ActivePassive Core Bond ETF
|
Schedule of Investments
|
as of May 31, 2024 (Unaudited)
|
EXCHANGE TRADED FUNDS - 38.9%
|
Shares
|
Value
|
||||
iShares Core U.S. Aggregate Bond ETF
|
1,438,726
|
$ |
138,865,833
|
|||
iShares MBS ETF
|
655,778
|
59,682,356
|
||||
Vanguard Total International Bond ETF
|
1,412,254
|
68,437,829
|
||||
TOTAL EXCHANGE TRADED FUNDS (Cost $267,978,017)
|
266,986,018
|
|||||
U.S. TREASURY SECURITIES - 24.4%
|
Par
|
Value
|
||||
United States Treasury Note/Bond
|
||||||
4.63%, 02/28/2025
|
1,809,000
|
1,800,691
|
||||
2.63%, 03/31/2025
|
1,307,000
|
1,279,788
|
||||
3.88%, 03/31/2025
|
5,146,000
|
5,090,372
|
||||
0.38%, 04/30/2025
|
512,000
|
490,257
|
||||
2.88%, 04/30/2025
|
1,194,000
|
1,169,344
|
||||
3.88%, 04/30/2025
|
279,000
|
275,672
|
||||
2.13%, 05/15/2025
|
1,958,000
|
1,902,636
|
||||
2.75%, 05/15/2025
|
158,000
|
154,424
|
||||
4.25%, 12/31/2025
|
675,000
|
667,063
|
||||
3.88%, 01/15/2026
|
1,675,000
|
1,645,687
|
||||
4.25%, 01/31/2026
|
259,000
|
255,955
|
||||
4.00%, 02/15/2026
|
369,000
|
363,119
|
||||
4.63%, 02/28/2026
|
295,000
|
293,306
|
||||
4.63%, 03/15/2026
|
1,657,000
|
1,647,776
|
||||
4.50%, 03/31/2026
|
656,000
|
650,990
|
||||
4.88%, 04/30/2026
|
829,000
|
828,417
|
||||
1.88%, 07/31/2026
|
345,000
|
324,219
|
||||
6.75%, 08/15/2026
|
1,661,000
|
1,731,268
|
||||
0.75%, 08/31/2026
|
186,000
|
170,037
|
||||
4.63%, 09/15/2026
|
5,252,000
|
5,228,612
|
||||
2.00%, 11/15/2026
|
673,000
|
630,070
|
||||
4.63%, 11/15/2026
|
5,509,000
|
5,488,556
|
||||
1.63%, 11/30/2026
|
205,000
|
189,993
|
||||
4.38%, 12/15/2026
|
864,000
|
855,866
|
||||
4.00%, 01/15/2027
|
3,055,000
|
2,998,793
|
||||
4.13%, 02/15/2027
|
7,081,000
|
6,971,881
|
||||
4.25%, 03/15/2027
|
548,000
|
541,300
|
||||
4.50%, 05/15/2027
|
2,496,000
|
2,482,253
|
||||
0.50%, 10/31/2027
|
1,136,000
|
988,919
|
||||
6.13%, 11/15/2027
|
1,666,000
|
1,746,209
|
||||
0.63%, 12/31/2027
|
1,422,000
|
1,235,974
|
||||
4.00%, 02/29/2028
|
512,000
|
501,140
|
||||
3.63%, 03/31/2028
|
1,510,000
|
1,458,094
|
||||
1.25%, 05/31/2028
|
5,000
|
4,394
|
||||
1.00%, 07/31/2028
|
3,798,000
|
3,286,976
|
||||
2.88%, 08/15/2028
|
1,173,000
|
1,096,892
|
||||
1.13%, 08/31/2028
|
6,000
|
5,207
|
||||
1.25%, 09/30/2028
|
5,000
|
4,353
|
||||
5.25%, 11/15/2028
|
1,659,000
|
1,706,178
|
||||
1.50%, 11/30/2028
|
1,334,000
|
1,169,465
|
||||
1.38%, 12/31/2028
|
1,311,000
|
1,140,058
|
||||
3.75%, 12/31/2028
|
697,000
|
673,817
|
||||
1.75%, 01/31/2029
|
5,000
|
4,416
|
||||
4.00%, 01/31/2029
|
3,226,000
|
3,151,651
|
||||
4.25%, 02/28/2029
|
296,000
|
292,346
|
||||
4.13%, 03/31/2029
|
11,397,000
|
11,189,984
|
||||
4.63%, 04/30/2029
|
1,432,000
|
1,437,146
|
||||
3.25%, 06/30/2029
|
4,187,000
|
3,942,649
|
||||
4.00%, 02/28/2030
|
1,610,000
|
1,566,354
|
||||
3.63%, 03/31/2030
|
658,000
|
627,452
|
||||
3.50%, 04/30/2030
|
606,000
|
573,688
|
||||
0.63%, 05/15/2030
|
3,436,000
|
2,743,364
|
||||
3.75%, 05/31/2030
|
4,163,000
|
3,992,333
|
||||
3.75%, 06/30/2030
|
1,324,000
|
1,268,868
|
||||
4.00%, 07/31/2030
|
1,582,000
|
1,536,672
|
||||
0.63%, 08/15/2030
|
3,283,000
|
2,597,610
|
||||
4.88%, 10/31/2030
|
627,000
|
638,585
|
||||
0.88%, 11/15/2030
|
1,648,000
|
1,315,696
|
||||
4.38%, 11/30/2030
|
684,000
|
677,855
|
||||
4.00%, 01/31/2031
|
1,256,000
|
1,217,952
|
||||
1.13%, 02/15/2031
|
3,933,000
|
3,175,360
|
||||
4.25%, 02/28/2031
|
450,000
|
442,846
|
||||
4.13%, 03/31/2031
|
1,525,000
|
1,489,496
|
||||
4.63%, 04/30/2031
|
1,220,000
|
1,227,244
|
||||
1.63%, 05/15/2031
|
5,000
|
4,147
|
||||
1.25%, 08/15/2031
|
1,871,000
|
1,498,993
|
||||
1.38%, 11/15/2031
|
2,854,000
|
2,291,617
|
||||
1.88%, 02/15/2032
|
2,677,000
|
2,220,080
|
||||
2.88%, 05/15/2032
|
1,268,000
|
1,129,288
|
||||
2.75%, 08/15/2032
|
1,286,000
|
1,130,952
|
||||
4.13%, 11/15/2032
|
695,000
|
675,670
|
||||
3.50%, 02/15/2033
|
1,414,000
|
1,310,767
|
||||
3.88%, 08/15/2033
|
7,676,000
|
7,301,795
|
||||
4.50%, 11/15/2033
|
3,893,000
|
3,886,613
|
||||
4.00%, 02/15/2034
|
14,123,000
|
13,552,563
|
||||
4.38%, 05/15/2034
|
810,000
|
801,204
|
||||
4.75%, 02/15/2037
|
587,000
|
603,097
|
||||
1.13%, 05/15/2040
|
589,000
|
355,643
|
||||
1.13%, 08/15/2040
|
98,000
|
58,610
|
||||
1.38%, 11/15/2040
|
638,000
|
395,847
|
||||
1.88%, 02/15/2041
|
640,000
|
430,875
|
||||
2.25%, 05/15/2041
|
147,000
|
104,772
|
||||
1.75%, 08/15/2041
|
637,000
|
414,261
|
||||
2.00%, 11/15/2041
|
615,000
|
415,666
|
||||
3.13%, 11/15/2041
|
19,000
|
15,418
|
||||
2.38%, 02/15/2042
|
1,072,000
|
768,657
|
||||
3.13%, 02/15/2042
|
971,000
|
784,803
|
||||
3.25%, 05/15/2042
|
623,000
|
511,055
|
||||
3.88%, 02/15/2043
|
580,000
|
517,095
|
||||
3.88%, 05/15/2043
|
51,000
|
45,396
|
||||
4.38%, 08/15/2043
|
264,000
|
251,481
|
||||
3.75%, 11/15/2043
|
3,298,000
|
2,874,928
|
||||
4.75%, 11/15/2043
|
221,000
|
221,000
|
||||
4.50%, 02/15/2044
|
74,000
|
71,618
|
||||
3.38%, 05/15/2044
|
1,040,000
|
854,303
|
||||
2.75%, 08/15/2047
|
194,000
|
139,256
|
||||
2.75%, 11/15/2047
|
187,000
|
133,939
|
||||
3.13%, 05/15/2048
|
360,000
|
275,808
|
||||
3.00%, 08/15/2048
|
515,000
|
384,902
|
||||
3.38%, 11/15/2048
|
373,000
|
298,385
|
||||
3.00%, 02/15/2049
|
660,000
|
492,164
|
||||
2.88%, 05/15/2049
|
666,000
|
483,956
|
||||
2.25%, 08/15/2049
|
1,752,000
|
1,113,067
|
||||
2.38%, 11/15/2049
|
795,000
|
518,753
|
||||
2.00%, 02/15/2050
|
338,000
|
201,493
|
||||
1.38%, 08/15/2050
|
2,028,000
|
1,016,337
|
||||
1.63%, 11/15/2050
|
364,000
|
195,202
|
||||
1.88%, 02/15/2051
|
1,403,000
|
803,026
|
||||
2.38%, 05/15/2051
|
1,372,000
|
886,816
|
||||
2.00%, 08/15/2051
|
540,000
|
317,756
|
||||
1.88%, 11/15/2051
|
2,493,000
|
1,416,969
|
||||
2.25%, 02/15/2052
|
2,113,000
|
1,319,057
|
||||
2.88%, 05/15/2052
|
838,000
|
602,836
|
||||
3.00%, 08/15/2052
|
296,000
|
218,560
|
||||
3.63%, 02/15/2053
|
686,000
|
572,810
|
||||
3.63%, 05/15/2053
|
605,000
|
505,293
|
||||
4.13%, 08/15/2053
|
499,000
|
456,371
|
||||
4.75%, 11/15/2053
|
2,527,000
|
2,567,077
|
||||
4.25%, 02/15/2054
|
400,000
|
374,062
|
||||
4.63%, 05/15/2054
|
715,000
|
711,928
|
||||
TOTAL U.S. TREASURY SECURITIES
(Cost $170,515,264)
|
167,759,625
|
|||||
CORPORATE BONDS - 16.3%
|
Par
|
Value
|
||||
Automobiles & Components - 0.4%
|
||||||
American Axle & Manufacturing, Inc., 6.88%, 07/01/2028
|
165,000
|
163,923
|
||||
American Honda Finance Corp., 4.60%, 04/17/2030
|
55,000
|
53,690
|
||||
Ford Motor Co., 6.10%, 08/19/2032
|
248,000
|
247,027
|
||||
General Motors Co., 6.80%, 10/01/2027
|
370,000
|
383,479
|
||||
General Motors Financial Co., Inc.
|
||||||
4.00%, 01/15/2025
|
393,000
|
388,952
|
||||
4.30%, 07/13/2025
|
5,000
|
4,926
|
||||
5.85%, 04/06/2030
|
45,000
|
45,333
|
||||
Goodyear Tire & Rubber Co., 5.25%, 04/30/2031
|
80,000
|
72,642
|
||||
Penske Truck Leasing Co. Lp / PTL Finance Corp.
|
||||||
4.00%, 07/15/2025(a)
|
336,000
|
329,773
|
||||
1.20%, 11/15/2025(a)
|
200,000
|
187,620
|
||||
Volkswagen Group of America Finance LLC
|
||||||
1.63%, 11/24/2027(a)
|
332,000
|
292,307
|
||||
6.20%, 11/16/2028(a)
|
344,000
|
354,493
|
||||
6.45%, 11/16/2030(a)
|
200,000
|
209,324
|
||||
ZF North America Capital, Inc., 6.88%, 04/14/2028 (a)
|
150,000
|
152,720
|
||||
2,886,209
|
||||||
Banks - 2.1%
|
||||||
Bank of America Corp.
|
||||||
1.73% to 07/22/2026 then SOFR + 0.96%, 07/22/2027
|
637,000
|
588,039
|
||||
3.82% to 01/20/2027 then 3 mo. Term SOFR + 1.84%, 01/20/2028
|
1,302,000
|
1,251,002
|
||||
5.20% to 04/25/2028 then SOFR + 1.63%, 04/25/2029
|
264,000
|
262,305
|
||||
5.29% to 04/25/2033 then SOFR + 1.91%, 04/25/2034
|
19,000
|
18,680
|
||||
2.48% to 09/21/2031 then 5 yr. CMT Rate + 1.20%, 09/21/2036
|
776,000
|
620,034
|
||||
Citibank NA, 5.57%, 04/30/2034
|
255,000
|
258,161
|
||||
Citigroup, Inc.
|
||||||
1.12% to 01/28/2026 then SOFR + 0.77%, 01/28/2027
|
754,000
|
701,325
|
||||
3.89% to 01/10/2027 then 3 mo. Term SOFR + 1.82%, 01/10/2028
|
210,000
|
202,179
|
||||
3.07% to 02/24/2027 then SOFR + 1.28%, 02/24/2028
|
749,000
|
704,443
|
||||
3.98% to 03/20/2029 then 3 mo. Term SOFR + 1.60%, 03/20/2030
|
510,000
|
479,127
|
||||
4.41% to 03/31/2030 then SOFR + 3.91%, 03/31/2031
|
122,000
|
115,725
|
||||
6.17% to 05/25/2033 then SOFR + 2.66%, 05/25/2034
|
1,401,000
|
1,421,022
|
||||
5.32% to 03/26/2040 then SOFR + 4.55%, 03/26/2041
|
732,000
|
706,366
|
||||
Fifth Third Bancorp, 4.34% to 04/25/2032 then SOFR + 1.66%, 04/25/2033
|
335,000
|
304,431
|
||||
First-Citizens Bank & Trust Co., 6.13%, 03/09/2028
|
358,000
|
365,837
|
||||
JPMorgan Chase & Co.
|
||||||
1.05% to 11/19/2025 then SOFR + 0.80%, 11/19/2026
|
401,000
|
375,431
|
||||
3.54% to 05/01/2027 then 3 mo. Term SOFR + 1.64%, 05/01/2028
|
412,000
|
391,907
|
||||
6.25% to 10/23/2033 then SOFR + 1.81%, 10/23/2034
|
355,000
|
374,053
|
||||
Morgan Stanley Bank NA, 5.48%, 07/16/2025
|
376,000
|
376,360
|
||||
Nationstar Mortgage Holdings, Inc., 7.13%, 02/01/2032 (a)
|
197,000
|
196,219
|
||||
PNC Financial Services Group, Inc.
|
||||||
6.88% to 10/20/2033 then SOFR + 2.28%, 10/20/2034
|
360,000
|
389,578
|
||||
5.68% to 01/22/2034 then SOFR + 1.90%, 01/22/2035
|
5,000
|
4,991
|
||||
Santander Holdings USA, Inc.
|
||||||
6.12% to 05/31/2026 then SOFR + 1.23%, 05/31/2027
|
115,000
|
115,389
|
||||
6.34% to 05/31/2034 then SOFR + 2.14%, 05/31/2035
|
390,000
|
389,879
|
||||
Synovus Financial Corp., 5.20%, 08/11/2025
|
11,000
|
10,883
|
||||
Truist Financial Corp.
|
||||||
4.26% to 07/28/2025 then SOFR + 1.46%, 07/28/2026
|
505,000
|
496,703
|
||||
5.71% to 01/24/2034 then SOFR + 1.92%, 01/24/2035
|
335,000
|
332,371
|
||||
US Bancorp
|
||||||
6.79% to 10/26/2026 then SOFR + 1.88%, 10/26/2027
|
226,000
|
232,532
|
||||
5.84% to 06/10/2033 then SOFR + 2.26%, 06/12/2034
|
250,000
|
251,684
|
||||
Wells Fargo & Co.
|
||||||
3.91% to 04/25/2025 then SOFR + 1.32%, 04/25/2026
|
7,000
|
6,887
|
||||
2.19% to 04/30/2025 then SOFR + 2.00%, 04/30/2026
|
777,000
|
752,527
|
||||
2.39% to 06/02/2027 then SOFR + 2.10%, 06/02/2028
|
466,000
|
427,189
|
||||
4.81% to 07/25/2027 then SOFR + 1.98%, 07/25/2028
|
487,000
|
477,992
|
||||
5.39% to 04/24/2033 then SOFR + 2.02%, 04/24/2034
|
28,000
|
27,516
|
||||
5.56% to 07/25/2033 then SOFR + 1.99%, 07/25/2034
|
107,000
|
106,364
|
||||
5.50% to 01/23/2034 then SOFR + 1.78%, 01/23/2035
|
430,000
|
425,770
|
||||
5.38%, 11/02/2043
|
175,000
|
165,544
|
||||
14,326,445
|
||||||
Capital Goods - 0.9%
|
||||||
AGCO Corp., 5.45%, 03/21/2027
|
10,000
|
9,983
|
||||
Air Lease Corp.
|
||||||
1.88%, 08/15/2026
|
364,000
|
336,038
|
||||
3.25%, 10/01/2029
|
406,000
|
365,109
|
||||
Boeing Co.
|
||||||
2.20%, 02/04/2026
|
534,000
|
501,250
|
||||
5.04%, 05/01/2027
|
1,085,000
|
1,059,797
|
||||
Carrier Global Corp., 5.90%, 03/15/2034
|
411,000
|
426,373
|
||||
CNH Industrial Capital LLC
|
||||||
1.45%, 07/15/2026
|
370,000
|
340,707
|
||||
4.55%, 04/10/2028
|
192,000
|
186,893
|
||||
Cummins, Inc.
|
||||||
5.15%, 02/20/2034
|
65,000
|
64,766
|
||||
5.45%, 02/20/2054
|
140,000
|
136,906
|
||||
Howmet Aerospace, Inc., 6.75%, 01/15/2028
|
364,000
|
379,402
|
||||
Mauser Packaging Solutions Holding Co., 7.88%, 04/15/2027 (a)
|
150,000
|
153,031
|
||||
Nordson Corp., 5.80%, 09/15/2033
|
97,000
|
99,169
|
||||
Northrop Grumman Corp., 4.95%, 03/15/2053
|
703,000
|
634,433
|
||||
Regal Rexnord Corp.
|
||||||
6.05%, 04/15/2028
|
60,000
|
60,733
|
||||
6.40%, 04/15/2033
|
555,000
|
570,643
|
||||
Rockwell Automation, Inc., 6.70%, 01/15/2028
|
293,000
|
308,584
|
||||
RTX Corp., 6.40%, 03/15/2054
|
440,000
|
478,769
|
||||
6,112,586
|
||||||
Commercial & Professional Services - 0.5%
|
||||||
Bayer US Finance II LLC, 4.20%, 07/15/2034 (a)
|
113,000
|
96,282
|
||||
BMW US Capital LLC
|
||||||
4.90%, 04/02/2029(a)
|
379,000
|
375,245
|
||||
4.15%, 04/09/2030(a)
|
164,000
|
156,375
|
||||
Daimler Truck Finance North America LLC
|
||||||
2.38%, 12/14/2028(a)
|
458,000
|
404,696
|
||||
5.50%, 09/20/2033(a)
|
230,000
|
230,407
|
||||
Enel Finance America LLC, 7.10%, 10/14/2027 (a)
|
200,000
|
209,802
|
||||
Equifax, Inc., 5.10%, 12/15/2027
|
275,000
|
272,552
|
||||
EquipmentShare.com, Inc., 9.00%, 05/15/2028 (a)
|
65,000
|
67,129
|
||||
Foundry JV Holdco LLC, 6.25%, 01/25/2035 (a)
|
955,000
|
974,816
|
||||
Global Atlantic Fin Co., 6.75%, 03/15/2054 (a)
|
13,000
|
12,965
|
||||
Harvest Midstream I LP, 7.50%, 09/01/2028 (a)
|
35,000
|
35,466
|
||||
IQVIA, Inc., 6.25%, 02/01/2029
|
196,000
|
200,803
|
||||
Olympus Water US Holding Corp., 9.75%, 11/15/2028 (a)
|
200,000
|
212,780
|
||||
Republic Services, Inc.
|
||||||
5.00%, 04/01/2034
|
212,000
|
206,557
|
||||
5.70%, 05/15/2041
|
129,000
|
129,350
|
||||
Waste Management, Inc., 3.90%, 03/01/2035
|
65,000
|
57,394
|
||||
3,642,619
|
||||||
Consumer Discretionary Distribution & Retail - 0.1%
|
||||||
Arko Corp., 5.13%, 11/15/2029 (a)
|
132,000
|
112,158
|
||||
Bath & Body Works, Inc., 6.63%, 10/01/2030 (a)
|
75,000
|
75,150
|
||||
Cargill, Inc.
|
||||||
5.13%, 10/11/2032(a)
|
222,000
|
221,248
|
||||
4.75%, 04/24/2033(a)
|
84,000
|
80,968
|
||||
Genuine Parts Co., 6.88%, 11/01/2033
|
117,000
|
128,117
|
||||
Lowe's Cos., Inc., 5.75%, 07/01/2053
|
119,000
|
117,094
|
||||
Macy's Retail Holdings LLC, 5.88%, 03/15/2030 (a)
|
75,000
|
71,634
|
||||
806,369
|
||||||
Consumer Durables & Apparel - 0.1%
|
||||||
Dell International LLC / EMC Corp., 5.40%, 04/15/2034
|
287,000
|
282,501
|
||||
Whirlpool Corp., 5.50%, 03/01/2033
|
132,000
|
128,783
|
||||
411,284
|
||||||
Consumer Services - 0.1%
|
||||||
American University/The, 3.67%, 04/01/2049
|
7,000
|
5,380
|
||||
Brightline East LLC, 11.00%, 01/31/2030 (a)
|
200,000
|
189,793
|
||||
Churchill Downs, Inc., 6.75%, 05/01/2031 (a)
|
80,000
|
79,699
|
||||
George Washington University/The, 4.30%, 09/15/2044
|
5,000
|
4,362
|
||||
Marriott International, Inc./MD, 5.00%, 10/15/2027
|
103,000
|
102,360
|
||||
University of Chicago, 2.76%, 04/01/2045
|
87,000
|
65,769
|
||||
447,363
|
||||||
Consumer Staples Distribution & Retail - 0.1%
|
||||||
Sysco Corp., 4.45%, 03/15/2048
|
164,000
|
135,739
|
||||
Walmart, Inc.
|
||||||
4.00%, 04/15/2026
|
160,000
|
157,368
|
||||
3.90%, 04/15/2028
|
150,000
|
145,496
|
||||
4.00%, 04/15/2030
|
69,000
|
66,559
|
||||
505,162
|
||||||
Energy - 2.4%
|
||||||
Arizona Public Service Co., 2.95%, 09/15/2027
|
92,000
|
85,604
|
||||
BP Capital Markets America, Inc.
|
||||||
4.81%, 02/13/2033
|
265,000
|
255,961
|
||||
4.99%, 04/10/2034
|
181,000
|
175,930
|
||||
Brooklyn Union Gas Co., 6.39%, 09/15/2033 (a)
|
548,000
|
557,800
|
||||
Cameron LNG LLC, 3.40%, 01/15/2038 (a)
|
526,000
|
423,728
|
||||
CenterPoint Energy Houston Electric LLC, 5.30%, 04/01/2053
|
122,000
|
117,848
|
||||
Cheniere Energy Partners LP, 4.00%, 03/01/2031
|
354,000
|
319,247
|
||||
Comstock Resources, Inc., 6.75%, 03/01/2029 (a)
|
80,000
|
77,375
|
||||
Consolidated Edison Co. of New York, Inc., 3.20%, 12/01/2051
|
635,000
|
419,169
|
||||
Constellation Energy Generation LLC
|
||||||
6.25%, 10/01/2039
|
178,000
|
184,240
|
||||
5.75%, 03/15/2054
|
255,000
|
246,800
|
||||
DCP Midstream Operating LP
|
||||||
6.45%, 11/03/2036(a)
|
838,000
|
874,311
|
||||
6.75%, 09/15/2037(a)
|
348,000
|
372,529
|
||||
Diamondback Energy, Inc.
|
||||||
5.20%, 04/18/2027
|
140,000
|
139,656
|
||||
5.15%, 01/30/2030
|
210,000
|
207,862
|
||||
6.25%, 03/15/2053
|
310,000
|
319,377
|
||||
5.75%, 04/18/2054
|
65,000
|
62,590
|
||||
5.90%, 04/18/2064
|
220,000
|
211,617
|
||||
DT Midstream, Inc., 4.13%, 06/15/2029 (a)
|
80,000
|
73,229
|
||||
DTE Electric Co., 3.65%, 03/01/2052
|
19,000
|
13,895
|
||||
Duke Energy Indiana LLC, 5.40%, 04/01/2053
|
113,000
|
106,840
|
||||
Energy Transfer LP
|
||||||
2.90%, 05/15/2025
|
310,000
|
301,862
|
||||
5.63%, 05/01/2027(a)
|
71,000
|
70,831
|
||||
6.00%, 02/01/2029(a)
|
703,000
|
707,208
|
||||
5.25%, 04/15/2029
|
822,000
|
816,844
|
||||
5.55%, 05/15/2034
|
285,000
|
280,434
|
||||
5.95%, 05/15/2054
|
290,000
|
278,991
|
||||
EQM Midstream Partners LP, 4.13%, 12/01/2026
|
150,000
|
144,231
|
||||
EQT Corp., 5.75%, 02/01/2034
|
3,000
|
2,970
|
||||
Evergy Metro, Inc., 4.95%, 04/15/2033
|
60,000
|
57,886
|
||||
FirstEnergy Pennsylvania Electric Co., 5.20%, 04/01/2028 (a)
|
349,000
|
347,732
|
||||
Genesis Energy LP / Genesis Energy Finance Corp., 8.88%, 04/15/2030
|
30,000
|
31,375
|
||||
Gulfstream Natural Gas System LLC, 6.19%, 11/01/2025 (a)
|
293,000
|
293,586
|
||||
Hilcorp Energy I LP / Hilcorp Finance Co., 6.25%, 11/01/2028 (a)
|
100,000
|
98,680
|
||||
Indianapolis Power & Light Co., 5.70%, 04/01/2054 (a)
|
270,000
|
263,699
|
||||
Kinder Morgan, Inc., 5.20%, 06/01/2033
|
463,000
|
446,412
|
||||
Marathon Petroleum Corp., 4.70%, 05/01/2025
|
950,000
|
941,531
|
||||
MidAmerican Energy Co., 5.75%, 11/01/2035
|
230,000
|
236,307
|
||||
Motiva Enterprises LLC, 6.85%, 01/15/2040 (a)
|
36,000
|
37,734
|
||||
Narragansett Electric Co., 5.35%, 05/01/2034 (a)
|
132,000
|
130,191
|
||||
New Fortress Energy, Inc., 6.50%, 09/30/2026 (a)
|
50,000
|
47,087
|
||||
New York State Electric & Gas Corp., 5.85%, 08/15/2033 (a)
|
20,000
|
20,271
|
||||
NextEra Energy Capital Holdings, Inc., 4.90%, 02/28/2028
|
230,000
|
227,137
|
||||
NGPL PipeCo LLC, 4.88%, 08/15/2027 (a)
|
129,000
|
125,580
|
||||
Northern Natural Gas Co.
|
||||||
3.40%, 10/16/2051(a)
|
88,000
|
58,931
|
||||
5.63%, 02/01/2054(a)
|
85,000
|
83,162
|
||||
Northern Oil & Gas, Inc., 8.13%, 03/01/2028 (a)
|
149,000
|
151,626
|
||||
Occidental Petroleum Corp.
|
||||||
3.50%, 08/15/2029
|
72,000
|
65,184
|
||||
6.13%, 01/01/2031
|
210,000
|
214,414
|
||||
7.88%, 09/15/2031
|
109,000
|
122,257
|
||||
6.45%, 09/15/2036
|
215,000
|
224,179
|
||||
6.60%, 03/15/2046
|
405,000
|
424,014
|
||||
Oglethorpe Power Corp.
|
||||||
5.38%, 11/01/2040
|
34,000
|
31,848
|
||||
4.55%, 06/01/2044
|
27,000
|
21,855
|
||||
Ovintiv, Inc., 7.10%, 07/15/2053
|
380,000
|
421,406
|
||||
Phillips 66, 1.30%, 02/15/2026
|
255,000
|
238,208
|
||||
PPL Electric Utilities Corp., 4.85%, 02/15/2034
|
100,000
|
96,645
|
||||
Public Service Co. of Colorado, 5.25%, 04/01/2053
|
104,000
|
95,240
|
||||
Public Service Electric and Gas Co., 5.13%, 03/15/2053
|
117,000
|
109,942
|
||||
Rochester Gas and Electric Corp., 3.10%, 06/01/2027 (a)
|
698,000
|
656,761
|
||||
Sabine Pass Liquefaction LLC, 4.50%, 05/15/2030
|
331,000
|
315,785
|
||||
San Diego Gas & Electric Co., 5.35%, 04/01/2053
|
48,000
|
45,339
|
||||
Southern Co. Gas Capital Corp., 1.75%, 01/15/2031
|
290,000
|
233,891
|
||||
Southwestern Energy Co., 5.38%, 03/15/2030
|
164,000
|
157,855
|
||||
Tampa Electric Co., 4.90%, 03/01/2029
|
264,000
|
260,884
|
||||
Targa Resources Corp., 5.20%, 07/01/2027
|
301,000
|
299,648
|
||||
Transcontinental Gas Pipe Line Co. LLC, 4.00%, 03/15/2028
|
341,000
|
326,128
|
||||
Valero Energy Corp., 6.63%, 06/15/2037
|
300,000
|
319,748
|
||||
Venture Global LNG, Inc., 9.50%, 02/01/2029 (a)
|
149,000
|
161,715
|
||||
Vistra Operations Co. LLC
|
||||||
3.70%, 01/30/2027(a)
|
173,000
|
163,977
|
||||
4.38%, 05/01/2029(a)
|
100,000
|
92,661
|
||||
6.95%, 10/15/2033(a)
|
115,000
|
122,588
|
||||
Williams Cos., Inc., 5.30%, 08/15/2028
|
89,000
|
88,947
|
||||
16,759,025
|
||||||
Equity Real Estate Investment Trusts (REITs) - 0.2%
|
||||||
Crown Castle, Inc., 1.05%, 07/15/2026
|
150,000
|
136,672
|
||||
EPR Properties
|
||||||
4.50%, 04/01/2025
|
25,000
|
24,673
|
||||
3.75%, 08/15/2029
|
303,000
|
269,367
|
||||
Iron Mountain, Inc.
|
||||||
5.25%, 07/15/2030(a)
|
90,000
|
84,223
|
||||
4.50%, 02/15/2031(a)
|
181,000
|
161,245
|
||||
Kimco Realty OP LLC, 4.60%, 02/01/2033
|
355,000
|
331,089
|
||||
Realty Income Corp.
|
||||||
4.70%, 12/15/2028
|
103,000
|
100,356
|
||||
4.00%, 07/15/2029
|
202,000
|
190,052
|
||||
3.10%, 12/15/2029
|
161,000
|
143,870
|
||||
1,441,547
|
||||||
Financial Services - 2.5%
|
||||||
American Express Co.
|
||||||
5.53% to 04/25/2029 then SOFR + 1.09%, 04/25/2030
|
260,000
|
262,117
|
||||
6.49% to 10/30/2030 then SOFR + 1.94%, 10/30/2031
|
230,000
|
244,612
|
||||
5.92% to 04/25/2034 then SOFR + 1.63%, 04/25/2035
|
475,000
|
480,221
|
||||
Bank of New York Mellon Corp.
|
||||||
3.75% to 12/20/2026 then 5 yr. CMT Rate + 2.63%, Perpetual
|
320,000
|
294,536
|
||||
6.47% to 10/25/2033 then SOFR + 1.85%, 10/25/2034
|
177,000
|
190,478
|
||||
Blackstone Holdings Finance Co. LLC, 3.15%, 10/02/2027 (a)
|
35,000
|
32,701
|
||||
Blackstone Private Credit Fund, 4.70%, 03/24/2025
|
197,000
|
194,920
|
||||
Capital One Financial Corp.
|
||||||
4.99% to 07/24/2025 then SOFR + 2.16%, 07/24/2026
|
295,000
|
292,267
|
||||
6.31% to 06/08/2028 then SOFR + 2.64%, 06/08/2029
|
616,000
|
627,874
|
||||
7.62% to 10/30/2030 then SOFR + 3.07%, 10/30/2031
|
170,000
|
185,687
|
||||
5.82% to 02/01/2033 then SOFR + 2.60%, 02/01/2034
|
462,000
|
455,191
|
||||
6.05% to 02/01/2034 then SOFR + 2.26%, 02/01/2035
|
255,000
|
255,714
|
||||
Carlyle Finance LLC, 5.65%, 09/15/2048 (a)
|
51,000
|
48,728
|
||||
Charles Schwab Corp., 4.00% to 06/01/2026 then 5 yr. CMT Rate + 3.17%, Perpetual
|
353,000
|
328,771
|
||||
Corebridge Financial, Inc., 5.75%, 01/15/2034
|
395,000
|
397,018
|
||||
Corebridge Global Funding, 5.20%, 01/12/2029 (a)
|
147,000
|
145,813
|
||||
CRH America Finance, Inc., 5.40%, 05/21/2034
|
320,000
|
316,088
|
||||
FirstCash, Inc., 6.88%, 03/01/2032 (a)
|
136,000
|
135,060
|
||||
Freedom Mortgage Corp., 12.25%, 10/01/2030 (a)
|
116,000
|
127,239
|
||||
General Motors Financial Co., Inc.
|
||||||
6.05%, 10/10/2025
|
573,000
|
575,877
|
||||
5.75%, 02/08/2031
|
476,000
|
475,209
|
||||
Goldman Sachs Group, Inc.
|
||||||
3.27% to 09/29/2024 then 3 mo. Term SOFR + 1.46%, 09/29/2025
|
720,000
|
714,090
|
||||
1.43% to 03/09/2026 then SOFR + 0.80%, 03/09/2027
|
1,024,000
|
952,430
|
||||
1.95% to 10/21/2026 then SOFR + 0.91%, 10/21/2027
|
768,000
|
705,963
|
||||
3.81% to 04/23/2028 then 3 mo. Term SOFR + 1.42%, 04/23/2029
|
697,000
|
657,688
|
||||
2.60%, 02/07/2030
|
369,000
|
320,953
|
||||
6.13%, 02/15/2033
|
211,000
|
222,547
|
||||
Hyundai Capital America
|
||||||
1.80%, 10/15/2025(a)
|
401,000
|
380,462
|
||||
1.50%, 06/15/2026(a)
|
233,000
|
214,492
|
||||
3.50%, 11/02/2026(a)
|
94,000
|
89,494
|
||||
5.30%, 03/19/2027(a)
|
10,000
|
9,952
|
||||
Jane Street Group / JSG Finance, Inc., 7.13%, 04/30/2031 (a)
|
244,000
|
248,488
|
||||
Jefferson Capital Holdings LLC, 9.50%, 02/15/2029 (a)
|
133,000
|
136,876
|
||||
Mercedes-Benz Finance North America LLC
|
||||||
3.50%, 08/03/2025(a)
|
726,000
|
710,302
|
||||
4.80%, 03/30/2026(a)
|
436,000
|
432,471
|
||||
3.75%, 02/22/2028(a)
|
1,071,000
|
1,022,893
|
||||
2.63%, 03/10/2030(a)
|
857,000
|
751,909
|
||||
Morgan Stanley
|
||||||
2.72% to 07/22/2024 then SOFR + 1.15%, 07/22/2025
|
345,000
|
343,472
|
||||
3.63%, 01/20/2027
|
365,000
|
350,889
|
||||
2.48% to 01/21/2027 then SOFR + 1.00%, 01/21/2028
|
160,000
|
148,562
|
||||
3.59%, 07/22/2028(b)
|
208,000
|
197,196
|
||||
5.16% to 04/20/2028 then SOFR + 1.59%, 04/20/2029
|
133,000
|
131,968
|
||||
5.42% to 07/21/2033 then SOFR + 1.88%, 07/21/2034
|
190,000
|
187,797
|
||||
5.83% to 04/19/2034 then SOFR + 1.58%, 04/19/2035
|
250,000
|
254,428
|
||||
5.95% to 01/19/2033 then 5 yr. CMT Rate + 2.43%, 01/19/2038
|
355,000
|
352,047
|
||||
OneMain Finance Corp., 3.50%, 01/15/2027
|
80,000
|
74,046
|
||||
PRA Group, Inc., 5.00%, 10/01/2029 (a)
|
286,000
|
242,061
|
||||
Prime Security Services Borrower LLC / Prime Finance, Inc., 6.25%, 01/15/2028 (a)
|
100,000
|
98,405
|
||||
Radian Group, Inc., 6.20%, 05/15/2029
|
280,000
|
281,449
|
||||
S&P Global, Inc.
|
||||||
3.70%, 03/01/2052
|
185,000
|
139,382
|
||||
3.90%, 03/01/2062
|
119,000
|
88,582
|
||||
State Street Corp., 6.12% to 11/21/2033 then SOFR + 1.96%, 11/21/2034
|
354,000
|
365,619
|
||||
StoneX Group, Inc., 7.88%, 03/01/2031 (a)
|
159,000
|
162,835
|
||||
United Wholesale Mortgage LLC, 5.50%, 04/15/2029 (a)
|
341,000
|
319,582
|
||||
17,375,451
|
||||||
Food, Beverage & Tobacco - 0.6%
|
||||||
Anheuser-Busch InBev Finance, Inc.
|
||||||
4.70%, 02/01/2036
|
403,000
|
379,815
|
||||
4.90%, 02/01/2046
|
182,000
|
164,955
|
||||
Anheuser-Busch InBev Worldwide, Inc.
|
||||||
5.00%, 06/15/2034
|
320,000
|
314,070
|
||||
8.20%, 01/15/2039
|
355,000
|
448,817
|
||||
Aramark Services, Inc., 5.00%, 02/01/2028 (a)
|
150,000
|
143,515
|
||||
Campbell Soup Co.
|
||||||
5.30%, 03/20/2026
|
10,000
|
9,977
|
||||
4.80%, 03/15/2048
|
475,000
|
412,552
|
||||
Constellation Brands, Inc., 4.90%, 05/01/2033
|
655,000
|
628,849
|
||||
J M Smucker Co., 6.20%, 11/15/2033
|
355,000
|
370,352
|
||||
Performance Food Group, Inc., 5.50%, 10/15/2027 (a)
|
50,000
|
48,799
|
||||
Philip Morris International, Inc.
|
||||||
5.13%, 02/15/2030
|
580,000
|
575,004
|
||||
5.75%, 11/17/2032
|
405,000
|
412,892
|
||||
5.63%, 09/07/2033
|
356,000
|
358,566
|
||||
4,268,163
|
||||||
Health Care Equipment & Services - 0.9%
|
||||||
Acadia Healthcare Co, Inc., 5.00%, 04/15/2029 (a)
|
70,000
|
66,057
|
||||
Adventist Health System/West, 3.63%, 03/01/2049
|
33,000
|
23,742
|
||||
Allina Health System, 4.81%, 11/15/2045
|
511,000
|
458,372
|
||||
Centene Corp., 4.63%, 12/15/2029
|
463,000
|
436,341
|
||||
CommonSpirit Health
|
||||||
6.07%, 11/01/2027
|
63,000
|
64,491
|
||||
4.35%, 11/01/2042
|
45,000
|
38,274
|
||||
5.55%, 12/01/2054
|
777,000
|
755,306
|
||||
CVS Health Corp.
|
||||||
3.00%, 08/15/2026
|
320,000
|
303,843
|
||||
5.13%, 02/21/2030
|
225,000
|
221,086
|
||||
5.63%, 02/21/2053
|
161,000
|
148,750
|
||||
5.88%, 06/01/2053
|
195,000
|
186,575
|
||||
6.05%, 06/01/2054
|
200,000
|
195,686
|
||||
Dignity Health, 4.50%, 11/01/2042
|
414,000
|
367,528
|
||||
Hartford HealthCare Corp., 3.45%, 07/01/2054
|
465,000
|
332,892
|
||||
HCA, Inc.
|
||||||
5.38%, 09/01/2026
|
55,000
|
54,802
|
||||
4.50%, 02/15/2027
|
255,000
|
248,711
|
||||
5.88%, 02/01/2029
|
215,000
|
217,977
|
||||
Humana, Inc., 5.50%, 03/15/2053
|
102,000
|
94,742
|
||||
Montefiore Obligated Group, 4.29%, 09/01/2050
|
10,000
|
6,357
|
||||
Mount Sinai Hospital, 3.98%, 07/01/2048
|
15,000
|
11,792
|
||||
MultiCare Health System, 2.80%, 08/15/2050
|
82,000
|
48,349
|
||||
Novant Health, Inc., 3.17%, 11/01/2051
|
52,000
|
34,485
|
||||
NYU Langone Hospitals, 4.37%, 07/01/2047
|
17,000
|
14,939
|
||||
Piedmont Healthcare, Inc., 2.04%, 01/01/2032
|
7,000
|
5,618
|
||||
SSM Health Care Corp., 4.89%, 06/01/2028
|
365,000
|
360,963
|
||||
Sutter Health
|
||||||
2.29%, 08/15/2030
|
28,000
|
23,860
|
||||
5.16%, 08/15/2033
|
49,000
|
48,769
|
||||
Tenet Healthcare Corp., 4.63%, 06/15/2028
|
150,000
|
142,728
|
||||
UnitedHealth Group, Inc.
|
||||||
4.60%, 04/15/2027
|
10,000
|
9,888
|
||||
4.25%, 01/15/2029
|
631,000
|
610,281
|
||||
5.38%, 04/15/2054
|
210,000
|
203,222
|
||||
Universal Health Services, Inc., 2.65%, 01/15/2032
|
36,000
|
29,214
|
||||
Willis-Knighton Medical Center, 4.81%, 09/01/2048
|
16,000
|
13,995
|
||||
Zimmer Biomet Holdings, Inc.
|
||||||
1.45%, 11/22/2024
|
5,000
|
4,898
|
||||
3.55%, 03/20/2030
|
248,000
|
223,780
|
||||
6,008,313
|
||||||
Household & Personal Products - 0.1%
|
||||||
Estee Lauder Cos., Inc., 6.00%, 05/15/2037
|
136,000
|
142,953
|
||||
Kenvue, Inc.
|
||||||
5.05%, 03/22/2053
|
177,000
|
166,020
|
||||
5.20%, 03/22/2063
|
41,000
|
38,460
|
||||
347,433
|
||||||
Insurance - 0.8%
|
||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.75%, 04/15/2028 (a)
|
50,000
|
50,168
|
||||
American International Group, Inc., 5.13%, 03/27/2033
|
265,000
|
259,772
|
||||
Aon Corp. / Aon Global Holdings PLC, 5.35%, 02/28/2033
|
211,000
|
207,900
|
||||
Aon North America, Inc.
|
||||||
5.15%, 03/01/2029
|
711,000
|
706,473
|
||||
5.30%, 03/01/2031
|
210,000
|
209,004
|
||||
5.45%, 03/01/2034
|
625,000
|
618,301
|
||||
5.75%, 03/01/2054
|
85,000
|
83,417
|
||||
Arthur J Gallagher & Co.
|
||||||
5.75%, 03/02/2053
|
4,000
|
3,864
|
||||
6.75%, 02/15/2054
|
84,000
|
92,323
|
||||
CNA Financial Corp., 4.50%, 03/01/2026
|
590,000
|
579,752
|
||||
CNO Financial Group, Inc.
|
||||||
5.25%, 05/30/2029
|
436,000
|
421,510
|
||||
6.45%, 06/15/2034
|
204,000
|
204,552
|
||||
Farmers Insurance Exchange, 4.75% to 11/01/2037 then 3 mo. LIBOR US + 3.23%, 11/01/2057 (a)(c)
|
75,000
|
55,280
|
||||
Guardian Life Global Funding, 3.25%, 03/29/2027 (a)
|
66,000
|
62,802
|
||||
HUB International Ltd., 7.25%, 06/15/2030 (a)
|
100,000
|
101,685
|
||||
Marsh & McLennan Cos., Inc.
|
||||||
5.45%, 03/15/2053
|
47,000
|
45,500
|
||||
5.45%, 03/15/2054
|
140,000
|
135,905
|
||||
Metropolitan Life Global Funding I, 5.15%, 03/28/2033 (a)
|
233,000
|
229,297
|
||||
Mutual of Omaha Insurance Co., 6.14% to 01/16/2054 then 10 yr. CMT Rate + 2.95%,
01/16/2064 (a)
|
400,000
|
389,920
|
||||
Primerica, Inc., 2.80%, 11/19/2031
|
503,000
|
415,881
|
||||
Principal Financial Group, Inc., 5.50%, 03/15/2053
|
77,000
|
73,735
|
||||
Prudential Financial, Inc., 5.70% to 09/15/2028 then 3 mo. LIBOR US + 2.67%, 09/15/2048 (c)
|
238,000
|
233,527
|
||||
Travelers Cos., Inc., 5.45%, 05/25/2053
|
140,000
|
140,055
|
||||
W R Berkley Corp., 4.75%, 08/01/2044
|
177,000
|
155,941
|
||||
5,476,564
|
||||||
Materials - 0.2%
|
||||||
Berry Global, Inc.
|
||||||
4.88%, 07/15/2026(a)
|
256,000
|
251,931
|
||||
5.50%, 04/15/2028(a)
|
71,000
|
70,589
|
||||
5.65%, 01/15/2034(a)
|
3,000
|
2,927
|
||||
Celanese US Holdings LLC, 6.70%, 11/15/2033
|
205,000
|
215,423
|
||||
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC, 6.63%, 07/15/2030
(a)
|
100,000
|
100,804
|
||||
International Paper Co., 6.00%, 11/15/2041
|
177,000
|
174,195
|
||||
Mosaic Co., 5.45%, 11/15/2033
|
508,000
|
500,984
|
||||
Packaging Corp. of America, 4.05%, 12/15/2049
|
92,000
|
71,644
|
||||
Sherwin-Williams Co., 4.55%, 08/01/2045
|
6,000
|
5,094
|
||||
Standard Industries, Inc., 4.75%, 01/15/2028 (a)
|
100,000
|
95,048
|
||||
1,488,639
|
||||||
Media & Entertainment - 0.4%
|
||||||
Alphabet, Inc., 2.25%, 08/15/2060
|
60,000
|
33,294
|
||||
CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 05/01/2032
|
130,000
|
103,180
|
||||
Comcast Corp., 3.30%, 02/01/2027
|
100,000
|
95,675
|
||||
Cox Communications, Inc., 3.50%, 08/15/2027 (a)
|
1,029,000
|
973,084
|
||||
Discovery Communications LLC, 4.88%, 04/01/2043
|
5,000
|
4,006
|
||||
Sirius XM Radio, Inc., 4.13%, 07/01/2030 (a)
|
100,000
|
83,851
|
||||
Take-Two Interactive Software, Inc., 4.95%, 03/28/2028
|
214,000
|
211,415
|
||||
TEGNA, Inc., 5.00%, 09/15/2029
|
174,000
|
153,059
|
||||
Walt Disney Co., 3.80%, 05/13/2060
|
121,000
|
89,362
|
||||
Warnermedia Holdings, Inc.
|
||||||
3.76%, 03/15/2027
|
398,000
|
377,178
|
||||
5.14%, 03/15/2052
|
1,015,000
|
799,296
|
||||
Ziff Davis, Inc., 4.63%, 10/15/2030 (a)
|
120,000
|
107,195
|
||||
3,030,595
|
||||||
Pharmaceuticals, Biotechnology & Life Sciences - 0.7%
|
||||||
AbbVie, Inc.
|
||||||
2.95%, 11/21/2026
|
1,145,000
|
1,087,130
|
||||
4.95%, 03/15/2031
|
255,000
|
252,580
|
||||
4.05%, 11/21/2039
|
120,000
|
103,313
|
||||
5.40%, 03/15/2054
|
70,000
|
68,868
|
||||
5.50%, 03/15/2064
|
220,000
|
215,832
|
||||
Amgen, Inc.
|
||||||
5.60%, 03/02/2043
|
60,000
|
59,309
|
||||
5.65%, 03/02/2053
|
22,000
|
21,668
|
||||
5.75%, 03/02/2063
|
771,000
|
757,052
|
||||
Bristol-Myers Squibb Co., 5.65%, 02/22/2064
|
225,000
|
219,351
|
||||
Eli Lilly & Co.
|
||||||
5.00%, 02/27/2026
|
228,000
|
227,974
|
||||
4.95%, 02/27/2063
|
147,000
|
135,391
|
||||
Johnson & Johnson, 3.40%, 01/15/2038
|
246,000
|
204,734
|
||||
Mars, Inc.
|
||||||
2.70%, 04/01/2025(a)
|
348,000
|
340,541
|
||||
4.55%, 04/20/2028(a)
|
147,000
|
144,113
|
||||
Regeneron Pharmaceuticals, Inc., 2.80%, 09/15/2050
|
76,000
|
46,360
|
||||
Utah Acquisition Sub, Inc., 3.95%, 06/15/2026
|
495,000
|
477,417
|
||||
Viatris, Inc., 2.70%, 06/22/2030
|
166,000
|
139,522
|
||||
4,501,155
|
||||||
Real Estate Management & Development - 0.5%
|
||||||
Brixmor Operating Partnership LP, 5.50%, 02/15/2034
|
2,000
|
1,950
|
||||
COPT Defense Properties LP
|
||||||
2.75%, 04/15/2031
|
546,000
|
448,870
|
||||
2.90%, 12/01/2033
|
446,000
|
347,844
|
||||
Equinix Europe 2 Financing Corp. LLC, 5.50%, 06/15/2034
|
175,000
|
172,743
|
||||
Holcim Finance US LLC, 3.50%, 09/22/2026 (a)
|
345,000
|
330,510
|
||||
Kilroy Realty LP
|
||||||
3.45%, 12/15/2024
|
117,000
|
115,544
|
||||
2.50%, 11/15/2032
|
261,000
|
194,461
|
||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer, 5.88%,
10/01/2028 (a)
|
80,000
|
78,453
|
||||
Prologis LP
|
||||||
1.63%, 03/15/2031
|
28,000
|
22,221
|
||||
4.75%, 06/15/2033
|
583,000
|
558,800
|
||||
Regency Centers LP, 4.65%, 03/15/2049
|
219,000
|
183,574
|
||||
RHP Hotel Properties LP / RHP Finance Corp., 4.75%, 10/15/2027
|
30,000
|
28,791
|
||||
Shea Homes LP / Shea Homes Funding Corp., 4.75%, 02/15/2028
|
40,000
|
37,842
|
||||
Simon Property Group LP
|
||||||
6.25%, 01/15/2034
|
240,000
|
252,378
|
||||
6.75%, 02/01/2040
|
227,000
|
247,078
|
||||
5.85%, 03/08/2053
|
84,000
|
83,357
|
||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 10.50%, 02/15/2028 (a)
|
40,000
|
40,037
|
||||
Ventas Realty LP, 3.00%, 01/15/2030
|
195,000
|
170,505
|
||||
VICI Properties LP / VICI Note Co., Inc., 5.75%, 02/01/2027 (a)
|
183,000
|
182,779
|
||||
3,497,737
|
||||||
Semiconductors & Semiconductor Equipment - 0.2%
|
||||||
Analog Devices, Inc., 5.30%, 04/01/2054
|
185,000
|
179,684
|
||||
Broadcom, Inc., 3.15%, 11/15/2025
|
70,000
|
67,684
|
||||
Intel Corp.
|
||||||
5.15%, 02/21/2034
|
440,000
|
430,599
|
||||
5.60%, 02/21/2054
|
150,000
|
144,362
|
||||
5.90%, 02/10/2063
|
75,000
|
74,396
|
||||
Micron Technology, Inc.
|
||||||
5.38%, 04/15/2028
|
139,000
|
139,399
|
||||
5.88%, 09/15/2033
|
38,000
|
38,878
|
||||
1,075,002
|
||||||
Software & Services - 0.4%
|
||||||
Adobe, Inc.
|
||||||
4.80%, 04/04/2029
|
330,000
|
329,134
|
||||
4.95%, 04/04/2034
|
725,000
|
716,000
|
||||
ASGN, Inc., 4.63%, 05/15/2028 (a)
|
40,000
|
37,538
|
||||
International Business Machines Corp., 4.90%, 07/27/2052
|
808,000
|
718,547
|
||||
Kyndryl Holdings, Inc., 3.15%, 10/15/2031
|
292,000
|
244,969
|
||||
Oracle Corp.
|
||||||
2.30%, 03/25/2028
|
210,000
|
188,799
|
||||
3.60%, 04/01/2050
|
125,000
|
86,782
|
||||
UKG, Inc., 6.88%, 02/01/2031 (a)
|
50,000
|
50,386
|
||||
VMware, Inc., 3.90%, 08/21/2027
|
639,000
|
610,261
|
||||
2,982,416
|
||||||
Technology Hardware & Equipment - 0.5%
|
||||||
Avnet, Inc., 6.25%, 03/15/2028
|
305,000
|
312,100
|
||||
CDW LLC / CDW Finance Corp., 2.67%, 12/01/2026
|
145,000
|
134,899
|
||||
Cisco Systems, Inc.
|
||||||
4.85%, 02/26/2029
|
490,000
|
488,094
|
||||
4.95%, 02/26/2031
|
405,000
|
402,168
|
||||
5.05%, 02/26/2034
|
420,000
|
416,734
|
||||
5.30%, 02/26/2054
|
140,000
|
137,033
|
||||
Hewlett Packard Enterprise Co., 4.90%, 10/15/2025
|
451,000
|
447,453
|
||||
Jabil, Inc., 5.45%, 02/01/2029
|
107,000
|
106,488
|
||||
LPL Holdings, Inc.
|
||||||
5.70%, 05/20/2027
|
256,000
|
256,711
|
||||
4.00%, 03/15/2029(a)
|
5,000
|
4,637
|
||||
Vontier Corp., 2.40%, 04/01/2028
|
374,000
|
328,446
|
||||
3,034,763
|
||||||
Telecommunication Services - 0.5%
|
||||||
AT&T, Inc.
|
||||||
1.65%, 02/01/2028
|
349,000
|
308,174
|
||||
3.50%, 09/15/2053
|
260,000
|
175,314
|
||||
3.55%, 09/15/2055
|
702,000
|
470,520
|
||||
Frontier Communications Holdings LLC, 5.88%, 10/15/2027 (a)
|
100,000
|
97,484
|
||||
T-Mobile USA, Inc.
|
||||||
3.75%, 04/15/2027
|
398,000
|
381,436
|
||||
4.75%, 02/01/2028
|
315,000
|
309,223
|
||||
3.38%, 04/15/2029
|
797,000
|
730,092
|
||||
2.55%, 02/15/2031
|
375,000
|
315,860
|
||||
2.88%, 02/15/2031
|
413,000
|
355,116
|
||||
4.38%, 04/15/2040
|
85,000
|
73,766
|
||||
3.30%, 02/15/2051
|
140,000
|
94,037
|
||||
Verizon Communications, Inc.
|
||||||
5.05%, 05/09/2033
|
265,000
|
260,399
|
||||
4.67%, 03/15/2055
|
44,000
|
38,086
|
||||
3,609,507
|
||||||
Transportation - 0.2%
|
||||||
Delta Air Lines, Inc., 7.00%, 05/01/2025 (a)
|
151,000
|
152,435
|
||||
Southwest Airlines Co., 5.25%, 05/04/2025
|
400,000
|
398,416
|
||||
TransDigm, Inc., 6.75%, 08/15/2028 (a)
|
150,000
|
151,934
|
||||
TTX Co., 4.60%, 02/01/2049 (a)
|
358,000
|
312,940
|
||||
Union Pacific Corp., 5.15%, 01/20/2063
|
40,000
|
36,869
|
||||
United Airlines 2020-1 Class A Pass Through Trust, Series 2020-1, 5.88%, 10/15/2027
|
162,533
|
162,709
|
||||
United Airlines Class B Pass Through Trust, Series 2020-1, 4.88%, 01/15/2026
|
327,600
|
321,983
|
||||
XPO, Inc., 7.13%, 02/01/2032 (a)
|
25,000
|
25,489
|
||||
1,562,775
|
||||||
Utilities - 0.9%
|
||||||
American Electric Power Co., Inc., 5.63%, 03/01/2033
|
4,000
|
3,971
|
||||
Antero Midstream Partners LP / Antero Midstream Finance Corp., 5.38%, 06/15/2029 (a)
|
40,000
|
38,306
|
||||
Calpine Corp., 5.00%, 02/01/2031 (a)
|
150,000
|
138,650
|
||||
Cameron LNG LLC, 3.30%, 01/15/2035 (a)
|
151,000
|
123,722
|
||||
CenterPoint Energy Houston Electric LLC, 4.95%, 04/01/2033
|
249,000
|
241,882
|
||||
DTE Energy Co., 1.05%, 06/01/2025
|
280,000
|
267,902
|
||||
Duke Energy Corp.
|
||||||
4.85%, 01/05/2027
|
465,000
|
460,441
|
||||
5.75%, 09/15/2033
|
452,000
|
456,621
|
||||
4.20%, 06/15/2049
|
211,000
|
163,459
|
||||
Edison International
|
||||||
5.75%, 06/15/2027
|
332,000
|
333,772
|
||||
6.95%, 11/15/2029
|
15,000
|
15,941
|
||||
El Paso Natural Gas Co. LLC, 3.50%, 02/15/2032 (a)
|
174,000
|
147,251
|
||||
Evergy Kansas Central, Inc., 5.70%, 03/15/2053
|
62,000
|
60,606
|
||||
Evergy, Inc., 2.45%, 09/15/2024
|
135,000
|
133,728
|
||||
Eversource Energy, 5.50%, 01/01/2034
|
220,000
|
215,106
|
||||
Exelon Corp., 5.60%, 03/15/2053
|
139,000
|
134,236
|
||||
Florida Gas Transmission Co. LLC, 2.55%, 07/01/2030 (a)
|
7,000
|
6,015
|
||||
Interstate Power and Light Co.
|
||||||
2.30%, 06/01/2030
|
190,000
|
160,456
|
||||
5.70%, 10/15/2033
|
140,000
|
141,190
|
||||
National Fuel Gas Co., 5.50%, 10/01/2026
|
77,000
|
76,696
|
||||
Pacific Gas and Electric Co.
|
||||||
6.40%, 06/15/2033
|
210,000
|
217,718
|
||||
6.95%, 03/15/2034
|
290,000
|
312,287
|
||||
4.95%, 07/01/2050
|
220,000
|
182,980
|
||||
Southern Co.
|
||||||
3.25%, 07/01/2026
|
590,000
|
566,303
|
||||
5.20%, 06/15/2033
|
731,000
|
716,003
|
||||
5.70%, 03/15/2034
|
444,000
|
450,196
|
||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.00%, 03/01/2027 (a)
|
100,000
|
97,973
|
||||
Texas Eastern Transmission LP, 3.50%, 01/15/2028 (a)
|
297,000
|
278,674
|
||||
Union Electric Co., 5.45%, 03/15/2053
|
60,000
|
57,662
|
||||
Virginia Electric and Power Co., 5.45%, 04/01/2053
|
164,000
|
156,795
|
||||
6,356,542
|
||||||
TOTAL CORPORATE BONDS (Cost
$112,726,852)
|
111,953,664
|
|||||
AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES - 8.7%
|
Par
|
Value
|
||||
Federal Home Loan Mortgage Corp.
|
||||||
5.55%, 02/09/2027
|
1,116,000
|
1,115,426
|
||||
0.90%, 10/13/2027
|
38,000
|
33,325
|
||||
5.63%, 02/07/2028
|
397,000
|
396,301
|
||||
0.00%, 12/14/2029(d)
|
301,000
|
232,408
|
||||
Pool MA4600, 3.50%, 05/01/2052
|
2,663,140
|
2,334,738
|
||||
Pool QB8934, 2.50%, 02/01/2051
|
26,218
|
21,165
|
||||
Pool QC6759, 2.00%, 09/01/2051
|
29,565
|
22,803
|
||||
Pool QF7085, 5.50%, 02/01/2053
|
68,580
|
67,549
|
||||
Pool RA3661, 2.50%, 10/01/2050
|
115,505
|
94,238
|
||||
Pool RA6605, 3.00%, 01/01/2052
|
25,351
|
21,317
|
||||
Pool RA6815, 2.50%, 02/01/2052
|
251,052
|
204,732
|
||||
Pool RA7326, 3.50%, 05/01/2052
|
31,835
|
27,893
|
||||
Pool RA7587, 3.50%, 06/01/2052
|
196,594
|
173,522
|
||||
Pool RA9475, 5.00%, 07/01/2053
|
192,139
|
184,814
|
||||
Pool SD0781, 3.00%, 11/01/2051
|
76,102
|
64,278
|
||||
Pool SD1117, 4.50%, 06/01/2052
|
20,445
|
19,181
|
||||
Pool SD1377, 3.50%, 07/01/2052
|
417,111
|
367,514
|
||||
Pool SD1505, 4.50%, 08/01/2052
|
87,864
|
82,336
|
||||
Pool SD1549, 3.50%, 04/01/2052
|
65,782
|
58,032
|
||||
Pool SD2253, 3.50%, 12/01/2052
|
163,213
|
143,060
|
||||
Pool SD2862, 6.00%, 05/01/2053
|
22,717
|
22,797
|
||||
Pool SD3218, 5.00%, 05/01/2053
|
24,009
|
23,091
|
||||
Pool SD3611, 3.00%, 03/01/2052
|
23,555
|
19,884
|
||||
Pool SD3770, 2.50%, 03/01/2052
|
259,270
|
209,830
|
||||
Pool SD3977, 5.00%, 04/01/2053
|
787,043
|
757,537
|
||||
Pool SD3983, 5.50%, 09/01/2053
|
24,024
|
23,681
|
||||
Pool SD4428, 2.50%, 05/01/2052
|
24,104
|
19,570
|
||||
Pool SD4553, 3.00%, 09/01/2053
|
660,409
|
555,169
|
||||
Pool SD4712, 4.50%, 12/01/2052
|
43,418
|
40,628
|
||||
Pool SD4835, 2.50%, 02/01/2051
|
516,849
|
419,822
|
||||
Pool SD4997, 5.00%, 10/01/2053
|
1,724,103
|
1,658,684
|
||||
Pool SD5314, 3.00%, 01/01/2053
|
124,724
|
104,937
|
||||
Pool SD8114, 2.50%, 12/01/2050
|
1,011,459
|
821,825
|
||||
Pool SD8135, 2.50%, 03/01/2051
|
28,360
|
23,061
|
||||
Pool SD8150, 2.00%, 06/01/2051
|
611,963
|
473,526
|
||||
Pool SD8157, 3.00%, 07/01/2051
|
195,202
|
164,877
|
||||
Pool SD8166, 2.00%, 09/01/2051
|
643,166
|
497,696
|
||||
Pool SD8167, 2.50%, 09/01/2051
|
88,812
|
71,940
|
||||
Pool SD8188, 2.00%, 01/01/2052
|
391,756
|
302,706
|
||||
Pool SD8193, 2.00%, 02/01/2052
|
88,552
|
68,324
|
||||
Pool SD8199, 2.00%, 03/01/2052
|
245,094
|
189,184
|
||||
Pool SD8205, 2.50%, 04/01/2052
|
195,741
|
158,236
|
||||
Pool SD8214, 3.50%, 05/01/2052
|
1,917,592
|
1,680,982
|
||||
Pool SD8215, 4.00%, 05/01/2052
|
224,118
|
203,670
|
||||
Pool SD8221, 3.50%, 06/01/2052
|
470,986
|
412,870
|
||||
Pool SD8222, 4.00%, 06/01/2052
|
87,037
|
79,018
|
||||
Pool SD8225, 3.00%, 07/01/2052
|
220,376
|
185,310
|
||||
Pool SD8227, 4.00%, 07/01/2052
|
1,010,878
|
917,760
|
||||
Pool SD8234, 2.50%, 08/01/2052
|
1,888,926
|
1,525,967
|
||||
Pool SD8242, 3.00%, 09/01/2052
|
73,615
|
61,901
|
||||
Pool SD8243, 3.50%, 09/01/2052
|
377,987
|
331,168
|
||||
Pool SD8244, 4.00%, 09/01/2052
|
206,828
|
187,653
|
||||
Pool SD8257, 4.50%, 10/01/2052
|
31,637
|
29,605
|
||||
Pool SD8258, 5.00%, 10/01/2052
|
187,076
|
180,103
|
||||
Pool SD8264, 3.50%, 11/01/2052
|
60,322
|
52,872
|
||||
Pool SD8265, 4.00%, 11/01/2052
|
417,594
|
379,020
|
||||
Pool SD8266, 4.50%, 11/01/2052
|
96,296
|
90,109
|
||||
Pool SD8288, 5.00%, 01/01/2053
|
22,946
|
22,088
|
||||
Pool SD8315, 5.00%, 04/01/2053
|
186,889
|
179,844
|
||||
Pool SD8316, 5.50%, 04/01/2053
|
354,384
|
348,609
|
||||
Pool SD8324, 5.50%, 05/01/2053
|
691,477
|
680,013
|
||||
Pool SD8325, 6.00%, 05/01/2053
|
121,375
|
121,512
|
||||
Pool SD8331, 5.50%, 06/01/2053
|
967,299
|
950,897
|
||||
Pool SD8363, 6.00%, 09/01/2053
|
326,693
|
326,972
|
||||
Pool SD8368, 6.00%, 10/01/2053
|
127,149
|
127,251
|
||||
Pool SD8373, 6.00%, 11/01/2053
|
28,450
|
28,473
|
||||
Pool SD8382, 5.00%, 12/01/2053
|
341,691
|
328,570
|
||||
Pool SD8397, 6.50%, 01/01/2054
|
42,250
|
42,935
|
||||
Pool SD8401, 5.50%, 02/01/2054
|
24,498
|
24,081
|
||||
Pool SD8402, 6.00%, 02/01/2054
|
101,636
|
101,691
|
||||
Federal National Mortgage Association
|
||||||
7.25%, 05/15/2030
|
145,000
|
164,666
|
||||
Pool BP3478, 2.00%, 06/01/2051
|
24,775
|
19,229
|
||||
Pool BT6823, 2.50%, 10/01/2051
|
177,161
|
143,470
|
||||
Pool BT9030, 2.00%, 08/01/2051
|
26,128
|
20,223
|
||||
Pool BU7102, 2.50%, 12/01/2051
|
98,489
|
79,682
|
||||
Pool BW0015, 4.00%, 07/01/2052
|
26,873
|
24,422
|
||||
Pool BX5065, 5.50%, 01/01/2053
|
22,789
|
22,438
|
||||
Pool CA6435, 3.50%, 07/01/2050
|
1,353,628
|
1,188,205
|
||||
Pool CA7248, 2.50%, 10/01/2050
|
31,798
|
25,759
|
||||
Pool CA8026, 2.50%, 12/01/2050
|
1,342,094
|
1,085,069
|
||||
Pool CB1066, 2.50%, 07/01/2051
|
287,808
|
233,074
|
||||
Pool CB1149, 3.00%, 07/01/2051
|
269,947
|
227,601
|
||||
Pool CB3600, 3.50%, 05/01/2052
|
168,216
|
148,490
|
||||
Pool CB3771, 3.50%, 06/01/2052
|
455,034
|
398,935
|
||||
Pool CB4020, 4.00%, 07/01/2052
|
37,938
|
34,467
|
||||
Pool CB4121, 4.00%, 07/01/2052
|
235,294
|
213,860
|
||||
Pool CB4852, 4.50%, 10/01/2052
|
268,133
|
250,911
|
||||
Pool CB5906, 5.50%, 03/01/2053
|
23,300
|
22,961
|
||||
Pool CB6031, 5.00%, 04/01/2053
|
51,452
|
49,625
|
||||
Pool CB6201, 6.00%, 05/01/2053
|
45,730
|
45,830
|
||||
Pool CB6308, 4.50%, 05/01/2053
|
894,233
|
837,058
|
||||
Pool CB6475, 5.00%, 06/01/2053
|
827,670
|
796,503
|
||||
Pool CB6619, 5.50%, 06/01/2053
|
64,131
|
63,043
|
||||
Pool FM9067, 2.50%, 10/01/2051
|
495,752
|
400,486
|
||||
Pool FM9540, 2.00%, 11/01/2051
|
245,886
|
191,544
|
||||
Pool FS0176, 2.50%, 01/01/2052
|
402,936
|
325,993
|
||||
Pool FS0288, 2.00%, 01/01/2052
|
82,293
|
64,044
|
||||
Pool FS0631, 3.00%, 02/01/2052
|
31,975
|
26,954
|
||||
Pool FS1790, 4.00%, 05/01/2052
|
21,425
|
19,439
|
||||
Pool FS2040, 2.00%, 02/01/2052
|
89,400
|
69,106
|
||||
Pool FS2321, 2.50%, 02/01/2052
|
486,719
|
394,462
|
||||
Pool FS2512, 3.50%, 07/01/2052
|
319,402
|
281,408
|
||||
Pool FS2805, 2.50%, 09/01/2052
|
339,177
|
274,347
|
||||
Pool FS3251, 6.00%, 11/01/2052
|
62,934
|
63,027
|
||||
Pool FS3497, 3.50%, 08/01/2052
|
209,173
|
183,380
|
||||
Pool FS3569, 3.00%, 02/01/2052
|
185,709
|
156,261
|
||||
Pool FS4035, 5.00%, 03/01/2053
|
714,790
|
688,055
|
||||
Pool FS4110, 2.50%, 03/01/2052
|
54,257
|
43,950
|
||||
Pool FS4114, 4.50%, 03/01/2053
|
23,129
|
21,643
|
||||
Pool FS4377, 3.00%, 04/01/2052
|
1,555,772
|
1,308,328
|
||||
Pool FS4874, 5.50%, 06/01/2053
|
23,431
|
23,075
|
||||
Pool FS4919, 2.50%, 05/01/2053
|
523,759
|
423,552
|
||||
Pool FS5235, 5.50%, 07/01/2053
|
207,374
|
203,905
|
||||
Pool FS5673, 4.00%, 02/01/2053
|
360,724
|
327,416
|
||||
Pool FS5846, 2.50%, 09/01/2052
|
81,611
|
66,062
|
||||
Pool FS6288, 5.50%, 10/01/2053
|
24,338
|
23,988
|
||||
Pool FS6471, 3.00%, 05/01/2052
|
97,119
|
81,696
|
||||
Pool FS6633, 3.00%, 06/01/2052
|
448,782
|
377,617
|
||||
Pool FS6838, 5.50%, 11/01/2053
|
63,646
|
62,568
|
||||
Pool FS6866, 5.00%, 10/01/2053
|
300,550
|
289,155
|
||||
Pool FS7252, 5.00%, 11/01/2053
|
172,427
|
165,833
|
||||
Pool MA4078, 2.50%, 07/01/2050
|
242,006
|
197,161
|
||||
Pool MA4211, 3.00%, 12/01/2050
|
25,354
|
21,560
|
||||
Pool MA4305, 2.00%, 04/01/2051
|
197,065
|
152,814
|
||||
Pool MA4398, 2.00%, 08/01/2051
|
70,946
|
54,951
|
||||
Pool MA4413, 2.00%, 09/01/2051
|
50,658
|
39,247
|
||||
Pool MA4493, 2.50%, 12/01/2051
|
24,436
|
19,774
|
||||
Pool MA4512, 2.50%, 01/01/2052
|
85,594
|
69,068
|
||||
Pool MA4548, 2.50%, 02/01/2052
|
133,502
|
107,985
|
||||
Pool MA4562, 2.00%, 03/01/2052
|
178,826
|
138,259
|
||||
Pool MA4563, 2.50%, 03/01/2052
|
110,924
|
89,614
|
||||
Pool MA4565, 3.50%, 03/01/2052
|
37,023
|
32,555
|
||||
Pool MA4578, 2.50%, 04/01/2052
|
320,841
|
259,397
|
||||
Pool MA4579, 3.00%, 04/01/2052
|
239,503
|
201,300
|
||||
Pool MA4597, 2.00%, 05/01/2052
|
425,965
|
328,744
|
||||
Pool MA4598, 2.50%, 05/01/2052
|
85,868
|
69,423
|
||||
Pool MA4599, 3.00%, 05/01/2052
|
40,443
|
34,017
|
||||
Pool MA4625, 3.50%, 06/01/2052
|
80,806
|
70,842
|
||||
Pool MA4653, 3.00%, 07/01/2052
|
193,294
|
162,567
|
||||
Pool MA4655, 4.00%, 07/01/2052
|
857,259
|
777,653
|
||||
Pool MA4684, 4.50%, 06/01/2052
|
73,819
|
69,078
|
||||
Pool MA4698, 3.00%, 08/01/2052
|
230,813
|
194,105
|
||||
Pool MA4700, 4.00%, 08/01/2052
|
457,398
|
415,660
|
||||
Pool MA4732, 4.00%, 09/01/2052
|
286,873
|
260,553
|
||||
Pool MA4733, 4.50%, 09/01/2052
|
44,936
|
42,050
|
||||
Pool MA4761, 5.00%, 09/01/2052
|
341,108
|
328,491
|
||||
Pool MA4783, 4.00%, 10/01/2052
|
124,662
|
113,187
|
||||
Pool MA4784, 4.50%, 10/01/2052
|
234,338
|
219,286
|
||||
Pool MA4786, 5.50%, 10/01/2052
|
29,512
|
29,073
|
||||
Pool MA4805, 4.50%, 11/01/2052
|
142,003
|
132,882
|
||||
Pool MA4868, 5.00%, 01/01/2053
|
27,708
|
26,676
|
||||
Pool MA4917, 4.50%, 02/01/2053
|
32,875
|
30,763
|
||||
Pool MA4918, 5.00%, 02/01/2053
|
316,915
|
305,046
|
||||
Pool MA4940, 5.00%, 03/01/2053
|
27,596
|
26,561
|
||||
Pool MA4978, 5.00%, 04/01/2053
|
416,513
|
400,849
|
||||
Pool MA5009, 5.00%, 05/01/2053
|
580,279
|
558,087
|
||||
Pool MA5010, 5.50%, 05/01/2053
|
31,302
|
30,777
|
||||
Pool MA5038, 5.00%, 06/01/2053
|
2,081,610
|
2,003,004
|
||||
Pool MA5071, 5.00%, 07/01/2053
|
346,170
|
332,931
|
||||
Pool MA5073, 6.00%, 07/01/2053
|
251,544
|
251,836
|
||||
Pool MA5089, 4.00%, 07/01/2053
|
167,044
|
151,558
|
||||
Pool MA5106, 5.00%, 08/01/2053
|
452,903
|
435,672
|
||||
Pool MA5107, 5.50%, 08/01/2053
|
327,802
|
322,303
|
||||
Pool MA5108, 6.00%, 08/01/2053
|
73,736
|
73,821
|
||||
Pool MA5138, 5.50%, 09/01/2053
|
829,986
|
815,911
|
||||
Pool MA5139, 6.00%, 09/01/2053
|
1,191,845
|
1,192,805
|
||||
Pool MA5165, 5.50%, 10/01/2053
|
23,871
|
23,466
|
||||
Pool MA5166, 6.00%, 10/01/2053
|
1,351,865
|
1,352,808
|
||||
Pool MA5192, 6.50%, 11/01/2053
|
220,603
|
224,212
|
||||
Pool MA5215, 5.50%, 12/01/2053
|
703,430
|
691,504
|
||||
Pool MA5216, 6.00%, 12/01/2053
|
476,313
|
476,645
|
||||
Pool MA5217, 6.50%, 12/01/2053
|
277,914
|
282,416
|
||||
Pool MA5245, 5.00%, 01/01/2054
|
2,733,366
|
2,628,404
|
||||
Pool MA5247, 6.00%, 01/01/2054
|
24,106
|
24,120
|
||||
Pool MA5294, 5.00%, 03/01/2054
|
1,126,588
|
1,083,327
|
||||
Pool MA5297, 6.50%, 03/01/2054
|
28,765
|
29,231
|
||||
Pool MA5331, 5.50%, 04/01/2054
|
788,195
|
774,705
|
||||
Ginnie Mae II Pool
|
||||||
Pool MA7935, 2.00%, 03/20/2052
|
299,618
|
240,153
|
||||
Pool MA7936, 2.50%, 03/20/2052
|
828,727
|
690,409
|
||||
Pool MA8099, 3.50%, 06/20/2052
|
70,611
|
62,990
|
||||
Pool MA8149, 3.50%, 07/20/2052
|
36,676
|
32,718
|
||||
Pool MA8151, 4.50%, 07/20/2052
|
156,446
|
148,009
|
||||
Pool MA8201, 4.50%, 08/20/2052
|
26,987
|
25,532
|
||||
Pool MA8492, 6.00%, 12/20/2052
|
20,204
|
20,353
|
||||
Pool MA8566, 3.50%, 01/20/2053
|
203,967
|
181,954
|
||||
Pool MA8800, 5.00%, 04/20/2053
|
564,347
|
547,559
|
||||
Pool MA8801, 5.50%, 04/20/2053
|
597,015
|
592,370
|
||||
Pool MA8877, 4.50%, 05/20/2053
|
480,552
|
454,126
|
||||
Pool MA8947, 5.00%, 06/20/2053
|
217,445
|
210,978
|
||||
Pool MA8948, 5.50%, 06/20/2053
|
227,566
|
225,787
|
||||
Pool MA9016, 5.00%, 07/20/2053
|
48,581
|
47,130
|
||||
Pool MA9018, 6.00%, 07/20/2053
|
68,446
|
68,949
|
||||
Pool MA9107, 6.00%, 08/20/2053
|
56,221
|
56,626
|
||||
Pool MA9172, 6.00%, 09/20/2053
|
121,234
|
122,106
|
||||
Pool MA9240, 5.00%, 10/20/2053
|
54,267
|
52,623
|
||||
Pool MA9242, 6.00%, 10/20/2053
|
617,641
|
622,085
|
||||
Pool MA9304, 5.00%, 11/20/2053
|
24,671
|
23,924
|
||||
Pool MA9424, 6.00%, 01/20/2054
|
113,916
|
114,736
|
||||
Pool MA9488, 5.50%, 02/20/2054
|
24,819
|
24,621
|
||||
Government National Mortgage Association
|
||||||
Pool MA7826, 2.00%, 01/20/2052
|
67,875
|
54,413
|
||||
Pool MA7827, 2.50%, 01/20/2052
|
184,595
|
153,790
|
||||
Series 2021-156, Class LI, 4.00%, 09/20/2051(e)
|
662,945
|
127,723
|
||||
HUD Office of the Secretary
|
||||||
Series 2020-107, Class AB, 1.00%, 07/20/2050
|
52,336
|
39,026
|
||||
Series 2020-112, Class KA, 1.00%, 08/20/2050
|
48,167
|
35,786
|
||||
Series 2021-103, Class HE, 2.00%, 06/20/2051
|
35,938
|
28,925
|
||||
United States Department of the Treasury, 5.40%, 12/21/2026
|
275,000
|
274,566
|
||||
United States of America, 5.20%, 02/17/2026
|
705,000
|
703,757
|
||||
TOTAL AGENCY COMMERCIAL MORTGAGE
BACKED SECURITIES (Cost $60,564,514)
|
59,709,854
|
|||||
FOREIGN CORPORATE BONDS - 4.5%
|
Par
|
Value
|
||||
Automobiles & Components - 0.0%(f)
|
||||||
Toyota Motor Corp., 2.36%, 03/25/2031
|
108,000
|
92,320
|
||||
Banks - 1.9%
|
||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 2.45%, 10/29/2026
|
568,000
|
528,292
|
||||
ASB Bank Ltd.
|
||||||
5.35%, 06/15/2026(a)
|
323,000
|
322,836
|
||||
5.28% to 06/17/2027 then 5 yr. CMT Rate + 2.25%, 06/17/2032 (a)
|
159,000
|
156,363
|
||||
Australia & New Zealand Banking Group Ltd./New York NY, 4.75%, 01/18/2027
|
361,000
|
358,501
|
||||
Banco Bilbao Vizcaya Argentaria SA, 6.14% to 09/14/2027 then 1 yr. CMT Rate + 2.70%,
09/14/2028
|
167,000
|
170,070
|
||||
Banco Inbursa SA Institucion De Banca Multiple Grupo Financiero Inbursa, 4.38%, 04/11/2027
(a)
|
349,000
|
336,664
|
||||
Banco Santander SA, 6.92%, 08/08/2033
|
600,000
|
630,565
|
||||
Bancolombia SA, 3.00%, 01/29/2025
|
203,000
|
199,147
|
||||
Bank of Ireland Group PLC, 6.25% to 09/16/2025 then 1 yr. CMT Rate + 2.65%, 09/16/2026 (a)
|
452,000
|
454,254
|
||||
Bank of Nova Scotia
|
||||||
1.45%, 01/10/2025
|
788,000
|
768,461
|
||||
4.50%, 12/16/2025
|
472,000
|
463,329
|
||||
Barclays PLC, 6.50% to 09/13/2026 then SOFR + 1.88%, 09/13/2027
|
200,000
|
203,261
|
||||
BNP Paribas SA
|
||||||
1.90% to 09/30/2027 then SOFR + 1.61%, 09/30/2028 (a)
|
349,000
|
310,801
|
||||
5.50% to 05/20/2029 then SOFR + 1.59%, 05/20/2030 (a)
|
352,000
|
350,191
|
||||
5.89% to 12/05/2033 then SOFR + 1.87%, 12/05/2034 (a)
|
207,000
|
212,717
|
||||
Commonwealth Bank of Australia, 5.84%, 03/13/2034 (a)
|
892,000
|
890,109
|
||||
Credit Agricole SA
|
||||||
5.59%, 07/05/2026(a)
|
558,000
|
560,440
|
||||
5.13%, 03/11/2027(a)
|
254,000
|
253,379
|
||||
Deutsche Bank AG/New York NY, 4.16%, 05/13/2025
|
151,000
|
149,123
|
||||
HSBC Holdings PLC, 6.33% to 03/09/2043 then SOFR + 2.65%, 03/09/2044
|
1,393,000
|
1,468,369
|
||||
KBC Group NV, 5.80% to 01/19/2028 then 1 yr. CMT Rate + 2.10%, 01/19/2029 (a)
|
245,000
|
246,155
|
||||
Lloyds Banking Group PLC, 5.68% to 01/05/2034 then 1 yr. CMT Rate + 1.75%, 01/05/2035
|
305,000
|
303,565
|
||||
Mitsubishi UFJ Financial Group, Inc.
|
||||||
5.72% to 02/20/2025 then 1 yr. CMT Rate + 1.08%, 02/20/2026
|
200,000
|
199,849
|
||||
5.48% to 02/22/2030 then 1 yr. CMT Rate + 1.53%, 02/22/2031
|
238,000
|
238,930
|
||||
NatWest Group PLC, 3.07% to 05/22/2027 then 1 yr. CMT Rate + 2.55%, 05/22/2028
|
200,000
|
186,641
|
||||
Societe Generale SA, 1.49% to 12/14/2025 then 1 yr. CMT Rate + 1.10%, 12/14/2026 (a)
|
805,000
|
752,314
|
||||
Standard Chartered PLC, 6.19% to 07/06/2026 then 1 yr. CMT Rate + 1.85%, 07/06/2027 (a)
|
200,000
|
201,695
|
||||
Sumitomo Mitsui Financial Group, Inc.
|
||||||
5.52%, 01/13/2028
|
200,000
|
201,956
|
||||
5.80%, 07/13/2028
|
540,000
|
550,459
|
||||
5.71%, 01/13/2030
|
253,000
|
257,070
|
||||
1.71%, 01/12/2031
|
280,000
|
223,241
|
||||
5.77%, 01/13/2033
|
351,000
|
360,067
|
||||
UBS AG/New York NY, 2.95%, 04/09/2025
|
578,000
|
564,965
|
||||
Westpac Banking Corp., 5.51%, 11/17/2025
|
235,000
|
235,896
|
||||
13,309,675
|
||||||
Capital Goods - 0.1%
|
||||||
BAE Systems PLC, 5.30%, 03/26/2034 (a)
|
200,000
|
196,738
|
||||
Triton Container International Ltd., 3.15%, 06/15/2031 (a)
|
216,000
|
178,370
|
||||
Vinci SA, 3.75%, 04/10/2029 (a)
|
200,000
|
188,729
|
||||
Weir Group PLC, 2.20%, 05/13/2026 (a)
|
281,000
|
262,932
|
||||
826,769
|
||||||
Commercial & Professional Services - 0.2%
|
||||||
E.ON International Finance BV, 6.65%, 04/30/2038 (a)
|
161,000
|
171,437
|
||||
Enel Finance International NV, 1.38%, 07/12/2026 (a)
|
577,000
|
531,928
|
||||
Federation des Caisses Desjardins du Quebec, 4.55%, 08/23/2027 (a)
|
4,000
|
3,908
|
||||
IBM International Capital Pte Ltd., 5.30%, 02/05/2054
|
100,000
|
93,120
|
||||
International Bank for Reconstruction & Development, 3.88%, 02/14/2030
|
35,000
|
33,686
|
||||
NTT Finance Corp., 4.24%, 07/25/2025 (a)
|
599,000
|
590,736
|
||||
Viterra Finance BV, 2.00%, 04/21/2026 (a)
|
201,000
|
187,227
|
||||
1,612,042
|
||||||
Consumer Services - 0.0%(f)
|
||||||
Carnival Corp., 7.63%, 03/01/2026 (a)
|
150,000
|
150,901
|
||||
Consumer Staples Distribution & Retail - 0.0%(f)
|
||||||
Alimentation Couche-Tard, Inc., 3.55%, 07/26/2027 (a)
|
202,000
|
191,548
|
||||
Energy - 0.3%
|
||||||
Aker BP ASA, 6.00%, 06/13/2033 (a)
|
192,000
|
193,470
|
||||
BHP Billiton Finance USA Ltd., 4.90%, 02/28/2033
|
328,000
|
319,794
|
||||
BP Capital Markets PLC, 4.38% to 09/22/2025 then 5 yr. CMT Rate + 4.04%, Perpetual
|
19,000
|
18,626
|
||||
CNOOC Petroleum North America ULC, 7.88%, 03/15/2032
|
38,000
|
44,787
|
||||
Enbridge, Inc.
|
||||||
5.30%, 04/05/2029
|
40,000
|
39,901
|
||||
5.70%, 03/08/2033
|
449,000
|
450,042
|
||||
5.63%, 04/05/2034
|
280,000
|
277,838
|
||||
5.95%, 04/05/2054
|
150,000
|
148,973
|
||||
TotalEnergies Capital SA
|
||||||
5.15%, 04/05/2034
|
180,000
|
179,292
|
||||
5.49%, 04/05/2054
|
225,000
|
221,888
|
||||
5.64%, 04/05/2064
|
325,000
|
322,782
|
||||
2,217,393
|
||||||
Financial Services - 0.4%
|
||||||
CK Hutchison International 17 Ltd., 3.50%, 04/05/2027 (a)
|
290,000
|
276,649
|
||||
CK Hutchison International 19 Ltd., 3.63%, 04/11/2029 (a)
|
280,000
|
260,953
|
||||
CRH SMW Finance DAC, 5.20%, 05/21/2029
|
335,000
|
332,886
|
||||
European Bank for Reconstruction & Development, 4.25%, 03/13/2034
|
95,000
|
92,069
|
||||
JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co. Sarl, 2.50%, 01/15/2027
|
699,000
|
644,122
|
||||
SMBC Aviation Capital Finance DAC, 2.30%, 06/15/2028 (a)
|
213,000
|
187,853
|
||||
Sumitomo Mitsui Trust Bank Ltd., 5.50%, 03/09/2028 (a)
|
200,000
|
202,059
|
||||
UBS AG/London, 5.65%, 09/11/2028
|
460,000
|
467,880
|
||||
UBS Group AG
|
||||||
2.19% to 06/05/2025 then SOFR + 2.04%, 06/05/2026 (a)
|
65,000
|
62,680
|
||||
1.31% to 02/02/2026 then SOFR + 0.98%, 02/02/2027 (a)
|
13,000
|
12,068
|
||||
4.19% to 04/01/2030 then SOFR + 3.73%, 04/01/2031 (a)
|
366,000
|
339,752
|
||||
2,878,971
|
||||||
Food, Beverage & Tobacco - 0.1%
|
||||||
Heineken NV, 3.50%, 01/29/2028 (a)
|
882,000
|
835,124
|
||||
Insurance - 0.1%
|
||||||
AIA Group Ltd., 3.20%, 09/16/2040 (a)
|
213,000
|
154,308
|
||||
Fairfax Financial Holdings Ltd., 3.38%, 03/03/2031
|
253,000
|
218,600
|
||||
372,908
|
||||||
Materials - 0.1%
|
||||||
FMG Resources August 2006 Pty Ltd., 5.88%, 04/15/2030 (a)
|
40,000
|
38,782
|
||||
Hudbay Minerals, Inc., 6.13%, 04/01/2029 (a)
|
80,000
|
78,967
|
||||
Newcastle Coal Infrastructure Group Pty Ltd., 4.40%, 09/29/2027 (a)
|
31,777
|
29,963
|
||||
NOVA Chemicals Corp., 4.25%, 05/15/2029 (a)
|
40,000
|
35,150
|
||||
OCI NV, 6.70%, 03/16/2033 (a)
|
218,000
|
215,367
|
||||
Taseko Mines Ltd., 8.25%, 05/01/2030 (a)
|
130,000
|
133,410
|
||||
UPM-Kymmene Oyj, 7.45%, 11/26/2027 (a)
|
6,000
|
6,264
|
||||
Yara International ASA, 3.80%, 06/06/2026 (a)
|
22,000
|
21,210
|
||||
559,113
|
||||||
Media & Entertainment - 0.1%
|
||||||
Tencent Holdings Ltd., 3.98%, 04/11/2029 (a)
|
353,000
|
334,099
|
||||
Pharmaceuticals, Biotechnology & Life Sciences - 0.1%
|
||||||
Pfizer Investment Enterprises Pte Ltd., 5.34%, 05/19/2063
|
440,000
|
412,501
|
||||
Real Estate Management & Development - 0.1%
|
||||||
Macquarie Bank Ltd., 3.62%, 06/03/2030 (a)
|
517,000
|
458,640
|
||||
Mitsui Fudosan Co. Ltd., 3.65%, 07/20/2027 (a)
|
347,000
|
330,413
|
||||
789,053
|
||||||
Semiconductors & Semiconductor Equipment - 0.4%
|
||||||
Renesas Electronics Corp., 2.17%, 11/25/2026 (a)
|
376,000
|
345,428
|
||||
SK Hynix, Inc.
|
||||||
6.38%, 01/17/2028(a)
|
1,049,000
|
1,076,842
|
||||
5.50%, 01/16/2029(a)
|
1,156,000
|
1,153,565
|
||||
2,575,835
|
||||||
Telecommunication Services - 0.1%
|
||||||
British Telecommunications PLC, 5.13%, 12/04/2028
|
345,000
|
342,168
|
||||
Rogers Communications, Inc., 7.50%, 08/15/2038
|
198,000
|
228,346
|
||||
Vodafone Group PLC
|
||||||
4.38%, 02/19/2043
|
335,000
|
283,355
|
||||
5.75%, 02/10/2063
|
87,000
|
84,510
|
||||
938,379
|
||||||
Transportation - 0.2%
|
||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 04/20/2026 (a)
|
73,333
|
72,655
|
||||
AP Moller - Maersk AS, 5.88%, 09/14/2033 (a)
|
837,000
|
847,529
|
||||
Canadian Pacific Railway Co., 2.88%, 11/15/2029
|
33,000
|
29,403
|
||||
Delta Air Lines, Inc. / SkyMiles IP Ltd., 4.75%, 10/20/2028 (a)
|
57,000
|
55,480
|
||||
1,005,067
|
||||||
Utilities - 0.3%
|
||||||
Electricite de France SA
|
||||||
3.63%, 10/13/2025(a)
|
296,000
|
288,550
|
||||
5.70%, 05/23/2028(a)
|
349,000
|
352,958
|
||||
6.95%, 01/26/2039(a)
|
16,000
|
17,409
|
||||
6.90%, 05/23/2053(a)
|
236,000
|
252,368
|
||||
Korea Electric Power Corp., 4.00%, 06/14/2027 (a)
|
703,000
|
678,940
|
||||
National Grid PLC, 5.42%, 01/11/2034
|
290,000
|
282,229
|
||||
1,872,454
|
||||||
TOTAL FOREIGN CORPORATE BONDS
(Cost $31,066,661)
|
30,974,152
|
|||||
ASSET-BACKED SECURITIES - 2.4%
|
Par
|
Value
|
||||
American Airlines Group, Inc.
|
||||||
Series 2016-2, 3.20%, 06/15/2028
|
50,588
|
46,658
|
||||
Series 2019-1, 3.15%, 02/15/2032
|
181,656
|
161,220
|
||||
American Express Travel Related Services Co., Inc., Series 2024-2, Class A, 5.24%,
04/15/2031
|
585,000
|
592,021
|
||||
Aqua Finance Trust, Series 2021-A, Class A, 1.54%, 07/17/2046 (a)
|
41,982
|
37,587
|
||||
Avis Budget Car Rental LLC
|
||||||
Series 2020-2A, Class B, 2.96%, 02/20/2027(a)
|
301,000
|
286,739
|
||||
Series 2023-2A, Class B, 6.03%, 10/20/2027(a)
|
100,000
|
100,097
|
||||
Series 2024-1A, Class B, 5.85%, 06/20/2030(a)
|
100,000
|
99,956
|
||||
Series 2024-2A, Class A, 5.13%, 10/20/2028(a)
|
210,000
|
207,547
|
||||
Beacon Container Finance LLC, Series 2021-1A, Class A, 2.25%, 10/22/2046 (a)
|
300,375
|
266,587
|
||||
BOF URSA Funding Trust, Series 2023-CAR3, Class A2, 6.29%, 07/26/2032 (a)
|
67,075
|
67,587
|
||||
Business Jet Securities LLC, Series 2024-1A, Class A, 6.20%, 05/15/2039 (a)
|
277,104
|
278,843
|
||||
Capital One Financial Corp., Series 2023-A1, Class A, 4.42%, 05/15/2028
|
241,000
|
237,373
|
||||
CarMax Auto Owner Trust, Series 2020-4, Class D, 1.75%, 04/15/2027
|
265,000
|
258,878
|
||||
CC Towers Guarantor LLC, Series 4.24100, 4.24%, 07/15/2028 (a)
|
150,000
|
141,910
|
||||
CCG Receivables Trust, Series 2023-1, Class A2, 5.82%, 09/16/2030 (a)
|
154,651
|
154,911
|
||||
Compass Datacenters LLC, Series 2024-1A, Class A1, 5.25%, 02/25/2049 (a)
|
150,000
|
146,868
|
||||
CyrusOne Data Centers Issuer I LLC, Series 2023-2A, Class A2, 5.56%, 11/20/2048 (a)
|
153,000
|
149,497
|
||||
Cyrusone Holdco LLC
|
||||||
Series 2023-1A, Class A2, 4.30%, 04/20/2048(a)
|
325,000
|
302,830
|
||||
Series 2024-1A, Class A2, 4.76%, 03/22/2049(a)
|
77,000
|
72,834
|
||||
Dell Equipment Finance Trust
|
||||||
Series 2023-3, Class A3, 5.93%, 04/23/2029(a)
|
200,000
|
201,277
|
||||
Series 2024-1, Class A3, 5.39%, 03/22/2030(a)
|
250,000
|
250,248
|
||||
DLLAA LLC, Series 2023-1A, Class A3, 5.64%, 02/22/2028 (a)
|
32,000
|
32,134
|
||||
Elara Depositor LLC, Series 2023-A, Class A, 6.16%, 02/25/2038 (a)
|
252,882
|
254,664
|
||||
Ellington Financial Mortgage Trust, Series 2022-1, Class A1, 2.21%, 01/25/2067 (a)(g)
|
177,995
|
150,222
|
||||
Ford Credit Auto Owner Trust, Series 2024-A, Class B, 5.26%, 11/15/2029
|
85,000
|
84,828
|
||||
Frontier Issuer LLC, Series 2023-1, Class A2, 6.60%, 08/20/2053 (a)
|
250,000
|
252,680
|
||||
GCAT, Series 2021-NQM5, Class A1, 1.26%, 07/25/2066 (a)(g)
|
223,505
|
176,608
|
||||
General Motors Co., Series 2024-1A, Class A1, 5.13%, 03/15/2029 (a)
|
210,000
|
209,274
|
||||
GM Financial Consumer Automobile Receivables Trust, Series 2024-1, Class A3, 4.85%,
12/18/2028
|
635,000
|
629,312
|
||||
Goodgreen Trust, Series 2021-1A, Class A, 2.66%, 10/15/2056 (a)
|
109,630
|
89,383
|
||||
Hilton Grand Vacations, Inc.
|
||||||
Series 2022-2A, Class A, 4.30%, 01/25/2037(a)
|
59,132
|
57,306
|
||||
Series 2024-1B, Class A, 5.75%, 09/15/2039(a)
|
75,345
|
75,830
|
||||
Series 2024-1B, Class B, 5.99%, 09/15/2039(a)
|
109,154
|
109,909
|
||||
IPFS Corp., Series 2024-D, Class A, 5.34%, 04/16/2029 (a)
|
104,000
|
104,020
|
||||
JP Morgan Mortgage Trust, Series 2024-HE1, Class A1, 6.82% (30 day avg SOFR US + 1.50%),
08/25/2054 (a)
|
467,003
|
469,698
|
||||
Kubota Credit Owner Trust
|
||||||
Series 2023-2A, Class A3, 5.28%, 01/18/2028(a)
|
332,000
|
331,409
|
||||
Series 2024-1A, Class A3, 5.19%, 07/17/2028(a)
|
118,000
|
117,591
|
||||
Marriott Vacations Worldwide Corp.
|
||||||
Series 2021-2A, Class A, 1.43%, 05/20/2039(a)
|
241,030
|
222,210
|
||||
Series 2021-2A, Class B, 1.83%, 05/20/2039(a)
|
200,012
|
184,332
|
||||
MMAF Equipment Finance LLC, Series 2023-A, Class A3, 5.54%, 12/13/2029 (a)
|
37,000
|
37,170
|
||||
MVW Owner Trust
|
||||||
Series 2023-1A, Class A, 4.93%, 10/20/2040(a)
|
72,894
|
71,911
|
||||
Series 2023-1A, Class B, 5.42%, 10/20/2040(a)
|
364,472
|
360,904
|
||||
Navient Student Loan Trust
|
||||||
Series 2019-CA, Class A2, 3.13%, 02/15/2068(a)
|
323,695
|
312,415
|
||||
Series 2021-BA, Class A, 0.94%, 07/15/2069(a)
|
44,593
|
38,998
|
||||
Series 2021-EA, Class A, 0.97%, 12/16/2069(a)
|
176,310
|
152,521
|
||||
Series 2024-A, Class A, 5.66%, 10/15/2072(a)
|
373,000
|
373,371
|
||||
OneMain Financial Issuance Trust, Series 2023-2A, Class A1, 5.84%, 09/15/2036 (a)
|
200,000
|
202,011
|
||||
PHH Arval, Series 2024-1A, Class A1, 5.52%, 05/15/2036 (a)
|
197,775
|
197,436
|
||||
Progress Residential Trust, Series 2024-SFR3, Class C, 3.50%, 06/17/2041 (a)
|
250,000
|
221,117
|
||||
RCKT Mortgage Trust, Series 2024-CES2, Class A1A, 6.14%, 04/25/2044 (a)(g)
|
97,501
|
97,178
|
||||
Santander Consumer USA Holdings, Inc., Series 2024-1, Class C, 5.45%, 03/15/2030
|
22,000
|
21,887
|
||||
SBA Depositor LLC, Series 2020-1-2, 2.33%, 01/15/2028 (a)
|
150,000
|
133,643
|
||||
SFS Auto Receivables Securitization Trust, Series 2024-1A, Class C, 5.51%, 01/20/2032 (a)
|
325,000
|
321,731
|
||||
Sierra Timeshare Conduit Receivables Funding LLC
|
||||||
Series 2021-1A, Class A, 0.99%, 11/20/2037(a)
|
117,106
|
111,068
|
||||
Series 2021-2A, Class A, 1.35%, 09/20/2038(a)
|
46,091
|
43,511
|
||||
Series 2021-2A, Class B, 1.80%, 09/20/2038(a)
|
23,045
|
21,684
|
||||
Series 2024-1A, Class C, 5.94%, 01/20/2043(a)
|
181,160
|
180,677
|
||||
SoFi Professional Loan Program LLC, Series 2019-B, Class A2FX, 3.09%, 08/17/2048 (a)
|
50,822
|
48,384
|
||||
Sotheby's Artfi Master Trust, Series 2024-1A, Class A1, 6.43%, 12/22/2031 (a)
|
282,000
|
282,753
|
||||
Stack Infrastructure Issuer LLC
|
||||||
Series 2023-3A, Class A2, 5.90%, 10/25/2048(a)
|
196,139
|
194,968
|
||||
Series 2024-1A, Class A2, 5.90%, 03/25/2049(a)
|
152,000
|
151,758
|
||||
Subway Funding LLC, Series 2024-1A, Class A2I, 6.03%, 07/30/2054 (a)
|
479,000
|
479,000
|
||||
Taco Bell Corp.
|
||||||
Series 2016-1A, Class A23, 4.97%, 05/25/2046(a)
|
50,625
|
49,711
|
||||
Series 2021-1A, Class A2I, 1.95%, 08/25/2051(a)
|
245,625
|
221,262
|
||||
Series 2021-1A, Class A2II, 2.29%, 08/25/2051(a)
|
89,408
|
76,886
|
||||
Towd Point Mortgage Trust
|
||||||
Series 2017-5, Class A1, 6.04% (1 mo. Term SOFR + 0.71%), 02/25/2057(a)
|
28,913
|
29,513
|
||||
Series 2018-2, Class A2, 3.50%, 03/25/2058(a)(g)
|
100,000
|
93,428
|
||||
Series 2022-4, Class A1, 3.75%, 09/25/2062(a)
|
106,922
|
98,544
|
||||
Series 2024-CES1, Class A1A, 5.85%, 01/25/2064(a)(g)
|
284,649
|
282,548
|
||||
Series 2024-CES2, Class A1A, 6.13%, 02/25/2064(a)(g)
|
311,281
|
314,144
|
||||
Trafigura Securitisation Finance PLC, Series 2024-1A, Class A2, 5.98%, 11/15/2027 (a)
|
332,000
|
331,982
|
||||
United Airlines, Inc.
|
||||||
Series 2014-1, 4.00%, 04/11/2026
|
72,699
|
70,269
|
||||
Series 2016-2, 2.88%, 10/07/2028
|
17,327
|
15,695
|
||||
Series 2019-2, 2.70%, 05/01/2032
|
166,436
|
142,490
|
||||
Series 2023-1, 5.80%, 01/15/2036
|
70,000
|
70,355
|
||||
Vantage Data Centers Guarantor LLC
|
||||||
Series 2020-1A, Class A2, 1.65%, 09/15/2045(a)
|
110,000
|
103,574
|
||||
Series 2021-1A, Class A2, 2.17%, 10/15/2046(a)
|
125,000
|
113,992
|
||||
Verizon Master Trust
|
||||||
Series 2023-7, Class A1A, 5.67%, 11/20/2029
|
331,000
|
334,311
|
||||
Series 2024-3, Class A1A, 5.34%, 04/22/2030
|
1,695,000
|
1,705,308
|
||||
Verus Securitization Trust
|
||||||
Series 2021-3, Class A1, 1.05%, 06/25/2066(a)(g)
|
247,629
|
206,671
|
||||
Series 2022-7, Class A1, 5.15%, 07/25/2067(a)(h)
|
292,004
|
288,024
|
||||
Ziply Fiber Issuer LLC, Series 2024-1A, Class B, 7.81%, 04/20/2054 (a)
|
216,373
|
219,427
|
||||
TOTAL ASSET-BACKED SECURITIES
(Cost $16,434,830)
|
16,437,108
|
|||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 2.2%
|
Par
|
Value
|
||||
American Tower Depositor Sub LLC, Series 2023-1, 5.49%, 03/15/2028 (a)
|
300,000
|
301,168
|
||||
BANK-2019, Series 2019-BN17, Class C, 4.51%, 04/15/2052 (g)
|
235,000
|
203,295
|
||||
BANK-2020, Series 2020-BN28, Class A4, 1.84%, 03/15/2063
|
100,000
|
81,146
|
||||
BANK-2022, Series 2022-BNK39, Class A4, 2.93%, 02/15/2055 (g)
|
300,000
|
253,885
|
||||
BANK-2023
|
||||||
Series 2023-BNK45, Class A5, 5.20%, 02/15/2056
|
200,000
|
196,944
|
||||
Series 2023-BNK45, Class C, 6.28%, 02/15/2056(g)
|
200,000
|
199,758
|
||||
BANK5 Trust, Series 2024-5YR5, Class B, 6.54%, 02/15/2029 (g)
|
200,000
|
202,931
|
||||
BBCMS Trust
|
||||||
Series 2022-C17, Class A5, 4.44%, 09/15/2055
|
150,000
|
140,603
|
||||
Series 2023-C20, Class A5, 5.58%, 07/15/2056
|
200,000
|
202,696
|
||||
Series 2023-C22, Class A5, 6.80%, 11/15/2056(g)
|
14,876
|
16,413
|
||||
Series 2024-C24, Class C, 6.00%, 02/15/2057
|
150,000
|
146,555
|
||||
Benchmark Mortgage Trust
|
||||||
Series 2019-B15, Class AS, 3.23%, 12/15/2072
|
25,000
|
21,271
|
||||
Series 2020-B17, Class C, 3.37%, 03/15/2053(g)
|
50,000
|
37,801
|
||||
Series 2023-B40, Class C, 7.39%, 12/15/2056(g)
|
158,000
|
167,524
|
||||
Series 2024-V6, Class C, 6.67%, 03/15/2029
|
200,000
|
199,773
|
||||
Series 2024-V6, Class D, 4.00%, 03/15/2029
|
173,000
|
144,055
|
||||
Series 2024-V7, Class B, 7.08%, 05/15/2056(g)
|
277,000
|
285,034
|
||||
BMO Mortgage Trust
|
||||||
Series 2022-C1, Class A5, 3.37%, 02/15/2055(g)
|
110,000
|
95,957
|
||||
Series 2023-C5, Class C, 6.63%, 06/15/2056(g)
|
99,862
|
100,210
|
||||
Series 2023-C7, Class A5, 6.16%, 12/15/2056
|
277,000
|
292,087
|
||||
Series 2024-5C3, Class B, 6.56%, 02/15/2057(g)
|
155,000
|
156,655
|
||||
Series 2024-5C3, Class D, 4.00%, 02/15/2057(a)
|
92,000
|
75,738
|
||||
Series 2024-C8, Class C, 6.23%, 03/15/2057(g)
|
121,000
|
118,762
|
||||
BX Trust
|
||||||
Series 2021-VOLT, Class D, 7.08% (1 mo. Term SOFR + 1.76%), 09/15/2036(a)
|
375,000
|
371,909
|
||||
Series 2024-XL5, Class D, 8.01% (1 mo. Term SOFR + 2.69%), 03/15/2041(a)
|
240,957
|
241,735
|
||||
Chase Home Lending Mortgage Trust 2023-1, Series 2024-2, Class A6A, 6.00%, 02/25/2055 (a)(g)
|
91,916
|
91,249
|
||||
Chase Home Lending Mortgage Trust Series 2024-2, Series 2024-4, Class A6, 6.00%, 03/25/2055
(a)(g)
|
306,589
|
304,167
|
||||
Citigroup Commercial Mortgage Trust, Series 2022-GC48, Class A5, 4.58%, 05/15/2054 (g)
|
132,000
|
125,708
|
||||
Citigroup/Deutsche Bank Commercial Mortgage Trust, Series 2016-C1, Class A4, 3.28%,
05/10/2049
|
100,000
|
95,571
|
||||
Cold Storage Trust, Series 2020-ICE5, Class A, 6.33% (1 mo. Term SOFR + 1.01%), 11/15/2037
(a)
|
147,449
|
147,275
|
||||
Commercial Mortgage Pass Through Certificates
|
||||||
Series 2014-CR21, Class AM, 3.99%, 12/10/2047
|
20,000
|
19,202
|
||||
Series 2014-UBS3, Class A4, 3.82%, 06/10/2047
|
80,375
|
80,182
|
||||
CSAIL Commercial Mortgage Trust
|
||||||
Series 2015-C3, Class A4, 3.72%, 08/15/2048
|
381,000
|
371,016
|
||||
Series 2015-C3, Class ASB, 3.45%, 08/15/2048
|
122,236
|
121,213
|
||||
ELM Trust
|
||||||
Series 2024-ELM, Class D10, 6.63%, 06/10/2027(a)(g)
|
180,000
|
180,000
|
||||
Series 2024-ELM, Class D15, 6.67%, 06/10/2027(a)(g)
|
123,000
|
123,000
|
||||
Fannie Mae Connecticut Avenue Securities
|
||||||
Series 2021-R03, Class 1B1, 8.07% (30 day avg SOFR US + 2.75%), 12/25/2041(a)
|
100,000
|
102,195
|
||||
Series 2022-R02, Class 2M1, 6.52% (30 day avg SOFR US + 1.20%), 01/25/2042(a)
|
36,221
|
36,241
|
||||
Series 2022-R02, Class 2M2, 8.32% (30 day avg SOFR US + 3.00%), 01/25/2042(a)
|
500,000
|
514,991
|
||||
Series 2022-R03, Class 1M2, 8.82% (30 day avg SOFR US + 3.50%), 03/25/2042(a)
|
110,000
|
115,924
|
||||
Series 2022-R04, Class 1M2, 8.42% (30 day avg SOFR US + 3.10%), 03/25/2042(a)
|
405,000
|
422,625
|
||||
Series 2022-R07, Class 1M2, 9.97% (30 day avg SOFR US + 4.65%), 06/25/2042(a)
|
55,000
|
59,808
|
||||
Series 2023-R02, Class 1M1, 7.62% (30 day avg SOFR US + 2.30%), 01/25/2043(a)
|
81,549
|
83,646
|
||||
Series 2023-R06, Class 1M2, 8.02% (30 day avg SOFR US + 2.70%), 07/25/2043(a)
|
500,000
|
520,701
|
||||
Series 2024-R03, Class 2M2, 7.27% (30 day avg SOFR US + 1.95%), 03/25/2044(a)
|
420,000
|
423,585
|
||||
Series 2024-R04, Class 1M2, 6.97% (30 day avg SOFR US + 1.65%), 05/25/2044(a)
|
99,000
|
99,000
|
||||
FIVE 2023-V1 Mortgage Trust
|
||||||
Series 2023-V1, Class B, 6.30%, 02/10/2056(g)
|
65,000
|
64,765
|
||||
Series 2023-V1, Class C, 6.30%, 02/10/2056(g)
|
88,909
|
88,394
|
||||
Freddie Mac Structured Agency Credit Risk Debt Notes
|
||||||
Series 2021-DNA3, Class M1, 6.07% (30 day avg SOFR US + 0.75%), 10/25/2033(a)
|
168,687
|
168,591
|
||||
Series 2021-DNA6, Class M1, 6.12% (30 day avg SOFR US + 0.80%), 10/25/2041(a)
|
22,865
|
22,839
|
||||
Series 2021-DNA7, Class B1, 8.97% (30 day avg SOFR US + 3.65%), 11/25/2041(a)
|
500,000
|
522,005
|
||||
Series 2021-HQA4, Class M1, 6.27% (30 day avg SOFR US + 0.95%), 12/25/2041(a)
|
74,590
|
74,472
|
||||
Series 2022-DNA1, Class M2, 7.82% (30 day avg SOFR US + 2.50%), 01/25/2042(a)
|
100,000
|
102,028
|
||||
Series 2022-DNA2, Class M1B, 7.72% (30 day avg SOFR US + 2.40%), 02/25/2042(a)
|
210,000
|
215,467
|
||||
Series 2022-DNA2, Class M2, 9.07% (30 day avg SOFR US + 3.75%), 02/25/2042(a)
|
65,000
|
68,396
|
||||
Series 2022-DNA3, Class M1B, 8.22% (30 day avg SOFR US + 2.90%), 04/25/2042(a)
|
55,000
|
57,255
|
||||
Series 2022-DNA3, Class M2, 9.67% (30 day avg SOFR US + 4.35%), 04/25/2042(a)
|
562,000
|
602,272
|
||||
Series 2022-DNA5, Class M1B, 9.82% (30 day avg SOFR US + 4.50%), 06/25/2042(a)
|
150,000
|
162,859
|
||||
Series 2022-HQA1, Class M1B, 8.82% (30 day avg SOFR US + 3.50%), 03/25/2042(a)
|
55,000
|
57,897
|
||||
Series 2022-HQA2, Class M1B, 9.32% (30 day avg SOFR US + 4.00%), 07/25/2042(a)
|
100,000
|
106,939
|
||||
Series 2024-DNA1, Class M2, 7.27% (30 day avg SOFR US + 1.95%), 02/25/2044(a)
|
500,000
|
503,953
|
||||
Great Wolf Trust 2024-WOLF, Series 2024-WOLF, Class D, 8.21% (1 mo. Term SOFR + 2.89%),
03/15/2039 (a)
|
300,000
|
301,577
|
||||
JP Morgan Chase Commercial Mortgage Securities
|
||||||
Series 2017-JP5, Class ASB, 3.55%, 03/15/2050
|
871,782
|
847,024
|
||||
Series 2022-OPO, Class B, 3.38%, 01/05/2039(a)
|
150,000
|
126,495
|
||||
JP Morgan Mortgage Trust
|
||||||
Series 2024-2, Class A6A, 6.00%, 08/25/2054(a)(g)
|
381,829
|
380,598
|
||||
Series 2024-4, Class A6A, 6.00%, 10/25/2054(a)(g)
|
265,967
|
264,062
|
||||
JPMBB Commercial Mortgage Securities Trust, Series 2015-C33, Class A3, 3.50%, 12/15/2048
|
78,971
|
76,839
|
||||
Manhattan West, Series 2020-1MW, Class A, 2.13%, 09/10/2039 (a)
|
220,000
|
194,784
|
||||
Morgan Stanley Capital I Trust, Series 2015-MS1, Class A4, 3.78%, 05/15/2048 (g)
|
60,000
|
58,533
|
||||
Morgan Stanley Capital I, Inc.
|
||||||
Series 2018-H4, Class C, 5.05%, 12/15/2051(g)
|
25,000
|
22,108
|
||||
Series 2020-HR8, Class A4, 2.04%, 07/15/2053
|
55,000
|
45,610
|
||||
MSWF Commercial Mortgage Trust, Series 2023-2, Class A5, 6.01%, 12/15/2056 (g)
|
250,000
|
260,989
|
||||
ONE Mortgage Trust, Series 2021-PARK, Class A, 6.13% (1 mo. Term SOFR + 0.81%), 03/15/2036
(a)
|
225,000
|
219,307
|
||||
Onslow Bay Mortgage Loan Trust
|
||||||
Series 2021-NQM3, Class A1, 1.05%, 07/25/2061(a)(g)
|
337,295
|
261,476
|
||||
Series 2023-NQM7, Class A1, 6.84%, 04/25/2063(a)(h)
|
249,924
|
252,573
|
||||
Series 2024-NQM4, Class A1, 6.07%, 01/25/2064(a)(h)
|
257,334
|
256,578
|
||||
ORL Trust, Series 2023-GLKS, Class C, 8.97% (1 mo. Term SOFR + 3.65%), 10/19/2036 (a)
|
100,000
|
100,679
|
||||
SGR Residential Mortgage Trust, Series 2021-2, Class A1, 1.74%, 12/25/2061 (a)(g)
|
75,814
|
61,366
|
||||
Wells Fargo Commercial Mortgage Trust
|
||||||
Series 2016-C36, Class A4, 3.07%, 11/15/2059
|
100,000
|
93,820
|
||||
Series 2017-C39, Class B, 4.03%, 09/15/2050
|
246,000
|
225,769
|
||||
Series 2018-C44, Class A5, 4.21%, 05/15/2051
|
100,000
|
94,569
|
||||
Series 2019-C54, Class A4, 3.15%, 12/15/2052
|
100,000
|
88,716
|
||||
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $15,320,393)
|
15,342,808
|
|||||
FOREIGN GOVERNMENT AGENCY ISSUES - 0.6%
|
Par
|
Value
|
||||
Asian Development Bank
|
||||||
1.50%, 01/20/2027
|
330,000
|
303,228
|
||||
3.75%, 04/25/2028
|
135,000
|
130,478
|
||||
4.38%, 03/06/2029
|
235,000
|
232,341
|
||||
4.13%, 01/12/2034
|
100,000
|
96,056
|
||||
Asian Infrastructure Investment Bank/The, 4.25%, 03/13/2034
|
110,000
|
106,200
|
||||
European Investment Bank
|
||||||
4.75%, 06/15/2029
|
365,000
|
367,097
|
||||
4.13%, 02/13/2034
|
115,000
|
110,540
|
||||
Inter-American Development Bank
|
||||||
1.50%, 01/13/2027
|
411,000
|
377,781
|
||||
4.13%, 02/15/2029
|
208,000
|
203,510
|
||||
International Bank for Reconstruction & Development
|
||||||
0.88%, 07/15/2026
|
402,000
|
369,916
|
||||
1.38%, 04/20/2028
|
93,000
|
82,149
|
||||
4.50%, 06/26/2028
|
747,000
|
725,805
|
||||
4.50%, 04/10/2031
|
150,000
|
148,948
|
||||
International Finance Corp., 4.38%, 01/15/2027
|
56,000
|
55,396
|
||||
Kreditanstalt fuer Wiederaufbau, 4.38%, 02/28/2034
|
60,000
|
58,965
|
||||
Nordic Investment Bank, 4.25%, 02/28/2029
|
200,000
|
196,646
|
||||
Province of British Columbia Canada, 4.90%, 04/24/2029
|
320,000
|
321,591
|
||||
Province of Ontario Canada, 5.05%, 04/24/2034
|
275,000
|
278,325
|
||||
TOTAL FOREIGN GOVERNMENT AGENCY ISSUES
(Cost $4,195,849)
|
4,164,972
|
|||||
U.S. GOVERNMENT AGENCY ISSUES - 0.5%
|
Par
|
Value
|
||||
Federal Farm Credit Banks Funding Corp
|
||||||
4.50%, 03/26/2027
|
10,000
|
9,931
|
||||
0.86%, 10/05/2027
|
44,000
|
38,560
|
||||
4.13%, 03/20/2029
|
10,000
|
9,815
|
||||
4.97%, 03/27/2029
|
10,000
|
9,911
|
||||
1.19%, 07/16/2029
|
7,000
|
5,892
|
||||
1.14%, 08/20/2029
|
18,000
|
15,061
|
||||
1.23%, 09/10/2029
|
71,000
|
59,505
|
||||
1.74%, 06/03/2030
|
370,000
|
311,692
|
||||
1.55%, 07/26/2030
|
88,000
|
72,575
|
||||
1.22%, 09/23/2030
|
946,000
|
761,013
|
||||
1.30%, 02/03/2031
|
35,000
|
27,867
|
||||
1.67%, 03/03/2031
|
31,000
|
25,267
|
||||
1.88%, 06/16/2031
|
22,000
|
18,153
|
||||
5.98%, 12/27/2033
|
809,000
|
803,819
|
||||
1.69%, 08/20/2035
|
196,000
|
139,602
|
||||
1.68%, 09/17/2035
|
55,000
|
39,062
|
||||
Federal Home Loan Banks
|
||||||
3.25%, 06/09/2028
|
140,000
|
133,259
|
||||
4.00%, 06/30/2028
|
50,000
|
48,950
|
||||
4.50%, 03/09/2029
|
250,000
|
248,845
|
||||
Tennessee Valley Authority
|
||||||
4.88%, 01/15/2048
|
716,000
|
693,362
|
||||
4.25%, 09/15/2065
|
229,000
|
191,718
|
||||
TOTAL U.S. GOVERNMENT AGENCY ISSUES
(Cost $3,731,918)
|
3,663,859
|
|||||
FOREIGN GOVERNMENT DEBT OBLIGATIONS - 0.5%
|
Par
|
Value
|
||||
Colombia Government International Bond, 3.00%, 01/30/2030
|
250,000
|
203,567
|
||||
Indonesia Government International Bond, 5.25%, 01/17/2042 (a)
|
200,000
|
195,220
|
||||
Mexico Government International Bond, 5.55%, 01/21/2045
|
140,000
|
126,760
|
||||
Panama Government International Bond, 2.25%, 09/29/2032
|
200,000
|
142,890
|
||||
Peruvian Government International Bond
|
||||||
3.00%, 01/15/2034
|
157,000
|
125,930
|
||||
3.30%, 03/11/2041
|
141,000
|
102,708
|
||||
3.55%, 03/10/2051
|
140,000
|
97,321
|
||||
Philippine Government International Bond
|
||||||
7.75%, 01/14/2031
|
211,000
|
240,540
|
||||
6.38%, 10/23/2034
|
394,000
|
428,513
|
||||
Republic of Poland Government International Bond
|
||||||
4.63%, 03/18/2029
|
15,000
|
14,722
|
||||
5.50%, 03/18/2054
|
946,000
|
908,526
|
||||
Republic of South Africa Government International Bond, 5.00%, 10/12/2046
|
200,000
|
134,762
|
||||
Romanian Government International Bond, 6.13%, 01/22/2044 (a)
|
100,000
|
95,102
|
||||
Uruguay Government International Bond
|
||||||
4.38%, 01/23/2031
|
104,000
|
100,614
|
||||
4.13%, 11/20/2045
|
138,000
|
119,270
|
||||
4.98%, 04/20/2055
|
324,000
|
293,819
|
||||
TOTAL FOREIGN GOVERNMENT DEBT
OBLIGATIONS (Cost $3,378,653)
|
3,330,264
|
|||||
NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES - 0.2%
|
Par
|
Value
|
||||
BX Trust, Series 2024-VLT4, Class E, 0.00% (1 mo. Term SOFR + 2.89%), 07/15/2029 (a)
|
213,000
|
212,468
|
||||
MCR Mortgage Trust, Series 2024-HTL, Class B, 7.72% (1 mo. Term SOFR + 2.41%), 02/15/2037 (a)
|
190,398
|
190,963
|
||||
Morgan Stanley ABS Capital I, Inc., Series 2021-230P, Class B, 6.88% (1 mo. Term SOFR +
1.56%), 12/15/2038 (a)
|
98,000
|
91,566
|
||||
SFO Commercial Mortgage Trust, Series 2021-555, Class A, 6.58% (1 mo. Term SOFR + 1.26%),
05/15/2038 (a)
|
341,000
|
325,593
|
||||
SREIT Trust, Series 2021-PALM, Class A, 6.02% (1 mo. Term SOFR + 0.70%), 10/15/2034 (a)
|
175,000
|
173,466
|
||||
STWD Trust, Series 2021-FLWR, Class A, 6.01% (1 mo. Term SOFR + 0.69%), 07/15/2036 (a)
|
150,000
|
148,773
|
||||
TOTAL NON-AGENCY COMMERCIAL MORTGAGE
BACKED SECURITIES (Cost $1,143,821)
|
1,142,829
|
|||||
SHORT-TERM INVESTMENTS - 0.5%
|
||||||
Money Market Funds - 0.5%
|
Shares
|
|
||||
First American Government Obligations Fund - Class X, 5.23%(i)
|
3,385,316
|
3,385,316
|
||||
TOTAL SHORT-TERM INVESTMENTS
(Cost $3,385,316)
|
3,385,316
|
|||||
TOTAL INVESTMENTS - 99.7% (Cost
$690,442,088)
|
$ |
684,850,469
|
||||
Other Assets in Excess of Liabilities - 0.3%
|
2,189,294
|
|||||
TOTAL NET ASSETS - 100.0%
|
|
$ |
687,039,763
|
Percentages are stated as a percent of net assets.
|
|
The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc.
("MSCI") and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
|
AG - Aktiengesellschaft
|
ASA - Advanced Subscription Agreement
|
CMT - Constant Maturity Treasury Rate
|
LIBOR - London Interbank Offered Rate
|
NV - Naamloze Vennootschap
|
PLC - Public Limited Company
|
REIT - Real Estate Investment Trust
|
SA - Sociedad Anónima
|
SOFR - Secured Overnight Financing Rate
|
(a)
|
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only
be resold in transactions exempt from registration to qualified institutional investors. As of May 31, 2024, the value of these securities total $62,513,498 or 9.1% of the Fund’s net assets.
|
(b)
|
Coupon rate is variable or floats based on components including but not limited to reference rate and spread. These securities may
not indicate a reference rate and/or spread in their description. The rate disclosed is as of May 31, 2024.
|
(c)
|
Securities referencing LIBOR are expected to transition to an alternative reference rate by the security’s next scheduled coupon
reset date.
|
(d)
|
Zero coupon bonds make no periodic interest payments.
|
(e)
|
Interest only security.
|
(f)
|
Represents less than 0.05% of net assets.
|
(g)
|
Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average
coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of May 31, 2024.
|
(h)
|
Step coupon bond. The rate disclosed is as of May 31, 2024.
|
(i)
|
The rate shown represents the 7-day effective yield as of May 31, 2024.
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Investments:
|
||||||||||||||||
Exchange Traded Funds
|
266,986,018
|
–
|
–
|
266,986,018
|
||||||||||||
U.S. Treasury Securities
|
–
|
167,759,625
|
–
|
167,759,625
|
||||||||||||
Corporate Bonds
|
–
|
111,953,664
|
–
|
111,953,664
|
||||||||||||
Agency Commercial Mortgage Backed Securities
|
–
|
59,709,854
|
–
|
59,709,854
|
||||||||||||
Foreign Corporate Bonds
|
–
|
30,974,152
|
–
|
30,974,152
|
||||||||||||
Asset-Backed Securities
|
–
|
16,437,108
|
–
|
16,437,108
|
||||||||||||
Collateralized Mortgage Obligations
|
–
|
15,342,808
|
–
|
15,342,808
|
||||||||||||
Foreign Government Agency Issues
|
–
|
4,164,972
|
–
|
4,164,972
|
||||||||||||
U.S. Government Agency Issues
|
–
|
3,663,859
|
–
|
3,663,859
|
||||||||||||
Foreign Government Debt Obligations
|
–
|
3,330,264
|
–
|
3,330,264
|
||||||||||||
Non-Agency Commercial Mortgage Backed Securities
|
–
|
1,142,829
|
–
|
1,142,829
|
||||||||||||
Money Market Funds
|
3,385,316
|
–
|
–
|
3,385,316
|
||||||||||||
Total Investments
|
270,371,334
|
414,479,135
|
–
|
684,850,469
|
||||||||||||
Refer to the Schedule of Investments for additional information.
|