NPORT-EX 2 pmccfi-nport.htm NPORT-EX
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.