BMO 2023-C5 Mortgage Trust

PMC Core Fixed Income Fund
Schedule of Investments
May 31, 2023 (Unaudited)

		Principal
		Amount		Value
ASSET BACKED SECURITIES - 9.28%
37 Capital CLO I
2021-1, 6.460% (3 Month LIBOR USD + 1.200%), 10/15/2034 (b)(c)	$	1,000,000	$	975,319
AM Capital Funding LLC
2018-1, 4.980%, 12/15/2023 (b)		760,000		759,057
Amur Equipment Finance Receivables XI LLC
2022-2A, 5.300%, 06/21/2028 (b)		240,110		238,372
Angel Oak Mortgage Trust
2021-3, 1.068%, 05/25/2066 (b)(d)		615,981		510,424
Aqua Finance Trust 2021-A
2021-A, 1.540%, 07/17/2046 (b)		461,499		412,113
Avis Budget Rental Car Funding AESOP LLC
2018-2 B, 4.270%, 03/20/2025 (b)		360,000		354,455
2019-3 A, 2.360%, 03/20/2026 (b)		376,000		355,525
2020-2 B, 2.960%, 02/20/2027 (b)		567,000		525,709
Beacon Container Finance II LLC
2021-1A, 2.250%, 10/22/2046 (b)		893,850		779,449
BlueMountain CLO Ltd.
2013-2R, 6.453% (3 Month LIBOR USD + 1.180%), 10/22/2030 (b)(c)		323,456		320,549
CCG Receivables Trust
2023-1, 5.820%, 09/16/2030 (b)		543,000		547,068
Cedar Funding VI CLO Ltd.
2016-6A, 6.300% (3 Month LIBOR USD + 1.050%), 04/20/2034 (b)(c)		1,480,000		1,436,999
Crown Castle Towers LLC
4.241%, 07/15/2048 (b)		439,000		411,904
Dryden 75 CLO Ltd.
2019-75R2, 6.300% (3 Month LIBOR USD + 1.040%), 04/15/2034 (b)(c)		850,000		828,940
Fort Washington CLO Ltd.
2021-2A, 6.470% (3 Month LIBOR USD + 1.220%), 10/20/2034 (b)(c)		2,000,000		1,940,854
GCAT Trust
2019-NQM3, 2.686%, 11/25/2059 (b)(d)		108,638		101,252
2021-NQM5, 1.262%, 07/25/2066 (b)(d)		497,910		400,444
JPMorgan Chase Bank NA - CACLN
2021-3, 0.760%, 02/26/2029 (b)		794,820		752,616
Madison Park Funding XXVI Ltd.
2007-26, 6.499% (3 Month LIBOR USD + 1.200%), 07/29/2030 (b)(c)		2,267,034		2,249,675
Magnetite XXIII Ltd.
2019-23R, 6.385% (3 Month LIBOR USD + 1.130%), 01/25/2035 (b)(c)		1,000,000		977,237
MetroNet Infrastructure Issuer LLC
2022-1A, 6.350%, 10/20/2052 (b)		693,000		683,798
MVW LLC
2021-2A A, 1.430%, 05/20/2039 (b)		679,044		606,879
2021-2A B, 1.830%, 05/20/2039 (b)		554,024		494,181
2022-1, 4.400%, 11/21/2039 (b)		257,892		243,692
2023-1, 5.420%, 10/20/2040 (b)		540,521		536,375
2021-1W, 1.440%, 01/22/2041 (b)		278,047		252,448
Navient Private Education Refi Loan Trust
2021-B, 0.940%, 07/15/2069 (b)		1,023,341		893,212
2021-C, 1.060%, 10/15/2069 (b)		761,134		663,979
2021-E, 0.970%, 12/16/2069 (b)		1,332,666		1,138,874
2021-F, 1.110%, 02/18/2070 (b)		481,644		410,043
Navient Student Loan Trust
2019-7, 5.638% (1 Month LIBOR USD + 0.500%), 01/25/2068 (b)(c)		2,454		2,452
RASC Trust
2005-KS12, 5.828% (1 Month LIBOR USD + 0.460%), 01/25/2036 (c)		56,236		55,726
SBA Tower Trust
2020-1-2, 2.328%, 01/15/2028 (b)		618,000		534,603
2021-3, 2.593%, 10/15/2031 (b)		1,243,000		1,002,565
Sierra Timeshare Receivables Funding LLC
2019-2, 2.590%, 05/20/2036 (b)		277,871		267,642
2020-2, 3.510%, 07/20/2037 (b)		319,948		302,503
2021-2, 1.350%, 09/20/2038 (b)		235,088		221,364
SoFi Consumer Loan Program Trust
2023-1S, 5.810%, 05/15/2031 (b)		364,336		364,799
SoFi Professional Loan Program Trust
2021-B, 1.140%, 02/15/2047 (b)		96,363		81,306
Starwood Mortgage Residential Trust
2021-3, 1.127%, 06/25/2056 (b)(d)		546,547		447,311
2021-6, 1.920%, 11/25/2066 (b)(d)		859,889		711,528
Taco Bell Funding LLC
2021-1, 1.946%, 08/25/2051 (b)		788,985		686,239
Thayer Park CLO Ltd.
2017-R, 6.290% (3 Month LIBOR USD + 1.040%), 04/20/2034 (b)(c)		500,000		488,812
Towd Point Mortgage Trust
2017-5, 4.455% (1 Month LIBOR USD + 0.600%), 02/25/2057 (b)(c)		140,940		140,602
2017-2 A1, 2.750%, 04/25/2057 (b)(d)		6,488		6,411
2017-2, 3.250%, 04/25/2057 (b)(d)		351,000		339,525
2017-3, 2.750%, 06/25/2057 (b)(d)		89,984		87,601
2017-4, 2.750%, 06/25/2057 (b)(d)		93,796		89,135
2022-4, 3.750%, 09/25/2062 (b)		1,483,730		1,413,112
TRESTLES CLO Ltd.
2017-1, 6.245% (3 Month LIBOR USD + 0.990%), 04/25/2032 (b)(c)		500,000		491,751
TRESTLES CLO V Ltd.
2021-5, 6.420% (3 Month LIBOR USD + 1.170%), 10/20/2034 (b)(c)		1,000,000		979,137
Vantage Data Centers Issuer LLC
2019-1, 3.188%, 07/15/2044 (b)		1,266,650		1,221,144
2021-1, 2.165%, 10/15/2046 (b)		817,000		725,765
Verus Securitization Trust
2021-3, 1.046%, 06/25/2066 (b)(d)		687,708		576,260
2021-6, 1.630%, 10/25/2066 (b)(d)		595,682		491,157
2022-7, 5.152%, 07/25/2067 (b)		900,480		889,606
TOTAL ASSET BACKED SECURITIES (Cost $35,760,933)				33,419,498

CORPORATE BONDS - 29.36%
Automobiles & Components - 0.71%
Ford Motor Co.
4.750%, 01/15/2043		90,000		66,437
Ford Motor Credit Co. LLC
5.113%, 05/03/2029		310,000		284,108
General Motors Co.
6.125%, 10/01/2025		1,248,000		1,266,966
General Motors Financial Co., Inc.
5.100%, 01/17/2024		320,000		319,070
3.600%, 06/21/2030		605,000		524,511
Goodyear Tire & Rubber Co.
5.250%, 04/30/2031		125,000		109,957
				2,571,049
Banks - 3.90%
Bank of America Corp.
3.875%, 08/01/2025		480,000		468,525
3.559% to 04/23/2026, then TSFR3M + 1.322%, 04/23/2027 (a)		1,610,000		1,528,960
2.884% to 10/22/2029, then TSFR3M + 1.452%, 10/22/2030 (a)		743,000		641,521
1.922% to 10/24/2030, then SOFR + 1.370%, 10/24/2031 (a)		2,430,000		1,920,912
Citigroup, Inc.
3.200%, 10/21/2026		1,121,000		1,053,835
3.887% to 01/10/2027, then TSFR3M + 1.825%, 01/10/2028 (a)		835,000		795,348
2.976% to 11/05/2029, then SOFR + 1.422%, 11/05/2030 (a)		495,000		429,360
6.174% to 05/25/2033, then SOFR + 2.661%, 05/25/2034 (a)		560,000		568,077
JPMorgan Chase & Co.
2.950%, 10/01/2026		1,667,000		1,572,916
Wells Fargo & Co.
2.406% to 10/30/2024, then TSFR3M + 1.087%, 10/30/2025 (a)		900,000		859,104
2.393% to 06/02/2027, then SOFR + 2.100%, 06/02/2028 (a)		1,020,000		912,949
4.150%, 01/24/2029		1,581,000		1,499,866
5.389% to 04/24/2033, then SOFR + 2.020%, 04/24/2034 (a)		1,445,000		1,444,946
5.013% to 04/04/2050, then TSFR3M + 4.502%, 04/04/2051 (a)		365,000		332,852
				14,029,171
Capital Goods - 1.48%
Boeing Co.
4.875%, 05/01/2025		1,181,000		1,169,863
3.900%, 05/01/2049		160,000		119,930
5.805%, 05/01/2050		1,273,000		1,244,789
Deere & Co.
5.375%, 10/16/2029		999,000		1,044,968
Honeywell International, Inc.
5.000%, 02/15/2033 (f)		905,000		931,946
Raytheon Technologies Corp.
7.500%, 09/15/2029		467,000		532,809
TransDigm, Inc.
6.250%, 03/15/2026 (b)		275,000		273,403
				5,317,708
Commercial & Professional Services - 0.29%
ASGN, Inc.
4.625%, 05/15/2028 (b)		350,000		315,894
Harsco Corp.
5.750%, 07/31/2027 (b)		165,000		142,837
Korn Ferry
4.625%, 12/15/2027 (b)		100,000		94,854
Waste Management, Inc.
4.150%, 04/15/2032 (f)		503,000		483,910
				1,037,495
Consumer Discretionary Distribution & Retail - 0.47%
Amazon.com, Inc.
3.800%, 12/05/2024		1,038,000		1,022,155
eBay, Inc.
2.600%, 05/10/2031 (f)		790,000		662,981
				1,685,136
Consumer Durables & Apparel - 0.02%
Shea Homes LP / Shea Homes Funding Corp.
4.750%, 02/15/2028		75,000		65,876
Consumer Services - 0.90%
Booking Holdings, Inc.
3.550%, 03/15/2028		1,100,000		1,050,784
McDonald's Corp.
3.500%, 07/01/2027		1,623,000		1,560,607
Prime Security Services Borrower LLC / Prime Finance, Inc.
5.750%, 04/15/2026 (b)		230,000		225,338
Wyndham Hotels & Resorts, Inc.
4.375%, 08/15/2028 (b)		165,000		151,604
Wynn Las Vegas LLC
5.500%, 03/01/2025 (b)		125,000		122,668
Yum! Brands, Inc.
5.375%, 04/01/2032		155,000		146,968
				3,257,969
Consumer Staples Distribution & Retail - 0.29%
Walmart, Inc.
4.150%, 09/09/2032		392,000		389,025
4.500%, 04/15/2053		673,000		644,279
				1,033,304
Energy - 3.10%
BP Capital Markets America, Inc.
4.812%, 02/13/2033 (f)		595,000		588,519
4.893%, 09/11/2033		685,000		680,538
Buckeye Partners LP
3.950%, 12/01/2026		75,000		66,969
CQP Holdco LP / BIP-V Chinook Holdco LLC
5.500%, 06/15/2031 (b)		155,000		138,325
Diamondback Energy, Inc.
3.125%, 03/24/2031 (f)		1,130,000		963,622
6.250%, 03/15/2033		580,000		602,909
DT Midstream, Inc.
4.125%, 06/15/2029 (b)		125,000		108,565
Energy Transfer LP
7.125% to 05/15/2030, then 5 Year CMT Rate + 5.306% (a)(h)		910,000		767,131
6.625% to 02/15/2028, then 3 Month LIBOR USD + 4.155% (a)(f)(h)		675,000		520,594
EQM Midstream Partners LP
5.500%, 07/15/2028		350,000		328,715
Kinder Morgan Energy Partners LP
4.150%, 02/01/2024		650,000		642,564
Kinder Morgan, Inc.
5.550%, 06/01/2045		1,505,000		1,365,390
Marathon Petroleum Corp.
4.700%, 05/01/2025		665,000		656,971
MPLX LP
4.700%, 04/15/2048		700,000		560,400
5.650%, 03/01/2053		430,000		392,096
New Fortress Energy, Inc.
6.500%, 09/30/2026 (b)		95,000		84,287
Occidental Petroleum Corp.
4.300%, 08/15/2039		260,000		204,966
Phillips 66
1.300%, 02/15/2026		1,110,000		1,008,668
Plains All American Pipeline LP / PAA Finance Corp.
4.650%, 10/15/2025		670,000		659,096
Pioneer Natural Resources Co.
2.150%, 01/15/2031		687,000		561,747
Hilcorp Energy I LP / Hilcorp Finance Co.
6.250%, 11/01/2028 (b)		160,000		149,684
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp.
6.000%, 09/01/2031 (b)		110,000		93,675
				11,145,431
Equity Real Estate Investment Trusts (REITs) - 0.82%
Iron Mountain, Inc.
5.250%, 03/15/2028 (b)		45,000		42,165
4.875%, 09/15/2029 (b)		240,000		214,395
5.250%, 07/15/2030 (b)		150,000		134,571
Public Storage
2.300%, 05/01/2031 (f)		3,068,000		2,574,151
				2,965,282
Financial Services - 1.99%
Goldman Sachs Group, Inc.
3.800%, 03/15/2030 (f)		1,459,000		1,353,504
Morgan Stanley
0.791% to 01/22/2024, then SOFR + 0.509%, 01/22/2025 (a)(f)		1,300,000		1,258,217
6.250%, 08/09/2026		449,000		462,829
3.591% (3 Month LIBOR USD + 1.340%), 07/22/2028 (a)		1,625,000		1,516,776
2.699% to 01/22/2030, then SOFR + 1.143%, 01/22/2031 (a)		1,190,000		1,017,664
5.250% to 04/21/2033, then SOFR + 1.870%, 04/21/2034 (a)		1,340,000		1,330,961
OneMain Finance Corp.
3.500%, 01/15/2027		255,000		212,299
				7,152,250
Food, Beverage & Tobacco - 1.90%
Anheuser-Busch InBev Worldwide, Inc.
4.350%, 06/01/2040		866,000		794,039
4.600%, 04/15/2048		453,000		415,615
4.750%, 04/15/2058		440,000		404,909
Aramark Services, Inc.
5.000%, 02/01/2028 (b)		235,000		222,339
Mars, Inc.
4.750%, 04/20/2033 (b)		1,235,000		1,226,461
Molson Coors Beverage Co.
4.200%, 07/15/2046		1,280,000		1,033,737
Performance Food Group, Inc.
5.500%, 10/15/2027 (b)		90,000		86,669
Philip Morris International, Inc.
3.125%, 08/17/2027		407,000		383,822
5.125%, 02/15/2030		1,250,000		1,238,328
5.750%, 11/17/2032		900,000		922,701
Post Holdings, Inc.
4.625%, 04/15/2030 (b)		150,000		131,488
				6,860,108
Health Care Equipment & Services - 0.54%
Abbott Laboratories
3.400%, 11/30/2023		1,128,000		1,115,553
Acadia Healthcare Co, Inc.
5.000%, 04/15/2029 (b)		195,000		179,050
CVS Health Corp.
4.125%, 04/01/2040		485,000		402,728
Tenet Healthcare Corp.
6.125%, 10/01/2028 (f)		265,000		251,415
				1,948,746
Household & Personal Products - 0.13%
Energizer Holdings, Inc.
4.375%, 03/31/2029 (b)		250,000		214,250
Procter & Gamble Co.
2.300%, 02/01/2032		297,000		260,579
				474,829
Insurance - 0.63%
MetLife, Inc.
6.500%, 12/15/2032 (f)		1,755,000		1,939,786
Travelers Cos, Inc.
5.450%, 05/25/2053		310,000		317,267
				2,257,053
Materials - 0.10%
Standard Industries, Inc.
4.750%, 01/15/2028 (b)		130,000		118,789
Univar Solutions USA, Inc.
5.125%, 12/01/2027 (b)		250,000		251,371
				370,160
Media & Entertainment - 3.17%
AMC Networks, Inc.
4.250%, 02/15/2029		100,000		57,139
CCO Holdings LLC / CCO Holdings Capital Corp.
4.250%, 02/01/2031 (b)		298,000		239,003
Charter Communications Operating LLC / Charter Communications Operating Capital
5.500%, 04/01/2063		665,000		513,717
Comcast Corp.
4.150%, 10/15/2028		1,727,000		1,686,003
5.350%, 05/15/2053		1,175,000		1,165,145
CSC Holdings LLC
4.625%, 12/01/2030 (b)		435,000		186,336
DISH DBS Corp.
5.875%, 11/15/2024		110,000		94,448
Fox Corp.
5.576%, 01/25/2049		660,000		596,487
Live Nation Entertainment, Inc.
4.750%, 10/15/2027 (b)		145,000		134,521
Meta Platforms, Inc.
4.950%, 05/15/2033		1,355,000		1,352,351
5.750%, 05/15/2063		1,140,000		1,132,580
Paramount Global
4.200%, 05/19/2032 (f)		1,760,000		1,475,400
4.950%, 05/19/2050 (f)		915,000		681,124
Sirius XM Radio, Inc.
4.125%, 07/01/2030 (b)(f)		315,000		248,041
Warnermedia Holdings, Inc.
5.050%, 03/15/2042		460,000		372,186
5.141%, 03/15/2052		1,605,000		1,251,531
Ziff Davis, Inc.
4.625%, 10/15/2030 (b)		255,000		217,683
				11,403,695
Pharmaceuticals, Biotechnology & Life Sciences - 0.51%
AbbVie, Inc.
4.050%, 11/21/2039		235,000		201,450
4.250%, 11/21/2049		420,000		355,114
Amgen, Inc.
5.750%, 03/02/2063		835,000		829,760
Biogen, Inc.
2.250%, 05/01/2030		276,000		231,541
Bristol-Myers Squibb Co.
3.550%, 03/15/2042		260,000		213,243
				1,831,108
Real Estate Management & Development - 0.10%
Park Intermediate Holdings LLC / PK Domestic Property LLC
5.875%, 10/01/2028 (b)		195,000		178,425
RHP Hotel Properties LP / RHP Finance Corp.
4.750%, 10/15/2027		205,000		190,180
				368,605
Semiconductors & Semiconductor Equipment - 1.01%
Intel Corp.
3.750%, 03/25/2027		1,157,000		1,123,964
Marvell Technology, Inc.
2.950%, 04/15/2031		891,000		747,283
Microchip Technology, Inc.
4.333%, 06/01/2023		595,000		595,000
QUALCOMM, Inc.
5.400%, 05/20/2033		226,000		236,343
Texas Instruments, Inc.
5.050%, 05/18/2063		965,000		942,712
				3,645,302
Software & Services - 1.86%
CommScope, Inc.
8.250%, 03/01/2027 (b)		377,000		296,240
Microsoft Corp.
3.125%, 11/03/2025		2,684,000		2,611,640
MPH Acquisition Holdings LLC
5.500%, 09/01/2028 (b)(f)		205,000		163,593
Oracle Corp.
2.875%, 03/25/2031		900,000		766,094
4.000%, 07/15/2046		530,000		397,117
5.550%, 02/06/2053 (f)		1,030,000		962,314
ServiceNow, Inc.
1.400%, 09/01/2030		1,894,000		1,507,536
				6,704,534
Technology Hardware & Equipment - 1.28%
Apple, Inc.
1.800%, 09/11/2024 (f)		2,818,000		2,720,858
CDW LLC / CDW Finance Corp.
2.670%, 12/01/2026		283,000		253,508
3.569%, 12/01/2031		530,000		442,799
Dell International LLC / EMC Corp.
6.200%, 07/15/2030 (f)		980,000		1,023,709
Presidio Holdings, Inc.
4.875%, 02/01/2027 (b)		185,000		173,163
				4,614,037
Telecommunication Services - 1.82%
AT&T, Inc.
2.550%, 12/01/2033		945,000		742,750
3.650%, 06/01/2051		725,000		524,885
3.500%, 09/15/2053		230,000		159,628
3.550%, 09/15/2055		159,000		109,142
Frontier Communications Holdings LLC
5.875%, 10/15/2027 (b)(f)		235,000		209,679
Sprint Capital Corp.
8.750%, 03/15/2032		1,275,000		1,548,370
T-Mobile USA, Inc.
2.875%, 02/15/2031		125,000		106,859
4.375%, 04/15/2040		475,000		416,936
3.000%, 02/15/2041		1,021,000		737,378
4.500%, 04/15/2050		560,000		476,539
3.300%, 02/15/2051		305,000		210,493
Verizon Communications, Inc.
4.329%, 09/21/2028		359,000		349,579
4.016%, 12/03/2029		345,000		325,326
2.355%, 03/15/2032		815,000		657,091
				6,574,655
Transportation - 0.47%
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd.
6.500%, 06/20/2027 (b)		170,000		169,876
Southwest Airlines Co.
5.250%, 05/04/2025		690,000		687,726
United Airlines Pass Through Trust
5.875%, 10/15/2027		840,859		832,011
				1,689,613
Utilities - 1.87%
Calpine Corp.
4.500%, 02/15/2028 (b)		310,000		282,710
Dominion Energy, Inc.
4.350%, 08/15/2032 (f)		978,000		920,584
5.375%, 11/15/2032 (f)		990,000		994,162
DTE Energy Co.
3.400%, 06/15/2029		527,000		479,125
Exelon Corp.
5.300%, 03/15/2033		1,410,000		1,420,544
4.700%, 04/15/2050		410,000		356,081
NextEra Energy Capital Holdings, Inc.
5.250%, 02/28/2053		625,000		590,362
Southern Co.
2.950%, 07/01/2023 (f)		273,000		272,206
5.200%, 06/15/2033		1,190,000		1,177,653
Vistra Operations Co. LLC
4.375%, 05/01/2029 (b)		265,000		231,171
				6,724,598
TOTAL CORPORATE BONDS (Cost $115,640,297)				105,727,714

FOREIGN CORPORATE BONDS - 1.74%
Banks - 0.42%
HSBC Holdings PLC
6.000% to 05/22/2027, then 5 Year Mid Swap Rate USD + 3.746% (a)(h)		910,000		809,302
International Bank for Reconstruction & Development
3.875%, 02/14/2030		695,000		695,873
				1,505,175
Consumer Services - 0.17%
Carnival Corp.
10.500%, 02/01/2026 (b)		95,000		98,812
7.625%, 03/01/2026 (b)(f)		340,000		322,678
Royal Caribbean Cruises Ltd.
5.500%, 04/01/2028 (b)		205,000		188,815
				610,305
Materials - 0.08%
Hudbay Minerals, Inc.
6.125%, 04/01/2029 (b)(f)		125,000		112,423
NOVA Chemicals Corp.
4.875%, 06/01/2024 (b)		120,000		117,340
5.250%, 06/01/2027 (b)		75,000		67,918
				297,681
Media & Entertainment - 0.08%
Virgin Media Vendor Financing Notes IV DAC
5.000%, 07/15/2028 (b)		350,000		304,529
Pharmaceuticals, Biotechnology & Life Sciences -0.13%
Pfizer Investment Enterprises Pte Ltd.
5.340%, 05/19/2063		475,000		474,184
Transportation - 0.86%
American Airlines Inc/AAdvantage Loyalty IP Ltd.
5.500%, 04/20/2026 (b)		235,000		230,622
Delta Air Lines, Inc. / SkyMiles IP Ltd.
4.500%, 10/20/2025 (b)		2,916,180		2,862,120
				3,092,742
TOTAL FOREIGN CORPORATE BONDS (Cost $6,712,592)				6,284,616

FOREIGN GOVERNMENT AGENCY ISSUES - 1.01%
Asian Development Bank
3.750%, 04/25/2028		1,140,000		1,131,997
Development Bank of Japan, Inc.
1.000%, 08/27/2030 (b)		260,000		208,160
International Finance Corp.
3.625%, 09/15/2025		660,000		651,048
Kreditanstalt fuer Wiederaufbau
3.875%, 06/15/2028		890,000		889,595
Province of Ontario Canada
2.125%, 01/21/2032		865,000		745,081
TOTAL FOREIGN GOVERNMENT AGENCY ISSUES (Cost $3,808,030)				3,625,881

FOREIGN GOVERNMENT NOTES/BONDS - 1.47%
Colombia Government International Bond
4.000%, 02/26/2024		590,000		580,243
3.000%, 01/30/2030 (f)		570,000		439,977
Dominican Republic International Bond
6.875%, 01/29/2026 (b)		330,000		334,114
6.850%, 01/27/2045 (b)		560,000		497,772
Hungary Government International Bond
7.625%, 03/29/2041		360,000		399,807
Indonesia Government International Bond
4.350%, 01/08/2027 (b)		550,000		546,409
Mexico Government International Bond
4.350%, 01/15/2047		740,000		583,969
Province of Quebec Canada
3.625%, 04/13/2028		1,010,000		989,479
Republic of South Africa Government International Bond
5.000%, 10/12/2046		150,000		95,962
Romanian Government International Bond
6.125%, 01/22/2044 (b)		505,000		472,227
Saudi Government International Bond
4.500%, 10/26/2046 (b)		400,000		350,150
TOTAL FOREIGN GOVERNMENT NOTES/BONDS (Cost $6,069,765)				5,290,109

NON-AGENCY MORTGAGE BACKED SECURITIES - 6.98%
American Tower Trust #1
2023-1, 5.490%, 03/15/2053 (b)		924,000		941,192
Angel Oak Mortgage Trust
2019-6, 2.620%, 11/25/2059 (b)(d)		71,494		68,913
Bank
2021-BNK31, 1.739%, 02/15/2054		454,000		390,985
2022-BNK39, 2.928%, 02/15/2055		179,000		151,671
2023-BNK45 B, 6.148%, 02/15/2056 (d)		483,000		451,842
2023-BNK45 C, 6.279%, 02/15/2056 (d)		522,000		455,929
BBCMS Mortgage Trust
2021-C11, 1.380%, 09/15/2054 (d)(e)		7,947,576		602,959
BB-UBS Trust
2012-SHOW, 3.430%, 11/05/2036 (b)		1,646,000		1,540,285
Benchmark Mortgage Trust
2020-B17, 3.371%, 03/15/2053 (d)		470,000		343,660
2021-B23, 1.766%, 02/15/2054		612,000		517,155
2021-B26, 0.885%, 06/15/2054 (d)(e)		9,532,492		457,114
2021-B31 D, 2.250%, 12/15/2054 (b)		278,000		133,876
2021-B31 C, 3.195%, 12/15/2054 (d)		415,000		277,526
BMO Mortgage Trust
2023-C5, 6.627%, 06/15/2056 (d)		180,000		171,870
BX Commercial Mortgage Trust
2021-VOLT, 6.757% (1 Month LIBOR USD + 1.650%), 09/15/2036 (b)(c)		1,085,000		1,031,403
2020-VIV2, 3.542%, 03/09/2044 (b)(d)		650,000		541,904
BX Trust
2019-OC11, 3.202%, 12/09/2041 (b)		971,000		847,862
BXP Trust
2017-GM, 3.379%, 06/13/2039 (b)		331,000		298,994
CAMB Commercial Mortgage Trust
2019-LIFE, 6.357% (1 Month LIBOR USD + 1.250%), 12/15/2037 (b)(c)		978,000		963,971
Citigroup Commercial Mortgage Trust
2023-SMRT, 6.048%, 06/10/2028 (b)(d)		298,000		290,339
2013-GC17, 5.095%, 11/10/2046 (d)		145,000		140,991
2014-GC25, 0.942%, 10/10/2047 (d)(e)		1,268,882		10,990
2015-GC27, 1.305%, 02/10/2048 (d)(e)		890,144		13,690
2022-GC48, 4.580%, 05/15/2054 (d)		619,207		592,654
COMM Mortgage Trust
2012-CCRE4, 3.251%, 10/15/2045		476,000		426,290
2014-UBS2, 3.472%, 03/10/2047		110,952		109,524
2014-CR16, 0.933%, 04/10/2047 (d)(e)		1,200,298		6,309
2014-LC15, 1.041%, 04/10/2047 (d)(e)		1,166,478		4,877
2014-CR17, 0.945%, 05/10/2047 (d)(e)		1,017,443		5,138
2014-UBS3, 1.049%, 06/10/2047 (d)(e)		848,203		4,770
2014-UBS6, 0.833%, 12/10/2047 (d)(e)		1,379,673		12,130
2014-CCRE21, 3.987%, 12/10/2047		281,514		268,349
Connecticut Avenue Securities Trust
2021-R01, 6.523% (SOFR30A + 1.550%), 10/25/2041 (b)(c)		480,000		469,491
2022-R01, 6.873% (SOFR30A + 1.900%), 12/25/2041 (b)(c)		915,000		891,585
2022-R03, 8.473% (SOFR30A + 3.500%), 03/25/2042 (b)(c)		1,065,000		1,090,102
2022-R07 1M1, 7.931% (SOFR30A + 2.950%), 06/25/2042 (b)(c)		545,417		559,053
2022-R07 1M2, 9.631% (SOFR30A + 4.650%), 06/25/2042 (b)(c)		1,005,000		1,059,242
2022-R08, 7.523% (SOFR30A + 2.550%), 07/25/2042 (b)(c)		961,215		972,668
2023-R02, 7.273% (SOFR30A + 2.300%), 01/25/2043 (b)(c)		708,791		713,817
Credit Suisse Mortgage Capital Certificates
2019-ICE4, 6.537% (1 Month LIBOR USD + 1.430%), 05/15/2036 (b)(c)		132,670		131,454
CSAIL Commercial Mortgage Trust
2019-C17, 3.016%, 09/15/2029		850,000		743,382
2015-C1, 4.044%, 04/15/2050 (d)		450,000		397,322
2015-C2, 0.714%, 06/15/2057 (d)(e)		1,392,468		13,635
FIVE Mortgage Trust
2023-V1, 6.405%, 02/10/2056 (d)		315,000		292,684
GS Mortgage Securities Trust
2014-GC18, 1.017%, 01/10/2047 (d)(e)		3,146,717		8,400
2014-GC26, 0.915%, 11/10/2047 (d)(e)		1,695,518		16,737
2015-GC34, 3.278%, 10/10/2048		62,068		59,772
2019-GC42, 3.692%, 09/10/2052 (d)		449,000		346,388
2020-GC47, 2.377%, 05/12/2053		73,000		60,501
Hilton USA Trust
2016-HHV, 3.719%, 11/05/2038 (b)		283,000		265,339
J.P. Morgan Chase Commercial Mortgage Securities Trust
2022-OPO, 3.377%, 01/05/2039 (b)		501,000		406,116
Morgan Stanley Capital I Trust
2015-MS1, 3.779%, 05/15/2048 (d)		200,000		190,991
2018-L1, 4.719%, 10/15/2051 (d)		325,000		291,211
2018-H4, 5.070%, 12/15/2051 (d)		293,000		249,376
New Residential Mortgage Loan Trust
2019-NQM5, 2.710%, 11/25/2059 (b)(d)		141,652		127,861
OBX Trust
2021-NQM3, 1.054%, 07/25/2061 (b)(d)		762,973		586,474
Taubman Centers Commercial Mortgage Trust
2022-DPM, 7.991% (TSFR1M + 2.932%), 05/15/2037 (b)(c)		1,045,000		1,015,925
UBS Commercial Mortgage Trust
2017-C2, 3.487%, 08/15/2050		625,000		577,424
2017-C4 AS, 3.836%, 10/15/2050 (d)		200,000		182,319
Verus Securitization Trust
2019-4, 2.642%, 10/25/2059 (b)		39,268		37,795
Wells Fargo Commercial Mortgage Trust
2015-C29, 3.637%, 06/15/2048		130,000		124,244
2016-NXS6, 4.387%, 11/15/2049 (d)		625,000		541,396
2018-C48, 4.302%, 01/15/2052		333,945		318,199
WFRBS Commercial Mortgage Trust
2014-LC14, 1.230%, 03/15/2047 (d)(e)		631,726		2,114
2014-C22 XA, 0.779%, 09/15/2057 (d)(e)		2,766,712		17,854
2014-C22 AS, 4.069%, 09/15/2057 (d)		290,000		272,992
TOTAL NON-AGENCY MORTGAGE BACKED SECURITIES (Cost $28,351,316)				25,109,025

AGENCY MORTGAGE BACKED SECURITIES - 30.43%
Fannie Mae Connecticut Avenue Securities
2017-C06, 7.938% (1 Month LIBOR USD + 2.800%), 02/25/2030 (c)		1,021,015		1,044,805
2017-C07 1M2, 7.538% (1 Month LIBOR USD + 2.400%), 05/25/2030 (c)		474,351		480,889
2018-C01, 7.388% (1 Month LIBOR USD + 2.250%), 07/25/2030 (c)		1,043,749		1,052,341
2018-C02, 7.338% (1 Month LIBOR USD + 2.200%), 08/25/2030 (c)		1,010,956		1,031,975
2018-C04, 7.688% (1 Month LIBOR USD + 2.550%), 12/25/2030 (c)		875,877		894,963
Fannie Mae Interest Strip
#TBA, 4.000%, 08/25/2043 (e)		1,235,667		229,586
Fannie Mae or Freddie Mac
#TBA, 5.500%, 06/01/2037		1,275,000		1,273,705
Fannie Mae Pool
MA0096, 4.500%, 06/01/2029		2,573		2,540
AB3000, 4.500%, 05/01/2031		7,764		7,665
AB1389, 4.500%, 08/01/2040		23,773		23,614
MA0510, 4.500%, 09/01/2040		249		247
AE8714, 3.500%, 11/01/2040		9,209		8,693
890310, 4.500%, 12/01/2040		5,699		5,661
AE0954, 4.500%, 02/01/2041		19,802		19,669
AS7001, 3.000%, 04/01/2041		487,311		443,396
AL0065, 4.500%, 04/01/2041		9,475		9,412
AB3194, 4.500%, 06/01/2041		6,488		6,445
AH7395, 4.500%, 06/01/2041		821		800
FM0040, 3.000%, 10/01/2041		89,962		81,855
AL1547, 4.500%, 11/01/2041		3,783		3,758
AJ6346, 3.500%, 12/01/2041		15,519		14,640
AJ9278, 3.500%, 12/01/2041		4,750		4,481
AK6568, 3.500%, 04/01/2042		19,242		18,152
AK9393, 3.500%, 04/01/2042		9,549		9,008
AO1214, 3.500%, 04/01/2042		52,737		49,751
AL4029, 4.500%, 04/01/2042		27,700		27,515
AL7306, 4.500%, 09/01/2042		16,307		16,038
AP8743, 3.500%, 10/01/2042		147,750		139,375
AQ9330, 3.500%, 01/01/2043		18,899		17,825
AL2897, 3.500%, 01/01/2043		21,221		20,015
AL3714, 3.500%, 01/01/2043		14,261		13,449
AB7965, 3.500%, 02/01/2043		12,261		11,563
AB9046, 3.500%, 04/01/2043		36,818		34,724
AT2021, 3.500%, 04/01/2043		12,695		11,976
AT1001, 3.500%, 04/01/2043		14,400		13,576
AB9260, 3.500%, 05/01/2043		33,694		31,733
AU0949, 3.500%, 08/01/2043		29,374		27,710
AS0212, 3.500%, 08/01/2043		32,953		31,049
AU4658, 4.500%, 09/01/2043		5,464		5,368
MA1600, 3.500%, 10/01/2043		14,283		13,451
AS1333, 4.500%, 12/01/2043		9,474		9,352
AL4450, 4.500%, 12/01/2043		11,130		10,992
AS2516, 4.500%, 05/01/2044		11,837		11,685
AS2751, 4.500%, 06/01/2044		14,385		14,200
MA1926, 4.500%, 06/01/2044		11,998		11,844
AL6223, 4.500%, 08/01/2044		13,431		13,259
AZ0814, 3.500%, 07/01/2045		25,364		23,699
AZ0862, 3.500%, 07/01/2045		43,319		40,476
BM1953, 3.500%, 08/01/2045		53,671		50,628
AZ4775, 3.500%, 10/01/2045		10,784		10,070
CA2929, 3.500%, 12/01/2045		89,942		83,956
AS6311, 3.500%, 12/01/2045		15,678		14,634
AS6464, 3.500%, 01/01/2046		21,266		19,850
BC4114, 3.500%, 02/01/2046		128,613		120,051
AL8219, 4.000%, 02/01/2046		181,457		175,821
AL8387, 4.000%, 03/01/2046		455,765		439,051
FM1370, 3.000%, 04/01/2046		31,694		28,836
BC0793, 3.500%, 04/01/2046		106,483		99,599
AS7200, 4.500%, 05/01/2046		6,371		6,282
AS7388, 3.500%, 06/01/2046		444,020		416,036
AS7580, 3.000%, 07/01/2046		99,845		90,591
AS7801, 3.500%, 08/01/2046		92,623		86,255
MA2737, 3.000%, 09/01/2046		559,558		507,293
AS8056, 3.000%, 10/01/2046		55,413		50,197
MA2771, 3.000%, 10/01/2046		84,498		76,575
BM3932, 3.500%, 10/01/2046		77,065		71,934
AS8269, 3.000%, 11/01/2046		71,218		64,489
AS8700, 4.500%, 01/01/2047		22,627		22,310
MA2872, 4.500%, 01/01/2047		58,567		57,664
AL9879, 3.500%, 02/01/2047		1,332,094		1,241,351
BE5475, 3.500%, 02/01/2047		36,687		34,089
FM4894, 4.000%, 03/01/2047		424,801		408,666
AS8982, 4.500%, 03/01/2047		7,460		7,346
FM1000, 3.000%, 04/01/2047		201,105		181,686
CA5843, 3.000%, 04/01/2047		111,980		101,524
MA2959, 3.500%, 04/01/2047		76,216		70,552
BM5347, 3.500%, 05/01/2047		86,676		80,798
BM5784, 3.500%, 05/01/2047		93,389		87,085
AS9536, 3.500%, 05/01/2047		38,694		35,998
BM5348, 3.500%, 05/01/2047		43,754		40,760
MA3008, 4.500%, 05/01/2047		15,348		14,993
AS9829, 3.500%, 06/01/2047		35,331		32,844
BE3702, 4.000%, 06/01/2047		45,740		43,607
AS9831, 4.000%, 06/01/2047		50,918		48,700
BM5179, 3.000%, 07/01/2047		64,837		58,874
BE3767, 3.500%, 07/01/2047		44,462		41,351
CA0062, 4.000%, 07/01/2047		38,936		37,252
MA3121, 4.000%, 09/01/2047		478,156		456,341
FM4019, 3.500%, 10/01/2047		405,574		377,530
CA0559, 4.500%, 10/01/2047		48,732		47,992
FM1467, 3.000%, 12/01/2047		63,445		58,062
BH7058, 3.500%, 12/01/2047		112,955		104,762
MA3210, 3.500%, 12/01/2047		104,440		97,195
FM2897, 3.000%, 02/01/2048		199,839		181,434
CA4140, 3.000%, 02/01/2048		62,502		56,398
BJ8783, 3.500%, 02/01/2048		67,106		62,319
CA1535, 3.500%, 02/01/2048		21,566		20,032
CA1218, 4.500%, 02/01/2048		34,196		33,486
MA3278, 4.500%, 02/01/2048		203,769		199,802
FM5923, 3.500%, 03/01/2048		548,537		509,627
BJ0648, 3.500%, 03/01/2048		43,992		40,864
BJ0650, 3.500%, 03/01/2048		47,084		43,736
BM3590, 3.500%, 03/01/2048		81,420		75,627
BM3900, 4.000%, 04/01/2048		84,090		80,311
CA1710, 4.500%, 05/01/2048		59,468		58,402
FM1572, 3.000%, 09/01/2048		201,626		182,894
FM2385, 3.000%, 09/01/2048		121,741		109,839
FM2915, 3.000%, 11/01/2048		437,982		399,783
BM5024, 3.000%, 11/01/2048		53,453		48,167
FM5108, 3.500%, 11/01/2048		576,252		536,996
FM1239, 3.500%, 11/01/2048		70,942		65,881
FM2239, 3.000%, 12/01/2048		108,033		97,708
CA2922, 3.000%, 12/01/2048		171,001		153,878
FM1051, 4.500%, 05/01/2049		141,249		138,893
FM4895, 4.000%, 06/01/2049		362,998		347,186
CA3683, 4.500%, 06/01/2049		51,399		50,504
BO2201, 3.000%, 09/01/2049		149,493		133,456
CA4571, 4.000%, 11/01/2049		352,910		336,159
BO6164, 3.000%, 01/01/2050		66,848		59,780
BO8947, 3.000%, 01/01/2050		79,898		71,524
FM3619, 4.500%, 01/01/2050		90,879		88,479
BP2099, 3.000%, 02/01/2050		336,338		300,778
BP1424, 3.000%, 03/01/2050		117,496		104,770
FM7592, 3.500%, 03/01/2050		561,169		520,482
CA5519, 3.000%, 04/01/2050		72,006		64,318
FM4334, 3.000%, 04/01/2050		168,345		150,811
CA5559, 3.500%, 04/01/2050		548,083		507,643
CA5668, 3.000%, 05/01/2050		276,540		247,014
CA6086, 3.000%, 06/01/2050		1,100,712		986,253
BP6466, 3.000%, 07/01/2050		179,119		159,856
BP6481, 4.500%, 07/01/2050		34,483		33,690
BQ0239, 2.500%, 08/01/2050		183,073		158,420
BP6716, 2.500%, 09/01/2050		332,841		286,119
BK3044, 2.500%, 09/01/2050		318,464		273,792
MA4121, 3.000%, 09/01/2050		535,086		479,705
FM9143, 4.500%, 09/01/2050		126,322		123,931
MA4160, 3.000%, 10/01/2050		451,907		403,191
FM7475, 4.500%, 10/01/2050		21,101		20,729
MA4170, 4.500%, 10/01/2050		262,013		256,287
MA4208, 2.000%, 12/01/2050		2,350,624		1,943,986
FM5316, 2.000%, 12/01/2050		184,364		152,432
BR1269, 2.500%, 01/01/2051		724,730		627,111
MA4256, 2.500%, 02/01/2051		660,537		567,231
MA4282, 2.500%, 03/01/2051		421,054		361,970
BR7795, 2.500%, 04/01/2051		670,820		575,507
MA4306, 2.500%, 04/01/2051		271,837		233,257
MA4325, 2.000%, 05/01/2051		683,949		564,475
BT2488, 2.500%, 05/01/2051		426,618		365,770
FM7189, 2.500%, 05/01/2051		480,473		412,206
MA4326, 2.500%, 05/01/2051		449,367		385,635
BT0417, 2.500%, 06/01/2051		289,537		248,247
FM7738, 2.500%, 06/01/2051		481,263		414,132
MA4356, 2.500%, 06/01/2051		895,278		766,131
MA4378, 2.000%, 07/01/2051		645,266		531,698
FS1550, 2.500%, 07/01/2051		338,333		290,882
CB1027, 2.500%, 07/01/2051		257,552		220,679
CB1038, 2.500%, 07/01/2051		315,945		271,932
MA4379, 2.500%, 07/01/2051		352,587		302,306
BT1339, 2.500%, 07/01/2051		749,483		642,207
FM8178, 2.500%, 07/01/2051		791,115		677,852
MA4399, 2.500%, 08/01/2051		2,331,538		1,994,471
FM8360, 2.500%, 08/01/2051		351,741		302,055
FM8422, 2.500%, 08/01/2051		741,097		634,916
BT3273, 2.500%, 08/01/2051		768,695		658,475
BT7263, 2.500%, 09/01/2051		450,924		386,368
CB2852, 2.000%, 11/01/2051		1,318,477		1,089,092
MA4493, 2.500%, 12/01/2051		428,737		367,043
FS0121, 2.000%, 01/01/2052		551,044		454,639
BV4139, 2.500%, 03/01/2052		203,830		175,051
CB3622, 4.000%, 05/01/2052		471,170		445,649
BU8667, 4.000%, 05/01/2052		548,929		519,632
MA4626, 4.000%, 06/01/2052		684,178		647,045
CB3914, 4.000%, 06/01/2052		516,865		488,865
BV2558, 5.000%, 06/01/2052		639,781		630,645
BV2634, 4.000%, 07/01/2052		512,411		484,440
BW0036, 4.500%, 07/01/2052		397,321		387,788
BV2623, 4.500%, 07/01/2052		259,175		250,725
FS2603, 4.500%, 08/01/2052		662,805		641,180
BV7959, 5.000%, 08/01/2052		713,018		703,013
CB4404, 5.000%, 08/01/2052		703,096		692,858
BV8055, 4.500%, 09/01/2052		683,800		661,488
BW6232, 5.000%, 09/01/2052		880,403		867,608
BW1201, 5.000%, 09/01/2052		769,145		758,309
MA4785, 5.000%, 10/01/2052		715,496		704,743
FS3642, 5.000%, 11/01/2052		340,553		335,435
MA4842, 5.500%, 12/01/2052		1,106,063		1,108,460
MA4868, 5.000%, 01/01/2053		660,301		650,377
MA4918, 5.000%, 02/01/2053		698,613		688,426
MA4919, 5.500%, 02/01/2053		631,128		630,726
MA4941, 5.500%, 03/01/2053		680,852		681,751
FS4357, 5.500%, 04/01/2053		549,442		550,209
BW4908, 6.000%, 04/01/2053		478,538		484,949
Fannie Mae Principal Strip
#TBA, 0.000%, 07/15/2037		1,370,000		756,760
Fannie Mae REMICS
2012-70, 0.862% (1 Month LIBOR USD + 6.000%), 07/25/2042 (c)(e)		876,056		105,904
2012-68, 0.912% (1 Month LIBOR USD + 6.050%), 07/25/2042 (c)(e)		1,441,392		162,000
2013-6, 0.962% (1 Month LIBOR USD + 6.100%), 02/25/2043 (c)(e)		934,455		115,453
2013-18, 0.962% (1 Month LIBOR USD + 6.100%), 03/25/2043 (c)(e)		1,022,691		114,605
2014-90, 1.012% (1 Month LIBOR USD + 6.150%), 01/25/2045 (c)(e)		1,556,526		199,937
2015-32, 1.062% (1 Month LIBOR USD + 6.200%), 05/25/2045 (c)(e)		911,628		111,577
2016-40, 0.712% (1 Month LIBOR USD + 5.850%), 07/25/2046 (c)(e)		598,482		62,914
2018-07, 4.000%, 02/25/2048		1,150,719		218,827
2020-52, 4.500%, 08/25/2050		1,053,040		217,906
Freddie Mac Gold Pool
G1-4953, 3.500%, 01/01/2029		13,179		12,757
A8-6315, 4.500%, 05/01/2039		13,648		13,537
A8-6521, 4.500%, 05/01/2039		27,675		27,522
A9-3617, 4.500%, 08/01/2040		2,348		2,335
Q0-0285, 4.500%, 04/01/2041		3,522		3,503
Q0-0876, 4.500%, 05/01/2041		22,180		22,058
Q0-2173, 4.500%, 07/01/2041		15,848		15,760
C0-3795, 3.500%, 04/01/2042		111,001		104,835
Q0-9004, 3.500%, 06/01/2042		10,090		9,529
C0-9004, 3.500%, 07/01/2042		10,748		10,151
Q0-9896, 3.500%, 08/01/2042		13,769		13,004
Q1-1348, 3.500%, 09/01/2042		29,142		27,517
Q1-8305, 3.500%, 05/01/2043		11,833		11,170
Q1-9475, 3.500%, 06/01/2043		20,110		18,980
G6-0030, 3.500%, 07/01/2043		63,115		59,625
Q2-0780, 3.500%, 08/01/2043		25,597		24,159
Q2-0857, 3.500%, 08/01/2043		15,814		14,931
G0-7459, 3.500%, 08/01/2043		12,826		12,108
G0-8541, 3.500%, 08/01/2043		22,483		21,221
Q2-6513, 4.500%, 06/01/2044		11,584		11,445
Q4-5219, 3.500%, 01/01/2045		78,198		73,319
G0-7961, 3.500%, 03/01/2045		17,457		16,379
G0-8636, 3.500%, 04/01/2045		20,257		18,943
Q3-5225, 3.500%, 08/01/2045		10,038		9,384
G0-8659, 3.500%, 08/01/2045		55,512		51,876
G0-8676, 3.500%, 11/01/2045		24,204		22,638
G6-0480, 4.500%, 11/01/2045		9,685		9,576
G0-8681, 3.500%, 12/01/2045		17,930		16,755
Q3-9644, 3.500%, 03/01/2046		83,741		78,256
Q3-9434, 3.500%, 03/01/2046		3,808		3,563
G0-8693, 3.500%, 03/01/2046		4,002		3,740
G0-8702, 3.500%, 04/01/2046		41,138		38,443
G0-8706, 3.500%, 05/01/2046		18,912		17,823
Q4-0718, 3.500%, 05/01/2046		118,812		111,028
Q4-0375, 3.500%, 05/01/2046		27,024		25,253
G0-8708, 4.500%, 05/01/2046		25,722		25,421
Q4-1208, 3.500%, 06/01/2046		59,567		55,755
G0-8721, 3.000%, 09/01/2046		40,552		36,805
G0-8735, 4.500%, 10/01/2046		34,426		33,958
G0-8741, 3.000%, 01/01/2047		742,281		672,624
G0-8743, 4.000%, 01/01/2047		32,585		31,268
Q4-6279, 3.500%, 02/01/2047		44,079		41,124
Q4-6539, 4.500%, 03/01/2047		3,406		3,329
G0-8757, 3.500%, 04/01/2047		7,577		7,060
G0-8759, 4.500%, 04/01/2047		12,294		12,119
V8-3204, 4.500%, 05/01/2047		29,077		28,485
Q4-9100, 4.000%, 07/01/2047		72,931		69,834
Q4-9394, 4.500%, 07/01/2047		60,643		59,688
Q4-9888, 3.500%, 08/01/2047		39,542		36,805
Q5-0035, 3.500%, 08/01/2047		57,910		53,919
Q5-0109, 3.500%, 08/01/2047		7,680		7,151
G6-1228, 4.000%, 08/01/2047		106,233		102,642
G0-8779, 3.500%, 09/01/2047		163,342		150,207
G0-8785, 4.000%, 10/01/2047		83,949		79,787
G6-1631, 3.500%, 11/01/2047		151,662		141,495
Q5-2319, 3.500%, 11/01/2047		126,350		117,511
G6-1467, 4.000%, 11/01/2047		107,795		102,535
G6-1281, 3.500%, 01/01/2048		71,002		66,042
G0-8800, 3.500%, 02/01/2048		95,811		89,059
Q5-4463, 4.000%, 02/01/2048		52,816		50,803
G6-7710, 3.500%, 03/01/2048		133,612		123,880
Freddie Mac Multifamily Structured Pass Through Certificates
K-098, 1.392%, 08/25/2029 (d)(e)		1,985,000		145,540
Freddie Mac Pool
ZS-9972, 3.000%, 03/01/2042		685,502		623,678
ZM-1590, 3.000%, 08/01/2046		486,557		439,746
SD-0035, 3.000%, 04/01/2047		444,407		405,536
ZM-4908, 3.500%, 11/01/2047		202,160		187,798
ZA-5250, 4.000%, 01/01/2048		180,495		173,295
ZS-4759, 3.500%, 03/01/2048		122,268		113,556
ZM-6197, 4.000%, 04/01/2048		440,359		422,213
SD-0298, 3.000%, 11/01/2048		313,935		284,976
ZN-2103, 4.500%, 12/01/2048		30,189		29,661
ZA-7141, 3.000%, 06/01/2049		64,123		57,339
SD-8005, 3.500%, 08/01/2049		569,755		528,744
SD-8013, 4.500%, 09/01/2049		83,066		81,459
SI-2009, 3.000%, 10/01/2049		374,636		335,042
QA-5549, 3.000%, 12/01/2049		209,987		187,607
QA-6750, 3.000%, 02/01/2050		117,439		105,278
QA-7325, 3.000%, 02/01/2050		158,462		141,909
QA-8311, 3.000%, 03/01/2050		186,280		167,730
SD-8068, 3.000%, 06/01/2050		519,402		463,724
RA-2970, 2.500%, 07/01/2050		173,623		149,714
SD-8074, 3.000%, 07/01/2050		76,152		68,077
QB-2682, 2.500%, 08/01/2050		131,146		112,748
SD-8084, 3.000%, 08/01/2050		223,796		199,604
SD-8086, 4.000%, 08/01/2050		165,014		157,243
RA-3484, 3.000%, 09/01/2050		261,209		232,823
SD-8098, 2.000%, 10/01/2050		2,282,467		1,887,703
QB-4785, 2.500%, 10/01/2050		184,516		158,610
QB-6037, 2.500%, 11/01/2050		137,743		118,397
SD-8122, 2.500%, 01/01/2051		394,649		339,242
SD-8129, 2.500%, 02/01/2051		533,107		456,846
RA-4527, 2.500%, 02/01/2051		272,224		234,291
SD-8135, 2.500%, 03/01/2051		190,759		163,993
QC-0945, 2.500%, 04/01/2051		786,750		675,335
SD-8147, 2.500%, 05/01/2051		446,883		383,367
QC-4235, 2.500%, 07/01/2051		679,695		582,251
QC-3907, 2.500%, 07/01/2051		434,032		371,889
SD-8156, 2.500%, 07/01/2051		417,017		357,529
SD-8160, 2.000%, 08/01/2051		800,651		660,301
QC-6209, 2.500%, 08/01/2051		372,303		319,289
QC-5978, 2.500%, 08/01/2051		594,946		510,937
SD-8167, 2.500%, 09/01/2051		1,082,802		927,776
RA-5855, 2.500%, 09/01/2051		715,453		612,198
QC-8520, 2.500%, 10/01/2051		277,807		237,640
SD-0780, 2.500%, 12/01/2051		486,956		417,113
RA-6686, 4.000%, 01/01/2052		223,942		211,904
QE-4039, 4.000%, 06/01/2052		1,185,229		1,121,269
SD-1883, 4.000%, 06/01/2052		629,806		595,632
QE-5474, 4.000%, 07/01/2052		338,592		320,148
SD-1060, 4.000%, 07/01/2052		332,221		314,194
QE-6058, 4.500%, 07/01/2052		864,726		836,520
SD-8231, 4.500%, 07/01/2052		330,701		319,929
SD-8233, 5.000%, 07/01/2052		650,596		641,253
SD-1576, 5.000%, 08/01/2052		884,309		871,928
QE-9381, 4.000%, 09/01/2052		754,105		712,753
SD-1803, 5.500%, 09/01/2052		318,650		319,570
SD-1709, 5.500%, 09/01/2052		776,511		778,125
SD-8258, 5.000%, 10/01/2052		667,397		657,367
SD-1719, 5.500%, 10/01/2052		850,458		853,883
SD-1884, 5.000%, 11/01/2052		105,592		104,028
SD-1913, 5.000%, 11/01/2052		411,510		405,749
SD-8268, 5.500%, 11/01/2052		381,586		382,628
QF-4848, 6.000%, 12/01/2052		599,780		609,147
SD-8289, 5.500%, 01/01/2053		632,391		631,989
QF-6551, 5.500%, 01/01/2053		625,264		624,866
SD-8290, 6.000%, 01/01/2053		168,066		170,580
SD-2174, 6.000%, 01/01/2053		568,452		575,494
SD-2334, 5.000%, 02/01/2053		419,604		414,118
SD-8300, 5.500%, 02/01/2053		150,793		151,077
QF-7085, 5.500%, 02/01/2053		978,107		977,766
SD-8309, 6.000%, 03/01/2053		604,060		612,749
SD-8316, 5.500%, 04/01/2053		491,553		492,063
SD-2913, 5.500%, 05/01/2053		675,000		675,510
SD-3010, 5.500%, 06/01/2053		475,000		475,090
Freddie Mac REMICS
4121, 1.093% (1 Month LIBOR USD + 6.200%), 10/15/2042 (c)(e)		884,940		93,819
4122, 4.000%, 10/15/2042 (e)		914,737		167,238
4159, 1.043% (1 Month LIBOR USD + 6.150%), 01/15/2043 (c)(e)		1,709,596		210,963
4459, 4.000%, 08/15/2043 (e)		1,873,515		332,661
4385, 4.500%, 09/15/2044 (e)		182,599		33,721
4572, 0.943% (1 Month LIBOR USD + 6.050%), 04/15/2046 (c)(e)		405,915		44,974
4583, 0.893% (1 Month LIBOR USD + 6.000%), 05/15/2046 (c)(e)		416,934		39,980
4616, 0.893% (1 Month LIBOR USD + 6.000%), 09/15/2046 (c)(e)		973,998		117,701
4623, 0.893% (1 Month LIBOR USD + 6.000%), 10/15/2046 (c)(e)		901,412		94,138
4648, 0.893% (1 Month LIBOR USD + 6.000%), 01/15/2047 (c)(e)		375,214		44,457
5013, 3.000%, 09/25/2050		2,493,760		359,485
Freddie Mac STACR REMIC Trust
2021-DNA7, 6.773% (SOFR30A + 1.800%), 11/25/2041 (b)(c)		473,000		454,060
2022-DNA2, 7.373% (SOFR30A + 2.400%), 02/25/2042 (b)(c)		990,000		978,382
2022-HQA1, 8.473% (SOFR30A + 3.500%), 03/25/2042 (b)(c)		309,000		313,249
2022-DNA3, 7.873% (SOFR30A + 2.900%), 04/25/2042 (b)(c)		1,162,000		1,161,269
Freddie Mac Structured Agency Credit Risk Debt Notes
2017-HQA3, 7.488% (1 Month LIBOR USD + 2.350%), 04/25/2030 (c)		643,487		652,074
2018-DNA1, 6.938% (1 Month LIBOR USD + 1.800%), 07/25/2030 (c)		285,650		285,882
2018-HQA1, 7.438% (1 Month LIBOR USD + 2.300%), 09/25/2030 (c)		599,098		604,859
Ginnie Mae
#TBA, 5.000%, 06/15/2041		1,105,000		1,090,389
#TBA, 5.500%, 06/15/2053		1,135,000		1,133,847
Ginnie Mae II Pool
MA0699M, 3.500%, 01/20/2043		22,981		21,730
MA0783M, 3.500%, 02/20/2043		31,305		29,606
MA0934M, 3.500%, 04/20/2043		22,322		21,116
MA3663M, 3.500%, 05/20/2046		38,525		36,265
MA3803M, 3.500%, 07/20/2046		14,921		14,031
MA4510M, 3.500%, 06/20/2047		60,722		57,088
MA4586M, 3.500%, 07/20/2047		83,798		78,813
MA4652M, 3.500%, 08/20/2047		56,431		53,036
MA4900M, 3.500%, 12/20/2047		42,553		40,018
MA6542M, 3.500%, 03/20/2050		228,296		214,839
MA6600M, 3.500%, 04/20/2050		17,092		15,986
MA6601M, 4.000%, 04/20/2050		77,287		74,034
MA7192M, 2.000%, 02/20/2051		281,491		239,432
MA7193M, 2.500%, 02/20/2051		282,693		247,863
MA7254M, 2.000%, 03/20/2051		287,013		244,300
MA7255M, 2.500%, 03/20/2051		701,173		614,849
MA7311M, 2.000%, 04/20/2051		818,630		696,828
MA7312M, 2.500%, 04/20/2051		776,400		680,657
MA7367M, 2.500%, 05/20/2051		286,254		250,418
MA7418M, 2.500%, 06/20/2051		599,163		524,572
MA7472M, 2.500%, 07/20/2051		393,137		343,407
MA7589M, 2.500%, 09/20/2051		214,364		187,437
MA7648M, 2.000%, 10/20/2051		287,344		244,083
MA8045M, 4.000%, 05/20/2052		645,864		613,848
MA8099M, 3.500%, 06/20/2052		95,583		88,573
MA8151M, 4.500%, 07/20/2052		892,495		867,024
MA8200M, 4.000%, 08/20/2052		194,459		184,819
MA8201M, 4.500%, 08/20/2052		1,141,361		1,108,373
MA8268M, 4.500%, 09/20/2052		542,513		526,722
MA8269M, 5.000%, 09/20/2052		633,156		625,137
MA8347M, 4.500%, 10/20/2052		206,289		200,366
MA8429M, 5.500%, 11/20/2052		517,498		517,541
MA8569M, 5.000%, 01/20/2053		470,780		465,446
MA8570M, 5.500%, 01/20/2053		346,720		346,579
MA8725M, 5.000%, 03/20/2053		199,006		196,486
Government National Mortgage Association
2013-23, 3.500%, 02/20/2043 (e)		1,031,906		154,870
2015-162, 1.602% (1 Month LIBOR USD + 6.750%), 11/20/2045 (c)(e)		847,202		118,613
2018-007, 1.052% (1 Month LIBOR USD + 6.200%), 01/20/2048 (c)(e)		933,146		101,434
2020-173, 2.500%, 11/20/2050 (e)		2,226,156		292,329
2021-116, 2.500%, 06/20/2051 (e)		2,483,861		343,131
TOTAL AGENCY MORTGAGE BACKED SECURITIES (Cost $118,895,163)				109,543,671

U.S. GOVERNMENT AGENCY ISSUES - 0.53%
Federal Home Loan Mortgage Corp.
0.375%, 09/23/2025		225,000		205,429
Federal National Mortgage Association
0.500%, 11/07/2025		255,000		232,660
0.750%, 10/08/2027		745,000		653,178
0.875%, 08/05/2030		575,000		467,550
Tennessee Valley Authority
5.250%, 09/15/2039		320,000		338,934
TOTAL U.S. GOVERNMENT AGENCY ISSUES (Cost $2,179,056)				1,897,751

U.S. GOVERNMENT NOTES/BONDS - 16.31%
United States Treasury Inflation Indexed Bonds
1.625%, 10/15/2027		9,037,909		9,024,874
1.125%, 01/15/2033		1,585,799		1,538,800
1.000%, 02/15/2049		2,015,160		1,732,247
United States Treasury Note/Bond
3.625%, 05/15/2026		2,370,000		2,343,060
3.625%, 03/31/2028		12,095,000		12,006,650
3.500%, 04/30/2030		4,510,000		4,455,387
3.500%, 02/15/2033		885,000		874,352
3.375%, 05/15/2033		10,670,000		10,439,095
3.875%, 02/15/2043		310,000		303,994
2.875%, 05/15/2043		1,700,000		1,430,191
3.375%, 05/15/2044		1,380,000		1,250,517
2.500%, 02/15/2045		2,155,000		1,672,482
3.125%, 05/15/2048		85,000		73,402
3.000%, 02/15/2049		1,675,000		1,416,618
1.250%, 05/15/2050		1,430,000		799,739
1.875%, 11/15/2051		945,000		620,045
2.875%, 05/15/2052		3,685,000		3,043,004
3.000%, 08/15/2052		5,300,000		4,491,750
3.625%, 05/15/2053		1,255,000		1,203,819
TOTAL U.S. GOVERNMENT NOTES/BONDS (Cost $59,140,436)				58,720,026

		Shares
EXCHANGE TRADED FUNDS - 3.43%
iShares Core U.S. Aggregate Bond ETF (f)		125,156		12,336,627
TOTAL EXCHANGE TRADED FUNDS (Cost $12,504,291)				12,336,627

INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING - 5.18%
Money Market Fund - 5.18%
Mount Vernon Liquid Assets Portfolio, LLC, 5.220% (g)		18,641,639		18,641,639
TOTAL INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING (Cost $18,641,639)				18,641,639

SHORT-TERM INVESTMENTS - 1.30%
First American Government Obligations Fund, Class X, 4.965% (g)		4,663,999		4,663,999
TOTAL SHORT-TERM INVESTMENTS (Cost $4,663,999)				4,663,999

Total Investments (Cost $412,367,517) - 107.02%				385,260,556
Liabilities in Excess of Other Assets - (7.02)%				(25,276,503)
TOTAL NET ASSETS - 100.00%			$	359,984,053

Percentages are stated as a percent of net assets.

(a)	Variable rate security; the rate shown represents the rate at May 31, 2023.
(b)	Securities issued under Rule 144A under the Securities Act of 1933. Such securities are deemed to be liquid.
(c)	Floating rate security; the rate shown represents the rate at May 31, 2023. The coupon is based on an underlying pool of loans and other conditions at the time the loans are securitized.
(d)	Variable rate security; the rate shown represents the rate at May 31, 2023. The coupon is based on an underlying pool of loans and other conditions at the time the loans are securitized.
(e)	Represents an interest-only security that entitles holders to receive only interest payments on underlying mortgages.
(f)	All or portion of this security is out on loan as of May 31, 2023. Total value of securities out on loan is $18,272,806.
(g)	The rate shown represents the seven day yield at May 31, 2023.
(h)	Perpetual maturity. The date referenced is the next call date.

Abbreviations
#TBA	Pool number to be announced

The Global Industry Classification Standard (GICS^®) was developed by and/or is the exclusive property of MSCI, Inc.
and Standard & Poors Financial Services LLC ("S&P"). GICS is a service mark of MSCI and S&P and has been
licensed for use by U.S. Bancorp Fund Services, LLC.

The accompanying notes are an integral part of these financial statements.

Summary of Fair Value Exposure at May 31, 2023

The Fund has adopted Statement of Financial Accounting Standard, “Fair Value Measurements and Disclosures” (“Fair Value Measurements”) and FASB Staff Position “Determining Fair Value when the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identified Transactions that are not Orderly” (“Determining Fair Value”). Determining Fair Value clarifies Fair Value Measurements and requires an entity to evaluate certain factors to determine whether there has been a significant decrease in volume and level of activity for the security such that recent transactions and quoted prices may not be determinative of fair value and further analysis and adjustment may be necessary to estimate fair value. Determining Fair Value also requires enhanced disclosure regarding the inputs and valuation techniques used to measure fair value in those instances as well as expanded disclosure of valuation levels for major security types. Fair Value Measurements requires the Fund to classify securities based on valuation method. These inputs are summarized in the three broad levels listed below:

Level 1 - Quoted prices in active markets for identical securities.
Level 2 - Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 - Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments.)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the Funds' investments carried at fair value as of May 31, 2023.

	Level 1		Level 2		Level 3		Total
Assets:
Fixed Income Securities:
Asset Backed Securities	$	-	$	33,419,498	$	-	$	33,419,498
Corporate Bonds*		-		105,727,714		-		105,727,714
Foreign Corporate Bonds*		-		6,284,616		-		6,284,616
Foreign Government Agency Issues		-		3,625,881		-		3,625,881
Foreign Government Notes/Bonds		-		5,290,109		-		5,290,109
Non-Agency Mortgage Backed Securities		-		25,109,025		-		25,109,025
Agency Mortgage Backed Securities		-		109,543,671		-		109,543,671
U.S. Government Agency Issues		-		1,897,751		-		1,897,751
U.S. Government Notes/Bonds		-		58,720,026		-		58,720,026
Total Fixed Income Securities		-		349,618,291		-		349,618,291
Exchange-Traded Funds		12,336,627		-		-		12,336,627
Money Market Funds		23,305,638		-		-		23,305,638
Total Investments in Securities	$	35,642,265	$	349,618,291	$	-	$	385,260,556

* For further breakdown by industry, please refer to the Schedule of Investments.

The Fund did not hold any Level 3 securities during the period ended May 31, 2023.