PORTFOLIO OF INVESTMENTS – as of December 31, 2022 (Unaudited)

Loomis Sayles Global Allocation Fund

Shares		Description	Value (†)
Common Stocks – 67.3% of Net Assets
		France – 4.7%
	454,627	Dassault Systemes SE	$	16,348,228
	98,236	LVMH Moet Hennessy Louis Vuitton SE		71,485,586
	422,203	Vinci S.A.		42,088,097
				129,921,911
		Japan – 1.8%
	2,082,561	Nomura Research Institute Ltd.		49,510,649
		Netherlands – 3.1%
	155,597	ASML Holding NV		84,839,519
		Sweden – 2.4%
	5,499,996	Atlas Copco AB, Class A		65,166,124
		Taiwan – 1.7%
	3,095,000	Taiwan Semiconductor Manufacturing Co. Ltd.		44,950,105
		United Kingdom – 3.6%
	677,658	Halma PLC		16,138,385
	251,268	Linde PLC		81,958,596
				98,096,981
		United States – 50.0%
	267,538	Accenture PLC, Class A		71,389,840
	88,260	Adobe, Inc.(a)		29,702,138
	651,656	Airbnb, Inc., Class A(a)		55,716,588
	772,781	Alphabet, Inc., Class A(a)		68,182,468
	700,701	Amazon.com, Inc.(a)		58,858,884
	63,195	BlackRock, Inc.		44,781,873
	114,606	Costco Wholesale Corp.		52,317,639
	315,239	Cummins, Inc.		76,379,257
	275,302	Danaher Corp.		73,070,657
	169,360	Estee Lauder Cos., Inc. (The), Class A		42,019,910
	145,377	Goldman Sachs Group, Inc. (The)		49,919,554
	237,362	Home Depot, Inc. (The)		74,973,161
	298,070	IQVIA Holdings, Inc.(a)		61,071,562
	351,466	JPMorgan Chase & Co.		47,131,591
	231,036	Mastercard, Inc., Class A		80,338,148
	36,006	Mettler-Toledo International, Inc.(a)		52,044,873
	198,484	NIKE, Inc., Class B		23,224,613
	314,759	NVIDIA Corp.		45,998,880
	121,353	Roper Technologies, Inc.		52,435,418
	239,457	S&P Global, Inc.		80,203,727
	435,711	Salesforce, Inc.(a)		57,770,921
	94,942	Schneider Electric SE		13,333,140
	187,848	Sherwin-Williams Co. (The)		44,581,966
	175,477	Texas Instruments, Inc.		28,992,310
	127,099	UnitedHealth Group, Inc.		67,385,348

Shares			Description	Value (†)
Common Stocks – continued
			United States – continued
	392,531		Zions Bancorp N.A.	$	19,296,824
					1,371,121,290
			Total Common Stocks (Identified Cost $1,777,881,310)		1,843,606,579
Principal Amount (‡)
Bonds and Notes – 31.7%
Non-Convertible Bonds – 29.1%
			Australia – 1.0%
$	2,990,000		AngloGold Ashanti Holdings PLC, 3.375%, 11/01/2028		2,606,400
	10,700,000		Australia Government Bond, Series 164, 0.500%, 9/21/2026, (AUD)		6,505,883
	800,000		FMG Resources August 2006 Pty Ltd., 4.375%, 4/01/2031, 144A		665,347
	670,000		GAIF Bond Issuer Pty Ltd., 3.400%, 9/30/2026, 144A		615,160
	3,560,000		Glencore Funding LLC, 1.625%, 9/01/2025, 144A		3,225,823
	5,000,000		Macquarie Group Ltd., (fixed rate to 1/14/2032, variable rate thereafter), 2.871%, 1/14/2033, 144A		3,835,913
	4,000,000		Macquarie Group Ltd., (fixed rate to 9/23/2026, variable rate thereafter), 1.629%, 9/23/2027, 144A		3,407,165
	11,610,000		New South Wales Treasury Corp., 2.000%, 3/08/2033, (AUD)		6,117,338
	95,000		Sydney Airport Finance Co. Pty Ltd., 3.375%, 4/30/2025, 144A		90,076
	1,370,000		Westpac Banking Corp., 1.953%, 11/20/2028		1,165,039
					28,234,144
			Belgium – 0.1%
	2,745,000		Anheuser-Busch InBev S.A., EMTN, 2.000%, 1/23/2035, (EUR)		2,377,129
			Brazil – 0.8%
	1,035,000		Braskem Netherlands Finance BV, 4.500%, 1/10/2028		928,095
	1,785,000		Braskem Netherlands Finance BV, 4.500%, 1/31/2030		1,518,069
	53,329	(††)	Brazil Notas do Tesouro Nacional, Series F, 10.000%, 1/01/2031, (BRL)		8,818,448
	2,685,000		Brazilian Government International Bond, 4.500%, 5/30/2029		2,487,799
	1,085,000		Brazilian Government International Bond, 4.625%, 1/13/2028		1,038,884
	2,980,000		BRF S.A., 4.875%, 1/24/2030		2,513,172
	650,000		Centrais Eletricas Brasileiras S.A., 4.625%, 2/04/2030, 144A		568,750

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		Brazil – continued
$	1,100,000	Embraer Netherlands Finance BV, 5.050%, 6/15/2025	$	1,067,561
	575,000	Raizen Fuels Finance S.A., 5.300%, 1/20/2027, 144A		558,469
	2,515,000	Suzano Austria GmbH, 2.500%, 9/15/2028		2,116,045
	1,185,000	Suzano Austria GmbH, 3.125%, 1/15/2032		923,831
	550,000	Suzano Austria GmbH, 3.750%, 1/15/2031		461,410
				23,000,533
		Canada – 1.4%
	790,000	1011778 BC ULC/New Red Finance, Inc., 4.000%, 10/15/2030, 144A		639,750
	339,847	Air Canada Pass Through Trust, Series 2015-2, Class A, 4.125%, 6/15/2029, 144A		274,256
	711,704	Air Canada Pass Through Trust, Series 2017-1, Class AA, 3.300%, 7/15/2031, 144A		602,023
	505,000	Antares Holdings LP, 3.750%, 7/15/2027, 144A		408,240
	1,210,000	Antares Holdings LP, 3.950%, 7/15/2026, 144A		1,039,112
	1,010,000	Antares Holdings LP, 6.000%, 8/15/2023, 144A		995,626
	2,835,000	Bell Telephone Co. of Canada/Bell Canada (The), MTN, 3.600%, 9/29/2027, (CAD)		1,983,998
	1,735,000	Brookfield Finance I UK PLC/ Brookfield Finance ,Inc., 2.340%, 1/30/2032		1,320,836
	1,015,000	Brookfield Finance, Inc., 3.900%, 1/25/2028		930,660
	2,715,000	Brookfield Renewable Partners ULC, MTN, 4.250%, 1/15/2029, (CAD)		1,928,472
	1,220,000	Canada Housing Trust No. 1, 1.550%, 12/15/2026, 144A, (CAD)		828,861
	2,465,000	Canadian Pacific Railway Co., 1.750%, 12/02/2026		2,196,654
	800,000	CPPIB Capital, Inc., 0.375%, 6/20/2024, 144A, (EUR)		820,786
	4,695,000	Enbridge Gas, Inc., MTN, 2.900%, 4/01/2030, (CAD)		3,103,312
	4,770,000	Enbridge, Inc., MTN, 2.990%, 10/03/2029, (CAD)		3,094,652
	2,965,000	Federation des Caisses Desjardins du Quebec, (fixed rate to 5/26/2025, variable rate thereafter), 2.856%, 5/26/2030, (CAD)		2,054,850
	162,257	Institutional Mortgage Securities Canada, Inc., Series 2014-5A, Class A2, 2.616%, 7/12/2047, 144A, (CAD)		117,597
	4,670,000	Ontario Power Generation, Inc., MTN, 2.977%, 9/13/2029, (CAD)		3,115,725
	705,000	Open Text Corp., 6.900%, 12/01/2027, 144A		705,000

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		Canada – continued
	2,355,000	Province of Quebec Canada, 2.300%, 9/01/2029, (CAD)	$	1,579,694
	2,960,000	Shaw Communications, Inc., 3.300%, 12/10/2029, (CAD)		1,931,936
	7,170,000	Toronto-Dominion Bank (The), 1.950%, 1/12/2027		6,388,614
	1,675,000	Toronto-Dominion Bank (The), MTN, 1.150%, 6/12/2025		1,528,042
	1,580,000	Videotron Ltd., 5.125%, 4/15/2027, 144A		1,492,357
				39,081,053
		Chile – 0.6%
	575,000	Antofagasta PLC, 2.375%, 10/14/2030		460,268
	975,000	Antofagasta PLC, 5.625%, 5/13/2032		956,275
	2,525,000	Banco Santander Chile, 3.177%, 10/26/2031, 144A		2,148,068
	950,000	Celulosa Arauco y Constitucion S.A., 4.500%, 8/01/2024		935,334
	1,005,000	Chile Government International Bond, 2.550%, 1/27/2032		822,268
	2,580,000	Colbun S.A., 3.150%, 3/06/2030		2,229,873
	1,960,000	Corp. Nacional del Cobre de Chile, 3.000%, 9/30/2029, 144A		1,711,970
	595,000	Empresa Nacional de Telecomunicaciones S.A., 3.050%, 9/14/2032, 144A		473,025
	1,980,000	Empresa Nacional del Petroleo, 3.450%, 9/16/2031, 144A		1,671,437
	525,000	Enel Chile S.A., 4.875%, 6/12/2028		511,612
	2,690,000	Engie Energia Chile S.A., 3.400%, 1/28/2030		2,196,362
	800,000	Inversiones CMPC S.A., 4.375%, 5/15/2023, 144A		795,200
	1,120,000	Transelec S.A., 4.250%, 1/14/2025, 144A		1,088,770
				16,000,462
		China – 0.2%
	920,000	Alibaba Group Holding Ltd., 3.400%, 12/06/2027		846,276
	795,000	Baidu, Inc., 3.875%, 9/29/2023		784,069
	2,750,000	Shimao Group Holdings Ltd., 3.450%, 1/11/2031(b)		492,250
	2,750,000	Sunac China Holdings Ltd., 5.950%, 4/26/2024(b)		590,782
	625,000	Tencent Holdings Ltd., 2.880%, 4/22/2031, 144A		520,120

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		China – continued
$	500,000	Tencent Holdings Ltd., 2.985%, 1/19/2023, 144A	$	499,560
	1,175,000	Tencent Holdings Ltd., 3.280%, 4/11/2024, 144A		1,146,394
	1,270,000	Weibo Corp., 3.500%, 7/05/2024		1,230,191
				6,109,642
		Colombia – 0.4%
	1,395,000	Colombia Government International Bond, 3.125%, 4/15/2031		1,035,388
	575,000	Colombia Government International Bond, 3.875%, 4/25/2027		508,848
	29,559,900,000	Colombian TES, Series B, 7.500%, 8/26/2026, (COP)		5,205,868
	2,536,000	Ecopetrol S.A., 5.875%, 5/28/2045		1,765,204
	1,300,000	Empresas Publicas de Medellin ESP, 4.250%, 7/18/2029, 144A		1,031,875
	7,073,300,000	Republic of Colombia, Series B, 6.250%, 11/26/2025, (COP)		1,248,141
				10,795,324
		Czech – 0.1%
	1,525,000	CEZ A/S, EMTN, 0.875%, 12/02/2026, (EUR)		1,400,630
	1,120,000	CEZ A/S, EMTN, 3.000%, 6/05/2028, (EUR)		1,079,286
				2,479,916
		Denmark – 0.1%
	2,055,000	Orsted A/S, EMTN, 2.125%, 5/17/2027, (GBP)		2,225,798
		Dominican Republic – 0.2%
	2,160,000	Dominican Republic International Bond, 4.500%, 1/30/2030, 144A		1,838,849
	1,155,000	Dominican Republic International Bond, 4.875%, 9/23/2032, 144A		958,720
	590,000	Dominican Republic International Bond, 5.950%, 1/25/2027, 144A		577,834
	995,000	Dominican Republic International Bond, 6.000%, 7/19/2028, 144A		958,245
	425,000	Dominican Republic International Bond, 8.625%, 4/20/2027, 144A		441,978
				4,775,626
		Ecuador – 0.1%
	4,275,000	Ecuador Government International Bond, 5.500%, 7/31/2030		2,746,780

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		France – 0.3%
$	205,000	BNP Paribas S.A., 4.375%, 5/12/2026, 144A	$	195,314
	890,000	BNP Paribas S.A., (fixed rate to 6/09/2025, variable rate thereafter), 2.219%, 6/09/2026, 144A		817,143
	250,000	Credit Agricole S.A., 3.250%, 10/04/2024, 144A		240,627
	4,500,000	Credit Agricole S.A., (fixed rate to 1/26/2026, variable rate thereafter), 1.247%, 1/26/2027, 144A		3,935,433
	1,400,000	Engie S.A., 1.250%, 10/24/2041, (EUR)		883,142
	1,015,000	Societe Generale S.A., 4.750%, 11/24/2025, 144A		974,242
				7,045,901
		Germany – 0.4%
	1,635,000	Deutsche Bank AG, (fixed rate to 1/07/2027, variable rate thereafter), 2.552%, 1/07/2028		1,389,823
	305,000	Deutsche Bank AG, (fixed rate to 10/07/2031, variable rate thereafter), 3.742%, 1/07/2033		216,604
	2,255,000	Deutsche Bank AG, (fixed rate to 10/14/2030, variable rate thereafter), 3.729%, 1/14/2032		1,653,397
	3,220,000	Fraport AG Frankfurt Airport Services Worldwide, 1.875%, 3/31/2028, (EUR)		2,957,064
	3,790,000	Kreditanstalt fuer Wiederaufbau, EMTN, 1.250%, 8/28/2023, (NOK)		381,565
	1,450,000	Siemens Financieringsmaatschappij NV, 2.350%, 10/15/2026, 144A		1,319,282
	490,000	Volkswagen Group of America Finance LLC, 1.625%, 11/24/2027, 144A		410,253
	730,000	Volkswagen Group of America Finance LLC, 4.350%, 6/08/2027, 144A		699,728
	2,100,000	Vonovia SE, EMTN, 0.750%, 9/01/2032, (EUR)		1,489,168
				10,516,884
		Guatemala – 0.1%
	1,050,000	CT Trust, 5.125%, 2/03/2032, 144A		923,832
	1,026,000	Millicom International Cellular S.A., 6.250%, 3/25/2029, 144A		980,879
	1,035,000	Millicom International Cellular S.A., 6.625%, 10/15/2026		1,023,180
				2,927,891
		Hong Kong – 0.1%
	355,000	AIA Group Ltd., 3.200%, 3/11/2025, 144A		340,402
	1,405,000	AIA Group Ltd., 3.600%, 4/09/2029		1,277,602

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		Hong Kong – continued
$	1,135,000	AIA Group Ltd., 3.900%, 4/06/2028, 144A	$	1,065,683
				2,683,687
		India – 0.5%
	1,195,000	Adani Ports & Special Economic Zone Ltd., 3.100%, 2/02/2031, 144A		876,556
	2,480,000	Adani Ports & Special Economic Zone Ltd., 4.200%, 8/04/2027		2,176,877
	2,940,000	Bharti Airtel Ltd., 3.250%, 6/03/2031		2,484,913
	2,790,000	Export-Import Bank of India, 2.250%, 1/13/2031, 144A		2,191,986
	1,250,000	Power Finance Corp. Ltd., 3.950%, 4/23/2030, 144A		1,095,813
	2,400,000	Shriram Finance Ltd., 4.150%, 7/18/2025, 144A		2,211,168
	2,420,000	Shriram Finance Ltd., EMTN, 4.400%, 3/13/2024		2,328,330
				13,365,643
		Indonesia – 0.3%
	1,475,000	Indonesia Government International Bond, 2.850%, 2/14/2030		1,324,211
	300,000	Indonesia Government International Bond, 4.125%, 1/15/2025, 144A		296,712
	50,092,000,000	Indonesia Treasury Bond, Series FR75, 7.500%, 5/15/2038, (IDR)		3,311,314
	43,840,000,000	Indonesia Treasury Bond, Series FR82, 7.000%, 9/15/2030, (IDR)		2,842,933
				7,775,170
		Ireland – 0.3%
	645,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.000%, 10/29/2028		540,365
	3,245,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.300%, 1/30/2032		2,536,814
	1,250,000	Bank of Ireland Group PLC, 4.500%, 11/25/2023, 144A		1,236,972
	375,000	Ireland Government Bond, 3.400%, 3/18/2024, (EUR)		404,630
	3,710,000	Ireland Government Bond, Zero Coupon, 0.029%, 10/18/2031, (EUR)(c)		3,060,884
				7,779,665
		Israel – 0.9%
	10,950,000	State of Israel, Series 0330, 1.000%, 3/31/2030, (ILS)		2,596,668
	2,750,000	Teva Pharmaceutical Finance Co. LLC, 6.150%, 2/01/2036		2,417,433
	4,570,000	Teva Pharmaceutical Finance Netherlands III BV, 3.150%, 10/01/2026		3,996,465

Principal Amount (‡)			Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
			Israel – continued
$	17,791,000		Teva Pharmaceutical Finance Netherlands III BV, 4.100%, 10/01/2046	$	10,877,867
	4,675,000		Teva Pharmaceutical Finance Netherlands III BV, 4.750%, 5/09/2027		4,225,731
	510,000		Teva Pharmaceutical Finance Netherlands III BV, 5.125%, 5/09/2029		454,179
					24,568,343
			Italy – 0.6%
	200,000		Intesa Sanpaolo SpA, 5.710%, 1/15/2026, 144A		192,200
	530,000		Intesa Sanpaolo SpA, EMTN, 3.928%, 9/15/2026, (EUR)		557,903
	6,965,000		Italy Buoni Poliennali Del Tesoro, 1.350%, 4/01/2030, (EUR)		6,122,724
	3,305,000		Italy Buoni Poliennali Del Tesoro, 2.000%, 2/01/2028, (EUR)		3,233,299
	3,335,000		Republic of Italy, 2.500%, 11/15/2025, (EUR)		3,477,632
	1,975,000		Republic of Italy Government International Bond, 2.375%, 10/17/2024		1,858,850
	830,000		UniCredit SpA, (fixed rate to 4/02/2029, variable rate thereafter), 7.296%, 4/02/2034, 144A		760,688
	1,460,000		UniCredit SpA, (fixed rate to 6/19/2027, variable rate thereafter), 5.861%, 6/19/2032, 144A		1,284,610
	200,000		UniCredit SpA, (fixed rate to 6/30/2030, variable rate thereafter), 5.459%, 6/30/2035, 144A		162,490
					17,650,396
			Japan – 0.8%
	1,026,922,400	(†††)	Japan Government CPI Linked Bond, Series 23, 0.100%, 3/10/2028, (JPY)		8,098,895
	2,375,000		Mitsubishi UFJ Financial Group, Inc., (fixed rate to 1/19/2027, variable rate thereafter), 2.341%, 1/19/2028		2,090,437
	2,020,000		Mizuho Financial Group, Inc., 2.564%, 9/13/2031		1,539,264
	2,000,000		Mizuho Financial Group, Inc., (fixed rate to 7/10/2023, variable rate thereafter), 1.241%, 7/10/2024		1,951,589
	2,000,000		Nomura Holdings, Inc., 1.851%, 7/16/2025		1,822,915
	2,385,000		Nomura Holdings, Inc., 2.710%, 1/22/2029		1,987,225
	3,050,000		Sumitomo Mitsui Financial Group, Inc., 1.402%, 9/17/2026		2,655,993
	1,445,000		Sumitomo Mitsui Financial Group, Inc., 3.040%, 7/16/2029		1,249,430
					21,395,748
			Korea – 0.9%
	1,650,000		Kia Corp., 1.750%, 10/16/2026, 144A		1,417,878

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		Korea – continued
$	1,060,000	Kia Corp., 2.750%, 2/14/2027, 144A	$	935,143
	1,515,000	Korea East-West Power Co. Ltd., 1.750%, 5/06/2025, 144A		1,397,124
	2,400,000	Korea National Oil Corp., 2.125%, 4/18/2027, 144A		2,116,014
	4,500,000,000	Republic of Korea, Series 2312, 0.875%, 12/10/2023, (KRW)		3,464,471
	4,500,000,000	Republic of Korea, Series 2509, 1.125%, 9/10/2025, (KRW)		3,319,957
	13,130,550,000	Republic of Korea, Series 3012, 1.500%, 12/10/2030, (KRW)		8,752,215
	770,000	Shinhan Bank Co. Ltd., 3.875%, 3/24/2026, 144A		718,398
	2,765,000	SK Hynix, Inc., 2.375%, 1/19/2031, 144A		2,027,201
	140,000	SK Telecom Co. Ltd., 6.625%, 7/20/2027, 144A		147,454
				24,295,855
		Luxembourg – 0.1%
	920,000	ArcelorMittal S.A., 6.750%, 3/01/2041		887,156
	1,905,000	Blackstone Property Partners Europe Holdings S.a.r.l., EMTN, 1.625%, 4/20/2030, (EUR)		1,392,080
	280,000	Logicor Financing S.a.r.l., EMTN, 0.875%, 1/14/2031, (EUR)		193,946
	1,490,000	Logicor Financing S.a.r.l., EMTN, 1.625%, 1/17/2030, (EUR)		1,159,422
	100,000	Logicor Financing S.a.r.l., EMTN, 2.000%, 1/17/2034, (EUR)		67,620
				3,700,224
		Mexico – 1.6%
	620,000	Alfa SAB de CV, 6.875%, 3/25/2044		605,488
	770,000	America Movil SAB de CV, 2.125%, 3/10/2028, (EUR)		757,367
	860,000	America Movil SAB de CV, 2.875%, 5/07/2030		730,088
	730,000	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santander, 5.375%, 4/17/2025, 144A		722,335
	1,905,000	Cemex SAB de CV, 3.875%, 7/11/2031, 144A		1,607,886
	855,000	Cemex SAB de CV, 5.450%, 11/19/2029		820,796
	400,000	Cemex SAB de CV, 7.375%, 6/05/2027, 144A		410,500
	1,775,000	Coca-Cola Femsa SAB de CV, 2.750%, 1/22/2030		1,528,719

Principal Amount (‡)			Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
			Mexico – continued
$	800,000		Gruma SAB de CV, 4.875%, 12/01/2024	$	791,000
	10,000,000		Grupo Televisa SAB, EMTN, 7.250%, 5/14/2043, (MXN)		314,967
	1,515,000		Kimberly-Clark de Mexico SAB de CV, 2.431%, 7/01/2031		1,211,106
	840,000		Kimberly-Clark de Mexico SAB de CV, 2.431%, 7/01/2031, 144A		671,504
	1,707,184	(††††)	Mexican Fixed Rate Bonds, Series M, 5.750%, 3/05/2026, (MXN)		7,924,193
	1,294,043	(††††)	Mexican Fixed Rate Bonds, Series M 20, 8.500%, 5/31/2029, (MXN)		6,452,119
	637,836	(††††)	Mexican Fixed Rate Bonds, Series M 30, 8.500%, 11/18/2038, (MXN)		3,096,892
	724,558	(††††)	Mexican Fixed Rate Bonds, Series M-20, 7.500%, 6/03/2027, (MXN)		3,504,605
	2,665,000		Mexico Government International Bond, 3.250%, 4/16/2030		2,321,611
	1,880,000		Mexico Government International Bond, 3.500%, 2/12/2034		1,504,505
	196,000		Mexico Government International Bond, 4.000%, 3/15/2115, (EUR)		146,624
	810,000		Mexico Government International Bond, 4.875%, 5/19/2033		743,533
	1,850,000		Orbia Advance Corp. SAB de CV, 1.875%, 5/11/2026, 144A		1,617,289
	1,240,000		Orbia Advance Corp. SAB de CV, 4.000%, 10/04/2027		1,143,067
	3,505,000		Petroleos Mexicanos, 5.950%, 1/28/2031		2,652,752
	100,000		Sigma Alimentos S.A. de CV, 2.625%, 2/07/2024, 144A, (EUR)		104,397
	835,000		Sigma Alimentos S.A. de CV, 4.125%, 5/02/2026		791,165
	2,090,000		Sigma Finance Netherlands BV, 4.875%, 3/27/2028		1,980,302
	1,010,000		Unifin Financiera SAB de CV, 7.250%, 9/27/2023(b)		30,229
	2,195,000		Unifin Financiera SAB de CV, 9.875%, 1/28/2029(b)		54,875
					44,239,914
			Netherlands – 0.1%
	870,000		Cooperatieve Rabobank U.A., 4.375%, 8/04/2025		848,911
	1,725,000		ING Groep NV, (fixed rate to 7/01/2025, variable rate thereafter), 1.400%, 7/01/2026, 144A		1,550,809
					2,399,720
			New Zealand – 0.6%
	5,000,000		Fonterra Co-operative Group Ltd., MTN, 5.500%, 2/26/2024, (AUD)		3,437,910

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		New Zealand – continued
	3,575,000	New Zealand Government Bond, Series 0429, 3.000%, 4/20/2029, (NZD)	$	2,086,143
	10,700,000	New Zealand Government Bond, Series 0524, 0.500%, 5/15/2024, (NZD)		6,384,059
	6,310,000	New Zealand Government Bond, Series 0531, 1.500%, 5/15/2031, (NZD)		3,187,749
				15,095,861
		Nigeria – 0.1%
	1,975,000	Nigeria Government International Bond, 6.125%, 9/28/2028, 144A		1,526,951
		Norway – 0.7%
	3,660,000	DNB Bank ASA, (fixed rate to 5/25/2026, variable rate thereafter), 1.535%, 5/25/2027, 144A		3,181,198
	2,790,000	Equinor ASA, 3.625%, 4/06/2040		2,293,087
	16,500,000	Norway Government Bond, Series 478, 1.500%, 2/19/2026, 144A, (NOK)		1,605,772
	41,750,000	Norway Government Bond, Series 479, 1.750%, 2/17/2027, 144A, (NOK)		4,048,144
	36,610,000	Norway Government Bond, Series 480, 2.000%, 4/26/2028, 144A, (NOK)		3,537,756
	46,500,000	Norway Government Bond, Series 482, 1.375%, 8/19/2030, 144A, (NOK)		4,169,840
	455,000	Var Energi ASA, 8.000%, 11/15/2032, 144A		469,887
				19,305,684
		Panama – 0.0%
	1,485,000	Telecomunicaciones Digitales S.A., 4.500%, 1/30/2030, 144A		1,333,901
		Paraguay – 0.1%
	1,420,000	Paraguay Government International Bond, 4.950%, 4/28/2031, 144A		1,372,257
	800,000	Republic of Paraguay, 5.000%, 4/15/2026, 144A		795,798
				2,168,055
		Peru – 0.3%
	3,220,000	Corp. Financiera de Desarrollo S.A., 2.400%, 9/28/2027, 144A		2,690,761
	2,005,000	Peruvian Government International Bond, 2.392%, 1/23/2026		1,845,527
	2,455,000	Peruvian Government International Bond, 3.000%, 1/15/2034		1,933,689
	1,050,000	Transportadora de Gas del Peru S.A., 4.250%, 4/30/2028, 144A		983,226
				7,453,203

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		Philippines – 0.0%
$	1,060,000	Philippine Government International Bond, 2.457%, 5/05/2030	$	927,288
		Poland – 0.2%
	12,970,000	Republic of Poland Government Bond, Series 0725, 3.250%, 7/25/2025, (PLN)		2,715,460
	26,400,000	Republic of Poland Government Bond, Series 1030, 1.250%, 10/25/2030, (PLN)		4,043,740
				6,759,200
		Portugal – 0.1%
	3,590,000	EDP Finance BV, 1.710%, 1/24/2028, 144A		2,974,171
		Qatar – 0.1%
	1,770,000	Ooredoo International Finance Ltd., 2.625%, 4/08/2031, 144A		1,519,297
	1,600,000	QatarEnergy Trading LLC, 2.250%, 7/12/2031, 144A		1,323,939
				2,843,236
		Romania – 0.0%
	1,100,000	Romania Government International Bond, 2.000%, 4/14/2033, 144A, (EUR)		752,325
		Singapore – 0.5%
	1,450,000	BOC Aviation Ltd., 3.250%, 4/29/2025, 144A		1,374,701
	860,000	BOC Aviation USA Corp., 1.625%, 4/29/2024, 144A		816,292
	4,510,000	Republic of Singapore, 2.750%, 7/01/2023, (SGD)		3,347,295
	10,055,000	Singapore Government Bond, 2.125%, 6/01/2026, (SGD)		7,329,925
				12,868,213
		South Africa – 0.7%
	1,400,000	Anglo American Capital PLC, 2.625%, 9/10/2030, 144A		1,137,759
	1,400,000	Anglo American Capital PLC, 5.625%, 4/01/2030, 144A		1,389,830
	1,420,000	MTN (Mauritius) Investments Ltd., 4.755%, 11/11/2024		1,380,666
	930,000	MTN (Mauritius) Investments Ltd., 4.755%, 11/11/2024, 144A		904,239
	116,835,000	Republic of South Africa Government Bond, Series 2035, 8.875%, 2/28/2035, (ZAR)		5,789,749
	39,185,000	Republic of South Africa Government Bond, Series R213, 7.000%, 2/28/2031, (ZAR)		1,860,170

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		South Africa – continued
$	7,585,000	Republic of South Africa Government International Bond, 5.750%, 9/30/2049	$	5,549,945
				18,012,358
		Spain – 0.3%
	2,000,000	Banco Santander S.A., (fixed rate to 9/14/2026, variable rate thereafter), 1.722%, 9/14/2027		1,708,333
	600,000	CaixaBank S.A., (fixed rate to 4/17/2025, variable rate thereafter), EMTN, 2.250%, 4/17/2030, (EUR)		585,282
	500,000	CaixaBank S.A., (fixed rate to 7/14/2023, variable rate thereafter), EMTN, 2.750%, 7/14/2028, (EUR)		524,900
	3,700,000	Cellnex Telecom S.A., EMTN, 1.750%, 10/23/2030, (EUR)		3,066,741
	700,000	Naturgy Finance BV, EMTN, 1.500%, 1/29/2028, (EUR)		665,000
	430,000	Spain Government Bond, 1.600%, 4/30/2025, 144A, (EUR)		446,993
	2,525,000	Spain Government Bond, 1.950%, 7/30/2030, 144A, (EUR)		2,457,977
				9,455,226
		Supranationals – 0.4%
	1,495,000	Corporacion Andina de Fomento, 2.375%, 5/12/2023		1,477,968
	10,030,000	International Bank for Reconstruction & Development, 1.200%, 7/22/2026, (CAD)		6,742,990
	16,750,000	Nordic Investment Bank, EMTN, 1.500%, 3/13/2025, (NOK)		1,644,751
				9,865,709
		Sweden – 0.2%
	1,900,000	Heimstaden Bostad Treasury BV, EMTN, 1.375%, 7/24/2028, (EUR)		1,518,142
	2,560,000	Sweden Government Bond, Series 1058, 2.500%, 5/12/2025, 144A, (SEK)		243,704
	38,000,000	Sweden Government Bond, Series 1062, 0.125%, 5/12/2031, 144A, (SEK)		3,020,948
				4,782,794
		Switzerland – 0.3%
	930,000	Credit Suisse AG, 2.950%, 4/09/2025		837,003
	325,000	Credit Suisse Group AG, (fixed rate to 11/15/2032, variable rate thereafter), 9.016%, 11/15/2033, 144A		332,757
	4,110,000	Credit Suisse Group AG, (fixed rate to 5/14/2031, variable rate thereafter), 3.091%, 5/14/2032, 144A		2,839,790
	2,290,000	Credit Suisse Group AG, (fixed rate to 6/05/2025, variable rate thereafter), 2.193%, 6/05/2026, 144A		1,955,870
	295,000	Credit Suisse Group AG, (fixed rate to 7/15/2025, variable rate thereafter), 6.373%, 7/15/2026, 144A		276,960
	345,000	Credit Suisse Group AG, (fixed rate to 8/11/2027, variable rate thereafter), 6.442%, 8/11/2028, 144A		314,247

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		Switzerland – continued
$	500,000	Credit Suisse Group AG, (fixed rate to 8/12/2032, variable rate thereafter), 6.537%, 8/12/2033, 144A	$	439,240
	1,375,000	Novartis Capital Corp., 2.000%, 2/14/2027		1,250,532
	340,000	Willow No. 2 (Ireland) PLC for Zurich Insurance Co. Ltd., EMTN, (fixed rate to 10/01/2025, variable rate thereafter), 4.250%, 10/01/2045		307,700
				8,554,099
		Taiwan – 0.2%
	1,925,000	TSMC Arizona Corp., 2.500%, 10/25/2031		1,575,364
	3,180,000	TSMC Arizona Corp., 4.125%, 4/22/2029		3,020,229
				4,595,593
		Tanzania – 0.0%
	985,000	HTA Group Ltd., 7.000%, 12/18/2025, 144A		906,200
		Thailand – 0.0%
	950,000	Thaioil Treasury Center Co. Ltd., 3.625%, 1/23/2023, 144A		949,069
		Trinidad And Tobago – 0.0%
	415,000	Trinidad Generation Unlimited, 5.250%, 11/04/2027, 144A		400,475
		Turkey – 0.6%
	2,045,000	Aydem Yenilenebilir Enerji A/S, 7.750%, 2/02/2027, 144A		1,664,794
	2,250,000	TC Ziraat Bankasi A/S, 5.375%, 3/02/2026, 144A		2,031,367
	2,830,000	Turk Telekomunikasyon AS, 6.875%, 2/28/2025		2,664,671
	525,000	Turk Telekomunikasyon AS, 6.875%, 2/28/2025, 144A		494,330
	2,875,000	Turkcell Iletisim Hizmetleri AS, 5.800%, 4/11/2028		2,472,212
	6,970,000	Turkey Government International Bond, 5.250%, 3/13/2030		5,593,425
	1,345,000	Turkey Government International Bond, 7.625%, 4/26/2029		1,265,457
				16,186,256
		United Arab Emirates – 0.1%
	1,610,000	Abu Dhabi Crude Oil Pipeline LLC, 3.650%, 11/02/2029		1,505,350
	1,295,000	Abu Dhabi Government International Bond, 3.125%, 4/16/2030, 144A		1,200,791
				2,706,141

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		United Kingdom – 0.4%
$	200,000	Ashtead Capital, Inc., 5.500%, 8/11/2032, 144A	$	191,294
	95,000	Avon Products, Inc., 8.450%, 3/15/2043		90,953
	1,350,000	CK Hutchison International 19 Ltd., 3.625%, 4/11/2029, 144A		1,246,201
	1,420,000	Diageo Capital PLC, 2.125%, 4/29/2032		1,130,887
	1,125,000	Lloyds Banking Group PLC, (fixed rate to 7/09/2024, variable rate thereafter), 3.870%, 7/09/2025		1,088,853
	1,395,000	Nationwide Building Society, (fixed rate to 7/18/2029, variable rate thereafter), 3.960%, 7/18/2030, 144A		1,207,797
	1,190,000	NatWest Markets PLC, 0.800%, 8/12/2024, 144A		1,102,506
	235,000	Network Rail Infrastructure Finance PLC, EMTN, 4.750%, 1/22/2024, (GBP)		285,432
	955,000	Santander U.K. Group Holdings PLC, (fixed rate to 1/11/2027, variable rate thereafter), 2.469%, 1/11/2028		815,531
	1,455,000	Standard Chartered PLC, (fixed rate to 11/18/2030, variable rate thereafter), 3.265%, 2/18/2036, 144A		1,075,858
	2,200,000	Standard Chartered PLC, (fixed rate to 3/30/2025, variable rate thereafter), 3.971%, 3/30/2026, 144A		2,101,314
	250,000	Standard Chartered PLC, EMTN, 3.125%, 11/19/2024, (EUR)		262,622
				10,599,248
		United States – 11.1%
	165,000	AES Corp. (The), 3.950%, 7/15/2030, 144A		145,530
	315,000	Aircastle Ltd., Series A (fixed rate to 6/15/2026, variable rate thereafter), 5.250%, 144A(d)		242,550
	1,915,000	Albemarle Corp., 5.050%, 6/01/2032		1,804,864
	480,000	Allison Transmission, Inc., 4.750%, 10/01/2027, 144A		445,123
	1,145,000	Ally Financial, Inc., Series B, (fixed rate to 5/15/2026, variable rate thereafter), 4.700%(d)		765,719
	965,000	Ally Financial, Inc., Series C, (fixed rate to 5/15/2028, variable rate thereafter), 4.700%(d)		604,331
	1,313,306	American Airlines Pass Through Trust, Series 2016-1, Class B, 5.250%, 7/15/2025		1,277,886
	976,644	American Airlines Pass Through Trust, Series 2016-3, Class B, 3.750%, 4/15/2027		867,573
	286,103	American Airlines Pass Through Trust, Series 2017-1B, Class B, 4.950%, 8/15/2026		269,025
	343,364	American Airlines Pass Through Trust, Series 2017-2, Class B, 3.700%, 4/15/2027		308,532
	3,975,000	Apple, Inc., 2.513%, 8/19/2024, (CAD)		2,835,666
	260,000	Aptiv PLC, 1.600%, 9/15/2028, (EUR)		242,278

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		United States – continued
$	2,330,000	Ares Capital Corp., 3.200%, 11/15/2031	$	1,709,871
	1,300,000	Ashland LLC, 3.375%, 9/01/2031, 144A		1,039,052
	2,865,000	Bank of America Corp., (fixed rate to 9/15/2026, variable rate thereafter), 1.978%, 9/15/2027, (CAD)		1,884,235
	910,000	Bank of America Corp., (fixed rate to 9/21/2031, variable rate thereafter), 2.482%, 9/21/2036		668,632
	665,000	Barings BDC, Inc., 3.300%, 11/23/2026		563,640
	7,800,000	Bausch Health Cos., Inc., 4.875%, 6/01/2028, 144A		4,961,126
	4,695,000	Bausch Health Cos., Inc., 5.000%, 1/30/2028, 144A		2,253,574
	370,000	Bausch Health Cos., Inc., 7.000%, 1/15/2028, 144A		178,839
	1,140,000	Beazer Homes USA, Inc., 7.250%, 10/15/2029		1,014,012
	500,000	Block, Inc., 3.500%, 6/01/2031		398,963
	25,000	Boeing Co. (The), 3.250%, 2/01/2035		19,012
	165,000	Boeing Co. (The), 3.550%, 3/01/2038		121,566
	25,000	Boeing Co. (The), 3.625%, 3/01/2048		16,357
	80,000	Boeing Co. (The), 3.750%, 2/01/2050		55,144
	635,000	Boeing Co. (The), 3.850%, 11/01/2048		435,862
	640,000	Boeing Co. (The), 3.950%, 8/01/2059		429,773
	875,000	BPR Trust, Series 2021-NRD, Class F, 1-month SOFR + 6.870%, 11.196%, 12/15/2038, 144A(e)		769,566
	690,000	Broadcom, Inc., 3.187%, 11/15/2036, 144A		495,619
	545,000	Carnival Corp., 5.750%, 3/01/2027, 144A		389,152
	490,000	Catalent Pharma Solutions, Inc., 3.125%, 2/15/2029, 144A		390,150
	10,570,000	CCO Holdings LLC/CCO Holdings Capital Corp., 4.250%, 2/01/2031, 144A		8,486,442
	3,810,000	CCO Holdings LLC/CCO Holdings Capital Corp., 4.250%, 1/15/2034, 144A		2,811,951
	1,575,000	CCO Holdings LLC/CCO Holdings Capital Corp., 4.750%, 2/01/2032, 144A		1,276,853
	595,000	CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/01/2027, 144A		554,582
	240,000	CCO Holdings LLC/CCO Holdings Capital Corp., 5.500%, 5/01/2026, 144A		232,344
	370,000	Celanese U.S. Holdings LLC, 6.330%, 7/15/2029		359,507

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		United States – continued
$	270,000	Celanese U.S. Holdings LLC, 6.379%, 7/15/2032	$	256,756
	2,510,000	Centene Corp., 2.500%, 3/01/2031		1,964,008
	160,000	Centene Corp., 2.625%, 8/01/2031		125,728
	975,000	Centene Corp., 3.000%, 10/15/2030		799,256
	165,000	Charles River Laboratories International, Inc., 3.750%, 3/15/2029, 144A		145,926
	175,000	Charles River Laboratories International, Inc., 4.000%, 3/15/2031, 144A		151,375
	6,405,000	Charter Communications Operating LLC / Charter Communications Operating Capital, 4.400%, 12/01/2061		4,097,108
	150,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 2.300%, 2/01/2032		110,482
	360,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 2.800%, 4/01/2031		280,263
	1,075,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 3.950%, 6/30/2062		634,143
	180,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 4.400%, 4/01/2033		154,019
	4,025,000	CommScope Technologies LLC, 5.000%, 3/15/2027, 144A		2,733,786
	7,265,000	CommScope, Inc., 4.750%, 9/01/2029, 144A		5,857,043
	1,565,000	CommScope, Inc., 7.125%, 7/01/2028, 144A		1,118,770
	2,087,000	Continental Resources, Inc., 2.875%, 4/01/2032, 144A		1,545,816
	4,565,000	Continental Resources, Inc., 5.750%, 1/15/2031, 144A		4,249,377
	20,100,000	CSC Holdings LLC, 4.625%, 12/01/2030, 144A		11,107,945
	2,060,000	CSC Holdings LLC, 5.000%, 11/15/2031, 144A		1,150,922
	595,000	CSC Holdings LLC, 5.375%, 2/01/2028, 144A		479,719
	495,000	CSC Holdings LLC, 5.750%, 1/15/2030, 144A		279,175
	1,115,000	CSC Holdings LLC, 6.500%, 2/01/2029, 144A		911,513
	490,000	Dana, Inc., 5.375%, 11/15/2027		454,532
	80,000	Darling Ingredients, Inc., 6.000%, 6/15/2030, 144A		78,200
	2,235,000	DCP Midstream Operating LP, 3.250%, 2/15/2032		1,848,636

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		United States – continued
$	380,000	DCP Midstream Operating LP, 5.125%, 5/15/2029	$	366,219
	940,000	DH Europe Finance II S.a.r.l., 0.750%, 9/18/2031, (EUR)		785,057
	50,000	Dillard’s, Inc., 7.000%, 12/01/2028		49,490
	8,000	Dillard’s, Inc., 7.750%, 7/15/2026		8,256
	355,000	DIRECTV Financing LLC/DIRECTV Financing Co-Obligor, Inc., 5.875%, 8/15/2027, 144A		317,604
	2,475,000	DISH DBS Corp., 5.125%, 6/01/2029		1,596,647
	4,115,000	DISH DBS Corp., 5.250%, 12/01/2026, 144A		3,466,209
	1,960,000	DISH DBS Corp., 7.750%, 7/01/2026		1,580,524
	160,000	Edison International, 4.950%, 4/15/2025		157,344
	575,000	EnLink Midstream Partners LP, 5.450%, 6/01/2047		461,869
	280,000	EPR Properties, 3.600%, 11/15/2031		202,860
	70,000	EQT Corp., 3.125%, 5/15/2026, 144A		64,332
	1,555,000	EQT Corp., 3.625%, 5/15/2031, 144A		1,317,763
	360,000	EQT Corp., 5.000%, 1/15/2029		337,953
	190,000	EQT Corp., 5.700%, 4/01/2028		188,979
	115,000	Everi Holdings, Inc., 5.000%, 7/15/2029, 144A		98,781
	3,780,000	Expedia Group, Inc., 2.950%, 3/15/2031		3,039,616
	170,000	Ford Motor Co., 3.250%, 2/12/2032		127,490
	1,755,000	Ford Motor Co., 6.625%, 10/01/2028		1,735,011
	2,710,000	Freeport-McMoRan, Inc., 4.375%, 8/01/2028		2,529,433
	6,640,000	Freeport-McMoRan, Inc., 5.400%, 11/14/2034		6,270,698
	2,710,000	General Motors Co., 5.200%, 4/01/2045		2,202,608
	405,000	General Motors Co., 6.250%, 10/02/2043		374,434
	315,000	Georgia-Pacific LLC, 8.875%, 5/15/2031		383,973
	460,000	GLP Capital LP/GLP Financing II, Inc., 3.250%, 1/15/2032		367,717
	855,000	Go Daddy Operating Co. LLC/GD Finance Co., Inc., 3.500%, 3/01/2029, 144A		715,799

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		United States – continued
$	975,000	Goodyear Tire & Rubber Co. (The), 7.000%, 3/15/2028	$	970,427
	830,000	HCA, Inc., 3.500%, 9/01/2030		715,855
	610,000	Hess Midstream Operations LP, 4.250%, 2/15/2030, 144A		521,502
	660,000	Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, 4.875%, 7/01/2031, 144A		538,661
	470,000	Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, 5.000%, 6/01/2029, 144A		404,200
	1,000,000	Hyundai Capital America, 2.650%, 2/10/2025		940,395
	1,395,000	Hyundai Capital America, 6.375%, 4/08/2030, 144A		1,413,552
	9,810,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.375%, 2/01/2029		8,295,826
	1,180,000	Icahn Enterprises LP/Icahn Enterprises Finance Corp., 5.250%, 5/15/2027		1,080,408
	1,210,000	iHeartCommunications, Inc., 4.750%, 1/15/2028, 144A		985,351
	665,000	iHeartCommunications, Inc., 5.250%, 8/15/2027, 144A		563,310
	1,980,000	iHeartCommunications, Inc., 8.375%, 5/01/2027		1,683,846
	1,135,000	Iron Mountain, Inc., 4.875%, 9/15/2029, 144A		989,947
	795,000	JBS USA LUX S.A./JBS USA Food Co./JBS USA Finance, Inc., 3.750%, 12/01/2031, 144A		649,436
	730,000	JELD-WEN, Inc., 4.875%, 12/15/2027, 144A		549,449
	1,135,000	John Deere Capital Corp., MTN, 0.450%, 6/07/2024		1,066,704
	345,000	Lithia Motors, Inc., 3.875%, 6/01/2029, 144A		284,346
	870,000	Marriott Ownership Resorts, Inc., 4.500%, 6/15/2029, 144A		721,775
	44,000	Masco Corp., 6.500%, 8/15/2032		45,041
	615,000	Medtronic Global Holdings SCA, 1.125%, 3/07/2027, (EUR)		596,720
	2,119,637	Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.500%, 6/20/2027, 144A		2,107,347
	435,000	Molina Healthcare, Inc., 3.875%, 5/15/2032, 144A		361,241
	490,000	MSCI, Inc., 3.250%, 8/15/2033, 144A		378,407
	2,135,000	Nationstar Mortgage Holdings, Inc., 5.500%, 8/15/2028, 144A		1,740,903
	1,365,000	Navient Corp., 5.000%, 3/15/2027		1,194,939

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		United States – continued
$	191,000	Navient Corp., Series A, 5.625%, 8/01/2033	$	136,066
	4,600,000	NCL Corp. Ltd., 5.875%, 3/15/2026, 144A		3,613,162
	615,000	NCL Corp. Ltd., 5.875%, 2/15/2027, 144A		532,319
	790,000	NCL Finance Ltd., 6.125%, 3/15/2028, 144A		583,195
	2,620,000	Netflix, Inc., 4.875%, 6/15/2030, 144A		2,443,409
	310,000	Netflix, Inc., 5.375%, 11/15/2029, 144A		300,700
	20,000	NGPL PipeCo LLC, 7.768%, 12/15/2037, 144A		20,810
	475,000	Novelis Corp., 4.750%, 1/30/2030, 144A		421,118
	30,000	Occidental Petroleum Corp., 6.125%, 1/01/2031		30,276
	2,355,000	Occidental Petroleum Corp., 6.625%, 9/01/2030		2,433,610
	50,000	Occidental Petroleum Corp., 7.875%, 9/15/2031		55,200
	1,845,000	Occidental Petroleum Corp., 8.875%, 7/15/2030		2,083,013
	1,170,000	OneMain Finance Corp., 5.625%, 3/15/2023		1,165,794
	860,000	OneMain Finance Corp., 6.875%, 3/15/2025		826,181
	2,310,000	OneMain Finance Corp., 7.125%, 3/15/2026		2,196,533
	130,000	OneMain Finance Corp., 8.250%, 10/01/2023		130,642
	1,490,000	Oracle Corp., 3.950%, 3/25/2051		1,061,534
	1,000,000	Ovintiv, Inc., 6.500%, 8/15/2034		1,006,247
	45,000	Ovintiv, Inc., 6.500%, 2/01/2038		44,583
	230,000	Ovintiv, Inc., 6.625%, 8/15/2037		231,322
	30,000	Ovintiv, Inc., 7.200%, 11/01/2031		31,488
	115,000	Ovintiv, Inc., 7.375%, 11/01/2031		122,404
	130,000	Ovintiv, Inc., 8.125%, 9/15/2030		142,656
	8,630,000	Owl Rock Capital Corp., 4.250%, 1/15/2026		7,922,499
	1,550,000	Owl Rock Technology Finance Corp., 2.500%, 1/15/2027		1,263,543
	2,120,000	Owl Rock Technology Finance Corp., 4.750%, 12/15/2025, 144A		1,919,617

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		United States – continued
$	320,000	Pacific Gas & Electric Co., 5.450%, 6/15/2027	$	315,555
	1,265,000	Pilgrim’s Pride Corp., 3.500%, 3/01/2032, 144A		988,800
	315,000	Pilgrim’s Pride Corp., 4.250%, 4/15/2031, 144A		267,925
	1,060,000	Post Holdings, Inc., 4.500%, 9/15/2031, 144A		891,100
	2,165,000	Prologis Euro Finance LLC, 0.250%, 9/10/2027, (EUR)		1,939,679
	1,530,000	Prologis Euro Finance LLC, 0.375%, 2/06/2028, (EUR)		1,356,547
	365,000	Prologis LP, 2.250%, 6/30/2029, (GBP)		369,830
	1,100,000	Realty Income Corp., EMTN, 1.625%, 12/15/2030, (GBP)		993,514
	5,850,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 2.875%, 10/15/2026, 144A		5,014,400
	6,794,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.625%, 3/01/2029		5,383,824
	130,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.625%, 3/01/2029, 144A		103,017
	9,741,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.875%, 3/01/2031, 144A		7,435,066
	4,510,000	Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 4.000%, 10/15/2033, 144A		3,368,339
	2,175,000	Royal Caribbean Cruises Ltd., 4.250%, 7/01/2026, 144A		1,758,156
	4,130,000	Royal Caribbean Cruises Ltd., 5.500%, 4/01/2028, 144A		3,295,926
	1,605,000	SBA Communications Corp., 3.125%, 2/01/2029		1,334,541
	1,020,000	Scientific Games International, Inc., 7.000%, 5/15/2028, 144A		972,988
	525,000	Scientific Games International, Inc., 7.250%, 11/15/2029, 144A		504,000
	435,000	Sensata Technologies BV, 4.000%, 4/15/2029, 144A		375,188
	140,000	Silgan Holdings, Inc., 3.250%, 3/15/2025, (EUR)		144,915
	315,000	Southwestern Energy Co., 4.750%, 2/01/2032		269,196
	2,255,000	Summit Materials LLC/Summit Materials Finance Corp., 5.250%, 1/15/2029, 144A		2,099,461
	380,000	Synchrony Bank, 5.400%, 8/22/2025		374,870
	765,000	Synchrony Bank, 5.625%, 8/23/2027		746,984
	410,000	T-Mobile USA, Inc., 2.400%, 3/15/2029		346,010
	735,000	T-Mobile USA, Inc., 2.700%, 3/15/2032		593,840

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		United States – continued
$	6,900,000	T-Mobile USA, Inc., 3.375%, 4/15/2029	$	6,077,310
	2,420,000	T-Mobile USA, Inc., 3.500%, 4/15/2031		2,090,395
	2,805,000	T-Mobile USA, Inc., 3.875%, 4/15/2030		2,540,810
	255,000	Tapestry, Inc., 3.050%, 3/15/2032		198,468
	165,000	Targa Resources Partners LP/Targa Resources Partners Finance Corp., 4.875%, 2/01/2031		148,987
	165,000	Targa Resources Partners LP/Targa Resources Partners Finance Corp., 5.500%, 3/01/2030		155,252
	100,000	Thermo Fisher Scientific, Inc., EMTN, 1.500%, 10/01/2039, (EUR)		72,581
	245,000	Thermo Fisher Scientific, Inc., EMTN, 1.875%, 10/01/2049, (EUR)		167,032
	90,000	Time Warner Cable LLC, 4.500%, 9/15/2042		65,889
	85,000	Time Warner Cable LLC, 5.500%, 9/01/2041		70,539
	400,000	TopBuild Corp., 4.125%, 2/15/2032, 144A		325,044
	10,000,000	Travel & Leisure Co., 4.500%, 12/01/2029, 144A		8,148,301
	615,000	Travel & Leisure Co., 4.625%, 3/01/2030, 144A		510,001
	65,000	Travel & Leisure Co., 6.625%, 7/31/2026, 144A		63,587
	5,000	TRI Pointe Group, Inc./TRI Pointe Homes, Inc., 5.875%, 6/15/2024		4,976
	775,000	TriNet Group, Inc., 3.500%, 3/01/2029, 144A		637,205
	55,429	U.S. Airways Pass Through Trust, Series 2012-1A, Class A, 5.900%, 4/01/2026		53,611
	227,562	U.S. Airways Pass Through Trust, Series 2012-2A, Class A, 4.625%, 12/03/2026		207,276
	5,320,000	U.S. Treasury Bond, 2.250%, 2/15/2052		3,699,478
	22	U.S. Treasury Inflation Indexed Note, 0.375%, 7/15/2027(f)		21
	7,317,621	U.S. Treasury Inflation Indexed Note, 0.625%, 4/15/2023(f)		7,242,873
	5,930,000	U.S. Treasury Note, 0.125%, 1/31/2023(g)		5,912,129
	1,940,000	U.S. Treasury Note, 0.500%, 11/30/2023		1,866,492
	2,910,000	U.S. Treasury Note, 0.875%, 1/31/2024		2,792,122
	17,750,000	U.S. Treasury Note, 2.250%, 3/31/2024		17,221,660
	13,115,000	Uber Technologies, Inc., 4.500%, 8/15/2029, 144A		11,426,509

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Non-Convertible Bonds – continued
		United States – continued
$	8,655,000	Uber Technologies, Inc., 6.250%, 1/15/2028, 144A	$	8,308,799
	1,555,000	Uber Technologies, Inc., 7.500%, 9/15/2027, 144A		1,556,088
	140,000	Uber Technologies, Inc., 8.000%, 11/01/2026, 144A		140,482
	291,597	United Airlines Pass Through Trust, Series 2016-2, Class B, 3.650%, 4/07/2027		261,224
	1,991,766	United Airlines Pass Through Trust, Series 2020-1, Class A, 5.875%, 4/15/2029		1,961,949
	3,095,000	Verizon Communications, Inc., 2.500%, 5/16/2030, (CAD)		1,934,489
	895,000	VICI Properties LP/VICI Note Co., Inc., 4.250%, 12/01/2026, 144A		834,967
	740,000	VICI Properties LP/VICI Note Co., Inc., 4.500%, 9/01/2026, 144A		696,397
	640,000	VICI Properties LP/VICI Note Co., Inc., 4.625%, 6/15/2025, 144A		613,600
	525,000	VICI Properties LP/VICI Note Co., Inc., 5.625%, 5/01/2024, 144A		519,887
	1,270,000	Warnermedia Holdings, Inc., 4.279%, 3/15/2032, 144A		1,047,140
	130,000	Western Digital Corp., 2.850%, 2/01/2029		100,577
	90,000	Western Digital Corp., 3.100%, 2/01/2032		64,689
	360,000	Western Midstream Operating LP, 4.300%, 2/01/2030		314,251
	820,000	Western Midstream Operating LP, 5.300%, 3/01/2048		674,226
	150,000	Western Midstream Operating LP, 5.450%, 4/01/2044		124,608
	115,000	Western Midstream Operating LP, 5.500%, 8/15/2048		95,447
	475,000	Western Midstream Operating LP, 5.500%, 2/01/2050		391,305
	60,000	Weyerhaeuser Co., 6.950%, 10/01/2027		64,233
	89,000	Weyerhaeuser Co., 7.375%, 3/15/2032		98,379
	1,595,000	Yum! Brands, Inc., 4.625%, 1/31/2032		1,409,863
				304,278,393
		Uruguay – 0.1%
	1,415,000	Uruguay Government International Bond, 4.375%, 1/23/2031		1,405,492
	86,955,000	Uruguay Government International Bond, 8.250%, 5/21/2031, (UYU)		1,879,033
				3,284,525
		Total Non-Convertible Bonds (Identified Cost $941,577,317)		796,755,622

Principal Amount (‡)		Description	Value (†)
Bonds and Notes – continued
Convertible Bonds – 2.6%
		United States – 2.6%
$	40,000	Bentley Systems, Inc., 0.375%, 7/01/2027	$	32,560
	13,075,000	BioMarin Pharmaceutical, Inc., 1.250%, 5/15/2027		14,049,883
	8,470,000	DISH Network Corp., Zero Coupon, 0.000%-9.514%, 12/15/2025(h)		5,421,732
	23,580,000	DISH Network Corp., 3.375%, 8/15/2026		14,772,870
	700,000	Ionis Pharmaceuticals, Inc., Zero Coupon, 0.000%-0.979%, 4/01/2026(h)		646,187
	305,000	JetBlue Airways Corp., 0.500%, 4/01/2026		222,369
	5,340,000	Livongo Health, Inc., 0.875%, 6/01/2025		4,674,529
	4,380,000	NCL Corp. Ltd., 1.125%, 2/15/2027		3,000,037
	430,000	Nutanix, Inc., 0.250%, 10/01/2027		359,695
	135,000	Peloton Interactive, Inc., Zero Coupon, 1.146%, 2/15/2026(c)		95,565
	230,000	Penn Entertainment, Inc., 2.750%, 5/15/2026		339,020
	565,000	RingCentral, Inc., Zero Coupon,7.146%-8.016%, 3/15/2026(h)		443,525
	620,000	Snap, Inc., Zero Coupon, 6.697%-7.641%, 5/01/2027(h)		433,070
	7,365,000	Southwest Airlines Co., 1.250%, 5/01/2025		8,845,365
	1,025,000	Splunk, Inc., 1.125%, 6/15/2027		864,895
	655,000	Spotify USA, Inc., Zero Coupon, 5.189%-5.873%, 3/15/2026(h)		527,275
	15,615,000	Teladoc Health, Inc., 1.250%, 6/01/2027		11,995,362
	6,678,000	Uber Technologies, Inc., Zero Coupon, 0.000%-5.582%, 12/15/2025(h)		5,640,172
	120,000	Zillow Group, Inc., 1.375%, 9/01/2026		120,900
		Total Convertible Bonds (Identified Cost $92,271,282)		72,485,011
Municipals – 0.0%
		United States – 0.0%
	120,000	Tobacco Settlement Financing Corp., Series A-1, 6.706%, 6/01/2046 (Identified Cost $119,990)		108,101
		Total Bonds and Notes (Identified Cost $1,033,968,589)		869,348,734

Shares		Description	Value (†)
Preferred Stocks – 0.1%
Convertible Preferred Stocks – 0.1%
		United States – 0.1%
	1,970	2020 Cash Mandatory Exchangeable Trust, 5.250%, 144A	$	2,253,720
	31,312	El Paso Energy Capital Trust I, 4.750%		1,410,264
				3,663,984
		Total Convertible Preferred Stocks (Identified Cost $3,442,459)		3,663,984
		Total Preferred Stocks (Identified Cost $3,442,459)		3,663,984
Principal Amount (‡)
Short-Term Investments – 0.6%
$	12,760,189	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 12/30/2022 at 1.800% to be repurchased at $12,762,741 on 1/03/2023 collateralized by $14,876,100, U.S. Treasury Note, 1.250% due 3/31/2028 valued at $13,015,427 including accrued interest(i)		12,760,189
	4,100,000	U.S. Treasury Bills, 4.220%, 3/23/2023(j)		4,061,840
		Total Short-Term Investments (Identified Cost $16,821,265)		16,822,029
		Total Investments – 99.7% (Identified Cost $2,832,113,623)		2,733,441,326
		Other assets less liabilities – 0.3%		8,120,600
		Net Assets – 100.0%	$	2,741,561,926

(†) Registered investment companies are required to value portfolio investments using an unadjusted, readily available market quotation. The Fund obtains readily available market quotations from independent pricing services. Fund investments for which readily available market quotations are not available are priced at fair value pursuant to the Fund’s Valuation Procedures. The Board of Trustees has approved a valuation designee who is subject to the Board’s oversight.

Unadjusted readily available market quotations that are utilized for exchange traded equity securities (including shares of closed-end investment companies and exchange-traded funds) include the last sale price quoted on the exchange where the security is traded most extensively. Futures contracts are valued at the closing settlement price on the exchange on which the valuation designee believes that, over time, they are traded most extensively. Shares of open-end investment companies are valued at net asset value per share.

Exchange traded equity securities for which there is no reported sale during the day are fair valued at the closing bid quotation as reported by an independent pricing service. Unlisted equity securities (except unlisted preferred equity securities) are fair valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be fair valued using evaluated bids furnished by an independent pricing service, if available.

Debt securities and unlisted preferred equity securities are fair valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers. Forward foreign currency contracts are fair valued utilizing interpolated rates determined based on information provided by an independent pricing service.

The Fund may also fair value investments in other circumstances such as when extraordinary events occur after the close of a foreign market, but prior to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer’s security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing a Fund’s investments, the valuation designee may, among other things, use modeling tools or other processes that may take into account factors such as issuer specific information, or other related market activity and/or information that occurred after the close of the foreign market but before the time the Fund’s net asset value (“NAV”) is calculated. Fair valuation by the Fund’s valuation designee may require subjective determinations about the value of the investment, and fair values used to determine a Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same investments. In addition, the use of fair value pricing may not always result in adjustments to the prices of investments held by a Fund.

The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period.

(‡) Principal Amount stated in U.S. dollars unless otherwise noted.

(††) Amount shown represents units. One unit represents a principal amount of 1,000.

(†††) Amount shown represents principal amount including inflation adjustments.

(††††) Amount shown represents units. One unit represents a principal amount of 100.

(a) Non-income producing security.

(b) The issuer is in default with respect to interest and/or principal payments. Income is not being accrued.

(c) Interest rate represents annualized yield at time of purchase; not a coupon rate.

(d) Perpetual bond with no specified maturity date.

(e) Variable rate security. Rate as of December 31, 2022 is disclosed.

(f) Treasury Inflation Protected Security (TIPS).

(g) Security (or a portion thereof) has been pledged as collateral for open derivative contracts.

(h) Interest rate represents annualized yield at time of purchase; not a coupon rate. The Fund’s investment in this security is comprised of various lots with differing annualized yields.

(i) The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Fund’s policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Fund’s ability to dispose of the underlying securities. As of December 31, 2022, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement.

(j) Interest rate represents discount rate at time of purchase; not a coupon rate.

144A All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, the value of Rule 144A holdings amounted to $285,879,185 or 10.4% of net assets.

CPI Consumer Price Index

EMTN Euro Medium Term Note

MTN Medium Term Note

SOFR Secured Overnight Financing Rate

AUD Australian Dollar

BRL Brazilian Real

CAD Canadian Dollar

COP Colombian Peso

EUR Euro

GBP British Pound

IDR Indonesian Rupiah

ILS Israeli Shekel

JPY Japanese Yen

KRW South Korean Won

MXN Mexican Peso

NOK Norwegian Krone

NZD New Zealand Dollar

PLN Polish Zloty

SEK Swedish Krona

SGD Singapore Dollar

UYU Uruguayan Peso

ZAR South African Rand

Forward Foreign Currency Contracts

The Fund may enter into forward foreign currency contracts, including forward foreign cross currency contracts, to acquire exposure to foreign currencies or to hedge the Fund’s investments against currency fluctuation. A contract can also be used to offset a previous contract. These contracts involve market risk in excess of the unrealized appreciation (depreciation). The U.S. dollar value of the currencies the Fund has committed to buy or sell represents the aggregate exposure to each currency the Fund has acquired or hedged through currency contracts outstanding at period end. Gains or losses are recorded for financial statement purposes as unrealized until settlement date. Contracts are traded over-the-counter directly with a counterparty. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar. Certain contracts may require the movement of cash and/or securities as collateral for the Fund’s or counterparty’s net obligations under the contracts.

At December 31, 2022, the Fund had the following open forward foreign currency contracts:

Counterparty	Delivery Date		Currency Bought/ Sold (B/S)			Units of Currency		In Exchange for		Notional Value		Unrealized Appreciation (Depreciation)
Bank of America, N.A.		3/15/2023		COP	S		30,469,789,000	$	6,182,366	$	6,201,174	$	(18,808	)
Bank of America, N.A.		3/15/2023		GBP	B		1,007,000		1,218,369		1,219,530		1,161
Bank of America, N.A.		3/15/2023		GBP	B		7,627,000		9,479,026		9,236,700		(242,326	)
Bank of America, N.A.		3/15/2023		JPY	B		8,701,840,000		64,092,037		66,926,419		2,834,382
Bank of America, N.A.		3/15/2023		KRW	S		19,047,379,000		14,592,449		15,092,144		(499,695	)
Bank of America, N.A.		3/15/2023		MXN	S		256,059,000		12,709,976		12,973,502		(263,526	)
Citibank N.A.		3/15/2023		CAD	B		1,865,000		1,370,522		1,378,172		7,650
Citibank N.A.		3/15/2023		CAD	S		25,702,000		18,823,444		18,992,911		(169,467	)
HSBC Bank USA		3/15/2023		AUD	B		3,040,000		2,042,241		2,075,627		33,386
HSBC Bank USA		3/15/2023		AUD	S		3,040,000		2,037,195		2,075,627		(38,432	)
Morgan Stanley Capital Services, Inc.		3/15/2023		EUR	B		85,114,000		91,193,097		91,547,232		354,135
Morgan Stanley Capital Services, Inc.		3/15/2023		NZD	S		6,003,000		3,836,181		3,814,334		21,847
UBS AG		3/15/2023		IDR	S		100,000,000,000		6,407,381		6,417,782		(10,401	)
UBS AG		3/15/2023		SEK	B		7,350,000		725,751		707,183		(18,568	)
Total												$	1,991,338

At December 31, 2022, the Fund had the following open forward cross currency contracts:

Counterparty

Settlement Date

Deliver/Units of Currency

Receive/Units of Currency

Notional Value

Unrealized Appreciation (Depreciation)

Morgan Stanley Capital Services, Inc.

3/15/2023

NOK

30,959,000

EUR

2,940,426

$

3,162,674

$

(6,959

)

Futures Contracts

The Fund may enter into futures contracts. Futures contracts are agreements between two parties to buy and sell a particular instrument or index for a specified price on a specified future date. When the Fund enters into a futures contract, it is required to deposit with (or for the benefit of) its broker an amount of cash or short-term high-quality securities as “initial margin.” As the value of the contract changes, the value of the futures contract position increases or declines. Subsequent payments, known as “variation margin,” are made or received by the Fund, depending on the price fluctuations in the fair value of the contract and the value of cash or securities on deposit with the broker. Realized gain or loss on a futures position is equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, minus brokerage commissions. When the Fund enters into a futures contract certain risks may arise, such as illiquidity in the futures market, which may limit the Fund’s ability to close out a futures contract prior to settlement date, and unanticipated movements in the value of securities or interest rates.

Futures contracts are exchange-traded. Exchange-traded futures contracts are standardized and are settled through a clearing house with fulfillment supported by the credit of the exchange. Therefore, counterparty credit risks to the Fund are reduced; however, in the event that a counterparty enters into bankruptcy, the Fund’s claim against initial/variation margin on deposit with the counterparty may be subject to terms of a final settlement in bankruptcy court.

At December 31, 2022, open long futures contracts were as follows:

Financial Futures	Expiration Date		Contracts		Notional Amount		Value		Unrealized Appreciation (Depreciation)
Ultra 10 Year U.S. Treasury Note		3/22/2023		110	$	13,097,408	$	13,010,938	$	(86,470	)
Ultra Long U.S. Treasury Bond		3/22/2023		189		25,779,391		25,385,062		(394,329	)
Total									$	(480,799	)

Fair Value Measurements

In accordance with accounting standards related to fair value measurements and disclosures, the Fund has categorized the inputs utilized in determining the value of the Fund’s assets or liabilities. These inputs are summarized in the three broad levels listed below:

• Level 1 — quoted prices in active markets for identical assets or liabilities;

• Level 2 — prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and

• Level 3 — prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect the Fund’s own assumptions in determining the fair value of assets or liabilities and would be based on the best information available).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Fund’s pricing policies have been approved by the Board of Trustees. Investments for which market quotations are readily available are categorized in Level 1. Other investments for which an independent pricing service is utilized are categorized in Level 2. Broker-dealer bid prices for which the Fund has knowledge of the inputs used by the broker-dealer are categorized in Level 2. All other investments, including broker-dealer bid prices for which the Fund does not have knowledge of the inputs used by the broker-dealer, as well as investments fair valued by the valuation designee, are categorized in Level 3. All Level 2 and 3 securities are defined as being fair valued.

Under certain conditions and based upon specific facts and circumstances, the Fund’s valuation designee may determine that a fair valuation should be made for portfolio investment(s). These valuation designee fair valuations will be based upon a significant amount of Level 3 inputs.

The following is a summary of the inputs used to value the Fund’s investments as of December 31, 2022, at value:

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks
France	$	—	$	129,921,911	$	—	$	129,921,911
Japan		—		49,510,649		—		49,510,649
Netherlands		—		84,839,519		—		84,839,519
Sweden		—		65,166,124		—		65,166,124
Taiwan		—		44,950,105		—		44,950,105
United Kingdom		81,958,596		16,138,385		—		98,096,981
United States		1,357,788,150		13,333,140		—		1,371,121,290
Total Common Stocks		1,439,746,746		403,859,833		—		1,843,606,579
Bonds and Notes*		—		869,348,734		—		869,348,734
Preferred Stocks*		1,410,264		2,253,720		—		3,663,984
Short-Term Investments		—		16,822,029		—		16,822,029
Total Investments		1,441,157,010		1,292,284,316		—		2,733,441,326
Forward Foreign Currency Contracts (unrealized appreciation)		—		3,252,561		—		3,252,561
Total	$	1,441,157,010	$	1,295,536,877	$	—	$	2,736,693,887

Liability Valuation Inputs

Description	Level 1			Level 2			Level 3		Total
Forward Foreign Currency Contracts (unrealized depreciation)	$	—		$	(1,268,182	)	$	—	$	(1,268,182	)
Futures Contracts (unrealized depreciation)		(480,799	)		—			—		(480,799	)
Total	$	(480,799	)	$	(1,268,182	)	$	—	$	(1,748,981	)

* Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Derivatives

Derivative instruments are defined as financial instruments whose value and performance are based on the value and performance of an underlying asset, reference rate or index. Derivative instruments that the Fund used at period end include forward foreign currency contracts and futures contracts.

The Fund is subject to the risk that changes in foreign currency exchange rates will have an unfavorable effect on the value of Fund assets denominated in foreign currencies. The Fund may enter into forward foreign currency contracts for hedging purposes to protect the value of the Fund’s holdings of foreign securities. The Fund may also use forward foreign currency contracts to gain exposure to foreign currencies, regardless of whether securities denominated in such currencies are held in the Fund. As of December 31, 2022, the Fund engaged in forward foreign currency transactions for hedging purposes and to gain exposure to foreign currencies.

The Fund is subject to the risk that changes in interest rates will affect the value of the Fund’s investments in fixed-income securities. The Fund will be subject to increased interest rate risk to the extent that it invests in fixed-income securities with longer maturities or durations, as compared to investing in fixed-income securities with shorter maturities or durations. The Fund may use futures contracts to hedge against changes in interest rates and to manage duration without having to buy or sell portfolio securities. The Fund may also use futures contracts to gain investment exposure. As of December 31, 2022, the Fund used futures contracts to manage duration.

The following is a summary of derivative instruments for the Fund, as of December 31, 2022:

Assets	Unrealized appreciation on forward foreign currency contracts
Over-the-counter asset derivatives Foreign exchange contracts	$	3,252,561

Liabilities	Unrealized depreciation on forward foreign currency contracts			Unrealized depreciation on futures contracts
Over-the-counter liability derivatives Foreign exchange contracts	$	(1,268,182	)	$	—
Exchange-traded/cleared liability derivatives Interest rate contracts		—			(480,799	)
Total liability derivatives	$	(1,268,182	)	$	(480,799	)

The Fund’s derivatives do not qualify for hedge accounting under authoritative guidance for derivative instruments. The Fund’s investments in derivatives may represent an economic hedge; however, they are considered to be non-hedge transactions for the purpose of this disclosure.

Over-the-counter derivatives, including forward foreign currency contracts, are entered into pursuant to International Swaps and Derivatives Association, Inc. (“ISDA”) agreements negotiated between the Fund and its counterparties. ISDA agreements typically contain, among other things, terms for the posting of collateral and master netting provisions in the event of a default or other termination event. Collateral is posted by the Fund or the counterparty to the extent of the net mark-to-market exposure to the other party of all open contracts under the agreement, subject to minimum transfer requirements. Master netting provisions allow the Fund and the counterparty, in the event of a default or other termination event, to offset amounts owed by each related to derivative contracts, including any posted collateral, to one net amount payable by either the Fund or the counterparty. The Fund’s ISDA agreements typically contain provisions that allow a counterparty to terminate open contracts early if the NAV of the Fund declines beyond a certain threshold. As of December 31, 2022, the fair value of derivative positions subject to these provisions that are in a net liability position by counterparty, and the value of collateral pledged to counterparties for such contracts is as follows:

Counterparty:	Derivatives			Collateral Pledged
Citibank N.A.	$	(161,817	)	$	110,000
HSBC Bank USA		(5,046	)		60,000
UBS AG		(28,969	)		-

Timing differences may exist between when contracts under the ISDA agreement are marked-to-market and when collateral moves. The ISDA agreements include tri-party control agreements under which collateral is held for the benefit of the secured party at a third party custodian, State Street Bank.

Counterparty risk is managed based on policies and procedures established by the Fund’s adviser. Such policies and procedures may include, but are not limited to, minimum counterparty credit rating requirements, monitoring of counterparty credit default swap spreads and posting of collateral. The Fund’s risk of loss from counterparty credit risk on over-the-counter derivatives is generally limited to the Fund’s aggregated unrealized gains and the amount of any collateral pledged to the counterparty, which may be offset by any collateral posted to the Fund by the counterparty. ISDA master agreements can help to manage counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under these ISDA agreements, collateral is routinely transferred if the total net exposure in respect of certain transactions, net of existing collateral already in place, exceeds a specified amount (typically $250,000, depending on the counterparty). With exchange-traded derivatives, there is minimal counterparty credit risk to the Fund because the exchange’s clearinghouse, as counterparty to these instruments, stands between the buyer and the seller of the contract. Credit risk still exists in exchange-traded derivatives with respect to initial and variation margin that is held in a broker’s customer accounts. While brokers typically are required to segregate customer margin for exchange-traded derivatives from their own assets, in the

event that a broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the broker for all its customers, U.S. bankruptcy laws will typically allocate that shortfall on a pro rata basis across all of the broker’s customers, potentially resulting in losses to the Fund. The following table shows (i) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the Fund would incur if parties (including OTC derivative counterparties and brokers holding margin for exchange-traded derivatives) to the relevant financial instruments failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the Fund, and (ii) the amount of loss that the Fund would incur after taking into account master netting provisions pursuant to ISDA agreements, as of December 31, 2022:

Maximum Amount of Loss - Gross	Maximum Amount of Loss - Net
$ 5,962,438	$ 4,025,042

Net loss amount reflects cash received as collateral of $750,000.

Industry Summary at December 31, 2022 (Unaudited)

Semiconductors & Semiconductor Equipment	7.6	%
IT Services	7.3
Life Sciences Tools & Services	6.8
Treasuries	6.6
Capital Markets	6.3
Software	5.7
Machinery	5.2
Chemicals	5.1
Textiles, Apparel & Luxury Goods	3.5
Banking	2.8
Specialty Retail	2.7
Interactive Media & Services	2.5
Health Care Providers & Services	2.5
Cable Satellite	2.5
Banks	2.4
Internet & Direct Marketing Retail	2.2
Hotels, Restaurants & Leisure	2.0
Finance Companies	2.0
Other Investments, less than 2% each	23.4
Short-Term Investments	0.6
Total Investments	99.7
Other assets less liabilities (including forward foreign currency and futures contracts)	0.3
Net Assets	100.0	%

Currency Exposure Summary at December 31, 2022 (Unaudited)

United States Dollar	77.0	%
Euro	9.8
Swedish Krona	2.5
Japanese Yen	2.0
Other, less than 2% each	8.4
Total Investments	99.7
Other assets less liabilities (including forward foreign currency and futures contracts)	0.3
Net Assets	100.0	%