| Avantis Short-Term Fixed Income ETF - Schedule of Investments | ||
| MAY 31, 2023 (UNAUDITED) | ||
| Principal Amount ($)/ Shares | Value ($) | |||||||
CORPORATE BONDS — 66.0% | ||||||||
Aerospace and Defense — 0.7% | ||||||||
General Dynamics Corp., 3.50%, 5/15/25 | 806,000 | 790,343 | ||||||
Huntington Ingalls Industries, Inc., 3.84%, 5/1/25 | 780,000 | 756,077 | ||||||
| 1,546,420 | ||||||||
Air Freight and Logistics — 0.8% | ||||||||
United Parcel Service, Inc., 2.20%, 9/1/24 | 809,000 | 781,854 | ||||||
United Parcel Service, Inc., 3.90%, 4/1/25 | 1,050,000 | 1,035,390 | ||||||
| 1,817,244 | ||||||||
Automobiles — 1.6% | ||||||||
American Honda Finance Corp., 2.15%, 9/10/24 | 617,000 | 593,754 | ||||||
American Honda Finance Corp., 1.00%, 9/10/25 | 1,066,000 | 978,431 | ||||||
American Honda Finance Corp., 4.70%, 1/12/28 | 250,000 | 250,732 | ||||||
General Motors Financial Co., Inc., 4.00%, 1/15/25 | 600,000 | 585,277 | ||||||
General Motors Financial Co., Inc., 2.70%, 8/20/27 | 500,000 | 445,952 | ||||||
Toyota Motor Corp., 2.36%, 7/2/24 | 936,000 | 908,644 | ||||||
| 3,762,790 | ||||||||
Banks — 13.1% | ||||||||
African Development Bank, 3.00%, 9/20/23 | 306,000 | 303,487 | ||||||
African Development Bank, 0.875%, 7/22/26 | 300,000 | 270,861 | ||||||
Asian Development Bank, 0.25%, 10/6/23 | 439,000 | 431,214 | ||||||
Asian Development Bank, 2.625%, 1/30/24 | 355,000 | 348,682 | ||||||
Asian Development Bank, 0.375%, 6/11/24 | 100,000 | 95,332 | ||||||
Asian Infrastructure Investment Bank, 0.25%, 9/29/23 | 434,000 | 426,633 | ||||||
Asian Infrastructure Investment Bank, 2.25%, 5/16/24 | 165,000 | 160,382 | ||||||
Asian Infrastructure Investment Bank, 0.50%, 10/30/24 | 1,104,000 | 1,037,609 | ||||||
Asian Infrastructure Investment Bank, 0.50%, 1/27/26 | 350,000 | 316,134 | ||||||
Asian Infrastructure Investment Bank, 3.75%, 9/14/27(1) | 1,300,000 | 1,279,238 | ||||||
Asian Infrastructure Investment Bank, 4.00%, 1/18/28 | 154,000 | 153,462 | ||||||
Australia & New Zealand Banking Group Ltd., 3.70%, 11/16/25 | 400,000 | 389,228 | ||||||
Bank of Montreal, 1.25%, 9/15/26 | 1,250,000 | 1,105,328 | ||||||
Bank of Nova Scotia, 2.70%, 8/3/26 | 609,000 | 565,365 | ||||||
Barclays PLC, 3.65%, 3/16/25 | 1,050,000 | 1,008,885 | ||||||
Citigroup, Inc., 3.30%, 4/27/25 | 1,188,000 | 1,153,477 | ||||||
Commonwealth Bank of Australia, 5.08%, 1/10/25 | 525,000 | 526,439 | ||||||
Cooperatieve Rabobank UA, 3.375%, 5/21/25 | 1,500,000 | 1,448,234 | ||||||
Council Of Europe Development Bank, 0.25%, 6/10/23 | 24,000 | 23,970 | ||||||
Council Of Europe Development Bank, 1.375%, 2/27/25 | 214,000 | 202,525 | ||||||
Discover Bank, 2.45%, 9/12/24 | 800,000 | 756,114 | ||||||
European Bank for Reconstruction & Development, 0.25%, 7/10/23 | 40,000 | 39,770 | ||||||
European Bank for Reconstruction & Development, 0.50%, 5/19/25 | 500,000 | 462,277 | ||||||
European Investment Bank, 1.375%, 3/15/27 | 230,000 | 208,714 | ||||||
Export Development Canada, 2.625%, 2/21/24 | 100,000 | 98,123 | ||||||
HSBC Holdings PLC, 3.90%, 5/25/26 | 300,000 | 289,471 | ||||||
Inter-American Development Bank, 0.25%, 11/15/23 | 182,000 | 177,745 | ||||||
International Bank for Reconstruction & Development, 2.50%, 3/19/24 | 350,000 | 342,592 | ||||||
International Bank for Reconstruction & Development, 1.50%, 8/28/24 | 1,125,000 | 1,079,403 | ||||||
International Bank for Reconstruction & Development, 0.875%, 7/15/26 | 40,000 | 36,252 | ||||||
International Finance Corp., 2.875%, 7/31/23 | 152,000 | 151,351 | ||||||
JPMorgan Chase & Co., 3.90%, 7/15/25 | 988,000 | 970,839 | ||||||
Kreditanstalt fuer Wiederaufbau, 0.25%, 3/8/24 | 525,000 | 505,135 | ||||||
Kreditanstalt fuer Wiederaufbau, 1.25%, 1/31/25 | 453,000 | 428,461 | ||||||
Landwirtschaftliche Rentenbank, 0.50%, 5/27/25 | 268,000 | 247,552 | ||||||
Mizuho Financial Group, Inc., 3.66%, 2/28/27 | 1,000,000 | 951,291 | ||||||
National Australia Bank Ltd., 2.50%, 7/12/26 | 1,550,000 | 1,449,184 | ||||||
National Australia Bank Ltd., 4.94%, 1/12/28 | 775,000 | 782,389 | ||||||
Nordic Investment Bank, 0.50%, 1/21/26 | 250,000 | 226,901 | ||||||
Oesterreichische Kontrollbank AG, 1.50%, 2/12/25 | 955,000 | 905,394 | ||||||
PNC Bank NA, 2.50%, 8/27/24 | 1,100,000 | 1,053,667 | ||||||
PNC Bank NA, 2.95%, 2/23/25 | 450,000 | 427,181 | ||||||
Royal Bank of Canada, 6.00%, 11/1/27 | 800,000 | 829,366 | ||||||
Santander Holdings USA, Inc., 4.50%, 7/17/25 | 834,000 | 807,545 | ||||||
Toronto-Dominion Bank, 4.11%, 6/8/27 | 1,150,000 | 1,107,311 | ||||||
US Bancorp, 3.95%, 11/17/25 | 1,000,000 | 964,366 | ||||||
Wells Fargo & Co., 3.00%, 10/23/26 | 1,250,000 | 1,166,788 | ||||||
Westpac Banking Corp., 2.85%, 5/13/26 | 1,850,000 | 1,755,843 | ||||||
Westpac Banking Corp., 5.46%, 11/18/27 | 500,000 | 516,386 | ||||||
| 29,983,896 | ||||||||
Beverages — 0.8% | ||||||||
Coca-Cola Co., 1.00%, 3/15/28 | 215,000 | 185,905 | ||||||
Constellation Brands, Inc., 4.40%, 11/15/25 | 715,000 | 703,626 | ||||||
Diageo Capital PLC, 5.30%, 10/24/27 | 800,000 | 823,660 | ||||||
| 1,713,191 | ||||||||
Biotechnology — 0.3% | ||||||||
AbbVie, Inc., 3.20%, 5/14/26 | 610,000 | 585,794 | ||||||
Broadline Retail — 1.2% | ||||||||
Amazon.com, Inc., 2.80%, 8/22/24 | 718,000 | 699,866 | ||||||
Amazon.com, Inc., 5.20%, 12/3/25 | 225,000 | 228,308 | ||||||
Amazon.com, Inc., 3.15%, 8/22/27 | 2,000,000 | 1,909,101 | ||||||
| 2,837,275 | ||||||||
Capital Markets — 2.8% | ||||||||
Bank of New York Mellon Corp., 1.60%, 4/24/25 | 1,000,000 | 940,138 | ||||||
Charles Schwab Corp., 3.75%, 4/1/24(1) | 100,000 | 98,221 | ||||||
Charles Schwab Corp., 3.85%, 5/21/25 | 463,000 | 448,006 | ||||||
CME Group, Inc., 3.00%, 3/15/25 | 1,850,000 | 1,789,380 | ||||||
Goldman Sachs Group, Inc., 3.85%, 1/26/27 | 950,000 | 913,172 | ||||||
Jefferies Financial Group, Inc., 4.85%, 1/15/27 | 200,000 | 197,628 | ||||||
Lazard Group LLC, 3.75%, 2/13/25 | 667,000 | 640,351 | ||||||
State Street Corp., 3.55%, 8/18/25 | 1,369,000 | 1,332,302 | ||||||
| 6,359,198 | ||||||||
Chemicals — 0.1% | ||||||||
Linde, Inc., 2.65%, 2/5/25 | 313,000 | 301,161 | ||||||
Construction Materials — 0.5% | ||||||||
Vulcan Materials Co., 5.80%, 3/1/26 | 1,200,000 | 1,203,573 | ||||||
Consumer Staples Distribution & Retail — 2.5% | ||||||||
Costco Wholesale Corp., 2.75%, 5/18/24 | 1,500,000 | 1,464,308 | ||||||
Dollar Tree, Inc., 4.00%, 5/15/25 | 1,293,000 | 1,264,385 | ||||||
Target Corp., 2.25%, 4/15/25 | 1,620,000 | 1,547,641 | ||||||
Walmart, Inc., 3.30%, 4/22/24 | 565,000 | 556,699 | ||||||
Walmart, Inc., 2.85%, 7/8/24 | 800,000 | 782,326 | ||||||
| 5,615,359 | ||||||||
Containers and Packaging — 0.2% | ||||||||
Amcor Flexibles North America, Inc., 4.00%, 5/17/25 | 46,000 | 44,675 | ||||||
Packaging Corp. of America, 3.65%, 9/15/24 | 500,000 | 489,475 | ||||||
| 534,150 | ||||||||
Diversified Consumer Services — 0.1% | ||||||||
Yale University, 0.87%, 4/15/25 | 300,000 | 279,353 | ||||||
Diversified REITs — 1.3% | ||||||||
ERP Operating LP, 3.375%, 6/1/25 | 463,000 | 447,236 | ||||||
Host Hotels & Resorts LP, 3.875%, 4/1/24 | 850,000 | 837,524 | ||||||
Spirit Realty LP, 4.45%, 9/15/26 | 322,000 | 308,043 | ||||||
Ventas Realty LP, 3.85%, 4/1/27 | 700,000 | 662,048 | ||||||
WP Carey, Inc., 4.00%, 2/1/25 | 763,000 | 742,304 | ||||||
| 2,997,155 | ||||||||
Electric Utilities — 2.5% | ||||||||
Berkshire Hathaway Energy Co., 4.05%, 4/15/25 | 1,588,000 | 1,563,254 | ||||||
Cleco Corporate Holdings LLC, 3.74%, 5/1/26 | 242,000 | 229,346 | ||||||
DTE Electric Co., Series A, 1.90%, 4/1/28 | 350,000 | 310,618 | ||||||
Edison International, 4.70%, 8/15/25 | 1,050,000 | 1,032,960 | ||||||
Entergy Louisiana LLC, 2.40%, 10/1/26 | 450,000 | 415,820 | ||||||
Florida Power & Light Co., 5.05%, 4/1/28 | 100,000 | 102,292 | ||||||
NextEra Energy Capital Holdings, Inc., 1.875%, 1/15/27 | 66,000 | 59,330 | ||||||
Pacific Gas & Electric Co., 5.45%, 6/15/27 | 1,000,000 | 985,678 | ||||||
Public Service Electric & Gas Co., 2.25%, 9/15/26 | 100,000 | 92,418 | ||||||
Sierra Pacific Power Co., 2.60%, 5/1/26 | 675,000 | 635,585 | ||||||
Southwestern Electric Power Co., 1.65%, 3/15/26 | 414,000 | 376,360 | ||||||
| 5,803,661 | ||||||||
Electronic Equipment, Instruments and Components — 0.9% | ||||||||
Avnet, Inc., 4.625%, 4/15/26 | 285,000 | 277,147 | ||||||
Flex Ltd., 3.75%, 2/1/26 | 293,000 | 279,484 | ||||||
Jabil, Inc., 1.70%, 4/15/26 | 705,000 | 634,763 | ||||||
Keysight Technologies, Inc., 4.55%, 10/30/24 | 848,000 | 835,200 | ||||||
| 2,026,594 | ||||||||
Financial Services — 1.0% | ||||||||
National Rural Utilities Cooperative Finance Corp., 3.40%, 2/7/28 | 250,000 | 236,255 | ||||||
Visa, Inc., 3.15%, 12/14/25 | 2,000,000 | 1,936,759 | ||||||
Voya Financial, Inc., 3.65%, 6/15/26 | 15,000 | 14,203 | ||||||
| 2,187,217 | ||||||||
Food Products — 0.5% | ||||||||
Bunge Ltd. Finance Corp., 1.63%, 8/17/25 | 1,059,000 | 978,030 | ||||||
Hershey Co., 2.05%, 11/15/24 | 123,000 | 118,344 | ||||||
| 1,096,374 | ||||||||
Gas Utilities — 0.6% | ||||||||
Southern California Gas Co., 3.15%, 9/15/24 | 1,450,000 | 1,416,434 | ||||||
Ground Transportation — 1.1% | ||||||||
Canadian National Railway Co., 2.75%, 3/1/26(1) | 1,625,000 | 1,545,747 | ||||||
Ryder System, Inc., 2.50%, 9/1/24 | 598,000 | 576,032 | ||||||
Ryder System, Inc., 3.35%, 9/1/25 | 374,000 | 357,531 | ||||||
| 2,479,310 | ||||||||
Health Care Equipment and Supplies — 0.5% | ||||||||
Baxter International, Inc., 2.60%, 8/15/26 | 9,000 | 8,344 | ||||||
Medtronic Global Holdings SCA, 4.25%, 3/30/28 | 1,200,000 | 1,184,441 | ||||||
| 1,192,785 | ||||||||
Health Care Providers and Services — 3.5% | ||||||||
Aetna, Inc., 3.50%, 11/15/24 | 1,140,000 | 1,111,746 | ||||||
Cardinal Health, Inc., 3.50%, 11/15/24 | 1,187,000 | 1,152,654 | ||||||
CVS Health Corp., 2.875%, 6/1/26 | 70,000 | 66,237 | ||||||
HCA, Inc., 5.25%, 6/15/26 | 270,000 | 268,226 | ||||||
HCA, Inc., 4.50%, 2/15/27 | 950,000 | 926,649 | ||||||
Humana, Inc., 5.70%, 3/13/26 | 1,050,000 | 1,053,524 | ||||||
Laboratory Corp. of America Holdings, 3.60%, 2/1/25 | 1,200,000 | 1,165,162 | ||||||
Quest Diagnostics, Inc., 3.45%, 6/1/26 | 627,000 | 602,077 | ||||||
UnitedHealth Group, Inc., 3.50%, 2/15/24 | 1,600,000 | 1,579,152 | ||||||
| 7,925,427 | ||||||||
Hotels, Restaurants and Leisure — 1.6% | ||||||||
Booking Holdings, Inc., 3.65%, 3/15/25 | 425,000 | 416,315 | ||||||
Booking Holdings, Inc., 3.60%, 6/1/26 | 1,350,000 | 1,308,201 | ||||||
Expedia Group, Inc., 4.625%, 8/1/27 | 1,143,000 | 1,114,087 | ||||||
Hyatt Hotels Corp., 4.85%, 3/15/26 | 365,000 | 359,880 | ||||||
Starbucks Corp., 3.80%, 8/15/25 | 393,000 | 384,291 | ||||||
| 3,582,774 | ||||||||
Household Durables — 0.9% | ||||||||
Lennar Corp., 4.75%, 5/30/25 | 400,000 | 394,314 | ||||||
Lennar Corp., 5.25%, 6/1/26 | 600,000 | 599,750 | ||||||
PulteGroup, Inc., 5.00%, 1/15/27 | 1,100,000 | 1,094,593 | ||||||
| 2,088,657 | ||||||||
Industrial Conglomerates — 0.7% | ||||||||
3M Co., 2.65%, 4/15/25(1) | 1,600,000 | 1,533,214 | ||||||
Insurance — 1.1% | ||||||||
Allstate Corp., 0.75%, 12/15/25 | 1,250,000 | 1,124,176 | ||||||
Chubb INA Holdings, Inc., 3.35%, 5/15/24 | 1,350,000 | 1,323,173 | ||||||
| 2,447,349 | ||||||||
Interactive Media and Services — 0.6% | ||||||||
Meta Platforms, Inc., 3.50%, 8/15/27 | 1,500,000 | 1,441,769 | ||||||
IT Services — 1.5% | ||||||||
International Business Machines Corp., 3.625%, 2/12/24 | 650,000 | 641,928 | ||||||
International Business Machines Corp., 7.00%, 10/30/25 | 350,000 | 368,481 | ||||||
International Business Machines Corp., 4.50%, 2/6/28 | 750,000 | 743,091 | ||||||
VeriSign, Inc., 5.25%, 4/1/25 | 1,650,000 | 1,642,311 | ||||||
| 3,395,811 | ||||||||
Machinery — 1.0% | ||||||||
Caterpillar Financial Services Corp., 3.30%, 6/9/24 | 363,000 | 356,641 | ||||||
Caterpillar Financial Services Corp., 1.45%, 5/15/25 | 773,000 | 724,797 | ||||||
Cummins, Inc., 0.75%, 9/1/25 | 900,000 | 823,502 | ||||||
PACCAR Financial Corp., 2.15%, 8/15/24 | 351,000 | 338,852 | ||||||
| 2,243,792 | ||||||||
Media — 0.9% | ||||||||
Comcast Corp., 3.375%, 8/15/25 | 1,406,000 | 1,366,085 | ||||||
Discovery Communications LLC, 4.90%, 3/11/26 | 795,000 | 785,136 | ||||||
| 2,151,221 | ||||||||
Metals and Mining — 1.0% | ||||||||
ArcelorMittal SA, 4.55%, 3/11/26(1) | 320,000 | 313,188 | ||||||
BHP Billiton Finance USA Ltd., 6.42%, 3/1/26 | 300,000 | 310,381 | ||||||
BHP Billiton Finance USA Ltd., 4.75%, 2/28/28 | 1,750,000 | 1,762,943 | ||||||
| 2,386,512 | ||||||||
Multi-Utilities — 0.5% | ||||||||
Black Hills Corp., 3.15%, 1/15/27 | 92,000 | 86,245 | ||||||
Consumers Energy Co., 4.65%, 3/1/28 | 1,000,000 | 1,004,910 | ||||||
Sempra Energy, 3.25%, 6/15/27 | 64,000 | 59,774 | ||||||
| 1,150,929 | ||||||||
Oil, Gas and Consumable Fuels — 5.9% | ||||||||
Boardwalk Pipelines LP, 4.45%, 7/15/27 | 750,000 | 725,380 | ||||||
BP Capital Markets America, Inc., 3.02%, 1/16/27 | 1,025,000 | 971,575 | ||||||
BP Capital Markets America, Inc., 3.59%, 4/14/27 | 1,100,000 | 1,060,591 | ||||||
Cheniere Corpus Christi Holdings LLC, 5.125%, 6/30/27 | 1,100,000 | 1,091,515 | ||||||
Chevron Corp., 2.90%, 3/3/24 | 66,000 | 64,944 | ||||||
Continental Resources, Inc., 4.375%, 1/15/28 | 500,000 | 470,383 | ||||||
Coterra Energy, Inc., 3.90%, 5/15/27 | 75,000 | 71,236 | ||||||
Energy Transfer LP, 4.75%, 1/15/26 | 888,000 | 875,320 | ||||||
Energy Transfer LP, 5.50%, 6/1/27 | 400,000 | 401,260 | ||||||
Energy Transfer LP, 5.55%, 2/15/28 | 500,000 | 501,713 | ||||||
Enterprise Products Operating LLC, 3.90%, 2/15/24 | 145,000 | 143,214 | ||||||
Equinor ASA, 3.70%, 3/1/24 | 841,000 | 830,461 | ||||||
Equinor ASA, 7.25%, 9/23/27 | 300,000 | 333,352 | ||||||
Exxon Mobil Corp., 2.99%, 3/19/25 | 800,000 | 776,175 | ||||||
Marathon Oil Corp., 4.40%, 7/15/27(1) | 1,094,000 | 1,053,772 | ||||||
Phillips 66, 3.85%, 4/9/25 | 480,000 | 468,812 | ||||||
Plains All American Pipeline LP / PAA Finance Corp., 4.50%, 12/15/26 | 625,000 | 604,464 | ||||||
Targa Resources Corp., 5.20%, 7/1/27 | 1,100,000 | 1,086,455 | ||||||
TotalEnergies Capital International SA, 2.43%, 1/10/25 | 875,000 | 840,757 | ||||||
Williams Cos., Inc., 4.00%, 9/15/25 | 1,188,000 | 1,155,452 | ||||||
| 13,526,831 | ||||||||
Personal Care Products† | ||||||||
Estee Lauder Cos., Inc., 2.00%, 12/1/24 | 98,000 | 94,062 | ||||||
Pharmaceuticals — 3.1% | ||||||||
Astrazeneca Finance LLC, 0.70%, 5/28/24 | 650,000 | 620,835 | ||||||
Astrazeneca Finance LLC, 1.20%, 5/28/26 | 499,000 | 451,971 | ||||||
Bristol-Myers Squibb Co., 2.90%, 7/26/24 | 431,000 | 420,942 | ||||||
Bristol-Myers Squibb Co., 3.45%, 11/15/27 | 1,500,000 | 1,446,607 | ||||||
GlaxoSmithKline Capital PLC, 3.00%, 6/1/24 | 537,000 | 525,411 | ||||||
Novartis Capital Corp., 1.75%, 2/14/25 | 1,413,000 | 1,346,136 | ||||||
Pfizer, Inc., 2.95%, 3/15/24 | 1,205,000 | 1,183,769 | ||||||
Royalty Pharma PLC, 1.20%, 9/2/25 | 1,270,000 | 1,148,297 | ||||||
| 7,143,968 | ||||||||
Real Estate Management and Development — 0.2% | ||||||||
CBRE Services, Inc., 4.875%, 3/1/26 | 409,000 | 401,943 | ||||||
Residential REITs — 0.7% | ||||||||
AvalonBay Communities, Inc., 2.95%, 5/11/26 | 775,000 | 731,570 | ||||||
UDR, Inc., 3.50%, 7/1/27 | 800,000 | 752,618 | ||||||
| 1,484,188 | ||||||||
Retail REITs — 1.5% | ||||||||
Federal Realty Investment Trust, 3.25%, 7/15/27 | 750,000 | 687,312 | ||||||
Kimco Realty OP LLC, 3.30%, 2/1/25 | 1,088,000 | 1,046,131 | ||||||
NNN REIT, Inc., 3.50%, 10/15/27 | 500,000 | 464,682 | ||||||
Realty Income Corp., 3.875%, 4/15/25 | 1,300,000 | 1,266,262 | ||||||
| 3,464,387 | ||||||||
Semiconductors and Semiconductor Equipment — 2.6% | ||||||||
Broadcom Corp. / Broadcom Cayman Finance Ltd., 3.875%, 1/15/27 | 1,125,000 | 1,082,086 | ||||||
Intel Corp., 3.40%, 3/25/25 | 1,000,000 | 977,308 | ||||||
Intel Corp., 4.875%, 2/10/28 | 950,000 | 957,373 | ||||||
Lam Research Corp., 3.80%, 3/15/25 | 350,000 | 343,997 | ||||||
Marvell Technology, Inc., 1.65%, 4/15/26 | 380,000 | 343,529 | ||||||
Micron Technology, Inc., 4.98%, 2/6/26 | 595,000 | 591,177 | ||||||
Micron Technology, Inc., 4.19%, 2/15/27 | 750,000 | 722,948 | ||||||
Xilinx, Inc., 2.95%, 6/1/24 | 950,000 | 927,178 | ||||||
| 5,945,596 | ||||||||
Software — 0.2% | ||||||||
Oracle Corp., 2.50%, 4/1/25 | 500,000 | 476,881 | ||||||
Specialized REITs — 1.0% | ||||||||
American Tower Corp., 3.65%, 3/15/27 | 525,000 | 496,351 | ||||||
American Tower Corp., 3.55%, 7/15/27 | 600,000 | 561,451 | ||||||
Crown Castle, Inc., 4.45%, 2/15/26 | 1,175,000 | 1,154,553 | ||||||
Crown Castle, Inc., 3.70%, 6/15/26 | 42,000 | 40,259 | ||||||
| 2,252,614 | ||||||||
Specialty Retail — 1.4% | ||||||||
AutoNation, Inc., 3.50%, 11/15/24 | 800,000 | 773,252 | ||||||
AutoZone, Inc., 3.75%, 6/1/27 | 338,000 | 325,138 | ||||||
Home Depot, Inc., 3.00%, 4/1/26 | 1,000,000 | 965,619 | ||||||
Ross Stores, Inc., 4.60%, 4/15/25 | 1,038,000 | 1,026,932 | ||||||
| 3,090,941 | ||||||||
Technology Hardware, Storage and Peripherals — 2.0% | ||||||||
Apple, Inc., 3.00%, 2/9/24 | 147,000 | 145,123 | ||||||
Apple, Inc., 3.45%, 5/6/24 | 1,750,000 | 1,720,926 | ||||||
Dell International LLC / EMC Corp., 6.02%, 6/15/26 | 1,258,000 | 1,288,003 | ||||||
Hewlett Packard Enterprise Co., 4.90%, 10/15/25 | 1,429,000 | 1,420,158 | ||||||
| 4,574,210 | ||||||||
Textiles, Apparel and Luxury Goods — 0.6% | ||||||||
Ralph Lauren Corp., 3.75%, 9/15/25 | 1,320,000 | 1,283,693 | ||||||
Trading Companies and Distributors — 0.4% | ||||||||
Air Lease Corp., 3.25%, 3/1/25 | 850,000 | 809,784 | ||||||
Air Lease Corp., 2.875%, 1/15/26 | 50,000 | 46,515 | ||||||
| 856,299 | ||||||||
TOTAL CORPORATE BONDS (Cost $152,596,662) | 150,682,002 | |||||||
U.S. TREASURY SECURITIES AND EQUIVALENTS — 30.1% | ||||||||
Israel Government AID Bond, 5.50%, 9/18/23 | 32,000 | 31,998 | ||||||
U.S. Treasury Notes, 0.125%, 8/31/23 | 4,250,000 | 4,194,436 | ||||||
U.S. Treasury Notes, 0.125%, 10/15/23 | 3,400,000 | 3,334,983 | ||||||
U.S. Treasury Notes, 2.75%, 11/15/23 | 3,100,000 | 3,064,587 | ||||||
U.S. Treasury Notes, 0.125%, 12/15/23 | 3,150,000 | 3,063,824 | ||||||
U.S. Treasury Notes, 0.875%, 1/31/24 | 3,100,000 | 3,010,851 | ||||||
U.S. Treasury Notes, 0.125%, 2/15/24 | 1,965,000 | 1,894,218 | ||||||
U.S. Treasury Notes, 1.50%, 2/29/24 | 2,600,000 | 2,528,287 | ||||||
U.S. Treasury Notes, 2.375%, 2/29/24 | 2,260,000 | 2,212,585 | ||||||
U.S. Treasury Notes, 0.375%, 4/15/24 | 2,450,000 | 2,348,654 | ||||||
U.S. Treasury Notes, 0.25%, 6/15/24 | 2,025,000 | 1,925,113 | ||||||
U.S. Treasury Notes, 0.375%, 7/15/24 | 2,125,000 | 2,018,003 | ||||||
U.S. Treasury Notes, 2.375%, 8/15/24 | 2,100,000 | 2,036,467 | ||||||
U.S. Treasury Notes, 2.125%, 9/30/24 | 2,500,000 | 2,412,305 | ||||||
U.S. Treasury Notes, 4.25%, 9/30/24 | 3,000,000 | 2,975,332 | ||||||
U.S. Treasury Notes, 1.50%, 10/31/24 | 2,150,000 | 2,053,796 | ||||||
U.S. Treasury Notes, 1.50%, 11/30/24 | 2,220,000 | 2,116,805 | ||||||
U.S. Treasury Notes, 1.125%, 1/15/25 | 2,000,000 | 1,890,234 | ||||||
U.S. Treasury Notes, 1.50%, 2/15/25 | 2,000,000 | 1,899,180 | ||||||
U.S. Treasury Notes, 2.75%, 2/28/25 | 2,000,000 | 1,939,805 | ||||||
U.S. Treasury Notes, 0.25%, 10/31/25 | 3,100,000 | 2,821,363 | ||||||
U.S. Treasury Notes, 0.375%, 9/30/27 | 4,200,000 | 3,622,008 | ||||||
U.S. Treasury Notes, 0.625%, 11/30/27 | 4,985,000 | 4,328,479 | ||||||
U.S. Treasury Notes, 0.75%, 1/31/28 | 5,050,000 | 4,393,303 | ||||||
U.S. Treasury Notes, 1.125%, 2/29/28 | 5,050,000 | 4,464,516 | ||||||
U.S. Treasury Notes, 1.25%, 4/30/28 | 2,300,000 | 2,038,645 | ||||||
TOTAL U.S. TREASURY SECURITIES AND EQUIVALENTS (Cost $69,587,261) | 68,619,777 | |||||||
U.S. GOVERNMENT AGENCY SECURITIES — 2.5% | ||||||||
Federal Farm Credit Banks Funding Corp., 3.30%, 8/15/24 | 51,000 | 50,024 | ||||||
Federal Farm Credit Banks Funding Corp., 1.125%, 1/6/25 | 250,000 | 236,435 | ||||||
Federal Farm Credit Banks Funding Corp., 4.50%, 3/2/26 | 198,000 | 199,302 | ||||||
FHLB, 0.125%, 6/2/23 | 100,000 | 99,967 | ||||||
FHLB, 3.375%, 12/8/23 | 250,000 | 247,678 | ||||||
FHLB, 3.625%, 2/28/24 | 1,000,000 | 986,668 | ||||||
FHLB, 5.42%, 3/6/24 | 600,000 | 598,205 | ||||||
FHLB, 1.50%, 8/15/24 | 170,000 | 163,150 | ||||||
FHLB, 2.75%, 12/13/24 | 120,000 | 116,326 | ||||||
FHLB, 2.375%, 3/14/25 | 200,000 | 192,110 | ||||||
FHLB, 3.125%, 6/13/25 | 25,000 | 24,346 | ||||||
FHLMC, 0.125%, 10/16/23 | 104,000 | 102,038 | ||||||
FHLMC, 0.25%, 11/6/23 | 104,000 | 101,814 | ||||||
FHLMC, 0.25%, 12/4/23 | 100,000 | 97,381 | ||||||
FHLMC, 5.31%, 11/15/24 | 750,000 | 744,570 | ||||||
FHLMC, 4.00%, 11/25/24 | 550,000 | 538,920 | ||||||
FHLMC, 0.375%, 7/21/25 | 115,000 | 105,471 | ||||||
FNMA, 0.25%, 7/10/23 | 152,000 | 151,149 | ||||||
FNMA, 2.625%, 9/6/24 | 675,000 | 657,042 | ||||||
FNMA, 1.625%, 1/7/25 | 250,000 | 238,299 | ||||||
FNMA, 0.375%, 8/25/25 | 25,000 | 22,869 | ||||||
Tennessee Valley Authority, 0.75%, 5/15/25 | 125,000 | 116,020 | ||||||
TOTAL U.S. GOVERNMENT AGENCY SECURITIES (Cost $5,886,921) | 5,789,784 | |||||||
SOVEREIGN GOVERNMENTS AND AGENCIES — 0.4% | ||||||||
Sweden — 0.4% | ||||||||
Svensk Exportkredit AB, 3.625%, 9/3/24 | 500,000 | 490,975 | ||||||
Svensk Exportkredit AB, 2.25%, 3/22/27 | 350,000 | 326,681 | ||||||
TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES (Cost $822,005) | 817,656 | |||||||
SHORT-TERM INVESTMENTS — 0.9% | ||||||||
Money Market Funds — 0.8% | ||||||||
State Street Navigator Securities Lending Government Money Market Portfolio(2) | 1,873,683 | 1,873,683 | ||||||
Treasury Bills(3) — 0.1% | ||||||||
U.S. Treasury Bills, 5.57%, 6/27/23 | 100,000 | 99,635 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,973,292) | 1,973,318 | |||||||
TOTAL INVESTMENT SECURITIES — 99.9% (Cost $230,866,141) | 227,882,537 | |||||||
OTHER ASSETS AND LIABILITIES — 0.1% | 254,632 | |||||||
TOTAL NET ASSETS — 100.0% | $ | 228,137,169 | ||||||
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
| AID | – | Agency for International Development | ||||||
| Equivalent | – | Security whose payments are secured by the U.S. Treasury | ||||||
| FHLB | – | Federal Home Loan Bank | ||||||
| FHLMC | – | Federal Home Loan Mortgage Corporation | ||||||
| FNMA | – | Federal National Mortgage Association | ||||||