Equity Income - Schedule of Investments | |
DECEMBER 31, 2019 (UNAUDITED) |
Shares/ Principal Amount ($) | Value ($) | ||||
COMMON STOCKS — 80.1% | |||||
Air Freight and Logistics — 0.7% | |||||
United Parcel Service, Inc., Class B | 794,818 | 93,041,396 | |||
Automobiles — 0.3% | |||||
Honda Motor Co. Ltd. | 1,093,100 | 30,833,278 | |||
Toyota Motor Corp. | 176,300 | 12,413,245 | |||
43,246,523 | |||||
Banks — 7.4% | |||||
Comerica, Inc. | 2,999,900 | 215,242,825 | |||
Commerce Bancshares, Inc. | 566,614 | 38,495,755 | |||
JPMorgan Chase & Co. | 999,097 | 139,274,122 | |||
PNC Financial Services Group, Inc. (The) | 2,297,018 | 366,672,983 | |||
Wells Fargo & Co. | 3,849,500 | 207,103,100 | |||
966,788,785 | |||||
Beverages — 2.5% | |||||
PepsiCo, Inc. | 2,397,500 | 327,666,325 | |||
Biotechnology — 0.4% | |||||
Gilead Sciences, Inc. | 794,200 | 51,607,116 | |||
Capital Markets — 1.7% | |||||
AllianceBernstein Holding LP | 378,978 | 11,467,874 | |||
Bank of New York Mellon Corp. (The) | 1,995,200 | 100,418,416 | |||
BlackRock, Inc. | 89,600 | 45,041,920 | |||
Janus Henderson Group plc | 1,298,921 | 31,758,618 | |||
Northern Trust Corp. | 298,440 | 31,706,266 | |||
220,393,094 | |||||
Chemicals — 0.6% | |||||
Akzo Nobel NV | 599,000 | 61,072,965 | |||
DuPont de Nemours, Inc. | 297,288 | 19,085,890 | |||
80,158,855 | |||||
Commercial Services and Supplies — 1.2% | |||||
Republic Services, Inc. | 1,783,661 | 159,869,536 | |||
Communications Equipment — 1.5% | |||||
Cisco Systems, Inc. | 4,099,191 | 196,597,200 | |||
Distributors — 0.8% | |||||
Genuine Parts Co. | 999,141 | 106,138,748 | |||
Diversified Telecommunication Services — 2.8% | |||||
Verizon Communications, Inc. | 5,993,837 | 368,021,592 | |||
Electric Utilities — 1.8% | |||||
Duke Energy Corp. | 598,000 | 54,543,580 | |||
Edison International | 1,149,714 | 86,699,933 | |||
Eversource Energy | 397,000 | 33,772,790 | |||
Pinnacle West Capital Corp. | 698,817 | 62,844,613 | |||
237,860,916 | |||||
Electrical Equipment — 4.2% | |||||
Emerson Electric Co. | 4,399,161 | 335,480,018 |
Hubbell, Inc. | 1,397,658 | 206,601,805 | |||
542,081,823 | |||||
Energy Equipment and Services — 1.5% | |||||
Schlumberger Ltd. | 4,967,112 | 199,677,902 | |||
Equity Real Estate Investment Trusts (REITs) — 2.7% | |||||
Welltower, Inc. | 3,094,054 | 253,031,736 | |||
Weyerhaeuser Co. | 3,192,784 | 96,422,077 | |||
349,453,813 | |||||
Food and Staples Retailing — 2.2% | |||||
Koninklijke Ahold Delhaize NV | 3,996,642 | 100,163,312 | |||
Walmart, Inc. | 1,616,829 | 192,143,958 | |||
292,307,270 | |||||
Food Products — 2.9% | |||||
Nestle SA | 3,436,800 | 372,331,033 | |||
Gas Utilities — 4.5% | |||||
Atmos Energy Corp. | 1,889,646 | 211,375,801 | |||
ONE Gas, Inc. | 2,198,196 | 205,685,200 | |||
Spire, Inc. | 1,999,258 | 166,558,184 | |||
583,619,185 | |||||
Health Care Equipment and Supplies — 4.5% | |||||
Medtronic plc | 5,151,779 | 584,469,328 | |||
Health Care Providers and Services — 1.6% | |||||
Quest Diagnostics, Inc. | 1,994,958 | 213,041,565 | |||
Health Care Technology — 0.1% | |||||
Cerner Corp. | 235,600 | 17,290,684 | |||
Hotels, Restaurants and Leisure — 0.6% | |||||
Sodexo SA(1) | 598,700 | 71,008,609 | |||
Household Products — 5.3% | |||||
Colgate-Palmolive Co. | 2,999,000 | 206,451,160 | |||
Kimberly-Clark Corp. | 1,996,280 | 274,588,314 | |||
Procter & Gamble Co. (The) | 1,715,359 | 214,248,339 | |||
695,287,813 | |||||
Insurance — 4.5% | |||||
Aflac, Inc. | 1,498,000 | 79,244,200 | |||
Chubb Ltd. | 1,698,028 | 264,315,039 | |||
Marsh & McLennan Cos., Inc. | 2,197,305 | 244,801,750 | |||
588,360,989 | |||||
IT Services — 2.2% | |||||
Automatic Data Processing, Inc. | 1,364,650 | 232,672,825 | |||
Paychex, Inc. | 598,200 | 50,882,892 | |||
283,555,717 | |||||
Machinery — 0.2% | |||||
Atlas Copco AB, B Shares | 695,500 | 24,130,591 | |||
Oil, Gas and Consumable Fuels — 7.2% | |||||
Chevron Corp. | 1,999,616 | 240,973,724 | |||
ConocoPhillips | 1,373,929 | 89,346,603 | |||
Enterprise Products Partners LP | 8,094,400 | 227,938,304 | |||
Shell Midstream Partners LP | 2,448,236 | 49,478,850 | |||
TOTAL SA | 5,883,258 | 325,122,081 | |||
932,859,562 | |||||
Pharmaceuticals — 7.8% | |||||
Johnson & Johnson | 3,981,387 | 580,764,922 | |||
Novartis AG | 141,800 | 13,434,467 | |||
Pfizer, Inc. | 9,996,300 | 391,655,034 | |||
Roche Holding AG | 97,900 | 31,744,863 | |||
1,017,599,286 | |||||
Road and Rail — 0.5% | |||||
Norfolk Southern Corp. | 349,892 | 67,924,534 | |||
Semiconductors and Semiconductor Equipment — 3.1% | |||||
Applied Materials, Inc. | 397,339 | 24,253,572 | |||
Intel Corp. | 376,100 | 22,509,585 | |||
Maxim Integrated Products, Inc. | 3,396,400 | 208,912,564 | |||
Texas Instruments, Inc. | 1,197,858 | 153,673,203 | |||
409,348,924 | |||||
Software — 1.8% | |||||
Microsoft Corp. | 1,498,636 | 236,334,897 | |||
Thrifts and Mortgage Finance — 1.0% | |||||
Capitol Federal Financial, Inc.(2) | 9,199,479 | 126,308,847 | |||
TOTAL COMMON STOCKS (Cost $8,269,457,313) | 10,458,382,458 | ||||
PREFERRED STOCKS — 8.0% | |||||
Banks — 5.8% | |||||
Bank of America Corp., 5.875% | 116,802,000 | 129,615,179 | |||
Citigroup, Inc., 5.00% | 47,386,000 | 49,666,451 | |||
Citigroup, Inc., 5.95% | 86,555,000 | 91,706,321 | |||
JPMorgan Chase & Co., 5.00% | 160,963,000 | 167,602,724 | |||
JPMorgan Chase & Co., 5.41% | 31,979,000 | 32,315,419 | |||
U.S. Bancorp, 5.30% | 139,717,000 | 154,338,384 | |||
Wells Fargo & Co., 5.66% | 123,534,000 | 125,232,593 | |||
750,477,071 | |||||
Capital Markets — 0.2% | |||||
Bank of New York Mellon Corp. (The), 4.95% | 21,990,000 | 22,214,958 | |||
Charles Schwab Corp. (The), 5.00%(1) | 3,967,000 | 4,181,297 | |||
26,396,255 | |||||
Electric Utilities — 0.8% | |||||
Duke Energy Corp., 4.875% | 102,800,000 | 107,957,990 | |||
Insurance — 0.1% | |||||
Progressive Corp. (The), 5.375% | 15,332,000 | 16,136,623 | |||
Multi-Utilities — 0.3% | |||||
Dominion Energy, Inc., 4.65% | 42,460,000 | 43,369,493 | |||
Oil, Gas and Consumable Fuels — 0.8% | |||||
Plains All American Pipeline LP, 6.125% | 109,800,000 | 102,555,396 | |||
TOTAL PREFERRED STOCKS (Cost $1,011,525,955) | 1,046,892,828 | ||||
CONVERTIBLE BONDS — 3.6% | |||||
Aerospace and Defense — 0.2% | |||||
UBS AG, (convertible into Raytheon Co.), 1.25%, 6/24/20(3)(4) | 122,700 | 26,344,917 | |||
Airlines — 0.3% | |||||
Citigroup Global Markets Holdings, Inc., (convertible into Southwest Airlines Co.), 3.55%, 3/16/20(3)(4) | 379,900 | 21,126,239 |
UBS AG, (convertible into Southwest Airlines Co.), 4.25%, 2/6/20(3)(4) | 399,000 | 21,089,145 | |||
42,215,384 | |||||
Diversified Financial Services — 0.9% | |||||
Citigroup Global Markets Holdings, Inc., (convertible into Berkshire Hathaway, Inc., Class B), 0.86%, 1/14/20(3)(4) | 116,900 | 26,087,988 | |||
Goldman Sachs International, (convertible into Berkshire Hathaway, Inc., Class B), 1.30%, 2/11/20(3)(4) | 323,500 | 67,860,595 | |||
Royal Bank of Canada, (convertible into Berkshire Hathaway, Inc., Class B), 0.90%, 1/23/20(3)(4) | 89,900 | 20,094,448 | |||
114,043,031 | |||||
Electrical Equipment — 0.2% | |||||
Credit Suisse AG, (convertible into Emerson Electric Co.), 3.40%, 4/30/20(3)(4) | 271,900 | 19,762,372 | |||
Health Care Technology — 0.8% | |||||
Credit Suisse AG, (convertible into Cerner Corp.), 3.45%, 4/20/20(3)(4) | 399,900 | 27,657,884 | |||
Credit Suisse AG, (convertible into Cerner Corp.), 1.28%, 6/22/20(3)(4) | 338,200 | 24,273,798 | |||
Merrill Lynch International & Co. C.V., (convertible into Cerner Corp.), 2.20%, 5/29/20(3)(4) | 217,700 | 15,731,002 | |||
Morgan Stanley B.V., (convertible into Cerner Corp.), 2.91%, 4/28/20(3)(4) | 286,900 | 20,104,517 | |||
Royal Bank of Canada, (convertible into Cerner Corp.), 3.40%, 2/10/20(3)(4) | 199,900 | 14,478,757 | |||
102,245,958 | |||||
Insurance — 0.2% | |||||
AXA SA, 7.25%, 5/15/21(3) | 24,405,000 | 28,184,724 | |||
Semiconductors and Semiconductor Equipment — 0.8% | |||||
Microchip Technology, Inc., 1.625%, 2/15/27 | 76,131,000 | 108,677,003 | |||
Textiles, Apparel and Luxury Goods — 0.2% | |||||
UBS AG, (convertible into Ralph Lauren Corp.), 8.65%, 1/23/20(3)(4) | 262,800 | 30,446,694 | |||
TOTAL CONVERTIBLE BONDS (Cost $433,613,015) | 471,920,083 | ||||
CONVERTIBLE PREFERRED STOCKS — 2.6% | |||||
Banks — 0.7% | |||||
Bank of America Corp., 7.25% | 39,924 | 57,849,876 | |||
Wells Fargo & Co., 7.50% | 25,957 | 37,637,650 | |||
95,487,526 | |||||
Health Care Equipment and Supplies — 1.2% | |||||
Becton Dickinson & Co., 6.125%, 5/1/20 | 2,449,900 | 160,370,454 | |||
Machinery — 0.7% | |||||
Stanley Black & Decker, Inc., 5.375%, 5/15/20(1) | 797,205 | 86,998,982 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $300,012,413) | 342,856,962 | ||||
EXCHANGE-TRADED FUNDS — 2.6% | |||||
iShares Russell 1000 Value ETF(1) (Cost $287,800,651) | 2,499,342 | 341,110,196 | |||
CORPORATE BONDS — 0.2% | |||||
Electric Utilities — 0.2% | |||||
NextEra Energy Capital Holdings, Inc., VRN, 5.65%, 5/1/79 (Cost $21,583,897) | 21,550,000 | 23,870,507 | |||
TEMPORARY CASH INVESTMENTS — 2.7% | |||||
Federal Home Loan Bank Discount Notes, 1.02%, 1/2/20(5) | 296,282,000 | 296,282,000 | |||
Repurchase Agreement, BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 2.75% - 3.75%, 9/15/21 - 11/15/43, valued at $43,850,170), in a joint trading account at 1.35%, dated 12/31/19, due 1/2/20 (Delivery value $42,928,620) | 42,925,401 | ||||
Repurchase Agreement, Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.625%, 12/15/22, valued at $9,749,418), at 0.65%, dated 12/31/19, due 1/2/20 (Delivery value $9,554,345) | 9,554,000 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 24,526 | 24,526 | |||
TOTAL TEMPORARY CASH INVESTMENTS (Cost $348,776,700) | 348,785,927 | ||||
TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(6) — 0.3% | |||||
State Street Navigator Securities Lending Government Money Market Portfolio (Cost $39,147,464) | 39,147,464 | 39,147,464 | |||
TOTAL INVESTMENT SECURITIES — 100.1% (Cost $10,711,917,408) | 13,072,966,425 | ||||
OTHER ASSETS AND LIABILITIES — (0.1)% | (7,520,855 | ) | |||
TOTAL NET ASSETS — 100.0% | $ | 13,065,445,570 |
WRITTEN OPTIONS CONTRACTS | |||||||||||||
Reference Entity | Contracts | Type | Exercise Price | Expiration Date | Underlying Notional Amount | Premiums Received | Value | ||||||
Gilead Sciences, Inc. | 737 | Put | $61.00 | 1/17/20 | $ | 4,789,026 | $ | (19,619 | ) | $ | (17,320 | ) |
FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS | ||||||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||
CHF | 1,022,872 | USD | 1,049,280 | UBS AG | 3/31/20 | $ | 14,030 | |||
USD | 340,063,032 | CHF | 330,886,431 | UBS AG | 3/31/20 | (3,904,484 | ) | |||
USD | 438,310,233 | EUR | 390,428,127 | Credit Suisse AG | 3/31/20 | (2,051,976 | ) | |||
JPY | 456,069,440 | USD | 4,195,671 | Bank of America N.A. | 3/31/20 | 21,680 | ||||
JPY | 267,431,360 | USD | 2,458,861 | Bank of America N.A. | 3/31/20 | 14,122 | ||||
USD | 42,172,118 | JPY | 4,587,816,160 | Bank of America N.A. | 3/31/20 | (252,195 | ) | |||
SEK | 11,670,342 | USD | 1,256,704 | Goldman Sachs & Co. | 3/31/20 | (5,446 | ) | |||
SEK | 14,748,800 | USD | 1,588,153 | Goldman Sachs & Co. | 3/31/20 | (6,832 | ) | |||
SEK | 4,896,320 | USD | 526,536 | Goldman Sachs & Co. | 3/31/20 | (1,568 | ) | |||
USD | 22,738,769 | SEK | 212,256,742 | Goldman Sachs & Co. | 3/31/20 | (18,740 | ) | |||
$ | (6,191,409 | ) |
NOTES TO SCHEDULE OF INVESTMENTS | ||
CHF | - | Swiss Franc |
EUR | - | Euro |
JPY | - | Japanese Yen |
SEK | - | Swedish Krona |
USD | - | United States Dollar |
VRN | - | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. |
(1) | Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $37,464,592. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers. |
(2) | Affiliated Company: the fund’s holding represents ownership of 5% or more of the voting securities of the company; therefore, the company is affiliated as defined in the Investment Company Act of 1940. |
(3) | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $363,243,080, which represented 2.8% of total net assets. |
(4) | Equity-linked debt security. The aggregated value of these securities at the period end was $335,058,356, which represented 2.6% of total net assets. |
(5) | The rate indicated is the yield to maturity at purchase. |
(6) | Investments of cash collateral from securities on loan. At the period end, the aggregate market value of the collateral held by the fund was $39,147,464. |
• | Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments. |
• | Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars. |
• | Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | ||||
Assets | ||||||
Investment Securities | ||||||
Common Stocks | ||||||
Automobiles | — | 43,246,523 | — | |||
Chemicals | 19,085,890 | 61,072,965 | — | |||
Food and Staples Retailing | 192,143,958 | 100,163,312 | — | |||
Food Products | — | 372,331,033 | — | |||
Hotels, Restaurants and Leisure | — | 71,008,609 | — | |||
Machinery | — | 24,130,591 | — | |||
Oil, Gas and Consumable Fuels | 607,737,481 | 325,122,081 | — | |||
Pharmaceuticals | 972,419,956 | 45,179,330 | — | |||
Other Industries | 7,624,740,729 | — | — | |||
Preferred Stocks | — | 1,046,892,828 | — | |||
Convertible Bonds | — | 471,920,083 | — | |||
Convertible Preferred Stocks | 342,856,962 | — | — | |||
Exchange-Traded Funds | 341,110,196 | — | — | |||
Corporate Bonds | — | 23,870,507 | — | |||
Temporary Cash Investments | 24,526 | 348,761,401 | — | |||
Temporary Cash Investments - Securities Lending Collateral | 39,147,464 | — | — | |||
10,139,267,162 | 2,933,699,263 | — | ||||
Other Financial Instruments | ||||||
Forward Foreign Currency Exchange Contracts | — | 49,832 | — | |||
Liabilities | ||||||
Other Financial Instruments | ||||||
Forward Foreign Currency Exchange Contracts | — | 6,241,241 | — | |||
Written Options Contracts | 17,320 | — | — | |||
17,320 | 6,241,241 | — |
Company | Beginning Value | Purchase Cost | Sales Cost | Change in Net Unrealized Appreciation (Depreciation) | Ending Value | Ending Shares | Net Realized Gain (Loss) | Income | ||||||||||||
Capitol Federal Financial, Inc. | $ | 122,813 | — | — | $ | 3,496 | $ | 126,309 | 9,199 | — | $ | 7,774 |