	1,024	Black Knight, Inc.*		66,960
	524	Block, Inc.*		32,205
	1,984	DXC Technology Co.*		60,135
	267	EPAM Systems, Inc.*		78,706
	3,402	Fidelity National Information Services, Inc.		311,861
	604	Gartner, Inc.*		146,065
	3,138	Mastercard, Inc., Class A		989,976
	2,660	Paychex, Inc.		302,894
	4,820	PayPal Holdings, Inc.*		336,629
	960	Shopify, Inc., Class A*		29,991
	417	Twilio, Inc., Class A*		34,949
	1,167	VeriSign, Inc.*		195,274
	6,280	Visa, Inc., Class A		1,236,469

				5,024,884

Leisure Products (0.0%^†):
	331	Polaris, Inc.		32,862

Life Sciences Tools & Services (1.0%):
	2,514	Avantor, Inc.*		78,185
	499	ICON plc*		108,133
	813	Illumina, Inc.*		149,885
	1,607	Thermo Fisher Scientific, Inc.		873,051

				1,209,254

Machinery (1.4%):
	2,656	Caterpillar, Inc.		474,787
	1,450	Cummins, Inc.		280,618
	1,268	Deere & Co.		379,728
	1,511	Parker-Hannifin Corp.		371,782


Shares			Value
Common Stocks+, continued
Machinery, continued
	1,935	Pentair plc	$	88,565
	1,101	Timken Co.		58,408

				1,653,888

Media (0.8%):
	20,513	Comcast Corp., Class A		804,930
	582	Liberty Broadband Corp., Class C*		67,303
	8,669	Sirius XM Holdings, Inc.		53,141

				925,374

Metals & Mining (0.2%):
	491	Alcoa Corp.		22,380
	1,912	Southern Copper Corp.		95,237
	1,677	Steel Dynamics, Inc.		110,933
	219	Worthington Industries, Inc.		9,658

				238,208

Mortgage Real Estate Investment Trusts (0.0%^†):
	8,511	Annaly Capital Management, Inc.		50,300

Multiline Retail (0.4%):
	1,770	Nordstrom, Inc.		37,400
	2,769	Target Corp.		391,066

				428,466

Multi-Utilities (1.8%):
	5,247	Ameren Corp.		474,119
	6,544	Consolidated Edison, Inc.		622,335
	7,365	Public Service Enterprise Group, Inc.		466,057
	5,208	WEC Energy Group, Inc.		524,133

				2,086,644

Oil, Gas & Consumable Fuels (3.8%):
	5,525	Cenovus Energy, Inc.		105,030
	1,015	Cheniere Energy, Inc.		135,025
	7,898	Chevron Corp.		1,143,472
	7,347	ConocoPhillips		659,834
	1,155	Continental Resources, Inc.		75,479
	1,862	Enbridge, Inc.		78,688
	17,508	Exxon Mobil Corp.		1,499,385
	978	HF Sinclair Corp.		44,167
	4,696	Occidental Petroleum Corp.		276,501
	4,141	ONEOK, Inc.		229,826
	4,051	Suncor Energy, Inc.		142,069
	603	Targa Resources Corp.		35,981

				4,425,457

Personal Products (0.1%):
	1,146	BellRing Brands, Inc.*		28,524
	2,072	Herbalife Nutrition, Ltd.*		42,372

				70,896

Pharmaceuticals (4.8%):
	10,171	Bristol-Myers Squibb Co.		783,167
	3,027	Eli Lilly & Co.		981,444
	248	Jazz Pharmaceuticals plc*		38,690
	9,843	Johnson & Johnson		1,747,231
	9,639	Merck & Co., Inc.		878,788
	22,170	Pfizer, Inc.		1,162,373

				5,591,693


Shares			Value
Common Stocks+, continued
Professional Services (0.3%):
	1,364	Booz Allen Hamilton Holding Corp.	$	123,251
	1,542	CoStar Group, Inc.*		93,152
	1,006	ManpowerGroup, Inc.		76,869
	1,162	TransUnion		92,948

				386,220

Real Estate Management & Development (0.0%^†):
	865	Zillow Group, Inc., Class C*		27,464

Road & Rail (0.9%):
	1,878	Canadian Pacific Railway, Ltd.		131,160
	14,499	CSX Corp.		421,341
	789	J.B. Hunt Transport Services, Inc.		124,244
	809	Lyft, Inc., Class A*		10,743
	1,028	Old Dominion Freight Line, Inc.		263,456
	3,038	Uber Technologies, Inc.*		62,157

				1,013,101

Semiconductors & Semiconductor Equipment (4.9%):
	6,287	Advanced Micro Devices, Inc.*		480,767
	2,761	Analog Devices, Inc.		403,354
	4,182	Applied Materials, Inc.		380,478
	1,666	Broadcom, Inc.		809,359
	17,038	Intel Corp.		637,392
	1,307	Marvell Technology, Inc.		56,894
	4,899	Micron Technology, Inc.		270,817
	8,930	NVIDIA Corp.		1,353,699
	4,366	Qualcomm, Inc.		557,713
	1,753	Teradyne, Inc.		156,981
	4,189	Texas Instruments, Inc.		643,640

				5,751,094

Software (8.6%):
	1,959	Adobe, Inc.*		717,112
	2,176	Cadence Design Systems, Inc.*		326,465
	1,350	Ceridian HCM Holding, Inc.*		63,558
	26,605	Microsoft Corp.		6,832,962
	7,052	Oracle Corp.		492,723
	207	Palo Alto Networks, Inc.*		102,246
	4,061	Salesforce, Inc.*		670,227
	1,017	ServiceNow, Inc.*		483,604
	859	SS&C Technologies Holdings, Inc.		49,882
	568	VMware, Inc., Class A		64,741
	673	Workday, Inc., Class A*		93,937
	611	Zoom Video Communications, Inc., Class A*		65,970

				9,963,427


Shares			Value
Common Stocks+, continued
Specialty Retail (1.7%):
	2,912	American Eagle Outfitters, Inc.	$	32,556
	301	Burlington Stores, Inc.*		41,005
	326	Dick’s Sporting Goods, Inc.		24,571
	1,829	Foot Locker, Inc.		46,182
	4,378	Home Depot, Inc. (The)		1,200,754
	3,697	Lowe’s Cos., Inc.		645,755
	287	Williams-Sonoma, Inc.		31,843

				2,022,666

Technology Hardware, Storage & Peripherals (6.5%):
	55,167	Apple, Inc.		7,542,432
	1,086	Dell Technologies, Inc., Class C		50,184

				7,592,616

Textiles, Apparel & Luxury Goods (0.5%):
	342	Lululemon Athletica, Inc.*		93,233
	5,273	NIKE, Inc., Class B		538,900

				632,133

Tobacco (0.5%):
	13,854	Altria Group, Inc.		578,682

Trading Companies & Distributors (0.1%):
	675	GATX Corp.		63,558

	Total Common Stocks (Cost $53,568,488)			110,904,786


Contracts			Value
Purchased Options (1.6%)^:
	Total Purchased Options (Cost $1,667,047)			1,905,455


Shares			Value
Unaffiliated Investment Company (4.1%):
Money Markets (4.1%):
	4,773,644	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(a)		4,773,644

	Total Unaffiliated Investment Company (Cost $4,773,644)			4,773,644

	Total Investment Securities (Cost $60,009,179) — 101.0%			117,583,885
	Net other assets (liabilities) — (1.0)%			(1,215,519	)

	Net Assets — 100.0%		$	116,368,366

At June 30, 2022, the Fund’s exchange traded options purchased were as follows:

Balances Reported in the Statement of Assets and Liabilities for Options Written

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	60,009,179

Investment securities, at value	$	117,583,885
Cash		219,456
Interest and dividends receivable		72,016
Receivable for investments sold		173,850
Reclaims receivable		1,423
Prepaid expenses		364

Total Assets		118,050,994

Liabilities:
Payable for capital shares redeemed		71,441
Written Options (Premiums received $2,898,825)		1,487,740
Manager fees payable		77,933
Administration fees payable		16,548
Distribution fees payable		24,354
Custodian fees payable		658
Administrative and compliance services fees payable		104
Transfer agent fees payable		727
Trustee fees payable		878
Other accrued liabilities		2,245

Total Liabilities		1,682,628

Net Assets	$	116,368,366

Net Assets Consist of:
Paid in capital	$	63,877,093
Total distributable earnings		52,491,273

Net Assets	$	116,368,366

Shares of beneficial interest (unlimited number of shares authorized, no par value)		8,255,797
Net Asset Value (offering and redemption price per share)	$	14.10

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Dividends	$	975,593
Interest		333
Foreign withholding tax		(607	)

Total Investment Income		975,319

Expenses:
Management fees		515,735
Administration fees		19,159
Distribution fees		161,167
Custodian fees		3,480
Administrative and compliance services fees		791
Transfer agent fees		2,686
Trustee fees		3,124
Professional fees		2,528
Shareholder reports		1,811
Other expenses		1,559

Total expenses		712,040

Net Investment Income/(Loss)		263,279

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities and foreign currencies		6,537,018
Net realized gains/(losses) on written options contracts		6,758,050
Change in net unrealized appreciation/depreciation on securities and foreign currencies		(32,424,436	)
Change in net unrealized appreciation/depreciation on written options contracts		1,579,570

Net realized and Change in net unrealized gains/losses on investments		(17,549,798	)

Change in Net Assets Resulting From Operations	$	(17,286,519	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services — Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL Gateway Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

The Fund may purchase or write put and call options on a security or an index of securities. During the period ended June 30, 2022, the Fund purchased and wrote call and put options to increase or decrease its exposure to underlying instruments (including equity risk, interest rate risk and/or foreign currency exchange rate risk) and/or, in the case of options written, to generate gains from options premiums.

Purchased Options Contracts — The Fund pays a premium which is included in “Investments, at value” on the Statement of Assets and Liabilities and marked to market to reflect the current value of the option when purchasing options. Premiums paid for purchasing options that expire are treated as realized losses. When a put option is exercised or closed, premiums paid for purchasing options are offset against proceeds to determine the realized gain/loss on the transaction. The Fund bears the risk of loss of the premium and change in value should the counterparty not perform under the contract.

Written Options Contracts — The Fund receives a premium which is recorded as a liability and is subsequently adjusted to the current value of the options written when writing options. Premiums received from writing options that expire are treated as realized gains. Premiums received from writing options that are either exercised or closed are offset against the proceeds received or the amount paid on the transaction to determine realized gains or losses. The risk associated with writing an option is that the Fund bears the market risk of an unfavorable change in the price of an underlying asset and is required to buy or sell an underlying asset under the contractual terms of the option at a price different from the current value. For the period ended June 30, 2020, the monthly average notional amount for written options contracts was $1.3 million. Realized gains and losses are reported as “Net realized gains/(losses) on written options contracts” on the Statement of Operations.

The following is a summary of the values of derivative instruments on the Fund’s Statement of Assets and Liabilities, categorized by risk exposure, as of June 30, 2022:

The following is a summary of the effect of derivative instruments on the Statement of Operations, categorized by risk exposure, for the period ended June 30, 2022:

The Manager provides investment advisory and management services for the Fund. The Manager has retained an independent money management organization (the “Subadviser”), to make investment decisions on behalf of the Fund. Pursuant to a subadvisory agreement with Gateway Investment Advisers, LLC (“Gateway”), Gateway provides investment advisory services as the Subadviser for the Fund subject to the general supervision of the Trustees and the Manager. The Manager is entitled to a fee, computed daily and paid monthly, based on the average daily net assets of the Fund. Expenses incurred by the Fund for investment advisory and management services are reflected on the Statement of Operations as “Management fees.” For its services, the Subadviser is entitled to a fee payable by the Manager. The Manager has contractually agreed to waive fees and reimburse the Fund to limit the annual expenses, excluding interest expense (e.g., cash overdraft fees), taxes, brokerage commissions, acquired fund fees and expenses, other expenditures that are capitalized in accordance with U.S. GAAP and other extraordinary expenses not incurred in the ordinary course of the Fund’s business, based on the daily net assets of the Fund, through April 30, 2023.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

Options are generally valued at the average of the closing bid and ask quotations on the principal exchange on which the option is traded, which are then typically categorized as Level 1 in the fair value hierarchy. For options where market quotations are not readily available, fair value procedures as described below may be applied.

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

The current outbreak of the novel strain of coronavirus, COVID-19, has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain the spread of COVID-19 have resulted in travel restrictions, closed international borders, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, defaults and other significant economic impacts, all of which have disrupted global economic activity across many industries and may exacerbate other pre-existing political, social and economic risks, locally or globally. The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Fund’s performance.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $52,571,055. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

During the year ended December 31, 2021, the Fund utilized $729,370 in CLCFs to offset capital gains.

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had multiple shareholder accounts which are affiliated with the Manager representing ownership in excess of 80% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

As a shareholder of the AZL Government Money Market Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Principal Amount			Value

U.S. Government Agency Mortgages (31.1%):
Federal Home Loan Bank (17.8%)
$	13,200,000	0.84%, 7/8/22(a)	$	13,197,844
	3,375,000	0.83%, 7/15/22(a)		3,373,911
	10,670,000	1.50%(SOFR+1bps), 8/2/22		10,670,188
	2,295,000	1.52%(SOFR+1bps), 8/4/22		2,295,000
	3,940,000	1.60%, 8/5/22(a)		3,933,871
	4,755,000	1.51%(SOFR-–), 8/19/22		4,755,000
	10,880,000	1.24%, 8/24/22(a)		10,859,763
	2,575,000	1.52%(SOFR+1bps), 9/6/22		2,575,000
	10,075,000	1.94%, 9/20/22(a)		10,031,136
	1,865,000	1.10%, 10/3/22(a)		1,859,692
	5,175,000	1.51%(SOFR+1bps), 10/21/22		5,175,000
	5,025,000	1.52%(SOFR+2bps), 12/16/22		5,025,000
	5,000,000	1.57%(SOFR+6bps), 2/3/23		5,000,000
	3,835,000	2.08%, 2/13/23, Callable 1/13/23 @ 100.00		3,835,000
	7,820,000	1.52%(SOFR+2bps), 3/2/23		7,820,000
	800,000	1.53%(SOFR+2bps), 5/2/23		800,000

				91,206,405

Federal Farm Credit Bank (12.6%)
	1,475,000	1.70%(SOFR+19bps), 7/14/22		1,475,000
	4,065,000	1.77%(FEDL01+18bps), 7/20/22		4,064,979
	6,150,000	0.07%, 8/10/22		6,149,967
	1,655,000	1.21%, 9/1/22(a)		1,651,551
	2,230,000	1.60%(SOFR+10bps), 9/2/22		2,230,000
	1,845,000	1.59%(SOFR+9bps), 10/7/22		1,845,000
	2,250,000	1.59%(SOFR+8bps), 10/14/22		2,250,000
	1,970,000	0.40%, 11/1/22(a)		1,967,308
	2,705,000	1.58%(SOFR+8bps), 11/3/22		2,705,000
	2,535,000	1.31%, 11/14/22(a)		2,522,550
	7,980,000	1.53%(SOFR+2bps), 11/28/22		7,979,917
	4,150,000	1.54%(SOFR+3bps), 1/12/23		4,149,888
	1,070,000	1.57%(SOFR+6bps), 1/20/23		1,070,000
	1,290,000	1.53%(SOFR+4bps), 3/10/23		1,290,135
	3,240,000	1.53%(SOFR+2bps), 5/16/23		3,239,931
	710,000	2.26%, 6/7/23		709,946
	370,000	1.55%(SOFR+4bps), 7/12/23		369,981
	1,420,000	1.54%(SOFR+3bps), 7/25/23		1,419,954
	2,740,000	1.56%(SOFR+5bps), 8/22/23		2,740,000
	1,870,000	1.56%(SOFR+5bps), 9/28/23		1,870,000
	2,955,000	1.55%(SOFR+5bps), 10/16/23		2,955,000
	3,435,000	1.57%(SOFR+6bps), 11/22/23		3,435,000
	580,000	1.57%(SOFR+6bps), 1/10/24		580,000
	3,825,000	1.55%(SOFR+5bps), 2/20/24		3,825,000
	2,425,000	1.56%(SOFR+5bps), 5/9/24		2,425,000

				64,921,107

Federal Home Loan Mortgage Corp. (0.7%)
	2,000,000	0.08%, 7/25/22		2,000,058
	1,535,000	1.57%(SOFR+7bps), 11/10/22		1,535,000

				3,535,058

	Total U.S. Government Agency Mortgages (Cost $159,662,570)			159,662,570

U.S. Treasury Obligations (21.8%):
U.S. Treasury Bills (16.5%)
	11,395,000	0.52%, 7/5/22(a)		11,394,348
	3,260,000	0.22%, 7/7/22(a)		3,259,881
	1,065,000	1.01%, 7/12/22(a)		1,064,675
	6,440,000	1.01%, 7/19/22(a)		6,436,780


Principal Amount			Value

U.S. Treasury Obligations, continued
U.S. Treasury Bills, continued
$	1,230,000	0.39%, 7/28/22(a)	$	1,229,650
	5,855,000	0.82%, 8/2/22(a)		5,850,810
	16,000,000	1.12%, 8/4/22(a)		15,983,378
	1,385,000	0.78%, 8/18/22(a)		1,383,578
	3,155,000	0.68%, 9/1/22(a)		3,151,360
	19,096,800	0.72%, 9/8/22(a)		19,073,137
	1,870,000	0.89%, 9/22/22(a)		1,866,249
	1,585,000	1.07%, 9/29/22(a)		1,580,839
	4,191,700	1.13%, 10/6/22(a)		4,179,163
	3,625,000	2.57%, 12/29/22(a)		3,586,119
	2,345,000	0.64%, 1/26/23(a)		2,336,423
	2,035,000	1.17%, 2/23/23(a)		2,019,660
	575,000	2.16%, 5/18/23(a)		564,233

				84,960,283

U.S. Treasury Notes (5.3%)
	2,000,000	1.35%, 12/15/22		2,002,478
	5,000,000	1.80%(USBMMY3M+5bps), 1/31/23		5,000,193
	4,260,000	1.31%, 2/28/23		4,296,673
	9,565,000	2.02%, 2/28/23		9,446,336
	635,000	2.12%, 4/30/23		624,606
	1,260,000	2.19%, 5/15/23		1,255,246
	4,660,000	1.79%(USBMMY3M+4bps), 10/31/23		4,660,000

				27,285,532

	Total U.S. Treasury Obligations (Cost $112,245,815)			112,245,815

Repurchase Agreements (47.1%):
	15,000,000	Bank of Montreal, 1.48%, 7/1/22, (Purchased on 6/30/22, proceeds at maturity $15,000,617, Collateralized by U.S. Treasury Obligations, 0.00%, 2/15/25 — 8/15/49, fair value of $15,300,000)		15,000,000
	35,000,000	Bank of Nova Scotia, 1.50%, 7/1/22, (Purchased on 6/30/22, proceeds at maturity $35,001,458, Collateralized by U.S. Treasury Obligations, 0.00% —3.25%, 7/14/22 — 6/30/29, fair value of $35,701,568)		35,000,000
	40,000,000	BNP Paribas, 1.55%, 7/1/22, (Purchased on 6/30/22, proceeds at maturity $40,001,722, Collateralized by U.S. Government Agency Obligations, 0.38% — 4.00%, 5/5/23 — 6/1/52, fair value of $40,800,025)		40,000,000
	35,000,000	Citigroup Global Markets, 1.55%, 7/1/22, (Purchased on 6/30/22, proceeds at maturity $35,001,507, Collateralized by U.S. Treasury Note, 0.75%, 11/15/24, fair value of $35,700,082)		35,000,000
	30,000,000	Mitsubishi UFJ Securities USA, Inc., 1.48%, 7/1/22, (Purchased on 6/30/22, proceeds at maturity $30,001,233, Collateralized by U.S. Government Agency Obligations, 2.00% — 6.50%, 8/1/22 — 7/1/56, fair value of $30,900,000)		30,000,000
	30,000,000	Morgan Stanley & Co., 1.55%, 7/1/22, (Purchased on 6/30/22, proceeds at maturity $30,001,292, Collateralized by U.S. Government Agency Obligations, 2.00% — 6.50%, 8/1/22 — 7/1/56, fair value of $30,900,000)		30,000,000
	30,000,000	Natixis, 1.48%, 7/1/22, (Purchased on 6/30/22, proceeds at maturity $30,001,233, Collateralized by U.S. Treasury Obligations, 1.13% — 4.38%, 6/30/24 — 11/15/46, fair value of $30,600,014)		30,000,000


Principal Amount			Value

Repurchase Agreements, continued
$	12,000,000	Toronto Dominion Bank NY, 1.50%, 7/1/22, (Purchased on 6/30/22, proceeds at maturity $12,000,500, Collateralized by U.S. Treasury Note, 3.00%, 6/30/24, fair value of $12,240,053)	$	12,000,000
	15,000,000	Toronto Dominion Bank NY, 1.55%, 7/1/22, (Purchased on 6/30/22, proceeds at maturity $15,000,646, Collateralized by U.S. Government Agency Obligations, 3.50% — 5.00%, 4/1/47 — 6/1/52, fair value of $15,450,001)		15,000,000

	Total Repurchase Agreements (Cost $242,000,000)			242,000,000

	Total Investment Securities (Cost $513,908,385) — 100.0%			513,908,385
	Net other assets (liabilities) — 0.0%^†			(72,307	)

	Net Assets — 100.0%		$	513,836,078

Percentages indicated are based on net assets as of June 30, 2022.

FEDL01—Effective Federal Fund Rate

SOFR—Secured Overnight Financing Rate

USBMMY3M—3 Month Treasury Bill Rate

†	Represents less than 0.05%.

(a)	The rate represents the effective yield at June 30, 2022.

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	271,908,385

Investment securities, at value	$	271,908,385
Repurchase agreements, at value/cost		242,000,000
Cash		212,366
Interest and dividends receivable		214,450
Receivable for capital shares issued		2,887
Receivable from Manager		4,058
Prepaid expenses		1,172

Total Assets		514,343,318

Liabilities:
Payable for investments purchased		2,887
Manager fees payable		332,749
Administration fees payable		50,540
Distribution fees payable		101,445
Custodian fees payable		1,138
Administrative and compliance services fees payable		606
Transfer agent fees payable		1,010
Trustee fees payable		4,659
Other accrued liabilities		12,206

Total Liabilities		507,240

Net Assets	$	513,836,078

Net Assets Consist of:
Paid in capital	$	513,821,001
Total distributable earnings		15,077

Net Assets	$	513,836,078

Shares of beneficial interest (unlimited number of shares authorized, no par value)		513,821,123
Net Asset Value (offering and redemption price per share)	$	1.00

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Interest	$	1,051,206

Total Investment Income		1,051,206

Expenses:
Management fees		834,028
Administration fees		38,526
Distribution fees		595,735
Custodian fees		5,059
Administrative and compliance services fees		3,041
Transfer agent fees		2,921
Trustee fees		12,184
Professional fees		9,960
Shareholder reports		8,067
Other expenses		4,889

Total expenses before reductions		1,514,410
Less Management fees contractually waived		(23,832	)
Less expenses waived/reimbursed by the Manager for minimum daily yield		(495,298	)

Net expenses		995,280

Net Investment Income/(Loss)		55,926

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities		6,075

Net realized and Change in net unrealized gains/losses on investments		6,075

Change in Net Assets Resulting From Operations	$	62,001

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services—Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL Government Money Market Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

The Fund may invest in repurchase agreements with financial institutions such as member banks of the Federal Reserve System or from registered broker/dealers that the adviser deems creditworthy under guidelines approved by the Board, subject to the seller’s agreement to repurchase such securities at a mutually agreed-upon date and price. The repurchase price generally equals the price paid by the Fund plus interest negotiated on the basis of current short-term rates. The seller under a repurchase agreement is required to maintain the value of collateral held pursuant to the agreement at not less than the repurchase price (including accrued interest). Securities subject to repurchase agreements are held by the Fund’s custodian, another qualified sub-custodian, or in the Federal Reserve book-entry system. Master Repurchase Agreements (“MRA”) permit the Fund, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset receivables under the MRA with collateral posted by the counterparty and create one net payment due to or from the Fund. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA counterparty’s bankruptcy or insolvency. Pursuant to the terms of the MRA, the Fund receives securities as collateral with a market value in excess of the repurchase price to be received by the Fund upon the maturity of the transaction. Upon a bankruptcy or insolvency of the MRA counterparty, the Fund would recognize a liability with respect to such excess collateral to reflect the Fund’s obligation under bankruptcy law to return the excess to the counterparty.

Investment transactions are accounted for on trade date. Net realized gains and losses on investments sold are recorded on the basis of identified cost. Interest income is recorded on the accrual basis and includes, where applicable, the amortization of premiums or accretion of discounts.

Dividends from net investment income are declared daily and paid monthly from the Fund. The net realized gains, if any, are declared and paid at least annually by the Fund. The amount of distributions from net investment income and from net realized gains is determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. These “book/tax” differences are either temporary or permanent in nature. To the extent these differences are permanent in nature (e.g., return of capital, net operating loss, reclassification of certain market discounts, gain/loss, paydowns, and distributions), such amounts are reclassified within the composition of net assets based on their federal tax-basis treatment; temporary differences (e.g., wash sales and differing treatment on certain investments) do not require reclassification. Distributions to shareholders that exceed net investment income and net realized gains for tax purposes are reported as distributions of capital.

The Manager provides investment advisory and management services for the Fund. The Manager has retained an independent money management organization (the “Subadviser”), to make investment decisions on behalf of the Fund. Pursuant to a subadvisory agreement with BlackRock Advisors, LLC (“BlackRock Advisors”), BlackRock Advisors provides investment advisory services as the Subadviser for the Fund subject to the general supervision of the Trustees and the Manager. The Manager is entitled to a fee, computed daily and paid monthly, based on the average daily net assets of the Fund. Expenses incurred by the Fund for investment advisory and management services are reflected on the Statement of Operations as “Management fees.” For its services, the Subadviser is entitled to a fee payable by the Manager. The Manager has contractually agreed to waive fees and reimburse the Fund to limit the annual expenses, excluding interest expense (e.g., cash overdraft fees), taxes, brokerage commissions, acquired fund fees and expenses, other expenditures that are capitalized in accordance with U.S. GAAP and other extraordinary expenses not incurred in the ordinary course of the Fund’s business, based on the daily net assets of the Fund, through April 30, 2023.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

The Manager, the Distributor and the Fund have entered into a written agreement to waive, reimburse, or pay Fund expenses to the extent necessary in order to maintain a minimum daily yield for the Fund of 0.00%. The Distributor may waive its Rule 12b-1 fees under this agreement. There is no guarantee the Fund will avoid a negative yield. Such amounts waived, reimbursed, or paid by the Manager and/or the Distributor will be repaid to the Manager and/or the Distributor subject to the following limitations:

The ability of the Manager and/or Distributor to receive such payments could negatively affect the Fund’s future yield. Amounts waived under this agreement during the period ended June 30, 2022 are reflected on the Statement of Operations as “Expenses waived/reimbursed by the Manager for minimum daily yield.”

At June, 30, 2022, the reimbursements of minimum daily yield waivers subject to repayment by the Fund in subsequent years were as follows:

Any amounts contractually waived or reimbursed by the Manager with respect to the annual expense limit in a particular year will be subject to repayment by the Fund to the Manager to the extent that from time to time through the next three fiscal years the repayment will not cause the Fund’s expenses to exceed the lesser of the stated limit at the time of the waiver or the current stated limit. Any amounts recouped by the Manager during the period are reflected on the Statement of Operations as “Recoupment of prior expenses reimbursed by the Manager.”

The Fund, which operates as a government money market fund, is eligible and has elected to use the amortized cost method of valuation pursuant to Rule 2a-7 under the 1940 Act. This involves valuing an instrument at its cost initially and thereafter assuming a constant accretion or amortization to maturity of any discount or premium, respectively, regardless of the impact of fluctuating interest rates on the market value of the instrument. This method may result in periods during which value, as determined by amortized cost, is higher or lower than the price the Fund would receive if it sold the investment.

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

Repurchase Agreement Risk: The Fund may invest in repurchase agreements as a principal strategy. There is a potential for loss to the Fund if the seller defaults and the Fund is delayed or prevented from exercising its rights to dispose of the collateral securities. It is possible the fair value of the collateral securities could decline in value during the period in which the Fund seeks to assert its rights.

The current outbreak of the novel strain of coronavirus, COVID-19, has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain the spread of COVID-19 have resulted in travel restrictions, closed international borders, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, defaults and other significant economic impacts, all of which have disrupted global economic activity across many industries and may exacerbate other pre-existing political, social and economic risks, locally or globally. The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Fund’s performance.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $555,920,994. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had an individual shareholder account which is affiliated with the Manager representing ownership in excess of 90% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

The Fund files complete Schedules of Portfolio Holdings with the Commission each month on Form N-MFP. Schedules of Portfolio Holdings for the Fund are available without charge on the Commission’s website at http://www.sec.gov. The Fund makes portfolio holdings information available to shareholders on its website.

As a shareholder of the AZL International Index Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Shares			Value
Common Stocks (98.4%):
Aerospace & Defense (1.3%):
	55,997	Airbus SE	$	5,497,439
	296,205	BAE Systems plc		2,995,349
	2,600	Dassault Aviation SA		405,825
	2,648	Elbit Systems, Ltd.		607,403
	8,611	Kongsberg Gruppen ASA		309,956
	5,176	MTU Aero Engines AG		942,065
	811,907	Rolls-Royce Holdings plc*		820,955
	32,758	Safran SA		3,276,554
	151,200	Singapore Technologies Engineering, Ltd.		444,977
	10,114	Thales SA		1,240,471

				16,540,994

Air Freight & Logistics (0.3%):
	94,643	Deutsche Post AG		3,545,327
	29,500	SG Holdings Co., Ltd.		498,133
	30,300	Yamato Holdings Co., Ltd.		484,318

				4,527,778

Airlines (0.1%):
	15,100	ANA Holdings, Inc.*		278,446
	54,268	Deutsche Lufthansa AG*^		316,467
	15,670	Japan Airlines Co., Ltd.*		274,578
	83,673	Qantas Airways, Ltd.*		258,338
	132,250	Singapore Airlines, Ltd.*		486,275

				1,614,104

Auto Components (0.7%):
	15,300	Aisin Sieki Co., Ltd.		474,110
	53,700	Bridgestone Corp.^		1,960,714
	64,140	Cie Generale des Etablissements Michelin SCA		1,763,417
	10,683	Continental AG		744,359
	41,500	Denso Corp.		2,207,789
	10,300	Koito Manufacturing Co., Ltd.		327,255
	65,900	Sumitomo Electric Industries, Ltd.		728,926
	14,300	Toyota Industries Corp.		886,518
	21,158	Valeo SA		414,064

				9,507,152

Automobiles (2.8%):
	31,903	Bayerische Motoren Werke AG (BMW)		2,455,770
	76,265	Daimler AG, Registered Shares		4,412,818
	11,968	Ferrari NV		2,207,075
	155,500	Honda Motor Co., Ltd.		3,762,029
	57,400	Isuzu Motors, Ltd.		632,948
	55,200	Mazda Motor Corp.		452,101
	225,300	Nissan Motor Co., Ltd.		878,283
	17,987	Renault SA*		455,147
	108,841	Stellantis NV		1,355,270
	102,332	Stellantis NV		1,281,570
	59,500	Subaru Corp.		1,058,644
	36,100	Suzuki Motor Corp.		1,135,965
	1,012,230	Toyota Motor Corp.		15,591,350
	2,783	Volkswagen AG		507,113
	57,386	Volvo Car AB, Class B*^		381,215
	29,100	Yamaha Motor Co., Ltd.		533,731

				37,101,029

Banks (8.8%):
	39,378	ABN AMRO Group NV		442,652
	269,268	Australia & New Zealand Banking Group, Ltd.		4,096,000


Shares			Value
Common Stocks, continued
Banks, continued
	639,153	Banco Bilbao Vizcaya Argentaria SA	$	2,900,497
	1,661,618	Banco Santander SA		4,685,015
	114,343	Bank Hapoalim BM		961,693
	143,079	Bank Leumi Le-Israel BM		1,281,328
	1,608,313	Barclays plc		3,010,499
	106,518	BNP Paribas SA^		5,070,913
	357,500	BOC Hong Kong Holdings, Ltd.		1,415,008
	433,539	CaixaBank SA		1,508,479
	50,300	Chiba Bank, Ltd. (The)		275,021
	94,893	Commerzbank AG*		664,775
	162,818	Commonwealth Bank of Australia		10,161,170
	114,300	Concordia Financial Group, Ltd.		396,160
	119,319	Credit Agricole SA		1,092,864
	67,020	Danske Bank A/S		950,029
	172,200	DBS Group Holdings, Ltd.		3,686,634
	89,278	DNB Bank ASA		1,607,472
	31,508	Erste Group Bank AG		800,233
	58,168	Finecobank Banca Fineco SpA^		701,100
	74,400	Hang Seng Bank, Ltd.		1,314,571
	1,931,458	HSBC Holdings plc		12,598,371
	374,413	ING Groep NV		3,715,343
	1,564,979	Intesa Sanpaolo SpA		2,942,041
	117,795	Isreal Discount Bank		617,174
	39,400	Japan Post Bank Co., Ltd.		306,494
	24,035	KBC Group NV		1,349,957
	6,745,798	Lloyds Banking Group plc		3,478,983
	57,465	Mediobanca SpA		500,166
	1,137,500	Mitsubishi UFJ Financial Group, Inc.		6,087,084
	12,974	Mizrahi Tefahot Bank, Ltd.		431,998
	232,063	Mizuho Financial Group, Inc.		2,639,239
	307,894	National Australia Bank, Ltd.		5,821,618
	542,583	Natwest Group plc		1,443,113
	311,896	Nordea Bank AB		2,748,258
	329,799	Oversea-Chinese Banking Corp., Ltd.		2,708,621
	198,987	Resona Holdings, Inc.		745,589
	40,300	Shizuoka Bank, Ltd. (The)		242,178
	156,793	Skandinaviska Enskilda Banken AB, Class A		1,541,504
	76,585	Societe Generale		1,679,384
	245,055	Standard Chartered plc		1,847,360
	123,669	Sumitomo Mitsui Financial Group, Inc.		3,673,387
	32,503	Sumitomo Mitsui Trust Holdings, Inc.		1,001,574
	136,334	Svenska Handelsbanken AB, Class A		1,166,739
	84,980	Swedbank AB, Class A		1,075,747
	203,682	Unicredit SpA		1,952,823
	114,273	United Overseas Bank, Ltd.		2,163,893
	333,022	Westpac Banking Corp.		4,483,942

				115,984,693

Beverages (2.2%):
	82,971	Anheuser-Busch InBev NV		4,475,027
	43,700	Asahi Breweries, Ltd.		1,432,646
	159,300	Budweiser Brewing Co. APAC, Ltd.		477,808
	9,701	Carlsberg A/S, Class B		1,237,667
	19,778	Coca-Cola European Partners plc		1,015,106
	18,675	Coca-Cola HBC AG		414,589
	47,617	David Campari-Milano NV		502,695
	220,442	Diageo plc		9,508,648
	9,708	Heineken Holding NV		709,977


Shares			Value
Common Stocks, continued
Beverages, continued
	24,673	Heineken NV	$	2,259,272
	4,600	ITO EN, Ltd.		205,996
	80,200	Kirin Holdings Co., Ltd.		1,264,157
	19,868	Pernod Ricard SA		3,679,739
	2,253	Remy Cointreau SA		396,711
	12,700	Suntory Beverage & Food, Ltd.		480,452
	69,034	Treasury Wine Estates, Ltd.		540,367

				28,600,857

Biotechnology (1.0%):
	4,510	Argenx SE*		1,701,909
	45,969	CSL, Ltd.		8,539,541
	6,376	Genmab A/S*		2,068,527
	26,848	Grifols SA*		507,765
	16,266	Swedish Orphan Biovitrum AB*		352,233

				13,169,975

Building Products (1.0%):
	18,700	AGC, Inc.^		658,073
	95,391	ASSA Abloy AB, Class B		2,042,470
	47,806	Cie de Saint-Gobain		2,076,322
	23,700	Daikin Industries, Ltd.		3,804,309
	3,497	Geberit AG, Registered Shares		1,682,236
	14,486	Kingspan Group plc		871,347
	28,700	Lixil Corp.		537,939
	145,943	Nibe Industrier AB, Class B		1,097,731
	817	ROCKWOOL A/S, Class B		184,742
	14,700	TOTO, Ltd.		486,003
	160,000	Xinyi Glass Holdings, Ltd.		385,122

				13,826,294

Capital Markets (2.7%):
	91,579	3i Group plc		1,236,989
	6,085	Amundi SA		336,793
	18,856	ASX, Ltd.		1,063,950
	247,697	Credit Suisse Group AG		1,410,613
	136,800	Daiwa Securities Group, Inc.		611,375
	195,137	Deutsche Bank AG		1,700,089
	18,296	Deutsche Boerse AG		3,059,649
	28,000	EQT AB		582,370
	8,637	Euronext NV		707,557
	5,295	Futu Holdings, Ltd., ADR*		276,452
	32,892	Hargreaves Lansdown plc		315,723
	115,093	Hong Kong Exchanges & Clearing, Ltd.		5,745,376
	49,100	Japan Exchange Group, Inc.		709,216
	20,509	Julius Baer Group, Ltd.		947,668
	31,215	London Stock Exchange Group plc		2,901,226
	35,098	Macquarie Group, Ltd.		3,988,132
	280,300	Nomura Holdings, Inc.		1,025,373
	2,198	Partners Group Holding AG		1,983,140
	21,790	SBI Holdings, Inc.		426,792
	13,061	Schroders plc		425,215
	73,500	Singapore Exchange, Ltd.		501,150
	52,207	St. James Place plc		701,539
	337,815	UBS Group AG		5,453,916

				36,110,303

Chemicals (3.1%):
	49,892	Air Liquide SA		6,742,534
	17,296	Akzo Nobel NV		1,142,561


Shares			Value
Common Stocks, continued
Chemicals, continued
	5,830	Arkema SA	$	525,338
	121,500	Asahi Kasei Corp.		928,651
	88,270	BASF SE		3,840,621
	10,004	Christian Hansen Holding A/S		729,982
	21,010	Clariant AG*		400,656
	18,813	Covestro AG		650,111
	13,801	Croda International plc		1,088,168
	671	EMS-Chemie Holding AG		499,967
	19,386	Evonik Industries AG		413,841
	887	Givaudan SA, Registered Shares^		3,135,339
	64,507	ICL Group, Ltd.		589,511
	17,673	Johnson Matthey plc		414,687
	17,200	JSR Corp.		446,777
	16,579	Koninklijke DSM NV		2,394,623
	122,000	Mitsubishi Chemical Holdings Corp.		661,531
	19,400	Mitsui Chemicals, Inc.		413,685
	74,000	Nippon Paint Holdings Co., Ltd.^		552,229
	13,900	Nippon Sanso Holdings Corp.		221,803
	12,000	Nissan Chemical Corp.		553,537
	13,300	Nitto Denko Corp.		861,630
	19,390	Novozymes A/S, Class B		1,167,806
	10,146	OCI NV		334,515
	40,418	Orica, Ltd.		439,049
	35,500	Shin-Etsu Chemical Co., Ltd.		4,008,168
	13,777	Sika AG		3,178,788
	6,954	Solvay SA		564,094
	138,500	Sumitomo Chemical Co., Ltd.		540,750
	12,772	Symrise AG		1,389,774
	133,000	Toray Industries, Inc.		746,820
	23,300	Tosoh Corp.		289,622
	19,106	Umicore SA		667,753
	15,521	Yara International ASA		651,650

				41,186,571

Commercial Services & Supplies (0.3%):
	133,473	Brambles, Ltd.		985,728
	22,100	Dai Nippon Printing Co., Ltd.		477,003
	181,054	Rentokil Initial plc		1,046,283
	20,500	Secom Co., Ltd.		1,267,394
	32,576	Securitas AB, Class B		282,979
	26,200	TOPPAN, INC.		438,106

				4,497,493

Communications Equipment (0.3%):
	516,875	Nokia OYJ		2,407,354
	281,773	Telefonaktiebolaget LM Ericsson, Class B		2,104,204

				4,511,558

Construction & Engineering (0.7%):
	21,282	ACS Actividades de Construccion y Servicios SA		516,231
	21,607	Bouygues SA^		668,126
	7,930	Eiffage SA		720,059
	45,328	Ferrovial SA		1,155,718
	42,800	Kajima Corp.		491,517
	58,500	Obayashi Corp.		425,031
	49,500	Shimizu Corp.		273,842
	32,096	Skanska AB, Class B		492,766
	17,800	Taisei Corp.		554,693


Shares			Value
Common Stocks, continued
Construction & Engineering, continued
	50,638	Vinci SA	$	4,548,694

				9,846,677

Construction Materials (0.5%):
	73,165	CRH plc		2,532,104
	13,132	HeidelbergCement AG		630,745
	53,383	Holcim, Ltd.		2,286,902
	40,937	James Hardie Industries SE		896,479

				6,346,230

Consumer Finance (0.0%^†):
	—	Isracard, Ltd.		1

Containers & Packaging (0.1%):
	23,939	Smurfit Kappa Group plc		807,697

Distributors (0.0%^†):
	2,397	D’ieteren Group		351,117

Diversified Consumer Services (0.0%^†):
	21,043	IDP Education, Ltd.		345,378

Diversified Financial Services (0.8%):
	3,632	Eurazeo SE		226,877
	10,311	EXOR NV		647,050
	9,992	Groupe Bruxelles Lambert SA		834,624
	13,325	Industrivarden AB, Class A		300,336
	13,871	Industrivarden AB, Class C		308,972
	46,796	Investor AB		841,296
	174,720	Investor AB, Class B		2,877,081
	23,067	Kinnevik AB, Class B*		372,273
	7,907	L E Lundbergforetagen AB		321,939
	242,263	M&G plc		574,088
	63,300	Mitsubishi HC Capital, Inc.		292,246
	114,600	ORIX Corp.		1,924,094
	1,465	Sofina SA		299,599
	202,311	Standard Life Aberdeen plc		394,117
	2,640	Wendel^		223,119

				10,437,711

Diversified Telecommunication Services (2.1%):
	669,143	BT Group plc		1,518,161
	52,336	Cellnex Telecom SAU		2,038,529
	310,440	Deutsche Telekom AG		6,162,802
	13,416	Elisa OYJ		753,999
	345,525	HKT Trust & HKT, Ltd.		464,304
	34,963	Infrastrutture Wireless Italiane SpA		355,648
	305,489	Koninklijke KPN NV		1,089,559
	113,704	Nippon Telegraph & Telephone Corp.		3,265,174
	187,082	Orange SA		2,199,740
	15,181	Proximus SADP		223,789
	807,800	Singapore Telecommunications, Ltd.		1,472,498
	171,151	Spark New Zealand, Ltd.		512,813
	2,410	Swisscom AG		1,334,210
	1,036,625	Telecom Italia SpA*		271,580
	87,057	Telefonica Deutschland Holding AG		250,001
	511,949	Telefonica SA		2,608,919
	67,343	Telenor ASA		897,482
	255,818	Telia Co AB		980,669
	402,715	Telstra Corp., Ltd.		1,069,461
	9,884	United Internet AG, Registered Shares		282,011

				27,751,349


Shares			Value
Common Stocks, continued
Electric Utilities (1.9%):
	2,377	Acciona SA	$	439,191
	62,500	Chubu Electric Power Co., Inc.		629,440
	65,570	CK Infrastructure Holdings, Ltd.		402,864
	155,000	CLP Holdings, Ltd.		1,286,822
	256,412	EDP - Energias de Portugal SA		1,198,220
	50,910	Electricite de France		416,644
	2,920	Elia Group SA/NV^		414,155
	29,444	Endesa SA^		555,548
	779,967	Enel SpA		4,286,394
	43,380	Fortum OYJ		651,645
	292,500	HK Electric Investments, Ltd.		268,433
	551,616	Iberdrola SA		5,723,198
	68,100	Kansai Electric Power Co., Inc. (The)		674,814
	61,309	Mercury NZ, Ltd.		216,234
	164,929	Origin Energy, Ltd.		656,774
	18,338	Orsted A/S		1,917,831
	131,500	Power Assets Holdings, Ltd.		828,292
	41,252	Red Electrica Corp SA		780,918
	100,812	Scottish & Southern Energy plc		1,992,723
	135,086	Terna SpA		1,061,578
	141,400	Tokyo Electric Power Co. Holdings, Inc.*		591,177
	6,614	Verbund AG, Class A		647,405

				25,640,300

Electrical Equipment (1.6%):
	156,410	ABB, Ltd.		4,180,879
	11,800	Fuji Electric Co., Ltd.		489,455
	25,388	Legrand SA^		1,889,219
	186,100	Mitsubishi Electric Corp.		1,992,243
	43,000	Nidec Corp.		2,659,238
	24,934	Prysmian SpA		688,006
	51,700	Schneider Electric SA		6,123,933
	38,275	Siemens Energy AG		561,234
	22,086	Siemens Gamesa Renewable Energy*		416,904
	97,485	Vestas Wind Systems A/S		2,066,192

				21,067,303

Electronic Equipment, Instruments & Components (1.4%):
	10,300	Azbil Corp.		270,931
	37,098	Halma plc		914,370
	12,900	Hamamatsu Photonics KK		501,644
	182,151	Hexagon AB, Class B		1,895,066
	3,214	Hirose Electric Co., Ltd.		424,481
	11,000	Ibiden Co., Ltd.		307,474
	18,680	Keyence Corp.		6,393,791
	30,600	Kyocera Corp.		1,638,150
	55,100	Murata Manufacturing Co., Ltd.		2,984,683
	17,100	Omron Corp.		869,719
	22,900	Shimadzu Corp.		724,907
	36,100	TDK Corp.		1,116,605
	27,200	Venture Corp., Ltd.		326,138
	21,900	Yokogawa Electric Corp.		359,353

				18,727,312

Energy Equipment & Services (0.0%^†):
	44,339	Tenaris SA		569,560

Entertainment (1.0%):
	82,040	Bollore, Inc.		382,678
	15,700	Capcom Co., Ltd.		381,592


Shares			Value
Common Stocks, continued
Entertainment, continued
	61,516	Embracer Group AB*	$	469,820
	5,980	Koei Tecmo Holdings Co., Ltd.		193,215
	8,600	Konami Holdings Corp.		476,372
	46,900	Nexon Co., Ltd.		961,076
	10,600	Nintendo Co., Ltd.		4,581,915
	34,528	Sea, Ltd., ADR*		2,308,542
	8,000	Square Enix Holdings Co., Ltd.		354,642
	10,900	Toho Co., Ltd.		394,354
	8,761	UbiSoft Entertainment SA*		386,932
	68,093	Universal Music Group NV		1,375,568
	65,985	Vivendi Universal SA		673,319

				12,940,025

Equity Real Estate Investment Trusts (1.3%):
	334,683	Ascendas Real Estate Investment Trust		687,083
	85,015	British Land Co. plc		463,041
	481,113	CapitaLand Mall Trust		752,225
	4,592	Covivio		257,192
	206	Daiwahouse Residential Investment Corp.		467,035
	102,333	Dexus		626,433
	4,333	Gecina SA		407,562
	394	GLP J-REIT		481,621
	157,397	Goodman Group		1,935,814
	181,051	GPT Group		526,664
	675	Japan Metropolitan Fund Invest		526,163
	116	Japan Real Estate Investment Corp.		533,622
	20,015	Klepierre		385,411
	67,234	Land Securities Group plc		543,762
	197,300	Link REIT (The)		1,611,404
	235,300	Mapletree Commercial Trust		310,281
	323,434	Mapletree Logistics Trust		391,600
	377,732	Mirvac Group		514,341
	141	Nippon Building Fund, Inc.		701,676
	212	Nippon Prologis REIT, Inc.		521,492
	387	Nomura Real Estate Master Fund, Inc.		483,309
	501,635	Scentre Group		895,595
	114,179	Segro plc		1,357,521
	223,911	Stockland		557,983
	10,831	Unibail-Rodamco-Westfield*		552,681
	351,082	Vicinity Centres		444,890
	14,324	Warehouses De Pauw CVA		450,630

				17,387,031

Food & Staples Retailing (1.4%):
	64,300	AEON Co., Ltd.		1,116,370
	59,902	Carrefour SA		1,062,692
	126,586	Coles Group, Ltd.		1,556,494
	131,643	Endeavour Group, Ltd.		687,952
	16,359	HelloFresh SE*		529,283
	155,527	J Sainsbury plc		386,271
	26,690	Jeronimo Martins SGPS SA		580,037
	25,562	Kesko Oyj, Class B		603,355
	13,900	Kobe Bussan Co., Ltd.		340,308
	100,922	Koninklijke Ahold Delhaize NV		2,629,827
	46,805	Ocado Group plc*		445,060
	71,000	Seven & I Holdings Co., Ltd.		2,752,686
	737,233	Tesco plc		2,292,661
	9,400	Welcia Holdings Co., Ltd.		188,366


Shares			Value
Common Stocks, continued
Food & Staples Retailing, continued
	114,914	Woolworths Group, Ltd.	$	2,822,289

				17,993,651

Food Products (3.6%):
	45,700	Ajinomoto Co., Inc.		1,112,245
	33,925	Associated British Foods plc		655,712
	343	Barry Callebaut AG, Registered Shares		768,321
	10	Chocoladefabriken Lindt & Spruengli AG		1,048,668
	62,641	Danone SA		3,519,852
	7,602	JDE Peet’s NV		216,993
	15,243	Kerry Group plc, Class A		1,459,993
	13,900	Kikkoman Corp.		738,366
	99	Lindt & Spruengli AG		1,007,100
	11,652	Meiji Holdings Co., Ltd.		572,146
	39,838	Mowi ASA		909,298
	268,684	Nestle SA		31,527,275
	19,545	Nisshin Seifun Group, Inc.		228,866
	5,900	Nissin Foods Holdings Co., Ltd.		407,377
	78,138	Orkla ASA, Class A		625,721
	5,672	Salmar ASA		400,358
	769,797	WH Group, Ltd.		595,600
	174,600	Wilmar International, Ltd.		508,131
	12,100	Yakult Honsha Co., Ltd.		698,640

				47,000,662

Gas Utilities (0.4%):
	112,935	APA Group		877,774
	22,895	Enagas SA		505,646
	1,061,135	Hong Kong & China Gas Co., Ltd.		1,143,198
	14,006	Naturgy Energy Group SA		403,378
	34,500	Osaka Gas Co., Ltd.		662,707
	195,393	Snam SpA		1,025,398
	34,900	Tokyo Gas Co., Ltd.		722,167

				5,340,268

Health Care Equipment & Supplies (1.9%):
	47,908	Alcon, Inc.		3,347,106
	17,500	Asahi Intecc Co., Ltd.		263,867
	4,310	BioMerieux		420,919
	3,661	Carl Zeiss Meditec AG		437,117
	6,255	Cochlear, Ltd.		858,276
	11,276	Coloplast A/S, Class B		1,288,103
	10,100	Demant A/S*		379,192
	2,417	DiaSorin SpA		317,420
	56,022	Fisher & Paykel Healthcare Corp., Ltd.		697,641
	23,058	Getinge AB, Class B		533,577
	12,113	GN Store Nord A/S		427,364
	35,600	Hoya Corp.		3,043,711
	85,120	Koninklijke Philips NV		1,846,624
	118,900	Olympus Corp.		2,391,523
	2,202	Sartorius AG		769,063
	26,574	Siemens Healthineers AG		1,350,655
	81,642	Smith & Nephew plc		1,141,252
	5,061	Sonova Holding AG		1,612,040
	10,733	Straumann Holding AG, Class R		1,291,306
	15,500	Sysmex Corp.		934,076
	62,500	Terumo Corp.		1,884,973

				25,235,805


Shares			Value
Common Stocks, continued
Health Care Providers & Services (0.3%):
	12,628	Amplifon SpA	$	388,712
	19,977	Fresenius Medical Care AG & Co., KGaA		997,591
	39,793	Fresenius SE & Co. KGaA		1,205,565
	17,176	Ramsay Health Care, Ltd.		868,453
	44,295	Sonic Healthcare, Ltd.		1,009,585

				4,469,906

Health Care Technology (0.1%):
	42,200	M3, Inc.		1,214,311

Hotels, Restaurants & Leisure (1.4%):
	17,675	Accor SA*		485,355
	57,102	Aristocrat Leisure, Ltd.		1,355,845
	170,440	Compass Group plc		3,488,799
	5,969	Domino’s Pizza Enterprises, Ltd.		279,875
	57,078	Entain plc*		865,963
	17,608	Evolution AB		1,604,063
	16,312	Flutter Entertainment plc*		1,651,142
	209,000	Galaxy Entertainment Group, Ltd.		1,250,699
	516,457	Genting Singapore, Ltd.		268,138
	17,748	InterContinental Hotels Group plc		940,783
	9,051	La Francaise des Jeux SAEM		315,271
	216,784	Lottery Corp., Ltd. (The)*		676,202
	7,029	McDonald’s Holdings Co., Ltd.		255,934
	19,200	Oriental Land Co., Ltd.		2,674,331
	212,332	Sands China, Ltd.*		518,499
	8,312	Sodexo SA		589,726
	19,102	Whitbread plc		576,990

				17,797,615

Household Durables (1.3%):
	94,382	Barratt Developments plc		526,009
	10,916	Berkeley Group Holdings plc*		495,207
	23,465	Electrolux AB, Class B		316,226
	16,200	Iida Group Holdings Co., Ltd.		249,567
	8,300	Open House Co., Ltd.		330,641
	215,100	Panasonic Holdings Corp.		1,740,320
	30,952	Persimmon plc		702,487
	2,415	SEB SA		232,965
	34,500	Sekisui Chemical Co., Ltd.		472,674
	59,900	Sekisui House, Ltd.		1,048,502
	16,000	Sharp Corp.		123,851
	120,400	Sony Group Corp.		9,840,998
	351,444	Taylor Wimpey plc		499,493

				16,578,940

Household Products (0.6%):
	57,669	Essity AB, Class B		1,506,485
	9,738	Henkel AG & Co. KGaA		595,864
	68,064	Reckitt Benckiser Group plc		5,111,486
	37,800	Unicharm Corp.		1,265,748

				8,479,583

Independent Power and Renewable Electricity Producers (0.1%):
	27,555	EDP Renovaveis SA		650,998
	123,351	Meridian Energy, Ltd.		359,863
	8,605	Uniper SE		127,673

				1,138,534

Industrial Conglomerates (1.5%):
	256,744	CK Hutchison Holdings, Ltd.		1,746,108


Shares			Value
Common Stocks, continued
Industrial Conglomerates, continued
	9,292	DCC plc	$	580,510
	91,820	Hitachi, Ltd.		4,351,185
	15,609	Investment AB Latour, Class B^		309,197
	21,000	Jardine Matheson Holdings, Ltd.		1,105,279
	136,400	Keppel Corp., Ltd.		637,856
	23,499	Lifco AB, Class B		378,051
	417,063	Melrose Industries plc		761,407
	4,194	Rheinmetall AG		968,326
	73,264	Siemens AG		7,455,573
	37,280	Smiths Group plc		635,632
	36,300	Toshiba Corp.^		1,476,597

				20,405,721

Insurance (5.2%):
	18,070	Admiral Group plc		493,799
	171,254	Aegon NV		746,314
	14,998	Ageas NV		660,220
	1,160,000	AIA Group, Ltd.		12,741,940
	39,084	Allianz SE+		7,459,841
	106,939	Assicurazioni Generali SpA		1,712,561
	264,715	Aviva plc		1,293,038
	186,508	AXA SA		4,237,760
	4,338	Baloise Holding AG		712,184
	94,400	Dai-ichi Life Holdings, Inc.		1,742,953
	19,206	Gjensidige Forsikring ASA		390,235
	5,846	Hannover Rueck SE		847,979
	229,877	Insurance Australia Group, Ltd.		691,986
	229,200	Japan Post Holdings Co., Ltd.		1,637,839
	19,500	Japan Post Insurance Co., Ltd.		312,127
	575,365	Legal & General Group plc		1,679,250
	266,611	Medibank Private, Ltd.		598,246
	43,611	MS&AD Insurance Group Holdings, Inc.		1,337,256
	13,395	Muenchener Rueckversicherungs-Gesellschaft AG		3,147,360
	27,551	NN Group NV		1,259,915
	65,334	Phoenix Group Holdings plc		469,885
	49,390	Poste Italiane SpA		463,926
	261,270	Prudential plc		3,249,380
	143,233	QBE Insurance Group, Ltd.		1,201,638
	46,866	Sampo Oyj, Class A		2,040,601
	29,325	Sompo Holdings, Inc.		1,293,940
	123,286	Suncorp Group, Ltd.		934,627
	3,030	Swiss Life Holding AG		1,477,468
	28,795	Swiss Re AG		2,233,401
	50,836	T&D Holdings, Inc.		607,669
	59,600	Tokio Marine Holdings, Inc.		3,473,675
	33,997	Tryg A/S		763,991
	14,351	Zurich Insurance Group AG		6,247,310

				68,160,314

Interactive Media & Services (0.2%):
	25,768	Adevinta ASA*		187,647
	91,858	Auto Trader Group plc		621,058
	13,000	Kakaku.com, Inc.		214,705
	5,498	REA Group, Ltd.		423,751
	7,342	Scout24 AG		377,166
	33,025	Seek, Ltd.		479,127
	259,100	Z Holdings Corp.		758,129

				3,061,583


Shares			Value
Common Stocks, continued
Internet & Direct Marketing Retail (0.6%):
	16,337	Delivery Hero SE*	$	612,310
	17,726	Just Eat Takeaway*		283,399
	78,565	Prosus NV		5,191,488
	80,900	Rakuten, Inc.		365,344
	21,658	Zalando SE*		566,380
	13,200	ZOZO, Inc.		238,160

				7,257,081

IT Services (1.4%):
	2,087	Adyen NV*		3,067,487
	43,031	Amadeus IT Group SA*		2,417,324
	8,520	Bechtle AG		348,316
	15,564	Capgemini SA		2,691,084
	52,517	Computershare, Ltd.		893,673
	24,045	Edenred		1,139,222
	18,800	Fujitsu, Ltd.		2,353,583
	3,900	GMO Payment Gateway, Inc.		274,980
	9,500	Itochu Techno-Solutions Corp.		231,672
	45,718	Nexi SpA*		380,647
	32,038	Nomura Research Institute, Ltd.		853,346
	61,400	NTT Data Corp.		843,226
	6,800	OBIC Co., Ltd.		962,773
	10,700	Otsuka Corp.		316,131
	13,500	SCSK Corp.		227,359
	20,800	TIS, Inc.		545,483
	5,789	Wix.com, Ltd.*		379,469
	21,734	Worldline SA*		803,888

				18,729,663

Leisure Products (0.2%):
	18,600	Bandai Namco Holdings, Inc.		1,314,331
	7,000	Shimano, Inc.		1,184,284
	13,900	Yamaha Corp.		572,224

				3,070,839

Life Sciences Tools & Services (0.5%):
	3,125	Bachem Holding AG, Registered B		217,246
	12,445	Eurofins Scientific SE		983,709
	7,162	Lonza Group AG		3,819,550
	22,367	Qiagen NV*		1,050,268
	2,697	Sartorius Stedim Biotech		853,740

				6,924,513

Machinery (2.7%):
	28,057	Alfa Laval AB		677,451
	29,752	Alstom SA^		680,938
	257,200	Atlas Copco AB, Class A*		2,408,051
	149,604	Atlas Copco AB, Class B*		1,253,687
	96,451	CNH Industrial NV		1,119,288
	9,400	Daifuku Co., Ltd.		538,446
	43,588	Daimler Truck Holding AG*		1,137,436
	61,564	Epiroc AB, Class A		952,133
	37,307	Epiroc AB, Class B		504,844
	18,500	FANUC Corp.		2,900,170
	14,256	GEA Group AG		491,204
	10,100	Hitachi Construction Machinery Co., Ltd.		223,956
	11,400	Hoshizaki Corp.		340,134
	41,082	Husqvarna AB, Class B		302,487
	7,507	Kion Group AG		311,304


Shares			Value
Common Stocks, continued
Machinery, continued
	6,939	Knorr-Bremse AG	$	395,832
	89,000	Komatsu, Ltd.		1,981,519
	32,937	Kone Oyj, Class B		1,574,724
	4,665	Kornit Digital, Ltd.*		147,880
	98,900	Kubota Corp.^		1,479,402
	9,900	Kurita Water Industries, Ltd.		360,149
	20,900	Makita Corp.		521,602
	34,600	MINEBEA MITSUMI, Inc.		590,017
	27,700	Misumi Group, Inc.		584,699
	30,300	Mitsubishi Heavy Industries, Ltd.		1,060,713
	25,300	NGK Insulators, Ltd.		341,221
	533	Rational AG		309,869
	102,678	Sandvik AB		1,667,798
	3,907	Schindler Holding AG		713,340
	2,261	Schindler Holding AG, Registered Shares		406,941
	36,282	SKF AB, Class B		534,838
	5,400	SMC Corp.		2,410,031
	6,679	Spirax-Sarco Engineering plc		803,731
	128,000	Techtronic Industries Co., Ltd.		1,338,216
	2,473	VAT Group AG		590,639
	18,388	Volvo AB, Class A		296,359
	145,321	Volvo AB, Class B		2,253,791
	44,492	Wartsila Oyj Abp, Class B		346,793
	23,300	Yaskawa Electric Corp.		751,581

				35,303,214

Marine (0.4%):
	299	A.P. Moeller - Maersk A/S, Class A		693,393
	515	A.P. Moeller - Maersk A/S, Class B		1,209,782
	5,326	Kuehne + Nagel International AG		1,261,155
	33,300	Mitsui O.S.K. Lines, Ltd.		764,912
	14,900	Nippon Yusen KK		1,022,297
	138,000	SITC International Holdings Co., Ltd.		391,027
	8,076	ZIM Integrated Shipping Services, Ltd.^		381,430

				5,723,996

Media (0.4%):
	42,100	Cyberagent, Inc.		419,729
	20,777	Dentsu Group, Inc.		624,610
	22,700	Hakuhodo DY Holdings, Inc.		208,544
	144,535	Informa plc*		931,297
	70,044	Pearson plc		639,664
	21,978	Publicis Groupe SA		1,084,869
	109,537	WPP plc		1,100,576

				5,009,289

Metals & Mining (3.4%):
	120,434	Anglo American plc		4,299,353
	37,468	Antofagasta plc		526,770
	58,702	ArcelorMittal SA		1,332,728
	274,831	BHP Group, Ltd.		7,914,113
	208,354	BHP Group, Ltd.		5,825,375
	46,710	BlueScope Steel, Ltd.		512,338
	26,418	Boliden AB		840,751
	182,201	Evolution Mining, Ltd.		292,982
	160,558	Fortescue Metals Group, Ltd.		1,974,508
	947,005	Glencore plc		5,130,823
	18,700	Hitachi Metals, Ltd.*		282,800
	47,600	JFE Holdings, Inc.		500,762


Shares			Value
Common Stocks, continued
Metals & Mining, continued
	16,517	Mineral Resources, Ltd.	$	558,735
	87,128	Newcrest Mining, Ltd.		1,238,687
	77,748	Nippon Steel Corp.		1,085,330
	129,638	Norsk Hydro ASA		731,131
	107,364	Northern Star Resources, Ltd.		495,007
	107,208	Rio Tinto plc		6,409,417
	35,485	Rio Tinto, Ltd.		2,541,485
	436,102	South32, Ltd.		1,203,597
	23,700	Sumitomo Metal & Mining Co., Ltd.		742,824
	11,188	Voestalpine AG		238,046

				44,677,562

Multiline Retail (0.4%):
	13,014	Next plc		929,022
	35,600	Pan Pacific International Holdings Corp.		568,497
	107,361	Wesfarmers, Ltd.		3,106,805

				4,604,324

Multi-Utilities (0.9%):
	213,698	E.ON SE		1,792,664
	172,850	Engie Group^		2,005,883
	345,691	National Grid plc		4,429,369
	61,020	RWE AG		2,248,634
	64,376	Veolia Environnement SA*		1,592,429

				12,068,979

Oil, Gas & Consumable Fuels (4.7%):
	30,169	Aker BP ASA^		1,042,983
	21,748	Ampol, Ltd.		510,980
	1,861,943	BP plc		8,768,049
	295,920	ENEOS Holdings, Inc.		1,117,261
	239,111	ENI SpA		2,840,182
	92,941	Equinor ASA		3,234,437
	52,149	Galp Energia SGPS SA		611,206
	20,687	Idemitsu Kosan Co., Ltd.		496,995
	98,000	INPEX Corp.		1,057,828
	40,565	Neste Oyj		1,797,150
	14,019	OMV AG		658,267
	136,437	Repsol SA^		2,008,729
	312,977	Santos, Ltd.		1,595,187
	726,208	Shell PLC		18,947,523
	236,370	TotalEnergies SE		12,457,754
	21,943	Washington H. Soul Pattinson & Co., Ltd.		356,649
	37,649	Woodside Energy Group, Ltd.		797,308
	142,512	Woodside Energy Group, Ltd.		3,120,187

				61,418,675

Paper & Forest Products (0.4%):
	9,034	Holmen AB, B Shares		366,955
	47,327	Mondi plc		839,409
	79,100	Oji Holdings Corp.		342,990
	52,552	Stora Enso Oyj, Class R		825,010
	58,252	Svenska Cellulosa AB SCA, Class B		871,399
	50,962	UPM-Kymmene Oyj		1,558,647

				4,804,410

Personal Products (1.8%):
	9,702	Beiersdorf AG		990,913
	45,200	Kao Corp.		1,824,389
	5,200	Kobayashi Pharmaceutical Co., Ltd.		320,663


Shares			Value
Common Stocks, continued
Personal Products, continued
	3,000	Kose Corp.	$	273,202
	22,997	L’Oreal SA		7,944,504
	38,600	Shiseido Co., Ltd.		1,551,061
	244,054	Unilever plc		11,106,020

				24,010,752

Pharmaceuticals (9.8%):
	178,400	Astellas Pharma, Inc.		2,779,998
	147,888	AstraZeneca plc		19,382,119
	93,751	Bayer AG, Registered Shares		5,569,282
	64,900	Chugai Pharmaceutical Co., Ltd.^		1,661,122
	166,800	Daiichi Sankyo Co., Ltd.		4,211,284
	24,300	Eisai Co., Ltd.		1,026,175
	486,195	GSK plc		10,452,583
	15,559	Hikma Pharmaceuticals plc		306,322
	3,643	Ipsen SA		343,873
	24,800	Kyowa Kirin Co., Ltd.		557,942
	12,314	Merck KGaA		2,078,046
	4,100	Nippon Shinyaku Co., Ltd.		249,516
	209,123	Novartis AG, Registered Shares		17,692,890
	160,727	Novo Nordisk A/S, Class B		17,842,201
	35,400	Ono Pharmaceutical Co., Ltd.		908,943
	10,166	Orion Oyj, Class B		454,011
	38,200	Otsuka Holdings Co., Ltd.		1,357,410
	10,485	Recordati SpA		458,075
	2,569	Roche Holding AG		992,061
	67,058	Roche Holding AG		22,389,333
	108,376	Sanofi		10,958,035
	25,000	Shionogi & Co., Ltd.		1,263,966
	144,773	Takeda Pharmacuetical Co., Ltd.		4,069,093
	105,678	Teva Pharmaceutical Industries, Ltd., ADR*		794,699
	12,344	UCB SA		1,045,333
	4,200	Vifor Pharma AG		728,256

				129,572,568

Professional Services (1.6%):
	14,494	Adecco Group AG		493,108
	28,499	Bureau Veritas SA		730,583
	87,157	Experian plc		2,554,578
	15,653	Intertek Group plc		801,962
	24,900	Nihon M&A Center, Inc.		265,276
	16,700	Persol Holdings Co., Ltd.		304,012
	12,440	Randstad NV		606,574
	138,800	Recruit Holdings Co., Ltd.		4,093,731
	184,304	RELX plc		4,976,092
	614	SGS SA, Registered Shares		1,406,705
	5,692	Teleperformance		1,750,785
	25,448	Wolters Kluwer NV		2,475,269

				20,458,675

Real Estate Management & Development (1.5%):
	90,617	Aroundtown SA^		288,091
	4,494	Azrieli Group		316,539
	74,028	BGP Holdings plc*(a)		—
	243,900	Capitaland Investment, Ltd.		671,727
	33,900	City Developments, Ltd.		199,089
	193,744	CK Asset Holdings, Ltd.		1,372,382
	6,200	Daito Trust Construction Co., Ltd.		534,750
	56,100	Daiwa House Industry Co., Ltd.		1,308,599


Shares			Value
Common Stocks, continued
Real Estate Management & Development, continued
	196,400	ESR Cayman, Ltd.*	$	531,547
	61,620	Fastighets AB Balder, B Shares*		295,644
	206,000	Hang Lung Properties, Ltd.		390,997
	132,956	Henderson Land Development Co., Ltd.		500,452
	109,100	Hongkong Land Holdings, Ltd.		548,615
	38,200	Hulic Co., Ltd.		295,920
	6,876	LEG Immobilien SE		569,957
	72,800	Lend Lease Group		457,949
	112,400	Mitsubishi Estate Co., Ltd.		1,632,456
	87,800	Mitsui Fudosan Co., Ltd.		1,889,648
	138,655	New World Development Co., Ltd.		500,507
	12,300	Nomura Real Estate Holdings, Inc.		301,679
	16,235	Sagax AB, Class B		299,990
	298,601	Sino Land Co., Ltd.		440,988
	29,500	Sumitomo Realty & Development Co., Ltd.		779,822
	139,500	Sun Hung Kai Properties, Ltd.		1,650,690
	41,964	Swire Pacific, Ltd., Class A		252,158
	125,200	Swire Properties, Ltd.		311,265
	7,294	Swiss Prime Site AG		640,243
	36,896	UOL Group, Ltd.		195,636
	67,308	Vonovia SE		2,073,962
	158,300	Wharf Real Estate Investment Co., Ltd.		754,703

				20,006,005

Road & Rail (0.9%):
	165,259	Aurizon Holdings, Ltd.		434,190
	13,700	Central Japan Railway Co.		1,581,811
	18,022	DSV A/S		2,523,824
	28,713	East Japan Railway Co.		1,469,332
	105,487	Grab Holdings, Ltd.*^		266,882
	21,100	Hankyu Hanshin Holdings, Inc.		575,887
	10,000	Keio Corp.		358,150
	11,300	Keisei Electric Railway Co., Ltd.		311,774
	16,600	Kintetsu Group Holdings Co., Ltd.		516,602
	147,994	MTR Corp., Ltd.		773,473
	6,800	Nippon Express Holdings Co., Ltd.		369,665
	28,800	Odakyu Electric Railway Co., Ltd.		387,758
	16,900	Tobu Railway Co., Ltd.		386,510
	46,600	Tokyu Corp.		549,268
	21,900	West Japan Railway Co.		806,250

				11,311,376

Semiconductors & Semiconductor Equipment (2.6%):
	17,600	Advantest Corp.		935,304
	4,479	ASM International NV		1,130,953
	38,797	ASML Holding NV		18,721,847
	2,700	Disco Corp.		636,125
	123,083	Infineon Technologies AG		2,977,600
	7,400	Lasertec Corp.		873,865
	114,000	Renesas Electronics Corp.*		1,028,648
	8,400	ROHM Co., Ltd.		581,809
	65,181	STMicroelectronics NV		2,072,004
	33,500	SUMCO Corp.		431,134
	14,300	Tokyo Electron, Ltd.		4,639,070
	10,504	Tower Semiconductor, Ltd.*		491,093

				34,519,452

Software (1.4%):
	12,426	AVEVA Group plc		339,495


Shares			Value
Common Stocks, continued
Software, continued
	9,683	Check Point Software Technologies, Ltd.*	$	1,179,196
	3,816	CyberArk Software, Ltd.*		488,295
	63,897	Dassault Systemes SE		2,367,257
	5,434	Nemetschek SE		328,864
	5,945	Nice, Ltd.*		1,146,465
	3,700	Oracle Corp.		213,716
	96,733	Sage Group plc (The)		748,022
	99,424	SAP SE		9,056,501
	52,620	Sinch AB*		170,718
	6,251	Temenos AG		533,586
	12,600	Trend Micro, Inc.		613,402
	14,383	WiseTech Global, Ltd.		372,989
	12,735	Xero, Ltd.*		677,438

				18,235,944

Specialty Retail (0.7%):
	187,800	Chow Tai Fook Jewellery Group, Ltd.		353,362
	5,500	Fast Retailing Co., Ltd.		2,876,593
	66,596	Hennes & Mauritz AB, Class B^		796,630
	2,000	Hikari Tsushin, Inc.^		205,207
	105,423	Industria de Diseno Textil SA		2,387,221
	250,320	JD Sports Fashion plc*		351,997
	200,910	Kingfisher plc		597,432
	7,700	Nitori Co., Ltd.		731,098
	20,700	USS Co., Ltd.		357,874

				8,657,414

Technology Hardware, Storage & Peripherals (0.5%):
	22,600	Brother Industries, Ltd.		397,693
	94,100	Canon, Inc.^		2,141,087
	35,000	FUJIFILM Holdings Corp.		1,879,668
	16,980	Logitech International SA, Class R		884,144
	23,500	NEC Corp.		913,728
	52,700	Ricoh Co., Ltd.		410,008
	27,900	Seiko Epson Corp.		395,155

				7,021,483

Textiles, Apparel & Luxury Goods (3.0%):
	16,649	Adidas AG		2,944,143
	38,814	Burberry Group plc		776,346
	49,717	Cie Financiere Richemont SA		5,295,497
	27,479	EssilorLuxottica SA		4,155,825
	3,003	Hermes International SA		3,392,093
	7,120	Kering		3,698,730
	26,453	LVMH Moet Hennessy Louis Vuitton SA		16,322,698
	20,158	Moncler SpA		870,663
	8,846	Pandora A/S		559,101
	10,277	Puma SE		676,721
	4,961	Swatch Group AG (The)		220,464
	2,728	Swatch Group AG (The), Class B		647,426

				39,559,707

Tobacco (1.1%):
	208,245	British American Tobacco plc		8,923,338
	86,948	Imperial Brands plc, Class A		1,943,041
	112,500	Japan Tobacco, Inc.^		1,946,166
	152,123	Swedish Match AB		1,554,198

				14,366,743


Shares			Value
Common Stocks, continued
Trading Companies & Distributors (1.6%):
	13,089	AerCap Holdings NV*	$	535,864
	41,957	Ashtead Group plc		1,759,817
	15,126	Brenntag AG		984,324
	32,576	Bunzl plc		1,078,597
	20,610	Ferguson plc		2,307,334
	5,255	IMCD NV		725,919
	26,304	Indutrade AB		480,599
	112,900	Itochu Corp.		3,053,817
	151,900	Marubeni Corp.		1,371,398
	120,900	Mitsubishi Corp.		3,595,531
	134,400	Mitsui & Co., Ltd.		2,968,363
	22,800	MonotaRo Co., Ltd.		339,166
	20,849	Reece, Ltd.		198,457
	106,800	Sumitomo Corp.		1,460,923
	20,100	Toyota Tsushu Corp.		657,114

				21,517,223

Transportation Infrastructure (0.5%):
	7,242	Aena SME SA*		920,914
	3,168	Aeroports de Paris*		403,541
	47,319	Atlantia SpA		1,110,431
	118,376	Auckland International Airport, Ltd.*		529,948
	42,517	Getlink SE		752,909
	291,292	Transurban Group		2,892,142

				6,609,885

Water Utilities (0.1%):
	23,851	Severn Trent plc		789,670
	65,018	United Utilities Group plc		807,462

				1,597,132

Wireless Telecommunication Services (1.3%):
	154,500	KDDI Corp.		4,886,259
	273,100	Softbank Corp.		3,031,584


Shares or Principal Amount			Value
Common Stocks, continued
Wireless Telecommunication Services, continued
	115,700	SoftBank Group Corp.	$	4,472,039
	54,662	Tele2 AB		623,151
	2,551,136	Vodafone Group plc		3,934,823

				16,947,856

	Total Common Stocks (Cost $1,090,784,825)			1,300,258,145

Preferred Stocks (0.3%):
Automobiles (0.2%):
	5,192	Bayerische Motoren Werke AG (BMW), 8.61%, 5/15/20		367,765
	14,102	Porsche Automobil Holding SE, 4.06%, 5/20/20		932,684
	17,679	Volkswagen AG, 5.93%, 5/8/20		2,360,429

				3,660,878

Household Products (0.1%):
	17,462	Henkel AG & Co. KGaA, 3.15%, 4/21/20		1,075,504

	Total Preferred Stocks (Cost $5,168,647)			4,736,382

Short-Term Security Held as Collateral for Securities on Loan (2.2%):
	28,452,191	BlackRock Liquidity FedFund, Institutional Class, 0.19%(b)(c)		28,452,191

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $28,452,191)			28,452,191

Unaffiliated Investment Company (0.1%):
Money Markets (0.1%):
	931,609	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(c)		931,609

	Total Unaffiliated Investment Company (Cost $931,609)			931,609

	Total Investment Securities (Cost $1,125,337,272) — 101.0%			1,334,378,327
	Net other assets (liabilities) — (1.0)%			(13,321,269	)

	Net Assets — 100.0%		$	1,321,057,058

The following represents the concentrations by country of risk (based on the domicile of the security issuer) relative to the total value of investments as of June 30, 2022:

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investments in non-affiliates, at cost	$	1,119,592,709
Investments in affiliates, at cost		5,744,563

Investments in non-affiliates, at value(a)	$	1,326,918,487
Investments in affiliates, at value		7,459,840
Deposit at broker for futures contracts collateral		782,085
Interest and dividends receivable		2,162,457
Foreign currency, at value (cost $5,593,819)		5,598,908
Receivable for capital shares issued		242
Receivable for investments sold		22,391
Reclaims receivable		7,929,849
Prepaid expenses		4,671

Total Assets		1,350,878,930

Liabilities:
Payable for investments purchased		5,492
Payable for capital shares redeemed		144,013
Payable for collateral received on loaned securities		28,452,191
Payable for variation margin on futures contracts		211,441
Manager fees payable		394,978
Administration fees payable		190,219
Distribution fees payable		265,285
Custodian fees payable		13,905
Administrative and compliance services fees payable		1,000
Transfer agent fees payable		1,398
Trustee fees payable		8,812
Other accrued liabilities		133,138

Total Liabilities		29,821,872

Net Assets	$	1,321,057,058

Net Assets Consist of:
Paid in capital	$	1,050,962,045
Total distributable earnings		270,095,013

Net Assets	$	1,321,057,058

Class 1
Net Assets	$	75,901,697
Shares of beneficial interest (unlimited number of shares authorized, no par value)		7,393,142
Net Asset Value (offering and redemption price per share)	$	10.27

Class 2
Net Assets	$	1,245,155,361
Shares of beneficial interest (unlimited number of shares authorized, no par value)		81,270,973
Net Asset Value (offering and redemption price per share)	$	15.32

(a)	Includes securities on loan of $26,336,471.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Dividends from non-affiliates	$	34,226,360
Dividends from affiliates		452,207
Income from securities lending		129,298
Foreign withholding tax		(2,904,451	)

Total Investment Income		31,903,414

Expenses:
Management fees		2,661,380
Administration fees		139,218
Distribution fees - Class 2		1,792,163
Custodian fees		105,618
Administrative and compliance services fees		9,067
Transfer agent fees		5,657
Trustee fees		35,745
Professional fees		28,674
Licensing fees		229,435
Shareholder reports		19,261
Other expenses		19,802

Total expenses		5,046,020

Net Investment Income/(Loss)		26,857,394

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities and foreign currencies		11,658,491
Net realized gains/(losses) on affiliated transactions		203,934
Net realized gains/(losses) on futures contracts		(432,713	)
Change in net unrealized appreciation/depreciation on securities and foreign currencies		(358,814,854	)
Change in net unrealized appreciation/depreciation on affiliated transactions		(1,983,408	)
Change in net unrealized appreciation/depreciation on futures contracts		(105,701	)

Net realized and Change in net unrealized gains/losses on investments		(349,474,251	)

Change in Net Assets Resulting From Operations	$	(322,616,857	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services—Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL International Index Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

Products Trust, Allianz Variable Insurance Products Fund of Funds Trust, and AIM ETF Products Trust based upon relative net assets or another reasonable basis. Allianz Investment Management LLC (the “Manager”), serves as the investment manager for the Trust, Allianz Variable Insurance Products Fund of Funds Trust and AIM ETF Products Trust.

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $12,396 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $28,452,191 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

During the period ended June 30, 2022, the Fund used futures contracts to provide market exposure on the Fund’s cash balances. Futures contracts are valued based upon their quoted daily settlement prices. Upon entering into a futures contract, the Fund is required to segregate liquid assets in accordance with the initial margin requirements of the broker or exchange. Futures contracts are marked to market daily and a payable or receivable for the change in value (“variation margin”), if any, is recorded by the Fund. Gains or losses are recognized but not considered realized until the contracts expire or are closed. Futures contracts involve, to varying degrees, elements of market risk (generally equity price risk related to stock futures, interest rate risk related to bond futures, and foreign currency risk related to currency futures) and exposure to loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities. The primary risks associated with the use of futures contracts are the imperfect correlation between the change in value of the underlying securities and the prices of futures contracts, the possibility of an illiquid market, and the inability of the counterparty to meet the terms of the contract. For the period ended June 30, 2022, the monthly average notional amount for long contracts was $10.3 million. There was no short contract activity during the period. Realized gains and losses are reported as “Net realized gains/(losses) on futures contracts” on the Statement of Operations.

The following is a summary of the values of derivative instruments on the Fund’s Statement of Assets and Liabilities, categorized by risk exposure, as of June 30, 2022:

The following is a summary of the effect of derivative instruments on the Statement of Operations, categorized by risk exposure, for the period ended June 30, 2022:

The Manager provides investment advisory and management services for the Fund. The Manager has retained an independent money management organization (the “Subadviser”), to make investment decisions on behalf of the Fund. Pursuant to a subadvisory agreement with BlackRock Investment Management, LLC (“BlackRock Investment”), BlackRock Investment provides investment advisory services as the Subadviser for the Fund subject to the general supervision of the Trustees and the Manager. The Manager is entitled to a fee, computed daily and paid monthly, based on the average daily net assets of the Fund. Expenses incurred by the Fund for investment advisory and management services are reflected on the Statement of Operations as “Management fees.” For its services, the Subadviser is entitled to a fee payable by the Manager. The Manager has contractually agreed to waive fees and reimburse the Fund to limit the annual expenses, excluding interest expense (e.g., cash overdraft fees), taxes, brokerage commissions, acquired fund fees and expenses, other expenditures that are capitalized in accordance with U.S. GAAP and other extraordinary expenses not incurred in the ordinary course of the Fund’s business, based on the daily net assets of the Fund, through April 30, 2023.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

At June 30, 2022, the following investments are noted as Affiliated Securities in the Fund’s Schedule of Portfolio Investments.

Allianz Life Financial Services, LLC (“ALFS”), an affiliate of the Manager, serves as distributor of the Fund. ALFS receives an annual 12b-1 fee in the maximum amount of 0.25% of the average daily net assets attributable of Class 2 shares, plus a Trust-wide annual fee of $42,500 paid by the Manager from its profits and not by the Trust, for recordkeeping and reporting services.

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

also involve the risk of mispricing or improper valuation and the risk that changes in the value may not correlate perfectly with the underlying asset, rate, or index. Using derivatives may result in losses, possibly in excess of the principal amount invested. Also, suitable derivative transactions may not be available in all circumstances. The counterparty to a derivatives contract could default.

The current outbreak of the novel strain of coronavirus, COVID-19, has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain the spread of COVID-19 have resulted in travel restrictions, closed international borders, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, defaults and other significant economic impacts, all of which have disrupted global economic activity across many industries and may exacerbate other pre-existing political, social and economic risks, locally or globally. The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Fund’s performance.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $1,224,834,375. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

During the year ended December 31, 2021, the Fund utilized $799,546 in capital loss carry forwards (“CLCFs”) to offset capital gains. As of the end of its tax year ended December 31, 2021, the Fund had no remaining CLCFs.

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had multiple shareholder accounts which are affiliated with the Manager representing ownership in excess of 50% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

As a shareholder of the AZL MetWest Total Return Bond Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Shares or Principal Amount			Value
Rights (0.0%^†):
Telecommunications (0.0%^†):
	649	Intelsat Jackson Holdings SA, Expires on 1/2/23(a)	$	—
	649	Intelsat Jackson Holdings SA, Expires on 1/2/23(a)		—

				—

	Total Rights (Cost $—)			—

Asset Backed Securities (5.0%):
$	739,504	Ajax Mortgage Loan Trust, Class A1, Series 2019-F, 2.86%, 7/25/59, Callable 11/25/22 @ 100(b)(c)		714,598
	1,288,000	CWABS Asset-Backed Certificates Trust, Class MV5, Series 2005-7, 2.75%(US0001M+113bps), 11/25/35, Callable 7/25/22 @ 100		1,247,026
	1,380,151	CWABS Asset-Backed Certificates Trust, Class MV4, Series 2004-10, 3.20%(US0001M+158bps), 12/25/34, Callable 7/25/22 @ 100		1,240,999
	584,388	Firstkey Homes 2020 Sfr1 Trust, Class A, Series 2020-SFR1, 1.34%, 8/17/37(b)		542,616
	942,365	Navient Student Loan Trust, Class A3, Series 2016-2, 3.12%(US0001M+150bps), 6/25/65, Callable 2/25/34 @ 100(b)		949,346
	1,352,078	Park Place Securities, Inc. Pass-Through Certificates, Class M5, Series 2004-WWF1, 3.42%(US0001M+180bps), 12/25/34, Callable 7/25/22 @ 100		1,354,920
	623,118	SLC Student Loan Trust, Class 2A3, Series 2008-1, 3.43%(US0003M+160bps), 12/15/32, Callable 6/15/28 @ 100		629,411
	448,850	SLM Student Loan Trust, Class 2A3, Series 2003-7, 2.40%(US0003M+57bps), 9/15/39, Callable 12/15/29 @ 100		418,877
	1,220,000	SLM Student Loan Trust, Class 2A3, Series 2008-5, 3.03%(US0003M+185bps), 7/25/73, Callable 4/25/23 @ 100		1,184,351
	240,000	SLM Student Loan Trust, Class 2A3, Series 2008-9, 3.43%(US0003M+225bps), 10/25/83, Callable 7/25/23 @ 100		238,660
	500,966	SLM Student Loan Trust, Class A4, Series 2007-7, 1.51%(US0003M+33bps), 1/25/22, Callable 7/25/24 @ 100		492,096
	53,095	SLM Student Loan Trust, Class A, Series 2009-3, 2.37%(US0001M+75bps), 1/25/45, Callable 1/25/36 @ 100(b)		51,674
	553,815	SLM Student Loan Trust, Class A3, Series 2012-1, 2.57%(US0001M+95bps), 9/25/28, Callable 11/25/29 @ 100		534,770
	789,544	SLM Student Loan Trust, Class A4, Series 2008-6, 2.28%(US0003M+110bps), 7/25/23, Callable 10/25/25 @ 100		780,508
	277,421	SLM Student Loan Trust, Class A, Series 2008-9, 2.68%(US0003M+150bps), 4/25/23, Callable 7/25/23 @ 100		277,418
	1,220,956	Wachovia Student Loan Trust, Class 2A3, Series 2006-1, 1.35%(US0003M+17bps), 4/25/40, Callable 4/25/26 @ 100(b)		1,178,415

	Total Asset Backed Securities (Cost $12,154,921)			11,835,685


Principal Amount			Value
Collateralized Mortgage Obligations (10.4%):
$	750,000	AGL CLO 7, Ltd., Class BR, Series 2020-7A, 2.74%(US0003M+170bps), 7/15/34, Callable 7/15/23 @ 100(b)	$	708,641
	725,000	AIG CLO, Ltd., Class BR, Series 2019-2A, 2.78%(US0003M+160bps), 10/25/33, Callable 1/25/23 @ 100(b)		683,277
	850,000	AIMCO CLO, Class AR2, Series 2015-AA, 2.18%(US0003M+114bps), 10/17/34, Callable 10/17/23 @ 100(b)		813,838
	957,009	Alternative Loan Trust, Class 4A1, Series 2005-56, 2.24%(US0001M+31bps), 11/25/35, Callable 7/25/22 @ 100		870,472
	320,363	America Home Mortgage Investment Trust, Class 6A, Series 2005-1, 4.06%(US0006M+200bps), 6/25/45, Callable 7/25/22 @ 100		325,718
	515,000	BAMLL Commercial Mortgage Securities Trust, Class A, Series 2018-PARK, 4.23%, 8/10/38(b)(c)		499,231
	153,776	Banc of America Mortgage Trust, Class 2A3, Series 2005-F, 3.07%, 7/25/35, Callable 7/25/22 @ 100(c)		144,346
	525,000	Bx Commercial Mortgage Trust, Class A, Series 2022-CSMO, 2.86%(TSFR1M+211bps), 6/15/27(b)		517,778
	772,801	BX Commercial Mortgage Trust, Class A, Series 2019-XL, 2.24%(US0001M+92bps), 10/15/36(b)		759,238
	155,000	BX Trust, Class A, Series 2019-OC11, 3.20%, 12/9/41(b)		138,702
	355,000	CALI Mortgage Trust, Class A, Series 2019-101C, 3.96%, 3/10/39(b)		336,852
	731,302	C-BASS Mortgage Loan Trust, Class A2E, Series 2007-CB2, 3.57%, 2/25/37, Callable 3/25/23 @ 100(c)		516,311
	300,000	Century Plaza Towers, Class A, Series 2019-CPT, 2.87%, 11/13/39, Callable 11/13/29 @ 100(b)		264,066
	700,000	CIFC Funding VII, Ltd., Class A1, Series 2021-7A, 2.31%(US0003M+113bps), 1/23/35, Callable 1/23/24 @ 100(b)		676,726
	524,574	Citigroup Mortgage Loan Trust, Inc., Class 1A1A, Series 2007-AR5, 3.04%, 4/25/37, Callable 5/25/26 @ 100(c)		466,981
	634,786	Colt 2021 6 Mortgage Loan Trust, Class A1, Series 2021-6, 1.91%, 12/25/66, Callable 12/25/23 @ 100(b)(c)		587,503
	837,608	COMM Mortgage Trust, Class A3, Series 2015-CR27, 3.35%, 10/10/48, Callable 9/10/25 @ 100		814,515
	325,000	DC Office Trust, Class A, Series 2019-MTC, 2.97%, 9/15/45(b)		285,038
	346,037	First Horizon Alternative Mortgage Securities Trust, Class 2A1, Series 2006-AA1, 2.54%, 4/25/36, Callable 7/25/22 @ 100(c)		285,170
	434,693	First Horizon Alternative Mortgage Securities Trust, Class 1A1, Series 2006-AA1, 2.49%, 3/25/36, Callable 7/25/22 @ 100(c)		338,607
	375,249	First Horizon Alternative Mortgage Securities Trust, Class 2A1, Series 2005-AA12, 2.84%, 2/25/36, Callable 7/25/22 @ 100(c)		283,013


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	189,836	First Horizon Mortgage Pass-Through Trust, Class 2A1, Series 2005-AR3, 3.21%, 8/25/35, Callable 7/25/22 @ 100(c)	$	128,175
	332,883	GMAC Mortgage Corp. Loan Trust, Class 3A1, Series 2005-AR5, 3.49%, 9/19/35, Callable 7/19/22 @ 100(c)		302,271
	465,961	GMAC Mortgage Corp. Loan Trust, Class 1A1, Series 2006-AR1, 2.90%, 4/19/36, Callable 7/19/22 @ 100(c)		371,583
	825,182	GoldenTree Loan Opportunities IX, Ltd., Class AR2, Series 2014-9A, 2.35%(US0003M+111bps), 10/29/29, Callable 7/29/22 @ 100(b)		813,799
	572,890	GreenPoint Mortgage Funding Trust, Class A1A, Series 2006-AR1, 2.20%(US0001M+58bps), 2/25/36, Callable 7/25/22 @ 100		519,866
	1,135,000	GS Mortgage Securities Corp. II, Class A, Series 2021-ARDN, 2.57%(US0001M+125bps), 11/15/26(b)		1,112,767
	1,088,225	HarborView Mortgage Loan Trust, Class 1A1A, Series 2006-10, 1.81%(US0001M+20bps), 11/19/36, Callable 1/19/23 @ 100		914,851
	325,000	Hudson Yards Mortgage Trust, Class A, Series 2019-55HY, 3.04%, 12/10/41(b)(c)		288,311
	330,000	Hudson Yards Mortgage Trust, Class A, Series 2019-30HY, 3.23%, 6/10/37(b)		299,412
	701,000	J.P. Morgan Chase Commercial Mortgage Securities Trust, Class A, Series 2021-HTL5, 2.44%(US0001M+112bps), 11/15/38(b)		669,389
	325,000	J.P. Morgan Chase Commercial Mortgage Securities Trust, Class A, Series 2019-OSB, 3.40%, 6/5/39, Callable 6/5/29 @ 100(b)		298,080
	658,974	Merrill Lynch First Franklin Mortgage Loan Trust, Class 2A2, Series 2007-4, 1.74%(US0001M+12bps), 7/25/37, Callable 1/25/23 @ 100		341,180
	220,000	MKT Mortgage Trust, Class A, Series 2020-525M, 2.69%, 2/12/40(b)		189,482
	186,937	MortgageIT Trust, Class 2A3, Series 2005-2, 2.71%(US0001M+165bps), 5/25/35, Callable 7/25/22 @ 100		176,146
	193,577	Nomura Asset Acceptance Corp., Class 3A1, Series 2005-AR3, 5.69%, 7/25/35, Callable 7/25/22 @ 100(c)		197,629
	415,000	One Bryant Park Trust, Class A, Series 2019-OBP, 2.52%, 9/13/49(b)		361,623
	750,000	Palmer Square CLO, Ltd., Class A, Series 2022-1A, 1.79%(TSFR3M+132bps), 4/20/35, Callable 4/20/24 @ 100(b)		720,411
	750,000	Park Avenue Institutional Advisers CLO, Ltd., Class A1A, Series 2021-1A, 2.45%(US0003M+139bps), 1/20/34, Callable 1/20/23 @ 100(b)		734,576
	560,000	RBS Commercial Funding, Inc. Trust, Class A, Series 2013-GSP, 3.96%, 1/13/32(b)(c)		551,712
	800,000	Recette CLO, Ltd., Class ARR, Series 2015-1A, 2.14%(US0003M+108bps), 1/20/33, Callable 4/20/23 @ 100(b)		766,427
	703,342	Residential Accredit Loans, Inc., Class A2, Series 2006-QA10, 1.98%(US0001M+18bps), 12/25/36, Callable 7/25/22 @ 100		583,602


Principal Amount			Value
Collateralized Mortgage Obligations, continued
$	800,000	Rockford Tower CLO, Ltd., Class A1, Series 2021-1A, 2.23%(US0003M+117bps), 7/20/34, Callable 7/20/23 @ 100(b)	$	778,081
	1,094,520	Structured Asset Mortgage Investments II Trust, Class 3A1, Series 2006-AR1, 2.08%(US0001M+23bps), 2/25/36, Callable 7/25/22 @ 100		995,923
	590,372	Toorak Mortgage Corp. 2018 1, Ltd., Class A1, Series 2022-INV2, 4.35%, 6/25/57, Callable 5/25/25 @ 100(b)(c)		577,432
	327,983	WaMu Mortgage Pass-Through Certificates Trust, Class 2A1A, Series 2005-AR6, 2.08%(US0001M+23bps), 4/25/45, Callable 7/25/22 @ 100		316,517
	144,724	WaMu Mortgage Pass-Through Certificates Trust, Class A1A, Series 2004-AR10, 2.50%(US0001M+44bps), 7/25/44, Callable 7/25/22 @ 100		137,012
	283,197	WaMu Mortgage Pass-Through Certificates Trust, Class A2, Series 2005-AR3, 2.80%, 3/25/35, Callable 7/25/22 @ 100(c)		288,951
	928,368	WaMu Mortgage Pass-Through Certificates Trust, Class 2A1A, Series 2005-AR8, 2.20%(US0001M+29bps), 7/25/45, Callable 7/25/22 @ 100		867,399
	206,254	Wells Fargo Mortgage Backed Securities Trust, Class 1A1, Series 2006-AR12, 2.66%, 9/25/36, Callable 7/25/22 @ 100(c)		184,374

	Total Collateralized Mortgage Obligations (Cost $26,067,672)			24,803,004

Corporate Bonds (23.2%):
Aerospace & Defense (0.3%):
	605,000	Boeing Co. (The), 1.17%, 2/4/23, Callable 8/8/22 @ 100		595,039

Airlines (0.2%):
	405,788	U.S. Airways Pass Through Trust, Series 2010-1A, 6.25%, 10/22/24		403,759

Automobiles (0.5%):
	5,000	Magallanes, Inc., 4.28%, 3/15/32, Callable 12/15/31 @ 100(b)		4,468
	585,000	Magallanes, Inc., 5.05%, 3/15/42, Callable 9/15/41 @ 100(b)		498,160
	678,000	Magallanes, Inc., 5.14%, 3/15/52, Callable 9/15/51 @ 100(b)		572,804
	290,000	Michaels Cos., Inc. (The), 7.88%, 5/1/29, Callable 5/1/24 @ 103.94(b)		191,400

				1,266,832

Banks (4.7%):
	750,000	Bank of America Corp., 3.00% (US0003M+79 bps), 12/20/23, Callable 12/20/22 @ 100		747,586
	665,000	Bank of America Corp., 1.66% (SOFR+91 bps), 3/11/27, Callable 3/11/26 @ 100		597,286
	415,000	Bank of America Corp., 3.42% (US0003M+104 bps), 12/20/28, Callable 12/20/27 @ 100		387,205
	470,000	Bank of America Corp., 3.97% (US0003M+107 bps), 3/5/29, Callable 3/5/28 @ 100, MTN		448,928
	760,000	Bank of America Corp., 2.09% (SOFR+106 bps), 6/14/29, Callable 6/14/28 @ 100		654,807


Principal Amount			Value
Corporate Bonds, continued
Banks, continued
$	100,000	Bank of America Corp., 2.59% (SOFR+215 bps), 4/29/31, Callable 4/29/30 @ 100	$	85,348
	295,000	Bank of America Corp., 1.92% (SOFR+137 bps), 10/24/31, Callable 10/24/30 @ 100, MTN		235,993
	85,000	Bank of America Corp., 2.69% (SOFR+132 bps), 4/22/32, Callable 4/22/31 @ 100		71,570
	170,000	Bank of America Corp., 2.30% (SOFR+122 bps), 7/21/32, Callable 7/21/31 @ 100		137,695
	250,000	Bank of America Corp., 2.57% (SOFR+121 bps), 10/20/32, Callable 10/20/31 @ 100		206,486
	135,000	Citigroup, Inc., 3.07% (SOFR+128 bps), 2/24/28, Callable 2/24/27 @ 100		125,931
	140,000	Citigroup, Inc., 2.67% (SOFR+115 bps), 1/29/31, Callable 1/29/30 @ 100		119,227
	630,000	Citigroup, Inc., 4.41% (SOFR+391 bps), 3/31/31, Callable 3/31/30 @ 100		602,778
	350,000	Citigroup, Inc., 2.57% (SOFR+211 bps), 6/3/31, Callable 6/3/30 @ 100		293,968
	210,000	Citigroup, Inc., 2.56% (SOFR+117 bps), 5/1/32, Callable 5/1/31 @ 100		173,290
	555,000	Citigroup, Inc., 3.06% (SOFR+135 bps), 1/25/33, Callable 1/25/32 @ 100		471,353
	115,000	Citigroup, Inc., 3.79% (SOFR+194 bps), 3/17/33, Callable 3/17/32 @ 100		103,560
	145,000	JPMorgan Chase & Co., 0.70% (SOFR+58 bps), 3/16/24, Callable 3/16/23 @ 100		141,748
	1,210,000	JPMorgan Chase & Co., 0.97% (SOFR+58 bps), 6/23/25, Callable 6/23/24 @ 100		1,133,412
	305,000	JPMorgan Chase & Co., 2.30% (SOFR+116 bps), 10/15/25, Callable 10/15/24 @ 100		291,742
	455,000	JPMorgan Chase & Co., 1.56% (SOFR+61 bps), 12/10/25, Callable 12/10/24 @ 100		426,907
	445,000	JPMorgan Chase & Co., 1.58% (SOFR+89 bps), 4/22/27, Callable 4/22/26 @ 100		397,199
	180,000	JPMorgan Chase & Co., 2.95% (SOFR+117 bps), 2/24/28, Callable 2/24/27 @ 100		167,369
	445,000	JPMorgan Chase & Co., 2.58% (SOFR+125 bps), 4/22/32, Callable 4/22/31 @ 100		373,529
	275,000	JPMorgan Chase & Co., 2.55% (SOFR+118 bps), 11/8/32, Callable 11/8/31 @ 100		228,239
	405,000	Wells Fargo & Co., 2.16% (US0003M+75 bps), 2/11/26, Callable 2/11/25 @ 100, MTN		381,277
	385,000	Wells Fargo & Co., 3.53% (SOFR+151 bps), 3/24/28, Callable 3/24/27 @ 100		365,281
	410,000	Wells Fargo & Co., 3.58% (US0003M+131 bps), 5/22/28, Callable 5/22/27 @ 100, MTN		389,671
	185,000	Wells Fargo & Co., 2.39% (SOFR+210 bps), 6/2/28, Callable 6/2/27 @ 100, MTN		165,709
	200,000	Wells Fargo & Co., 2.88% (US0003M+117 bps), 10/30/30, Callable 10/30/29 @ 100, MTN		175,975
	1,260,000	Wells Fargo & Co., 3.35% (SOFR+150 bps), 3/2/33, Callable 3/2/32 @ 100, MTN		1,118,081

				11,219,150

Beverages (0.4%):
	350,000	Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.70%, 2/1/36, Callable 8/1/35 @ 100		338,567


Principal Amount			Value
Corporate Bonds, continued
Beverages, continued
$	360,000	Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 2/1/46, Callable 8/1/45 @ 100	$	340,455
	250,000	Constellation Brands, Inc., 4.75%, 5/9/32, Callable 2/9/32 @ 100		247,456

				926,478

Biotechnology (0.4%):
	428,000	AbbVie, Inc., 4.55%, 3/15/35, Callable 9/15/34 @ 100		422,128
	293,000	AbbVie, Inc., 4.50%, 5/14/35, Callable 11/14/34 @ 100		285,094
	35,000	AbbVie, Inc., 4.45%, 5/14/46, Callable 11/14/45 @ 100		31,961
	135,000	Amgen, Inc., 4.40%, 2/22/62, Callable 8/22/61 @ 100		117,380

				856,563

Capital Markets (2.7%):
	135,000	Charles Schwab Corp. (The), 2.90%, 3/3/32, Callable 12/3/31 @ 100		118,979
	115,000	Goldman Sachs Group, Inc., 1.99% (SOFFRATE+1 bps), 1/27/32, Callable 1/27/31 @ 100		91,302
	735,000	Goldman Sachs Group, Inc. (The), 1.22%, 12/6/23, Callable 12/6/22 @ 100		709,794
	180,000	Goldman Sachs Group, Inc. (The), 1.09% (SOFR+79 bps), 12/9/26, Callable 12/9/25 @ 100		160,741
	885,000	Goldman Sachs Group, Inc. (The), 1.43% (SOFR+80 bps), 3/9/27, Callable 3/9/26 @ 100		786,808
	450,000	Goldman Sachs Group, Inc. (The), 1.54% (SOFR+82 bps), 9/10/27, Callable 9/10/26 @ 100		396,990
	570,000	Goldman Sachs Group, Inc. (The), 1.95% (SOFR+91 bps), 10/21/27, Callable 10/21/26 @ 100		507,868
	345,000	Goldman Sachs Group, Inc. (The), 2.38% (SOFR+125 bps), 7/21/32, Callable 7/21/31 @ 100		279,544
	170,000	Goldman Sachs Group, Inc. The, 2.65% (SOFR+126 bps), 10/21/32, Callable 10/21/31 @ 100		139,618
	320,000	Intercontinental Exchange, Inc., 4.60%, 3/15/33, Callable 12/15/32 @ 100		319,039
	155,000	ModivCare Escrow Issuer, Inc., 5.00%, 10/1/29, Callable 10/1/24 @ 102.5(b)		125,550
	835,000	Morgan Stanley, 0.79% (SOFR+53 bps), 5/30/25, Callable 5/30/24 @ 100		780,277
	195,000	Morgan Stanley, 1.16% (SOFR+56 bps), 10/21/25, Callable 10/21/24 @ 100, MTN		180,834
	445,000	Morgan Stanley, 1.59% (SOFR+88 bps), 5/4/27, Callable 5/4/26 @ 100		395,557
	330,000	Morgan Stanley, 1.93% (SOFR+102 bps), 4/28/32, Callable 4/28/31 @ 100, MTN		261,992
	115,000	Morgan Stanley, 2.24% (SOFR+118 bps), 7/21/32, Callable 7/21/31 @ 100, MTN		93,306
	250,000	Morgan Stanley, 2.51% (SOFR+120 bps), 10/20/32, Callable 10/20/31 @ 100, MTN		207,218
	165,000	Morgan Stanley, 5.30% (SOFR+262 bps), 4/20/37, Callable 4/20/32 @ 100		159,600
	255,000	Raymond James Financial, 4.95%, 7/15/46		251,287
	295,000	S&P Global, Inc., 4.75%, 8/1/28, Callable 5/1/28 @ 100(b)		300,103


Principal Amount			Value
Corporate Bonds, continued
Capital Markets, continued
$	250,000	SL Green Operating Partnership LP, 3.25%, 10/15/22, Callable 9/15/22 @ 100	$	249,450

				6,515,857

Chemicals (0.2%):
	312,000	International Flavors & Fragrances, Inc., 2.30%, 11/1/30, Callable 8/1/30 @ 100(b)		257,991
	135,000	Valvoline, Inc., 3.63%, 6/15/31, Callable 6/15/26 @ 101.81(b)		107,325

				365,316

Commercial Services & Supplies (0.1%):
	150,000	Waste Pro USA, Inc., 5.50%, 2/15/26, Callable 8/8/22 @ 102.75(b)		131,250

Communications Equipment (0.1%):
	275,000	CommScope, Inc., 4.75%, 9/1/29, Callable 9/1/24 @ 102.38(b)		221,375

Consumer Finance (0.3%):
	385,000	Capital One Financial Corp., 3.27% (SOFR+179 bps), 3/1/30, Callable 3/1/29 @ 100		340,846
	145,000	FirstCash, Inc., 5.63%, 1/1/30, Callable 1/1/25 @ 102.81(b)		125,425
	155,000	General Motors Financial Co., Inc., 3.55%, 7/8/22		155,004

				621,275

Consumer Staple Products (0.1%):
	100,000	Chobani LLC / Chobani Finance Corp., Inc., 4.63%, 11/15/28, Callable 11/15/23 @ 102.31(b)		84,250
	255,000	Jbs USA Lux SA Jbs USA Food Co., 6.50%, 12/1/52, Callable 6/1/52 @ 100(b)		240,019

				324,269

Containers & Packaging (0.4%):
	135,000	Ardagh Packaging Finance plc/Ardagh Holdings USA, Inc., 5.25%, 8/15/27, Callable 8/15/22 @ 102.63(b)		95,512
	135,000	Ardagh Packaging Finance plc/Ardagh Holdings USA, Inc., 5.25%, 8/15/27, Callable 8/15/22 @ 102.63(b)		94,838
	200,000	Ball Corp., 4.00%, 11/15/23		197,500
	500,000	Berry Global, Inc., 1.57%, 1/15/26, Callable 12/15/25 @ 100		445,625
	90,000	Berry Global, Inc., 4.88%, 7/15/26, Callable 8/8/22 @ 102.44(b)		85,612
	110,000	Graphic Packaging International LLC, 4.75%, 7/15/27, Callable 4/15/27 @ 100(b)		103,675
	25,000	Mauser Packaging Solutions Holding Co., 5.50%, 4/15/24, Callable 8/8/22 @ 100(b)		23,813

				1,046,575

Diversified Financial Services (0.8%):
	600,000	Amcor Finance USA, Inc., 3.63%, 4/28/26, Callable 1/28/26 @ 100		576,723
	410,000	Berkshire Hathaway Finance Corp., 3.85%, 3/15/52, Callable 9/15/51 @ 100		353,861
	80,000	Level 3 Financing, Inc., 3.40%, 3/1/27, Callable 1/1/27 @ 100(b)		69,500
	300,000	Level 3 Financing, Inc., 3.63%, 1/15/29, Callable 1/15/24 @ 101.81(b)		231,000
	625,000	Level 3 Financing, Inc., 3.88%, 11/15/29, Callable 8/15/29 @ 100(b)		518,750


Principal Amount			Value
Corporate Bonds, continued
Diversified Financial Services, continued
$	300,000	Venture Global Calcasieu Pass LLC, 3.88%, 8/15/29, Callable 2/15/29 @ 100(b)	$	260,250

				2,010,084

Diversified Telecommunication Services (1.1%):
	287,000	AT&T, Inc., 2.55%, 12/1/33, Callable 9/1/33 @ 100		232,639
	290,000	AT&T, Inc., 4.50%, 5/15/35, Callable 11/15/34 @ 100		275,533
	255,000	AT&T, Inc., 4.30%, 12/15/42, Callable 6/15/42 @ 100		223,556
	125,000	AT&T, Inc., 4.75%, 5/15/46, Callable 11/15/45 @ 100		116,278
	1,115,000	AT&T, Inc., 3.80%, 12/1/57, Callable 6/1/57 @ 100		867,657
	64,000	CenturyLink, Inc., 4.00%, 2/15/27, Callable 2/15/23 @ 102(b)		53,920
	250,000	Lumen Technologies, Inc., 5.38%, 6/15/29, Callable 6/15/24 @ 102.69(b)		196,250
	175,000	Qwest Corp., 7.25%, 9/15/25		180,278
	305,000	Verizon Communications, Inc., 2.55%, 3/21/31, Callable 12/21/30 @ 100		261,581
	147,000	Zayo Group Holdings, Inc., 4.00%, 3/1/27, Callable 8/8/22 @ 100(b)		121,643

				2,529,335

Electric Utilities (1.2%):
	280,000	American Transmission Systems, Inc., 5.00%, 9/1/44, Callable 3/1/44 @ 100(b)		273,154
	500,000	Appalachian Power Co., Series H, 5.95%, 5/15/33		532,749
	1,000,000	Duke Energy Progress, Inc., 4.15%, 12/1/44, Callable 6/1/44 @ 100		898,758
	355,000	Florida Power & Light Co., 3.99%, 3/1/49, Callable 9/1/48 @ 100		329,003
	750,000	Jersey Central Power & Light Co., 6.40%, 5/15/36		801,708

				2,835,372

Electrical Equipment (0.0%^†):
	82,000	Artera Services LLC, 9.03%, 12/4/25, Callable 2/4/23 @ 104.52(b)		66,215

Entertainment (0.2%):
	115,000	Netflix, Inc., 4.63%, 5/15/29+		113,311
	260,000	Take Two Interactive Software, Inc., 4.00%, 4/14/32, Callable 1/14/32 @ 100		245,090
	285,000	Walt Disney Co. (The), 3.60%, 1/13/51, Callable 7/13/50 @ 100		239,302

				597,703

Equity Real Estate Investment Trusts (0.8%):
	590,000	American Campus Communities Operating Partnership LP, 3.63%, 11/15/27, Callable 8/15/27 @ 100		580,584
	180,000	GLP Capital LP / GLP Financing II, Inc., 5.25%, 6/1/25, Callable 3/1/25 @ 100		177,041
	460,000	GLP Capital LP / GLP Financing II, Inc., 5.38%, 4/15/26, Callable 1/15/26 @ 100		450,983
	105,000	GLP Capital LP / GLP Financing II, Inc., 5.75%, 6/1/28, Callable 3/3/28 @ 100		103,249
	290,000	GLP Capital LP / GLP Financing II, Inc., 5.30%, 1/15/29, Callable 10/15/28 @ 100		277,491
	5,000	GLP Capital LP / GLP Financing II, Inc., 4.00%, 1/15/30, Callable 10/15/29 @ 100		4,401


Principal Amount			Value
Corporate Bonds, continued
Equity Real Estate Investment Trusts, continued
$	110,000	Healthcare Trust of America Holdings LP, 3.10%, 2/15/30, Callable 11/15/29 @ 100	$	95,034
	250,000	VICI Properties LP, 5.13%, 5/15/32, Callable 2/15/32 @ 100		235,000

				1,923,783

Food Products (0.6%):
	265,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 3.00%, 2/2/29, Callable 12/2/28 @ 100(b)		224,588
	16,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 6.50%, 4/15/29, Callable 4/15/24 @ 103.25(b)		16,100
	30,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 5.50%, 1/15/30, Callable 1/15/25 @ 102.75(b)		28,350
	130,000	JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 3.75%, 12/1/31, Callable 12/1/26 @ 101.88(b)		107,088
	790,000	Kraft Heinz Foods Co., 4.88%, 10/1/49, Callable 4/1/49 @ 100		700,145
	25,000	Pilgrim’s Pride Corp., 5.88%, 9/30/27, Callable 9/30/22 @ 102.94(b)		23,875
	367,000	Post Holdings, Inc., 5.75%, 3/1/27, Callable 7/22/22 @ 102.88(b)		355,072

				1,455,218

Health Care Equipment & Supplies (0.3%):
	455,000	Becton Dickinson And Co., 1.96%, 2/11/31, Callable 11/11/30 @ 100		368,349
	280,000	Embecta Corp., 5.00%, 2/15/30, Callable 2/15/27 @ 101.25(b)		238,000

				606,349

Health Care Providers & Services (2.1%):
	200,000	Aetna, Inc., 3.50%, 11/15/24, Callable 8/15/24 @ 100		198,054
	140,000	Centene Corp., 4.25%, 12/15/27, Callable 12/15/22 @ 102.13		130,200
	83,000	Centene Corp., 2.45%, 7/15/28, Callable 5/15/28 @ 100		69,305
	569,000	Centene Corp., 3.00%, 10/15/30, Callable 7/15/30 @ 100		469,425
	780,000	Cigna Corp., 4.13%, 11/15/25, Callable 9/15/25 @ 100		782,111
	290,000	CommonSpirit Health, 2.78%, 10/1/30, Callable 4/1/30 @ 100		252,241
	400,000	CVS Health Corp., 4.88%, 7/20/35, Callable 1/20/35 @ 100		397,922
	525,000	CVS Health Corp., 5.05%, 3/25/48, Callable 9/25/47 @ 100		504,733
	275,000	Encompass Health Corp., 4.63%, 4/1/31, Callable 4/1/26 @ 102.31		221,719
	93,000	HCA, Inc., 5.25%, 4/15/25		93,233
	110,000	HCA, Inc., 5.25%, 6/15/26, Callable 12/15/25 @ 100		110,000
	640,000	HCA, Inc., 4.13%, 6/15/29, Callable 3/15/29 @ 100		583,200
	90,000	HCA, Inc., 2.38%, 7/15/31, Callable 4/15/31 @ 100		70,544
	255,000	HCA, Inc., 5.50%, 6/15/47, Callable 12/15/46 @ 100		230,775


Principal Amount			Value
Corporate Bonds, continued
Health Care Providers & Services, continued
$	145,000	HCA, Inc., 5.25%, 6/15/49, Callable 12/15/48 @ 100	$	127,600
	365,000	HCA, Inc., 4.63%, 3/15/52, Callable 9/15/51 @ 100(b)		293,779
	75,000	Humana, Inc., 4.95%, 10/1/44, Callable 4/1/44 @ 100		73,390
	409,000	Molina Healthcare, Inc., 3.88%, 11/15/30, Callable 8/17/30 @ 100(b)		349,695
	150,000	Option Care Health, Inc., 4.38%, 10/31/29, Callable 10/31/24 @ 102.19(b)		128,250

				5,086,176

Health Care Technology (0.0%^†):
	23,000	Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 5.75%, 3/1/25, Callable 7/18/22 @ 100(b)		22,482

Hotels, Restaurants & Leisure (0.1%):
	125,000	Papa John S International, 3.88%, 9/15/29, Callable 9/15/24 @ 101.94(b)		102,187
	275,000	Starbucks Corp., 3.00%, 2/14/32, Callable 11/14/31 @ 100		239,584

				341,771

Household Products (0.1%):
	275,000	Spectrum Brands, Inc., 5.50%, 7/15/30, Callable 7/15/25 @ 102.75(b)		247,844

Industrial Conglomerates (0.1%):
	103,000	General Electric Co., Series A, 6.75%, 3/15/32		115,505

Insurance (0.9%):
	135,000	Aon Corp. / Aon Global Holdings plc, 3.90%, 2/28/52, Callable 8/28/51 @ 100		111,432
	225,000	Athene Global Funding, 1.01% (SOFR+70 bps), 5/24/24(b)		218,485
	125,000	Athene Global Funding, 3.21%, 3/8/27(b)		113,863
	375,000	Athene Global Funding, 1.99%, 8/19/28(b)		311,619
	130,000	Athene Global Funding, 2.72%, 1/7/29(b)		111,624
	700,000	Farmers Exchange Capital III, 5.45% (US0003M+345 bps), 10/15/54, Callable 10/15/34 @ 100(b)		709,976
	670,000	Farmers Insurance Exchange, 4.75% (US0003M+323 bps), 11/1/57, Callable 11/1/37 @ 100(b)		620,541

				2,197,540

IT Services (0.0%^†):
	80,000	Colt Merger Sub, Inc., 8.13%, 7/1/27, Callable 7/1/23 @ 104.06(b)		77,000

Media (0.8%):
	290,000	Cable One, Inc., 4.00%, 11/15/30, Callable 11/15/25 @ 102(b)		236,350
	208,000	CCO Holdings LLC / CCO Holdings Capital Corp., 4.75%, 2/1/32, Callable 2/1/27 @ 102.38(b)		170,300
	499,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 5.75%, 4/1/48, Callable 10/1/47 @ 100		449,178
	35,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 4.80%, 3/1/50, Callable 9/1/49 @ 100		27,931
	380,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 5.25%, 4/1/53, Callable 10/1/52 @ 100		324,562


Principal Amount			Value
Corporate Bonds, continued
Media, continued
$	30,000	CSC Holdings LLC, 5.38%, 2/1/28, Callable 2/1/23 @ 102.69(b)	$	26,175
	490,000	CSC Holdings LLC, 4.13%, 12/1/30, Callable 12/1/25 @ 102.06(b)		374,850
	465,000	Diamond Sports Group LLC / Diamond Sports Finance Co., 5.38%, 8/15/26, Callable 8/15/22 @ 102.69(b)		113,925
	120,000	Time Warner Cable LLC, 5.88%, 11/15/40, Callable 5/15/40 @ 100		110,595
	125,000	Time Warner Cable LLC, 5.50%, 9/1/41, Callable 3/1/41 @ 100		109,493

				1,943,359

Oil, Gas & Consumable Fuels (0.8%):
	210,000	Energy Transfer LP, 5.50%, 6/1/27, Callable 3/1/27 @ 100		212,362
	264,000	Energy Transfer LP, 4.95%, 6/15/28, Callable 3/15/28 @ 100		260,370
	670,000	Energy Transfer LP, 5.40%, 10/1/47, Callable 4/1/47 @ 100		589,600
	55,000	Enterprise Products Operating LLC, 5.10%, 2/15/45, Callable 8/15/44 @ 100		51,974
	18,000	Exxon Mobil Corp., 4.33%, 3/19/50, Callable 9/19/49 @ 100		17,105
	163,000	Occidental Petroleum Corp., 7.29%, 10/10/36(d)		79,259
	200,000	Occidental Petroleum Corp., 4.50%, 7/15/44, Callable 1/15/44 @ 100		159,000
	250,000	Rockies Express Pipeline LLC, 4.95%, 7/15/29, Callable 4/15/29 @ 100(b)		213,750
	250,000	Rockies Express Pipeline LLC, 4.80%, 5/15/30, Callable 2/15/30 @ 100(b)		207,500
	89,000	Sunoco LP / Sunoco Finance Corp., 4.50%, 4/30/30, Callable 4/30/25 @ 102.25(b)		73,870

				1,864,790

Pharmaceuticals (0.7%):
	90,000	Bayer US Finance II LLC, 4.25%, 12/15/25, Callable 10/15/25 @ 100(b)		88,933
	955,000	Bayer US Finance II LLC, 4.38%, 12/15/28, Callable 9/15/28 @ 100(b)		928,085
	490,000	Bayer US Finance II LLC, 4.63%, 6/25/38, Callable 12/25/37 @ 100(b)		445,876
	160,000	Bayer US Finance II LLC, 4.88%, 6/25/48, Callable 12/25/47 @ 100(b)		144,413
	317,000	Endo Dac / Endo Finance LLC / Endo Finco, Inc., 6.00%, 6/30/28, Callable 6/30/23 @ 104.5(b)		24,568

				1,631,875

Real Estate (0.3%):
	180,000	Healthcare Trust of America Holdings, LP, 2.00%, 3/15/31, Callable 12/15/30 @ 100		139,854
	15,000	VICI Properties LP, 4.95%, 2/15/30, Callable 12/15/29 @ 100		14,081
	20,000	VICI Properties LP / VICI Note Co., Inc., 4.63%, 6/15/25, Callable 3/15/25 @ 100(b)		19,025
	75,000	VICI Properties LP / VICI Note Co., Inc., 4.50%, 9/1/26, Callable 6/1/26 @ 100(b)		69,000
	15,000	Vici Properties Vici Note, 3.75%, 2/15/27, Callable 2/15/23 @ 101.88(b)		13,425


Principal Amount			Value
Corporate Bonds, continued
Real Estate, continued
$	132,000	Vici Properties, LP, 5.63%, 5/15/52, Callable 11/15/51 @ 100	$	121,110
	90,000	Vici Properties, LP Vici Note Co., Inc., 5.75%, 2/1/27, Callable 11/1/26 @ 100(b)		87,075
	45,000	Vici Properties, LP Vici Note Co., Inc., 4.50%, 1/15/28, Callable 10/15/27 @ 100(b)		40,781
	130,000	Vici Properties, LP Vici Note Co., Inc., 3.88%, 2/15/29, Callable 11/15/28 @ 100(b)		111,475

				615,826

Semiconductors & Semiconductor Equipment (0.1%):
	130,000	Broadcom, Inc., 4.30%, 11/15/32, Callable 8/15/32 @ 100		118,231
	140,000	Broadcom, Inc., 3.42%, 4/15/33, Callable 1/15/33 @ 100(b)		115,925

				234,156

Software (0.2%):
	70,000	Oracle Corp., 2.88%, 3/25/31, Callable 12/25/30 @ 100		57,767
	70,000	Oracle Corp., 3.80%, 11/15/37, Callable 5/15/37 @ 100		55,417
	565,000	Oracle Corp., 3.95%, 3/25/51, Callable 9/25/50 @ 100		414,948

				528,132

Textiles, Apparel & Luxury Goods (0.0%^†):
	25,000	USA Compression Partners LP/USA Compression Finance Corp., 6.88%, 4/1/26, Callable 8/8/22 @ 103.44		22,562

Tobacco (0.5%):
	625,000	BAT Capital Corp., 4.54%, 8/15/47, Callable 2/15/47 @ 100		460,317
	130,000	BAT Capital Corp., 5.65%, 3/16/52, Callable 9/16/51 @ 100		112,796
	610,000	Reynolds American, Inc., 5.85%, 8/15/45, Callable 2/15/45 @ 100		514,278

				1,087,391

Utilities (0.1%):
	265,000	NextEra Energy Capital Holdings, Inc., 4.63%, 7/15/27, Callable 6/15/27 @ 100		268,695

Wireless Telecommunication Services (1.0%):
	27,000	Sprint Corp., 7.88%, 9/15/23		27,844
	845,627	Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC, 4.74%, 3/20/25, Callable 3/20/24 @ 100(b)		849,305
	235,000	T-Mobile USA, Inc., 2.25%, 2/15/26, Callable 2/15/23 @ 101.13		211,268
	444,000	T-Mobile USA, Inc., 2.63%, 4/15/26, Callable 4/15/23 @ 101.31		404,189
	205,000	T-Mobile USA, Inc., 3.75%, 4/15/27, Callable 2/15/27 @ 100		197,420
	280,000	T-Mobile USA, Inc., 3.88%, 4/15/30, Callable 1/15/30 @ 100		262,086
	222,000	T-Mobile USA, Inc., 2.55%, 2/15/31, Callable 11/15/30 @ 100		186,977


Principal Amount			Value
Corporate Bonds, continued
Wireless Telecommunication Services, continued
$	395,000	T-Mobile USA, Inc., 4.38%, 4/15/40, Callable 10/15/39 @ 100	$	352,636

				2,491,725

	Total Corporate Bonds (Cost $62,037,382)			55,294,626

Yankee Debt Obligations (7.5%):
Aerospace & Defense (0.2%):
	345,000	Avolon Holdings Funding, Ltd., 2.88%, 2/15/25, Callable 1/15/25 @ 100(b)		316,537
	355,000	Avolon Holdings Funding, Ltd., 2.53%, 11/18/27, Callable 10/18/27 @ 100(b)		291,987

				608,524

Banks (2.1%):
	450,000	DNB Bank ASA, 1.60% (H15T1Y+68 bps), 3/30/28, Callable 3/30/27 @ 100(b)		391,421
	450,000	HSBC Holdings plc, 2.10% (SOFR+193 bps), 6/4/26, Callable 6/4/25 @ 100		416,261
	440,000	HSBC Holdings plc, 2.01% (SOFR+173 bps), 9/22/28, Callable 9/22/27 @ 100		376,614
	410,000	HSBC Holdings plc, 2.21% (SOFR+129 bps), 8/17/29, Callable 8/17/28 @ 100		345,526
	305,000	HSBC Holdings plc, 2.80% (SOFR+119 bps), 5/24/32, Callable 5/24/31 @ 100		251,323
	295,000	HSBC Holdings PLC, 4.75% (SOFR+211 bps), 6/9/28, Callable 6/9/27 @ 100		287,940
	155,000	Lloyds Banking Group plc, 2.91% (US0003M+81 bps), 11/7/23, Callable 11/7/22 @ 100		154,493
	145,000	Lloyds Banking Group plc, 3.87% (H15T1Y+4 bps), 7/9/25, Callable 7/9/24 @ 100		142,851
	450,000	Lloyds Banking Group plc, 1.63% (H15T1Y+85 bps), 5/11/27, Callable 5/11/26 @ 100		400,157
	200,000	Lloyds Banking Group plc, 3.75% (H15T1Y+180 bps), 3/18/28, Callable 3/18/27 @ 100		190,009
	545,000	NatWest Group plc, 4.27% (US0003M+176 bps), 3/22/25, Callable 3/22/24 @ 100		538,761
	390,000	Santander UK Group Holdings plc, 4.80% (US0003M+157 bps), 11/15/24, Callable 11/15/23 @ 100		391,003
	590,000	Santander UK Group Holdings plc, 1.09% (SOFR+79 bps), 3/15/25, Callable 3/15/24 @ 100		551,852
	45,000	Santander UK Group Holdings plc, 1.53% (H15T1Y+125 bps), 8/21/26, Callable 8/21/25 @ 100		40,326
	30,000	Santander UK Group Holdings plc, 1.67% (SOFR+99 bps), 6/14/27, Callable 6/14/26 @ 100		26,288
	410,000	Santander UK plc, 5.00%, 11/7/23(b)		412,972

				4,917,797

Beverages (0.1%):
	275,000	Bacardi, Ltd., 4.45%, 5/15/25, Callable 3/15/25 @ 100(b)		272,728

Biotechnology (0.1%):
	275,000	Grifols Escrow Issuer SA, 4.75%, 10/15/28, Callable 10/15/24 @ 102.38(b)		238,562


Principal Amount			Value
Yankee Debt Obligations, continued
Capital Markets (0.9%):
$	380,000	Credit Suisse Group AG, 2.59% (SOFR+156 bps), 9/11/25, Callable 9/11/24 @ 100(b)	$	357,421
	625,000	Credit Suisse Group AG, 2.19% (SOFR+204 bps), 6/5/26, Callable 6/5/25 @ 100(b)		568,531
	185,000	Credit Suisse Group AG, 1.30% (SOFR+98 bps), 2/2/27, Callable 2/2/26 @ 100(b)		159,670
	280,000	Credit Suisse Group AG, 3.09% (SOFR+173 bps), 5/14/32, Callable 5/14/31 @ 100(b)		224,077
	165,000	Macquarie Group, Ltd., 2.69% (SOFR+144 bps), 6/23/32, Callable 6/23/31 @ 100(b)		132,799
	570,000	Macquarie Group, Ltd., 2.87% (SOFR+153 bps), 1/14/33, Callable 1/14/32 @ 100(b)		466,959
	170,000	Macquarie Group, Ltd., 4.44% (SOFR+241 bps), 6/21/33, Callable 6/21/32 @ 100(b)		158,520
	200,000	UBS Group AG, 4.49% (H15T1Y+155 bps), 5/12/26, Callable 5/12/25 @ 100(b)		199,455

				2,267,432

Containers & Packaging (0.1%):
	270,000	Trivium Packaging Finance BV, 5.50%, 8/15/26, Callable 8/15/22 @ 102.75(b)		253,800

Diversified Financial Services (0.3%):
	394,000	GE Capital International Funding, 4.42%, 11/15/35		369,986
	285,000	Park Aerospace Holdings, 4.50%, 3/15/23, Callable 2/15/23 @ 100(b)		285,000
	72,000	Park Aerospace Holdings, 5.50%, 2/15/24(b)		71,190
	223,000	Shell International Finance BV, 4.00%, 5/10/46		199,069

				925,245

Energy Equipment & Services (0.0%^†):
	111,150	Transocean Phoenix 2, Ltd., 7.75%, 10/15/24, Callable 8/8/22 @ 102.58(b)		106,704
	113,438	Transocean Poseidon, Ltd., 6.88%, 2/1/27, Callable 8/8/22 @ 105.16(b)		101,243
	31,050	Transocean Proteus, Ltd., 6.25%, 12/1/24, Callable 8/8/22 @ 102.08(b)		29,342

				237,289

Food & Staples Retailing (0.2%):
	475,000	Alimentation Couche-Tard, Inc., 3.55%, 7/26/27, Callable 4/26/27 @ 100(b)		442,344

Hotels, Restaurants & Leisure (0.1%):
	300,000	1011778 BC ULC / New Red Finance, Inc., 4.00%, 10/15/30, Callable 10/15/25 @ 102(b)		243,000

Industrial Services (0.1%):
	290,000	Airport Authority, 3.25%, 1/12/52, Callable 7/12/51 @ 100(b)		231,414

Interactive Media & Services (0.1%):
	295,000	Tencent Holdings, Ltd., 3.68%, 4/22/41, Callable 10/22/40 @ 100(b)		237,664

Metals & Mining (0.1%):
	200,000	Indonesia Asahan Aluminium Persero PT, 6.53%, 11/15/28(b)		202,750

National (0.1%):
	200,000	Republic of South Africa Government International, 5.88%, 4/20/32		170,764


Principal Amount			Value
Yankee Debt Obligations, continued
Oil, Gas & Consumable Fuels (0.5%):
$	200,000	Ecopetrol SA, 6.88%, 4/29/30, Callable 1/29/30 @ 100	$	176,000
	200,000	KazMunayGas National Co. JSC, 5.38%, 4/24/30		176,500
	630,000	Petroleos Mexicanos, 6.75%, 9/21/47		386,124
	120,000	Petroleos Mexicanos, 7.69%, 1/23/50, Callable 7/23/49 @ 100		80,434
	85,000	Petroleos Mexicanos, 6.95%, 1/28/60, Callable 7/28/59 @ 100		52,729
	200,000	Petronas Capital, Ltd., 3.50%, 4/21/30, Callable 1/21/30 @ 100(b)		187,504

				1,059,291

Sovereign Bond (1.3%):
	400,000	Abu Dhabi Government International, 2.50%, 9/30/29		368,220
	200,000	Arab Republic of Egypt, 7.60%, 3/1/29(b)		146,001
	200,000	Brazilian Government International Bond, 3.88%, 6/12/30		167,796
	200,000	Chile Government International Bond, 3.24%, 2/6/28, Callable 11/6/27 @ 100		188,040
	200,000	Dominican Republic International Bond, 4.50%, 1/30/30(b)		158,750
	225,000	Mexico Government International Bond, 3.75%, 1/11/28		214,825
	200,000	Panama Government International Bond, 3.16%, 1/23/30, Callable 10/23/29 @ 100		176,750
	200,000	Paraguay Government International Bond, 4.70%, 3/27/27		191,500
	200,000	Peruvian Government International Bond, 2.84%, 6/20/30		173,840
	200,000	Qatar Government International Bond, 4.50%, 4/23/28		207,490
	200,000	Republic of Colombia, 3.00%, 1/30/30, Callable 10/30/29 @ 100		151,195
	20,000	Republic of Peru, 4.13%, 8/25/27		19,574
	200,000	Saudi Government International Bond, 3.25%, 10/26/26		195,626
	200,000	Saudi Government International Bond, 3.63%, 3/4/28		197,480

				2,557,087

Telecommunications (0.3%):
	6,202	Intelsat, 0.00%		169,005
	540,000	Intelsat, 0.00%(a)(e)		—
	111,000	Intelsat, 0.00%(a)(e)		—
	690,000	Intelsat Jackson Holdings SA, 6.50%, 3/15/30, Callable 3/15/25 @ 102(b)		569,609

				738,614

Thrifts & Mortgage Finance (0.3%):
	330,000	Nationwide Building Society, 3.77% (US0003M+106 bps), 3/8/24, Callable 3/8/23 @ 100(b)		329,424
	140,000	Nationwide Building Society, 4.36% (US0003M+139 bps), 8/1/24, Callable 8/1/23 @ 100(b)		140,347
	245,000	Nationwide Building Society, 2.97% (SOFR+129 bps), 2/16/28, Callable 2/16/27 @ 100^(b)		223,773

				693,544


Principal Amount			Value
Yankee Debt Obligations, continued
Tobacco (0.1%):
$	280,000	Imperial Brands Finance plc, 3.13%, 7/26/24, Callable 6/26/24 @ 100(b)	$	271,082

Trading Companies & Distributors (0.2%):
	140,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 2.45%, 10/29/26, Callable 9/29/26 @ 100		121,979
	580,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.30%, 1/30/32, Callable 10/30/31 @ 100		465,346

				587,325

Wireless Telecommunication Services (0.3%):
	345,000	Vodafone Group plc, 5.25%, 5/30/48		328,843
	468,000	Vodafone Group plc, 4.88%, 6/19/49		430,326

				759,169

	Total Yankee Debt Obligations (Cost $20,088,896)			17,915,425

Municipal Bonds (0.7%):
California (0.5%):
	700,000	Los Angeles Unified School District, Build America Bonds, GO, 5.76%, 7/1/29		760,697
	570,000	Regents of the University of California Medical Center Pooled Revenue, Series N, 3.26%, 5/15/60, Continuously Callable @100		404,791

				1,165,488

Michigan (0.0%^†):
	70,000	University of Michigan Revenue, Series A, 3.50%, 4/1/52, Continuously Callable @100		64,702

New York (0.2%):
	420,000	City of New York NY, GO, Series A, 3.00%, 8/1/34, Continuously Callable @100		364,190

	Total Municipal Bonds (Cost $1,893,230)			1,594,380

U.S. Government Agency Mortgages (34.4%):
Federal National Mortgage Association (23.3%)
	395,054	3.50%, 1/1/32, Pool #AB4262		387,713
	50,520	3.00%, 7/1/32, Pool #MA3060		49,801
	290,005	3.00%, 10/1/33, Pool #MA1676		276,674
	485,000	2.46%, 4/1/40, Pool #BL6060		378,881
	966,774	2.00%, 9/1/40, Pool #MA4152		858,069
	1,198,211	2.00%, 11/1/40, Pool #MA4176		1,078,825
	222,632	2.00%, 5/1/41, Pool #MA4333		197,776
	24,881	4.00%, 8/1/42, Pool #MA1146		24,939
	520,512	3.50%, 4/1/43, Pool #MA1404		514,046
	237,547	4.50%, 2/1/46, Pool #AL9106		245,291
	55,145	Class QA , Series 2018-573.50%, 5/25/46		54,513
	214,293	Class PA , Series 2018-553.50%, 1/25/47		212,155
	124,683	4.00%, 6/1/47, Pool #AS9830		124,575
	113,374	4.00%, 7/1/47, Pool #AS9972		113,276
	8,728	4.00%, 8/1/47, Pool #MA3088		8,735
	717,428	3.50%, 1/1/48, Pool #CA0996		693,915
	33,681	3.50%, 1/1/48, Pool #MA3238		32,890
	405,174	4.50%, 5/1/48, Pool #CA1710		407,246
	35,704	4.50%, 5/1/48, Pool #CA1711		35,887
	297,451	Class CT , Series 2018-433.00%, 6/25/48		283,006
	246,140	4.50%, 8/1/48, Pool #CA2208		247,619
	807,361	3.50%, 6/1/49, Pool #CA3633		780,005
	640,502	3.00%, 9/1/49, Pool #BN7755		606,164
	183,307	3.00%, 10/1/49, Pool #MA3811		174,775


Principal Amount			Value
U.S. Government Agency Mortgages, continued
Federal National Mortgage Association, continued
$	825,000	3.00%, 8/25/51, TBA	$	768,539
	1,381,955	2.00%, 12/1/51, Pool #MA4492		1,200,542
	1,416,491	2.00%, 12/1/51, Pool #BU7089		1,230,748
	1,806,357	2.00%, 12/1/51, Pool #BQ6913		1,569,095
	1,375,841	2.00%, 1/1/52, Pool #CB2767		1,195,027
	1,323,358	2.50%, 3/1/52, Pool #MA4563		1,193,427
	2,825,000	4.50%, 7/25/52, TBA		2,836,918
	1,875,000	3.50%, 7/25/52, TBA		1,803,516
	4,725,000	2.50%, 7/25/52, TBA		4,253,976
	8,150,000	3.00%, 7/25/52, TBA		7,601,148
	4,875,000	2.00%, 7/25/52, TBA		4,231,348
	2,925,000	4.00%, 7/25/52, TBA		2,885,695
	7,675,000	2.00%, 8/25/52, TBA		6,653,266
	10,250,000	2.50%, 8/25/52, TBA		9,216,992
	1,025,000	3.50%, 8/25/52, TBA		984,801

				55,411,814

Federal Home Loan Mortgage Corporation (6.4%)
	187,766	3.00%, 3/1/31, Pool #G18592		184,798
	440,924	3.50%, 1/1/34, Pool #G16756		440,062
	955,763	3.50%, 4/1/44, Pool #G07848		929,892
	1,208,421	3.50%, 4/1/45, Pool #G60023		1,177,718
	915,930	4.00%, 12/1/45, Pool #G60344		914,448
	543,058	3.50%, 6/1/46, Pool #G08711		532,003
	348,018	3.00%, 8/1/46, Pool #G08715		330,116
	377,769	3.50%, 8/1/46, Pool #G08716		370,077
	92,957	3.00%, 9/1/46, Pool #G08721		88,178
	151,385	3.50%, 9/1/46, Pool #G08722		148,300
	460,869	3.00%, 10/1/46, Pool #G08726		437,169
	515,775	3.00%, 11/1/46, Pool #G08732		489,249
	653,968	3.00%, 1/1/47, Pool #G08741		620,308
	631,585	3.50%, 4/1/47, Pool #G67703		609,430
	64,236	Class PA , Series 48464.00%, 6/15/47		64,065
	823,978	3.50%, 12/1/47, Pool #G67706		803,719
	251,146	3.50%, 12/1/47, Pool #G08792		245,485
	1,597,042	3.50%, 1/1/48, Pool #G67707		1,586,880
	288,581	3.50%, 2/1/48, Pool #G08800		281,646
	782,934	4.00%, 3/1/48, Pool #G67711		790,088
	384,858	3.50%, 3/1/48, Pool #G67710		377,458
	69,130	Class CA , Series 48183.00%, 4/15/48		64,029
	269,436	3.50%, 6/1/48, Pool #G08816		262,948
	2,909	4.00%, 6/1/48, Pool #G67713		2,908
	83,328	5.00%, 7/1/48, Pool #G08833		85,378
	200,160	4.50%, 10/1/48, Pool #G08843		203,597
	691,838	2.00%, 4/1/52, Pool #QE0312		600,910
	1,356,818	2.50%, 4/1/52, Pool #SD8205		1,223,565
	1,366,613	Class HZ , Series 46393.25%, 4/15/53		1,226,824

				15,091,248

Government National Mortgage Association (3.5%)
	252,388	3.50%, 3/20/46, Pool #MA3521		248,348
	261,227	3.50%, 4/20/46, Pool #MA3597		257,048
	49,534	3.50%, 5/20/46, Pool #MA3663		48,742
	106,634	3.50%, 9/20/46, Pool #MA3937		104,929
	580,584	3.00%, 12/20/46, Pool #MA4126		555,373
	427,595	3.50%, 1/20/47, Pool #MA4196		420,755
	78,793	5.00%, 3/20/47, Pool #MA4324		83,862


Principal Amount or Contracts			Value
U.S. Government Agency Mortgages, continued
Government National Mortgage Association, continued
$	83,513	3.50%, 6/20/47, Pool #MA4510	$	82,013
	188,737	5.00%, 6/20/47, Pool #MA4513		193,470
	123,248	5.00%, 9/20/47, Pool #MA4722		129,754
	226,139	4.00%, 9/20/47, Pool #MA4720		227,688
	156,778	4.00%, 11/20/47, Pool #MA4838		157,852
	270,628	3.00%, 11/20/47, Pool #MA4836		255,899
	97,477	3.50%, 11/20/47, Pool #MA4837		95,532
	73,805	4.00%, 12/20/47, Pool #MA4901		74,311
	805,631	3.50%, 12/20/47, Pool #MA4900		791,160
	237,110	4.00%, 3/20/48, Pool #MA5078		238,734
	472,531	4.50%, 8/20/48, Pool #MA5399		485,316
	240,191	Class NW , Series 2018-1243.50%, 9/20/48		229,849
	132,388	4.00%, 9/20/48, Pool #MA5466		133,005
	171,034	3.00%, 10/20/49, Pool #MA6209		157,936
	3,775,000	2.50%, 7/20/52, TBA		3,457,664

				8,429,240

Federal Home Loan Bank (1.2%)
	2,925,000	1.04%, 6/14/24, Callable 7/14/22 @ 100.00		2,815,655

	Total U.S. Government Agency Mortgages (Cost $83,458,959)			81,747,957

U.S. Treasury Obligations (35.0%):
U.S. Treasury Bill (2.0%)
	2,270,000	1.58%, 9/15/22(d)		2,262,333
	740,000	2.00%, 10/20/22(d)		735,425
	915,000	2.08%, 11/17/22(d)		907,669
	785,000	2.43%, 12/22/22(d)		775,818

				4,681,245

U.S. Treasury Bonds (7.8%)
	13,267,000	2.00%, 11/15/41		10,597,017
	5,610,000	2.38%, 2/15/42		4,784,278
	3,350,000	2.88%, 5/15/52		3,189,828

				18,571,123

U.S. Treasury Inflation Index Bonds (0.2%)
	572,000	0.13%, 2/15/52		470,975

U.S. Treasury Notes (25.0%)
	1,890,000	2.50%, 4/30/24		1,874,939
	2,785,000	2.50%, 5/31/24		2,761,937
	2,765,000	3.00%, 6/30/24		2,768,888
	26,840,000	2.88%, 6/15/25		26,760,319
	7,455,000	2.75%, 4/30/27		7,366,472
	5,825,000	2.63%, 5/31/27		5,723,062
	11,475,000	3.25%, 6/30/27		11,605,887
	564,000	2.88%, 5/15/32		559,241

				59,420,745

	Total U.S. Treasury Obligations (Cost $84,883,526)			83,144,088

Purchased Options (0.0%^†)^:
	Total Purchased Options (Cost $60,516)			3,700

Short-Term Security Held as Collateral for Securities on Loan (0.1%):
	230,431	BlackRock Liquidity FedFund, Institutional Class , 0.19%(d)(f)		230,431

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $230,431)			230,431

At June 30, 2022, the Fund’s over-the-counter options purchased were as follows:

At June 30, 2022, the Fund’s over-the-counter options written were as follows:

At June 30, 2022, the Fund’s centrally-cleared swap agreements were as follows:

Balances Reported in the Statement of Assets and Liabilities for Options Written, Forward Currency Contracts and Swap Agreements

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	296,691,376

Investment securities, at value(a)	$	282,385,139
Cash		12,834
Deposit at broker for futures contracts collateral		1,466,729
Interest and dividends receivable		1,103,363
Unrealized appreciation on forward currency contracts		2,778
Unrealized appreciation on swap agreements		529,629
Receivable for capital shares issued		98,430
Receivable for investments sold		218,323
Receivable for TBA investments sold		18,632,717
Receivable for variation margin on swap agreements		420,469
Receivable for variation margin on futures contracts		31,292
Prepaid expenses		740

Total Assets		304,902,443

Liabilities:
Unrealized depreciation on forward currency contracts		469
Unrealized depreciation on swap agreements		952,583
Payable for investments purchased		1,390,233
Payable for TBA investments purchased		63,667,061
Payable for capital shares redeemed		584,828
Written Options (Premiums received $57,757)		2,188
Payable for collateral received on loaned securities		230,431
Manager fees payable		98,473
Administration fees payable		33,116
Distribution fees payable		49,236
Custodian fees payable		953
Administrative and compliance services fees payable		145
Transfer agent fees payable		528
Trustee fees payable		1,244
Other accrued liabilities		2,514

Total Liabilities		67,014,002

Net Assets	$	237,888,441

Net Assets Consist of:
Paid in capital	$	263,775,945
Total distributable earnings		(25,887,504	)

Net Assets	$	237,888,441

Shares of beneficial interest (unlimited number of shares authorized, no par value)		26,642,303
Net Asset Value (offering and redemption price per share)	$	8.93

(a)	Includes securities on loan of $221,535.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Interest	$	3,219,765
Dividends		13,836
Income from securities lending		331

Total Investment Income		3,233,932

Expenses:
Management fees		775,985
Administration fees		38,718
Distribution fees		323,325
Custodian fees		7,074
Administrative and compliance services fees		1,507
Transfer agent fees		2,592
Trustee fees		5,946
Professional fees		4,801
Shareholder reports		1,870
Other expenses		2,532

Total expenses		1,164,350
Less Management fees contractually waived		(129,329	)

Net Expenses		1,035,021

Net Investment Income/(Loss)		2,198,911

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities and foreign currencies		(15,456,296	)
Net realized gains/(losses) on forward currency contracts		24,557
Net realized gains/(losses) on futures contracts		60,502
Net realized gains/(losses) on written options contracts		(634,285	)
Net realized gains/(losses) on swap agreements		20,825
Change in net unrealized appreciation/depreciation on securities and foreign currencies		(18,421,429	)
Change in net unrealized appreciation/depreciation on forward currency contracts		(22,316	)
Change in net unrealized appreciation/depreciation on futures contracts		(56,256	)
Change in net unrealized appreciation/depreciation on written options contracts		42,144
Change in net unrealized appreciation/depreciation on swap agreements		(209,969	)

Net realized and Change in net unrealized gains/losses on investments		(34,652,523	)

Change in Net Assets Resulting From Operations	$	(32,453,612	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services—Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL MetWest Total Return Bond Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $60 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $230,431 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

Pursuant to Rule 17a-7 under the 1940 Act, the Fund may engage in securities transactions with affiliated investment companies and advisory accounts managed by the Manager. Any such purchase or sale transaction must be effected without a brokerage commission or other remuneration, except for customary transfer fees. The transaction must be effected at the current market price, which is either the security’s last sale price on an exchange or, if there are no transactions in the security that day, at the average of the highest bid and lowest asked price. During the period ended June 30, 2022, the Fund did not engage in any Rule 17a-7 transactions.

event of default by the counterparty to the transaction, the Fund’s maximum amount of loss, as either the buyer or the seller, is the unrealized appreciation of the contract. The forward currency contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded for financial statement purposes as unrealized gains or losses until the contract settlement date. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. For the period ended June 30, 2022, the monthly average notional amount for short contracts was $0.6 million. There was no long contract activity during the period. Realized gains and losses are reported as “Net realized gains/(losses) on forward currency contracts” on the Statement of Operations.

During the period ended June 30, 2022, the Fund used futures contracts to provide market exposure on the Fund’s cash balances. Futures contracts are valued based upon their quoted daily settlement prices. Upon entering into a futures contract, the Fund is required to segregate liquid assets in accordance with the initial margin requirements of the broker or exchange. Futures contracts are marked to market daily and a payable or receivable for the change in value (“variation margin”), if any, is recorded by the Fund. Gains or losses are recognized but not considered realized until the contracts expire or are closed. Futures contracts involve, to varying degrees, elements of market risk (generally equity price risk related to stock futures, interest rate risk related to bond futures, and foreign currency risk related to currency futures) and exposure to loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities. The primary risks associated with the use of futures contracts are the imperfect correlation between the change in value of the underlying securities and the prices of futures contracts, the possibility of an illiquid market, and the inability of the counterparty to meet the terms of the contract. For the period ended June 30, 2022, the monthly average notional amount for long contracts was $5.2 million, and the monthly average notional amount for short contracts was $0.7 million. Realized gains and losses are reported as “Net realized gains/(losses) on futures contracts” on the Statement of Operations.

Written Options Contracts — The Fund receives a premium which is recorded as a liability and is subsequently adjusted to the current value of the options written when writing options. Premiums received from writing options that expire are treated as realized gains. Premiums received from writing options that are either exercised or closed are offset against the proceeds received or the amount paid on the transaction to determine realized gains or losses. The risk associated with writing an option is that the Fund bears the market risk of an unfavorable change in the price of an underlying asset and is required to buy or sell an underlying asset under the contractual terms of the option at a price different from the current value. For the period ended June 30, 2022, the monthly average notional amount for written options contracts was $38,000. Realized gains and losses are reported as “Net realized gains/(losses) on written options contracts” on the Statement of Operations.

The Fund may invest in swap agreements. A swap is an agreement to exchange the return generated by one instrument for the return generated by another instrument. Swap agreements are privately negotiated in the over-the-counter (“OTC”) market and may be entered into as a bilateral contract (“OTC swaps”) or centrally cleared (“centrally cleared swaps”). The Fund may enter into swap agreements to manage its exposure to market, interest rate, foreign currencies and credit risk. The value of swap agreements are equal to the Fund’s obligations (or rights) under swap agreements, which will generally be equal to the net amounts to be paid or received under the agreements based upon the relative values of the positions held by each party to the agreements. In connection with these arrangements, securities may be identified as collateral in accordance with the terms of the swap agreements to provide assets of value and recourse in the event of default or bankruptcy by the counterparty.

Swaps are marked to market daily using pricing sources approved by the Trustees and the change in value, if any, is recorded as unrealized gain or loss. For OTC swaps, payments received or made at the beginning of the measurement period are recorded as realized gain or loss upon termination or maturity of the OTC swap. A liquidation payment received or made at the termination of the OTC swap is recorded as a realized gain or loss. Net periodic payments received or paid by the Fund are included as part of realized gains (losses). Upon entering a centrally cleared swap, the Fund is required to deposit initial margin with the broker in the form of cash or assets determined to be liquid (the amount is subject to the clearing organization that clears the trade). Daily changes in valuation of centrally cleared swaps, if any, are reported as “Payable/Receivable for variation margin on centrally cleared swap agreements” on the Statement of Assets and Liabilities.

Swap agreements involve, to varying degrees, elements of market risk and exposure to loss. The primary risks associated with the use of swap agreements are imperfect correlation between movements in the notional amount and the price of the underlying instruments and the inability of counterparties or clearing house to perform. The counterparty risk for centrally cleared swap agreements is generally lower than for OTC swap agreements because generally a clearing organization becomes substituted for each counterparty to a centrally cleared swap agreement and, in effect, guarantees the parties’ performance under the contract as each party to a trade looks only to a clearing house for performance of financial obligations. However, there can be no assurance that the clearing house, or its members will satisfy its obligations to the Fund.

The notional amounts reflect the extent of the total investment exposure the Fund has under the swap agreement. The Fund bears the risk of loss of the amount expected to be received under a swap agreement (i.e., any unrealized appreciation) in the event of the default or bankruptcy of the swap agreement counterparty. The notional amount and related unrealized appreciation (depreciation) of each swap agreement at period end is disclosed in the swap tables in the Schedule of Portfolio Investments. The Fund is a party to International Swap Dealers Association, Inc. Master Agreements (“ISDA Master Agreements”) with select counterparties that govern transactions, such as OTC swap contracts, entered into by the Fund, and those counterparties. The ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral and events of default or termination. Events of termination include conditions that may entitle counterparties to elect to terminate early and cause settlement of all outstanding OTC swap transactions under the applicable ISDA Master Agreement.

Interest rate swaps involve the exchange of commitments to pay and receive interest based on a notional amount and are subject to interest rate risk exposure. Interest rate swaps do not involve the delivery of securities, other underlying assets or principal. Accordingly, the risk of loss with respect to interest rate swaps is limited to the net amount of interest payments that a Fund is contractually obligated to make. If the other party to an interest rate swap defaults, a Fund’s risk of loss consists of the net amount of interest payments that the Fund is contractually entitled to receive. As of June 30, 2022, the Fund entered into OTC and centrally cleared interest rate swap agreements to gain or reduce exposure to interest rates or to manage duration, the yield curve or interest rate risk by economically hedging the value of the fixed rate bonds which may decrease when interest rates rise (interest rate risk). The monthly average gross notional amount for interest rate swaps was $33.3 million for the period ended June 30, 2022.

The following is a summary of the values of derivative instruments on the Fund’s Statement of Assets and Liabilities, categorized by risk exposure, as of June 30, 2022:

The following is a summary of the effect of derivative instruments on the Statement of Operations, categorized by risk exposure, for the period ended June 30, 2022:

As of June 30, 2022, the Fund’s derivative assets and liabilities by type were as follows:

The following table presents the Fund’s derivative assets by counterparty net of amounts available for offset under MNA and net of the related collateral received by the Fund as of June 30, 2022:

The Manager provides investment advisory and management services for the Fund. The Manager has retained an independent money management organization (the “Subadviser”), to make investment decisions on behalf of the Fund. Pursuant to a portfolio management agreement with Metropolitan West Asset Management, LLC (“MetWest”), MetWest provides investment advisory services as the Subadviser for the Fund subject to the general supervision of the Trustees and the Manager. The Manager is entitled to a fee, computed daily and paid monthly, based on the average daily net assets of the Fund. Expenses incurred by the Fund for investment advisory and management services are reflected on the Statement of Operations as “Management fees.” For its services, the Subadviser is entitled to a fee payable by the Manager. The Manager has contractually agreed to waive fees and reimburse the Fund to limit the annual expenses, excluding interest expense (e.g., cash overdraft fees), taxes, brokerage commissions, acquired fund fees and expenses, other expenditures that are capitalized in accordance with U.S. GAAP and other extraordinary expenses not incurred in the ordinary course of the Fund’s business, based on the daily net assets of the Fund, through April 30, 2023.

For the period ended June 30, 2022, the annual rate due to the Manager and the annual expense limit were as follows:

Forward currency contracts are generally valued at the forward foreign currency exchange rate as of the close of the NYSE and are typically categorized as Level 2 in the fair value hierarchy.

The following is a summary of the valuation inputs used as of June 30, 2022 in valuing the Fund’s investments based upon the three levels defined above:

For the period ended June 30, 2022, cost of purchases and proceeds from sales of securities (excluding securities maturing less than one year from acquisition) were as follows:

For the period ended June 30, 2022, purchases and sales of long-term U.S. government securities were as follows:

The current outbreak of the novel strain of coronavirus, COVID-19, has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain the spread of COVID-19 have resulted in travel restrictions, closed international borders, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, defaults and other significant economic impacts, all of which have disrupted global economic activity across many industries and may exacerbate other pre-existing political, social and economic risks, locally or globally. The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Fund’s performance.

Cost of securities, including derivatives and short positions as applicable, for federal income tax purposes at December 31, 2021 was $336,750,783. The gross unrealized appreciation/(depreciation) on a tax basis was as follows:

The tax character of dividends paid to shareholders during the year ended December 31, 2021 was as follows:

At December 31, 2021, the components of accumulated earnings on a tax basis were as follows:

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumptions of control of the fund, under section 2 (a)(9) of the 1940 Act. As of June 30, 2022, the Fund had multiple shareholder accounts which are affiliated with the Manager representing ownership in excess of 75% of the Fund. Investment activities of these shareholders could have a material impact to the Fund.

Statement Regarding the Trust’s Liquidity Risk Management Program (Unaudited)

2) Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions; and

3) Holdings of cash and cash equivalents, as well as borrowing arrangements and other funding sources.

The Funds that engage in or reserve the right to redeem in kind have adopted policies and procedures regarding in-kind redemptions as required by the Liquidity Rule.

As a shareholder of the AZL Mid Cap Index Fund (the “Fund”), you incur ongoing costs, including management fees, distribution fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. Please note that the expenses shown in each table do not reflect expenses that apply to the subaccount or the insurance contract. If the expenses that apply to the subaccount or the insurance contract were included, your costs would have been higher.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the periods presented below.


Shares			Value
Common Stocks (99.5%):
Aerospace & Defense (1.0%):
	31,090	Axon Enterprise, Inc.*	$	2,896,655
	16,832	Curtiss-Wright Corp.		2,222,834
	36,753	Hexcel Corp.		1,922,549
	25,250	Mercury Systems, Inc.*		1,624,333

				8,666,371

Air Freight & Logistics (0.5%):
	44,850	GXO Logistics, Inc.*		1,940,660
	43,296	XPO Logistics, Inc.*		2,085,135

				4,025,795

Airlines (0.1%):
	140,982	JetBlue Airways Corp.*		1,180,019

Auto Components (1.5%):
	42,185	Adient plc*		1,249,942
	62,862	Dana, Inc.		884,468
	18,635	Fox Factory Holding Corp.*		1,500,863
	102,440	Gentex Corp.		2,865,247
	124,687	Goodyear Tire & Rubber Co. (The)*		1,335,398
	26,045	Lear Corp.		3,278,805
	12,459	Visteon Corp.*		1,290,503

				12,405,226

Automobiles (0.5%):
	64,525	Harley-Davidson, Inc.		2,042,861
	24,008	Thor Industries, Inc.		1,794,118

				3,836,979

Banks (6.9%):
	65,851	Associated Banc-Corp.		1,202,439
	17,433	Bank of Hawaii Corp.		1,297,015
	49,434	Bank OZK		1,855,258
	80,335	Cadence Bank		1,886,266
	32,930	Cathay General Bancorp		1,289,209
	48,213	Commerce Bancshares, Inc.		3,165,183
	24,950	Cullen/Frost Bankers, Inc.		2,905,428
	62,136	East West Bancorp, Inc.		4,026,413
	148,245	F.N.B. Corp.		1,609,941
	56,169	First Financial Bankshares, Inc.		2,205,757
	234,999	First Horizon Corp.		5,137,078
	70,677	Fulton Financial Corp.		1,021,283
	47,255	Glacier Bancorp, Inc.		2,240,832
	37,629	Hancock Whitney Corp.		1,668,094
	82,830	Home Bancshares, Inc.		1,720,379
	23,292	International Bancshares Corp.		933,543
	128,426	Old National Bancorp		1,899,421
	51,421	PacWest Bancorp		1,370,884
	33,336	Pinnacle Financial Partners, Inc.		2,410,526
	40,592	Prosperity Bancshares, Inc.		2,771,216
	63,913	Synovus Financial Corp.		2,304,064
	22,207	Texas Capital Bancshares, Inc.*		1,168,976
	18,755	UMB Financial Corp.		1,614,805
	95,883	Umpqua Holdings Corp.		1,607,958
	59,407	United Bankshares, Inc.		2,083,403
	184,019	Valley National Bancorp		1,915,638
	77,975	Webster Financial Corp.		3,286,646
	26,307	Wintrust Financial Corp.		2,108,506

				58,706,161


Shares			Value
Common Stocks, continued
Beverages (0.1%):
	4,136	Boston Beer Co., Inc. (The), Class A*	$	1,253,084

Biotechnology (2.3%):
	46,894	Arrowhead Pharmaceuticals, Inc.*		1,651,138
	140,427	Exelixis, Inc.*		2,923,690
	60,397	Halozyme Therapeutics, Inc.*		2,657,468
	41,845	Neurocrine Biosciences, Inc.*		4,079,051
	22,667	Repligen Corp.*		3,681,121
	19,838	United Therapeutics Corp.*		4,674,626

				19,667,094

Building Products (1.7%):
	75,639	Builders FirstSource, Inc.*		4,061,814
	14,464	Lennox International, Inc.		2,988,118
	42,503	Owens Corning		3,158,398
	18,891	Simpson Manufacturing Co., Inc.		1,900,623
	49,561	Trex Co., Inc.*		2,697,110

				14,806,063

Capital Markets (1.6%):
	16,933	Affiliated Managers Group, Inc.		1,974,388
	17,773	Evercore, Inc., Class A		1,663,731
	40,133	Federated Hermes, Inc., Class B		1,275,828
	38,405	Interactive Brokers Group, Inc., Class A		2,112,659
	73,665	Janus Henderson Group plc		1,731,864
	45,674	SEI Investments Co.		2,467,309
	46,662	Stifel Financial Corp.		2,614,005

				13,839,784

Chemicals (2.7%):
	22,205	Ashland Global Holdings, Inc.		2,288,225
	40,047	Avient Corp.		1,605,084
	24,742	Cabot Corp.		1,578,292
	68,067	Chemours Co. (The)		2,179,505
	17,089	Ingevity Corp.*		1,078,999
	14,336	Minerals Technologies, Inc.		879,370
	2,985	NewMarket Corp.		898,366
	60,764	Olin Corp.		2,812,158
	56,780	RPM International, Inc.		4,469,722
	17,715	Scotts Miracle-Gro Co. (The)		1,399,308
	18,191	Sensient Technologies Corp.		1,465,467
	77,569	Valvoline, Inc.		2,236,314

				22,890,810

Commercial Services & Supplies (1.5%):
	20,588	Brink’s Co. (The)		1,249,898
	21,931	Clean Harbors, Inc.*		1,922,691
	58,785	IAA, Inc.*		1,926,384
	33,472	MillerKnoll, Inc.		879,309
	16,067	MSA Safety, Inc.		1,945,232
	40,492	Stericycle, Inc.*		1,775,574
	23,503	Tetra Tech, Inc.		3,209,335

				12,908,423

Communications Equipment (0.9%):
	24,431	Calix, Inc.*		834,074
	66,604	Ciena Corp.*		3,043,803
	30,210	Lumentum Holdings, Inc.*		2,399,278
	32,569	ViaSat, Inc.*		997,589

				7,274,744


Shares			Value
Common Stocks, continued
Construction & Engineering (1.5%):
	61,889	AECOM	$	4,036,401
	12,972	Dycom Industries, Inc.*		1,206,915
	22,391	EMCOR Group, Inc.		2,305,377
	62,268	Fluor Corp.*		1,515,603
	25,019	MasTec, Inc.*		1,792,862
	9,353	Valmont Industries, Inc.		2,100,964

				12,958,122

Construction Materials (0.2%):
	17,237	Eagle Materials, Inc.		1,895,036

Consumer Finance (0.5%):
	17,236	FirstCash Holdings, Inc.		1,198,074
	64,749	Navient Corp.		905,839
	117,867	SLM Corp.		1,878,800

				3,982,713

Containers & Packaging (0.9%):
	28,566	AptarGroup, Inc.		2,948,297
	11,901	Greif, Inc., Class A		742,384
	36,467	Silgan Holdings, Inc.		1,507,911
	42,684	Sonoco Products Co.		2,434,695

				7,633,287

Diversified Consumer Services (1.1%):
	1,729	Graham Holdings Co., Class B		980,066
	14,150	Grand Canyon Education, Inc.*		1,332,789
	69,873	H&R Block, Inc.		2,467,914
	69,498	Service Corp. International		4,803,702

				9,584,471

Diversified Financial Services (0.6%):
	83,888	Jefferies Financial Group, Inc.		2,316,986
	44,734	Voya Financial, Inc.		2,663,015

				4,980,001

Diversified Telecommunication Services (0.2%):
	56,037	Iridium Communications, Inc.*		2,104,750

Electric Utilities (1.5%):
	24,951	ALLETE, Inc.		1,466,620
	47,863	Hawaiian Electric Industries, Inc.		1,957,597
	22,169	IDACORP, Inc.		2,348,140
	88,114	OGE Energy Corp.		3,397,676
	37,402	PNM Resources, Inc.		1,787,068
	39,016	Portland General Electric Co.		1,885,643

				12,842,744

Electrical Equipment (1.9%):
	15,126	Acuity Brands, Inc.		2,330,009
	18,098	EnerSys		1,067,058
	23,494	Hubbell, Inc.		4,195,559
	72,830	nVent Electric plc		2,281,764
	29,336	Regal Rexnord Corp.		3,330,223
	91,992	Sunrun, Inc.*		2,148,933
	9,299	Vicor Corp.*		508,934

				15,862,480

Electronic Equipment, Instruments & Components (3.3%):
	28,912	Arrow Electronics, Inc.*		3,240,746
	42,767	Avnet, Inc.		1,833,849


Shares			Value
Common Stocks, continued
Electronic Equipment, Instruments & Components, continued
	19,338	Belden, Inc.	$	1,030,135
	76,066	Cognex Corp.		3,234,326
	10,912	Coherent, Inc.*		2,904,993
	46,560	II-VI, Inc.*^		2,372,232
	15,216	IPG Photonics Corp.*		1,432,282
	61,827	Jabil, Inc.		3,166,161
	10,830	Littlelfuse, Inc.		2,751,253
	56,949	National Instruments Corp.		1,778,517
	18,129	TD SYNNEX Corp.		1,651,552
	57,425	Vishay Intertechnology, Inc.		1,023,314
	70,492	Vontier Corp.		1,620,611

				28,039,971

Energy Equipment & Services (0.6%):
	89,592	ChampionX Corp.		1,778,401
	171,731	NOV, Inc.		2,903,971

				4,682,372

Entertainment (0.1%):
	18,934	World Wrestling Entertainment, Inc., Class A		1,183,186

Equity Real Estate Investment Trusts (8.8%):
	61,306	American Campus Communities, Inc.		3,952,398
	68,351	Apartment Income REIT Corp.		2,843,402
	130,933	Brixmor Property Group, Inc.		2,646,156
	49,077	Corporate Office Properties Trust		1,285,327
	65,213	Cousins Properties, Inc.		1,906,176
	76,780	Douglas Emmett, Inc.		1,718,336
	18,248	EastGroup Properties, Inc.		2,816,214
	32,477	EPR Properties		1,524,146
	57,793	First Industrial Realty Trust, Inc.		2,744,012
	66,376	Healthcare Realty Trust, Inc.		1,805,427
	46,550	Highwoods Properties, Inc.		1,591,544
	63,320	Hudson Pacific Properties, Inc.		939,669
	97,255	Independence Realty Trust, Inc.		2,016,096
	47,601	JBG SMITH Properties		1,125,288
	45,995	Kilroy Realty Corp.		2,406,918
	95,829	Kite Realty Group Trust		1,656,883
	38,265	Lamar Advertising Co., Class A		3,366,172
	36,937	Life Storage, Inc.		4,124,385
	263,067	Medical Properties Trust, Inc.		4,017,033
	77,406	National Retail Properties, Inc.		3,328,458
	36,840	National Storage Affiliates Trust		1,844,579
	102,983	Omega Healthcare Investors, Inc.		2,903,091
	101,830	Park Hotels & Resorts, Inc.		1,381,833
	57,609	Pebblebrook Hotel Trust		954,581
	98,639	Physicians Realty Trust		1,721,250
	30,852	PotlatchDeltic Corp.		1,363,350
	8,865	PS Business Parks, Inc.		1,659,085
	63,824	Rayonier, Inc.		2,385,741
	72,249	Rexford Industrial Realty, Inc.		4,160,820
	101,279	Sabra Health Care REIT, Inc.		1,414,868
	27,735	SL Green Realty Corp.		1,279,970
	58,803	Spirit Realty Capital, Inc.		2,221,577
	110,554	STORE Capital Corp.		2,883,248
	93,232	The Macerich Co.		812,051

				74,800,084


Shares			Value
Common Stocks, continued
Food & Staples Retailing (1.5%):
	59,047	BJ’s Wholesale Club Holdings, Inc.*	$	3,679,809
	16,249	Casey’s General Stores, Inc.		3,005,740
	38,047	Grocery Outlet Holding Corp.*		1,621,943
	68,060	Performance Food Group Co.*		3,129,399
	47,940	Sprouts Farmers Market, Inc.*		1,213,841

				12,650,732

Food Products (1.9%):
	70,499	Darling Ingredients, Inc.*		4,215,840
	87,227	Flowers Foods, Inc.		2,295,815
	39,260	Hain Celestial Group, Inc. (The)*		932,032
	29,024	Ingredion, Inc.		2,558,756
	8,675	Lancaster Colony Corp.		1,117,166
	20,541	Pilgrim’s Pride Corp.*		641,495
	24,468	Post Holdings, Inc.*		2,014,940
	9,252	Sanderson Farms, Inc.		1,994,084

				15,770,128

Gas Utilities (1.7%):
	40,305	National Fuel Gas Co.		2,662,145
	42,473	New Jersey Resources Corp.		1,891,323
	23,749	ONE Gas, Inc.		1,928,181
	29,269	Southwest Gas Holdings, Inc.		2,548,745
	22,810	Spire, Inc.		1,696,380
	91,866	UGI Corp.		3,546,946

				14,273,720

Health Care Equipment & Supplies (3.3%):
	20,581	Enovis Corp.*		1,131,955
	71,017	Envista Holdings Corp.*		2,736,995
	34,745	Globus Medical, Inc.*		1,950,584
	22,631	Haemonetics Corp.*		1,475,089
	8,850	ICU Medical, Inc.*		1,454,851
	14,886	Inari Medical, Inc.*		1,012,099
	31,302	Integra LifeSciences Holdings Corp.*		1,691,247
	23,562	LivaNova plc*		1,471,918
	22,453	Masimo Corp.*		2,933,934
	47,285	Neogen Corp.*		1,139,096
	23,020	NuVasive, Inc.*		1,131,663
	15,473	Penumbra, Inc.*		1,926,698
	21,987	QuidelOrtho Corp.*		2,136,697
	15,670	Shockwave Medical, Inc.*		2,995,634
	21,167	STAAR Surgical Co.*		1,501,375
	28,151	Tandem Diabetes Care, Inc.*		1,666,258

				28,356,093

Health Care Providers & Services (2.5%):
	39,532	Acadia Healthcare Co., Inc.*		2,673,549
	14,445	Amedisys, Inc.*		1,518,458
	6,553	Chemed Corp.		3,075,913
	44,025	Encompass Health Corp.		2,467,601
	37,117	HealthEquity, Inc.*		2,278,613
	13,585	LHC Group, Inc.*		2,115,728
	60,098	Option Care Health, Inc.*		1,670,123
	38,174	Patterson Cos., Inc.		1,156,672
	31,431	Progyny, Inc.*		913,071
	58,436	R1 RCM, Inc.*		1,224,819
	47,123	Tenet Healthcare Corp.*		2,476,785

				21,571,332


Shares			Value
Common Stocks, continued
Hotels, Restaurants & Leisure (2.6%):
	35,024	Boyd Gaming Corp.	$	1,742,444
	14,462	Choice Hotels International, Inc.		1,614,393
	14,983	Churchill Downs, Inc.		2,869,694
	9,996	Cracker Barrel Old Country Store, Inc.		834,566
	41,604	Light & Wonder, Inc., Class A*		1,954,972
	18,140	Marriott Vacations Worldwide Corp.		2,107,868
	13,948	Papa John’s International, Inc.		1,164,937
	33,793	Six Flags Entertainment Corp.*		733,308
	29,845	Texas Roadhouse, Inc., Class A		2,184,654
	37,479	Travel + Leisure Co.		1,454,935
	75,041	Wendy’s Co. (The)		1,416,774
	13,049	Wingstop, Inc.		975,674
	40,323	Wyndham Hotels & Resorts, Inc.		2,650,027

				21,704,246

Household Durables (1.4%):
	10,438	Helen of Troy, Ltd.*		1,695,236
	37,763	KB Home		1,074,735
	58,401	Leggett & Platt, Inc.		2,019,506
	52,380	Taylor Morrison Home Corp., Class A*		1,223,597
	76,857	Tempur Sealy International, Inc.		1,642,434
	48,274	Toll Brothers, Inc.		2,153,020
	14,273	TopBuild Corp.*		2,385,875

				12,194,403

Household Products (0.1%):
	28,781	Energizer Holdings, Inc.		815,941

Industrial Conglomerates (0.6%):
	22,634	Carlisle Cos., Inc.		5,400,699

Insurance (4.5%):
	5,891	Alleghany Corp.*		4,907,792
	29,183	American Financial Group, Inc.		4,050,892
	32,790	Brighthouse Financial, Inc.*		1,345,046
	50,738	CNO Financial Group, Inc.		917,850
	47,025	First American Financial Corp.		2,488,563
	15,579	Hanover Insurance Group, Inc. (The)		2,278,429
	26,143	Kemper Corp.		1,252,250
	9,389	Kinsale Capital Group, Inc.		2,156,090
	11,388	Mercury General Corp.		504,488
	125,810	Old Republic International Corp.		2,813,112
	16,848	Primerica, Inc.		2,016,537
	29,319	Reinsurance Group of America, Inc.		3,438,826
	19,344	RenaissanceRe Holdings, Ltd.		3,024,821
	17,416	RLI Corp.		2,030,531
	26,456	Selective Insurance Group, Inc.		2,300,085
	88,043	Unum Group		2,995,223

				38,520,535

Interactive Media & Services (0.3%):
	44,597	TripAdvisor, Inc.*		793,826
	20,707	Ziff Davis, Inc.*		1,543,293

				2,337,119

IT Services (2.3%):
	21,718	Alliance Data Systems Corp.		804,869
	18,903	Concentrix Corp.		2,564,003
	22,132	Euronet Worldwide, Inc.*		2,226,258
	74,423	Genpact, Ltd.		3,152,558
	79,052	Kyndryl Holdings, Inc.*		773,129


Shares			Value
Common Stocks, continued
IT Services, continued
	26,598	MAXIMUS, Inc.	$	1,662,641
	145,710	Sabre Corp.*^		849,489
	45,840	Teradata Corp.*		1,696,538
	169,013	Western Union Co. (The.)		2,783,644
	19,701	WEX, Inc.*		3,064,688

				19,577,817

Leisure Products (1.3%):
	33,156	Brunswick Corp. DE		2,167,739
	50,774	Callaway Golf Co.*		1,035,790
	154,329	Mattel, Inc.*		3,446,167
	24,486	Polaris, Inc.		2,430,970
	37,723	YETI Holdings, Inc.*		1,632,274

				10,712,940

Life Sciences Tools & Services (1.0%):
	43,782	Bruker Corp.		2,747,758
	11,785	Medpace Holdings, Inc.*		1,763,861
	43,338	Sotera Health Co.*		848,992
	44,909	Syneos Health, Inc.*		3,219,077

				8,579,688

Machinery (4.5%):
	26,741	AGCO Corp.		2,639,337
	15,654	Chart Industries, Inc.*		2,620,166
	20,860	Crane Holdings Co.		1,826,502
	54,451	Donaldson Co., Inc.		2,621,271
	19,969	Esab Corp.		873,644
	57,781	Flowserve Corp.		1,654,270
	73,981	Graco, Inc.		4,395,211
	36,558	ITT, Inc.		2,458,160
	36,050	Kennametal, Inc.		837,441
	25,436	Lincoln Electric Holdings, Inc.		3,137,785
	23,813	Middleby Corp. (The)*		2,985,198
	28,806	Oshkosh Corp.		2,366,125
	30,221	Terex Corp.		827,149
	29,535	Timken Co.		1,566,832
	45,862	Toro Co. (The)		3,475,881
	11,914	Watts Water Technologies, Inc., Class A		1,463,516
	26,552	Woodward, Inc.		2,455,794

				38,204,282

Marine (0.2%):
	26,648	Kirby Corp.*		1,621,264

Media (0.9%):
	2,149	Cable One, Inc.		2,770,749
	19,083	John Wiley & Sons, Inc., Class A		911,404
	73,164	New York Times Co. (The), Class A		2,041,276
	97,317	TEGNA, Inc.		2,040,737

				7,764,166

Metals & Mining (2.8%):
	80,611	Alcoa Corp.		3,674,249
	209,353	Cleveland-Cliffs, Inc.*		3,217,756
	53,217	Commercial Metals Co.		1,761,483
	27,122	Reliance Steel & Aluminum Co.		4,606,943
	28,909	Royal Gold, Inc.		3,086,903
	78,482	Steel Dynamics, Inc.		5,191,584
	114,252	United States Steel Corp.		2,046,253
	14,156	Worthington Industries, Inc.		624,280

				24,209,451


Shares			Value
Common Stocks, continued
Multiline Retail (0.8%):
	56,300	Kohl’s Corp.	$	2,009,347
	124,718	Macy’s, Inc.		2,284,834
	49,173	Nordstrom, Inc.		1,039,025
	25,550	Ollie’s Bargain Outlet Holdings, Inc.*^		1,501,063

				6,834,269

Multi-Utilities (0.7%):
	28,385	Black Hills Corp.		2,065,576
	89,221	MDU Resources Group, Inc.		2,408,075
	24,050	NorthWestern Corp.		1,417,267

				5,890,918

Oil, Gas & Consumable Fuels (3.4%):
	142,563	Antero Midstream Corp.		1,290,195
	85,398	CNX Resources Corp.*		1,405,651
	42,355	DT Midstream, Inc.		2,076,242
	129,432	EQT Corp.		4,452,461
	178,172	Equitrans Midstream Corp.		1,133,174
	65,759	HF Sinclair Corp.		2,969,677
	48,712	Matador Resources Co.		2,269,492
	64,191	Murphy Oil Corp.		1,937,926
	41,781	PDC Energy, Inc.		2,574,127
	113,481	Range Resources Corp.*		2,808,655
	99,818	Targa Resources Corp.		5,956,140

				28,873,740

Paper & Forest Products (0.2%):
	35,953	Louisiana-Pacific Corp.		1,884,297

Personal Products (0.4%):
	47,358	BellRing Brands, Inc.*		1,178,741
	148,753	Coty, Inc., Class A*		1,191,511
	22,108	Nu Skin Enterprises, Inc., Class A		957,276

				3,327,528

Pharmaceuticals (0.8%):
	27,284	Jazz Pharmaceuticals plc*		4,256,577
	58,970	Perrigo Co. plc		2,392,413

				6,648,990

Professional Services (1.9%):
	22,373	ASGN, Inc.*		2,019,163
	10,254	CACI International, Inc., Class A*		2,889,372
	15,061	FTI Consulting, Inc.*		2,723,782
	15,834	Insperity, Inc.		1,580,708
	60,886	KBR, Inc.		2,946,274
	23,091	ManpowerGroup, Inc.		1,764,383
	24,439	Science Applications International Corp.		2,275,271

				16,198,953

Real Estate Management & Development (0.4%):
	21,393	Jones Lang LaSalle, Inc.*		3,740,780

Road & Rail (1.5%):
	15,010	Avis Budget Group, Inc.*		2,207,671
	71,613	Knight-Swift Transportation Holdings, Inc.		3,314,966
	16,255	Landstar System, Inc.		2,363,802
	22,389	Ryder System, Inc.		1,590,962
	11,468	Saia, Inc.*		2,155,984
	26,023	Werner Enterprises, Inc.		1,002,926

				12,636,311


Shares			Value
Common Stocks, continued
Semiconductors & Semiconductor Equipment (3.6%):
	43,591	Amkor Technology, Inc.	$	738,867
	32,870	Azenta, Inc.		2,369,927
	25,035	Cirrus Logic, Inc.*		1,816,039
	12,513	CMC Materials, Inc.		2,183,393
	43,510	First Solar, Inc.*		2,964,336
	60,496	Lattice Semiconductor Corp.*		2,934,056
	24,390	MKS Instruments, Inc.		2,503,146
	25,393	Power Integrations, Inc.		1,904,729
	27,787	Semtech Corp.*		1,527,451
	16,016	Silicon Laboratories, Inc.*		2,245,764
	6,817	SiTime Corp.*		1,111,376
	36,737	SunPower Corp.*^		580,812
	17,373	Synaptics, Inc.*		2,050,883
	19,111	Universal Display Corp.		1,932,887
	54,090	Wolfspeed, Inc.*		3,432,010

				30,295,676

Software (2.9%):
	50,256	ACI Worldwide, Inc.*		1,301,128
	12,201	Aspen Technology, Inc.*		2,241,080
	20,237	Blackbaud, Inc.*		1,175,162
	51,718	CDK Global, Inc.		2,832,595
	19,330	CommVault Systems, Inc.*		1,215,857
	18,183	Envestnet, Inc.*		959,517
	11,354	Fair Isaac Corp.*		4,551,819
	27,551	Manhattan Associates, Inc.*		3,157,344
	17,374	Paylocity Holding Corp.*		3,030,373
	14,611	Qualys, Inc.*		1,843,031
	41,276	Sailpoint Technologies Holdings, Inc.*		2,587,180

				24,895,086

Specialty Retail (2.8%):
	67,917	American Eagle Outfitters, Inc.		759,312
	15,577	AutoNation, Inc.*		1,740,885
	25,416	Dick’s Sporting Goods, Inc.		1,915,604
	24,256	Five Below, Inc.*		2,751,358
	36,601	Foot Locker, Inc.		924,175
	27,079	GameStop Corp., Class A*^		3,311,762
	91,607	Gap, Inc. (The)		754,842
	12,668	Lithia Motors, Inc.		3,481,293
	9,748	Murphy U.S.A., Inc.		2,270,017
	7,759	RH*		1,646,925
	29,736	Victoria’s Secret & Co.*		831,716
	30,661	Williams-Sonoma, Inc.		3,401,838

				23,789,727

Technology Hardware, Storage & Peripherals (0.3%):
	59,806	NCR Corp.*		1,860,565
	52,207	Xerox Holdings Corp.		775,274

				2,635,839


Shares			Value
Common Stocks, continued
Textiles, Apparel & Luxury Goods (1.7%):
	64,891	Capri Holdings, Ltd.*	$	2,661,180
	17,641	Carter’s, Inc.		1,243,338
	14,588	Columbia Sportswear Co.		1,044,209
	26,959	Crocs, Inc.*		1,312,094
	11,966	Deckers Outdoor Corp.*		3,055,518
	153,445	Hanesbrands, Inc.		1,578,949
	59,069	Skechers U.S.A., Inc., Class A*		2,101,675
	82,603	Under Armour, Inc., Class A*		688,083
	88,755	Under Armour, Inc., Class C*		672,763

				14,357,809

Thrifts & Mortgage Finance (0.7%):
	47,110	Essent Group, Ltd.		1,832,579
	135,550	MGIC Investment Corp.		1,707,930
	205,596	New York Community Bancorp, Inc.		1,877,091
	28,048	Washington Federal, Inc.		842,001

				6,259,601

Trading Companies & Distributors (1.0%):
	15,725	GATX Corp.		1,480,666
	20,452	MSC Industrial Direct Co., Inc.		1,536,150
	74,093	Univar Solutions, Inc.*		1,842,693
	14,553	Watsco, Inc.		3,475,547

				8,335,056

Water Utilities (0.5%):
	100,707	Essential Utilities, Inc.		4,617,416

	Total Common Stocks (Cost $715,358,636)			847,496,322


Principal Amount			Value
Short-Term Security Held as Collateral for Securities on Loan (0.9%):
	7,658,387	BlackRock Liquidity FedFund, Institutional Class, 0.19%(a)(b)		7,658,387

	Total Short-Term Security Held as Collateral for Securities on Loan (Cost $7,658,387)			7,658,387


Shares			Value
Unaffiliated Investment Company (0.4%):
Money Markets (0.4%):
	3,433,609	Dreyfus Treasury Securities Cash Management Fund, Institutional Shares, 0.97%(b)		3,433,609

	Total Unaffiliated Investment Company (Cost $3,433,609)			3,433,609

	Total Investment Securities (Cost $726,450,632) — 100.8%			858,588,318
	Net other assets (liabilities) — (0.8)%			(7,082,772	)

	Net Assets — 100.0%		$	851,505,546

Statement of Assets and Liabilities

June 30, 2022

(Unaudited)


Assets:
Investment securities, at cost	$	726,450,632

Investment securities, at value(a)	$	858,588,318
Deposit at broker for futures contracts collateral		260,000
Interest and dividends receivable		967,669
Reclaims receivable		1,946
Prepaid expenses		3,329

Total Assets		859,821,262

Liabilities:
Payable for capital shares redeemed		51,803
Payable for collateral received on loaned securities		7,658,387
Payable for variation margin on futures contracts		43,681
Manager fees payable		183,586
Administration fees payable		130,668
Distribution fees payable		174,202
Custodian fees payable		4,320
Administrative and compliance services fees payable		1,154
Transfer agent fees payable		2,281
Trustee fees payable		9,947
Other accrued liabilities		55,687

Total Liabilities		8,315,716

Net Assets	$	851,505,546

Net Assets Consist of:
Paid in capital	$	495,688,696
Total distributable earnings		355,816,850

Net Assets	$	851,505,546

Class 1
Net Assets	$	43,505,475
Shares of beneficial interest (unlimited number of shares authorized, no par value)		6,122,177
Net Asset Value (offering and redemption price per share)	$	7.11

Class 2
Net Assets	$	808,000,071
Shares of beneficial interest (unlimited number of shares authorized, no par value)		35,652,813
Net Asset Value (offering and redemption price per share)	$	22.66

(a)	Includes securities on loan of $7,401,616.

Statement of Operations

For the Six Months Ended June 30, 2022

(Unaudited)


Investment Income:
Dividends	$	7,851,082
Interest		15
Income from securities lending		97,464

Total Investment Income		7,948,561

Expenses:
Management fees		1,255,082
Administration fees		90,293
Distribution fees — Class 2		1,191,817
Custodian fees		16,323
Administrative and compliance services fees		6,270
Transfer agent fees		5,757
Trustee fees		24,772
Professional fees		19,957
Licensing fees		98,632
Shareholder reports		13,555
Other expenses		10,622

Total expenses		2,733,080

Net Investment Income/(Loss)		5,215,481

Net realized and Change in net unrealized gains/losses on investments:
Net realized gains/(losses) on securities		29,906,597
Net realized gains/(losses) on futures contracts		(388,257	)
Change in net unrealized appreciation/depreciation on securities		(253,439,602	)
Change in net unrealized appreciation/depreciation on futures contracts		(164,361	)

Net realized and Change in net unrealized gains/losses on investments		(224,085,623	)

Change in Net Assets Resulting From Operations	$	(218,870,142	)

The Allianz Variable Insurance Products Trust (the “Trust”) was organized as a Delaware statutory trust on July 13, 1999. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and thus is determined to be an investment company, and follows the investment company accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services — Investment Companies.” The Trust consists of 20 separate investment portfolios (individually a “Fund,” collectively, the “Funds”), of which one is included in this report, the AZL Mid Cap Index Fund (the “Fund”), and 19 are presented in separate reports. The Fund is a diversified series of the Trust.

The Fund may invest in private placement securities which are securities issued by corporations without registration under the Securities Act of 1933, as amended (the “1933 Act”), in reliance on a “private placement” exemption. These unregistered securities may be restricted and generally are sold to institutional investors, such as the Fund, who agree that they are purchasing the securities for investment and not with a view to public distribution. Unregistered securities are normally resold to other institutional investors through or with the assistance of the issuer or investment dealers who make a market in such securities.

Expenses directly attributable to the Fund are charged directly to the Fund, while expenses attributable to more than one Fund are allocated among the respective Funds based upon relative net assets or some other reasonable method. Each class of shares bears its pro-rata portion of expenses attributable to its series, except that each class separately bears expenses related specifically to that class, such as distribution fees. Expenses which are attributable to more than one Trust are allocated across the Allianz Variable Insurance Products Trust, Allianz Variable Insurance Products Fund of Funds Trust and AIM ETF Products Trust based upon relative net assets or another reasonable basis. Allianz Investment Management LLC (the “Manager”), serves as the investment manager for the Trust, Allianz Variable Insurance Products Fund of Funds Trust and AIM ETF Products Trust.

To generate additional income, the Fund may lend up to 33 ¹⁄₂% of its assets pursuant to agreements requiring that the loan be continuously secured by any combination of cash, U.S. government or U.S. government agency securities, equal initially to at least 102% of the fair value plus accrued interest on the securities loaned (105% for foreign securities). The borrower of securities is at all times required to post collateral to the Fund in an amount equal to 100% of the fair value of the securities loaned based on the previous day’s fair value of the securities loaned, marked-to-market daily. Any collateral shortfalls are adjusted the next business day. The Fund bears all of the gains and losses on such investments. The Fund receives payments from borrowers equivalent to the dividends and interest that would have been earned on securities lent while simultaneously seeking to earn income on the investment of cash collateral received. In extremely low interest rate environments, the broker rebate fee may exceed the interest earned on the cash collateral which would result in a loss to the Fund. The investment of cash collateral deposited by the borrower is subject to inherent market risks such as interest rate risk, credit risk, liquidity risk, and other risks that are present in the market, and as such, the value of these investments may not be sufficient, when liquidated, to repay the borrower when the loaned security is returned. There may be risks of delay in recovery of the securities or even loss of rights in the collateral should the borrower of the securities fail financially. However, loans will be made only to borrowers, such as broker-dealers, banks or institutional borrowers of securities, deemed by the Manager to be of good standing and credit worthy and when in its judgment, the consideration which can be earned currently from such securities loans justifies the attendant risks. Loans are subject to termination by the Trust or the borrower at any time, and are, therefore, not considered to be illiquid investments. Securities on loan at June 30, 2022 are presented on the Fund’s Schedule of Portfolio Investments.

Cash collateral received in connection with securities lending is invested on behalf of the Fund in the BlackRock Liquidity FedFund, Institutional Class, a money market fund which invests in short-term investments that have a remaining maturity of 397 days or less in accordance with Rule 2a-7 under the 1940 Act. The Fund pays the securities lending agent 9% of the gross revenues received from securities lending activities and keeps 91%. The Fund paid securities lending fees of $9,869 during the period ended June 30, 2022. These fees have been netted against “Income from securities lending” on the Statement of Operations. The Fund had securities lending transactions of $7,658,387 accounted for as secured borrowings with cash collateral of overnight and continuous maturities as of June 30, 2022. At June 30, 2022, there were no master netting provisions in the securities lending agreement.

During the period ended June 30, 2022, the Fund used futures contracts to provide market exposure on the Fund’s cash balances. Futures contracts are valued based upon their quoted daily settlement prices. Upon entering into a futures contract, the Fund is required to segregate liquid assets in accordance with the initial margin requirements of the broker or exchange. Futures contracts are marked to market daily and a payable or receivable for the change in value (“variation margin”), if any, is recorded by the Fund. Gains or losses are recognized but not considered realized until the contracts expire or are closed. Futures contracts involve, to varying degrees, elements of market risk (generally equity price risk related to stock futures, interest rate risk related to bond futures, and foreign currency risk related to currency futures) and exposure to loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities. The primary risks associated with the use of futures contracts are the imperfect correlation between the change in value of the underlying securities and the prices of futures contracts, the possibility of an illiquid market, and the inability of the counterparty to meet the terms of the contract. For the period ended June 30, 2022, the monthly average notional amount for long contracts was $ 6.0 million. There was no short contract activity during the period. Realized gains and losses are reported as “Net realized gains/(losses) on futures contracts” on the Statement of Operations.