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Schedule of investments (unaudited) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
MORTGAGE-BACKED SECURITIES - 34.5%
FHLMC - 11.3%
Federal Home Loan Mortgage Corp. (FHLMC)		3.500	%		6/1/46-8/1/49		4,230,571	$	4,367,094
Federal Home Loan Mortgage Corp. (FHLMC)		5.000	%		10/1/48-1/1/49		793,689		849,977
Federal Home Loan Mortgage Corp. (FHLMC)		4.000	%		12/1/48-5/1/49		2,746,225		2,847,262
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		7/1/49-10/1/49		5,553,153		5,668,842
Federal Home Loan Mortgage Corp. (FHLMC) Gold		5.000	%		6/1/41		335,924		370,594
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.500	%		3/1/43-12/1/48		2,114,530		2,197,489
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.000	%		6/1/43		3,936,662		4,192,527
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.000	%		10/1/46-5/1/47		3,780,253		3,888,936
Freddie Mac Pool		4.500	%		6/1/38		1,488,320		1,612,581
Total FHLMC									25,995,302
FNMA - 16.2%
Federal National Mortgage Association (FNMA)		3.640	%		11/1/28		100,000		110,846
Federal National Mortgage Association (FNMA)		3.820	%		1/1/29		490,000		553,688
Federal National Mortgage Association (FNMA)		3.830	%		1/1/29		490,000		551,957
Federal National Mortgage Association (FNMA)		3.090	%		5/1/29		100,000		107,700
Federal National Mortgage Association (FNMA)		3.160	%		5/1/29		59,758		64,348
Federal National Mortgage Association (FNMA)		3.240	%		5/1/29		110,000		119,569
Federal National Mortgage Association (FNMA)		3.260	%		5/1/29		99,660		108,091
Federal National Mortgage Association (FNMA)		3.350	%		5/1/29		20,000		21,900
Federal National Mortgage Association (FNMA)		2.790	%		8/1/29		300,000		315,462
Federal National Mortgage Association (FNMA)		2.765	%		8/1/31		200,000		208,654

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		2.770	%		8/1/31		100,000	$	104,376
Federal National Mortgage Association (FNMA)		2.810	%		8/1/31		100,000		104,806
Federal National Mortgage Association (FNMA)		2.850	%		8/1/31		100,000		105,190
Federal National Mortgage Association (FNMA)		2.980	%		8/1/31		100,000		106,218
Federal National Mortgage Association (FNMA)		2.450	%		9/1/31		100,000		101,929
Federal National Mortgage Association (FNMA)		3.500	%		10/1/34-10/1/49		2,800,000		2,882,406	(a)
Federal National Mortgage Association (FNMA)		4.000	%		10/1/40-6/1/57		2,115,317		2,267,135
Federal National Mortgage Association (FNMA)		3.500	%		3/1/43-3/1/57		9,187,367		9,521,449
Federal National Mortgage Association (FNMA)		3.000	%		7/1/46-10/1/49		9,471,644		9,707,374
Federal National Mortgage Association (FNMA)		5.000	%		10/1/48-11/1/48		1,175,362		1,260,656
Federal National Mortgage Association (FNMA)		2.500	%		10/1/49		400,000		398,172	(a)
Federal National Mortgage Association (FNMA)		3.000	%		10/1/49		5,100,000		5,176,898	(a)
Federal National Mortgage Association (FNMA)		4.500	%		10/1/49		1,800,000		1,895,600	(a)
Federal National Mortgage Association (FNMA)		5.000	%		10/1/49		600,000		642,703	(a)
Federal National Mortgage Association (FNMA)		4.500	%		4/1/56-9/1/57		617,875		669,498
Total FNMA									37,106,625
GNMA - 7.0%
Government National Mortgage Association (GNMA)		3.000	%		9/15/42-10/15/42		244,781		252,175
Government National Mortgage Association (GNMA) II		3.500	%		3/20/45-9/20/49		3,805,838		3,963,200
Government National Mortgage Association (GNMA) II		4.000	%		10/20/45-5/20/49		4,023,605		4,214,028
Government National Mortgage Association (GNMA) II		3.000	%		4/20/48		447,464		459,910

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
GNMA - (continued)
Government National Mortgage Association (GNMA) II		4.500	%		6/20/48-3/20/49		2,198,610	$	2,303,158
Government National Mortgage Association (GNMA) II		5.000	%		1/20/49		795,424		839,972
Government National Mortgage Association (GNMA) II		3.000	%		10/1/49		400,000		410,484	(a)
Government National Mortgage Association (GNMA) II		3.500	%		10/1/49		3,200,000		3,315,313	(a)
Government National Mortgage Association (GNMA) II		4.000	%		10/1/49		100,000		104,002	(a)
Government National Mortgage Association (GNMA) II		4.500	%		10/1/49		200,000		209,029	(a)
Total GNMA									16,071,271
TOTAL MORTGAGE-BACKED SECURITIES (Cost - $78,137,423)									79,173,198
CORPORATE BONDS & NOTES - 31.7%
COMMUNICATION SERVICES - 2.6%
Diversified Telecommunication Services - 0.8%
AT&T Inc., Senior Notes		3.400	%		5/15/25		40,000		41,767
AT&T Inc., Senior Notes		6.250	%		3/29/41		60,000		76,038
AT&T Inc., Senior Notes		4.350	%		6/15/45		360,000		378,953
UPCB Finance IV Ltd., Senior Secured Notes		5.375	%		1/15/25		200,000		206,500	(b)
Verizon Communications Inc., Senior Notes		3.500	%		11/1/24		40,000		42,324
Verizon Communications Inc., Senior Notes		3.376	%		2/15/25		59,000		62,278
Verizon Communications Inc., Senior Notes		2.625	%		8/15/26		150,000		152,096
Verizon Communications Inc., Senior Notes		4.329	%		9/21/28		144,000		163,399
Verizon Communications Inc., Senior Notes		3.875	%		2/8/29		50,000		54,915
Verizon Communications Inc., Senior Notes		4.500	%		8/10/33		80,000		92,970
Verizon Communications Inc., Senior Notes		5.250	%		3/16/37		260,000		322,344
Verizon Communications Inc., Senior Notes		4.862	%		8/21/46		70,000		85,621
Verizon Communications Inc., Senior Notes		5.500	%		3/16/47		10,000		13,216
Verizon Communications Inc., Senior Notes		4.522	%		9/15/48		170,000		201,314
Total Diversified Telecommunication Services									1,893,735
Entertainment - 0.1%
Netflix Inc., Senior Notes		5.375	%		2/1/21		30,000		30,975
Viacom Inc., Senior Notes		4.250	%		9/1/23		40,000		42,442
Walt Disney Co., Senior Notes		6.650	%		11/15/37		50,000		75,234	(b)
Total Entertainment									148,651

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - 1.5%
Altice France SA, Senior Secured Notes		7.375	%		5/1/26		300,000	$	322,413	(b)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		5.125	%		5/1/27		150,000		156,938	(b)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		3.579	%		7/23/20		110,000		111,001
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.908	%		7/23/25		160,000		175,646
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.200	%		3/15/28		80,000		84,206
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.050	%		3/30/29		220,000		246,332
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		4/1/38		180,000		201,388
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.834	%		10/23/55		30,000		37,961
Comcast Corp., Senior Notes		3.375	%		8/15/25		30,000		31,749
Comcast Corp., Senior Notes		3.950	%		10/15/25		160,000		174,287
Comcast Corp., Senior Notes		3.150	%		3/1/26		40,000		41,916
Comcast Corp., Senior Notes		4.150	%		10/15/28		470,000		527,643
Comcast Corp., Senior Notes		4.250	%		10/15/30		50,000		56,922
Comcast Corp., Senior Notes		3.999	%		11/1/49		165,000		183,547
DISH DBS Corp., Senior Notes		5.875	%		11/15/24		100,000		99,500
DISH DBS Corp., Senior Notes		7.750	%		7/1/26		20,000		20,400
Fox Corp., Senior Notes		4.709	%		1/25/29		30,000		34,294	(b)
Fox Corp., Senior Notes		5.476	%		1/25/39		40,000		49,110	(b)
Prosus NV, Senior Notes		4.850	%		7/6/27		290,000		321,364	(b)
Time Warner Cable LLC, Senior Secured Notes		6.550	%		5/1/37		200,000		240,461
Time Warner Cable LLC, Senior Secured Notes		7.300	%		7/1/38		10,000		12,665
Time Warner Cable LLC, Senior Secured Notes		5.875	%		11/15/40		90,000		100,842
Virgin Media Secured Finance PLC, Senior Secured Notes		5.250	%		1/15/26		200,000		205,724	(b)
Total Media									3,436,309

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Wireless Telecommunication Services - 0.2%
Sprint Communications Inc., Senior Notes		7.000	%		3/1/20		120,000	$	122,250	(b)
Sprint Corp., Senior Notes		7.250	%		9/15/21		60,000		64,176
Sprint Corp., Senior Notes		7.625	%		2/15/25		40,000		44,100
Vodafone Group PLC, Senior Notes		4.375	%		5/30/28		190,000		210,031
Total Wireless Telecommunication Services									440,557
TOTAL COMMUNICATION SERVICES									5,919,252
CONSUMER DISCRETIONARY - 1.6%
Automobiles - 0.6%
BMW US Capital LLC, Senior Notes		1.850	%		9/15/21		20,000		19,915	(b)
Ford Motor Co., Senior Notes		4.750	%		1/15/43		50,000		43,546
Ford Motor Credit Co. LLC, Senior Notes		3.200	%		1/15/21		200,000		200,322
General Motors Financial Co. Inc., Senior Notes		2.450	%		11/6/20		50,000		49,985
General Motors Financial Co. Inc., Senior Notes		4.375	%		9/25/21		990,000		1,023,096
Total Automobiles									1,336,864
Diversified Consumer Services - 0.0%
Prime Security Services Borrower LLC/Prime Finance Inc., Senior Secured Notes		5.750	%		4/15/26		70,000		73,066	(b)
Hotels, Restaurants & Leisure - 0.7%
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		4.250	%		5/15/24		60,000		61,896	(b)
GLP Capital LP/GLP Financing II Inc., Senior Notes		5.375	%		11/1/23		130,000		141,114
Hilton Domestic Operating Co. Inc., Senior Notes		5.125	%		5/1/26		30,000		31,575
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., Senior Notes		4.625	%		4/1/25		10,000		10,325
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., Senior Notes		4.875	%		4/1/27		30,000		31,710
Las Vegas Sands Corp., Senior Notes		3.200	%		8/8/24		330,000		336,486
McDonald’s Corp., Senior Notes		3.700	%		1/30/26		230,000		247,066
NCL Corp. Ltd., Senior Notes		4.750	%		12/15/21		129,000		131,528	(b)
Sands China Ltd., Senior Notes		5.125	%		8/8/25		400,000		440,168
VOC Escrow Ltd., Senior Secured Notes		5.000	%		2/15/28		80,000		83,008	(b)
Total Hotels, Restaurants & Leisure									1,514,876
Household Durables - 0.1%
Lennar Corp., Senior Notes		4.500	%		4/30/24		50,000		52,800
Lennar Corp., Senior Notes		5.250	%		6/1/26		10,000		10,850
Lennar Corp., Senior Notes		5.000	%		6/15/27		20,000		21,475

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Household Durables - (continued)
Lennar Corp., Senior Notes		4.750	%		11/29/27		50,000	$	53,875
Newell Brands Inc., Senior Notes		3.850	%		4/1/23		47,000		48,412
Newell Brands Inc., Senior Notes		4.200	%		4/1/26		10,000		10,471
Toll Brothers Finance Corp., Senior Notes		4.375	%		4/15/23		40,000		42,100
Total Household Durables									239,983
Internet & Direct Marketing Retail - 0.2%
Amazon.com Inc., Senior Notes		3.150	%		8/22/27		130,000		138,218
Amazon.com Inc., Senior Notes		3.875	%		8/22/37		60,000		69,135
Amazon.com Inc., Senior Notes		4.950	%		12/5/44		120,000		159,049
Amazon.com Inc., Senior Notes		4.050	%		8/22/47		90,000		108,289
Total Internet & Direct Marketing Retail									474,691
Textiles, Apparel & Luxury Goods - 0.0%
Hanesbrands Inc., Senior Notes		4.625	%		5/15/24		10,000		10,575	(b)
Hanesbrands Inc., Senior Notes		4.875	%		5/15/26		50,000		53,075	(b)
Total Textiles, Apparel & Luxury Goods									63,650
TOTAL CONSUMER DISCRETIONARY									3,703,130
CONSUMER STAPLES - 1.9%
Beverages - 0.7%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.650	%		2/1/26		260,000		278,758
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.900	%		2/1/46		290,000		346,576
Anheuser-Busch InBev Finance Inc., Senior Notes		2.650	%		2/1/21		74,000		74,721
Anheuser-Busch InBev Finance Inc., Senior Notes		3.300	%		2/1/23		108,000		112,193
Anheuser-Busch InBev Worldwide Inc., Senior Notes		2.500	%		7/15/22		160,000		162,288
Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.500	%		1/12/24		10,000		10,562
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.150	%		1/23/25		120,000		131,147
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.000	%		4/13/28		80,000		88,303
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.750	%		1/23/29		280,000		325,689
Constellation Brands Inc., Senior Notes		4.750	%		11/15/24		90,000		99,468
Cott Holdings Inc., Senior Notes		5.500	%		4/1/25		60,000		62,477	(b)
Total Beverages									1,692,182

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Food & Staples Retailing - 0.1%
Walmart Inc., Senior Notes		3.700	%		6/26/28		220,000	$	244,023
Food Products - 0.3%
Danone SA, Senior Notes		2.589	%		11/2/23		420,000		426,038	(b)
Kraft Heinz Foods Co., Senior Notes		3.950	%		7/15/25		20,000		20,950
Kraft Heinz Foods Co., Senior Notes		5.000	%		7/15/35		20,000		21,360
Kraft Heinz Foods Co., Senior Notes		5.200	%		7/15/45		40,000		42,117
Lamb Weston Holdings Inc., Senior Notes		4.875	%		11/1/26		70,000		73,675	(b)
Total Food Products									584,140
Tobacco - 0.8%
Altria Group Inc., Senior Notes		3.490	%		2/14/22		50,000		51,313
Altria Group Inc., Senior Notes		2.850	%		8/9/22		130,000		131,599
Altria Group Inc., Senior Notes		3.800	%		2/14/24		60,000		62,763
Altria Group Inc., Senior Notes		4.400	%		2/14/26		60,000		64,210
Altria Group Inc., Senior Notes		4.800	%		2/14/29		180,000		197,339
Altria Group Inc., Senior Notes		5.950	%		2/14/49		30,000		35,328
BAT Capital Corp., Senior Notes		3.557	%		8/15/27		480,000		483,927
BAT Capital Corp., Senior Notes		4.540	%		8/15/47		180,000		172,853
Philip Morris International Inc., Senior Notes		1.875	%		11/1/19		190,000		189,964
Philip Morris International Inc., Senior Notes		2.900	%		11/15/21		30,000		30,486
Philip Morris International Inc., Senior Notes		2.500	%		8/22/22		190,000		191,874
Philip Morris International Inc., Senior Notes		2.500	%		11/2/22		140,000		141,298
Philip Morris International Inc., Senior Notes		4.500	%		3/20/42		10,000		11,122
Reynolds American Inc., Senior Notes		3.250	%		6/12/20		12,000		12,077
Reynolds American Inc., Senior Notes		5.850	%		8/15/45		80,000		88,660
Total Tobacco									1,864,813
TOTAL CONSUMER STAPLES									4,385,158
ENERGY - 4.1%
Energy Equipment & Services - 0.1%
Halliburton Co., Senior Notes		3.800	%		11/15/25		110,000		116,603
Halliburton Co., Senior Notes		4.850	%		11/15/35		20,000		22,118
Halliburton Co., Senior Notes		5.000	%		11/15/45		10,000		11,184
Total Energy Equipment & Services									149,905

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - 4.0%
Apache Corp., Senior Notes		4.375	%		10/15/28		180,000	$	184,488
Apache Corp., Senior Notes		5.100	%		9/1/40		170,000		169,733
Apache Corp., Senior Notes		4.250	%		1/15/44		90,000		80,285
Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes		6.125	%		11/15/22		50,000		50,515	(b)
BP Capital Markets America Inc., Senior Notes		3.216	%		11/28/23		80,000		83,146
BP Capital Markets America Inc., Senior Notes		3.410	%		2/11/26		230,000		242,932
BP Capital Markets PLC, Senior Notes		3.535	%		11/4/24		40,000		42,419
BP Capital Markets PLC, Senior Notes		3.506	%		3/17/25		190,000		201,755
Cheniere Corpus Christi Holdings LLC, Senior Secured Notes		5.125	%		6/30/27		40,000		43,875
Chesapeake Energy Corp., Senior Notes		5.375	%		6/15/21		70,000		65,450
Chevron Corp., Senior Notes		2.954	%		5/16/26		30,000		31,396
Cimarex Energy Co., Senior Notes		4.375	%		6/1/24		10,000		10,514
Cimarex Energy Co., Senior Notes		3.900	%		5/15/27		130,000		132,471
CNOOC Finance 2015 USA LLC, Senior Notes		3.500	%		5/5/25		490,000		511,594
Concho Resources Inc., Senior Notes		4.375	%		1/15/25		30,000		31,098
Concho Resources Inc., Senior Notes		3.750	%		10/1/27		20,000		20,805
Concho Resources Inc., Senior Notes		4.300	%		8/15/28		120,000		129,351
Continental Resources Inc., Senior Notes		3.800	%		6/1/24		50,000		51,004
Continental Resources Inc., Senior Notes		4.375	%		1/15/28		70,000		72,417
Devon Energy Corp., Senior Notes		5.850	%		12/15/25		100,000		118,942
Devon Energy Corp., Senior Notes		5.600	%		7/15/41		10,000		12,158
Devon Energy Corp., Senior Notes		5.000	%		6/15/45		180,000		208,437
Diamondback Energy Inc., Senior Notes		5.375	%		5/31/25		40,000		41,842
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		180,000		210,602
Energy Transfer Operating LP, Senior Notes		4.950	%		6/15/28		30,000		32,998
Energy Transfer Operating LP, Senior Notes		6.250	%		4/15/49		10,000		12,161
Enterprise Products Operating LLC, Senior Notes		4.150	%		10/16/28		170,000		188,419
EOG Resources Inc., Senior Notes		4.150	%		1/15/26		30,000		33,203
Exxon Mobil Corp., Senior Notes		3.043	%		3/1/26		90,000		94,383
Exxon Mobil Corp., Senior Notes		4.114	%		3/1/46		40,000		47,418
KazMunayGas National Co. JSC, Senior Notes		5.375	%		4/24/30		200,000		225,225	(b)
Kinder Morgan Energy Partners LP, Senior Notes		3.500	%		3/1/21		40,000		40,615

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Kinder Morgan Energy Partners LP, Senior Notes		3.500	%		9/1/23		70,000	$	72,470
Kinder Morgan Energy Partners LP, Senior Notes		4.250	%		9/1/24		10,000		10,729
Kinder Morgan Inc., Senior Notes		7.750	%		1/15/32		60,000		82,663
MPLX LP, Senior Notes		4.800	%		2/15/29		10,000		11,049
MPLX LP, Senior Notes		4.500	%		4/15/38		120,000		124,596
MPLX LP, Senior Notes		4.700	%		4/15/48		140,000		146,363
MPLX LP, Senior Notes		5.500	%		2/15/49		80,000		92,913
Noble Energy Inc., Senior Notes		4.150	%		12/15/21		150,000		155,871
Noble Energy Inc., Senior Notes		4.950	%		8/15/47		30,000		32,792
Oasis Petroleum Inc., Senior Notes		6.875	%		3/15/22		60,000		56,250
Oasis Petroleum Inc., Senior Notes		6.875	%		1/15/23		65,000		59,800
Occidental Petroleum Corp., Senior Notes		4.850	%		3/15/21		32,000		33,101
Occidental Petroleum Corp., Senior Notes		2.600	%		8/13/21		70,000		70,482
Occidental Petroleum Corp., Senior Notes		2.700	%		8/15/22		100,000		100,972
Occidental Petroleum Corp., Senior Notes		6.950	%		7/1/24		220,000		258,224
Occidental Petroleum Corp., Senior Notes		2.900	%		8/15/24		80,000		80,688
Occidental Petroleum Corp., Senior Notes		5.550	%		3/15/26		20,000		22,574
Occidental Petroleum Corp., Senior Notes		3.400	%		4/15/26		90,000		91,472
Occidental Petroleum Corp., Senior Notes		3.000	%		2/15/27		60,000		59,578
Occidental Petroleum Corp., Senior Notes		3.500	%		8/15/29		40,000		40,601
Occidental Petroleum Corp., Senior Notes		7.875	%		9/15/31		70,000		94,602
Occidental Petroleum Corp., Senior Notes		6.450	%		9/15/36		190,000		235,358
Occidental Petroleum Corp., Senior Notes		6.200	%		3/15/40		70,000		84,494
Occidental Petroleum Corp., Senior Notes		4.625	%		6/15/45		70,000		72,514
Occidental Petroleum Corp., Senior Notes		6.600	%		3/15/46		30,000		39,179
Occidental Petroleum Corp., Senior Notes		4.400	%		4/15/46		40,000		40,806
Occidental Petroleum Corp., Senior Notes		4.100	%		2/15/47		110,000		107,423
Occidental Petroleum Corp., Senior Notes		4.200	%		3/15/48		50,000		49,622
Petrobras Global Finance BV, Senior Notes		5.299	%		1/27/25		644,000		704,536
Petrobras Global Finance BV, Senior Notes		7.375	%		1/17/27		430,000		520,218
Petrobras Global Finance BV, Senior Notes		5.750	%		2/1/29		170,000		187,915
Petrobras Global Finance BV, Senior Notes		6.900	%		3/19/49		30,000		34,470
Petrobras Global Finance BV, Senior Notes		6.850	%		6/5/2115		90,000		103,230
Petroleos Mexicanos, Senior Notes		6.875	%		8/4/26		250,000		269,375
Range Resources Corp., Senior Notes		5.000	%		3/15/23		150,000		131,625
Range Resources Corp., Senior Notes		4.875	%		5/15/25		40,000		33,200

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Sabine Pass Liquefaction LLC, Senior Secured Notes		5.750	%		5/15/24		110,000	$	122,679
Shell International Finance BV, Senior Notes		2.875	%		5/10/26		240,000		249,963
Shell International Finance BV, Senior Notes		4.550	%		8/12/43		10,000		12,313
Shell International Finance BV, Senior Notes		4.375	%		5/11/45		160,000		193,624
Shell International Finance BV, Senior Notes		4.000	%		5/10/46		40,000		46,119
Southern Natural Gas Co. LLC, Senior Notes		8.000	%		3/1/32		50,000		70,431
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.250	%		11/15/23		30,000		30,338
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.875	%		4/15/26		30,000		31,904
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		6.500	%		7/15/27		40,000		43,744	(b)
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		6.875	%		1/15/29		20,000		21,901	(b)
Williams Cos. Inc., Senior Notes		5.250	%		3/15/20		50,000		50,658
Williams Cos. Inc., Senior Notes		7.875	%		9/1/21		110,000		121,136
Williams Cos. Inc., Senior Notes		3.700	%		1/15/23		50,000		51,738
Williams Cos. Inc., Senior Notes		7.500	%		1/15/31		30,000		39,443
Williams Cos. Inc., Senior Notes		7.750	%		6/15/31		240,000		318,398
WPX Energy Inc., Senior Notes		6.000	%		1/15/22		10,000		10,350
WPX Energy Inc., Senior Notes		8.250	%		8/1/23		70,000		79,100
Total Oil, Gas & Consumable Fuels									9,227,245
TOTAL ENERGY									9,377,150
FINANCIALS - 12.9%
Banks - 9.2%
Banco Santander SA, Senior Notes		3.848	%		4/12/23		200,000		208,552
Banco Santander SA, Senior Notes		4.379	%		4/12/28		400,000		437,936
Bank of America Corp., Senior Notes		3.300	%		1/11/23		90,000		93,044
Bank of America Corp., Senior Notes		3.500	%		4/19/26		150,000		159,382

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Bank of America Corp., Senior Notes (3.004% to 12/20/22 then 3 mo. USD LIBOR + 0.790%)		3.004	%		12/20/23		393,000	$	401,567	(c)
Bank of America Corp., Senior Notes (3.419% to 12/20/27 then 3 mo. USD LIBOR + 1.040%)		3.419	%		12/20/28		1,061,000		1,109,022	(c)
Bank of America Corp., Senior Notes (3.550% to 3/5/23 then 3 mo. USD LIBOR + 0.780%)		3.550	%		3/5/24		190,000		197,562	(c)
Bank of America Corp., Senior Notes (3.593% to 7/21/27 then 3 mo. USD LIBOR + 1.370%)		3.593	%		7/21/28		130,000		137,356	(c)
Bank of America Corp., Senior Notes (3.946% to 1/23/48 then 3 mo. USD LIBOR + 1.190%)		3.946	%		1/23/49		50,000		56,230	(c)
Bank of America Corp., Senior Notes (3.974% to 2/7/29 then 3 mo. USD LIBOR + 1.210%)		3.974	%		2/7/30		110,000		120,304	(c)
Bank of America Corp., Subordinated Notes		4.000	%		1/22/25		130,000		138,131
Bank of America Corp., Subordinated Notes		4.450	%		3/3/26		40,000		43,626
Bank of America Corp., Subordinated Notes		4.250	%		10/22/26		260,000		280,964
Bank of Montreal, Subordinated Notes (3.803% to 12/15/27 then USD 5 year ICE Swap Rate + 1.432%)		3.803	%		12/15/32		30,000		31,141	(c)
Barclays Bank PLC, Subordinated Notes		7.625	%		11/21/22		1,010,000		1,114,247
BNP Paribas SA, Senior Notes		4.400	%		8/14/28		410,000		453,278	(b)
BNP Paribas SA, Senior Notes (4.705% to 1/10/24 then 3 mo. USD LIBOR + 2.235%)		4.705	%		1/10/25		360,000		389,356	(b)(c)
BNP Paribas SA, Senior Notes (5.198% to 1/10/29 then 3 mo. USD LIBOR + 2.567%)		5.198	%		1/10/30		400,000		468,488	(b)(c)
BNP Paribas SA, Subordinated Notes		4.625	%		3/13/27		200,000		217,070	(b)
CIT Group Inc., Senior Notes		4.750	%		2/16/24		60,000		63,647
CIT Group Inc., Senior Notes		5.250	%		3/7/25		60,000		65,550
Citigroup Inc., Junior Subordinated Notes (5.950% to 5/15/25 then 3 mo. USD LIBOR + 3.905%)		5.950	%		5/15/25		50,000		52,981	(c)(d)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Citigroup Inc., Junior Subordinated Notes (6.300% to 5/15/24 then 3 mo. USD LIBOR + 3.423%)		6.300	%		5/15/24		30,000	$	31,891	(c)(d)
Citigroup Inc., Senior Notes		8.125	%		7/15/39		37,000		60,738
Citigroup Inc., Senior Notes		4.650	%		7/30/45		145,000		174,933
Citigroup Inc., Subordinated Notes		3.500	%		5/15/23		20,000		20,747
Citigroup Inc., Subordinated Notes		4.400	%		6/10/25		10,000		10,772
Citigroup Inc., Subordinated Notes		4.300	%		11/20/26		80,000		86,251
Citigroup Inc., Subordinated Notes		4.450	%		9/29/27		660,000		720,719
Citigroup Inc., Subordinated Notes		4.125	%		7/25/28		170,000		182,601
Citigroup Inc., Subordinated Notes		5.300	%		5/6/44		13,000		16,184
Citigroup Inc., Subordinated Notes		4.750	%		5/18/46		70,000		81,760
Cooperatieve Rabobank UA, Senior Notes		4.625	%		12/1/23		390,000		418,928
Cooperatieve Rabobank UA, Senior Notes		4.375	%		8/4/25		250,000		270,200
Credit Agricole SA, Junior Subordinated Notes (8.375% to 10/13/19 then 3 mo. USD LIBOR + 6.982%)		8.375	%		10/13/19		680,000		684,488	(b)(c)(d)
Danske Bank A/S, Senior Notes		5.000	%		1/12/22		200,000		210,340	(b)
Danske Bank A/S, Senior Notes (3.001% to 9/20/21 then 3 mo. USD LIBOR + 1.249%)		3.001	%		9/20/22		200,000		200,790	(b)(c)
Danske Bank A/S, Senior Notes (3.244% to 12/20/24 then 3 mo. USD LIBOR + 1.591%)		3.244	%		12/20/25		200,000		201,751	(b)(c)
HSBC Holdings PLC, Junior Subordinated Notes (6.500% to 3/23/28 then USD 5 year ICE Swap Rate + 3.606%)		6.500	%		3/23/28		200,000		209,370	(c)(d)
HSBC Holdings PLC, Senior Notes		3.400	%		3/8/21		280,000		284,485
HSBC Holdings PLC, Senior Notes		3.900	%		5/25/26		420,000		444,938
HSBC Holdings PLC, Senior Notes (3.973% to 5/22/29 then 3 mo. USD LIBOR + 1.610%)		3.973	%		5/22/30		250,000		267,138	(c)
HSBC Holdings PLC, Senior Notes (4.583% to 6/19/28 then 3 mo. USD LIBOR + 1.535%)		4.583	%		6/19/29		400,000		443,367	(c)
Intesa Sanpaolo SpA, Senior Notes		3.125	%		7/14/22		200,000		200,850	(b)
Intesa Sanpaolo SpA, Senior Notes		3.375	%		1/12/23		200,000		201,787	(b)
Intesa Sanpaolo SpA, Subordinated Notes		5.017	%		6/26/24		1,070,000		1,101,858	(b)
JPMorgan Chase & Co., Senior Notes		4.250	%		10/15/20		350,000		358,195
JPMorgan Chase & Co., Senior Notes		2.550	%		3/1/21		40,000		40,235

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
JPMorgan Chase & Co., Senior Notes (3.509% to 1/23/28 then 3 mo. USD LIBOR + 0.945%)		3.509	%		1/23/29		400,000	$	423,151	(c)
JPMorgan Chase & Co., Senior Notes (4.023% to 12/5/23 then 3 mo. USD LIBOR + 1.000%)		4.023	%		12/5/24		320,000		341,390	(c)
JPMorgan Chase & Co., Senior Notes (4.203% to 7/23/28 then 3 mo. USD LIBOR + 1.260%)		4.203	%		7/23/29		140,000		155,283	(c)
JPMorgan Chase & Co., Senior Notes (4.452% to 12/5/28 then 3 mo. USD LIBOR + 1.330%)		4.452	%		12/5/29		60,000		67,877	(c)
JPMorgan Chase & Co., Subordinated Notes		3.875	%		9/10/24		60,000		63,883
JPMorgan Chase & Co., Subordinated Notes		4.250	%		10/1/27		50,000		54,979
JPMorgan Chase & Co., Subordinated Notes		4.950	%		6/1/45		170,000		212,052
Lloyds Banking Group PLC, Senior Notes		4.375	%		3/22/28		200,000		217,687
Lloyds Banking Group PLC, Senior Notes (3.574% to 11/7/27 then 3 mo. USD LIBOR + 1.205%)		3.574	%		11/7/28		200,000		204,259	(c)
Lloyds Banking Group PLC, Subordinated Notes		4.500	%		11/4/24		210,000		219,377
NatWest Markets NV, Subordinated Notes		7.750	%		5/15/23		100,000		114,080
Nordea Bank Abp, Subordinated Notes		4.875	%		5/13/21		530,000		548,614	(b)
Royal Bank of Canada, Senior Notes		2.150	%		10/26/20		100,000		100,195
Royal Bank of Canada, Senior Notes		3.200	%		4/30/21		110,000		112,101
Royal Bank of Scotland Group PLC, Senior Notes (4.519% to 6/25/23 then 3 mo. USD LIBOR + 1.550%)		4.519	%		6/25/24		200,000		210,439	(c)
Royal Bank of Scotland Group PLC, Subordinated Notes		6.000	%		12/19/23		130,000		142,818
Royal Bank of Scotland Group PLC, Subordinated Notes		5.125	%		5/28/24		630,000		672,081
Santander Holdings USA Inc., Senior Notes		4.500	%		7/17/25		70,000		75,154
Santander UK PLC, Senior Notes		2.375	%		3/16/20		60,000		60,054
Sumitomo Mitsui Financial Group Inc., Senior Notes		2.058	%		7/14/21		290,000		289,218
Svenska Handelsbanken AB, Senior Notes		3.350	%		5/24/21		250,000		255,314

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Toronto-Dominion Bank, Senior Notes		3.250	%		6/11/21		130,000	$	132,770
UniCredit SpA, Senior Notes		6.572	%		1/14/22		430,000		461,402	(b)
US Bank NA, Senior Notes		3.150	%		4/26/21		250,000		254,150
Wachovia Capital Trust III Ltd., Junior Subordinated Bonds (the greater of 3 mo. USD LIBOR + 0.930% or 5.570%)		5.570	%		10/31/19		320,000		321,686	(c)(d)
Wells Fargo & Co., Senior Notes		3.750	%		1/24/24		60,000		63,528
Wells Fargo & Co., Senior Notes		3.000	%		10/23/26		190,000		195,301
Wells Fargo & Co., Senior Notes		4.150	%		1/24/29		210,000		233,039
Wells Fargo & Co., Subordinated Notes		4.100	%		6/3/26		50,000		53,601
Wells Fargo & Co., Subordinated Notes		4.300	%		7/22/27		500,000		548,265
Wells Fargo & Co., Subordinated Notes		4.650	%		11/4/44		320,000		370,297
Wells Fargo & Co., Subordinated Notes		4.900	%		11/17/45		300,000		357,259
Wells Fargo & Co., Subordinated Notes		4.400	%		6/14/46		40,000		44,985
Wells Fargo & Co., Subordinated Notes		4.750	%		12/7/46		270,000		319,217
Westpac Banking Corp., Senior Notes		2.300	%		5/26/20		20,000		20,039
Westpac Banking Corp., Senior Notes		2.600	%		11/23/20		110,000		110,742
Total Banks									21,191,037
Capital Markets - 1.9%
Credit Suisse Group Funding Guernsey Ltd., Senior Notes		4.550	%		4/17/26		250,000		274,718
Goldman Sachs Group Inc., Senior Notes		2.600	%		4/23/20		50,000		50,098
Goldman Sachs Group Inc., Senior Notes		5.250	%		7/27/21		300,000		316,253
Goldman Sachs Group Inc., Senior Notes		3.200	%		2/23/23		100,000		102,741
Goldman Sachs Group Inc., Senior Notes		3.850	%		7/8/24		40,000		42,370
Goldman Sachs Group Inc., Senior Notes		3.500	%		1/23/25		190,000		198,195
Goldman Sachs Group Inc., Senior Notes		3.500	%		11/16/26		100,000		103,965
Goldman Sachs Group Inc., Senior Notes		6.250	%		2/1/41		100,000		138,275
Goldman Sachs Group Inc., Senior Notes		4.750	%		10/21/45		170,000		204,264
Goldman Sachs Group Inc., Senior Notes (3.691% to 6/5/27 then 3 mo. USD LIBOR + 1.510%)		3.691	%		6/5/28		280,000		293,931	(c)
Goldman Sachs Group Inc., Senior Notes (3.814% to 4/23/28 then 3 mo. USD LIBOR + 1.158%)		3.814	%		4/23/29		60,000		63,754	(c)
Goldman Sachs Group Inc., Senior Notes (4.223% to 5/1/28 then 3 mo. USD LIBOR + 1.301%)		4.223	%		5/1/29		260,000		284,040	(c)
Goldman Sachs Group Inc., Subordinated Notes		4.250	%		10/21/25		200,000		214,192

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Capital Markets - (continued)
Goldman Sachs Group Inc., Subordinated Notes		6.750	%		10/1/37		190,000		$	256,803
Goldman Sachs Group Inc., Subordinated Notes		5.150	%		5/22/45		250,000			297,128
Morgan Stanley, Senior Notes (3.772% to 1/24/28 then 3 mo. USD LIBOR + 1.140%)		3.772	%		1/24/29		380,000			406,455	(c)
Morgan Stanley, Senior Notes (4.431% to 1/23/29 then 3 mo. USD LIBOR + 1.628%)		4.431	%		1/23/30		20,000			22,481	(c)
UBS Group Funding Switzerland AG, Junior Subordinated Notes (7.000% to 1/31/24 then USD 5 year ICE Swap Rate + 4.344%)		7.000	%		1/31/24		350,000			372,137	(b)(c)(d)
UBS Group Funding Switzerland AG, Senior Notes		3.491	%		5/23/23		300,000			308,099	(b)
UBS Group Funding Switzerland AG, Senior Notes		4.253	%		3/23/28		300,000			327,484	(b)
Total Capital Markets										4,277,383
Consumer Finance - 0.0%
American Express Credit Corp., Senior Notes		2.375	%		5/26/20		110,000			110,155
Diversified Financial Services - 1.3%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		4.500	%		5/15/21		220,000			227,187
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		5.000	%		10/1/21		150,000			157,756
DAE Funding LLC, Senior Notes		5.750	%		11/15/23		30,000			31,601	(b)
GE Capital International Funding Co. Unlimited Co., Senior Notes		2.342	%		11/15/20		202,000			201,567
International Lease Finance Corp., Senior Notes		8.250	%		12/15/20		90,000			96,318
International Lease Finance Corp., Senior Notes		8.625	%		1/15/22		90,000			102,182
International Lease Finance Corp., Senior Notes		5.875	%		8/15/22		30,000			32,879
Magnolia Finance X Ltd., 2015-3GNA A1 (3 mo. GBP LIBOR + 2.483%)		3.303	%		3/12/20		1,178,881	GBP		1,407,458	(b)(c)(e)(f)
Magnolia Finance X Ltd., 2015-3GNA A2 (3 mo. GBP LIBOR + 3.750%)		4.573	%		3/12/20		354,623	GBP		423,382	(b)(c)(e)(f)
Park Aerospace Holdings Ltd., Senior Notes		5.250	%		8/15/22		90,000			95,076	(b)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Financial Services - (continued)
Park Aerospace Holdings Ltd., Senior Notes		4.500	%		3/15/23		10,000	$	10,373	(b)
Park Aerospace Holdings Ltd., Senior Notes		5.500	%		2/15/24		50,000		54,082	(b)
Syngenta Finance NV, Senior Notes		3.933	%		4/23/21		200,000		203,722	(b)
Total Diversified Financial Services									3,043,583
Insurance - 0.5%
American International Group Inc., Senior Notes		3.750	%		7/10/25		130,000		137,460
Berkshire Hathaway Finance Corp., Senior Notes		4.250	%		1/15/49		190,000		225,275
Chubb INA Holdings Inc., Senior Notes		2.300	%		11/3/20		40,000		40,136
Reliance Standard Life Global Funding II, Senior Secured Notes		2.500	%		1/15/20		40,000		40,031	(b)
Teachers Insurance & Annuity Association of America, Subordinated Notes		6.850	%		12/16/39		8,000		11,841	(b)
Teachers Insurance & Annuity Association of America, Subordinated Notes		4.900	%		9/15/44		530,000		659,805	(b)
Total Insurance									1,114,548
TOTAL FINANCIALS									29,736,706
HEALTH CARE - 3.0%
Biotechnology - 0.3%
AbbVie Inc., Senior Notes		3.600	%		5/14/25		90,000		93,681
Amgen Inc., Senior Notes		2.125	%		5/1/20		20,000		19,995
Amgen Inc., Senior Notes		4.663	%		6/15/51		29,000		34,007
Celgene Corp., Senior Notes		2.250	%		8/15/21		100,000		100,034
Celgene Corp., Senior Notes		5.000	%		8/15/45		110,000		138,123
Gilead Sciences Inc., Senior Notes		2.550	%		9/1/20		30,000		30,150
Gilead Sciences Inc., Senior Notes		3.500	%		2/1/25		50,000		52,822
Gilead Sciences Inc., Senior Notes		3.650	%		3/1/26		100,000		107,266
Gilead Sciences Inc., Senior Notes		4.750	%		3/1/46		100,000		119,204
Total Biotechnology									695,282
Health Care Equipment & Supplies - 0.2%
Abbott Laboratories, Senior Notes		3.750	%		11/30/26		56,000		61,057
Abbott Laboratories, Senior Notes		4.750	%		11/30/36		80,000		97,953
Abbott Laboratories, Senior Notes		4.900	%		11/30/46		80,000		103,347
Becton Dickinson and Co., Senior Notes		3.363	%		6/6/24		200,000		208,753
Becton Dickinson and Co., Senior Notes		3.734	%		12/15/24		31,000		32,822

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Equipment & Supplies - (continued)
Becton Dickinson and Co., Senior Notes		4.685	%		12/15/44		8,000	$	9,301
Medtronic Inc., Senior Notes		3.500	%		3/15/25		74,000		79,483
Total Health Care Equipment & Supplies									592,716
Health Care Providers & Services - 1.9%
Aetna Inc., Senior Notes		2.800	%		6/15/23		30,000		30,382
Anthem Inc., Senior Notes		2.950	%		12/1/22		160,000		163,176
Anthem Inc., Senior Notes		3.350	%		12/1/24		50,000		52,021
Anthem Inc., Senior Notes		3.650	%		12/1/27		110,000		115,686
Centene Corp., Senior Notes		5.625	%		2/15/21		40,000		40,588
Centene Corp., Senior Notes		4.750	%		5/15/22		70,000		71,676
Centene Corp., Senior Notes		6.125	%		2/15/24		70,000		72,901
Centene Corp., Senior Notes		5.375	%		6/1/26		10,000		10,488	(b)
Cigna Corp., Senior Notes		3.400	%		9/17/21		90,000		92,065
Cigna Corp., Senior Notes		3.750	%		7/15/23		230,000		241,059
Cigna Corp., Senior Notes		4.125	%		11/15/25		70,000		75,258
Cigna Corp., Senior Notes		4.375	%		10/15/28		160,000		175,150
CVS Health Corp., Senior Notes		3.350	%		3/9/21		43,000		43,700
CVS Health Corp., Senior Notes		2.750	%		12/1/22		60,000		60,742
CVS Health Corp., Senior Notes		3.700	%		3/9/23		350,000		364,558
CVS Health Corp., Senior Notes		4.100	%		3/25/25		130,000		138,990
CVS Health Corp., Senior Notes		3.875	%		7/20/25		160,000		169,421
CVS Health Corp., Senior Notes		4.300	%		3/25/28		870,000		941,548
CVS Health Corp., Senior Notes		5.125	%		7/20/45		150,000		170,284
HCA Inc., Senior Notes		5.375	%		9/1/26		80,000		88,096
HCA Inc., Senior Notes		5.625	%		9/1/28		100,000		111,680
HCA Inc., Senior Secured Notes		5.250	%		4/15/25		30,000		33,408
HCA Inc., Senior Secured Notes		5.250	%		6/15/26		30,000		33,450
HCA Inc., Senior Secured Notes		4.500	%		2/15/27		40,000		42,951
HCA Inc., Senior Secured Notes		5.500	%		6/15/47		70,000		78,816
Humana Inc., Senior Notes		3.950	%		3/15/27		390,000		414,279
UnitedHealth Group Inc., Senior Notes		2.700	%		7/15/20		100,000		100,576
UnitedHealth Group Inc., Senior Notes		2.875	%		12/15/21		60,000		61,169
UnitedHealth Group Inc., Senior Notes		3.750	%		7/15/25		100,000		107,607
UnitedHealth Group Inc., Senior Notes		3.875	%		12/15/28		40,000		44,076
UnitedHealth Group Inc., Senior Notes		3.700	%		8/15/49		100,000		106,165
UnitedHealth Group Inc., Senior Notes		3.875	%		8/15/59		50,000		53,183
Total Health Care Providers & Services									4,305,149

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - 0.6%
Allergan Funding SCS, Senior Notes		3.800	%		3/15/25		170,000	$	178,129
Bristol-Myers Squibb Co., Senior Notes		2.600	%		5/16/22		110,000		111,558	(b)
Bristol-Myers Squibb Co., Senior Notes		2.900	%		7/26/24		230,000		237,274	(b)
Bristol-Myers Squibb Co., Senior Notes		3.200	%		6/15/26		160,000		167,992	(b)
Bristol-Myers Squibb Co., Senior Notes		3.400	%		7/26/29		90,000		96,214	(b)
Eli Lilly & Co., Senior Notes		3.100	%		5/15/27		20,000		21,048
Teva Pharmaceutical Finance Co. BV, Senior Notes		3.650	%		11/10/21		20,000		18,575
Teva Pharmaceutical Finance Co. BV, Senior Notes		2.950	%		12/18/22		10,000		8,613
Teva Pharmaceutical Finance IV BV, Senior Notes		3.650	%		11/10/21		30,000		27,788
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		2.200	%		7/21/21		350,000		321,562
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		2.800	%		7/21/23		110,000		89,100
Wyeth LLC, Senior Notes		5.950	%		4/1/37		10,000		13,600
Total Pharmaceuticals									1,291,453
TOTAL HEALTH CARE									6,884,600
INDUSTRIALS - 2.1%
Aerospace & Defense - 0.7%
Boeing Co., Senior Notes		4.875	%		2/15/20		160,000		161,501
Boeing Co., Senior Notes		3.100	%		5/1/26		20,000		20,966
Boeing Co., Senior Notes		2.700	%		2/1/27		40,000		40,716
Boeing Co., Senior Notes		2.800	%		3/1/27		50,000		51,089
Boeing Co., Senior Notes		3.200	%		3/1/29		130,000		136,598
Boeing Co., Senior Notes		3.250	%		2/1/35		190,000		197,234
Boeing Co., Senior Notes		3.750	%		2/1/50		60,000		64,981
Lockheed Martin Corp., Senior Notes		3.100	%		1/15/23		10,000		10,316
Lockheed Martin Corp., Senior Notes		3.550	%		1/15/26		110,000		118,024
Lockheed Martin Corp., Senior Notes		4.500	%		5/15/36		30,000		36,078
Northrop Grumman Corp., Senior Notes		2.930	%		1/15/25		150,000		154,729
Northrop Grumman Corp., Senior Notes		3.250	%		1/15/28		280,000		294,116
United Technologies Corp., Senior Notes		3.950	%		8/16/25		150,000		164,455
United Technologies Corp., Senior Notes		4.125	%		11/16/28		100,000		113,232
United Technologies Corp., Senior Notes		4.500	%		6/1/42		30,000		35,991
Total Aerospace & Defense									1,600,026
Airlines - 0.1%
Delta Air Lines Pass-Through Trust		6.821	%		8/10/22		28,843		31,694
United Airlines Pass-Through Trust		5.375	%		8/15/21		21,634		22,652

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Airlines - (continued)
United Airlines Pass-Through Trust		4.750	%		4/11/22		57,118	$	58,840
United Airlines Pass-Through Trust		4.625	%		9/3/22		43,864		45,263
Total Airlines									158,449
Commercial Services & Supplies - 0.4%
Cintas Corp. No 2, Senior Notes		2.900	%		4/1/22		180,000		183,997
Cintas Corp. No 2, Senior Notes		3.700	%		4/1/27		240,000		261,914
Republic Services Inc., Senior Notes		2.500	%		8/15/24		80,000		80,941
United Rentals North America Inc., Senior Notes		6.500	%		12/15/26		30,000		32,797
United Rentals North America Inc., Senior Notes		4.875	%		1/15/28		20,000		20,875
United Rentals North America Inc., Senior Notes		5.250	%		1/15/30		100,000		105,188
Waste Management Inc., Senior Notes		3.500	%		5/15/24		20,000		21,088
Waste Management Inc., Senior Notes		3.200	%		6/15/26		40,000		42,212
Waste Management Inc., Senior Notes		3.450	%		6/15/29		80,000		86,468
Waste Management Inc., Senior Notes		4.000	%		7/15/39		60,000		68,277
Waste Management Inc., Senior Notes		4.150	%		7/15/49		60,000		70,027
Total Commercial Services & Supplies									973,784
Electrical Equipment - 0.1%
Eaton Corp., Senior Notes		2.750	%		11/2/22		270,000		274,833
Eaton Corp., Senior Notes		4.150	%		11/2/42		20,000		22,191
Total Electrical Equipment									297,024
Industrial Conglomerates - 0.4%
3M Co., Senior Notes		2.375	%		8/26/29		80,000		79,678
General Electric Co., Senior Notes		5.500	%		1/8/20		10,000		10,078
General Electric Co., Senior Notes		4.650	%		10/17/21		22,000		22,892
General Electric Co., Senior Notes		6.750	%		3/15/32		60,000		75,508
General Electric Co., Senior Notes		5.875	%		1/14/38		30,000		36,125
General Electric Co., Senior Notes		6.875	%		1/10/39		551,000		730,103
General Electric Co., Subordinated Notes		5.300	%		2/11/21		20,000		20,670
Total Industrial Conglomerates									975,054
Road & Rail - 0.3%
Union Pacific Corp., Senior Notes		3.750	%		7/15/25		70,000		75,446
Union Pacific Corp., Senior Notes		3.950	%		9/10/28		240,000		264,962
Union Pacific Corp., Senior Notes		4.500	%		9/10/48		220,000		262,894
Total Road & Rail									603,302

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Transportation Infrastructure - 0.1%
DP World PLC, Senior Notes		5.625	%		9/25/48		220,000	$	255,169	(b)
TOTAL INDUSTRIALS									4,862,808
INFORMATION TECHNOLOGY - 1.3%
Communications Equipment - 0.0%
Harris Corp., Senior Notes		5.054	%		4/27/45		30,000		37,693
IT Services - 0.3%
International Business Machines Corp.,
Senior Notes		3.000	%		5/15/24		300,000		311,250
Visa Inc., Senior Notes		3.150	%		12/14/25		210,000		224,004
Visa Inc., Senior Notes		4.300	%		12/14/45		130,000		161,551
Total IT Services									696,805
Semiconductors & Semiconductor Equipment - 0.1%
Broadcom Corp./Broadcom Cayman
Finance Ltd., Senior Notes		3.125	%		1/15/25		90,000		89,434
Intel Corp., Senior Notes		3.700	%		7/29/25		40,000		43,376
Total Semiconductors & Semiconductor Equipment									132,810
Software - 0.7%
Microsoft Corp., Senior Notes		1.550	%		8/8/21		150,000		149,417
Microsoft Corp., Senior Notes		2.400	%		2/6/22		210,000		213,002
Microsoft Corp., Senior Notes		2.875	%		2/6/24		200,000		208,476
Microsoft Corp., Senior Notes		2.700	%		2/12/25		70,000		72,619
Microsoft Corp., Senior Notes		2.400	%		8/8/26		300,000		305,788
Microsoft Corp., Senior Notes		3.300	%		2/6/27		370,000		399,478
Microsoft Corp., Senior Notes		3.450	%		8/8/36		10,000		11,071
Microsoft Corp., Senior Notes		3.750	%		2/12/45		110,000		126,185
Microsoft Corp., Senior Notes		3.950	%		8/8/56		50,000		59,312
salesforce.com Inc., Senior Notes		3.250	%		4/11/23		110,000		114,822
salesforce.com Inc., Senior Notes		3.700	%		4/11/28		30,000		32,955
Total Software									1,693,125
Technology Hardware, Storage & Peripherals - 0.2%
Apple Inc., Senior Notes		2.000	%		11/13/20		110,000		110,250
Apple Inc., Senior Notes		1.550	%		8/4/21		80,000		79,630
Apple Inc., Senior Notes		2.450	%		8/4/26		200,000		202,843
Dell International LLC/EMC Corp., Senior Notes		7.125	%		6/15/24		70,000		73,868	(b)
Total Technology Hardware, Storage & Peripherals									466,591
TOTAL INFORMATION TECHNOLOGY									3,027,024

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
MATERIALS - 1.3%
Containers & Packaging - 0.1%
Pactiv LLC, Senior Notes		8.375	%		4/15/27		250,000	$	272,500
Metals & Mining - 1.2%
Alcoa Nederland Holding BV, Senior Notes		6.750	%		9/30/24		200,000		210,750	(b)
Anglo American Capital PLC, Senior Notes		3.625	%		9/11/24		300,000		310,132	(b)
ArcelorMittal, Senior Notes		6.125	%		6/1/25		260,000		292,785
Barrick North America Finance LLC, Senior Notes		5.700	%		5/30/41		230,000		289,545
BHP Billiton Finance USA Ltd., Senior Notes		5.000	%		9/30/43		170,000		219,761
Freeport-McMoRan Inc., Senior Notes		3.550	%		3/1/22		70,000		70,350
Freeport-McMoRan Inc., Senior Notes		4.550	%		11/14/24		10,000		10,273
Freeport-McMoRan Inc., Senior Notes		5.450	%		3/15/43		80,000		72,480
Glencore Funding LLC, Senior Notes		2.875	%		4/16/20		30,000		30,104	(b)
Glencore Funding LLC, Senior Notes		3.000	%		10/27/22		20,000		20,213	(b)
Glencore Funding LLC, Senior Notes		4.125	%		5/30/23		60,000		62,831	(b)
Glencore Funding LLC, Senior Notes		4.125	%		3/12/24		70,000		73,475	(b)
Glencore Funding LLC, Senior Notes		4.625	%		4/29/24		130,000		139,199	(b)
Glencore Funding LLC, Senior Notes		4.000	%		3/27/27		90,000		92,590	(b)
Glencore Funding LLC, Senior Notes		3.875	%		10/27/27		90,000		92,281	(b)
Southern Copper Corp., Senior Notes		5.250	%		11/8/42		390,000		440,915
Teck Resources Ltd., Senior Notes		6.000	%		8/15/40		10,000		10,837
Vale Overseas Ltd., Senior Notes		6.875	%		11/21/36		149,000		189,528
Total Metals & Mining									2,628,049
TOTAL MATERIALS									2,900,549
REAL ESTATE - 0.2%
Equity Real Estate Investment Trusts (REITs) - 0.2%
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		3.750	%		9/17/24		330,000		349,916	(b)
UTILITIES - 0.7%
Electric Utilities - 0.7%
Berkshire Hathaway Energy Co., Senior Notes		6.125	%		4/1/36		147,000		203,861
Duke Energy Carolinas LLC, Secured Bonds		5.300	%		2/15/40		160,000		207,741
FirstEnergy Corp., Senior Notes		4.250	%		3/15/23		320,000		338,663
FirstEnergy Corp., Senior Notes		3.900	%		7/15/27		200,000		213,299

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Electric Utilities - (continued)
FirstEnergy Corp., Senior Notes		7.375	%		11/15/31		340,000	$	481,405
FirstEnergy Corp., Senior Notes		4.850	%		7/15/47		150,000		179,602
TOTAL UTILITIES									1,624,571
TOTAL CORPORATE BONDS & NOTES (Cost - $68,319,883)									72,770,864
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - 10.1%
Banc of America Funding Trust, 2015-R4 6A2 (1 mo. USD LIBOR + 0.140%)		2.285	%		8/27/36		780,000		773,861	(b)(c)
Banc of America Funding Trust, 2015-R4 6A1 (1 mo. USD LIBOR + 0.140%)		2.285	%		8/27/36		100,663		100,804	(b)(c)
Bank, 2017-BNK5 A5		3.390	%		6/15/60		640,000		686,645
Bank, 2017-BNK7 A5		3.435	%		9/15/60		190,000		204,698
Bank, 2017-BNK7 XA, IO		0.932	%		9/15/60		3,226,304		154,762	(c)
BCAP LLC Trust, 2011-RR5 11A4 (1 mo. USD LIBOR + 0.150%)		2.295	%		5/28/36		817,174		815,699	(b)(c)
BCAP LLC Trust, 2015-RR6 1A2		3.500	%		5/26/37		360,000		368,029	(b)(c)
BX Commercial Mortgage Trust, 2018-IND G (1 mo. USD LIBOR + 2.050%)		4.078	%		11/15/35		266,995		268,128	(b)(c)
Chevy Chase Funding LLC Mortgage-Backed Certificates, 2004-2A B1		2.727	%		5/25/35		175,928		140,522	(b)(c)
Chevy Chase Funding LLC Mortgage-Backed Certificates, 2004-3A A1 (1 mo. USD LIBOR + 0.250%)		2.268	%		8/25/35		621,475		618,162	(b)(c)
Chevy Chase Mortgage Funding Corp., 2004-3A A2 (1 mo. USD LIBOR + 0.300%)		2.318	%		8/25/35		678,120		677,768	(b)(c)
Credit Suisse Mortgage Trust, 2017-CHOP G (1 mo. USD LIBOR + 5.620%)		7.648	%		7/15/32		800,000		791,573	(b)(c)
CSMC Trust, 2018-J1 A2		3.500	%		2/25/48		1,813,355		1,822,280	(b)(c)
CSMC Trust, 2018-PLUM A (1 mo. USD LIBOR + 3.231%)		5.259	%		8/15/20		150,421		150,611	(b)(c)
CSMC Trust, 2019-AFC1 A1, Step Bond		2.573	%		7/25/49		573,729		575,860	(b)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K091 A2		3.505	%		3/25/29		240,000		266,724
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K736 X1, IO		1.312	%		7/25/26		3,000,000		223,860	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3281 AI, IO (-1.000 x 1 mo. USD LIBOR + 6.430%)		4.403	%		2/15/37		2,663,671		491,493	(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 328 S4, IO		2.166	%		2/15/38		52,987		3,824	(c)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2016-DNA1 M2 (1 mo. USD LIBOR + 2.900%)		5.045	%		7/25/28		482,749	$	486,116	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2017-DNA2 M2 (1 mo. USD LIBOR + 3.450%)		5.468	%		10/25/29		460,000		485,913	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2017-HRP1 B1 (1 mo. USD LIBOR + 4.600%)		6.618	%		12/25/42		670,000		726,891	(c)
Federal National Mortgage Association (FNMA) - CAS, 2019-R05 1M1 (1 mo. USD LIBOR + 0.750%)		2.768	%		7/25/39		563,474		564,416	(b)(c)
Federal National Mortgage Association (FNMA) - CAS, 2016-C04 1M2 (1 mo. USD LIBOR + 4.250%)		6.268	%		1/25/29		480,000		507,617	(b)(c)
Federal National Mortgage Association (FNMA) - CAS, 2018-C05 1B1 (1 mo. USD LIBOR + 4.250%)		6.268	%		1/25/31		200,000		218,020	(b)(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M1 A2		3.673	%		9/25/28		360,000		399,085	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M4 A2		3.610	%		2/25/31		100,000		112,107
Federal National Mortgage Association (FNMA) ACES, 2019-M5 A2		3.273	%		1/25/29		200,000		216,627
Federal National Mortgage Association (FNMA) ACES, 2019-M6 A2		3.450	%		1/1/29		210,000		232,923
Federal National Mortgage Association (FNMA) REMIC, 2006-115 EI, IO (-1.000 x 1 mo. USD LIBOR + 6.640%)		4.622	%		12/25/36		2,296,887		491,638	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-55 IO, IO		1.820	%		8/25/55		449,222		25,303	(c)
Federal National Mortgage Association (FNMA) REMIC, 2016-60 QS, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		4.082	%		9/25/46		797,278		142,240	(c)
Flagstar Mortgage Trust, 2018-2 A4		3.500	%		4/25/48		225,468		230,050	(b)(c)
GE Capital Commercial Mortgage Corp., 2007-C1 AJ		5.677	%		12/10/49		3,570,000		839,079	(c)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
Government National Mortgage Association (GNMA), 2012-034 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.050%)		4.006	%		3/20/42		726,216	$	142,113	(c)
Government National Mortgage Association (GNMA), 2012-43 SN, IO (-1.000 x 1 mo. LIBOR + 6.600%)		4.573	%		4/16/42		390,088		81,357	(c)
Government National Mortgage Association (GNMA), 2013-101 IO		0.545	%		10/16/54		5,808,874		162,869	(c)
Government National Mortgage Association (GNMA), 2014-186 IO, IO		0.756	%		8/16/54		2,592,628		117,213	(c)
Government National Mortgage Association (GNMA), 2015-167 OI, IO		4.000	%		4/16/45		275,287		52,460
Government National Mortgage Association (GNMA), 2016-84 IG, IO, PAC		4.500	%		11/16/45		1,997,818		340,449
Government National Mortgage Association (GNMA), 2016-135 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		4.073	%		10/16/46		394,299		87,617	(c)
GS Mortgage Securities Corp. II, 2018-SRP5 A (1 mo. USD LIBOR + 1.300%)		3.328	%		9/15/31		530,000		524,689	(b)(c)
GS Mortgage Securities Corp. II, 2018-SRP5 B (1 mo. USD LIBOR + 2.500%)		4.528	%		9/15/31		530,000		524,631	(b)(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2007-LDPX AJFX		5.438	%		1/15/49		1,210,000		239,140	(b)
JPMorgan Chase Commercial Mortgage Securities Trust, 2015-FL7 D (1 mo. USD LIBOR + 3.750%)		5.778	%		5/15/28		128,833		126,401	(b)(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2016-JP2 A4		2.822	%		8/15/49		200,000		206,807
JPMorgan Mortgage Trust, 2018-3 A1		3.500	%		9/25/48		97,070		99,115	(b)(c)
JPMorgan Mortgage Trust, 2018-4 A1		3.500	%		10/25/48		356,982		363,514	(b)(c)
JPMorgan Mortgage Trust, 2018-5 A1		3.500	%		10/25/48		849,619		867,184	(b)(c)
Morgan Stanley Capital I Trust, 2007-IQ13 AJ		5.438	%		3/15/44		1,656		1,655
Morgan Stanley Capital I Trust, 2007-IQ16 AJ		6.458	%		12/12/49		27,645		17,565	(c)
Morgan Stanley Capital I Trust, 2017-ASHF A (1 mo. USD LIBOR + 0.850%)		2.878	%		11/15/34		300,000		298,902	(b)(c)
Morgan Stanley Capital I Trust, 2019-BPR A (1 mo. USD LIBOR + 1.400%)		3.428	%		5/15/36		330,000		330,197	(b)(c)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
Morgan Stanley Resecuritization Trust, 2015-R3 7A1 (Federal Reserve U.S. 12 mo. Cumulative Avg 1 Year CMT + 0.770%)		3.252	%		4/26/47		255,459		$	253,727	(b)(c)
Morgan Stanley Resecuritization Trust, 2015-R3 7A2 (Federal Reserve U.S. 12 mo. Cumulative Avg 1 Year CMT + 0.770%)		3.252	%		4/26/47		730,000			724,524	(b)(c)
Morgan Stanley Resecuritization Trust, 2015-R3 9A1 (1 mo. USD LIBOR + 0.260%)		2.665	%		4/26/47		175,529			177,209	(b)(c)
New Residential Mortgage Loan Trust, 2016-4A A1		3.750	%		11/25/56		849,553			882,416	(b)(c)
New Residential Mortgage Loan Trust, 2017-6A A1		4.000	%		8/27/57		495,775			520,010	(b)(c)
Nomura Resecuritization Trust, 2015-5R 4A1 (1 mo. USD LIBOR + 0.140%)		3.219	%		7/26/37		219,880			222,124	(b)(c)
Towd Point Mortgage Funding PLC, 2016-V1A A1 (3 mo. GBP LIBOR + 1.200%)		1.961	%		2/20/54		555,461	GBP		683,900	(b)(c)
Waterfall Commercial Mortgage Trust, 2015-SBC5 A		4.104	%		9/14/22		90,179			93,043	(b)(c)
Wells Fargo Commercial Mortgage Trust, 2017-RB1, XA		1.432	%		3/15/50		2,198,844			172,577	(c)
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost - $24,975,939)										23,126,736
SOVEREIGN BONDS - 8.3%
Argentina - 0.3%
Argentina POM Politica Monetaria, Bonds (Argentina Central Bank 7 Day Repo Reference Rate)		79.499	%		6/21/20		2,430,000	ARS		18,266	(c)
Argentine Bonos del Tesoro, Bonds		18.200	%		10/3/21		9,410,000	ARS		43,304
Argentine Republic Government International Bond, Senior Notes		5.625	%		1/26/22		350,000			152,253
Argentine Republic Government International Bond, Senior Notes		7.500	%		4/22/26		460,000			202,980
Argentine Republic Government International Bond, Senior Notes, Step Bond (3.750% to 3/31/2029 then 5.250%)		3.750	%		12/31/38		530,000			212,668
Provincia de Buenos Aires, Senior Notes		6.500	%		2/15/23		160,000			57,600	(b)
Total Argentina										687,071
Brazil - 1.3%
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/21		2,228,000	BRL		566,546
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/23		5,048,000	BRL		1,349,554

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Brazil - (continued)
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/27		276,000	BRL	$	77,882
Brazilian Government International Bond, Senior Notes		4.625	%		1/13/28		200,000			212,852
Brazilian Government International Bond, Senior Notes		5.000	%		1/27/45		710,000			737,637
Total Brazil										2,944,471
China - 0.6%
China Government Bond, Senior Notes		3.390	%		5/21/25		1,500,000	CNH		215,296	(h)
China Government Bond, Senior Notes		3.310	%		11/30/25		7,500,000	CNH		1,073,980	(h)
Total China										1,289,276
Colombia - 0.1%
Colombia Government International Bond, Senior Notes		5.625	%		2/26/44		240,000			300,902
Ecuador - 0.1%
Ecuador Government International Bond, Senior Notes		7.875	%		1/23/28		200,000			190,252	(b)
Egypt - 0.1%
Egypt Government International Bond, Senior Notes		5.577	%		2/21/23		200,000			204,657	(b)
Indonesia - 0.9%
Indonesia Government International Bond, Senior Notes		3.750	%		4/25/22		390,000			402,674	(h)
Indonesia Government International Bond, Senior Notes		3.500	%		1/11/28		260,000			268,743
Indonesia Government International Bond, Senior Notes		4.350	%		1/11/48		300,000			331,342
Indonesia Treasury Bond, Senior Notes		7.000	%		5/15/27		13,823,000,000	IDR		969,159
Indonesia Treasury Bond, Senior Notes		7.500	%		6/15/35		2,348,000,000	IDR		163,106
Total Indonesia										2,135,024
Kenya - 0.1%
Kenya Government International Bond, Senior Notes		6.875	%		6/24/24		200,000			211,439	(h)
Kuwait - 0.3%
Kuwait International Government Bond, Senior Notes		3.500	%		3/20/27		670,000			723,519	(b)
Mexico - 2.3%
Mexican Bonos, Bonds		10.000	%		12/5/24		2,000,000	MXN		115,997
Mexican Bonos, Bonds		8.000	%		11/7/47		37,020,000	MXN		2,019,891

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Mexico - (continued)
Mexican Bonos, Senior Notes		7.750	%		11/13/42		55,940,000	MXN	$	2,968,188
Mexico Government International Bond, Senior Notes		4.600	%		2/10/48		230,000			246,390
Total Mexico										5,350,466
Nigeria - 0.1%
Nigeria Government International Bond, Senior Notes		6.500	%		11/28/27		200,000			202,708	(b)
Peru - 0.1%
Peruvian Government International Bond, Senior Notes		6.550	%		3/14/37		20,000			29,275
Peruvian Government International Bond, Senior Notes		5.625	%		11/18/50		120,000			176,101
Total Peru										205,376
Poland - 0.2%
Republic of Poland Government International Bond, Senior Notes		4.000	%		1/22/24		320,000			347,071
Qatar - 0.3%
Qatar Government International Bond, Senior Notes		4.000	%		3/14/29		200,000			221,887	(b)
Qatar Government International Bond, Senior Notes		4.817	%		3/14/49		330,000			409,160	(b)
Total Qatar										631,047
Russia - 1.4%
Russian Federal Bond - OFZ		7.000	%		1/25/23		12,270,000	RUB		191,600
Russian Federal Bond - OFZ		7.000	%		8/16/23		53,550,000	RUB		837,400
Russian Federal Bond - OFZ		8.150	%		2/3/27		7,520,000	RUB		124,878
Russian Federal Bond - OFZ		7.050	%		1/19/28		67,452,000	RUB		1,054,671
Russian Federal Bond - OFZ		6.900	%		5/23/29		23,160,000	RUB		357,272
Russian Federal Bond - OFZ		7.650	%		4/10/30		43,880,000	RUB		712,114
Russian Federal Bond - OFZ		7.250	%		5/10/34		2,450,000	RUB		38,152
Total Russia										3,316,087
United Arab Emirates - 0.1%
Abu Dhabi Government International Bond, Senior Notes		2.500	%		10/11/22		260,000			262,928	(b)
TOTAL SOVEREIGN BONDS (Cost - $20,185,846)										19,002,294
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 8.2%
U.S. Government Agencies - 0.0%
Federal Home Loan Bank (FHLB)		2.125	%		2/11/20		100,000			100,076

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
U.S. Government Obligations - 8.2%
U.S. Treasury Bonds		3.750	%		11/15/43		6,790,000	$	8,933,492
U.S. Treasury Bonds		2.875	%		8/15/45		1,850,000		2,132,270
U.S. Treasury Bonds		2.750	%		8/15/47		1,020,000		1,154,771
U.S. Treasury Bonds		2.750	%		11/15/47		2,620,000		2,968,122
U.S. Treasury Bonds		3.000	%		2/15/48		1,360,000		1,615,080
U.S. Treasury Bonds		3.125	%		5/15/48		620,000		753,748
U.S. Treasury Bonds		3.000	%		2/15/49		250,000		298,135
U.S. Treasury Bonds		2.875	%		5/15/49		120,000		139,983
U.S. Treasury Notes		2.125	%		3/31/24		250,000		256,079
U.S. Treasury Notes		1.625	%		9/30/26		410,000		410,136
U.S. Treasury Notes		1.625	%		8/15/29		60,000		59,730
Total U.S. Government Obligations									18,721,546
TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $16,316,051)									18,821,622
SENIOR LOANS - 3.3%
COMMUNICATION SERVICES - 0.7%
Diversified Telecommunication Services - 0.2%
Level 3 Financing Inc., 2024 Term Loan B (1 mo. USD LIBOR + 2.250%)		4.294	%		2/22/24		260,000		260,759	(c)(i)(j)
Virgin Media Bristol LLC, Term Loan Facility K (1 mo. USD LIBOR + 2.500%)		4.528	%		1/15/26		200,000		200,281	(c)(i)(j)
Total Diversified Telecommunication Services									461,040
Media - 0.5%
Charter Communications Operating LLC, Term Loan B (1 mo. USD LIBOR + 2.000%)		4.050	%		4/30/25		144,152		145,176	(c)(i)(j)
Diamond Sports Group LLC, Term Loan (1 mo. USD LIBOR + 3.250%)		5.300	%		8/24/26		60,000		60,356	(c)(i)(j)(k)
iHeartCommunications Inc., Term Loan (1 mo. USD LIBOR + 4.000%)		6.100	%		5/1/26		112,498		113,377	(c)(i)(j)(k)
Nexstar Broadcasting Inc., Term Loan B4 (3 mo. USD LIBOR + 2.750%)		4.807	%		6/19/26		140,000		140,860	(c)(i)(j)(k)
Numericable U.S. LLC, USD Term Loan B12 (1 mo. USD LIBOR + 3.688%)		5.715	%		1/31/26		140,886		140,111	(c)(i)(j)
Univision Communications Inc., 2017 Replacement Term Loan (1 mo. USD LIBOR + 2.750%)		4.794	%		3/15/24		290,588		282,909	(c)(i)(j)
Ziggo Secured Finance Partnership, Term Loan E (1 mo. USD LIBOR + 2.500%)		4.528	%		4/15/25		230,000		229,856	(c)(i)(j)
Total Media									1,112,645

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Wireless Telecommunication Services - 0.0%
Sprint Communications Inc., Initial Term Loan (1 mo. USD LIBOR + 2.500%)		4.563	%		2/2/24		5,880	$	5,844	(c)(i)(j)
TOTAL COMMUNICATION SERVICES									1,579,529
CONSUMER DISCRETIONARY - 0.7%
Auto Components - 0.1%
Panther BF Aggregator 2 LP, First Lien Initial Dollar Term Loan (1 mo. USD LIBOR + 3.500%)		5.544	%		4/30/26		150,000		149,187	(c)(i)(j)
Commercial Services & Supplies - 0.0%
Atlantic Aviation FBO Inc., Term Loan (1 mo. USD LIBOR + 3.750%)		5.800	%		12/6/25		29,775		30,035	(c)(f)(i)(j)
Diversified Consumer Services - 0.1%
Prime Security Services Borrower LLC, 2019 Refinancing Term Loan B1 (3 mo. USD LIBOR + 3.250%)		5.210	%		9/23/26		220,661		218,415	(c)(i)(j)
Entertainment - 0.0%
CEOC LLC, Term Loan B (1 mo. USD LIBOR + 2.000%)		4.044	%		10/7/24		63,038		63,074	(c)(i)(j)(k)
Hotels, Restaurants & Leisure - 0.4%
1011778 BC Unlimited Liability Co., Term Loan B3 (1 mo. USD LIBOR + 2.250%)		4.294	%		2/16/24		82,997		83,368	(c)(i)(j)
Alterra Mountain Co., Initial Term Loan (1 mo. USD LIBOR + 3.000%)		5.044	%		7/31/24		119,091		119,389	(c)(i)(j)
Caesars Resort Collection LLC, Term Loan B (1 mo. USD LIBOR + 2.750%)		4.794	%		12/23/24		167,601		166,718	(c)(i)(j)
Four Seasons Hotels Ltd., Restated Term Loan		—			11/30/23		69,821		70,232	(k)
Golden Nugget Inc., Term Loan B (1 mo. USD LIBOR + 2.750%)		4.794-4.807	%		10/4/23		79,505		79,472	(c)(i)(j)
Hilton Worldwide Finance LLC, Refinance Term Loan B2 (1 mo. USD LIBOR + 1.750%)		3.787	%		6/22/26		138,276		139,265	(c)(i)(j)
PCI Gaming Authority, Term Loan Facility B (1 mo. USD LIBOR + 3.000%)		5.044	%		5/15/26		89,775		90,359	(c)(i)(j)
Scientific Games International Inc., Initial Term Loan B5		4.794-4.896	%		8/14/24		234,805		233,170	(c)(i)(j)
Total Hotels, Restaurants & Leisure									981,973

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Specialty Retail - 0.1%
Academy Ltd., Initial Term Loan (1 mo. USD LIBOR + 4.000%)		6.100	%		7/1/22		235,211	$	165,432	(c)(i)(j)
Michaels Stores Inc., 2018 New Replacement Term Loan B (1 mo. USD LIBOR + 2.500%)		4.544-4.546	%		1/30/23		115,824		113,362	(c)(i)(j)
Party City Holdings Inc., 2018 Replacement Term Loan (1 mo. USD LIBOR + 2.500%)		4.550	%		8/19/22		30,183		29,963	(c)(i)(j)
Total Specialty Retail									308,757
TOTAL CONSUMER DISCRETIONARY									1,751,441
CONSUMER STAPLES - 0.0%
Food & Staples Retailing - 0.0%
Albertson’s LLC, 2019 Term Loan B7 (1 mo. USD LIBOR + 2.750%)		4.794	%		11/17/25		91,524		92,203	(c)(i)(j)
Albertson’s LLC, 2019 Term Loan B8 (1 mo. USD LIBOR + 2.750%)		4.794	%		8/17/26		57,909		58,332	(c)(i)(j)
TOTAL CONSUMER STAPLES									150,535
FINANCIALS - 0.6%
Capital Markets - 0.3%
Blackstone CQP Holdco LP, Initial Term Loan (3 mo. USD LIBOR + 3.500%)		5.656	%		9/30/24		39,900		40,143	(c)(i)(j)
Edelman Financial Center LLC, First Lien Initial Term Loan (1 mo. USD LIBOR + 3.250%)		5.307	%		7/21/25		79,400		79,634	(c)(i)(j)
First Eagle Holdings Inc., Initial Term Loan (3 mo. USD LIBOR + 2.750%)		4.854	%		12/2/24		59,600		59,768	(c)(i)(j)
Focus Financial Partners LLC, Term Loan B2 (1 mo. USD LIBOR + 2.500%)		4.544	%		7/3/24		129,874		130,618	(c)(i)(j)(k)
LPL Holdings Inc., Term Loan B (1 mo. USD LIBOR + 2.250%)		4.304	%		9/23/24		19,848		19,978	(c)(i)(j)
RPI Finance Trust, Initial Term Loan B6 (1 mo. USD LIBOR + 2.000%)		4.044	%		3/27/23		223,504		224,883	(c)(i)(j)
Total Capital Markets									555,024
Diversified Financial Services - 0.2%
Intelsat Jackson Holdings SA, Term Loan B3 (1 mo. USD LIBOR + 3.750%)		5.804	%		11/27/23		100,000		100,300	(c)(i)(j)
Jane Street Group LLC, New Term Loan (1 mo. USD LIBOR + 3.000%)		5.044	%		8/25/22		119,397		119,397	(c)(f)(i)(j)
Stars Group Holdings BV, USD Term Loan (3 mo. USD LIBOR + 3.500%)		5.604	%		7/10/25		9,223		9,272	(c)(i)(j)
TKC Holdings Inc., First Lien Initial Term Loan (1 mo. USD LIBOR + 3.750%)		5.800	%		2/1/23		154,200		151,855	(c)(i)(j)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Financial Services - (continued)
UFC Holdings LLC, Term Loan B (1 mo. USD LIBOR + 3.250%)		3.250	%		4/29/26		129,333	$	129,953	(c)(i)(j)
VFH Parent LLC, Initial Term Loan		—			3/1/26		10,000		10,032	(k)
VFH Parent LLC, Initial Term Loan		—			3/1/26		10,000		10,032	(k)
Total Diversified Financial Services									530,841
Insurance - 0.1%
Asurion LLC, Fourteenth Amendment Replacement Term Loan B4 (1 mo. USD LIBOR + 3.000%)		5.044	%		8/4/22		153,730		154,345	(c)(i)(j)
Asurion LLC, New Term Loan B7 (1 mo. USD LIBOR + 3.000%)		5.044	%		11/3/24		119,246		119,767	(c)(i)(j)
Total Insurance									274,112
TOTAL FINANCIALS									1,359,977
HEALTH CARE - 0.5%
Health Care Providers & Services - 0.2%
Jaguar Holding Co. II, 2018 Term Loan (1 mo. USD LIBOR + 2.500%)		4.544	%		8/18/22		59,010		59,135	(c)(i)(j)
LifePoint Health Inc., First Lien Term Loan B (1 mo. USD LIBOR + 4.500%)		6.554	%		11/16/25		248,548		249,053	(c)(i)(j)
MPH Acquisition Holdings LLC, Initial Term Loan (3 mo. USD LIBOR + 2.750%)		4.854	%		6/7/23		230,634		220,159	(c)(i)(j)
Phoenix Guarantor Inc., First Lien Initial Term Loan (1 mo. USD LIBOR + 4.500%)		6.567	%		3/5/26		69,825		70,065	(c)(i)(j)
Total Health Care Providers & Services									598,412
Health Care Technology - 0.2%
AthenaHealth Inc., First Lien Term Loan B (3 mo. USD LIBOR + 4.500%)		6.681	%		2/11/26		208,950		208,123	(c)(i)(j)
Change Healthcare Holdings LLC, Closing Date Term Loan (1 mo. USD LIBOR + 2.500%)		4.544	%		3/1/24		181,301		180,664	(c)(i)(j)
Total Health Care Technology									388,787
Pharmaceuticals - 0.1%
Bausch Health Cos. Inc., Initial Term Loan (1 mo. USD LIBOR + 3.000%)		5.039	%		6/2/25		105,170		105,715	(c)(i)(j)
Option Care Health, Inc., First Lien Term Loan B (1 mo. USD LIBOR + 4.500%)		6.544	%		8/6/26		110,000		110,137	(c)(f)(i)(j)
Total Pharmaceuticals									215,852
TOTAL HEALTH CARE									1,203,051

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
INDUSTRIALS - 0.2%
Air Freight & Logistics - 0.1%
Avolon TLB Borrower 1 (US) LLC, Term Loan B3 (1 mo. USD LIBOR + 1.750%)		3.794	%		1/15/25		115,453	$	116,088	(c)(i)(j)
Commercial Services & Supplies - 0.1%
Allied Universal Holdco LLC, Delayed Draw Term Loan		2.125	%		7/10/26		6,306		6,323	(c)(i)(j)
Allied Universal Holdco LLC, Initial Term Loan (3 mo. USD LIBOR + 4.250%)		6.507	%		7/10/26		63,694		63,866	(c)(i)(j)
API Group Inc., Term Loan B		—			5/11/26		100,000		100,500	(f)(k)
ServiceMaster Co. LLC, Term Loan C (1 mo. USD LIBOR + 2.500%)		4.544	%		11/8/23		5,795		5,839	(c)(f)(i)(j)
Total Commercial Services & Supplies									176,528
Professional Services - 0.0%
Trans Union LLC, 2017 Replacement Term Loan B3 (1 mo. USD LIBOR + 2.000%)		4.044	%		4/10/23		69,605		69,921	(c)(i)(j)
Trading Companies & Distributors - 0.0%
BrightView Landscapes LLC, Initial Term Loan (1 mo. USD LIBOR + 2.500%)		4.563	%		8/15/25		59,250		59,546	(c)(i)(j)
TOTAL INDUSTRIALS									422,083
INFORMATION TECHNOLOGY - 0.4%
IT Services - 0.1%
McAfee LLC, Term Loan B (1 mo. USD LIBOR + 3.750%)		5.794	%		9/30/24		209,372		210,045	(c)(i)(j)(k)
Software - 0.3%
Dell International LLC, Refinancing Term Loan B1 (1 mo. USD LIBOR + 2.000%)		4.050	%		9/19/25		131,968		132,792	(c)(i)(j)
DigiCert Holdings Inc., First Lien Term Loan (1 mo. USD LIBOR + 4.000%)		6.112	%		10/31/24		268,581		268,861	(c)(i)(j)
DigiCert Holdings Inc., Term Loan B		—			8/7/26		210,000		209,694	(k)
Total Software									611,347
Technology Hardware, Storage & Peripherals - 0.0%
Western Digital Corp., New Term Loan B4 (3 mo. USD LIBOR + 1.750%)		3.862	%		4/29/23		42,343		42,321	(c)(i)(j)
TOTAL INFORMATION TECHNOLOGY									863,713
MATERIALS - 0.1%
Containers & Packaging - 0.1%
Reynolds Group Holdings Inc., Incremental U.S. Term Loan (1 mo. USD LIBOR + 2.750%)		4.794	%		2/6/23		191,845		192,369	(c)(i)(j)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
REAL ESTATE - 0.1%
Equity Real Estate Investment Trusts (REITs) - 0.1%
MGM Growth Properties Operating Partnership LP, Term Loan B (1 mo. USD LIBOR + 2.000%)		4.044	%		3/21/25		118,824	$	119,251	(c)(i)(j)
Real Estate Management & Development - 0.0%
CityCenter Holdings LLC, Refinancing Term Loan (1 mo. USD LIBOR + 2.250%)		4.294	%		4/18/24		46,357		46,523	(c)(i)(j)
TOTAL REAL ESTATE									165,774
TOTAL SENIOR LOANS (Cost - $7,763,605)									7,688,472
U.S. TREASURY INFLATION PROTECTED SECURITIES - 2.0%
U.S. Treasury Bonds, Inflation Indexed		1.375	%		2/15/44		583,466		695,919
U.S. Treasury Bonds, Inflation Indexed		0.750	%		2/15/45		958,813		1,002,570
U.S. Treasury Bonds, Inflation Indexed		1.000	%		2/15/46		498,102		552,113
U.S. Treasury Bonds, Inflation Indexed		1.000	%		2/15/49		2,008,632		2,256,708
TOTAL U.S. TREASURY INFLATION PROTECTED SECURITIES (Cost - $3,990,430)									4,507,310
						FACE AMOUNT†/ UNITS
ASSET-BACKED SECURITIES - 1.5%
Applebee’s Funding LLC, 2019-1A A2I		4.194	%		6/7/49		400,000		409,644	(b)
Avis Budget Rental Car Funding AESOP LLC, 2019-2A A		3.350	%		9/22/25		290,000		302,143	(b)
Community Funding CLO, 2015-1A A		5.750	%		11/1/27		246,159		258,717	(b)
Ford Credit Floorplan Master Owner Trust, 2018-4 A		4.060	%		11/15/30		280,000		310,404
SBA Small Business Investment Cos., 2018-10B 1		3.548	%		9/10/28		169,037		178,599
SBA Small Business Investment Cos., 2019-10A 1		3.113	%		3/10/29		296,785		311,807
SLM Private Credit Student Loan Trust, 2006-A A5 (3 mo. USD LIBOR + 0.290%)		2.409	%		6/15/39		579,908		568,002	(c)
SMB Private Education Loan Trust, 2015-C R		0.000	%		9/18/46		1,092		906,653	(b)
Sofi Consumer Loan Program LLC, 2017-1 A		3.280	%		1/26/26		144,449		145,487	(b)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY			RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
United States Small Business Administration, 2019-20D 1				2.980	%		4/1/39		90,000	$	94,562
United States Small Business Administration, 2019-25G 1				2.690	%		7/1/44		90,000		93,086
TOTAL ASSET-BACKED SECURITIES (Cost - $4,032,246)											3,579,104
			EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT†
PURCHASED OPTIONS - 0.2%
EXCHANGE-TRADED PURCHASED OPTIONS - 0.1%
90-Day Euro Futures, Call @ $98.13				12/16/19			26		65,000		5,038
Eurodollar 1-Year Mid Curve Futures, Call @ $97.38				12/16/19			26		65,000		43,225
U.S. Treasury 10-Year Notes Futures, Call @ $129.50				10/25/19			13		13,000		15,031
U.S. Treasury 10-Year Notes Futures, Call @ $130.00				10/25/19			51		51,000		43,031
U.S. Treasury 10-Year Notes Futures, Call @ $130.50				10/25/19			25		25,000		14,844
U.S. Treasury 10-Year Notes Futures, Call @ $131.00				10/25/19			13		13,000		5,281
U.S. Treasury 10-Year Notes Futures, Put @ $129.00				10/25/19			37		37,000		8,094
U.S. Treasury 10-Year Notes Futures, Put @ $129.50				10/25/19			17		17,000		5,844
U.S. Treasury Long-Term Bonds Futures, Put @ $160.00				10/25/19			11		11,000		8,078
TOTAL EXCHANGE-TRADED PURCHASED OPTIONS											148,466
	COUNTERPARTY
OTC PURCHASED OPTIONS - 0.1%
U.S. Dollar/Australian Dollar, Put @ $0.70		Citibank N.A.		12/5/19			2,340,000		2,340,000		4,309
U.S. Dollar/Euro, Call @ $1.13		Citibank N.A.		10/21/19			4,420,000		4,420,000		149,261
U.S. Dollar/Euro, Call @ $1.14		Citibank N.A.		11/4/19			4,803,874		4,803,874		196,107
TOTAL OTC PURCHASED OPTIONS											349,677
TOTAL PURCHASED OPTIONS (Cost - $274,348)											498,143

See Notes to Schedule of Investments.

34

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SECURITY				SHARES		VALUE
COMMON STOCKS - 0.0%
COMMUNICATION SERVICES - 0.0%
Media - 0.0%
New Cotai LLC/New Cotai Capital Corp., Class B Shares					1	$	0	*(e)(f)(l)
CONSUMER DISCRETIONARY - 0.0%
Hotels, Restaurants & Leisure - 0.0%
Bossier Escrow Shares					22,038		4,666	*(e)(f)
ENERGY - 0.0%
Energy Equipment & Services - 0.0%
KCAD Holdings I Ltd.					108,106,087		0	*(e)(f)(l)
Oil, Gas & Consumable Fuels - 0.0%
MWO Holdings LLC					146		11,138	*(e)(f)
TOTAL ENERGY							11,138
TOTAL COMMON STOCKS (Cost - $1,030,181)							15,804
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $225,025,952)							229,183,547
	RATE
SHORT-TERM INVESTMENTS - 5.5%
Western Asset Government Cash Management Portfolio LLC (Cost - $12,507,032)		2.030	%		12,507,032		12,507,032	(m)
TOTAL INVESTMENTS - 105.3% (Cost - $237,532,984)							241,690,579
Liabilities in Excess of Other Assets - (5.3)%							(12,106,153	)
TOTAL NET ASSETS - 100.0%						$	229,584,426

See Notes to Schedule of Investments.

35

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) September 30, 2019

† Face amount/notional amount denominated in U.S. dollars, unless otherwise noted.

* Non-income producing security.

(a) This security is traded on a to-be-announced (“TBA”) basis. At September 30, 2019, the Portfolio held TBA securities with a total cost of $15,026,543.

(b) Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees.

(c) Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(d) Security has no maturity date. The date shown represents the next call date.

(e) Security is valued in good faith in accordance with procedures approved by the Board of Trustees (Note 1).

(f) Security is valued using significant unobservable inputs (Note 1).

(g) Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through certificates that are structured to direct payments on underlying collateral to different series or classes of the obligations. The interest rate may change positively or inversely in relation to one or more interest rates, financial indices or other financial indicators and may be subject to an upper and/or lower limit.

(h) Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees.

(i) Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan.

(j) Senior loans may be considered restricted in that the Portfolio ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan.

(k) All or a portion of this loan is unfunded as of September 30, 2019. The interest rate for fully unfunded term loans is to be determined.

(l) Value is less than $1.

(m) In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Portfolio ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control. At September 30, 2019, the total market value of investments in Affiliated Companies was $12,507,032 and the cost was $12,507,032 (Note 2).

See Notes to Schedule of Investments.

36

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Schedule of investments (unaudited) (cont’d) September 30, 2019

Abbreviations used in this schedule:

ACES	— Alternative Credit Enhancement Securities
ARS	— Argentine Peso
BRL	— Brazilian Real
CAS	— Connecticut Avenue Securities
CLO	— Collateralized Loan Obligation
CMT	— Constant Maturity Treasury
CNH	— Chinese Offshore Yuan
GBP	— British Pound
ICE	— Intercontinental Exchange
IDR	— Indonesian Rupiah
IO	— Interest Only
JSC	— Joint Stock Company
LIBOR	— London Interbank Offered Rate
MXN	— Mexican Peso
PAC	— Planned Amortization Class
REMIC	— Real Estate Mortgage Investment Conduit
RUB	— Russian Ruble
STRIPS	— Separate Trading of Registered Interest and Principal Securities
USD	— United States Dollar

SCHEDULE OF WRITTEN OPTIONS
EXCHANGE-TRADED WRITTEN OPTIONS
SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT		VALUE
Eurodollar 1-Year Mid Curve Futures, Call		12/16/19	$	97.63		52	$	130,000	$	(54,600	)
U.S. Treasury 5-Year Notes Futures, Call		10/25/19		121.00		40		40,000		(1,250	)
U.S. Treasury 5-Year Notes Futures, Put		10/25/19		118.75		40		40,000		(9,688	)
U.S. Treasury 5-Year Notes Futures, Put		10/25/19		119.25		13		13,000		(6,195	)
U.S. Treasury 10-Year Notes Futures, Call		10/25/19		131.50		52		52,000		(13,812	)
U.S. Treasury 10-Year Notes Futures, Call		10/25/19		134.00		14		14,000		(438	)
U.S. Treasury 10-Year Notes Futures, Call		11/22/19		132.00		26		26,000		(10,563	)
U.S. Treasury 10-Year Notes Futures, Call		11/22/19		134.00		26		26,000		(3,656	)
U.S. Treasury 10-Year Notes Futures, Call		11/22/19		135.00		38		38,000		(3,562	)
U.S. Treasury 10-Year Notes Futures, Put		10/25/19		127.50		26		26,000		(1,219	)
U.S. Treasury 10-Year Notes Futures, Put		10/25/19		130.00		6		6,000		(3,187	)
U.S. Treasury Long-Term Bonds Futures, Call		10/25/19		166.00		7		7,000		(3,281	)
U.S. Treasury Long-Term Bonds Futures, Put		10/25/19		153.00		3		3,000		(94	)
U.S. Treasury Long-Term Bonds Futures, Put		10/25/19		155.00		7		7,000		(547	)
U.S. Treasury Long-Term Bonds Futures, Put		10/25/19		157.00		4		4,000		(813	)
U.S. Treasury Long-Term Bonds Futures, Put		10/25/19		158.00		22		22,000		(6,875	)
TOTAL EXCHANGE-TRADED WRITTEN OPTIONS (Premiums received - $84,097)									$	(119,780	)

See Notes to Schedule of Investments.

37

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Schedule of investments (unaudited) (cont’d) September 30, 2019

SCHEDULE OF WRITTEN OPTIONS (continued)
OTC WRITTEN OPTIONS
SECURITY	COUNTERPARTY		EXPIRATION DATE		STRIKE PRICE			CONTRACTS		NOTIONAL AMOUNT		VALUE
Interest rate swaption with Bank of America N.A., Call		Bank of America N.A.		12/9/19		135.00	bps		890,000	$	890,000	$	(5,034	)
Interest rate swaption with Bank of America N.A., Call		Bank of America N.A.		12/9/19		135.00	bps		510,000		510,000		(2,885	)
Interest rate swaption with Bank of America N.A., Put		Bank of America N.A.		12/9/19		185.00	bps		890,000		890,000		(2,917	)
Interest rate swaption with Bank of America N.A., Put		Bank of America N.A.		12/9/19		185.00	bps		510,000		510,000		(1,672	)
TOTAL OTC WRITTEN OPTIONS (Premiums received - $13,791)												$	(12,508	)
TOTAL WRITTEN OPTIONS (Premiums received - $97,888)												$	(132,288	)

Abbreviation used in this schedule:

bps — basis point spread (100 basis points = 1.00%)

At September 30, 2019, the Portfolio had the following open futures contracts:

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy:
90-Day Eurodollar		47		12/19	$	11,473,061	$	11,519,700	$	46,639
90-Day Eurodollar		76		6/20		18,504,714		18,704,550		199,836
90-Day Eurodollar		16		3/21		3,897,429		3,944,200		46,771
Euro		2		12/19		278,195		274,063		(4,132	)
Euro-BTP		48		12/19		7,557,340		7,629,999		72,659
Mexican Peso		10		12/19		252,585		250,300		(2,285	)
U.S. Treasury 2-Year Notes		110		12/19		23,753,428		23,705,000		(48,428	)
U.S. Treasury 5-Year Notes		212		12/19		25,194,870		25,259,469		64,599
U.S. Treasury 10-Year Notes		323		12/19		42,256,256		42,090,937		(165,319	)
U.S. Treasury Ultra Long-Term Bonds		185		12/19		35,964,973		35,502,656		(462,317	)
										(251,977	)
Contracts to Sell:
30-Day Federal Funds		119		11/19		48,760,320		48,717,043		43,277
90-Day EuroDollar		12		6/21		2,967,125		2,958,750		8,375
Euro-Bund		161		12/19		30,915,698		30,577,730		337,968
Euro-Buxl		7		12/19		1,685,032		1,659,449		25,583
Japanese 10-Year Bonds		5		12/19		7,168,981		7,168,555		426
U.S. Treasury Long-Term Bonds		100		12/19		16,529,332		16,231,250		298,082
U.S. Treasury Ultra 10-Year Notes		50		12/19		7,197,440		7,120,312		77,128
										790,839
Net unrealized appreciation on open futures contracts									$	538,862

See Notes to Schedule of Investments.

38

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Schedule of investments (unaudited) (cont’d) September 30, 2019

At September 30, 2019, the Portfolio had the following open forward foreign currency contracts:

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	157,314		IDR	2,243,145,081	Bank of America N.A.		10/17/19	$	(413	)
USD	316,522		IDR	4,523,095,395	Bank of America N.A.		10/17/19		(1,520	)
CAD	12,860,950		USD	9,813,923	Barclays Bank PLC		10/17/19		(103,747	)
CNY	9,540,000		USD	1,345,842	Barclays Bank PLC		10/17/19		(9,739	)
EUR	500,000		USD	554,866	Barclays Bank PLC		10/17/19		(9,158	)
IDR	45,852,176,866		USD	3,192,826	Barclays Bank PLC		10/17/19		31,272
INR	151,244,882		USD	2,151,880	Barclays Bank PLC		10/17/19		(21,641	)
USD	1,527,562		CAD	2,003,449	Barclays Bank PLC		10/17/19		14,933
USD	1,399,637		CNH	9,644,198	Barclays Bank PLC		10/17/19		49,569
USD	2,549,313		CNY	17,564,000	Barclays Bank PLC		10/17/19		89,426
USD	2,177,485		EUR	1,940,000	Barclays Bank PLC		10/17/19		60,137
USD	1,747,137		GBP	1,390,125	Barclays Bank PLC		10/17/19		36,661
USD	2,080,208		IDR	29,553,510,172	Barclays Bank PLC		10/17/19		2,151
USD	2,136,227		INR	151,244,882	Barclays Bank PLC		10/17/19		5,988
USD	2,596		JPY	280,001	Barclays Bank PLC		10/17/19		3
USD	12,228		JPY	1,290,001	Barclays Bank PLC		10/17/19		284
USD	1,393,238		MXN	27,549,610	Barclays Bank PLC		10/17/19		1,340
ZAR	6,640,000		USD	466,292	Barclays Bank PLC		10/17/19		(28,884	)
USD	2,029,174		BRL	7,654,045	BNP Paribas SA		10/17/19		189,324
USD	202,049		EUR	180,000	BNP Paribas SA		10/17/19		5,594
AUD	376,434		USD	261,437	Citibank N.A.		10/17/19		(7,201	)
BRL	5,160,000		USD	1,358,252	Citibank N.A.		10/17/19		(117,911	)
BRL	5,982,400		USD	1,576,619	Citibank N.A.		10/17/19		(138,593	)
BRL	10,400,000		USD	2,734,324	Citibank N.A.		10/17/19		(234,411	)
EUR	260,000		USD	286,741	Citibank N.A.		10/17/19		(2,973	)
EUR	300,000		USD	338,909	Citibank N.A.		10/17/19		(11,484	)
EUR	1,716,483		USD	1,926,197	Citibank N.A.		10/17/19		(52,799	)
GBP	300,000		USD	365,337	Citibank N.A.		10/17/19		3,797
GBP	459,013		USD	573,450	Citibank N.A.		10/17/19		(8,659	)

See Notes to Schedule of Investments.

39

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Schedule of investments (unaudited) (cont’d) September 30, 2019

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
MXN	52,369,471		USD	2,698,790	Citibank N.A.		10/17/19	$	(52,909	)
USD	29,512		COP	95,707,000	Citibank N.A.		10/17/19		2,031
USD	111,447		EUR	100,000	Citibank N.A.		10/17/19		2,306
USD	168,688		EUR	150,000	Citibank N.A.		10/17/19		4,975
USD	200,993		EUR	180,000	Citibank N.A.		10/17/19		4,538
USD	202,105		EUR	180,000	Citibank N.A.		10/17/19		5,650
USD	203,316		EUR	180,000	Citibank N.A.		10/17/19		6,861
USD	219,481		EUR	200,000	Citibank N.A.		10/17/19		1,198
USD	224,961		EUR	200,000	Citibank N.A.		10/17/19		6,678
USD	2,839		JPY	300,001	Citibank N.A.		10/17/19		61
USD	3,864		JPY	410,001	Citibank N.A.		10/17/19		67
USD	8,545		JPY	900,001	Citibank N.A.		10/17/19		211
USD	9,402		JPY	990,001	Citibank N.A.		10/17/19		235
USD	13,623		JPY	1,440,001	Citibank N.A.		10/17/19		289
USD	16,015		JPY	1,700,001	Citibank N.A.		10/17/19		274
USD	94,578		JPY	10,186,251	Citibank N.A.		10/17/19		258
USD	1,284,301		MXN	24,819,861	Citibank N.A.		10/17/19		30,319
USD	111,486		RUB	7,201,140	Citibank N.A.		10/17/19		706
USD	437,158		ZAR	6,640,000	Citibank N.A.		10/17/19		(249	)
USD	2,461,498		BRL	9,270,000	Goldman Sachs Group Inc.		10/17/19		233,210
CNH	9,644,198		USD	1,354,998	JPMorgan Chase & Co.		10/17/19		(4,930	)
PHP	101,355,000		USD	1,941,667	JPMorgan Chase & Co.		10/17/19		12,915
TWD	479,800		USD	15,563	JPMorgan Chase & Co.		10/17/19		(82	)
USD	822,052		EUR	724,703	JPMorgan Chase & Co.		10/17/19		31,100
USD	162,753		IDR	2,332,255,439	JPMorgan Chase & Co.		10/17/19		(1,239	)
USD	190,992		IDR	2,694,511,113	JPMorgan Chase & Co.		10/17/19		1,527
USD	317,032		IDR	4,505,659,666	JPMorgan Chase & Co.		10/17/19		216
USD	1,968,058		PHP	101,355,000	JPMorgan Chase & Co.		10/17/19		13,476
USD	37,748		RUB	2,436,157	JPMorgan Chase & Co.		10/17/19		271
USD	15,477		TWD	479,800	JPMorgan Chase & Co.		10/17/19		(3	)
EUR	1,995,000		USD	2,254,549	Citibank N.A.		10/23/19		(76,111	)
IDR	29,553,510,172		USD	2,052,042	Barclays Bank PLC		1/17/20		5,653
INR	151,244,882		USD	2,111,253	Barclays Bank PLC		1/17/20		(2,317	)
MXN	27,549,610		USD	1,373,682	Barclays Bank PLC		1/17/20		(1,027	)
USD	1,337,915		CNY	9,540,000	Barclays Bank PLC		1/17/20		3,620
ZAR	6,640,000		USD	432,039	Citibank N.A.		1/17/20		246
TWD	479,800		USD	15,596	JPMorgan Chase & Co.		1/17/20		(35	)
USD	1,351,997		CNH	9,644,198	JPMorgan Chase & Co.		1/17/20		4,975
USD	1,932,301		PHP	101,355,000	JPMorgan Chase & Co.		1/17/20		(1 4,527	)
Total								$	(38,217	)

See Notes to Schedule of Investments.

40

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) September 30, 2019

Abbreviations used in this table:

AUD	— Australian Dollar
BRL	— Brazilian Real
CAD	— Canadian Dollar
CNH	— Chinese Offshore Yuan
CNY	— Chinese Yuan Renminbi
COP	— Colombian Peso
EUR	— Euro
GBP	— British Pound
IDR	— Indonesian Rupiah
INR	— Indian Rupee
JPY	— Japanese Yen
MXN	— Mexican Peso
PHP	— Philippine Peso
RUB	— Russian Ruble
TWD	— Taiwan Dollar
USD	— United States Dollar
ZAR	— South African Rand

At September 30, 2019, the Portfolio had the following open swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAPS
	NOTIONAL AMOUNT*		TERMINATION DATE		PAYMENTS MADE BY THE PORTFOLIO†	PAYMENTS RECEIVED BY THE PORTFOLIO†	UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
		6,899,000		4/26/22	3-Month LIBOR quarterly	2.250% semi-annually	$	1,364		$	56,589
		5,880,000		6/15/22	3-Month LIBOR quarterly	1.850% semi-annually		(1,368	)		44,692
		7,042,000		4/26/23	2.300% semi-annually	3-Month LIBOR quarterly		475			(60,688	)
		5,456,000		12/31/25	2.250% semi-annually	3-Month LIBOR quarterly		28,329			(270,870	)
		12,249,000		1/31/26	2.500% semi-annually	3-Month LIBOR quarterly		(164,848	)		(570,385	)
		11,344,000		4/30/26	1.850% semi-annually	3-Month LIBOR quarterly		16,204			(257,450	)
		2,080,000		6/30/26	1.550% semi-annually	3-Month LIBOR quarterly		2,347			(10,137	)

See Notes to Schedule of Investments.

41

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) September 30, 2019

CENTRALLY CLEARED INTEREST RATE SWAPS (cont’d)
	NOTIONAL AMOUNT*			TERMINATION DATE		PAYMENTS MADE BY THE PORTFOLIO†	PAYMENTS RECEIVED BY THE PORTFOLIO†	UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
		7,768,000			6/30/26	1.250% annually	Daily U.S. Federal Funds Intraday Effective Rate annually	$	(8,218	)	$	2,522
		28,260,000	MXN		7/18/29	28-Day MXN TIIE - Banxico every 28 days	7.450% every 28 days		11,695			58,535
		47,980,000	MXN		7/20/29	28-Day MXN TIIE - Banxico every 28 days	7.440% every 28 days		24,077			92,266
		3,930,000			2/15/36	3-Month LIBOR quarterly	3.000% semi-annually		2,156			762,569
		2,934,000			2/15/44	3.330% semi-annually	3-Month LIBOR quarterly		(128	)		(970,470	)
		2,960,000			5/15/44	3.000% semi-annually	3-Month LIBOR quarterly		2,294			(787,502	)
		2,468,000			8/15/44	2.750% semi-annually	3-Month LIBOR quarterly		(3,116	)		(527,852	)
		821,000			11/15/44	1.810% semi-annually	3-Month LIBOR quarterly		1,099			(16,845	)
		1,134,000			11/15/44	1.850% semi-annually	3-Month LIBOR quarterly		3,116			(34,408	)
		213,300	EUR		8/23/47	1.498% annually	6-Month EURIBOR semi-annually		(271	)		(82,862	)
Total								$	(84,793	)	$	(2,572,296	)

OTC INTEREST RATE SWAPS
SWAP COUNTERPARTY	NOTIONAL AMOUNT*			TERMINATION DATE		PAYMENTS MADE BY THE PORTFOLIO†	PAYMENTS RECEIVED BY THE PORTFOLIO†			UPFRONT PREMIUMS PAID (RECEIVED)		UNREALIZED APPRECIATION
Citibank N.A.		1,785,000	BRL		1/2/20	BRL-CDI**		8.410%	**	$	340	$	13,107
Citibank N.A.		3,400,000	BRL		1/2/20	BRL-CDI**		8.410%	**		142		25,498
Citibank N.A.		3,800,000	BRL		1/2/20	BRL-CDI**		8.410%	**		368		28,259
Citibank N.A.		5,900,000	BRL		1/2/20	BRL-CDI**		8.410%	**		919		45,538
Citibank N.A.		16,865,000	BRL		1/2/20	BRL-CDI**		8.410%	**		—		127,048
Citibank N.A.		2,400,000	BRL		1/4/27	BRL-CDI**		7.024%	**		—		8,083
Citibank N.A.		2,900,000	BRL		1/4/27	BRL-CDI**		7.024%	**		1,489		8,278

See Notes to Schedule of Investments.

42

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) September 30, 2019

OTC INTEREST RATE SWAPS (cont’d)
SWAP COUNTERPARTY	NOTIONAL AMOUNT*			TERMINATION DATE		PAYMENTS MADE BY THE PORTFOLIO†	PAYMENTS RECEIVED BY THE PORTFOLIO†			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION
Citibank N.A.		3,108,000	BRL		1/4/27	BRL-CDI**		7.024	%**	$	1,860		$	8,607
JPMorgan Chase & Co.		2,000,000	BRL		1/4/27	BRL-CDI**		7.044	%**		—			7,176
Total										$	5,118		$	271,594
CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - SELL PROTECTION1
REFERENCE ENTITY	NOTIONAL AMOUNT2			TERMINATION DATE		PERIODIC PAYMENTS RECEIVED BY THE FUND†	MARKET VALUE3			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION
Markit CDX.NA.IG.33 Index	$	17,655,000			12/20/24	1.000% quarterly	$	350,981		$	350,325		$	656
CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - BUY PROTECTION4
REFERENCE ENTITY	NOTIONAL AMOUNT2			TERMINATION DATE		PERIODIC PAYMENTS MADE BY THE PORTFOLIO†	MARKET VALUE3			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED DEPRECIATION
Markit CDX.NA.HY.33 Index	$	260,000			12/20/24	5.000% quarterly	$	(17,440	)	$	(16,821	)	$	(619	)

¹  If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

²  The maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

³  The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected loss (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection) when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

⁴  If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or the underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or the underlying securities comprising the referenced index.

† Percentage shown is an annual percentage rate.

* Notional amount denominated in U.S. dollars, unless otherwise noted.

** One time payment made at termination date.

See Notes to Schedule of Investments.

43

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) September 30, 2019

Abbreviations used in this table:

BRL	— Brazilian Real
BRL-CDI	— Brazil Cetip InterBank Deposit Rate
EUR	— Euro
LIBOR	— London Interbank Offered Rate
MXN	— Mexican Peso
TIIE	— Equilibrium Interbanking Interest Rate (Tasa de Intere’s Interbancaria de Equilibrio)

This Schedule of Investments is unaudited and is intended to provide information about the Portfolio’s investments as of the date of the schedule. Other information regarding the Portfolio is available in the Portfolio’s most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

44

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

Western Asset Core Plus VIT Portfolio (the “Portfolio”) is a separate diversified investment series of Legg Mason Partners Variable Income Trust (the “Trust”). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.

Shares of the Portfolio may only be purchased or redeemed through variable annuity contracts and variable life insurance policies offered by the separate accounts of participating insurance companies or through eligible pension or other qualified plans.

The following are significant accounting policies consistently followed by the Portfolio and are in conformity with U.S. generally accepted accounting principles (“GAAP”).

(a) Investment valuation. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Portfolio holds securities or other assets that are denominated in a foreign currency, the Portfolio will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Portfolio calculates its net asset value, the Portfolio values these securities as determined in accordance with procedures approved by the Portfolio’s Board of Trustees.

The Board of Trustees is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Legg Mason North Atlantic Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee, pursuant to the policies adopted by the Board of Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the Portfolio’s pricing policies, and reporting to the Board of Trustees. When determining the reliability of third party pricing information for investments

45

Notes to Schedule of Investments (unaudited) (continued)

owned by the Portfolio, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Trustees quarterly.

The Portfolio uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

• Level 1 – quoted prices in active markets for identical investments

• Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

46

Notes to Schedule of Investments (unaudited) (continued)

The following is a summary of the inputs used in valuing the Portfolio’s assets and liabilities carried at fair value:

ASSETS
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)			TOTAL
Long-Term Investments†:
Mortgage-Backed Securities		—	$	79,173,198		—		$	79,173,198
Corporate Bonds & Notes:
Financials		—		27,905,866	$	1,830,840			29,736,706
Other Corporate Bonds & Notes		—		43,034,158		—			43,034,158
Collateralized Mortgage Obligations		—		23,126,736		—			23,126,736
Sovereign Bonds		—		19,002,294		—			19,002,294
U.S. Government & Agency Obligations		—		18,821,622		—			18,821,622
Senior Loans:
Consumer Discretionary		—		1,721,406		30,035			1,751,441
Financials		—		1,240,580		119,397			1,359,977
Health Care		—		1,092,914		110,137			1,203,051
Industrials		—		315,744		106,339			422,083
Other Senior Loans		—		2,951,920		—			2,951,920
U.S. Treasury Inflation Protected Securities		—		4,507,310		—			4,507,310
Asset-Backed Securities		—		3,579,104		—			3,579,104
Purchased Options:
Exchange-Traded Purchased Options	$	148,466		—		—			148,466
OTC Purchased Options		—		349,677		—			349,677
Common Stocks:
Communication Services		—		—		0	*		—
Consumer Discretionary		—		—		4,666			4,666
Energy		—		—		11,138			11,138
Total Long-Term Investments		148,466		226,822,529		2,212,552			229,183,547
Short-Term Investments†		—		12,507,032		—			12,507,032
Total Investments	$	148,466	$	239,329,561	$	2,212,552		$	241,690,579

47

Notes to Schedule of Investments (unaudited) (continued)

ASSETS (cont’d)
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Futures Contracts	$	1,221,343		—		—	$	1,221,343
Forward Foreign Currency Contracts		—	$	864,345		—		864,345
Centrally Cleared Interest Rate Swaps		—		1,017,173		—		1,017,173
OTC Interest Rate Swaps‡		—		276,712		—		276,712
Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection		—		656		—		656
Total Other Financial Instruments	$	1,221,343	$	2,158,886		—	$	3,380,229
Total	$	1,369,809	$	241,488,447	$	2,212,552	$	245,070,808
LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Written Options:
Exchange-Traded Written Options	$	119,780		—		—	$	119,780
OTC Written Options		—	$	12,508		—		12,508
Futures Contracts		682,481		—		—		682,481
Forward Foreign Currency Contracts		—		902,562		—		902,562
Centrally Cleared Interest Rate Swaps		—		3,589,469		—		3,589,469
Centrally Cleared Credit Default Swaps on Credit Indices - Buy Protection		—		619		—		619
Total	$	802,261	$	4,505,158		—	$	5,307,419

† See Schedule of Investments for additional detailed categorizations.

* Amount represents less than $1.

‡ Value includes any premium paid or received with respect to swap contracts.

2. Transactions with affiliated companies

As defined by the 1940 Act, an affiliated company is one in which the Portfolio owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control. The Portfolio may invest in Western Asset Government Cash Management Portfolio, LLC (“Cash Management Portfolio”), an affiliated private money market fund managed

48

Notes to Schedule of Investments (unaudited) (continued)

by Western Asset Management Company, LLC, the Portfolio’s subadviser. Cash Management Portfolio is available as a cash management vehicle for certain proprietary investment companies affiliated with Legg Mason, Inc. While Cash Management Portfolio is not a registered money market fund, it conducts all of its investment activities in accordance with the requirements of Rule 2a-7 under the 1940 Act. Based on the Portfolio’s relative ownership, the following companies were considered affiliated companies for all or some portion of the period ended September 30, 2019. The following transactions were effected in shares of such companies for the period ended September 30, 2019.

	Affiliate Value at December 31, 2018		Purchased				Sold				Realized Gain (Loss)		Interest Income		Net Increase (Decrease) in Unrealized Appreciation (Depreciation)		Affiliate Value at September 30, 2019
			Cost		Shares		Cost		Shares
Western Asset Government Cash Management Portfolio LLC	$	10,338,307	$	68,342,475		68,342,475	$	66,173,750		66,173,750		—	$	108,697		—	$	12,507,032

49